Pursuant to Section 39 of the Code, PJ Development wishes to announce that Mr. Eng Kim Haw, the Officer of the Offeree for the Offer, has dealt in the shares of the Offeree for his own account on 23 July 2015. Please refer to the attachment for further details.
Pursuant to Section 39 of the Code, OSKH wishes to announce that Mr. Yap Yoon Kong, being the Director of PJ Development, has dealt in the shares of OSKH for his own account on 23 July 2015. Please refer to the attachment for further details.
The deal is actually more in favor to OSKP & PJD shareholders in term of NTA valuation. OSKH minorities have accepted the deal because of dividend 15 cents and free warrants. Now, OLH intends to pull down the share price of OSKH to attract minorities of OSKP & PJD. Minorities of OSKH have not received dividends and free warrants yet. Some would face margin call when the price goes lower in the next 10 days. Is it a trap set up by OLH?
OSKH's share price seems trending south after the recent sell-down. OLH may press the price down to 1.75 soon. This will translate to 10% extra to OSKP's minorities intending to switch the share.
As I commented before, I think the OSK show is over. There is no compelling reason for OLH and PAC to push the price to 2.50. The intrinsic value does not justify such a price, especially after the special dividend and the free warrant.
Why OSK is worth much more than it was a year ago? If it is due to the injection of OSKP & PJD, then the underlying values of OSKP & PJD are higher than OSK. It is therefore not a smart move to switch from OSKP & PJD to OSK now.
Please be reminded that in November 2014 MSWG commented that the offers from OSK for OSKP & PJD were UNFAIR. MSWG arrived at a value of RM1.57 for PJD-WC based on Black-Scholes Model.
I counted myself lucky to be able to dispose of my OSK shares at 2.24 recently to switch over to PJD-WC at 0.57. Please also note that OLH and PAC are holding on to their PJD-WC - they didn't sell to OSK. This really means something - they should think WC is worth much more than selling at RM0.60 to OSK.
The only way to mess up his plans is to convert all minority shareholders of PJD and Osk Prop shares to Osk Holding shares therefore diluting his share in Osk Holding to less than 50%. With all the goodies incorporated into Osk Holding,the share value of Osk Holding can only head north. He will be forced to buy from you and me in order to gain control. I don't think he has con his wife,son and himself into converting to Osk Holding. He knows where Osk Holding is heading. He has taken a chance and has sacrificed his queen and castle but are the minority shareholders of both the companies willing to follow him. Are they as far sighted as him? If he controls between 75% to 89% of Osk Prop ,what do you think will happen to its share price? Will it be delisted or will he be forced to sell it back down to less than 75%? If he sells,Osk Prop share price will drop. Everyone is expecting PJD share price to go up after mid-September. Beware,as he can keep PJD share price down just like what happened to Osk Holding,with its share price hovering around 1.60 and 1.70 for so long. Hope he doesn't make you wait for a few years. Hanting999 knows he can make you wait forever. We,Osk Holding shareholders,are still waiting. Most are tired and fed up of waiting and many have sold. Just a word of warning as he can wear you out. Be prepared to wait.
Gheekong, thanks for mentioning me in your write-up. OLH and company will make tons from their salaries and directors' fees. Whether OSK share price rises or falls does not matter to them. They are in control and the green pastures are for their picking. As for me (maybe for you,too) I have waited far too long. Today, I am down and out (to put it short). I had waited: 1. sale of OSKIB to RHBC. -- What happened? Nothing. 2. merger of CIMB-MBSB-RHB. --- What happened? Nothing. 3. merger of OSK-OSKP-PJD --- what happened? Got kacang puteh (15 sen + 1:4 warrants@1.80) and yet lose money. AND all these entails long waiting times. Wait some more!!!! and hope OSK to rise to 2.50. Mildly putting in words; I shake my head. Best put OSK shares in CDS and forget it all. Relax, the worst ..........................!!!!!!!
Gheekong. I think OLH already anticipated the word dilution in OskH--he is on a buying spree. As far as OskP is concern, he is buying with many accounts so in the event he cannot secured 90%--he does not have to sell back to maintain listing requirement. I think Free Floats can be be held by 20 persons Or 2000 persons ( you do not have to report to bursa unless you are holding more than 5% of total shares) If OLH failed to acquire OskP, it will be a Very, Very illiquid share.
Investing in OSKH is a long waiting game....u need to prepare n win loh.......!!
A lot of investors had fed up on waiting, raider like to point out...the positive point of OSKH is they will continue to maintain dividend of Rm 0.075.....this means u get a decent dividend yield of 4% pa......!!
Therefore...u can still treat your OSKH as a fixed deposits....while waiting....for it to rerate ITS FAIRVALUE OF Rm 2.60 to rm 3.20 loh....11
Re-rating will come fast after restructuring. According to what he said in 2015 Agm, He wants OskH to be 1st tier Company so that he can get a better Rate from bankers. Since properties market will be softer in 2016, I expect OLH acquiring Landbank in KL especially around "expected" High Speed Train terminal in KL
I am confident like you,SinGor and Stockraider,about Osk Holding. I understand the frustration that Hanting999 is feeling. Osk Holding EPS will increase by at least 50% that is from 22cents to 33cents. Profit will double up. Osk Holding itself has a piece of land with a GDV of a billion. With 2 highly under value companies injected into it. Minority shareholders of these 2 companies know they have a very good GDV. Sales and profits will definitely increase,very good future indeed. Rhb will provide better earnings and dividends after restructuring,and it will merge with another bank in the future. Dividend is good enough and better than FD. Management of all the above companies are outstanding. The minor irritations now are the low oil price,ringgit value,U.S. interest rates and 1MDB. My major concern is how Osk Holding share price has been manipulated to the disadvantage of retail investors. It is so obvious that this is happening. Burse should do something about this. For a start,every trading transaction done should be charged 40 ringgit. I am sure all the remisers would be happy and banks too. This will stop 100 shares being sold just to manipulate the share price,especially at the end of the trading day. Any normal company will such good prospects will see their share price flying up. Can anyone explain why this is not happening to Osk Holding. Definitely I would like to know.
Now OSK is at 1.83; and exercise price for warrants to mother share is 1.80. What do have left? 3 sen - 5 sen -- listing price for warrants. Am I making any sense?
Omega, sudah cakap lama mah, Osk have 10% rhb, 30%+ pjd,(almost 40% discount to nav), 70%+ oskp (every quarter eps 15-20 Sen, nav increase by more than 10% in few quarters,Osk makan oskp at very deep discount) , do the math loh, so Osk super damn extremely undervalue loh
Someone wanted to know why OSK, in spite of having so much assets, should be going down in share price almost daily. The answer is very clear. That man, OLH.
OLH take an opportunity to slaught minorities who is greed for freebies and dividend especially those who played with margin account. He would liquidate part of the shares to collect cheaper warrant and share next week.
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r°Moi
5,802 posts
Posted by r°Moi > 2015-07-24 12:57 | Report Abuse
Aiya.. all very confusing la.. OLH.. WTH