ya lor omega, put in defensive stk mah, after makan pjd,oskp, price still like 2 yrs ago punya price, hantam saja mah, 2molo, maybe wanna makan 1.58-1.60
Is a good thing did not sell PJD to buy OSKH otherwise would have lost some $. The dividend and warrant was to entice OSKH share holders to go with his plan. I think however this turns out OLH still the winning side. But if minority do not sell, listing status still will be maintained. If price of OSKP and PJD goes up still will benefit OSKH as a parent company.
this is just olh tactic..he wont support osk share now, because when osk price is cheap, then pjdev/oskp shareholder will tend to sell him pjdev/oskp share instead of convert to osk.. OSK is cheaper than OSKP, sure no body want to convert now, rather sell him then buy OSK from open market.. but after 1-2 months later,surely OSK will fly back when times up. So can collect now or hold now..dont panic
OSK will not recognise losses from RHB price drop because it is taking equity accounting method for RHB 10% shares. OSK will earn as long as RHB earning profit unless OSK shares % in RHB become lesser and turn RHB shares into trading securities.
I think it is more on accounting practice. Its depend on whether OSK management like to opt for its 10% equity in RHB to reflect current market price or not. It is however, impossible for OLH to willing to adopt it now, since OLH take no action when RHB trading above RM 8.00, so to be if RHB trading below RM 7. I think to OLH, RHB stake is for long term investment and only will revalue if it decide to sell.
Osk support will be at 1.69 -1.70, if osk still continue no any good announcement! ! Then osk will still run down day by day!!! I think there are all of you also expecting OLH come to push up osk right? ? don't think about it. .. OLH busy in combining...
Actually now many of property counter like mitra,ecowld, wct,econbhd, suncon,and osk etc !!! All of these counter now are in exhausted timing!! No point to invest at this moment! !
I do agree with your view, with current slump down in all property stocks, the take over offer for OSKP and PJD seem is fair price now instead of undervalue. But OLH is largest and founder of OSK, he should know what is best for OSK. By through straight buyout from open market and upcoming acceptance from minority, OSK is on track to acquire PJD at least above 50%, and perhaps even if market continue bearish, cannot rule out potential OSK received acceptance above 90% for both OSKp and PJD, trigger Mandatory take over to fully control both.
With OSK down below take over price, share swap become unattractive, therefore, all take over will be done through cash take over, avoiding dilution in OSK earning, but increase its gearing which can be pare down after consolidate both PJD and OSKP balance sheet all under OSK
The deal is getting more attractive to OSKP minorities now. 18% discount for selling OSKP and buy into OSK. Push it to 25% to 30% discount and OLH stands a chance to win this time.
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Posted by big_fish > 2015-08-10 10:33 | Report Abuse
1.72 ald...TT