Yes their result is good. I think OLH after selling off his sake in OSK, he now can focus more on osk prop and PJDev. His counters no more sleepy, they are now proactively managed
I am happy to hold osk prop WC and hopefully can touch $1.00 by year end
Although both the potential of oskprop and Pjdev are great but due to the gearing of of the warrant as well as P/Bv etc. I opined Pjdev-wc will have better prospect.Thus,may be the warrant position should like this Pjdev 65%,oskprop 35%.
Although Pjdev have higher P/Bv and bigger in size but they are now have higher gearing than Oskprop thus limit Wc potential. However,I think Oskprop almost reach its equilibrium level as they are now approaching its P/Bv likely stop at 1.8-1.90 level.Thus the price of the warrant will likely reach 0.80-0.90 level still have more rooms to growth from current level of 0.71.
On the other hand,although Pjdev have higher gearing as well as premium but this is because mother didnt move much but imagine if mother can hit 1.90,then theoretically wc will have 0.90 and this not even taken into account of its longer maturity period which could adds further time value towards its warrant value.
All the above is based upon organic growth of the company and this is not even taken into account of its potential M&A but my advise is that do not have a high hope of higher price in M&A as Uncle Ong will definitely do not wish to give high price which can seen from its recent activities over OSKVI offer that represent a huge discount to its NAV.
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Posted by Mat Cendana > 2012-09-04 09:04 | Report Abuse
From 0.05 to 0.275 with big volume!! What's going on?