PJ DEVELOPMENT HOLDINGS BHD

KLSE (MYR): PJDEV (1945)

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Last Price

1.50

Today's Change

0.00 (0.00%)

Day's Change

0.00 - 0.00

Trading Volume

0

Financial

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Last 10 FY Result
AQR T4Q 31/12/15 30/06/15 30/06/14 30/06/13 30/06/12 30/06/11 30/06/10 30/06/09 30/06/08 30/06/07 CAGR
Revenue 721,368 752,993 427,549 906,970 1,169,502 826,985 638,892 591,263 665,828 628,485 680,029 549,358 -2.90%
PBT 29,672 46,367 48,729 127,613 266,566 80,200 69,045 79,865 74,328 37,433 122,566 52,999 -0.98%
Tax -11,618 -15,002 -13,526 -40,484 -52,345 -19,594 -16,978 -24,393 -21,647 -14,747 -20,809 -10,525 2.99%
NP 18,053 31,365 35,203 87,129 214,221 60,606 52,067 55,472 52,681 22,686 101,757 42,474 -2.18%
-
NP to SH 18,693 31,982 35,445 87,326 223,999 60,927 52,282 56,988 52,759 22,623 101,794 42,377 -2.07%
-
Tax Rate 39.15% 32.35% 27.76% 31.72% 19.64% 24.43% 24.59% 30.54% 29.12% 39.40% 16.98% 19.86% -
Total Cost 703,314 721,628 392,346 819,841 955,281 766,379 586,825 535,791 613,147 605,799 578,272 506,884 -2.96%
-
Net Worth 1,208,440 1,228,919 1,174,805 1,202,937 1,150,105 963,200 920,133 892,857 824,644 788,072 793,555 702,482 6.22%
Dividend
AQR T4Q 31/12/15 30/06/15 30/06/14 30/06/13 30/06/12 30/06/11 30/06/10 30/06/09 30/06/08 30/06/07 CAGR
Div 13,950 24,050 25,102 29,395 22,639 22,717 22,775 22,776 22,780 13,665 22,803 22,807 1.13%
Div Payout % 74.63% 75.20% 70.82% 33.66% 10.11% 37.29% 43.56% 39.97% 43.18% 60.41% 22.40% 53.82% -
Equity
AQR T4Q 31/12/15 30/06/15 30/06/14 30/06/13 30/06/12 30/06/11 30/06/10 30/06/09 30/06/08 30/06/07 CAGR
Net Worth 1,208,440 1,228,919 1,174,805 1,202,937 1,150,105 963,200 920,133 892,857 824,644 788,072 793,555 702,482 6.22%
NOSH 523,134 531,999 502,053 452,232 452,797 454,340 455,511 455,539 455,604 455,533 456,066 456,157 1.13%
Ratio Analysis
AQR T4Q 31/12/15 30/06/15 30/06/14 30/06/13 30/06/12 30/06/11 30/06/10 30/06/09 30/06/08 30/06/07 CAGR
NP Margin 2.50% 4.17% 8.23% 9.61% 18.32% 7.33% 8.15% 9.38% 7.91% 3.61% 14.96% 7.73% -
ROE 1.55% 2.60% 3.02% 7.26% 19.48% 6.33% 5.68% 6.38% 6.40% 2.87% 12.83% 6.03% -
Per Share
AQR T4Q 31/12/15 30/06/15 30/06/14 30/06/13 30/06/12 30/06/11 30/06/10 30/06/09 30/06/08 30/06/07 CAGR
RPS 137.89 141.54 85.16 200.55 258.28 182.02 140.26 129.79 146.14 137.97 149.11 120.43 -3.99%
EPS 3.57 6.01 7.06 19.31 49.47 13.41 11.47 12.51 11.58 4.96 22.32 9.29 -3.17%
DPS 2.67 4.50 5.00 6.50 5.00 5.00 5.00 5.00 5.00 3.00 5.00 5.00 0.00%
NAPS 2.31 2.31 2.34 2.66 2.54 2.12 2.02 1.96 1.81 1.73 1.74 1.54 5.03%
Adjusted Per Share Value based on latest NOSH - 523,134
AQR T4Q 31/12/15 30/06/15 30/06/14 30/06/13 30/06/12 30/06/11 30/06/10 30/06/09 30/06/08 30/06/07 CAGR
RPS 135.60 141.54 80.37 170.48 219.83 155.45 120.09 111.14 125.16 118.14 127.83 103.26 -2.90%
EPS 3.51 6.01 6.66 16.41 42.11 11.45 9.83 10.71 9.92 4.25 19.13 7.97 -2.08%
DPS 2.62 4.50 4.72 5.53 4.26 4.27 4.28 4.28 4.28 2.57 4.29 4.29 1.12%
NAPS 2.2715 2.31 2.2083 2.2612 2.1619 1.8105 1.7296 1.6783 1.5501 1.4813 1.4916 1.3205 6.22%
Price Multiplier on Financial Quarter End Date
AQR T4Q 31/12/15 30/06/15 30/06/14 30/06/13 30/06/12 30/06/11 30/06/10 30/06/09 30/06/08 30/06/07 CAGR
Date 30/09/16 30/09/16 31/12/15 30/06/15 30/06/14 28/06/13 29/06/12 30/06/11 30/06/10 30/06/09 30/06/08 29/06/07 -
Price 1.51 1.51 1.41 1.49 1.65 0.935 0.71 0.78 0.69 0.64 0.63 1.08 -
P/RPS 1.10 1.07 1.66 0.74 0.64 0.51 0.51 0.60 0.47 0.46 0.42 0.90 7.45%
P/EPS 42.26 25.12 19.97 7.72 3.34 6.97 6.19 6.24 5.96 12.89 2.82 11.63 6.55%
EY 2.37 3.98 5.01 12.96 29.98 14.34 16.17 16.04 16.78 7.76 35.43 8.60 -6.15%
DY 1.77 2.98 3.55 4.36 3.03 5.35 7.04 6.41 7.25 4.69 7.94 4.63 -3.07%
P/NAPS 0.65 0.65 0.60 0.56 0.65 0.44 0.35 0.40 0.38 0.37 0.36 0.70 -1.79%
Price Multiplier on Announcement Date
AQR T4Q 31/12/15 30/06/15 30/06/14 30/06/13 30/06/12 30/06/11 30/06/10 30/06/09 30/06/08 30/06/07 CAGR
Date 18/11/16 18/11/16 25/02/16 28/08/15 28/08/14 27/08/13 28/08/12 22/08/11 26/08/10 27/08/09 28/08/08 28/08/07 -
Price 1.50 1.50 1.35 1.55 2.20 0.915 0.81 0.69 0.70 0.65 0.55 0.93 -
P/RPS 1.09 1.06 1.59 0.77 0.85 0.50 0.58 0.53 0.48 0.47 0.37 0.77 8.89%
P/EPS 41.98 24.95 19.12 8.03 4.45 6.82 7.06 5.52 6.04 13.09 2.46 10.01 7.90%
EY 2.38 4.01 5.23 12.46 22.49 14.66 14.17 18.13 16.54 7.64 40.58 9.99 -7.32%
DY 1.78 3.00 3.70 4.19 2.27 5.46 6.17 7.25 7.14 4.62 9.09 5.38 -4.30%
P/NAPS 0.65 0.65 0.58 0.58 0.87 0.43 0.40 0.35 0.39 0.38 0.32 0.60 -0.39%

PBT = Profit before Tax, NP = Net Profit, NP to SH = Net Profit Attributable to Shareholder, Div = Dividend, NP Margin = Net Profit Margin, ROE = Return on Equity, NOSH = Number of Shares, RPS = Revenue per Share, EPS = Earning Per Share, DPS = Dividend Per Share, NAPS = Net Asset Per Share, EOQ = End of Quarter, ANN = Announcement, P/RPS = Price/Revenue per Share, P/EPS = Price/Earning per Share, P/NAPS = Price/Net Asset per Share, EY = Earning Yield, DY = Dividend Yield.

NOSH is estimated based on the NP to SH and EPS. Div is an estimated figure based on the DPS and NOSH. Net Worth is an estimated figure based on the NAPS and NOSH.

Div Payout %, NP Margin, ROE, DY, QoQ ⃤ & YoY ⃤ figures in Percentage; RPS, EPS & DPS's figures in Cent; and NAPS's figures in Dollar.

All figures in '000 unless specified.

Discussions
6 people like this. Showing 50 of 2,867 comments

JJchan

Olh is a typical Old generation ChinaMan (extremely stingy) Will not slaughter Chicken and offer Chicken
head to say he will Repent---- Believe everything to be passed to Elder Son after his passing so OskH
will be his elder son and----pjd the lesser son

2016-10-17 11:23

enid888

@FnR : I also read the news on Goodwood Park today. True, the major shareholder offers $42.81 as compared to the initial offer at $11.88. On top of that, the major shareholders together with the minorities were given dividends many times.

2016-10-17 12:16

JJchan

It is a rare occasion that the Q to buy Oskh hit 1M@ 1.53.....maybe some pjd players are stepping on
both ships--some may follow Ironshirt (5 trading days left on First Extension----I think got another
extension or so----olh very cunning )

2016-10-17 18:53

RVI123

There is for sure another extension as allowed by the Takeover Act.

I am not so worried about being a minority shareholder of PJDev after it is delisted. OLH may be a tough negotiator. However, as you can see, everything he do is following the Company Act and business laws. Even though it is unlisted, every related party transaction in future will be revalued by professional valuer. Nothing much to worry about.

He has offered a low price for PJDev but this is permissible by the laws. It is up to the minority shareholders to decide whether they want to accept the offer or not. If they think that the offer is unreasonable, they can reject the offer.

2016-10-18 00:51

terrytsp

Surprisingly they collect even when it's 1.52. They might revise the offer again. We should start collecting too.

2016-10-18 09:06

JJchan

Don't be silly---absolutely no people buying Except Olh (he tries to generate selling Volume) The Old
fox is manipulating the market

2016-10-18 09:50

valuelurker

I see so many comments here but none making a real, concerted effort to protect their own interests'

Get in contact, an email, or set up a website, get REAL and PROPER legal corporate advice wrt takeovers/de-listing/, rights of minority shareholders etc.

Get the info out, factually, you never know there might be clueless shareholders who are still holding their mother shares/warrants. They will thank you.

Dont shoot in the dark. Dont second guess. Be proactive.

And above all, relish the fight.

After all, this is a story of David vs Goliath

2016-10-18 23:30

RVI123

FnR, Valuelurker,

OLH n OSK are following the Company Act, business laws n SC acts properly. He can make any offer he likes n that is his right. We as the minority shareholders have our own rights whether to accept the offer or not. As I thk that the offer price is unfair and unreasonable, we execute my right to reject the offer.

2016-10-19 23:54

RVI123

Did not know that there was a MSWG meeting on PJDev. Too bad.

2016-10-19 23:56

RVI123

I calculated based on the fact that OSK needs to acquire 90% of the shares outstanding and not already owned by OSK n PAC as at the announcement date (30/8/16). When I did the calculation, the figures from IAC was not out yet. Now, since IAC has already stated the actual percentages, that percentages are final and it is even harder for OSK to achieve that thresholds.

2016-10-20 09:25

RVI123

I think IAC based on the figures on 4/9/16 when OSK announcement delisting of PJDev.

2016-10-20 09:28

RVI123

The daily volume is low. The announcement by OSK shows that the quantity purchased from the open market and the offer acceptance are low after 11/10/16. Those who have decided to accept the offer might have already done so before 11/10/16. The remainings are those who have decided to stay on and continue to become minority shareholders unless a fair and reasonable new offer is announced.

2016-10-20 15:54

steveooikp

I bot osk 1.53.
PJ dev at 1.50...
so osk 1.53 is worth.

2016-10-20 16:55

RVI123

Eventhough extended by 4 weeks, it is not easy for OSKH to achieve 99.12% and 97.85%. The remaining shareholders are seasoned investors who will not sell at unfair and unreasonable price.

2016-10-23 22:26

Kong Ming

can see2 this one...hihihi

2016-10-26 20:24

RVI123

Just go through the few current ongoing takeovers and a major shareholding purchase that took place today, then we can see how unfair OSKH's offer is.

Counter / NBV / Offer Price /Premium
Maypak / RM0.49 / RM1.00 / 104%
CenBond / RM1.40 / RM1.75 / 25%
WCT Hldg / RM2.12 / RM2.50 / 17.9%
PJ Dev / RM2.32 / RM1.50 / -35.3%

Note :
WCT - a direct business transaction by Desmond Lim on 1/11/16.
The Net Book Value per share is based on the latest quarterly results as at 30/6/16.

Just look at it yourself, PJ Dev is the only one where the offer price is below the Net Asset / share. If PJDev offered price is to match WCT,OSKH should offer RM2.74 for each PJDev share. The Warrant should be offered at RM1.74 per share.

2016-11-02 11:54

RVI123

The Revalued Net Asset Value (RNAV) of PJDev is RM4.60. Pls don't accept at RM1.50. OSKH is trying to blackmail the minorities by delisting the counter. Many who are worried about the delisting have already sold off their holdings. The remainings are those who know the actual value of the counter and just simply unable to accept the diliculous price.

The offer price of RM1.50 is UNFAIR and UNREASONABLE.

2016-11-02 13:28

bryankhor82

will buy in more..

2016-11-14 12:38

terrytsp

Based on today's announcement, what will happen to those shareholders after PJDEV got delisted on 29/11/16?

2016-11-21 20:14

thumxj

FAIRnREASONABLE and RVI123, should it be if they acquired 90% of shares and warrants, they are good to go ahead with delisting?

2016-11-23 10:08

Teh_Invest

FnR, means they did not achieve the 90%? Do you think they will re offer?

2016-11-30 00:44

CAF-POW

Thanks, FAIRnREASONABLE ... I will be interested to use this as a case study for future reference. Do keep us updated how the actual scenario unfolds.

2016-12-05 16:51

Teh_Invest

Is this the same case as HWANG? If they're to re-offer it will need 6 months?

2016-12-14 01:45

terrytsp

Any update for those who are still holding the share?

2017-02-08 14:30

Teh_Invest

Tomorrow is the last day. Anyone any update?

2017-02-21 13:39

860000

last day for what? i just came here to have a look

2017-02-25 18:10

860000

Noted. just keep on let us updated with the progress :D... would be interested to know how it goes

2017-03-10 08:31

terrytsp

Will PJD still be giving dividend to existing shareholders?

2017-03-20 23:04

RVI123

PJDev is the biggest beneficiary of this project. OSKH is also benefited but in a diluted form. I thk the remaining shareholders will be the biggest winners of the whole project.

2017-04-06 00:26

RVI123

Like what we had anticipated, everything owned by PJDev will still remained with PJDev. 49% of Yarra Park City sold n 51% is still owned by PJDev. The proceeds from the sales will go to PJDev.

2017-04-06 14:32

py197

I have only 30k PJDEV-W, can anyone advise me what are my alternatives. Tq.

2017-04-09 11:06

terrytsp

Anyone received dividend from PJDEV last month? =D

2017-05-11 10:08

NoviceTrader

Yes

2017-05-15 12:58

Wechong

Any news from pjdev ?

2017-08-14 21:25

terrytsp

Basically the return that we will get is by dividend?

2017-11-22 20:11

Tawaraja Sandra Rajoo

What should we do now? Still hold on to it?

2018-01-27 18:52

Akihito

5491885

2018-06-03 22:29

Akihito

583036

2018-06-03 22:45

Akihito

5327552

2018-06-05 18:13

Akihito

5602493, 5195545, 3138252,5218104

2018-06-07 23:17

Peng

Hi guys, I'm new
I would like to ask if I'm still holding this stock, what can I do?
I can't find any information from KLSE screencer, but I still received dividend on last week (7 June)

2018-06-18 13:25

Wechong

How is the dividend

2019-12-19 20:46

silver123

Dear all expertise, may I know what advise to do with the remaining shares of PJD warrant which will expire end of this year? Thank you.

2020-01-28 17:51

Ha _

Anyone receive offer from PJ Dev to sell the share back to them?

2020-04-23 15:44

rambolee

already bought by OSK?

2020-04-23 16:03

junetang

PJ Dev no longer listed in KLSE.

2020-07-12 02:51

fuwa88

Any form to submit? Need to get approval from OSK management?

2020-11-24 20:54

mmlim

I am still holding the warrant PJDEV-WC. Called OSK, the recommendation given is not to convert to mother share as there is no buyer and also, the offer price for mother share may drop lower than RM1 hence will loss more money!

Very disappointed with the company.

2020-11-27 21:11

jaguarxjl

@FAIRnREASONABLE Hi, may i know how much you sold? I still holding PJ Dev Shares =(, price can nego?

2021-02-24 14:02

Venthaan83

@mmlim... I used to have PJDEV-WC as well. But I managed to convert to PJDEV mother shares with the exercise price of RM1.00. That mean if you have 10k PJDEV-WC shares, you need to fork out 10k to convert the warrants to mother shares (PJDEV). Now I get a decent dividend payout from them.... it's around 0.20cent per share yearly. In my opinion, it's worth holding the PJDEV shares.

2022-04-29 10:43

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