OSK PROPERTY HOLDINGS BHD
KLSE (MYR): OSKPROP (6661)
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Overview
Market Cap
NOSH
Avg Volume (4 weeks)
4 Weeks Range
4 Weeks Price Volatility (%)
%
52 Weeks Range
52 Weeks Price Volatility (%)
%
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Open
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Day's Range
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Financial Highlight
Latest Quarter | Ann. Date
30-Jun-2015 [#2] | 28-Aug-2015
Next QR | Est. Ann. Date
30-Sep-2015 | 06-Nov-2015
T4Q P/E | EY
0.00 | 0.00%
T4Q DY | Payout %
0.00% | 9.87%
T4Q NAPS | P/NAPS
1.68 | 0.00
T4Q NP Margin | ROE
16.15% | 22.38%
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Company Profile
Description:
OSK Property Holdings Berhad is a Malaysia-based investment holding company. The Company, through its subsidiaries, is engaged in the property development and management, and sale of oil palm fresh fruit bunches. The Company operates in three segments: Property development, which is involved in the development of residential and commercial properties; Property investment and management, and Holding entity. On March 17, 2010, the Company acquired Jelang Vista Sdn. Bhd. (JVSB). During the year ended December 31, 2010, JVSB acquired two plots of residential land in Cyberjaya measuring in total approximately 12 acres. On June 1, 2010, it acquired additional 4% interest of Rimulia Sdn. Bhd. (RSB). On December 10, 2010, it also acquired three companies, including Potensi Rajawali Sdn. Bhd., Warisan Rajawali Sdn. Bhd. and Wawasan Rajawali Sdn. Bhd.
Discussions
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Please read the bursa announcement dated 20/7, there is bold letter content as follows on pg 13
It
is
the
intention
of
the
Offeror
to
maintain
the
listing
status
of
OSK
Property,
unless
sufficient
valid
acceptances
are
obtained
to
invoke
the
compulsory
acquisition
as
set
out
in
Section
5.2
of
this
Notice.
In
the
event
that
OSK
Property
fails
to
comply
with
the
public
shareholding
spread
requirements
under
Paragraph
8.02(1)
of
the
Listing
Requirements
pursuant
to
the
Offer,
the
Offeror
will
explore
various
options
or
proposals
to
rectify
the
shortfall
in
the
public
shareholding
spread
of
OSK
Prope
Let us all the minority shareholder united and not do anything until the merger exercise over,
If OSK shareholding cannot touch above 90%. The offer is not compulsory acceptance
We can benefit more later as the merger exercise had indicate the fair price is about RM 3.50
if the company remain listed.
2015-07-22 17:31
It is also not wise for any smart investor to exchange for OSK shares.
The eps for the current year expect to be around 60 cts based on feedback from various experts in i3investor.
Hence OSK prop shares value up more than OSK in future especially with not much public float. Similar case happen to Hong Leong Capital when Hong Leong failed to capture 90% shareholding..
Reject the offer.
2015-07-22 18:00
Yes...it make little sense to exchange...if really want OSKH...better to sell OSKP and buy OSKH.
If not, better just hang on OSKP still okloh....!!
2015-07-22 18:06
What if they manage to acquire more than 90% of oskp?then minority shareholder will have to force to sell to oskh for 1.95?
2015-07-22 18:17
At this moment many think the acquisition is compulsory though
Only mandatory.If we reject the offer then the chance to get more
Than 90 pct is harder.
By maintaining listing status OLH and pac also benefit as they
Still have more than 80 million of warrant which they had not declare
their intention yet in the merger exercise.
2015-07-22 19:08
You should hang on to your OSK Property and reject the offer.
In this financial year end.
OSKP is estimated to make RM0.60 per share.
OSKH is estimated to make RM0.32 per share (including RHB, OSKP n PJD profits).
The earnings are diluted and share price of OSKH will be lower than OSKP.
2015-07-23 12:39
reject offer since OSKP will pay good dividend for OSKH to sustain dividend payment..
2015-07-23 14:26
I have different opinion. Please advice.
Reject? Is this the right move?
Let’s assume all minority rejected the offer, what can we (27% minority) do to the OSKP share price?
United together to push up the share price and fighting to sell at the higher price among ourselves?
Who want to put a bid at RM5.00 or RM6.00?
We must know share price didn't move by itself. The question is, who want to jack up the OSKP share price for minority shareholders beside OLH?
I believed OLH will never do that for sure, he don’t need to do so. This is because 73% of OSKP profit will flow into OSKH A/C (his vehicle), no matter OSKP at RM1.95 or RM5.00.
As at now, OSKP still trading at RM1.95 level, this also means NO syndicates are in the action to against OLH, otherwise price surged. At least for now.
In this case, possibility of share price stay flat for many years with less trading activities even with greater profit in the next few year. But, OSKH price may already surged much higher because they still enjoy 73% of OSKP’s profit.
Beside received dividends if company still doing well, how long can we hold on to this flat price if no body put a higher bid. Definitely you won’t put at RM5.00 for me to sell right, so am I and vice versa.
Although we may think OSKH is slightly overvalued compared to OSKP in this deal. But, do we have a better choice?
How about “accept” the deal?
We will still hold OSKP. (OSKH already owned 70% OSKP)
We may think OSKP @ RM1.95 is in deep undervalue, but this also means OSKH is in deep undervalue after holding approximately 73% of OSKP shares at this moment.
If we believed OSKP going to perform very well in forthcoming years, I think to Hold OSKH is much better than hold tight in OSKP, because OSKH already owned 70% of the so called undervalued OSKP and for sure the profit will flow into OSKH a/c. With the higher EPS in OSKH, I guess OKSH share price will surge higher instead of OSKP.
Again, we must believe that the share price will never move by itself. Who is willing to put a higher bid at RM5.00 or RM6.00?
But if we get the deal done, we are riding together in OLH vehicle (OSKH).
AS at now, Instead of share exchange at @ RM1.95 (1 for 1), OSKP minority may consider to sell OSKP at RM1.94/95 and BUY OSKH at RM1.85/86 level and still get a discount of 8-9 cents as “premium”.
Please advise. Thanks.
2015-07-24 08:23
Refer to pg 16 of the offer notice
Note:-
The
existing
Warrants
held
by
the
PACs
may
be
converted
into
new
OSK
Property
Shares
It was not committed to sell to OSK for RM1.00.
What is the reason may be convert to OSK prop shares?
Can someone interpret the remarks.
By suppressing the OSK price lower than OSK prop. does it mean someone
discourage us from accepting the offer and want the listing status maintain.
2015-07-25 10:51
OLH has given few options for the minorities. Cash out or conversion into OSK share or cash out plus buy OSK in the market at cheaper price. it's too simple for him to fetch shareholding above 75%. To be nasty, OLH may delist OSKP according to Bursa rules.
2015-07-29 21:59
but if convert to OSK share is at 1.95 right, mean will direct loss 0.15 if convert within this month d?
2015-08-04 17:02
OLH need about 61,065,072 OskP shares to mandatory takeover OskP. It looks like rather
difficult task. See my collected statistics:
1) 7,426,600 shares done on 17 July - 23 July ( first week--give and take 2% error from estimate)
2) 2,617,000 shares done on 24 july - 31 July ( 2nd week-- expected no error )
3) 582,900 shares done on 03 Aug - 07 Aug ( 3rd week--expected no error )
Another 6 weeks to go. Can OskP minority shareholders hold on to their shares???
If collection stay at below 500K a week (for next 6 weeks), OLH will end up with only 13,626,500 shares on 21 Sept
2015-08-08 12:04
http://www.bursamalaysia.com/market/listed-companies/company-announcements/4823429
Any 1 know what will happen if i dun accept any offer?
2015-08-11 12:59
If no such offer, be prepared the price to stay below 1.9. prawn is better than without fish.
2015-08-12 11:13
The mandate ends 21 Sept. 2015. Got to request OskH shareholders again. What is OLH
going to offer them.??
2015-08-13 17:06
AmInvestment bank will issue their advice to minority shareholders latest by 20th August. For those who are still holding the shares, you may wait until 21st August to know the outcome. Then you have few days to think before the offer is closed on 1st September. By then, OSKProp would have announced its Q2 result.
OSKH is busy collecting PJDev since they want to secure at least 50% of their shares.
2015-08-14 08:52
http://www.bursamalaysia.com/market/listed-companies/company-announcements/4826729
The chances of maintaining listing status appear to be higher with this announcement.
2015-08-14 17:46
Pls do not accept OLH's offer. If you accept his offer n exchange with OSKH, the share base of OSKH will be very much bigger. The earnings per share will be diluted n the upside of OSKH is much lesser as compared to OSKP (If the OSKP is remain listed.)
2015-08-16 21:33
If you are sitting on paper gain right now, my advice is to sell the shares and bought other stocks which have been beaten down. When market has rebounded, you will make more profit rather than holding this shares.
AmInvestment bank will release their advice circular on thursday .My gut feeling tell me that they will say the offer is not fair but reasonable due to weak market condition.
2015-08-18 20:26
OSK n PAC have already amassed 85% of the shares. It looks like OSK n PAC may succeed in taking over OSKProp.
Why doesn't OLH leave OSKProp listed n merge with PJDev? This may be a better option where the share price of the OSKProp n PJDev merged entity will become benchmark price for the holding company OSKH. They can also spin off the hotel n Atria Mall as REIT taking over the listing status left behind by one of the merged company.
2015-08-25 22:35
Usually, OSKProp quarterly results are released in the beginning or middle of the reporting months. This time it is very different. Only two more days to go. Is the results too good that it may influence the shareholders to reject his offer?............
2015-08-26 20:50
"The Board of Directors of OSK Property wishes to announce that based on the Record of Depositors and number of shares accepted under the Offer as at 4 September 2015, the public shareholding spread of OSK Property is 5.92%.
As the public shareholding spread of OSK Property is less than 10% of the total OSK Property Shares in issue (excluding treasury shares), pursuant to Paragraph 16.02(2) of Main Market Listing Requirements of Bursa Malaysia Securities Berhad ("Bursa Securities") ("Listing Requirements"), Bursa Securities shall suspend the trading of the securities of OSK Property immediately upon the expiry of 30 market days from the date of this announcement. The suspension will be effected on 22 October 2015, being the market day immediately following the expiry of 30 market days from the date of this announcement."
2015-09-08 08:37
If OSK buys from the market now at a higher price, say rm2.10 which is higher than offer price rm1.95, Does OSK has to give the same rm2.10 to those who took up the offer earlier at rm1.95? How abt warrant shareholder, are those affected?
2015-09-21 12:40
Thanks, III. OSKProp by itself. Now, it is bought over by OSK. Looking at OSK which has taken over OSK Prop, it is still attractive. However, the plus points are diluted as compared to OSKProp by itself.
2015-09-24 13:31
I'm still holding shares in OSK property now, i did not accept the offer. They are going to pay me cash or share in OSK? Thanks for the advice.
2015-10-31 20:47
no...still waiting...anyone call the registrar to verify when the cash will be sent?
2015-12-16 12:15
they say send out the check last two week...i still havent receive yet....
2015-12-30 10:12
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III
I only accept share exc not cash term...
2015-07-22 12:13