Huat ah!

Actually OSKProp NTA should be higher than RM1.87, considering that it has made 20cent EPS for 1st half and projected to make another 20cen EPS for 2H14. So the NTA will breach RM2.00 assuming they gv another 5cent dividend, earnings retained and no revaluation surplus. OSKProp landbank in Sg Petani has not be revalued for quite some time and if they do, the NTA would be a lot higher than RM2.00

Generally, both Oskprop and pjdev are deeply undervalued by that offer considering not only NTA but also both company are registering record revenue and profit. Besides both have huge potential, i.e PJdev australian project while OSKProp Atria Mall recurring income and growth from Sg. Petani project. The offer price is not attractive eventhough Osk share price is RM2.17, since it is proposing 15cent dividend for CURRENT SHAREHOLDER ONLY.thus the price will be RM2.02 if i want to convert OSKProp to OSKH. With the upcoming Q3 announcement, the offer will definitely even more not worthy to accept due to increasing NTA and profit.

I think this offer under purview of Bank Negara (anyone can confirm this?) since OSKH also hokd RHB shares. Therefore could BNM stop the deal?

Pwroot has long been under my watchlist but the price stubbornly above RM2.000. Thanks to those selling at RM1.47, which allow me to grab some. =) At RM1.50 and 9 cent dividend, the return will be more than 5%.

I realize that average selling price of instant coffee 3-in-1 is higher than last year. A packet (i cant remember how many sachets in 1 packet, maybe 20 sachets) is now sold btwn range RM13 to RM15, whereas last year it was btwn RM10 to RM13.this may translate to higher revenue.

barakah/pbjv used to be sub con. And now they are at par with bigger boys like gom resources (puncak niaga) and TL Offshore (Skpetro). I cant say much but the prospect will be very good. haha

treasury shares cancel. this will increase ceo's shareholding percentage and EPS improved
ceo transfer warrant from nominee acc to own acc. something is brewing.

It is suprised that Focus Malaysia didn't cover the OSK, Oskprop, and PJDev merger. Starbiz onky cover in the small commentary part. And I havent check The Edge Weekly. Unlike when Sime darby launch takeover for NBPOL from Kulim. Analyst rushed to give their yes/no opinion to the takeover offer, the next day after announcement! Even Starbiz and Focus Mlysia still cover this Sime darby story. But I believe that generally any analyst wouldnt agree with the Osk offer, and maybe OLH to powerful that no analyst dare to discredit him

As I wrote earlier, PJdev deal wont go through, in condition that allied party to OLH cant fully acquire pjdev. You can see how Pjdev share price is suppresed yesterday to clear out contra players, panicked and uninformed investors and to create illusion that pjdev takeover will definitely occur. It will takewa long way since pjdev is bigger and they need another 58% to force a full takeover. it is not easy!

for oskprop, it is an obviously easy target but it depend if they can get 90% acceptance. investors should not sell now and should ask for better price instead. I believe that apart from the stingy old man OLH, OSK does not have financial muscle to fund the takeover through cash since all the money is in form of Rhb stake. They only receive dividends and their lending money business is not substantial. that is why they also offer shares. and OLH dnesnt want to burden his OSK with debt, since his aspiration is to ultimately control OSK tight in his grab. If you read carefully, the 15 cent dividend and warrant is for current shareholders, meaning the effective takeover price is RM1.85 (or less since warrant will increase on day of listing) not RM2.00/OSK shares. That showp how cunning's OLH is.

Believe that, Rhb shares will be sold and of course that the one to benefit is OLH.

It is suprised that Focus Malaysia didn't cover the OSK, Oskprop, and PJDev merger. Starbiz onky cover in the small commentary part. And I havent check The Edge Weekly. Unlike when Sime darby launch takeover for NBPOL from Kulim. Analyst rushed to give their yes/no opinion to the takeover offer, the next day after announcement! Even Starbiz and Focus Mlysia still cover this Sime darby story. But I believe that generally any analyst wouldnt agree with the Osk offer, and maybe OLH to powerful that no analyst dare to discredit him

As I wrote earlier, PJdev deal wont go through, in condition that allied party to OLH cant fully acquire pjdev. You can see how Pjdev share price is suppresed yesterday to clear out contra players, panicked and uninformed investors and to create illusion that pjdev takeover will definitely occur. It will takewa long way since pjdev is bigger and they need another 58% to force a full takeover. it is not easy!

for oskprop, it is an obviously easy target but it depend if they can get 90% acceptance. investors should not sell now and should ask for better price instead.

I believe that apart from the stingy old man OLH, OSK does not have financial muscle to fund the takeover through cash since all the money is in form of Rhb stake. They only receive dividends and their lending money business is not substantial. that is why they also offer shares. and OLH dnesnt want to burden his OSK with debt, since his aspiration is to ultimately control OSK tight in his grab. If you read carefully, the 15 cent dividend and warrant is for current shareholders, meaning the effective takeover price is RM1.85 (or less since warrant will increase on day of listing) not RM2.00/OSK shares. That showp how cunning's OLH is.

hopefully someone with deep pocket can kacau his plan as how Dr Yu vs stingy sugar king (HL cap)

Looking at how the deal is structured, it shows the final target of Ong is to control OSK (RHB stake is the main jewel), with OSKprop as a bonus. It is absurd to offer lower than market price while MOSK can offer at higher price. Certainly the shareholder of OSKprop and PJdev will reject and pjdev deal will likely fail. As for OSKprop, it has not been mentioned about privatization, but for a privatization to go through they need get 90% acceptance. With the great prospect in Sg Petani project, Elevia Residence, and recurring income from Atria Mall opening in 2015., OSKProp shall not accept offer. To make it worse, OSK offer bonus warrant and 15 cent dividend to current shareholders, not after the deal, in order to entice OSK shareholder to accept the proposal and enriching himself. Ong is also very cunning not to table the OSK deal before PJDev and OSKprop AGM. Otherwise he will be in hot soup during AGM.

Wonder why he would accept a lower price eventhough he can demand OSK to give more shares? Rather than allowing share base to be bloated and dilutive, he would rather keep it small for easy privatization o OSK later.

shit from mr ong.

yes, agree. they may want to benefit from interest rate unless Cliq manages to proceed with QA.

haha. what i mean is they confirmed talking to each other. I believe Pjdev will be the acquirer since they are bigger entity than oskprop. however due to high gearing of pjdev, plus they are acquiring land in australia for 432m, it would be wise for them to offer share and some cash. the way i look at the deal, if it materialise, will benefit mr ong since his 75% shares will be converted to pjdev shares. if oskprop were to acquire pjdev, it will be dilutive to oskprop. The valuation is the key. mq ong may value oskprop at higher price to get more shares.

anyway, i do agree pjdev will be bigger, stronger entity post merger. but it need to reduce its debt, otherwise it will become another tropicana.

The deal is confirmed! Waiting only for annoucement

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1762437

The impact to property stocks is not bad as initially thought.
Although housing is exempted from GST, however there will be a rush to buy property before second quarter of 2015 (not Symlife FY) since property price will increase anyway (raw materials for property development is not exempted for GST).

The deal is coming!

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1762433

The impact to property companies is not as bad as initially thought.

btw, hopefully OSKProp announce windfall dividends too before merging. =)

This is news! Now CIMB-RHB bank merger is going on as planned, then Ong can focus on merging OSKProp and PJDev. I believe PJDev will be the acquirer, with OSKProp as the acquiree. Hopefully someone can push the price so that OSKProp won't be acquired cheap..
I have no bullet already. Shopping too much from big sale yesterday. LOL

because of budget announcement tomorrow and foreign fund manager selling for winter break. everybody afraid RGPT will be raised. the same thing happen last yr but property stocks fly anyway in early part of this year.

yes, sonic.As I wrote in previous posting, oskprop has a high chance to be privatized mr ong/osk if the bank merger go through. Osk will no longer become substantial shareholder when their share in RHB drop from current 10% to less than 5%. OSK might need to find 'core' business, and oskprop fits the bill.

patiently waiting for chance to buy again symlife and now the opportunity comes again!
with the stake sale to Guocoland and the launching of long delayed Star residence, TWY, Elevia will be reflected in Q2 15' (last quarter). i believe the unbilled sales will increase again from a low RM300 mil.

to tiuniaseng, speaking about ksl i monitored since it was RM2.20. It was long undervalued just like symlife. They have huge cash pile but I was worried about its debts which is quite high and its mainstay in Johor, although they have a good mall. The rest is history. I believe symlife will be following ksl soon.

cheers!

PT Arita, their Indonesian associates, had jumped from around 250 rupiah in August to 425 rupiah now. I guess this is why Unimech share jump from RM1.58 to RM1.74, apart from active share buy back. The company buy-back shares almost everyday!

Either they distribute back as dividends or cancel the treasury shares will benefit both major and minority shareholders.major shareholder can tighten their already high shareholding, without having to fork out money to increase shares. they may launch MGO

and for minority shareholder can benefit from increasing share price due to higher EPS.
I believe that unimech can stand good chance to benefit from RAPID pengerang project. there will be a lot of valves for their petrochemical plants. return-check valves, safety valves, you just name it.

Cheers!

Tecnic and Skpres are both suspended. maybe merger btwn two

agree. unimech is illiquid since major shareholders hold most of the shares. but the price can move very fast, either up or down.

I thought you goreng. haha

hippo yin, did you goreng today? hehe

div 5 sen ex date @ 13/10

SC is very stringent right now. Many corporate exercise takes longer than usual. Cliq pun tiada harapan.

agree. waiting for M&A before they going up again.

well, the shark swim to SHL. This symlife they will eat later. haha

okay hippo yin. dont forget to goreng unimech again. hehe

agree with james70. haha. relax bro. star residences has just being launched on early Sept aftder some delay. It will definitely contribute to their profit through 50% stake in JV (Alpine Return) with UM Land. Star Residence, which is very near to KLCC, will be built in 3 tower with a mall. Most of the units are SOHO/SOFO of 650sq.ft each, with each sq. ft start from RM 1,600 onwards (almost RM 1mil each Soho). Believe it will receive good take up rate.

another share buyback announcement yesterday.

today the major shareholder still transferring shares from own acc to nominee acc. I think maybe there will be corporate announcement very soon.

agree with gheekong. when RHBIB took over OSKIB in 2012, OSKIB was valued at RM2.15 billion. Now the OSK is holding RHB shares worth RM2.3 billion. Not bad considering that OSKIB must have been taken over at slightly higher valuation then. If OSKIB is still exist in current being, it may not have the opportunity to grow as fast as after it merged with RHBIB. I believe the same goes when RHB merge with CIMB. As a larger entity, CIMB/RHB post merger will likely to post higher profit due to cost synergy and also market domination, and hence their valuation.

As I write earlier, OSK will benefit from the increasing valuation of larger CIMB/RHB. Shareholders of CIMB/RHB, which constitutes EPF, Khazanah, Aabar, Mitsubishi, OSK, will likely receive more dividends to lower down their cost of holding.

Thus, OLH might be interested to increase his share in OSK by way of swapping the shares of OSKProp. Therefore he needs to depress the share price of OSK and increase the OSKProp to get more share. This is just my prediction. After all, it is up to OLH to make his move.

KLORR/EKVE is among 7 highways which will start construction next year. Should be a good catalyst for their Sg. Long project.
http://klse.i3investor.com/blogs/valueinvestorresearchklse/60149.jsp

New MB for Selangor on Tuesday. Should put a definite answer wether Langat 2 project carried out or not. If yes, they will likely to conclude by end of year 2014.

everyday share buyback. haha. yesterday directors transfer large amount of shares from nominee account to own account. something brewing.

no big announcement except for share buy back

agree. most shopping mall are built for people living in city. they should build more in suburban areas.

btw, nice investing strategy james70

wow! symlife is deeply undervalued by then!

Back in April, Ong had mentioned that OSK will venture into new business, and hinted that it will be their property arm that they want to develop further, which I believe taking the footstep of TA Global Bhd (TA global had gone international and currently fresh from buying Trump hotel).

Back to the story of OSK, I believe that Ong might possibly know that the merger of Cimb-Rhb-MBSB is coming. EPF and Khazanah might have approached him to get the support for the merger before making official announcement last july. Wether the merger will be succesful or not, is highly dependant on current discussion and we'll know early next month. If it indeed happen, OSK will likely be the biggest beneficiaries due to the lockhorn between EPF and Aabar. Post merger of CIMB-RHB-MBSB, Osk will cease to be substantial shareholder (below 5%). Osk can continue to keep the stake in the larger entity or sell to it to either EPF, Khazanah, Mitsubishi or even Aabar to consolidate their shareholding. I believe Ong might want to keep the stake and received higher dividend from bigger bank entity. OSK can even sell the 2.8% stake at higher price when the merger is completed.

Now, comes the exciting part. After the conclusion of the merger deal btwn cimb-Rhb-mbsb, Ong might want to announce his plan for OSK as he had mentioned back in April. Market rumours is that OSKProp/PJdev will merge/acquire each other. However i personally believe that OSKprop will be taken private by OSK through share swap, with PJDev absorbed later. Ong had tried to privatize OSKprop before at cheap valuation but he failed. I believe he might learn from past experience and he will likely to offer oskprop at high price to get more osk shares.

Ong will have tighter grip on Osk by exchanging his 73.8% stake in oskprop to Osk and enjoy lucrative dividend from bigger cimb. The dividend can be ploughed on acquiring more shares in pjdev. besides the acquiring of OSKprop will address the issue of lack of main business by OSK, especially after Cimb-Rhb-mbsb merger. This year has been good for both Oskprop and Pjdev, with Oskprop is expected to double their profit (annualized EPS approximate 40cent) and PJDev benefit from the sale of Menara PJD. Both company are owned by Ong and likely to be developed further to be international developer.

power88, based on the list of landbank that you have mentioned, wouldn't you mind to work out the current market value if the land is revalued this year. I believe the NTA shall be much higher than RM2.00 now.

haha. I'm counting on bonus issue. for the past 2 weeks, the price is 'controlled' to be at upper side.Their Oil& Gas subsidiary in Indonesia is growing fast. Exciting looking ahead.

Next AGM they will announce shortlisting of QA to 1 from 2. Incapable management.
Last year they rushed to list IPO as if they already had something in hand but actually got nothing . Huhu

actually i've missed huayang too.

Nice article from Bursa dummy
http://bursadummy.blogspot.com/2014/09/head-to-head-oskprop-vs-huayang.html

If the Selangor state government proceed in acquiring the portion of Sg. Long land, it is good if Symlife is compensated with another land (land swap). However cash payment is also not bad if Selangor state gov pay at market rate. The money received can be used as working capital to fund other development projects. Based on 2014 Annual Report, 419 acres Sg. Long Land is valued at RM143 million, which I believed will fetch higher price based on recent transaction in that area. It was last revalued in 2012. SymLife also may wait for EKVE to be firmed up on the resumption of the highway project, as they can launch at better price with EKVE as selling point.

Don't forget that Symlife also have 259 acres landbank in Sg. Petani under their subsidiary, Kejora Harta Bhd. If I not mistaken the landbank is part of Bandar Amanjaya, which is near to Bandar Puteri Jaya, which is currently developed by OSKProp. This might next engine of growth, considering that Sg. Petani is fast developing thanks to 2nd Penang Bridge and high property prices in Penang Island.

Going forward, I believe SymLife may be inclined towards joint-venture since they do not have the luxury of low-cost and huge landbank as compared to other property developers. They have managed to secure several JV in Kelantan and PJ this year, and hopefully more will come. I personally like the JV with landowners since they do not have to commit huge money to buy the targeted landbank, instead the money can be usde as working capital for development.

They have also mentioned in the latest annual report about mitigation of delay in launching projects by appointing new staffs to address this issue. Good stocks like Symlife wont be like Glomac. I did remember Inari was traded around RM0.80 to RM1.10 for quite some time before finally flying off to where it is now.

Cheers!

Need volume to push higher

Time to add!

hari-hari mau naik. Personal TP RM3.50-RM3.80.
Kalau oskprop bagi lagi div 5 sen apart 5 sen declared, year end NTA RM2.02.