The value of one OSK share is approximately to RM1 of RHB RM 1 of OSK properties 20 sen of construction/industries/hospitality = approximately RM2.2

https://cedarvillenews.com/osk-holdings-berhad-5053-kl-ticks-higher-4-40-for-the-quarter/321426/

One OSK share = RM1.074 (Properties) RM0.929 (Financial

One OSK share equal to RM1.074 (Properties) plus RM0.929 (Financial

One OSK share = RM1.074 (Properties) RM0.929 (Financial

One OSK share = RM1.074 (Properties) RM0.929 (Financial

What will you get in term of net assets when you purchased one OSK share (based on Sep 31, 2018 quarterly unaudited report)?

One OSK share = RM1.074 (Properties) RM0.929 (Financial

The hidden growth of OSK: Is OSK a growth company? Two major factors and a bonus. First is OSK 10.13% associated RHB with strong growth as everyone aware. Second is the Property Development Division, as according to OSK was quiet in 2018. However based on unbilled sale of OSK properties as in Dec 31, 2017 was RM 1.1 billions and as Sep 31, 2018 the unbilled sale increased to RM 1.43 billions with minimum unsold complete unit. A 30% increased during quiet period of 9 months...was quite impressive.

The hidden growth of OSK: Is OSK a growth company?
Two major parts

OSK fair value: 1.06
Relative valuation: 1.35
NTA: 2.18

OSK 10.13%-associate RHB Bank Bhd continue to trend up and has recently risen to be among the top analyst picks for banking counters amid strong quarterly income growth and expectations of normalising operating expenditure moving forward.

https://www.afr.com/real-estate/commercial/hotels-and-leisure/hilton-to-return-to-melbourne-with-600room-flagship-at-melbourne-square-20190117-h1a6c5

The new Hilton will form part of Malaysian developer OSK's colossal $2.8 billion Melbourne Square project in Southbank, which is currently under construction.

OSK owned 10.13% (or 406,171,520 shares)of RHB, what's mean? It mean each OSK share owned about 0.1955 RHB share. Also mean that by current RHB share price of RM5.43, each share OSK owned = 0.1955*5.43=RM1.062 RHB value. If based on RHB NTA of RM5.82 = 0.1955*5.82 = RM1.138 RHB NTA value. Based on EPS of RHB of 54.80sen will also contribute to OSK in EPS of = 0.1955*54.80=10.713sen per share. This is like buy a discounted RHB for OSK with free attachment of OSK property...way under value

OSK has some institutional shareholders of around about 5%. Among them including EPF, Public Mutual, Kumpulan Wang Persaraan, Dimensional Fund Advisors from US, Norges Bank Investment, Hosking Partner, Stanlib Multi Manager, BlackRock Fund Advisors, Nomura Asset Management Singapore, Mercer Global investment Europe. These local and foreign institutional funds play some market movers role in OSK stock price as well, some shares sold and bought. Currently the institutional shareholders had been increased to about 5.6% showed some confident level of OSK

PH government should showed better with >7% dividend

http://www.theedgemarkets.com/article/osk-propertys-astera-iringan-bayu-achieves-100-takeup

OSK Property’s Astera at Iringan Bayu achieves 100% take-up

Look like OSK doing not bad in properties development

According to The Australian Financial Review, OSK Property has sold almost 70 per cent of the apartments in stage one of its $2.8 billion Melbourne Square project worth almost $500 million.
https://www.afr.com/real-estate/residential/vic/melbourne-square-offtheplan-sales-hits-70pc-20180726-h135p1

2017 annual report OSK EPS was 19.27 sen only pay 6 sen as dividend. I remembered OLH committed to pay 60-70% of earnings as dividend before

With current EPS of OSK around 12.38 sen but only pay DPS of 5.5 sen was too less, OSK should willing to pay more dividends for the shareholders as committed in the past. Or to increase the shareholders value through stock buybacks. OLH should improve OSK reputation...learned examples like Public bank,

RHB move up and OSK still relaxing

merging

i believed he will continue to take the current opportunity to accumulate more stocks while it’s still low

JJchan, i think you get wrong information somewhere on the ownership of OLH on OSK. According to 2017 annual report he owned direct/indirectly of 47.16% of OSK. Recently announced update his ownership increased to 49.92%. No doubt that he took the advantage as major shareholders to purchase as much stocks when the value is very much cheap during the low market sentiment. It’s also showed us that as small shareholders, you’ll not able to beat him. Good hunter sometimes always very quiet.

Merging

wow....ASB bought 5 million Sunreit shares

Actually OSK is a double discounted stock price with first discount for NTA 2.18 difference of 0.9 of 142% and also second discount with ownership of about 10% current RHB stock also at price of 5.35 difference of NTA 5.82 with discount price of about 8.8%. With the performance of RHB and the potential rise of RHB stock price...if over 6 as many analysts predicted target price, then OSK value is ready to bounce

I think YTL too focus on the development of western countries, miss the opportunities of the Asia countries like China, Vietnam, Thailand or Indonesia

It should be Tom Dick

Post removed.Why?

Total in Dec of OLH already acquired of 1.419 million shares of OSK @ around price 0.86

Like it or not, OLH bit by bit acquired OSK at low:
- 31 Dec 2018 300,000 units @ 0.87
- 28 Dec 2018 184,900 units @ 0.878
- 27 Dec 2018 165,000 units @ 0.865
- 26 Dec 2018 105,000 units @ 0.858
- 24 Dec 2018 39,000 units @ 0.861
- 21 Dec 2018 626,000 units @ 0.855

OLH started to deal outside buy at value low for OSK

OSK: Decides to call off Hong Kong listing plan for good. OSK Holdings has decided to permanently abort its plans to list indirect subsidiary OCC Cables Ltd on the back of continuous adverse global market conditions. OCC Cable was supposed to be listed on the Hong Kong Stock Exchange last Oct. However, the listing plan was put on hold a day after its public offer closed. “Save for approximately RM12.1m costs in relation to the listing, which will be expensed off to the consolidated statements of comprehensive income for FY18, the abortion of the listing is not expected to have any material impact on the consolidated earnings per share and net assets per share of the company for FY18,” OSK said. (SunBiz)

Overall sunreit for the last three years had been expanded with their footprint and business very well with good dividend pay quarterly. However the stock price movement only around flat at 1.6 averagely. Looking at the expansion of the biz will sooner or later reflect into the stock price.

It’s weak price performance with historically poor seasonal period. Low volatility as well. 1-Year -16% negative return. Will it bounce back in 2019?

I think YTL business model is too Westernise and focus too much on the Westernise countries like UK, Australia, Singapore, Japan

Likely patience will pay

With currently undervalued of OSK and the NTA...plus the obvious increased potential value of RHB. Possible his net worth will again multiple in near future

He also managed to increased his ownership of OSK through his major shareholder investment strategies of warrants/bonus issues, OSK Properties and PJD acquisition and etc. ...through time of undervalued stocks, he gained his value in long term ownership strategies

He managed to expand the OSK investment banking business in the regional footprint in which significantly add value to OSK. Then sold the investment banking business to RHB in exchange of RHB shares plus additional cash.

OLH managed to multiple his net worth through time mainly on his value investment strategies and took advantage as major shareholder to gain when the stock undervalued.

His net worth was in highest in 2015 reached USD435m.

His net worth was just USD130m as of June 2008 and was just USD240m in Mar 2017.

According to Forbes, OLH is among the 50 richest in Malaysia with a net worth of USD365 million as of 3/7/2018

VT was the famous croc around

Also too depend on gambling business which will not growth

Very hard to trust Vincent, he is not going to rewards the investors. His strategy always right pocket making money, left pocket taken away.

Based on the OSK 3rd quarter 2018 business segment analysis, the properties segment itself contributed in which total assets minus total liabilities RM3.43 B - RM1.18B = RM2.25 B. Then followed by financial services segment (mainly RHB) contributed of total assets minus total liabilities = RM3.506B - RM1.559B = RM1.947B (however based on the RHB share price now = RM2.1B). The rest of construction/industries/hospitality segments contributed of RM0.409B. Compared with the current share price value of OSK now only market cap only RM1.85B. Very much under value stock.

For 1 year comparison of share price performance of RHB and OSK, RHB increased 13.35% and OSK dropped by -15%. RHB current business performance is done well and efficient, OSK also in line maintaining profitable although didn't growths as much for the properties development sector with EPS of 12.28 sen or we other PE ratio of around 4.4. Really a good timing to accumulate OSK.

Also OSK accumulated additional RHB share through dividend reinvestment plan.