Guys, I wonder, it shows it's a stock split instead of a bonus issue yesterday. Suppose bonus issue the price should remain 0.14 instead of 0.13. What happened yesterday was stock split. Can someone please explain?
SHAH ALAM (March 3): ACE Market-listed electronic and industrial waste processor JAG Bhd is planning to unveil its maiden property development project in the third quarter this year (3Q2017). It has received the development order from the authorities recently.
The company has also received the approval from its shareholders to diversify into property development and property investment at the company’s extraordinary general meeting (EGM) today.
The property business will be spearheaded by a wholly-owned subsidiary company, JAG Land Sdn Bhd.
JAG Bhd executive director Datuk Nigel Ng Meow Giak said the company is glad to have received the strong support from its shareholders for plans to diversify into the property sector.
"Moving forward, we will be focused on ensuring the success of our maiden mixed development project in Klang, Selangor. We are currently finalising details from the aspect of design, concept and positioning and look to launch the project in 3Q2017," he told reporters after the EGM.
Seng Teik, Nigel and Tan at the media conference after the company’s EGM today. (Photo by The Edge)
The company plans to launch a mixed development project on a 3.33-acre site in Kampung Jawa, Klang. With a total gross development value (GDV) of RM155 million to RM170 million, the project will be developed over three phases and is set to be completed within four years.
Phase 1 consists of six units of four-storey shopoffices and a four-storey podium carpark. The second phase will be a seven-storey office tower with 69 office suites, one facilities floor and a three-storey carpark (in addition to the four-storey carpark in phase one).
Phase 3 will comprise two blocks of 17-storeys offering a total of 238 residential units and a facilities floor above the seven-storey podium carpark. The built-ups for the apartment units will range from 913 sq ft to 1,018 sq ft.
According to JAG Land project director Ng Seng Teik, the developer is looking at pricing the units at RM400,000 to RM500,000.
"The project has the advantage of being located in an established area, we are going to provide a product with nice design and concept but at an affordable price," he said.
Located on the same row as the Sentosa Specialist Hospital and NSK wholesale market, the land was acquired by JAG Bhd last year with a total purchase consideration of RM9.87 million.
Meanwhile, JAG Bhd chairperson and executive director Datin Stacey Tan Siew Ching said the company is looking for landbanking opportunities and joint ventures with land owners and developers.
"The property business has the potential to contribute at least 25% or more to net profits in the future, and we hope to achieve 50:50 ratio for the property business and waste business," she said, adding that the company regards the property business as a long-term strategy that will help it reduce its reliance on the waste business.
Bill, the share price can GAP up or GAP down on Opening and does not have to follow the previous day Closing. This happen to some counters everyday..So half an hour before Sessions Opening i.e. 8:30am, 2:00pm and 4:45pm (5 minutes), look for the TO price to get an indication if there is a GAP up or GAP down or remain same from last trading Price.
It is bonus shares since it was issued out of capital reserves such as accumulated profits and are issued at par value. JAG management are obligated to mention it in their announcement to Bursa/Shareholders since it makes a difference in Malaysia but not in Singapore which par value regime does not exist. This shows JAG management has positive outlook of their performance because they will not be able to raise funds in future if share price falls below par value.
From July to sept copper price increased from 2.70 to 3.20. Be patient friends u all will be rewarded soon. 54% revenue of jag is from copper business. Super abnormal profit should be expected
Datuk had made strong statement in his interview with The Busy Weekly Magazine. Jag successfully secured more contract from suppliers & invested RM2.5M to increase the current capacity. Overall, METROD, TAWIN & JAG are 3 copper related counters who will benefit from Copper Price hike.
It will continue drop untill 0.115 if i m not predict wrongly after QR announce is the lowest price for jag then we can sapu sapu sapu althounght result excellent but it still drop that is the strategy syndicate
If a healthy company like JAG show you all the sign of uptrend. Do you think u still have the chance to react? LOL. Be greedy when others are fearful =)
By end of today's business day(5:00pm) JAG will have to issue BONUS Share out of capital reserves such as accumulated profits and are issued at par value, if they have not accumulated enough. SELL at higher price because that is your BONUS from this exercise.
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Posted by bruce551133 > 2017-11-10 09:20 | Report Abuse
Ivan89, good spirit, i give u full support...up up up...jag... :-D :-D :-D