cash ballon to RM135 million, investments at market value = RM 205 million, wisma jobstreet has carrying book value of RM 14 million (which is below market value). AND no debt.
5:11PM JOBST SUBDIVISION / CONSOLIDATION OF SHARES (CHAPTER 13 OF LISTING REQUIREMENTS) SUBDIVISION / CONSOLIDATION OF SHARES (CHAPTER 13 OF LISTING REQUIREMENTS)
JOBSTREET CORPORATION BERHAD ("JCB" OR "THE COMPANY") (I) PROPOSED SHARE CONSOLIDATION INVOLVING THE CONSOLIDATION OF EVERY FIVE (5) EXISTING ORDINARY SHARES OF RM0.10 EACH IN JOBSTREET CORPORATION BERHAD ("JCB") ("JCB SHARES") INTO ONE (1) NEW ORDINARY SHARE OF RM0.50 EACH IN JCB ("CONSOLIDATED SHARE") ("PROPOSED SHARE CONSOLIDATION"); AND (II) PROPOSED AMENDMENT TO THE MEMORANDUM OF ASSOCIATION OF JCB ("PROPOSED AMENDMENT") (COLLECTIVELY REFERRED TO AS "PROPOSALS") You are advised to read the full announcement at http://www.bursamalaysia.com.
Paperplane maybe right.. no biz but overheads still need to be paid. Its normal for a price to be pushed up so that "certain" parties can dispose.. and later many peeps will give curses. Just me 2 sen lah ya..
those assets are cash generating assets. the nta is still rm0.4 now because 104 corp is an associate company for jobst and this investment does not need to mark to market. If 104 corp and wisma jobstreet is mark to market value, the nta easily surpass RM0.5 now.Rental income from Wisma Jobstreet and dividend from 104 corp will generate millions of income per year. jobst still holds 7% in 1010 printing listed in hong kong. 1010 printing has a decent dividend yield of 5.6%. All these are cash generating. No buy or sell call but just looking into actual figures.
consolidation 5 into 1 will make the share above RM 2.00 and also chances that it may drop to its lowest we have yet to see; there is no point in consolidation because it will become ill-liquid and less people will be interested if it is a RM 2.00 /share co as the cost of buying n selling will be increased n deter market manipulation.
limayseng that is the point of consolidation: to deter market manipulation and protect investors. Why get so excited over a company that no longer have core biz? That is why management wants to curb people from pumping up the stock and dump it when the price is high. Plus think about it, 10000 units of RM 0.40 is RM 4000. 2000 units of RM 2.00 is also RM 4000. The cost is still the same. But you are better protected from the ups and downs in high trading volume. I say it's a good move.
The overhead for JobStreet is very low after sell the core biz to Seek Asia. Therefore with the auto generated income from 104 Corp, rental of Wisma JobStreet building from Seek Asia and 1010 dividends are more than enough to cover all their headcount expenses. Therefore still consider very low risk as long as they able to identify and announce their next core biz before mid next year. Agree with nnmm that the NTA could easily surplus 0.5 when they really revisit and recalculate all their asset value. But I do hope they don't do it now first until they get their next core biz.
As far as the consolidation of their share. I'm not sure that the right move with current situation. One hand, it definitely good as it protect the real investor as the price up not easy people can manipulate the share. That mean the share price should be more stable.
But without the core biz yet does not see the value of doing that. Well I could be wrong and let user this opportunity to learn from JobStreet to management decision.
I suppose this is case by case basis. Good luck and all the best.
i feel quite strange, why the company still pay dividend ? because they not more online business, should dont have so much profit, should stop give dividend.
unless they are now planning move to new business , that's why they have confidence to success it.
sharp pull back may offer good chance of price going N in near term...Those who bought at its lowest 44.5 r also losing monies now....n those who bought high at 46.5 r losing heavily....
jobst has transformed to a jobless street coz co has no job after sold all their businesses....n now looking for new venture ; the sooner it has secured a new one shall pose good opportunity for it to claim its lost glory provided the new job is as good as the old one....
maybe dia mahu buy over McDonald or KFC since now dia banyak $$$$$$$$$$$$ ha ha ha ha cash business mah, faster go buy buy buy if not ppl said u got no business
ya , as expected it bounces back into action because it just cannot lie there for long time without any substantial reaction after being labelled as jobless company....
no matter what negative comments written here...those who hold strong starting to get good returns from jobst via dividend and capital appreciation. good job.
always behave positively , the down will not last long coz many operators r eager to see its past glory reignited again! hence when u r holding this one , it will give u a sense of confidence.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
sayakamiyuki
367 posts
Posted by sayakamiyuki > 2015-02-25 20:42 | Report Abuse
Tp 0.33 buy cimb research