the most peaceful bonus issue in the world, announce drop a bit, confirm drop a bit, later ex date drop a bit , then after bonus issue also dropvq bit haha lol
Insider news: Target price 1.40 after the bonus announced. The melbourne quarter has started the construction site. The display office on the site just finish building recently and expect to open soon so expect the big long queue when the stage 1 units release to the market.
OSK Melbourne square have achieved 55% take up rate even before officual launched in 6 Oct> the first phase GDV is RM 3.0 billion, 55% take up rate translate in to unbilled sale for RM 1.6 billion
The Disposal and Yarra Park Subscription are expected to increase the net earnings of OSKH Group by approximately AUD38.2 million (or RM129.0 million) and a foreign exchange gain on the total investment in Yarra Park of RM49.2 million which was previously recorded as foreign exchange reserve; or a total increase of 12.86 sen per share for the financial year ending 31 December 2017.
The above deal already completed in 8 Aug 2017, therefore the net gain of disposal of its 49% stake to EPF will realize in coming Q result to be release end of next month.
-OSK Melbourne square have achieved 55% take up rate even before official launched in 6 Oct, the first phase GDV is RM 3.0 billion, 55% take up rate translate in to unbilled sale for RM 1.6 billion.
OSK have divest partial of its stake to EPF and realize one off gain EPD 12.86sen to be recognized in coming q result
OSK Austrail have reduce stake after disposal to EPS, efective stake now reduce from 79.30% to 40.44%. Although shareholding have bee reduce, but, OSK still retain project management right to develop Melbourne square.
3 Construction - Orderbook RM 534m
4 Industrial and cable - Capitalize on mega infra work
5 Hospitality - To improve in tandam of more tourist arrival
The upcoming OSK result is report as undiluted before bonus EPS, but, current market price is diluted after bonus share, give rise to even higher arbitrary increament in EPS for coming q result.
OSK associate RHB bank just posted q result, EPS 12.2sen, cumulative 3Q already at 37.2sen, annualized likely to surpass 50sen, at very undemanding valuation PE <10x.
The Group registered revenue of RM314.45 million and pre-tax profit of RM243.34 million in 3Q17 compared with revenue of RM271.17 million and pre-tax profit of RM64.39 million in 3Q16, representing an increase of RM43.28 million or 16% in revenue and RM178.95 million or 3.8 times in pre-tax profit. The 3Q17 pre-tax profit improved primarily due to the one-off gain on deemed disposal of RM177.61 million arising from the dilution of equity interest in a subsidiary company in Melbourne, Australia and realisation of foreign exchange reserve thereof. In addition, higher profits generated from the Financial Services and Investment Holding and Construction Segments helped to offset the lower contributions from the Property, Hospitality and Industries Segments.
Yup, the profit is one off in nature, therefore, record 1 time.
The rest of Austrialia Melbourne square will record 3-4 year later as LUMP SUM profit as Australia adopt build and sell instead of Malaysia based on progress billing
Buyer in Australia after pay 10% to signed SPA, they have 3-4 year time to secure banking facilities, and once property ready, bank only will pay developer after completion. OSK is expect another record big lump sum profit in next 3-4 year time. Come back again later then.
The detail of GDV and expected profit after completion project all already stated clearly in the EGM circular posted in bursa website. I am no in position to comment further OSK as already sold out to avoid bias view. Thanks
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warrant has high gearing ... every 1sen increase in warrant equivalent to 5.64 sen increase in mother share ....