Posted by azlan88 > 2014-10-09 20:26 | Report Abuse

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

Posted by alphajack > 2014-10-09 22:47 | Report Abuse

wowowow rly can hit 3 ringgit end of the year hahaha. so lucky I got 30k of wc today at 1.34-1.37

Posted by azlan88 > 2014-10-10 18:41 | Report Abuse

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

Posted by azlan88 > 2014-10-10 19:55 | Report Abuse

The deal is coming!

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

Posted by kudamuda > 2014-10-11 11:42 | Report Abuse

I also believe PJD would be the acquirer. PJD always say they target to become top 5 developer of the country. It also make sense that PJD acquire OSKProp as OLH seems having more direct holding in OSKP. If the deal is shareswap + cash, OLH can cash out & increase his holding % in PJD too.

What do you think?

Posted by alphajack > 2014-10-13 00:16 | Report Abuse

TIGA RINGGIT !!!

Posted by 88et88 > 2014-10-13 09:18 | Report Abuse

5 cents dividend?

Posted by Kian Leong Lim > 2014-10-14 13:53 | Report Abuse

I suspect Osk will acquire the merged entity in the end. Just like the rhb-cimb-mbsb hook-up. Mr. OLH may borrow the idea from Mr. Nazir. Stay put for the second wave. no need to hurry, still got wayang to see.

Posted by fundtrader > 2014-10-15 11:18 | Report Abuse

Good for those brave heart and people who can hold and wait. The day will come !!

Posted by Icon8888 > 2014-10-15 19:42 | Report Abuse

merger announced

http://announcements.bursamalaysia.com/EDMS/edmsweb.nsf/all/0A2E539E22EB7CDC48257D72003E2187/$File/OSKH_Announcement_Final.pdf

Posted by yktay1 > 2014-10-15 20:00 | Report Abuse

ong saja kaya

Posted by scchen1975 > 2014-10-15 20:47 | Report Abuse

DUA RINGGIT! Tomorrow drop

Posted by azlan88 > 2014-10-15 20:54 | Report Abuse

shit from mr ong.

Posted by scchen1975 > 2014-10-15 20:58 | Report Abuse

Any counters related to him I will never touched. He is such a stingy businessman. Dont expect anything good from him. Period. OSK PROPERTY RM2, PJDEV RM1.60. Now you know why PJdev drops like hell today

Posted by sengkee > 2014-10-15 21:10 | Report Abuse

Someone got a stock Broking firm and can get all the data easily. How to compete with him?

Posted by keelin > 2014-10-15 21:28 | Report Abuse

黄宗华出手重组手头上3家公司资产。
全盘重组涉及2个步骤，先由侨丰控股(OSKH，5053)向黄宗华家族收购手头上的侨丰产业(OSKP，6661)与辟捷控股(PJD，1945)股权，再向侨丰产业与辟捷控股的小股东作出全面收购献议。但是，侨丰产业与辟捷控股都不会除牌。
首先，侨丰控股会以3亿5528万令吉向黄宗华家族收购侨丰产业73.6%股权，每股收购价是2令吉，侨丰控股会发出1亿7764股新股来支付，每股新股订价2令吉。由于所收购股权已抵触须做全面献购的门槛，因此，侨丰控股会以同样价钱(每股2令吉)向小股东提出全面献购，小股东可选择现金或新股。
接下来，侨丰控股是以2亿2937万令吉价格，向黄宗华家族收购辟捷控股1亿4335万股股票或31.7%股权，每股收购价是1.60令吉，侨丰控股会发出1亿1468万股新股来支付。虽然所收购股权没有抵触须做全面献购的门槛，但侨丰控股自愿以每股1.60令吉向辟捷控股小股东提出全面献购，小股东可选择现金或侨丰控股新股。
在完成收购与献购后，侨丰控股会以4送1比例分送凭单，及派发每股15仙特别股息。
换句话说，黄宗华是把所持有的侨丰产业与辟捷控股注入侨丰控股，把投资集中在侨丰控股。这和市场预期侨丰产业与辟捷控股合并有很大落差。

Posted by superman123 > 2014-10-15 23:04 | Report Abuse

Pui ong untung semual pui.....pui puki

Posted by Icon8888 > 2014-10-16 00:12 | Report Abuse

http://klse.i3investor.com/blogs/icon8888/61833.jsp

Posted by Icon8888 > 2014-10-16 00:15 | Report Abuse

My preliminary thoughts on the merger

Posted by laughdieme77 > 2014-10-16 00:19 | Report Abuse

i beg to differ. OLH is the shrewdest stockbroker i ever dealt with. i have many dealing with him in the 90s. when osk was just a medium size broker. he handled n involved in all major deals hands on. i have made it a point not to touch anything OLH/OSK since.




Today, OSK launched take over offers for OSK Property and PJ Development principally via issuance of new OSK shares.



After studying the proposals, it suddenly dawned on me that Ong Leung Huat is the biggest loser of the scheme (and he apparently is not aware of that)



I believed the scheme was cooked up in a haste without giving proper thoughts on the actual implication on Ong Leung Huat's financial interest (Probably as a knee jerk reaction to recent market downturn which they thought provides a window of opportunity to create a smart deal to benefit Ong Leung Huat)



Whoever that conceptualize the deal should be fired by Ong Leung Huat. The old man has been badly advised.



I am ready to back up my argument with facts and figures. Unfortunately I have an early flight to catch tomorrow. So you all need to wait for probably another day before I come up with a proper write up.



My apology.

Posted by laughdieme77 > 2014-10-16 00:20 |

Post removed.Why?

Posted by laughdieme77 > 2014-10-16 00:26 | Report Abuse

in the 90s, so many brokers r bigger than osk. but OLH has the forsight to paid former bursa chairman to be osk chairman. and push for branches and Investment banks license and get to where he is today.

what happen to TA? and all others much bigger one? they were acquired.

i had many deals with him and he pick up call immedietely and always in office monitoring stock prices.

Posted by speechless > 2014-10-16 09:48 | Report Abuse

any advise on what the minority shareholder should do? we just keep hold it?

Posted by ks55 > 2014-10-16 10:26 | Report Abuse

Buy PJD at 70 sen to get DY 7%. Opportunity always knock 3 times!

Posted by wwwcomment > 2014-10-16 10:45 | Report Abuse

Anyone can tell me why oskprop-wc drop below rm1?

Posted by bennike129 > 2014-10-16 10:51 | Report Abuse

what happen to this counter?

Posted by berry > 2014-10-16 10:55 | Report Abuse

Go to OSKH counter to check how OLH repeated his old trick to PJPROPERTY & PJDEV, same kind of story - offer peanuts, not delisting, later, price will go up. So, dont be stupid.

Posted by kllow > 2014-10-16 11:41 | Report Abuse

I am greedy when other feel fearful ;O)

Posted by kllow > 2014-10-16 11:41 | Report Abuse

I buy together with OLH ;O)

Posted by he1008 > 2014-10-16 12:54 | Report Abuse

Pity the fools that bought mother shares and WC yesterday. Outplayed by an old fox.

Posted by ww123 > 2014-10-16 15:39 | Report Abuse

hello good day everyone ! As a newcomer to the Blog ,may i give little view of my own,if Oskprop is still listing on the board,the changing of hand between the "Two" at this stupid price is really none of our business, as long as our small shareholders with exceeding 20% don't give way.they cant do anything about it.And all this while we know very well that Oskprop is making a good profit and is reaching $3/= in near future.If Ong wanted to sell at Zero price is so ok for him,because is a changing of hand from right to left only, and somemore he can get control of Osk Holding.

Posted by ww123 > 2014-10-16 16:15 | Report Abuse

so our small shareholders please don't jump into the trap.the volume done today and the sharp fall in this short period , how do u know is not a cruel play by the big shark! please stay calm and DONT sell your share.!!

Posted by ww123 > 2014-10-16 16:22 | Report Abuse

This old fox is so cunning so that during this critical moment announced this "news". so the small shareholders will sell all their shares to him.Below market value !! What to talk about 1.5X book value ?? omg. how come he got no mercy on us ,the small shareholders which follow him so far?

Posted by enid888 > 2014-10-16 19:01 | Report Abuse

I did some analysis n found that OLH is on the losing side in this deal just like u n me. Atria with net lettable area of 500,000 sq ft will be opened within these 2 months and it is worth more than RM550mil (comparatively, Tropicana City's valuation is RM1,100 per sq ft). That works out to be about RM2.25/share just for Atria alone. Other revised net value that reflects the current values of development land like Cyberjaya, Sungai Petani, Shah Alam including other assets and liabilities are valued at about RM3.00/share. Therefore, the actual Revised Net Value of OSKP is worth RM5.25/share.

On the other hand, the land and properties of OSK Holdings had just been revalued in Dec 12 or Dec 13 which means the net book values has already reflected the present values. Taking into consideration of its holdings in RHB Capital, the revised net value of OSKH is abt RM2.65/share.

By this calculation, each share of OSKP is worth 2 shares of OSKH. It should be each OSKP share is exchanged with 2 shares of OSKH.

OLH holds 73% of OSKP, therefore it should benefits him more if the share swap is done based on the actual revised book values of both companies.

Posted by Icon8888 > 2014-10-16 19:11 | Report Abuse

Exactly. I arrived at same conclusion yesterday. OLH is swapping high growth potential shares of OSKP and PJDEV with a fully valued company (OSK)

http://klse.i3investor.com/blogs/icon8888/61833.jsp

Posted by enid888 > 2014-10-16 21:21 | Report Abuse

Icon8888, good to know that we hv the same views. However, how do u think the situation will develop? For example, if the minority shareholders (say 15% or 20% total shareholdings) did not take up the offer. What will OLH do?

Posted by speechless > 2014-10-16 21:24 | Report Abuse

Okay! lets hold together

Posted by Icon8888 > 2014-10-16 21:31 | Report Abuse

Enid888 I think the PJDev offer will very likely fail as they are starting from very low base.

OSKP is a bit risky. Officially, OLH holds 73.6%. However, if OSK manages to get 90% shareholding pursuant to MGO, OSKP will be delisted.

The delisting will force minority shareholders to accept the offer.

Posted by enid888 > 2014-10-16 21:39 | Report Abuse

OSKP Revised Net Value RM5.25/share.
Annualised Earnings @ RM0.42/share that may sustained price of RM4.20 at PE 10X.

OLH wants to swap at RM2.00. We lose big, OLH lose massive.

Posted by enid888 > 2014-10-16 22:34 | Report Abuse

Icon888, agreed with u. But in the situation that he is unable to get 90% or more, the delisting may not happened. However, how is OSKP going to comply to 25% shareholding spread requirement?

Posted by enid888 > 2014-10-17 12:49 | Report Abuse

Speechless, I will also hold on to my shares. Will not sell at this unfair price.

Posted by rextech88 > 2014-10-17 22:49 | Report Abuse

I agree with ww123 and icon8888, hold tight tight, OSKProp & PJDev are highly undervalued based on its fundamentals. It's not a fair deal by the oldfox to minority shareholders, expect a better proposal soon...

Posted by azlan88 > 2014-10-18 21:21 | Report Abuse

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.

Posted by alaninvestor > 2014-10-23 18:18 | Report Abuse

If OLH share swap his OSKP @ RM2.00 as well. I think he will not let OSKH trading @ RM2.00. Potential for OSKH to surge 40%-50% from RM2.0 after deal. (OSKP minority shareholder will get rewarded too from OSKH share price. Anyhow, same entry price with OLH mah)

Posted by gogorock > 2014-10-25 19:39 | Report Abuse

hi dear all, i am also burned with holding pjd and pjd warrants. Just starting to buy OSKH, should i sell off all my PJD-WC since there will be no egm for us to reject his proposal? Anyone can explain what is the process now since i understand there is no need of egm as this is a "willing buyer willing seller" and not > 33% by this cunning OLH?

Posted by azlan88 > 2014-10-27 12:37 | Report Abuse

just hold la. OSKh doesn't have financial muscle to take over PJD with cash. Unless they sell rhb stake. then you have to worry.

Posted by babu > 2014-10-28 11:17 | Report Abuse

hi azlan, once OSKH they sell rhb stake for cash, then we all fatt fatt instead of have to worry - reason is they must offer you a "good" price if not how to acquire all of pjdev ? It's always the acquiring company must pay a good price in order to acquire another company.

Posted by azlan88 > 2014-11-02 10:08 | Report Abuse

Copy paste from Pjdev page

a victim has complained to Security Commission & cc to Minority Watchdog Group on the following events: 

Event 1. On 10th Oct 2014 –appear in Star Online: PJD-OSK Property merger ‘quite soon’, no privatisation of merged company http://www.thestar.com.my/Business/Business-News/2014/10/10/PJDOSK-Property-merger-quite-soon-Ong-No-intention-to-privatise-merged-company/?style=biz The contents of the news: KUALA LUMPUR: A merger and consolidation exercise between PJ Development Bhd (PJD) and OSK Property Holdings Bhd is expected to materialise soon. Veteran stockbroker TSOLH said the exercise “will be quite soon”…. ….Meanwhile, he expects PJD’s net profit to grow by 20% for the financial year ending June 30, 2015. “This will be backed by the advancement of certain projects, with the majority of it coming from YOU City @ Cheras, among others,” he said. …..Yesterday, PJD received unanimous shareholder approval to purchase about 2ha of freehold land in Melbourne, Australia for RM432.1mil, equivalent to RM21,307 per sq m 

Question No. 1: Is the news and announcement misleading to the public? Now is not merger but tri-party private agreement. And announcement of merger and 20% grow, does it give false confident to the market? Market response on 10th Oct 2014: PJD CLOSE + 1CENTS UP AT 1.80, OSK PROP + 10 CENTS UP AT 2.45, but FBMKLCI down -21 POINTS & most counters down. Has the major shareholder declared the oncoming private tri-party Share Sale Agreement (SSA) before the AGM voting on the purchase of land in Australia, the outcome could have been different. The SSA was announced on 15th Oct 2014 and it is not ink over night. 

Event 2. On 14th Oct 2014, 6.32pm, BURSA web announcement: Changes in Director's Interest (S135) - Ong Ju Xing http://www.bursamalaysia.com/market/listed-companies/company-announcements/1765141 The Director is believed to be closely related to the major shareholder. Further study note that the changes is by his spouse purchase made in year 2013. 

Question No. 2: Why the Director made announcement for purchase made in 2013? Does it give false market confident again if one did not study in detail of the purchase? 

Event 3. On 15th Oct 2014, 7.22pm announcement of Multiple Proposal as per the subject of this letter. The market response with the counter OSK property & PJD gap down. 

Question No.3: Does this proposal contradict what is being said on 10th Oct 2014,as it is different takeover offer : mandatory take-over for OSK Property but voluntary take over for PJ Development. 

SC is to scrutinise the events and whether the proposal is in breach of any regulation, and check who are the buyers and sellers before and after the events.The action of the major shareholder has disrupted free market mechanism and able to manipulate market price...and able to outsmart the minority share holders at his mercy with paper shuffling,. .... dangerous precedent will be made by major shareholder of this modus operandi in future by depressing market prices to his advantage,... even if the security counter has good fundamental. & what will happen to the market if the major shareholder aborts his SSA abruptly?...... 

*********************************************************************************************************************** "Victims " are strongly encourage to write to the authority on the unfair action etc.. at your own extra points... 

For the benefits of those miss the details( TQ to Mr Ravi Kumar and many others help to compile the contact) 

Investor Affairs & Complaints Department Securities Commission Malaysia No 3 Persiaran Bukit Kiara Bukit Kiara 50490 Kuala Lumpur 
Tel: 603 6204 8999 
Fax: 603 6204 8991 
E-mail: aduan@seccom.com.my & CC to Lya Rahman General Manager, Corporate Services MINORITY SHAREHOLDER WATCHDOG GROUP (MSWG) 11th Floor EPF Building Changkat Raja Chulan Off Jalan Raja Chulan 52000 KUALA LUMPUR 
Tel: (603) 2070 9090 
Fax: (603) 2070 9107 & btw MSWG would be organising a forum where the issues can be discussed. The event will be held as follows: 

Date: 5 November 2014 
Time: 2.00 pm 
Venue: MSWG Training Centre, Minority Shareholder Watchdog Group 11th Floor, Bangunan KWSP, No. 3, Changkat Raja Chulan\ Off Jalan Raja Chulan, 50200 Kuala Lumpur 2 pm registration 2.30 to 3.45 pm PJDEV and OSKP (Takeover) 

Contact the following to register via phone or email 
Ms.Zairina zairina@mswg.org.my 
Mr.Vinodth vinodth.ram@mswg.org.my 
Ms.Sharon sharongoh@mswg.org.my 

Time to make your voice heard. Good luck.!! 

***************************************************************************************************** "The Only Thing Necessary for the Triumph of Evil is that Good Men Do Nothing "-Edmund Burke 
*****************************************************************************************************

Posted by ww123 > 2014-11-05 12:48 | Report Abuse

will the MSWG invites any press or media to attend our forum? so our voice will be heard in the public?

Posted by azlan88 > 2014-11-06 23:30 | Report Abuse

OSKProp today reported better earnings with EPS almost 30 cent. Quite unfair for minority shareholders since full year EPS will almost reach 40 cents.