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Stock With Momentum: OSK Holding
by Cals Thu 09 Jul 2015, 01:00
Stock With Momentum: OSK Holding
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By Asia Analytica / The Edge Financial Daily | July 8, 2015 : 10:21 AM MYT
[size=14]OSK Holding Bhd (-ve)
OSK Holdings (Fundamental: 1.4/3, Valuation: 2.6/3) saw renewed investor interest after its shareholders approved a special cash dividend of 15 sen per share and a 1-for-4 bonus issue of free warrants at an extraordinary general meeting on Monday. Both special dividend and bonus issue of warrants will go “ex” on July 16.
Shareholders also approved its acquisition of 72.4% and 31.6% equity interest in OSK Property (OSKP) and PJ Development (PJD) ([You must be registered and logged in to see this image.] Financial Dashboard) for RM346.4 million and RM223.6 million, respectively. The corporate exercise will see OSK Holdings diversifying into property development, construction, manufacturing of building materials, and hospitality businesses.
At end-May, OSKP has total gross development value (GDV) of RM4.8 billion for ongoing and future projects, mostly in Sungai Petani, Selangor and Seremban.
Meanwhile, PJD has total ongoing and future GDV of RM11.9 billion, including a future RM8.5 billion mixed development in Melbourne, Australia. It also has total outstanding construction order book of RM613 million.
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This article first appeared in The Edge Financial Daily, on July 8, 2015.
[/size]
[You must be registered and logged in to see this image.]
By Asia Analytica / The Edge Financial Daily | July 8, 2015 : 10:21 AM MYT
[size=14]OSK Holding Bhd (-ve)
OSK Holdings (Fundamental: 1.4/3, Valuation: 2.6/3) saw renewed investor interest after its shareholders approved a special cash dividend of 15 sen per share and a 1-for-4 bonus issue of free warrants at an extraordinary general meeting on Monday. Both special dividend and bonus issue of warrants will go “ex” on July 16.
Shareholders also approved its acquisition of 72.4% and 31.6% equity interest in OSK Property (OSKP) and PJ Development (PJD) ([You must be registered and logged in to see this image.] Financial Dashboard) for RM346.4 million and RM223.6 million, respectively. The corporate exercise will see OSK Holdings diversifying into property development, construction, manufacturing of building materials, and hospitality businesses.
At end-May, OSKP has total gross development value (GDV) of RM4.8 billion for ongoing and future projects, mostly in Sungai Petani, Selangor and Seremban.
Meanwhile, PJD has total ongoing and future GDV of RM11.9 billion, including a future RM8.5 billion mixed development in Melbourne, Australia. It also has total outstanding construction order book of RM613 million.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on July 8, 2015.
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