no announcement at all...
don't know what's up...
maybe Japanese is acquiring..
as we can see Japanese Mitsubishi and Abardeen is keeping acquiring their shares lately...
but EPF disposing instead
but yesterday formed a shooting star..
just now in the morning price dropped to 4.78 low and then shoot back to 4.89...

Aberdeen nibbling at Oriental shares
Written by Kamarul Azhar
Tuesday, 06 December 2011 11:14

PETALING JAYA: Aberdeen Asset Management plc has been slowly nibbling at shares of conglomerate Oriental Holdings Bhd and controls about 44.62 million shares or 7.19% equity interest in the company.

At end-March this year, the fund had about 38.1 million or 6.14% of Oriental shares. Aberdeen first surfaced as a substantial shareholder in September last year, with 31.08 million shares or 5.01% equity interest. At yesterday’s closing price of RM4.46, the block of shares it owns in Oriental is worth some RM198.99 million.

At the same time, the Employees Provident Fund (EPF) has been paring down its stake in the company.

In July 2010, EPF’s holdings in the company stood at 58.68 million shares or 9.46%, making the fund the company’s second-largest shareholder after Boon Siew Sdn Bhd, which has a 52.76% stake directly and indirectly.

As at Nov 30, EPF’s stake in Oriental stood at 44.25 million shares or a 7.13% stake.

“Oriental has about RM2.7 billion in cash and it only has loans and other short-term debts of around RM500 million. The group is basically sitting on a RM2.2 billion pile of cash, which makes it an attractive stock to buy,” an industry observer told The Edge Financial Daily.

The observer said the group’s net cash position could be the reason for investment funds to acquire its shares.

As at Sept 30, the group held cash and cash equivalents of RM2.8 billion while its total current liabilities amounted to RM896.48 million, of which RM540.45 million constituted loans and borrowings.

The group’s current assets stood at RM3.5 billion, out of RM6 billion of total assets. As at end-September, the company’s net tangible asset per share stood at RM6.98.

On top of its cash pile, the group has been consistently making profits. Profits for the past five financial years were well in excess of RM200 million, with the highest recorded at RM323.92 million in financial year 2007. The group registered RM249.59 million in net earnings for the financial year ended Dec 31, 2010.

For the nine-month period ended Sept 30, the group recorded RM179.73 million in net profit, up almost 44% from RM124.85 million in the same period last year.

According to Bharat Joshi, assistant investment manager at Aberdeen, as the group’s biggest value lies in its huge cash pile, Oriental’s assets are also undervalued.

He said some of these assets have not been revalued since the 1970s.

The group has diversified its earnings base from the traditional automotive distribution business under Boon Siew Honda company to oil palm plantation and property development.

“The group’s oil palm plantation business has been doing very well. It has close to 60,000ha in Indonesia and this segment has become the group’s anchor earnings contributor, overtaking the automotive distribution and autoparts manufacturing businesses,” said Joshi.

The plantation business contributed RM397.95 million or 16.5% of the group’s total revenue, lagging behind its automotive business with RM1.16 billion or 47.9% of the total.

However, in terms of profitability, the plantation division posted RM151.07 million or 47.8% of the group’s total profit before tax, outpacing the RM16.7 million recorded by its automotive business.

Oriental’s share price increased by 17 sen or 3.94% yesterday to end at RM4.48. Year-to-date, the stock has lost some 19.86% of its value.

“I think investors have started to appreciate that the stock has been undervalued,” said Joshi. “In uncertain times like this, cash is king. Investors might be banking on Oriental pulling off some interesting manoeuvres in the near future.”


This article appeared in The Edge Financial Daily, December 6, 2011.

---

Added on December 8, 2011, 2:33 pmOriental’s share price rises 6.9%
Written by Kamarul Azhar
Wednesday, 07 December 2011 10:30

PETALING JAYA: The share price of Oriental Holdings Bhd shot up by 31 sen or 6.9%, making it the top gainer on Bursa Malaysia yesterday, and extended Monday’s rebound to RM4.79 from near year-to-date low of RM4.31 last Friday.

The stock has rallied by more than 8% since the beginning of this week.

Investors may have realised the underlying value of the stock, as the company is sitting on a huge pile of cash with most of its assets being undervalued, and some not revalued since the 1970s, according to Bharat Joshi, assistant investment manager at Aberdeen Asset Management Asia Ltd.

Aberdeen holds 44.63 million or 7.19% of the group’s shares as at Dec 6, up from 31.08 million shares or 5.01% it held in September last year.

“I think investors have started to appreciate that the stock has been undervalued. In uncertain times like this, cash is king. Investors might be banking on Oriental pulling off some interesting manoeuvres in the near future,” Joshi told The Edge Financial Daily on Monday.

As at end-September this year, Oriental’s net asset per share stood at RM6.98.

Investors might have taken the cue from Aberdeen which has been slowly increasing its stake in Oriental via the open market since emerging as a substantial shareholder in September last year.

While Aberdeen is raising its stake, another substantial shareholder — the Employees Provident Fund (EPF) — is paring down its holdings in Oriental.

The EPF currently holds 44.05 million or 7.1% of Oriental’s issued and paid-up share capital. This is down from the 58.68 million shares or 9.46% it held in July last year.

Joshi added that Oriental’s cash pile at end-September which stood at RM2.8 billion could be an essential buffer during uncertain times.

As at end-September, Oriental had short-term debt commitments of RM896.48 million while its long-term borrowings amounted to RM34.93 million.

Joshi commended the company’s expansion of its oil palm business especially in Indonesia, where it has 60,000ha, as this segment has become the group’s anchor earnings contributor, overtaking the automotive distribution and auto parts manufacturing operations.


This article appeared in The Edge Financial Daily, December 7, 2011.

This post has been edited by GregPG01: Dec 8 2011, 02:33 PM

"According to Bharat Joshi, assistant investment manager at Aberdeen, as the group’s biggest value lies in its huge cash pile, Oriental’s assets are also undervalued.

He said some of these assets have not been revalued since the 1970s. "

Seems like Aberdeen is thinking the same way as i think...
before the surge of price, total market cap is just around RM2.4 billion...
even lesser than the total cash & bank balances and a little premium over net cash..
did not even include their land banks and assets.

The analysts have been mentioning about undervalued assets in Oriental for eons........

last i remembered was since the 90s.....still the same. Those days, they had the Honda franchaise.

So Joshi is not the first...........

in the 90s their share price did shot up to 14.90 after the founder death...
but now they lost the Honda franchise to Hicom so they might be off the radar of many analyst...
and hugely undervalued...

HSBC has many many undervalued properties, some last valued in the 1800s.......so?

Methinks this sort of valuations depends on what the company does. Its not as if the company is
gonna liquidate and split the sales income with you?

well, that's a different case..
HSBC did have a lot of properties..
and what they are going to do with it??
their major business is in banking sector.

while for this company, they have a property arm which build houses and condominium here in Penang.
so they can utilize the land and those land can be sold to lock for profit too (depends on those directors willingness).
2 of the largest residential area in Butterworth Taman Bagan and Taman Bagan Lallang is built by them.

Sharing.

=====

Oriental Holdings Berhad – What if You had Bought and Held?

I happened to be reading the Annual Report of Oriental Holdings Berhad (ORIENT) the other day and came across a statement by Chairman Dato Loh Cheng Yean:

“A holding of 1,000 stocks in Oriental when it was listed in 1964 would translate into 40,255 Oriental stocks worth RM263,670, based on the share price of RM6.55 at the end of 2007. In addition the stocks would have earned a total gross dividend of RM137,660. The gross dividends received and the appreciation in value is equivalent to a remarkable average rate of return of 14.60% for each of the 44 years.”

This sounds pretty good… see once again we’re talking 40 years. I find Oriental Holdings to be quite “remarkable” because it is such a diverse collection of different businesses which include auto assembly, auto parts manufacturing, oil palm, hotels, property etc. But 85% of its RM498 million Operating Profit is from auto and oil palm.

Source

Oriental privatisation target?
By DANIEL KHOO
danielkhoo@thestar.com.my

KUALA LUMPUR: Oriental Holdings Bhd, which had seen its share price jump by as much as 16.5% in the past week, could be the next privatisation target.

Sources said this followed several announcements of corporate moves which would probably be a prelude for greater things to come.

“This will always catch the market by surprise. The buying of the Kingsley Hotel for about RM202mil is definitely a pointer to bigger things to come for Oriental,” a source said.

It is learnt that Oriental's single majority shareholder, Boon Siew Sdn Bhd, may decide to privatise the company to strengthen its position as part of efforts to regionalise the company.

Boon Siew Sdn Bhd, founded by the late Tan Sri Loh Boon Siew, has a 43% stake in the company. Today, it is controlled by Loh's family, which is said to be also undergoing a leadership transition very soon.


The word is out that their grandsons will take over the helm of the company within this year or next.

It is also understood that the company is in talks to purchase more land for its plantation ventures in Indonesia while the major shareholder also has big plans to purchase some parcels of land in Britain and the United States.

“They want to shore up their presence in the Western economies. But before this, they want to ensure the company is firmly in the Loh's family control.'' said another source.

Oriental, which had surged by 90 sen or 16.5% in the past trading week, could garner more interest once these leadership handover plans are firmly in place.

Market observers also point out that the share price decline by 27 sen on Friday could be a knee-jerk reaction to the lower year-on-year quarterly net profit, which was announced on Thursday.

Oriental recently announced that its year-on-year net profit for the fourth quarter ended Dec 31, 2011 declined by 12.8% to RM108.77mil on the back of a 15% drop in revenue to RM718.55mil.

However, for the full financial year 2011, Oriental saw its year-on-year net profit rising by 15.6% to RM288.5mil on a slight decline in revenue from RM3.23bil in FY2010 to RM3.1.3bil.

In notes accompanying its financial statements, Oriental said the lower revenue was due to inventory shortages in its automotive business segment, which was one of the main contributors to earnings.

However, profits rose because it was able to sell some of the existing models slightly higher than its carrying value.

EPF raises stake in Oriental Holdings
Written by Kamarul Azhar
Tuesday, 15 May 2012 13:50

PETALING JAYA: The Employees Provident Fund (EPF) increased its shareholding in Oriental Holdings Bhd (OHB) to 9.26% as at May 11 from its lowest holding level of 6.29% on March 14, according to filings with Bursa Malaysia.

The EPF had held an 8.86% stake in OHB as at May last year, but pared it down to 6.29% as at March 14. However, the EPF began buying OHB shares over the last two months amid the latter’s surging share price.

The retirement fund is currently the second largest shareholder in OHB after the Loh family, which owns over 55.28% equity interest.

An official from the EPF declined to comment, except to say that the confidence the EPF had in OHB must be the reason why the fund had been buying the company’s shares of late.

“We are not going to buy any stock in companies that have not been performing well, right?” he said.

EPF is currently the second largest shareholder in OHB after the Loh family.

The market value of the EPF’s shareholding in OHB was RM387.6 million as at May 5, when the share price hit a 52-week high of RM6.80.

Other substantial shareholders in OHB include Aberdeen Asset Management Sdn Bhd (AAM), a unit of Aberdeen Asset Management plc, which holds a 7.8% stake.

AAM is interested in OHB’s cash reserve, said Bharat Joshi, an assistant investment manager at the asset management company.

“In uncertain times like this, cash is king. I think investors might be banking on OHB pulling off some interesting manoeuvres in the near future,” said Joshi.

As at Dec 31, 2011, OHB’s cash and near cash items stood at RM2.89 billion, up from RM2.6 billion in 2010. Its shareholders’ fund stood at RM4.4 billion in the same period, up from RM4.13 billion in the previous financial year.

OHB’s strong balance sheet has enabled it to embark on major acquisitions, such as its purchase of hotel assets in London worth over RM200 million.

The group has also posted stronger earnings in recent years due to its aggressive foray into oil palm plantations in Indonesia.

OHB’s net profit stood at RM270.16 million in FY11 ended Dec 31, which was an 8.24% increase over the RM249.59 million recorded in the previous financial year.


This article appeared in The Edge Financial Daily, May 15, 2012

Oriental recent high at 6.80

Lately pullback is a great opportunity to collect, currently trading at 6.40

research paper from cimb. bookmark here for future reference. .

Pearl of the Orient
Having re-invented itself over the past two decades, Oriental Holdings
is making a strong comeback as a diversified conglomerate grounded
in plantations, autos and real estate and supported by a balance sheet
that is rich in cash and assets

---

Added on August 4, 2012, 10:56 pmValuing the overseas assets
Oriental was way ahead of the curve in investing overseas before it
became a major investment theme for Malaysian corporates. We have
revalued its overseas real estate assets, which were mostly acquired
during the early 1990s, to increase our RNAV by 10%.

This post has been edited by GregPG01: Aug 4 2012, 10:56 PM


Attached File(s)
 Orient_by_CIMB.pdf ( 820.17k ) Number of downloads: 41

The hidden gem is being noticed

東方實業加速拓展

熱股評析 2012-08-06 19:01
（吉隆坡6日訊）東方實業（ORIENT，4006，主板消費品組）手持25億令吉現金，未來數年料加速拓展海外種植和酒店業務，加上旗下海外資產價值或遭低估，前景可期。

該公司自1991年開始投資海外種植和酒店資產，許多資產皆是在97年亞洲金融風暴前買下，導致實際價值遭低估。根據分析員重新評估結果，該公司海外資產價值約15億令吉，但淨有形資產卻只有7億2千600萬令吉，顯示價值有龐大上揚空間。

為反映海外資產重估，分析員上調每股重估淨資產值（RNAV）1令吉10仙，至每股12令吉52仙。

儘管該公司領導層變動導致海外併購活動一度沉寂，但根據管理層最新指引，公司將動用其充裕現金，尋求海外種植和酒店資產併購機會，包括把種植地擴大至160公頃，該公司今年2月在倫敦收購酒店也顯示歐債危機帶來投資機會。

另外，相信該公司接下來可能進一步擴大保健資產規模，建立強穩長期資產組合，而且就該公司目前股價來說，種植和汽車業務價值完全未反映在股價上，股票價值明顯被低估。

主評：聯昌研究
評級：超越大市
目標價：10令吉↑（星洲日報／財經

those holding this company following my call now had been greatly rewarded..... ....
almost 80% profit now....

This post has been edited by sjz: Aug 7 2012, 01:06 PM

This gem has been covered from time to time, just it's growing on it's own sweet time.

now is RM8... worth to invest??

Cool

This post has been edited by GregPG01: Aug 14 2012, 07:53 AM


Attached File(s)
 oriental__cimb_.pdf ( 570.22k ) Number of downloads: 14

really undervalued counter when he recommended it.. trading at cash on hand.

<title>Hot Stock - Oriental rises on privatisation talk, share purchase by owner</title>

KUALA LUMPUR (Dec 4): The share of ORIENTAL HOLDINGS BHD [], controlled by the family of the late tycoon Tan Sri Loh Boon Siew, has been rising sharply since last Friday (Nov 30) on talk that it could be privatised by the Loh family.

The near year-round purchases made by the Loh family's Boon Siew Sdn Bhd and last six months of share acquisitions by two foreign substantial shareholders — Aberdeen International Fund Managers Ltd and Mitsubishi UFJ Financial Group (MUFG) have also driven share prices up.

"Oriental's share price surge on Friday could be a precursor to a major development - a privatisation. The Loh family & Aberdeen have been buying. The action by the former is significant," said a banker.

At 3.59pm, Oriental share rose 11 sen or 1.3% to RM8.28 on volume of 97,000 shares. Earlier in the day, it hit a new-year high of RM8.34.

Yesterday, it fell to RM8.18 on profit taking after surging 30 sen to 52-week high of RM8.30 on Friday with 2.54 million shares on that day.

According to Bursa Malaysia records, the Loh family represented by director Loh Kian Chong and Boon Siew Sdn Bhd has been purchasing the stock since February this year.
The latest purchase was seen on Nov 22, when Boon Siew's direct stake was raised to 43% and Loh Kian Chong's deemed (direct and indirect) interest was raised to 55.93% after one million shares were acquired at RM7.983 per unit.

Meanwhile, Aberdeen and MUFG as well as local pension fund Employee Privident Fund (EPF) have also been actively acquiring the share in the open market in recent months, according to Oriental's filings with Bursa Malaysia.

On Nov 29, Aberdeen acquired 299,000 shares from the open market after buying one million on Nov 23. These recent purchases raised its stake in Oriental to 6.69% on Nov 29.

On Nov 28, MUFG acquired 30,900 shares from the market after buying one million on Nov 23, thus raising its stake to 8.6% on Nov 28.

While EPF was not consistent in its market operation as it was also seen selling at times, its last purchase of Oriental shares was on Nov 26 and Nov 28, after selling one million shares on Nov 23.

From early February's RM5.30, Oriental has risen to over RM8.30 today. This means that over the past 10 months, the stock price has gone up by 57%.

lol..... thanks Greg, but i think alot of ppl that have good holding power is laughing to bank.

Still keeping...