As of March 2009 BJTOTO stood at cash flow of 230 millions. With recent active shares buyback to about 13m shares, do we expect another shares dividend ?? Obviously, no one would know except the management of BJTOTO. One thing for sure to give out shares dividend the current repository of Bjtoto’s share still far from it capability, they need at least balloon up to 100m shares buyback in treasury before June 2010 in order to be able to do so. Which mean another 87% shares require for this exercise to materialize. Lets assume shares buyback at an average price of RM4.35, thus, 4.35 x 87m = RM378m. A total of RM378m needed !? where is the money come from ?? Through borrowing again ??
So, I’m quite skeptical any shares dividend will be declared in the coming 4th quarter but however a likelihood of 3rd Q interim dividend is possible after they have advanced dividend payment of the 2 previous quarters. Judging the dividend payout every quarterly, it is time they exercise the 3rd Q dividend else we will actually truly ‘miss’ out 1 dividend following their norm dividend payout history. BUT don’t hope for big this time round, I am expecting around 5sen to 8sen 3rd Q dividend in March 2010.
Sold some GENM at RM2.86... :)
ReplyDeleteAlmost all stock ended higher for the first day of trading in high volume.
ReplyDeletePortfolio today make some adjustment: cut stake in Lonbisc, and Prt, realize paper profit, increase further stake in bsdreits, increasing averall weighting of REITs to more than 80%of margin line
REITs core stock
UOAREITs 65%
BsdREITS 65%
TowerREITs 25%
StarREITs 10%
Lonbisc 20.6%
Protasco 16.2%
Sold more GENM at RM2.87.. :)
ReplyDeleteWith today sold off all Genting SP at $1.29-1.30, Singpaore portfolio have realize about 35% return. This amount of gain will be transfer back to Msia and to boost fixed income assest, mainly bond fund.
ReplyDeleteThe capital left in Singapore will stay or may opt to partially invest in U.S market.
With above adjustment, Msia Portfolio will not need to divest and cash out. Portfolio will continue to compound exiting capital with leverage from growing margin line.
Market more than 9pts, horse your GENM continue to soar, at 2.94 now, heading 3.00 soon...
ReplyDeleteBought UOAREITs at 1.30
Bought IGB at 1.99
ReplyDeleteBought Axiata at 3.09
ReplyDeleteSold off all Axiata at 3.13; IGB at 2.01, realize althogther more than a k intraday profit :D)
ReplyDeleteSold some Lonbisc at 1.03, realize papaer profit
Bought rcecap 0.69 and sold 0.71 to gain intraday... :)
ReplyDeleteSold some Genting at 7.56.
Sold some IOIcorp at 5.62.
Bought YNH at 1.60
ReplyDeletebought CIMB at 12.94
ReplyDeleteSold off all YNH at 1.62; realize few hundred intraday gain
ReplyDeleteSold more Lonbisc at 1.04
ReplyDeletesold more Lonbisc at 1.05-1.06
ReplyDeleteBought IGB at 2.00
ReplyDeleteJust sold back all IGB at 2.02, realize second round intraday gain
ReplyDeleteSold Lonbisc at 1.07. :)
ReplyDeleteSold off all CIMB at 13.00, realize some transaction cost loss
ReplyDeleteBought IGB again at 2.00
ReplyDeleteUpdate protfolio
ReplyDeleteREITs core stock
UOAREITs 73%
BsdREITS 65%
TowerREITs 25%
StarREITs 10%
Protasco 14.7%
IGB 8.5%
Lonbisc 8.4%
Bought back Lonbisc at 1.04. :)
ReplyDeleteSold more GenM at 2.95.
Sold off all IGB at 2.04; realize nearly a k, T+1 profit :)
ReplyDeleteStock start under selling pressure.
ReplyDeleteSingapore resort set to open on 20 Jan may cap GENM upside potential. Wait to buy on weakness.
Bought Genting 7.50
ReplyDeleteJust sold back all Genting at 7.57, realize few hundred intraday gain :)
ReplyDeleteBought GENM at 2.90
ReplyDeleteSold Protasco at 94-94.5sen
ReplyDeletejust boought back genm at 2.90 for the batch sold at 2.95.
ReplyDeleteGenting rebounded strongly.
ReplyDeleteGenm still a big laggard dispite index surge.. :(
Further increase stake of UOA and Bsd. Bought UOAREITs at 1.30; BsdREITS at 1.30
ReplyDeleteI think big market player are trying hard to push index up above 1300
ReplyDeleteopening of resort singapore will have impact on genm share? not much of a boost leh... maybe special dividend to celebrate this occasion?
ReplyDeleteSold GENM at 2.90, realize transaction cost loss; bought back IGB at 2.00, realize higher intraday gain
ReplyDeleteUpdate protfolio
ReplyDeleteREITs core stock
UOAREITs 82%
BsdREITS 73%
TowerREITs 25%
StarREITs 10%
IGB 8.5%
Lonbisc 6.8%
Protasco 6.2%
WG,Favours&Bell,
ReplyDeletewa, long name, i hope a special dividend announce after Feb 2010, else this guy will be tangling around this region... :(
Bought Tenaga ta 8.13-8.15
ReplyDeleteBought UOA at 1.29
ReplyDeleteHi,
ReplyDeleteFrom your latest posts, I found that you always calculate the shares a company to buyback in order to give dividend.
Why company have to buyback shares and then give dividends?
Why company have to buyback shares and then give dividends?
ReplyDeleteOne of the reason is to benefit/reward shareholders i think. No necessary as always company will give as share dividend after share buyback, it is totally upto the company discretion. They might want to opt for retirement of shares, indirectly also benefit the sharesholder whereby no. of shares in open market has reduced, increase EPS value. No one would know what the management decide until they publish the news, coz is an offend if leak company information out...
Hi horse,
ReplyDeleteI am still confused. From your post, you mentioned that BJTOTO is buying back 13% which means still have 87% need to buyback.
If BJTOTO always use money to buyback shares, then how can they afford to give dividends? I mean they use a lot of money to buyback shares, how they have money to give out as dividend?
If company buyback shares in order to give dividend that would cost a lot right? Why don't the company just directly use the money they use to buyback shares to give out as dividend? That would be less cost right?