TTJ Holdings

[BlueKelah]

That's definitely a very high possibility! In fact, there may be one company already doing it.

For TTJ, the question now is how much is the company worth post TERUSAN LODGE I .

Assuming TTJ experiences 1) removal of 30% of full year profits due to dormitory, 2) Business in structural steel does not slow down; we can reasonably expect annually about 3 cents EPS. With most of its book value now in current assets (hence book value of about 35 cents),

How much should this company be valued at, barring the possibility of a shareholder unfriendly mgmt

<Still vested>

with big reduction from dorm income, there is no more significant recurring income. most of TTJ increase in share price and valuation is probably due to this recurring steady income.

There is also probably a slowdown in structural steel market(as can be seen by no more regular addition to order book as been happening past couple years and with TTJ tendency to bid only higher margin projects)  the likelyhood of a dip is very high. IMHO its already a foregone conclusion.

Reckon if the boss doesnt end up privatising this year as many are SPECULATING, once the poor result start coming in, which will only happen maybe in half a years time since the results in the short term will be reflecting the previous good year, market will probably value TTJ at 20c range, around 50% of its NAV.

If i was the boss I can predict that would happen. I just have to wait a year or so for the share price to correct and then start collecting at cheap prices, or activate the SBB to reduce the float and increase my % holdings.That will take another half year or so. Then when enough % liao then do the GO and no need to pay even NAV for the company

Just had a look the dip today on the bad news is already pretty bad, maybe some were speculating on the renewal of dorm business.

-n v-