Jobst: One last chance to milk the cow? (Revised with inputs from others)

Jobstreet just announced that it has been offered by Seek to buy Jobstreet's online job posting business for RM1.73 billion. With that, Jobstreet will distribute RM1.7 billion in the form of dividends to shareholders. After the sale and distribution, Jobstreet will be left with the below.

The above could still be worth around RM0.32 to RM0.35 although the large part of Jobstreet has already been sold off.

Through my calculation, there are about 650.5 million (revised to 708 million) of outstanding shares inclusive of employees options, which some have yet to be exercised. At distribution of RM1.7 billion, that comes to about RM2.40 of dividend to be distributed to shareholders.

At its current traded price of RM2.54, the dividend distribution of RM2.40 and RM0.0175 (interim dividend) together with RM0.32 of net assets that's left, Jobstreet is trading at 7% discount - and don't forget, I am getting a huge chunk of cash - i.e. RM2.4175 per share in say within 6 months time upon completion of the sale.

7% discount in 6 months comes to about 14% return annualised - which is decent, and I do not know why investors are selling.

Although I am sad that Jobstreet is selling its main business, this is still one last opportunity to make some decent return. Hence, I just bought a small sum of 4200 units.

DUKE's valuation at RM760 million, so...

The Sun ran a post which claims that the valuation of RM760 million which Ekovest provided for MRCB was too low. There are even some estimates that DUKE could be valued as high as RM1.4 billion.

DUKE is a 18 km highway linking Ulu Kelang and Jalan Duta's toll (NKVE). Obviously, it is a very strategic road. I am just wondering how much would a much longer highway linking south of Klang Valley and Taiping be worth?