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Let me help you understand why is OSK crazy undervalued with this thought exercise.
If a company is giving you 20% dividend yield for next 10 years, will you buy? You will probably say yes.
Now instead of pampering you, the company takes 3 quarters of the dividends, to reinvest in business with ROI >8%. So now you receive 5% dividend, and the other 15% goes back to invest in solid businesses on your behalf. If you receive dividends as cash, you will likely store it in bank or buy other stocks which is very troublesome or poor returns. Buy just holding OSK, they are helping to reinvest your money while also providing enough money for your admin expense or livelihood depending on whether you are individual or a fund or a company. Just buy holding one stock, your daily expense taken care of, and you still get additional investment returns of 15% a year that will compound every other year at 8% p.a.
I will argue that OSK not paying all profits as dividends is better than paying you 20% in dividends. Current share price will not last long.
I understand shareholders frustration with stagnant counters. But this round things are a bit different from 5 years ago. Every single thing about OSK today is a lot better OSK 5 years ago. And OSK was already cheap 5 years ago. Going up to RM 1.50 should be no problem
If you study the share price carefully, price to value has never been this cheap. It is the cheapest yet. It has to go up to its historical price to value ratio. It is however, unfortunate that property stocks rarely trade at intrinsic value. We must bear with undervaluation but not at this price, it should at least trade at RM 1.50