Testing the limits of our patience

On behalf of the Board of Directors (“Board”) of PNHB, Hong Leong Investment Bank Berhad wishes to announce that the Board of PNHB had on 14 September 2015 mutually agreed with Pengurusan Air Selangor Sdn Bhd (formerly known as Temasek Tiasa Sdn Bhd) (“Air Selangor”) for a further extension until 15 October 2015 for the fulfillment of the conditions precedent stated in the conditional sale and purchase agreement dated 11 November 2014 signed between the Company and Air Selangor (“SPA”) (“8th Extension of Time”). The Board of PNHB’s decision is premised on the fact that both the Federal and State Government had on 8 September 2015 fulfilled the conditions precedent in the Master Agreement.

http://www.stockhut.com.my/news/67171

Bought @ 85

cheoky: give millions LIKE !!!!

Bought some@ 1.07

Donation ?

Roger why cheoky is jolie2?..curious

Haha...Hidup Roger!!!

I think perfect storm is in the making

Unusual of big volume to sell WB too

Big fund from Roger ...big push is imminent

Bought more @ 1.08

Bought WB@ 1.7

Big shark pressing down WB?...

OMG...WB premium from 10sen to 3sen...strange?

Bone...u also stuck?

hng33 now is top 30 share holder

Need Hng33 bargain hunt and big push

Bargain hunt

Shaking out weak holder?

MIDF research report @ 9 September- Maintain neutral with an un changed target price (TP) of RM3.16

http://www.theedgemarkets.com/my/video-photo/the-edge-tv-featured/227231

KUALA UMPUR: Both the state and federal governments have kept to the 60-day deadline to sign the four supplementary agreements related to Selangor’s water asset consolidation exercise.

Four agreements were signed yesterday between state-owned Pengurusan Air Selangor Sdn Bhd (Air Selangor) and Pengurusan Asset Air Bhd (PAAB), which is controlled by the federal government. The agreements were the Facilities Agreement, Lease Agreement, Rights of Use Agreement and Settlement Agreement.

However, this certainly does not mark the completion of Selangor’s long-delayed consolidation exercise, simply because Pengeluar Air Sungai Selangor Sdn Bhd (Splash), the state’s largest water treatment plant, has not agreed to sell its water assets to the state government as the former demands a higher price.

According to Energy, Green Technology and Water Minister Datuk Seri Maximus Ongkili, the ball remains in the state’s court but the federal government may lend a helping hand to resolve the impasse if Selangor needs it.

“Now it is for the state to make the offer to them [Splash] and [work out] the costing and the federal [government] can then consider how much and how we can help,” said Ongkili, noting that the pricing for Splash was up to the state to decide.

“There are 12 months to conclude the restructuring of Splash, and there is about RM300 million left [from the RM9.65 billion allocated for the acquisition of the four water concessionaires by Selangor

“If the amount is more ... then the state government will do the proposal to the federal government if they need our help,” Ongkili said

Gamuda Bhd owns a 40% stake in Splash, while Tan Sri Wan Azmi Wan Hamzah and the Selangor state holds 30% each. Gamuda group managing director Datuk Lin Yun Ling once said Splash should be valued at least at its book value of RM2.8 billion compared to the state’s offer of RM1.8 billion.

The four concessionaires are Syarikat Bekalan Air Selangor Sdn Bhd (Syabas), which distributes treated water in the Klang Valley, Puncak Niaga Sdn Bhd (PNSB), Splash and Konsortium Abass Sdn Bhd. Both Syabas and PNSB are controlled by Puncak Niaga Holdings Bhd, which has agreed to sell all its water assets.

Selangor Menteri Besar Mohamed Azmin Ali, who was seated beside Ongkili at the signing ceremony, was tight-lipped on the price being ne- gotiated with Splash. “I don’t think we can reveal the amount now, as discussions are still premature. And certainly we will go back to the federal [government] to discuss the details,” he told reporters. But Mohamed Azmin is confident that the state should be able to conclude the negotiation with Splash before July next year.

The menteri besar said the signing of the four agreements had facilitated the completion of the master agreement and the release of up to RM2 billion from PAAB to Air Selangor as financing for the acquisition of the four concessionaires.

KUALA UMPUR: Both the state and federal governments have kept to the 60-day deadline to sign the four supplementary agreements related to Selangor’s water asset consolidation exercise.

Four agreements were signed yesterday between state-owned Pengurusan Air Selangor Sdn Bhd (Air Selangor) and Pengurusan Asset Air Bhd (PAAB), which is controlled by the federal government. The agreements were the Facilities Agreement, Lease Agreement, Rights of Use Agreement and Settlement Agreement.

However, this certainly does not mark the completion of Selangor’s long-delayed consolidation exercise, simply because Pengeluar Air Sungai Selangor Sdn Bhd (Splash), the state’s largest water treatment plant, has not agreed to sell its water assets to the state government as the former demands a higher price.

According to Energy, Green Technology and Water Minister Datuk Seri Maximus Ongkili, the ball remains in the state’s court but the federal government may lend a helping hand to resolve the impasse if Selangor needs it.

“Now it is for the state to make the offer to them [Splash] and [work out] the costing and the federal [government] can then consider how much and how we can help,” said Ongkili, noting that the pricing for Splash was up to the state to decide.

“There are 12 months to conclude the restructuring of Splash, and there is about RM300 million left [from the RM9.65 billion allocated for the acquisition of the four water concessionaires by Selangor

“If the amount is more ... then the state government will do the proposal to the federal government if they need our help,” Ongkili said

Gamuda Bhd owns a 40% stake in Splash, while Tan Sri Wan Azmi Wan Hamzah and the Selangor state holds 30% each. Gamuda group managing director Datuk Lin Yun Ling once said Splash should be valued at least at its book value of RM2.8 billion compared to the state’s offer of RM1.8 billion.

The four concessionaires are Syarikat Bekalan Air Selangor Sdn Bhd (Syabas), which distributes treated water in the Klang Valley, Puncak Niaga Sdn Bhd (PNSB), Splash and Konsortium Abass Sdn Bhd. Both Syabas and PNSB are controlled by Puncak Niaga Holdings Bhd, which has agreed to sell all its water assets.

Selangor Menteri Besar Mohamed Azmin Ali, who was seated beside Ongkili at the signing ceremony, was tight-lipped on the price being ne- gotiated with Splash. “I don’t think we can reveal the amount now, as discussions are still premature. And certainly we will go back to the federal [government] to discuss the details,” he told reporters. But Mohamed Azmin is confident that the state should be able to conclude the negotiation with Splash before July next year.

The menteri besar said the signing of the four agreements had facilitated the completion of the master agreement and the release of up to RM2 billion from PAAB to Air Selangor as financing for the acquisition of the four concessionaires.

http://www.theedgemarkets.com/my/article/four-supplement-agreements-selangor%E2%80%99s-water-asset-consolidation-signed

http://www.theedgemarkets.com/my/article/four-supplement-agreements-selangor%E2%80%99s-water-asset-consolidation-signed

http://m.selangorku.com/?post=80840

Federal government will provide a RM2b allocation to enable Selangor government to take over equities of the concessionaires and their liabilities.

Water,-government,-Selangor,-Maximus-Ongkili2

SHAH ALAM: The water restructuring exercise between the federal and Selangor state governments was finalised today with the signing of four agreements, said Energy, Green Technology and Water Minister Dr Maximus Ongkili.
The agreements – comprising the Facilities Agreement, Lease Agreement, Settlement Agreement and Rights of Use Agreement – are conditions to effect the master agreement for the restructuring exercise.
Ongkili said with the sealing of the agreements, Pengurusan Air Selangor Sdn Bhd (Air Selangor) should finalise the takeover of Puncak Niaga (M) Sdn Bhd (PNSB) and Syarikat Bekalan Air Selangor (Syabas) within two weeks when the master agreement comes into force on September 9.
“After the completion of the takeover of PNSB and Syabas, Air Selangor should also finalise the takeover of Konsortium ABASS within four months,” he told reporters after attending the signing of the four agreements between Pengurusan Aset Air Bhd (PAAB) and Air Selangor here today.
The agreements were signed by PAAB chief excutive officer (CEO) Ahmad Faizal Abdul Rahim and Air Selangor CEO Suhaimi Kamaralzaman, witnessed by Ongkili and Selangor Menteri Besar Mohamed Azmin Ali.
Under the master agreement inked on September 12, 2014, the federal government will provide a RM2 billion allocation to enable the state government to take over the equities of the concessionaires and, via PAAB, their liabilities totalling RM7.694 billion.
In return, the state government will hand over its water assets to PAAB.
These assets will be re-leased by PAAB to Air Selangor for a 40-year period, as practised in the restructuring of the water industry in other states.
Meanwhile, Ongkili said the Facilities and Services licences issued to Air Selangor will enable it to acquire assets in Selangor and provide water supply services in Selangor, Kuala Lumpur and Putrajaya.
“However, these licences will only take effect on February 22, 2016 to enable the fulfilment of the conditions precedent to the Facilities Agreement,” he said.
He said the state government had also given the necessary approvals to enable PAAB to continue with the construction of the Langat 2 water treatment plant and its distribution system, expected to be fully operational in 2019.
Meanwhile, Mohamed Azmin in the same press conference said negotiations between the Selangor government and Splash on the offer to take over water assets of the concessionaire were still ongoing.
He said the talks were still premature, with Splash given until July next year to conclude negotiations.
The Selangor government had made a net offer of RM250.6 million in February last year to buy the water assets owned by Gamuda Bhd.
Gamuda owns a 40% stake in Splash.
– BERNAMA

http://m.selangorku.com/?post=80837

Anticipating GAP UP!!!

KUALA SELANGOR: The long-drawn saga over the water restructuring deal between the Selangor and Federal governments has concluded after the final four agreements were signed between the two parties Tuesday evening.

The state's Pengurusan Aset Air Selangor (Air Selangor) and the Federal Government's Pengurusan Aset Air Berhad (PAAB) signed a set of agreements in accordance with provisions stipulated in the Master Agreement.

The four agreements, namely the Facilities Agreement, Lease Agreement, Settlement Agreement and Rights of Use Agreement were signed by Air Selangor chief executive officer Suhaimi Kamaral Zaman and PAAB chief executive officer Datuk Ahmad Faizal Abdul Rahman.

After the conclusion of the signing ceremony, Energy, Green Technology and Water Minister Datuk Seri Dr Maximus Ongkili told a press conference that the signing was a major milestone in the restructuring of the Selangor, Kuala Lumpur and Putrajaya water industry.

KUALA SELANGOR: The long-drawn saga over the water restructuring deal between the Selangor and Federal governments has concluded after the final four agreements were signed between the two parties Tuesday evening.

The state's Pengurusan Aset Air Selangor (Air Selangor) and the Federal Government's Pengurusan Aset Air Berhad (PAAB) signed a set of agreements in accordance with provisions stipulated in the Master Agreement.

The four agreements, namely the Facilities Agreement, Lease Agreement, Settlement Agreement and Rights of Use Agreement were signed by Air Selangor chief executive officer Suhaimi Kamaral Zaman and PAAB chief executive officer Datuk Ahmad Faizal Abdul Rahman.

After the conclusion of the signing ceremony, Energy, Green Technology and Water Minister Datuk Seri Dr Maximus Ongkili told a press conference that the signing was a major milestone in the restructuring of the Selangor, Kuala Lumpur and Putrajaya water industry.

http://m.selangorku.com/?post=80831

http://m.selangorku.com/?post=80831

By: Mohamed Azmin Ali

The signing of four agreements today between Selangor state-owned water company, Pengurusan Air Selangor Sdn Bhd (Air Selangor) and Pengurusan Asset Air Berhad (PAAB) marks the fulfilment of the 60-day deadline from the signing of the Supplemental Agreement of 10 July 2015.

This is a significant milestone in Selangor’s water services industry restructuring and consolidation exercise. The four agreements are the Facilities Agreement, Lease Agreement, Rights of Use Agreement and Settlement Agreement.

MB MOUThe Facility Agreement governs and administers the commercial terms and conditions of the lease and right of use over water assets for 45 years under the Lease and the Right of Use Agreements, while the Settlement Agreement sets out the terms of settlement of the water-related debts owing by the water concession companies.

The signing of these agreements facilitate the completion of the Master Agreement and the release of up to RM2 billion from PAAB to Air Selangor as financing for the acquisition of Syarikat Bekalan Air Selangor Sdn Bhd (SYABAS), Puncak Niaga Sdn Bhd (PNSB), Konsortium ABASS Sdn Bhd (ABASS) and Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (SPLASH).

In exchange, Air Selangor will be transferring up to RM2 billion worth of water assets to PAAB, which will subsequently be leased back to Air Selangor.

In addition, Air Selangor will be awarded a facilities license and service license, which will take effect from next year. These licenses will enable Air Selangor to provide holistic water supply services in Selangor, Kuala Lumpur and Putrajaya.

From 1 October 2015, Air Selangor is expected to take over SYABAS and PNSB and thereafter, as subsidiary companies, both will continue to provide efficient water supply services to consumers.

The provision of water supply services in Selangor, Kuala Lumpur and Putrajaya is expected to come directly under Air Selangor, as the new water services provider, in March 2016.

All efforts would then be focusing on further improving water treatment services, distribution systems, reduction of non-revenue water (NRW) and most critically continued and sufficient water supply to consumers.

The completion of the Master Agreement is a landmark event as a result of relentless concerted efforts and cooperation between the State Government and Federal Government to achieve a sustainable long term resolution that would return the rights over water supply to the people.

With the completion of the Master Agreement, the restructuring of the water services industry will be implemented according to the agreed plans.

MOHAMED AZMIN ALI
Chief Minister State of Selangor

http://m.selangorku.com/?post=80757

Roger123 I bet this week have no deal
02/09/2015 10:01

Anticipating gap up

Big relief as S’gor gets water from Pahang for first time
http://www.freemalaysiatoday.com/category/nation/2015/08/27/big-relief-as-sgor-gets-water-from-pahang-for-first-time/

Maintain neutral with a lower target price (TP) of RM3.16: Puncak Niaga Holdings Bhd’s core pre-tax profit continues to be in the red for the second consec- utive quarter. This is largely due to the operating loss registered by the oil and gas (O&G) segment that has widened to RM20.1 mil- lion. However, inclusive of the water segment (classified under discontinued operations), group net profit rose substantially by 17.7% year-on-year (y-o-y) to RM125.2 million.
The O&G segment represented by its derrick lay barge business registered a second quarter end- ed June 30 of financial year 2015 (2QFY15) operating net loss of RM6.9 million compared to an operating profit of RM7 million in 2QFY14. The segment loss was attributable to lower activity lev- els and job opportunities, which can be seen from a decline in rev- enue of 87% y-o-y to only RM20 million in 2QFY15.
The company remains op- timistic that a final resolve for the water asset transfer can be achieved in 2015. To recall, the company on July 14 agreed with Pengurusan Air Selangor Sdn Bhd to extend the dateline for the fulfilment of the conditions precedent for the proposed water asset disposal to Sept 14, 2015.
Due to the dismal performance of the group’s O&G segment, we are revising our FY15 ending Dec 31 and FY16 core net profit earnings estimates downwards by 60.6% and 62.9% respectively.
Puncak Niaga Holdings Bhd
Source: MIDFR
Post completion of the dispos- al of water assets, the possibility of a special dividend of approxi- mately RM1 per share remains. Although our total percentage returns far exceed our threshold level to warrant a “buy” recom- mendation, we are making an exception by maintaining our “neutral” stance on Puncak Nia- ga with a revised TP of RM3.16 per share.
We are of the opinion that in- vestors should remain invested in profit from the special dividend post completion of the water transfer exercise. However, the future of the company remains uncertain as its core businesses remain weak, especially its O&G segment, which largely relies on its derrick lay barge. — MIDF Re- search, Aug 26

KUALA LUMPUR: Puncak Niaga Holdings Bhd’s net profit slipped 0.6% year-on-year to RM59.54 mil- lion or 14.45 sen per share in the second quarter ended June 30, 2015 (2QFY15), compared with RM59.9 million previously, on lower reve- nue from its oil and gas segment.
Its revenue dropped 59.4% to
RM65.45 million in 2QFY15 from RM161.26 million a year ago, its filing with Bursa Malaysia showed.
For the first half ended June 30 (1HFY15), Puncak Niaga’s net prof- it rose 17.7% to RM125.21 million or 30.37 sen per share, compared with RM106.39 million or 26 sen per share in 1HFY14.
Revenue in 1HFY15 declined 24.9% to RM128.93 million from
RM171.77 million previously. Excluding the profit net of tax from discontinued operations re- ported by the group, the group re- corded a loss before tax of RM15.9 million, compared to a profit before
tax of RM3.2 million in 2QFY14. The discontinued operations referred to the business involved in the water restructuring exercise
in Selangor.
For 2QFY15, net loss from Puncak Niaga’s continuing op- erations amounted to RM13.3 million, compared to a net profit of RM2.8 million a year ago. Net loss from continuing operations narrowed to RM14.6 million in 1HFY15 from RM23.6 million a year ago.
The group is intensifying efforts to secure more projects for its trans-
portation and installation opera- tions of offshore facilities under the ongoing Pan Malaysia Package B contract with Petroliam Nasional Bhd, from 2014 to 2016.
It is also looking to expand its operations into areas related to its core business, both locally and abroad, and exploring opportuni- ties in new business sectors like oil palm plantation.

Scary plunge...DOW J -530....

Dow J -358.....another Red day

http://www.thestar.com.my/Business/Business-News/2015/08/11/Syabas-sees-RM2b-needed-to-revamp-water-sector/?style=biz

hng33
Volatile market excellent opportunity for u to trade

Bought 10K @ 1.78

Bought 10k@ 2.68

Haha..pump high...dump low....

Bought 7K @ 5.69