Don't argue so much la...best conclusion is Puncak and Triplc to take over all red chips in Bursa....Shareholders of Puncak and Triplc should run for life....

Better to say Puncak and Triplc together to buy Hubline, MQ, Tech, Xin Quan, Red chips....wakaka

We don't know how much Rozali would distribute cash dividends. But at least we know the fixed costs of the operation is minimal and NIL of peatnut business to create funny funny things like what had happened in Puncak.

You repeat your kid stuff research and insists Triplc is valued 1.00....Simply pluck a figure to make people laughing. You are a sifu man....why so sour grapes for Triplc?

I know you are a shareholder of Puncak....be rational while analyzing a situation before simply jump into a conclusion...

Raider...Is it the grapes too sour and stuck at your throat. Don't simply make a comparison with Puncak before you dig more detail of Triplc....

Triplc will dispose its entire assets and business to Puncak so basically the fixed costs for the operation is minimal other than director remuneration of RM 2.6 million per annual.

What happen to Puncak? Director fees is about RM 17 million per annual...suffered losses from the disposal of China water assets RM 21 million...peanut business in water, construction and O & G could post more losses...so how to compare with Triplc??? Don't be always I think la....


Posted by stockraider > Dec 17, 2016 09:31 AM | Report Abuse

Raider says Existing shareholder Triplc will get roughly Rm 3.00 per share for a new listed company cash shell company loh...!!

The cash of the shell listed PEB is still control by Puncak & Rozali mah.....!!

Same case as Puncak net cash per share Rm 2.50
Now new listed PEB got net cash shell of Rm 3.00 per share.

Raider think Rozali will play the same trick as puncak earlier offer a dividend of Rm 1.00 to Triplc or the new listed PEB shareholder loh...!!

Nice joke!...Where's Cpteh's motto?

Puncak will dispose its water assets in China at a loss at least RM 21 million....

http://www.theedgemarkets.com/my/article/puncak-niaga-sells-stake-loss-making-chinese-firm-just-rm62m-settlement

I will vote No for the deal as it is too cheap to dispose to Puncak.. Triplc don't have to sell at such price as Puncak is desperately needed a profitable business to support its sky high operation costs....Price at least 3.5 per share la...

Jay. I don't think revenue and costs can be recognized for the first 3 years. Service is not considered rendered while a project falls under development stage. All the costs incurred during the development stages would be capitalized and amortization starting to apply when service is provided for receiving payment from the government.

Accounting 101: accruals concept means that revenue and costs are recognised as and when they are incurred, not when cash payment is received or paid. So my interpretation is revenue and costs should be recognised in the first 3 years when work is done, not when payment is received in the next 12 years while maintenance revenue will be recognised in the 12 years maintenance period. In other words, my take is that the development revenue for the build and deployment phase should be recognised by progress for the first 3 years while maintenance revenue will be recognised when maintenance works are carried out.

Windfall profit for Triplc shareholders. Congrate!

FLbhd has announced interim dividend 6 cents. It is far below the expectation of 10 cents to general investors. With the current share price 1.6, dividend yield is merely 3.7% or 30% payout from the net profit. The company is affordable to pay a dividend 10 cents consistently for another 7 years but.... Low dividend yield, No growth in revenue and EPS in near future couple with expecting PER 10x. Flbhd has nothing to shout now other than cash in its piggy bank.

CP teh positions he himself as a doomsayer or cut-loss sifu in investment community....Not that bad lah....Anyway, newbies need to learn the basic knowledge in share investment.

Sad to say.... no action has been taken to support the share price even though plenty of cash is available. It seems that Rozali is very happy to see the share price keeps hitting lower.....non of his business.

你有聽過'細水長流' 嗎? sedikit demi sedikit lama lama menjadi bukit

NTA ....it's correct not cash.... you said you read Triplc accounts...wakaka....you know what's the biggest portion of its assets ? What's positive cash flow generated from the operations for past 2 years...why so high NTA? Get an expert to explain to you to understand more la....don't be so stingy le...

Hng33. What you wanna prove with your findings....when I said not worth means 'not worth it ' . It's a lousy investment.. What NTA 2.56 la.... Concession contract 600 million la ...past EPS high la...all that craps ....all I can say it worths only RM 1.00 ....don't expect to change my mind.....dude

Puncak has not confirmed the offer price....immediately jump into a conclusion that investment in Triplc is a ' lousy investment ' ....this concession business is too complex....not worth to take a look into details.... Debt 300 millions and low revenue ...Puncak minority won't approve it....... Final conclusion....Triplc is worth only 1.00 in my eyes......

I have been talking Puncak by picking out figures from its report and announcement.....and do a bit calculation....at least I have done my job trying to understand Puncak business...not like....wakaka

If you don't understand concession business, don't simply talk la.... make people laughing only....not a bad joke. Wakaka

Puncak's director alone costs 17.5 million a year... Piggy bank got so much cash so 50 million for 3 years only ma...sup sup suoi la. Better sit on the laurel burning cash. Triplc is just a peanut business...not worth to consider it.

Better forget about the deal with Triplc lor....not worth it to minority....


So we wait and see how Puncak pay Rozali salaries with the existing peanut business....don't think about Management and Directors salaries can be capitalized wor...See what kind of losses Puncak would suffer for next 3 years...

I have never said that Plantation Expenditure (PE) is not an assets. Don't simply judge la... who don't know PE can't be capitalized...understood mah.

Puncak's plantation business will start contributing only after 3 to 4 years. The existing businesses are insufficient to cover the costs of operation ie directors and management salaries. They may explore potential synergy in the construction segment through acquiring Triplc business.

In addition, Puncak can fill up the empty gap for not having a profitable business for the next 3 years as Uitm construction could start contributing in year 2016 with a turnover between 100 million to 200 million per annual.

It's not easy to get the minority shareholders in the both sides to approve the deal at fair and reasonable price in the acquisition. Not sure whether Rozali would come out a special dividends to persuade Puncak shareholders for approving the deal.

Plantation expenditure 15k per hec for Puncak is quite conservative figures. You see how much plantation expenditure for other companies in Sarawak:
- TSH - 20k per hec
- Jtiasa - 22k per hec
- WTK - 24k per hec



Puncak will have to spend at least 746 million in new plantation business...Its piggy bank will reduce to 350 million even though stop acquiring any new company.

Net Cash in Bank: 1,100 million
Less: Acquisition: 446.5 million ( 60% plantation business 33,400 hec )
Less: Plantation expenditure: 270 million ( 15k/hec estimate 450 million x 60% )
Less: Palm oil mill : 30 million ( Estimate 50 million x 60% )

Posted by steveooikp > Dec 7, 2016 05:21 PM | Report Abuse

up_down
u mean the mgmt will not do anything with those cash?
the mgmt just sit there to receive director salary?
once acquire those profitable counters. QR will turn black

Steve. OSK and Coastal are not favored by the market..As I said it should be OK if you are a long term investor of Puncak.

Peanut price so forget about the deal lor....

You think minority of Triplc want to sell meh? Triplc can standalone without any need from Puncak.

Not easy to scout for profitable business nowadays. Triplc is able to contribute profit immediately but minority said not worth it so forget about the deal.

Steve. It takes at least 3 years for the plantation business to start bear fruit la...Don't expect any profit from this segment in next few years. It should be OK if you are a long term investor.

Yeah... plenty of cash but minority may not able to enjoy the cash in the form of dividend other than watching it depleting to acquire new business venture...

Steve. Minority claimed that it's not worth to acquire Triplc so....temporary no other profitable business to cover its current operation other than plantation business....

Puncak will have to spend at least 746 million in new plantation business...Its piggy bank will reduce to 350 million even though stop acquiring any new company.

Net Cash in Bank: 1,100 million
Less: Acquisition: 446.5 million ( 60% plantation business 33,400 hec )
Less: Plantation expenditure: 270 million ( estimate 450 million x 60% )
Less: Palm oil mill : 30 million ( Estimate 50 million x 60% )

Posted by steveooikp > Dec 7, 2016 05:21 PM | Report Abuse

up_down
u mean the mgmt will not do anything with those cash?
the mgmt just sit there to receive director salary?
once acquire those profitable counters. QR will turn black.

What your main intention of buying Puncak? Are you able to wait for at least 3 years for the plantation business to bear fruits? Can you bear with potential Nil dividend for next few years?

Dividends payment track record:

- 2016 - Nil dividend
- 2015 Special dividend - RM 1.00 ( after disposal water assets )
- 2014 - Nil dividend
- 2013 - 5 cents dividend
- 2012 - Nil dividend
- 2011 - Nil dividend

0% dividend policy....You are cruel man..you want Flbhd drop back to 1.00..

Puncak will have to spend at least 746 million in new plantation business...Its piggy bank will reduce to 350 million even though stop acquiring any new company.

Net Cash in Bank: 1,100 million
Less: Acquisition: 446.5 million ( 60% plantation business 33,400 hec )
Less: Plantation expenditure: 270 million ( estimate 450 million x 60% )
Less: Palm oil mill : 30 million ( Estimate 50 million x 60% )

Flbhd PER would be 9.6x if it can make EPS 16 cents in 2016....not really undervalued at this price...Dividend is still tangling..

It's a very small profit for a contract concession for constructing Uitm...worth 600 million on ma.... worth or not worth not because of talk talk...people know how to evaluate the price themselve lor....not through tailing sifu...

Better Puncak abort the deal la....Triplc can survive standalone with good profit....No need their lans minorities to approve the deal...

Your figure is too low....I guess 4 to 5 cents is good enough....

Flbhd got more than 80 cents cash in its piggy bank but refuse to pay even 1 cents to shareholders this year.....some more, profit warning in upcoming quarter... It's very hard to break the results of 31 Dec 15 la...

EPS
31 Dec 16 - Guess what???
30 Sep 16 - 2.79 cents
30 Jun 16 - 4.5 cents
31 Mar 16 - 3.21 cents
31 Dec 15 - 10.37 cents

If you like to see cash in piggy bank staying in the company for long long time....Better buy Kseng, Orient , SAB lor...they pay peanut dividend but at least happy to see cash keep in the bank.

Puncak no better than Triplc other than a bulk of cash sitting there waiting to be spent in new business until no more. It will become another high NTA company without cash.
Better Puncak stop acquiring Triplc lor... Don't need Puncak to buy over....

Existing peanut business is suffering huge losses. New acquiring plantation business takes at least 3 years to bear fruits. Piggy Bank got plenty of cash but Nil dividend so how?

No profit couple with suffering huge losses so No dividend. Puncak would use up its money to buy buy....plantation business and invest in mills .....profit contribution will only come true 3 years later. Are you a long term investor? Triplc is now the option helping Puncak return to the black immediately.

Mycron had gone up by 400% to 500% in less than a year couple with No dividends and weaknesses in market sentiments. Many have locked profits regardless of low PER.

Rakyat don't have any confident in our RM if our government doesn't take any stern measures. Then more people might dump RM due to incompetent of government. The government should curb excessive speculative activities of currency. Free float of currency is not really effective.....to let those unscrupulous bankers or speculators taking advantage during uncertainty situation. Low income group is the one would suffer in the end. Therefore, it would be a good move to stabilized RM against USD early to protect the economy.

No point keep arguing for triplc if you refuse to learn more information about this company especially when your mind is occupied with bad image of something. why I said this..... cause you said Triplc is a lousy investment to Puncak even offer price has not been confirmed...

You better check how much they charge for the maintenance before accusing of low maintenance fee....wakaka

Posted by stockraider > Dec 4, 2016 03:58 PM | Report Abuse

Triplc have nothing....else to show...other than UITM concession loh..!!

How much u can charge the govt just to maintain the campus ?
Not much mah....!!

Also everything go up....the maintainence cost will go up skill high but the fees already fixed loh....!!

U think Triplc is good as a contractor meh ??

Puncak is protected from LTH?...I don't see any...but I saw Puncak was suffering 100 million losses in last quarter. It seems LTH is not acting as a body guard leh...


Posted by stockraider > Dec 4, 2016 04:00 PM | Report Abuse

If i were u better sell triplc and buy puncak loh....!!

Safer and got bigger margin of safety and with tabung haji protection loh.....!!

Too low price offer to Triplc...Triplc minorities also don't want to sell la. Don't think Puncak acquisition is the only way out for Triplc MI. Triplc is a profitable company than can standalone whereas Puncak is cash rich but keep suffering huge losses. Better the deal call off. wakaka

Posted by stockraider > Dec 4, 2016 03:44 PM | Report Abuse

SIMPLE MAH....!1

IF ROZALI DISPOSE TRIPLC HIGH HIGH TO PUNCK &..BENEFIT FOR HIMSELF ONLY MAH...LTH JEALOUS LOH...!!

BCOS TABUNG HAJI...NO BENEFIT MAH....BCOS PUNCAK NEED TO BUY HIGH & SUFFER MAH.....!!

THATS WHY LOH....!!