(1) purchase of LV3 investment to hide the fact that its already a PN 16 company.
(2) the plantation deal is expensive compared to a recent deal from the seller, not to mention that this deal won't go through (not profitable or sufficient for a PN 16 company of Puncak size) if Puncak is a PN 16 company.
(3) TRIPLC deal that's clearly expensive.
(4) Most importantly, with each announced deal, Puncak share price has nowhere to go but now.

If BOD is so confident with their deals, its more than enough to require them to offer an option out if they don't want to participate with the new corporate ventures!

rMoi, Puncak BOD will never offer this unless SC forces them to offer citing unfair deals that some have raised concern and can't approve unless an option-out for them is presented.

valour, let me check with SC Monday. If there's no more than 5 indicating a desire to meet, I want to make sure SC will meet us Tuesday. I am from Penang, and I have planned up my trip particularly for this purpose. Even if its more than 5, I will propose to let us meet at SC office to decide who will meet with SC's staff on Puncak matter after we have chatted among ourselves. There's no venue for us to meet or decide any further action.

Particularly when I am merely asking to make sure Puncak offer a capital repayment option to let us GO?

Frankly, with my presented information, I was wondering why is it taking so long for SC even to offer help to minority shareholders?!? Puncak is really taking its minority shareholders like disposable diapers that have been used and 'experts', particularly those from CIMB, fooling us yet no action taken against them.

Reading the quarter reports and announced deals made me real worry, especially after so many privatization deals that offer way below net asset offer price to minority shareholders. There's a likelihood of Rozali doing that, something that can't be ruled out...

Until SC agrees to force Puncak offer a capital repayment option for minority shareholders opting out, I can't stop worrying, sigh!

rMoi, SC has asked to call off the meeting, citing too many wanting to meet. That's why I want to know who have called saying they would like to meet. This is intriguing, given less than 5 here saying wanting to meet SC. Thought you are one of those wanting to meet earlier.

rMoi, this reply is useless. Once the TRIPLC deal is completed, nothing can be done already. Furthermore, with recent cases of independent investment bank advising minority shareholders to take below net asset offer price at heavy discount to net asset due to non-performing share price, I am worried that will happen to Puncak too. So long Rozali is buying asset at premium and later offer to take Puncak private citing non-performing share price as reason, that would be like slapping minority shareholders of Puncak after using us like disposal diapers!

rMoi, this reply is useless. Once the TRIPLC deal is completed, nothing can be done already. Furthermore, with independent investment bank advising minority shareholders to take below net asset offer price at heavy discount to net asset due to non-performing share price, I am worried that will happen to Puncak too. So long Rozali is buying asset at premium and later offer to take Puncak private citing non-performing share price as reason, that would be like slapping minority shareholders of Puncak after using us as disposal diapers!

I have presented some materials to SC October 2016. However, I have yet to see SC act. Meanwhile, with the revealed TRIPLC deal, I can't say how angry and frustrated I am, especially when no action from SC yet.

Initially I plan to complete my complain and have it shown to you guys. Unfortunately, still haven't figured out how it should be written (I thought about presenting on Feb 14.)

rMoi, did you call to say you want to meet?

cheoky, SC called me to cancel, and asked me to form a committee with all those called so no more than 5 attend the meeting. Unfortunately, I have yet to know who else called SC wanting to attend the meeting. Sigh! Think I will call SC up Monday (the person in charge is not available today) to make sure the meeting will still be held on Tuesday.

Anyone here ready to discuss about the meeting with SC? In particular, may I know how many here have called and told SC that they would like to attend the Feb 14 meeting? I was told by SC that too many have called to meet. Intriguingly though, I have not seen so many here saying they would like to meet. Wonder why?

RM1.50? I'm happy with 0.60 - 1.00 range already...

To those who have called SC for meeting, could you kindly be around this website between 8:00 and 9:00 pm this evening to discuss our meeting with SC? SC has called me on concern too many have called and asked us to form a committee of not more than 5 before meeting them. Anyway, looking forward to hearing from you guys later 8:00 and 9:00 pm Malaysia time.

May I suggest that we all meet through here at 8pm tomorrow evening for discussion to decide whom to represent us and when to meet SC? Thanks

I will draft my complaint which I have hoped to achieve through meeting with SC by the latest tomorrow evening (I have initially planned to only do it during meeting with SC - partly because some complaints have been lodged with SC when I met them end of 2016 while partly because I have yet to conclude a few items which I hope to express.)

Please, to shareholders who have called SC seeking a meeting to actively read this site for update so I may speed up the scheduling and details of complain. And, please, write your concerns and your view here, so we can get it done soon. I am hoping to reschedule sometimes next week. Though, I can't post the time and date yet or ever so I can limit the number of participants to no more than 5.

I will most likely request to allow recording the meeting to be sent to shareholders seeking to know the details of the meeting but not able to meet or can't due to limit of attendees. However, I can't be sure of this as I have not received approval from SC on this (an idea I have only conceived after call from SC.)

First, I need to know who has called to schedule meeting (PLEASE COPY AND POST)?
1. kahhoeng

Second, who can best represent us to meet? I am hoping there will be at least one with a legal profession (any lawyer?)

Dear all concerned Puncak shareholders,

My sincere apology to all who have planned a trip to meet SC on Feb 14. SC has decided to call off the meeting on Feb 14 and urged us to reschedule with a maximum of 5 attendees (though not sure why the limit myself). Before posting here about the meeting, I have sought SC's permission to do so. However, I suppose SC has not expected to meet too complainants, so am I given the number of respondents wanting to meet SC is less than 10 based on what's posted here.

Anyhow, after receiving too many complainants' call seeking to meet, I received a call from SC around 10:20 this morning looking toward a rescheduled meeting with a limit of 5 by offering them 3 days option for their own scheduling purpose. I have raised my concern that I have posted on i3investor to gather support and its difficult for me to limit the number of participants. However, I was asked to do so by, hopefully, forming a committee to meet SC.

I am having difficulty posting, will try to post through my handphone

Somehow I can't post here through my notebook, will attempt a repost of my apology, request of those who have called to follow this site frequently for update and a rescheduled meeting with a maximum of 5 attendees. Thanks

Dear all concerned shareholders of Puncak, due to too many shareholders calling SC and looking towards to meet on Feb 14, I was asked to reschedule to meet SC with a maximum of 5 attendees. Again, offer 3 days for SC to their convenience. Will post slightly later with more details as I'm posting now through HP and tough to type

Dear all,

The information on the meeting with SC is as follow:
Date: FEB 14, 2017
Time: 9:30 A.M.
Venue: No 3 Persiaran Bukit Kiara, Bukit Kiara, 50490 Kuala Lumpur.
Contact Person: Mr. Sashi
Contact Number: 03-6204 8999
Mandate: Seeking 2.50 capital repayment in exchange for minority shareholders' share who oppose the TRIPLC and plantation deal

Attending list:

1. kahhoeng

p/s: please copy and paste before adding your username to the above, thanks

hopefully it will reach .475 high 2 years ago before consolidation... Will that help to bring it further up to the approximately 0.62 some 3 years back?

McD is owned by VT's himself....

FAIRnREASONABLE, quite frankly, I have little faith of Puncak's independent directors being independent and serving minority shareholders interests, nor any faith in Rozali taking interest protecting minority shareholders interests. And, I am not interested to meet Puncak BOD, finding them disgusting with only respect to the managing director, Datuk Syed Hisham, resigning a while after AGM due to 'health' issue. At least he resigned after listening to shareholders' complaint in the AGM and couldn't/won't/failed in addressing shareholders concern.

Issues have been raised before during AGM last year with 0, ZERO, action catering minority shareholders concern being exercised. Anyway, lets see what's the outcome of meeting SC.

Chonghai, I don't know what SC can do, but I know for sure nothing will be done if no one initiate complaint

lcwin PJ Dev is a property company rich in asset, so it can be any value, that's why we have some 'specialist' adviser telling us if the deal is 'fair' but 'unreasonable' or 'unfair' but 'reasonable'. Quite frankly, zero idea if these specialists really have a face so thick to even trying to come out with these fair, unfair, reasonable, unreasonable terminology. Anyway, Puncak is currently holding on cash per share of 2.50 and NA of 3.41. This is totally a different story already. That's why I am pushing for a capital repayment for minority shareholders of 2.50. If majority shareholder don't like us and treat us like disposable diapers, let us GO. Or, if the board/majority shareholder trying to buy new asset that can't reflect in share price, let us GO too. If SC can't act on this, then something is definitely wrong and need to be fixed!

My request is simple, Rozali has every right to buy anything, but a capital repayment of at least 2.50 per share in exchange for our, minority shareholders, share if we are not willing to participate. This is not MAFIA market, or PONZI scheme! And companies listed on BURSA are definitely not KONGSI GELAP! And this is the mandate I am hoping to reach meeting SC on Feb 14!

Bjcorp debt is really not that serious, primarily due to failed business venture in China and South Korea. On top of that, the Kyoto hotel needed money to build too years back, which is now completed. Once the funds from both deals are returned, one in the process while the other in court case, bjcorp debt can be reduced significantly, assuming no other new business ventures. In addition, bjcorp selling of Canadian business of late is raising over 200millions already. One thing I don't like though is the recent announcement bjland buying the 7-11 shares. Another thing is the details of the Vietnam Toto business whose contractual details not being announced, sigh!

Jay, this has been voiced out to Rozali in AGM already, with share price traded at such a huge discount to cash in hand, there's sign of money being squandered away. That's why I need SC action, hopefully I can persuade SC to look into it seriously. Anyway, best wishes to all.

leek, err... where do you get the news on Berjaya Jeju Casino? Thought BJCorp is firmed on suing to get money back already?

Jay, I am merely asking SC to require Puncak offering minority shareholders not trusting the TRIPLC or plantation deal a capital repayment in exchange for their shares in Puncak. After that, whether Rozali is still keen to takeover TRIPLC at 310 million is really not my concern anymore, cause I'm no longer a minority shareholder then. If Rozali takes private TRIPLC at RM 310 million through a privatized Puncak, congratulations to both of minority shareholders of Puncak and TRIPLC!

Best wishes to all retail investors in the Rooster Year of 2017

FAIRnREASONABLE, thanks. Best wishes to all in the Rooster Year. Even better when SC acknowledges our concern and Rozali was required to offer 2.50 capital repayment to shareholders seeking exit.

Those not willing to let others know who you are, you can always let SC know that you prefer not to have your identity revealed in anyway. I believe there's a clause of confidentiality. Plus, we are investing, and Malaysia securities market is definitely not Ponzi market or mafia market. So, don't be shy if we find injustice in the acts of a few majority shareholders and would like to seek action taken against them.

But you have to let SC know who you are, or how else SC can act? On behalf of some phantoms?

FAIRnREASONABLE, I don't need you to reveal your identity to me, but I need you to reveal to SC. If you can't trust SC to tell them who you are, how do you expect SC to act on your behalf? That's why I suggest everyone, to attend meeting with SC or not, to CALL up SC. Let them know who you are and you are concerned over Puncak's share price and announced deals thus far.

To those who have agreed to meet SC, please make sure you attend or at least call. I don't want to give SC the impression that I am making up identities. Thanks.

I suggest meeting SC first before any resolution primarily because Rozali is holding 40+% shares in the company. Its difficult to get things right when the controlling majority shareholder is managing the firm.

my understanding the winning percentage is pretty much fixed one... More or less the same, a sure win game for operator and government collecting the taxes, but not buyers

been having difficulty posting just now, don't know why?!?

csengc61, I didn't use your username to make appointment with the SC. if you are concerned, whether coming or not to the meeting, call Mr. Shashi up to let him you know you are concerned investor.

FAIRnREASONABLE, SC has one and only one email contact: aduan@seccom.com.my. Email and call after email for confirmation should be enough. I believe your username has little value. Your true identity with SC should be meaningful though.

I have tried to message LTH, but with no reply. Guess they are not keen, but at least I have informed them our intent. Also, I have posted on investalks, hopefully there will be more joining.

Angiess, about email list, you don't mind posting your email address here? Or, do you prefer creating a temporary email address for this purpose?


PLEASE, TO CONCERNED INVESTORS, PLEASE CALL SC UP AND LET THEM KNOW YOU ARE A CONCERNED INVESTOR. YOUR TRUE IDENTITY WITH THEM HAS MEANING. I DON'T HAVE TO KNOW, NOR AM I KEEN TO KNOW. MAKE SC KNOW YOU ARE AWARE AND CONCERNED. I DON'T KNOW WHAT SC CAN DO FOR US, BUT WE SHOULD TRY. REAL UPSET WITH HOW PUNCAK BOD BEEN TREATING US, LIKE DISPOSABLE DIAPER!

Dear all,

I have received a confirmation from Mr. Shashi of SC with regards to the meeting. The meeting will be at SC office at No 3 Persiaran Bukit Kiara, Bukit Kiara, 50490 Kuala Lumpur on FEB 14, 2017 at 9:30 AM.

Please call him to affirm your transportation. If you needed parking place, he will need to know ahead of time to get the parking permission for you.

Dear all,

I have spoken to the SC with regards to meeting SC between Feb 14 and Feb 16 in the morning pertaining to capital repayment of RM 2.50/shares in exchange for our shares due to BOD mismanagement and a show of disregarding minority shareholders interests. I have told him to refer to this website for our conversation and rMoi's letter if she hasn't emailed it to SC. In addition, the anticipated number of participants will be 5 with another 3 not able to attend (additional 2, FAIRnREASONABLE and roger not certain with position.)

I have told him I was not able to ascertain the particulars of you guys and have asked for permission so you can call him. He has given his permission and his name is Mr. Sashi reachable at 03-6204 8999.

Mr. Shashi will get back to me in a few days on which date, most likely either Feb 14 or Feb 16. Anyhow, should know in a few days and will you guys informed.

valour, actually, from my discussion with SC, they do read our complaining emails. By the way, I have been busy today and didn't have to time to call up SC for appointment. Will attempt to do it tomorrow and reply to you guys.

Kind of disappointing seeing so few, so far 5 including me, willing and able to meet SC between Feb 14 and Feb 16. It would be great if we could get more participants.

10bagger10, I also want a higher BJCorp price given my high hope on it, but there's no way to tell what how much should worth right now, sigh!

without knowing the details of how BJCorp can benefit from the Vietlott success, how would one be able to forecast the profitability of the deal and how much BJCorp should be worth?

so, FAIRnREASONABLE, will you be joining our meeting with SC?
Roger123, will you too? Or, only your friend?

If you are joining, please add on to the list before I try to call SC next Monday or Tuesday.

roger123, you wrote down your friend's not your's... the rest include theirs

Kelvin HK,

My request of 2.50 is based on net asset per share of 3.41 and cash per share of 2.50 reported in the most recent quarter report. This is an amount Puncak can easily offer without having to sell assets.

Frankly, I do not know what SC can do for us, but clearly, Puncak BOD do not have us in mind when making any decision. It seems to me, to them, Puncak minority shareholders are nothing but disposable diapers that have been used. So, I sincerely doubt BOD will act on behalf of us, particularly that the issue has been raised in the AGM before, i.e., share price is at huge discount to cash in hand and net asset and an urgency for share buy back to assuage minority shareholders the huge cash the firm is holding will be spent wisely.

Its my understanding the following, including me, has agreed to meet SC.

1. kahhoeng
2. kelvin HK
3. valour
4. rMoi
5. angiess

In addition, the following has not been able to attend due to outstation

1. cheoky
2. cljy
3. DK66

Is there anybody else interested to join the meeting?
Also, is either day of Feb 14, Feb 15, and Feb 16 sounds OK? Thinking about giving 3 days for SC's option.
The agenda would be to request SC to push Puncak for a capital repayment of 2.50 per share given the BOD's show of mismanagement: (1) quarter report showing investment as if to avoid PN 16 classification (2) plantation deal that's not only expensive compared to a similar recently announced deal by SOP and misinformed details classifying young trees as 'matured'

Anything else? I will add accordingly. Thanks.

cheoky, let us confirm on the appointment date, and you can call before the meeting to the SC on your support to the discussion to be held, sounds OK?

kelvin, valour, would you please put in your free days and your intention to meet SC?

Think post here easier, I can just ask SC to refer this site for confirmation. I don't want to give the impression that I'm making things up so SC will act. Rozali has really gone to the extreme...