Buy babies buy! You won't get a better chance before price shoot past RM6 and beyond!

Looks like Khalid did the same to both Puncak and Gamuda - ommission/change of key terms offered earlier. In the case of Gamuda, the earlier terms were accepted but now changed.

Khalid has the tendency to do this even in politics (offer of exco positions to DAP). The only reason for his back-peddling I can think of at this stage, is to drive a hard bargain for the price - the RM4.04B. This move is logical for Puncak. But why do this to Gamuda?

I think both Rozali and Khalid want a cut of the RM4.04B. The Fed Govt's deadline is 31/12/13. So they have to come to a win-win solution before then.

It's RM5.595B. Oops again. Typo error!

Oops, RM(1.555+4.04)B = RM1.595B

Net offer to Puncak (RM1.555B) plus liabilities to be taken over by Fed Govt (RM4.04B) = RM5.594B - the amount Puncak said was the earlier offer as informed by the Selangor Govt. The solution may be for the Fed Govt to pay Puncak directly the amount owing by Syabas to PNSB. I think Khalid will agree to it since his offer of RM1.555B is for net equity i.e. after deducting liabilities. Selangor Govt won't pay a sen more since Fed Govt is assuming liabilities.

But a facinating thought: Both Rozali and Khalid would have known this. Did Khalid miscommunicated in his latest offer letter and deliberately failed to mention the offer by the Fed Govt? Or did Rozali kick up a fuss so as to bring down Puncak's share price for more accummulation opportunities?!

Net offer is after deducting liabilities. Therefore, Puncak's demand to be paid the receivables owing to PNSB by Syabas without assuming the liabilities is outrageous. The reason given - that it is for sevice already rendered do not make sense. All 'residual' cash in PNSB after paying the receivables is also to be paid to Puncak. Also Puncak do not want due diligence; therefore may have some hidden problems/liabilities in PNSB and/or Syabas. No one will want to take over a company without due diligence. With the Conditions attached, the 'acceptance' amounted to a rejection in principle.

Fed govt had said it will take over PNSB's liabilities of RM4.04 billion. So Rozali is gunning for the full amount of the increase in net asset (resulting from the decrease in liabilities) of both PNSB and Syabas.

My own conclusion: Rozali knows that Khalid is under pressure, from his own deadline, politically and from the Fed Govt's deadline of 31/12/13. The Fed Govt is also under pressure due to the much delayed Langat2 project. So he can afford to play a gambit for a better price for himself and his principals.

His gambit is for a substantial payout of cash from the increase in net assets of RM4.04 billion. The demand for residual cash and no due diligence are only red herrings for bargaining chips! Besides he can still go for arbitration for DCF of 15%. But this is just birds in the bush.

So hang on tight fellow investors/punters for the grand finale before 31/12/13!

Don't think Khalid will accept: i) no due diligence; ii) Payment of receivables owed to PNSB to Puncak and iii) no concurrent acquisition by KDEB and PAAB. i) & ii) are the most problematical. Looks like the Fed Govt will need to step in and forcibly resolve by 31/12/2013. Either way those who held on will win.

Looks like the big boys are accummulating at RM1.95!

The old story gives the back-ground. Asset rich PRKCorp's port business will therefore not benefit much by Vale's activities unless it is taken over by a party with clout over Vale. I suspect the Chinese will be interested to squeeze Vale for profit since they are Vale's only market for the pellets it produce in Perak. Therefore, I suspect the recent rumour is about the divestment of PRKCorp's port assets.

It's above RM3 now. Any news anyone?

Scable tends to be a laggard. It's fundamentals are looking up.

Sorry, I entered the wrong forum. I meant to comment on Scable.

AMMB target price after BI etc, is RM2.33. Scable tends to be a laggard.

OK, I got it. Entitlement time is only at 5pm today.

I have still not yet been credited with the bonus 1:5 issue even though today is the entitlement date. Anybody know the reason? Thanks.

Yeah heading north towards RM2.5. BTW, did they sign the RM1B Sarawak back-bone transmission contract, anyone?

Sorry bighitter no offence meant.

HC Lee I was referring to bighitter; maybe I got mess up with his grammar:...'even DOW is messing up...'.

Who say Dow is messing up? It's up 128.48 points over-night. For the Chinese it's also an auspicious number.

Dear kcchongnz,

Oops! I misread your comment. You were referring to KPS shareholders for the special dividends and KHSB for the arbitrage.

Dear kcchongnz,

I am a new share trader and did not make much money from KHSB, in fact nearly loss. I have a question: Why would KPS reward KHSB's shareholders with a special dividend. Afterall, KPS just sold off KHSB. I would have thought that KPS would reward it's own shareholders with the special dividend? Thanks.

What's the likely final but-price anyone?

KHSB link is via KPS minority shhdrs. These may also want out for same reasons. Also KDEB may also have other principals besides Selangor govt.

Principals behind Puncak need to liquidate. Need money for GE and some for safe havens. If PR wins GE13 then susah for them. They can't take the risk. KHSB also same. Selangor govt want the land for affordable housing.

Puncak will agree. They need the liquidity.