Posted by sudahkena > 2015-01-07 16:33 | Report Abuse

Tabung haji selling? Look like big guy selling.. settle at big lots...

Posted by kkc88 > 2015-01-07 16:36 | Report Abuse

at EGM, finance dir said that 300+mil inter co loan/cash return to puncak.
so puncak today has over 2 bil cash plus other assets n ongoing business.

rozali says he is very careful n did not buy into a number of OnG deals this past year. so puncak is a bargain if price drops further!

Posted by The One > 2015-01-07 16:47 | Report Abuse

The price started to drop and drop after the meeting started.. what happened?

Posted by smartly > 2015-01-07 16:55 | Report Abuse

likely profit taking to continue tomorrow. :(

Posted by Superb99 > 2015-01-07 16:56 | Report Abuse

really strange but I think it is undervalue so I bought a bit at 2.8

Posted by sudahkena > 2015-01-07 16:56 | Report Abuse

Puncak is unusual. .. it should going up... someone shopping at 2.80

Posted by smartly > 2015-01-07 16:58 | Report Abuse

buy tomorrow, cheaper.

Posted by kahhoeng > 2015-01-07 16:59 | Report Abuse

kkc88, did the finance dir mention exactly how much cash and cash equivalent ex-debt will Puncak has after asset disposal and special dividend? I have been expecting somewhere around 3.90 which is why I have been holding

Posted by Superb99 > 2015-01-07 17:00 | Report Abuse

this is the hidden risk which retail investors like us can't actually identify...all of us are waiting for the price appreciation but it failed and let big sharks eat our money...

Posted by criticalanalyst > 2015-01-07 17:02 | Report Abuse

They are trying to cause a panic sell so they would be able to collect BIG at low.

Posted by The One > 2015-01-07 17:10 | Report Abuse

Looks like it.. if not today's Trading Buy by Rhb-Osk was so stupid.. top 12 losers.. what a pity call.. lol

Posted by SinGor > 2015-01-07 17:18 | Report Abuse

I would buy if the price is softer. A textbook example on why Razali is releasing so much
cash--he didn't know how to get a higher return for shareholders (2015-2016 will be soft year)
If you have alot monies to spare, keep the dividend (maxi bank interest is 4.5%). If you don't
then you must leave Before Ex-date. Most likely Post Ex-date Price is Minus the dividend
amount and stay there for awhile. Based on last cash estimated by HNG33, post dividend price should be around 2.50 if price goes up to 3.50 before Ex-dividend (just my guess)

Posted by hng33 > 2015-01-07 17:30 | Report Abuse

Well, when Puncak price up due to upcoming special dividend, everyone happy, but when Puncak share down due to profit taking, everyone seem worry. It is free market, everyone have right to decide own entry and exit price level. To me, nothing have change in Puncak fundamental today, compared to yesterday, compared to 1 week ago or 1 month ago.

Puncak share price slump to to its lowest level at 2.39, and gradually rebound after its circular and notice of EGM is dispatch confirming the deal. The progress in the deal is moving until today, shareholder granted approval, share price closed at 2.80 (17% gain). Rozali in the EGM already give date of completion is on 16 Jan, just about a week time to seal the deal. Then, based on allocation for payout RM 534m, can expect MINIMUM special dividend RM 1.00/fully diluted share or up to MAXIMUM special dividend RM 1.29/exiting share, likely to be declare very soon once the deal is concluded on 16 Jan.

Therefore, investor can at least expect another round of recovering in share price, especially if special dividend is at upper range from RM 1.00 (minimum)-1.29 (maximum). If assume all warrant is converted, but sukuk holder is holding back (sukuk holder is protected by reduce in their conversion price and still entitle interest income before expire date in next 4 year), then enlarge share volume will be about 460m, implying special dividend worth at RM 1.16/share.

About the slumping in oil and gas industry and palm oil, It is in fact good opportunity for Puncak if want to expand its oil and gas business or plantation in time of slumping crude oil and palm oil. This is because, with Puncak cash hoard, it afford to shop around the world to bargain hunt tumbling oil and gas business and palm oil estate, which is now offer at much cheaper price. Therefore, Puncak entry level will be much more lower if it opt to buy oil and gas business or palm oil estate, and it also offer Puncak great opportunity to better justifying worth of buying price and ensure viability of new assets.

The more aggressive in tumbling in crude oil, the faster the time it can reach its floor price in which crude oil and shale oil producer have to come out to reach agreement in global crude oil price, then market will be stabilize. Therefore, buying oil and gas assets in time of turbulence, and uncertainty and at brent crude oil at US 50, no doubt at risk, but at the same time, the risk is already greatly reduce if compared to few month ago when brent oil still above US 100. Soon or later, global crude oil will be settle and equilibrium in supply and demand is expected, after all, crude oil/shale oil industry is too big to fail.

Posted by The One > 2015-01-07 17:44 | Report Abuse

Thx hng33 for the comments. I did add more Puncak shares today.. but somehow was quite frustrated with its ended price performance.

Posted by Superb99 > 2015-01-07 18:01 | Report Abuse

Thanks hng33, I am holding tight till now, hopefully everything is ok till declaration of dividend.

Posted by soyabeannice > 2015-01-07 18:06 | Report Abuse

What price did all of you bought puncak?

Posted by hng33 > 2015-01-07 19:01 | Report Abuse

One sometime need differentiate and separate the company 'short term' share price performance with company fundamental. There is no always in direct relationship as share price is trade everyday, influence by not only company fundamental but also more on market sentiment, especially in day to day trading.

Since we all know already Puncak is in the midst to declare special dividend range from RM 1.00 (minimum)-1.29 (maximum) and the fact that even after these cash dividend payout, Puncak still retain cash hoard of RM 1.30 bil or net cash RM 2.50/fully diluted, so share price eventually have to trade and reflect Puncak share price in the longer term that is back by its net cash position.

Posted by hng33 > 2015-01-07 19:07 | Report Abuse

錢進油棕新領域 商業高峰趁低物色種植地

http://www.chinapress.com.my/node/590463

Posted by samsoongyc > 2015-01-07 20:43 | Report Abuse

Sharks attack !!!! Happens all the time....usually have to wait it out...

Posted by annchua > 2015-01-07 21:32 | Report Abuse

hi hng33, can you advise what is this? Arbitration proceeding?
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1845997

Posted by lai63 > 2015-01-07 21:53 | Report Abuse

Again, for WB holders that do not want to convert to mother shares till even after special dividen ex-date, are there any risk ?

Posted by The One > 2015-01-07 22:36 | Report Abuse

• Hmm.. if the net cash position is 3.50 per share.. why the hell the price now is only 2.80? Maybe this drop in price is hinting that Syabas dont have the dough to complete the deal and some parties knew inside info.. possible? All will be trapped? Ouch..

Posted by soyabeannice > 2015-01-08 01:34 | Report Abuse

Oil price rise

Posted by Jian Bin Siew > 2015-01-08 07:20 | Report Abuse

Actually a lot of company in Malaysia is like that, money or asset hinger than its share price. All is depend on confident level. If the company stingy in giving much dividend even earn a lot of money, such as KESM, KSeng, Xingquan and etc, the value is there, but the share price won’t move generally. I think Puncak is a worth buy especially around RM2.50. Since after giving dividend still have another RM2.50, so is quite safe to invest in this current level. Even the deal is not on, still fine as the business is very profit promissing and low PE.

Posted by ACELEE > 2015-01-08 08:31 | Report Abuse

Dear Friends

I think most of us have known contrarian investing but however do we really understand the essence behind it?

First of all,yup,the current downturn in oil price makes the O&G industry player looks doom but again water will finds its level and reach its equilibrium price (which the level is much more higher than current level)(perhaps in 6-one year time) then we will see the spark of investor ignite again and thus pushing up the valuation of the player.Moreover,we should understand that Puncak is not exactly is the O&G player but rather for me I will treat them as a contractor/constructor for the project etc as Puncak is not in the exploration.Thus investing in Puncak is also a contrarian investing against the peers (as we are investing in the co which most of the people have negative outlook of the industry)

Secondly,if not because of the sale of water assets I will not invest in Puncak as I viewed that the valuation of Puncak is relatively high before.However,the recent sales will spare the co with huge cash pile and the recent market turbulence has pressing down the price.With the ok order book of RM 2.5B,the visibility of Puncak is clear.I believe Hng33 has explained the changes in cash hoard very clearly in his previous posting.

KESM and KSENG no doubt is a good balance Sheet co but however their share price will not get some spark due to below par earnings power.For me,both of them is a asset play (RNAV or NET NET PLAY) and it will be a good buy if those fall by 30% from current price.Another reason why I am investing in Puncak is because I opined that ROZALI is not a man who are satisfy with current situation and he will keep on enterprising to fully maximize the potential of the co while KESM biz is static (although they have make an initiative to take part in auto equipment testing biz) while KSENG is basically no spark over its expansion plan.

Thus,in conclusion.I am looking forward to participate in a less risky (strong cash and low liablities post disposal) with ok valuation (our cost can be as below RM 1.60 post dividend if we have buy before RM 2.60) and we could have a chance to participate in the recovery of O&G industry.

Cheers

Posted by LuvLuv > 2015-01-08 08:36 | Report Abuse

I am totally agree with ACELEE.Contrarian (cyclical)+asset back

Posted by hng33 > 2015-01-08 08:47 | Report Abuse

Puncak Niaga eyes foreign jobs, in talks with several parties

http://www.thestar.com.my/Business/Business-News/2015/01/08/Puncak-eyes-foreign-jobs-It-is-in-talks-with-several-parties-to-provide-OG-maintenance-services/?style=biz

Posted by annchua > 2015-01-08 08:58 | Report Abuse

hi hng33,

if not all warrant holder convert, what would be the consequence? the warrant holder don't get the dividend and face a "paper loss"? or they will actually make the dividend as RM1.29/share?

Posted by hng33 > 2015-01-08 09:00 | Report Abuse

annchua
Its MATERIAL LITIGATION, claim and counter claim legal case, will still drag for long time, no impact at the moment.

lai63
Warrant holder is protect by their deed poll, those no opt for conversion to share will get their conversion price adjusted downward

The One
Every time if share price down, many worry scenario will come out, but if share price up, these concern automatic missing........The progress already reach a final process, EGM already concluded, and 16 Jan is target date to seal the deal

Posted by Dreamhouse > 2015-01-08 09:05 | Report Abuse

肯定会出售成功？因为星洲日报说还要履行一些东西才会通过。最后期限是16/1/2015

Posted by hng33 > 2015-01-08 09:16 | Report Abuse

Dreamhouse

16 Jan is target date for completion. But if some condition yet to fulfill, its always can extend time. Afterall, it is state gov that eagerly want to complete the deal as soon as possible

Posted by Dreamhouse > 2015-01-08 09:24 | Report Abuse

hng33

Thank you very much. Ur reply very useful, increase my confidence already and settle my problem. Thank you very much.

Ur target price is?

Posted by kahhoeng > 2015-01-08 09:29 | Report Abuse

at least climb to 3.20, alas

Posted by hng33 > 2015-01-08 09:29 | Report Abuse

Dreamhouse

My fair price for Puncak is around its net cash position.

Posted by Dreamhouse > 2015-01-08 09:38 | Report Abuse

hng

Ok, thank for ur information. Earn together. lol

Posted by hng33 > 2015-01-08 09:46 | Report Abuse

:D)

Posted by Jian Bin Siew > 2015-01-08 10:06 | Report Abuse

Yup, agree, shd be ard RM3.50. Just that the market sentiment is very low and Tabung Haji have to unload its share, else shd be higher.

Posted by SinGor > 2015-01-08 10:21 | Report Abuse

Is yesterday price dropped due to dividend distribution date? Within 3 months (Am Research)
Any idea when is the Ex date?

Posted by fzank > 2015-01-08 10:26 | Report Abuse

lol this is what is known as 'doo-lan' stock ... you expect it to rise the stock drop .... then you get frustrated & sell off .... the bloody stock start to climb like crazy .... lol

Posted by fzank > 2015-01-08 10:31 | Report Abuse

that's why FA is great .... if drop ... got money in hand buy somemore ... if no money switch off the computer & stop monitoring until due date & try spending more quality time with love ones or if you are single ... can try retail therapy or play some guy-girl relationships lol

Posted by fzank > 2015-01-08 10:36 | Report Abuse

lol i just contacted my gf whom i have neglected for the past few days & we will be having some fun later on lol

Posted by fzank > 2015-01-08 10:37 | Report Abuse

.... while waiting for puncak to boooom cak-cak ... booom cak-cak again lol

Posted by annchua > 2015-01-08 11:38 | Report Abuse

big block want to sell at 2.85...who is that? Tabung Haji?

Posted by lai63 > 2015-01-08 14:15 | Report Abuse

hn33 or anybody, I have call the Puncak Niaga registrar (tricor services) today, about puncak-wb not converting to mother shares even after ex-date and
the person (ros) said that the conversion priced still $1 (no change !) and was not reduced ? I did mention about Kulim warrant case and she said different company, different rules. So, pls advise !

Posted by sheep > 2015-01-08 14:48 | Report Abuse

if warrant price reduce by same amount mah zero exercise price. so management must come out to comment

Posted by ACELEE > 2015-01-08 15:05 | Report Abuse

Yes lai63.Kulim special div will affect exe price because it arise as the result of capital reduction and not the same with Puncak.Cheers

Posted by annchua > 2015-01-08 15:08 | Report Abuse

So, means that Puncak will maintain or reduce exercise price?

Posted by ACELEE > 2015-01-08 15:22 | Report Abuse

maintain.

Posted by LuvLuv > 2015-01-08 15:24 | Report Abuse

thanks ACELEE

Posted by sheep > 2015-01-08 15:41 | Report Abuse

If that's the case, say if special dividend given out today, tomorrow mother will be priced 1.80 and warrant price shud be fairly priced 0.80...mah warrant holders (at 1.80)lost alot ..no logic.