Posted by hng33 > 2015-01-14 15:02 | Report Abuse

The delay to seal the deal on 16 Jan definitely is not a good news, but equally not a bad news. It just a delay, more time to fulfill all term precedent as listed in circular.

In fact it will extraordinary too fast already if Puncak can seal the deal just a week from EGM for such a multi-billion deal. Therefore, if further time needed is still consider within acceptable level.

Since have waited Puncak for more a month time already, will continue stay on till the deal is seal

Posted by 8u29song > 2015-01-14 16:26 | Report Abuse

jangan leh, aku tak suka masuk longkang mah.....

Posted by 8u29song > 2015-01-14 16:28 | Report Abuse

sui, support lai liau.....

Posted by hng33 > 2015-01-14 18:43 | Report Abuse

The final completion date now just delay by about 3 week, the new date to seal the deal now is on 9 Feb.

Posted by jacklintan > 2015-01-14 19:24 | Report Abuse

We need to find the cause of all the delaying date and time to seal the deal. Are they still skeptical of "something"?

CIMB have just withdraw the merging with MBSB and RHB.

Posted by jacklintan > 2015-01-14 19:25 | Report Abuse

If Puncak still delay, I'm afraid, it's not going to be good to hold Puncak.

Posted by kahhoeng > 2015-01-14 19:42 | Report Abuse

yesterday's announcement should have been delayed till today, at least market perception would be neutral

Posted by jolie2 > 2015-01-14 20:14 | Report Abuse

probably the delay is due to syabas which has no assets. The pipes are owned by the state and only used by Syabas. Now the new state admin. want to find fault to press down the price.

It is different from Abbas and Splash which there are physical assets and can adequately measure and pass them to PAAB.

The price given to syabas may be divert to increase for splash.

Posted by Tinojuan > 2015-01-14 22:17 | Report Abuse

Jolie 2 if the state differ price of take over Puncak may cease the deal earlier

Posted by kahhoeng > 2015-01-14 22:31 | Report Abuse

Julie, you must be on drug to suggest that, and the Selangor state government would be crazy to even consider that...

Posted by jolie2 > 2015-01-14 22:39 | Report Abuse

now the new selangor admin verified all the past record that kali has done.
Even the "golden handshake" kali gives to his staffs being recalled due to abuse by him.

The water deal with puncak can be cancelled if any new findings discovered that found being abuse by him also.

Nothing is impossible. Hope i'm wrong and hope i'm "high" when write this.

Posted by Superb99 > 2015-01-14 22:41 | Report Abuse

hng33, how you know the meeting has been delayed again?? Any shared link for the news??

Posted by kahhoeng > 2015-01-14 23:04 | Report Abuse

jolie, the golden handshake is a CLEAR abuse of power. There could be some fishy dealings behind the water deal, I don't know. But for the water asset disposal to proceed, there are terms federal, state and private companies have to agree together, that's a totally different game. It would be a political suicide for Azmin to delay just for some small gains

Posted by kahhoeng > 2015-01-14 23:37 | Report Abuse

superb,

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1851961


We refer to the announcements dated 11 November 2014, 16 December 2014, 7 January 2015 and 13 January 2015 in relation to the Proposed Disposals.

On behalf of the Board of Directors of PNHB, Hong Leong Investment Bank Berhad wishes to announce that upon the written request of Pengurusan Air Selangor Sdn Bhd (formerly known as Temasek Tiasa Sdn Bhd) (“Air Selangor”), the Company and Air Selangor had on 14 January 2015 mutually agreed to an extension until 9 February 2015 for the fulfillment of the conditions precedent stated in the conditional sale and purchase agreement dated 11 November 2014.

This announcement is dated 14 January 2015.

Posted by Superb99 > 2015-01-15 00:17 | Report Abuse

i think it would be another drop tomorrow...sigh...

Posted by Superb99 > 2015-01-15 00:17 | Report Abuse

thanks kahhoeng...

Posted by Wiwangwang > 2015-01-15 08:49 | Report Abuse

Lucky That's a big support at 2.76 ..

Posted by jolie2 > 2015-01-15 08:55 | Report Abuse

kali puts rm 10.2 billion price tag valuation on the pipes which is much higher than rm 1.0 billion they were value when Perbadanan Urus Air Selangor (PUAS) was privatised and taken over by Syabas.

Something fishy here that Azmin may use this to blame on Kali.

Posted by hng33 > 2015-01-15 08:56 | Report Abuse

In accord to Puncak circular, the following condition precedent must fulfilled to seal the completion of disposal

1. Approval of Federal gov (assume all asset and liabilities). State gov, SPAN and MOF

(Remark: In the Puncak circular, it noted that it already secure state gov approval on 1 Dec 2014)

2. Shareholder approval in the EGM

3. Bondholder approval

4. RHB bank and Bank Perbangunan Msia approval as both these banks have clauses in their respective loan agreement

5. Sukuk holder approval

6. Execution of agreement between state gov, air selangor for transfer of water asset, lease agreement and leaseback acquired by PAAB to air selangor

7. The balance due by air selangor a sum of total disposal RM 1.56 bil

Posted by jacklintan > 2015-01-15 09:43 | Report Abuse

Thanks hng33. Good

Posted by jacklintan > 2015-01-15 09:59 | Report Abuse

" Looks like CIMB & RHB Investment are shrinking down their portfolios"
Hmmm.......No more cicak in the making.

Posted by jolie2 > 2015-01-15 10:05 | Report Abuse

hey angelintan..... why you under pressure-kah ? report sona in puncak forum ?

Posted by smartly > 2015-01-15 15:11 | Report Abuse

walao! holland. run liao.

Posted by Superb99 > 2015-01-15 16:13 | Report Abuse

another drop for puncak...may go back to 2.5 level if the deal is delayed again and again...

Posted by money888 > 2015-01-15 20:49 | Report Abuse

Hi all..would it possible that new updated budget going to be announced by najib next week. ..cut down the price or not approve by federal government?

Posted by jolie2 > 2015-01-15 21:17 | Report Abuse

money888... you are the smartest person in this puncak forum ... you able to pinpoint to budget updated.

But i hope kahhoeng would not say you "drunk" or "on-drugs" for suggesting on this.

Posted by kahhoeng > 2015-01-15 21:54 | Report Abuse

jolie, well, you had earlier suggested "

probably the delay is due to syabas which has no assets. The pipes are owned by the state and only used by Syabas. Now the new state admin. want to find fault to press down the price.
It is different from Abbas and Splash which there are physical assets and can adequately measure and pass them to PAAB.
The price given to syabas may be divert to increase for splash."

That prompt me to suggest you must be on drug.

I can't, however, rule out money888's concern if its federal government having a budget concern. Though, I would assume price would have plunged already should that's the case. Given that the delay is only until Feb 09 and after considering what hng33 just posted, my best guess is that only some minor issues left to be addressed.

Frankly, I have too much stake in Puncak assuming cash will be there, so, in a way, I am way too drunk on my assumptions.

Posted by money888 > 2015-01-15 21:55 | Report Abuse

Well..I do not hope that fed gov change though. .I wish it go thru..and complete the deal..Most people will be happy with it.

Posted by jolie2 > 2015-01-15 22:03 | Report Abuse

don't worry guys..............
I believe tomorrow it will recover.
We have gone thru the worst scenario during starting of the oil crisis where majority of our portfolio loss about 30%.
This postphonement is only a small scratch compare with it.

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

I think everybody should relax a bit even worst case scenario Puncak still has an ongoing business supplying water to us .

Posted by hng33 > 2015-01-16 09:40 | Report Abuse

kahhoeng

The delay is just 3 week, NOT 3 month. It already reach very final stage and shareholder already approved. Still can expect windfall special dividend before CNY. Current Puncak price will likely trade sideways and stagnant awaiting for major breakout once deal is final seal. Stay on and be patience.

Posted by kahhoeng > 2015-01-16 10:13 | Report Abuse

hng33, notice that too, thanks

Posted by Tinojuan > 2015-01-16 12:13 | Report Abuse

buy more

Posted by kahhoeng > 2015-01-16 15:08 | Report Abuse

Guess the delay has nothing to do with Selangor state

http://www.themalaysianinsider.com/bahasa/article/puncak-niaga-jangan-cuba-lengahkan-jualan-air-kata-mb-selangor

Kerajaan negeri mengingatkan syarikat Puncak Niaga Holdings Berhad (PNHB) agar tidak cuba melengahkan penjualan asetnya kepada Pengurusan Air Selangor Sdn Bhd (Air Selangor) selepas tempoh rundingan pengambilalihan syarikat konsesi itu berakhir pada November 2014. Menteri Besar Selangor Mohamed Azmin Ali berkata, pihaknya mahu mendapatkan penjelasan punca PNHB mahukan masa yang panjang melebihi tempoh yang ditetapkan. "Saya tidak nampak keperluan Puncak Niaga untuk melengahkan bagi memuktamadkan perjanjian ini," katanya pada sidang media di Bangunan Setiausaha Kerajaan (SUK) di Shah Alam hari ini.

Posted by hng33 > 2015-01-16 15:42 | Report Abuse

If every parties work more harder, ensure all condition precedent is fulfill as soon as possible, then the completion date could move forward before 7 Feb, to be seal faster than targeted dateline.

Posted by pathew > 2015-01-16 16:28 | Report Abuse

seems current prices are pretty much at support, I don't foresee much issues to hold this level...

Posted by mbachgoh > 2015-01-16 20:32 | Report Abuse

for info, Am research house only gave Puncak target price at 2.78 @ today Star biz paper. seem like a bit on the lower side if compared to most of the other research houses target price which ranged from 3.40 to 4.01. Any comment about this Am research target price?

Posted by kingofong > 2015-01-16 21:14 | Report Abuse

Wau, so far apart

Posted by SinGor > 2015-01-16 22:48 | Report Abuse

Be very careful what politician say. Always read between the lines. They throw a spanner into
your moving parts and turn around to ask you why are you jammed. Don't trust what they
said especially when the line already drawn. Anwar already accused Puncak is a bailed
out for Umno cronies.

Posted by annchua > 2015-01-17 12:27 | Report Abuse

i dont quite follow the news...help me to understand...is federal government supportive on puncak selling the water asset?

Posted by kahhoeng > 2015-01-17 14:28 | Report Abuse

To me, both state n federal want to address the water asset issue, but both fear being called rescuing/overpaying water companies

Posted by SinGor > 2015-01-18 11:53 | Report Abuse

No dividend by CNY 2015. Technically Selangor can take up 2 weeks(legal doc) to answer
puncak's submission. Then only (if Okay) forward to Fed for approval And Funds transfer
(another week). Another week for Bursa annoucement ( Ex-date). Already CNY eve.
This is just my estimate.
But on 16 Jan 2015 The Sun Daily, Mr Koh(no idea who he is) said if all goes well the transfer
will be completed on 1st quarter of 2015 And Dividend Paid Out in June 2015.
That long!!!! Meh. Please someone counter check for me

Posted by pathew > 2015-01-19 10:07 | Report Abuse

Kumpulan Darul Ehsan Berhad (KDEB) has allowed Puncak Niaga Holdings Bhd's wholly-owned subsidiary, Puncak Niaga (M) Sdn Bhd to extract water from the Bernam River Headworks for another three months. In a filing to Bursa Malaysia, Puncak Niaga said the rights to siphon water from the New Bernam River Headworks, Jalan Sungai Besar, Selangor from Feb 1 until April 30, 2015 was conveyed in a letter. (Bernama)

based on this info above, they have to settle everything including asset transfer by 30th April. So whatever that's holding back should be settled by then. Hopefully, they don't extend beyond that deadline. But worst comes to worst, another 3 months will take it to 31st July.

Posted by SinGor > 2015-01-19 10:21 | Report Abuse

Pathew. Thanks. I am putting my puncak shares in the freezer today

Posted by singkaulan > 2015-01-19 15:08 | Report Abuse

got problem...shit!! better sell now

Posted by denver > 2015-01-19 16:16 | Report Abuse

黄金十年：相信价值莫信谣言
http://nanyang.com.my/node/676129?tid=687

Posted by annchua > 2015-01-19 16:34 | Report Abuse

heavy selling...

Posted by kahhoeng > 2015-01-19 17:55 | Report Abuse

Guess only the announcement of Puncak completing the Selangor water asset disposal will reverse the trend

Posted by annchua > 2015-01-19 17:56 | Report Abuse

is it we do not know something "insider" know?

Posted by Tinojuan > 2015-01-19 18:09 | Report Abuse

aiya cny song started eveywhere end up no cny ang pow how