Posted by annchua > 2015-01-19 18:22 | Report Abuse

any related to puncak?
http://www.themalaysianinsider.com/malaysia/article/as-economy-sours-putrajaya-to-focus-on-domestic-investments-stop-foreign-bu

Posted by kahhoeng > 2015-01-19 18:28 | Report Abuse

If the water asset disposal is firm, the deal should bode well for Puncak, given that its cash per share will be at least 3.55 per share, not to mention that it has still other businesses that are not sold. Despite its potential PN17 status, why bother? So long that commodity prices are low, it should be even better for Puncak, i.e., the opportunity to grab commodity assets at low price. Unless the water asset disposal is called off, I have difficulty understanding why Puncak price is not even 3.50 yet.

Posted by annchua > 2015-01-19 18:41 | Report Abuse

they sign the S&P on Nov 2014, so the deal is firm...right? now finalizing some minor details only.

Posted by Dreamhouse > 2015-01-19 18:46 | Report Abuse

“Notwithstanding the above, based on the proforma consolidated statement of
financial position of PNHB as at 31 December 2013, the Company does not trigger
PN16 and PN17 following the Proposed Disposals and the Proposed Distribution.”

From proposals already told us does not trigger PN 16 and PN 17?
And PN 16 is more than 70% cash, but Puncak case, is around 66% only.

If i am wrong, please every dailou tell me. Thanks.

Posted by annchua > 2015-01-19 18:58 | Report Abuse

even if it is PN16 or 17...we can get RM3.55/share...lol

Posted by annchua > 2015-01-20 09:14 | Report Abuse

i look back at budget 2015 announced last October...i think there is no related budget to Puncak water disposal...because it is so tiny compared to all other big mega infrastructure project...hence...i am convinced that there will be no impact to Puncak from what Najib will announce today...

Posted by hng33 > 2015-01-20 09:31 | Report Abuse

After water assets disposal, and after take into account full warrant and sukuk conversion, Puncak cash is RM 2.04 bil and Puncak total assets is RM 2.817 bil, give rise to cash/total assets 72.5%, exceeding bursa requirement 70& threshold level and trigger practice note 16, Puncak risk fall in PN16.

However, Puncak intend to distribute part of its cash hoard as special dividend, amounting RM 534.3m or at least RM 1.00/fully diluted share, then Puncak cash hoard will reduce accordingly to RM 1.548 bil and its total assets also reduce to RM 2.324 bil, give rise to cash/total assets 66.6%, therefore, avoiding triggering PN 16.

Posted by hng33 > 2015-01-20 09:50 | Report Abuse

annchua

Revising budget definitely won't affect Puncak. This is because what Fed gov is to buy Puncak exiting water assets in PNSB and syabas, and in return state gov grant leaseback from fed gov for 45 year for operation and maintenance. The new and under construction water related mega project is Langat 2 water treatment plant which is non-related to Puncak at all. Furthermore, it is unlikely also affect Langat 2 as water is life essential item and gov already secure funding from Japan gov for these infra project link Pahang to Selangor. Therefore, the most likely trimming in mega project is highway or even MRT 2 related project, no urgency to build highway in time of cutting budget

Posted by Dreamhouse > 2015-01-20 10:11 | Report Abuse

Hi hng33,

Thank for your reply. I understand already.
And how about PN 17? Will trigger PN 17?

Posted by annchua > 2015-01-20 10:25 | Report Abuse

hng33...thanks for the info!

Posted by hng33 > 2015-01-20 11:23 | Report Abuse

Dreamhouse

About risk PN17, Puncak despite divest its core water business, it still retain sizable oil and gas business and some water related construction contract. Puncak have secure 3 year contract from Petronas carigali, worth RM 2.0 bil and at least RM 500m worth of contract will recognize in 2014, with remaining worth of contract to be complete by 2016. Puncak water related construction work also have outstanding RM 560m worth of contract to be recognized in next 3 year. All in, total orderbook for Puncak still at high above RM 2 bil and ensure earning visibility for next 3 year. Therefore, Puncak will NOT fall in PN17.

In addition, with huge amount of cash in hand RM 2.04 bil (RM 3.80/fuly diluted share) after water assets disposal, even after payout special dividend, cash still standing high at RM 1.548 bil (RM 2.90/fully diluted share), Puncak have plenty of opportunity to buy valuable and yet current depress plantation or oil and gas assets. Depending on these future value assets, Puncak can continue derive 3-4% interest income from its huge cash hoard or at least RM 50m interest income alone or about EPS 10sen/fully diluted share on top of Puncak oil and gas and construction earning.



Remark: If net off Puncak outstanding oil and gas debt RM192m, Puncak net cash is RM 3.45/fully diluted share and after spacial dividend payout, Puncak net cash is RM 2.55/fully diluted share.

However, the above figure is based on Puncak audited 2013 account. Since the completion date is until 7 Fed 2015, the actual figure should based on Puncak audited 2014 account.

Based on unaudited Puncak accumulated 3 quarter result, Puncak record net profit RM 166.7m. Assuming Puncak final quarter result record net profit another RM 60m, then Puncak total net profit record in 2014 will be RM 227m, or additional net cash 42sen/fully diluted share on top of above cash hoard figure

Posted by sudahkena > 2015-01-20 12:05 | Report Abuse

20 days.........

Posted by hng33 > 2015-01-20 13:08 | Report Abuse

To be more exact, the waiting time is just next 12 trading days. Just stay invested and patiently wait for windfall of special dividend to be declared before CNY.

Posted by annchua > 2015-01-20 16:46 | Report Abuse

wind change....

Posted by pathew > 2015-01-20 17:02 | Report Abuse

closing eat up from 2.71 to 2.75...

Posted by Dreamhouse > 2015-01-20 18:24 | Report Abuse

hng33, thank you again, waste your time already. Thank you very much u give me so detail information and your personal opinion.

Posted by annchua > 2015-01-21 09:05 | Report Abuse

good start...

Posted by hng33 > 2015-01-21 09:08 | Report Abuse

Dreamhouse

You welcome :D)

Posted by Superb99 > 2015-01-21 10:22 | Report Abuse

not much momentum for puncak....hovering below 2.8...

Posted by kahhoeng > 2015-01-21 10:42 | Report Abuse

hng33, good to read your analysis...

Posted by annchua > 2015-01-21 12:02 | Report Abuse

now is the fight between selling and buying...

Posted by kahhoeng > 2015-01-21 12:28 | Report Abuse

so many sellers @ 2.75

Posted by sudahkena > 2015-01-21 12:32 | Report Abuse

Early show only today

Posted by hng33 > 2015-01-21 15:47 | Report Abuse

Puncak volume is very high today, but share price remain little change, is a sign of accumulation phase.

Posted by zckoo > 2015-01-21 23:22 | Report Abuse

Go go go.....

Posted by annchua > 2015-01-22 10:54 | Report Abuse

still a lot of sellers....go away please...lol

Posted by sudahkena > 2015-01-22 14:12 | Report Abuse

Seriously. .I worry if pkr demand fed to increase price 4 splash... if not.. they dont want to sign???

Posted by annchua > 2015-01-22 15:39 | Report Abuse

sudah mari...

Posted by hng33 > 2015-01-22 15:56 | Report Abuse

:D)

Posted by sudahkena > 2015-01-22 16:14 | Report Abuse

Who dam 500k unit at 2.83.....wow...

Posted by annchua > 2015-01-22 16:15 | Report Abuse

hi all, i saw a few 5000 lot "cross trade"...what does that means?

Posted by Don New > 2015-01-22 16:19 | Report Abuse

Yes, 4x5000k lot... Cross trade???

Posted by SinGor > 2015-01-22 17:04 | Report Abuse

I have mention before syndicate might move into Puncak because RM1 dividend is a big
inducement to ikan bilis like us. The signal is flashing they are already here

Posted by sudahkena > 2015-01-22 17:18 | Report Abuse

Normal case.. might be a trap coz big boy sell... but in puncak.. maybe bigboy sell 4 kroni...

Posted by money888 > 2015-01-22 18:55 | Report Abuse

This two days..UOAREIT up 11 sen with announcement of 5sen plus dividend. .cmmt up 8 sen with announcement of 4 sen plus dividend. .
what do you think would happen to puncak once they announce RM1 dividend?
Huat arrrrr

Posted by sudahkena > 2015-01-22 18:57 | Report Abuse

If div 1.20... mau rm5

Posted by kahhoeng > 2015-01-22 20:42 | Report Abuse

I m happy with 3.80 - 4.20, but could use a 3.40 now

Posted by Superb99 > 2015-01-23 10:45 | Report Abuse

please wake up....drops some more

Posted by sudahkena > 2015-01-23 10:52 | Report Abuse

Bigboy still sleep????

Posted by SinGor > 2015-01-23 12:28 | Report Abuse

I am keeping my Puncak share in the freezer. If syndicate is around then when everybody throw
in their towel --give up, suddenly price will shoot up to 3.00

Posted by samsoongyc > 2015-01-23 13:06 | Report Abuse

Likewise I holding until div is declared......curious to see outcome ???

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

Make small profits is okay to me. Don't want to be on someone menu. Just escape from
Cimb's fishman net. The biggest syndicate in town--EPF push up Cimb's price after the
merger failed and every punters rush in. Now all of them are walking around like zombie

Posted by kahhoeng > 2015-01-23 15:42 | Report Abuse

why sell when feb 09 is so close, unless you have no faith in Puncak getting the deal done before then?

Posted by kahhoeng > 2015-01-23 21:31 | Report Abuse

2 weeks?

Posted by samsoongyc > 2015-01-24 08:59 | Report Abuse

Strange person this SinGor U turn on his point of view instantly

Posted by SinGor > 2015-01-24 20:48 | Report Abuse

Sorry that I caused some confusion. Actually I don't intent to write what I know but it just
slip my mind. A lawyer cum politician has told me Puncak will miss the first deadline and
it is true. I buy Puncak share strictly for fun of it.( to see how far it can go). No interest
in the dividend

Posted by samsoongyc > 2015-01-24 21:34 | Report Abuse

Ok understood.....I follow u n hng33 in kps too . U guys provide solid info . Tks

Posted by money888 > 2015-01-25 15:11 | Report Abuse

So...singor...can they make it for second dateline.?

Posted by Superb99 > 2015-01-26 11:08 | Report Abuse

another drop...I think some of them shifting to faster counters

Posted by sudahkena > 2015-01-26 11:36 | Report Abuse

I just worried... ths money will go to umno...wht happen if pkr - air selangor play game.. not agree with term n condition..... if fed not increase 4 splash????