Posted by AlexanderJin > 2015-02-26 10:55 | Report Abuse

WTF, "He said he would have a meeting with Selangor Menteri Besar Mohamed Azmin Ali if several isues that were raised, especially the issue on the acquisition of water assets could not be resolved by then.".....means possible delay again?

Posted by SinGor > 2015-02-26 11:38 | Report Abuse

I am neutral on what PKR said on 24 Feb. I understand a Government signed contract( Langat2).
Before you reached this stage there many "Upfront money to paid" And Not refundable.
I think Fed is cornered bcos Salcon has deployed equipments and manpower to the site--
Not to mention salcon own contracts to Sub-contractors. If contract is cancelled, then Fed
has to reimburse contractors And what about those Non-Refundable Money

Posted by kahhoeng > 2015-02-26 16:14 | Report Abuse

alas, with so many words from these politicians, how could one have faith in what they said? Only certainty is when Puncak announces a completion of deal. I won't trust any word from these politicians anymore, BN or PR - all leeches.

Posted by SinGor > 2015-02-26 17:04 | Report Abuse

Both Puncak & KPS down 1 cent today. Let see what Mr S has planned for us tommorrow.

Posted by hng33 > 2015-02-26 20:14 | Report Abuse

Puncak deliver a whopping Q4 EPS of 19.76sen, give rise to annual EPS total 60.51sen and NTA surge to above RM 5 at RM 5.02.

This impressive financial result is against its current depress share price of just RM 2.75, trade at merely PE valuation of just 4.5x and discount of 54.8% against its NTA of RM 5.02.

Puncak have also classified its water assets as assets classified held for sale for total RM 3.618 billion, and classified it water assets as discontinue business division already, implying that water assets disposal is done deal and special dividend minimum of RM 1/share is coming soon.

In addition, Puncak also revalue all its exiting remaining properties and landbank, worth now for RM 261.7m or worth about 50sen/fully diluted share, and recognized a surplus gain of RM 33.9m

Posted by kahhoeng > 2015-02-27 08:54 | Report Abuse

sorry, used the wrong potential shares outstanding of 545 million, should be 534.3 million... based on the most recent quarter report, after asset disposal, conversion of warrants and convertible loan, net asset per share shall be 4.61 per share while cash or equivalent shall be 3.67, assuming 534.3 million shares outstanding after all conversion

Posted by Roger123 > 2015-02-27 09:01 | Report Abuse

If puncak is so good. Why dont the price reflects it. There must be some reasons.................market is efficient

Posted by Roger123 > 2015-02-27 09:02 | Report Abuse

open high but keep dumping..... means distribute

Posted by annchua > 2015-02-27 09:06 | Report Abuse

because they do not give regular dividend...not like Maybank..earn...then announce distribute some profit to shareholder as dividend...ini puncak...sendiri earn...sendiri simpan...what shareholder can get??

Posted by Roger123 > 2015-02-27 09:08 | Report Abuse

all taken by rozali.

Posted by Roger123 > 2015-02-27 09:09 | Report Abuse

selling fast

Posted by Roger123 > 2015-02-27 09:09 | Report Abuse

at 2.77

Posted by annchua > 2015-02-27 09:12 | Report Abuse

share price only can move up...if shareholder know they are going to get something back

Posted by kahhoeng > 2015-02-27 09:27 | Report Abuse

roger, Puncak water deal is not yet completed, Achilles' heel? Also, there is no certainty how Puncak would spend its over 1 billion cash after Selangor water asset disposal, another concern?

Posted by titus > 2015-02-27 09:44 | Report Abuse

i'm hanging on to puncak. Whether deal is on or not, i guess price now is worth to invest. Can see that water business do make money. I know part of this Q gain is from revaluation but then water business is still the golden goose. If deal off, will be like rhb and back to 3+. If deal on, handsome dividend windfall. So i guess it is still a win win

Posted by SinGor > 2015-02-27 09:49 | Report Abuse

No stopwork order in Langat 2. PKR announcement on 23 Feb didn't seem to filter down yet.
As far as runners are telling me--some activities in Putrajaya. Najib trying to patch things up-
I think

Posted by kahhoeng > 2015-02-27 09:51 | Report Abuse

titus, if deal is off, good luck to us, doubt Selangor state government is willing to allow water tariff increase or compensate Puncak according to contract. If I were not wrong, Puncak was facing cash flow problem when PR took over and enforce a lower water tariff. Hopefully, with recent development, should deal off, Puncak's suing Selangor will be processed swiftly in court.

Posted by hng33 > 2015-02-27 10:18 | Report Abuse

titus

The latest Q4 result is from Sept-Dec 2014, it is unaudited financial result and did not reflect the revaluation surplus of RM 33.9m. It is however, the revalue surplus of these RM 33.9m or increase another 8sen/share will be incorporate in Puncak upcoming full Audited result for whole 2014.

Posted by kahhoeng > 2015-02-27 10:21 | Report Abuse

hng33, I think the asset revaluation surplus is 50.6 million and is reflected in the comprehensive income already if we are talking on the same thing

Posted by hng33 > 2015-02-27 11:06 | Report Abuse

kahhoeng

Please relook into Puncak latest result and its breakdown of each buiness division until its segment result, each figure and the final profit figure. There is not revalue surplus recognized in these Q4 unaudited result.

In additions, Puncak issue the detail of its revalue surplus, highlight that revaluation surplus of its properties and lanbank is RM 33.87m and these revaluation WILL BE incorporated in the AUDITED financial statement of Puncak for financial year 2014

Posted by hng33 > 2015-02-27 11:07 | Report Abuse

kahhoeng

Based on Puncak latest financial result.

Puncak assets classified held for sale: RM 3.618 billion
Puncak liabilities classified held for sale: RM 2.271 billion
Puncak value of assets less liabilities disposed of will be RM 1.347 billion

Air Selangor pay RM 1.5553 billion for Puncak water assets, therefore, Puncak recognized net gain of RM 208m.


Puncak Balance sheet post water assets disposal will be:

1. Non current assets: RM 535.861 + properties revalue surplus RM 33.9m = RM 569.7m

2. Current assets: RM 703.942m + RM 1.347 bil + RM 208m = RM 2.2589 bil

(Cash hoard: RM 1.553 bil + RM 446.3m = RM 1.999 bil)

3. Total assets: RM 2.827 bil

4. Share capital: 415.9

5. Reserve 1.907 bil (incorporate revalue surplus + net gain from disposal)

6. Total equity: RM 2.3149 bil

5. Non current liabilities: RM 212.7m

6. Current liabilities: RM 299.8m

7. Total liabilities: RM 512.5m

8. Total equity and liabilities: RM 2.827 bil

9. Net assets per share on exiting share capital of 415.9m: RM 5.56

10. Net cash per exiting share capital of 415.9m: RM 4.80/share

11. Enlarge share capital on fully conversion warrant and sukuk = 535m

12. Additional cash proceed from warrant conversion + interest saving for sukuk = RM 57m

13. Total net cash on fully diluted share capital: RM 2.056 bil

14. Net cash on fully diluted share capital: RM 3.84

Posted by kahhoeng > 2015-02-27 11:09 | Report Abuse

hng33, I got an estimate of 3.67 cash, 4.61 net asset after full conversion of convertible bonds and warrants based on 2014 4th quarter report. I derived the above figure simply by taking out the convertible sukuk, asset/liability held for sale while adding back the sale proceed of 1.5553 billion. Hope your figure is right.

Posted by hng33 > 2015-02-27 11:52 | Report Abuse

kahhoeng

Actually, if you noticed clearly, based on Puncak circular, part 1 page 19, Puncak recognized net gain from water assets disposal for RM 414.68m. Air Selangor pay Puncak for RM 1.5553 bil for Puncak 2013 net assets RM 1.1373 bil, give rise to Puncak realize gain of RM 414.689m


1. Proceed from the proposed disposal: RM 1.5553 bil
2. Carry value of assets less liabilities disposed of: RM 1.1373 bil
3. Less, estimated expense incidental to the disposal: 3.3m
4. Net gain: RM 414.689m


The net gain of RM 414.68m is based on Puncak 2013 audited net asset of RM 1.1373 bil, But the net gain now for 2014 become smaller !!?? at only RM 208m due to increase in Puncak net asset in 2014 !!??


The fact that now Puncak carry higher of another increase RM 209.7m net asset to RM 1.347 bil (2014) compared to just RM 1.137 bil net assets in 2013, I think Air Selangor should either compensate Puncak for these shortfall or rebate back all incremental net asset in 2014 to Puncak

Remarks:
(Asset classified for sale RM 3.618 bil - liabilities classified for sale: RM 2.271 bil = Net assets is now RM 1.347 bil (2014) vs. RM 1.137 bil (2013)

Posted by hng33 > 2015-02-27 12:17 | Report Abuse

According to Puncak circular, Air Selangor pay Puncak for RM 1.5553 bil for Puncak 2013 net assets RM 1.1373 bil, give rise to Puncak realize gain of RM 414.689m.

Since the take over yet to complete, and now based on Puncak latest result, Puncak bet assets already increase by another RM 209.7m to RM 1.347 bil. If Air Selangor compensate Puncak for these shortfall or rebate back these 2014 incremental net asset in of RM 209.7m, then Puncak net cash will further soar from RM 1.999bil to RM 2.209 bil, translating into net cash RM 5.31/share or RM 4.13/fully diluted share capital.

Posted by fzank > 2015-02-27 12:23 | Report Abuse

deal sure done .... problem is ..is it happening on 9 March or delay further %3F%3F%3F%3F many people cash locked in this counter .. don%27t know have to wait how much longer %3F hope no more delay if not really %22fry paper bag%22

Posted by hng33 > 2015-02-27 12:24 | Report Abuse

Roger123

I will still keep tight to Puncak (average holding cost at RM 2.67), awaiting for completion deal.

Posted by kahhoeng > 2015-02-27 13:55 | Report Abuse

Hng33, yummy, will keep for a few more days, see how thing goes, has a 2.90 cost, doubt will sell at this price

Posted by AlexanderJin > 2015-02-27 14:35 | Report Abuse

The deal likely to be extended again...Splash deal still not very certain, price still the main issues...like i said,if Splash deal not clear yet,government most likely will delay Syabas deal till picture is much clearer.

Posted by SinGor > 2015-02-27 16:10 | Report Abuse

The Joke amount us in Langat 2 is when Putrajaya told Rozali( 5 years ago) that his company "kena makan", he was furious.
So to be nice to a diehard Umno member, Putrajaya asked him to give a compensation Number. The "Number" is then passed to
Khalid( doesn't know the "number" is for Puncak Only) and now we all know why Splash got 250M only

Posted by hng33 > 2015-02-27 16:39 | Report Abuse

MB: Tiada catuan air, persiapan awal diambil

http://bm.selangorku.com/68862/mb-tiada-catuan-air-persiapan-awal-diambil/


MB: Tingkat pemantauan elak sungai tercemar ganggu bekalan air

http://bm.selangorku.com/68870/mb-tingkat-pemantauan-elak-sungai-tercemar-ganggu-bekalan-air/

Remark: MB is so concern on water supply in state, fear of another round of water rationing. It badly need to rectify and take over water assets, especially syabas, a water distribution unit, pipe leakage need to replace as soon as possible to reduce a loss in non-revenue water, so that can increase supply water to consumer.

Posted by Tornado > 2015-02-27 16:49 | Report Abuse

As long as the deal is not completed, rest of the news are all NATO, talk only no actions........

Posted by SinGor > 2015-02-27 17:05 | Report Abuse

Or Jai Talk

Posted by annchua > 2015-02-27 18:06 | Report Abuse

such a good financial result...but up so less...

Posted by Roger123 > 2015-02-27 23:50 | Report Abuse

Luckily i sold today. Now only 2.80

Posted by annchua > 2015-02-28 13:01 | Report Abuse

recent/current hot and dry weather trigger the concern of dam water level...will this expedite the water asset issue so that they could proceed with Langat 2??

Posted by Roger123 > 2015-02-28 17:47 | Report Abuse

The project will delay again

Posted by Roger123 > 2015-02-28 17:48 | Report Abuse

after that cancelled. Puncak cant get compensate from selangor and cant abstract water from selangor river.

Posted by Roger123 > 2015-02-28 17:48 | Report Abuse

treatment plant doesnt have water to treat

Posted by Andrew King > 2015-03-01 01:13 | Report Abuse

Roger123, I agree that it is part of the risk. However there are also chances that the deal will be done within 1 - 2 months and causing the share price surge to the price target. If you have sold all your shares, kindly move to other counter and stop demotivating other investors here. = =

Posted by joannelim > 2015-03-01 12:02 | Report Abuse

buy

Posted by hng33 > 2015-03-01 12:06 | Report Abuse

Roger 123

Roger123 The project will delay again
28/02/2015 17:47
Roger123 after that cancelled. Puncak cant get compensate from selangor and cant abstract water from selangor river.
28/02/2015 17:48
Roger123 treatment plant doesnt have water to treat
28/02/2015 17:48


Langat 2 delay !!??

Selangor stop Puncak to abstract raw water, all Puncak water treatment plant don't have water to treat !!??


The fact is that, Selangor state now facing critical treated water supply, anyone of water treatment plant shutdown will cause immediate stop water supply and affect many hundred thousand household surrounding. This is real news and publish fact affect 458,350 households due to the closure of the Semenyih water treatment plant (operate by Abass, a 91% control by KPS) as a result of contamination in the Sungai Semenyih on the Feb 15, 2015. Imaging, these Semenyih water treatment plant only supply total less than 5% of total treated water supply, what about if it affect Puncak.......


Puncak (PNSB) control total of 28 water treatment plant, scatter thoughtout KL, Putrajaya and Selangor state, supply total of 46% total treated water supply. Therefore, if state selangor stop Puncak to abstract raw water and supply treated water, almost half of the klang valley household, of about 3.5 million postulation will have tap water dry....

Access to continuous and clean water supply is the basic human rights for the realisation of all other human rights as gazetted by the United Nations back in 2010.....While we are still chanting our aspiration of becoming a high income and developed nation by 2020, and the fact that Selangor already self claim as most develop state. The dire water situation if due to State stop Puncak from abstract water and supply treated water, it will not only made us the laughing stock in state, nation and the whole world, but, more importantly, PKR, PR will lose voter and gov control permanently.

Posted by CaoCao > 2015-03-01 19:41 | Report Abuse

by march 9, we will know the decision... only 5 working days... why not wait.... i advise those who can't stand the risk to just sell it but i must say trading share is always a risk, no risk no gain.

Posted by Wiwangwang > 2015-03-01 21:46 | Report Abuse

Everyone faster Buy puncak 1st it will go up very soon . After price going up then we can switch to kps waiting for second earnings In this final water deal .

Posted by jayawin > 2015-03-01 21:54 | Report Abuse

Guess will extend one more time. No deal will materialise this month.

Posted by Roger123 > 2015-03-02 10:28 | Report Abuse

2.84 all clear. Cheap people again, trapped people to buy

Posted by Roger123 > 2015-03-02 10:29 | Report Abuse

Cheat

Posted by CaoCao > 2015-03-02 15:15 | Report Abuse

http://www.thestar.com.my/Metro/Community/2015/03/02/Underground-losses-Klang-Valleys-water-and-sewerage-infrastructure-is-showing-its-age-While-we-canno/

Posted by hng33 > 2015-03-02 15:33 | Report Abuse

......DBKL Public Works and Drainage Department director Datuk Tan Keng Chok warned that with more and more developments coming up, the city’s ageing infrastructure would start collapsing bit by bit, unless sustainable measures were taken to resolve the problem.

Third-party disturbances

Syabas (Syarikat Bekalan Air Selangor Sdn Bhd) Corporate Communications and Public Affairs general manager Priscilla Alfred agreed with Tan on this.

“About 25% of the total 25,650km of our pipelines needs to be replaced as they were installed more than 50 years ago,” she said.

“Old pipes were made of PVC and asbestos cement which only last between 20 and 30 years. It is inevitable that most of it is giving way today,” said Alfred.

...................


Alfred agreed, revealing a staggering 90,422 burst pipes and leaks reported in 2013 alone.


Billion ringgit headache

“We are very concerned about this. Leaky pipes are the main culprit for NRW, which accounted for 36.6% (5.69 billion litres a day) of water pumped out of treatment plants in 2013,” lamented Alfred.

“We proposed the water piping replacement measures but this involves a lot of money, and we were unable to execute the plan when the much needed Capex (capital expenditure) was suspended.”

According to Alfred, it would cost a whopping RM1mil to replace 1km of pipeline.

“We have about 6,412km of old pipes that need urgent attention. That would cost billions, so it is not possible to do it within one year. The maximum is 100 km per year,” she said.

Alfred said this was subject to the National Water Services Commission (Span) approval as the water regulator would decide on the areas that required urgent attention.

Posted by annchua > 2015-03-02 16:03 | Report Abuse

i guess let putrajaya get the ownership of all these "assets"...they will then need to repair them...:)

Posted by sudahkena > 2015-03-02 16:25 | Report Abuse

When they expected to meeting? Another delay?