Posted by kahhoeng > 2015-03-09 08:31 | Report Abuse

http://tefd.theedgemarkets.com/2015/FDsetia/FDsetia_20150309iakoi5.pdf

fainted, saw edge reported today that Selangor state government is possibly going to refuse an extension to allow a change in the master agreement

Posted by Roger123 > 2015-03-09 09:07 | Report Abuse

100% delay as wat i know

Posted by Roger123 > 2015-03-09 09:09 | Report Abuse

just my advice. I am here not to quarrel with people. I am here to give my opinion and share the info that wat i know. Just help some speculators not to get trapped. It is still not the time to buy yet

Posted by Roger123 > 2015-03-09 09:23 | Report Abuse

If the deal doesn't get through, syabas needs another loan from government. Shortage of cashflow. The legal case is still on but when is the conclusion? No one knows. The license for water abstraction will it renew again? Another issue. Internal fight until no end.........

Posted by jolie2 > 2015-03-09 09:25 | Report Abuse

wah.... roger hero-lah... blasting with his water gun

Posted by Roger123 > 2015-03-09 09:26 | Report Abuse

Jolie: don't tease me. Just share wat i know. I think i better keep quiet from now onward

Posted by Roger123 > 2015-03-09 09:26 | Report Abuse

everyone doesn't like me

Posted by Roger123 > 2015-03-09 09:26 | Report Abuse

but i am telling the truth

Posted by sudahkena > 2015-03-09 09:27 | Report Abuse

Azmin give che met to fed...

Posted by Roger123 > 2015-03-09 09:27 | Report Abuse

puncak is lelong now

Posted by Roger123 > 2015-03-09 09:28 | Report Abuse

will break 2.70 for sure

Posted by jolie2 > 2015-03-09 09:28 | Report Abuse

roger aka rambo

Posted by kahhoeng > 2015-03-09 09:32 | Report Abuse

my guess, should Selangor state walk out, fed will speed up court case to show muscle to allow puncak collecting compensation from state

Posted by Roger123 > 2015-03-09 09:36 | Report Abuse

kahhoeng: not so easy. My friend is involved, he also cannot tell me what is going on. Just said very complicated.

Posted by sudahkena > 2015-03-09 09:38 | Report Abuse

Fr my opinion. . Valuation fr hng33 is 200% right... even 99% same with my valuation...we should thank to hng33...

all ppl put money here I think already made their own analysis

but we should aware.. ths deal involve 2 gov... selangor n fed.. 2 party.. umno n pkr.. we shld carefull


let hope deal complete today....

Posted by kahhoeng > 2015-03-09 09:44 | Report Abuse

roger, n both state n fed expect puncak to sit still while they fight?

Posted by Roger123 > 2015-03-09 10:03 | Report Abuse

I am fully agreed with hng33 research. But the problem is, sometimes anual report doesn't reflect the real situation of the company. In real, Syabas will go bankrupt if the legal case continue without ending

Posted by Roger123 > 2015-03-09 10:05 | Report Abuse

Hopefully will get the latest info from my friend that the deal is still carried on. Otherwise..... bad for syabas

Posted by sudahkena > 2015-03-09 10:08 | Report Abuse

Fed must made decision today.. let go all asset or other option...

let see price today coz in efficiency capital market.usually insider already know...

Guess ... rozali can take breakfast today??

pray 4 puncak...I still hope it can complete today

Posted by Roger123 > 2015-03-09 10:11 | Report Abuse

I will update the latest info once i know

Posted by kahhoeng > 2015-03-09 10:20 | Report Abuse

roger, thanks

Posted by jolie2 > 2015-03-09 10:44 | Report Abuse

the i3investor Hero of The Year Award goes to...........
"Roger aka Rambo "

Posted by CaoCao > 2015-03-09 10:48 | Report Abuse

Court case now proceed quicker than past times one. Puncak debt are majority in the hand of fed gov. If puncak can maintain around 60 cent eps each year, i can't see much severity of consequences from the aborted m&a.

Posted by SinGor > 2015-03-09 11:01 | Report Abuse

"Roger aka Rambo" Second vote. CaoCao--cash flow kills a company not balance sheet.
Even Puncak win, Selangor Gov could ignore any payments (already running deficits).
What Rozali can do --Bankrupt Selangor.? Not a good idea because you get "Rakyat
Selangor Derhaka"

Posted by CaoCao > 2015-03-09 11:16 | Report Abuse

Well for me i don't think puncak will have a cash flow problem. Remember why puncak can granted with such huge debt? I have seen one Detroit, USA being bankrupt so why not Selangor? if puncak win the court case, it'll be a catalyst for puncak for sure.

Posted by kahhoeng > 2015-03-09 11:33 | Report Abuse

singor, alas, there is a will there is a way. Anything is possible in this Boleh Land. best is still both fed and state compromise while Puncak gets paid, and state, fed, and we all shareholders happy together...

Posted by SinGor > 2015-03-09 11:59 | Report Abuse

I heard last week Selangor wants to revamp the master plan. So i told my Bumi partner not
to bid for work on those Langat 2 contract ( small works) unless "Datuk" pays us 30%
upfront. I don't trust Fed Or States when money is concerned

Posted by hng33 > 2015-03-09 12:47 | Report Abuse

I think if State and Fed still unable to resolve their leaseback agreement and water asset ownership, instead of grant delay again, Puncak should exercise its right to reject any further delay extension, terminate the deal, forfeit Air Selangor earnest deposit.

Puncak should back as water concession holder, retain these lucrative concession ensure steady earning and cutoff uncertainly future business direction as venture into either palm oil or expand oil and gas industry may suffer low margin prospect.

About potential cash flow problem if Puncak water assets deal lapse, I think being control 45% total treated water concession and control over 70% water distribution throughout State, Putrajaya and KL, Fed gov being a largest bondholder for Puncak, it will sure grant Puncak to refinance its bond tenure while pending to final outcome from court case against state gov. Bear in mind, in current exiting take over offer, both state and fed gov already recognized Puncak outstanding debt and receivable due to failure of State gov to grant puncak water hike as per concession agreement. According to SPA, Fed gov through PAAB to absorb all Puncak debt and Air Selangor to pay Puncak RM 1.555 billion equity interest. Therefore, even if deal lapse due to conflict between state and fed, it still consider a legal document and strong valid proof for Puncak to submit to court for management.

If Puncak win, state gov will need to compensate Puncak either via debt assume, transfer Puncak liabilities to State gov or state need to issue bond and raise capital to repay Puncak.

Posted by Howard Tan Jin How > 2015-03-09 12:59 | Report Abuse

Sure got something happend today. Let's pray for better second half

Posted by annchua > 2015-03-09 13:15 | Report Abuse

if it is a delay again...it is a big disappointment...not only because from the perspective they cannot make the deal complete...but...it also tie to "accountability" issue...it seems like "due date" wasn't something taken seriously...there isn't much commitment to make things happen within due date...simply because they think the "due date" can be delayed and delayed again?

Posted by jolie2 > 2015-03-09 13:39 | Report Abuse

after roger win the grand award, he is so "cocky" now.
Give the Cocky Rooster an applause.

Watch Roger appear in this you-tube.

https://www.youtube.com/watch?v=n0VllHvybV8

Posted by SinGor > 2015-03-09 14:38 | Report Abuse

Affin Hwang gave puncak fair value 2.90. Hng33 gave FV 2.70. My estimate EPF cost 2.70
So Puncak will be smack in between 2.80. So long friends. As sudah kena said" hard to
make money nowadays"

Posted by gskow > 2015-03-09 14:45 | Report Abuse

http://www.theedgemarkets.com/my/article/selangor-mb-confirms-master-water-agreement-lapses-today-no-further-extension-given-0

Posted by hng33 > 2015-03-09 14:53 | Report Abuse

Selangor MB confirms master water agreement lapses today as no further extension given

http://www.theedgemarkets.com/my/article/selangor-mb-confirms-master-water-agreement-lapses-today-no-further-extension-given-0

Posted by hng33 > 2015-03-09 14:56 | Report Abuse

Ok, since the MB confirm deal lapse, it imply the Puncak can retain its lucrative water concession. No more force take over or use Wasia to take over concession holder as the lapse is solely due to conflict between two buyer, the State and Fed gov instead of seller, Puncak.

Posted by hng33 > 2015-03-09 14:59 | Report Abuse

Knee Jerk impact on Puncak share price....But, how low can Puncak share can go if Puncak able to retain as water concession holder now !?

Posted by fzank > 2015-03-09 15:03 | Report Abuse

too much !!!! stuck on you .... how much longer ????

Posted by hng33 > 2015-03-09 15:10 | Report Abuse

Selangor MB confirms master water agreement lapses today as no further extension given

Selangor Menteri Besar Mohamed Azmin Ali has confirmed that the master agreeement to restructure the state's water supply industry will lapse today as no further extension will be given.

Mohamed Azmin said the Selangor state government had decided not to extend the agreement until March 31 this year following a request by the federal government. Mohamed Azmin said this was because the federal government had no intention of honouring the master agreement that was signed last year by his predecessor Tan Sri Abdul Khalid Ibrahim.

"On our part, we decided to cancel and not to extend the agreement," Mohamed Azmin told reporters at the parliament lobby today.

This confirms a report today by The Edge Financial Daily (Edge FD). Quoting sources, Edge FD reported that the Selangor state government was unlikely to grant the third extension for the master water agreement.

The master agreement was signed on Sept 12, 2014 to restructure Selangor's water supply.

Under the agreement, new entity Air Selangor Sdn Bhd will take over the operations and maintenance of the state's water-treatment plants and water-supply services which are currently managed by four concessionaires.

The concessionaires are Syarikat Pengeluar Air Sungai Selangor Sdn Bhd, Puncak Niaga (M) Sdn Bhd, Syarikat Bekalan Air Selangor Sdn Bhd and Konsortium Abass Sdn Bhd.

The master agreement was initially intended to be finalised on Jan 12 this year (2015). The matter was postponed to Feb 9 and again to March 9 following the transfer of water assets between the state and federal governments.

On the controversial Kinrara-Damansara Expressway (Kidex), Mohamed Azmin said the state government had not changed its decision on the development of the project.

Mohamed Azmin had on Feb 16 this year announced the Selangor government had scrapped the the RM2.42 billion Kidex for failing to fulfill several conditions before a Feb 14 deadline.

Today, he said the federal government had asked for a meeting with the state government to discuss the state's public works project following the decision to cancel the 14.9km highway project, which would link Puchong and Damansara.

Mohamed Azmin said the meeting between the two parties would likely be held next week.

Posted by fzank > 2015-03-09 15:10 | Report Abuse

like watching "Friday the 13th Movie" with no ending ....

Posted by kahhoeng > 2015-03-09 15:10 | Report Abuse

Don't think state will be kind towards puncak, best scenario now for puncak is either fed, compromises, fed take-over or fed-assisted winning in court demanding payment from state

Posted by hng33 > 2015-03-09 15:12 | Report Abuse

Now, that MB have say no more extension, and confirm the agreement will lapse by today, UNLESS, Fed gov in last min, compromise and willing to corporate with State to sign these master agreement before 5 pm today

Posted by fzank > 2015-03-09 15:14 | Report Abuse

slim chance

Posted by kahhoeng > 2015-03-09 15:18 | Report Abuse

One thing for sure, if puncak price shoots up by the end of the day, a deal is closed, otherwise we will stay at this price for sometimes until sky is clear

Posted by hng33 > 2015-03-09 15:20 | Report Abuse

Actually, if deal is lapse, it is clearer now for shareholder instead of uncertainty over definite date for completion.

Posted by jolie2 > 2015-03-09 15:20 | Report Abuse

Where is Roger "The Cocky Rooster ???????????????????
Pls come out and show your cockiness (your kind advide)

Posted by hng33 > 2015-03-09 15:21 | Report Abuse

Lets hope the knee jerk impact on Puncak share price can be come and go as fast as possible, let all back to stock fundamental.

Posted by kahhoeng > 2015-03-09 15:31 | Report Abuse

Hng33, with state n federal fighting about water issue, deal or no deal, its impossible to price by fundamental lah

Posted by hng33 > 2015-03-09 15:32 | Report Abuse

MB: Perjanjian air tamat, tidak dilanjutkan

Oleh: AFIX REDZUAN

KUALA LUMPUR, 9 MAC: Perjanjian induk penstrukturan air Selangor antara Kerajaan Negeri dan Kerajaan Pusat yang berakhir hari ini tidak akan dilanjutkan selepas penangguhan kali kedua.

Dato’ Menteri Besar, Mohamed Azmin berkata, Kerajaan Pusat ‘melanggar terma’ perjanjian ditandatangani September 2014 menyebabkan Kerajaan Negeri tidak mempunyai pilihan.

Azmin Air“Apabila saya menjadi Menteri Besar pada September tahun lalu, saya bersedia untuk meneruskan perjanjian, tetapi Kerajaan Persekutuan gagal memenuhinya bahkan meminta lanjutan tempoh.

“Apa pilihan yang kita ada? Saya mahu melihat syarat baru yang mereka ingin bincangkan dengan Kerajaan Negeri,” kata Mohamed Azmin di Lobi Parlimen.

Katanya, perkara sama turut berlaku pada Projek Lebuhraya Kinrara-Damansara (Kidex) yang dibatalkan.

“Begitu juga dengan projek Kidex, selepas kita batalkan, baru Menteri Pengangkutan datang untuk berbincang berkenaan pelan pengangkutan awam,” katanya.

Kerajaan Selangor sebelum ini memberikan lanjutan tempoh sebanyak dua kali bermula Januari lalu.

Pada 12 September 2014, Kerajaan Persekutuan dan Kerajaan Selangor memeterai Perjanjian Utama bagi memuktamadkan penstrukturan semula industri perkhidmatan bekalan air.

Dengan termeterainya perjanjian utama itu, Air Selangor Sdn Bhd (ASSB), sebuah entiti baharu akan mengambil alih operasi dan penyelenggaraan loji rawatan serta perkhidmatan pembekalan air yang sebelum ini dilakukan empat syarikat konsesi.

Posted by sudahkena > 2015-03-09 15:48 | Report Abuse

Let gamuda be a pilot..... takeover all..

Posted by jolie2 > 2015-03-09 15:49 | Report Abuse

sudahkena........ why you so smart one ?