Posted by jolie2 > 2015-03-09 15:55 | Report Abuse

agreed that gamuda as a pilot to takeover b'cos
inside this company ... got PKR director , BN director and independent director ...... a perfect match...

Posted by SinGor > 2015-03-09 15:56 | Report Abuse

On day one Anwar said he will kill the deal. Now he is happy. Two weeks ago Azmin
when to see Anwar in jail maybe to reassure Anwar he will finish the job for him. But rest
assured FED will not give up bcos Langat 2 is too big a project to waste (White Elephant).
Now, alot of horse trading will be going on including Anwar's release from jail.

Posted by sudahkena > 2015-03-09 15:58 | Report Abuse

Jolie. . Bg satu lagu larr... jealous maa dgn roger...

Posted by kahhoeng > 2015-03-09 16:05 | Report Abuse

Anwar will never be released earlier unless foreign pressures or extremely heavy local protest lah.

Posted by SinGor > 2015-03-09 16:07 | Report Abuse

I will miss Anwar speeches. Many funny jokes

Posted by jolie2 > 2015-03-09 16:18 | Report Abuse

this song is dedicated to Roger "The Cocky Rooster" .

https://www.youtube.com/watch?v=wUAmfJlgh9s

Posted by hng33 > 2015-03-09 16:21 | Report Abuse

With Azmi allow deal to lapse today, it officially terminate 7 year PR continue effort to consolidate water industry in state. It also wasted former MB effort to capitalize on Fed corporation to help state to jointly take over water concession in exchange for Langat 2 approval. Therefore, with 7 year impasse, all thing back to square.

Despite Fed secure some initiate development order from state to start construction work on Langat 2, but failure in the deal today, State may issue stop order to Langat 2 again, this is in line with current PKR policy, 'Kitalawan' so, all the Langat 2 project contract winner may under threat now.

As for Puncak, business back to usual, able to retain water concession now, without interference from State or Wasia threat anymore.

Posted by kahhoeng > 2015-03-09 16:24 | Report Abuse

Anwar is good at giving speech but lousy with execution, I never like his work then during economic crisis nor when he's education minister.

Posted by fzank > 2015-03-09 16:26 | Report Abuse

:( .... "Chiu Kung Tang wei Bo .... chiu kung tang wei bo .... chiu kung tang wei bo" game over ....

Posted by annchua > 2015-03-09 16:28 | Report Abuse

so...the question is...with puncak business back to usual...what will be puncak normal/usual share price that market are not affected by this deal/no deal?

Posted by hng33 > 2015-03-09 16:32 | Report Abuse

With latest development, Puncak need to report back all its lucrative profit from water concession under discontinue operation back to consolidate operation together with oil and gas + construction, in which water concession operating profit (RM 99.3m) remain as largest and core earning contributor, follow by oil and gas (RM 27.8m) and construction (15.9m)

Posted by Johnnys > 2015-03-09 16:35 | Report Abuse

jolie2 here mean this counter will up soon, same as unisem and MPI. watch and see.

Posted by annchua > 2015-03-09 16:41 | Report Abuse

Johnnys...how come you say so?

Posted by SinGor > 2015-03-09 16:43 | Report Abuse

Don't worry Kahhoeng, in one month time "pucat will be puncak again". Umno cannot walk
away from a 12 billions DEAL ( Langat 2). Datuks already forming lines infront of Najib's
office. New agreement means New deal and New opportunities

Posted by jacklintan > 2015-03-09 16:47 | Report Abuse

I see the sky is clearer than last time. Better with termination. Worse to execute Khalid left behind shits. Dunno how it will impact Puncak in longer term. Have faith, folks.

Posted by kahhoeng > 2015-03-09 16:54 | Report Abuse

Singor, I am not worried about deal being totally canceled. I sold my BJCorp and others to buy Puncak in hope deal will be concluded early January. Now saddled with shares left to government mercy, I can't really decide if to let go now of those additional stocks purchased or to hold on... Guess need to see how the government and Puncak board will respond the next few days to decide action

Posted by annchua > 2015-03-09 17:04 | Report Abuse

hope LTH would not start to sell...

Posted by kahhoeng > 2015-03-09 17:08 | Report Abuse

I believe Rozali, LTH and EPF will find a solution soon, hopefully within 1 month, to address this. They together hold more than 57% of Puncak. Guess best option is a last minute deal, followed by a fed takeover, leaving a fed supported court case with a winning against Selangor state the least favorable outcome. Any other possibility may surface though, its a Boleh Land...

Posted by Superb99 > 2015-03-09 17:08 | Report Abuse

ya, the opportunity cost is high to hold this counter....sigh...

Posted by smartly > 2015-03-09 17:53 | Report Abuse

agreement inked so what. still can be broken. :p

Posted by Roger123 > 2015-03-09 17:53 | Report Abuse

Sorry to hear that, I tried my best to give my advice.... But one on supports me

Posted by Roger123 > 2015-03-09 17:54 | Report Abuse

The deal is cancelled as wat my friend told me. Now the water abstraction

Posted by Roger123 > 2015-03-09 17:55 | Report Abuse

I am worried that puncak cant continue abstract the water from the rivers anymore and also syabas may go bankrupt soon

Posted by Roger123 > 2015-03-09 17:55 | Report Abuse

This is wat told by my frenz.... Luckily i sold all at 2.82

Posted by kahhoeng > 2015-03-09 18:08 | Report Abuse

roger, while your move to sell at 2.82 (thanks to your insider news?) is great, doubt your concern now is of any value. Leaving Selangor people with no water will only anger voters and put politicians at risk. Also, price seems to respond relatively well at 2.70 today. Your exit at 2.82 is not really attractive (at least to me) even looking back now given that (a) we don't have your first hand info (b) 2.82 is rather low already, given that before any water deal with wasia threat, Puncak was also trading around 2.80 - 3.00 too and (c) a delay is kind of anticipated already (just not cancelled though).

Posted by annchua > 2015-03-09 18:22 | Report Abuse

Roger123...now i believe you...:P

Posted by hng33 > 2015-03-09 18:44 | Report Abuse

Projek Mitigasi II pakej 4 kos RM29 juta siap Julai 2015

Oleh : AFEEQA AFEERA

KLANG, 9 MAC : Skim Loji Rawatan Air (LRA) Sungai Selangor Fasa Tiga (SSP3) pakej 4 yang membabitkan kerja membekal dan memasang paip keluli dari Jalan Landasan ke tangki air Bukit Lipat Kajang di daerah Klang dijangka siap sepenuhnya pada 6 Julai 2015.

Exco Infrastruktur, Kemudahan Awam dan Industri Asas Tani, Zaidy Abdul Talib, berkata projek yang merupakan sebahagian daripada Projek Mitigasi Fasa Kedua itu akan mengagihkan kapasiti air terawat sehingga 29 juta liter sehari (JLH) kepada pengguna di daerah Klang.

IMG_5671Katanya projek yang mula dilaksanakan tahun lalu dengan kos pembinaan sebanyak RM29 juta itu kini berada pada tahap 34.7 peratus dari sudut kemajuan fizikal.

“Kita akan melihat status kerja projek mitigasi II berkaitan pakej 4 ekoran pertambahan permintaan air terawat di Selangor dari setiap tahun untuk kegunaan domestik, industri dan komersial.....................http://bm.selangorku.com/69447/projek-mitigasi-ii-pakej-4-kos-rm29-juta-siap-julai-2015/


All effort have been make to ensure increase raw water supply to the dam, so that water treatment must operate in full capacity and ensure uninterrupted treated water supply. The latest news above show that state is in the midst to increase raw water supply for SSP3 water treatment plant in order to increase its treat water to maximum capacity.

Roger, your concern over state gov will stop Puncak to extract raw water for its water treatment plant to treat water and supply water via syabas is no a concern. Puncak control 45% total treated water capacity and have over 30 water treatment plant throughout state area, supplying almost half of the water needed for at least 3 million or half of the state population !!

Bear in mind, before the take over offer is accepted by Puncak, most PKR MP like Raziz or Tony Pua also said that syabas and Puncak worth 0 value, and will bankrupt soon, but what in reality!? Fed gov have to absorb all Puncak liabilities for total more than RM 5.5 billion, and State gov need to pay Puncak total RM 1.555 bil for its equity interest. (deal is cancel due to conflict between state and fed over leaseback agreement and water assets ownership, NOT because of take over price need to pay to Puncak)

Posted by Roger123 > 2015-03-09 18:56 | Report Abuse

Hng33: So wat is ur opinion? We do the judgement is based on the articles and reports. But most important is insider..... More accurate. If they is no big fund push, the price will still remain low no matter how high is the NTA. Puncak is uncertain. No one will touch.

Posted by Roger123 > 2015-03-09 18:59 | Report Abuse

That is the reason why i asked people here to keep away from this stock. I don wan people to get trapped.

Posted by Roger123 > 2015-03-09 19:02 | Report Abuse

Kahhoeng: the news are changing everday, my friend can't even confirm 100% with me. This is wat we called politic

Posted by kahhoeng > 2015-03-09 19:04 | Report Abuse

roger, how much difference between 2.82 and 2.70 for a mid-term/long-term view? Sell @ 2.82 and buy @ 2.70 has only 0.12 difference before transaction fee of 0.025 - 0.03 (to me, should be lower for some.)
Still, I am real upset with Selangor state announcing different view before the true picture is announced

Posted by hng33 > 2015-03-09 19:58 | Report Abuse

Roger123


Which one is more accurate to judge stock real value!?

is it accurate judge stock value based on share price performance, changing every day ?? insider news ?? political talk ?? state will ban Puncak to extract raw water, so that all Puncak water treatment have no water to treat, to force Puncak !!?? or Puncak bankrupt soon, syabas negative cash flow, syabas negative net asset value so that it have O value as what highlight by Azizi and Tony Pua, without take into consideration that, there is legal case pending, to sue state gov over its refusal to grant water traffic hike as per concession agreement....is it Puncak wanna to sell its loss making water business concession or is it state through 7 year effort to try hard to premature want to take over water concession, until only last year, capitalize langat 2 as condition to exchange deal with Fed to jointly take over these concession and state force fed to use Wasia if these water concession unwilling to surrender their concession.

or

is it more accurate judge stock value based on its financial result, and the fact that it is lucrative water concession business commanding gross profit margin more than 50% and deliver EPS 60-80sen pa. or/ and its actual realizable goodwill and asset based on take over price as stated in legal SPA document (although offer lapse due to conflict in buyer, conflict on their own interest affair (state and Fed) ??

Being a value investor, we can't judge stock valuation based on its share price alone, but more importantly is it business model(defensive and high profit margin water concession), and its ability to continue deliver profit and trade at undemanding valuation

I


09

Posted by kahhoeng > 2015-03-09 19:58 | Report Abuse

Roger, I know u r being kind to fellows like us here. With so many politics n so few price advantage, its very hard for us to act as I mentioned earlier.Hope I have not make bad post against you earlier, I never delete my post except modification

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

guys...is it without the deal...the fair value/NTA is RM2.90?

Posted by jayawin > 2015-03-09 20:26 | Report Abuse

Dieliao. Soon drop back to 2.00. So sad

Posted by ACELEE > 2015-03-09 20:37 | Report Abuse

Dear Annchua

Since we are the share owners,how much that we willing to sell "our" biz per share to the next buyer if such a biz generating a EPS of 50-60 cents per annum.By asking this simple question,I believe you have come out with your own number.Would you?

Cheers

Posted by hng33 > 2015-03-09 20:40 | Report Abuse

Puncak Niaga off day low while Selangor Putrajaya water deal off

Monday, 9 March 2015

KUALA LUMPUR: Shares of Puncak Niaga Holdings Bhd was off its intra-day low of RM2.68 on Monday as investors digested news the water agreement between the Selangor state government and Putrajaya had lapsed.

At 3.53pm, Puncak was down nine sen to RM2.71. There were 1.20 million shares done at prices ranging from RM2.68 to RM2.76.

The FBM KLCI was down 13.98 points or 0.77% to 1,792.98. Turnover was 1.66 billion shares valued at RM1.33bil. Decliners beat advancers 573 to 204 while 282 counters were unchanged.

Mentri Besar Azmin Ali was quoted saying the water agreement deal “lapsed today, we (the Selangor state government) are not going to extend it.

“They (Federal Government) breached the agreement and did not honour it,” he told reporters at the Parliament lobby on Monday.

Asked if this meant that there would be no more negotiations to revive the deal, Azmin merely said he is still waiting to get official word from Federal authorities on the new terms of the agreement.

“I want to see what are the new terms they want to discuss with state.

“The ball is in their court,” he said, in reference to the water deal’s master-plan.

Posted by Andrew King > 2015-03-09 20:48 | Report Abuse

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

You expect us to believe in your bold statement like above? @.@
Are you sure you are telling the truth? It has been few times that you mentioned that the deal will DELAY but in actual fact the deal was lapsed without extension.

Posted by Andrew King > 2015-03-09 20:51 | Report Abuse

jayawin Dieliao. Soon drop back to 2.00. So sad
09/03/2015 20:26

And look! there is a clown who issue TP for puncak on and on, from 2.30 to 2.00 in just less than one week there!

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

No eyes to see tml price......fall like hell.......

Posted by Howard Tan Jin How > 2015-03-09 22:05 | Report Abuse

gambler go genting please

Posted by Howard Tan Jin How > 2015-03-09 22:06 | Report Abuse

Faster and easier, big small 1 to 1. This one just few %

Posted by Winwin8888 > 2015-03-09 22:15 | Report Abuse

Ikan bersar sudah lari buy to rm 2.00 an. 1.80

Posted by hng33 > 2015-03-09 22:31 | Report Abuse

Re-post and Update on my previous posting on Puncak potential outcome after 9 Mar. 3 possible scenario as below:

Scenario 1: Deal delay for 3rd time, extent by another 1 month

Impact: Share price remain weak, trade sideline as most of these uncertainty already price in the current depress price. Market generally dislike uncertainty, tend to discount stock fundamental. Prolong and uncertain over definite date for completion deal will likely prompt short term investor to cut, and discourage potential investor to buy.

It is however a testing time for value investor to either see these a opportunity to accumulate current depress share price and remain stronghold on these investment grade stock or view it as value trap, a opportunity time cost to swap to other more potential stock.


b.) Scenario 2: Deal call off, Puncak refuse to grant any further extension to Air Selangor and forfeit its earnest deposit.

(update, instead of extension request is reject by Puncak, now, State reject Fed gov extension request, but the impact remain the same, the deal call off. Strangely, the water restructuring is initiated first by State, but now also terminate unilaterally by state itself)

impact: Knee jerk impact on Puncak share price, price react negatively but downside is limited. Puncak share price however will rebound back later as investor will realize that Puncak business direction is clearer now, it will remain as water concession holder

Puncak retain its lucrative water concession, remain control over 45% capacity of state total treated water supply (PNSB) + 70% control of total water supply distribution (Syabas). It will ensure Puncak continue to deliver steady profit over its entire concession period.

Puncak also can capitalize on both Fed and State gov recognition over its outstanding receivables and liabilities in the take over offer document and legal SPA signed, as both gov willing to absorb all Puncak outstanding receivables and liabilities. Despite deal call off, it offer Puncak strong valid reason to win over current ongoing legal case against state gov for its illegal refusal to grant water traffic hike as per concession agreement, resultant Puncak incur such high outstanding receivables and liabilities. If puncak win the legal case, state need to compensate Puncak and its balance sheet will clear and clean from debt laden to cash rich.

Both State and Fed gov also in future cannot force Puncak to surrender its water concession or use Wasia to forcefully take over water assets operation anymore. The reason for take over failed, is not because Puncak unwillingness to sell and give up it core lucrative water concession, but it is solely due to conflict between state and fed gov over future water assets ownership and leaseback agreement.


c.) Scenario 3: Deal is finally seal, Puncak stand to received RM 1.555 billion from Air Selangor, boosting Puncak cash hoard to more than RM 2 billion. Shareholder stand to reward with special dividend at least RM 1/share.

Impact: Share price will play catch up to reflect upcoming special dividend. Ex-dividend, however, Puncak direction depend on ability of management to acquire earning accretive assets to fill up earning gap left by water concession disposal.

Based on Puncak latest Q4 result, water contribute profit RM 66.5m, whereas, its oil and gas + construction earn RM 29.9m, therefore, without water concession, Puncak EPS will be slump from 20sen/quarter to just 7 sen/quarter. However, Puncak after payout special dividend, still retain cash hoard more than RM 1.5 billion, even without any assets acquisition, just base on interest deposit 4%, Puncak could earn about RM 15m/quarterly interest income, partially fill up the gap earning.

Hence, ex-disposal, ex-dividend and on fully diluted basis, Puncak quarterly earning still can deliver about RM 45m, give rise to 8.5sen, or annualized EPS at 34sen. If peg Puncak to in par with average oil and gas sector/construction sector of PE 8x, Puncak fair value should be at RM 2.70.

When i look at Puncak latest financial result, I feel a bit disappointed for Puncak to classified its lucrative water concession under discontinue operation, record separately these largest earning contributor, and high profit margin water business (gross profit margin >50%) from its other continue operation business, oil/gas and construction business division which command < 20% gross profit margin. It mean, need to worry Puncak after water assets disposal, need badly to fill up these huge earning gap in future. What If Puncak acquire palm oil estate at steep valuation, many experience palm oil player already report very poor financial result!!?? what if Puncak acquire depress oil and gas assets (downstream oil and gas service eventually will be affected if crude oil suffer prolong depress price, discourage oil company to cut capex). With deal lapse, Puncak prospect is clearer now.

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

hng333,
Confirm deal off alreadly? I cant find any PUNCAK bursa annoucement.

Posted by CaoCao > 2015-03-10 00:02 | Report Abuse

http://www.malaysia-chronicle.com/index.php?option=com_k2&view=item&id=473432:ex-mb-khalid-shocked-azmin-axed-his-dubious-water-deal-with-putrajaya&Itemid=2#axzz3Tu9VGyXi

http://www.thestar.com.my/News/Nation/2015/03/09/Jalan-Maarof-sinkhole/

Posted by Roger123 > 2015-03-10 04:37 | Report Abuse

Andrew king: Do u think i am a god, i know everything? I just wan to help. Wat i know i have told here. I wont share any information here anymore. Bye

Posted by Roger123 > 2015-03-10 04:41 | Report Abuse

But i can tell u, something is going to happen to puncak soon. This is the latest information i get tonite.

Posted by Roger123 > 2015-03-10 04:42 | Report Abuse

Let see...

Posted by annchua > 2015-03-10 08:16 | Report Abuse

Roger...good or bad?