Posted by kahhoeng > 2015-03-23 16:22 | Report Abuse

so quiet today, all crossing hands waiting for negotiation outcome. Investors money in the hand of politicians, sigh!

Posted by whitesheep > 2015-03-23 17:46 | Report Abuse

no drop mean no bad news

Posted by kahhoeng > 2015-03-23 18:00 | Report Abuse

http://www.themalaymailonline.com/malaysia/article/selangor-putrajaya-water-talks-back-on-mb-confirms

Something to move the share price soon? Have lost my faith in Azmin though, sigh!

SHAH ALAM, March 23 — Putrajaya and Selangor resumed discussions today on its recently suspended water deal, state Menteri Besar Azmin Ali confirmed, after the federal administration agreed to revert to the original agreement inked between the two governments.

According to Azmin, the first meeting since Putrajaya was accused of breaching the deal by demanding state land, was held between state officials led by State Secretary Datuk Mohammed Khusrin Munawi and officers from the Energy, Green Technology and Water Ministry led by Secretary-general Datuk Loo Took Gee.

“They informed me immediately after the meeting that it was a good start and I think I will follow up with another meeting with the minister and hopefully we would be able to conclude all the CPs (Condition precedent) under the master agreement as soon as possible.

“The federal government has agreed to finalise the master agreement based on the original terms that were signed,” he told reporters after officiating the 2015 World Water Day and the 15th anniversary for the Selangor Water Management Authority (LUAS).

He said he received a letter from the minister stating that Putrajaya is willing to “return to the spirit of the master agreement”.

Two weeks ago, Azmin claimed Putrajaya breached the original terms of the water agreement with Selangor last September when it demanded free land from the state government.

The deputy PKR president told Parliament that the federal government had asked Selangor to hand over the land on which 26,000 km of pipes belonging to state water concessionaires are laid across.

Prior to signing the master agreement, Azmin said representatives from both Selangor and the federal government had gone through the assets list consisting of pipes, water treatment plants, reservoirs and pump stations with a total value of RM14.9 billion.

There was no mention of land in the assets list, he added. The first-term menteri besar had also previously demanded that Putrajaya publicly disclose the details of the water agreement as part of his pledge for accountability to Selangor voters. He had said that a full disclosure of the agreement signed by his predecessor and Putrajaya was necessary to justify the possible impact of the deal on consumers.

Posted by hng33 > 2015-03-23 19:00 | Report Abuse

MB: Rundingan semula air Selangor berjalan lancar

SHAH ALAM, 23 MAC: Mesyuarat rundingan semula air Selangor yang pertama hari ini berlangsung dengan lancar, seraya membuka laluan kepada penyelesaian isu-isu berbangkit.

Dato’ Menteri Besar Mohamed Azmin Ali yang dimaklumkan perkembangan itu berharap syarat-syarat terdahulu (condition precedent) dibawah perjanjian induk penstrukturan air akan dapat dimuktamadkan dalam rundingan susulan bersama Menteri Datuk Seri Dr. Maximums Johnity Ongkili nanti.

IMG_7559

“Kita berhadap dapat selesaikan isu-isu berbangkit dalam masa terdekat,” kata Mohamed Azmin ketika ditemui media seusai Sambutan Hari Air Sedunia 2015 di Plaza Alam Central Shah Alam, hari ini.

Dengan pertemuan ini juga, Mohamed Azmin menjelaskan isu rampasan tanah oleh pihak Putrajaya tidak lagi berbangkit.

“Tidak lagi berbangkit kerana mereka (Putrajaya) telah meneliti semua terma asal. Sekiranya mereka nak kembali kepada terma asal perjanjian maka perkara ini (bantahan Kerajaan Negeri) tidak timbul,” kata beliau.

Pasukan rundingan Kerajaan Negeri di mesyuarat itu diwakili Setiausaha Kerajaan Negeri Dato Khusrin Munawi.

Posted by money888 > 2015-03-23 20:28 | Report Abuse

Good news

Posted by hng33 > 2015-03-24 08:57 | Report Abuse

MB sahkan perjanjian air S'gor - pusat disambung

Menteri Besar Mohamad Azmin Ali mengesahkan perjanjian air di antara kerajaan negeri Selangor dan kerajaan persekutuan disambung semula hari ini.

Katanya, ini kerana Menteri Tenaga, Air dan Teknologi Hijau Datuk Seri Datuk Maximus Ongkili telah mengutus surat mengatakan mereka akan kembali merujuk kepada semangat perjanjian asal.

http://www.kinitv.com/video/16667O74

Posted by kahhoeng > 2015-03-24 09:04 | Report Abuse

wonder if azmin is profiting from this water saga? if yes, what differentiate PR from BN?

Posted by annchua > 2015-03-24 09:12 | Report Abuse

he purposely said the agreement lapse two weeks ago...so that the share price slump...then he collect more...maybe use other ppl name...until the point the collect enough...he will said the agreement done...share price shoot up...he hoh sei...hahhaha

Posted by rlch > 2015-03-24 09:53 | Report Abuse

PR also need to find money to spend otherwise how to fight BN?

Posted by kahhoeng > 2015-03-24 10:43 | Report Abuse

so after angry with BN shitting on us, we welcome PR to shit on us so that PR can shit on BN to make us happy? SIgh!

Posted by Superb99 > 2015-03-24 17:43 | Report Abuse

sounds like it is going to be completed soon...

Posted by sudahkena > 2015-03-24 19:04 | Report Abuse

:)

Posted by annchua > 2015-03-24 19:08 | Report Abuse

Roger...any insider news to share?

Posted by jacklintan > 2015-03-24 22:32 | Report Abuse

I see positive news coming soon

Posted by jacklintan > 2015-03-24 22:33 | Report Abuse

Harap orang kerajaan yang tengah usahakan soal air Negara, betul2 kerja dengan baik. Jangan bincang 1 jam, minum kopi 5 jam....

Posted by SinGor > 2015-03-25 09:22 | Report Abuse

The starting of 3rd extension--is the making of 4th extension. They are discussing the same old
topics for the last 60 days. Both parties are waiting the opposite side to blink.
I am waiting EPF buy signal.

Posted by rlch > 2015-03-25 09:27 | Report Abuse

If want them to conclude fast please enforce more water rationing while Puncak still have power.

Posted by jolie2 > 2015-03-25 09:51 | Report Abuse

this is a no-brainer deal. The fed will have to close it as they need to pay debt for the bond issue by PAAB.

Posted by SinGor > 2015-03-25 10:01 | Report Abuse

It takes another 39 months (now 45 months) for Langat 2 to finish. Fed said they can channel
water from the already dug tunnel but the pippings are NOT there. ( who is going to
pay for these extra works --Selangor PPL) Only water management works and Syabas
careless whether you have water to flush your shit on the 24th Floor. Puncak and Co
are problems created by Fed. Public services like Buses and Water MUST be borne by
Government because they are NOT suppose to make money

Posted by smartly > 2015-03-25 11:24 | Report Abuse

make sense to wait for buy signal else you get stuck here for no ending 'story'.

Posted by whitesheep > 2015-03-25 12:45 | Report Abuse

i think any good news will at least 2-4 weeks ... they just started to renegotiate

Posted by SinGor > 2015-03-25 13:05 | Report Abuse

Any negotiations after 30 days is called a impasse. If you want result--changed the lead
negotiator (both side). Usually lead negotiator wants to "jaga face" so No result. I think
the 4th extension lead negotiators will be Azmin & Najib--Most likely you will see the
end of the tunnel-- some where around May (Gossip from the ground)

Posted by rlch > 2015-03-25 14:13 | Report Abuse

Selangor to grant access of land in tanked Selangor's water exercise

By Cynthia Blemin / theedgemarkets.com | March 25, 2015 : 1:40 PM MYT

KUALA LUMPUR (Mar 25): Energy, Green Technology and Water Minister Datuk Seri Maximus Ongkili said the Selangor government had granted the federal government access of land where the pipes were located following a tanked water deal.

"There is no revision and we have to stick to the agreement (master water agreement).

"I also understand that they (Selangor) will give us access to the land," said Ongkili, expressing confidence that a new document with minor adjustments was expected to be signed soon between both the federal government and Selangor on the water restructuring.

However, Ongkili was not able to give any time frame as to when it will happen. He said this to reporters outside parliament building today when asked on the status of discussions between the federal government and Selangor after the extension to the master agreement recently lapsed.

Ongkili confirmed that officials from both sides met last Monday and that there is no dispute on the ownership of the land where the water pipes are.

He also clarified that the proposal by the federal government to lease the land where the pipes are from Selangor is no longer neccesary following the meeting and that it still remains under the ownership of the state.

He also said there will not be any revision to the price for the takeover of Selangor's water assets.

To recap, the Selangor state government had decided not to give the federal government a third extension to the master water agreement that lapsed recently.

Selangor Menteri Besar Mohamed Azmin Ali had then voiced his disappointment over the federal government's decision to not honour the master agreement that was signed by his predecessor, Tan Sri Abdul Khalid Ibrahim, claiming that the ownership of the land where the water assets are was never in the master water agreement.

Posted by rlch > 2015-03-25 14:50 | Report Abuse

How much is cash per share Puncak suppose to receive if agreement remain same? RM3 or RM3.50?

Posted by hng33 > 2015-03-25 15:14 | Report Abuse

rich

Total cash from water assets disposal is RM 1.555 billion, translating into cash RM 2.90/fully diluted share. If take into account Puncak existing cash holding, cash per share will boosted to about RM 3.80/fully diluted share

Posted by hng33 > 2015-03-25 15:19 | Report Abuse

http://www.themalaysianinsider.com/malaysia/article/selangor-to-grant-putrajaya-access-to-land-in-tanked-water-exercise-says-mi

Posted by jacklintan > 2015-03-25 15:27 | Report Abuse

hng33: where u get the figure from?

Posted by hng33 > 2015-03-25 15:38 | Report Abuse

jacklintan

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 jacklintan > 2015-03-25 16:14 | Report Abuse

Thanks hng33. What is the impact on price should they raise the water tariff?

Posted by hng33 > 2015-03-25 17:04 | Report Abuse

jacklintan

To increase water traffic, Syabas need approval from state gov + fed gov. Although Puncak control 70% stake (majority shareholder) in syabas, but any decision on capex for pipe replacement and water traffic need State which control 30% in syabas (minority shareholder) + Fed gov (1 Golden share).

Inability of Puncak to control syabas is a main reason for Puncak to declassify syabas as Joint venture company of Puncak, rather than consolidate sybabs under subsidiary company.

Since, both state and Fed gov already in the midst to acquire syabas from Puncak, therefore, any traffic hike will only materialize later.

Posted by kahhoeng > 2015-03-25 17:09 | Report Abuse

Hng33, your posted news sounds promising, wonder why hasn't share price reflected the news?

Posted by kahhoeng > 2015-03-25 17:55 | Report Abuse

Damn Azmin!

http://www.theedgemarkets.com/my/article/no-federal-access-water-asset-land-yet-says-azmin?type=Markets

KUALA LUMPUR (Mar 25): Selangor says it has yet to decide whether to grant the federal government access to land where the state's water pipes are installed, contrary to what Energy, Green Technology and Water Minister Datuk Seri Maximus Ongkili claimed earlier today.

Menteri Besar Mohamed Azmin Ali told reporters in parliament today that the state government had just restarted negotiations with the federal government after the master water agreement between the federal government and Selangor, which was twice extended, lapsed.

The deal tanked when Selangor decided not to give the federal government a third extension.

"That (access to the land) is still under discussion. It is only fair for us to go through it [the discussion]. As long as we stick to the CPs (conditions precedent) and terms of the master agreement, which doesn't say about the land, then we can conclude the master agreement," said Azmin.

"We have to complete the CPs on both sides and the CPs do not say we have to surrender the land. But if you [the federal government] changes the "syarat" (terms) you [they] will prolong the process," said Mohamed Azmin.

He affirmed that there was a meeting between Selangor and state government officials on the water deal on Monday and that it was attended by the state secretary and the Ministry's secretary general.

Mohamed Azmin's statement this afternoon negated Energy, Green Technology and Water Minister Datuk Seri Maximus Ongkili's claim earlier today that the federal government had been granted access to the land by Selangor.

Ongkili had said officials from both sides met last Monday, and that there was no dispute on the ownership of the land where the water pipes were laid.

Further, Ongkili had also said the proposal by the federal government to lease the land where the pipes were located from Selangor was no longer neccesary following the meeting, and that the land still belonged to Selangor.

Meanwhile, Mohamed Azmin said when the state government decided not to grant another extension on the agreement, the minister had sent him a letter indicating that Selangor was committed to honour the master water agreement.

"I'm committed to resolve this issue. When the federal government also [indicated it] has the [same] commitment, we began the negotiations," he added.

He said he would meet Ongkili in a few weeks but added that there was no timeline yet as to when discussions on the issue would be completed.

"It depends on the negotiations," he said.

Posted by hng33 > 2015-03-25 18:36 | Report Abuse

Now, Selangor says no deal to allow Putrajaya access to land -

Selangor today said there was no agreement yet to allow Putrajaya access to lands where its water pipes were located following the tanked water deal, despite a minister claiming otherwise hours earlier.

Selangor Menteri Besar Mohamed Azmin Ali said the discussions between both Selangor and officials from the Energy, Green Technology and Water Ministry had just commenced on Monday, and no decision had been made on the matter.

"No agreement yet. We just started discussions yesterday" he told reporters outside the Parliament lobby today.

He said what was important was that the spirit and terms of the master agreement must be adhered to.

He added that the conditions did not state Selangor needed to surrender its lands where the 26,000km of pipes run through, to Putrajaya.

Azmin also gave his assurance that he was committed to resolving the issue.

Energy, Green Technology and Water Minister Datuk Seri Maximus Ongkili said earlier this morning that Selangor had allowed the federal government access to the disputed lands.

"There is no revision and we have to stick to the agreement (master water agreement). I also understand that they (Selangor) will give us access to the land," said Ongkili, expressing confidence that a new document with minor adjustments would be signed soon between the federal government and Selangor on the water restructuring agreement.

The master agreement was signed by Azmin's predecessor Tan Sri Abdul Khalid Ibrahim last year, aimed at taking over operations of the RM30 billion Selangor water industry from four private companies and returning it to public ownership.

The terms of the master agreement include state special-purpose vehicle Pengurusan Air Selangor Sdn Bhd (PASSB) acquiring Syarikat Bekalan Air Selangor Sdn Bhd, Puncak Niaga Sdn Bhd, Konsortium Abass Sdn Bhd and services licence-holder Konsortium Air Selangor Sdn Bhd.

Pengurusan Aset Air Bhd (PAAB) will pay RM1.68 billion to facilitate the concession acquisitions and in return, the Selangor government will turn over the water assets to PAAB for a period of 45 years.

PAAB will lease the water assets to PASSB, which will pay a leasing fee to PAAB, at a rate that will be determined between the two parties and set out in the facility and lease agreements.

Earlier this month, Azmin had announced that Selangor would not grant Putrajaya a third extension on the Selangor water restructuring deal, accusing the federal government of breaching the terms of the agreement.

He also said the deal tanked because Putrajaya wanted free land where the water pipes were located.

But, Ongkili said Putrajaya did not renege on the Selangor water deal by demanding free land as the provision was already inked in the master agreement. – March 25, 2015

Posted by SinGor > 2015-03-25 19:17 | Report Abuse

hng33. We should removed Ongkili as the lead negotiator. He is giving us false hope and
info.

Posted by hng33 > 2015-03-25 19:41 | Report Abuse

SinGor


Azmin: there was no agreement yet to allow Putrajaya access to lands where its water pipes were located and no decision had been made on the matter.
"No agreement yet.

Ongkili: I also understand that they (Selangor) will give us access to the land. Therefore, proposal by the federal government to lease the land where the pipes are from Selangor is no longer necessary following the meeting and that it still remains under the ownership of the state.


Clearly, no conflict, the major dispute already dissolved, both fed and state have agree that land ownership is no longer a issue, all still under state.

The only issue pending is on what condition state allow fed to access to the land where its water pipes were located. Such as Fed will only allow to access to the land if there is need to repair pipe, replace new pipe and perhaps each time, when Fed need to access to the land, it must apply to state first, seek for approval etc. All these condition to access to the land will be iron out in the agreement to be signed under supplementary agreement.

Posted by whitesheep > 2015-03-25 20:03 | Report Abuse

that is big different in understanding of the "access" to the land where pipes were located.

Posted by SinGor > 2015-03-25 20:23 | Report Abuse

On Sun 23 PKR politician told no deal ( same answer 24 Mar) The pipes can cut thru prime
land or cut a parcel land into 2 pieces ( immediately downgrade the value ). That the reason
Azmin wants Fed to pay for the land. The damage done to land value is far more than you
anticipate because who can plan land use in future. All steel pipes are 2.1/2feet or slight more
in diameter. Don't need alot of space to lay and repaired.
This is just land use but what about 2 precedents ( no discussion yet ). i think Fed will not
give up the Golden vote and dam ownership.

Posted by kahhoeng > 2015-03-25 23:20 | Report Abuse

don't think the whole dilemma is on Ongkili, its more like two different parties bragging their 'marvelous contributions' which amounts to nothing! Guess Azmin is keen to show the public and PR that he can be tough towards BN to strengthen his leadership, a common shows of Malaysia's politicians, even these measures hurt public in the long run

Posted by davidtslim > 2015-03-26 02:09 | Report Abuse

I think the land issue ownership already resolved (belong to state). The access issue will be solved sooner or later as both sides are committed for undistruptable water supply.

Posted by SinGor > 2015-03-26 09:01 | Report Abuse

That comment is a nail to the spot--Kahhoeng. ALL politics

Posted by hng33 > 2015-03-26 09:05 | Report Abuse

Land ownership is no an issue now, Fed will neither ask for land transfer for 'free' nor need to lease the land from state. State only need to grant access to the land where its water pipes were located. Bear in mind, all these existing pipe network spanning across 26,000km throughout Selangor/KL, Putrajaya, are mostly already very old, burst, leakage and is main culprit for high 36% non revenue water, it urgently due to be replaced.

Therefore, for state to grant access to the pipe for repair and replacement is non an issue, but State need to iron out the term and condition on each occasional to allow Fed access to the land where its exiting old water pipes were located for repair and replace. These term and condition to access the land will be state clearly in the supplementary agreement to be sign on top of leaseback agreement to be sign by State and Fed later.

Posted by kahhoeng > 2015-03-26 09:10 | Report Abuse

All thanks to Azmin again!

Posted by SinGor > 2015-03-26 09:18 | Report Abuse

hng33. You don't understand the real problem. Many pipes cannot be dug up again. Like
the one in front of my shoplot. It is locate next to my main pillar. You need NEW land to
lay new pipe. In Selangor fringes most land are PRIME land. If the land is not allocated
for drainage, it is planned for highway pillars

Posted by hng33 > 2015-03-26 09:49 | Report Abuse

SinGor

Agreed, but state have to corporate with Fed to repair and replace old pipe network. These is chicken and egg scenario, if old, burst, leakage pipe cannot replace, non revenue water cannot reduce, which in turn, cause loss in water revenue, loss in treated water during distribution mean loss in money collection, state will continue face shortage in water in future even if langat 2 is operation.

The main objective is to reduce non-revenue water and most importantly is that both state and fed share the same goal here to replace old, burst, leakage pipe distribution.

Therefore, both Fed and state need to iron the term and condition to access the land, if need to bypass exiting pipe network, fed need to seek state approval and State must agree to alternate route to lay the new pipe network (so that both Fed and State crony have equally share in these multi billion pipe replacement business opportunity).

Posted by hng33 > 2015-03-26 10:05 | Report Abuse

No new deal with Selangor, says Water Ministry

There is no new document or any amendment to the present master agreement between Putrajaya and Selangor's water restructuring exercise, the Energy, Green Technology and Water Ministry clarified today.

This was because the ministry was still waiting for the state government to provide feedback on areas of mutual agreement in the deal that will see Selangor take over water services in the state.

A statement by the ministry said Minister Datuk Seri Maximus Ongkili had already explained previously that "a new master agreement need not be signed and there need not be any amendment to the present master agreement at the moment".

"The minister also said he had not yet received the Selangor Menteri Besar’s reply to his letter requesting for the Selangor government to rethink its decision not to extend the cut-off date of the master agreement," statement said in response to a report by The Edge Financial Daily that was carried in The Malaysian Insider today.

In the report, Ongkili was reported saying that Putrajaya and Selangor would sign a new document with minor adjustments on the water restructuring.

The report also said Ongkili was made to understand that Selangor will grant the federal government access to the land where water piped are located, but this was disputed by the state's menteri besar Mohamed Azmin Ali later in the Parliament lobby today.

Access to Selangor's land was cited by Azmin as a main issue in the state's move to abort the water deal, accusing the federal government of breaching the terms of the agreement.

Earlier this month, Azmin announced that Selangor would not grant Putrajaya a third extension on the restructuring deal.

He also said the deal tanked because Putrajaya wanted free land where the water pipes were located.

But, Ongkili said Putrajaya did not renege on the Selangor water deal by demanding free land as the provision was already inked in the master agreement.

The ministry in its statement tonight added that the list of assets submitted by Selangor government would have to be amended by way of a supplementary document in view of the ownership of land at the Bukit Nenas and Semenyih water treatment plants belonging to the federal government.

This would only be considered after the joint discussions between the two sides on outstanding matters in the master agreement, it said. – March 25, 2015.

Posted by SinGor > 2015-03-26 10:25 | Report Abuse

Land issue --Chicken & Egg --No solution (Ext # 3) Next: Fed " Golden Vote"--any solution?

Posted by rlch > 2015-03-26 10:37 | Report Abuse

When oil is up, Puncak tend to benefit as well through GOM.

Posted by smartly > 2015-03-26 10:48 | Report Abuse

puncak price like yo-yo. can ding-dong play :p

Posted by baiyuensheng > 2015-03-26 10:55 | Report Abuse

which company will be benefited from the contracts of laying new water pipes? Thx

Posted by hng33 > 2015-03-26 11:01 | Report Abuse

Land issue --Chicken & Egg --No solution (Ext # 3) Next: Fed " Golden Vote"--any solution?...

No solution, delay, but, the more time delay mean Puncak can still continue reap lucrative water concession business, profiting annualized EPS 60-80sen.

On the other hand, the longer the delay, both State and Fed are the loser, state cannot regain control water assets, continue loss and wastage in treated water suppy due to old/leakage/burst pipe network resulting non revenues water continue at high level, multi billion capex on pipe replacement can't proceed, overhang in Langat 2 project, incoming water shortage/rationing, state face limited new development due to shortage in water supply