Posted by hng33 > 2015-04-09 17:13 | Report Abuse

Very likely to extend another month as both Azmi and Ongkili have yet to have meeting, which original scheduled to have meeting within these week.....It could partly due to Azmi is busy in state legislative assembly. Nevertheless, will continue hold on the Puncak.

Posted by smartly > 2015-04-09 17:21 | Report Abuse

month after month. :p

Posted by sudahkena > 2015-04-09 17:34 | Report Abuse

Already eat ca.. cb.. cc.. coming soon cd...

Posted by Yoon129 > 2015-04-09 17:40 | Report Abuse

no announcement from Puncak....

Posted by superspeculator > 2015-04-09 17:55 | Report Abuse

Puncak cd confirm habis. Extended to 11 may @@

Posted by hng33 > 2015-04-09 18:02 | Report Abuse

As expected, deal is extended by another month to 11 May. Hopefully, by then both Azmi and Ongkili can conclude the deal in the upcoming meeting

On behalf of the Board of Directors of PNHB, Hong Leong Investment Bank Berhad wishes to announce that the Company and Pengurusan Air Selangor Sdn Bhd (formerly known as Temasek Tiasa Sdn Bhd) (“Air Selangor”) had mutually agreed to a further extension until 11 May 2015 for the fulfillment of the conditions precedent stated in the conditional sale and purchase agreement dated 11 November 2014 (“SPA”) (“4th Extension of Time”)

Posted by superspeculator > 2015-04-09 18:58 | Report Abuse

我等到花儿也写了

Posted by viktor2u > 2015-04-09 19:23 | Report Abuse

Puncak Niaga's RM1.5b sale of water assets to Air Selangor gets 4th extension

By Meena Lakshana / theedgemarkets.com | April 9, 2015 : 6:32 PM MYT


KUALA LUMPUR (Apr 9): Puncak Niaga Holdings Bhd ( Financial Dashboard) said the proposed RM1.5 billion disposal of its water assets to Pengurusan Air Selangor Sdn Bhd (Air Selangor) has been extended for the fourth time by another month to May 11, 2015.

In a filing with Bursa Malaysia today, Puncak Niaga (fundamental: 1.5; valuation: 1.2) said both the company and Air Selangor had mutually agreed to a further extension until May 11 for the fulfillment of the conditions precedent stated in the conditional sale and purchase agreement dated Nov 11 last year.

The proposed sale entails the disposal of Puncak Niaga’s 100% stake in Puncak Niaga (M) Sdn Bhd and 70% stake in Syarikat Bekalan Air Selangor (Syabas) to the Selangor state agency.

The RM1.5 billion deal was agreed in principle last year and finally approved by Puncak Niaga’s shareholders in January. The sale is a key component in the prolonged water restructuring dispute between the opposition-led Selangor and Putrajaya.

It was reported that Selangor Menteri Besar Mohamed Azmin Ali and the Energy, Green Technology and Water Minister Datuk Seri Dr Maximus Ongkili are to meet this week to discuss on matters involving the master agreement signed between both governments in September last year.

Puncak Niaga shares closed 4 sen or 1.46% lower at RM2.70 today, giving it a market capitalisation of RM1.12 billion.

Posted by AlexanderJin > 2015-04-09 22:46 | Report Abuse

Wah...really testing my patience...

Posted by rlch > 2015-04-09 22:55 | Report Abuse

Sultan Selangor deadline is 30th April so extension another month can make it? Is this the final extension?

Posted by hng33 > 2015-04-10 08:18 | Report Abuse

Fourth extension in Selangor water restructuring deal

PETALING JAYA: Puncak Niaga Holdings Bhd (PNHB) and Pengurusan Air Selangor Sdn Bhd (Air Selangor) have mutually agreed to a fourth extension, until May 11, to fulfill the conditions precedent for the sale of PNHB's water concession business to the latter.

The agreement, signed in November last year, was to to dispose of PNHB's 100% equity interest in Puncak Niaga (M) Sdn Bhd and 70% stake in Syarikat Bekalan Air Selangor Sdn Bhd (Syabas) to the Selangor government entity for RM1.55bil in cash.

PNHB, which made the announcement on the latest extension to Bursa Malaysia on Thursday, had met all conditions precedent that it was supposed to fulfill.

In announcing the third extension last month, it had expressed its board’s concern over the delay in the proposed disposals and the consolidation/restructuring of the Selangor water industry. The board had felt it might affect the level of services and management of the water supply system in the state, Kuala Lumpur and Putrajaya.

On March 30, Sultan of Selangor Sultan Sharafuddin Idris Shah urged the Federal and Selangor governments to conclude the water deal as soon as possible in accordance with the spirit of the master agreement

Posted by rlch > 2015-04-10 09:14 | Report Abuse

GST money is now being collected. Are the delay because Selangor state and Puncak want more money from Federal gov?

Posted by SinGor > 2015-04-10 09:21 | Report Abuse

Let see next 2 week what Azmin wants. If it is Langat 2 projects then 5th ext is in the making.
Azmin has no choice and NO money. How can he paid Splash at 1X book value??
Splash will be paid in "kind" (projects). KPS(projects) and Gamuda(projects) will be smiling and Sweet Water will be grinning all day long ( debt free & concession )

Posted by rlch > 2015-04-10 09:27 | Report Abuse

I thought everything(water restructuring money) is borne by Fedaral gov, the question is RM14 billion enough or Azmin want more? Puncak is smart to ask to be paid first.

Posted by SinGor > 2015-04-10 09:44 | Report Abuse

Rich. I have been going after every Fed project to look for small job but everybody said Fed
has no money --better stop work. GST cannot covered Oil revenue loss. Petrol will be
tax next to raise money for emergency like Gov Servants salary. After this 48billion 1MDB
interest due ( don't know what will be taxed ). The last time i said maybe Puncak will not be
paid in time - everybody get upset. Bcos i don't see where the money will be coming from.

Posted by kahhoeng > 2015-04-10 10:38 | Report Abuse

singor, you do have a point, especially with commodities not seeing the light of hope. Hope this will not happen, sigh!

Posted by SinGor > 2015-04-10 10:59 | Report Abuse

We cannot blame the Fed. Nobody on planet Earth forecast oil price to be below 50.
Actually Fed is a Good pay master when they have money (all procedures followed of course))

Posted by kahhoeng > 2015-04-10 12:10 | Report Abuse

Singor, still holding my shares not sure what to do, guess if government so keen to raise salary now, they should have enough to address the water issue in selangor...

Posted by hng33 > 2015-04-10 12:25 | Report Abuse

With end of State legislative assembly yesterday, now Azmi is free to meet Ongkili already

Posted by SinGor > 2015-04-10 13:07 | Report Abuse

Najib is still holding billions of ringgit under his department that cannot be touch by anybody.
( by Tony Pua -DAP ) How he wants to use it --is anyone guess. Only 1.6 billion to buy off
Puncak--not a problem

Posted by ckleow > 2015-04-10 17:59 | Report Abuse

Najib spend so much for personal use and no reason for him do not spend on this. Otherwise, another question from our M.

Posted by SinGor > 2015-04-10 18:44 | Report Abuse

Dr M is fearless. Will cause chaos in Najib administration. Najib is fully anchored for a fight.
That is not good for us bcos we really need Najib and Azmin to meet and iron out the deal.
Paid Puncak quick before 1MDB blowout. Once Puncak is paid--splash can be resolved
fast because i think there No money involved

Posted by SinGor > 2015-04-10 19:40 | Report Abuse

I am confused now. Maybe Puncak will not be paid first unless Splash deal is also completed.
Bcos PAAB will not absorb everybody Debt unless the Whole restructuring is done.
Good question for PKR lawyers

Posted by jolie2 > 2015-04-10 19:51 | Report Abuse

splash deal target to complete by sept.
it is only 4 months from may (puncak deal).
there both deal may be close together as what i predicted earlier although kena shoot back for mentioning this prediction.

Posted by SinGor > 2015-04-11 08:27 | Report Abuse

Some very serious talks already ongoing directed by Anwar before he goes to jail.
Splash deal Might have already concluded. All waiting for Puncak deal. Collection of KPS
is ongoing at 1.50 (more than 1 month--even news might not leakout but shares done cannot
lied)

Posted by jolie2 > 2015-04-11 09:38 | Report Abuse

azmin is "killing 2 birds with one stone".
both deal may be completed at the same time by him.

not like khalid, only start working when want to kena sack. sleeping all the time for the last 6 years. what has he done for selangor ... nothing. road in selangor in worst condition.. potholes everywhere...rubbish everywhere....zero development... always think about his debt owed to bank islam... now after sacked, some more can shout.. better keep low profile-lah like Khir Toyo..
Toyo smart.. he even apologize to pkr .

Posted by kahhoeng > 2015-04-11 09:55 | Report Abuse

jolie, are you sure? Anwar praised Khalid like hell before he was sacked, probably curses him like hell now

Posted by jolie2 > 2015-04-11 11:52 | Report Abuse

sure.. everyday lecture by anwar. see this photo below. Lecture many times also don;t understand , end-up anwar sack him, Six years also don;t understand.

http://310627192.r.worldcdn.net/media/k2/items/cache/b1945881b2a53ad1e0a8f6abab9d6b68_XL.jpg

Posted by Panglima > 2015-04-11 12:16 | Report Abuse

sekarang masih mahu daki loo... belum sampai puncak, tunggu ha... kasi 2 week kita sampai puncak tarak tinggi pun sampai juga itu puncak.. takda everest kasi itu gunung tahan ok juga....

Posted by Tornado > 2015-04-11 15:06 | Report Abuse

Ketinggian Gunung Tahan ada lepas 3xxx , boleh tahan juga, sekarang baru 2xxx aje....

Posted by kahhoeng > 2015-04-11 18:42 | Report Abuse

jolie, good to know that you have proof... probably anwar forgot to slap khalid, and khalid thought anwar didn't love him enough

Posted by jolie2 > 2015-04-11 19:02 | Report Abuse

see below on khalid always sleeping .... sleeping for 6 years like a sleeping beauty... need anwar to give him a goodbye kiss , then only wake-up.

https://ahmadalijetplane.files.wordpress.com/2014/04/kerana-terlelap-khalid-ibrahim-akui-ada-masaalah-kesihatan-1.png?w=625&h=343

Posted by hng33 > 2015-04-11 22:57 | Report Abuse

MB: Tunggu maklum balas Persekutuan bincang penstrukturan air

SHAH ALAM, 11 APR: Kerajaan Negeri kini menunggu maklum balas Kementerian Tenaga, Teknologi Hijau dan Air bagi mengadakan perbincangan lanjut berhubung perjanjian penstrukturan semula air di Selangor.

Dato’ Menteri Besar, Mohamed Azmin Ali, berkata pihaknya sudah mengutus surat kepada kementerian berkenaan minggu lalu dan sedang menanti jawapan daripadanya.

Azmin Air“Saya menulis surat kepada menteri (Datuk Seri Dr Maximus Ongkili) dan memohon supaya pertemuan diadakan segera.

“Sekarang saya sedang menunggu tarikhnya,” katanya kepada media di sini, hari ini.

Sidang Dewan Negeri Selangor (DNS) berakhir 9 April lalu meluluskan usul supaya Kerajaan Negeri mengadakan perbincangan dengan Kerajaan Persekutuan mengenai perkara itu.

Sebelum ini, Kerajaan Negeri membuat keputusan tidak meneruskan perjanjian ekoran Kerajaan Persekutuan didakwa tidak menghormati terma dan syarat dalam perjanjian ditandatangani pada 12 September 2014.


Remark: Now Azmi need to eat own self word, change from previous arrogant to lapse master agreement last month into now eager waiting for Ongkilil to meet him. Azmi is now facing pressure from own Dewan Negeri Selangor and Sultan Selangor to seal the water deal as soon as possible.

Posted by kahhoeng > 2015-04-12 09:19 | Report Abuse

guess anwar loved khalid's sleepy look for years til last year...

Posted by kahhoeng > 2015-04-12 18:41 | Report Abuse

hng33, until azmin concludes the water restructuring, its hard to say if he really intends to complete it. His record is bad, bad, bad

Posted by rlch > 2015-04-12 19:08 | Report Abuse

‘Quit if you can’t solve water issue’

SHAH ALAM: Selangor Menteri Besar Azmin Ali should resign if he is incapable of solving the state’s water issue, said Selangor Umno liaison chairman Datuk Seri Noh Omar.

“I wish to warn the Menteri Besar not to politicise the water issue as it has nothing to do with politics.

“Instead, it is a problem affecting the Selangor rakyat and it could gravely jeopardise the state, he said at a press conference at the Umno Selangor building here yesterday.

Noh claimed that it was clear that the Selangor state government was deliberately ruining the state if it does not continue the water deal with the Federal Government.

“If the MB has no intention on managing and solving the water woes, then he should resign,” he reiterated.

Noh was asked to comment on former Selangor menteri besar Tan Sri Khalid Ibrahim’s call for Azmin to step down for someone more deserving following the latter’s recent policy decisions concerning the wealthiest state in Malaysia.

“It seems that the new MB wants to show off that he was better than the previous one.

“I believe what he is doing now is to destroy Khalid’s legacy,” he claimed.

Khalid, he added still had the locus standi to comment on Selangor as he led the state for a longer period of time and had made several policy changes during his time.

Nation
Home > News > Nation
Published: Saturday April 11, 2015 MYT 12:00:00 AM
Updated: Saturday April 11, 2015 MYT 12:43:45 PM

Posted by annchua > 2015-04-13 09:24 | Report Abuse

Support Noh Omar...Azmin should quit

Posted by SinGor > 2015-04-13 09:50 | Report Abuse

Azmin will NOT step down and even the Sultan of Selangor cannot sack elected
MB ( see Selangor constitution) Only Pakatan rakyat can sack Azmin (like Khalid).
Who will replace Azmin--Ask DAP

Posted by hng33 > 2015-04-13 11:21 | Report Abuse

I think no one support Azmi personal politicking move to lapse master agreement, even from PR or PKR itself.

Now, state assemble already through official motion demanding MB to resume talk with Putrajaya.

Azmi is left alone, facing join effort pressure from Sultan Selangor + Fed gov + State legislative motion + State opposition

Posted by SinGor > 2015-04-13 11:57 | Report Abuse

Azmin is the most slickly politician in Pakatan Rakyat. If he resign then I have overestimate
his abilities ( like a office boy--one scold- tommorrow cannot even see his shadow). Look at Najib and Anwar--pressure comes like tsunami.

Posted by kahhoeng > 2015-04-13 16:45 | Report Abuse

hng33, what give you the impression that PKR and PR are also unhappy with the water restructuring dilemma by Azmin? Thanks

Posted by kahhoeng > 2015-04-13 17:03 | Report Abuse

If I were not wrong, once restructuring is completed, Azmin will RAISE water tariff, claiming its in the BEST interest of Selangor people to help preserve the precious water resources and also because of GST, haha...

Posted by hng33 > 2015-04-13 17:21 | Report Abuse

kahhoeng

There is no news or comment from PKR or PR leader to support Azmi to lapse master agreement. In addition, Azmi is been question in the state legislative assembly not only from opposition but also from PR member to explain the reason. Even Azmi keep on explaining, but state assembly (control by PR) still pass the motion demanding Azmi to resume talk with Putrajaya.

I think all of them is well know that Azmi is his own, play politicking, lapse master agreement without seek consent from state exco. Bear in mind, current almost all of the current exco Azmi is assume from Khalid (only replace PAS exco with new PKR) which collectively responsible to the master agreement.

Posted by kahhoeng > 2015-04-13 17:29 | Report Abuse

hng33, noted with thanks.

Posted by kahhoeng > 2015-04-13 18:21 | Report Abuse

hng33, on page 97 in part 2 annual audited account, its stated

"The profit from the discontinued operations of RM255,177,000 is attributable entirely to the owners of the company"

Does that mean so long the deal is not completed with proceeds handed over to Puncak, Puncak shall continue to profit from Puncak's to-be-sold businesses? Think you have mentioned about it before, but can't find the source

Problem is, in page 98 in part 2, its also mentioned that cash flow from discontinued operation is a -RM132.988 millions. How's Puncak going to benefit from the profit when the cash flow is negative while its a business to be handed over?!?

Posted by hng33 > 2015-04-14 08:43 | Report Abuse

kahhoeng

Negative cash flow mainly due to inability of syabas to make full payment for treated water supply by PNSB. But, all the outstanding due will be assume by PAAB under take over offer

Posted by SinGor > 2015-04-14 09:24 | Report Abuse

hng33. I never like Azmin because he is a opportunistic. The entire PKR (& Dap) supported
Wan Azizah to be the next MB but Azmin has quietly park himself between the Sultan
and Wan Azizah after knowing the Sultan's intention from PAS.
All said but Pakatan need slick people to match the Grandmaster ( you know who )

Posted by hng33 > 2015-04-14 09:38 | Report Abuse

SinGor

Whatsoever, I doubt Azmi can keep on politicizing on life essential water issue, the whole PKR and PR will at stake in next election

Posted by rlch > 2015-04-14 09:45 | Report Abuse

Actually audited account look good. Why nobody buying?

Posted by samsoongyc > 2015-04-14 09:46 | Report Abuse

Well...I for sure will not vote for them if there is another water rationing !!!