Posted by Roger123 > 2015-06-11 09:12 | Report Abuse

market already adsorbed the news, it wont have a big fall

Posted by Roger123 > 2015-06-11 09:13 | Report Abuse

But if singor is tellling the true that he used bank money, margin call to buy the stocks. Then puncak will have a deep sht. Hahaha.

Posted by Roger123 > 2015-06-11 09:14 | Report Abuse

Everyone already expected that it will delay again

Posted by hng33 > 2015-06-11 09:16 | Report Abuse

kahhoeng

So far only manage to grab news from sinchew on these latest development and its report under national news (small column) instead on business news. Therefore, few will noticed and less attention.

However, if the news is confirm and report in English portal (the star. theedge) then, the impact will be significant, the delay in langat 2 for another 2 more year will affect project contractor (salcon), but so far, sinchew news have yet to double confrim in English portal

Posted by iamnat > 2015-06-11 10:01 | Report Abuse

anyway this is not new. the construction will take 36 months, as planned. so even if start today will end in June 2018. with all these delays, easily it will drag till 2019 even if started today.

Posted by hng33 > 2015-06-11 10:23 | Report Abuse

Agreed, what we concern is Puncak instead of Langat 2, should be indenpendet unrelated issue. But if Azmin use Langat 2 development permit as condition precedent to force Fed to agree on water restructuring term, then it will be direct relation already.....implying that delay in Langat 2 may have direct impact on time to complete water restructuring.

Posted by hng33 > 2015-06-11 10:27 | Report Abuse

Langat 2 project delayed for another 2 years
June 11, 2015

KUALA LUMPUR: The Langat 2 water treatment plant and its distribution system (LRAL2) project may only be fully completed in 2019 instead of 2017 as planned.

Energy, Green Technology and Water Minister Dr Maximus Ongkili said this was because of the delay in executing the Selangor water supply industry restructuring agreement.

“Right now, the Selangor government has instructed the relevant agencies and local authorities to defer the approvals and issuance of permits for the building of the water treatment plant until the restructuring exercise is finalised.”

Ongkili said this when winding up the debate on the 11th Malaysia Plan for his ministry in the Dewan Rakyat, here.

He said the Federal Government had already taken the action needed to enforce the water supply industry restructuring for Selangor and the Federal Territories of Kuala Lumpur and Putrajaya.

The minister said the restructuring exercise could not be fully resolved yet following the Selangor government’s failure to fulfill the conditions in the master agreement signed between the state government and Federal Government.

In fact, he added, the Selangor government had deferred the gazetting of the remaining 23 plots of land applied for acquisition by the Federal Government for the project.

Ongkili said discussions with the Selangor Menteri Besar were ongoing so that matters in the earlier agreement could be fully resolved by the state government.

“The Federal Government will not give up…soon we will meet with the officers involved to give the actual picture and on the need to expedite the implementation of the project in the interest of the people.

In March, Selangor Menteri Besar Mohamed Azmin Ali revoked the Selangor water supply industry restructuring agreement, claiming that the Federal Government had breached the agreement.

That action was taken even though the Federal Government and Selangor government had signed a memorandum of understanding on the restructuring exercise which had prolonged since 2008 until February 2014.

- BERNAMA

Posted by annchua > 2015-06-11 10:33 | Report Abuse

market betul effective...drop...:(

Posted by davidkkw79 > 2015-06-11 10:53 | Report Abuse

just wait after hari raya finish first, then state goverment and federal goverment will only start to do work...

Posted by hng33 > 2015-06-11 10:59 | Report Abuse

Puncak is expect to release news by today or tomorrow to confirm the status of the deal and if delay, may seek another extension. In the meantime, hopefully, Azmin and Ongkili can hold another meeting soon to settle their dispute

Posted by hng33 > 2015-06-11 11:28 | Report Abuse

Anyhow and whatsoever reason, if delay and another extension is definitely not good news to Puncak. Investor have to bear time cost and uncertainty over the deal again.

Posted by annchua > 2015-06-11 11:34 | Report Abuse

lets hope no water in hari raya...then these politician will know the important of water...then they will work together to make the deal through...:P

Posted by hng33 > 2015-06-11 11:44 | Report Abuse

annchua

Yeah, 'no water in hari raya' good point but bad idea though....my brother and sister live in KL leh...but if cut water only in bukit antarabangsa, Azmin house, then its ok

No water is toughest thing, but could be very effective tools to force politician calm down, faster their action to resolve outstanding issue. Not like now, every time, until almost close to deadline, only all these politician jump out and dispute again again, delay delay....extend extend... and worse if abort the deal .....

Posted by annchua > 2015-06-11 11:56 | Report Abuse

hng33, agree..should cut water at Azmin and Ongkili house only...

i am pretty upset with our country politician...non effective in work...only very vocal and promise this and that during election...and always delay and always got excuses...and tebal muka....all learn from Najib? lol

Posted by smartly > 2015-06-11 11:56 | Report Abuse

ding-dong play will certainly make a lot of money.
see how this go so far, yo-yo for so long...

Posted by speakup > 2015-06-11 12:09 | Report Abuse

PANIC SELLING!!!!!! booo chowwwww!!!!

Posted by CK888 > 2015-06-11 12:31 | Report Abuse

speakup: "PANIC SELLING!!!!!! booo chowwwww!!!!"

Sorry, Sifu. I beg to differ.
As at 12:26pm. Only 196.2 (big lot) out of 418,006,379 shares transacted.
Where is the panic selling?....

Posted by SinGor > 2015-06-11 13:18 | Report Abuse

Sold 95,000 shares this morning. Including yesterday sale, I have 5000 left. Luckily trading limits only approved before noon today if not more unloading this morning.

Posted by Roger123 > 2015-06-11 13:28 | Report Abuse

Singor: U r damn lucky.......

Posted by Roger123 > 2015-06-11 13:28 | Report Abuse

Singor: r u peterpan?

Posted by Roger123 > 2015-06-11 13:32 | Report Abuse

I am damn lucky too i sold earlier than singor. He bought my shares

Posted by SinGor > 2015-06-11 13:40 | Report Abuse

If no selling this afternoon, price will go back to 2.70 again tomorrow. Guess who is buying?

Posted by SmartAss > 2015-06-11 13:45 | Report Abuse

Singor , I thought you are setting up a barricade at 2.65 ? hence I bought some at 2.65 !

Posted by SinGor > 2015-06-11 14:04 | Report Abuse

Now Puncak becomes a good trading stock bcoz EPF is trapped by this sell down. Surely
it will rebounce above 2.70--that where EPF will trap us. Spent 4 months playing Cimb with
EPF in similar fashion.

Posted by Superb99 > 2015-06-11 14:06 | Report Abuse

sigh, dropping again, should not believe all these stupid leaders

Posted by Superb99 > 2015-06-11 14:07 | Report Abuse

RHB should be very happy as they have predicted correctly....

Posted by davidkkw79 > 2015-06-11 14:08 | Report Abuse

As I said earlier, have to wait until lepas hari raya , then those stupid leaders will start to berbincang !

Posted by SinGor > 2015-06-11 14:27 | Report Abuse

If you want to see big boys selling --see AirAsia today--27M shares done before Noon.
I Believe EPF didn't sell a single Puncak share by Noon.

Posted by hng33 > 2015-06-11 14:57 | Report Abuse

Since unable to buyback Puncak due to likelihood another extension, delay again, i temporary use capital reserve for Puncak again to swap to accumulate buy Parkson since these morning at 1.86-1.87, Parkson have just declare 3:50 share dividend (6% yield)

Posted by hng33 > 2015-06-11 14:59 | Report Abuse

SinGor

EPF already ease as major shareholder of Puncak, stake below 5%, therefore, any shareholding change will not reported in bursa. However, if there is single order with big volume, it could be EPF i guess.

Posted by Roger123 > 2015-06-11 15:16 | Report Abuse

Sell Sell Sell and buy later

Posted by hng33 > 2015-06-11 17:20 | Report Abuse

Better wait for news to confirm what is the latest status of the deal first (Rozali, Azmin and Ongkili). Don't jump in again if deal remain uncertain as trap once is already good lesson, never repeat same mistake. These highly political link deal will never seal so long these politician yet satisfy their own interest in these multibillion deal.

We as retail investor can only hope for the best and to jump in only if the deal is officially complete and 100% confirm seal (wording alone from Azmin cannot be trust)

Posted by hng33 > 2015-06-11 17:29 | Report Abuse

Langat 2 Plant Project Delay May Result In Water Shortage In Klang Valley And Selangor

KUALA NERANG, June 11 (Bernama) -- More than five million residents in the Klang Valley and Selangor will face water shortage if the Selangor government continues to postpone the water restructuring process in the state.

Deputy Energy, Green Technology and Water Minister Datuk Seri Mahdzir Khalid said the current raw water reserve in Selangor was at 75 per cent, and would deplete when used everyday.

"With the low water reserve margin in the Klang Valley, and raw water cannot be sourced, the Klang Valley will face acute water shortage.

"But, if the water transfer from Pahang to Selangor can be completed, the problem can be addressed," he told reporters here today.

Hence, Mahdzir said he hoped the Selangor government would give priority to the water restructuring process and agree to the proposals made by the federal government.

Yesterday, Energy, Green Technology and Water Minister Dr Maximus Ongkili said the Langat 2 water treatment plant and its distribution system (LRAL2) project would not be ready as scheduled in 2017 due to the delay by the Selangor government in executing the state's water supply industry restructuring agreement.

The minister said the restructuring exercise could not be fully resolved yet following the Selangor government's failure to fulfil the conditions in the master agreement signed between the state government and federal government.

In fact, the Selangor government had deferred the gazetting of the remaining 23 plots of land applied for acquisition by the federal government for the project, he added.

-- BERNAMA

Posted by sudahkena > 2015-06-11 17:42 | Report Abuse

I will wait b4 ramadan.... bcoz azmin said tht ..

Posted by Dylan1027 > 2015-06-11 17:46 | Report Abuse

Seems no surprise. The deal get delayed again.. ! Awful !

Posted by davidkkw79 > 2015-06-11 18:02 | Report Abuse

congrat, the disposal deal will postpone to 6th extension meeting again !

Posted by davidkkw79 > 2015-06-11 18:03 | Report Abuse

We all are happy together for celebrating Hari Raya !

Posted by hng33 > 2015-06-11 18:17 | Report Abuse

On behalf of the Board of Directors (“Board”) of PNHB, Hong Leong Investment Bank Berhad wishes to announce that the Company is seeking its Board’s decision to consider a sixth extension of time for the fulfilment of the conditions precedent stated in the conditional sale and purchase agreement dated 11 November 2014 (“SPA”) signed between the Company and Pengurusan Air Selangor Sdn Bhd (formerly known as Temasek Tiasa Sdn Bhd).

An announcement on the decision of the Board of PNHB shall be made in due course.

This announcement is dated 11 June 2015.

Posted by Roger123 > 2015-06-11 18:22 | Report Abuse

Ren shen ru xi, xi ru ren shen.

Posted by hng33 > 2015-06-11 18:26 | Report Abuse

I think all the Puncak board directors, being independent or non-independent, are all very unhappy.....must complaining now that other listed company director only need to attend company board meeting every quarter or before company release financial result, but for Puncak director, all of them need to gather and attend board meeting almost every month now to seek their decision on extension......

Posted by Roger123 > 2015-06-11 18:55 | Report Abuse

All r games. They r playing money games

Posted by sudahkena > 2015-06-11 20:06 | Report Abuse

Better take 1 year extension. . Rather 1 month. ..

Posted by jacklintan > 2015-06-11 21:38 | Report Abuse

Water issue need to be solved regardless... it's expected as certain clauses needs to be issued in a meeting between 2 parties. Have faith. Stay invest.

Posted by kahhoeng > 2015-06-11 22:38 | Report Abuse

Azmin really enjoys talking rubbish, putting politics above people's welfare. Reading Puncak's statement today, though, let me believe that a deal is to be completed soon more than before.

Posted by superspeculator > 2015-06-11 22:59 | Report Abuse

What if rozali cancel the deal after Ramadan? Puncak going free fall?

Posted by cheoky > 2015-06-11 23:17 | Report Abuse

Hopefully, patience with puncak can be rewarded soon...http://bm.selangorku.com/category/akhbar-selangorkini/

Posted by sudahkena > 2015-06-11 23:50 | Report Abuse

So what is the result .. azmin n ongkili meeting? Hope tmrw ve press statement. .

Posted by hng33 > 2015-06-12 08:30 | Report Abuse

Puncak Niaga says it may rescind water agreement

Thursday, 11 June 2015

KUALA LUMPUR: Puncak Niaga Holdings Bhd (PNHB) said the Selangor water restructuring issue has gone on for too long and it may rescind the agreement with the Selangor state-owned entity, Pengurusan Air Selangor Sdn Bhd.

PNHB, which is considering a sixth extension for the Selangor government to fulfill the conditions precedent in the agreement dated Nov 11, 2014, told Bursa Malaysia on Thursday that it hoped there would be no further extension of time of the stop date of the agreement after the Ramadan month to dispose its assets to the state.

The fifth extension had been till Thursday, June 11.

Last month, Energy, Green Technology and Water Minister Datuk Seri Dr Maximus Ongkili had said in a statement that the Federal government and Selangor will complete the state’s water industry restructuring exercise within 60 days, i.e. by July 20. Hari Raya will fall on July 17 or 18.

“If the matter is still unresolved, PNHB will be left with no choice but to invoke its legal rights to rescind the SPA (sale and purchase agreement) with Air Selangor and both PNSB and Syabas will have to recommence their ongoing legal suits, which had been put on hold pending completion of the consolidation/restructuring of the Selangor water industry to recover the outstanding debts owed by the Selangor state government,” PNHB said.

The debts, it said, had ballooned to RM4.97bil as at March 31, 2015 due to tariff hike not being implemented as stipulated under the Syabas concession agreement.

It said both PNSB’s and Syabas’s cash flows and operations had been “severely constrained due to these high accumulated debts not paid over the years.”

PNHB said the current reserve margin for treated water is now below 1% and the situation was “extremely critical”.

Moreover, the uncertainty and the non-progress of several programmes and initiatives have badly affected the morale of employees of Syabas and PNSB.

“Employees are forced to work in an uncomfortable condition as their offices and transport facilities are compromised as the capex (capital expenditure) is suspended and improvement works cannot be carried out,” PNHB said, adding that staff may not be able to provide the best service with the limitations.

PHNB closed 7 sen lower at RM2.62 on Thursday.

Posted by hng33 > 2015-06-12 08:33 | Report Abuse

Puncak Niaga warns it may cancel sale of its water assets if impasse remains after Ramadhan

KUALA LUMPUR (June 11): Puncak Niaga Holdings Bhd ( Financial Dashboard) warned today that it would cancel the sale of its water assets to the Selangor state government if the impasse between the state government and the federal government over the restructuring of Selangor’s water industry remains unresolved after Ramadhan.

In a statement this evening, Puncak Niaga executive chairman and managing director Tan Sri Rozali Ismail said the issue has remained unresolved for far too long.

“We sincerely hope that there will be no further extension of time of the stop date of the sales and purchase agreement (SPA) after the month of Ramadhan as the matter has prolonged for far too long and if the matter is still unresolved, Puncak Niaga will be left with no choice but to invoke its legal rights to rescind the SPA with Air Selangor (Pengurusan Air Selangor Sdn Bhd) and both PNSB (Puncak Niaga (M) Sdn Bhd) and Syabas (Syarikat Bekalan Air Selangor Sdn Bhd) will have to recommence their ongoing legal suits, which had been put on hold pending the completion of the consolidation/restructuring of Selangor’s water industry, to recover the outstanding debts owed by the state government of Selangor,” he said.

He added that the debts had ballooned to RM4.97 billion as at March 31, 2015, “due to tariff hike not being implemented, as stipulated under the Syabas concession agreement as both PNSB’s and Syabas’ cash flows and operations had been severely constrained due to these high accumulated debts not paid over the years”.

To recap, Puncak Niaga signed a conditional SPA on Nov 11, 2014 with Air Selangor on the proposed disposal of its water assets PNSB and Syabas for RM1.555 billion.

In its statement, Rozali said the delay in completing the restructuring of Selangor’s water industry by the federal government and the state government of Selangor has also resulted in “severe repercussions and inconvenienced the consumers” in Selangor and Kuala Lumpur and Putrajaya of their rights to treated water.

He lambasted them for bandying the phrase “Wait for restructuring!” repeatedly when PNSB and Syabas wanted to initiate any programme that to improve the level of services for consumers.

“This scenario has been ongoing since 2008 and has not seen the light of day till today,” he said.

“To date, we understand that Air Selangor is still not able to fulfill the conditions precedent in the SPA and there may be a further extension (sixth extension) of the stop date before the proposed disposals can be completed to facilitate the consolidation/restructuring of the Selangor Water Industry to be managed by the State Government of Selangor via its state-owned entity, Air Selangor,” Rozali added.

Rozali said under the terms and conditions of the SPA, all conditions precedent were supposed to have been fulfilled on Jan 12, 2015, whereby upon completion, Puncak Niaga will hand over its water concession business in Selangor under PNSB as well as SYABAS to the Selangor government and get paid by the Selangor government.

“This stop date has been extended for several times to enable the pending issues related to the water asset transfer between the state government of Selangor and the federal government to be resolved. The latest stop date being the fifth extension of time of the SPA fall due on June 11, 2015,” he said.

Meanwhile, due to the uncertainties surrounding the conclusion of the restructuring of Selangor’s water industry, he said Puncak Niaga will be seeking its board of directors’ decision to consider a sixth extension of the stop date under the SPA.

Puncak Niaga closed 7 sen or 2.6% lower at RM2.62 today, for a market capitalisation of RM1.09 billion.

Posted by kahhoeng > 2015-06-12 09:17 | Report Abuse

how come when I read news on Azmin, I thought of Tsipras?