Puncak join oil & gas whn oil prices more thn US 100 now < US 50 so Puncak wil b very very hurt by its oil & gas biz result from now red red red is it? Thank u
Puncak has 1.7 - 1.9 billions CASH right now, depending on the warrants/sukuk to be converted, translating into 3.60 - 4.05 CASH per share. But then, anal-ysts propagating 2.90 CASH per share and should include a 5%-10% discount due to losses in O&G business.
Before anyone trying to suggest the cash in ONLY 2.90/share, could you kindly do some analysis on Puncak's latest quarter report before saying anything?!? It's annoying when one doesn't even attempt to conduct some basic homework and still claims to know everything...
What's more, after special dividend, Puncak shall still has 1.2 - 1.4 billions CASH, and assuming a modest interest rate of 3% per annum, the interests received itself will be 36 - 42 millions, more than enough to cover the losses in o&g industry. Frankly, totally has 0 idea why there is a need to put a discount on this CASH!
A recent ECOWORLD purchase of land of almost 1 million per acres in Kuala Selangor shall suggest Puncak has a minimum 280 millions worth of land convertible into property development given its landbank there of 280 acres, translating into 0.50 - 0.60 cash equivalent per share to Puncak. Even by developing this piece of land itself will easily take Puncak a busy 10 years property development opportunity without having to source a different business. When ECOWORLD purchased the land, ECOWORLD share price rises, while Puncak's landbank there is ignored... What to say, either Rozali has forgotten about his small shareholders or Rozali's reputation is really bad in the investment community to deserve the bashing!
Shariah status will be review next month. Puncak have high possible to re-enter into list, as Puncak now is debt free, net cash position status.
It is therefore, get rid of condition in shariah requirement on convention debt and sukuk debt ratio. If shariah status reinstate, it will allow LTH to resume accumulation.
to meet shariah compliance, Puncak must NOT have more than 33% cash of which in conventional banking out of total asset (cash in Islamic account excluded in calculation.) In that sense, hng33's suggestion is not unreasonable... But I think the more important thing right now is to have Puncak announcing a date and amount to be paid out as special dividend!
BN_menang, interesting idea, due to a 'possibly' delay in special dividend, even when Puncak share price is trading at 25% discount to its cash position and totally ignore its other debtless asset, we should not buy in a hurry?
upsidedown119:Pre-budget sounded like bad news will come from budget. Anticipating such roller coaster ride? How will Puncak be linked with the budget, I wonder? Anything to add?
hng33, just saw the KPS deal to sell Selangor water asset. The whole deal manages to clear KPS of debt but the net asset per share actually drops. Its nothing comparable to what Puncak is getting leh...
As mention ealrier, kps have two water concession and take over involwve 2 phases. First phases, disposed Abbass, become debt free and in net cash position while still retaining recurring earning from splash, annual eps 20sen.....second phases, if disposed splash at 1 x book value, then kps become cash rich.
Kahhoeng until announcement of dividend ex-date further delay of special dividend is not impossible. Having said that should Puncak drop low enough(your guess) buying support will return.
No big selling vol by EPF and LTH means dividend date is forthcoming next week or this Fri. Two weeks max, Rozali has to inform Bursa what he is going to do with Sale proceed ( Not Ah Pek company ) Firing all 4 cylinders--Get Ready
epf is no longer substantial shareholder owning more than 5% and no longer required to report any purchase or disposal. I think lth holding is much high n serve no purpose selling now, particularly when its holding so much cash...
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
jacklintan
1,722 posts
Posted by jacklintan > 2015-10-21 21:30 | Report Abuse
Roger123: Congratulations! What other stocks are you looking into? Mind sharing? I give a shit.