Puncak is clear winner to acquire triplc for '2 free long term concession' that last 20 year and 22 year respectively. It will turn Puncak in profit making after take over triplc, revive it into positive EPS onward for next 20 year by just sit tight and laugh all your way to the bank with annual free cash profit RM 12m pa through 20 year concession period + 60m pa for 3 year (fair value recognized on construction Zone 1 Phase 3, follow by RM 25m pa free cash profit for following 22 year concession period
, whereas, triplc need to push for special dividend after net of cash RM 3/share or secure secure another new concession again. Triplc have VERY good track record to secure Gov contract. These is the fact that it still intend to retain its listing status. There are many gov contract based on concession available to be allocate to 'bumi' company, a Malaysia style.
Rozali sapu Rm 17 million salary a yr from Puncak....the minicule profit from triplc just not enough to contribute to his salary mah..!!
Rozali also sapu from puncak...for it to get PEB listed by getting puncak to pay for the listing of PEB mah....!!
Rozali...also sapu from triplc shareholder....but paying them a useless listed shell cash company....where they can see the cash but cannot touch loh...!!
I guess you have sold your puncak just now for few sen profit lor... now hope that puncak will go down for your to collect.... earlier you said different story leh..... you don't be like that lah.... like 2 headed snakes..... like that no good lor.... looks like MO1, sound like MO1, act like MO1, but is not MO1....
Puncak is wise enough also to acquire entire triplc company instead of just its concession and assets (triplc original shareholder will change into new shelf company PEB to be assume triplc listing status).
These move is excellent as by acquire whole triplc, Puncak also assume all triplc staff, engineer, construction expert, all become wholly own by Puncak.
These expertise from triplc can be use to leverage up to help Puncak current construction unit to revive its bad shape into profitable business. Puncak can capitalize on triplc enginerr by using own engineering in-house to execute contract instead of sub-con into outsider poor constructor, which is main reason for Puncak need to make huge provision in earlier q result, turning Puncak into big loss.
hahahaha, i definitely give double thumb up for Puncak to acquire triplc for RM 210m which is solid back by its surplus landbank fair value gain RM 190m with attached almost RM 0 cost to get another 2 FREE longterm concession with annual pre tax profit RM 12m for first 20 year concession period + another second concession which is still under construction, to be reap 60m pa for 3 year (fair value recognized, follow by estimate another pre-tax profit RM 25m pa for next following 22 year concession period...... wow:)
I know 1 thing... RZL is very hardworking.... RZL -- 1 person works in 3 companies... Puncak, Triplc and PEB. our govt only encourages us to take up 2 jobs to cover our daily expenses and high inflation. RZL holds 3 jobs... must learn from him
Landbank? Rm190 m for leasehold land? All people knew property is oversupply now. Who wan to take the risk to develop the land. Rm190m only nice to see but cant touch. Like wat happened to puncak now
I can quote the land worths only rm50m n u can quote the land value is rm300m. Rm190m land value which someone offered last time is only wayang kulit show to comfort puncak shareholders that is worth to buy. If i am rzl, i wont buy my own company. I will buy a new business so i can earn mote. Now rzl is just pass the business from left hand to right hand. Make no difference. But from the process he can earn 'commision'-the hidden transavtion fee.
Wow...hng33 suffers a terrible beating today...kana Prlexus, then jump into Triplc & Puncak to suffer triple whammy....you should stop trading after a big loss, hng33!
puncak still ok lah... hng33 average is 96 sen....
not expensive....
as for triplc.... hng33 has aldy made money earlier.. and this morning I think he has sold his cheap batch triplc... and later he then jumped in with his profit....
He cut loss at 1.41 on prlexus and bought in puncak at such low price. When puncak price move forward than rm1, he can sell and buy back at.lower price of prlexus again...
If Puncak's acquisition of TRIPLC is so good and wise, share price would have risen to reflect the news. Unfortunately, the acquisition, if based on the market's perception, if not a terrible one, will be an mediocre one.
Puncak is holding 290 acres of land in Selangor, of which 250 acres in Kuala Selangor. If it can't even roll out a plan after so many years after purchase or months after selling of water business, how would additional acre benefit Puncak?
If Puncak's willing to pay premium to acquire plantation and construction company, why isn't Puncak willing to buy back shares, which is at 36% of company cash level or 27% net asset level?
You are trading to seek short-term gains on Puncak, but when you sell at premium, someone has to buy and hold. Apparently, there isn't much interest in the market now.
I was wondering if you have looked into TRIPLC's financial reports to justify if the acquisition is fair to Puncak's minority shareholders. Without going into details, based on TRIPLC's annual reports for the past 2 years, operating cash flow didn't exceed 20 million while it has investment and debt servicing needs. Having to pay 210 million for this deal, Puncak has to spend more to rather than benefitting from the operating cash flow, not to mention if the 20 million cash flow is sufficient for Puncak current asset base.
Frankly, can only hope SC or LTH will intervene to require Puncak board offering cash out option, approximately 2.50 per share, to minority shareholders not buying the rosy picture Puncak board is trying to present.
kahhoeng to hng33, If Puncak's acquisition of TRIPLC is so good and wise, share price would have risen to reflect the news.
Hng33: Now u see? There is no price reaction for puncak to the acquisition of triplc. The price from this morning to 0.94 because of me. But there are too many sellers kept selling. If the acquisition is good, there wont be so many sellers. There should be buyers joining me. But y no buyers?
Puncak doesn't have property arm to develop its own landbank, but, through acquire whole triplc, Puncak can leverage on triplc construction expertise as well as ts property arm to develop the lanbank. With cash rich Puncak as backing, triplc can due to develop lanbank which previous intend to sell to worldwide, a subsidiary of selangor state gov. Property development can extract higher value than sell outright landbank even at market price. By develop it in stage, these few hundred arcres of lanbank can sustain profit for many year forward.
Take note Puncak previous q result loss in construction is mainly due to poor execution subcontractor, resulted delay, breach of contract and cost overrun. Puncak have prudent make provision ahead for forseeable loss due to cost overrun. These condition can in future avoided after Puncak acquire triplc, which possess excellent track record in construction, Puncak can just appoint triplc as in house contractor for its future contract.
Do u think triplc has such experts as well? If triplc has such experts, u can counter offer the team. This is much cheaper than u acquire the whole company and paying for the goodwill
Triplc will have net cash RM 3/ share, and expect special dividend just like previous Puncak did. Of course, I will lock all profit once triplc declare special to sell on news again :D)
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....
rogers123
4,018 posts
Posted by rogers123 > 2016-12-19 13:26 | Report Abuse
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