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 Share on facebookShare on twitter Printer-friendly versionSend by emailPDF version tKUALA 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.
If PE is your criteria, Salcon is not meeting your criteria at all for the time being. There is a good reason that Salcon fails in PE if you read thru the history of the company earning of the last couple years where the main source of income has been disposed in exchange for plenty of cash on hand.
Anyone knows about status of water disposal agreement? I have been searching the announcement by the china buyer, no extension nor abandon being announced by the buyer....
From MI, Meanwhile, Azmin said that the state government was still waiting for word from Putrajaya on their request to meet and re-discuss the Selangor water restructuring plan.
"I wrote to the Yang Berhormat minister asking for a meeting," he said. – April 11,
Looks like the recent hype up is for directors to sell their holdings...
Aiiya, this director have so little shares compare to total share base, let him dispose loh, cud be many reasons, he wanna cash out with big chunk of profit to go for vacation,buy Patek phillipe watch etc etc, I also take profit by stages loh, I oso throw my 0.58 shares at 0.855,
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....
king555
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Posted by king555 > 2015-04-09 09:53 | Report Abuse
salcon waiting the news of Selangor water restructuring plan..If today good news come out,0.90 shouldnt be any problem.