kahhoengsold all my puncak for wa already, not really attractive if you look at the spread of its warrant... buy only at 2.16, sell at 2.10
sudahkenaMaybe fed need increase offer to splash.. then pkr will shut up
hng33The current take offer price for water treatment plant and their respective treated water capacity in milion litre per day (MLD)
1. Splash treated water capacity: 2000 MLD Splash control by Gamuda 40%; KPS 30%: Sweet Water Alliance, Wan Azmi: 30%
(a). Take over equity price now: RM 250.6m (total assets and liab: 1.84 bil)
(b). Take offer price in 2009: RM 1.56 bil (total assets and liab: 2.98 bil)
2. PNSB treated water capacity: 1900 MLD Wholly own by Puncak
(a). Take offer equity price now: RM 1.18 bil (total assets and liab: 2.91 bil)
(b). Take offer price in 2009: RM 620m (total assets and liab: 1.936 bil)
3. Abbas treated water capacity: 530 MLD KPS control 91%
(a). Take offer price now: RM 99m (total assets and liab: 990m)
(b). Take offer price in 2009: RM 125m (total assets and liab: 946m)
4. Langat 2 project, Selangor portion cost RM 3.6bil for water treatment plant under phase 1, to build 2 water treatment plant, each 565 MLD capacity, total 1130 MLD. If take into account cost of construction to build 44.6km tunnel link Pahang to Selangor and construction dam in Pahang at cost RM 5.05 bil, then, total Langat 2 project cost is RM 8.65 bil.
(a) Capacity: 1130 MLD (phase 1, ready by 2017 (b) Capacity: 760 MLD (phase 2, cost pending til after phase 1 completion)
Total langat 2 treated water capacity is just 1890 MLD.
Remark: Langat 2 total cost RM 8.65 bil is 4.7x more expensive than to acquire splash for just RM 1.84 bil or if exclude tunnel/Pahang cost, court only two new water treatment plant, each 565 MLD capacity, cost RM 3.6 bil is still almost 2 x higher than splash and yet the total treated water capacity is just 0.57x than splash
hng33What i like to highlight here is that water treated from Langat 2 will be very expensive, even with leaseback for 45 year, it need to cover cost of construction either just from 2 new water treatment plant in selangor portion with each 565 MLD only for RM 3.6 bil + perhaps the water traffic also need to cover cost to build 44.6 km tunnel cost + Pahang portion cost + 10x higher raw water payable to Pahang than source from Selangor.
Comparing to existing water concession, they actually can afford to wait little longer if the take over price is no attractive. State rush to take over exiting water concession is try to neutralize partial future water traffic hike impact once the upcoming expensive Langat 2 is ready in 2017.
kahhoengseems like the fed is trying to hide the details of Langat 2, wonder who is benefitted from this?
Type of transaction Date of change No of securities Price Transacted (RM) Acquired 14/10/2014 215,500 Acquired 15/10/2014 500,000 Acquired 16/10/2014 500,000
Circumstances by reason of which change has occurred Purchase of shares Nature of interest Direct Direct (units) 40,333,700 Direct (%) 9.76 Indirect/deemed interest (units) 0 Indirect/deemed interest (%) 0 Total no of securities after change 40,333,700 Date of notice 20/10/2014
hng33Water deal stays but make terms public, says Azmin
Selangor Menteri Besar Mohamed Azmin Ali will not revoke the water agreement between the state and Putrajaya, The Star reported today.
In an exclusive interview, the daily quoted Azmin as saying he wanted to see a more efficient and quality water supply in Selangor.
"I am not going to revoke the deal, I want the exercise to be completed as soon as possible so that the people can have enough water."
However, he said he would pressure Putrajaya for full disclosure of the water deal, which also includes the construction of the Langat 2 water treatment plant.
"I cannot defend the decisions taken for the water deal if I cannot give an explanation to the rakyat about the terms and conditions of the agreement," Azmin told The Star.
The agreement, which Azmin's predecessor Tan Sri Abdul Khalid Ibrahim signed with Putrajaya, has been classified under the Official Secrets Act 1972.
Since taking office, Azmin has said several times that he would request the federal government for a full disclosure on the grounds of public interest.
On Monday, he asked Attorney-General Tan Sri Abdul Gani Patail to explain why Putrajaya refused to declassify the water restructuring agreement.
Azmin said his staff had yet to receive an official letter from the Energy, Green Technology and Water Ministry, and wanted reasons stated in writing as to why his request was rejected before taking further action.
"The federal government must explain why it was rejected since this agreement is not an issue of national security.
"It is only a business contract between two parties, why must it be hidden?" he said as quoted by The Star.
Azmin also told the paper that he did not intend to be a "stingy" MB as his predecessor Khalid was reputed to be.
"This is not my money, it belongs to the rakyat so it has to be spent wisely," he said, referring to the RM3 billion surplus in Selangor's accounts.
Azmin said he intended to spend on infrastructure maintenance and cleanliness in Selangor.
"Selangor receives about RM500 million annually from Putrajaya to maintain roads and other basic infrastructure," Azmin revealed to The Star.
However, under Khalid, only 50% or RM250 million was channeled to local councils with the balance going into state reserves.
"From 2015, every single cent from Putrajaya must go to the local councils to maintain their areas," Azmin said. – October 23, 2014.