Highlights
KLSE : PUNCAK       PUNCAK NIAGA HOLDINGS BHD
Last Price Today's Change   Day's Range   Trading Volume
3.35   +0.09 (2.76%)  3.25 - 3.36  258,800

Overview

Board:Main Market
Sector:Infrastructure
Avg Volume (4 weeks):640,494
4 Weeks Range:3.05 - 3.40
52 Weeks Range:2.74 - 3.76
Average Price Target:3.74
Price Target Upside/Downside:+0.39
View Price Target Detail

Headlines

Latest Headlines
02/10/2014  Water Utilities - Deal Finally Sealed
23/09/2014  Four firms in Kepong incinerator shortlist
22/09/2014  Puncak wants to offer its expertise to other states and overseas
22/09/2014  Construction Sector - 4 shortlisted for Kepong incinerator OVERWEIGHT
15/09/2014  Water Sector - Fed and state seal the deal NEUTRAL
22/08/2014  Puncak Niaga - Maiden contributions from Pan Malaysia job HOLD
22/08/2014  Puncak Niaga Holdings - Still looking to close the deal
22/08/2014  Puncak Niaga Holdings Bhd - Patience Pays
22/08/2014  Puncak Niaga - Within Expectations
13/08/2014  Puncak Niaga to bid for RM800m controversial waste-to-energy incinerator?
13/08/2014  Puncak Niaga - Bidding for Kepong incinerator job HOLD
13/08/2014  Maybank Research Highlights - 13 Aug 2014
10/08/2014  雪水務整合路還長
05/08/2014  Puncak Niaga - Shortlisted for Pengerang contract HOLD
03/08/2014  南亞紅股幾時發出?
01/08/2014  Puncak Niaga signs water deal with KDEB
01/08/2014  Puncak Niaga - Signs water extraction agreement
08/07/2014  Water Sector - Selangor to maintain offer for SPLASH NEUTRAL
30/06/2014  Trading Stocks - 30 June 2014 - MPHB | Magna | KSL | Premier | Puncak | Power Root
27/06/2014  Merger and Acquisition: The Brilliant Water deal

  9 people like this.
 
sunztzhe kahhoeng, Please don't haha too soon. I have the following questions to ask you and the questions are very simple
"Do you personally know the CEO and owner of Puncak?"
"How much do you know on who actually owns how much in Puncak?"
"What has Puncak stated and documented on what Puncak will do with the cash that it receives?"
"Has Puncak stated publicly that it will declare certain dividends $$$ upon receiving the cash or it is merely your own speculation or your own expectation?"
24/10/2014 00:55
kahhoeng Hmm... sunztzhe, care to share? All I know the two biggest shareholders own between 50 - 52%, with lth buying up the most of late. Proceed from water asset sale should amount to 3.00-3.30 per share. Net cash per share after sale is not clear, probably between 3.00 - 3.50. Most analyst reports suggested between 0.25 - 0.60 dividend,i m hoping for 1.00 - 1.50, too ambitious?
24/10/2014 10:09
mbge7clt hope you are right! ha..ha... the more the merrier... but knowing corporate Malaysia always keep some for themselves...
24/10/2014 22:00
kahhoeng well, we have to judge for ourselves if what was said has merit.
24/10/2014 22:18
sunztzhe The new normal is already here--> Crude Oil price + or - USD 80
How will PETRONAS decide on their future CAPEX? Focus on shallow wells or go for costly deeper wells? How will this impact on PUNCAK Oil & Gas future business??
24/10/2014 23:10
longterminvest hahaha sunztzhe...
25/10/2014 00:09
kahhoeng suntzhe, at current price, the o&g part of Puncak businesses is basically priced at 0, hmm..., assuming I am right about its asset value and quality. Though, unless Puncak board is speeding up the water deal and clearly states how the cash from deal be spent, doubt there will much price swing (up, hopefully).
25/10/2014 19:17
sunztzhe kahhoeng, With the new normal crude oil price of + or - USD 80/barrel, do you expect more or less capex from PETRONAS and other Oil majors going forward. The new normal price in a secular bear crude oil market will last for years as the increasing supply from Libya n US shale oil is causing the Oil glut. So the prospect for CAPEX UPSTREAM will be cut and will diminish and will lead to a global industry shakeout that may last easily 3 or more years. Premiums for future offshore services with PETRONAS will evaporate and the price premium enjoyed by service companies in the past will not recur in the future awards.

The current T&I project will soon be completed by Dec 2014 or early 2015.Has Puncak won any new T&I projects in the last 3 months? Has PETRONAS announced new UPSTREAM CAPEX lately since the crude oil price crashed to USD 80/barrel? I think most Oil majors including PETRONAS will reconsider or cut future CAPEX for UPSTREAM.

UPSTREAM Oil & Gas services was the darling for past 3 years when crude oil prices was USD 110 per barrel. It is no longer the case now with crude oil price of + or- USD 80 /barrel which will last for years in the future. If PUNCAK does not secure new T&I projects, it will incur recurring costs n incur future losses. In that case, Better focus on KPS where the cost for raw water is ZERO
25/10/2014 20:03
kahhoeng sunztzhe, will take your viewpoint into consideration. Though, I suppose it would be safe so long Puncak share price is below 3.80. Current share price seems to reflect only its Selangor water business to be sold to the government. We have yet to know what asset will be returned to Puncak for not being related to Selangor water business. And, I suppose its other water businesses should carry some value, in addition to its o&g business that may result in losses or fail to secure projects in the future.

Truth is, the way I look at the o&g industry, the demand is still there, just that the growth has slowed. So long Malaysia o&g has a cost structure that's below 70, we should be safe, so is Puncak. Puncak's o&g business may no longer as lucrative, it's not running out of business. If this part of business is valued at a PE above 15, I would be worry. Given 0 valuation, I suppose its safe.
25/10/2014 23:31
sunztzhe kahhoeng, The new normal price of crude oil at + or - USD 80/barrel would force an industry wide shakeout. We are just at the cusp of a new beginning of a global industry shakeout. UPSTREAM service providers will also be impacted. High capex projects for deep wells with production cost of USD 80/barrel is not economically feasible anymore. Major Oil & Gas companies had already made that decision. The UPSTREAM OIL & GAS SWAN had suddenly become an UGLY DUCKLING.

There will be also a shakeout of the upstream SERVICE PROVIDERS AS WELL.
25/10/2014 23:42


 

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