digiuser016, i think b'coz according the mb, the state gov wil pay 1.5+ b & paab will pay the rest together with all the debt totaling 5.5++ BUT the paab now didn't confirm the detail of the offer. So now that's left mb with his 1.5+b only...... my guess only.

to tell u all the truth, i'm really disappointed with it ... after many months of that said "discussion", they come up with a offer lack of planning and comunication, full of confusion and should hav mutual agreement with the other offerer before making the offer. U see, the offer is almost identical with the feb one, so some might think that this must hav been discuss & examine b4 but in the end, it's lack of detail and confusion hav fail it once more.... same like the last deal. For me it's a waste of time.

RESPONSE FROM THE SELANGOR STATE GOVERNMENT
Upon KDEB’s referral of the issue raised by Puncak to the Selangor State
Government, the Selangor State Government ie the Menteri Besar of Selangor
had responded vide letter dated 28 November 2013 to Puncak that the claims by
SYABAS on the tariff compensation arising from the failure of the Selangor State
Government to gazette the new tariffs are currently still being heard at the Kuala
Lumpur High Court and as such, the Selangor State Government is not able to
give any confirmation on the payment of the said compensation

my suspicion is spot on.... the tariff and the receivable due didn't calculate in the deal... good news is the deal must go higher for it to succeed, the bad news is, the amount might be out of reach by the state gov.....

don worry, if rejected mean the valuation not fair which mean.....$$$......

lengleng, wat is the prediction 4 u for this share tomorrow. My imagination is if the deal collapsed, share price might go down to as much as 3.00 & if the deal accepted the share might go to at least 3.6 - 3.7, so it's up to u. Hope it's help.

my opinion is if the deal collapsed,the fed gov & puncak is little effected but the state might 賠了夫人又折兵 coz they use the langat 2 project to try consolidate the water, but might end up losing both & face with the rising debt of the tariff compensation still disputed in court. For gamuda they might got effected too coz they're in discussion to buy kesas ( to replace water business, i guess) and as a construction com, the water problem may also delay the development of kl & sel which may effected them.

also i think maybe got chance for deadline extend, but depends on sincerity/determination of all parties involved if no agreement can been made.

as i suspected earlier, the deal lack info about the tariff and receivables due, according to the amesecurities . For me as a long term investor for puncak, this is a good news as the amount of takeover deal should increased but might take some time & agreement from both gov. For the contra or short term investor( especially the margin player), today is a crossroad them. But not all are doom as final confirmation haven't announced yet.

back to khsb deal, kps can't only obey to kdeb only coz hav other shareholder also. That's why the take over price upgrade from 0.76 to 0.83+

iafx ... i think that is possible but anyway tomorrow is judgement day.... be prepare everybody.

as i say... water business is puncak main income. It hav to get the best possible deal for it. It just like u r selling mausang durian and sweets and somebody want to takeover your durian business but the money u get only enable u to start a banana and sweets business only. U want to at least sell blueberry and sweets ma........

on the other hand.......... today all three major water share drop!

i think many people lost money that day.

last time kdeb wan to takeover khsb from kps and on last day of acceptance date, khsb shares down from 0.65 to 0.45, everybody though that kps not accept the deal... then that same day, kps announced that it hav accepted it..............

remember khsb anyone???

Let's think wat will happen if the deal collapsed...

For fed gov= since they set the "expired" date for a resolution of langat 2 at the end of 2013 and if no any immediate plan to revive the talks for consolidate of water happen, then as they hav been mention, they may resorted to court for the completion of langat 2. Langat 2 have completed 80% now so there's no other way other than to complete it. For the water restructuring, well, Mr Rozali is still boss of puncak & syabas and they'll get the payment of the loan back if syabas & puncak got their money back so there nothing to lose.

For state gov= Well, there's mayb a date in court between fed & state gov but 2 thing concerned me most, 1= the tariff compensation amount claim by syabas may continued to climb. 2=There's maybe a pressure for Dato Khalid from other party member to spend the state’s revenue well since water problem have delay some project and the promise to consolidate the water didn't materialize. The people will also affected for it. And the problem and accusation continue.

For puncak= I write about puncak coz i think the key for water consolidation is not gamuda( http://www.bursamalaysia.com/market/listed-companies/company-announcements/1220405 ) or kps, Water is puncak main core business & it's a lucrative one. With water consumption continue to climb, it's set to become one of the most stabe and profitable business around. The main problem for puncak & syabas is the dispute among the water concessionaries together with the state gov for various reason( tariff compensation, payment overdue, capex thing etc) that result in legal confrontation. So the fed gov loan kick in( for puncak & syabas). And it resulted in debt accumulation and revenue & profit fall. And if the dispute continue, the problem for cash flow may worsen especially for syabas. And the cycle continue. For the brighter side, the loan with the fed gov is a "manageable" one and puncak have recently won a court case for it's payment overdue. It's oil & gas business is also going smoothly and is set to receive more project including the lucrative Pan Malaysia T&I packages that maybe worth at least MYR500m p.a.( a packages). Pls note that current Pan Malaysia T&I packages is won by SapuraKencana & GOM ( 3 for SK and 1 for GOM) if i'm not mistaken. GOM is a fully subsidiary of puncak.

http://www.themalaymailonline.com/money/article/puncak-niaga-q3-pre-tax-profit-dips-0.5pc-to-rm7.9m

longterminvest, not one claims from the other...... puncak sue syabas, syabas sue selangor gov & they r related issue ( in term of payment). Yesterday puncak entitle to at least 1.5b from syabas which 30% shares is selangor gov.Syabas case against selangor gov involved around 2 b ++ i think. So i wonder whether these tariff payment+ interest/related payment already been calculated in the take over deal. That's my only confusion.

I initially thought that since selangor mb didn't recognize the tariff increase which result in legal confrontation, then perhaps he didn't include it in the takeover deal....well maybe be it did...

No longterminvest, i'm not confused. I'm fully understand that pnsb is pnhb subsidiaries and pnsb hold 70% of syabas shares... what i'm thinking is whether the debt calculated in the takeover offer included the puncak receivable due from syabas as announced in 25/11/2013 court order.

Ok .....then this court order is nothing to shout about loh..... aiya, i though the debt calculated is for the money owe to federal gov only...anyway it still a good news nonetheless.

T800 Sure or not ?well i didn't notice it and so do the guy from ambank, kenanga, cimb, rhb midf ..... Back to my earlier question= if it's no.4 then where the money will come from?.... we know that this court decision is related to syabas court case against selangor gov. Then do u think the federal gov will settle the debt on behalf of the state gov for syabas to pay puncak? Many answer still to answer but one thing for sure......... i think puncak got a huge huge potential.

iafx u mean all outstanding debt to be assumed by paab/state gov include the money that syabas owe to puncak?

Icon8888 u see , the order stated that once syabas have enough financial, then it have to pay it.So the question is, when? Ok 4 scenario 1= syabas won it's own court case against selangor gov. 2= when syabas accumulate enough profit to pay it . 3= borrow some more and 4= through the consolidate of the water bussiness. Ok now if it's no.4 then where the money will come from?

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1471261 ................... is't mean that the court order syabas to pay 1.6 b(at least) to puncak ??? $$$$$$$$$

How about tariff compensation?? As far as i understand, it didn't include in the offer.. syabas owe a lot of debt and one of the reason is the tariff not being approved & compensated by the selangor government which is now being disputed in court. The amount is atleast 1.6 b ( from 2009 to FY 2012 if i'm not mistaken ). This is the question need to be answer as if the M&A is completed then the government as the owner of syabas maybe can withdraw it's suit or if it win it, will entitle to all the compensation. If lose maybe only need to pay the court fee only.