this is of course good news la. Change of boss from selangor to federal government, and Puncak is pro BN. And getting paid accordingly.

THerefore, base on above senario, we are buying into a company with a PE of 5-6 base @RM2.9, projected 2014 earning.

All, bad news has been priced in . Minimum downside, max upside, if SSG offer new deal

“In a sense, the minister or officers appointed by him will assume the role of chief water-production engineer whom the concessionaires will report to.

“In short, the water players in Selangor will just have new bosses. We will set the key performance indicators of their water production targets, quality control, maintenance matters and overall management, and they will be paid accordingly for the water,” Ongkili said.

hello people, i just bought KPS @ 1.65!

Rozali already do his homework one la. Of course he will see how other state like pahhang , kedah , Melaka take over the water conssesionare and how they value only reject the offer la

u mean sultan of johor? old news le

i am glad that puncak has finally found a bottom

built reservoir? SSG is not a construction company le..

gamuda surge because of the MRT project in sungai buloh. it got nothing to do with it's water asset

i seriously do not understand this counter. KPS accepted the SSG but price drop more than PUNCAK NIAGA. seriously, it do not make sense.

i feel like buying KPS. if it drop to 1.65, i will definitely do that

those that bought puncak-wb really cannot sleep at night!

i am here to make money la. where got like/love any stock? i dont love puncak. i only love money

my only concern is puncak might not reward the minority shareholder if even SSG offer of RM9.68 hold true

angelina, should i switch from puncak to KPS, since both also down... no harm switching

this counter also down. jialat.

I just hope the sell off will find base. SO that I sleep soundly at night

Highly likely that federal government gonna pay for the equity portion so that they will manage and produce water

KUALA LUMPUR (Mar 13): The federal government will take over production and management of Klang Valley water assets if talks between the Selangor state government and concessionaires reach a deadlock.

Energy, Green Technology and Water Minister Datuk Seri Maximus Johnity Ongkili told reporters at the Parliament lobby today that this was in accordance with the Water Services Industry Act (WASIA).

"The negotiations were given until March 10 to complete but failed to do so and was given a grace period of another three months for the final restructuring of the exercise," Ongkili said.

Water concessionaires involved are Syarikat Pengeluar Air Sungai Selangor Sdn Bhd, Puncak Niaga Sdn Bhd and Syarikat Bekalan Air Selangor Sdn Bhd.

KPS accept also useless le, water consolidation asset cannot happen unless ALL 4 conssesion agree

6.4Billion is day light robbery le.. i dont think rafizi will make these kind of statement

!b less so is 8.67 billion?

The federal government had, on Feb 26, said that it would inject RM2bil to help Selangor take over the water companies. It is likely that the top-up fund would now be used to pay for the equity portion of the acquisition.

Roger,

of course puncak boss angry la. instead of getting any further compensation, puncak is forced to accept latest SSG offer.

secondly, why would federal govern help selangor (opposition). now SSG look so good infront of rakyat save RM2 billion.

Do you think federal government will let SSG look good? then BN will not have any chance to get back selangor next election

My take on this issue:-

Selangor pay RM7.68 billion for asset
Federal pay RM2b for equity

therefore, WASIA enforced at RM9.68...

Puncak target price RM3.8-4.1

angelina, please read first , khalid himself say that now Khalid today explained that with the federal government invoking Wasia, the state will only pay the value of assets taken over and not equity value of the three concessionaires who refused the deal.

so your statement is not correct

Khalid today explained that with the federal government invoking Wasia, the state will only pay the value of assets taken over and not equity value of the three concessionaires who refused the deal. - See more at: http://www.themalaymailonline.com/malaysia/article/khalid-putrajaya-intervention-may-save-selangor-rm2b-in-water-deal#sthash.jteKPDzo.dpuf

but equity portion is 2.7 b only
less than water asset of 5.7 b

where selangor get RM7.68 bi?

people do not like uncertainty.

tonight federal and state going announce either:-

1. top up then WSIA
or staight away WSIA.

eighter way, nothing to lose.
worst case senario 9.68billion minimum

P SPEAKS The federal government has failed in its promise to ensure that privatised water concessionaires in Selangor accept the acquisition offers made by the state government.

They had been given up to yesterday to respond to the renewed acquisition offers made by the state government for the purposes of consolidating the water industry.

The renewed offers were made as a consequence of the Memorandum of Understanding (MOU) signed between the federal and Selangor governments on Feb 25.

Yesterday, three of the concessionaires - Puncak Niaga Sdn Bhd, Syarikat Bekalan Air Selangor (Syabas) and Syarikat Pengeluar Air Selangor Holdings (Splash) - announced to Bursa Malaysia that they have effectively rejected the renewed offers.

While Splash rejected the offer outright, Puncak Niaga and its subsidiary Syabas, said they were willing to “consider” the offer subject to several conditions which are unreasonable.

Their stipulations include:

(i) a higher return on equity of 15 percent instead of 12 percent;

(ii) full payment of the disputed compensation for the non-increase in water tariff hike by the state government;

(iii) rejection of due diligence by the state government on Puncak Niaga and Syabas assets; and

(iv) rejection of international arbitration in the event of disagreements over the appropriate return of equity.

Hence, the state of the water industry restructuring has returned to Square One.

Only one company has accepted the offer - the state government's subsidiary, Kumpulan Abass.

The state government had shown goodwill and willingness to cooperate with Putrajaya to resolve the critical water crisis by signing the MOU, witnessed by Prime Minister Najib Abdul Razak himself.

Selangor even agreed to immediately approve the development order for construction of the Langat 2 water treatment plant project. All other required approvals such as land rights, access permissions and other permits are to be granted within 30 days of the MOU being signed.

However, the federal dovernment has failed to cajole the three concessionaires into accepting the offer.

Since the BN government has failed to live up to its end of the bargain, the Selangor government no longer needs to grant all the additional approvals required by Langat 2.

To ensure that the MOU remains intact, it is now up to the federal government to announce its commitment by announcing that it will immediately exercise all its powers under the Water Services Industry Act, particularly using Clause 114, to compulsorily acquire these water companies, based on the compensation model detailed in the concession agreements.

In the meantime, the Selangor government via its Executive Council and the state assembly, should exercise all its powers enshrined under the laws of the state and the federal constitution to deny any further licences to the relevant federal government entities for the Langat 2 project. Without these additional approvals, the Langat 2 project cannot proceed.

The Pakatan Rakyat administration and government will not be cheated by the federal government. We will not betray their trust of voters and will fight tooth and nail with Putrajaya to ensure that the interests of the Selangor residents are fully protected.

TONY PUA is the DAP’s member of parliament for Petaling Jaya Utara.

This counter also cannot go down more than 2.60. Means, limited downside with maximum upside! Warren buffet theory of investment!

Mr. Koon, I believe in you. Since you are the founder, and know this counter inside out. This counter is gonna shine in 2014

I don't think got contra player here. price has been in the range of 3-3.50 for 6-8 month now!!!

must be OCBC disposing. biasa la. all these oversea fund always sell on friday

most O&G also down la. chillax abit

general market downtrend

hello people. i m in daya boat now!!! bought 270,000 unit @ RM0.41

price rallying now

i do not want to assume o and g business.
most important is Puncak will receive RM1.5 billion against enlarged share cap after convert of warrant = 532.5 million share

1500/532.5 = RM 2.81....

sorry, not USD. it suppose to MYR.

h

saw in thestar,

federal government will take over water asset PLUS THE LIABILITY of RM7.68 billion tied to the asset. which is the same as last november offer. but this time, they will take over the liability.

so the senario is very near to RHB bank analysis that Puncak will receive RM1.5 billion and hence target price of USD 5.22!!!

why want to sell off!

puncak just only receive letter from KDEB. only part one of the deal.

Federal government not send letter yet. Wait for Government to send letter la

losing steam. what happen?

no post, no activiy and no price movement. SIEN x 100

takaful declared great result. Will P&O follow thru?

so many seller of thheavy. volume gonna approach 20 million unit. who the bloody hell is the seller?

Is this a tok Kok thread?

Will the price fly on Monday?

motor tariff increasing soon. any positive impact on this counter?

lao sai again. when gonna stop diarrhea?

Can i download from other source. I don't have twitter

i boarded this boat today! mother @ 0.47