rMoi, please copy and past on the above I have just typed in so I can simply send it to SC. Of course, if you are OK with my proposal, then there's no need for us shareholders who have tendered our shares for 2.50 capital repayment to worry over TRIPLC deal. If you want it as another option, then please add to it.

Schedule and purpose to meet SC on Puncak Niaga:

1. kahhoeng FREE Feb 15 - Feb 28;
Capital repayment of 2.50 (or any other reasonable amount SC can assist in proposing) in exchange for share

Could you guys add on this? Thanks!

My apology, I was told I can get in touch with SIDREC on this matter, misrepresentation of analyst report and would like to lodge for compensation. I was not told that I am entitled to compensation. Whew, think my earlier post could have offered wrong understanding.

In addition, I have asked him over CIMB's analyst report over Puncak. I have asked if I may seek compensation since they have simply ceased coverage instead of issuing report identifying their mistakes and apologize. I was told yes and was asked to get in touch with SIDREC. May I know if any of you is using CIMB trading platform and has invested reading CIMB's report on Puncak? Probably would have work better if we approach as a team.

Dear all, I have spoken to the SC and was given the following advice:

1. We need to be clear of our purpose meeting SC - I have told him that some in this discussion site has proposed resolution but not yet firm on what to seek while I am still firm on what I want, i.e., a capital repayment of 2.50 in exchange for our shares to those investors concern over Puncak's latest developments. Anyhow, any suggestion? Is my request reasonable and agreeable to all?

2. On appointment date and time - I was asked to give them a few option and he will approach his management team to look into a time that will suit us while they will be free. I am suggesting around Feb 15 - Feb 20. It's right after CNY. If we request for a date that's too late, we maybe too late to stop any bad deal...

To those who won't be able to attend, may I suggest you calling SC up right before the meeting and discuss with the person that I am getting in touch with right now? Will let you guys know whom I have contacted after we have addressed the above.

To those interested, could you copy and paste with your username included?

Before discussing it with SC, may I know how many of you are willing to meet up with SC to discuss minority shareholders concern?

1. kahhoeng

quite frankly, I am quite firm I WANT a 2.50 capital repayment to minority shareholders who wish OUT... Will inform you guys if I would be able to secure an appointment with SC given that I am not yet comfortable with approach lawyer for a resolution. It would be difficult to have it if LTH decides not to back us minority shareholders while Rozali is already holding 40+% shares.

I will try to call up SC tomorrow to see if I can make an appointment for all frustrated minority shareholders of Puncak Niaga instead of appointing a lawyer to represent us in the case given that one of SC mandate is to protect minority shareholders (or, was I wrong?) I am still preferring a cash option in exchange for share to those shareholders, including me, who have gotten scared of how the board has represented us during the past quarters while the cash in the in the company.

I have not been able to get in touch with LTH for a discussion so far, will try again Monday. Will try to get in touch with SC to learn the process on when and how would SC be able to assist minority shareholders given circumstances. Do they need a hundred marching into SC office before they would seriously looking into how to defend minority shareholders?!?

stockraider, agree, but market or SC seems to encourage bully spirit but not animal spirit...

have to say firehawk has a point. Sometimes, I wonder what's the true spirit of capital market? Shouldn't we encourage proper functionality of capital market, encouraging right kind of attitude to build rather than having some bullies forcing market participants to accept whatever terms these bullies forced upon others?

I bought before Azmin taking over and I didn't bail during the negotiation believing in Rozali's team. Guess trust is only when someone is cash strapped!

I sold almost all of my other shares and increase leverage ratio to add, that's why I'm so pissed! I have initially bought out of concern over commodity cycle heading south and thought cash company is the safest. Rozali has a record of share buy back and dividend. Never realize he's such a ... once gotten cash rich and ignores all his minority shareholders

I bought some at .895-.90, 1.05-1.07, 1.12-1.15, 1.22-1.25 those are for trading purposes, primarily bought due to concern over board's crazy deals that might have unrepairable damage to company's balance sheet and profitability (average down?).

To all,

Carl Ichan has a lot of connections and money, I don't. I will try my best to get in touch with LTH, given that it's the only fund holding more than 10% of Puncak and can have an impact. As much as I wish we can have a way to address the Puncak current board, if we were to roll out any resolution and Rozali can vote on it, we will have little or no chance of having it passed. That's why I was hoping to urge and pressure Rozali into giving out capital repayment option to concerned shareholders on recent deals a way out.

Just ask for 2.50 capital repayment in exchange for privatization. Who cares how much Rozali want to take in as salary if its private? Get back our money is far more important now given plantation and TRIPLC deals...

Don't think Rozali care at all... Best direction for us minority shareholders is to push for a capital repayment in exchange for our exit unless Puncak. He can keep Puncak with free lands and properties for his years of service in Puncak majority holding.

I will try to approach LTH this coming few days, see if they are keen to meet and negotiate a way to address this. Best if Rozali offering approximately 2.50 to take Puncak private through capital repayment.

I have another two friends who have purchased Puncak 'thanks' to me... Sigh, felt so bad, not going to recommend people buying shares in the future.

firehawk, that's why during the AGM, I have requested Rozali to buy back shares using 200 million reserve. I didn't ask for the unreasonable. Yet, not only is it ignored, he has shitted us with garbage quarter results (he has mentioned no more surprises during AGM) and garbage deals (he has mentioned the 1.2 billion has strict regulation.) I would be an idiot if I don't fight for a capital repayment of 2.50 in exchange for share.

Err... value trap a technical term for mafia and ponzi?

OSK is holding asset, Puncak is holding cash. One can say asset is hard to value, but when cash is hard to value? That's why I ask if this is a Ponzi, mafia or black society market...

it's a real shame to the market regulators when a company with a 2.50 cash traded at 0.92 and yet its a betting and not an investing. Ponzi, mafia or black market?

firehawk, fight for capital repayment of 2.50 in exchange for share doesn't mean that you will get it. However, if you don't fight for it, you will definitely NOT getting it! Buying Puncak now is risky, but selling now is crazy too. Puncak at around 0.90 has priced in all troubles but not opportunities. There is not telling if the price is manipulated, but the BOD's inaction is what pissed off minority shareholders and a fight for capital repayment is warranted.

Fight for capital repayment of 2.50 in exchange for share

BJCorp's annual report falls on April of each year while the Vietnam Toto is launched in July. Thus, if there's any contribution from Vietnam Toto, it could only be felt beginning quarterly earning Aug-Oct. If there's a healthily consistent show of increased from in BJCorp financial results in coming quarters, that should in a way suggest the earning potential of Vietnam Toto to BJCorp. My guess...

If I vote NO, there's still chance 2.50 cash is still there... like I said, if Rozali so confident about the value, honor a 2.50 capital repayment in exchange for share to minority shareholders. He can laugh to the end at the expense of us leaving the boat at a big discount to book value and forgoing such a 'great' business opportunity

Jay, were you sent by Rozali or investment banks trying to push through the deal? You are full of craziness... Puncak has a net asset of 3.41 and cash of 2.50 NOW before any plantation deal or TRIPLC deal being completed. If Rozali don't want to give 2.50, give the company to me, and I will give 2.50 to every shareholder after I appoint asset management company to sell off Puncak's other businesses and lands+properties. I believe, after paying everyone 2.50, I will be left with at least 0.50 per share from garage sale, that's RM 250 millions easy money! I'm not greedy, if Rozali want to push through the TRIPLC and plantation deal, let me GO by capital repayment of 2.50 in exchange for share.

rMoi, I did three, call email and meeting, not sure can post his name though

How much I hope bjcorp can inform us how it's profit is linked to vietlott's

Without fight, surely no chance of a capital repayment cash out option, with a fight, who knows?

steveooikp, focus on the balance sheet and the deals announced, so long companies are run properly, share price will reflect soon... in Puncak case, we, minority shareholders, have to voice out to have the chance to exit Puncak through capital repayment of 2.50 per share. Attend EGM together, voice out together!

steveooikp I intend to hold at least 95% until EGM, the other 5% has been mainly for trading purposes, and ask for cash-out option for minority shareholders that includes me.

jay, I am a Puncak shareholder, and frankly, I don't want Puncak to buy TRIPLC, I would rather Puncak taken private at 2.50 per share or, even better, have the whole company liquidated, at least 3 per share...

so another 1 dividend and traded at 0.10 per share after deal with net asset per share of 2.40? I don't want another 1 dividend, I want OUT!

steveooikp, Puncak has cash per share of 2.50, net asset per share of 3.41. I don't think my average cost of 1.80 is high. The problem is how the board has responded so far to market concern!

cheoky thank you for your support, would be even greater if you could attend the EGM to protest. I used to give some reservation due to our quality board, but Puncak is really puncak in this, blatant disregard of minority shareholders interests despite strengthening in Malaysia securities regulation of the past decade. Has it not so mad at how the board has responded to shareholders concern, I would have kept quiet.

Just called Adrian of Public Investment Bank, the independent adviser of Puncak Niaga acquisition of TRIPLC. I have asked on what I should do if I would like to request for a capital repayment for minority shareholders disagreeing with the deal. He said he would get back to me. Public Investment Bank contact number is 603-2166 9382.

shouldn't we focus on the deals and the balance sheet? Once these two are in order, so will the share price. Fight to get a capital opt-out at 2.50 cash per share if Rozali believe the deals he has inched are good.

Don't know yet, we need to get the independent adviser report first before an EGM is called.

rMoi,

I could be wrong with Rozali disposing TRIPLC shares, cause I was not able to reconfirm of late through Bursa website. I could have misread other director(s)' disposal as his.

rMoi,

I have made official complaint to SC over two issues:

1. CIMB analyst report not based on factual information and an unwillingness to present a corrected version besides not replying my emails.

2. Concern over Puncak Niaga's pricey plantation and questionable TRIPLC deal (Tan Sri Rozali has been disposing shares of TRIPLC lately.)

If you have similar concerns, you can email: aduan@seccom.com.my
OR call 03-6204-8999 Investor Affairs & Complaints Department now before the EGM. It should help if there are more people calling SC up for help before EGM. Should we fail in our attempt during EGM, we shall call up SC to make appointment immediately.

stockraider,

good to know you have experience doing it but sad to know you are interested with the work in Puncak due to smaller investment. Having approached SC for my concerns already, I will stick to my plan to voice out in EGM. Failing which, I will ask minority shareholders participation to meet SC together, believing that numbers count when approaching SC. Just hope that minority shareholders here hoping to get it resolve will attend and support.

steveooikp, hmm... heard there's also some guy name Saiful can't shit for days for who knows what reason? Never realize Rozali is so hardworking for us minority shareholders...

stockraider,,

Seems you are familiar with the process, wonder if you have approached SC for that?
I think I needs sufficient number of minority shareholders to have any impact. That's why I am urging any of you to attend EGM to get Rozali's nod to cash option to concerned shareholders. If failed, we of all concerned shareholders shall approach SC together.

If we are only saying this and that here but never voice out, nobody will care how minority shareholders felt! Damn pissed off with how Puncak's board is doing so far.

there's actually uncertainty around the business deal with Vietlott. BJCorp can't reveal the revenue and profit sharing agreement thus far. There's no way to know how much BJCorp is benefiting from the Vietnam Toto deal... I am accumulating anyway, primarily due to improved cash flow from operation after completion of Menara Bangkok Bank and Kyoto Four Season and to be completed soon Ritz-Carlton Residences. With the completion of China property project sale and Jeju court case (hopefully a favorable deal, latest announcement in the quarter report is the judge agreeing to the appraisal of the whole project, yummy yummy), BJCorp debt load should reduce significantly and profits will begin to show after cost of financing reduced...

I want rozali to offer cash for share to minority shareholders at 2.50 in the egm, please attend to show support. Thanks

Puncak offer to buy at 210 million, there are 67.8 million shares of TRIPLC, that's equivalent to 3.10 per share.

it's full of joke, TRIPLC announced selling to Puncak for 3.10 per share, but the director is selling at way below that and the share price is now 1.87. Meanwhile, Puncak is trading at 0.895 while cash per share is 2.50. TRIPLC deal is to exchange share that's worth 3.10, but will minority shareholders be able to collect the 3.10?

hopefully we will see 0.47 before taking a break for the next high...