Excellent, since Rozali can't vote in both TRIPLC and Puncak, lets make sure the deal can't go through...

firehwak, is your 'expert' refer to me? I have to wonder...

Are you a Puncak shareholder? Have you invested in Puncak because of me? I believe I was not wrong in valuing the company, and the balance sheet is still showing a net asset per share of 3.41 while its net cash per share is still approximately 2.50 per share. So, what's wrong if I believe Puncak should be valued between 2.30 and 2.80 the least to reflect its net cash and its land holding (it has over 250 acres in Selangor) that's debt free?

If you are not a Puncak shareholder, why are you so pissed here trying to remind 'expert'? If you are, why are you so pissed at the 'expert' here but not the 'expert' publishing expert view but with inaccurate data or majority shareholders sitting in the board not trying to assuage shareholders' fear?

Or, are you the CIMB analyst so pissed at me complaining to SC? Or, are you Rozali or his clan member so pissed at me complaining to SC?

If you are shareholder, exercise your rights rather than who knows what your intention here...

If you are merely trying to have fun over angered Puncak shareholders like me, wonder what you are...

Need to know what LTH has in mind... Puncak currently has a NA of 3.41 per share, of which approximately 2.50 CASH per share. I can only hope Puncak (with LTH fighting for it?) offering 2.50 to shareholders wanting out instead of joining his GRAND vision, since he has been so KIND to other shareholders but not his...

Congrats to TRIPLC shareholders, I am a shareholder of Puncak Niaga and I am pissed off by the deal. I will vote a definite NO in the coming meeting!

I will vote NO to the TRIPLC deal, good thing that Rozali is not allowed to vote!

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5292081

We refer to the Company’s announcements dated 18 April 2016, 17 August 2016 and 17 November 2016 in relation to the Heads of Agreement entered into by the Company and Puncak Niaga Holdings Berhad (“PNHB”) in order to facilitate discussions and negotiations for a potential disposal of the businesses of TRIplc to PNHB (“HOA”). On behalf of the Board of Directors of TRIplc (“Board”), Hong Leong Investment Bank Berhad (“HLIB”) wishes to announce that the Company intends to implement the following proposals:

(i) proposed internal reorganisation by way of a members’ scheme of arrangement under Section 176 of the Companies Act, 1965 (“Act”) comprising the following:

(a) proposed share exchange of the entire issued and paid-up share capital of TRIplc of up to 69,125,085 ordinary shares of RM1.00 each in TRIplc (“TRIplc Shares”) for up to 69,125,085 new ordinary shares of RM1.00 each in a new investment holding company, PEB (“PEB Shares”) on the basis of one (1) new PEB Share for every one (1) existing TRIplc Share held by the existing shareholders of TRIplc as at the entitlement date to be determined later (“Proposed Share Exchange”); and

(b) proposed transfer of the listing status of TRIplc to PEB and the admission of PEB to the Official List of the Main Market of Bursa Securities and the listing of and quotation for the new PEB Shares on the Main Market of Bursa Securities (“Proposed Transfer of Listing”).

The Proposed Share Exchange and Proposed Transfer of Listing are collectively referred to as the “Proposed Internal Reorganisation”.

(ii) proposed disposal by PEB of the entire issued and paid-up share capital held in TRIplc to PNHB for a cash consideration of RM210 million (“Disposal Consideration”) (“Proposed Disposal”).

Progress made in the BJLand disposal of China property project:

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5291973

BERJAYA LAND BERHAD (“BLAND” OR THE ”COMPANY”) ANNOUNCEMENT

DISPOSAL OF THE BERJAYA (CHINA) GREAT MALL RECREATION CENTRE IN SANHE CITY, HEBEI PROVINCE, PEOPLE’S REPUBLIC OF CHINA FOR A CASH CONSIDERATION OF RMB2.08 BILLION (“DISPOSAL”)

Further to the Announcement made on 16 December 2015, the Board of Directors of BLand wishes to announce that the Disposal has been completed with the receipt of RMB1,015.00 million by Berjaya (China) Great Mall Co. Ltd, a 51%-owned subsidiary of BLand following the fulfilment of all conditions precedent per the Construction Project Transfer Agreement (“Contract”) with Beijing SkyOcean International Holdings Limited for the Disposal (“Completion Date”).

Kk1234, guess most likely scenario would be a rally if retail investors sell or continue falling if retail investors hold...

voon1900 barely, less than 2% of my holding in Puncak currently, only for trading purpose (hands itchy? Think too dangerous to really buy and hold now). Dare not invest given current crazy deals by Rozali, sigh!

actually, bought at 0.895 but think I am acting out of anger, which is bad for investment or trading purposes...

Can only hope SC will bring justice for us minority shareholders. Of course, if you are a shareholder, your complaint will help.

hohup is related to Insas's boss, not BJC's VT, as far as I know...

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

If you are a concerned shareholders, please make the call or email. I am not providing my version, and believe your version should offer a wider perspective to SC. In addition, every additional voice makes a difference. So, exercise your rights as a minority shareholder.

haha... Puncak needs to only buy back shares, the company has over 1.1 billion cash but the market cap is less than 420 million. Buy out all shareholders, including Rozali, and the management is getting 700 million cash plus lands for free. Luckily, I am not selling my shares...

need time to draft the letter lah... none of you want to draft, only waiting for others to do the job...

From star paper today:
VT: sales (Vietnam Toto) have far surpassed our expectations. We only launched one jackpot. We are going to launch 10 to 12 games and it's going to be fantastic. Can it get bigger than B-toto? Much bigger, but not many people understand it.

Sales revenue increased 4.6 times in less than 2 months...

rMoi, you need to go through the book to know if anything hanky-panky. At least the plantation deal has something similar that we can compare and raise concern to SC. anyhow, add your name to the list if you are interested to meet SC for petition.

How many of you is interested to approach SC with regards to Puncak situation? Please repost this with your username included:

1. kahhoeng

Salam, we won't have any chance unless LTH is involved...

firehawk, you are right there are many selecting criteria for picking stocks, but a share at less than 40% net cash and you are here trying to emphasize what? I am not selling mine thanks to some garbage management but I am not selling to some comments here either.

firehawk, Puncak is still holding on to 2.50 cash!

stkoay, the asset sale story will result in this company holding on to 1.2 billion CASH with NO debt and a market cap of less than 500 million. Properly managed, Puncak should have a bright future. Really didn't expect Rozali to be this short-sighted!

stockraider Rozali is paring his stake in TRIPLC, it could be his approach to unload TRIPLC or an attempt to allow him voting for the acquisition. TRIPLC is definitely a BAD deal for Puncak.

angiess Puncak just committed to buy plantation co which requires heavy capital investment going forward!

lcwin, probably NO non-KLCI composite stocks in the future, and warn against these companies to all asking my opinion.

Guess I have trusted too much on balance sheet analysis, macro analysis, and believing too much in the ability of regulation.

stockraider, I didn't voice out earlier because I can't see the future on how he treats the balance sheet, 4th quarter 2015, and subsequent 3 quarters of 2016. I have done my part of URGING him to initiate share buy back to assuage concerned shareholders like ME... He said it will be put into consideration but worry about against the LAW. Those who have attended the AGM can vouch for me if Rozali and I had that conversation in the AGM. If a request for share buy back is not even taken into consideration, are you expecting another special dividend?!?

What's worst, Puncak is traded at less than 40% CASH and 30% NET ASSET with less than 40 million debt. Yet, there's little sign buyers are coming in. Worst yet, Puncak majority shareholders and chairman of Puncak say and do nothing! So, that means buying 1.00 cash with 0.40 cash is a worse deal than buying a plantation at premium because Puncak has to SPEND to develop the LANDS for potential future positive CASH FLOW. My ass!

Unfortunately, I can't PROVE any hanky-panky in the deal, but it SMELLS BAD!!! Had I have any proof, you will know if I will approach relevant authorities for justification.

Put it in other words, would Rozali buy this DEAL if its from his own pocket? If yes, why not just declare another special dividend, and he can easily afford to buy with his own cash and let us Puncak minority shareholders off the DEAL!!!! I almost want to say P*K*M* already

stockraider, the deal is to buy from Ling family! Taan's land is in proximity to Kuching city, which is closer and lower cost to operate. Please lah, could you kindly go through both deals, and raise your points after reading them? At least hng33 is pointing what's wrong with my understanding. You are simply make it up as it goes...

If Shin Yang Group can sell so EXPENSIVELY to Puncak, why sell so CHEAPLY to Sarawak Oil Palm?!?

Stockraider, you are the one who have to understand, Puncak is engaging in a deal with Shin Yang where there's a similar deal to compare with. Rozali is slapping with minority shareholders and forcing to take whatever he likes! (1) Puncak is buying at a much higher premium assuming tress above 18 months old as MATURED, and he expect everyone of us to take it as he INVENTED the terminology? (2) Puncak is buying ONLY 36% (had not hng33 pointed out, I would have thought Puncak is buying a higher 60% interests, which would be a better deal) leaving Puncak minority shareholders on hook to a potentially HIGH bill when the company plants more trees and suddenly DECIDE to buy 100%

Wake up, minority shareholders need to learn to complain and not sit quietly!

stockraider, compare Puncak's deal with Sarawak Oil Palm's deal, you would think the deal is absurd. Puncak assumes trees with 18 months and older 'matured', and paying planted area vs unplanted area with a RM 15 thousand/acre premium. With only a 36% actual interests, minority shareholders will be on potential hook to pay this premium in future acquisition.

Jay, rozali arranged the plantation deal to the extent that he doesn't need shareholders approval...that's why I'm hoping SC intervention on the ground 1. Puncak purposely invested to avoid PN 16 classification 2. Plantation deal can't stand to pass a PN 16 classification approval given it's not generating positive cash flow at least for another 2-4 years until trees truly matured and can't be core given effective interests of 36%. Anyway, let's see how, yet to firm up my petition letter to SC

Rozali seems like worse than VT of BJCorp... Wonder if he's worse than Tiah of TA?!?

davidtslim, I doubt Rozali is that idiot to announce reporting that can be easily check out. Think forensic accounting might have a chance if the money trails are tracked.

My feeling, Rozali doesn't care about shareholders' response, only interested about benefitting himself, has no concept of win-win, and don't mind grabbing all despite being called villain.

I haven't sold my shares, partly because the money is still in the balance sheet and its too costly to leave now coupling with bombs everywhere in the market now.

Thinking about approaching SC, but can't figure out anything wrong with the recent quarter report. The only two things I have found to put minority shareholders at risk are (1) treatment of investment to avoid classified as PN 16 company and (2) too expensive plantation deal that offer no short-term or mid-term benefits. I have posted these two before.

Doubt MSWG can do a thing either. LTH is one of the key initiators there, and I have seen their concerns over Puncak in the AGM, nothing great...

Only hope is LTH fights back over the plantation deal, but haven't seen them doing a thing either.

Think its dangerous to buy a company where majority shareholder shares 0 information, showing NO sign of caring about minority shareholders, or sufficient regulation to defend minority shareholders in face of this kind of taukeh...

Haven't sold any of my Puncak shares or know what to do now, sigh!

firehawk, cash is still about 2.50, Puncak IS worth between 2.30 and 2.80. I can't predict market or Rozali's behavior, and I can't tell you to buy or sell, and I still believe its worth given its cash company!

rMoi, its crazy to buy into a company where majority shareholder does not consider minority's interests... Rozali has just shown you exactly that, yet since its listed, there's little SC or Bursa can do about him? If not because I have already bought this share, I would NOT even touch it for Puncak has shown clearly he has treated minority shareholders like garbage!

had rozali been actively buy back company shares using shareholders' fund, there would be less concern funds will be misappropriated. Currently, it's as if Rozali telling minority shareholders, I do what I like, who cares if you eat shit!

quite frankly, thought I bought into safety during a stormy macro environment, didn't realize the company I bought in can be worse than the macro factor... Don't like the garbage ride Rozali is taking us minority shareholders. Though, still don't believe he can just 'create' anything in balance sheet and expect nobody dare to fight back. Hope some big fishes coming to hantam this guy...

as much as I want to add more Puncak shares, the truth is, Rozali has just shown us anything can happen to its quarter report and share price 'will' adjust accordingly, despite the fact that the company still holding on to over 2.50 cash per share and minority shareholders should not be screwed this way... Rather hold on to my existing shares and wait out the storm while trying to engage SC to see what can be done. Still trying to decipher the quarter report, any input is appreciated

angiess frankly, this is the first time I bought a share with this 'kind' of majority shareholder... I will email SC to learn the process after compiling my data after the recent quarter report analysis. But doubt there will be any effect unless there are sufficient number of us meeting SC

the cash per share is still around 2.55 (63.7 million other investment + 913.7 million short-term investment + 229.9 million cash - 21.6 million long term loan - 21.6 million short term loan)/454 million shares if the payable is excluded.

angiess if minority shareholders never voice out, how would Rozali back down? I raised the question earlier of voicing out to SC and none said a word, good luck to minority shareholders, sigh!

hng33... I will voice NO in any meeting! In fact, will try to write up to SC after I have finished reading the QR and believe I have a case

my question remains the same, how many of you are shareholders and willing to approach SC for intervention? Without sufficient number, there's little hope, with the right size, I believe SC will get involve. And despite my request before, none seems willing to participate, only bickering here and hope things will change for the good?

anyway, need some time to go through the QR, sigh!

roger, you were never consistent in your comments, and you expect people to trust you?

little snake, yes, you don't care... barely heard from you on Puncak before and suddenly pops out of nowhere suggesting people to sell out of 100 over million losses. What a nice snake...

DK66 are you Puncak's shareholder? Are you willing to approach SC for investigation into Puncak's businesses? Anyone besides DK66?

little_snake, like your name suggest... protest is useless, loss means loss, better cut loss... A word of snake, a tiny little one...

unbelievable quarter report!!! Wonder if SC will take action?!? May I know how many of you are shareholders and would like to seek SC's intervention on Puncak Niaga's business?

I am still holding to my shares, and I believe minority shareholders should protest and demand an independent forensic investigation into its book.

angiess, 1.2 billion after delisting through capital repayment, Rozali will get at best 500-600 million. Why would he want to delist if he's controlling 1.2 billion now? I am only hoping that he would get fair, if not good, deals for shareholders, but definitely not crappy deals like the shin yang's plantation purchase...

Maybe Rozali know the deal will not get minority shareholders' approval and delay the deal until he has disposed his interest in TRIPLC so he's allowed to vote in the deal? I will definitely voice out this concern to SC to make sure Rozali CAN'T vote in any deal with TRIPLC!!!

hng33, I have posted the location of the land in the above. The lands for Sarawak Oil Palm and Puncak deals are all hinterland. You can google map. I have met another investor who have spoken to plantation analysts for clarification and was told the deal is expensive. I am hoping we can stop the deal.

Frankly, I have been feeling very bad lately since the plantation deal is announced, felt being ripped off.

hng33, my apology. I get your point. My apology, didn't get that earlier. Still, buying a plantation land at RM 18,500/acre for trees mostly less than 18 months old and you are not concerned? aren't you worried that Puncak may have to buy at RM 18,500/acre in future to buy out the rest of shares not owned by Puncak?

hng33, the RM 446 million is close to RM 441 million I can come up with (33,372.6 hectares*3,500/acre*2.47105acre/hectare + 9766.9hectares*18,500/acre*2.47105acre/hectare.) I have assumed the 267.9 million to be the price to pay after considering the company's debt. You are always welcome to come up with the number using what I have provided or directly from the Puncak's announcements. In fact, you have yet to confirm if you also saw the quoted cost for the plantation deal...

There's no point hiding. We, as small shareholders, can always raise our anger through Securities Commission or MSWG (doubt MSWG has any impact myself though.) We can group together to seek better deals for minority shareholders. Not acting or pretending nothing happens won't help.

So long any of shareholders here had read my analysis and compare it with the Puncak announcements and agree with me, please let me know. We can use this portal to discuss what to do next. Any expert in plantation is welcome to offer insight into the deal. Thanks!