hng33, are you still holding and accumulating Puncak? Thanks

I actually added some warrants today despite pain seeing the drop... luckily not fainted

Everyone no energy? Less activities compared to yesterday...

Unbelievable, selling despite the cash already in Puncak's hand...

MyView, the land is not sold yet. You also need to take note that BJCorp once attempted to sell its venture in China but failed. But if you trace BJCorp's 10 years price range, its very attractive between 0.35 - 0.50. Guess its an extremely high risk stock to hold for short and mid-term, but can come with big surprises if held long term. So, I am also not sure if its worth the risk or not, sigh!

posby, unless BJCorp is willing to slow down investment or borrow more, otherwise its kind of hard to pay high dividend.

cyphua, you can find it out through BJCorp website or annual report. Think China one is nearby Beijing Airport...

Roger, like your first out of three messages. Well said

Guess with so many suggesting a satisfactory exit price of 3 for Puncak, I guess I will be among the last hoping to see 3.30 - 3.80 before considering a sale.

MyView, no doubt, BJCorp's profit figures looks good. However, if you looks further into its cash flow statement, you would have noticed that BJCorp's cash flow from operation is actually not good? (2015 first quarter: -RM 110 millions, 2014 full year: RM 26.8 millions, 2013 full year: RM 386.7 millions) Meanwhile, BJCorp's cash flow from investing has been negative all the while until 2013 (2015 first quarter: -RM 131 millions, 2014 full year: -RM 168.8 millions, 2013 full year: -RM 251.2 millions).

Having said that, BJCorp's investment needs has all the while supplied through more debt issuance. Guess this is why BJCorp is only able to deliver RM 0.01 dividend per share.

Bigger issue: Why has all the while BJCorp has not been able to generate sufficient cash flow from operation to allow it to invest, and has to resort to debt issuance to finance its investment? Hopefully, with Japan and South Korea's property development are completed that we will have a better picture of its property investment/development. If I were not wrong, BJCorp property development in both Vietnam and China are not doing well at all. Probably these 2 projects had dragged down BJCorp's performance.

Moi, if warrant has more than 6 cents premium over mother, I will sell my warrant to buy mother.

There's barely any hit before this run

hng33, ok. you are always welcome back. Don't you find o&g kind of risky now, especially no certainty yet as to how Iran would respond after embargo lifted?

Upsidedown, even after special dividend, Puncak should have a minimum of 1.2 billion (no conversion)and 1.4 billion (full conversion of sukuk & warrant). Funny thing is almost all just ignore that with the exception of cimb n probably kenanga (given their high target price)

benblurblur, no idea what you are talking about?!?

benblurblur, current conversion cost of WB to Puncak is RM 1.00. Puncak will announce the fate of WB when it announces special dividend. It could be (1) WB will be entitled to special dividend of up to a maximum of RM 1 but maintaining the conversion cost of RM 1.00 (2) WB will not be entitled to special dividend, but conversion cost will be slashed to a minimum of RM 0.00. After special dividend, WB price will be roughly equal to or slightly higher than Puncak share price minus conversion cost

Best yet, ask you remisier or friends

Benblurblur, hopefully you are referring to Puncak-WB instead of call warrant. They are of different species. If you are buying Puncak-WB, making sure you are up to date of the announcements made by Puncak. Currently, nobody has any idea the fate of WB, past records suggested a lowered conversion price, but it is also possible that RM 1 is equally distributed to Puncak and WB owners, given that the special dividend itself is already equivalent to the conversion cost. All in, just make sure you read announcement everyday, like me, haha...

It is highly possible that hng3 is gradually buying back now... Am I right, God?

roger, truth is, I am dismay by its price performance, barely reflect the reality of the stock. Though, at least, I don't have to worry about if a deal can be completed or not. Leaving only one issue left, how would Rozali spend the rest of 1.4-1.5 billion CASH after special dividend? If well spend, I believe Puncak could easily worth more than 4.

speakup Don't you find it strange? The news is not even report by Edge Daily and Focus! How to you expect the news to catch retail investors' eyes? After declaring a completed deal worth 1.5553 billion and the share price is only up 3 cents, which is 1.05%, and can't even hold on to a previous 10 cents (less than 4%) so far today? I am not hng33, good at timing in and out at the right time. So, what I can do is to hold until the right price to exit, which is between 3.30 - 3.80, depending on the market situation then.

speakup, XOX is a goreng stock. With a market cap of around 60 million now, how much do you it was before then? 25 millions? assuming a few largest shareholders have to hold on to show and maintain management control, that would be leaving less than 12 millions available in the market then. From 12 millions to 30 millions (after taking out the controlling stake,) some mid size players already can 'wa xi' already. Of course, not ruling about the possibility of a very bright future...

hng33, you sold already? Very geng man, now you are God of Puncak!

rising so slow... thinking about leaving for coffee break and reading instead

best wishes to everyone of us... Hopefully Puncak will trade between 3.30 - 3.80 in coming few days

http://www.chinapress.com.my/node/663299

（吉隆坡15日訊）商業高峰（PUNCAK，6807，主要板基建）已收到雪州水供管理有限公司（Air Selangor）15億5430萬令吉最后付款，宣布正式完成脫售水務資產。

　商業高峰向馬證交所報備，就水務資產脫售計劃，今日接獲雪州水供管理有限公司總值15億5430萬令吉的最后付款。

　換句話說，上述資產脫售宣告完成，Puncak Niaga（馬）私人有限公司和雪州水供有限公司（簡稱Syabas），從今日起不再是商業高峰的子公司和聯營公司。

　商業高峰早前分別持有Puncak Niaga（馬）私人有限公司和Syabas的100%和70%股權。

　Puncak Niaga（馬）私人有限公司同日將2家獨資子公司，即2股的Ideal水務資產有限公司，以及100股Unggul Raya（馬）私人有限公司，轉移至商業高峰，收購價分別為2令吉和100令吉。

　雪州政府通過雪州水供管理有限公司，在最后期限即今日，接管雪州水務資產。　

　另外，馬證交所今日告知，根據PN16上市條例，商業高峰不屬于現金公司。

hng33, victory to all, hopefully... but a long way to me, given that Puncak has to be at least 3.20 for my profit to be meaningful... Hopefully will reach my guess of between 3.30 and 3.80. Thanks.

hng33, why a few weeks? Hopefully a few days... Sweating now given my exposure in warrants.

There is one problem though, the news is barely reported. I have only seen the news on Star, and yet to view it on Edge Daily...

yes yes yes! wonder if we will see 15% gap up tomorrow? hng33, care to comment? I sold 10k shares of Puncak at 2.865 and bought 16k shares of warrant at 1.87 today.

Ks55, wonder how many investors actually read through Puncak balance sheet before investing? Even analysts insisting on cash per share of 2.90 from disposal, omitting debt relief from sukuk conversion, additional cash raised from warrant conversion, and existing cash in hand, which together will add additional .70 per share cash to Puncak? Not to mention it has land over 280 acres in kuala selangor debt free?

Hng33, u r trading king here... agreeing with ckk2266, lihai lihai

But if ur rumor is a fact, we would see Puncak plunging already, so don't worry

Ks55, sorry,meant no harm, just a joke...

I shall never be held liable for the rumor though if can't be confirmed given that rumor is rumor

Was told deal completed, Puncak receives additional 1555.3 mil as compensation for the delay. Can anyone confirm? :-)

黎明前的黑暗? A low of 2.81 just now... also, 狼来了的故事现实版? Past 2 announcements see price rises by minimum 15%, now,barely move

damned, hng33, you are good!

any idea why the drop? correction? hng33 has again shown his sharp trading skills, wonder if he will be returning?

sudahkena, hopefully another one after deal completion is announced... and another one when a confirmed date and amount of special dividend is announced... and another one when quarter report shows profits despite asset disposal... and another one after showing an asset per share jumps post asset disposal...

managed to sell 13k shares at 2.88, but got greedy and added 16k shares of warrant at 1.89. Instead of reducing position, I have actually increased my exposure in Puncak, despite an increase in cash position.

Guess we May have to wait until Puncak able to show profit after asset disposal or a balance sheet showing cash per share of around 3.60 after disposal (before dividend)..

truth is, how can puncak reach its fair value if so many anal-ysts insisting on cash per share of only 2.90 after water restructuring and concern on its o&g business (midf even emphasizes 20 millions losses in 6 months)

money888, I have added some Puncak position by selling Puncak (for every Puncak share) and adding Puncak warrants (I buy 1.25 warrants) when Puncak is around 2.58 and its warrant at 1.58-1.59. Since hng33 has been right on his trade calls on almost 80%, thought if I were to dispose the additional 25%, I could preserve some cash. If it drops later I can add back those position. If it rise, I will just assume I realize the profit like hng33 said. Anyway, initially, I was with a friend discussing some matter and didn't have time to think over it. By the time I was free and overcoming the struggle on selling decision, its too late to fill my sell order despite my sell order (think enter around 4.30 p.m.).

jolie2, ?!?

confuse, I also want to know. My assumption is Puncak shall receive the money by the latest Oct 15. How else would Puncak hand over the asset?

hng33, thanks for the update. Just ignore those you found annoying. Many appreciate your thoughts, including myself. Even though I have yet to successfully follow your exit strategy, your entry strategy has helped me in my decision making and a failed attempt to sell yesterday at 2.87. Guess will wait till Oct 15 now

hng33, so many noises here, plus, including me, not many are aware of all stocks that you are following and trading. it would be easier to read your thoughts had you created a blog. Or, could you put your thoughts into a particularly space here on i3investors? Sometimes spot some good articles here in i3investor, but didn't really explore in details. Then, we can go and read accordingly.

hng33, yeah lah, get a blog of your trades, and share with us if you don't mind. ignore negative voices...

Would be great to read

Hng33, what have you been buying after selling Puncak? Thanks... btw, do you keep a blog of your trades n trading idea? I m one of your fans too

Ckk2276, No need already, its confirmed 15 by puncak. Earlier its can any day in between

follow hng33, queued at 2.87 but failed to fill. Taking too long to think and act...

congratulations! will take your advice into consideration...

Roger, what do you mean?