Singor, you mean no money to migrate overseas?

Could this be good news to us?

http://www.themalaysianinsider.com/malaysia/article/selangor-to-decide-on-water-restructuring-issue-says-ongkili

Putrajaya has left the direction of the restructuring of the Selangor water supply industry to the state government after a master agreement failed to be reached on April 30.

Minister of Energy, Green Technology and Water Datuk Seri Dr Maximus Ongkili said he had written a letter to Selangor Menteri Besar Mohamed Azmin Ali on April 30 on the matter.

"It is up to him to settle the issue of transferring water assets and taking over completely the concessionaire of Selangor water as contained in the agreement," he said.

He added that Putrajaya would continue to be committed to finalise the restructuring to ensure security of water supply in Selangor, Kuala Lumpur and Putrajaya.

"Apparently, there are still obstacles at the state government level. So in the letter I said, 'the ball is in your court', and it is up to him to settle because on my side I have exhausted (all avenues).

"We have fulfilled our part and it is now time for Selangor to fulfil theirs but Putrajaya has not shut its doors," he told reporters after handing over excellence awards to 63 ministerial staff in Putrajaya today.

Ongkili, prior to this, said the Selangor government was given until April 30 to respond on the master agreement, after being postponed several times from the last deadline on January 12, following the problem of transferring two water assets in Bukit Nenas and Semenyih to Pengurusan Aset Air Berhad (PAAB).

He said Putrajaya was prepared to hand over the RM2 billion allocation to help the state government take over the equity of the water concession companies if it could provide other assets which had adequate value to replace the two assets in question.

According to Ongkili, at the meeting between officers on both sides, the Selangor government had identified four other water assets whose ownerships could be transferred but it could still not be finalised.

He added that the Langat 2 water treatment project and the distribution system would be continued, and Putrajaya would consider legal action if the Selangor State Government continued to postpone the issuance of permits for the project.

He said Putrajaya would defend the heads of agreement which was signed by both parties on the project because it was not subject to the master agreement. – Bernama, May 8, 2015.

jolie, I have a small heart, don't get me into heart attack...
singor, don't think anything bad will happen to 1MDB or Najib. Should M insist on his attack, it will only help to bring down BN faster. BN has PR to thank for. Had it not PR's weak alliance and lack or coordination in implementing policies, BN would have fallen faster. Not into politics or an insider, so just my personal opinion.

Singor, I think the money is being allocated, only that they can't pay more to Gamuda for Splash, which is probably why fed is not willing to negotiate further. I have no insider information, this is my guess

will the following makes us, Puncak shareholders, feel better? And my wishful thinking getting real?!?

http://www.thestar.com.my/News/Nation/2015/05/08/Putrajaya-Selangor-water-deal/

Putrajaya may take action against Selangor over stalled water deal

PUTRAJAYA: The Federal Government may have to invoke the Water Services Industry Act to compel Selangor to proceed with the state’s water restructuring exercise.

Energy, Green Tech and Water Minister Datuk Seri Dr Maximus Ongkili said such a move may be required for the sake of national interest and the people’s welfare.

He, however, added that pursuing legal recourse would be the last resort.

“We have not reached that stage yet because we are still open for discussion.

“I have written to the Selangor MB saying that the ball is now in his court.

“It is up to him how he wants the exercise to proceed,” Dr Ongkili said after presenting the ministry’s excellence service awards here on Friday.

The water restructuring agreement between Selangor and Putrajaya has come to a standstill due to a dispute over land ownership rights.

The parties have until Monday to renegotiate and confirm the deal.

jolie, waiting with no buy or sell is pretty much = numb to some extent already lah...

great Selangor MB, Azmin, defender of Selangor people... He believes that water is nonessential, can be used to negotiate

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4726841

Name EMPLOYEES PROVIDENT FUND BOARD

Type of transaction Date of change No of securities Price Transacted (RM)

Disposed 27 Apr 2015 320,500

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4726813


Name EMPLOYEES PROVIDENT FUND BOARD


Type of transaction Date of change No of securities Price Transacted (RM)

Disposed 28 Apr 2015 343,100

Oriental share price rises after EPF disposal, followed by EPF purchases. Hopefully, this will happen as well on Puncak

hng33, 呵呵, long time not hearing from you

Same same

Haha... indeed numb already.

Singor, what I meant is to invoke WASIA to force through restructuring, offer prices and targeted companies remained the same. Its meant merely to take over the whole restructuring into fed's hand and to only release the management to state after the deal is completed. Thus, state won't have a say in the deal while Gamuda won't be able to sell SPLASH given mismatched price. Doubt this can happen myself, haha... just to release stress

Singor, wasia may not be so bad if fed takes over everything and paid agreed price to those willing sellers, leaving selangor state government and splash the only two dissatisfied entities

hmm... with state governments' love to announce public holidays for re-election, should I pray more jailed and dead politicians in the future, of course, I mean those in power.

How much I wish PR lost in both elections so BN senses it as a good chance to force through the water restructuring... But then I dislike BN more, sigh!

Doubt Ongkili is willing to force through the deal given election sensitivity. If so, Gamuda will be in trouble reporting its coming quarter reports while PKR's Azmin will cry claiming that BN's federal cares nothing about Rakyat but cronies. But guess we will benefit given that Puncak has agreed to all terms set out by the federal...


http://www.freemalaysiatoday.com/category/nation/2015/04/03/sgors-water-restructuring-deadline-pushed-to-april-30/

KUALA LUMPUR: The Selangor government has up to April 30 to respond to the extension of the cut-off date for the Master Agreement on the Selangor water supply industry restructuring, said Energy, Green, Technology and Water Minister Maximus Ongkili today.

Failing this, he said, the Federal Government would take the view that the Selangor government was not interested to take up the offer on the restructuring exercise and complete takeover of the concessionaires in Selangor as contained in the Master Agreement.

He said after the deadline, the Federal Government would take the necessary action required under the Water Services Industry Act 2008 (WSIA) and other relevant laws to ensure the national interests and welfare of the people were protected.

“To ensure the security of water supply and completion of all planned projects including mitigation measures, we are hopeful that the spirit of cooperation as upheld by the Selangor Government in the past will continue to prevail,” he said after visiting the Langat 2 Water Treatment Plant in Hulu Langat near here.

Ongkili said the cut-off date for the Master Agreement had been extended twice as it lapsed on March 9 but the Selangor government did not agree to extend it further to complete the Master Agreement’s implementation.

“I have even personally written to Selangor Menteri Besar Azmin Ali on March 12 asking him to rethink his decision not to extend the cut­-off date of the Master Agreement as well as on outstanding matters that need to be resolved. However to date, I have not received a formal reply from the Menteri Besar,” he said.

Ongkili said the Federal Government valued very much the royal address by the Sultan of Selangor, Sultan Sharafuddin Idris Shah at the opening of the state legislative assembly sitting on March 30, in which he expressed concern on the impact of all the delays and politicking to the lives of people of Selangor, Kuala Lumpur and Putrajaya as well as on business.

“We hope the Selangor Government will take heed of His Highness’ advice that the Master Agreement is implemented fully and to ensure security of water supply as planned,” he said.

Ongkili said his ministry maintained that the parties involved should respect and adhere to the contents of the Master Agreement. “There are points in the agreement that require fine-tuning to the satisfaction of both parties,” he said, adding that the matters were pertaining to land and other water assets, which had already been agreed upon during discussions and negotiations in the crafting of the Master Agreement.

“We have not changed the goal posts nor added any new items in the agreement.All the Selangor Government needs to do is to comply to the terms,” he said.

Specifically, he said, they continued to claim that the land on which the Bukit Nenas and Semenyih plants sit belong to Selangor, which by law was a baseless claim.

Ongkili said the matters needed to be sorted out otherwise the Master Agreement would collapse and the Federal Government would have to revert to other options including legal recourse to exercise its right.

Discussions in the last two years have facilitated the signing of a memorandum of understanding (MoU) on the Selangor water restructuring on February 26 last year, a heads of agreement (HoA) on August 1 and finally the Master Agreement on September 2.

- BERNAMA

Hope restructuring resolved soon

So hot... all holding stocks won't appreciate falling prices lah, unless holding cash waiting to buy

many stocks drop lah...

personally, doubt any possibility of water tariff increase until the restructuring is completed. DAP has raised water tariff twice, despite still be the cheapest among all states, since taking over Penang state (if I were not wrong.) Though, due to its promises or any other reason(s), PKR has refused to any tariff increase in Selangor if I were not wrong, despite the fact that Selangor water is still cheaper than Johor and some others.

hope jolie's news will bring some upward momentum for Puncak

singor fainted, u said double mah. I am happy with 3.80 - 4.20, hng33 targeting 3.60 if I were not wrong, don't know about others though

Assuming double current price, puncak will need to be 5+...

Singor, sigh! I didn't sell for a 200% gain, I sold for around 100% - chicken out, though, still the luckiest trade I have ever made...

Sorry, think 2 years ago

I had a similar experience once 1.5 years ago with insas, doubled in less than 6 months, unfortunately didn't keep slightly longer for another 100% return.

Singor, yeah, your return is exceptional. I got carried away with the market sentiment end of last year and shifted almost all my investment into Puncak, thinking that its at least a sure deal with special dividend. Sigh! Guess I was wrong

alas, really nothing much can be done, only to await azmin's mercy?!? Hopefully the market has priced in the risk of further delay and an announcement of completion will drive the price high

hng33, no choice but to remain optimistic... sigh!

best wishes to hng33 and may roger prediction comes through... what should be the price target? roger, hng33 is looking at 3.60 if I were not wrong...

hng33, the problem is, until today, they have yet to meet. Guess they are still playing politics.

noticed the shift in company roles of certain Puncak big shots, though they are not as concrete as an announcement by government on the deal. Guess its not a good indicator given political play on the restructuring issue

After azmin mentioned about meeting ongkili last week, there has been no further announcement, yet market is so quite...

think azmin is real lousy, not willing to settle water restructuring yet not charming enough to 'persuade' syabas to perform

agree with jolie on this, a potential change of mb again can be bad for water restructuring

A bit upset knowing epf is selling

Roger, I m seeking to learn more about puncak. Whatever info is welcome, guess will filter using my own logic. Surely, if you are not here to share, i m OK. Truth is, if you are so keen, I guess won't mind just state a 100% trust if that's what u r merely looking for

roger, what gives you the impression something is big?

I have seen thrice share prices rose a few days after hng33 mentioned his purchase... Should I jump in as well?!? Oops, no bullets already, sigh!

kind of have a feeling azmin is willing to delay the restructuring as long as possible. Otherwise, he would have had his secretary called Ongkili's office to set an appointment instead of writing a letter to him

smartly, same here, I have an average cost of 2.90

smartly, problem is the yoyo is in the hand of azmin, and i m not his crony, sigh!

Hng33, thanks Just doubt the government is willing to pay more than 1.5553 bln.

we have BN that's corrupt & racist on one hand, and a PR that's lacking economic-sense & religious enthusiast on the other?!?

hng33, on page 97 in part 2 annual audited account, its stated

"The profit from the discontinued operations of RM255,177,000 is attributable entirely to the owners of the company"

Does that mean so long the deal is not completed with proceeds handed over to Puncak, Puncak shall continue to profit from Puncak's to-be-sold businesses? Think you have mentioned about it before, but can't find the source

Problem is, in page 98 in part 2, its also mentioned that cash flow from discontinued operation is a -RM132.988 millions. How's Puncak going to benefit from the profit when the cash flow is negative while its a business to be handed over?!?

hng33, noted with thanks.

If I were not wrong, once restructuring is completed, Azmin will RAISE water tariff, claiming its in the BEST interest of Selangor people to help preserve the precious water resources and also because of GST, haha...

hng33, what give you the impression that PKR and PR are also unhappy with the water restructuring dilemma by Azmin? Thanks

hng33, until azmin concludes the water restructuring, its hard to say if he really intends to complete it. His record is bad, bad, bad

guess anwar loved khalid's sleepy look for years til last year...

jolie, good to know that you have proof... probably anwar forgot to slap khalid, and khalid thought anwar didn't love him enough