probably falling oil price also contribute, hope good news out in a few days (doubt that myself, sigh!)

Guess no faith in Azmin

hng33, sure hope the deal will be completed soon, but can't help but abhor Azmin's 'strategically dumb' move and hope he would be punished

how much I wish Puncak BOD would add that no additional extension will be granted in its media release

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1903613

We refer to the announcements dated 11 November 2014, 16 December 2014, 7 January 2015, 13 January 2015, 14 January 2015, 10 February 2015, 10 March 2015 and 13 March 2015 in relation to the Proposed Disposals.

On behalf of PNHB, Hong Leong Investment Bank Berhad wishes to announce that further to the announcement dated 13 March 2015, the Board of Directors of PNHB had at a meeting convened today deliberated on the further extension of time for the fulfilment of the conditions precedent stated in the conditional sale and purchase agreement dated 11 November 2014 from 9 March 2015 to 9 April 2015 (“3rd Extension of Time”).

The Board of Directors of PNHB, after careful consideration of the matter and having taken into consideration the views and recommendations of the Management of Puncak Niaga (M) Sdn Bhd and Syarikat Bekalan Air Selangor Sdn Bhd, has mutually agreed to the 3rd Extension of Time with Pengurusan Air Selangor Sdn Bhd (formerly known as Temasek Tiasa Sdn Bhd) (“Air Selangor”).

jolie, if azmin is to only trying to clean the left-over shit, he should state clearly at the beginning the viability of the transaction upon his appointment as MB, instead of the other way round. Should he find the land deal not appropriate, he should have stated it clearly at the end of first deadline. I remember clearly that he blamed Puncak for the delay at the end of first deadline! On last Monday, he said the deal will not be completed, yet on Friday, Air Selangor (a subsidiary of Selangor state in charge of the water deal) requested another 1 month delay from Puncak. Azmin is clearly mishandling the water issue right now, and he should apologize not only Selangor people, but shareholders of listed companies affected by his reckless speech.

rich, I am no politician, but guess anyone sacked won't mind saying what Khalid had just said at this moment. I just feel good knowing someone slapping Azmin's face. If Azmin could have mentioned earlier the land issue, I would not have been so furious. Given that he did it only last week and yet have a change of heart (?) through a letter seeking delay is even more shameful!

Personally, I believe Khalid should have resigned when he is not in favored by PR to rule Selangor, being sacked when declining to step down is inevitable.

davidtslim, that's Khalid's words, sure he is extremely happy now given that so many people are angry with Azmin's politicizing, excellent time for him to make a noise

jolie, Kelantan can never be the capital lah, only kota bharu can. We will all live under hudud as well?

Roger, surely. I m on the island side, bayan lepas area. U? Maybe can pick a place to meet

hng33, while I believe Azmin is the main culprit, Putrajaya has contributed too. Should it be that simple, Putrajaya could have offered alternative long ago, officially or unofficially, during the 3 months. All I can say, damn politicians! We are not as rich as the developed nations, and our politicians are acting like one already. Sigh!

jolie, khalid's words is a smack on Azmin's face. Kind of like it when someone is doing it for free for me, hahaha...

kqtay, awer is criticizing azmin for politicizing water deal, citing that Selangor water users will have to eventually bear all cost of restructuring and a delay will not benefit them. This should be a wake up call to Azmin, not Putrajaya!

the land matter is insignificant should they really want to address. If politicians prefer politicizing the issue, why bother letting them have the fun to show off?

hng33, how much I wish Puncak will reply a maximum 7 days delay, after which seeing Azmin in court

Azmin should be sued for creating panic in the market!

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1902209

We refer to the announcements dated 11 November 2014, 16 December 2014, 7 January 2015, 13 January 2015, 14 January 2015, 10 February 2015 and 10 March 2015 in relation to the Proposed Disposals.

On behalf of PNHB, Hong Leong Investment Bank Berhad wishes to announce that on 13 March 2015, PNHB had received a written request from Pengurusan Air Selangor Sdn Bhd (formerly known as Temasek Tiasa Sdn Bhd) (“Air Selangor”) for a further extension of time for the fulfilment of the conditions precedent stated in the conditional sale and purchase agreement dated 11 November 2014 (“SPA”) from 9 March 2015 till 9 April 2015 (“3rd Extension of Time”).

As previously announced by PNHB on 10 March 2015, all conditions precedent under the SPA which are to be fulfilled by PNHB have been met.

The Board of Directors of PNHB will deliberate on Air Selangor’s request for the 3rd Extension of Time and thereafter, an announcement will be made by the Company with regards to the decision of its Board of Directors.

This announcement is dated 13 March 2015.

roger, azmin is a sh*tty politician for what I know now, despite my inclination to continue voting for PR.

I would strongly suggest Puncak suing Azmin for his act

think its promising, if real good news, should shoot up already

jolie, azmin is definitely not doing the right thing. if he is sincere about resolving this, he should have stated clearly the conditions, rather than a last minute call off with some stupid reason, of course, only if I am getting the picture right.

http://news.sinchew.com.my/node/413807?tid=1


（雪蘭莪‧八打靈再也11日訊）雪州水供協議的爭議再起，能源、綠色工藝及水務部長拿督斯里麥西慕和雪州大臣阿茲敏阿里各執一詞。若這項水供重組計劃繼續再拖延或告吹，將對雪州人民帶來3大影響；雪州也可能在2017年面對大水荒。

大馬水務與能源研究協會（AWER）高級經理林素芳警告，雪州水供協議再起爭議，人民肯定是最後的輸家。

因此她促請中央及州政府公開雪州水供重組主要協議內容，以把所有條款攤在陽光下，由大眾去評估誰是誰非，也監督合約的執行。

該協會也促請中央政府和雪州政府勿再對此協議爭議不休，雙方應坐下來好好談，以免犧牲人民的利益。

水費漲鬧水荒……拖延協議有3後果

若雪州水供協議受到拖延，可能造成的4個後果如下：第一：目前四家私營化水供公司將可以按照原本合約條款調高水費。

林素芳說，由於政治因素，雪州的水費調漲問題，暫時被擱置。一旦水供重組計劃告吹，很難要求這些私營化公司透明化他們的營運成本，加上他們至少還有十餘年的特許經營權在手，未來十多年，這些公司就可以按照合約條款調漲水費。

第二：無收益水問題無法解決，水供公司成本轉嫁給雪州用戶。

她說，雪州有很多陳舊的輸水管，一年浪費了很多的無收益水，而在有關的合約中，本來是要減少無收益水的問題，但若無法成事，更換陳舊水管的計劃又要被擱置，無收益水問題沒有解決，水供公司又得面對這筆損失，但羊毛始終會出自羊身上，料最終水供公司將把這筆損失轉嫁給用戶。

第三：隨時面對水供短缺風險她指出，在該合約中，雪州政府將批准土地的使用，讓中央政府建造冷岳河二濾水廠，但如果合約告吹，冷岳河二濾水廠就建不成。本來預計在2017年的時候，冷岳河二濾水廠，每日預計的食用水生產量是11億3千萬公升，供應給雪州南部和吉隆坡地區的用戶。

目前雪隆每日所生產的食用水是46億公升，而雪隆人民每日的需水量達到了該數字的95%，州內只剩下5%的淨水儲備量，已經達到飽和，萬一發生大型輸水管破裂、水源污染或如去年的長期氣候干旱，雪州人民就會面對水供不足的問題，重演過去的歷史。

她認為，咖啡山和士毛月水壩的水務資產，是由中央政府撥款建造的，所以應該屬於中央政府所有，但是土地則屬於雪州政府。

她補充，每一個州的土地都是屬於各州政府的管轄權力，除了一些特別的地方是屬於中央政府之外。

指阿茲敏“雞蛋裡挑骨頭”

針對中央政府和雪州政府目前爭議的協議中，屬於中央的水務資產管理公司（PAAB）所接管的雪州水供公司等各造的資產，是否有包括水管所經過和裝置的土地時，她說，在這個課題上，雪大臣阿茲敏阿里顯然在“雞蛋裡挑骨頭”。

她說，就好比建屋子不可能不建在土地上的情況一樣，中央政府要接管的這些水務資產，如濾水廠、水壩，也是建在土地下或土地上的，不可能是建在空中，所以在有關的協議中，這些土地也應該是屬於中央政府的。

她說，在有關的協議中，雪州有96億5千萬令吉的負債資產，當中有20億令吉是用來收購4家水務公司，還有76億5千萬令吉的水務資產債務。而雪州政府的雪州水務私人有限公司（Air Selangor Sdn Bhd，ASSB）要解決這筆債務，就要把價值96億5千萬令吉的資產暫時交給PAAB作為抵押，這是很公平的程序。其他已經進行水務重組的州屬包括檳城、霹靂、柔佛及森美蘭都是如此。

她說，既然在協議中要把資產暫時抵押給PAAB，那這些土地就暫時不屬於雪州政府所有。

合約滿土地歸州政府

她說，據瞭解，雙方也簽署了一份長達45年的租賃合約，在這項合約內，ASSB每年就會依據合約內容，固定償還多少的貸款給PAAB，一旦約滿，還清債務，這些資產就會歸還給雪州政府。

“這表示45年後，ASSB沒有負債以後，這些土地就會屬於州政府。”

不過她表示，為了消除阿茲敏阿里的疑慮，在轉移資產給PAAB的協議上，雪州政府可以附加一個條款闡明，“水務資產所在的土地，也會一併租給中央政府，不過是零收費。”

土地租賃中央零收費

她解釋，為何租賃土地給中央政府又不能收費的原因，是因為96億5千萬令吉的債務是由人民的水費中支付，如果租賃上述在水務資產上的土地還要收費，表示雪州水務債務會更高，那這筆費用最後還是由人民去承擔。

無論如何，她說，目前雙方簽署的是水供重組計劃主要協議（Master Agreement），這表示裡面的條款，需要雙方一致同意了，才算是正式生效。相反的，如果這裡面有任何的條款無法兌現，表示可以取消這個協議。

林素芳說，若雙方不清楚各自在這個水供重組合約中的責任與角色，該如何重組雪州的水務業，該協會樂意開班授課，把他們各自的角色解釋得一清二楚。

Hng33, PR words on water deal has 0 value, especially azmin

Langkawi, do you live in selangor or langkawi? If water deal in limbo, hope you are in selangor all the while

Solution coming? Or another trap again by damned azmin?

Alas, we all have stake in puncak, just differ on trading/investing strategies. No point arguing these, just embrace differences n if one among us is harsher on words, don't take too seriously. It could be a bad day when saying it. Bigger enemies are out there, like the big s**t governments, state n federal included.

hng33, well said

hng33, yes, share the same feeling. How much do I miss the years where I can just drink from the tap

hng33, our water is too cheap, yet expensive water is not good politically correct. What a dilemma, so we ended up letting the politicians screw us up

hng33, frankly, given that I am from Penang, Selangor water deal doesn't infuriate me that much, my huge paper loss on Puncak is...

hng33, yes, that's what I intend to say, BN vs PR, shit vs stinky garbage. I have a friend used to be supporters of DAP for years until last election when he decided not to vote. He doesn't see a point of voting anymore. Well, I still do, telling him that could use some stinky garbage after so many years of shit, then, that garbage is giving me a throw up, sigh!

yes yes yes, finally someone comes in to buy, relief at last

btw, hope the selloff done today and some recovery going forward until a deal is closed between fed and state, hopefully within 3 months now, sigh

hng33, I think anything can happen to the land in 45 years, too hard to assume. Think Azmin is showing off that he is protector of Selangor while BN/Khalid not. Otherwise, they could have compromised earlier like Ongkili suggestion to lease land for 45 years! BN vs PR, shit vs stinky garbage. Wonder if shareholders like us can sue for compensation or not?

hng33, that's what we call politicians, no statesmen... Only knows f**king populist agenda and playing politics after things gone wrong! Glad to see the Selangor consumers group showing muscle

hng33, can only hope deal getting done soon. Frankly, got panic this afternoon seeing it falling more than yesterday as I earlier thought that yesterday should have the most decline given news. Still, thanks to your analysis. BTW, real brave of you to keep on buying this morning, I really chicken out by this stupid Selangor MB news. Saw this just now,

http://www.themalaysianinsider.com/malaysia/article/speaker-to-consider-request-for-anwar-to-attend-parliament-says-pkr

Fearing a water crisis, groups representing the water and consumer groups have told Putrajaya and Selangor to stop the politics over the state's water restructuring deal and ensure that ratepayers have access to continuous and safe drinking water supply.

Hopefully Selangor consumers' anger will speed things up this time.

strange but notice the news is out 4:14 pm, why is Puncak still falling?

Great News!

http://www.themalaysianinsider.com/malaysia/article/selangor-open-to-land-lease-deal-with-putrajaya-says-azmin

Dialling down from its earlier stance following the lapse of the water deal, Selangor today said it is willing to discuss with Putrajaya over plans to lease state lands where the water pipes were located. "This is something we can discuss, we are open for discussion," Menteri Besar Mohamed Azmin Ali said at the Parliament lobby today after paying a courtesy call to Speaker Tan Sri Pandikar Amin Mulia this afternoon. The Gombak MP however insisted the agreement did not specifically mentioned the word "land", instead using "vague" provisions with terms such as "moveable" and "immovable assets". googletag.cmd.push(function() {googletag.display('div-gpt-ad-1400601790726-3');}); "Our discussions from day one only touched on assets for Pengurusan Aset Air Bhd (PAAB), there is nothing beyond that," he said. Earlier this morning, Azmin said the Selangor water deal tanked because Putrajaya wanted for free the land where the water pipes were located. He said the land was not part of the agreement signed between the state government and the Barisan Nasional federal government on September 12, 2014. The 26,000km of pipes were among the assets listed in the agreement. "The failure to continue with the master agreement was due to the federal government's refusal to respect the main agreement signed last September. "They want the land for free, the land does not belong to them. What was stated in the agreement and agreed upon by both sides was to handover the assets owned by the concessionaires. "If we agreed to that, the state government will lose its sovereignty on the land," he said at an earlier press conference at the Parliament lobby. Energy, Green Technology and Water Minister Datuk Seri Maximus Ongkili however said Putrajaya did not renege on the Selangor water deal by demanding free land as the provision was already inked in the master agreement. If need be, the federal government is willing to lease the land from Selangor, he added. "We will only lease it for 45 years, we are not permanently taking over the lands." The master agreement was signed by Azmin's predecessor Tan Sri Abdul Khalid Ibrahim last year, aimed at taking over operations of the RM30 billion Selangor water industry from four private companies and returning it to public ownership. The terms of the master agreement include state special-purpose vehicle Pengurusan Air Selangor Sdn Bhd (PASSB) acquiring Syarikat Bekalan Air Selangor Sdn Bhd (Syabas), Puncak Niaga Sdn Bhd (PNSB), Konsortium Abass Sdn Bhd (Abass) and services licence-holder Konsortium Air Selangor Sdn Bhd. PAAB will pay RM1.68 billion to facilitate the concession acquisitions and in return, the Selangor government will turn over the water assets to PAAB for a period of 45 years. PAAB will lease water assets to PASSB, which will pay a fee to PAAB, at a rate that will be determined between the two parties and set out in the facility and lease agreements. Azmin yesterday announced that Selangor would not grant Putrajaya a third extension on the Selangor water restructuring deal, which lapsed yesterday, accusing the federal government of breaching the agreement terms. – March 10, 2015

feel relief with ongkili speaking out. Think he is causing panic saying waiting for state letter earlier, am I right?

Singor comments well

guess puncak drop the most partly thanks to headline on edge daily

smartly, that's why Selangor state said, federal has yet to come up with its argument...

haha... you are right, superb. I was in the money many times, but choose to stick to this believing in an eventual completion. I am having not much faith with overall market over commodities issues and decide to stick to company with potentially heavy cash on hand as safety net. guess potential is not firm

guess too many thinking deal will eventually go through, bet through puncak and decide to sell after the news, sigh! those not selling like me are suffering the most

fainted, saw the news, so another few weeks before knowing the potential destinations?

that will put puncak into heavy lawsuit, think better with suing state government to collect money with federal helping speeding up the process

with edge daily putting this on the headline, hope its not going to fall for another 5%

wonder if the whole issue is merely due to no money to get it going?!? if so, best for Puncak suing state for money

no money or guts to buy...

roger, know what lelong is, just wonder if the correction is about your post of something going to happen?

roger, is lelong what you meant by something going to happen?