The more i think about the report in edge, the more confuse i am. Out of curiosity, shouldn't those issues raised in the edge been addressed prior to initiating takeover of private water companies?

its hard to imagine that possibility, jolie. I can't dispute the edge's suggestion though, given its no longer Puncak's fight, more like a fight between state and federal, which is crucial in influencing deals between state and federal in the future. More so when BN no longer have full control of states affair.

While having concern on how long the deal will be dragged further, still believe that it will be completed soon to avoid further delay in Langat 2 from federal's perspective or huge legal cost from water tariff not being raised from state's perspective

jolie, you wrote some comment not worthy of consideration (which is misleading) to 'warn' people in expectation others would dig further (not to mention they would be able to dig or not). Then not happy with others' reply on your comment?!? How about not commenting at all and won't feel unhappy at all? Real strange

caocao, guess either a Puncak/state government/federal government clarification, I will have no choice but to keep waiting. The cash of at least 3.55 (which I hope is at least 3.70) per share is too tempting to me

Jolie, your earlier comment is so much off compared to what's suggested in the edge

The pity part is that I have no idea about the issue n keep accumulating, sigh!

hope someone would write to Puncak seeking clarification

fainted, is it true that it will be dragged for another month?

guess most money accumulated through the sale of BJAuto has been spent to buy BJLand and BJToto?

guess EPF adding position is the only consolation?

alas, babu, what else can you expect from hng33? He has offered his best knowledge about Puncak already, at least that's how I feel reading his writeup

fainted, just add some Puncak @ 2.64, wonder when will I be able to resist temptation to buy Puncak? Too concentrated in Puncak already, sigh!

wonder how long would it take before the 700+ millions proceed from sale of palm oil estate will be realized?

more like controlled by no-news

real big joke, Azmin said that Selangor's budget has forecasted major events around the world and sees no need of change in the news... Wonder what were assumed in his budget plan?!?

SinGor, despite my holding in Puncak, I still like Pak Lah's strategic release of Anwar... Had it not for Pak Lah and Anwar's moves, we won't have much chance to speak so freely now... No doubt, PR has everything to do with Puncak's delay last year when trying to sack Khalid, but not sure if PR has anything to do with the delay now. Anyway, I have doubt Anwar's case can or will have any impact on the water asset disposal.
Glad to see EPF adding position in Puncak to above 5% now, hope to see more actions from EPF

SinGor, not intended to bomb you, but a water deal to save Anwar? LOL... To Najib or Pak Lah, a prime minister with a strong ex Dr. M, Anwar is both a threat and a mass destruction weapon. A weapon to contain M's influence and a threat to toppling BN. If there is any prime minister to even care to take Anwar's release into water deal, he would be either insane or damn stupid! Azmin would have been naïve to even consider... or another possibility, Extremely desperate

I am upset that Puncak management has not taken the opportunity to buy back shares, something that would, not only to offer shareholders confidence, allow its store of cash in hand through treasury shares

bull and shit relation?

hmm... losing faith or is Puncak going to delay the sale again?

2 weeks?

why sell when feb 09 is so close, unless you have no faith in Puncak getting the deal done before then?

I m happy with 3.80 - 4.20, but could use a 3.40 now

so many sellers @ 2.75

hng33, good to read your analysis...

If the water asset disposal is firm, the deal should bode well for Puncak, given that its cash per share will be at least 3.55 per share, not to mention that it has still other businesses that are not sold. Despite its potential PN17 status, why bother? So long that commodity prices are low, it should be even better for Puncak, i.e., the opportunity to grab commodity assets at low price. Unless the water asset disposal is called off, I have difficulty understanding why Puncak price is not even 3.50 yet.

Guess only the announcement of Puncak completing the Selangor water asset disposal will reverse the trend

To me, both state n federal want to address the water asset issue, but both fear being called rescuing/overpaying water companies

Guess the delay has nothing to do with Selangor state

http://www.themalaysianinsider.com/bahasa/article/puncak-niaga-jangan-cuba-lengahkan-jualan-air-kata-mb-selangor

Kerajaan negeri mengingatkan syarikat Puncak Niaga Holdings Berhad (PNHB) agar tidak cuba melengahkan penjualan asetnya kepada Pengurusan Air Selangor Sdn Bhd (Air Selangor) selepas tempoh rundingan pengambilalihan syarikat konsesi itu berakhir pada November 2014. Menteri Besar Selangor Mohamed Azmin Ali berkata, pihaknya mahu mendapatkan penjelasan punca PNHB mahukan masa yang panjang melebihi tempoh yang ditetapkan. "Saya tidak nampak keperluan Puncak Niaga untuk melengahkan bagi memuktamadkan perjanjian ini," katanya pada sidang media di Bangunan Setiausaha Kerajaan (SUK) di Shah Alam hari ini.

hng33, notice that too, thanks

jolie, well, you had earlier suggested "

probably the delay is due to syabas which has no assets. The pipes are owned by the state and only used by Syabas. Now the new state admin. want to find fault to press down the price.
It is different from Abbas and Splash which there are physical assets and can adequately measure and pass them to PAAB.
The price given to syabas may be divert to increase for splash."

That prompt me to suggest you must be on drug.

I can't, however, rule out money888's concern if its federal government having a budget concern. Though, I would assume price would have plunged already should that's the case. Given that the delay is only until Feb 09 and after considering what hng33 just posted, my best guess is that only some minor issues left to be addressed.

Frankly, I have too much stake in Puncak assuming cash will be there, so, in a way, I am way too drunk on my assumptions.

superb,

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1851961


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

On behalf of the Board of Directors of PNHB, Hong Leong Investment Bank Berhad wishes to announce that upon the written request of Pengurusan Air Selangor Sdn Bhd (formerly known as Temasek Tiasa Sdn Bhd) (“Air Selangor”), the Company and Air Selangor had on 14 January 2015 mutually agreed to an extension until 9 February 2015 for the fulfillment of the conditions precedent stated in the conditional sale and purchase agreement dated 11 November 2014.

This announcement is dated 14 January 2015.

jolie, the golden handshake is a CLEAR abuse of power. There could be some fishy dealings behind the water deal, I don't know. But for the water asset disposal to proceed, there are terms federal, state and private companies have to agree together, that's a totally different game. It would be a political suicide for Azmin to delay just for some small gains

Julie, you must be on drug to suggest that, and the Selangor state government would be crazy to even consider that...

yesterday's announcement should have been delayed till today, at least market perception would be neutral

not yet finalized, how could they have received the money? Hopefully within a month

doubt they will make it on jan 16, sigh!

I think its only fine details like what puncak can take back, how much debt owed by puncak can be waived (in the hoa/s&p, its said that puncak should be waived up to a maximum of 340 mln if I were not wrong). just have to wait a bit longer, hopefully within a month

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1850681
We refer to the announcements dated 11 November 2014, 16 December 2014 and 7 January 2015 in relation to the Proposed Disposals.

On behalf of the Board of Directors of PNHB, Hong Leong Investment Bank Berhad wishes to announce that the conditions precedent stipulated in the conditional sale and purchase agreement dated 11 November 2014 between the Company and Pengurusan Air Selangor Sdn Bhd (formerly known as Temasek Tiasa Sdn Bhd) (“Air Selangor”) have not been fully met. The Company is currently discussing with Air Selangor on a mutually agreed date for the extension of the date of fulfilment of the conditions precedent. Once both parties have reached an agreement on the matter, the necessary announcement will be made in due course.

This announcement is dated 13 January 2015.

the water asset disposal is being delayed, probably that's why

very interesting, if I were not wrong, I have yet to see an analyst report evaluating net cash per share after water asset disposal

guess its the falling crude oil price that drags down Puncak's share price

hng33, good guess

Think I buy on panic rather than hoping for high return

guess we both are, sigh!

bought @ 2.74, think I am crazy

fainted, it's truly a buy on rumor, sell on fact

big joke, towkay selling not for needing cash to exercise warrants lah... must be other reasons

I have been selling BJCorp @ 0.395 - 0.40 to buy Puncak @ 2.80 - 2.83 since yesterday. Hope this is not a stupid decision, sigh!

fainted, so many sellers, price failed to rise despite relatively high trading volume

at least climb to 3.20, alas