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

it is not at 52 week low, it's at all time low since IPO. Have thought about buying below 3, luckily I didn't

kkc88, did the finance dir mention exactly how much cash and cash equivalent ex-debt will Puncak has after asset disposal and special dividend? I have been expecting somewhere around 3.90 which is why I have been holding

truth is, kind of disappointed, was expecting at least 3.10-3.20 today, sigh! we just can't fight the big guy

mshahrj,

yes, shares purchased until the day before ex-dividend date are entitled for dividend. The ex-dividend date has yet to be announced

sudahkena, how many sukuk will be converted? how much dividend? any indication on cash after dividend based on most recent financial quarter instead of FY2013? thanks

egm ended already?

any news?

I would rather the BOD commenting that they won't make acquisition just for the sake of keeping the listing status with all deals open to shareholders' review prior to making any decision...

Better deal concluded, my portfolio will suffer huge loss if not, given overexposure to puncak

This is a crazy market! Luckily bought @ 2.84

Bought some @ 2.83, hope tomorrow will start rising..

read some articles on Bloomberg, seems to suggest that current crude oil price may last a few months in order to test the shale oil competitiveness in the US... I can only hope that Puncak would spend some of its coffer to defend the share price. The shares purchased can always be kept in reserve for future purposes

VT is way too greedy, trying to max out his cash and credit...

A property without tenant paying reasonable rental is useless... focusing too much on asset value' will bring down the economy. Two examples, one in US in 2007 and long term downward pressure on Japan economy since late 90s, are good enough to warn us.

I have a target price between 3.80 and 4.20, failed to take profit twice because of that. Sobbing

3.40 soon?

Its not even .50 yet, and there are hopes of 1 - 2.50 already,real bullish.

hng33, thanks.

queued and bought 2000 shares at 2.89 just prior to market open, just to realize its now 3.05. curi ayam and got rewarded...

Happy & Prosperous 2015 to all

Alivetoinvest, aren't you a bit concerned? Despite the heavy buy back, price has nonetheless kept on falling... don't see bjcorp a long term investment opportunity, more like opportunistic trade

Happy & Prosperous 2015 to all

kind of hoping 62-72 cents within 2 weeks, wonder if that's possible?

also, in coming quarter, BJAuto will become an associate company rather than subsidiary company, another RM 1 billion remeasurement gain from such change in status will be recorded!

BJCorp just announced a 153 millions profits!!!

song123, when you said 20 lots, are you referring to 20,000 shares or 2,000 shares? I think Hng33 is assuming you are buying 20,000 shares...