ckk2266, see if you can buy at 1.83... think Puncak and warrant price will go up about the same amount until special dividend announcement is out...

hng33 will be back or back already, he is quick in action and good at sniffing opportunities

hopefully Puncak keeps on rising with special dividend announcement out this evening, wahahaha...

ks55, warrant holders are entitled to special dividend lah! Take a look at Kulim special dividend of 37.65 cents last year, the conversion price is slashed from 3.13 to 2.77, reduced by 36 cents.

wiwangwang, the conversion means nothing... Given that Rozali hasn't moved yet, I would assume either there will be plenty of time for conversion after announcement or the payment offered to warrant holders will be fair

roger, its not kali, its azmin that caused this! Delaying something that's unavoidable for nonsense reason. Only trying to stop playing politics after realizing that Rozali knows how to play water!

Tired of adding Puncak warrant without price appreciation while seeing those that I have sold to add Puncak kept rising... sigh, yet no choice but keep adding in hope interest in Puncak will come back soon

Roger, why don't you call Rozali for us?

Malaysia boleh, anything is possible...

Frankly, seeing the dismay Puncak price performance, almost want to use the F word already. This time on Rozali for inaction after disposal...

Really can't blame Roger's conspiracy theories, especially when the market is quite about Puncak's news despite the completed water deal. Besides, anal-ysts are mostly have a wait n see attitudes on Puncak after the deal, giving out crazy target prices. All the while, Puncak board also keeps quite n not invited for newspapers' to discuss the 'future' blah blah blah...

Nothing can be done but to keep on holding n can hope my math skills are still good n no mistake was done in sorting out it's cash position

epf is no longer substantial shareholder owning more than 5% and no longer required to report any purchase or disposal. I think lth holding is much high n serve no purpose selling now, particularly when its holding so much cash...

jacklintan, same feeling, sigh!

hng33, just saw the KPS deal to sell Selangor water asset. The whole deal manages to clear KPS of debt but the net asset per share actually drops. Its nothing comparable to what Puncak is getting leh...

BN_menang, interesting idea, due to a 'possibly' delay in special dividend, even when Puncak share price is trading at 25% discount to its cash position and totally ignore its other debtless asset, we should not buy in a hurry?

yeah, my order for Puncak at 2.79 was filled just now... Shocking! Hopefully will begin to turn tomorrow, sigh!

to meet shariah compliance, Puncak must NOT have more than 33% cash of which in conventional banking out of total asset (cash in Islamic account excluded in calculation.) In that sense, hng33's suggestion is not unreasonable... But I think the more important thing right now is to have Puncak announcing a date and amount to be paid out as special dividend!

Puncak has 1.7 - 1.9 billions CASH right now, depending on the warrants/sukuk to be converted, translating into 3.60 - 4.05 CASH per share. But then, anal-ysts propagating 2.90 CASH per share and should include a 5%-10% discount due to losses in O&G business.

Before anyone trying to suggest the cash in ONLY 2.90/share, could you kindly do some analysis on Puncak's latest quarter report before saying anything?!? It's annoying when one doesn't even attempt to conduct some basic homework and still claims to know everything...

What's more, after special dividend, Puncak shall still has 1.2 - 1.4 billions CASH, and assuming a modest interest rate of 3% per annum, the interests received itself will be 36 - 42 millions, more than enough to cover the losses in o&g industry. Frankly, totally has 0 idea why there is a need to put a discount on this CASH!

A recent ECOWORLD purchase of land of almost 1 million per acres in Kuala Selangor shall suggest Puncak has a minimum 280 millions worth of land convertible into property development given its landbank there of 280 acres, translating into 0.50 - 0.60 cash equivalent per share to Puncak. Even by developing this piece of land itself will easily take Puncak a busy 10 years property development opportunity without having to source a different business. When ECOWORLD purchased the land, ECOWORLD share price rises, while Puncak's landbank there is ignored... What to say, either Rozali has forgotten about his small shareholders or Rozali's reputation is really bad in the investment community to deserve the bashing!

hng33, I know, but your holding somehow is a reassuring news to me, haha... I actually bought some warrants yesterday, but not as brave like you, buying call warrants

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