hng33, I am still making losses in Puncak, my cost is 3.00 per share... A 20% switch to KPS could reduce my losses by 2.5% (I am leveraging in Malaysia stocks)

hng33, if I had listened to your advice and split maybe 20% into KPS while still keeping 80% in Puncak (It would be hard for me to switch more given my nature,) I would have made more mah. So, of course, 欲哭无泪啦！

hng33, I took your advice and read KPS quarter report. Knowing about KPS's involvement in SPLASH, thought I can take the profit from Puncak to buy some KPS later. Instead, 欲哭无泪啊, KPS is rising faster than Puncak.

Also, got burnt once by Puncak call warrant, decide not to touch given my naivety about Malaysia politics.

fainted, KPS up 14% while Puncak up only 7%. Thought KPS has SPLASH yet to be concluded and should face more uncertainties... Sigh, 股海无涯啊！

hng33, fainted, you are real quick in making adjustment! I usually need days to consider, and that's after another few days of reading news, quarter reports and relevant info on the stocks to adjust.

hng33, you are brave and scary
congratulations to all still holding!

hng33, managed to buy some this morning?

hopefully this is for real now! Also saw this on Malaysia Insider

http://www.themalaysianinsider.com/malaysia/article/water-deal-between-putrajaya-and-selangor-concludes-tuesday

The water deal between the federal government and Selangor government will be concluded on Tuesday, according to the Energy, Green Technology and Water Ministry tonight.

A signing ceremony of the deal will be held in Shah Alam between Pengurusan Aset Air Berhad (PAAB) and Pengurusan Air Selangor Sdn Bhd (Air Selangor) to seal four agreements under the restructuring of Selangor's water services industry.

In a statement released by the ministry, the four agreements are the Facilities Agreement, Lease Agreement, Rights of Use Agreement and Settlement Agreement, which are Condition Precedents to effect the Master Agreement for the restructuring exercise.

At the same event, Energy, Green Technology and Water Minister Datuk Seri Maximus Ongkili will hand over to Selangor Menteri Besar Mohamed Azmin Ali the Facilities and Service Licenses issued to Air Selangor.

This is the final Condition Precedent to the Master Agreement that needs to be fulfilled by the federal government.

"With the conclusion of the agreements and handing over of the licenses, the critical Condition Precedents would be completed and fulfilled.

This means the Master Agreement will take effect from September 9, 2015," the statement said.

With the Master Agreement in effect, Air Selangor can now hand over the required land titles with value of up to RM2 billion to PAAB in order for PAAB to provide the necessary funds for Air Selangor to take over the Selangor water concessionaires. – Bernama, September 6, 2015.

upsidedown,

418 million shares don't include warrant conversion as well as sukuk conversion. There are RM 140 over millions of sukuk convertible into Puncak shares @ RM 2 a share. 532 million shares is stated in the circular to shareholders with regards to disposal of Selangor water asset. Net cash in hand after conversion of 346.199 millions has not considered the proceed of 1,555.3 millions from Selangor water asset disposal. It merely reflects cash in hand after all sukuk and warrants are converted into Puncak shares. I include receivables and payables by treating them as cash because receivables is larger than payables, which is why I added RM 3.64 as net cash in hand if receivables and payables are not in the table.

My analysis earlier this year suggests RM 3.70, higher than current RM 3.57 due to losses in other businesses and added fixed asset. Hng33 should be able to confirm my analysis.

From most recent quarter report:

trade & receivable 176,570,000
short term investment 10,375,000
cash in hand 423,812,000
loans & borrowing (long) (182,977,000)
loans & borrowing (short) (42,941,000)
trade & other payable (216,023,000)
net cash in hand before any conversion 168,816,000
converted bonds (assumed full) 141,596,000
converted warrants (assumed full) 35,787,000
net cash after full conversion 346,199,000
proceed from water asset disposal 1,555,300,000
total cash in hand 1,901,499,000
outstanding shares 532,517,000
per share cash in hand RM 3.57 before special dividend

If excluding receivable and payable, per share cash in hand should be RM 3.64 per share before special dividend. Aside from this, Puncak should still have roughly RM 1.00 per share of fixed asset and an additional cash of RM 306,000 from disposing Hebei water supply co.

just asked google 大神，apparently Rozali and Najib are abang adik. Guess that's comforting news.

upsidedown, probably aim for 3.50 instead of 3.80. Even 3.50 is a high hope given so poor sentiment in market right now. Otherwise, you may never know if jacklintan is female or male.

6% is small compared to brokerage fee and stamp duty. Brokerage fee can be reduced if you don't use margin account and negotiate for best rate. stamp duty can be lowered only if you trade above 200K per share per day, something only big boys enjoy.

Wonder if Rozali is pro-Najib or pro-Mahathir?!?

Singor, thanks. Your info always comfort me :)

jacklintan, hng33 adopts a different approach to investment. Its hard to say on who's right or wrong. On a uptrend market, our hold and wait approach usually works best. On a downtrend, stkoay's probably is the best, having avoided all risk. On a yoyo trend, though, hng33 is the safest, especially so when he's able to sense the upcoming up-movement. The bigger issue is, who can time the market best? Guess there is no telling until the game ends, or when the players have decided to leave the table.

Frankly, I have initially adopted a sell to 30% cash last October had it not been the 'superb' opportunity (turns out to be a disaster) I 'sense' out of Puncak.

On insider trading, from my understanding, even the most 'liquid' market like US also can't avoid it. Even with heavy penalty, it still happens.

Current market situation, quite frankly, is not all that bad. Its more like half empty scenario. Quite some stocks have reached or near their 2007/2008 lows. Sometimes, when everybody is saying the worst is yet to come, probably its the worst already, unless its the Great Depression, which I doubt could happen given central governments around the world are more willing to print. Our nation is suffering of late, in my opinion, is due more to falling natural gas price, which is around USD8 per MMBTU, besides falling crude oil and palm oil. The commodity prices may not yet see their bottom, but most likely not too far given the replacement cost.

singor, when do you think the water restructuring will be announced completed? thanks

Trading so thin today, guess no announcement later

hng33, no, not yet, wanted to wait and see how Puncak does today. My hypothesis goes like this, oil will stay low for quite some time, at least until end of this year. Oil companies share price should be low for quite some time, good for short term trades or long term holding. Furthermore, my fund is pretty much tied up by Puncak already, and no harm waiting a few days to see its progress...

hng33, Tony Pua and Rafizi are one of them, just of different alliance.

jacklintan, I would be extremely happy if Puncak can cross 3.50 now, and crazily happy if it crosses 3.80...

只要坚持永不认输？

hng33, respect, keep up your good work. Enjoy reading your posts, they give me an impression that you are beating big bosses trying to screw us small shareholders.

2.58 now, guess my entry at 2.48 is a rather good move, hope this earns me enough to a short trip to Singapore... guess not, only 100 shares traded, sigh!

upsidedown, you can find the list of 100 largest market cap companies on the Star business section every Monday. Maybank is over 80b while Tenaga is only 62b

hng33, well said "only realized profit is real"

Singor, Wah, thanks for the good news!

very interesting, I tried twice with each purchase of 3000 shares of Puncak @2.48; and immediately, its sold down to 2.47 with 400 shares and 300 shares respectively; wonder why's the reason?!?

hng33, agree Maybank is rather cheap

hng33, I didn't know if foreigners will keep on buying, can only read the past records and hope for the best. Frankly, so tied up in Puncak now, can barely buy anymore. Sigh!

foreigners having been buying since last Friday, two days continuously, hopefully this is a good starting point!

hng33, just check, you are actually right, its 狗嘴里吐不出象牙...

Hng33, think its 狗嘴里长不出象牙?!?

cheoky, good luck with that. I was wrote them TWICE about MAS crash impact on MNRB, guess what, no reply!

our government is very geng leh, no yellow shirt with bersih... a big joke around the globe!

i just check, Splash has water treatment plant capacity of 2000 MLD valued at 1.58 billion while PNSB's capacity at 1931 MLD valued at 1.35 billion. Is it because Splash is highly leveraged that it's getting little for its equity compared to PNSB?

Singor, agree, but still I dislike azmin more

Don't think Khalid cares if the deal is fair, his exit from pkr is ugly with humiliation. Politicians are human too, n particularly greedy & selfish (I m not referring to statesman)

Singor, Khalid waiting to fire more if splash bid is higher

Singor, thanks. How come you know so much one, fainted!

Recently reported news seems to point to a deal completed soon. Yet, Puncak share price has yet to show response, wonder if investors have lost faith in this deal?!?


http://www.themalaysianinsider.com/malaysia/article/restructuring-doesnt-mean-end-of-free-water-says-selangor-body

Restructuring doesn’t mean end of free water, says Selangor body

Selangor's water restructuring exercise will not hamper its free water programme, state-owned entity Pengurusan Air Selangor Sdn Bhd said today, although it will still proceed with a study to analyse water usage to ensure the programme benefits intended recipients in the lower-income and needy group.

Air Selangor's chief executive officer Suhaimi Kamaralzaman said there was no plan to discontinue the free water programme, echoing a statement by Selangor Menteri besar Mohamed Azmin Ali recently.

“Domestic premises in Selangor will continue to enjoy free water even after the ongoing restructuring water industry exercise is completed, as mentioned by the menteri besar. There is no plan to discontinue the programme," he said in a statement today. googletag.cmd.push(function() {googletag.display('div-gpt-ad-1400601790726-3');}); But Air Selangor would go ahead with an in-depth study on the free water programme which began in 2008, he added, and present findings to the state government and stakeholders.

"This is to ascertain whether the free water programme actually benefits the intended users, particularly lower-income earners, less fortunate and families as well as those requiring long-term medical assistance."

Suhaimi added that the majority of households in the state did not pay for water if they used less than 20 cubic metres. Azmin had on August 17 said the state government might have to review the free water programme as the subsidy for those who could afford to pay for water was "unfair".

He said the state wanted to ensure the targeted groups benefited from free water and invited Selangor assemblymen to debate the matter.

Azmin also said that a review did not mean the state would abolish the free water programme. Selangor is in the final stages of restructuring its water industry under an offer to take over four concession companies for RM9.65 billion.

From the RM 9.65 billion, Putrajaya is allocating RM2 billion to the state government to take over the equity in the four companies, Suhaimi said today.

The state will then transfer the same amount in water assets to a water management board, Pengurusan Aset Air Berhad (PAAB), which will lease back the assets to Air Selangor.

The balance of RM7.65 billion will cover the outstanding water-related debts owed by the four concessionaires – Puncak Niaga Sdn Bhd (PNSB), Syarikat Bekalan Air Selangor Sdn. Bhd. (SYABAS), Syarikat Pengeluar Air Selangor (SPLASH) and Konsortium ABASS Sdn Bhd (ABASS). – August 27, 2015.

Hng33, thanks. Anyway to value kps & its nta, cash position after restructuring?

No religion affiliation, n have no intention to have one, at least for some foreseeable future

our politicians are hopeless lah... Unfortunately, I am not Muslim and have no intention to become one, otherwise can pray to Allah, read an article saying some Muslim Brunei believe Brunei's oil is due to praying to Allah...

hng33, may I know why are you choosing KPS instead? I have been trying to evaluate KPS based on announcement, but no information is available on restructuring's impact on KPS for the analysis. Seems like KPS is stuck with SPLASH valuation?!?...

Shameless Azmin ignores the facts n put selangor water supply at risk all because of politics

upsidedown, that would be great! the higher the merrier.

hng33, your rules are hard to follow leh! still, thanks!

upsidedown, I never believe in a relationship that's transferrable on conditions, haha... anyway, wish our Puncak share price will be at least 3.50 pre special dividend of 1 per share

upsidedown, thought jacklintan already said 'his/her' name is Jack and you still have hope?

Singor, thanks for the update