Hng33, probably you are right. Still, I believe puncak is dirt cheap @ 2.58.

Hng33, after disposing water asset n dividend declared,puncak will still have over 1 billion cash. @ 3% interest, puncak shall earn 30 millions a year the least. Thus, puncak will post profit going forward for sure

If can sell puncak @ 3.74 & above, will add some Gamuda, under the hypothesis that Gamuda will be compensated some way or another

Real surprise its not even 3 yet. No faith in Azmin & ongkili?

Singor, better yet, drink water from toilet bowl, man, I m really mean

I was thinking 3 today,pai say

Yes, Azmin confirmed will acquire Puncak first by mid June in the edge. Hope Puncak share price will surge today

What to do? My hairs already wet, sigh!

Aiyah, simple, just cut water to istana & ministers offices claiming pipes not replaced as ordered by government.Then everything OK already

so quiet, is the meeting today?

Rlch, hng33 is doing a rather thorough analysis on Puncak, at least compared to me. Glad to see Puncak share price moves...

Rlch, probably hng33 can offer some ideas about the agreement then

if I were not wrong, water tariff should be much higher should contracts are enforced. Think its because water is state issue

To me, Azmin is not interested at all, otherwise, he would have called to make appointment, rather than WRITTING A LETTER. Though, like it or not, should there be a drought and water rationing become serious, they will move faster while claiming the other side is causing the delay... Sigh!

hmm... the best would be to lock Azmin and Ongkili into a room without washroom and deny release until a deal is sealed (by Selangor people?).

I have little faith in Azmin on the water restructuring too. Either he's truly loyal to Selangor people and deem the deal too bad for Selangor or he's real crook sabotaging a deal to benefit himself or PKR. I can only hope for a more decisive Ongkili to push through this deal to take Puncak shareholders off the responsibility to serve water to Selangor for humiliation.

My personal opinion, of course

Think puncak raising price is to only facilitate quicker resolution, at least that's how azmin sees it. Another possibility, ongkili will use wasia to compel azmin if he didn't compromise by then citing supply concern n high potential of much higher cost

Rich, I also didn't sell

Fainted, in & out so quick

Hng33, yeah, saw the bjcorp too, how high do u think it will go?

Well, with less water consumption per capita, whether by choice or by force, the scenario does suggest a relative advanced economy, haha...

rich, problem with BJToto is not much upside visibility compared to BJCorp. Think in Peninsular Malaysia, water is considered state affair while electricity is federal's. Otherwise, would you think Federal would let Azmin 'a chi a cho' until now?

Rich, BJCorp is not interested to delist Redtone, of course, through what I have read. Market rumor is to list UMobile through it - no idea how real this can be, given UMobile is not owned by BJCorp, only owned by VT personally.

annchua, no problem, just sharing what I know. Puncak is my choice of stock fearing bad market due to commodity mid of last year (fear of bad market is correct, stock choice is wrong), guess its a terribly wrong move, sigh! But my investment strategy has mostly concentrated on buying relatively large cap with low P/NA and dividend (one thing I don't like about Puncak is dividend record.)

bjcorp is a very high risk stock thanks to its big boss, Vincent Tan. A conglomerate with businesses spanning from gaming (gambling), property development and investment, big franchisee, auto dealership+assembly, etc. Its major subsidiaries include Cosway, BJToto, BJLand, BJAsset, BJAuto, BJFood, etc. You should be able to find these info through reading one annual report's chairman statement.

I like this stock mainly because (1) its currently highly undervalued (NA of more than 1.40 while price at .42) thanks to Cosway and BJLand not performing well (my best guess), (2) a dividend of around 2.4% (0.01 per share annually at the end of the year) - not much but comforting, (3) stock price at multi-year low (4) relatively large cap with around 2 billion market cap that usually mean won't go bankrupt easily.

Things I don't like about it include (1) bad boss who doesn't care much about small shareholders, (2) a lot of debt! (3) BJLand projects in China and Vietnam seem not doing well while those in South Korea and Japan are lacking disclosure (4) highly unpredictable share and financial performance (due to its investment style nature?-my best guess).

Singor, don't think EPF is done selling yet. Unfortunately, EPF is no longer a substantial shareholder and not required to report its holding.

rich, I wish I know, then I would be god of stocks, hahaha... personally, hope to read Azmin's response soon

rich, yes, but make sure u spend below 20... epf keeps selling, guess I will soon spend electricity below 20 too

Sorry, I mean we are not politicians in power. Most politicians tend to have the same symptoms 得意忘形

Alas, everyone is entitled to his/her opinion, we are not umno lah

roger, why are you so upset? don't think the share price will shoot up lah. if you are keen, you can surely pick up some before puncak share price rises. if you think the share price is too risky at current level, then you have made an excellent decision yesterday selling most.

Could the following scenario be possible?

Ongkili will now accuse Azmin for jeopardizing the whole restructuring and invoke WASIA against Selangor state to take over the whole restructuring without considering SPLASH offer to avoid Gamuda investors' concern.

Think it's just Puncak's scare tactic in response to Azmin shitty tactic... In the end, unless federal government is invoking WASIA to force Selangor state to comply, it will go on and on. Hope after this quarterly report that Puncak will announce a dividend.

my gut feeling is telling me this: azmin still lives in the '80s when the bureaucrats ruled and dictated the terms with those opposing them suffered the most. Hope he didn't think he is God at this moment

PUNCAK NIAGA HOLDINGS BERHAD
MEDIA RELEASE
11 MAY 2015

We refer to the conditional sale and purchase agreement dated 11 November
2014 signed between Puncak Niaga Holdings Berhad and Pengurusan Air
Selangor Sdn Bhd (formerly known as Temasek Tiasa Sdn Bhd) (“Air
Selangor”) (“SPA”) whereby both parties agreed on the Proposed PNSB
Disposal and Proposed SYABAS Disposal for a total cash consideration of
RM1,555.3 million.

The above SPA was signed with the full support and consent of the Federal
Government whereby it is the intention of the State Government of Selangor
to consolidate / restructure the water industry in the State of Selangor and the
Federal Territories of Kuala Lumpur and Putrajaya (“Selangor Water Industry”)
and for the Selangor Water Industry to be managed by the State Government
of Selangor (Consolidation / Restructuring of the Selangor Water Industry”)
and for the Federal Government to expedite the construction of Langat 2 and
the related trunk distribution system.

Under the terms and conditions of the SPA, all conditions precedent were
supposed to be fulfilled on 12 January 2015 (“Stop Date”) whereby upon
completion of the SPA, PNHB will hand over its water concession business in
Selangor under PNSB as well as SYABAS to the State Government of Selangor
and in return, the State Government of Selangor will pay RM1,555.3 million
to PNHB.

On 14 January 2015, this Stop Date was extended to 9 February 2015 and on
10 February 2015, extended again for another one (1) month until 9 March
2015 because there were still pending issues related to the water asset
transfer between the State Government of Selangor and the Federal
Government as well as the consent from Unit Kerjasama Awam Swasta, Prime
Minister’s Department (“UKAS”) on the sale of SYABAS were still pending.
On 10 March 2015, PNHB announced that all conditions precedent which
are to be fulfilled by PNHB have been met.

On 16 March 2015, the Board of PNHB agreed with Air Selangor to extend
the Stop Date for another one (1) month until 9 April 2015 to enable the
pending issues related to the water asset transfer between the State
Government of Selangor and the Federal Government to be resolved.
On 9 April 2015, the Stop Date was further extended to 11 May 2015 by
both parties for the fourth time.

To date, we understand that Air Selangor is still not able to fulfill the
conditions precedent in the SPA.

PNHB is currently seeking its Board of Directors’ decision to consider a fifth
extension of the Stop Date under the SPA. There is a high possibility that the
Board of Directors of PNHB may ask for an increased offer price for the
Proposed Disposals in view of the following reasons:-

i. The basis of the offer price of RM1,555.3 million from Air Selangor
under the SPA was derived by Air Selangor based on a 12% return of
investment calculated up to the financial year ended 31 December
2012. As such, PNHB has not been accorded with any returns for the
past two (2) preceding financial years for the financial years ended 31
December 2013 and 31 December 2014 and until to date.

ii. Over the past few months, PNHB had to forego and lost several
investment opportunities arising from the delay and uncertainty in the
completion of the SPA signed with Air Selangor in November 2014
which was supposed to complete in January 2015 as PNHB could not
confirm the respective opportunities in view of the uncertainty in the
completion of the SPA.

iii. In line with the Consolidation / Restructuring of the Selangor Water
Industry which is pending the completion of the SPA which had been
extended on month to month basis since January 2015, PNSB and
SYABAS had been directed to put on hold several critical and major
improvement plans on the operations of the water treatment and
water distribution systems. This has inadvertently caused unnecessary
hardship to the consumers leading to an unhealthy environment in
the State of Selangor and the Federal Territories of Kuala Lumpur and
Putrajaya. It had taken too long for both the Federal and State
Government to resolve this restructuring. Since 2008 till now, over a
period of 7 years, PNSB and SYABAS are not able to implement many
programs to improve their services as the instructions given by the
authorities are “Wait for the restructuring”.
...

well, I m still holding, am I pitiful?

azmin may cost PR Selangor state in coming election if water cut becomes an everyday problem in near future. hopefully azmin will come to his sense in coming few days. good luck to us all still holding puncak, sigh!

hng33, do you thing the water restructuring will be a long drag by selling almost all at 2.58-2.61?

Truth is, if I were Ongkili, I will no longer talk to Azmin until he had decided on the land issue. It would be a big joke if Ongkili were to meet up with Azmin and only to realize the same issue is being used by Azmin to politicize BN's stupidity/cronyism.

Singor, haha... if that's the case, I shall have you to thank. Of course, hng33 too. His detailed analysis is one among the few reasons that I am still holding

Singor, truth is, I don't think its in PR's best interest to delay, given that Khalid of PKR is the one signing. Pro-PR may claim Khalid is corrupted, but the fact is Khalid has been leading Selangor under PR's blessing for a 2nd term (Are PR's politicians that dumb that they can't realize Khalid's motive until the last minute - it would be a bigger joke if PR were to lead our nation in future only to claim that PR's prime minister is corrupted by BN). Also, if I were not wrong, Puncak and Syabas have been given the concession to run Selangor water with promised tariff increases that can be challenged in court if deal not honored. If our nation is to uphold governing by law, PR would have to honor the deal as is even if they were to rule in future. Otherwise, it would be a bigger issue. Look at Greece, do you really think Tsipras can just blame Greece's borrowing on corrupted ex-government and not honor them?!? It will kill Greece's economy and it would be very stupid of Greeks to keep voting for this kind of government!

I never like PR despite the fact that I vote for them. The most recent HUDUD nonsense is more than enough to prove. It's just that I am too fed up by BN keep using race and religion to shield away corruptions and justify cronyisms and inefficiencies.

Anyway, the best course for Azmin is to offer a swift restructuring soon by putting blame on BN while doing his best to run the new water company in the future and show public how effective PR can be. Otherwise, good luck to us, losing voting either side. Its like eating rotten apple (PR) after having too much rotten orange (BN). Both offering illnesses from rotten food, with the only exception that rotten orange is too boring already.

rich & money888, if Azmin is really into solving this water restructuring, he would have called Ongkili personally. From announcing his letter to Ongkili to requesting in public, his acts are nothing but acting and would not have any material effect. Its not to suggest buy or sell of this stock though. Personally, I am still holding, hoping for a change.

Truth is, I have little faith in Azmin in addressing the water restructuring

haha... a lot of opportunities on the black market if you don't mind hiding working low-end jobs, and many countries that would consider taking you in, so long you don't mind to marry their girls/boys. Indonesia, Laos, Cambodia, Myanmar, etc. The issue is, when looking to migrate, we are hoping for a better life, making us having tough time finding one better than ours yet within our budget, unless our skill set meet theirs desire.

Singor, you mean no money to migrate overseas?

Could this be good news to us?

http://www.themalaysianinsider.com/malaysia/article/selangor-to-decide-on-water-restructuring-issue-says-ongkili

Putrajaya has left the direction of the restructuring of the Selangor water supply industry to the state government after a master agreement failed to be reached on April 30.

Minister of Energy, Green Technology and Water Datuk Seri Dr Maximus Ongkili said he had written a letter to Selangor Menteri Besar Mohamed Azmin Ali on April 30 on the matter.

"It is up to him to settle the issue of transferring water assets and taking over completely the concessionaire of Selangor water as contained in the agreement," he said.

He added that Putrajaya would continue to be committed to finalise the restructuring to ensure security of water supply in Selangor, Kuala Lumpur and Putrajaya.

"Apparently, there are still obstacles at the state government level. So in the letter I said, 'the ball is in your court', and it is up to him to settle because on my side I have exhausted (all avenues).

"We have fulfilled our part and it is now time for Selangor to fulfil theirs but Putrajaya has not shut its doors," he told reporters after handing over excellence awards to 63 ministerial staff in Putrajaya today.

Ongkili, prior to this, said the Selangor government was given until April 30 to respond on the master agreement, after being postponed several times from the last deadline on January 12, following the problem of transferring two water assets in Bukit Nenas and Semenyih to Pengurusan Aset Air Berhad (PAAB).

He said Putrajaya was prepared to hand over the RM2 billion allocation to help the state government take over the equity of the water concession companies if it could provide other assets which had adequate value to replace the two assets in question.

According to Ongkili, at the meeting between officers on both sides, the Selangor government had identified four other water assets whose ownerships could be transferred but it could still not be finalised.

He added that the Langat 2 water treatment project and the distribution system would be continued, and Putrajaya would consider legal action if the Selangor State Government continued to postpone the issuance of permits for the project.

He said Putrajaya would defend the heads of agreement which was signed by both parties on the project because it was not subject to the master agreement. – Bernama, May 8, 2015.

jolie, I have a small heart, don't get me into heart attack...
singor, don't think anything bad will happen to 1MDB or Najib. Should M insist on his attack, it will only help to bring down BN faster. BN has PR to thank for. Had it not PR's weak alliance and lack or coordination in implementing policies, BN would have fallen faster. Not into politics or an insider, so just my personal opinion.

Singor, I think the money is being allocated, only that they can't pay more to Gamuda for Splash, which is probably why fed is not willing to negotiate further. I have no insider information, this is my guess

will the following makes us, Puncak shareholders, feel better? And my wishful thinking getting real?!?

http://www.thestar.com.my/News/Nation/2015/05/08/Putrajaya-Selangor-water-deal/

Putrajaya may take action against Selangor over stalled water deal

PUTRAJAYA: The Federal Government may have to invoke the Water Services Industry Act to compel Selangor to proceed with the state’s water restructuring exercise.

Energy, Green Tech and Water Minister Datuk Seri Dr Maximus Ongkili said such a move may be required for the sake of national interest and the people’s welfare.

He, however, added that pursuing legal recourse would be the last resort.

“We have not reached that stage yet because we are still open for discussion.

“I have written to the Selangor MB saying that the ball is now in his court.

“It is up to him how he wants the exercise to proceed,” Dr Ongkili said after presenting the ministry’s excellence service awards here on Friday.

The water restructuring agreement between Selangor and Putrajaya has come to a standstill due to a dispute over land ownership rights.

The parties have until Monday to renegotiate and confirm the deal.

jolie, waiting with no buy or sell is pretty much = numb to some extent already lah...