Singor, I am not worried about deal being totally canceled. I sold my BJCorp and others to buy Puncak in hope deal will be concluded early January. Now saddled with shares left to government mercy, I can't really decide if to let go now of those additional stocks purchased or to hold on... Guess need to see how the government and Puncak board will respond the next few days to decide action

Anwar is good at giving speech but lousy with execution, I never like his work then during economic crisis nor when he's education minister.

Anwar will never be released earlier unless foreign pressures or extremely heavy local protest lah.

Hng33, with state n federal fighting about water issue, deal or no deal, its impossible to price by fundamental lah

One thing for sure, if puncak price shoots up by the end of the day, a deal is closed, otherwise we will stay at this price for sometimes until sky is clear

Don't think state will be kind towards puncak, best scenario now for puncak is either fed, compromises, fed take-over or fed-assisted winning in court demanding payment from state

singor, alas, there is a will there is a way. Anything is possible in this Boleh Land. best is still both fed and state compromise while Puncak gets paid, and state, fed, and we all shareholders happy together...

roger, thanks

roger, n both state n fed expect puncak to sit still while they fight?

my guess, should Selangor state walk out, fed will speed up court case to show muscle to allow puncak collecting compensation from state

http://tefd.theedgemarkets.com/2015/FDsetia/FDsetia_20150309iakoi5.pdf

fainted, saw edge reported today that Selangor state government is possibly going to refuse an extension to allow a change in the master agreement

lets hope the deal will be completed within 15 days, best wishes

haha... just write to release stress, not so keen about selling till the deal is concluded and price goes up

EPF selling over 300,000 shares in 2 days, wonder why the move? Would have thought EPF keep on buying instead, sigh!

hng33, even with EPF and LTH, they will only control around 57%... been trading between 2.7x and 2.8x for a few days, wonder if its good or bad

hng33, Rozali has only 42% before the potentially enlarged capital base, I guess it would be hard to achieve. A share buy back should help alleviate shareholders pain of seeing its price at this ludicrously low level though

hng33, I see, thanks. a lack of initiation/effort by Puncak's BOD?

Puncak should seriously consider share buy back to show shareholders some confidence

question is, can we trust them? They are politicians and their records are really, really bad

buying in the open, selling in the closing, any hypothesis?

alas, who is selling again as if Puncak water deal is delayed for ever, when EPF is still accumulating?!?

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1892073

Acquired 26/02/2015 300,000

hope the share price is not reflecting another delay, sigh!

at least EPF is showing sign of interest and keeps on buying

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1891641

Acquired 25/02/2015 153,400

Hng33, yummy, will keep for a few more days, see how thing goes, has a 2.90 cost, doubt will sell at this price

hng33, I got an estimate of 3.67 cash, 4.61 net asset after full conversion of convertible bonds and warrants based on 2014 4th quarter report. I derived the above figure simply by taking out the convertible sukuk, asset/liability held for sale while adding back the sale proceed of 1.5553 billion. Hope your figure is right.

hng33, I think the asset revaluation surplus is 50.6 million and is reflected in the comprehensive income already if we are talking on the same thing

titus, if deal is off, good luck to us, doubt Selangor state government is willing to allow water tariff increase or compensate Puncak according to contract. If I were not wrong, Puncak was facing cash flow problem when PR took over and enforce a lower water tariff. Hopefully, with recent development, should deal off, Puncak's suing Selangor will be processed swiftly in court.

roger, Puncak water deal is not yet completed, Achilles' heel? Also, there is no certainty how Puncak would spend its over 1 billion cash after Selangor water asset disposal, another concern?

sorry, used the wrong potential shares outstanding of 545 million, should be 534.3 million... based on the most recent quarter report, after asset disposal, conversion of warrants and convertible loan, net asset per share shall be 4.61 per share while cash or equivalent shall be 3.67, assuming 534.3 million shares outstanding after all conversion

alas, with so many words from these politicians, how could one have faith in what they said? Only certainty is when Puncak announces a completion of deal. I won't trust any word from these politicians anymore, BN or PR - all leeches.

titus, are you referring to this one?

http://www.bernama.com/bernama/v8/ge/newsgeneral.php?id=1111719

Ongkili Optimistic Selangor Water Restructuring Can Be Finalised By March 9
PUTRAJAYA, Feb 25 (Bernama) -- The Minister of Energy, Green Technology and Water (KeTTHA) Datuk Seri Dr Maximus Ongkili is optimistic that the main agreement on restructuring the Selangor water supply industry can be finalised by March 9 after being postponed twice previously.
He said he would have a meeting with Selangor Menteri Besar Mohamed Azmin Ali if several isues that were raised, especially the issue on the acquisition of water assets could not be resolved by then.
"The problem arose because there are assets in Semenyih and Bukit Nenas which were originally known as Selangor state assets but upon closer scrutiny, they belonged to the federal government.
"Although land belongs to the federal government but infrastructure belongs to the concessionaire, thus they are of the opinion that it can be used as collateral...So, this can be discussed together and I have not given up," he said.
Ongkili disclosed this to reporters after attending the Green Technology and Climatic Change Council (MTHPI) meeting chaired by prime minister Datuk Seri Najib Tun Razak at the Perdana Putra Building, here today.
The main agreement on the Selangor water industry restructuring which should have been finalised on Jan 12 was postponed to Feb 9 and again to March 9 following the transfer of water assets between the state and federal governments.

http://en.selangorku.com/21244/cm-no-extension-for-concessions-to-finalise-the-water-structuring-agreement/

IJOK, 22 Jan: There is no extension for any concession companies, including Puncak Niaga Holdings Berhad (Puncak Niaga) to finalise the Selangor water structuring agreement.
The Chief Minster, Mohamed Azmin Ali, said that all processes on the matter will take place, as prescribed.
“I have given the final decision; it must be completed in early February on the date agreed.
...
Prior to this, Air Selangor Sdn Bhd was asked to give an explanation regarding the delay in Puncak Niaga finalising the Selangor water structuring agreement.
The offer by the Selangor government to acquire 100 percent of shares in Puncak Niaga (M) Sdn Bhd (PNSB) and 70 percent of shares in the Selangor Water Supply Company (SYABAS) was accepted in principle by Puncak Niaga Holdings Berhad (Puncak Niaga).
The decision was notified to Kumpulan Darul Ehsan Berhad (KDEB) through a letter dated June 6, 2014, with a net cash consideration amounting to RM1,555.3 million.

Saw the above old news, can't help but wonder when politicians will stop blaming others? The said news had led to me wonder what has gone wrong with Puncak before, just to discover that its politics that delays the deal's completion after Puncak's announcement early Feb

I don't think the government has to buy all water treatment plants for a restructuring plan to work, but they will definitely need to buy the distribution network, which syabas owns...

SinGor, If everybody starts selling, every stock collapses lah...

Deal completed soon? Thrilled...

Given current share price and news, guess no investor will believe in anything until an official announcement saying the asset disposal is completed?

I saw the news and posted it in hope to cheer up the rest still holding the shares. Frankly, till the asset sale is completed, anything is possible, Malaysia Boleh mah!

http://en.selangorku.com/22006/selangor-water-structuring-to-be-completed-in-march/

Selangor water structuring to be completed in March


SHAH ALAM, 21 Feb: The Selangor water structuring will be completed this March, said the Selangor Exco for Agricultural Modernisation, Infrastructure and Public Amenities, Zaidy Abdul Talib.

“Currently, the water structuring is at the final stage and will be completed in March. We already have the date,” he said when contacted by Selangor Kini today.

He explained that this new structuring will have a positive impact on the management of water supply in the state.

Previously, the Selangor Pakatan Rakyat (PR) government, during the administration of the former Chief Minister, Tan Sri Abdul Khalid Ibrahim, began the acquisition of the water management in the state from four water concessionaires in the state.

Although this effort was initially agreed by the concessionaires involved, a solution was finally found last year.

The Chief Minister, Mohamed Azmin Ali, after taking over the helm of the state administration after Abdul Khalid, continued the effort for the interests of the people in the state.

truth is, I like Azmin way of handling Kidex, not Puncak though... He should have been frank about State and Federal issues that delay the deal, not Puncak!

No wonder fengshui masters are making so much, interpretation at will

happy Chinese new year to all n best wishes to puncak progress after new year

hng33, sorry but have to say this, excellent news

Can only hope for deal closed soon

-1.12% is collapse? since when?

going to be very boring until big buyer coming in or when good/bad news arises

annchua, you have to take into consideration of debt ratio, rate of growth, etc. before coming into conclusion though. High growth and high debt ratio without dividend is alright when the company is in the right field at expansion mode. 0 growth with 0 debt/lots of cash without dividend is the worst of all! If I were not wrong, Puncak situation is due to water tariff disagreement between state and contract Puncak signed before PR takes over the state government

annchua, yes, agree totally

seems like EPF still accumulates Puncak shares with good support today

guess the best weapon to push the water deal is another water crisis and rationing, sigh!

I don't think they need splash to close the deal. it would seems to me company owning the water network is the most crucial, the rest comes down to pricing and 'connection?'