Azmin is now the minister in charge of foreign direct investment/ fdi Definitely he will settle the water fast with the new mb. If not , no foreign investor will come to selangor due to water issue. He will pay a good price to splash to settle this issue fast. No more stingy on this as this issue has been dragging for a decade. It show to foreign investor how incompetent of the fed if continue delay.
With Mahathir now adhering strictly to the Rule of Law, Azmin’s task has been made very easy...meaning to say, SPLASH's valuation will be at 1x book value (estimated @ 2.8bil). This is in tandem with the acquisition of the other 3 water assets, i.e. Puncak, Abas & Syabas.
KPS's share of 30% SPLASH would translate into some 800m or 1.60/share. Assuming current fundamentals of KPS reflects 2.00, this would mean KPS will be worth 3.60! Therefore, the price of KPS is greatly undervalued.
Currently, State and Fed are busy fine tuning the details of the agreement. Going forward, KPS will benefit immensely from alot of water related contracts.
Blue chip counter like tm drop until cannot recognize father and mother. Kps going to be the next blue chip counter with ph ruling for the next 5 years.
Those blue chip counter has been goreng too high during Najib time. Now sure down kaw-kaw. Kps has been depressed Kaw-kaw during Najib time. Now under ph, it is time to shine.
That’s why every cloud has a silver lining. Time for kps to shine.
What happen to the legal issue between Splash and Syabas (now under Selangor State)? Will they need to settle this first before any water deal can be completed?
Splash/Syabas litigation a Non-issue. Will be drop next month (just like you suing yourself) Gamuda just want to apply pressure to Selangor to finalise the Water Deal fast. Like Selangor pay 4.1B to Splash (receivable )then Splash settle the 2m electricity Bill
almost nobody sell bonus shares( i am also surprise). I think even LTH also surprise( everybody wants to buy cheap)-----Bonus holders are laughing uncontrollably to Bank
Selangor Government is looking to resolve the SPLASH issue by next month.
This news is certainly positive to SPLASH shareholders such as KPS and Gamuda. KPS owns 30% while Gamuda owns 40% and the remaining 30% owned by a private company, Sweet Water Alliance. Key issue in SPLASH was the valuation. Back in previous MB time (before Dato’ Seri Azmin Ali), Tan Sri Khalid Ibrahim offered SPLASH shareholders at a valuation of only RM250m, which represents less than 0.1x book value of SPLASH. This is too low as compared to offer of other water assets in Selangor such as Puncak Niaga Sdn Bhd (PNSB) and Konsortium Abass (ABASS) at 1.0x BV. Of course SPLASH shareholders rejected the offer. Till then no deal has been made between Selangor state government and SPLASH.
SPLASH book value worth RM3.3b.
Currently SPLASH’s book value worth RM3.3b. At 3.3b book value, KPS’s 30% stake in SPLASH is worth RM990m. This is equivalent to RM1.84 of KPS per share !!! More than current share price of KPS !!! Of course, the concern is now whether Selangor state government can actually pay at 1.0x book value. Well, if Selangor State Government wants to be fair, they need to offer SPLASH shareholders similar valuation as what they offered to PNSB and ABASS. This in line with our PM’s principle of “rule of law”.
No more political issue.
The key investors’ concern (i.e. politics) has now been removed. The federal government and Selangor state government is now in the same party and it is believed that the takeover issue will be resolved smoothly and quickly.
KPS’ business and fundamentals remain solid under strong management
KPS has been acquiring good and stable companies that are already generating steady income in the various sectors namely:
Century Bonds, market leader in industrial packaging, CPI (Penang) Sdn Bhd, fully integrated EMS provider, and 60% stake Kaiserkorp Corporation Sdn Bhd (“Kaiserkorp”), a license holder of strong brand Kingkoil. In a nutshell, investors should seize this opportunity given the fact that KPS is a direct beneficiary of soon-to-be resolved SPLASH issue. Finally, KPS’ value that trapped due to SPLASH finally can be realized soon. Technical wise, KPS is currently in the bullish trend which can go beyond RM2.11/share based on monthly chart.
Last time BN purposely pakat with Khalid to offer rm250 mil to take over splash bcos of 1mdb . Now Tun M will take back alll the money from 1mdb to offer splash the right amount of 1x book value. This is to prove that ph concern on the social welfare of selangor. Tun M will use the 1mdb case to explain the offer of 1x book value for splash later.
This 1mdb really cause selangor in the devastated state with selangor lack of foreign investment. That's why this ge14 the ph win more seat from selangor. The selangor people are not easily play out by Najib and their crooks team.
Now Khalid also like Jamal later will gone missing from msia. Khalid will shut up if later the splash offer is 1x book value. Now he don't have Najib to support him anymore. If not he will end up chasing by MACC.
Last time selangor offer 1x book value but suddenly this Khalid make a U-turn to make rm 250 mil or 0.09 x book value bcos pakat with BN . Maybe all the money go to 1mdb
2.75 is kps bookvalue/nta-----No Goodwill from selling Splash ( still got 16 year contract period)???
Theoretically kps should be trading above 3.30++ ( Bcoz Splash is generating Profit Compare to Puncak (loss making------Puncak traded around 3.00 before Deal Done )
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Posted by wwq84999 > 2018-06-19 20:17 | Report Abuse
Haha...tis time got 1.4 lo...come..come...down more baba