Posted by Icon8888 > 2014-03-06 20:54 | Report Abuse

Not really. Just imagine when the day come and license expire, what will the state government do ? Kick them out from the pumping station ? Then where to get water to wash underwear ?

Posted by member41 > 2014-03-06 21:37 | Report Abuse

Announcement was meant for KPS. Doesn't look good.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1560513

Posted by member41 > 2014-03-06 21:37 | Report Abuse

OTHERS KUMPULAN PERANGSANG SELANGOR BERHAD (“PERANGSANG SELANGOR” OR "COMPANY") ADVANCE NOTIFICATION OF NON RENEWAL OF RAW WATER ABSTRACTION LICENSE ISSUED BY LEMBAGA URUS AIR SELANGOR ("LUAS")

Posted by member41 > 2014-03-06 21:39 | Report Abuse

Do u think they do this to make kps sell the two company to kdeb?

Posted by sudahkena > 2014-03-07 07:51 | Report Abuse

State gov..... mau tarik tali...

Posted by iafx > 2014-03-07 11:58 | Report Abuse

cannot extract water will never happen, unless state gov wants to return Selangor to fed under emergency act :D

Posted by sudahkena > 2014-03-07 12:00 | Report Abuse

If accept... rm2.8 bill.... wow...special div.... I think director already made calculation..

Posted by sudahkena > 2014-03-07 18:10 | Report Abuse

Anwar guilty... so projek air?

Posted by Wee Shiong Cheong > 2014-03-07 21:17 | Report Abuse

they can use anything to get what they wan. Anwar, I salute you

Posted by sudahkena > 2014-03-10 20:09 | Report Abuse

But only kps..... other like want higher return on equity..

Posted by sheep > 2014-03-10 20:10 | Report Abuse

But puncak still stuborn hard nut. So still no deal. will drag on for another year?

Posted by Dylan1027 > 2014-03-10 20:48 | Report Abuse

Accepted and how's the price will be for the stock?

Posted by member41 > 2014-03-10 21:04 | Report Abuse

Sure accepted. The licenses will expire soon so no choice.

Posted by iafx > 2014-03-10 22:07 | Report Abuse

without puncak/gamuda, although kps accepted the offer but it will not get anything until the whole deal is done.

Posted by iafx > 2014-03-10 22:21 | Report Abuse

bcos it's useless without the water distribution (syabas). let alone gamuda & the "individual" controlled 70% splash. kps stake is no use unless puncak/gamuda go ahead. kps by accepting now, might miss the opportunity of any increment.

Posted by longterminvest > 2014-03-10 23:43 | Report Abuse

Angelina2, u don't understand the issue. Iafx is absolutely correct in his analysis, there is no deal if syabas doesn't accept ghe offer! Be more humble

Posted by carefulinvestor > 2014-03-11 01:50 | Report Abuse

i dont side iafx or longterminvest but angelina2 u miss d point. As iafx said, syabas is integral to the water migration program.who said? go n read amresearch report many months ago, may be before u follow this counter.

Posted by Dylan1027 > 2014-03-11 09:25 | Report Abuse

seems that puncak do not agree vf the deal brings the impact to KPS as well..

Posted by sudahkena > 2014-03-11 09:27 | Report Abuse

We should back to the fact.... with lisence expired.. I think khalid more serius ths time... wait the detail of mou.....

Posted by Dylan1027 > 2014-03-11 09:46 | Report Abuse

angelina2 : Thx for the information.. Let's wait for the news...

Posted by iafx > 2014-03-11 09:48 | Report Abuse

kps is the least consideration of kdeb as it holds 60% of it, kps last q result already in negative territory (-2.7)

Posted by sudahkena > 2014-03-11 09:56 | Report Abuse

Not same as ingenco.... waaa luka lama ingat kembali

Posted by iafx > 2014-03-11 09:57 | Report Abuse

looks like someone is deeply trapped :D

Posted by Dylan1027 > 2014-03-11 11:48 | Report Abuse

the selling q is 100% more than buying q..

Posted by sudahkena > 2014-03-11 12:14 | Report Abuse

Waiting mou... but fr yesterday announcement... kps will let shareholder vote at egm..

Posted by sudahkena > 2014-03-11 12:18 | Report Abuse

Also kps may default to pay bond due on april 2014.. tht may go pn17?

Posted by sudahkena > 2014-03-11 12:46 | Report Abuse

I just reas fr their yesterday announcement..... " may go pn17"... but I will holding until end of ths drama...

Posted by sudahkena > 2014-03-11 12:53 | Report Abuse

Yesterday announ.... under reason to accept the offer....

Posted by sudahkena > 2014-03-11 12:54 | Report Abuse

It not abt core biz... it abt bond due at april and ogos...

Posted by sudahkena > 2014-03-11 13:18 | Report Abuse

Let wait MB respon...... but now we enjoy div dulu... end ths month

Posted by sudahkena > 2014-03-11 13:32 | Report Abuse

:)

Posted by member41 > 2014-03-11 13:44 | Report Abuse

gamuda puncak both reject again

Posted by member41 > 2014-03-11 13:45 | Report Abuse

http://www.thestar.com.my/Business/Business-News/2014/03/11/Puncak-Niaga-and-Splash-reject-offer-from-Selangor-for-water-assets/

Posted by Dylan1027 > 2014-03-11 14:41 | Report Abuse

the longer the deal drag, the more complicated it is.. The water deals involved too make areas and companies. Seems tougher and tougher to get it done.. Insider seems know something and q to sell in huge quantity. Be careful..

Posted by iafx > 2014-03-11 15:02 | Report Abuse

so deeply trapped that talk also cannot talk properly already hahahhaaaa...

Posted by iafx > 2014-03-11 15:19 | Report Abuse

kps is very heavy debted, $1b short/long term interesting bearing borrowings, 3x vs its yearly revenue. therefore while there will be sp.div, but it won't be surprising high. there is no more viable biz left after this deal for kps until further notice.

Posted by Wee Shiong Cheong > 2014-03-11 20:18 | Report Abuse

heavy debt? how abt MAS?

Posted by samsoongyc > 2014-03-12 20:52 | Report Abuse

Once sold to kdeb can b debt free ?

Posted by samsoongyc > 2014-03-12 21:44 | Report Abuse

Great ! Holding to it.....

Posted by iafx > 2014-03-12 21:59 | Report Abuse

*Payment shall be in cash in respect of the portion ascribed to the equity contribution, as detailed in section 2.1 (iii) and (iv)

*the remaining value will be satisfied via the assumption of liabilities by PAAB

Posted by iafx > 2014-03-12 22:10 | Report Abuse

for the last time for those who is interested, becareful about what u read:

*Payment shall be in CASH in respect of the portion ascribed to the EQUITY CONTRIBUTION, as detailed in section 2.1 (iii) and (iv)

*the remaining value will be SATISFIED VIA THE ASSUMPTION of liabilities by PAAB -> **THIS IS NOT CASH**

so, how much only KPS get? half of it will flow back to KDEB some more. yr $ yr choice!

Posted by speakup > 2014-03-12 22:45 | Report Abuse

http://www.thestar.com.my/Business/Business-News/2014/03/12/Selangor-need-only-pay-RM7bil/

KUALA LUMPUR: The Selangor Government will only need to pay RM7.65bil following the Federal Government’s decision to invoke the Water Services Industry Act 2006 (Wasia) Section 114.

Under the act, it would enable the Selangor Government to take over the water concessionaires in the state.

In a press conference on Wednesday, the Selangor Government said Konsortium Abbas Sdn Bhd will get the higher value for its water assets and equity following its decision to accept the offer earlier.

However, equity portion is not included in the act.

This came after Puncak Niaga Holdings Bhd and Gamuda Bhd rejected the Selangor Government’s latest offer to acquire their water assets.
Kumpulan Perangsang Selangor Bhd, however, has accepted the state’s offer as expected.

Posted by speakup > 2014-03-12 22:47 | Report Abuse

Winners & Losers in this latest developement:
The winners = KPS
The losers = Puncak & Gamuda

Posted by samsoongyc > 2014-03-12 22:58 | Report Abuse

All very confusing ! Any idea what is the value after everything settled ?

Posted by speakup > 2014-03-12 23:01 | Report Abuse

http://www.thestar.com.my/News/Nation/2014/03/12/Khalid-Three-Selangor-water-firms-must-accept-new-offer/

SHAH ALAM: The three water concessionaires in Selangor that had rejected the RM9.65bil offer by the state government to buy over the companies will now be forced to accept an offer that is about RM2bil lesser.

This is following the Federal Government's decision to invoke Section 114 of the Water Services Industry Act 2006, which allows the state government to buy over assets of the concessionaires for RM7.76bil.

Disclosing this, Selangor Mentri Besar Tan Sri Khalid Ibrahim said that Konsortium Abbas Sdn Bhd (Abbas), which had accepted the RM9.65bil offer on Tuesday would, however, be paid that amount.

"This is because out of the four, only Abbas accepted the offer while the rest will have to accept what is being offered now," he told reporters after chairing the weekly executive council meeting on Wednesday.

Asked if the management of the concessionaires would be changed, Khalid said it was not a need to do so, adding that only the shareholders were to be dropped.

He also said that by invoking Section 114, it was impossible for the concessionaires to seek international arbitration now.

"The state (government) had offered them more but they refused, therefore, now they will have to make do with what's offered to them," he said, adding that the water restructuring exercise would take not longer than three months.

Khalid said the concessionaires, once bought over, would be operated by state subsidiary, Kumpulan Darul Ehsan Berhad.

On Tuesday, the Energy, Green Technology and Water ministry had said that it would exercise its powers under the Act to allow the Selangor government to takeover the three concessionaires that had rejected the initial offer.

Both governments had signed a memorandum of understanding, which agrees that the Selangor government buy over Syarikat Bekalan Air Selangor (Syabas), Puncak Niaga Sdn Bhd (PNSB), Syarikat Pengeluar Air Selangor Holdings Bhd (Splash) and Abbas.

While Splash had rejected the offer, Syabas and PNSB had said that they were willing to consider the offer with several conditions.

On the multi-billion ringgit Langat 2 water treatment plant, Khalid said the development order had been approved and that it was expected to be completed in less than three years.

He also said that the memorandum of understanding between both governments on the water matter would be declassified after the state legislative assembly next month.

"The documents will be made available but it cannot be reproduced in any form," Khalid said.

Posted by member41 > 2014-03-12 23:20 | Report Abuse

Looks like kps win haha and arbitration not allowed for the rest under section 114. Tricky deal.

Posted by stkoay > 2014-03-12 23:25 | Report Abuse

While Rafizi felt that it is a step in the right direction in terms of consolidation, he said PKR will have to make sure that the federal government will not use the opportunity to overcompensate the concessionaires.



Rafizi described the invoking of the law as a "double-edge sword" as the state would have no say in setting the compensation amount.

Posted by stkoay > 2014-03-12 23:26 | Report Abuse

http://www.fz.com/content/govt-should-not-overcompensate-water-concessionaires-says-rafizi

Posted by beLIEve > 2014-03-13 01:03 | Report Abuse

angelina2, have you ever wondered why the share price has not increased since the deal was announced? I'm sure there are a lot of experts out there who knows the calculation and push the price upto a fair value, but this did not happen.

I observed that someone has been buying alot at around 1.87 today.

Sold mine at a small profit a couple of weeks back because I got in at a high price in Jan and took a ride down to 1.56. Don't think I want another ride. Am surprised that it's not going up further though. Perhaps it's a complex deal?

Posted by carefulinvestor > 2014-03-13 02:10 | Report Abuse

angelina is provoking iafx to explain d deal cos he obviously dont understand. why u talk about30% in splash held by kps if khalid said he is no more payingfor the shares but only water assets? dont wag yr tonge before u got it right