Gov't won't reveal S'gor water deal as it's not finalised
Energy, Green Technology and Water Minister Maximus Ongkili says the federal government will not reveal the water restructuring deal with the Selangor state government and the water concessionaires in the state as the deal is yet to be completely finalised.
On top of Fed gov to assume assets and liabilities of the concession, Fed gov is offer RM 3 bil (increase another RM 1 bil !!?? on top of previous agree RM 2 bil (splash only get RM 250m)....) for State to pay water concession equity portion. These increase RM 1bil additional could be likely for splash top up valuation :) ...but still short of RM 300m to match 2009 offer. If negotiations to be continue and final deal to be seal, splash most likely will accept offer price at RM 1.56 bil for equity portion
Hehe .. I guess gamuda share price will surge after get higher offer . Thanks hng33 ..for sharing the info . Gamuda . Puncak n kps shareholders huart ar ...
Puncak advances 2.1% on additional allocation from govt for Selangor water assets
KUALA LUMPUR (Nov 6): Shares of Puncak Niaga Holdings Bhd ( Financial Dashboard) rose at mid-morning on Thursday after it was reported that the Energy, Green Technology and Water Minister Datuk Seri Dr Maximus Ongkili saying that the federal Government had allocated an additional RM3 billion to help the Selangor state government take over the state’s water concessionaires.
The Edge Financial Daily reported that this was based on the premise that the “Langat 2 water treatment plant must go on”.
At 9.58am, Puncak added 2.10% or seven sen to RM3.40 with 23,800 shares traded.
RHB Research in a note Thursday said the additional coffers from the federal Government could potentially translate into an improved offer for Syarikat Pengeluar Air Sungai Selangor SB (SPLASH) to entice the latter’s existing shareholders including Gamuda to take up the offer.
“On Puncak per se, we expect net proceeds of RM1.56 billion from the proposed disposal (based on the state government’s latest offer) of its water assets and operations to remain unchanged.
“That said, we are positively encouraged as this latest development could help to accelerate the completion of the proposed restructuring in its entirety,” it said.
I've sold about 80% of my holding, realize handsome 15% gross profit first, another 18k pocketed.
Depending on share price movement and further news confirmation, if uptrend continue or profit taking set in, sending price weakness back, may opt to buyback some for short term trading purpose.
yup .. bear in mind the NTA of the company which is higher than current price .. it is totally undervalued and its prospect may go far higher than the current price
My idea is simple, exactly what have already highlight by minister,
' the agreement content element including negotiation price which still yet finalize.....concession water are listed company (Puncak, KPS, Gamuda) which is answerable to shareholder.....do not speculate (as it affect share price).......'
Clearly, Minister get caught by its own word...carelessly disclose out of his intention that Fed offer RM 3 bil for state to buy concession equity......notice that what he said yesterday have cause share price fluctuation.....due to his incidentally leak confidential price in the agreement to the media, resulting creating speculation in share price yesterday...
Then, today, as a politician and minster, the simplest way to rectify the issue is just deny what have said yesterday lor.
I've yet to decide to re-enter at current price, still monitoring first. But, you have right to make own discretion decision. In the meantime, i've bought JAKS at 56sen today for Langat 2 exposure.
‘Federal govt only paying RM2b for equity purchase’
KUALA LUMPUR: The Energy, Green Technology and Water Ministry has clarified that the Federal Government is not giving any additional sum on top of the RM9.65 billion offered by Kumpulan Darul Ehsan Bhd to take over the four water concessionaires in Selangor.
The four are Syarikat Bekalan Air Selangor Sdn Bhd (Syabas), Puncak Niaga Sdn Bhd, Syarikat Pengeluar Air Selangor Holding (Splash) and Konsortium Abass Sdn Bhd.
The offer was part of the negotiations for the restructuring of the Selangor water services industry.
Of the amount, up to RM2 billion is set aside by the Federal Government through Pengurusan Aset Air Bhd (PAAB) to help the state government purchase the equity portion of the concessionaires, the ministry said in a statement yesterday.
The RM2 billion transaction will be done through the transfer of the Selangor government’s water assets to PAAB.
These water assets will then be leased back to the Selangor government, as is the normal practice in the restructuring of the state water services industry.
“Therefore, the government is not giving an additional sum on top of this RM9.65 billion. The RM3 billion mentioned in (a recent) press conference includes the additional RM1 billion the Federal Government has spent or is spending for mitigation measures to resolve the water supply problem in Selangor,” it added.
For the takeover of the four concessionaires, the total amount remains at RM9.65 billion.
Minster today have clarify in more detail that what have mention in previous press that Fed allocate RM 3 bil instead of RM 2 bil is in actual accord to MOU and HOA, in which additional RM 1bil is mitigate measure to resolve the water supply problem after suffering rationing water in last 3 month ago. Therefore, assumption top up valuation still remain unclear.
Nonetheless, splash still will renegotiate with State and fed to determine final valuation which is acceptable by both parties, Alternatively, splash could remain as concession until expire term in next 16 year. Remain sideline, awaiting for clear picture.
Good for Puncak and KPS as new MB urge to seal the deal by signing definitive agreement as soon as possible. KPS is following Puncak path in anticipate to conclude the deal with Abbass (although splash faith remain unclear)
SELLLLLLLLLLLLLLLLLLLLLLLLLLLLL Don't kena trap. No more hot news already after puncak sign S&P. This kesian stock will move down starting today. Wait 10 months to close Splash deal. Success or not success also not sure .
Puncak got 1.00 dividend , kps habuk pun tarak. Syok sendiri saja in this morning surge,
Don;t expect got high dividend from Abbas sell. Maybe 5 sen only. Why risk your money inside this kesian stock ?
Roger 123, Aunty Jolie now jump to DRBHICOM thread and continue her smear activity. So pity for her can't get KPS at 90sen despite her tireless smearing effort :)
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MQ Trader 908 views | 6 d ago
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New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
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sudahkena
1,804 posts
Posted by sudahkena > 2014-11-04 14:04 | Report Abuse
Go..go.... masa nya sudah tiba?