If Rozali pull the plug on 13 July, the water restructuring deal can still proceed between states and fed minus puncak. If the deal is sealed then the 2 bil intended for Puncak will be use to pay Splash First and renegotiate with Puncak later. Jolie will be stomping her feet
hng33......of course stated 2 months thats the extension dateline. All this points to a full goodwill to finalised everything...KPS potentially to be play up soon in anticipation of a deal...
Agreed, but 2 month is too long, time is important for me to trade and reap profit in other potential stock in my radar list. Will no hesitate to jump back if Puncak deal become unconditional.
Remark: With PKR also join DAP to support former PAS member to form new party ' Harapan Baru' what will happen to PAS in Selangor? if some state assembly member jump from PAS into 'Harapan Baru', it will enable to form gov consist of DAP + PKR + Harapan Baru, a new Pakatan, kick out PAS from state gov !? After Raya, many drama is on the way.
We believe there is now more than an even chance that Gamuda will be able to raise the amount from the disposal of its 40% stake in Splash, instead of having to make a cash call as per our previous base-case scenario. This is following the signing on 10 Jul 2015 of a supplemental agreement to the master agreement between the Federal and Selangor state governments pursuant to the restructuring consolidation of the water sector in Selangor. We believe the parties hope to resolve the long-standing impasse within the next 60 days, including coming out with a revised offer for Splash that is acceptable to its shareholders.
Recall that Gamuda rejected an earlier takeover offer from Selangor state government (led by the previous Menteri Besar) that valued Splash in its entirety at only MYR250m vis-à-vis its book value of about MYR2.8bn and DCF valuation of MYR3.9bn. In our previous discussion with Gamuda, it hinted that it will seriously consider a revised offer from the Selangor state government, if it values Splash at “close to its book value”. For illustration purposes, Gamuda’s 40% stake in Splash would fetch MYR896m, MYR1bn and MYR1.12bn based on 0.8x, 0.9x and 1x its book value respectively. RHB Research
What is different between Rasuah and derma...a whopping RM 2.6 billion !!?? These sum of money is more than enough to take over Splash already, allowing it to control half of the Selangor, Putrajaya, KL treated water
Kps used to trade higher than half of puncak price, but, now it is lower at 1.34 vs. Puncak 2.73. Worth of buying now with next catayst revise splash offer price.
kps is still safe to buy... everyday people use water in selangor and growing. if splash not able to sell-out,,, somemore better.... kps retained earning will continue grow... currrent price is a grab. if drop to 1.00 in this bear market is a SUPER-GRAB. water business gross margin 60% above..... mana mahu cari ini business.
"merdeka" word is Sanskrit origin. Derived from "maharddhika" meaning "prosperous and powerful" Hopefully, this Merdeka Day will bring prosperous to all the kps shareholder.
hahaha, re-appear now !! since Puncak have more response, so more in Puncak comment, if KPS also have more people will also come back here more often :0)
Currently, holding both Puncak and KPS.
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jolie2
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Posted by jolie2 > 2015-07-01 16:00 | Report Abuse
This time is REAL one.