Posted by goodguess > 2015-09-09 10:30 | Report Abuse

wild card will catch many by surprise just like KDEB privatisation. Kps will be privatise as DEIG is coming.

Posted by hng33 > 2015-09-09 10:48 | Report Abuse

Surprise!! of course, it is wild card...but it all depend on Azmin wisdom

Posted by Jinny > 2015-09-09 11:11 | Report Abuse

Selangor state government like to let kps continue generating cash from the water sector . I think they must have some planning about this . Just wait n c . . Splash Abbas is cash cow for those who holding this company . I think everyone rather to delay the deal much than sell it on time .

Posted by SinGor > 2015-09-09 11:15 | Report Abuse

DEIG has a loan of 500mil from a local bank(source Raja Petra) and with proceed from Splash sales--KPS can be privatised ( but have no idea how it can done--money is there)

Posted by jolie2 > 2015-09-09 13:00 | Report Abuse

kdeb holding about 60% of kps .
total share - 500 millions. balance 40% or 200 mil shares offer at 2.50 only need rm 500 mil.
consider now our ringgit devalue 20%... this means it only need $400 mil if pay in usd.
current selangor reserve is about 3 bil ... should not be problem to takeover.
kps average net profit is 100 mil per year.... need just about 4 years to pay back the 400 mil.

Sap-sap sui for kdeb to take-over.

Posted by sudahkena > 2015-09-09 13:31 | Report Abuse

Someone need to bisik azmin to privatise kps...

Posted by jolie2 > 2015-09-09 13:43 | Report Abuse

since us dollar so strong, probably a US fund manager can sapu at least 30% or 150 millions share at 2.50 or rm 375 mil which will equal to about usd 88 millions only.

then this fund manager can negotiate with selangor govt to sell back at 3.50 making a handsome profit of 30% margin. Easy profit.

Now us dollar so strong.... it may be waiting for acquisition from external party to take over a huge majority if azmin did not take this chance to protect their share.

azmin..........WAKE UPPPPPPPPPPPPPPPP

Posted by jolie2 > 2015-09-09 13:46 | Report Abuse

example ... is integra.... suddenly tenaga offer good price and take-over integra and delisted it for this strategic asset.
don;t play-play. Strategic asset is worth a lot. Don;t simply sell cheap your share.

Posted by Wiwangwang > 2015-09-09 14:01 | Report Abuse

Everyone faster buy puncak it will fast to settle n get good return in this few week . I don't think state government will privatise kps . Because last time when privatise khsb why not straight away privatise kps .

Posted by SinGor > 2015-09-09 14:04 | Report Abuse

Wow. jolie2 can be Azmin's financial advisor. Surely we will benefit alot

Posted by sudahkena > 2015-09-09 14:11 | Report Abuse

Yess.. I dont think privatise kps is one of their option...except azmin advisor is Jolie or same thinking. ..

Posted by jolie2 > 2015-09-09 14:15 | Report Abuse

aiyah... other investment bank analyst also say privatise.
You don;t percaya, refer to my previous comment-lah.
You think i;m really expert-meh. I also follow other investment bank say-one

JL Investment Bank

Posted by jolie2 > 2015-09-09 14:18 | Report Abuse

i better contact Jho Low to find some one from arab or get paris hilton to sapu the 30% .... since us dollar so strong.

Posted by jolie2 > 2015-09-09 14:29 | Report Abuse

last time integrax was at 1.50 ... suddenly tenaga offer 3.25 for this strategic asset

now kps is 1.33 ..... if i'm warrent buffett.... i will sapu all the 40% at 1.50.... then sell to kdeb for 2.50

Posted by jolie2 > 2015-09-09 14:35 | Report Abuse

you all don't sell cheap-lah.
Want to sell cheap, go to pasar malam or chow kit road to sell-lah.

Posted by traderman > 2015-09-09 17:38 | Report Abuse

buy buy buy ... 1.3-1.31

Posted by beautiful_life > 2015-09-09 18:45 | Report Abuse

jolie2 , you faster faster ask US fund manager cepat-cepat sapu then negotiate with Selangor goverment to sell back at 3.50 then we can celebrate with Moet champagne

Posted by posby > 2015-09-09 19:45 | Report Abuse

Back 1.50 i more happi den 3.50... 1.50 baru cakap

Posted by jolie2 > 2015-09-09 21:31 | Report Abuse

this report is from the edge date 19 Aug 15.....looking forward for privatise and special dividend as mentioned on it.

WITH a new master agreement, which has an early September deadline, possibly ending Selangor’s water impasse, Kumpulan Perangsang Selangor Bhd (KPS) is poised to become a cash-rich company without a core business.

On July 10, Selangor and Putrajaya signed a supplemental agreement, which extended by 60 days the master agreement that was inked last September to finalise the restructuring of the state’s water supply industry.

If all goes well, and once the sale of KPS’ water assets is approved by shareholders, the group stands to gain close to RM3 billion cash from the transaction.

To recap, in March last year, KPS accepted the offer of parent company Kumpulan Darul Ehsan Bhd (KDEB) to buy its 90.83% stake in Titisan Modal (M) Sdn Bhd — which controls Konsortium ABASS Sdn Bhd — and 30% equity interest in Syarikat Pengeluar Air Selangor Holdings Bhd (SPLASH) for RM990.2 million and RM1.83 billion respectively.

KDEB, which is Selangor’s investment arm, owns 57.88% of KPS.

A fund manager, who declines to be named, feels that the minority shareholders of KPS (fundamental: 0.80; valuation: 2.40) should remain invested in the stock and wait for a possible special dividend from the sale of its water assets.

“KPS is getting about RM337 million or 67 sen per share for ABASS, based on the latest equity offer. If the new offer for SPLASH is at a one-time book [value] of around RM2.8 billion, its 30% stake is worth RM800 million, which is bigger than KPS’ market capitalisation,” he says.

The fund manager’s figure for ABASS is net of its loans while his estimate for SPLASH is based on Gamuda Bhd’s book value.

It is noteworthy that Gamuda (fundamental: 1.80; valuation: 1.40) had rejected the takeover offer from the Selangor government for its 40% stake in SPLASH for RM250 million as the company believes its equity interest should be sold at its book value of RM2.8 billion.

“If the sale of SPLASH comes through [based on Gamuda’s book value], we may be looking at a little over RM1 dividend per share,” the fund manager estimates.

Recall that in September 2013, KPS paid out a special dividend of 26.67 sen per share, amounting to RM99 million. The dividend was funded by the proceeds from the divestment of its 56.57% stake in Kumpulan Hartanah Selangor Bhd for RM212.8 million cash to KDEB.

As at March 31, KPS had total assets of RM2.81 billion. Its cash and cash equivalents stood at RM65.74 million, with borrowings of RM997.34 million.

For the first quarter ended March 31, 2015 (1QFY2015), KPS saw a net profit of RM20.26 million compared with RM23.27 million in the previous corresponding period.

Revenue was also lower at RM69.01 million compared with RM73.09 million a year ago due to lower contributions from its infrastructure and utilities, and hospitality sectors.

In FY2014, net profit fell 54.4% year on year to RM130.27 million while revenue slipped to RM314.03 million from RM316 million.

The infrastructure and utilities segment, which houses its water business, contributed the most to the group’s revenue and profit at RM220.77 million and RM90.6 million respectively.

“With the impending divestment of ABASS and SPLASH, the group is actively pursuing new investment opportunities to ensure that its performance continues to be profitable,” KPS says in its 2014 annual report.

With earnings dragged down as many of its profitable businesses have been taken over by KDEB, some quarters believe it’s only a matter of time before KPS is absorbed into the state investment arm through a privatisation exercise.

It is interesting to note that KPS had last year divested its 49% stake in KDE Recreation Bhd, the owner and operator of Kelab Darul Ehsan, to Berjaya Vacation Club Bhd for RM12.82 million.

KPS had also closed Quality Hotel Shah Alam in Plaza Perangsang, to make way for a redevelopment project, and the Brisdale International Hotel to facilitate refurbishment works.

Furthermore, the group shut down Perangsang Templer Golf Club to facilitate the joint redevelopment of the golf course into an environmentally friendly mixed-use area through a partnership with S P Setia Bhd (fundamental: 1.60; valuation: 2).

KPS also has interests in the oil and gas and telecommunication sectors. However, both businesses had yet to generate any revenue in FY2014. It is unclear if the group intends to develop them with the proceeds from the sale of its water assets.

The counter closed at RM1.37 last Thursday for a market capitalisation of RM688.63 million.

Posted by jolie2 > 2015-09-09 22:40 | Report Abuse

latest amresearch report on gamuda regarding splash.

Gamuda - Water deal inked – now eyes on SPLASH
Date: 09/09/2015


- We maintain our BUY call on Gamuda with an unchanged fair value of RM5.80/share. This pegs the stock at a 10% discount to NAV/share.

- The Selangor water impasse appears to be drawing to an end with the signing of four agreements between Pengurusan Aset Air Bhd (PAAB) and Pengurusan Air Selangor Sdn Bhd (Air Selangor).

- The four agreements are:- (i) facilities agreement; (ii) lease agreement; (iii) rights of use agreement; and (iv) settlement agreement.

- We understand that these agreements are essentially conditions precedent (CPs) to effect the master agreement that was signed almost a year ago.

- More importantly, the signing of this landmark water pact between the Federal and Selangor governments would likely trigger renewed hopes for Gamuda to realise its water investments in SPLASH.

- Based on our estimates, Gamuda’s water businesses (i.e. Gamuda Water and SPLASH) account for ~RM1.4bil (RM0.59/share) or 9% of our NAV.

- We retain our earnings estimates for now pending more fresh leads on SPLASH.

- Furthermore, we foresee further upside for Gamuda coming from the MRT Line 2 (MRT2) and Penang Transport Master Plan (PTMP) projects.

- Assuming Gamuda has a 50% stake in the Project Delivery Partner (PDP) consortium for the PTMP for a contract value of c.RM9bil as well as an equal stake over the tunneling works/PDP for the RM28bil MRT2, Gamuda’s NAV is set to rise by RM1.26/share (FV: +19% from RM5.80/share to RM6.95/share).

- We nevertheless believe prospects of any special distributions arising from the disposal of its water units largely hinge on the capital requirements for Gamuda under the upcoming MRT2 and PTMP projects.

- Construction works for MRT2 could kick off by mid-2016, and 2017 for PTMP.

Source: AmeSecurities Research - 9 Sep 2015

Posted by sudahkena > 2015-09-09 23:58 | Report Abuse

Yup.. I also confused lately how analyse / research house find the figure...

Posted by hng33 > 2015-09-10 00:04 | Report Abuse

We need to rectify the apparent wrong information, analyst are in not position to responsible their report to reader here. Therefore, don blindly follow, ya

Posted by SinGor > 2015-09-10 08:23 | Report Abuse

Political Rumour Mill is suggesting Splash sale will be done within 30 to 90 days spear head
by Wan Azmi for survival if Pakatan falls in next election for the folllowing reasons
1) Bersih 4 is pushing Malays voters to Pas and Umno
2) Dap is pushing Pas to join Umno
3) If Najib falls in 2015 then Election will come in 2016 (Umno has a 50/50 chance in
winning back Selangor
4) Wasia will be used to finnish Off Wan Azmi.

Posted by jolie2 > 2015-09-10 08:49 | Report Abuse

strong dollar will create many takeover and acquisition by us fund. Also the right time for selangor govt to use their reserve in us dollar (if they have) to takeover kps. Very cheap now with the weak ringgit.
warren buffett start attacking with his huge fund
http://www.thestar.com.my/Business/Business-News/2015/09/10/Therere-dozens-of-countries-I-would-like-to-buy-in-says-Buffett/?style=biz

Posted by jolie2 > 2015-09-10 16:58 | Report Abuse

i think azmin will structure DEIG in such a way after take-over kps

Group 1: Property Development
Group 2: Telecommunication
Group 3: Infrastructure ( operation & maintenance of water asset, road repairing, highway concessionaire)
Group 4: Oil and Gas
Group 5: Education, Hospitality.

This DEIG will be the "Khazanah" of Selangor.
Don;t play-play with Azmin. He will get Datukship this year Dec during Sultan Selangor birthday.

Posted by jolie2 > 2015-09-10 17:03 | Report Abuse

i think azmin can be the next PM if opposition win the next election (since anwar too old already).

Don;t play-play with him.

Posted by SinGor > 2015-09-10 17:03 | Report Abuse

Datuk Azmin what price you offer to takeover KPS

Posted by jolie2 > 2015-09-10 17:15 | Report Abuse

so far azmin appointed as MB , he has presented very well, good personality , work well with the fed and diplomatic. Journalist also like him and they always write good on him... Got good future ahead.

Posted by posby > 2015-09-10 17:48 | Report Abuse

Rm 10.00 offer. Price.. lol

Posted by SinGor > 2015-09-10 19:54 | Report Abuse

RM2.50 enough but must paid in 30days time

Posted by jolie2 > 2015-09-10 20:53 | Report Abuse

i think Dr Yu of YNH property is buying kps.
he like to accumulate this type of value stock and prevent the major shareholder to privatise it. Just what he have done on quek leng chan of hong leong capital.

Posted by posby > 2015-09-10 21:10 | Report Abuse

Wa splash belum settle.. come in another YNH.. jolie i really salute .. very optimistic..

Posted by jolie2 > 2015-09-10 22:07 | Report Abuse

another optimistic item; tomorrow the share price will close at 1.33

Posted by jolie2 > 2015-09-11 11:53 | Report Abuse

KPS SAYANG.
TOLONG NAIKLAH, SAYANG

Posted by posby > 2015-09-11 12:19 | Report Abuse

Kena Pergi Selatan...lol

Posted by jolie2 > 2015-09-13 11:12 | Report Abuse

deig is clean

The MACC today said it has cleared Selangor's controversial Darul Ehsan Investment Group (DEIG) of any corruption offence.

In a press statement, Selangor MACC director Simi Abdul Ghani also brushed off accusations that the graft-buster had done nothing on the matter.

He said MACC has probed DEIG in a proactive manner soon after the media on Aug 19 reported on alleged irregularities in the Selangor-owned entity.

It then interviewed a few witnesses besides examining all the relevant documents.

"At this stage, MACC did not find any wrongdoing under the MACC Act 2009," said Simi.

Controversy erupted when it was announced that the newly formed RM2 paid-up capital firm will be taking over the management of state assets under Mentri Besar Incorporated (MBI) which in turn will be wholly- owned by DEIG.

This raised concerns of the opposition in Selangor who said they feared this would lead to the misappropriation of funds.

He, however, said MACC will take appropriate action if fresh information surfaces and is covered under MACC Act.

Zakat probe still on

However, he added that the probe against DEIG in relation to making zakat payments without authority would still continue.

MACC investigated firm in July for allegedly paying out RM5 million in zakat (tithe) when it had yet to start operations.

According to its official website, DEIG, which was registered on June 5 will only be fully operational in the first quarter of next year.

Posted by sudahkena > 2015-09-14 14:00 | Report Abuse

No need warrent buffet. .. najib can buy kps..


https://sg.news.yahoo.com/malaysias-najib-delivers-4-6-billion-boost-stock-044904523--business.html?linkId=17010754

Posted by number12 > 2015-09-29 12:59 | Report Abuse

1.20 coming support...

Posted by hng33 > 2015-09-30 09:34 | Report Abuse

Bought KPS at 1.26

Posted by hng33 > 2015-09-30 11:29 | Report Abuse

Accumulate more KPS at 1.26 with balance margin line

Posted by goodguess > 2015-09-30 11:36 | Report Abuse

i also join in.

Posted by ckk2266 > 2015-09-30 12:08 | Report Abuse

Bought some@1.26

Posted by hng33 > 2015-09-30 12:17 | Report Abuse

Welcome goodguess and ckk2266 to KPS. Based on past record, once water theme on, KPS will perform even better in turn of percentage gain than Puncak

Posted by Wiwangwang > 2015-09-30 12:21 | Report Abuse

Ok . What hng say is right . But what we know kps n gamuda still have another year to negotiate with state government . What we know puncak already at last stage for getting the special dividend . Lets us take profit from puncak first n switch to kps after get rewards from puncak stock . Everyone huart ar

Posted by number12 > 2015-09-30 12:25 | Report Abuse

no margin...

Posted by hng33 > 2015-09-30 12:31 | Report Abuse

number12

If wisely used margin, it can be great leverage and avoid miss opportunity. But of courses, margin is just temporary measure, will degear once realize paper profit and free up capital.

Lets imaging, if i have not used margin line to average down Maybank yesterday at 8.31-8.32 and bought back all Puuncak at 2.60-2.61, what will happen today !!?? sometime, need to a bot risk taker in order to turnaround portfolio and making handsome profit.

Posted by hng33 > 2015-09-30 12:39 | Report Abuse

Wiwangwang

Dual exposure is even better as both KPS and Puncak are group together under Selangor water theme. Even though Puncak will be first to seal deal, but KPS disposed Abbass is also going to materialize next soon and most important is that once Puncak deal is confrim, it will clear the uncertainty, next deal with KPS will be fast track and market should response positively and odds to REVISE and upgrade KPS as next target performing stocks

SPA will be sign between KPS and Air selangor to dispose Abbass first, follow by independent report and circular to shareholder, notice of EGM, EGM held, take over complete...paving way for KPS to degear, free up all liabilities debt related to water concession....then, it will follow by negotiation with splash, if book vlaue 1 x reinstated, then KPS will be boom boom

Posted by Wiwangwang > 2015-09-30 12:59 | Report Abuse

Ya . Azmin n. Sg selangor say kps Abbas will take over on next year Feb . N splash will have one year for negotiate. Correct me if I'm wrong ya . Thanks hng

Posted by hng33 > 2015-09-30 13:31 | Report Abuse

Correct,

Posted by number12 > 2015-09-30 13:48 | Report Abuse

i also bought KPS, but not encourage to use margin, T3 margin call, need to force sell, before the price go up...