Posted by sudahkena > 2015-11-24 19:29 | Report Abuse

I'm waiting to buy 0.30-0.40 warrant at exdate..

Posted by kahhoeng > 2015-11-24 19:48 | Report Abuse

sudahkena, ex-date, puncak should trade at ex-Puncak price - 1.00 + (0.05-0.15) range. Currently, Puncak is traded at 2.85, assuming this is the price before ex-date, warrant should trade around 0.90 - 1.00 range.

Posted by kahhoeng > 2015-11-24 20:13 | Report Abuse

Based on most recent quarter report, cash + short-term investment = 403.5 millions, short and long term debt = 222.5 millions, of which 141.5 million is convertible sukuk, with warrants of another 36 millions yet to be converted. Assuming all warrants and sukuk are converted, net cash per share shall be at least (403.5 - 222.5 + 141.5 + 36 + 1555.3)/532.5 = 3.59. If not all warrant/sukuk is converted, net cash per share shall be much high, which I believe should be the case. Thus, an assumption of net cash per share of at least 3.80 should be right.

Posted by fairnreasonable > 2015-11-24 20:32 | Report Abuse

I must compliment Kahhoeng for being such a nice person - helpful, sincere, willing to share, and not abusive to others in the forum. Keep it up.

Posted by sudahkena > 2015-11-24 20:33 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4929661

Posted by kahhoeng > 2015-11-24 20:57 | Report Abuse

fairnreasonable, thanks. Just that my stake in Puncak is significant, so I have spent much time analyzing it. Since it has been completed, no harm sharing while hoping certain things that I have missed out will be pointed by others.

Posted by Ahbeng11 > 2015-11-24 21:00 | Report Abuse

Excellent analysis.

Posted by raniam > 2015-11-24 21:04 | Report Abuse

When is the dividen masuk account.anybody please

Posted by samsoongyc > 2015-11-24 21:13 | Report Abuse

23 Dec

Posted by projecti2016 > 2015-11-24 21:21 | Report Abuse

thanks for sharing kahhoeng.

Posted by annchua > 2015-11-24 21:37 | Report Abuse

Kahhoeng. .do you analyze kps?

Posted by sudahkena > 2015-11-24 21:47 | Report Abuse

Tomorrow list shariah compliance?? Last year 25 nov 2014..

Posted by kahhoeng > 2015-11-24 21:55 | Report Abuse

annchua, no, but hng33 is familiar with kps. Unfortunately, somehow he is angry with some of us, hopefully its not me, and has since refused to share his thoughts. Kind of miss him, a good trader equipped with both technical and fundamental skills.

What I do know is that upon selling ABASS, KPS will be debt free, leaving SPLASH to make sure its cash rich.

Posted by amma > 2015-11-25 09:05 | Report Abuse

puncak wb will limit down today...

Posted by samsoongyc > 2015-11-25 09:28 | Report Abuse

Yeah....waiting for all time low hehe

Posted by samsoongyc > 2015-11-25 10:08 | Report Abuse

Well....u wooooooooo so give u support

Posted by Ong Lie Chin > 2015-11-25 10:18 | Report Abuse

I throw away the 2300share in opening..1.48...I call to the office ...even last thursday till now won't have enough time for conversion...so it is really cheating investor!!!!!!!!!!!!!!!so those must not realize this to buy the wb....so this is fool or greed who know...anyway...thanks kahhoeng....you have been great help....and feel sorry for the people who bought it from me...maybe one day it will rise back or company buy back...good luck to you!!,

Posted by amma > 2015-11-25 10:27 | Report Abuse

ong lie chin....smart move..

Posted by kahhoeng > 2015-11-25 10:47 | Report Abuse

Ong Lie Chin, glad that I can help.

Something puzzling me yesterday. There are more than 260,000 shares of warrants transacted yesterday, while there are more than 110,000 shares transacted on Monday. Assuming 50% changes hand within the same day or the next day, that would still mean at least 185,000 shares are stranded without the right for special dividends based on the Tricor requirement of receiving forms on the latest Nov 25 5:00 p.m.

Meanwhile, while ex-date is Dec 04, the entitlement date is actually Dec 08, meaning those holding Puncak shares on Dec 08 will still be entitled to special dividend. From past records, it should take 5 - 7 working days for conversion, meaning those holding warrants on Nov 30 (meaning after taking into account of T+3, those bought today should still have a chance for special dividend.)

Anyway, just found the traded warrants yesterday fishy and unfair to small shareholders!

Posted by amma > 2015-11-25 10:53 | Report Abuse

limit down coming..

Posted by adam17 > 2015-11-25 11:24 | Report Abuse

kahhoeng, can u elaborate some on the exdate and the entitlement date?

means to receive the dividend, someone need to have the share in the account on dec 4 and hold it until dec 8 izzit? dec 8 5pm? or morning oledi can sell?

Posted by jjchan > 2015-11-25 14:15 | Report Abuse

Wooooo. Instant Cold doing not so Good. Limit Down this week ----Big boys leaving. Rotational small cap play.

Posted by sudahkena > 2015-11-25 14:54 | Report Abuse

I call register share since I already submit last Monday to convert... only ths friday will allotment to acc.... so slow

Posted by Ong Lie Chin > 2015-11-25 16:14 | Report Abuse

Warrant holder so pitiful,especially when they do not know the actual fact yet.....hopefully the company buy back from them...else...will be drop below a ringgit.

Posted by Roger123 > 2015-11-25 16:29 | Report Abuse

Will below Rm1

Posted by Roger123 > 2015-11-25 16:29 | Report Abuse

Moron only buy warrant

Posted by kahhoeng > 2015-11-25 22:18 | Report Abuse

I have written to Rosely of CIMB Research pertaining to his valuation of Puncak:

Dear Mr. Rosely,

I was reading an article dated Nov 24, 2015 on Puncak Niaga Holding Berhad (PNHB) that's written by you. In the article, you have mentioned that PNHB's fully diluted net cash shall be RM 1.81 post special dividend.

Based on the most recent quarter report, the following is what I have found:

(in thousands)
Current assets
Short-term investments 11,397
Cash and bank balances 392,150

Non-current liabilities
Loans and borrowings 179,850 (of which 141,537 is for convertible sukuk)

Current liabilities
Loans and borrowings 42,717

Its my understanding that there are approximately 33 millions warrants that have yet to be converted while the proceeds from selling Selangor water asset should be 1,554.3 millions (of which 1 million has been paid to PNHB.) In addition, the enlarged share base should be 534.554 millions.

Thus, before special dividend and post enlarged share base, I have come the following cash and cash equivalent of PNHB:

1,554.3 + 392.15 + 11.397 - (179.85 - 141.537(converted sukuk)) - 42.717 + 33 (converted warrants) = 1,909.817 millions

(OR, 1,898.42 millions if short-term investments are excluded)

And 1,375.263 millions post special dividend.

(OR, 1,363.866 millions if short-term investments are excluded)

Thus, net cash per share of PNHB shall come to RM 2.57 per share (1,375.263/534.554).

(OR, RM 2.55 per share - 1,363.866/534.554 if short-term investments are excluded)

The above net cash that I have concluded seems far off from what you have come up with. Would you kindly suggest as to where I have omitted or failed to realize?

Hopefully I will have further clarification from Rosely soon. Will let you guys know then.

Posted by edison2311 > 2015-11-25 22:56 | Report Abuse

Kahhoeng,may i know when is good date to sell?8dec?

Posted by jacklintan > 2015-11-25 23:56 | Report Abuse

upsidedown119: what's your standing on Puncak now?

Posted by jolie2 > 2015-11-26 09:32 | Report Abuse

this time roger is korek.

Posted by kahhoeng > 2015-11-26 09:45 | Report Abuse

Received a reply from Rosely of CIMB, and was told net cash per share should be RM 3.15 post special dividend instead after update. Though, reverse engineering using his numbers, I can only come up with RM 2.30 post special dividend. Anyway, I suppose my derivation is a better reflection while still believing that there is a high possibility that quite a significant amount of sukuk will not be converted into shares.

Posted by Ahbeng11 > 2015-11-26 09:52 | Report Abuse

Roger make use of the philosophy "when u think it fall, it will fly, when u think it will fly, it will drop". So he try to influence everyone here to think negatively 。。。

Posted by samsoongyc > 2015-11-26 10:59 | Report Abuse

Bogus Zen master...watch out !!!!

Posted by samsoongyc > 2015-11-26 11:49 | Report Abuse

Likewise....rocking to the bank haha

Posted by jjchan > 2015-11-26 12:32 | Report Abuse

Roger. Instaco going down the same path of XoX--------Run
Hng33 is still inside Hibiscs's Mud well. Give him another 2-3 weeks, i am sure he will dig
himself out. Usually hng33 don't take alot of risk but this time-----

Posted by jjchan > 2015-11-27 07:12 | Report Abuse

I am Oracle. Give tips to Run--- last week ( 2 limit down + 500M flying knives)

Posted by sudahkena > 2015-11-27 14:00 | Report Abuse

Puncak not include in shariah list.. ayoyo

Posted by sudahkena > 2015-11-27 14:00 | Report Abuse

Roger.. u selling??

Posted by sudahkena > 2015-11-27 15:11 | Report Abuse

Do u mean lth will make loss investment in puncak?? 40mill share if drop rm1.... how much?

Posted by sudahkena > 2015-11-27 15:11 | Report Abuse

But why no big selling??

Posted by jjchan > 2015-11-27 15:24 | Report Abuse

Roger sold less than 150,000 shares---Anyway he is history---

Posted by sudahkena > 2015-11-27 15:42 | Report Abuse

Ths counter bcome history....

Posted by stkoay > 2015-11-27 17:00 | Report Abuse

Getting cheaper.....
Why roger's friend didn't say.....buy more? :))

Posted by sudahkena > 2015-11-27 17:07 | Report Abuse

People sell.. roger buy... but now roger sell....same with me today..kah2

Posted by sudahkena > 2015-11-27 17:08 | Report Abuse

Roger sell at loss

Posted by stkoay > 2015-11-27 17:11 | Report Abuse

sudahkena is correct!
cerita sudah habis.......

Posted by jjchan > 2015-11-27 17:46 | Report Abuse

check all the last minute selling are done by small retailers---mostly 2K --5K. Only one 8K and one
10K. Basically all those that don't want dividend are selling. All those that want dividend will
be buying next week. Don't believe this cockamamie Roger about pressing for price. I have
seen LTH trading room in Jalan Ampang and also EPF. Just normal traders that read financial
reports all the times. lTH buys into many companies usually 5-15% max for diversification
if one goes down no problem. How do i know?? bcoz my previous CFO is from LTH ------haha

Posted by sudahkena > 2015-11-27 17:58 | Report Abuse

Roger.. fr the guidelines. . Lth should sell immediately after puncak bcome non shariah.. but now lth hold almost 1 year ...non shariah counter... maybe lth want take dividend??? Answer me roger...

Posted by sudahkena > 2015-11-27 18:00 | Report Abuse

The other one is current lth chairman n ceo is umno man.. heard they also ve some gossip.. some said they re more kapitalis (not follow 100% shariah law) ?????

Posted by samsoongyc > 2015-11-27 18:04 | Report Abuse

Roger still don't get it... i said m betting on Rozali . Puncak future depends on him not LTH