Posted by valour > 2017-01-23 20:55 | Report Abuse

r°moi
I cannot be negative lose a lot every share down Rm 1.00 . Its paper loss only but its ridiculous . That is why no matter what i will go to the SC meeting with kahhoeng . I feel its better to do it formally with a signed draft by a group . Sending email can be easily toss aside . Anyway to SC attn to who n email ? Used to be a passive investor haha

Posted by r°Moi > 2017-01-24 08:39 | Report Abuse

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Use it... use it


As the very first step.... email to SC MSWG Lembaga Tabung Haji...

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Posted by angiess > 2017-01-24 08:44 | Report Abuse

How about formally signed the documents then meeting with sc and go through 1 by 1 with them?? And can get more signatories maybe many can't attend the sc meeting

Posted by r°Moi > 2017-01-24 08:45 | Report Abuse

Investor Affairs & Complaints Department
Securities Commission Malaysia
No 3 Persiaran Bukit Kiara
Bukit Kiara
50490 Kuala Lumpur
Tel: 603 6204 8999
Fax: 603 6204 8991

E-mail: aduan@seccom.com.my

Posted by r°Moi > 2017-01-24 08:47 | Report Abuse

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MWSG


https://www.mswg.org.my/complaint


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Posted by r°Moi > 2017-01-24 08:51 | Report Abuse

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Lembaga Tabung Haji


http://www.tabunghaji.gov.my/hubungi-kami


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Posted by valour > 2017-01-24 11:22 | Report Abuse

r°moi
Tq for info

Posted by valour > 2017-01-24 11:27 | Report Abuse

angless
Was thinking that is the effective way ...many many signatories

Posted by rogers123 > 2017-01-24 15:09 | Report Abuse

Where is the icon888 who mentioned rozali is a capable business?

Posted by rogers123 > 2017-01-24 15:10 | Report Abuse

Businessman

Posted by rogers123 > 2017-01-24 15:10 | Report Abuse

Who agreed with icon888 tat rozali is a capable businessman? Plz vote

Posted by rogers123 > 2017-01-24 15:11 | Report Abuse

My vote is NO

Posted by kahhoeng > 2017-01-24 15:25 | Report Abuse

Dear all,

I have spoken to the SC with regards to meeting SC between Feb 14 and Feb 16 in the morning pertaining to capital repayment of RM 2.50/shares in exchange for our shares due to BOD mismanagement and a show of disregarding minority shareholders interests. I have told him to refer to this website for our conversation and rMoi's letter if she hasn't emailed it to SC. In addition, the anticipated number of participants will be 5 with another 3 not able to attend (additional 2, FAIRnREASONABLE and roger not certain with position.)

I have told him I was not able to ascertain the particulars of you guys and have asked for permission so you can call him. He has given his permission and his name is Mr. Sashi reachable at 03-6204 8999.

Mr. Shashi will get back to me in a few days on which date, most likely either Feb 14 or Feb 16. Anyhow, should know in a few days and will you guys informed.

Posted by kahhoeng > 2017-01-24 16:52 | Report Abuse

Dear all,

I have received a confirmation from Mr. Shashi of SC with regards to the meeting. The meeting will be at SC office at No 3 Persiaran Bukit Kiara, Bukit Kiara, 50490 Kuala Lumpur on FEB 14, 2017 at 9:30 AM.

Please call him to affirm your transportation. If you needed parking place, he will need to know ahead of time to get the parking permission for you.

Posted by csengc61 > 2017-01-24 18:24 | Report Abuse

Hi All,
I own 105,000 shares in puncak.
Let me lay down the bare facts on Puncak.

Puncak has a market capitalisation of 449M X 0.92cents= RM414M
But it has more than RM1,100M of cash and short term investment as of 3Q16
In addition, it has more than RM380M of other tangible assets and minimal borrowings.

To break it down further, each Puncak shares has RM2.50 of cash and RM0.85 of other assets.
It is precisely tis reason tat i bought into Puncak a few months back trusting tat Rozali and other board of directors will acquire INCOME GENERATING ASSETS AT REASONABLE PRICES
or DISTRIBUTE PART OF THE CASH BACK TO THE SHAREHOLDERS if they can't find any good biz.
But month after month , i see the cash pile being plundered to buy generating biz at INFLATED PRICES(acquisition of triplc)
or unrelated/stupid biz at questionable prices (proposed acquisition of plantation from shin yang)

Rozali and the board of directors has failed us, the minority shareholders of Puncak.

So i asked everyone to support watever kahhoeng and rMoi is doing and to contribute in whatever small ways we can.
Even if we don't succeed at least Rozali knows tat we the minority shareholders are watching and we are no easy pushovers.

Posted by FAIRnREASONABLE > 2017-01-24 19:34 | Report Abuse

Kahhoeng,

Can you get Mr Shashi's email contact please?
I want to write in to present a stronger case. My friend will also do so.

Well said, Csengc61. Let us minorities get together.

After SC, perhaps Kahhoeng or another champion can help to arrange a meeting with independent directors of Puncak.

Thanks to those who take positive steps. I can't attend the meeting with SC, but will certainly make submission via email.

Posted by csengc61 > 2017-01-24 22:19 | Report Abuse

Does anyone know what is Lembaga Tabung Haji average investment cost for Puncak?

If we know, then we can make presentation to LTH board as to why they are sitting on a large paper loss on their investment in Puncak due to poor management and foresight by Puncak BOD,
and to propose how we can come together to force the board of directors of Puncak to rectify tis.

If we can convince LTH to come aboard, then it wud be great!

Posted by angiess > 2017-01-25 00:51 | Report Abuse

Can kahhoeng setup an email address just for this purpose? So, a copy of the email can be forwarded to this email. So, to make sure no important issues will be missed out during the meeting.... as certain people writes in email to sc but can't attend the February meeting.
Is it possible ?

Posted by kahhoeng > 2017-01-25 08:20 | Report Abuse

been having difficulty posting just now, don't know why?!?

csengc61, I didn't use your username to make appointment with the SC. if you are concerned, whether coming or not to the meeting, call Mr. Shashi up to let him you know you are concerned investor.

FAIRnREASONABLE, SC has one and only one email contact: aduan@seccom.com.my. Email and call after email for confirmation should be enough. I believe your username has little value. Your true identity with SC should be meaningful though.

I have tried to message LTH, but with no reply. Guess they are not keen, but at least I have informed them our intent. Also, I have posted on investalks, hopefully there will be more joining.

Angiess, about email list, you don't mind posting your email address here? Or, do you prefer creating a temporary email address for this purpose?


PLEASE, TO CONCERNED INVESTORS, PLEASE CALL SC UP AND LET THEM KNOW YOU ARE A CONCERNED INVESTOR. YOUR TRUE IDENTITY WITH THEM HAS MEANING. I DON'T HAVE TO KNOW, NOR AM I KEEN TO KNOW. MAKE SC KNOW YOU ARE AWARE AND CONCERNED. I DON'T KNOW WHAT SC CAN DO FOR US, BUT WE SHOULD TRY. REAL UPSET WITH HOW PUNCAK BOD BEEN TREATING US, LIKE DISPOSABLE DIAPER!

Posted by r°Moi > 2017-01-26 08:04 | Report Abuse

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So....

Have you thought about this?

Are you dead serious about this?



As it is rather difficult for us to sign a joint partition...

We must all email in to make it sort of like a class action

Then... call them up for further actions...

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Posted by r°Moi > 2017-01-26 08:09 | Report Abuse

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One email from Kahhoeng plus one email by r°Moi is hardly class action......

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Posted by csengc61 > 2017-01-26 11:02 | Report Abuse

i will email to Mr Shashi at aduan@seccom.com.my by tomoro.
Let's to it together.

Posted by FAIRnREASONABLE > 2017-01-26 11:41 | Report Abuse

I shall email either tonight or tomorrow.
I shall call only a few days before Kahhoeng's meeting with Shashi. a friend also agrees to do the same.

Agree that a joint petition with personal identities and share-holdings revealed is difficult at this time. Let's at least send emails and make calls to SC.

I am still in favour subsequently to meet with directors of Puncak, perhaps facilitated by SC or MSWG.

Anyway, please don't be drag down by Puncak. I wish all a Happy CNY with your family and friends.

Posted by kahhoeng > 2017-01-26 12:12 | Report Abuse

FAIRnREASONABLE, I don't need you to reveal your identity to me, but I need you to reveal to SC. If you can't trust SC to tell them who you are, how do you expect SC to act on your behalf? That's why I suggest everyone, to attend meeting with SC or not, to CALL up SC. Let them know who you are and you are concerned over Puncak's share price and announced deals thus far.

To those who have agreed to meet SC, please make sure you attend or at least call. I don't want to give SC the impression that I am making up identities. Thanks.

I suggest meeting SC first before any resolution primarily because Rozali is holding 40+% shares in the company. Its difficult to get things right when the controlling majority shareholder is managing the firm.

Posted by kahhoeng > 2017-01-26 12:24 | Report Abuse

Those not willing to let others know who you are, you can always let SC know that you prefer not to have your identity revealed in anyway. I believe there's a clause of confidentiality. Plus, we are investing, and Malaysia securities market is definitely not Ponzi market or mafia market. So, don't be shy if we find injustice in the acts of a few majority shareholders and would like to seek action taken against them.

But you have to let SC know who you are, or how else SC can act? On behalf of some phantoms?

Posted by voon1900 > 2017-01-27 08:54 |

Post removed.Why?

Posted by FAIRnREASONABLE > 2017-01-27 14:23 | Report Abuse

I sent my email to SC.

Of course, kahhoeng, I included my name in the email correspondence. I can understand this fundamental requirement. I shall call Mr Shashi before the scheduled meeting.

Wishing everyone a successful Rooster year in Bursa.

Posted by kahhoeng > 2017-01-27 18:40 | Report Abuse

FAIRnREASONABLE, thanks. Best wishes to all in the Rooster Year. Even better when SC acknowledges our concern and Rozali was required to offer 2.50 capital repayment to shareholders seeking exit.

Posted by r°Moi > 2017-02-02 08:44 | Report Abuse

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Posted by r°Moi > Feb 2, 2017 08:38 AM | Report Abuse X

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Injecting major shareholders personal asset into a listed company


When it comes to this type of RPT... over valuation is the biggest concern of SC

To prevent major shareholder from taking advantage of minorities


And that is exactly... the sneaky plan of rxsxli... there will be interference by SC







Send in your email to SC... MSWG... Lembaga Tabung Haji... even to Rafizi...



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Posted by r°Moi > 2017-02-02 13:49 | Report Abuse

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Send in your email to SC... MSWG... Lembaga Tabung Haji... even to Rafizi... even MACC.. if need be


No worries


If Lembaga Tabung Haji... vote for this lopsided ill intentioned RPT... contract Rafizi.. even MACC

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Posted by r°Moi > 2017-02-02 13:51 | Report Abuse

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After intervention by SC... move a no confidence vote against rxsxli.. for this lopsided ill intentioned TRIplc RPT


Later maybe move for a special divvy

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Posted by 2016v > 2017-02-02 14:05 | Report Abuse

that how the market works as always, big fish eat small fish

the store, nta more than 6.00, privatised at 2.70, advantage to big fish

puncak, cash rich, no advantage to privatised by big fish, why need to privatised when he can use all your money

Posted by cheoky > 2017-02-02 15:12 | Report Abuse

no holding puncak no need advise shareholder. Hindsight i can talk till tomorrow. waste time. got puncak, fight with kahhoeng la. Be a part of catalyst. Who knows right... Btw call to Mr Shashi can quantify minority concern? Would it be better to drop an email? Can kahhoeng detail the intention of the meeting? anyway, Gong Xi Fa Cai to all.

Posted by r°Moi > 2017-02-02 16:50 | Report Abuse

2016v... the store case is acceptable because its major shareholder is playing by the rules...

Posted by r°Moi > 2017-02-02 16:52 | Report Abuse

Puncak case is not acceptable because its major shareholder is not playing by the rules...

Posted by CK888 > 2017-02-02 18:02 | Report Abuse

I have sent the complaint e-mail to Investor Affairs & complaints Dept, Securities Commission Malaysia this morning.( Copied & modified version from r*Moi Drafted sample )
By 4:33pm.today, I received the Acknowledgement reply from En.Mohd Sahrilnizam, Consumer and Investor Office, Securities Commission Malaysia.
I have done my part. I hope others will do so ASAP.
I couldn't join in to meet them bcos I would be away (overseas) from 12 to 20 Feb 2017.

Posted by lcwin > 2017-02-02 20:08 | Report Abuse

Sorry folk I feel for you guys, I have warned all of you about Roh jadi likely intention quite sometime ago. Well now that the plundering is ongoing there is nothing much you guy can do except to ride along n hopefully not badly bruised like what I been through with Gadek DRB hi con.
SC or MACCai won't do a thing oh maybe say we look into it...
In Malaisee Roh jadi is near godlike status, why do u think he get this water concession for peanuts, didn't do pipe replacement as promised n got a billions to sellout his potion.
Happy new year

Posted by FAIRnREASONABLE > 2017-02-02 20:20 | Report Abuse

Agree with rMoi that after SC a meeting with Puncak director may be organized through MSWG.
For those invested, we should be steadfast and not be swayed by outsiders' advices.
Like ck888, I received an acknowledgment the same day I sent my email.

Posted by dompeilee > 2017-02-03 09:32 | Report Abuse

Bought some Puncak @ 94.5c

Posted by CK888 > 2017-02-03 09:51 | Report Abuse

1 ) Do something (protest/make it a big issue) and don't let the cheater get off that easily.

2 ) Don't do anything and be slaughtered without knowing why...坐以待斃.. and the cheater will cock a snook at us, the minority shareholders.

The choice is YOURS.

For those who like to " splash cold water " Please be considerate.

Posted by cheoky > 2017-02-03 10:39 | Report Abuse

this draft by rmoi is good. of course, holder should come up with own thoughts.



Dear Sir

I am a minority shareholder of Puncak Niaga Bhd (Puncak).


I would like to bring to SC attention potentlial corporate governance shortcomings in Puncak's recently announced proposed acquisition of TRIplc Bhd (TRIplc), a related party transaction (RPT).


TRIplc is a related company of Puncak as both have Tan Sri Rozali (Interested Party) as the major shareholder.


I would to highlight to SC that a company by the name PEB has been set up by Interested Party to effectively privatise the listed TRIplc which have a market price at RM 1.90 at the LPD (even way lower prior) and the unlisted TRIplc is then to be sold to Puncak at RM 3.04 immediately. The unlisted TRIplc is 100% the same, in fact, is just the privatised listed TRIplc.


A company's fair value is not just all about its figures only. There are risks/concerns/factors which are non monetary and the market will price it accordingly taking these risks/concerns/factors into account.


I comment SC efforts in making BursaMalaysia a well established, well regulated open market where willing buyers willing sellers can take part in fair price discovery after taking all rewards/risks/concerns/factors into account. I believe this is also the basis for the mark-to-market policy.



PEB has the effect of getting around and circumventing the above.




In this regard, I would like to seek SC guidance on the following:



- Is this RPT at much higher than the market price fair to Puncak minorities?

Puncak minorities who want exposure on TRIplc can certainly buy TRIplc at RM 1.90 in BursaMalaysia. No need to buy at RM 3.04.

The Interested Party by all means should take TRIplc private with his personal resources if he thinks it is undervalued.



- Is PEB not against the whole purpose of having BursaMalaysia?

Circumventing a fair market price determined by a well established, a well regulated open market where willing buyers willing sellers take part on fair price discovery, freely, is just not right in relation to what BursaMalaysia and SC stand for.


- Puncak minorities are worried that they will be defeated by voting by proxies even though it is understood they have the right to vote against the RPT.

This is a real concern as the use of PEB itself clearly demonstrated that established rules have not been followed.

This concern also has manifested itself in Puncak's low share price at around RM 0.90 when it has cash in hand per share above RM 2 and NTA per share above RM 3.



Thanking you in advance.

Posted by cljy > 2017-02-03 11:20 | Report Abuse

i have sent to SC as well.

Posted by valour > 2017-02-03 12:51 | Report Abuse

Icwin
I can easily hold until the GE14 . Who knows we might get a "pleasent surprise" haha....

Posted by lcwin > 2017-02-03 16:13 | Report Abuse

I am not trying to disrupt any effort to get a fair valuations, in fact you should go ahead and try..just stating the facts.
I have indirectly advise u guys to stay away from buying Puncat quite sometime ago.
I been through this before and I go through the due process of what you are trying to do long ago.
Go look at what happen in the latest scam by another conman OSK boss screwing the PJ Dev minority investors. That was a good screwing done by old mad dog. He manupulates PJ Dev price in the open market to force a selldown of PJ Dev shares which he corners with his proxies.
I indirectly advise investors to sell PJ Dev then. To tell investors to sell is very difficult decision . Many will curse me if I make a wrong call which is inevitable in stock mrt.

Posted by kahhoeng > 2017-02-03 17:07 | Report Abuse

lcwin PJ Dev is a property company rich in asset, so it can be any value, that's why we have some 'specialist' adviser telling us if the deal is 'fair' but 'unreasonable' or 'unfair' but 'reasonable'. Quite frankly, zero idea if these specialists really have a face so thick to even trying to come out with these fair, unfair, reasonable, unreasonable terminology. Anyway, Puncak is currently holding on cash per share of 2.50 and NA of 3.41. This is totally a different story already. That's why I am pushing for a capital repayment for minority shareholders of 2.50. If majority shareholder don't like us and treat us like disposable diapers, let us GO. Or, if the board/majority shareholder trying to buy new asset that can't reflect in share price, let us GO too. If SC can't act on this, then something is definitely wrong and need to be fixed!

My request is simple, Rozali has every right to buy anything, but a capital repayment of at least 2.50 per share in exchange for our, minority shareholders, share if we are not willing to participate. This is not MAFIA market, or PONZI scheme! And companies listed on BURSA are definitely not KONGSI GELAP! And this is the mandate I am hoping to reach meeting SC on Feb 14!

Posted by r°Moi > 2017-02-04 13:41 | Report Abuse

Icwin

Care to share.... the backgrounds and the authorities responses to you?



lcwin

I been through this before and I go through the due process of what you are trying to do long ago.

Posted by chonghai > 2017-02-04 13:47 | Report Abuse

Kahhoeng good luck. I don't know for sure if Triplc will be sold to Pucat but I almost know for sure your case will be rejected.

Posted by kahhoeng > 2017-02-04 15:43 | Report Abuse

Chonghai, I don't know what SC can do, but I know for sure nothing will be done if no one initiate complaint

Posted by FAIRnREASONABLE > 2017-02-04 15:52 | Report Abuse

Kahhoeng, please also raise other issues apart from repayment of RM2.50.

One suggestion is to record the discussion with SC, and request SC to send a copy to Rozali, together with our emails of complaints. In that request we should ask for a meeting directly with the Puncak chairman and directors. No reasons why we should not take our concerns directly to the Puncak Board.

Posted by kahhoeng > 2017-02-04 16:05 | Report Abuse

FAIRnREASONABLE, quite frankly, I have little faith of Puncak's independent directors being independent and serving minority shareholders interests, nor any faith in Rozali taking interest protecting minority shareholders interests. And, I am not interested to meet Puncak BOD, finding them disgusting with only respect to the managing director, Datuk Syed Hisham, resigning a while after AGM due to 'health' issue. At least he resigned after listening to shareholders' complaint in the AGM and couldn't/won't/failed in addressing shareholders concern.

Issues have been raised before during AGM last year with 0, ZERO, action catering minority shareholders concern being exercised. Anyway, lets see what's the outcome of meeting SC.