Posted by firehawk > 2017-05-09 09:49 | Report Abuse

Undoubtedly ... rzl is a good father ....

Posted by chonghai > 2017-05-09 18:44 | Report Abuse

kahhoeng I believe base on the response that you have received there is no case. No case does not mean fairness, but that means external parties cannot exert any actions. Capital repayment, if it comes, will only act as a sweetener to enable the RPT. Complaining to SC will not make any difference.

Posted by kahhoeng > 2017-05-09 20:48 | Report Abuse

chonghai, I was informed by SC around 3:30 pm today the investigation is still ongoing, except that they can't reveal any detail, and reassure me its been taken seriously. I have stressed my request for a capital repayment option and not intended to go against Rozali. Lets see how it goes, given the concerns have been filed already. If you are a shareholder and is concerned, do call SC. Every shareholder raising concern counts!

Posted by ks55_ > 2017-05-09 20:59 | Report Abuse

Even KYY a multimillionaire cannot do anything when Xinquan doesn't want to pay dividend what chance has you?

Posted by kahhoeng > May 9, 2017 08:48 PM | Report Abuse
chonghai, I was informed by SC around 3:30 pm today the investigation is still ongoing, except that they can't reveal any detail, and reassure me its been taken seriously. I have stressed my request for a capital repayment option and not intended to go against Rozali. Lets see how it goes, given the concerns have been filed already. If you are a shareholder and is concerned, do call SC. Every shareholder raising concern counts!

Posted by kahhoeng > 2017-05-09 23:12 | Report Abuse

ks55, like I said, I don't know if what I'm doing can have any effect, but I'm trying my best and approaching whom I think can have an impact. Of course, if you are a minority sharing the same concern, you are welcome to approach SC to learn what I have been trying to do in case if you thought that I'm just cakap cakap here. Posting 'I doubt' won't make a difference, trying new approaches from each lesson learnt will offer hope.

Posted by kahhoeng > 2017-05-10 17:00 | Report Abuse

And, may I add, the more shareholders calling SC, taking active role to seek better treatment, the better the outcome it can be. So, I would appreciate active participation from all of you.

Posted by sell > 2017-05-10 17:01 | Report Abuse

Wait for below 10 sen like Xinquan better.

Posted by ks55_ > 2017-05-11 15:24 | Report Abuse

RM 300 million loss in 2017?

Posted by steveooikp > 2017-05-11 16:46 | Report Abuse

the share price will come down again ..... QR out soon this month... another loss for sure.

Posted by kahhoeng > 2017-05-11 19:46 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5424393

Puncak wishes to announce to the Exchange that the Company had, on the evening of 9 May 2017, received a sealed copy of the Amended Writ together with an Amended Statement of Claim both dated 28 April 2017 from the solicitors of Pengurusan Air Selangor Sdn Bhd (“PASSB”).

The Suit arose from alleged breaches on the Sale and Purchase Agreement dated 11 November 2014 (“SPA”) between Puncak and PASSB relating to the disposals by Puncak of the entire equity interest and cumulative convertible redeemable preference shares held in Puncak Niaga (M) Sdn Bhd (“PNSB”) and 70% equity interest and RM212.0 million nominal value of redeemable convertible loan stocks held in Syarikat Bekalan Air Selangor Sdn Bhd (“SYABAS”) to PASSB for RM1,555.3 million in line with the consolidation/restructuring of the water industry in the State of Selangor and the Federal Territories of Kuala Lumpur and Putrajaya by the State Government and the Federal Government. The disposals of PNSB and SYABAS were completed on 15 October 2015.

In the Suit, Puncak is named as the First Defendant.

The relief sought by PASSB against Puncak is as follows:-

(i) a sum of RM63,237,583.05 (“Sum”) to be paid within 14 days from the date of the Honourable Court judgment.

(ii) interests on the Sum at the rate of 5% per annum to be calculated from 22 August 2016 until full payment thereof.

(iii) a declaration that Puncak continues to indemnify PASSB for all losses which arises after the filing of this claim that PASSB may suffer as a result of the breaches in this action, including but not limited to future RPGT relation to the transfer of properties of PNSB to Puncak Group under the SPA.

(iv) general damages to be assessed (“Assessed Damages”) and interests on the Assessed Damages at the rate of 5% per annum to be calculated from the date of assessment until full payment thereof.

(v) an order that Puncak do deliver to PASSB the original or photocopies of PNSB’s documents within seven (7) days from the date of the Honourable Court order.

(vi) costs and interests at the rate of 5% and other reliefs or orders that the Honourable Court may deem fit and proper to grant.

Puncak has instructed its solicitors to contest the matter and to file an appearance at the pre-trial case management on 17 May 2017.

Pending the outcome of the Suit, there is no financial impact on the Puncak Group. There is also no operational impact on the Puncak Group.

Puncak will make the relevant announcement on further developments on this matter in due course.



This announcement is dated 11 May 2017.

Posted by DK66 > 2017-05-11 20:00 | Report Abuse

How could this even happened ??

Posted by 4444 > 2017-05-12 05:30 | Report Abuse

Sued for RM 63 million.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5424393

Posted by 4444 > 2017-05-12 05:32 | Report Abuse

If delay paying subject to interest 5% per annum.

Posted by speakup > 2017-05-12 09:14 | Report Abuse

game over.....

Posted by taitaumau > 2017-05-12 10:12 | Report Abuse

In view of the latest suit, pending any impact on the original sum of sale proceed RM 1.55 B, i am wondering whether complain made to SC on the triggered issue of PN 16 would be jeopardized.

Posted by steveooikp > 2017-05-12 15:12 | Report Abuse

puncak will be down like no tomorrow on Monday.

Posted by kahhoeng > 2017-05-12 17:16 | Report Abuse

PN 16 is for cash rich company of which cash is 70% or more of company asset. Currently, Puncak is no longer under this category. Furthermore, a sue that demand money from Puncak will only drain its cash, instead of the other way. So, it won't trigger PN 16 classification. The best option for minorities, I guess, would be a collective action demanding capital repayment option.

Posted by chamlo > 2017-05-13 10:23 | Report Abuse

Selangor govn no money after paying so much money. So try to sue Puncak to recover lost money. Expect more such news before GE 14.

Posted by 4444 > 2017-05-15 04:26 | Report Abuse

Why still so high? Loss RM 200-300 million likely in 2017. Below 50 sen by year end. Even CIMB anal-list back off knowing bad time ahead.

Posted by kahhoeng > 2017-05-15 10:03 | Report Abuse

The company still has over 1 billion cash in hand, the cost of Selangor state government's final cost is not even 10% of the cash value, yet the company share price has fallen to less than 40% cash. Worse yet, some smart guy suggesting it should trade below 20% cash in hand... What's more interesting yet disgusting, the company's board is doing nothing, as if minorities are used disposal diapers...

Posted by rogers123 > 2017-05-15 20:11 | Report Abuse

Dont buy puncak. It will continue fall to 0.90

Posted by geraldng01 > 2017-05-16 00:20 | Report Abuse

Cash rich but no vision in growing the company....

Posted by kahhoeng > 2017-05-16 09:58 | Report Abuse

There's vision, buying plantation and construction company at premium...

Posted by r°Moi > 2017-05-16 13:00 | Report Abuse

.

Look at both companies.... rosxli

You are plain lousy.. give you a BIG E

.

Posted by r°Moi > 2017-05-16 13:01 | Report Abuse

.

Just give back the money to minorities

Selective capital repayment.... or divvy

.

Posted by steveooikp > 2017-05-16 13:02 | Report Abuse

this QR will bring puncak below 90 sen...

Posted by steveooikp > 2017-05-16 13:02 | Report Abuse

r moi - that is not your photo.... that is Sarah Lian!

Posted by r°Moi > 2017-05-16 13:10 | Report Abuse

.


Gone around the world 3 times already

You remain the most lousy company...


.

Posted by steveooikp > 2017-05-16 13:12 | Report Abuse

r moi - you talk to who?
sell now, QR come out, worst I tell you.

Posted by goodguess > 2017-05-16 13:23 | Report Abuse

what did Puncak breach in the agreement?

Posted by r°Moi > 2017-05-16 13:36 | Report Abuse

Looks like lost the titles of some properties

And... not having any details to get replacement titles from land office...

Reflection the laosy state of the office of rosxli

Posted by firehawk > 2017-05-16 15:37 | Report Abuse

rzl will safeguard his wealth to prevent minority to rob it + rzl is a good father to take care of his children .. is very noble task ...

Posted by r°Moi > 2017-05-16 17:56 | Report Abuse

Kahhoeng will safeguard his wealth to prevent majority to rob it + kahhoeng is a good father to take care of his children .. is very noble task ...

Posted by firehawk > 2017-05-16 20:09 | Report Abuse

Everyone must be in highest level of awareness ... once wealth being robbed, is very difficult to get back! other ppl will not give back to you .....

Posted by 4444 > 2017-05-17 22:37 | Report Abuse

Why QR not out? Loss RM 100 million in May and RM 300-400 million in 2017?

Posted by r°Moi > 2017-05-18 08:30 | Report Abuse

.


E- CEO

TRIPLC going for 52 weeks low



Forget the TRIPLC RPT

Distribute the 310m instead... no headache

Just return the money

.

Posted by firehawk > 2017-05-18 09:44 | Report Abuse

rzl son is very grateful to hv a good father albeit many others try to prevent his father to become a good one! father and son know their most important task is to sfeguard their wealth after knowing some ppl try to rob them!

Posted by ckson > 2017-05-18 15:32 | Report Abuse

Hello if any minority shareholder is not satisfied by puncak price, go find out other counter laa..

Posted by steveooikp > 2017-05-18 16:27 | Report Abuse

this QR sure lost money....
they have no business... no income.... only got expenses....
sit there to get high salaries....

Posted by steveooikp > 2017-05-18 16:43 | Report Abuse

r moi - why you put Sarah Lian's photo???

Posted by firehawk > 2017-05-18 16:45 | Report Abuse

although Puncak price cannot go up ... but TRIPLC even worse .....

can this considered a minor victory of Puncak minorities?

Posted by kahhoeng > 2017-05-18 17:10 | Report Abuse

firehawk, in my opinion, to Puncak minorities, TRIPLC share price has nothing to do with us, the minorities. TRIPLC dilemma has more to do with its board representing the shareholders. I'm tired of reading Puncak Niaga's quarter reports, annual reports, and deals trying to ascertain if any deal is trying to take advantage of us minorities. I'm only hoping to push for a capital repayment option and never look at Rozali and his related companies shares in future (unless I'm not aware of it.) I enjoy investing, not spotting potential misconduct!

Rozali really needs to look into himself to ascertain if he can really treat his minorities in this fashion...

Posted by firehawk > 2017-05-18 17:42 | Report Abuse

i hope the so called civilized person keep his word!

i dun know how many times i hv to say this?

Posted by angiess > 2017-05-19 00:27 | Report Abuse

Did anyone realize that puncak' website has added plantation as one of their 'core business'... since when they have finalized the deal?

Posted by angiess > 2017-05-19 00:27 | Report Abuse

When is the AGM for 2017？

Posted by angiess > 2017-05-19 10:41 | Report Abuse

Kah hoe...This Tuesday ? Did you go?

Posted by Up_down > 2017-05-19 10:44 | Report Abuse

Better get the Management to appoint auditor to conduct a special audit or forensic audit for the huge losses suffered in year 2016. It could be due to irregulari....

Posted by teohkh > 2017-05-19 16:09 | Report Abuse

Any investment made by puncak must go though the due-dilligence process, analysis la. Mana ada orang terus pigi terus dump money ma. Nanti rugi loh...

Posted by kennylim > 2017-05-19 16:54 | Report Abuse

Maybe Rozali have a great plan. We doesnt know until the stock rice again. So better maintain this counter and stop whining.

Posted by kahhoeng > 2017-05-19 17:54 | Report Abuse

angiess, yes, I will be attending the AGM...

kennylim great plan? By buying L3 financial asset in the 2nd quarter to be sold in the 4th quarter? By buying 1.5 years "matured" palm oil plantation at premium? Or by buying a construction company with less than 120 million market cap before announcement at 210 million (while currently traded at less than 150 million, or was I wrong with the number?) while its own share is traded at less than 40% cash value?!?