err... Puncak board and management are making losses quarter after quarter, proposed a plantation deal that's far more expensive than a similar deal from the same seller that's later closed at over 200 million discount without reasons, attempt to complete a TRIPLC construction company at a hefty premium where its (TRIPLC) key management people/board member selling at discount to offer price. Yet, all I see here is fighting/quarrel over trading Puncak for profits?
Although SC doesn't block the transaction proposed, but it needs Puncak shareholders to approve!
to rescue the situation, from now onward, wonderful creature should scold those not vote against the deal! should scold them shallow thinking, not civilized, not knowledgeable ... or even dog, to humiliate them!
if the resolution cannnot go through, then, the cash will be reserved and the hope of capital repayment becomes brighter!
Rzl is a golf player, spending millions to play golf every year. Wondering y still got people investing in his company for him to use. Kahhoeng give up this company, notcworth to invest
Posted by Jay > Sep 21, 2017 04:04 PM | Report Abuse
thanks for the comments
@hng33 puncak is a riskier choice. if the deal goes though, triplc earnings can sustain them for the next 3 years but I'm not sure how huge their existing operations and new plantation losses will be. young trees literally gives no fruits and revenue in the first few years. if for some reasons the deal doesn't go through, triplc profit will remain strong but puncak will continue to slip into oblivion (which many puncak shareholders don't seem to understand). but I understand your trading rationale, just be aware of the risk
Posted by hng33 > Sep 21, 2017 07:29 PM | Report Abuse X
Thanks jay, I have took profit on Puncak today at 76sen, have repeated trade many round already for handsome contra gain. Now, portfolio still retain some for continue exposure for upcoming EGM.
Portfolio have more triplc stake now at average cost around RM 1.89, awaiting for approval too in EGM with special dividend and await for next month Q1 result in which expect higher construction profit from new concession as progress advancing.
Readers of my blog would probably realise that I have been away from i3 for quite some time, mainly because I was quite fed up with the bickering in the forum where some people are just not interested to put in a logical argument. The same people never contributed anything in the forum yet has the guts to question everyone else’s intentions. For me, I wrote what I wrote because I wanted to share what I know but I don’t owe anyone anything, certainly not those low-lives. So I took my time-off, travelling and enjoy life while seeing my portfolio grew nicely over time.
Pursuant to Paragraph 10.08 (1) of Bursa Malaysia Securities Berhad’s Main Market Listing Requirements (“Listing Requirements”), the Board of Directors of PNHB (“Board”) wishes to announce that Puncak Niaga Management Services Sdn Bhd (“PNMSSB”), a wholly-owned subsidiary of the Company, had on 28 September 2017 entered into a sale and purchase agreement pertaining to a related party transaction with Puncak Alam Housing Sdn Bhd (“PAHSB”) to acquire a piece of leasehold land held under Title No. PN 80453 located at Lot 19255, Mukim of Ijok, District of Kuala Selangor, State of Selangor Darul Ehsan, measuring approximately 8.413 hectares (“Land” or “Property”) from PAHSB for a total cash consideration of RM40,732,956.00 only (“Purchase Price”).
Other notable land deals included the purchase of 26 pieces of leasehold land totaling 2,198.40 acres in Ijok, Kuala Selangor, by Eco World Development Group Bhd, at RM1.181 billion, for the development of a new township which equal to 4.99 psf. Now puncak is paying 45++ psf. Fair price?
Angie: There is no business or concession can guarantee profit all the time. Previously Puncak managed to make normal profit for water concession, but gamuda make supernormal profit every year. Wat can be explained. All depend on the management. I doubt the ability of puncak and sincere of RZL. Every deal now is only for RZL's pocket. It is very clear now. No reason to acquire the land of 8 hectare since puncak has more than 280 hectare in the same area without developing.
what can I say? A well-dressed educated mafia-run company that SC can't or wont' do a thing? Investing in Puncak made me felt like putting money in JJPTR...
Got 1 more classification on long term asset 2016 Q2 then disposed on Q4 no reply yet from SC. This is an important issue whether can it be classified as PN16 during that time .
Readers of my blog would probably realise that I have been away from i3 for quite some time, mainly because I was quite fed up with the bickering in the forum where some people are just not interested to put in a logical argument. The same people never contributed anything in the forum yet has the guts to question everyone else’s intentions. For me, I wrote what I wrote because I wanted to share what I know but I don’t owe anyone anything, certainly not those low-lives. So I took my time-off, travelling and enjoy life while seeing my portfolio grew nicely over time.
Ha Ha! another rational speaking successfully pissed off by wonderful creature! but he described wonderful creature as low-lives ..... wonderful creature talk, talk, talk ... and scold and piss and success! most important is talk, talk, talk .... without having feeling of shame! the most important characteristic to win over anyone!
The management is rubbish, no question. The question is, is the price cheap enough to provide some value? I think so, but then again, you want your money is rubbish company anot?
is a great success pissing off all those giving -ve comments ... they deserved it! because they don have the characteristics of low-lives --- without having shame feeling, talk talk talk and win .... and they don even scold others as dog too ....knowing low lives characteristics, but not practicing it, can't have the last winning .....
however, good in scolding ppl can't help the price ... may be should do more promotions .... otherwise huge loss situation not improves .....
should retreat the TP! the last wonderful TP is 2.50, is more than 200% gain! even if lower the TP to 2.00, still more than 150%, should put up more posts to encourage ppl to buy ... may be should emphasize the Triplc deal can't go through the EGM and still hv hope on capital repayment ... can add many more wonderful substances, like last germ in KLSE, etc ....
Actually Puncak needs the concession income from Triplc but not the land of Triplc. If Puncak allows Triplc to just sell the land at open market and only buy the concession at a lower price it may be beneficial to both parties.
I believe I have done my best in trying to provide my view from a minority shareholder's perspective. Given SC's responses thus far, there's little point to pursue through this agency given genuine doubts over its transparency, accountability and fairness (neither doubt I will ever approach SC going forward, shitty experiences whether SC will eventually offer any fair judgment protecting minorities!). Neither am I keen to sell my stake at such a cheap valuation.
Probably will either trade like hng33, exit little by little with every possible chance existed or hold till a fairer market valuation on this company.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
rogers123
4,018 posts
Posted by rogers123 > 2017-09-21 10:07 | Report Abuse
Loss confidence?