Involvement of Salcon in broadband biz for railway(LRT/MRT)is thru partnership with prasarana. Until today, HSR is not belonged to prasarana (yet), therefore Salcon has nothing to do with HSR.
HSR issue has little influence over the current market value. However, hope that no more surprise in the coming may 11 meeting. That really has big impact the share price
Highlights / Stock Picks of the Day - Salcon Berhad (SALCON) – Trading Buy Kenanga recommend a ‘Trading Buy’ on the stock with an expectation of a sustainable follow-through buying interest, hence share price would rally towards our long-term TP of RM1.01 (which is the stock’s all-time high level).
Set date to resolve water deal now, Azmin tells Ongkili FMT | May 11, 15 11:50am The proposed takeover of the water concession by the Selangor State government has been postponed no fewer than three times.
KUALA SELANGOR: Selangor Menteri Besar Mohamed Azmin Ali wants Maximus Ongkili to immediately set a date for both parties to iron out all disputes resulting from the restructuring of water services industry in the state. Maximus is Minister for Energy, Green Technology and Water. Mohamed Azmin said the issues included the demands made by the federal government in the restructuring, including the taking over of some Selangor assets. “I am just adhering to the agreement that was signed. If there are different views, it’s better to talk,” he told reporters after presenting a cheque to fund the ‘Hijrah Selangor’ programme, here, yesterday. It was reported that finalising the proposed takeover of the water concession from Puncak Niaga (M) Sdn Bhd (PNSB) and Syabas by the state government has been delayed three times from February. The last date set was today. Asked whether the Selangor government would use legal avenues to resolve the deadlock, Mohamed Azmin said he did not see the need for such an approach. He said that both state and federal governments had agreed to certain terms and conditions on the water deal. – BERNAMA
PETALING JAYA: The Selangor state government may have to fork out more than the RM1.55 billion offer price agreed to for the takeover of Puncak Niaga Holdings Bhd's water assets with a fifth extension to the sale and purchase agreement (SPA) with Pengurusan Air Selangor Sdn Bhd.
Yesterday, Puncak Niaga Holdings Bhd executive chairman and managing director Tan Sri Rozali Ismail said the proposed takeover of the Selangor water concession by the state government, which has been delayed four times from February, has resulted in, among others, loss of revenue and investment opportunities for the group.
"There is a high possibility that the board of directors of PNHB may ask for an increased offer price," Rozali said in a stock exchange filing yesterday.
PNHB is currently seeking approval from its board to consider a fifth extension for the fulfillment of conditions set under SPA between PNHB and the state government's water entity, Air Selangor, to enable the pending issues related to the water asset transfer between the state government of Selangor and the federal government to be resolved.
Rozali said the RM1.55 billion from Air Selangor was based on a 12% return of investment calculated up to the financial year ended Dec 31, 2012.
"As such, PNHB has not been accorded with any returns for the past two preceding financial years for the financial years ended Dec 31, 2013 and Dec 31, 2014 and until to date," he said.
Rozali also said that over the past few months, PNHB had to forgo, and lost several investment opportunities arising from the delay and uncertainty in the completion of the SPA.
He also revealed that due to the delay, PNHB's wholly owned subsidiaries, Puncak Niaga Sdn Bhd (PNSB) and Syarikat Bekalan Air Selangor Sdn Bhd (Syabas), were "directed to put on hold several critical and major improvement plans on the operations of the water treatment and water distribution systems".
This, Rozali said, has carelessly caused unnecessary hardship to consumers leading to an unhealthy environment in Selangor and the federal territories of Kuala Lumpur and Putrajaya.
"It has taken too long for both the Federal and State Government to resolve this restructuring. Since 2008 till now, over a period of seven years, PNSB and Syabas are not able to implement many programs to improve their services as the instructions given by the authorities are 'wait for the restructuring'," Rozali said.
He added that the sharp depreciation of ringgit against the dollar over the recent months has led to PNHB's overseas investment costs to rise.
PNHB was banking on its overseas expansion as a growth driver for both its water solution and oil and gas businesses with the disposal of its water assets.
Rozali also pointed out that the imposition of the Goods and Services Tax has further increased the operating costs of both PNSB and Syabas.
- Langat 2 project still underway: While the Langat 2 water treatment plant (WTP) project is still underway, Maximus said Selangor has continued to delay the issuance of permits for the project. As at end-Feb, the RM4bil Langat 2 project was only 1.2% completed (vs. the targeted 3.4% then). The plant will supply 1,130mil litres of water per day (MLD) when completed in 2017.
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....
tham hoe yean
166 posts
Posted by tham hoe yean > 2015-05-06 10:16 | Report Abuse
Salcon involved in broadband service to the HSR.