Puncak oh Puncak

Really call off the deal????

Damn kanasai.

Puncak Niaga drops 2.14% on news of no more extension to water agreement

KUALA LUMPUR (March 9): Shares of Punck Niaga Holdings Bhd ( Financial Dashboard)'s dropped 2.14% or 6 sen to RM2.74 at mid-day with 519,800 shares changing hands as the Selangor state government announced it would not grant Putrajaya a third extension on the Selangor water restructuring deal.
Selangor Menteri Besar Mohamed Azmin Ali has confirmed that no further extension would be granted for the agreement which lapsed today.
Puncak Niaga (fundamental:1.9; valuation: 2.4) has a market capitalisation of RM1.165 billion.
An analyst told theedgemarket.com that the drop in Puncak Niaga's share price was mainly driven by news of the likely lapse of the water restructuring master agreement.
The Edge Financial Daily in a report today, citing a source, had anticipated the decision saying it was unlikely that a third extension would be granted for the master agreement signed on Sept 12 last year to restructure the state’s water supply industry.
The source said Putrajaya had asked for another one-month extension to the master agreement until end of this month, but the state had disagreed.
But if the water talks collapse, the source said the agreements to acquire PNSB and Syabas were also expected to lapse as well.
PNSB manages a majority of the more than 30 water treatment plants in Selangor, while Syabas is responsible for managing the treated water distribution system.
(Notes: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
by hng33 i3 forum:
 Mar 7, 2015 11:56 AM Report Abuse