This had been going on for several years and hope that it can finally comes to an end.
Something that caught my attention is, Y do those news come out in 1 shot? Green light for Langat 2, Nod from federal govt for water asset. MSWG go n make noice about it. Isn't it weird? What a coincident?
Personally Im more to Puncak case as I bought it few weeks back. Something that boggling my mind is
Y do Tans Sri Rozali get so much remunerations? To cash out before take over?
Will this turns out to be a hostile take over?
Tan Sri Rozali has about 41.34% stake in Puncak
EPF had ceased from substantial stake holder from 7%+ to now only 4.95% based on the latest announcement.
Tabung Haji hold 6.4%
If thats the case, those who close to Tan Sri is around 52.69%. as there r still around 47% outside the market, could tussle happen? (Khalid is famous with the event of The breaking dawn in UK when he was a fund manager in PNB) If this really happen then hold tight to ur Puncak as it gonna fly! RM3 wouldn't be a dream!
On the other hand, the last offer was about RM2.40 per share(not sure about the liabilities and other asset as no clear details were given), and if its so, thats mean puncak is trading at a cheap price since it still has O&G business.
Another issue is, will KPS gets the water asset after the take over?
2 cents of mind, I will wait for the deal to realised but is it a good buy now? I'm not sure as it might have a might correction before going higher.
In order to get more insight about this water industry, please log in to
Loryau @ Morning Fix to see what our Head of Analyst talk about it.
Thanks for reading and good day!
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