Puncak Niaga Holdings
SYABAS Puncak! Puncak's long waiting game is finally over with the confirmation by the Economic Planning Unit (EPU) of Syabas winning the privatisation of water supply services in Selangor and Federal Territories of Kuala Lumpur and Putrajaya. Syabas is a 70%-owed subsidiary of Puncak. The EPU has directed that the concession agreement for the privatisation to be finalised in due course. JP Morgan said this a positive development for the water industry and has put an overweight recommendation on Puncak. However, the research house has cautioned against getting too excited over returns on Syabas, following indications by the Government that water tariff increases will have to be earned and are not automatic. PUNCAK : [Stock Watch] [News]
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