KPS-No Pretender, Solid Global Utilities PlayerKPS's AGM yesterday was a real eye opener.
Rumours have somehow become potential news and there's more in the offing.There is no further doubt. KPS is the Selangor State government's vehicle to take on the Langat 2 water scheme project. It has been involved in this project since 1999 and to date had spent some RM5 million on preliminary and feasibility studies on it. Chairman Karim Munisar explained that KPS is a GLC with the expertise and financial clout to undertake this project and it is putting all efforts to get the project. Langat 2 which will cost RM2.5 billion to develop, is a treatment and storage facility for raw water that will be transferred from Pahang. The tender will open in the second half of 2007.
KPS controls Konsortium Abass, a teated water supplier as well as holds a 30% stake in SPLASH, the holder for the Sg. Selangor Phase 1 and 3 concession. Moreover, KPS aslo has a 20% stake in Taliworks, a sub-contractor to water concessionaires including that of Langkawi.
Prospect-wise, KPS is looking seriously to be involved abroad through its strategic alliance partners. It's first foray is the likely RM150 million independent power producing project and a RM600 million toll road in Sumatra. This will be followed by a water project in China. To top it up, KPS is actively talking to some states on mining projects.
For the year ended December 31,2006, KPS posted a pre-tax profit of RM28.3 million compared to a pre-tax loss of RM123 million in 2005. A dividend of 4% minus 27% tax will be paid to shareholders.
So it looks like the phoenix is certainly rising up in KPS. Let us see this state-level GLC operate benchmarked against Khazanah as well as global standards and performance criteria.
Viva KPS!
Heartsong
KPS controls Konsortium Abass, a teated water supplier as well as holds a 30% stake in SPLASH, the holder for the Sg. Selangor Phase 1 and 3 concession. Moreover, KPS aslo has a 20% stake in Taliworks, a sub-contractor to water concessionaires including that of Langkawi.
Prospect-wise, KPS is looking seriously to be involved abroad through its strategic alliance partners. It's first foray is the likely RM150 million independent power producing project and a RM600 million toll road in Sumatra. This will be followed by a water project in China. To top it up, KPS is actively talking to some states on mining projects.
For the year ended December 31,2006, KPS posted a pre-tax profit of RM28.3 million compared to a pre-tax loss of RM123 million in 2005. A dividend of 4% minus 27% tax will be paid to shareholders.
So it looks like the phoenix is certainly rising up in KPS. Let us see this state-level GLC operate benchmarked against Khazanah as well as global standards and performance criteria.
Viva KPS!
Heartsong
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