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KLSE: CYPARK       CYPARK RESOURCES BHD
Last Price Avg Target Price   Upside/Downside Price Call
0.875 1.48     +0.605 (69.14%)
* Average Target Price, Price Call and Upside/Downside are derived from Price Targets in the past 6 months.
** Price Targets are adjusted for Bonus Issue, Shares Split & Shares Consolidation (where applicable).
Date Open Price Target Price Upside/Downside Price Call Source News
No Price Target available for this stock.





  10 people like this.
 
Hustle Company SBB only can buy back 10%
14/07/2020 2:58 PM
Hustle His director already dispose more than 10% annually
14/07/2020 2:59 PM
Hustle Don't end up like London biscut
14/07/2020 2:59 PM
sephirohn12 i think government no pay the tipping fee and testing fee..because they collect the rubbish for produce energy.the plant no start produce energy,goverment also don wan pay first
14/07/2020 4:19 PM
Papayashot Hi sephirohn12, after the WTE is completed and tested completely, the gov should pay back all the construction fee of WTE?
14/07/2020 4:32 PM
sephirohn12 i think will..just my opinion
14/07/2020 8:08 PM
alibaba123456 TA looks moving upwards this week
20/07/2020 11:31 AM
2kHunter Currently trending within a positive sloping channel, CYPARK’s share price is expected to climb further to test our resistance thresholds of RM1.15 (R1) and RM1.25 (R2). This represents potential upsides of 14% and 24%, respectively.

Our stop loss level is pegged at RM0.92 (or 9% downside risk).
21/07/2020 1:30 AM
sephirohn12 razali now own 8%share..almost ceasing major shareholder
21/07/2020 7:05 PM
Investeye The major shareholder is selling every month, how Cypark can fly ?
29/07/2020 10:50 AM
Karlos Plus no dividend this year.
29/07/2020 6:26 PM
finplan Hi, useful article about Cypark for your reading >>
https://finplanco.com/e09-malaysia-dividend-stock-cypark/
29/07/2020 11:16 PM
Karlos Apart from financials, selling down by major shareholders and reissuing share under ESOS for themselves at only 59.5 sen are other big issues.
30/07/2020 10:59 AM
winwinborn no dividend has been declared....
30/07/2020 11:22 AM
winwinborn or just postponing dividend to next quarter??
30/07/2020 11:24 AM
Karlos Where to get cash for dividend as cash flows been negative for some years already?
30/07/2020 12:28 PM
BabyAce @Karlos: I agree with your view. Unfortunately people will continue to ignore the pointers that you've mentioned, because what the only metric that they're programmed to see is the profits only.
01/08/2020 8:25 PM
Value_Investor_888 with PE merely 4.83...It seem a good entry at this price....Those goreng stocks without earning and lossing big money, people fry to sky high...This undervalue one should fly above RM1 anytime!
05/08/2020 10:34 AM
Karlos Cypark relatively high gearing is not something to worry about as it invests in high Capex projects that will generate steady and robust contracted incomes for 21 years or even longer and the debts are ring-fenced and non recourse. The company core biz are in the green energy and environment related space which are fast growing. The negative cash flow from operation is not an issue as the counter party risk is low and Cypark will get the cash going forward.
What probably kept the price down perhaps due to heavy sell down by the top management and the reissue of very cheap share via ESOS. Otherwise this company is highly undervalued at the current price level.
05/08/2020 5:40 PM
AhHuat01 copied from https://www.klsescreener.com/v2/comments/all/stock/5184

lets start of with their cash flow. According to AR2019, the remaining maturities of the loans and borrowings at the reporting date are as follows:
- 184.8 million - On demand or within 1 year
- 53.2 million - More than 1 year and less than 2 years
- 220.2 million - More than 2 years and less than 5 years
- 715 million - 5 years or more

I think 184.8 + 53.2 is not an issue for the company to pay back because they have issued RM550.0 million Sukuk. In the AGM, Cypark mentioned they are looking to restructure RM500 million of existing loans through potential future Sukuk with longer maturity date and lower interest rate.

Hence, we don't need to worry on their cash flow, as long as Cypark keep securing more projects in future which will contribute positively to their incurring revenue for 21 years.
According to AR2019, the Sukuk has a tenure of up to 22 years, this will be backed by the projects’ anticipated long-term concessionaire income for the next 21 years starting from 2021.

You may google the difference between Sukuk and bank loan, and you will find out the reason of issuing Sukuk is a perfect strategy.

Cypark's revenue comes from four segments as follow:
- Environmental engineering
- Renewable energy & green technology
- Landscaping and infrastructure
- Maintenance works
Today, I am keen to find out more about "Renewable energy & green technology" recurring revenue.

Here are the list of On-Going project, once completed, will be Secured/Owned/Operate & Managed by Cypark:

*LSS2 - 30MWac
Cypark expect to complete all three projects by the targeted Commercial Operation Date (“COD”) of 31 December 2020
- Above is taken from AR2019 (which is released before MCO)
- Not sure if this will be delay or not
- According to Daud (CEO), he estimated RM25 million of revenue annually for 21 years

*WTE - 20MWac
the SMART WTE project will be contributing positively to the group’s revenue by 2021
- Above is taken from AR2019 (which is released before MCO)
- however, due to MCO. Cypark has yet to announce the official completion date ( Before MCO, the targeted completion date was at Q2 2020 )
- Lets assume no more MCO and Gov allow technician from japan/korea to enter Malaysia for testing and commissioning, maybe Q1 2021 can complete?
- According to Daud (CEO), he estimated RM80 million of revenue annually for 21 years

*LSS3 - 100MWac
KUALA LUMPUR (June 24): Utility giant Tenaga Nasional Bhd (TNB) today inked three large-scale solar (LSS) Photovoltaic Power Purchase Agreements. All three projects’ commercial operation is scheduled to be from Dec 31, 2021.
- Cypark secured 100 MWAC
- According to Daud (CEO), he estimates a 100MW plant could generate an annual revenue of between RM50 million and RM60 million.
- This will contribute to FYE2022

* and biogas and biomass

So, i went to check their 'Renewable energy' Segment from AR2014 to AR2019 and it seems the revenue is increasing steadily:

Renewable energy Segment (Revenue in MYR)
FY2014 - 34,954,629
FY2015 - 39,665,233
FY2016 - 46,544,314
FY2017 - 48,713,260
FY2018 - 48,784,125

with the above facts, i can have an estimation of their future revenue:
FY2020 - 59 million - maintain, as there is no new plant to generate extra electricity
FY2021 - 59+(25/12*10)+(80/12*9) = 139 million
FY2022 - 59+25+80+(50/12*10) = 205 million
FY2023 -59+25+80+50+ LSS4???
FY2024 - 214 million + LSS4 + future project???
The above is just an estimation, and the recurring revenue seems promising.

From their latest QR, Cypark owns approximately 47 MWdc of solar plants In 2020.
This capacity is expected to increase to approximately 200 MWdc with the expected completion of LSS2 and several NEM Projects by early 2021.

With only 47 MWdc, Cypark can already generate 59 million revenue. Whats more after the completion of LSS2, WTE, LSS3 & biogas and biomass? This will contribute positively to Cypark revenue with an estimation of increasing 250 - 300% within the next 1.5 - 2 years !!

Lets not forget other segment of their business, especially 'Environmental Engineering' segment will bring in more revenue to Cypark as Malaysia announced that target of the country is to achieve 20% renewable energy by 2025, which implied RM33 billion of investment in renewable energy sector.

FYI..
When asked about the effect of consecutive rainy days in Malaysia, Daud explained that Cypark calculates its solar generation by annual sun hours not daily. With the long historical weather data, Daud noted that the daily rainy versus sunny days variable does not affect its annual projections.
05/08/2020 8:54 PM
Hustle Milo kaw tambah air lagi
06/08/2020 3:10 PM
Karlos Director cum major shareholder keep on selling, the company continues to buy back shares to support the price and then director/major share holder buying back very cheap shares at only 59.5 sen shares. This behavior is not positive for the company at the expense of minority outside shareholders. Sadly no body raise this issue, not even the so called Minority Shareholders Watchdog Group.
07/08/2020 10:11 AM
sephirohn12 look at the company pattern,the price will not drop so much already..because when drop company will buy back to support director.director sold because margin call .the price drop more.director will sell more.
07/08/2020 10:30 AM
Karlos Very unlikely Director sold due to margin call but to buy back at the guarantied cheap price of 50.5 sen to make good gain but at expense of other shareholders especially the outside minority shareholders.
07/08/2020 11:17 AM
AhHuat01 when are they going to stop selling....
07/08/2020 11:36 AM
Karlos As long as they have the cheap shares at 59.5 sen available ........!
07/08/2020 3:45 PM
Karlos Today Cypark announced another 4,177,000 new shares issued at the cost of only 59.5 sen, way below even at the current depressed market price, via share option exercised by the management. This cheap new issue will be listed for trading on 17 August 2020.
14/08/2020 8:20 PM
Kokhwa1682 Up 1.30
16/08/2020 2:47 PM
AhHuat01 @Karlos, how does the ESOS works? Management issues 4,177,000 @ 59.5 sen... meaning these 4,177,000 will be added automatically into their Treasury Share? and Staff can purchase it @ 59.5 sen?
17/08/2020 10:14 AM
Karlos Eligible Directors and employées can purchase new shares issued by the company at the price of 59.5 sen and these shares can then be sold by them at market price.
17/08/2020 6:53 PM
lexxi012 The core business of this company is all about ESOS, share buy back and director disposing share. I've given up on this company long ago, although it's showing high NTA and so on. However it will plunge below 90cents after ESOS.
27/08/2020 6:54 PM
lexxi012 If you look through job searching website, you will find all sorts of negative comments about the management team. Run before it's going south.
27/08/2020 7:12 PM
lexxi012 Pending dividend announcement, did they spend the cash on share buy back?
28/08/2020 12:17 PM
sephirohn12 RMCO extend until end of this year..thats mean WTE plant no hope for this year?worry the result come out with impairment provision
29/08/2020 2:06 PM
SHAH NURSYAHMIAIMAN NOOR JALAINI ISSUANCE OF UNRATED PERPETUAL ISLAMIC MEDIUM TERM NOTES ("PERPETUAL SUKUK MUSHARAKAH") OF UP TO RM500.0 MILLION IN NOMINAL VALUE BASED ON THE SHARIAH PRINCIPLE OF MUSHARAKAH ("PERPETUAL SUKUK MUSHARAKAH PROGRAMME") PURSUANT TO A PERPETUAL ISLAMIC MEDIUM TERM NOTES PROGRAMME BY CYPARK RENEWABLE ENERGY SDN. BHD.

We refer to our earlier announcement dated 4 June 2020 in relation to the Perpetual Sukuk Musharakah Programme.

Cypark Resources Berhad (“CRB”) wishes to announce that Cypark Renewable Energy Sdn. Bhd. (“CRE”), a wholly-owned subsidiary of CRB, has on 4 September 2020 issued the first tranche of Perpetual Sukuk Musharakah of RM97.25 million under the Perpetual Sukuk Musharakah Programme.

RHB Investment Bank Berhad is the Principal Adviser, Lead Arranger and Lead Manager for the Perpetual Sukuk Musharakah Programme.

This announcement is dated 4 September 2020.
04/09/2020 6:16 PM
AhHuat01 @sephirohn12: maybe got hope !

https://hotspot.com.my/newsvideo/96416/1865805/%E7%B4%AF%E8%AE%A1%E7%97%85%E4%BE%8B%E6%97%A0%E6%B3%95%E5%8F%8D%E6%98%A0%E9%A3%8E%E9%99%A9%20%20%20%E6%9D%8E%E5%9B%BD%E5%BF%A0%EF%BC%9A%E5%BA%94%E6%8D%AE%E7%A4%BE%E5%8C%BA%E6%84%9F%E6%9F%93%E6%95%B0%E5%AE%9A%E5%A4%BA
07/09/2020 10:05 AM
sephirohn12 Hopefully
07/09/2020 1:30 PM
AhHuat01 english version:

https://www.theedgemarkets.com/article/malaysia-told-reconsider-entry-ban-citizens-countries-over-150000-covid19-cases
07/09/2020 1:59 PM
liegelord hmm...
08/09/2020 9:18 AM
Lukesharewalker This counter is just making the management rich. How can such an esos scheme exists?
15/09/2020 3:12 PM
Lukesharewalker Staff getting rich...investors stay away
22/09/2020 3:57 PM
k3nthiew https://themalaysianreserve.com/2020/09/23/another-due-date-for-countrys-1st-wte-plant/

AFTER several delays, the country’s first waste-to-energy (WTE) incinerator facility in Negri Sembilan is expected to be commissioned by the fourth quarter of this year (4Q20).

Housing and Local Government Minister Zuraida Kamaruddin (picture) said currently, the project developer Cypark Resources Bhd is arranging for external experts to be flown to the plant to run the testing and commissioning (T&C) procedure. This would take around three months to complete.

Initially, the RM300 million project was set for completion by January 2018. However, it was delayed to the end of that year after the main contractor encountered a difficult geological formation.

The due date was then extended to June last year, but was again delayed to December 2019 due to technical issues with the road access at the landfill area.

“Now, they have to bring technology experts from Japan and Korea to run the T&C procedure and test the operation for three months.

“They are arranging this so it could be completed by the end of this year,” Zuraida told the media after handing over the certificate of appointments to the Village Security and Development Committees (Federal) (JPKKP) chairmen for New Village in Putrajaya yesterday.
24/09/2020 10:06 AM
Karlos More selling by the chairman cum major shareholder!
25/09/2020 8:25 AM
Papayashot Karlos, please observe carefully the selling price of this major shareholder on 23/9/2020. It is RM934,200.00 for 1,080,000 shares, i.e. RM 0.865.

My point is, why don't he sell earlier at say 21/9/2020 or even earlier than that, where the price is still > RM 0.90?

The reason is obvious. Market sell down cypark shares. And, the director kena margin call.
25/09/2020 10:29 AM
Lukesharewalker Really incompetent management, 2 years overdue project
25/09/2020 12:01 PM
Karlos Still very good price even at 86.5 sen as he can exercise his option for more shares at only 59.5 sen!
25/09/2020 12:15 PM
Karlos Giving him more than 45% profit with hardly any risk!
25/09/2020 12:18 PM
Lukesharewalker Yet rewarding staff with such an esos
25/09/2020 12:25 PM
Karlos Nothing wrong with giving ESOS but the price in this case far too low hence providing not enough motivation for the staff to make the company perform better.
25/09/2020 12:54 PM
Papayashot Ya, management wise I have no comments. It is delayed since 2018, no thanks to the contractor of cypark, saying geographical problems la, hard road access la, bla bla.... But cypark has changed the main contractor. Previously I think was KNM
25/09/2020 1:35 PM

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