Highlights
KLSE: JAKS (4723)       JAKS RESOURCES BHD MAIN : Construction
Last Price Today's Change   Day's Range   Trading Volume
0.74   +0.01 (1.37%)  0.735 - 0.75  6,852,100
Analyze this stock with MQ Trader system

Overview

Market Cap: 476 Million
NOSH: 643 Million
Avg Volume (4 weeks):5,605,241
4 Weeks Range:0.73 - 0.795
4 Weeks Price Volatility (%):
15.38%
52 Weeks Range:0.405 - 1.08
52 Weeks Price Volatility (%):
49.63%
Average Price Target: 0.88
Price Target Upside/Downside: +0.14
Stamp duty exempted for year 2019

Financial Highlight

Latest Quarter | Ann. Date 30-Jun-2019 [#2]  |  21-Aug-2019
Next QR | Est. Ann. Date: 30-Sep-2019  |  29-Nov-2019
T4Q P/E | EY: 9.43  |  10.60%
T4Q DY | Payout %: 0.00%  |  - %
T4Q NAPS | P/NAPS: 1.3421  |  0.55
T4Q NP Margin | ROE: -1.76%  |  5.85%

Headlines

Date Subject
22-Sep-2019 Jaks Resources - An excellent joint venture deal with CPECC
21-Sep-2019 Jaks Resources - 1200MW power to fire up Soon !
25-Aug-2019 Jaks Resources - Progress of Pacific Star construction
22-Aug-2019 [转贴] [Facebook live video:浅谈Jaks resources bhd (Jaks)] - James的股票投资James Share Investing
22-Aug-2019 Evening Market Summary - 22 Aug 2019
22-Aug-2019 Trading Stocks - JAKS Resources
22-Aug-2019 Jaks Resources - Continues to Perform
22-Aug-2019 Jaks Resources Berhad - Within Expectations
22-Aug-2019 Mplus Market Pulse - 22 Aug 2019
22-Aug-2019 Stocks on Radar - JAKS Resources (4723)
21-Aug-2019 M+ Online Technical Focus - 21 Aug 2019
14-Jul-2019 JAKS
11-Jul-2019 Daily Market Update - 11 Jul 2019 (JAKS, KGB)
10-Jul-2019 Daily Market Update - 10 Jul 2019 (JAKS, KGB)
08-Jul-2019 [转贴] 捷硕 JAKS – 2019年股东大会 - RH Research
05-Jul-2019 Trading Stocks - JAKS Resources
05-Jul-2019 [转贴] JAKS 捷硕 – 越南发电厂简介 - RH Research
04-Jul-2019 Daily Market Update - 4 Jul 2019 (JAKS, MBL)
25-Jun-2019 Technical Buy: JAKS (4723)
15-Jun-2019 Some questions for upcoming JAKS AGM Q&A session

Business Background

Jaks Resources Bhd is an investment holding company. It is organised into six main reportable segments - Manufacturing segment comprises mainly manufacturing of pipes; Trading segment comprises trading in sheet piles, steel bars, mild steel and special pipes, other steel related products, building materials and supply of products for water supply industry; Construction segment Comprise mainly provision of sub-contracting activities; Investment segment involves investment holding activities; Property Development and Property Investment segment is engaged in the development of residential and commercial properties and management of development shopping mall. Its principal geographical areas for its operations are located in Malaysia and Vietnam.
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  16 people like this.
 
DatoLim24 Power Plant Progress. Overall plant. 31'Jul' 2019. Boiler Unit 1 area ... 31'Jul'2019. Coal- limestone jetty are. 31'Jul'2019
20/09/2019 4:52 PM
NGWAIKUAN Pls
moving up.....
20/09/2019 6:55 PM
Nikmon Only ALP keep buying in last few days....haha
20/09/2019 10:52 PM
Hanyeong1105 ALP is try to give market confident.
20/09/2019 11:08 PM
Hanyeong1105 JAKS with lousy cash flow, keep droping share price and uncertain court case.
ALP still buying mean ?
I think that ALP is BUY for the future prospect and it should be good if not what he buy?
20/09/2019 11:19 PM
Nikmon Exactly, CEO buying million of share, would you dare to buy if you know company prospect is bad...
20/09/2019 11:44 PM
Hanyeong1105 By the psychologically, CEO won't top up cash to company with bad prospect. Normally, CEO will keep find the way to withdraw cash from company when it turn bad only.
21/09/2019 7:49 AM
Hanyeong1105 Adept market investor should know what i trying to said because it was really happened in our stock market.
21/09/2019 7:53 AM
Nikmon It is human nature, topping up million into stock and hopping to lose the money, no such idiot CEO, and APL not rich until that level willing thrown million into the sea...
21/09/2019 8:56 AM
value88 The CEO buying does attract my attention to re-look at Jaks.
I suppose the worst is over for Jaks as its property dev and investment segment is improving, Evolve Mall's occupany rate has improved after securing an anchor tenant lately, and the power plant construction will recognise higher contribution per quarter from Q2FY19 to Q4 FY20 if compared to the recognition in past 3 years.
Jaks is sueing Star Media for RM650mil. If the lawsuit succeed, that will be a boost.

I suppose the above are the reasons for Mr Ang to keep buying from end Aug'19 to 20th Sept'19 ?
Jaks had reported good quarterly earnings in May and Aug19 but its stock price didn't really move...I wonder what is in the mind of mr.market. Jaks' outstanding number of shares keeps increasing due to fund raising exercise and this is a negatve factor.

Maybe I should look further into Jaks to find out if it worths to buy now.
21/09/2019 10:08 AM
investor1458 Do enlighten us what you discover
21/09/2019 11:15 AM
Nikmon I thought main course is still the the power plant....check DK66 post, turbine was cover up last week mean what, it is very close to finish, blowing testing target in next few month mean what? Final stage before full test !!
21/09/2019 11:26 AM
DK66 https://klse.i3investor.com/blogs/Jaks%20resources/225929.jsp
21/09/2019 9:22 PM
ChoCho Jaks will be the next Mega First.
21/09/2019 9:36 PM
Sslee Dear DK66,
JAKS will not be reclassified as power generation company. As associate company no revenue is recognised in JAKS book. Jaks only book share of profit/loss from associate company. The cash flow will base on dividend income received from associate company.
Thank you
21/09/2019 9:45 PM
Nikmon CK66, from previous CPECCC project, seems like once the turbine setup completed, series of testing will be carried out until commission within 6 months only, I Guess it might able to complete by Feb 20
21/09/2019 11:06 PM
DK66 Dear Sslee,

I m well aware that the revenue from associate companies will not be taken up in Jaks' book as revenue.

However, I m unsure whether revenue is the only criteria used in sector classification. Are distributions from associated considered ?

Please enlighten.

Thank you

---------------------------------------
Sslee Dear DK66,
JAKS will not be reclassified as power generation company. As associate company no revenue is recognised in JAKS book. Jaks only book share of profit/loss from associate company. The cash flow will base on dividend income received from associate company.
Thank you
21/09/2019 9:45 PM
21/09/2019 11:38 PM
DK66 Nikmon,

My study was based on the construction schedule of Vinh Tan 1 and Mong Duong II as well as my knowledge of the industry. As the construction schedules may defer for different projects, the timeline can only serve as an estimate, not conclusive. Of course, could either be earlier or later.

--------------------------------
Nikmon CK66, from previous CPECCC project, seems like once the turbine setup completed, series of testing will be carried out until commission within 6 months only, I Guess it might able to complete by Feb 20
21/09/2019 11:06 PM
21/09/2019 11:45 PM
LKOH Jaks signed MOU to purchase Solar plant in Vietnam in May, did the sales and purchase went through? or MOU has lapsed, anyone knows?
22/09/2019 6:31 AM
Sslee Signed MOU for fun only. JAKS at current stage do not have financial mean to purchase anythings untill the power plant start to contribute the dividend or more PP or RI from investors.
22/09/2019 8:08 AM
DK66 extended till 30th September
22/09/2019 8:08 AM
hng33 Over the year, Jaks have staggering provide LAD provision every quarter in accord to time delay in handover unit to purchaser till completion.

Therefore, once unit is confirm handover after completion, the earlier provision LAD in Jaks balance sheet will use to fund payout to purchaser as compensation for delay.

Thus, once the pacific property completed and handover within these year, it will officially ended Jaks to have to provide anymore LAD in its profit/loss statement, eliminate these loss making division totally.

Jaks also on track to break even its concept mall due to surge occupancy rate recently from 55% to over 80%. All in all, in next few quarter result will show great reduction loss making due to LAD and property investment in concept mall.

On the other hand, power plant construction profit will expedite to record balance of work till completion and then later commencement of new stream of steady income worth EPS 15-20sen pa from power profit next year
22/09/2019 9:58 AM
brushsoo I am not sure the below is correct, the mall is getting less tenants than before as at end Aug 19.
Have I miss something?


Jaks also on track to break even its concept mall due to surge occupancy rate recently from 55% to over 80%
22/09/2019 10:05 AM
hng33 In time of China-US trade war, Vietnam is key beneficial country. Many manufacture in global supply chain have opt to shifted to Vietnam. Adequate Power supply is in great need, full capacity fire up to meet demand. Therefore, Jaks new power plant stand to benefit full capacity payment once operating in full capacity early next year.
22/09/2019 10:09 AM
hng33 Jaks director know the best of its own company, a game changer in coming, have keep accumulating low price Jaks in open market without interfering much market price now, a forward step before value emerging later once all loss making in LAD behind, heading to new profit making power plant.
22/09/2019 10:19 AM
hng33 Please take note the company holding the BOT is JAKS Hai Duong Power Company, which is in a 50:50 joint venture between Jaks and China Power Engineering Consulting Group Co Ltd (CPECC).

In turn of future profit recognition from power plant, Jaks have equal stake in the joint venture. Although the effective stake will dilute due to CPECC holding convertible preferential share in JV.

The revenue account in JV is very flexible. Take for example, ecoworld international have 70% stake in London project, but it opt not to recognize any revenue from JV. Sapura OMV have 50% stake in JV, also opt not to recognize revenue in JV. Another example is Malton dispose 49% in pavilion mall, still holding 51% stake and yet opt not to recognize in JV future revenue. Earlier example also like Puncak holding 70% stake in syabas, but opt no revenue in JV.

From above example, one can understand it is flexibility in accounting treatment once the company is classified as joint venture company. Either the majority stake, equally stake or minority stake in joint venture company can have option to consolidate or no in revenue recognition. However, the net profit is still based on effective stake in JV
22/09/2019 10:43 AM
Sslee Dear hng33,
May I ask since when JAKS Hai Duong Power Company, become a 50:50 joint venture between Jaks and China Power Engineering Consulting Group Co Ltd (CPECC)?

JAKS FY 2018 annual report: Details of the joint ventures are as follows:
Name of JV: Place of Business/Country of Incorporation: Effective Economic Interest 31.12.2018 %: 31.12.2017%: 1.1. 2017% : Principal Activities:
JV held through JAKS Power Holding Limited (“JPH”)
JAKS Pacific Power: Hong Kong Limited* (“JPP”): 30: 30: 30: Investment holding
Indirect JV held through JAKS Pacific Power Limited
JAKS Hai Duong Power Company Limited* (“JHDP”): Vietnam: 30: 30: 30: Develop and operate coal-fired thermal power plant

JAKS Q2 report end 30 June 2019.
Capital contribution contracted but not provided for in respect of shares subscription in JAKS Pacific Power Limited, joint venture of the Group amounted to approximately USD72.14 million or RM298.8 million, using exchange rate of USD1 : RM4.142.

Thank you
22/09/2019 1:09 PM
DK66 Allow me to clarify on the ownership of this joint venture, JHDP.

JHDP is at this juncture a 50:50 joint venture between Jaks and CPECC. Jaks has 3 out of 5 board seats. This relationship must be maintained up to 3 years after the commercial operation date of the power plant. Why ?? This is to avoid violation of the investment certification issued by Vietnam government.

After the expiry of the 3 years period, CPECC will convert its RCPS and gain 70% control as well as 3 out of 5 board seats. Within this 3 years period, Jaks has the option to purchase a portion of RCPS at carrying cost such that Jaks will increase its effective interest in JHDP to 40%.

Despite the current 50:50 ownership, it is agree that Jaks' economic interest in JHDP shall only be 30% including distributions, if any.
22/09/2019 1:34 PM
hng33 Dear sslee

Please study detail of jaks and CPECC JV structure

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4793029
22/09/2019 2:30 PM
hng33 Please take note, CPECC holding RCPS or preferential share have NO voting right unless it is converted into common share 3 year later after power plant commecial operation.
22/09/2019 2:47 PM
Nikmon Sslee keep getting it wrong...Sslee what is your thought now, power plant completing soon within 6 months
22/09/2019 3:14 PM
Sslee Dear DK66 and hng33,
Thank you for pointing out my mistake, the JPP is indeed a 50:50 JV between JPH and CPECC without taking into account of RCPS( RCPS shall rank in pari passu with all dividends payable by the Issuer to the JPP Shares)

(i) JPH to subscribe for approximately 140.14 million ordinary shares in JPP (―JPP Shares‖) at the subscription price of approximately USD140.14 million (approximately RM528.81 million); and

(ii) CPECC to subscribe for approximately 140.14 million JPP Shares at subscription price of approximately USD140.14 million (approximately RM528.81 million), 186.85 million redeemable convertible preference shares in JPP (―RCPS‖) at subscription price of USD186.85 million (approximately RM705.08 million) and 100 ordinary shares in JPP (―JPP HKD Shares‖) at subscription price of HKD100 (approximately RM48.68);

Upon completion of the Subscription Agreement, JPH’s shareholding in JPP will be reduced from 100% to 50% whilst CPECC will own 50% in JPP and 186.85 million RCPS. The Effective Economic Interest of JPH and CPECC in JPP taking into account both the ordinary shares in JPP and RCPS shall be in the ratio of 30% and 70% respectively. Pursuant to the Option Agreement, JPH has the option to acquire from CPECC such number of RCPS or such equivalent number of JPP Shares upon conversion of the RCPS into JPP Shares or such combination of number of JPP Shares and/or RCPS, whereupon upon exercise of the Option, JPH’s Effective Economic Interest in JPP shall be up to 40%

The board of directors of JPP shall consist of five (5) directors and upon JPH and CPECC being shareholders of JPP, the composition of the directors of JPP shall be as follows: (a) three (3) directors to be nominated by CPECC; and (b) two (2) directors to be nominated by JPH.

The parties hereby agree that the Board of Directors for JHDP shall consist of five (5) directors and upon JPH and CPECC being shareholders of JPP, the composition of the directors of JHDP shall be as follows:-
(a) From the date of JPH and CPECC becoming shareholders of JPP up to three (3) years from the Commercial Operation Date of the Project:-
(i) three (3) directors to be nominated by JPH; and (ii) two (2) directors to be nominated by CPECC.
(b) After the expiry of three (3) years from the Commercial Operation Date of the Project:-
(i) three (3) directors to be nominated by CPECC; and (ii) two (2) directors to be nominated by JPH. The chairman of the board of directors in JPP will be a person nominated by CPECC from time to time and the chairman of the board of directors in JHDP will be a director nominated (from the date of the SHA up to three (3) years from the Commercial Operation Date) by JPH and (after three (3) years from the Commercial Operation Date) by CPECC.

Thank you
22/09/2019 4:16 PM
DK66 This topic on Joint venture has prompted me to write my next article " An excellent joint venture deal with CPECC "
22/09/2019 5:17 PM
Nikmon Thumb up to DK66, really appreciate your effort sharing genuine information. The next few month jaks will be rise with the good news from power plant and pacific start retail opening.

Bad news is pacific star residence going to delay again to next year...stupid.

Bonus would be win the court case successfully claim back 50 million.
22/09/2019 6:53 PM
DK66 Nikmon,

Thanks, I just hope readers here can be properly informed when making their decision.

--------------------------
Nikmon Thumb up to DK66, really appreciate your effort sharing genuine information.
22/09/2019 7:17 PM
hng33 Pacific Star Shop To Let

Location: Jalan 13/6, Section 13, Petaling Jaya
Type: Shops
Floor: Ground
Built up: 1,100 sq ft
Asking rental: RM 5,000 per month
Available in June 2019
Remarks: New F&B hub.

For further information and viewing appointment, kindly contact, sms, whatsapp or email:
Ame Turner (PEA1090)
012-3392125
ame.turner@carey.com.my
REN: JA/MS
22/09/2019 9:09 PM
TCapitalGroup https://klse.i3investor.com/blogs/TCapitalGroup/226098.jsp
TCapital Group -【上市公司常做的10个Corporate Exercises 和对股价的影响 Part 2】 - TCapital Group Stock Sharing Knowledge | I3investor
22/09/2019 10:49 PM
DK66 https://klse.i3investor.com/blogs/Jaks%20resources/226058.jsp
22/09/2019 11:29 PM
SarifahSelinder Saat saat yg ditunggukan soon
23/09/2019 8:33 AM
Ricky Kiat bro dk66 , big thanks to u.
23/09/2019 8:45 AM
hng33 Recall earlier Jaks form JV with another Chinese company Wuhan Kaidi Electric Power Engineering lapsed in which Jaks hold majority shareholding 60% vs Kaidi 40%.

Jaks did scarify its controlling stake to CPECC, but compensated with better deal on deferred option to buy RCPS at ORIGINAL cost after 3 year power plant operation to retain 40% stake.
23/09/2019 9:02 AM
DK66 Ricky Kiat,

You are welcome

----------------
Ricky Kiat bro dk66 , big thanks to u.
23/09/2019 9:09 AM
deMusangking aiyoh, dun worri lah!!!
the great day will come!!!
when i believe, it will happen! as sureli as it must!!!
hahaha
23/09/2019 9:11 AM
Sslee Agree with deMusangking the usd 30 million distribution from JPP is coming soon.
23/09/2019 10:24 AM
RainT wah
23/09/2019 11:41 AM
edkfc Glad to see earnest and fruitful sharing going on here...D-Day is not so far away
23/09/2019 4:18 PM
Investar2862 Thank you @DK66 for your generous sharing.
You have contributed a lot to this JAKS forum.
Good job.

Posted by DK66 > Sep 22, 2019 11:29 PM | Report Abuse

https://klse.i3investor.com/blogs/Jaks%20resources/226058.jsp
23/09/2019 8:14 PM
DK66 Investar2862, You are welcome.

------------------
Investar2862 Thank you @DK66 for your generous sharing.
You have contributed a lot to this JAKS forum.
Good job.
23/09/2019 8:35 PM
deMusangking Dk66 punya tail also goes up!!!
soon Jaks also will be on the top of the beanstalk!!!!!

haha
23/09/2019 8:36 PM
DatoLim24 Will Push more tomorrow
23/09/2019 9:14 PM


 

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