Dear Friends of i3 Forum,

Jaks has released its latest Results

With lots of debates in Jaks Forum both for and against

Now let us take a candid look 

Please Refer to Bursa Web

And see Jaks latest Results

YoY Jaks profit dropped from 0.9 sen to 0.35 sen

A Drop of 61% (That is a Huge Drop!)

NAV Shrunk from 62 sen to 59 sen

Now let us look inside its balance sheet

Refer bursa

Cash and bank balances

Rm31,955,000 (2024)

Rm 41,803,000 (2023)

Cash dropped from Rm41.803 Millions to Rm31.955 Millons

A Drop of Rm9,848,000 Millions or 23.5%

Deposits placed with licensed banks

Rm12,074,000 (2024)

Rm 22,222,000 (2023)

Deposits dropped from Rm22.222 Millions to Rm12.074 Millions

Or dropped by Rm10.148 Millions  (Drop by 45.6%)

​

Rm19.996 Millions (Less Cash)

Now see debts

Long Term Borrowings

Rm407,622,000

Rm420,581,000

Long term borrowings dropped by Rm12.959 Millions

Bank borrowings

Rm59,894,000

Rm68,200,000

Bank borrowings dropped by Rm8.306 Millions

Total Borrowings less by Rm21.265 Millions

So While Jaks total improvement is Rm

Rm21.265 Mil less Rm19.996 Mil

= Improved by a mere Rm1.27 Millions after 6 months

But see further

JAKS RESOURCES BERHAD

REGISTRATION NO. 200201017985 (585648-T)

A. NOTES TO THE INTERIM FINANCIAL REPORT (cont’d)

JAKS - Page 7

(i) Private Placement

After the Price-Fixing Announcement 1, a total of 180,700,000 of new Placement

Shares were listed on 15 May 2024, raising approximately RM21.684 million. On

24 June 2024, after the Price-Fixing Announcement 2, a total of 56,285,000 new

Placement Shares were listed, raising approximately RM8.161 million. Total

amount received under first and second tranches is RM29.845 million.

The miniscule amount improvement of Rm1.27 Millions was covered over by

A Private Placement of Rm29.845 Millions

And if not for this Sum then Jaks will see a Net Drop of over Rm28 Millons Extra Deficit

Now See its Total Borrowings

Rm407.622 Millions Plus Rm59.894 Millions

= Rm467.516 Millions

Less Cash Rm44.659 Millions

TOTAL NET DEBT = RM422.857 MILLIONS

For this Sum Jaks has to pay Yearly Hefty Bank Interest

And after so many Qtrs Jaks still got

Refer to Bursa)

Trade and Other Receivables

Rm421.135 MILLIONS (IOUs Paper only)

Of these How Much will turn into Bad Debts like Megan Media, Serba or Sendai?

See Further (Refer Bursa)

Current Liabilities

Trade and Other Payables 

Rm457.827 MILLIONS

While Jaks did not Receive Payments from IOUs (Receivables)

Jaks is chased for Payments up to

Rm457.827 MILLIONS

So Chased by Banks for

TOTAL NET DEBT = RM422.857 MILLIONS

JAKS TOTAL INDEBTEDNESS IS A WHOPPING

RM457.827 MIL & RM422.857 MILLIONS

= RM880.684 MILLIONS TIME DEBT BOMB!

So Jaks Accounts are indeed Precarious

Jaks will be hard up by both Banks & Creditors Chasing for Payments with Interest Penalty for delayed payments while it has little recourse chasing IOUs now Long Overdue

What should you do?

Better sell early before Jaks go for more

Private Placement (Will Dilute Your Share Value)

Or worst 

Jaks give out Rights Issue to ASK FOR MONEY

Or?

Banks & Creditors SUE JAKS FOR PAYMENTS AND THEN INSOLVENCY, PN17 & THEN?

Unthinkable

With Kind Regards

Calvin Tan

Please buy or sell after doing your own DUE DILIGENCE or Consult Your Remisier/Fund Manager

It is said

Better be Safe than Sorry

Or it has been said

"He who fights and run away will live to fight another day"