i think the price should b floating around 40cent until good news out...looking at the EMA going to touch 70 soon... got one big tanker here...

November already already WTE still no news hahahah noob management

i went back to check SD announcement and the change of auditor is requested by one of its substantial shareholder.
but for cypark case, the current contract ends, hence cypark looking to change.... but the reason they gave is due to cost issue....auditor fee so expensive meh?

GG.COM is it normal for a listed company to change auditor after the contract ends?!?!?!? don tell me is serbad 2.0

sell and declare dividend instead of re-invest into the company to further expand the business....

after the dividend ex-date, share price going to drop further...GG... no ppl want to but this counter....

yesterday Mr.Chung spent around RM1.8million, he is not pushing the price yet....still collecting

i do not think is pump morning dump afternoon, wait for tomorrow news, i believe should be Mr.Chung buy in this morning. and retailer sell off

hahaha i give up on cypark management liao...memang no credibility zor
invested cypark coz of its potential future recurring revenue nia
buy low sell high lor, at the same time keep collect free ticket for future dividend payout, thts the strategy now

chill lar star168. WTE plant already completed, testing also almost finishing....

those who sold to Mr.Chung probably those short sellers who bought at at super low price. i don think they rugi selling off to Mr.Chung... i am curious WHO is the big kaki that subscribed to the PP??? PP price was around average 90 cent +/- which consist of 20% total cypark share....

no doubt, WTE confirm going to COD very soon once gotten approval from state government.
now, the question should be, once WTE has gotten its green light and start to go live, how will this impact on their balance sheet and cash flow? End of the day, we want to see cypark receivable reduced and improved cash flow after WTE started to generating revenue.
(not to forget 1) 98 MW LSS2 floating solar projects and 2) 172 MW LSS3 project going to get its COD end of 2022 )

we have Mr.Chung keep collecting non stop

Current status
o T&C status is ongoing and warm test has commenced.
o We already started first firing as part of warm test of the WTE.
o The Waste Segregation & Recycling Facilities has been successful tested and commissioned
and ready to treat and recycle incoming solid waste. The components of SMART WTE
facilities have been in operation and capable of handling incoming solid waste of up to 1000
tonne per day.

good news soon....be abit more patient...

https://drive.google.com/file/d/1qJ49Czx_DSL3nlJqKMIlTKhb-DFQ7ycX/view

website cannot access?!?!?!!?? what the hel?

no ppl short sell this counter also...so who keep selling?? sell with no news?? something big going to happen?

this one is goreng stock. controlled by owner :)

free ATM for the bosses

ok top up today, my 4th average down GG

wait until year end... if not cabut?

who is Chour Au?

yes!!! this is my only concern...project forever delay :(

come on guys...please understand the business model before you start to curse cypark's receivable... most of its receivables will only be reduced once the LSS2,3 & WTE starts to commission... Cypark is financing the entire project and they will only get paid once the plants is completed... Once the plant starts to produce electricity and resell it to TNB and yet no sign of improvement on its receivable, thn i think this company is gg.com

@Serendipity, well, this explanation make sense to me now.

btw, will they announce the subscriber identity once it is finalized?

if that's the case, who would want to subscribe to PP? does not make sense to me...

I mean the 200m a year

Hey mni75, mind sharing where u get this information from?

those who invests in Cypark see a very big revenue growth in their future earning, i am talking in-terms of their recurring revenue. also at the same time possibility of securing more EPCC contract.

HOWEVER, the management is selling off their share in the expenses of minority shareholder. Cypark business model is undoubtedly good, but it is thee management who is doing shitty stuff jeopardizing the shareprice...

some might argue their receivable is high, but this is out of the question, because once the solar farm/WTE is in operation, those receivable will be paid off via selling electrify to TNB. if you want to see tremendous reduction in their receivable, wait until their plant is fully operation.

so now the question is, WHEN??? they keep postpone their Commercial Operation Date...i know this is due to covid..but still... forever no ending COO date...

@Karlos, i do agree their revenue will increase tremendously once their LSS2, 3 and WTE has gone into production. and the high trade receivables / contract is expected in such business model.

however, whats your thought on the receivables that are past due for more thn 90 days? a total of 12.4million... this is not a heathy sign...

ok guys... i want to re-calculate the dividend again lol

Q1 2020 - 5M
Q2 2020 - (2.1M)
Q3 2020 - 12.7M
Q4 2020 - 5M << i think can lar horrr

if FY2020 Net Profit got 20M ....

thn company will issue 0.05 to 0.06 dividend = 6% to 7% ( with RM1.00/ share)

i think still good money :)

0.89 here :(

@sephirohn12, you can find ur asnwer in the below linkS for your reference...i did verify the post he shared, seems accurate following whatever Daud's comment. the only possibility i could think of is LSS2 got 3 different sites, so maintenance could be higher as oppose to LSS3 1 single site.

-http://ir.chartnexus.com/cypark/docs/agms/Summary%20of%20Key%20Matters%20Discussed%20at%20the%20Postponed%2015th%20AGM%20held%20on%2018%20June%202020.pdf
- https://www.nst.com.my/news/nation/2019/09/518408/malaysia-needs-rm33bil-investment-hit-renewable-energy-target
- https://www.st.gov.my/contents/2020/Copy%20of%20LSS%20Progress%20By%20Region%20(Q1).pdf
- https://www.theedgemarkets.com/article/govt-targets-six-wastetoenergy-plants-2021
- https://www.theedgemarkets.com/article/better-earnings-visibility-prospects-cypark
- https://www.theedgemarkets.com/article/cypark-sees-doubledigit-revenue-growth
- https://www.theedgemarkets.com/article/tnb-awards-three-lss3-projects-total-capacity-29088-mwac
- https://www.theedgemarkets.com/article/cypark-reorganises-loans-address-debtcash-flow-mismatch

copied#

2) On-Going Projects

LSS1 - 15 MWac
- targeted Commercial Operation Date: 31 Dec 2020
- Daud (CEO) estimated RM10 million annually
- This will contribute to FYE 2021

LSS2 - 3 x 30 MWac = 90 MWac
- targeted Commercial Operation Date: 31 Dec 2020
- Daud (CEO) estimated RM25 million annually
- This will contribute to FYE 2021

WTE - 20 to 25 MWac
- targeted completion Date: 31 Dec 2020
- Daud (CEO) estimated RM80 million annually
- This will contribute to FYE 2021

LSS3 - 100 MWac
- TNB has inked three LSS3 Power Purchase Agreements.
- Daud (CEO) estimated RM50-60 million annually
- This will contribute to FYE 2022

Net Energy Metering (NEM) ProjectS
- Unknown MWac

Once the above projects are completed, it will be owned, operate & managed by Cypark

i think PBInvest is being conservative is their forecast...

the latest QR also mention the WTE is expected to commission early next year

english version:

https://www.theedgemarkets.com/article/malaysia-told-reconsider-entry-ban-citizens-countries-over-150000-covid19-cases

@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

https://www.theedgemarkets.com/article/myhsr-corp-calls-tenders-appoint-consultants-klspore-hsr

it is coming very soon !!!!! HUAT AA

this one is for long term one... hopefully FY2020 Net Profit got atleast 20M ....

thn company will issue 0.05 to 0.06 dividend = 7% to 7.5% ( with 84 cent price)

Net Profit:
2017 - RM 59.8M
2018 - RM 21.9M
2019 - RM 35.8M
2020 - RM 20M <<<<<<<<< CAN OR NOTTT?!?!?!? Q1 already 5mil
2021 - more thn 50M ????? got mega project, and Gov protecting CSC steel price from importer!!!

anybody???

@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?

@EatCoconutCanWin where u find the news from?

when are they going to stop selling....

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.

@jason85, where do u find their sales are doing good? can share?

i suspect got 1 x local institutional is slowly collecting this share since 16 July...

16 july - bought 1152++ lots @ 0.830
24 july - bought 1305++ lots @ 0.845
28 july - bought 1159++ lots @ 0.830

should i average up abit?? ehmmm

@Jason, if FY2020 still can maintain 30 million net profit, with the current price (RM0.84) we can get around 8% dividend for 2021 :) hahaha somemore those ppl bought at 70cent or lower sure happy daooo

many more to learn from you BabyAce

@BabyAce, how do you decide if a company's EPS is consider healthy? The EPS between Paramount and others competitors seems to have a big gap

on top of that, HSR,ECRL, maybe construction projects ( i believe coming soon) will benefit CSC :)

hahaha but thanks to your blog...after reading and did some research... decided to go with Paramount over MahSing and Eco
Paramount revenue steadily increase year over year as oppose to the competitors