Hoho Repost :

Jaks : catched the Bottom Fishing at RM 0.185 on April 2023 ( 👉 after Sslleee posted sold Jaks on April 2023 since 2017 ) ... Up to RM 0.225 in 2 months .. then invested at RM 0.19 on July 2023 .. Gap Up on 1/9/2023 to RM 0.245 …


As said earlier 2025 Shl be Jaks year .. since LSS5 Tender RFP dateline is brought forward to 25/7/2024 from December 2024 .. focus back to Jaks .

>> Jaks currently a Calculated Risk Stock is turn around to be a potential Growth stock , why ? :

A) Jaks CEO ( the only substantial shareholder from 9.9 % ( 2017 ) to 14 % ( 2023 ) , after Uncle K intention to take over with 30 % on 2017/2018 , is failed ) had successfully steered the company diversified into Power industry: Vietnam Joint Venture Power Plant 1200 MW with CPECC , EPCC value RM 8.7 Billion… construction is started on October 2016 , fully Commercial Operating Date on January 2021 with BOT 25 years concession:

As an 30 % associate joint venture company contributing share of profit n Dividend to Jaks since 2021 :

Jaks Annual Revenue and Net Profit / ( Loss ) :


1.) FYE2020 : RM 259.4 million with Loss ( RM 80.5 Million. )


2.) FYE2021 : RM 109.7 million with Net Profit RM 51.9 million.


3.) FYE 2022 : RM 89.8 million with Net Profit RM 53.5 million.


4.) FYE 2023 : Rm 37.787 million with Net Profit RM 15.527 million..


5.) FYE 2024 :

>> 👉1QR : RM 14.2 million with Net Profit RM 12.4 million.

>> 👉2QR : RM 13.1 million with Net Profit RM 8.4 million.

>> 👉3QR : RM 14.1 million with Net Profit RM 22.5 million.



B ) LSS4 50MW Solar Project in Penang is COD on August 2023 with 25 years TNB PPA ( increased from 21 years ).

1.) QR ended March 2024 :

👉Revenue: 5.3 Million , Profit RM 0.96 Million … 18%


2.) QR ended June 2024 :

Revenue : 4.8 million, Profit RM 0.4 million.. 8.33 %


3.) QR ended September 2024 :

👉 Revenue : 4.7 million, Profit RM 0.3 million.. 6.38 %


👉👉 Average Profit % for 9 months of 2024 is 10.94 %


👉👉 Average Profit % for Half year 2024 is 13.22 % … compared to Yinson Half year ( February to July 2024 ) FY2025 is 13.85 % ( RE in India )



C.) CGPP 30MW Solar project is awarded on August 2023 to Jaks consortium with 2 partners ( Jaks holding 51 % ) …COD is scheduled by 4Q 2025 .
Jaks Shl be benefited on the EPC contract also .

CGPP winners can sell RE electricity directly to end user / customer, but thru TNB power grid as TPA ( Third Party Access ) . CRESS details is expected to be announced in September 2024 , but the Mulling charges is announced oredi on 22/8/2024 .

Update : CRESS is effective from September 2024 after 1 month discussion with industry generators/ players ) .

800 MW CGPP winners can even sell RE electricity cross border.( To Singapore ) .



D.) LSS5 2000MW Solar Project, EPCC value is estimated RM 7.2 Billion, tender RFP dateline is brought forward to 25/7/2024 from December 2024 ):

Jaks partner again with CPECC ( Vietnam 1200 MW Power Plant partner 70 % ) >>> Jaks 51% : CPECC 49% , tendered 200MW ( with intention up to limit 500 MW ) ….. Land : 1730 acres in Terengganu is leased from TDM .


E.) Jaks :
CAGR : 3Y + 29.9 % TTM + 41.2 %

Yinson :
CAGR : 3Y + 83 % TTM + 31.9 %

Hoho chamlor .. Jtiasa Total Assets is Less RM 437 million … is D&A less 17.75 % over 5 years !!! 😱😱😱🤫

Post removed.Why?

Hoho copied from Jtiasa:

Posted by Mikecyc > 1 day ago | Report Abuse

Haha konartist sslleee Jtiasa just 1 year impairment RM 151.2 million is more than Jaks total 5 years Impairment… how about preceding FY … no wander Total Asset is keep reducing:



👉👉👉 FY24 : Impairment of Total RM 151.2 million!😱🤔


>> Referred to QR ended September 2024 :

👉Total Assets : RM 1970 million vs June 2024 RM 1979 million , is reduced by RM 9 million.

👉👉Acquisition n Disposal of PPE :

> Acquisition = RM 9.1 million
> Disposal = ( RM 0.94 million)

Total Assets is reduced:

2019 : RM 2406 million

2023 : RM 1955 million ( - 451 million )

2024 : RM 1979 million ( + 24 million )

👉👉Is reduced by RM 427 million from 2019 to 2024 , ie : over 5 years .

Hoho TinKosong Group Leader Konartist sslleee twisted in Jtiasa on …


👉👉👉 FY24 : Impairment of Total RM 151.2 million!😱🤔

Is due to D&A …..


Posted by Mikecyc > 22 hours ago | Report Abuse

Haha as usual the Best Wayang Director Konartist sslleee like twisting on Insas Other Operating Expenses is High yearly.. he said is Due to Commission, want to write to Insas to include Commission wording in Other Operating Expenses… after Big 👄 then Diam Diam Anjj jjing liaw …🤣🤣🤣👍 



So Konartist sslleee still No update on yr AGM questions… is a Bad sign le .. 😱😱😱🤔




👉Is impairment included in depreciation and amortization? 



Impairments are not the same as depreciation or amortization. In the case of depreciation or amortization, the loss of value of the asset is anticipated and planned for. With impairment, the loss in value is unexpected. 



Impairment is the permanent reduction in the value of a fixed asset or intangible asset to the point that its market value is less than the value recorded on the financial statements. Under GAAP, impairments are entered as a loss on the income statement. Impairments are not the same as depreciation or amortization.

Hoho TinKosong Group Leader Konartist sslleee maybe can brief yr TinKosong kongang on this , and read thru Jaks QR ended September 2024 :


Hoho so is worst than Jaks that the share of profit from Finance investing !


—

This is so that Yinson’s investors can have a better understanding of how the accounts will look from a finance lease and operating lease perspective.

IFRS is still what Yinson is required to follow. Even though presenting the operating lease numbers is not in line with IFRS, it is something that Yinson will look at doing better to explain its numbers in the next financial year.

TinKosong Group leader Konartist sslleee , yr TinKosong gang understand what is Trailing and TTM ? 🤣🤣🤣🤔


KISS : Keep in Simple and Safe , with latest Update information…

Jaks :


Trailing PE (Sector Median: 21.1) 18.9
Current Ratio 1.04
Debt-Equity (DE) Ratio 0.64
FCF Yield 0.78 %

CAGR : 3Y 29.9% TTM. 41.2%

1.) Jaks : Price RM 0.135
Current Ratio 1.04
FCF Yield 0.78 %
Debt-Equity (DE) Ratio 0.64


2.) Yinson : Price RM 2.60
Current Ratio 0.64
FCF Yield -10.63 %
Debt-Equity (DE) Ratio 2.27

1.) Jaks : Price RM 0.135
Current Ratio 1.04
FCF Yield 0.78 %

2.) Yinson : Price RM 2.60
Current Ratio 0.64
FCF Yield -10.63 %

The current ratio, also known as the working capital ratio, measures the capability of a business to meet its short-term obligations that are due within a year. The ratio considers the weight of total current assets versus total current liabilities.

—

Posted by Johnchew5 > 12 minutes ago | Report Abuse

Hoho what a TinKosong Konartist Group le :

1.) Konartist sslleee : Promoted SCIB with TP RM 1.00 by early 2025 … but didn’t know the Major ( over 20 % ) is on Force Sell .🤣🤣🤣🤔

Even did not understand “ Current Ratio “ before touch on FCF .

Oh the worst is Not Understand Labour Expenses and CAPEX ..🤣😱

Post removed.Why?

Hoho as usual the TinKosong Group just twisting …

KISS : keep in Simple n Safe although I’m in Calculated Risk Stock …

Hoho just on FCF yield :

1.) Jaks : Price RM 0.135
FCF Yield 0.78 %

2.) PMCorp : Price RM 0.135
FCF Yield -5.37 %

3.) Yinson : Price RM 2.60
FCF Yield -10.63 %

4.) SCIB : Price RM 0.25
FCF Yield -13.07 %

—

Posted by Sslee > 5 minutes ago | Report Abuse

In case you can't understand the above mean:
EBITDA is expected to reach about USD 1 billion annually from 2026
USD 700-800 million will be used for repaying debt and interest based on today’s interest rates

Balance FCF USD 200 – USD 300 million annually will be used either as dividend to reward shareholders or for business expansion.

And if interest rate drop, interest payment will be less and thus FCF will be more

Hoho Repost :

Jaks , PMcorp n Yinson financial ratios comparison: 👉 ( add in Konartist Sslleee promoted SCIB with TP RM 1.00 by early 2025 , without knowing the Major over 20 % is on Force Sell .😱🤔) :


1.) Jaks : Price RM 0.135

EPS 0.71 sen
Trailing PE (Sector Median: 21.1) 18.9
Current Ratio 1.04
Debt-Equity (DE) Ratio 0.64
FCF Yield 0.78 %
Revenue QoQ 7.74 %
Revenue YoY 41.26%
Profit QoQ 167.57 %
Profit YoY 215.31 %
Profit Margin (Sector Median: 4.0) 35.93 %
ROE (ROIC: 0.73) 0.93 %
NTA 0.6000


2.) PMCorp : Price RM 0.135

EPS -12.97 sen
Trailing PE (Sector Median: 14.0) 0.0 ( - 1.04 )
Current Ratio 1.42
Debt-Equity (DE) Ratio 0.6
FCF Yield -5.37 %
Revenue QoQ -11.14 %
Revenue YoY -11.14%
Profit QoQ 88.2 %
Profit YoY -171.45 %
Profit Margin (Sector Median: 2.1) -46.2 %
ROE (ROIC: 11.05) 12.81 %
NTA 0.2326


3.) Yinson : Price RM 2.60

EPS 28.52 sen
Trailing PE (Sector Median: 9.5) 9.1
Current Ratio 0.64
Debt-Equity (DE) Ratio 2.27
FCF Yield -10.63 %
Revenue QoQ -3.25 %
Revenue YoY -29.03%
Profit QoQ 0.0 %
Profit YoY -2.4 %
Profit Margin (Sector Median: 5.8) 8.99 %
ROE (ROIC: 4.16) 10.24 %
NTA 1.8900


4.) SCIB : Price RM 0.25
EPS 0.33 sen
Trailing PE (Sector Median: 13.7) 74.8
Current Ratio 1.53
Debt-Equity (DE) Ratio 1.1
FCF Yield -13.07 %
Revenue QoQ 0.13 %
Revenue YoY 14.57%
Profit QoQ -166.01 %
Profit YoY -223.97 %
Profit Margin (Sector Median: 6.4) 1.27 %
ROE (ROIC: -10.78) -12.47 %
NTA 0.2300

Hoho Repost :

But Assets :

Non current contract asset : RM 11,389 m

Current contract asset : RM 544 m

👉Total Contract asset = RM 11,933 m


👉Total Loans n Borrowings = RM 19,580 m

USD Loans n Borrowings interest is 12 % n 13.88 % ( AR FY24


👉Question:

Non current Finance lease receivable = RM 8,164 million

Current Finance lease receivable = RM 165 million

👉> Total Finance lease receivable = RM 8,329 million 🤔

Hoho as on the risk of FPSO Atlanta First Oil is Delayed … the coming one shl focus on FPSO Agogo .. is scheduled to be commissioned by end 2025 .. First Oil by early 2026 ..

Yinson Production completes USD 1.3 billion debt financing for the Agogo FPSO

2 May 2024 — The financing is provided by a consortium of 13 lenders, including international banks and institutional investors, and will be utilised over ...

—-

Posted by Sslee > 3 minutes ago | Report Abuse

Repost:
Just a simple summary:
EBITDA is expected to reach about USD 1 billion annually from 2026.

Free cash flow after repaying debt and interest to reach USD 200 – USD 300 million annually from 2026 onwards, based on today’s interest rates

And if interest rate drop then FCF will be more.

Hoho as on the risk of FPSO Atlanta First Oil is Delayed … the coming one shl focus on FPSO Agogo .. is scheduled to be commissioned by end 2025 .. First Oil by early 2026 ..

Yinson Production completes USD 1.3 billion debt financing for the Agogo FPSO

2 May 2024 — The financing is provided by a consortium of 13 lenders, including international banks and institutional investors, and will be utilised over ...

Yinson FY2024 Annual Report:

1.) Loss from net investment Hedge , ( RM 125 million)

2.) Reclassification of changes in fair value of cash flow hedges , ( RM 180 million) .

3.) Interest expenses on Loans n Borrowing = RM 1,118 million.

4.) Treasury shares ( SBB ) : 157,333,000 unit ( 4.94 % , RM 369 million)

5.) Loans n Borrowings :

A.) Sukuk Wakalah : Fixed rate at 5.55 % per annum : RM 1,005 million

B.) Term Loans :

1.) Fixed rate at 12.0 % per annum USD > RM 1,061 million

2.) Fixed rate at 13.88 % per annum USD > RM 1,237 million.

3.) Floating rate vary based on Cost of funds USD > RM 478 million

4.) Floating rate vary based on Secured Overnight Financing Rate USD > RM 10,808 million.

5.) Floating rate vary based on Cost of funds INR > RM 851 million

5.a) INR > RM 141 million

Rate is reset every 5 years .

6.) Revolving Credits

Floating rate vary based on Cost of funds USD > RM 115 million

C.) Unsecured:

7.) Term Loans : Floating rate vary based on Secured Overnight Financing Rate USD > RM 543 million.

8.) Revolving Credits: Floating rate vary based on KLIBOR RM 179 million

9.) Floating rate vary based on Cost of funds RM 101 million.

—

Posted by Sslee > 3 minutes ago | Report Abuse

Except for the borrowings of RM17,576 million (31 July 2023: RM9,109 million) denominated in US
Dollar, RM772 million (31 July 2023: RM767 million) denominated in Indian Rupee, RM4 million (31
July 2023: NIL) denominated in Singapore Dollar, all other borrowings are denominated in Ringgit
Malaysia.
Increase in outstanding total loans and borrowings was mainly due to additional loan facilities drawn
down for project and working capital purposes.

So you tell me what will be the FX unrealised gain on above USD borrowing?

Hoho this is scary also ..more worried as FPSO Atlanta First Oil is Delayed from initial commission by February 2024 .. First Oil by May 2024 .. is Delayed to August 2024 .. further Delayed to end November 2024 .. still is No progress Update??? 😱🤔

But Assets :

Non current contract asset : RM 11,389 m

Current contract asset : RM 544 m

👉Total Contract asset = RM 11,933 m


👉Total Loans n Borrowings = RM 19,580 m

USD Loans n Borrowings interest is 12 % n 13.88 % ( AR FY24


👉Question:

Non current Finance lease receivable = RM 8,164 million

Current Finance lease receivable = RM 165 million

👉> Total Finance lease receivable = RM 8,329 million 🤔

Hoho worried hidden risks on Yinson QR ended April 2024 n July 2024 :

>QR ended April 2024 , Net Profit RM 203 million- RM 236 million ( increased of Loans n Borrowings) = - RM 33 million.

>> QR ended July 2024 , Net Profit RM 203 million- RM 3,025 million ( increased of Loans n borrowings) = - RM 2,822 million.😱



-

Yinson Loans n Borrowings:


3.) QR ended July 2024

RM 19,580 million


👉Compared Q to Q : is increased by RM 3,025 million.



2.) QR ended April 2024

RM 16,555 million.


👉Compared Q to Q : is increased by RM 236 million.


1.) QR ended January 2024

RM 16,319 million.

JAKS Solar Nibong Tebal: multilateral financing facility

RM112.5 million (US$26.5 million)

March 2022


Summary of terms and conditions
Islamic facilities amount RM112.5 million (US$26.5 million)
– Term financing facility RM80 million (US$18.84 million)
– Bank guarantees RM27.5 million (US$6.48 million)
– Cash line facility worth RM5 million (US$1.18 million)
Type of facility Mixture of project finance and working capital facilities.
Use of proceeds 1. Working capital requirements
2. Project costs including engineering, procurement, construction and commissioning works, professional fees, land leases and related expenses
3. Prefunding debt service reserve account
4. Financing cost of the facilities during construction
5. Fees and expenses in relation to the facilities
Tenor Term financing facility: Up to 16.5 years (inclusive of an 18-month grace period)
Cash line facility: On demand
Bank guarantees: Up to two years (inclusive of claim period)
Profit rate/yield Undisclosed
Payment frequency Term financing facility: Monthly
Cash line facility: Quarterly/on demand
Bank guarantees: Not applicable
Legal advisor Albar & Partners
Governing law Malaysian law

Hoho so interesting le .. an article on Jaks LSS4 50 MW Solar project in Penang :


Case study: JAKS Solar Nibong Tebal’s multilateral financing facility

By
Marlena Kareem
January 31, 2023

JAKS Solar Nibong Tebal (JAKS Solar), a wholly-owned subsidiary of JAKS Resources, obtained a RM112.5 million (US$26.5 million) financing facility from AmBank Islamic in March 2022 as part of a multilateral financing facility worth RM220 million (US$51.82 million).


AmBank Islamic provided the Islamic portion of the facilities while United Overseas Bank (UOB) provided conventional facilities worth RM125 million (US$29.44 million).


The facilities will fund the development of a 50 MW fourth large-scale solar (LSS4) photovoltaic plant in Seberang Perai Selatan, in the state of Penang in Malaysia in addition to financing working capital requirements.


While JAKS Resources’s principal activity is the construction of power plants, JAKS Solar was incorporated specifically to undertake the development of the LSS4 photovoltaic plant in Penang.


The underlying asset for the multilateral facility is the solar plant which is inherently a sustainable power generation facility.
The Islamic facilities in the multilateral financing comprise a Murabahah Tawaruq term financing facility worth RM80 million (US$18.84 million), two bank guarantees worth RM27.5 million (US$6.48 million) combined and a Murabahah Tawaruq cash line facility worth RM5 million (US$1.18 million).


The bank guarantees consist of a RM10 million (US$2.35 million) facility with a complementary term financing facility with a limit of up to RM10 million and a second bank guarantee of RM17.5 million (US$4.12 million) with a Murabahah Tawarruq complementary term financing facility with a limit of up to RM17.5 million.


👉👉 According to Ng Kit Ho, the senior vice-president of loan markets and debt markets 1 at AmInvestment Bank, the primary challenge faced by the bank in executing the financing facility was the time constraint.


“The time between execution of the power purchase agreement and financials was extremely tight (four months) and was over the festive period,” Ng told ISFI.


According to Albar & Partners, which acted as the legal counsel on behalf of the financiers in this multilateral financing facility, the guarantees required in the facility also posed a challenge.


“Tenaga Nasional, as the off-taker of the power project, would only accept one single performance guarantee for the performance of the borrower under this power project, therefore AmBank Islamic and UOB were required to enter into a fronting arrangement for AmBank Islamic to issue a bank guarantee to UOB as a fronting guarantor, who shall then issue its own conventional bank guarantee to TNB as the performance bond of the power project on behalf of the borrower,” the law firm shared.


👉👉👉 While sustainability-linked financing is steadily increasing in popularity as a financing cost-saving mechanism, Ng shared that JAKS Solar had considered sustainability-linked financing but ultimately decided against it.


Listed on Bursa Malaysia’s Main Market, JAKS Resources’s activities also include construction, power, energy and property investment and it is involved in the development of residential and commercial properties. Its principal geographical areas for its operations are located in Malaysia and Vietnam.

—-

Posted by Sslee > 4 minutes ago | Report Abuse

Yinson
Bank ready to lend money and bond issue oversubscribed by how many time?

Jaks. No bank will dare to lend any more money, jaks unable to raise money from bond market so the only way for jaks is PP at cheaper and cheaper price.

Hoho 10 年 風水輪流轉 ：

USD to MYR Chart
+28.95%
(10Y)
US Dollar to Malaysian Ringgit
1 USD = 4.44462 MYR
Dec 1, 2024 at 02:48 UTC

USD to MYR Chart
+6.44%
(5Y)

USD to MYR Chart
+1.29%
(2Y)


USD to MYR Chart
-4.62%
(1Y)

Hoho so Konartist sslleee what is the Currency Exchange impact on Yinson coming QR ended October 2024 ??

Hoho what a TinKosong Konartist sslleee, why need to prolong Loans n Borrowings payments if can afford to be paid in 10 years….


—-

Posted by Sslee > 23 seconds ago | Report Abuse

JHDP
FYE 2023: FYE 2022
RM: RM
Interest expense (469,976,824) (265,209,747)

Hoho Good Sign on Jaks QR ended September 2024 :

1.) Selling n Distribution Expenses, Other Operating , Administrative Expenses:
RM 13.68 million vs September 2023 RM 30.91 million…..👉 is reduced by RM 17.23 million/ Quarter.


2.) Share of Profit in Joint Venture is RM 36,292,000 vs September 2023 is RM 35,962,000 ….. 👉is increased by RM 330,000 .



3.) Net Profit is RM 22.5 million vs September 2023 is RM 7.1 million….👉is increased by RM 15.4 million.


4.) Borrowings n Over Draft is RM 474.07 million vs September 2023 is RM 494.69 million…..👉is reduced by RM 20.62 million.



5.) Deposit held as Security values is RM 12.08 million vs September 2023 is RM 34.40 …. 👉 is reduced by RM 23.32 million.

—-

Posted by Sslee > 5 minutes ago | Report Abuse

JHDP
FYE 2023: FYE 2022
RM: RM
Current borrowing 711,609,518: 597,039,267
Non current borrowing 3,972,787,018: 4,401,923,432

Hoho why Yinson did not issued PP ? No investor interested ke …

Why Jaks PP so many investors are interested !! Even with the 6 years Legal Battle with Star on the Pacific Star Towers project RM 1.1 billion, Finally is settlement out of court on 5/11/2024 !👍

—-

Posted by Sslee > 2 minutes ago | Report Abuse

By the way the PP investors are smart to subscribe for the PP at discount and then sell the shares back to sharehoders and pocket the profit.

So many rounds of PP but no new substantial shareholder (5% holding).

Hoho why need to prolong the Loans n Borrowings payment if can afford to be pay in 10 years, the interest % accumulating amount is scary le , further with :

Investment certificate
* JHDP shall be entitled to 10% tax rate for the full term of the project.
* JHDP shall be exempted from corporate income tax for 4 years and 5% tax rate for another 9 years from 1st year with taxable income or 4th year whichever is earlier.



—

Posted by Sslee > 3 minutes ago | Report Abuse

The problem with JHDP is using 10 years term loan to finance the project.

Hoho Thats why Yinson is also thirst for New FPSO order as :

FPSO Anna Nery is contributing ard 50 % ( First Oil on May 2023 ) on FPSO segment Revenue where as the other 5 Operating FPSO are contributing 50 % ( ie : illustration > each one contributing 10 % only ) .

Refinancing on October 2024 sold 11.8 % equity of FPSO Anna Nery … ownership is reduced from 75 % to 63.2 % !😱


But Assets :

Non current contract asset : RM 11,389 m

Current contract asset : RM 544 m

👉Total Contract asset = RM 11,933 m


👉Total Loans n Borrowings = RM 19,580 m

USD Loans n Borrowings interest is 12 % n 13.88 % ( AR FY24


👉Question:

Non current Finance lease receivable = RM 8,164 million

Current Finance lease receivable = RM 165 million

👉> Total Finance lease receivable = RM 8,329 million 🤔

Jaks

1.) Vietnam Power Plant Share of Profit n Dividends :


2020 : RM 3.8 million ( 1 Power Plant is COD on Nov 2020 )


2021 : RM 140.7 million ( The 2nd Power Plant is COD on January 2021 ) .


2022 : RM 156.2 million , Dividend RM 70.0 million


2023 : 1QR = RM 28.326 M , 2QR = RM 32.312 M , 3QR = RM 35.862 M , 4QR = RM 34.503 M plus Dividend RM 27.386 M

2023 : RM 131 million , Dividend RM 27.385 million


Total Share of Profit = RM 431.703 Million

Total Dividend = RM 97.386 Million

Total = RM 529.089 Million

> Share of Profit in QR ended March 2024 =
RM 32.384 million

>> Total = RM 561.463 million


> Share of Profit in QR ended June 2024 = Rm 21.33 million

Dividend = RM 14.21 million

👉 Total = RM 597 million.


> > Share of Profit in QR ended September 2024 = Rm 36.29 million


👉Grand Total 🟰 RM 633.3 million 👍

> Jaks 30 % share in Vietnam Power Plant Joint Venture invested ard RM 600 Million.
( RM 400 million is from the Profit of Construction contract of the Vietnam Power Plant, EPC2.)

Initially PayBack 8 to 9 years ..

Referring to the Grand Total , PayBack period is by 2024 .. ie : from 2021 to 2024 ~~ 4 years ..

👉From Vietnam Power Plant 1200 MW EPCC RM 8.7 Billion started on October 2016 ,
Payback period is 8 years.


按照购电协议，电力售价将随原料价格波动。意味着业务盈利贡献获得保证。Jaks管理层曾透露内部回酬IRR介于12%，PAYBACK PERIOD为8至9年


👉👉👉 Jaks Vietnam JV Power Plant 1200 MW , EPCC RM 8.7 billion is COD on January 2021 with recurring Income for 25 years 👍.

——-

Hoho Konartist sslleee own claimed TA n FA Guru in Yinson … also is the Best Wayang Director ke :

1.) Tunepro 2020 > Actor : VictorYong , Good123 .

2.) Netx 2020 > Actor : VictorYong , Good123 , Ularsawa , Stockraider . Promoter : Conartist Callvin.

3.) Insas 2021 > Actor : Stockraider / Gohku

4.) Hengyuan “ Crack Spread “ at RM 7.00 2022 > Actor : Probability aka VictorYong

5.) SCIB 2024 : Konartist sslleee cum Promoter with TP RM 1.00 by early 2025 … Actor : i3lirker aka Balian blowing min 600 % Profit by early 2025 ..beware …🤣

Hoho TinKosong Group Leader Konartist sslleee .. yr kongang Victor Yong is Yong Kim Foo n Yong Tau Fool 0.03 低B…? 🤣🤣🤣

Hoho enough for tonight…Yong Kim Foo n Yong Tau Fool 0.03 低B…🤣🤣🤣

Hoho what is the Difference between Yong Kim Foo n Yong Tau Fool 0.03 低B…🤣🤣🤣

Post removed.Why?

Post removed.Why?

Jaks Gearing ratio

>> Vietnam Power Plant is a Capital Intensive Project with Value USD 1.87 Billion ( RM 8.7 Billion) .. 
Construction is started on 2016 , 2 unit Power Plant final COD on January 2021 :

Jaks Gearing Ratio :


See Jaks insiders had been monitoring n controlling the Gearing Ratio in a Healthy Level : 


> FYE2015 : 0.80 X



1.) FYE2019 : 0.43 X 





2.) FYE2020 : 0.34 X 





3.) Referred to FY23 , 1 QR ended March 2023 : 0.375 X 





4.) Referred to FY23 , 2QR ended June 2023 : 0.362 X 



5.) Referred to FY23 , 3QR ended September 2023 : 0.352 X


6.) Referred to FY23 , 4QR ended December 2023 : 0.350 X


7.) 1QR ended March 2024 :

Gearing Ratio = 0.293X 


8.) 2QR ended June 2024 :

Gearing Ratio = 0.303X


9.) 3QR ended September 2024 :

Gearing Ratio = 0.298X

Hoho what a TinKosong from TinKosong Group Konartist sslleee … another one is his KonPetHuangbk …🤣

Post removed.Why?

Post removed.Why?

Post removed.Why?

Hoho Thats why Yinson is also thirst for New FPSO order as :

FPSO Anna Nery is contributing ard 50 % , on FPSO segment Revenue where as the other 5 Operating FPSO are contributing 50 % ( ie : illustration > each one contributing 10 % only ) .


But Assets on QR ended July 2024 :

Non current contract asset : RM 11,389 m

Current contract asset : RM 544 m

Total Contract asset = RM 11,933 m


Total Loans n Borrowings = RM 19,580 m


USD Loans n Borrowings interest is 12 % n 13.88 % ( AR FY24 )


Question:

Non current Finance lease receivable = RM 8,164 million

Current Finance lease receivable = RM 165 million

> Total Finance lease receivable = RM 8,329
million

Hoho let’s see FPSO Atlanta First Oil Progress Update …

And see Loans n Borrowings can be Reduced by end of 2025

2 hidden risks :

1.) impact of Currency Exchange in coming QR ended October 2024 ?

2.) Impact on FPSO Anna Nery refinancing , sold equity 11.8 % … Yinson equity is Reduced from 75 % to 63.2 % in coming QR ended January 2025 ( currently FPSO Anna Nery contributing ard 50 % of FPSO segment Revenue…???




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The group, via Yinson Production, has nine floating assets including two en-route for delivery, with a total order book of over US$22 billion (RM94.69 billion) 👉 lasting until 2048.

Of the two vessels, FPSO Atlanta, which is serving client Enauta, is still awaiting go-ahead for first oil, according to news reports in September. That 50,000-bpd vessel arrived in the Atlanta field offshore Brazil in May, and was initially expected to be commissioned in February this year.

Another FPSO, the 120,000-bpd Agogo for client Azule Energy is expected to be completed by 2025 for commissioning by 2026, according to Yinson's investor presentation. 

Jaks Annual Revenue and Net Profit / ( Loss ) :


1.) FYE2020 : RM 259.4 million with Loss ( RM 80.5 Million. )


2.) FYE2021 : RM 109.7 million with Net Profit RM 51.9 million. ( Vietnam Joint Venture Power Plant 1200 MW with EPCC RM 8.7 billion is COD on January 2021 )


3.) FYE 2022 : RM 89.8 million with Net Profit RM 53.5 million.


4.) FYE 2023 : 1st Half Revenue RM 17.47 million with Net Profit RM 33.19 million.


>>👉 1QR is Profit RM 14.08 million , 2QR is Profit RM 19.11 million , 3QR is Rm 7.15 million…4QR is Loss ( 24.8 million )

👉👉 Rm 37.787 million with Net Profit RM 15.527 million..


5.) FYE 2024 :

>> 👉1QR : RM 14.2 million with Net Profit RM 12.4 million.

>> 👉2QR : RM 13.1 million with Net Profit RM 8.4 million.

>>👉3QR : RM 14.1 million with Net Profit RM 22.5 million.


( Note : Vietnam Power Plant Joint venture company is 30 % .. an associate company) .

Hoho Jaks got 2 Cash Cow Projects with Commercial Operating Date : 



1) Vietnam JV Power Plant 1200 MW , EPCC RM 8.7 billion : January 2021 with BOT 25 years contract recurring Income.



2) Local Solar LSS4 Project 50 MW in Penang ( asset owner of the Solar farm , included Freehold land ) : is COD on 21 August 2023 with 25 years TNB PPA ( increased from 21 years ) recurring Income.


Jaks QR ended September 2024 :

Cash n Cash Equivalents:

Deposits placed with licensed Banks = 12,079,000

Cash n Bank balances = 23,818,000

Bank Overdrafts = ( 5,891,000 )

Sum = 30,006,000

Less :
Deposits held as security values = ( 12,079,000 )

Bank balance held as security values = ( 5,585,000 )

Debt service reserves account = ( 8,364,000 )

Balance = 3,978,000

Hoho and I hope Johnchew123 is Not yr aka id ..

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Posted by Johnchew5 > 15 minutes ago | Report Abuse

Hoho Felix Bon pls post the right facts n figures.. TQ ..

Post removed.Why?

Post removed.Why?

Hoho Victor Yong in Tunepro n Netx ( share consolidation 25 into 1 ) on 2020 …… Jedi aka Alibaba aka Yong Kim Fool in Lambo , promoting since 2020 until is Delisted on October 2024 … beware …

Hoho worried hidden risks on Yinson QR ended April 2024 n July 2024 :

>QR ended April 2024 , Net Profit RM 203 million- RM 236 million ( increased of Loans n Borrowings) = - RM 33 million.

>> QR ended July 2024 , Net Profit RM 203 million- RM 3,025 million ( increased of Loans n borrowings) = - RM 2,822 million.😱



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Yinson Loans n Borrowings:


3.) QR ended July 2024

RM 19,580 million


👉Compared Q to Q : is increased by RM 3,025 million.



2.) QR ended April 2024

RM 16,555 million.


👉Compared Q to Q : is increased by RM 236 million.


1.) QR ended January 2024

RM 16,319 million.