John,

Have a read on the agm minutes…some doubts have been answered regarding the debt/accounting standard
https://www.insage.com.my/Upload/Docs/YINSON/Yinson%20-%2031st%20AGM%20Minutes.pdf#view=Full

Also, investment risks are there or eve4ywhere for sure. The questions to ask is whether those Yinson built FPSO are real in nature or did the power plant up for running?

If you got so many doubts over here, suggested yourself to stay away from Yinson and move on…

John,

FPSO Atlanta will be first oil very soon…

https://brazilenergyinsight.com/2024/11/01/onesubsea-completes-pump-installation-at-brazils-offshore-field-in-anticipation-of-fpsos-first-oil/

John,

Stocks you wish you had bought in September 1998

https://theedgemalaysia.com/node/729393

Another read again.
1. Matter of when you buy(excellent companies at fair price, Charlie Munger)
2. Buy what you understand and hold over period of time(from Peter Lynch)
3. Be patient (WB + Munger).

Sorry, throwing some books again over the chat...

Never a lazy balance sheet for Yinson

https://theedgemalaysia.com/node/717398

Have a read, Sir John.

Look at the bright side, it is almost imminent that FPSO Atlanta will be first oil by end of this year(just a matter of time).
Things should be more interesting:
1. How many buses/powerplants they want to build in the next 5 years?
2. With all the FCF, how they can reduce their moutain debts?
3. ......


All those questions will be answer starting 2 years from now....needs to be patient. no point hunting on Atlanta..look at the bigger picture...Mr. Lim will bring you to destination(road of weatlth)...haha..

Sir John,

This is updated as of yesterday by Brava Energia(Previously Enauta):

II. Atlanta

The Company hereby informs that it has received a letter from ANP scheduling the final inspection of the FPSO Atlanta’s measurement systems (Definitive System) between November 25 and 29, 2024. By the end of November, the Company will conclude the submission of the other conditions responses to ANP for the FPSO Atlanta’ start of operations. It is worth remembering that IBAMA has already issued the operating license for FPSO Atlanta in September. In parallel, the Company will start the decommissioning process of FPSO Petrojarl as of early November 2024.

The Company will keep its shareholders and the market in general informed of any relevant updates on the aforementioned topics, in accordance with the applicable regulations.

https://brazilenergyinsight.com/2024/10/21/brava-energy-update-on-papa-terra-nd-atlanta-fields/

No point arguing on FPSO Atlanta, however, you are not aware whether this is Yinson induced or other parties. We never know what Yinson will take their stance from Sept(Ibama licence approved) till first oil i.e. how they want their standby rate with FPSO Anna Nery.

@Vdhawan, Eni's Baleine Phase 3 is one of them...https://www.upstreamonline.com/exclusive/malaysia-player-set-to-scour-market-for-africa-fpso-topsides-modules/2-1-1666960

@rl68, it is about 35% weightage within my portfolio. Yes, i am from O&G background.
Thanks.

There is surely risk in every investment.

In my humble opinion, it is undeniable that the financial reporting used by Yinson i.e. "operating lease" or "financial lease" model...non-recourse loans and etc. will need to take extra miles to fully comprehend its financial soundness(as quoted, even "an" analyst could not figure it out.

However, we should be cognizant whether the current Yinson achievement is REAL or not:
1. All the FPSO's uptime = They are working fine i.e. 99.7% uptime in respective regions. If anything happened, the newspaper should report it big and sound.
2. All the FPSO deliveries = FPSO Altanta(all anchors done and commissioning is on-going). FPSO MQ(Reaching the field by mid-July and target first oil by end of the year) and FPSO Agogo(70% done, target to sailaway by mid-next year).
1. https://www.offshore-energy.biz/fpso-eating-up-the-miles-to-brazil-while-petrobras-brings-production-start-date-forward/
2. https://www.offshore-energy.biz/brazilian-oil-fields-production-grounds-to-a-halt-but-restart-anticipated-this-month/
3. https://www.upstreamonline.com/exclusive/cosco-ready-to-integrate-and-commission-5-3-billion-africa-fpso-project/2-1-1643093

All the other renewable projects delivered as promised, i.e.
1. Nokh Solar is making profit i.e. 5m.
2. Matarani Project should be commissioned soon.

Note: I might be biased as i had vested in Yinson.

If everything is certain, Yinson wont be worth what is currently right now...

Invest at own risk.

Hey Paul, i vested the company since 2018/9 thus the risk/reward will definitely be different from what you had purchased now or recently. You need to define your "stock to keep for long term" whether it is 1-2years or 3-5 years which i can only see up to 2025(as per management's guide) with regularly monitoring qoq.again my 2cts..perhaps shrobin/gener can tell more..they are "sifu" in GDB...

Also, go and have a look on their on-going project progress(not much construction companies will update regularly with pictures)...https://www.gdbhb.com.my/portfolio

u should benchmark it to what management guided as per AR2020, 1billion revenue by 2025 not looking at the past data. As long as management progressed towards this motto, then GDB should be doing alright. Hopefully, management should be able to guide in the up-coming AGM on the potential tender-book(currently is rm1.3billion)...and we will know where is addressable market coming from...my 2 cents..

Timing the market/stock prices would be one of the exhaustic exercises to be done(which i am very bad) when one needs to be very certain on the odds/all the swing momentum...the focus should be on GDB's management deliveries(one of their motto in 2019 AR) to achieve rm1Billion revenue by 2025 and also what's next level up for GDB beyond 2025...i guessed that Mr. GENER/shrobin had vested the stocks from few years ago low which risks are low compared to those who bought recently....

Hi Mr. Aaron, would you mind to share what's share are you holding now?or 100% cash?thx

Anyone has the news on Aira Residences completion? Completion date is on Christmas's eve.

Thoughts:

1. Think of the rumours(not long ago), sources say that gkent is selling off their water meter business. But, what's now? Are they selling it or making good profit every qoq?
2. For cancellation or termination, it is worth to look at the exit clause and might be interested to see what compensation gkent is able to get out of it(based on its 5.5billion contract).

4+% of progress had been registered so far, would everybody be happy to change everything from start(with new partner). If not saying not possible, perhaps at this point, the "unnamed sources" is not happy with gkent for sure..lolx

Gents, please find the key takeaways from 7th AGM just now:
- No cancellation for KK Hyatt project. In fact, Sunhill Venture Berhad requested GDB to expedite the project faster.
- GDB in progress of re-negotiation on all on-going project completion dates due to 3 months impact of MCO.
- GDB hinted that Q1 result will be out by 19th June 20 after boarding meeting.
- Current tender book is RM2.8billion[ GDBSB:RM2.4B and GGSB:RM0.4B]
- There is no plan for the moment for oversea venture and infrastructure segment. For Infrastructure, segment, they are still looking for suitable key personnel to lead this division.
- GDB strived to achieve RM1B revenue by 2025 and still maintained as management KPI.
- No change in dividend policy and cash flow still remained strong at the moment.
- One of investor asked for rm150m revenue for Q1 result. However, GDB still keep mum on this and saying that they will try on it.
- Mr. Alex mentioned that all the expenses used for COVID-19 are relatively minimal and will not impact its financials and Mr. Cheah added that some testing is borne by contractor itself.

That's all we got.

surprised to see..added another prominent investor in the cart..Mr. Brahmal….

Hi Ashmira, understood rule 101 of investing is to earn money. However, the reason that i would like to find out more on this digitized company on their 4 streams of business and how do that streams of business could contribute for the years to come or any red flags fundamentally.
It will always be best company to have transparent on guidelines or shed some light on their management goals i.e. to achieve 1B goal in coming years and we will verify them on each quarter to see if they can deliver as such and if yes, this is management or company we are looking to long with.
Honest speaking, i am struggling to find more info on this company business for me to understand more and yet i am still learning. That's why looking forward to AGM to listen on how management guided the years to come.
Thanks, ashmira.

Hi ashmira, just curious, we should not be bothered with share price movement if you have faith in the company growth and business if we understood the company and business well enough.
Why don't we focus on the fiscal growth of 4 streams of their business:

- CRM deployment in the major banks(already 3900units, how much more they can sell to major banks in the next 2-3 years)
- Mobile kiosk in LRT/MRTs, those machines are already commonly found and installed by other company or its competitors(how Opensys can outstand those products compared to competitor markets)
- Again, buySolar, BOTF and SmartCIT are those yet to be materialized except buysolar. As guided by Rakuten, these software will contribute 30% earning over 3-5 years. Based on 11m earning(2019AR), 3.3m earning over 5 years and is it sound figure that Opensys can achieve so far or still in doubt.


Another notable point, Rakuten had advised that there will be record earning for FY20/21, why there is no intention for Opensys to apply for main board transfer, to attract more fund manager's appetite, perhaps yet another milestone to achieve.

hi super_newbie, could you please re-send? As i could not access to the file, much appreciated.

Hi dollarbollarbill, appreciated that you can share with us Rakuten report for my knowledge.
Thanks.

Hi GuShen2020, thanks for your in-sights on the numbers of CRM(s) and those figures are coming out from ABM and whatever stated by your goodself is all your assumption, no offence. If this reality, i think that opensys management should put those numbers(as per your assumption) as their management target to tell investors in the longer run or their visionary plans. But, we don't see that in the AR or QR citing.

Hi Zhangliang, yes i do have bought some to give an opportunity to attend AGM to learn more. As i mentioned earlier, opensys is a small fit company which required more "growth" to move itself to next level. Are we as investors really happy with opensys with only 100-150m market capital, without growing further while maintaining its order/services to their cleints. If the management guided that way, it is quite a disappointing fact to start with as it need to grow. As mentioned to Mr. Gushen2020, we need to have more management insight on the earning/growth visibility at least coming 2 years, where will opensys be?

I did not expect miracle to happened over short span of timing. As an investor, why dont we be curious about on how those new tech developed by opensys, at least some platform to discuss or more insight. This will allow us to more confidence, no?
With reasons you stated, we need not to be politically correct in the above and just need to understand on how company address to all your stated concerns or issues. And we all understood on all the challanges with COVID-19/Political changes/etc, however, it was guided by management that they are NOT affected so far.

Anyway, thanks GuShen2020/Zhangliang for your sharing

Hi Mr. Shrobin..sure...will do...looking forward from your advice..

Of course, I am, just a tiny one. I am eager to attend the AGM to learn more. I am another young chaps who started to learn on investing and forgive me to ask some many queries as i just want to understand more on the company and its competitor.

I don't think that we should be comparing this apple (GDB) to other apple (KAB) and applies Mr. Ian Yoong's factor into it and it will makes things complicated as we go along the way, each prominent investor will have their own selection criteria/investing philosophy, the key is to make money.

Just to touch base on KAB, there is a few big names in the shareholding if you notice, go and check who is Koh Kin Lip, Chan Wei Fui and others. Moreover, top 30 shareholders held 95% of NOSH and 5% floated outside. How much GDB float is, also he had 10x shares in KAB than in GDB(in 2018AR).

Hi Zhangliang, thanks for your insight/view.

No doubt that Opensys proclaimed to be market leader in Malaysia. However, the question will be how this company can go beyond i.e. regional expansion. What will opensys go in the longer run with this CRM, another 20% market share to go? That already hits ceiling and what's next?

Yes, it looks quite undervalued that 11m PAT(based on 2019 AR), with only 109m market capital and 4m divvy. For this micro-cap company, with 5yrs(accumulated, 2015-19), total PAT stood at 41m and dividend payout is 17m and top shareholder listing is made up of their top management, will they be contended with the dividend plus bonus and salary. What dont they re-deploy most of their earning into capex for develop more earning-driven vehicle

For the big company, you mentioned that there are not competitive and poor service. Appreciated that you can share those lesson learnt as most of their management is coming out from NCR corp from older days. Would be much interested to know how opensys can be more competitive than those big players in the game and they are pioneers. For opensys, they still need to rely on OKI Japan to bank on the technologies and others application needed.

For all the software development i.e. BOTF, it had been existed in AR for 2 years more and there is no further concrete news on it. How much $$$ had been invested and what's opensys going to get out from it.
As for buy-Solar, as i said earlier, there is no transparent news or discussion on it and what's rate acceptance by end user, we dont know. If not, it is just a another display.

I am still very new in the investing circle, very tiny stake in it. However, I would like to understand more on the company profile and business before making next move.

Thanks great sifu.

Gents, looking on the opensys AR and would like to understand more on the company and appreciated that sifu here can enlighten here.
Based on the AR, Opensys proclaimed to have installed 3900units and dominated 80% market share for as its OKI partnered CRM. However, it is already 80% market and how much opensys to gain more on this market share and there is no news on opensys to expand regionally? Also, company like NCR, Diebold Nixdorf and other big names and they are not doing so well out there.
Apart from their main business, there is few interesting takeaways from Opensys AR:
1. Branch of The Future(BOTF) (Does anyone have any good info? It seems to futuristic to me and read some news a few big names in US/UK had done but not sure how much Asian countries can receive this futurustic concept.
2. Digital Kiosk or White Label Kiosk - Anybody got good info on how many machines or kiosk deployed, how friendly are their kiosk and how much re-curring income they can achieve, not to forget what's market share they can achieve.
3. Buy-solar - They just launched last year and however, I could not locate any forum or discussion on great platform to discuss on this and how much acceptance of this software to end user or consumer. Also, there is no clues in the latest QR citing either on this.
4.Smart CIT - Any good info to be shared. They said that it is on trial mode with one of customers

Perhaps the above should be addressed during AGM. However, appreciated that the great sifus here can englight abit.

Hi Mr. Shrobin, thanks for sharing on the "simplywall". However, we should be looking at how potential GDB's growth to achieve 1B revenue by 2025(5 years from now) as guided by the management and we will see how they can deliver their promise based on each quarter.
Also, in longer run, we are hoping that GDB could be another Sunway or Kerjaya.
For Mr. Ian, yes no doubt he is great investor/promoter but he had no stakes in GDB anymore as per top 30 list. Perhaps you might be one of 30 chairs.
Mr. Ian had built up stakes in INTA BINA(top 30), will it be another signal? When coming to choices, between INTA BINA and GDB, you know better than I do.

See if it turns green today...lol

looks like panic selling.....not sure what is reason behind...

Well, young chap maybe targeted some toys to buy with that $$$.
As long as the elder Mr Cheah and Mr Alex is not selling...

perhaps making ways for EPF on 5% threshold...same thing happened to kerjaya...

haha..i don't really hope to see .46...lol

For Menara Hap Seng 3, looking at the site progress, they are still working on the lobby/one open area floor with ceiling works, seeing people perform inspection floor by floor. It might be ahead of schedule(maybe few days) or just in time management. Anyway, still confident...

LiimInvest, out aredi yesterday,

Reference is made to the Company’s announcement on 3 September 2019 whereby the Company had on even date entered into a Letter of Intent (“LOI”) with Lee Chin Fong (“LCF”), Lee Beng Wai (“LBW”), Hsu Feng Chih (“HFC”) and Foodict with the intention to enter into negotiation in relation to the Proposed Transactions. Following thereto, M&A Securities Sdn Bhd, on behalf of the Board of Directors of BCM (“Board”) wishes to announce that the Company had on 29 November 2019 entered into the following agreements:-

- a subscription agreement with Foodict, and LCF and LBW (collectively as “Warrantors”) for the proposed subscription of 133,333 new ordinary shares in Foodict representing 25% enlarged equity interest in Foodict (“Subscription Shares”), for a total cash consideration of RM1,499,996.25 (“Subscription Consideration”) (“Subscription Agreement”);

- a share purchase agreement with LCF, LBW and HFC (collectively, the “Vendors”) for the proposed acquisition of an aggregate of 138,667 existing ordinary shares in Foodict (“Sale Shares”) representing 26% enlarged equity interest in Foodict, for a total cash consideration of RM1,560,003.75 (“Purchase Consideration”) (“SPA”);

- a shareholders agreement with the Vendors and Foodict to set out the responsibilities and obligations of the Company and the Vendors (collectively “Parties”) as the shareholders of Foodict and to record the terms and conditions governing the structure and organisation of Foodict and the Parties’ respective rights and obligations in relation thereto (“SHA”), which shall be effective upon completion of the Subscription Agreement; and

- a profit guarantee agreement with LCF and LBW (collectively the “Guarantors”) whereby the Guarantors will jointly and severally guarantee to BCM that the aggregate audited profit after tax attributable to the shareholders of Foodict for the two (2) years commencing from the date of completion of the Subscription Agreement and ending 24 months thereafter, shall not be less than the sum of RM1,600,000.00 (“Profit Guarantee”) (“Profit Guarantee Agreement”)

To be honest, with much hatred, this counter is highly manipulated with "shark" playing up and down. However, as long as the company is not rubbish, should keep them...let the "shark" be pushing hands once result proven.

buy more then...

Gents, pls read it carefully ..it is changing from LOI to LOA..it was same being announced before