All companies pay their dues.

Pirates think they are above the law.


[ The Sabah government has collected RM808 million in sales tax on petroleum products during the first six months of this year, the state assembly was told today.

Sabah finance minister II Masidi Manjun said this was 73% of the total sales tax revenue of RM1.1 billion expected to be collected this year.

He said the total collected from the implementation of the sales tax on April 1, 2020 until June 30 this year amounted to RM2.45 billion.

https://www.freemalaysiatoday.com/category/nation/2022/07/19/sabah-rakes-in-rm808mil-from-sales-tax-on-petroleum-products/
]

---

MoneyMakers

Walao where got Hib steal..think that Labuan pipeline never get gov approval meh aiyoyo

P/s: Thinking like schoolboy..too naive/closed mind

7 minutes ago

Perhaps TSH should run a pipeline from Indonesia to Malaysia to avoid paying export levy and duty.

Like how Hibiscus is doing.

Run a pipeline from Sabah's territorial waters and deliver oil to Labuan terminal, and therefore declare own self that taxes do not have to be paid to the Sabah government.

p.s. Hibiscus, that's call stealing.

https://www.hibiscuspetroleum.com/wp-content/uploads/2020/07/malaysia-north-sabah-psc.jpg

.

In the best of time, TSH's performance appears to be lacklustre.

UPlant's operating profit ratio was 36.83% whereas TSH operating profit ratio is only 20.8%

It's puzzling that payments for Indonesia export levy and duty more than doubled to over RM100 millions, especially since the percentage of sales to Indonesian customers was 64% compared to 39.8% in the previous quarter. [Presumably, export levy and duty will be applicable only for foreign customers. And export levy and duty ought to have declined due to a reduction in the percentage of export customers]

RM Millions
_______________________ 30.06.2022 __ 31.03.2022
Revenue _______________ 424.413 ____ 337.349
Indonesia customers __ 271.812 ____ 134.133
Cost of sales ___________ 258.775 ____ 198.578
Gross Profit ___________ 165.638 _____ 138.771
Operating profit _______ 88.295 ______ 64.863


____________________________________ 30.06.2022 ______ 31.03.2022
Average CPO selling price ________ 5,076 RM/MT ___ 4,779 RM/MT
FFB Production ___________________ 239,398 MT _____ 197,947 MT
Indonesia Export Levy and Duty __ RM100.455M ___ RM45.935M

.

Besides the name, there is not much 'technology' in the services offerings.

The company basically does metal fabrication and machining.

Given the low rates of machine utilization and 15.83% space utilization in warehouse 2, it's puzzling on why they are building warehouse 3 at this juncture.


Q2 2022 Revenue
Sheet metal fabrication: ____________ RM6.683M
CNC machining: ____________________ RM9.766M
Mechanical assembly: _______________ RM1.023M
Automated equipment solutions: ___ RM3.427M
Total: ________________________________ RM20.899M


Machinery and equipment Overall production capacity utilization rate 64.57%

Manufacturing Plant 2
Space capacity: 360,000 sq ft
Actual space utilization: 57,000 sq ft
Space utilization rate: 15.83%

Page 10
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=219655&name=EA_FR_ATTACHMENTS

Page 87 and page 88
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=217442&name=EA_DS_ATTACHMENTS

.

Calvin,

But, you went on to ask people to sell Pekat and buy KPower.

KPower is down 54% since your recommendation. And it will stay down.

Pekat is a legit solar PV company that will continue to grow 30% per annum.


FYI, 25th Sept 2021 closing price:
KPOWER.....0.69
PEKAT......0.735

Today 19th August 2021 price:
KPOWER....0.315
PEKAT....0.535



---

### calvintaneng KPOWER, SOLARVEST, SAMAIDEN & PEKAT: Compare & Contrast their Prices, Earnings & Price to Book Value, Calvin Tan

https://klse.i3investor.com/blogs/www.eaglevisioninvest.com/2021-09-25...

ANYONE GOT PEKAT PLEASE SWITCH TO KPOWER
YOU WILL BE GLAD YOU DID
25/09/2021 2:36 PM

.

Calvin,

In July 2021, I have already informed you that KPower's financials are fake.


Repost from KPower thread
https://klse.i3investor.com/web/forum/forum-thread/800001368?p=211

-------

Posted by PSAi3alert > 2021-07-30 19:23 | Report Abuse

calvintaneng,

Perhaps too much working from home is causing your contacts to have temporary memory loss.

Both Mustakim Bin Mat Nun and Amirul Afif Bin Abd Aziz are indirect shareholders of One Hydro Power Sdn Bhd, which in turn is a wholly-owned subsidiary of OHP Ventures Sdn Bhd. In fact Mustakim Bin Mat Nun Amirul Afif Bin Abd Aziz, and Zainal Azwadi Zainal Abidin are also directors of OHP Group.

I will now answer those questions that have been posed.

When KPowernet accepted the award by Zhenghong for the Nam Taep 1,2,3 Hydropower Co Ltd ("NT") project valued at USD40.7M in June 2020, the same project that was awarded by NT to Serba, valued at USD66.2M, in July 2018 ought to have been terminated.

You just cannot sell the Brooklyn Bridge twice. Furthermore, Mustakim, Amirul and Zainal ought to know since all three of them are directors of the OHP Group and OHP Group has 35.7% stake in NT.

The impacts for Serba are now:

--->>> Serba will need to write-off RM20.99M from its receivables for the hydro power projects in Laos (FYE 2019: RM12.326M, 15months ended 31-03-2021: RM8.664M)

--->>> Serba will need to write-off RM3.36M (USD800,000) for it's 34.3% stake in NT because Zhenghong is now allegedly the owner for the hydro power plants (the 49% stake in OHP Ventures was purchased form OHPVSB in Oct 2018. OHP Ventures has 70% share in NT)

With the NT and Serba confusion out of the way, we will now try to understand the awards by Zhenghong Building Road and Bridge Construction Co Ltd.

KPowernet announced 2 awards by Zhenghong:
- USD40.7M in June 2020 (3x5 megawatt Nam Taep 1 and 3x5MW Nam Taep 2 hydropower project)
- USD15.88M in Feb 2020 (8 megawatt Nam Samoy hydropower project)

Zhenghong Building Road and Bridge Construction Co Ltd is a company registered by Zheng FuJun in Laos. Zheng Fujun has also registered 3 other companies in Laos - Lao Fanya Marble-Granite Rock Co. Ltd, Lao Fanya Agriculture Investments Co. Ltd and Lao-China Yuan Sheng Real Estate Development Co. Ltd.

None of those companies registered by Zheng FuJun has a power purchasing agreement with Électricité du Laos. Without a PPA in place, it will be impossible to obtain fundings.

Even with a signed PPA, funding will be challenging because of a situation of over-capacity of hydropower plants and debt levels that have resulted in the downgrading of the country's rating to CCC.

Of the 90 hydropower plants that have been planned, 56 plants are in operation with a total capacity of 8,768 Megawatts. Thailand and Yunnan Province in China have had an electricity surplus in recent years and have reduced their demand from Laos.

For completeness sake, I have looked at the satellite images of the Nam Taep river at Sam Tai District, Houaphanh province; and Nam Lik river, Vientiane Province. Unfortunately, there is no evidence of hydropower plant construction activities in those areas.

I do have a couple of additional questions....


.

Calvin,

TSH is in a weak position. You are going around to bad-mouth companies in strong positions.

You cannot strengthen the weak by weakening the strong.

If you are really close to the management of TSH, work with them to address the issues that are plaguing it's share price performance.

p.s. There has been a number resignations by principal officers.
Currently, there is no CFO. Can the tea lady sign off on accounts?


---

4 Aug 2022
Tan Boon Siong resigned as CFO

20 Jun 2022
Tan Aik Yong resigned as Executive Director

1 Jun 2022
Tan Boon Siong appointed as CFO

1 June 2022
Michael Wong Chung Hau resigned as CFO

,

I've clicked on the transactions tab (could not find a button) and used Serba as the search filter.

The following results were displayed:

17 30-Sep-2021 Sell SERBADK -10,150,000 0.325 9,931.32 +3,288,818.68
8 21-Sep-2021 Buy SERBADK +300,000 0.325 385.63 -97,885.63
2 12-Aug-2021 Buy SERBADK +500,000 0.415 812.13 -208,312.13

A block of 10,150,000 Serba shares were sold on the 30th of Sep 2021.

The cost per share for the block is 0.68

When was the block of shares acquired?

Why are the comm & stamp duty so high? (RM9,931.32)

---

Philip ( buy what you understand)

There is a simple button up there called transactions. Just click on it, and set it to display last 500 transactions and you will see my entire transaction list since 2019. After you finish looking, then you can comment or decide. If you start commenting without even looking at what I buy, when I sell and my explanations in the comments of WHY I sold, then please don't even bother commenting at all. Otherwise you lot are just embarrassing yourself asking questions without even being the least interested in any form of answer.

1 hour ago

One year since a review on Serba's 45 metric tonne per day Chlorine Skid Mounted Chlor-Alkali Plant in Tanzania .... it's still brown earth.

The Msengi car wash appears to be new.


https://www.google.com/maps/place/6%C2%B043'24.1%22S+38%C2%B045'14.6%22E/@-6.7233611,38.7540556,783m/data=!3m2!1e3!4b1!4m5!3m4!1s0x0:0x6fa98a4a162d6e85!8m2!3d-6.7233611!4d38.7540556


.

BLAST FROM THE PAST

As mentioned last year, a huge proportion of fake projects and receivables will need to be written off.

Write-offs have started and will continue.

---

Serba accumulated revenue by country 25/5/2016 – 31/3/2021

Malaysia _______ 5888.584M ... Petronas Chemical, Methanol, Carigali, Gas
Qatar __________ 4601.051M ...Process Dynamics, Pavilion, Halul
UAE ___________ 3380.402M ... New Thunder, Sum tech, Block 7, FDDS
Bahrain ________ 1756.658M ... Lata, Regno
Saudi __________ 1201.493M ... Midad
Turkmenistan ____ 721.542M ... Turkmengas
Indonesia _______ 613.514M ... Pilar
Oman __________ 580.59M ... Revenue Int
Kuwait __________ 224.697M
Tanzania _______ 194.809M ..... Sufini
India ___________ 60.028M ...... Captive, Analog
Uzbekistan ______ 40.33M ...... Hazarasp
UK ____________ 28.323M
Laos ___________ 20.99M ...... Nam Taep
Sri Lanka _______ 16.7M
Kazakhstan _____ 1.789M


Process Dynamics: Domain hosted with Penang-based Exabytes
Pavillion: Cleaning company run by Indian nationals, no licence for Oil n Gas
Halul: Domain hosted with Penang-based Exabytes
New Thunder: Hardware trading by Indian national, domain hosted by Exabytes
Block 7: Registered by Karim on 25/03/2020
FDDS: Registered by Karim on 13/01/2020
Lata: Hosted with Penang-based Yeahhost
Regno: Same shareholder as Lata
Midad: Company went off radar
Pilar: Supply Super Ultima (power quality) services does not make sense at all
Revenue Int: Cleaning company run by Indian nationals, no licence for Oil n Gas
Sufini: No evidence of plant in satellite images, JV partner Junaco insolvent, JV company licence expired
Captive: Registered by Serba's directors
Analog: Sell Analog's products and services back to Analog
Hazarasp: Another Chlor-Alkali Plant like in Sufini Tanzania
Nam Taep: Self awarded project terminated

.

rr88,

Can you confirm your final answer?:

A) "Everything would go half price from here"

B) "Come back same time next year, sell at 1.62/1.63"

Anyway, your total lost in TG = 5,000,000 x 0.0401 (0.8377 -0.8778)= RM200,500


---

Posted by rr88 > 3 hours ago | Report Abuse

Added short term punt ok la.
If long term, you better run la.

It moved in a sideways channel for 2 months which lòoked like bottoming out, but it broke down outside this channel.

If you are not scared, you better be. Market knows ahead what you dont know. It could very well be first this crash, and next year come worldwide recession. Everything would go half price from here.

Posted by rr88 > 3 hours ago
SOLD ALL 0.8377 lost 3.8 cents a piece because... harta fails to rebound. I dont like the way harta behaving.

Posted by rr88 > 21 hours ago
Went to add money.
Bought 20,000 lots at 0.785.

Posted by rr88 > 3 days ago
Bought 10,000 lots 0.865.
Investing is not that difficult. When people say its...

Posted by rr88 > 5 days ago
My tg cost 0.977 {Mentioned holding of 2M shares)
Now 0.935
My balls not yet sweating..

Posted by rr88 > 5 days ago
Keep. Come back same time next year, sell at 1.62/1.63.


.

rr88,

Don't mean to be pedantic.

You lost 4.01 cents a piece and not 3.8 cents a piece.

Your total lost = 5,000,000 x 0.0401 = RM200,500

Had you wait for your target price of RM1.62 next year, your profit can possibly be:
= 5,000,000 x (1.62-0.8778) = RM3,711,000


Calculations:
2,000,000 x 0.977 = RM1,954,000
1,000,000 x 0.865 = RM865,000
2,000,000 x 0.785 = RM1,570,000

Total 5,000,000 shares = RM4,389,000
Average cost = 0.8778

---

Posted by rr88 > 3 hours ago

SOLD ALL 0.8377 lost 3.8 cents a piece because... harta fails to rebound. I dont like the way harta behaving.


Posted by rr88 > 21 hours ago

Went to add money.
Bought 20,000 lots at 0.785.


Posted by rr88 > 3 days ago

Bought 10,000 lots 0.865.
Investing is not that difficult. When people say its...


Posted by rr88 > 5 days ago

My tg cost 0.977 {Mentioned holding of 2M shares)
Now 0.935
My balls not yet sweating..


Posted by rr88 > 5 days ago

Keep. Come back same time next year, sell at 1.62/1.63.

Simple logic: Covid h...

.

Top Glove also has non-glove products.

Top Glove's condom products are branded as Top Feel

Since only Top will feel, PE only 6.

If Bottom got feel also, PE will be 6.9?


https://www.topglove.com/non-glove-product/condom-smooth

---

Posted by UlarSawa > 1 hour ago | Report Abuse

Haiyoh Intco only cny2288 x0.66 bil baru rm1.5bil revenue leh. Taikor last QR pun lebih kurang sama revenue rm1.46bil leh. Dont forget Intco business not all in gloves also mah. Still belum tau coming QR we fight again lah. Very close lah. Taikor mau get back the Title as World no 1 Dragonhead not only in capacity lah. Revenue pun mau take back lah. Haiyoh. Correct?

Intco has overtaken Top Glove for both revenue and net profit

Blue Sail has reported losses for the past 3 quarters

Average net margins for Intco and Blue Sail has dropped to 0.87% for the latest quarter


---

Intco
(RMB Millions) _____ 31/03/22 ___ 31/12/21 ___ 30/09/21 ___ 30/06/21
Total Revenue ______ 2,288 ________ 2,593 _______ 2,972 ______ 3,940
Gross Profit _________ 402 __________ 1,019 _______ 1,414 ______ 2,777
Net Income _________ 83 ___________ 488 _________ 1,064 ______ 2,143

Blue Sail
(RMB Millions) _____ 31/03/22 ___ 31/12/21 ___ 30/09/21 ___ 30/06/21
Total Revenue _______ 1,298 ______ 1,536 _______ 1,385 ______ 2,021
Gross Profit __________ 176 ________ 253 _________ 341 _______ 994
Net Income __________ -52 _______ -2,263 _______ -23 ________ 1,723

Source:
https://www.investing.com/equities/shandong-intco-medical-income-statement
https://www.investing.com/equities/blue-sail-medical-a-income-statement

.

Isham Jalil holds a Master's degree in political economy and law from Harvard University, an MBA in finance from the Wharton School of Business and a first-class honors Bachelor of Engineering degree from University of Bristol UK


---

Posted by izoklse > 38 minutes ago | Report Abuse

Dialog berkenaan Isu LCS bersama pemimpin NGO - Isham Jalil
https://www.youtube.com/watch?v=JH9ManiBtZ4
Now we see the real story

See_Ku_Ku_Chiau_Research,

You have a blog with i3.

Your last blog posting was on 1st of March 2022.

As of 1st March 2022, TSH's price was RM1.50

In the blog posting, you asserted that TSH's mid-term target is RM2.00

Did you advise your readers that you have sold after the last blog post?
If so, please point out the specific post.

Did you advise your readers to sell when TSH's price reached RM1.89?
If so, please point out the specific post.

Wait. Your mid-term target is RM2.00

Did you at any point change the mid-term target and advise your readers of a new mid-term target?
If so, please point out the specific post.


---

Author: SEE_Research Publish date: 1 March 2022

WAIT for strong rally
VERY SOON

First target ------
RM1.50

Mid term target --
RM2.00

Author: SEE_Research Publish date: 1 March 2022

WAIT for strong rally
VERY SOON

First target ------
RM1.50

Mid term target --
RM2.00


Source: See_Fatt_Research's last blog post on TSH

https://klse.i3investor.com/web/blog/detail/see_research/2022-03-01-story-h1599353693-NOW_SHOWING_THE_TRILOGY_OF_FAST_FURIOUS_A_NEW_BEGINNING_FOR_THIS_SUPER_


.

See_Fatt_Research called for a technical buy on MSC on 28, 29 April 2022 when it was at RM4.55.

Today MSC closed at RM1.97

That's a loss of 56.7%!!!


---

Posted by PSAi3alert > 5 days ago | Report Abuse

See_Fatt_Research

MSC was trading at RM4.55/4.59 on 28, 29 April 2022.

So, your call was to buy at RM4.55 on 28 April 2022 and sell at RM2.45 on 29 July 2022. That's a loss of RM2.10!

Whoever follow you will join Bang_Ball_Research


----
To : PSA fella
From : SEE_RESEARCH as at 5.45 pm., 5 August 2022
1. You , look into yourself , being another nincompoop with your nonsense / rubbish comments;
whereby SEE_RESEARCH called MSC , a technical buy at RM2.10 to RM 2.15 level were on 28, 29 April 2022 for exit at RM 2.45 / after 5.00pm 29 July 2022 _( it is well record in side the TSH forum on the buy calls and with the exit price of RM 2.45 )

Repsol has a market cap of EUR 18 Billion, annual turnover of EUR 50 Billion and net income of EUR 2.5 billion

If those oil fields are so good, do you think they will sell to Hibiscus for a song?

In any case, unexplained expenses will kill any gross profit. The last quarterly administrative expenses were RM147.574M

.

Impact of the sale
Landbank: 13.1% ( 13,214.90 hectares / 100,346.00 hectares)
Planted area: 9.65% ( 3,818.89 hectares / 39,564 hectares )
Profit FYE 2021: 4.89% ( RM9.89M / RM202.013M )
Interest savings: RM18.76 million per annum

Impact of Indonesia export duty and levy
For Q1 2022, TSH paid RM45.935M for Indonesian export duty and levy
Between mid July and end of August 2022, levy is waived.
For Q3 2022, there will be additional profit of RM15M due to waiver of export levy for 1.5 months

Page 23 and page 18
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=217697&name=EA_DS_ATTACHMENTS

Page 2
https://rspo.org/file/acop2015/submissions/tsh%20resources%20berhad-ACOP2015.pdf

.

Don't get your knickers twisted over the conditions precedent legalese. [The waiver condition is there to cater for the scenario whereby the seller is unable to assist in the land conversion and as a result a supplementary agreement, incorporating the waiver, has to be signed.

What is crucial is that money has been received.

"Identified Mangkupadi Land has also been completed on even date following the receipt of the balance disposal consideration in respect of the Identified Mangkupadi Land from the Buyers"


---

Posted by StartOfTheBull > 18 minutes ago | Report Abuse

Fulfilment of all the conditions precedent of the CSPA for the
proposed disposal is 7 (seven) months earlier than expected.

So according to the announcement on 7 June 2022 the estimated date of completion of the proposed disposal should be by end of this month.

As at the LPD when the 07 Jun 2022 circular was issued,
- interest-bearing borrowings = RM872.12 million
- cash and bank balances = RM261.48 million
--->>net borrowings = RM610.64 million

When RM550M is used to reduce borrowings,
- interest-bearing borrowings = RM322.12M (RM872.12M - RM550M)
- cash and bank balances = RM261.48 million
--->>net borrowings = RM60.64 million

The following amount of RM160.94M from the land sale will also end up as cash balance while waiting to be utilized:
RM45.00 million for new planting and replanting of oil palm
RM47.00 million over a 2-year period to partially fund Infrastructure works and capital expenditure
RM68.94 million of the proceeds for working capital purposes

--->> net cash will be RM100.3M (RM160.94M - RM60.64M )

Receivables and payables are not used in calculating net cash or net debt positions.

TSH's receivables are low because TSH-Wilmar pays promptly.

The trade payables is probably around RM30M. The other payables are accruals and deposits for the proposed land sale.

page 205
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=215642&name=EA_DS_ATTACHMENTS


----

Posted by Mikecyc > 28 minutes ago | Report Abuse

Haha is also wandering will be a Net Cash company ??? From latest QR , Total payables is more than Total Receivables …

And - total interest-bearing borrowings amounted to approximately RM872.12 million
- total cash and bank balances of approximately RM261.48 million
- net interest-bearing borrowings amounted to approximately RM610.64 million : How much is reserved for Routine Operation Expenses ? And How much is deposited as Collateral ??

.

The planted area will be reduced by 9.65%.

FFB will be reduced by 8.8%

By inference, the Bulungan land will have lower proportion of matured trees.

In 2021, TSH total FFB production was 918,987 metric tonnes while production from the Bulungan area was 81,235 metric tonnes. So, the reduction in FFB production will be reduced by 8.8% as a result of the sale of the Bulungan land.

Page 22
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=217697&name=EA_DS_ATTACHMENTS

-----

Posted by Mikecyc > 38 minutes ago

Haha just wandering on how much matured trees plantation is left after is sold Sabah 2 pc of Plantations n the Indonesia one :


(iii) Risk of scarcity of landbank
The Proposed Disposal will result in a reduction of approximately 9.65% to the Group’s total planted landbank after taking into consideration the Sale Land’s total planted area measuring 3,818.89 hectares against the Group’s total planted area as at the LPD of 39,564 hectares.

.

As at the LPD when the 07 Jun 2022 circular was issued, TSH's
- total interest-bearing borrowings amounted to approximately RM872.12 million
- total cash and bank balances of approximately RM261.48 million
- net interest-bearing borrowings amounted to approximately RM610.64 million

When RM550 million - part of the proceeds from the RM731 million Bulungan land sale - is used to pay down the interest-bearing borrowings, there will be an interest cost savings of approximately RM18.76 million per annum.

More importantly, TSH's net interest bearing borrowings will be just RM60.64 million ( RM610.64M - RM550M ) when RM550 million of borrowings reduced.

--->>> TSH just need to have a profit exceeding RM61 million from its Q2 2022 palm oil business to become a net cash company


https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=217697&name=EA_DS_ATTACHMENTS

.

The CPs (condition precedents) need to be 'fulfilled or waived'.

Since the Mangkupadi land parcels have all been successfully converted from HGU to HGB, the CPs have been fulfilled. The question on waiver has become nugatory.


---

Hak Guna Bangunan ("HGB") no. 00003 (changed from HGB no. 00001);
HGB no. 00004 (changed from HGB no. 00002);
HGB no. 01 (converted from Hak Guna Usaha ("HGU") no. 37); and
HGB no. 02 (converted from HGU no. 38).

.

Calvin,

You ought to have the answer since you're close to them.

Anyway, the amount received for the Mangkupadi land should be RM494M+

Balance of RM193.9M will come from the Tanah Kuning land when completed


Received for Mangkupadi
KIPI Land and the Converted Land : RM493,710,042 - RM29,919,400 (deposit)
KIPI Uncertified Land: RM30,651,102

To be Received for Tanah Kuning
KIKI Land : RM201,430,171 - RM12,822,600 (deposit)
KIKI Uncertified Land: RM5,295,520



-----

calvintaneng

How much money did they received ?

CASH FLOWING LIKE NIAGARA FALLS!

21 minutes ago

The Mangkupadi land is 71.02% of the Bulungan land.

Conditions precedent fulfilled for the Mangkupadi land.

Balance disposal consideration received for the Mangkupadi land.

Bulungan land sale (hectares)

_________________________ Tanah Kuning _____ Mangkupadi _____ Total
Total planted area _____ 2,169.30 ___________ 1,649.59 _________ 3,818.89
Unplanted area ________ 1,072.98 ___________ 7,691.28 _________ 8,764.26
Unplantable area ______ 508.08 _____________ 12.00 ____________ 520.08
Nursery ________________ 27.88 ______________ 7.00 ______________ 34.88
Estate building site ____ 13.97 ______________ 4.97 ______________ 18.94
Roads __________________ 30.71 ______________ 13.24 ____________ 43.95
Drains __________________ 6.35 _______________ 7.55 _____________ 13.90
Total area ______________ 3,829.27 __________ 9,385.63 __________ 13,214.90

.

PROPOSED DISPOSAL BY PT BULUNGAN CITRA AGRO PERSADA ("BCAP"), A 90%-OWNED SUBSIDIARY OF TSH, OF BCAPS OIL PALM PLANTATION, TOGETHER WITH THE UNCERTIFIED LAND ADJOINING THE PLANTATION, ALL SITUATED AT NORTH KALIMANTAN, INDONESIA ("SALE LAND") FOR A TOTAL DISPOSAL CONSIDERATION OF RP2,428.86 BILLION (EQUIVALENT TO APPROXIMATELY RM731.09 MILLION) TO BE SATISFIED ENTIRELY BY CASH ("PROPOSED DISPOSAL")

Unless otherwise defined, all terms used in this announcement shall have the same meanings as defined in the announcements dated 10 December 2021, 7 February 2022, 8 March 2022, 4 April 2022, 7 June 2022 and 29 June 2022 in relation to the Proposed Disposal.


On behalf of the Board of Directors of TSH, RHB Investment Bank wishes to announce that all the conditions precedent in relation to the CSPA in respect of the following part of the Sale Land ("Identified Mangkupadi Land") have been fulfilled or waived as at 8 August 2022:


Hak Guna Bangunan ("HGB") no. 00003 (changed from HGB no. 00001);
HGB no. 00004 (changed from HGB no. 00002);
HGB no. 01 (converted from Hak Guna Usaha ("HGU") no. 37); and
HGB no. 02 (converted from HGU no. 38).


In addition, we wish to announce that the disposal for the Identified Mangkupadi Land has also been completed on even date following the receipt of the balance disposal consideration in respect of the Identified Mangkupadi Land from the Buyers.


The announcement is dated 9 August 2022.


https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3282012

.

Johnzhang,

BNS is a subsidiary of BHIC, which in turn is 65% owned by Boustead Holdings. The financial impact, if any, will be limited to Boustead's 65% ownership in BHIC.

However, the project will continue. If you read between the lines on what Hishammuddin said, you'll know that the project will continue and the reasons why.


https://www.thestar.com.my/news/nation/2022/08/05/lcs-project-to-continue-as-it-is-important-to-navy-says-hisham

"I have informed the Cabinet and PAC about the timeline to complete the ships.

"What is important now is our journey in the next six months after getting the green light from the Cabinet to continue the project," he told a press conference after opening the Armed Forces polyclinic at Kem Penrissen here on Friday (Aug 5).

On Opposition leader Datuk Seri Anwar Ibrahim's call for phase six of the LCS project to be cancelled, Hishammuddin said it was made for political mileage.

He said cancelling the project would go against the PAC's recommendations as well as the Pakatan Harapan administration's decision to continue it when the coalition was in power.

"If you look at the PAC report and its recommendations, none of them says the project should be cancelled.

"In addition, over 400 vendors are depending on the project to continue, 90% of whom are involved with Armed Forces veterans.

"If (Anwar) wants to help the veterans, cancelling the project is not the way to do it," Hishammuddin said.


Posted by Johnzhang > 5 hours ago | Report Abuse

The 6 LCS multi billion fiasco is being play up again. $6 bil paid but no ship delivered. Don’t know what’s the implication to Bstead holdings who owned BNS ?

Berlin,

Thanks. Read his original post. Yes, another one of those Aesop's Fables with incessant didactic points.


Posted by Berlin > 31 minutes ago | Report Abuse

PSA; The claim Calvin made was that free shares were given to a hardworking worker who held it till retirement. Not directors but some poor sod who worked for decades in the company.

See_Fatt_Research

MSC was trading at RM4.55/4.59 on 28, 29 April 2022.

So, your call was to buy at RM4.55 on 28 April 2022 and sell at RM2.45 on 29 July 2022. That's a loss of RM2.10!

Whoever follow you will join Bang_Ball_Research


----
To : PSA fella
From : SEE_RESEARCH as at 5.45 pm., 5 August 2022
1. You , look into yourself , being another nincompoop with your nonsense / rubbish comments;
whereby SEE_RESEARCH called MSC , a technical buy at RM2.10 to RM 2.15 level were on 28, 29 April 2022 for exit at RM 2.45 / after 5.00pm 29 July 2022 _( it is well record in side the TSH forum on the buy calls and with the exit price of RM 2.45 )

.

Berlin,

Absence of evidence is not evidence of absence.

Just because you have not seen something does not imply that it does not exist.

Have a look at Ucrest's quarterly results for 31st May 2021. There was a charge of RM1.955M to the P&L. Effectively the company paid for the ESOS amount that the directors were supposed to pay. Jaks Resources also paid for Ang Lam Poah's free shares.

The directors will need to pay taxes on the pecuniary benefits for receiving free shares. They will be invited to yum cha at LHDN's office if they don't.


Ucrest 31 May 2021 quarterly results
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id...


Posted by Berlin > 12 minutes ago | Report Abuse

Vinsanity returns again. I have never heard of a public listed company that gave free shares to employees. Stock options, yes, but you need to shell out good money to exercise it before expiry. Pray tell us the name of this wonderful company from fantasy land - surely not Disney?

Team TSH
TSH (9059): +7.55% ( + .08 / 1.06)

Team See_Fatt_Research / See_Up_Skirt_Research
MSC (5916): -11.64% ( - 0.27 / 2.32 )


.

TSH-Wilmar Sdn Bhd

Shareholders:
TSH Resources Berhad: ________ 17,000,000
Wilmar Edible Oils Sdn Bhd: ___ 17,000,000

Financial Year End 31-12-2021

Share Capital: ________ 34,000,000.00
Retained Earnings: ___ 129,527,537.00

Revenue: _____________ 2,279,612.928.00
Profit before tax: _____ 85,042,694.00
Profit after tax: _______ 65,281,765.00
Net dividend: ________ -40,000,000.00


.

SEE_Research,

Apologies. Saw that post, that is being reproduced below.

However, that phrase "9 years see can go" is equivocal. I do not see words like 'will, shall, ought, etc'.

In addition, those numbers are not projections given by officers of the company.

If you have any information that any officer of TSH has contravened LR regulations, please point them out.

I will report to the Securities Commission.

If not, please do not post information that serves no purpose.

Comprende?


p.s.

I need to take leave of absence from i3 for some time. Need to write up a complaint against Perak Transit.


p.p.s. I have reported on Ucrest.

They have just written off RM23.18M from their receivables and intangible assets from their latest quarterly results.

I am not satisfied yet.

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=219527&name=EA_FR_ATTACHMENTS

---- Complaints on Ucrest ----

On the 15th of April 2021, Mr Eg Kah Yee, the CEO of Ucrest held an investor briefing using Facebook Live. During the briefing, Mr Eg has projected Ucrest's share price will rise to a minimum of RM2.61 and a maximum of RM196 per share.

On the 20th of April 2021, Mr Eg Kah Yee, held another briefing with Rakuten Trade that was broadcast using Facebook live. This briefing was conducted in Mandarin. Similar forecast of a minimum of RM2.61 and a maximum of RM196 per share for Ucrest share price was again presented.


----

Posted by calvintaneng > 2022-04-22 12:33 | Report Abuse

Tesla has the oomph

so is Tshla

Tsh if buy Rm1.84 keep 9 years see can go Rm10? Rm30? or Rm100?

.

I do not understand your question.

At what point did Calvin emphatically state that TSH can reach 10.0 or 150.00 ?

Pray point to the post.

Straight to point please.

No Hollywood drama and grandma stories!


----

Posted by SEE_Research > 23 minutes ago | Report Abuse

To : Prof Kevin , the maverick Past time Pastor To : side actors
PSA fella As at 11.55 pm., 2 August 2022
Milk fella

1. Obviously on Kossan issue , can clearly noted the buy and selling for JJPTR was done at his optimum risk and reward basis _ to protect his profit __ any fool can note, except two of you. Or rather including another __ the Prof Kevin __in which Prof Kevin had even urged the I 3 community of investors , not excluding you
( PSA fella , Milk fella ) to buy big and chase at 8 April 2022 with his post / include for your quick review , should both of you pretend Prof Kevin was misquoted __ and any of you among you two can help us to answer esp . PSA fella can explain with your simple logic
Prof target price , whether it is attainable

.

SEE_Fatt_Research

MSC (5916)
Today's closing 2.24:
- down 10.4% from yesterday's high of 2.5
- down 57.7% from 22-04-2022 high of 5.3

Many have crashed and burnt.

Are you still promoting MSC?


----

Posted by supersinginvestor > 2022-03-15 10:16 (Price 4.2/sh)

Accumulating..yummy tin


Posted by OTB > 2022-02-17 21:10 (Price 3.9/sh)

Dear PureBull,

You are very good. Learn a lot from sifu.

Thank you.


Posted by PureBULL ... > 2022-02-17 16:50 (Price 3.9/sh)

How do U like
MSC, a multi bagger stock yet to be MIANG by all the funds n players on klse...

.

To answer the question, one will need to write like him.

Here goes:


--- begin

{

Haha, Mikecyc rike JKG Land loh.

The stock cod is 6769. You know lah. 67 and 69. Ha ha. Double ham sap mah.

Mikecyc always go massage and ham sap.

Eddie Tan of JKG Land also frequent massage parlors. Even before Boston U, some say during his Anglo Chinese days in Singapore, every day masat masat . Until he got chronic back pain.

The other director, Lee Yu Jin, is the brother-in-law of Patric Lim Hong Koon. Patric Lim, another ham sap guy, is wanted by SC and has been on the run since 1999 ( https://www.wsj.com/articles/SB924546444246447959 ).

}

--- end

VTrade

Memang nak dengar disney mikey talk on market

2 hours ago
.

JJPTR,

Your post of "1.28 now is quite cheap" is unequivocal.

The second post gives a subliminal promise that 3.68 is a possibility.

As mentioned, Kossan's profit will drop further due to overcapacity, competition from mega factories in China, depressed ASP, escalating labor costs, rising rubber and energy costs, etc.

There's no competitive advantage for the glove industry in Malaysia.

Even rubber is imported.

[ In 2020, Malaysia imported USD1.41B in rubber, becoming the 2nd largest importer of rubber in the world.

Malaysia imports Rubber primarily from: Thailand ($716M), Cote d'Ivoire ($410M), Philippines ($96.2M), Burma ($41.1M), and Ghana ($28.7M). ]

Kossan's market cap is currently at RM3,249 Million . It's annual profits will drop to lower than RM100M.

TSH's market cap is currently at RM1,409 Million. TSH's annual profits will be easily more than RM200M for the next couple of years.

So which is cheaper?



----

KOSSAN Posted by JJPTR > 4 days ago | Report Abuse

OF the top 4 glove, my favorite is KOSSAN.
1.28 now is quite cheap..


KOSSAN Posted by JJPTR > 4 days ago | Report Abuse

my last entry was 3.55. Manage to let go at 3.68

.

JJPTR (aka 'Jiejiu Pu Tong Ren'),

Why did you just post recently that you bought Kossan at 3.55 and sold at 3.68? Kossan's price was around 3.68 in April 2021.

Today's closing of 1.27 is 65.5% down from 3.68 (or 87% down from highest point of 9.75) !!!

Why did you not advise followers to sell at the time that you sold?

Aren't you suppose to save the common people, the Pu Tong Ren?

Why?

Why?

Or is your name just an acronym for 'Jom Jom Poke The Rat'?

Also, why are you posting that Kossan at 1.28 'now is quite cheap'?

Kossan's price at 03-01-2012 was only 0.28 . It's net profit for the year then, FY 2012 was RM104.772M

Kossan's latest quarterly net profit is now down to RM46.495M

Kossan's profit will drop further due to overcapacity, competition from mega factories in China, depressed ASP, rising costs, etc.

In fact, China glove manufacturers are now showing losses.

Best case for Kossan is to have annual profit of around RM100M. In that case, Kossan will go back to 0.28

Worse, Kossan will soon run into losses.

Under that Kossan Pengsan case, the share price will drop lower than 0.28

So, Jiejiu Pu Tong Ren, why are you telling the common people to buy Kossan at 1.28?

Why.......

Why.....


----


KOSSAN Posted by JJPTR > 4 days ago | Report Abuse

OF the top 4 glove, my favorite is KOSSAN.
1.28 now is quite cheap..


KOSSAN Posted by JJPTR > 4 days ago | Report Abuse

my last entry was 3.55. Manage to let go at 3.68



---- https://www.investing.com/equities/blue-sail-medical-a-financial-summary ---

Blue Sail Medical


Period Ending _______ 30-06-21 ____ 30-09-21 ____ 31-12-21 ____ 31-03-22
Revenue (RMB M) _____ 2,021.3 _____ 1,384.78 ____ 1535.83 _____ 1,297.93
Net Profit (RMB M) __ 1,723.3 _____ -22.91 _____ -2,263.06 ____ -52.45




.

SSLee,

It takes only 200k+ shares to be in the list of top 30 shareholders of PetronM.

Had Leno sold 18,101,200 shares in Insas-WC at 0.50/sh, the amount will buy 1,881,621 shares of PetronM at 4.81/sh now. That's top 5 of PetronM shareholders.

.

The raison d'etre to start and run a company is to make profit. Not collect credit for tax losses.

For the latest financial period, Maksima Timur lost RM4.007M, 10.8% of revenue. Their share capital is only RM300k.

Rezeki Megajaya lost RM4.413M, 63.7% of revenue.
Their share capital is only RM100k and now has negative shareholders equity of RM2.56M.

Are you suggesting that it's better for a company to lose RM4M and have a tax loss credit of RM1M to be used in subsequent years?

Wouldn't it be better to make RM4M and pay RM1M of taxes? You'll keep the RM3M profit after tax now.

I do not understand what you mean by:
"...park most of the profit at Perak Transit where they have capital allowance to offset against income tax..."

Maksima Timur and Rezeki Megajaya are PTrans' major customers?

What do you mean by parking of profits?

There are laws against such practices:

Securities Act:
84. False trading and market rigging transaction
85. Stock market manipulations
86. False or misleading statements, etc.
89. Insider trading

---

Maksima Timur Sdn Bhd
Auditor: CWC & Company (AF0873)

FYE (RM Millions)________ 30-09-2020 _________ 30-09-2021
Revenue _________________ 29.595 _____________ 37.125
PBT _____________________ -1.881 _____________ -3.605
PAT _____________________ -1.314 _____________ -4.007
Non-Current Assets ______ 22.37 _____________ 8.368
Current Assets ___________ 104.446 ___________ 122.332
Non-Current Liabilities ___ 2.552 _____________ 1.175
Current Liabilites ________ 118.804 ____________ 128.071
Share Capital ____________ 0.300 _____________ 0.300
Retained Earnings _______ 5.16 ______________ 1.153


Rezeki Megajaya Sdn Bhd
Auditor: CWC & Company (AF0873)

FYE (RM Millions)______ 30-09-2021
Revenue _____________ 6.925
PBT _________________ -4.267
PAT _________________ -4.413
Non-Current Assets _____ 0.388
Current Assets _________ 8.513
Non-Current Liabilities ___
Current Liabilites _______ 11.460
Share Capital __________ 0.100
Retained Earnings ______ -2.66



----
Posted by dragon328 > 1 day ago | Report Abuse

One reason I could think of why Maksima Timue incurred a small loss is because they wanted to park most of the profit at Perak Transit where they have capital allowance to offset against income tax. Had they park big profit at Maksima Timur, this company would incur a full 25% income tax rate. That's my view, to be confirmed with management.

As mentioned, a batting average of one-third will be Titanic sort of disastrous performance.

So 7 (out of 21.6) projects that have proceeded to construction is minimally expected. Unfortunately, not a single has been named.

Want to know what the project facilitation really is about?

It's detailed in page 87 of PTrans IPO prospectus.

It just need 2 executive directors and 2 terminal staffs to spend 2 hours per day, over 2 days our of 5 working days with secretive unnamed customers. Nothing heavy. Just show them around the terminal and have tête-à-tête sessions.

The man-hours charged out per year for the Project Facilitation Fee is calculated as:
4 (2 directors and 2 terminal staffs) x 2 x 2 x 52 = 832 man-hours = 104 man-days

RM39M was billed for PFF in 2021.

The billed rate will be RM46,875 per man-hour (RM39M / 832 hours) or RM375,000 per man-day (RM39M / 104 days)

If the 2 terminal staffs are not critical to the process, the billed rate for the 2 executive directors would have been RM93,750 per man-hour or RM750,000 per man-day.

A top partner in McKinsey does not command that sort of billing rate. Neither does a top Queen's Counsel.

Maybe an ex US President.


----

Page 87 of IPO prospectus
PFF cost calculation

The cost in deriving the GP and GP margin of Project Facilitation Fee is in relation to the payroll cost and terminal related expenses (i.e. mainly depreciation). The basis of apportioning payroll cost and terminal related expenses due to Project Facilitation Fee, is arrived based on the director's estimation of:
a) the time apportionment with a average of 2 hours per day over 8 working hours of the two (2) Executive Directors and two (2) terminal staffs for two (2) out of five (5) office working days; and
b) number of hours where Maksima Timur is allowed to access Terminal AmanJaya's equipment, utilities and facilities, e.g. from 6.00 a.m. to 7.00 p.m. on a daily basis


----


Posted by dragon328 > 1 day ago

It is rather reasonable for Perak Transit / Maksima Timur to charge a project facilitation fee of 2% of project GDV. They could charge higher if a terminal project achieves final investment decision and proceeds with construction so that they can provide project management services throughout the construction phase.

You want Ptrans PFF revenue for the period between 1st Oct to 30th Sep of the following year, so as to be able to compare against Maksima Timur's financial year end?

Sure, here it is:

Ptrans PFF Revenue
1-10-2020 to 30-9-2021 = RM52.6M ( RM39M + RM13.6M )
1-10-2019 to 30-9-2020 = RM33.95M ( RM25.95M + RM8M )

Maksima Timur
FYE (RM Millions)________ 30-09-2020 _________ 30-09-2021
Revenue _________________ 29.595 _____________ 37.125

PTrans PFF revenue
FYE (RM Millions)________ 30-09-2020 _________ 30-09-2021
Revenue _________________ 33.95 _____________ 52.6

--->>> For the 30th September 2020 year end, Maksima Timur would have billed some secretive state authorities an amount of RM29.595M. PTrans, in turn, would have billed Maksima Timur an amount of RM33.95M for the project facilitation services.

--->>> For the 30th September 2021 year end, Maksima Timur would have billed some secretive state authorities an amount of RM37.125M. PTrans, in turn, would have billed Maksima Timur an amount of RM52.6M for the project facilitation services.

--->>> In those 2 financial periods, Maksima Timur would have lost RM19.83M ( 29.595 - 33.95 + 37.125 -52.6 ) by being the middle man.



---

PTrans Q4 2021 no PFF income
Revenue in the current quarter was lower mainly due to no project facilitation fee
recorded in the current quarter
--->> 9 months of PFF income is RM39M

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=217390&name=EA_FR_ATTACHMENTS


PTrans Q3 2020 9-months PFF was RM25.95M
"...higher project facilitation fee recorded in the current FPE 30 September 2020 of RM25.95 million as compared to RM21.35 million in the corresponding 9-months FPE 30 September 2019."
--->>> Q4 2020 PFF income is RM13.6M (Full year 39.55M - 9 months 25.95M)

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=211731&name=EA_FR_ATTACHMENTS


PTrans Q3 2019 9-months PFF was RM21.35M
...higher project facilitation fee recorded in the current FPE 30 September 2019 of RM21.35 million as compared to RM14.70 million in the corresponding 9-months FPE 30 September 2018
--->>> Q4 2019 PFF income is RM8M (29.35M-21.35M)

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=207217&name=EA_FR_ATTACHMENTS


----

Posted by dragon328 > 1 day ago

@PSAi3alert, thank you for highlighting the financials of Maksima Timur.

While it may be strange for Maksima Timur to incur a loss in 2021, please note that the financial year end of Maksimar Timur is 30 Sept while for Perak Transit the financial year end is 31 Dec. There could be a timing difference in the recognition of revenue and costs for these 2 companies in relation to the project facilitation fees.

dragon328,

Between 2016 and 2021, PTrans recorded a total of RM161.971M for project facilitation fees (PFF), implying a total GDV of RM6478.84M.

At an average RM300M ( RM200m - 400m number came from you ), that means 21.6 bus terminal projects were initiated between 2016 and 2021. And for each bus terminal project, state authorities will engage and pay Maksima Timur for project facilitation. Maksima Timur will, in turn, engage and pay PTrans an average of RM7.5M for each project.

Out of the 21.6 projects, how many has achieved Final Investment Decision (FID) whereby the project owners/locations can be revealed?

About one third of the 2,224 passengers and crew aboard Titanic survived.

Surely, the success rate for PTrans will be better than one third. After all, RM161.971M is a lot of money collected for project facilitation fees.

Ok ok. Let's take one third of 21.6 projects to have successfully reached FID and the names can be revealed.

Pray name the owners and locations of the 7 projects ( one third of 21.6 ).

----

Posted by dragon328 > 2 days ago | Report Abuse

As for the huge amount of RM39m p.a. in FY2020-2021 and implied GDV of over RM1.0 billion, the management clarified that these were from a number of projects in different states, each with a GDV of RM200m - 400m. Due to confidentiality, the management cannot disclose some of these projects and their owners/locations yet until the project finally achieves Final Investment Decision (FID) and the project owner announces it publicly.

MarcusBioTech,

The relationship between Malakoff and Tenaga; Gas Malaysia and Petronas; and Telekom Malaysia with the celcos are not comparable. The customer names and products/services are known and well defined.

In ARBB's case, the names of the 4 customers have not been made known.

ARBB does not have any filed patent or intellectual property in the ERP or IOT space.

There is not a single software company in the world that has a 1% salaries as a percentage of revenue ratio. Not in the Milky Way galaxy. Not in the entire Universe.

p.s. Complaints on financial irregularities should be filed to the Securities Commission, not Bursa.

p.p.s The response that you allegedly receive from Bursa is not how they ought to respond.

Disclosure: I am of the opinion that the business, customers, revenue and financials of ARBB are all fictitious .

.

ARBB's 2020 annual report shows buzzwords such as Cloud CoSec, Pacio Accounting, Point of Sales,production, inventory management, business intelligence, human resources, Internet of Things (IOT) - (warehouse management, smart building, smart home, smart water management), purchasing, customer relationship management, sales & marketing, big data analytics, etc.

But revenue is only from 2 segments - ERP and IOT

Revenue of RM219.454M was reported for the year 2020 and 93% of the sales was from 4 customers. The 4 customers were not named but the average sales per customer will be RM51M

Salaries and wages was only RM2.308M or 1.05% of sales

31st March 2022 trade receivables is RM197.104M

Domain name was created in 2019 and is hosted with free hosting provider - Wix.com


--->>> Average sales of RM51M per customer is a lot of money for ERP or IOT. Surely there will be press releases on the purchase and what exactly was purchased.

--->>> 1.05% salaries cost as a percent of sales is a unicorn. It's just impossible

--->>> Trade receivables as at 31st March 2022 is RM197.104M

--->>> Frequent changes in auditors is a big red-flag

--->>> For a company that claims to have hundreds of millions of sales, why is their own domain hosted for free with Wix.com?

--->>> Software companies have frequent patches and updates in their site. ARBB does not have any such links for patches and updates.

--->>> Whoever buys this supposedly IOT company is an ID IOT


-------

FYE 2020
Sales of goods: RM8.487M
Rendering of information technology services: RM210.967M
Total revenue: RM219.454M

ERP Segment sales: RM150.541M
IOT Segment Sales: RM68.913M

Salaries, wages and allowances: RM2.308M

Page 118
Major customers
There are four (4) (2019: four (4)) major customers contributing to 93% (2019: 98%) of the Group’s revenue.

-------

Name: ARBBERHAD.COM

Nameservers:
NS4.WIXDNS.NET
NS5.WIXDNS.NET

Dates
Registry Expiration: 2023-03-11 08:41:10 UTC
Updated: 2022-03-14 02:09:03 UTC
Created: 2019-03-11 08:41:10 UTC

-------

31 March 2021
BDO PLT resigned as auditors
The company could not reach a consensus on the proposed increase of the audit fees covering the financial statements for the 18 months ending 30 June 2022 of the Company and some of its subsidiaries.
1 April 2021
SBY Partners PLT appointed as auditors

15 September 2021
Deloitte PLT resigned as Auditors
17 September 2021
BDO PLT appointed as auditors

-------

Sources:

Q1 2022 Financial results
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=218449&name=EA_FR_ATTACHMENTS

2020 Annual report
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=206611&name=EA_DS_ATTACHMENTS

Change of auditors
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3247943
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3193298

.

The 2.5% of GDV value for PFF fees has been detailed in PTrans IPO prospectus

There is only one customer for the PFF income

PTrans PFF reported revenue from Maksima Timur has exceeded Maksima Timur's revenue!!!



PTrans Revenue (RM Millions) _______ 2020 _____ 2021
Project facilitation fee ______________ 39.550 _____ 39.000

Maksima Timur
FYE (RM Millions)________ 30-09-2020 _________ 30-09-2021
Revenue _________________ 29.595 _____________ 37.125
PBT _____________________ -1.881 _____________ -3.605
PAT _____________________ -1.314 _____________ -4.007
Current Liabilites ________ 118.804 ____________ 128.071


--------
Excerpts from PTrans prospectus


During PTrans IPO in 2016, the following information was provided:

Projects _____________________ Est GDV RM (M) ____ PFF RM (M) _____%
Terminal Kampar, Perak __________ 128.33 __________ 3.22 _________ 2.5%
Terminal Kemaman, Terrengganu ___ 64.15 _________ 1.60 _________ 2.5%
Terminal Kota Bahru, Kelantan _____ 194.00 __________ 4.85 _________ 2.5%


Maksima Timur represents all of PTrans' Project Facilitation Fee Income and includes acting as Project Manager (for the construction of new integrated land transportation terminal complexes) to prospective parties. Services by PTrans to Maksima Timur include rental of Terminal AmanJaya's equipment, utilities and facilities, preparing preliminary concept paper for proposed project, discussion and sharing of knowledge relating to design, planning and construction of terminal and attending all meetings organised by Maksima Timur with SPAD and other governmental departments.

Page 71 IPO Prospectus
Premised on our services above, in the FYE2014, FYE 2015 and the FPE 2016 our Group derives revenue in the form of the Project Facilitation Fee from one (1) customer, namely, Maksima Timur

.

https://www.theedgemarkets.com/article/perak-transit-seeks-new-revenue-streams

[Perak Transit executive director Datuk Cheong Peak Sooi highlights that since September last year, the group has seen new revenue contributions from two logistics tenants — B&L and UFO — at both Terminal Meru Raya and Kampar Putra Sentral. “We expect to see a new revenue contribution of around RM2.5 million to RM3 million every month,” he estimates.]

B&L & UFO courier are new setups and they are merely agents for local courier companies.


Web domain: bandlexpressampangipoh.com
Created: 2021-06-27 06:50:52 UTC

Office:
https://lh3.googleusercontent.com/p/AF1QipNY-G82Pq2ecFJ88OMonYj1ZpCvENKL2yYU1LeA=w960-h960-n-o-v1


UFO Express

Office:
https://www.facebook.com/photo/?fbid=251806123801478&set=ecnf.100069576281471

.

PTrans major customers for PFF, rental, advertisement and bus charter are:
Maksima Timur represents - all of PTrans' Project Facilitation Fee Income
Rezeki Megajaya - PTrans' major customer for rental of A&P spaces and bus charter
Century Edge Group - undertakes the rental of promotional spaces

Those 3 companies would have contributed RM96 million to PTrans revenue in 2021. However, searches on those 3 companies show that their own combined reported revenue is only about RM60 million.

Maksima Timur and Rezeki Megajaya have both reported losses of over RM4 million each.

Maksima Timur's current liabilites have swelled to RM128 millions.


Maksima Timur Sdn Bhd
Auditor: CWC & Company (AF0873)

FYE (RM Millions)________ 30-09-2020 _________ 30-09-2021
Revenue _________________ 29.595 _____________ 37.125
PBT _____________________ -1.881 _____________ -3.605
PAT _____________________ -1.314 _____________ -4.007
Non-Current Assets ______ 22.37 _____________ 8.368
Current Assets ___________ 104.446 ___________ 122.332
Non-Current Liabilities ___ 2.552 _____________ 1.175
Current Liabilites ________ 118.804 ____________ 128.071
Share Capital ____________ 0.300 _____________ 0.300
Retained Earnings _______ 5.16 ______________ 1.153


Rezeki Megajaya Sdn Bhd
Auditor: CWC & Company (AF0873)

FYE (RM Millions)______ 30-09-2021
Revenue _____________ 6.925
PBT _________________ -4.267
PAT _________________ -4.413
Non-Current Assets _____ 0.388
Current Assets _________ 8.513
Non-Current Liabilities ___
Current Liabilites _______ 11.460
Share Capital __________ 0.100
Retained Earnings ______ -2.66


Century Edge Group Sdn Bhd
Auditor: LKH & Co (AF002089)

FYE (RM Millions)______ 31-12-2020
Revenue _____________ 17.997
PBT _________________ 0.0244
PAT _________________ 0.0200
Non-Current Assets _____ 0.0039
Current Assets _________ 8.853
Non-Current Liabilities ___ 0.0006
Current Liabilites _______ 8.765
Share Capital __________ 0.01
Retained Earnings ______ 0.08


.

dragon328,

Here are the hard facts, bus fare income was only RM1.352M in 2021, about 1% of total revenue for the year.

Between 2019 and 2021:
Bus fare income plunged by 87.6%
Entrance fee fell 81.6%
Car park fee dropped by 84.3%
Rental income increased by 92.52%
Project facilitation fee increased by 32.88%
Net margin for 2021 was a record high of 38%


PTrans RM (Millions)
__________________________________ 2019 ______ 2020 _____ 2021
Bus fare income ________________ 10.902 _____ 3.964 _____ 1.352
Govt support fund _______________ 14.307 _____ 13.109 ____ 14.397
Bus charter and advertising _____ 8.369 ______ 8.436 _____ 8.424
Rental Income __________________ 25.537 ____ 30.857 _____ 49.165
Project facilitation fee ___________ 29.350 ____ 39.550 _____ 39.000
Entrance fee ____________________ 0.0816 ____ 0.0333 _____ 0.0150
Car park fee _____________________ 0.495 ______ 0.156 ______ 0.0773
Profit sharing terminal mgmt ___ 0.373 _____ 0.357 ______ 0.218


Between 2015 and 2021, RM171.64M was recognized as PFF income. At 2.5% of GDV, RM6,865.6 millions worth of bus terminals would have have been built. Locations of those terminals have never been accounted for.

PTrans RM (Millions)

Year _____ PFF ____ Rental ____ Advert ____ Net Profit , margin
2015 ____ 9.669 ____ NA _______ NA ______ 19.188 , 26%
2016 ____ 13.914 ___ NA _______ NA ______ 21.724 , 24%
2017 ____ 18.457 ___ 21.738 ____ 7.347 ____ 29.015 , 27%
2018 ____ 21.700 ___ 23.327 ____ 7.347_____ 36.030 , 32%
2019 ____ 29.350 ___ 25.537 ____ 8.369 _____ 40.009 , 32%
2020 ____ 39.550 ___ 30.857 ____ 8.436 _____ 42.046 , 35%
2021 ____ 39.000 ___ 49.165 ____ 8.424 _____ 53.225 , 38%

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