new comers please go read DK many facts and figures articles to understand Jaks prospect better. there are too much noises here full with speculation that tend to misled.

short term traders selling pressure has to exhaust before the price can hike.

sslee dont take text out of context.

I repeat again the crucial points of looking at facts, not endless speculation of what the bod will do in the future.

Example for Jaks case, the RI benefit lots of existing shareholders.
Property development business exited according to 2019 agm statement.
Power Plant unit 1 2020 completion according to 2019 agm statement.
These are the facts.

Which existing shareholders that fully subscribe to the RI dont benefit from the average lower cost per share?

Dont know how to subscribe RI then go learn, nothing free.

LTIP is an old story approved many years ago, not something new.

sslee please talk facts, I know u bitter of Jaks bod.
Many company with good bod and owner but some of these investment become value trap for shareholders because the owner do not care of price performance.
Some company bod are controversial, the owner carried out corporate exercise to benefit themselves as shareholders which also benefit retail shareholders.
KLSE has been like that for decades.

To speculate the bod future behavior is not sensible since no one can predict ones future behavior, I doubt anyone can even accurately predict ones neighbors future behavior.

Example for Jaks case, the RI benefit lots of existing shareholders.
Property development business exited according to 2019 agm statement.
Power Plant unit 1 2020 completion according to 2019 agm statement.
These are the facts.

Hope no offence taken, I respect you on the consistent pursue of listed company corporate governance.

I dont agree DK effort of writing fact and figure articles are easy works, these articles has lots of information, require deep understanding of various valuation method and competitor performance of power sectors. This take many hours of hardworks.

While speculation of bod future behavior is futile exercise.

seem those sold off before ex right or didnt subscribe right become very bitter and repeating the broken records of speculations.
What does these people gain from these?
Become annoyance to those that subscribe right and benefit?
superiority complex that think himself very smart not subscribe to right even the facts show the contrary ?
hope that the bad mouth speculation can bring down the price to prove himself smarter than the rest?
What is the purpose of forum discussion if without facts and pure speculation?
Is this not tiring that the forum users attack each other instead of facts based discussion?

this debunk all the false speculations.
1) exit property development, 2) complete unit 1 end 2020 which the bod mentioned in 2019 agm all happen accordingly.
u can dislike the bod or management, what mentioned and promised in 2019 agm all fulfilled.
These are the actual facts.

What is the concerns of LTIP? Since when Alp selling his shares?

When given LTIP he has to pay tax, no running away from tax office.
How he benefit from large shareholding if he dont sell his shares when he has to pay tax?
The higher the Jaks price the higher the tax.
Will declare dividend from power plant profit a way to direct benefit shareholders and also him?

Sometimes this type of common senses question will be better to understand the situation than mere speculation.

Be logical, those new comers please go read many of DK articles that talk about fact and figures.

Many has doubt of Alp credibility due to various corporate exercise and the lack of willingness to communicate.
Put that aside, is difficult to speculate what a person will behave.

Take things at face value, 2019 AGM the BOD make few commitment:
1) Complete Pacific Star project by end 2020
2) Exit from property development business once Pacific Star project complete
3) Complete power plant on time.

Power plant completion is CPECC credit, while the property development which is most shareholders main concerns had concluded.

Share investment is about looking forward.
Whatever bitter experience is past tense, let look forward on the power plant completion and the potential benefit to Jaks.

finally someone that talk logic not speculation of whether the management behave.

Nepo, why u think the director cheated u?

Sslee, thanks for the sharing the communication. Let the keyboard warriors know they will be checked.

The recovery of crude palm oil production in Sabah will benefit Suria ports operation.
http://bepi.mpob.gov.my/index.php/en/production/production-2020/produc...
There are some disruption of palm oil production during MCO, however the production todate is not much difference from last year amount, while the average selling price is higher which mean there are demand.

Selamat Hari Malaysia to all.

OTB, hold on to principle is rare honour nowsadays.
There lot of other that talk a lots because they are keyboard warriors, they think people do not know who they are.

Poic is Palm Oil Industrial Cluster (POIC).
The current Poic is new 28++ acres development of palm oil processing industries with port facilities.

Suria Capital has 4 main business segments, one of them is port operations which operate under subsidiaries Sabah Ports Sdn Bhd.
SPSB main revenue is from 7 ports and 1 oil terminal.
One of SPSB ports Lahad Datu Port is serving existing developed palm oil industries.

Poic Lahad Datu ports facilities is meant to support industries under the new Poic development while SPSB Lahad Datu ports facilities is serving existing Lahad Datu developed palm oil industries.

These ports are not meant to compete with each other.

Suria Capital major shareholder is Warisan Harta Sabah (Sabah State government investment arm) while POIC is setup by Sabah state government to attract investment to Sabah.

They are different and not conflicting.

usa is sizable country with broad domestic market, some sectors boom while other dont. Those hospitality business take a beating, while essential products, housing, technological product etc booming.

usa sub sale or suburban house sales demand strong due to pandemic.
https://www.marketwatch.com/story/americans-are-eyeing-homes-in-the-suburbs-as-pent-up-demand-hits-housing-market-2020-06-17
https://tradingeconomics.com/united-states/new-home-sales

work from home mode cause more willing to spend on home and furniture.

I do not think the management has any credibility issue, their reports for the past 2 years has been consistent.

thanks.

Sslee, seem to make more sense to ask the fund use for the feasibility studies. Thanks for the clarification.

Sslee, can you please ask the progress of fund utilization of last RI and what auditor works done to verify the utilization.

seem like the pandemic has affect on lots of company, salutica profit will take more time to recover.
sold some earlier when rebound, still hold some due to the company prospect for the next 1 to 2 years.

Thanks for taking the lead.

sslee, is the letter send?

With interest rate at record low in many countries, bank borrowing is a better option for Jaks to take.
Last agm Alp mentions the forecast profit of power plant is 100mil while the LD of property business should stop once they exit the business 2020.
The original RI meant to raise minimum 130mil while the revised RI 200mil. This amount should not be difficult if Jaks credit rating is good.

Please add me thanks.

DK66 thanks for another article with facts and figures.

DK66 thanks for another good write.

Salutica and many other stocks with good balance sheets and competitive business model has drop to attractive price for long term investors consideration.
Short term still many macro issues, long term 1 to 2 years company performance will matter more than current market condition.

This is not a recommendation to purchase or sell.

The domestic properties business is minimal effect to the company with the soon completion of pacific star.
With so much macroeconomic issues, USD will be stronger against RM for some times.
Jaks profit growth FY2020 onward will be amazing.

This is not a trader stock for short term, this stock is for medium to long term.
If one is easily affected by IB reports, then be ready to be pull by the nose.
IBs issue short term prospect to encourage trading to the benefit of IBs.

the share price is recovering from 0.3 to current 0.9~ 1.0 when the company is reporting - eps.
The market seem to anticipate the company returning to profit thus the share price growth.
The company is on profit recovering path and possible profit growth that would surpass the previous peak profit.
What share price will then be when the company go to profit growth mode.

This is not a recommendation to purchase or sale.

OTB, DK66 thanks for the factual articles, lots of fact and figure less emotional.

If there is supply chain disruption then the effect is applicable to almost all manufacturers.
Consumer electronics global supply chain is much linked with china no matter the final product is manufacture from which country.
Salute will not be spared.
This is not a trader stock for short term, this stock is for medium to long term.

I still think my earning estimate is too conservative.

Estimate profit 1.05 x 20 + 3.68 x 2 = 28.36 millions for 2020 Q2 ~ Q4 + 2021 Q1.

These estimate do not consider other profit from other products.

I am confident Salutica is on profit recoveries path for 2020 and 2021.
The recent check on online review, the headsets seem to continue receiving good review.

The volume purchase likely to pick up, if there are new product launch within the next 3 to 6 months (usually US consumer electronics will launch product before or during summer) then profit growth is almost certain.

These are estimate not recommendation to buy or sales.

The action taken is straight forward sold mother share to obtain cash to convert warrant to mother share thus resulting owning more shares. This reflect confident of the company future.

6500 hours is the government guarantee mechanism used to calculate for power sales post both unit 2 operational, whether the actual power output meet this number or not the government will pay this "minimum" amount. During AGM the project manager confirm this.
Actual power sales can be higher if the plant more efficient or there are more demand.

Most IBs work on short term horizon.
Personally from my own experience IB reports sometime reference for short term while most of the time not worth the reference.
Technological company prospects has to be view from 5 years horizon or more, the next 2 years salutica should be able back to recover profit phase and I think will surpass their previous peak profit of 24 millions just because of current wireless and wired headphones and mouse sales.
Beyond that the new customer could potential provide the profit growth, however this has to be monitor from their progress within 2 or 3 years.
Hearable devices are the next frontier which is difference type of product from simple current wireless headphones.
Salutica still not proven able to gain niche market of health product.
From their quarters reports, the management has secure few new customers and start works of new product mix which should be good to the company revenue growth.

This is opinion only, not a recommendation to purchase or sale of stock.

China state owned construction company are competent and competitive around the world, those that work alongside china contractor will understand how efficient these company are.

Those keyboard warrior that attack the credibility of china contractor either based on their personal agenda or due to prolong western media indoctrination will continue with the illusion and miss out the reality and truth. This deter the person from reaping the benefit.

The Hai Duong power plant is set out to be successful when this is BRI critical project and CPECC assigned to built the power plant.

Jaks domestic issues are short term hiccup, while the power plant is solid cash earner that will materialize.

I brought Jaks with average price of 1.7 and still waiting for the power plant to materialized.

DK66 contribute the most to this counter with personal studies and quality blogs.

His quality posting make my decision to wait for power plant to materialized much easier, sincerely thanks DK66.

Continue the good works.

@DK66

Power grid management is planned yearly with quarter review and many consideration.
Hai Dong is only one of the many producers and there are many consumption forecast to manage,
If the power grid tie in is not plan for the year, highly likely that year even though electricity seller ready power grid owner will not allow tie in.
The registration of tie in to grid usually done one year or earlier.
Unit 1 seem to be in the 2020 plan not Unit 2.
I try search again, however if you can find otherwise please advice.

ya, power plant is simple. processing plant more things to check.

From the photos, there are only 1 photo with 1 stage of scaffold, no crane, no skylift mean the plant construction almost complete.
Commissioning realistic to complete from 3 to 6 months.

Unit 1 already in 2020 power grid contingent so if no hiccup electrical selling should be in 2020,
while Unit 2 not likely 2020 if not in power grid plan.

Whether Unit 2 can sell to the grid will depend on how project owner talk with grid owner.

@probability you are from power plant line?

@sslee is not a supporter of Jaks, most time negative comments.
However respect the logical assessment with facts and figure.

sources : https://halshs.archives-ouvertes.fr/halshs-02263898v2/document

Page 4 and 5 show that Hai Duong Unit 1 seem to be contingent 2020.

"Particularly, there were important works energized such as: Turn Branch of 220kV West Hanoi substation, 220kV Quang Chau substation, Thanh Cong - Thuong Dinh 110kV underground cable, 110kV transmission line for test power supply to Hai Duong BOT thermal power, etc"


Source:
https://en.evn.com.vn/d6/news/Operation-situation-of-Quarter-I-targets...

March 2019 physical transmission line and power test seem to be completed, substation management of load to grid seem not something not manage.

stock pick for 2020:
Salute 30%
Jaks 30%
APM 20%
Tunepro 10%
KGB 10%

This statement is from latest quarter report " The Group together with its European design partner have set a clear technology roadmap to embark on hearable devices with focus on micro-electronics encapsulation and miniaturisation. It is important that the Group have set this strategic roadmap to ensure continuity in terms of innovative product offerings to the market, highly capable resources and high end processes to successfully adapt to the challenging development of miniaturised products that can incorporate additional components for wider applications."

Thus far the prospects statement in past quarter reports are consistent with the company business development, in this regards the management delivered what they mentioned.

Salutica mentions clear technology roadmap which remind of the history of mobile phone.

The early stage of mobile phone development all companies are competing on the size of the phone, those smaller size and thin deem cool win market share.

Then came along smartphone that consumer demand large screen which make the phone bigger. Current stage company compete on large screen, camera, thin profile with big battery, the demand of size going toward thin dimension with minimal screen bezel.

Over the ear headsets used to be cool then later small earbuds become consumer demand.

Go online and check customer review for premium true wireless earbuds compare ipx rating, miniature size, light weight, well fit for fitness. None come close to Jaybird Vista.
Safe to estimate Jaybird Vista is the start while there will be other Jaybird model to be launch, which is the normal consumer electronics trending to remain relevant and competitive.

Tech wise Salute and Jaybird few months ahead of competitors.
The clear focus on electronics chips and fitting on encapsulation and miniaturisation also open other electronics product opportunities.

The company has visible near term earbuds and mouse sales prospect while there are potential growth from news business and new client.

Salutica is a rare competent malaysia company that has global sales.

This is not a recommendation to purchase or sell.

the forecast unit sales of true wireless hearables worldwide is 120 million units for 2019 and 230 millions units for 2020.
if the forecast for 2020 is 50% correct then about 175 millions units.

The following is my own estimate:
1) Jaybird has market share of 2 % and 30% of them made by Salute
that is 1.05 millions units.
2) Mouse unit sales estimate by IB estimate of 7 times, conservative estimate Salute can deliver half 2020 which is 3.68 millions units.
https://klse.i3investor.com/blogs/AmInvestResearch/2019-08-19-story220113-Salutica_Poised_for_a_Comeback.jsp
3) Each headsets unit Salute profit is USD 5 = RM 20
4) Each mouse unit Salute profit is USD 0.5 = RM 2

Estimate profit 1.05 x 20 + 3.68 x 2 = 28.36 millions for 2020 Q2 ~ Q4 + 2021 Q1.

These estimate do not consider other profit from other products.

I am confident Salutica is on profit recoveries path for 2020 and 2021, while profit growth has to depend on sales from new customer product.

These are estimate not recommendation to buy or sales.