Correspondingly, the intangible assets was increased in 2 years (85M+135M) with total of RM220M, this was also stated in Note No.5 of the Audited Accounts 2014.

All in all, the profits of at least RM55M (2013: 19M + 2014: 36M) are paper profits, arising from the recognisation of profits & loss from IC Interpretation 12.

That explained why the company needed so much cash (Example in 2014: 36M private placement + 26M net term loan).

2012:
Total External = RM171M - RM0M = RM171M

The external revenue from Environment Engineering Segment were infact decreasing over the past 3 years.

That mean, if without the TLM project, the actual external revenue for Environment Engineering would be as follows:

2014:
Total External = RM151M - RM135M = RM16M

2013:
Total External = RM183M - RM85M = RM98M

The accounting entries should be like this:

Dr Intangible Assets
Cr Revenue

Dr Cost of Revenue
Cr Bank (Payment of expenses)


Please correct me if I am wrong.

Sorry, I overlooked, it is actually stated in the Notes 2.7.B: Intangible assets recognised pursuant to IC Interpretation 12.

Also see here:

Included in the revenue of environmental engineering segment is an amount of RM135,640,117 (2013: RM84,689,433) which represents the construction revenue recognised pursuant to IC Interpretation 12 (“IC 12”) - Service Concession Arrangements from construction of a public service infrastructure. Revenue is recognised in accordance with MFRS 111 and based on the percentage of completion method during the construction phase.

Also here:

Included in the cost of sales of environmental engineering segment is an amount RM99,460,503 (2012: RM65,422,723) which represents construction costs recognised pursuant to IC Interpretation 12 - Service Concession Arrangements from the construction of a public service infrastructure.

Anyone knows what is Intangible Assets as recorded in Cypark accounts?

I can't find any details about this & it has churned up to RM335M in the latest QR, about 39% of total assets (RM853M).

I think if anyone want to get big fat profit over a week or 2 under this stock, I think they will be disappointed very soon.

I like what Pisanggoreng said:

pisanggoreng: all my brothers and sisters here,

this counter is very naughty, like to play reverse dance, but don't worry, based on my long time observation, the steps are front,front, front,back,back front, front, front, back, back,........
28/10/2015 12:54


3 steps up, 2 steps down.....trend continue

Cold Eye increased his shares from 1,800,000 to 4,600,000. What say you?

Yee, if you marry her, you can stand a chance to become CEO in future. :)

Pisanggoreng, I am waiting the plane to fall on 1.47.

Tksw, now I only know the falling one is richer than the one keep calling "everyone can fly"

I called his fund manager just now.

I saw falling plane start selling: 10, 15, 8, 5, 2, 10, 12, 3. Finished. All sold. All at RM1.50.

Good profit, plane.

Every Q price up 10%, one year will be more than 50%.

If the coming quarterly announcement with result up 100% above, then there will be a BANG!

Yah, good news as said on Saturday, but it is not a decisive factor, the coming quarterly report will be more important.

Oops, over 5pm already, not a bad day!

Agreed with Kai.

Most importantly are the results (order book & profits), the price will gradually increase over time.

2014 AR shareholders analysis may give more clearer pictures:

Holders of less than 10K shares - 4,135 (shares held = 16,519,354)
Holders of between10K-100K shares - 1,170 (shares held = 37,975,564)

The above 5,305 ppl are holding 25.19% of total shares of Gadang.

Many of them may be happy to cash out at this level of prices.

I hope to cumulative more but i am reaching my limit already, have to reserve to buy for future in case of drop in prices.

Yee, 我的侄子也有几辆跑车，有手推的，也有电动的。

In fact I feel lucky to able to get a hand on this stock even after Icon wrote about this stocks & lucky enough it always got sell down forces whenever went up.

If this stock already go to RM2, very likely you won't see me here.

Haha, never mind, Icon, thank you anyway. I rather not to see, it will only jeopardise my eating mood.

By the way, Yee & Icon, how do you know this falling plane is 40++ stooped guy? Seen him before?

It is funny, sometimes we need 搞屎棍来活跃气氛 (joker to cheer up the party), we are so lucky to have one here, as sometimes investing is a bit boring.

I have no ideas why many people like to think they can beat the market as the history in all markets locally & oversea has already proven no short buying will make money in long run.

Only the brokerage fees from buying & selling are already killing all possible profits.

More knowledge is needed than sense in investing, always six sense will kill you, that's my 2 cent advice, take it or leave it, that's your choice.

I do not believe in senses, which I think falling plane is always using six sense in investing and may be someday can hit the jackpot, I don't know.

I trust my judgement based on my homework done and analysis made by referring to past 10 years annual reports & announcements.

I sold all my airasia shares with profits after buying most below RM1, I will not keep talking at the forum there since I have nothing there & not going to buy any airasia in near future unless another sell down.

But, why falling plane is here? That's the miserable question no one knows.

If the price up coupled with high volume, it means the increase is real & sustainable, not the fishy one.

I am having same thought with you that not sure why so many ppl selling, may be they know something we don't know like the falling plane?

tksw, Mr Market is always changing its mood, don't buy in one time but buy progressively or periodically, I personally believe this is good stock & worth to hold no matter what Mr Market offers.

Paperplane, i think you are referring something from somewhere nobody know, probably not from earth.

Annual report will be out by this week anyhow, we will see your credibility then.

The selling force is so strong until price was pressed down from 1.55 to 1.49

New contract is a plus point to prove this stock is capable of getting new contract from big guns and able to keep its business running in the current difficult economic climate.

I am very much looking forward to see if there is any growth in the top & bottom lines as well as the total order book from the up coming quarterly report next week.

Just my opinion, may be right or wrong, don't take it seriously.

It is ok, Yee, everyone start from small, it is better learn the trade & sometimes feel the pain when small, you will earn enough to be big time goes by, trust me.

Agreed with Apini, but one must do his/her homework before making any investment decision, know what his/her purchase.

Buy at the right (cheap) price is golden rule, it will ensure bigger scale in margin of safety.

When opportunities come & you are ready, what else can it go wrong?

I always believe patience (to wait for return) & greedy (to buy more when cheaper) are very much needed characters in investing.

Yee, I am not sure on the quantum or % over the particular year, project launched in 2013 (this one has to be confirmed by icon, he is the best in this as he wrote articles for Gadang previously), but actual % of completion is not disclosed elsewhere (as I can't find in the internet).

What I know is the payment from JV over the land is based on Survey of Work Performed, changed from Stage of Completion.

But what is actual progress I really don't know & also can't see from latest annual report or quarterly result.

Icon, please share with us if you have any first hand info.

Bear in mind that current order book is on going & last yeat order book of 1.3b has been completed & delivered in year 2015 at amount of RM449M.

The newly awarded contract is just enough to keep the company busy in coming years. Unless more projects are to be awarded & cause increase in order book, we will see more price up potential.

With annual report is going to be delivered soon, we will know the order book by then. The more the better, giving the facts that the management is quite selective in their jobs.

Alpha, thanks for sharing.

I wonder if i3 pay Mr Chong for his articles uploaded here & also wonder how i3 earn to maintain the operations of this website. Such great writing & great source of info here.

Mr Chong, love to read your articles, hope you can keep writing and wish good health to you & your family!

Look here of what was reported in Budget 2016:

Construction of MRT2 Sungai Buloh-Serdang-Putrajaya costing RM28b to begin in second quarter of 2016, completed by 2022.

Source: http://www.nbc.com.my/blog/budget-2016-malaysia-highlights-summary/

Guess how much Gadang can get from this cake?

A small slice is already very good enough already.

Stop buying last 2 days and now will surely buy more on Monday!

Well done! Gadang! I like the announcement, it boost up order book & future revenue.

Selling force comes again....

Got it, yeekarwai, thanks, but not necessary FF is buying Gadang.

Yeekarwai, how to see who buy more? Thank you in advance.

Very much look forward to know the latest construction order book from the annual report / quarterly result.

With its ability to be awarded & construct for MRT & RAPID 2 Projects, hope can get more government project in the coming months.

Even though it is not, the profits are still much visible for the coming years, judging from the Capital 21 project, span over to 2018.

The problem is I can't get the details of the progress of mall building. Anyone here knows?

龟仙人，i like your statement:

"Don't celebrate too early. This stupid stock has a habit of retracing."

Different views & angles will give different dimensions of the matters, opportunities & risks are twin brothers, The more information we have, we may be able to make better decision.

We can not please everyone, hope kcchongnz can continue his good works.

Keep it up!　Cheers!

Total buy bid RM890k Vs Total ask bid RM630k