Posted by Sslee > Apr 15, 2019 1:28 PM | Report Abuse

I admit that I hate cockroach.

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hate is one thing but u are lousy investor and even worse analyst...at least that is fact.

don't understand equity accounting, don't go and teach people equity accounting....go ask politely.


As for jaks, love or hate Jaks its your prerogative. No single share is for everyone.

Make or lose money, besides skill, there is also fate....share market u are fated to lose nothing anyone can do.

Upon completion, its $ 150 m profits from the IPP net of tax.

Discounted at 12% divided by 600 million shares, its $ 2 per share.....and this not including any other assets they have.

I will take this as 12 months target price, not bad compared to 85 sen.

I am hopeful they can sell the Mall for $ 400 m , take a $ 200 m hit but raise $ 100m cash.

In PJ, cannot do meh? Management says the Mall is cashflow positive.

Dayang, $ 3 drop to 50 sen, everybody curse its management. Can also rebound to $ 1.70

Jaks, $ 1.80 drop to 50 sen, everybody curse its management. Can also rebound to....?????.....and what about the risk that is true the management is not half as bad as the worse case scenario?

IPP is automatic, I don't worry for it.....People are worried about the property division. Pacific Star was launched during good times and I understand the condominiums have been sold ...risk I may be wrong.....but what is the Pacific Star sales?......If it is just late delivery problems and not sales problem, then nothing to worry about, in fact got pleasant surprises in store for you.

As for the Mall.....$ 600 m book value, $ 300 mortgage loan, worry for what?

In conclusion, analyzable and stay positive.

analysis is not a contest of imagination.

analysis is looking at the forces of nature........coolly and calmly......

I understand IB are coming back into the act.....completion of IPP is getting close, no time to wait, to stand and stare.

u cannot compare gain from Jaks with bacarat. Jaks gain is known and knowable in advance. Its call analysis.

Impressive

https://klse.i3investor.com/blogs/qqq3/200821.jsp

not fair...calvin got 2 bites at the apple.

by probability > Apr 14, 2019 10:59 PM | Report Abuse

so the US$ 120M profit is excluding any principal payments to the loan?
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Profits....u don't know how to calculate profits one meh?

BNF trader losses ) Philip > Apr 14, 2019 9:39 PM | Report Abuse

risk
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Since I escape the slaughter in Jaks $ 1.80 to 50 sen....I consider that good omen. The risk in Jaks is no more than the risk in small cap index which did well these 3 months. Once a while also got to invest not just trade.

But Jaks got interesting angle...a green field IPP. People like me normally do not get chance to participate in greenfield IPP.

Risk of Jaks 50 vs $ 1.20? I will take the $ 1.20 road....take the chance that big funds will come in.

85 sen today

$ 1.70 already doubled.....After that, I pass to retirement fund managers.

on Jaks...............


qqq3 Philips...go buy some Jaks.

Its not gambling. Its still investing even thought Jaks is not historically an exemplary company.

Its still investing in a company with great growth prospects., managed by CPEEC , the largest electricity contractor in China....and Jaks is only a passive investor with minority stakes. Once the thing is switched on, don't need Jaks to be genius to see money coming in. Its an IPP after all.

and except that sslee and Kc Chong are dinosaurs like their hero that benjamin guy.

Posted by Icon8888 > Apr 14, 2019 8:29 PM | Report Abuse

You guys are a bunch of strange fellows

qqq3, sslee, KcChong...

All of you ...
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except I am the only one with some expertise in accounting matters.

As for Insas, Insas sure die.

Starting this quarter Inari no longer an Associated company. P/L sure to collapse. Sure die.

As for the $ 150 m eq profits, that is already after interest and depreciation charges.

As for project loan of US $ 1.4 billion, that is in JV books, and associated company loans are not consolidated.

icon....u think can charge SSlee for consultancy services?

kcchongnz > Apr 14, 2019 8:07 PM | Report Abuse

whatsapp
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whatsapp? recently talking about China.

standard and normal for IPPs....after completion, go listing, harvest one round.....

dividend payout ratio very high....this is normal for all IPPS in Malaysia and also existing ones in Vietnam.

probability S&A i meant as labour cost...coal power plants is labor intensive

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really meh? Not as many workers as Magnitech.....

kcchongnz > Apr 14, 2019 7:46 PM | Report Abuse

Wonder why someone is so proud of others calling him a cockroach.
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its ok one...its a term of endearment ....suggest I can survive even a nuclear armaggedon.

sslee and kcchong, same genes

won't go far one., not that I want to look down on u.

together with raider belongs to the dinosaur era.

KYY is a no nonsense decisive guy....admirable.

Posted by kcchongnz > Apr 14, 2019 7:24 PM | Report Abuse

Quickly whatsapp him what he thinks about Andy and tell us asap please!

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very easy....as far as KYY is concerned, whatever shares he has is the best in the world, whatever shares he has sold are the worse in the world.......that is just kyy being kyy....and his secret of success.

osted by kcchongnz > Apr 14, 2019 6:53 PM | Report Abuse

Margin big time lah, sailang big time lah. Why just a tiny small time trader and quack quack quack all the time?
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"people want to invest, they want to be successful.......they need to have big dreams, and grit....and of course, knowledge and mind set."

I try to be ambitious and daring even, at times. I learn a lot in my times whatsapp with KYY.

I don't know about character assassination but I have opinions and I post my opinions.

d by kcchongnz > Apr 14, 2019 6:33 PM | Report Abuse

But most of those in i3investor know you enticed your master (and newbies) continued to sailanng and margin Jaks up to RM1.80+, spending RM300m on a single counter. And you boost about making a killing. Where does ""killing"" comes from, if not from your master, who lost more than RM100m?
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u are talking nonsense. I am but a small time trader. KYY is a big trader. One of the biggest in Malaysia.

y kcchongnz > Apr 14, 2019 5:53 PM | Report Abuse


""it’s delusional to hope that a dishonest CEO will have a change of heart. Crooks turn into saints only in movies and stories. It’s not impossible but very uncommon because people don’t change. Turnarounds seldom turn – Buffett may have said this for businesses, but it’s equally applicable to people’s character.""

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is that not calling Andy a crook?

I did not con KYY and anyone.

All I did was I did not buy any Jaks on the way down from $ 1.80 to 50 sen.....just call it good market sense......

kcchongnz > Apr 14, 2019 6:17 PM | Report Abuse

Posted by qqq3 > Apr 14, 2019 6:12 PM | Report Abuse
u call him a crook, all out emotions and nothing to support your claim


Where did I call Andy a crook?
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u just did...or did you delete your post?

kcchongnz > Apr 14, 2019 6:15 PM | Report Abuse

Haven't you guys been exchanging whatsapp?
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kc...u are a ball of emotions...I am water. I am cockroach. I can survive even a nuclear armaggedon.

kc
....i know u want to project a conservative image but in reality u are a ball of emotions

typical kc stuff

u call him a crook, all out emotions and nothing to support your claim

I am asking u about Andy.....

by kcchongnz > Apr 14, 2019 5:53 PM | Report Abuse

Crooks turn into saints only in movies and stories
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what has Andy done? broken any laws? lying?

The only thing I know is his father used to be a big punter when Jaks was WingTek back in the 90s.

by kcchongnz > Apr 14, 2019 5:53 PM | Report Abuse

Crooks turn into saints only in movies and stories
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what has Andy done? broken any laws? lying?

Posted by Nikmon > Apr 14, 2019 5:05 PM | Report Abuse

dont worry about IPP, i more concern about pacific star
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what u worry about? what is the worse case scenario? can bring some facts to the table, not just emotions.?

stockraider > Apr 14, 2019 4:50 PM | Report Abuse

Not guarantee by Viet Govt lah....!!
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u are entitled to your own opinions but as usual u are just a troll........lol.

subsidy because want to keep tarifs to consumers low and also want to attract investments in IPP.

they can always their up the tarifs to consumers if they want to reduce subsidy....no difference to Jaks.


Jaks got its own signed contract with the state monopoly.

Posted by stockraider > Apr 14, 2019 4:23 PM | Report Abuse

Btw Tan teong boo is not a margin of safety investor, nor a quality stock investor , he is just a market timer loh...!
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what market timer? He has not timed any thing for 10 years. I was at his seminar yesterday.

kc...go ask the young ones like punter for their tastes lah......

kc....the power of the internet and the millennial generation, their tastes, their wants and desires means the world has passed Benjamin by.

I officially classify u and that raider as belonging to the dinosaurs.

Posted by probability > Apr 14, 2019 3:50 PM | Report Abuse

If you are purely satisfied with earnings from subsidy and not hinting on potential higher earnings (false optimism) , then i have nothing to debate against your opinion.
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US$ 150 million accounting profits from a US$ 1.8 billion power plant , or 8% accounting rate of return sounds reasonable and doable to me.

The last time I met Andy, he says this cashflow is conservative because don't want to show Vietnam government super profits......reasonable or not?

That is their business isn't it?

That is what I call opportunity.

Investors classify IPPs as cashcows.....that is correct all over the world.

by probability > Apr 14, 2019 3:23 PM | Report Abuse

with OIL the costs is already VND 5,000/kWh....discount half of that for COAL...thats about 0.10 USD/kWh....

JAKS profits of 150 M can only be purely at the mercy of someone.
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I would not call it mercy. I would call it, a contract is a contract. And Jaks got a singed sealed and delivered contract.

Posted by kcchongnz > Apr 14, 2019 3:22 PM | Report Abuse

Posted by qqq3 > Apr 14, 2019 2:26 PM | Report Abuse

in the algorithm between between quality and your margin of safety and assets and low quality earnings...........raider...u belong to the dinosaur era never to see light again.

What the F*** is that? ""Algorithm between quality and margin of safety""?
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KC...share market is always about striking the right balance. And choose the better option.


yes...there is this ever present conflict between quality and your margin of safety and assets and low quality earnings..and your so called cash cows.........

Who is that Benjamin Graham guy? I think the world has passed him by......Even your fellow value investor Tan Teng Boo Icap admits the world has changed. I call BG a dinosaur too.

and your cash cows can become very moody cows indeed.


https://klse.i3investor.com/servlets/forum/600202164.jsp


Uber admits yesterday, shareholders may never see profits in Uber, yet Uber is still a very sought after share.

go figure.

the thinking behind betting Canone not bad one. But I am a bit late to the game.

yesterday cash cow quickly become tomorrow sick cow.

cash cows or sick cows? how is the business environment? and they keep changing

scouting for cash cows.........but many are moody cows.