in the case of dayang, people buy from 60 sen to $ 1.40 also make money........

08/03/2019 19:30



Why ni rasa familiar je oh ya mirip jejak Jaks satu masa dulu

60 sen to 1.80

64m loss again later

At least Jaks ada IPP yg teguh reliable

While oil price can collapse due to shale

U nak wait ok

Org yg ada ikut perkembangan Jaks dah nampak dah ada clarity

Apa no hope?

U faham ke x faham?

Skrg Jaks masih Pre dan harga rendah

U beli and wait till Jaks jadi fabulous kelak in few months time

Ni la strategy beli stk pr3fa8ulous ni

Besar return strategy ni

https://klse.i3investor.com/blogs/PreFabulous/196765.jsp

https://klse.i3investor.com/blogs/Jaks%20resources/196652.jsp

Big IPP priced at 3rd class property developer price ANOMALY

Hot Hot Hot

Bila jumpa lagi Koon?

HaHaHa tambah lagi

Sarifah asik terasa mcm tambah x cukup lagi

For Sarifah Jaks bukan contrarian Jaks is anomaly

Contrarian in life? Gay ke? Lesbian ke? Pandu opposite arah ke?

Bagus Veitnam EPC profit not wasted in last QR

Klau x closure hantu kak limah asik asik dtg balik munjur munjur lg

Klau boleh Sarifah don't mind Andy kitchen sank property biz in last QR

Biar bygone b bygone asap secepat mungkin share price may n affected notwithstanding

i3lurker u hantu betul

Satu lg to bear in mind i con projected Vietnam IPP EPC ada lg on purata 163m profit for 12 mths

Yg sekelian perlu bear in mind klau ada impairment tu pun jz one off

Lg lg taksiran Sarifah byk mesin mesin property bines boleh diambilalih construction business

Klau x closure hantu kak limah asik asik dtg balik munjur munjur lg

x takut la 'yang we adopt polisi transparent

Emm... apa pulak.. mcm mana tu came out wrong a bit

Perlu closure baru can move forward

DK66 'yang go do it la 'yang

Property business tu perlu ada closure

Lebih lebih lg now ada new information

It is not fully addressed sbb tu la masih haunted

No jgn malas go do it

DK66

As u noted...


For now, Jaks is haunted by the property busines...


So why don't u take the bull by the horns and buat analisis on wat maximum damage the property business can do on Jaks in d near future



Sarifah start by giving a few figures...

Interest x boleh capitalize lagi mulai July 2019 500m x 7.5% = 37.5m pa lebih kurang

Depreciation of 2 investment properties = 30m pa agak agak


Yg lain Sarifah leave it to you as u pandai write post panjang lebah


Wat d hell go maximum juga cover la potensi impairment yg mungkin ada bila property business ditamatkan Takut apa!!!

Tak payah sangsi Veitnam IPP

Koon went to site visit and came out convinced kan?


Rilak je Veitnam IPP kan OK


U think 8b punya projek main masak masak?

Adoi malu malu excuse Sarifah

Remember qqq3

Premature withdrawal

X dpt garner interest

Not too late for Koon


Property development kan beres dan Veitnam IPP kan beres


Proceeding towards PIVOT POINT


Koon pay attention Jaks hurling towards PIVOT POINT


Don't miss

PBB factored in 100% of RM 50m BG


c.60% discount.. arbitrary


Discount ni if justifiable in d first place kan jadi semakin smaller bila property development kan beres dan IPP kan beres


TP 1.60 kan materialize eventually x lama lagi



TP of RM0.65, derived from higher c.60% discount to our SOTP estimates of RM1.60, effectively pegged at c.6x PER. Neutral call is also retained. 


JAKS Resources Berhad - RM25.5m P&L Hit

Author: PublicInvest   |    Publish date: Thu, 17 Jan 2019, 09:58 AM 

The Group has decided to throw in the towel in the court case with Star Publications after trying to appeal for so many times but was dismissed by the courts. After the recent dismissal by the Federal Court, JAKS, after consultation with its legal advisors, has decided to release the payment on the bank guarantee of RM50.0m to STAR on 9 January 2019. As such, with its 51% equity interest in joint venture, the Group has said that RM25.5m will be charged off in FY2018. This comes as no surprise as we have already factored in the losses in our valuations. However, the timing of the write-down is now known and we cut our FY18 estimates by c.40% to account for this new development.

We are also wary over the various dilutive equity fund raisings done so far and the poor execution especially on its property business. All told, we maintain our TP of RM0.65, derived from higher c.60% discount to our SOTP estimates of RM1.60, effectively pegged at c.6x PER. Neutral call is also retained.

Source: PublicInvest Research - 17 Jan 2019

TP 90 sen not factor in claw back

Andy bukan articulate sgt tapi body language kelihatan berkeyakinan diri ada confidence


Andy mentioned Star Tower dah completed



Posted by SarifahSelinder > Jan 7, 2019 07:58 PM | Report Abuse 

Not all 50m kan burnt




So RM 50m BG yg jz baru release to Star tu nampak can claw back a big portion.


90% claw back RM 45m, 75% claw back RM 37.5m ada chance



Although management guided that there is the possibility that they could claw back a portion of the payment made in an arbitration court, we have not factor that into our numbers.




Pacific Star Project Will Have a Closure by 2019

Jaks is committed to complete the Pacific Star project by end of 2019, which will reduce the losses for the segment by around RM2m/month, as it would no longer incur LAD cost post completion. Management is confident that the current cash balance of RM92m is sufficient to complete the project post the RM50m (or RM25.5 for Jaks 51% stake) payment to STAR. Although management guided that there is the possibility that they could claw back a portion of the payment made in an arbitration court, we have not factor that into our numbers. Our core-net profit forecast for FY18 remains unchanged as we view the payment as one-off.

https://klse.i3investor.com/blogs/hwangdbs/190832.jsp

For the sole purpose of causing mass confusion

Fikir fikir kan la the charge in the quarter result could be 15m 25m 35m 45m 55m 65m 75m 85m 95m 105m 115m depend on d time vested

Lizi Must keep it real keep thing in proper perspective bkn jerit here jerit there want blood

Without this RSP xda la Veitnam IPP

.......the bill will come in coming quarter result for jaks shareholder to pay.


U nak talk abt fake expense?

Ya klau u look at it now skrg 30m shares nampak byk sekali


Tapi looking back tahu ka anda how many set back Vietnam IPP tu went through dulu ?!


If without this RSP prospect back then to keep Andy going Vietnam IPP tu sure dah aborted dah terbengkalai dah with masuk longkang consequences for JAKS due masuk longkang kind of impairment


Klau u bayar outside professional to do it easily will cost at least 1% of project value u do the maths n c


Must keep it real keep thing in proper perspective bkn jerit here jerit there want blood

Actually yg RSP ni very common skrg ni byk listed companies pun ada u chk n see

Klau tengok timing RSP disapproved dulu RSP skrg ni is to reward Andy past efforts in securing IPP Vietnam tu n the IPP has made good progress so far

Actually DK66 berisi DK66 has provided a very detailed explanatory post on Sarifah short post



SarifahSelinder Sslee 

Hold ur email dulu bukan mcm tu 

RSP ni approved by members in 2016 bukan skrg in last agm 

Given it dah diappoved members dan putting aside if Andy deserves it or not in term of cost to Jaks klau x salah Sarifah now skrg ni could b the best time to do it

31/01/2019 21:26



DK66 In June 2016, the EGM approved the 5 years LTIP, which may be extended for another 5 years, comprising of Share option and SGP (RSP and PSP). The later are given to employees for FREE, provided that the FREE portion shall not exceed 60% of the total allocation under the LTIP. The maximum number of shares to be allotted under the LTIP is 15% (not 30% as alleged by hng33) of share capital at any given point in time during the LTIP period. 

In May 2017, 24,500,000 shares were granted under the share option at RM1.40 exercise price. 12,000,000 of which were allotted to directors and has been exercised entirely. 

Accounting standard IFRS 2 requires an entity to recognise share-based payment transactions (such as granted shares, share options, or share appreciation rights) in its financial statements, including transactions with employees or other parties to be settled in cash, other assets, or equity instruments of the entity. 

Therefore, investors would have already factor in the potential charges to P&L from the LTIP as determined by the market price and the quantum of the grant. 

In this case, a very large portion of the LTIP was granted by way of RSP. Around RM19m (38m x RM0.51) will be charged to P&L in Q1 2019. The amount is not spread over a certain number of periods as all RSP are fully vested on 8 Feb 2019. This is an unusual practice as RSP usually has multiple vesting periods to encourage employees to stay longer. Why? 

Andy gets 2 out of 3 shares granted, and his family members probably get majority of the balance. 

I m not here to discuss ethical issues. Personally, I feel that the RSP has deviated from the purpose and intent of the LTIP which is to motivate “employees“ not bosses. 

Back to the point why now and in such hasty manner? The answer, of course, lies in the benefits of such doing. 

From the company’s stand point, it gets to charge off the entire RSP at around RM0.50 in one go. Otherwise, it needs to estimate the future value of the RSP which should be higher and apportion the higher charges over the vesting period causing lower profit in future financial reporting. 

From recipients’ (Andy and family) stand point, the RSP grants will attract personal tax based on the market value of the grants at the point of vesting. It is likely that the grants will be valued around RM0.50, hence much lower personal tax charges compared to early 2018 when the share price was around RM1.80. If the RSP has multiple vesting periods, the recipients will have to pay higher taxes for portions vested at higher market prices in future. Thus, higher personal taxes. 

Conclusion : The timing of the grant at current low price regime benefits the company in term of lower charges to P&L. It benefits the employees in the form of lower tax liabilities. 

Why has Andy decided to grant a very substantial portion of RSP with just 8 days SINGLE vesting period ? ..... logical thinking … Is Andy expecting the share price to continue moving higher from hereon thus taking advantage of current low price to minimize his tax payments on his RSP ?

31/01/2019 23:49

Tapi harap Koon ada profit kat Carimin x burnt so Koon can datang balik Jaks by end 2019

Carimin last quarter good result mungkin kerana oil co mobilising its oil machines which hv been rusting away again bila oil price naik

This one off mobilisation cume one off after oil machines dah start again no more

Actually Andy has been kind to Koon

Carimin major shareholders semua treating Koon as God sent rubbish bin terus dump all theirs rubbish Carimin shares at the first opportunity

While Andy actually tambah lagi tambah lagi tambah lagi

Carimin mkt cap cuma 170m susah nak lari kuat kuat dan no clarity in its future's earning as it semua bergantung if the oil co issued any purchase orders in the particular quarter

Sslee

Hold ur email dulu bukan mcm tu

RSP ni approved by members in 2016 bukan skrg in last agm

Given it dah diappoved members dan putting aside if Andy deserves it or not in term of cost to Jaks klau x salah Sarifah now skrg ni could b the best time to do it

Very quickly Sarifah realized tonto gusti more interesting thn staying around here yawn yawn yawn

Invest in anomaly dpt anomaly profit besar

Klau put in byk byk effort read a lot a lot apa cara pun can make profit

Sarifah personally suka invest in anomaly

1015 investing fund tat he cannot lose fund for education anak dia

I con is investing his spare cash dan still young

So bolih faham klau cara x sama

Adoi susahnya bikin short cut Sarifah bagi email Sharifah to u plus 1% of gain

I con nampak mcm something good may come out of blog u ni

Yg Sarifah can tell yg proven x bolih pakai is it is jz a lot of random tongue-flicking in, out and all around, with no rhyme or reason


So pls tell mcm mana nak norrow down initial investment candidates n reinvestment candidates?

Tinggi mana chances of success?

Berapa byk efforts kena put in?