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25 comment(s). Last comment by Philip ( buy what you understand) 2020-05-07 12:38
Posted by Philip ( buy what you understand) > 2020-05-01 13:14 | Report Abuse
Posted by Philip ( buy what you understand) > 2020-05-01 20:20 | Report Abuse
Posted by Philip ( buy what you understand) > 2020-05-01 22:09 | Report Abuse
Posted by Philip ( buy what you understand) > 2020-05-02 12:11 | Report Abuse
Posted by Philip ( buy what you understand) > 2020-05-07 12:38 | Report Abuse
Philip ( buy what you understand)
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Posted by Philip ( buy what you understand) > 2020-05-01 07:56 | Report Abuse
in my opinion of JAKS, I am not an investor. This is because I cannot invest directly in the power plant. Instead, I have to put money into JAKS itself, which is run by a CEO that I do not trust or respect in Andy Ang who hides information from shareholders and does poison pill defence, a management that does a poor job in building a shopping mall in a place no one wants to go to (evolve), and has multiple LAD and delays in its property development (50 million incoming LAD to STAR), and a legacy business of steel pipe supply that cannot compete locally. The company also has a history of funneling company funds to many ventures like that has expenses but so far no adequate returns on capital. Many cash calls, zero dividends.
The power plant is definitely going to complete and COD will strike. Hopefully before December when the LAD will kick in.
I have faith in the chinese counterpart to complete the power plant on time.
I have zero faith in JAKS management to manage the earnings from the power plant to grow shareholder value.
I compare the power plant to inari, and JAKS to INSAS. Why is INSAS selling at such a huge discount to assets despite holding a huge portion of INARI shares?
2 words: Management Execution.
I wish connie all the best. You are a brilliant investor, especially coming from kuantan. But the fact is, once JAKS gets the earnings, how sure are you they will be able to either pay a consistent dividend, buyback shares, use the earnings to take on bigger profitable jobs instead of going further into debt?
Their history already shows execution risk.