Posted by Aseng > 2021-07-02 13:37 | Report Abuse

so.... we see there are many things that not an accountant or someone familiar with the company accounting can understand .

there are many accountants here reading your questions too...but still choose to put their money here .

Posted by Sslee > 2021-07-02 13:38 | Report Abuse

By the way which of my questions mislead the reader here with all the questions that can be wrong or biased .

Posted by Sslee > 2021-07-02 13:41 | Report Abuse

You should ask ICD why so crazy to bought a company for RM1.00 and assume the debt of Rm170M ?

Posted by Aseng > 2021-07-02 13:45 | Report Abuse

Please work hard to find out the truth . share with us later.


Dont make known you questions here too early before you have a solid answers, if you know only the management can answer your question .


You questions can provide a wrong picture for our good friends GGcomlia and laughingmosqito who have nothing better to tell but still want to tell . worst still like to ka-ka-cau-cau when we are discussing something serious and will bring good knowledge to everyone here .

Posted by AlsvinChangan > 2021-07-02 13:56 | Report Abuse

I have not view subsidiary accounts as the subsidiary are not public company

BUT

i can check how much the Parent company loans to its subsidiary several years back in accounts normally mentioned as Notes to accounts

BUT i not going to do that as it takes times and effort

Parent company gives loans to subsidiary is not as simple as parents gives loans to their childrens

These loans to subsidiary are documented and discussed by BOD and theirs lawyers n accountants. DO you have a copy of those intercompany loan ageements?

The parent company finally sold off the subsidiary. DO you have a copy of those SALE of subsidiary agreements? maybe a clause said WHEREBY parties agrees to waive the loans. As some said the sale price already included writing off the loans by both parties

there are many things outside dun know

51% owned by JRB possible 49% owned by BOSS or family member or friends or what ever
this my own assumptions



I only know JAKS delay completing STAR HQ in PJ, nothing else
JAKS done nothing wrong

Posted by Aseng > 2021-07-02 14:06 | Report Abuse

very reasonable argument . In most cases there directors guarantee of loan too. it is not that easy to wash money like we imagine

Posted by Aseng > 2021-07-02 14:08 | Report Abuse

so why worry the receivable can not be recover now ? why make the conclusion now this intercompany loan with interest is certainly can not be recovered . isn't it biased ?

Posted by Sslee > 2021-07-02 14:14 | Report Abuse

I ask, BOD, what are the salient features of the SPA (Sale and Purchase Agreement) on disposal of JSB 51% equity in JIC to ICD for consideration of RM1.00?
And the Board answered during AGM please refer to:
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3091961

The Bursa annoucement did not give any salient features hence a meaningless answer similar to:
Quiestion : is the amount owed by JIC to the group fully written of ? if not, what is the remaining balance and when will the amount be received ?
Answer : Adequate impairment provision had been made

Posted by Aseng > 2021-07-02 14:18 | Report Abuse

this argument is beautiful


"These loans to subsidiary are documented and discussed by BOD and theirs lawyers n accountants. DO you have a copy of those intercompany loan ageements?

The parent company finally sold off the subsidiary. DO you have a copy of those SALE of subsidiary agreements? maybe a clause said WHEREBY parties agrees to waive the loans. "

Posted by Sslee > 2021-07-02 14:21 | Report Abuse

Pacific Star project all the residential units also delay handover to buyers since end Aug 2016 and incurred hundred over million in LAD.

Posted by Aseng > 2021-07-02 14:22 | Report Abuse

this provides a valid reason to make a police report for CBT or whatever wrong doing if parent company gives loans to subsidiary is as simple as parents gives loans to their children.

Posted by Aseng > 2021-07-02 14:25 | Report Abuse

LAD has become a history . no more LAD from now for Jaks

Posted by Sslee > 2021-07-02 14:26 | Report Abuse

So am I wrong to ask.
Question 1: INED may I ask, JIC “Pacific Star” project, Net liabilities RM (174,733,667) due to Liquidated and Ascertained Damages payment for delay handover of properties to buyers. Had INED done a post mortem and held Management/Executive Directors answerable, accountable and responsible for the mismanagement of the project?

Posted by AlsvinChangan > 2021-07-02 14:26 | Report Abuse

I only know JAKS delay completing STAR HQ in PJ, nothing else

my assumption is that subsidiary is the main contractor to build STAR HQ
that subsidiary failed teriblly JAKS declare NEVER to undertake construction business, just get rid of this subsidiary at whatever cost and all investment in this subsidiary write off GONE

MY OWN ASSUMPTION ONLY

Posted by Aseng > 2021-07-02 14:27 | Report Abuse

now we see is a clearer picture .

the power plant .

the company new life

Posted by Aseng > 2021-07-02 14:29 | Report Abuse

laughingmosquito apek seng is a dude man, talk nothing meaningful!
02/07/2021 2:17 PM



diam lah.....

this is why DK doesn't want to come here to talk .
and you learn nothing

ka-ka-cau-cau

don't knot for what ?

Posted by Aseng > 2021-07-02 14:39 | Report Abuse

So am I wrong to ask.
Question 1: INED may I ask, JIC “Pacific Star” project, Net liabilities RM (174,733,667) due to Liquidated and Ascertained Damages payment for delay handover of properties to buyers. Had INED done a post mortem and held Management/Executive Directors answerable, accountable and responsible for the mismanagement of the project



Answer : NOt wrong but make people angry and ignore your question .


similar to a ka-ka-cau-cau that serve no purpose

if i were you, I will focus on the net liabilities RM174733667. how it is agreed upon by both parties ?

Posted by Aseng > 2021-07-02 14:42 | Report Abuse

my common sense ,

for a limited listed company , normally there is a director guarantee for inter company loan

Posted by Aseng > 2021-07-02 14:47 | Report Abuse

Dear Sslee ,


who is the owner of ICD ?

same group of people in JIC ?

Posted by Sslee > 2021-07-02 15:13 | Report Abuse

Background information of ICD
ICD was incorporated in Malaysia on 2 November 2000 under the Companies Act, 1965 as a private limited company and is principally involved in property development and management business. As at the LPD, the existing shareholders and directors of ICD are as follows:-
Directors / Shareholders
<----------------- Direct ---------------> <-------------- Indirect --------------->
No. of shares % No. of shares %
Chen Cheong Fat: 1,075,000 65.00 - -
Rasli bin Musamah: 575,000 35.00 -) -
Lee Keng Kee - - - -

As at the LPD, the subsidiary and associate companies of ICD are as follows:-
Subsidiary Company: Effective Equity Interest (%): Principal Activity
Pacific Place Land Sdn Bhd: 100.00: Property development
Associate Companies: Effective Equity Interest (%): Principal Activity
JIC: 49.00 Property development
MNH Global Assets Management Sdn Bhd(1): 49.00 Investment holding and property development
Fortress Pavilion Sdn Bhd(2) 49.00 Investment holding and property asset management
Notes:-
(1) Chen Cheong Fat is a director of MNH Global Assets Management Sdn Bhd, which is a 51%- owned subsidiary of Harbour Town Sdn Bhd, which in turn is a wholly-owned subsidiary of JRB.
(2) Chen Cheong Fat is a director of Fortress Pavilion Sdn Bhd, which is a 51%-owned subsidiary of JSB, which in turn is a wholly-owned subsidiary of JRB.

https://www.theedgemarkets.com/article/jaks-buys-51-mnh
KUALA LUMPUR: Jaks Resources Bhd is acquiring a controlling 51% stake in privately owned property developer MNH Global Assets Management Sdn Bhd for RM93.2 million.The acquisition will enable Jaks to immediately gain access to MNH’s on-going mixed development project known as Pacific Place @ Ara Damansara in Petaling Jaya, which has an estimated gross development value (GDV) of RM938.31 million.MNH, which began developing the property in December 2010, is expected to complete it next year. The three-phase development consists of apartment buildings, shop offices, a retail complex and college accommodation. In a statement to Bursa Malaysia yesterday, Jaks said the purchase of the MNH stake is through its wholly owned subsidiary Harbour Town Sdn Bhd. The vendor is Island Circle Development (M) Sdn Bhd. Island Circle, whose two major shareholders are Chen Cheong Fat (65%) and Rasli Musamah (35%), owns 49% of Jaks Island Circle Sdn Bhd.
https://www.thestar.com.my/business/business-news/2004/05/18/shareholders-give-nod-for-wing-tiek-debt-restructure
18 Mei 2004 — Wing Tiek managing director Chen Cheong Fat told a press conference after the company EGM in Kuala Lumpur yesterday that JAKS will take over Win Tiek Listing

Posted by Aseng > 2021-07-02 15:23 | Report Abuse

my good friends,

I had already played my role here .

before I say bye and come back again ,

i wish to reiterate

I am more confident we are waiting at the right path to success.

Bye-bye .

see you again later .

I am going back to my home sweet home now .

Posted by SarifahSelinder > 2021-07-02 16:00 | Report Abuse

Sslee

U x boleh skrg ni look back into 3 4 years in the past n ask question post morten post morten macam ni

U hv to assume dulu dulu tu ada due process meaning u kena assume pd AGM AGM masa dulu dulu tu dah ada seorang Sslee yg telah asked the questions n agreed to d answer



Sslee So am I wrong to ask.
Question.... Had INED done a post mortem and held Management/Executive Directors answerable, accountable and responsible for the mismanagement of the project?

02/07/2021 2:26 PM



Sslee So am I wrong to ask.
Question 1: INED may I ask, JIC “Pacific Star” project, Net liabilities RM (174,733,667) due to Liquidated and Ascertained Damages payment for delay handover of properties to buyers. Had INED done a post mortem and held Management/Executive Directors answerable, accountable and responsible for the mismanagement of the project?

02/07/2021 2:26 PM

Posted by SarifahSelinder > 2021-07-02 16:06 | Report Abuse

Tapi

Go ahead to continue to bug Andy on recovery of due from ex sub due from directors controlled co dan due from all related parties

To continue to bug Andy on issues macam ni NOW so tat d future Sslee no nid to look back n ask ada bikin post morten or not

Posted by Sslee > 2021-07-02 16:31 | Report Abuse

Hi SarifahSelinder,
Dulu say ada tanya: Aside from the dispute with Star, that Completion Period for JIC to deliver STAR’s entitlement under the SPA is on 20 June 2020. Whose responsibility, accountability and duties to ensure timely delivering of service apartment units to the purchasers? Any action taken / claim against sub contractors found guilty of incompetent and failing/neglectful of duties to deliver these service apartments to purchasers timely?

BOD tah mahu jawab so tahun ini cuma boleh tanya post mortem sebah sudah jual JIC dan tak ada kuasa lagi buat claim against sub contractor or third party guilty of incompetant and failing/neglectful of duties to deliver these service apartments to purchasers timely?

Posted by SarifahSelinder > 2021-07-02 16:40 | Report Abuse

Sslee

Yg ni Andy x jawab terus tapi Andy dah place d responsibility on STAR dan telah ambil legal action against STAR kan?

Ada legal kes tengah tunggu bicara

See if STAR kan counter to blame Andy or contractors or not

Klau contractors or sub contractors yg screwed up tentu STAR x kan bagi chance

Posted by SarifahSelinder > 2021-07-02 16:46 | Report Abuse

Klau memory serves Sarifah right Andy ada bilang STAR kept changing plans yg bikin whole project late

Andy macam ada put in point ni in d legal kes

Posted by Sslee > 2021-07-02 16:55 | Report Abuse

Sevice apartments/residential units itu tak ada hubungan dengan Star kept changing design plan.

Posted by SarifahSelinder > 2021-07-02 17:00 | Report Abuse

Sslee

Ada ada according to legal suit ada put in a claim amount on LAD yg JAKS kena bayar pembeli pembeli residential units

JAKS ada basis kut else x berani put in claim mcm ni

Posted by Sslee > 2021-07-02 17:05 | Report Abuse

Ok thank you for the information: Ada ada according to legal suit ada put in a claim amount on LAD yg JAKS kena bayar pembeli pembeli residential units

Posted by SarifahSelinder > 2021-07-02 17:10 | Report Abuse

U double chk la

Posted by SarifahSelinder > 2021-07-02 17:11 | Report Abuse

Ingat To continue to bug Andy on recovery of hutang related parties

Posted by IronShirt > 2021-07-05 10:51 | Report Abuse

Coming Qr results will be terrible. Only Vietnam power plant can contribute, Local Construction
and Properties are Hit really Bad by Lockdown. 31Dec2020 Qr loss 199mil can be repeated

Posted by Roy 8 > 2021-07-05 11:19 | Report Abuse

Shortly after rights issue, now private placement. Shares dilution! Shark company? Profit????

Posted by steven832 > 2021-07-05 14:19 | Report Abuse

Give up on Jaks. Cleared all my position today.

Posted by garychee8 > 2021-07-05 14:53 | Report Abuse

managed to buy at 0.465..cheaper than pp...

Posted by WilburR2 > 2021-07-05 16:04 | Report Abuse

added 0.465

Posted by stockwin > 2021-07-05 16:06 | Report Abuse

You do not have to like ALP to buy Jaks,
If you love the potentials of the two power plants, you got to like Jaks,
At 46,5 sen, you can easily get today, That price is attractive enough.
Perhaps the naysayer are collecting now?

Posted by 12340987 > 2021-07-05 16:18 | Report Abuse

cheaper than PP.. apa lagi you mau?

Posted by OOMMGG > 2021-07-05 16:34 | Report Abuse

Top up some at.465. Unexpected cheaper than PP price

Posted by stockwin > 2021-07-05 16:45 | Report Abuse

I was told a sifu sold all his Jaks-WC at around 22.5 sen to buy HiapTek at around 50 sen. It must be a tough call for him. Perhaps both the counters are cheap now ??

Posted by Newbieinshare > 2021-07-05 16:46 | Report Abuse

This stock is dying slowly. RIP

Posted by Bgt 9963 > 2021-07-05 17:07 |

Post removed.Why?

Posted by LittlePony > 2021-07-06 09:24 | Report Abuse

Disappointed........ Power plant also cannot help push up the price...... Bad company

Posted by Armageddon > 2021-07-06 10:22 | Report Abuse

Damn the shark push back upward again knn!!!

Posted by Hui_k_c > 2021-07-06 11:17 | Report Abuse

sell do not keep non performing stock and we do not know what happening after 26 july 2021. stay out from the stock market and keep cash

Posted by WilburR2 > 2021-07-06 11:36 | Report Abuse

wow nice cash

Posted by Armageddon > 2021-07-06 11:54 | Report Abuse

Hui_k_c Bro July 26 what will happen to Jaks? Mind explain in details ?

Posted by yjasonng2020 > 2021-07-06 13:44 | Report Abuse

https://twitter.com/JJ39132147/status/1412285972239196162?s=20

Posted by cchcch > 2021-07-06 17:34 | Report Abuse

Pump up . Second wave . Wait and see .

Posted by yjasonng2020 > 2021-07-06 21:14 | Report Abuse

https://twitter.com/JJ39132147/status/1412346074107244545?s=20