Posted by Yespleaseletsgo > 2021-07-28 13:04 | Report Abuse

https://www.klsescreener.com/v2/announcements/view/3399789

Court case finally cleared!! FINALLY jaks got more money

Posted by Yespleaseletsgo > 2021-07-28 13:04 | Report Abuse

This is long overdue, hopefully later 55c

Posted by Superb99 > 2021-07-28 13:23 | Report Abuse

It has been sleeping for quite long

Posted by Davidl > 2021-07-28 13:55 | Report Abuse

Finally de sky return to blue, more & more gd news ahead.

Posted by lloydlim > 2021-07-28 14:30 | Report Abuse

Show time!

Posted by SarifahSelinder > 2021-07-28 14:54 | Report Abuse

Court ruled JAK x delivered late Star Tower

Posted by SarifahSelinder > 2021-07-28 15:14 | Report Abuse

x late sbb final delivery date of Star Tower was wef date of the last approval by d authorities of Star Tower building plan

Yg ni oso confirmed Star were fickle minded n asik change plan change plan x henti henti

Tis strengthened JAKS counter claims by a lot a lot

Taksiran Sarifah tat 50m BG 99% can get back

Posted by SarifahSelinder > 2021-07-28 15:16 | Report Abuse

Sekurang kurang nya tat 50m BG can get back

Claims yg lain odd pon good

Posted by Sslee > 2021-07-28 15:18 | Report Abuse

The Court of Appeal directed that Suit No.: WA-22NCVC-258-04/2019 where the Company has counterclaimed for damages arising from loss of profit from corporate exercise, loss of reputation and loss and impact on the status of the Defendant as public listed company and WA-22NCVC-374-05/2019 where the Company has claimed for the sum of RM248,242,987-62 as liquidated ascertained damages, RM297,035,481-00 as loss of proceeds from corporate fundraising exercise and refund of RM50,000,000-00 together with all interests pursuant to the Bank Guarantees be refunded, be reverted back to the High Court for full trial before Justice Nazlan Mohd Ghazali.

Posted by SarifahSelinder > 2021-07-28 15:24 | Report Abuse

Sslee

So u see Andy x bullshit semua delays ada la salah fickle minded Star

Posted by SarifahSelinder > 2021-07-28 15:26 | Report Abuse

SarifahSelinder Court ruled JAK x delivered late Star Tower

28/07/2021 2:54 PM

Tis ruling has strengthened JAKS counter claims by a lot a lot

Firstly if JAKS was not late wat d hell Stat boleh call d BG? So tis 50m kindly return Star

Posted by SarifahSelinder > 2021-07-28 15:28 | Report Abuse

Sslee

Maybe u owe JAKS BOD an apology sbb u punya post mortem post mortem questions

Posted by SarifahSelinder > 2021-07-28 15:29 | Report Abuse

50m kindly return plus interest earned

Posted by JJchan > 2021-07-28 15:50 | Report Abuse

if revert back to High Court---another 2--3year wait, then another 1 year for Appeal Court hearing,
then appeal to " appeal court Ruling "---Finally may end up in Federal Court but Najib Case
might occupied most time of Federal Judges----Delay another 2 years-----Anyway another
5 year wait.

Posted by SarifahSelinder > 2021-07-28 16:00 | Report Abuse

Immediate effect reputasi JAKS reinstated

Posted by masterkevin212 > 2021-07-28 16:03 | Report Abuse

FINALLY BOTH OF THEM WILL SETTLE OUT OF COURT LAH....

Posted by Sslee > 2021-07-29 09:01 | Report Abuse

Refer Annual report Page: 104

The effect of the disposal of JIC on the financial position of the Group as at the date of disposal was as follows: 2020 RM
Property, plant and equipments: 110,198
Inventories: 64,610,116
Trade receivables: 737,450
Contract assets: 15,878,018
Other receivables: 58,539,482
Tax recoverable: 1,479,659
Cash and bank balances: 1,057,964
Trade payables: (9,842,491)
Other payables: (233,225,013)
Amount due to ultimate holding company: (34,414,521)
Amount due to immediate holding company: (26,874,939)
Amount due to a related company: (12,789,590)
Net liabilities: (174,733,667)
Less: Non-controlling interests: 85,619,240
Total net liabilities disposed: (89,114,427)
Gain on disposal: 89,114,428
Proceeds from disposal: 1
Less: Cash and bank balances disposal: (1,057,964)
Net cash outflows from disposal: (1,057,963)

Question 1: Are the above SPA salient terms mean all the advances from JRB to JIC:

Amount due to ultimate holding company: (34,414,521), amount due to immediate holding company: (26,874,939) and amount due to a related company: (12,789,590) will be forgiven and ICD upon take over JIC do not need to payback these advances?

Reply : We have already replied and explained to you numerous times before the AGM and/or during the AGM that the relevant impairment provisions are required to be made on the receivables due to the fact that JIC (an ex-subsidiary company that has been dispossed of) is a loss making and negative NTA company. It does not mean that the receivables are forgiven

Posted by Sslee > 2021-07-29 09:03 | Report Abuse

Question 1: Page 117: Included in other receivables of the Group are the following:

(i) An amount of RM 36,615 (2019: RM 36,615) due from one receivable which is controlled by a Director of a subsidiary company. The amount is unsecured, interest free and repayable on demand.

(ii) An amount of RM 39,669,110 (2019: Nil) due from a former related company. The amount is unsecured, interest free and repayable on demand

Are these other receivables trade receivables in respect of construction projects in the ordinary course of business, not loans that attract interest?

Reply : No. These are the Interco amounts owing by JIC that has been reclassified as other receivables following the disposal of JIC which is no longer a subsidiary.

Question 2: What amount of advances to JIC are still in trade receivable and other receivables?

Reply : The amount of RM35.5 million is mentioned in page 114 of the 2021 Annual Report. These are not advances but trade receivables for an on-going construction contract.

Posted by Sslee > 2021-07-29 09:04 | Report Abuse

Question: Impairments of goodwill, trade receivables, other receivables etc are prudent and statutory requirements to give a true picture on the financial health of a company on financial year end basics and should not be abused to write off debt of related or friendly parties.

May I know had the management taken legal .action to recover debt from these debtors and for each debtor, what is the likelihood of further impairment or reversal or recoverability, where applicable, in FY2021 and beyond?

Reply : We have already replied and explained to you numerous times before the AGM and/or during the AGM. There is no abuse to write off debt of related/friendly parties.

Impairment of goodwill is in relation to subsidiaries affected by COVID-19. Impairment of receivables are mainly on JIC, a former subsidiary (not related party) of the GROUP that was loss making and in Net Liability Position. Impairments are provisions under accounting standards, not write-offs. Please understand the difference.

Posted by Karlos > 2021-07-29 09:14 | Report Abuse

Jaks -WC overpriced compared to Jaks-WB

Posted by Sslee > 2021-07-29 09:23 | Report Abuse

Included in trade receivables of the Group is an amount of RM 35,539,792 (2019: Nil) due from a former subsidiary company. The amount is unsecured and interest free.

Page 117: Included in other receivables of the Group are the following:

(ii) An amount of RM 39,669,110 (2019: Nil) due from a former related company. The amount is unsecured, interest free and repayable on demand

These two related to former subsidiary JIC will most likely suffer the fate of impairment for financial year end 2021.

Posted by Sslee > 2021-07-29 09:27 | Report Abuse

BOD, allowance for impairment of trade receivables (RM 25,862,099) and other receivables (RM 45,331,965). Please provide the names of debtors, amounts owed, reasons for the debts and any specific action taken to recover the debts.
- Appropriate measures are being taken.
- The impairment includes advances to JIC, a former loss-making subsidiary which has been disposed of at a gain.
- Bear in mind that in view of the current COVID-19 pandemic, it is prudent to expect impairments.

Question 1: The impairment includes advances to JIC. May I know what the sum is?

Reply : Please refer to the figures mentioned in your question above which was extracted from page 104 of the 2021 Annual Report.

Question 2: Please provide the names of debtors, amounts owed, reasons for the debts and any specific action taken to recover the debts.

Reply : We have already replied and explained to you numerous times before the AGM and/or during the AGM that we are unable to disclose the names of debtors due to confidentiality reasons. Nevertheless, appropriate measures are being taken.

Posted by Sslee > 2021-07-29 09:35 | Report Abuse

LTIP consists of: Share Option Grants (Price at VWAP of JRB Shares for the five market days immediately preceding the date of SOG with discount of not more than 10%) and SGP Grants (Free JRB Shares grant without any cash consideration).

Question 1: Of the 15% of the issued and paid-up share capital (LTIP) how many % will be SGP Grants compared to Share Option Grant?

Reply: According to the circular dated 11 May 2016, not more than 60% of the new JRB Shares available under the LTIP shall be allocated in aggregate to the Eligible Persons under the Share Grants.

Posted by Sslee > 2021-07-29 09:40 | Report Abuse

5. Impairment of trade receivables and other receivable bases on customers/related parties that are in financial difficulties and have defaulted on payments. Should Management take legal action to recover receivables and at what stages the law allowed debts as unrecoverable and to be written off?

6. What are the rules and regulations to safeguard abuse/misuse by Management/Executive to write off debts by related or friendly parties as impairment?

Bursa reply:
Regards to question 5 and 6, kindly be informed that failure to comply with approved accounting standards is an offence under the Securities Industry (Compliance with Approved Accounting Standards) Regulations 1999. Should our review find any possible breach of the approved accounting standards, referral will be made to the Securities Commission accordingly.

Please also note that it is the prerogative of the Board of Directors of the listed issuer whether to take legal action with regard to recovery of the receivables.

Posted by SarifahSelinder > 2021-07-29 09:55 | Report Abuse

Sslee

Which parts yg u tak satisfied?

Posted by leno > 2021-07-29 10:08 | Report Abuse

Sslee donkey !!
Insas will be moving soon !!
SELL OFF EVERYTHING AND SAILANG ALL IN INSAS-WC !!

Posted by Windy1974 > 2021-07-29 11:01 | Report Abuse

Insas WC has an exercise price of 90 sen and 2026 expiry. Warrant is a high risk high gain instrument which complement your portfolio and should not constitute more than 5% of any portfolio in my opinions. Of course, if one is to gamble then it's different matters.

Posted by BLee > 2021-07-29 11:10 | Report Abuse

@Windy1974, agreed with you. Anything given free as sweetener will 'fly away free' when the time expired..Happy trading

Posted by leno > 2021-07-29 11:11 | Report Abuse

I disagree.
It is not "percentage" that define someone is gambling.
I am not a gambler.

I have been in market since 1998.
Survive and make multiple millions, not 1 or 2 or 3 million, but multiple millions in profit.

Gambler cannot survive this long.

I cannot say anything in general like cannot more than 5% or less than 5 counters or this and that. It means little in real life.

At the end, the lesson is to LEARN a real knowledge, because fake knowledge kill faster than no knowledge.

Cheers !

Posted by sting79 > 2021-07-29 11:52 | Report Abuse

Leno: Honestly, I think not many care about your selfish promotion/advice regardless of your millions earned or wins you had. No right or wrong, but general consensus would agree that warrant is always a riskier investment, hence your sailang all in comment is a red flag in itself. Not to mention calling people donkey!

Posted by leno > 2021-07-29 13:02 | Report Abuse

General consensus also agree that general consensus could be wrong.
When come to investing, it is not the type of instrument is defined as risky or not.

Buying a common share for eg. serba with no audited account for the past 18 months is riskier than buying a dog shit in the middle of the road.
So, do not use general when u are buying specific.
When leno say insas-wc, we are talking about insas-wc, not kpower-wc or insas-pr or whatever.

SPECIFIC is the keyword.
Speaking generally this and that, is a waste of time.

Posted by leno > 2021-07-29 13:06 | Report Abuse

People do care whether leno make millions or not.
If leno do not make millions, or if leno lose a lot of money,
will u or any dog or donkeys listen to leno.
The answer is obviously ... NO.
That is why, leno always ask ... lu sudah kaya kah belum ?

Posted by Surge > 2021-07-29 13:47 | Report Abuse

Whatever comments there is no wrong & right, result is the final judge. Let’s see by End of August, results go south or go north, then we make a decision whom to trust!!

Posted by leno > 2021-07-29 13:58 | Report Abuse

There is the problem here.
By end of august, u will know who to trust, but u may be too late to buy Insas-WC.

Leno is the OLDEST Oldbie in investment forum.
Leno reputation is undisputable.

Leno retired from medical profession (doctor) at age of 39 years old !!
Now 50 already.
Trust Leno.

Posted by Superb99 > 2021-07-29 15:14 | Report Abuse

good news but holland price

Posted by sting79 > 2021-07-29 17:45 | Report Abuse

leno People do care whether leno make millions or not.
If leno do not make millions, or if leno lose a lot of money,
will u or any dog or donkeys listen to leno.
The answer is obviously ... NO.
That is why, leno always ask ... lu sudah kaya kah belum ?

Sorry leno, I question everything, even if you are Warren Buffet, or Leno the self made multi-millionaire. Whether you make millions or lose millions, I try to take the good points wherever possible. Eg. consider buying Insas-wc after doing research etc, but will never sailang into it.

Proclaiming oneself as the OLDEST investor with undisputable reputation, asking people to SAILANG, saying any dog/donkeys will only listen to people who made millions - totally no no to me. Sorry but to me you are just another retailer like any of us here, but respect you for who you are.

Oh one last thing, please stop promoting other counters or your self made story here in JAKS forum, much appreciated!

Posted by tallman > 2021-07-30 09:31 | Report Abuse

today announce q report?

Posted by Surge > 2021-07-30 16:26 | Report Abuse

Wish this q to hit 30m

Posted by Bgt 9963 > 2021-07-30 16:58 |

Post removed.Why?

Posted by dchin472 > 2021-07-30 17:05 | Report Abuse

this quarter possible more than 20m

Posted by Surge > 2021-07-30 20:35 | Report Abuse

Most of revenue is from Vietnam, minimum impact on local political crisis

Posted by FaridIsland > 2021-07-31 14:21 | Report Abuse

49 again..from 90++..emm

Posted by tallman > 2021-07-31 18:20 | Report Abuse

How is the impact of revenue because Vietnem also lock down?

Posted by Surge > 2021-07-31 21:19 | Report Abuse

USD gone up, Vietnam locked down won’t affect so much. Believe can go up as what IB predicted.

Posted by Karlos > 2021-08-01 10:36 | Report Abuse

Even if there is lock down in Vietnam, it won't affect the operation of power plants as power generation is a very crucial and essential service.

Posted by tallman > 2021-08-01 18:26 | Report Abuse

Do you think the power consumption will be decreased during lock down?

Posted by i3lurker > 2021-08-01 18:35 | Report Abuse

Vietnam is closed to international inbounds.

18 million people consume a lot of power.

even so most power is consumed by commercials like hotels, shops and factories.

Domestic consumption is always insignificant in fifth world countries.

Posted by Karlos > 2021-08-01 21:03 | Report Abuse

Virtually most of the income come from maintaining plant availability, and very little from power generation. Whether the plant is generating power or not, the IPP owner will still get paid substantially according to the agreement provided the plant is ready to generate power.

Posted by Bgt 9963 > 2021-08-01 21:11 |

Post removed.Why?

Posted by garychee8 > 2021-08-02 14:56 | Report Abuse

Come on 0.465...