Posted by Sslee > 2023-06-02 07:49 | Report Abuse

Remember who/whose was/were the one/many push down the price so that KYY get margin call

Posted by Striker90 > 2023-06-02 08:23 | Report Abuse

Good, many are watching

Posted by ValueInvestor888 > 2023-06-02 10:02 | Report Abuse

ALP so thick skin what to do? share price not performing( at historical low) due to local business losses and high operating expenditure + endless impairment and PP still got face to get over RM 10m remuneration

Sslee
What margin call? He can just issue LTIP free grant Jaks share to himself.

Posted by i3lurker > 2023-06-02 10:03 | Report Abuse

yeah when its LTIP free
selling at RM0.005 is already 100% profits

Posted by hng33 > 2023-06-02 10:38 | Report Abuse

Just wait for COD announcement on 50MW solar power plant anytime now.

Posted by m16454 > 2023-06-02 10:50 | Report Abuse

i3lurker yes u are correct. he still have profit on paper thru PP and LTIP, somemore the dividend is coming lol

Posted by hng33 > 2023-06-02 10:55 | Report Abuse

Construction loss incur due to delay in work progress and higher cost material and labour cost. However, loss making construction work is at tailing end.

Posted by Striker90 > 2023-06-02 10:57 | Report Abuse

sell off all lose making the it's a multi million profit fixed company. YTL Power in making

Posted by Striker90 > 2023-06-02 10:57 | Report Abuse

announce sell off lose making will fly aldy, KYY will buy 10% go back RM 1.4

Posted by Striker90 > 2023-06-02 10:58 | Report Abuse

build nicer financial profile , then only go bid other energy work

Posted by hng33 > 2023-06-02 11:01 | Report Abuse

Any new Constuction bidding will only focus on high margin and include current elevated inflation cost. But, unlikely for jaks to secure any new construction work now due to lack of gov and private spending.

It is wise for Jaks to focus on power generation, to secure more solar power even at net single digit profit margin, the more the better due to steady income over long term concession

Posted by Sslee > 2023-06-02 12:24 | Report Abuse

Jaks already sold its loss-making property development arm, Jaks Island Circle (JIC) for RM1 only, we still view the deal positively as it will push Jaks back to profitability while easing some of its cash-flow problems. The acquirer will assume all the liabilities related to JIC, while taking control over the Pacific Star project (Office and Residential). Jaks which has a 51% stake in JIC will record a disposal gain of around RM71.9m. The acquirer, Island Circle Development (ICD) owns the remaining 49% stake in JIC.

In the end all intercompanies loans to JIC was impaired. So the RM71.9m gain is just a syoik sendiri figure.

Two more loss making 51% subsidiaries
MNH Global Assets Management Sdn. Bhd. (“MNH”) Malaysia
Fortress Pavilion Sdn. Bhd. (“FP”)
When will sell to ICD for RM 1 and record a disposal gain of RM million again?


Summarised statements of financial position as at 31 December 2022:
FP MNH Total
RM RM RM

Non-current assets: 230,013,775: 332,332,266: 562,346,041
Current assets: 4,581,618: 17,641,667: 22,223,285
Total assets 234,595,393: 349,973,933: 584,569,326

Current liabilities :205,013,392: 203,849,675: 408,863,067
Non-current liabilities: 76,300,000: 216,418,493: 292,718,493
Total liabilities :281,313,392 : 420,268,168 : 701,581,560

Total equity :(46,717,999): (70,294,235) : (117,012,234)

Attributable to:
Non-controlling interest :(22,891,820) :(34,444,175): (57,335,995)
Other individually immaterial
non-controlling interest: 768,866
Total non-controlling interest :(56,567,129)

Posted by Striker90 > 2023-06-02 13:52 | Report Abuse

Summary

Jaks Resources Bhd’s (JAKS) 1QFY23 core net profit fell 33.4% YoY to RM14.1m, dragged down by lower contribution from Vietnam due to higher interest expenses arising from the rising interest rates. Revenue for the quarter contracted 20.7% YoY to RM14.2m.
The weaker-than-expected core net profit, accounts to 14.6% of our forecasted core net profit of RM96.2m. The variance was mainly due to the weaker-than-expected contribution from Vietnam. Still, we reckon that earnings sustainability from Vietnam may continue to cushion the weakness in the local operations.
Moving forward, the construction segment will focus onto the completion of outstanding orderbook of c.RM200.0m. We gather that the tenderbook remains healthy at RM2.00bn, mainly for hospital-related and water-related infrastructure jobs in relation to flood mitigation projects. We have imputed an orderbook replenishment assumption of RM50.0m for FY23f.
On the property investment segment, efforts to ramp up occupancy rates in both Pacific Towers and Evolve Concept Mall remain in place. The building management of Evolve Concept Mall was replaced in April 2023 in bid to rejuvenate the current dire situation. Still, we reckon that turnaround efforts may be challenging, owing to the oversupply of commercial floor space.
Elsewhere, the LSS4 project was completed (6 months ahead of scheduled commercial operation date) and aims to commence the commercial operations sometime in mid-June 2023. The group will continue to explore greenfield projects and acquisitions within the renewable energy sector in both Malaysia and Vietnam. With the completion of LSS4, JAKS will be eyeing a slice of 600MW of Corporate Green Power Programme (CGPP) programme from Malaysia’s Energy Commission.
JAKS is undertaking a private placement exercise and proceeds will be utilised to repay existing debts and fund working capital. We reckon that the move is essential, given that the group is operating in a negative net cash flow position over the past 8 quarters.
Valuation

Posted by hng33 > 2023-06-02 13:54 | Report Abuse

better sold all its 51% stake in investment properties, evolve mall and star mall. Incur one off loss is far better than continue quarterly loss making.

Posted by i3lurker > 2023-06-02 13:55 | Report Abuse

sslee
///When will sell to ICD for RM 1 and record a disposal gain of RM million again?///
you sound hostile
I did not realise you hate ALP so much

go have a Kit Kat

Posted by Striker90 > 2023-06-02 15:09 | Report Abuse

it doesn't matter one off loss, most important got ppl want to buy or take over. once news release immediately fly

Posted by Striker90 > 2023-06-02 18:05 | Report Abuse

the longer they press the higher the rebound, once pp amount clear, shark volume enough then push

Posted by Striker90 > 2023-06-02 18:06 | Report Abuse

just need to combine some good news

Posted by Striker90 > 2023-06-02 18:06 | Report Abuse

Bull running now

Posted by Striker90 > 2023-06-02 18:06 | Report Abuse

if you got wash out this round , you will cry within a month

Posted by soon9913 > 2023-06-02 22:34 | Report Abuse

all in next weekkkk

Posted by SinGor > 2023-06-04 10:57 | Report Abuse

From Traders i know that send almost any things you know to Vietnam, they said their Export Volume
has dropped 60% last 2 months. Many Vietnam factories exporting to EU are laying workers

Posted by valueinvestor33 > 2023-06-04 12:03 | Report Abuse

Trust me this counter is hopeless. The more you expect, the more you try to deny and find excuses to defend and the more you will be disappointed later.

Posted by soon9913 > 2023-06-05 11:23 | Report Abuse

anyone attending the AGM? lets vote against to all their resolution ya 🤣

Posted by m16454 > 2023-06-06 15:25 | Report Abuse

i will throw egg to ALP

Posted by soon9913 > 2023-06-06 16:14 | Report Abuse

lets goo... buy egg from teoseng

Posted by soon9913 > 2023-06-07 10:40 | Report Abuse

should propose sell the mall to Sunway lo, and close down the construction company.

Posted by John Mah > 2023-06-07 11:45 | Report Abuse

they will do another pp before 2024 for another 10% share since they dont have enough cash in hand and certainly no bank will lend to them. current share price havent reflect on it yet.

Posted by soon9913 > 2023-06-07 12:20 | Report Abuse

they will use their profit to buy the 10%.......

Posted by soon9913 > 2023-06-07 12:20 | Report Abuse

PP 10x also not enough money to buy the 10% la... one time PP only RM20mil.

Posted by soon9913 > 2023-06-07 12:24 | Report Abuse

the 10% to be exercise within this year , if not the right will be burnt

Posted by soon9913 > 2023-06-07 12:25 | Report Abuse

should sell malls and loss making construction co to raise cash.. sell at loss is fine also

Posted by TCH1186 > 2023-06-07 22:04 | Report Abuse

No need news. Even news can be bought. Its going downnnnnnnn

Posted by valueinvestor33 > 2023-06-07 22:44 | Report Abuse

A group of stubborn investors hiding in their abandoned chat group, still trying to find excuses on how the management will turn around the company.

Posted by Striker90 > 2023-06-07 23:46 | Report Abuse

Yaya, welcome to the abandoned group poor guy la you

Posted by soon9913 > 2023-06-08 10:09 | Report Abuse

buy this counter is like gamble also... hopefully it will open big big

Posted by soon9913 > 2023-06-08 10:09 | Report Abuse

the boss never explain clearly about the strategy but keep fund raising

Posted by soon9913 > 2023-06-08 10:10 | Report Abuse

never explain why existing biz still losing so much every quarter

Posted by soon9913 > 2023-06-08 10:10 | Report Abuse

maybe he tot he is king of the company

Posted by hng33 > 2023-06-08 10:22 | Report Abuse

Courting down time for announcement 50MW solar power plant commissioning now

Posted by hng33 > 2023-06-08 10:23 | Report Abuse

Courting down time for announcement dividend reinvestment soon.

Posted by hng33 > 2023-06-08 10:24 | Report Abuse

Courting down time for announcement subscription additional 10% stake to 40% in money making Vietnam power plant

Posted by hng33 > 2023-06-08 10:29 | Report Abuse

Just wait of above good news, stay tune

Posted by hng33 > 2023-06-08 23:29 | Report Abuse

The resolutions on the Proposed DRP will be tabled at the forthcoming Annual General Meeting for your
approval. The Board is looking forward to announcing the Company’s maiden dividend payment to reward our
Shareholders.

Posted by Sslee > 2023-06-09 07:00 | Report Abuse

Just ask the Board If can pay dividend then why PP?

Posted by Striker90 > 2023-06-09 08:22 | Report Abuse

buy the last chunk get lowest cost share, to entitle dividend in near future

Posted by i3lurker > 2023-06-09 10:00 | Report Abuse

PP is to pay dividend
Serba did the exact same thing

Sslee

Just ask the Board If can pay dividend then why PP?

2 hours ago

Posted by Windy1974 > 2023-06-09 11:01 | Report Abuse

Human nature to defend what we owned. Same question would get different answer from SSlee for Insas
Sslee

Just ask the Board If can pay dividend then why PP?

3 hours ago

Posted by Sslee > 2023-06-09 11:20 | Report Abuse

The same question why RI when Insas is cash rich?

Posted by Sslee > 2023-06-09 11:24 | Report Abuse

Leno answer RI to reward shareholders.

My answer RI for Dato' Sri Thong and PAC to hold warrants as defensive tool yo prevent hostile take over.

Note: Dato' Sri Thong and PAC hold 32.96% and any buying of Insas share will trigger the 33% threehold of MGO