Posted by Sslee > 2023-10-12 09:14 | Report Abuse

Posted by StartOfTheBull > Oct 12, 2023 9:01 AM | Report Abuse
Jaks coming QR is expected to be better

Coming quarter is expected to be Q to Q drop due to RM12.69M of LTIP expenses will only be charged to Q3 2023 under other operating, administrative expenses.

Posted by Sslee > 2023-10-12 09:18 | Report Abuse

And Q4 will be another Q to Q drop due to impairment of receivables and goodwill.

Posted by Johnchew5 > 2023-10-12 09:19 |

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Posted by Sslee > 2023-10-12 09:29 | Report Abuse

Non Current Assets :
PPE. 273,041,000

What kind of PPE jaks have?
Most likely will be like Serbadk impairment of PPE coming.

Posted by Johnchew5 > 2023-10-12 09:35 |

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Posted by joyvest > 2023-10-12 11:39 | Report Abuse

It is the fact that the collection problems has been deteriorating from one year to another.

This can be evident from the audited reports where the impairment for trade receivable has been increased to 17.5% representing RM 48m+++ in 2021 from 14% representing RM 41m++ in 2020

whereas non-trade receivables, it can be evident from the audited report where the impairment for non- trade receivable has been increased to 35 % representing RM 66m++ in 2021 from 28 % representing RM 41m++ in 2020.

It is expected the impairment will be even higher in 2022 and 2023

Posted by joyvest > 2023-10-12 11:39 | Report Abuse

The debt to equity ratio is " healthy " in disguise due to its massive share capital of 2.9 b . The massive share capital has basically been built up through issuance of warrants , PP and RI over the years with the agenda to keep the debt to equity ratio low as a means of window dressing.

However , it is believed that investor including the existing shareholders are no longer fooled to invest into the company through their further issuance of warrants , PP and RI and likewise the lenders are no longer keen to provide funding irrespective how " healthy " the Debt to Equity ratio shows. Thats why the company is faced with difficulties to raise fund be it internally or externally from now.

Posted by joyvest > 2023-10-12 11:41 | Report Abuse

The proposed DRP is really a mockery to the investors. Dividend declared to you but no physical payment. The investors are believed to be very pissed with this proposal. Fundamentally speaking, the investors are looking for two things in their investment returns. First is the " Dividend" and second is the " Capital gain through appreciation of share price ".

As at now , No physical delivery of dividend , No appreciation of capital gain but capital loss , on top of all things , the company is appealing to investor to pump in more investment through PP and RI. Do you really believe that the investors are keen to continue to support the company ? Basically , the investors have lost confidence in this company.

Posted by joyvest > 2023-10-12 11:42 | Report Abuse

From your posting, the share of JV profits is shown to be reducing in the interim which signifies that the projects are near completion if not completed. For this reason, the cash inflows should have been improved with the collection and return of retention .Why is the cashflows still depleting fast and furious? The proposed DRP and time extension of PP tell it whole.

Posted by joyvest > 2023-10-12 11:42 | Report Abuse

Referring to the proposed DRP , basically, the company is telling the whole world that they would declare " Dividend" but they are unable to pay . They are insinuating that they are cash stricken . They dont have " hard cash" to pay ie no physical payment of Dividend but merely for accounting purposes. Their reason given to you is that the company is in need of fund as working capital to fund the oversea projects.

To put it another way, the company is severely faced with difficulties to raise funding be it external funding ( the external borrowing to date stands at RM 600m and needless to mention PP and RI . RI is out of the question given the bad shape of the company. The only option left is PP. Even For the recent PP, despite it is not sizable , the company still finds it difficult to raise as a result of which desperate time extension is sought to complete the PP. so pathetic. More to reveal.

Posted by joyvest > 2023-10-12 12:03 | Report Abuse

Faced with serious cash stricken,it is expected that another cash call via Right Issue (RI) would be raised in order to subscribe for additional 10% ownership interest in JHDP which costs around USD50 - 55 millions (RM230 - 250 millions) under option.

Given the pathetic current share price ,Do you really believe that the existing shareholders would exercise the option by taking up the RI even though the payback is 5 years with handsome profit?

With the current MV of 0.21 which has been stagnant with no sign of growths , majority of the existing shareholders are said to be pissed off with the company for their huge capital loss suffered and likely to refuse to subscribe for the RI in protest.

On the other hand,the material litigation with star is yet to be over. It remains to be seem if the company could win the case or not in the Federal court.it is said the chance of winning is to be 50: 50.

In short,the worst has yet to come.....

Posted by Johnchew5 > 2023-10-12 16:06 |

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Posted by joyvest > 2023-10-12 16:47 | Report Abuse

MV= P/E ratio x EPS. For Jaks , PE is approximately 15 and EPS is about 2.5 on average so MV should be RM 0.375 . but why is it still bloody stagnant at 0.20-0.21?

The current reflection of share price of 0.21 can only be interpreted as " pathetic" due to its poor demand where most investors have ditched/sidelined this counter for the obvious reason(s).

Posted by joyvest > 2023-10-12 16:49 | Report Abuse

You are procrastinating to hype on this counter. Get a fxxking life , please .

Posted by joyvest > 2023-10-12 17:45 | Report Abuse

Stop misleading others with your ill-information and prejudiced perspectives....

Posted by Johnchew5 > 2023-10-12 18:18 |

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Posted by Chee Hoe Leong > 2023-10-12 20:51 | Report Abuse

Tomorrow Jaks 0.22 above
🤣🤣🤣

Posted by Johnchew5 > 2023-10-12 22:31 |

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Posted by Bruce_Wayne > 2023-10-12 23:46 | Report Abuse

Pha Lai Thermal Power Plant
Capacity: 1,040 MW
Units operational:
4 X 110 MW (Pha Lai I)
2 X 300 MW (Pha Lai II)

Pha Lai Thermal Power Financials Summary
FY 2022 (USD millions)
Revenue: 225.425M
EBITDA: 25.307M
Net Income: 21.237M
Todal Assets: 244.268M
Total Debt: 0

Market Cap (29th Sep 2023): 183M

Source:
https://www.investing.com/equities/pha-lai-thermal-power-jsc-financial-summary
https://pitchbook.com/profiles/company/164516-86#stock

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JAKS Hai Duong Power Plant
Capacity: 1200 MW
FY 2022 (USD millions)
Revenue:
EBITDA:
Net Income: 120M
Todal Assets:

Jaks Pacific Power Debt: USD1,051.50 million

Jaks Resources Berhad debt (30th June 2023): RM506.6M

.

Posted by Bruce_Wayne > 2023-10-12 23:47 | Report Abuse

Pha Lai Thermal Power is publicly listed and has a market cap of USD183M and does not have any debt

Pha Lai's capacity is 1,040MW and Jaks Hai Duong Power plant's capacity is 1200MW

If Jaks Hai Duong Power is listed, it's market cap should be USD211.15M ( 183 x 1200/1040)

However, Jaks Hai Duong Power's holding company, Jaks Pacific Power has a debt of USD1,051.5 million (excluding compounded interest)

Therefore Jaks Pacific Power has a negative value if the debt has to be paid off

If Jaks Pacific Power can pull off an AirAsia X stunt and request lenders to take a 100% haircut, then Jaks Pacific Power will be worth USD211.15M

Jaks Resources Berhad's 30% share of Jaks Pacific Power will be worth RM297M ( 211.15 x 0.3 x 4.7 )

However, Jaks Resources Berhad's total debt is RM506.6M while it's share of Jaks Pacific Power is worth only RM297M

Therefore Jaks Resources Berhad's share has a negative value.

Posted by Bruce_Wayne > 2023-10-13 00:14 | Report Abuse

Bulk of increase in PPE was RM138,970,022 addition to Capital WIP in 2022

What Capital WIP that costed RM138.97M?

Maybe remeasured cleaning equipment purchased from Serba?

Nothing is certain except death, taxes and impairment by Jaks


page 106
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=225023&name=EA_DS_ATTACHMENTS

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Posted by Sslee > 14 hours ago | Report Abuse

Non Current Assets :
PPE. 273,041,000

What kind of PPE jaks have?
Most likely will be like Serbadk impairment of PPE coming.

Posted by Johnchew5 > 2023-10-13 07:49 |

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Posted by Johnchew5 > 2023-10-13 08:16 | Report Abuse

> Accumulated Profit : 343,661,000. ( 1QR 324,951,000 ) ( Audited as on December 2022 is RM 310,874 ,000 )

Posted by joyvest > 2023-10-13 12:45 | Report Abuse

Despite of of massive Accumulated Profit : 343,661,000, Jaks has never rewarded its investors with dividend. It even has proposed DRP to avoid payment of dividend and use DRP as a lame excuse of reserving the fund for investments. What investments are they referring to ? Basically ,all are building castle in the air. No parties are keen to join with them for future developments given their pathetic shape.

No matter how the promoters to hype on jaks to win the argument swith gibberish or what , the investors are not gullible to be drawn and are more than capable of discerning what is nonsensical and otherwise.

Posted by Huangbk72 > 2023-10-13 15:10 | Report Abuse

Is is extremely hard for Jaks to pay any dividend. They are relying on external funding or funds not generated from operations to keep running.

Below is the company cash flow position for the last 5 years.

Breakdown TTM 12/30/2022 12/30/2021 12/30/2020 12/30/2019
Operating Cash Flow -62,823 -80,946 -31,394 20,943 211,653
Free Cash Flow -200,367 -221,265 -34,748 -11,052 211,569

Profit can easily be adjusted. Cash flow is difficult to adjust and it shows actual health of the company.

Posted by joyvest > 2023-10-13 17:18 | Report Abuse

No dividend payout in the past and the proposed DRP are the demonstration of cash stricken with which the company has been faced since inception .No wonder they have been relying on RR and RI to raise fund for their projects as a result of which the share capital has been ballooning to 2.5 b as at to date. External borrowing appears to be out of the question in view of its pathetic financial situtation.

The low gearing is basically a " disguise " due to the difficulty in raising external borrowing and enormous increase in share capital through RR and RI over the years since outset.

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