Posted by i3lurker > 2020-05-09 23:57 |

Post removed.Why?

Posted by VIN3133 > 2020-05-10 00:14 | Report Abuse

真金不需怕火, DK66
You will come out stronger & be respected !
Keep up your good work !
We, the layperson investors , who know nothing about the IPPs as claimed , are waiting patiently & anxiously for the counter calculations to yours for comparison .

Posted by OTB > 2020-05-10 00:15 |

Post removed.Why?

Posted by OTB > 2020-05-10 00:18 |

Post removed.Why?

Posted by OTB > 2020-05-10 00:23 |

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Posted by qqq33333333 > 2020-05-10 00:31 | Report Abuse

look at u.........OTB....

OTB's way.....Calculation
= 8,194 * 0.024 * 4.20 * 30% = RM 248 million.


not fierce meh?

like I say, cults and cultists very fierce.......all u need is believe.......

I know u inside out .....otb.....true or not?

Posted by OTB > 2020-05-10 00:33 |

Post removed.Why?

Posted by OTB > 2020-05-10 00:34 |

Post removed.Why?

Posted by i3lurker > 2020-05-10 00:36 |

Post removed.Why?

Posted by qqq33333333 > 2020-05-10 00:41 | Report Abuse

OTB... I also forgot to mention your famous stuff.....Final decision to buy is always yours. And if you lose money on this recommendation, nevermind, I will give u another stock tip, as soon as u renew your subscription..........

Posted by i3lurker > 2020-05-10 00:44 | Report Abuse

12% IRR => 26 sen per share contribution to Jaks Valuation

at 14% IRR => 30 sen [This is Public Bank figure, so looks like Public Bank is very Gung Ho Optimistic on Jaks indeed]

Posted by qqq33333333 > 2020-05-10 00:48 | Report Abuse

OTB...just curious...do u tell your victims to wait if things don't work out the way it is supposed to work out?

wait until kingdom come?

Posted by i3lurker > 2020-05-10 00:50 |

Post removed.Why?

Posted by qqq33333333 > 2020-05-10 00:51 | Report Abuse

productive?

productive is wagging gloves the last month......


this is only CSR.........corporate social responsibility/ charity.........

Posted by i3lurker > 2020-05-10 00:56 | Report Abuse

sslee

did you complete your homework and get 26 sen per share from the Power Plant contribution to Jaks share price?

If you get Public Bank's published 30 sen per share contribution, I will also give you a Pass Mark.

I already gave you your starting figures.

come on, dun be shy.....

Posted by DK66 > 2020-05-10 01:08 | Report Abuse

VIN3133, I m sure you won't get it from those who tried to discredit me.

------------------
Posted by VIN3133 > May 10, 2020 12:14 AM | Report Abuse

真金不需怕火, DK66
You will come out stronger & be respected !
Keep up your good work !
We, the layperson investors , who know nothing about the IPPs as claimed , are waiting patiently & anxiously for the counter calculations to yours for comparison .

Posted by i3lurker > 2020-05-10 01:09 |

Post removed.Why?

Posted by elbrutus > 2020-05-10 01:22 | Report Abuse

i3furker...talk so much this whole afternoon n evening n say my results show 26 to 32 cts ....talk only no use ...u want to help or save newbies like us then for goodness sake list out ur calculations here so that we too can analyse n judge whether DK66..OTB ...probability n others r taking us all for a ride but on d other hand if u cannot provide d necessary calculations of yours then i got these words for u ...SHUT D F..K up !!!

Posted by i3lurker > 2020-05-10 08:21 | Report Abuse

Price Target : 1.13

JAKS Resources’ (JAKS) 4QFY19 net profit, as expected, slowed down to RM17.8m (NM YoY, -28.7% QoQ) which was within our expectation but below consensus. In FY19, Group net profit came in at RM108.6m (>100% YoY) which constituted 96% and 90% of our and consensus full year estimates. The overall completion for its power plant in Vietnam is said to be at 93%, from 82% a quarter ago. We understand that the completion of its first unit which was initially thought to be by end-2019 is now postponed due to Covid-19. The commercial operation date (COD) is now targeted for 3QFY20, from 1HFY20 earlier. As such, we revise our FY20/FY21earnings downwards by -41%/-29%. We also change our valuation method from SOTP to RNAV as JAKS’ value is now mainly driven by its power plant, versus various business units previously. Maintain Neutral, with TP increased to RM1.13, from RM1.00 previously (pegged at 35% discount to RNAV) on lower completion risks of its power plant. All told, we are still wary over the various dilutive equity fund raisings done so far to meet its liquidity demands and the poor execution especially on its property business.

Power plant at 93% completion. EPC contract revenue and net profit, as expected, continued to slow down with the Group recognizing RM166.9m revenue and RM32.9m net profit in Q4FY19. For FY19. The Group recognized RM1.1bn (+62.3% YoY) and RM108.6m (+607.6% YoY) from the EPC contract. It still has RM338m remaining to be billed with the power plant expected to be completed by 2020.

Outstanding orderbook at RM618.6m. In the absence of new jobs, the Group’s outstanding orderbook dropped from RM847m to RM618.6m in 4QFY19. This is in line with the Group’s strategy to re-focus its resources on the Vietnam power plant project.
Property LAD to end in FY20. Property losses could drag longer but we understand that Management is still working to complete the Star Tower and the remaining 3 blocks by 1H2020. Unbilled sales as at 4QFY19 stood at RM130m. Occupancy at the Evolve Concept Mall dropped to 72% from 85% with committed tenants at 86%.

Source: PublicInvest Research - 28 Feb 2020

Posted by i3lurker > 2020-05-10 08:21 | Report Abuse

well well

elbrutus

No one wants to save you.
No one is obliged to give you free tuition.
You are on your own.

Public Bank had published their figures.

Go ask them for their calculations. Or better still sue them

Posted by alvin5588 > 2020-05-10 08:23 | Report Abuse

Must be steady stand above 1.10, otherwise sink..

Posted by Sslee > 2020-05-10 08:25 | Report Abuse

Good morning i3luker,
Why you and qqq3 were still in this forum till past mid-night?

https://klse.i3investor.com/servlets/ptres/54525.jsp
We also change our valuation method from SOTP to RNAV as JAKS’ value is now mainly driven by its power plant, versus various business units previously. Maintain Neutral, with TP increased to RM1.13, from RM1.00 previously (pegged at 35% discount to RNAV) on lower completion risks of its power plant. All told, we are still wary over the various dilutive equity fund raisings done so far to meet its liquidity demands and the poor execution especially on its property business.

https://klse.i3investor.com/servlets/ptres/53188.jsp
Maintain Neutral, with TP increased to RM1.00 (pegged lower 30% discount to SOTP) on lower completion risks of its power plant. That said, we are still wary over the various dilutive equity fund raisings done so far to meet its liquidity demands and the poor execution especially on its property business.

So PublicInvest Research TP RM1.00 pegged lower 30% discount to SOTP mean the full SOTP (Sum OF The Parts) is 1/0.3 = RM 3.33. Am I right?

Posted by Aseng > 2020-05-10 08:26 | Report Abuse

Good morning my good friends,

Stock: [JAKS]: JAKS RESOURCES BHD

Apr 29, 2020 12:09 PM | Report Abuse

brothers and sisters

DK66 had worked so hard to help us to see the value of a good buy

it is hard to meet a sifu in i3 who is willing to share with us so generously without charging us a single cent

we must work equally hard to protect him

DK66,

well done !
加油

Posted by Aseng > 2020-05-10 08:27 | Report Abuse

when the cat's away, the mice will play?

Posted by DK66 > 2020-05-10 08:47 | Report Abuse

Instead of showing calculation, he use public bank, the court, and call those trying to prove him wrong using IRR fraudster and liar. Good fear mongering tactics.

elbrutus, he is saying Jaks is expecting earnings of RM17m from JHDP.
(RM17m = EPS of RM0.026 x 10PE = RM0.26)

Vinh Tan 1 made RM651m and he expects JHDP to make only RM56m (RM17m/30%). JHDP is only expected to make less than 10% of Vinh Tan 1 !!!

Yes, he is not here to save you but to CON you !

Posted by i3lurker > 2020-05-10 08:50 | Report Abuse

sslee

Public Bank's report had been analysed by me
and Public Bank's TP is entirely duplicable 100%

its this way

Public Bank TP = 1.43

less 30% discount = - 0.43

so announced TP = RM1.00 per share

so its quite close to your proposed dumping price of RM1.50 per share

Posted by i3lurker > 2020-05-10 08:56 |

Post removed.Why?

Posted by i3lurker > 2020-05-10 09:05 | Report Abuse

sslee

also

(pegged at 35% discount to RNAV)

means RNAV = RM1.74

less 35% discount = - RM0.61

so Public Bank latest TP = 1.74 - 0.61 => RM1.13 per share

so the gross TP is between RM1.43 to RM1.74

so magically the average Public Bank Gross TP = RM1.59 per share
again quite close to your proposed dumping price of RM1.50

Posted by DK66 > 2020-05-10 09:06 | Report Abuse

Rookieinvestor, if you had followed the comments over the last 2 days, you should have realised the danger of blind following. You could be following the fear mongers. Their tactics are very good

Fear mongering works because people fear of losing money. They rather forego the opportunity than to risk their money.

Therefore, it is my strong advice that you must try to read not hear.

--------------------------------
Rookieinvestor DK66, most of us are only keen to know whether to buy , hold or sell and the target price.The majority of us who would not read the whole article if it is pages and pages long. Maybe there are a few who would but i believe majority of us would not continue reading after a first few paragraphs unless they are in this field or expertise. At the end of the day, you must understand the audience who are reading your article are not as knowlegable as you in this topic and only confuse themselves on whether to buy or not
09/05/2020 11:36 AM

Posted by i3lurker > 2020-05-10 09:12 | Report Abuse

sslee

thats the reason why Jaks cannot clear the RM1.40 plus resistance every time

Posted by i3lurker > 2020-05-10 09:23 |

Post removed.Why?

Posted by DK66 > 2020-05-10 09:25 | Report Abuse

elbrutus, save your tongue, it is not that he does not want to show his IRR calculation but because he can't. It is IMPOSSIBLE to derive a valuation of 26 cents for JHDP using 12% IRR. I repeat IMPOSSIBLE !

Posted by Aseng > 2020-05-10 09:54 | Report Abuse

DK66,

Do not hope some who are obviously showing some kinds of mental disorders to come out with any material facts to challenge your recent most liked article

It is not your job to convince them or anyone

Reason:

If one has no wisdom to tell whose calculation or valuation is more reasonable and reliable , then I) t is safe and better for him to put his money under his pillow. Why come here to tell us how desperate and frustrated whether to invest or not to invest.

You are too kind and too honest a man.
Not necessary for you to reply all the questions . Even God also do not do that. Sometimes remain silent can be the best answer.

When you are unhappy or lost in your direction
Aseng is always around to provide you some sincere advice from someone who are really care for you.

Posted by DK66 > 2020-05-10 10:05 | Report Abuse

Aseng, I can't bear to see people lying and creating fear especially by those who projected themselves to be experts. There are investors who don't like to read articles but prefer someone telling them buy or sell. These people are their target.

I strongly advice those less knowledgeable readers to demand calculations to prove their words. Don't worry if you can't understand the calculations. I WILL CHECK THE CALCULATIONS FOR YOU. That is my promise !

Posted by Sslee > 2020-05-10 10:06 | Report Abuse

Haha i3lurker,
Thank you for correcting my 30% value to 30% discount.

No worries about qqq3 just give him a German Engineering Bike and the whole of Ulu Klang for him to do his cycling he is already a very happy man.

Stay safe, stay healthy and stay happy.
You can keep some of this Chinese flu medicine for Covid-19

http://www.ce.cn/cysc/newmain/yc/jsxw/202005/06/t20200506_34848748.shtml
https://en.prnasia.com/releases/apac/lianhua-qingwen-receives-product-listing-approval-from-singapore-hsa-279421.shtml
莲花清瘟胶囊/颗粒
Lianhua Qingwen Capsule/Granule

Posted by Aseng > 2020-05-10 10:06 | Report Abuse

DK66,

You must know, not everyone is deserved to win.
Here go the saying
It is not my cup of tea
but it doesn't mean it is not a good tea
In a most simple language,
He is not the God chosen one for jaks.
If he is not the God chosen one, then even though you explain a 100 times,a 1000 times to him, a goldmine is still look like a shit hole to him. He can't tell why, he simply can not tell why. Very desperate, very frustrated.

What a pitiful guys.

Posted by i3lurker > 2020-05-10 10:14 | Report Abuse

sslee

you are welcome

in the short term Public Bank gross TP say 1.50 may apply, you might be able to sell Jaks at RM1.50 per share.

in the long run of 25 years
once utility at their 100% discretion of not approving O & M increase then Public Bank announced TP = 1.13 is very real.

You cannot run away from this TP = 1.13 per share.
Inflation compounding at 6% on 6% over 25 years is very horrible.
[Guess some people will ask for calculations on this inflation too. Ha ha ha]

Posted by Sslee > May 10, 2020 10:06 AM | Report Abuse
Haha i3lurker,
Thank you for correcting my 30% value to 30% discount.

Posted by Sslee > 2020-05-10 10:22 | Report Abuse

By the way a 120 million income per year for 25 year at 6% discount rate the
NPV= SUM{120/(1+d)^N} where D discount rate of 6 % and N=1-25
NPV=120 X 12.7834 =1,534 million

Posted by karimboss > 2020-05-10 10:25 | Report Abuse

look like this stock no more attractive

Posted by Ricky Kiat > 2020-05-10 10:28 | Report Abuse

http://www.apcc2.ceec.net.cn/art/2020/5/8/art_27681_2117760.html
越南海阳项目部开展机械保养实操培训

Posted by Aseng > 2020-05-10 10:28 | Report Abuse

Dk66,

I do not read their comments
I know what they are talking about even though I don't read.

Others than calling others as con man or spread the fear that the coming QR is bad, jaks local business, Andy is a bad guy and also the one I hate the most is the stupid IRR analysis which can be easily manipulated in whatever way you like.
Aseng dare to say loud and clear, without fear and favour, as a 100% honest and responsible forum participant, you recent peer comparative peer evaluation is most reliable.
So far no challenger had successfully proven it wrong or has doubt. I am very confident it is true and correct.

I repeat what I said earlier,

If you can not provide any material fact to prove DK66 calculation is wrong or has doubt, then the only RIGHT thing for you to do is BUY

Remember, we are here to make money, NOT kacau-kacau

Posted by i3lurker > 2020-05-10 10:34 | Report Abuse

sslee

if O & M

Year 0 = 100

then

Year 25 = 404.89

at 6% compounded and Utility says no as per PPA agreement

thats easier for people who need calculations for everything

I always argued with management over O & M inflation.
Sadly CEOs dun bother coz they will be retired when the project fails

Posted by Aseng > 2020-05-10 10:36 | Report Abuse

Probability is very wise

He had understood very fast what I am trying to tell him and finally had made a right decision to buy while the price is still low

Posted by i3lurker > 2020-05-10 10:43 | Report Abuse

sslee

I already know that have no idea on PPA and IPP too.

your IRR is fixed at 12% upon signing
so your incoming payments from utility is FIXED for 25 years
so your INCOME is NEVER adjusted for inflation

but your expenses suffer inflation
but your O & M is what you pay at market price

so after X years of 6% interest compounded annually you ask utility to recompute those payments allowed as O & M.
Answer is no
How does that affect you IRR?

Summary
Income not inflation adjusted
O&M expenses suffer inflation
fuel is passthrough mechanism

thats the PPA

Posted by Sslee > May 10, 2020 10:22 AM | Report Abuse
By the way a 120 million income per year for 25 year at 6% discount rate the
NPV= SUM{120/(1+d)^N} where D discount rate of 6 % and N=1-25
NPV=120 X 12.7834 =1,534 million

Posted by Aseng > 2020-05-10 10:44 | Report Abuse

Now is not even the first year and you talk about things 25 years later. If your boss willing to listen to you, he must be very free nothing to do, willing to learn something new.
Do not be so naive lah, not many boss know about IRR analysis if they have no accounting background. Talk to your boss about DK66 relative valuation, he will immediately pick up his phone and call Andy out for dinner.

Don't believe?
Ask OTB.

Posted by i3lurker > 2020-05-10 10:46 | Report Abuse

Income is FIXED and NOT inflation adjusted in PPA

O&M expenses suffer inflation

so your phrase there "income" is very misleading, you sound like DK66 now

ha ha ha

Posted by Sslee > May 10, 2020 10:22 AM | Report Abuse
By the way a 120 million income per year for 25 year at 6% discount rate the
NPV= SUM{120/(1+d)^N} where D discount rate of 6 % and N=1-25
NPV=120 X 12.7834 =1,534 million

Posted by Sslee > 2020-05-10 10:51 | Report Abuse

Haha i3lurker,
I started my first job in 1986 with starting pay of RM 1,000 and now how much is the pay for fresh engineering graduate?

How much you pay the electricity in year 1986 per KWhr and how much you pay now?

And how much a house will cost you in 1986 and how much it cost now?

Yes inflation applied to all but with different rate?

Posted by DK66 > 2020-05-10 10:55 | Report Abuse

Vietnam BOT PPA incorporates adjustments for inflation. Expenses which are USD denominated are adjusted base on US CPI, and expenses which are VDN denominated are adjusted base on Vietnam CPI.

Posted by Aseng > 2020-05-10 11:01 | Report Abuse

My good friends Ssee and i3lurker

Are you going to keep jaks for 25 years
Once the result is not far from what Dk66 said. The price will go as high as 5, 6 or even 10

You still dumb dumb hold for life?

You 2 great really too free lah...
Talk so much nobody know true or not true.

Posted by i3lurker > 2020-05-10 11:01 | Report Abuse

O & M falls outside the scope of PPA, inflation adjustment for O & M is purely at utility discretion

thats why a LARGE NUMBER of coal power plants in China are not even getting their payback on their initial investment, not even talking about IRR returns.

China inflation was huge, O & M in China rose dramatically but utility says no to inflation adjustment.

Posted by Sslee > May 10, 2020 10:51 AM | Report Abuse
Haha i3lurker,
I started my first job in 1986 with starting pay of RM 1,000 and now how much is the pay for fresh engineering graduate?

How much you pay the electricity in year 1986 per KWhr and how much you pay now?

And how much a house will cost you in 1986 and how much it cost now?

Yes inflation applied to all but with different rate?