Posted by DK > 2020-07-22 22:08 | Report Abuse

Please check your i3 messenger. A message will be sent after you were added.

Posted by firehawk > 2020-07-22 22:31 | Report Abuse

DK Dear Sslee,
Given the illustrated figures, if all Jaks-WB remain outstanding, its exercise price will be adjusted downwards to approx RM0.34 and the number of warrant will be adjusted upwards by approx 88% to ensure that warrant holders are not disadvantaged by the RI.
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This one I must give you a thumb up, however, my calculation is a few sen lower, will check back when I hv time.

Posted by firehawk > 2020-07-22 22:46 | Report Abuse

Conversion of warrant,
0.25+0.64 = 0.89 !
still incurs loss, refer to today closing prx.

I feel this is not easy to comprehend, although Newbieinshare making a mistake by assume the WB was issued free, at least he provided a reason and some suspect they want to push down the price ..... hope there are elites provide other enlightened reasons too!

Posted by Psng1215 > 2020-07-23 07:31 | Report Abuse

投资公司越南海阳燃煤电厂项目#1机组点火成功试运行

http://www.ceeic.ceec.net.cn//art/2020/7/22/art_9790_2218763.html

越南当地时间7月21日23:50，由中国能建投资公司投资建设的越南海阳2×60万千瓦燃煤电厂项目#11锅炉点火成功，标志着项目#1机组正式进入整套试运行阶段，为完成#1机组“336小时”试运及商业运行奠定了坚实基础。
　　为保证工程建设进度，如期履约完成BOT合同目标，中国能建投资公司组织项目参建各方积极克服新冠肺炎疫情带来的不利影响，严格落实中国能建和当地疫情防控要求，提早准备、周密部署，采取积极有效的防疫措施，全力做好现场管理、施工人员返场工作，得到了越南当地政府的高度肯定；同时，对于1号机组尾工尾项和试运缺陷，逐项明确责任，落实时序计划，先后克服重油点火、一机两炉等技术难题，保证1号机组节点目标，并合理组织和协调现场资源，保证2号机组安装工作顺利开展，做到防疫和施工“两手抓、两不误”，再一次用实际行动，履行了“世界能源、中国能建”的组织使命。 　　

据悉，越南海阳2×60万千瓦燃煤电厂项目位于越南北部海阳省京门市，是中国能建投资公司响应国家“一带一路”倡议，全面落实中国能建“走出去”战略，在越南投资的大型火电项目。该项目包括2台60万千瓦亚临界发电机组，采用“一机两炉”模式，配置4台30万千瓦循环流化床锅炉，全部建成后，预计年发电量80亿千瓦时，将有效带动越南电力产业升级，助力当地经济发展。



At 23:50 on July 21st, Vietnam local time, the Haiyang 2×600MW coal-fired power plant project #11 in Vietnam, which was invested and constructed by China Energy Construction Investment Corporation, was successfully ignited, marking that the project #1 unit officially entered the complete trial operation stage. It laid a solid foundation for the completion of the "336 hours" trial operation and commercial operation of #1 unit.
In order to ensure the progress of the project and fulfill the BOT contract targets as scheduled, the China Energy Construction Investment Corporation organized all parties involved in the project to actively overcome the adverse effects of the new crown pneumonia epidemic, strictly implement the requirements of Energy China and the local epidemic prevention and control, and prepare in advance, Careful deployment, active and effective epidemic prevention measures, full on-site management, and return of construction personnel to the site have been highly affirmed by the local government of Vietnam; at the same time, the responsibilities for the final items and the defects of the trial operation of Unit 1 are clearly defined one by one. , Implement the timing plan, successively overcome technical difficulties such as heavy oil ignition, one machine and two furnaces, ensure the node target of Unit 1 and rationally organize and coordinate on-site resources to ensure the smooth implementation of the installation of Unit 2 and achieve both epidemic prevention and construction. "Both are not wrong", once again with practical actions, fulfill the organizational mission of "World Energy, China Energy".　　

It is reported that the 2×600,000-kilowatt coal-fired power plant project in Hai Duong, Vietnam, is located in Gyeongmen City, Hai Duong Province, northern Vietnam. Investment in large-scale thermal power projects. The project includes two 600,000-kilowatt subcritical power generating units, adopting the "one machine, two boilers" model, equipped with four 300,000-kilowatt circulating fluidized bed boilers. After all are completed, the annual power generation is expected to be 8 billion kWh, which will effectively drive Vietnam’s power industry has been upgraded to boost local economic development.

direct translation from google translate

Posted by reloy > 2020-07-23 11:06 | Report Abuse

This time both sifu KYY and OTB kena played out by conman AA.

Posted by reloy > 2020-07-23 11:10 | Report Abuse

OTB followers lose a lot of money on this Jaks, maybe make back on his glove recommendation.

Posted by alvinlow2812 > 2020-07-23 11:28 | Report Abuse

Hi DK please add me into your group, appreciate it thank you :)

Posted by sniper123 > 2020-07-23 11:35 | Report Abuse

hi sslee,
if you have finalised the contents of your letter addressed to SC and bursa please feel free to email by today bcoz the Jaks mgmt has submitted their rights proposal to bursa on 21 july 2020. Tq

Posted by Sslee > 2020-07-23 12:12 | Report Abuse

OK In this case will send today

Posted by Sslee > 2020-07-23 12:29 | Report Abuse

Dear sniper123,
It is done
https://klse.i3investor.com/blogs/Sslee_blog/2020-07-20-story-h1510636843-JAKs_My_draft_official_complaint_to_SC_and_Bursa_to_reject_the_RI.jsp

Posted by investoo > 2020-07-23 12:44 | Report Abuse

7. During the exclusive interview with Nanyang newspaper on 11 July 2020:
Andy Ang pointed out that the company's net gearing ratio as of the end of the fiscal year 2019 is still at a low level of about 0.28. "This gives the company the ability to raise funds through borrowings for future business acquisitions."

If the company can raise funds through borrowing, why proposed rights issues at this covid-19 pandemic time?

Posted by sniper123 > 2020-07-23 14:23 | Report Abuse

thks sslee, hope to meet up wit u during the forthcoming AGM/EGM where I'll be posing my enquiries.

Posted by IronShirt > 2020-07-23 14:38 | Report Abuse

maxis 2Qr results out, april / June. Not impacted by mco. Jaks construction Biz should return
back to normal by April

Posted by iiQ_Qii > 2020-07-23 15:02 | Report Abuse

Hi DK , can add me to your private group. Thanks!

Posted by DK > 2020-07-23 15:35 | Report Abuse

Please check your i3 messenger. A message will be sent after you were added.

Posted by Luminate > 2020-07-23 15:55 | Report Abuse

Hi DK, can add me to your private group? Thank you.

Posted by cckiong > 2020-07-23 18:48 | Report Abuse

Kudos to sslee for safeguarding the interest of the minority. At least we should tell the world that this kind of CEO and his hat tricks are not tolerated by minority shareholders.

Posted by sense maker > 2020-07-23 20:26 | Report Abuse

Lessons repeat themselves until they are understood.

Posted by longranger > 2020-07-23 21:09 | Report Abuse

30% is minority. jak has no say in operation or managemt. such as divident payout. you wont see divident payout for first few year in this JV and jak will continue to face cashflow problem for its malaysia operation. mostlikely will only "sit in" to few board director meeting few time a year thats it. think carefully. what ever profit in the power plant will remain on paper for jaks. i worked in 30:70 JV ...local:german.

Posted by longranger > 2020-07-23 21:14 | Report Abuse

worst scenario, board meeting also can be held in hotel, jaks dont even have chace to visit the plant later..possible? it happened to the JV i worked for. if this happen to german what to you think about chinese?

Posted by longranger > 2020-07-23 21:17 | Report Abuse

local partner surrendered finally cash out with low return after 15years.

Posted by abang_misai > 2020-07-23 22:21 | Report Abuse

This jenjarum fellow ceo will eat you alive

Posted by firehawk > 2020-07-23 23:39 | Report Abuse

Agree that 30% profit is only acct entry, until dividend is paid. And paying dividend needs the Chinese partner nod, when will it be realized?

But now, JAKS is in severe cash /working capital constrain. It can be observed when the issuer fixed the issuing price at a unbelievable low @0.225, this "forced" the shareholders to subscribe, otherwise will face huge disadvantage! Revised of RI is very rare, but JAKS did it within 2 months. Is it so compelling?

This suspicion was confirmed when a director converted the WB to ordinary shares.

The director is the proxy of big boss. If he acts for himself, would he converted the WB to mother shares? He sell the WB, he can directly get 51sen. He exercises the conversion the pay 64sen and get back 81sen, an earning of 17 sen only (not including the WB cost, otherwise would be a loss). Why should he performs conversion?

The conversion has only one purpose, to inject cash to the company! (This is not something new, as far as I know, although very rare, some companies did this.) The company is the clear beneficial of the conversion! Converted 4m WB, injected 2.56m to the company account! May be now u realized why the same director always selling his holding! His act as a proxy of same purpose .......

Many have to be thought of .... the further deconcentration of share holding (this is no good), the 421m of debt, the waiting period of Viet power stations really pay dividend to JAKS ..... how long the time to pass the tunnel before seeing the light?

(This is the writer view, it could be not true, up to readers want to take it or not.)

Posted by firehawk > 2020-07-23 23:45 | Report Abuse

From now until the completion of RI, it takes at least 4 month .... so within this period .......

Posted by DK > 2020-07-23 23:49 | Report Abuse

In Mong Duong II case, AES owns a 51% stake while POSCO Power subsidiary PSC Energy Global and Stable Investment have a respective stake 30% and 19% in the project.

There is shareholder agreement governing numerous reserve matters which require unanimous board decision to overturn. Full distribution of idle cash is one of the reserve matter, changing of board composition is also a reserve matter among many others. The biggest shareholder will take the CEO position while the next biggest will have the CFO post.

Mong Duong II has been paying dividend every year since commercial operation.

Jaks will eventually have 2 out of 5 board seats in both JHDP and JPP.

Therefore, there is no risk of CPECC refusing to pay dividend.

Posted by firehawk > 2020-07-23 23:56 | Report Abuse

So, when could be the earliest 1st. div. pay after the COD?

Posted by DK > 2020-07-24 00:03 | Report Abuse

12 months after COD

Posted by firehawk > 2020-07-24 00:07 | Report Abuse

Thanks! Hope it will declare dividend in it 1st. financial year !

Posted by Underhand > 2020-07-24 08:23 | Report Abuse

No more 1 above?

Posted by JJchan > 2020-07-24 10:07 | Report Abuse

who want to keep profit in Communist Vietnam? 99% declared Dividend will be repatriated. Even
in Communist China, most foreign Co. profit are recycled back to HongKong. Most of my Co.
profit are recycled back thru Bank LC in HongKong

Posted by firehawk > 2020-07-24 10:21 | Report Abuse

Although the company is cash /operation expenses constrain, but it doesn't directly affect the share price .... because big boss is still very rich, he can manage the situation, so, don't worry too much. (Boss also can manipulate the share price according to his willingness, is a very capable boss)

Posted by Philip ( buy what you understand) > 2020-07-24 13:41 | Report Abuse

What is the risk of JAKS not paying a dividend at all but continue to expand with multiple projects in vietnam instead?

>>>>>>

Jaks will eventually have 2 out of 5 board seats in both JHDP and JPP.

Therefore, there is no risk of CPECC refusing to pay dividend.
23/07/2020 11:49 PM

Posted by Zuliana > 2020-07-24 14:23 | Report Abuse

Wah, so many Sifu(s) here.
Hello Good day to all my Sifu(s) here.

Posted by keechungwong54 > 2020-07-24 14:28 | Report Abuse

Once right issue date is fixed there's another big drop in price. Believe or not is up to you.

Posted by keechungwong54 > 2020-07-24 14:33 | Report Abuse

When right issue is completed which can be sold another big drop will happen. How do you feel?
Believe or not is yours.

Posted by keechungwong54 > 2020-07-24 14:42 | Report Abuse

Even presbhd right issue is better than Jaks.
Presbhd right issue is rm0.20 but it's shares market price is RM.495 is considered reasonable but Jaks right issue price is RM.225 and at the time it's shares market price is too.945. Does it mean that Jaks is even worse than presbhd? My dearest investors you yourself think twice.

Posted by keechungwong54 > 2020-07-24 14:51 | Report Abuse

Or Jaks cash flow is seriously shortage so that they are very much more than too hungry and thirsty in cash so that they can issue right at such a low price in order to lure investors to subscribe it???

Posted by keechungwong54 > 2020-07-24 14:52 | Report Abuse

My dearest investors think twice, thrice or more and more before taking any action.

Posted by Tiger66 > 2020-07-24 15:32 | Report Abuse

Jaks can bring the 300 millions earning from pp, after dilution 17 cents EPS you guess what will be the share price?

Posted by firehawk > 2020-07-24 16:40 | Report Abuse

Philip ( buy what you understand) , Do u find this 2 sentences logic? frankly, I myself can;t understand, since u rise it, just ask ur opinion.

>>>>>>

Jaks will eventually have 2 out of 5 board seats in both JHDP and JPP.

Therefore, there is no risk of CPECC refusing to pay dividend.

Posted by DK > 2020-07-24 18:25 | Report Abuse

"unanimous board decision"

----------------------------------
In Mong Duong II case, AES owns a 51% stake while POSCO Power subsidiary PSC Energy Global and Stable Investment have a respective stake 30% and 19% in the project.

There is shareholder agreement governing numerous reserve matters which require unanimous board decision to overturn. Full distribution of idle cash is one of the reserve matters, changing of board composition is also a reserve matter among many others. The biggest shareholder will take the CEO position while the next biggest will have the CFO post.

Mong Duong II has been paying dividend every year since commercial operation.

Jaks will eventually have 2 out of 5 board seats in both JHDP and JPP.

Therefore, there is no risk of CPECC refusing to pay dividend.

------------------------------------
firehawk Philip ( buy what you understand) , Do u find this 2 sentences logic? frankly, I myself can;t understand, since u rise it, just ask ur opinion.

>>>>>>

Jaks will eventually have 2 out of 5 board seats in both JHDP and JPP.

Therefore, there is no risk of CPECC refusing to pay dividend.
24/07/2020 4:40 PM

Posted by sense maker > 2020-07-24 18:58 | Report Abuse

To asses if Jaks is gonna pay dividend in future, you look at its past 10-15 years records especially during good or satisfactory quarters, as well as whether it formalises any official dividend policy. These, together with the yearly remuneration of CEO, are critical factors in assessing how the controlling shareholder treats minority shareholders.

Posted by abang_misai > 2020-07-24 19:01 | Report Abuse

Are you sure? Company’s decision is to be based on votes from the majority. Look like you do not know this.

Jaks will eventually have 2 out of 5 board seats in both JHDP and JPP.

Therefore, there is no risk of CPECC refusing to pay dividend.

Posted by DK > 2020-07-24 19:32 | Report Abuse

Those who do not believe there is a shareholder agreement between Jaks and CPECC may ask the directors during the AGM

Posted by abang_misai > 2020-07-24 19:50 | Report Abuse

I attended AGM twice. CEO will beat around the bushes when questions posed to him. You ask him “how are you?” He will answer “I’m 45 years old”.

Posted by cckiong > 2020-07-24 19:59 | Report Abuse

Luckily I sold it earlier or else I would be feeling devastated looking at the share price now.

Posted by firehawk > 2020-07-25 10:21 | Report Abuse

DK "unanimous board decision"
-----------------------------------------------

thanks forther clarification.

let's it be more precise, i believe the decision is not for futures dividend payout, When to pay, How much to pay, they still need following meetings to decide!

Posted by firehawk > 2020-07-25 10:58 | Report Abuse

At the prudent side ..... even if the Viet power plants pay dividend, it doesn't mean is pay to JAKS shareholders. It is very reasonable for big boss to say Viet has good opportunities, and retain the profit for company future development in Viet ......

The future's not ours to see, is up to individual expectation, optimistic is the other choice .....

Posted by newbie5354_ > 2020-07-25 13:27 | Report Abuse

Why nobody in i3 read the Star today?

Posted by DK > 2020-07-25 17:05 | Report Abuse

Normally reserve matters listed in the shareholder agreement are more for protection of minority interest. Dividend payment, board composition, executive positions are among the most important issues. Therefore, these matters are certainly among the reserve matters which must be adhered to by the company unless overturned by unanimous board decision. If everything leave to board decision then no point having shareholder agreement. Minorities are then at the mercy of the controlling shareholders. This will not happen for international cooperation.