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

Buying signal starting to show?

Posted by gemfinder > 2020-08-07 22:09 |

Post removed.Why?

Posted by cckiong > 2020-08-07 22:34 | Report Abuse

Those in the private room ...wake up and see the truth. How much money have u lost in this counter! How much more u want to lose

Posted by johnnytee > 2020-08-08 08:51 | Report Abuse

Hi DK, please include me. Thanks

Posted by abang_misai > 2020-08-08 08:55 | Report Abuse

Niama. Sudah kena sangkut

Posted by DK > 2020-08-08 08:56 | Report Abuse

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

Posted by Mrinvest0r > 2020-08-08 10:08 | Report Abuse

Hi DK, please add me into your private group

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

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

Posted by stockraider > 2020-08-08 11:25 | Report Abuse

Sell b4 too late loh...!

This JAKS is a conman management loh...!!

Switch to insas safer loh...!!

Posted by Psng1215 > 2020-08-08 11:27 | Report Abuse

当地时间8月7日22时33分，公司承建的“一带一路”重点示范项目——越南海阳2台600兆瓦燃煤电厂项目1号机组首次并网一次成功，机组各系统运行平稳、指标优良。

Posted by Psng1215 > 2020-08-08 11:45 | Report Abuse

http://www.aepc1.ceec.net.cn/art/2020/8/8/art_14612_2239804.html

Posted by johngoh3 > 2020-08-08 11:52 | Report Abuse

DK, Kindly include me in your private chat group.

Posted by signn > 2020-08-08 13:14 | Report Abuse

now we know why jaks want bigger cash call. to pay off the court case damages

Posted by signn > 2020-08-08 13:14 | Report Abuse

almost 200mil wow

Posted by signn > 2020-08-08 13:15 | Report Abuse

with huge increase in shares coming from the rights, jaks shares will jump to about 1.6bil shares or more. share price will adjust way down to below 50c.

Posted by tristan55 > 2020-08-08 13:22 | Report Abuse

HI DK pls add me to your private group. thks

Posted by huahtai98 > 2020-08-08 13:22 | Report Abuse

Jaks Vietnam power plant COD unit 1.....most likely 24th Aug 2020

Posted by signn > 2020-08-08 13:24 | Report Abuse

even if the power plant makes good profits, i believe only to buy after rights fone, can get cheap price

Posted by huahtai98 > 2020-08-08 13:24 | Report Abuse

If you wanna continue selling yr shares.....well.....that's yr wish

Posted by signn > 2020-08-08 13:24 | Report Abuse

i will have a look after rights done

Posted by 5354_ > 2020-08-08 13:33 | Report Abuse

Star Media Group awarded late payment interest

KUALA LUMPUR: The High Court here sided with Star Media Group Bhd’s application for summary relief from a construction company regarding a dispute for a mixed development project in Section 13, Petaling Jaya.

Star Media’s application against Jaks Resources Bhd (JRB) was on whether its defence was moot, having been raised, argued and answered by a different High Court.

In her decision yesterday, Justice Wong Chee Lin awarded Star Media RM50.542mil in damages.

The damages were derived from the late payment interest on the Balance Purchase Price of RM134.5mil, at a rate of 8% per annum, over the period from Oct 25, 2015 to July 6, 2020.


The late payment interest would continue running from July 6 until JRB completes the obligations of its subsidiary Jaks Island Circle Sdn Bhd (JIC) under the Sales and Purchase Agreement.

Star Media was represented by Wong Guo Bin while JRB was represented by Datuk K. Kirubakaran.

The previous High Court ruling on Jan 12, 2018 dismissed JIC’s applications to prevent Star Media from calling on bank guarantees from Ambank and United Overseas Bank for a sum of RM50mil.

On Nov 15 last year, the Court of Appeal upheld the High Court’s decision in favour of Star Media and ordered the release of RM50mil in bank guarantees to the media group.

On Jan 7, 2019, JIC failed to get leave to appeal from the Federal Court against the previous High Court and Court of Appeal orders which were in favour of Star Media.

Following the failed attempts, Star Media received RM50mil on Jan 9, 2019.

https://www.thestar.com.my/news/nation/2020/08/08/star-media-group-awarded-late-payment-interest

Posted by 5354_ > 2020-08-08 13:33 | Report Abuse

RI purpose is to pay Star Media?

Posted by HuatRex > 2020-08-08 15:30 | Report Abuse

Sohai DK stop writing blog already? Hahaha

Posted by HuatRex > 2020-08-08 15:31 | Report Abuse

He also hardworking creating private group just to avoid those water fish to sell and pish price down further. Pity those water fish. Only newbie will join his skl group

Posted by ronnie2u > 2020-08-08 18:42 | Report Abuse

@DK can add me to your private chat group ?

Posted by DK > 2020-08-08 19:54 | Report Abuse

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

Posted by Jarklp > 2020-08-08 20:52 | Report Abuse

There are many views here on how to value JAKS, but everyone seems to agree that ALP is a crook and a useless leader.. LOL

Posted by DK > 2020-08-09 10:20 | Report Abuse

https://klse.i3investor.com/blogs/Jaks%20resources/2020-08-09-story-h1511613399-Jaks_Resources_Power_Plant_Unit_1_to_begin_Trial_Run.jsp

Posted by Chuckie1 > 2020-08-09 15:06 | Report Abuse

In opinion, the financials of JAKS is very weak to the point of the need to question the auditor in the upcoming EGM on the going concern status of the company. The specifics are follow:

In the quarter ended 31 March 2020, Jaks suffered a negative cashflow of RM43.574 mil, and further financing obligations, leading to a depletion of RM55.140 mil cash, leaving a balance of RM 25.141 mil as of 31 March 2020. I do not have the specifics interests and principal payments for Jaks in Q2 and Q3 but we can infer based on Q1 2020 total financing obligations of RM14 mil. If we simplistically assume the same cash depletion in Q2 2020 purely from the RM 14 mil in debt obligations, cash holding will be down to RM11 mil which in my opinion is not be enough to sustain the company's holding company expenses and debt obligations in Q3 2020. Of course this estimate completely ignore any operating losses which could diminish the cash holdings.

One can argue and hold of the belief that the company is UNLIKELY TO DEFAULT ON ITS FINANCIAL OBLIGATIONS as there is a possibility of debt restructuring with the banks etc. BUT MY SENSE IS THAT THE MANAGEMENT OF JAKS IS VERY WEAK IN CORPORATE FINANCING (ON TOP OF OPERATIONAL EXECUTION) and NOT COMPETENT enough to pre-empt AND MORE IMPORTANTLY FULLY ADDRESS this IMPENDING cashflow crunch.

YES, THE upcoming issue could hold up the company again. BUT THE POINT THAT I AM TRYING TO PUSH OUT HERE IS THAT THE EXTREMELY WEAK FINANCIALS OF JAK IS COMPLETELY NOT DISSEMINATE AND UNDERSTOOD BY THE SHAREHOLDERS, AND THE BOARD AND MANAGEMENT OF JAKS ARE NOT LIVING UP TO THEIR RESPONSIBILITY TO ENSURE THE GOING CONCERN OF THE COMPANY. SO, SHAREHOLDERS, PLEASE BE AWARE... SERIOUSLY.

Posted by cckiong > 2020-08-09 15:24 | Report Abuse

Well said. Chuckie

Posted by Chuckie1 > 2020-08-09 15:37 | Report Abuse

In the upcoming EGM, one should question the auditor on the its decision of not recording the negative financial effect of the legal suit (which is set for hearing on 19 August) by STAR Media against JAKS in the contingent liabilities. Of course they will response by stating the legal opinion of the legal firm representing JAK of the good chances of winning the case, but going by past precedent in which the company and lawyer had lost in the RM50 mil legal suit with STAR MEDIA, would it not a fair argument that the auditor did not, and again this time repeating it, living up to its responsibility of informing the shareholders of a fair and objective representative of the company's financial health !

Posted by DK > 2020-08-09 15:56 | Report Abuse

MATERIAL LITIGATION JAKS Resources Berhad ("JRB" or the "Company") Claim against Star Media Group Berhad ("STAR")

Type Announcement
Subject MATERIAL LITIGATION
Description JAKS Resources Berhad ("JRB" or the "Company") Claim against Star Media Group Berhad ("STAR")

Further to the announcement dated 14 May 2020, the Board of Directors of the Company wishes to announce that at the Case Management on 3 August 2020, the Court had decided that the hearing of the application by STAR be fixed on 19 August 2020.

The Company will make further announcement on the developments of the above matter as and when necessary.

This announcement is dated 4 August 2020.

-----------------------------------------------------
Chuckie1 In the upcoming EGM, one should question the auditor on the its decision of not recording the negative financial effect of the legal suit (which is set for hearing on 19 August) by STAR Media against JAKS in the contingent liabilities. Of course they will response by stating the legal opinion of the legal firm representing JAK of the good chances of winning the case, but going by past precedent in which the company and lawyer had lost in the RM50 mil legal suit with STAR MEDIA, would it not a fair argument that the auditor did not, and again this time repeating it, living up to its responsibility of informing the shareholders of a fair and objective representative of the company's financial health !

Posted by stockraider > 2020-08-09 15:56 | Report Abuse

Do not waste time sell b4 AGM loh...!!

Jaks is dead duck loh...!!

Switch to Insas b4 too late loh...!!

Posted by DK > 2020-08-09 16:14 | Report Abuse

The hearing on 19 August 2020 is on the following .....

--------------------------

The Board of Directors of Jaks Resources Berhad (“JRB”) or the “Company”) wishes to inform that the Company and its subsidiary JAKS Island Circle Sdn. Bhd. (“JIC”) has on 30 May 2019 filed a claim against STAR at the Kuala Lumpur High Court for breach of the Sale and Purchase Agreement dated 19 August 2011 (“SPA”) entered into between STAR and JIC.

The Company and JIC are claiming against STAR the following reliefs:-

1. a declaration that the Completion Period for JIC to deliver STAR’s entitlement under the SPA is on 20 June 2020;
2. a declaration that STAR has breached the SPA;
3. a declaration that STAR is unjustly enriched;
4. the sum of RM248,242,987.62 to be paid to JIC as liquidated and ascertained damages;
5. the sum of RM297,035,481.00 to be paid to JRB as loss of proceeds from corporate fund raising exercises;
6. the sum of RM50,000,000-00 together with all interests and all related costs incurred thereto pursuant to the Bank Guarantees that is to be refunded and/or returned to JIC within 7 days from the date of the Court Order; and
7. damages.
The Company will make further announcement on the developments of the above matter as and when necessary.

This announcement is dated 31 May 2019.

Posted by huat_ah > 2020-08-09 18:08 | Report Abuse

@DK It's not auditor's fault. It's JAKS' legal's team fault. Auditors only rely on legal team's judgement whether to put as provision or contingent liability.

Posted by SomaCruz89 > 2020-08-09 18:58 | Report Abuse

Just a few bumpy roads before reaching end of the tunnel. Never doubt my choice to invest in JAKS. Will fully subscribe RI shares.

Posted by SejukSam > 2020-08-09 19:27 | Report Abuse

for existing shareholders, you will have NO choice but to subscribe to the rights. u will need to cough up extra cash to maintain your shares from a big incoming dilution.

for new punters, only buy after rights are issued.

stock price will be cheaper then

Posted by Chuckie1 > 2020-08-09 21:10 | Report Abuse

There seems to be a lot of confusion over the subscription of Jaks via JPP in the power plant. Some shareholders were under the impression that the subscriptions have been fully provided in earlier rights issue and also arising from profits from the EPC contract (gosh !). As it turned out, JAK have not fully covered the equity injection, and the bulk of the latest rights will be used to meet this aim. Based on the disclosure on the rights circular, JAK has only subscribed 65% of its equity obligation in the power project, leaving another 35% or USD 49.14 million (RM 211 mil) to go. Of the USD 49.14 mil, the rights issue will cover USD 30 mil; however, the circular mentioned that they had earlier covered USD 3 mil, thus net uncovered at USD 16.14 mil or about RM70 mil. So, how on earth is JAK going to fund these balance USD 16.1 mil or RM 70 mil ? Why dont some poor foresaken shareholder please ask the Board in the upcoming EGM. The circular did however highlight "JPP may finance the remaining Project cost subsequent to the Subscription via its internally-generated funds.". For me, given how crucial the issue is, clarity and certainty to the shareholders are seriously required.

Posted by Chuckie1 > 2020-08-09 21:19 | Report Abuse

If not mistaken, there is also great confusion over the execution of JAK's call option to raise its shareholding in the power plant from 30% to 40%. Lets not mention these additional 10% stake, the underlying 30% has not been fully subscribed what more of the additional 10% fom the call option. It seems that shareholders do not realise that the purchase of these additonal 10% stake will cost USD 46.7125 mil or about RM200 mil. Given JAK's current financials, it is close to impossible for it to exercise the 10% option but some shareholders are also expecting dividend income from a 40% stake in the power plant. Fat Chance !!

Posted by Chuckie1 > 2020-08-09 21:31 | Report Abuse

There are a lot of expectations from dividend payout from the power plants in the short term given the fact that assets is currently undergoing commercial test runs. I have even read of comments of " potential cash inflow of approximately RM300mil per year into Jaks is expected from the power plant operation. If the management is to give out one third or RM100mil to Jaks shareholders as dividend". To be frank, I have no clarity on this issue at all. However, based on my experiences with project financing, the cash inflow in the first 5 years are predominantly skewed heavily towards paying down the debt (why would debt holders which are paid lower returns allow equity holders to be paid up earlier than debt holders, its simple risk-return balancing !). In short, one should not expect any major free cashflow to equity holders i.e. JAKs from the power plant in the, at least in the first few years of operations. What boggles me is that given such a critical cashflow to JAKS is to its financial survival, this issue still has not been clarified by the poor shareholders of this company. Perhaps it is time this issue is presented to the Board of JAKS in the upcoming EGM, dont you think?

Posted by Chuckie1 > 2020-08-09 21:58 | Report Abuse

In the Rights Issue circular, it was highlighted that under the Maximum Scenario of funds raising, there will be a total of 59.0 mil of new shares to be issued under the LTIP programme to the management of the company !! Please, can someone please clarify for me, are these shares, please tell me that I am wrong, are issued WITHOUT any considerations (ie WITHOUT ANY PAYMENTS) to the CEO and Executive Directors and managemnets !! If in the event that I am wrong, and these shares are indeed going to be issued FREE, there are absolutely NOTHING the shareholders can do ?

Posted by DK > 2020-08-09 22:07 | Report Abuse

Chuckie1, it seems that you just joined i3 today and Jaks is the first stock that caught your attention. If you are truly interested in Jaks, maybe you should do some research on mong duong II on its dividend distributions after COD. It also won't do you any good to pre-conclude on Jaks cash flows and its ability to take up the 10% option.

It seems that Jaks will not make it to your investment list and I do not intend to change your opinion about Jaks.

Anyway, thanks for sharing your thoughts.

Posted by abang_misai > 2020-08-09 22:25 | Report Abuse

Good luck DK. I'm in same boat with you. I will hold until COD.

Posted by DK > 2020-08-09 22:30 | Report Abuse

Abang_misai, since we are on the same boat, let me share the link below to calm your fear on the recent court ruling impact on Jaks. Please refer to point 71.

http://ejudgment.kehakiman.gov.my/ks_builtin/file_dispatcher_pub.php?id=7551&key=e76514bd93a8b2e94103adc2c50952ba

Posted by Chuckie1 > 2020-08-09 23:45 | Report Abuse

In 2019, the renumeration of the CEO of JAKS was a total of RM2.055 mil including EPF and Socso, or an average salary of about RM171,327 per month, excluding the RM12.834 mil in LTIP, bringing in a grand total of RM14.925 mil. Are the shareholders able to accept such compensation package in the light of the negative shareholders' creation (in the light of continues issuance of new shares at continuously lower issue price..

Posted by Chuckie1 > 2020-08-10 00:32 | Report Abuse

Hello DK, thanks for your message. If I may response to your 2 comments, typed in BOLD.

1. If you are truly interested in Jaks, maybe you should do some research on mong duong II on its dividend distributions after COD.

ONE CAN AND SHOULD ONLY MAKE CONCLUSIVE DECISIONS BASED ON PUBLIC INFORMATION PROVIDED IN OFFICIAL DOCUMENT. ONE SHOULD NOT INDULGE IN PRIVATE CONVERSATION AND SHARING OF NON PRIVATE INFO FROM THE MANAGEMENT OF THE COMPANY. I HAVE READ OF STATEMENTS OF DIVIDEND OR (FREE) CASHFLOW FROM THE POWER PLANT OF USD XXX MILIONS PER YEAR ETC BUT THESE STATEMENTS HAVE NOT BEEN OFFICIALLY CONFIRMED BY THE MANAGEMENT. IT WILL BE GREAT IF THERE ARE SOME DEPENDABLE REPORTS AND HAVE BEEN CONFIRMED BY THE MANAGEMENT OF THE DIVIDEND OR FREE CASHFLOW POLICY OF THE POWER PLANT. IF YOU POSSESS SUCH DOCUMENT, I WOULD LOVE TO READ THEM, AND WILL CERTAINLY COME FORWARD IN SHARING THE INSIGHTS WITH THE INTERESTED STAKEHOLDERS. I HAVE READ THE CIRCULAR ISSUED BY AMBANK ON 28 AUG 2015 BUT THERE WERE NO MENTION OF DIVIDEND POLICY, DEBT COVER RATIO ETC WHICH CAN LEAD TO SOME SENSE OF THE EXTENT OF THE FREE CASHFLOW PAYOUT FROM THE PROJECT. AS I HAD MENTIONED EARLIER, ITS JUST MY PAST EXPERIENCE WITH PROJECT FINANCING THAT IT IS EXTREMELY RARE FOR DEBTHOLDERS TO ALLOW DIVIDEND OR FREE CASHFLOW TO EQUITY HOLDERS TO BE PAID UP IN THE INITIAL YEARS OF START UP OF PROJECTS (3 TO 5 YEARS) AS DEBT HOLDERS WOULD REQUIRED SUBSTANTIAL PARE DOWN OF DEBTS IN THE INITIAL YEARS TO REDUCE THEIR HUGE INVESTMENT (IN THE CASE OF JPP, DEBT HOLDERS CONTRIBUTE 75% OF THE INVESTMENT CAPITAL OF THE PROJECT.)

2. It also won't do you any good to pre-conclude on Jaks cash flows and its ability to take up the 10% option.

SIMILAR TO THE MY THOUGHTS GIVEN ABOVE, I HAVE READ OF THE 10% OPTION TO BE TAKEN UP FROM PAST RIGHTS ISSUE, CASHFLOW FROM THE POWER PLANT AND EPCC CONTRACT PROFITS. AGAIN, THESE KIND OF CONCLUSION IN MY OPINION ARE HEARSAY. ANYHOW, PLEASE SHARE YOUR INSIGHTS HOPEFULLY WITH SOME FORM OF EVIDENCE OF THE COMPANY'S AVENUE TO FINANCE THE 10% OPTION WHICH IN THE RIGHTS ISSUE CIRCULAR, HAD CONFIRMED WILL COST RM200 MIL.

LOOKING FORWARD TO YOUR INSIGHTS. REGARDS. CHUCKIE

Posted by Karlos > 2020-08-10 07:34 | Report Abuse

The issues and concerns raised byChuckie are valid and relevant to Jaks interest in the Vietnam. We the outside minority share holders should take cognizance of the issues and concerns so raised and discus them among ourselves and question the Board at the forthcoming AGM.

Posted by makelittlemoney > 2020-08-10 08:45 | Report Abuse

u all did not know DK 66 is a scammer? it calls people to buy it since RM 1..

Posted by DK > 2020-08-10 08:45 | Report Abuse

Chuckie1, you should visit the official website of AES corporation and check up the dividend information before assuming the information shared here is from private conversation and non public info.

https://www.aes.com/investors/financial-reports-summary/default.aspx

If you scroll back far enough, you will notice that the dividend information of Mong Duong II have been shared numerous times.

Posted by Sslee > 2020-08-10 09:19 | Report Abuse

Dear DK,
I am very sure of the INSAS value and hence I spend 3 years attending the AGM and getting to know the Board. My only regret is the major shareholder DST always kept his distant and I really do not understand him

As for JAKS the Vietnam Power Plant is the goldmine and its worth is many times more than current JAKS market price. The only problems are ALP and JAKS Malaysia business is bleeding cash non-stop.

I wound not be able to attend the AGM (I wish I could) due to my Indonesia work commitment hope you will be there and make sure the Board answers all my questions submitted in advance of AGM

Thank you