Posted by firehawk > 2021-04-02 18:27 | Report Abuse

Actually, the Vietnam pp theme already existed when kyy time , I noticed this counter when kyy wrote many articles on it .....

Posted by Just88 > 2021-04-02 19:39 | Report Abuse

我不便透露DK在群组的建议。我只能说群组对DK非常感恩。他的建议让群组从这次的波动中避险获利。DK是个好人。他的离开是i3 的损失。

Posted by firehawk > 2021-04-02 20:08 | Report Abuse

I think u misunderstand, I didn't ask u to tell anything ......

Posted by Sslee > 2021-04-02 20:16 | Report Abuse

In another 2 month time the next quarter financial result will give you the clear guidance as of the share of profit from Vietnam 30% JV power plant.

Posted by Bgt 9963 > 2021-04-02 21:01 |

Post removed.Why?

Posted by TamanOrkid > 2021-04-02 22:50 | Report Abuse

Jaks 的成绩有点奇怪。大家先认识这是去年10月到12月的业绩。

公司前个季度，因为卖了子公司房地产股权，前个季度错误放了所有的盈利给自己，没有把大约50%的其他股东权益算在内，所以必须在这季度吐回出来，所以有8000多万的impairment.，纠正前期的错误。

加上Impaired 了未来一些债务和应收账款。
加上5000多万的impairment on good view, 商义impaired

这个公司的财务部的想把最不好的，都在这季度impaired 掉。把简单一季度财报复杂化，专业能力令人不满意。

而越南发电厂的最后阶段的建筑工程收入只那么少许，有推迟进账的情况。

比较幸福的是，越南30%控制的associate 公司，短短三十天左右，第一台在11月尾开始发电的发电机，己贡献发电盈利700多万也在季度财报出现，而第二台发电机在1月尾开始发电，正式启动了。

下个季度是1月到3月，是发电收入的暴发期。
第一台发电机完全贡献，第二台也在二月三月完全贡献发电。
如果没有一堆的奇怪Impairment, 还好。

这不是买卖建议，你们问问有牌的remisiers.

Posted by TamanOrkid > 2021-04-03 07:18 | Report Abuse

最近有些公司业绩非常的凄惨，跌的比所有可以分析和想象的还要惨。 但业绩出炉后，如果股价下跌几天后跌不下去了。而且从买卖盘中，可以看穿庄家在假意压票，实至收票的动作，这个是经验之谈。我们就可以想想，是否有庄故意把未来可能的“损失”，先在公司第4个季度财报，先亏损先，把业绩报告做的非常的难看。当然这是在会计上是灰色的，也算是合法的，尤其是财政年的最后一个季度，第4个季度业绩，external auditor可以advice公司做impairment。 未来如果这些“可能的亏损”，没有成事实，或者先拨备“可能收不到的款项”变成可以和已经收到，就是未来的盈利了。 讲了这么多，我们还是必须了解，这些公司的基本面是否有没有变化，这些公司本来大众都在预期的未来极大盈利，是否还是一样会来? 如果都没有变化，那么这轮的impairment造成的亏损，反而是好事，把未来可能存在的impairment （Good View，Receiveable。。plants and machineries）给impaired 掉了。换来的就是比较健康的balance sheet。 无论如何，如果那个股票继续下跌到跌破心里承担价，风险管理下，还是必须先止损，承认看错，在等待时机。 没有买卖建议，你们也无需猜测是什么公司。这些公司在大马市场多的很。

Posted by SureWin1Woh > 2021-04-03 15:20 | Report Abuse

Orkid, I have the same opinion with you. Purposely do a spring cleaning of its book by kitcen-sinking all the previous shits and start anew from next qr forward. Explosive earnings coming!!!!

Posted by jackjason > 2021-04-03 19:00 | Report Abuse

Jaks的会计师不是故意造假在4th quarter 有over estimated disposal gain 就是他无能， 不会handle.
烂公司一个。

Posted by Loveproject > 2021-04-05 10:51 | Report Abuse

Hi DK, Please add me in your group. Thank you very much

Posted by Sslee > 2021-04-05 10:51 | Report Abuse

The Board of Directors of JRB (“Board”) wishes to announce that JSB, a wholly-owned subsidiary of JRB had on 29 September 2020 entered into a shares sale and purchase agreement with Island Circle Development (M) Sdn Bhd (“ICD”) in relation to the Proposed Disposal (“SPA”)
ICD was incorporated in Malaysia on 2 November 2000 under the Companies Act, 1965 as a private limited company and is principally involved in property development and management business. As at the LPD, the existing shareholders and directors of ICD are as follows:-
Chen Cheong Fat: 1,075,000: 65 %
Rasli bin Musamah: 575,000: 35 %

The Proposed Disposal is expected to contribute positively to the consolidated earnings and EPS of JRB for the FYE 31 December 2020. JRB Group is expected to realise a gain of approximately RM71.89 million from the Proposed Disposal against the audited NL of JIC as at FYE 31 December 2019 of approximately RM140.95 million, the details of which are as follows:
Audited NL of JIC as at FYE 31 December 2019: RM 140,953,953
Add: Disposal Consideration RM 1
Less: Non-controlling interests of JIC (49%): RM 69,067,437
Gain to JRB Group: RM 71,886,517

Quarterly rpt on consolidated results for the financial period ended 30 Sep 2020
The Property Development & Investment division achieved a revenue of negative RM3.2 million for the current quarter. However, a higher profit before tax of RM129.3millionin the current quarter was recorded as compared to a loss before tax of RM17.9million in the third quarter of 2019. This was mainly due to the one-off gain arising from the disposal of the 51% equity interest in one of the subsidiary. The disposal resulted in a gain before tax of RM174.4 million and after taking into account the Non-controlling interest portion, the gain of RM89.0 is recognised by the Group. With the need to make RM30.5 million allowance for doubtful debts in the current quarter.

Quarterly rpt on consolidated results for the financial period ended 31 Dec 2020
The higher loss before tax for the current quarter was mainly due to:-
(i) the reduction in revenue by 79% from the previous year’s corresponding quarter;
(ii) impairment provision on good will of RM52.0 million;
(iii) impairment loss on trade and other receivables of RM23.6million;and
(iv) re-statement of the gain on disposal of the 51% equity interest in JIC, from RM174.4 million to RM89.1 million, where RM85.3 million is now allocated to the Non-Controlling Interest.
This division recorded a higher loss before tax of RM106.6million as compared to a loss before tax of RM28.7million in the fourth quarter of 2019. The Property Development & Investment division also had to re-state the gain on disposal of the 51% equity interest in JIC, from RM174.4 million to RM89.1 million, where RM85.3 million is now allocated to the Non-Controlling Interest.

Of the above 3 account on disposal of JIC to ICD which account is the correct one?
Is Jaks Board committed an offend of releasing false information?
Is JIC deal a bail out deal for ICD?

Posted by IronShirt > 2021-04-05 10:57 | Report Abuse

Next Qr. Results is no better than this Qr. Jaks Qr results always perform HaraKiri (cutting Belly)
when ever there is a MCO. Vietnam gains is No match for local losses

Posted by hao091194 > 2021-04-05 13:46 | Report Abuse

How u know next Qr bad? U work inside or insider? What is the fact u know?

Posted by Analyser > 2021-04-05 13:57 | Report Abuse

anyone can come to a mathematical conclusion to say jaks is a good counter despite endless surprises to shareholders.

but the company is too mired in it's own set of problems and come back haunting loyal shareholders again and again. and always, loyal shareholders tend to ignore these and hope for a better quarter.

my question is, there is a growing sense of distrust in the founder of the company where it has been quite obvious there is an operator behind taking advantage of these surprises or bad news at the expenses of shareholders.

if u'd like to trade the stock, by all means. but if u are a loyal shareholder, u are better off investing in counters that are profitable in an ethical manner and not lured into something which not materializing.

Posted by ValueInvestor888 > 2021-04-05 15:26 | Report Abuse

According to Hwang analyst report, private placement or right issue is on the way if it is going to buy additional 10% power plant. Just about 5 months ago right issue, it seems that all monies almost used up according to latest quarterly results. It will be a joke in the history of Bursa if it is having a right issue again in just 5 months after right issue some time in Nov 2020.

Posted by ValueInvestor888 > 2021-04-05 15:28 | Report Abuse

Share of Hai Duong Power Plant Is Now Fully Completed
Management has guided that both units of the 2x600MW Hai Duong power plant has been completed ahead of schedule and has started selling electricity to the grid. We estimate that with the full contribution from the power plant moving forward would be about RM120m to the group PAT. We believe that management is also exploring the option to take up the additional 10% stake, as the power plant is has been completed, and the option will expire 3 years from the Commercial Operation Date (COD). However, JAK would require additional equity to take up the option as they do not have sufficient cash to pay for the additional stake, in our view. The 10% stake would likely cost about US$50m.

Posted by ValueInvestor888 > 2021-04-05 16:21 | Report Abuse

It is quite clear that Unit 1 has generated RM 7.57m profit after about 35 days of COD based on the quarterly report. This result was above expectation after taking into acc of initial start up costs and lower efficiency. Unit 1 and Unit 2 combined should be able to deliver at least RM 150m - 180m annual profit based on 30 equity interest.



Sslee In another 2 month time the next quarter financial result will give you the clear guidance as of the share of profit from Vietnam 30% JV power plant.

Posted by Bgt 9963 > 2021-04-05 16:28 |

Post removed.Why?

Posted by HamsterHuat > 2021-04-05 19:40 | Report Abuse

I be waiting for my Banh Mi...yummy

Posted by Steady Punpipi > 2021-04-06 05:30 | Report Abuse

Careful no mention impairments yet

Posted by Sslee > 2021-04-06 07:48 | Report Abuse

I make myself JAKS minority shareholder again and will write to JAKS IR , Bursa and SC on the misinformation on Jaks disposal of 51% interest in JIC to ICD during coming weekend

Posted by Bgt 9963 > 2021-04-06 08:31 |

Post removed.Why?

Posted by ValueInvestor888 > 2021-04-06 09:31 | Report Abuse

Thank you and good job SSlee for being MI. Jaks has a gold mine like what you said earlier and already seeing share of profit of RM 7.5m in Unit 1 of the Power Plant in just 36 days of COD. I believe you can make good profit in Jaks if you continue holding Jaks.

Posted by Bgt 9963 > 2021-04-06 09:34 |

Post removed.Why?

Posted by mantua39 > 2021-04-06 09:38 | Report Abuse

Good job, Sslee. Looks like some hanky-panky in this interelated JIC deal.

Posted by ValueInvestor888 > 2021-04-06 09:56 | Report Abuse

The Board of Directors of JRB (“Board”) wishes to announce that JSB, a wholly-owned subsidiary of JRB had on 29 September 2020 entered into a shares sale and purchase agreement with Island Circle Development (M) Sdn Bhd (“ICD”) in relation to the Proposed Disposal (“SPA”)
ICD was incorporated in Malaysia on 2 November 2000 under the Companies Act, 1965 as a private limited company and is principally involved in property development and management business. As at the LPD, the existing shareholders and directors of ICD are as follows:-
Chen Cheong Fat: 1,075,000: 65 %
Rasli bin Musamah: 575,000: 35 %


MACC and LHDN should investigate ICD transactions between Ang LP and ICD directors, where there have so much monies for the joint venture property development project with Jaks for a private small company and any hanky panky arrangements between them. ALPah treats MI like ATM machine and into this "Share issuances the new get-rich-quick scheme in town" like what theedge article link below:

https://www.theedgemarkets.com/article/special-report-share-issuances-new-getrichquick-scheme-town

Posted by paktua73 > 2021-04-06 10:14 | Report Abuse

let mark paktua battles point..
result on okt 21..

org lari kita mari..
org benci kita cintai..
kita beli org lari..

jaks is real devil..
let devil play around..

not buy or sell call yer..
please do own Analise n own home work..
paktua done read all dk66 Analise..
n confidence to play here until okt 21

tut tut
dare to die or dia try

Posted by paktua73 > 2021-04-06 10:23 | Report Abuse

paktua was promise to own team..
we will play in jaks battles ground
on april 21..(was tell since nov 20)
now we in here..
our battles point : 0.63-0.68
our battles period : april - sept 21..

lets we ride..
we done on dayang,dataprp n AA..
now we love be here until okt 21..
devil sea we sail..



tut tut
dare die or die try..

Posted by paktua73 > 2021-04-06 10:26 | Report Abuse

paktua back melalak when all was putus asa..
menyeru semua perajurit terus mara..
berpantang maut seru di sahut..

we're the fighters and never fear any..
even in hell also dare to swallowed..
we all was prepared mental strong..
with a LION heart we unite..
be as one TEAM..

we're like a WOLF pack..
we hunt our goal.. to higher hill
we hunger to climb for more..
to the highers mountain..

let hear back some warriors song..
paktua always sing louder..

come on..
talk no use.. created the reason no use..
we was walk on real brutality battlefield..
paktua was prove it on many battle..

never give up once..
even storm hit hard we dare to play..
even naysayers yelling doom will hit..
we still dare to in..

here paktua troops was prove it..
we thru all bearish people..
we beat all who say not Worth it....

https://youtu.be/ZZhIKmWtf78

in red wave we sail..to the journey..green Valley we arrived
we never surrender..


tut tut
we stand until the end..

Posted by paktua73 > 2021-04-06 10:43 | Report Abuse

hanya cuba menyanyikan suara..
suara lantang menyemarak jiwa perwira..

paktua does not sing..
because it has an answer..
it sings..because it has a song..

paktua listen to the wind ..
because its talk..
paktua listen to the silence.
.because its speaks..
paktua listen to own heart..
because its knows..

dear troopers..
if you want go fast go alone..
if you want go far go together..

when spider web unite..
their can tie up a lion.
when a piranha filled in the river.
a shark also shy and swim backstroke..
you need be calm if want to fight with tiger..

even though..
you know thousand things..
ask the man..who knows one..

its not enough..
to learn how to ride..
but..
you must also learn..
how to fall..and stand up rise..
fall hundreds times..stand up thousands..

https://youtu.be/jat-a3aG3tc

when you reigns a believe..
the impossible maybe attained..


tut tut
who always think to soon is always come to late.

Posted by paktua73 > 2021-04-06 11:02 | Report Abuse

ok done melalak moring time..
see back petang time


tut tut
yeeee haaaa

Posted by Sslee > 2021-04-06 11:21 | Report Abuse

@paktua73,
Long time no see. How are you?
I will ask Bursa and SC whether minority shareholders can nominate their candidiate to be voted on as independant director thro' requisition of proposed AGM resolution or must be done thro' 10% shareholders requesting an EGM.

Posted by Windy1974 > 2021-04-06 13:12 | Report Abuse

SSlee. If you can gather enough (10%), i will vote you into BOD to protect our interest. Any companies wanna have long term investors need to have a dividend policy. That's why i choose Topglove over others in gloves. At current price for TG, investors should consider allocate a portion of their portfolio to gloves (up to 10%??)
I read that, Covid high chance to mutant new variants every 10 months and gloves could be a hedge for anyone's portfolio.

Posted by VIN3133 > 2021-04-06 13:28 | Report Abuse

Sslee bro , i support your efforts for the good of minority shareholders !! DK's private chat room has over 1k members . Let's see if we can gather enough supporters for your intended purpose . Your efforts are appreciated .

Posted by paktua73 > 2021-04-06 14:07 | Report Abuse

great Sslee..
paktua will do n support you..
let we try..
if jaks like berjaya groups..
hire new ceo n new management..
jaks will back on track..




tut tut
hope jaks can back above 1.10 on sept 21

Posted by Windy1974 > 2021-04-06 14:49 | Report Abuse

with pak tua no need others already exceed 10% shareholding lah

Posted by ValueInvestor888 > 2021-04-06 15:14 | Report Abuse

The Board of Directors of JRB (“Board”) wishes to announce that JSB, a wholly-owned subsidiary of JRB had on 29 September 2020 entered into a shares sale and purchase agreement with Island Circle Development (M) Sdn Bhd (“ICD”) in relation to the Proposed Disposal (“SPA”)
ICD was incorporated in Malaysia on 2 November 2000 under the Companies Act, 1965 as a private limited company and is principally involved in property development and management business. As at the LPD, the existing shareholders and directors of ICD are as follows:-
Chen Cheong Fat: 1,075,000: 65 %
Rasli bin Musamah: 575,000: 35 %


https://www.thestar.com.my/business/business-news/2004/05/18/shareholders-give-nod-for-wing-tiek-debt-restructure

FINANCIALLY distressed Wing Tiek Holdings Bhd has finally secured the last of its shareholders' approvals to finalise a group corporate debt restructuring scheme that would see another company taking over its listing status in two months' time.

Wing Tiek managing director Chen Cheong Fat told a press conference after the company EGM in Kuala Lumpur yesterday that JAKS Resources Bhd, will take over Wing Tiek's listing by July, “provided that all necessary documents are in place.”



Chen Cheong Fat and ALP in joint venture between jaks and LCD, which is loss making? Are both Chen and Ang buddies? Chen Cheong Fat last time were MD of financial distressed Wing Tiek and subsequently the listing status was taken over by Jaks.

Posted by Sslee > 2021-04-06 16:27 | Report Abuse

Dear all,
The procedure to include a motion/resolution at AGM is as per below:

Should you wish to include a motion at the upcoming Annual General Meeting, please take note of the steps below.

Pursuant to Section 323 of the Companies Act, a motion may be requisitioned by shareholders if it is requisitioned by:

(i) members representing 2.5% of the paid-up capital with voting rights; or

(ii) at least 50 members with the right of vote, where the average paid-up sum for each member exceeds RM500 per member.

The requisition needs to be made in hard copy or electronic form. Should you wish to send us the form by e-mail, you will need to send us a scanned copy of the signed form, together with a copy of your identity card / passport number. The other 49 shareholders must also do the same and the text of the requisite resolution must not differ from yours.

All 50 notices must be sent to the Company at least 28 days before the Annual General Meeting.

If request for EGM then need 10% shareholding to make requisition of an EGM.

The legal question is can we put our motion to vote in our nominee to become independent non-executive director at AGM or it can only be done in EGM?

Posted by Bgt 9963 > 2021-04-06 16:33 | Report Abuse

Thanks...SSlee with the above motion....at last we will show the management our minority rights...!

Posted by Sslee > 2021-04-06 17:04 | Report Abuse

Jaks badly need an independant non executive director nominated by minority shareholders with accountant qualification to check thro' the account during board/external auditor meeting to counter check many fishy accounting.

Posted by Windy1974 > 2021-04-06 18:27 | Report Abuse

DK would be an ideal candidate but i doubt he wanna be elected. You have no accounting background is ok, i am sure there are such expertise in JAKS share holders? 50 share holders should be easily done thru DK private chat group? Next is to gather the % shareholding to vote you in. All such procedures DK private chat group should consult DK. SSlee, you can make the process easier by having documentaations done and just get people sign. Yes, leceh but you wanna fight for minority interest then now is the time. You might be stated in Bursa history as the first success.

Posted by i3lurker > 2021-04-06 18:32 | Report Abuse

sslee

the Independent Director immediately becomes dependent upon those fees after appointment.

ha ha ha

Posted by Sslee > 2021-04-06 18:49 | Report Abuse

Haha i3lurker,
I think the most suitable candidate is DK and it is my hope DK will put forward himself to be nominated as indepandent director to safeguard the interest of minority shareholders.

If we able to do so, it will be an unprecedented feat and may set an example for many more minority shareholders to follow up in electing their nominee to the Board as independant director that really look after the minority shareholders interest.

Posted by i3lurker > 2021-04-06 18:50 | Report Abuse

sslee

ha ha ha

like how you supported Calvin Tan in the past?

Posted by Sslee > 2021-04-06 19:11 | Report Abuse

Haha,
Calvin Tan, a senior in i3forum is well know by everyone for his many chun chun calls and equal numbers of holland calls.

So Calvin need no support from me nor deserve to be condemned.

We need to encourage more people to blog writting and comments. The more the merry so that readers can make their own intelligent and informed/misinformed decision.

Posted by ValueInvestor888 > 2021-04-07 09:22 | Report Abuse

SSlee will be another idea candidate to be independent director of Jaks besides DK.

Posted by JJchan > 2021-04-07 09:25 | Report Abuse

Not a good idea to keep for short / even medium term, i saw net RSS numbers has increased
by a few million after Qr results

Posted by JJchan > 2021-04-07 09:26 | Report Abuse

Jaks is now in 5th place in RSS ladder

Posted by ValueInvestor888 > 2021-04-07 09:29 | Report Abuse

The Board of Directors of JRB (“Board”) wishes to announce that JSB, a wholly-owned subsidiary of JRB had on 29 September 2020 entered into a shares sale and purchase agreement with Island Circle Development (M) Sdn Bhd (“ICD”) in relation to the Proposed Disposal (“SPA”)
ICD was incorporated in Malaysia on 2 November 2000 under the Companies Act, 1965 as a private limited company and is principally involved in property development and management business. As at the LPD, the existing shareholders and directors of ICD are as follows:-
Chen Cheong Fat: 1,075,000: 65 %
Rasli bin Musamah: 575,000: 35 %


Jaks dealings with Chen Cheong Fat can be found in below articles to have more understanding of Island Circle Development Sdn Bhd.

https://www.thestar.com.my/business/business-news/2004/05/18/shareholders-give-nod-for-wing-tiek-debt-restructure

https://www.theedgemarkets.com/article/jaks-buys-51-mnh

https://www.edgeprop.my/content/steel-tycoon-cheng-sells-more-land

Posted by ValueInvestor888 > 2021-04-07 11:49 | Report Abuse

Jaks is not suitable for short term investors n traders. Its power plant is a gold mine with RM 180 m profit every year but with poor mgt led by ALP with many surprises. Investors need to watch closely mgt. It is high risk investment but has good value in the company. If not because of its bad mgt, it would not be selling at 63 sen now.

At current mkt cap of RM 1.1 b vs power plant profit RM 180m x 10 times, it should have mkt cap of RM 1.8 b assuming local business not making any losses. Latest quarterly result of RM 7.5m share of profit of the power plant for about 30+ days COD for Unit 1 already validated DK's working is accurate.