Posted by Analyser > 2021-04-16 21:17 | Report Abuse

Sslee, i think almost everyone in this forum won't understand what u are trying to explain here. But it's fine, let me share my thoughts.

The reason why Jaks' accountant mentioned Q3 is correct because the corrective adjustment is done in the subsequent quarter. hence, the YTD 12 months figures are correct after this adjustment.

Jaks' accountant would assume that u would look at Q1 - Q4 published quarterly report figures collectively to arrive to the correct YTD figures, and not looking at Q3 solely. This is a common practice even for auditors to allow adjustments to be made correct as long as within the year. Anyway, the financial statements are presented for 12 months, not monthly.

Further the "misstatement threshold rule" by Bursa does not apply to anything below "Total Comprehensive Income", which are the "Owner" and "NCI" part. Hence, auditors are not concerned either. If the misstatement occurs above it, for instance revenue or cost of sales, an errata report must be published to Bursa.

Hope the above clarifies.

Posted by Sslee > 2021-04-17 16:30 | Report Abuse

My reply to JAKS IR
Dear Sandra Tan,

Thank you very much in selectively answering my question 2 of 4.Will the Board answer my other 3 questions?

By the way thank again for giving me a lesson on accounting that Q3 and Q4 Profit and Loss statement is accurate and purely a matter of presentation so please allow me a non accountant give you my thought on what is wrong with Q3 and Q4 P&L statement.

If JIC (51% subsidiary company of JAKS) make a net profit of RM174.4 million for the period end 30 Sept 2020 then the JAKS Consolidated P&L statement is correct to state:
From JIC Net Profit for the period: RM 174.4 million
Net Profit/(Loss) for the period attributable to:
Owners of Company: RM 88.944 million
Non-controlling interests: RM 85.456 million

I refer JAKS: Condensed Consolidated statement of Comprehensive income for Financial Period Ended 30 September 2020
RM’000
Total comprehensive Income/(Loss) for the period: 101,786
Net Profit/(Loss) for the period attributable to:
Owners of Company: 26,746
Non-controlling interests: 75,040

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
This announcement is dated 29 September 2020 but the actual transaction was based on NET LIABILITIES of JIC at RM 174.4 million.
Question1. What kind of accounting will stated Net Profit/(Loss) for the period attributable to Non-controlling interests: RM 75,040,000? When you disposed a net liabilities/negative equity company JIC for RM1.00

Again refer JAKS: Condensed Consolidated statement of Comprehensive income for Financial Period Ended 31 December 2020
RM’000
Total comprehensive Income/ (Loss) for the period: (199,536)
Net Profit/ (Loss) for the period attributable to:
Owners of Company: (103,1880)
Non-controlling interests: (96,348)
The proposed JIC disposal has been completed on the date of the SPA on 29 September 2020 and no more in JAKS book for period end 31 Dec 2020
Question 2: Is the Non-controlling interests: Loss of RM 96,348,000 is attributed to non-controlling shareholder ICD 49% equity in MNH Global Assets Malaysia Management Sdn. Bhd.(“MNH”) and Fortress Pavilion Sdn. Bhd. Malaysia (“FP”)?

Thank you

Posted by robertwts > 2021-04-17 20:25 | Report Abuse

so？

Posted by iswara > 2021-04-17 20:47 | Report Abuse

So what, they want price down, what can you do ? hold long long time,

Posted by Sslee > 2021-04-18 09:25 | Report Abuse

I want the truth and hold the Board accountable and responsible.

You cannot give misleading information that the disposal of net liabiliaties JIC will result in gain of disposal and then on the other hand huge impairment on receivable and goodwill.

Juat a question to you:
Will you consider buying a net liabilities RM 174.4 million JIC for consideration of RM 1.00?

Posted by SarifahSelinder > 2021-04-18 09:42 | Report Abuse

Sslee

Selamat pagi

No 3rd party x kan beli

Tapi Andy's & kaki kan beli klau overall taking into consideration the appreciation in JAKS shares price Andy's & kaki kan net a profit even taking in the loss incurred kat JIC

Sacrifice JIC NCI for the good of JAKS

Give JAKS a clean slate

Afterall JAKS profit is capitalized higher

In a way Andy is taking a hit kat JIC

Andy sacrifices for JAKS

Posted by Sslee > 2021-04-18 09:59 | Report Abuse

You can recapitalise JIC where the advance/loan given by Jaks is converted to equity and the ICD inject in new fund for their part of 49% equity.
After all Pacific Star PJ is now at the tail end of handover.

Posted by SarifahSelinder > 2021-04-18 10:12 | Report Abuse

Advance tu x cukup

Oso there is no compulsion

No compulsion in capital injecting


Tapi whole point is JIC is a liability tat JAKS n Andy wants to shed and Sarifah agree

Posted by SarifahSelinder > 2021-04-18 10:18 | Report Abuse

JIC is a company x org nak lagi

A sacrifice by Andy & kaki

Posted by SarifahSelinder > 2021-04-18 10:19 | Report Abuse

Sslee

U r penny wise pound foolish

Posted by SarifahSelinder > 2021-04-18 10:27 | Report Abuse

Sslee

U x faham tis part


Tapi Andy's & kaki kan beli klau overall taking into consideration the appreciation in JAKS shares price Andy's & kaki kan net a profit even taking in the loss incurred kat JIC

Sacrifice JIC NCI for the good of JAKS

Give JAKS a clean slate

Afterall JAKS profit is capitalized higher

Posted by Bgt 9963 > 2021-04-18 10:33 |

Post removed.Why?

Posted by Sslee > 2021-04-19 07:11 | Report Abuse

51 % owned Fortress Pavilion Sdn. Bhd. Malaysia (“FP”) is another net liabilities company should JAKS also dispose FP to ICD for RM 1.00 to start a clean slate?

Posted by Bgt 9963 > 2021-04-19 08:38 |

Post removed.Why?

Posted by SarifahSelinder > 2021-04-19 09:53 | Report Abuse

Andy wanted to sell Evolve Mall dah lama d

For the same reason


Oso Pacific Star can be disposed for a good price a fair price even an ok price

Posted by Sslee > 2021-04-19 10:17 | Report Abuse

KUALA LUMPUR: Jaks Resources Bhd is acquiring a controlling 51% stake in privately owned property developer MNH Global Assets Management Sdn Bhd for RM93.2 million.

Very soon MNH where JAKS pay 93.2 million for a 51% equity will become a net liabilities company too. So dispose back to ICD for RM 1.00 to start a clean slate?

Posted by SarifahSelinder > 2021-04-20 09:48 | Report Abuse

Klau very soon MNH kan jadi net liabilities company jadi do u think wise ke to do capital injection?

Focus on y it wil become a net liabilities company

Sbb continues losses la kan?

Inject new fund into a co tat is projected to make continuous losses?

Inject further loss -tif inject further loss -tif inject further loss -tif inject lagi?

Posted by paktua73 > 2021-04-20 11:05 | Report Abuse

paktua orang paling gila di jaks kingdom..
orang cakap lari lari..
paktua telan berlori lori..
haha..
simpan sampai bulan sept..


tut tut
tp ku tetap rm1.10
biar berbalar badan
jaks tetap ku telan..
haha

Posted by Sslee > 2021-04-20 11:24 | Report Abuse

You need to look into the detail liabilities in the 51% company because most likely the liabilities are loan/advance from JAKS or bank borrowing gurantee by Jaks.

If advance/loan from JAKs then this advance/loan can be converted to recapitalise equity part of 51% and ICD need to inject in fresh capital for his 49%

But if you sold it to ICD for RM1.00 but later all these advance/loan are written off as impairment of reveivable then you are actually letting off ICD from his obligation as 49% equity holder.

Posted by garychee8 > 2021-04-20 11:25 | Report Abuse

WAITING PATIENTLY AT 0.50

Posted by paktua73 > 2021-04-20 11:29 | Report Abuse

biar berbatu hujan api..
biar beribu sang ALP..

paktua sedia meranduk api..
berkawan dengan ALP..
jaks tetap di hati..


tut tut
orang tua tak sedar diri..
beli bila org semua lari

Posted by SureWin1Woh > 2021-04-20 11:54 | Report Abuse

Beli bila org semua lari.....a winner mindset

Posted by garychee8 > 2021-04-20 13:15 | Report Abuse

telan boleh asal jgn tercekik.wahai org tua

Posted by SarifahSelinder > 2021-04-20 14:42 | Report Abuse

Kan dah bilang there is not compulsion in capital injection

U cannot force NCI to pump in new funds

Alternatif is JAKS offer to buy over d 49% from NCI at rm 1 do u think tis is good idea?

Posted by AnsonLiew > 2021-04-20 15:28 | Report Abuse

buy now b4 too late
rm1 on the way

Posted by limkokthye > 2021-04-20 15:40 | Report Abuse

jaksai company

Posted by Windy1974 > 2021-04-20 16:42 | Report Abuse

Wow, Sarifah macam business woman or accountant ni. SSlee, it's good that you raised your concern but in this case i tend to agree with Sarifah. In life or investment, the hardest thing is to admit defeat due to our ego. I won't invest in JAKS if not because of Vietnam PP. Obviously, ALP sucks at property. He can blame it on market timing but i know many veteran property developers actually turned cautious before 2014. Of course, if you are a listed companies you react differently than a privately held company. I see no problem with the disposals and in fact i am happy. As i stated earlier, JAKS tolong please don't do property again. That might increase overall profit but it's a big MIGHT. Just give me Vietnam PP that's all. MFCB has created 1 of Malaysia richest man and hopefully JAKS will make ALP next and i tumpang belakang sikit.
Many goreng stocks have halved in value. So, are you gonna hold or admit defeat? It might go up, noone knows. However, from me being 1 that used to play goreng stocks, my experience told me that over a time span of 5 to 10 years 1 bound to lose their pants in goreng stocks overall.
I have heard many overnight millionaire stories in Genting but they all now already cabut from loan sharks

Posted by Sslee > 2021-04-20 16:58 | Report Abuse

No one will say anything if it is a private company and you can do whatever you like.

But JAKS is Public listed company where money from shareholders is used to run the company and as sharesholders you should hold the Board and Management accountable and responsible.

So should we not questioning The Board when Allowance for impairment of receivables: RM 69,507,000?

Posted by Windy1974 > 2021-04-20 17:07 | Report Abuse

I agree SSlee.I don't understand accounting but from what i understand, JAKS is trying to write off bad investments and won't affect future earnings? Of course, if it involves any wrong doing, it's rightly so you raised your concerns. However, sorry for me to say, i couldn't understand your arguements. I might be the minority, if i am the majority, then how would you gain support from JAKS share holders.
Your cause is noble but why just stop at JAKS. They are many goreng stocks which the exurberant prices will damage the players? If indeed JAKS is so bad and try to con me, i say i would lose 30-40% of my investment cos Vietnam PP gotta worth something? Whereas many goreng stocks, some with animal names even haha, worth 0? Now, if Airasia can't survive, at least they fight right? Those goreng stocks they do plan, but for their own pockets. You should fight for the awareness for the newbie in bursa. They are gonna lose their life savings.
Btw, i do appreciate your comments on AA. I have exited AA. Covid is so uncertain. I would be lucky to fly domestically from August onwards. Internationally, 2022 finger cross.

Posted by ming > 2021-04-20 18:18 | Report Abuse

In fact, that is not so important.

As long as the dream (pp) no koyak yet, price will goes up

Malaysia share market memang mcm ni

Posted by SarifahSelinder > 2021-04-21 07:52 | Report Abuse

What wld u say kla 49% ICD counter dia sama je dgn u n me its position is d same as u n me sama sama r minority shareholders je

What wld say klau ICD oso condemn d one in control of d company that is 51% JAKS for causing all d losses sampai -tif net liability co? Apa u r one in control all d while!

Posted by Sslee > 2021-04-21 09:17 | Report Abuse

JAKS should take legal action against contractor who is responsible for the Pacific Star and also legal action to recover the receivable.

If JAKS can take legal action again Star than why not against contractor and those receivable?

Posted by Sslee > 2021-04-21 09:23 | Report Abuse

Jaks Resources Bhd is acquiring a controlling 51% stake in privately owned property developer MNH Global Assets Management Sdn Bhd for RM93.2 million.

So is ICD the one resposible for all the property project under JAKS?

Posted by Sslee > 2021-04-21 09:28 | Report Abuse

http://www.islandcircle.com.my/Malaysia-property-developer-commercial-retail-residential-properties.php

Posted by paktua73 > 2021-04-21 09:36 | Report Abuse

morning...
paktua will buy phase by phase..
previously done..
now wait if can get more lower then 0.58

sini buka ladang kena sabar..
ni ladang tanah paya..
selalu banjir jer..
tapi murah kos dia..
pokok tetap akan membesar..



tut tut
paktua ttp buy more and aim by sept jaks will clomb back above rm1.10

Posted by paktua73 > 2021-04-21 10:31 | Report Abuse

dear jaks fighters..
your believe determine who you are..
be the chosen one..
be the one make the choices..

dear jaks believer..
now..
ask your self..
are you the captain on you move?
or..
just are passenger??

https://youtu.be/GQlKIZF0abM


remember..
THIS IS YOUR SHIP!!!..
BELIEVING on YOUR MOVE.
and ..
BE the CAPTAIN on your SHIP....



tut tut
your decide..

Posted by paktua73 > 2021-04-21 10:36 | Report Abuse

paktua gilaa dok melalak
sedang orang dah muak..
let hear more..

dear jaks fighters..
if you was beat hard until down..
remember to fight back..
don't never ever give up even once..
fight back..fight more n more..
even left only you...even just left you stand alive
only the stronger will earn the thrive..


https://youtu.be/K9drl1FKVb4

remember..
never give up even once..
bean defeated not means you are loser..

same on jaks..if we give up on him..
he will left you behind..

tut tut

Posted by Newbieinshare > 2021-04-21 10:45 | Report Abuse

i can see rm0.5 coming
buy now sure go holland free ticket

hahahahaha


From AnsonLiew

Posted by Sslee > 2021-04-21 10:47 | Report Abuse

Paktua73.
By next quarter result should know share of pofit from Vietnam Power Plant.

Posted by Windy1974 > 2021-04-21 11:20 | Report Abuse

paktua. Are you sure you were not the one pressing down the price to collect cheap kah haha

Posted by Windy1974 > 2021-04-21 11:22 | Report Abuse

Yes. if i run JAKS i would clear off all accounting negatives and show big profit in upcoming QRs. I believe we are heading there...That's why i bought a lot. But definitely no where near paktua la

Posted by Sslee > 2021-04-21 11:38 | Report Abuse

JAKS Resources Bhd LSS4 (50MW)
Just wonder how JAKS going to fund this 50MW solar plant?

Posted by detouch > 2021-04-21 12:08 |

Post removed.Why?

Posted by detouch > 2021-04-21 12:09 |

Post removed.Why?

Posted by ming > 2021-04-21 13:48 | Report Abuse

Im no worry now.. but when near qr i will scare..lol

Posted by hao091194 > 2021-04-21 13:51 | Report Abuse

How much money require for 50 mw solar plant

Posted by Sslee > 2021-04-21 14:07 | Report Abuse

https://themalaysianreserve.com/2019/11/15/mattan-engineering-launches-rm285m-solar-power-plant/

Friday, November 15th, 2019 at Business | News
MATTAN Engineering Sdn Bhd has launched its RM285 million large-scale solar 50MWac photovoltaic (PV) generation facility in Rembau, Negri Sembilan.

The project, which was completed in January this year, has a 21-year power purchase agreement with Tenaga Nasional Bhd.

The renewable energy (RE)-based facility’s construction cost was partially financed by Malaysia Building Society Bhd.

Posted by Happyday123 > 2021-04-21 15:07 | Report Abuse

Jaks yet to koyak and sink? hahahaha....

Posted by JJchan > 2021-04-21 15:55 | Report Abuse

Jaks RSS short is higher than AirAsia ( airasia is a corpse without burial---rotting in hot sun )
Something is not right

Posted by Putrajaya666 > 2021-04-21 16:28 | Report Abuse

linger at 60c ....... from 70c go stan to 60c , nice