Posted by star168 > 2023-06-30 19:48 | Report Abuse

huge loss because impairment loss, how come project keep completion and cod, but cannot earn money

Posted by star168 > 2023-06-30 19:48 | Report Abuse

where all the money going ？i dont believe solar sector cannot earn money..

Posted by Eric Fong > 2023-06-30 20:00 | Report Abuse

No wonder cypark wanna sue government. A lot one-off impairment to do for this quarter. Hope in future, money can be collected and add back for company.

Posted by AhHuat01 > 2023-07-01 00:35 | Report Abuse

it is what it is...lousy ex management ...con9 our money only

Posted by AhHuat01 > 2023-07-01 00:37 | Report Abuse

now the question is can the new chairman be trusted or not??? make sure she is hired to deliver ....

The Chair of Cypark, Dato’ Ami Moris said, “The impairment assessment was done in a timely and prudent
manner to best reflect the financial position of the Group. It enables the management to focus on completing active
projects”.

Dato’ Ami Moris further added, “Moving forward, we remain focused on delivering active projects, such as the
Selgate RM109 million hospital construction contract, LSS2 Floating Solar Project in Danau Tok Uban, Kelantan
and LSS3 Solar Project in Merchang, Terengganu. Upon completion, the LSS2 Floating Solar will be the largest
floating solar in the world outside China with combined capacity of 60MWac/100MWdc while LSS3 Merchang will
become the largest solar farm in the country with 100MWac/171MWdc capacity. Both are targeted to be completed
by end of 2023. With this, Cypark will have approximately 400 MW of RE assets under its operational portfolio,
maintaining our position as the largest RE player in Malaysia. Whilst focus is to complete active projects, Cypark
continues to identify immediate opportunities such as the Corporate Green Power Purchase (“CGPP”) program,
the lifting of the export ban on renewable energy, and accelerated energy transition plans by corporates and
governments.”

Posted by Hotstuff > 2023-07-01 08:48 | Report Abuse

expecting more private placement in coming months to boost nosh to 2b in order to survive. cash has been reduced half with only 150m balance. 67m just the interest alone. f the recurring income can't even pay off your debts interest. sell and stay away. TP 40c

Posted by Chong3710 > 2023-07-01 09:53 | Report Abuse

Soon the jakelboys will start selling

Posted by AhHuat01 > 2023-07-01 10:45 | Report Abuse

cut lost cut lost!! still got alot intangible asset!!!!

Posted by cytew > 2023-07-01 10:47 | Report Abuse

intangible assets near a billion is " vey fishy "

Posted by cytew > 2023-07-01 10:50 | Report Abuse

" very fishy " *

Posted by Felix888 > 2023-07-01 10:59 | Report Abuse

Another round of private placement coming?

Posted by speakup > 2023-07-01 11:06 | Report Abuse

Massive rights issue coming?

Posted by AhHuat01 > 2023-07-01 11:57 | Report Abuse

which dump investor still willing to invest their money via PP or RI? doesnt make any sense...

I feel that the lousy ex management was aware of the impairment but deliberately chose not to disclose it to the public... thn after Jakel join this company, they spotted something fishy and so hired Dato' Ami Moris ... It is possible that Dato' Ami Moris, being hired to clean up the situation, made the decision to declare the impairment loss to the public....end of the day, her goal is to clean up cypark shit...

Posted by Whiteevoque > 2023-07-01 12:11 | Report Abuse

Just buy when it dips, most major companies will take chance to do huge impairments at the right time. Its common especially company who has audited tangible assets like oil and gas companies. Buy when first sign of rebound after this dip, keep for next uptrend at least 1-2 quarters

Posted by MikeChong80 > 2023-07-01 19:02 | Report Abuse

Anyone check QR for this..😅

Posted by DickyMe > 2023-07-01 19:20 | Report Abuse

10 sen coming soon!

Posted by star168 > 2023-07-01 20:13 | Report Abuse

wont going to 10 sen ...only make one off impairment huge loss ... but project property still exist.. so at least still gt something to support the fundamental.

Posted by star168 > 2023-07-01 20:13 | Report Abuse

next qr for sure turn positive revenua if no more impairment loss

Posted by star168 > 2023-07-01 20:14 | Report Abuse

but monday for sure expect going downtrend

Posted by AhHuat01 > 2023-07-01 21:19 | Report Abuse

@Star168, do u believe only 1 time impairment lost? Hahaha if it was not because they hired the new chairman, I would have sold all my share on Monday. I really hope the new chairman is not here to do wayang only ....

Posted by AhHuat01 > 2023-07-01 21:20 | Report Abuse

Terrible management.... Good company, good business model, good solar farm asset, but lapsap ppl

Posted by NatsukoMishima > 2023-07-01 22:43 | Report Abuse

Only hero dare to buy this kind of stock !

Posted by star168 > 2023-07-01 23:18 | Report Abuse

jakel mr chung is that hero... haha

Posted by sense maker > 2023-07-02 08:26 | Report Abuse

Integrity, transparency, or even illegality issues here. Past profits turned into impairments over time, and not into cash. Tenaga and government agencies are best paymasters supposedly and many shareholders got cheated.

Posted by Felix888 > 2023-07-02 08:45 | Report Abuse

Write off account receivables saja. Debit to impairment lost.

Posted by Sslee > 2023-07-02 09:12 | Report Abuse

Repost from my blog:

JAKS Financial ended: 2022: 2021: 2020: 2019
Impairment loss on:
Trade receivables RM: 5,099,410: 9,848,415: 25,862,099: 5,318,354
Other receivables RM: 18,737,258: 13,461,525: 45,331,965: 7,188,995

SERBA DINAMIK HOLDINGS BERHAD
Financial: 9 months ended 31/3/2023: Year ended 30/6/2022: 30/6/21
Impairment of trade and other receivables RM: 865,009,000: 393,205,000: 394,998,000

I cannot believe that Bursa reply to me on impairment of receivable: Please also note that it is the prerogative of the Board of Directors of the listed issuer whether to take legal action with regard to recovery of the receivables.

So impairment of receivables did complied with approved accounting standards and can be used as a legal way to whitewash accounting fraud or siphoning listed company money to relate party, friendly party or to own private company?

Posted by i3lurker > 2023-07-02 09:19 | Report Abuse

btw
without any legal action those bad debts do not qualify for deduction against statutory income.

so Jaks paid taxes on those receivables and paid taxes cannot be claimed back, its gone forever.

Posted by sense maker > 2023-07-02 10:59 | Report Abuse

Directors, executives or otherwise, are controlled by major shareholders. Auditors will catch any fictitious transactions which normally become apparent only when they have grown too big. Then big loss will be reported in accounts as impairment loss. Minority shareholders voiced concerns, and SC may issue fines which will be paid for using company’s money which belong to shareholders. Then the company gets delisted, and shareholders lose 100% of their investment. This is how the story typically ends in Msia.

Posted by cytew > 2023-07-02 15:01 | Report Abuse

Cypark timed-bomb had been discovered since early 2020...and our supporter had been told to stay away since then

Posted by Lee Ying Yee > 2023-07-02 17:18 | Report Abuse

B become black market stock ????esoe pp cps etc more n more ???

Posted by RISK8888 > 2023-07-02 21:53 | Report Abuse

Bye bye limit down.

Posted by wbuffet2 > 2023-07-04 10:51 | Report Abuse

Company says no impact woh.....but I wonder why then make such huge provision???

If LAD is upheld, then the Company will be in financial distress.....how to pay LAD when only got 150m. No one will pick up PP or RI.

Potential PN17 issues on the way?

Posted by yong1985cm > 2023-07-04 11:50 | Report Abuse

they make the provision bcz the new shareholder and chairmen wish to be more transparent and prudence, they prefer to make huge provision now to alert every1 including investor, shareholder, govt that there is chance that the company may need to pay for all these provision.

Posted by troy88 > 2023-07-05 15:38 | Report Abuse

so much net loss but share price shoot up. Amazing

Posted by kevinobc > 2023-07-05 16:09 | Report Abuse

likely will fall soon too .... up drastically , will go down drastically too...

Posted by icecool > 2023-07-05 16:53 | Report Abuse

losing money company share price always go up like crazy bursa new pattern

Posted by MikeChong80 > 2023-07-05 16:55 | Report Abuse

tomorrow flyyy n fry..hehe

Posted by Whiteevoque > 2023-07-05 22:02 | Report Abuse

Should break rm1 soon

Posted by speakup > 2023-07-05 22:06 | Report Abuse

Welcome to Casino De Bursa
SC and Bursa sleeping on the job as usual

Posted by star168 > 2023-07-05 22:08 | Report Abuse

when qr release a lot people say limit down？

Posted by star168 > 2023-07-05 22:09 | Report Abuse

malaysia stock crazy always

Posted by momochick > 2023-07-05 23:56 | Report Abuse

we should buy bad qr stock after this

Posted by Upup168 > 2023-07-06 08:20 | Report Abuse

well, the lost was wrote of on some assets. next qt will be nice and clean qt.

Posted by Upup168 > 2023-07-06 08:23 | Report Abuse

So can try waiting for 1 for profit take in short term, i think. all on your risk management. ^,^

Posted by Starisborn > 2023-07-06 11:41 | Report Abuse

Look...... 48 sen loss per share is NOT a token sum and definitely it warrants very careful assessment and even professional legal advice before such drastic decision was made. Have the Board/Management done so?

Where is their fiduciary duties that they owed to all shareholders and investors?

What was the motive behind to hastily provide on everything that on the flip side, they confirmed is ACT OF GOD and escape financial liability under FORCE MAJEURE clause? If that is the case...why provide in the first place?

Effectively, this announcement had mislead all investors that thought the company is in deep trouble!

Perhaps Bursa need to take a closer look at this announcement made!

Posted by FinanceInRealLife > 2023-07-06 19:44 |

Post removed.Why?

Posted by Whiteevoque > 2023-07-06 21:43 | Report Abuse

You all should read the qr report. Dnt just look at the figures summary. They have decided to reflect all
Impairments into this quarter and provide opportunity for them to start fresh for next quarter.
Lots of major companies are practising this when they have significant depreciation of asset value, and etc.

Posted by Upup168 > 2023-07-07 08:33 | Report Abuse

Agreed with Whiteevoque. Perkeso bought strike and became shareholder. Want to refresh and start new again with this backup, thats why shot up to history peak of 1.23 when news came out.. for short or long term, it will be good..

Posted by wbuffet2 > 2023-07-07 09:26 | Report Abuse

Things just don't deteriorate overnight?

@Whiteevoque......are u suggesting the Board is also sleeping on their job before this quarter announcement? Out of a sudden, they woke up and panicked and PROVIDE what ever there is to PROVIDE irrespective of any FORCE MAJEURE clause. If it was all due to pandemic/MCO imposed, I belief following your line of thought, all BURSA listed companies would have then wipe out in trillions in market capitalisation if ALL companies make FULL provisions.

Let us recalled that in the past, there was once a company by the name Goh Ban Huat Berhad and usually their EPS is in a single digit EPS. Out of a sudden, it was announced that the quarter EPS was 80sen and the stock went limit up in the next few sessions. Looks like their book keeper/CFO/Co Sec as well as Board of Directors are sleeping on their job.

Bursa quickly issued UMA and true enough, there was indeed an error detected! The shares went limit down in next few session. GBH was reprimanded by BURSA but the real victims are those innocent investors who chase the stock on the way up.

Posted by yong1985cm > 2023-07-10 12:35 | Report Abuse

any1 noticed that chung started to unload his stock?