Posted by RISK8888 > 2021-07-01 22:54 | Report Abuse

die lor....many ppl say cypark is serba 2.0.........

Posted by Karlos > 2021-07-02 07:07 | Report Abuse

Cypark has a very good biz but directors/major shareholders are making themselves rich at the expense of other shareholders via cheap ESOS and private placements.

Posted by star168 > 2021-07-02 07:22 | Report Abuse

Good company, but management seek like bad, if price cheap can collect, high risk stock in short term, long term may good if cypark can manage well

Posted by jinova546 > 2021-07-02 16:42 | Report Abuse

But before serba kena red flag, many people also said serba is a gem and a good company in the long term.....

In the end, serba becomes roti canai or worst.....

hopefully, cypark is not one of them...

They said this is because cypark took a lot of Gov projects. And now Gov is not stable and possibly changing Gov soon...

....hmmm too much toxic

Posted by Zackmeiser > 2021-07-02 20:03 | Report Abuse

too much debt. probably need a few PP to meet obligations.

Posted by star168 > 2021-07-02 21:22 | Report Abuse

Even change gov, solar still future developement

Posted by ivanlau > 2021-07-03 15:28 | Report Abuse

high gearing ratio , high intangible asset, better avoid this stock ...... today closing 0.91 ........

Posted by Pyh96 > 2021-07-04 11:04 | Report Abuse

4 out of 5 years - biz reporting decent profit but Negative operating cash flow
Serba 2.0?

Posted by kens88 > 2021-07-05 10:39 | Report Abuse

damn
bought this shit counter

Posted by Trading2U > 2021-07-05 14:11 | Report Abuse

50 sen....

Posted by Azam Sahlan > 2021-07-05 18:00 | Report Abuse

negative cash flow is acceptable when we know there are expansions. If theres not, then its a red / amber etc flags :D

Posted by RISK8888 > 2021-07-05 21:23 | Report Abuse

still not yet fix PP price, really greedy want lower PP price...

Posted by RISK8888 > 2021-07-06 09:58 | Report Abuse

finally moving up after long down trend

Posted by Trading2U > 2021-07-06 11:14 | Report Abuse

RM 1.5 first TP.. typical wash out retailers..

Posted by Karlos > 2021-07-07 12:06 | Report Abuse

For those who were worry of Cypark heavy borrowing and high gearing, please note that RM 166 m of debt shown in Q1 2021, the latest Q, which has with no fixed redemption date is classified as equity instead of liability or debt. This classification will make Cypark to appear to have lower debts and debt gearing ratio at least on paper and distorted other financial figures as well. This debt will very likely to increase further to up to maximum of RM 500 m as provided under the MTN Program. In fact the amount in the previous Q was only RM 118 m. However our accounting standards allow to classify such perpetual debts as equity rather than liability. Some countries like our neighbor Thailand has recently disallowed to classify such debt as equity. Just take note.

Posted by wallstreetrookie > 2021-07-09 08:40 | Report Abuse

Highly indebted company as usual. Terrible earnings and missed earnings. Strong sell

Posted by Papayashot > 2021-07-09 10:15 | Report Abuse

In fact, I find no reason why should we buy this company at the moment, except for those who wishes to gamble around for earning quick bucks.

Posted by star168 > 2021-07-09 21:02 | Report Abuse

Then don't buy, please

Posted by TalkC > 2021-07-12 12:15 | Report Abuse

burnt bilis. LOL

Posted by RISK8888 > 2021-07-12 13:59 | Report Abuse

aiyo, look like they want cheaper PP price, alamak....so tamak

Posted by jakeT > 2021-07-12 14:12 | Report Abuse

haha how can be same like serba... cypark is selling energy back to TNB. So u saying TNB is non-existent ke?

Posted by moremoneyy > 2021-07-12 20:45 | Report Abuse

guys, pls do take note that the company is a heavy capex intensive business. High borrowing is normal. but once their project is complete, cash flow would start coming in

Posted by foggyt > 2021-07-12 21:00 | Report Abuse

I think the reason why the gearing is so high is because of the issuance of Sukuk in the year of 2019. But Cypark SUKUK has a AA3/Stable rating from RAM ratings which premised on Cypark is having sufficient liquidity to weather construction delays and the consequential revenue loss suffered by the three solar power projects being financed by the Sukuk. It has a press release confirm by RAM, I guess the company is geared up to cater for expansion plan which will translate into earnings in the future.

https://www.ram.com.my/pressrelease/?prviewid=5550

Posted by Azam Sahlan > 2021-07-12 21:09 | Report Abuse

MCO will delay COD for LSS2 & WTE again.. after that, price should pick tick up...

Posted by LianJang > 2021-07-12 22:26 | Report Abuse

@moremoneyy i agreed with you especially the management did mentioned before they favour concessionaire projects where the project will be generating positive cashflow upon completion.

Posted by tctctc > 2021-07-13 16:49 | Report Abuse

simple rule : ESOS and PRIVATE PLACEMENT ......... i wont touch.

Posted by amet2017 > 2021-07-13 17:37 | Report Abuse

Can't touch this - MC Hammer.. Hehe

Posted by DickyMe > 2021-07-13 17:44 | Report Abuse

RAM ratings???

LOL..syiok sendiri

Posted by newtrader1989 > 2021-07-14 19:47 | Report Abuse

Esos withdrawn

Posted by James > 2021-07-15 23:59 | Report Abuse

Time to buy.

Posted by Karlos > 2021-07-16 10:25 | Report Abuse

Cypark is in the right biz of renewable energy and environmental services which is getting more important now and in the future. The high gearing is of no issue at all and expected in the sort of investments being done in Cypark. The income from these investments are very robust and long term and more than sufficient to pay the debts. In fact for say IPP type of business with guaranteed off take by a utility , the gearing of 3 or more times is normal.Again the negative cash flow is expected for company that invest in this heavy upfront capex kind of projects and also due to rapid growth and expansion of Cypark.
Cypark is currently very undervalued if we understand the company and its biz model even without factoring future growth and options. Current biz alone has value far above the current price level.
What make the current price very depressed mainly due to major shareholders/ Directors doing things detrimental to other share holders interest. This is the real perception. In addition many people don’t really understand the Cypark biz. Cypark is probably the only plc that involve in all kind of green/renewable energy projects except to this date small hydros.

Posted by AhHuat01 > 2021-07-16 17:38 | Report Abuse

@Karlos, i do agree their revenue will increase tremendously once their LSS2, 3 and WTE has gone into production. and the high trade receivables / contract is expected in such business model.

however, whats your thought on the receivables that are past due for more thn 90 days? a total of 12.4million... this is not a heathy sign...

Posted by star168 > 2021-07-16 19:04 | Report Abuse

Why suddnely up this 2 day

Posted by Karlos > 2021-07-16 20:04 | Report Abuse

@AhHuat01, the 12.3 m that passed 90 days are from long term customers of more than 5 years relationship with Cypark and any way the amount is not very significant. As rightly pointed out by you, Cypark will receive very good revenue and cash flow once those LSS 2, 3 and WTE projects are in operation.
Cypark expects WTE project at Ladang Tanah Merah to be commissioned at any time soon in the middle of this year and this project alone will generate around RM 80 m per year of revenue. In the space of renewable energy projects Cypark is the owner, developer and O&M operator not just as a contractor. In addition Cypark develop, construct. finance and operate some other companies renewable energy projects too.

Posted by risktoreward > 2021-07-21 11:29 | Report Abuse

masuk @ 0.88

Posted by Karlos > 2021-07-21 13:12 | Report Abuse

Once the construction of WtE Project at LTM is completed, expected in mid 2021, the price of Cypark will take off. Just need a bit of patience.

Posted by DickyMe > 2021-07-21 13:15 | Report Abuse

LOL, fund injection from tax payer money is the only "profit"
Somehow members in the group gets the wind to get the cut.

Posted by sephirohn12 > 2021-07-21 14:57 | Report Abuse

They cannot give a date when the WTE will start produce power? Just say need wait foreigner expert come..now Olympic also want start already.

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

In investing deep understanding of the biz is most important guide to invest or not in the company. Understand what behind the numbers will enhance our understanding of the past, current and especially future performance of the entity.
In investing always look to the future and have our own rational view and conviction.

Posted by DickyMe > 2021-07-21 16:06 | Report Abuse

No need to break head to analyse. Just look at the structure of the company and it's members will shed light on their quality. Some do have political background without much business sense.

Posted by Karlos > 2021-07-21 16:19 | Report Abuse

Then just stay away from this company and look some where else

Posted by AhHuat01 > 2021-07-21 17:41 | Report Abuse

those who invests in Cypark see a very big revenue growth in their future earning, i am talking in-terms of their recurring revenue. also at the same time possibility of securing more EPCC contract.

HOWEVER, the management is selling off their share in the expenses of minority shareholder. Cypark business model is undoubtedly good, but it is thee management who is doing shitty stuff jeopardizing the shareprice...

some might argue their receivable is high, but this is out of the question, because once the solar farm/WTE is in operation, those receivable will be paid off via selling electrify to TNB. if you want to see tremendous reduction in their receivable, wait until their plant is fully operation.

so now the question is, WHEN??? they keep postpone their Commercial Operation Date...i know this is due to covid..but still... forever no ending COO date...

Posted by mni75 > 2021-07-21 22:15 | Report Abuse

Cypark got a 60mwac floating solar farm will complete installation by October 2021 and will start sell to TNB. This project will give nearly RM200m a year. With assumption that solar will generate ppwer for 9-10 hours a day..

Posted by mni75 > 2021-07-21 22:16 | Report Abuse

RM200M a year in est revenue

Posted by AhHuat01 > 2021-07-21 23:49 | Report Abuse

Hey mni75, mind sharing where u get this information from?

Posted by AhHuat01 > 2021-07-21 23:49 | Report Abuse

I mean the 200m a year

Posted by mni75 > 2021-07-22 01:14 | Report Abuse

if 60mwac capacity of solar farm in Danau Tok Uban, Pasir Mas x 1000kwh..10hours a day..RM0.32/kwh..365 days a year..

Posted by mni75 > 2021-07-22 01:21 | Report Abuse

60mw x 1000kwh= 60,000kwh x 0.32 sen (lss2 bidding rate)/kwh= Rm19200/hour..

Posted by s3phiroth > 2021-07-22 01:49 | Report Abuse

Peak sun hour is just about 5 hours per day max and u need to consider about 15% losses when convert ac to dc.

So, 60 x 1000 x 0.85 x 5 x 0.32 x 365 = rm30 mil per annum

Posted by mni75 > 2021-07-22 08:38 | Report Abuse

30m x 21 years= 630m the whole concession period