I have some accounting query that cannot solved, hopes any 1 can help:
the contract assets is basically combine of 3 LSS2 project 50MWp each, which is yet to be COD bcz the amount never came down. (if COD, the amount will reduce and reclass to trade receivable).
Actually if wan to invest in RE related counter, can look for better RE stocks outside of Malaysia. e.g. Xinyi Solar is a much better stock to buy n hold
ya its good if Sik ady COD and the kelantan 100 MWP oso COD soon, then we can expect the upcoming QR for the period from Nov 21 to Jan 22 will be better in term of operational cash flow, since once the LSS 2 COD, by right TNB will start paying the owner, and owner will pay operator.
Right now if calculate among peers in MW of Green energy producers show that Cypark is the leader.Now and 2022 COD is expected at nearly 240MW.. largest among other companies in Green energy.So, 1st WTE in N9 (Q1 2022) + LSS2 (Mid 2022) and LSS3 (end 2022) set for completion while awaiting award for another 2 WTE for Melaka and Johor. I m very confident with Cypark. So if share price drop I keep topap and invest for long term. RM3 at the end of 2022. Plus point for Cypark is that the price for LSs2 n 3 much higher that recently awarded Lss4 at R0.17 Now Cypark in Correction Wave and have to complete it
I hope what you say will come true. I wish cypark can go higher too . a lot ppl afraid about the cash flow of cypark, even cypark seen like making huge profit, but trade receiveable is consider high, that a hiding risk maybe. Earn money but cannot received back the money. hmm
The nature of bsness. Hopefully upcoming quater we cam see improvement on cash flow and trade receiveable. Luckily, all project inside malaysia, risk of fraud very less. Like serbadk, they do a lot of ‘outside job’.
Recently they completed and cod solar project at sik, kedah. Soon WTE tanah merah and follow by lss3 project. Once they operated with positive cash flow, i believe cypark will move higher
WTE project need to invest a lot at the initial stage. It like build the highway and get the toll fees for certain agreed periods, thereafter highway need handover to government. All this amount park under intangible asset and start amortise when start commercial operation.
when will Cypark SMART WTE 20mw NS will comm? it has been delayed since 2019. there should be no more excuses as there will be no travelling ban for the experts to do testing. The delay is too long now
after the PP 2021 of 100 million shares price (90-96), was browsing thru the annual report 2021, a new shareholder emerge in top 30 shareholders. Personal who currently owns 2.55% of the company which is one of the highest individual shareholders besides the owners of the company.
noni, it depends on your definition of good. Currently, the business prospect is bright as they will increase their power generation from 49MW to 255MW by this year. And recurring income which is fix for the next 20 years. But this company has high debt ratio of 95%. Because the business model requires intensive CAPEX and their cash flow is tight currently. The shares has been diluted by 20% from last year PP and the price has been down nearly 40-50% from last year's high. In terms of shareholdings, the bigboys funds is about 35% and retail 40% and remaining balance are insiders of the company. It has been reporting positive results for the past few years. The risk im looking at is there if there will be more delays in their project commissioning this year. The other risk is inflation(current issue Russia Ukraine conflict) high rising of building materials(raw materials such as steel n etc), it will hurt their project cost that will effect their profit margin. Moving forward, the country new policy is moving towards carbon neutral nation, this will fit the bill.
AGM will be end of month and im expecting that they will announce dividend (DRP) by April and May. Entry at this price 0.80, i will say its undervalued because PE ratio is 6x vs Industry avg 20x, NTA is 2.09. Last support CL is 0.65. The investment strategy is for mid to long term and not suitable for daily trading currently as there is not much movement in terms of volume and price volatility.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
newtrader1989
1,429 posts
Posted by newtrader1989 > 2022-01-12 02:57 | Report Abuse
Serba dinamite pp at 1.55 kahaha look at now