Posted by Good123 > 2022-05-25 16:23 | Report Abuse

Business Model & Industry Issues
 Renewable energy (RE) has always been Cypark’s core business strategy i.e. it is involved in various forms of RE business, namely
solar, waste-to-energy (WTE), biogas, and biomass. To-date, the Group’s RE parks has generate ~344.5GWh of electricity, which
reduce level of carbon dioxide (CO2) by 237,704 tonnes.
 Cypark’s RE parks focus on the use of non-productive and/or non-commercial areas e.g. on landfill areas and rehabilitated
landfill areas which will not involve any additional land acquisition and tree and vegetation clearing throughout the park creation
process. To-date, it has successfully transformed 94,000 acres of non-productive, abandoned and degraded areas into
environmentally-friendly RE projects.
 It will continue to build its RE portfolio to 230MWAC by 2022, from 70MWAC currently.
In our view, Cypark's is generally well positioned in terms of ESG factors; however, the number of female Board members (none
currently) should be improved.

Posted by Lukesharewalker > 2022-05-25 16:24 | Report Abuse

Only way is down. With no buyers there won't be a rebound. Only selling upon selling...

Posted by Good123 > 2022-05-25 16:24 | Report Abuse

Swing Factors
Upside
 Sizeable job wins from EPCC work for LSS4 and NEM, and
future LSS project roll-outs.
 Growing portfolio of power generation capacity e.g. solar
PV, biogas and biomass.
 Securing more WTE projects.
Downside
 Delay in commencement of its solar and WTE plants could
affect timing of earnings and cash flow recognitions.
 Weather conditions could affect income from sale of
electricity.
 Increase in price for solar panels and inverters could
affect its solar project margins.

Posted by Good123 > 2022-05-25 16:25 | Report Abuse

Financial Metrics
 Earnings in FY22-24E to be supported by RE and WTE
segments, mainly from increase in solar PV generation
capacity and commencement of its first WTE plant, that has
stable cashflow streams.
 Targeting MYR200m EPCC job replenishment annually.
 Net gearing stood at 0.9x as of end-Dec 2021, where 90% of
its borrowings were project financing.

Posted by Good123 > 2022-05-25 16:25 | Report Abuse

Source: Company, Maybank IBG Research
1. Secures two contracts for the LSS2 in Negeri Sembilan
(May 2017).
2. Implementation of Movement Control Order (Mar 2020).
3. Signs PPA agreement with TNB for LSS3 project (May
2020).
4. Secures FiT for 51% biogas project at Ulu Remis, Johor
(Mar 2021).
5. Implementation of Movement Control Order 3 (Jun 2021).

Posted by Good123 > 2022-05-25 16:26 | Report Abuse

Value Proposition
 Cypark engages in renewable energy, construction and
engineering, green tech and environmental services, as well
as waste management and waste-to-energy businesses.
 It currently owns, operate and manages 18 domestic solar PV
farms with total installed capacity of 40MWAC. Cypark
expects to expand its solar PV generation to 230MWAC by
2022.
 Construction of its first WTE plant is near completion, and
the plant will be generating 25MW of electricity.

Posted by Good123 > 2022-05-25 16:27 | Report Abuse

GETTING CLOSE, HANG ON .... HAHA

Earnings to improve from 2H22
Cypark expects its RE portfolio to grow from 2H22 onwards, whereby it
expects to manage and operate a combined solar capacity of 230MW vs.
70MW currently. The solar PV projects for the remaining 60MW under LSS2
in Kelantan and 100MW under LSS3 in Terengganu are expected to
complete in 2Q of 2022. We also expect it to kick start its first WTE plant
in Ladang Tanah Merah, Negeri Sembilan in July 2022, given that the
project is in the last leg of completion.

Share Price MYR 0.82
12m Price Target MYR 1.35 (+69%)
Previous Price Target MYR 1.35
BUY

Company Description

Statistics
52w high/low (MYR)
3m avg turnover (USDm)
Free float (%)
Issued shares (m)
Market capitalisation
Major shareholders:

9.9%
6.0%
5.9%
596
0.2
Cypark Resources is pioneering developer and
provider in renewable energy, green tech &
environmental services, and waste management &
WTE.

BIN AHMAD DAUD
BIN ISMAIL RAZALI
Employees Provident Fund

1.36/0.79
75.7
MYR486.1M
USD116M

Price Performance

80
100
120
140
160
180
200
220
240
260
280

0.70
0.80
0.90
1.00
1.10
1.20
1.30
1.40
1.50
1.60
1.70

Apr-20 Jul-20 Oct-20 Jan-21 Apr-21 Jul-21 Oct-21 Jan-22
Cypark Resources - (LHS, MYR)
Cypark Resources / Kuala Lumpur Composite Index - (RHS, %)
-1M -3M -12M
Absolute (%) (4) (10) (37)
Relative to index (%) (3) (11) (38)
Source: FactSet

FYE Oct (MYR m) FY20A FY21A FY22E FY23E FY24E
Revenue 304 315 407 535 536
EBITDA 123 114 160 235 234
Core net profit 70 63 71 106 106
Core EPS (sen) 11.2 10.1 11.4 17.0 17.1
Core EPS growth (%) (23.9) (9.4) 12.4 49.4 0.4
Net DPS (sen) 0.0 0.0 2.9 4.3 4.3
Core P/E (x) 7.2 9.8 7.1 4.8 4.8
P/BV (x) 0.6 0.6 0.5 0.4 0.4
Net dividend yield (%) 0.0 0.0 3.5 5.2 5.2
ROAE (%) 8.8 7.0 6.9 9.5 8.8
ROAA (%) 3.1 2.5 2.5 3.7 3.7
EV/EBITDA (x) 11.0 14.7 10.0 6.3 5.7
Net gearing (%) (incl perps) 90.4 88.9 86.2 70.7 56.2
Consensus net profit - - 86 99 97
MKE vs. Consensus (%) - - (17.3) 6.7 9.2

Posted by Good123 > 2022-05-25 16:29 | Report Abuse

tHE FIGHT AGAINST SHORTSELLERS ARE ONGOING... LET'S HAVE FUN... 4.29PM, SHORTSELLERS MUST CLOSE THEIR POSITIONS NO MATTER WHAT! :)

April 1, 2022

Energy Malaysia

THIS REPORT HAS BEEN PREPARED BY MAYBANK INVESTMENT BANK BERHAD
SEE PAGE 9 FOR IMPORTANT DISCLOSURES AND ANALYST CERTIFICATIONS

PP16832/01/2013 (031128)

Abbreviations
MW – Megawatt
LSS – Large Scale Solar
WTE – Waste to Energy

Nur Farah Syifaa
nurfarahsyifaa.mohamadfuad@maybank-ib.com
(603) 2297 8675
Cypark Resources (CYP MK)
1QFY22 in-line

Maintain BUY
Cypark’s 1QFY22 core net profit came in within expectations where
earnings were at 17%/18% of our/consensus’ full year estimates. This was
also in-line with expectation of earnings improvement in 2H, upon
completion of LSS2, LSS3 and WTE. Nevertheless, we adjust lower our
FY22/23/24E net profit by 23%/10%/10% respectively, as we anticipate
delay in commissioning of WTE to July 2022 (previously April) and after
adjusting for distribution of perpetual sukuk. Our SOP-based TP is
unchanged at MYR1.35. Maintain BUY.
Within expectations
1QFY22 core net profit was MYR12.1m (-3% YoY). Our core net profit
calculation excludes the MYR3.4m distribution to perpetual sukuk.
Operations-wise, results were within our expectations as we were
expecting LSS2, LSS3 and WTE to commence in 2H22. YoY, revenue and PBT
marginally increased by 0.9% from Renewable Energy segment due to
better energy generation from most of the solar plants. PAT for 1QFY22
increased 4% YoY to MYR15.5m from lower deferred tax expenses.

Posted by gohky87 > 2022-05-25 16:34 | Report Abuse

Nooooo....hope i didnt miss the bottom..why go back up pula.

Posted by shortinvestor77 > 2022-05-25 16:34 | Report Abuse

No dividend stock. No real money to pay lah.

Posted by rezzare > 2022-05-25 16:34 | Report Abuse

steady tmr see if any 0.20 ticket

Posted by Good123 > 2022-05-25 16:34 | Report Abuse

Mungkin esok ceo akan buat pengumuman, melambung tinggi baik... Sabar ya! :)

Posted by Noni > 2022-05-25 16:34 | Report Abuse

GLC? No UMA because?

Posted by Good123 > 2022-05-25 16:35 | Report Abuse

Taktik tangan ghaib bersubahat untuk menjadi kaya dengan cepat ataupun dana untuk pru 15... Syiok :)

Posted by TalkC > 2022-05-25 16:35 | Report Abuse

Good123

Mungkin esok ceo akan buat pengumuman, melambung tinggi baik... Sabar ya! :)

7 seconds ago


Talk talk talk.. TNB mau BELI Cypark? Itu Daud & Razali ada lagi?

Posted by rezzare > 2022-05-25 16:35 | Report Abuse

many institution need to cut loss

Posted by Noni > 2022-05-25 16:36 | Report Abuse

Habis la, EPF dividend for 2022 .....

Posted by Good123 > 2022-05-25 16:36 | Report Abuse

Ceo akan memberitahu bahawa segalanya adalah normal dan boleh dikawal dan diuruskan dengan baik... Melambung serta merta esok... Tunggu je lah :)

Posted by TalkC > 2022-05-25 16:37 | Report Abuse

Ada annoucement..

https://youtu.be/kPk5XpL81lw

Posted by whizzkid > 2022-05-25 16:37 | Report Abuse

ini amoy mayak trick looooo...sedap.

Posted by Good123 > 2022-05-25 16:38 | Report Abuse

Cypark bukanlah syarikat sebarangan... Analyst coverage by maybank dan public bank, bergaya tahu haha

Posted by Good123 > 2022-05-25 16:39 | Report Abuse

Esok ceo beritahu segalanya adalah normal. Harga syer pun balik normal lah.. haha

Posted by icecool > 2022-05-25 16:40 | Report Abuse

rebound

Posted by TalkC > 2022-05-25 16:41 | Report Abuse

Good123

Esok ceo beritahu segalanya adalah normal. Harga syer pun balik normal lah.. haha

51 seconds ago

Sudah click link atas?

Posted by BursaVulture > 2022-05-25 16:41 | Report Abuse

Lou Sai Park

Posted by Good123 > 2022-05-25 16:41 | Report Abuse

Segalanya dah dirancang kot? Pru15 makin dekat, dana diperlukan bukan? Hahahaha

Posted by gohky87 > 2022-05-25 16:41 | Report Abuse

TalkC

Ada annoucement..

https://youtu.be/kPk5XpL81lw

Good analogy lol

Posted by whizzkid > 2022-05-25 16:42 | Report Abuse

my my my 34,000 Baht manyak best ini punya amoy...2 talun tarak kena...bg kaw2...

Posted by rezzare > 2022-05-25 16:42 | Report Abuse

fried lobster lorrr hahaha

Posted by Good123 > 2022-05-25 16:43 | Report Abuse

Rancangan mereka sungguh indah ... :)

Posted by TalkC > 2022-05-25 16:43 | Report Abuse

abang DAUD.... Abang Raz... Mane u all pigi? Sampai Lobser korang pun mau lari pigi hot wok..

Posted by Good123 > 2022-05-25 16:45 | Report Abuse

Esok mereka akan menjawab bursa, tak tahu siapa main syer kami. Operasi kami normal je haha

Terbang balik... Retailers kejar haha

Posted by lalazai9 > 2022-05-25 16:45 | Report Abuse

Serbak, sapura, cypark, wat next?

Posted by TalkC > 2022-05-25 16:46 | Report Abuse

Good123

Esok mereka akan menjawab bursa, tak tahu siapa main syer kami. Operasi kami normal je haha

Terbang balik... Retailers kejar haha

1 second ago


Alamak. TNB mau acquire kita RM1.9.. kita tengah nego lagi

Posted by jackjason > 2022-05-25 16:49 | Report Abuse

"lau sai" lor. hoho!!!

Posted by BursaVulture > 2022-05-25 16:49 | Report Abuse

This one same pattern like ATA.... insider selling like crazy. ATA was sold like crazy for 1 week and then only bad news come out. You guys better get ready.

Posted by rezzare > 2022-05-25 16:49 | Report Abuse

close 0.38 tmr limit down can jadi 0.08 huat ahh!

Posted by BursaVulture > 2022-05-25 16:49 | Report Abuse

confirm got big bad news, if not, wont sell down until like this

Posted by pang72 > 2022-05-25 16:49 | Report Abuse

What happen wo?

Posted by pang72 > 2022-05-25 16:50 | Report Abuse

Ini serba 2

Posted by TalkC > 2022-05-25 16:52 | Report Abuse

IDSS yummy today

Posted by williamtkb > 2022-05-25 16:56 | Report Abuse

Today abang daud offloading again. Congrats to IDSS guys. Tomorrow continue again. Some thing big coming.

Posted by Legend > 2022-05-25 16:59 | Report Abuse

Tomorrow breakfast roti telor goyang saja

Posted by TalkC > 2022-05-25 16:59 | Report Abuse

illiamtkb

Today abang daud offloading again. Congrats to IDSS guys. Tomorrow continue again. Some thing big coming.

1 minute ago

Abang DAUD + Abang Raz combo... Kasi bilis masuk hot wok.. haha..

Abang Daud so happy now.
https://www.facebook.com/photo/?fbid=4959697097413464&set=pcb.4959697450746762

Posted by star168 > 2022-05-25 17:06 | Report Abuse

hahaha facebook photo also kena ambil to commet, haha

Posted by anthonytkh > 2022-05-25 17:08 | Report Abuse

I’m actually curious why there’s no UMA when EPF is a major shareholder

But the company hasn’t been healthy. Bad leverage (liabilities more than equity)

I have to assume insiders knew the MOUs with Huawei and the Govt have been terminated. Just a guess……..

Posted by amateurJR > 2022-05-25 17:10 | Report Abuse

walao what happen to this stock?

Posted by star168 > 2022-05-25 17:12 | Report Abuse

nothing annouchment , that is no fair to shareholder.

Posted by CUTLOST > 2022-05-25 17:17 | Report Abuse

Green mode Bot 35cts

Posted by nickick > 2022-05-25 17:18 | Report Abuse

feel like crying