Posted by value88 > 2022-05-27 21:25 | Report Abuse

It is weird that EPF disposed of 5mil shares before the 2 directors did. The 5mil shares are a lot as Cypark's daily transaction volume is less than that on normal day.
I noticed all the Cypark shares owned by the two directors are in the pledged account. Is it possible that the two directors foresaw they would face a margin call after the drastic drop on 24th and took the initiative to dispose before force selling comes? This is possible but not likely..

Posted by CharlieM > 2022-05-27 21:26 | Report Abuse

EPF is still hold 30+m share. Price drop 65% from 1 year high, was it margin call? Price kinda stabilised today. Company should make statement..

Posted by value88 > 2022-05-27 21:28 | Report Abuse

If there is a problem happening in Cypark and directors do not announce it to the public but disposed of their shareholdings, isn't that considered "insider trading"?

Posted by Huatexpert > 2022-05-27 21:41 | Report Abuse

Is not short sellers push down the price but the directors exit first.
Business as usual but directors urgently exit the market.
Retail investors will be the last to know what's going wrong . By that time it is too late, Price at rock bottom and register huge paper loss... Any wrong doing with Directors on the company is just few RM millions fine, that is affordable amount they can pay with huge profit get from selling their shares in the market...

Posted by meowmiao > 2022-05-27 21:47 | Report Abuse

@RISK8888 Agreed with u, i have the same thoughts

base on my observation, EPF selling on 24/5 trigger price drop and subsequet cause force selling by the director. If this is true, that explain the reason behind price fall. EPF 5mil volume enough to trigger huge drop in price (as avg volume only 1-2 mil per day).

Posted by CharlieM > 2022-05-27 21:51 | Report Abuse

Chairman, Tan Sri age 83 was substantial shareholder, ex Suhakam Chairman, ex UN Assembly President, was also UN Security Council Chairman. I will assume he is very ethical guy. Not sure what gone wrong. It’s anyone’s guess at the moment..

Posted by kenny rojer > 2022-05-27 21:57 | Report Abuse

@RISK8888 I think the same too. EPF disposed at 24 May, then both director kena force selling as look at the volume their sell most after 24 May. Not only razali, daud kena force selling too at 25/26 May.

One more point is, even they disposed alot of share, the share in their hand still alot. If really something happen, they will sell before EPF, not after.

Posted by rezzare > 2022-05-27 22:10 | Report Abuse

pledged security is margin call haha

Posted by jackjason > 2022-05-27 22:26 | Report Abuse

next round announcement will be default repayment of loan.....kekekeke!!!!!

Posted by star168 > 2022-05-27 22:38 | Report Abuse

why cypark make annouchment say that they didnt know why price drop, but in fact , the director is selling lots ticket? that cheating

Posted by meowmiao > 2022-05-27 22:38 | Report Abuse

@kenny rojer
yea, average price on 25-26/5 only 0.40, what for throw the share at the low price
looking at the shareholdings and today's announcement, the directors still holding some shares...
other than force selling, cant think of reason to sell at 0.40
Net asset RM2 per share...
all the solar farm are there, all tangible asset

Posted by star168 > 2022-05-27 22:38 | Report Abuse

bursa should take action to them

Posted by brian3381 > 2022-05-27 22:46 |

Post removed.Why?

Posted by CharlieM > 2022-05-27 22:54 | Report Abuse

Cash in the bank based on latest quarterly report is around 240m. Payment default is unlikely.

Posted by DickyMe4 > 2022-05-27 23:15 | Report Abuse

@CharlieM, damage control kah?

Posted by Fklim888 > 2022-05-28 00:42 | Report Abuse

Adui ....

Posted by Peace99 > 2022-05-28 01:31 | Report Abuse

Just an observation: In the case of the forced selling of SD director, the words "forced selling" are written in the Bursa Announcements, but no such words in the Cypark's Bursa announcements.

Posted by 股神 GS > 2022-05-28 05:32 | Report Abuse

The Edge Weekly reported that its share price collapse on concerns over its *debt & cash flow position* and its *ability to execute power projects* it has in hand(construction delays of its ongoing projects including floating Solar Plant in Kelantan and SMART WTE plant in Negeri Sembilan)

Posted by Klse2022 > 2022-05-28 06:25 | Report Abuse

RISK888
I agreed with yr view. Bosses selling most likely to PREVENT margin call. Great analysis !

Posted by Klse2022 > 2022-05-28 06:37 | Report Abuse

I am long term investor. But due to sharp share price drop since one yr ago, i was force to sell shares as per below to prevent margin call
19/5 0.12mill shares
20/5 0.13 mill shares
23/5 1 mill shares
24/5 2 mill shares.
My actions may accelerated price falling. After shares disposal, i had loss almost all of my capital....
I believe there are others investor who have similar situation, Force to sell due to price downtrend since one yr ago..

Posted by RISK8888 > 2022-05-28 07:20 | Report Abuse

Klse2022, your situation look very similar to the director. Price drop slowly at beginning. Then it came closer to margin point. Then suddenly epf big throw, director have no choice but to force sell. Pushing down the price further.

Posted by CharlieM > 2022-05-28 07:47 | Report Abuse

https://www.thestar.com.my/business/business-news/2022/05/28/cypark-shares-beaten-down#close

Yesterday, Cypark announced that RAM Rating has reaffirmed the long-term rating of AA3 for Cypark REF’s RM550mil socially responsible investing sukuk murabahah programme 2019/2041. It said the assessment has also considered the “extraordinary resolution notice” that was circulated to the sukuk holders on May 23, 2022.

“These changes, including modifications to the transaction terms and payment structure, are not averse to the issue rating. “The AA3 rating indicates high safety for payment of financial obligations. The rating outlook is maintained at ‘negative’ to reflect RAM Rating’s concerns of extended construction delays for the two floating solar plants at Danau Tok Uban beyond its stressed timeline,” Cypark points out.

Daud says Cypark expects the two floating solar projects under the large-scale solar programme two (LSS2) with 30MW capacity each, as well as its waste-to-energy (WTE) project, to start in September this year.
“The floating solar project has reached the final stage of construction, of which the floating solar system installation and interconnection works are already completed.
“The construction of Tenaga Nasional Bhd’s (TNB) infrastructure facilities is ongoing but facing some delays due to slower approval process by TNB which involves additional requirements,” he says.

On the group’s borrowings, Daud points out that 85% are long-term loans and sukuk, which are mainly for project financing for its current contracts. “The loans will be pared down by the recurring cash flow streams to be received from TNB for the sale of electricity produced by RE and tipping fees from the government.

“The project inflows are more than sufficient to repay the debts,” he says. Last year, Cypark completed a private placement of up to 20% of its total issued shares to raise up to RM108mil. Following the success of the fund raising, Daud expects the group will not require any further funding for its ongoing projects.
“Any future needs to raise funds will likely happen if Cypark secures a sizeable new concession project,” he adds.

Posted by Klse2022 > 2022-05-28 08:46 | Report Abuse

CharlieM. Ths for sharing. Considered good news. Its best if Daud can explained why he disposed his share to clear markets doubt...

Posted by star168 > 2022-05-28 09:01 | Report Abuse

now everyone loss money

Posted by yw92712 > 2022-05-28 09:31 | Report Abuse

i am just asking, is the Chairman, Tan Sri age 83 was substantial shareholder, ex Suhakam Chairman, ex UN Assembly President, was also UN Security Council Chairman somehow refering to recently 100+ marijuana plant found by police in his Bungalow? just asking..

Posted by CharlieM > 2022-05-28 09:31 | Report Abuse

Klse2022. I can only speculate why he disposed his share. If you look at the Bursa Announcement, he and the Chairman disposed Pledged Security. Pledged Security means the share was used as collateral. It could be a margin call where top up was required but no one knows for sure. We can only speculate / guess here.

If you want to know more about Pledged Security case study on what happened to Genting HK, you use the link below.

https://www.mswg.org.my/sites/default/files/4%20September%202020%20MSWG%20%20Newsletter%20%28final%29.pdf

Posted by xiaoeh > 2022-05-28 09:43 | Report Abuse

its fa is highly resembling with sd fa

Posted by Legend > 2022-05-28 09:45 | Report Abuse

Cypark Resources Bhd chairman Tan Sri Razali Ismail has ceased to be a substantial shareholder of the company, following the disposal of 7.26 million shares or a 1.22% equity stake in the renewable energy company since May 24. Razali disposed of the shares in three tranches comprising blocks of 4.78 million, 1.98 million and 500,000 shares for a total consideration of RM3.32 million. About two weeks ago on May 13, he had also disposed of another block of 500,000 shares for RM367,500.

Posted by value88 > 2022-05-28 10:19 | Report Abuse

Let's study what was the reason for the selling pressure and disposal of shares from directors?
- it was not a debt payment issue as RAM has reaffirmed its AA3 rating.
- it was not LSS2 or WTE project issues as the management has explained the reasons for the delay and these projects will commence operation in Sept 2022.
- it could not be audit discrepancy issue as it's audited FY21 annual report just published in Feb 2022, and there is no financial audit going on in Cypark now.

The BusyWeekly article (dated 28th May) pointed out that the possible reason was :
On 23 May, there was an "extraordinary resolution notice" issued to bondholders. The changes include modifications to the transaction terms and payment structure. BusyWeekly opines that this could be the reason for triggering selling pressure on the next day, i.e. 24th May.

The timing makes sense as the above was what happened one day before the selling pressure started on 24th. Busyweekly also commented that, subsequently, the short-sellers came in to worsen the selling pressure and then directors might face margin call and had to dispose of some of their shares.

What do you all think?

Posted by meowmiao > 2022-05-28 11:13 | Report Abuse

@klse2022 yes, long term investor who bought above RM1 those days... get stucked

Posted by GoldenShares > 2022-05-28 11:25 | Report Abuse

value88, good comment, the power of short selling and margin call

Posted by Investmalaysiaa > 2022-05-28 12:27 | Report Abuse

Chairman jump ship first. Good luck

Posted by shpg22 > 2022-05-28 12:31 | Report Abuse

Boss pun suda lari, ikan bilis tunggu mati ka?
This is like SERBAKD la....Version 2.0

Posted by Klse2022 > 2022-05-28 12:54 | Report Abuse

Down trend
1)from Sep 2021 to Apr 2022 .
Price drop from $1 to $0.8
2) prior to 24/5 price collapse, share prices drop continuesly for 16 days without any rebound !!
These had caused panic !!!
When Daud disposed share n announced on 17/5, his action had trigger more selling. Then, everybody started panic including me....

Posted by Johnzhang > 2022-05-28 12:55 | Report Abuse

I am a bit cautious on Cypark when the company fail to pay any dividend for years (not even a few cents) despite reporting good earnings consistently.

Posted by kl_guy > 2022-05-28 13:11 | Report Abuse

30sen coming

Posted by 股神 GS > 2022-05-28 13:39 | Report Abuse

@ Johnzhang, unlikely will pay dividend. Most money has gone to its bondholders

Posted by Klse2022 > 2022-05-28 13:55 | Report Abuse

Not all are bad news. One good news is their director En Megat had acquired 100k shares on 25/5...

Posted by Investmalaysiaa > 2022-05-28 13:58 | Report Abuse

100k shares is just RM40k. Wayang only kikiki

Posted by Klse2022 > 2022-05-28 14:00 | Report Abuse

CharlieM. Thanks for sharing Pledged security case study. Its show that if company bosses pledged their shares for funding. They may faced margin call...

Posted by Klse2022 > 2022-05-28 14:03 | Report Abuse

Encik Megat only holding 550k shares. Additional 100k means additional 20%.

Posted by Klse2022 > 2022-05-28 14:08 | Report Abuse

Anybody got friends who work in Cypark ?He Maybe able to give some comment..

Posted by Klse2022 > 2022-05-28 14:39 | Report Abuse

En Megat acquire company share can lead to 2 possible scenarios ;
1) others pay him money, just wayang
2) Cypark no big issue.
Current level is good chance to invest.
Lets think, 1 or 2 is more likely ??
Please note that Megat share is NOT in margin account. Whereas other big big bosses had pledged their share in margin acc..

Posted by Investmalaysiaa > 2022-05-28 14:48 | Report Abuse

Group ceo, chairman, epf all selling. How to twist one by one kikiki

Posted by Klse2022 > 2022-05-28 15:13 | Report Abuse

EPF dispose
1) 100k 13/5 before price crash
$0.75
2) 5 mill 24/5 during price crashing, price around $0.6
Means ;
EPF is more comfortable in 13/5 than in 24/5.
Question, why EPF NOT comfortable only in 24/5 ? Most likely is due to market crash...
This is just my speculation. Maybe wrong...

Posted by ckwee168 > 2022-05-28 15:23 | Report Abuse

Any insights on who are the key players snapping up those huge blocks of shares offloaded by EPF & directors? Any institutional players coming in? or merely retail participants only ya?

p/s : Trying to also gauge the positions of other key institutional players ..

Posted by TCH1186 > 2022-05-28 15:25 | Report Abuse

another serbadk in the making? run baby run

Posted by Klse2022 > 2022-05-28 15:26 | Report Abuse

Value88. Your point maybe possible reason. Another possibility is due to
Long term down trend(due to project delayed), worst when Daud disposed share n announced on 7/5 ,caused weak sentiment n margin call.

Posted by Klse2022 > 2022-05-28 15:30 | Report Abuse

Value88 are u sure not accounting fraud? If yes, i think this share worth buying as other issues become small (ESOS, PP, right issue, etc) with current entry level

Posted by 1pingpong > 2022-05-28 15:33 | Report Abuse

will hit below 0.10 and linger at the range