Posted by monorail > 2018-08-31 11:21 | Report Abuse

http://www.theborneopost.com/2018/07/20/fmu-holder-says-it-complies-with-relevant-laws-practices/

KOTA KINABALU: Priceworth International Berhad (previously known as Priceworth Wood Products Berhad), an investment holding company based in Sandakan, has issued a statement on the state government’s Special Task Force’s recent inspection of timber operations in Sabah.

“Following news reports in the wake of the Special Task Force’s recent inspections of timber operations in Sabah, we would like to state that Priceworth has always striven to meet the Sabah Forestry Department’s (SFD) high standards in all its operational undertakings, said its executive director, Richard Koo, in a statement yesterday.

According to Koo, Priceworth has always ensured that it has fully complied with the relevant laws and practices that apply to all our Forest Management Units (FMU) including FMU5.

“As determined by SFD, Priceworth has only harvested according to what is permitted under the approved Forest Management Plan for FMU5. Strict conditions have been imposed on any movements of harvested logs, which we observe in our operations, and have remedied whenever we have discovered any lapses,” he added.

“Moreover, we have provided a performance bond to SFD as interim security for the transit of harvested logs being sent for the proper assessment of royalties to be paid. We wish to state that we have duly paid all royalties for FMU5,” Koo said.

Posted by mkmk > 2018-08-31 11:33 | Report Abuse

Excelyou, then what is his cost for a unit share before ri and bi? How can u just calculated cost for ri and bi? His original holdings r diluted because of ri and bi....when calculating the cost... u should add up his original cost of holding that one share, add rm0.10 then divided by 4.... which u dont know exactly how much.... u post rm0.033 here is misleading ppl...

They dont need to rush for the early adoption since it is mandatory to adopt mfrs141 for quarter ended 30 sept 2018 which is just another 3 mths only... y want to rush it when it is not mandatory? And rush it at the final quarter of fy2017... do they early adopt mfrs15 too? Not mentioned in announcement isnt it? Both first year adoption in fy2018 but early adopt mfrs141 and not mfrs15 tgt... y? Both also need restrospective adjustment i think... something fishy la... use fv gain to make result looks good??? Share up and sell???

Posted by soon9913 > 2018-08-31 11:35 | Report Abuse

Thanks stockhunter for news sharing. Major illegal logs found are at kalabakan.

FMU5 is it located there?

Posted by Stockhunter85 > 2018-08-31 12:03 | Report Abuse

Qr definitely will be good if u look at monthly production report fo r april may june. Now the worry is just for production from july onwards. And whether pworth ilegal or violating their rules of logging or not.

Posted by Stockhunter85 > 2018-08-31 12:04 | Report Abuse

Will pworth have any negative goodwill from buying fmu5 in qr ? Since they bought it with discounted price. Any pro can commend on this?

Posted by Stockhunter85 > 2018-08-31 12:08 | Report Abuse

I think kalabakan is belong to other company. I dont see any subsidiary company from pworth logging there. U can check from sabah forestry website. The tongod forest reserve is belong to lebihhasil company if not mistaken. Ranau only involved 5000 log and sandakan 509 log which probably belong to pworth.

Posted by Stockhunter85 > 2018-08-31 12:08 | Report Abuse

Those log just being held for investigation. Not confisticate yet.

Posted by Stockhunter85 > 2018-08-31 12:10 | Report Abuse

New government ... what to do

Posted by mkmk > 2018-08-31 12:20 | Report Abuse

I agreed with stockhunter Q2 2018 is good.... just the outlook... y rush for new standard adoption too... y delay report.... these r the things to be clarified...

Posted by Stockhunter85 > 2018-08-31 12:32 | Report Abuse

I wonder whether is it due to the logs being held. Thats why they dont know which figure to announce?

Posted by mkmk > 2018-08-31 12:37 | Report Abuse

Thats after end of june... it will be subsequent event for disclosure...

Posted by soon9913 > 2018-08-31 12:38 | Report Abuse

The RI issue was completed in Jul and then pass the money to to complete the Fmu 5 transaction.

The transaction was not completed in Jun 18 where got negative goodwill to recognise?

Posted by soon9913 > 2018-08-31 12:40 | Report Abuse

Excelyou, their cost is more than 5 cents as they got purchase quite a lots from 20 cents and above. Please check the announcement properly ya

Posted by excelyou > 2018-08-31 12:41 | Report Abuse

mkmk, read my comment carefully.
Tan Sri applied excess of RI. “Excess”, I guess you not aware of excess, too bad.

Posted by excelyou > 2018-08-31 12:43 | Report Abuse

mkmk, read my previous comments on why PWI plan to apply MFRS.

Posted by jonbaby1234 > 2018-08-31 12:49 | Report Abuse

Con man counter...wtf !!!

Posted by soon9913 > 2018-08-31 13:04 | Report Abuse

Excess shares also wouldn't get much la to average down his holding cost

Posted by soon9913 > 2018-08-31 13:05 | Report Abuse

The price he is selling now didn't make much for him too

Posted by Stockhunter85 > 2018-08-31 13:10 | Report Abuse

Since richard koo mentioned so confidently that they comply the laws and doing legal logging. Lets pray for the best and hope priceworth will be cleared from all the investigation.

Posted by Stockhunter85 > 2018-08-31 13:13 | Report Abuse

Yea ... they purchased alot of private placement at 0.215 during end of last year. Their average price should be around 0.07 -0.075

Posted by excelyou > 2018-08-31 13:27 | Report Abuse

Soon9913,
At least 50 million excess

Posted by super hero > 2018-08-31 13:40 | Report Abuse

aiya, why malaysian investors are so simple minded haa?? in this case, you only look at one thing - FMU 5 is the biggest resources of timber harvest in Malaysia, whoever owns it for sure prosper! now ask! S&P to buy FMU 5 already done, right? Can the licence be revoked by the government? CANNOT! Can the S&P be revoked? CANNOT! then it's only matter of time PWORTH hit RM1, why care about the fuss going on at the moment? sigh!!! malaysian are mostly casino gambler la!!!!! hi there, I advise you to go gambling in Genting casino, better and faster to know whether you win or lose. don't stay around here showing your stupidity. you are insulting the definition of "investor". ok?

Posted by super hero > 2018-08-31 13:45 | Report Abuse

buy at RM0.07 sell at RM1.00 in one-two year???? good investment??? just buy and lock it in your safe lar!!! that's investment. ok???

Posted by Stockhunter85 > 2018-08-31 13:46 | Report Abuse

Good say super hero ... strongly agree with u

Posted by Stockhunter85 > 2018-08-31 13:54 | Report Abuse

Pworth probably will do better after current massive crackdown in ilegal logging by new government in sabah. Ilegal logging company will be restricted from logging. Supply will be less in market and margin will be better. Flbhd qr has mentioned this in their report.

Posted by Stockhunter85 > 2018-08-31 13:56 | Report Abuse

Just like BAT revive after new government massively control duty free cigarettes in the market.

Posted by super hero > 2018-08-31 14:01 | Report Abuse

Stockhunter85 : there are 2 types of players in KLSE share market...1) Genuine investors (me) - they know why they buy in the share, usually they don't talk much in forum like this, only once a while come patronizing and try to wake up those zombies....2) Casino Gamblers - they always put themselves in big risks, have rm1000 but buy rm200,000 worth of share for contra. these are "zombies". Give you a tip, if you want to hear what people say, only listen to genuine investor, never take it to heart what the "zombies" say. Got it all???I'm done for my comment. don't be offended, i'm just trying to help in this situation.

Posted by Stockhunter85 > 2018-08-31 14:08 | Report Abuse

Thanks for the comment ... i belong to type 1

Posted by soon9913 > 2018-08-31 14:29 | Report Abuse

Super hero well said

Posted by soon9913 > 2018-08-31 14:30 | Report Abuse

Haha showoff a bit you are investor and not zombies

Posted by mkmk > 2018-08-31 14:35 | Report Abuse

i think excel buy share count average price by batch one.... this lot 0.07 i can sell 0.075.... next lot 0.10 i wait till 0.105....

Mfrs thing i already comment so much... think u dont understand... early adoption should had been done for quarter ended 30 sept 2017 if they had such intention... but the intention only come for quarter ended 30 june 2018??? Everything happened at the same timing... And explain y no early adoption for mfrs15 which also effective for fye beginning on or after 1 jan 2018? Announcement no mention woh...

U can buy if u confident with it in 1 or 2 years.... just that things still not clear so i think it is not the right time currently..

Posted by hypeman > 2018-08-31 15:37 | Report Abuse

Look at myeg.. still doing well after PH won

Posted by excelyou > 2018-08-31 16:43 | Report Abuse

mkmk.
Yes , I count by batch if I am like Tan Sri. Margin 4.5% per annum interest to buy access RI and sell within a month with few million profit , why still hold!

You just asking why now and not early. You dont understand the rationale and definitely not in forestry industry.
Question why early adopt. You want to make life difficult!? Maybe you love to do but people don’t do it when it make no sense.

That is why MASB allow defer and defer so many times for Transitioning Entities.

Posted by mkmk > 2018-08-31 17:34 | Report Abuse

Then y they early adopt now?

Posted by mkmk > 2018-08-31 17:37 | Report Abuse

Make life difficult and delay report? Wait until next quarter only adopt la...

Posted by Stockhunter85 > 2018-08-31 19:24 | Report Abuse

I think they were waiting for gsr ptd ltd to get listed in sgx to raise the funs to pay fmu5. Unfortunately, gsr ptd ltd did not get listed yet till now. They were lack of cash to adopt ? Thats why delay? Then, they RI to get downpatment for fmu5 deposit?

Posted by tswong99 > 2018-08-31 19:50 | Report Abuse

may be the site preparation, adherence rules ,documents processing ,etc of fmu 5 has finished in the qtr ended 30/6/18, now the fmu 5 are in good-faith condition.

Posted by excelyou > 2018-08-31 20:08 | Report Abuse

mkmk,
PWI adopt now because of FMU5.

Posted by hypeman > 2018-08-31 20:24 | Report Abuse

Pworth really go big or go home counter.. dilemma now

Posted by mkmk > 2018-08-31 20:24 | Report Abuse

They have other forest plantation too, not just fmu5...

Posted by mkmk > 2018-08-31 20:24 | Report Abuse

Read their annual report pls

Posted by tswong99 > 2018-08-31 20:35 | Report Abuse

fmu5 is the most valuable of pwi forest, b4 the fmu5, their log production is low, so the other forest may be meaningless to adopt the mfrs

Posted by hypeman > 2018-08-31 20:39 | Report Abuse

tswong this counter still holland-bound or not?

Posted by mkmk > 2018-08-31 20:44 | Report Abuse

If the entire acquisition of fmu5 is complete, is it a requirement to make announcement? If they r unable to list gsr before deadline, they have to pay 40m and 200m by two tranches... have they paid?

Posted by tswong99 > 2018-08-31 20:48 | Report Abuse

i think the illegal issue is the biggest risk for pwi if it is true

Posted by mkmk > 2018-08-31 20:55 | Report Abuse

If the acquisition of fmu5 not complete too as at end of june, then the mfrs141 is for the insignificant portion lol.... just wait another week for the report...

Posted by mkmk > 2018-08-31 20:58 | Report Abuse

Honestly, they r lucky they hold their egm in may and the corporate proposal is passed....the crackdown was also happened after the due diligence...

Posted by Stockhunter85 > 2018-08-31 21:11 | Report Abuse

What if pwi was found crimeless after investigation?

http://www.theborneopost.com/2018/07/20/fmu-holder-says-it-complies-with-relevant-laws-practices/


What will happen to pwi if all those illegal logging by other company in sabah being controlled ? What will be the impact to pwi?

Posted by mkmk > 2018-08-31 21:17 | Report Abuse

If operation resumes as usual, outlook will be good... my view...

Posted by excelyou > 2018-09-01 11:19 | Report Abuse

Tswong99 understand more then mkmk.