Posted by Stockhunter85 > 2018-09-05 22:58 | Report Abuse

so the report will same like hibiscus 1 after acquired north sabah oil platform?

Posted by mkmk > 2018-09-05 23:00 | Report Abuse

They acquire the company, fmu5 is just an asset in that company... dont know what is the other asset n liabilities on that company’s book.. negative goodwill is the excess of fv of net assets of the acquired company over the acquisition consideration.....so u know fv of fmu5 only so far...

Posted by mkmk > 2018-09-05 23:01 | Report Abuse

As said previously, dont think they can recognise the acquisition in qr coz they didnt recognise it after signing spa in oct 2016...

Posted by mkmk > 2018-09-05 23:02 | Report Abuse

I didnt follow hibiscus oh.... went up n drop now is it?

Posted by mkmk > 2018-09-05 23:05 | Report Abuse

Ok i saw the news u shared... perhaps they can recognise it in quarter ended june since approval was sought in may 18.... hopefully...

Posted by hypeman > 2018-09-05 23:07 | Report Abuse

mkmk.. so got hope or not

Posted by soon9913 > 2018-09-05 23:11 | Report Abuse

Tomorrow q 0.065

Posted by soon9913 > 2018-09-05 23:11 | Report Abuse

Yeah

Posted by mkmk > 2018-09-05 23:12 | Report Abuse

I dont have details... i m not sure if it can be recognised in quarter ended june... for me they cant recognise coz they still dont know they use cash option or listing of gsr method... the consideration is different.... but the cash option extended to 31 july... any further extension???

Posted by Stockhunter85 > 2018-09-05 23:14 | Report Abuse

Ya ... hibiscus report is fanstastic with got 90millions as negative goodwill as profit in their report because they bought in north sabah platform will lower market value. Negative goodwill is a one time profit ... so market usually wont price in 1 eventhough the profit is alot. But, i think it will increase the company NTA. Its still good for the company
. Correct me if i m wrong

Posted by mkmk > 2018-09-05 23:15 | Report Abuse

Stockhunter, under an efficient market... it will already priced in the negative goodwill in the share price la when pworth announce the acquisition of fmu5.... where got wait until the result out de... their price sure went up d la when announcement was made for the deal..

Posted by mkmk > 2018-09-05 23:16 | Report Abuse

Yes, u r right but share price would have already affected when they made such announcement..

Posted by Stockhunter85 > 2018-09-05 23:17 | Report Abuse

Initially they wanted to collect the fund for FMU5 from listing GSR in SGX, unfortunately its not done in time. So they opted another method which is Right issue to collect money to pay FMU5

Posted by Stockhunter85 > 2018-09-05 23:18 | Report Abuse

True ... thats why PE was 40 during end of last year after they annouced the news of FMU5

Posted by mkmk > 2018-09-05 23:19 | Report Abuse

Tahts means acquisition completed in july lo.. can recognise? No idea..

Posted by Nicholasming91 > 2018-09-05 23:19 | Report Abuse

Yea they wanted to collect 120m for the fmu5. Probably this part that might cost them

Posted by Stockhunter85 > 2018-09-05 23:21 | Report Abuse

High PE stock will drop without brake when some bad rumours or news appear. Actually the pe now is around 15 ... just reasonable. But the share price potential to surge up is very high after all the rumours are cleared. Provided company fundamental is still intact

Posted by mkmk > 2018-09-05 23:23 | Report Abuse

If one off gain of 150m recognised. It means naps of ard 0.13-0.14.... but even now before acquisition ard 0.10-0.11 also drop to 0.045 lo....

Posted by Stockhunter85 > 2018-09-05 23:23 | Report Abuse

FMU5 is for 79 or 100 years ... long term prospect is good. company outlook is still bright if they r not conman and get delisted.

Posted by mkmk > 2018-09-05 23:24 | Report Abuse

If the license is revoked, byebye lo...

Posted by mkmk > 2018-09-05 23:26 | Report Abuse

If forestry department dont issue cutting license i think also gg lo...

Posted by Stockhunter85 > 2018-09-05 23:28 | Report Abuse

Ya mkmk. All the high pe stock will drop like shit when there is bad news or rumours on them. Pworth is at pe of 13 with current share price of 0.45. Its just reasonable and probably abit under value. U can refer all the company in timber industry and u will roughly know where pworth should stand. Flbhd pe 12 taan 18 ...

Posted by Nicholasming91 > 2018-09-05 23:29 | Report Abuse

if sabah stops logging , other than oil no other major income already.. logging should continue... in a controlled manner, but fmu5 is one of the protected forestry.. hopefully all is well

Posted by mkmk > 2018-09-05 23:30 | Report Abuse

Good luck.... wait qr for more info...

Posted by Stockhunter85 > 2018-09-05 23:32 | Report Abuse

Erm .... i dont think their license will get revoked. Now macc and special force task team just investigating whether they paying tax for the log harvested and whether they logging into the area where logging i prohibited right?

Posted by Stockhunter85 > 2018-09-05 23:33 | Report Abuse

And Fmu5 is memang for logging what

Posted by mkmk > 2018-09-05 23:35 | Report Abuse

No matter how is the outcome of the investigation, current operation is affected n pworth nvr make announcement on this... i also wonder how long can they drag... really not material?

Posted by Stockhunter85 > 2018-09-05 23:35 | Report Abuse

https://www.thestar.com.my/business/business-news/2018/09/03/ta-ann-upbeat-on-future-prospects-of-logging-business/

Posted by FIRE35 > 2018-09-05 23:37 | Report Abuse

curious why those claimed to have insider news not receive the so called "insider news" before 30Aug. They should happily sold all before 30Aug

Posted by mkmk > 2018-09-05 23:38 | Report Abuse

Stockhunter, u know how ppl do illegal logging nowadays? Cut other ppl area or prohibited area and report it as their own area for royalty payment.... like doing money laundering to wash the illegal to legal... so we wouldnt know...

Posted by Stockhunter85 > 2018-09-05 23:38 | Report Abuse

Forest management unit FMU is memang for logging. Just they need to do it in proper way.

Posted by Stockhunter85 > 2018-09-05 23:41 | Report Abuse

Erm ... pworth is a listed company. I think they wont do so la. They are not some ciplak small logging company. And if they r found ilegal , i guess bursa will have official announcement.

Posted by mkmk > 2018-09-05 23:42 | Report Abuse

Pray for the best la...

Posted by Nicholasming91 > 2018-09-05 23:43 | Report Abuse

Yes thats what i meant. If they take the logging for granted (illegally) and did not pay tax. If they willing to pay the tax should be fine. But we dont know yet

Posted by Stockhunter85 > 2018-09-05 23:43 | Report Abuse

Now the storm hit whole timber industry in sabah , i think more than 10 companys being investigated. Not only pworth. Just wait patiently for everthing over

Posted by Stockhunter85 > 2018-09-05 23:46 | Report Abuse

http://dailyexpress.com.my/news.cfm?NewsID=125895


Stockhunter85 “Properly managed, FMU5 has the potential of producing more than RM1bil worth of LEGAL, CERTIFIED timber over the next decade based on the independent forester’s estimate.

koo mentioned in thestar newspaper dated 6/8/2018

https://www.thestar.com.my/business/business-news/2018/08/06/fmu5-is-w...
31/08/2018 03:27

https://www.nst.com.my/news/nation/2018/07/392108/more-10-firms-suspec...

http://www.forest.sabah.gov.my/discover/167-tlas/544-issued-cert-princ...-5-6

https://www.thestar.com.my/news/nation/2018/07/18/more-than-10-glcs-an...

http://dailyexpress.com.my/news.cfm?NewsID=125895

http://www.dailyexpress.com.my/news.cfm?NewsID=126305


* hope this will help u all ... the most number of logs involved is at kalabakan. FMU5 is at ranau. Tongod and kalabakan got the most log being investigated.

Posted by Nicholasming91 > 2018-09-05 23:46 | Report Abuse

Haha west malaysia lagi syok ok.. u good good friend with pahang sultan, happy happy him, give u log the whole forest also can. But now government change alrdy so hard for illegal loggers already

Posted by Stockhunter85 > 2018-09-05 23:47 | Report Abuse

i think richard kooo did mentioned to press they paid tax and sent every harvested log for forestry department for inspection before they export

Posted by Stockhunter85 > 2018-09-05 23:48 | Report Abuse

Unless richard koo lie to us lo .... dont know what he said is reliable or not. Judge yourself

Posted by Nicholasming91 > 2018-09-05 23:51 | Report Abuse

http://www.sarawakreport.org/2018/08/king-gone-sabahs-chief-conservator-of-forests-booted-out-at-last/

This is about the logging news i read that day

Posted by Stockhunter85 > 2018-09-05 23:53 | Report Abuse

Actually its good news if government take action on all the illegal logging company. Provided pworth is not one of them. The supply of log will be less in market, and margin will be higher after all these investigation over. If u read through fajar taann flbhd jtiasa report, u will know limited log supply is always the main problem for them. i think now indonesia also cut down their supply alread y while for sarawak, i think they will have some extra tax if they export timber product.

Posted by Nicholasming91 > 2018-09-05 23:53 | Report Abuse

Koo is just a puppet.. the real one is lim nyuk foh (andrew lim)

Posted by ShannonJY > 2018-09-05 23:57 | Report Abuse

Hi guys, I'm new to this forum. The only thing I can say is "QR is not that good" .. if you guys wait for the QR to boost the share up.!!! Just give it up for that =).... tml is the last day for trading.!!

"Sabahan know how to do accounting =)"
"FMU5 is eligible to cut 60cm up only...!! however they extract 3 logs " mother tree" 120cm above. And lot of the logs that's below 60cm.... the license will be suspend sooooon. Just take your time..=)

Posted by kakashi > 2018-09-06 00:31 | Report Abuse

Shannon... sure bo...u in genjutsu is it

Posted by Stockhunter85 > 2018-09-06 01:04 | Report Abuse

FMU (Forest Management Unit) No.5 Trusmadi Forest Reserve (Class II)
1. Lately, many concerns and criticisms have been expressed through the social-media, asserting that Gunung Trusmadi, the 2nd highest mountain in the country, will be affected by logging. Such a concern is appropriate. However, and unfortunately, it has been soiled by misfacts, distortions, and misinformation.

2. The facts are as follows:
(i) Trusmadi Forest Reserve was first gazetted as a Class II (Commercial Forest Reserve) in 1961, covering 175,897 hectares. From then onwards, it had been licenced and re-licenced for short term logging at least twice or more.

(ii) At one time, the peak of Mt Trusmadi was also licenced for 25 years as part of a concession licence.

(iii) In 1997, under the newly launched SFM (Sustainable Forest Management) forest policy, Trusmadi Forest Reserve ( 175,897 ha.) was split into 2 management units – FMU10 (74,736 Ha.) left for conservation, but still under Class 2 and the balance as FMU 5 (101,161 Ha., licenced under the FMU system for 100 years and to follow the model of Deramakot. It was licenced to Anika Desiran Sdn Bhd, one of the (10) pioneer licencees, chosen by the government at that time.

(iv) Unfortunately, the Licensee failed to meet its obligations, in that, little work was carried out on the ground except for some forest tending or silviculture and the establishment of a 600 hectare (approx.) rubber plantation. The rubber plantation failed due to physical and climatic reasons. No real harm was done because there was little or no logging allowed by the government. This stagnant situation persisted for at least (20) years. However, in another sense, it was a blessing in disguise because the forests grew back due to little disturbance except for community encroachments.

(v) In the meantime, to strengthen conservation and for the security of tenure of FMU 10, the other portion of Trusmadi Forest Reserve and unlicenced, was proclaimed by the Rt Hon CM, Datuk Sri Panglima Musa Haji Aman as a Class I (protection) forest reserve in 2014 and to be directly managed by the Forestry Department purely for protection and conservation.

(vi) FMU 10 also received the coveted award as a “well managed forest” under the Gold Standard of the FSC (Forest Stewardship Council) in 2015.

(vii) To distinguish the Class I and Class II areas, the Trusmadi Forest Reserve portion of FMU10, was renamed Nuluhon Trusmadi Forest Reserve – Class I. This is where Mt Trusmadi and its sister peaks are sited – in Tambunan. Not in FMU 5 – Ranau. Mistaken identity may be (1) reason for the confusion.

(viii) The State Government also canceled and revoked all licences issued by a previous government, that covered Nuluhon Trusmadi Forest Reserve (class I ), including the bizzare “Peak Licence”.

(ix) The next burden to be addressed was FMU 5, licenced to Anika Desiran Sdn Bhd.

(x) The licencee appealed to the government that they be allowed to go into partnership with a 3rd party who have successfully embarked on the management of their own FMU licenced area, subject to whatever conditions the State Government may wish to impose apart from what are in the Licence Agreement. This was in 2016.
(xi) In principle, this has been agreed subject to more stringent measures to protect the environment that include the following, amongst others.

(a) The licencee surrenders 12,241 ha. of good forests in its northern border with FMU10 (Nuluhon Trusmadi Forest Reserve) to be fused with FMU10 and made into a Class I protection forests. This exercise was completed at the November 2016 State Assembly, making Nuluhon Trusmadi Forest Reserve now 86,977 ha. (74,736ha + 12,241ha). In addition, the government gazetted 1,068 ha of stateland, in Tambunan and also fused it with FMU 10. This new reserve, gazetted in 2010 called Kiluyu Forest Reserve of 1,068 ha. is now managed under FMU 10, making a totally protected management area of 88,045 Ha.

With the excision, the Anika area is now only 88,920 ha, a reduction of 12%.

(b) Riparian reserves are now widened to 50-100m depending on the width of rivers and waterways, from a standard 30m – a 50% to 300% widening of buffers.

(c) Only NFM (Natural forest management) can be practiced. If there is need for planting in highly degraded areas with conversion, this is restricted to indigenous species only and needs prior verification and a comprehensive planting plan (CPP). The gross area will be no more than 10,000 ha.

(d) Ril (Reduced Impact Logging) is compulsory, using mostly winched cable systems – e.g. Log Fisher, Cable Yarders.

(e) Prohibited species remain protected with the addition of (2) new species, i.e. Oaks and Chestnut species which are fruit trees.

(f) HCVS (high conservation value areas) are to be excised from CHPs (comprehensive harvest plans).

http://www.forest.sabah.gov.my/media-centre/broadcast/press-release/657-fmu-for

Posted by Stockhunter85 > 2018-09-06 01:08 | Report Abuse

FMU5 is not for reserve ... Its for logging

Posted by ALI IDRIS > 2018-09-06 02:40 | Report Abuse

Noted with many thanks Stockhunter85

Posted by hellriser > 2018-09-06 04:53 | Report Abuse

I think Rashid knows its going to get suspended..thats why he sells some to unlock some money..the rest of his holdings he just wait until the report comes out later.. He has holding power to wait,n he knows the result will be good.just late..

Posted by Nicholasming91 > 2018-09-06 07:07 | Report Abuse

Good luck to all of us . Stay calm

Posted by mkmk > 2018-09-06 08:34 | Report Abuse

Stockhunter, do u know the opration at fmu5 now stop d?