Posted by Abilakh > 2018-01-23 09:55 | Report Abuse

http://www.theedgemarkets.com/article/trump-slaps-steep-us-tariffs-imported-washers-solar-panels

Posted by cheeseburger > 2018-01-23 12:20 | Report Abuse

this counter is really hopeless...

Posted by Nigel Low > 2018-01-25 01:51 | Report Abuse

The US solar tarriffs is going to have a huge impact for exporter.

Posted by cheeseburger > 2018-01-25 10:57 | Report Abuse

sell..

Posted by cheeseburger > 2018-01-25 13:55 | Report Abuse

https://www.thestar.com.my/business/business-news/2018/01/25/malaysia-pv-exporters-to-be-impacted-by-us-tariffs/

Guess this news will send TS further into deep bottom...

Posted by cheeseburger > 2018-01-25 13:55 | Report Abuse

US tariffs to hit Malaysia PV exporters most
Read more at https://www.thestar.com.my/business/business-news/2018/01/25/malaysia-pv-exporters-to-be-impacted-by-us-tariffs/#PBHgwMypwB5eL06f.99

Posted by cheeseburger > 2018-01-25 13:56 | Report Abuse

cut loss dont wait...

Posted by bfg9000 > 2018-01-25 18:32 | Report Abuse

Anyone who can attend their coming AGM, the following questions need to be asked. Or if the management is proactive enough, have a deep think about it and engage the analyst community:

1. What is the impact of Gintech, Solartech and NSP merger on the solar segment demand outlook considering SolarTech is a JV partner in TS SolarTech and buys most of the cell. Supply chain consolidation was flagged as a key area of synergy for the merger of the parents, and what if TS SolarTech have been marked for phase-out from the supply chain, this is material information for shareholders.

2. What is the percentage of current shipment from the remaining lines are going to the US; and the forecasted impact of the 30% tariff. Did TS SolarTech's customer build up module inventory shipment to US in the last few months and will this leads to slowdown in orders for the remainder of this year.

3. Are the concentrated effort to build market to the rest of the world to fill the anticipated fall in demand from the United States, and when will these materialise into order books.

Posted by bfg9000 > 2018-01-25 18:34 | Report Abuse

Without clear information from the management, I would recommend that investors looking into their forthcoming Q4'17 results to discount any improvements in Solar business segment as the effect of question (2) above which is due to a one off effect of building tariff free inventory into US and will leads to underperformance in Q'18 onwards.

Posted by sasword > 2018-01-29 11:38 | Report Abuse

Still a con counter, better join stupid gov to go con ppl, bloody hell.

Posted by bfg9000 > 2018-01-29 15:43 | Report Abuse

I won't say they are cons. The previous run up were driven by fundamentals (conversion to solar cell manufacturer). They were too aggressive (building a big new plant) but slow to react when the market shifts. Ended up pretty ugly (short notice termination of employees, firing off people by SMSs etc that made the press). At least they were able to off load 1 manufacturing line rather than let it idle by selling it back to the manufacturer (I found that recognizing it as revenue is a bit funny). Now there is a new, very negative shift in the fundamental of their solar segment which is suppose to drive revenue and profit going forward; and I'm not convinced that they have a game plan.

Posted by ding dong > 2018-02-04 09:39 | Report Abuse

waaaa like this all are dead end....can sell the factory to besi burok.....

Posted by Mohd Fahmi Bin Jaes > 2018-02-04 09:45 | Report Abuse

No hope

Posted by ding dong > 2018-02-04 09:46 | Report Abuse

soon the taukey also cabut. MIA ooooo

Posted by Mohd Fahmi Bin Jaes > 2018-02-04 09:49 | Report Abuse

https://www.cnbc.com/2018/02/02/us-futures-move-lower-as-investors-worry-about-rising-yields.html

Posted by bfg9000 > 2018-02-05 10:45 | Report Abuse

SolarTech (JV Partner) Financials - Revenue (x100M NTD) / MoM% / YoY% / Accumulated Annual Revenue / Accumulated Annual Rev YoY%
January 3.88 -22.16% -65.13% 3.88 -65.13%
February 4.49 15.74% -51.15% 8.37 -58.80%
March 4.59 2.32% -58.96% 12.96 -58.86%
April 5.32 15.75% -50.82% 18.27 -56.80%
May 5.98 12.62% -35.58% 24.26 -53.02%
June 6.71 12.19% -34.08% 30.98 -49.89%
July 6.15 -8.37% -7.36% 37.13 -45.77%
August 5.36 -12.91% -7.96% 42.49 -42.80%
September 6.23 16.39% 38.85% 48.73 -38.15%
October 5.82 -6.64% 26.27% 54.56 -34.58%
November 3.61 -37.98% -50.96% 58.17 -35.91%
December 4.65 28.75% -6.65% 62.82 -34.39%
January 4.35 -6.47% 12.17% 4.35 12.17%

Q317 1774M NTD
Q417 1408M NTD

Plus January is sequential drop as well. Hard to see any good news. Even if there are some adjustment for a good Q4 numbers, the solar segment will find it tough to turn around.

Few more questions for investors going to their AGM:
1. What is their roadmap for the solar segment? In a world going towards PERC cell technology, they are continue to make non-PERC cells while depreciating relatively new production line.

2. Do they have any plans for CAPEX for retooling to PERC? Their new parent UREC (Gintech, Solartech and NSP merged entitiy which will comes into being officially in March) is going to be PERC heavy, and any legacy capacity especially not wholly owned will be in danger.

I doubt they have any plans other than keep on making the same thing.

Anyone holding may as well just write off the solar part and value the counter just based on the other segments.

Posted by Christiano88 > 2018-02-27 17:51 | Report Abuse

result out liao

Posted by Angangang > 2018-02-27 18:02 | Report Abuse

good result...

Posted by Romyzam > 2018-02-27 18:30 | Report Abuse

Wow. What a turn around story...

Posted by noah > 2018-02-27 19:31 | Report Abuse

I was wondering how is it possible to make a such huge turnaround.
And after some digging, the results come out!!

Profit RM24m
Compensation received from a customer * RM59.7m
So don't count this one off compensation = (RM35m)

* Compensation amount comprised mainly the agreed payment of damages/ liquidated damages by a customer who failed to load minimum order quantity of solar cells to TS
Solartech Sdn. Bhd., a subsidiary of the Company pursuant to the terms and conditions of a manufacturing and supply of solar cell contract dated 8 October 2015 between TS
Solartech Sdn. Bhd. and the said customer.

Posted by A1688 > 2018-02-27 20:42 | Report Abuse

Fabulous

Posted by Sebastian Sted Power > 2018-02-27 20:54 | Report Abuse

24mil profits still a lot! Ah Seng hebat

Posted by bfg9000 > 2018-02-27 23:26 | Report Abuse

Don't need to dig, the reason is in the quarterly report.

60M is compensation. This is a one off payment and not recurring. So next quarter will get 0 compensation.

Without that, solar segment is a 11M loss in Q4 and will continue to bleed money. That is the nature of Solar business in 2018.

Every other segment is doing worse in terms of revenue; and have been under invested and neglected over the last few years as Solar drains management attention.

Nett profit is lower because management took the chance to pay off debt with the compensation. Chinaman will love this "debt free company".

Hard reality is the management is out of ideas and have absolutely no idea where to invest in.

Module line investment used to be a no brainer. Now it could well be a much bigger drain of money.

Someone please ask this to then at the coming AGM. Can't join as far away from Penang.

Will take this chance to sell into (temporary) strength

Posted by dompeilee > 2018-02-28 09:06 | Report Abuse

Bought some TekSeng @ 41c @ the open this morning.

Posted by Stockwiser > 2018-03-01 10:23 | Report Abuse

There are so many counter outside. Why die die go and stuck at this rubbish counter??

Posted by Stockwiser > 2018-03-01 17:39 | Report Abuse

Dun buy this counter if u r smart enough. It is just a hopeless one.

Posted by Bullorbear777 > 2018-03-01 19:09 | Report Abuse

Stockwiser why keep talking bad about this counter? Trying to press down the price further and buy more?

Posted by Mohd Fahmi Bin Jaes > 2018-03-01 19:11 | Report Abuse

Down

Posted by Stockwiser > 2018-03-01 23:58 | Report Abuse

Buy more? Are you kidding. Unless you got lot of money dunno where to spend.

Posted by Stockwiser > 2018-03-02 10:39 | Report Abuse

Rubbish

Posted by Bullorbear777 > 2018-03-02 11:18 | Report Abuse

Wow, chill, why triggered? It's not like your money tho

Posted by Stockwiser > 2018-03-02 11:52 | Report Abuse

Yeah, bro bullorbear 777 it is time for you to sapu. Hahaha

Posted by Stockwiser > 2018-03-02 12:10 | Report Abuse

http://tc.solartech-energy.com/invest/report-mon.aspx?Y=2018

Posted by Stockwiser > 2018-03-02 12:11 | Report Abuse

Before you buy, welcome to refer their recent feb result.

Posted by Stockwiser > 2018-03-02 12:14 | Report Abuse

Those said hebat or fabulous is going to regret. This year is not the solar year.

Posted by Bullorbear777 > 2018-03-02 12:57 | Report Abuse

You asked me to sapu then I have to sapu? Who are you? But I will once it shoot down to below 0.3

Posted by Stockwiser > 2018-03-02 13:22 | Report Abuse

Can't expect still got ah seng supporter here. Good luck guys.

Posted by M16s > 2018-03-05 09:49 | Report Abuse

Wow, long time did not c this counter. Still like deadfish. Those who not willing to cut loss, have to hold another 2 to 3 years maybe. Jialak.

Posted by M16s > 2018-03-05 11:34 | Report Abuse

The whole result is pretty bad, solar segment lose 46m, saved by the other operating income 72m, without this company operation still lose 22m !!!.

Posted by bfg9000 > 2018-03-06 18:55 | Report Abuse

Actually the problem is we can't even look at SolarTech (Taiwan) results as reference anymore as they are loading minimally to Tek Seng fab, and rather pay the compensation for not loading.

Options for Solar Segment is not pretty after SolarTech merged.

TS can build module lines (more capex) and try to sell the modules themselves. They have no offices and distribution channels inside and outside Malaysia (it was all down by SolarTech). They will invest and not get anything going for years and years.

Or they can look for buyers of solar cells - but most players are integrated with both solar cell and module factory together and don't need their products.

Their non-PERC cells is no longer competitive and they cannot invest on upgrades alone without partner as their partner is no longer interested and other potential partners from Taiwan have all merged with each other.

They have a huge building for at least 8 lines. They put in 4 lines and have to sell one back. 3 lines, not loaded much,paying for the whole building's depreciation.

Only nice thing about TS is 0 debt. Flip side of it is its not going to do any expansion to save them from this tough situation.

Another problem with Malaysian stocks is no obligation to inform shareholders on a quarterly basis. That's why I encourage anyone who can go to their AGM to ask some really tough questions.

Posted by Bullorbear777 > 2018-03-06 19:25 | Report Abuse

Some1 please keep attack this counter, below RM0.3 I will all in

Posted by Stockwiser > 2018-03-07 11:06 | Report Abuse

It cannot go up in the near future. But it is highly possible to drop Gao gao for their poor segment result. If you are so zai enough, please go and buy it.

Posted by bfg9000 > 2018-03-07 13:41 | Report Abuse

This counter did have great potential, but probably the wrong strategy and the wrong partner. At least they should still get some money from their partner if they choose not to load. But that's not a long term strategy (if it could be called a strategy)

The best exit plan will be to look for another strategic partner. There are very limited global company wiling to continue invest in Malaysia (even less who want to invest in a 3rd party manufacturing partner). But there is still, and surprisingly for highly integrated companies, solar manufacturing in Malaysia is still competitive vs their China operations.

Hint: Look for partner who can use the 210 MW as installed, and jointly invest to build it up to 560MW+. The carrot is they lower the partner's CAPEX, and TS finds a buyer for its cells. Module capacity are way cheaper and easier to build so let someone handle that.

Posted by Stockwiser > 2018-03-07 16:01 | Report Abuse

Bfg9000, you should go in to become MD.

Posted by Stockwiser > 2018-03-07 16:02 | Report Abuse

Do you think the current price is undervalued?

Posted by bfg9000 > 2018-03-07 16:30 | Report Abuse

Cannot... Industry insider.. plenty of conflict of interest. Actually there are a few companies that could benefit with a cell factory in Malaysia (for European volume, now we are taxed for US as well). There is no need to go it alone.

The MD actually is doing a pretty good job keeping cost down - previous benchmark their labour costs are very low - that is why I believe they could be a good fit even for mainland Chinese firms. The only problem for us trying to valuate them externally is that the clause for compensation in their contract with SolarTech and if it forbids them from partnering with other players (the Management should really go renegotiate that)

Based on the last few media updates breakdown on overall revenue and shipment numbers they were competitive, but they stopped talking and the market have become very different over the last 1-2 years. We really need some good answers from their management; and good questions to get them to buck up and deliver.

Posted by Bullorbear777 > 2018-03-07 18:08 | Report Abuse

I am ready when it hit below 0.3

Posted by spectre007 > 2018-03-13 16:34 | Report Abuse

Come throw to me. I waited for long time at 37

Posted by Stockwiser > 2018-03-13 16:36 | Report Abuse

http://www.orientaldaily.com.my/s/235000 solar???

Posted by eklim65 > 2018-03-25 21:15 | Report Abuse

Now 35 sen. Time to buy some.