SKB posted the best ever quarterly results for the financial year ended June 2023

For the full year, SKB also recorded the best ever results in terms of revenue and net profit

Year on Year revenue growth for each quarter ranged from 40 to 60%

For the full year, revenue and net profit increased by over 50%

Financial Year: 30-Jun-2023 (thousands RM)
_______________ Revenue _____ PBT ____ Net Profit ___ NP Margin ___ ROE ______ EPS
06/30/23 ______ 34,467 ____ 5,806 ________ 4,949 ______ 14.36% ____ 4.19% ____ 3.75
03/31/23 ______ 25,975 ____ 4,981 ________ 3,119 ______ 12.01% ____ 2.77% ____ 2.36
12/31/22 ______ 29,489 ____ 4,838 ________ 4,454 ______ 15.10% ____ 4.13% ____ 3.37
09/30/22 ______ 22,205 ____ 2,738 ________ 2,473 ______ 11.14% ____ 2.38% ____ 1.87
Full Year ______ 112,136 __ 18,363 _______ 14,995 ______ 13.37% ___ 12.84% ___ 11.36

YOY Growth
_______________ Revenue _____ PBT ______ Net Profit
06/30/23 ______ 40.60% ______ 0.61% _____ 19.28%
03/31/23 ______ 60.05% _____ 33.68% ______ 0.68%
12/31/22 ______ 60.17% ____ 174.26% ___ 186.25%
09/30/22 ______ 44.80% ____ 165.83% ___ 211.85%
Full Year _______ 50.54% _____ 49.40% _____ 56.26%

.

Have a look at PSAi3Alert's postings at:

https://klse.i3investor.com/web/forum/forum-thread/800005273?p=221
https://klse.i3investor.com/web/forum/forum-thread/800005273?p=222

The bulk of Ptrans revenue is from Maksima Timur, Rezeki Megajaya and Century Edge Group, and they are all fake.

.

By buying over TSR's share of the JV that was contracted to build a shopping mall for Merdeka 118, WCT will probably recognize additional revenue and profits for the year 2023.

Retail Mall, PNB 118 (51% share)
Expected completion: 2023
Outstanding billing: RM200M

---

KUALA LUMPUR: Construction and property development company TSR Capital Bhd has sold its 49 per cent interest in a joint venture (JV) company with a RM676.8 million contract to build a shopping mall for Merdeka 118 at a "no loss, no gain" basis.

The contract was awarded to the JV company in 2018.

In a filing with Bursa Malaysia Securities yesterday, TSR Capital said its subsidiary, TSR Bina Sdn Bhd (TSRB) sold its interest in WCT TSR Sdn Bhd for RM1.47 million.

TSRB has also derecognised its share of profits of investment in JV up to June 30, 2022 amounting to RM4.478 million.


https://www.nst.com.my/business/2023/07/927087/tsr-capital-sells-out-jv-company-building-merdeka-118-mall

Who wants to make RM1,835,548.59 to RM5,506,645.77 risk-free without up front capital?

Here's how, just report tax evaders

Between 2019 and July 2023, Jaks has issued the following amount and value of shares under the share grant plans:

____________________ Units ___________ Value (RM)
July 2023 ________ 70,500,000 ________ 12,690,000
2022 _____________ 45,000,000 ________ 11,700,000
2020 _____________ 19,945,000 ________ 17,052,975
2019 _____________ 38,709,760 ________ 19,741,978
Total ____________ 174,154,760 ________ 61,184,953

The number and value of free shares issued were 174,154,760 and RM61,184,952!!!

The shares were issued for FREE and the expenses were charged to the company under administrative expenses

Since Ang Lam Pah & Co did not pay for the shares, the entire value of RM61,184,953M is considered as ‘perquisites’ under Section 13(1)(a) of the income tax. Act (ITA) in 1967.

At the income tax rate of 30%, Ang Lam Pah & Co will need to pay at least RM18,355,485.9 in back taxes

That's before penalties and compounds

Penalties and compounds may triple the amount to RM55,066,457.7

Any whistle blower to LHDN will get 10% reward

The reward will range from RM1,835,548.59 to RM5,506,645.77

That's seven figures easy money

Ang Lam Poah IC registered with LHDN: *70623-10-53+^


https://incometax.my/company/report_tax_evasion.htm


Happy reporting


.

Who wants to make 7 digits risk-free and without up front capital?

Here's how

Between 2019 and July 2023, Jaks has issued the following amount and value of shares under the share grant plans:

____________________ Units ___________ Value (RM)
July 2023 ________ 70,500,000 ________ 12,690,000
2022 _____________ 45,000,000 ________ 11,700,000
2020 _____________ 19,945,000 ________ 17,052,975
2019 _____________ 38,709,760 ________ 19,741,978
Total ____________ 174,154,760 ________ 61,184,953

The number and value of free shares issued were 174,154,760 and RM61,184,952!!!

The shares were issued for FREE and the expenses were charged to the company under administrative expenses

Since Ang Lam Pah & Co did not pay for the shares, the entire value of RM61,184,953M is considered as ‘perquisites’ under Section 13(1)(a) of the income tax. Act (ITA) in 1967.

At the income tax rate of 30%, Ang Lam Pah & Co will need to pay at least RM18,355,485.9 in back taxes

That's before penalties and compounds

Penalties and compounds may triple the amount to RM55,066,457.7

Any whistle blower to LHDN will get 10% reward

The reward will range from RM1,835,548.59 to RM5,506,645.77

That's seven figures easy money

Ang Lam Poah IC registered with LHDN: *70623-10-53+^

Happy reporting


.

Sort of. But RM3.168M from SuiYee sucker pockets.

(0.22 - .18) x 80.0147M = RM3.168M


.

RM14.4M raised from Private Placement - 80,014,700 shares at 0.180.

RM14.4M paid to supplier/contractors (aka PP subscribers)

RM14.4M written off from receivables

Books balanced

.

Looks like laundering, sound like laundering, IT IS LAUNDERING!!!

--

Jaks Pacific Power's borrowings of USD1,051.50 million would have been reported somewhere.

A company search on Jaks Pacific Power Ltd in Hong Kong shows zero debt?!!!

8 Mortgages and Charges - NIL -

---

Link to company search here:

Jaks_Pacific_Power_Ltd_NAR1.pdf
https://file.gd/T2g0bj

.

USD120M profit for the entire plant = RM561M

10% of RM561M = RM56.1M

Cost only RM200M for additional 10% that generates RM56.1M more (on top of the RM150M from the 30% equity)

56.1/200 = 28%

Kennot get Serba type of bond at 8%

Hehe haha hoho



Posted by Johnchew5 > 8 hours ago | Report Abuse

Hoho in fact Jaks had internal funds to purchase the 10 % Option, ...

Note : To purchase the 10 % Option is required ard RM 200 million .

.

Put aside the fact that a similar plant can be commissioned by EVN at USD160M cheaper for now.

Jaks Pacific Power's borrowings of USD1,051.50 million would have been reported somewhere.

A company search on Jaks Pacific Power Ltd in Hong Kong shows zero debt?!!!

8 Mortgages and Charges
Total amount of the indebtedness as at the date to which this return is made up in respect of all mortgages and charges which are required to be registered with the Registrar of Companies pursuant to the Companies Ordinance or would have been required to be so registered if created after 1 January 1912

NIL

---

Link to company search here:

Jaks_Pacific_Power_Ltd_NAR1.pdf
https://file.gd/T2g0bj


.

The following references are saying that:

- The Hai Duong plant costed USD1.87B

- Jaks Pacific Power has borrowings of USD1,051.50 million

- EVN's Quang Trach 1 1,200MW plant cost is only USD 1.71B


---


[ The build-operate-transfer (“BOT”) thermal power plant in Hai Duong province cost USD1.87 billion and JAKS holds 30% equity interest in the joint venture company with China Power Engineering Consulting Group Company Limited ]

Page 16
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=225023&name=EA_DS_ATTACHMENTS

---

[ As at the LPD, JPP has raised a total of USD1,449.00 million by way of total borrowings amounting to USD1,051.50 million and via the issuance of 221.00 million JPP USD Shares for USD221.00 million, 176.50 million RCPS for USD176.50 million and 200 JPP HKD Shares for HKD200 ]

Page 11
https://www.insage.com.my/BursaNews/Attachment/202009/20200909/JAKS-AN20200909A2-1.pdf

---

Quang Trach 1 1,200MW
Investment: 41,131 VND Billion (USD 1.71B)
Ground-break: 2021
Completion: 2025

Page 8
https://ieefa.org/wp-content/uploads/2021/07/Vietnams-EVN-Stands-Out-With-a-Strong-2020-Financial-Performance_July-2021.pdf

.

Between 2016 and 2020, Electricity of Vietnam (EVN) net margin ranged from 1.6% to 3.6%

However, EVN's went into losses after 2020, and combined losses for the years 2022 and 2023 is expected to reach USD4 billion

In 2022, most IPPs in Vietnam has reported margins that ranged from 5%-8%

Jaks reported 32% net margin

Jaks reported 32% net margin when it's peers are reporting margin that ranged from 5%-8%

Jaks reported 32% net margin when it's only customer EVN is making losses

Your domestic helper is using Hermes when your wife is using LV

Your staff is driving Bugatti when you are driving MyVi

---

Page 3 Table 1: EVN Consolidated Income 2016-2020
https://ieefa.org/wp-content/uploads/2021/07/Vietnams-EVN-Stands-Out-With-a-Strong-2020-Financial-Performance_July-2021.pdf

https://thediplomat.com/2023/03/why-vietnams-state-owned-electric-utility-evn-is-in-financial-trouble/

---

Jaks is reporting total earnings of around USD120M for the entire power plant in Vietnam. That margin will be about 32% of sales. Comparable plants in Vietnam are reporting only 5%-8% margins.

Quang Ninh Thermal Power JSC _____ USD444.23M _____ USD32.84M
PVPower NT2 ________________________ USD374.68M _____ USD31.09M
PECC2 ________________________________ USD56.38M ______ USD3.27M
Pha Lai Thermal Power JSC __________ USD218.13M _____ USD15.89M

.

The following posting was made by PSAi3alert in ARB Berhad thread.

Price then was 0.12/sh

Now it's 0.095/share

And it will tank futher


---------------------------

Posted by PSAi3alert > 2022-07-24 13:12 | Report Abuse

ARBB's 2020 annual report shows buzzwords such as Cloud CoSec, Pacio Accounting, Point of Sales,production, inventory management, business intelligence, human resources, Internet of Things (IOT) - (warehouse management, smart building, smart home, smart water management), purchasing, customer relationship management, sales & marketing, big data analytics, etc.

But revenue is only from 2 segments - ERP and IOT

Revenue of RM219.454M was reported for the year 2020 and 93% of the sales was from 4 customers. The 4 customers were not named but the average sales per customer will be RM51M

Salaries and wages was only RM2.308M or 1.05% of sales

31st March 2022 trade receivables is RM197.104M

Domain name was created in 2019 and is hosted with free hosting provider - Wix.com


--->>> Average sales of RM51M per customer is a lot of money for ERP or IOT. Surely there will be press releases on the purchase and what exactly was purchased.

--->>> 1.05% salaries cost as a percent of sales is a unicorn. It's just impossible

--->>> Trade receivables as at 31st March 2022 is RM197.104M

--->>> Frequent changes in auditors is a big red-flag

--->>> For a company that claims to have hundreds of millions of sales, why is their own domain hosted for free with Wix.com?

--->>> Software companies have frequent patches and updates in their site. ARBB does not have any such links for patches and updates.

--->>> Whoever buys this supposedly IOT company is an ID IOT


-------

FYE 2020
Sales of goods: RM8.487M
Rendering of information technology services: RM210.967M
Total revenue: RM219.454M

ERP Segment sales: RM150.541M
IOT Segment Sales: RM68.913M

Salaries, wages and allowances: RM2.308M

Page 118
Major customers
There are four (4) (2019: four (4)) major customers contributing to 93% (2019: 98%) of the Group’s revenue.


-------

31 March 2021
BDO PLT resigned as auditors
The company could not reach a consensus on the proposed increase of the audit fees covering the financial statements for the 18 months ending 30 June 2022 of the Company and some of its subsidiaries.
1 April 2021
SBY Partners PLT appointed as auditors

15 September 2021
Deloitte PLT resigned as Auditors
17 September 2021
BDO PLT appointed as auditors

-------

Sources:

Q1 2022 Financial results
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=218449&name=EA_FR_ATTACHMENTS

2020 Annual report
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=206611&name=EA_DS_ATTACHMENTS

.

The following posting was made by warchest in ARB Berhad thread.

Price then was 0.37/sh

Now it's 0.095/share

75% down!!!

---------------------------


Posted by warchest > 2021-02-21 14:28

Is highly possible to reach RM1. With ROE and EPS for FY20 of 27% and 10 cents respectively, essentially they are investing huge chunk of profits at at high rate of return. Even with using PE multiple of 10x and historical earnings based on FY20, the current value is RM1.00. But we can only use PE and discounted cash flow to value traditional businesses not tech companies like ARBB. When looking into tech companies like ARBB, we need to see the revenue growth, strong balance sheet and business model. You can argue that the Company has high receivables but it is make sense as due to its business model

.

SSLee,

Yes, you're correct.

The RM12.69M of LTIP expenses will hit only in Q3 2023.

The Q2 other operating, administrative expenses is probably made up of:
Depreciation and Amortisation 7.732M
Allowance for Impairment of Receivables 4.000M

What fak-king executive performance to justify free shares of RM12.69M paid by company for the quarter when revenue was only RM3.312M?!!!

Please don't bring in the performance of the 30% Vietnam JV project. If it does well, the directors and management of the plant should be rewarded, not the jokers here.

You need to dichotomise the issues

It's just minority oppression and tax evasion in this case.



Q2 2023 Financials
Revenue: 3.312M
FREE shares given to Ang Lam Pah and expensed to admin expenses: RM12.69M

---

Posted by StartOfTheBull > 14 minutes ago | Report Abuse

What is that to complaint if someone is not a staff or management of the company? Is that anything wrong to reward a director in the form of share or something instead of salary or director fee?

Why then is other operating, administrative expenses so high at RM13.077M in Q2 2023?

When average employee salaries & wages per quarter is only RM3.22M!

Answer is:

--->>> RM12.69M worth of shares were given for FREE to Ang Lam Pah and charged to operating, administrative expenses.

Please remember this fact in 'Key Matters Discussed'

Long Term Incentive Plan (“LTIP”) On 10 July 2023, the Company granted 70,500,000 ordinary shares (“LTIP Shares”) under the Restricted Share Plan (“RSP”) of the Company’s Long-Term Incentive Plan (“LTIP”) to eligible directors and employees of the Group.


https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=224962&name=EA_FR_ATTACHMENTS

.

What then is the actual employee costs per quarter?

The number of employees in Jaks Malaysia was 124 in year 2022.

The total salaries and wages received by employees in 2022 is RM12,880,055 (16.2M - 3.32M)

So, the average employee salary and wages per quarter should be only RM3.22M ( 12.88 / 4 )


Page 39
In FY2022, our total workforce consisted of 124 manpower (FY2021: 135, F2020: 146)

Page 145
Salaries, wages and other emoluments 16,201,055

Included in staff costs is aggregate amount of remuneration received and receivable by the Executive Directors of the Group and of the Company during the financial year as below:

Executive Directors
Salaries, wages and other emoluments 3,321,000


https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3348800

It gave the impression that 'Other Operating, Administrative Expenses' is on a downtrend and the latest amount is RM14.875M

The fact twister went on to justify the amount of other operating and administrative expenses is reasonable because there are 600 employees working in the Vietnam factory

Where did the 600 employees number come from?

Don't know. You just need to recall from Key Matters Discussed, which is not referenced anywhere.

First of all, the number of employees in the Vietnam factory is irrelevant to Malaysia Jaks' administrative expenses

It can be 6, 60, 600, 6million or 6 billion employees

Jaks in Malaysia will not be paying for the employees in Vietnam

Their salaries will be paid by JAKS Hai Duong Power Company Limited

Please remember this fact in 'Key Matters Discussed'

.

Wanna see how a fact twister work?

Look at the posting below.



---

Posted by Johnchew5

Jaks

Referred to FY23 , 1 QR ended March 2023 :

Other Operating, Administrative Expenses :


( RM 14,875,000 ) / quarter


👉Referred to FY23 , 2QR ended June 2023 :

Other Operating, Administrative Expenses :


( RM 13,077,000 ) / quarter


>> Recalled from Key Matters Discussed, there are ard 600 employees working in Vietnam JV company…

16 hours ago

Warchest,

How can you be absolutely certain that the current price will be the lowest level?

--- Vietnam power plant ---

Jaks is reporting total earnings of around USD120M for the entire power plant in Vietnam. That margin will be about 32% of sales. Comparable plants in Vietnam are reporting only 5%-8% margins.

Quang Ninh Thermal Power JSC _____ USD444.23M _____ USD32.84M
PVPower NT2 ________________________ USD374.68M _____ USD31.09M
PECC2 ________________________________ USD56.38M ______ USD3.27M
Pha Lai Thermal Power JSC __________ USD218.13M _____ USD15.89M


What Mr Marktet is saying is that the reported earnings for the Vietnam power plant is not credible

The current market cap is RM527M and the latest total bank borrowing is RM501.571M

However, Mr Market is saying that there will be RM527M to be shared with all shareholders when the RM501.571M borrowings is paid off at the end of 25 years.

--- LSS4 ---

LSS4 came in at low tariff bids, ranging from 17.68 sen to 24.81 sen per kilowatt hour (kWh). In comparison, the lowest bid for LSS1 was 39 sen per kWh. For LSS2, the lowest bid was 33.98 sen per kWh; while for LSS3, it was 17.78 sen per kWh

Jaks faced a double whammy of under-bidding and escalating silicon PV module prices in 2022. It will be extremely challenging for them to make a profit on the project.

Solarvest chose First Solar's advanced thin film photovoltaic technology which will allow them to lower costs by around 30%


--- BOD perception of share pricing and typical actions ---

Companies will typically do share buy-backs if share prices are perceived to be low

Jaks continues to issued private placement shares at low prices

( 29 May 2023 Private Placement 129,017,000 @ RM0.1850 = RM23.868M )

And Jaks continued to issue free shares to ALP and charge the expenses to the company

That action constitute minority oppression

[On the 10th of Jul 2023, 70,500,000 share grant was issued to Ang Lam Pah & co. While the market price was then 0.18 per share, no money was received by the company because the RM12.69M worth of shares were given for FREE to Ang Lam Pah.]

---
posted by warchest

Many people forgot that the issues in the Group already reflected in its rock bottom price now. But now they have 25 years Vietnam power plant concession with option to increase its stake to 40% & LSS4. If it is 40 to 50 cents, maybe it's still risky as it still have its loss-making property investment business. But at current price, how low it can be

49 minutes ago

Aide Memoire:

Major shareholders
Tan Sri Lim Siew Choon : 25.6%
Amanah Saham : 11.1%
Foreign Shareholders: 6.2%
Tan Sri Jeffrey Cheah Fook Ling : 4.86%
Insurance companies: 2.08%
Dato Choo Chuo Siong: 1.32%

Outstanding order book as at 31-12-2022: RM3.531 billion

List of Tenders Submitted/Pending Submission (23 Feb 2023): > RM9 billion

Segmental Results 2022 (12 months)
Engineering & Construction: RM1,466M
Property Development: RM451.5M
Property Investment & Management Division: RM184.5M
Consolidated revenue: RM2,102M
Net Profit: RM127.2M

Market cap 5th Aug 2023 : RM737M

.

A scam MOU by definition is predicated on a project that will not take off.

It's a negative.

And it is trite that it's impossible to prove a negative.

It is like asking you to prove that a unicorn does not exist.

The onus is on you to prove that that Ji Jian and Wang Xue Jun are successful business people in the solar RE industry; and that Zeo Carbon Energy, BaySolar AG and Bay Energy Group are all legitimate companies founded and owned by Ji Jian and Wang Xue Jun.

.

Original quote:

“When the missionaries came to Africa they had the Bible and we had the land. They said "Let us pray." We closed our eyes. When we opened them we had the Bible and they had the land.”

― Desmond Tutu

When Ang Lam Pah came into the meeting, he had the story and SuiYee suckers had the cash.

Ang Lam Pah said "Let us invest."

SuiYee suckers closed their eyes.

When SuiYee suckers opened them, SuiYee suckers have the story and Ang Lam Pah had the cash.

---

MOU STORY AVAILABLE FOR INSPECTION
Copy of the MOU will be made available for inspection at the Company’s registered office at 802,8th Floor, Block C Kelana Square, 17 Jalan SS7/26, 47301 Petaling Jaya, Selangor Darul Ehsan.

This announcement is dated 26 July 2023

.

The story is not created by someone, it's created by Jaks itself.

The paragraph containing the words - "ZC Energy is owned by two Chinese nationals, namely Mr. Ji Jian and Mr. Wang Xue Jun ......" is in the PR release by Jaks.

Link is here:

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=138818&name=EA_GA_ATTACHMENTS

Searches on German companies can be done at https://www.unternehmensregister.de

There is no such company with the name of BaySolar AG or Bay Energy Group

There is a company named 'Zero Carbon Energy Europe GmbH' and was formed in 2023 with a paid up capital is 25EUR; and the shareholders are Ji Jian and Wang Xue Jun

--->>> Do the search yourself to cross check

There is a reference to BaySolar AG and Bay Energy Group at the solar companies directory at: https://www.enfsolar.com/baysolar

The listed url for BaySolar Ag is www.bayenergy.net

Check with https://lookup.icann.org/en/lookup shows the domain bayenergy.net has expired

Checks with archive.org shows that the domain previously contained information on a wheel company that is based in China:

https://web.archive.org/web/20230128222341/http://www.bayenergy.net/


--->>> All references and links for fact checkings have been detailed above.

--->>> It's Ang Lam Pah who's creating scam MOU stories!


---

Posted by StartOfTheBull > 6 hours ago | Report Abuse

Below is a created story by someone:
""""""""""
There's a para in the memorandum of underwear with ZC energy:

"ZC Energy is owned by two Chinese nationals, namely Mr. Ji Jian and Mr. Wang Xue Jun, each holding 50% of the shares and the Managing Director is Mr. Ji Jian. It is a company specifically established for Italian projects and is the project sponsor of the current project in Tuscany. Mr. Wang Xue Jun also owns BaySolar AG and Bay Energy Group which has previously developed similar solar projects in Europe ranging from 7.4MW to 163MW."

Facts:
ZC energy is a new setup with paid up of 25 EUR
Wang Xue Jun's BaySolar AG has the following contact:
Franklinstraße 56, 60486 Frankfurt am Main, Deutschland
+49 69 50929198
www.bayenergy.net


bayenergy.net domain was created on 2019-07-08 and has expired on 2023-07-08

There's a para in the memorandum of underwear with ZC energy:

"ZC Energy is owned by two Chinese nationals, namely Mr. Ji Jian and Mr. Wang Xue Jun, each holding 50% of the shares and the Managing Director is Mr. Ji Jian. It is a company specifically established for Italian projects and is the project sponsor of the current project in Tuscany. Mr. Wang Xue Jun also owns BaySolar AG and Bay Energy Group which has previously developed similar solar projects in Europe ranging from 7.4MW to 163MW."

Facts:
ZC energy is a new setup with paid up of 25 EUR
Wang Xue Jun's BaySolar AG has the following contact:
Franklinstraße 56, 60486 Frankfurt am Main, Deutschland
+49 69 50929198
www.bayenergy.net


bayenergy.net domain was created on 2019-07-08 and has expired on 2023-07-08

Haha hehe, scam companies used for fake MOUs!

Laugh die Johnchewshoe/MikeCkuku/Leno/etc clones


https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=138818&name=EA_GA_ATTACHMENTS

Posted by UlarSawa > 5 days ago | Report Abuse

JohnChew come come ada orang implying Jaks cheating in 2022 income from vietnam thermal power plant leh. Why you so panlai korek data one takda suspect anything kah. How could other competitors in 2022 unable to get so good net profit but Jaks can get superb net profit from the 1200mw power plant leh. You try to work out the result ada possible kah. Ular SPM gam gam passed glanced thru pun ingat jaks power plant macam pun ada sikit not really can achieve so great result leh. The other 4 competitors inly generated the best pun 8% net profit from the yearly revenue generated due to high coal price in 2022 as the reporter tulis the report leh. Jaks one can get so high net profit up to usd120mil super high return leh. In order to get usd120 if kira 10% net profit can generated usd1.2 bil revenue leh. The other similar 1200mw plant pun only ada revenue of usd440mil only leh. Tak kan Jaks power plant can get 3 times net profit of the other 4 competitors net profit or revenue leh. Look like very suspicious leh. JohnChew can use your intelligent to answer the penkritik question kah. You seem to avoid to reply the penkritik comment leh. Could it be the answer why Jaks saham at so rock bottom kah. Haiyoh. Correct?



Posted by MrsLim > 7 hours ago | Report Abuse

In 2022, Jaks's 30% share of profit for the Hai Duong Power Plant was RM156.190M

The entire plant's profit would have been RM520M (about USD120M ) in 2022

The Hai Duong Power Plant wasn't the first. They were also not smarter.

However the Hai Duong Power Plant's profit is many times higher than those reported by it's peers.

---
“There are three ways to make a living in this business: be first, be smarter, or cheat." - Margin Call
---

Quang Ninh Thermal Power JSC _____ USD444.23M _____ USD32.84M
PVPower NT2 ________________________ USD374.68M _____ USD31.09M
PECC2 ________________________________ USD56.38M ______ USD3.27M
Pha Lai Thermal Power JSC __________ USD218.13M _____ USD15.89M

https://theinvestor.vn/thermal-power-plants-record-q4-profit-drop-on-higher-costs-d3460.html
.

Yep. Serba has a JV in the Abu Dhabi called Block 7

Jaks will be having a JV with a German company called Zero Carbon Energy Europe GmbH

However the German company was just recently formed and has a paid-up of 25 EUR

The shareholders of the German company are actually from China and there's literally Zero information on both of them in the solar PV industry

Sounds like a fart ( Carbon de Backside ) JV

---
Search on Zero Carbon Energy Europe GmbH at https://www.unternehmensregister.de :

Herr Jian Ji
geboren am 23.09.1961, wohnhaft in Leipzig, Staatsangehörigkeit: VR China
Nennbetrag des Geschäftsanteils : 12.500 EUR

Herr Xuejun Wang
geboren am 19.06.1976 wohnhaft in Shanghai, VR China Staatsangehörigkeit: VR China
Nennbetrag des Geschäftsanteils : 12.500 EUR


--->>> New company. No financial statements. Shareholder funds : 25 EUR

.

👉Referred to FY23 , 2QR ended June 2023 :

Total Bank Borrowings: RM501.571M compared to Q1 of RM490.794M

==>> Borrrowings increased by RM10.777M!!!!!!


Deposits and cash: RM55.981M compared to Q1 of RM104.598M

==>> Cash dropped by RM48.617M!!!!!!


===>>> Crisis!!!!!!

.

Hehe haha

In July 2021, the private placement was priced at 0.475

In May 2023, the private placement price was at only 0.185 , raising only RM23.868M

Looks like desperate for cash.



29 May 2023 Private Placement
129,017,000 @ RM0.1850 = RM23.868M

1 July 2021 Private Placement
272,667,000 @ RM0.4750 = RM129.517M

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For Q3 2022, Long Term Incentive Plan ("LTIP") expenses RM13.980M was charged to the company.

For Q3 2023, more than RM13M will also be expensed for the 70.5M free shares that were given to Ang Lam Pah on the 10th of July 2023.


https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3367711

Page 3
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=221227&name=EA_FR_ATTACHMENTS

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On the 10th of Jul 2023, 70,500,000 share grant was issued to Ang Lam Pah & co. While the market price was then 0.18 per share, no money was received by the company because the RM12.69M worth of shares were given for FREE to Ang Lam Pah.

Off course, the company will need to expense the entire RM12.69M to the administrative expenses for Q3 2023.

For the whole year of 2022, 45,000,000 free shares were issued. It costed the company RM11,700,000 for the free shares.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3367711

The recent round of private placement raised only RM23.868M ( 129,017,000 x .185 )

Jaks' share of the Vietnam JV project in 2022 was allegedly RM156.2M. In addition, dividend amounting to RM70M was also allegedly from the Vietnam JV company

Question: Why bother to undertake a private placement for such a small amount when the Vietnam JV project is allegedly generating soooo much profits?!

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3355308

Ang Lam Pah has hid share grant under LTIP.

Share grant is effectively free shares that is charged to the company, RM11.7M in 2022. More in 2023.

Issuance of shares under share grant plan 45,000,000 - RM11,700,000 -
Exercise of LTIP 3,000,000 - RM831,000

Since Lam Pah did not pay for the shares, the entire RM11.7M is considered as ‘perquisites’ under Section 13(1)(a) of the income tax. Act (ITA) in 1967.

Please remember to pay tax on the RM11.7M


Thank you


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https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=225023&name=EA_DS_ATTACHMENTS

Share Grant Plan (“SGP”)
The share grant are settled by way of issuance and transfer of new shares upon vesting. The total fair value of shares granted is recognised as an employee cost with a corresponding increase in the share grant reserve within equity over the vesting period after taking into account the probability that the share grant will vest.


In the case of the share grant, the shares will be vested with the grantee at no consideration on the vesting date. While in the case of share option, the option price shall be based on the 5 day weighted average market price of the underlying shares at the time the option is offered, with a discount of not more than 10%.

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Question:

If indeed, the plant's profit is USD120M in 2022, a challenging year with high coals costs, the return on share capital will be 25.7% ( 120 / 467.125 )!

A project with 4 years payback?

Haha ... fat female frog ( tai kap nar ) running in the street?


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Posted by MrsLim > 2 days ago | Report Abuse

In 2022, Jaks's 30% share of profit for the Hai Duong Power Plant was RM156.190M

The entire plant's profit would have been RM520M (about USD120M ) in 2022

The Hai Duong Power Plant wasn't the first. They were also not smarter.

However the Hai Duong Power Plant's profit is many times higher than those reported by it's peers.

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“There are three ways to make a living in this business: be first, be smarter, or cheat." - Margin Call
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Quang Ninh Thermal Power JSC _____ USD444.23M _____ USD32.84M
PVPower NT2 ________________________ USD374.68M _____ USD31.09M
PECC2 ________________________________ USD56.38M ______ USD3.27M
Pha Lai Thermal Power JSC __________ USD218.13M _____ USD15.89M

https://theinvestor.vn/thermal-power-plants-record-q4-profit-drop-on-higher-costs-d3460.html

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Company search on Jaks Pacific Power Limited at https://www.icris.cr.gov.hk/csci :

Company number: 1525457
Company Name: Jaks Pacific Power Limited

Date to which this Return is Made Up: 8-11-2022

Address of Registered Office:
Suites 1801-3, 18th Floor, One Taikoo Place,
979 King's Road, Hong Kong


Share Capital

Ordinary HK$ : 200
Ordinary US$: 280,275,000
Redeemable Convertible Preference Shares uS$: 186,850,000

Total HK$: 200
Total US$: 467,125,000


Directors

Surname: Wang
Other Names: Honggang

Surname: Xu
Other Names: Jinming

Surname: Ang
Other Names: Lam Poah

Surname: Goh
Other Names: Theow Hiang

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Search on Zero Carbon Energy Europe GmbH at https://www.unternehmensregister.de :

Herr Jian Ji
geboren am 23.09.1961, wohnhaft in Leipzig, Staatsangehörigkeit: VR China
Nennbetrag des Geschäftsanteils : 12.500 EUR

Herr Xuejun Wang
geboren am 19.06.1976 wohnhaft in Shanghai, VR China Staatsangehörigkeit: VR China
Nennbetrag des Geschäftsanteils : 12.500 EUR


--->>> New company. No financial statements. Shareholder funds : 25 EUR

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Why is it unusual for Opcom to have bad quarterly results?

Opcom bought TJE for RM90M and it's financials are as follows:

TJE FYE 2021 (RM)
Revenue: 1.591M
GP: 0.824M
PAT: 0.453M
Shareholders' funds: (1.752M)

And Opcom is on the way to buy more companies with such financials.

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https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=221518&name=EA_DS_ATTACHMENTS

Compared to SFPTech, Aimflex is almost RM80M net cash and has plenty of growth opportunities.

At current earnings and valued at SFPTech's PE, Aimflex's price should be closer to RM0.80 per share.



Aimflex
Cash and cash equivalents _______ 81.343M
Loan and borrowings ____________ 3.222M
Q2 2023 Revenue ________________ 23.757M
Q2 2023 PAT _____________________ 2.898M
Q2 2023 PAT (no impairment ) ___ 4.788M


SFPTech
Cash and cash equivalents ______ 52.365M
Loan and borrowings ___________ 51.713M
Q2 2023 Revenue _______________ 36.441M
Q2 2023 PAT ____________________ 10.631M

There was an impairment loss on receivable amounting to RM1.89M.

Without the impairment, net profit would have been RM4.788M ( 2.898M + 1.89M ).

A net profit of RM4.788M would have been a record high for a quarter!


--- Notes ---
B2.
The Group registered a higher Profit Before Tax by RM2.49 million in Q2 2023 as compared to Q1 2023, mainly due to higher gross profit by RM4.88 million as a result of higher revenue and higher gain on foreign exchange by RM0.87 million, offset by higher impairment loss on trade receivables by RM1.96 million and higher carriage outwards and export expenses by RM0.49 million.

B6.
... impairment loss on trade receivable amounting to RM1.89 million being made in the current quarter which is not tax deductible in nature.

With the announced multi-billion 1 GW hybrid solar photovoltaic power plant integrated with a renewable energy (RE) industrial park to be developed in Johor, the park will attract foreign manufacturers and suppliers across the RE and electric vehicle (EV) value chains, as well as other high-tech companies to set up operations and research and development facilities in the park.

Aimflex with it's factory in Senai, Johor will be in a very good position to increase it's revenue in providing specialized automation and test & measurement machines, precision parts fabrication and sheet metal fabrication services.

https://www.thestar.com.my/business/business-news/2023/07/27/uem-group-partners-with-itramas-for-1gw-hybrid-solar-pv-plant

Under Chuah, Pentamaster share price performance was impressive
Apr 2016 - Jun 2017 : 500% increase in share price
Apr 2016 - Dec 2017 : 1,000% increase in share price
Apr 2016 - Feb 2021 : 5,300% increase in share price

Hopefully, he can repeat a 500% increase in 1 year

Chuah Chong Ewe's shares in Aimflex
1/06/2022 81,576,707 via private placement
9/09/2022 50,000,000 via market
20/04/2023 30,000,000 via market
Total: 161,576,707

Chuah Chong Ewe joined Pentamaster Corporation Berhad in 2015 as its Chief Executive Officer and Executive Director. He resigned in 2021 but remains major shareholder of Pentamaster Corporation Berhad.

Around 2017/2018, Pentamaster obtained Pioneer Status incentives and the company's profit and share prices grew rapidly. Pentamaster's share price grew from 0.30 in Jan 2017 to a high of 6.30 in Feb 2021, an increase of 21 times!

Chuah Chong Ewe joined Aimflex Berhad as Executive Director on 25 January 2022 and subsequently a Group Managing Director on 30 September 2022. He is now major shareholder of Aimflex Berhad.

One of the Aimflex's subsidiaries, Aimflex Systems Sdn Bhd, has been granted the Pioneer Status incentives by the Malaysian Investment Development Authority under the provisions of the Promotion of Investment Act 1986 for a period of 10 years commencing on 7 February 2022.

Will Aimflex's earnings and share prices, follow the same pattern as Pentamaster, and grow rapidly?

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US companies pledge RM100bil investment in Malaysia in 18 months - US ambassador
Tuesday, 22 Aug 2023 12:02

https://www.thestar.com.my/business/business-news/2023/08/22/us-companies-pledge-rm100bil-investment-in-malaysia-in-18-months---us-ambassador

Aimflex ought to benefit from the investments


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To search if Armada Etan is still active, go to the following link:

https://resources.register-iri.com/CorpEntity/Corporate/Search

Type in the entity name and select Corporation as the Entity Type

Armada Etan Limited was registered on 17 Feb 2015 and is still active

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Insas will close 0.89 on 27 February 2026. WC will be worth 0.00

Insas will limit up to 1.19 on 2 March 2026 and RM1.5 on 3 March 2026. WC will still be 0.00


Posted by Sslee > 6 minutes ago | Report Abuse

Just need Insas to break RM 1.16 and WC is worth RM 0.318

SSLee,

Mr Haha added 600k+ more WC?

Previous year's holding was 18,101,200.

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=212145&name=EA_DS_ATTACHMENTS


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Haha,

Insas WC's theoretical price is 0.065 but is trading at 0.160

Had Mr HaHa sold his block of Insas WC at 0.53 on 8th Nov 2021, his profit would have been 18,101,200 x ( 0.53 - 0.26 ) = RM4,887,324

Unfortunately, Mr HaHa did not and currently have unrealized loss of 18,101,200 x ( .160 - 0.26 ) = RM1,810,120

Insas WC will soon go to 0.000 and Mr Haha will realize a loss of RM4,706,312

12th June 2023 Theoretical price of Insas WC using the traditional BSM model

Stock Price ___ Theoretical Warrant $ __Time Value
0.64 _________ 0.010 _________ 0.010
0.68 _________ 0.018 _________ 0.018
0.73 _________ 0.029 _________ 0.029
0.77 _________ 0.043 _________ 0.043
0.81 _________ 0.062 _________ 0.062
0.86 _________ 0.084 _________ 0.084
0.90 _________ 0.110 _________ 0.110
0.94 _________ 0.139 _________ 0.095
0.99 _________ 0.171 _________ 0.084
1.03 _________ 0.205 _________ 0.075
1.07 _________ 0.241 _________ 0.068
1.12 _________ 0.279 _________ 0.062
1.16 _________ 0.318 _________ 0.058


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