Zoozooka, "Profit is what is left for shareholders after repayment". Please verify your this statement with any accountant and he/she will be laughing at you.

correction : If the repayments are NOT secure, even if you split it to 10 banks, none of them will approve the loan.

By the way, accounting wise, repayment of borrowings has no implication on the earnings of a company. It only affects it cash flow.

Zoozooka, I m merely saying AES corp's vietnam coal fired plant is profitable since operation, not 12 years later. Jaks' power plant are awarded on the same terms. So, its power plant will be profitable once put into operation. The loan was split into 3 banks so as to expedite the approval process due to limited time. If the repayments are secure, even if you split it to 10 banks, none of them will approve the loan.

Zoozooka, I think you should know that the "capacity charge" by Jaks Hai Duong Power will ensure that the company earned a agreed returns on its invested capital regardless of the operation of the power plant. Just take a look at AES Corporation Accounts, its vietnam's 1240MW power plant which started operation in April 2015 shows that the operation is profitable since commencement of electricity generation. For your information, I didn't buy Jaks because of KYY. I know how to fish.

Big earnings coming.....Buy now or wait ?

I would be more worried if everyone is talking about buying Jaks here......

Jaks Hai Duong power will be paid "Capacity Charge", " Energy Charge", and "supplementary Charge". It effectively means that the BOT agreement guaranteed a predetermined returns on the capital invested by the operator regardless of the electricity generation and consumption. The 3 chinese banks will not approve the US$1.4b loan if the project's profitability and ability to repay loan is subject to undue risks such as plant output rate and consumption rate.

The most effective way to bring down Jaks is to unveil the shortcomings of Jaks with solid grounds instead of attacking KYY.

It seems like some people here are getting personal with KYY. They hope Jaks can go down to punish him....

Don't keep worrying about KYY. Jaks will have EPS about RM0.30 this year from Vietnam. Still too early to sell.

Zoozooka, I m not a long term investor. I m only keeping it for 5 years at most, the golden 5 years. After which, Jaks is meant for income funds.

Payback period and IRR are the most appropriate methods to value a long term BOT project. Just do some homeworks and you will know the potential of the project

Jaks invested more than 600m in Vietnam power plant. Jaks market cap is still less than a billion. Is that all 40% in a US$1.87b power plant is worth ? So little ??

Pmetal up more than 1000% during the past few years. Had you sold for 100% gain, you would have missed 900% !!

Unless you have seen the PPA, you can't justify that 1.83 is the fair market value of Jaks based on the price movement for the past one year

Every company is for sale. That's why we see mergers and acquisitions all the time.

Likewise, you have to buy Jaks now to become rich. You can't wait until it begins to generate electricity. 80% of the price potential would have been realised.

You have to look back some 20 years ago when YTL Power was awarded the IPP, not now. Those who bought then are all Millionaire now.

stunning results

KYY is so confidence because he knows power generation business. He invested so much because he sees golden opportunity. He holds more than 30%. He can't off load to the open market. He can only pray that his maths on JAKS don't go wrong. If his calculation is right, the fund management will be willing to buy from him at higher prices when JAKS delivers the stunting results in future.

Electricity generation business is one of the most predictable business in the world. CEO, Ang Lam Poah, aware of the terms of the PPA, would be happily selling to KYY if Jaks is overvalued.

China Power will not take up the bank loans and the project in vietnam, which has a sovereign rating below investment grade, for a small return.

The "take or pay " PPA is similar to the first generation PPA given to YTL Power which is hugely lucrative to the operator.

The PPA signed and guaranteed by the Vietnam gov't promised a predetermined returns on capital invested regardless of the electricity generation and consumption. It is not based on a certain percentage margin on the tariff. 10% margin can't even repay the installments of the US$1.4b bank loan, reasonable ? Management guided 8 years payback period, and IRR about 12%. These are more appropriate measurement of the viability of a BOT project.

Jaks price already new high. It is difficult to cause panic selling now.

It doesn't matter how smart KYY is, it doesn't mean everyone else is stupid. Other investors can judge for themselve whether Jaks is worth buying or not....

Don't let KYY's involvement scares you of the opportunity to become a shareholder of a small company that eventually owns 40% of a giant US$1.87b power plant without borrowings, something that a small company can only dream of.

Jaks managed to iron out the whole deal and get the project going. So, KYY saw the opportunity and scooped up 30%. He does not need anyone to buy him out. He can be rewarded handsomely by the dividend for 25 years.

Had it been China Power who got the Hai Duong project by itself, do u think it will let Jaks owns 30% for just RM200m and let Jaks earns RM400m during construction for doing nothing ?

Strong interest on this stock now

There is balance of RM330m ( RM0.66 per share) construction profit to be recognised over the construction period.

1月23日，公司承建的越南海阳2×600MW燃煤电厂工程2号汽轮机基础混凝土顺利浇筑完毕。
　　该工程汽轮机基础结构复杂而且工程量大，为保证混凝土浇筑质量，越南海阳项目部对浇筑顺序、人员及机具调配等进行了周密部署，在浇筑前进行安全技术交底。1月22日10时28分，2号汽轮机基础浇筑作业正式开始，历经23小时,共计浇筑混凝土总量为2008立方米。

1月16日19时30分，越南海阳2×600MW燃煤电厂1号机组汽机基座底板开始浇筑，1月17日晚10时浇筑完成，此次浇筑累计浇筑混凝土方量为1975m3，累计混凝土浇筑时长26.5小时。

1号机汽机底板设计厚度为3m，图纸计算混凝土方量为2040m3，这是越南海阳项目部截至目前大体积混凝土厚度最大的一个基础。为有效控制混凝土内外温差和不产生有害裂缝，项目部对浇筑方案进行了详细编制和评审，并在混凝土浇筑前对作业人员进行详细交底。越南海阳项目自#1-1锅炉基础大块混凝土浇筑以来，大大小小经历了很多次的大体积混凝土浇筑，在浇筑的实践中，通过浇筑前对人机料法环各个要素进行盘点，浇筑过程中的全程跟踪监督，浇筑完成后讨论和总结，项目部积累了丰富的施工经验，为后续浇筑施工奠定了坚实的基础。

汽机底板浇筑完成，标志着主厂房基础承台全部浇筑完成，为完成1月底主厂房出零米目标奠定了坚实的基础，同时也为春节前主厂房钢结构的吊装提供了良好的条件。

Everyone is here for the same reason.....to profit from the stock in one way or another. Either by pushing it up so that they can sell high, or to scare it down so that they can buy cheap. Investors have grown smarter and able to reason. You need legitimate arguments to win your followers.

Q4'17 financial report will be out before end Feb'18

https://www.thestar.com.my/business/business-news/2018/01/16/carimin-dayang-petra-secure-petronas-carigali-contract/

The fuel costs for Jaks power plant are on "pass thru" basis. It will not affect its profitability.

It is definitely worth your time to do some homeworks. Don't miss the golden opportunity.

Information relating to the PPA is classified. However, management has indicated that the payback period is slightly more than 8 years.

China power has built 49,000MW of thermal power plants. Any doubts of its ability to complete 1,200MW Hai Duong power plant ?The rights to remit capital and returns out of vietnam is guaranteed by the vietnam government.

Vietnam power plant is scheduled for completion by 28/2/2020. Time your investment. Still too early to invest ?

Happy Birthday, Mr Koon

TheContrarian, Thanks

TheContrarian, why the earliest is November ? The deadline is 10 Dec 2018....

On behalf of TRIplc, HLIB wishes to announce that the High Court of Malaya had, at the hearing on 29 November 2017, granted an order for the Company to convene a meeting with its members in relation to the Proposed Internal Reorganisation within 120 days from 29 November 2017 (“High Court Order”). The sealed High Court Order for the court convened meeting in relation to the Proposed Internal Reorganisation was received by the Company on 11 December 2017.

Mr Koon, thank you for your reply.

Mr Koon, from your experience, how is this power purchase contract compared to the one awarded to ytlpower some 20+ years ago, better ? Thanks for sharing.

Mr Koon, It is the JV business to ensure that the power plant is profitable thru its PPA. Why would the chinese banks guarantee that the JV makes the profit every year for 25 years ? By the way, do you know where I can get a copy of the power purchase contract ? Thank you.

11月28日，安徽电力建设第一工程有限公司承建的越南海阳燃煤电厂工程化水区域两个原水箱基础浇筑完成。原水箱基础半径为16.4m，基础混凝土厚度为1m，混凝土总浇筑方量为1680m3。单个原水箱基础上部约盛放9500m3原水。　为满足工程进度计划要求，项目部提前策划上部水箱制作，将原水箱基础施工完成作为前提条件，为后续原水箱制作提供充分的施工时间。十一月初，随着作业面陆续展开，项目部工程部与专业科认真盘点年前工作量，要求建筑施工队伍加载作业资源，不仅满足主体工程施工需要，外围工程也要均衡推进。由于化水区域两个个原水箱基础下共有256个PHC管桩，根据桩头处理图纸计算有2048个钢筋焊接接头，焊接工作是土建基础施工关键一环，项目部专业科与施工班组共同组织，合理安排，确保桩头处理焊接高效优质完成，经过各部门、专业以及施工队伍的共同努力，原水箱基础按期完成浇筑，为下一步原水箱制作创造了条件。