11月19号22点10分，越南海阳2×600MW燃煤电厂工程#1主厂房深基坑#3筏板基础垫层成功浇筑完成。
此次#3筏板基础开挖底标高为-7.3m，筏板平面尺寸为44.8m×20.93m，筏板厚度为2.5m。#3筏板区域开挖属于重大风险作业，开挖专项方案已于9月12日经专家论证通过，方案中选择钢板桩作为基坑土方开挖支护方式；钢板桩施工完成后，土方开挖正式开始，开挖过程遵循先撑后挖原则，按照专家审批方案进行钢板桩加固。其中施工难度最大的是凝泵套管安装，凝泵套管底标高-9.585m，比筏板基础要低2米多，加之越南海阳项目地质状况复杂，#3筏板向下为流沙层，无疑增加了凝泵套管安装的难度，但项目部凭借丰富的电厂施工经验，克服各种困难，在短时间内顺利完成了凝泵套管的预埋和基础垫层的浇筑。
#3筏板为主厂房BC排钢结构柱基础，其上共有10个混凝土短柱，#3筏板的成功浇筑为12月14日主厂房钢结构吊装奠定了坚实基础，也为后续深基坑开挖提供了借鉴经验。

Trust no one in i3 including KYY. Just find out how valuable is Jaks's 40% stake in US$1.87b Vietnam thermal power plant, then decide whether it is worth all the risks. Investment is all about risk reward evaluation. Nothing is risk free. It doesn't mean if someone failed somewhere, everyone else must fail elsewhere too.

It affects the Vietnam government.

Some insiders knew the results few days ago.....

Share price may be falling, but that won't stop the vietnam power plant from getting taller....

Post disposal and dividend, if Pimpinan Ehsan is sold for RM20m, this will increase its cash pile by about RM0.30 per share.

Any distribution beyond RM2 would involve capital repayment which requires high court approval.

TRIPLC will be left with just RM71m after dividend. Insignificant to acquire any business. Hence, likely to sell of the listing status (may worth RM20m) and distribute all the remaining funds within the permitted time frame (normally 1 year). Note that under PN16, 90% of the funds must be placed under trust.

As I have said, huge special dividend is the only way to get the deal thru.....

http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=83340&name=EA_GA_ATTACHMENTS

Rio2814, I just gather from the last paragraph of the " prospect " in the latest report.

11月13日上午10点18分，公司联合总承包的越南海阳2*600MW燃煤电厂工程现场隆重举行了#1-1锅炉钢架吊装仪式。
吊装仪式上，在施工单位首先进行技术交底、总承包安全总监进行安全交底之后，总承包项目经理李仁刚同志发表讲话，对项目推进和现场各参建单位所付出的辛勤劳动给予充分肯定，并宣布吊装工作正式开始。随后，BOT公司、总承包项目部、施工单位项目部三方代表手握扳钳，为项目第一榀钢架进行螺栓拧固。项目现场工作人员表示，今天的吊装仅仅只是安装工作的开始，项目部全体干部职工将与各参建单位一道，同心同德，团结协作，继续攻坚克难，发扬不畏艰苦、迎难而上的作风，圆满完成海阳项目既定的生产和建设任务。

Looks like the conditional S&P will be signed before Dec 2017

Only if Puncak raise the offer price

http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=83224&name=EA_GA_ATTACHMENTS

agree

no

The deal was supposed to be completed by Sept 2017, now delayed to June 2018

The deal is delayed for another 9 months. Any chance of puncak raising the offer price ???

If Rozali given the choice, he won't give out a cent. If he has proxies controlling more than 82% of the company, what is the point going thru all these just to take advantage of the remaining 18% ? Moreover, if Rosali indeed controls 82%, he should offer a higher price to benefit himself here in triplc instead of such a low price only to benefit puncak where he only controls 41%.

Upon completion of the power plant, a more reasonable expectation of Jaks earnings is RM250m = EPS RM0.50. Conservative 10 x PE = RM5 target price.

KYY would not have bought so much Jaks for just RM1.63 target price.

Moreover, RM80m = RM0.163 EPS. Based on 10 x PE = RM1.63. This doesn't make Jaks attractive considering the construction risks.

Would you consider a project which you have to risk RM2.4b now for just RM80m x 25 yrs = RM2b. Not to mention the huge loss on time value of money.....

Based on your assumptions, a weighted average cost of capital of 10% would have wiped out all the gains. The project would not be economically viable in the first place.

The capacity charge under the PPA will ensure that upon successful commissioning of the power plant, the operator is guaranteed to get back its capital, borrowings, finance charges, and agreed returns. The energy charge under the PPA will provide additional returns during electricity generation.

Fast, when you borrow to take up a project, you don't just consider the return on your equity capital. Remember, if the project fails, there will be no payment from vietnam, jaks will have to repay the borrowings. Payback periods of 8+ yrs is for the entire project costs.

Where is this RM1.809b from ?

payback period is not just for the equity capital, it includes the borrowings as well.

Only way to succeed is to buy out all yield investors. These are those with definite "No" votes.

Management guidance is consistent with payback period of about 8 years which is reasonable.

RM80m works out to total of RM5b for 25years. Can't recover your RM8b initial investment.

Management has guided yearly recurring income of US$150m. 40% sharing is about RM250m. RM80m seems too low.

fast, if you are talking about the 40% sharing of the power generation profit, how do you arrive at RM80m - RM100m ? What is your basis ? Appreciate your explanation.

Fast , what is this "IPP 40% net profit" ?

mind to share your source of information ?

So, only plausible outcome is to distribute RM2 now and sell the shell and pay back all to shareholders.

The only legitimate reason for transferring the listing status to PEB is that the shell can be sold to another company going for back door listing.

For now, its seems hard for puncak's shareholders to reject the deal

TRIPLC's results means a lot to puncak's shareholders during EGM.

Newin, TRIPLC is worth far more than the offer price of RM210m. Minority watchdog gives a valuation of RM360m. So, why would the shareholders agree to sell TRIPLC if the proceeds is kept for future acquisition. If so, why not just keep the concession businesses which provides long term stable recurring revenues. Therefore, the only way to convince them is to sell is to return the cash proceeds to the shareholders. Most of them are not confident of future acquisitions.

Look at today's AGM voting results. Looks like Rosali only control 47m shares or 68%. Meaning there is 32% minorities waiting for fat special dividend. Only 18% is needed to fail the deal. And only a very big special dividend (like RM2) can pull the trick.......

should be 5.4m for Ang and 4.5m for Razali. Ang still has 0.6m option left.

" hng33 There are 2 director exercise LTIP, total volume 5.4m, issue at RM 1.40. In the JAKS previous Q2 result, it already make provision on Long-Term Incentive Plan expense amounting to RM 7.595 million, which translate into matched 5.4m new share under LTIP issue at RM 1.40 to two director.

MR ANG LAM POAH exercise 2 tranche LTIP 1.8m + 1.8m

Razali Merican Bin Naina Mercian exercise LTIP 1.8m.

Therefore, the first new share listing now 2.7m share is half of the earlier LTIP and expect second LTIP another 2.7 m share to be listed soon. However, all these LTIP will NOT affect next q result as ALL expense already fully make in previous Q2, which already FULLY incur expense RM 7.595m for LTIP recorded in previous Q2

Remark: despite these 2 director get rewarded with LTIP share, both director also in buy JAKS in open market to increase further their stake in JAKS, even so, their action to increase stake through LTIP or open market still far laggard behind actcumulation speed taken by multibillionarie KYY
23/10/2017 13:17"

Hng33, I don't think your information is correct. Ang has exercised 1.8m+1.8m+1.8m and Razali has exercised 1.8m+1.8m LTIP in Oct, and all of them has been listed. Please check.

Ang Lam Poah should call for analysts meeting and reveal all information and tell everyone why Jaks is a jewel. Bring in fund managers and buy up the price. KYY is an investor, he will sell when the price is right. It is safer to Ang for Jaks to have more fund managers as shareholders than having one KYY to own 30% shareholding.

I feel sorry for Ang Lam Poah. He risked big and fought hard for the Vietnam plant but now KYY is coming to threaten his empire, an empire that he could not defend because he is low on bullets.

" All they do is just a joke on themselves. Just imagine someone go into Church and declare Jesus is a liar. " <------ I really love this !

If KYY goes for hostile takeover, Ang Lam Poah has to push the price up to fail KYY. Either way, KYY wins.

If this is the net profit amount, it is not super optimistic, it is impossible !

baiyuensheng : I saw it dated 13/10/2016.