What do you think happened on Tuesday?

When they announce 40MW Hydro, nobody expect bigger one coming but they did. The point is with limited information we can only guess what's coming next.

40MW is ready to fire.

Talk about the risk, it's seem bond holders has no problem trusting JSB, what more they already have track record.

For me, my investment guide ;
1. Business and sector,
2. Management,
3. Existing Business/Contract/resources they already have and growth prospect

1. Business and Sector
A. Hospital
- Hospital business will always do well, look around any hospital groups are not doing well?
- Recession-proof and stable income
- Malaysia Aging population
- 95% Employers doesn't cover maternity
- Medical Inflation are so high will make sure hospital will always be profitable
- Command high valuation i.e. P.E
B. Renewable Energy
- This industry is being promoted and supported by the Government
- Cheaper alternatives will make sure the demand is there forever
- For example Sabah, the company will help the state government save millions annually on subsidy this in turn will make Industries in Sabah more competitive.
- Steady Income and dividend for next 30-40 years. There are no need to do marketing and marketing for me is the biggest risk in any business.
- Hydro is much more profitable than LSS projects
- I said they are better than Independent Power Producer because there more opportunities to expand and not as rigid as IPP.
- They are power operator and not just EPCC contractors unlike many, so they have a steady stream of income
- Steady Income/dividend and low risk of business will attract Institutional and Funds eventually, especially foreign funds.
- Command high valuation i.e. P.E

In conclusion, I am very comfortable with the company business and risk factors especially facing super high inflation rate and geopolitics risk.

I will write another 2 later.

Reversal trend indicator

Asset rich co.

As said earlier, jsb better than ipp co because there are dynamics and renewable energy can create much more opportunities.

NTA are much more than market capital. This companies form in 1975, they own lot of properties . They never make new valuation on thier properties, hidden gems. I believed they will continue with their asset rationalisation plan, turning their asset into more productive.

Wakaka, managed to sapu. Blessing in corporate exercise hiccup.

In my calculation those cheap tickets are done today.

Yes unfortunately according to a friend in the industry, some investors miss the dateline and unable to subscribe to right issue. If not mistake 8 Millions shares and this was distributed to other shareholders who apply excess. So for every 100 lot they apply they get 8lot.

25sen was a referral price for OR. Appeared in Bursa Announcement on first day of OR traded.

A bit more, tomorrow should be clear.

Not much supply left

Right issue oversubscribed by 100% meaning they are many JSB loyalist.

Technically, very low rsi, short term bullish signs already appeared and I will expect the price won't be this low for long, perhaps not more than a day.

The recent exercise confused some small retailers. The reason of price drop because 8m OR we sold below Bursa referral price of 25sen and this also the no of shares they distributed to applicants who apply extra right issue.

All in. Now I expect Institutions with a strong hand will come in after the exercise. This stock can provide good and stable dividends...better than IPP.

More good news

Dirt cheap supply almost over

They think they know what coming? Those who sell those bought OR and the number are not much.

MIDF Investment :- the Company had received valid acceptances and excess applications for a total of 203,466,318 Rights Shares, representing a subscription rate of 200.54% over the total number of Rights Shares available for subscription under the Rights Issue of Shares, resulting in an oversubscription rate of 100.54%.

Oversubscribed 100.54% . Banyak laku lol

Biofuel price climbing, soon everybody will look for Renewal Energy.

Rain or shine, Hydro, solar will generate money. Hospital will do even better.

As I said before, I don't expect their next QR after this going to be red anymore.

Agreed at 60sen without warrant, current price should be at least 70sen.

I expect FY 2021 onward will be green, first with gains from the disposal of properties follow with operating profit.

https://www.theedgemarkets.com/article/ipmuda-aims-be-pure-renewable-energy-play

Oriole Hyropower alone generate more than five times the total energy generated by all run-of-river hydropower plants in Malaysia and this doesn't include Telekosang One and Telekosang Two Hydropower.

https://www.nst.com.my/business/2022/02/768091/jentayu-sabahs-electricity-charge-hydro-projects

OR too low, bursa referral 24sen.

I don't think operator profiting, roughtly you can know everybody cost and there are no profit to take, further low volume....IMHO. Expected like any other stock, people will sell in first few days...for whatever reason...timing also...DJ weak, CNY etc. People are always thinking ..game over...but they just begin....one of the reason they do this exercise is to bring liquidity and corporate investors.

Oct 22, 2021 9:40 AM | Report Abuse

They have much much bigger projects on their plate, than what already being made public. As I said from the beginning, they going to be the biggest RE player.

I think investors will trust KAF Seagroatt and Jefferies Group; #7 World Investment Bank than calvin who .

1. Co going to raise only RM30M and that actually "paid" from their special dividend.
2. Co don't have to give Special Dividend if they want to but they giving option to shareholders to take cash on 10 Feb or giving back to co on 17 Feb for rights issues.
3. Mgt will take up all the rights if shareholders do not want to subscribe.
4. You can even trade the rights from 1-10 feb.

Sep 13, 2021 5:02 PM | Report Abuse 

Sllee5732 sorry, I was busy. Just hold tight, no worries. Soon you will find out Ipmuda is in different league.

That right Charlie, you will get 3 shares and 1.5 warrants. 10 year tenure is very rare and can command good premium. What a steal!!. Their RM10 Target price is just a matter of time.

Unlike other company Rights Issues, which they raise cash from shareholders.

JSB doesn't not really need to raise money from Shareholders, it's simply giving option to shareholder whether to take cash from Special Dividend or convert it to Rights issue.

At least RM2 Billion co.

https://www.theedgemarkets.com/article/ipmuda-aims-be-pure-renewable-energy-play

Ex date announcement should be very soon.

To the moon>>>>>>>○

Buy

Price
RM1.86
Target Price
RM4.08

Maintain Buy.

We maintain our Buy recommendation with a significantly higher TP of
RM4.08 (previously RM2.32), based on 60% discount on our SOP valuation of RM10.20.
Management shared that the project would cost around RM2.4b. Based on 29sen/kWh tariff,

70% utilisation rate, three years construction period and funded via 80% debt and 20%
equity, we estimate the plants to contribute a total of RM103m per year to the group from
FY26 onwards, with an annual FCFE of ~RM130m. Using this FCFE, we derive an equity
valuation of ~RM790m for the two projects, based on cost of equity of 12.8% and a 40-year
PPA. We assign a 60% discount to our SOP value pending achievement of several project
key milestones (refer to Exhibit 1) until actual commissioning in FY26.

Hydro capacity to increase fivefold.

We are positive on the news as the two hydropower
plants will significantly increase the group’s hydro capacity fivefold to 200MW, closing the
gap on Sabah’s target additional generation capacity of 100-200MW by 2025. Currently,
Ipmuda is in the midst of acquiring the 40MW Telekosang mini hydropower plant (THP) in
Tenom, Sabah. The plant is on track for commercial operation in Dec 2021, with a 21-year
PPA.

2022 will also mark a year of important financial milestone.

Hence, 2022 will also mark
an important financial milestone for the group, as it will see maiden contribution from the
THP. THP is a key asset to drive earnings growth as it pivots from trading to renewable
energy. It will also be a testament to the new management’s capabilities and indicate their
execution ability to take on larger projects

Received approval to develop two hydropower plants in Sabah.

Ipmuda announced that
the company has received the nod from the State Government of Sabah to develop two Runof-River Hydroelectric Cascading Scheme to be located in Sungai Maligan and Ulu Padas,
Sipitang, Sabah with an installed capacity of up to 31MW and 129MW, respectively.

The two projects will be undertaken via joint venture.

Ipmuda, through its wholly-owned
subsidiary, Oriole Power Sdn Bhd (Oriole) has entered into shareholders’ agreements with
Inno Hydropower (M) Sdn Bhd (Inno) to jointly carry out the Sungai Maligan project. The Ulu
Padas project will be jointly carried with Elopura Power Sdn Bhd (Elopura). Both Inno and
Elopura’s ultimate parent company is Kumuplan Yayasan Sabah. Currently, the company is
in the process of procuring all necessary approvals from the Ministry of Energy and Natural
Resources, Energy Commission and other relevant state authorities to execute power
purchase agreements (PPA).

Ipmuda
Transformational hydro deals

We maintain our Buy recommendation with a significantly higher TP of RM4.08
(previously RM2.32), based on 60% discount on our SOP valuation of RM10.20. Ipmuda
announced that it plans to develop two large Run-of-River Hydroplants with a total
installed capacity of up to 160MW - 4x larger than its existing one. Management shared
that the project would cost around RM2.4b. Based on 29sen/kWh tariff, 70% utilisation
rate, three years construction period and funded via 80% debt and 20% equity, we
estimate the plants to contribute a total of RM103m per year from FY26 onwards, with
an annual FCFE of ~RM130m. Using this FCFE, we derive an equity valuation of
~RM790m (RM7.79 per share) for the two projects, based on cost of equity of 12.8% and
a 40-year PPA. We assign a 60% discount to our SOP value pending achievement of
several project key milestones until actual commissioning in FY26.

Produced by: KAF Equities Sdn Bhd
Distributed by: Jefferies Group LLC, including Jefferies LLC in the U.S. and Jefferies Hong Kong Limited in Hong Kong

Wow! KAF Equity / Jefferies Financial Group recommends Buy and set full target of RM10.20 a piece, with immediate Target of RM4.08.

Hi hi what a beautiful opportunity to add up. People still don't understand how valuable is the company.

https://www.theedgemarkets.com/article/ipmuda-gets-sabah-govt-nod-develop-two-hydro-plants-160mw-capacity

The best turnaround company as today. Largest Renewal Energy operator(private). 6 assets in less than a year Worth billions now.