Isnt she doing the same thing that she had accused Ramkarpal?

Is Mahathir such a team player to be approached for discussion?

He is a DICTATOR.

Ramkarpal didnt have a choice...did he?

PRESS RELEASES

Monetary Policy Statement
Ref No : 01/20/03 22 Jan 2020

http://www.bnm.gov.my/index.php?ch=en_press&pg=en_press&ac=4980&lang=en

At its meeting today, the Monetary Policy Committee (MPC) of Bank Negara Malaysia decided to reduce the Overnight Policy Rate (OPR) to 2.75 percent. The ceiling and floor rates of the corridor of the OPR are correspondingly reduced to 3.00 percent and 2.50 percent, respectively.

The global economy continues to expand at a moderate pace. Latest indicators and the recent dissipation of trade tensions point to improving global trade activity. Monetary easing across major economies in the second half of 2019 has helped ease financial conditions, and is expected to continue to support economic activity. However, downside risks remain due to geopolitical tensions and policy uncertainties in a number of countries. This could cause a resurgence of financial market volatility and weigh on the global growth outlook.

For the Malaysian economy, latest indicators and supply disruptions in commodity-related sectors point to moderate expansion of economic activity in the fourth quarter. For 2019, growth will be within the projected range. For 2020, growth is expected to gradually improve, with continued support from household spending and better export performance. Overall investment activity is expected to record a modest recovery, underpinned by ongoing and new projects, both in the public and private sectors. However, downside risks to growth remain. These include uncertainty from various trade negotiations, geopolitical risks, weaker-than-expected growth of major trade partners, heightened volatility in financial markets, and domestic factors that include weakness in commodity-related sectors and delays in the implementation of projects.

Headline inflation averaged at 0.7% in 2019. In 2020, headline inflation is expected to average higher but remain modest. The trajectory of headline inflation will be dependent on global oil and commodity price developments and the timing of the lifting of the domestic retail fuel price ceilings. Underlying inflation is expected to remain broadly stable, reflecting the continued expansion in economic activity and the absence of strong demand pressures.

The adjustment to the OPR is a pre-emptive measure to secure the improving growth trajectory amid price stability. At this current level of the OPR, the MPC considers the stance of monetary policy to be appropriate in sustaining economic growth with price stability.

Malaysia Unexpectedly Cuts Policy Rate in ‘Pre-Emptive Measure’

https://finance.yahoo.com/news/malaysia-unexpectedly-cuts-policy-rate-070110419.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAABVMOr6inp2k9eUNDTe_b8QhunK1mgagZ0Rs1JOOgj4RKtjbMZAMZ6nsYC-W6r2Xp2C6EZ9oelgj95AaJfOS7VbrU4i6Uh0o7YD8vsR6jLyTLZgDigRPxe2_jw70znBP8fmB7YZiWVxcJlyUaX3W63bJpjrPeZPW4bES3KWhrjUs

Bank Negara Malaysia reduced the overnight policy rate to 2.75%, a 25 basis-point cut predicted by just two of the 26 economists surveyed by Bloomberg. The rest forecast no change.

..................

Jaks 25 years recurring income...almost risk free

The above news should give a boost to such low risk recurring earnings from overseas.

Uncle Koon did STEAM BLOW test here today.....about to generate lots of power i guess.

fuel cost pass-through mechanism

only cost would be Operation & Maintenance i suppose

let us feel the energy and contain it within:

https://www.youtube.com/watch?v=iDcEnSkrBlU

Oh just saw...that super fantastic news DK66!
Thanks for sharing...

real CNY firecracker is at the Hai Duong power plant!!

walao eh...with 4 years contract this much power..imagine what 25 years BOT contract can do?

Pharmaceutical stocks spike after China reports new coronavirus cases

https://edition.cnn.com/2020/01/19/investing/asian-market-latest/index.html

at 7238 hrs , which is 82% of the 8760 hrs available in a year, IRR would hit 16%

its a 25 years USD cash flow

Posted by human > Jan 19, 2020 6:10 PM | Report Abuse

6500 hours is the government guarantee mechanism used to calculate for power sales post both unit 2 operational, whether the actual power output meet this number or not the government will pay this "minimum" amount. During AGM the project manager confirm this.
Actual power sales can be higher if the plant more efficient or there are more demand.

no pjseow, i bought only after seeing your recommendations

since i was heavy in Jaks, my 2020 return is at 6% now

the volume of shares changing hands last 2 months is unprecedented..never in last 10 years.

its very likely 'ini kalilah'!...

coal cost is too cheap to ignore


Posted by Alfonso > Jan 17, 2020 4:28 PM | Report Abuse

ini kali lah

Mudajaya sees ray of hope in turning around

March 11, 2019

https://www.theedgemarkets.com/article/mudajaya-sees-ray-hope-turning-around

“The outstanding challenges that remain will be to secure a PPA (power purchase agreement) for Unit IV and its associated working capital,” said Wong.

He expects further share of losses in the next two financial quarters in the Indian operation. The losses are mainly from depreciation and interest cost of the completed units but have yet to commence power sales.

“Notwithstanding this, we remain confident that the IPP project in India will generate positive results once power sales from all four units commence in the near future,” he said.


.........................

3 financial qtrs had passed now from above date..

(Icon) Mudajaya (2) - With Multiple Assets Maturing, Risk Is On The Upside

Author: Icon8888 | Publish date: Mon, 28 Dec 2015

http://icon8888.blogspot.com/2015/12/mudajaya-2.html

Now, we are finally seeing light at the end of the tunnel. But exactly how much profit can we expect from the IPP project ?

According to an article dated 3 March 2014 in The Star, Mudajaya's CEO expected the IPP project to contribute approximately RM70 mil to Group profit. Was he referring to EBITDA, PBT or net profit ? If I am not wrong, according to accounting standard, associate contribution is booked in at Net Profit level. As such, it is likely that the RM70 mil is referring to net profit (Accountants please chip in here).


However, there is still one loose end to be tied up. Over the past 18 months, currencies have been on a roller coaster ride. How would that affect the IPP project's contribution to Mudajaya ? The 3 March 2014 article shedded some light on this issue as well.


First of all, let's have a feel of the movement of Rupee vs Ringgit. When James Wong mentioned that Rupee was weak, it was back in March 2014. During that time, one Rupee can get you 0.053805 Ringgit.


However, in 2015, Ringgit has depreciated substantially against the Rupee (Malaysia is a net oil exporter while India is a net oil importer). As at 24 December 2015, one Rupee can buy 0.064287 Ringgit, 19% more.


There is one more hurdle to clear. India does not have a strong power equipment manufacturing industry. As such, it is likely that the IPP needs to import the equipment and parts. We have all known by now that if you import anything, you need to pay US Dollars. Bearing in mind that the Rupee has depreciated against the US Dollars, how much USD debt does the IPP have ? Will all the advantge gained from strengthening of Rupee vs Ringgit be offset by the Rupee vs USD depreciation ?

Luckily, according to the 3 March 2014 article, both the IPP's revenue and debt are denominated in Rupee.

It seemed that we have a winner - no USD adverse impact, but strong Rupee will boost profit contribution to Mudajaya. Nice.


...................

The reason management forecasted RM 100 Million is likely due to the exchange rate movement and higher tariff in India currently as explained on my postings above

its always very soothing to read pjseow postings

love the word 'equanimity'

Posted by pjseow > Jan 17, 2020 3:03 PM | Report Abuse

While many are enjoying the joys of making profits, many could be feeling sad for missing the boat or even.lose money because of wrong judgements , let me share.with you the 4 states of mind a.buddist should.possess. There are metta , karuna, mudita and upekka . Metta is loving kindness. DK 66 ,OTB and many.others has shared their research work freely without.any condition . These are the expression.of metta. For those who lost money or miss the boat, we should.feel.karuna .or sympathy for them . For those who are joyful in making profits, we.should feel joyful or mudita for their well beings. For those who attack us with nasty remarks , we should.feel upekka or equainimity 。Equanimity means neutrality, tranquility, peaceful , no anger, no jealousy, no hatred , no sadness. Among.the.four states of.mind.,.Upekka is the most difficult to practise.

you want me to promote when its 0.51 or when its 1.50?

timing of stock selection matters...

Jaks was 0.5 too just a few months back

what more when Mudajaya power plant is 100% completed and just waiting to sell

4 more units of 360MW at 4 times cheaper price means...

SIXTEEN(16) × MORE ATTRACTIVE NOW!

compared to when Koon promoted on 2014 much ahead of completion

Its purely waiting to sell the electricity now..

I have a small plantation...so if the palm oil price sustains, its good news to me too..he he

i bought MFCB quite a lot and small qty on Dpharma (after price went up)

MKH...no buy...as the price went up too fast from 1.20...as i am not too sure palm oil price is sustainable above RM 3000

Further,

From 2013 to 2020, the wholesale price index of electricity in India went up from 102 to 115, by 13%:

https://www.statista.com/statistics/685948/wholesale-price-index-of-electricity-india/

During the same period, the exchange rate from Indian Rupees to MYR went up from 0.052 to 0.057, by 10%

https://www.xe.com/currencycharts/?from=INR&to=MYR&view=10Y

.............

The above means Electricity price in India went up by 25% in terms of RM during the last 7 years

Mudajaya’s intriguing new shareholder

November 23, 2019

https://www.theedgemarkets.com/article/mudajayas-intriguing-new-shareholder

“When Kuo approached Mudajaya, he wanted to ensure the continuity of the company’s key personnel and to instil more confidence in shareholders, that was why myself and Eric were offered the stake [through Chamber Jewels]. And once the restructuring exercise is out of the way, Mudajaya’s focus will be on selling power. The power purchase agreements (PPAs) are all in place, with just some documentation left,” he says.

Mudajaya is hoping to start selling power soon from the second, third and fourth units of its coal-fired thermal power plant in India, Wong says, which is being undertaken by RKM Powergen Pvt Ltd in which Mudajaya owns an 18.93% stake. The fourth and final unit of the plant achieved its commercial operation date in March.

Mudajaya will also work on strengthening its balance sheet and reducing its gearing to a reasonable level, which could use some help from Kuo, apart from the proceeds from its private placement exercise that is expected to be completed by year-end.

“Mudajaya has done a lot of good work over the last few years. Although it was difficult, with India being a big challenge, the company is turning a corner on our India [investment] now. From there, it will be plain sailing,” Wong says.

Mudajaya back in the black after 13 straight quarterly losses

November 29, 2019


https://www.theedgemarkets.com/article/mudajaya-back-black-after-13-straight-quarterly-losses


“Hence, no further share of losses in RKM was recognised in the current quarter,” it added.

Mudajaya has reported quarterly losses since 2QFY16, mainly dragged by its independent power plant (IPP) investment in India.

“The investment in the IPP in India via the group's 26% associate RKM continues to pose challenges to management even though all four units of the IPP development have achieved commercial operation status.

There is some reprieve for the group's balance sheet resulting from the net carrying amount of RKM in the group's books having been fully adjusted to nil from prior share of losses; hence, there is no further equity accounting for RKM losses from this quarter onwards,” said Mudajaya.

The group said it is currently working on a proposed resolution plan with its lenders, and that the conditional share sale and purchase agreement it signed for the proposed 7.07% stake disposal is pending fulfilment of certain conditions precedent.

It said to date, RKM is supplying up to 350 MW power to several power distribution companies in the State of Uttar Pradesh and has also entered into a pilot agreement for the procurement of power with PTC India Ltd for the supply of 550 MW power from Units II and II for a period of three years.

“These contracts are expected to contribute positively to RKM's results upon the eventual commencement of power sales,” Mudajaya added.

4 units in operation now compared to 1 unit of 360 MW and price is 4 times lower now than when the above article came in 2014

...................

Meaning Mudajaya is 8 x times more sexier now compared to when Koon found it attractive in 2014

Post removed.Why?

at estimated 100M profit per annum by the management, its eps will be double of malakoff

due to high depreciation, free cash flow will be very good

Milestone for Mudajaya's India power plant as final unit attains commercial operations

March 21, 2019

https://www.theedgemarkets.com/article/milestone-mudajayas-india-power-plant-final-unit-attains-commercial-operations

Mudajaya Group Bhd said the fourth and final unit of its long-delayed coal-fired thermal power plant in India has achieved its commercial operation date (COD).

Slightly more than a year ago, Mudajaya Corp disposed of a 7.07% stake in RKM to Apollo Ventures Co Ltd for US$19.5 million, reducing its stake in the Indian independent power producer to 18.93%.

The power plant has a total capacity of 1,440 mW, comprising four generating units of 360 mW each.

Shares of Mudajaya Group settled unchanged today at 31 sen. The stock has lost 58% of its value over the past one year, to now have a market capitalisation of RM182.86 million.


..........................

19% stake on a 1440 MW Thermal power plant with a market cap of 300M now

the above may explain the renewed interest from market on Mudajaya

Jaks Resources - Hydro power no longer cheaper than Coal power to Vietnam

Author: DK66 | Publish date: Wed, 15 Jan 2020, 10:32 AM

https://klse.i3investor.com/blogs/Jaks%20resources/2020-01-15-story-h1482158721-Jaks_Resources_Hydro_power_no_longer_cheaper_than_Coal_power_to_Vietnam.jsp

no wonder Mudajaya is rising non stop

this only ensures cheaper price of coal in the future

Posted by DK66 > Jan 17, 2020 1:31 PM | Report Abuse

However, the statement below is certainly true

"Don't forget there are now increasingly number of banks who refuses to issue loans to any coal related projects as part of their CSR obligation."

oh, you answered him dk...didnt see that earlier

sjh, i think DK66 was specifically comparing hydropower with coal...since coal price had come down tremendously due to active prevention of their usage in developed countries like U.S

hydropower energy is the cheapest of all...not correct to dump it into expensive green energy like solar

https://www.forbes.com/sites/dominicdudley/2019/05/29/renewable-energy-costs-tumble/#4bafe92e8cea

Hydroelectric power is the cheapest source of renewable energy, at an average of $0.05 per kilowatt hour (kWh), but the average cost of developing new power plants based on onshore wind, solar photovoltaic (PV), biomass or geothermal energy is now usually below $0.10/kWh. Not far behind that is offshore wind, which costs close to $0.13/kWh.


Posted by soojinhou > Jan 17, 2020 11:50 AM | Report Abuse

I think your statement is illogical. Green energy has always been more expensive than dirty energy. That's why those who can afford to do so will invest in green energy like solar, hydro or wind, and those who cannot afford to do so, invests in dirty coal plants. The fact that hydro energy trades at parity to coal energy is shitty news for the coal industry. For if green energy cost the same as dirty energy, no sane country will invest in dirty energy. In fact, last year probably mark the turning point in global climate change awareness that will potentially turn the world increasingly hostile towards fossil fuels especially coal. So those expecting JAKS to trade at similar valuation to MFCB, I think you all need to see how cheap coal miners are to understand where is the world moving in the future. Don't forget there are now increasingly number of banks who refuses to issue loans to any coal related projects as part of their CSR obligation.

imagine u had selected mudajaya too

2020 could be a very powerful year for power plants

future is all electricity

MFCB - Begins Transmission To Cambodia

Date: 16/01/2020

Source : PUBLIC BANK
Stock : MFCB Price Target : 6.29 | Price Call : BUY
Last Price : 5.46 | Upside/Downside : +0.83 (15.20%)



We came away from our meeting with Mega First (MFCB) last Friday with the confirmation that constructions of the Don Sahong Hydropower plant together with the transmission lines in Laos and Cambodia have been fully completed. All four turbines are fully commissioned amid the on-going dry season in Laos. The company is also escalating the process for the construction of a 5th turbine which is expected to take about 2 years. Given the softer global interest rate environment, we impute lower borrowing costs at both the operating (Don Sahong plant) and Group (MFCB) levels, which consequently lifts our SOP based TP to RM6.29 (RM5.71 previously). Outperform call is affirmed.

Selling 195MW to Cambodia. 195MW of power generated from 3 turbines is transmitted from the plant in the Champassak province to the Stung Treng electricity substation in Cambodia through the new high voltage 500kV transmission lines. The remaining 65MW will be channeled to the Ban Hat substation for domestic usage. Under the purchase agreement, the Cambodian government will buy a total of 2,900MW from Laos between 2020 and 2027, of which 500MW will come from hydropower plants at a price of 7.29 US cents/kWh and 2,400MW from coal-fired power plants for 7.70 US cents/kWh. Meanwhile, Electricite du Laos will purchase the power from the Don Sahong hydropower plant at a price of 6.15 US cents/kWh based on a “take or pay” basis.

Depending on the availability of electricity production. Though the four turbines have a combined installed capacity of 260MW/hour which can generate up to 2,000 GWh p.a., electricity production will ultimately be subject to water levels. Based on our channel checks, water levels have dropped by 10% from its normal level as the country is currently experiencing dry weather conditions until late-April. The utilization rate is expected to be lower in the coming months, averaging 76%-81%. Our assumption is based on a full-year utilization rate of 88% as electricity production could potentially hit maximum capacity during the wet period in May-Sept.

5th turbine on the way. Management has received approval-in-principle for a 5th turbine at the same site. The targeted capacity is around 50MW-65MW with an expected capex of USD50m-60m. Management plans to speed up the approval process before its EPCC contractor, Sinohydro re-mobilizes its resources elsewhere. It will be a key re-rating catalyst for the Group, potentially contributing an additional 20%-25% to the Group’s bottomline starting from 2022.

Lower borrowing costs. We cut our assumption on the finance cost by 1.5% at both the operating (Don Sahong) and Group (MFCB) levels in light of the softer interest rate environment. However, the earnings impact is relatively small as the cost saving was offset by lower earnings forecasts on the resources segment given the weak global demand. Our TP is consequently lifted to RM6.29 from RM5.71. Meanwhile, management had earlier guided that the Don Sahong project cost will be lowered from USD401m to USD366m given the lower-than-expected borrowing costs

Jordan (Middle East) has way much higher risk like Mudajaya...than our close neighbour Vietnam with Chinese JV partners

100 Million profit/ qtr from power plant for YTLPOWR = 1.2 cents EPS/qtr

give discount 50% on the above for JAKS, 50 Million profit/qtr

= 8.5 cents EPS/qtr

...................


simply put, JAKS share price should be 7 "SEVEN" x times higher than whatever share price rise YTLPOWR has due to its power plant.


YTLPOWR rise 20 cents means JAKS should rise by 140 cents
..........................................................

thanks for the update psng1215

pjseow - "likely the champ of 2020"

if i had participated i will be a copycat of pjseow picks

TQ

congrats to those who went through its dips at 1.18 twice earlier and managed to have strong faith

hope today's performance gives a strong message to those who have not really looked into Jaks..

kindly go through all of DK66 postings
......................................

Indonesia's 30 cities population = Malaysia's total country population

http://worldpopulationreview.com/countries/indonesia-population/cities/

City name / 2020 Population
...........................

Jakarta 8,540,121
Surabaya 2,374,658
Medan 1,750,971
Bandung 1,699,719
Bekasi 1,520,119
Palembang 1,441,500
Tangerang 1,372,124
Makassar 1,321,717
Tangerang 1,303,569
Semarang 1,288,084
Depok 1,198,129
Batam 1,164,352
Padang 840,352
Denpasar 834,881
Lampung 800,348
Bogor 800,000
Malang 746,716
Pekanbaru 703,950
Balikpapan 700,000
Yogyakarta 636,660
Situbondo 600,000
Banjarmasin 572,837
Surakarta 555,308
Cimahi 493,698
Pontianak 455,173
Manado 451,893
Balikpapan 433,866
Jambi City 420,323
Ambon 355,596
Samarinda 355,160

TOTAL population of above 30 cities:

36 Million
...........

Fantastic! even unit 2 had been installed.

Thanks for the update Ricky Kiat

try advertising with full details...may be some others are interested.. me no..even 500 ringgit...no interest:(

im lazy alex on survey....please excuse me...TQ

not worth it to gamble on the volatility of crackspread for refinery....

go for power plant with recurring cash flow for ages.....25 years

stay away from refinery...

Yes sifu, how are u doing?

when it comes to Koon - especially

if Koon can listen to Desa...would it be that hard for him to listen to OTB? If not now (giving the benefit of doubt)....how about when the power gets into the grid?

we always need to see through...beneath what is apparent in i3

Pjseow, maths of chemical engineering still not as advanced as electrical engineering maths. I have learnt the fundamentals and practical side of electricity, induction motors and the controls system during working life.

Thank god at least stock market maths is not so complicated..its the business sense like yours which is truly priceless knowledge.