Reenter back ytl after notice cimb report on ytl, high odds to secure RM 11 billion MRT3 above ground package due to ytl capability bid at lowest cost

YTL bid is lowest in MRT3 above ground track, likely due to its low cost land holding via YTL land in sentul and in house supply chain building material concrete precast and cement.

use margin line, sapu all ytl at 93.5sen

TA is bullish, heading to breakout RM 1.00

bought back ytl at 95sen

sold partial ecoworld at 82.5sen

As at 31 October 2022, the outstanding amounts owing by our joint venture companies to our
Company is about RM1.75 billion. As the cash proceeds of our joint venture companies from
the future sales of the remaining completed property units will be utilised to repay these
outstanding amounts owing to our Company, such repayment would not translate into retained
earnings of our Company. Accordingly, given the existing accumulated losses position of the
Company, we would not be able to distribute the excess cash available to shareholders by way
of dividend distributions.

EWI will get back cash RM 1.75 billion once JV company fully repay back its borrowing. In short, EWI in future still have very strong cash flow

higher dividend is expected in coming Q result

Breakout 80sen

cup and handle formation

Super strong momentum

Q1: What is the remaining working capital
after distributing the targeted RM900
million and what is left in the Company
after the distribution?

A1: Upon achieving our sales target of
RM1.4 billion which facilitates
distribution of up to RM900 million
excess cash to shareholders in year
2023, the Group will still have
approximately RM400 million worth of
completed stocks to be sold in FY2024.
The sales of these stocks will continue
to generate cash for the Group.
EcoWorld London still has 6 ongoing
and new projects which could be
partially funded with debt

Q2: How much is the future GDV of
undeveloped land inventory on hand?

A2: The estimated GDV of the projects that
have yet to be launched is
approximately RM8 billion. After
the proposed capital repayment
exercise, the Group will still have
future phases in 3 ongoing projects and
another 3 new projects in London
which have yet to be launched. As
such, there is still significant value left
within the Group after the proposed
capital repayment.

After dividend payout RM 900m, EWI still have excess cash RM 450m + undevelop land worth GDV RM 8 billion

added balance to EWI, all at 64sen

1 pound = RM 5.79 (year highest)

The resolutions on the Proposed DRP will be tabled at the forthcoming Annual General Meeting for your
approval. The Board is looking forward to announcing the Company’s maiden dividend payment to reward our
Shareholders.

sold back msc at 2.04-2.06

Just wait of above good news, stay tune

Courting down time for announcement subscription additional 10% stake to 40% in money making Vietnam power plant

Courting down time for announcement dividend reinvestment soon.

Courting down time for announcement 50MW solar power plant commissioning now

We also do not rule out the possibility of penalties being imposed on Bumi Armada from the shut-in of Kraken FPSO which would result in unfavourable impacts on the charterer’s financials. In the event that the group is required to fully compensate EnQuest for any earnings losses from the oil production outage in 3QFY23, we estimate the potential penalty to be RM63mil-78mil based on assumptions of: (i) daily oil production of 14K-15K barrels of oil per day, (ii) oil price of U$70-75/barrel, (iii) operating expenses of U$23-25/barrel, and (iv) MYR/USD of 4.40.
The operation hiccups may also dampen the group’s prospects in bidding for new projects despite its continued success in deleveraging its balance sheet over the past few quarters

Added more EWI at 63.5sen

sold petronM, locked all profit today

sold warrant at 13-14sen

Current price is only about half if compared to IPO price, and will get back 90% capital back within next 1 year from dividend payout while still enjoy GDV 8 billion undevelop project for future earning.

The writeback will reflect in P/L and revert back current negative retain earning into positive

Ecoworld as major shareholder in EWI will benefited the most from EWI dividend payout

bought ecoworld at 73-74sen

cut at 1.04

cut at 30.5sen

cut ays at 36.5sen

Upcoming Q result will record massive writeback on earlier impairment on properties investment due to strengthen pound vs. RM

EWI target to fully sold all completed unit worth RM 1.3 billion by Aug 2023

After dividend distribution based on completed unit RM 1.3 billion, EWI still have RM 8 billion GDV project for future development

better sold all its 51% stake in investment properties, evolve mall and star mall. Incur one off loss is far better than continue quarterly loss making.

Any new Constuction bidding will only focus on high margin and include current elevated inflation cost. But, unlikely for jaks to secure any new construction work now due to lack of gov and private spending.

It is wise for Jaks to focus on power generation, to secure more solar power even at net single digit profit margin, the more the better due to steady income over long term concession

Construction loss incur due to delay in work progress and higher cost material and labour cost. However, loss making construction work is at tailing end.

Just wait for COD announcement on 50MW solar power plant anytime now.

Bought at 60sen

Noted, hope can secure more solar power plant in future, thin profit margin but steady income over 21 year concession.

Local solar power plant profit margin is very thin, single digit only, but still far better than loss making mall.

Jaks still have about 6 to 9 month meet dateline to subscribe 10% additional stake. If JV need higher reserve cash as buffer in power plant, then, jaks cannot use all its retain profit in JV to use for subscription for 10% stake now.

However, any short fall of RM 200m is rather limited due to strong cash flow in JV every quarter. A fraction or even half of requirement fund to subcribe equity can easily source from short term banking bridge loan

Hope for betterment forward as further downside is limited now

Recent private placement should raise fund RM 22m, at least meet 2 quarter cash flow needed. Next month when 50MW reach COD, should give some positive cash flow to jaks. Within next 2 quarter, jaks should meet milestone to increase stake to 40% after put aside some reserve cash in JV.

Thereafter, jaks should start record positive cash flow onward through quarterly cash dividend declaration.

however, jaks may need another quarter or 2 to accumulate more profit in JV if JV require some reserve buffer cash in JV.

Under Jaks JV assest, RM 610m back by its 30% equity stake in power plant assets in JV, another RM 220m in JV is jaks retain profit accumulating more than 2 year operation. Therefore, Jaks can use its retain profit to subscribe its option to top up additional 10% equity stake now.

Please take note, Jaks JV asset account for its own 30% equity stake, exclude its china partner asset in JV

Why cannot??? every quarter jaks record share of profit from JV and these profit is accumulating under its JV assest. Since COD, jaks JV asset already increase by more than RM 200m from RM 610m to RM 830m which is correspond to jaks share of profit in 2021 RM 135m and 2022 ( RM 145m), nett of dividend payout RM 71m back to Malaysia.

The reason Jaks cannot opt to cash out all its retain profit from JV is to working to subcribe additional its 10% equity stake in JV.

Vietnam power plant is operating positive cash flow, in which is aim to declare maximum all profit to JV. Jaks is free to cash out from its profit in JV anytime if wan after meet minimum reserve cash buffer in JV.

Please do some home work by calculating Jaks JV assest since COD 2 year ago, which show the JV assest have increase from RM 610m to current latest RM 829m after nett off RM 71m dividend payout