Unlike coal fire or gas fire power plant, which need feedstock to generate power. Solar is essentially getting FOC solar ( but limit only to day time) and WTF charge tipping fee on waste collected (extra profit), generate power from waste to sell electricity ( dual income)

The financial statement is backed by asset work in progress in WTF, LSS2 and LSS3.

The net cash inflow will start record in financial statement once thesde project start commission

Remark: Cypark now is already in last mile after long gestation of its 3 core project WTF, LSS2 and LSS3. A little more time is needed in 2022 to spur turnaround for cypark

Of course the WTF power plant is genuine as plant is located clearly in NS and LSS2 and LSS3 all can be locate easily in their respective site with work in progress solar panel built up clearly observe.

Cypark share price alreaady at bottom level, all awaiting first WTF to start commision, generate high profit margin asnd net cash inflow from operation. On top of that, 2022 will also commision its LSS2 100MW and LSS3 150MW, all ready to strat generate net positive cash flow.

Hence, 2022 is definitely turnaround for cypark, all major project, First WTF (Q1 2022) + LSS2 (Mid 2022) and LSS3 (end 2022) set for completion while awaiting award for another 2 WTF for Melaka and Johor

Cypark WTE yet to start commision, therefore, there will no cash infl;ow from opeeration. WTF now at final specialize work, cypark recognize these final progress stage as work in progress value. These final stage is on track to complete very soon as country border have open to allow specialist to perform such final work on WTF.

After so much delay, its final court down time for cypark to start commision the most lucrative WTF concession witin next 1-2 month now.

hahaha, the fact is all electrity generated in Malaysia are own by private, but through governmenet linked fund, have equity stake in tenaga, malakrof, YTLP

State is through its wholly own investment company to joint cypark. State governement itself is no good in running business, it only focus on stake ownership in power plant, therefore it need specialist cypark to buit, operate power plant and taking stake together with cypark to jointly own power plant

Collection waste is under state and local government management, waste managment is charge to residence and industrial through cukai picture. Waste to energy is additional profit contributor to state coffer. State own company joint cypark to built waste to energy is best concession business model

Cypark is participating in two WTE tenders in Johor and Malacca in
collaboration with Johor and Malacca state owned companies. The two WTE tenders are part of the five WTE tenders
that were announced by KPKT under its national WTE implementation plan. With the track record of constructing,
owning, and operating the country’s first WTE plant, Cypark stands a good chance to win more WTE projects in the
future. Cypark expects future WTE plant capacity to be between 15MW to 25MW with an expected investment value
of above RM500 million each

Remark: Tender already call in early 2021, the outcome will release in early 2022

Two more WTE expect to announce early next year, Johor and Melaka, each value RM 500m. The award is almost certain as cypark JV with state wholly own investment company to jointly bid for these project.

Solar power plant no longer attractive business concession, profit margin already down to mid single digit due to low power traffic rate.

Up next is waste to energy power, the most lucrative power plant, reap double digit profit margin, derive dual profit source, waste tipping fees and energy traffic

https://www.thestar.com.my/business/business-news/2021/12/20/china039s-property-distress-sours-steel-sector-in-warning-sign-for-economy

ATAIMS management arrogant response much alike Serbak dynamic poor management, both blame external factor rather than own responsibility.

Dyson, privately owned by British billionaire James Dyson, said it received the results of an audit of working conditions at ATA in early October. It said it had also learned in September about allegations from a whistleblower about "unacceptable actions" by ATA staff and had commissioned a law firm to investigate those claims.

"Despite intense engagement over the past six weeks, we have not seen sufficient progress and have already removed some production lines," Singapore-headquartered Dyson said in response to questions from Reuters.

"We have now terminated our relationship with six months' of contractual notice. We hope this gives ATA the impetus to improve, and enables an orderly withdrawal in the interests of the workers that they employ."


Remark: Dyson did it own audit to investigate ATAIMS, Dyson fed up with ATAIMS poor manegemnt response, thus, decided to terminate contract.

Based on 2 statement issue by ATAIMS, solely claim and blame external factors that casue and resulted current issue, without self resposebilitiy....indeed deserve slap by dyson

ATA considers all key issues closed and, as it steps up on its ESG efforts and works towards better ESG initiatives, the Company reiterates that it is firm in its commitment to continueworking closely with the Government, the Ministry of Human Resources, and relevant bodies this is space.

ATA hopes for all parties to be fair and to await the response from the offices of the AttorneyGeneral of Malaysia on the revocation of the summonses by JTK Johor Bahru; and to consider ATA’s remedial measures in ensuring the wellbeing of its local and foreign workforce; and to maintain a neutral and balanced position in reporting of the Company.


Remark: ATAIMS statement blame all other factors. Such arrogant ATAIMS management statement indeed derseve Dyson termination

Mr Andy Hall said, “I am glad to acknowledge the positive momentum, transparency
and openness shown by SKP’s leadership to engage me regarding my legitimate
concerns raised and then to effectively put in place a clear timeline and action plan to immediately remediate remaining labour issues from the Company’s operations.”

Mr. Andy Hall added, "SKP has indeed shown urgency and demonstrated their ability
to put in place a fast, well organised, professional and effective action plan in response to the concerns I have raised. I am confident this action plan when implemented can significantly benefit the migrant workers of the company. SKP’s response and commitment to this issue is commendable."

“I look forward to working together with SKP, based on the findings from the
independent social compliance audit to be commissioned by the Company in April
2022, to ensure migrant worker’s rights and worker welfare are continually prioritised within the Company’s operations.” Mr. Andy Hall added.

The Company’s workforce is made up mainly of local (Malaysian) workers.
During the pandemic, when the Government had instated the national
lockdowns (known as the Movement ControlOrder, MCO) and businesses were
ordered to limit or stop operations altogether, most of ATA’s local workers had
chosen to leave the Company in favour of pursuing gig work.

After the MCO was lifted, these workers chose to continue working in various
gig economy jobs, such as in malls, theatres, restaurants, as well as logistics.


Remark:
ATA IMS not only facing foreign worker issue, but also failed to retain local worker, presumbly due to very poor management. Those chase high today, hoping for Dyson reinstate ATAIMS contract will face tumbling price tomorrow.

Topglove start re enter to lucrative US market still will report reducing profit, how about suoermax profit after kick out for US, UK, Canada lucrative market?

Supermax ambition capacity expansion will hit snag, estimation to based on future capacity expansion to cover shortfall in ASP is not workable at all as expansion will slow down or terminate in view of declining ASP

The major purpose for virus mutation is for its own long term survival, Omicron mutation allow virus to cause less severe to its host illness, so to allow virus to spread faster and become dominant variant suppressing more deadly delta variant.

Harta OEM business model is more stable as its secure long term contract order from long term customer.

Supermax OBM business model is more risky as it need to market its own brands, to sell direct to end buyer such as oversea gov/ hospital is extreme difficult now due to banning on labour issue

Supermax in actual outperform double if compared to harta price which alrdy back to prepandemuc price level.

Although supermax OBM business model allow it to fetch higher profit margin if compared to harta, but its 2 key OBM center in North American and UK alrdy ban, many new glove maker also follow OBM model, harta too adpot OBM model in New Zealand and Australia.

Many may emphases on its cash, but it committed allocate these cash to US and UK, unable to share buyback and after share dividend, more free share in market and dilute EPS forward.

Supermax may need to paid high price tag to US to fast track set up it plan big capacity glove manufacture plant in US, in exchange to lift ban order.

Big cash hoard in supermax force to relocate to US, hire American to produce glove

Supermax profit margin will fall cliffs next Q due to diminishing earlier prepayment contract order which fetch USD 70/1000pc, such lucrative order now is at tail end, next Q result will based on prevail current market ASP at USD 35/1000pc. Be caution

Don fall trap to catch falling knife or chase high on news on virus variant, Don repeat mistake again.

Don repeat same mistake, avoid get entrap back againn.

Omicron symptoms is milder tha Delta

The main purpose for Virus to keep on mutate is for its own long term surival, to betteer itself adapt to host human body without casuing too severe illness, its ultimate goals.

The catayst to push up share in fact is no due to mutate virus, but rely soley on anticipation that it will puch up higher ASP.

If production volume can meet supply or overflow global supply due to aggressive expansion, ASP will still on track back to normalization

Today, supermax again entrap another round of fresh retail chaser.....

Glove stock repeatly entrap more and more retail investor. Caution, Don chase and fall to these entrapment.

The best and faster way to recoup confident is director now buy share from open market.

Dyson is good enough to give 6 month notice before terminate. Ataims must use these 6 month grace period to fill up dyson 80%, hard time though as ataims reputation already spoil

Hi pjseow, are you intend to entitle supermax share dividend and cash dividend, continue hold for long term?

Ays is steel trader, its business model is buy low sell high, buy high sell higher. As long as global steel demand increase, AYS will make money.

Revenue increase, profit increase, profit margin depend on spread gap between buy price vs sell price to end customer

US need a lot of steel from oversea to buid its infrastruture and aluminum to buid its solar energy. It have to abolish import tax from oversea steel and aluminum now, to increase import volume to meet high local demand

Hilmi22

Please go back to search news on earlier Trump impose traffic on EU steel and aluminum 2 year ago, all steel stock tumble on trump impose tax on import steel/alumiumm to protect US own steel manufacture.

Now, if US ablish tax on steel and aluminum, what will happen? it will encourage steel export to lucrative US steel market which command higher premium price.

Supermax OBM business model is bad model now due to bad publicity, US ban order will smear supermax branding badly. It adversely impacted OBM integrately from production, dealership, markerting altigerher

Beware of risk cancellations on supermax exiting prepayment lucrative contractual contract worth billion ( based on prepayment 30-40% deposit RM 660m). If contractual deal is terminated, dealer may get back their deposit instead of forfeited by using US customs order as excuse.

Dealer keen to terminate contract as they paid very high ASP to supermax prepayment deposit for contractual order, suffering loss as market price is much lower than their contractual ASP.

Nevertheless, short term small catayst may prevail if supermax able to repeat last year one off share dividend to distrbute all its balance treasury share these month.

Pjseow, its best to await for next few Q ahead, after all supermax one off high ASP pre-prepayment contractual order book fulfill, earning to start reflect real spot market ASP, then to decide on re- enter level next year for its sustainanable ASP forward.

Global re-open economy, hike crude oil, Inflation, higher interest rate, China nitrile capacity expansion will cause raw material, expecially butadine, a petrochemical product from crude oil will remain elevated. Input cost increase + ASP on downtrend = lower net profit margin

Pjseow

In your analysis, net profit margin need to adjust near to pre pandemic margin which is more important than adpot prepandemuc ASP. In time of inflation, many raw material have hike, rubber, electricity, gas, butadiene, packaging, transportation cargo charge etc. Bear in mind, pre pandemic net profit margin only range 4% to 6%, even with cost pass through clause, if compared to your assumption of 20%. For more optimistic, 10% net profit is more likely in view of higher capacity volume for larger economy of scale, modern automation for cost saving.

Dear pjseow

Despite of your insistence on supermax, beware of current opportunities cost loss. Supermax current earning is mask by its earlier book prepayment contrctyal order price us is much higher than current downtrend spot price.

These earlier booked high ASP prepayment contractual orderbook will diminish in next 1 or 2 quarter. Then after, the profit will cliff down significantly to reflect actual ASP price.

Supermax real profit impact will likely stabilise only after 3 or 4 quarter next, which i think will be better time to re enter for bottom fishing and value buy for its net cash position and high dividend yield.

BURSA MALAYSIA GRANTS AUTOMATIC 1-MONTH EXTENSION FOR ISSUANCE OF FINANCIAL STATEMENTS AND ANNUAL REPORTS DUE ON 31 MAY 2021 AND 30 JUNE 2021

BURSA MALAYSIA GRANTS AUTOMATIC 1-MONTH EXTENSION FOR ISSUANCE OF FINANCIAL STATEMENTS AND ANNUAL REPORTS DUE ON 31 MAY 2021 AND 30 JUNE 2021

BURSA MALAYSIA GRANTS AUTOMATIC 1-MONTH EXTENSION FOR ISSUANCE OF FINANCIAL STATEMENTS AND ANNUAL REPORTS DUE ON 31 MAY 2021 AND 30 JUNE 2021

Maybulk with net cash position after disposed old small vessel, it can in future order new larger capsize vessel to improved profitability in future. No of vessel is not important, just like Armanda have huge no of small loss making vessel, force to dispose to trim debt, offset profit generating larger vessel.

In future, maybulk should move to larger vessel, capsize and panamax size, get rid of small vessel, handy size and supramax size.

Maybulk needless to rush to buy new vessel at current high cost level. It can opt to lease third party new vessel to temporary increase vessel in operation to size short term high rate opportunity. For long term, maybulk should order new larger capsize vessel which is now new trend, fetch higher charter rate and have high economic of scale in operating efficiency.

Maybulk adpot different strategy if compared to glove maker which in time of ASP hike, rush to expand capacity by double, which will end up with flush of supply if glove, leading to ASP tumbling and oversupply in near future. Maybulk, capitalise on current hike in charter rate to dispose 2 old vessel at attractive price, monetize asset, turning into net cash position while retain newer vessel to continue enjoy higher profit margin.

Maybulk marked up selling price of its handy size vessel in May to gain additional RM 6.6m. Maybulk may marked up further its selling price supramax in Sept further from gain 75% over book value to 90% or even 100% over book value based on current bullish trend in charter rate