Posted by kai8994 > 2013-07-01 22:34 | Report Abuse

Spot on! Not even one among the research house mention about the high receivables. I wonder how they justify all the debts are collectible.

Posted by jhmeng28 > 2013-07-02 00:16 | Report Abuse

depending on the date on which the sales were made will impact the Co's receivables. Also depends which biz segment the receivables mainly relate to and who the customer is. if the receivables amounts relate to customers like tenaga who cypark sells power to is it reasonable to worry/impair the receivable amounts? This isnt a trading company where it simply just sells good. Trade & other receivables decreased in the last 6mnths by 21% approx, dont think thts really an issue. Plus revenue is mainly recognised under construction contracts so receivables and revenue will be lumpy. analysts dont usually talk about receivables becos if an impairment occurs its one-off and not recurring so they wud simply just add it back. they look at the bizness going forward.

Posted by Skyler Lee > 2013-07-02 00:25 | Report Abuse

most of the receiveable i belief is government, will you say government is default its payment?

Posted by jhmeng28 > 2013-07-02 07:56 | Report Abuse

no i am responding to the comments made up the Co's financial health, "burdened by huge receivables" is not actually a reason as to why one should not purchase the stock. If the government owes $ there is no issue on recoverability hence no issue with the "huge receivables".

Posted by tc2012 > 2013-07-02 08:09 | Report Abuse

could it be another maemode or megan or........

Posted by jhmeng28 > 2013-07-02 08:58 | Report Abuse

Bull case for cypark includes:-

1) Monopoly in SE Asia (high barriers to entry)
2) Government incentives and focus towards renewable energy, even if opposition comes in at the next GE unlikely to significantly affect cypark since it already has an established biz model by then + high capital commitments on startup which would deter new possible entrants.
3) Moving forward biz model = recurring energy sales to tenaga
4) High stable cash flows and margins
5) Biz model if proved successful can be replicated in emerging nations around SE Asia.
6) Waste disposal and environmental clean ups is a very defensive biz, decent margins, little competition, stable cash flows.
Whats not to like about this Co.