Posted by DK66 > 2019-09-21 23:51 | Report Abuse

My study was based on the construction schedule of Vinh Tan 1 and Mong Duong II as well as my knowledge of the industry. As the construction schedules may defer for different projects, the timeline can only serve as an estimate, not conclusive. Of course, could either be earlier or later.

Posted by Nikmon > 2019-09-22 00:54 | Report Abuse

It is certain that it will completed at least 6 months earlier.

Posted by Sslee > 2019-09-22 08:40 | Report Abuse

Hahahaha
deMusangking, I pray for those who purchase a unit at Pacific Star will have their VP soon.
Comment in lowyat forum on pacific star.
oliver77 @ Aug 19 2019, 07:58 PM
According to SPA it was supposed to be completed by Dec 2017. So will be 2 years delayed in a few months

Posted by DK66 > 2019-09-22 09:10 | Report Abuse

CPECC is a very experienced power developer in China. In Vietnam, after completion of Vinh Tan 1 power plant in Nov 2018, it has 2 on going power plant projects. One being Hai Duong power plant and the other is Duyen Hai 4. Duyen Hai power plant is 40% owned by Janakuasa, another Malaysian company under MMC group. Duyen Hai just begun construction not long ago. All these 3 power plants are around 1200MW in capacity.

Posted by cheoky > 2019-09-22 09:18 | Report Abuse

Buy tadmax better lo.all division making money n got pp too. Jaks kitchen always got cockroaches

Posted by DK66 > 2019-09-22 10:24 | Report Abuse

The current regime of high US$ exchange rate to Chinese Yuan as well as lower interest rate is benefiting Jaks' power project. Power plant equipment and construction materials are denominated in Yuan. As FOMC is lowering interest rate, borrowings denominated in US$ benefit from lower interest expense.

Posted by Investar2862 > 2019-09-22 11:49 | Report Abuse

JAKS in good position for re rating in 2020

Posted by hng33 > 2019-09-22 11:53 | Report Abuse

Over the year, Jaks have staggering provide LAD provision every quarter in accord to time delay in handover unit to purchaser till completion.

Therefore, once unit is confirm handover after completion, the earlier provision LAD in Jaks balance sheet will use to fund payout to purchaser as compensation for delay.

Thus, once the pacific property completed and handover within these year, it will officially ended Jaks to have to provide anymore LAD in its profit/loss statement, eliminate these loss making division totally.

Jaks also on track to break even its concept mall due to surge occupancy rate recently from 55% to over 80%. All in all, in next few quarter result will show great reduction loss making due to LAD and property investment in concept mall.

On the other hand, power plant construction profit will expedite to record balance of work till completion and then later commencement of new stream of steady income worth EPS 15-20sen pa from power profit next year

In time of China-US trade war, Vietnam is key beneficial country. Many manufacture in global supply chain have opt to shifted to Vietnam. Adequate Power supply is in great need, full capacity fire up to meet demand. Therefore, Jaks new power plant stand to benefit full capacity payment once operating in full capacity early next year.

Jaks director know the best of its own company, a game changer in coming, have keep accumulating low price Jaks in open market without interfering much market price now, a forward step before value emerging later once all loss making in LAD behind, heading to new profit making power plant.

Please take note the company holding the BOT is JAKS Hai Duong Power Company, which is in a 50:50 joint venture between Jaks and China Power Engineering Consulting Group Co Ltd (CPECC).

In turn of future profit recognition from power plant, Jaks have equal stake in the joint venture. Although the effective stake will dilute due to CPECC holding convertible preferential share in JV.

The revenue account in JV is very flexible. Take for example, ecoworld international have 70% stake in London project, but it opt not to recognize any revenue from JV. Sapura OMV have 50% stake in JV, also opt not to recognize revenue in JV. Another example is Malton dispose 49% in pavilion mall, still holding 51% stake and yet opt not to recognize in JV future revenue. Earlier example also like Puncak holding 70% stake in syabas, but opt no revenue in JV.

From above example, one can understand it is flexibility in accounting treatment once the company is classified as joint venture company. Either the majority stake, equally stake or minority stake in joint venture company can have option to consolidate or no in revenue recognition. However, the net profit is still based on effective stake in JV

Posted by PotentialGhost > 2019-09-22 11:59 | Report Abuse

They cannot solve the mall problem .

Posted by DK66 > 2019-09-22 13:08 | Report Abuse

Practice of proportionate consolidation of Joint venture accounts is rare in malaysia.

Posted by DK66 > 2019-09-22 13:09 | Report Abuse

Jaks is equity accounting its joint venture investments. Hence, revenue of joint venture will not be taken up.

Posted by DK66 > 2019-09-22 13:09 | Report Abuse

Only sharing of profit/loss of joint venture will be recognised in Jaks' group account.

Posted by Nikmon > 2019-09-22 23:21 | Report Abuse

At least 2 office tower are completed, mall is wrapping up..stop bleeding a bit which is good news....

Posted by DK66 > 2019-09-22 23:29 | Report Abuse

https://klse.i3investor.com/blogs/Jaks%20resources/226058.jsp

Posted by newbie8080 > 2019-09-23 19:27 | Report Abuse

Any idea if earnings is staggered from day1 of power plant being fired up?
Since the power plant is the sole revenue generator once the Malaysian property are completed by 2019, what will the company be earning in the Q1 2020?

Posted by DK66 > 2019-09-23 20:36 | Report Abuse

Jaks earnings in Q1 2020 will still be dominated by profit from EPC contract

Posted by Nikmon > 2019-09-24 22:25 | Report Abuse

Only 3 months, very fast