Date : Time : JAKS RESOURCES BERHAD Registration No. 200201017985 (585648-T) (Incorporated in Malaysia) SUMMARY OF KEY MATTERS DISCUSSED AT THE TWENTIETH ANNUAL GENERAL MEETING OF THE COMPANY 29 June 2022, Wednesday 10.30 a.m. Set forth below are the Key Matters Discussed: No.
2. What is the current utilization rate of its Vietnam IPP project? How is unexpected increase in overhead cost in Vietnam IPP project affecting its profit margin?
- The availability factor is averaging over 70% in accordance with the PPA. - There is no unexpected increase in overheads cost, and in any event of one, we believe it will be passed through to EVN, the off taker.
Jaks : Vietnam Power Plant Project BOT 25 years concession tenure. >>
A ) Referred to FY21 Annual Report :
The turnaround to Profitability was mainly from the share of profit in the Vietnam joint venture which amounted to RM 140.7 million in FYE2021 as compared to RM3.8 million in the previous year .
B ) Referred to FY22 Annual Report :
The increase in Profitability arose from the Higher share of Profit from the Vietnam joint venture that rose by 11 % to RM 156.2 million.
And Dividend RM 70.0 million.
C ) Referred to 1st QR ended March 2023 :
Share of Profit in Joint Venture is RM 28,326,000 compared to March 2022 RM 33,936,000.
( Note : from Key Matters Discussed, the reduced Share of Profit is due to increased interest expenses .
D) Referred to 2nd QR ended June 2023 : Share of Profit in Joint Venture is RM 32,312,000 . Wow really a Cash Cow , 💪.
—
>> JHDP has been granted the Investment Certificate by the Ministry of Planning and Investment of Vietnam on June 2011 to develop a 2 x 600 MW Coal Fired Thermal Power Plant Project in Phuc Thanh Commune, Kinh Mon District, Hai Duong Province, Vietnam ("Hai Duong BOT Thermal Power Plant"), under the form of Build-Operate-Transfer ("BOT") for 25 years.
>>> Construction of Hai Duong BOT Thermal Power Plant has commenced in the first half of 2016. Hai Duong BOT Thermal Power Plant achieved the commercial operation for its first unit on November 2020, while the commercial operation for the second unit was achieved in January 2021.
Remember Do 3 Own : Own Homework, Own Analysis n Own DecisionS as only you know your Risk level . DecisionS: is changed Upon new information, new facts n figures.
Hai Duong Power Plant 2022: 2021 Adjusted profit for the financial year, representing total comprehensive income for the financial year 520,633,162 469,043,075
Included in total comprehensive income are: Revenue 2,553,073,558 3,011,637,528 Amortisation/Depreciation (317,750,163) (296,585,635) Interest income 3,493,288 1,736,511 Interest expense (265,209,747) (275,461,575) Taxation (17,199) (1,530,307)
Non-current assets 7,281,260,678 7,479,624,542
If you look into the JHDP account the high NP is because of different standard use in rate of depreciation (25 years) as oppose to some other accounting standard that use accelerate depreciation.
Jaks : Vietnam Power Plant Project BOT 25 years concession tenure. >>
A ) Referred to FY21 Annual Report :
The turnaround to Profitability was mainly from the share of profit in the Vietnam joint venture which amounted to RM 140.7 million in FYE2021 as compared to RM3.8 million in the previous year .
B ) Referred to FY22 Annual Report :
The increase in Profitability arose from the Higher share of Profit from the Vietnam joint venture that rose by 11 % to RM 156.2 million.
And Dividend RM 70.0 million.
C ) Referred to 1st QR ended March 2023 :
Share of Profit in Joint Venture is RM 28,326,000 compared to March 2022 RM 33,936,000.
( Note : from Key Matters Discussed, the reduced Share of Profit is due to increased interest expenses .
D) Referred to 2nd QR ended June 2023 : Share of Profit in Joint Venture is RM 32,312,000 . Wow really a Cash Cow , 💪.
—
>> JHDP has been granted the Investment Certificate by the Ministry of Planning and Investment of Vietnam on June 2011 to develop a 2 x 600 MW Coal Fired Thermal Power Plant Project in Phuc Thanh Commune, Kinh Mon District, Hai Duong Province, Vietnam ("Hai Duong BOT Thermal Power Plant"), under the form of Build-Operate-Transfer ("BOT") for 25 years.
>>> Construction of Hai Duong BOT Thermal Power Plant has commenced in the first half of 2016. Hai Duong BOT Thermal Power Plant achieved the commercial operation for its first unit on November 2020, while the commercial operation for the second unit was achieved in January 2021.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Johnchew5
11,612 posts
Posted by Johnchew5 > 2023-08-29 23:57 | Report Abuse
Date : Time :
JAKS RESOURCES BERHAD
Registration No. 200201017985 (585648-T) (Incorporated in Malaysia)
SUMMARY OF KEY MATTERS DISCUSSED
AT THE TWENTIETH ANNUAL GENERAL MEETING OF THE COMPANY
29 June 2022, Wednesday 10.30 a.m.
Set forth below are the Key Matters Discussed:
No.
2.
What is the current utilization rate of its Vietnam IPP project? How is unexpected increase in overhead cost in Vietnam IPP project affecting its profit margin?
- The availability factor is averaging over 70% in accordance with the PPA.
- There is no unexpected increase in overheads cost, and in any event of one, we believe it will be passed through to EVN, the off taker.