Dear all,
I do not know why I cannot paste the below comment on DK66 article: https://klse.i3investor.com/servlets/forum/600200864.jsp
Thus I post it under my blog
Dear DK66,
Just back from over sea travel and look into i3 investor.
Borrow a phrase from quack, quack, quack,
“Integrity to self, integrity to others. In stock market, want to cheat others can end up only cheating yourself.”
So my advice to quack quack quack, walk the talk please?
Thank you
Dear DK66
I attended 2017 AGM and come out not convince of ALP ability nor his integrity. Thus I sold my JAKS share for small profit and never look back.
Some of questionable deal you should bring out at the next AGM.
1. On behalf of the Board, Kenanga IB is pleased to announce that the Placement has been completed on 30 March 2018 following the listing of and quotation for 49,631,200 Placement Shares on the Main Market of Bursa Securities. This announcement is dated 30 March 2018.
Question: This 10% private placement placed to whom? Is this PP to many shareholders with less than 5% each thus no announcement of new substantial shareholders? Are these shareholders still holding to their PP?
2. 51% Subsidiaries: Ask who are the other 49% equity holders, paid up capital, current P&L and Balance Sheet?
Note: For what I know a 51% JV is for the 49% equity holders (usually related parties) to share the profit and when things turned to losses JAKS to hold the whole baby.
3. Quote from you “Accounting standard IFRS 2 requires an entity to recognise share-based payment transactions (such as granted shares, share options, or share appreciation rights) in its financial statements, including transactions with employees or other parties to be settled in cash, other assets, or equity instruments of the entity
In this case, a very large portion of the LTIP was granted by way of RSP. Around RM19m (38m x RM0.51) will be charged to P&L in Q1 2019. The amount is not spread over a certain number of periods as all RSP are fully vested on 8 Feb 2019. This is an unusual practice as RSP usually has multiple vesting periods to encourage employees to stay longer. Why?”
So please ask this question to CEO during next AGM.
By the way, many companies Management/Director exercise ESOS but I do not see any Cost to P/L only cash flow statement on Financial activities as Proceeds from issuance of shares.
4. For Malaysia operations: How to stop the bleeding and turn around the Malaysia operation moving forward?
5. As of Vietnam IPP: You are the knowledgeable one so prepared all your questions and verified with BOD.
6. Capital contribution contracted but not provided for in respect of shares subscription in JAKS Pacific Power Limited, joint venture of the Group amounted to approximately USD92.14 million or RM381.3 million. Will the balance Vietnam EPC construction works net profit able to pay for this RM381.3 million or need further capital injection?
7. Jaks’s equity holding less than 50% on JAKS Pacific Power Limited. JAKS can only equity account for the profit/loss as associate company. The cash flow will depend on dividend receive, thus does JAKS Pacific Power Limited has a formal dividend policy?
Thank you
P/S: I am at 13th on Xingquan 30 top shareholders list and did not sell any even I know that most likely I will never see my money again. I prepare to loss all when I persuade SC and Bursa with numerous follow up email/meeting to take action on Xingquan Board and to seek the truth and nothing but the truth. The truth hurt/pain and unfortunately “the truth” is many people prefer to live in their make believe world. It is Ok to cheat, deceived and steals as long as it benefited me too? Apa malu Bossku!
Part of my last email to SC and BURSA:
I refer below Media releases and announcements dated 29th March 2019:
https://www.sc.com.my/news/media-releases-and-announcements/sc-reprimands-three-china-based-companies-and-says-retention-of-four-directors-prejudicial-to-public-interest
https://www.sc.com.my/regulation/enforcement/actions/administrative-actions/administrative-actions-in-2019
http://www.bursamalaysia.com/corporate/media-centre/media-releases/6041
Thank you for investigating and taking administrative actions/reprimands action on CSL, Xingquan and Maxwell. In view of seriousness of offends/frauds committed by the fraudsters and their total disregard/contempt shown against authorities of SC and BURSA with no respect for Malaysia Law. Hence it is my hope that SC should now make an extradition request with China government to extradite these China citizens to stand trial in Malaysia Court.
https://klse.i3investor.com/blogs/Sslee_blog/201235.jsp
I do not know why I cannot paste the below comment on DK66 article: https://klse.i3investor.com/servlets/forum/600200864.jsp
Thus I post it under my blog
Dear DK66,
Just back from over sea travel and look into i3 investor.
Borrow a phrase from quack, quack, quack,
“Integrity to self, integrity to others. In stock market, want to cheat others can end up only cheating yourself.”
So my advice to quack quack quack, walk the talk please?
Thank you
Dear DK66
I attended 2017 AGM and come out not convince of ALP ability nor his integrity. Thus I sold my JAKS share for small profit and never look back.
Some of questionable deal you should bring out at the next AGM.
1. On behalf of the Board, Kenanga IB is pleased to announce that the Placement has been completed on 30 March 2018 following the listing of and quotation for 49,631,200 Placement Shares on the Main Market of Bursa Securities. This announcement is dated 30 March 2018.
Question: This 10% private placement placed to whom? Is this PP to many shareholders with less than 5% each thus no announcement of new substantial shareholders? Are these shareholders still holding to their PP?
2. 51% Subsidiaries: Ask who are the other 49% equity holders, paid up capital, current P&L and Balance Sheet?
Note: For what I know a 51% JV is for the 49% equity holders (usually related parties) to share the profit and when things turned to losses JAKS to hold the whole baby.
3. Quote from you “Accounting standard IFRS 2 requires an entity to recognise share-based payment transactions (such as granted shares, share options, or share appreciation rights) in its financial statements, including transactions with employees or other parties to be settled in cash, other assets, or equity instruments of the entity
In this case, a very large portion of the LTIP was granted by way of RSP. Around RM19m (38m x RM0.51) will be charged to P&L in Q1 2019. The amount is not spread over a certain number of periods as all RSP are fully vested on 8 Feb 2019. This is an unusual practice as RSP usually has multiple vesting periods to encourage employees to stay longer. Why?”
So please ask this question to CEO during next AGM.
By the way, many companies Management/Director exercise ESOS but I do not see any Cost to P/L only cash flow statement on Financial activities as Proceeds from issuance of shares.
4. For Malaysia operations: How to stop the bleeding and turn around the Malaysia operation moving forward?
5. As of Vietnam IPP: You are the knowledgeable one so prepared all your questions and verified with BOD.
6. Capital contribution contracted but not provided for in respect of shares subscription in JAKS Pacific Power Limited, joint venture of the Group amounted to approximately USD92.14 million or RM381.3 million. Will the balance Vietnam EPC construction works net profit able to pay for this RM381.3 million or need further capital injection?
7. Jaks’s equity holding less than 50% on JAKS Pacific Power Limited. JAKS can only equity account for the profit/loss as associate company. The cash flow will depend on dividend receive, thus does JAKS Pacific Power Limited has a formal dividend policy?
Thank you
P/S: I am at 13th on Xingquan 30 top shareholders list and did not sell any even I know that most likely I will never see my money again. I prepare to loss all when I persuade SC and Bursa with numerous follow up email/meeting to take action on Xingquan Board and to seek the truth and nothing but the truth. The truth hurt/pain and unfortunately “the truth” is many people prefer to live in their make believe world. It is Ok to cheat, deceived and steals as long as it benefited me too? Apa malu Bossku!
Part of my last email to SC and BURSA:
I refer below Media releases and announcements dated 29th March 2019:
https://www.sc.com.my/news/media-releases-and-announcements/sc-reprimands-three-china-based-companies-and-says-retention-of-four-directors-prejudicial-to-public-interest
https://www.sc.com.my/regulation/enforcement/actions/administrative-actions/administrative-actions-in-2019
http://www.bursamalaysia.com/corporate/media-centre/media-releases/6041
Thank you for investigating and taking administrative actions/reprimands action on CSL, Xingquan and Maxwell. In view of seriousness of offends/frauds committed by the fraudsters and their total disregard/contempt shown against authorities of SC and BURSA with no respect for Malaysia Law. Hence it is my hope that SC should now make an extradition request with China government to extradite these China citizens to stand trial in Malaysia Court.
https://klse.i3investor.com/blogs/Sslee_blog/201235.jsp
