Fork's comment on CYPARK. All Comments

Fork
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Update: 11/March/2021

1) Intro

Malaysia Gov has shown unwavering commitment in meeting 20% of RE by 2025, that would be 6,000 MW in total. The Gov has awarded more than 2,000 MW of RE, where 1,634 MW (82%) is from solar energy (LSS Fast Track, LSS1, LSS2 & LSS3). Out of the 2,000 MW of RE, Cypark has already secured about 200 MW (10%) and targets to secure 1,000 MW of RE by 2025.

According to TNB AR 2019, Gas & Coal will continue to be the main source of power generation in the medium term, but there will be an increased uptake of renewable energy (RE) generation, especially solar.
- Coal (53.9%)
- Gas (42.30%)
- Hydro (3.1%)
- Solar (0.6%)
- Others (0.1%)
Cost of generating RE is getting cheaper as technology improves. The cost of generating Gas is at RM0.2322 /kWh while the cost of generating Solar is as low as RM0.1399 /kWh - LSS4. The industry foresees the future LSS projects will have bigger capacities of more than 1000 MW to meet 20% of RE and Malaysia Gov also targeting 6 x WTE Plants soon.

Malaysia needs US$8 billion investment to achieve 20% renewable energy target by 2025.



2) On-Going Projects

LSS1 - 15 MWac
- Targeted Commercial Operation Date: This year
- Daud (CEO) estimated RM10 million annually
- This will contribute to FYE 2021

LSS2 - 3 x 50 MWac = 150 MWac
- Targeted Commercial Operation Date: This year
- Daud (CEO) estimated RM25 million annually
- To contribute revenue in FYE 2021

WTE - 20 to 25 MWac
- Targeted Commercial Operation Date: Mid 2021
- Daud (CEO) estimated RM80 million annually
- To contribute revenue in FYE 2021

LSS3 - 100 MWac
- Targeted Commercial Operation Date: 2022
- Daud (CEO) estimated RM50-60 million annually
- To contribute revenue in FYE 2022

Net Energy Metering (NEM) ProjectS
- Unknown MWac

Once the above projects are completed, it will be owned, operate & managed by Cypark



3) Future Projects secured/announced

- MOU w/ Negeri Sembilan Corp - 50MW Solar Project (NEM)
- MOU w/ Kedah Gov - 100MW Solar Project (NEM)
- MOU w/ Petronas Chemicals - WTE Plant Project
- To add 5MWac to 10MWac of biomass/gas per year
- To supply RE directly to end client ( testing phase)



4a) Prospects on Green Tech and RE

According to AR2020, Cypark targets to achieve beyond 500 MWdc by FYE2022. According to Daud (CEO), Cypark is targeting a stable recurring revenue to be generated from the sales of energy (Green Tech and RE), which will make up 50% of the group’s total revenue by 2022 from the current 21.7%.

Cypark's revenue comes from four segments as follow:
* Data from Cypark AR2020 *
- RM214 | 79% - Environmental engineering
- RM20 | 6.5% - Landscaping and infrastructure
- RM4 | 1.3% - Maintenance works
- RM66 | 21.7% - Green Tech and RE

Cypark "Green tech and RE" revenue (MYR)
- FYE2014 - 34,954,629
- FYE2015 - 39,665,233
- FYE2016 - 46,544,314
- FYE2017 - 48,713,260
- FYE2018 - 48,784,125
- FYE2019 - 59,020,364
- FYE2020 - 65,856,536

According to the AR2020, by FYE2022, Cypark will increase its ownership of RE asset capacity to 245MWp from its current operating capacity of 47 MWdc.

In addition to its own assets, Cypark will operate a total of 150MWp solar assets under its EPCC + Operation and Maintenance (O&M) long term contract. In total, the number of secured capacity of solar assets built, owned and/or operated by Cypark will reach over 395 MWdc.

With only 47 MWdc, the sales of energy already contributing about 65 millions revenue annually. 395 MWdc definitely will contribute positively to Cypark revenue.



4b) Prospects on LSS 5, 6 & WTE

Cypark believe there will be further extension to the LSS programme possibly LSS5 and LSS6 as this will further enhance Malaysia’s green and renewable energy aspiration in achieving a total of 20% renewable energy mix by 2025.

Cypark's On Waste-to-Energy (WTE), is the first of its kind in Malaysia, is expected to be in commission by the mid of 2021. There will be another five WTE tenders that will be announced in the near future, targeted to be developed in Melaka, Johor, Pahang, and Kedah



5) Dividend

Cypark dividend policy is to distribute not less than 25% of its net profit to the shareholders, provided that such payout would not be detrimental to the operating cash flow as well as business development plans.



6) Cash Flow

According to AR2019, the remaining maturities of the borrowings are as follows:
- 184.8 million - On demand or within 1 year
- 53.2 million - More than 1 year and less than 2 years
- 220.2 million - More than 2 years and less than 5 years
- 715 million - 5 years or more
The reason of huge borrowing is due to building new power plants where large upfront capital investment are required.

Cypark has issued RM550 million Sukuk in FY2019. The RM550 million Sukuk is backed by the projects’ anticipated long-term recurring income from selling energy to TNB for the next 21 years. During 4th Sept 2020, Cypark has issued New RM97.25 million Sukuk ( upto RM500 million )

Generally, Sukuk has a tenure of up to 22 years commencing from the date of the first issuance. On top of that, Sukuk has a fixed profit payments which allows Cypark to determine it at a lower profit rate and enjoy the profit payment savings in the event of an increase in profit rate in the future. As long as Cypark is able to secure more projects in the coming future, logically the recurring income from selling energy to TNB for the next 21 years will also increase.

In the current scenario, it is expected to have more cash outflow than cash inflow due to the Company’s capital investment in the projects and the cash inflow can only be noticed clearly upon the commencement of the commercial operation date (“COD”) of the projects. The Company is expecting a significant amount of revenue and cash inflow to be generated in FY2021 from the completion of LSS 1 & 2 and WTE Plant.

However, Cypark is also expecting a significant cash outflow in year 2021 and 2022 due to capital investment of LSS 4 project and LSS 5 project.



7) Debt Collection (trade receivables)

Cypark has significant amount of trade receivables that is past due for more than 90 days. In AGM2020, Cypark mentioned the outstanding amount is mainly due by Gov agencies. The changes of Gov had impacted longer time in the processing of Cypark’s outstanding trade receivables and this is common whenever changes of administration happen.



DISCLAIMER:
All the information mentioned herein is solely for the purpose of education and references only.

REFERENCE:
- Cypark Annual Report 2020, 2019 , 2018, 2017
- Cypark latest Quarterly Report
- Cypark AGM 2020
- TNB Annual Report 2019
- http://ir.chartnexus.com/cypark/docs/agms/Summary%20of%20Key%20Matters%20Discussed%20at%20the%20Postponed%2015th%20AGM%20held%20on%2018%20June%202020.pdf
- https://www.nst.com.my/news/nation/2019/09/518408/malaysia-needs-rm33bil-investment-hit-renewable-energy-target
- https://www.st.gov.my/contents/2020/Copy%20of%20LSS%20Progress%20By%20Region%20(Q1).pdf
- https://www.power-technology.com/comment/malaysia-needs-us8-billion-investment-to-achieve-20-renewable-energy-target-by-2025/
- https://www.theedgemarkets.com/article/govt-targets-six-wastetoenergy-plants-2021
- https://www.theedgemarkets.com/article/better-earnings-visibility-prospects-cypark
- https://www.theedgemarkets.com/article/cypark-sees-doubledigit-revenue-growth
- https://www.theedgemarkets.com/article/tnb-awards-three-lss3-projects-total-capacity-29088-mwac
- https://www.theedgemarkets.com/article/cypark-reorganises-loans-address-debtcash-flow-mismatch
Show more
Jackson
跌傻了吗?哈哈hold住,1.6买的都要hold住,加买特买!有一天就知道,这是正确的选择!哈哈大炮不要信!
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Goeh Kar Win
现在不知道哪里是低 最好不要现在去接刀
Like · 1 day · translate
曾科純
这里留言太热闹关系吗?每天都能跌一点
Like · 1 day · translate
Tempura Fish
又摔了....噢噢。阿拉玛
Like · 1 day · translate
Star Lucky
哈哈 哇 从1.6+连续跌几个月,cypark boleh!!哈哈 买在1.5+以上的不懂是不是都跑了。看过去还会继续跌。哪里来的人那么多票卖不停。哈哈
1 Like · 1 day · translate
Nick Soo
上很慢,掉很快。。。。
Like · 1 day · translate
Fork
这样跌我都不敢接了。。。我在想是不是公司的高层ESOS 然后一直每一天卖一点。。公司的top Management有够烂!! 它们的WTE n LSS2 最好不要出现问题
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DC TY
按照管理层的作风 通常会告诉你fmco再delay 半年
Like · 1 day · translate
Fork
ohnoooo hahaha WTE testing how ar? got any updates from your friend?
Like · 1 day · translate
Bruce Lee
静静的观察,主要还是要看这次季报有没有提起了。如果这次季报的收款有减少而lss2和wte完成了我才会考虑在低多一点的价位买入(保守估计80左右或以下),不然我就会慢慢的卖出了。
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DC TY
the worst thing is no news so you know loh, everything is ready just wait for japan technician
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Star Lucky
Dc 你在cypark工作的吗?
Like · 1 day · translate
Bruce Lee
通常不是no news is good news吗?哈哈。。。。今天700多股跌哦!我看还是马股悲观情绪影响股市啊!未必完全是个股问题,昨天也是外资和机构大抛售,散户接了147millions。恐怖哦!
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爱丽丝
接着再这样下去完蛋尿。。。。。。。
Like · 1 day · translate
Tui Ho Wang
哈哈 连Ah fork兄dei也开始pek chek了
至少要留守到年尾吧
最近有看到fb那里有个广牌公司在marketing他们的生意时的照片是用cypark wte的广告牌as他们的promotion照片 哈哈
2 Like · 1 day · translate
刘敬宝
投资还是要放长远来看吧
有危才有机
我的看法公司虽然没能得到lss4的合约
但是多多少少会得到epcc的工程
然后就是公司目前的表现实在是差强人意
所以市场悲观还是合理的
我们还能守在这边的,都是等待明年公司的转变
公司现金流最有可能在明年转正
而且lss4这么竞争苛刻的工程没得到,也可以让公司暂时喘气收钱
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Star Lucky
没有lss4 更好,把 lss2-3 wte 搞好都够吃了,这些工程都要先自己出钱,本身开支那么大了,再来lss4,等下又要借钱搞pp什么的了。哈哈
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刘敬宝
是啊,lss4的价格。。。
太低了吧,现在主要原料还涨价
成本更高了。
1 Like · 1 day · translate
Star Lucky
明年把lss 2 和wte 盈利带进来,把现金流转正,然后再继续未来标lss5 wte之类的,这样更好 哈哈
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Tui Ho Wang
接下来还有batu pahat和melaka那里的wte合约竞标成绩未知
如果得到绝对是好消息
到时又是需要融资去建设一到两座废料发电厂
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Bruce Lee
我觉得再多的projects也不如袋袋平安了,尤其现在市场情绪低迷。拿回钱所有散户会对公司更有信心,之前也拿到了一些project也没有反应在股价就是因为前景很美但是短期风险太高了。
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sakwen Lim
太阳能本来就是很难赚钱的。储存能量技术还是没到点。一块板只能供电一个点的量,而且太阳能板能耐多久。。。。这些都是国家才能负担的项目,水很深。
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sakwen Lim
坐等它更便宜一些,但现在它需要资金发展,价钱也无法便宜吧,不然它筹不到足够的资金
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Bruce Lee
我看了今天的涨跌幅,发现跌的比率与跌的数目都比涨的股票来的多。政治问题永远都是第一影响力,尤其现在市场上流传会延长mco更直接造成所有股票大跌,真的是一群扶不起的阿斗。
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sakwen Lim
别提政府,心酸。。。。
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YS Tan
股市是经济最后一根稻草
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YS Tan
900只股跌了,千股跌不是梦
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Bruce Lee
这次很明显是大盘不好,我看到很多股都大跌。看来都对这几天的疫情感到悲观
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Nick Soo
没有最低只有跟低。。。
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YS Tan
我的target list 全部红红
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Bruce Lee
对啊!今天大多数都是跌的,而且跌不少。观察局势中。
1 Like · 1 day · translate
Wei Loon Chan
没有收在最低哦,明天有机会!加油
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YinG
太阳能板的价钱起着喔 会不会减少cypark本来预期接下来的project的盈利表现勒?
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Fork
自从covid, solar panel 成本已经起了蛮多的。 在PP report 里面也提到,The procurement of major equipment (LSS3) has also been “concluded” 。应该都是在covid时买的。 所以我相信LSS3的成本应该会比之前预算的还要高。毕竟LSS3的submission date @ Aug2019 (before covid). 可是重点还是那个21年的PPA啦,只要它顺利完成然后开始买电给TNB就huart了. BUT LSS2 就应该没有这个问题。之前bid到LSS4 的公司应该就头痛了.
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2 Like · 23 hours · translate
Bruce Lee
其实现阶段我是还没有很担心的啦!股市总有起伏的嘛!我买的是公司的价值,而如果工程进度,盈利能力,和收账不能够跟上我就会卖了。所以还是要看这次的报表是个什么情况了。
Like · 23 hours · translate
Fork
真的真的不能让我们失望啊。。。买的就是它的很多很多的未来的PPA
1 Like · 23 hours · translate
Bruce Lee
哈哈。。。。理智点,不好就卖找其他地方赚回来,好就别怕继续持有或增持。投资股票不应该有太多的情绪,加油
2 Like · 23 hours · translate
Eric Choy
现在的价位值博率蛮高的,看两个QR
Like · 23 hours · translate
Fork
我本来Rm1 要average down, 哪知道突然PP news, 肯定影响情绪, 只好在等等lur ..看看它可以跌到多深,然后才买。还是那一句,只要project 有progress, 就不用怕各位!!
3 Like · 23 hours · translate
Bruce Lee
其实我在等8毛或7毛,这是我的心理价位。前提是基本面没有受损,技术面影响的是短期我基本不去看。
1 Like · 23 hours · translate
Jackson
天啊!为什么会这样啊!

Rm0.90开始投资cypark近一年了,还剩几毛钱就要回到Rm0.90了。经过过去又卖又买,又买又卖。结果cypark数量剩一半罢了!平均卖出价格是Rm1.40,剩下的持仓成本也就降低至Rm0.39了。

看了你们的言论,搞到我不敢买回咧!哈哈
我个人是认为回到0.9是很便宜了啦……但是我在买手套股,手套股被套了。所以个人会考虑一路继续加仓手套股啦!阿哟哦!
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Like · 22 hours · translate
Jackson
真的不该把小强赶走。它在这里估计cypark还不会掉下来。哈哈
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Star Lucky
jackson我是你follower其中一个,一直认为你很厉害买股票,没想到你也会被套,没有笑你的意思,希望你手套股可以起回咯,其实我在看着harta,感觉跌很多了,有点想入场买一点。哈哈
1 Like · 22 hours · translate
爱丽丝
cypark很多大师推荐。。。
Like · 22 hours · translate
Star Lucky
公司本身真的前景好,管理层让人不省心罢了。哈哈 等下跌很多时候,会不会又来个esos奖励自己 哈哈哈!
1 Like · 22 hours · translate
Bruce Lee
jackson, nano最近很火,我都赚了25%了。
Like · 22 hours · translate
刘敬宝
会不会有可能最近就是要批新的esos了,拉低平均价
Like · 22 hours · translate
Bruce Lee
这次pp后,cypark会手握很多现金吧!4月份的sukuk拿了8millions,这次的pp预计最少也有100million。如果工程进展好收款好盈利能力好,我是感觉挺稳的。
1 Like · 22 hours · translate
Star Lucky
cypark管理层等下表示,手握那么多钱,来个esos庆祝一下奖励下自己那么棒,哈哈哈哈!开玩笑
2 Like · 22 hours · translate
Star Lucky
可以说人话吗 听不懂你说什么。
Like · 21 hours · translate
Bruce Lee
哈哈。。。。我也是看不懂,star你不说我也要问了,这个是说密码还是密文啊?
Like · 21 hours · translate
Star Lucky
之前agm说有做dividend reinvest plan, 为何到今天都没有进度消息了,是不是没有了?
Like · 21 hours · translate
Lee John
现在这情况还敢做DRP
Like · 21 hours · translate
Andy Choo
Star还没有宣布dividend何来DRP?看看公司好像很多工程受到mco影响,短期内应该没有吧
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Star Lucky
哈哈 之前好像report那边有通过投票哦。只是之后就没消息了。我也不是很了解有没有 所以问问。
Like · 21 hours · translate
Bruce Lee
其实我知道一些你说的啦!但那些洋葱我就不清楚了。NCAVPS嘛!net current asset value per share嘛!我是有看啦!但我不完全照着这个指标啦!人家graham都说了这指标是保守但不保证大回报的。这些指标我都灵活用,哈哈。。。。
Like · 20 hours · translate
Bruce Lee
star,之前的agm只是授权但不是做DRP哦!要不要做几时做还是老板做决定的。
1 Like · 20 hours · translate
Bruce Lee
合乎,做人要低调,别表现的太高深。哈哈。。。。快入世吧!别住高山了。
Like · 20 hours · translate
Bruce Lee
你看我买股票很小心的,我很怕死。哈哈。。。。保本比较重要
1 Like · 20 hours · translate
Bruce Lee
在这里再跟你说一个秘密,我还有看par value的。哈哈。。。。
2 Like · 20 hours · translate
Jackson
哇,一下聊这么多了!哈哈

Bruce 是你的nano买到很低咯……所以就涨25%咯!如果我的nio是买在31,现在也有40%啦!我平均来也是要37块多。20%因该有吧!

star lucky 没有厉害不厉害啦……我也是再一起交流学习的。我相信手套股有它的价值啦……是投资者想很远了,距离跌的绝望不远了!个人想法罢了!被套我还能接受啦!
至少harta,我是套在9.50,不是套在20块啦!哈哈
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2 Like · 20 hours · translate
Zack Gan
每个晚上看这里的大大给点心灵鸡汤,对公司更有信心啊,
就等业绩看现金流了
1 Like · 18 hours · translate
飞鸿腾达
好,很好,非常好,现金流开始流失老板口袋又满满了!
Like · 8 hours · translate
Travel Videos
good rebound
Like · 6 hours · translate
Bruce Lee
看了sb那边的混乱局面,再看回这里,觉得这里的股友真的是投资人居多啊!而且都很佛系。一个字 稳
3 Like · 6 hours · translate
Tempura Fish
SB 那边很多都是吹水而已。
Like · 6 hours · translate
Bruce Lee
还是有很多投机者和一部分新手投资者的,至于那些吵架和吹水的就看戏就好。话说jackson也有加入战局哦!哈哈。。。。
Like · 6 hours · translate
YS Tan
那边很热闹呵呵
我是看不过眼一些人一直叫人“赌博”
1 Like · 6 hours · translate
YS Tan
今天上升和下跌股,现在差不多打成平手了,下午应该会被超越
Like · 6 hours · translate
Bruce Lee
美国通过大型基建计划的好消息被政治因素抵消了,不然今天应该是大起才对。
1 Like · 6 hours · translate
Tempura Fish
没办法吧,自己把头淋湿了。现在割肉又很痛,所以叫大伙陪着一起死。
Like · 6 hours · translate
Zack Gan
这里起了,queue也很大,希望业绩真的不错吧,
可惜了,没钱捞低
Like · 6 hours · translate
Jackson
是啊,进赌场转一转。0.795抄一波,0.55抄一波。估计0.30再开一局!哈哈
1 Like · 6 hours · translate
Bruce Lee
mco管到最严那段时间的revenue有55million,profit有16million。现在的mco没有受太大影响,所以大概预计只会更高点吧!
Like · 6 hours · translate
Star Lucky
不要起 不要起,我等0.85+买
1 Like · 6 hours · translate
Jackson
投资股票而已……也不需要趁SB股价负面下跌时就一窝蜂落井下石吧!
1 Like · 6 hours · translate
Bruce Lee
不要落井下石也不要带歪了新手投资人哦!我在脸书看到很多新手在问要怎么办要怎么做,我想这些人才是最惨的。
Like · 6 hours · translate
刘敬宝
但是现在都疯传sb会因为无法如期出年报被停牌哦
Like · 6 hours · translate
刘敬宝
当然,舆论被反转的时候就有大戏了哈哈
Like · 6 hours · translate
Bruce Lee
虽然是大概率但是事情还没真正发生所以静待事情的发展吧!
Like · 6 hours · translate
Jackson
在cypark这里近一年的股东。应该也记得之前某某人也是说他死都不投资cypark……就因为应收账款之类问题。那时我也懒得理!
之后我也到SB那好心提出,它也有应收账款和库存持续增加的假账风险。肯定也被人吐槽啦!

我可以在股价1.60以上提出风险,听不听是他们的事,我想写就写。但是此时我就不会再吐槽了。何必又在伤口撒盐呢!学到了就不吃亏了。多说也无益啊!
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1 Like · 6 hours · translate
刘敬宝
是啊,投资的本质就是,当公司有本质上的变化的时候就该重新审视了,而不是一味的盲从
不能用赌博的心态去博不确定性
Like · 6 hours · translate
Bruce Lee
对啊!你说一句话随时被全部人带上,到时候又来一场风波了。我会说也是在一些基本流程上有人带歪我才会说话的。

里面很多故意误导的阴谋家,赌徒,不懂装懂,冷嘲热讽,落井下石的各种负面群体。所以少点说话比较好。
2 Like · 5 hours · translate
Zenos
其实 sb会不会是遭遇类似muddywater research的沽空机构?
Like · 5 hours · translate
YS Tan
老手烧到手,顶多休息一下,当作身经百战,
新手烧到手,做傻事的几率比较高
Like · 5 hours · translate
Star Lucky
cypark股友好啦,大家都会互相分享信息,都比较有根据性的给出言论,不像有的股只会那边说LU 或LD,讲的话都没几句能信的。
Like · 4 hours · translate
Jackson
股市天天都能上演的戏码啦!不要太在意。
一大堆新手买手套cw,输到一分钱都没有的。不是都要跳楼了。
如何要做救世主,又能救得了多少个?
我没有这么神圣伟大。
如果当下跟他们说了,反而会被吐槽哦!
还可能被说成,阻碍人家获利发达能!

要知道股市,外汇,加密货币,期货期权等。都可以说是负和游戏,有人获利就有人亏损。

我在cypark获利,当然目前来看肯定也有人亏损。之前Rm0.9把票卖给我的人,可以是0.605买的获利卖出,也有可能是1.20买入亏损卖出。所以最终还是需要投资者本身决定的!至于随随便便ALL in的,就要自己承担风险和成果咯!

我又没有收学费,又如何有本事打救世人。在这里偶尔吹水,主要是客观交流分享就可以了。
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2 Like · 3 hours · translate
YS Tan
马股现在是青的,好像只有部分股是被撑着,好让指数青青,。
请问大家是去哪里,或者如何知道目前马股那些是被撑着的?,是要比较第一手的咨询
2 Like · 3 hours · translate
Wei Loon Chan
@ys 30个蓝筹股 你去google找 KLSE 指数包含什么公司 第一个yahoo的link点进去就是了
Like · 2 hours · translate
Bruce Lee
mco继续延长,继续呆家里炒股
Like · 2 hours · translate
YS Tan
原来investing的app里面都有了,我现在才发现
Like · 2 hours · translate
Jackson
mco延长宣布了吗?延长也是正常啦!
Like · 2 hours · translate
Geouis Wei
这个月会出业绩吗? 都月未了
Like · 2 hours · translate
Star Lucky
今天或下周就会出了咯。月底出
Like · 2 hours · translate
Bruce Lee
jackson,没有啦!只是预测罢了。
Like · 2 hours · translate
Andy Choo
Cypark都是最后1-2天出qr的。
Like · 2 hours · translate
Geouis Wei
看到SB那边LD 吓死人了 这里不好给我紧张
Like · 2 hours · translate
Wei Loon Chan
@Geouis wei 其他族管理的公司好像都是last minute出业绩的勒 哈哈
Like · 1 hour · translate
Geouis Wei
是赚是亏 有出就好 …
Like · 1 hour · translate
YS Tan
我清仓了,等等看有没有什么机会玩fifo
Like · 1 hour · translate