Fork's comment on CYPARK. All Comments

Fork
81 Like · Reply
Update: 17/Nov/2020

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: 31 Dec 2020
- Daud (CEO) estimated RM10 million annually
- This will contribute to FYE 2021

LSS2 - 3 x 30 MWac = 90 MWac
- targeted Commercial Operation Date: 31 Dec 2020
- Daud (CEO) estimated RM25 million annually
- This will contribute to FYE 2021

WTE - 20 to 25 MWac
- Due to MCO, Cypark has yet to announce the completion date
- Daud (CEO) estimated RM80 million annually
- This will contribute to FYE 2021

LSS3 - 100 MWac
- TNB has inked three LSS3 Power Purchase Agreements.
- Daud (CEO) estimated RM50-60 million annually
- This will contribute to 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)



4) Forecast Revenue

Cypark targets to achieve 500 MWdc by FY2022. 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 16%.

Cypark's revenue comes from four segments as follow:
* Data from Cypark AR2019 *
- RM262 | 73% - Environmental engineering
- RM34 | 9.4% - Landscaping and infrastructure
- RM5 | 1.3% - Maintenance works
- RM59 | 16.3% - Green Tech and RE

Cypark "Green tech and RE" revenue (MYR)
- FY2014 - 34,954,629
- FY2015 - 39,665,233
- FY2016 - 46,544,314
- FY2017 - 48,713,260
- FY2018 - 48,784,125
- FY2019 - 59,020,364
- FY2020 - 65,856,536

Cypark future recurring revenue (Estimation), factoring in their On-Going Projects once completed (Revenue in MYR)
- FY2021 - 161 millions +
59+(10/12*8)+(75/12*8)+(80/12*8) + NEM
- FY2022 - 265 millions +
59+10+75+80+(50/12*10) + NEM

Cypark expects to complete all three projects (LSS 1 & 2 and WTE) by the targeted COD 31 December 2020. For FYE2021, i have multiply by 8 months instead of 10 months (Financial ends at Oct) to have a more conservative forecast.

From their latest QR, Cypark owns approximately 47 MWdc of solar plants In 2020. This capacity is expected to increase to approximately 200 MWdc by early 2021. With only 47 MWdc, the sales of energy already contributing about 65 millions revenue annually. 200 MWdc definitely will contribute positively to Cypark revenue.



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 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
大白鲨
股市有上有下打横跑才爽的,要不然没有吃鸡感
Like · 2 days · translate
Jessie Chew
再生能源是未来趋势。。新股东们不等钱用就拿来放中长期吧。。。一天涨一点。。站稳一点比较好。。 留下来的就是长期股东咯。。 恭喜恭喜
2 Like · 2 days · translate
Choonjye Lim
jessie, 赞?希望接下来现金流好点。
Like · 2 days · translate
Jessie Chew
一定会的。。时间的问题。。马来西亚目前就这几家做关于再生能源。。潜能很大。。我们看远一点
3 Like · 2 days · translate
Choonjye Lim
jessie, thank for sharing
2 Like · 2 days · translate
Fong Jun Jie
都1.0陪到他0.7x再陪到他现在这个样子了.. 没关系啦~ 只是希望重现11月尾的pattern就好了
Like · 2 days · translate
Bruce Lee
如果最后来个大涨,然后做出个大绿蜡烛,那今天的图就完美了
1 Like · 2 days · translate
YinG
基本上 没可能。。。。以今天的volume来看 剩最后一个小时 不可能拉的完上去
Like · 2 days · translate
nicole ong
一场欢喜一场空.........
Like · 2 days · translate
Fong Jun Jie
不用拉完上去,但求站稳1.40就好,把我的W弄好来~~~
1 Like · 2 days · translate
Ling Ling
+1 haha, 站稳 1.4 就好
Like · 2 days · translate
Jessie Chew
对对。。站稳1.40。。比较喜欢一天涨一点。。姐老了不喜欢吃鸡。。哈哈
Like · 2 days · translate
Bruce Lee
其实基本不用太担心,同样情况也发生在samaiden和solarvest
1 Like · 2 days · translate
Fong Jun Jie
站不稳的话麻烦你们去扶一下 哈哈哈哈
Like · 2 days · translate
Lee
这家公司在接下来的一年会注资建造太阳能发电场,现金流在接下来三个季度相信还会是负数。

但是LSS2的Solar Farm应该也在运行了。而且1到3月是马来西亚太阳充足的时间段,希望LSS2的电能销售能美化公司现金流一些些。

最后祝CYPARK 接下来LSS4得标,然后大多数SolarFarm运行的时候,这只股每年打底都会有40到50million的稳定Revenue。再加上其他业务,业绩应该会创新高。
Show more
5 Like · 2 days · translate
ewe aik Chuah
又一个替人家宣传,
叫人家去镇土 。。。。。。。。
Like · 2 days · translate
ewe aik Chuah
股票界没人敢说下跌,只有我。。。。
Like · 2 days · translate
Fong Jun Jie
一样的眼睛有不一样的看法
一样的耳朵有不一样的听法
一样的嘴巴有不一样的说法
一样是人却有不一样的想法
总会有人说你好 也会有人说你不好
不必执着他人对你的批评就好~ <3
Show more
4 Like · 2 days · translate
Hanson
他和蟑螂都是一伙的嘛……
故意在这里吓人自乱阵脚
吓到人家卖票他就捞底了
这种人就是人渣!
1 Like · 2 days · translate
Star Lucky
你看如果股价跌一点点的話,等下蟑螂就要出來了,起的时候就躲起來 哈哈
2 Like · 2 days · translate
大白鲨
limit up 一点都不出奇,能每个星期 limit up 的股多得是
1 Like · 2 days · translate
Hanson
他还放个和尚的照片呢!
看来他会继续在这里念经
七七四十九天呐!
1 Like · 2 days · translate
大白鲨
和尚?哈哈哈哈哈哈哈,他比任何大神有本钱你不知道咯!哈哈哈哈哈哈哈哈
Like · 2 days · translate
大白鲨
有听过左手握着钻石右手握着现金的和尚吗?哈哈哈哈哈哈哈哈哈哈
Like · 2 days · translate
ewe aik Chuah
哈哈哈哈哈哈哈哈哈哈哈哈哈 。。。
Like · 2 days · translate
ewe aik Chuah
TBC,TBC,TBC 。。。。。。。。
Like · 2 days · translate
T
samaiden cypark slvest
出现超长流星线(shooting star)
反向趋势信号
如果明天跌,回调收票咯
Like · 2 days · translate
Jackson
看来错过很多东西了……今天套利的不少哦!
Like · 2 days · translate
Echo echo
1.60卖,1.43,1.40,1.38分批买回,真是太幸运了
2 Like · 2 days · translate
Jackson
今天多少人剩免费票,还是均价又降低了啊?又有新一批股东吗?
Like · 2 days · translate
ewe aik Chuah
不相信,ALL IN ,ALL IN ,ALL IN 。。
Like · 2 days · translate
Jackson
Echo, 神操作哦……后市继续努力!回调又是长期投资者入场机会。哈哈
Like · 2 days · translate
Fong Jun Jie
我是可惜今早工作关系没卖到,只好继续握噜~ 反正什么风雨都试过了 哈哈哈哈
好羡慕echo呀
2 Like · 2 days · translate
Echo echo
新能源是今年的主题和主力,故事才要开始,我会继续捧场,大家一起守一起赚。
2 Like · 2 days · translate
Echo echo
Jackson 一直以来,你很认同你的分析,你好料。
2 Like · 2 days · translate
Jason Yzs
还以为好像科技股那么好料,结果才half day show lol
2 Like · 2 days · translate
Hanson
@大白鲨
他左手握着淋棍就有啦!
右手握住木鱼棍.....
明天股价没有跌
就拿木鱼棍来敲自己淋棍咯!
Show more
Like · 2 days · translate
Ken Law
明天冲1.70哈哈哈!
Like · 2 days · translate
YinG
多6个地区mco。。。。。。
工程可能会被影响
Like · 2 days · translate
Echo echo
全马MCO,除了Sarawak.
Like · 2 days · translate
陈强强
回光返照的走势,明天开市一定大跌至1.2
Like · 2 days · translate
Bee Chai
哈哈。。小强,股票这家嘢,你识条铁meh,回去你的吹水站吹水啦!
2 Like · 2 days · translate
Calvin
蟑螂来了,我看到你的样都想吐。你每次讲的东西都不准哈哈。不用返照啦,照下你自己的样子啦哈哈哈
1 Like · 2 days · translate
T
原来全马MCO,除了Sarawak
roller coaster 上了高点掉下来 =.="
Like · 2 days · translate
T
小强看一只,report一只 :)
Like · 2 days · translate
Peter Tham
午盘市场负情绪+无止境套利,收青是不错了。更何况,图的身材更加美。没事,还有明天
Like · 2 days · translate
Ken Law
MCO明天手套股有看头。
Like · 2 days · translate
Jackson
回光返照,都可以被它和它的团队想出来。哈哈
2 Like · 2 days · translate
Jackson
我个人觉得,虽然Cypark昨天的走势有如过山车。但是也让我们看到它是能冲很高的哦!掉回来反而是之前来不急上车,再一次买票上车的机会。嘻嘻
3 Like · 2 days · translate
Jackson
目前价位,刚入场的。我还是建议量力而为。就算后市还会回调15-20%,你至少也还有资金再买入。分批买入也只能做两次哦!(条件是你对你所买的股很有信心唷!)

短期交易者,就问它小强吧!它或许会给你更好的建议唷!
2 Like · 2 days · translate
Nick Soo
小强,那里来的1.2? 我在等呢。 难道你每天说 1.2 然后等到那天1.2 ,你才来说。 你们看.
Like · 1 day · translate
政霖吴
哈哈哈 他可能写错了,他讲的是2.1吧
4 Like · 1 day · translate
Jyn Joo
蟑螂和尚 都是吓唬的 笑死
1 Like · 1 day · translate
Bruce Lee
脸书到处都有人在找他,甚至还有人写了故事。真的是红了
Like · 1 day · translate
Calvin
我看到蟑螂一次就report它一次,看它可以跑去哪里酸人。
Like · 1 day · translate
tan paul
我倒希望他过去tenaga大胆预测,让我更加有信心补仓
Like · 1 day · translate
Jackson
阿哟,tenaga也出来了哦!我才买10块,就住套房了哦!哈哈
Like · 1 day · translate
Jackson
tenaga跌很慢咧!希望小强可以过去沽空它!9块钱啊!
Like · 1 day · translate
Star Lucky
tenaga稳賺公司,10块应该也不算贵吧 哈哈
Like · 1 day · translate
Jackson
这里跟股价一样消沉了啊?哈哈
1 Like · 1 day · translate
Nick Soo
小强出来喊1.2 . ha ha
Like · 1 day · translate
Choonjye Lim
小强花生变和尚了。。。
Like · 1 day · translate
Echo echo
小强可能是个大妈。。。配个老和尚,一唱一和,夫唱妇随。
Like · 1 day · translate
kim wah
小强+和尚 是来娱乐大众 搞搞气氛,顺便给你们骂骂出气,何乐而不为。不要那么认真。。
cypark 加油。1.8 不是梦。
1 Like · 1 day · translate
政霖吴
我大胆预测小强会出来喊1.2 哈哈哈
Like · 1 day · translate
YinG
Shooting star+ inverted hammer...
Like · 1 day · translate
Hanson
别管它是什么shooting
只要大家守住不要卖票
什么inverted hammer
技术论都不攻自破......

技术图都是被制造出来的
加上庄家故意卖压造成的
很多股价都被技术图操控
让你看到怕就自然卖票了
你卖了多少都被他们记录
因为他们会在后面算票的
所以得意的始终会是庄家
Show more
5 Like · 23 hours · translate
YinG
原来是反技术的啊~。。。
不好意思啊 市场那么大 这里没那么大的power让所有人都不丢
既然你也知道股价由庄操控
哪要涨也要看庄啊
Like · 23 hours · translate
大白鲨
哈哈哈哈哈哈哈哈哈哈哈哈哈哈
Like · 23 hours · translate
政霖吴
近期应该还会跌吧,看技术面的话,不过只要守住在1.28-1.3的话反弹只是时间的问题吧
Like · 23 hours · translate
YinG
@政 yaya..... 在support附近买回也可以啊
Like · 23 hours · translate
Haw Lin Yeng
今天我狠狠的砍了。。。
Like · 19 hours · translate
Echo echo
换换股东也好,淘汰些人也是好事
Like · 19 hours · translate
大白鲨
实战时看个屁技术图,庄家爽爽出几只大锤子个个冲进去被套就有
Like · 19 hours · translate
Echo echo
所以说,图是可以看,当是参考就好,但是尽信图不如无图。股市就是股下股下才是股市。
Like · 19 hours · translate
Echo echo
跟图就赚钱发达,这世界没窮人啦!
Like · 19 hours · translate
政霖吴
我看图只是知道几时补票罢了,不想错过 哈哈哈,至于hammer shooting star什么的看看就好,我只看support和resistence罢了
2 Like · 18 hours · translate
政霖吴
不过cypark这个股票,一年后肯定不止这个价钱,最少1.8以上,我很看好它的long term
2 Like · 18 hours · translate
Ken Law
套利一点钢铁股。拿点现金,等cypark再加码。吃鱼翅,吃鲍鱼就看cypark了!哈哈!
2 Like · 18 hours · translate
Echo echo
这股,有钱就补,到他真正反应其价值时,肯定是2字头。
4 Like · 18 hours · translate
Ken Law
Cypark真正价值是2元20分。21年现金流。LSS4一部分再拿到手,可以上3元了。哈哈哈!
3 Like · 18 hours · translate
政霖吴
哈哈哈 这股到时候应该不止2字头,等太阳能的收入改善cash flow过后,应该就会回复派利息,到时候fund epf全部进来推,到时候搞不好都能rm5,时间的问题罢了
3 Like · 18 hours · translate
政霖吴
这几天震仓也好,逼走一些不够耐心和毅力的股东,换来一批更有耐心的股东,到时比较容易飞
1 Like · 17 hours · translate
Jackson
我每天都梦到5块了……偶尔还看到7块。哈哈
1 Like · 17 hours · translate
Jackson
我预期5年走势!
1.8到3.5,回调2.50再到5.00。

这样大家满意吗?哈哈哈哈
2 Like · 17 hours · translate
Bruce Lee
5块!!!有3块我就很满意了。哈哈。。。
Like · 17 hours · translate
weng onn Leong
站好在1.5已经很好。
Like · 17 hours · translate
Choonjye Lim
站好1.8, 加派利息每年就好了
2 Like · 17 hours · translate
Peter Tham
我看是时候可以加码了。。。
1 Like · 15 hours · translate
Ranger
不好意思。我心急1.32加码了
1 Like · 14 hours · translate
刘敬宝
团结一些我们1.29才加码啦,哈哈哈
1 Like · 14 hours · translate
Jackson
上一次1.17,看来这一次就加在1.27了吧!哈哈
Like · 3 hours · translate
DC TY
我还在等0.70。。。。。。
1 Like · 3 hours · translate
Jackson
Dc继续等咯,股市里什么都有可能。可能那一天有大咖要排1.70大量,你小心打到0.70。直接跳水,你的0.7就做到了咯!哈哈
Like · 3 hours · translate
Jackson
1.27还要等,它要去1.37先。哈哈
Like · 2 hours · translate
刘敬宝
今天不跌了吗。。。可惜
Like · 2 hours · translate
Ken Law
资金有了,又不跌。哈哈。
Like · 2 hours · translate
lit Li
为什么那么多人丢票的哈哈哈,我真的不明白,这公司未来真的不错啊
Like · 2 hours · translate
政霖吴
很多人希望投资后几天就上几十percent,想要一夜爆富,所以看到一点点不对就丢票了 哈哈哈
Like · 2 hours · translate
Jackson
丢了的,跟我一起去买手套股吧!昨天买更好,今天买也不迟。哈哈
Like · 2 hours · translate