Fork's comment on CYPARK. All Comments

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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
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Jackson
希望wte有更多好消息啦!我们也看看接下去还有哪家公司会拿到wte的工程咯!
2 Like · 3 weeks · translate
Ym Goh
当无人问津的时候,就是买入的时机了 嘿嘿
1 Like · 3 weeks · translate
Bruce Lee
我现在专注在美股了,cypark就放着等消息。哈哈。。。
Like · 3 weeks · translate
Tui Ho Wang
哈哈 cypark这次的wte合约竞标的气势就是势在必得
连续宣布和两州政府合作愉快
2 Like · 3 weeks · translate
Jackson
Bruce, 我也是开始看美股不久。
马股就只剩Cypark OCK和手套股吧了。

美股主要是Nio,和前天刚买了一个Spac GIK。你为什么选择进入美股。我是为了电动车而开户投资美股的。不然我也不会踏入美国吧!哈哈

这个就好像要买某加密货币,就到有上市那个币的交易所开户一样。结果一个人就几个交易户口了。哈哈
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2 Like · 3 weeks · translate
Jackson
Wang,是的cypark还是国内唯一有经验wte的公司。这就是它的优势了!
2 Like · 3 weeks · translate
Bruce Lee
jackson, 其实我看着很多股票很久了,之前也只买了个applied materials。EV我选择的是理想。我觉得理想的潜力很大,财务报表情况和销售额也不输其他同行。昨天也趁低抄底了intel。也买了nokia打算长期持有,毕竟现在欧美的5G&6G领导者是Nokia。还有一些股票大多数都是才进场没多久。昨天原本还要买sunpower因为今天的气候会议的,然后追不上一口气飙上去了。
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2 Like · 3 weeks · translate
Bruce Lee
我觉得星期一所有的再生能源关联股都会因为各国做出的决定而飙升吧!
2 Like · 3 weeks · translate
Jackson
intel才发布业绩,不是很理想所以下跌吧?也因为apple用自己M1芯片,越来越多要自主芯片。所以影响了intel。目前芯片荒,intel也有开始投入做生产业务了!生产高端芯片都被台积电和三星拿了。

理想好像只有一台hybrid车。所以财报表现上是比较健康的。nio和小鹏都还在烧钱亏损。理想还没有纯电动车,所以我就没有考虑了。Tesla也行吧,但我没有多研究。我主要是看好中国电动车市场。所以就选了Nio。
GIK 特别用途公司要合并lightning emotors,那天掉下来就在7.75买了一些。主要也是电动van bus和卡车,较大型的交通工具。
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2 Like · 3 weeks · translate
Jackson
投资美股的投资者,很多都会关注Ark invest。木头姐已经是新一代股神了!
2 Like · 3 weeks · translate
Bruce Lee
我对于女股神是不置可否的,每个时代的股市高峰都会出现很多股神,但是到现在真正还坚挺的只有巴菲特了。当然有免费借鉴的资料还是会看一下的。哈哈。。。。
2 Like · 3 weeks · translate
Bruce Lee
其实我研究中国电动车也有5年了,其实中国电动车领域普遍存在过度依赖政府津贴与采购的问题。至于为什么我选理想是因为之前我说的过度依赖政府津贴与采购的问题,蔚来比较其他制造商(日产美产欧产电动车)有很多优势,但就我个人觉得在这些优势下报表还是不好就说不过去了。而理想的策略我很欣赏因为他们没有要一步就登天的想法,而是根据中国的国情发展产品,中国人口多但还是中产和以下人口为多数,而中国内陆现阶段还是有很多地方是没有充电桩的(据我所知很多做充电桩的公司都倒闭了),所以我是赞成理想现阶段的半自动车子而最近的销售量也证明了这点。而蔚来和小鹏就有点尴尬了,因为他们之上还有个比亚迪和特斯拉。当然这只是我自己的研究和想法啦!
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3 Like · 3 weeks · translate
Bruce Lee
我个人是挺看好intel的,当然长期而言。这次的盈利其实超出全部分析员的预期,这次遭遇抛售也是因为data center的盈利跌了20%,还有对未来晶片市场的普遍不看好。但是intel的前任cto回来担任ceo并有一系列的扩张行动,我是挺看好未来的前景啦!而且现在很多分析师又转换说intel的股价是undervalue,并很看好未来的前景。我还是根据我个人的了解来买入的啦!
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2 Like · 3 weeks · translate
Bruce Lee
jackson, spac的公司你要小心点。前不久的spac公司都是遭遇了抛售潮,基本跌到低谷了。我原本留意altimeter growth的grab spac。但是看到很多人都在说这点,所以多留意了一下。总之美股的水很深。
2 Like · 3 weeks · translate
Jackson
确实Spac不容易玩。Grab的我就没有什么兴趣。Lucid Air的到有关注,还在烧钱。所以也不敢碰啦!
2 Like · 3 weeks · translate
Jackson
也没有这么多资金,所以买了也就放在了。不确定因素还是很多的,一切也还是需要时间去验证它们。
3 Like · 3 weeks · translate
刘敬宝
黄金交叉?哈哈哈哈哈
Like · 2 weeks · translate
Jackson
这轮要冲两块了啦!哈哈
5 Like · 2 weeks · translate
Ling Ling
go go cypark~!
Like · 2 weeks · translate
Star Lucky
怎么忽然就青了,都还没排到票呢。
Like · 2 weeks · translate
Ling Ling
Samaiden slvest kpower cypark全部都起,不错
Like · 2 weeks · translate
刘敬宝
看能收1.35吗
然后明天开1.37就美了
Like · 2 weeks · translate
Trigger Lim
抛开基本面来看

macd有黄金交叉了
rsi也有明显提升 43去 53
虽然股价还是低于ma60
也没很多量

不懂明天有没有戏呢
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1 Like · 2 weeks · translate
Lee John
expected cypark will pay out 3 sen dividend this coming august
1 Like · 2 weeks · translate
王婧馨
2020没股息了,今年还有股息?
Like · 2 weeks · translate
Star Lucky
青一天,红四天 。。。。
Like · 1 week · translate
Geouis Wei
Proposed Renewal of the Authority to Allot and Issue New Ordinary Shares in Cypark Resources Berhad ("CRB" or "the Company") ("CRB Shares"), for the purpose of the Dividend Reinvestment Scheme of the Company which will provide the shareholders of CRB with the option to elect to reinvest their cash dividend in CRB shares. 上个月开会的项目还没看到有什么动静?
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Like · 1 week · translate
Bruce Lee
去看4月8号的resolution 16
Like · 1 week · translate
Star Lucky
不是通過了吗,可是沒動靜喔。
Like · 1 week · translate
Geouis Wei
对啊 通过了 但没动静差不多整个月了!
Like · 1 week · translate
Goeh Kar Win
这支股啊....非常适合退休人士..年轻人请尽量远离 哈哈哈哈哈哈
1 Like · 1 week · translate
Bruce Lee
通过只是给于权力来执行,老板会根据情况决定几时实行或要不要实行。
1 Like · 1 week · translate
Geouis Wei
谢谢Bruce 的解释
1 Like · 1 week · translate
Star Lucky
但是如果最後不執行,那樣投票的意義在哪裡。哈哈
Like · 1 week · translate
Jackson
不要急,等季业绩报告发布先。
Like · 1 week · translate
Jackson
过往的记录应该是五月份才会公布吗?如果等到六月季报公布了都没有,我们就继续期待明年了。哈哈
2 Like · 1 week · translate
Star Lucky
还真的是個漫長的投資,盈利一直下滑,沒力了。哈哈
Like · 1 week · translate
A. Aa—
Jackson 还是cardano好:)
1 Like · 1 week · translate
Jackson
我是超级后悔太快卖出大部分Cardano了啦!2018年学习投资加密货币,就经历大熊市了咯!
Like · 1 week · translate
Jackson
我只有唯一一个加密货币就是Cardano ADA。其他的也没有研究。当时买也就是玩玩的心态罢了!我从btc 15000usd,ADA 0.7xusd 一路买到Ada 0.03usd。当时亏损80%吧!平均成本ADA 0.14-0.15usd。跌到0.03usd,我也没有想到它能涨到1.50usd。

ADA也还好啦……很多加密货币都大涨啊!ETH,BNB……和狗狗币不是更疯狂咯!

我是已经回收本金,同时也已获得本金而外90%的投资回报。目前只剩下免费币,就让它自由飞翔啦!希望有一天20usd咯!哈哈
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Like · 1 week · translate
Jackson
加密货币投资风险太高了……适度在能力范围内投资还可以啦!我个人不鼓励太激进投资加密货币啦?而且投资了还需要抱着输完的可能啦!嘻嘻
Like · 1 week · translate
Ling Ling
Jackson, 你用什么平台买 ?
Like · 1 week · translate
Jackson
我都是用binance,可以通过它的P2P以马币交易购买usdt或btc。之后在transfer到spot购买其他的币。

我会先买usdt再买btc。因为直接P2P马币买btc一般都是比较贵一些啦!
1 Like · 1 week · translate
Jackson
我建议要投资比较稳,还是10大市值里面的主流币。当中我还是比较看好ADA和DOT。

近期比较疯狂的NFT……我就不建议啦!太投机性质了!完全就好像是在赌一把!
Like · 1 week · translate
Jackson
马股的Cypark,加密货币的ADA和美股的Nio蔚来。我要罢了养老用的,希望能hold得住。哈哈
1 Like · 1 week · translate
Wei Loon Chan
Ada你买了多少?我在2月进了200现在价值6××,后悔当时只是玩玩
Like · 1 week · translate
Jackson
你问我数量我就心痛了啦!
加密货币我也不敢投资很多,毕竟要真的了解它太技术了。
去年还持有21000多个,结果很低0.16就一路分批开始卖出了。现在卖剩5000多个罢了!
我想你买的时候,就是我傻傻卖出的时候咯!哈哈
Like · 1 week · translate
Jackson
剩了的就委托矿池收息了,不打算再卖了。再卖就没有了。哈哈。等几年后吧!或许还真的能高到达20美元,大约是目前btc一兆市值哦!
当然btc我也相信未来100万一个也不奇怪。
Like · 1 week · translate
Jackson
ADA是POS很多人买来投资就是储值质押,委托收息。目前72%的币都被委托了,我相信这样的设计不增值都难吧!就好像btc上限2100万个,供应有限需求不断,长期上涨的机会比较大啦!加上越来越多企业和机构将btc做为储值选择之一。整体币市或许波动会慢慢稳定下来吧!
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Goeh Kar Win
Cypark昨天是站稳support了, 今天会不会跌破support 回去1.17 1.18...我要进场咯
2 Like · 1 week · translate
Jackson
我看sma200 1.17以上,确实靠近了很有吸引力了!股息和业绩利好一些,就有波动了。哈哈
Like · 1 week · translate
Jackson
怎么感觉今天开盘的成交量比较多吗?
Like · 1 week · translate
Geouis Wei
Jackson 持有cypark多久啦?
Like · 1 week · translate
Jackson
cypark持股不久啦!之前0.89-0.9卖入的,经过多次买卖后,整体也卖出40%。目前只保留600lot,均价0.545。掉到1块可以,不要掉到Rm0.6就OK了。
剩下的需要hold得住,等Rm5.45吧,嘻嘻!
1 Like · 1 week · translate
Jackson
你的问题是持有多久了……应该是去年10月左右买入的吧!
1 Like · 1 week · translate
大白鲨
我来了,快点掉回去 0.60 吧!哈哈哈哈哈哈
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Jackson
大白鲨,掉回0.6。
手套股可以再创高峰吗?
如果可以我也不是很介意啦!哈哈
Like · 1 week · translate
大白鲨
今天都 4 头了!下个礼拜要是突破 5 头,年后在突破万多,那时就大飙
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Jackson
是哦终于4头了哦……如果mco都控制不住升势。那么很快就会庆祝行情了
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Anson Sin
Cypark 如果跌到0.6的话,还等什么,H9E
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大白鲨
哎哟 5 又不来了!这次死火了
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Anson Sin
过完Raya会严重,希望cypark真的可以跌到你说的0.6咯,0.9也不错了
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大白鲨
敢敢等它跌破吧!现在进了也没用政府自己都很乱水
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Goeh Kar Win
做梦都没有想到他会回到现在这个价钱....谢谢那些丢票的人 ....谢谢...哈哈哈哈哈哈
Like · 1 week · translate
Nick Soo
股票就是那样的。 。。。
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Yik Hiong Leong
转去钢铁股吧
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Star Lucky
哇,天天跌。哈哈 要准备住套房了
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Smile Book
一直esos,我都想進去當員工了。。。
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Geouis Wei
这支股怎么跌那么够力啊
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政霖吴
超卖了,应该差不多要反弹了吧,加油大家
Like · 1 week · translate
Star Lucky
上次假突破之后就一路跌到现在。哈哈 真棒
Like · 1 week · translate
Nick Soo
不要说什么反弹了。 。。。。。。。
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Loai Ct
天天请你喝红茶。。。。
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大白鲨
红茶炖蛋,可能不够补,应该要红茶炖榴莲
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政霖吴
真的,价值投资真的要克服很多心理障碍,我从profit 30%到现在红了。幸好有你们一群股东门一起分享资讯,互相鼓励。
2 Like · 1 week · translate
大白鲨
努力吧!最好先套利一半,另一半等时间,要过年了!五穷 may go away
1 Like · 1 week · translate
Star Lucky
吴你跟我差不多,我也是一直average up,本来profit结果跌一点就加码,結果越加越跌, 变红了现在。哈哈 价值投资真的难。
3 Like · 1 week · translate
大白鲨
一 平 ,二 杨 ,三 拐弯 ,四 略 降,五 穷, 六 绝, 七 翻 身,七 上 ,八 下,金 九, 银 十开花,十 一无奇, 十 二 增仓库。
4 Like · 1 week · translate
Zack Gan
投资这类成长(未来)的产业,本来就不容易,希望有那一天,能结出硕果吧
1 Like · 1 week · translate
Wei Loon Chan
这里跌大家都会安慰对方,你们去看看supermax 简直天壤之别 哈哈
3 Like · 1 week · translate
JING
所以投资不是只要看前景罢了
那样的话 油气股早都死了
Like · 6 days · translate
Fong Jun Jie
不急钱用的直接放着不管吧,反正年尾/2022年头发电厂运作后业绩就开始好,债务开始少
现在整个市场都差,不看好过看,看了心情又不好。虽然知道自己在价值投资,可是看到每天跌还是会sien sien的,哈哈哈
大家共勉之,除非你认为他的业绩以后会跌那就另当别论吧,至少我是看到他的业绩会一年比一年好
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7 Like · 6 days · translate
Star Lucky
想再买,又怕越买越跌。hmm 好犹豫。
Like · 6 days · translate
Jackson
生意上上下下是很正常的,股价亦是如此。

价值投资是什么?
是买到低估值,等它回到正常估值吗?
还是正常估值等它每年成长10%或20%呢?

如果是每年20%的增长,那我们买进后又要等多久才能得到20%的回报呢?
如果是要股价翻倍,正常情况又需要多久时间咧?
短时间内获得大幅回报,确实需要主题来制造的高成长预期。股价才会大幅上涨。但是股票人气旺盛股价大幅上涨后,就很难知道合理估值了。多少是太高,多少算是追高,完全市场说得算。只有股价恢复平静状态,我们就知道了。手套是如此,药剂股是如此,未来钢铁股亦是如此。

所以要长期投资,那就要经得起时间的考验。平静的时候量力投资你有信心的股票。就等它再次活跃起来啦!
cypark个人想法是,短期内派发股息是能够维持和提振投资者信心。但长期还是要看财政更健康和成长。它是需要时间等待的股票唷!
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4 Like · 6 days · translate
Jackson
star lucky,我理想是sma200附近。如果越低买风险越低的话。我想1.15已经不错了吧!但现在看可能买不到啦!哈哈
3 Like · 6 days · translate
Goeh Kar Win
已经超卖了.......
Like · 6 days · translate
Loai Ct
什么超卖........
Like · 6 days · translate
Ym Goh
這個價位可以建倉了。。。
Like · 6 days · translate
Ranger
现在的价钱的确非常吸引了
Like · 6 days · translate
CF Ng
进来跟大家一起做个小股东
Like · 6 days · translate
Smile Book
恶心的股价。。。我的心太软,心太软!早知道就卖了。世上没有早知道。
Like · 6 days · translate
CF Ng
下个星期反弹了的 已经很要超卖了
Like · 6 days · translate
刘敬宝
今天1.2继续加码。。。
买了放着
1 Like · 6 days · translate
政霖吴
加码了,难得的raya sales
1 Like · 6 days · translate
陈强强
一看就知道还会继续长期大跌的啦
Like · 6 days · translate
Jason Yzs
这只蟑螂强又来拿吊了 哈哈哈哈哈
2 Like · 6 days · translate
Star Lucky
mco关系吗,什么股都跌。。。又有便宜票可以开始买了
Like · 11 hours · translate
Andy Choo
今天收在了关键,如果明天再跌就狼狈不堪了。
Like · 9 hours · translate
Ym Goh
一開始以為1.30很美了,結果跌到現在
1 Like · 8 hours · translate
jh kuek
Ngam ngam touch ma 200
1 Like · 8 hours · translate