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CYPARK (5184) S

CYPARK RESOURCES BERHAD Summary

0.875

+0.005 (+0.57%)

Category : Industrial Products & Services - Main Market
High 0.875
Low 0.860
Volume 804,300
Volume (B/S) 20,000 / 73,500
Price Bid/Ask 0.865 / 0.875
   
52w 0.605 - 1.610
ROE 10.49
P/E 5
EPS 18.35
DPS 0
DY 0.00%
 
NTA 1.7500
PTBV 0.50
RPS 67.11
PSR 1
Market Cap 419.9M
RSI(14) Neutral 41.7
Stochastic(14) Oversold 18.8
Average Volume 1,193,500
Relative Volume 0.7

EPS DPS NTA Revenue P/L Quarter Q Date Financial Year Announced Net% Report
3.47 0.000 1.7500 55,685k 16,148k 3 2020-07-31 31 Oct, 2020 2020-09-30 19.5% View
3.97 0.000 1.7100 75,753k 18,504k 2 2020-04-30 31 Oct, 2020 2020-06-26 4.3% View
3.11 0.000 1.6600 90,876k 14,549k 1 2020-01-31 31 Oct, 2020 2020-03-18 11.8% View
8.44 0.000 1.6200 99,697k 38,871k 4 2019-10-31 31 Oct, 2019 2019-12-30 23.3% View
4.38 0.000 1.5100 87,173k 20,060k 3 2019-07-31 31 Oct, 2019 2019-09-30 4.4% View
4.24 0.000 1.5100 101,430k 19,344k 2 2019-04-30 31 Oct, 2019 2019-06-28 3.2% View
3.50 0.000 1.4700 88,439k 13,008k 1 2019-01-31 31 Oct, 2019 2019-03-29 6.1% View
7.38 0.000 2.1600 79,656k 20,183k 4 2018-10-31 31 Oct, 2018 2018-12-31 11.2% View
7.26 0.000 2.0900 75,129k 19,215k 3 2018-07-31 31 Oct, 2018 2018-09-28 16.4% View
7.18 0.000 2.0600 99,076k 18,748k 2 2018-04-30 31 Oct, 2018 2018-06-29 61.5% View
4.69 0.000 1.9900 84,025k 12,258k 1 2018-01-31 31 Oct, 2018 2018-03-30 8.1% View
7.09 0.000 1.9400 64,180k 18,155k 4 2017-10-31 31 Oct, 2017 2017-12-29 40.4% View
5.76 0.000 1.8700 75,096k 16,504k 3 2017-07-31 31 Oct, 2017 2017-09-29 24.1% View
4.59 0.000 1.8500 83,925k 11,607k 2 2017-04-30 31 Oct, 2017 2017-06-30 24% View
4.48 0.000 1.7900 78,484k 11,338k 1 2017-01-31 31 Oct, 2017 2017-03-30 11.1% View
4.75 0.000 1.7400 67,599k 11,901k 4 2016-10-31 31 Oct, 2016 2016-12-30 45.3% View
5.34 0.000 1.6900 70,167k 13,303k 3 2016-07-31 31 Oct, 2016 2016-09-30 8.6% View
6.14 0.000 1.6800 76,371k 15,266k 2 2016-04-30 31 Oct, 2016 2016-06-30 4.9% View
4.11 0.000 1.6200 68,791k 10,209k 1 2016-01-31 31 Oct, 2016 2016-03-31 19.6% View
3.89 0.000 1.5800 55,740k 8,167k 4 2015-10-31 31 Oct, 2015 2015-12-31 27.3% View
6.09 0.000 1.5700 61,444k 12,245k 3 2015-07-31 31 Oct, 2015 2015-09-30 0.8% View
7.31 0.000 1.5700 72,952k 14,546k 2 2015-04-30 31 Oct, 2015 2015-06-30 6.6% View
4.34 0.000 1.5000 59,922k 8,536k 1 2015-01-31 31 Oct, 2015 2015-03-31 10.4% View
3.48 0.000 1.4500 50,042k 6,416k 4 2014-10-31 31 Oct, 2014 2014-12-31 28.2% View
6.70 0.000 1.3700 66,581k 12,145k 3 2014-07-31 31 Oct, 2014 2014-09-29 23.1% View
7.60 0.000 1.3500 68,917k 13,649k 2 2014-04-30 31 Oct, 2014 2014-06-30 29.6% View
4.32 0.000 1.2700 51,464k 7,732k 1 2014-01-31 31 Oct, 2014 2014-03-28 17.2% View
4.42 0.000 1.2100 53,199k 7,281k 4 2013-10-31 31 Oct, 2013 2013-12-31 44.6% View
6.13 0.000 1.1600 53,687k 9,862k 3 2013-07-31 31 Oct, 2013 2013-09-30 53.2% View
6.58 0.000 1.0600 59,239k 10,530k 2 2013-04-30 31 Oct, 2013 2013-06-28 35.2% View
4.13 0.000 1.0000 50,971k 6,599k 1 2013-01-31 31 Oct, 2013 2013-03-29 1.4% View
3.22 0.000 0.9800 56,120k 4,963k 4 2012-10-31 31 Oct, 2012 2012-12-31 105.3% View
4.18 0.000 0.9500 53,836k 6,438k 3 2012-07-31 31 Oct, 2012 2012-09-28 26.3% -
5.05 0.000 0.9200 43,602k 7,790k 2 2012-04-30 31 Oct, 2012 2012-06-29 25.2% -
4.49 0.000 0.7700 42,267k 6,513k 1 2012-01-31 31 Oct, 2012 2012-03-29 0.6% -
3.00 0.000 0.7300 42,407k 4,115k 4 2011-10-31 31 Oct, 2011 2011-12-30 21.6% -
4.00 0.000 0.7000 35,220k 5,096k 3 2011-07-31 31 Oct, 2011 2011-09-29 3.9% -
4.00 0.000 0.6900 40,978k 6,222k 2 2011-04-30 31 Oct, 2011 2011-06-28 0% -
5.00 0.000 0.6500 42,608k 6,551k 1 2011-01-31 31 Oct, 2011 2011-03-28 0% -
4.00 2.620 0.6000 36,312k 5,384k 4 2010-10-31 31 Oct, 2010 2010-12-30 0% -
6.00 0.000 0.6500 44,437k 4,907k 3 2010-07-31 31 Oct, 2010 2010-10-12 0% -

Financial Year Revenue ('000) Net ('000) EPS Report
31 Oct, 2020 222,314 49,201 10.55
31 Oct, 2019 376,739 91,283 20.56 View
31 Oct, 2018 337,886 70,404 26.51 View
31 Oct, 2017 301,685 57,604 21.92 View
31 Oct, 2016 282,928 50,679 20.34 View
31 Oct, 2015 250,058 43,494 21.63 View
31 Oct, 2014 237,004 39,942 22.10 View
31 Oct, 2013 217,096 34,272 21.26 View
31 Oct, 2012 195,825 25,704 16.94 View
31 Oct, 2011 161,213 21,984 16.00 View
31 Oct, 2010 80,749 10,291 10.00 View

Announced Financial Year Subject EX Date Payment Date Amount Indicator
14 May 2019 31 Oct 2018 Final Dividend (with Dividend Re-Investment Plan) 30 May 2019 28 Jun 2019 0.0390 Currency View
29 Apr 2019 31 Oct 2018 Final Dividend 30 May 2019 28 Jun 2019 0.0390 Currency View
14 May 2018 31 Oct 2017 Final Dividend (with Dividend Re-Investment Plan) 25 May 2018 28 Jun 2018 0.0560 Currency View
05 May 2017 31 Oct 2016 Final Dividend (with Dividend Re-Investment Plan) 19 May 2017 22 Jun 2017 0.0520 Currency View
29 Apr 2016 31 Oct 2015 Final Dividend 13 May 2016 14 Jun 2016 0.0500 Currency View
27 Mar 2015 31 Oct 2014 Final Dividend 18 May 2015 19 Jun 2015 0.0500 Currency View
28 Mar 2014 31 Oct 2013 Final Dividend 16 May 2014 19 Jun 2014 0.0500 Currency View
25 Mar 2013 31 Oct 2012 Final Dividend 10 May 2013 13 Jun 2013 0.0400 Currency View
29 Mar 2012 31 Oct 2011 First and Final Dividend 14 May 2012 15 Jun 2012 0.0375 Currency View
04 Apr 2011 31 Oct 2010 First and Final Dividend 12 May 2011 15 Jun 2011 5.2500 Percentage View

Announced EX Date Subject Ratio
30 Nov 2018 18 Dec 2018 Bonus Issue 1 : 2 View

Name Price Change Volume Gearing Premium Premium % Maturity
No warrants found.

Announced Date Change Type Shares Name
20 Oct 2020 15 Oct 2020 Disposed 200,000 EMPLOYEES PROVIDENT FUND BOARD
15 Oct 2020 12 Oct 2020 Disposed 200,000 EMPLOYEES PROVIDENT FUND BOARD
02 Oct 2020 29 Sep 2020 Disposed 116,000 EMPLOYEES PROVIDENT FUND BOARD
24 Sep 2020 23 Sep 2020 Disposed 1,080,000 TAN SRI RAZALI BIN ISMAIL
24 Sep 2020 23 Sep 2020 Disposed 1,080,000 TAN SRI RAZALI BIN ISMAIL
04 Sep 2020 03 Sep 2020 Disposed 2,000,000 TAN SRI RAZALI BIN ISMAIL
04 Sep 2020 03 Sep 2020 Disposed 2,000,000 TAN SRI RAZALI BIN ISMAIL
01 Sep 2020 26 Aug 2020 Disposed 85,700 EMPLOYEES PROVIDENT FUND BOARD
28 Aug 2020 25 Aug 2020 Disposed 179,300 EMPLOYEES PROVIDENT FUND BOARD
27 Aug 2020 24 Aug 2020 Disposed 312,800 EMPLOYEES PROVIDENT FUND BOARD
26 Aug 2020 21 Aug 2020 Disposed 147,900 EMPLOYEES PROVIDENT FUND BOARD
23 Jul 2020 20 Jul 2020 Disposed 1,000,000 TAN SRI RAZALI BIN ISMAIL
23 Jul 2020 20 Jul 2020 Disposed 1,000,000 TAN SRI RAZALI BIN ISMAIL
17 Jul 2020 15 Jul 2020 Disposed 1,160,000 TAN SRI RAZALI BIN ISMAIL
17 Jul 2020 15 Jul 2020 Disposed 1,160,000 TAN SRI RAZALI BIN ISMAIL
10 Jul 2020 07 Jul 2020 Disposed 500,000 TAN SRI RAZALI BIN ISMAIL
10 Jul 2020 07 Jul 2020 Disposed 500,000 TAN SRI RAZALI BIN ISMAIL
24 Jun 2020 23 Jun 2020 Disposed 1,000,000 TAN SRI RAZALI BIN ISMAIL
24 Jun 2020 23 Jun 2020 Disposed 1,000,000 TAN SRI RAZALI BIN ISMAIL
15 Jun 2020 12 Jun 2020 Disposed 1,000,000 TAN SRI RAZALI BIN ISMAIL
15 Jun 2020 12 Jun 2020 Disposed 1,000,000 TAN SRI RAZALI BIN ISMAIL
11 Jun 2020 10 Jun 2020 Disposed 820,000 TAN SRI RAZALI BIN ISMAIL
11 Jun 2020 10 Jun 2020 Disposed 820,000 TAN SRI RAZALI BIN ISMAIL
10 Jun 2020 09 Jun 2020 Disposed 1,180,000 TAN SRI RAZALI BIN ISMAIL
10 Jun 2020 09 Jun 2020 Disposed 1,180,000 TAN SRI RAZALI BIN ISMAIL
05 Jun 2020 04 Jun 2020 Disposed 150,000 TAN SRI RAZALI BIN ISMAIL
05 Jun 2020 04 Jun 2020 Disposed 150,000 TAN SRI RAZALI BIN ISMAIL
04 Jun 2020 03 Jun 2020 Disposed 290,000 TAN SRI RAZALI BIN ISMAIL
04 Jun 2020 02 Jun 2020 Disposed 162,950 TAN SRI RAZALI BIN ISMAIL
04 Jun 2020 02 Jun 2020 Disposed 1,210,000 TAN SRI RAZALI BIN ISMAIL
04 Jun 2020 03 Jun 2020 Disposed 290,000 TAN SRI RAZALI BIN ISMAIL
04 Jun 2020 02 Jun 2020 Disposed 162,950 TAN SRI RAZALI BIN ISMAIL
04 Jun 2020 02 Jun 2020 Disposed 1,210,000 TAN SRI RAZALI BIN ISMAIL
04 Jun 2020 01 Jun 2020 Transferred 1,168,604 EMPLOYEES PROVIDENT FUND BOARD
04 Jun 2020 01 Jun 2020 Transferred 1,168,604 EMPLOYEES PROVIDENT FUND BOARD
02 Jun 2020 28 May 2020 Acquired 896,500 EMPLOYEES PROVIDENT FUND BOARD
27 Apr 2020 23 Apr 2020 Disposed 100,000 DATO' DAUD BIN AHMAD
27 Apr 2020 23 Apr 2020 Disposed 100,000 DATO' DAUD BIN AHMAD
24 Apr 2020 22 Apr 2020 Disposed 440,000 DATO' DAUD BIN AHMAD
24 Apr 2020 21 Apr 2020 Disposed 120,000 DATO' DAUD BIN AHMAD
24 Apr 2020 22 Apr 2020 Disposed 440,000 DATO' DAUD BIN AHMAD
24 Apr 2020 21 Apr 2020 Disposed 120,000 DATO' DAUD BIN AHMAD
21 Apr 2020 20 Apr 2020 Disposed 93,500 DATO' DAUD BIN AHMAD
21 Apr 2020 17 Apr 2020 Disposed 50,000 DATO' DAUD BIN AHMAD
21 Apr 2020 20 Apr 2020 Disposed 93,500 DATO' DAUD BIN AHMAD
21 Apr 2020 17 Apr 2020 Disposed 50,000 DATO' DAUD BIN AHMAD
17 Apr 2020 17 Apr 2020 Others 300,000 DATUK ABDUL MALEK BIN ABDUL AZIZ
17 Apr 2020 17 Apr 2020 Others 525,000 ENCIK HEADIR BIN MAHFIDZ
17 Apr 2020 17 Apr 2020 Others 7,000,000 TAN SRI RAZALI BIN ISMAIL
17 Apr 2020 17 Apr 2020 Others 19,525,000 DATO' DAUD BIN AHMAD
17 Apr 2020 17 Apr 2020 Others 525,000 ENCIK MEGAT ABDUL MUNIR BIN MEGAT ABDULLAH RAFAIE
17 Apr 2020 17 Apr 2020 Others 525,000 DATO DR FREEZAILAH BIN CHE YEOM
27 Mar 2020 26 Mar 2020 Disposed 1,200,000 TAN SRI RAZALI BIN ISMAIL
27 Mar 2020 25 Mar 2020 Disposed 2,200,000 TAN SRI RAZALI BIN ISMAIL
27 Mar 2020 24 Mar 2020 Disposed 1,500,000 TAN SRI RAZALI BIN ISMAIL
27 Mar 2020 26 Mar 2020 Disposed 1,200,000 TAN SRI RAZALI BIN ISMAIL
27 Mar 2020 25 Mar 2020 Disposed 2,200,000 TAN SRI RAZALI BIN ISMAIL
27 Mar 2020 24 Mar 2020 Disposed 1,500,000 TAN SRI RAZALI BIN ISMAIL
23 Mar 2020 20 Mar 2020 Disposed 2,000,000 DATO DAUD BIN AHMAD
23 Mar 2020 19 Mar 2020 Disposed 1,000,000 TAN SRI RAZALI BIN ISMAIL
23 Mar 2020 19 Mar 2020 Disposed 1,000,000 TAN SRI RAZALI BIN ISMAIL
23 Mar 2020 19 Mar 2020 Disposed 1,000,000 DATO DAUD BIN AHMAD
23 Mar 2020 19 Mar 2020 Disposed 1,500,000 DATO DAUD BIN AHMAD
23 Mar 2020 20 Mar 2020 Disposed 2,000,000 DATO DAUD BIN AHMAD
23 Mar 2020 20 Mar 2020 Disposed 500,000 DATO DAUD BIN AHMAD
23 Mar 2020 20 Mar 2020 Disposed 2,000,000 DATO DAUD BIN AHMAD
23 Mar 2020 19 Mar 2020 Disposed 1,000,000 DATO DAUD BIN AHMAD
23 Mar 2020 19 Mar 2020 Disposed 1,500,000 DATO DAUD BIN AHMAD
23 Mar 2020 20 Mar 2020 Disposed 500,000 DATO DAUD BIN AHMAD
23 Mar 2020 20 Mar 2020 Disposed 2,000,000 DATO DAUD BIN AHMAD
17 Mar 2020 12 Mar 2020 Others 525,000 ENCIK HEADIR BIN MAHFIDZ
17 Mar 2020 12 Mar 2020 Others 300,000 DATUK ABDUL MALEK BIN ABDUL AZIZ
17 Mar 2020 12 Mar 2020 Others 18,525,000 DATO DAUD BIN AHMAD
17 Mar 2020 12 Mar 2020 Others 7,000,000 TAN SRI RAZALI BIN ISMAIL
17 Mar 2020 12 Mar 2020 Others 525,000 DATO DR FREEZAILAH BIN CHE YEOM
17 Mar 2020 12 Mar 2020 Others 525,000 ENCIK MEGAT ABDUL MUNIR BIN MEGAT ABDULLAH RAFAIE
19 Feb 2020 14 Feb 2020 Acquired 500,000 EMPLOYEES PROVIDENT FUND BOARD
18 Feb 2020 14 Feb 2020 Disposed 500,000 TAN SRI RAZALI BIN ISMAIL
18 Feb 2020 13 Feb 2020 Disposed 147,400 TAN SRI RAZALI BIN ISMAIL
18 Feb 2020 14 Feb 2020 Disposed 500,000 TAN SRI RAZALI BIN ISMAIL
18 Feb 2020 13 Feb 2020 Disposed 147,400 TAN SRI RAZALI BIN ISMAIL
18 Feb 2020 17 Feb 2020 Disposed 90,000 DATUK ABDUL MALEK BIN ABDUL AZIZ
23 Jan 2020 23 Jan 2020 Others 300,000 ENCIK HEADIR BIN MAHFIDZ
23 Jan 2020 23 Jan 2020 Others 300,000 ENCIK MEGAT ABDUL MUNIR BIN MEGAT ABDULLAH RAFAIE
23 Jan 2020 23 Jan 2020 Others 4,000,000 TAN SRI RAZALI BIN ISMAIL
23 Jan 2020 23 Jan 2020 Others 300,000 DATUK ABDUL MALEK BIN ABDUL AZIZ
23 Jan 2020 23 Jan 2020 Others 300,000 DATO DR FREEZAILAH BIN CHE YEOM
23 Jan 2020 23 Jan 2020 Others 12,000,000 DATO DAUD BIN AHMAD
17 Jan 2020 14 Jan 2020 Disposed 525,000 EMPLOYEES PROVIDENT FUND BOARD
16 Jan 2020 13 Jan 2020 Disposed 1,012,500 EMPLOYEES PROVIDENT FUND BOARD
14 Jan 2020 09 Jan 2020 Disposed 40,000 EMPLOYEES PROVIDENT FUND BOARD
08 Jan 2020 03 Jan 2020 Disposed 127,200 EMPLOYEES PROVIDENT FUND BOARD
19 Dec 2019 16 Dec 2019 Acquired 1,168,604 EMPLOYEES PROVIDENT FUND BOARD
19 Dec 2019 16 Dec 2019 Disposed 1,168,604 EMPLOYEES PROVIDENT FUND BOARD
01 Nov 2019 29 Oct 2019 Disposed 500,000 EMPLOYEES PROVIDENT FUND BOARD
31 Oct 2019 25 Oct 2019 Acquired 300,000 EMPLOYEES PROVIDENT FUND BOARD
29 Oct 2019 23 Oct 2019 Acquired 251,400 EMPLOYEES PROVIDENT FUND BOARD


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Update: 13/Sep/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.
- The industry foresees the future LSS projects will have bigger capacities of more than 1000 MW to meet 20% of RE
- Malaysia Gov also targeting 6 x WTE Plants soon



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
- Prior to MCO, the targeted completion date was at Q2 2020
- 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 (announced/ secured)

- 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

To estimate Cypark FY2022 "Green tech and RE" revenue, lets dive in to their past record from FY2014 to FY2019 (Revenue in 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

Now, we estimate Cypark future recurring revenue, base on their On-Going Projects, which is mentioned above (Revenue in MYR)
- FY2020 - 59 millions +
- 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
- FY2023 - 274 millions +
Existing power plants + NEM + Others
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. My forecast recurring revenue for FY2021 is based on 172 MWdc ( 47 MWdc + 125 MWdc ) and Cyparks mentioned the expect to owns approximately 200 MWdc. This means that my forecast recurring revenue did not include the remaining 28 MWdc ( 172 MWdc + 28 MWdc = 200 MWdc ). The remaining 28 MWdc most probably is from NEM projects. With only 47 MWdc, the sales of energy already contributing about 59 millions revenue annually. 200 MWdc definitely will contribute positively to Cypark revenue.

Lets estimate Cypark's total revenue based on CEO's comment on achieving 500 MWdc by FY2022. My above estimated recurring revenue on FY2022 was based on 272 MWdc. If we were to add in both NEM projects which consist of 150 MWdc (MOU w/ Negeri Sembilan Corp + Kedah Gov), the total capacity would be 422 MWdc (very close to 500 MWdc from the CEO's target).

Forecasting Cypark's total revenue (RM):
- FY2017 - 301.7 millions
- FY2018 - 337.9 millions
- FY2019 - 376.7 millions
- FY2020 - 400 millions ++
- FY2021 - ???
- FY2022 - 700 millions ++ (500 MWdc)



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.

184.8 + 53.2 loans are not a problem for Cypark to pay off because they have 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
- 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.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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林敬永
email过去公司问问看,为什么酱子的..?
Like · 2 hours · translate
Jerry Lee
這個任務就拜託林兄了 本人只會說廢話和仙家 不善email溝通 :D
Like · 2 minutes · translate
xiayee1021
1 Like · Reply
Why director keep selling shares? Because too old dy ?
秋生黄
mayb tangan ketat
1 Like · 2 weeks · translate
Fork
Copy from @Hanson:

他们是为了不想让股价上
就一直卖得股价低过头时
就动用公司资金回购股票
股价维持低迷状态的原因
也是关系到散户不敢进场
因为怕收烂账的问题出现

没有外来的力量支撑股价
那么又加上他一直的卖票
众多散户投资者看到都怕
所以才会造就今天的股价
如果叫他等到块七才卖票
那么接他票的肯定是散户
最终他的票会变成流离票

虽然他的年龄是想退休了
但是他不能弃他伙伴不顾
他也得找个自己人来加入
至少得找个指定股东入股
所以我们才会看到他卖票

那么这个指定股东会是谁
你和我现在也没办法知道
只能等这个指定股东的票数
足够整体的5%时就会公布了

如果等到块七才卖给指定股东入场
那么这个指定股东愿意做大傻瓜吗?
现在酱低迷的股价有指定股东入场
有人卖就自然有人买入了股权
而且还是个超大户的入股呢
我相信这入股的指定股东
背景应该与政治有关系

原因是拉杂里以前也是有
政治党派背景的UMNO......
Show more
3 Like · 2 weeks · translate