Welcome!

| Site: Malaysia | Sign In or Register (FREE)

Home Market Buzz Stock Quote Price Target Portfolio How to Invest Member Services

Headlines | Financial Result | Entitlement | Insider | Meeting | Additional Listing

Highlights Brokerage rate as low as 0.05% or min RM 8. C heck out M+ Online. "Take Profit with Just One Tick!"

PublicInvest Research Custom Search

Author: PublicInvest | Latest post: Fri, 18 Aug 2017, 09:10 AM

An official blog in I3investor to publish research reports provided by PublicInvest Research team.

All materials published here are prepared by Public Investment Bank Berhad. For latest offers on
Public Invest trading products and news, please refer to:
https://www.publicinvestbank.com.my/pbswecos/default.asp

PUBLIC INVESTMENT BANK BERHAD (20027-W)

9th Floor, Bangunan Public Bank
6, Jalan Sultan Sulaiman, 50000 Kuala Lumpur
T 603 2031 3011 | F 603 2272 3704 | Dealing Line 603 2260 6718

Blog Headlines (by Date) Blog Index

JAKS - Weak Earnings

Author: PublicInvest | Publish date: Fri, 18 Aug 2017, 09:04 AM

JAKS Resources (JAKS) 2QFY17 net profit came in at a paltry RM2.0m (-79.7% YoY, -73.3% QoQ) which was again
below our and consensus expectations. The key profit driver is its Vietnam EPC construction work but the losses
from its property development and property investment divisions almost wiped out all the gains. It also incurred
465 230 508 644
charges for the granting of share options for the long-term incentive plan (LTIP) amounting to RM7.6m. Ex-LTIP
charges, the Groups 1H2017 net profit of RM17.1m only constituted c.29% and 28% of our and consensus full year
estimates. Worryingly, we understand that the liquidated and ascertained damages (LAD) from Pacific Star could Active Gainers Losers
drag till next year, which is worse than expected. As such, we adjust downwards our FY17/18 earnings by 39% Top 10 A ctive Counters
and 11% respectively after accounting for LTIP charges and LAD charges. The earnings from its EPCC contract Name Last Change

open in browser PRO version Are you a developer? Try out the HTML to PDF API pdfcrowd.com
 Name Last Change
remains patchy, with only RM10.2m recognized in Q2FY17, down from RM14.9m in Q1FY17. Until we see more
UMW O G 0.33 +0.02
progress i.e. billings from Vietnam, we would rather err on the side of caution and maintain Neutral call for now,
MTO UC HE 0.275 -0.025
with unchanged RM1.50 TP, derived from c.30% discount to our SOTP estimates of RM2.20.
JAG 0.145 0.00
Higher revenue from construction. Construction revenue rose 25.8% YoY, driven by progress billing from C O MPUGT 0.03 0.00
local jobs. We understand that its EPC construction in Vietnam is progressing on schedule and is expected to HUBLINE 0.06 +0.005
be stronger in the coming quarters. Outstanding orderbook is estimated at RM2.5bn, depleted from RM2.6bn
MLAB 0.21 0.00
in the last quarter. The EPC contract for Vietnam IPP alone is estimated at RM1.63bn, with the other key
contract being the Sungai Besi-Ulu Kelang Elevated Expressway (SUKE) job (RM484m contract value). STR AITS-W A 0.135 +0.005
LC TITAN-C E 0.32 -0.025
Earnings drag from property. Property division continued to drag earnings, with c.RM13m net loss incurred
PUC 0.13 0.00
during the quarter, from RM10m loss in Q1FY17. Again, the losses were due to operating cost and expenses
SYSTEC H 0.415 -0.025
related to financing cost and building depreciation of the Evolve Concept Mall amounting to c.RM7.9m.
Meanwhile, the Pacific Star project at Section 13, Petaling Jaya also incurred RM6.9m LAD charges. Unbilled
sales stood at RM194.1m in 2QFY17.

Source: PublicInvest Research - 18 Aug 2017 TOP ARTICLES

1. JAKS' Poor 2nd
Quarter Result - Koon
Yew Yin Koon Y ew Y in's Blog

2. UMNO's Felda Fixed

Deposit: Going, Going,
Gone - Koon Yew Yin
Koon Y ew Y in's Blog

3. 3 Stocks to Benefit
from the Growing
Solar Industry
Small_C ap_A s ia

4. How We Can Stop the

Rm 55 Billion East
Coast Rail Link
Contract? Koon Yew
Yin Koon Y ew Y in's Blog

5. []
G ood
A rtic les to Share
Share this https://klse.i3investor.com/blogs/PublicInvest/130249.jsp

Labels: JAKS
open in browser PRO version Are you a developer? Try out the HTML to PDF API pdfcrowd.com
 Labels: JAKS Partners & Brokers

Related Stocks

Chart Stock Name Last Change Volume

JAKS 1.33 -0.08 (5.67%) 6,076,300

More articles on PublicInvest Research >>

PublicInvest Research Headlines - 18 Aug 2017 - A ug 1 8 , 2 0 1 7

Serba Dinamik - Pengerang Integrated Development Project - A ug 1 8 , 2 0 1 7

Parkson - Improvements in PRGs 1HFY17 - A ug 1 8 , 2 0 1 7

SP Setia - Sales Boost From Australia - A ug 1 8 , 2 0 1 7
CLH - Slowdown Due To Unexpected Hiccups - A ug 1 8 , 2 0 1 7
TRADING BUY COMFORT (2127) - A ug 1 7 , 2 0 1 7

open in browser PRO version Are you a developer? Try out the HTML to PDF API pdfcrowd.com
 Like Comment

Be the first to like this.

Be the first to write a comment.

Write a comment..

investor HOME MARKET BUZZ STOCK QUOTE PRICE TARGET HOW TO INVEST OTHER SITES

Market Summary News Headlines Stock Quote Latest Price Target Investing Basics Australia
Community Blog Headlines Trending Now Recent Search Brokers Comparison Canada
Forum Financial Results Market Filter Top Price Target Investing Terms Malaysia
Mobile App Dividends Recent Stock Quote Investment Advice Singapore

open in browser PRO version Are you a developer? Try out the HTML to PDF API pdfcrowd.com
 Singapore
Events Bonus, Split & Active Stocks PORTFOLIO Invest in US United Kingdom
Stock Chart Plugin Consolidation Top Gainers My Portfolio Forex Trading
United States
Share a Site Insider Top Losers Public Portfolio Books Review
Partner & Ads Meeting Calendar Stocks Listing
Additional Listing

I3 LLC 2010-2017
Home . Site Map . Disclaimer . Terms & C onditions . Privacy Policy . C ommunity Standards . C ontact Us . About I3investor

open in browser PRO version Are you a developer? Try out the HTML to PDF API pdfcrowd.com