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The Peak Project in Johor AQRS is optimistic that it will be able to complete the construction and fully sell the units at The Peak, Johor, capitalizing on the buoyant Johor property market. Management has shared that it is currently working to get bank financing to re-commence the construction work and it expects to complete the project by 2HCY2025. Successful implementation of this plan will contribute to annual savings amounting to RM12-15mn in Liquidated Ascertained Damages (LAD) charges, thereby possibly doubling its earnings immediately. As at 9M23, AQRS recorded a total of RM10.2mn in LAD.
Since The Peak JB Condominium issue on going to be resolved. I believe share price will start pushing up to next higher level. Good luck to those who patiently hold the share & will be the turning point? Let's wait and see.
E'Island Puchong project also delayed. Project launch on 2019 & expected complete on Q3 2023 but now delayed to Q3 2024. Is it another penalty need to pay due to delay?
RM 15 million equivalent to 3 cents per share. This is the reason company need to pay THE PEAK condominium buyers due to project delay instead of give shareholders dividend.
Share price continue low as long as THE PEAK condominium project problem not able to resolve & company need to pay LAD to buyers RM 15 million per year. This project launch since 2013 but yet to complete till today 2024. Now become a sick project.
Based on report, 3.5 million loss to pay LAD for THE PEAK JB. 4 quarters will loss 14 million. This is huge loss & will be continued for each year until THE PEAK condominium JB abandoned issue being resolved. Top management really need to take immediate action to stop the bleeding. Share price will continue remain at lower price. No hope for this company if want to play shorten while waiting the problem to be resolved.
Q2 Profit still huge impacted by LAD for The Peak Condo at JB. This project already 10 years but STOP after completed 87%. The management still didn't update the future plan about the actions to be taken in the report. Just sharing all good news but actually The Peak Project is killing point for company to growth & earn more. Almost 50% of profit need contribute for LAD The Peak abandoned project.
