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GSS ENERGY - The NEW ENERGY PLAY BULL
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Joelton
Supreme |
31-Jan-2023 08:59
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GSS Energy guides for net loss in FY2022
GSS Energy has guided that it will report a net loss for the FY2022 ended Dec 31, 2022.
The net loss stems from an impairment made in relation to the group&rsquo s investment in GSS Energy Trembul Limited (GETL) and the amount due from GETL.
GSS Energy previously announced, on Dec 28, 2022, that PT Pertamina had terminated the co-operative agreement for the Trembul operating area with PT Sarana GSS Trembul (PT SGT).
&ldquo PT SGT and Oakhurst Investments Pte Ltd are still in the midst of appealing against this termination, but were unable to successfully obtain an appeal by Dec 31, 2022,&rdquo says GSS Energy.
The group is expected to release its results on March 1.
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Catrade
Master |
30-Jan-2023 22:52
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Profit guidance: Expect net loss for FY2022
The board of directors of GSS Energy Limited (the ?Company? together with its subsidiaries, the ?Group?) wishes to issue a profit guidance for the financial year ended 31 December 2022 (?FY 2022?). Based on a preliminary assessment of the Group?s unaudited financial results for FY 2022, the Group is expected to report a net loss for FY 2022. |
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Joelton
Supreme |
29-Dec-2022 10:08
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GSS Energy faces S$12m write-off with termination of associate&rsquo s agreement
CATALIST-LISTED precision engineering firm GSS Energy&rsquo s associate company PT Sarana GSS Trembul (PT SGT) failed to fulfil obligations of a work programme amounting to US$6.4 million by a September deadline, causing its co-operative agreement to be terminated.
In a bourse filing on Wednesday (Dec 28), GSS Energy said the agreement&rsquo s termination will affect the recoverability of the group&rsquo s S$2.8 million investment in GSS Energy Trembul Limited (GETL), and a S$9.9 million sum due from GETL and PT SGT. The amounts were calculated based on the latest unaudited financial statements for the financial period ended Jun 30, 2022.
GSS Energy holds a 20 per cent stake in GETL, which in turn holds 49 per cent of PT SGT.
No income has been generated under the agreement, which was entered into on Nov 2, 2016 with PT Pertamina, for the Trembul Operating Area. The agreement was meant to last 15 years.
GSS Energy said an appeal is pending, but if it is not successful by Dec 31, the group would have to write off or impair the amounts in the accounts for the financial year ending Dec 31, which would place a material impact on its net tangible assets (NTA).
Assuming the termination was on Dec 31, 2021, the pro forma financial effects on the group&rsquo s NTA per share would be S$51 million, down from S$63.6 million before the termination.
Correspondingly, the pro forma financial effects on the group&rsquo s earnings per share, after tax, would be -1.18 Singapore cents, down from 0.82 cent.
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Catrade
Master |
29-Dec-2022 00:44
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Another failed investment from GSS..  This stock had dropped from 17c to current 4.8c... very miserable indeed !
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mrwise
Supreme |
29-Dec-2022 00:02
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This may be good to terminate...
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spursfan
Supreme |
28-Dec-2022 22:59
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TERMINATION OF CO-OPERATION AGREEMENT
WITH PT SARANA GSS TREMBUL BY PT PERTAMINA Just highlight the potential fallout 'Financial impact of the Termination No income has been generated under the KSO Agreement and the Company has no plans to incur further expenditure on the work program for the Trembul Operating Area. The Termination will affect the recoverability of the Group?s investment in GETL (S$2,753,000) and the amount of money due from GETL and PT SGT (S$9,862,000), which are based on the latest unaudited financial statements for the financial period ended 30 June 2022. If the appeal against the Termination is not successfully obtained by 31 December 2022, the Company would have to write-off / impair the above amounts in the accounts for the financial year ending 31 December 2022 and this write-off / impairment is expected to have a material effect on the Group?s net tangible assets. The unaudited financial statements of the Group for the financial year ending 31 December 2022 is expected to be announced by the Company by 1 March 2023.' https://links.sgx.com/1.0.0/corporate-announcements/NKFMZ0RLS8FMCNVJ/742718_SGX-GSSEL-Termination%20of%20KSO%20Agreement%20with%20PT%20Sarana%20GSS%20Trembul%20by%20Pertamina.pdf |
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newbie888
Veteran |
27-Dec-2022 16:39
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Sometimes I wonder why is there a need for the co take so long to release the announcement since the letter is already ready by the time they halt trading of its shares ...
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RoyalGun
Member |
24-Dec-2022 00:18
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Halt on a long weekend. Either big bad news or good news. | ||
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spursfan
Supreme |
23-Dec-2022 08:19
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Trading halt pending announcement. | ||
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RoyalGun
Member |
06-Dec-2022 18:13
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Today volume spike more than average.. BB collecting ? Watching. | ||
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RoyalGun
Member |
21-Nov-2022 19:46
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I think EV Bikes market can go faster and bigger than EV Cars market.. Kawasaki has previewed the first electric motorcycle that it will soon bring to the market. Unveiled in prototype guise at the recent Intermot motorcycle trade fair in Cologne, Germany, the EV prototype will hit the market before the end of the year and forms part of Kawasaki&rsquo s plan to offer more than 10 electric and hybrid electric motorcycles by 2025. The EV prototype will be the electric equivalent of a 125 cc motorcycle when it hits the market and has a simple design that doesn&rsquo t scream, &lsquo Hey, look, I&rsquo m an electric bike!&rsquo Indeed, one could be fooled for thinking it has a small-capacity combustion engine that has been hidden under some black body work. Indeed, the design of the EV Prototype is very similar to the Kawasaki Z400 and has the same frame. |
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RoyalGun
Member |
04-Nov-2022 08:04
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Buyers came in yesterday...looks good. | ||
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Catrade
Master |
24-Oct-2022 23:49
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 Hope it will give dividend in due course ... not like the past oil exploration investment!
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josephyeo
Elite |
24-Oct-2022 23:43
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GSS had been profitable. It has a forward p/e of 6.4 x. This is without contribution fron the Electric Bike sector. |
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Catrade
Master |
24-Oct-2022 22:38
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Hope this new Electric Bike investment will turn GSS Energy around into a profitable company into the future. | ||
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RoyalGun
Member |
23-Oct-2022 13:36
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I think personally Electric Bike can work in Asia countries where still mass number of people rides bike ( Vietnam, Thailand, Indonesia, Malaysia too ) . Vested 200Lots and park in chest. |
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SmallSmall
Supreme |
21-Oct-2022 09:03
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SINGAPORE, October 13, 2022 &ndash GSS Energy Limited (SGX: 41F) (&ldquo GSS Energy&rdquo or the &ldquo Company&rdquo , and together with its subsidiaries, the &ldquo Group&rdquo ) is pleased to have hosted the Minister for Trade and Industry of Singapore, Mr. Gan Kim Yong, at its factory in Batam, Indonesia. The factory in Batam, Indonesia, which was started since 1991, is one of the Group' s GSS ENERGY LIMITED (Incorporated in the Republic of Singapore) (Company Registration No. 201432529C) 2 manufacturing factories across China, Singapore and Indonesia, and provides electronic manufacturing services, such as plastic injection molding, printed circuit board assembly and product assembly. With a factory space of approximately 28,000 square meters, the factory in Batam, Indonesia, is the Group&rsquo s flagship manufacturing hub, where assembly and production of its electric two-wheelers will also take place all under one roof. Through its wholly owned subsidiary, Giken Mobility Ltd, GSS Energy will manufacture its flagship electric two-wheeler at its factory in Batam, Indonesia, under the &ldquo Iso&rdquo brand. Giken Mobility Ltd is currently the exclusive global licensee and manufacturer of the Italian heritage motorcycle brand &ldquo Iso&rdquo . The factory visit included an orientation of the manufacturing plant and a showcase of the electric two-wheelers and the range of other products produced in the facility. Enterprise Singapore has supported Giken Mobility Ltd through its Enterprise Development Grant for the research and development of the electric two-wheelers, as well as helped Giken Mobility Ltd access and expand into international markets. Mr. Sydney Yeung, Chief Executive Officer of GSS Energy, annotated: &ldquo We are delighted to host Minister Gan at our manufacturing facility in Batam, Indonesia. As the production of our first electric two-wheeler gets underway, we are more motivated than ever to realize our vision for the future of transportation to stay future-ready and strengthen our innovative capabilities.&rdquo
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SmallSmall
Supreme |
21-Oct-2022 09:01
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Singapore Minister for Trade and Industry, Mr. Gan Kim Yong, Visited GSS Energy&rsquo s Electric Two-wheeler Factory in Batam, Indonesia &bull Minister for Trade and Industry of Singapore, Mr. Gan Kim Yong, visited GSS Energy&rsquo s Electric Two-Wheeler Factory in Batam, Indonesia &bull With a factory area of 28,000 sqm, the Group&rsquo s factory in Batam, Indonesia, is GSS Energy&rsquo s flagship manufacturing facility, and will assemble and produce the Group&rsquo s Iso-branded electric two-wheelers &bull Enterprise Singapore has played a key role in helping the Group&rsquo s development of its electric two-wheeler and expansion into international markets. | ||
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checkmate
Member |
07-Sep-2022 16:06
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Yes, but GSS has nothing to do with the oil sector.
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ComeHuat
Member |
05-Sep-2022 12:42
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4-Sep-2022: Indonesia hikes fuel prices by up to 32% to rein in ballooning subsidieshttps://www.straitstimes.com/asia/se-asia/indonesia-hikes-fuel-prices-by-30-to-rein-in-ballooning-subsidiesDoes that means more profit from oil sector? |
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