SERBADK (5279) 世霸动力 - [SERBA DINAMIK HOLDINGS BHD,收购公司为其产品作补充和扩展,并为他们提供进入新市场和地域市场的机会] - James的股票投资James Share Investing


 [SERBA DINAMIK HOLDINGS BHD,收购公司为其产品作补充和扩展,并为他们提供进入新市场和地域市场的机会]

截至2018年3月31日止的季度(“Q1FY18”),由于O&M和EPCC的强劲活动,世霸动力录得收入7.308亿令吉,较去年同期(「2017财年第1季度」)高19.3%。本季度的营业利润为1.302亿令吉,占总收入的17.8%。世霸动力的税前利润为9,650万令吉,较2017财年第1季度的税前利润8,120万令吉增加18.8%。

O&M在Q1FY18贡献了86.8%的收入,比2017财年第一季度增加了7950万令吉或14.3%。增加的原因是他们在中东地区和土库曼斯坦赢得了新合同使他们有较高的IRM活动,而MRO活动也显示出对2017财年第一季度的一些增长。该部门录得增加了的营业利润1.145亿令吉或毛利率18.0%,而2017财年第1季度则为17.7%。 EPCC收入总额为9,440万令吉,较2017财年第1季度增加3790万令吉,占世霸动力总收入的12.9%。

在地域分割方面,马来西亚仍然是东南亚最大的收入贡献者,在2018财年第一季度为2亿零70万令吉,占总收入的27.5%,与2017财年第一季度相比略有改善。中东地区仍然是该地区集团收入的最大贡献者。中东占该季度总收入的65.9%或RM4.813亿,比2017财年第一季度增加8,190万令吉。这一增长主要来自阿联酋由于增加的新合同以及卡塔尔的活动增加。中东地区的大部分收入来自运营和维护服务。他们的中亚地区也主要在土库曼斯坦增长,分别占该季度收入的6.1%,即4420万令吉。印度尼西亚占本季度总收入的0.6%或410万令吉,欧洲贡献了50万令吉来自他们在英国的两家子公司Quantum Offshore Limited和Serba Dinamik International Limited的收入。

前景:
由于大多数主要和新兴市场经济体的增长率接近2017年第三季度的表现,全球经济活动继续保持强劲增长。到2018年,预计增长仍将保持良好,国内需求继续保持增长,成为增长的关键驱动力。 2018年全球市场的持续增长也为此提供了支持。国际货币基金组织在其最近的报告中预测全球经济增长率为3.9%,2018年和2019年均增长0.2%。

在石油和天然气方面,油价一直在增长势头,布伦特原油价格在2018年5月7日的交易价格为75.49美元/桶。委内瑞拉经济危机加剧推动了这一增长,并假设美国将重新征收对伊朗的制裁。

由于2018年的前景乐观,预计集团将随着国内和国际市场的整体增长而增长。世霸动力最近收购的公司是这集团有意发展业务及为其现有业务营运增值的一部分。收购的公司是其产品的补充或扩展,并为他们提供进入新市场和地域市场的机会。

收购Al-Sagar Engineering Group LLC(「Al-Sagar」)49%股权将使世霸动力能够利用这公司现有的石油及天然气行业许可证,巩固其在阿联酋的立足点(包括水和公用事业部门)。它还使集团能够进入位于阿联酋阿布扎比Mussafah的公司现有设施,该设施专门用于泵性能测试。

收购新加坡交易所(SGX)上市公司CSE Global Limited(「CSE」)24.8%股权将为世霸动力带来即时收入来源及扩大其地域覆盖范围。 CSE是一个完整的综合工业自动化,电信和环境解决方案主要为石油和天然气部门以及采矿和基础设施行业提供解决方案。该公司在全球17个国家开展业务,特别是在集团目前正在关注的国家,即美国,澳大利亚和新西兰。这将使世霸动力能够通过与公司的合作扩展其在新领域的业务,并追求他们成为全球综合工程服务提供商的愿景。
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我希望将我的策略分享给读者,希望他们在阅读后能够表现出色。我正在使用基本面分析(Fundamental Analysis):

预计公司每年的增长率必须> 14%

我想说服读者学习基本面分析FA以便能从股市赚钱。

我为想从马来西亚股票市场赚钱的读者提供STOCK PICK服务。想订阅我的邮件以从股票市场获取良好回报的人,可以通过 jamesngshare@gmail.com 或我的FB页面 https://web.facebook.com/jamesshareinvest/ 与我联系

最终决定永远是你的,谢谢。

James Ng
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For the quarter ended 31 March 2018 (“Q1FY18”), the Group recorded revenue of RM730.8 million which was 19.3% higher than corresponding quarter of the preceding year (“Q1FY17”) due to strong activities from both O&M and EPCC. The operating profit for the quarter stood at RM130.2 million or 17.8% of total revenue. The Group also recorded profit before taxation of RM96.5 million, 18.8% higher as compared to profit before taxation of RM81.2 million in Q1FY17.

O&M contribute 86.8% of revenue in Q1FY18 with an increase of RM79.5 million or 14.3% against Q1FY17. The increase was due to higher activity from their IRM activity in Middle East region as well as in Turkmenistan from new contract won while MRO activity also show some increase against Q1FY17. The segment recorded an improved operating profit of RM114.5 million or representing gross margin of 18.0% as compared to 17.7% in Q1FY17. EPCC revenue recorded a total of RM94.4 million, higher by RM37.9 million against Q1FY17 and contributed 12.9% of the total revenue of the Group.

On geographical segmentation, Malaysia remained as the biggest revenue contributor by SEA recording a total of RM200.7 million for Q1FY18 or 27.5% of total revenue recording some slight improvement against Q1FY17. The Middle East region continue to be the highest contributor of revenue for the group on a regional level. Middle East contributed 65.9% of the overall revenue for the quarter or RM481.3 million, an increase of RM81.9 million against Q1FY17. The increase mainly from higher activity in UAE from additional new contracts as well as Qatar due to higher call up activity. The Majority of the revenue from Middle East region is from O&M services. Their Central Asia region also showing a growth mainly in Turkmenistan which contributed 6.1%, of revenue for the quarter respectively, or RM44.2 million. Indonesia contributed 0.6% of total revenue for the quarter or RM4.1 million and Europe contributed RM0.5 million of revenue from their two subsidiaries in United Kingdom namely Quantum Offshore Limited and Serba Dinamik International Limited.

Prospects:
Global economic activity continued to expand at a strong pace as most major and emerging market economies registered growth rates which are close to the performance seen in the third quarter of 2017. For 2018, growth is expected to remain favourable with domestic demand continuing to be the key driver of growth. This is also supported by continuing growth in the global market expected in 2018. IMF in their recent report are forecasting global growth to be at 3.9%, an increase of 0.2% for both 2018 and 2019.

On the Oil and Gas front, oil prices have been gaining momentum with the Brent Crude price are traded at USD75.49/bbl as at 7 May 2018. The increase was pushed up by a deepening economic crisis in Venezuela and assumption that United States will re-impose sanctions against Iran.

With the positive outlook for 2018, the Group is expected to grow in tandem with the overall growth of the market domestically as well as internationally. The Group recent acquisitions of companies are part of the Group intention to grow the business and adding value to their existing business operations. The companies acquired are complement or expansion of their product offerings as well as provide them with access into new segments and geographical market.

The acquisition of 49% stake in Al-Sagar Engineering Group LLC (“Al-Sagar”) would enable the Group to firm-up their foothold in UAE by utilising the existing licenses available by the Company in both Oil & Gas sector as well as in Water & Utilities sector in UAE. It also enables the Group to gain access to the existing facility of the company in Mussafah, Abu Dhabi, UAE which specialised Pump Performance Testing.

The acquisition of 24.8% equity stake in CSE Global Limited (“CSE”), a company listed in Singapore Exchange (SGX) would provide the Group with an immediate stream of income as well as expanding their geographical footprint. CSE is a total integrated industrial automation, telecommunications and environmental solution mainly providing solution in oil & gas sector as well as in mining and infrastructure industries. The Company operates in 17 countries across the globe especially in countries which the Group are currently eyeing namely USA, Australia and New Zealand. This would enable the Group to expand their business in new territory through collaborations with the Company and pursue their vision to be a Global Integrated Engineering Service Provider.
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I wish to share my strategy to readers, hope that they can perform well after reading this. I am using Fundamental Analysis:



the forecasted growth of a company must > 14% per year

I wish to convince readers to learn FA in order to make money from stock market.

I am providing STOCK PICK SERVICE for readers who want to make money from Malaysian stock market. Those who want to subscribe to my mailing list to achieve a good return from stock market, you can contact me at jamesngshare@gmail.com or PM me in my FB page https://web.facebook.com/jamesshareinvest/

Final decision is always yours, thank you.

James Ng

https://www.facebook.com/jamesshareinvest/posts/2075236659409744