FGV (5222) 土展创投 - [FELDA GLOBAL VENTURES HOLDINGS BHD:看跌的CPO价格,运营效率低下以及投资的未实现回报] - James的股票投资James Share Investing


 [FELDA GLOBAL VENTURES HOLDINGS BHD:看跌的CPO价格,运营效率低下以及投资的未实现回报]

截至2018年6月30日止财政期间,这集团的收入较去年同期减少17.5%至70.4亿令吉,而这集团于今年的税前利润为2747万令吉,而去年同期则为7018万令吉,主要归因于种植业部门取得的较弱成果。

(a)种植业:
种植业在2018年6月30日结束的财政期间的利润较低,为1177万令吉,而上一财政年度的利润为2.0723亿令吉,主要受到平均毛棕榈油价格较低每公吨2,447令吉的影响(2017年每公吨2916令吉)。由于利润率较低以及化肥业务销售量减少,内核粉碎和研发业务的业绩也较低。合资企业的业绩份额下降进一步削弱了该部门的业绩。

(b)糖业:
与去年相比,糖销量下降部分抵消了利润的增长。

(c)LSB部门:
LSB部门的利润增长至5674万令吉,而去年则亏损3,958万令吉。

与上一季度相比,集团收入下降4.6%至34.4亿令吉。就本季度而言,这集团税前和zakat前利润较低,为125万令吉,而上一季度的利润为2,622万令吉,主要是由于本季度种植业的贡献减少。

(a)种植业:
种植业部门本季度亏损653万令吉,而上一季度的盈利为1,829万令吉,因为平均毛棕榈油价格实现小幅下跌2.1%,由每吨2,472令吉减少至本季度每吨2,419令吉及CPO销量下降8.1%,生产成本上升。

(b)糖业:
尽管销量由于本季度有节日季节而较高,但平均糖销售价格的下降部分抵消了利润。

(c)LSB部门:
与上一季度相比,运输和散货业务表现较低,部分抵消了利润增长。

前景:
考虑到看跌的CPO价格前景,运营效率低下以及投资的未实现回报,董事会预计FGV将迎来充满挑战的一年。
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James Ng Stock Pick Performance:
Since Recommended Return:

1) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.92 in 26 days, total return is 28.7%

2) Gtronic (GLOBETRONICS TECHNOLOGY BHD), recommended on 8 Jul 18, initial price was RM2.17, rose to RM2.60 in 2 months, total return is 19.8%

3) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.875 in 2 month 6 days, total return is 10.1%

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

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日期:10月14日星期日
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日期:10月21日星期日
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日期:10月28日星期日
地点:Johor Bahru

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James Ng
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[FELDA GLOBAL VENTURES HOLDINGS BHD: bearish CPO price outlook, operational inefficiencies and unrealised returns from investments]

The Group’s revenue declined by 17.5% to RM7.04 billion for the financial period ended 30 June 2018 compared to previous year while the Group recorded a lower profit before zakat and taxation of RM27.47 million against RM70.18 million in the corresponding period in previous year mainly attributable to the weaker results achieved by Plantation Sector.

(a) Plantation Sector:
Plantation Sector registered a lower profit of RM11.77 million for the financial period ended 30 June 2018 compared to a profit of RM207.23 million in previous financial year, mainly pressured by the lower average CPO price realised of RM2,447 per mt against RM2,916 per mt in 2017. Lower result was also reported in kernel crushing and R&D business due to lower margin achieved coupled with reduction in sales volume for fertiliser business. The Sector’s performance was further eroded by decrease in share of results from joint venture.

(b) Sugar Sector:
The increase in profit was partially offsetted by the decrease in sugar sales volume compared to previous year.

(c) LSB Sector:
The results in LSB Sector improved to a profit of RM56.74 million compared to a loss of RM39.58 million registered in previous year.

Group revenue reported a decrease by 4.6% to RM3.44 billion compared to preceding quarter. For the current quarter under review, the Group posted a lower profit before zakat and taxation of RM1.25 million against RM26.22 million profits in preceding quarter mainly due to lower contribution from Plantation Sector in current quarter.

(a) Plantation Sector:
The Plantation Sector incurred a loss of RM6.53 million in current quarter compared to RM18.29 million profit in preceding quarter as average CPO price realised edged down by 2.1% from RM2,472 per mt to RM2,419 per mt in current quarter and compounded by 8.1% lower CPO sales volume and higher production cost.

(b) Sugar Sector:
The profit was partially offset by the drop in average sugar selling prices despite higher sales volume in tandem with festive season in current quarter.

(c) LSB Sector:
The increase in profit was partially offset with lower performance in transport and bulking operations compared to preceding quarter.

Prospects:
The Board anticipates a challenging year for FGV given the bearish CPO price outlook, operational inefficiencies and unrealised returns from investments.
------------------------------------------------
James Ng Stock Pick Performance:
Since Recommended Return:

1) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.92 in 26 days, total return is 28.7%

2) Gtronic (GLOBETRONICS TECHNOLOGY BHD), recommended on 8 Jul 18, initial price was RM2.17, rose to RM2.60 in 2 months, total return is 19.8%

3) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.875 in 2 month 6 days, total return is 10.1%

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/



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James的股票投资James Share Investing Blog: https://klse.i3investor.com/blogs/general/

James的股票投资James Share Investing Blog Index: https://klse.i3investor.com/blogs/general/blidx.jsp

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Final decision is always yours, thank you.

James Ng

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