IJM (3336) 怡保工程 - [IJM CORP BHD:建筑部门有88亿令吉的优秀订单,物业发展部门未记账的销售额约为20亿令吉] - James的股票投资James Share Investing


 [IJM CORP BHD:建筑部门有88亿令吉的优秀订单,物业发展部门未记账的销售额约为20亿令吉]

施工:
税前利润从去年同期的5610万令吉减少至本季度的3970万令吉主要是由于未实现的外汇损失增加。

物业发展:
在本季度工作进度较高和部分项目完成后,该部门的收入同比增长14.0%。增加的收入以及来自当前的更高利润率(正在进行的项目)促成了本季度税前利润的增长。

制造和采石:
本季度收入和税前利润分别比去年同期下降15.8%和41.3%,主要是由于销售量和采石业的利润率下降。

种植:
本季度的税前亏损为2630万令吉(相比之前一年相应季度的税前利润为1,630万令吉),主要是由于未实现的外汇净亏损为3,090万令吉(本季度以美元计价的借款),与去年同期相比仅为80万令吉,以及与上一年同期相比的关闭库存水平下降,价值为当前较低的棕榈价格导致EBITDA有2,460万令吉的影响。

基础设施:
该部门本季度的税前利润从去年同期的6460万令吉降至2490万令吉。

尽管种植业部门的关闭库存水平显着下降,而当前较低的棕榈价格导致EBITDA有5060万令吉的影响,但与前一季度相比,怡保工程的税前利润增加了2560万令吉(或32.9%),主要是由于怡保工程的房地产和基础设施部门的贡献增加以及联营公司和合资企业的贡献增加。

前景:
集团建筑部门预计会持续增长,基于实施正在进行的国内项目的基础上和88亿令吉的优秀订单。尽管消费者情绪有所改善,但预计本地房地产市场仍将充满挑战。鉴于其物业的战略位置及其已建立的品牌溢价,物业发展部门仍致力于发展业务。由于未记账的销售额约为20亿令吉,该部门预计将在本财政年度保持令人满意的业绩。尽管国内外的经营环境充满挑战,但集团的工业部门预计会有合理表现,基于其订单的量和同时加强其提高营运利润的努力。

随着现有收费特许权的成熟,怡保工程的收费及港口业务继续提供经常性收入来源,从而进一步提升怡保工程基础设施部门的盈利。尽管业务环境不断变化,怡保工程预期基于上述因素可在本财政年度取得合理表现。
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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 RM0.915 in 1 month 26 day, total return is 28%

2) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.91 in 3 months 7 day, total return is 14.5%

3) Gtronic (GLOBETRONICS TECHNOLOGY BHD), recommended on 8 Jul 18, initial price was RM2.17, rose to RM2.44 in 3 months, total return is 12.4%

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

【看懂年报和季报】课程
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日期:11月25日星期日
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有兴趣的朋友,可以电邮或PM FB page联络我
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James Ng
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[IJM CORP BHD: Construction division has an outstanding order book of RM8.8 billion, Property Development division has unbilled sales of about RM2.0 billion]

Construction:
The decrease in pre-tax profit from RM56.1 million in the previous year’s corresponding quarter to RM39.7 million in the current quarter was mainly due to the increase in unrealised foreign exchange losses.

Property development:
The Division recorded a 14.0% revenue growth over the previous year’s corresponding quarter following higher work progress and completion of some projects in the current quarter. The increased revenue together with the higher profit margin derived from current ongoing projects have contributed to the increase in pre-tax profits for the current quarter.

Manufacturing and quarrying:
Current quarter revenue and pre-tax profit decreased by 15.8% and 41.3% respectively compared to the previous year’s corresponding quarter mainly due to lower sales volumes and margins in the piles and quarrying sectors.

Plantation:
The current quarter’s pre-tax loss of RM26.3 million (as compared to a pre-tax profit of RM16.3 million in the previous year’s corresponding quarter) was largely attributable to the net unrealised foreign exchange losses of RM30.9 million on the US Dollar denominated borrowings for the current quarter, as compared to only RM0.8 million in the preceding year’s corresponding quarter and by a decline in closing inventory levels as compared to the corresponding quarter of the previous year, valued at the prevailing lower palm produce prices resulting in an impact to EBITDA of RM24.6 million.

Infrastructure:
The Division’s pre-tax profit for the current quarter decreased to RM24.9 million from RM64.6 million recorded in the previous year’s corresponding quarter.

Despite the Plantation division having a significant decline in closing inventory levels valued at the prevailing lower palm produce prices resulting in an impact to EBITDA of RM50.6 million, the Group’s pre-tax profit increased by RM25.6 million (or 32.9%) compared to that of the immediate preceding quarter mainly due to higher contributions from the Group’s Property and Infrastructure divisions as well as improved contributions from associates and joint ventures.

Prospects:
The Group’s Construction division expects continuous growth based on an outstanding order book of RM8.8 billion, underpinned by the implementation of on-going domestic projects. The local property market is expected to remain challenging despite improving consumer sentiments. The Property Development division remains steadfast in its efforts to grow its business in view of the strategic locations of its properties and the brand premium that it has established. With unbilled sales of about RM2.0 billion, the division is expected to maintain a satisfactory performance in the current financial year. Despite a challenging operating environment both domestically and overseas, the Group’s Industry division expects a reasonable performance based on its order book position whilst intensifying its efforts to improve operating margins.

The Group’s toll and port operations continue to provide recurrent revenue streams as existing toll concessions mature thereby further enhancing the earnings of the Group’s Infrastructure division. Despite the constantly changing business environment, the Group expects a reasonable performance for the current financial year based on the above stated factors.
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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 RM0.915 in 1 month 26 day, total return is 28%

2) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.91 in 3 months 7 day, total return is 14.5%

3) Gtronic (GLOBETRONICS TECHNOLOGY BHD), recommended on 8 Jul 18, initial price was RM2.17, rose to RM2.44 in 3 months, total return is 12.4%

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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Final decision is always yours, thank you.

James Ng

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