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 [CRESCENDO CORP BHD:预计2019财年的房地产开发环境仍将在全行业面临挑战]

尽管吉星截至2018年7月31日止本季度及截至2019年1月31日止财政年度上半年的收入分别较上一财政年度的相应期间增加800万令吉及1,460万令吉,但吉星的税前利润(“PBT”)本季度和2019财年上半年分别比上一财政年度同期下降750万令吉和900万令吉,主要原因是经济适用房销售额较多但是利润率较低。

物业发展及建设业务:
在2019财政年度的当前季度和上半年,尽管收入分别增长了11%和9%,但营业利润分别下降了30%和31%,主要原因是经济适用房销售额增加,利润率较低。

制造和贸易业务:
本季度利润率下降主要是由于房地产开发活动放缓导致混凝土产品市场竞争激烈。

物业投资业务:
对于当前季度和2019财政年度的上半年,收入增长主要来自于期内额外租用的物业。

教育,管理服务和其他:
在2019财政年度的当前季度和上半年,收入和营业利润的增长主要是由于国际学校学生人数的增加。

本季度,吉星的收入和税前利润分别比上一季度增加4,050万令吉和1220万令吉,主要是由于中端市场有地住宅物业的销售增加。

前景:
尽管预计2019财年的房地产开发环境仍将在全行业面临挑战,但预计具有良好可达性和连通性的战略增长区域的地产需求仍将具有弹性。截至2018年7月31日止六个月,吉星已在Taman Perindustrian Cemerlang推出17个单位的terrace factories,24个单位的店铺办公室,102个中价市场有地住宅物业单位及204个Bandar Cemerlang经济适用房。

集团计划在Taman Perindustrian Cemerlang推出23个独立式,半独立式和集群式工厂,以及在Tanjung Senibong推出222套经济适用房。由于物业发展业务于2018年9月21日的未开单销售额为2.135亿令吉,董事会预期吉星于截至2019年1月31日止财政年度的表现仍然令人满意。
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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 RM0.86 in 2 months 28 days, total return is 20.3%

2) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.885 in 4 months 8 days, total return is 11.3%

3) GTRONIC (GLOBETRONICS TECHNOLOGY BHD), recommended on 8 Jul 18, initial price was RM2.17, rose to RM2.28 in 4 months 1 day, total return is 5.1%

4) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM1.98 in 28 days, total return is 4.8%

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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最终决定永远是你的,谢谢。

James Ng
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[CRESCENDO CORP BHD: property development environment for financial year 2019 is expected to remain challenging industry-wide]

Despite the Group's revenue for the current quarter ended 31 July 2018 and the first half of financial year ending 31 January 2019 increased RM8.0 million and RM14.6 million respectively as compared to the corresponding periods in last financial year, the Group's profit before tax ("PBT") for the current quarter and the first half of financial year 2019 declined RM7.5 million and RM9.0 million respectively as compared to the corresponding periods of last financial year mainly due to higher sales of affordable housing which has a lower profit margin.

Property development and construction operation:
For the current quarter and the first half of financial year 2019, despite the increase in revenue of 11% and 9% respectively, the operating profit decreased 30% and 31% respectively mainly due to higher sales of affordable housing which has a lower profit margin.

Manufacturing and trading operation:
For the current quarter, the drop in profit margin was mainly due to slowdown on property development activity which lead to stiff market competition for concrete products.

Property investment operation:
For the current quarter and the first half of financial year 2019, the increases in revenue were mainly contributed by the additional properties rented during the periods.

Education, management services and others:
For the current quarter and the first half of financial year 2019, the increases in revenue and operating profit were mainly contributed by increase in students number of the international school.

For the current quarter, the Group's revenue and profit before tax increased RM40.5 million and RM12.2 million respectively as compared to the preceding quarter mainly due to higher sales of mid market landed residential properties.

Prospects:
Even though the property development environment for financial year 2019 is expected to remain challenging industry-wide, the demand for landed properties in strategic growth areas with good accessibility and connectivity is expected to remain resilient. During the six months ended 31 July 2018, the Group has launched 17 units of terrace factories at Taman Perindustrian Cemerlang, 24 units of shop offices, 102 units of mid market landed residential properties and 204 units of affordable housing at Bandar Cemerlang.

The Group is planning to launch 23 units of detached, semi-detached and cluster factories at Taman Perindustrian Cemerlang as well as 222 units of affordable housing at Tanjung Senibong. With the unbilled sales of RM213.5 million as at 21 September 2018 for the property development operation, the Board expects the performance of the Group to remain satisfactory for the financial year ending 31 January 2019.
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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 RM0.86 in 2 months 28 day, total return is 20.3%

2) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.885 in 4 months 8 day, total return is 11.3%

3) GTRONIC (GLOBETRONICS TECHNOLOGY BHD), recommended on 8 Jul 18, initial price was RM2.17, rose to RM2.28 in 4 months 1 day, total return is 5.1%

4) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM1.98 in 28 days, total return is 4.8%

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/



In order to facilitate the query of the company and stock picking articles and videos I have written, an index has been produced. Everyone can find company and stock picking articles and videos from https://klse.i3investor.com/blogs/general/181439.jsp by date.

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

Facebook Group: https://www.facebook.com/groups/jamesinvesting

If you want to join my WhatsApp group (there will be no James Ng's stock pick inside), please PM or email me your handphone number.

Final decision is always yours, thank you.

James Ng

https://klse.i3investor.com/m/blog/general/181855.jsp
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