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[FELDA GLOBAL VENTURES HOLDINGS BHD:2018年的毛棕榈油价格走势受到波动的影响,第三季度出现下滑,前景看跌,预计价格下行趋势将持续到明年初]

截至2018年9月30日止财政期间的集团收入较去年同期下跌19.2%至102.3亿令吉,而FGV控股于zakat及税项之前产生重大亏损8.8367亿令吉,而上一年的相应期间盈利则为1.8826亿令吉。这主要是由于种植业部门遭受的损失主要归因于平均毛棕榈油价格下降以及无形资产,物业,厂房及设备及应收款项减值亏损7.98亿令吉。

(a)种植业:
种植业部门在截至2018年9月30日的财政期间损失了8.3802亿令吉,而去年同期的利润为3.3961亿令吉。在运营方面,该部门受到平均毛棕榈油价格下跌的显着影响,2018年平均毛棕榈油价格从每公吨2,820令吉下降至每公吨2,371令吉,研发和内核破碎和炼油业务的利润率较低,加上化肥业务的销售量下降。

2018年FFB产量略微减少0.4%至306万公吨,而产量则持平于每公顷11.13公吨。该行业的表现进一步受到无形资产减值5.618亿令吉,物业,厂房及设备减值达1.238亿令吉以及上游及下游部门合营企业亏损份额进一步削弱的影响。

(b)糖业:
截至2018年9月30日止财政期间,糖业从去年的2596万令吉亏损改善至7147万令吉盈利。

(c)LSB部门:
LSB Sector的业绩改善至利润2,514万令吉,而去年则录得亏损4,094万令吉,主要是由于物流业务的处理率提高及支援业务提供的保安服务率上升所致。

与上一季度相比,集团收入下降7.1%至31.9亿令吉。FGV控股于本季度的zakat及税项之前产生重大亏损9.1115亿令吉,主要归因于种植业部门的亏损,这与平均毛棕榈油价格较低及合营企业亏损的较高比例有关。此外,FGV控股于本季度的合营企业无形资产,物业,厂房及设备,应收款项及应收款项减值达7.88亿令吉。

(a)种植业:
种植业部门本季度的亏损额高达8.4979亿令吉,而上一季度为亏损653万令吉。在运营方面,这主要归因于平均每公顷CPO价格每吨2,224令吉,相比较上一季度每吨2,419令吉,尽管毛棕榈油销量小幅上升7.4%。

该部门的业绩进一步受到减值损失的拖累,主要是无形资产,房地产,厂房和设备分别达到5.618亿令吉和1.238亿令吉,合资公司本季度损失的比例高达6,115万令吉,与上一季度收取的LLA的公允价值收费2824万令吉相比,这季高达1.0232亿令吉。

(b)糖业:
由于平均销售价格下降以及销售量较前一季度(与节日季节同步)减少10%,糖业务的利润下降22.7%至2156万令吉。

(c)LSB部门:
LSB Sector的亏损为3,161万令吉,而上一季度的利润为3139万令吉,主要是由于本季度确认的应收账款减值5480万令吉以及商品营销业务下销售的吨位较低。

前景:
2018年的毛棕榈油价格走势受到波动的影响,第三季度出现下滑。前景看跌,预计价格下行趋势将持续到明年初。毛棕榈油价格将对FGV控股的表现产生重大影响。
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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 RM0.825 in 3 months 22 day, total return is 15.4%

2) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.11 in 1 month 20 days, total return is 11.6%

3) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.88 in 5 months 3 days, total return is 10.7%

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:12月16日星期日
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日期:12月23日星期日
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日期:1月27日星期日
地点:Tropical Inn, Johor Bahru (包括茶点)

有兴趣的朋友,可以电邮或PM FB page联络我
email:jamesngshare@gmail.com
电话/Whatsapp : 011 - 15852043

为了方便大家查询我写过的公司和选股文章以及视频,制作了索引。大家只要依照日期,就能从这 https://klse.i3investor.com/blogs/general/184178.jsp 找到公司和选股文章以及视频。

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最终决定永远是你的,谢谢。

James Ng
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[FELDA GLOBAL VENTURES HOLDINGS BHD: the CPO price trend in 2018 has been subject to fluctuations with a decline in the 3rd quarter, the outlook is bearish and the downward price trend is expected to continue into the early part of next year]

Group revenue for the financial period ended 30 September 2018 declined by 19.2% to RM10.23 billion from a year earlier while the Group incurred a significant loss before zakat and taxation of RM883.67 million compared to a profit of RM188.26 million in the corresponding period in previous year. This was largely due to loss suffered in Plantation Sector mainly attributed to lower average CPO price realised and impairment losses of intangible assets, property, plant and equipment and receivables of RM798 million.

(a) Plantation Sector:
Plantation Sector incurred a loss of RM838.02 million for the financial period ended 30 September 2018 compared to a profit of RM339.61 million from a year ago. Operationally, the Sector was significantly affected by the drop in average CPO price realised from RM2,820 per mt to RM2,371 per mt in 2018, weak margins in R&D and kernel crushing and refining business coupled with lower sales volume in fertilizer business.

FFB production weakened marginally by 0.4% to 3.06 million mt in 2018 while yield remain flat at 11.13 mt per hectare. The Sector’s performance was further eroded by impairment of intangible assets of RM561.8 million, impairment of property, plant and equipment amounting to RM123.8 million and higher share of loss from joint ventures in both upstream and downstream segments.

(b) Sugar Sector:
Sugar Sector registered an improvement from a loss of RM25.96 million in previous year to a profit of RM71.47 million for the financial period ended 30 September 2018.

(c) LSB Sector:
The results in LSB Sector improved to a profit of RM25.14 million compared to a loss of RM40.94 million registered in previous year mainly attributable to higher handling rate in Logistic business and increase in rate of security services provided by Support business.

Group revenue was lower by 7.1% to RM3.19 billion compared to preceding quarter. The Group incurred a significant loss before zakat and taxation of RM911.15 million for the current quarter under review mainly attributed to losses incurred in Plantation Sector which was associated with lower average CPO price realized and higher share of loss from joint ventures. In addition, the Group registered impairment of intangible assets, property, plant and equipment, receivables and amount due from joint venture in current quarter amounting to RM788 million.

(a) Plantation Sector:
The Plantation Sector incurred a higher loss of RM849.79 million in current quarter compared to RM6.53 million loss in preceding quarter. Operationally, this was mainly attributed to the lower average CPO price realised of RM2,224 per mt compared to RM2,419 per mt in preceding quarter although CPO sales volume inched up by 7.4%.

The Sector’s result was further dragged down by impairment losses mainly on intangible assets, property, plant and equipment amounting to RM561.8 million and RM123.8 million respectively, higher share of losses from joint ventures companies in current quarter amounting to RM61.15 million and higher fair value charge in LLA of RM102.32 million compared to RM28.24 million charged in preceding quarter.

(b) Sugar Sector:
Sugar Sector’s profit was down by 22.7% to RM21.56 million due to lower revenue achieved as a result of decrease in average selling prices coupled with 10% lower sales volume as compared to preceding quarter which was in tandem with festive season.

(c) LSB Sector:
LSB Sector registered a loss of RM31.61 million compared to RM31.39 million profits in preceding quarter mainly due to impairment on receivables amounting to RM54.8 million recognised in current quarter and lower tonnage sold under commodities marketing business.

Prospects:
The CPO price trend in 2018 has been subject to fluctuations with a decline in the 3rd quarter. The outlook is bearish and the downward price trend is expected to continue into the early part of next year. The CPO price will have a major impact on the Group’s performance.
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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 RM0.825 in 3 months 22 day, total return is 15.4%

2) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.11 in 1 month 20 days, total return is 11.6%

3) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.88 in 5 months 3 days, total return is 10.7%

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/184178.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/blogs/general/185331.jsp
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