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 [KESM INDUSTRIES BHD:由于内存市场低迷,加上美国和中国实施的关税增加的负面影响,以及全球经济的不确定性增加,预计2019年将出现放缓,半导体行业的广泛指数和全球增长指向疲软的势头]

这集团的收入较去年第二季的9150万令吉下降11%或1,040万令吉,至2019年1月31日止的本季度的8,110万令吉(「2QFY2019」)。这归因于对burn-in和测试服务的需求减少,而电子制造服务(“EMS”)向新客户提供的收入增加抵消了这一点。

其他收入减少78%或80万令吉,主要是由于卖掉机器零件的收益减少到30万令吉,没有政府补助金30万令吉。使用的原材料和消耗品以及成品库存和工作进度的变化增加了59%或530万令吉,从900万令吉增加到1440万令吉,以支持新客户增加的EMS收入。因此,这集团的税前利润减少87%或1,140万令吉,由1,300万令吉减少至二零一九年财政年度第二季度的160万令吉。

这集团的收入较去年同期的1.822亿令吉减少11%或1,950万令吉,至2019年1月31日止的当前财政期间的1.627亿令吉,主要原因是burn-in和测试服务需求减少。

其他收入减少88%或210万令吉,主要是由于缺少(i)交易投资证券的公允价值收益60万令吉; (ii)净汇兑收益RM20万(iii)政府拨款30万令吉; (iv)出售机器零件的收益减少到RM70万。使用的原材料和消耗品以及成品库存和在制品的变化增加了36%或610万令吉,从1700万令吉增加到2310万令吉,以支持新客户增加的EMS收入。因此,这集团的税前利润较上一季度的2650万令吉减少了79%或RM2100万令吉至RM540万。

物业,厂房及设备较2018年7月31日(「2018财政年度」)的2.11亿令吉下跌6%或1,350万令吉,至2019年1月31日的1.975亿令吉。 PPE的减少主要是由于折旧费用为3900万令吉,被资本支出为2470万令吉抵消。

在交付成品后,库存减少16%或150万令吉,从930万令吉减少到770万令吉。贸易及其他应收款项减少11%或870万令吉,由7,730万令吉减至6,870万令吉,主要由于2QFY2019收入减少导致应收贸易账款减少。持有的交易性投资证券在出售240万令吉的股权后,由960万令吉减少到680万令吉,减少29%或280万令吉。

这集团于二零一九财政年度第二季度实现税前利润160万令吉,而截至2018年10月31日止的上一季度则为380万令吉。税前利润减少220万令吉主要是由于净收入减少610万令吉;被员工福利开支减少340万令吉抵消。

前景:
据一家研究机构称,由于内存市场低迷,加上美国和中国实施的关税增加的负面影响,以及全球经济的不确定性增加,预计2019年将出现放缓。预计2019年全球经济将增长3.5%,比2018年下降0.2%。

半导体行业的广泛指数和全球增长指向疲软的势头。尽管由于客户采取更严格的库存控制措施导致业绩疲弱,但这集团仍能很好地适应短暂的市场疲软。
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James Ng Stock Pick Performance:
Since Recommended Return:

a) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.23 in 2 months 24 days, total return is 53.8%

b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.22 in 8 months 12 days, total return is 53.5%

c) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.79 in 1 month 19 days, total return is 37.4%

d) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.965 (dividend RM0.015) in 6 months 28 days, total return is 37.1%

e) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.26 in 2 months 18 days, total return is 30.6%

f) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.24 (dividend RM0.0375) in 4 months 26 days, total return is 20.5%

g) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.42 (dividend RM0.035) in 3 months 22 days, total return is 14.6%

h) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.965 in 2 months 14 day, total return is 13.5%

i) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.50 (dividends RM0.02) in 5 months 12 days, total return is 6.3%

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
时间:11a.m. – 7p.m

日期:4月21日星期日
地点:G Inn Hotel, George Town (Penang)

日期:4月28日星期日
地点:Silka Johor Bahru Hotel, Johor Bahru (包括免费点心,茶和咖啡)

日期:5月26日星期日
地点:Hotel Sri Petaling, KL (包括免费3份点心,茶和咖啡)

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://web.facebook.com/jamesshareinvest/posts/2214228515510557 找到公司和选股文章以及视频。

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

这个是我的TELEGRAM Group链接,大家可以在这个Group获知何时做Fb live: https://t.me/joinchat/LhwHNhdU1fDgxrSafTrTiw

这个分享纯属讨论以及领域的分析,买或卖自负。请Like和Share这个post。最终决定永远是你的,谢谢。

James Ng
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[KESM INDUSTRIES BHD: a slowdown in 2019 is expected, on the back of a downturn in the memory market, coupled with the negative effects of tariff increases enacted in the United States and China, and increasing uncertainty about the global economy, the broad indices of the semiconductor industry and the global growth are pointed towards a softening momentum]

The Group’s revenue was lower by 11% or RM10.4 million, from RM91.5 million in the preceding year’s second quarter, to RM81.1 million for the current quarter ended 31 January 2019 (“2QFY2019”). This was attributed to lower demand for burn-in and testing services, offset by higher revenue from rendering of electronic manufacturing service (“EMS”) to new customers.

Other income reduced by 78% or RM0.8 million, mainly due to lower gain on disposal of machinery spares of RM0.3 million and absence of government grant of RM0.3 million. Raw materials and consumables used and changes in inventories of finished goods and work-in progress increased by 59% or RM5.3 million, from RM9.0 million to RM14.4 million, to support the increased EMS revenue from new customers. Consequently, the Group’s profit before tax reduced by 87% or RM11.4 million, from RM13.0 million to RM1.6 million in 2QFY2019.

The Group’s revenue was lower by 11% or RM19.5 million, from RM182.2 million in the preceding year’s corresponding period to RM162.7 million for the current financial period ended 31 January 2019, largely as a result of lower demand for burn-in and testing services.

Other income was lower by 88% or RM2.1 million, mainly due to absences of (i) a fair value gain on investment securities held for trading of RM0.6 million; (ii) net exchange gain of RM0.2 million (iii) government grant of RM0.3 million; and (iv) lower gain on disposal of machinery spares by RM0.7 million. Raw materials and consumables used and changes in inventories of finished goods and work-in progress increased by 36% or RM6.1 million, from RM17.0 million to RM23.1 million, to support the increased EMS revenue from new customers. Consequently, the Group’s profit before tax was lower by 79% or RM21.0 million, from RM26.5 million to RM5.4 million in the reporting period under review.

Property, plant and equipment (“PPE”) was lower by 6% or RM13.5 million, from RM211.0 million as at 31 July 2018 (“FY2018”) to RM197.5 million as at 31 January 2019. The decrease in PPE was primarily due to depreciation charge of RM39.0 million, offset by capital expenditure of RM24.7 million.

Inventories reduced by 16% or RM1.5 million, from RM9.3 million to RM7.7 million, following delivery of finished goods. Trade and other receivables reduced by 11% or RM8.7 million, from RM77.3 million to RM68.7 million, mainly due to lower trade receivables as a result of lower revenue in 2QFY2019. Investment securities held for trading decreased by 29% or RM2.8 million, from RM9.6 million to RM6.8 million, following a disposal of quoted equity shares of RM2.4 million.

The Group achieved profit before tax of RM1.6 million for 2QFY2019, compared to RM3.8 million in the preceding quarter ended 31 October 2018. The decrease in profit before tax of RM2.2 million was mainly due to a reduction in net revenue of RM6.1 million; offset by a decrease in employee benefits expense of RM3.4 million.

Prospects:
According to a research house, a slowdown in 2019 is expected, on the back of a downturn in the memory market, coupled with the negative effects of tariff increases enacted in the United States and China, and increasing uncertainty about the global economy. The global economy for 2019 is projected to grow at 3.5%, representing 0.2% lower than 2018.

The broad indices of the semiconductor industry and the global growth are pointed towards a softening momentum. Despite the weaker performance due to tighter inventory control measures instituted by customers, the Group remains well positioned to weather through the momentary market softening.
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James Ng Stock Pick Performance:
Since Recommended Return:

a) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.23 in 2 months 24 days, total return is 53.8%

b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.22 in 8 months 12 days, total return is 53.5%

c) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.79 in 1 month 19 days, total return is 37.4%

d) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.965 (dividend RM0.015) in 6 months 28 days, total return is 37.1%

e) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.26 in 2 months 18 days, total return is 30.6%

f) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.24 (dividend RM0.0375) in 4 months 26 days, total return is 20.5%

g) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.42 (dividend RM0.035) in 3 months 22 days, total return is 14.6%

h) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.965 in 2 months 14 day, total return is 13.5%

i) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.50 (dividends RM0.02) in 5 months 12 days, total return is 6.3%

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://web.facebook.com/jamesshareinvest/posts/2214228515510557 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

This sharing is purely a discussion and analysis of the sector, buying or selling at your own risk. Please Like and Share this post. Final decision is always yours, thank you.

James Ng

https://klse.i3investor.com/blogs/general/197826.jsp
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