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 [MALAYSIAN RESOURCES CORP BHD:1060 Carnegie在澳大利亚墨尔本的购买率为79%,而Sentral Suites的1号和3号楼的合计购买率为74%,而Kalista Park Homes有63%]

截至二零一八年十二月三十一日止财政年度,马资源分别录得19亿令吉及1.23亿令吉的收入及税前溢利,而截至2017年12月31日止上一财政年度则在持续的业务下分别录得26亿令吉及2.692亿令吉。

2018年收入与2017年同期相比下降29.4%是由于在2017年7月完成的武吉加里尔吉隆坡体育城再生和重建,导致收入缺少11亿令吉,相当于2017年MRCB总收入的41百分比。Eastern Dispersal Link(“EDL”)高速公路的收费收入于2018年1月1日停止,在2018年被重新分类为已终止运营,因此在年内没有收入。

由于LRT 3项目被政府重新定义为固定价格合同,税前利润下降54.0%,导致该项目的收入确认延期和重新计时,从2018财年下半年到2019财年或更远。因此,马资源拥有50%权益的LRT 3项目合资公司MRCB George Kent Sdn Bhd的税后利润为1,460万令吉,而2017年同期则为1520万令吉。这远低于之前的政府预算,因为与政府重新谈判合同条款所花费的时间而推迟进度付款。

(i)物业发展及投资:
截至2018年12月31日止年度,物业发展及投资部门录得更高的收入为10.43亿令吉。

(ii)工程,建筑及环境:
工程,建筑及环境部门于二零一八年录得收入为7.586亿令吉,而截至二零一七年十二月三十一日止上一财政年度则为17.739亿令吉。尽管收入下跌57.2%,原因是缺乏建筑收入(2017年7月完成的国家体育中心项目的重建),截至2018年12月31日止财政年度的营业利润仅下降39.3%至5,620万令吉。

集团拥有50%权益的LRT 3项目合资公司MRCB George Kent Sdn Bhd的税后利润较低为1,460万令吉,而2017年同期则为1520万令吉。这远低于预算,因为与政府从PDP到固定价格制度的重新谈判合同条款所花费的时间,推迟了进度账单。

截至2018年12月31日止季度,马资源录得收入及税前利润分别为3亿7410万令吉及770万令吉,而截止2018年9月30日上一季度的收入为6.638亿令吉及税前利润为4,110万令吉。

前景:
(i)物业发展及投资:
在集团目前正在开发的住宅项目中,1060 Carnegie在澳大利亚墨尔本的购买率为79%,而Sentral Suites的1号和3号楼的合计购买率为74%,而Kalista Park Homes有63% 。该部门将继续将其营销工作重点放在其住宅开发项目上,即KL Sentral的Sentral Suites(GDV:15.29亿令吉),墨尔本的1060 Carnegie(GDV:3.05亿令吉)和Bukit Rahman Putra的Kalista Park Homes(GDV:1.01亿令吉),以及Sentral Residences和在9 Seputeh的VIVO(其历史上销售强劲)的剩余未售出单位。

物业发展及投资部门的收入及营运利润将继续根据2019年VIVO(9 Seputeh)及PJ Sentral Garden City出售的2座en-bloc office towers的建设进度而逐步确认。 Sentral Suites将继续提供收入和营业利润,直到2021年实际完工,而TRIA应该在今年开始提供贡献。在墨尔本,1060 Carnegie 只会在实际完工和单位移交给买家的情况下为2020年的收入和营业利润做出贡献。

整体而言,马资源于其物业发展及投资部门的累计未开单销售总额预计将在其项目的开发生命周期内收取15.63亿令吉的收入,其中约87%为住宅及13%是商业。凭借拥有282英亩的城市土地,集团拥有可持续的未来项目,总GDV为310亿令吉。该部门还从KL Sentral CBD和Shah Alam的剩余投资物业及其在MQ REIT的27.94%股权中获得相对稳定的经常性收入来源。

(ii)工程,建筑及环境:
该部门目前的公开招标价值为29.31亿令吉,并且更加重视寻求基础设施和长期收费管理项目。截至2018年12月31日,外部客户订单总额达到226亿令吉,是业内最高的。截至2018年12月31日,未开单的订单总额为215亿令吉。
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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 RM1.31 in 3 months 11 days, total return is 63.8%

b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.23 in 8 months 26 days, total return is 54.7%

c) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.95 (dividend RM0.015) in 7 months 15 days, total return is 35%

d) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.27 in 3 months 4 days, total return is 31.6%

e) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.75 in 2 months 7 days, total return is 30.4%

f) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.29 (dividend RM0.0375) in 5 months 13 days, total return is 23.1%

g) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.62 (dividends RM0.02) in 5 months 26 days, total return is 14.7%

h) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.97 in 2 months 28 day, total return is 14.1%

i) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.39 (dividend RM0.035) in 4 months 9 days, total return is 12.2%

j) HSSEB (HSS ENGINEERS BHD), recommended on 20 Jan 19, initial price was RM1.04, rose to RM1.16 in 2 months 7 days, total return is 11.5%

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:4月21日星期日
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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/2224010674532341 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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[MALAYSIAN RESOURCES CORP BHD: 1060 Carnegie in Melbourne, Australia has achieved a take up rate of 79%, while Towers 1 and 3 of Sentral Suites have achieved combined take up rates of 74%, and Kalista Park Homes of 63%]

The Group recorded revenue and profit before tax of RM1.9 billion and RM123.0 million respectively for the financial year ended 31 December 2018, compared to RM2.6 billion and RM269.2 million respectively recorded in the preceding financial year ended 31 December 2017 under the continuing operations.

The 29.4% decline in Revenue in 2018 compared to the corresponding period in 2017 was due to the absence of RM1.1 billion of revenue from the regeneration and redevelopment of the KL Sports City in Bukit Jalil that was completed in July 2017, which represented 41% of MRCB’s total Revenue in 2017. The toll collection revenue from the Eastern Dispersal Link (“EDL”) Expressway, which was discontinued on 1 January 2018, was reclassified as a discontinued operation in 2018, and consequently contributed no revenue during the year.

Profit Before Tax fell 54.0%, impacted by the LRT 3 project being re-modelled to a fixed price contract by the Government, which resulted in the deferment and re-timing of income recognition from the project, from the second half of FY2018 to FY2019 and beyond. As a result, the Group’s 50%-owned LRT 3 project joint venture company MRCB George Kent Sdn Bhd contributed lower profit after tax of RM14.6 million, compared with RM15.2 million in the corresponding period in 2017. This is considerably lower than budgeted due to the deferment of progress billings as a result of the time taken to re-negotiate contract terms with the Government.

(i) Property Development & Investment:
The Property Development & Investment division recorded a higher revenue of RM1.043 billion for the year ended 31 December 2018.

(ii) Engineering, Construction & Environment:
The Engineering, Construction & Environment division recorded a revenue of RM758.6 million in 2018 compared to RM1,773.9 million in the preceding financial year ended 31 December 2017. Despite the 57.2% decline in revenue, which was due to the absence of construction revenue derived from the regeneration and redevelopment of the National Sports Complex project that was completed in July 2017, operating profit only fell by 39.3% to RM56.2 million for the financial year ended 31 December 2018.

The Group’s 50%-owned LRT 3 project joint venture company MRCB George Kent Sdn Bhd contributed lower profit after tax of RM14.6 million, compared with RM15.2 million in the corresponding period in 2017. This was considerably lower than budgeted due to the deferment of progress billings as a result of the time taken to re-negotiate contract terms with the Government from a PDP to a fixed price regime.

The Group recorded revenue and profit before taxation of RM374.1 million and RM7.7 million respectively, in the quarter ended 31 December 2018, compared to revenue of RM663.8 million and profit before taxation of RM41.1 million recorded in the preceding quarter ended 30 September 2018.

Prospects:
(i) Property Development & Investment:
Of the Group’s residential projects currently in development, 1060 Carnegie in Melbourne, Australia has achieved a take up rate of 79%, while Towers 1 and 3 of Sentral Suites have achieved combined take up rates of 74%, and Kalista Park Homes of 63%. The division will continue to focus its marketing efforts on its residential development projects, namely Sentral Suites in KL Sentral (GDV: RM1,529 million), 1060 Carnegie in Melbourne (GDV: RM305 million) and Kalista Park Homes in Bukit Rahman Putra (GDV: RM101 million), as well as the remaining unsold units in the Sentral Residences and VIVO in 9 Seputeh, which has historically achieved strong sales.

Revenue and operating profit in the Property Development & Investment division will continue to be progressively recognised in line with construction progress in 2019 from VIVO (9 Seputeh) and the 2 en-bloc office towers sold in PJ Sentral Garden City. Sentral Suites will continue to contribute revenue and operating profit until its physical completion in 2021, while TRIA should commence contributing this year. In Melbourne, 1060 Carnegie will only contribute to revenue and operating profit upon physical completion and the handover of units to purchasers, anticipated in 2020.

Overall, the Group had total cumulative unbilled sales in its Property Development & Investment division which are expected to deliver RM1,563 million in revenue to be booked over the development lifespan of its projects, approximately 87% of which are residential and 13% commercial. With interests in 282 acres of urban land, the Group has a sustainable stream of future projects with a total GDV of RM31 billion. The division also earns a relatively stable recurring income stream from its residual investment properties in KL Sentral CBD and Shah Alam and its 27.94% equity interest in MQ REIT.

(ii) Engineering, Construction & Environment:
The division currently has open tenders valued at RM2,931 million, and is placing greater emphasis on seeking infrastructure and long-term fee-based management projects. As at 31 December 2018, the external client order book stood at RM22.6 billion, which is amongst the highest in the industry. As at 31 December 2018, the unbilled order book stood at RM21.5 billion.
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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 RM1.31 in 3 months 11 days, total return is 63.8%

b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.23 in 8 months 26 days, total return is 54.7%

c) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.95 (dividend RM0.015) in 7 months 15 days, total return is 35%

d) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.27 in 3 months 4 days, total return is 31.6%

e) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.75 in 2 months 7 days, total return is 30.4%

f) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.29 (dividend RM0.0375) in 5 months 13 days, total return is 23.1%

g) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.62 (dividends RM0.02) in 5 months 26 days, total return is 14.7%

h) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.97 in 2 months 28 day, total return is 14.1%

i) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.39 (dividend RM0.035) in 4 months 9 days, total return is 12.2%

j) HSSEB (HSS ENGINEERS BHD), recommended on 20 Jan 19, initial price was RM1.04, rose to RM1.16 in 2 months 7 days, total return is 11.5%

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/2224010674532341 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/200004.jsp
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