[SAPURA ENERGY BHD：筹集约76亿令吉以偿还其借款及作为营运资金，172亿令吉订单达到两年来的最高水平，并随着集团在全球范围内竞标更大，更高价值的项目而继续增长]
4Q19 vs 4Q18:
这集团持续经营收入为14.851亿令吉，比去年同期（“Q4FY2018”）的9.027亿令吉高64.5％，主要是由于工程及建筑业务收入增加所致。
在本季度，这集团持续经营的税前亏损及减值之后的亏损为21.977亿令吉，而相比二零一八年财政年度第四季税前亏损及减值之后的亏损23亿930万令吉减少4.8％。在已终止经营业务减值后，本季度税前利润包括出售子公司50％股权的收益，即26.637亿令吉。
工程建设：
该部门录得收入12.6亿令吉，较二零一八年财政年度第四季的收入6亿7030万令吉增加88.0％，与本季度的较高活动一致。
钻井：
由于与Q4 FY2018相比，工作钻机数量增加，本季度的2.5亿令吉的收入比Q4 FY2018的2.304亿令吉收入高出8.5％。在扣除了减值亏损后，该部门税前亏损为10.924亿令吉，较Q4 FY2018的税前亏损21.145亿令吉减少48.3％。
勘探和生产：
该部门的税前利润为1,070万令吉，较Q4 FY2018减少1,030万令吉。
YTD19 vs YTD18：
这集团持续经营的减值亏损后及税前亏损的亏损为25.749亿令吉，较去年的持续经营的减值亏损后及税前亏损的亏损为25.504亿令吉增加2,450万令吉。本年度已终止经营业务的税后利润包括出售子公司50％股权的收益，即26.637亿令吉。
工程建设：
在扣除减值亏损后，该部门录得税前亏损5.689亿令吉，较去年的税前溢利1.945亿令吉减少7亿6340万令吉。
钻井：
在扣除减值亏损后，该部门录得税前亏损12.31亿令吉，而去年税前亏损为22.718亿令吉，减少了45.8％。
勘探和生产：
该部门录得收入9.36亿令吉，较去年同期的8.444亿令吉收入增加10.9％。增加的原因是本年度较高的liftings以及较高的平均实现油气价格的影响。
该部门于本年度录得除税前溢利8,860万令吉，较去年同期的6440万令吉高出2420万令吉，与收入增加一致。本年度的税前利润包括出售子公司50％股权的收益，即26.637亿令吉。
4Q19 vs 3Q19：
这集团来自持续经营业务的收入为14.851亿令吉，较上一季度（Q3FY2019）的12.061亿令吉增加23.1％，主要由于工程及建筑业务部门的收入增加。本季度已终止经营业务的税后利润包括出售子公司50％股权的收益，即26.637亿令吉。
前景：
于二零一九年财政年度，这集团成功实施其战略计划，以完成附加股及与OMV就其E＆P业务的战略合作关系，以加强其财务状况。通过这两项活动，这集团筹集约76亿令吉以偿还其借款及作为营运资金。因此，这集团已进行去杠杆化，并将自身定位于更强大的财务基础，以利用改善中市场的新兴机会。
未来，减值准备将使这集团在经营和财务上更具竞争力。这集团目前的172亿令吉订单达到两年来的最高水平，并随着集团在全球范围内竞标更大，更高价值的项目而继续增长。FY2019累计新合同的价值达到93亿令吉，其核心市场获得了值得注意的EPCIC项目，包括Mubalada石油公司的Pegaga天然气开发项目，ONGC的KG-DWN 98/2 NELP区块以及在墨西哥湾的Hokchi Field Development。该集团在其增长战略中有了重要的里程碑，即在中东和非洲有新的项目。作为沙特阿美公司长期协议（“LTA”）计划下的八家合格服务公司之一，将开辟新的工程，采购，施工和安装机会，并加深其在中东的业务。最近得到由壳牌石油公司在尼日利亚管理的一个管道项目以及与雪佛龙公司在安哥拉签订的长期钻井合同，使他们在非洲的市场得到进一步加强。
于二零二零年财政年度，这集团将继续专注于发展及执行订单，并提供强劲的营运表现。这集团正积极寻求中东，非洲，亚太，欧洲，里海及美洲的新机遇。预计不断扩大的订单将进一步提升资产利用率，从而有助于改善财务业绩。随着活动的增加，资产负债表的增强以及潜在的增长前景令人鼓舞，董事会有信心这集团有能力发展并增加股东价值。
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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 RM1.24 in 3 months 9 days, total return is 55%
b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.21 in 8 months 24 days, total return is 52.2%
c) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.945 (dividend RM0.015) in 7 months 13 days, total return is 34.3%
d) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.76 in 2 months 5 days, total return is 32.2%
e) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.25 in 3 months 2 days, total return is 29.5%
f) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.31 (dividend RM0.0375) in 5 months 11 days, total return is 24.2%
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 24 days, total return is 14.7%
h) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.965 in 2 months 26 day, total return is 13.5%
i) HSSEB (HSS ENGINEERS BHD), recommended on 20 Jan 19, initial price was RM1.04, rose to RM1.17 in 2 months 5 days, total return is 12.5%
j) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.38 (dividend RM0.035) in 4 months 7 days, total return is 11.4%
k) HSL (HOCK SENG LEE BHD), recommended on 1 Jul 18, initial price was RM1.40, rose to RM1.45 (dividend RM0.01) in 8 months 24 days, total return is 4.3%
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
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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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[SAPURA ENERGY BHD: raised approximately RM7.6 billion to repay its borrowings and for working capital, orderbook of RM17.2 billion is at its highest in two years and continues to grow as the Group bids for larger and higher-value projects globally]
4Q19 vs 4Q18:
The Group revenue from continuing operations of RM1,485.1 million was 64.5% higher than RM902.7 million in the corresponding quarter of the preceding year ("Q4FY2018"), mainly attributable to the higher revenue from Engineering and Construction business segment.
In the current quarter, the Group recorded a loss before taxation and after impairments from continuing operations of RM2,197.7 million which was lower by 4.8% compared to the loss before taxation and after impairments from continuing operations of RM2,309.3 million in Q4FY2018. Included in the current quarter profit before tax after impairment from discontinued operations is the gain on disposal of 50% equity stake in a subsidiary of RM2,663.7 million.
Engineering and Construction:
The segment recorded revenue of RM1,260.0 million, which was 88.0% higher than the revenue of RM670.3 million in Q4 FY2018, in line with the higher activities during the current quarter.
Drilling:
The segment revenue for the current quarter of RM250.0 million was 8.5% higher than the revenue of RM230.4 million in Q4 FY2018 due to higher number of working rigs compared to Q4 FY2018. The segment recorded a loss before taxation, after impairments of RM1,092.4 million, which was lower by 48.3% compared to the loss before taxation, after impairments of RM2,114.5 million in Q4 FY2018.
Exploration and Production:
The segment recorded a profit before taxation of RM10.7 million which was RM10.3 million lower compared to Q4 FY2018.
YTD19 vs YTD18:
The Group recorded a loss before taxation and after impairments from continuing operations of RM2,574.9 million which was higher by RM24.5 million compared to the loss before taxation and after impairments from continuing operations of RM2,550.4 million in the corresponding year. Included in the current year profit after taxation from discontinued operations is the gain on disposal of 50% equity stake in a subsidiary of RM2,663.7 million.
Engineering and Construction:
The segment recorded a loss before taxation, after impairments for the current year of RM568.9 million which was lower by RM763.4 million compared to profit before taxation, after impairments of RM194.5 million in the corresponding year.
Drilling:
The segment recorded a loss before taxation, after impairments for the current year of RM1,231.0 million which was lower by 45.8% compared to loss before taxation, after impairments of RM2,271.8 million in the corresponding year.
Exploration and Production:
The segment recorded revenue of RM936.0 million, which was 10.9% higher than the revenue of RM844.4 million in the corresponding year. The increase was due to the higher liftings and the effect of the higher average realised oil and gas price achieved in the current year.
The segment recorded a profit before taxation for the current year of RM88.6 million which was higher by RM24.2 million compared to profit before taxation of RM64.4 million in the corresponding year, in line with the higher revenue. Included in the current year profit before tax is the gain on disposal of 50% equity stake in a subsidiary of RM2,663.7 million.
4Q19 vs 3Q19:
The Group revenue from continuing operations of RM1,485.1 million was 23.1% higher than the immediate preceding quarter("Q3FY2019") of RM1,206.1 million, primarily due to the higher revenue from Engineering and Construction business segment. Included in the current quarter profit after taxation from discontinued operations is the gain on disposal of 50% equity stake in a subsidiary of RM2,663.7 million.
Prospects:
In FY2019, the Group successfully delivered on its strategic plans to strengthen its financial position with the completion of the rights issue and the strategic partnership with OMV for its E&P business. Through both exercises, the Group raised approximately RM7.6 billion to repay its borrowings and for working capital. As a result, the Group has deleveraged and positioned itself on a stronger financial footing to capitalise on the emerging opportunities in an improving market.
Moving forward, the provision for impairment should enable the Group to be more competitive operationally and economically. The Group’s current orderbook of RM17.2 billion is at its highest in two years and continues to grow as the Group bids for larger and higher-value projects globally. The value of cumulative new contract wins in FY2019 stood at RM9.3 billion, with notable EPCIC awards in their core markets, including the Pegaga gas development by Mubalada Petroleum, KG-DWN 98/2 NELP block by ONGC and Hokchi Field Development in the Gulf of Mexico. The Group marked significant milestones in its growth strategy with new entries in the Middle East and Africa. Being one of the eight qualified service companies under Saudi Aramco’s long-term agreement("LTA") programme will open up new engineering, procurement, construction and installation opportunities, and deepen their presence in the Middle East. Their African presence has been further strengthened by the recent award for a pipeline project in Nigeria operated by Shell Petroleum and a long-term drilling contract in Angola with Chevron Corporation.
In FY2020, the Group will remain focused on growing and executing the orderbook as well as delivering strong operational performance. The Group is aggressively pursuing new opportunities in the Middle East, Africa, Asia Pacific, Europe, the Caspian and the Americas. The expanding orderbook is expected to further boost asset utilisation, thus contributing to improving the financial performance. With the increasing activities, stronger balance sheet and encouraging potential growth prospects, the Board is confident that the Group is strongly positioned to grow and increase shareholder value.
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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 RM1.24 in 3 months 9 days, total return is 55%
b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.21 in 8 months 24 days, total return is 52.2%
c) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.945 (dividend RM0.015) in 7 months 13 days, total return is 34.3%
d) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.76 in 2 months 5 days, total return is 32.2%
e) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.25 in 3 months 2 days, total return is 29.5%
f) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.31 (dividend RM0.0375) in 5 months 11 days, total return is 24.2%
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 24 days, total return is 14.7%
h) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.965 in 2 months 26 day, total return is 13.5%
i) HSSEB (HSS ENGINEERS BHD), recommended on 20 Jan 19, initial price was RM1.04, rose to RM1.17 in 2 months 5 days, total return is 12.5%
j) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.38 (dividend RM0.035) in 4 months 7 days, total return is 11.4%
k) HSL (HOCK SENG LEE BHD), recommended on 1 Jul 18, initial price was RM1.40, rose to RM1.45 (dividend RM0.01) in 8 months 24 days, total return is 4.3%
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/2218984575034951 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/199625.jsp
