[MI TECHNOVATION BERHAD：已于第二季度迁入新落成的Bayan Lepas工厂，他们已开始为Mi Autobotics和Mi Components建造Batu Kawan工厂，目前已完成22％]
2Q19 vs 2Q18:
YTD19 vs YTD18：
2Q19 vs 1Q19：
他们的子公司Mi Equipment已于第二季度迁入新落成的Bayan Lepas工厂，他们已开始为Mi Autobotics和Mi Components建造Batu Kawan工厂，目前已完成22％。他们正在建立他们的集团基础设施，以赶上业界普遍预计将于2020年开始的扩张周期。
James Ng Stock Pick Performance:
Since Recommended Return:
a) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM1.65 (dividend RM0.015) in 1 year 11 days, total return is 132.9%
b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.51 (dividend RM0.04) in 1 year 1 month 20 day, total return is 95%
c) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.28 in 8 months 7 days, total return is 60%
d) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.70 (dividend RM0.07) in 9 months 5 days, total return is 39.4%
e) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.80 in 7 months 3 days, total return is 39.1%
f) PESTECH (PESTECH INTERNATIONAL BHD), recommended on 2 Jun 19, initial price was RM1.04, rose to RM1.39 in 2 months 19 days, total return is 33.7%
g) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.32 (dividend RM0.1875) in 10 months 9 days, total return is 32.7%
h) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.26 (dividend RM0.008) in 7 months 29 days, total return is 31.4%
i) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM1.96 (dividends RM0.063) in 10 months 16 days, total return is 27.2%
j) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.56 (dividends RM0.04) in 10 months 21 days, total return is 11.9%
k) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM1.85 (dividend RM0.01) in 2 months 21 days, total return is 11.4%
l) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM4.29 (dividends RM0.084) in 1 Year 24 days, total return is 10.5%
m) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.88 in 7 months 21 days, total return is 3.5%
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[MI TECHNOVATION BERHAD: Mi Equipment has moved into the newly completed Bayan Lepas facilities in the second quarter and they have commenced the construction of their Batu Kawan plant for Mi Autobotics and Mi Components which has currently reached 22% completion]
2Q19 vs 2Q18:
The Group’s profit before tax (“PBT”) of RM17.38 million for the current quarter exceeded the similar quarter of the last financial year of RM16.62 million. The slight increase of 5% in PBT was mainly due to manufacturing efficiency and cost control measures as well as change in geographical sales mix resulting in lower commission payable to external sales agents during the current quarter.
YTD19 vs YTD18:
The Group recorded a total revenue of RM75.62 million and PBT of RM24.28 million for the current financial period ended 30 June 2019, representing a 14% drop in revenue but a 4% increase in PBT. The decline in revenue was a result of continuing slowdown in semiconductor industry whereas the increase in PBT was due to operations efficiencies and change in geographical sales mix resulting in lower commission payable to external sales agent.
2Q19 vs 1Q19:
The Group posted a revenue of RM46.13 million and PBT of RM17.38 million for the current quarter under review, compared to RM29.48 million and RM6.90 million for the immediate preceding quarter. Both revenue and PBT have increased by 56% and 152% respectively. The better results in current quarter were mainly due to higher sales revenue generated, in particular from North East Asia region, some operations efficiencies achieved as well as foreign exchange gains resulting from depreciation of Ringgit Malaysia against US Dollar.
Capex decisions from their key customers need to be made and players will need to move ahead, taking into account the worst‐case scenarios forecasted. They observed improvements in the capex investment quantum of their key customers in 2H2019 which will give them the opportunity to register better performance in 2H2019 or otherwise early 2020, depending on revenue recognition due to timing of billing and shipment.
They are positive on the situation as the worst‐case scenario caused by the trade war has been taken into account by most of their customers. The restructuring of the global supply chain, especially the new supply chain eco‐system in China, has increased activities and expanded the market for semiconductor equipment. Mi Equipment will be one of the beneficiaries if they are able to participate in this eco‐system.
Their subsidiary, Mi Equipment has moved into the newly completed Bayan Lepas facilities in the second quarter and they have commenced the construction of their Batu Kawan plant for Mi Autobotics and Mi Components which has currently reached 22% completion. They are putting in place their group wide infrastructure to catch the upcycle which is widely anticipated to begin in 2020 by the industry.
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