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 [PCHEM (5183) 馬石油化工 PETRONAS CHEMICALS GROUP BHD:随着原油价格下跌及市场需求疲软,国油石化整体平均产品价格较上季度有所下降] - James的股票投资James Share Investing

2Q19 vs 2Q18:
随着原油价格下跌及市场需求疲软,国油石化整体平均产品价格较上季度有所下降。由于产品价格下降,收入下降了3.96亿令吉或8%至43亿令吉,部分被销量增加以及马来西亚令吉兑美元走弱所抵消。由于收入减少,EBITDA减少了2.9亿令吉或16%,达到15亿令吉。由于EBITDA减少和税收支出较高,税后利润也少了3.38亿令吉或23%,为11亿令吉。

烯烃和衍生物:
由于原油价格下跌以及市场需求疲软,该部门的平均产品价格下跌。由于产品价格和销量下降,收入下降了4.05亿令吉或15%,达到23亿令吉,部分被马来西亚令吉兑美元的疲软所抵消。该部门的EBITDA减少了2.96亿令吉或31%,为6.49亿令吉,主要是由于收入减少。税后利润也降低了2.8亿令吉或40%,达到4.13亿令吉,与EBITDA降低一致,部分被税收支出减少所抵消。

肥料和甲醇:
由于原油价格下跌,该部门的平均产品价格下跌。由于产品价格下跌,该部门的收入略微减少了2600万令吉或1%至20亿令吉,部分被销量增加和马来西亚令吉兑美元走弱所抵消。税收支出增加后,税后利润减少了4700万令吉或6%,达到6.82亿令吉。

YTD19 vs YTD18:
随着工厂性能提高,产量增加,但销量下降。随着原油价格走低,总体平均产品价格低于同期。由于产品价格和销售量下降,收入下降了12亿令吉或13%,达到85亿令吉,部分被马来西亚令吉兑美元走弱所抵消。

息税折旧摊销前利润减少了8亿6800万令吉或24%,为28亿令吉,因为维持活动相关的收入减少及营运开支增加。由于EBITDA较低,税后利润也减少了7.02亿令吉或27%,为19亿令吉,部分被税收支出减少所抵消。

烯烃和衍生物:
由于库存积累以准备下一季度的工厂维护活动,销量略有下降。由于原油价格下跌,该部门的平均产品价格下跌。收入减少8.11亿令吉或14%,为51亿令吉,主要原因是产品价格和销量下降,部分被马来西亚令吉兑美元走弱所抵消。由于收入减少,息税折旧摊销前利润下降了6.69亿令吉或33%,达到14亿令吉。税后利润也减少了5.38亿令吉或38%,为8亿9,300万令吉,部分被税收支出减少所抵消。

肥料和甲醇:
由于甲醇工厂的维护活动,甲醇生产和销售量因而减少。该部门的甲醇平均产品价格较低,主要是原油价格下跌。该部门收入减少4.89亿令吉或13%至33亿令吉,主要由于较低的价格和销售量,部分被马来西亚令吉兑美元走弱所抵消。

由于收入下降和维护活动相关的运营支出增加,EBITDA下降了1.57亿令吉或9%,达到15亿令吉。税后利润也从去年减少了2.98亿令吉或22%,达到10亿令吉,与EBITDA的下降一致。

2Q19 vs 1Q19:
尽管原油价格上涨,但由于市场供过于求和需求疲软,整体平均产品价格走低。由于股东贷款产生的未实现外汇收益,税后利润增加了2.99亿令吉或37%,达到11亿令吉。

前景:
烯烃和衍生物:
国油石化预计烯烃及衍生产品部门的产品价格将于下季度稳定下来。

肥料和甲醇:
集团预计化肥和甲醇产品价格也将趋于稳定。
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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 RM1.58 (dividend RM0.015) in 11 months 25 days, total return is 123.1%

b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.45 (dividend RM0.04) in 1 year 1 month 6 day, total return is 87.4%

c) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.36 in 7 months 22 days, total return is 70%

d) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.44 (dividend RM0.1875) in 9 months 23 days, total return is 39%

e) PESTECH (PESTECH INTERNATIONAL BHD), recommended on 2 Jun 19, initial price was RM1.04, rose to RM1.43 in 2 months 5 days, total return is 37.5%

f) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.67 (dividend RM0.035) in 8 months 20 days, total return is 34.3%

g) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.27 (dividend RM0.008) in 7 months 15 days, total return is 32.4%

h) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.755 in 6 months 18 days, total return is 31.3%

i) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM1.81 (dividends RM0.063) in 9 months 30 days, total return is 17.8%

j) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.63 (dividends RM0.04) in 10 months 7 days, total return is 16.8%

k) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.94 in 7 months 7 days, total return is 10.6%

l) HUAYANG (HUA YANG BHD), recommended on 17 Feb 19, initial price was RM0.40, rose to RM0.44 in 5 months 21 days, total return is 10%

m) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM4.06 (dividends RM0.084) in 1 Year 10 days, total return is 4.6%

n) FIAMMA (FIAMMA HOLDINGS BHD), recommended on 23 Sep 18, initial price was RM0.495, rose to RM0.49 (dividends RM0.0225) in 10 months 17 days, total return is 3.5%

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页面与我联系。

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9月7日星期六:Hotel Sri Petaling, KL

10月20日星期日:Silka Johor Bahru Hotel, Johor Bahru

12月21日星期六:AG Hotel Penang, George Town

3) 【公司业绩分享会】:
2p.m. – 7p.m.,免费茶和咖啡

9月6日星期五:Hotel Sri Petaling, KL 3份点心

10月18日星期五:Silka Johor Bahru Hotel, Johor Bahru 5份点心

12月20日星期五:AG Hotel Penang, George Town 2份点心

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

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

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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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[PETRONAS CHEMICALS GROUP BHD: Overall average products prices for the Group decreased from the corresponding quarter in tandem with declining crude oil price and softer market demand]

2Q19 vs 2Q18:
Overall average products prices for the Group decreased from the corresponding quarter in tandem with declining crude oil price and softer market demand. Revenue was lower by RM396 million or 8% at RM4.3 billion largely due to lower product prices partially offset by higher sales volume and the weakening of Ringgit Malaysia against US Dollar. EBITDA decreased by RM290 million or 16% at RM1.5 billion in line with lower revenue. Profit after tax also reduced by RM338 million or 23% at RM1.1 billion following lower EBITDA and higher tax expense.

Olefins and Derivatives:
Average product prices for the segment declined as crude oil prices decreased coupled with softer market demand. Revenue was lower by RM405 million or 15% at RM2.3 billion as a result of lower product prices and sales volume, partially offset by the weakening of Ringgit Malaysia against US Dollar. EBITDA for the segment decreased by RM296 million or 31% at RM649 million mainly due to lower revenue. Profit after tax was also lower by RM280 million or 40% at RM413 million in line with lower EBITDA, partially offset by lower tax expense.

Fertilisers and Methanol:
Average product prices for the segment declined as crude oil prices decreased. The segment’s revenue slightly decreased by RM26 million or 1% at RM2.0 billion due to decline in product prices, partially offset by higher sales volume and the weakening of Ringgit Malaysia against US Dollar. Profit after tax decreased by RM47 million or 6% at RM682 million following higher tax expense.

YTD19 vs YTD18:
Production volume increased following better plant performance but sales volume declined. Overall average product prices were lower than corresponding period in tandem with lower crude oil price. Revenue was lower by RM1.2 billion or 13% at RM8.5 billion largely due to lower product prices and sales volume, partially offset by the weakening of Ringgit Malaysia against US Dollar.

EBITDA was lower by RM868 million or 24% at RM2.8 billion in line with lower revenue and higher operating expenditure relating to maintenance activities. Profit after tax also decreased by RM702 million or 27% at RM1.9 billion following lower EBITDA, partially offset by lower tax expense.

Olefins and Derivatives:
Sales volume is slightly lower due to inventory build up in preparation for plant statutory turnaround activity in the upcoming quarter. Average product prices for the segment declined as crude oil prices decreased. Revenue decreased by RM811 million or 14% at RM5.1 billion largely attributable to lower product prices and sales volume, partially negated by the weakening of Ringgit Malaysia against US Dollar. EBITDA was lower by RM669 million or 33% at RM1.4 billion in line with lower revenue. Profit after tax also decreased by RM538 million or 38% at RM893 million, partially offset by lower tax expense.

Fertilisers and Methanol:
Production and sales volumes decreased mainly for methanol due to maintenance activities at the methanol plants during the period. Average product prices for the segment was lower mainly for methanol in tandem with lower crude oil price. The segment recorded lower revenue by RM489 million or 13% at RM3.3 billion mainly due to lower prices and sales volume, partially offset by the weakening of Ringgit Malaysia against US Dollar.

EBITDA was lower by RM157 million or 9% at RM1.5 billion following lower revenue and higher operating expenditure relating to maintenance activities. Profit after tax also decreased from the corresponding year by RM298 million or 22% at RM1.0 billion in line with lower EBITDA.

2Q19 vs 1Q19:
Overall average product prices were lower despite higher crude oil price, due to oversupply in the market and weak demand. Profit after tax increased by RM299 million or 37% at RM1.1 billion contributed by unrealised foreign exchange gain arising from its shareholder loans.

Prospects:
Olefins and Derivatives:
The Group anticipates product prices for Olefins and Derivatives segment to stabilise in the coming quarter.

Fertilisers and Methanol:
The Group expects that Fertiliser and Methanol product prices to also stabilise.
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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.

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://www.facebook.com/jamesshareinvest/posts/2342603882673019
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