[ASTRO MALAYSIA HOLDINGS BHD：较低的内容成本以及营销和分销费用]
2Q20 vs 2Q19:
本季度的收入为12.364亿令吉，较去年同期的14.165亿令吉减少了1.801亿令吉或12.7％。 EBITDA利润率较同季度增长15.0％。这是由于较低的内容成本以及营销和分销费用所致。净利润较上季度增加1.532亿令吉或1,042.2％，主要是由于EBITDA增加和较低的净财务成本所致，但被较高的税收支出抵消。
电视：
电视EBITDA较相应季度增加1.612亿令吉或64.0％，主要是由于较低的内容成本及营销及分销成本。
广播：
较低的收入导致EBITDA较低，为3,500万令吉，较同期的3,960万令吉下降460万令吉或11.6％。
家庭购物：
家庭购物EBITDA与相应季度相比增加了130万令吉，这主要是由于本季度的战术活动减少。
2Q20 vs 1Q20:
本季度的收入为12.364亿令吉，较上一季度的12.344亿令吉增长了200万令吉或0.2％。这是由于广告收入和商品销售的增加。息税折旧摊销前利润率下降0.5％，主要原因是内容成本上升，但被应收账款减值减少所抵消。本季度净利润减少140万令吉或0.8％至1.679亿令吉，但被净财务成本和税费开支的下降抵消了。
电视：
EBITDA较上一季度减少310万令吉或0.7％，主要是由于较高的内容成本，但被应收账款减值和员工相关成本减少了所抵消。
广播：
Radio的当前季度收入为6550万令吉，较上一季度的5,950万令吉高出600万令吉或10.1％。本季度收入表现较高的原因是季节性因素。收入增加导致EBITDA增加到3,500万令吉，较上一季度增加530万令吉或17.8％。
家庭购物：
本季度家庭购物收入为9,050万令吉，较上一季度的8,350万令吉高出700万令吉或8.4％。收入增加是由于本季度节日季节带来的销售刺激。家庭购物EBITDA与上一季度相比增加了80万令吉，主要是由于本季度的收入增加。
YTD20 vs YTD19:
本期间的收入为24.708亿令吉，较去年同期的27.274亿令吉减少2.566亿令吉或9.4％。息税折旧摊销前利润率同比增长8.1％，主要原因是国际足联世界杯的内容成本较低以及营销和分销费用较低。期内净利润增加1.486亿令吉或78.8％至3亿3720万令吉。该增长主要是由于EBITDA的增加和净财务成本的降低。
电视：
EBITDA较同期增加1.481亿令吉或21.7％，主要是由于内容成本较低。
广播：
收入减少导致EBITDA较低，为6470万令吉，较去年同期的7,270万令吉低800万令吉或11.0％。
家庭购物：
家庭购物EBITDA与同期相比增加了20万令吉或3.2％，这主要是由于本期战术活动较少。
资产负债表审查：
于二零一九年七月三十一日，这集团总资产为63.606亿令吉，而二零一九年一月三十一日的总资产为62.596亿令吉，增加了1.01亿令吉或1.6％。截至2019年1月31日，这集团的负债总额减少6,100万令吉或1.1％至55.197亿令吉（二零一九年一月三十一日为55.807亿令吉）。负债总额减少乃由于应付款项减少所致。
前景：
Astro的重点是通过重新定义客户价值主张，提升客户服务和更新内容来加强其核心付费电视和NJOI业务。该公司将利用其客户群在宽带，OTT，数字和商业领域建立新的收入。成本优化工作将继续进行。
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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 RM1.66 (dividend RM0.025) in 1 year 1 month 1 day, total return is 135.7%
b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.41 (dividend RM0.04) in 1 year 2 months 12 days, total return is 82.4%
c) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.30 in 8 months 28 days, total return is 62.5%
d) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.39 (dividend RM0.1875) in 10 months 30 days, total return is 36.4%
e) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.65 (dividend RM0.07) in 9 months 26 days, total return is 35.4%
f) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.26 (dividend RM0.008) in 8 months 21 days, total return is 31.4%
g) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.755 in 7 months 24 days, total return is 31.3%
h) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM1.98 (dividends RM0.083) in 11 months 6 days, total return is 29.7%
i) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM2.05 (dividend RM0.01) in 3 months 10 days, total return is 23.4%
j) PRLEXUS (PROLEXUS BHD), recommended on 25 Aug 19, initial price was RM0.455, rose to RM0.56 in 21 days, total return is 23.1%
k) PESTECH (PESTECH INTERNATIONAL BHD), recommended on 2 Jun 19, initial price was RM1.04, rose to RM1.26 in 3 months 11 days, total return is 21.2%
l) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM4.37 (dividends RM0.111) in 1 Year 1 month 15 days, total return is 13.2%
m) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.49 (dividends RM0.04) in 11 months 13 days, total return is 7%
n) FIAMMA (FIAMMA HOLDINGS BHD), recommended on 23 Sep 18, initial price was RM0.495, rose to RM0.495 (dividends RM0.0225) in 11 months 21 days, total return is 4.5%
o) PMETAL (PRESS METAL ALUMINIUM HOLDINGS BHD), recommended on 26 Aug 18, initial price was RM4.78, rose to RM4.90 (dividends RM0.075) in 1 Year 18 days, total return is 4.1%
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。
1)【看懂年报和季报】课程:
11a.m. – 7p.m.，免费茶和咖啡
10月19日星期六：Silka Johor Bahru Hotel, Johor Bahru 5份点心
12月22日星期日：AG Hotel Penang, George Town 2份点心
12月29日星期日：Hotel Sri Petaling, KL 3份点心
2)【股票-实际操作班】课程：
10a.m. – 9p.m.，免费午餐和晚餐
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
12月28日星期六：Hotel Sri Petaling, KL
3) 【公司业绩分享会】:
2p.m. – 7p.m.，免费茶和咖啡
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
12月27日星期五：Hotel Sri Petaling, KL 3份点心
有兴趣的朋友，可以电邮或PM FB page联络我
email：jamesngshare@gmail.com
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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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[ASTRO MALAYSIA HOLDINGS BHD: lower content costs and marketing and distribution expenses]
2Q20 vs 2Q19:
Revenue for the current quarter of RM1,236.4m was lower by RM180.1m or 12.7% against corresponding quarter of RM1,416.5m. EBITDA margin improved by 15.0% against corresponding quarter. This is contributed by lower content costs and marketing and distribution expenses. Net profit increased by RM153.2m or 1,042.2% compared with the corresponding quarter mainly due to increase
in EBITDA and lower net finance costs, offset by higher tax expenses.
Television:
The increase in Television EBITDA by RM161.2m or 64.0% against corresponding quarter mainly due to lower content costs and marketing and distribution costs.
Radio:
The lower revenue resulted in lower EBITDA of RM35.0m, a decline of RM4.6m or 11.6% compared with the corresponding quarter of RM39.6m.
Home-shopping:
Home-shopping EBITDA improved by RM1.3m against corresponding quarter, primarily due to less tactical campaigns during the quarter.
2Q20 vs 1Q20:
Revenue for the current quarter of RM1,236.4m grew by RM2.0m or 0.2% compared to the preceding quarter of RM1,234.4m. This was contributed by an increase in advertising revenue and merchandise sales. EBITDA margin drop by 0.5% mainly due to higher content costs, mitigated by lower impairment of receivables. Net profit decreased by RM1.4m or 0.8% to RM167.9m during the quarter, offset by lower net finance costs and tax expenses.
Television:
EBITDA decreased by RM3.1m or 0.7% against the preceding quarter mainly due to higher content costs, mitigated by lower impairment of receivables and staff related costs.
Radio:
Radio’s revenue for the current quarter of RM65.5m was higher by RM6.0m or 10.1% compared with the preceding quarter of RM59.5m. The higher revenue performance for the quarter was due to the seasonality factors. The higher revenue resulted in higher EBITDA of RM35.0m, an increase of RM5.3m or 17.8% compared with the preceding quarter.
Home-shopping:
Home-shopping’s revenue for the current quarter of RM90.5m was higher by RM7.0m or 8.4% compared with the preceding quarter of RM83.5m. The increase in revenue was due to the spur in sales driven by the festive season in the current quarter. Home-shopping EBITDA improved by RM0.8m against the preceding quarter, primarily due to the higher revenue in the current quarter.
YTD20 vs YTD19:
Revenue for the current period of RM2,470.8m was lower by RM256.6m or 9.4% against the corresponding period of RM2,727.4m. EBITDA margin increased by 8.1% against the corresponding period mainly due to lower content costs from FIFA World Cup and marketing and distribution expenses. Net profit increased by RM148.6m or 78.8% to RM337.2m during the period. The increase was mainly due to an increase in EBITDA and lower net finance costs.
Television:
EBITDA increased by RM148.1m or 21.7% against the corresponding period mainly due to lower content costs.
Radio:
The lower revenue resulted in lower EBITDA of RM64.7m which was lower by RM8.0m or 11.0% compared with the corresponding period of RM72.7m.
Home-shopping:
Home-shopping EBITDA improved by RM0.2m or 3.2% against corresponding period, which was mainly due to less tactical campaigns in the current period.
Balance sheet review:
As at 31 July 2019, the Group had total assets of RM6,360.6m against RM6,259.6m as at 31 January 2019, an increase of RM101.0m or 1.6%. The Group’s total liabilities reduced by RM61.0m or 1.1% to RM5,519.7m against RM5,580.7m as of 31 January 2019. The decrease in total liabilities was due to lower payables.
Prospects:
Astro’s focus is to strengthen its core Pay TV and NJOI businesses by redefining customer value propositions, elevating customer service and refreshing content. The company will leverage on its customer base to build new revenue adjacencies in broadband, OTT, digital and commerce. Cost optimisation efforts will continue.
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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/2364511183815622
