[FRONTKEN CORP BHD：客户在台湾的产量增加以及马来西亚的油气业务有所改善]
4Q19 vs 4Q18:
YTD19 vs YTD18：
4Q19 vs 3Q19：
从长远来看，对半导体的全球需求将继续增长。根据IHS Markit的说法，5G的部署将是推动半导体行业从2019年的严重衰退中复苏的主要因素，这不仅是因为它将为无线行业带来新的增长，而且还因为这无线技术将赋予全球企业和经济体更广泛的利益。 IHS Markit进一步强调指出，2020年的市场将由两个重要因素驱动：一是全球服务器扩展恢复增长，其二是5G手机的引入。该集团相信，电子和技术领域的这些发展将对其半导体业务产生积极的影响。
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 RM2.49 (dividend RM0.025) in 1 year 6 months 6 days, total return is 251.7%
b) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM1.49 in 1 year 29 days, total return is 159.1%
c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.91 (dividend RM0.04) in 1 year 7 months 17 days, total return is 145.3%
d) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM3.11 (adjusted)(dividend RM0.01) in 8 months 16 days, total return is 86.8%
e) PRLEXUS (PROLEXUS BHD), recommended on 25 Aug 19, initial price was RM0.455, rose to RM0.78 in 5 months 24 days, total return is 71.4%
f) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM2.37 (dividends RM0.113) in 1 Year 4 months 11 days, total return is 56.2%
g) TSH (TSH RESOURCES BHD), recommended on 30 Jun 19, initial price was RM0.90, rose to RM1.36 in 7 months 19 days, total return is 51.1%
h) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.14 (dividend RM0.015) in 1 Year 2 months 2 days, total return is 44.4%
i) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.67 (dividend RM0.105) in 1 Year 3 months, total return is 39.8%
j) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM5.28 (adjusted) (dividend RM0.13431) in 1 Year 6 months 20 days, total return is 36.7%
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[FRONTKEN CORP BHD: Their subsidiaries in Taiwan and Malaysia recorded a higher revenue for the current quarter ended 31 December 2019 due to their customer’s ramp up of production in Taiwan and improvement in oil and gas business in Malaysia]
4Q19 vs 4Q18:
The Group’s revenue for the current quarter ended 31 December 2019 increased by approximately RM0.2 million (0.3%) compared to the preceding year corresponding quarter. Their subsidiaries in Taiwan and Malaysia recorded a higher revenue for the current quarter ended 31 December 2019 due to their customer’s ramp up of production in Taiwan and improvement in oil and gas business in Malaysia. The Group’s profit before tax (“PBT”) of RM24.5 million for the current quarter was RM0.1 million or 0.3% higher than the preceding year corresponding quarter mainly due to improved performance by their subsidiaries in Taiwan and Malaysia.
YTD19 vs YTD18:
The Group’s revenue of RM339.9 million for the period ended 31 December 2019 was RM12.7 million (3.9%) higher than that achieved in the preceding year corresponding period. The improvement was mainly due to better performances from the Group’s subsidiaries in Singapore, Malaysia and Taiwan due to the positive growth in their respective businesses. Against the same period last year, the PBT for the Group improved by RM20.6 million (27.3%) as a result of increased revenue, better product mix and continual efforts to improve their efficiency across the Group.
4Q19 vs 3Q19:
The Group’s revenue was 2.1% or approximately RM1.8 million higher during the current quarter as compared to the immediate preceding quarter due to improved business performance by their subsidiaries in Taiwan and Malaysia. The Group’s unaudited PBT for the current quarter was RM24.5 million or 6.2% lower than the immediate preceding quarter of RM26.1 million. If they were to exclude the foreign exchange impact, the current quarter’s performance would have been 3% better than the preceding quarter i.e RM25.7 million
against RM25.1 million.
In 2019, the Group achieved another remarkable performance with a historical high profit after tax of RM74.2 million compared to the preceding year in spite of marginal growth in revenue. This was mainly attributable to the business model adopted by the Group’s subsidiaries in Taiwan and Singapore that are in the semiconductor business. The oil and gas subsidiaries in Malaysia also chipped in with better numbers due mainly to the improved sentiments in the sector.
The global demand for semiconductors, which remains strong in the long term, will continue to grow. According to IHS Markit, the deployment of 5G will be the main factor propelling a recovery for the semiconductor industry from the significant downturn in 2019, not only because of the renewed growth it will bring to the wireless industry, but also due to the wider benefits the wireless technology will bestow on global businesses and economies. IHS Markit further highlighted that the market in 2020 will be driven by two significant factors: one, the return to growth for global server expansion, and two, the introduction of 5G handsets. The Group believes that these developments in the electronic and technology space will be positive for their semiconductor business for years to come.
As for the oil and gas industry, the improved performance of their oil and gas business in 2019 augurs well for the Group’s business in the next few years in view of being appointed as one of the panel contractors for the provision of manpower supply and also mechanical rotating equipment services and parts for Petronas Group of Companies.
Although their customers have indicated that their businesses are currently not affected by the extended lunar new year break in China, most are unable to predict the impact of COVID-19 virus should the situation prolongs. To that end, they will continue to focus their attention on the quality of their services and cost management so as to maintain their competitiveness. They believe that their business will be able to continue with its momentum during the year and therefore they are cautiously optimistic that their subsidiaries in Taiwan, Singapore, Malaysia and Philippine will continue to contribute positively to the Group’s earnings in 2020.
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