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 [LAND & GENERAL BHD:由于疲软的房地产市场,被其联营公司Country Garden (M) Properties Sdn Bhd (“CGPM”)的亏损份额抵消]

2Q20 vs 2Q19:
这季这集团录得收入3,922万令吉(2019年第二季:2,615万令吉)及税前盈利718万令吉(2019年第二季:18万令吉)。该季度收入和税前利润的增长主要归因于房地产部门;但由于疲软的房地产市场,被其联营公司Country Garden (M) Properties Sdn Bhd (“CGPM”)的亏损份额抵消。

物业部门:
物业部门的收入为3,384万令吉(2019年第二季度:2,010万令吉),营业利润为1,131万令吉(2019年第二季度:306万令吉)。

教育部门:
教育部门录得收入444万令吉(2019年第二季度:346万令吉)和营业利润94万令吉(2019年第二季度:108万令吉)。该部门的营业利润下降是由于自2019年8月起根据其国际学校扩建计划招募了更多教师而导致的间接费用增加。

其他部门:
其他部门录得营业亏损199万令吉(2019年第二季度:69万令吉营业利润),而收入为93万令吉(2019年第二季度:259万令吉)。本季度的收入较低是由于该季度没有从其他投资获得股息收入(2019年第二季度:60万令吉股息)以及在向其股东派发股息后短期基金的收益较低。该部门本季度的税前亏损主要是由于布城办事处的日常管理费用增加以及应付给联营公司CGPM的钱增加了利息支出。

YTD20 vs YTD19:
这6个月期间,集团录得税前盈利1,560万令吉(2019年第二季度:314万令吉),而收入为8,363万令吉(2019年第二季度:4,823万令吉),主要是由于物业部门的贡献更大。

物业部门:
物业部门在此期间录得收入7,265万令吉(2019年第二季度:3,555万令吉)和营业利润1,952万令吉(2019年第二季度:510万令吉)。

教育部门:
教育部门的收入为877万令吉(2019年第二季度:707万令吉),营业利润为247万令吉(2019年第二季度:213万令吉),而学费的增加归因于学生入学人数的增加(无论是私立学校还是国际学校)。

其他部门:
在收入221万令吉(2019年第二季度:560万令吉)的支持下,其他部门在截至2019年9月30日的期间录得302万令吉营业亏损(2019年第二季度:272万令吉营业利润)。本期营业亏损与上年同期相比,主要是由于布城办事处的日常管理费用和利息支出增加,以及联营公司CGPM没有增加利息收入。

2Q20 vs 1Q20:
集团的收入和税前盈利分别为3922万令吉(2020年第一季度:4441万令吉)和718万令吉(2020年第一季度:842万令吉)。相比上一季度税前利润的重大变化主要是由于:

-房地产部门应计成本的净回拨558万令吉,以及
-分占联营公司CGPM的亏损。

前景:
在剩余的财政年度中,房地产市场预计仍将充满挑战。该集团还预计,未来几个季度其私立和国际学校的学生入学率将有所提高。
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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 RM2.53 (dividend RM0.025) in 1 year 5 months 25 days, total return is 257.3%

b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.90 (dividend RM0.04) in 1 year 7 months 5 days, total return is 144%

c) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM1.36 in 1 year 17 days, total return is 136.5%

d) PRLEXUS (PROLEXUS BHD), recommended on 25 Aug 19, initial price was RM0.455, rose to RM0.835 in 5 months 12 days, total return is 83.5%

e) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM3.03 (adjusted)(dividend RM0.01) in 8 months 4 days, total return is 82%

f) TSH (TSH RESOURCES BHD), recommended on 30 Jun 19, initial price was RM0.90, rose to RM1.34 in 7 months 7 days, total return is 48.9%

g) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM2.20 (dividends RM0.113) in 1 Year 3 months 30 days, total return is 45.5%

h) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.61 (dividend RM0.105) in 1 Year 2 months 19 days, total return is 35%

i) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.05 (dividend RM0.015) in 1 Year 1 month 21 days, total return is 33.1%

j) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.24 (dividend RM0.018) in 1 Year 1 month 14 days, total return is 30.4%

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%

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电话/Whatsapp : 011 - 15852043

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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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[LAND & GENERAL BHD: The increase in the quarter’s pre-tax profit was offset slightly by the share of losses from its associated company, Country Garden (M) Properties Sdn Bhd (“CGPM”) due to the soft property market]

2Q20 vs 2Q19:
For the quarter under review, the Group recorded a revenue of 39.22 million (2Q2019: RM26.15 million) and a pre-tax profit of RM7.18 million (2Q2019: RM0.18 million). The increase in the quarter’s revenue and pre-tax profit was attributed mainly to the property division, offset slightly by the share of losses from its associated company, Country Garden (M) Properties Sdn Bhd (“CGPM”) due to the soft property market.

Property division:
The property division registered a revenue of RM33.84 million (2Q2019: RM20.10 million) and an operating profit of RM11.31 million (2Q2019: RM3.06 million).

Education division:
The education division recorded a revenue of RM4.44 million (2Q2019: RM3.46 million) and an operating profit of RM0.94 million (2Q2019: RM1.08 million). The division’s operating profit has dropped due to higher overheads following the recruitment of additional teachers from August 2019 in line with its international school expansion plans.

Other division:
Other divisions recorded an operating loss of RM1.99 million (2Q2019: an operating profit of RM0.69 million) on the back of a revenue of RM0.93 million (2Q2019: RM2.59 million). The lower revenue for the current quarter was due to no dividend income received from other investments for the quarter (2Q2019 : RM0.6 million dividend) and lower returns on short-term funds following dividend payout to
shareholders. The division’s pre-tax losses for the current quarter arose mainly from higher overhead on Putrajaya office and also accretion of interest expenses on its contingent consideration payable to its associate company, CGPM.

YTD20 vs YTD19:
For the 6 months period under review, the Group registered a pre-tax profit of RM15.60 million (2Q2019: RM3.14 million) on the back of a revenue of RM83.63 million (2Q2019: RM48.23 million) mainly due to higher contribution from property division.

Property division:
The property division recorded a revenue of RM72.65 million (2Q2019: RM35.55 million) and an operating profit of RM19.52 million (2Q2019: RM5.10 million) for the period.

Education division:
The education division posted a revenue of RM8.77 million (2Q2019: RM7.07 million) and an operating profit of RM2.47 million (2Q2019: RM2.13 million) with the increase in fees assisted by the increase in students’ enrolment for both its private school and international school.

Other division:
On the back of a revenue of RM2.21 million (2Q2019: RM5.60 million), other division recorded an operating loss of RM3.02 million (2Q2019: an operating profit of RM2.72 million) for the period ended 30 September 2019. The operating losses in the current period compared to corresponding period of the preceding year was mainly due to higher overhead on Putrajaya office and interest expenses, and also no interest income accretion on advances to associate, CGPM.

2Q20 vs 1Q20:
The Group’s revenue and pre-tax profit stood at RM39.22 million (1Q2020: RM44.41 million) and RM7.18 million (1Q2020: RM8.42 million) respectively. The material changes in pre-tax profit for the preceding quarter of the current year were mainly due to the
following:-

-the net writeback of RM5.58 million on accrued costs from property division, and
-the share of losses from its associated company, CGPM.

Prospects:
The property market is expected to remain challenging for the remaining financial year. The Group also expects a rise in student enrolment in its private and international schools in the coming quarters.
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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://klse.i3investor.com/blogs/general/2020-02-07-story-h1483080351.jsp
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