[AWC BHD：特许权协议合同为期10年，从1.1.16到31.12.25；初始年率首5年设定为约5,200万令吉，从第6年到第10年自动增加至每年5,900万令吉]
设施部：
QoQ：
20财年第二季度的收入为4,870万令吉，而20财年第一季度为4,220万令吉。收入增加了650万令吉/15.4%，主要归因于本季度的新商业项目。由于上述原因以及持续降低运营成本的举措，该部门的20财年第二季度的税前利润从20财年第一季度的500万令吉提高至550万令吉。
2Q20 vs 2Q19：
同期的19财年第二季度相比，20财年第二季度的收入略微提高了98万令吉/2.1%。 PBT在本季度的20Q2增长了70万令吉/14.4%，而上一财年同期的19Q2财年则受到未预算成本130万令吉的压制。
环境部：
QoQ：
该部门在本季度的收入较上一季度Q1/FY20的1,440万令吉略增至1,450万令吉，这在很大程度上是由于项目进度持续慢于预期。 PBT减少了120万令吉/-75.0%，即从20财年第一季度的160万令吉降至20财年第二季度的40万令吉，因为项目尚未进入更高价值的里程碑。
2Q20 vs 2Q19：
部门的PBT在20财年第2季度减少了260万令吉/-85.9%，较去年同期的19财年第2季度减少。
工程部：
QoQ：
该部门报告其20财年第二季度的LBT为350万令吉，而20财年第一季度的PBT为40万令吉。
2Q20 vs 2Q19：
水管部门的项目进度改善，部分缓解了收入减少的情况。该部门在20财年第2季度记录了350万令吉的LBT，而上一财年Q2/FY19对应的PBT为130万令吉。
铁路部：
QoQ：
PBT也从20财年第一季度的520万令吉减少460万令吉/-88.5%至20财年第二季度的60万令吉。
2Q20 vs 2Q19：
与19财年第二季度相比，20财年第二季度的PBT下降了260万令吉/-81.7%。
集团QoQ：
由于工程的Aircond部门和铁路部门所产生的不利问题，这季度的PBT也大幅减少了950万令吉/-79.1%。
前景：
董事会对这集团本财政年度下半年的表现仍然保持谨慎乐观，这在很大程度上要归功于集团强劲的订单。
设施部：
续签南部地区（柔佛州，马六甲，森美兰州）和砂拉越的特许经营权的特许权协议（CA）于2016年3月上旬签署。该合同为期10年，从1.1.16到31.12.25。初始年率首5年设定为约5,200万令吉，从第6年到第10年自动增加至每年5,900万令吉。
此外，他们还与新的CA签署了一项合同，在未来7年内进行关键资产翻新计划或CARP。根据该合同，他们将根据预定的时间在各个地点进行CARP。根据这项CARP，他们将在10年（新的特许期）内获得1.4亿令吉，每月约116万令吉。
这两份合同极大地改善了集团的长期前景。他们期望在未来几年中从CARP合同中为其收入和利润表现做出积极贡献。此外，他们目前在商业和医疗保健领域承担某些维护合同，这些合同通常为期两到五年。他们希望这些合同将继续为他们的前景做出积极的贡献。
环境部：
环境部手头上的合同将在接下来的三个财政年度中执行。该部门的前景仍然乐观，因为他们预计项目的进展和认可度将在未来几个季度有所改善。
空调部门：
由于该部门承担的项目已进入Defects Liability Period (DLP)，并且没有新的投标/项目参与，因此他们预计该部门不会进一步产生重大的负面影响。此外，管理层已经精简和合理化了该部门的运营成本结构，以符合为DLP中现有的项目提供服务的要求。
水管部门：
该部门承担的项目预计将继续取得可观的进展，并有望在未来三个财政年度中继续发挥积极作用。
铁路部：
收购Trackwork & Supplies Sdn. Bhd. (“Trackwork”) 60％的股份于2018年10月初完成。根据收购条款，卖方分别为Trackwork的FYE 30 September 2018和FYE 30 September 2019提供了800万令吉和1200万令吉的税后利润保证。FYE 30 September 2018的利润保证轻松得到满足。尽管由于设计变更和重新谈判而导致某些项目被推迟，但该部门仍在积极探索要引入国内和区域市场的新机遇和新产品。
-----------------------------
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 RM2.05 (dividend RM0.04) in 1 year 7 months 22 days, total return is 192.3%
b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.48 (dividend RM0.04) in 1 year 9 months 2 days, total return is 91.2%
c) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM2.87 (adjusted)(dividend RM0.055) in 10 months 1 day, total return is 75.1%
d) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.85 in 1 year 2 months 14 days, total return is 47.8%
e) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM1.90 (dividend RM0.148) in 1 Year 5 months 27 days, total return is 28.8%
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
7月5日星期日：Espira Sri Petaling, KL 3份点心
7月11日星期六：Silka Johor Bahru Hotel, Johor Bahru 7份点心
7月19日星期日：AG Hotel Penang, George Town 2份点心
2)【股票-实际操作班】课程：
10a.m. – 9p.m.，免费午餐和晚餐
7月4日星期六：Espira Sri Petaling, KL
7月12日星期日：Silka Johor Bahru Hotel, Johor Bahru
7月18日星期六：AG Hotel Penang, George Town
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
------------------
[AWC BHD: Concession Agreement contract is for 10 years, from 1.1.16 to 31.12.25; initial rate p.a. is set at approximately RM52 mil for the first 5 years, with automatic increase to RM59m p.a. from year 6 to 10]
Facilities Division:
QoQ:
Revenue for Q2/FY20 amounted to RM48.7m, compared to RM42.2m in Q1/FY20. The revenue increased by RM6.5m/15.4% was mainly attributable to new commercial projects during the current quarter under review. Arising from the above as well as continued initiatives to improve operational costs, the division’s PBT for Q2/FY20 increased to RM5.5m from RM5.0m in Q1/FY20.
2Q20 vs 2Q19:
The revenue for the current quarter Q2/FY20 was marginally higher by RM0.98m/2.1% against preceding year corresponding quarter Q2/FY19. The PBT had increased by RM0.7m/14.4% in the current quarter Q2/FY20 against preceding year’s corresponding quarter Q2/FY19 which was weighed down by unbudgeted cost of RM1.3mil.
Environment Division:
QoQ:
The division’s revenue for the current quarter under review was marginally higher at RM14.5m compared to the immediate preceding quarter Q1/FY20, at RM14.4m due largely to continued slower than expected progress from projects. PBT decreased by RM1.2m/-75.0% i.e from RM1.6m in Q1/FY20 to RM0.4m in Q2/FY20 as projects have not progressed into higher value milestones.
2Q20 vs 2Q19:
PBT of the division decreased by RM2.6m/-85.9% in Q2/FY20 against preceding year corresponding quarter Q2/FY19.
Engineering Division:
QoQ:
The division had reported a LBT of RM3.5m in Q2/FY20 against PBT of RM0.4m in Q1/FY20.
2Q20 vs 2Q19:
Decrease in revenue was partly mitigated by improved project progress of the Plumbing segment. The division had recorded LBT of RM3.5m in Q2/FY20 against PBT of RM1.3m in preceding year corresponding quarter Q2/FY19.
Rail Division:
QoQ:
PBT had also decreased by RM4.6m/-88.5% from RM5.2m in Q1/FY20 to RM0.6m in Q2/FY20.
2Q20 vs 2Q19:
The PBT has decreased by RM2.6m/-81.7% in Q2FY20 against Q2FY19.
Group QoQ:
PBT for the quarter under review had also decreased significantly by RM9.5m/-79.1% due to less than favorable issues arising from the Aircond segment of the Engineering and Rail divisions.
Prospects:
The Board remains cautiously optimistic of the Group’s performance for the second half of the current financial year which will largely be underpinned by the Group’s robust orderbook.
Facilities Division:
The Concession Agreement (CA) for the renewal of the maintenance concession for the Southern Region (Johor, Malacca, Negeri Sembilan) and Sarawak was signed in early March 2016. This contract is for 10 years, from 1.1.16 to 31.12.25. Initial rate p.a. is set at approximately RM52 mil for the first 5 years, with automatic increase to RM59m p.a. from year 6 to 10.
In addition, together with the new CA, they also signed a contract to undertake the Critical Asset Refurbishment Programme, or CARP, over the next seven years. Under this contract, they are to undertake the CARP over various locations, and based on predetermined timing/schedules. Under this CARP they are to be paid RM140m over ten years (the renewed concession period), equaling approximately RM1.16m monthly.
These two contracts significantly improve the Group’s long-term prospects. They expect positive contribution to their revenue and profit performance from their CARP contract over the next several years. Also, they currently undertake certain maintenance contracts in the commercial and healthcare segments where these contracts are generally for two to five year periods. They expect these contracts to continuing to contribute positively to their prospects.
Environment Division:
The Environment Division has contracts on hand that will tide it over for the next three financial years. Prospects remain positive for this Division as they expect projects progress and recognition to improve over the coming quarters.
Air conditioning segment:
As projects undertaken by this segment have largely entered into Defects Liability Period (DLP) with no new tender/project participations, they do not expect further material negative contributions from this segment moving forward. Additionally, the Management has streamlined and rationalized the operational cost structure of this segment to be in line with serving out the existing projects which are now in DLP.
Plumbing segment:
Projects undertaken by the segment are expected to continue recording decent progress and are expected to continue contributing positively over the next three financial years.
Rail Division:
The acquisition of 60% in Trackwork & Supplies Sdn. Bhd. (“Trackwork”) was completed in early October 2018. Under the terms of the acquisition, the sellers have provided a profit guarantee of RM8m and RM12m profit after tax for Trackwork’s FYE 30 September 2018 and FYE 30 September 2019 respectively. The profit guarantee for the FYE 30 September 2018 was comfortably met. Although some of the projects undertaken had been delayed due to design changes and renegotiations, the division actively explores new opportunities and products to be introduced to the domestic as well as regional markets.
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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/2020-04-05-story-h1485814492.jsp
