[CHIN WELL HOLDINGS BHD：持续的贸易紧张局势和全球市场的不确定性导致当前财政期间的营业额下降，订单也推迟到未来；由于市场竞争激烈，这集团不得不降低其产品的售价]
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 RM1.94 (dividend RM0.04) in 1 year 7 months 29 days, total return is 176.9%
b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.51 (dividend RM0.04) in 1 year 9 months 9 days, total return is 95%
c) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM3.00 (adjusted)(dividend RM0.055) in 10 months 8 days, total return is 82.9%
d) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.965 in 1 year 2 months 21 days, total return is 67.8%
e) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM1.91 (dividend RM0.148) in 1 Year 6 months 3 days, total return is 29.4%
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[CHIN WELL HOLDINGS BHD: The continuing trade tension and global market uncertainties resulted in both lower turnover for the current financial period and orders being deferred to the future; the Group had to reduce the selling price of its products as a result of stiff competition in the market]
During the current financial period to date, the Group recorded a total revenue and total profit before tax of RM303.17 million and RM13.95 million respectively. Total revenue of the Group reduced by 11.2% in the current period to date. The continuing trade tension and global market uncertainties resulted in both lower turnover for the current financial period and orders being deferred to the future. The Group had to reduce the selling price of its products as a result of stiff competition in the market. As a result, the Group recorded a lower profit before tax of RM13.95 million for the current reporting period.
The equity attributable to the owners of the Company stands at RM575.92 million as at 31.12.2019 as compared to RM577.37 million as at 30.6.2019 after the declaration of dividends amounting to RM9.84 million set off with the earnings generated in the current financial period.
The Fasteners Products Division recorded a lower revenue of RM119.37 million in the current reporting quarter which represents a decrease of 3.2% as compared to the preceding year corresponding period while the profit before tax of the division dropped by RM12.06 million to RM5.05 million. The unresolved global trade tension, pro-long Brexit's uncertainties, the economic downturn in Europe and stiff competition in Asia had adversely affected the performance of the Group in the current reporting quarter.
The Wire Products Division recorded a decrease of 32.3% in its current quarter revenue as compared to RM41.85 million in the preceding year corresponding quarter. The Wire Product Divison faced stiff competition and lower sales to the Middle East during the current quarter. In line with the lower revenue the profit before tax of RM0.15 million is recorded in the current reporting quarter as compared to RM1.21 million in the corresponding quarter in the immediate preceding year.
Fasteners Products Division:
The division recorded a total revenue of RM246.92 million in the current financial period to date which represents a decrease of 4.3% as compared to the preceding financial year. Fasteners sales decreased to RM51.48 million. The margin derived from trading is lower than the manufacturing of fasteners. This coupled with the price competition resulted in the profit before tax of the division decreasing by RM22.96 million to RM13.12 million in the current reporting period to date.
Wire Products Division:
The Wire Products Division recorded a revenue of RM56.25 million and profit before tax of RM0.44 million in the current financial period to date which represented a drop of 32.7% and 87.3% respectively as compared to the corresponding reporting period.
The revenue of the Fastener Products Divisionis RM119.37 million in the current quarter as compared to RM127.55 million in the immediate preceding quarter. As a result, profit before tax of the division decreased to RM5.05 million in the current quarter as compared to previous quarter of RM8.08 million. The performance of the division was affected by the continuing global economic issues during the reporting quarter which caused the decline in demand for fasteners.
The Wire division registered a profit before tax of RM0.15 million in the current quarter as compared to RM0.28 million in the immediate preceding quarter.
The market outlook for the Group in the remaining quarters of the current financial year is expected to remain challenging in view of the existing global market conditions such as the trade tension, economy downturn in Europe and the outbreak of corona virus and its implications. The unexpected global market movement and political issues will impact the changes in the raw material cost and bottom line of the Group. The trade war between the US government and China had created the market uncertainties in Europe and US. Barring any unforeseen circumstances, the Group anticipates satisfactory performance in the current financial year.
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the forecasted growth of a company must > 14% per year
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