[ECONPILE HOLDINGS BHD ECONBHD (5253) 億鋼控股：本地建筑市场疲弱，加上由于2020年3月18日的Covid-19大流行，马来西亚政府执行了《马来西亚行动控制令》（MCO），导致本季度建筑工地的工作日缩短] - James的股票投资James Share Investing
物业发展项目的打桩和地基工程带来的收入贡献继续占集团收入的主导，达2亿6700万令吉或71.7％（19财年第三季度为3亿7070万令吉或76.2％），而其余的收入则来自基础设施和其他部门的打桩和基础工程，总额达1.054亿令吉或28.3％（19财年第三季度 - 1.160亿令吉或23.8％）。
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 RM0.04) in 1 year 10 months 4 days, total return is 253.8%
b) TOPGLOV (TOP GLOVE CORP BHD), recommended on 1 July 18, initial price was RM12.14, rose to RM31.92 (adjusted)(dividend RM0.32) in 1 Year 11 months 15 days, total return is 165.6%
c) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM3.66 (adjusted)(dividend RM0.055) in 1 Year 14 days, total return is 122.5%
d) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.68 (dividend RM0.04) in 1 year 11 months 15 days, total return is 116.4%
e) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.905 in 1 year 4 months 27 days, total return is 57.4%
f) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM2.23 (dividend RM0.148) in 1 Year 8 months 9 days, total return is 49.6%
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[ECONPILE HOLDINGS BHD: weaker local construction market coupled with a shorter working days for the current quarter due to the implementation of the Movement Control Order ("MCO") for construction site activites by the Government of Malaysia in light of the Covid-19 pandemic on 18 March 2020]
Revenue contribution from piling and foundation works from property development projects continue to dominate the Group's revenue, amounting to RM267.0 million or 71.7% (3QFY19 - RM370.7 million or 76.2%) and the remaining revenue derived from piling and foundation works from infrastructure and other segments amounting to RM105.4 million or 28.3% (3QFY19 - RM116.0 million or 23.8%).
The Group recorded a profit before tax of RM29.0 million for the current nine (9) months financial period ended 31 March 2020. The Group recorded a decline in current period revenue from both the piling segments from property development projects and infrastructure projects of RM103.7 million or 28.0% and RM10.6 million or 9.1% respectively, as a results of a weaker local construction market coupled with a shorter working days for the current quarter due to the implementation of the Movement Control Order ("MCO") for construction site activites by the Government of Malaysia in light of the Covid-19 pandemic on 18 March 2020. Included in Other Income during the current financial period is rental income of equipments and gain from disposal of machineries amounting to RM0.9 million as compared to RM2.0 million in the preceding year corresponding period.
In the current third quarter ended 31 March 2020, the Group recorded a lower revenue of RM38.4 million to RM99.3 million from RM137.7 million in the most recent preceeding quarter ended 31 December 2019. The piling and foundation works from property development projects and infrastructure projects during the current quarter ended 31 March 2020, amounted to RM75.8 million and RM23.5 million respectively, as compared to RM96.0 million and RM41.7 million respectively, in the preceeding quarter ended 31 December 2019. The decrease in revenue and gross profit for the current quarter as compared to the most recent preceeding quarter is due mainly to the shorter working days in the current quarter due to festive holiday break and MCO restriction on site activities since 18 March 2020.
As the world faces one of the worst crisis, the Covid-19 pandemic, Malaysia is not spared. As a result of this MCO, the construction sector which is deemed nonessential services, came to a grinding halt. On the back of the uncertainty over the multiplier effect of economic consequences resulting from the Covid-19 pandemic and the gradual re-commencement effects on the whole construction supply chain, their Group's operations and financial is adversely affected by such disruptions whilst more cost-cutting measures
may be implemented.
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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.