[MGB (7595) 创建集团 MGB BHD：房地产开发业绩的改善减轻了负面影响，并导致PAT的小幅增长] - James的股票投资James Share Investing
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 RM2.45 (dividend RM0.04) in 1 year 10 months 13 days, total return is 248.3%
b) TOPGLOV (TOP GLOVE CORP BHD), recommended on 1 July 18, initial price was RM12.14, rose to RM29.80 (adjusted)(dividend RM0.52) in 1 Year 11 months 24 days, total return is 149.8%
c) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM3.74 (adjusted)(dividend RM0.055) in 1 Year 23 days, total return is 127.2%
d) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.65 (dividend RM0.04) in 1 year 11 months 24 days, total return is 112.6%
e) OPENSYS (OPENSYS M BHD), recommended on 24 May 20, initial price was RM0.355, rose to RM0.68 in 1 month 2 days, total return is 91.5%
f) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM2.23 (dividend RM0.188) in 1 Year 8 months 18 days, total return is 52.1%
g) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.87 in 1 year 5 months 5 days, total return is 51.3%
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[MGB BHD: improved performance from property development has mitigated the negative effect and resulted a marginal increased in PAT]
Despite the significant dip in revenue and PBT of the construction segment due to soft profit and delayed construction progress since MCO implemented, the improved performance from property development has mitigated the negative effect and resulted a marginal increased in PAT.
The financial performance of the Group is weaker in current quarter under review.
Bank Negara has proactively reduced the Overnight Policy Rate (OPR) from 2.5% to 2.0% with the last reduction was on 5 May 2020, which should cushion the consequential financial impact on the economy. To improve the economic risks, Government has been introducing stimulus packages from time to time during this critical period with the aim to alleviate the pandemic’s immediate impact. Amongst others include wages subsidy, moratorium on loan repayment, extension of time for statutory contribution, tax revision, levies reduction and others.
Further, on 5 June 2020, Government unveiled the Short-Term Economic Recovery Plan (STERP) whereby 1 of the initiative was the exemption of the real property gain tax for disposal up to three (3) units of residential homes by an individual from 1 June 2020 to 31 December 2021. Not forgetting the Home Ownership Campaign (HOC), which ran throughout 2019, was designed to encourage the increase in home ownership among Malaysians is now extended till 2021.
Although the market environment remain challenging for the Group for the financial year ending 31 December 2020, but tapping on all the initiatives and stimulating measures from the Government, the Group is confident that the economy will recover at its optimum pace and subsequently boost consumer’s sentiment and spending on property market.
MGB Group is looking forward to play the role as core developer of affordable houses on the back of several joint venture / development right agreements entered recently with land-owners. The self-supply of precast concrete panels is expected to reduce the time and labour cost in the development project which eventually enhance the profitability.
They will review all functions within the Group vigilantly and be self-conscious, era-conscious, social-conscious and leak-conscious to increase efficiency, align to public needs and prevent unnecessary profit leaking at all times. Barring any unforeseen circumstances, the Board is cautiously optimistic that the Group will perform satisfactorily in year 2020.
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