1Q20 vs 1Q19:
房地产开发部门在本季度的收入主要来自“ Stonor 3”完整公寓单元的销售，与去年同期的4,770万令吉相比，减少了58％至2,010万令吉。
1Q20 vs 4Q19:
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 RM3.23 (dividend RM0.04) in 1 year 11 months 4 days, total return is 357.3%
b) TOPGLOV (TOP GLOVE CORP BHD), recommended on 1 July 18, initial price was RM12.14, rose to RM42.48 (adjusted)(dividend RM0.52) in 2 Years 15 days, total return is 254.2%
c) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM5.07 (adjusted)(dividend RM0.055) in 1 Year 1 month 14 days, total return is 206.9%
d) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.64 (dividend RM0.04) in 2 Years 15 days, total return is 111.3%
e) OPENSYS (OPENSYS M BHD), recommended on 24 May 20, initial price was RM0.355, rose to RM0.73 in 1 month 22 days, total return is 105.6%
f) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM2.18 (dividend RM0.188) in 1 Year 9 months 9 days, total return is 48.9%
g) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.845 in 1 year 5 months 25 days, total return is 47%
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[IGB BHD: lower contributions from the Property Development, Property Investment-Retail and Hotel divisions]
1Q20 vs 1Q19:
Group revenue decreased by 13% due to lower contributions from the Property Development and Hotel divisions. Group pre-tax profit decreased by 44% due mainly to lower contributions from the Property Development, Property Investment-Retail and Hotel divisions.
Property Investment – Retail:
For the 3 months ended 31 March 2020, IGB REIT reported total gross revenue and net property income of RM125.0 million (1Q2019: RM141.2 million) and RM88.4 million (1Q2019: RM103.5 million) respectively, a decrease of about 11% and 15% respectively.
Property Investment – Commercial:
For the 3 months ended 31 March 2020, this division contributed gross revenue and pre-tax profit of RM44.8 million (1Q2019: RM43.1 million) and RM24.3 million (1Q2019: RM21.4 million) respectively, an increase of about 4% and 14% respectively.
Revenue from the Property Development division during the current quarter, which was derived mainly from sales of completed condominium units at “Stonor 3”, decreased by 58% to RM20.1 million when compared to the same period last year of RM47.7 million.
Revenue contributed by the Hotel division for the 3 months to 31 March 2020 decreased by 40% to RM40.1 million (1Q2019: RM66.9 million) as a result of lower average occupancy rates across all hotels in the Group when compared to the corresponding period in the previous year.
1Q20 vs 4Q19:
Group revenue decreased by 32% to RM291.4 million from RM427.5 million in the preceding quarter due to lower contributions from all operating divisions. Accordingly, Group pre-tax profit decreased by 53% to RM61.8 million from RM130.7 million.
With the Global outbreak of the Covid-19 pandemic beginning from late last year and early 2020 and the imposition by the Malaysian Government of the Movement Control Order (“MCO”) from 18 March 2020, the outlook for the local economy remains uncertain at best and challenging in the near term.
The Group will not be spared from the negative impact of the pandemic. It is still early now to quantify the financial effects on the Group’s results for the current financial year ending 31 December 2020 which will to a large extent be dependent on the duration of the Covid-19 crisis and the continued negative impact on economic activity.
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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.