[MAH SING GROUP BHD：鉴于将现有订单转换为销售需要更长的时间，2020年的销售目标从之前的16亿令吉下调至11亿令吉]
James Ng Stock Pick Performance:
Since Recommended Return:
a. FRONTKEN CORP BHD, recommended on 12 Aug 18, initial price was RM0.715, rose to RM3.37, dividend RM0.052, in 2 years 1 month 10 days, total return is 378.6%
b. TOP GLOVE CORP BHD, recommended on 1 July 18, initial price was RM12.14, rose to RM48.18 adjusted, dividend RM0.52, in 2 Years 2 months 21 days, total return is 301.2%
c. MI TECHNOVATION BERHAD, recommended on 2 Jun 19, initial price was RM1.67, rose to RM5.82 adjusted, dividend RM0.055, in 1 Year 3 months 20 days, total return is 251.8%
d. CHIN HIN GROUP BHD, recommended on 2 Feb 20, initial price was RM0.57, rose to RM1.40, dividend RM0.01, in 7 months 20 days, total return is 147.4%
e. OPENSYS M BHD, recommended on 24 May 20, initial price was RM0.355, rose to RM0.825, dividend RM0.005, in 3 months 29 days, total return is 133.8%
f. INTA BINA GROUP BHD, recommended on 26 Apr 20, initial price was RM0.19, rose to RM0.33, in 4 months 27 days, total return is 73.7%
g. KAREX BHD, recommended on 20 Oct 19, initial price was RM0.445, rose to RM0.705, dividend RM0.015, in 11 months 2 days, total return is 61.8%
h. PROLEXUS BHD, recommended on 25 Aug 19, initial price was RM0.455, rose to RM0.72, dividend RM0.003, in 1 Year 28 days, total return is 58.9%
i. PERAK TRANSIT BHD, recommended on 19 July 20, initial price was RM0.18, rose to RM0.275, dividend RM0.0025, in 2 months 3 days, total return is 54.2%
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[MAH SING GROUP BHD: sales target for 2020 is revised down to RM1.1 billion from RM1.6 billion previously in view of a longer period required to convert existing bookings to sales]
For the six-month period ended 30 June 2020, the Group posted profit before tax of RM65.6 million on the back of revenue of RM669.8 million as compared to RM142 million profit before tax and RM931.6 million revenue a year ago. On a quarterly basis, the Group recorded profit before tax of RM22.4 million and revenue of RM298.6 million as compared to RM68 million profit before tax and RM481.2 million revenue in the same quarter last year.
For the period ended 30 June 2020, revenue from property development was RM510.8 million as compared to RM748.2 million a year ago while operating profit was RM75 million as compared to RM130.9 million a year ago. The property development segment reported lower revenue and profit as site progress of all projects came to a halt in compliance with the Movement Control Order("MCO"), and there were also delays in loan approvals for sales conversions, which weighed on revenue recognition. Although operations had resumed during the Conditional MCO, the level of activities on sites was generally lower due to adoption of strict standard operating procedures in compliance with relevant regulatory requirements.
The plastics segment recorded revenue of RM132.3 million and operating loss of RM0.9 million in the current period compared to revenue of RM156.2 million and operating profit of RM7 million in the previous year corresponding period. Lower revenue recorded in the current period was mainly due to lower orders for automotive parts pursuant to the suspension of automotive production during lockdown. The operating loss recorded in the current period was mainly attributable to the decrease in revenue and one-time write-offs of assets amounting to RM4.5 million due to a fire incident.
Persistently low occupancy rates caused by the Covid-19 pandemic, additional impairment charges for operating assets of approximately RM10 million and fixed operating expenses has resulted in operating loss for the current period of RM13.1 million as compared with RM7.3 million a year ago.
The Group’s current quarter profit before tax of RM22.4 million was lower as compared to the immediate preceding quarter of RM43.1 million.
The market environment is expected to remain challenging for the financial year ending 31 December 2020 as the nation grapples with the Covid-19 pandemic. The sales target for 2020 is revised down to RM1.1 billion from RM1.6 billion previously in view of a longer period required to convert existing bookings to sales.
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the forecasted growth of a company must over 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 firstname.lastname@example.org 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.