[PANASONIC MANUFACTURING MALAYSIA BHD：马来西亚政府实施了行动控制令（MCO），因此无法满足该时期的一些销售订单。国内销售受到的影响最大，本季度仅占总收入的21％，而去年同期的贡献为49％]
1Q21 vs 1Q20:
1Q21 vs 4Q20：
James Ng Stock Pick Performance:
Since Recommended Return:
a. FRONTKEN CORP BHD, recommended on 12 Aug 18, initial price was RM0.715, rose to RM3.50, dividend RM0.052, in 2 years 1 month 13 days, total return is 396.8%
b. TOP GLOVE CORP BHD, recommended on 1 July 18, initial price was RM12.14, rose to RM52.80 adjusted, dividend RM0.52, in 2 Years 2 months 24 days, total return is 339.2%
c. MI TECHNOVATION BERHAD, recommended on 2 Jun 19, initial price was RM1.67, rose to RM5.90 adjusted, dividend RM0.055, in 1 Year 3 months 23 days, total return is 256.6%
d. CHIN HIN GROUP BHD, recommended on 2 Feb 20, initial price was RM0.57, rose to RM1.38, dividend RM0.01, in 7 months 23 days, total return is 143.9%
e. OPENSYS M BHD, recommended on 24 May 20, initial price was RM0.355, rose to RM0.82, dividend RM0.005, in 4 months 1 day, total return is 132.4%
f. INTA BINA GROUP BHD, recommended on 26 Apr 20, initial price was RM0.19, rose to RM0.35, in 4 months 30 days, total return is 84.2%
g. PROLEXUS BHD, recommended on 25 Aug 19, initial price was RM0.455, rose to RM0.785, dividend RM0.003, in 1 Year 1 month, total return is 73.2%
h. KAREX BHD, recommended on 20 Oct 19, initial price was RM0.445, rose to RM0.74, dividend RM0.015, in 11 months 5 days, total return is 69.7%
i. PERAK TRANSIT BHD, recommended on 19 July 20, initial price was RM0.18, rose to RM0.285, dividend RM0.0025, in 2 months 6 days, total return is 59.7%
j. JAKS RESOURCES BHD, recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.83, in 1 year 8 months 5 days, total return is 44.3%
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[PANASONIC MANUFACTURING MALAYSIA BHD: Some of the sales orders for this period could not be met due to the shutdown of the plant on the Malaysian Government’s implementation of the Movement Control Order (MCO). Domestic sales was most impacted, contributing only 21% of total revenue in this quarter as compared to previous year’s contribution of 49%]
1Q21 vs 1Q20:
The Company’s revenue of RM154.1 million for the current quarter ended 30 June 2020 was significantly lower by 47.1% or RM137.3 million as compared with the revenue of RM291.4 million registered in the previous year’s corresponding quarter. Some of the sales orders for this period could not be met due to the shutdown of the plant from 18 March 2020 till early May 2020 on the Malaysian Government’s implementation of the Movement Control Order (MCO). Domestic sales was most impacted, contributing only 21% of total revenue in this quarter as compared to previous year’s contribution of 49%.
Consequently, the Company’s results from operating activities registered a loss of RM4.2 million as compared to a profit of RM 30.4 million registered the previous year’s corresponding quarter. At the Company’s combined profit before tax level, the current quarter registered a loss before tax of RM3.8 million, a decrease of RM38.9 million as compared to the previous year’s corresponding quarter profit of RM35.1 million. This was attributed mainly to:-
(i) lower revenue,
(ii) the reduction in interest income by RM2.3 million as interest rates and placement amount was lower, and;
(iii) a higher share of losses of associated company’s results amounting to RM2.9 million as compared to a lower loss of RM1.0 million in the previous year’s corresponding quarter. The performance of the associated company was also affected by the implementation of MCO.
Both segments’ revenue have been significantly impacted by the MCO with Home Appliance products segment and Fan products segment achieving only 54% and 52% of the revenue recorded in the previous year’s corresponding quarter respectively. With the lower sales achieved, the Home Appliance products segment recorded a loss before tax of RM2.6 million for the current quarter ended 30 June 2020 as compared to a profit before tax of RM 10.8 million in the previous year’s corresponding quarter.
Fan products segment was able to record a marginal profit before tax of RM4.1 million for the current quarter ended 30 June 2020, a decrease of 81.8% or RM18.6 million as compared to the profit before tax in the previous year’s corresponding quarter profit before tax of RM22.7 million.
1Q21 vs 4Q20:
The Company’s revenue of RM154.1 million in the current quarter was lower by 24.7% or RM50.6 million compared to the revenue of RM204.7 million recorded in the preceding quarter. The lower revenue was mainly due to the prolonged effect of the MCO. The Company’s combined loss before tax of RM3.8 million for the current quarter decreased by RM37.7 million as compared to the combined profit before tax of RM33.9 million in the preceding quarter; mainly attributable to lower revenue achieved, foreign exchange losses and other operating costs incurred during the current quarter under review. In addition, the associated company incurred losses as compared to profits in the preceding quarter.
The COVID-19 pandemic that the world is facing now is unprecedented and its impact on the global economy is severe. Global growth is projected to be negative for 2020 due to various containment measures implemented by many major economies to limit the spread of the virus.
Downside risks to the global outlook remain, especially if a resurgence in the pandemic necessitates the reintroduction of containment measures. In Malaysia, Bank Negara recently announced that the economy contracted by 17.1% in the second quarter of 2020 arising from weak external demand and strict containment measures imposed. To further strengthen its manufacturing capabilities, the Company will forge ahead with its digitalization and automation plans.
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