[TAN CHONG MOTOR HOLDINGS BHD：COVID-19大流行严重影响了全球和我国的经济活动，从而严重影响了绩效。本地企业在行动控制令（MCO）期间无法运营]
James Ng Stock Pick Performance:
Since Recommended Return:
a. FRONTKEN CORP BHD, recommended on 12 Aug 18, initial price was RM0.715, rose to RM3.72, dividend RM0.052, in 2 years 1 month 27 days, total return is 427.6%
b. TOP GLOVE CORP BHD, recommended on 1 July 18, initial price was RM12.14, rose to RM52.86 adjusted, dividend RM0.52, in 2 Years 3 months 7 days, total return is 339.7%
c. MI TECHNOVATION BERHAD, recommended on 2 Jun 19, initial price was RM1.67, rose to RM6.39 adjusted, dividend RM0.055, in 1 Year 4 months 7 days, total return is 285.9%
d. PROLEXUS BHD, recommended on 25 Aug 19, initial price was RM0.455, rose to RM1.64, dividend RM0.003, in 1 Year 1 month 14 days, total return is 261.1%
e. OPENSYS M BHD, recommended on 24 May 20, initial price was RM0.355, rose to RM0.95, dividend RM0.005, in 4 months 15 days, total return is 169%
f. CHIN HIN GROUP BHD, recommended on 2 Feb 20, initial price was RM0.57, rose to RM1.37, dividend RM0.02, in 8 months 7 days, total return is 143.9%
g. INTA BINA GROUP BHD, recommended on 26 Apr 20, initial price was RM0.19, rose to RM0.335, in 5 months 13 days, total return is 76.3%
h. KAREX BHD, recommended on 20 Oct 19, initial price was RM0.445, rose to RM0.72, dividend RM0.015, in 11 months 19 days, total return is 65.2%
i. PERAK TRANSIT BHD, recommended on 19 July 20, initial price was RM0.18, rose to RM0.28, dividend RM0.0025, in 2 months 20 days, total return is 56.9%
j. UNISEM (M) BHD, recommended on 19 May 19, initial price was RM2.58, rose to RM3.93, dividend RM0.08, in 1 Year 4 months 20 days, total return is 55.4%
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[TAN CHONG MOTOR HOLDINGS BHD: The performance was significantly affected by the COVID-19 pandemic which has plagued global and local economic activities. The local businesses were unable to operate during the Movement Control Order (“MCO”) period]
For the quarter ended 30 June 2020, the Group recorded revenue of RM512.9 million and loss before tax of RM86.3 million, a decrease of 51.9% and 311.6% respectively compared to the same quarter preceding year. For the 6 months period ended 30 June 2020, the Group recorded revenue of RM1,247.2 million and loss before tax of RM86.1 million, a decrease of 41.9% and 222.1% respectively compared to the same period preceding year.
Vehicles Assembly, Manufacturing, Distribution & After-Sales Service (Automotive):
The automotive division recorded a lower revenue of RM492.7 million in the current quarter under review (-52.7% year-on-year (“YoY”)) and a Loss Before Interest, Tax, Depreciation and Amortization (“LBITDA”) of RM17.5 million (-121.7% YoY). As for the 6 months period ended 30 June 2020, the automotive division recorded a lower revenue of RM1,202.2 million (-42.7% YoY) and lower Earnings Before Interest, Tax, Depreciation and Amortization (“EBITDA”) of RM10.3 million (-93.1% YoY).
The performance was significantly affected by the COVID-19 pandemic which has plagued global and local economic activities. The local businesses were unable to operate during the Movement Control Order (“MCO”) period. The businesses in the overseas markets have also been affected by the pandemic, albeit to a lesser extent. These disruptions have led to a decline in revenue and EBITDA compared to preceding year.
Financial Services (Hire Purchase and Insurance):
The financial services division recorded a lower revenue of RM15.5 million in the current quarter under review (-26.1% YoY) and a LBITDA of RM16.8 million (-343.3% YoY). As for the 6 months period ended 30 June 2020, the financial services division recorded a lower revenue of RM34.5 million (-20.4% YoY) and LBITDA of RM13.0 million (-201.0% YoY).The loss suffered by the division was mainly due to higher impairment loss on hire purchase receivables recognised during the quarter as collections were significantly lower during the MCO period.
Other Operations (Investments and Properties):
Revenue from Other Operations was slightly higher at RM4.7 million in the current quarter under review (+16.0% YoY) but EBITDA was lower at RM0.6 million (-88.7% YoY), mainly caused by a lower net foreign exchange gain in the current quarter. As for the 6 months period ended 30 June 2020, revenue from Other Operations was higher at RM10.5 million (+43.0% YoY) and EBITDA improved to RM16.9 million (+494.1% YoY).
In the second quarter of 2020, Malaysia’s Gross Domestic Product (“GDP”) contracted 17.1% due to the unprecedented impact of the COVID-19 pandemic. The MCO imposed by the Government of Malaysia on 18 March 2020 and Conditional MCO from 4 May 2020 to 9 June 2020, have impacted the Group’s business operations nationwide. Similarly, in the other countries where they have operations, namely Vietnam, Myanmar, Laos and Cambodia, varying degrees of lockdown measures have also been implemented. Their performance in these countries were also affected as a result of the lockdown, albeit to a lesser extent compared to the local market in Malaysia. The Group will continue to take active measures to improve its competitiveness in all the markets they operate in and maintain their focus on the key business strategies to drive business growth and achieve operational sustainability.
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the forecasted growth of a company must over 14% per year
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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.