[ENGTEX GROUP BHD：本年度的表现仍将充满挑战，房地产开发物业部门不打算在其现有土地储备上启动任何房地产开发项目，因为此时房地产市场疲软]
相应的税前利润减少主要是由于某些金属相关贸易产品及其制造钢材的采购成本增加以及两个新制造厂在启动阶段的运营成本，以及房地产开发部门的收入减少。此外，税前利润包括2018年出售空置工业用地约210万令吉的收益，而去年同期约为840万令吉。
在当前国际和本地金属价格高波动期间以及营运资金需求增加，原材料采购和交易库存增加导致银行借款总额从2017年12月31日的5.481亿令吉增加至截至二零一八年九月三十日的RM6.135亿及现金及现金等价物由二零一七年十二月三十一日的1.118亿令吉减少至二零一八年九月三十日的七千四百四十万令吉。这导致净负债比率由31 December 2017的0.63倍增加至2018年9月30日的0.76倍，但集团的财务状况处于可控水平。
批发和分销部门：
该部门录得利润及税前利润分别为4300万令吉及2580万令吉，较2017年分别减少2.6％及6.3％。尽管收入增加，但除税前溢利减少主要是由于某些金属相关贸易产品的采购成本增加。
制造部门：
该部门录得较低利润及税前利润分别为3,010万令吉及1,180万令吉，较2017年分别减少39.9％及66.1％。2018年的税前营业利润为1,180万令吉，与2017年的2780万令吉（不包括出售一块空置工业用地的收益约为710万令吉）相比，较低，主要原因是原材料成本增加及在马六甲和彭亨两个新工厂的营运成本。
物业发展部门：
该部门录得税前亏损320万令吉，主要是由于疲软的房地产市场收入减少所致。
招待部门：
该部门录得的税前合并亏损为480万令吉，主要是由于本财政期间融资成本及折旧总额为440万令吉。
相比2018年6月30日止的上季，收入增加主要是由于某些金属相关贸易产品和制成品钢材的市场需求强劲，而税前利润的相应下降主要是由于某些交易产品和原材料的采购成本提高以及在Kepong和Selayang未售出的房地产的运营成本。
前景：
尽管正在对几个大型项目进行持续审查，但建筑相关材料的制造仍与建筑业的活动保持一致。非住宅地产的增长略有改善，而住宅房产的增长在未售出的住宅物业数量较多的情况下仍然疲弱。由于贸易紧张局势加剧以及若干新兴市场经济体的金融条件收紧，全球增长势头预计将在今年第四季度出现温和。
这集团于本年度的表现仍将充满挑战，因为其受国内需求，全球经济环境，国际及国内金属价格波动及推行建筑工程，公用事业，及基础设施和房地产开发部门等项目的时间点的影响。房地产开发物业部门不打算在其现有土地储备上启动任何房地产开发项目，除了出售在Kepong和Selayang剩余未售出的住宅和商业物业，因为此时房地产市场疲软。
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James Ng Stock Pick Performance:
Since Recommended Return:
a) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.09 in 1 month 5 days, total return is 36.3%
b) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM1.02 in 20 days, total return is 20%
c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.94 in 6 months 16 days, total return is 18.2%
d) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.18 (dividend RM0.0375) in 3 months 3 days, total return is 17.3%
e) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.10 in 25 days, total return is 14%
我希望将我的策略分享给读者，希望他们在阅读后能够表现出色。我正在使用基本面分析（Fundamental Analysis）：
预计公司每年的增长率必须> 14％
我想说服读者学习基本面分析FA以便能从股市赚钱。
我为想从马来西亚股票市场赚钱的读者提供STOCK PICK服务。想订阅我的邮件以从股票市场获取良好回报的人，可以通过 jamesngshare@gmail.com 或我的FB页面 https://web.facebook.com/jamesshareinvest/ 与我联系
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James Ng
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[ENGTEX GROUP BHD: performance of the Group in the current year will remain challenging, does not intend to launch any property development projects on its existing land bank, in light of the soft property market at this juncture]
The decrease in corresponding profit before tax was mainly due to increased procurement costs for certain metal related trading products and its manufactured steel products and the operating costs of two new manufacturing plants at their start-up stages, and lower revenue from the property development division. In addition, the profit before tax included gain on disposal of vacant industrial lands of approximately RM2.1 million in 2018 as compared to approximately RM8.4 million in the preceding year corresponding period.
The higher procurement of raw materials and trading inventories during the current period of high volatility in international and local metal prices and increased working capital requirement has resulted in the increase in total bank borrowings from RM548.1 million as at 31 December 2017 to RM613.5 million as at 30 September 2018 and reduction in the cash and cash equivalents from RM111.8 million as at 31 December 2017 to RM74.4 million as at 30 September 2018. This has led to the increase in net gearing from 0.63 times as at 31 December 2017 to 0.76 times as at 30 September 2018 but the Group’s financial position is at a manageable level.
Wholesale and distribution division:
The division recorded a segment profit and profit before tax of RM43.0 million and RM25.8 million respectively representing a decrease of 2.6% and 6.3% respectively as compared to 2017. The decline in profit before tax notwithstanding the increase in revenue was mainly due to the increase in procurement cost for certain metal related trading products.
Manufacturing division:
The division recorded a lower segment profit and profit before tax of RM30.1 million and RM11.8 million respectively representing a decrease of 39.9% and 66.1% respectively as compared to 2017. The operating profit before tax in 2018 of RM11.8 million was lower as compared to RM27.8 million (excluding the gain on disposal of a piece of vacant industrial land of approximately RM7.1 million) in 2017 mainly due to the increase in raw material costs and the operating cost of two new manufacturing plants located in Melaka and Pahang.
Property development division:
The division recorded a loss before tax of RM3.2 million mainly due to lower revenue arising from soft property market.
Hospitality division:
The division recorded a combined loss before tax of RM4.8 million mainly attributable to the finance cost and depreciation totaling RM4.4 million during the current financial period.
The increase in revenue as compared to preceding quarter ended 30 June 2018 was mainly due to strong market demand for certain metal related trading products and manufactured steel products whilst the corresponding decline in profit before taxation was mainly attributable to increase in procurement cost of certain trading products and raw materials, and operating cost of unsold property stocks in Kepong and Selayang.
Prospects:
Manufacture of construction related materials was sustained in line with activity in the construction sector despite the on-going review of several mega projects. Growth in the non-residential sub-sector improved slightly while growth in the residential sub-sector remained weak amidst the high number of unsold residential properties. The global growth momentum is projected to moderate in the fourth quarter of the year amidst intensifying trade tensions and tightening financial conditions among several emerging market economies.
The performance of the Group in the current year will remain challenging as it was affected by factors such as the domestic demand, global economic environment, the volatility in the international and domestic metal prices, and the timely implementation of projects in the construction, utilities and infrastructure and property development sectors. The property division does not intend to launch any property development projects on its existing land bank other than selling its remaining unsold residential and commercial properties in Kepong and Selayang in light of the soft property market at this juncture.
------------------------------------------------
James Ng Stock Pick Performance:
Since Recommended Return:
a) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.09 in 1 month 5 days, total return is 36.3%
b) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM1.02 in 20 days, total return is 20%
c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.94 in 6 months 16 days, total return is 18.2%
d) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.18 (dividend RM0.0375) in 3 months 3 days, total return is 17.3%
e) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.10 in 25 days, total return is 14%
I wish to share my strategy to readers, hope that they can perform well after reading this. I am using Fundamental Analysis:
the forecasted growth of a company must > 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 jamesngshare@gmail.com or PM me in my FB page https://web.facebook.com/jamesshareinvest/
In order to facilitate the query of the company and stock picking articles and videos I have written, an index has been produced. Everyone can find company and stock picking articles and videos from https://klse.i3investor.com/blogs/general/190362.jsp by date.
James的股票投资James Share Investing Blog: https://klse.i3investor.com/blogs/general/
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James Ng
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