[BATU KAWAN BHD：如果毛棕榈油价格能够持续恢复，那么2019财政年度集团种植园的利润前景将会令人满意，预计巴都加湾的油脂化学业务将通过提高产能利用率和提高利润率来维持其业绩]
1Q19 vs 1Q18:
集团的税前利润较低，为3亿6283万令吉（1Q2018：3.8847亿令吉），收入下降20.8％至42.19亿令吉（1Q2018：53.25亿令吉）。
种植园：尽管FFB产量有所改善，但当前季度的利润受到CPO和PK销售价格疲软的影响。
制造业报告盈利减少28.0％至1.252亿令吉（1Q2018：1.7385亿令吉），而收入则下降11.9％至23.1721亿令吉（1Q2018：26.3162亿令吉）。
油脂化学部门的销售价格下降，使当前季度的利润减少了31.1％至9454万令吉（1Q2018：1.3708亿令吉）。由于销售价格下降和能源成本上升，化工部门的利润下降17.5％至2930万令吉（1Q2018：3550万令吉）。
物业发展实现了更高的利润1,113万令吉（1Q2018：173万令吉），因为收入增加至3,981万令吉（1Q2018：1,788万令吉）。
投资控股/其他部门实现利润大幅增长197.6％至9,812万令吉（1Q2018：亏损1亿零54万令吉），主要归因于3798万令吉（1Q2018：RM1.206亿）外币兑换利润（以外币计价的公司间贷款），农业部门的利润增加5,654万令吉（1Q2018：3,194万令吉），来自增加的种植面积的作物产量较大，以及2,250万令吉（2018年第一季度：1,360万令吉）政府收购种植园土地的盈余。
1Q19 vs 4Q18：
本季度，集团的税前利润增长51.6％至3亿6283万令吉，而上一季度报告为2.3935亿令吉，而收入略微较低42.19亿令吉（4Q2018：43.2237亿令吉）。
种植园的毛棕榈油和PK销售价格下降导致利润下降27.1％至1.2839亿令吉（4Q2018：1.7615亿令吉），未收获的FFB公允价值减少至930万令吉（4Q2018：价值增加1100万令吉）和CPO生产成本的增加。
制造业的利润大幅增加85.6％至1.252亿令吉（4Q2018：6,745万令吉），尽管收入下降9.2％至23.1721亿令吉（4Q2018：25.5234亿令吉）。
油脂化学部门的利润高达9,454万令吉（4Q2018：3203万令吉），主要来自马来西亚业务的利润率较高。由于未偿还衍生工具合约的公允价值变动，本季度的较高利润也得益于2114万令吉未实现收益（4Q2018：未实现亏损939万令吉）。由于销售价格下降和能源成本上升，化工部门的利润下降15.4％至2930万令吉（1Q2018：2540万令吉）。
物业发展部门录得利润减少至1113万令吉（4Q2018：2125万令吉），收入下跌44.3％至3,981万令吉（4Q2018：7153万令吉）。
投资控股/其他部门业绩大幅上升484.8％至9,811万令吉（4Q2018：亏损2550万令吉），主要由于外汇货币收益为3,798万令吉（4Q2018：亏损1,586万令吉）（以外币计价的公司间贷款），农业部门的利润为5,654万令吉（4Q2018：损失770万令吉），来自增加的种植面积的作物产量较大，以及2,250万令吉（4Q2018：零）来自政府收购种植园土地。
前景：
毛棕榈油价格已经从之前的季度低位回升。他们乐观地认为，如果能够持续恢复，那么2019财政年度集团种植园的利润前景将会令人满意。预计巴都加湾的油脂化学业务将通过提高产能利用率和提高利润率来维持其业绩。尽管能源和原材料成本上升影响了工业化学品部门的利润，但预计这一利润仍然令人满意。总体而言，巴都加湾预计2019财年的利润将相当令人满意。
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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 RM1.38 in 3 months 20 days, total return is 72.5%
b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.29 in 9 months 4 day, total return is 62.3%
c) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM1.14 (dividend RM0.015) in 7 months 24 days, total return is 61.5%
d) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.86 in 2 months 16 days, total return is 49.6%
e) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.26 in 3 months 13 days, total return is 30.6%
f) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.41 (dividend RM0.0375) in 5 months 22 days, total return is 29.5%
g) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.67 (dividends RM0.02) in 6 months 5 days, total return is 18.2%
h) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.98 in 3 months 5 days, total return is 15.3%
i) HSSEB (HSS ENGINEERS BHD), recommended on 20 Jan 19, initial price was RM1.04, rose to RM1.19 in 2 months 16 days, total return is 14.4%
j) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.39 (dividend RM0.035) in 4 months 18 days, total return is 12.2%
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
【看懂年报和季报】课程
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James Ng
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[BATU KAWAN BHD: prospect for the Group's plantations profit for the financial year 2019 will be satisfactory should such CPO price recovery be sustained, the Group’s oleochemical business is anticipated to sustain its performance with higher capacity utilisation and improvement in margins]
1Q19 vs 1Q18:
The Group’s profit before taxation was lower at RM362.83 million (1Q2018: RM388.47 million) with a decline of 20.8% in revenue to RM4,219.00 million (1Q2018: RM5,325.00 million).
Plantations: Despite of the improvement in FFB production, the current quarter's profit was impacted by the weaker CPO and PK selling prices.
Manufacturing reported a 28.0% lower profit of RM125.20 million (1Q2018: RM173.85 million) whilst revenue was 11.9% lower at RM2,317.21 million (1Q2018: RM2,631.62 million).
The oleochemical division registered a decrease in the current quarter’s profit by 31.1% to RM94.54 million (1Q2018: RM137.08 million) from lower selling prices. The chemical division posted a 17.5% lower profit at RM29.30 million (1Q2018: RM35.50 million) impacted by lower selling prices and higher energy cost.
Property Development achieved a higher profit of RM11.13 million (1Q2018: RM1.73 million) contributed by the increase in revenue to RM39.81 million (1Q2018: RM17.88 million).
Investment holdings/Others recorded a substantial increase in profit by 197.6% to RM98.12 million (1Q2018: RM100.54 million loss) mainly attributed by a RM37.98 million (1Q2018: RM120.6 million) foreign exchange currency gain on translation of inter-company loans denominated in foreign currencies, farming sector's higher profit of RM56.54 million (1Q2018: RM31.94 million) from increased in crop production over a larger cropped area, and RM22.50 million surplus (1Q2018: RM13.60 million surplus) from government acquisition of plantation land.
1Q19 vs 4Q18:
For the current quarter, Group's profit before taxation rose 51.6% to RM362.83 million compared to RM239.35 million reported in the preceding quarter whilst revenue was marginally lower at RM4,219.00 million (4Q2018: RM4,322.37 million).
Plantations recorded 27.1% lower profit to RM128.39 million (4Q2018: RM176.15 million) from lower realised CPO and PK selling prices, decrease in fair value of unharvested FFB to RM9.30 million (4Q2018: RM11.00 million increase in fair value) and increase in CPO production cost.
Manufacturing’s profit increased substantially by 85.6% to RM125.20 million (4Q2018: RM67.45 million) despite revenue decreased by 9.2% to RM2,317.21 million (4Q2018: RM2,552.34 million).
The oleochemical division recorded a much higher profit of RM94.54 million (4Q2018: RM32.03 million) mainly from Malaysia operations' higher margins. The current quarter's higher profit was also aided by a RM21.14 million unrealised gain (4Q2018: RM9.39 million unrealised loss) from fair value changes on outstanding derivative contracts. The chemical division posted a 15.4% lower profit at RM29.30 million (1Q2018: RM25.40 million) impacted by lower selling prices and higher energy cost.
Property Development segment recorded a decrease in profit to RM11.13 million (4Q2018: RM21.25 million) with revenue dropped 44.3% to RM39.81 million (4Q2018: RM71.53 million).
Investment holdings/Others’ result improved sharply by 484.8% to RM98.11 million profit (4Q2018: RM25.50 million loss) mainly due to foreign exchange currency gain of RM37.98 million (4Q2018: RM15.86 million loss) on translation of inter-company loans denominated in foreign currencies, farming sector's profit of RM56.54 million (4Q2018: RM7.70 million loss) from increased in crop production over a larger cropped area, and RM22.5 million surplus (4Q2018: Nil) from government acquisition of plantation land.
Prospects:
The prevailing CPO prices had since recovered from the preceeding quarter's low levels. They are optimistic that the prospect for the Group's plantations profit for the financial year 2019 will be satisfactory should such recovery be sustained. The Group’s oleochemical business is anticipated to sustain its performance with higher capacity utilisation and improvement in margins. Despite higher energy and raw material costs have impacted on the industrial chemical division's profit which is however projected to be satisfactory. Overall, the Group anticipates a reasonably satisfactory profit for the financial year 2019.
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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 RM1.38 in 3 months 20 days, total return is 72.5%
b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.29 in 9 months 4 day, total return is 62.3%
c) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM1.14 (dividend RM0.015) in 7 months 24 days, total return is 61.5%
d) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.86 in 2 months 16 days, total return is 49.6%
e) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.26 in 3 months 13 days, total return is 30.6%
f) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.41 (dividend RM0.0375) in 5 months 22 days, total return is 29.5%
g) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.67 (dividends RM0.02) in 6 months 5 days, total return is 18.2%
h) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.98 in 3 months 5 days, total return is 15.3%
i) HSSEB (HSS ENGINEERS BHD), recommended on 20 Jan 19, initial price was RM1.04, rose to RM1.19 in 2 months 16 days, total return is 14.4%
j) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.39 (dividend RM0.035) in 4 months 18 days, total return is 12.2%
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://web.facebook.com/jamesshareinvest/posts/2229034960696579 by date.
James的股票投资James Share Investing Blog: https://klse.i3investor.com/blogs/general/
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Facebook Group: https://www.facebook.com/groups/jamesinvesting
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.
James Ng
https://klse.i3investor.com/blogs/general/201242.jsp
