[ECO WORLD DEVELOPMENT GROUP BHD：对集团发展的兴趣依然强劲 - 购买者继续被集团对价值创造的坚定承诺所吸引，因为他们寻求不仅满足当前生活方式需求的房产，而且随着项目的成熟，还有可能升值]
2Q19 vs 2Q18:
尽管马来西亚合资企业的业绩贡献较高，但2019年第二季的PBT仍低于2018年第二季度，主要原因是行政和销售及营销费用增加。
YTD19 vs YTD18：
2Q YTD 2019的税后利润从5290万令吉增加35％至7150万令吉。这是由于集团合资企业的贡献显着增加，从去年亏损的260万令吉增加到今年合资企业的4040万令吉的利润（税后）。
2Q19 vs 1Q19：
2019年第二季度的收入和毛利高于2019年第一季度，原因是确认了2018财年下半年的销售收入和毛利以及2019年第二季度的工程进展。
前景：
在经历了一个缓慢的开局之后，绿盛世在FY2019的前7个月实现了10.26亿令吉的销售额，在FY2019的前4个月仅录得了2.3亿令吉。在2019年3月1日正式启动全国房屋所有权运动（“NHOC”）后3个月内，该集团吸引力较大的Help2Own和Stay2Own方案在自己的HOPE活动中，提升了8亿令吉的销售。随着买家在巴生谷，马来西亚依斯干达和槟城的项目中获得梦想之家，销售活动有所回升。
因此，虽然行业前景仍然充满挑战，但基于以下因素，一些green shoot正在出现：
- 自2019年3月1日正式启动以来，NHOC已成功从该系统中清除了大量可售的未售出单位;
- 这减少了有效的库存过剩，这将使市场能够重新调整到其自然水平，这得益于该国相对年轻的人口和持续的新家庭的形成;和
- 改变生活方式的需求和愿望以及越来越多的积极退休人员继续提供信息并影响购买决策
基于上述情况，除了绿盛世为支持NHOC而开展的促销活动外，他们在实地的参与以及他们过去三个月所获得的销售表明：
- 对集团发展的兴趣依然强劲 - 购买者继续被集团对价值创造的坚定承诺所吸引，因为他们寻求不仅满足当前生活方式需求的房产，而且随着项目的成熟，还有可能升值;
- 他们的Life@EcoWorld概念将使用第4个IR解决方案与Integrated Wellness＆Care组件建立数字化社区，以便在他们生活的每个阶段照顾他们的客户，这些概念开始受到关注;和
-他们的Signature EcoWorld DNA现已在越来越多的成熟项目中得到体现，这有助于他们吸引高质量的企业与他们合作，将他们的发展提升到另一个层次。
上述努力使每个EcoWorld的发展成为生活，工作和经商的最佳场所，使他们能够正式确定两个重要的跨境合作：
- 2019年2月，他们与台湾着名的高雄医科大学医院（KMUH）签署了两份谅解备忘录，为KMUH与马来西亚EcoWorld及其当地合作伙伴Aged Care Group（ACG）分享其在医疗保健服务方面的知识和经验奠定了基础。
这导致2019年4月在马来西亚EcoWorld，ACG和KMUH之间签署了两份单独的合作协议，为KMUH提供马来西亚的培训课程，包括社区活动，社区护理和护理管理。与KMUH的合作将会显着提升EcoWorld Malaysia的能力，创造具有独特“老化到位”特征的整体生活环境，其定义为无论年龄，收入或能力水平如何，安全，独立和舒适地生活在自己的家庭和社区中的能力。从生态保护区开始，这些服务计划扩展到巴生谷，槟城和马来西亚依斯干达的其他项目，因为马来西亚准备成为一个老龄化国家，到2020年，其年龄超过60岁人口将超过10％。
- 最近于2019年6月14日，马来西亚EcoWorld与PowerChina集团签署了两项具有里程碑意义的协议，PowerChina集团是一家中国国有综合性基础设施，建筑和房地产集团，2018年在财富全球500强企业中排名第182位。第一个是马来西亚PowerChina集团的子公司和Paragon Pinnacle私人有限公司之间的有条件合资企业，共同开发117.35英亩的工业用地，称为Eco Business Park V，Phase 2（拟定的合资企业）。与PowerChina合资的拟议合资公司将为来自中国和寻求在马来西亚开展业务和运营的地区的潜在工业家们提供连接并打开大门。其他好处包括：
- 通过以2.402亿令吉向JVCo出售土地来增加流动资金，其中大部分可由Paragon Pinnacle用于资助其正在进行的开发活动，
- 加快Eco Business Park V的发展，为绿盛世的目标做出贡献，使其不仅成为全国最佳工业园区之一，也是为雪兰莪市民提供优质就业机会的重点就业中心;和
- 为集团邻近的Eco Grandeur项目和更广泛的北巴生谷新兴增长走廊产生积极的溢出效应。
第二笔交易是马来西亚EcoWorld与PowerChina集团基础设施部门之间的谅解备忘录，共同竞标马来西亚的基础设施项目。虽然现在就详细说明这笔交易的潜在好处还为时尚早，但董事会感到欣慰的是，PowerChina集团不仅为其第一个工业房地产企业选择了EcoWorld项目，而且还选择与EcoWorld合作竞标马来西亚潜在的基础设施项目。因此，绿盛世将尽最大努力与PowerChina集团紧密合作，以促进这种关系，以便在未来几年内为马来西亚及中国的利益相关者带来互惠互利。
在马来西亚以外地区，EcoWorld International在2019财年的前7个月录得5.86亿令吉的销售额，也比2019财年前4个月的1.46亿令吉大幅改善。较高的销售额主要来自新的EcoWorld伦敦项目，包括于2019年2月在Kew Bridge推出新的Verdo住宅区，迄今为止已实现45％的健康购买率。
此外，EcoWorld London正在积极寻求新的Build-to-rent（BtR）交易，以利用英国专用BtR开发项目不断增长的机构需求。目前正在努力实施土地采购和融资，以及规划应用和与现有场地的潜在BtR投资者的谈判，这些努力有望实现2019财年至2020财年的60亿令吉的两年销售目标。
在金融方面，虽然由于本季度交付的物业数量较少，EcoWorld International未在2019年第二季度录得税前利润，但预计未来几个月将有更多的移交。这包括来自伦敦城市岛和Embassy Gardens的四个额外住宅区，目标是在2019财年完工。完成和移交后，将确认这些单位的销售利润。因此，这应该会增加马来西亚EcoWorld在其FY2019剩余季度中从其国际合资企业获得的利润份额。
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James Ng Stock Pick Performance:
Since Recommended Return:
a) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM1.34 (dividend RM0.015) in 10 months 16 days, total return is 89.5%
b) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.36 in 6 months 12 days, total return is 70%
c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.29 (dividend RM0.04) in 11 months 27 days, total return is 67.3%
d) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.66 (dividend RM0.0825) in 8 months 14 days, total return is 45.1%
e) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.25 (dividend RM0.008) in 6 months 5 days, total return is 30.4%
f) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.735 in 5 months 8 days, total return is 27.8%
g) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.52 (dividend RM0.035) in 7 months 10 days, total return is 22.4%
h) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.66 (dividends RM0.03) in 8 months 29 days, total return is 18.2%
i) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM1.00 in 5 months 29 days, total return is 17.6%
j) HSSEB (HSS ENGINEERS BHD), recommended on 20 Jan 19, initial price was RM1.04, rose to RM1.16 in 5 months 8 days, total return is 11.5%
k) PESTECH (PESTECH INTERNATIONAL BHD), recommended on 2 Jun 19, initial price was RM1.04, rose to RM1.11 in 28 days, total return is 6.7%
l) SWKPLNT (SARAWAK PLANTATION BHD), recommended on 24 Mar 19, initial price was RM1.55, rose to RM1.64 in 3 months 4 days, total return is 5.8%
m) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM4.03 (dividends RM0.084) in 10 months 30 days, total return is 3.9%
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
1)【股票-实际操作班】课程：
10a.m. – 9p.m.，免费午餐和晚餐
7月14日星期日：AG Hotel Penang, George Town
7月28日星期日：Silka Johor Bahru Hotel, Johor Bahru
9月7日星期六：Hotel Sri Petaling, KL
2)【看懂年报和季报】课程:
11a.m. – 7p.m.，免费茶和咖啡
7月27日星期六：Silka Johor Bahru Hotel, Johor Bahru 5份点心
8月11日星期日：AG Hotel Penang, George Town 4份点心
9月8日星期日：Hotel Sri Petaling, KL 3份点心
3) 【公司业绩分享会】:
2p.m. – 7p.m.，免费茶和咖啡
7月13日星期六：AG Hotel Penang, George Town 4份点心
7月21日星期日：Hotel Sri Petaling, KL 3份点心
7月26日星期五：Silka Johor Bahru Hotel, Johor Bahru 5份点心
有兴趣的朋友，可以电邮或PM FB page联络我
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James Ng
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[ECO WORLD DEVELOPMENT GROUP BHD: Interest in the Group’s developments remain strong - purchasers continue to be drawn to the Group’s steadfast commitment to value creation as they seek out properties that not only meet their current lifestyle needs but also have the potential to appreciate in value as the projects mature]
2Q19 vs 2Q18:
Despite the higher share of results contributed by the Malaysian joint-ventures, the PBT for 2Q 2019 was still lower than 2Q 2018 mainly due to higher administrative and selling & marketing expenses.
YTD19 vs YTD18:
Profit after tax for 2Q YTD 2019 increased by 35% to RM71.5 million from RM52.9 million. This is due to significantly higher contributions by the Group's joint ventures which went from a share of loss of RM2.6 million last year to a share of profit (after tax) from joint ventures of RM40.4 million this year.
2Q19 vs 1Q19:
Revenue and gross profit in 2Q 2019 was higher than in 1Q 2019 due to the recognition of revenue and gross profit derived from sales secured in the 2nd half of FY 2018 and progress of works achieved in 2Q 2019.
Prospects:
The Group achieved RM1.026 billion in sales in the first 7 months of FY2019, after a slow start to the year which saw only RM230 million recorded in the first 4 months of FY2019. This marked improvement of close to RM800 million sales was secured over 3 months following the official launch of the National Home Ownership Campaign (“NHOC”) on 1 March 2019, aided by the Group’s attractive Help2Own and
Stay2Own solutions under its own HOPE Campaign. Sales activity picked up as buyers returned in a big way to secure their dream homes across the Group’s projects in the Klang Valley, Iskandar Malaysia and Penang.
As such, whilst the sectoral outlook continues to be challenging, some green shoots are emerging based on the following:
-The NHOC has successfully cleared a good number of saleable unsold units from the system since its official launch on 1 March 2019;
-This reduces the effective property overhang which will enable the market to recalibrate to its natural level supported by the country’s relatively young demographic and continuing new household formation; and
-Changing lifestyle needs and aspirations as well as an increasing number of active retirees continue to inform and influence buying decisions
Based on the above, apart from the promotional campaigns which the Group is running in support of the NHOC, their engagement on the ground and the sales which they have garnered over the last three months demonstrate that:
-Interest in the Group’s developments remain strong - purchasers continue to be drawn to the Group’s steadfast commitment to value creation as they seek out properties that not only meet their current lifestyle needs but also have the potential to appreciate in value as the projects mature;
-Their Life@EcoWorld concepts which marry the establishment of digitally enabled communities using 4th IR solutions together with Integrated Wellness & Care components to look after their customers at every stage of their lives are beginning to gain traction; and
-Their Signature EcoWorld DNA which is now evident in an increasing number of matured and maturing projects has helped them to attract high-quality corporates to partner with them to take their developments to another level.
The above efforts to make each and every EcoWorld development the best places to live, work and do business in has enabled them to formalise two important cross-border collaborations:
-In February 2019 they inked two MOUs with the renowned Kaohsiung Medical University Hospital (KMUH) of Taiwan to set the stage for KMUH to share its knowledge and experience in healthcare & wellness services with EcoWorld Malaysia and their local partner Aged Care Group (ACG).
This led to the signing of two separate Cooperation Agreements in April 2019 between EcoWorld Malaysia, ACG and KMUH for KMUH to provide training courses in Malaysia involving community activities, community care and care management. The tie-up with KMUH will enhance significantly EcoWorld Malaysia’s capabilities in creating holistic living environments with unique “ageing in place” features, which is defined as the ability to live in one’s own home and community safely, independently, and comfortably, regardless of age, income, or ability levels. Beginning with Eco Sanctuary, these services are proposed to be extended to their other projects in the Klang Valley, Penang and Iskandar Malaysia as Malaysia prepares itself to be an ageing nation where more than 10% of its population will be 60 years and older by 2020.
-More recently on 14 June 2019, EcoWorld Malaysia signed two landmark agreements with the PowerChina Group, a wholly Chinese State-owned comprehensive infrastructure, construction and real estate group ranked 182 on Fortune’s Global 500 companies in 2018. The first is a conditional joint-venture between a Malaysian incorporated subsidiary of the PowerChina Group and Paragon Pinnacle Sdn Bhd to jointly develop 117.35 acres of industrial land to be known as Eco Business Park V, Phase 2 (Proposed JV). The Proposed JV with PowerChina will connect and open doors for potential industrialists from China and the region seeking to set up business and operations in Malaysia. Other benefits include:
-Raising working capital via the land sale to the JVCo for RM240.2 million, the bulk of which can be utilised by Paragon Pinnacle to fund its ongoing development activities,
-Accelerating the development of Eco Business Park V and contributing towards the Group’s aims to make it not only one of the best industrial parks in the country but also a key job centre offering quality employment opportunities for the people of Selangor; and
-Generating positive spillover effects for the Group’s neighbouring Eco Grandeur project and the broader Northern Klang Valley emerging growth corridor.
The second deal is a Memorandum of Understanding between EcoWorld Malaysia and the infrastructure arm of the PowerChina Group to jointly bid for infrastructure projects in Malaysia. Whilst it is too early to elaborate on the potential benefits of this deal, the Board is gratified that the PowerChina Group has not only selected an EcoWorld project for their very 1st industrial real estate venture here but is also choosing to work with EcoWorld to bid for potential infrastructure projects in Malaysia. Accordingly, the Group will do its utmost to work closely with the PowerChina Group to foster this relationship for the mutual benefit its respective stakeholders in Malaysia and China in the years to come.
Outside Malaysia, EcoWorld International recorded RM586 million sales in the first 7 months of FY2019, also a substantial improvement over the RM146 million achieved in the first 4 months of FY2019. The higher sales were mostly contributed by the new EcoWorld London projects, including the launch the new Verdo residential blocks in Kew Bridge in February 2019 which has achieved a healthy take-up rate of 45% to date.
In addition, EcoWorld London is actively pursuing new Build-to-rent (BtR) deals to tap into the growing institutional demand for purpose-built BtR developments in the UK. Efforts ranging from land sourcing and securing of financing to planning application and negotiations with potential BtR investors on its existing sites are being undertaken which are expected to contribute towards the attainment of the two-year sales target set of RM6 billion for the FY2019 to FY2020.
On the financial front, whilst EcoWorld International did not record a profit before tax in 2Q 2019 due to the lower volume of properties handed over this quarter, more handovers are expected in the next few months. This includes four additional residential blocks from London City Island and Embassy Gardens which are targeted for completion in FY2019. Upon completion and handover, profits from sales of these units will be recognised. This should therefore add onto EcoWorld Malaysia’s share of profits from its International joint-venture in the remaining quarters of FY2019.
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James Ng Stock Pick Performance:
Since Recommended Return:
a) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM1.34 (dividend RM0.015) in 10 months 16 days, total return is 89.5%
b) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.36 in 6 months 12 days, total return is 70%
c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.29 (dividend RM0.04) in 11 months 27 days, total return is 67.3%
d) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.66 (dividend RM0.0825) in 8 months 14 days, total return is 45.1%
e) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.25 (dividend RM0.008) in 6 months 5 days, total return is 30.4%
f) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.735 in 5 months 8 days, total return is 27.8%
g) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.52 (dividend RM0.035) in 7 months 10 days, total return is 22.4%
h) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.66 (dividends RM0.03) in 8 months 29 days, total return is 18.2%
i) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM1.00 in 5 months 29 days, total return is 17.6%
j) HSSEB (HSS ENGINEERS BHD), recommended on 20 Jan 19, initial price was RM1.04, rose to RM1.16 in 5 months 8 days, total return is 11.5%
k) PESTECH (PESTECH INTERNATIONAL BHD), recommended on 2 Jun 19, initial price was RM1.04, rose to RM1.11 in 28 days, total return is 6.7%
l) SWKPLNT (SARAWAK PLANTATION BHD), recommended on 24 Mar 19, initial price was RM1.55, rose to RM1.64 in 3 months 4 days, total return is 5.8%
m) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM4.03 (dividends RM0.084) in 10 months 30 days, total return is 3.9%
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/2311638045769603 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/212957.jsp
