[BURSA (1818) 大馬交易所 BURSA MALAYSIA BHD：On-Market Trades（“OMT”）的平均每日交易价值（“ADV”）较低，交易收入下降] - James的股票投资James Share Investing
2Q19 vs. 2Q18:
截至2019年6月30日止季度（2Q19）的税前利润（「PBT」）为6,330万令吉，较截至2018年6月30日止季度的7,990万令吉减少20.8％（「2Q18」） 。2Q19的全部部门利润总额为8,140万令吉，较2Q18的9,750万令吉减少16.5％。
证券市场：
证券市场于2Q19部门溢利为7,460万令吉，较2Q18的8,720万令吉减少14.5％，主要由于营业收入减少所致。
1）营业收入：
证券市场2Q19的营业收入为9,380万令吉，较2Q18的1.069亿令吉减少12.3％。由于On-Market Trades（“OMT”）的平均每日交易价值（“ADV”）较低，交易收入在2Q19下降了16.3％至5880万令吉；与2Q18的28.8亿令吉相比，Direct Business Trades（“DBT”）在2Q19下降了23.3％至22.1亿令吉。2Q19的交易速度也下降了8个百分点，降至29％。
上市及发行人服务收入由2Q18的1520万令吉下跌12.9％至2Q19的1,330万令吉。这主要是由于公司corporate exercises和通告数量分别减少，导致2Q19的上市费用和processing费用降低。
2）运营费用：
部门开支于2Q19下跌4.4％至2,230万令吉，而2Q18则为2,330万令吉，主要由于2Q19的员工成本下降所致。
衍生品市场：
衍生产品市场于2Q19录得部门溢利850万令吉，较2Q18的1160万令吉减少26.8％，主要由于营业收入减少所致。
1）营业收入：
Derivatives Market的2Q19营业收入为1,910万令吉，较2Q18的2190万令吉减少12.5％。2Q19的交易收入减少14.4％至1,690万令吉，主要是由于富时大马隆综合指数期货（「FKLI」）及棕榈油期货（「FCPO」）的合约数量减少，以及较高的市场incentives于2Q19发生。
2）运营费用：
部门开支于2Q19增加4.0％至1,120万令吉，而2Q18则为1,080万令吉，主要由于2Q19的营销及开发开支增加所致。
交易所控股公司：
交易所控股公司于2Q19录得较高的部门亏损380万令吉，而2Q18的亏损则为330万令吉，主要是由于支付股息导致基金规模减少导致利息收入减少。
其他：
部门利润于2Q19增加6.6％至210万令吉，而2Q18则为二百万令吉，主要由于2Q19的BSAS交易收入增加。
管理费用：
2Q19的管理费用增加2.8％至1,810万令吉，而2Q18则为1,760万令吉，主要是由于2Q19的建筑管理费用增加。
1H19 vs. 1H18：
截至2019年6月30日（1H19）截至年初至今的PBT为1.276亿令吉，较截至2018年6月30日止年度的迄今为止的1.675亿令吉（1H18）减少23.8％ 。1H19的综合收益总额为1.054亿令吉，较1H18的1.518亿令吉下降30.6％。这主要是由于报价股票（马来西亚境外）的公允价值变动较小，而且与1H18相比，1H19的利润较低。
证券市场：
证券市场于19年上半年录得部门利润1.47亿令吉，较去年上半年的1.811亿令吉减少18.9％，原因是经营收入减少。
1）营业收入：
证券市场1H19的营业收入为1.858亿令吉，较1H18的2.192亿令吉下降15.2％。1H19的交易收入减少19.6％至1.178亿令吉，主要是由于1H19 OMT和DBT的ADV较1H18减少到23.1亿令吉，而1H18则为29亿令吉。与1H18相比，1H19的交易速度也下降了7个百分点，降至29％。
上市及发行人服务收入由二零一八年上半年的3090万令吉减少18.6％至1H19的2,510万令吉。这主要是由于较低的上市费用以及1H19所获得的listing fees and perusal and processing费用较低，原因是公司corporate exercises和通告分别较少。
2）运营费用：
部门开支于19年上半年及18年上半年维持相当稳定，为4,500万令吉。
衍生品市场：
衍生产品市场于19年上半年录得部门溢利1,840万令吉，较去年上半年的2,490万令吉减少26.1％，主要由于经营收入减少。
1）营业收入：
衍生产品市场于19年上半年录得营业收入4,260万令吉，较去年上半年的4,840万令吉减少12.0％。1H19的交易收入减少14.1％至3330万令吉，主要是由于FKLI和FCPO的交易合约数量减少，以及1H19的市场激励措施较高。
2）运营费用：
部门开支于1H19增加3.0％至2,520万令吉，而1H18则为2,450万令吉，主要由于1H19营销及开发开支增加所致。
交易所控股公司：
交易所控股公司于19年上半年录得较低的部门亏损770万令吉，而1H18则为870万令吉，主要由于1H19员工成本下降所致。
其他：
部门利润在1H19略微下降1.4％至460万令吉。
管理费用：
与1H18的3440万令吉相比，1H19的开销略微增加0.5％至3,460万令吉。
2Q19 vs. 1Q19：
2Q19的PBT为6,330万令吉，较截至2019年3月31日止的季度（「1Q19」）的6440万令吉减少1.7％。
证券市场：
证券市场于2Q19录得部门利润7,460万令吉，较1Q19的7,240万令吉增加3.1％，原因是经营收入增加。
1）营业收入：
证券市场2Q19的营业收入为9,380万令吉，较1Q19的9,210万令吉增加1.8％。
2）运营费用：
部门开支由1Q19的2290万令吉减少2.4％至2,230万令吉，主要由于2Q19的营销及开发开支减少。
衍生品市场：
衍生产品市场在2Q19录得部门溢利850万令吉，较1Q19的990万令吉减少14.7％，主要是由于Palm和Lauric Oils Price Outlook Conference＆Exhibition（“POC”）在2019年3月举行，使1Q19获得的收入增加。
1）营业收入：
衍生产品市场2Q19的营业收入为1,910万令吉，较1Q19的2,340万令吉减少18.3％。
2）运营费用：
部门开支于2Q19减少20.0％至1,120万令吉，主要由于二零一九年三月举行的POC于1Q19产生的开支。
交易所控股公司：
交易所控股公司在2Q19录得较低的部门亏损380万令吉，而1Q19则为390万令吉。
其他：
部门溢利于2Q19下跌11.8％至210万令吉，主要由于2Q19的BSAS交易收入减少所致。
管理费用：
2Q19的管理费增长9.9％至1,810万令吉，而1Q19则为1,650万令吉，主要由于2Q19的员工成本及楼宇管理开支增加所致。
前景：
国际货币基金组织在其2019年7月的报告中将其2019年的全球经济增长预测从3.3％修订为3.2％，因为全球增长仍然疲弱。世界银行在2019年6月的报告中将其2019年全球经济增长预测从2019年1月的2.9％修订为2.6％，理由是今年上半年出现了广泛的弱势，包括进一步的贸易紧张局势加剧导致投资减速。由于2019年第一季度投资和出口活动弱于预期，世界银行还将马来西亚2019年国内生产总值（“GDP”）增长预测从先前预测的4.7％下调至4.6％。
上半年证券市场表现受到全球和国内发展的影响，这些发展集中于全球经济增长放缓，全球融资条件放松以及企业盈利减弱等问题。考虑到充满挑战的环境以及任何不可预见的情况，大马交易所预计将在下半年保持持续的表现。
-----------------------------
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 RM1.55 (dividend RM0.015) in 11 months 20 days, total return is 118.9%
b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.42 (dividend RM0.04) in 1 year 1 month 1 day, total return is 83.6%
c) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.34 in 7 months 17 days, total return is 67.5%
d) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.50 (dividend RM0.1875) in 9 months 18 days, total return is 42.2%
e) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.785 in 6 months 13 days, total return is 36.5%
f) PESTECH (PESTECH INTERNATIONAL BHD), recommended on 2 Jun 19, initial price was RM1.04, rose to RM1.41 in 2 months, total return is 35.6%
g) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.28 (dividend RM0.008) in 7 months 10 days, total return is 33.5%
h) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.62 (dividend RM0.035) in 8 months 15 days, total return is 30.3%
i) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.61 (dividends RM0.04) in 10 months 2 days, total return is 15.4%
j) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM1.76 (dividends RM0.063) in 9 months 25 days, total return is 14.7%
k) HUAYANG (HUA YANG BHD), recommended on 17 Feb 19, initial price was RM0.40, rose to RM0.45 in 5 months 16 days, total return is 12.5%
l) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.94 in 7 months 2 days, total return is 10.6%
m) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM4.10 (dividends RM0.084) in 1 year 3 days, total return is 5.7%
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页面与我联系。
1)【看懂年报和季报】课程:
11a.m. – 7p.m.，免费茶和咖啡
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
10月19日星期六：Silka Johor Bahru Hotel, Johor Bahru 5份点心
2)【股票-实际操作班】课程：
10a.m. – 9p.m.，免费午餐和晚餐
8月6日星期二：Kuching
8月10日星期六：AG Hotel Penang, George Town
9月7日星期六：Hotel Sri Petaling, KL
10月20日星期日：Silka Johor Bahru Hotel, Johor Bahru
3) 【公司业绩分享会】:
2p.m. – 7p.m.，免费茶和咖啡
8月9日星期五：AG Hotel Penang, George Town 4份点心
9月6日星期五：Hotel Sri Petaling, KL 3份点心
10月18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
email：jamesngshare@gmail.com
电话/Whatsapp : 011 - 15852043
Facebook Group: https://www.facebook.com/groups/jamesinvesting
这个是我的TELEGRAM Group链接，大家可以在这个Group获知何时做Fb live: https://t.me/joinchat/LhwHNhdU1fDgxrSafTrTiw
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这个分享纯属讨论以及领域的分析，买或卖自负。请Like和Share这个post。最终决定永远是你的，谢谢。
James Ng
-------------------------------
[BURSA MALAYSIA BHD: Trading revenue decreased, which was on the back of lower Average Daily trading Value ("ADV") for On-Market Trades ("OMT")]
2Q19 vs. 2Q18:
Profit Before Tax ("PBT") for the quarter ended 30 June 2019 ("2Q19") was RM63.3 million, a decrease of 20.8 per cent compared to RM79.9 million in the quarter ended 30 June 2018 ("2Q18"). Total segment profits for 2Q19 were RM81.4 million, a decrease of 16.5 per cent compared to RM97.5 million in 2Q18.
Securities Market:
Securities Market recorded a segment profit of RM74.6 million in 2Q19, a decrease of 14.5 per cent compared to RM87.2 million in 2Q18 mainly due to lower operating revenue.
1) Operating Revenue:
Securities Market's operating revenue for 2Q19 was RM93.8 million, a decrease of 12.3 per cent compared to RM106.9 million in 2Q18. Trading revenue decreased by 16.3 per cent to RM58.8 million in 2Q19, which was on the back of lower Average Daily trading Value ("ADV") for On-Market Trades ("OMT") and Direct Business Trades ("DBT") which declined by 23.3 per cent to RM2.21 billion in 2Q19 compared to RM2.88 billion in 2Q18. Trading velocity in 2Q19 was also lower by 8 percentage points to 29 per cent.
Listing and issuer services revenue decreased by 12.9 per cent to RM13.3 million in 2Q19 from RM15.2 million in 2Q18. This was mainly due to lower listing fees and perusal and processing fees earned in 2Q19 as a result of lower number of corporate exercises and circular submissions respectively.
2) Operating Expenses:
Segment expenses decreased by 4.4 per cent to RM22.3 million in 2Q19 compared to RM23.3 million in 2Q18 mainly due to lower staff costs in 2Q19.
Derivatives Market:
Derivatives Market recorded a segment profit of RM8.5 million in 2Q19, a decrease of 26.8 per cent from RM11.6 million in 2Q18 which was mainly attributed to lower operating revenue.
1) Operating Revenue:
Derivatives Market's operating revenue for 2Q19 was RM19.1 million, a decrease of 12.5 per cent compared to RM21.9 million in 2Q18. Trading revenue decreased by 14.4 per cent to RM16.9 million in 2Q19 mainly due to lower number of contracts traded for FTSE Bursa Malaysia KLCI Futures ("FKLI") and Crude Palm Oil Futures ("FCPO"), as well as higher market incentives incurred in 2Q19.
2) Operating Expenses:
Segment expenses increased by 4.0 per cent to RM11.2 million in 2Q19 compared to RM10.8 million in 2Q18 mainly due to higher marketing and development expenses incurred in 2Q19.
Exchange Holding Company:
The Exchange Holding Company recorded a higher segment loss of RM3.8 million in 2Q19 compared to RM3.3 million in 2Q18 mainly due to lower interest income from lower fund size as a result of dividends paid.
Others:
The segment profit increased by 6.6 per cent to RM2.1 million in 2Q19 compared to RM2.0 million in 2Q18 mainly due to higher revenue from BSAS trades in 2Q19.
Overheads:
Overheads increased by 2.8 per cent to RM18.1 million in 2Q19 compared to RM17.6 million in 2Q18 mainly due to higher building management expenses in 2Q19.
1H19 vs. 1H18:
PBT for the year-to-date ended 30 June 2019 ("1H19") was RM127.6 million, a decrease of 23.8 per cent from RM167.5 million in the year-to-date ended 30 June 2018 ("1H18"). Total comprehensive income for 1H19 was RM105.4 million, a decrease of 30.6 per cent compared to RM151.8 million in 1H18. This was mainly due to lower fair value changes in quoted shares (outside Malaysia) and lower profit earned in 1H19 compared to 1H18.
Securities Market:
Securities Market recorded a segment profit of RM147.0 million in 1H19, a decrease of 18.9 per cent compared to RM181.1 million in 1H18, on the back of lower operating revenue.
1) Operating Revenue:
Securities Market's operating revenue for 1H19 was RM185.8 million, a decrease of 15.2 per cent compared to RM219.2 million in 1H18. Trading revenue decreased by 19.6 per cent to RM117.8 million in 1H19, which was mainly due to lower ADV for OMT and DBT of RM2.31 billion in 1H19 compared to RM2.90 billion in 1H18. Trading velocity in 1H19 was also lower by 7 percentage points to 29 per cent compared to 1H18.
Listing and issuer services revenue decreased by 18.6 per cent to RM25.1 million in 1H19 from RM30.9 million in 1H18. This was mainly due to lower listing fees and perusal and processing fees earned in 1H19 resulting from lower number of corporate exercises and circular submissions respectively.
2) Operating Expenses:
Segment expenses remained fairly stable at RM45 million in 1H19 and 1H18.
Derivatives Market:
Derivatives Market recorded a segment profit of RM18.4 million in 1H19, a decrease of 26.1 per cent compared to RM24.9 million in 1H18 mainly due to lower operating revenue.
1) Operating Revenue:
Derivatives Market registered an operating revenue of RM42.6 million in 1H19, representing a decrease of 12.0 per cent compared to RM48.4 million in 1H18. Trading revenue decreased by 14.1 per cent to RM33.3 million in 1H19 mainly due to lower number of contracts traded for FKLI and FCPO, as well as higher market incentives incurred in 1H19.
2) Operating Expenses:
Segment expenses increased by 3.0 per cent to RM25.2 million in 1H19 compared to RM24.5 million in 1H18 mainly due to higher marketing and development expenses incurred in 1H19.
Exchange Holding Company:
The Exchange Holding Company recorded a lower segment loss of RM7.7 million in 1H19 compared to RM8.7 million in 1H18 mainly due to lower staff costs in 1H19.
Others:
The segment profit decreased marginally by 1.4 per cent to RM4.6 million in 1H19.
Overheads:
Overheads increased marginally by 0.5 per cent to RM34.6 million in 1H19 compared to RM34.4 million in 1H18.
2Q19 vs. 1Q19:
PBT for 2Q19 was RM63.3 million, a decrease of 1.7 per cent from RM64.4 million in the quarter ended 31 March 2019 ("1Q19").
Securities Market:
The Securities Market recorded a segment profit of RM74.6 million in 2Q19, representing an increase of 3.1 per cent from RM72.4 million in 1Q19 which was attributed to higher operating revenue.
1) Operating Revenue:
Securities Market's operating revenue for 2Q19 was RM93.8 million, an increase of 1.8 per cent compared to RM92.1 million in 1Q19.
2) Operating Expenses:
Segment expenses decreased by 2.4 per cent to RM22.3 million from RM22.9 million in 1Q19 mainly due to lower marketing and development expenses incurred in 2Q19.
Derivatives Market:
Derivatives Market recorded a segment profit of RM8.5 million in 2Q19, a decrease of 14.7 per cent from RM9.9 million in 1Q19 mainly due to higher revenue earned in 1Q19 from Palm and Lauric Oils Price Outlook Conference & Exhibition ("POC") 2019 which were held in March 2019.
1) Operating Revenue:
Derivatives Market's operating revenue for 2Q19 was RM19.1 million, a decrease of 18.3 per cent from RM23.4 million in 1Q19.
2) Operating Expenses:
Segment expenses decreased by 20.0 per cent to RM11.2 million in 2Q19 mainly due to expenses incurred in 1Q19 for the POC which were held in March 2019.
Exchange Holding Company:
The Exchange Holding Company recorded a lower segment loss of RM3.8 million in 2Q19 compared to RM3.9 million in 1Q19.
Others:
The segment profit decreased by 11.8 per cent to RM2.1 million in 2Q19 mainly due to lower BSAS trading revenue earned in 2Q19.
Overheads:
Overheads increased by 9.9 per cent to RM18.1 million in 2Q19 compared to RM16.5 million in 1Q19 mainly due to higher staff costs and building management expenses in 2Q19.
Prospects:
The International Monetary Fund (“IMF”) in its July 2019 report revised its global economic growth projection for 2019 to 3.2% from 3.3%, as the global growth remains subdued. The World Bank in its June 2019 report revised its global economic growth projection for 2019 to 2.6% from 2.9% in January 2019, citing a broad-based weakness observed during the first half of the year, including a further deceleration in investments amid rising trade tensions. The World Bank has also lowered Malaysia’s 2019 gross domestic product (“GDP”) growth forecast to 4.6% from its earlier forecast of 4.7%, due to weaker-than-expected investment and export activity in the first quarter of 2019.
The Securities Market performance in the first half of the year was influenced by both global and domestic developments which centred on concerns of softening global growth, easing of global financing conditions and weaker corporate earnings. Considering the challenging environment and barring any unforeseen circumstances, the Exchange expects to maintain a sustained performance in the second half of the year.
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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.
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/217973.jsp
