[FRONTKEN CORP BHD：其中一位客户提供的指引似乎表明最坏的情况可能已经过去，而2019年下半年的需求将大幅增加]
2Q19 vs 2Q18:
前研科技于台湾及马来西亚的附属公司录得较去年同期较低的收入，但前研科技于新加坡的附属公司表现较佳，抵消收入的减少。尽管其子公司在台湾的收入较低，但其中一位客户提供的指引似乎表明最坏的情况可能已经过去，而2019年下半年的需求将大幅增加。该客户进一步补充说，这可能是由于其先进的高性能芯片的新订单，特别是在各国推出超快速的第五代无线网络。
前研科技本季度的税前利润（“PBT”）为2,310万令吉，较上一季度的1,950万令吉高出360万令吉或18.4％。利润增加主要是由于前研科技于新加坡的附属公司业绩改善及持续努力提升前研科技整体效率所带来的利润率提升。如果他们要排除外汇交易影响，那么本季度的表现将比上一年相应季度好30％。
YTD19 vs YTD18：
截至2019年6月30日止本期间，前研科技的收入为1.64亿令吉，较去年同期高出1,130万令吉（7.4％）。该改善主要是由于前研科技在马来西亚，新加坡和菲律宾的附属公司的表现较佳。由于各自业务的正增长，2019年上半年这三家子公司的年初至今收入分别比2018年上半年增长22.6％，21.1％和2.0％。
与去年同期相比，由于收入增加和成本管理警惕，集团的PBT增长了1510万令吉（49.5％）。如果他们要排除外汇兑换影响，那么今年年初至今的PBT将比去年同期上涨4590万令吉或55.1％，而不是49.5％。
2Q19 vs 1Q19：
前研科技于台湾，马来西亚及菲律宾的附属公司收入减少，但被前研科技于新加坡的附属公司业绩改善而有所抵消。他们在台湾的主要客户表示他们已经超过了他们业务周期的底部，并且应该看到2019年下半年的需求增加。根据摩根士丹利的说法，加密设备的订单预计将有助于他们客户的第三季度销售，新智能手机制造业的典型年终增长以及客户新的芯片产品周期也可能提升收入。为此，他们希望他们也能从客户的产量增加中受益，并在下半年增加销售。前研科技本季度未经审核的税前利润改善部分归因于他们不断努力改善生产流程，从而改善成本管理。
前景：
前研科技上半年录得好成绩，其PBT较去年同期增加49.5％，主要是由于半导体及石油及天然气业务均录得正增长。虽然半导体行业的总体前景有些不温不火，但在该行业的主要参与者解决长期悬而未决的争议后，近期的积极发展有所推动了前景。因此，向前迈进，他们相信这对他们来说是积极的。
至于石油和天然气行业，他们注意到查询的数量已经增加并已转移到订单中。其石油和天然气业务的改善表现预示着他们2019年的收入会增加。话虽如此，强制执行的资本纪律，投资组合调整和生产力效率，尚未解决的贸易紧张局势仍然是当前积极前景的主要风险来源。
虽然前研科技预期本财政年度余下两个季度的整体业务状况仍然充满挑战，但他们对其余月份的表现会令人满意持谨慎乐观态度。他们将继续保持对成本管理的警惕，并不断探索提高生产效率的方法。他们的首要任务是继续将注意力集中在其服务质量和效率上，以保持其竞争力。
-----------------------------
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 RM1.56 (dividend RM0.015) in 11 months 18 days, total return is 120.3%
b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.38 (dividend RM0.04) in 1 year 29 days, total return is 78.6%
c) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.40 in 7 months 15 days, total return is 75%
d) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.55 (dividend RM0.1875) in 9 months 16 days, total return is 44.8%
e) PESTECH (PESTECH INTERNATIONAL BHD), recommended on 2 Jun 19, initial price was RM1.04, rose to RM1.44 in 1 month 30 days, total return is 38.5%
f) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.78 in 6 months 11 days, total return is 35.7%
g) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.30 (dividend RM0.008) in 7 months 8 days, total return is 35.5%
h) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.67 (dividend RM0.035) in 8 months 13 days, total return is 34.3%
i) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM1.85 (dividends RM0.063) in 9 months 23 days, total return is 20.3%
j) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.62 (dividends RM0.04) in 9 months 30 days, total return is 16.1%
k) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.97 in 6 months 30 days, total return is 14.1%
l) HUAYANG (HUA YANG BHD), recommended on 17 Feb 19, initial price was RM0.40, rose to RM0.45 in 5 months 14 days, total return is 12.5%
m) FIAMMA (FIAMMA HOLDINGS BHD), recommended on 23 Sep 18, initial price was RM0.495, rose to RM0.495 (dividend RM0.0225) in 10 months 8 days, total return is 4.5%
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
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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
-------------------------------
[FRONTKEN CORP BHD: guidance provided by one of their customers seems to indicate that the worst may be over and that the demand in the second half of 2019 will pick up significantly]
2Q19 vs 2Q18:
The Group’s subsidiaries in Taiwan and Malaysia recorded a lower revenue compared to the preceding year corresponding quarter but this is mitigated by a better performance of the Group’s subsidiary in Singapore. Despite a lower revenue from their subsidiary in Taiwan, the guidance provided by one of their customers seems to indicate that the worst may be over and that the demand in the second half of 2019 will pick up significantly. The customer further added that this could have been due to new orders of its advanced high-performance chips, particularly as countries roll out ultra-fast fifth generation wireless networks.
The Group’s profit before tax (“PBT”) of RM23.1 million for the current quarter was RM3.6 million or 18.4% higher than the corresponding quarter’s RM19.5 million. The higher profit was mainly due to improved performances by the Group’s subsidiary in Singapore and better profit margin resulting from the continual efforts to improve their efficiency across the Group. If they were to exclude the foreign currency exchange impact, the current quarter’s performance would have been 30% better than the preceding year corresponding quarter.
YTD19 vs YTD18:
The Group’s revenue of RM164.0 million for the current period ended 30 June 2019 was RM11.3 million (7.4%) higher than that achieved in the preceding year corresponding period. The improvement was mainly due to better performances from the Group’s subsidiaries in Malaysia, Singapore and the Philippines. Year-to-date revenue during the first half of 2019 from those three subsidiaries rose 22.6%, 21.1% and 2.0% respectively compared to the first half of 2018 due to the positive growth in their respective businesses.
Against the same period last year, the PBT for the Group jumped by RM15.1 million (49.5%) as a result of improved revenue and vigilance in cost management. If they were to exclude the foreign currency exchange impact, the current year-to-date PBT would have been RM45.9 million or 55.1% better than the preceding year corresponding period instead of the 49.5%.
2Q19 vs 1Q19:
The lower revenue from the Group’s subsidiaries in Taiwan, Malaysia and the Philippines was mitigated from the improved performance of the Group’s subsidiary in Singapore. Their major customer in Taiwan indicated that they have passed the bottom of the cycle of their business and should see the demand increase in the second half of 2019. According to Morgan Stanley, orders for cryptomining gear are expected to help their customer’s third quarter sales while the typical year-end ramp up of new smartphone manufacturing and a new chip-product cycle from their customers could also buoy the top line. To that end, they hope that they will also benefit from their customers’ ramp up of production and see increased sales in the second half of the year. The Group’s improved unaudited profit before tax for the current quarter was partly attributable to their continual efforts in improving their production processes leading to better cost management.
Prospects:
The Group recorded a remarkable first half results with a 49.5% increase in its PBT compared to the preceding year corresponding period mainly attributable to the positive growth in both their semi-conductor and oil and gas businesses. Although the general outlook for the semiconductor industry is somewhat tepid, the recent positive development following the settlement of a long outstanding dispute by major players in this sector had somewhat boosted the outlook. Therefore, moving forward, they believe it will be positive for them.
As for the oil and gas industry, they noticed that the number of enquiries had picked up and have been transferred into orders. The improved performance of their oil and gas business augurs well for the realization of their projected 2019 revenue. Having said that, enforced capital discipline, portfolio realignments and productivity efficiencies, the yet unresolved trade tensions all remain a key source of risk to the current positive outlook.
While the Group anticipates that the overall business conditions in the remaining two quarters of the current financial year to remain challenging, they are cautiously optimistic that their performance for the remaining months will be satisfactory. They will continue to be vigilant in their cost management and continually explore ways to improve on their production efficiency. Their priority will be to continue to focus their attention on the quality of their services and efficiencies so as to maintain their competitiveness.
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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.
https://klse.i3investor.com/blogs/general/217602.jsp
James Ng
