[MALAKOFF CORP BHD：在2019年12月，该集团中标了小型水电项目，彭亨州的总容量为55兆瓦，通过可持续能源发展局（SEDA）的竞争性Feed-in Tariff (“FiT”)的招标]
4Q19 vs 4Q18:
截至2019年12月31日的季度，马拉卡的收入为17.411亿令吉，较截至2018年12月31日的相应季度的18.873亿令吉减少7.7％，主要是由于Tanjung Bin Power Sdn. Bhd. (“TBP”)的能源付款减少（鉴于适用的煤炭价格（“ ACP”）下降）。
相应地，马拉卡的除税前利润较低，为1.377亿令吉，较截至2018年12月31日的相应季度的1.565亿令吉减少12.0％，这主要是由于ACP较低导至TBP火力发电站较低的贡献，较低的daily utilisation payment (“DUP”)是由于现有Purchase Power Agreement (“PPA”)计划的电价下调，来自拥有40％股份的Kapar Energy Ventures Sdn. Bhd. (“KEV”)的亏损份额高于预期，和投资于KEV的账面价值的净减值损失。
YTD19 vs YTD18：
收入的增长被2019年第四季度ACP下降影响导至TBP燃煤电厂较低的能源付款，以及波德申电厂的3年PPA延期在28 February 2019届满到期所抵销。相反，马拉卡记录税前盈利为5.309亿令吉，比上一年的5.592亿令吉减少5.1％，主要是由于TBP燃煤电厂的贡献下降，受ACP下降，更高的运营和维护成本，高于预期的KEV亏损份额，和KEV投资账面价值的净减值损失。
4Q19 vs 3Q19:
集团在本季录得除税前溢利1.377亿令吉，较前一季的1.390亿令吉减少，主要是由于KEV亏损高于预期，以及KEV投资账面值的净减值亏损。
前景：
集团将继续按照政府的目标（到2025年将可再生能源发电能力提高到20％），继续扩大其在可再生能源领域的业务。在2019年12月，该集团中标了小型水电项目，彭亨州的总容量为55兆瓦，通过可持续能源发展局（SEDA）的竞争性Feed-in Tariff (“FiT”)的招标。于2019年12月31日，其Tanjung Bin Energy燃煤电厂已成功达到Unscheduled Outage Rate (“UOR”)低于6％，因这年完成了主要的维护和整改工作。
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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 RM2.45 (dividend RM0.025) in 1 year 6 months 7 days, total return is 246.2%
b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM2.24 (dividend RM0.04) in 1 year 7 months 18 days, total return is 186.8%
c) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM1.52 in 1 year 30 days, total return is 164.3%
d) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM3.32 (adjusted)(dividend RM0.01) in 8 months 17 days, total return is 99.4%
e) PRLEXUS (PROLEXUS BHD), recommended on 25 Aug 19, initial price was RM0.455, rose to RM0.78 in 5 months 25 days, total return is 71.4%
f) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM2.37 (dividends RM0.113) in 1 Year 4 months 12 days, total return is 56.2%
g) TSH (TSH RESOURCES BHD), recommended on 30 Jun 19, initial price was RM0.90, rose to RM1.34 in 7 months 20 days, total return is 48.9%
h) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.12 (dividend RM0.015) in 1 Year 2 months 3 days, total return is 41.9%
i) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM5.34 (adjusted) (dividend RM0.13431) in 1 Year 6 months 21 days, total return is 38.2%
j) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.63 (dividend RM0.105) in 1 Year 3 months 1 day, total return is 36.6%
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
3月21日星期六：Silka Johor Bahru Hotel, Johor Bahru 7份点心
3月29日星期日：Hotel Sri Petaling, KL 3份点心
4月19日星期日：AG Hotel Penang, George Town 2份点心
2)【股票-实际操作班】课程：
10a.m. – 9p.m.，免费午餐和晚餐
3月22日星期日：Silka Johor Bahru Hotel, Johor Bahru
3月28日星期六：Hotel Sri Petaling, KL
4月18日星期六：AG Hotel Penang, George Town
有兴趣的朋友，可以电邮或PM FB page联络我
email：jamesngshare@gmail.com
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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
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[MALAKOFF CORP BHD: In December 2019, the Group won the bids for its small hydro power projects with a total capacity of 55MW in Pahang through a competitive Feed-in Tariff (“FiT”) e-bidding by the Sustainable Energy Development Authority (“SEDA”)]
4Q19 vs 4Q18:
For the quarter ended 31 December 2019, the Group recorded RM1,741.1 million in revenue, a decrease of 7.7% from RM1,887.3 million reported in the corresponding quarter ended 31 December 2018, primarily due to lower energy payment recorded from Tanjung Bin Power Sdn. Bhd. (“TBP”) given the decline in applicable coal price (“ACP”).
Correspondingly, the Group recorded lower profit before taxation of RM137.7 million, a decrease of 12.0% from RM156.5 million reported in corresponding quarter ended 31 December 2018, primarily due to lower contribution from TBP coal plant impacted by the decline in ACP and lower daily utilisation payment (“DUP”) recorded following scheduled reduction in tariff under the existing Purchase Power Agreement (“PPA”), higher-than-expected share of losses from 40%-owned Kapar Energy Ventures Sdn. Bhd. (“KEV”) and net impairment loss on carrying value of investment in KEV.
YTD19 vs YTD18:
The increase in revenue was partially offset by lower energy payment recorded from TBP coal plant impacted by the decline in ACP during the fourth quarter of 2019 and expiry of Port Dickson Power plant’s 3-year PPA extension on 28 February 2019. Conversely, the Group recorded profit before taxation of RM530.9 million, a decrease of 5.1% from RM559.2 million reported in the preceding year, primarily due to lower contribution from TBP coal plant impacted by the decline in ACP, higher operation and maintenance costs, higher-than-expected share of losses from KEV and net impairment loss on carrying value of investment in KEV.
4Q19 vs 3Q19:
The Group recorded lower profit before taxation of RM137.7 million in the current quarter compared with RM139.0 million in the immediate preceding quarter, primarily due to higher than expected share of losses from KEV and net impairment loss on carrying value of investment in KEV.
Prospects:
The Group will continue to expand its footprint in the RE sector in line with the Government’s target to increase the RE generation capacity to 20% by 2025. In December 2019, the Group won the bids for its small hydro power projects with a total capacity of 55MW in Pahang through a competitive Feed-in Tariff (“FiT”) e-bidding by the Sustainable Energy Development Authority (“SEDA”). Their Tanjung Bin Energy coal power plant had successfully achieved Unscheduled Outage Rate (“UOR”) below the 6% threshold as at 31 December 2019 post completion of major maintenance and rectification works during 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/2020-02-20-story-h1483880963.jsp
