[ENGTEX GROUP BHD，受到国际及国内金属价格波动及建筑，公用事业及基建及物业发展等项目的实施时间点的影响]
相应的除税前溢利减少主要由于去年同期出售一个约710万令吉的柔佛空置工业用地所得收益，若干制造钢铁产品的市场价格竞争及原材料成本上升以及最近在甲洞完成的Amanja房地产开发项目的建设成本上升。银行借款总额主要用于买进原材料及贸易库存，而融资营运资金需求已由二零一七年十二月三十一日的5亿4810万令吉增加至2018年3月31日的5亿6160万令吉，而现金及现金等价物则由截至二零一七年十二月三十一日止的RM1.118亿减少至二零一八年三月三十一日止的8,950万令吉，主要用于为较多存货付资金及削减定期贷款。勇达集团的财务状况处于可管理水平，于二零一八年三月三十一日的净负债比率为0.67倍，而二零一七年十二月三十一日的比率为0.63倍，令本集团在现金流量管理方面拥有更佳灵活性。
批发和分销部门：
税前利润和营收的增加主要是由于国际和国内金属价格波动导致某些金属相关贸易产品的市场需求反弹。
制造部门：
该分部的营收和税前利润分别为1450万令吉和860万令吉，分别比2017年下降39.0％和53.9％。2018年税前运营利润为860万令吉，较二零一七年的1150万令吉（不包括出售一幅约710万令吉的空置工业用地收益）低，主要由于市场价格竞争加剧及原材料成本增加所致。
房地产开发部门：
该分部录得税前亏损190万令吉，主要由于项目的建筑成本上升。
招待部门：
该分部录得160万令吉的除税前合并亏损，主要由于本季度财务成本及折旧共计150万令吉。
与截至二零一七年十二月三十一日止前一季度相比，营收及除税前溢利减少主要由于若干金属相关贸易产品及制造钢铁产品的市场需求疲软，以及国际及本地金属价格波动及最近完成的甲洞房地产开发项目的建设成本不断上升。
前景：
本季度建筑业增长放缓。在交通运输，石化和发电厂项目的支持下，土木工程子行业增长强劲，住宅和非住宅子行业活动疲弱影响该行业表现。这与大量未售出的住宅物业以及持续的商业物业分部弱点（办公空间和购物中心的供应过剩）相一致。
勇达集团表现将继续受到国际及国内金属价格波动及建筑，公用事业及基建及物业发展等项目的实施时间点的影响。董事对勇达集团本年度的表现持谨慎乐观态度，这取决于内需和全球经济环境。
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The decrease in corresponding profit before taxation was mainly due to a gain on disposal of a piece of vacant industrial land in Johor of approximately RM7.1 million in the preceding year corresponding period, increased market price competition and raw material costs for certain manufactured steel products, and the escalated construction cost for its recently completed Amanja property development project in Kepong. Total bank borrowings mainly used to procure raw materials and trading inventories, and finance working capital requirement has increased from RM548.1 million as at 31 December 2017 to RM561.6 million as at 31 March 2018 and the reduction in cash and cash equivalents from RM111.8 million as at 31 December 2017 to RM89.5 million as at 31 March 2018 were mainly utilised to finance higher inventories and pare down bridging and term loans. The Group’s financial position is at manageable level with net gearing at 0.67 times as at 31 March 2018 as compared to 0.63 times as at 31 December 2017 and this enables the Group to have better flexibility in cash flow management.
Wholesale and distribution division:
The increase in revenue and profit before tax was mainly attributed to the rebound in market demand for certain metal related trading products in light of the volatility in international and domestic metal prices.
Manufacturing division:
The division recorded a lower segment revenue and profit before tax of RM14.5 million and RM8.6 million respectively representing a decrease of 39.0% and 53.9% respectively as compared to 2017. The operating profit before tax in 2018 of RM8.6 million was lower as compared to RM11.5 million (excluding the gain on disposal of a piece of vacant industrial land of approximately RM7.1 million) in 2017 mainly due to increased market price competition and the increase in raw material costs.
Property development division:
The division recorded a loss before tax of RM1.9 million mainly due to escalated construction cost of project.
Hospitality division:
The division recorded a combined loss before tax of RM1.6 million mainly attributable to the finance cost and depreciation incurred totaling RM1.5 million during the current quarter.
The decrease in revenue and profit before tax as compared to preceding quarter ended 31 December 2017 was mainly due to the softening of market demand for certain metal related trading products and manufactured steel products in tandem with the volatility in international and local metal prices, and the escalated construction cost in the recently completed property development project in Kepong.
Prospects:
Growth in the construction sector moderated in the quarter. While growth of the civil engineering sub-sector was stronger, supported by the transportation, petrochemical and power plant projects, the sector’s performance was affected by weaker activity in the residential and non-residential sub-sectors. This is consistent with the significant number of unsold residential properties and the ongoing weaknesses in the commercial property segment (oversupply of office spaces and shopping complexes).
The performance of the Group will continue to be affected by factors such as the volatility in the international and domestic metal prices, and the timely implementation of projects in the construction, utilities and infrastructure and property development sectors. The Directors remain cautiously optimistic on the performance of the Group in the current year which is dependent on the domestic demand and global economic environment.
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James Ng
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