[MBM RESOURCES BHD：受益于2018年8月31日结束的商品及服务税的税收假期]
3Q18 vs 3Q17:
本季度，这集团的收入较上一季度增加了570万令吉或1.2％至4亿7240万令吉。由于汽车零部件制造部门及联营公司的业绩改善，PBT较上年同期增加了3340万令吉或286.4％，收益为4510万令吉。上年同期季度，这集团亦确认一次性商誉减值1,080万令吉，而本季度并无减值。这集团应占联营公司业绩较上一季度增加1,540万令吉或65.0％，收益为3,920万令吉。
汽车交易：
本季度的收入较同期增加690万令吉或1.7％至4.174亿令吉。由于2018年7月和8月的免税商品定价导致车辆需求增加，推动了业绩的改善。
汽车零件制造：
本季度的收入较上一季度增加了150万令吉或2.9％至5470万令吉，主要原因是产品组合和生产需求增加以满足车辆供应短缺。该部门的税前亏损为130万令吉，较相应季度的税前亏损840万令吉增加了710万令吉或84.7％。较低的损失是合金车轮厂和模块化装配厂不断提高生产效率的结果。
3Q18 vs 2Q18:
本季度的PBT为4510万令吉，改善了190万令吉或4.4％，主要来自汽车制造部门。
汽车交易：
该部门的PBT略微上涨0.6％，这是由于出售投资物业的一次性收益所致。
汽车零件制造：
该部门的收入较上一季度高出130万令吉或2.5％。由于收入增加，该部门的税前亏损大幅减少270万令吉或67.6％。收入增加主要是由于产品组合和较高的生产需求，以满足车辆供应短缺。合金车轮厂的生产效率的不断提高进一步降低了损失。
前景：
正如上一季度的预期，这集团的汽车销售受益于2018年8月31日结束的商品及服务税的税收假期。但是，由于库存不足以满足市场需求以及9月重新引入SST削弱了消费者的兴趣。由于大多数消费者的购买兴趣已在消费税假期期间得到满足，这集团预计今年余下时间的经营环境将充满挑战。
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James Ng Stock Pick Performance:
Since Recommended Return:
1) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.945 in 4 months 22 days, total return is 18.9%
2) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.83 in 3 months 11 day, total return is 16.1%
3) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.10 in 1 month 9 days, total return is 11.1%
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。
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James Ng
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[MBM RESOURCES BHD: benefited from the GST tax-holiday period which ended on 31 August 2018]
3Q18 vs 3Q17:
For the current quarter, the Group's revenue improved by RM5.7 million or 1.2% to RM472.4 million against the corresponding quarter. PBT is higher by RM33.4 million or 286.4% to close at RM45.1 million due to improved results from the Auto Parts Manufacturing Division as well as the associates. In the corresponding quarter, the Group also recognised an one-off goodwill impairment of RM10.8 million, whereas no impairment was made in the current quarter. The Group's share of associates' results increased by RM15.4 million or 65.0% against the corresponding quarter to close at RM39.2 million.
Motor Trading:
Revenue for the current quarter increased by RM6.9 million or 1.7% to RM417.4 million against the corresponding period. The improved performance is driven by higher demand for vehicles resulting from the GST-free pricing in July and August 2018.
Auto Parts Manufacturing:
Revenue for the quarter increased by RM1.5 million or 2.9% to RM54.7 million against the corresponding quarter mainly due to product mix and higher production demand to meet vehicles supply shortage. The Division closed at a loss before tax of RM1.3 million, an improvement of RM7.1 million or 84.7% as compared to the corresponding quarter's loss before tax of RM8.4 million. The lower losses was a result of continuous improvements in production efficiency at both the alloy wheel plant as well as the modular assembly plant.
3Q18 vs 2Q18:
PBT for the quarter was RM45.1 million, an improvement of RM1.9 million or 4.4% contributed mainly from the Auto Manufacturing Division.
Motor Trading:
The Division's PBT was marginally higher by 0.6% contributed by a one-off gain on sale of investment properties.
Auto Parts Manufacturing:
The Division's revenue was higher by RM1.3 million or 2.5% against the preceding quarter. With the higher revenue, the loss before tax for the Division reduced significantly by RM2.7 million or 67.6%. The higher revenue was mainly due to product mix and higher production demand to meet vehicles supply shortage. Continuous improvement in production efficiency at the alloy wheel plant further reduced the losses.
Prospects:
As anticipated in the earlier quarter, the Group's vehicle sales benefited from the GST tax-holiday period which ended on 31 August 2018. The higher demand was however, suppressed by insufficient stocks to meet market demand, as well as the reintroduction of SST in September which dampened consumers' interest. The Group expects the operating environment for the remainder of the year to be challenging given that most of consumers' buying interest have been fulfilled during the GST tax-holiday period.
------------------------------------------------
James Ng Stock Pick Performance:
Since Recommended Return:
1) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.945 in 4 months 22 days, total return is 18.9%
2) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.83 in 3 months 11 day, total return is 16.1%
3) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.10 in 1 month 9 days, total return is 11.1%
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://klse.i3investor.com/blogs/general/183157.jsp by date.
James的股票投资James Share Investing Blog: https://klse.i3investor.com/blogs/general/
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Final decision is always yours, thank you.
James Ng
https://klse.i3investor.com/blogs/general/183676.jsp
