[KOSSAN RUBBER INDUSTRIES BHD：集团最新的17号工厂（15亿件）的产能已经全部用完，预计下一季度将有可观的贡献，工厂18（25亿件）和工厂19（30亿件）的建设工程目前正在进行中，预计分别在2019年第二季度和2019年第四季度全面投入使用]
YTD18 vs YTD17:
截至2018年12月31日止财政年度的12个月，高产柅品录得有史以来最高收入，超过20亿令吉至21.4424亿令吉，较2017财年的19.5763亿令吉增加9.53％。税前利润（PBT）为2.4933亿令吉，较去年的2.2831亿令吉上升9.21％。利润更为强劲的主要原因是手套和TRP部门的表现与上一年相比有所改善。
手套部门在2018财年的收入为18.7681亿令吉，较去年的17.1662亿令吉增长9.33％。 PBT为2.1854亿令吉，较上一财政年度录得的2.0856亿令吉上升4.78％。业绩改善主要归因于高产柅品手套产品需求强劲增长，与2017财年相比，平均售价较高（+ 6.1％）及销量较高（+ 9.7％），以及制造效率增加和有效成本控制。在本报告所述期间，天然橡胶价格下跌（-27.61％）。
技术橡胶产品（TRPs）部门的收入在2018财年增长13.99％至1.8462亿令吉，而2017财年为1.6196亿令吉，而PBT从上一财政年度的1,623万令吉飙升75.55％至2,849万令吉。业绩改善主要归因于销售额增加及利润率较高的产品销售。Cleanroom部门在2018财年的收入和PBT分别为7953万令吉和357万令吉，而2017财年则为7636万令吉和295万令吉。
4Q18 vs 4Q17:
于4Q18，高产柅品录得收入5.8937亿令吉，较4Q17的4.7777亿令吉增加23.36％。 PBT本季度增长21.02％至7,140万令吉，而去年同期则为5,900万令吉。改善的表现归功于所有三个部门 - 手套，TRP和Cleanroom的改进。
手套部门的收入从2017年第4季度的4.1429亿令吉增加25.36％至4Q18的5亿1936万令吉，本季度PBT增加16.72％至6,250万令吉，而去年同期则为5355万令吉。由于对高产柅品手套产品的持续强劲需求，平均售价较高（+ 7.5％）及销售量较去年（+ 17.3％）同期增加，因此业绩改善。在本报告所述期间，天然橡胶价格下跌（-19.36％）。
TRPs部门4Q18的收入为5,038万令吉，较4Q17的4,219万令吉增加19.42％，而本季度PBT则飙升91.31％至846万令吉，而去年同期则为442万令吉。业绩改善主要归因于销售额增加及利润率较高的产品销售。Cleanroom部门在4Q18的收入和PBT分别为1,883万令吉和110万令吉，而2017年第4季度则为2,023万令吉和64万令吉。
4Q18 vs 3Q18:
按季度计算，集团收入在4Q18增长2.70％至5.8937亿令吉，而上一季度为5.739亿令吉。税前利润（PBT）从3Q18的7083万令吉增加至7,140万令吉。手套部门录得收入为5.1936亿令吉，较3Q18的5.0578亿令吉增加2.69％。对手套产品的需求继续强劲，4Q18销量（+ 2.5％），较前一季度有所增加，所有工厂均满负荷运转。
TRPs部门本季度录得收入5,038万令吉，较3Q18录得的4,613万令吉增加9.23％，而PBT则增加22.90％至846万令吉，而上一季度为688万令吉。表现较好的主要原因是销售额增加以及利润率较高的产品销售额增加。Cleanroom部门在4Q18的收入和PBT分别为1883万令吉和110万令吉，而3Q18则分别为2103万令吉和92万令吉。
前景：
对集团手套产品的需求持续强劲。集团最新的17号工厂（15亿件）的产能已经全部用完，预计下一季度将有可观的贡献。工厂18（25亿件）和工厂19（30亿件）的建设工程目前正在进行中，预计分别在2019年第二季度和2019年第四季度全面投入使用。
此后，集团扩张的下一阶段将集中于目前处于规划阶段的霹雳州Bidor，将于2020年开始，并需要8年才能完成。此外，集团位于Bestari Jaya的土地储备占地约56英亩，位于Kuala Langat的土地占地约98英亩，为集团的扩张计划提供了更大的灵活性和可持续性。对于技术橡胶产品部门，高产柅品认为该部门稳定且为2019年的表现表示乐观。
Kossan继续推行其转型和增长战略。随着集团的扩张计划和新产能的投产，对手套的持续需求，对成本节约，产品质量和创新的明确关注，以及生产技术和运营效率的提高，管理层确信2019财年将是一个集团成长年份。
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James Ng Stock Pick Performance:
Since Recommended Return:
a) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.07 in 2 months 2 days, total return is 33.8%
b) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.945 (dividend RM0.007) in 6 months 6 days, total return is 33.1%
c) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.27 in 1 month 27 days, total return is 31.6%
d) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.04 in 7 months 19 days, total return is 30.8%
e) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.24 (dividend RM0.0375) in 4 months 4 day, total return is 20.5%
f) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.97 in 1 month 21 day, total return is 14.1%
g) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.34 (dividend RM0.035) in 3 months, total return is 8.3%
h) HSL (HOCK SENG LEE BHD), recommended on 1 Jul 18, initial price was RM1.40, rose to RM1.45 (dividend RM0.01) in 7 months 17 days, total return is 4.3%
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 https://web.facebook.com/jamesshareinvest/ 与我联系
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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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[KOSSAN RUBBER INDUSTRIES BHD: capacity for the Group’s latest Plant 17 (1.5 billion pieces) has been fully taken up, with meaningful contributions expected in the coming quarter, construction works for Plant 18 (2.5 billion pieces) and Plant 19 (3 billion pieces) are currently on-track, with expected full commissioning by the 2nd quarter of 2019 and 4th quarter of 2019 respectively]
YTD18 vs YTD17:
For the 12 months of financial year ended 31 December 2018, the Group recorded its highest ever revenue, surpassing the two-billion-ringgit-mark to RM2,144.24 million, an increase of 9.53% as compared with RM1,957.63 million in FY2017. Profit before taxation (PBT) was RM249.33 million, rising 9.21% as compared with RM228.31 million last year. The stronger results were mainly attributable to the improved performance in the Gloves and TRPs divisions as compared with the previous year.
The Gloves division’s revenue was RM1,876.81 million in FY2018, an increase of 9.33% compared with RM1716.62 million last year. PBT was RM218.54 million, rising 4.78% compared with RM208.56 million recorded in the previous financial year. The improved performance was mainly attributable to the strong demand growth for the Group’s glove products, with higher average selling prices (+6.1%) and higher volume sold (+9.7%) as compared with FY2017, as well as increased manufacturing efficiency and effective cost controls. In the period under review, natural rubber prices declined (-27.61%).
The Technical Rubber Products (TRPs) division’s revenue rose 13.99% to RM184.62 million in FY2018 as compared with RM161.96 million in FY2017, while PBT soared 75.55% to RM28.49 million from RM16.23 million recorded in the previous financial year. The improved performance was mainly attributable to increased sales deliveries and sales of higher margin products. The Cleanroom division recorded revenue and PBT of RM79.53 million and RM3.57 million respectively for FY2018, as compared with RM76.36 million and RM2.95 million in FY2017.
4Q18 vs 4Q17:
For 4Q18, the Group recorded revenue of RM589.37 million, an increase of 23.36% as compared with RM477.77 million in 4Q17. PBT rose 21.02% to RM71.40 million in the current quarter as compared with RM59.00 million in the previous year quarter. The improved performance was attributable to improvements in all three divisions - Gloves, TRPs and Cleanroom.
The Gloves division’s revenue rose 25.36% to RM519.36 million in 4Q18 from RM414.29 million in 4Q17, with PBT increasing by 16.72% to RM62.50 million in the current quarter as compared with RM53.55 million from a year ago. The improved performance was achieved on the back of continued strong demand for the Group’s glove products, with higher average selling prices (+7.5%) and higher volume sold (+17.3%) as compared with the previous year quarter. In the period under review, natural rubber prices declined (-19.36%).
The TRPs division’s revenue of RM50.38 million in 4Q18 was 19.42% higher as compared with RM42.19 million in 4Q17, while PBT soared 91.31% to RM8.46 million in the current quarter compared with RM4.42 million in the previous year quarter. The improved performance was mainly attributable to increased sales deliveries and sales of higher margin products. The Cleanroom division recorded revenue and PBT of RM18.83 million and RM1.10 million respectively in 4Q18, as compared with RM20.23 million and RM0.64 million in 4Q17.
4Q18 vs 3Q18:
On a quarter-on-quarter basis, Group revenues grew 2.70% to RM589.37 million in 4Q18 as compared with RM 573.90 million in the immediate preceding quarter. Profit before tax (PBT) increased to RM71.40 million from RM70.83 million in 3Q18. The Gloves division recorded revenue of RM519.36 million, increasing 2.69% from RM505.78 million in 3Q18. The demand for glove products continues to be strong with higher volume sold (+2.5%) in 4Q18 as compared with the immediate preceding quarter, with all plants operating at full capacity.
The TRPs division recorded revenue of RM50.38 million in the current quarter, an increase of 9.23% compared with the RM46.13 million recorded in 3Q18, while PBT increased 22.90% to RM8.46 million compared with RM6.88 million in the immediate preceding quarter. The better performance was mainly attributable to higher sales deliveries and sales of higher margin products. The Cleanroom division recorded revenue and PBT of RM18.83 million and RM1.10 million respectively in 4Q18, as compared with from RM21.03 million and RM0.92 million in 3Q18.
Prospects:
Demand for the Group’s glove products continues to be strong. Capacity for the Group’s latest Plant 17 (1.5 billion pieces) has been fully taken up, with meaningful contributions expected in the coming quarter. Construction works for Plant 18 (2.5 billion pieces) and Plant 19 (3 billion pieces) are currently on-track, with expected full commissioning by the 2nd quarter of 2019 and 4th quarter of 2019 respectively.
Thereafter, the next phase of the Group’s expansion will be centred on Bidor, Perak, which is currently in the planning stage, to commence in 2020 and to take eight years to complete. Additionally, the Group’s landbanks in Bestari Jaya which measures approximately 56 acres and in Kuala Langat which measures approximately 98 acres, provides added flexibility and sustainability to the Group’s expansion plans. For the Technical Rubber Products division, the Group views this division as stable and is optimistic of the performance for 2019.
Kossan has continued to pursue its transformation and growth strategies. With the Group’s expansion plans and new capacity coming on-stream, continued demand for their gloves, a clear focus on cost savings, product quality and innovation, as well as improvements in production technology and operating efficiency, Management is confident that FY2019 will be a growth year for the Group.
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James Ng Stock Pick Performance:
Since Recommended Return:
a) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.07 in 2 months 2 days, total return is 33.8%
b) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.945 (dividend RM0.007) in 6 months 6 days, total return is 33.1%
c) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.27 in 1 month 27 days, total return is 31.6%
d) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.04 in 7 months 19 days, total return is 30.8%
e) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.24 (dividend RM0.0375) in 4 months 4 day, total return is 20.5%
f) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.97 in 1 month 21 day, total return is 14.1%
g) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.34 (dividend RM0.035) in 3 months, total return is 8.3%
h) HSL (HOCK SENG LEE BHD), recommended on 1 Jul 18, initial price was RM1.40, rose to RM1.45 (dividend RM0.01) in 7 months 17 days, total return is 4.3%
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://web.facebook.com/jamesshareinvest/posts/2197412517192157 by date.
James的股票投资James Share Investing Blog: https://klse.i3investor.com/blogs/general/
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Facebook Group: https://www.facebook.com/groups/jamesinvesting
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/194058.jsp
