[BURSA MALAYSIA BHD：于2020年1月13日推出了全球首份以美元计价的Refined, Bleached and Deodorised Palm Olein Futures，该合约拓宽了棕榈油生产商可能使用的风险管理工具范围，并提高了衍生品交易的水平和复杂性以吸引新类别的参与者]
4Q19 vs 4Q18:
截至2019年12月31日止季度（“ 4Q19”）的税前利润（“ PBT”）为6,330万令吉，较截至2018年12月31日止季度（“ 4Q18”）的7,170万令吉减少11.7％。
证券市场：
证券市场在4Q19录得部门盈利7,480万令吉，较4Q18的7,680万令吉减少2.6％，主要是由于营运费用增加。证券市场在4Q19的营业收入为9,500万令吉，较4Q18的9,350万令吉增加1.6％。
-4Q19的交易收入增加1.9％至5,920万令吉，主要是由于场内交易（OMT）和直接业务（DBT）的平均每日交易值（ADV）上升，4Q19增0.5％达到20亿5000万令吉，而4Q18为20亿4000万令吉。
-由于4Q19的用户数量增加，市场数据收入增长了13.7％，达到770万令吉。
部门开支从4Q18的1,990万令吉增加至4Q19的2,310万令吉，增长了16.0％，这主要是由于4Q19的员工成本增加。
衍生品市场：
衍生品市场在4Q19录得1,150万令吉部门盈利，较4Q18的1,140万令吉微升0.9％。
衍生品市场在4Q19的营业收入为2280万令吉，较4Q18的2130万令吉增加了6.8％。4Q19的交易收入增加7.3％至2,060万令吉，主要是由于棕榈油期货（“ FCPO”）和富时大马隆综合指数Futures（“ FKLI”）合约的交易量高于4Q18。
部门支出在4Q19增加了14.2％至1,180万令吉，而4Q18为1,030万令吉，这主要是由于交易的合约数量增加导致服务费增加。
交易所控股公司：
交易所控股公司在4Q19录得540万令吉的部门亏损，较4Q18的10万令吉高，主要是由于确认了330万令吉的计算机软件减值损失准备金。
其他：
该部门的利润从4Q18的220万令吉下降了62.0％至4Q19的80万令吉，这主要是由于从BSAS交易中获得的交易费降低。
开销：
开销从4Q18的1860万令吉微跌1.3％至1840万令吉。
YTD19 vs YTD18：
截至2019年12月31日止的年度（“ 2019财年”）的PBT为2.558亿令吉，较截至2018年12月31日的3.082亿令吉（2018财年）减少17.0％。
证券市场：
证券市场在2019财年录得2亿9570万令吉的部门利润，较2018财年的3亿3580万令吉减少11.9％，主要是由于营业收入下降。证券市场在2019财年的营业收入为3.722亿令吉，较2018财年的4.095亿令吉减少9.1％。
由于2019财年的用户数量增加，市场数据收入在2019财年增长8.5％至2990万令吉。部门开支由2018财年的8,760万令吉，增加了1.4％至2019财年的8,890万令吉，这主要是由于2019财年的营销和开发费用增加。
衍生品市场：
衍生品市场在2019财年录得3,940万令吉的部门盈利，较2018财年的4,580万令吉减少13.9％。 2019财年衍生品市场的营业收入为8600万令吉，较2018财年的9080万令吉下降5.3％。部门开支由2018财年的4,680万令吉增加3.8％至2019财年的4,860万令吉，这主要是由于2019财年的服务费以及营销和开发费用增加。
交易所控股公司：
交易所控股公司在2019财年录得1,570万令吉的部门亏损，高于2018财年的1,240万令吉，这主要是由于赚取的股息收入减少，以及在2019财年确认了330万令吉的计算机软件减值损失准备金。
其他：
该部门溢利由2018财年的880万令吉，减少了14.8％至2019财年的750万令吉，主要是由于2019财年赚取的BSAS交易费降低，这是由于较低费用的交易比例增加。
开销：
与2018财年的6,980万令吉相比，开销在2019财年增加了1.9％至7,110万令吉，这主要是由于2019财年产生了更高的建筑物管理费用和信息技术维护费用。
4Q19 vs 3Q19：
4Q19 PBT为6330万令吉，较截至2019年9月30日的6,480万令吉减少2.4％。
证券市场：
证券市场在4Q19录得部门盈利7,480万令吉，较3Q19的7,400万令吉增加1.1％，主要是由于营业收入增加。证券市场在4Q19的营业收入为9,500万令吉，较3Q19的9,140万令吉增加3.9％。
交易收入在4Q19增长了6.0％，达到5920万令吉，这主要是由于OMT和DBT的ADV为20.5亿令吉，而3Q19为19.5亿令吉，以及交易日数增加。部门开支从3Q19的2,050万令吉增加12.7％至2,310万令吉，这主要是由于4Q19的市场营销和开发费用增加。
衍生品市场：
衍生品市场在4Q19录得1,150万令吉部门盈利，较3Q19的950万令吉增加21.5％，主要是由于营业收入增加。衍生品市场在4Q19的营业收入为2280万令吉，比3Q19的2060万令吉增加了10.8％。
在4Q19，交易收入增长11.2％至2,060万令吉，这主要是由于FCPO和FKLI交易的合同数量增加，以及交易天数增加。部门开支在4Q19增加2.0％至1,180万令吉，而3Q19则为1,160万令吉。
交易所控股公司：
交易所控股公司在4Q19录得540万令吉的部门亏损，较3Q19的250万令吉高，主要是由于确认了330万令吉的计算机软件减值损失准备金。
其他：
该部门溢利从3Q19的200万令吉减少至4Q19的80万令吉，降幅达59.9％，主要是由于BSAS交易减少使赚取的BSAS交易费较低。
开销：
开销从3Q19的1820万令吉增加了1.4％至4Q19的1840万令吉。
前景：
IMF预计2020年全球增长3.3％。国际货币基金组织还预测，马来西亚的国内生产总值（“ GDP”）将在2020年保持稳定在4.5％，而国内需求将继续是增长的主要动力。同样，世界银行在其2020年1月的报告中预测，马来西亚的经济在2020年将增长4.5％，这在很大程度上得益于强劲的国内需求。同时，马来西亚国家银行（“ BNM”）预计，在家庭支出，出口表现更好以及公共和私营部门总体投资活动温和复苏的持续支持下，马来西亚经济增长将在2020年逐步改善。 2020年1月22日，国行将隔夜政策利率降低25个基点至2.75％。
2020年开局较好，一些商品价格走强，中美贸易紧张局势降温，马币兑美元表现强劲。在政府执行2020年预算案中宣布的扩张性措施以及最近签署的中美贸易协议第一阶段的支持下，预计2020年证券市场的表现将会好。
大马交易所在2019年第四季度的业绩有所改善，并且由于原油棕榈油价格的波动性随着原油棕榈油价格的上涨而增加，因此录得了最高的季度平均每日合约。正在进行的针对大中华地区的举措有望进一步扩大衍生品交易市场，并为2020年的交易业绩做出积极贡献。2019年，交易所促进了新的经纪间关系，并加入了大中华区的新market makers和liquidity providers。交易所最近还于2020年1月13日推出了全球首份以美元计价的Refined, Bleached and Deodorised Palm Olein Futures，该合约拓宽了棕榈油生产商可能使用的风险管理工具范围，并提高了衍生品交易的水平和复杂性以吸引新类别的参与者。
至于回教资本市场，随着年内持续的参与和市场推广工作，交易所期望机构投资者更多地参与大马交易所i平台。另一方面，预计Bursa Suq Al-Sila'（“ BSAS”）将通过其系统改进以及新的国内外参与者不断加入平台来维持其增长动力。本季度回顾中，有11名BSAS的新参与者入职。
除非有任何不可预见的情况，否则交易所预计将从波动中受益，这将在各个市场上提供更大的活动。交易所将继续扩大和加强其服务产品，以增强市场吸引力和活力。
-----------------------------
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 RM2.34 (dividend RM0.025) in 1 year 5 months 19 days, total return is 230.8%
b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.75 (dividend RM0.04) in 1 year 6 months 30 days, total return is 125.2%
c) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM1.25 in 1 year 11 days, total return is 117.4%
d) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM2.78 (adjusted)(dividend RM0.01) in 7 months 29 days, total return is 67.1%
e) PRLEXUS (PROLEXUS BHD), recommended on 25 Aug 19, initial price was RM0.455, rose to RM0.715 in 5 months 6 days, total return is 57.1%
f) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM2.13 (dividends RM0.113) in 1 Year 3 months 24 days, total return is 41.1%
g) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.06 (dividend RM0.015) in 1 Year 1 month 15 days, total return is 34.4%
h) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.59 (dividend RM0.105) in 1 Year 2 months 13 days, total return is 33.5%
i) TSH (TSH RESOURCES BHD), recommended on 30 Jun 19, initial price was RM0.90, rose to RM1.19 in 7 months 1 day, total return is 32.2%
j) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.23 (dividend RM0.018) in 1 Year 1 month 8 days, total return is 29.3%
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页面与我联系。
1)【看懂年报和季报】课程:
11a.m. – 7p.m.，免费茶和咖啡
2月22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
2月23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
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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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[BURSA MALAYSIA BHD: The Exchange recently launched the world’s first options contract on US Dollar Denominated Refined, Bleached and Deodorised Palm Olein Futures on 13 January 2020, which broadens the array of possible risk management tools for palm oil players and elevates the level and sophistication of derivatives trading to attract new categories of participants]
4Q19 vs 4Q18:
Profit Before Tax ("PBT") for the quarter ended 31 December 2019 ("4Q19") was RM63.3 million, a decrease of 11.7 percent compared to RM71.7 million in the quarter ended 31 December 2018 ("4Q18").
Securities Market:
The Securities Market recorded a segment profit of RM74.8 million in 4Q19, a decrease of 2.6 percent compared to RM76.8 million in 4Q18 mainly due to higher operating expenses. The Securities Market's operating revenue for 4Q19 was RM95.0 million, an increase of 1.6 percent compared to RM93.5 million in 4Q18.
-Trading revenue increased by 1.9 percent to RM59.2 million in 4Q19 mainly due to higher Average Daily trading Value ("ADV") for On-Market Trades ("OMT") and Direct Business Trades ("DBT"), which increased by 0.5 per cent to RM2.05 billion in 4Q19 compared to RM2.04 billion in 4Q18.
-Market data revenue increased by 13.7 percent to RM7.7 million in 4Q19 driven by higher number of subscribers in 4Q19.
Segment expenses increased by 16.0 percent to RM23.1 million in 4Q19 compared to RM19.9 million in 4Q18 mainly due to higher staff costs incurred in 4Q19.
Derivatives Market:
The Derivatives Market recorded a segment profit of RM11.5 million in 4Q19, a marginal increase of 0.9 per cent from RM11.4 million in 4Q18.
The Derivatives Market's operating revenue for 4Q19 was RM22.8 million, an increase of 6.8 percent compared to RM21.3 million in 4Q18. Trading revenue increased by 7.3 percent to RM20.6 million in 4Q19 mainly due to higher number of Crude Palm Oil Futures("FCPO") and FTSE Bursa Malaysia KLCI Futures ("FKLI") contracts traded in 4Q19 compared to 4Q18.
Segment expenses increased by 14.2 percent to RM11.8 million in 4Q19 compared to RM10.3 million in 4Q18 mainly due to higher service fees incurred from the higher number of contracts traded in 4Q19.
Exchange Holding Company:
The Exchange Holding Company recorded a higher segment loss of RM5.4 million in 4Q19 compared to RM0.1 million in 4Q18 mainly due to the recognition of an impairment loss allowance on computer software of RM3.3 million in 4Q19.
Others:
The segment profit decreased by 62.0 percent to RM0.8 million in 4Q19 compared to RM2.2 million in 4Q18 mainly due to lower trading fees earned from BSAS trades in 4Q19.
Overheads:
Overheads decreased marginally by 1.3 percent to RM18.4 million in 4Q19 compared to RM18.6 million in 4Q18.
YTD19 vs YTD18:
PBT for the year-to-date ended 31 December 2019 ("FY2019") was RM255.8 million, a decrease of 17.0 percent from RM308.2 million in the year ended 31 December 2018 ("FY2018").
Securities Market:
The Securities Market recorded a segment profit of RM295.7 million in FY2019, a decrease of 11.9 percent compared to RM335.8 million in FY2018 mainly due to lower operating revenue. The Securities Market's operating revenue for FY2019 was RM372.2 million, a decrease of 9.1 percent compared to RM409.5 million in FY2018.
Market data revenue increased by 8.5 percent to RM29.9 million in FY2019 driven by higher number of subscribers in FY2019. Segment expenses increased by 1.4 percent to RM88.9 million in FY2019 compared to RM87.6 million in FY2018 mainly due to higher marketing and development expenses incurred in FY2019.
Derivatives Market:
The Derivatives Market recorded a segment profit of RM39.4 million in FY2019, a decrease of 13.9 percent compared to RM45.8 million in FY2018 mainly due to lower operating revenue. The Derivatives Market's operating revenue for FY2019 was RM86.0 million, a decrease of 5.3 percent compared to RM90.8 million in FY2018. Segment expenses increased by 3.8 percent to RM48.6 million in FY2019 compared to RM46.8 million in FY2018 mainly due to higher service fees and marketing and development expenses incurred in FY2019.
Exchange Holding Company:
The Exchange Holding Company recorded a higher segment loss of RM15.7 million in FY2019 compared to RM12.4 million in FY2018 mainly due to lower dividend income earned and the recognition of an impairment loss allowance on computer software of RM3.3 million in FY2019.
Others:
The segment profit decreased by 14.8 percent to RM7.5 million in FY2019 compared to RM8.8 million in FY2018 mainly due to lower BSAS trading fees earned in FY2019 resulting from higher proportion of trades where lower fee is applicable.
Overheads:
Overheads increased by 1.9 percent to RM71.1 million in FY2019 compared to RM69.8 million in FY2018 mainly due to higher building management expenses and information technology maintenance expenses incurred in FY2019.
4Q19 vs 3Q19:
PBT for 4Q19 was RM63.3 million, a decrease of 2.4 percent from RM64.8 million in the quarter ended 30 September 2019 ("3Q19").
Securities Market:
The Securities Market recorded a segment profit of RM74.8 million in 4Q19, an increase of 1.1 percent from RM74.0 million in 3Q19 mainly due to higher operating revenue. The Securities Market's operating revenue for 4Q19 was RM95.0 million, an increase of 3.9 percent compared to RM91.4 million in 3Q19.
Trading revenue increased by 6.0 percent to RM59.2 million in 4Q19 mainly attributed to higher ADV for OMT and DBT of RM2.05 billion in 4Q19 compared to RM1.95 billion in 3Q19, as well as higher number of trading days in 4Q19. Segment expenses increased by 12.7 percent to RM23.1 million from RM20.5 million in 3Q19 mainly due to higher marketing and development expenses incurred in 4Q19.
Derivatives Market:
The Derivatives Market recorded a segment profit of RM11.5 million in 4Q19, representing an increase of 21.5 percent from RM9.5 million in 3Q19 mainly due to higher operating revenue. The Derivatives Market's operating revenue for 4Q19 was RM22.8 million, an increase of 10.8 percent from RM20.6 million in 3Q19.
Trading revenue increased by 11.2 percent to RM20.6 million in 4Q19 mainly attributed to higher number of contracts traded for FCPO and FKLI, as well as higher number of trading days in 4Q19. Segment expenses increased by 2.0 percent to RM11.8 million in 4Q19 compared to RM11.6 million in 3Q19.
Exchange Holding Company:
The Exchange Holding Company recorded a higher segment loss of RM5.4 million in 4Q19 compared to RM2.5 million in 3Q19 mainly due to the recognition of an impairment loss allowance on computer software of RM3.3 million in 4Q19.
Others:
The segment profit decreased by 59.9 percent to RM0.8 million in 4Q19 compared to RM2.0 million in 3Q19 mainly due to lower BSAS trading fees earned in 4Q19 resulting from lower BSAS trades.
Overheads:
Overheads increased by 1.4 per cent to RM18.4 million in 4Q19 compared to RM18.2 million in 3Q19.
Prospects:
For 2020, the IMF has projected a global growth of 3.3%. The IMF also projected the gross domestic product (“GDP”) for Malaysia to remain stable at 4.5% in 2020, with domestic demand to remain the main driver of growth. Similarly, the World Bank, in its January 2020 report, projected for Malaysia’s economy to grow at 4.5% in 2020, largely underpinned by strong domestic demand. Meanwhile, Bank Negara Malaysia(“BNM”) expects the growth of Malaysia’s economy to gradually improve in 2020, with continued support from household spending, better export performance and modest recovery in overall investment activity by both the public and private sectors. On 22 January 2020, BNM reduced the overnight policy rate by 25 basis points to 2.75%.
The year 2020 has started on a better note with broader strength in some commodity prices, de-escalation of US-China trade tensions and stronger MYR/USD performance. The Securities Market’s performance in 2020 is expected to be resilient, supported by the implementation of the Government’s expansionary measures as announced in the Budget 2020 and the recent signing of phase one of the trade agreement between the United States and China.
The Exchange recorded an improved performance in the fourth quarter of 2019 and registered the highest quarterly average daily contracts as the volatility in crude palm oil prices increased with the rally in crude palm oil prices. The ongoing initiatives focusing on the Greater China region are expected to further broaden the derivatives trading community and contribute positively to trading performance in 2020. In 2019, the Exchange facilitated new inter-broke relationships and onboarded new market makers and liquidity providers from the Greater China region. The Exchange also recently, launched the world’s first options contract on US Dollar Denominated Refined, Bleached and Deodorised Palm Olein Futures on 13 January 2020, which broadens the array of possible risk management tools for palm oil players and elevates the level and sophistication of derivatives trading to attract new categories of participants.
As for the Islamic Capital Market, with the continuous engagement and marketing efforts carried out during the year, the Exchange expects greater participation of institutional investors on the Bursa Malaysia-i platform. Bursa Suq Al-Sila' (“BSAS”), on the other hand, is expected to sustain its growth momentum through its system improvement as well as continuous onboarding of new domestic and foreign participants onto its platform. The current quarter under review saw the onboarding of 11 new participants for BSAS.
Barring any unforeseen circumstances, the Exchange is expected to benefit from volatility which will provide greater activity in the respective markets. The Exchange will continue to expand and strengthen its products and service offerings to enhance the market attractiveness and vibrancy.
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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/2020-02-01-story-h1483013949.jsp
