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Author: James Ng   |   Latest post: Fri, 15 Nov 2019, 9:16 AM

 

[转贴] [DAIBOCHI PLASTIC & PACKAGING INDUSTRY BHD:可能会继续面临原材料价格高企,运营成本上升以及近期外汇汇率波动的问题] - James的股票投资James Share Investing

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[DAIBOCHI PLASTIC & PACKAGING INDUSTRY BHD:可能会继续面临原材料价格高企,运营成本上升以及近期外汇汇率波动的问题]

3Q18 vs 3Q17:
尽管在菲律宾实施对含糖饮料征收消费税之后,主要客户(特别是菲律宾市场)的销售额下降了350万令吉,但收入增长仍然实现。集团税前利润(「PBT」)由去年同期的1048万令吉减少38.9%至641万令吉,主要原因是原材料成本上升,尤其是溶剂和聚酯薄膜。耐慕志亦于本季度确认外币兑换(「外汇」)亏损136万令吉,与上一季度的外汇收益634,000令吉相比,较不利。这一变化是由于美元兑马来西亚令吉和缅甸缅元(“MMK”)的走强,这对耐慕志的美元计价交易及其美元定期贷款(融资Daibochi缅甸)产生了重大影响。

由于美元兑MMK的走强约为15%(与上一季度相比),缅甸Daibochi的增长受到缅甸市场需求放缓的限制,导致企业的商品成本增加,而且活动通常较慢。

Daibochi缅甸的PBT从上一季度的185万令吉下跌72.0%至51.6万令吉,部分原因是主要原材料成本上升。 Daibochi Myanmar也承认本季度的外汇损失为596,000令吉,与上一季度的外汇损失1,400令吉相比,更为不利。除了按工资年度调整而略微增加的劳动力成本外,整体运营成本占Daibochi Myanmar收入的百分比保持相对不变。

YTD18 vs YTD17:
马来西亚工厂在收入方面取得了可观的增长,尽管主要客户的销售额减少了1020万令吉,特别是在菲律宾市场实施对含糖饮料征收消费税之后。尽管收入增长,集团PBT从去年的2,457万令吉下跌13.6%至2,122万令吉。这主要是由于外汇损失为287万令吉,而一年前的外汇收益为883000令吉。影响盈利能力的其他因素是较高的关键材料成本,销售组合以及一次性过渡成本和澳大利亚新客户的空运费用。

3Q18 vs 2Q18:
截至2018年9月30日止三个月,集团收入由上一季度的1.0637亿令吉增加2.6%至1.0919亿令吉,主要来自国内销售增加,部分被主要客户减少销售及缅甸Daibochi贡献减少所抵销。

由于MMK对美元的贬值导致消费者信心减弱,Daibochi Myanmar的收入减少27.9%到648万令吉,而去年同期为899万令吉,因为当地主要客户的销售减少。由于耐慕志正在解决马来西亚政府对进口包装材料征收的销售税问题,因此对马来西亚工厂的出口也已停止。除了本季度的外汇亏损596000令吉(相比上一季度的外汇亏损183000令吉)之外,Daibochi缅甸的PBT从上一季度的101万令吉降至51.6万令吉,同时收入减少。

前景:
虽然他们的前景仍然完好无损,但他们可能会继续面临原材料价格高企,运营成本上升以及近期外汇汇率波动的问题。他们将继续监测这些挑战并制定战略,以相应减轻其影响。
------------------------------------------------
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 RM1.09 in 1 month 5 days, total return is 36.3%

b) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM1.02 in 20 days, total return is 20%

c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.94 in 6 months 16 days, total return is 18.2%

d) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.18 (dividend RM0.0375) in 3 months 3 days, total return is 17.3%

e) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.10 in 25 days, total return is 14%

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

【看懂年报和季报】课程
时间:11a.m. – 7p.m

日期:1月27日星期日
地点:Tropical Inn, Johor Bahru (包括免费茶点)

日期:2月24日星期日
地点:Hotel Sri Petaling, KL (包括免费茶点)

日期:3月3日星期日
地点:G Inn Hotel, George Town (Penang)

有兴趣的朋友,可以电邮或PM FB page联络我
email:jamesngshare@gmail.com
电话/Whatsapp : 011 - 15852043

为了方便大家查询我写过的公司和选股文章以及视频,制作了索引。大家只要依照日期,就能从这 https://klse.i3investor.com/blogs/general/190362.jsp 找到公司和选股文章以及视频。

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请Like和Share这个post。最终决定永远是你的,谢谢。

James Ng
------------------------------------------------------------
[DAIBOCHI PLASTIC & PACKAGING INDUSTRY BHD: may continue to face high raw material prices, rising operating costs, and fluctuation in foreign currency exchange rates in the near term]

3Q18 vs 3Q17:
Revenue growth was achieved despite a decline in sales of RM3.50 million to a key customer particularly for the Philippines market, following the country’s implementation of excise tax on sugar-sweetened beverages. Group profit before tax (“PBT”) decreased 38.9% from RM10.48 million in the previous corresponding quarter to RM6.41 million mainly due to higher raw materials cost, particularly for solvent and polyester film. The Group also recognised foreign currency exchange (“forex”) loss of RM1.36 million in the current quarter, comparing unfavourably to a forex gain of RM634,000 in the previous corresponding quarter. The change was due to the strengthening of the USD versus the Malaysia Ringgit (“MYR”) and Myanmar Kyat (“MMK”), which had a material impact on the Group’s USD-denominated transactions and its USD term loan for financing its investment in Daibochi Myanmar.

Daibochi Myanmar growth was constrained by slower demand in the Myanmar market due to the strengthening USD versus the MMK of approximately 15% compared to the previous corresponding quarter, leading to higher cost of goods for businesses and generally slower activity.

Daibochi Myanmar’s PBT decreased 72.0% to RM516,000 from RM1.85 million in the previous corresponding quarter due in part to higher key raw material costs. Daibochi Myanmar also recognized higher forex loss of RM596,000 in the current quarter, comparing unfavourably to forex loss of RM1,400 in the previous corresponding quarter. Other than a slight increase in labour cost in line with yearly adjustment in wages, overall operational cost as a percentage of revenue for Daibochi Myanmar remained relatively unchanged.

YTD18 vs YTD17:
The commendable growth of the Malaysia plant in revenue was achieved despite a RM10.20 million reduction in sales to a key customer, particularly for the Philippines market following the country’s implementation of excise tax on sugar-sweetened beverages. Despite the growth in revenue, group PBT decreased 13.6% to RM21.22 million from RM24.57 million in the previous year. This was mainly due to forex loss of RM2.87 million compared to forex gain of RM883,000 a year ago. Other factors impacting profitability were higher key raw materials cost, sales mix, and one-off transitional cost and air freight for a new customer in Australia.

3Q18 vs 2Q18:
For the three months ended September 30, 2018, group revenue increased 2.6% to RM109.19 million from RM106.37 million in the preceding quarter mainly from higher domestic sales, partially offset by reduced sales to a key customer and lower contribution from Daibochi Myanmar.

Daibochi Myanmar noted 27.9% lower revenue of RM6.48 million compared to RM8.99 million in the preceding quarter on reduced sales to a major local customer due to the depreciation of the MMK against the USD which resulted in weaker consumer sentiment. Exports to the Malaysia plant was also halted as the Group was in the process of resolving the issue of sales tax imposed by the Malaysia Government on imports of packaging materials. Daibochi Myanmar’s PBT decreased to RM516,000 from RM1.01 million in the preceding quarter in tandem with lower revenue, in addition to forex loss of RM596,000 in the current quarter compared to forex loss of RM183,000 in the preceding quarter.

Prospects:
While their prospects remain intact, they may continue to face high raw material prices, rising operating costs, and fluctuation in foreign currency exchange rates in the near term. They would continue to monitor such challenges and strategize to mitigate their impact accordingly.
------------------------------------------------
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 RM1.09 in 1 month 5 days, total return is 36.3%

b) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM1.02 in 20 days, total return is 20%

c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.94 in 6 months 16 days, total return is 18.2%

d) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.18 (dividend RM0.0375) in 3 months 3 days, total return is 17.3%

e) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.10 in 25 days, total return is 14%

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/190362.jsp by date.

James的股票投资James Share Investing Blog: https://klse.i3investor.com/blogs/general/

James的股票投资James Share Investing Blog Index: https://klse.i3investor.com/blogs/general/blidx.jsp

Facebook Group: https://www.facebook.com/groups/jamesinvesting

If you want to join my WhatsApp group (there will be no James Ng's stock pick inside), please PM or email me your handphone number.

Please Like and Share this post. Final decision is always yours, thank you.

James Ng

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