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James的股票投资James Share Investing

Author: James Ng   |   Latest post: Fri, 19 Jul 2019, 9:50 AM

 

[转贴] [SERBA DINAMIK HOLDINGS BHD:正在积极寻求马来西亚和老挝电力板块的更多机会,以增加其市场份额,并巩固其作为该领域工程提供商的地位] - James的股票投资James Share Investing

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[SERBA DINAMIK HOLDINGS BHD:正在积极寻求马来西亚和老挝电力板块的更多机会,以增加其市场份额,并巩固其作为该领域工程提供商的地位]

1Q19 vs 1Q18:
截至2019年3月31日止的季度(“Q1FY19”),由于O&M的强劲活动,世霸动力录得收入9.844亿令吉,较去年同期(「Q1FY18」)高出34.7%。世霸动力的税前利润为1.245亿令吉,较去年同期的PBT(9,650万令吉)增加29.0%。

O&M在Q1FY19贡献了87.2%的收入,比Q1FY18增加了2.243亿令吉或35.3%。增加的原因是他们在马来西亚,印度尼西亚和中东地区(如卡塔尔,阿联酋和巴林)的MRO活动增加,而IRM活动显示出一些小幅下滑。该部门的营业利润增加到1.578亿令吉,毛利率为18.4%。

EPCC收入总额为1.112亿令吉,较Q1FY18增加1,690万令吉,占世霸动力总收入的11.3%。额外收入来自老挝的水力发电厂,标志着该国的第一笔贡献。

1Q19 vs 4Q18:
截至2019年3月31日止季度,世霸动力录得收入较上一季度(「Q4FY18」)略微增加0.7%,主要由于其他产品及服务收入增加以及EPCC收入及其在老挝的水力发电项目的额外活动所致。运营和维护收入的下降部分被阿联酋,印度尼西亚和马来西亚等国家的收入增长所抵消。

EPCC收入较Q4FY18增加了750万令吉或7.2%,这主要来自他们与阿联酋New Thunder Technical Services和老挝Nam Taep 123 Hydropower Company Limited的合同。营业利润也从Q4FY18的1,680万令吉增加至Q1FY19的1,720万令吉,导致毛利率为15.5%。其他产品和服务收入有所改善,营业利润增加,主要是由于他们的IT相关服务的利润率较高。

在地域方面,马来西亚仍然是各国最大的收入来源,在19财年第一季度总计录得3.069亿令吉,占总收入的31.2%,与Q1FY18相比有所改善。收入的改善主要来自于更高的call out works于O&M和EPCC活动。

中东占本季度总收入的59.1%或5.813亿令吉,较Q1FY18增加1亿零10万令吉。增加的主要原因是卡塔尔和阿联酋的call out活动增加。他们的中亚地区为世霸动力贡献了4,100万令吉或4.2%的总收入,本季度土库曼斯坦确认的收入为3,770万令吉,而印度贡献余额。印度尼西亚占本季度总收入的4.6%或4570万令吉,欧洲贡献了30万令吉的收入。通过东南亚地区的老挝为世霸动力贡献了770万令吉的第一笔收入,或本季度的0.8%,这是他们在老挝霍潘省开发30兆瓦水电站的EPCC合同。

前景:
由于国内需求的持续扩张和净出口的正增长,马来西亚国内生产总值在4Q2018实现了4.7%的增长(3Q2018:4.4%)。私营部门支出仍然是需求的主要推动力,而商品和服务实际出口的反弹有助于净出口的正增长。全球经济继续扩张,尽管在4Q2018的增长速度较为温和。除美国外,主要的先进和新兴市场经济体录得更多适度增长。

国际货币基金组织在其最近的报告中预计,近期全球经济增长将放缓,然后温和回暖。目前的预测设想,2019年上半年全球经济增长将趋于平稳,之后将保持稳定。预计2019年下半年的增长将取决于中国政策刺激措施的持续增长,近期全球金融市场情绪的改善,欧元区经济增长的暂时拖累,以及受压迫的新兴市场经济体的逐步稳定,包括阿根廷和土耳其。

在石油和天然气方面,油价小幅上涨,2019年3月布伦特原油价格交易价格为64.43美元/桶。油价受到市场对今年晚些时候石油市场平衡的信心的支撑,更好的股票市场的回酬以及对美中贸易协议可能性的乐观情绪日益增加。 2019年的前景更为乐观,上游和下游活动均有望增加。马石油的资本投资将高于2018年,预计2019年的金额约为500亿令吉。这表明国家石油公司对工业的信心,为服务提供商扩大业务创造了更多机会。

中东石油和天然气行业也将重心从上游转向下游,因为该地区寻求通过增加专业化石油化工产品的出口来实现多元化。预计一些着名的厂将投入使用例如沙特阿拉伯的Jazan炼油厂和阿联酋杰贝阿里炼油厂的扩建预计将于2019年完工。这将为集团在该地区进一步扩展业务创造更多机会。

就电力行业而言,马来西亚的发电量和消费量一直呈上升趋势,预计2019年将继续增长。老挝多年来电力行业也出现了显着增长,并将持续增长,因为它将在2020年前成为“东南亚电池“。公司正在积极寻求两国电力板块的更多机会,以增加其市场份额,并巩固其作为该领域工程提供商的地位。

2019年,公司预计将加强其在中东和东南亚的地位(贡献了公司过去几年的盈利)。随着预计公司计划通过进一步扩大中亚三个国家的市场份额,即公司目前经营的土库曼斯坦,哈萨克斯坦和乌兹别克斯坦,将会获得更多增长。他们的氯碱项目也将在非洲,尤其是坦桑尼亚取得更多进展。他们的地域扩张将有助于缓和和抵消任何不可预见的地缘政治风险,以保持公司的业务目标,并在未来继续推动盈利。整体而言,管理层对世霸动力的前景及未来将继续产生积极成果的观点持乐观态度。
-----------------------------
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 RM1.33 (dividend RM0.015) in 10 months 9 days, total return is 88.1%

b) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.42 in 6 months 5 days, total return is 77.5%

c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.30 (dividend RM0.04) in 11 months 20 days, total return is 68.6%

d) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.60 (dividend RM0.0825) in 8 months 7 days, total return is 41.9%

e) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.29 (dividend RM0.008) in 5 months 29 days, total return is 34.5%

f) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.75 in 5 months 1 day, total return is 30.4%

g) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.50 (dividend RM0.035) in 7 months 3 day, total return is 20.9%

h) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.63 (dividends RM0.03) in 8 months 22 days, total return is 16.1%

i) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.965 in 5 months 22 days, total return is 13.5%

j) HSSEB (HSS ENGINEERS BHD), recommended on 20 Jan 19, initial price was RM1.04, rose to RM1.17 in 5 months 1 day, total return is 12.5%

k) SWKPLNT (SARAWAK PLANTATION BHD), recommended on 24 Mar 19, initial price was RM1.55, rose to RM1.74 in 2 months 28 days, total return is 12.3%

l) HUAYANG (HUA YANG BHD), recommended on 17 Feb 19, initial price was RM0.40, rose to RM0.425 in 4 months 4 days, total return is 6.3%

m) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM4.08 (dividends RM0.084) in 10 months 23 days, total return is 5.2%

n) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM1.73 in 21 days, total return is 4.2%

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

1)【股票-实际操作班】课程:
10a.m. – 9p.m.,免费午餐和晚餐

7月14日星期日:AG Hotel Penang, George Town

7月28日星期日:Silka Johor Bahru Hotel, Johor Bahru

9月7日星期六:Hotel Sri Petaling, KL

2)【看懂年报和季报】课程:
11a.m. – 7p.m.,免费茶和咖啡

7月27日星期六:Silka Johor Bahru Hotel, Johor Bahru 5份点心

8月11日星期日:AG Hotel Penang, George Town 4份点心

9月8日星期日:Hotel Sri Petaling, KL 3份点心

3) 【公司业绩分享会】:
2p.m. – 7p.m.,免费茶和咖啡

7月13日星期六:AG Hotel Penang, George Town 4份点心

7月21日星期日:Hotel Sri Petaling, KL 3份点心

7月26日星期五:Silka Johor Bahru Hotel, Johor Bahru 5份点心

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://web.facebook.com/jamesshareinvest/posts/2302632626670145 找到公司和选股文章以及视频。

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

这个是我的TELEGRAM Group链接,大家可以在这个Group获知何时做Fb live: https://t.me/joinchat/LhwHNhdU1fDgxrSafTrTiw

请大家来Follow James的Instagram,获取最新的资讯: https://www.instagram.com/p/BzCRuuRnsHV

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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[SERBA DINAMIK HOLDINGS BHD: The Company are actively pursuing for more opportunity in the power sector from Malaysia and Laos to boost its market share and strengthening its position as an engineering provider in the sector]

1Q19 vs 1Q18:
For the quarter ended 31 March 2019 (“Q1FY19”), the Group recorded revenue of RM984.4 million which was 34.7% higher than corresponding quarter of the preceding year (“Q1FY18”) due to strong activities from O&M. The Group also recorded profit before taxation of RM124.5 million, 29.0% higher as compared to profit before taxation of RM96.5 million in Q1FY18.

O&M contribute 87.2% of revenue in Q1FY19 with an increase of RM224.3 million or 35.3% against Q1FY18. The increase was due to higher activities from their MRO activity in Malaysia, Indonesia and middle east region such as Qatar, UAE & Bahrain while IRM activity showed some slight decline against Q1FY18. The segment recorded an improved operating profit of RM157.8 million which represents a gross margin of 18.4%.

EPCC revenue recorded a total of RM111.2 million, increased by RM16.9 million against Q1FY18 and contributed 11.3% of the total revenue of the Group. Additional revenue was derive from their hydro-power plants in Laos which mark the first contribution from the country.

1Q19 vs 4Q18:
For quarter ended 31 March 2019, the Group recorded a slight increase of revenue of 0.7% from immediate preceding quarter (“Q4FY18”) mainly due to increase revenue from other product and services and also EPCC revenue with additional activity from their hydro-power plants project in Laos. The decline in O&M revenue was partially offsetted by an increase in revenue from countries such as UAE, Indonesia and Malaysia.

EPCC revenue recorded an increase of RM7.5 million or 7.2% higher against Q4FY18 which is mainly derived from their contract with New Thunder Technical Services in UAE and Nam Taep 123 Hydropower Company Limited in Laos. Operating profit also recorded an increase from RM16.8 million in Q4FY18 to RM17.2 million in Q1FY19 resulting in 15.5% of gross profit margin. Other product and services recorded an improved in revenue and higher in operating profit mainly due to better margin from their IT related services.

On geographical segmentation, Malaysia remained as the biggest revenue contributor by country, recording a total of RM306.9 million for Q1FY19 or 31.2% of total revenue recording an improvement against Q1FY18. The improvement in revenue is mainly contributed by higher call out works for O&M and EPCC activity.

Middle east contributed 59.1% of the overall revenue for the quarter or RM581.3 million, an increase of RM100.1 million against Q1FY18. The increase was mainly contributed by higher call out activity in Qatar and UAE. Their central asia region contributed RM41.0 million or 4.2% of total revenue for the Group, with the revenue recognised from Turkmenistan amounting to RM37.7 million during the quarter while India contributed the balance. Indonesia contributed 4.6% of total revenue for the quarter or RM45.7 million and europe contributed RM0.3 million of revenue. South east asia region through Laos contributed first revenue of RM7.7 million to the Group or 0.8% of current quarter which derived from their EPCC contract for the development of 30MW hydropower plants in Huoaphan Province, Laos.

Prospects:
Malaysia GDP recorded a higher growth of 4.7% for 4Q2018 (3Q2018: 4.4%) supported by continued expansion in domestic demand and a positive growth in net exports. Private sector expenditure remained the main driver of demand, while a rebound in real exports of goods and services contributed towards the positive growth of net exports. The global economy expansion continued, albeit at a more moderate pace in the 4Q2018. With the exception of the US, major advanced and emerging market economies recorded more
moderate growth.

IMF in their recent report projected global growth is set to moderate in the near term, then pick up modestly. The current forecast envisages that global growth will level off in the first half of 2019 and firm up after that. The projected pickup in the second half of 2019 is predicated on an ongoing build-up of policy stimulus in China, recent improvements in global financial market sentiment, the waning of some temporary drags on growth in the euro area, and a gradual stabilization of conditions in stressed emerging market economies, including Argentina and Turkey.

On the Oil and Gas front, oil prices have slight increased month on month with the Brent Crude price being traded at USD64.43/bbl in March 2019. Oil prices were supported by increasing confidence that the oil market will balance later this year, the better performance of equity markets and growing optimism regarding the possibility of a US-China deal on trade matters. 2019 has a more positive outlook with expected increase in both upstream and downstream activities. PETRONAS’ capital investment is set to be higher than 2018 with anticipated amount of approximately RM50 billion for 2019. This show the confidence of the national oil company towards to industry and create more opportunity for service provider to expand their business.

Middle east oil & gas industry has also shifted its focus from the upstream towards the downstream segments, as the region seeks to diversify by increasing exports of specialised refined petrochemicals products. Some notable plants are expected to come on stream such as the Jazan refinery in Saudi Arabia and expansion of Jebel Ali refinery in UAE which is expected to complete in 2019. This will create more opportunity for the Group to expand its business further in the region.

In term of power industry, electricity generation and consumption has been on increasing trend in Malaysia and expected to continue growing in 2019. Laos also has seen significant growth in their power industry over the years and this will continue as it is set to become the “Battery of South East Asia” by 2020. The Company are actively pursuing for more opportunity in the power sector from both countries to boost its market share and strengthening its position as an engineering provider in the sector.

For 2019, the Company is expecting to strengthen its position in middle east and south east asia which have contributed to the company’s earnings for the past years. More growth is expected to come from central asia as the Company plan expand further by gaining more market share in the three countries i.e. Turkmenistan, Kazakhstan and Uzbekistan which the Company are currently operating in. They will also see more progress in Africa especially in Tanzania with their Chlor-alkali project. Their geographical expansion will help to cushion and offset any unforeseen geopolitical risks for the Company to maintain its business goals and continue driving profitability in future. Overall, the management is optimistic about the prospects of the Group and of the view that the Group will continue to generate positive results in future.
--------------------------------------------------------------------------
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 RM1.33 (dividend RM0.015) in 10 months 9 days, total return is 88.1%

b) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.42 in 6 months 5 days, total return is 77.5%

c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.30 (dividend RM0.04) in 11 months 20 days, total return is 68.6%

d) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.60 (dividend RM0.0825) in 8 months 7 days, total return is 41.9%

e) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.29 (dividend RM0.008) in 5 months 29 days, total return is 34.5%

f) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.75 in 5 months 1 day, total return is 30.4%

g) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.50 (dividend RM0.035) in 7 months 3 day, total return is 20.9%

h) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.63 (dividends RM0.03) in 8 months 22 days, total return is 16.1%

i) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.965 in 5 months 22 days, total return is 13.5%

j) HSSEB (HSS ENGINEERS BHD), recommended on 20 Jan 19, initial price was RM1.04, rose to RM1.17 in 5 months 1 day, total return is 12.5%

k) SWKPLNT (SARAWAK PLANTATION BHD), recommended on 24 Mar 19, initial price was RM1.55, rose to RM1.74 in 2 months 28 days, total return is 12.3%

l) HUAYANG (HUA YANG BHD), recommended on 17 Feb 19, initial price was RM0.40, rose to RM0.425 in 4 months 4 days, total return is 6.3%

m) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM4.08 (dividends RM0.084) in 10 months 23 days, total return is 5.2%

n) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM1.73 in 21 days, total return is 4.2%

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/2302632626670145 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

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

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