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James的股票投资James Share Investing

Author: James Ng   |   Latest post: Sun, 8 Dec 2019, 9:21 PM

 

[转贴] [SERBA DINAMIK HOLDINGS BHD:与Hazarasp Chlor-Alkali LLC FC签订了另一项工程,采购,建设和调试(“EPCC”)合同] - James的股票投资James Share Investing

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[SERBA DINAMIK HOLDINGS BHD:与Hazarasp Chlor-Alkali LLC FC签订了另一项工程,采购,建设和调试(“EPCC”)合同,在Republic of Uzbekistan的Khorezm地区的Hazarasp自由经济区建设每天生产90吨氯气加工厂,和26兆瓦汽轮机独立发电厂,合同价值约为2.503亿美元]

2Q19 vs 2Q18:
截至2019年6月30日止的季度(Q2FY19),由于O&M的强劲活动,世霸动力录得收入11.386亿令吉,较去年同期(Q2FY18)增加41.6%。世霸动力的税前利润为1.438亿令吉,较Q2FY18的税前利润为1.092亿令吉增加31.8%。

O&M在Q2FY19贡献了83.6%的收入,比Q2FY18增加了2.29亿令吉或31.7%。这一增长是由于他们在马来西亚,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活动显示出略微下降(相比Q2FY18)。该部门录得营业利润改善到1.687亿令吉,毛利率为17.7%。 EPCC收入总额为1.472亿令吉,较Q2FY18增加6,760万令吉,占世霸动力总收入的12.9%。 EPCC部门的收入增加主要来自坦桑尼亚的氯碱工厂。

2Q19 vs 1Q19:
截至2019年6月30日止的季度,世霸动力相比上一季度(Q1FY19),收入增长15.7%,主要是由于其他产品和服务收入增加以及EPCC收入增加(坦桑尼亚的氯碱工厂项目贡献较高)。整体营业利润为1.976亿令吉,相差1,920万令吉,较Q1FY19增加10.8%。

由于一些国家的活动显着增加,即卡塔尔,沙特阿拉伯,巴林和马来西亚,运营与维护收入增加了9,290万令吉或比Q1FY19增加10.8%。营业利润与收入一致增加,但毛利率下降0.7%。EPCC收入比19财年第一季度增加了3,600万令吉或32.3%,这主要来自他们与坦桑尼亚的Msufini(T)Limited和马来西亚的One Power River Sdn. Bhd.的合约。营业利润也从19财年第一季度的1,720万令吉增加至第二季度的2200万令吉,导致毛利率为15.0%。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。

YTD19 vs YTD18:
该集团的年初至今收入总计为21.23亿令吉,营业利润为3.759亿令吉,占总收入的17.7%。这与去年同期相比有所改善,收入和营业利润分别增加38.3%和39.2%。

O&M的收入增长率为33.4%,主要来自中东地区,马来西亚和印度尼西亚。运营和维护运营利润同比增长35.6%。 EPCC和其他产品和服务的收入分别增加了8,450万令吉和5,020万令吉,分别增长48.6%和1,266.5%。两个业务部门的营业利润同比增长1,130万令吉及890万令吉或40.5%及726.2%。该集团的税前累计利润提高至2.683亿令吉,比去年同期高出6,260万令吉。

在地理方面,马来西亚仍然是各国最大的收入来源,Q2FY19总收入为3.385亿令吉,占总收入的29.7%,与Q2FY18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6亿7260万令吉,较Q2FY18增加1.749亿令吉。这一增长主要是由于卡塔尔,巴林和阿联酋的call out活动增加。

前景:
在资本支出疲软的情况下,国内需求仍是马来西亚国内生产总值增长推动的主要因素。全球经济在1Q2019继续扩张。除美国和英国外,许多发达和区域经济体在本季度均录得持续或放缓的扩张速度。

公司认为特别是中下游行业需要进行维护工作。因此,公司一直如此积极参与各种竞标,以在维护领域占领更多市场。该公司现在积极参与的另一个领域是氯和苛性钠行业。预计全球烧碱市场将从2017年的7462万吨增长至2022年的8919万吨,复合年增长率为3.63%。

虽然全球氯市场预计也将从2016年的286.629亿美元增长到2021年的360.552亿美元,复合年增长率为4.70%,原因是其在医药和水处理等行业的使用越来越多。纸张和纸浆,化学品和塑料等其他行业的需求量也有显着增长。此外,预计建筑,汽车和复合材料制造应用中PVC需求的增长将推动对氯的需求。

为此,世霸动力与Hazarasp Chlor-Alkali LLC FC签订了另一项工程,采购,建设和调试(“EPCC”)合同,在Republic of Uzbekistan的Khorezm地区的Hazarasp自由经济区建设每天生产90吨氯气加工厂,和26兆瓦汽轮机独立发电厂,合同价值约为2.503亿美元(相当于约10.5亿令吉,基于1.00美元:RM4.1845)。世霸动力预期将继续加强中亚地区的地位,并加强其在EPCC工程的能力。

鉴于今年上半年各种新合约获胜及续订现有合约,世霸动力仍预期运营及维护业务部门将继续作为世霸动力的主要收入来源。 EPCC将继续为世霸动力做出巨大贡献,因有额外的合同在手。总体而言,管理层对其未来业绩及世霸动力的前景持乐观态度。
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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 RM1.65 (dividend RM0.015) in 1 year 11 days, total return is 132.9%

b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.51 (dividend RM0.04) in 1 year 1 month 20 day, total return is 95%

c) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.28 in 8 months 7 days, total return is 60%

d) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.70 (dividend RM0.07) in 9 months 5 days, total return is 39.4%

e) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.80 in 7 months 3 days, total return is 39.1%

f) PESTECH (PESTECH INTERNATIONAL BHD), recommended on 2 Jun 19, initial price was RM1.04, rose to RM1.39 in 2 months 19 days, total return is 33.7%

g) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.32 (dividend RM0.1875) in 10 months 9 days, total return is 32.7%

h) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.26 (dividend RM0.008) in 7 months 29 days, total return is 31.4%

i) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM1.96 (dividends RM0.063) in 10 months 16 days, total return is 27.2%

j) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.56 (dividends RM0.04) in 10 months 21 days, total return is 11.9%

k) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM1.85 (dividend RM0.01) in 2 months 21 days, total return is 11.4%

l) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM4.29 (dividends RM0.084) in 1 Year 24 days, total return is 10.5%

m) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.88 in 7 months 21 days, total return is 3.5%

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

9月8日星期日:Hotel Sri Petaling, KL 3份点心

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10a.m. – 9p.m.,免费午餐和晚餐

9月7日星期六:Hotel Sri Petaling, KL

10月20日星期日:Silka Johor Bahru Hotel, Johor Bahru

12月21日星期六:AG Hotel Penang, George Town

3) 【公司业绩分享会】:
2p.m. – 7p.m.,免费茶和咖啡

9月6日星期五:Hotel Sri Petaling, KL 3份点心

10月18日星期五:Silka Johor Bahru Hotel, Johor Bahru 5份点心

12月20日星期五:AG Hotel Penang, George Town 2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

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:jamesnginvest

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 Group has entered into another engineering, procurement, construction and commissioning (“EPCC”) contract with Hazarasp Chlor-Alkali LLC FC for 90 ton per day chlorine processing plant at Hazarasp Free Economic, Khorezm Region in Republic of Uzbekistan & 26 MW steam turbine independent power plant with a contract value of approximately USD250.3 million (equivalent to approximately RM1.05 billion based on USD1.00:RM4.1845)]

2Q19 vs 2Q18:
For the quarter ended 30 June 2019 (“Q2FY19”), the Group recorded revenue of RM1,138.6 million which was 41.6% higher than corresponding quarter of the preceding year (“Q2FY18”) due to strong activities from O&M. The Group also recorded profit before taxation of RM143.8 million, 31.8% higher as compared to profit before taxation of RM109.2 million in Q2FY18.

O&M contributed 83.6% of revenue in Q2FY19 with an increase of RM229.0 million or 31.7% against Q2FY18. 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 Q2FY18. The segment recorded an improved operating profit of RM168.7 million which represents a gross margin of 17.7%. EPCC revenue recorded a total of RM147.2 million, increased by RM67.6 million against Q2FY18 and contributed 12.9% of the total revenue of the Group. Increased revenue from EPCC segment was mainly derived from our chlor-alkali plant in Tanzania.

2Q19 vs 1Q19:
For quarter ended 30 June 2019, the Group recorded an increase of revenue of 15.7% from immediate preceding quarter (“Q1FY19”) mainly due to increase revenue from other product and services and also EPCC revenue with higher contribution from our chlor-alkali plant project in Tanzania. Overall Operating profit stood at RM197.6 million, a difference of RM19.2 million or 10.8% higher against Q1FY19.

O&M revenue increased by RM92.9 million or 10.8% higher than Q1FY19 as some countries showed a significant increase in activity, namely Qatar, Saudi Arabia, Bahrain & Malaysia. Operating profit increased in line with revenue however GP margin reduced by 0.7%. EPCC revenue recorded an increase of RM36.0 million or 32.3% higher against Q1FY19 which is mainly derived from their contract with Msufini (T) Limited in Tanzania and One Power River Sdn. Bhd. in Malaysia. Operating profit also recorded an increase from RM17.2 million in Q1FY19 to RM22.0 million in Q2FY19 resulting in 15.0% 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.

YTD19 vs YTD18:
The group’s year to date (“YTD”) revenue recorded a total of RM2,123.0 million with operating profit at RM375.9 million or 17.7% of total revenue. This is an improvement against the same period last year with 38.3% and 39.2% for revenue and operating profit respectively.

O&M have shown an increase in revenue of 33.4% mainly from middle east region, Malaysia as well as Indonesia. O&M operating profit also showed an increase of 35.6% against the corresponding period of the preceding year. EPCC and other product & services also showed an increase in revenue of RM84.5 million and RM50.2 million or 48.6% and 1,266.5% respectively. The operating profit for both business segments also improved by RM11.3 million and RM8.9 million or 40.5% and 726.2% increase against the corresponding period of the preceding year. The group’s cumulative profit before tax improved to RM268.3 million, RM62.6 million higher than the corresponding period of the preceding year.

On geographical segmentation, Malaysia remained as the biggest revenue contributor by country, recording a total of RM338.5 million for Q2FY19 or 29.7% of total revenue recording an improvement against Q2FY18. 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 RM672.6 million, an increase of RM174.9 million against Q2FY18. The increase was mainly contributed by higher call out activity in Qatar, Bahrain & UAE.

Prospects:
Domestic demand remained the key driver of Malaysia GDP growth driven by firm household spending amid weaker capital expenditure. The global economy expansion continued in the 1Q2019. With the exception of the US and the UK, many advanced and regional economies recorded a sustained or slower pace of expansion during the quarter.

The Company believes that maintenance works are required especially on the mid and downstream sector. Thus, the Company has been actively engaging and participate in various bidding to capture more market in the maintenance space. Another sector that the company are now actively involve is the chlorine & caustic soda industry. The global caustic soda market is expected to grow from 74.62 million metrics tons in 2017 to 89.19 million metrics tons by 2022 at CAGR of 3.63%.

While global chlorine market is also expected to grow from USD28,662.9 million in 2016 to USD36,055.2 million by 2021 at CAGR of 4.70% due to its increasing use in industries such as pharmaceuticals and water treatment. There is a significant growth in the demand for its use in several other industries such as paper and pulp, chemical, and plastic. In addition, the rising demand for PVC in the construction, automotive, and composite manufacturing applications is anticipated to propel the demand for chlorine.

In line with this, the Group has entered into another engineering, procurement, construction and commissioning (“EPCC”) contract with Hazarasp Chlor-Alkali LLC FC for 90 ton per day chlorine processing plant at Hazarasp Free Economic, Khorezm Region in Republic of Uzbekistan & 26 MW steam turbine independent power plant with a contract value of approximately USD250.3 million (equivalent to approximately RM1.05 billion based on USD1.00:RM4.1845). The Group expect to continue to strengthen position in central asia region as well as strengthening its capability in EPCC works.

The Group still foresee O&M business segment will remain as major revenue contributor for the Group in light with various new contracts win and renewal of existing contracts in the first half of this year. EPCC will continue to contribute considerably to the Group with the additional contract in hand. Overall, the management is positive about their future results and prospects of the Group.
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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

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