KLSE: AZRB (7078)       AHMAD ZAKI RESOURCES BHD MAIN : Construction
Last Price Today's Change   Day's Range   Trading Volume
0.22   +0.015 (7.32%)  0.21 - 0.22  2,684,400
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Market Cap: 132 Million
NOSH: 598 Million
Avg Volume (4 weeks):2,369,460
4 Weeks Range:0.115 - 0.23
4 Weeks Price Volatility (%):
52 Weeks Range:0.115 - 0.575
52 Weeks Price Volatility (%):
Average Price Target: 1.66
Price Target Upside/Downside: +1.44
Stamp duty exempted for year 2020

Financial Highlight

Latest Quarter | Ann. Date 31-Dec-2019  |  28-Feb-2020
Next QR | Est. Ann. Date: 31-Mar-2020  |  31-May-2020
T4Q P/E | EY: -4.29  |  -23.31%
T4Q DY | Payout %: 0.00%  |  - %
T4Q NAPS | P/NAPS: 0.7139  |  0.31
T4Q NP Margin | ROE: -3.20%  |  -7.18%


Date Subject
09-Apr-2020 Traders Brief - KLCI Getting Oversold Near Resistance Zone (1,370-1,400)
18-Dec-2019 Construction - Reviving HSR
05-Sep-2019 PublicInvest Research Headlines - 5 Sept 2019
05-Sep-2019 Mplus Market Pulse - 5 Sept 2019
15-Jul-2019 Technical Buy - AZRB (7078)
11-Jun-2019 Stocks on Radar - Ahmad Zaki Resources (7078)
15-Apr-2019 Technical View - Ahmad Zaki Resources Bhd (AZRB, 7078)

Business Background

Ahmad Zaki Resources Bhd is principally engaged in investment holding, providing management services and operating as a contractor of civil and structural works. Its business segments consist of Construction, Oil and gas, Plantation and Property. The Construction segment is involved in the development of civil and structural works. Its Oil and gas segment deals in marine fuels, lubricants, and petroleum-based products. The company’s Plantation segment manufactures oil palm. Its Property segment comprises of property development, hotel operation, and facilities management. The company’s geographical area of operations includes countries like Malaysia, Republic of Indonesia, India, and Kingdom of Saudi Arabia.
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  12 people like this.
JK22 Stimulus package is for those industries affected by Covid19 , who have to lay of employments , work hours and etc. Eg, tourism related, entertainment , event management , Why do construction need covid 19 stimulus package ??
21/02/2020 5:06 PM
lksiam @JK22,
You must first understand how is GDP calculated.
What you mentioned is a surface thing that most people see. What economists, bankers and leaders (politicians) see are different.
24/02/2020 9:17 AM
JK22 Now Cabinet Dissolved ? Stimulus package still on ? Or we left to heal ourselves from Covid19
25/02/2020 10:19 AM
bbc99 Whoever in power, azrb will not b affected, u know what i mean.
26/02/2020 3:59 PM
JK22 Dropping bad. What happened to ECRL ? After August 2019.. quiet till now
28/02/2020 11:19 AM
Json1536 Jump ship
28/02/2020 3:05 PM
freddiehero wah.. big discount
28/02/2020 3:30 PM
lksiam Interesting...
28/02/2020 4:18 PM
JK22 what ...heck.. mega sales.. Cannot resist.....
28/02/2020 4:19 PM
NGWAIKUAN Qr result too bad, monday drop again
28/02/2020 9:30 PM
AZRB and its subsidiaries (“the Group”) posted RM283.1 million of revenue for the quarter,
a 6.1% increase from RM266.7 million recorded in the previous corresponding quarter.
This was due to better revenue performance coming from nearly all divisions of the Group;
particularly the Engineering & Construction, Concession and Oil & Gas Divisions.
The Group suffered a quarterly pre-tax loss of RM39.7 million for the quarter ended 31
December 2019 (4Q19), down from a RM6.3 million pre-tax profit recorded in the previous
corresponding quarter of 2018.
The Group’s performance was mainly affected by the recognition of one-off additional
costs on various completed projects in the Engineering & Construction Division and costs
of recovery incurred in relation to the Arbitration Award of the Al-Faisal University (“AFU”)
project, totalling RM50.7 million.
On a positive note, all other Divisions in the Group showed marked performance
improvements over the previous corresponding quarter of last year.
Engineering & Construction
For the current quarter under review, the Division posted a revenue of RM243.4 million, a
5.9% increase from RM229.8 million which was posted for the same corresponding quarter
of 2018. The revenue increase was due to a favourable average project churn rate for the
quarter, as the Division continues to go through its order-book.
Despite higher revenues, there were additional costs as a result of one-off provisional
charges and contract costs written off solely on the Division’s completed projects which
are now in their account finalisation stages. The Division had decided to take the prudent
approach to ascertain and account for these costs as and when they are determined, to
ensure that the Division will be on a solid base in which to improve on results going
Arising from the above, pre-tax loss recorded for the quarter was RM30.7 million,
compared against a RM6.7 million pre-tax profit for the quarter of 4Q18.
28/02/2020 10:22 PM
JK22 Like that call bad ? Improve revenue also bad?
28/02/2020 10:24 PM
freddiehero good qr?
28/02/2020 10:34 PM
lksiam Retail investors have to learn to do own homeworks and make own judgement. Not just green or red.
02/03/2020 8:20 AM
taepodong5 well...at 20 sens....should be a reasonable buy for long term....
13/03/2020 11:01 AM
Karlos Directors been buying earlier well above 20 sen
13/03/2020 3:00 PM
bbc99 I bought n bought n will buy n buy
14/03/2020 5:11 PM
apolloang another pastor counter....hahaha
14/03/2020 10:28 PM
taepodong5 keep buying.....break the 20 sens...now heading toward 5 sesn at terminal velocity....calvin calvin...buy now bro.....
16/03/2020 4:11 PM
aam1932 Woww,
16/03/2020 11:57 PM
robert88888 Stupid counter..
18/03/2020 2:06 PM
marlboroman2 Their Treasury department should have put in place a share buy back mechanism with prior approval from Bursa. If that was done, it can now start to buy back its shares and keep in its treasury.

Once the market recovers, sell back at double triple whatever the price in the future. Their Holding company segment will have superlative one-off profits which can offset their Engineering, Plantation, Property, Concession's hard times in these day and age.

Today at 12.5 sens with 594 mil shares issued that equates to a market cap of RM 74 mil while it has a backlog book order of RM 2-3 billions?
18/03/2020 6:00 PM
marlboroman2 Correction, not sell back on open market but issue as bonus issue or issue to employees as share option incentive. Either way it's rewarding to the company and the shareholders at the cheap acquisition price of today
18/03/2020 8:34 PM
kong73 Company directors greed knows no bounds.. keep on buying shares to accumulate in the hope it will shore up the stock price. Next week will be volatile as Covid 19 will start to treble to 2-3k infected
20/03/2020 9:40 PM
kong73 When that happens AZRB will be on sale again
20/03/2020 9:42 PM
Investsucess Trader Tomorrow will has cheap sale again, maybe wait for a few day can get cheaper.
22/03/2020 7:57 PM
marlboroman2 Every 0.5 sens up = 4% profit. Compare it to fixed deposit 12 months interest rate.

US Fed announced unlimited stimulus, helicopter cash ready to drop dollars on every family home in the States, rebound is imminent.

If you miss the first rebound which will be sharpest, you'll be stressed. So better stress to buy now then stress to buy if you miss the rebound.

Buy little bit and keep, no need to greedy. Anyway can see relatively good reasonable support at 12 sens. Daily trade volume practically dried up. Today done Rm 53k only. Price of a Myvi.

Govt said will outlay provisions for infrastructure spending but mainly for small contractors. Cannot spend mega sums in light of oil prices. Azrb recently won award for best construction company in micro segment, so at today's prices sure qualified as small contractor with award to backup.

Won't die one this counter.
23/03/2020 10:02 PM
kong73 see already 1500 cases infected..2-3k coming
24/03/2020 2:14 PM
marlboroman2 Buy on rumours, sell on news (TMY's 250b stimulus package). However, this is a huge package and i also get something, thumbs up for it.
27/03/2020 3:52 PM
Imthemalaysian Marlboroman2 so what’s your thing now?
30/03/2020 10:38 AM
marlboroman2 This counter and Mrcb
30/03/2020 4:18 PM
Imthemalaysian Both kena quarantined.. need to wait months to recover
30/03/2020 4:37 PM
marlboroman2 Note also on Azrb, EKVE highway project worth Rm 1.5 billion is scheduled for completion in July 2020 (was given extension to complete back in 2019 for 315 days).

Hence, revenue stream will kick in once the toll is operational (Ekve Sdn Bhd holds 100% of the concession which in turn is a wholly owned subsidiary of Azrb).

The toll revenue is surely collateralised against their existing loans which follows the same modus as with their latest sukuk money received on-lent against cash revenue from their FM service under their medical hospital concession project.

PS: Very normal thing for construction companies to be highly geared, if you are not highly geared, you are not a best practising construction company or worst still banks view you as risky business model to them.
30/03/2020 4:39 PM
marlboroman2 Disclaimer clause: The above is written as a in my opinion only and leisure reading, not as a professional advice, you need to verify such information before investing further
30/03/2020 6:21 PM
mf (Crude Oil) Crude oil fell sharply on Monday, with US crude briefly dropping below US$20 and Brent hitting its lowest level in 18 years, on heightened fears that the global coronavirus shutdown could last months and demand for fuel could evaporate further. - Reuters
30/03/2020 6:24 PM
Ncm88 this long forgotten company invloves in OnG, even improve revenue by 7m this quarter
02/04/2020 11:36 PM
Post2U morning all, just buy this ctr for collection.
03/04/2020 9:17 AM
taepodong5 too early....the melt down yet to come....
03/04/2020 9:34 AM
taepodong5 expect USA going to go into recession...in 1-2 months...Dow...is expect to free fall after free money stimulus spent in a few months....The world market will crumble...Malaysia GDP will be -5%...AZRB will be at 5 sens.....just watch...for 1-3 months...else i will migrate to USA....
03/04/2020 3:19 PM
bnmacai lol. then u buy ticket and watch show. dow will not collapse. it never will
03/04/2020 3:34 PM
chongkahagent Bursa will crumble soon.following stocks still highly priced because govt link institilution support to portray a false image of malaysia economy:their price should be 10% of what it stood now.

Public bank
Top grove
Nestle ( nta only rm3 but trading at rm 130 ???)
Etc etc
04/04/2020 2:18 PM
marlboroman2 Nestle at Rm 130 while nta at rm 3 is because they declare a high 90%++ of their eps as dividends almost every quarter. Like Dutch Lady, BAT, Etc etc

These are companies with rising revenues and profits, low debt and high ROEs.

Hope the above addresses your ???
05/04/2020 4:53 AM
Post2U Green..green
06/04/2020 11:58 AM
Post2U somebody is cooking..
07/04/2020 3:01 PM
marlboroman2 Azrb at this level is very much a beaten down stock. It is still good entry points now on a 6-12-month horizon.
07/04/2020 9:05 PM
Post2U This ctr 4in1, constr, o&g, plant n prop. Load some for future
08/04/2020 2:58 PM
marlboroman2 And also EKVE project should be rolled out sometime this year (hopefully not too long delayed because of covid).

To recap, the initial development cost is Rm 1.5 bil financed by sukuk in Ekve Sdn Bhd; a wholly owned subsidiary of Azrb.

Stage 1 (Pre-Completion)
Debit Work In Progress
Credit Sukuk Loans

Stage 2 (Post-Completion)
Debit Assets Held For Investment
Credit Work In Progress
Debit Bank
Credit Sales
Debit Sukuk Loans
Credit Bank

(If Sales > Cost of Sales for Toll operation = Gross Profits recognized when doing Consolidated Accounts of Azrb and Ekve Sdn Bhd). Bottom line depends on overall of everything else.

Bank balance won't increase for a while because the collections are used to pay off sukuk but gearing ratio improves.

Note also Ekve project is merely stage 1, stage 2 not tendered out yet. Open to all in future but Ekve Sdn Bhd could be favored due to existing expertise.

Disclaimer clause: The above is merely my own basic layman opinion and not professional advice.
08/04/2020 4:49 PM
marlboroman2 https://www.klsescreener.com/v2/news/view/657655/healthcare-and-infrastructure-to-benefit
08/04/2020 5:37 PM
marlboroman2 https://www.thestar.com.my/business/business-news/2020/04/04/waiting-game-for-construction-sector
10/04/2020 12:59 AM
marlboroman2 ....."Back to the ECRL, MIDF believes the awards for subcontract jobs to Malaysian contractors will begin in the 2QFY20" (an excerpt from the above link)
10/04/2020 1:04 AM

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