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[转贴] [GAMUDA BHD,预计今年会有更好的表现] - James的股票投资James Share Investing

James Ng
Publish date: Mon, 14 May 2018, 02:13 PM

[GAMUDA BHD,预计今年会有更好的表现]

金务大宣布,该联盟公司于2018年5月2日接受了MyHSR Corporation Sdn Bhd(公司编号1147719-M)(“MyHSR Corp”)任命该联盟公司为北部HSR项目的项目交付伙伴(http://www.bursamalaysia.com/…/company-announcements/5782025)。

前景:
由于地铁二号线的进展步伐加快,海外项目尤其是越南和马来西亚的新乡镇带动了房地产销售增加,以及高速公路部门的稳定收益贡献,金务大预计今年会有更好的表现。

(a)金务大工程部门
(i) Klang Valley Mass Rapid Transit: Sungai Buloh – Serdang – Putrajaya Line (“MRT Line 2”)
Project Delivery Partner (“PDP”) Line 2 :
二零一八年二月底的整体累计进度已达17.7%。一揽子工程的采购额已达310亿令吉,相当于整体工程价值的98%。

PDP已经采取了以下措施来提高工作场所的安全性:
- 监督顾问加强对所有启动龙门作业的监控,以确保在关键和高风险阶段实施更严格的控制。
- 工作包装承包商为所有启动龙门的工作人员实施一项综合培训计划。该培训计划将由龙门起重机制造商批准。
- 对培训和实施龙门作业进行加强审核。
- 全面审查所有其他高风险活动,以加强SSP项目正在实施的所有其他工作的安全控制。

Underground Works Package (“UGW Line 2”):
为了实现Original Line Opening Date,MMC Gamuda提出了加速该计划的建议,并付出了代价,并被MRT公司接受。根据加速计划,2018年2月底的整体累计进展为26.0%,提前1.5%。 Bandar Malaysia North Station的第一台隧道掘进机已按计划于2018年3月1日全面组装并正式启动。

(ii) Pan Borneo Highway, Sarawak – WPC04 (Pantu Junction to Btg Skrang)
Naim Engineering Sdn Bhd - Gamuda Berhad合资企业接受了Pan Borneo Sarawak项目的WPC04(Pantu Junction to Btg Skrang)的项目。范围包括将现有89.30公里长的双车道单车道公路扩大和升级为JKR R5标准的4车道双车道。截至2018年2月底的整体累计进度为21.6%,并且由于季风期而略微落后于计划。随着雨季结束,预计未来几个月的进展将迎头赶上,项目预计将按计划完成。

(iii) Penang Transport Master Plan
有关填海工程和Pan Island Link 1的环境影响评估报告及轻铁的铁路计划已提交,并正由有关的联邦政府机构进行检讨。

(b) GAMUDA LAND部门
该产业部门今年上半年销售价值19亿令吉的物业,并有望实现全年目标销售额达35亿令吉,超过去年24亿令吉的销售额。更好的业绩是由越南支持的海外销售以及新的Gamuda Gardens和twentyfive.7。

(i)马来西亚
新的Gamuda Gardens和twentyfive.7引起了市场强烈的兴趣。
最近的推出包括:
-Gamuda Gardens - 260个Lavena type and Nara type的排屋
-twentyfive.7 - Lucent Residences由181个单位的排屋和98个单位的半独立式住宅组成
North Tower of The Robertson development于2018年1月18日移交,南塔将于2018年4月竣工。

Gamuda Cove是一个价值200亿令吉的未来地标性乡镇发展项目,位于高速公路Lingkaran Tengah(ELITE Highway)的Cyber​​jaya / Putrajaya立交桥对面,占地1,530英亩,距离吉隆坡国际机场15分钟车程,将于2018年下半年推出。总体而言,本地项目贡献了30%的销售额。

(ii)海外
胡志明市的Celadon City和河内的Gamuda City继续保持强劲的业绩,并且仍然是海外销售的最大贡献者。高层共管公寓;新加坡的GEM Residences和澳大利亚墨尔本的661 Chapel Street也达到了令人鼓舞的销售额。迄今为止,自2016年年中推出以来,90%的GEM Residences已售出,而661 Chapel Street的建设目标是在2018年4月完工。海外项目占整体销售额的70%。

(c) GAMUDA INFRASTRUCTURE CONCESSIONS部门
(i)高速公路
除SMART高速公路的交通量低于预期外,其他高速公路的交通量继续保持稳定和弹性。

(ii)水
与雪兰莪州政府就Sungai Selangor Water Supply Scheme第一期和第三期特许权持有人Syarikat Pengeluar Air Sungai Selangor Sdn Bhd('Splash')的水务资产和业务的收购进行谈判仍在进行中。

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James Ng

Gamuda wishes to announce that the Consortium has on 2 May 2018 accepted a Letter of Appointment (“LoA”) from MyHSR Corporation Sdn Bhd (Company No. 1147719-M) (“MyHSR Corp”) appointing the Consortium as the PDP for the northern section of the HSR project i.e. from Bandar Malaysia Station to the Contract Boundary being the first standard viaduct pier on the south side of Melaka Station on “plain line track” beyond the station fan at approximate chainage 200 366 from the International Boundary (PDP-North Package Project”). (http://www.bursamalaysia.com/…/company-announcements/5782025)

Prospects:
The Group anticipates a better performance this year as MRT Line 2’s progress picks up pace, higher property sales driven by overseas projects especially Vietnam and the new townships in Malaysia; and steady earnings contribution from the expressway division.

(a) GAMUDA ENGINEERING
(i) Klang Valley Mass Rapid Transit: Sungai Buloh – Serdang – Putrajaya Line (“MRT Line 2”)
Project Delivery Partner (“PDP”) Line 2 :
The overall cumulative progress at the end of February 2018 is on track at 17.7%. Procurement of the works packages has reached RM31 billion, which represents 98% of the value of the overall works.

The PDP has instituted the following actions to improve worksite safety:
-Mandated enhanced surveillance of all launching gantry works by the Supervising Consultants to ensure tighter controls during critical and high risk stages.
-Mandated a comprehensive training plan for all launching gantry staff to be implemented by the Works Package Contractors. This training plan will be endorsed by the launching gantry manufacturers.
-Mandated enhanced audits for both training and implementation of launching gantry works.
-Reviewed all other high risk activities linewide with the view to enhance safety controls of all other works that are being implemented at the SSP Project.

Underground Works Package (“UGW Line 2”):
To achieve the Original Line Opening Date, MMC Gamuda made a proposal to accelerate the programme, with costs, and this was accepted by MRT Corporation. The overall cumulative progress at end of February 2018 is 26.0%, which is ahead by 1.5% according to the accelerated programme. The first tunnel boring machine at Bandar Malaysia North Station has been fully assembled and officially launched as scheduled on 1 March 2018.

(ii) Pan Borneo Highway, Sarawak – WPC04 (Pantu Junction to Btg Skrang)
Naim Engineering Sdn Bhd – Gamuda Berhad JV accepted the award of the WPC04 (Pantu Junction to Btg Skrang) for the Pan Borneo Sarawak project. The scope includes the widening and upgrading of the existing 89.30km long, 2-lane single carriageway road to a 4-lane dual carriageway of JKR R5 standard. Overall cumulative progress at the end February 2018 was 21.6% and was slightly behind schedule due to the monsoon period. With the end of the raining season, progress is expected to catch up in the coming months and the project is expected to be completed on schedule.

(iii) Penang Transport Master Plan
The Enviromental Impact Assessment (EIA) reports for the reclamation works and the Pan Island Link 1, and the Railway Scheme for the Light Rail Transit have been submitted, and are undergoing review by the relevant Federal Government bodies.

(b) GAMUDA LAND
The property division sold RM1.9 billion worth of properties for the first half of this year and is on track to achieve full year target sales of RM3.5 billion, surpassing last year’s sales of RM2.4 billion. The better performance is driven by overseas sales, underpinned by Vietnam, and the new local townships of Gamuda Gardens and twentyfive.7.

(i) Malaysia
The new local townships of Gamuda Gardens and twentyfive.7 attracted strong interest from the market.
Recent launches included:
-Gamuda Gardens - 260 units Terrace Homes of Lavena type and Nara type
-twentyfive.7 - Lucent Residences consisting of 181 units of Terrace Homes and 98 units Semi-Detached Homes
The North Tower of The Robertson development was handed over on 18 January 2018, and the South Tower is to be completed in April 2018.

Gamuda Cove, a future landmark township development with a GDV of RM20 billion on 1,530 acres located opposite the Cyberjaya/Putrajaya interchange along Expressway Lingkaran Tengah (ELITE Highway), and 15 minutes from Kuala Lumpur International Airport will be launched in the second half of 2018. Overall, local projects contributed 30% of the sales.

(ii) Overseas
Celadon City in Ho Chi Minh City and Gamuda City in Hanoi continued to deliver a strong set of results and remains the biggest contributor of overseas sales. Both high-rise condominiums; GEM Residences in Singapore and 661 Chapel Street in Melbourne, Australia are also registering encouraging sales. To-date, 90% of GEM Residences were sold since its launch in mid-2016 while the construction of 661 Chapel Street is targeted for completion in April 2018. The overseas projects contributed 70% of the overall sales.

(c) GAMUDA INFRASTRUCTURE CONCESSIONS
(i) Expressway
Except for the SMART Expressway which experienced lower-than-expected traffic, the traffic volumes of other expressways continue to be stable and resilient.

(ii) Water
Negotiations with the Selangor State Government on its effort to acquire the water assets and operations of Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (‘Splash’), the concession holder of the Sungai Selangor Water Supply Scheme Phase 1 and 3, are still ongoing.

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James Ng

 

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