[MMC CORP BHD：完成收购Penang Port Sdn Bhd的51％股权，预计将增加港口和物流部门的收益]

2Q18 vs 2Q17:
收入被来自Johor Port Berhad（“JPB”）的RAPID Material Offloading Facilities（“RAPID MOLF”）业务的较低贡献以及Northport（Malaysia）Bhd（“NMB”）处理的较低集装箱量所抵消。与截至2017年6月30日止的相应季度的1.015亿令吉相比，集团的zakat前和税前利润减少至4,010万令吉，主要原因如下：

1)如上所述，JPB和NMB的贡献较低;和

2)马拉科夫的利润份额较低归因于Segari Energy Venture（“SEV”）工厂的贡献较低以及燃煤电厂的燃料利润率较低。

YTD18 vs YTD17：
收入被JPB的RAPID MOLF operations贡献减少以及NMB处理的集装箱量减少所抵消。与去年同期的1.949亿令吉相比，集团在zakat前和税前的利润减少至1.043亿令吉，主要原因如下：

1)如上所述，JPB和NMB的贡献较低;和

2)马拉科夫的利润份额较低归因于Segari Energy Venture（“SEV”）工厂的贡献较低，煤电厂的燃料利润率较低以及关联公司的贡献较低。

港口和物流：
该部门录得收入13.945亿令吉，较去年同期的14.174亿令吉减少1.6％，原因如下：

1）随着项目即将完成，来自JPB的RAPID MOLF operations的贡献较低;和

2）由于全球航运联盟的变化，NMB处理的集装箱量下降。

由于JPB和NMB的贡献较低，该部门zakat前和税前利润减少1.053亿令吉至1.366亿令吉，而去年同期则录得2.419亿令吉。

能源与公用事业：
由于马拉科夫的利润份额较低，该部门录得zakat前和税前利润减少到6350万令吉，而去年同期则为9,770万令吉。这主要是由于SEV工厂的贡献减少，燃煤电厂的燃料利润率下降以及联营公司的贡献减少。

工程：
由于KVMRT-SSP线的进展，该部门录得zakat前和税前利润增加79.7％，从去年同期的8,470万令吉增加至1.522亿令吉。

投资控股，企业及其他：
该部门录得较高的zakat前和税前亏损（增加1,900万令吉）至2.489亿令吉，而去年同期则录得2.299亿令吉，主要是由于融资成本增加所致。

2Q18 vs 1Q18：
马矿业本季度的zakat前和税前利润为4,010万令吉，而上一季度则为6430万令吉，原因是由于Zelan Berhad在重新分类为投资证券后没有重新计量收益。

前景：
最近于2018年5月完成收购Penang Port Sdn Bhd的51％股权，预计将增加港口和物流部门的收益。
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James Ng Stock Pick Performance:
Since Recommended Return:

1) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.89 in 1 month 23 day, total return is 24.5%

2) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.915 in 3 months 4 day, total return is 15.1%

3) Gtronic (GLOBETRONICS TECHNOLOGY BHD), recommended on 8 Jul 18, initial price was RM2.17, rose to RM2.46 in 2 months 27 days, total return is 13.4%

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。

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James Ng
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[MMC CORP BHD: completion of acquisition of the balance 51% interest in Penang Port Sdn Bhd in May 2018 is expected to contribute positively to the Ports & Logistics division’s earnings]

2Q18 vs 2Q17:
Revenue was offset with lower contribution from RAPID Material Offloading Facilities (“RAPID MOLF”) operations at Johor Port Berhad (“JPB”) and lower container volume handled at Northport (Malaysia) Bhd (“NMB”). The Group’s Profit before zakat and taxation decreased to RM40.1 million compared with RM101.5 million reported in the corresponding quarter ended 30 June 2017, mainly due to the following:

i. Lower contribution from JPB and NMB as explained above; and

ii. Lower share of profit from Malakoff attributed to lower contribution from Segari Energy Venture’s (“SEV”) plant and lower fuel margin recorded at coal plants.

YTD18 vs YTD17:
Revenue was offset with lower contribution from RAPID MOLF operations at JPB and lower container volume handled at NMB. The Group’s Profit before zakat and taxation decreased to RM104.3 million compared with RM194.9 million reported in the corresponding period of the preceding year, mainly due to the following:

i. Lower contribution from JPB and NMB as explained above; and

ii. Lower share of profit from Malakoff attributed to lower contribution from Segari Energy Venture’s (“SEV”) plant, lower fuel margin recorded at coal plants and lower contribution from associates.

Ports & Logistics:
The segment recorded revenue of RM1,394.5 million, a decrease of 1.6% compared with RM1,417.4 million reported in the corresponding period of the preceding year, due to:

i. lower contribution from RAPID MOLF operations at JPB as the project is near completion; and

ii. lower container volume handled at NMB due to shifting of global shipping alliances.

The segment recorded decrease in Profit before zakat and taxation by RM105.3 million to RM136.6 million compared with RM241.9 million reported in the corresponding period of the preceding year due to lower contribution from JPB and NMB.

Energy & Utilities:
The segment recorded a decrease in Profit before zakat and taxation of RM63.5 million compared with RM97.7 million reported in the corresponding period of the preceding year due to lower share of profit from Malakoff. This is mainly attributable to lower contribution from SEV’s plant, lower fuel margin recorded at coal plants and lower contribution from associates.

Engineering:
The segment recorded an increase of 79.7% in Profit before zakat and taxation to RM152.2 million from RM84.7 million reported in the corresponding period of the preceding year mainly due to progress from KVMRT-SSP Line.

Investment Holding, Corporate & Others:
The segment recorded higher Loss before zakat and taxation by RM19.0 million to RM248.9 million compared with RM229.9 million reported in the corresponding period of the preceding year mainly due to higher finance costs incurred.

2Q18 vs 1Q18:
The Group recorded lower Profit before zakat and taxation of RM40.1 million in the current quarter compared with RM64.3 million in the immediate preceding quarter attributed to absence of remeasurement gain of investment in Zelan Berhad upon reclassification to investment securities.

Prospects:
The recent completion of acquisition of the balance 51% interest in Penang Port Sdn Bhd in May 2018 is expected to contribute positively to the Ports & Logistics division’s earnings.
------------------------------------------------
James Ng Stock Pick Performance:
Since Recommended Return:

1) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.89 in 1 month 23 day, total return is 24.5%

2) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.915 in 3 months 4 day, total return is 15.1%

3) Gtronic (GLOBETRONICS TECHNOLOGY BHD), recommended on 8 Jul 18, initial price was RM2.17, rose to RM2.46 in 2 months 27 days, total return is 13.4%

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/

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James Ng