[SUNWAY BHD：新政府在改善治理，问责制和透明度方面的承诺和努力，它将提升国内消费者和企业的信心，这将有助于巩固未来的经济增长势头]

本季度：
双威于截至2018年6月30日止的本季度录得收入12.871亿令吉及税前利润为2.422亿令吉，而去年同期则收入为12.405亿令吉及税前利润为2.702亿令吉，收入增加3.8％，税前利润减少10.3％。税前利润减少主要是由于双威新加坡物业发展项目之一采用MFRS 15，双威于建成后才能确认发展利润。利润贡献较低的其他部门为建筑材料及双威的资金业务。

房地产开发部门本季度收入为8,870万令吉，税前利润为4,640万令吉，而上一财政年度的相应季度收入为2亿7070万令吉及税前利润为7,490万令吉，收入减少67.2％，税前利润减少38.0％。由于本地开发项目的进度收入减少，本季度业绩较低。这集团新加坡房地产开发项目之一采用MFRS 15也影响了业绩。

采石场部门本季度收入为5,790万令吉及税前利润为290万令吉，而上一财政年度相应季度的收入为5,870万令吉及税前利润为400万令吉，收入减少1.4％，税前利润减少27.3％。本季度该部门的财务表现较低，主要是由于总量和预混料的销售量下降以及总量的销售价格下降。

其他部门于本季度录得收入1.877亿令吉及税前利润2740万令吉，而上一财政年度相应季度收入为1.669亿令吉及税前利润为3960万令吉，收入增加12.5％，税前利润减少30.8％。税前利润减少主要是由于双威资金业务贡献减少及建材业务营运利润率下降所致。

在6个月内：
截至2018年6月30日止的当前6个月期间，双威录得收入25.955亿令吉及税前利润为4.031亿令吉，而截至2017年6月30日止相应6个月期间收入为23.293亿令吉及税前利润为4亿2180万令吉，收入增加11.4％，税前利润减少4.4％。本期税前利润较低，主要是由于房地产开发部门的利润贡献减少，这也受到集团新加坡房地产开发项目采用MFRS 15的影响。

物业发展部门于截至2018年6月30日止的当前6个月内录得收入2.21亿令吉及税前利润7020万令吉，而截至2017年6月30日止6个月期间收入为4亿1140万令吉及相应税前利润为1.033亿令吉，收入减少46.3％，税前利润减少32.0％。财务表现较低主要是由于本期发展项目的进度收入较低，以及上一年同期的地方发展项目完工和移交所致。此外，采纳MFRS 15后，双威新加坡物业发展项目之一的累积盈利仅可于完成时确认。

采石场部门截至2018年6月30日止的当前6个月收入为1.079亿令吉及税前利润为470万令吉，相比之下截至2017年6月30日止的6个月收入为9890万令吉及税前利润为490万令吉，收入增加9.1％，税前利润减少4.9％。税前利润略微下降主要是由于经营利润率下降。

截至2018年6月30日止的其他部门录得收入为3亿7,190万令吉及税前利润为5,550万令吉，相比之下截至2017年6月30日止的期间收入为3.258亿令吉及税前利润为7,200万令吉，收入增加14.1％，税前利润减少22.9％。然而，税前利润下降主要是由于建材部门的营业利润率下降以及双威资金业务的贡献减少。

2Q18 vs 1Q18：
双威本季度收入为12.871亿令吉，税前利润为2.422亿令吉，而上季收入为13亿840万令吉及税前利润为1亿6,090万令吉，相当于收入减少1.6％，税前利润增加50.6％。本季度收入较低主要是由于房地产开发业务贡献较低，而税前利润较高，原因是大多数业务部门的贡献增加以及在本季度双威房地产投资信托房产重估的公允价值收益份额为5920万令吉。

物业发展部门本季度收入为8,870万令吉及税前利润为4,640万令吉，而上一季度收入为1亿3230万令吉及税前利润为2,380万令吉，相当于收入减少33.0％，税前利润增加95.4％。本季度收入较低的主要原因是，在上一季度完成并移交了一个地方开发项目后，本地开发项目的进度费用减少。

物业投资部门本季度收入为2.167亿令吉及税前利润为1.025亿令吉，而上一季度收入为2亿2000万令吉及税前利润为5,560万令吉，相当于收入减少1.5％，税前利润增加84.3％。

其他部门于本季度录得收入1.877亿令吉及税前利润2740万令吉，而上季收入为1.842亿令吉及税前利润为2810万令吉，收入增加1.9％，税前利润减少2.5％。本季度收入增长主要归因于医疗保健部门，而税前利润减少主要是由于双威本季度资金业务贡献减少所致。

前景：
随着新政府在改善治理，问责制和透明度方面的承诺和努力，它将提升国内消费者和企业的信心，这将有助于巩固未来的经济增长势头。这种积极的发展对于集团多元化但互补的业务来说是个好兆头。
------------------------------------------------
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%

4) PMETAL (PRESS METAL ALUMINIUM HOLDINGS BHD), recommended on 26 Aug 18, initial price was RM4.78, rose to RM5.08 (dividend RM0.015) in 1 month 9 days, total return is 6.6%

5) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM4.13 (dividend RM0.0215) in 2 months 6 days, total return is 4.8%

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

【看懂年报和季报】课程
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日期：10月21日星期日
地点：Kuching

日期：10月28日星期日
地点：Tropical Inn, Johor Bahru (包括茶点)

日期：11月25日星期日
地点：Hotel Sri Petaling, KL

日期：12月16日星期日
地点：Tune Hotel, George Town (Penang)

有兴趣的朋友，可以电邮或PM FB page联络我
email：jamesngshare@gmail.com
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最终决定永远是你的，谢谢。

James Ng
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[SUNWAY BHD: new government’s commitment and efforts in improving governance, accountability and transparency, it will boost domestic consumer and business confidence, which will help to underpin the economic growth momentum going forward]

For the quarter:
The Group recorded revenue of RM1,287.1 million and profit before tax of RM242.2 million for the current quarter ended 30 June 2018 compared to revenue of RM1,240.5 million and profit before tax of RM270.2 million in the corresponding quarter of the previous financial year, representing an increase in revenue of 3.8% and decrease in profit before tax of 10.3%. The lower profit before tax was mainly due to the adoption of MFRS 15 on one of the Group’s Singapore property development projects, for which the Group can only recognise the development profits upon its completion. The other segments with lower profit contributions were building materials and the Group’s treasury operations.

The property development segment reported revenue of RM88.7 million and profit before tax of RM46.4 million in the current quarter compared to revenue of RM270.7 million and profit before tax of RM74.9 million in the corresponding quarter of the previous financial year, representing a decrease in revenue of 67.2% and profit before tax of 38.0%. Performance in the current quarter was lower due to lower progress billings from local development projects. The performance was also impacted by the adoption of MFRS 15 on one of the Group’s Singapore property development projects.

The quarry segment reported revenue of RM57.9 million and profit before tax of RM2.9 million in the current quarter compared to revenue of RM58.7 million and profit before tax of RM4.0 million in the corresponding quarter of the previous financial year, representing a decrease in revenue of 1.4% and profit before tax of 27.3%. The financial performance of the segment in the current quarter was lower mainly due to lower sales volume for aggregates and premix, and lower selling price for aggregates.

The other segments recorded revenue of RM187.7 million and profit before tax of RM27.4 million in the current quarter compared to revenue of RM166.9 million and profit before tax of RM39.6 million in the corresponding quarter of the previous financial year, representing an increase in revenue of 12.5% and decrease in profit before tax of 30.8%. The decrease in profit before tax was primarily attributable to lower contribution from the Group’s treasury operations and lower operating margins in the building materials segment.

For the 6 months period:
The Group recorded revenue of RM2,595.5 million and profit before tax of RM403.1 million for the current 6 months period ended 30 June 2018 compared to revenue of RM2,329.3 million and profit before tax of RM421.8 million in the corresponding 6 months period ended 30 June 2017, representing an increase in revenue of 11.4% and decrease in profit before tax of 4.4%. Current period profit before tax was lower, mainly due to lower profit contribution from the property development segment, which was also impacted by the adoption of MFRS 15 on one of the Group’s Singapore property development projects.

The property development segment reported revenue of RM221.0 million and profit before tax of RM70.2 million for the current 6 months period ended 30 June 2018 compared to revenue of RM411.4 million and profit before tax of RM103.3 million in the corresponding 6 months period ended 30 June 2017, representing a decrease in revenue of 46.3% and profit before tax of 32.0%. The lower financial performance was mainly due to lower progress billings from local development projects in the current period, and completion and handover of a local development project in the corresponding period of the previous year. Further, following the adoption of MFRS 15, the progressive profits from one of the Group’s Singapore property development projects can only be recognised upon completion.

The quarry segment reported revenue of RM107.9 million and profit before tax of RM4.7 million for the current 6 months period ended 30 June 2018 compared to revenue of RM98.9 million and profit before tax of RM4.9 million in the corresponding 6 months period ended 30 June 2017, representing an increase in revenue of 9.1% and decrease in profit before tax of 4.9%. Profit before tax was marginally lower mainly due to lower operating margin.

The other segments recorded revenue of RM371.9 million and profit before tax of RM55.5 million for the current 6 months period ended 30 June 2018 compared to revenue of RM325.8 million and profit before tax of RM72.0 million in the corresponding 6 months period ended 30 June 2017, representing an increase in revenue of 14.1% and decrease in profit before tax of 22.9%. The lower profit before tax, however, was primarily attributable to lower operating margins in the building materials segment and lower contribution from the Group’s treasury operations.

2Q18 vs 1Q18:
The Group recorded revenue of RM1,287.1 million and profit before tax of RM242.2 million for the current quarter compared to revenue of RM1,308.4 million and profit before tax of RM160.9 million in the preceding quarter, representing a decrease in revenue of 1.6% and increase in profit before tax of 50.6%. Revenue was lower in the current quarter mainly due to lower contribution from the property development segment, while profit before tax was higher due to higher contributions from most business segments and share of fair value gains from revaluation of Sunway REIT properties of RM59.2 million recorded in the current quarter.

The property development segment reported revenue of RM88.7 million and profit before tax of RM46.4 million for the current quarter compared to revenue of RM132.3 million and profit before tax of RM23.8 million in the preceding quarter, representing a decrease in revenue of 33.0% and increase in profit before tax of 95.4%. The lower revenue in the current quarter was mainly due to lower progress billings from local development projects, following the completion and handover of a local development project in the preceding quarter.

The property investment segment reported revenue of RM216.7 million and profit before tax of RM102.5 million for the current quarter compared to revenue of RM220.0 million and profit before tax of RM55.6 million in the preceding quarter, representing a decrease in revenue of 1.5% and increase in profit before tax of 84.3%.

The other segments recorded revenue of RM187.7 million and profit before tax of RM27.4 million for the current quarter compared to revenue of RM184.2 million and profit before tax of RM28.1 million in the preceding quarter, representing an increase in revenue of 1.9% and decrease in profit before tax of 2.5%. The increase in revenue in the current quarter was mainly attributable to the healthcare segment, while the decrease in profit before tax was mainly due to lower contribution from the Group’s treasury operations in the current quarter.

Prospects:
With the new government’s commitment and efforts in improving governance, accountability and transparency, it will boost domestic consumer and business confidence, which will help to underpin the economic growth momentum going forward. Such positive development will augur well for the Group’s diverse yet complementary businesses.
------------------------------------------------
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%

4) PMETAL (PRESS METAL ALUMINIUM HOLDINGS BHD), recommended on 26 Aug 18, initial price was RM4.78, rose to RM5.08 (dividend RM0.015) in 1 month 9 days, total return is 6.6%

5) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM4.13 (dividend RM0.0215) in 2 months 6 days, total return is 4.8%

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://klse.i3investor.com/blogs/general/176638.jsp by date.

James的股票投资James Share Investing Blog: https://klse.i3investor.com/blogs/general/

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Final decision is always yours, thank you.

James Ng