[IOI PROPERTIES GROUP BHD：办公室租赁的市场环境竞争激烈，在竞争日益激烈的市场中仍然具有挑战性，预计竞争者将推出许多新酒店]

4Q18 vs 4Q17:
IOI产业这季度录得收入6亿7400万令吉，较去年同期低5.213亿令吉或44％。扣除投资物业的公允价值收益1.648亿令吉及净外币换算亏损8,990万令吉后，本季度的税前综合溢利为2.314亿令吉，相当于低了3.078亿令吉或57%，对比相应前一年的5.392亿令吉（扣除投资物业的公允价值收益4,880万令吉，外币换算收益490万令吉，以及一次性物业，厂房及设备注销4,330万令吉）。本季度收入和税前利润较低是由于海外项目在房地产开发部门的贡献较低。

物业发展：
物业发展部门于本季度录得收入及营业利润分别为5.44亿令吉及1亿5,050万令吉，分别比相应季度前一年低了5.312亿令吉或49％及3亿3,110万令吉或69％。IOI产业于本季度的表现较低，主要是由于海外发展项目的利润贡献减少，因为Trilinq，Singapore及中国厦门D3 Residence的待售单位较少。

物业投资：
本季度的收入和营业利润分别为8,350万令吉和4,390万令吉，分别比上年同期高出610万令吉或8％及10万令吉或1％，上年同期是RM7740万和4,380万令吉（分别扣除上一年度相应季度的一笔4,330万令吉的物业，厂房及设备的注销）。

热情招待和休闲：
本季度的收入和营业利润分别为4350万令吉和590万令吉，分别比去年同期高出260万令吉或6％及730万令吉或521％。

YTD18 vs YTD17：
IOI产业于本年度迄今分别录得收入及税前利润27.926亿令吉及9.067亿令吉（扣除投资物业公平值收益1.648亿令吉）后，分别比上一年同期减少13.928亿令吉或33%及6亿8090万令吉或43％，对比上一年分别为41.854亿令吉及15.876亿令吉（扣除额外买家印花税1.639亿令吉，一次性物业，厂房及设备注销金额为4,330万令吉，投资物业的公允价值收益分别为5,620万令吉）。由于巴生谷及新加坡及中国海外项目在物业发展部门的贡献减少，IOI产业于本期间的表现较低。

4Q18 vs 3Q18：
IOI产业于本季度录得税前利润1.415亿令吉（扣除投资物业的公允价值收益为1.648亿令吉），较上一季度的RM2.217亿低8020万令吉或36％。本季度录得的除税前利润较低主要是由于外币换算亏损8,990万令吉，主要是本季度录得的外币借款换算所致。

前景：
就物业投资部门而言，尽管办公室租赁的市场环境竞争激烈，IOI产业将继续管理其投资物业组合，以确保这些物业得到充分利用，为IOI产业带来源源不断的经常性收入。对于酒店和休闲市场而言，在竞争日益激烈的市场中仍然具有挑战性，预计竞争者将推出许多新酒店。
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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 RM0.865 in 3 months 4 day, total return is 21%

2) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.91 in 4 months 15 days, total return is 14.5%

3) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.10 in 1 month 2 days, total return is 11.1%

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
时间：11a.m. – 7p.m

日期：11月25日星期日
地点：Hotel Sri Petaling, KL (包括茶点)

日期：12月9日星期日
地点：Tropical Inn, Johor Bahru (包括茶点)

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

日期：12月23日星期日
地点：Kuching

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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James Ng
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[IOI PROPERTIES GROUP BHD: competitive market environment for office leasing, market remains challenging in an increasingly competitive market with many new hotels envisaged to be launched]

4Q18 vs 4Q17:
The Group recorded revenue of RM674.0 million for the current year quarter, which is RM521.3 million or 44% lower than the corresponding quarter of the preceding year. After excluding the fair value gain on investment properties of RM164.8 million and net foreign currency translation loss of RM89.9 million, consolidated profit before taxation of RM231.4 million for the current year quarter is RM307.8 million or 57% lower than the reported RM539.2 million(after excluding the fair value gain on investment properties of RM48.8 million, foreign currency translation gain of RM4.9 million and one off property, plant and equipment written off of RM43.3 million) in the corresponding quarter of the preceding year. Lower revenue and profit before taxation in the current quarter are due to lower contribution from overseas projects in the property development segment.

Property development:
The property development segment recorded revenue and operating profit of RM544.0 million and RM150.5 million respectively in the current quarter, which is RM531.2 million or 49% and RM331.1 million or 69% respectively lower than the corresponding quarter of the preceding year. Performance of the Group was lower in the current quarter predominantly due to lower profit contribution from development projects overseas arising from lesser units remaining for sale in both Trilinq, Singapore and D3 Residence in Xiamen, PRC.

Property investment:
Revenue and operating profit of RM83.5 million and RM43.9 million respectively for the current quarter, which is RM6.1 million or 8% and RM0.1 million or 1% higher than the corresponding quarter of the preceding year of RM77.4 million and RM43.8 million(after excluding one off property, plant and equipment written off of RM43.3 million in the corresponding quarter of the preceding year) respectively.

Hospitality and leisure:
Revenue and operating profit of RM43.5 million and RM5.9 million respectively recorded for the current quarter is RM2.6 million or 6% and RM7.3 million or 521% higher than the corresponding quarter of the preceding year.

YTD18 vs YTD17:
The Group recorded revenue and profit before taxation of RM2,792.6 million and RM906.7 million (after excluding the fair value gain on investment properties of RM164.8 million) respectively for the current year to date, which is RM1,392.8 million or 33% and RM680.9 million or 43% respectively lower than the corresponding period of the preceding year of RM4,185.4 million and RM1,587.60 million(after excluding the additional buyers stamp duty of RM163.9 million, one off property, plant and equipment written off of RM43.3 million and fair value gain on investment properties of RM56.2 million) respectively. Performance of the Group is lower in the current period under review due to lower contribution from Klang Valley and overseas projects in both, Singapore and PRC in the property development segment.

4Q18 vs 3Q18:
The Group recorded profit before taxation of RM141.5 million (after excluding fair value gain on investment properties of RM164.8 million) for the current quarter, which is RM80.2 million or 36% lower than the immediate preceding quarter of RM221.7 million. Lower profit before taxation recorded in the current quarter was mainly due to foreign currency translation loss of RM89.9 million mainly on translation of foreign currency borrowings recorded in the current quarter.

Prospects:
With regard to the property investment segment, despite competitive market environment for office leasing, the Group will continue to manage its portfolio of investment properties to ensure that these are well occupied to generate a steady stream of recurring revenue for the Group. For the hospitality and leisure segment, the market remains challenging in an increasingly competitive market with many new hotels envisaged to be launched.
------------------------------------------------
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 RM0.865 in 3 months 4 day, total return is 21%

2) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.91 in 4 months 15 days, total return is 14.5%

3) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.10 in 1 month 2 days, total return is 11.1%

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/182290.jsp by date.

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

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

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If you want to join my WhatsApp group (there will be no James Ng's stock pick inside), please PM or email me your handphone number.

Final decision is always yours, thank you.

James Ng