[KOSSAN RUBBER INDUSTRIES BHD：工厂17（P17）每年能生产多达15亿件手套，已于2018年11月全面投入使用，工厂18（25亿件）​​和工厂19（30亿件）的建设工程目前正在进行中，预计分别在2019年第二季度和2019年第四季度全面投入使用]

YTD18 vs YTD17:
于二零一八年财政年度的九个月，高产柅品工业录得收入15.5486亿令吉，较2017年同期的14.7967亿令吉增加5.08％。税前利润（PBT）为1.7793亿令吉，与去年同期的1.7061亿令吉相比，增长4.29％。今年迄今表现有所改善，主要是由于TRP部门与9M17相比贡献较高。

手套部门9M18的收入为13.5745亿令吉，较9M17的13.0215亿令吉增长4.25％。业绩稳定主要由于高产柅品工业手套产品需求持续强劲，平均售价较高（+ 4.8％）及销量（+ 7.9％）较去年同期增加。工厂16（P16）每年能够生产多达30亿件手套，并已于2018年8月全面投入使用，已开始为集团的业绩做出积极贡献。该模型工厂效率高，采用高速浸渍技术，自动化程度高，减少对手工劳动的依赖。

9M18的TRP部门收入增长12.08％至1.3424亿令吉，而9M17的收入为1.1977亿令吉，而PBT则从去年同期的1,181万令吉飙升69.66％至2,003万令吉。业绩改善主要归因于销售交付量增加及利润率较高的产品销售。 9M18，洁净室部门的收入和PBT分别为6,070万令吉和247万令吉，而9M17为5,614万令吉和230万令吉。

3Q18 vs 3Q17：
3Q18，高产柅品工业录得最高季度收入5.7390亿令吉，较2017年第3季的4.8918亿令吉增加17.32％，而本季度PBT则较去年同期增加21.70％至7,083万令吉，而去年为5820万。

手套部门的收入从2017年第3季度的4.2592亿令吉上升18.75％至这季度的5.0578亿令吉，而本季度的PBT增长17.62％至6,307万令吉，而去年同期则为5,362万令吉。由于高产柅品工业手套产品需求持续强劲，平均销售价格较高（+ 11.5％）及销售量（+ 11.9％）较上年同期增加，业绩改善。在本期间，天然橡胶价格下跌（-23.67％）。

TRP部门的收入为4,613万令吉，较2017年第3季的3,793万令吉增加21.60％，而本季度PBT则飙升89.48％至688万令吉，而去年同期则为363万令吉。业绩改善主要归因于销售交付量增加及利润率较高的产品销售。洁净室部门在3Q18收入和PBT分别为2103万令吉和92万令吉，而2017年第3季度则为2,480万令吉和79万令吉。

3Q18 vs 2Q18：
按季度计算，集团第三季度的季度收入最高为5.739亿令吉，较二季度的4.9679亿令吉增长15.52％，而PBT则飙升29.00％至本季度的7083万令吉，而上一季度为5490万令吉。财务的提升主要归功于手套部门的财务提升。

手套部门的收入在3Q18超过5亿令吉至5.0578亿令吉，较2Q18的4亿3236万令吉增长16.98％。 PBT飙升36.11％至6,307万令吉，而上一季度则为4,634万令吉。业绩改善主要是由于高产柅品工业手套产品需求持续强劲，销售量增加（+ 7.71％），因为新产能即将上市以及现有工厂满负荷运转，平均提高销售价格（+ 1.8％），提高制造和生产效率以及有效的成本控制。工厂16（P16）每年能够生产多达30亿件手套，并已于2018年8月全面投入使用，已开始为高产柅品工业本季度的业绩做出积极贡献。

TRP部门本季度录得收入4,613万令吉，较二季度录得的4,454万令吉增加3.57％，而PBT则较之前的811万令吉减少至688万令吉。 洁净室部门在3Q18收入和PBT分别为2103万令吉和92万令吉，而2Q18则为1,930万令吉和113万令吉。

前景：
随着对集团手套产品需求的持续增长，手套行业的前景依然强劲。工厂17（P17）每年能生产多达15亿件手套，已于2018年11月全面投入使用，预计将对高产柅品工业下一季度的业绩作出积极贡献。

工厂18（25亿件）​​和工厂19（30亿件）的建设工程目前正在进行中，预计分别在2019年第二季度和2019年第四季度全面投入使用。此后，集团扩建计划的下一阶段将集中在霹雳州Bidor，继2018年3月以8740万令吉购买824英亩土地之后。这片土地旨在发展集团在中长期的集中地点（即集成手套制造设施）的扩张。高产柅品工业预计目前正处于规划阶段的扩建将于2020年开始，并需要8年才能完成。预计将逐步增加产能，额外产能将在完成后每年增加450亿件手套的额外产量。该土地的战略位置具有良好的连通性和现成的公用事业（天然气，电力和水）和当地人力资源，将有助于集团的长期扩张计划。

对于技术橡胶产品部门，高产柅品工业认为该部门稳定，并对2018年的表现持乐观态度。随着集团的扩张计划和新产能的投产，加上对手套的持续强劲需求，持续的转型计划和运营效率的提升，管理层有信心在2018年第四季度实现业绩改善。
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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 RM0.85 in 3 months 3 day, total return is 18.9%

2) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.16 in 1 month 5 days, total return is 14.3%

3) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.905 in 4 months 18 days, total return is 13.8%

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

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James Ng
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[KOSSAN RUBBER INDUSTRIES BHD: Plant 17 (P17) which is capable of producing up to 1.5 billion pieces of gloves per annum has been fully commissioned in November 2018, construction works for Plant 18 (2.5 billion pieces) and Plant 19 (3 billion pieces) are currently on-track, with expected full commissioning by the 2nd quarter of 2019 and 4th quarter of 2019 respectively]

YTD18 vs YTD17:
For the 9 months of FY2018, the Group recorded revenue of RM1,554.86 million, an increase of 5.08% as compared with RM1,479.67 million for the corresponding period in 2017. Profit before taxation (PBT) was RM177.93 million, rising by 4.29% as compared with RM170.61 million for the corresponding period last year. The improved year-to-date performance was mainly attributable to the higher contributions from the TRPs division as compared with 9M17.

The Gloves division’s revenue for the 9M18 was RM1,357.45 million, an increase of 4.25% compared with RM1302.15 million in 9M17. The stable performance was mainly attributable to the continued strong demand for the Group’s glove products, with higher average selling prices (+4.8%) and higher volume sold (+7.9%) as compared with the preceding year period. Plant 16 (P16) which is capable of producing up to 3 billion pieces of gloves per annum and which has been fully commissioned in August 2018, has started contributing positively to the Group’s performance. This model plant is efficient, utilising high-speed dipping technology with a high degree of automation to reduce dependence on manual labour.

The TRPs division’s revenue rose 12.08% to RM134.24 million for the 9M18 as compared with RM119.77 million in 9M17, while PBT soared 69.66% to RM20.03 million from RM11.81 million recorded in the previous year corresponding period. The improved performance was mainly attributable to increased sales deliveries and sales of higher margin products. The Cleanroom division recorded revenue and PBT of RM60.70 million and RM2.47 million respectively for 9M18, as compared with RM56.14 million and RM2.30 million in 9M17.

3Q18 vs 3Q17:
For the 3Q18, the Group recorded its highest quarterly revenue of RM573.90 million, an increase of 17.32% as compared with RM489.18 million in 3Q17, while PBT rose 21.70% to RM70.83 million in the current quarter as compared with RM58.20 million in the previous year.

The Gloves division’s revenue rose 18.75% to RM505.78 million in 3Q18 from RM425.92 million in 3Q17, with PBT increasing by 17.62% to RM63.07 million in the current quarter as compared with RM53.62 million from a year ago. The improved performance was achieved on the back of continued strong demand for the Group’s glove products, with higher average selling prices (+11.5%) and higher volume sold (+11.9%) as compared with the preceding year period. In the period under review, natural rubber prices declined (-23.67%).

The TRPs division’s revenue of RM46.13 million was 21.60% higher as compared with RM37.93 million in 3Q17, while PBT soared 89.48% to RM6.88 million in the current quarter compared to RM3.63 million in the previous year corresponding quarter. The improved performance was mainly attributable to increased sales deliveries and sales of higher margin products. The Cleanroom division recorded revenue and PBT of RM21.03 million and RM0.92 million respectively in 3Q18, as compared with RM24.80 million and RM0.79 million in 3Q17.

3Q18 vs 2Q18:
On a quarter-on-quarter basis, Group recorded its highest quarterly revenue of RM573.90 million in 3Q18, an increase of 15.52% as compared with RM496.79 million in 2Q18, while PBT surged 29.00% to RM70.83 million in the current quarter from RM54.90 million in the immediate preceding quarter. The improved performance was mainly attributable to the improved performance in the Gloves division.

The Gloves division’s revenue surpassed the half-a-billion ringgit mark to RM505.78 million in 3Q18, an increase of 16.98% from RM432.36 million in 2Q18. PBT surged 36.11% to RM63.07 million compared with RM46.34 million in the immediate preceding quarter. The improved performance was mainly attributable to the continued strong demand for the Group’s glove products with higher volume sold (+7.71%) arising from the new capacity coming onstream as well as existing plants running at full capacity, improved average selling prices (+1.8%), increased manufacturing and production efficiency and effective cost controls. Plant 16 (P16) which is capable of producing up to 3 billion pieces of gloves per annum and which has been fully commissioned in August 2018, has started contributing positively to the Group’s performance in the current quarter.

The TRPs division recorded revenue of RM46.13 million in the current quarter, an increase of 3.57% as compared with the RM44.54 million recorded in 2Q18, while PBT decreased to RM6.88 million compared with RM8.11 million in the immediate preceding quarter. The Cleanroom division recorded revenue and PBT of RM21.03 million and RM0.92 million respectively in 3Q18 as compared with RM19.30 million and RM1.13 million in 2Q18.

Prospects:
The glove industry’s prospects remain strong with continued growth in the demand for the Group’s glove products. Plant 17 (P17) which is capable of producing up to 1.5 billion pieces of gloves per annum has been fully commissioned in November 2018 and is expected to contribute positively to the Group’s performance in the coming quarter.

Construction works for Plant 18 (2.5 billion pieces) and Plant 19 (3 billion pieces) are currently on-track, with expected full commissioning by the 2nd quarter of 2019 and 4th quarter of 2019 respectively. Thereafter, the next phase of the Group’s expansion programme will be focused on Bidor, Perak, following the purchase of the 824-acre land for RM87.4 million in March 2018. This piece of land is intended to accommodate the Group’s expansion in a centralised location (i.e. an integrated glove manufacturing facility) over the medium and longer term. The Group expects the expansion, which is currently in the planning stage, to commence in 2020 and to take eight years to complete. The additional capacity which will come on-stream progressively, is projected to add a total additional output of 45 billion pieces of gloves per annum upon completion. The land’s strategic location with excellent connectivity and readily available sources of utilities (natural gas, electricity and water) and local manpower will facilitate the Group’s longer-term expansion programme.

For the Technical Rubber Products division, the Group views this division as stable and is optimistic of the performance for the 2018 year. With the Group’s expansion plans and new capacity coming on-stream, coupled with the continued strong demand for their gloves, ongoing transformation program and improvements in operating efficiency, Management is confident of achieving an improved performance in the final quarter of 2018.
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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 RM0.85 in 3 months 3 day, total return is 18.9%

2) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.16 in 1 month 5 days, total return is 14.3%

3) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.905 in 4 months 18 days, total return is 13.8%

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/

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James Ng