[GEORGE KENT MALAYSIA BHD：预计2019年下半年将恢复建设LRT 3]

工程：
截至2018年10月31日止的本季度收入为6,513万令吉，较2017年同季的8,214万令吉下降21％。截至2018年10月31日止的本季度部门溢利为2,483万令吉，与2017年同期的3,215万令吉相比，低了23％。较低的部门利润主要来自较低的收入。建筑业占工程部门收入的92％和部门利润的91％。

截至二零一八年十月三十一日止期间的收入为2.1803亿令吉，较2017年同期的3.2497亿令吉减少33％，原因是2017年完成了几个项目。此外，未确认Light Rail Transit Line 3 (LRT 3)项目的收入，这项目是基于权益核算的50％权益。由于收入减少，截至2018年十月三十一日止期间的部门溢利为7510万令吉，较截至二零一七年十月三十一日止期间的8050万令吉低7％。

水表：
截至2018年10月31日止的本季度收入为3,841万令吉，较2017年同季的4,495万令吉下降15％。截至2018年10月31日止的本季度部门利润为1,019万令吉，由于销售额下降，较去年下降13％，2017年同季度为1,166万令吉。

截至2018年10月31日止期间的收入为9,821万令吉，较2017年同期的1.1911亿令吉减少18％。截至2018年10月31日止期间的部门利润为2278万令吉，较去年同期减少26％，2017年同期为3,071万令吉，主要是由于本期销售额和毛利率较低所致。

乔治肯特本季度税前利润为3469万令吉（2017年10月31日：3,670万令吉），下降5％。税前利润较低主要归因于工程部门的贡献较低。截至2018年10月31日止期间，乔治肯特的税前利润为9026万令吉（2017年10月31日：9,476万令吉），下降5％。税前利润下降主要归因于他们许多营运单位的贡献减少。

由于水表部门的利润增加，截至2018年10月31日的当前季度的税前利润比上一季度高16％。

前景：
考虑到重新谈判的LRT 3项目时的贡献，本季度的财务仍然可信。预计2019年下半年将恢复建设。集团将拨出大量资源进一步扩大计量业务，这是一个主要的利润贡献者，出口到全球40多个国家。
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BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.20 in 2 months 6 days, total return is 16.4%

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[GEORGE KENT MALAYSIA BHD: construction of LRT 3 is expected to resume in the latter part of 2019]

Engineering:
Revenue of RM65.13 million for the current quarter ended 31 October 2018 was 21% lower as compared to RM82.14 million for the corresponding quarter in 2017. Segment profit of RM24.83 million for the current quarter ended 31 October 2018 was 23% lower as compared to RM32.15 million for the corresponding quarter in 2017. The lower segment profit was mainly contributed by the lower revenue. Construction accounts for 92% of the revenue and 91% of segment profit of the Engineering Division.

Revenue of RM218.03 million for the period ended 31 October 2018 was 33% lower as compared to RM324.97 million for the corresponding period in 2017 attributed to the completion of a few projects in 2017. Furthermore, revenue was not recognised for the Light Rail Transit Line 3 (LRT 3) project, which is based on equity accounting for the 50% interest in the project. Segment profit of RM75.1 million for the period ended 31 October 2018 was 7% lower as compared to RM80.50 million for the period ended 31 October 2017 due to lower revenue.

Metering:
Revenue of RM38.41 million for the current quarter ended 31 October 2018 was 15% lower compared to RM44.95 million for the corresponding quarter in 2017. Segment profit of RM10.19 million for the current quarter ended 31 October 2018 was 13% lower as compared to RM11.66 million for the corresponding quarter in 2017, due to lower sales.

Revenue of RM98.21 million for the period ended 31 October 2018 was 18% lower compared to RM119.11 million for the corresponding period in 2017. Segment profit of RM22.78 million for the period ended 31 October 2018 was 26% lower as compared to RM30.71 million for the corresponding period in 2017 mainly due to the lower sales and gross profit margin in the current period.

The Group's current quarter profit before tax of RM34.69 million (31 October 2017: RM36.70 million) was 5% lower. The lower profit before tax reported was mainly attributed to lower contribution from the Engineering division. The Group's profit before tax for the period ended 31 October 2018 of RM90.26 million (31 October 2017: RM94.76 million) was 5% lower. The lower profit before tax reported was mainly attributed to lower contribution from many of their operating units.

The profit before taxation for the current quarter ended 31 October 2018 is 16% higher than the preceding quarter due to higher profit contributed by the Metering division.

Prospects:
The results for the quarter under review continue to be credible, taking into account the nominal contribution from LRT 3 as the project is being renegotiated. Construction is expected to resume in the latter part of 2019. The Group will allocate substantial resources to further expand the Metering business, which is a key profit contributor with exports reaching over 40 countries worldwide.
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James Ng Stock Pick Performance:
Since Recommended Return:

BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.20 in 2 months 6 days, total return is 16.4%

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.

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