[ANN JOO RESOURCES BHD：基础设施和房地产板块的国内钢材需求依然疲软，年终季风期影响正在进行的建筑活动的工作进度，市场干扰目前正在抑制出口市场的钢材价格]

与2017年第三季度相比，2018年第三季度的收入减少主要是由于市场需求疲软导致销量下降。3Q2018以及9M2018的盈利能力下降主要归因于i）销售量下降，ii）废金属，炼焦煤和铁矿石成本上升引发的利润率下降，以及iii）马来西亚令吉（“MYR”）兑美元疲软导致的净外汇损失。

由于出口吨位增加，3Q2018的收入增加。然而，销售价格在3Q2018较低。

前景：
基础设施和房地产板块的国内钢材需求依然疲软。此外，年终季风期影响正在进行的建筑活动的工作进度。全球钢铁行业继续受到全球持续贸易摩擦的不利影响，尤其是美国对各国施加的钢铁关税的影响。

这种市场干扰目前正在抑制出口市场的钢材价格，进而影响安裕资源出口的盈利能力。虽然由于各国政策措施不断变化，全球市场状况依然不明朗，但由于特定的大型基础设施，铁路项目和高影响力的发展项目，和2019年下半年钢铁需求可能回暖，因此国内钢铁行业可能会看到2019年上半年的需求触底。考虑到超出集团控制范围的具挑战性的行业动态，集团今年剩余时间的表现在很大程度上取决于国内和出口市场钢材的价格趋势。
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James Ng Stock Pick Performance:
Since Recommended Return:

a) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.12 in 8 days, total return is 16.1%

b) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.15 (dividend RM0.0375) in 2 months 14 days, total return is 15.7%

c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.875 in 5 months 30 days, total return is 10.1%

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：1月27日星期日
地点：Tropical Inn, Johor Bahru (包括茶点)

日期：2月24日星期日
地点：Hotel Sri Petaling, KL (包括茶点)

日期：3月3日星期日
地点：G Inn 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
电话/Whatsapp : 011 - 15852043

为了方便大家查询我写过的公司和选股文章以及视频，制作了索引。大家只要依照日期，就能从这 https://klse.i3investor.com/blogs/general/187841.jsp 找到公司和选股文章以及视频。

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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James Ng
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[ANN JOO RESOURCES BHD: domestic steel demand from both infrastructure and property segments remain soft, year-end monsoon periods affect the work progress of ongoing construction activity, market disruption is currently depressing steel prices in export markets]

Lower revenue in the third quarter of 2018 (“3Q2018”) compared to the third quarter of 2017 (“3Q2017”) was mainly due to lower tonnage sold amidst soft market demand. Lower profitability in 3Q2018 and also 9M2018 was mainly attributable to i) lower tonnage sold, ii) margin erosion triggered by rising cost of scrap metal, coking coal and iron ore, and iii) net forex loss on weakened Malaysian Ringgit (“MYR”) against United States Dollar (“USD”).

Higher revenue in 3Q2018 was due to higher export tonnage sold. Selling prices were, however, lower in 3Q2018.

Prospects:
Domestic steel demand from both infrastructure and property segments remain soft. Furthermore, year-end monsoon periods affect the work progress of ongoing construction activity. The global steel industry continues to be negatively affected by ongoing trade frictions around the world and in particular, the impact of steel tariffs imposed on various countries by United States.

This market disruption is currently depressing steel prices in export markets, which in turn, affects the profitability of the Group’s exports. While global market conditions remain uncertain given evolving policy measures by various countries, the domestic steel industry could see a bottoming of demand in the first half of 2019 as the pace of steel demand may pick up in the second half of 2019 for selected large infrastructure and railway projects and high-impact development projects. Taking into consideration the challenging industry dynamics which are beyond the Group’s control, the Group’s performance for the remainder of the year is heavily dependent on the price trend of steel products in both domestic and export markets.
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James Ng Stock Pick Performance:
Since Recommended Return:

a) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.12 in 8 days, total return is 16.1%

b) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.15 (dividend RM0.0375) in 2 months 14 days, total return is 15.7%

c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.875 in 5 months 30 days, total return is 10.1%

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/187841.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

Facebook Group: https://www.facebook.com/groups/jamesinvesting

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.

Please Like and Share this post. Final decision is always yours, thank you.

James Ng