[MALAKOFF CORP BHD：Tanjung Bin Energy Sdn. Bhd. (“TBE”)的能源和支付能力下降]

3Q18 vs 3Q17:
由于工厂停运，造成Tanjung Bin Energy Sdn. Bhd. (“TBE”)的能源和支付能力下降，部分抵消了收入的增长。这集团的税前利润为1.654亿令吉，较截至2017年9月30日止的相应季度报告的2亿1,290万令吉减少22.3％，主要归因于2017年相应的季度与IHI就TBP的锅炉故障解决争议而收取的赔偿金和这季由于工厂停运，TBE的贡献减少。

YTD18 vs YTD17：
由于延长的购电协议下的关税减少，SEV的产能支付能力下降，部分抵消了收入的增加。这集团录得税前利润为4.027亿令吉，较去年同期报告的5亿4,060万令吉减少25.5％，主要原因是由于延长的购电协议下的关税减少，SEV的产能支付较低，在TBP和TBE燃煤电厂记录的燃料利润率较低，来自联营投资公司的贡献减少，以及在去年TBP从IHI解决与TBP锅炉故障相关的争议中收到的补偿金。

3Q18 vs 2Q18：
较高的税前利润部分被TBE的贡献减少以及运营和维护成本提高所抵消。

前景：
马来西亚2019年预算显示财政整顿与增长之间的平衡，这预示着国内需求的持续增长。最近，马拉科夫与Concord Alliance Sdn. Bhd.签署了一项联合开发协议（JDA）来探索和开发生物气动力发电项目。这符合马拉科夫扩大可再生能源部门的战略，并有助于实现政府的目标，即到2025年将马来西亚的可再生能源产能提高到20％。收购Alam Flora Sdn. Bhd.已于2018年10月2日获得Malakoff股东的批准，但仍有待完成某些先决条件。
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James Ng Stock Pick Performance:
Since Recommended Return:

a) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.08 in 1 month 4 days, total return is 35%

b) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.17 (dividend RM0.0375) in 2 months 30 days, total return is 16.8%

c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.92 in 6 months 15 days, total return is 15.7%

d) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.97 in 19 days, total return is 14.1%

e) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.10 in 24 days, total return is 14%

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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[MALAKOFF CORP BHD: lower energy and capacity payment at Tanjung Bin Energy Sdn. Bhd. (“TBE”)]

3Q18 vs 3Q17:
The increase in revenue was partially offset by lower energy and capacity payment at Tanjung Bin Energy Sdn. Bhd. (“TBE”) due to plant outage. The Group recorded profit before taxation of RM165.4 million, a 22.3% decrease from RM212.9 million reported in corresponding quarter ended 30 September 2017, primarily attributed to the compensation payment received from settlement of dispute with IHI over TBP’s boiler failure recorded in the corresponding quarter of 2017 and lower contribution from TBE due to the plant outage.

YTD18 vs YTD17:
The increase in revenue was partially offset by SEV’s lower capacity payment given the reduction in tariff under the extended PPA. The Group recorded profit before taxation of RM402.7 million, a 25.5% decrease from RM540.6 million reported in corresponding period of the preceding year, primarily attributed to lower capacity payment recorded by SEV given the reduction in tariff under the extended PPA, lower fuel margin recorded at TBP and TBE coal plants, lower contributions from associates investments as well as TBP’s compensation payment received from settlement of dispute with IHI over TBP’s boiler failure recorded in the corresponding period.

3Q18 vs 2Q18:
Higher profit before tax was partially offset by lower contribution from TBE and higher operation and maintenance costs.

Prospects:
Malaysia’s Budget 2019 indicates a balancing of fiscal consolidation and growth which augurs well for sustained domestic demand. Recently, Malakoff signed a Joint-Development Agreement (JDA) with Concord Alliance Sdn. Bhd. to explore and develop biogass-powered power generation projects. This is in line with Malakoff’s strategy to expand the RE segment and contribute towards meeting the Government’s target to increase Malaysia’s RE capacity to 20% by 2025. The acquisition of Alam Flora Sdn. Bhd. had been approved by Malakoff shareholders on 2 October 2018 but it is still subject to completion of certain conditions precedent.
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James Ng Stock Pick Performance:
Since Recommended Return:

a) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.08 in 1 month 4 days, total return is 35%

b) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.17 (dividend RM0.0375) in 2 months 30 days, total return is 16.8%

c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.92 in 6 months 15 days, total return is 15.7%

d) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.97 in 19 days, total return is 14.1%

e) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.10 in 24 days, total return is 14%

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