[UEM EDGENTA BHD：工作量减少]

3Q18 vs 2Q18:
UEM前线本季度的收入为5.283亿令吉，较上一季度的5.461亿令吉低1780万令吉或3.3％，原因如下：

•物业和设施解决方案（“PFS”）部门的收入减少了1,470万令吉，主要是由于上一季度能源业绩承包项目的一次性安装收入，此后这些项目仅贡献经常性维护收入。

•基础设施服务（“IS”）部门的收入减少了1220万令吉，主要原因是高速公路路面和土建工程的工作量减少。

•咨询部门的收入减少了820万令吉，主要原因是东马项目的咨询工作进展缓慢。

•房地产开发（“PD”）部门的销售收入减少，因为卖出的量较少。

UEM前线于本季度录得税前利润（「PBT」）为2,510万令吉，较上一季度的4,770万令吉减少2260万令吉或47.4%，原因如下：

•PFS部门的PBT低了470万令吉，同时收入减少。

•由于收入减少，IS部门的PBT低了750万令吉。

•由于收入减少，咨询部门的PBT低了760万令吉。

•尽管收入增加，但HS部门的PBT低了80万令吉，主要是由于联营公司​​业绩较低，加上非特许经营业务竞争激烈及营运成本增加导致利润率下降。

3Q18 vs 3Q17 and YTD18 vs YTD17:
咨询部门年初至今收入减少1,460万令吉，主要是由于轻轨扩建工程完成后本期间的咨询工作量较低。

UEM前线目前的季度PBT为2,510万令吉，较去年同期的3,210万令吉低700万令吉。相反，UEM前线九个月期间的PBT较高为1.153亿令吉，较去年同期的9,750万令吉增加1,780万令吉。 PD部门受益于去年同期收到的补偿，导致PBT降低400万令吉。

前景：
在截至2018年9月30日的九个月期间，相比2017年期间，UEM Edgenta Berhad（“UEMEd”或“公司”）的税前利润（“PBT”）增长18.3％至1.153亿令吉，因为收入增长6.0％至15.353亿令吉。

（i）咨询：
公司预计在本财政年度的剩余时间内维持其利润率。

（ii）医疗服务：
公司将通过增加技术和机械化，交叉销售以及在特许经营和商业业务之间维持最佳表现来保护其市场份额并提高利润率。

（iii）基础设施服务：
一项关键举措是将UEMEd当前的交付模式从基于投入/资源的合同模型转变为基于结果的模型，公司正在2018年下半年实施其“基于绩效的合同”的第一阶段（“PBC”）。

（iv）物业和设施解决方案：
在截至2018年的财政年度的剩余期间，公司将专注于关闭目前正在寻求的所有机会，并致力于提高其利润率。
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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 RM1.09 in 1 month 5 days, total return is 36.3%

b) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM1.02 in 20 days, total return is 20%

c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.94 in 6 months 16 days, total return is 18.2%

d) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.18 (dividend RM0.0375) in 3 months 3 days, total return is 17.3%

e) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.10 in 25 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。

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[UEM EDGENTA BHD: less volume of work done]

3Q18 vs 2Q18:
The Group’s revenue for the current quarter of RM528.3 million was RM17.8 million or 3.3% lower than the immediate preceding quarter’s RM546.1 million due to the following:

• Property and Facility Solutions (“PFS”) Division recorded lower revenue by RM14.7 million mainly due to one-off installation revenue from energy performance contracting projects in the immediate preceding quarter, thereafter these projects only contribute recurring maintenance revenue.

• Infra Services (“IS”) Division recorded lower revenue by RM12.2 million mainly due to less volume of work done for pavement and civil works for expressways.

• Consultancy Division recorded lower revenue by RM8.2 million mainly due to slower progress for consultancy work for East Malaysia project.

• Property Development (“PD”) Division recorded lower revenue from fewer units sold.

The Group recorded profit before tax (“PBT”) of RM25.1 million for the current quarter which decreased RM22.6 or 47.4% million as compared to RM47.7 million in the preceding quarter due to the following:

• PFS division recorded lower PBT by RM4.7 million in line with lower revenue.

• IS Division recorded lower PBT by RM7.5 million in line with lower revenue.

• Consultancy Division recorded lower PBT by RM7.6 million resulting from the lower revenue.

• HS Division recorded lower PBT by RM0.8 million despite increased revenue mainly due to lower share of results from associates, coupled by weaker margins due to stiff competition in its non-concession business and increasing operating costs.

3Q18 vs 3Q17 and YTD18 vs YTD17:
Consultancy Division recorded lower year-to-date revenue by RM14.6 million, mainly due to lower consultancy works done in the current period after the completion of LRT extension project.

The Group’s current quarter PBT of RM25.1 million was lower by RM7.0 million as compared to RM32.1 million in the corresponding quarter last year. Conversely, the Group recorded higher PBT of RM115.3 million for the nine-month period, with an increase of RM17.8 million compared to RM97.5 million in the corresponding period last year. PD Division benefited from compensation received in the corresponding period last year resulting in lower PBT by RM4.0 million.

Prospects:
For the nine-month period up to 30 September 2018, UEM Edgenta Berhad (“UEMEd” or the “Company”) recorded growth of 18.3% in its profit before tax (“PBT”) to RM115.3 million as compared to the same period in 2017, on the back of growth in revenue of 6.0% to RM1,535.3 million.

(i) Consultancy:
The Company expects to sustain its profit margin for the remainder of the current financial year.

(ii) Healthcare Services:
The Company will protect its market share and improve margins via an increased use of technology and mechanisation, cross-selling and sharing of best practices between its concession and commercial businesses.

(iii) Infra Services:
One key initiative is the transformation of UEMEd’s current delivery model from an input/resource-based contracting model into an outcome-based model, and the Company is in the midst of implementing the first phase of its “Performance-Based Contracting” (“PBC”) in the second half of 2018.

(iv) Property and Facility Solutions:
For the remaining period of the financial year ending 2018, the Company will be focused on closing all opportunities it is currently pursuing and work on improving its margin.
------------------------------------------------
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 RM1.09 in 1 month 5 days, total return is 36.3%

b) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM1.02 in 20 days, total return is 20%

c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.94 in 6 months 16 days, total return is 18.2%

d) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.18 (dividend RM0.0375) in 3 months 3 days, total return is 17.3%

e) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.10 in 25 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