[ECONPILE HOLDINGS BHD：延迟及闲置成本导致的约1,850万令吉亏损，房地产开发项目超支约1540万令吉，应收贸易账款减值1510万令吉]

来自物业发展项目的打桩及地基工程的收入贡献继续主导这集团的收入，金额为2.579亿令吉或74.0％（18财年上半年--2.612亿令吉或78.9％），其余收入来自打桩及基础设施和其他部门的基础工作，金额为9060万令吉或26.0％（1HFY18--6990万令吉或21.1％）。截至2018年12月31日止的本财政期间，毛利率和税前利润/（亏损）分别为1.4％（18财年上半年 - 20.4％）和（5.5％）（2018财年上半年 - 18.0％）。

虽然本财政期间六（6）个月的收入与去年同期相比略有增加，但这集团的表现受以下因素影响：（1）由延迟及闲置成本导致的约1,850万令吉亏损（两个基础设施项目由于总体项目合理化成本和主要承包商的设计和/或工作范围变化引起）; （2）房地产开发项目超支约1540万令吉。由于有担保债权人于二零一八年十一月向特定债务人委任收款人及经理人，这集团的除税前亏损亦受到应收贸易账款减值1510万令吉的影响。包括于本财政期间的其他收入是设备租金收入和卖掉机器收益金额为170万令吉，而去年同期为640万令吉。

截至二零一八年十二月三十一日止的第二季度，这集团录得的收入低了5210万令吉至1.482亿令吉，而截至2018年9月30日止的上一个季度是2.003亿令吉。截至2018年12月31日止的本季度，来自物业发展的打桩及基础工程的收入分别为1.058亿令吉和4240万令吉，而截至2018年9月30日止的前一季度分别为1.521亿令吉和4,820万令吉。

截至2018年12月31日止本季度的毛损（与截至2018年9月30日止的上一季度相比），主要是由于（1）由两（2）个基础设施项目造成的延误和闲置成本造成的约1,850万令吉亏损，和整体项目合理化成本以及主要承包商的设计和/或工作范围的变化; （2）房地产开发项目超支约1540万令吉。由于有担保债权人于二零一八年十一月委任特定债务人的接管人及管理人，因此本季度的除税前亏损亦受到应收贸易账款减值1510万令吉的影响。

前景：
Econpile预计建筑业的前景将在2019财年保持正面。
---------------------------------------------------------------
James Ng Stock Pick Performance:
Since Recommended Return:

a) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.22 in 7 months 26 days, total return is 53.5%

b) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.12 in 2 months 9 days, total return is 40%

c) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.28 in 2 months 3 days, total return is 32.6%

d) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.925 (dividend RM0.007) in 6 months 13 days, total return is 30.3%

e) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.20 (dividend RM0.0375) in 4 months 11 day, total return is 18.4%

f) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.985 in 1 month 28 day, total return is 15.9%

g) HSL (HOCK SENG LEE BHD), recommended on 1 Jul 18, initial price was RM1.40, rose to RM1.58 (dividend RM0.01) in 7 months 24 days, total return is 13.6%

h) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.34 (dividend RM0.035) in 3 months 7 days, total return is 8.3%

i) FIAMMA (FIAMMA HOLDINGS BHD), recommended on 23 Sep 18, initial price was RM0.495, rose to RM0.53 in 5 months 3 days, total return is 7.1%

j) HSSEB (HSS ENGINEERS BHD), recommended on 20 Jan 19, initial price was RM1.04, rose to RM1.10 in 1 month 6 days, total return is 5.8%

k) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.605 in 1 month 6 days, total return is 5.2%

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：4月21日星期日
地点：G Inn Hotel, George Town (Penang)

日期：4月28日星期日
地点：Tropical Inn, Johor Bahru (包括免费2份点心，茶和咖啡)

日期：5月26日星期日
地点：Hotel Sri Petaling, KL (包括免费3份点心，茶和咖啡)

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://web.facebook.com/jamesshareinvest/posts/2201547333445342 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

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

这个是我的TELEGRAM Group链接，大家可以在这个Group获知何时做Fb live: https://t.me/joinchat/LhwHNhdU1fDgxrSafTrTiw

这个分享纯属讨论以及领域的分析，买或卖自负。请Like和Share这个post。最终决定永远是你的，谢谢。

James Ng
-------------------------------------
[ECONPILE HOLDINGS BHD: approximately RM18.5 million losses caused by the delay and idling costs from 2 infrastructure projects, approximately RM15.4 million costs over-run in a property development project, an impairment of trade receivable amounting RM15.1 million]

Revenue contribution from piling and foundation works from property development projects continue to dominate the Group's revenue, amounting to RM257.9 million or 74.0% (1HFY18 - RM261.2 million or 78.9%) and the remaining revenue derived from piling and foundation works from infrastructure and other segments amounting to RM90.6 million or 26.0% (1HFY18 - RM69.9 million or 21.1%). Gross profit margin and profit/(loss) before tax margin stood at 1.4% (1HFY18 - 20.4%) and (5.5%) (1HFY18 - 18.0%) respectively, for the current financial period ended 31 December 2018.

Whilst there is a slight increase in revenue for the six (6) months current financial period as compared to preceding year corresponding period, the Group's performance was affected by, (1) approximately RM18.5 million losses caused by the delay and idling costs from two (2) infrastructure projects caused by overall project rationalisation of costs and changes in design and/or scope of work by main contractors; and (2) approximately RM15.4 million costs over-run in a property development project. The Group's loss before taxation is also affected by an impairment of trade receivable amounting RM15.1 million as a result of the appointment of Receiver and Manager by a secured creditor against the particular debtor in November 2018. Included in Other Income during the current financial period is rental income of equipments and gain from disposal of machineries amounting to RM1.7 million as compared to RM6.4 million in the preceding year corresponding period.

In the current second quarter ended 31 December 2018, the Group recorded a lower revenue of RM52.1 million to RM148.2 million from RM200.3 million in the most recent preceeding quarter ended 30 September 2018. The piling and foundation works from property development projects and infrastructure projects during the current quarter ended 31 December 2018, amounted to RM105.8 million and RM42.4 million respectively, as compared to RM152.1 million and RM48.2 million respectively, in the preceeding quarter ended 30 September 2018.

The gross loss for the current quarter ended 31 December 2018 compared to the preceding quarter ended 30 September 2018 was due mainly to, (1) approximately RM18.5 million losses caused by the delay and idling costs from two (2) infrastructure projects caused by overall project rationalisation of costs and changes in design and/or scope of work by main contractors; and (2) approximately RM15.4 million costs over-run in a property development project. The loss before taxation for the current quarter is also affected by an impairment of trade receivable amounting RM15.1 million as a result of the appointment of Receiver and Manager by a secured creditor against the particular debtor in November 2018.

Prospects:
Econpile anticipates the construction sector's outlook to remain positive for FY2019.
--------------------------------------------------------------------------
James Ng Stock Pick Performance:
Since Recommended Return:

a) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.22 in 7 months 26 days, total return is 53.5%

b) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.12 in 2 months 9 days, total return is 40%

c) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.28 in 2 months 3 days, total return is 32.6%

d) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.925 (dividend RM0.007) in 6 months 13 days, total return is 30.3%

e) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.20 (dividend RM0.0375) in 4 months 11 day, total return is 18.4%

f) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.985 in 1 month 28 day, total return is 15.9%

g) HSL (HOCK SENG LEE BHD), recommended on 1 Jul 18, initial price was RM1.40, rose to RM1.58 (dividend RM0.01) in 7 months 24 days, total return is 13.6%

h) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.34 (dividend RM0.035) in 3 months 7 days, total return is 8.3%

i) FIAMMA (FIAMMA HOLDINGS BHD), recommended on 23 Sep 18, initial price was RM0.495, rose to RM0.53 in 5 months 3 days, total return is 7.1%

j) HSSEB (HSS ENGINEERS BHD), recommended on 20 Jan 19, initial price was RM1.04, rose to RM1.10 in 1 month 6 days, total return is 5.8%

k) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.605 in 1 month 6 days, total return is 5.2%

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://web.facebook.com/jamesshareinvest/posts/2201547333445342 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

This sharing is purely a discussion and analysis of the sector, buying or selling at your own risk. Please Like and Share this post. Final decision is always yours, thank you.

James Ng