[GENTING PLANTATIONS BHD：2019年的FFB产量预计将进一步上升，因其印度尼西亚业务的产量将增加，这得益于其他面积的成熟和更好的树龄]

物业部门的销售额下降导致收入下降。另一方面，由于生物柴油和炼油厂业务的销售额增加，下游制造业务的收入略有改善，这抵销了较为疲软的销售价格。

由于下游制造业务部门对生物柴油及炼油产品的采购量增加，以及物业部门的工程逐步完成，云顶种植2018年全年（「2018财年」）的收入同比均有所改善。然而，种植业部门的收入同比下降，因为较软的棕榈产品销售价格的影响超过了较高的FFB产量。

2018年第四季度和2018财年的FFB产量分别同比增长15％和11％，这主要得益于其成熟地区增长和更好的树龄带来的印度尼西亚业务增长，而马来西亚业务的产量下降（由于前两年恶劣天气条件的延迟影响，以及成熟区域因重新种植活动而减少）。

反映较弱的棕榈产品销售价格，2018年第四季度和2018财年种植业部门的EBITDA同比下降。 2018年第四季度和2018财年房地产部门的EBITDA同比上涨，原因是工程逐步完工和利润率提高。由于其研发活动，生物技术部门的亏损扩大。 2018年第四季度和2018财年，下游制造业务的EBITDA同比下降，因为较低的销售价格压缩了利润率。

2018年第四季度的税前利润低于上一季度，主要是由于较低的销售额导致物业部门的贡献减少以及折旧和摊销以及融资成本增加主要是由于云顶种植种植业务的成熟面积增加所致。

前景：
该集团2019年的FFB产量预计将进一步上升，因其印度尼西亚业务的产量将增加，这得益于其他面积的成熟和更好的树龄。就物业部门而言，云顶种植将继续专注于迎合更广阔市场的住宅产品。 Premium Outlets预计将于2019年继续保持良好表现，受益于Johor Premium Outlets®第三期的全年贡献（于2018年11月开始运营）。

生物技术部门将继续努力开发商业解决方案和应用，以提高油棕的产量和生产力。为运输部门实施强制性B10生物柴油，为工业部门实施B7生物柴油，预计将在2019年支撑本地对云顶种植生物柴油业务的需求，同时对棕榈油和瓦斯油的价差支持对可自由支配的生物柴油混合的需求。云顶种植的炼油业务将继续专注于改善其市场份额。
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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 RM1.38 in 3 months 20 days, total return is 72.5%

b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.29 in 9 months 4 day, total return is 62.3%

c) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM1.14 (dividend RM0.015) in 7 months 24 days, total return is 61.5%

d) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.86 in 2 months 16 days, total return is 49.6%

e) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.41 (dividend RM0.0825) in 5 months 22 days, total return is 31.9%

f) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.26 in 3 months 13 days, total return is 30.6%

g) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.67 (dividends RM0.02) in 6 months 5 days, total return is 18.2%

h) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.98 in 3 months 5 days, total return is 15.3%

i) HSSEB (HSS ENGINEERS BHD), recommended on 20 Jan 19, initial price was RM1.04, rose to RM1.19 in 2 months 16 days, total return is 14.4%

j) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.39 (dividend RM0.035) in 4 months 18 days, total return is 12.2%

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：AG Hotel Penang, George Town (包括免费3份点心，茶和咖啡)

日期：4月28日星期日
地点：Silka Johor Bahru Hotel, Johor Bahru (包括免费点心，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/2229034960696579 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

请大家来Follow James的Instagram，获取最新的资讯： https://www.instagram.com/p/Bv8X_tkg9Ou

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
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[GENTING PLANTATIONS BHD: FFB production for 2019 is expected to see further upward trajectory on prospects of higher crop output from its Indonesia operations, bolstered by additional areas coming into maturity and better age profile]

The Property segment registered a decline in revenue from lower sales. On the other hand, the Downstream Manufacturing segment registered a marginal improvement in revenue on the back of higher offtake from both its biodiesel and refinery operations, which more than offset the softer selling prices.

The Group’s revenue for the full year of 2018 (“FY 2018”) improved year-on-year, on account of the higher offtake of biodiesel and refinery products from the Downstream Manufacturing segment along with progressive completion of works by the Property segment. However, the Plantation segment posted lower year-on-year revenue as the effect of the softer palm products selling prices outstripped the higher FFB output.

Group FFB production in 4Q 2018 and FY 2018 improved by 15% and 11% year-on-year respectively, underpinned by the growth from its Indonesia operations from an increase in mature areas and better age profile, while production from its Malaysia operations dropped due to the delayed effects of adverse weather conditions in the preceding two years along with a decline in mature areas from replanting activities.

Reflective of the weaker palm products selling prices, EBITDA for the Plantation segment for 4Q 2018 and FY 2018 were lower year-on-year. EBITDA for the Property segment for 4Q 2018 and FY 2018 were higher year-on-year, on the back of progressive completion of works and improved profit margins. The Biotechnology segment’s losses widened, in line with its research and development activities. The Downstream Manufacturing segment’s EBITDA was lower year-on-year for both 4Q 2018 and FY 2018 as the weaker selling prices compressed profit margins.

Pre-tax profit for 4Q 2018 was lower than the immediate preceding quarter mainly due to lower contribution from the Property segment from lower sales along with higher depreciation and amortisation and finance cost mainly arising from an increase in matured areas in the Group’s plantation operations.

Prospects:
The Group’s FFB production for 2019 is expected to see further upward trajectory on prospects of higher crop output from its Indonesia operations, bolstered by additional areas coming into maturity and better age profile. For the Property segment, the Group will continue to focus on residential offerings which cater to the broader market. The Premium Outlets is expected to continue performing well in 2019 with the full year contribution from the third phase of the Johor Premium Outlets®, which commenced operations in November 2018.

The Biotechnology segment will continue its efforts on developing commercial solutions and applications to enhance the yield and productivity of oil palm. The implementation of the mandatory B10 biodiesel for the transportation sector and B7 biodiesel for the industrial sector is expected to shore up local demand for the Group’s biodiesel operations in 2019 while offtake for discretionary biodiesel blending is underpinned by the viability of the palm oil gas oil spread. The Group’s refinery operations will continue to focus on improving its market reach and offtake.
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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 RM1.38 in 3 months 20 days, total return is 72.5%

b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.29 in 9 months 4 day, total return is 62.3%

c) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM1.14 (dividend RM0.015) in 7 months 24 days, total return is 61.5%

d) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.86 in 2 months 16 days, total return is 49.6%

e) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.41 (dividend RM0.0825) in 5 months 22 days, total return is 31.9%

f) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.26 in 3 months 13 days, total return is 30.6%

g) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.67 (dividends RM0.02) in 6 months 5 days, total return is 18.2%

h) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.98 in 3 months 5 days, total return is 15.3%

i) HSSEB (HSS ENGINEERS BHD), recommended on 20 Jan 19, initial price was RM1.04, rose to RM1.19 in 2 months 16 days, total return is 14.4%

j) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.39 (dividend RM0.035) in 4 months 18 days, total return is 12.2%

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/2229034960696579 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