[TSH RESOURCES BHD：由于树龄较好且种植面积较多，陈顺风预计其本年度FFB产量将较上年进一步改善，毛棕榈油价格也开始上涨，如果价格恢复能够持续，预计2019年的核心盈利表现也会有所改善]

2018年第四季度和12M 2018的税前利润分别从去年同期的4760万令吉和1.726亿令吉减少至1,150万令吉和8,130万令吉，主要原因是核心利润减少。

棕榈产品：
尽管FFB产量较高，但由于平均毛棕榈油价格较低，12M 2018的部门利润为1.22亿令吉，低于去年的1.959亿令吉。至于FFB产量，陈顺风分别于2018年第四季度及12M 2018实现205,875吨及857,802吨，分别较去年同期的172,859吨及710,105吨增长19％及21％。

其他：
该部门2018年第四季度和12M 2018的收入分别增加到3790万令吉和1.368亿令吉，而去年同期则分别为3470万令吉和1.273亿令吉。本季度收入增加主要是由于可可产品收入增加。

2018年第四季度和12M 2018的营业利润分别为880万令吉和2970万令吉，高于去年同期的亏损530万令吉和利润640万令吉，主要是由于可可产品销售额增加和更好的可可产品价格。

由于FFB产量从250,204吨减少至205,875吨（下降18％），CPO价格从RM2036跌至RM1,780，陈顺风2018年第四季度的税前核心利润为920万令吉，而上一季度则为3370万令吉。

前景：
由于树龄较好且种植面积较多，陈顺风预计其本年度FFB产量将较上年进一步改善。此外，毛棕榈油价格也开始上涨。如果价格恢复能够持续，预计2019年的核心盈利表现也会有所改善。

由于人均收入较高，棕榈油的健康质量和人口增长，这将推动使棕榈油行业的长期发展前景仍然乐观，这将推动更大的需求。 Palm产品部门仍将是集团盈利的核心贡献者。
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James Ng Stock Pick Performance:
Since Recommended Return:

a) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM1.27 (dividend RM0.015) in 8 months 7 days, total return is 79.7%

b) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.39 in 4 months 3 day, total return is 73.8%

c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.29 in 9 months 16 day, total return is 62.3%

d) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.36 in 3 months 25 days, total return is 40.9%

e) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.77 in 2 months 28 days, total return is 33.9%

f) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.40 (dividend RM0.0825) in 6 months 5 day, total return is 31.3%

g) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.69 (dividends RM0.03) in 6 months 17 days, total return is 20.3%

h) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.99 in 3 months 17 days, total return is 16.5%

i) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.41 (dividend RM0.035) in 5 months 1 day, total return is 13.8%

j) HSSEB (HSS ENGINEERS BHD), recommended on 20 Jan 19, initial price was RM1.04, rose to RM1.13 in 2 months 30 days, total return is 8.7%

k) HSL (HOCK SENG LEE BHD), recommended on 1 Jul 18, initial price was RM1.40, rose to RM1.50 (dividend RM0.01) in 9 months 18 days, total return is 7.9%

l) FIAMMA (FIAMMA HOLDINGS BHD), recommended on 23 Sep 18, initial price was RM0.495, rose to RM0.495 (dividend RM0.0225) in 6 months 27 days, total return is 4.5%

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)

日期：8月11日星期日
地点：AG Hotel Penang, George Town (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/2239247806341961 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

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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
-------------------------------
[TSH RESOURCES BHD: The Group expects its FFB production for current year to further improve vis a vis prior year due to better age profile and with more planted areas coming into maturity, CPO prices have also started to edge up, should the price recovery be sustained, the core earnings performance for 2019 is also expected to improve]

Profit before taxation for Q4 2018 and 12M 2018 reduced to RM11.5 million and RM81.3 million respectively from RM47.6 million and RM172.6 million registered for the corresponding periods in the preceding year mainly due to lower core profit.

Palm Product:
Despite higher FFB production, the segment profit of RM122.0 million for 12M 2018 fell short of the RM195.9 million in the preceding year due to lower average CPO price. As for FFB production, the Group achieved 205,875 MT and 857,802 MT in Q4 2018 and 12M 2018 respectively, representing increases of 19% and 21% respectively compared to 172,859 MT and 710,105 MT achieved in the corresponding periods in the preceding year.

Others:
This segment reported higher revenues of RM37.9 million and RM136.8 million for the Q4 2018 and 12M 2018 respectively, compared to RM34.7 million and RM127.3 million for the corresponding periods in the preceding year. Higher revenue for current quarter was mainly due to higher revenues from cocoa products.

Operating profits for Q4 2018 and 12M 2018 of RM8.8 million and RM29.7 million respectively were higher compared to a loss of RM5.3 million and a profit of RM6.4 million in the preceding year corresponding periods mainly due to higher sales of cocoa products and better cocoa product prices.

The Group registered lower core profit before taxation of RM9.2 million for Q4 2018 against RM33.7 million for the preceding quarter as a result of a 18% decrease in FFB production from 250,204 MT to 205,875 MT and decline of CPO price from RM2,036 to RM1,780.

Prospects:
The Group expects its FFB production for current year to further improve vis a vis prior year due to better age profile and with more planted areas coming into maturity. In addition, CPO prices have also started to edge up. Should the price recovery be sustained, the core earnings performance for 2019 is also expected to improve.

The Board remains optimistic on the long term prospect of the palm oil industry due to the higher per capital income, many health qualities of palm oil and population growth, which will drive greater demand. Palm products segment will remain the core contributor to the Group profit.
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James Ng Stock Pick Performance:
Since Recommended Return:

a) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM1.27 (dividend RM0.015) in 8 months 7 days, total return is 79.7%

b) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.39 in 4 months 3 day, total return is 73.8%

c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.29 in 9 months 16 day, total return is 62.3%

d) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.36 in 3 months 25 days, total return is 40.9%

e) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.77 in 2 months 28 days, total return is 33.9%

f) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.40 (dividend RM0.0825) in 6 months 5 day, total return is 31.3%

g) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.69 (dividends RM0.03) in 6 months 17 days, total return is 20.3%

h) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.99 in 3 months 17 days, total return is 16.5%

i) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.41 (dividend RM0.035) in 5 months 1 day, total return is 13.8%

j) HSSEB (HSS ENGINEERS BHD), recommended on 20 Jan 19, initial price was RM1.04, rose to RM1.13 in 2 months 30 days, total return is 8.7%

k) HSL (HOCK SENG LEE BHD), recommended on 1 Jul 18, initial price was RM1.40, rose to RM1.50 (dividend RM0.01) in 9 months 18 days, total return is 7.9%

l) FIAMMA (FIAMMA HOLDINGS BHD), recommended on 23 Sep 18, initial price was RM0.495, rose to RM0.495 (dividend RM0.0225) in 6 months 27 days, total return is 4.5%

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/2239247806341961 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