[YTL CORP BHD：水泥生产和贸易，以及房地产市场环境充满挑战，新加坡的电力市场将保持竞争性]

杨忠礼机构本季度的PBT录得2.761亿令吉。与去年录得的3.77亿令吉相比，这减少了1亿90万令吉或26.8％。在回顾的9个月中，该期间的集团PBT为8.423亿令吉。与去年录得的利润为12.142亿令吉相比，这减少了3亿7,190万令吉或30.6％。

施工：
在本季度/ 9个月内，收入和PBT的增加是由于从Gemas到JB的electrified double-tracking railway项目的进度计费增加。

IT和电子商务相关业务：
本季度收入下降是由于内容和数字媒体部门的收入减少，而LBT则是由于利息收入减少和联营公司业绩下降所致。在所审查的9个月中，收入和PBT的减少是由于内容和数字媒体部门录得的收入减少。

水泥制造和贸易：
本季度，由于所有部门的销量下降，收入减少，而PBT的增加则归因于较高的销售价格，较低的营业费用以及相关公司的较高利润份额。在所审查的9个月中，收入和PBT的下降是由于所有部门的销售量下降以及Pentadbir Tanah KL收购Mass Rapid Transit项目后，没有卖掉土地的收益。

物业投资及发展：
本季度，PBT减少的原因是YTL Hospitality REIT记录的以澳元计价的定期贷款的未实现外汇收益较低。在审查的9个月中，收入和PBT下降是由于Udapakat Bina Sdn. Bhd.（YTL Land＆Development Berhad的全资子公司）没有从土地卖掉中获得一次性收益，因为Pentadbir Tanah KL收购Mass Rapid Transit项目和较低的未实现外汇收益。

管理服务及其他：
本季度，收入减少是由于外国子公司对基金投资收到的股息收入减少，而PBT因运营成本下降，投资和衍生品公允价值变动以及YTL Power International Berhad记录的应计技术服务收入增加而有所改善。

酒店：
本季度，较低的PBT是由于Niseko Village K.K.的运营费用增加。

公用事业：
在本季度/ 9个月内，收入增加是由于燃油价格上涨，而PBT较低是由于零售和油罐租赁利润率下降，运营和融资成本增加以及应收款项的减值准备（法院就多功能公用事业（商户）部门记录的未决诉讼作出决定后）。

QoQ：
收入减少是由于建筑和水泥制造和贸易部门的收入减少。

前景：
施工：
由于建筑合约主要涉及杨忠礼机构的物业发展及基建工程，预期于2019年6月30日止财政年度会取得令人满意的表现。

IT与电子商务：
鉴于其收入的很大一部分来自相对有弹性的共享费收入，因此截至2019年6月30日止财政年度该部门的前景应令人满意。

水泥生产和贸易：
该行业的前景仍然在行业参与者之间充满竞争性，预计在2019年6月30日结束的财政年度将取得令人满意的业绩。

物业投资及发展：
尽管马来西亚和新加坡的房地产市场环境充满挑战，但杨忠礼机构将继续开展营销工作。

管理服务及其他/酒店：
预计2019年6月30日止财政年度这两个部门的表现仍然会令人满意。

公用事业：
由于全球市场的波动和批发电力市场的发电容量供过于求，新加坡的电力市场将保持竞争性。尽管面临挑战，该部门仍将继续专注于核心业务以外的多元化和客户服务，以将业务变成integrated multi-utilities supply。
-----------------------------
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 RM1.37 (dividend RM0.015) in 10 months 2 days, total return is 93.7%

b) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.39 in 5 months 29 days, total return is 73.8%

c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.26 (dividend RM0.04) in 11 months 13 days, total return is 63.5%

d) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.52 (dividend RM0.0825) in 8 months, total return is 37.7%

e) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.75 in 4 months 25 days, total return is 30.4%

f) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.24 (dividend RM0.008) in 5 months 22 days, total return is 29.3%

g) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.68 (dividends RM0.03) in 8 months 15 day, total return is 19.6%

h) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.98 in 5 months 15 day, total return is 15.3%

i) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.42 (dividend RM0.035) in 6 months 27 days, total return is 14.6%

j) SWKPLNT (SARAWAK PLANTATION BHD), recommended on 24 Mar 19, initial price was RM1.55, rose to RM1.74 in 2 months 21 days, total return is 12.3%

k) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM4.05 (dividends RM0.084) in 10 months 16 days, total return is 4.4%

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

1)【股票-实际操作班】课程：
10a.m. – 9p.m.，免费午餐和晚餐

7月14日星期日：AG Hotel Penang, George Town

7月28日星期日：Silka Johor Bahru Hotel, Johor Bahru

9月7日星期六：Hotel Sri Petaling, KL

2)【看懂年报和季报】课程:
11a.m. – 7p.m.，免费茶和咖啡

7月27日星期六：Silka Johor Bahru Hotel, Johor Bahru 5份点心

8月11日星期日：AG Hotel Penang, George Town 4份点心

9月8日星期日：Hotel Sri Petaling, KL 3份点心

3) 【公司业绩分享会】:
2p.m. – 7p.m.，免费茶和咖啡

7月13日星期六：AG Hotel Penang, George Town 4份点心

7月21日星期日：Hotel Sri Petaling, KL 3份点心

7月26日星期五：Silka Johor Bahru Hotel, Johor Bahru 5份点心

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/2292806867652721 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/BywOjAEnUPE

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
---------------------
[YTL CORP BHD: the challenging Cement manufacturing & trading segment, and property market conditions both in Malaysia and Singapore, electricity market in Singapore will remain competitive]

The Group recorded a PBT of RM276.1m for this quarter. This represents a decrease of RM100.9m or 26.8% as compared to a profit of RM377m recorded in last year. For the 9 months under review, Group PBT for this period stood at RM842.3m. This represents a decrease of RM371.9m or 30.6% as compared to a profit of RM1214.2m recorded in last year.

Construction:
For this quarter / 9 months under review, the increase in revenue and PBT was due to increase in progress billing for the electrified double-tracking railway project from Gemas to JB.

IT & e-commerce related business:
For this quarter, revenue decreased due to lower revenue by Content and digital media division whilst the LBT was due to lower interest income earned and lower shares of results in associated company. For the 9 months under review, the decrease in revenue and PBT was due to lower revenue recorded by Content and digital media division.

Cement Manufacturing & trading:
For this quarter, revenue decreased due to lower sales volume from all divisions whilst increase in PBT was due to higher selling price, lower operating expenses and higher share of profits of the associated company. For the 9 months under review, the decrease in revenue and PBT was due to lower sales volume from all divisions and absence of gain on disposal of land following the acquisition by Pentadbir Tanah KL for the Mass Rapid Transit project.

Property investment & development:
For this quarter, the decrease PBT was due to the lower unrealised forex gain on term loan denominated in Australian Dollar recorded by YTL Hospitality REIT. For the 9 months under review, revenue and PBT decreased were due to the absence of one-off gain from land disposal by Udapakat Bina Sdn. Bhd. a wholly-owned subsidiary of YTL Land & Development Berhad following the acquisition by Pentadbir Tanah KL for the Mass Rapid Transit project and lower unrealised forex gain.

Management services & others:
For this quarter, decrease in revenue was due to lower distribution income received from investment in a fund by a foreign subsidiary whilst PBT improved due to lower operating costs, fair value changes in investments and derivatives and coupled with accrued technical service income recorded by YTL Power International Berhad.

Hotels:
This quarter, the lower PBT was due to higher operating expenses incurred by Niseko Village K.K.

Utilities:
For this quarter / 9 months under review, the increase in revenue was due to higher fuel oil price whilst the lower PBT was due to lower vesting, retail and tank leasing margin, higher operating and finance costs, and coupled with an allowance for impairment of receivable following a court decision on the outstanding litigation recorded by Multi utilities business (Merchant) divisions.

QoQ:
The decrease in revenue was due to lower revenue contributed by the Construction and Cement manufacturing & trading segment.

Prospects:
Construction:
It is expected to achieve satisfactory performance for the financial year ending 30 June 2019 as the construction contracts relate mainly to the Group's property development and infrastructure works.

IT & e-commerce:
Outlook for the segment in the financial year ending 30 June 2019 should be satisfactory, given that a significant portion of its revenue is derived from relatively resilient spectrum sharing fee income.

Cement manufacturing & trading:
Outlook for this industry remains competitive amongst industry players and it is expected to achieve satisfactory performance for the financial year ending 30 June 2019.

Property investment & development:
Notwithstanding the challenging property market conditions both in Malaysia and Singapore, the Group will continue to embark on marketing efforts and initiatives to unlock sales.

Management services & others / Hotels:
The performance of these 2 segments for the financial year ending 30 June 2019 is expected to remain satisfactory.

Utilities:
Electricity market in Singapore will remain competitive, driven by volatilities across global markets and generation capacity oversupply in the wholesale electricity market. Despite the challenges, this segment will continue to focus on customer service and diversification beyond the core business into integrated multi-utilities supply.
--------------------------------------------------------------------------
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 RM1.37 (dividend RM0.015) in 10 months 2 days, total return is 93.7%

b) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.39 in 5 months 29 days, total return is 73.8%

c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.26 (dividend RM0.04) in 11 months 13 days, total return is 63.5%

d) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.52 (dividend RM0.0825) in 8 months, total return is 37.7%

e) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.75 in 4 months 25 days, total return is 30.4%

f) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.24 (dividend RM0.008) in 5 months 22 days, total return is 29.3%

g) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.68 (dividends RM0.03) in 8 months 15 day, total return is 19.6%

h) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.98 in 5 months 15 day, total return is 15.3%

i) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.42 (dividend RM0.035) in 6 months 27 days, total return is 14.6%

j) SWKPLNT (SARAWAK PLANTATION BHD), recommended on 24 Mar 19, initial price was RM1.55, rose to RM1.74 in 2 months 21 days, total return is 12.3%

k) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM4.05 (dividends RM0.084) in 10 months 16 days, total return is 4.4%

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/2292806867652721 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