[SIME DARBY BHD：第七代宝马3系的全球推出预计将推动销售增长]

3Q19 vs 3Q18:
a）工业：
由于澳大利亚采矿业和建筑业的复苏，销售额和利润增加，利润增长了171.4％。中国的利润增加，因为有更高的设备交付和销售支持产品到建筑行业。

b）汽车：
宝马和福特在马来西亚的增加贡献弥补了利润的减少。

c）物流：
该部门的利润下降38.9％，主要是由于港口利润率下降以及潍坊水务于二零一八年九月完成出售后停止贡献。

d）医疗保健：
Ramsay Sime Darby Healthcare合资企业的利润份额较低是由于上一期税收调整所致。剔除调整后，利润份额将与前一个相应期间保持一致。

e）其他：
包括森那美对Eastern & Oriental Berhad（“E＆O”）的投资减值3300万令吉，以及出售商标1700万令吉的收益。

YTD19 vs YTD18:
a）工业：
本期利润增加22.3％至5.75亿令吉。本期间包括出售物业收益1,800万令吉（上一期间为1.65亿令吉）及金融资产公允价值亏损5,900万令吉。不计这些项目，由于澳大利亚采矿和建筑业的复苏，利润增长了102.0％。

b）汽车：
由于2018年7月和8月商品和服务税零税率后，马来西亚的销售额和利润增加，该部门的利润增长了31.3％至3.52亿令吉。本期间包括越南业务的利润为1,600万令吉，主要来自退税。

c）物流：
利润增加88.5％，主要是由于潍坊水务出售收益为7,800万令吉。

d）其他：
包括森那美对E＆O的投资减值9,900万令吉，承认ONGC Wellhead项目获得的仲裁奖励为2600万令吉，以及出售商标1700万令吉的收益。

3Q19 vs 2Q19:
a）工业：
本季度利润增长11.8％至2.09亿令吉，因为上一季度金融资产的公允价值亏损为5,800万令吉，而出售物业的收益为1,800万令吉。

b）汽车：
利润下降17.0％，主要是由于税务和关税退税导致上一季度越南业务报告的利润为1,800万令吉。

c）物流：
由于商业环境充满挑战，潍坊港的港口吞吐量下降，导致利润减少26.7％。

d）其他：
包括森那美对E＆O的投资减值3300万令吉（上一季度3100万令吉）和卖掉商标收益1700万令吉。

前景：
尽管商业环境充满挑战，集团仍然取得了强劲的年初至今业绩。尽管存在宏观经济和地缘政治环境的影响，中国政府继续支持基础设施建设，并宣布了所得税改革以刺激消费。同样在澳大利亚，较低的利率水平加上较高的公共基础设施支出水平导致私人投资的增加。工业部门的业绩得益于采矿业的强劲表现和澳大利亚基础设施支出的增加。尽管由于贸易紧张局势导致短期不确定性，但从长远来看，中国的建筑前景依然乐观。

汽车部门拥有全新的产品阵容。第七代宝马3系的全球推出预计将推动销售增长。该部门将继续寻找增长机会，特别是在中国和澳大利亚，并提高效率以应对全年预期的逆风。

物流部门通过提高运营生产力和使货物类型和客户多样化，继续加强其业务绩效。除非出现任何不可预见的情况，董事会预计森那美于2019年6月30日止财政年度的表现将优于上一财政年度。
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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 RM1.65 (dividend RM0.015) in 11 months 12 days, total return is 132.9%

b) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.47 in 7 months 9 days, total return is 83.8%

c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.40 (dividend RM0.04) in 1 year 23 days, total return is 81.1%

d) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.60 (dividend RM0.1875) in 9 months 10 days, total return is 47.5%

e) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.80 in 6 months 5 days, total return is 39.1%

f) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.32 (dividend RM0.008) in 7 months 2 days, total return is 37.6%

g) PESTECH (PESTECH INTERNATIONAL BHD), recommended on 2 Jun 19, initial price was RM1.04, rose to RM1.40 in 1 month 24 days, total return is 34.6%

h) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.66 (dividend RM0.035) in 8 months 7 days, total return is 33.5%

i) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM1.89 (dividends RM0.063) in 9 months 17 days, total return is 22.8%

j) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.975 in 6 months 24 days, total return is 14.7%

k) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.57 (dividends RM0.04) in 9 months 24 days, total return is 12.6%

l) HSSEB (HSS ENGINEERS BHD), recommended on 20 Jan 19, initial price was RM1.04, rose to RM1.11 in 6 months 5 days, total return is 6.7%

m) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM4.07 (dividends RM0.084) in 11 months 25 days, total return is 4.9%

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

8月10日星期六：AG Hotel Penang, George Town

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

8月9日星期五：AG Hotel Penang, George Town 4份点心

9月6日星期五：Hotel Sri Petaling, KL 3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

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：jamesnginvest

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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[SIME DARBY BHD: global rollout of the seventh generation BMW 3 Series is expected to drive sales growth]

3Q19 vs 3Q18:
a) Industrial:
Profit increased by 171.4% on the back of the recovery in the mining and construction sectors in Australia, with higher sales and margins. Profits from China increased from higher equipment deliveries and product support sales to the construction sector.

b) Motors:
Decreased of profit was compensated by higher contributions from BMW and Ford in Malaysia.

c) Logistics:
The division registered a 38.9% decrease in profit mainly due to lower margins at ports and cessation of contribution from Weifang Water after the disposal was completed in September 2018.

d) Healthcare:
The lower share of profit from the Ramsay Sime Darby Healthcare joint venture was due to tax adjustments in the previous period. Excluding the adjustment, the share of profit would have been consistent with the previous corresponding period.

e) Others:
The results include the impairment of the Group’s investment in Eastern & Oriental Berhad (“E&O”) of RM33 million and gain on disposal of a trademark of RM17 million.

YTD19 vs YTD18:
a) Industrial:
Profit increased by 22.3% to RM575 million in the current period. The current period includes a gain on disposal of property of RM18 million (previous period - RM165 million) and fair value loss on financial assets of RM59 million. Excluding these items, profits increased by 102.0% on the back of the recovery in the mining and construction sectors in Australia.

b) Motors:
The division recorded an increase in profit of 31.3% to RM352 million due to higher sales and profits in Malaysia following the zero-rating of the Goods and Services Tax in July and August 2018. The current period includes profit from the Vietnam operations of RM16 million, mainly arising from the tax and duties refund.

c) Logistics:
Profit increased by 88.5% mainly due to the gain on disposal of Weifang Water of RM78 million.

d) Others:
The results include the impairment of the Group’s investment in E&O of RM99 million, the recognition of the arbitration award received for the ONGC Wellhead project of RM26 million and gain on disposal of trademark of RM17 million.

3Q19 vs 2Q19:
a) Industrial:
Profit increased by 11.8% to RM209 million in the current quarter as the preceding quarter included fair value loss on financial assets of RM58 million and gain on disposal of properties of RM18 million.

b) Motors:
Profit decreased by 17.0% mainly as a result of profit reported for the Vietnam operations of RM18 million in the preceding quarter arising from tax and duties refund.

c) Logistics:
Profit decreased by 26.7% due to lower port throughput of Weifang Port attributed by a challenging business environment.

d) Others:
The results include the impairment of the Group’s investment in E&O of RM33 million (preceding quarter - RM31 million) and the gain on trademark disposal of RM17 million.

Prospects:
The Group had achieved a strong year-to-date performance despite the challenging business environment. Notwithstanding the macroeconomic and geopolitical environment, the Chinese government continues to support infrastructure construction and has announced income tax reforms to stimulate consumption. Likewise in Australia, the low level of interest rates coupled with higher levels of public infrastructure spending contributed to an upswing in private investment. The Industrial division’s results is backed by strong performance of the mining sector and increasing level of infrastructure spending in Australia. The construction outlook in China remains positive in the long run, despite short term uncertainties due to trade tensions.

The Motors division has the benefit of a fresh product line-up. The global rollout of the seventh generation BMW 3 Series is expected to drive sales growth. The division would continue to source for growth opportunities, particularly in China and Australia, and improve efficiency to manage the headwinds expected over the year.

The Logistics division continues to strengthen its business performance by improving operational productivity and diversifying cargo type and customers. Barring any unforeseen circumstances, the Board expects the Group’s performance for the financial year ending 30 June 2019 to be better than that of the previous financial year.
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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.

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