[AWC BHD：CA合同为期10年，从1.1.16到31.12.25，初始费率p.a.前5年设定为约5200万令吉，从第6年到第10年自动增加到5,900万令吉p.a.；根据CARP，他们将在十年内（续租特许期）被支付1.4亿令吉，相当于每月约116万令吉]

设施部门：
QoQ，部门的19财年第四季度的PBT从19财年第三季度的400万令吉降至190万令吉。

该部门在本季度Q4/FY19的PBT较上一年同期Q4/FY18减少290万令吉/-59.9%。

环境部门：
在19财年第4季度，PBT下降了60万令吉/-16.95%至330万令吉，而19财年第3季度为390万令吉。

与去年同期的Q4/FY18相比，本季度Q4/FY19的收入略微增加了40万令吉/2.3%，这主要归功于马来西亚和新加坡地区的积极项目进展。

工程部门：
由于空调领域项目的成本超支（130万令吉），该部门报告其Q4/FY19的PBT为3万令吉，低于Q3/FY19的150万令吉，减少了150万令吉/-98.1%。

该部门设法在本季度记录了适度的PBT，相比之下，Q4/FY18则记录了上一季度的LBT。

铁路部门：
QoQ，PBT从300万令吉降至160万令吉。

集团QoQ：
这季度的PBT进一步受到工程部门的空调部门承担的项目超支成本（130万令吉），MFRS 15产生的递延收入确认（50万令吉），专利注册和维护成本（ 90万令吉），以及根据MFRS 3计算的无形资产的一次性摊销费用，这是由于在一年内完成了对Trackwork and Supplies Sdn Bhd的收购（300万令吉）。

前景：
董事会对这集团于下一个财政年度的财务表现将保持乐观持谨慎乐观态度。这得益于集团强劲的订单余额和已证明的补充能力。

设施部门：
2016年3月初签署了关于延长南部地区（柔佛，马六甲，森美兰）和沙捞越维护特许权的特许协议（CA）。该合同为期10年，从1.1.16到31.12.25。初始费率p.a.前5年设定为约5200万令吉，从第6年到第10年自动增加到5,900万令吉p.a.。

此外，他们还与新的CA一起签署了一份合同，在未来七年内承担关键资产翻新计划（CARP）。根据该合同，他们将根据预定的时间表在各个地点进行CARP。根据这项CARP，他们将在十年内（续租特许期）被支付1.4亿令吉，相当于每月约116万令吉。

这两份合约显着改善了集团的长期前景。他们期望在未来几年内通过CARP合同对其收入和利润表现做出积极贡献。此外，他们目前在商业和医疗保健领域承担某些维护合同，这些合同通常为两到五年。他们预计这些合同将继续为他们的前景做出积极贡献。

环境部门：
环境部门的现有合同，将在接下来的三个财政年度内完成。部门的前景仍然乐观。

空调部门：
由于该部门承接的大部分主要项目已接近完成，因此将继续从设施部门承担部门间的工作。与此同时，管理层目前正在审查该部门未来可能采取的新业务可能性。

水管部门：
由于该部门承担的大部分项目在今年内取得了不错的进展，预计这些正在进行的项目将在下一个财政年度继续作出积极贡献。

铁路部门：
Trackwork＆Supplies Sdn. Bhd. (“Trackwork”) 60％的收购于2018年10月初完成。根据收购条款，卖方已分别为2018年9月30日和2019年9月30日的Trackwork的FYE提供了800万令吉和1200万令吉的利润保证。 2018年9月30日的FYE利润保证得到了很好的满足。
-----------------------------
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 RM1.74 (dividend RM0.025) in 1 year 1 month 23 days, total return is 146.9%

b) PRLEXUS (PROLEXUS BHD), recommended on 25 Aug 19, initial price was RM0.455, rose to RM0.90 in 1 month 12 days, total return is 97.8%

c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.48 (dividend RM0.04) in 1 year 3 months 6 days, total return is 91.2%

d) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.26 in 9 months 22 days, total return is 57.5%

e) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM2.13 (dividends RM0.083) in 11 months 28 days, total return is 39.2%

f) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.30 (dividend RM0.018) in 9 months 14 days, total return is 36.6%

g) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM2.27 (dividend RM0.01) in 4 months 5 days, total return is 36.5%

h) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.65 (dividend RM0.07) in 10 months 20 days, total return is 35.4%

i) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.77 in 8 months 18 days, total return is 33.9%

j) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.21 (dividend RM0.1875) in 11 months 24 days, total return is 26.9%

k) PESTECH (PESTECH INTERNATIONAL BHD), recommended on 2 Jun 19, initial price was RM1.04, rose to RM1.23 in 4 months 5 days, total return is 18.3%

l) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM4.27 (dividends RM0.111) in 1 Year 2 months 8 days, total return is 10.6%

m) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.89 in 9 months 7 days, total return is 4.7%

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。

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10月18日星期五：Silka Johor Bahru Hotel, Johor Bahru 5份点心

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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

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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
--------------
[AWC BHD: CA contract is for 10 years, from 1.1.16 to 31.12.25, initial rate p.a. is set at approximately RM52 mil for the first 5 years, with automatic increase to RM59 mil p.a. from year 6 to 10; under CARP they are to be paid RM140 mil over ten years (the renewed concession period), equaling approximately RM1.16 mil monthly]

Facilities Division:
QoQ, the division’s PBT for Q4/FY19 decreased to RM1.9m from RM4.0m in Q3/FY19.

The division recorded a decrease in PBT for the current quarter Q4/FY19 vs preceding year corresponding quarter Q4/FY18 by RM2.9m/-59.9%.

Environment Division:
PBT in Q4/FY19 decreased slightly by RM0.6m/-16.95% to RM3.3m as compared to RM3.9m in Q3/FY19.

A marginal increase in the revenue of RM0.4m/2.3% for the current quarter under review Q4/FY19 against to preceding year corresponding quarter Q4/FY18 was attributable to positive project progress mainly from Malaysia as well as Singapore region.

Engineering Division:
Due to the cost overruns incurred in a project of the aircond segment (RM1.3m) , the division reported a lower PBT of RM0.03m in Q4/FY19 as compared to RM1.5m in Q3/FY19, a decrease of RM1.5m/-98.1%.

The division managed to record a modest PBT during the quarter under review compared to a LBT recorded in the preceding year corresponding quarter Q4/FY18.

Rail Division:
QoQ, PBT decreased to RM1.6m compared to RM3.0m.

Group QoQ:
PBT for the quarter under review was further weighed down by cost overruns in a project undertaken by the aircond segment of the Engineering division (RM1.3m), deferred revenue recognition arising from MFRS 15 (RM0.5m), patent registration and maintenance costs (RM0.9m) from the Environment division as well as a one-time amortization charge against intangible assets computed pursuant to MFRS 3, arising from the acquisition of Trackwork and Supplies Sdn Bhd which was completed during the year (RM3.0m).

Prospects:
The Board is cautiously optimistic that the Group’s financial performance in the coming financial year will remain positive. This is underpinned by the Group’s strong orderbook balance and demonstrated ability to replenish it.

Facilities Division:
The Concession Agreement (CA) for the renewal of the maintenance concession for the Southern Region (Johor, Malacca, Negeri Sembilan) and Sarawak was signed in early March 2016. This contract is for 10 years, from 1.1.16 to 31.12.25. Initial rate p.a. is set at approximately RM52 mil for the first 5 years, with automatic increase to RM59 mil p.a. from year 6 to 10.

In addition, together with the new CA, they also signed a contract to undertake the Critical Asset Refurbishment Programme, or CARP, over the next seven years. Under this contract, they are to undertake the CARP over various locations, and based on predetermined timing/schedules. Under this CARP they are to be paid RM140 mil over ten years (the renewed concession period), equaling approximately RM1.16 mil monthly.

These two contracts significantly improve the Group’s long-term prospects. They expect positive contribution to their revenue and profit performance from their CARP contract over the next several years. Also, they currently undertake certain maintenance contracts in the commercial and healthcare segments where these contracts are generally for two to five year periods. They expect these contracts to continuing to contribute positively to their prospects.

Environment Division:
The Environment Division has contracts on hand that will tide it over for the next three financial years. Prospects remain positive for this Division.

Air conditioning segment:
As most of the major projects undertaken by this segment are nearly completed, it will continue to undertake inter segment jobs from the facilities division. In the meantime, the Management is currently reviewing new business possibilities for the segment to undertake in the future.

Plumbing segment:
As most of the projects undertaken by the segment had recorded decent progress during the year under review, these on-going projects are expected to continue contributing positively in the coming financial year.

Rail Division:
The acquisition of 60% in Trackwork & Supplies Sdn. Bhd. (“Trackwork”) was completed in early October 2018. Under the terms of the acquisition, the sellers have provided a profit guarantee of RM8mil and RM12mil profit after tax for Trackwork’s FYE 30 September 2018 and FYE 30 September 2019 respectively. The profit guarantee for the FYE 30 September 2018 were comfortably met.
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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