[UEM SUNRISE BHD：国内项目收入减少]

QoQ:
税后利润的增长与收入的增长一致，但被MBX的3700万令吉减值损失所抵消。

YoY：
国际收入的较高贡献缓解了国内项目收入减少的影响，因为中部的Residensi Astrea和Eugenia Serene Heights，南部的Aspira ParkHomes和68 Avenue仍处于发展周期的早期阶段，除了Almas和Estuari竣工。

UEM阳光本期间的利润较低，这主要是由于上年同期的土地销售贡献，其利润率显着提高，但被Aurora Melbourne Central和Conservatory项目的部分结算收入所缓解。

前景：
与2018年第4季度相比，2019年第1季度房地产市场的悬空增加（按单位增长1.9％;按价值计算增长0.5％），至199亿令吉或32936单位。该集团已在Gerbang Nusajaya推出了价值2.49亿令吉的中阶双层排屋，Aspira ParkHomes的第1阶段和第2阶段分别于1月19日和6月29日推出，分别录得令人鼓舞的74％和58％的购买率。Aspira Square，是集团在Gerbang Nusajaya的首个商业开发项目，计划于2019年第三季度推出。在中部地区，集团计划在2019年第四季度推出甲洞都市开发项目的第一阶段。该项目位于5号地块，设有两个住宅区和零售区，总额估计为6亿5600万令吉。

在柔佛州的公主港，集团将收购Themed Attractions Resorts Hotels Sdn Bhd拥有的零售资产和主题公园建筑资产。收购资产还将使集团通过开发228英亩的住宅来减少在Desaru的投资，而不是原来的680英亩。它的目标是在2019年第四季度完成交易。

集团已全部出售并完成了7.5亿澳元的Aurora Melbourne Central Aurora项目，其中两个可分离部分（SP），SP3和SP4为3.93亿澳元，已以99％的结算率移交给买方。 SP5的移交，价值2.41亿澳元，将于2019年10月开始。Conservatory于2018年第四季度完成。3.22亿澳元的项目已售出98％，结算率为78％。截至2019年6月，其房地产销售和未开票销售分别为5.32亿令吉和26亿令吉。除非出现不可预见的不利市场情况，否则该集团有望实现其2019年的销售额和GDV分别个别达到12亿令吉的目标。
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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 RM1.93 (dividend RM0.025) in 1 year 2 months 20 days, total return is 173.4%

b) PRLEXUS (PROLEXUS BHD), recommended on 25 Aug 19, initial price was RM0.455, rose to RM0.90 in 2 months 7 days, total return is 97.8%

c) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM1.06 in 9 months 12 days, total return is 84.3%

d) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.39 (dividend RM0.04) in 1 year 3 months 30 days, total return is 79.9%

e) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.30 in 10 months 16 days, total return is 62.5%

f) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM2.20 (dividends RM0.083) in 1 Year 25 days, total return is 43.6%

g) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.36 (dividend RM0.018) in 10 months 9 days, total return is 42.8%

h) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM2.36 (dividend RM0.01) in 4 months 29 days, total return is 41.9%

i) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.72 (dividend RM0.07) in 11 months 14 days, total return is 40.9%

j) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.24 (dividend RM0.22) in 1 Year 18 days, total return is 30.2%

k) PESTECH (PESTECH INTERNATIONAL BHD), recommended on 2 Jun 19, initial price was RM1.04, rose to RM1.29 in 4 months 29 days, total return is 24%

l) STRAITS (STRAITS INTER LOGISTICS BHD), recommended on 28 Jul 19, initial price was RM0.21, rose to RM0.235 in 3 months 3 days, total return is 11.9%

m) DESTINI (DESTINI BHD), recommended on 24 Sep 19, initial price was RM0.20, rose to RM0.22 in 1 months 8 days, total return is 10%

n) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM4.16 (dividends RM0.111) in 1 Year 3 months 3 days, total return is 7.9%

o) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.44 (dividends RM0.04) in 1 Year 1 month 2 days, total return is 3.5%

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页面与我联系。

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3) 【公司业绩分享会】:
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12月20日星期五：AG Hotel Penang, George Town 2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
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[UEM SUNRISE BHD: lower revenue from domestic projects]

QoQ:
Profit after tax increased in line with higher revenue but offset by RM37 million impairment loss of interests in MBX.

YoY:
The higher contribution from international revenue cushioned the impact of lower revenue from domestic projects as Residensi Astrea and Eugenia Serene Heights in Central and Aspira ParkHomes and 68 Avenue in Southern are still at early stages of their development cycles apart from the completion of Almas and Estuari.

The Group recorded lower profit for the periods largely due to contribution from land sales in preceding year's corresponding periods which carry a significantly higher margin cushioned by the partial settlement income of Aurora Melbourne Central and Conservatory projects.

Prospects:
Overhang in the property market increased in 1Q 2019 (+1.9% by units; +0.5% by value) vis-à-vis 4Q 2018, to RM19.9 billion or 32936 units. The Group has launched RM249 million worth of mid market double storey terrace homes In Gerbang Nusajaya, Aspira ParkHomes, phases 1 and 2 which were launched on 19 January and 29 June, have registered encouraging take up rates of 74% and 58%, respectively. Aspira Square, the Group's first commercial development in Gerbang Nusajaya is targeted to be launched in 3Q 2019. In the Central region, the Group plans to launch the first phase of the Kepong Metropolitan development in 4Q 2019. Identified as Plot 5 it features two residential blocks and retail with an estimated GDV of RM656 million.

In Puteri Harbour, Johor, the Group will be acquiring the retail assets and a theme park building Assets owned by Themed Attractions Resorts Hotels Sdn Bhd. The acquisition of the Assets will also see the Group reducing its exposure in Desaru by developing 228 acres of residential lands as opposed to the original 680 acres. It targets to complete the transaction in 4Q 2019.

The Group fully sold and completed the AUD750 million Aurora Melbourne Central Aurora with two of its separable portions (SP), SP3 and SP4 of AUD393 million handed over to the buyers at a settlement rate of 99% to-date. The handover of SP5, valued at AUD241 million, will commence in October 2019. Conservatory was completed in 4Q 2018. The AUD322 million project is 98% sold with a settlement rate of 78%. Its property sales and unbilled sales as at end of June 2019 are RM532 million and RM2.6 billion, respectively. Barring unforeseen adverse market condition, the Group is on track to meet both its sales and GDV targets of RM1.2 billion each for 2019.
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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