[PHARMANIAGA BHD：非经常性开支导致营业支出增加]

3Q19 vs 3Q18:
由于非经常性开支导致营业支出增加，集团录得税前利润400万令吉，比去年同期减少77.9％。

YTD19 vs YTD18：
由于较低的贡献利润率，集团的PBT为4,700万令吉。该集团录得2,900万令吉的PAT，较去年同期的3,900万令吉减少。

物流及分销部在9个月期间的PBT为1,700万令吉，比去年同期的1,200万令吉有所增加。

制造部门的营业收入为2亿1千980万令吉，PBT为3千6百万令吉，与来自政府部门的订单趋势一致。

印尼部门录得70万令吉的赤字，而去年同期的PBT为20万令吉。这主要是由于较高的财务成本和增加的运营成本。

3Q19 vs 2Q19：
该集团本季度录得400万令吉的PBT，而上一个季度为1200万令吉（这得益于先前减值的应收账款的收回）。因此，这季度的PAT减少至40万令吉，而上一个季度为900万令吉。

前景：
利润受到利润率减少的影响。在今年的最后一个季度，由于药房医院信息系统的摊销费用增加，发马预计将对收益产生进一步的影响。
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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 RM1.98 (dividend RM0.025) in 1 year 3 months 17 days, total return is 180.4%

b) PRLEXUS (PROLEXUS BHD), recommended on 25 Aug 19, initial price was RM0.455, rose to RM0.945 in 3 months 4 days, total return is 107.7%

c) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM1.14 in 10 months 9 days, total return is 98.3%

d) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.45 (dividend RM0.04) in 1 year 4 months 28 days, total return is 87.4%

e) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM2.42 (dividends RM0.083) in 1 Year 1 month 22 days, total return is 57.4%

f) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.21 in 11 months 13 days, total return is 51.3%

g) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM2.51 (dividend RM0.01) in 5 months 27 days, total return is 50.9%

h) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.31 (dividend RM0.018) in 11 months 6 days, total return is 37.6%

i) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.67 (dividend RM0.07) in 1 Year 11 days, total return is 37%

j) TSH (TSH RESOURCES BHD), recommended on 30 Jun 19, initial price was RM0.90, rose to RM1.18 in 4 months 29 days, total return is 31.1%

k) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.11 (dividend RM0.22) in 1 Year 1 month 15 days, total return is 23.3%

l) PESTECH (PESTECH INTERNATIONAL BHD), recommended on 2 Jun 19, initial price was RM1.04, rose to RM1.28 in 5 months 27 days, total return is 23.1%

m) SWKPLNT (SARAWAK PLANTATION BHD), recommended on 24 Mar 19, initial price was RM1.55, rose to RM1.70 (dividend RM0.05) in 8 months 5 days, total return is 12.9%

n) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM4.36 (dividends RM0.111) in 1 Year 3 months 29 days, total return is 12.9%

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)【看懂年报和季报】课程:
11a.m. – 7p.m.，免费茶和咖啡

12月22日星期日：AG Hotel Penang, George Town 2份点心

12月29日星期日：Hotel Sri Petaling, KL 3份点心

2020年2月22日星期六：Silka Johor Bahru Hotel, Johor Bahru 7份点心

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

12月21日星期六：AG Hotel Penang, George Town

12月28日星期六：Hotel Sri Petaling, KL

2020年2月23日星期日：Silka Johor Bahru Hotel, Johor Bahru

3) 【公司业绩分享会】:
2p.m. – 7p.m.，免费茶和咖啡

12月20日星期五：AG Hotel Penang, George Town 2份点心

12月27日星期五：Hotel Sri Petaling, KL 3份点心

2020年2月21日星期五：Silka Johor Bahru Hotel, Johor Bahru 7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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[PHARMANIAGA BHD: higher operating expenditure due to non-recurring expenses]

3Q19 vs 3Q18:
As a result of higher operating expenditure due to non-recurring expenses, the Group recorded a profit before tax of RM4 million, a decrease of 77.9% from the same quarter last year.

YTD19 vs YTD18:
As a result of lower contribution margins, the Group posted a PBT of RM47 million. This saw the Group record a PAT of RM29 million, a decrease compared with RM39 million in the same period last year.

The Logistics and Distribution Division posted a PBT of RM17 million for the nine-month period, an increase compared with RM12 million in the same period last year.

The Manufacturing Division recorded a PBT of RM36 million on the back of revenue of RM219.8 million, in line with order trends from the Government sector.

The Indonesia Division recorded a deficit of RM0.7 million compared with a PBT of RM0.2 million in the same period last year. This was mainly due to higher finance costs and increased operating costs.

3Q19 vs 2Q19:
The Group recorded a PBT of RM4 million for the current quarter compared with RM12 million in the immediate preceding quarter, which benefitted from the recovery of previously impaired receivables. Accordingly, PAT for the quarter under review was lower at RM0.4 million compared with RM9 million in the immediate preceding quarter.

Prospects:
The bottom line was impacted due to reduced contribution margins. In the final quarter of the year, the Group foresees further impact on earnings due to higher amortisation of the Pharmacy Hospital Information System.
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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