[IGB BHD：位于新山的The Mall, Mid Valley Southkey于2019年4月23日开业，预计将为怡保花园的零售部门的增长做出贡献；The Mall的可出租区域90％已与租户签订合同，目前约有70％开业]

3Q19 vs 3Q18:
集团的税前利润下降了4％，这是由于房地产投资-商业和酒店部门的贡献降低了。

物业投资–零售：
截至2019年9月30日的3个月，IGB REIT的总收入和净产业收入分别为1.363亿令吉（2018年第三季度：1.337亿令吉）和1.007亿令吉（2018年第三季度：9660万令吉），增加了分别约为2％和4％。

物业投资–商业：
在产业投资-商业部门，该集团商业建筑物的平均出租率在2019年第三季度超过80％，平均租金为每平方尺6.00令吉，与去年相当。

物业发展：
房地产开发部门在本季度的收入确认为3,080万令吉，较去年同期的6,400万令吉减少52％，因集团目前唯一在建的开发项目“ Stonor 3”，即400个单位的公寓位于KLCC附近，即将竣工。

酒店：
截至2019年9月30日的3个月，酒店事业部贡献的收入减少10％至7060万令吉（2018年第三季度：7860万令吉），主要是由于集团大部分的酒店的平均入住率下降和平均房价下降了。

3Q19 vs 2Q19：
集团的税前盈利从上一季度的8860万令吉增加51％至1.340亿令吉。

前景：
物业投资–零售和商业：
房地产投资部门在短期内将面临更大的挑战，因为计划中的新零售空间供应将增加，而吉隆坡办公空间的需求将放缓。Mid Valley City的Menara Southpoint净可出租面积约为490,000平方呎，已于2018年7月6日竣工并获得Certificate of Occupation，预计将为该部门的发展做出积极贡献。

位于新山的The Mall, Mid Valley Southkey于2019年4月23日开业，预计将为怡保花园的零售部门的增长做出贡献。 The Mall的可出租区域90％已与租户签订合同，目前约有70％开业。

物业发展：
鉴于当前房地产开发市场的疲软情绪，2019年将继续是房地产开发领域艰难而充满挑战的一年。

酒店：
截至2019年9月30日的9个月，酒店部门的收入减少11％至2.032亿令吉（2018年第三季度：2.280亿令吉），主要是由于大多数集团中的酒店的平均入住率降低和平均房价降低。酒店业竞争非常激烈，希望政府为促进旅游业所做的努力将对该行业做出积极贡献。
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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 RM2.40 (dividend RM0.025) in 1 year 5 months 23 days, total return is 239.2%

b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.85 (dividend RM0.04) in 1 year 7 months 3 days, total return is 137.7%

c) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM1.31 in 1 year 15 days, total return is 127.8%

d) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM2.97 (adjusted)(dividend RM0.01) in 8 months 2 days, total return is 78.4%

e) PRLEXUS (PROLEXUS BHD), recommended on 25 Aug 19, initial price was RM0.455, rose to RM0.73 in 5 months 10 days, total return is 60.4%

f) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM2.18 (dividends RM0.113) in 1 Year 3 months 28 days, total return is 44.2%

g) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.62 (dividend RM0.105) in 1 Year 2 months 17 days, total return is 35.8%

h) TSH (TSH RESOURCES BHD), recommended on 30 Jun 19, initial price was RM0.90, rose to RM1.20 in 7 months 5 days, total return is 33.3%

i) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.04 (dividend RM0.015) in 1 Year 1 month 19 days, total return is 31.9%

j) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.21 (dividend RM0.018) in 1 Year 1 month 12 days, total return is 27.3%

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

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

3月29日星期日：Hotel Sri Petaling, KL 3份点心

4月19日星期日：AG Hotel Penang, George Town 2份点心

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

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

3月28日星期六：Hotel Sri Petaling, KL

4月18日星期六：AG Hotel Penang, George Town

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
---------------
[IGB BHD: The Mall, Mid Valley Southkey, located in Johor Bahru had its soft opening on 23 April 2019 and is expected to contribute to the growth of the Group’s retail division; 90% of The Mall’s lettable area has been committed with tenants and currently about 70% of them are opened for business]

3Q19 vs 3Q18:
Group pre-tax profit decreased by 4% due to lower contribution from Property Investment - Commercial and Hotel divisions.

Property Investment – Retail:
For the 3 months ended 30 September 2019, IGB REIT reported total gross revenue and net property income of RM136.3 million (3Q2018: RM133.7 million) and RM100.7 million (3Q2018: RM96.6 million) respectively, an increase of about 2% and 4% respectively.

Property Investment – Commercial:
In the Property Investment - Commercial division, average occupancy rates for 3Q2019 for the Group’s commercial buildings was above 80% with average rental rates at RM6.00 psf which is comparable to the previous year.

Property Development:
Revenue recognition from the Property Development division during the current quarter decreased by 52% to RM30.8 million when compared to the same period last year of RM64.0 million as the Group’s only development project currently under construction, “Stonor 3”, a 400-unit condominium located in the vicinity of KLCC, nears completion.

Hotel:
Revenue contributed by the Hotel division for the 3 months to 30 September 2019 decreased by 10% to RM70.6 million (3Q2018: RM78.6 million) mainly as a result of lower average occupancy rates and lower average room rates by a majority of the hotels in the Group.

3Q19 vs 2Q19:
Group pre-tax profit increased by 51% to RM134.0 million from RM88.6 million in the previous quarter.

Prospects:
Property Investment – Retail and Commercial:
The property investment segment will be more challenging in the near term with the scheduled increase in supply of new retail space and slower demand for office space in Kuala Lumpur. Menara Southpoint at Mid Valley City with net lettable area of about 490,000 sq. ft. was completed and obtained its Certificate of Occupation on 6 July 2018 and is expected to contribute positively to the growth of this division.

The Mall, Mid Valley Southkey, located in Johor Bahru had its soft opening on 23 April 2019 and is expected to contribute to the growth of the Group’s retail division. 90% of The Mall’s lettable area has been committed with tenants and currently about 70% of them are opened for business.

Property Development:
In view of the current weak sentiment in the property development market, 2019 will continue to be a difficult and challenging year for the property development segment.

Hotel:
Revenue contributed by the Hotel division for the 9 months to 30 September 2019 decreased by 11% to RM203.2 million (3Q2018: RM228.0 million) mainly as a result of lower average occupancy rates and lower average room rates achieved by a majority of the hotels in the Group. The hospitality sector is very competitive and hopefully the government’s efforts to promote tourism will contribute positively to the sector.
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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