tag:blogger.com,1999:blog-250589152024-03-28T16:19:07.418+08:00Sharetisfy歌词Unknownnoreply@blogger.comBlogger32125tag:blogger.com,1999:blog-25058915.post-81300877946763793282022-08-29T21:22:00.008+08:002022-08-29T21:22:48.778+08:00陈唱摩多(TCHONG,4405,主板消费股)次季转盈624万<p>陈唱摩多(TCHONG,4405,主板消费股)次季转盈624万<br /><br />(吉隆坡29日讯)由于汽车业务表现好转,陈唱摩多(TCHONG,4405,主板消费股)2022财年次季转亏为盈624万4000令吉;去年同期则净亏2221万令吉。<br /><br />该公司周一向马交所报备,次季营业额按年增长27.6%至8亿1428万令吉,相比去年同期6亿3803万2000令吉。<br /><br />首半年来看,营业额累计录得15亿8358万1000令吉,年增28.6%;净亏收窄至1327万7000令吉,去年同期亏损1447万5000令吉。<br /><br />文告指出,有利的销售组合及较高的净外汇收益,协助汽车业务有所好转。<br /><br />该公司表示,将持续采取适当行动,保持所在市场的竞争力,相信在本地和越南推出的新车款,将可推动销售增长。<br /><br />https://www.enanyang.my/%E8%B4%A2%E7%BB%8F%E6%96%B0%E9%97%BB/%E9%99%88%E5%94%B1%E6%AC%A1%E5%AD%A3%E8%BD%AC%E7%9B%88624%E4%B8%87<br /></p>Adminhttp://www.blogger.com/profile/16609839271303069034noreply@blogger.comtag:blogger.com,1999:blog-25058915.post-9973266486692291342021-12-13T13:33:00.000+08:002021-12-13T13:33:36.545+08:00【独家】4大障碍挡道 大马电动车难畅行<p> <br />klsescreener.com<br />【独家】4大障碍挡道 大马电动车难畅行<br />Nanyang<br />18-23 minutes<br /><br />电动车<br /><br />独家报道:萧维旸<br /><br />节能减碳的倡议在全球扎根,身披环保光环的电动车,顺势成为交通领域新宠。我国电动车发展,处在哪个阶段?<br /><br />为扩大电动车使用率,政府在《2022年财政预算案》中建议,豁免电动车进口、国产和销售税。这项措施已将电动车推上舆论风口:究竟电动车能否取代燃油车?<br /><br />回看马股动态,部分汽车股巨头早已摩拳擦掌引进更多电动车款;一些能源和工业股也和政府合作,在国内打造更完善电动车供应链。<br /><br />从理性角度出发,国内电动车业发展真如此径情直遂吗?市场专家告诉本报,仍有四大难题需要克服。<br /><br />免税护航驱动电动车<br /><br />顺应节能减碳理念,全球燃油车正缓步退场,由电动车取而代之。<br /><br />今年7月,欧盟提议从2035年起禁止销售燃油车,加速向电动车的转换,大大减低二氧化碳排放量。彭博能源财经也发布报告指出,到了2040年,电动车将占全球新车销量的54%,和汽车保有量的三分之一。<br /><br />全球电动车销量<br /><img alt="全球电动车销量" class="img-fluid" height="441" src="https://www.enanyang.my/sites/default/files/styles/media_image/public/2021-12/%E5%85%A8%E7%90%83%E7%94%B5%E5%8A%A8%E8%BD%A6%E9%94%80%E9%87%8F.jpg?itok=qoPF_Hjk" width="690" /><br />所谓电动车,意指依靠电能驱动的车辆,有别于目前普及全球,以汽油、柴油驱动的车辆。电动车之所以摇变交通运输业新星,凭的是“环保”、“零排放”光环,与主要经济体宣之于口的环境、社会与监管(ESG)理念遥相呼应。<br /><br />视线转向大马,我国有否跟上脚步?其实,本地对电动车的概念并不算陌生。<br /><br />早在2013年,我国已迎来第一款电动车品牌——日产聆风(Nissan Leaf)进驻,尔后也陆续有宝马iX、宝马迷你SE、保时捷Taycan等车款亮相。<br /><br />回顾电动车政策之路,我国政府曾透过《2011年财政预算案》建议,为整装进口(CBU)、本地组装(CKD)电动车和混合动力汽车(Hybrid Vehicle),豁免进口及国产税。政策上路后,相关车价明显下滑。<br /><br />在2013年,混合动力汽车销量也冲上1万8967辆,比2010年的322辆高出接近58倍。但在2014年后,CBU车辆税务豁免措施遭到喊停,以致于其价格吸引力远比CKD车辆逊色。<br /><br />电动车<br /><br />带动产业链兴起<br /><br />时序来到今年,又有了新突破。政府在《2022年财政预算案》中建议,全面豁免电动车进口、国产和销售税。<br /><br />同时,购买、安装、租用电动车相关设施,也可享有2500令吉个人所得税减免。<br /><br />MARii总执行长拿督玛迪尼接受本报访问时表示,上述政策无疑是我国发展电动车科技、相关经济活动里程碑,“这有助于刺激消费者需求,并带动整条产业链兴起。”<br /><br />前瞻政策提振购兴<br /><br />该政策也获得券商看好。兴业投行研究分析员杜玮清,对本报指出,上述电动车激励措施颇令人鼓舞,并堪称推升电动车采用率的一剂强心针。<br /><br />“这是很好的起点,因税务豁免将缩短电动车和燃油车之间的价格差距。”<br /><br />据杜玮清的观察,早前国内最便宜的电动车款为日产聆风,价格约为18万令吉;而上述政策公布后,市场上已出现更便宜的车款,例如近期推出的现代Kona,价格约莫15万令吉。<br /><br />同时,马银行投资研究,亦在本月9日发布报告直言,历经长时间的磕磕绊绊,我国电动车发展终于迎来曙光。<br /><br />大马纯电动车价格<br /><img alt="大马纯电动车价格" class="img-fluid" height="424" src="https://www.enanyang.my/sites/default/files/styles/media_image/public/2021-12/%E5%A4%A7%E9%A9%AC%E7%BA%AF%E7%94%B5%E5%8A%A8%E8%BD%A6%E4%BB%B7%E6%A0%BC.jpg?itok=KtK2KHnz" width="690" /><br />出现更便宜车款<br /><br />“在我们看来,这是一项具有前瞻性的政策,可在我国转向低碳经济的当儿,激发国人购买电动车的意愿。”<br /><br />电动车站上舆论风口之际,MARii也先后和EP制造(EPMB,7773,主板工业股)、Pecca集团(PECCA,5271,主板工业股)签署了解备忘录,个别探讨电动车组装、零件制造项目的可能。<br /><br />各造人士的一言一行都在传达,发展电动车是大势所趋的讯息。但我国和电动车普及的距离,究竟还有多遥远?<br /><br />和市场专家对话后,本报归纳出,在电动车发展之路,我国必须解决以下的四大难题。<br /><br />4大难题急需解决1:缺少充电桩——充电桩难满足需求<br /><br />若说燃油车需要添油站来续航,那电动车要长时间奔驰的话,充电桩实在不可或缺。这无疑是我国电动车发展的一大软肋。<br /><br />大马车业总会长拿督许综文,接受本报访问时说,充电桩可分为“快充”和“慢充”。其中,慢充电桩颇为散见于我国公寓、购物商场等,数量估计不少于400座。<br /><br />但若要大力发展电动车,慢充电桩根本无法满足庞大的充电需求。许综文表示,使用慢充电桩的话,至少需要8小时才能将电动车充满电;相比之下,为燃油车添油用不上10分钟。<br /><br />“此外,续航力也是一大痛点。价格10余万令吉的电动车,续航力只有约350公里。”<br /><br />许综文续说,续航力350公里的电动车实际行驶在道路上,恐怕也仅有250公里左右,因交通阻塞、天气炎热让驾驶者开大空调,会造成续航力大打折扣。<br /><br />加大马力增设充电桩<br /><br />“一部实际续航力仅有200公里左右的电动车,可以行使多远距离?若我是车主,也只敢在吉隆坡环绕,别想着开去怡保、槟城等地方。”<br /><br />至于快充电桩,可在一小时内将电力充上85%。惟许综文表示,国内快充电桩数量少之又少,估计不超过20座。<br /><br />“若要发展电动车,政府必须祭出优惠措施,吸引更多企业投资,在全马建造足够充电桩。同时,国家能源(TENAGA,5347,主板公用事业股)也得在配电方面予以配合。”<br /><br />“若无法解决充电问题,谁会考虑购买电动车?”<br /><br />同时,杜玮清形容,充电桩数量和电动车需求之间,存在着“先有鸡还是先有蛋”的问题。由于目前仍缺少充电桩,国人对电动车的需求依然保持在低位。而后者也造成,各大公司在投资增建充电桩方面裹足不前。<br /><br />“因此,大家需要在两者之间取得平衡。令人鼓舞的是,大马绿色科技与气候变化机构(MGTC),已和国家能源、云升控股(YINSON,7293,主板能源股)等上市能源巨头合作,在西马新增逾2500座充电桩。”<br /><br />无论如何,马迪尼亦表示,在充电桩投资方面需步步为营,因充电科技总是瞬息万变。<br /><br />2:国人难负担——车价逾15万难畅销<br /><br />在价格方面,电动车与燃油车存在一定差距。如杜玮清所言,近期面世的现代Kona电动车款,价格约为15万令吉。<br /><br />再往上看,价格相对平易近人的有日产聆风和宝马迷你SE,价格分别为18万及将近22万令吉;保时捷Taycan则相对昂贵,大约58万令吉。<br /><br />许综文表示,目前国内最畅销的车款是第二国产车(Perodua),市占率约有40%。<br /><br />“第二国产车这么畅销,原因是价格廉宜,仅介于3万至7万令吉之间。第二畅销车款宝腾(Proton)的X70则价格10万令吉左右。而电动车动辄15万令吉以上,且续航力仅有350公里,有多少人可以负担?”<br /><br />油价便宜成绊脚石<br /><br />因此,在许综文看来,中短期内电动车的买家可能仅限于富人圈子。<br /><br />“此外,还有怀着好玩、好奇心态的人,及热衷环保人士才愿意购买电动车。但相关族群恐怕占买车总人数不超过2%。”<br /><br />对此,马迪尼拥有相同见解,“在中短期内,电动车依然倾向于时尚选择,而非燃油车的替代品。”<br /><br />另一方面,许综文亦认为,国内汽油价格相对便宜,也是电动车普及化的绊脚石。<br /><br />“若转用电动车并没有节省多大开销,很难说服普罗大众购买电动车。”<br /><br />3:国库添负担——传统车税难以为继<br /><br />在市场人士看来,政府加强发展电动车,无疑与现时汽车业税收制度格格不入,落入顺得哥情失嫂意的窘境。<br /><br />许综文表示,纵观政府整体收入来源,传统汽车业贡献的税收占据相当显著的份额。此时若要拉高电动车使用率,政府难免要牺牲一部分传统汽车业税收。<br /><br />车业贡献经济近5%<br /><br />“政府发展电动车的当儿,会损失相当多税收,同时还要投资一大笔在增建充电桩等电动车设施。这对我国经济发展是一大负担。因此,在推动电动车普及化的同时,政府是否有钱补贴?”<br /><br />早在今年8月,兴业投行研究已发布报告指出,传统汽车业缴交的税,是政府一大重要收入来源。<br /><br />“国际贸易及工业部的资料也显示,在2019年,汽车业已对我国经济发展贡献4.9%。”对此,该券商认为,政府推升电动车使用率的理念,会与现时收入产生冲突。<br /><br />“给予的电动车激励措施愈大或电动车使用率愈高,我国政府愈需要放弃更多税收收入。”<br /><br />另一方面,政府延长汽车销售税豁免期,亦会拖累整体收入。据10月发布的《2022年财政报告书》,在该优惠措施的冲击下,今年销售税收入估计减少0.9%,报265亿令吉。<br /><br />4:无长远政策——政策不明难为车商<br /><br />豁免电动车税务,只是漫漫长路的第一步。<br /><br />电动车发展能否遍地开花,后续政策是主要晴雨表。<br /><br />杜玮清表示,我国电动车政策仍缺乏清晰和透明度,“我们希望政府能在低碳汽车蓝图中透露更多细节,唯有这样,汽车组装和分销商才能掌握更详细资讯,作为加码投资的依据。”<br /><br />他续说,和其他东盟国家相比,我国电动车政策实在相形见绌。以泰国为例,除了尝试降低电动车价格,和给予消费者优惠措施之外,该国政府还面向电动车组装商,尽可能地吸引更多资金进入相关领域。<br /><br />与此同时,杜玮清也建议政府在地方法规下手,推动发展商将充电设施的建造,整合进手上发展项目。<br /><br />“若要电动车普及,办公室和公寓必须有足够充电桩,目前来看,很多公寓都没有充电桩可使用。”<br /><br />考验环保理念<br /><br />另一方面,许综文解释,电动车赖以行驶的电池一般有8年寿命。<br /><br />若太频密走动,寿命则仅有6年左右。<br /><br />他续指,更换电池后,如何处理留下的废电池是一个头疼的问题;处理不当的话,会对环境带来严重污染,这与原先倡导的环保理念背道而驰。<br /><br />“6到8年后,我们将需要处理大量废电池,政府想好了要怎么下手吗?”<br /><br />他补充,先进国家目前正找寻合适的方案,例如收集足够的电池为商场储电,也就是把电池的使用时间拉长一些。<br /><br />许综文总结,非税障碍才是最大绊脚石,别单纯地认为免税后,电动车发展将畅行无阻。<br /><br />2020年电动车区域销量<br /><img alt="2020年电动车区域销量" class="img-fluid" height="536" src="https://www.enanyang.my/sites/default/files/styles/media_image/public/2021-12/2020%E5%B9%B4%E7%94%B5%E5%8A%A8%E8%BD%A6%E5%8C%BA%E5%9F%9F%E9%94%80%E9%87%8F.jpg?itok=bDCyr9vM" width="427" /><br />本地电动车概念股未成形<br /><br />纵观整个马股,目前仍没有上市公司,已参与电动车的组装,充其量只是进口和分销电动车。<br /><br />例如,柏马汽车(BAUT,5248,主板消费股)正计划起亚EV6、Niro EV、标致3008等电动车款。<br /><br />该公司也正和马自达(Mazda)商讨,在国内市场推出MX30电动车。<br /><br />同时,陈唱摩多(TCHONG,4405,主板消费股)则在国内分销日产聆风、雷诺Zoe电动车,这两品牌个别占全球电动车市占率的2%及3%。<br /><br />此外,森那美(SIME,4197,主板消费股)分销宝马、现代汽车旗下电动车款。该公司亦在今年11月中宣布成立特别队伍,并出资4200万令吉在电动和共享车领域里探讨商机。<br /><br />另一边厢,合顺(UMW,4588,主板消费股)已出资2亿7000万令吉在武吉拉惹工厂,设立混合动力车(HEV)的组装线。<br /><br />在整条电动车供应链中,国内汽车股暂时只沾到进口、分销的部分,原因何在?<br /><br />组装业务暂无利可图<br /><br />许综文分析,和燃油车相比,电动车在全马的销量少之又少,因此考量到规模效益不达标,汽车企业不太可能进军电动车组装业务。<br /><br />“若要在组装活动取得规模效益,我国电动车年销量需至少一万辆。但目前则只有区区数百辆,组装电动车根本无利可图。”<br /><br />他续说,设立一家完整的组装厂,至少需花费数亿令吉,故综合成本和市场需求考量,国内汽车股距离电动车组装活动,还很遥远。<br /><br />杜玮清看法一致,说在中短期内,国内汽车股料会侧重于进口、分销电动车。<br /><br />待详细、亲投资者的汽车政策出台后,组装活动才有望明朗化。<br /><br />一众汽车股里,杜玮清比较看好森那美,因该公司分销的电动车款相对繁多。<br /><br />http://www.enanyang.my/%E8%B4%A2%E7%BB%8F%E6%96%B0%E9%97%BB/%E3%80%90%E7%8B%AC%E5%AE%B6%E3%80%91%EF%BC%94%E5%A4%A7%E9%9A%9C%E7%A2%8D%E6%8C%A1%E9%81%93-%E5%A4%A7%E9%A9%AC%E7%94%B5%E5%8A%A8%E8%BD%A6%E9%9A%BE%E7%95%85%E8%A1%8C<br /></p>Adminhttp://www.blogger.com/profile/16609839271303069034noreply@blogger.comtag:blogger.com,1999:blog-25058915.post-87943444195816582572021-11-15T19:41:00.001+08:002021-11-15T19:41:28.023+08:00【独家】成本高·竞争大·汇率波动 太阳能发电3隐忧<p>【独家】成本高·竞争大·汇率波动 太阳能发电3隐忧<br /><br />太阳能<br /><br />独家报道:萧维旸<br /><br />永续意识使然,全球吹起一股再生能源风潮,我国自然也不例外。<br /><br />据政府设下的目标,到了2025年,我国再生能源发电比重将从现时的22%提高至31%。其中,太阳能发电是这项变化的重中之重。<br /><br />这是因为,和其它再生能源相比,太阳能胜在资本支出、工程复杂程度较低。有鉴于此,我国分阶段落实大型太阳能项目,为再生能源发展鸣锣开道。<br /><br />但综合市场人士的看法后,本报总结出仍有三大绊脚石横亘在前,即成本高昂、竞争激烈及汇率波动,以致太阳能发电参与者未必顺风顺水。<br /><br />行业玩家抢攻太阳能发电<br /><br />全球绿色意识抬头,我国也开始掀起一波再生能源革命。<br /><br />配合上述理念,大马能源委员会透过《2020年大马半岛发电发展计划》设下目标,在2025年将再生能源发电比重,从目前的22%拉升至31%。<br /><br />在这期间,将陆续有热电厂暂停营运,留下的发电缺口由再生能源补上。<br /><br />政府也在《2022年财政预算案》中进一步强调,在2050年将我国打造成碳中和经济体;而国家能源(TENAGA,5347,主板公用事业股)也表态,会大力支持政府的绿色议程。<br /><br />截至2020年,西马的再生能源发电量为4058兆瓦,占全国总发电量的22%左右,其中,水力发电是主要贡献来源。若要在2025年达到31%比重,至少得将再生能源发电量大幅拉升110%至8531兆瓦。<br /><br />所谓再生能源,包括水力、太阳能、风力及沼气发电等。<br /><br />发电组合<br /><br />93%新能源来自太阳能<br /><br />但我国目前比较盛行的,则是水力和太阳能。而能委会推出的大蓝图中,估计有93%的新增再生能源,将来自太阳能。<br /><br />这是因为,和水力发电厂相比,建造太阳能发电设施涉及的资本支出、工程复杂程度、地理环境限制较少,因而成为我国再生能源发展的重中之重。<br /><br />另外,我国地理位置靠近赤道、气候常年如夏,也为太阳能发电创造许多有利条件。<br /><br />为推动太阳能走上发电主流,能委会在2016至2021年间,分五阶段为“大型太阳能项目”(LSS)进行公开招标。<br /><br />所谓LSS,简单来说就是允许得标者,透过太阳能光伏电站自行发电,随后再出售给电网公司。<br /><br />上述五阶段的LSS项目,涉及的发电量总计2457兆瓦,其中LSS4比重最高,达823兆瓦。<br /><br />值得一提的是,得标名单中不乏非太阳能或能源领域业者,如MK置地(MKLAND,8893,主板产业股)、陈唱摩多(TCHONG,4405,主板消费股)、APM汽车控股(APM,5015,主板工业股)等,反映出各大行业玩家,已开始布局太阳能发电。<br /><br />绿色企业争相上市<br /><br />视线转向首次公开售股(IPO)。近两三年马股也已出现不少和太阳能业挂钩的新脸孔,首先是2019年上市的阁代科技(GREATEC,0208,主板科技板),有为太阳能领域提供工厂自动化解决方案的业务。<br /><br />在该年上市的,还有太阳能工程 、采购、施工和调试(EPCC)承包商Solarvest(SLVEST,0215,主板工业股)。另外,同样涉足太阳能领域的Samaiden集团(SAMAIDEN,0223,创业板)、柏卡集团(PEKAT,0233,创业板),也先后在去年和今年上市。<br /><br />同时,建筑商朝建集团(NESTCON,0235,创业板)也在今年9月,和狮城凯利板上市公司惠胜置地签联营协议,合力发掘国内太阳能光伏领域商机。<br /><br />政府政策和各公司举措,都在接二连三告诉大众,太阳能发展是大势所趋。但美好的想法一旦付诸实践,难免会处处碰壁。<br /><br />综合市场专家的说法,本报总结出太阳能发电业仍有三大绊脚石。<br /><br />疫情爆发期间,各大行业都吃尽停工停产的苦头,太阳能业自然无法幸免于难。<br /><br />柏卡集团发布的招股书坦言,政府抗疫管制措施已拖慢太阳能工程进展和合约取得速度,以致于原本可以在2020财政年末季认列的350万令吉收入,延迟至2021财年次季。<br /><br />同样在疫情间上市的Samaiden集团,也曾面临相同窘境。其招股书透露,在行动管控令期间,所有项目必须暂时搁置。<br /><br />无论如何,随着疫情好转、政府逐步松绑经济活动,工程备受拖累的问题似乎雨过天青。<br /><br />但这并不意味着,太阳能发电业,未来发展必然通畅无阻。<br /><br />该行业面临的问题,还有发电站建造成本高涨、业内竞争激烈,以及汇率波动。<br /><br />再生能源<br /><br />三大绊脚石<br /><br />1. 发电站成本高<br /><br />太阳能板价格涨势不断,会侵蚀发电站持有人及承包商的投资回酬。<br /><br />兴业投行研究分析员发布报告指出,太阳能板的价格依然居高不下,企于每瓦0.28至0.29美元,远远超出去年6月LSS4竞标阶段时的0.20至0.21美元。<br /><br />“太阳能板价格高企,归因于全球经济复苏,带动原料价格大涨。”<br /><br />所谓原料,指的是多晶硅和铝。多晶硅现货平均价格已按年暴涨1.9倍,报每公斤27.30美元;铝价格则在9月按年升约50%至每吨2600令吉。<br /><br />“太阳能板价格上涨会冲击太阳能资产拥有者,尤其是计划在明年底、2023年完成建造发电站的LSS4的得标者。”<br /><br />分析员也指,纵观整个发电站建造计划,太阳能板的采购,无疑是最主要的成本,至少占据33%的资本开销。<br /><br />“每当太阳能板价格上涨30%,资本开销将增10%。”<br /><br />分析员了解到,所有太阳能资产拥有者,和EPCC承包商都被迫扛下成本压力,至于孰轻孰重,取决于双方的谈判能力。<br /><br />“手握大宗订单的EPCC承包商,往往享有更优的规模效益,而Solarvest会是这方面的佼佼者。”<br /><br />与此同时,分析员也了解到,部分得标者计划将采购推迟到明年,毕竟他们相信恐慌抢购潮、投机商囤积原料现象一过,太阳能板价格就会迅速回调。<br /><br />在分析员看来,鉴于光伏组件安装工程可在半年内完事,上述策略并不会严重拖累竣工期。<br /><br />然而,太阳能板价格下滑,不代表发电站拥有者铁定迎来可观投资回报。<br /><br />达证券分析员表示,相关业者还得承担其他费用,例如地皮购买、建造链接电网的设施等。<br /><br />另一边厢,LSS项目的电费急剧下滑,也是隐忧。<br /><br />据分析员说法,在LSS4发电量介于30至50兆瓦的项目,电价已从5年前的每千瓦时39至48仙,下滑近60%,至17.7仙至19.7仙间。<br /><br />“因此,LSS4的内部回报率,仅有中低个位数。”<br /><br />2. 业内竞争激烈<br /><br />众多业者进场抢滩,恐怕会侵蚀公司的赚幅。<br /><br />Samaiden集团的招股书就提到,正面临国内外同行的竞争,且彼此提供的服务可能大同小异。<br /><br />“若竞争对手以更具吸引力的价格提供EPCC服务,我们在争取合约时,不得不调降价格。长久下来,这会冲击赚幅。”<br /><br />该公司也坦言,一些扎根这行业已久的国外同行,确实具备更雄厚财力和营销资源,较容易获得客户青睐。<br /><br />截至今年5月5日,共有163家太阳能光伏服务商获大马永续能源发展局颁发执照;同时,共有141家太阳能光伏设施承包商,获大马建筑工业发展局许可。<br /><br />有鉴于此,柏卡集团的招股书也直言,若同行不惜大打削价战,该公司也被迫同步降价,难免侵蚀盈利。<br /><br />所谓竞争,当然不局限于业内玩家;各类再生能源之间,也存在激烈过招的现象。<br /><br />如前文所述,除太阳能,再生能源还包括沼气、生物质、水力及地热发电等。<br /><br />Solarvest的招股书就坦言,在发电量和价格方面,这些替代能源都是潜在竞争者。<br /><br />“尽管我国政府正透过LSS项目大力发展太阳能发电,但大家都无法保证,相关措施会永久存在。若竞争对手能以更吸引的价格提供替代能源方案,我们可能会失去这些项目。”<br /><br />在达证券分析员看来,太阳能发电依然面对运行时间有限的窘境,即只能在白天运作,且发电量的高低得看气候脸色。<br /><br />3. 建材汇率波动<br /><br />鉴于部分发电站建材来自海外,因此,太阳能业者难免要扛下汇率波动风险。<br /><br />柏卡集团直言,部分建材供应者是海外商家,故该公司需透过美元采购建材。在2019和2020财年,建材采购费用分别为3850万及4150万令吉。<br /><br />而令吉兑美元汇率每遇上5%的波幅,且柏卡集团无法将成本转嫁予客户,该公司的赚幅也会随之起伏剧烈,幅度介于1900万至2100万令吉。<br /><br />Samaiden集团也表示,太阳能光伏组件和逆变器均以美元计价,一旦汇率激烈波动,将对营收、销售成本、盈利带来显著影响。<br /><br />cypark赚幅<br /><br />行家比一比:Solarvest vs Cypark<br /><br />据马银行投资研究的观察,Cypark资源的净赚幅普遍超过20%;对比之下,Solarvest的赚幅则处于6%至18%之间。<br /><br />有此落差,归因于Cypark资源可从电力销售获得稳定收入,总容量为40兆瓦。其中29兆瓦是在电力回购(FiT)计划下进行,平均电价为每千瓦时93仙。<br /><br />Solarvest在2019和2020财年赚幅相对逊色的原因,是LSS项目EPCC工程带来的赚幅,比不上住宅、商业和工业建筑屋顶光伏系统装设。<br /><br />另一方面,由于Cypark资源正扩大在太阳能光伏、转废为能(WTE)这两大重资产领域的足迹,因此资产负债表将大受影响。<br /><br />分析员表示,截至今年4月底,Cypark资源的净负债率超过1倍。<br /><br />“无论如何,随着上述资产开始创造盈利和现金流,我们预计在2023财年起,负债率将逐步缓和。”<br /><br />反观Solarvest,打从2019年上市起,一直处于净现金状态。<br /><br />Cypark发电量将增5倍<br /><br />评级:买入 目标价:RM1.35<br /><br />马银行投资研究表示,Cypark资源目前在国内拥有和营运18座太阳能发电站,总发电量为40兆瓦。明年完成LSS2和LSS3项目后,该公司管理的发电量,将扩大逾5倍至230兆瓦。<br /><br />此外,Cypark资源也正在森美兰开发首座WTE工厂,目前处于调试阶段。值得一提的是,该公司亦竞标着柔佛和马六甲的WTE项目,成功后有望提振盈利。<br /><br />分析员相信,短期内再生能源、WTE业务,将支撑Cypark资源业务的成长。<br /><br />与此同时,分析员也估计,电力销售带来的税前盈利,可在3年内迎来17%的年均复增(CAGR),并在2023财年达到4200万令吉。<br /><br />同时,废料管理和WTE业务,估计可在2023财年贡献1400万令吉税前盈利,占总额的10%。<br /><br />“总的来说,我们预计Cypark资源可在2020至2023财年,获得18%的净利年均复增。”<br /><br />尽管Cypark资源已制定派息政策,股息支付率为25%,但在2019和2020财年,该公司并没有派息,而是保留现金扩充业务。<br /><br />分析员估计,该公司会在2022财年开始恢复派息,毕竟那时候大部分再生能源资产,已开始投运和创造现金流。<br /><br />“以25%股息支付率来看,我们预测2022、2023股息,分别为3.50及4.10仙,意味着周息率处在3.6%和4.2%水平。”<br /><br />Solarvest拥近6亿订单<br /><br />评级:守住 目标价:RM1.45<br /><br />在马银行投资研究看来,Solarvest是太阳能光伏专才,主要提供EPCC服务。截至9月中,该公司手上未完成订单价值5亿8300万令吉,相等于2021财年营收的2.6倍。<br /><br />截至2021财年,该公司已在国内安装大约360兆瓦的太阳能光伏系统,横跨LSS项目、住宅、商业和工业建筑。<br /><br />与此同时,Solarvest也计划竞标8到10项有关LSS4和净电能计量3.0(NEM 3.0)的合约,价值介于6亿至7亿令吉。<br /><br />年初至9月,该公司已从LSS4拥有者争取到4项EPCC合约,总值3亿7100万令吉。<br /><br />值得一提的是,马拉卡(MALAKOF,5264 ,主板公用事业股)和Lagenda产业(LAGENDA,7179,主板产业股)已委任Solarvest为屋顶太阳能光伏系统的EPCC承包商。<br /><br />放眼海外,该公司计划拓展在菲律宾、台湾太阳能光伏市场的足迹。目前,台湾市场已是第二大营收来源,仅次于我国市场。<br /><br />另外,截至2021财年,Solarvest手握7800万令吉净现金,或每股12仙,未来可借此争取更多项目。<br /><br />盈利预测方面,分析员估计Solarvest可在2021至2024财年,获得32%的年均复增。<br /><br />http://www.enanyang.my/%E8%B4%A2%E7%BB%8F%E6%96%B0%E9%97%BB/%E3%80%90%E7%8B%AC%E5%AE%B6%E3%80%91%E6%88%90%E6%9C%AC%E9%AB%98%C2%B7%E7%AB%9E%E4%BA%89%E5%A4%A7%C2%B7%E6%B1%87%E7%8E%87%E6%B3%A2%E5%8A%A8-%E5%A4%AA%E9%98%B3%E8%83%BD%E5%8F%91%E7%94%B53%E9%9A%90%E5%BF%A7<br /><br /></p>Adminhttp://www.blogger.com/profile/16609839271303069034noreply@blogger.comtag:blogger.com,1999:blog-25058915.post-7742744379182903062021-07-20T17:43:00.001+08:002021-07-25T15:21:14.346+08:00Courts orders Tan Chong to return repossessed buses to Konsortium Transnasional, pay over RM23m<p><span></span></p><a name='more'></a><br />Courts orders Tan Chong to return repossessed buses to Konsortium Transnasional, pay over RM23m<br /><br />KUALA LUMPUR (July 19): Konsortium Transnational Bhd and six other companies linked to the group have succeeded in their lawsuit to get Tan Chong Motor Holdings Bhd to return all buses repossessed from them and to repay a sum of RM22.68 million.<br /><br />In a filing with Bursa Malaysia, Tan Chong said the High Court has also ordered the return of a land acquisition compensation sum of RM877,000 by its wholly-owned unit, Tan Chong Industrial Equipment Sdn Bhd (TCIE), to the seven companies.<br /><br />Besides Konsortium Transnasional, the six other companies are Transnasional Express Sdn Bhd, Plusliner Sdn Bhd, Syarikat Kenderaan Melayu Kelantan Bhd (SKMK), Syarikat Rembau Tampin Sdn Bhd (SRT), Kenderaan Langkasuka Sdn Bhd and MHSB Properties Sdn Bhd.<br /><br />Five of them — Transnasional, Plusliner, SKMK, SRT and Langkasuka — had owed TCIE RM32.92 million in outstanding rentals and service bills for the leases and maintenance of the vehicles.<br /><br />According to Tan Chong, a settlement agreement for the debt was reached on July 4, 2016, under which the debtors agreed to repay RM16.92 million in several cash instalments to TCIE, and transfer a plot of land in Ampang owned by MHSB to TCIE to settle the remaining RM16 million.<br /><br />"Pursuant to the settlement agreement, a sale and purchase agreement was entered into between MHSB and TCIE on July 4, 2016 for the sale of the land.<br /><br />"The plaintiffs failed to make timely repayments of the balance debt. Hence, TCIE exercised its contractual rights under the settlement agreement to repossess the vehicles leased to the debtors," said Tan Chong.<br /><br />In their legal action, Konsortium Transnasional and the other six companies sought an injunction to restrain TCIE from entering into any dealings in relation to the Ampang land, a declaration that the value of the land is RM55.6 million, the repayment of the sum of RM22.68 million, the return of the vehicles, and the sum of RM877,000 being compensation paid by the government for the acquisition of part of the land.<br /><br />Tan Chong said that based on the advice of its solicitors, TCIE is of the view that there are reasonable grounds to appeal the judgement.<br /><br />"TCIE has instructed its solicitors to file a notice of appeal and apply for a stay of execution of the judgement of the High Court.<br /><br />"Should TCIE fail in its contestation of the case, (Tan Chong) is of the opinion that the group is able to fulfil the commitment to the above-mentioned claim and does not expect any significant impact on the net assets per share of the group," said Tan Chong.<br /><br />Tan Chong shares closed three sen or 2.5% lower at RM1.17, giving the group a market capitalisation of RM786 million. The group saw 10,000 shares traded.<br /><br />Konsortium Transnasional shares closed unchanged at 12 sen, valuing the group at RM402 million, with 148,500 shares changing hands.<br /><br />http://www.theedgemarkets.com/article/courts-orders-tan-chong-return-repossessed-buses-konsortium-transnasional-pay-over-rm23m<br /><p></p>Adminhttp://www.blogger.com/profile/16609839271303069034noreply@blogger.comtag:blogger.com,1999:blog-25058915.post-14147065428587228212021-06-05T23:18:00.001+08:002021-06-05T23:18:27.357+08:00Making cents out of solar<p><span></span></p><a name='more'></a><br /><br />
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<p class="caption">Solar power on the spotlight</p>
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<p>A SUDDEN and steep rise in the cost for solar panels
seems to have thrown a spanner in the works of the burgeoning solar
power industry.</p> <p>All this while, the success of the industry,
which captures energy from the sun and converts it into electricity, has
been its gradually lowering costs and its green credentials – reasons
which have made it the fastest-growing power source in the world.</p> <p>But
now, solar panels or module prices have risen 18% since the start of
the year after the cost had fallen dramatically over the past decade.</p> <p>Locally,
a flurry of listed companies have also jumped into this space, banking
that it is the next big growth industry due to the global shift towards
renewable energy (RE).</p> <p>Following the rise in the cost of solar
panels, one issue relates to the impact on local large-scale solar (LSS)
power energy projects, the latest being the LSS4, which was awarded
about two months ago.<br /><br /><span class="embeded-image inline-image-center"><img alt="Rising cost: The increase in the cost of solar panels is due to the rise in the raw materials that go into making them as well as freight charges due to Covid-19." class="img-fluid" src="https://apicms.thestar.com.my/uploads/images/2021/06/05/1173219.jpg" style="height: 413px; width: 620px;" /><span class="inline-caption">Rising
cost: The increase in the cost of solar panels is due to the rise in
the raw materials that go into making them as well as freight charges
due to Covid-19.</span></span></p> <p>The increase in the cost of solar
panels is due to the rise in the raw materials that go into making them
as well as freight charges due to Covid-19.</p> <p>Polysilicon, an
essential material in solar photovoltaic (PV) manufacturing, is seeing a
severe supply squeeze, which is good for suppliers but not so good for
solar manufacturers.</p> <p>Prices of polysilicon, for example, have
jumped from US$6.19 (RM25.63) per kg to US$25.88 (RM107.17) per kg in
less than a year, according to German research firm Bernreuter Research.</p> <p>Prices
of other materials in the production of a PV cell and module – such as
copper, iron-ore and aluminium – have also soared, fuelled by a global
demand recovery as some economies bounce back from the Covid-19 pandemic
and the energy transition trend, which serves major economies’ carbon
neutralisation targets.</p> <p>Part of the reason for the price hikes
in solar panels is the United States, where President Joe Biden had
unveiled a massive infrastructure stimulus that involved catalysing
investments into green energy projects such as solar power.</p> <p>Research
analysts tracking the global solar industry point out that the
disruption taking place has not been this bad over the last decade and
said that project owners and governments are going to have to stop
expecting solar to get much cheaper quickly.</p> <p>A recent Bloomberg
report said the higher prices may delay some large-scale projects in the
United States to Canada, China and India.</p> <p>Hence the question: How will this development impact Malaysia’s green energy goals?</p> <p>Malaysia’s
installed solar power capacity has been experiencing a “superior”
compounded annual growth rate of more than 50% in the last five years,
points out Kenanga Research in a recent report.</p> <p>By 2025, the
country has a target of achieving 31% RE in the power capacity mix, from
the previous goal of 20%, to be mainly driven by growth in new solar PV
capacities.<br /><br /><span class="embeded-image inline-image-center"><img alt="" class="img-fluid" src="https://apicms.thestar.com.my/uploads/images/2021/06/05/1173451.jpg" style="height: 274px; width: 350px;" /></span></p> <p>The
RE capacity mix for Malaysia is projected to increase to 40% by 2035,
according to the Peninsular Malaysia Generation Development Plan
2021-2039, which was released by the Energy Commission in March. During
this horizon, the combined share of gas and coal is foreseen to drop
from 82% to 69%.</p> <p>Temporary phenomenon</p> <p>The Energy and
Natural Resources Ministry, in a reply to StarBizWeek, believes that the
hike in material costs of solar PV is “a temporary phenomenon”.</p> <p>“Therefore,
it shall not have a long-term impact on efforts to attain the RE
target, which the government has set forth, ” it adds.</p> <p>To
achieve the 31% goal, 1,178 megawatt (MW) of new RE capacities will be
developed in Peninsular Malaysia from 2021 onwards, the generation
development plan indicates.</p> <p>The additional capacities will consist of 1,098MW of solar and 80MW of non-solar.</p> <p>Currently, RE contributes 15% for the energy mix for Peninsular Malaysia, while for the whole of Malaysia, it stands at 22%.</p> <p>Malaysia has been moving towards large-scale solar projects since 2016 with the commissioning of LSS projects.</p> <p>The
LSS4, which has the largest capacity under this scheme, is touted as an
engine for the country’s post-Covid comeback where RM4bil in investment
is expected to be unblocked and 12,000 new jobs created.</p> <p>The 30
winning bids announced for LSS4 – 500MW awarded under Package P2 and
323MW under Package P1 – had tariffs ranging from 17.68 sen to 24.81 sen
per kilowatt hour (kWh). That is the price at which the applicant
intends to sell their solar-generated electricity into the country’s
electricity grid, while still making the venture a profitable one. The
developers have until the end of 2023 to get their plants connected to
the grid.<br /><br /><span class="embeded-image inline-image-center"><img alt="" class="img-fluid" src="https://apicms.thestar.com.my/uploads/images/2021/06/05/1173450.jpg" style="height: 1111px; width: 500px;" /></span></p> <p>It
should be noted that those tariffs are lower than what companies had
proposed in the earlier iterations of large-scale solar projects. The
reason is that solar panel costs have generally been on a downward slide
over the years, coupled with enhanced efficiencies of new panels that
are able to generate more electricity per panel.</p> <p>During LSS1,
the lowest bid was 39 sen per kWh; for LSS2, the lowest bid was 33.98
sen per kWh; while for LSS3, it stood at 17.78 sen per kWh.</p> <p>It
should also be noted that not all winning bidders of the earlier LSS
schemes have been able to complete their projects on time.</p> <p>Large-scale
solar projects have their fair share of challenges because of
unattractive rates and the requirement for vast tracts of land, which
has resulted in the solar plants being located far away from the main
grid.</p> <p>For LSS4, analysts have said that they projected
participating companies would be able to achieve an internal rate of
return (IRR) from mid-to-high single-digits and that capital expenditure
would hover around RM3mil to RM4mil per MW of capacity being installed.</p> <p>However, these numbers are likely to be affected by the recent increase in solar panel costs.</p> <p>Unlike LSS3, which comprised five shortlisted bidders with <a href="https://www.thestar.com.my/business/marketwatch/stocks/?qcounter=CYPARK" target="_blank">Cypark Resources Bhd</a><a href="https://charts.thestar.com.my/?s=CYPARK" target="_blank"><img class="go-chart img-fluid" src="https://cdn.thestar.com.my/Themes/img/chart.png" /></a>
being the only public listed winner, LSS4 had seen a much larger pool
of beneficiaries from a diverse mix of sectors. This included a
consortium comprising <a href="https://www.thestar.com.my/business/marketwatch/stocks/?qcounter=TCHONG" target="_blank">Tan Chong Motor Holdings Bhd</a><a href="https://charts.thestar.com.my/?s=TCHONG" target="_blank"><img class="go-chart img-fluid" src="https://cdn.thestar.com.my/Themes/img/chart.png" /></a>, <a href="https://www.thestar.com.my/business/marketwatch/stocks/?qcounter=APM" target="_blank">APM Automotive</a><a href="https://charts.thestar.com.my/?s=APM" target="_blank"><img class="go-chart img-fluid" src="https://cdn.thestar.com.my/Themes/img/chart.png" /></a> Bhd and <a href="https://www.thestar.com.my/business/marketwatch/stocks/?qcounter=WARISAN" target="_blank">Warisan TC Holdings Bhd</a><a href="https://charts.thestar.com.my/?s=WARISAN" target="_blank"><img class="go-chart img-fluid" src="https://cdn.thestar.com.my/Themes/img/chart.png" /></a> (all belonging to the Tan Chong group), which is the first automotive group to be successful in an LSS bid.<br /><br /><span class="embeded-image inline-image-center"><img alt="" class="img-fluid" src="https://apicms.thestar.com.my/uploads/images/2021/06/05/1173454.JPG" style="height: 395px; width: 620px;" /></span></p> <p>The other listed beneficiaries are <a href="https://www.thestar.com.my/business/marketwatch/stocks/?qcounter=TENAGA" target="_blank">Tenaga Nasional Bhd</a><a href="https://charts.thestar.com.my/?s=TENAGA" target="_blank"><img class="go-chart img-fluid" src="https://cdn.thestar.com.my/Themes/img/chart.png" /></a> (TNB), <a href="https://www.thestar.com.my/business/marketwatch/stocks/?qcounter=RANHILL" target="_blank">Ranhill Utilities Bhd</a><a href="https://charts.thestar.com.my/?s=RANHILL" target="_blank"><img class="go-chart img-fluid" src="https://cdn.thestar.com.my/Themes/img/chart.png" /></a>, <a href="https://www.thestar.com.my/business/marketwatch/stocks/?qcounter=UZMA" target="_blank">Uzma Bhd</a><a href="https://charts.thestar.com.my/?s=UZMA" target="_blank"><img class="go-chart img-fluid" src="https://cdn.thestar.com.my/Themes/img/chart.png" /></a>, <a href="https://www.thestar.com.my/business/marketwatch/stocks/?qcounter=JAKS" target="_blank">JAKS Resources Bhd</a><a href="https://charts.thestar.com.my/?s=JAKS" target="_blank"><img class="go-chart img-fluid" src="https://cdn.thestar.com.my/Themes/img/chart.png" /></a>, <a href="https://www.thestar.com.my/business/marketwatch/stocks/?qcounter=GOPENG" target="_blank">Gopeng Bhd</a><a href="https://charts.thestar.com.my/?s=GOPENG" target="_blank"><img class="go-chart img-fluid" src="https://cdn.thestar.com.my/Themes/img/chart.png" /></a>, KPower Bhd, <a href="https://www.thestar.com.my/business/marketwatch/stocks/?qcounter=SLVEST" target="_blank">Solarvest Holdings Bhd</a><a href="https://charts.thestar.com.my/?s=SLVEST" target="_blank"><img class="go-chart img-fluid" src="https://cdn.thestar.com.my/Themes/img/chart.png" /></a>, Advancecon Holdings Bhd and MK Land.</p> <p>Players have different advantages and disadvantages</p> <p>Seasoned
solar power entrepreneur Boumhidi Abdelali (Adel) explains that solar
panels make up almost half of the cost in starting up a solar power
plant. “It is the single-largest cost item, so naturally, with prices
up, this will impact your project numbers, ” he explains.</p> <p>“This
is why it is important to take into account the prices of solar panels
and projections of how high it can rise to, by reading the global
marketplace. If you do not factor future price rises (of solar panels),
then this could potentially be a problem that could impede the viability
of your project, ” he says.</p> <p>Adel is the managing director of
reNIKOLA group of companies which has been involved in solar power
plants since 2015. The reNIKOLA group is being injected into listed firm
Pimpinan Ehsan Bhd.</p> <p>In addition to LSS programmes, reNIKOLA’s
growth plans include supplying solar energy to private companies, such
as multinational firms, via TNB’s grid. When asked what impact the spike
in solar panel prices will have on reNIKOLA’s business, Adel says:
“Yes, there will be minimal impact on profitability. But at the same
time, we have a bit more room and headway and are confident of our
numbers and profit margins. We have been a bit more conservative from
the start”.</p> <p>Industry experts say while the bidding process was
good, it unfortunately does not take into consideration the time to
market, unless it is a significant player with a lot of rolling stock of
panels, for example. On the other hand, new players would not have had
the basis to buy stock on the assumption that they would win the bid.</p> <p>Solarvest’s
group CEO Davis Chong (pic below) says with solar modules representing
some 40%-60% of the engineering, procurement, construction and
commissioning (EPCC) value of a solar project, any movement in prices
will inevitably have a direct impact on its project costs.<br /><br /><span class="embeded-image inline-image-center"><img alt="" class="img-fluid" src="https://apicms.thestar.com.my/uploads/images/2021/06/05/1173455.JPG" style="height: 409px; width: 620px;" /></span></p> <p>Listed
in late 2019, Solarvest provides turnkey EPCC and operations and
maintenance (O&M) services for solar systems and power plants in the
country.</p> <p>It is also the owner of a 1MWp solar PV plant in Kedah.</p> <p>Chong
says the price hikes were mainly driven by a shortage of raw materials
and strong demand within China as solar players there are expediting
their installation to meet the 2021 target of adding 55 gigawatts (GW)
to 65GW of solar PV capacity in China.</p> <p>“One way to mitigate this
is by implementing our value engineering expertise which includes
optimising the solar plant design and using high-quality substitute
materials which do not compromise on safety and performance for
components such as cables and other construction materials, ” he tells
StarBizWeek.</p> <p>That said, he too sees the situation to be a temporary one, posing a short-term challenge to the industry.</p> <p>He foresees the demand-supply curve to be more stable in 2022.</p> <p>“We
anticipate that some solar project owners may delay the delivery
timeline due to the temporary increase in solar module prices right now.
Once prices normalise, the installation process will accelerate
accordingly, ” he says.</p> <p>As for its LSS4 projects, he sees minimal impact as the projects are only scheduled to come on stream in 2022 and 2023.</p> <p>“There
is still some room. Reason being, the purchase of the solar modules are
usually done nearer to the tail end of a project, by which time we
anticipate prices would have returned to normal levels, ” Chong says.</p> <p>Samaiden
Group Bhd group managing director Chow Pui Hee believes that “solar
projects are still viable, although the return on investment of the
project developer would be affected”.</p> <p>Listed in October 2020,
Samaiden is primarily an EPCC provider of solar panels systems and power
plants and have carved a track record following contract wins from the
LSS1 and LSS2 schemes.</p> <p>reNIKOLA’s Adel says that each player has different advantages and disadvantages.</p> <p>“All
will be impacted, some more than others, ” he says. Variables include
solar panel stocks in hand, the ability to bulk purchase and balance
sheet strength, he points out.</p> <p>While no one knows for sure how
long the price rise in solar panels will be, or if it will trend higher
before stabilising at some point, most industry players remain confident
that solar power remains attractive, relevant and its growth will not
cease.</p> <p>A bright future</p> <p>“Solar is a key component of
Malaysia RE space. The rising demand for clean energy among the
multinational companies, coupled with the rollout of government-backed
programmes, are set to stimulate growth in the local market, ” says
Pimpinan Ehsan executive director Lim Beng Guan.</p> <p>On its part,
upon completion of reNIKOLA acquisition, Lim says the group plans to
aggressively expand in the RE sector and aims to own and operate one
gigawatt of RE assets in the future.</p> <p>“The plan is to first
expand our solar portfolio. Gradually, the company is looking to expand
into different verticals within the green energy sector, “ Lim adds.</p> <p>Notwithstanding the competition, Solarvest’s Chong believes that solar investments will continue to be in demand.</p> <p>“It
is an affordable and reliable source of RE, providing investors with
earnings visibility and stable recurring income over the long-term
tenure of 21 years as per the power purchase agreement, ” he adds.</p> <p>Moreover,
he says the short-term increase in solar modules is offset by lower
financing costs and attractive government tax incentives. This continues
to make solar investments a bankable industry.</p> <p>“In addition to
economic benefits, the environmental, social and governance (ESG) push
has also been the driver for adoption among multinational corporations.</p> <p>“We believe the increase in material costs will not be a big hindrance in the movement towards clean energy, ” adds Chong.</p> <p>Both
Solarvest and Samaiden are eyeing regional expansion. Kenanga Research
in a recent report noted that Solarvest is eyeing further forays into
the Philippines and Taiwan, where its channel checks suggest that EPCC
rates in the latter are higher at 12%-15% versus Malaysia’s LSS of
10%-12%.</p> <p>In April last year, Solarvest secured its maiden
contracts in the Philippines via two small EPCC projects. Meanwhile, in
Taiwan, the group recently acquired a 51%-stake in Tailai Energy Co Ltd
as a local partner, with operations expected to start by the middle of
this year.</p> <p>Together with its local partner, it will bid for rooftop feed-in-tariff projects.</p> <p>As
for Samaiden, the company is currently participating in some regional
tenders including in Vietnam, which is leading the way in RE adoption in
the region.</p> <p>“In Vietnam, we have set up offices and is in the
midst of negotiating and tendering for some rooftop solar EPCC works
together with local partners.“Regional prospect of RE/solar is very
encouraging, evidenced by the increasing of RE mixed target for the
countries, ” Chow adds.</p> <p>Meanwhile, Pekat Group Bhd, which is en
route to a listing on Bursa Malaysia’s ACE Market, aims to grow its
market share in the solar industry in the country.</p> <p>The solar PV
as well as earthing and lightning protection (ELP) specialist seeks to
raise RM44.4mil from its listing to expand its solar PV and ELP
businesses to take advantage and capture the anticipated growth in the
local solar industry in the near future.</p> <p>For 2021, the
International Energy Association (IEA) expects renewables to regain
momentum with delayed projects coming back online.</p> <p>In its latest
market update released last month, it said that renewables were the
only energy source for which demand increased in 2020 despite the
pandemic, while consumption of all other fuels declined.</p> <p>It
expects solar PV development to continue to break records, with annual
additions reaching 162 GW by 2022 – almost 50% higher than the
pre-pandemic level of 2019.</p> <p>China remains at the centre of
global renewable demand and supply, accounting for around 40% of global
renewable capacity growth for several years. The country is also the
largest manufacturer of solar panels and wind turbines, as well as the
biggest supplier of raw materials such as silicon, glass, steel, copper
and rare earth materials needed to build them.</p> <p>Supply chain
constraints, including due to a fire in a Chinese silicon factory last
year, have recently pushed up prices of PV modules, highlighting the
sector’s potential vulnerabilities, adds IEA.<br /><br />https://www.thestar.com.my/business/business-news/2021/06/05/making-cents-out-of-solar<br /></p>
</div> </div>Adminhttp://www.blogger.com/profile/16609839271303069034noreply@blogger.comtag:blogger.com,1999:blog-25058915.post-55227057541970869272021-03-16T07:23:00.001+08:002021-03-16T07:23:42.266+08:00每年营运盈利上看1300万 太阳能计划得标者有“钱”景<p><span></span></p><a name='more'></a> <br />每年营运盈利上看1300万 太阳能计划得标者有“钱”景<br /><img data-pagespeed-url-hash="2017803129" src="https://cdnpuc.sinchew.com.my/pic/2021-03/15/a68f408c-a336-4f0e-8c63-f21d4e1a0dea885166c9-f9fc-462e-89cb-b400113d158c.jpg" /><br />(吉隆坡15日讯)大型太阳能计划4(LSS4)的入选得标公司名单正式出炉,分析员估计获颁50兆瓦合约的公司,盈利成长前景看俏,每年可取得的营运盈利将介于1100万至1300万令吉之间。<br /><br />30公司“分享大饼”竞争更激烈<br /><br />分析员认为,这次有多达30家公司“分享大饼”,竞争更为激烈,相比上一回只有5家公司获颁合约,预料内部回酬率介于6至8%之间。<br /><br />同时,分析员看好大型太阳能项目陆续有来,政府将进一步颁发合约以达致提高太阳能发电的目标。<br /><br />MIDF研究指出,能源委员会于上周五宣布大型太阳能计划4的入选得标者,其中20个得标者来自配套P1(10兆瓦至29.99兆瓦)以及10个得标者来自配套P2(30兆瓦至50兆瓦),涉及总额为823.06兆瓦(包括配套P2的500兆瓦及配套P1的323.06兆瓦),而原先是放眼1000兆瓦(各为500兆瓦)。<br /><br />“这也是首次有汽车公司成功标得大型太阳能工程计划,同时得标公司也来自多个不同领域,包括公用事业、油气、种植、产业以及建筑等领域。”<br /><br />该行指出,大型太阳能计划4(LSS4)宣布30个得标者,即配套P2颁发500兆瓦及配套P1则颁发323兆瓦,电费分别介于每小时每千瓦特为17.7仙-19.7仙和18.5仙至-24.8仙。<br /><br />目前各个大型太阳能4计划项目仍缺乏实际财务细节,并有待各公司进一步披露详情。<br /><br />“我们估计50兆瓦资产的每年营运盈利将介于1100万至1300万令吉之间,这是假设项目内部回酬率为6%至8%,资本支出为250万令吉/兆瓦,16.7%的产能因素,以及平均电费为每单位18.7仙-21.7仙。”<br /><br />内部回酬率介于6至8%<br /><br />该行探悉,上述工程计划的内部回酬率介于6至8%之间,胥视它们的融资架构,而股本内部回酬率则介于高单位数至十多巴仙的中位数。<br /><br />兴业研究表示,这次电费较低,反映了竞争激烈,太阳能投资的下跌走势,但预期能源转型计划将从今年起加快。<br /><br />该行预计,这次的内部回酬率介于7至9%。<br /><br />大马设定目标,在2025年再生能源占20%的发电量,共7838兆瓦。<br /><br />目前1483兆瓦已经开始营运,另外2597兆瓦已经颁发。剩下3758兆瓦需颁发,以达致目标(在LSS4之后则为2935兆瓦)。其中2172兆瓦(58%)预料来自太阳能装置(如果纳入这次颁发的823兆瓦,则为剩下1349兆瓦或46%为太阳能)。其余42%为非太阳能发电。<br /><br />不过,国际再生能源机构(IRENA)表示,大马设定的目标是再生能源在2025年占31%和2035年达到40%,高过之前设定的目标。<br /><br />该行指出,太阳能板价格上涨,惟资本成本可能降低。该行业参与者较早发出迹象显示,大型太阳能计划的参考资本支出为每兆瓦需要200万至250万令吉。<br /><br />但是,自2020年杪以来,由于缺乏多晶硅和太阳能玻璃,使太阳能电池板价格已经上涨,惟普遍预计将在2021年下半年才有望恢复正常。<br /><br />该行指出,预料在冠病疫情之后,资本成本很可能已经减少,主要是回酬率较低(相对于2019年水平)及全球货币政策仍然宽松。<br /><br />该行业参与者最新表明,潜在项目内部回酬率介于6至8%之间(取决于产能因素如现场的辐照度而定,通常随著大马半岛北移而更高)。<br /><br />潜在股本内部回酬率介于9至14%之间,这是假设债务对股本比例为80:20,胥视融资结构,如利率、期限及还款资料而定。<br /><br />该行指出,这将实现电网平价。在电费大幅降低之后,尤其是自大型太阳能3(LSS3)以来,太阳能电费(基于平均LSS4电费的竞标价格为每单位19.9仙)现在低于当局公布展示成本23.8仙。尽管如此,间歇性停电仍然是采用可再生能源一个重要问题,特别是太阳能或风能。<br /><br />务边SLVEST捷硕前进<br />盈利影响最显著<br /><br />这次LSS4主要得标的上市公司包括国家能源(TENAGA,5347,主板公用事业组)、联熹(RANHILL,5272,主板公用事业组)、陈唱摩多(TCHONG,4405,主板消费产品服务组)、S L V E S T控股(SLVEST,0215,创业板工业产品服务组)、乌兹马(UZMA,7250,主板能源组)、威立(KPOWER,7130,主板工业产品服务组)、捷硕(J A K S,4723,主板建筑组)、务边(GOPENG,2135,主板种植组)、前进控股(ADVCON,5281,主板建筑组)、MK置地(MKLAND,8893,主板产业组)。<br /><br />工程采购建筑和测试领域(EPCC)业者则包括CYPARK资源(CYPARK,5184,主板工业产品服务组)、SAMAIDEN集团(SAMAIDEN,0223,创业板工业产品服务组)及SLVEST控股等也是潜在赢家。<br /><br />该行研究名单下的公司,即联熹及国家能源的每年营运盈利影响分别为3.1至3.7%及0.1%。<br /><br />“在所有得标优胜者中,务边、SLVEST控股、捷硕、前进控股等的盈利影响则是最为显著,它们的年度营运盈利介于10%至185%之间。”<br /><br />该行对整体电力领域维持“中和”评级,给予买进的首选电力能源股为国家能源(目标价11令吉80仙)及联熹(目标价1令吉25仙)。<br /><br />肯纳格研究表示,涉及太阳能EPCC合约的公司,将是最大赢家,例如SLVEST控股(SLVEST,0215,创业板工业产品服务组)和SAMAIDEN集团(SAMAIDEN,0223,创业板工业产品服务组)。SLVEST控股预料可获颁200-300兆瓦,SAMAIDEN集团则可取得至少100兆瓦合约。<br /><br />兴业研究对电力领域保持“加码”评级,首选股为国能和威立(KPOWER,7130,主板消费产品服务组)<br /><br />https://www.sinchew.com.my/content/content_2443171.html<br /><p></p>Adminhttp://www.blogger.com/profile/16609839271303069034noreply@blogger.comtag:blogger.com,1999:blog-25058915.post-48208639153424014972021-03-15T19:18:00.001+08:002021-03-15T19:19:16.629+08:00每年营运盈利上看1300万 太阳能计划得标者有“钱”景<p> <span></span></p><a name='more'></a><br />每年营运盈利上看1300万 太阳能计划得标者有“钱”景<br /><br />(吉隆坡15日讯)大型太阳能计划4(LSS4)的入选得标公司名单正式出炉,分析员估计获颁50兆瓦合约的公司,盈利成长前景看俏,每年可取得的营运盈利将介于1100万至1300万令吉之间。<br /><br />30公司“分享大饼”竞争更激烈<br /><br />分析员认为,这次有多达30家公司“分享大饼”,竞争更为激烈,相比上一回只有5家公司获颁合约,预料内部回酬率介于6至8%之间。<br /><br />同时,分析员看好大型太阳能项目陆续有来,政府将进一步颁发合约以达致提高太阳能发电的目标。<br /><br />MIDF研究指出,能源委员会于上周五宣布大型太阳能计划4的入选得标者,其中20个得标者来自配套P1(10兆瓦至29.99兆瓦)以及10个得标者来自配套P2(30兆瓦至50兆瓦),涉及总额为823.06兆瓦(包括配套P2的500兆瓦及配套P1的323.06兆瓦),而原先是放眼1000兆瓦(各为500兆瓦)。<br /><br />“这也是首次有汽车公司成功标得大型太阳能工程计划,同时得标公司也来自多个不同领域,包括公用事业、油气、种植、产业以及建筑等领域。”<br /><br />该行指出,大型太阳能计划4(LSS4)宣布30个得标者,即配套P2颁发500兆瓦及配套P1则颁发323兆瓦,电费分别介于每小时每千瓦特为17.7仙-19.7仙和18.5仙至-24.8仙。<br /><br />目前各个大型太阳能4计划项目仍缺乏实际财务细节,并有待各公司进一步披露详情。<br /><br />“我们估计50兆瓦资产的每年营运盈利将介于1100万至1300万令吉之间,这是假设项目内部回酬率为6%至8%,资本支出为250万令吉/兆瓦,16.7%的产能因素,以及平均电费为每单位18.7仙-21.7仙。”<br /><br />内部回酬率介于6至8%<br /><br />该行探悉,上述工程计划的内部回酬率介于6至8%之间,胥视它们的融资架构,而股本内部回酬率则介于高单位数至十多巴仙的中位数。<br /><br />兴业研究表示,这次电费较低,反映了竞争激烈,太阳能投资的下跌走势,但预期能源转型计划将从今年起加快。<br /><br />该行预计,这次的内部回酬率介于7至9%。<br /><br />大马设定目标,在2025年再生能源占20%的发电量,共7838兆瓦。<br /><br />目前1483兆瓦已经开始营运,另外2597兆瓦已经颁发。剩下3758兆瓦需颁发,以达致目标(在LSS4之后则为2935兆瓦)。其中2172兆瓦(58%)预料来自太阳能装置(如果纳入这次颁发的823兆瓦,则为剩下1349兆瓦或46%为太阳能)。其余42%为非太阳能发电。<br /><br />不过,国际再生能源机构(IRENA)表示,大马设定的目标是再生能源在2025年占31%和2035年达到40%,高过之前设定的目标。<br /><br />该行指出,太阳能板价格上涨,惟资本成本可能降低。该行业参与者较早发出迹象显示,大型太阳能计划的参考资本支出为每兆瓦需要200万至250万令吉。<br /><br />但是,自2020年杪以来,由于缺乏多晶硅和太阳能玻璃,使太阳能电池板价格已经上涨,惟普遍预计将在2021年下半年才有望恢复正常。<br /><br />该行指出,预料在冠病疫情之后,资本成本很可能已经减少,主要是回酬率较低(相对于2019年水平)及全球货币政策仍然宽松。<br /><br />该行业参与者最新表明,潜在项目内部回酬率介于6至8%之间(取决于产能因素如现场的辐照度而定,通常随著大马半岛北移而更高)。<br /><br />潜在股本内部回酬率介于9至14%之间,这是假设债务对股本比例为80:20,胥视融资结构,如利率、期限及还款资料而定。<br /><br />该行指出,这将实现电网平价。在电费大幅降低之后,尤其是自大型太阳能3(LSS3)以来,太阳能电费(基于平均LSS4电费的竞标价格为每单位19.9仙)现在低于当局公布展示成本23.8仙。尽管如此,间歇性停电仍然是采用可再生能源一个重要问题,特别是太阳能或风能。<br /><br />务边SLVEST捷硕前进<br />盈利影响最显著<br /><br />这次LSS4主要得标的上市公司包括国家能源(TENAGA,5347,主板公用事业组)、联熹(RANHILL,5272,主板公用事业组)、陈唱摩多(TCHONG,4405,主板消费产品服务组)、S L V E S T控股(SLVEST,0215,创业板工业产品服务组)、乌兹马(UZMA,7250,主板能源组)、威立(KPOWER,7130,主板工业产品服务组)、捷硕(J A K S,4723,主板建筑组)、务边(GOPENG,2135,主板种植组)、前进控股(ADVCON,5281,主板建筑组)、MK置地(MKLAND,8893,主板产业组)。<br /><br />工程采购建筑和测试领域(EPCC)业者则包括CYPARK资源(CYPARK,5184,主板工业产品服务组)、SAMAIDEN集团(SAMAIDEN,0223,创业板工业产品服务组)及SLVEST控股等也是潜在赢家。<br /><br />该行研究名单下的公司,即联熹及国家能源的每年营运盈利影响分别为3.1至3.7%及0.1%。<br /><br />“在所有得标优胜者中,务边、SLVEST控股、捷硕、前进控股等的盈利影响则是最为显著,它们的年度营运盈利介于10%至185%之间。”<br /><br />该行对整体电力领域维持“中和”评级,给予买进的首选电力能源股为国家能源(目标价11令吉80仙)及联熹(目标价1令吉25仙)。<br /><br />肯纳格研究表示,涉及太阳能EPCC合约的公司,将是最大赢家,例如SLVEST控股(SLVEST,0215,创业板工业产品服务组)和SAMAIDEN集团(SAMAIDEN,0223,创业板工业产品服务组)。SLVEST控股预料可获颁200-300兆瓦,SAMAIDEN集团则可取得至少100兆瓦合约。<br /><br />兴业研究对电力领域保持“加码”评级,首选股为国能和威立(KPOWER,7130,主板消费产品服务组)<br /><br />https://www.sinchew.com.my/content/content_2443171.html<br /><p></p>Adminhttp://www.blogger.com/profile/16609839271303069034noreply@blogger.comtag:blogger.com,1999:blog-25058915.post-49991027073138332792020-10-10T21:28:00.005+08:002020-10-10T21:29:14.023+08:00[TAN CHONG MOTOR HOLDINGS BHD:COVID-19大流行严重影响了全球和我国的经济活动,从而严重影响了绩效。本地企业在行动控制令(MCO)期间无法运营] - James的股票投资James Share Investing<p><span></span></p><a name='more'></a> [TAN CHONG MOTOR HOLDINGS BHD:COVID-19大流行严重影响了全球和我国的经济活动,从而严重影响了绩效。本地企业在行动控制令(MCO)期间无法运营]<br /><br />截至2020年6月30日的季度,集团录得收入5.129亿令吉,税前亏损为8630万令吉,分别比去年同期减少51.9%和311.6%。截至2020年6月30日的6个月期间,集团录得收入12.472亿令吉和税前亏损8610万令吉,分别比去年同期减少41.9%和222.1%。<br /><br />车辆组装,制造,分销和售后服务(汽车):<br />汽车部门在本季度回顾中的收入较低,为4.927亿令吉(YoY下降-52.7%),而息税折旧及摊销前亏损(LBITDA)为1750万令吉(YoY-121.7%)。截至2020年6月30日的6个月期间,汽车部门的营业额减少到12.022亿令吉(YoY-42.7%),息税折旧及摊销前收益(EBITDA)减少到1,030万令吉(YoY-93.1%)。<br /><br />COVID-19大流行严重影响了全球和我国的经济活动,从而严重影响了绩效。本地企业在行动控制令(MCO)期间无法运营。海外市场的业务也受到了大流行的影响,尽管程度较小。与去年相比,这些中断导致收入和EBITDA下降。<br /><br />金融服务(租购和保险):<br />金融服务部门在本季度回顾中录得较低的收入(1550万令吉)(YoY-26.1%)和LBITDA 1680万令吉(YoY-343.3%)。截至2020年6月30日的6个月期间,金融服务部门的营业额减少至3,450万令吉(YoY-20.4%),LBITDA则为1,300万令吉(YoY-201.0%)。这主要是由于在MCO期间收款明显减少,因本季度确认的租购应收款的减值损失增加所致。<br /><br />其他部门(投资和物业):<br />在本季度回顾中,来自其他业务的收入略高至470万令吉(YoY增长16.0%),但EBITDA较低,为60万令吉(YoY-88.7%),这主要是由于当前季度净外汇收益减少所致。截至2020年6月30日的6个月期间,来自其他业务的收入增加至1,050万令吉(YoY增长43.0%),而EBITDA改善至1,690万令吉(YoY增长494.1%)。<br /><br />前景:<br />2020年第二季度,由于COVID-19大流行的空前影响,马来西亚的国内生产总值(“ GDP”)下降了17.1%。马来西亚政府于2020年3月18日实施的MCO和2020年5月4日至2020年6月9日的有条件MCO对集团的全国业务产生了影响。同样,在其他开展业务的国家,即越南,缅甸,老挝和柬埔寨,也实施了不同程度的封锁措施。封锁的结果也影响了它们在这些国家的表现,尽管与马来西亚本地市场相比范围较小。陈唱摩多将继续采取积极措施,以提高其在所经营的所有市场中的竞争力,并继续专注于关键业务战略,以推动业务增长并实现运营可持续性。<br />------------------------<br />James Ng Stock Pick Performance:<br />Since Recommended Return:<br /><br />a. FRONTKEN CORP BHD, recommended on 12 Aug 18, initial price was RM0.715, rose to RM3.72, dividend RM0.052, in 2 years 1 month 27 days, total return is 427.6%<br /><br />b. TOP GLOVE CORP BHD, recommended on 1 July 18, initial price was RM12.14, rose to RM52.86 adjusted, dividend RM0.52, in 2 Years 3 months 7 days, total return is 339.7%<br /><br />c. MI TECHNOVATION BERHAD, recommended on 2 Jun 19, initial price was RM1.67, rose to RM6.39 adjusted, dividend RM0.055, in 1 Year 4 months 7 days, total return is 285.9%<br /><br />d. PROLEXUS BHD, recommended on 25 Aug 19, initial price was RM0.455, rose to RM1.64, dividend RM0.003, in 1 Year 1 month 14 days, total return is 261.1%<br /><br />e. OPENSYS M BHD, recommended on 24 May 20, initial price was RM0.355, rose to RM0.95, dividend RM0.005, in 4 months 15 days, total return is 169%<br /><br />f. CHIN HIN GROUP BHD, recommended on 2 Feb 20, initial price was RM0.57, rose to RM1.37, dividend RM0.02, in 8 months 7 days, total return is 143.9%<br /><br />g. INTA BINA GROUP BHD, recommended on 26 Apr 20, initial price was RM0.19, rose to RM0.335, in 5 months 13 days, total return is 76.3%<br /><br />h. KAREX BHD, recommended on 20 Oct 19, initial price was RM0.445, rose to RM0.72, dividend RM0.015, in 11 months 19 days, total return is 65.2%<br /><br />i. PERAK TRANSIT BHD, recommended on 19 July 20, initial price was RM0.18, rose to RM0.28, dividend RM0.0025, in 2 months 20 days, total return is 56.9%<br /><br />j. UNISEM (M) BHD, recommended on 19 May 19, initial price was RM2.58, rose to RM3.93, dividend RM0.08, in 1 Year 4 months 20 days, total return is 55.4%<br /><br />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:<br /><br />预计公司每年的增长率必须超过14%<br /><br />我想说服读者学习基本面分析FA以便能从股市赚钱。<br /><br />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。<br /><br />Whatsapp : 011 - 15852043<br /><br />请订阅James的股票投资James Share Investing的Youtube频道:https://www.youtube.com/c/JamesShareInvesting<br /><br />Facebook Group: https://www.facebook.com/groups/jamesinvesting<br /><br />这个是我的TELEGRAM Group链接: https://t.me/joinchat/LhwHNhdU1fDgxrSafTrTiw<br /><br />请大家来Follow James的Instagram,获取最新的资讯:jamesnginvest<br /><br />免责声明:<br />高波动性投资产品,你的交易存在风险。过往表现不能作为将来业绩指标。内容仅作为分享,讨论以及领域的分析,而非是一种投资建议,买或卖自负。请Like和Share。最终决定永远是你的,谢谢。<br /><br />James Ng<br />-------------------------------------------------<br />[TAN CHONG MOTOR HOLDINGS BHD: The performance was significantly affected by the COVID-19 pandemic which has plagued global and local economic activities. The local businesses were unable to operate during the Movement Control Order (“MCO”) period]<br /><br />For the quarter ended 30 June 2020, the Group recorded revenue of RM512.9 million and loss before tax of RM86.3 million, a decrease of 51.9% and 311.6% respectively compared to the same quarter preceding year. For the 6 months period ended 30 June 2020, the Group recorded revenue of RM1,247.2 million and loss before tax of RM86.1 million, a decrease of 41.9% and 222.1% respectively compared to the same period preceding year.<br /><br />Vehicles Assembly, Manufacturing, Distribution & After-Sales Service (Automotive):<br />The automotive division recorded a lower revenue of RM492.7 million in the current quarter under review (-52.7% year-on-year (“YoY”)) and a Loss Before Interest, Tax, Depreciation and Amortization (“LBITDA”) of RM17.5 million (-121.7% YoY). As for the 6 months period ended 30 June 2020, the automotive division recorded a lower revenue of RM1,202.2 million (-42.7% YoY) and lower Earnings Before Interest, Tax, Depreciation and Amortization (“EBITDA”) of RM10.3 million (-93.1% YoY).<br /><br />The performance was significantly affected by the COVID-19 pandemic which has plagued global and local economic activities. The local businesses were unable to operate during the Movement Control Order (“MCO”) period. The businesses in the overseas markets have also been affected by the pandemic, albeit to a lesser extent. These disruptions have led to a decline in revenue and EBITDA compared to preceding year.<br /><br />Financial Services (Hire Purchase and Insurance):<br />The financial services division recorded a lower revenue of RM15.5 million in the current quarter under review (-26.1% YoY) and a LBITDA of RM16.8 million (-343.3% YoY). As for the 6 months period ended 30 June 2020, the financial services division recorded a lower revenue of RM34.5 million (-20.4% YoY) and LBITDA of RM13.0 million (-201.0% YoY).The loss suffered by the division was mainly due to higher impairment loss on hire purchase receivables recognised during the quarter as collections were significantly lower during the MCO period.<br /><br />Other Operations (Investments and Properties):<br />Revenue from Other Operations was slightly higher at RM4.7 million in the current quarter under review (+16.0% YoY) but EBITDA was lower at RM0.6 million (-88.7% YoY), mainly caused by a lower net foreign exchange gain in the current quarter. As for the 6 months period ended 30 June 2020, revenue from Other Operations was higher at RM10.5 million (+43.0% YoY) and EBITDA improved to RM16.9 million (+494.1% YoY).<br /><br />Prospects:<br />In the second quarter of 2020, Malaysia’s Gross Domestic Product (“GDP”) contracted 17.1% due to the unprecedented impact of the COVID-19 pandemic. The MCO imposed by the Government of Malaysia on 18 March 2020 and Conditional MCO from 4 May 2020 to 9 June 2020, have impacted the Group’s business operations nationwide. Similarly, in the other countries where they have operations, namely Vietnam, Myanmar, Laos and Cambodia, varying degrees of lockdown measures have also been implemented. Their performance in these countries were also affected as a result of the lockdown, albeit to a lesser extent compared to the local market in Malaysia. The Group will continue to take active measures to improve its competitiveness in all the markets they operate in and maintain their focus on the key business strategies to drive business growth and achieve operational sustainability.<br />--------------------------------------------------------------------------<br />I wish to share my strategy to readers, hope that they can perform well after reading this. I am using Fundamental Analysis:<br /><br />the forecasted growth of a company must over 14% per year<br /><br />I wish to convince readers to learn FA in order to make money from stock market.<br /><br />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.<br /><br />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.<br /><br />James Ng<br /><br /> https://klse.i3investor.com/blogs/general/2020-10-10-story-h1534561033.jsp<p></p>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-25058915.post-54742606822765251572019-08-21T21:06:00.003+08:002019-08-21T21:06:48.999+08:00TCHONG (4405) : Earnings Improved due to Favorable Sales Mix<br />
<a name='more'></a><br /><br />
<div class="separator" style="clear: both; text-align: left;">
<b>Result Update</b></div>
<br />
For QE30/6/2019, TChong's net profit rose 22% q-o-q or 57% y-o-y to RM19
million while revenue dropped 1% q-o-q or 2% y-o-y to RM1.067 billion.
The automotive revenue rose 1.3% y-o-y to RM2,096.6 million and EBITDA
rose 46.9% y-o-y to RM149.6 million. Automotive division recorded a
1.3%-decline in revenue to RM1,041.7 million, while EBITDA has improved
by 16.2% to RM80.4 million. The lower revenue was due to stiff
competition in the automotive
market. EBITDA improved due to favorable sales model mix.<br />
<br />
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-sqbSzRqKGEhsJXexRmqVU-SjP4tv-A-C81t2UG5LeX5HN-2TPm-x3f6rbkMBTD6XMRnYuVqLc3vmsMsXRx6eco_E7V81mePun7Qt6gRXdtUlrSBJ8RUXtRVPZPDmhtzO0xwI/s1600/Tchong%2527s+8Qs.gif" style="margin-left: 1em; margin-right: 1em; text-align: center;"><img border="0" data-original-height="727" data-original-width="788" height="295" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-sqbSzRqKGEhsJXexRmqVU-SjP4tv-A-C81t2UG5LeX5HN-2TPm-x3f6rbkMBTD6XMRnYuVqLc3vmsMsXRx6eco_E7V81mePun7Qt6gRXdtUlrSBJ8RUXtRVPZPDmhtzO0xwI/s320/Tchong%2527s+8Qs.gif" width="320" /></a><br />
<span style="font-style: italic;">Table: TChong's last 8 quarterly results</span><br />
<br />
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg5QUUjUgDP00NWJ_qENmhFIfRA94ql3OWyrLo-whbE1oyuvy_LTCn0pftcEgmH60ta8uFyZKBuq80DA5DXU_gBQhhbKuy6UibR6pqRhNO7xaCflgEAzs-DPxOWcuXlhIvlS6XW/s1600/Tchong%2527s+51Qs.gif" style="margin-left: 1em; margin-right: 1em; text-align: center;"><img border="0" data-original-height="667" data-original-width="541" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg5QUUjUgDP00NWJ_qENmhFIfRA94ql3OWyrLo-whbE1oyuvy_LTCn0pftcEgmH60ta8uFyZKBuq80DA5DXU_gBQhhbKuy6UibR6pqRhNO7xaCflgEAzs-DPxOWcuXlhIvlS6XW/s320/Tchong%2527s+51Qs.gif" width="258" /></a><br />
<span style="font-style: italic;">Graph: TChong's last 49 quarterly results</span><br />
<b><br /></b><b>Financial Position</b><br />
<br />
As at 30/6/2019, TChong's financial position is deemed satisfactory with
current ratio at 1.4 times and gearing ratio at 1.0 time.<br />
<br />
<b>Valuation</b><br />
<br />
TChong (closed at RM1.45 yesterday) is now trading at a trailing PER of
7.9 times (based on last 4 quarters' EPS of 18.37 sen). At this PER,
TChong is trading at a fairly reasonable value for a turnaround stock.<br />
<b><br /></b><b>Technical Outlook</b><br />
<br />
TChong appears to be making a base at around RM1.30-1.40. Immediate
resistance will be at the psychological RM1.50 mark and thereafter at
the horizontal line at RM1.65.<br />
<br />
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEitFG_IebJsCbwKzOl04a3nAkMBLCH0ouqcbNy6FfGrz3CdM84vlVKU3RJgbKRTVjdsC1LjkdNnIO0ynZXOu6ROsYlssJ74ECABQx04yqN77u2LgtCa22ps6NoYC_zFhjKM2Sz0/s1600/Tchong+w20190820.gif" style="margin-left: 1em; margin-right: 1em; text-align: center;"><img border="0" data-original-height="667" data-original-width="998" height="213" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEitFG_IebJsCbwKzOl04a3nAkMBLCH0ouqcbNy6FfGrz3CdM84vlVKU3RJgbKRTVjdsC1LjkdNnIO0ynZXOu6ROsYlssJ74ECABQx04yqN77u2LgtCa22ps6NoYC_zFhjKM2Sz0/s320/Tchong+w20190820.gif" width="320" /></a><br />
<span style="font-style: italic;">Chart 1: TChong's daily chart as at Aug 20, 2019 (Source: Malaysiastock.biz)</span><br />
<span style="font-style: italic;"><br /></span>
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjrz0_DMTZ9SL4nsa1SLjbYZJzRJB6QuA1e5JqvRqTB7dOvYwXO3GtJN4V7GsBUJIRypSrHQw03z9b0LHDa_YFdJHW2Ba8adjdMeZQyIMe86Dce7Dg1hjcXDKNBM1WvzYSMgSyH/s1600/Tchong+m20190820.gif" style="margin-left: 1em; margin-right: 1em; text-align: center;"><img border="0" data-original-height="667" data-original-width="998" height="213" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjrz0_DMTZ9SL4nsa1SLjbYZJzRJB6QuA1e5JqvRqTB7dOvYwXO3GtJN4V7GsBUJIRypSrHQw03z9b0LHDa_YFdJHW2Ba8adjdMeZQyIMe86Dce7Dg1hjcXDKNBM1WvzYSMgSyH/s320/Tchong+m20190820.gif" width="320" /></a><br />
<span style="font-style: italic;">Chart 2: TChong's monthly chart as at Aug 20, 2019 (Source: Malaysiastock.biz)</span><br />
<br />
<b>Conclusion</b><br />
<br />
Based on improved financial performance, satisfactory financial position
and fair valuation, TChong could be a good stock for recovery play.<br />
<div>
</div>
<div>
<b><i style="mso-bidi-font-style: normal;">Note:</i></b><br />
<b><i style="mso-bidi-font-style: normal;"><br /></i></b><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">I hereby confirm that I do not have any direct interest in the security or securities mentioned in this post.</i></b><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span style="mso-fareast-language: EN-US;"> However, I could have an indirect interest in </span>the
security or securities mentioned as some of my clients may have an
interest in the acquisition or disposal of the aforementioned security
or securities. </i></b><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">As investor, you should fully research any security before making an investment decision.</i></b></div>
<br />http://nexttrade.blogspot.com/2019/08/tchong-earnings-improved-due-to.htmlUnknownnoreply@blogger.comtag:blogger.com,1999:blog-25058915.post-50539152922869472372019-07-31T21:45:00.000+08:002019-07-31T21:45:11.810+08:00[TCHONG (4405) 陈唱摩哆TAN CHONG MOTOR HOLDINGS BHD:在马来西亚和海外市场推出的新车型带来的销量增加和销售产品组合更好] - James的股票投资James Share Investing<br />
<a name='more'></a> [TAN CHONG MOTOR HOLDINGS BHD:在马来西亚和海外市场推出的新车型带来的销量增加和销售产品组合更好]<br /><br />截至2019年3月31日止季度,陈唱摩多录得收入为10.8亿令吉,税前利润为2,970万令吉,较去年同期分别增长4.4%及120.8%。每股净资产为4.38令吉,而截至2018年3月31日止季度则为4.30令吉。<br /><br />a)车辆装配,制造,分销和售后服务(汽车):<br />汽车部门的收入增加到10.549亿令吉(YoY增长4.7%),息税折旧摊销前利润为6,920万令吉(YoY增长43.6%)。这是由于在马来西亚和海外市场推出的新车型带来的销量增加和销售产品组合更好。<br /><br />b)金融服务(租购和保险):<br />金融服务部门的收入较低,为2240万令吉(YoY下降9.6%),EBITDA为590万令吉(YoY下降24.9%)。<br /><br />c)其他业务(投资和房地产):<br />其他业务的收入较上一年的270万令吉高,为330万令吉。<br /><br />QoQ:<br />这季度税前利润由8,370万令吉减少64.5%至2,970万令吉。<br /><br />a)车辆装配,制造,分销和售后服务(汽车):<br />在本季度,汽车部门的收入为10.549亿令吉(QoQ下降7.5%),部门EBITDA为6920万令吉(QoQ下降39.6%)。<br /><br />https://klse.i3investor.com/blogs/general/217455.jsp<br /><br />b)金融服务(租购和保险):<br />金融服务部门2019年第一季度的收入为2240万令吉(QoQ增长0.5%)。 2019年第一季度的EBITDA为590万令吉(QoQ增长3.6%)。 EBITDA较高是由于2019年第一季度应收租购款减值与上一季度相比减少。<br /><br />c)其他业务(投资和房地产):<br />2019年第一季度的EBITDA已减少至亏损260万令吉(2018年第四季度:利润为680万令吉),原因是为海外实体外币融资的外币亏损。<br /><br />前景:<br />这集团将继续贯彻其策略,以其产品阵容及服务产品维持及提升其在国内市场的竞争力。这集团将继续通过其遍布马来西亚和印度支那市场的广泛销售和售后服务网络来强调客户关怀和满意度,重点是建立可持续发展为客户提供满意度并应对市场挑战的方法。<br />-----------------------------<br />James Ng Stock Pick Performance:<br />Since Recommended Return:<br /><br />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 16 days, total return is 132.9%<br /><br />b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.37 (dividend RM0.04) in 1 year 27 days, total return is 77.4%<br /><br />c) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.41 in 7 months 13 days, total return is 76.3%<br /><br />d) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.54 (dividend RM0.1875) in 9 months 14 days, total return is 44.3%<br /><br />e) PESTECH (PESTECH INTERNATIONAL BHD), recommended on 2 Jun 19, initial price was RM1.04, rose to RM1.44 in 1 month 28 days, total return is 38.5%<br /><br />f) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.79 in 6 months 9 days, total return is 37.4%<br /><br />g) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.65 (dividend RM0.035) in 8 months 11 days, total return is 32.7%<br /><br />h) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.27 (dividend RM0.008) in 7 months 6 days, total return is 32.4%<br /><br />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 21 days, total return is 22.8%<br /><br />j) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.62 (dividends RM0.04) in 9 months 28 days, total return is 16.1%<br /><br />k) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.98 in 6 months 28 days, total return is 15.3%<br /><br />l) HUAYANG (HUA YANG BHD), recommended on 17 Feb 19, initial price was RM0.40, rose to RM0.45 in 5 months 12 days, total return is 12.5%<br /><br />m) FIAMMA (FIAMMA HOLDINGS BHD), recommended on 23 Sep 18, initial price was RM0.495, rose to RM0.495 (dividend RM0.0225) in 10 months 6 days, total return is 4.5%<br /><br />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):<br /><br />预计公司每年的增长率必须> 14%<br /><br />我想说服读者学习基本面分析FA以便能从股市赚钱。<br /><br />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。<br /><br />1)【看懂年报和季报】课程:<br />11a.m. – 7p.m.,免费茶和咖啡<br /><br />8月11日星期日:AG Hotel Penang, George Town 4份点心<br /><br />9月8日星期日:Hotel Sri Petaling, KL 3份点心<br /><br />10月19日星期六:Silka Johor Bahru Hotel, Johor Bahru 5份点心<br /><br />2)【股票-实际操作班】课程:<br />10a.m. – 9p.m.,免费午餐和晚餐<br /><br />8月10日星期六:AG Hotel Penang, George Town<br /><br />9月7日星期六:Hotel Sri Petaling, KL<br /><br />10月20日星期日:Silka Johor Bahru Hotel, Johor Bahru<br /><br />3) 【公司业绩分享会】:<br />2p.m. – 7p.m.,免费茶和咖啡<br /><br />8月9日星期五:AG Hotel Penang, George Town 4份点心<br /><br />9月6日星期五:Hotel Sri Petaling, KL 3份点心<br /><br />10月18日星期五:Silka Johor Bahru Hotel, Johor Bahru 5份点心<br /><br />有兴趣的朋友,可以电邮或PM FB page联络我<br />email:jamesngshare@gmail.com<br />电话/Whatsapp : 011 - 15852043<br /><br />Facebook Group: https://www.facebook.com/groups/jamesinvesting<br /><br />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<br /><br />请大家来Follow James的Instagram,获取最新的资讯:jamesnginvest<br /><br />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。<br /><br />James Ng<br />-----------------------------------------------<br />[TAN CHONG MOTOR HOLDINGS BHD: higher sales and better sales products mix arising from the new models that were launched in the Malaysia and overseas market]<br /><br />For the quarter ended 31 March 2019, the Group recorded a revenue of RM1.08 billion and profit before tax of RM29.7 million, an increment of 4.4% and 120.8% respectively as compared to the same quarter of preceding year. The net assets per share was at RM4.38 as compared to RM4.30 for the quarter ended 31 March 2018.<br /><br />a) Vehicles Assembly, Manufacturing, Distribution & After Sales Service (automotive):<br />The automotive division recorded a higher revenue of RM1,054.9 million (+4.7% YoY) and EBITDA of RM69.2 million (+43.6% YoY). This was due to higher sales and better sales products mix arising from the new models that were launched in the Malaysia and overseas market.<br /><br />b) Financial Services (hire purchase and insurance):<br />The financial services division recorded a lower revenue of RM22.4 million (-9.6% YoY) and EBITDA of RM5.9 million (-24.9% YoY).<br /><br />c) Other Operations (investments and properties):<br />Revenue from other operations was higher at RM3.3 million as compared to RM2.7 million in the previous year.<br /><br />QoQ:<br />Profit before tax decreased by 64.5% from RM83.7 million to RM29.7 million for the current quarter under review.<br /><br />a) Vehicles Assembly, Manufacturing, Distribution & After Sales Service (automotive):<br />For the quarter under review, automotive division recorded RM1,054.9 million in revenue (-7.5% QoQ) and RM69.2 million in segment EBITDA (-39.6% QoQ).<br /><br />b) Financial Services (hire purchase and insurance):<br />The financial services division recorded its revenue at RM22.4 million for Q1 2019 (+0.5% QoQ). EBITDA for Q1 2019 was RM5.9 million (+3.6% QoQ). The higher EBITDA was due to lower impairment made for hire purchase receivables in Q1 2019 as compared to previous quarter.<br /><br />c) Other Operations (investments and properties):<br />EBITDA for Q1 2019 had reduced to loss of RM2.6 million (Q4 2018: profit of RM6.8 million) due to foreign exchange loss derived from financing overseas entities denominated in foreign currencies.<br /><br />Prospects:<br />The Group will continue to follow through on its strategy to sustain and improve its competitiveness in the domestic market with its products line-up and services offerings. The Group will continue to emphasise on its customer care and satisfaction via its extensive network of sales and after-sales services outlets throughout Malaysia and the Indo-China markets, focusing on building a sustainable approach to deliver satisfaction to their customers and in meeting market challenges.<br />--------------------------------------------------------------------------<br />I wish to share my strategy to readers, hope that they can perform well after reading this. I am using Fundamental Analysis:<br /><br />the forecasted growth of a company must > 14% per year<br /><br />I wish to convince readers to learn FA in order to make money from stock market.<br /><br />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.<br /><br />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.<br /><br />James Ng<br />Unknownnoreply@blogger.comtag:blogger.com,1999:blog-25058915.post-23007879790669623402019-07-17T20:26:00.000+08:002019-07-17T20:26:35.733+08:00下半年汽车销售 国产车双雄定江山<br />
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</figure><br />(吉隆坡17日讯)国产品牌宝腾(Proton)和第二国产车(Perodua)的销售将决定下半年汽车销量表现。不过,在去年税务假期后,市场已没有可推动销售大幅增长的利好因素,因此分析员维持汽车领域的“中和”评级。<br /><br />大马投行分析员指出,宝腾和第二国产车首5个月汽车销量分别占车市总销量的42%和14%,并预期全年汽车总销量(TIV)将按年上升0.8%,至60万3000辆。<br /><br />下半年3大看点<br />Advertisement dfp_displaySlot('odn3-story-1x1-p3-298610')<br /><br />无论如何,分析员认为,在经过去年为期3个月的免税期后,汽车领域近期缺乏重大内部成长因素。同时,分析员整理出下半年汽车领域的3大看点。<br /><br />第1个看点是,宝腾和第二国产车推出的运动型休旅车(SUV)获得热烈反响,SUV市场将面临剧烈竞争,市场领跑者--马自达(Mazda)和本田(Honda)无法保住市占率。马自达市占率从去年的17.5%,跌至7.9%(首5个月),本田则从30.8%,掉至24.5%。至于宝腾X70和第二国产车Aruz,则分别拿下23.3%和22.3%的市占率。<br />Advertisement dfp_displaySlot('odn3-story-mrec-1-298610')<br /><br />其次,据分析员观察,如今的消费者已转变消费形态,倾向选择价格低廉的汽车,而国产车是物美价廉的代表。因此,分析员相信,这将促使国产车销量持续增长,并将成为支撑本地汽车销量的功臣。“售价超过12万令吉的宝腾X70即将推出本地组装(CKD)型号,预计价格将比进口车低20%,有效进一步推高汽车销量。”<br /><br />另外,分析员点出第3个看点,下半年将迎来更多新车推介,共有7款新车推出,其中有5台由马自达包揽,馀下的则是宝腾和本田。<br /><br />4大潜在因素<br /><br />尽管缺乏内部增长的带动,分析员还是认为近期有值得注意的潜在因素,包括令吉走势好转、中美贸易战缓解、采用战略伙伴的合作方式,发展半自动化汽车计划。<br /><br />分析员指出,令吉兑1美元的汇率从6月的4.19跌至4.14水平,并看好令吉将继续走强。其中,陈唱摩多(TCHONG,4405,主板消费股)、合顺(UMW,4588,主板消费股)和PECCA集团(PECCA,5271,主板工业股)整体销货成本(COGS)将降低。<br /><br />此外,宝马(BMW)在中国的汽车销量因关税提高,导致销量不振。为此,宝马决定让经销商提供价格折扣,拖累森那美(SIME,4197,主板消费股)中国业务的盈利表现。不过,考虑到中美双方近期关系缓和,若关税政策取消,森那美未来盈利将回升。“森那美是重量级股项,该公司的评级上调,将可提振整体汽车领域的评级。”<br /><br />同时,随著全球重视半自动驾驶汽车的发展,汽车零件也越来越精密,这有利于半导体公司。“汽车公司与半导体企业未来有更多的合作,同时,互联网服务亦将加入其中,届时,电讯公司也会受惠。”<br />Advertisement dfp_displaySlot('odn3-story-1x1-last-p2-298610')<br /><br />分析员的首选股为BERMAZ汽车(BAUTO,5248,主板消费股)、MBM资源(MBMR,5983,主板消费股)和PECCA集团。<br /><br />他称,BERMAZ汽车除了推出多款新车支撑盈利表现外,其高达6%的周息率,也提升其吸引力;MBM资源受看好则是因为结束轮胎业务和加强汽车分销业务的表现;国产车皮革座椅主要供应商PECCA集团获得分析员的青睐,是因为有望在年杪获得飞机皮革座椅供应执照。<br /><br />https://www.orientaldaily.com.my/news/business/2019/07/17/298610Unknownnoreply@blogger.comtag:blogger.com,1999:blog-25058915.post-41945045395242769372018-12-21T23:44:00.000+08:002018-12-21T07:40:22.861+08:00行业各异的3只马来西亚股值得买入<br />
<a name='more'></a>最近的宏观局势出人意表及市场走势难以捉摸,令投资者步步为营,甚至不敢轻举妄动。尽管如此,马来西亚股市仍有好些值得买入的股。虽然一些上市公司的短期至中期前景似乎并非一帆风顺,但具备实力及擅于把握商机的企业将能乘风破浪,继续前进。以下3只来自不同行业的马交所上市公司的股价上涨潜力介于19%至50%,值得投资者考虑加入组合中。<br />
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<b><span style="font-size: large;">康复手套(COMFORT,2127)</span></b><br />
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主板上市的手套生产商康复手套(Comfort Gloves Bhd)的9M19税前盈利下跌19.1%至2,510万令吉,兴业证券研究(RHB Research Institute)的分析师指出,这主要是因为公司蒙受一笔一次过的540万令吉物流开支。净利下跌40.5%至1,850万令吉则由于9M18获得税务津贴,是9M19所没有的。<br />
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随着子公司脱离美国食品药品管理局(FDA)的进口警惕名单(Import Alert),兴业预期康复手套出口至美国的销售额将会提高,加上丁腈成本下降,公司未来的盈利料将增加。<br />
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产能方面,公司目前拥有43条生产线,并计划添加多6条生产线,以满足潜在的需求增长。<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjC5lPpMZMHt2XbzsfJYPy1V6qeRzg897M3gN5UlsWTk_stlpLIvijpge5x0CT3Pu3yZIGWdBIm6PG01fy37GCc6ZvHNNlfsRBx50AQShbhz2qg2Jolgu6W8pv0dRmCRJ98JphWnA/s1600/STOCK+PICKS.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="443" data-original-width="820" height="172" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjC5lPpMZMHt2XbzsfJYPy1V6qeRzg897M3gN5UlsWTk_stlpLIvijpge5x0CT3Pu3yZIGWdBIm6PG01fy37GCc6ZvHNNlfsRBx50AQShbhz2qg2Jolgu6W8pv0dRmCRJ98JphWnA/s320/STOCK+PICKS.png" style="display: inline;" width="320" /></a></div>
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兴业认为,公司未来的盈利支柱包括销售额上升、产能逐渐提高以及其生产高级专门手套的特长。风险则包括高于预期的原料价格,以及橡胶手套制造业的竞争比预期更加激烈。<br />
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整体而言,兴业维持其给予这只股的‘买入’评级,相等于18倍FY20预估本益比的1.21令吉目标价也保持不变。其他橡胶手套生产商的下个财年预估本益比平均为28倍。<br />
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<b><span style="font-size: large;">陈唱摩多(TCHONG, 4405)</span></b><br />
亦在主板上市的汽车分销商陈唱摩多(Tan Chong Motor Holdings)在12月17日的简报会上宣布,日产汽车公司(Nissan Motor Limited,以下简称为NML)将终止其与陈唱在越南的合资企业日产越南(Nissan Vietnam Limited),并将从明年(2019年) 9月10日起生效。日产越南目前照常营运。NML暂时未就此举给予任何理由。<br />
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日产越南负责的是进口及分销完全装件(CBU)的日产汽车,负责组装和分销全散装件(CKD)日产汽车的则是在另一份合约下,由另一家陈唱独资拥有的子公司TCIE Vietnam负责。<br />
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MIDF研究(MIDF Research)的分析师指出,日产越南在FY16/17分别蒙受2,500万令吉和1,100万令吉净亏损。陈唱的整体越南业务从开始营业至今一直蒙亏,并在FY17录得3,600万令吉息税折旧与摊销前亏损(LBITDA)。因此,终止日产越南将有助于减低整体亏损。<br />
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不过MIDF表示,短期而言陈唱在日产越南的74%股份或会带来一次过的减值亏损。相关股份的账面值为740万美元,即3,100万令吉,相等于MIDF的FY19盈利预估的43%。<br />
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MIDF的分析师对终止合资的消息感到意外,同时提出以下几个值得进一步探讨的观察结果:<br />
• 尽管决定终止合资,NML仍在推出新款CBU日产汽车;<br />
• CBU日产汽车占NML越南总销量的一半,如果没有任何应对措施,这将造成严重损失;<br />
• CBU基本上算是贸易活动,比CKD更简单直接。NML终止CBU合资是否为了顺应越南政府的指引,专心经营CKD车款,还得拭目以待。<br />
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业绩方面,MIDF认为陈唱在FY18转亏回盈的机会不受动摇,并将主要由马来西亚业务给予支持。营运亏损则将在日产越南结束后减少。MIDF对这只股依然采取相反(contrarian)策略,因此维持其‘买入’建议,目标价也保持在2.10令吉。<br />
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MIDF的估值十分保守,为0.5倍股价与账面值比(PB)。陈唱过去24个月的股价低靡,尽管转亏回盈在望,目前仍是以仅仅0.4倍FY18预估PB交易,甚至低于其0.5倍的历史低位。<br />
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公司股价的主要催化剂包括推出新车款的活动恢复;中南半岛业务的亏损收窄;以及市场份额停止缩小。风险则是,日产越南的合资协议终止或将对越南子公司TCIE Vietnam与NML之间的特许经营协议带来影响。陈唱对该子公司及特许经营活动投资了8,200万美元。<br />
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<b><span style="font-size: large;">新闻控股(MYNEWS,5275)</span></b><br />
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主板上市的本土连锁便利店业者新闻控股(Mynews Holdings)报FY18营业额增长19.5%至3亿9,150万令吉,由于分店数量从FY17的356家增加至FY18的436家,以及设于部份便利店内的咖啡与点心柜台Maru Kafe在4Q18开始营业。净利攀升10.3%至2,650万令吉。<br />
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大马投资银行证券研究(AmInvestment Bank Research)青睐这只股的原因为公司非常积极地拓展分店网络,以及其myNews.com品牌具备开放特许经营的潜力。主要风险则有外籍劳工供应受限制,以及食品加工中心延迟竣工。<br />
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预期该食品加工中心将在明年上半年竣工,并将拥有为600家便利店供应即食餐饮和烘焙产品的产能。大马投行对公司的这项发展十分雀跃,但预期该中心需要至少一年的时间才会上轨道。长期而言,大马投行认为公司的毛利率将因这门新业务而更上一层楼。<br />
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大马投行的分析师把这只股的评级从‘持守’上调至‘买入’,目标价从之前的1.34令吉提高至1.66令吉。目标价是按27倍FY20预估本益比得出,与大马7-11控股(7-Eleven Malaysia Holdings (SEM,5250))的历史本益比一致。<br />
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<a href="http://cj.sharesinv.com/20181220/62512/" target="_blank">http://cj.sharesinv.com/20181220/62512/</a>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-25058915.post-69017597943968279352018-06-26T19:59:00.002+08:002018-06-26T19:59:42.715+08:00TCHONG (4405) 陈唱摩哆 - 与厦门金龙汽车合作.陈唱摩多获独家分销<br />
<a name='more'></a><br />陈唱摩多(TCHONG)久旱逢甘雨,与中国厦门金龙联合汽车工业独家分销协议,成为后者在大马唯一经销和售后服务供应商。<br /><br />陈唱摩多(TCHONG,4405,主板消费品组)久旱逢甘雨,与中国厦门金龙联合汽车工业独家分销协议,成为后者在大马唯一经销和售后服务供应商。<br /><br />面对外汇不稳定、汽车贷款批准门槛提高以及消费情绪疲弱等利空夹击,陈唱摩多在2017年过得苦哈哈,单单在去年就净亏了7300万令吉。<br /><br />不过,该公司2018年首季终于由亏专盈,净赚425万2000令吉,算是有个不错开始,预测在消费税降至0%后,会进一步刺激汽车销量。<br /><br />
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<br />该公司和中国伙伴合作,在大马分销商业用车辆,相信会提高泗岩末汽车制造厂使用率,目前该厂房使用率低过一半,仅有40%而已。<br /><br />该项合作计划,预估首5年必须投资650万令吉,将透过内部资金筹得。<br /><br />丰隆研究正面看待此消息,只不过由于该项目对公司获利贡献仍微乎其微,原因是产量不会太多。<br /><br />另外,根据合约金龙联合汽车工业产品,预测会在2018年第四季才推出,对今年的公司获利贡献不大。<br /><br /><br /><br />http://www.sinchew.com.my/node/1768137/与厦门金龙汽车合作.陈唱摩多获独家分销<br />Unknownnoreply@blogger.comtag:blogger.com,1999:blog-25058915.post-47499140443172910612018-05-21T19:55:00.000+08:002018-05-21T19:55:54.399+08:00TCHONG (4405) 陈唱摩哆 - 实施零税率消费税 汽车业优先受惠<br />
<a name='more'></a>实施零税率消费税 汽车业优先受惠<br />
经济新闻<br />
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21/05/201818:39<br />
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(槟城21日讯)随着希联政府计划消费税(GST)降至零巴仙,预计新措施可刺激和提振消费市场的购买情绪,而汽车业看来将成为首个受惠的领域。<br />
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财政部宣布从6月1日起,消费税将降低至0%,在销售与服务税(SST)实施前的这段过渡期,消费者可尽情享受低价的好处,预计这有助于短暂刺激汽车业者的销量。<br />
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新措施公布后,国内的本田汽车公司、福士伟根汽车公司、合顺丰田汽车公司和大马宝马集团先后宣布调整汽车价格。<br />
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艾芬黄氏资本研究行分析师杨布莱恩向《The Edge》财经周报表示:“对汽车业来说,这是暂时的好处。”<br />
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惟Grant Thornton间接税务与消费税执行董事锺亚伦认为,价格走势将呈‘V型’推进,因为一旦销售与服务税重新推出,汽车制造商将无法保持价格不变。<br />
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他说:“汽车业者的现有库存可以享受零消费税,因为它们仍可索回消费税。但一旦实行了销售与服务税,它们将必须再次调高价格。”<br />
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他还指出,根据销售与服务税制度,汽车售价更高,当2015年推行消费税时,汽车价格才下滑。<br />
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不过,他表示,消费者不会像消费税引入时那样面临不可承受的“双刃剑”,因为他们将可享受更高的购买力。最重要的是,他相信汽车制造商很可能会在重新推出销售与服务税之后,继续保持价格竞争力。<br />
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安联星展研究行分析师西蒂鲁查曼在上周五的报告中表示,总体而言,虽然销量将会加速,但对汽车业的影响将会相当‘中和’。<br />
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她说:“实施销售与服务税后,销量将会下滑,并在稍后恢复正常。”与此同时,她维持汽车总销量全年增长3%的预测。<br />
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除了废除消费税之外,西蒂鲁查曼还指出,新政府打算为每月收入低于8000令吉且首购1600cc以下进口车的家庭降低国产税,这可能会提高进口车销量。<br />
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她表示,尽管目前还没有迹象表明减少国产税的确实日期,或者现有的65至75%国产税的降幅,但此举可能让多元重工业有限公司(DRBHCM,1619,工业产品组)、陈唱摩多控股有限公司(TCHONG,4405,消费产品组)、成功汽车有限公司(BJAUTO,5248,贸易服务组)以及森那美有限公司(SIME,4197,贸易服务组)等汽车业者受惠。<br />
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“惟对多元重工业来说,(进口车)对宝腾汽车的侵蚀效应将会冲击整体销量。”<br />
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汽车业前景看俏<br />
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她续称,有望从所有措施中受惠的是成功汽车,安联星展建议给予该股“买入”评级。<br />
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消费税将降低至0%措施刺激成功汽车于收市时走高6仙或2.75%至2.24令吉。<br />
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根据彭博社预测,成功汽车12个月目标价为2.52令吉,意味着仍有15.6%的上涨空间。<br />
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彭博社报告多元重工业有3个‘买入’评级和4个‘持有’评级,目标价为2.50令吉。<br />
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另一反面,丰隆投银研究行将陈唱摩多评级提升至‘买入’,目标价格为2.15令吉。<br />
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在一份报告中,该研究机构表示,由于令吉兑美元汇率处于良好水平,较低的营销费用和改善销售组合,导致利润率好于预期。<br />
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http://www.kwongwah.com.my/?p=519487Unknownnoreply@blogger.comtag:blogger.com,1999:blog-25058915.post-71384300627113049152018-05-19T13:22:00.000+08:002018-05-19T13:22:16.071+08:00TCHONG (4405) 陈唱摩哆 - 陈唱摩多首季净赚425万令吉<br />
<a name='more'></a>(吉隆坡18日讯)陈唱摩多(Tan Chong Motor Holdings Bhd)在截至今年3月31日止首季(2018财年首季)净赚425万令吉,上财年同期则净亏3532万令吉,归功于净负债减少。<br />
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现财年首季每股盈利为0.65仙,一年前则是每股亏损5.41仙。<br />
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营业额从2017财年首季的9亿9565万令吉,按年增长4%至现财年首季的10亿3000万令吉。<br />
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根据文告,陈唱摩多的汽车业务在该季度录得营业额增长,得益于促销活动提高了汽车销量。<br />
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分期付款与保险业务也取得更高的营业额,截至今年3月杪,其贷款账面规模比上财年同期更高。<br />
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展望未来,该集团估计,汽车领域将继续充满挑战,因为市场竞争非常剧烈。<br />
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尽管如此,该集团将致力改善本地市场的竞争力,并推出新车款如全新的Nissan Serena S-Hybrid,以及在本地组装的全新UD Trucks Croner。<br />
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海外业务方面,该集团将继续贯彻其业务策略,将其销售网络扩展到柬埔寨、寮国、缅甸和越南。该集团在越南和缅甸有两家汽车装配厂。<br />
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闭市时,该股以1.67令吉平盘挂收,市值达10亿9000万令吉。<br />
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(编译:魏素雯)<br />
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http://www.theedgemarkets.com/article/%E9%99%88%E5%94%B1%E6%91%A9%E5%A4%9A%E9%A6%96%E5%AD%A3%E5%87%80%E8%B5%9A425%E4%B8%87%E4%BB%A4%E5%90%89Unknownnoreply@blogger.comtag:blogger.com,1999:blog-25058915.post-56277196489309849942018-01-23T19:14:00.002+08:002018-01-23T19:14:50.474+08:00TCHONG (4405) 陈唱摩哆 - 陈唱摩多 净亏料减至66%<br />
<a name='more'></a>目标价:1.90令吉最新进展<br /><br />我们出席了陈唱摩多(TCHONG,4405,主板消费产品股)会面后,得知下半年或明年会推出新车款。<br /><br />
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<br />另外,该公司计划继续减少存货至10亿令吉。截至去年9月,通过冻结新车推出、进行促销和将新订单延期,已将存货量从2016年3月的20亿令吉,减至13亿令吉。<br /><br />陈唱摩多意欲打进中南半岛的商用车辆市场,计划投入900万美元(约3600万令吉)设厂,并已在越南与厦门金龙联合汽车工业缔结合作关系。<br /><br />行家建议<br />令吉走强,我们将2018财年净亏预测,由8440万令吉,减少至2900万令吉。<br />陈唱摩多有80%的进口成本是以美元换算,令吉兑美元每升1%,我们都会把2018财测上修15%。<br />虽然令吉兑美元的强势对收窄净亏有利,不过陈唱摩多若仅靠旧车款来支撑业务,汽车销售的营收可能将只能有较低的单位数增长。<br />该公司预计在下半年或明年推出的新车款,我们没有将其纳入财测考量,因公司尚无给予明确指示会在何时推出何种款式。<br />维持陈唱摩多的“跟随大市”投资评级,但上修目标价至1.90令吉,来反映近期令吉走高对该股投资情绪的提振。 <br /><b><br /><img src="http://www.enanyang.my/wp-content/uploads/contentdir/image/183719/180123x1403.JPG" style="width: 600px;" /></b><br />http://www.enanyang.my/news/20180123/陈唱摩多br-净亏料减至66/Unknownnoreply@blogger.comtag:blogger.com,1999:blog-25058915.post-69594420601195611452018-01-15T14:18:00.000+08:002018-01-15T14:18:03.244+08:00TCHONG (4405) 陈唱摩哆 - 周一开卷─年华老去陈唱摩哆 令吉助威新车借力 一八年再受市场注目<br />
<a name='more'></a><br />周一开卷─年华老去陈唱摩哆<br />令吉助威新车借力<br />一八年再受市场注目<br />15/01/2018 <br /><br />丹斯里陈月火和丹斯里陈金火两兄弟创办了陈唱摩哆,在马来西亚卖DATSUN日本车起家,打造一个数十亿令吉商业王国,当年更赢得"汽车大王」美誉;岁月如梭,陈月火和金火两兄弟先後作古,陈唱摩哆现在由第二代和第三代人打理。<br /><br />
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<br />从DATSUN到NISSAN,陈唱摩哆从汽车工业赚了数十亿令吉财富,然而,後来进入大马市场的汽车牌子越来越多,陈唱摩哆在过去数年面对老化和盈利遂步滑跌窘境,陈唱摩哆这只股票,由高峰跌至低谷,它是投资者眼中"老人股",风华老去,完全没有吸引力。<br /><br />陈唱摩哆(TCHONG 4405)的股价,在过去数年一步步滑跌,主要是盈利不停下滑。和同行相比,陈唱摩哆表现差强人意,但是,最近它似乎再引起市场注意。<br /><img alt="" class="wp-image-3526 size-medium" height="169" src="http://9shares.my/wp-content/uploads/2018/01/datsun-1200-lg-300x169.jpg" width="300" /><br />DATSUN 120當年陳唱打下江山的車種。<br /><br />陈唱摩哆在这个月也宣布轻微人事变动,掌舵人陈兴洲委任妻子出任CEO,老板娘出马,宣布多项改革计划,看来有点新意思。<br /><br />陈唱代理的NISSAN牌子各款汽车,落後於本田HONDA和丰田TOYOTA之後,苦苦撑住外国汽车第三的位子,面对MAZDA,韩国起亚和现代的竞争。<br />
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<br /> 陈唱在二零二六年财政年面对亏损业绩,主要是同行竞争激烈,加上冻结推出新款车,销售停滞不前,马币令吉汇率疲弱更是雪上加霜。<br /> 此外,陈唱摩哆也在二零一六年清仓,减价走出库存车,盈利被侵蚀,业绩相当难看。<br /> 看到陈唱摩哆好像垂垂老矣,投资者在过去两年抛售手上股票,陈唱摩哆股价过去两年来重跌40%。<br /><br />无论如何,陈唱摩哆最坏的情况好像即将过去,过去十二月清除库存,它在今年将推出数款新车,有望刺激销量上扬。<br />同时,马币令吉汇率大力弹升,也有利於陈唱的成本节省,盈利会因此提高。<br /><br />一家券商预测陈唱摩哆二零一八年财政年可以交出净赚2100万令吉业绩,比较前一年净亏损8100万令吉,二零一九年财政年净利更可进一步提高至6100万令吉。<br /><br />截至去年九月卅日的九个月,陈唱摩哆净亏损比前一年扩大44 %至8160万令吉,营业额也下跌21%至33亿令吉。<br /><br />陈唱摩哆整辆进口的汽车,受美元强势影响,成本提高18%-20%,侵蚀盈利,如今令吉大幅升,扭转局面。<br /><br />「过去十二个月,陈唱摩哆出清库存的Almera, X-Trail 和 Navara三款车,已成功清掉30%,由二零一六年第一季的20亿令吉库存减至13亿令吉。至二零一七年底更减至10亿令吉以下。」<br /><br />「由於库存大减,陈唱摩哆的负债率也由55%减至40%,利息开销大幅减低。」<br /><br />无论如何,陈唱摩哆给一般人的印象就是比较老派和传统,因此今年虽有新款车推出,前景仍不明朗。<br /><br /> 陈唱摩哆今天的股价报RM1.78,要重回RM3.00以上水平,恐怕还有很长很长的路要走。<br /><br />投资者直好陈唱摩哆的话,仍要观察它推出新车市场反应是否热烈,国产车普腾今年推出的新车,是否会打击到陈唱。<br /><br />陈唱摩哆由陈月火陈金火手中,交给陈兴洲打理,面对"年华老去"窘境。倒是陈兴洲的长子陈炳耀ANTHONY TAN创办的GRAB成为全亚洲最亮眼的新创公司,这家没有上市的叫车服务,市值已高达数十亿令吉。<br /><br />GRAB和陈唱摩哆完全没有瓜葛关系,相比之下,孙子ANTHONY比陈兴洲更引人注意,陈唱摩哆股东倒希望陈唱摩哆可以沾到GRAB的光,股价可以重射光芒。<br /><img alt="" class="size-full wp-image-3525" height="426" src="http://9shares.my/wp-content/uploads/2018/01/tan-chong-motor.jpg" width="640" /><br />陳唱摩哆總部。<br /><br />#TCHONG#4405<br /><br />https://9shares.my/%E5%91%A8%E4%B8%80%E5%BC%80%E5%8D%B7%E2%94%80%E5%B9%B4%E5%8D%8E%E8%80%81%E5%8E%BB%E9%99%88%E5%94%B1%E6%91%A9%E5%93%86-%E4%BB%A4%E5%90%89%E5%8A%A9%E5%A8%81%E6%96%B0%E8%BD%A6%E5%80%9F%E5%8A%9B-%E4%B8%80/Unknownnoreply@blogger.comtag:blogger.com,1999:blog-25058915.post-85958925122093602892018-01-10T20:40:00.001+08:002018-01-10T20:40:46.020+08:00TCHONG (4405) 陈唱摩哆 - 获中国厦门金龙汽车经销权 陈唱摩哆越南卖巴士货车<br />
<a name='more'></a><br />获中国厦门金龙汽车经销权 陈唱摩哆越南卖巴士货车<br />10/01/2018 <br /><br />老牌汽车公司陈唱摩哆(TCHONG 4405)宣布和中国厦门金龙汽车集团签署合约,在越南装配和销售金龙汽车生产的客货车和巴士。<br /><br />
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<br />陈唱摩哆是日本日产汽车在马来西亚的独家装配和经销商,该公司早年已将业务扩大至海外市场,今日和厦门汽车集团的合作协议,是进军越南市场的重要里程碑。<br /><br />陈唱摩哆指出,金龙汽车是中国专门生产各类客车和巴士的厂商,双方签署的越南独家装配及经销权为期五年,并可在双方的同意下延长。<br /><br />「金龙汽车集团於二零零六年至二零一零年时曾进军越南市场,并和当地的厂商合作。」<br />
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<br />https://9shares.my/%E8%8E%B7%E4%B8%AD%E5%9B%BD%E5%8E%A6%E9%97%A8%E9%87%91%E9%BE%99%E6%B1%BD%E8%BD%A6%E7%BB%8F%E9%94%80%E6%9D%83-%E9%99%88%E5%94%B1%E6%91%A9%E5%93%86%E8%B6%8A%E5%8D%97%E5%8D%96%E5%B7%B4%E5%A3%AB%E8%B4%A7/<br /><br />Unknownnoreply@blogger.comtag:blogger.com,1999:blog-25058915.post-4720752190893738002018-01-10T13:24:00.001+08:002018-01-10T13:24:20.725+08:00TCHONG (4405) 陈唱摩多 - 马币扬.库存降.推新车款.陈唱有望转亏为盈<br />
<a name='more'></a><br />2018-01-10 09:22<br />三大利好因素因素加持,沉寂已久的陈唱摩多有望今年转亏为盈,MIDF研究认为该股重新浮现价值,决定调高评级与目标价。<br /><br />
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<br />(吉隆坡9日讯)三大利好因素因素加持,沉寂已久的陈唱摩多(TCHONG,4405,主板消费品组)有望今年转亏为盈,MIDF研究认为该股重新浮现价值,决定调高评级与目标价。<br /><br />MIDF表示,今年该公司面对3大利好因素:一,马币走强、二,过去12个月成功降低库存、三,今年将推出新车款。<br /><br />MIDF说,该公司汽车组装进口业务18至20%的成本是以美元计价。按美元近期走势来看,MIDF相信该公司今年可转亏为盈。该股将2018及2019财政年美元的汇率设定在4令吉10仙及4令吉,美元每走强1%,将对该公司64%的盈利造成影响。<br /><br />陈唱摩多自2016年以来,就没有推出新车款,MIDF相信,该公司今年推出新车款后,并未能立马让该公司的市占率回升至7%至8%,但可改善该公司的盈利表现。料该公司未来2年的汽车销量可走高1.8%及2.1%。<br /><br />MIDF认为该公司降低库存后,预期净负债比将从0.55倍走低至0.4倍。<br /><br />MIDF预期该公司2018财政年可从前期亏损8100万令吉转为取得2100万令吉的核心净利,2019财政年的盈利预测为6100万令吉。<br /><br />MIDF决定上调评级至“买进”,目标价从1令吉85仙,调高至2令吉零5仙。<br />
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<br />文章来源:<br /><br />星洲日报‧财经‧2018.01.10<br /><br />http://www.sinchew.com.my/node/1717808/马币扬.库存降.推新车款.陈唱有望转亏为盈<br />Unknownnoreply@blogger.comtag:blogger.com,1999:blog-25058915.post-88093181216137141932018-01-09T21:58:00.000+08:002018-01-09T21:58:07.113+08:00HONDA超越TOYOTA DRBHCOM (1619) 多元資源股价再涨 汽车股开始受注目<br />
<a name='more'></a><br />HONDA超越TOYOTA<br />DRBHICOM股价再涨<br />汽车股开始受注目<br />09/01/2018 <br /><br />市场就是如此,当大市造好,很多行业也会跟着向好,去年经济成长强劲,今年料将延续,赚到钱的人都想换车了,汽车业今年开始看好。<br /><br />汽车业看好,大马股票交易所里的汽车股当然又成为投资者焦点,多元重工业(DRBHICOM 1619)是汽车股里最早"发市"的一家,今日再下一城,盘间触及RM2.60,收市挂在RM2.53。<br /><br />汽车业受看好,消费情绪改善是一大贡献,马币令吉汇美元大幅回升,也有利於汽车业,汽车业很多成本以美元计算,马币令吉回升,成本就省下一大笔,盈利必会提高。<br /><br />除了多元重工业(DRBHICOM)受看好,老牌汽车股陈唱摩哆(TCHONG 4405)也成为关注对象,该股经历了很长时间的横盘,显现出价值。<br /><br />无论如何,多元重工业仍是今年汽车界的"明星",因为除了中国吉利入主宝腾是一大刺激,该集团的姐妹公司大马本田二零一七年的新车销量由比前一年增长19%,由91,830辆增至109,511辆。<br /><br />本田在马来西亚的销量已超越丰田TOYOTA,去年的销量是二零零三年来最高记录,第一次超越十万辆。<br /><br />多元重工业持有马来西亚本田有限公司的34%股权,HONDA大卖,对它当然是好事。<br /><br />
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<br />HONDA CIVIC,HONDA CITY和HONDA ACCORD是本田的热卖产品,超越丰田相当合情理。<br /><br />根据调查公司Frost & Sullivan预计,今年大马汽车销量将达60万1000辆,较去年的58万9209辆整体目标按年增加2%。<br /><br />Frost & Sullivan汽车部副总裁Vivek Vaidya表示,令吉升值有望降低汽车零件及整辆进口车的进口成本,从而稳定今年的价格。<br /><br />他在Frost & Sullivan 的2018年汽车展望媒体汇报会上说:“(去年下半年)推出的全新第二国产车Myvi及其他主要汽车型号,包括全新的丰田CH-R(今年),也将会刺激今年的销量。”<br /><br />除了陈唱摩哆受看好,成功汽车(BAUTO 5248)也受注目,该公司盈利有望提高。<br /><br />惟Frost&Sullivan指出,国家银行继续致力改善贷款品质,可能令低收入家庭丶年轻买家及中小企业难以取得贷款,从而影响今年的汽车总销量。<br /><br />#DRBHICOM#1619#TCHONG #4405#BAUTO#5248Unknownnoreply@blogger.comtag:blogger.com,1999:blog-25058915.post-79821313629302122262017-11-29T16:01:00.000+08:002017-11-29T16:01:26.562+08:00TCHONG (4405) 陈唱摩多 - 亏损扩大 陈唱摩多跌至8年低位<br />
<a name='more'></a>(吉隆坡29日讯)第三季亏损扩大,促使分析员调降陈唱摩多(Tan Chong Motor Holdings Bhd)。<br /><br />这家日产汽车经销商昨日公布,截至9月杪第三季净亏2309万令吉,高于上财年同期的450万令吉。<br /><br />首9个月的净亏为8141万令吉,相比同期的5630万令吉。<br /><br />联昌国际投资银行研究今日在报告中,将该股的目标价从1.55令吉,下调至1.49令吉,并维持“减持”评级。<br /><br />“考虑到需求疲软,以及缺乏新车款,我们调低了2017至2019财政年的每股盈利预测9至72%。”<br /><br />休市时,陈唱摩多报1.52令吉,共9万4900股易手。<br /><br />彭博社数据显示,该股昨日盘中一度报1.49令吉,是自2009年9月1日以来的8年低位。<br /><br />肯纳格投资银行研究今日将陈唱摩多的目标价,由1.45令吉降至1.40令吉,“低于大市”评级不变。<br /><br />“鉴于盈利能见度不佳,以及季度蒙亏,这仍是我们的首要忧虑因素,因此股价可能较市账率大幅折价。”<br /><br />该研究机构在报告指出:“近期令吉兑美元和日本走强,仍不足以抵销对陈唱摩多商业模式的不利影响。”<br /><br /><br />
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<br /><br />(编译:陈慧珊)<br />
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<br />http://www.theedgemarkets.com/article/%E4%BA%8F%E6%8D%9F%E6%89%A9%E5%A4%A7-%E9%99%88%E5%94%B1%E6%91%A9%E5%A4%9A%E8%B7%8C%E8%87%B38%E5%B9%B4%E4%BD%8E%E4%BD%8D<br />Unknownnoreply@blogger.comtag:blogger.com,1999:blog-25058915.post-6086360251428873672016-11-29T11:08:00.000+08:002016-11-29T09:22:16.735+08:00Karex, Barakah, Manulife, Tan Chong Motors, UMWOG, TH Plantations, AWC, Scomi Group, MCT, Multi-Usage and TRC Synergy<br />
<a name='more'></a>KUALA LUMPUR (Nov 28): Based on corporate announcements and news flow today, companies that may be in focus on Tuesday (Nov 29) could include: Karex, Barakah, Manulife, Tan Chong Motors, UMWOG, TH Plantations, AWC, Scomi Group, MCT, Multi-Usage and TRC Synergy.<br />
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Karex Bhd, the world's biggest condom maker, expects revenue contribution from the Europe market to double in its financial year ending June 30, 2017 (FY17), thanks to its newly-acquired UK subsidiary, Pasante Healthcare Ltd.<br />
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Its chief executive officer Goh Miah Kiat said the slowdown in Europe will also help boost Karex's sales, as consumers there are more likely to opt for affordable products.<br />
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"With Brexit and the financial crisis in the European region, more people will lose their jobs and consumption will skew towards more affordable products — that is an opportunity for players like us to tap into the market there, because in the past, [the] European market was predominantly occupied by major brands," said Goh.<br />
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In FY16, the Europe market contributed 10% of Karex's total revenue, said Goh, adding that this figure could "easily" double in FY17.<br />
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Barakah Offshore Petroleum Bhd registered a net profit of RM1.97 million compared with a net loss of RM15.44 million a year ago, as a result of the cost reduction exercise that was implemented since the beginning of the current financial year ending Dec 31, 2016 (FY16).<br />
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Revenue rose 50.8% to RM167.19 million in 3QFY16 from RM110.89 million in 3QFY15, mainly due to higher revenue generated from its transportation and installation activities.<br />
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Higher certification of work done for the transportation and installation works caused the group's revenue to rise by 177.35% from the previous year's corresponding period.<br />
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The group said market conditions for the industry will be difficult in the immediate future because of continued decreased oil prices.<br />
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Manulife Holdings Bhd's net profit fell by 20.8% to RM12.64 million in its third quarter ended Sept 30, 2016, from RM15.96 million in the previous corresponding quarter, despite an uptick in revenue to RM266.27 million from RM191.3 million in the previous year, the group said.<br />
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The insurance and wealth management provider's asset management services segment reported a marginal improvement of 4% in its operating revenue from RM15 million to RM15.6 million.<br />
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For the nine months ended Sept 30, 2016, it posted a net profit of RM18.34 million, down 35% from RM28.35 million. Revenue rose 35% to RM810.07 million from RM600.7 million.<br />
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Going forward, Manulife projected challenges to its earnings from a low interest environment, worsening claims experience, high medical costs and channel distribution expansion costs.<br />
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Tan Chong Motor Holdings Bhd posted a third consecutive quarterly net loss of RM4.5 million in the third quarter ended Sept 30, 2016 (3QFY16) compared with a net profit of RM29.18 million a year ago, mainly impacted by foreign exchange rates and the weaker ringgit.<br />
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Revenue for the quarter grew 2.19% to RM1.4 billion from RM1.37 billion.<br />
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For the nine months (9MFY16), Tan Chong's recorded a net loss of RM56.3 million compared with RM69.69 million net profit in 9MFY15 while revenue rose 0.71% to RM4.24 billion from RM4.21 billion.<br />
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In the immediate term, the group said it will continue to improve and enhance the sales and marketing activities to sustain the sales in a competitive environment.<br />
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UMW Oil & Gas Corp Bhd (UMWOG) saw its fourth consecutive quarter in the red with a net loss of RM135.43 million for the third quarter ended Sept 30, 2016 (3QFY16) versus its net profit of RM218,000 in the same quarter a year earlier (3QFY15).<br />
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Revenue was 77% lower at RM49.65 million from RM212.7 million in the previous year, which, according to the group, is due to the idling of most of its assets under the drilling services segment, which accounts for 93% of its total revenue.<br />
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For the nine months to Sept 30, its net loss stood at RM267.76 million compared to its net profit of RM36.82 million a year earlier, while revenue fell 62% to RM267.34 million from RM708.57 million.<br />
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Going forward, UMWOG said a recovery in the O&G industry is mostly dependent on the impending decision by the Organisation of Petroleum Exporting Countries (OPEC) to cut oil production.<br />
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TH Plantations Bhd's third quarter net profit jumped 210% to RM19.18 million from RM6.19 million a year earlier, on higher average prices for oil palm fresh fruit bunch, palm kernel and crude palm oil.<br />
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In a statement, TH Plantations said revenue was higher at RM170.31 million in the third quarter ended Sept 30, 2016 (3QFY16) from RM133.49 million a year ago (3QFY15).<br />
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Cumulative 9MFY16 net profit rose to RM19.61 million from RM17.92 million a year earlier. Revenue meanwhile was higher at RM392.23 million versus RM325.98 million in 9MFY15.<br />
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Looking ahead, TH Plantations said it was "cautiously optimistic" of its 4QFY16 financials, on high commodity prices and weaker ringgit.<br />
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AWC Bhd's net profit increased more than four times to RM5.44 million or 2.1 sen a share in its first quarter ended Sept 30, 2016 (1QFY17) from RM1.25 million or 0.56 sen a share a year ago due to higher revenue contributions.<br />
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It said in a filing to Bursa Malaysia that its revenue grew 77.52% to RM67.12 million in 1QFY17 from RM31.81 million a year ago.<br />
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The group's improved earnings was due to strong contributions from the group's facilities, environment and engineering divisions.<br />
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It announced a final single-tier dividend of one sen per share in respect of the financial year ended June 30, 2016, which was approved in a recent annual general meeting. The dividend will be paid to shareholders on Jan 10, 2017.<br />
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Scomi Group Bhd registers a second consecutive quarter in the red with a net loss of RM21.2 million, as revenue almost halved on a year-on-year (y-o-y) basis due to lower contributions from its oilfield services, transportation solutions and marine services segments.<br />
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Revenue for the second quarter ended Sept 30, 2016 (2QFY17) fell to RM176.05 million from RM337.76 million a year ago, when it achieved a net profit of RM5 million, its bourse filing today showed.<br />
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Oilfield services was the biggest drag on its quarterly results, with a segment loss of RM7 million as compared to a segment profit of RM21.8 million a year ago, as revenue fell 56% to RM110.4 million from RM250.9 million, on lower drilling activities in several countries as its customers grew cautious in their drilling plans.<br />
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For its cumulative first half (1HFY17), it posted a net loss of RM33.4 million compared to a net profit of RM14.7 million in the 1HFY16, as revenue declined 42% to RM413.6 million from RM717.7 million.<br />
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MCT Bhd's net profit increased 3.84% to RM16.06 million or 1.2 sen a share in its first quarter ended Sept 30, 2016 (1QFY17) from RM15.46 million or 1.16 sen a share a year ago.<br />
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The slight rise in net profit was achieved despite a drop in pre-tax profit due to a lower effective tax rate during 1QFY17, the group said in a Bursa filing.<br />
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Revenue was down 16.27% to RM155.27 million from RM185.45 million.<br />
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Moving forward, the group said the property market is expected to remain challenging during the year due to the tepid economic outlook and the weak consumer sentiments.<br />
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Multi-Usage Holdings Bhd has suspended two of its directors, namely Gerald Mak Mun Keong and Tan Chew Hua, for a period of two months.<br />
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In a bourse filing, the group said it is suspending Mak to investigate his independence, while Tan is suspended for the investigation into the matters highlighted in the qualified auditors' report and the special audit report.<br />
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"The board authorised the nomination committee to lead the investigation into the above matters," it said.<br />
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TRC Synergy Bhd said it has received a notice of termination from MMC Gamuda KVMRT (PDP SSP) Sdn Bhd for works related to the new Sg Buloh-Serdang-Putrajaya Mass Rapid Transit Line (MRT Line 2).<br />
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The RM74.39 million contract included works to relocate a craft museum, Karyaneka office and the National Heritage Department office to Bangunan Sultan Abdul Samad as part of the MRT Line 2 project.<br />
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"Further to the termination letter, TRC had initiated the negotiation and discussion with the owner's project delivery partner on the consequences of the termination and to ascertain the final quantum of compensation payable to TRC pursuant to the contract documents. The negotiation is still ongoing," said TRC in a Bursa filing.<br />
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It said the termination is not expected to materially impact its earnings, net asset and gearing for the financial year ending Dec 31, 2016.<br />
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In a separate filing, TRC announced a 78% y-o-y jump in its net profit to RM15.15 million or 3.15 sen per share for the third quarter ended Sept 30, 2016 from RM8.51 million or 1.77 sen per share, boosted by higher margins. Revenue for the quarter, however, fell 20% to RM165.1 million from RM206.43 million a year earlier.<br />
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For the cumulative nine-month period (9MFY16), net profit was down 3% at RM20.7 million from RM21.46 million a year ago, while revenue declined 0.8% to RM547.53 million from RM552.1 million.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhAa2TDBNYhlzCFvxMZKJFbvUT6e9y95x84k-WKk6oyK09qjtdjWzfQStqY5r7jcZ2p_umXDJbfTMUzNt9vXHZ_UtikAPQQbzqL_PcvPVoYgB3hf14Lr0zlqOAxxfyhM5y64LinyA/s1600/corporate+may16.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="213" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhAa2TDBNYhlzCFvxMZKJFbvUT6e9y95x84k-WKk6oyK09qjtdjWzfQStqY5r7jcZ2p_umXDJbfTMUzNt9vXHZ_UtikAPQQbzqL_PcvPVoYgB3hf14Lr0zlqOAxxfyhM5y64LinyA/s320/corporate+may16.png" width="320" /></a></div>
http://www.theedgemarkets.com/my/article/karex-barakah-manulife-tan-chong-motors-umwog-th-plantations-awc-scomi-group-mct-multi-usage<br />
<br />Unknownnoreply@blogger.comtag:blogger.com,1999:blog-25058915.post-30672306165818645332015-04-22T15:01:00.001+08:002015-05-01T14:39:42.438+08:00TCHONG (4405) - TChong: It can't be that bad?! <h3 class="post-title entry-title" itemprop="name">
TCHONG (4405) - TChong: It can't be that bad?!
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Not too long ago, TChong was celebrated as a darling of the Malaysian
automotive sector. Its share price rose from RM1.50 in 2007 to a high of
nearly RM7.00 in 2013. It had a string of new models; tie-ups with
Nissan to tap new markets (Vietnam, Cambodia, Laos & Myanmar); and,
the prospect of huge gain from the sale or development of its Segambut
land. <br />
<br />
Those days seem like a distance memory. The overseas markets did not
yield as much profit as projected. The Segambut land development would
have to wait in the light of the poor property market. Finally, new
models that used to bedazzle the crowd seem to draw lukewarm response.<br />
<br />
With poorer financial results, TChong share prices dropped back to
RM3.00. Even at this low price, it did not find many takers. People may
shout: When the going get tough, the tough get going. The truth is
nothing succeeds as well as success and nothing recedes as fast as
success. TChong will learn that you are just as good as your last model.
And, for all the wannabe investment bloggers out there, remember this:
You are as good as your last good call! I'm digressing...<br />
<br />
Back to TChong! I have appended below 3 charts- TChong & AP's weekly
charts as well as TChong/APM composite monthly charts. APM and TChong
are controlled by Tan Chong Group.<br />
<br />
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEikNTMuwgYsuY9xbJIk9xx2VDlre7YGt9CQLjRkSiYDnD32Cp3EMcYvIOXkqln1TZGsMCetS5PalvvGF7XxjDrPjKU2mXNHp2ctfn11DN_UU2b786AbmrRJvPiYRA6eAYQ1q-sT/s1600/TChong+w20150422_11.30am.gif" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEikNTMuwgYsuY9xbJIk9xx2VDlre7YGt9CQLjRkSiYDnD32Cp3EMcYvIOXkqln1TZGsMCetS5PalvvGF7XxjDrPjKU2mXNHp2ctfn11DN_UU2b786AbmrRJvPiYRA6eAYQ1q-sT/s1600/TChong+w20150422_11.30am.gif" width="256" /></a><br />
<i>Chart 1: TChong's weekly chart as at April 22, 2015_11.00am (Source: Share Investors)</i><br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiFVIm6PzBS2rR5TKrmVGhwqMdeUjgbGk4XthahUQJwIWu9r0jn0uxYF1PEztxZFAeWUcxIfTGIL6-2RWegtNkzGjgfCFPHUBl963KergTCaK1Yg6oGHpKbnlt8yRDZMETxcvEj/s1600/APM+w20150422_11.30am.gif" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiFVIm6PzBS2rR5TKrmVGhwqMdeUjgbGk4XthahUQJwIWu9r0jn0uxYF1PEztxZFAeWUcxIfTGIL6-2RWegtNkzGjgfCFPHUBl963KergTCaK1Yg6oGHpKbnlt8yRDZMETxcvEj/s1600/APM+w20150422_11.30am.gif" width="256" /></a><br />
<i>Chart 2: APM's weekly chart as at April 22, 2015_11.00am (Source: Share Investors)</i><br />
<br />
If you look at TChong/APM composite monthly chart (Chart 3), you will
see that APM & TChong bottomed and peaked about the same time. You
can see that APM has recently rebounded back from its low. If the
correlation between APM & TChong persist, the recovery in APM holds 2
possibilities for TChong; the stock is either at the stage of forming
its bottom or it is about to rebound back (like APM). Being a
conservative, I would hold out for the first possibility. And, if you're
a patient sort of investor, you wouldn't mind considering TChong for
your long-term investment.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjid08-EB5h-F0LmtQ-_m49i-cqn2XrqtyhFViJwghhcFfutTha_eCQq7XWnEdzXOpTOOfjmqrCMrUS1FfJXE_5zvNG-ttVZgKGTse3sq9Bpa40AUY_OEWTJw7RnA52-ZVADaFP/s1600/APM+&+TChong+m20150421_11.50am.gif" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjid08-EB5h-F0LmtQ-_m49i-cqn2XrqtyhFViJwghhcFfutTha_eCQq7XWnEdzXOpTOOfjmqrCMrUS1FfJXE_5zvNG-ttVZgKGTse3sq9Bpa40AUY_OEWTJw7RnA52-ZVADaFP/s1600/APM+&+TChong+m20150421_11.50am.gif" width="298" /></a><br />
<i>Chart 3: TChong & APM's monthly chart as at April 22, 2015_11.00am (Source: Share Investors)</i><b><br /></b><br />
<b style="mso-bidi-font-weight: normal;">Note:<span style="font-family: Arial; font-size: 12.0pt; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-US;"> </span></b><br />
<b style="mso-bidi-font-weight: normal;"><span style="font-family: Arial; font-size: 12.0pt; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-US;">In
addition to the disclaimer in the preamble to my blog, I hereby confirm
that I do not have any relevant interest in, or any interest in
the acquisition or disposal of, TChong & APM.</span></b><br />
<br />
<b style="mso-bidi-font-weight: normal;"><span style="font-family: Arial; font-size: 12.0pt; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-US;"> http://nexttrade.blogspot.com</span></b>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-25058915.post-13431185778024580162015-02-26T14:41:00.001+08:002015-05-15T17:22:36.809+08:00TCHONG (4405) - Tan Chong Motor Holdings - Lagging final torqueTCHONG (4405) - Tan Chong Motor Holdings - Lagging final torque<br />
<a name='more'></a><br />Target RM3.62 (Stock Rating: HOLD)<br /><br />TCM’s FY14 net earnings came in within our expectation, making up 102.9% of our full-year forecast but below consensus at 90.4%. As expected, a final 3 sen dividend was recommended. The intense competition in the local auto industry had badly affected TCM and its prospects in 2015 do not look very good either. We cut our FY15-16 EPS forecasts by 39-43% to reflect the tough outlook for TCM and we introduce FY17 forecasts. We lower our target price, derived from 10.2x CY16 P/E, based on the industry average. Our Hold call remains. Switch to Berjaya Auto, our top pick for the sector.<br /> <br />Hit hardest by competition <br />2014 was a year to forget for Tan Chong (TCM). It was badly affected by the intense competition in the local automotive industry. Its FY14 net earnings plunged 57.8% yoy to RM105.9m on the back of an 8.4% yoy drop in revenue to RM4.8bn. Its operating margin tumbled 3.1% pts to 4.4%, caused mainly by the aggressive promotional campaigns undertaken in order to sustain Nissan’s market share and reduce its inventory level. The weakening RM against the US$ made things worse given TCM’s large exposure to the greenback on its cost of sales due to its ASEAN parts sourcing strategy.<br /><br />Nissan lost market share <br />From being the best-performing brand in 2013, Nissan became the worst-performing major foreign brand in 2014. Its sales volume declined 12.6% yoy to 46,352 units, due mainly to the plunge in sales volume for its best-selling model Almera. The model was hit hard by the introduction of other new models in the highly-competitive B segment. As a result, its market share shrank 1.1% pts to 7.0% and it lost its position as the second-biggest foreign car maker in Malaysia to its traditional rival Honda.<br /><br />Equally challenging 2015 ahead <br />We expect 2015 to be another challenging year for the group. Although it has introduced a few new and facelift models at end-2014 and early-2015, namely, the Almera facelift, the new Serena S-Hybrid and the new X-Trail, weak consumer sentiment, uncertainties surrounding GST implementation and the strong US$ against the RM are the major issues that have to be overcome by TCM this year. Hence, we believe it will be difficult for Nissan to register significant volume growth and regain its market share in 2015.<br /><br />Source: CIMB Daybreak - 26 February 2015<br />Unknownnoreply@blogger.comtag:blogger.com,1999:blog-25058915.post-15394043412122262292015-02-25T22:38:00.001+08:002015-05-15T17:22:36.882+08:00Stocks To Watch - KNM, TM, Utusan, Icon Offshore, Media Prima, Petra Energy, TNB, Integrax and Tan Chong<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgCprSGojeLhU9dlH9-hJQggSk_EuseiXl76ljf_yrl2ldr-_PCHtrn9MODlj9aZVvgnWlJKUPEfjlIhpgdFSMiEzio3thgL_-oqlsmq1oCBxB6rfrZLYzAumDhZJ-NhC5Gi4cF/s1600/stocks+to+watch+1.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgCprSGojeLhU9dlH9-hJQggSk_EuseiXl76ljf_yrl2ldr-_PCHtrn9MODlj9aZVvgnWlJKUPEfjlIhpgdFSMiEzio3thgL_-oqlsmq1oCBxB6rfrZLYzAumDhZJ-NhC5Gi4cF/s1600/stocks+to+watch+1.jpg" height="139" width="200" /></a></div>
Stocks To Watch - KNM, TM, Utusan, Icon Offshore, Media Prima, Petra Energy, TNB, Integrax and Tan Chong<br />
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KUALA LUMPUR (Feb 25): Based on corporate news flow and announcements today, stocks in focus tomorrow (Thursday Feb 26) could include: KNM Group Bhd , Telekom Malaysia Bhd (TM) , Utusan Melayu (Malaysia) Bhd , Icon Offshore Bhd, Media Prima Bhd , Petra Energy Bhd , Tenaga Nasional Bhd (TNB) , Integrax Bhd and Tan Chong Motor Holdings Bhd .<br />
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KNM Group Bhd saw its net profit for the financial year ended Dec 31, 2014 (FY14) doubled to RM45.69 million or 2.94 sen per share, from RM23.45 or 1.6 sen per share a year earlier, due to improved margins.<br />
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Revenue however, declined 12.3% to RM1.87 billion, compared to RM1.99 billion a year ago.<br />
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In the fourth quarter ended Dec 31, 2014 (4QFY14), KNM (fundamental: 0.85; valuation: 1.2) saw its net profit fall 47.22% to RM3.97 million or 0.26 sen per share, from RM7.51 million or 0.51 sen per share in 4QFY13.<br />
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Revenue for the quarter was down 21.54% to RM451.24 million, from RM575.13 million in 4QFY13.<br />
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Telekom Malaysia Bhd (TM) has received a letter of award (LoA) from the government for the implementation of both the High Speed Broadband Phase 2 (HSBB 2) and the Sub-Urban Broadband (SUBB) projects.<br />
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In a filing with Bursa Malaysia today, TM (fundamental: 1.1; valuation: 0.9) said the collaboration with the government would see it deploy the access and domestic core networks to deliver an end-to-end HSBB infrasructure for both projects.<br />
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Both HSBB 2 and SUBB, with investment costs of RM1.8 billion and RM1.6 billion respectively, are for a period of 10 years, it said.<br />
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Utusan Melayu (Malaysia) Bhd saw its net loss multiply to RM44.32 million in the fourth quarter ended Dec 31, 2014, from RM4.66 million in the year before, bringing its loss per share (LPS) to 40.03 sen from 4.20 sen, due to lower revenue and higher impairment charges on trade and other receivables.<br />
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Its revenue for the quarter was RM76.64 million, down 15% from RM89.82 million in the corresponding quarter a year earlier.<br />
<br />
For the financial year ended Dec 31, 2014, Utusan’s (fundamental: 0.2; valuation: 1.2) net loss widened to RM80.9 million, from RM16.21 million in the year before; while revenue fell 15% to RM291.32 million, from RM342.43 million.<br />
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Its LPS for the year was higher at 73.05 sen, compared to 14.64 sen.<br />
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Media Prima Bhd (fundamental: 1.8; valuation: 1.2) slipped into the red in its fourth quarter ended Dec 31, 2014 (4QFY14), with a net loss of RM29.49 million, from a profit of RM63.44 million in the previous corresponding quarter, due to expenses incurred for its mutual separation scheme (MSS).<br />
<br />
Excluding the one-off MSS effect, the group’s net profit declined by 13% from 4QFY13, Media Prima told Bursa today. Revenue for the quarter also came in lower at RM384.7 million, down 14.8% from RM451.56 million previously.<br />
<br />
The group announced a final single-tier dividend of 5 sen per share for the quarter, bringing the total dividend for FY14 to 11 sen per share, which is 21.4% lower than the 14 sen per share in FY13.<br />
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Its full FY14 net profit was RM75.53 million, down 64.7% from RM214.02 million in FY13; revenue also slipped 12.5% to RM1.51 billion, from RM1.72 billion previously.<br />
<br />
The company attributed the weaker full year earnings to market uncertainties, weak consumer sentiments, and the tragic airlines incidents that caused advertisers to take a more cautions stance on advertisement placement.<br />
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Offshore support vessel (OSV) provider Icon Offshore Bhd has clinched six out of the eight packages being offered by Petronas Carigali Sdn Bhd, under the latter's umbrella contract for the provision of spot charter of marine vessels.<br />
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In a press statement, Icon Offshore (fundamental score: 0.95; valuation score: 0.90) said its wholly-owned subsidiary Icon Offshore Group Sdn Bhd had recently received a Letter of Award (LoA) for the said packages, which included ones for the provision of marine vessels in the categories of anchor handling tug/supply, vessel, straight supply vessel, platform supply vessel, utility vessel, workboat and work barge.<br />
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Petra Energy Bhd has returned to black in its fourth quarter ended Dec 31, 2014, with a net profit of RM5.32 million, compared to the previous corresponding quarter’s loss of RM80,000. Revenue too, was up by 40.94% year-on-year to RM221.63 million.<br />
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The oil and gas services provider also doubled its dividend payout in the quarter under review, to two sen a share.<br />
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For the whole of FY14, net profit was up 163% year-on-year to RM33.49 million or 10.41 sen a share. This compared with FY13’s earnings of RM12.74 million or 4.2 sen per share.<br />
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Petra (fundamental: 0.8; valuation: 1.2) registered revenue of RM638.63 million in FY14, which was 30.16% higher than the previous year’s RM490.65 million.<br />
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Tenaga Nasional Bhd (TNB) has upped the offer price by 50 sen to RM3.25 for shares it does not own in port operator, Integrax Bhd, after Perak Corp Bhd (fundamental: 1.9; valuation: 1.2) rejected the RM2.75 offer price on Monday.<br />
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With this new offer price, TNB (fundamental: 1.3; valuation: 1.8) which holds 22.12% of Integrax (fundamental: 1.65; valuation: 0.6), will now have to fork out RM761.38 million to take over Integrax, which is an additional RM117.14 million, from RM644.24 million previously.<br />
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Tan Chong Motor Holdings Bhd (fundamental: 0.8; valuation: 1.8) saw its net profit for the fourth quarter ended Dec 31, 2014, plunged 87.2% to RM8.67 million or 1.33 sen share, while revenue dipped 6.7% to RM1.26 billion, as fierce promotional campaigns in the automotive sector hit profit margins.<br />
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Its 2014 full year net profit also dropped 57.82% to RM105.85 million, as revenue fell 8.4% to RM4.76 billion.<br />
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In its filing to Bursa Malaysia, the Nissan vehicles distributor said due to the highly competitive environment in the local automotive industry, it had stepped up promotional campaigns to sustain market share and reduce its inventory, at the expense of profit margins.<br />
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The group noted the strong promotional campaigns had reduced its inventory to RM1.52 billion as at Dec 31, 2014, from RM1.73 billion as at Dec 31, 2013.<br />
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Tan Chong noted its prospects remain challenging, as the weakening ringgit has added pressure on the imported costs of materials required in the automotive industry.<br />
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