tag:blogger.com,1999:blog-56365830823986793772024-03-10T12:13:39.826-07:00Lifevest以生活看待投资 用心感受世界进步Simple Investinghttp://www.blogger.com/profile/07534303062433189556noreply@blogger.comBlogger75125tag:blogger.com,1999:blog-5636583082398679377.post-4419951984538424072020-08-07T21:39:00.005-07:002020-08-07T22:53:35.089-07:008月7日市场点评-中美科技冷战再度升级 by周伯通<p> <span style="font-family: Arial; font-size: 11pt; white-space: pre-wrap;">Lifevest by周伯通</span></p><span id="docs-internal-guid-c1475f07-7fff-e7aa-42a8-9ce86ef2966e"><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">8月7日市场点评-中美科技冷战再度升级</span><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br></span><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-美国总统进一步威胁中国企业 no tiktok & no wechat!</span><span style="font-family: Arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br></span><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">美国东部时间周四晚,美国总统签署两份行政命令,宣布将在45天后禁止任何美国个人和企业等实体与TikTok母公司字节跳动和微信母公司腾讯进行交易。</span></p><br><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">在特朗普下令45天后禁止与微信进行交易后,腾讯公司表示,腾讯正在评估该行政命令,以获得充分了解。</span></p><br><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-美国对在美国上市的中国公司提出更严厉的条件,否则退市!</span><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br></span><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">白宫方面当天推出一项提案,计划要求在美上市的中国企业都必须遵守美国的审计要求,否则这些公司将被迫退市</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br></span><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">川普封殺微信消息傳出後,騰訊在港股瞬間暴跌10%,恒指收跌1.6%,属亚洲之冠。</span><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br></span><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br></span><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">那腾讯基本面真的被影响了?还是市场找借口在高位回调?</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">目前腾讯游戏业务在美国收入占比较低,2019年四季度腾讯海外游戏收入占整体游戏收入23%,来自美国地区的收入占海外游戏收入约20%,占腾讯整体游戏收入比重则不足5%,占公司整体收入不足1%,即使被禁对公司收入影响有限。广告业务方面,海外WeChat用户占微信整体用户比重较低,美国用户数量有限,且变现水平低,被禁后将不会对广告业务营收产生明显影响。</span><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br></span><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br></span><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">我们看了基本面之后,今天市场大跌多数是市场找借口在高位回调,毕竟短线利润非常可观了。</span><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br></span><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br></span><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">至于马来西亚市场,有很多股票出现大跌,Top loser 分别是Adventa -22.3%,HLT- 20.8%,IRIS -20.7%,LKL -20.6%,这些大跌的股票都有一个共同的特征就是公司的未来盈利无法跟上目前股价的估值,也就是说纯粹炒高价格而股价也许有泡沫的嫌疑,大家要特别小心这类股票,反而之前升幅很多的四大天王手套股Harta -3.3%,supermx -3.62%,topglove -0.92%,kossan -1.04%等跌幅属于正常回调,因为这四大天王手套股的股价虽然升幅很高了,但是它们的背后有未来盈利支撑股价如手套平均销售价格比之前高出5倍以上还有手套的需求因为疫情出现了结构性的改变。(HARTA CEO的最新看法)</span><a href="https://www.youtube.com/watch?v=X0vYHyEAnYw" style="text-decoration-line: none;"><span style="background-color: white; color: #1155cc; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">https://www.youtube.com/watch?v=X0vYHyEAnYw</span><span style="background-color: white; color: black; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br></span><span style="background-color: white; color: black; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br></span></a><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">所以大家要分清楚炒股的背后只是炒故事主题(要特别小心这类公司尤其是没有track record公司常年处于亏损)突然和你说转型来卖投资者一个未来的梦想这时候你就要小心了 ,记得泡沫破灭时只是终究一场空千万不要做最后一个接盘侠,这类公司大家要记住本性难移啊,风险非常大尽量可以避开就要避开,而好股的背后是本身是有track record支持而且未来盈利增长是有商业依据的。</span><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br></span><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br></span><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">目前的全球经济依然处于复苏阶段,只是股票走势比实体经济复苏得更加快是无可否认得,很大的原因是来自全球政府推行低利率的时代,股票的合理估值自然会提升到更高的层次,因为全球资金非常宽松,只要资本市场信心稳定加上目前预计疫苗年底面世之后全球经济可以逐步返回正常。</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">疫苗将终结covid-19</span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;"><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">https://m.facebook.com/story.php?story_fbid=731423877424119&id=460404251192751<br></span><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br></span><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">美国国务院取消全球旅行警告,特朗普表示,新冠疫苗最早三个月后问世,可能在11月3日左右面世。</span><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br></span><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">北京时间8月6日凌晨两点左右,美国国务院宣布,取消在新冠病毒大流行期间与国际旅行有关的全球卫生警告,并表示将恢复以前针对特定国家/地区的旅行建议体系。消息公布后,美股航空股短线上扬,Passport Index最新数据显示,美国护照的评级已经在过去一年下滑50%。 该警告于2020年3月19日发布,当时由于新冠病毒肺炎疫情在全球蔓延,美国政府建议公民避免所有国际旅行。</span><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br></span><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br></span><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">最后大家谨记,身为投资者的我们千万不要和政府政策作对,因为空头圈子里面有一句名言“</span><a href="https://www.teamblind.com/post/Never-fight-against-the-fed---I-am-the-biggest-idiot-P05F2iVL" style="text-decoration-line: none;"><span style="background-color: white; color: #1155cc; font-family: Arial; font-size: 15pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Never fight against the fed </span></a><span style="background-color: white; font-family: Arial; font-size: 10pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">”也就是说空头千万不要和美联储作对,因为美联储的钱可以无限印钞的而我们不是,</span><span style="background-color: white; font-family: Arial; font-size: 10.5pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">值得注意的是,美联</span><span style="background-color: white; font-family: Arial; font-size: 10.5pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">储今年7月公布的点阵图显示,其接近零利率的“高度宽松”货币政策或持续至2022年底。全球进入低利率时代还有很长一段时间,这段时间我们一同拭目以待全球的金融资产估值会升到哪一个境界吧!</span></p><div><span style="background-color: white; font-family: Arial; font-size: 10.5pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><br></span></div></span>Simple Investinghttp://www.blogger.com/profile/07534303062433189556noreply@blogger.com0tag:blogger.com,1999:blog-5636583082398679377.post-76126633578357531972020-01-12T19:08:00.001-08:002020-01-12T19:14:18.864-08:00无现金时代的投资机会-Sqaure金融科技公司<div dir="ltr" style="line-height: 1.295; 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<span style="font-family: Calibri, sans-serif; font-size: 14pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Square</span><span style="font-family: Calibri, sans-serif; font-size: 14pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"> 是一间在 2009年成立于美国的金融科技公司,总部设在旧金山。这间公司是由两位美国的创业和企业家,Jack Dorsey 和 Jim Mckelvey 成立的,而Jack Dorsey本身也是大家熟悉的社交媒体 Twitter 的创办人,身价过十亿。那么,话说今天大家都生活在一个一触即通的时代,移动电子产品和数码化已经开始广泛的影响了我们每天的作息。Square就是一个搭上了这个互联网和移动电子智能产品风潮而这间公司也是 Paypal 问世后最有潜能的一间金融科技公司。话说一开始这间公司的创立是因为 Jim Mckelvey当时是一间小商店的老板。每天他都面对一个小商家共同的问题,就是该不该收信用卡,而或者眼巴巴的看着顾客离开失去生意。之后 Jim 就联络上了他的好友 Jack 来一起探讨这个问题,能不能有一个更方便。更便宜让小商家接受信用卡的硬体来取代普通大商店的刷卡机。所以Square一开始就只是从事生产一个小型的能够方便 attach在我们的智能手机的刷卡机以让小商家和普通小贩能够接受信用卡支付的一间公司,从而提升小商家和小贩的营业额。渐渐的,Square的这个方案获得美国普通群众和商家的好评因为其使用的成本十分低,而且极度的方便,只需要拥有一个 Square 的刷卡机再加上一部智能手机然后下载 Square apps 就可以开始啦。而就是从 jim 和 Jack 的这个小小的灵感和创新,使得后来 Square 后来发展神速,并与 2015 年在 纽交所纳斯达克上市. 今天,在短短十年的光景,Square 已经发展成为一个全方位的金融科技公司,所涉及的业务 除了包括 Square GPV, 还有 Square Capital, Square Cash App 和 Square payroll, Bitcoin Trading,P2P money transfer 等等。那么,就让我们一起去仔细的研究 Square 的生意模式吧。</span></div>
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<span style="font-family: Calibri, sans-serif; font-size: 14pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Square hardware & point of sales</span><span style="font-family: Calibri, sans-serif; font-size: 14pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"> 是 集团里面最早的业务,其所涉及的就是从商家每一个transaction抽取 0.25% 再加上 0.15 仙的费用。今天,这个部门已经成为 Square 最大的营业额来源,单单在 2019 年 Square就负责 process 了大约 USD 84.7 billion 的 GPV ( Gross Processing Volume). 对于一个金融科技公司来说,GPV越大,代表其生意量越大,而如今 Square 已经和大约美国 150 million 的小商家拥有紧密的合作和生意关系,其 retention rate 也达到 87 %。而且,Square 还打算建立一个以 Ipad 为基础的无人 point of sales 系统方便 商家控制劳力成本,以后不必在请收银员在柜台,直接刷卡在 Square 的 硬体即可。所以说, Square point of sales transaction和 hardware 是帮助 公司带来广大客户的一个引,而他们也占了公司终营业额的 67%,而hardware则占了 2%。</span></div>
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<span style="font-family: Calibri, sans-serif; font-size: 14pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Square Capital</span></div>
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<span style="font-family: Calibri, sans-serif; font-size: 14pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Square Capital</span><span style="font-family: Calibri, sans-serif; font-size: 14pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">是集团的另一个重要的生意及营业来源。Square capital 主要是和 各大金融集团合作提供微型和小型贷款给小商家了以让他们能够维持普通的商业开销和营运资金。而正是这些小型的贷款时大银行不想也不能提控贷款的一个 underserve segment. 众说周知大家都知道小商家和小贩通常都面对向银行贷款的问题,而许多生意都是因为资金周转不灵而到最后倒闭。Square Capital 在这方面就起了提控金额最小 100 快到最多 10,000快的贷款,而通常贷款的期限最多都是六个月到九个月的时间。那么,Square就会从中抽取 fee, principal 和利息。此外, 为了避免因为烂帐太多,Square Capital会利用大数据来分析客户的 credit history及偿还能力来发放贷款,这是因为经过这几年的经营 Square 已经获取大量的数据以供他们分析,从中 Square可以知道各个小商家的财务状况包括生意季节的兴旺,顾客群,交易量等等。 Square 通过这些数据能够 作出准确的 underwriting从而保护 Square Capital 的 资产质量。另外,Square capital 也作出了许多灵活多变的偿还模式使到小商家不会面对贷款的压力和负担。首先, Square Capital 会利用大数据来分析是否当下商家有能力还债,如果生意好的时候 Square就会从 point of sales哪里抽取多一点的fee, 当淡季的时候 Square 就会抽少一些费用。由于整个过程是自动化的,所以 Square Capital 所面临的 default 风险也可以降到最低。如今,Square capital 已经发行了总额 $ 5,5 billion的贷款,而有多达 885,000大款被发放给小商家,而且这个segment未来还会在持续的高速度成长。</span></div>
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<span style="font-family: Calibri, sans-serif; font-size: 14pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Cash App</span></div>
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<span style="font-family: Calibri, sans-serif; font-size: 14pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">这个部门算是真真带领Square 集团未来十年到另外一个高峰的一个生意。其实,cash app就是真真把 Square从一个仰赖point of sales的vendor和TPV 变成一个真真的 fintech company. 根据美国彭博社的报告。在 2016 cash app只拥有大概 Usd 1 million的营业额,可是在 2019年 却已经来到了惊人的 USD 635 million,而且未来三年 CAGR 成长率会达到 60% -65%。那么,cash app 到底是做什么的呢?其实很简单Cash app 一开始是做P2P transfer ( peer to peer transfer) 和少许的 instant transfer的业务而已,其目地就是让用户方便的一个 payment platform. 比如说当你和你朋友吃饭的时候,有时候你朋友会帮你给钱先,那么通常人家都是会通过银行transfer还钱。通过Cash App,那么只要你们双方都是 Square Cash App或其他Square 产品的用户的话,那么双方就可以直接 P2P transfer,而且是零费用喔。当 Square 的GPV按年增加,Square 却发现这些年他们获得了海量级的客户数据,包括 merchant和 individual,而这也无意间帮助Square发展 fintech 业务。今天,Cash app的 Saas ( Software as a service) 业务包括 data analysis, real time sales analysis, e commerce, business payroll等等。Square专注在帮助 merchant 提高他们的销售额和进行 inventory 和 working capital 上的管理,而且通过Square 的数据可以提高marketing 和 advertising的精准度,帮助到许多中小型生意放大他们的生意量。另外,这个software platfom还可以让商家通过 platform打广告。此外,在聘请员工方面,Square的 software可以准确预测包括天气或者人流量,对于一些仰赖part timer的小商家,他们就可以通过 Square 的 service而做出对的决定,比如在旺季的时候才多请临时工,这样就可以节省大笔的开销了。今天,这个部门不仅是增长最快的部门,而且也是 gross profit margin最高的,达到了 40% 的 margin,而且还只占中集团营业额的 22%而已喔。</span></div>
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<span style="font-family: Calibri, sans-serif; font-size: 14pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 213px; overflow: hidden; width: 320px;"><img height="213" src="https://lh5.googleusercontent.com/vpwx1JbpdMCsrq7IMXV4BjdX6ZGy_KFZ6Vv2D-1Mm7-Svz3A33AkvDrKetN2xAbUF0sYgGWk5zKnWM4R02Frf-j0e-_TKafNbrGjLJJWNyNNtwY9WK_snNkbHqj3Eg" style="margin-left: 0px; margin-top: 0px;" width="320" /></span></span></div>
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<span style="font-family: Calibri, sans-serif; font-size: 14pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">此外,Square Cash app 也准备推出许多 feature, 比如 Square card,一种商用的debit card,堂堂正正的叫板如 Pay Pal, Visa 和 Master 等龙头。以前,Cash App只能 link去其他的信用卡公司来让用户 direct deposits 或者 从银行的account transfer进 Cash App. 当推出 Square card后,以后用户就不必像其他 比如 Apple Pay还需要link去自己的 credit card, Square Card 这完全不需要,这对一些没有银行户口的人们是天大的好消息因为这可以节省很多步骤和麻烦的程序,而 every transaction则抽取 1%的佣金。别忘记,cash app的 竞争对手 Venmo,也是 Paypal则是抽取 1.5% 的佣金喔。如今,Square card已经在短短两年就已经贡献了大约 5-10% 的营业额,而且未来还会继续成长。而且 merchant adoption rate 在 Square 的客户里已经有10%,未来的成长潜力肯定是会非常庞大的。</span></div>
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<span style="font-family: Calibri, sans-serif; font-size: 14pt; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">终结</span></div>
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<span style="font-family: Calibri, sans-serif; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="border: none; display: inline-block; height: 511px; overflow: hidden; width: 602px;"><img height="511" src="https://lh4.googleusercontent.com/7gcvIH-SYel6EZ9tOginRtm9ggpBMABpIuTPDYRqUNMY0yLjfc_jcS74HMqUwLbW22EtL9yS_guNSqLgtVrPHMWyE5JbIHxv9CVzHP5xoTPQl9isneGgLg3nApYBrg" style="margin-left: 0px; margin-top: 0px;" width="602" /></span></span></div>
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<span style="font-family: Calibri, sans-serif; font-size: 14pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">所以,通过上面的分析和解说我们可以很清楚的了解到 Square的未来潜能的却很大。再加上,如今无现金社会,大数据和互联网再加上 5G 时代都可以让许多行业取得更大的突破,而 Square站在对历史的洪流之上相比肯定是前程无量。再加上,Square 的两位老板也是一个敢于拥抱新科技而不安于现状的企业家,而且通过Square的一系列企业活动可以看得出 Jack本身想打造一个属于 Square 的生态圈,就好象 Paypal 和苹果等大型企业。当有了强大的生态圈后,那么就可以形成所谓的顾客粘度和忠诚度,从而使到顾客的转换成本提高。这个也正好符合了股神巴菲特所说的护城河投资概念。此外,Square的商业模式是属于轻资产和迈向规模经济的高赚幅模式,这样不仅体现了当今美国经济的趋势,也应证了美国经济转型的成功。从 2016 年开始,Square股价就从 $8 一路成长到$ 92, 虽然过后因为一系列问题包括华尔街分析师的downgrade股价经历了一系列的回调和调整到 $ 50, 可是去年股价也收复失地起了 18%,反观 Paypal却起了 23%。以一个金融科技和营业额和盈利按年成长的公司来说,确实拥有低估的成分。那么,接下来 Square究竟会有怎样的表现,而市场对于金融科技公司又愿意给出怎样的一个估值,就让我们拭目以待吧!!!</span></div>
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<span style="font-family: Calibri, sans-serif; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">文章作者</span></span></div>
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<span style="font-family: Calibri, sans-serif; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">Lifevest-Lee Yu Ming</span></span></div>
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Simple Investinghttp://www.blogger.com/profile/07534303062433189556noreply@blogger.com1tag:blogger.com,1999:blog-5636583082398679377.post-56496774698071470762019-03-20T20:29:00.002-07:002019-03-20T20:35:06.468-07:00JOHOTIN传统锡罐制造商的转型之路By 周伯通<div dir="ltr" style="line-height: 1.38; margin-bottom: 16pt; margin-top: 0pt;">
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<span style="font-family: "arial"; font-size: 14pt; white-space: pre;">编写日期2019年2月15日 BY Lifevest 周伯通 / THAM CHIN FATT </span></div>
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<span style="font-size: 14pt;">JOHOTIN 柔佛珍成立于 1973 年,在 2003 年挂牌于大马交易所,</span></div>
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<span style="font-size: 14pt;">是一家老牌锡罐制造商 (Tin Can),帮助很多F&B客户的产品量身定做锡罐。</span></div>
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<img height="265" src="https://lh6.googleusercontent.com/f4oZ1f94ppLd3-Y9mg33_G2evUCVU2dFe6BMlch9xA1FNrDPgoBWCL3fn23sEJtzEY0X7td86cifSH11i4NkqxabTx-6Pp1TpNGafIc2b1Buk6ajao5FmxC6WzoVQkHmPWrw8JKe" style="border: none; font-size: 14pt; transform: rotate(0rad);" width="519" /></div>
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<img height="304" src="https://lh5.googleusercontent.com/ugzmoDHOwuRZGaqGHWgSQ1tlG5tw_uC6-R7G-oJPqpdjf42ebFxiBokgQtnFVj2DdUYbg_ipDeId_C5OEVdIvUxiwJKCxXBEfAszFgQ9VHHNeSGNqiKT2tMugWJchpaY2x15vGKL" style="border: none; font-size: 14pt; transform: rotate(0rad);" width="624" /></div>
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<span style="font-size: 14pt;">柔佛珍由于原本的锡罐生意遇到市场增长瓶颈了,从上图可看出营业额在2007年</span></div>
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<span style="color: black; font-family: "arial"; font-size: 14pt; vertical-align: baseline;">至2010年期间无法取得新的突破,所以这使柔佛珍的管理层在 2011年以3100万
收购旗下顾客的 Able 乳制品有限公司而正式进军乳制品市场,这一举动为公司
注入了新的增长引擎。</span><span style="color: black; font-family: "arial"; font-size: 14pt; vertical-align: baseline;"><img height="275" src="https://lh3.googleusercontent.com/b7ySnCyVWSfVE46ekb6uTmdKjEXdtyhxyY4vsqlboN2C-jJaylRiCwcwdIQPbeaX1ORyKHmGgY6HrbyJe89Apwwfa1NtFcJkXBY5B7J1q0q29iJ5aweMbb1n-Q4zqaR00iKO40Mh" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span></div>
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<span style="font-size: 14pt;">Able 乳制品的业务涉及生产及销售乳制品(diary product),例子有炼乳
condensed milk ,淡奶 evaporated milk。</span></div>
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<img height="205" src="https://lh6.googleusercontent.com/M-J6Ui7aTPBWYQkhnhC9ffBElDQIPgFNSu7LuG4pGMqX-O-wU9i8s0yFDE_J7YG3cpowL7iPTp397FaPKZLzdcOw9O6V9AU3E1BcXKeC4loUi_BGJE4py-cZfCWYbGudlK5q3Bov" style="border: none; font-size: 14pt; transform: rotate(0rad);" width="624" /></div>
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<span style="font-size: 14pt;">这些产品都是我们生活上所需要用到的必需食品,因为无论在咖啡,蛋糕,甜品的
制作过程当中都需要用到炼乳和淡奶。</span></div>
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<span style="font-size: 14pt;">公司的营业额也因为这项收购后蒸蒸日上,营业额在2011年首次突破1亿零吉马币~</span></div>
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<span style="color: black; font-family: "arial"; font-size: 14pt; vertical-align: baseline;"><img height="276" src="https://lh4.googleusercontent.com/S1nI_fEE5DfnMBgIQvk54RLsJ3Hp3vIXyYUgD7M_tOLykw29t_05k0QZrMi9Da_MMoFFkgs--3029YBtDktJBHeSIKJUJfmPSYt4HamXcPLxPhvvAY4o2YXdxDmjSsAy9qYDjbgT" style="border: none; transform: rotate(0rad);" width="624" />
</span><span style="color: black; font-family: "arial"; font-size: 14pt; vertical-align: baseline;">营业额在2012年首次突破2亿零吉马币~</span></div>
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<span style="font-size: 14pt;">柔佛珍在2013年又做了一项收购,收购ABLE FOOD SDN BHD 80%的股权正式
进军孩童的奶粉市场,又为公司注入新的增长动力。</span></div>
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<span style="color: black; font-family: "arial"; font-size: 14pt; vertical-align: baseline;"><img height="219" src="https://lh4.googleusercontent.com/_WTGO7mj8bF0qtM1Ugvo856gwq7kwaIjgrpaP_MjcDbSm82Uv8g-rw60cUKYWwcipk6NPeoKZwyImImXfOBGxxEOAtgZv8AobfLlW8UHjOGLlBuV3FGC5mDjcjKpcO6pTe6HqCd1" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="251" /></span><span style="color: black; font-family: "arial"; font-size: 14pt; vertical-align: baseline;"><img height="475" src="https://lh3.googleusercontent.com/lsH1IEyKEeDeAm7hEwv2hxr4K4kY7NISCwxfZ7GFZXsLtOYhX-721IBTvRxS9XFwYfjlzVmXTNwiw_ZKsdZEoWJVvIYD-UvjZZ1Uu0h9ll8_b1se9UTrq2gI4IttxU_VzopEcDpx" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span></div>
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<span style="font-size: 14pt;">上图就是柔佛珍的奶粉品牌,货源来自纽西兰。虽然大家并不熟悉,但这些奶粉
依然有很大的市场潜力,主要销售给较落后的发展中国家如大多数是出口国给
非洲和东南亚等第三世界国,市场定位较低段加上第三世界国家的竞争者很少,
所以竞争并没有很大的问题。</span></div>
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<span style="font-size: 18.6667px; white-space: pre;"><br /></span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 13.999999999999998pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<span style="font-size: 14pt;">由于多了奶粉业务的收入来源,营业额在2014年首次突破3亿零吉马币~</span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 13.999999999999998pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<img height="309" src="https://lh5.googleusercontent.com/PvEsrgyWa31gIlsgZihd-gCQ0TSZgAOLwRMEqdBGzTSQ6FXeTw4cFRncElb8Qsigig7aNBSU8WAMf2nChCBjObQp8bPeZKLa_zdhsfARJeIQxI9rNX6Y5Umxunza9NTTwQ7snUQc" style="border: none; font-size: 14pt; transform: rotate(0rad);" width="624" /></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 13.999999999999998pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<span style="font-size: 14pt;">营业额在2015年首次突破4亿零吉马币~至2017年来到4.7亿零吉马币,剑指5亿零吉
马币大关的日子指日可待。</span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; vertical-align: baseline;"><div style="text-align: justify;">
<span style="font-size: 18.6667px; white-space: pre;"><br /></span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 13.999999999999998pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<span style="font-size: 14pt;">柔佛珍的业务区分主要为锡罐制造TIN MANUFACTURING和食品
FOOD & BEVERAGE两大业务。</span></div>
</span></div>
<ul style="margin-bottom: 0pt; margin-top: 0pt;">
<li dir="ltr" style="background-color: transparent; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;">
<br />
<div style="color: black; font-family: arial; font-size: 14pt; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; text-align: justify; text-decoration-line: none; white-space: pre;">
<img height="179" src="https://lh6.googleusercontent.com/_EuKTFAvaMtzdZN7dcUpk4uuW43s5Dtf7aSmWnKuLZ5SM3skaNYzh0n6O7OM_jbXTU7UIEMZb_YifE6mbTvnQwT9OivJCNI6Yqchepx5fgnDKtoVxZqs95EN4xGUp1vGcXwtK0hE" style="border: none; font-size: 14pt; transform: rotate(0rad);" width="457" /></div>
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"></span><br />
<div style="text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><span style="font-size: 14pt;">我们可以看到FOOD & BEVERAGE的业务营业额收入在2012年就超越
原本锡罐制造的核心业务了,这代表管理成在2011年做了一个非常明智
的决定,把柔佛珍从传统锡罐制造公司来个华丽转身,转型至一家逐日
越壮越大的食品公司。</span></span></div>
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">
</span><span style="background-color: transparent; color: black; font-family: "arial"; vertical-align: baseline;"><div style="text-align: justify;">
<span style="font-size: 18.6667px; white-space: pre;"><br /></span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<span style="font-size: 14pt;">出口市场比例和制造成本</span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<img height="423" src="https://lh5.googleusercontent.com/nCFgPaEtePmgv4xHjCpR_VSxJYpsjoOO_2t-1jm9W8Qim4cXHC1lSncOdsdCpMJpx8wWpvYawie6gfKT1uILXrRqIsQGE6fchw_kjezFq1RWSHd_nxMt5W7v-TzkoDasAFz0JsrH" style="border: none; font-size: 14pt; transform: rotate(0rad);" width="624" /></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<span style="font-size: 14pt;">公司制造成本分别为100%的进口奶粉和50%进口的锡板原料,进口原料
占了整体的COST OF SALE 85%,反观出口销售只占72%所以疲软的马币
是会拉低公司的赚幅的。</span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; vertical-align: baseline;"><div style="text-align: justify;">
<span style="font-size: 18.6667px; white-space: pre;"><br /></span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<span style="font-size: 14pt;">未来展望</span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<img height="153" src="https://lh5.googleusercontent.com/qSmpzVOCTuiLQnOF3sdJYNjUyJJq9wt3Xkktonwl67FBnfamPFJWJcdZlATCrjgrL04IUkF2UrsMWCW8pu8sKIrJsKTTiZGLBHaCFL3sEm8ZPvE16MOmcWf6ufm7LmxMHLp4enCI" style="border: none; font-size: 14pt; transform: rotate(0rad);" width="115" /></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<span style="font-size: 14pt;">在2017年4月,柔佛珍收购Able乳制品墨西哥联营公司40%股权以在当
地展开炼乳业务,其余43%股权是两个现有客户持有以及17%股权是当地
生产商持有。 这墨西哥厂房原本预计今年2019三月启用但是由于雨季影
响所以正式营运延迟至2019年6月,墨西哥厂的年产能为7万8000公吨,
此厂房只要有40%产能使用率,即可达到盈亏均衡,一旦新厂房落成目前
现有客户将会立即利用20%的产能使用率。</span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; vertical-align: baseline;"><div style="text-align: justify;">
<span style="font-size: 18.6667px; white-space: pre;"><br /></span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<img height="351" src="https://lh6.googleusercontent.com/HZt_6O4wUbURjzNXkZA9QKQgcFcxoNrcd6X-l3utCWSc_jWOETYMmKlEOVs5QJteyS5-JRQZ1y82FGF5An_LluvAjUr_9cNpcYQdIt-xIpXoSatIyZVe7EoDSaOh3BXmPLInnPPM" style="border: none; font-size: 14pt; transform: rotate(0rad);" width="624" /></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<span style="font-size: 14pt;">虽然新的厂房会增加营运费用,但是墨西哥厂房是个策略性地点因为墨西哥
和美国拥有自由贸易协议,这将会把过往出口到美国的进口税和航运费用给
节省下来,所以这将会提升美国市场销售的赚幅。 </span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; vertical-align: baseline;"><div style="text-align: justify;">
<span style="font-size: 18.6667px; white-space: pre;"><br /></span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<span style="font-size: 14pt;">产能倍增</span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<span style="font-size: 14pt;">本地柔佛(Teluk Panglima Garang)目前年产能为6万公吨平且产能使用率
已经满载100%,所以目前正在进行着扩张新的3条生产线,这会提高30%的
产量至年产能为8万公吨平且预计在2019第二季完成;2019年6月公司也预
计启动墨西哥厂房,年产能为8万公吨等同于与马来西亚产能一样庞大,墨西
哥+马来西亚厂房使整体炼乳/淡奶业务的年产能达16万公吨。 当墨西哥新厂
房投入将会立即释放马来西亚厂房20%的产能使用率,由于炼乳和淡奶的需
求持续强劲所以释放出来的生产线将会可以接受新订单进一步提高营业额。</span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; vertical-align: baseline;"><div style="text-align: justify;">
<span style="font-size: 18.6667px; white-space: pre;"><br /></span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<span style="font-size: 14pt;">再包装零售奶粉赚幅更高</span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<img height="217" src="https://lh4.googleusercontent.com/0-az_lyGGOwPIowquP_FKP2UTC-YgUkm_gcEM_yJ5QG1DYvElJb-vGJSi1L__mSP3DUkONprhDriYEE_VClQ683_HwMdGiqTWvHbtjYiuC6A9-_4r3844wK_sLsNrKgeHUYUxH_1" style="border: none; font-size: 14pt; transform: rotate(0rad);" width="624" /></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<span style="font-family: "arial"; font-size: 14pt; vertical-align: baseline;">最新季度业绩2018Q3的整体净利润赚幅从原本的单位数提高至10%是归功
于再包装零售奶粉的赚幅高达6%-7%对比之前的批量包装的赚幅仅有1%而已,
目前再包装零售奶粉的年产能为6万公吨但产能使用率只有30%,未来公司会继
续专注赚幅更高的再包装零售奶粉,进一步提升公司的净利润。若再包装零售
奶粉产能使用率达到75%,营运盈利可能成长至5000万至5500万令吉,这可能
需3、4年时间,大众研究预期该公司旗下Able食品的贡献有望带动集团净利倍增
(2016年为3560万令吉)。</span><span style="font-family: "arial"; font-size: 14pt; vertical-align: baseline;"><img height="364" src="https://lh5.googleusercontent.com/b-0Bp4ctxE4E1MfpHE8OOGVFqp9xyftk8C4YmlooIAk30tSMou6eXm5j2yPRHJPjZKZEdgxuwueoKpTrmJFK3DMVSiE5qZLJPoY12zVvhROTC04IXFqCurXsQnK2JuedVbRRdqoq" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="516" /></span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; vertical-align: baseline;"><div style="text-align: justify;">
<span style="font-size: 18.6667px; white-space: pre;"><br /></span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<span style="font-size: 14pt;">柔佛珍在2017Q1由净负债公司转变为净现金公司</span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<img height="295" src="https://lh4.googleusercontent.com/QRCWI1I5OzwKk1BifDQ1-Rfht1luXjbUYtub4A_TWcUjscljd8Xf2dNu4leYHSGgcueQ4KPxk4GOZopr8PTtT75-Q5_-vOQkLGuLJKL7floVSHg3Wqw40d7X0oVonE6nQ7kVnSpd" style="border: none; font-size: 14pt; transform: rotate(0rad);" width="565" /></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<span style="font-size: 14pt;">股息每年稳定派发,股息PAYOUT RATIO在20%-45%之间</span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<img height="289" src="https://lh6.googleusercontent.com/qQu88WDfEbu9jcyDEQQHdGEl7YWqaYkdug4-Ml4an7LJJQ-nip9WmbGU6ubX5W-HTJTzwfsMBbRF5nWNcJhVC2_gLo19RPf-6WRY81p_6ZLpV-z085C7OGOifyHQ3_nohFKCzJRT" style="border: none; font-size: 14pt; transform: rotate(0rad);" width="531" /></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<span style="font-size: 14pt;">假设DPS 4 cent,那么RM 1.26的股价计算出Dividend Yield 高达3.17%</span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; vertical-align: baseline;"><div style="text-align: justify;">
<span style="font-size: 18.6667px; white-space: pre;"><br /></span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; vertical-align: baseline;"><div style="text-align: justify;">
<span style="font-size: 18.6667px; white-space: pre;"><br /></span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; vertical-align: baseline;"><div style="text-align: justify;">
<span style="font-size: 18.6667px; white-space: pre;"><br /></span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<span style="font-size: 14pt;">主要大股东一览</span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<span style="font-family: "arial"; font-size: 14pt; vertical-align: baseline;"><img height="540" src="https://lh4.googleusercontent.com/QZSRmD-B9ZyJYxeD4Qvoxc1DfI6BOTs2sV6qknI3WBW4o9hWomaKTjxTPL1aGX_fTM3g-GWRZyOr0JT0X-aM4xNDOWeFJmJNYmnABw_lEPnDTdOjTbHcokN1gr6FEJnyji2of3S3" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="178" /></span><span style="font-family: "arial"; font-size: 14pt; vertical-align: baseline;"><img height="540" src="https://lh4.googleusercontent.com/HEBcFVMOAf6s-nk9JHnjGQqWIvBDKRXgr7FVSm6rzdDRC0J4Y_Ilv-gBfBBSBFi17luyux8kCLhUg8j37rNlUrNCZc5YwVS9n8rqH2Xpv7I6Bex0EZ6QWRYZbcJCxWc4UhBTz-Dr" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="587" /></span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<img height="317" src="https://lh3.googleusercontent.com/ajPWbDY3euLzEdwi9npJNX-7xJmcNaBTCEa5uRp0d5A2NsuB6vANnqvvwXrBMPsEumjZtpBHrOVK-qnQIIhBb61EoYCEIBRB2xkN1S3DxZN65n65Io8eSNSl5TsedU6nF-Ps6Ayq" style="border: none; font-size: 14pt; transform: rotate(0rad);" width="607" /></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<span style="font-size: 14pt;">公司的管理层一共拥有37.65%的股权</span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; vertical-align: baseline;"><div style="text-align: justify;">
<span style="font-size: 18.6667px; white-space: pre;"><br /></span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; vertical-align: baseline;"><div style="text-align: justify;">
<span style="font-size: 18.6667px; white-space: pre;"><br /></span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<img height="395" src="https://lh5.googleusercontent.com/NckLjtkAXn-4W8sC2OfBwb8GIWEh-JVVlNYbVb9cceyMU9hEvzEfywIqfaGDVn1cjSWroDGoC56xZz6N8piVbYEYcWT89v1ixHoye3DPLGRnfMGlQn9qzGkTIYBW9KK5JER9OKvN" style="border: none; font-size: 14pt; transform: rotate(0rad);" width="624" /></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<span style="font-size: 14pt;">除了管理层之外,我们也可以发现冷眼投资大师前辈也出现在大股东名单里面,
冷眼投资大师前辈还在FY 2018期间加码3,400,000 units代表他也越来越看
好柔佛珍的发展前景。</span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; vertical-align: baseline;"><div style="text-align: justify;">
<span style="font-size: 18.6667px; white-space: pre;"><br /></span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<span style="font-size: 14pt;">转型消费股使估值跃升</span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<span style="font-size: 14pt;">柔佛珍将从原本传统锡罐制造商的估值跃升至更高的消费股估值</span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; vertical-align: baseline;"><div style="text-align: justify;">
<span style="font-size: 18.6667px; white-space: pre;"><br /></span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<img height="293" src="https://lh5.googleusercontent.com/RmEzfRGkY_2RZFw2luBX5ez2TtoTdTDX0ZaMmgp4qXcW0l3dRbtek9m8XOipEV7NHo0I1aw3a0WXkmNEHJrvfHRyVsIDo5b-LP5Cy6C8_7MIcKim4vXjytRUFUt6IFqQZ4t4bZV6" style="border: none; font-size: 14pt; transform: rotate(0rad);" width="201" /></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<span style="font-size: 14pt;">从上图我们可以看到柔佛珍原本的PE估值只有单位数至2017年首次突破
双位数以上。</span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; vertical-align: baseline;"><div style="text-align: justify;">
<span style="font-size: 18.6667px; white-space: pre;"><br /></span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; vertical-align: baseline;"><div style="text-align: justify;">
<span style="font-size: 18.6667px; white-space: pre;"><br /></span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<img height="219" src="https://lh5.googleusercontent.com/JmX7C3buhfs5qnu61kVY9qsFtas-daRMaOrjWjjWP4WG5ptC0R4crEg_uanS5nrOXdZZ91g_Q3NaCWpRDjXGNaZAxt1KvBRh4Cv-NiVJ7Iz5BM2G6veuOKpKC2-rBx_KrsbI1F4s" style="border: none; font-size: 14pt; transform: rotate(0rad);" width="530" /></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><div style="text-align: justify;">
<span style="font-size: 14pt;">根据HLB RESEARCH的资料,截止柔佛珍股价RM 1.12的FY 2018 PE估值
只有10.6倍,对比中小型消费股同行的FY 2018 PE估值平均是17.3倍,假设
柔佛珍FY 2018的PE估值也去到17.3倍,那么合理价应当是RM1.82。</span></div>
</span><span style="background-color: transparent; color: black; font-family: "arial"; vertical-align: baseline;"><div style="text-align: justify;">
<span style="font-size: 18.6667px; white-space: pre;"><br /></span></div>
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<span style="font-size: 18.6667px; white-space: pre;"><br /></span></div>
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<span style="font-size: 36pt;">总结:</span></div>
</span></div>
</li>
</ul>
<div style="text-align: justify;">
<span id="docs-internal-guid-2aab96ac-7fff-5965-c303-05f2549c876f"><br /></span>
</div>
<ul style="margin-bottom: 0pt; margin-top: 0pt;">
<li dir="ltr" style="background-color: transparent; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline;"><div dir="ltr" style="color: black; font-family: arial; font-size: 14pt; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; line-height: 1.38; margin-bottom: 16pt; margin-top: 0pt; text-decoration-line: none; white-space: pre;">
<div style="text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 13.999999999999998pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">炼乳,淡奶和奶粉等产品都属于必需品,所以柔佛珍拥有抗周期性生意。</span></div>
</div>
<div style="text-align: justify;">
<span style="font-family: "arial"; font-size: 18.6667px; white-space: pre;"><br /></span></div>
</li>
<li dir="ltr" style="background-color: transparent; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline;"><div dir="ltr" style="color: black; font-family: arial; font-size: 14pt; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt; text-decoration-line: none; white-space: pre;">
<div style="text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 13.999999999999998pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">柔佛珍的墨西哥新厂房预计将在今年6月启用,产能将于马来西亚一样规模,将享有自由贸易协议的优势出口至美国市场。</span></div>
</div>
<div style="text-align: justify;">
<span style="font-family: "arial"; font-size: 18.6667px; white-space: pre;"><br /></span></div>
</li>
<li dir="ltr" style="background-color: transparent; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline;"><div dir="ltr" style="color: black; font-family: arial; font-size: 14pt; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt; text-decoration-line: none; white-space: pre;">
<div style="text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 13.999999999999998pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">公司将专注于再包装零售奶粉业务使整体净利润赚幅更上一层楼。</span></div>
</div>
<div style="text-align: justify;">
<span style="font-family: "arial"; font-size: 18.6667px; white-space: pre;"><br /></span></div>
</li>
<li dir="ltr" style="background-color: transparent; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline;"><div dir="ltr" style="color: black; font-family: arial; font-size: 14pt; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt; text-decoration-line: none; white-space: pre;">
<div style="text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 13.999999999999998pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">柔佛珍将从原本传统锡罐制造商的估值跃升至更高的消费股估值</span></div>
</div>
<div style="text-align: justify;">
<span style="font-family: "arial"; font-size: 18.6667px; white-space: pre;"><br /></span></div>
</li>
<li dir="ltr" style="background-color: transparent; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline;"><div dir="ltr" style="color: black; font-family: arial; font-size: 14pt; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt; text-decoration-line: none; white-space: pre;">
<div style="text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 13.999999999999998pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">冷眼前辈持续加码,他也越来越看好柔佛珍的发展前景。</span></div>
</div>
<div style="text-align: justify;">
<span style="font-family: "arial"; font-size: 18.6667px; white-space: pre;"><br /></span></div>
</li>
<li dir="ltr" style="background-color: transparent; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline;"><div dir="ltr" style="color: black; font-family: arial; font-size: 14pt; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt; text-decoration-line: none; white-space: pre;">
<div style="text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 13.999999999999998pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">由于炼乳和淡奶的需求持续强劲,马来西亚厂房的产能提升将可以接受新订单进一步提高营业额。</span></div>
</div>
<div style="text-align: justify;">
<span style="font-family: "arial"; font-size: 18.6667px; white-space: pre;"><br /></span></div>
</li>
<li dir="ltr" style="background-color: transparent; font-variant-east-asian: normal; font-variant-numeric: normal; list-style-type: disc; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;">
<br />
<div style="text-align: justify;">
<span style="font-family: "arial"; font-size: 14pt; white-space: pre-wrap;">公司每年稳定派发股息,目前股价RM 1.26那么Dividend Yield 高达3.17%。</span></div>
<span style="background-color: transparent; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline;"></span><br />
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<span style="background-color: transparent; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline;"><span style="font-family: "arial"; font-size: 18.6667px; white-space: pre-wrap;"><br /></span></span></div>
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<span style="color: black; font-family: "arial";"><div style="text-align: justify;">
<span style="font-size: 18.6667px; white-space: pre-wrap;"><br /></span></div>
<div style="font-size: 18.6667px; font-style: normal; font-weight: 400; text-align: justify; white-space: pre-wrap;">
<span style="font-size: 18.6667px;">编写日期2019年2月15日 BY Lifevest 周伯通 / THAM CHIN FATT </span></div>
<div style="font-size: 18.6667px; font-style: normal; font-weight: 400; text-align: justify; white-space: pre-wrap;">
<span style="font-size: 14pt;">LIFEVEST 每个月份都有内部学员聚会和大家分享优质股和投资机会,有兴趣的读者们可以在以下链接报名,以便收到最新聚会详情。</span></div>
</span><div style="text-align: justify;">
<span style="vertical-align: baseline;"> </span>报名链接- <a href="https://goo.gl/forms/kSvRr0Y2p5yNNDdq1">https://goo.gl/forms/kSvRr0Y2p5yNNDdq1</a></div>
</span></div>
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</ul>
Simple Investinghttp://www.blogger.com/profile/07534303062433189556noreply@blogger.com2tag:blogger.com,1999:blog-5636583082398679377.post-81451132918595948502018-07-26T00:42:00.000-07:002018-07-26T08:30:38.816-07:00Facebook 2018Q2点评 by Lifevest周伯通/Tham chin Fatt<div class="MsoNormal">
<span id="docs-internal-guid-bd57ac76-d586-953a-52bd-3ec3abe32d72"></span></div>
<div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap; white-space: pre;"><img height="555" src="https://lh3.googleusercontent.com/6bZ_Imvxa9wVwmRSg8HfGyyV-Po8ui6RAKpXcDPc2wRKsY6xchQGrdYvW3doWqQJzUaJHlUx-IQ3vqKfmVZe4pKH8a7v-wOHDa506c2Hi0S_xJ1S7HK8VA4EFqOszIeaT20zCRRB" style="border: none; transform: rotate(0rad);" width="624" />
</span><span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap; white-space: pre;"><span id="docs-internal-guid-a682f7d1-d589-2850-3f28-0ea6b4f0c66d"><span style="font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline;"></span></span>
<img height="732" src="https://lh3.googleusercontent.com/JVgdobL73yrF4T733xkVEboTsNJKu2dTGLNs27CuuEd3TKpTn9pbWidAHV5gccLFEsN2TRzbJqr10lD3XwWD1XlL6Mi3hepElAv_BWPXb1fV7n4hzym95ulpoFAhdts9yRz-gC6a" style="border: none; transform: rotate(0rad);" width="624" />
</span><span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap; white-space: pre;">
<img height="664" src="https://lh5.googleusercontent.com/6aGjxwtSH7vIFX-9I9If9Ix3GH1D7ZfjY9fnt1__d3g2GZ_w1RBuw9n5bqvXbHuuWqmqrtXYFCsJd2xHguiWUcqiy3MK09MLytl61eB9acR4GqLBmTw7mbLglosT_JV18N8o2uOc" style="border: none; transform: rotate(0rad);" width="624" />
</span><span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap; white-space: pre;"><img height="517" src="https://lh5.googleusercontent.com/sEIT-dXeQJTblJX6qXjWEwkPDEIGr6Nhct6EtaPYYku3sv-Zsbgf_Etx-2XUI4HMzx0Rmz-IEPo5QomJXqY23B_DXVm2UTgtOWI2PuzYwyZ4VW5FK16TEp5T5BxYHVi5y3kKfMOa" style="border: none; transform: rotate(0rad);" width="624" /></span></div>
<span id="docs-internal-guid-c5b76a9a-d567-e35d-7e86-028f01f3ff75"><span style="font-family: "calibri"; font-size: 11pt; vertical-align: baseline; white-space: pre-wrap;"></span></span>Simple Investinghttp://www.blogger.com/profile/07534303062433189556noreply@blogger.com0tag:blogger.com,1999:blog-5636583082398679377.post-77501130313710118342018-06-22T01:30:00.004-07:002018-06-22T01:43:24.697-07:00何谓价值投资? by 周伯通 / tham chin fatt<div style="background-color: white; color: #1d2129; font-family: Helvetica, Arial, sans-serif; font-size: 14px; margin-bottom: 6px;">
何谓价值投资? by 周伯通 / <a class="profileLink" data-hovercard-prefer-more-content-show="1" data-hovercard="/ajax/hovercard/user.php?id=1029346125&extragetparams=%7B%22fref%22%3A%22mentions%22%7D" href="https://www.facebook.com/chinfatt.tham?fref=mentions" style="color: #365899; cursor: pointer; font-family: inherit; text-decoration-line: none;">tham chin fatt</a></div>
<div style="background-color: white; color: #1d2129; font-family: Helvetica, Arial, sans-serif; font-size: 14px; margin-bottom: 6px; margin-top: 6px;">
价值投资就是计算出内在价值并且在价格错误定价是趁低于内在价值买入享有MARGIN OF SAFETY,也是股价越跌就越值得买入,然而巴菲特在后期加入了"企业护城河"元素于价值投资,只要企业护城河越来越宽那么这家公司将会为我们实现复利报酬,如果护城河没有消失那么持股期限就是永远(巴菲特以前投资的可口可乐至今就是很好的例子)</div>
<div style="background-color: white; color: #1d2129; font-family: Helvetica, Arial, sans-serif; font-size: 14px; margin-bottom: 6px; margin-top: 6px;">
今年四月份,我们看到价值投资的好时机浮现了,就是Facebook(fb),传出涉嫌洩露5000万用户资料的丑闻,股价累计大跌18%市值蒸发接近1000亿美元,并触发全球科网股调整。当时我们就在LIFEVEST 4月8日的每月聚会和会员利用一个小时的时间深入探讨FACEBOOK这家企业的护城河和生意模式,并且呼吁大家把握这个机会买入FACEBOOK进行长期投资,当时FACEBOOK 在4月9日的股价是157美金,截至昨日收在201.5美金,短短两个月的时间内实现了28%的涨幅。<br />
<img alt="Image may contain: screen" height="499" src="https://scontent.fkul2-1.fna.fbcdn.net/v/t1.0-9/35943765_479797525774676_2689370085369315328_n.png?_nc_cat=0&oh=e029bbf6ea2e9a9ccca47ec2d55837d4&oe=5B9FF3E3" width="640" /></div>
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<div style="font-family: inherit; margin-bottom: 6px;">
<span style="font-family: Helvetica, Arial, sans-serif;">图里附上当时其中一个四月份买入FACEBOOK的成绩单,450 unit@ 160 USD ,账面盈利 RM 74,000。</span><br />
<img alt="Image may contain: text" src="https://scontent.fkul2-1.fna.fbcdn.net/v/t1.0-9/35882135_479805345773894_7719557669874302976_n.png?_nc_cat=0&_nc_eui2=AeGuulPn05iF9xN1LBas69rUWXJ2_yE_MELHwaPm4vbNqbkyk-p2fUhrzKAXu9XjP-ks6mefwOLpEe7QVaEQzFWP4JL6VCG5tpUu1FOCxK7Qbw&oh=cc9261d424b4f3e16497cdd237654e97&oe=5BB98D51" /></div>
<div style="font-family: inherit; margin-bottom: 6px; margin-top: 6px;">
LIFEVEST每个月中都有每月聚会来努力宣扬价值投资(欢迎大家来出席),<br />
<span style="font-family: "helvetica" , "arial" , sans-serif;">价值投资选对拥有护城河的股票,简化投资的本质,轻松地实现财务自由不是梦,大家共勉之。</span></div>
</div>
Simple Investinghttp://www.blogger.com/profile/07534303062433189556noreply@blogger.com2tag:blogger.com,1999:blog-5636583082398679377.post-42398090361924934752018-03-05T21:55:00.000-08:002018-03-05T21:55:44.248-08:00LIFEVEST 大环境的业绩点评<div class="MsoNormal">
<b><u><span style="font-size: 18.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">LIFEVEST 大环境的</span></u></b><b><u><span lang="ZH-CN" style="font-family: "simsun"; font-size: 18.0pt; line-height: 115%;">业绩点评</span></u></b><b><u><span style="font-size: 18.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;"><o:p></o:p></span></u></b></div>
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<b><u><span lang="ZH-CN" style="font-family: "simsun"; font-size: 18.0pt; line-height: 115%;"><br /></span></u></b></div>
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<span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">如果大家仔细观察,我们可以看到大多数公司的</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;">2017 Q4</span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">业绩实在差强人意,把这个马股的情绪拉低了不少。</span><span style="font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;"><br />
<br />
</span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">首先我们来谈谈被美金影响的出口股的业绩表现,其走势与美金一致,处于下跌趋势。所以家私行业,和特定半导体等将被大大影响。当然有弊必有利,一些公司也从强势马币而取得比较好的成绩也有,大多数都是关于以美金购买原料上的公司。</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">半导体产业依然是我们</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;">LIFEVEST</span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">看好的行业,这是因为这个行业不止被电话的集成电路体而成长,还有来自物联网,车联网,</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;">AR/VR, </span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">记忆体,感应器等带动,这将是前所未有的超级大浪波!加上中国努力推动中国制造2025,最大重心就是半导体,所以马来西亚的ATE 公司都纷纷进攻中国这个地区。但是再大的浪也会退潮,再中国的踊跃投入之下,相信此行业还是会像之前其他行业被供过于求影响,但是时日方长,还需要时间来达到。所以我们也必须时时警惕。</span><span style="font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;"><br />
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</span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">当然谈到美金,一定要谈到手套股。大多数手套股的股价已经反映利好,大家都纷纷因为产能扩充及中国环境保护而关闭不合格的厂房而需求搬移至马来西亚。怎样说都好,身为马来西亚公民的我们必须买入一只手套股,因为这是我们独有的优势,强大的护城河!但是不建议在此时追高买进。</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">如果大家检测回手套股的走势,他们总是经历</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;">1-2</span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">年的低潮后,突然崛起,这就是我们说的生意周期,不可能每天好生意及好环境。但是长期来说肯定是正面的。接下来手套公司将会面对外劳薪金上涨和天然气价格成本上升的挑战,手套公司必须确保他们是否有能力转嫁成本给予客户,所以要选好一些有特定优势及比其竞争对手有多一点功能的公司。</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;"><br />
<br />
</span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">随着国家银行升息,最大的赢家就是银行股,所以大家都可以看到银行股都纷纷向上跑。但是银行是一个非常难计算而且捉摸的行业,对我来说银行最重要的还是便捷性,还有幕后的老板也非常重要</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;">(</span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">比如:</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;">PUBLIC BANK & </span><span style="background-color: white; font-family: "tahoma" , sans-serif; font-size: 13.3333px;">HONG LEONG BANK</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;">)</span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">所以选粘性最高的银行很重要。但是MFRS9的拔被还没有反映在公司的财报里,所以大家要多加小心。</span></div>
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<span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;"><br /></span></div>
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<span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">反之,产业股将会受高利率影响,加上银行批贷款率也一直不好,银行变得非常谨慎也在所难免。</span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">如果看产业股,个人会看好一些比较有大主题性的房产项目,比如</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;">I BERHAD </span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">的</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;">I CITY</span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">,未来将建设</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;">SHAH
ALAM </span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">最大的广场而且油泰国最出名的</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;">shopping mall operator “Central Pattana Public Co
Ltd (CPN)”</span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">管理</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;">,
SUNSURIA </span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">的</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;">
SUNSURIA CITY </span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">因中国厦门大学及</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;">High Speed Rail 的</span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">带动,</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;">YONGTAI</span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">因为马六甲印象而被带动类似的产业股,需要时间发酵的</span><span style="background-color: white; font-family: "tahoma" , sans-serif; font-size: 13.3333px;">TAMBUN 等待batu kawan 的工业区及商业中心开始成熟。</span></div>
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<span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;"><br /></span></div>
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<span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">粽油股还在等待良机。虽然欧盟那边出现了问题,但是产量因气候问题消散后将复苏,而且中国将重新买单,是值得探讨的领域,所以还必须观察。有趣的是最近我们可以看到许多</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;"><span style="font-family: "simsun";">粽油公司都在积极并购其他公司的</span><span style="font-family: "simsun";">粽油地,是危还是机,值得深思。</span><br />
<br />
</span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">一些</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;">Contract
Manufacturers</span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">比如</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;">GESHEN,
VS, SKPRES</span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">也因为美金下跌,成本提到导致他们的业绩大大影响,相信未来需要时间来转嫁成本。塑料行业因为成本上升而让人大跌眼镜,尤其是</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;">TGUAN</span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">和</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;">TOMYPAK</span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">,业绩跌得真的让人不敢相信。</span></div>
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<span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;"><br /></span></div>
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<span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">油气行业的梦也被打破了,油价停止上升趋势开始转弱。但是我相信未来还是会往上走,因为大家根据历史来看,大市在风暴前的现象就是所有大宗商品都要炒上到高位,历史不断重演,因为人类的本性是一样的,贪字当头。</span></div>
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<span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;"><br /></span></div>
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<span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">建筑公司一样必须仰赖基建订单才能跑,所以一样没看头,许多</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;">project</span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">都被延迟了。加上员工成本和原料成本上涨,所以没有什么看头。但是那些和政府有非常紧密的公司相信还是一样会很强,当然再多的订单,也要看公司执行力,执行力差,公司还是会交出让人大跌眼镜的业绩吓吓散户。</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;"><br />
<!--[endif]--><o:p></o:p></span></div>
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<span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;"><br /></span></div>
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<span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">还有就是涉及到</span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">纸盒的公司,最近业绩大好,有赖于中国的蓝天计划及电子商务的趋势。马来西亚一些设计纸盒的</span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">公司,估值便宜,但是输在没有护城河</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;">,</span><span style="background: white; font-size: 10pt; line-height: 115%;"><span style="font-family: "simsun";">所以大家可以观察观察。</span></span></div>
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</span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">汽车行业,大家最近非常留意我国国产宝腾(</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;">PROTON</span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">)</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;">, </span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">大家都很相信公司的</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;">TURNAROUND STORY, </span><span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">但是当大家仔细研究,你将发现这家公司再努力也好,近几年还是必须把赚到的钱先给银行,因为他们的债务无底洞太大了。所以我选择不去看。但是大家一定要了解李书福这个传奇人物,可以说是一名令人敬畏的企业家。值得观察他的每一步棋。</span></div>
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<span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">在通膨严重的环境下,大家可以留意消费股和制药公司,因为经济再差,你饿了还是得吃,口渴还是得喝,生病了还是得看病,所以选择高股息的这类型公司可以提升防御及减轻风险。</span></div>
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<span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">接下来几个月还是会环绕在大选主题,但是身为价值投资者我们还是尽量避免现今不稳定的情势下把所有资金都投入市场。</span><span style="background: white; font-family: "tahoma" , sans-serif; font-size: 10pt; line-height: 115%;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">总的来说今年有许多公司出现业绩炸弹。生意难做这句话非常适合用在马来西亚的市场。如果大家仔细观察,其实马股现在已经偏贵了很多。反而我们的领国新加坡公司有比较多机会,因为估值相对便宜而且还有成长空间。只要大家专注在寻找便宜+成长+生意有独特之处的公司上,相信大家还是可以在股市看到很多机会的,大家一起加油!</span></div>
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<span lang="ZH-CN" style="background: white; font-family: "simsun"; font-size: 10pt; line-height: 115%;">这里打个小广告:我们 </span><span style="background-color: white; font-family: "tahoma" , sans-serif , "arial" , "helvetica"; font-size: 13px; white-space: pre-wrap;">Lifevest 将在来临的</span><span style="background-color: white; font-family: "tahoma" , sans-serif , "arial" , "helvetica"; font-size: 13px; white-space: pre-wrap;">星期日,也就是</span><span style="background-color: white; font-family: "tahoma" , sans-serif , "arial" , "helvetica"; font-size: 13px; white-space: pre-wrap;">3月</span><span style="background-color: white; font-family: "tahoma" , sans-serif , "arial" , "helvetica"; font-size: 13px; white-space: pre-wrap;">11日,有个内部会员的monthly meeting。如果你对价值投资感到兴趣,又想了解外国的公司,可以来学习学习。</span></div>
<div style="background-color: white; color: #1d2129; font-family: Helvetica, Arial, sans-serif; font-size: 15px; margin-bottom: 6px; margin-top: 6px;">
<br />
费用:RM80/人, RM70/双人以上<br />
时期:11-3-2018(星期日)<br />
时间:下午 2.00 – 5.00pm<br />
地点:KOTA DAMANSARA-SUNWAY GIZA附近走路可到<br />
WAZE SEARCH : 12A-3, Jalan PJU 5/17, Dataran sunway, Kota damansara, 47810 PJ,Selangor.</div>
<div style="background-color: white; color: #1d2129; font-family: Helvetica, Arial, sans-serif; font-size: 15px; margin-bottom: 6px; margin-top: 6px;">
有兴趣的朋友可透过以下Google链接报名谢谢<br />
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lifevesthttp://www.blogger.com/profile/12505975210946867676noreply@blogger.com0tag:blogger.com,1999:blog-5636583082398679377.post-6542838418060181132017-11-07T20:32:00.002-08:002017-11-07T22:57:44.379-08:00AEMULUS站在巨人的肩膀与风口 by周伯通<div dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: black; font-family: "arial"; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">AEMULUS站在巨人的肩膀与风口</span></div>
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<span style="color: black; font-family: "arial"; vertical-align: baseline; white-space: pre-wrap;">2017年11月2日(上周四),</span><span style="background-color: white; color: black; font-family: "arial"; vertical-align: baseline; white-space: pre-wrap;">美國通訊晶片生產商博通(Broadcom)CEO Hock Tan</span><span style="color: black; font-family: "arial"; vertical-align: baseline; white-space: pre-wrap;">在白宫椭圆形的总统办公室里登上了领奖台——他决定把市值逾千亿美元的博通公司注册地从新加坡迁往美国,由此受到总统特朗普的嘉奖。 按照特朗普的说法,博通此举将使得200多亿美元回流美国.</span><span style="color: black; font-family: "arial"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="color: black; font-family: "arial"; vertical-align: baseline; white-space: pre-wrap;"><img height="351" src="https://lh6.googleusercontent.com/NMR_NyjIKpyTMO-nrO7zAXreOhmJ3gHwaTfOspQkFSD_4TSRXb6VqJBoXSyqJLAfbNk_-W9QSWCZZENxAiIYjeYHsywszkLyeGI4OKQaJZlm3FmkNVB2Lkptxhr2f0hSH6nKNLsm" style="border: none; transform: rotate(0rad);" width="624" /></span><span style="color: black; font-family: "arial"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; vertical-align: baseline; white-space: pre-wrap;">根據國外財經網站資料,Hock Tan 出生於馬來西亞,除了擁有美國麻省理工學院(MIT)理工碩士學位,還少見的擁有哈佛企管碩士學位。這樣的學歷,使 Hock Tan 不但能在半導體產品研發一展長才,還具財務管理見長的背景,這在以工程師背景為主的矽谷半導體公司來說並不多見。</span></div>
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<span style="background-color: white; color: black; font-family: "arial"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; vertical-align: baseline; white-space: pre-wrap;">Hock Tan 曾任職通用汽車和百事公司財務部門,直到 1992 年才轉職到個人電腦製造商 Commodore,開始進入科技產業領域。後來,他進一步到晶片製造商 Integrated Circuit Systems(ICS)擔任財務長,最後升任執行長,從此開始一連串購併動作。</span></div>
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<span style="background-color: white; color: black; font-family: "arial"; vertical-align: baseline; white-space: pre-wrap;">事實上,因為 Hock Tan 曾擔任財務長的背景,加上談判技巧高明,使他與華爾街金融圈關係良好。這次天價購併高通,Hock Tan 表示華爾街金融圈都表示支持,並願意提供融資。</span></div>
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<span style="background-color: white; color: black; font-family: "arial"; vertical-align: baseline; white-space: pre-wrap;">過去 Hock Tan 購併常以蛇吞象的姿態勝出。例如,將安華高(Avago)打造成一家中型晶片製造商後,2015 年以 370 億美元鉅資購併博通(Broadcom),再沿用博通之名,組成全球第三大晶片製造商──新博通。</span><span style="color: black; font-family: "arial"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="color: black; font-family: "arial"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; vertical-align: baseline; white-space: pre-wrap;">美國通訊晶片生產商博通(Broadcom)準備出價 1,300 億美元購併行動晶片龍頭高通(Qualcomm)震撼業界,如果这笔交易最终成功,则意味着Hock Tan在半导体行业并购之路上登上了新的顶峰。 博通与高通在业界的定位并不相同,前者是全球最大的WiFi芯片厂商,后者则是手机芯片霸主。两者相同的地方是,全世界绝大多数智能手机都要向他们缴纳芯片费用。</span><span style="background-color: white; color: black; font-family: "arial"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; vertical-align: baseline; white-space: pre-wrap;"><img height="164" src="https://lh6.googleusercontent.com/k1Gd5ZIpy9yGn0vWzPulgjlyxtTpULIvhuCHIZaqpkhdhZnxkRV9L_33Ge8wctxmCMiWhiC0zZkW1TK4dZ278pwwJePgexTiNvNMblWWimWjlJCrpOWYErC3YCrnvNjs4FuM-mjp" style="border: none; transform: rotate(0rad);" width="200" /></span><span style="background-color: white; color: black; font-family: "arial"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; vertical-align: baseline; white-space: pre-wrap;">AEMULUS</span><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;">是东南亚唯一一家专注于</span><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;"> radio frequency(Rf)</span><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;">设计与开发ATE的公司。</span><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></div>
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<span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;">radio frequency就是无限射频,只要无线连接与无线电子产品在未来越来越普及化,那么RF市场的潜能就越来越巨大。</span></div>
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<span style="background-color: white; color: black; font-family: "arial"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; vertical-align: baseline; white-space: pre-wrap;">根据IPO文告,AEMULUS</span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;">公司FY2014的营业额有47.86%(而不参考FPE 2015因为不是整年数据)是由BROADCOM单一客户所贡献的。</span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><img height="296" src="https://lh3.googleusercontent.com/2LYmccSNNzwbkVLRZiBNA0Ig1EjQ0Zq3xr3cIHtULLeTjDtrfW0f1TB4B_231s8JX1UfumcrX43VnbjPrdORQhS6C5EDlrj0FdevGxzXMdqMknOAHvY6wgoaZakLtsMSAfAyHeBc" style="border: none; transform: rotate(0rad);" width="624" /></span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><img alt="Image result for broadcom avago" height="216" src="https://lh3.googleusercontent.com/mzWPYr_v2bVgVzFTWCmpjDdUDow5SZpgzMT8q9U9l_qW18VczUe1yu7C3UaYeo7oJzxxRxydRAD7PFvurimRvRc4zVIk3nf9FbJaRl6ZP0IuR2kKTcuv9Ui_GVbs82cV8e1abZMW" style="border: none; transform: rotate(0rad);" width="367" /></span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"> </span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></div>
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<span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;">好消息是就在2015年5月,AVAGO宣布以370亿美金收购半导体巨头博通。 此前一年,AVAGO的营收为42.6亿美元,远不及博通的84.3亿美元,市值还不到博通的一半,连收购金额都比自己的市值要高。不过,博通当时正深陷连年业绩增长停滞的囧境。 这次收购堪称教科书级别,</span><span style="background-color: white; font-family: "roboto"; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;"><span style="color: red;">创下了世纪之交互联网泡沫时期之后全球半导体行业并购规模之最。自此,安华高由一个中型企业摇身变成了全球芯片巨头,股价也在短短两年间上涨了足足四倍之多。</span></span><span style="background-color: white; color: black; font-family: "roboto"; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></div>
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<span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><b>小故事</b></span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;">AEMULUS和AVAGO(BROADCOM的新主人)的关系密切</span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;">AEMULUS两大主打ATE分别为AMOEBA 7600和4600</span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><img height="368" src="https://lh5.googleusercontent.com/T-SMTzC_NAn8AOuhHJnHLQ24-cBqxjCflTNjV3rgbfUV15UiXtB4iEqtShEg7MMYhQkN4iWCPypOqG4VQmSWTBDBaWQPHopxho1Pf0GOI6juyYDWZaD_yc4rJ4lO5S7F2cfP6WKl" style="border: none; transform: rotate(0rad);" width="624" /></span><span style="background-color: white; color: black; font-family: "arial"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; vertical-align: baseline; white-space: pre-wrap;">以上图表AMOEBA 4600 是专用来TEST Enterprise Storage 企业级储存设备,而这个ATE是由</span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;">AEMULUS和AVAGO共同研发而成的,</span><span style="background-color: white; color: black; font-family: "arial"; vertical-align: baseline; white-space: pre-wrap;">AMOEBA 4600 可说是</span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;">专为AVAGO量身定制的,当这</span><span style="background-color: white; color: black; font-family: "arial"; vertical-align: baseline; white-space: pre-wrap;">AMOEBA 4600</span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;">推出时国际同行的竞争对手龙头(Teradyne INC)对此ATE技术极为惊叹。</span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><img height="193" src="https://lh4.googleusercontent.com/SyPN7mUKC6cPK6UPGe9uXTgd7wdI9LPbXH1a9VsM7Nl6D4fbqf_0vmFQulqZ1VDKzLjuDx2IK8XhTrSIh175Uh9LoeXWuiDftiPLHsOmjmA75tM-tGe-_0gKOshwitmLLnKMOUd1" style="border: none; transform: rotate(0rad);" width="624" /></span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><b>后市发展</b></span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><img height="352" src="https://lh4.googleusercontent.com/Z-WFVqNaZUyC1hYtKW9P2I1ihcAE0RPhu5gRufcByz3nKMTJIWuK8-4wh1qlChHsadp26NJeuXMUWSQwwqGlZu7tMX4wLWYBoA1qCEUIqryY4AnpwdqgYwG2Yk4zNkG_l5_Q0pSZ" style="border: none; transform: rotate(0rad);" width="388" /></span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;">自从2015年中之后,AEMULUS主要的客户AVAGO成为现在的新博通,相信AEMULUS未来发展能够大大受惠于BROADCOM新博通的崛起。</span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "roboto"; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">半导体行业未来展望</span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><img height="380" src="https://lh6.googleusercontent.com/HAcLDdVAZg0Ly7NssdxobHljwE2n2GNbDAvOa31nfG5LhqAJwqFB6wS78HS8g8ZRghngl1-l_HkWlB2kaQhnUCPIG7VcYIrJBvOZ-OOf9nv85ipaKAApfDUnm4ZtqBlCoIDEYvkB" style="border: none; transform: rotate(0rad);" width="624" /></span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;">根据国际统计,半导体未来主要的增长来源是5G,物联网,工业4.0,云计算,无人驾驶。</span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "roboto"; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">AEMULUS的</span><span style="background-color: white; color: black; font-family: "verdana"; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">radio frequency ATE未来市场催化剂来自于以下:</span><span style="background-color: white; color: black; font-family: "verdana"; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;"><b>-无线充电</b></span><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;">Iphone8带动无线充电产业高飞</span><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;">无线充电曾被三星在内的手机厂商视为超越苹果的一大卖点,然而看起来目前无线充电功能并非刚需和标配。虽然看上去无线充电市场进展缓慢,但实际上经过这几年的发展,无线充电正处于一个高速发展的阶段。有业内人士预计,到2017年底,全球一半以上的智能手机将配备无线充电功能,无线充电成为行业的标配会在2020年。根据调研机构IHS的预计,2016年已经有超过25款智能手机、20款智能手表、200种充电板、150种智能手机壳和50款车型实现了无线充电功能。所以笔者认为,现阶段无线电源技术已经跨越初期应用技术鸿沟,预计在不久的将来普及率会继续增长。</span></div>
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<span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;">人手一支手機 無線充電大商機 2016-06-17</span><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><a href="http://www.nexttv.com.tw/news/realtime/international/11589640" style="text-decoration-line: none;"><span style="color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;">http://www.nexttv.com.tw/news/realtime/international/11589640</span><span style="color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></a><span style="color: black; font-family: "arial"; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Aemulus AMB7600 Selected by Energous Corporation to Test Its WattUp Wireless Charging Technology</span></div>
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<span style="color: black; font-family: "roboto"; vertical-align: baseline; white-space: pre-wrap;">https://www.prnewswire.com/news-releases/aemulus-amb7600-selected-by-energous-corporation-to-test-its-wattup-wireless-charging-technology-300406873.html</span></div>
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<span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;"><b>-5G-物联网-工业4.0</b>
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<a href="https://www.youtube.com/watch?v=21KBkXh3dg0&t=20s" style="text-decoration-line: none;"><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;">https://www.youtube.com/watch?v=21KBkXh3dg0&t=20s</span><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></a><span style="background-color: white; color: black; font-family: "helvetica neue"; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;"><img height="455" src="https://lh4.googleusercontent.com/Bk8sMmokhypa-WSKojAc5sqJcqrV9BSY-9WeOonirNTklAf89ZYmHrnJ2L6ji6jf16c3_n0V-jzj4soWR-5bojWp9G6TWU5uIieObBGymwoKkmB71zUQ2Jn4SOtqeJffFemVKYkN" style="border: none; transform: rotate(0rad);" width="624" /></span><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;">http://www.digitimes.com.tw/iot/article.asp?cat=130&id=0000511945_qhwlk0ss3q5hky6xzjpxi&fref=gc&dti=479743932367699</span><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "helvetica neue"; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;"><img height="796" src="https://lh5.googleusercontent.com/wlYxPeYskMilVzLyK-ANxhb0cbJLdTo4ePcheFgKu4FYLrLlP7GtAWv6H0RS3w0b1Xof6iB8KLyICGypgSWBW4IS-fcAHdH5DFLte2dnEd9iNLQBvtfL6-8p62MtmFAylIzYoBRD" style="border: none; transform: rotate(0rad);" width="624" /></span><span style="background-color: white; color: black; font-family: "helvetica neue"; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "helvetica neue"; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;"><img height="465" src="https://lh4.googleusercontent.com/SAFH8UX4LvqzxjA-ujr5JfZ6XufTZGliHKZkKj8gKlv5qWvo5f8bM6J_S54oUl_0h9o1_XPHZR6NNYr7Oi3g4T89QZrSRWT5fxABkEiB72tZ9YBeeL1ngXvcDhJ8h9w-xeX127l0" style="border: none; transform: rotate(0rad);" width="624" /></span><span style="background-color: white; color: black; font-family: "helvetica neue"; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "helvetica neue"; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "helvetica neue"; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">OSAT和無晶圓廠選定AMB7600-S為首選射頻平台</span></div>
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<a href="http://www.digitimes.com.tw/tech/dt/n/shwnws.asp?cnlid=&cat1=&cat2=&id=0000514716_XVN8ZMUW027VNE7MHI2BN#ixzz4xoJTmOYI" style="text-decoration-line: none;"><span style="background-color: white; color: black; font-family: "helvetica neue"; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">http://www.digitimes.com.tw/tech/dt/n/shwnws.asp?cnlid=&cat1=&cat2=&id=0000514716_XVN8ZMUW027VNE7MHI2BN#ixzz4xoJTmOYI</span><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></a><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;"><b>-无人驾驶</b></span><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Aemulus and Peregrine Semiconductor Collaborate to Advance High Frequency Testing</span></div>
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<a href="https://www.prnewswire.com/news-releases/aemulus-and-peregrine-semiconductor-collaborate-to-advance-high-frequency-testing-300316735.html" style="text-decoration-line: none;"><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;">https://www.prnewswire.com/news-releases/aemulus-and-peregrine-semiconductor-collaborate-to-advance-high-frequency-testing-300316735.html</span><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></a><span style="background-color: white; color: black; font-family: "verdana"; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">AEMULUS老板未来的大计划</span><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;"><img height="832" src="https://lh6.googleusercontent.com/EaA5REgRTRSi2fUeUyCEyx3o2Bc6uI7YTS-C7_2AoWoHzDCqBXt0SAtudHwbKAD49OJ_GIHxai7Azly8Ui3O7vQ53MmJEEY_NfXKMgYVGM4_wrKOcNjTGpnydn5KPSVxjDMihFBD" style="border: none; transform: rotate(0rad);" width="624" /></span><span style="background-color: white; color: black; font-family: "verdana"; vertical-align: baseline; white-space: pre-wrap;"><img height="656" src="https://lh4.googleusercontent.com/p4R3h1wx9xNqvmpua637nEIOU8dMzbxlpIj7Y_DhMVGa3KE6KjEhQiept1Nvxr-z5ZtYkwVtmqdIvSiG7A3UV0VWbeJxOlJYB1W_f5Mq2TxcL10C0g-RN4ML2yGsggao4yJGrYl4" style="border: none; transform: rotate(0rad);" width="624" />
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<span style="white-space: pre-wrap;"><span style="font-family: "arial";"><b>笔者</b></span></span></div>
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Simple Investinghttp://www.blogger.com/profile/07534303062433189556noreply@blogger.com1tag:blogger.com,1999:blog-5636583082398679377.post-84795869561794651402017-10-24T22:34:00.005-07:002017-10-25T01:51:44.024-07:00寻找投资护城河真的那么重要? - by 张无忌<b><span style="font-size: large;">寻找投资护城河真的那么重要?</span></b><br />
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<span style="font-family: 新細明體;">巴菲特 </span><span style="font-family: "century gothic";">(Warren Buffett) 曾经描述</span><span style="font-family: 新細明體;">了他想要投资的公司的特征</span><span style="font-family: 新細明體;">。第一个因素可分为4个:</span></div>
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<span style="font-family: "century gothic";">1</span><span style="font-family: "century gothic";">.
</span><span style="font-family: 新細明體;">自己能够理解</span><span style="font-family: 新細明體;">的 </span></div>
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<span style="font-family: "century gothic";">2</span><span style="font-family: "century gothic";">.
</span><span style="font-family: 新細明體;">具有长期競爭</span><span style="font-family: 新細明體;">力</span></div>
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<span style="font-family: "century gothic";">3</span><span style="font-family: "century gothic";">.
</span><span style="font-family: 新細明體;">管理层诚实可信并且有能</span><span style="font-family: 新細明體;">力</span></div>
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<span style="font-family: "century gothic";">4</span><span style="font-family: "century gothic";">.
</span><span style="font-family: 新細明體;">有吸引力或者合理的价格</span><span style="font-family: 新細明體;"><br /></span></div>
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<span style="font-family: "courier new" , "courier" , monospace;"><span style="text-indent: -0.38in;">然而第 </span><span style="text-indent: -0.38in;">2 个</span><span style="text-indent: -0.38in;">因素其实就是巴菲特经常提到的</span><span style="text-indent: -0.38in;">护城河,</span><span style="text-indent: -0.38in;">只要找到有护城河的公司,未来买股票</span></span></div>
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<span style="font-family: "courier new" , "courier" , monospace;"><span style="text-indent: -0.38in;">的</span><span style="text-indent: -0.38in;">日子不止可以睡得安稳,还可以享受投资生意的乐趣。</span></span></div>
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<span style="text-indent: -0.38in;"><span style="font-family: "courier new" , "courier" , monospace;">但是护城河是可以衡量的吗?当然不可以,想要投资在拥有护城河的公司上面,你不止需要拥有很好的思维及生意观点,你还要拥有过于他人的远见。大家都知道巴菲特是全球世界第二首富,那么我只要买他买的股票不就行了吗?当时笔者也是那么想的,但是一看巴菲特的PORTFOLIO 才傻眼,都是一些又贵又没有肉吃的股票,好无聊啊。但是有多少人又去认真研究为什么巴菲特当初在那个时间点买进这些公司,又有多少人去思考他买进这间公司的动机呢?这边大家可要好好想一想。</span></span></div>
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<span style="font-family: 新細明體;">废话少说,让我们来看看投资护城河最常见的4大特征:</span></div>
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<span style="font-size: large;"><span style="font-family: 新細明體;">第一:</span><span style="color: #2f5897; font-family: 幼圆;">护城</span><span style="color: #2f5897; font-family: 幼圆;">河
</span><span style="color: #2f5897; font-family: "palatino linotype";">– </span><span style="color: #2f5897; font-family: 幼圆;">无形资产</span></span></div>
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<span style="font-family: 新細明體; text-indent: -0.38in;">公司</span><span style="font-family: 宋体; text-indent: -0.38in;">可能</span><span style="font-family: 新細明體; text-indent: -0.38in;">有的</span><span style="font-family: 宋体; text-indent: -0.38in;">无形资产</span><span style="font-family: 新細明體; text-indent: -0.38in;">包括</span><span style="color: #00b0f0; text-indent: -0.38in;">专利</span><span style="color: #00b0f0; text-indent: -0.38in;">、法規</span><span style="color: #00b0f0; text-indent: -0.38in;">授权</span><span style="color: #00b0f0; text-indent: -0.38in;">或品牌等等</span><span style="font-family: 宋体; text-indent: -0.38in;">。这些无形资</span><span style="font-family: 宋体; text-indent: -0.38in;">产能使公司的竞争对手</span></div>
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<span style="font-family: 宋体; text-indent: -0.38in;">无</span><span style="font-family: 宋体; text-indent: -0.38in;">法</span><span style="font-family: 宋体; text-indent: -0.38in;">跟</span><span style="font-family: 宋体; text-indent: -0.38in;">进</span><span style="font-family: 宋体; text-indent: -0.38in;">销</span><span style="font-family: 宋体; text-indent: -0.38in;">售</span><span style="font-family: 宋体; text-indent: -0.38in;">同</span><span style="font-family: 宋体; text-indent: -0.38in;">类产品或服务。以此避免竞争对手来抢他们的生意</span><span style="font-family: 宋体; text-indent: -0.38in;">。</span></div>
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<span style="font-family: 宋体; text-indent: -0.38in;">最经典的例子就是大家最熟悉的MYEG 啦。2013年,移民局宣布不再接收柜台缴付外劳人头</span></div>
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<span style="font-family: 宋体; text-indent: -0.38in;">税,当时MYEG 就这样变成了唯一可以缴付外劳人头税的平台,一个人头抽一点钱,他们都</span><br />
<span style="font-family: 宋体; text-indent: -0.38in;">赚</span><span style="font-family: 宋体; text-indent: -0.38in;">够了。</span><span style="font-family: "century gothic"; text-indent: -0.38in;">2007</span><span style="font-family: 宋体; text-indent: -0.38in;">年</span><span style="font-family: "century gothic"; text-indent: -0.38in;">1</span><span style="font-family: 宋体; text-indent: -0.38in;">月,公司的股价只是区区 </span><span style="font-family: "century gothic"; text-indent: -0.38in;">55
</span><span style="font-family: "century gothic"; text-indent: -0.38in;">sen</span><span style="font-family: "century gothic"; text-indent: -0.38in;">
</span><span style="font-family: 宋体; text-indent: -0.38in;">,</span><span style="font-family: "century gothic"; text-indent: -0.38in;">market
</span><span style="font-family: "century gothic"; text-indent: -0.38in;">capitalisation
</span><span style="font-family: 宋体; text-indent: -0.38in;">也只</span><span style="font-family: "century gothic"; text-indent: -0.38in;">RM69mil</span><span style="font-family: "century gothic"; text-indent: -0.38in;">. </span></div>
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<span style="font-family: 宋体; text-indent: -0.38in;">但是</span><span style="font-family: "century gothic"; text-indent: -0.38in;">MYEG在</span><span style="font-family: 宋体; text-indent: -0.38in;">今天的市值已经超过</span><span style="font-family: "century gothic"; text-indent: -0.38in;">RM7bil,
</span><span style="font-family: 宋体; text-indent: -0.38in;">也就是翻了</span><span style="font-family: "century gothic"; text-indent: -0.38in;">104
</span><span style="font-family: 宋体; text-indent: -0.38in;">倍。谁买到这间公司发梦都会笑。</span></div>
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<span style="font-family: 宋体; text-indent: -0.38in;"><a href="http://www.thestar.com.my/business/business-news/2017/04/08/whats-up-with-excel-force/">http://www.thestar.com.my/business/business-news/2017/04/08/whats-up-with-excel-force/</a></span></div>
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至于品牌我们今天就暂且不谈国外,我们就来谈一谈马来西亚最出名的东西,那就是...<br />
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<span style="font-family: 新細明體;">马来西亚的包装咖啡包种类繁多,而且全部都闻名国外,当然最出名的就有股民最爱的</span></div>
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<span style="font-family: 新細明體;">OLDTOWN 及 POWER ROOT ( AH HUAT 白咖啡),今年淘宝的双11又接近了,他们是否会受</span></div>
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<span style="font-family: 新細明體;">惠呢?这边就要看看公司的品牌粘度有多强,可以赢得民心多久了。</span></div>
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<span style="font-family: 新細明體; font-size: large;">第二:护城河 - 转换成本</span></div>
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<span style="font-family: 宋体; text-indent: -0.38in;">大</span><span style="font-family: 宋体; text-indent: -0.38in;">家不要误会这个转换成本的意思,这里的意思是如果今天</span><span style="font-family: 宋体; text-indent: -0.38in;">公</span><span style="font-family: 宋体; text-indent: -0.38in;">司或顾客要从消费</span><span style="font-family: "century gothic"; text-indent: -0.38in;">A
</span><span style="font-family: 宋体; text-indent: -0.38in;">换成 消费</span></div>
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<span style="font-family: "century gothic"; text-indent: -0.38in;">B</span><span style="font-family: 宋体; text-indent: -0.38in;">,值得吗?还是麻烦吗?</span><span style="font-family: 宋体; text-indent: -0.38in;">书</span><span style="font-family: 新細明體; text-indent: -0.38in;">中</span><span style="font-family: 宋体; text-indent: -0.38in;">就有</span><span style="font-family: 宋体; text-indent: -0.38in;">举例</span><span style="font-family: 新細明體; text-indent: -0.38in;">人</span><span style="font-family: 新細明體; text-indent: -0.38in;">們很少</span><span style="font-family: 新細明體; text-indent: -0.38in;">更</span><span style="font-family: 宋体; text-indent: -0.38in;">换</span><span style="font-family: 新細明體; text-indent: -0.38in;">往來</span><span style="font-family: 宋体; text-indent: -0.38in;">银行</span><span style="font-family: 宋体; text-indent: -0.38in;">,因为换</span><span style="font-family: 新細明體; text-indent: -0.38in;">到新</span><span style="font-family: 宋体; text-indent: -0.38in;">银</span><span style="font-family: 新細明體; text-indent: -0.38in;">行</span><span style="font-family: 新細明體; text-indent: -0.38in;">不</span><span style="font-family: 新細明體; text-indent: -0.38in;">僅</span><span style="font-family: 宋体; text-indent: -0.38in;">需要填</span></div>
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<span style="font-family: 宋体; text-indent: -0.38in;">写很多表格,还</span><span style="font-family: 新細明體; text-indent: -0.38in;">要更</span><span style="font-family: 宋体; text-indent: -0.38in;">换</span><span style="font-family: 新細明體; text-indent: -0.38in;">帳</span><span style="font-family: 新細明體; text-indent: -0.38in;">戶設</span><span style="font-family: 新細明體; text-indent: -0.38in;">定</span><span style="font-family: 宋体; text-indent: -0.38in;">,</span><span style="font-family: 新細明體; text-indent: -0.38in;">另外</span><span style="font-family: 宋体; text-indent: -0.38in;">还</span><span style="font-family: 新細明體; text-indent: -0.38in;">有</span><span style="font-family: 宋体; text-indent: -0.38in;">万</span><span style="font-family: 新細明體; text-indent: -0.38in;">一</span><span style="font-family: 新細明體; text-indent: -0.38in;">目前</span><span style="font-family: 新細明體; text-indent: -0.38in;">的</span><span style="font-family: 宋体; text-indent: -0.38in;">银</span><span style="font-family: 宋体; text-indent: -0.38in;">行转错账号</span><span style="font-family: 新細明體; text-indent: -0.38in;">而</span><span style="font-family: 新細明體; text-indent: -0.38in;">衍生的未知成</span><span style="font-family: 新細明體; text-indent: -0.38in;">本</span><span style="font-family: 宋体; text-indent: -0.38in;">,那</span></div>
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<span style="font-family: 宋体; text-indent: -0.38in;">不是更加麻烦?</span><span style="font-family: 新細明體; text-indent: -0.38in;">這些都</span><span style="font-family: 新細明體; text-indent: -0.38in;">是</span><span style="font-family: 宋体; text-indent: -0.38in;">投资</span><span style="font-family: 新細明體; text-indent: -0.38in;">人的</span><span style="font-family: 宋体; text-indent: -0.38in;">转换</span><span style="font-family: 新細明體; text-indent: -0.38in;">成本</span><span style="font-family: 宋体; text-indent: -0.38in;">,</span><span style="font-family: 宋体; text-indent: -0.38in;">当</span><span style="font-family: 宋体; text-indent: -0.38in;">转</span><span style="font-family: 宋体; text-indent: -0.38in;">换</span><span style="font-family: 新細明體; text-indent: -0.38in;">成本</span><span style="font-family: 宋体; text-indent: -0.38in;">越</span><span style="font-family: 新細明體; text-indent: -0.38in;">大,</span><span style="font-family: 宋体; text-indent: -0.38in;">投资</span><span style="font-family: 新細明體; text-indent: -0.38in;">人</span><span style="font-family: 宋体; text-indent: -0.38in;">越</span><span style="font-family: 新細明體; text-indent: -0.38in;">不</span><span style="font-family: 宋体; text-indent: -0.38in;">会随意更换银</span></div>
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<span style="font-family: 宋体; text-indent: -0.38in;">行</span><span style="font-family: 宋体; text-indent: -0.38in;">,</span><span style="font-family: 新細明體; text-indent: -0.38in;">因此</span><span style="font-family: 宋体; text-indent: -0.38in;">转换</span><span style="font-family: 新細明體; text-indent: -0.38in;">成</span><span style="font-family: 新細明體; text-indent: -0.38in;">本也是公司</span><span style="font-family: 新細明體; text-indent: -0.38in;">的</span><span style="font-family: 宋体; text-indent: -0.38in;">护城河</span><span style="font-family: 新細明體; text-indent: -0.38in;">之一</span><span style="font-family: 宋体; text-indent: -0.38in;">。最常见的就是银行和保险公司,所以这些公司的</span></div>
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<span style="font-family: 宋体; text-indent: -0.38in;">PE 之所以那么高,也是有理由的。</span></div>
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<span style="font-size: large;"><span style="font-family: 宋体; text-indent: -0.38in;">第三 : </span><span style="color: #2f5897; font-family: 幼圆;">护城河</span><span style="color: #2f5897; font-family: "palatino linotype";">-
</span><span style="color: #2f5897; font-family: 幼圆;">网络经济</span></span></div>
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<span style="font-family: 新細明體; text-indent: -0.38in;">透過</span><span style="font-family: 宋体; text-indent: -0.38in;">广</span><span style="font-family: 新細明體; text-indent: -0.38in;">大的</span><span style="font-family: 宋体; text-indent: -0.38in;">网</span><span style="font-family: 宋体; text-indent: -0.38in;">络效益</span><span style="font-family: 新細明體; text-indent: -0.38in;">,公</span><span style="font-family: 新細明體; text-indent: -0.38in;">司的商品或服</span><span style="font-family: 新細明體; text-indent: -0.38in;">務</span><span style="font-family: 宋体; text-indent: -0.38in;">价</span><span style="font-family: 宋体; text-indent: -0.38in;">值</span><span style="font-family: 宋体; text-indent: -0.38in;">会</span><span style="font-family: 新細明體; text-indent: -0.38in;">因</span><span style="font-family: 新細明體; text-indent: -0.38in;">用</span><span style="font-family: 新細明體; text-indent: -0.38in;">戶</span><span style="font-family: 宋体; text-indent: -0.38in;">的数量上涨而成长!</span><span style="font-family: 新細明體; text-indent: -0.38in;">最</span><span style="font-family: 新細明體; text-indent: -0.38in;">有</span><span style="font-family: 宋体; text-indent: -0.38in;">价值</span><span style="font-family: 新細明體; text-indent: -0.38in;">的</span><span style="font-family: 宋体; text-indent: -0.38in;">网络</span></div>
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<span style="font-family: 新細明體; text-indent: -0.38in;">商</span><span style="font-family: 新細明體; text-indent: -0.38in;">品就是用戶最多的商。</span><span style="font-family: "century gothic"; text-indent: -0.38in;">EXAMPLE</span><span style="font-family: 宋体; text-indent: -0.38in;">:</span><span style="font-family: 新細明體; text-indent: -0.38in;">很</span><span style="font-family: 新細明體; text-indent: -0.38in;">多人之所以</span><span style="font-family: 新細明體; text-indent: -0.38in;">用</span><span style="font-family: "century gothic"; text-indent: -0.38in;">microsoft</span><span style="font-family: 新細明體; text-indent: -0.38in;">的</span><span style="font-family: "century gothic"; text-indent: -0.38in;">Word</span><span style="font-family: 新細明體; text-indent: -0.38in;">、</span><span style="font-family: "century gothic"; text-indent: -0.38in;">Office</span><span style="font-family: 新細明體; text-indent: -0.38in;">、</span></div>
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<span style="font-family: "century gothic"; text-indent: -0.38in;">Windows</span><span style="font-family: "century gothic"; text-indent: -0.38in;"> </span><span style="font-family: "century gothic"; text-indent: -0.38in;">OS</span><span style="font-family: 新細明體; text-indent: -0.38in;">,就</span><span style="font-family: 新細明體; text-indent: -0.38in;">是因為很多人用</span><span style="font-family: "century gothic"; text-indent: -0.38in;">Word</span><span style="font-family: 新細明體; text-indent: -0.38in;">、</span><span style="font-family: "century gothic"; text-indent: -0.38in;">Office</span><span style="font-family: 新細明體; text-indent: -0.38in;">、</span><span style="font-family: "century gothic"; text-indent: -0.38in;">Windows</span><span style="font-family: "century gothic"; text-indent: -0.38in;">
</span><span style="font-family: "century gothic"; text-indent: -0.38in;">OS</span><span style="font-family: 新細明體; text-indent: -0.38in;">。</span></div>
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<span style="font-family: 新細明體; text-indent: -0.38in;">另外一个最经典的例子就是脸书及阿里巴巴啦,因为越来越多用户,他们可以收集的</span><span style="font-family: 宋体;">资料更</span></div>
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<span style="font-family: 宋体;">多,拥有更</span><span style="font-family: 宋体; text-indent: -0.38in;">多数据</span><span style="font-family: "century gothic"; text-indent: -0.38in;">, 因此也可以吸引更多</span><span style="font-family: 宋体; text-indent: -0.38in;">广告商,他们就会越赚钱。</span><span style="font-family: 宋体; text-indent: -0.38in;">阿里巴巴就是知道只要有</span></div>
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<span style="font-family: 宋体; text-indent: -0.38in;">越多商家在他的网站上,就会吸引越多顾客,越多顾客,又会吸引更多商家!
所以大家可以</span></div>
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<span style="font-family: 宋体; text-indent: -0.38in;">看到现在的线上购物公司愿意砸钱给你优惠(DISCOUNT VOUCHER)就是要吸引你用他的平台!</span></div>
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<span style="font-size: large;"><span style="font-family: 新細明體;">第四 : </span><span style="color: #2f5897; font-family: 幼圆;">护城河
</span><span style="color: #2f5897; font-family: "palatino linotype";">– </span><span style="color: #2f5897; font-family: 幼圆;">成</span><span style="color: #2f5897; font-family: 幼圆;">本优势</span></span></div>
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<span style="color: #00b0f0; font-weight: bold; text-indent: -0.38in;">用</span><span style="color: #00b0f0; font-weight: bold; text-indent: -0.38in;">更低的成本</span><span style="color: #00b0f0; font-weight: bold; text-indent: -0.38in;">,</span><span style="color: #00b0f0; font-weight: bold; text-indent: -0.38in;">生产</span><span style="color: #00b0f0; font-weight: bold; text-indent: -0.38in;">商</span><span style="color: #00b0f0; font-weight: bold; text-indent: -0.38in;">品或服</span><span style="color: #00b0f0; font-weight: bold; text-indent: -0.38in;">務</span></div>
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<span style="font-family: 新細明體; text-indent: -0.38in;">成</span><span style="font-family: 新細明體; text-indent: -0.38in;">本</span><span style="font-family: 宋体; text-indent: -0.38in;">优势</span><span style="font-family: 新細明體; text-indent: -0.38in;">可</span><span style="font-family: 新細明體; text-indent: -0.38in;">能來</span><span style="font-family: 新細明體; text-indent: -0.38in;">自</span><span style="font-family: "century gothic"; text-indent: -0.38in;">4</span><span style="font-family: 宋体; text-indent: -0.38in;">种来源</span><span style="font-family: 新細明體; text-indent: -0.38in;">:</span></div>
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<span style="font-family: "century gothic"; text-indent: 0in;">(1) </span><span style="font-family: 宋体; text-indent: 0in;">较</span><span style="font-family: 新細明體; text-indent: 0in;">便</span><span style="font-family: 新細明體; text-indent: 0in;">宜的流程</span></div>
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<span style="font-family: "century gothic"; text-indent: 0in;">(2) </span><span style="font-family: 宋体; text-indent: 0in;">较</span><span style="font-family: 新細明體; text-indent: 0in;">好</span><span style="font-family: 新細明體; text-indent: 0in;">的位置</span></div>
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<span style="font-family: "century gothic"; text-indent: 0in;">(</span><span style="font-family: "century gothic"; text-indent: 0in;">3) </span><span style="font-family: 宋体; text-indent: 0in;">独特</span><span style="font-family: 新細明體; text-indent: 0in;">的</span><span style="font-family: 宋体; text-indent: 0in;">资产</span></div>
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<span style="font-family: "century gothic"; text-indent: 0in;">(4</span><span style="font-family: "century gothic"; text-indent: 0in;">) </span><span style="font-family: 宋体; text-indent: 0in;">较</span><span style="font-family: 新細明體; text-indent: 0in;">大的</span><span style="font-family: 宋体; text-indent: 0in;">规模</span></div>
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<span style="font-family: 宋体; text-indent: 0in;">让</span><span style="font-family: 新細明體; text-indent: 0in;">公</span><span style="font-family: 新細明體; text-indent: 0in;">司可以用</span><span style="font-family: 新細明體; text-indent: 0in;">比</span><span style="font-family: 宋体; text-indent: 0in;">竞争对手</span><span style="font-family: 新細明體; text-indent: 0in;">更</span><span style="font-family: 新細明體; text-indent: 0in;">低的成</span><span style="font-family: 新細明體; text-indent: 0in;">本提</span><span style="font-family: 新細明體; text-indent: 0in;">供商品或服務。</span></div>
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<span style="font-family: 宋体; text-indent: -0.38in;">经典例子
</span><span style="font-family: "century gothic"; text-indent: -0.38in;">–
DELL </span><span style="font-family: 宋体; text-indent: -0.38in;">卖电脑时是省掉中间人的方式直接售卖,所以赚取的利润较高。</span></div>
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<span lang="ZH-CN" style="color: #1d2129; font-family: "simsun"; font-size: 11.5pt;">由于</span><span style="color: #1d2129; font-family: "helvetica" , "sans-serif"; font-size: 11.5pt;">ANNJOO</span><span lang="ZH-CN" style="color: #1d2129; font-family: "simsun"; font-size: 11.5pt;">是大马唯一使用混合式高炉</span><span style="color: #1d2129; font-family: "helvetica" , "sans-serif"; font-size: 11.5pt;">-</span><span lang="ZH-CN" style="color: #1d2129; font-family: "simsun"; font-size: 11.5pt;">电弧炉的钢铁业者,</span><span style="color: #1d2129; font-family: "simsun"; font-size: 11.5pt;">ANNJOO<span lang="ZH-CN">具有高度的操作灵活性。因</span></span></div>
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<span style="color: #1d2129; font-family: "simsun"; font-size: 11.5pt;"><span lang="ZH-CN">此,与其他本地同行相比,公司具有更大的成本优势,同时也不受石墨电极的影响。其余三家长</span></span></div>
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<span style="color: #1d2129; font-family: "simsun"; font-size: 11.5pt;"><span lang="ZH-CN">钢股</span></span><span style="color: #1d2129; font-family: "helvetica" , "sans-serif"; font-size: 11.5pt;">Masteel</span><span lang="ZH-CN" style="color: #1d2129; font-family: "simsun"; font-size: 11.5pt;">、</span><span style="color: #1d2129; font-family: "helvetica" , "sans-serif"; font-size: 11.5pt;">Ssteel</span><span lang="ZH-CN" style="color: #1d2129; font-family: "simsun"; font-size: 11.5pt;">和</span><span style="color: #1d2129; font-family: "helvetica" , "sans-serif"; font-size: 11.5pt;">Lionind</span><span lang="ZH-CN" style="color: #1d2129; font-family: "simsun"; font-size: 11.5pt;">将会被影响,因为这</span><span style="color: #1d2129; font-family: "simsun"; font-size: 11.5pt;">3<span lang="ZH-CN">家公司都只是用电炉造铁的产业者,所以 </span></span></div>
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<span style="color: #1d2129; font-family: "simsun"; font-size: 11.5pt;"><span lang="ZH-CN">MARGIN 都可能会因此下降。</span></span></div>
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另外一个值得我们所举出例子的成本优势就<span style="font-family: 宋体; text-indent: -0.38in;">像只有在热带雨林国家,像马来西亚才可以种出</span><br />
<span style="font-family: 宋体; text-indent: -0.38in;">油棕</span><span style="font-family: 宋体; text-indent: -0.38in;">树,这是我们马来西亚上市公司独特的资产。</span><br />
<span style="font-family: "century gothic"; text-indent: -0.38in;">EXAMPLE:</span><span style="font-family: "century gothic"; text-indent: -0.38in;">KLK,SIME </span><span style="font-family: "century gothic"; text-indent: -0.38in;">DARBY,BATU </span><span style="font-family: "century gothic"; text-indent: -0.38in;">KAWAN。</span><br />
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<span style="font-family: "century gothic";">因为我们处在的地方所带来的优势造就了这些伟大的公司。当然大家可不要忘了热带雨林国</span></div>
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<span style="font-family: "century gothic";">家所能种出的橡胶树,造就了马来西亚的家具业及手套业的公司,如果当初股民都发现了这</span></div>
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<span style="font-family: "century gothic";">个强大的竞争优势,你就应该早早买进那些拥有卓越领导所带领的公司。</span></div>
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总结:</div>
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所以大家仔细想想,寻找拥有护城河的公司重要吗?相信看了以上例子,大家都有了一</div>
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些概念。不怕买错股,只怕买错股了还要帮那只股找故事。当然,寻找有护城河的公司</div>
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也只是其中一项投资方法,大家必须结合不同的方法才可以找到最完美的投资策略。</div>
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LIFEVEST 注重的是价值 + 基本面+ 知识 + 生活投资,就像我们的标语 :</div>
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<span style="font-size: large;"><span style="color: #2f5897; font-family: "palatino linotype";">“</span><span style="color: #2f5897; font-family: 幼圆;">以生活看待投资 用心感受世界进步</span><span style="color: #2f5897; font-family: "palatino linotype";">”</span></span></div>
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很多人问我们技术面或筹码面重要吗? 我们不否认这是在投资里的其中2个方法,但是恰</div>
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好这2<span style="text-indent: -0.38in;">个方法是可以人为做出来的,图表都是被有心人士画出来的。我们要注重的是寻找</span></div>
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<span style="text-indent: -0.38in;">那些会持续成长的企业,一间公司的股价要成长,盈利必须先成长。希望大家领悟到这</span></div>
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<span style="text-indent: -0.38in;">个道理,用“心”去投资。</span></div>
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<span style="text-indent: -0.38in;"><span style="color: cyan; font-size: x-large;"><b>张无忌</b></span></span></div>
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<span style="text-indent: -0.38in;"><span style="color: cyan; font-size: x-large;"><b>LIFEVEST</b></span></span></div>
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lifevesthttp://www.blogger.com/profile/12505975210946867676noreply@blogger.com0tag:blogger.com,1999:blog-5636583082398679377.post-79215597766607660082017-09-12T01:39:00.003-07:002017-09-12T01:43:40.451-07:00SERBA DINAMIK - 赚大钱而被低估的油气股<b><u><span style="font-size: large;">SERBA DINAMIK - 赚大钱而被低估的油气股</span></u></b><br />
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最近油价回稳,OPEC减产也开始发酵,不少油气公司虽然还在努力的从之前的油气风暴慢慢复苏,但是马来西亚就有那么一间公司在这个艰难的环境里生存了下来,而且在过去3年REVENUE及PROFIT都共同创下超过50%的CAGR。今天我们来谈一谈这间被严重低估的股票,SERBA DINAMIK。很多人就会问为什么现在油气都已经不景气,我们还会去看这种不被市场看好的股票呢?<br />
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原因很简单,我们LIFEVEST的理念就是要找与生活紧紧联系,跟着大势环境而改变,被低估,有价值,老板是真干实业家及最重要的是未来盈利也相当有前景的公司。但是这边笔者必须声明,有价值和被低估可以当作2个不同的投资论点。就像之前LIFEVEST笔者周伯通所看中的半导体公司(AEMULUS,PENTA,JHM)及大数据公司(KRONO),我们看到的不是价格(PRICE),而是公司的技术及整个市场的趋势,这些公司的技术及市场地位才是它们的价值(VALUE)。张无忌所看到的几间公司比如(KGB, MLGLOBAL及PTRANS)也是看到公司本身的价值及未来前景可以期待才选择。当然DESTINI 也是我其中一个看错的公司,虽然REVENUE破新高,但是PROFIT MARGIN却没有更上,这里我们就要特别小心。那么被低估可以是PE低于该领域的市场认可,也可以是市场疏忽了一间一直在创造盈利的好公司。<br />
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这里也让我们来套用投资前辈,巴菲特所说过的一句话: “只有在退潮的时候、你才知道谁一直在光着身子游泳”!没错,在油气领域不景气的时候,马来西亚的油气公司赚钱的还没几家,而赚钱了还每年成长的公司更是少之又少。事不宜迟,我们来看一看究竟SERBA DINAMIK这间公司有什么厉害!<br />
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世霸动力(SERBADK),成立于1993年6月,于2017年2月8日上市大马交易所主板。公司总部设在雪兰莪州沙亚南的SERBADK是一家油气与电力业工程解决方案供应商,其服务对象主要是油气与电力领域的公司,业务遍布在大马、卡塔尔、沙地阿拉伯、印尼、阿联酋、巴林和英国等。主要业务有主要分为2个。其一是保养、维修和全面检修(MRO)和检察、维修和保养(IRM)业务。而公司的MRO业务注重在ROTATING EQUIPEMENT, 也就是有关于一些齿轮转动物体比如gas and steam turbines, engines, motors, pumps, compressors and industrial fans。Rotating Equipment 算是一个 niche market, 马来西亚没有很多公司会维修这样的机械,目前马来西亚只有 SAPURA ENERGY有这些技术,而且以订单接量来说, SERBA 会在此领域更加有经验!下图就给大家参考什么是ROTATING EQUIPMENT:<br />
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其二,公司也涉及一些工程、采购、施工和调试(EPCC), 公司现在竞标及专注的项目都是关于OIL AND GAS, POWER GENERATION 和 WATER TREATMENT 的 PROJECTS。公司也为了在WATER TREAMENT PLANT的项目有所作为,收购了来自登加楼的Konsortium Amanie JV Sdn Bhd 40% 的股权,总共花了RM34.0m 的现金以扩充公司在EPCC 的业务。此收购案非常正面,一来公司不止可以获得高达RM287.9 MILLION的EPCC项目,未来公司也有很大的机会拿到一些维修工程(IRM) 长达15年,这大大保证了此收购案所带来的利益。<br />
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其他的业务就包括了 technical training, provision of ICT solutions and services, supply of products and parts, and provision of logistics services.。这些小业务也是帮助SERBADK拥有更全方位的服务及技术的重要业务。比如在technical training上,公司所给予的教育都保证学生们得以到PETRONAS及一些油气公司担任技术员,另外让笔者惊讶的还有公司ICT solutions and services,它们的SOFTWARE可是自己研发出来而且还申请了专利及版权!<br />
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还有最近SERBA上市的目的,也是在努力在探讨公司的新业务,Asset owned recurring income这个业务。为什么要进军这个业务呢?因为公司也想拥有一些稳定的收入来维持公司的现金流而且这些ASSET还可以帮助公司得到一些O&M计划,一举两得。目前为止,公司拥有的ASSET 分别有:<br />
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1) 在沙巴的3座小型水利发电站即将于今年投入营运<br />
- 公司收购了ADAT SANJUNG 30%的股权,公司预测2018 Q1 年营业额开始贡献,每年至少可以贡献RM10m 这将会成为公司第一个RECURRING INCOME的ASSET, 此计划也将会用上Capstone micro-turbine technology (他们的分销商给他们代理的物件) use the assets as a testing platform as part of their R&D for potential future projects.。<br />
- 公司将会负责所以保养及维修(O&M) 长达21年。<br />
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2) 在印尼设立小型燃气电厂和供水设施<br />
- 一个高达 0.8MW 小型燃气电厂和供水设施在印尼的 Ambon Island,此设施将全全受惠于Ambon City Centre shopping mall 长达10年。<br />
- SERBADK已经和当地政府签下此项MOU, 现在还在初步探讨的阶段。<br />
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3)在印尼建设一个compressed natural gas (CNG) plant供应当地电力<br />
- SERBADK拥有51%的股权,地点位于 Muaro Jambi, Indonesia。贡献的RECURRING INCOME不明但是会长达6年。<br />
- SERBADK也会给予O&M SERVICE 长达10年。<br />
- 计划在增加高达4MW 的CNG PLANT,这将会间接在推高公司收入。<br />
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如果大家仔细阅读以上的Asset owned recurring income这个业务,不难发现SERBADK在外交方面真的做得相当不错,可以得到印尼的当地政府信任实在不容易。下图就简介的让大家看SERBADK的业务及生意。<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj-JdKzV6lH1d96QRRWyq1oNndqs2eNgDj-DRwRRaQqPLknDRrTKURl8CAmjWpZrqsaY6T0GOCqBHF2sgNldIJUQ7gy9Jkc0oRwJacbDn_fB4KxpKoclbievYAxDZqDCQdcP3gilCkAXCw/s1600/aaa.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="510" data-original-width="642" height="317" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj-JdKzV6lH1d96QRRWyq1oNndqs2eNgDj-DRwRRaQqPLknDRrTKURl8CAmjWpZrqsaY6T0GOCqBHF2sgNldIJUQ7gy9Jkc0oRwJacbDn_fB4KxpKoclbievYAxDZqDCQdcP3gilCkAXCw/s400/aaa.png" width="400" /></a></div>
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这边我们又在看回来这个生意到底值不值得投资,在油气不景气的时刻,为什么还是可以看到此公司频频拿到大PROJECTS? 老板曾经说了一句话,那就是订单也许会减少,但是肯定不会停止。为什么会这样呢? 原来每个国家政府有条规,就像马来西亚所有的油气工厂必须在一年至一年半内停止运转及维修。下面笔者就放出2个条规:<br />
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1. According to the Department of Occupational Safety and Health (DOSH), pressure plants would have to be shut down for MRO work every 18 months. (1年半至少要关掉一次 FOR MRO )<br />
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2. As required by DOSH, manufacturing plants are required to undergo inspections every 15-21 months to obtain Certificate of Fitness (CoF) renewals. (1年3个月至2年至少要关掉 FOR IRM )<br />
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SERBA DINAMIK 已经有了23年的历史,而且它还握有PETRONAS LICENSED (SWEC CODES) ,这个LICENSED代表着公司获得PETRONAS的认证竞标所有关于PETRONAS的项目。这里我们也简单说一说为什么SERBADK可以拿到那么多ROTATING EQUIPEMENT的订单。原来在这些机械的WARRANTY 结束后,SERBA就会通过比较COMPETITIVE的价钱去竞标这些订单,而且SERBA本身就和多家厂商合作,所以SERBA可以处理不同品牌的ROTATING EQUIPEMENT,是一个绝对的优势!<br />
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除此之外,SERBADK的处在位置位于 SARAWAK,也就是处在马来西亚最多天然气及油田的位置,而且SARAWAK政府也有条规要求当地的所有的O&M项目都必须让处在SARAWAK的公司优先,目前只有DELEUM也在那边,但是论技术的话,我相信SERBADK肯定比DEELUM强!下面我们来看一看SERBADK的客户群:<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiMH6mI4tSY_CcpQZvQ2fvcXlaDmJFUcZzmckv-iMT-9RDtP6F0ySaFqKGejY-XF79mavEBK_4JvwFQSFUmpwgC_R9BMnijsoe_-kRHZriReWKlzImt9H2rOHXEcSntgSC7Vs7BxyBGYek/s1600/dsd.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="468" data-original-width="1033" height="288" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiMH6mI4tSY_CcpQZvQ2fvcXlaDmJFUcZzmckv-iMT-9RDtP6F0ySaFqKGejY-XF79mavEBK_4JvwFQSFUmpwgC_R9BMnijsoe_-kRHZriReWKlzImt9H2rOHXEcSntgSC7Vs7BxyBGYek/s640/dsd.png" width="640" /></a></div>
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公司在今年上市后大笔买进在BINTULU附近的地皮及做更大的扩充,这是因为老板看到了2个机会:<br />
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第一: PETRONAS在BINTULU即将扩充另外一个LNG TRAIN (TRAIN 9) , 这将会带来非常大的维修及保养订单。<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhGnfCpeG7niQ4brEiP2_qT4-oQYTqi9-dgO_qSK_hEU0lBCmdAA6hllgs-rsjO8R4b5GseSlVre2loDBUnAZwEInNhvdHSTdthb-gAKCUNsAzw7o5GNReCQQ39-4LCMklCaX3wbmONO0Y/s1600/dadd.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="648" data-original-width="946" height="273" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhGnfCpeG7niQ4brEiP2_qT4-oQYTqi9-dgO_qSK_hEU0lBCmdAA6hllgs-rsjO8R4b5GseSlVre2loDBUnAZwEInNhvdHSTdthb-gAKCUNsAzw7o5GNReCQQ39-4LCMklCaX3wbmONO0Y/s400/dadd.png" width="400" /></a></div>
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第二: SARAWAK政府将在未来几年花费庞大的数目来打造更大的发电厂,而SAMALAJU将是最大且集中最多发电厂的地方,投资金额高达RM44.5 BILLION,而SAMALAJU及SERBADK的BINTULU SERVICE CENTRE距离80公里,相信公司将会受惠于这庞大的项目,报告EPCC 和 O&M的项目!<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjH9VyZAIRDvJLsMxx1G9vlOJPWBUxtp3JCovrWUg_oCQs6SM8Szc-fCz9rfJmV2nmOdkBmIg_dh7nsaFMRz5mpYUkJGnnWpdUJDyzdPpbsNE2YiXc7TQm3Sa9CNtALqj3oGYB2fJ7puck/s1600/grfg.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="613" data-original-width="829" height="295" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjH9VyZAIRDvJLsMxx1G9vlOJPWBUxtp3JCovrWUg_oCQs6SM8Szc-fCz9rfJmV2nmOdkBmIg_dh7nsaFMRz5mpYUkJGnnWpdUJDyzdPpbsNE2YiXc7TQm3Sa9CNtALqj3oGYB2fJ7puck/s400/grfg.png" width="400" /></a></div>
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SERBADK 为了赶上在柔佛的 Refinery and Petrochemical Integrated Development (RAPID) 计划,也用上IPO 所得到的 RM 20 MILLION 来设立一个小工厂以便让自己可以参与再此维修计划当中。加上RAPID附近也有另一个Pengerang Integrated Petroleum Complex (PIPC), 这会大大增加他们在夺得此计划的机会!<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjyz-LnFq56Ol229cdXu5mkyknlvo1o2-7yommi4YGALWNHRgH4MDrCz4Z4-71AnIKDo6uiAFNFFMqW-c84it3zn4iqLNx4E2cNE5Y9Nv8E35oIulJb5m5PCpzo0NtKKJJLix9XNBSbXdo/s1600/htth.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="768" data-original-width="549" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjyz-LnFq56Ol229cdXu5mkyknlvo1o2-7yommi4YGALWNHRgH4MDrCz4Z4-71AnIKDo6uiAFNFFMqW-c84it3zn4iqLNx4E2cNE5Y9Nv8E35oIulJb5m5PCpzo0NtKKJJLix9XNBSbXdo/s320/htth.jpg" width="228" /></a></div>
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不久后,公司也签下2项Memorandum of Agreement (“MOA”):<br />
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• 第一个是和Izin Budi Sdn Bhd 共同发展一个16 ACRES的工业地,SERBADK将以 RM25 MILLION 买下这片地。<br />
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• 第二个是和 AlMurisi Holding Sdn Bhd 共同建设高达 70- acre mixed residential and commercial development area, 除此之外,SERBADK也购买了这个合作公司的30%股权,总共花了现金RM18.3 MILLION。<br />
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剩下的 47 acres land 公司将花上 RM56m 来建设Serba maintenance, repair or overhaul (MRO) 和 inspection, repair & maintenance (IRM) 的中心,此中心也是为了应付将来靠近PETRONAS REFINERY 的维修服务!而这2个工厂将在2019年的下半年开始服务。<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiDSlCOpafSrhpXgVdwarPwYZ-b6EZtHEMwB-alAnZZ5aEuTKpHXuo_PYUwJ2IpNYAjAmChswZ6t_L0X4KwiUY-ilVT0XVh-pw3-CnkG9qQIbTunijsIb0r0ZQMscqdpesmL09G2IPN51s/s1600/mhm.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="448" data-original-width="915" height="195" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiDSlCOpafSrhpXgVdwarPwYZ-b6EZtHEMwB-alAnZZ5aEuTKpHXuo_PYUwJ2IpNYAjAmChswZ6t_L0X4KwiUY-ilVT0XVh-pw3-CnkG9qQIbTunijsIb0r0ZQMscqdpesmL09G2IPN51s/s400/mhm.png" width="400" /></a></div>
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此计划将带来2样收入:<br />
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1. 第一个收入就是来自EPCC, 因为SERBADK将全全负责建造 PNR 的屋子及店屋,此项目高达 RM500 MILLION 的额外订单。 至于PEiP & PICC 的建造费将不会纳入P&L, 而是放进 PPE ,因为这些工厂及OFFICE 高楼将在建好后以出租或卖的方式来获取额外收入,最快也得等到FY2020。<br />
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2. 第二笔收入就是来自NORTH RESIDENCE 的房屋计划,因为SERBADK已经购买AlMurisi Holding Sdn Bhd 30%的股权,所以他们将在未来得到一些额外收入!当PETRONAS 的 RAPID 这个油气业下游大计划实行后,将会带动当地的经济活动,许多工人将纷纷在附近居住,所以此房屋计划可以说是包赚的计划。<br />
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上面大家可以看到SERBADK上市的原因及本地非常AGGRESSIVE的扩充。再来我们看一看公司在外地的扩充表现如何:<br />
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1)SERBA最近和一家英国公司NICOL & ANDREW 签了一个MOA。此合约是英国公司指定SERBA成为它的EXCLUSIVE 维修公司,也代表有哪一个公司向它购买了ROTATING EQUIPMENT, 维修上面将全全由SERBA来做,间接的将会增加更多订单。<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhZ9Atz0MJHqQtkRQE9qL2Nfor96OLZgBVkEyxvcVDFQeOMqvKHKotyNuOUGqT_DBieXarX_wNIXpCD2f2SteGjf9LjvJ01WPL5v7aq8oAw55T8il7lKupM-KtzES1X-DwNVdL078sHNLk/s1600/jjt.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="515" data-original-width="569" height="361" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhZ9Atz0MJHqQtkRQE9qL2Nfor96OLZgBVkEyxvcVDFQeOMqvKHKotyNuOUGqT_DBieXarX_wNIXpCD2f2SteGjf9LjvJ01WPL5v7aq8oAw55T8il7lKupM-KtzES1X-DwNVdL078sHNLk/s400/jjt.png" width="400" /></a></div>
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2)Serba Dinamik 现在正在与 Jeddah, Saudi Arabia-based Islamic Development Bank (IDB) 探讨怎样OPERATE 和 FUNDING 这个来自 Africa 的PROJECTS, 最快将在来临的4QFY17揭晓此计划。 这2个地区包括IVORY COAST 及 TANZANIA,公司预计每年会带来RM 2 BILLION 的O&M PROJETS。选择 IDB 的原因是它在该地区设立超过30年的 NETWORK。如果此计划真的得到并进行,此计划将会贡献在 1QFY18 。公司也预计如果成功得到那边的计划,AFRICA 至少会贡献介于15-20% 的营业额(FY18)。根据公司的营业额,AFRICA 贡献的营业额会介于 RM 500 – 800 MILLION ,此地区的revenue也将会续MALAYSIA 和 QATAR 后成为第3大的贡献国家。<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgrcusG0VZ9CLfZQY5Ud0M7ReU-3FIrJ1ndiBmJ7aBJ-cChpnjJ7piNFyPXApKuHjVLz6K_KVTXnkD8JQedOK-PoOchNRVEu5T3w-_mNEz3u-qmcX5UoJb_iGqx94BDkqsqwmY1_b0VkD0/s1600/theh.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="396" data-original-width="1099" height="228" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgrcusG0VZ9CLfZQY5Ud0M7ReU-3FIrJ1ndiBmJ7aBJ-cChpnjJ7piNFyPXApKuHjVLz6K_KVTXnkD8JQedOK-PoOchNRVEu5T3w-_mNEz3u-qmcX5UoJb_iGqx94BDkqsqwmY1_b0VkD0/s640/theh.png" width="640" /></a></div>
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说到海外生意就不能不提一提公司在QATAR的生意,因为当地发生了 THE GULF CRISIS, 也就是围绕在QATAR的几个中东国家拒绝与QATAR来往,而且断绝他们的海陆空来往。因为此事件,导致SERBADK的股票从北转南,急急下跌。但是此事件真的会影响SERBADK吗?这里我们来看看老板的解释:<br />
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• 第一老板就有说到这次 QATAR 的事件如果以理性思考,是一个机会! 为什么那么说呢? 原因很简单,老板有说到其他MRO 及 IRM 公司来自那些与他断交的国家,将会影响他们在 QATAR 里进行工程,所以SERBA 将会有更大机会竞标到更多来自 QATAR的订单!<br />
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• 第二其实此断交是完全没有影响到LNG SEGMENT 因为 QATAR 出口的国家都是没有牵涉在这个GULF CRISIS的国家,比如阿曼,日本,中国,伊朗及印度。而且QATAR是全世界最大的LNG供应国家,如果说断就断,那么世界真的要大战了。<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi1V_8YmeB2KQhxjn2Y5dn1Pfeiyohl6cdgKDUUF3L-loJgwmgoSURxdGjEQZWgqe8Az6Q-fzW4BASb2gCEa9APru9S3niaDzhSAVsy8GKGFSb04qYnSsWNvGfknOx9PF8_u8r5Xc1905U/s1600/tW.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="350" data-original-width="500" height="280" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi1V_8YmeB2KQhxjn2Y5dn1Pfeiyohl6cdgKDUUF3L-loJgwmgoSURxdGjEQZWgqe8Az6Q-fzW4BASb2gCEa9APru9S3niaDzhSAVsy8GKGFSb04qYnSsWNvGfknOx9PF8_u8r5Xc1905U/s400/tW.png" width="400" /></a></div>
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说了那么多,让我们来看看公司老板持有着公司多少股权,看一看他对自己的公司有多信心!下图我们可以看到合计3个董事局老板的股权,高达60%!而且翻查了最近的ANNOUNCEMENT,其中一个股东也继续频频买进。<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1Nn9n7qxwxSPWnW0HzhSgXkz4THiAeeXfCFVwtDLObtbfSolvshB3utXVrdxuzxA85wWP3-OxW_LerwH2yskNIRLB2MohfcZMOtrIpK05KIHSO0vTSi9IXsNjlZjK_UGV_B9uwidcnRw/s1600/U5U4.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="190" data-original-width="609" height="123" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1Nn9n7qxwxSPWnW0HzhSgXkz4THiAeeXfCFVwtDLObtbfSolvshB3utXVrdxuzxA85wWP3-OxW_LerwH2yskNIRLB2MohfcZMOtrIpK05KIHSO0vTSi9IXsNjlZjK_UGV_B9uwidcnRw/s400/U5U4.png" width="400" /></a></div>
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说到这边也接近尾声了,此公司虽然业务看似复杂,但是如果以宏观角度看这间公司,我只能说此公司的老板非常聪明,花的每一分钱及做的每一个收购或扩张都非常到位! 但是是什么吸引了笔者会仔细去阅读这家公司呢?我们来看一看下图显示公司在过去3年的营业额:<br />
你绝对没有看错,公司在过去3年的扩张决定让你惊讶,公司竟然在过去3年油价暴跌的情况下营业额的CAGR 高达66%那么多,每年成长超过50%!你说这个公司的老板的执行力有多强,这个我让大家自己去判断。<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiq4hlilFYSpT5nUGQh2BUn6ZH_6U9SlhF3AUkOjc-y5UJdSuBpw4KS7-6TDkz_2ukcYCbZ8WAliAtdatB-twkWAjHTWrtmPhNhbh7zX4gTNF8Heg5HQy_8QVNOeQpCTBw9RW0WTg-4qpA/s1600/uyu.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="571" data-original-width="523" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiq4hlilFYSpT5nUGQh2BUn6ZH_6U9SlhF3AUkOjc-y5UJdSuBpw4KS7-6TDkz_2ukcYCbZ8WAliAtdatB-twkWAjHTWrtmPhNhbh7zX4gTNF8Heg5HQy_8QVNOeQpCTBw9RW0WTg-4qpA/s400/uyu.png" width="366" /></a></div>
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SERBADK 现在目前持有超过125份合约,期限介于2017年至2021年,手持订单总额达RM5.2 BILLION,你没有看错这笔庞大的订单已经足够让公司继续成长到FY2019!现在SERBADK 的 TENDER BOOK VALUE 也高达RM12 BILLION。老板也在 AGM 说到他们有意收购欧美油气领域零件製造商,放眼在未来3年成为一站式服务供应商。公司计划收购欧美的零件製造企业,以获得相关科技和技术,除了藉机开拓新收入来源,也能降低成本,改善盈利表现。<br />
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目前,在大马交易所上市的众多油气股里,大多数的油气公司依然处在负本益比而且都面对亏损的惨局,即便是有盈利的油气公司本益比大都超过20倍。赚钱的油气公司也只有DIALOG(PE30)及YINSON (PE17) 而SERBADK是唯一一个公司在O&M SEGMENT里是持续盈利的,其他的公司像DAYANG, DELEUM, UMWOG, ICON及KNM的盈利大家有目共睹。那么现在的SERBADK有没有被低估,这里也让大家自己去衡量。最后也顺便送上一张关于油气行业的上中下游图表,好让大家对油气领域有更深的了解!<br />
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<span style="color: cyan;">张无忌</span><br />
<span style="color: cyan;">LIFEVEST</span>lifevesthttp://www.blogger.com/profile/12505975210946867676noreply@blogger.com1tag:blogger.com,1999:blog-5636583082398679377.post-14753558003197562522017-07-22T00:13:00.000-07:002017-07-22T00:16:37.322-07:00ML GLOBAL 将迎来新的一个里程碑? by 张无忌<div class="separator" style="clear: both; text-align: center;">
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<b><u><span style="font-size: 20.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">ML GLOBAL </span></u></b><b><u><span lang="ZH-CN" style="font-family: "simsun"; font-size: 20.0pt; line-height: 115%;">将迎来新的一个里程碑?</span></u></b><b><u><span style="font-size: 20.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;"><o:p></o:p></span></u></b></div>
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<b><u><span lang="ZH-CN" style="font-family: "simsun"; font-size: 20.0pt; line-height: 115%;"><br /></span></u></b></div>
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<span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">如果大家在近期都有留意新闻的话,你会发现越来越多中国建筑企业都跑过来马来西亚扎根,其方式分为</span>2<span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">种,一种通过政府的关系(中国交通建设</span>CCCC,
<span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">中国铁建</span>CCRC<span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">)。另外一种就是借助本地企业的力量,成立联合公司来包办一些建筑合约。首先我们可以看到最经典的例子就是闹得沸沸扬扬的</span>
VIVOCOM <span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">和</span>
CRCC<span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">的亲密接触及合作带给了股民们的无限遐想,接下来有来自</span>BINA
PURI<span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">和</span>CCCC
DREDGING<span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">在</span>KUANTAN<span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">联手发展高达</span>15<span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">亿的计划,还有目前我们可以看到股价波动非常厉害的</span>(JETSON
<span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">得到了来自</span>MCC<b><span lang="ZH-CN" style="background: rgb(248 , 249 , 250); font-family: "simsun";">中国冶金科工集团有限公</span></b><b><span lang="ZH-CN" style="background: rgb(248 , 249 , 250); font-family: "simsun";">司</span></b><b><span style="background: rgb(248, 249, 250);">) </span></b><span lang="ZH-CN" style="background: rgb(248 , 249 , 250); font-family: "simsun";">高达</span><span style="background: rgb(248, 249, 250);">900MILLION </span><span lang="ZH-CN" style="background: rgb(248 , 249 , 250); font-family: "simsun";">的合约但是现此合约不到一个星期已经被取消了</span><b><span style="background: rgb(248, 249, 250);">, </span></b><span lang="ZH-CN" style="background: rgb(248 , 249 , 250); font-family: "simsun";">再来我们可以看到</span><span lang="ZH-CN" style="background: rgb(248, 249, 250);"> </span><span lang="ZH-CN" style="background: rgb(248 , 249 , 250); font-family: "simsun";">(</span><span style="background: rgb(248, 249, 250);">SUNSURIA </span><span lang="ZH-CN" style="background: rgb(248 , 249 , 250); font-family: "simsun";">与</span><span style="background: rgb(248, 249, 250);"> CITIC </span><span lang="ZH-CN" style="background: rgb(248 , 249 , 250); font-family: "simsun";">中信建设)所组成的</span><span style="background: rgb(248, 249, 250);">JV company</span><span lang="ZH-CN" style="background: rgb(248 , 249 , 250); font-family: "simsun";">,还有在不久前进军房地产的(</span><span style="background: rgb(248, 249, 250);">PRG </span><span lang="ZH-CN" style="background: rgb(248 , 249 , 250); font-family: "simsun";">和来自中国绿地集团旗下的建筑公司</span><span lang="ZH-CN" style="background: rgb(248, 249, 250);"> </span><span style="background: rgb(248, 249, 250);">– </span><span lang="ZH-CN" style="background: rgb(248 , 249 , 250); font-family: "simsun";">江苏省建集团</span><span style="background: white;">China’s Jiangsu Provincial Construction Group </span><span lang="ZH-CN" style="background: white; font-family: "simsun";">)</span><span lang="ZH-CN" style="background: white;"> </span><span lang="ZH-CN" style="background: white; font-family: "simsun";">签下了策略性合作伙伴的</span><span style="background: white;">MOU</span><span lang="ZH-CN" style="background: white; font-family: "simsun";">。下图就让大家看一看这些公司的简介:</span><o:p></o:p></div>
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<span lang="ZH-CN" style="background: white; font-family: "simsun";">但是上面有几间公司是真的完全受益,我们暂时还没有看到,因为合约可能会告吹,合约可能会延期。所以这边大家必须多多留意。</span><span style="background: white;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="background: white; font-family: "simsun";">回到重点,今天我们继续讨论笔者一直追踪的</span><span style="background: white;">ML GLOBAL</span><span lang="ZH-CN" style="background: white; font-family: "simsun";">。才在</span><span style="background: white;">5</span><span lang="ZH-CN" style="background: white; font-family: "simsun";">月份</span><span style="background: white;">AGM</span><span lang="ZH-CN" style="background: white; font-family: "simsun";">时,老板有说过有意探讨</span><span lang="ZH-CN" style="background: white; color: #333333; font-family: "simsun";">中国预制混泥系统,但是老板说到做到而且马不停蹄的精神真的让我敬佩,</span><span lang="ZH-CN" style="background: white; font-family: "simsun";">最近</span><span style="background: white;">ML GLOBAL </span><span lang="ZH-CN" style="background: white; font-family: "simsun";">和中国</span><span style="background: white;"> SANY CONSTRUCTION ( </span><span lang="ZH-CN" style="background: white; font-family: "simsun";">三一集团</span><span style="background: white;">) </span><span lang="ZH-CN" style="background: white; font-family: "simsun";">签署了</span><span style="background: white;">MOU</span><span lang="ZH-CN" style="background: white; font-family: "simsun";">,</span><span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">建立合作伙伴关係(</span>JV<span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">),计划共同投入</span>3500<span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">万至</span>4000<span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">万令吉的资金,在中马</span>NILAI<span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">联营建设一座预製水泥墙板(</span>precast concrete panel<span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">,</span>PCP<span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">)工厂,而首相署部长拿督斯里魏家祥是观礼嘉宾之一。这举动将让</span>ML GLOBAL <span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">迈入另一个里程碑!</span><o:p></o:p></div>
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ML<span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">环球与三一將分別持有此联营项目的</span>51%<span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">与</span>49%<span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">股权。借助中国三一集团(</span>Sany Group<span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">)在工业化建筑系统(</span>IBS<span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">)方面的技术优势,</span>MLGLOBAL <span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">将正式转型採用</span>IBS<span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">,並希望在节省人力等长期利好的支撑下,可以得到除了母公司</span>LBS BINA<span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">林木生集团以外的更多订单,尤其是来自政府的工程。</span><o:p></o:p></div>
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<span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">老</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">板有说到公司冀望相关工厂可在接下来的</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">6</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">个月內落成,並在</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">2018</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">年首季结束前投產。</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">PHASE 1 </span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">的工厂</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">将</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">足以在</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">1</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">年內生產</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">2000</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">间公寓单位所需的水泥墙板,而首批產品將会先用在自家母公司,也就是</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">LBS </span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">的新项目位于</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">PUCHONG</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">的</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">SKYLAKE</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">。</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">此外,公司可以藉著</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">IBS</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">技术,继续专注在巴生谷区域建设可负担高楼住宅项目,而目前该公司每年需要建设逾</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">6000</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">间公寓单位,因此相关工厂一开始就会全力投產。公司期望</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">转型为</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">IBS</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">建筑业者的过程顺畅无阻,会採用按部就班的方式,逐步发展自家</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">IBS</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">生產业务。</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">老板也有强调虽然</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">IBS</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">可节省</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">50%</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">人力资源及</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">30%</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">建筑工时,並提升工程效率和减少建材浪费,但相关工厂短期內估计无法为公司显著节省成本,因人力成本的节省將被额外的运输成本抵消。不过,外劳薪金明年会再涨,加上国內建筑业目前面对劳力短缺问题,</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">IBS</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">將可长期惠及</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">ML</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">GLOBAL</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">,並使公司在同行间更具竞爭力。除此之外,当技术成熟及公司开始掌握所有流程后,将会大大增加公司盈利率。考量到物流成本,</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">PCP</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">工厂的业务覆盖范围有限,仅方圆</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">200</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">公里以內。所以</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">PCP </span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">建设在</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">NILAI </span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">是足覆盖巴生谷区域,若一切顺利,公司將会推出</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">PHASE 2</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">的联营</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">IBS</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">项目,包括在新地点建设新厂。</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">但是这个三一集团到底有什么来头呢?</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">三一集团为世界第</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">6</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">大重工业器材製造商,同时也是首家荣登英国《金融时报》全球</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">500</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">强与福布斯全球</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">2000</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">强企业的中国重型设备公司,本次合作对</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">ML</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">GLOBAL</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">来说是向前迈进了一大步。</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">而且根</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">据三一集团资料,该集团是中国最大的预製水泥建筑模块生產商,佔该国</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">50%</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">的市场份额。这也代表三一集团在这领域是相当强大的</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">!</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">中国那么大,那么多人口及屋子,可以占高达</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">50%</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">的市场是多么强大的一间公司!</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">笔者本身自己也研究了三一集团这间公司,阅读了这间公司的新闻及技术后,我只能说现在中国的产品不再是以前我们所想的劣等物品,而是技术涵盖非常高的高品质物品!这间由</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">4</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">位工程师所创立的公司在</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">1989</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">年创立,公司的成长也至使他们在</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">2012</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">年就收购了</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 11.5pt;">全球混凝土机械第一品牌</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">,来自德国的</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;"> </span></div>
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<span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">以下文章大家也可以看到公司对自家的技术非常有信息,而且中国多个企业都赞赏三一集团的产品及技术!</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;"><o:p></o:p></span></div>
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<a href="http://www.sanygroup.com/mtsj/4871.html"><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">http://www.sanygroup.com/mtsj/4871.html</span></a><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">其实三一集团在</span><span style="color: #333333; font-family: "calibri" , sans-serif; font-size: 11pt;">2007</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; font-size: 11pt;">年就进入大马市场,经过</span><span style="color: #333333; font-family: "calibri" , sans-serif; font-size: 11pt;">10</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; font-size: 11pt;">年的经营,已经在大马的销售已达到</span><span style="color: #333333; font-family: "calibri" , sans-serif; font-size: 11pt;">8</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; font-size: 11pt;">亿元人民币(</span><span style="color: #333333; font-family: "calibri" , sans-serif; font-size: 11pt;">4</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; font-size: 11pt;">亿</span><span style="color: #333333; font-family: "calibri" , sans-serif; font-size: 11pt;">8595</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; font-size: 11pt;">万令吉)。期间曾参与了吉隆坡第二国际机场、第一大港巴生港、</span><span style="color: #333333; font-family: "calibri" , sans-serif; font-size: 11pt;">SUNWAY
</span><span style="color: #333333; font-family: "calibri" , sans-serif; font-size: 11pt;">VELOCIT</span><span style="color: #333333; font-family: "calibri" , sans-serif; font-size: 11pt;">Y</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; font-size: 11pt;">等重点工程项目的建设,在当地已经树立起良好的品牌形象。而且在去年公司也参与了</span><span lang="ZH-CN" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #333333; font-family: "simsun";">参与</span><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #333333; font-family: "helvetica" , sans-serif;">“</span><span lang="ZH-CN" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #333333; font-family: "simsun";">一马房屋计划</span><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #333333; font-family: "helvetica" , sans-serif;">”</span><span lang="ZH-CN" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #333333; font-family: "simsun";">(</span><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #333333; font-family: "helvetica" , sans-serif;">PR1MA</span><span lang="ZH-CN" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #333333; font-family: "simsun";">),首个房建项目位于登嘉楼。</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; font-size: 11pt;">这些住房都将采用先进住宅产业化技术建设。为此,三一计划在大马来投资建设住宅产业化生产基地。</span><span style="color: #333333; font-family: "calibri" , sans-serif; font-size: 11pt;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="color: #333333; font-family: "simsun"; font-size: 11pt;">公司总裁唐修国表示,三一集团的住宅产业化项目,实质就是在建筑业发展新型工业化,用新材料、新技术、新装备和</span><span style="color: #333333; font-family: "calibri" , sans-serif; font-size: 11pt;">“</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; font-size: 11pt;">互联网</span><span style="color: #333333; font-family: "calibri" , sans-serif; font-size: 11pt;">+</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; font-size: 11pt;">等新思路,来改变传统的建筑业,进一步提高住宅的劳动生产率,提高住宅的整体质量,降低成本、物耗、能耗。从此对话可以看到三一集团在建材及建筑领域上面的知识及技术非凡,加上如果三一集团要把这项可负担房屋外包的话,</span><span style="color: #333333; font-family: "calibri" , sans-serif; font-size: 11pt;">ML GLOBAL </span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; font-size: 11pt;">肯定会从中受惠!</span><span style="color: #333333; font-family: "calibri" , sans-serif; font-size: 11pt;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="color: #333333; font-family: "simsun"; font-size: 11pt;">这边也顺带一提</span><span style="color: #333333; font-family: "calibri" , sans-serif; font-size: 11pt;">ML GLOBAL </span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; font-size: 11pt;">在不久前所成立的地基及地钻公司</span><span style="color: #333333; font-family: "calibri" , sans-serif; font-size: 11pt;">- MGB GEOTECH SDN
BHD, </span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; font-size: 11pt;">不久前也获得了来自</span><span style="color: #333333; font-family: "calibri" , sans-serif; font-size: 11pt;">SAMLING-EKOVEST JV </span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; font-size: 11pt;">的</span><span style="color: #333333; font-family: "calibri" , sans-serif; font-size: 11pt;"> PAN BORNEO HIGHWAY
</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; font-size: 11pt;">合约,价值高达</span><span style="color: #333333; font-family: "calibri" , sans-serif; font-size: 11pt;">RM 68
MILLION! </span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; font-size: 11pt;">续</span><span style="color: #333333; font-family: "calibri" , sans-serif; font-size: 11pt;">IKHMAS </span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; font-size: 11pt;">和</span><span style="color: #333333; font-family: "calibri" , sans-serif; font-size: 11pt;"> ECONPILE </span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; font-size: 11pt;">后,笔者相信</span><span style="color: #333333; font-family: "calibri" , sans-serif; font-size: 11pt;">ML GLOBAL </span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; font-size: 11pt;">会竞标得到更多类似的</span><span style="color: #333333; font-family: "calibri" , sans-serif; font-size: 11pt;">PROJECT</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; font-size: 11pt;">。</span><span style="color: #333333; font-family: "calibri" , sans-serif; font-size: 11pt;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">公司目前持有的订单价值</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">20</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">亿令吉,其中</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">80%</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">为林木生集团颁发的合约;而正在竞標的合约则价值</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">10</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">亿令吉。</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">老板也在最近的记者会暗示</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">隨著近期取得泛婆罗洲大道合约,公司相信类似合约將陆续有来。</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">另一方面,</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">ML</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;"> GLOBAL</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">与林木生集团董事经理丹斯里林福山透露,林木生集团未来的潜在项目发展总值(</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">GDV</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">)达</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">300</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">亿令吉,其中绝大部份高楼项目將会交由</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">ML</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">GLOBAL</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">以</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">IBS</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">技术建设。老板也强调公司不止会拿到母公司林木生集团的订单,</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">ML</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;"> </span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">GLOBAL</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">將放眼从外界,尤其是政府方面爭取更多工程合约。</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">以下列表是</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">LBS BINA </span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">未来的房屋计划:</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">为什么</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">ML GLOBAL </span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">会那么肯定自己可以得到政府的合约呢?如果大家仔细去观察年度报告,其实公司拿到很多政府合约比如来自</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">Yayasan Pelajaran Johor </span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">和</span><span lang="ZH-CN" style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;"> </span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;"> Tenaga
National Berhad</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">的合约。另外一个值得我们注意的事项就是虽然公司盈利还没完全复苏,但是许多基金都纷纷买入扎根了。</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">最近</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">ML GLOBAL </span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">的股价没有什么动静的原因应该来自</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;"> PRIVATE
PLACEMENT, </span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">为什么那么说呢?这里就简单解释什么是</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;"> PRIVATE PLACEMENT</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">,上市公司</span><span lang="ZH-CN" style="color: #1d2129; font-family: "simsun"; font-size: 11pt;">除了向银行借贷或发放</span><span style="color: #1d2129; font-family: "calibri" , sans-serif; font-size: 11pt;">Right issue(</span><span lang="ZH-CN" style="color: #1d2129; font-family: "simsun"; font-size: 11pt;">附加股</span><span style="color: #1d2129; font-family: "calibri" , sans-serif; font-size: 11pt;">)</span><span lang="ZH-CN" style="color: #1d2129; font-family: "simsun"; font-size: 11pt;">之外,私下配股是上市公司另一个方法去吸取额外资金的方法,当然这些资金都是为了公司日后的运作包括还债及扩充。私人配股就是配股给特定的投资者,通常开放给机构投资者或者拥有大批资金的投资者,而散户则没有机会买入私下配股的股权。这边就有</span><span style="color: #1d2129; font-family: "calibri" , sans-serif; font-size: 11pt;">2</span><span lang="ZH-CN" style="color: #1d2129; font-family: "simsun"; font-size: 11pt;">个原因导致股价下跌</span><span style="color: #1d2129; font-family: "calibri" , sans-serif; font-size: 11pt;">:</span><span lang="ZH-CN" style="color: #1d2129; font-family: "simsun"; font-size: 11pt;">其一是因为股票数量增加,公司的</span><span lang="ZH-CN" style="color: #1d2129; font-family: "calibri" , sans-serif; font-size: 11pt;"> </span><span style="color: #1d2129; font-family: "calibri" , sans-serif; font-size: 11pt;">EPS</span><span style="color: #1d2129; font-family: "calibri" , sans-serif; font-size: 11pt;"> </span><span lang="ZH-CN" style="color: #1d2129; font-family: "simsun"; font-size: 11pt;">就会被</span><span style="color: #1d2129; font-family: "calibri" , sans-serif; font-size: 11pt;">
DILUTE</span><span lang="ZH-CN" style="color: #1d2129; font-family: "simsun"; font-size: 11pt;">,也意味着公司需要赚更多的钱才能保持原有的估值;其二是因为</span><span lang="ZH-CN" style="color: #1d2129; font-family: "simsun"; font-size: 11.5pt;">私下配股的股价通常会比市价低很多,所以符合条件的特点投资者会在市场高价抛售股票,然后在私下配股买入较便宜的股票</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">。</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">下图我们可以看到</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">ML GLOBAL</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">这次的</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">PRIVATE
PLACEMENT </span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">大多都用在</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;"> WORKING CAPITAL :<o:p></o:p></span></div>
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<span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">笔者依然坚信这间公司的前景非常亮眼,不止可以得到来自母公司强大地库所带来的未来合约,及管理层说到做到及积极的扩展公司的</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">IBS </span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">技术来迎合政府在建设上大力鼓吹建筑公司使用</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;">IBS</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 11.0pt;">的转型计划,相信公司在未来可以达到非常强稳的财务报表。最后送上老板的照片,让我们来看看他会不会为股东带来最大利益及派发股息吧!</span><span style="font-family: "calibri" , "sans-serif"; font-size: 11.0pt;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="font-family: "simsun"; font-size: x-large; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;"><b>张无忌</b></span><br />
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lifevesthttp://www.blogger.com/profile/12505975210946867676noreply@blogger.com0tag:blogger.com,1999:blog-5636583082398679377.post-89950327809707866952017-07-13T06:07:00.002-07:002017-07-13T06:27:00.169-07:00苹果8 要来了,大马股市也受惠? by周伯通<div class="separator" style="clear: both; text-align: center;">
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<span id="docs-internal-guid-6d8d47f5-3bfc-1486-a2fd-3b3c34264511"><img alt="Image result for iphone 8" height="360" src="https://i.ytimg.com/vi/cjdFcGYWvos/maxresdefault.jpg" width="640" /><br /><b style="text-align: center;"><u><span style="color: red; font-size: x-large;">YOUTUBE视频:</span></u></b><iframe allowfullscreen="" class="YOUTUBE-iframe-video" data-thumbnail-src="https://i.ytimg.com/vi/nWavNPBD2o4/0.jpg" frameborder="0" height="266" src="https://www.youtube.com/embed/nWavNPBD2o4?feature=player_embedded" width="320"></iframe><br /><img height="153px;" src="https://lh5.googleusercontent.com/OZSN2TQ536FsFa85F40cTC5dqnfqIfrmWKkIQflI4ysM-BNST_nwga6wbHE5Dzq9mNLoKQGTdXYRytTlaPtTNOlCGCWryDS1XT-GDynCaZ5fvTJW574bTIk9UoKoaGMKU2GGUKyQjrg" width="555px;" /><br /><span id="docs-internal-guid-6d8d4810-3bfc-3edc-b832-1df7d6d79a47"><img height="221px;" src="https://lh4.googleusercontent.com/E_-dDIVHJGVoOf4DsUlT6rbCkW5qukb-2TGdD3dXr61pXxL5bNRsAk36U0wa5p6Gp3VnmwnvpBJfG2UTWk1T2nI8BLPbyeHwrdbS_mQMsXe1BP29nT5w3oEyAAMh73GTvTlzsZlhmUQ" width="740px;" /><br /><span id="docs-internal-guid-6d8d4810-3bfc-7547-00c9-b1cf0498e688"><img height="270px;" src="https://lh6.googleusercontent.com/Jrg8sbvNi0Vc3c8QFFtFaNg-DjyAJ4E56ZnoOEVM8vrgk_2hXmCxbdLkEnYEoAGAUMx2OVpqNVuxbZSiz3_zti1xQmxPOuoJ1T7BUvdiBizBQjiB-WAZDMklmkumPWz3ZDjEzSNL6Ak" width="505px;" /></span></span></span><br />
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<span style="background-color: #f5f8fd; color: #333333; font-family: "microsoft yahei"; font-size: 11.5pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: #f5f8fd; color: #333333; font-family: "microsoft yahei"; font-size: 11.5pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; font-family: "microsoft yahei"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">原来,iPhone的平均升级周期是三年,而目前iPhone 6系的保有量依然最高,达到28.1%,其次是6S,再次是iPhone 7。</span></span></div>
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<span style="background-color: white; font-family: "microsoft yahei"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">报告认为,这批iPhone 6用户的升级热情将带动iPhone 8的热销,所以他们对苹果的股票以及相关投资看好。</span></span></div>
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<b><u>苹果8 要来了,大马股市也受惠?
</u></b></span><span id="docs-internal-guid-6d8d4810-3bfe-067b-8201-39482e609b4a"> </span><span id="docs-internal-guid-6d8d4810-3bfe-067b-8201-39482e609b4a"> </span><span id="docs-internal-guid-6d8d4810-3bfe-2092-241f-d63fc5d83c5f"><img height="161px;" src="https://lh4.googleusercontent.com/TVxXOSOpJpJfxzhG0RQP4Cs5pDJ-s43Cn1j2XQxFa_1Wk6Q9OuHeV4vUi74QJ__hPzF9agTk5ms-cBW0IS5b5NUgysUo44-guzPvpR9_cjkZz1MikJp9747JNcQhSaJE7XErWbknnmY" width="457px;" />
</span><span style="font-family: "roboto"; font-size: large;">本地投行AFFIN看好INARI能够受惠于</span></span><span style="font-family: "roboto"; font-size: large;"><span style="white-space: pre-wrap;">苹果8的趋势,是因为INARI FY2016的营业额有<span style="color: red;">77%</span>是由BROADCOM单一客户所贡献的,而</span></span><span style="font-family: "roboto"; font-size: large; white-space: pre-wrap;">BROADCOM又是苹果的供应商。</span><span style="font-family: "roboto"; font-size: large;"><span style="white-space: pre-wrap;">
</span></span><span id="docs-internal-guid-6d8d4810-3bff-dfda-cfe4-2a378d4817ee"><img height="540px;" src="https://lh6.googleusercontent.com/4be0QG1QLOZP8tfWk2YXlsjVfraoEfkRk5_dFpKB4aPHbRPm9Da-Yr7FG0hYhVapGilf0unsg1FdhxyJ-4aTsRyTAWAJnyjkEurjNfWnIkhEorxfMOx16E3K7-pTCS9aJ6yAGEibeH8" width="858px;" /><br /><span style="font-family: "roboto"; font-size: large;"><span style="white-space: pre-wrap;">在近期马股交投情绪疲弱之下,INARI依然因</span></span></span><span style="font-family: "roboto"; font-size: large; white-space: pre-wrap;">苹果8的趋势而带动股价再创历史新高!
大家是否会遗憾错过了INARI呢?
其实还有两家半导体公司的主要客户也是</span><span style="font-family: "roboto"; font-size: large; white-space: pre-wrap;">BROADCOM,
A公司</span><span style="font-family: "roboto"; font-size: large; white-space: pre-wrap;">FY2016的营业额有<span style="color: red;">47.7%</span>是由BROADCOM单一客户所贡献的。</span><span style="font-family: "roboto"; font-size: large; white-space: pre-wrap;">
</span><span id="docs-internal-guid-d1fc4d21-3c0b-b5c3-d827-d55b18484183"> </span><span id="docs-internal-guid-d1fc4d21-3c0b-c413-c636-9d961ec4f6fe"><img height="177px;" src="https://lh6.googleusercontent.com/xywbUELWN8HU-mvvHX62pAmaFK_061K-F2ig2CEctKp6MIt-JSQs0b77QYZLTzdgK5UOcTzRQg8WP6DYq2kecE-FgaSxpU8xFu2-MBjMNoSQqFmdlMGYdfNIMQY5vrCnaIJryjzbpws" width="767px;" /></span><span id="docs-internal-guid-d1fc4d21-3c0d-70b2-afa8-4059337213de"><img alt="Image result for broadcom avago" height="216px;" src="https://lh6.googleusercontent.com/DUKUct0zBvLXekoGUJxlzZATvsJ9KicQO7xA1ZS5iMLxjqEVJcupbnUb5jwZhZRnuQ7vEbNITsHlvE9WhDSWkDBv_vHf1i0xmDDelabWuHz6nAdk2gwlXbBTwErKlitr-JL_Yum08hc" width="366px;" /></span><span style="font-family: "roboto"; font-size: large; white-space: pre-wrap;">
</span><span style="font-family: "roboto"; font-size: large; white-space: pre-wrap;">B公司</span><span style="font-family: "roboto"; font-size: large; white-space: pre-wrap;">FY2014的营业额有<span style="color: red;">47.86%</span>(而不参考FPE 2015因为不是整年数据)是由BROADCOM单一客户所贡献的。</span><span style="font-family: "roboto"; font-size: large; white-space: pre-wrap;">
</span><span id="docs-internal-guid-d1fc4d21-3c0b-3272-2c72-d7bb8a4f8676"><img height="335px;" src="https://lh4.googleusercontent.com/OGozUxmWjhNT9ABe1jUHyMU52h2bbXMXf1qsV2XYqgNH0oGLmtbb5i2oA_GKfgTvEjBF1H7aECCfkwDeHnBswCUOr8fr45hyCBfstKBapbeIUWSMcDeft2IaQ8HVLws3Tf9rhNt9Sbw" width="707px;" /></span><span style="font-family: "roboto"; font-size: large; white-space: pre-wrap;">
那他们有没有机会跟上INARI的步伐呢?让我们拭目以待
</span><span style="white-space: pre-wrap;"><span style="font-family: "roboto"; font-size: large;">
</span><span style="font-family: "arial";"><span style="font-size: 18.6667px;"><b>笔者</b></span></span></span></div>
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Simple Investinghttp://www.blogger.com/profile/07534303062433189556noreply@blogger.com0tag:blogger.com,1999:blog-5636583082398679377.post-50035136253346180902017-07-06T00:39:00.000-07:002017-07-06T00:42:57.376-07:00DESTINI –跟着航空股起飞的大选股 ( 张无忌)<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-layout-grid-align: none; text-autospace: none;">
<b><u><span style="font-size: 36pt;">DESTINI – </span></u></b><b><u><span lang="ZH-CN" style="font-family: "simsun"; font-size: 26pt;">跟着航空股起飞的大选股</span></u></b><b><u><span style="font-size: 26pt;"><o:p></o:p></span></u></b></div>
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<span style="font-family: "calibri" , sans-serif;">DESTINI, </span><span lang="ZH-CN" style="font-family: "simsun";">前身是一间濒临</span><span style="font-family: "calibri" , sans-serif;">PN17</span><span lang="ZH-CN" style="font-family: "simsun";">公司边缘的</span><span style="font-family: "calibri" , sans-serif;">SATANG</span><span style="font-family: "calibri" , sans-serif;"> , </span><span lang="ZH-CN" style="font-family: "simsun";">这间公司相信大家一点都不陌生。拿了再多的政府甜头,净利还是陷入亏损的</span><span style="font-family: "calibri" , sans-serif;">“</span><span lang="ZH-CN" style="font-family: "simsun";">傻蛋</span><span style="font-family: "calibri" , sans-serif;">”</span><span lang="ZH-CN" style="font-family: "simsun";">真的让人摸不着头。但是这个</span><span style="font-family: "calibri" , sans-serif;">“</span><span lang="ZH-CN" style="font-family: "simsun";">傻蛋</span><span style="font-family: "calibri" , sans-serif;">”</span><span lang="ZH-CN" style="font-family: "simsun";">多亏了这个白武士</span><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; font-family: "calibri" , sans-serif;">DATO ROZABIL<span class="apple-converted-space"> </span></span><span lang="ZH-CN" style="font-family: "simsun";">,把</span><span style="font-family: "calibri" , sans-serif;">“</span><span lang="ZH-CN" style="font-family: "simsun";">傻蛋</span><span style="font-family: "calibri" , sans-serif;">”</span><span lang="ZH-CN" style="font-family: "simsun";">变成了</span><span style="font-family: "calibri" , sans-serif;">“</span><span lang="ZH-CN" style="font-family: "simsun";">金鸡蛋</span><span style="font-family: "calibri" , sans-serif;">”</span><span lang="ZH-CN" style="font-family: "simsun";">。</span><span style="font-family: "calibri" , sans-serif;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">自从</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-hansi-theme-font: minor-latin;">DATO ROZABIL</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">在</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-hansi-theme-font: minor-latin;">2012</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">年购入这间公司后。就积极并购及改善公司的业务。</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-hansi-theme-font: minor-latin;">DESTINI</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">多年来透过一系列并购强化保养、维修与整修(</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-hansi-theme-font: minor-latin;">Maintenance</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">、</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-hansi-theme-font: minor-latin;">Repair and Overhaul</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">,</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">)能力,未来立志成为海陆空交通工具的</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">区域佼佼者。公司透过内部成长,同时也以并购方式来扩展业务。在</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-hansi-theme-font: minor-latin;">DATO ROZABIL</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">这双管齐下的做法让</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-hansi-theme-font: minor-latin;">DESTINI</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">起死回身,现在每年都赚钱,而且越赚越多!</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-hansi-theme-font: minor-latin;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">现在来简单介绍公司的业务:</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-hansi-theme-font: minor-latin;"><o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="color: #0c0c0c; font-size: 12.0pt;">1.<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]--><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt;">为航空,海运及</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt;">油气</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt;">行业的安全、生存及救援设备提供维护、维修及检修服务(</span><span style="color: #0c0c0c; font-size: 12.0pt;">MRO</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt;">)。</span><span style="color: #0c0c0c; font-size: 12.0pt;"><o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="color: #0c0c0c; font-size: 12.0pt;">2.<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]--><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt;">制造及交易救生艇,高压救生艇,高速救助艇,救生筏和组件,开</span><span style="color: #0c0c0c; font-size: 12.0pt;">/</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt;">关吊钩释放系统及相关零配件。</span><span style="color: #0c0c0c; font-size: 12.0pt;"><o:p></o:p></span></div>
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<span style="font-family: "times" , "times new roman" , serif;"><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt;">公司管理层在</span><span style="color: #0c0c0c; font-size: 12.0pt;"> DATO ROZABIL </span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt;">的带领下来了一个大洗牌,现在大多数的董事经理及部分大股东都是有政治背景的人物。因此</span><span style="color: #0c0c0c; font-size: 12.0pt;">DESTINI</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt;">与大马政府机构拥长期合作关系,在军事国防</span><span style="color: #0c0c0c; font-size: 12.0pt;">MRO</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt;">业务拥有至少</span><span style="color: #0c0c0c; font-size: 12.0pt;">15</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt;">年的专业经验。根据报章,</span><span style="color: #0c0c0c; font-size: 12.0pt;">DATO ROZABIL </span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt;">曾经就扬言要在未来年内把</span><span style="color: #0c0c0c; font-size: 12.0pt;">DESTINI</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt;">打造成市值过亿的企业。以现在市值</span><span style="color: #0c0c0c; font-size: 12.0pt;">820 MILLION </span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt;">的</span><span style="color: #0c0c0c; font-size: 12.0pt;">DESTINI </span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt;">来说,要达到过亿市值根本可能!</span><span style="color: #0c0c0c; font-size: 12.0pt;"><o:p></o:p></span></span><br />
<span style="font-family: "times" , "times new roman" , serif;"><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt;"><br /></span></span></div>
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<span style="font-family: "times" , "times new roman" , serif;"><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">现在我们来谈谈公司收购了那些公司,到底公司是怎么从</span><span style="color: #0c0c0c; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">INORGANIC WAY</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">成长。当</span><span style="color: #0c0c0c; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">DATO ROZABIL</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">进入公司后,就大胆的在</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">2012</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">年并购世界首屈一指的救生艇制造商的</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">Vanguard</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">复合材料工程有限公司</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">51%</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">的股权,现在已经是独资拥有该公司。下一年,立即又并购了</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">Techno FIBRE</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">集团旗下的子公司,使</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">DESTINI</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">踏入了航海维修的业务,又在同并购了</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">Samudra</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">油气公司而并入德斯迪尼油气服务公司。</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">2015</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">年则以</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">9</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">千万令吉,分别以</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">1500</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">万现款和发股方式融资并购德斯迪尼造船工程(</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">DSE</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">)公司。最后又收购了</span><span style="font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">Safeair Technical Sdn Bhd 80%</span><span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">的股权,</span><span lang="ZH-CN" style="font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;"> </span><span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">为商业航空提供维修服务。</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">2016</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">年</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">6</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">月</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">22</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">日,</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">DESTINI</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">与英国</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">Avia Technique</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">公司联营,以扩大业务至商务航空的</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">业务。该英国公司在防卫航空业务的维保整修乃至求生配备有广泛经验,并做好准备扩大业务至商业航空领域。公司预期亚太区未来</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">10</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">年有</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">3000</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">架新机需求,总价值达</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">1.9</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">兆美元,所以市场上还会出现很多订单,尤其是在现在这个大航空时代。</span></span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;"><o:p></o:p></span></div>
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<span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin; mso-no-proof: yes;"><v:shape id="Picture_x0020_9" o:spid="_x0000_i1035" style="height: 247pt; mso-wrap-style: square; visibility: visible; width: 342.5pt;" type="#_x0000_t75"> <v:imagedata o:title="" src="file:///C:\Users\User\AppData\Local\Temp\msohtmlclip1\01\clip_image003.png"> </v:imagedata></v:shape></span><span style="font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">目前</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-hansi-theme-font: minor-latin;">DESTINI</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">正在积极探讨区域航空与中国航空业的</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">业务。</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-hansi-theme-font: minor-latin;">DATO ROAZABIL</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">认为中国有很大潜能,有计划开发中国航空业的</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">业务。目前其航空</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">队伍正努力与中国航空公司磋商,以探讨</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">契机。尽管近期在航空</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">业务上,有传言</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-hansi-theme-font: minor-latin;">DESTINI</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">与</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-hansi-theme-font: minor-latin;">AIRASIA</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">联手并购</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-hansi-theme-font: minor-latin;">SAE</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">公司,但是它们在</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-hansi-theme-font: minor-latin;">2016</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">年</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-hansi-theme-font: minor-latin;">7</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">月间否认进行收购雪巴</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-hansi-theme-font: minor-latin;">SAS</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">子公司雪邦飞机工程(</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-hansi-theme-font: minor-latin;">SAE</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">)的磋商,进而提供商业客机</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">服务。</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-hansi-theme-font: minor-latin;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun-WinCharSetFFFF-H; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">现在我们来谈谈公司在</span><span style="color: #0c0c0c; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun-WinCharSetFFFF-H; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">ORGANIC WAY</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun-WinCharSetFFFF-H; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">的成长。这边笔者会分为日期来给大家看得更加清楚:</span><span style="color: #0c0c0c; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun-WinCharSetFFFF-H; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;"><o:p></o:p></span></div>
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<b><span style="color: #0c0c0c; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun-WinCharSetFFFF-H; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">2015</span></b><b><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun-WinCharSetFFFF-H; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">年</span></b><b><span style="color: #0c0c0c; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun-WinCharSetFFFF-H; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;"><o:p></o:p></span></b></div>
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<!--[if !supportLists]--><span style="color: #333333; font-family: "symbol"; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: "times new roman"; font-size: 7pt; font-stretch: normal; line-height: normal;"> </span></span><!--[endif]--><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun-WinCharSetFFFF-H; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">全属子公司</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun-WinCharSetFFFF-H; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;"> </span><span style="color: #0c0c0c; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">Destination Marine Services Sdn Bhd </span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun-WinCharSetFFFF-H; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">获大马海事执法局(</span><span style="color: #0c0c0c; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">APMM</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun-WinCharSetFFFF-H; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">)颁发一项总值</span><span style="color: #0c0c0c; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">RM381.30mil</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun-WinCharSetFFFF-H; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">,为期</span><span style="color: #0c0c0c; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">35</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun-WinCharSetFFFF-H; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">个月的合约,主要供应、交付、测试及试运作六艘巡逻艇。</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;"><o:p></o:p></span></div>
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<li><span lang="ZH-CN" style="color: #0c0c0c; font-family: "symbol"; font-size: 12pt; text-indent: -18pt;"> </span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12pt; text-indent: -18pt;">全属子公司</span><span lang="ZH-CN" style="color: #0c0c0c; font-size: 12pt; text-indent: -18pt;"> </span><span style="color: #0c0c0c; font-size: 12pt; text-indent: -18pt;">Destini Aviation Sdn. Bhd </span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12pt; text-indent: -18pt;">与</span><span style="color: #0c0c0c; font-size: 12pt; text-indent: -18pt;">AirAsia Berhad </span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12pt; text-indent: -18pt;">签署合作协议以为执行策略性外包活动进行最后谈判及实施计划,而该计划将在未来</span><span style="color: #0c0c0c; font-size: 12pt; text-indent: -18pt;">6-8</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12pt; text-indent: -18pt;">个月逐步实行。据分析报告指出,这项合作计划预期可为</span><span style="color: #0c0c0c; font-size: 12pt; text-indent: -18pt;">DESTINI</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12pt; text-indent: -18pt;">在</span><span style="color: #0c0c0c; font-size: 12pt; text-indent: -18pt;">FY18</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12pt; text-indent: -18pt;">每年带来约</span><span style="color: #0c0c0c; font-size: 12pt; text-indent: -18pt;">RM100mil</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12pt; text-indent: -18pt;">的营收</span></li>
<li><span style="color: #0c0c0c; font-family: "symbol"; font-size: 12pt; text-indent: -18pt;"><span style="font-family: "times new roman"; font-size: 7pt; font-stretch: normal; line-height: normal;"> </span></span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12pt; text-indent: -18pt;">接获内政部颁发一项总值</span><span style="color: #0c0c0c; font-size: 12pt; text-indent: -18pt;">RM10mil</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12pt; text-indent: -18pt;">,为期</span><span style="color: #0c0c0c; font-size: 12pt; text-indent: -18pt;">3</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12pt; text-indent: -18pt;">年的合约,主要为大马皇家警察空军(</span><span style="color: #0c0c0c; font-size: 12pt; text-indent: -18pt;">PDRM</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12pt; text-indent: -18pt;">)提供</span><span style="color: #0c0c0c; font-size: 12pt; text-indent: -18pt;">MRO</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12pt; text-indent: -18pt;">服务</span></li>
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<b><span style="color: #0c0c0c; font-size: 12.0pt;">2016</span></b><b><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt;">年</span></b><b><span style="color: #0c0c0c; font-size: 12.0pt;"><o:p></o:p></span></b></div>
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<li><span style="color: #0c0c0c; font-family: "symbol"; font-size: 12pt; text-indent: -18pt;"><span style="font-family: "times new roman"; font-size: 7pt; font-stretch: normal; line-height: normal;"> </span></span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12pt; text-indent: -18pt;">全属子公司</span><span lang="ZH-CN" style="color: #0c0c0c; font-size: 12pt; text-indent: -18pt;"> </span><span style="color: #0c0c0c; font-size: 12pt; text-indent: -18pt;">Destini Prima Sdn. Bhd. </span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12pt; text-indent: -18pt;">与高级军事维护、维修及检修中心(</span><span lang="ZH-CN" style="color: #0c0c0c; font-size: 12pt; text-indent: -18pt;"> </span><span style="color: #0c0c0c; font-size: 12pt; text-indent: -18pt;">AMMROC LLC.</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12pt; text-indent: -18pt;">主要为</span><span style="color: #0c0c0c; font-size: 12pt; text-indent: -18pt;">UAE</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12pt; text-indent: -18pt;">武装部队及全球航空客户提供</span><span style="color: #0c0c0c; font-size: 12pt; text-indent: -18pt;">MRO</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12pt; text-indent: -18pt;">服务)签署谅解备忘录</span><span style="color: #0c0c0c; font-size: 12pt; text-indent: -18pt;"> MOU</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12pt; text-indent: -18pt;">,主要提供制定商业案例的框架以便达成策略联盟或其他策略性协议,从而可针对特定客户提供飞机维护、维修及检修逃生系统。如果此计划落实,这将会为</span><span style="color: #0c0c0c; font-size: 12pt; text-indent: -18pt;">DESTINI</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12pt; text-indent: -18pt;">带来很大的合约订单,大家必须知道</span><span style="color: #0c0c0c; font-size: 12pt; text-indent: -18pt;">AMMROC</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12pt; text-indent: -18pt;">是全球最大的军事</span><span style="color: #0c0c0c; font-size: 12pt; text-indent: -18pt;">MRO</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12pt; text-indent: -18pt;">服务中心!</span></li>
<li><span style="color: #0c0c0c; font-family: "symbol"; font-size: 12pt; text-indent: -18pt;"><span style="font-family: "times new roman"; font-size: 7pt; font-stretch: normal; line-height: normal;"> </span></span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12pt; text-indent: -18pt;">全属子公司</span><span lang="ZH-CN" style="color: #0c0c0c; font-size: 12pt; text-indent: -18pt;"> </span><span style="color: #0c0c0c; font-size: 12pt; text-indent: -18pt;">System Enhancement Resources & Technologies Sdn. Bhd </span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12pt; text-indent: -18pt;">获交通运输部颁发一项总值</span><span style="color: #0c0c0c; font-size: 12pt; text-indent: -18pt;">RM62mil</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12pt; text-indent: -18pt;">,为期</span><span style="color: #0c0c0c; font-size: 12pt; text-indent: -18pt;">2</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12pt; text-indent: -18pt;">年德合约,主要为</span><span style="color: #0c0c0c; font-size: 12pt; text-indent: -18pt;">Keretapi Tanah Melayu Bhd. </span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12pt; text-indent: -18pt;">设计、制造、供应、交付、测试及试运作新型电机及新型铁路车辆。将其</span><span style="color: #0c0c0c; font-size: 12pt; text-indent: -18pt;">MRO</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12pt; text-indent: -18pt;">服务专业经验带入其他行业以便扩展其原有市场;以</span><span style="color: #0c0c0c; font-size: 12pt; text-indent: -18pt;">DESTINI</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12pt; text-indent: -18pt;">和政府机构的关系,料更多合约。</span></li>
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<!--[if !supportLists]--><span style="color: windowtext; font-family: "symbol"; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: "times new roman"; font-size: 7pt; font-stretch: normal; line-height: normal;"> </span></span><!--[endif]--><span style="color: windowtext; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">THHE Destini</span><span lang="ZH-CN" style="color: windowtext; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast;">私人有限公司是海上石油和天然气设施制造商</span><span style="color: windowtext; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">TH</span><span lang="ZH-CN" style="color: windowtext; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast;">重型工程有限公司(</span><span style="color: windowtext; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">THHE</span><span lang="ZH-CN" style="color: windowtext; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast;">)</span><span lang="ZH-CN" style="color: windowtext; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast;">和</span><span style="color: windowtext; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">Destini</span><span lang="ZH-CN" style="color: windowtext; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast;">有限公司的合资公司,获得政府价值</span><span style="color: windowtext; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">RM338.90mil</span><span lang="ZH-CN" style="color: windowtext; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast;">合同</span><span lang="ZH-CN" style="color: windowtext; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Microsoft YaHei"; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast;">,</span><span lang="ZH-CN" style="color: windowtext; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast;">为马来西亚海事执法局建造三艘海上巡逻船,配有配件和附件。</span><span lang="ZH-CN" style="color: windowtext; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;"> </span><span style="color: windowtext; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;"><o:p></o:p></span></div>
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<b><span style="color: windowtext; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">2017</span></b><b><span lang="ZH-CN" style="color: windowtext; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast;">年</span></b><b><span style="color: windowtext; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;"><o:p></o:p></span></b></div>
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<!--[if !supportLists]--><span style="color: windowtext; font-family: "symbol"; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: "times new roman"; font-size: 7pt; font-stretch: normal; line-height: normal;"> </span></span><!--[endif]--><span lang="ZH-CN" style="color: windowtext; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast;">以</span><span style="color: windowtext; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">RM5.5mil</span><span lang="ZH-CN" style="color: windowtext; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast;">收购军用直升机供应公司,</span><span style="color: windowtext; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">Halaman Optima</span><span lang="ZH-CN" style="color: windowtext; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast;">有限公司(</span><span style="color: windowtext; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">HOSB</span><span lang="ZH-CN" style="color: windowtext; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast;">)。此收购使得</span><span style="color: windowtext; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">Destini</span><span lang="ZH-CN" style="color: windowtext; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast;">能够为马来西亚军队国防部提供六架侦察直升机,合约价值总</span><span style="color: windowtext; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;"> RM321.9Mil</span><span lang="ZH-CN" style="color: windowtext; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast;">。</span><span style="color: windowtext; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt;">从上面的合约我们可以看到</span><span style="color: #0c0c0c; font-size: 12.0pt;">DESTINI</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt;">是多么的受政府宠爱。再来我们看一看</span><span style="color: #0c0c0c; font-size: 12.0pt;">30</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt;">大股东的排名,肯定会带给你一些惊喜!那些人物是谁就不必多说了,大家可以上</span><span style="color: #0c0c0c; font-size: 12.0pt;">GOOGLE </span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt;">去查一查,这些大股东买进,一定有他们的理由。</span><span style="color: #0c0c0c; font-size: 12.0pt;"> (BHP CAPITAL = DATO ROZABIL)<o:p></o:p></span></div>
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<b><u><span style="color: #0c0c0c; mso-bidi-font-family: SimSun-WinCharSetFFFF-H; mso-fareast-font-family: SimSun-WinCharSetFFFF-H;">TOP 30 SHAREHOLDING</span></u></b><span style="color: #0c0c0c; font-family: SimSun-WinCharSetFFFF-H; mso-bidi-font-family: SimSun-WinCharSetFFFF-H; mso-no-proof: yes;"><v:shape id="Picture_x0020_24" o:spid="_x0000_i1034" style="height: 385pt; mso-wrap-style: square; visibility: visible; width: 5in;" type="#_x0000_t75"> <v:imagedata o:title="" src="file:///C:\Users\User\AppData\Local\Temp\msohtmlclip1\01\clip_image004.png"> </v:imagedata></v:shape></span><span style="color: #0c0c0c; font-family: SimSun-WinCharSetFFFF-H; mso-bidi-font-family: SimSun-WinCharSetFFFF-H;"><o:p></o:p></span><br />
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<strong><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">现在我们就来谈一谈到底公司还有什么吸引我们去关注的事件呢?先从最让人兴奋的航空</span></strong><strong><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">MRO </span></strong><strong><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">开始说起吧。</span></strong><strong><span style="color: #333333; font-family: "calibri" , "sans-serif"; font-weight: normal;"><o:p></o:p></span></strong><br />
<strong><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;"><br /></span></strong></div>
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<strong><u><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">航空</span></u></strong><strong><u><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">MRO<o:p></o:p></span></u></strong></div>
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<strong><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">DESTINI</span></strong><strong><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">在不久前收购了相当不错的公司,</span></strong><span style="color: #333333; font-family: "arial" , "sans-serif";">Safe Air</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-bidi-font-family: SimSun;">,此公司每年处理地勤服务(</span><span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">为商业航空提供维修服务)</span><span style="color: #333333; font-family: "arial" , "sans-serif";">5</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-bidi-font-family: SimSun;">千航次,现在正与</span><span style="color: #333333; font-family: "arial" , "sans-serif";">4</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-bidi-font-family: SimSun;">潜在航空公司洽商潜在订单,其中一个为长远订单。若把这些潜在订单计算在内,每年处理之航班,将高达</span><span style="color: #333333; font-family: "arial" , "sans-serif";">6</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-bidi-font-family: SimSun;">万班。并可在两年内,创造达</span><span style="color: #333333; font-family: "arial" , "sans-serif";">2400</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-bidi-font-family: SimSun;">万令吉营收。</span><span style="color: #333333; font-family: "simsun"; mso-bidi-font-family: SimSun;"><o:p></o:p></span><br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjtdEaTePBJEDXWGmnZhridtOQIxpjbCuYP-BtrXZUJHbTa3BXydks-W2ITkU1oEKAdFKUSlXsHCRC29mqRaGNKfP6W4tEOuIC8Db17g5DsVmCC-wiR8gKZY7moWKDisfCxVEtv0fkOOiI/s1600/e%2527e.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="486" data-original-width="1116" height="173" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjtdEaTePBJEDXWGmnZhridtOQIxpjbCuYP-BtrXZUJHbTa3BXydks-W2ITkU1oEKAdFKUSlXsHCRC29mqRaGNKfP6W4tEOuIC8Db17g5DsVmCC-wiR8gKZY7moWKDisfCxVEtv0fkOOiI/s400/e%2527e.png" width="400" /></a></div>
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<a href="http://safeairtechnical.com/"> http://safeairtechnical.com/</a></div>
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<span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">Safe Air</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">公司目前的客户包括虎航、宿务太平洋(</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">Cebu Pacific</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">)、捷星(</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">Jetstar</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">)、香港快运航空(</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">HK Express</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">)。泰国航空(</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">THAIAIRLINE</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">)则在洽谈当中,嘉鲁达印尼航空(</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">GARUDA</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">)正待拍板定案。透过适当的布局,</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">Destini-Avia and Safe Air</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">已在德斯迪尼麾下,财力与技术能力兼具,放眼成为</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;"> MAHB</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">马航及</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">AIRASIA</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">亚航的策略服务提供者,并攫取工艺线保养与部件的</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">。</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;"><o:p></o:p></span></div>
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<strong><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">除此之外,</span></strong><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">DESTINI</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">旗下的</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">Avia Technique</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">公司</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">,</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">一间于英国知名航空安全监控的公司所组成的</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">JV COMPANY, </span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">已经获得</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">Part 145</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">认证,意味可处理飞机部件的</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">,可由之前专注的国有飞机</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">转往商业客机</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">。这里投资者必须知道,要获得欧洲宇航署(</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">EASA</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">)的认证不简单,而且需很冗长程序,这不像其他领域那般容易。</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;"><o:p></o:p></span><br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgQHLsa_xL5agr3l8vCrqLNX9gjMqFdMY5_JtkP2XrvjWcuL-QNtXUfyNOUBMW8OWJidZp9txTUolAowM91Y5nFMrNUVIDBGW3k7UOlr3sI2T4okC_7PseIF3LgB8224jjl4qs6_KJTYqw/s1600/f%2527f.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="531" data-original-width="1282" height="165" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgQHLsa_xL5agr3l8vCrqLNX9gjMqFdMY5_JtkP2XrvjWcuL-QNtXUfyNOUBMW8OWJidZp9txTUolAowM91Y5nFMrNUVIDBGW3k7UOlr3sI2T4okC_7PseIF3LgB8224jjl4qs6_KJTYqw/s400/f%2527f.png" width="400" /></a></div>
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<span style="font-family: "arial" , "sans-serif"; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast;"><a href="http://www.aviatechnique.co.uk/">http://www.aviatechnique.co.uk/</a></span><span style="color: #333333; font-family: "arial" , "sans-serif"; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast;"><o:p></o:p></span></div>
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<span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">DESTINI</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">的老板认为,有了</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">EASA</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">认证,预料将服务更全方位的航空</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">,贡献将会更加显著。公司不止可以与</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">AIRASIA</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">合作,公司还可以和区域内外的航空公司展开航空安全监控。大家千万不要忘记我们处在比美国及欧洲更加好的地理位置,单单东南亚就有很大的人口,加上印度和中国,简直不敢想象!亚洲里的航空公司数量与客机增长更具吸引力,因而公司会专注于本区域的</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">,未来也会放眼欧洲、中东等区域。</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;"><o:p></o:p></span><br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhYWq3xdaE8kNkvK9whuZhE-XHzIxTe23lu32c7JYk8DPBpS6K5rZJ9KZTmjLZ_K2cTuUc43WVWOHJFHcUhcjykG0ZFSrBVIjmJIFSRGyrE2KPh5EWXvVw-LjQe9KSlwAiPicJJmimZWwk/s1600/g%2527g.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="848" data-original-width="1352" height="250" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhYWq3xdaE8kNkvK9whuZhE-XHzIxTe23lu32c7JYk8DPBpS6K5rZJ9KZTmjLZ_K2cTuUc43WVWOHJFHcUhcjykG0ZFSrBVIjmJIFSRGyrE2KPh5EWXvVw-LjQe9KSlwAiPicJJmimZWwk/s400/g%2527g.png" width="400" /></a></div>
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<span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">现在商业航空</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">的首阶段,是要确保上述合作协议获得落实。但是在前年</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">, DESTINI</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">就已经和</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">AIRASIA</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">签署策略合作协议,以处理亚洲航空客机的</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">服务工程。这项协议包括技术处理、部件维保与整修(</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">)。加上有</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">AIRASIA</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">的第二号人物在</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">30</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">大股东里的加持,未来要从</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">AIRASIA</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">手中得到合约简直是如鱼得水。大家也要记得</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">AIRASIA</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">的雄心大计,成为亚洲航空界的龙头,看你相不相信</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">TONY</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">大哥的实力,到时</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">DESTINI</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">会趁着</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">AIRASIA</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">的崛起一起成长</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">!</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">老板也说到公司</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">目前正积极竞标国内商业航空的</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">工程,预计不久后会宣布。</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;"><o:p></o:p></span><br />
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<span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">大马政府预测</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">潜能无限,最近出台国家宇航业蓝图(</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">2015</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">至</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">2030</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">年),以发展大马成为东盟首屈一指宇航业</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">业务,预期贡献</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">325</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">亿令吉和制造</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">3</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">万</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">2000</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">个就业机会。</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">DESTINI</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">会不会因此受惠,指日可待!</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">另外,</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">DESTINI</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">与阿布扎比的</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">AMMROC</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">签署协议后,预料即将开始执行,并希望明年开始贡献,联同商业航空的</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">可开始贡献。</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">AMMROC</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">为军机</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">的首屈一指提供者,服务遍及南亚、中东与北非。如果此合约真的谈成,价值可是高达</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">10</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">亿至</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">11</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">亿的合约,绝对可以期待!老板有说到,公司会</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-bidi-font-family: SimSun;">进一步强化航空</span><span style="color: #333333; font-family: "arial" , "sans-serif";">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-bidi-font-family: SimSun;">,在防务的</span><span style="color: #333333; font-family: "arial" , "sans-serif";">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-bidi-font-family: SimSun;">能力方面,将扩大至包括防务机身、引擎、电讯系统、航电设备与武器系统。</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="background-color: white; color: #333333; font-family: "simsun";">也在不久前,</span><span style="font-family: "calibri" , sans-serif;">DETINI</span><span lang="ZH-CN" style="font-family: "simsun";">宣布和</span><span style="font-family: "calibri" , sans-serif;">SAPRES </span><span lang="ZH-CN" style="font-family: "simsun";">旗下子公司</span><span style="font-family: "calibri" , sans-serif;"> SAPURA AERO
</span><span lang="ZH-CN" style="font-family: "simsun";">联手成立</span><span style="font-family: "calibri" , sans-serif;">JV</span><span lang="ZH-CN" style="font-family: "simsun";">公司,以供它们开发更大的市场。此</span><span style="font-family: "calibri" , sans-serif;">JV </span><span lang="ZH-CN" style="font-family: "simsun";">是以</span><span style="font-family: "calibri" , sans-serif;">50</span><span lang="ZH-CN" style="font-family: "simsun";">:</span><span style="font-family: "calibri" , sans-serif;">50 </span><span lang="ZH-CN" style="font-family: "simsun";">的方式各公司得到一半的股权。此</span><span style="font-family: "calibri" , sans-serif;">JV </span><span lang="ZH-CN" style="font-family: "simsun";">对</span><span style="font-family: "calibri" , sans-serif;">DESTINI</span><span lang="ZH-CN" style="font-family: "simsun";">是正面的,因为如果大家翻查</span><span style="font-family: "calibri" , sans-serif;">SAPRES</span><span lang="ZH-CN" style="font-family: "simsun";">的</span><span style="font-family: "calibri" , sans-serif;"> REVENUE</span><span lang="ZH-CN" style="font-family: "simsun";">,最大的贡献是来自</span><span style="font-family: "calibri" , sans-serif;">AVIATION</span><span lang="ZH-CN" style="font-family: "simsun";">,</span><span lang="ZH-CN" style="font-family: "calibri" , sans-serif;"> </span><span lang="ZH-CN" style="font-family: "simsun";">这也代表它在航空方面的技术是绝对有能力的。相信此联营公司,是为了应付接下</span><span style="font-family: "calibri" , sans-serif;">AIRASIA那爆发式的成长。当然如果大家仔细观察,亚航 </span><span lang="ZH-CN" style="font-family: "simsun";">的脚步也没有停下,雄心勃勃的</span><span style="font-family: "calibri" , sans-serif;"> AIRASIA</span><span lang="ZH-CN" style="font-family: "simsun";">持续的在为它的</span><span style="font-family: "calibri" , sans-serif;">ASEAN</span><span lang="ZH-CN" style="font-family: "simsun";">梦而奋斗。</span><br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEje8eVKJ-0xlrsFEMEPKwwy7VCgTunyZozPaZcDzftjAnyuma9k3XQestWOK0ozT6kfVfX5eRdAAB4tQ8YrFIDAhiMH7d4M51M4uGNxYhbuUsJBCa-rW6Rwa_mhgFMNajRM6L6S8t_APhg/s1600/rr.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="458" data-original-width="960" height="190" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEje8eVKJ-0xlrsFEMEPKwwy7VCgTunyZozPaZcDzftjAnyuma9k3XQestWOK0ozT6kfVfX5eRdAAB4tQ8YrFIDAhiMH7d4M51M4uGNxYhbuUsJBCa-rW6Rwa_mhgFMNajRM6L6S8t_APhg/s400/rr.jpg" width="400" /></a></div>
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<b><u><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">造船业务</span></u></b><b><u><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;"><o:p></o:p></span></u></b><br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjTCpgap5Ydd3pkoiDzOHaRLSkrC2D0VkC5i0EcBLsTWLij9qd3CjH9SQzCGna6yXJ9AYGaWhVyLqvLzbNpCaXiYITGh1QqhobWiuBabVgIh3VGVXmOC8WA_8N4CJoOuIT3f7KpHXCEz-M/s1600/iii.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="810" data-original-width="1440" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjTCpgap5Ydd3pkoiDzOHaRLSkrC2D0VkC5i0EcBLsTWLij9qd3CjH9SQzCGna6yXJ9AYGaWhVyLqvLzbNpCaXiYITGh1QqhobWiuBabVgIh3VGVXmOC8WA_8N4CJoOuIT3f7KpHXCEz-M/s400/iii.jpg" width="400" /></a></div>
<b><u><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;"><br /></span></u></b></div>
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<span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">在</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">DESTINI</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">从</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">2012</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">年开始积极经营造船业务不仅提振盈利,亦使海事制造能力提升至有制造半海事船艇之能力。已经成为</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">DESTINI</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">独资持股的</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">Vanguard</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">公司,在中国南通有救生艇(</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">Lifeboat</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">)厂房,老板说到在中国有很多商业联号,会更倾向于在中国开发业务。受造船、航空</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">业务受烘托,其全年净利飙</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">56.5%</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">。</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">过去多年的布局与努力取得丰硕之成果。公司也刚得到</span><span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">为马来西亚海事执法局建造三艘海上巡逻船,配有配件和附件,价值高达</span><span style="font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">700 MIL</span><span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">,相信公司有了这次的经验后,会陆续争取类似造船订单。</span><span style="font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;"><o:p></o:p></span></div>
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<strong><u><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">铁路</span></u></strong><strong><u><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-bidi-font-family: SimSun;">业务</span></u></strong><b><span style="color: #333333; font-family: "arial" , "sans-serif";"><br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjNqnRkHgJUIc_bzGBEYvMK2u70DFnBd51HJQkRUDxDMpZ0JBTnrqKtbuV4qJ5z06Y8TuLbN2H04sPpVZi9-6gzK1sJ_Y4aMgYCXV3UZAqvLRFdBmmfdyb7ZvFWikluv4M8UN0KF4ekyho/s1600/j%2527j.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="479" data-original-width="1024" height="298" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjNqnRkHgJUIc_bzGBEYvMK2u70DFnBd51HJQkRUDxDMpZ0JBTnrqKtbuV4qJ5z06Y8TuLbN2H04sPpVZi9-6gzK1sJ_Y4aMgYCXV3UZAqvLRFdBmmfdyb7ZvFWikluv4M8UN0KF4ekyho/s640/j%2527j.jpg" width="640" /></a></div>
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<span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">DESTINI</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">在去年</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">6</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">月</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">20</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">日获交通部颁发总值</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">6200</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">万令吉火车项目,为马来亚铁道公司(</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">KTMB</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">)设计、制造、运送、测试和安装新的电车,以及轨道交通工具。这是</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">DESTINI</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">第一次接获铁路</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">的订单,也是一个很好的开始!</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">目前公司已经开始竞标</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">2</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">亿</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">5000</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">万令吉或更多的铁路交通的</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">工程,期望今年内能赢取更多合约。一旦在国内站稳脚步后,将会进军海外的铁路</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">相关工程。</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">老板有说到</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">在铁道</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">方面,目前与中国几个公司谈商,探讨必要的合作与大马契机。</span><span style="color: #333333; font-family: "arial" , "sans-serif"; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast;"><o:p></o:p></span><br />
<span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;"><br /></span></div>
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<span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">公司已经开始</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">在高铁</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">探讨契机,以迎娶未来将会建造的</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">HSR</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">高铁</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">的这块肥蛋糕。至于一般轨道</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">,有</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">KTM</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">的现有轨道,捷运线(</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">MRT</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">)和轻快铁(</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">LRT</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">)线的契机很多,公司也会逐步进军及计划。老板相信铁道</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">将是至少占数十亿令吉的市场,这是一个庞大数字。</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">公司将会努力成为</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">铁道</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">专精业者,这方面的</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">多样化,可以从引擎、空调、内饰、车厢、讯号等等。公司目前正在加强引擎与其他部件的专精工艺,目前仍不能说有哪些比较专精,这皆在循序渐进下逐步巩固和加强。相信紧随持续不断的努力,若干年后我们将有铁道</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">MRO</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">的全套专精技术,相信这会循序渐进加强。</span><span style="color: #333333; 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油气业务方面就平平无奇,最大的原因还是油价处于下坡,大多数的公司都积极 CUT CAPEX, 导致DESTINI 最近都没有接获什么工程。但是值得去探讨的是 DESTINI OIL 的客户大多都是重量级客户,如果油价回升,对 DESTINI 来说是一件好事。动态方面在前几天,DESTINI 在新加坡刚刚设立了一间子公司,也许是为了未来应付新加坡市场。总的来说,DESTINI OIL 虽然没有贡献很大的盈利,但是它也没拖累公司带来不必要的亏损。</div>
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<strong><u><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">总结</span></u></strong><u><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;"><o:p></o:p></span></u><br />
<strong><u><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;"><br /></span></u></strong></div>
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<span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">DESTINI</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">的负债率较低,净负债率为</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">1%</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">;融资都以所获工程作为后盾,没有周转、预支和期贷,谨慎管理财务。其刚刚在去年过去的凭单获得良好认购率,筹获</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">9600</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">万令吉。所以大家可放心在财务上的问题,最近可能大家会看到公司的</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">MARGIN</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">开始下降因为</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">DEPRECIATION</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">在作怪和公司必须先掏腰包买建造</span><span style="color: #333333; font-family: "calibri" , "sans-serif"; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-theme-font: minor-latin;">OPV</span><span lang="ZH-CN" style="color: #333333; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: SimSun; mso-fareast-theme-font: major-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">船的材料,加上</span><span style="font-family: "simsun";">马币贬值造成要进口的维修零件成本提高了</span><br />
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<span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt; line-height: 115%;"><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt; line-height: 115%;"><br /></span></span>
<span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt; line-height: 115%;"><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt; line-height: 115%;"><br /></span></span>
<span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt; line-height: 115%;">再来看看估值方面,公司在过</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt; line-height: 115%;">去的三个财政年度(</span><span style="color: #0c0c0c; font-size: 12.0pt; line-height: 115%;">FY14</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt; line-height: 115%;">,</span><span style="color: #0c0c0c; font-size: 12.0pt; line-height: 115%;">FY15</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt; line-height: 115%;">,</span><span style="color: #0c0c0c; font-size: 12.0pt; line-height: 115%;">FY16</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt; line-height: 115%;">)的市盈率(</span><span style="color: #0c0c0c; font-size: 12.0pt; line-height: 115%;">PE</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt; line-height: 115%;">)为</span><span style="color: #0c0c0c; font-size: 12.0pt; line-height: 115%;">29</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt; line-height: 115%;">、</span><span style="color: #0c0c0c; font-size: 12.0pt; line-height: 115%;">25</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt; line-height: 115%;">、</span><span style="color: #0c0c0c; font-size: 12.0pt; line-height: 115%;">28</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt; line-height: 115%;">,而平均值为</span><span style="color: #0c0c0c; font-size: 12.0pt; line-height: 115%;">27.3 </span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt; line-height: 115%;">倍。什么?你认为</span><span style="color: #0c0c0c; font-size: 12.0pt; line-height: 115%;">PE </span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt; line-height: 115%;">太高?我们看看其他国家的类似在服务</span><span style="color: #0c0c0c; font-size: 12.0pt; line-height: 115%;">MRO</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt; line-height: 115%;">的公司所得到的</span><span style="color: #0c0c0c; font-size: 12.0pt; line-height: 115%;">PE </span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt; line-height: 115%;">都是被标为超过</span><span style="color: #0c0c0c; font-size: 12.0pt; line-height: 115%;">20</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt; line-height: 115%;">的</span><span style="color: #0c0c0c; font-size: 12.0pt; line-height: 115%;">, </span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt; line-height: 115%;">尤其是像</span><span style="color: #0c0c0c; font-size: 12.0pt; line-height: 115%;">DESTINI</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt; line-height: 115%;">和政府那么关心密切的公司,应该值得更高的</span><span style="color: #0c0c0c; font-size: 12.0pt; line-height: 115%;">PE</span><span lang="ZH-CN" style="color: #0c0c0c; font-family: "simsun"; font-size: 12.0pt; line-height: 115%;">。</span><span style="color: #0c0c0c; font-size: 12.0pt; line-height: 115%;"><o:p></o:p></span><br />
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<span lang="ZH-CN" style="font-family: "simsun"; font-size: 12.0pt; line-height: 115%;">目前为止只有一家投行在追踪</span><span style="font-size: 12.0pt; line-height: 115%;">DESTINI, </span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 12.0pt; line-height: 115%;">那就是</span><span style="font-size: 12.0pt; line-height: 115%;">UOB KAYHIAN, </span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 12.0pt; line-height: 115%;">它给出的</span><span style="font-size: 12.0pt; line-height: 115%;">TARGET PRICE </span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 12.0pt; line-height: 115%;">为</span><span style="font-size: 12.0pt; line-height: 115%;"> RM 1.04</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 12.0pt; line-height: 115%;">。距离现在的</span><span lang="ZH-CN" style="font-size: 12.0pt; line-height: 115%;">价钱看起来</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 12.0pt; line-height: 115%;">好像还有肉吃,</span><span lang="ZH-CN" style="font-size: 12.0pt; line-height: 115%;"> </span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 12.0pt; line-height: 115%;">而且请留意投行所做出的</span><span style="font-size: 12.0pt; line-height: 115%;"> FORECAST EARNING</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 12.0pt; line-height: 115%;">,看起来</span><span style="font-size: 12.0pt; line-height: 115%;"> FY2017 </span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 12.0pt; line-height: 115%;">是</span><span style="font-size: 12.0pt; line-height: 115%;">DESTINI</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 12.0pt; line-height: 115%;">的丰收年。最近老板和董事开始积极回购公司的股票,是不是连他们都觉得公司被低估,还是有什么重大事件要来了呢?</span><br />
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<b><span lang="ZH-CN" style="background: white; color: #666666; font-family: "simsun"; font-size: 12.0pt; line-height: 115%;">如果大选真的要来临了,此公司能不能从中受惠?我们拭目以待!</span></b><b><span style="background: white; color: #666666; font-size: 12.0pt; line-height: 115%;"><o:p></o:p></span></b><br />
<b><span lang="ZH-CN" style="background: white; color: #666666; font-family: "simsun"; font-size: 12.0pt; line-height: 115%;"><br /></span></b></div>
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<b><span style="background: white; color: #666666; font-size: 12.0pt; line-height: 115%;">TRADE AT YOUR OWN RISK.<o:p></o:p></span></b></div>
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<b><span style="background: white; color: #666666; font-size: 20.0pt; line-height: 115%;">LIFEVEST<o:p></o:p></span></b></div>
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lifevesthttp://www.blogger.com/profile/12505975210946867676noreply@blogger.com1tag:blogger.com,1999:blog-5636583082398679377.post-42734855673721587632017-06-14T01:13:00.000-07:002017-06-14T01:47:31.541-07:00大马富豪谢松坤旗下公司-小而美的BOILERM by周伯通<div dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;">
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">大马富豪谢松坤除了有一家鼎鼎大名的QL上市公司(市值高达60亿令吉)为东协最大鸡蛋生产商,也是亚洲最大鱼糜(surimi)制造商,另外还有一家上市公司名为BOILERMECH市值只有5亿令吉。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="540" src="https://lh3.googleusercontent.com/Rhc3V33rCTGqqVl-M0WuO5mvnaps2Kg5ci049FEkoYinSz9srtRPmYfhxyrXst4qVBU6wLUU26z89caZ__Fre-FOOOu52ijxcLZI6wnfvgLjrs8EPG-yA8EzlNOgvZXDBLBeXKzn" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="443" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="301" src="https://lh5.googleusercontent.com/Axmv1P13Yh-7z7-ZI7XpqislHAT8tTVg-uH0UVoPEg6fiS15Q-7apwmd_sC8rbLfwMNUyCaKBoAOI_xYdpxN6IyTCEdzMOepHwTOJWwx9gYXzKVkZ85IpmWXpPcmql-x9nMU3GYf" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="163" src="https://lh4.googleusercontent.com/m9KFtOp7IVIUX5DXnc7rS6P3QM9SXh6k56z9lRvl_QGv2-DMrdYdj7axRDxpNY8nu06yze7f-b3Zu0EoEWIb6wt3nKaxP-2BVQ1AciWvr4jSLDXyn5aXkboIcfQRhcowDlnblSxh" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">BOILERM是QL老板的另一家公司,已由ACE MARKET转至MAIN MARKET,由谢松坤儿子谢立凯掌管</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="431" src="https://lh6.googleusercontent.com/1hcvcGtWtybqje2AvnX-GJa534OrQMO_MLXR0pHW9XyuSWpYqYcgvX7Wk0uK05tH0Eij1RxohBx03as33Oc1rn3OyUSCPhRgMGv7tmmmauJMykIfs3uqTxh0ws9xRnk4FOH5OjPA" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">公司拥有两大业务:</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">供应锅炉Boiler(占FY2017营业额贡献87% 或Profit before tax 14%)</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">锅炉的盈利主要是来自于棕油业者的新订单或10%的盈利贡献是来自于售后维修服务</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> </span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">供水处理业务(占FY2017营业额贡献13% 或Profit before tax 10%)</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">BOILERMECH的客户主要是棕油业者如KLK,SIME,GENTING PLANTATION,WILMAR等等大型的棕油业者。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="529" src="https://lh6.googleusercontent.com/jhx5mejOH-z9XHPirvvwJBGfeXEPB4uX84JfgjJwx-4QA1HRuBSMhl_Y836Omwd-kHr0G0HTHLgJDDSrK1ikzIV4Z_GxhFQF3wR9aGfbg_kCIWh6upuphtAYEGzR2vVjE99R9q57" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="465" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">公司的业务涉足的国家是印尼占营业额的50%和马来西亚占营业额的35%。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">在大马市占率高达60%属于Boiler界的龙头一哥,另外印尼的市占率也和当地最大的同行各占一半的市占率,但是BOILERMECH的锅炉技术是属于市场上最前端的。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">由于粽油园丘都属于在郊外所以需要一套自己自给自足的发电系统,而BOILER所提供的能源为生质能源(BIOMASS)</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="231" src="https://lh4.googleusercontent.com/DGfHlCNMgQSD--2DGK0tWvX50aDLdYyPbBYsu39nUYxr-bMhyFPXTUhZh_injrZfaDBFXMqxxf-4fWXSJQcO4XVTNL1LWqJMGVR_tJe0BjM_SglmEorXLhRHHPtqHe_I1ChtCwD6" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">生物质(Biomass)是指能够当做燃料或者工业原料,活着或刚死去的有机物。生物质能最常见于种植植物所制造的生质燃料,或者用来生产纤维、化学制品和热能的动物或植物。也包括以生物可降解的废弃物(Biodegradable waste)制造的燃料。 许多的植物都被用来生产生物质能,包括了芒草、柳枝稷、麻、玉米、杨属、柳树、甘蔗和棕榈树。[1]。一些特定采用的植物通常都不是非常重要的终端产品,但却会影响原料的处理过程。因为对能源的需求持续增长,生物质能的工业也随着水涨船高。</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="409" src="https://lh5.googleusercontent.com/_8NkZjpUd5VW4IbHnWUWWJT_rNSD28k-YzHsN20tTLb8sfaM58eiNx6FtTMi2sNLrpLXfOzm1ajRDEIix4c9xCcfI22QVz0q_bifUyw2e8oozzXX2W0YP-oydMWwfeztTjQaY-ws" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="546" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">生質能的好處,可以條列如下:</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">1.能源危機,減少對石油類能源的依賴,同時增加自產能源,有助於能源自給。</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">2.能的原料「生質」,可以說是取之不盡,用之不竭,而且隨處都是。</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">3.生質能即減少廢棄物對自然環境的污染,同時減輕垃圾污水及公害問題。</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">第二项业务:供水处理业务</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">在2016年3月份</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Proposed Acquisition by Boilermech Holdings Berhad of 698,287 ordinary shares of RM1.00 each representing 60.23% of the issued and paid-up share capital of Teknologi Enviro-Kimia (M) Sdn Bhd for a cash consideration of RM14,660,000.00.</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">BOILERMECH以 RM14,660,000.00 收购Teknologi Enviro-Kimia (M) Sdn Bhd </span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="367" src="https://lh3.googleusercontent.com/b_CR9nw98FAVJ0N1TLR087eno0Fe1-Ow89H3bpWSGkypb492ubSe1cXSTuwAGCe-DO-_1VbgGdLJTjIRfwqTyF6R2jAW4VHNftkuynEoZsuNb7KwISoLTx9fnY89q_6ld8HMS1m_" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="165" src="https://lh4.googleusercontent.com/zREixgYIp4FsAaJ5PsnJbnkhEgs-QwyCt6YRtmnj7SEDVPifI2bWrLJJNhd4oOiwgachYp8X_-vGVxv3IXeN66e8y1TGzNEWps02qiOtsYS373WgHEUAqNFq2r7QOA7prg-WSRnn" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">以Teknologi Enviro-Kimia (M) Sdn Bhd 过往的业绩来看,这RM14.66 million收购价能够获取每年赚取接近RM4.8 million(60%股权)等于RM2.88 million的净利,本益比只有5倍是个非常划算的交易,上述收购对集团核心锅炉和棕油业务具有策略性作用,集团认为水务管理工程是东南亚地区的长期成长板块,预计收购Enviro-Kimia科技将对未来业绩带来正面影响。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="272" src="https://lh6.googleusercontent.com/EwK1JdvimlDs4S71lXwjTS235JMilw03f-XlAV5ozRws5wrM9x-GzSDg_uL4JQHTzxp_uAv9MkaGiyU-tcwLsfzDu1pnFMl6O-HAAlfHxF_jqPNVNfUqEU7zKuhfJdA7gf4au7kL" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="491" src="https://lh5.googleusercontent.com/Sv92nAQUBw6uoazYPTpqNM4hGpL0jadYovPQ54v-EstfA8O0DrivroYsQhx-16FCNMw_vOPo7xRDKr-4AbrU1luwFMy9o7Dt3ETZEbnRyn0Lg3z3IrjZMLZFUR6XyJ7IklJg_QFg" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">过往业绩表现</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="333" src="https://lh4.googleusercontent.com/m_jY8u4EAeZAjapRbLC8W8FpZW3A3s-VPZB-sO_-btZSPOsT8Y4Q9MnDEYF2FntYIqjGKlUXD9Cp39s7R3zVoZyd_2RIwpx2cE2ePtdjJdjsoO-FUCgcX4aD5Wr2pUCr36bzLuJe" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="325" src="https://lh5.googleusercontent.com/uiBbBjEPQbRq9ExycqvWj8DYzSDlZXfXhF1wUTVIZ54sKTfOgOWN0n7oaELGbWfmOIR99ApL2cnzq2zS0Uvh7ZauCaBuxkAHme0e6b5KMr98JPpO4rb6AgIUfDeQDF-3YIya6zNt" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">我们可以看到BOILERMECH 自2011年上市至2015年的Return of equity都非常高保持在30左右以及业绩保持稳步增长,但是在2016年的业绩增长趋势开始出现放缓了。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">那为什么2016年的业绩会放缓呢?</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">FY 2016 –review</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">The strong US Dollar against regional currencies such as our Ringgit (“RM”) and Indonesian Rupiah (“IDR”) had resulted in a slowdown in demand for boilers, particularly from our major customer, Indonesia, hence affecting our revenue and profits. The strong US Dollar against regional currencies had slowed the demand for boilers from one of our biggest customer, Indonesia. Weak crude palm oil prices, slower demand for palm oil from major consuming country, China and the El-Nino induced drought which curbed palm oil production, had affected the palm oil market in the region and these in turn had affected the Group’s performance.</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">我们从年报得出4个关键因素导致FY 2016业绩放缓。</span></div>
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<li dir="ltr" style="background-color: transparent; color: black; font-family: Arial; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">USD/MYR(马币走势)</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">由于BOILERMECH的锅炉有50%以令吉计价和50%以美金计价,加上原料都用美元进口的,所以汇率的波动造成非常大的影响。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></div>
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<li dir="ltr" style="background-color: transparent; color: black; font-family: Roboto; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.38; margin-bottom: 16pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">USD/IDR(印尼盾走势)</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="405" src="https://lh3.googleusercontent.com/Oi1vRldsDt4OK5xLyZdHO-S8TJhx9GKuoRcEybIXLOUbBCY2g0IiS0NSbowFsRoS8NKooh9gS9cV4szFbmFp8h1amuoOUvDrbrr_jjZzWgcd_Qhl8Zu_1t8IID3bVDYoTrN7hr0M" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">由于美国升息之势导致美金非常强势,使得新型国家大量资金外流,也造成马币从2014的年尾USD/MYR 3.2贬至2015年尾USD/MYR 4.48,但近期汇率市场终于稳定下来了,自从TRUMP美国新总统上任之后强调美国必须把海外制造业搬回国内所以美金不能够再强势下去。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="63" src="https://lh6.googleusercontent.com/7DAfOF_xvvAn9sNXOMYHPXgyjVyIb8YTskvVtg91vX6m30dwRFXZ_jBgRWqdxAPRasz4c9loeRJBzxEo9yKn9-LqczgQWDZNGzrN3hCIf6cEtaqTbT8AQ-6owtcc9HIZA4luWGQo" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">“脆弱五国”中的四个国家货币涨幅已超越美元</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">May 12, 2017 </span><span style="background-color: white; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">被摩根士丹利(Morgan Stanley)称为“脆弱五国”(南非、巴西、土耳其、印度和印尼),因这些国家经济过于依赖外资,借款成本极受</span><a href="http://forex.jrj.com.cn/2007/12/212112535878.shtml" style="text-decoration: none;"><span style="background-color: white; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">美联储</span></a><span style="background-color: white; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">撤除QE影响,随着外国投资者撤离,本币受到巨大的贬值压力。</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">对此,彭博社日前却撰文称,纵观年内汇市的表现,这样的标签或许已可撕去!除土耳其里拉外,包括南非兰特、巴西里亚尔、印度卢比和印尼盾这“脆弱四国”的货币涨幅都已超越美元。如下图所示,南非兰特、巴西里亚尔、土耳其里拉、印度卢比和印尼盾 在2012年至2016年间的表现确实可谓“弱冠全球”,即便是表现最好的印度卢比,在这五年间兑美元的跌幅也超过了20%。不过,今年以来,这样的强弱格局已经出现了明显的转变。年内迄今除了土耳其里拉外,其他四国的货币兑美元均出现了上涨,印度卢比的涨幅更是超过了6%!</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="304" src="https://lh5.googleusercontent.com/rUQbuVxgyRKJ90DDCQk3lu0oYNPKKb0IPDJS8MhJD6jUTTqpldllwOckViLcSHbmW2QInj6qUj4lbKhv8TxfTjXh3c0AeItY-pmd8tDpEFPSJcc2dYM8DDY4JlZuaCBo3Q-UPn2D" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="575" /></span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></div>
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<li dir="ltr" style="background-color: transparent; color: black; font-family: Arial; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">FCPO价格</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="308" src="https://lh3.googleusercontent.com/0NoPHXHSNnP46aAurDPsuTxvv3s3BvS6Aid1hdOOqatehI213yeE8QekgMuCp5fMmGJ1XouvQQ5LBl547jKYNH5bDdcaNy-S3iOyZOJ4R9T_tAkR_M0UmyfRHIF5u9PQj3uaKWTQ" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">从上图我们可以看到红线(MA 240)年线的平均价格有重返上升趋势甚至突破2013年以来年线的平均值,管理层有透露FCPO价格只要保持在2000以上或更高那么粽油业者的资本开销信心会回来的届时BOILER销量也会随之提升,2015年FCPO价格一度跌破2000整数关卡是真的会搞到粽油业者的资本开销大大减少。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></div>
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<li dir="ltr" style="background-color: transparent; color: black; font-family: Arial; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.38; margin-bottom: 16pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">油棕PRODUCTION</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">在2014至2016所出现的厄尔尼诺现象使到全球的粽油产量大减25%以上,所以大家的收成都不好。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="425" src="https://lh5.googleusercontent.com/k2ts4CT04CZ666DcS5cvdahArFVGpIhONrBMus_z4mKJFLy8Ay3g8McPCMvVghM4rKPoPDpYV1R_W7AXG92lHN55lzl0V5JWIeYzB5hZKdcP_-Hf2PQEqf5aSiVqx1Q7C55l1tRv" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">好消息是以上这4个导致业绩衰退的因素已经在2017年开始好转了,管理层也认为他们已经渡过了这几年最艰难的时期,尤其是汇率+FCPO价格+天气在同一时间出现导致整个行业惨淡。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">估值方面</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">由于周期性的行业利用PRICE TO BOOK VALUE估值比较适合。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="111" src="https://lh6.googleusercontent.com/ve2FLsTqgEofsucCGK8MvvKFF1e8KX50-kJ06KgGbQRto45jXYNcHxzKIsgRKr2u8R1J1ZBw-RhAEdiE8mqZkR_-kXx1m0lFMNYr60lF6wlaXGY2C5LPlZyG8SUV3_HWWPUp2CVL" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">我们看回BOILERMECH 2011年上市时,它的Price to book value 是2.53倍。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="201" src="https://lh3.googleusercontent.com/DJm-mwxQ-Y6pjE69aJg_sYk1ZbAS95hCobJwDPlf_wiF3CrFIs8h_D3WIXueYXjeB4rPUsCSPHDmQKkwQOxDigTYPUJmPfH6ec9OFhYp2CsouMhyGg9pA62bgW0P2CZn0HQVyCQq" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="304" src="https://lh3.googleusercontent.com/WRPAVBHQ3G6nz4PRT2CawNxZh9rRYih1PsHBv5SlvwvnUGRAzQMh4T0SoIOfxLs9RhJ4oPfNqcYHnUgqWrW_gR4sS9d1deABGn_tn7tGt8luh1YzmY55d2wNG9ABDMaevTqVU9HO" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">从上图来看2017年1月24日股价一度跌到最低为RM 0.755 或Price to book value 是2.48倍,这创下2011年上市以来最低的估值,当时2011年KLCI指数只有1300点左右而已,反观2014年它的Price to book value 是高达7.27倍的,所以有低估的嫌疑</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="400" src="https://lh5.googleusercontent.com/NDphPLmqR-7vktdGVIORmHkw_VYaTbHe8UqOHcjI5qtIeX2iyVDserxgVc9tuveR2qn27SWEYKICL_E3I-SUBLS01EC8VIYbrQ3wwhu1hTvWZG-PZUqhAzu94q1OUnAeWfu1MuS4" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="296" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">所以我们可以了解管理层在2016的下半年开始频频在公开市场回购股票,管理层真金白银地总共花了RM 5.5 million左右,回购的价格范围是在RM 0.8 至RM 1之间。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="373" src="https://lh3.googleusercontent.com/ngUkcKUx9UYzxEvbqBWmPSUo8p3wO60odgDcxcJTg84WtgKBYbkbv3R7_3SywmoOy6ZmzwyG5Bw0di6jzvI5nCsshZ1lrg5k5geX5UEIoGrmeX4zAO9zshxGl-3DovFSPm3leHdo" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">据截止30 June 2016的年报指出,管理成总共持有Boilermech的股份高达63%加上近期在公开市场收购的股票有1%以上,所以持股比例已提高至64%++,这显得管理对公司的未来展望是非常有信心的。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">股息/红股派发</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="107" src="https://lh5.googleusercontent.com/aXqfpWX-s3bP0Ds6UusVBzzvzcxAx5XjkRveuyiysYSEC3uEXPcpAx37KqpH1VuB1NhQQDp-WDTEFp_5epNNeqkY1w7KsyK4v_oXLAwhoYdCD6njvH6VBbRnFax5_UL5tmI1hm_3" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">公司上市至今保持不间断地把20-30%+的净利用来派息回馈股东。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="132" src="https://lh5.googleusercontent.com/hyvXrXgkgaArwnERGPPA9A_ePlDyaAaNYR_OjVusCZZcZfokn7y286punYibpvnAAB6Q0k-0yYk4pUenbZowuSuxxCF0v0pC6NSA_enPMxWidTqrfagHI2RgxLhgieIERgZva4F3" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">也在2014年派发一送一红股来回馈股东。</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">资产负债表</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">CASH RM 64 MILLION VS LOAN RM 8.25 MILLION</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">NET CASH RM 55.7 MILLION / 10 SEN PER SHARE</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">这是一家净现金的公司,管理层也有提到不排除未来还会有收购的活动主要是垂直整合的方向,但好的收购机会可遇不可求啊。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">未来展望</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">管理层认为印尼将会是未来的发展重点,因为那里土地肥沃还有很多可开发棕油的地区</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">签棕油技术专利‧代理发电机 保绿美双管齐下推盈利</span></div>
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<div dir="ltr" style="line-height: 1.38; margin-bottom: 8pt; margin-left: 11pt; margin-right: 11pt; margin-top: 0pt;">
<span style="background-color: white; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Published by 南洋网 at 2015-10-07 11:39:00</span></div>
<div dir="ltr" style="line-height: 1.38; margin-bottom: 8pt; margin-left: 11pt; margin-right: 11pt; margin-top: 0pt;">
<span style="background-color: white; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">(吉隆坡6日讯)保绿美控股(BOILERM,0168,主板工业产品股)放眼通过一项15年协议的专利和一项谅解备忘录的独家代理权,推动公司未来盈利增长。</span></div>
<div dir="ltr" style="line-height: 1.38; margin-bottom: 8pt; margin-left: 11pt; margin-right: 11pt; margin-top: 0pt;">
<span style="background-color: white; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">根据文告,保绿美控股与联邦科学与工业研究组织(CSIRO)签署15年的合作协议,使用后者的超声波技术专利,来提高原棕油的榨取量。</span></div>
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<span style="background-color: white; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">CSIRO是澳洲政府旗下的国家级科技研究机构。</span></div>
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<span style="background-color: white; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">长期合作项目</span></div>
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<span style="background-color: white; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">保绿美控股能够使用该技术于不同国家的棕油厂房,包括大马、澳洲、巴西、加拿大、科特迪瓦、中国、哥伦比亚、厄瓜多尔、欧洲、印尼、印度、日本、韩国、墨西哥、巴布亚新几内亚、菲律宾、俄罗斯、泰国、乌克兰和美国。</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="433" src="https://lh3.googleusercontent.com/eZ-S7kBDBoa0Bxe51y6zJ81N1pd2wLeGCWo36OKSYyEfDc27-9KFKsnRM2lm93DTAvWEUenXKXqYXV203PxrOmqGDQJ7hXGLyfZ6rdJuB_zJxLZSpmodU04UM2kU3xlReeJUn6-C" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">另外还有这项超声波技术专利,是一个蓝海的市场也是最前卫的技术,所以公司还在收集数据和证明此技术给棕油业者看它的功效,希望年尾能够将此商业化。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">总结</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">拥有QL般的优质管理层</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">永续企业(老板理念是 棕油和环境保护是该公司注重的领域,且相信清洁能源和清洁用水是未来的趋势。)</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">尤其是欧洲的客户非常注重棕油业的环境保护</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="133" src="https://lh4.googleusercontent.com/XNT_4lZvZfRRIa48KuStjNlf3Wk1p_UFMhCcO3M1JwioSCRWYqig6-X5-hUyeRmhml-hll5K8zyr0bvx_E1T8_UqI9ZI6mALUqNP9E06tNF8md125ZSgjLtGfJXC6SaLCo9o8ztn" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> </span><a href="https://www.youtube.com/watch?v=LI4J4xXEuw4" style="text-decoration: none;"><span style="background-color: transparent; color: #1155cc; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">未来趋势-永续企业</span></a><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">视频</span></div>
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<li dir="ltr" style="background-color: transparent; color: black; font-family: Arial; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">过往表现(ROE)- 自2011年上市至2015年的Return of equity都非常高保持在30左右</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">业绩下跌因素-(</span><span style="background-color: transparent; color: #434343; font-family: "roboto"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">USD/MYR,USD/IDR,FCPO价格,油棕PRODUCTION)</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">这4个导致业绩衰退的因素已经在2017年开始好转了,管理层也认为他们已经渡过了这几年最艰难的时期,尤其是汇率波动+FCPO价格下跌+天气恶劣在同一时间出现导致整个行业惨淡。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></div>
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<li dir="ltr" style="background-color: transparent; color: black; font-family: Arial; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">估值(低P/B, 稳定派息20-30% PAY OUT RATIO,NET CASH per share 10 sen)</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">2017年1月24日股价一度跌到最低为RM 0.755 或Price to book value 是2.48倍,这创下2011年上市以来最低的估值,当时2011年KLCI指数只有1300点左右而已,反观2014年它的Price to book value 是高达7.27倍的,所以有低估的嫌疑。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></div>
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<li dir="ltr" style="background-color: transparent; color: black; font-family: Arial; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">前景</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">即将推出这项超声波技术专利</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">来提高原棕油的榨取量</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">,是一个蓝海的市场。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></div>
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<li dir="ltr" style="background-color: transparent; color: black; font-family: Arial; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.38; margin-bottom: 16pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">管理层加码</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">管理层在2016的下半年开始频频在公开市场回购股票,管理层真金白银地总共花了RM 5.5 million左右,回购的价格范围是在RM 0.8 至RM 1之间,总持股高达64%以上。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" />
<span style="font-family: "arial"; font-size: 18.6667px; font-weight: bold;">笔者</span></span></div>
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<img height="116" src="https://lh5.googleusercontent.com/I-y5q7fW1Ws-gJd7dYfXdgMd1folComhDkWm9xRCuF-D4qjztekbAwjFo7PSouR3nMG1yxo5RN1rHMy2oRQ2Gr5zoRFn1qPiEXq14SvSILA992-NIRnD-d_Xp6i09FdF-0bl8dJF" style="border: none; font-family: arial; font-size: 18.6667px; font-weight: bold; transform: rotate(0rad); white-space: pre-wrap;" width="251" /></div>
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Simple Investinghttp://www.blogger.com/profile/07534303062433189556noreply@blogger.com0tag:blogger.com,1999:blog-5636583082398679377.post-25967287366059020992017-05-25T20:10:00.002-07:002017-05-25T20:27:30.439-07:00Freight-一个被遗忘的物流股 by周伯通<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;"> 大马物流行业-下一个黄金商机</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img src="https://lh3.googleusercontent.com/REWWSl4oc82X8yb1_pttCd3eRbw26TP4b2wDTY_9ixpLM6lcpnMrrSHl4hzLxQfPM3lkJ9XfnwP-is9Zpyx-I0GYBcSyLNm-pL3z2MkBbD82vHAxOGZmu1BcXSyuDEgwzI7WTVCFz84ZUp_i_w" style="border: none; transform: rotate(0rad);" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">大马打造东南亚物流枢纽</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">在大马,我国政府已意识到,若要让国内电子商务取得更大的发展,物流业必须更具竞争力,因此我国港口的设施有必要进一步提升,加速进出口货柜的通关所需天数。</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">我国政府十分重视电子商务与物流领域当前及未来的发展契机与潜能。</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">基于地理位置或营运成本方面的优势,我国有望成为新加坡之后,东南亚区另一个重要的物流枢纽。</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">为了达到让大马成为“亚洲首选物流枢纽”目标,我国政府推出了《物流与贸易设施大蓝图》,针对有关愿景提供战略性框架与路线图。</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">我国交通部长拿督斯里廖中莱指出,在其领导下,交通部已成立一个跨部门的全国物流工作小组,监督该蓝图的进度与成果。该小组已拟定了5个策略领域,并设定了21个执行项目。</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">加强进出口港口设备</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">与此同时,我国有必要加强进出口港口的设备,增加港口以及加速货柜批准,因为这将影响销售海外商品,甚至有意销售我国产品至海外市场的我国电子商务领域的未来发展,也会导致海外投资者不愿投资外国电子商务领域。</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">uCustoms巴生港口网双管齐下</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">在科技的协助下,uCustoms和巴生港口网双管齐下,我国这个重要进出口港口的货柜文件提呈程序有望趋现代化,加速清关的所需时间,并可提高港口的营运效率。</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">我国政府已致力发展国内的多个重点港口,包括槟城、丹绒柏勒巴斯、马六甲及巴生港口,目前,巴生港口在全球港口中排名第12名,货柜吞吐量达到1100万个标准货柜箱,一旦提高营运效率与清关速度,政府预估有望在2020年之际挤跻身全球十大港口之一的排名之内。</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 24pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">Freight-一个被遗忘的物流股</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 24pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">为何这样说呢?是因为整个物流行业的表现里,Freight股价表现显得落后于同行</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">在大马股市里,拥有(海,陆,空)一条龙服务的物流股不多,他们分别是CENTURY,TASCO,FREIGHT</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="342" src="https://lh6.googleusercontent.com/AayeIEBZjLF1PXhsI95U7tnQAWptQtEMptvcdOBXoz2OBSHb3zJJsZrG6ERkVVFl1ivLvd4oAXAQbxCzII_icgJUga4esaCRVS77ICx58z1BW6qQhlnhqsT8JjCqSFSV1VjnAV6Zwnw5iPJG-g" style="border: none; transform: rotate(0rad);" width="640" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">截至2017年5月25日从上图大家可以看到自2017年初以来涨幅最高的是TASCO +80%,第二CENTURY +52%,最后是Freight +24%。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="344" src="https://lh5.googleusercontent.com/VJQByNzBlAK2dzYUTh1keng_TEYTZv6Qk-Jq1zOpd7stMOsgKHoU4N1J_9yZS6qf-AWz6dL8Zh9_ETTUUWhkwNIbhGmh8oJdkNtJNxXc9f_pEbrXEJV4UcRLRL10dNx-IrSmBagpP6G4z0kBBw" style="border: none; transform: rotate(0rad);" width="640" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">上图的红线为历史新高的阻力,我们可以看到CENTURY和TASCO已经频频突破历史新高,只有FREIGHT</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">距离历史新高的位置还有潜在29%的升幅空间</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">到了这个地步,大家一定很好奇FREIGHT没什么上升是否因为它的基本面不太好呢?</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img alt="https://lh5.googleusercontent.com/M7uJTbXgjGS9P4Pe_NTou_UZRAOFQU-hpXFRRo7H9CRXlGL2n1OSK_gdqx2fR_8jp9c2OZ45ogaN0RjuAb36INyeIQr8kkFIkquRapqo888--EsZYD_FUHRv7sLm7ybC2uL3buPjucE" height="440" src="https://lh5.googleusercontent.com/y15o9K6Xc9JpQHgBF9Qw7M3Sy4sZwdVtbhHKfRo8r6Hz8xULC1sOTdjl8NYBUoWqyvVmncJDeDkc3vvzZYhDsuZCiGPVQ07iDuwPL8eSmdbAz4G0EnYXYs07y_qC0oOEdbEJ22dQ1-Sak7f-tg" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">在2016年11月,FREIGHT是唯一个被</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">冷眼(大马价值投资大师)</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">所点名的物流股之一。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="133" src="https://lh4.googleusercontent.com/q8-tm98P4Kxdzsuzf3k7yPoJ_BjvWTS67mj0b9Ga5ZjElzlj5ZPaKF9A1jXBMwhPf8ZB5MP4F3ZbHOoX4TeKn0TAI1VhU-v-2R3Qb5k6HM3A5HXFH7op8HCuXPG2vkBE2HsnbuOFj0u-3b_-7w" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">估值方面,FREIGHT的PE和price to book value (P/B)也显得便宜于同行,另外FREIGHT可喜的是DIVIDEND YIELD 3.6%也属于同行里最高的。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">FREIGHT MANAGEMENT HOLDINGS BERHAD</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img alt="https://lh4.googleusercontent.com/flckTaasP4SdYTGzoRn1mvsjr0BXJy_2Ptr4xp4BUoqCMFBNCDkr2B5HAsr6rlEbXf-tVuOjmSQFXLaxZrxKVyi-hPCP7uKRKoNQaArXJfWgBQ2hoSUDYgZZwyWEU62wwwRwPvnArGA" height="270" src="https://lh5.googleusercontent.com/YKGEhC4lJwJreC3DEX09f8ZCUoYZPQ8QZZz7b0ZIAl-rXXHc1MTdWqRvPf97lAE6x8EAYL_fbK6UWBh4aHUTkVcNbftNuOjqBj-Lsd8nfhgtcIbLg7lsH_OSg3Lp6cT3g8spab5UgXYcbG5hLA" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="415" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">货运管理是由赵氏和他的妻子在1988年创办,当时它只是一家海上货运代理机构,以及雇用6名员工。现在,它拥有1000多名员工,并且提供多元化的服务,包括提供海陆空的货物运输服务。</span></div>
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<span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">货运管理(Freight Management Holdings)在2005年于大马交易所第二板上市(前称吉隆坡股票交易所),之后在2007年尾跃升至主板交易。它是一站式的物理服务供应商。</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">FREIGHT专注于利基市场</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">FREIGHT是大马上市公司里唯一一间专注于航运物流业务的公司,其他竞争对手是专注于第三方物流/出租仓库/最后一英里的运输为主。</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">这里简单介绍航运-航运业是世界上最为古老的行业之一,始于数千年之前。当今,其依然是主要的运输方式之一,占全球贸易的90%。</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> 1.航运占全球贸易的90%;</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> 2.最大的船的建造成本可达2亿美元;</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> 3.在全球,仅2%至10%的集装箱被检查;</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> 4.与卡车和飞机相比,航运是一种更加环保的运输方式;</span></div>
<div dir="ltr" style="background-color: white; line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> 5.通过海上运输一辆自行车和一罐碳酸饮料的平均费用分别为10美元和0.01美元;</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> 6.海上工作者的平均年薪介乎45000美元至65000美元;</span></div>
<div dir="ltr" style="background-color: white; line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> 7.在任何时候,2000万个集装箱正在海上运输;</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> 8.一艘集装箱船的主机的动力比一辆家用轿车大1000倍;</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> 9.最大的集装箱船可装载最多7.45亿根香蕉,耗费15000个集装箱;</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> 10.大型集装箱船最多可载运11000个集装箱的货物;</span></div>
<div dir="ltr" style="background-color: white; line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> 11.位于纽约和新泽西的美国东海岸港口占北大西洋贸易的逾三分之一;</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> 12.全球海员人数大约为150万名,其中菲律宾海员占大多数;</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> 13.大约三分之二的海员在开阔海域没有通信方式。仅10%具有免费网络可用。</span></div>
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<span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img alt="https://lh6.googleusercontent.com/4gRF8Mpe2CRaOE04L_v4C55kITxvF95fUk305OdEfWwgWabrwrCzo0iif8Fj7ZbEOHG5KcLW-jnC56NIp1dYPvVUOwJNLWDUKWFb194Ruwq2PD1zuh3pGKLE9FSUOB3KHy7PXdCzZUo" src="https://lh4.googleusercontent.com/dDaHdOxfNQ47U_FaTK769dOiWXYFIGc8P5mkFrbrzlFlLzAz48GzWSSTlRN8hTc9J5aefgWgoVq9OnJVEDK43FmNC6TCPwsbWvZcD5FWuzzJ1hzn4VtevaUQSVpuDl3QwjpNMCODaElARFCNQw" style="border: none; transform: rotate(0rad);" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">上图取自FREIGHT 2016的年报,大家可以看到航运业务占整体的营业额为63.5%。</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">相信各位读者第一个反应一定是”惨咯这几年海上航运吃蕉去了”</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">别担心,由于FREIGHT的管理层的经营方式是属于</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">轻资产业务模式</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> ,</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">与其他物流业的重资产商家比较,包括运输及仓库公司(较多固定资产,如汽车、仓库及设备),</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">公司主要从事货运服务(没有载体)</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">,是属于轻资产业务模式。像公司这类的货运服务商主要是为其用户安排船运及提供存储服务。 在大部分情形下,货运服务商不会负责运送货物。它们会把实际的送货行动交由多个承包商负责。视乎公司的规模,货运服务商可能会获得比个别人士或公司较优惠的收费。 除了安排运输外,货运服务商也会帮忙准备清关文件及其他所需文件,这是很繁琐的工作, 尤其是对国际货运公司来说。 轻资产业务模式的好处包括,在调整业务周期方面较具弹性(固定成本将会减少、规模较大,成本节省较多 (让公司的规模在不需要资本投资下扩大),资产回报一般上较佳(基底较低)及贷款较易控制。</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img alt="https://lh3.googleusercontent.com/nNWFuiM55qnAwJ3v8EzGXGpZsYdAlSN0Q4OMKttyft4JUmuNAhLgvjaB8p65ukrC6X3yBZZN_ZpGdS1Yp6VgsoFmqarnSYvx3j6gXB28btIxljdLPO0rLwTx9UdH1c05asw0hw4nSYE" src="https://lh3.googleusercontent.com/GQo62L2yqYaRr3wxyB-O-f4AHkder6rxYncXvhJZvwCFiW7TwCt-hFJuQ_it9LA0zQC1tp_2iNJJnhBmO7GjUl_0kZHyS2OeQ9GNJ1mxc0AYjfP9lW6H6anQQItRfaQc5g7qMzScaPmDvQzptg" style="border: none; transform: rotate(0rad);" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">从上图可见FREIGHT的航运是专注于LCL(Less than Container</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> Load), LCL服务的收入贡献一直在保持稳定的增长。</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img alt="Image result for less than a container" height="288" src="https://lh3.googleusercontent.com/rSnsjmPgAH8UeVXxHIvbbd1jBz1WghEQcm7FkHjK2hDDNtNZco84I7ygsC_oYI5ynna7dnqaLkNlnCXmeJKSw7JppWw7RPp76AVSf3VU8qaoeR5Q3bnPjYIJ_4i9ZWulResigfNfhxgKscyamQ" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">LCL业务独树一帜</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> </span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">公司提供的货运服务包括少过一个货柜 (LCL) 及一整个货柜 (FCL) 两种。 公司在LCL服务方面更是独树一帜。在2012年,估计其LCL</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">服务占了市场份额约30至35%</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">。标准普尔在2008年的一份证券研究报告指出, </span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">集团的LCL服务是属于开拓者</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">, 这是一个把不同顾客的货运整合在一个货柜内,跟单一客户占用整个货柜的FCL货运不同。 虽然LCL服务比较费时,但每TEU(20英尺标准货柜)收入较高,因此比FCL船运的毛利高。</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img alt="https://lh6.googleusercontent.com/F5Cs13fGCy6jqCYQ0oCJeWIR4dhI8Z4dADOuIiWrSQ7WeVnFzxZ6ytwjRRqmv4RRkN9-0IBvpr6aQOXBcPmHJO0GGLcISXZ5EtfANYP9qaIxmxEhAAO0Vmv1ZuLpd45QFm5lsgNddPg" src="https://lh5.googleusercontent.com/Uqno-SslcBWaP5c55LnXwbbH7jM-aPpS9XFfJlBoWGQUnKcDMOLSibm7DG_27bA1QtU2E3CR3eCNBB2Fl-QnIt3xQTFMzYebUnNkjQ-j5Ah87gR-vuoowo9shrNcY3ssCZ52iv5gAdQYcIqF0A" style="border: none; transform: rotate(0rad);" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">在大马网购时代的崛起,连中国最大的小商品批发城(义乌购)也提倡海运并且能提供免费运输,因为LCL的服务可以帮助各个中小企业的货品 “一同拼箱”在运往各个国家。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">业绩方面</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img alt="https://lh6.googleusercontent.com/q9Fi5v9WCyp-5I0xhGo4Io4YGhAboANC-jIAntGlwqeT8c9Qvf5icjFZ_FH-rNVwoKZ3-gM4xrZaTIT0uKLq2ZqIVwMUapsDRyQERO1V_nYwWI6XJYuuj1xPR5ZHLMsb2sabePmoDM0" src="https://lh5.googleusercontent.com/F6knySlcTgQU1ywzDFwSEnlCOvhw1cRXku89KlFozurTgcfDlav04PY_FWAZhjImD1ZGWgvdIMSlHczaUyOxcqiyziUmoxjhFIBZMNZyNCn5lqgtPpss4MRV9rsDr0m0ZFIBDlhNHtXxVU6EOA" style="border: none; transform: rotate(0rad);" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> </span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img alt="https://lh3.googleusercontent.com/YNj74pNmb7zoO-COxZXwZ38-lBb_1rgcrUL86vOQ2Haw_U309zEjBOk4mdHy8sA1lHQ-ZTPNx7qF27R66ATC1le84CuR7Lh-ugN-T_tPpf0Te7Zu1-uo0ZdQ-T3LAnpm-clZ-1jWdJQ" src="https://lh5.googleusercontent.com/X9XDIt-mqbhrVBKgqNy7kM3GIOfanbCSCcrIGsXR4Bd7YhH_95Wo8gSq4VWTxC54bkadj-Q9Fdmm8L5X-zEBhHVcgnHydOidbnqaRSqfobrMq-sB2aE1QJpczCv2N1IDXJ_AumnSyrzP7PYX1w" style="border: none; transform: rotate(0rad);" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">以上两张图表可以看到FREIGHT管理层控制成本的能力非常厉害,FY 2007至FY 2016的GROSS profit创新高的同时,GROSS MARGIN也一同创新高,这点是同行里表现最杰出的,不管得冷眼大师都称赞管理层如此优秀!</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img alt="https://lh5.googleusercontent.com/E3CB4zUvEqsJp1Porv7O9_NvCmlGeJwco4Bu37QL4GpiV47J7asofK7RXteAUz8rYrYF_tH_wwtQm1FeP4V24POd7KtQCLt2Etkq_IBhp3GT15cg3WExevCNFsdzO1BbEJ0kHjaS3sA" src="https://lh3.googleusercontent.com/RS9c6f6fdBA4YSaU-7S4JGD0gX6hIqm_lZ_yc3Vq1MCNfKrWvfIA9N7fWx5MaX9CP8eczlfXd1edcTCPj1Zk1v3-C-lkX0Uw-34Wq7cnsulTGC_-3LaQRo4lV49UOtisrPBMmcxYwOLbtn9foA" style="border: none; transform: rotate(0rad);" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img alt="https://lh6.googleusercontent.com/Jm3r4GMcABerj_J0R1D7Zo3hizNV3-fmLyvhSck7K7zp_rkSLd0kuMNx8RotTISG9UcorZCNTZqkB41RIlY3VUbGdr9N4WsMSXwU8xsHA73KxDOJa5S3Fsog7YMT3CnX6vTQXfU2904" src="https://lh3.googleusercontent.com/bJmJuSvS5usIQuJ6w2Puhv4Pw3RE8RsfbQ-d94BZPy0X8jpd0dUBh-tS0HVABOlLBreXnYt8v255Tw5fV_eFqL7LyZKaqEJXQaSwZ5EdVJ0jha2xmMCM1ttEo8ryYvQQhaE1KOyeHubwJsV3rg" style="border: none; transform: rotate(0rad);" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">不得不佩服FREIGHT的管理层能够在13年以来取得净利润高达11%的复利增长,虽然FY 2016 的净利与营业额失败持续创新高,</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img src="https://lh6.googleusercontent.com/Z2khqQsSigmCJhUq3A7EwW9gieLlq4a7lL10cJ87HQGcdblegTdMO88J0rfrFDYSRwUWEIbBIAkuRa7Cxsr2aYUeUWPwe4iEKKTX_yw97h_AjmTZFMY0YZpOjWFowL0KNLkpQUzuFTYWFGjEMQ" style="border: none; transform: rotate(0rad);" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">但FY 2017 Q2和Q3 的营业额再次重拾增长动力突破了单季度高达RM 110 million以上,</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">虽然净利润还没跟上,这是因为这几年FREIGHT不断扩充业务导致营运开销增加了,管理层表示这这是暂时的情况,待其他新的业务扭亏为盈的时候,净利也将重拾增长。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">管理层的对FY2017的看法</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Freight Management sees improved earnings in FY17</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Read more at </span><a href="http://www.thestar.com.my/business/business-news/2017/01/07/freight-management-sees-improved-earnings-in-fy17/#4SwrA5WWpylfmWhK.99" style="text-decoration: none;"><span style="background-color: transparent; color: #1155cc; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">http://www.thestar.com.my/business/business-news/2017/01/07/freight-management-sees-improved-earnings-in-fy17/#4SwrA5WWpylfmWhK.99</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></a><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">股息+红股派发</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img alt="https://lh6.googleusercontent.com/IqnmtvUZY8WB9gpmcOXxbysfpiyLLl4TEq9H0RWiopg9XKo4H6rYDzSrw4W71Q5Oxfke1mzr0OMRF22hFc0qtPIf-YvF5yEzUx14fzftfI5uLKXaW23n7czVcDNz1kdC6437tCZePB4" height="137" src="https://lh3.googleusercontent.com/UqcsmnW9Kaf6plPpjnwNLspab1zwpmdlC3wtmRmjx7PeLjA85GajVOut95Wp-pU5-oR3LOkGGa2-ipRV5JxN0FiEIp4cBn2KPVfWruq0f9jeOihtAXJFrl5nl7v-xQOfzrzVVjWnL7cSmYFfzA" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="549" /></span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Freight自FY 2005至今从不间断将30%以上的净利来回馈给股东,这是因为FREIGHT所有管理层所持有的股份高达69.35%,这代表管理层与小股东们同一阵线啊!</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="143" src="https://lh4.googleusercontent.com/bgjmvLz-bIFemtan8dvAw1VV0g1xZM5AWMMTmPfsdT9uLYxPj2V8LvfirsF_XhpBKemihqD-kHJYjoJM6bV6BvBqG5DjsXhymoVq2QPgs7NFL8tLnHZ2xbtcW5Oi8kUmuYox5G-v" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="535" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">2017Q3季度报告显示公司Retained Earning 大于股本1.6倍,拥有派发红股的能力。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img src="https://lh3.googleusercontent.com/NzQEZUiN2b50sgNhuZyZFs5WyImW4gkZpBe0pofhNvLT8uhAtIpm1QhKc2mENb1eApXI5ZcOcb6gDxasMt4MMoCfGNYHYi-Zpli5BKb8WhzdlNPBnNHbEJ6KpsumX_FvFy9gqg2y" style="border: none; transform: rotate(0rad);" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">从过往记录来看,FREIGHT曾经在2007年以每7股派送3红股以及相隔5年在2012年以每3股派送1红股+每5股送1凭单的企业动作来回馈给股东,如今再次相隔5年的2017年份管理层是否也会再次派送红股呢?让我们拭目以待</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">FREIGHT进军网购市场</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">兴业相信,货运管理的短期盈利增长将由大马贸易活动改善所推动。“长期盈利成长料源自于电商业务;尽管该公司在电商领域处于起步阶段,但是在2016年收购的Hubwire公司助力下,能够提供商家经销、仓库、物流及网上服务。”兴业预计,该公司的海空运业务营业额将大幅增加,拖船及驳船业务则达到收支平衡,因此上调2017至2019财政年财测,介于0.5至10%。“未来两年净利料可以录得13%复合年均增长率(CAGR),比过去4年平均增长3%还要好。”综合以上,兴业上调货运管理评级至“买进”,目标价也从1令吉30仙升至1令吉70仙。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">关于</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">FREIGHT所新收购的HUBWIRE详细报道-网络热潮席卷商界小资公司寄望网购物流赚大钱</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><a href="http://sharesinfo4u.com/archives/37410" style="text-decoration: none;"><span style="background-color: transparent; color: blue; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">http://sharesinfo4u.com/archives/37410</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></a><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">大家可以上</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">FREIGHT</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> 网购中介公司的网站看看</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><a href="https://hubwire.com/" style="text-decoration: none;"><span style="background-color: transparent; color: #1155cc; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">https://hubwire.com/</span></a><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img src="https://lh5.googleusercontent.com/-NC7vnDQ4mdoUtth7wQ8BbToUE2e0rJdE-MjvYYI0rjLdj61agKh1wU8Qgsswla3M3Gn32-X2e9fwgVesAOF00oqswUQoZaRuddMsI1OcX8sfMZQfelAS_4sqUHGgVggLrJcJTm6" style="border: none; transform: rotate(0rad);" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">这公司主要是帮传统企业从线下走到线上的网路行销平台, 他们的客户有以下的知名品牌等等</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="163" src="https://lh4.googleusercontent.com/YV1ZcWyo6vAYXvzl5ehJQezWYpoTdGw6liga21UjzizgH_G7pjeNqILbRyvyzBbMycBA98sHZsfWNvM3dPfXSwrsU_T9gWdw0gMlq499fwf1jSTGUlNt9nj5nQv9ZUnIB11kqMUVE2NvfkyXkg" style="border: none; transform: rotate(0rad);" width="640" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> 新收购的hubwire能够与现有的业务形成协同效应,从FREIGHT的海陆空运+仓库+一条龙的网路平台行销渠道</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="234" src="https://lh3.googleusercontent.com/y8NCxgqB32BdR1bSMnJZO6i1KFgfLltYcm-Rdk7JLwzXwyNQADvHVfcnS5fUS65DYzdvq3VR5hLbfJ_Gu0-ebMDpofTuZzD5F36rwKmEJFC_Z-MuNdisKI0OpO3uj9JKLRzcohWhI1rh-zTwVw" style="border: none; transform: rotate(0rad);" width="623" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">以上图表除了显示HUBWIRE所有大马的网购合作伙伴,右下角也显示了最后一英里运输的业务的合作伙伴,这里有一个亮点!!就是Freight也进军了最后一英里运输的业务。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">在8-May-2017</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> ,</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Freight-成立 Parcel To Post Services Sdn. Bhd.准备进入市场非常看好的"快递业务",这也是大马上市公司第一间从物流业正是进入快递业的一个里程碑。</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">走势图与Price to book value的相关性对比</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img src="https://lh4.googleusercontent.com/HD_docIiROemcLUS9mk30iMWbdsgoyeRCNztTzTT0dh6-H-aOdXeZ7nO6SNBTnTGCa62_dveo0eOZkIbfwERpbP9NTJTKL_dvUQrJGUDR2vMwCN0QUX350gYnQsGTDzxFyfaw_MM" style="border: none; transform: rotate(0rad);" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">从上图来看,Freight的股价在2008年次贷危机时股价跌到最低点的price to book value最低是0.82,就在2016年下半年Freight的股价的price to book value再次回到0.85属于当时次贷危机的底部范围</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="561" src="https://lh4.googleusercontent.com/emZdgMONkY0EzL1-oDZmmtcP0IECHnZnLwwnNgpxri8tJQBRevO2kQYUFx3crrzJdFb5JmeuqGc2Op2qBVtXnJMwD2sLyrnCO_8Eyhr68DHHAHKSLTmVbiCwyJk0JL31xkfBiYa_" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">加上管理层在今年3月3日以RM 1.18在公开市场买入100千units或等于价值RM 118,000的股份,</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="396" src="https://lh3.googleusercontent.com/8P_CgWBwvYu_cV6XgKErS57mZVKdfPkPhEqR9piafmqUGMNHghyEmTrUHP_7-Rs57XhsDZhdzrXOmJn_ufyuGNLykjIYYJnNKmt5quS_fa2Ldd0h3nU0uJhs1ZxUJaj6IrO7uphN" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">所以笔者的认为RM 1.1至RM 1.2之间就属于底部范围了,截至2017年5月25日Freight的price to book value也只有1.05属于偏低。</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img src="https://lh3.googleusercontent.com/NKdEcs136wGthxNQyMKYmIdQQu1riU5RD1AuQtu7DAll4EGYtahYhe4hjM2hSCoOKeniKg0ygsk2hJJ8owBv_F0JCgffzDwV25fxwb53tWtORWn4EiIDOCCCQqMvjAoaemQfZw0g" style="border: none; transform: rotate(0rad);" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">最后公司每个季度的业绩都能稳定地为每股净资产带来增长,所以股价迟早也会被一个稳定资产增值给推升,只要FREIGHT这几年所扩充的新业务成熟后就能使公司净利赚幅回到正常的水平了。</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">总结:</span></div>
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<li dir="ltr" style="background-color: transparent; color: black; font-family: Arial; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">FREIGHT拥有长达13年的业绩增长的稳定表现,另外</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">管理层控制成本的能力非常厉害,FY 2007至FY 2016的GROSS profit创新高的同时,GROSS MARGIN也一同创新高,这点是同行里表现最杰出的,不管得冷眼大师都称赞管理层如此优秀!</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></div>
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<li dir="ltr" style="background-color: transparent; color: black; font-family: Arial; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">属于</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">轻资产业务模式</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> ,与其他物流业的重资产商家比较,包括运输及仓库公司(较多固定资产,如汽车、仓库及设备),</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">公司主要从事货运服务(没有载体)。</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> 轻资产业务模式的好处包括,在调整业务周期方面较具弹性(固定成本将会减少、规模较大,成本节省较多 (让公司的规模在不需要资本投资下扩大),资产回报一般上较佳(基底较低)及贷款较易控制。</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></div>
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<li dir="ltr" style="background-color: transparent; color: black; font-family: Arial; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">所有管理层所持有的股份高达69.35%,这代表管理层与小股东们同一阵线</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></div>
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<li dir="ltr" style="background-color: transparent; color: black; font-family: Arial; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">自FY 2005至今从不间断将30%以上的净利来回馈给股东</span></div>
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<li dir="ltr" style="background-color: transparent; color: black; font-family: Arial; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">2017Q3季度报告显示公司Retained Earning 大于股本1.6倍,拥有派发红股的能力</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></div>
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<li dir="ltr" style="background-color: transparent; color: black; font-family: Arial; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">在8-May-2017</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> ,</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Freight-成立 Parcel To Post Services Sdn. Bhd.准备进入市场非常看好的"快递业务",这也是大马上市公司第一间从物流业正式进入快递业的一个里程碑。</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></div>
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<li dir="ltr" style="background-color: transparent; color: black; font-family: Arial; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">新收购的hubwire能够与现有的业务形成协同效应,FREIGHT的海陆空运+仓库服务+快递业+一条龙的网路平台行销渠道</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></div>
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<li dir="ltr" style="background-color: transparent; color: black; font-family: Arial; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">FREIGHT专注于利基市场,是大马上市公司里唯一一间专注于航运物流业务的公司,其他竞争对手是专注于第三方物流/出租仓库/最后一英里的运输为主。</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></div>
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<li dir="ltr" style="background-color: transparent; color: black; font-family: Arial; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">航运业是世界上最为古老的行业之一,始于数千年之前。当今,其依然是主要的运输方式之一,占全球贸易的90%。</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></div>
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<li dir="ltr" style="background-color: transparent; color: black; font-family: Arial; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">2016年尾Freight的price to book value再次回到0.85属于当时次贷危机的底部范围,管理层在今年3月3日以RM 1.18在公开市场买入</span><span style="background-color: white; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></div>
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<li dir="ltr" style="background-color: transparent; color: black; font-family: Arial; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">只要同行TASCO和CENTURY的股价与估值不断地提升,那么显得FREIGHT的潜在上升空间越大。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">笔者</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="116" src="https://lh5.googleusercontent.com/I-y5q7fW1Ws-gJd7dYfXdgMd1folComhDkWm9xRCuF-D4qjztekbAwjFo7PSouR3nMG1yxo5RN1rHMy2oRQ2Gr5zoRFn1qPiEXq14SvSILA992-NIRnD-d_Xp6i09FdF-0bl8dJF" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="251" /></span></div>
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Simple Investinghttp://www.blogger.com/profile/07534303062433189556noreply@blogger.com0tag:blogger.com,1999:blog-5636583082398679377.post-71827189346137435532017-05-15T20:49:00.000-07:002017-05-15T20:49:24.413-07:00中国的崛起,只是KGB的开始?<div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 22pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">Kelington Group Berhad (KGB)</span></div>
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<span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">科艺集团(KGB)陈立于2000年,</span><span style="background-color: white; color: #444444; font-family: "simsun"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">主要业务来自高纯度气体化学(</span><span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">UHP</span><span style="background-color: white; color: #444444; font-family: "simsun"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">)供应系统的建造及设计工作</span><span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">。</span><span style="background-color: white; color: #444444; font-family: "simsun"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">高纯度气体又是电子及半导体工业和医疗必需品。</span><span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">2009年在马股创业板上市,并在2012凭着杰出的表现,转为主板上市。UHP传输系统,是帮助 “高科技领域” </span><span style="background-color: yellow; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">管理高危及有害原料的系统</span><span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">,藉此保障安全性和生产回酬。客户有谁呢?在广乏应用于微型電子设备制造领域的晶圓(wafer)、太陽能電板、液晶荧幕、触式屏幕等高科技产品的生产过程中,UHP传输系統是非常重要的一環。因为UHP delivery systems 涉及了hazardous gases and chemicals </span><span style="background-color: transparent; color: black; font-family: "simsun"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">(比如</span><span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">: flammable, toxic, corrosive or asphyxia</span><span style="background-color: transparent; color: black; font-family: "simsun"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">),顾客通常都会找</span><span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Track record</span><span style="background-color: transparent; color: black; font-family: "simsun"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">非常好的公司来帮他们设计并建造此系统。</span></div>
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<span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="382" src="https://lh4.googleusercontent.com/ruXSd4dM3iGJzqxXa2NW7RyLAe8_3AzsiG0jCBsjkRsz1SggPxg4mLXQCPOg7qhvXvnj3gtFtmTr3VIKFMh78p1MrvFi7BhfG0f9K2t4EAJxlgXZW2KRLLrdy3rwpCcXOTpljsEFJr0wc4Z2Tg" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="561" /></span></div>
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<span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">自2002年首次进军海外至今,KGB成功在新加坡、中國和台灣打下业务基础,服務种类和領域也逐渐多元化,涉及到油气及天然气,医疗和食品。这也确保了公司不会依赖单一领域。這樣的发展趋势提升了该公司争取新订单的机会。</span><span style="background-color: transparent; color: black; font-family: "simsun"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">如果大家看一看</span><span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">KGB</span><span style="background-color: transparent; color: black; font-family: "simsun"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">的客户群,全部都是重量级公司,尤其是可以获得台积电(</span><span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">TSMC</span><span style="background-color: transparent; color: black; font-family: "simsun"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">)的青睐,真的不简单!</span><span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">过后公司也迈进了其他业务,比如为土建和架构工程提供机电工程服务和</span><span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">工业气体供应。</span></div>
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<span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">像KGB这样的企业,业务表現往往会根根据经济或领域週期波动。尽管多数科技行业在过去数年一直低迷,但是KGB除了在2013年及2015业绩略逊色外,其余財政年业绩和订单一直都相對稳定,反映出该公司杰出的執行和竞争能力。但是</span><span style="background-color: transparent; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">为什么在2012年至2015年公司的GROSS PROFIT MARGIN一直下跌? 这是因为公司为了把自己的公司名字擦亮来巩固公司在市场上的地位,不惜压缩自己的盈利率来争取订单。加上科技领域或半导体领域的下跌周期,导致公司盈利率大幅下降。而且公司眼光也放得远,进军在台湾和新加坡这营运环境竞争激烈的市场,大家必须知道台湾和新加坡业者当时在半导体上是姣姣者,市场庞大,所以我认为公司是选对地方而攻入的。</span></div>
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<span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="308" src="https://lh5.googleusercontent.com/CIatcGoZbs3QtiH9SvfYX7e2d0Y4rsYZnS0Rb5ro5Zvnc3uDcSqqZWaXjaoS_9YhZN0Sr39coqjGg7qyFJkFFSaUDE2KFU3Zaof-VnYFTQjb198B-qjVFpyDtAfUYdmP6U-PQWhoNQNAzuofxA" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="602" /></span></div>
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<span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">在此笔者也简单介绍这个UHP delivery system ,可以分成3个阶段:</span></div>
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<span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">首先就是Base build也就是建设整个工厂的基本排气和输气系统,算是“Backbone “ of UHP delivery system;</span></div>
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<li dir="ltr" style="background-color: transparent; color: black; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: disc; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">再来就是Hook-up,Hook-up就是把管道安装好到那些需要特别气体的Process Tools上,也称作Last-mile delivery system;</span></div>
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<li dir="ltr" style="background-color: transparent; color: black; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: disc; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">最后就是Maintenance,也就是我们所说的 Technical support.</span></div>
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<span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">那么有些投资者就会好奇这个生意是可以长久的吗?如果市场上全部的UHP delivering system都建好了,不是没有生意做了?这件事大家大可放心,因为像KGB这样的公司是绝对会受惠 的!大家可以看到科技这门生意就是要不断的进步及进化,才能打败对手。尤其是Wafer Fabrication的市场,每个厂家都在争自己的奈米技术越来越强,多么精简化。加上现在消费市场对无限通讯和电话市场的依赖,导致制造商大笔扩增产能来应付这庞大的市场。这里也送上在网上所搜寻到英文版的解释:</span></div>
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<span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Industry benefiting from shorter tech life cycles, which</span><span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> </span><span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">necessitate reinvestments in key sectors like wafer fabrication (planting circuit) and FPD fabrication (glass substrates). Rapid changes in manufacturing technologies and unabated demand for innovative consumer electronics, i.e. widespread use and continuous innovation of wireless and portable communication devices, and increased demand in LCD TV continue to render more projects for the Group.</span></div>
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<span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">介绍完公司的背景后,现在来说一说为什么我对这间公司的前景感到有兴趣,为什么这间公司上涨了那么多还要看呢? 这边就依依像大家解答!</span></div>
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<li dir="ltr" style="background-color: transparent; color: #444444; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">想必大家都看到很多半导体股票比如PENTA,VITROX,UNISEM,INARI及MPI的股价都纷纷上升。这就是因为半导体和电子产品领域销售在去年开始已经强势复苏!相关价值链自然将会同步受惠,简单来说就是现在半导体就在上升周期!投资者现在冲破头都想从这些半导体公司中得到一份羹</span><span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">。KGB也会因此受惠,未来我们会看到KGB获得更多订单!最重要的是中国想要在半导体的领域挂旗,每间半导体公司都纷纷扩充,势必取得地位来打败长久以来被台湾和美国的半导体公司!已经在中国扎根的KGB 会不会因此受惠呢?</span></div>
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<span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img alt="Image result for made in china 2025" height="315" src="https://lh4.googleusercontent.com/peo7gXKEqmoKABIe6sUfS7X2DOAk0IZELYrqgJMQWpho_r90k3Ux4SOi215NbY-vlGdww0lXM3OBlQI174I90SnSlgIuq4-TPMw4CWbrHTLKEbfeL8UkEekUdQ6dnKShauWDd8_bS6D7jXU2ow" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="528" /></span></div>
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<span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">也在公司的Presentation Slide里面,我们可以看到公司也在竞标着来自GLOBAL FOUNDRIES在中国设立工厂的项目: </span></div>
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<a href="http://www.gochengdu.cn/news/business/global-foundries-to-build-production-facility-in-chengdu-a4362.html" style="text-decoration: none;"><span style="background-color: transparent; color: blue; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">http://www.gochengdu.cn/news/business/global-foundries-to-build-production-facility-in-chengdu-a4362.html</span></a></div>
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<span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="443" src="https://lh6.googleusercontent.com/RKbzgt6jnUjks_EzNpmEjXn9jrtPJoqS4Xhz_deRhG3ya9NGpWOrG8jijOi5rK6NAWN4hzzQCBIVQoZX7AIsdML_p6uocbtIexlibr7KZXF2RssJhRv1lrh8oRUDyCaV_Q_EYliDbVcmW5Cf3g" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="602" /></span></div>
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<li dir="ltr" style="background-color: white; color: #444444; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">公司业务多元化后,新合约应该会大幅度增加。而且近期公司所买入的新公司 HITI ENGINEERING 的来头可不小,HITI的全部客户都是非常有名的半导体制造商!HITI的业务主要为高科技领域公司设立冷却设备,输管链接及制造</span><span style="background-color: white; color: #545454; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">无尘实验室 (Cleanroom), 这又在进一步的帮助公司完成一条龙服务,让客户省掉寻找其他厂家来设立工厂的麻烦!</span></div>
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<span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="259" src="https://lh6.googleusercontent.com/vUnloOtnOlfOnpcntbAY_-ivBVcCyX2tne26cNulQUTseOVs7RgP1JzWgNkDc60zBw6Eh0w7zTWmjdRw4Gdf74bwKZvYU3ezfk0SUqCzreiSjy0NIDqqCb0-MoC8gdQu_msz3f1FFJvxhStPyA" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="447" /></span></div>
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<span style="background-color: transparent; color: #555555; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">此外,KGB也正积极开拓海外市场,在早前进军菲律宾和印尼后,目前开始探索</span><span style="background-color: yellow; color: #555555; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">越南和缅甸</span><span style="background-color: transparent; color: #555555; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">市场。开拓海外市场是科艺集在2016财年的策略,老板希望海外业务对营业额的贡献,能够从现有50%提高至超过60%。老板也透露现在会着重于提升GROSS PROFIT MARGIN,至少超过12%及PROFIT AFTER TAX不少过5%!</span></div>
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<li dir="ltr" style="background-color: transparent; color: #444444; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: #555555; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">就是公司在去年成立的新业务,</span><span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Ace Gases Marketing Sdn Bhd</span><span style="background-color: transparent; color: #555555; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">,这项业务是建设并提供</span><span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">工业气体给</span><span style="background-color: transparent; color: #555555; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">相关公司。这新业务又再一次辅助了KGB现有的生意模式,在这里可以看到老板想要一口气拿完一间高科技工厂所需要配件的全部事项包括建设,设立,提供,检验,维修及等等好让那些客户依赖它,KGB的野心及服务真的让人赞叹。</span></div>
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<span style="background-color: transparent; color: #555555; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="358" src="https://lh4.googleusercontent.com/Kgjkkwg6NAxg5XIpIWa1Q36iJohpH-x1U77p4R2lkL0vUiN46wY4ffb0FDzjiB0nLqIPnGqkRK4zDXRa8s5Jp8LUNhVMi1YwPEd99TPur2wKZFGkiDEiC3vAB2RpYY7--cYzshzFrp5ADTPfeQ" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="509" /></span></div>
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<span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">就在今年4月,KGB获得了一</span><span style="background-color: white; color: #444444; font-family: "simsun"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">项合约,为</span><span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Hanwha Q Cells</span><span style="background-color: white; color: #444444; font-family: "simsun"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">位于雪兰莪州赛城的厂房内建立一个氮气制造机。</span><span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Hanwha Q Cells</span><span style="background-color: white; color: #444444; font-family: "simsun"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">是全球最大的太阳能电池和模块制造商之一,并在制造过程中使用氮气。</span><span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Hanwha Q Cells</span><span style="background-color: white; color: #444444; font-family: "simsun"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">将在</span><span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">10</span><span style="background-color: white; color: #444444; font-family: "simsun"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">年内支付约</span><span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">2000</span><span style="background-color: white; color: #444444; font-family: "simsun"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">万令吉,作为定期设施费用。这是该集团首个工业气体供应合约,并将为集团带来稳定和经常收入来源</span><span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">。相较于以往只是个单纯以项目为主(project-based)的承包商,这导致KGB现在的净利能见度会更加清晰。</span></div>
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<li dir="ltr" style="background-color: white; color: #444444; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">如果大家仔细阅读,KGB在2015开始面对IMPAIRMENT LOSS 的亏损,这也是因为在2015年ACCOUNTING TREATMENT有所改变,导致公司必须纳入这些亏损。现在公司现在有2个LAWSUIT CASES。一个是来自TAIWAN’S HUI NENG MECHANICAL & ELECTRICAL ENGINEERING CO 及 AUSTRALIAN MARINE TECHNOLOGY PTY LTD。赔偿金如下:</span></div>
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<span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="217" src="https://lh5.googleusercontent.com/4BuawL3P-nogHXFkCZhQFj-_MZXm0mPmyrg62iOTHr9nbFDcPLWUqsp8eSg4z5hHeYlAZK6Z7EuSo92SZw9LPkSa_OLJAqCgXISKoVY8vgaskIE8XU_C4XmOP2_CsFqDSkubzHefbehy0qEEnQ" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="602" /></span><img height="17" src="https://docs.google.com/drawings/d/sJWyw6dntk8oT9hmkjzdJSA/image?w=405&h=17&rev=1&ac=1" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="405" /><img height="17" src="https://docs.google.com/drawings/d/sNxhZ4PT3ZTRZlz2YMDwvSA/image?w=195&h=17&rev=1&ac=1" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="195" /></div>
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<span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="213" src="https://lh3.googleusercontent.com/73DfO53pFs4jsdNcqMF-Umi3FJx9v_0fphhInuenfzaX71yppSpX3oppjcMLNnezB6Akf_nH82jg_EeOZ5sE2D3rLHlwqVj5jAkZtSosnwK7Y3VKfckjzMqoOHj_TOpL3fbTtUtrAaw2h8irXA" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="602" /></span><img height="17" src="https://docs.google.com/drawings/d/svgXcyIg7hF8pWTc-sebHXg/image?w=129&h=17&rev=1&ac=1" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="129" /><img height="17" src="https://docs.google.com/drawings/d/shiKISAWF7Qk8qOQqJ1E6yA/image?w=245&h=17&rev=1&ac=1" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="245" /></div>
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<span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">如果公司成功赢得这2项诉讼,我们保守估计公司可以在FY2017,至少获得不少过RM 4 MILLION的REVERSAL/WRITE BACK OF IMPAIRMENT LOSS或者是 ADD BACK INCOME,也就是这笔账目会换算成盈利!不要忘记公司有25% 的DIVIDEND POLICY,股民可以从中受惠!但是这里就不得不说公司在选择客户上没有好好筛选,大小通吃,希望公司可以在这上面好好检讨。如果大家还不是很清楚此项目,可参考来自欧阳锋的影片来更加了解一些会计陷阱,</span><img height="81" src="https://docs.google.com/drawings/d/s8wY4_3F7cUYLzXrGk52OBA/image?w=605&h=81&rev=1&ac=1" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="605" /></div>
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<span style="background-color: white; color: #1d2129; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">ECS 第四季度点评 - 24.4.2017 (魔鬼藏在细节里),点击以下链接:</span></div>
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<a href="https://www.youtube.com/watch?v=5mI7lwXFAcc&t=8s" style="text-decoration: none;"><span style="background-color: white; color: #365899; font-family: "helvetica neue"; font-size: 11.5pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">https://www.youtube.com/watch?v=5mI7lwXFAcc&t=8s</span></a></div>
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<li dir="ltr" style="background-color: white; color: #444444; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">如果大家留意这间公司的历史,公司很照顾自己的SHAREHOLDER。为什么那么说呢?因为当公司赚钱时,就会好不吝啬的派发红股!当年公司因为盈利大增,就</span><span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> 在2012年5月9日建议按1送1比例派发红股。但是才</span><span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">过不到2年的时间也就是</span><span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">2014年3月19日,公司</span><span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">又再次</span><span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">建议進行3个普通股送1紅股1凭单。你说这间公司大不大方,照不照顾自己的股东?</span></div>
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<span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="258" src="https://lh3.googleusercontent.com/6ElDYIVPONRRgJRyZ_oqa9Tlv2NtBWodD1M8XQlV_6DU1iEixbzNGxUWcEsyRYoTNXHj7mcwddWQwRiHkM0KFm454yc7mnpP2ntvKNJFBoiBfFpEukoF668Y2LAycITXI0k2B_QbsQhZKoIvcA" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="470" /></span><img height="28" src="https://docs.google.com/drawings/d/sXLYGrMCc9hTaWGTNXzAT3A/image?w=256&h=28&rev=1&ac=1" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="256" /></div>
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<span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">根据财报,公司的RESERVE已经大过公司的SHARE CAPITAL 一倍,加上公司是净现金公司,那么有没有机会在这2017 丰收年在奖励股东呢?我们拭目以待!</span></div>
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<span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">最后一个也是BONUS的事物,笔者在以前的新闻中发现KGB在前几年</span><span style="background-color: white; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">投资在石油与天然气,并在2015年6月3日,与Petro Allied International DMCEST签署一份合作协议,铺路进入世界最大的原油生产中枢。KGB与PAI的联营,将在阿联酋迪拜成立一家公司,并获容许投标中东的石油与天然气工程。</span><span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">老板也在报章透露</span><span style="background-color: white; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">,尽管原油价格疲软,石油输出国组织(OPEC)并没有计划减少生产。活动并没有放缓,而且商机也继续存在。但是在这之后公司就没有报导及跟新此消息,所以笔者会在来临的AGM 和管理层认证,过后再UPDATE 给大家知道。</span></div>
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<span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="283" src="https://lh5.googleusercontent.com/LHcTh1XOfHRCEs0hDg8xfXklMfGbGd9d1IR2zx9J1O1rY5N7HdWqWJds7r3MZaTXFl4WppRmFAyySGGsYOM8JEU_sjC2tenr5xj5XZuOq4zA_dQ1TPyKGgamrbxZAemHyphxnlCImLYZHMuyyQ" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="650" /></span></div>
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<span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">最后根据最新年报,公司在近2年破纪录,是公司上市以来收过最多订单的一年!今年2017,如果大家仔细追踪,才5个月公司就不断拿到新的PROJECT! </span></div>
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<span style="background-color: white; color: #444444; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="325" src="https://lh6.googleusercontent.com/usC5oU-_G88gh3xwbbnAiwkRg_QFyFRJvuOMtgMBGrY31fbWeUKHkYRy-eErYsT3k0-V-4QEWwGr0CRQt4Q-Wk0L59F9abnk6Eq0Zv0xuduT9FS0w9SLNDYXV5HnWVCIZc7BEjSXtyNJKhFryg" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="461" /></span></div>
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<span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">此列表是更新到2017年3月29日的总订单,现在公司的最新的OUTSTANDING ORDER BOOK 已经来到 RM 239.3 MILLION! 那么KGB是否能再创高峰呢? 以管理层的实力及半导体行业复苏,我相信今年公司的业绩会破新高,大家就拭目以待吧!</span></div>
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Simple Investinghttp://www.blogger.com/profile/07534303062433189556noreply@blogger.com0tag:blogger.com,1999:blog-5636583082398679377.post-40467267853156308862017-05-08T23:56:00.000-07:002017-05-10T01:29:55.375-07:00【Mikromb】领导者的眼光 - 是否受惠越南商机 - 欧阳锋<span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">之前笔者看到</span><span style="font-family: "calibri";">Jaks</span><span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">老板为了扩大水务业务跑去越南,结果发现缺电问题,而开始建电厂。因而笔者开始对越南市场有兴趣,缺电问题开始解决,市场就会开始做大,笔者去年</span><span style="font-family: "calibri";">10</span><span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">月开始收集和研究越南的相关资料。</span><o:p></o:p><br />
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<o:p><span style="font-family: "calibri";"> </span></o:p><span style="font-family: "calibri";">2015</span><span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">年</span><span style="font-family: "calibri";">12</span><span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">月</span><span class="shorttext"><span lang="ZH-CN" style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";">越南通过两项新法律为了吸引更多的外国投资</span></span><span class="shorttext"><span style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";"><o:p></o:p></span></span></div>
<span class="shorttext"><span lang="ZH-CN" style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";">大纲主要如下:</span></span><span class="shorttext"><span style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";"><o:p></o:p></span></span><br />
<span style="font-family: "calibri";">1</span><span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">)</span><span style="font-family: "calibri";">Freedom of enterprise affirmed<o:p></o:p></span><br />
<span style="font-family: "calibri";">2</span><span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">)</span><span style="font-family: "calibri";">Substantial reduction of the remaining foreign ownership
limits<o:p></o:p></span><br />
<span style="font-family: "calibri";">3</span><span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">)</span><span style="font-family: "calibri";">Procedural improvements intended to facilitate foreign
investment projects and acquisitions<o:p></o:p></span><br />
<span style="font-family: "calibri";">4</span><span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">)</span><span style="font-family: "calibri";">Improved corporate governance rules<o:p></o:p></span><br />
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<span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">资料来源:</span><a href="https://www.financierworldwide.com/vietnam-seeks-to-attract-more-foreign-investment-with-two-new-laws/#.WM4n-O-1s6Z"><span style="color: #0563c1; font-family: "calibri";">https://www.financierworldwide.com/vietnam-seeks-to-attract-more-foreign-investment-with-two-new-laws/#.WM4n-O-1s6Z</span></a><o:p></o:p></div>
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<o:p><span style="font-family: "calibri";"> </span></o:p><b style="mso-bidi-font-weight: normal;"><u><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">为了方便了解越南的发展提供相关资料</span></u></b></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhZEEnCZt48IPMlhO5kKHH96FB9iOidMVY-ErARrQjmg4-o3kcvFTAoQjGxfqzNKfj8-5oMFYEiNtSSv44_aqj_nfjySJEBPoX1kGKvUJ7vdinW8DKuZiL4GliNpQL2mfroMNj_EbHGbKrC/s1600/video+1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="496" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhZEEnCZt48IPMlhO5kKHH96FB9iOidMVY-ErARrQjmg4-o3kcvFTAoQjGxfqzNKfj8-5oMFYEiNtSSv44_aqj_nfjySJEBPoX1kGKvUJ7vdinW8DKuZiL4GliNpQL2mfroMNj_EbHGbKrC/s640/video+1.jpg" width="640" /></a></div>
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<span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;"><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">越南排在第</span><span style="color: #222222; font-family: "arial" , sans-serif;">7</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">名,主要是因为越南基础建设不够,国土狭长又没有高速公路,也没有捷运,而且投资有限制。但从</span><span style="color: #222222; font-family: "arial" , sans-serif;">2016</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">年下半年开始,越南政府给予新局,取消了外资持有上限</span><span style="color: #222222; font-family: "arial" , sans-serif;">49%</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">的规定,现在只有银行有特别限制。外国人也可以持有买卖房地产。</span><span style="color: #222222; font-family: "arial" , sans-serif;"><o:p></o:p></span></span></div>
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</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">越南华人有</span><span style="color: #222222; font-family: "arial" , sans-serif;">82</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">万人,占总人口</span><span style="color: #222222; font-family: "arial" , sans-serif;">1%</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">,近几年随中国崛起,很多当地人认为随中国发展对他们未来有帮助,这出现了中国热,想学中文的人数增加</span><span style="color: #222222; font-family: "arial" , sans-serif;">.<b style="mso-bidi-font-weight: normal;"><u><o:p></o:p></u></b></span></div>
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</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">越南经济也在起飞当中,房地产也是其中一环,距离胡志明中心正在进行大型的造镇计划,这个区域完工后,将有</span><span style="color: #222222; font-family: "arial" , sans-serif;">13</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">栋建筑物。</span><span style="color: #222222; font-family: "arial" , sans-serif;">13</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">栋建筑物里包含一个</span><span style="color: #222222; font-family: "arial" , sans-serif;">86</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">层摩天大楼。另外还有酒店和购物中心,商办跟住宅。这个地方被形容成上海东新区,胡志明高级商办都会在这。</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjd1DnXIECm2qd6dhvP1RE2H4jLqJ3n1L05xsfgN9ZdMQdb1bJbs9bAQ2-Ol8pNhwnIGwTcrG_8JOsEurygC6dM_bn6Z1Szcg_C1-AIZIlp0XjGCVcvudGGiX9rSAMt4C61i3lEfxHcuvOn/s1600/video+2.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="430" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjd1DnXIECm2qd6dhvP1RE2H4jLqJ3n1L05xsfgN9ZdMQdb1bJbs9bAQ2-Ol8pNhwnIGwTcrG_8JOsEurygC6dM_bn6Z1Szcg_C1-AIZIlp0XjGCVcvudGGiX9rSAMt4C61i3lEfxHcuvOn/s640/video+2.jpg" width="640" /></a></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjyIS5thdjwylkaLFTl7516EwgqaLK9SIAqpqHOZjGWM-rZRplFAsDGR-mbZmLkHcrYsNgZU57mWwZkeiN_SYVShM4BKDSRv_mMFg3rfB4AoCk3vddmo-iAeSGiyI4nfaVf04HzY_vaZiz7/s1600/video.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="392" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjyIS5thdjwylkaLFTl7516EwgqaLK9SIAqpqHOZjGWM-rZRplFAsDGR-mbZmLkHcrYsNgZU57mWwZkeiN_SYVShM4BKDSRv_mMFg3rfB4AoCk3vddmo-iAeSGiyI4nfaVf04HzY_vaZiz7/s640/video.jpg" width="640" /></a></div>
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</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">越南</span><span style="color: #222222; font-family: "arial" , sans-serif;">2016</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">年</span><span style="color: #222222; font-family: "arial" , sans-serif;">GDP</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">成长率达到</span><span style="color: #222222; font-family: "arial" , sans-serif;">6.21%</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">是东协国家资优生,越南市场不可忽视是块金砖大饼</span><span style="color: #222222; font-family: "arial" , sans-serif;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";">另外一份报道在</span><span style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";">2016<span lang="ZH-CN">年</span>12<span lang="ZH-CN">月</span><o:p></o:p></span></div>
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</span><b style="mso-bidi-font-weight: normal;"><u><span lang="ZH-CN" style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";">促进越南</span></u></b><b style="mso-bidi-font-weight: normal;"><u><span style="color: #222222; font-family: "arial" , sans-serif;"> - </span></u></b><b style="mso-bidi-font-weight: normal;"><u><span lang="ZH-CN" style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";">马来西亚商业合作</span></u></b><b style="mso-bidi-font-weight: normal;"><u><span style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";"><o:p></o:p></span></u></b></div>
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</span><span lang="ZH-CN" style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";">在</span><span style="color: #222222; font-family: "arial" , sans-serif;">2016</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">年上半年,双向贸易额近</span><span style="color: #222222; font-family: "arial" , sans-serif;">40</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">亿美元</span><span lang="ZH-CN" style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";">。越南对马</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">来西亚的主要出口包括电脑,电子设备,电话和零件,原油,大米,橡胶,钢铁,咖啡和石油。同时,其进口的主要是石油,电脑,电子设备和部件,动物和植物油,塑料,化工,钢铁。</span><span style="color: #222222; font-family: "arial" , sans-serif;">
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</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">在投资方面,马来西亚是第二大东盟投资者在越南与</span><span style="color: #222222; font-family: "arial" , sans-serif;">547</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">个项目和</span><span style="color: #222222; font-family: "arial" , sans-serif;">139</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">亿美元的注册资本。在</span><span style="color: #222222; font-family: "arial" , sans-serif;">2015</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">年,马来西亚有</span><span style="color: #222222; font-family: "arial" , sans-serif;">27</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">个新项目获得许可,</span><span style="color: #222222; font-family: "arial" , sans-serif;">15</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">个项目允许增加其投资资本,总额</span><span style="color: #222222; font-family: "arial" , sans-serif;">24</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">亿美元。在</span><span style="color: #222222; font-family: "arial" , sans-serif;">2016</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">年上半年,马来西亚向越南注资</span><span style="color: #222222; font-family: "arial" , sans-serif;">3.07</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">亿美元,其中</span><span style="color: #222222; font-family: "arial" , sans-serif;">2.5</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">亿美元来自</span><span style="color: #222222; font-family: "arial" , sans-serif;">18</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">个新项目,近</span><span style="color: #222222; font-family: "arial" , sans-serif;">0.5</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">亿美元来自现有的</span><span style="color: #222222; font-family: "arial" , sans-serif;">12</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">个项目。东盟经济共同体(</span><span style="color: #222222; font-family: "arial" , sans-serif;">AEC</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">)的成立为其成员国和外国合作伙伴提供了巨大的投资和贸易机会。</span><span style="color: #222222; font-family: "arial" , sans-serif;"><br />
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</span><span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;"><span style="color: black;">资料来源:</span></span><a href="http://vccinews.com/news_detail.asp?news_id=34208"><span style="font-family: "arial" , sans-serif;"><span style="color: #0563c1;">http://vccinews.com/news_detail.asp?news_id=34208</span></span></a></div>
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<span style="color: black; font-family: "times new roman";"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgghHHUV3nf7a4sIxhUhQc7XbAvxkkhkMMTrGISnuOCQO2h-vIZpVa1cvExUQNeGFzpzZ3OBTeCKCbSjNmKnPhKQ1CazwdOlYkDv_l5qYbHhMPgSp02FmogawMO_rGgzLtmkmBJQZSP_3qa/s1600/vietnam+m.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="328" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgghHHUV3nf7a4sIxhUhQc7XbAvxkkhkMMTrGISnuOCQO2h-vIZpVa1cvExUQNeGFzpzZ3OBTeCKCbSjNmKnPhKQ1CazwdOlYkDv_l5qYbHhMPgSp02FmogawMO_rGgzLtmkmBJQZSP_3qa/s640/vietnam+m.jpg" width="640" /></a></span></div>
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<span class="MsoHyperlink"><span style="font-family: "arial" , sans-serif;"><span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;"><span style="color: black;">资料来源:</span></span><a href="http://www.enanyang.my/news/20170220/%E3%80%90%E7%8B%AC%E5%AE%B6%E3%80%91%E5%8F%97%E6%9F%8F%E5%A8%81%E5%B9%B4%E4%BA%A7%E6%89%98%E8%82%A1%E4%BB%B7%E6%BF%80%E5%8A%B1br-%E6%9E%97%E6%99%93%E6%98%A5%E8%B7%83%E5%8D%877%E7%BA%A7/"><span style="color: #0563c1; font-family: "calibri";">http://www.enanyang.my/news/20170220/%E3%80%90%E7%8B%AC%E5%AE%B6%E3%80%91%E5%8F%97%E6%9F%8F%E5%A8%81%E5%B9%B4%E4%BA%A7%E6%89%98%E8%82%A1%E4%BB%B7%E6%BF%80%E5%8A%B1br-%E6%9E%97%E6%99%93%E6%98%A5%E8%B7%83%E5%8D%877%E7%BA%A7/</span></a><o:p></o:p></span></span></div>
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<span class="MsoHyperlink"><span style="font-family: "arial" , sans-serif;"><span style="color: black; font-family: "times new roman";"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhLmpor2i6Y7gxpIfy2lzq6TS1LHW0iOL6pC5YUuXYo3C9FvAeL7zM_zWV7UOGeWs79ovHohVU4WzmkPsJXy9H7TZZpKKe4BafSud8U35DDKGyfC8xnJmsj5gsxNxso339Lj6QsnCfFZXXh/s1600/vietnam+m1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="371" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhLmpor2i6Y7gxpIfy2lzq6TS1LHW0iOL6pC5YUuXYo3C9FvAeL7zM_zWV7UOGeWs79ovHohVU4WzmkPsJXy9H7TZZpKKe4BafSud8U35DDKGyfC8xnJmsj5gsxNxso339Lj6QsnCfFZXXh/s640/vietnam+m1.jpg" width="640" /></a></span></span></span></div>
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<span class="MsoHyperlink"><span style="font-family: "arial" , sans-serif;"><u><span lang="ZH-CN" style="color: #333333; font-family: "microsoft yahei" , sans-serif; font-size: 10.5pt;">大众银行</span></u><u><span style="color: #333333; font-family: "microsoft yahei" , sans-serif; font-size: 10.5pt;">
- </span></u><strong><u><span lang="ZH-CN" style="color: blue; font-family: "microsoft yahei" , sans-serif; font-size: 10.5pt;">越南业务续扩充</span></u></strong><u><span style="color: #333333; font-family: "helvetica" , sans-serif; font-size: 10.5pt;"><o:p></o:p></span></u></span></span></div>
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</span><span lang="ZH-CN" style="color: #333333; font-family: "microsoft yahei" , sans-serif; font-size: 10.5pt;">大众银行越南有限公司也取得出色成长。郑鸿标指出,在</span><span style="color: #333333; font-family: "helvetica" , sans-serif; font-size: 10.5pt;">2016</span><span lang="ZH-CN" style="color: #333333; font-family: "microsoft yahei" , sans-serif; font-size: 10.5pt;">年收购大众银行越南的剩余股权后,已带来令人鼓励的表现。集团将继续在越南展开扩充计划,目标是于</span><span style="color: #333333; font-family: "helvetica" , sans-serif; font-size: 10.5pt;">2017</span><span lang="ZH-CN" style="color: #333333; font-family: "microsoft yahei" , sans-serif; font-size: 10.5pt;">年开设</span><span style="color: #333333; font-family: "helvetica" , sans-serif; font-size: 10.5pt;">6</span><span lang="ZH-CN" style="color: #333333; font-family: "microsoft yahei" , sans-serif; font-size: 10.5pt;">家分行。</span><span style="color: #333333; font-family: "microsoft yahei" , sans-serif; font-size: 10.5pt;"><o:p></o:p></span></span></span></div>
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</span><a href="http://www.sinchew.com.my/node/1635694/%E6%95%B4%E4%BD%93%E4%B8%9A%E5%8A%A1%E7%A8%B3%E5%81%A5%EF%BC%8E%E5%A4%A7%E4%BC%97%E9%93%B6%E8%A1%8C%E9%A6%96%E5%AD%A3%E5%87%80%E8%B5%9A125%E4%BA%BF"><span style="font-family: "helvetica" , sans-serif; font-size: 10.5pt;"><span style="color: #0563c1;">http://www.sinchew.com.my/node/1635694/%E6%95%B4%E4%BD%93%E4%B8%9A%E5%8A%A1%E7%A8%B3%E5%81%A5%EF%BC%8E%E5%A4%A7%E4%BC%97%E9%93%B6%E8%A1%8C%E9%A6%96%E5%AD%A3%E5%87%80%E8%B5%9A125%E4%BA%BF</span></span></a><span style="color: #333333; font-family: "helvetica" , sans-serif; font-size: 10.5pt;"><o:p></o:p></span></span></span></div>
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<span class="MsoHyperlink"><span style="font-family: "arial" , sans-serif;"><span style="color: black;"><b style="mso-bidi-font-weight: normal;"><u><span lang="ZH-CN" style="font-family: "simsun"; mso-bidi-font-family: SimSun;">亚航投资</span></u></b><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "simsun"; mso-bidi-font-family: SimSun;">5820<span lang="ZH-CN">万</span></span></u></b><b style="mso-bidi-font-weight: normal;"><u><span lang="ZH-CN" style="font-family: "ms mincho"; mso-bidi-font-family: "MS Mincho";">‧</span></u></b><b style="mso-bidi-font-weight: normal;"><u><span lang="ZH-CN" style="font-family: "simsun"; mso-bidi-font-family: SimSun;">越南联营廉航公司 </span></u></b><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "simsun"; mso-bidi-font-family: SimSun;"><o:p></o:p></span></u></b></span></span></span></div>
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</span><span style="color: black;"><span lang="ZH-CN" style="font-family: "simsun"; mso-bidi-font-family: SimSun;">亚洲航空(</span><span style="font-family: "simsun"; mso-bidi-font-family: SimSun;">AIRASIA,5099,<span lang="ZH-CN">主板贸服组)建议与越南的</span>Gumin<span lang="ZH-CN">公司、陈重坚(译音,</span>Tran Trong Kien<span lang="ZH-CN">)以及海鸥航空(</span>HAA<span lang="ZH-CN">)联手在越南设立廉航公司,以进一步扩展东南亚市场。</span><o:p></o:p></span></span></span></span></div>
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<span class="MsoHyperlink"><span style="font-family: "arial" , sans-serif;"><span style="color: black;"><span lang="ZH-CN" style="font-family: "simsun"; mso-bidi-font-family: SimSun;">资料来源:</span><span style="color: #333333; font-family: "microsoft yahei" , sans-serif; font-size: 10.5pt;"><o:p></o:p></span></span></span></span></div>
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</span><a href="http://www.sinchew.com.my/node/1629377/%E4%BA%9A%E8%88%AA%E6%8A%95%E8%B5%845820%E4%B8%87%E2%80%A7%E8%B6%8A%E5%8D%97%E8%81%94%E8%90%A5%E5%BB%89%E8%88%AA%E5%85%AC%E5%8F%B8"><span style="font-family: "simsun"; mso-bidi-font-family: SimSun;"><span style="color: #0563c1;">http://www.sinchew.com.my/node/1629377/%E4%BA%9A%E8%88%AA%E6%8A%95%E8%B5%845820%E4%B8%87%E2%80%A7%E8%B6%8A%E5%8D%97%E8%81%94%E8%90%A5%E5%BB%89%E8%88%AA%E5%85%AC%E5%8F%B8</span></span></a><span style="font-family: "simsun"; mso-bidi-font-family: SimSun;"><o:p></o:p></span></span></span></div>
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<span class="MsoHyperlink"><span style="font-family: "arial" , sans-serif;"><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">之后笔者慢慢寻找那些公司比较符合我们条件</span><span style="color: #222222;"><o:p></o:p></span></span></span></div>
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</span><span style="color: #222222; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;"><span style="font-family: "calibri";">1)</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">开始在越南开阔市场</span><span style="color: #222222;"><o:p></o:p></span></span></span></div>
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</span><span style="color: #222222; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;"><span style="font-family: "calibri";">2)</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">成长股公司</span><span style="color: #222222;"><o:p></o:p></span></span></span></div>
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</span><span style="color: #222222; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;"><span style="font-family: "calibri";">3)</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">高赚幅</span><span style="font-family: "calibri";"><span lang="ZH-CN" style="color: #222222;"> </span><span style="color: #222222;">– Gross
margin 40 – 50%<o:p></o:p></span></span></span></span></div>
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</span><span style="color: #222222; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;"><span style="font-family: "calibri";">4)</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span style="color: #222222;"><span style="font-family: "calibri";">ROE 15%-20%<o:p></o:p></span></span></span></span></div>
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<span class="MsoHyperlink"><span style="font-family: "arial" , sans-serif;"><span style="color: black; font-family: "times new roman";">
</span><span style="color: #222222; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;"><span style="font-family: "calibri";">5)</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span style="color: #222222;"><span style="font-family: "calibri";">Net cash<o:p></o:p></span></span></span></span></div>
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</span><span style="color: #222222; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;"><span style="font-family: "calibri";">6)</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">最好有发</span><span style="color: #222222;"><span style="font-family: "calibri";">dividend<o:p></o:p></span></span></span></span></div>
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<span class="MsoHyperlink"><span style="font-family: "arial" , sans-serif;"><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">不一定要全部条件符合,根据情况而定。之前笔者分析的</span><span style="color: #222222;"><span style="font-family: "calibri";">Elsoft</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">就符合笔者大部分条件。</span><span style="color: #222222;"><o:p></o:p></span></span></span></div>
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</span><b style="mso-bidi-font-weight: normal;"><u><span style="color: #222222; font-size: 24pt; line-height: 107%;"><o:p><span style="text-decoration: none;"><span style="font-family: "times new roman"; font-size: small;"> </span></span></o:p></span></u></b></span></span></div>
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<span class="MsoHyperlink"><span style="font-family: "arial" , sans-serif;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEghoTAsiifaPn7-VgBr9wroGvSXUI81TQt55OtnaorIf_noH_EtCayHJ54NF6b7PrYV0IvvpsjIryYnkGOvHuQlHW2rtEZQziZ9uD0qEImGtvyQ-x4OhoV5tDCvfn-_sWS1BzDEwyl7sAwA/s1600/2+quarters+result.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="600" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEghoTAsiifaPn7-VgBr9wroGvSXUI81TQt55OtnaorIf_noH_EtCayHJ54NF6b7PrYV0IvvpsjIryYnkGOvHuQlHW2rtEZQziZ9uD0qEImGtvyQ-x4OhoV5tDCvfn-_sWS1BzDEwyl7sAwA/s640/2+quarters+result.jpg" width="640" /></a></span></span></div>
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<span class="MsoHyperlink"><span style="font-family: "arial" , sans-serif;"><span style="color: black; font-family: "times new roman";"><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">图(</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">1</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">)</span></span></span></span></div>
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<span style="color: black; font-family: "times new roman";"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjKvFkUMHMYLbuGNnvMYi6N8_mOIccattUaOgWt8cMGAiWEL9jEB1guO7dEILbAUFtdWCmT0l2qX4fXe7yRT16lsf1CWunMEet6fRyfBOTLNguySEnluAc1ARALzV73L3nqUavV6IXqp6EU/s1600/t.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="406" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjKvFkUMHMYLbuGNnvMYi6N8_mOIccattUaOgWt8cMGAiWEL9jEB1guO7dEILbAUFtdWCmT0l2qX4fXe7yRT16lsf1CWunMEet6fRyfBOTLNguySEnluAc1ARALzV73L3nqUavV6IXqp6EU/s640/t.jpg" width="640" /></a></span></div>
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<span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">图(</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">2</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">)</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><o:p></o:p></span></div>
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<span style="color: #222222;"><o:p><span style="font-family: "calibri";"> </span></o:p></span></div>
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<span style="color: #222222;"><o:p></o:p></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">两个季度达到</span><span style="color: #222222;"><span style="font-family: "calibri";">6Million</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">图(</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">1</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">),半年已有</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">6Million, </span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">那么下半年保持就有</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">12million, </span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">业绩有机会突破新高</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">。之后开始查看最新的季度</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">图(</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">2</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">)</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">显示有很高的</span><span style="color: #222222;"><span style="font-family: "calibri";">Gross margin </span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">和</span><span style="color: #222222;"><span style="font-family: "calibri";"> Net profit margin. Gross Margin </span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">是</span><span style="color: #222222;"><span style="font-family: "calibri";"> 53.6%</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">和</span><span style="color: #222222;"><span style="font-family: "calibri";">Net profit margin </span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">是</span><span style="color: #222222;"><span style="font-family: "calibri";"> 24.6%</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">,从中可以知道他们的产品有高赚幅利润。这大大引起笔者的兴趣,值得深入研究。</span></div>
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</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">图(</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">3</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">)</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><o:p></o:p></span></span></div>
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<span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">翻查</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">2016</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">年年报图(</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">3</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">)</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">Chairman statement</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">里面提及过去</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">5</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">年公司的</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">ROE</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">都超过</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">20%</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">以上,除了</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">2013</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">年是</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">18.5%</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">。另外,公司虽然没有派息政策但过去</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">5</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">年的</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">Total Net profit RM
33.6million</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">派出了</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">47.7% total dividend
RM16million. </span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">如果包过</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">Bonus issue </span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">将高达</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">75.6%</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">。</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgv92v74EDx29h3NrARFSssv8imvrIOs1v5A2DtEpYDBjQrwk-ClF1zNURHvU6cyNGe2PJgM-qmKQh2524pIuYFTH1SUULFcmTbXEpIgVnZlob5N3XRLWgfk69agl5IWNgUwcnHJD0t1NZs/s1600/mikromb+2.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgv92v74EDx29h3NrARFSssv8imvrIOs1v5A2DtEpYDBjQrwk-ClF1zNURHvU6cyNGe2PJgM-qmKQh2524pIuYFTH1SUULFcmTbXEpIgVnZlob5N3XRLWgfk69agl5IWNgUwcnHJD0t1NZs/s640/mikromb+2.jpg" width="434" /></a></div>
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</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">图(</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">4</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">)</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">最新季报图(</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">4</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">)也显示是</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">Net cash company = Cash
– total liabilities = RM3,759,422</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">,公司没有负债问题。</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><u><span lang="ZH-CN" style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";">公司品牌知名度</span></u></b><b style="mso-bidi-font-weight: normal;"><u><span style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";"><o:p></o:p></span></u></b></div>
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<span style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";">2016<span lang="ZH-CN">年</span>1<span lang="ZH-CN">月</span>16<span lang="ZH-CN">号</span>, director<span lang="ZH-CN">在</span>the
star<span lang="ZH-CN">里面提及尽管其主要竞争对手是</span></span><span style="color: #222222; font-family: "arial" , sans-serif;">Schneider Electric</span><span lang="ZH-CN" style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";">和</span><span style="color: #444444; font-family: "roboto" , serif;"><span style="font-family: "times new roman";">Siemens</span></span><span lang="ZH-CN" style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";">等主要国际品牌,公司仍在马来西亚获得超过</span><span style="color: #222222; font-family: "arial" , sans-serif;">50</span><span lang="ZH-CN" style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";">%的市场份额</span><span style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";"> - <span lang="ZH-CN">保护继电器的利基</span>(</span><span style="color: #444444; font-family: "roboto" , serif;"><span style="font-family: "times new roman";">Niche area of protective
relays)</span></span><span lang="ZH-CN" style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";">。公司</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">的竞争优势是他们提供的售后服务。对于公司的马来西亚客户,如果他们面临与公司产品有关的任何问题或不确定性,我们派技术人员帮助他们,很多其他品牌都无法提供这项服务。</span><span style="color: #222222; font-family: "arial" , sans-serif;"><br style="mso-special-character: line-break;" />
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<!--[endif]--></span><span lang="ZH-CN" style="color: red; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;"></span></div>
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<span lang="ZH-CN" style="color: red; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">公司约有</span><span style="color: red; font-family: "arial" , sans-serif;">60</span><span lang="ZH-CN" style="color: red; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">%的业务在马来西亚</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">,但他们已将产品出口到约</span><span style="color: #222222; font-family: "arial" , sans-serif;">20</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">个其他国家,包括澳大利亚,孟加拉国,柬埔寨和中国。</span><span lang="ZH-CN" style="color: red; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">在公司海外市场,业务的</span><span style="color: red; font-family: "arial" , sans-serif;">40</span><span lang="ZH-CN" style="color: red; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">%集中在越南。</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">公司在越南已经</span><span style="color: #222222; font-family: "arial" , sans-serif;">14</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">年了,而且当时是第一个海外市场。</span><span style="color: #222222; font-family: "arial" , sans-serif;"><o:p></o:p></span></div>
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</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;"></span></div>
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<span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;"></span> </div>
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<span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">另外一个主要优势是定价,因为公司的一些产品比竞争对手的成本要便宜得多。这取决于哪些产品和哪些品牌,但公司的产品通常更加实惠,尤其是与欧洲大品牌相比。最初,很难说服我们的客户接受马来西亚制造的产品用于他们的电气系统,并打击国际品牌。现在越来越好,公司已经在市场上已经有</span><span style="color: #222222; font-family: "arial" , sans-serif;">19</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">年了。</span><span style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;"></span> </div>
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<span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">资料来源:</span><span style="color: #222222; font-family: "arial" , sans-serif;">http://www.thestar.com.my/business/business-news/2016/01/16/mikro-sees-good-year-ahead/<o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><u><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;"></span></u></b> </div>
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<b style="mso-bidi-font-weight: normal;"><u><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">公司的</span></u></b><b style="mso-bidi-font-weight: normal;"><u><span style="color: #222222; font-family: "arial" , sans-serif;">website</span></u></b><b style="mso-bidi-font-weight: normal;"><u><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">也提供很多详细资料</span></u></b></div>
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<b style="mso-bidi-font-weight: normal;"><u><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;"></span></u></b><b style="mso-bidi-font-weight: normal;"><u><span style="color: #222222; font-family: "arial" , sans-serif;"><o:p><span style="font-family: "simsun";"></span></o:p></span></u></b> </div>
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<b style="mso-bidi-font-weight: normal;"><u><span style="color: #222222; font-family: "arial" , sans-serif;">General FAQ<o:p></o:p></span></u></b></div>
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<strong><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;">What type of products does the company produce?</span></strong><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;"><br />
Mikro produces analogue, digital and numerical electrical distribution
equipment.<o:p></o:p></span></div>
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<strong><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;">What are the company's products used for?</span></strong><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;"><br />
Mikro's products are used as an important component of a building's integrated
electrical system. They are designed to monitor and prevent damage to
electrical equipment by isolating and tripping a circuit breaker when an
electrical fault is detected, in the process allowing unaffected parts of the
electrical system to continue to operate.<o:p></o:p></span></div>
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<strong><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;">What kind of buildings most commonly fit
Mikro's products?</span></strong><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;"><br />
The versatility of our products makes them ideal for use in schools, hospitals,
hotels, shopping complexes, banks and industrial plants and other mid-sized to
large buildings.<o:p></o:p></span></div>
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<strong><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;">Can I order products online?</span></strong><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;"><br />
We aim to ensure you receive exactly the right equipment for your particular
project, which is why we currently only invite enquiries through our sales
lines and agents.<o:p></o:p></span></div>
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<strong><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;">Do Mikro's products come with a warranty?</span></strong><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;"><br />
<span style="color: red;">Yes. All our products come with a two year warranty.</span><o:p></o:p></span></div>
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<strong><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;">Does Mikro provide after-sales support?</span></strong><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;"><br />
<span style="color: red;">Yes. We welcome the opportunity to provide our
customers with support and assistance. For technical assistance dial our
service hotline on 1800 88 1113, or for general enquiries simply dial +603 5192
7155 and let us know how we can help.<o:p></o:p></span></span></div>
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<strong><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;">Which quality standards does Mikro adhere to?</span></strong><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;"><br />
Mikro is accredited with ISO 9001:2008 certification on quality management
systems. The ISO 9001:2008 is an assurance of our ability to consistently
provide products that meet customer and applicable regulatory requirements. It
also ensures our ability to enhance customer satisfaction through the effective
application of the system, including processes for continual improvement of the
system and the assurance of conformity to customer and applicable regulatory
requirements.<o:p></o:p></span></div>
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<span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">以上都是公司想让客户对该产品有所了解,同时我们也发现公司确实在提供售货服务如该产品有两年</span><span style="color: #222222; font-family: "arial" , sans-serif;">warranty</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">,售后服务如产品发生问题有提供专业人员协助。另外,公司也很细心,公司为了确保客户选择正确的设备,没有提供</span><span style="color: #222222; font-family: "arial" , sans-serif;">online service</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">让客户自己选</span><span style="color: #222222; font-family: "arial" , sans-serif;">, </span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">只通过销售线和代理为客户提供专业且选择正确的设备。</span><span style="color: #222222; font-family: "arial" , sans-serif;"><o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><u><span lang="ZH-CN" style="font-family: "simsun"; font-size: 10.5pt; line-height: 107%;">公司产品种类</span></u></b><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;"><o:p></o:p></span></u></b></div>
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<b><span style="font-family: "calibri";">Analogue Protective Relays</span></b><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;"><br />
Analogue Protective Relays use analogue electronic circuits and components in
the shape of discrete semiconductor components such as diodes, transistors, or
ICs. These are then assembled together on a printed circuit board (PCB) to
create the final product.<o:p></o:p></span></div>
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<b><span style="font-family: "calibri";">Digital Protective Relays</span></b><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;"><br />
Digital Protective Relays use a digital logic IC or microprocessor as the main
component to control the essential functions and features. Minimal analogue
electronic circuits are used to interface the digital logic part of the relay
to the physical world. These analogue and digital circuitries are integrated on
a PCB to form the relay. Digital microprocessor relays enable us to implement
advanced features using specialist software.<o:p></o:p></span></div>
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<a href="https://www.youtube.com/watch?v=MLAcbB0TRFM&t=689s"><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;"><span style="color: #0563c1;">https://www.youtube.com/watch?v=MLAcbB0TRFM&t=689s</span></span></a><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;"><o:p></o:p></span></div>
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<b><span style="font-family: "calibri";">Numerical Protective Relays</span></b><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;"><br />
Numerical Protective Relays are similar to Digital Protective Relays but posses
significantly advanced sensory programmes. This enables them to undertake more
complex, precise and detailed analysis of input signals prior to issuing an
action.<o:p></o:p></span></div>
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<b><span style="font-family: "calibri";">Microprocessors</span></b><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;"><br />
Mikro's microprocessors use 16 bit microcontroller, DSP (Digital Signal
Processor) engines. Signals are processed by digital means which improves
reliability while overcoming the shortfalls of analogue circuits.<o:p></o:p></span></div>
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<b><span style="font-family: "calibri";">SMT</span></b><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;"><br />
Surface Mount Technology or SMT, allows for a smaller form factor which
improves production efficiency and yield (due to automation) and is responsible
for improved noise immunity performance.<o:p></o:p></span></div>
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<b><span style="font-family: "calibri";">CAD CAM</span></b><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;"><br />
At Mikro we use two industrial standard software packages. 1) Altium, for
printed circuit board design. 2) Autocad, for mechanical design. Computer aided
design and manufacturing complements the end product by giving us rapid
prototyping and simulation, improved precision and tolerance and better
documentation.<o:p></o:p></span></div>
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<a href="https://www.youtube.com/watch?v=kLbCqBSLd3w"><span style="color: #0563c1; font-family: "calibri";">https://www.youtube.com/watch?v=kLbCqBSLd3w</span></a><b><o:p></o:p></b></div>
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<b><span style="font-family: "calibri";">Switch Mode Power Supply</span></b><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;"><br />
Customers can operate Mikro's relays under different electrical networks
(US/Japan 110Volts, Malaysia, Europe, 230Volts). Our power supply units also promote
higher efficiency and are lighter weight.<o:p></o:p></span></div>
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<b><span style="font-family: "calibri";">EMC</span></b><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;"><br />
To perform effectively, all relays must be immune to EMC noise. Mikro's
products are sensitive enough to detect small signals while remaining immune to
nuisance tripping.<o:p></o:p></span></div>
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<span lang="ZH-CN" style="font-family: "simsun"; font-size: 10.5pt; line-height: 107%;">为让读者方便了解,<span style="font-size: small;">笔者</span>也提供</span><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;">youtube</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 10.5pt; line-height: 107%;">给各位深入了解该产品。以上商品都是比较专业用的电子器材。主要业务是设计及生产功率因数校正器</span><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;">
(Power Factor Regulator) </span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 10.5pt; line-height: 107%;">和多款断电器</span><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;">(Relay)</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 10.5pt; line-height: 107%;">相关产品。主要用于建筑物和工厂的供电装置,以防止电流超载,短路或漏电。</span><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="font-family: "simsun"; font-size: 10.5pt; line-height: 107%;">公司旗下品牌</span><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;">“Mikro”</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 10.5pt; line-height: 107%;">是自身研发和制造,主要在大马和东南亚国家销售,公司产品也供应予吉隆坡第二国际机场(</span><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;">Klia 2</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 10.5pt; line-height: 107%;">)及捷运项目</span><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;">(MRT
1&2)</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 10.5pt; line-height: 107%;">等工程,目前也正投标吉隆坡</span><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;">118</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 10.5pt; line-height: 107%;">大楼的供应合约。</span><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">以上是公司的</span><span style="color: #222222; font-family: "arial" , sans-serif;">suppliers</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">,</span><span lang="ZH-CN" style="color: #222222; font-family: "arial" , sans-serif;"> </span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">很多来自上市公司</span><span style="color: black;"><span style="font-family: "arial" , sans-serif;">Inpro Pakistan Private Limited</span><span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">,</span><span style="font-family: "arial" , sans-serif;">JCK
Controls Pte Ltd</span><span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">,</span><span style="font-family: "arial" , sans-serif;">Measuring Automation Company, Ltd</span><span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">,</span><span style="font-family: "arial" , sans-serif;">Rotax
Limited</span><span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">,</span><span style="font-family: "arial" , sans-serif;">Amit Knitting Industries Ltd</span><span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">,</span><span style="font-family: "arial" , sans-serif;">Energypac
Engineering Ltd</span><span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">,</span><span style="font-family: "arial" , sans-serif;">Rickson Engineering Limited</span></span><span lang="ZH-CN" style="font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;"><span style="color: black;">。同时笔者</span><span style="color: red;">也看到有些上市公司也有放公司</span></span><span lang="ZH-CN" style="color: red; font-family: "simsun"; font-size: 10.5pt; line-height: 107%;">旗下品牌</span><span style="color: red; font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;">“Mikro”</span><span style="color: red; font-family: "arial" , sans-serif;">,</span><span lang="ZH-CN" style="color: red; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">这增加知名度。</span></div>
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<span lang="ZH-CN" style="color: red; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;"><div class="MsoNormal" style="margin: 0cm 0cm 8pt;">
<span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">公司提供服务的国家</span><span style="color: #222222; font-family: "arial" , sans-serif;"><o:p></o:p></span></div>
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<span style="color: black; font-family: "times new roman";"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh3AaeZJS5l4IwffXwg49bNPjuE-zzjvvq-iPFIN6C0kYI1rrgCDAVckr7wMuDW97BCUSyHpugd8hQ31lckVM9oEWj6qjyfxRuJbT6Thr0t5Ttfz-c0A-d2EGm4sRqYF4nGmJQZA65udLxI/s1600/mik+country.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="578" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh3AaeZJS5l4IwffXwg49bNPjuE-zzjvvq-iPFIN6C0kYI1rrgCDAVckr7wMuDW97BCUSyHpugd8hQ31lckVM9oEWj6qjyfxRuJbT6Thr0t5Ttfz-c0A-d2EGm4sRqYF4nGmJQZA65udLxI/s640/mik+country.jpg" width="640" /></a></span></div>
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<b style="mso-bidi-font-weight: normal;"><u><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">购买新工厂</span></u></b><b style="mso-bidi-font-weight: normal;"><u><span style="color: #222222; font-family: "arial" , sans-serif;"><o:p></o:p></span></u></b></div>
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</span><span lang="ZH-CN" style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";">在</span><span style="color: #222222; font-family: "arial" , sans-serif;">2015</span><span lang="ZH-CN" style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";">年</span><span style="color: #222222; font-family: "arial" , sans-serif;">12</span><span lang="ZH-CN" style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";">月</span><span style="color: #222222; font-family: "arial" , sans-serif;">17</span><span lang="ZH-CN" style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";">号</span><span style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";">, <span lang="ZH-CN">公司在</span>Bursa<span lang="ZH-CN">公告表示已经获得了一块</span>Freehold<span lang="ZH-CN">的工业用地,面积约为</span></span><span style="color: #222222; font-family: "arial" , sans-serif;">4,047</span><span lang="ZH-CN" style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";">平方米,有一个单层仓库,一个附属的三层办公大楼</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 10.5pt; line-height: 107%;"><span style="color: black;">和停车场等</span></span><span style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";">, </span><span style="color: black;"><span lang="ZH-CN" style="font-family: "simsun"; font-size: 10.5pt; line-height: 107%;">以</span><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;">RM 11.72 Million</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 10.5pt; line-height: 107%;">购买位于巴生地皮与建筑,为往后发展铺路。</span><span style="font-family: "arial" , sans-serif; font-size: 10.5pt; line-height: 107%;"><o:p></o:p></span></span></div>
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<span lang="ZH-CN" style="color: red; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";">根据之前公司在报道提及可以该工厂将为公司的能力增加到现在做的五倍。</span><span style="color: red; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="color: black; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei"; mso-themecolor: text1;">另外,公司并未通过发</span><span style="color: black; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei"; mso-themecolor: text1;">right issue<span lang="ZH-CN">向股东拿钱购买土地,</span></span><span lang="ZH-CN" style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";">而是通过一项私人配售</span><span style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";">(private
placement)<span lang="ZH-CN">,以筹集约</span></span><span style="color: #222222; font-family: "arial" , sans-serif;">846</span><span lang="ZH-CN" style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";">万美元用于翻新工程,购买机械设备和营运资金。</span><span style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">图(</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">5</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">)</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">最新季报</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">图(</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">5</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">)</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">显示目前该工厂还未开始运作,有可能拖到</span><span style="color: #222222; font-family: "arial" , sans-serif;">2018</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">年底,需保持跟踪。</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgGyLXS4uucKPRHCpuLnewDyPPn7oagDj-MHAHo-oerimC-K4GuvVBwUJpi5kaXuliPIXSnlTceJCr8eD7-ppjnBN5w5lwfQzy-W-PhLHqYlA5XaqeAcK1e3fbFqB2IN95FTd6a31K_w_Qh/s1600/mikromb+annual+report+vietnam.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="211" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgGyLXS4uucKPRHCpuLnewDyPPn7oagDj-MHAHo-oerimC-K4GuvVBwUJpi5kaXuliPIXSnlTceJCr8eD7-ppjnBN5w5lwfQzy-W-PhLHqYlA5XaqeAcK1e3fbFqB2IN95FTd6a31K_w_Qh/s640/mikromb+annual+report+vietnam.jpg" width="640" /></a></div>
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<span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">图(</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">6</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">)</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><o:p></o:p></span></div>
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<span style="color: black; font-family: "times new roman";"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjw5oQb4QfP-87F-9wCeCr0FjuDKie8kWcPKIyA5dx8sQdCVDICT9uP_XP5dHJk7qLzdL-I81U5QlSmXxHcJNjKnC0AgwdpXe4b4m81qL-n4euePNS-3Tu6Soy5CUqRn7Q_k7eovG4DnxuG/s1600/mik+trade.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="186" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjw5oQb4QfP-87F-9wCeCr0FjuDKie8kWcPKIyA5dx8sQdCVDICT9uP_XP5dHJk7qLzdL-I81U5QlSmXxHcJNjKnC0AgwdpXe4b4m81qL-n4euePNS-3Tu6Soy5CUqRn7Q_k7eovG4DnxuG/s640/mik+trade.jpg" width="640" /></a></span></div>
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<span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;"><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">图(</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">7</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">)</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">- Trade receivables</span></span></span></div>
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<span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">图(</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">8</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">)</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">- Trade payables</span></span></div>
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<b style="mso-bidi-font-weight: normal;"><u><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 18pt; line-height: 107%;">重点</span></u></b><b style="mso-bidi-font-weight: normal;"><u><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 18pt; line-height: 107%;"><o:p></o:p></span></u></b></div>
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</span><!--[endif]--><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">公司之前符合转主板条件,但未转,而</span><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt; line-height: 107%;">2017</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">年三月的最新报道提及,公司不愿转主板。转主板能吸引基金购买该公司股票,但公司目前已说明没有这个打算。不过,公司目前已经有</span><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt; line-height: 107%;">5</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">个投资机构投资,当中包过</span><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt; line-height: 107%;">Norges Bank, </span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">兴业银行和大华银行旗下基金。</span><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt; line-height: 107%;"><o:p></o:p></span></div>
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<span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt; line-height: 107%;">2016</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">年年报提及公司的</span><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt; line-height: 107%;">Tax exemption</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">将在</span><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt; line-height: 107%;">2017</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">年</span><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt; line-height: 107%;">5</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">月</span><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt; line-height: 107%;">30</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">号到期,但</span><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt; line-height: 107%;">director</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">并未担心,不会影响公司业务,免税优惠只限于软件开发成本,失去免税优惠预计往后需要承担</span><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt; line-height: 107%;">RM70</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">万到</span><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt; line-height: 107%;">RM80</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">万左右。根据本人自身经验,公司购买的新工厂如果开始运作,有机会再次拿到免税优惠。</span><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt; line-height: 107%;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">另外,新工厂增加新生产线和储存空间近期以获得有关当局批准。</span><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt; line-height: 107%;"><o:p></o:p></span></div>
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<!--[endif]--><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">根据</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">2016</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">年年报</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";"> -</span> </span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">图(</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">6</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">)我们可以看到</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">出口去</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">Vietnam</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">的需求开始增加,而且对比</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><span style="font-family: "calibri";">2015</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">年几乎增加两倍的量。</span><span style="color: #222222; font-size: 12pt; line-height: 107%;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">另外,公司出口是以美元计算,公司进口原料也是以美元计算,但从</span><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt; line-height: 107%;">Trade receivables </span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">对比</span><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt; line-height: 107%;">Trade payables</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">占的比例,明显看出公司赚美元比较多。也从</span><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt; line-height: 107%;">2016</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">年一月的报道提及</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">虽然公司必须进口大约</span><span style="color: #222222; font-family: "arial" , sans-serif;">20</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">%的原材料,但出口的收入明显高于和超过这些成</span><span lang="ZH-CN" style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";">本。</span><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt; line-height: 107%;"><o:p></o:p></span></div>
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<!--[endif]--><span lang="ZH-CN" style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";">当公司收购新工厂,而且未来产量会增加五倍,明显看出公司准备开阔东南亚市场,现在我们看到越南需求量大增,尤其是越南开始要建</span><span style="color: #222222; font-family: "arial" , sans-serif;">13</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">栋建筑物里包含一个</span><span style="color: #222222; font-family: "arial" , sans-serif;">86</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">层摩天大楼。另外还有酒店和购物中心,商办跟住宅,还有越南生态城市公园和工厂等。刚好都是公司主要潜在客户,因为产品</span><span lang="ZH-CN" style="font-family: "simsun"; font-size: 10.5pt; line-height: 107%;"><span style="color: black;">主要用于建筑物和工厂的供电装置,以防止电流超载,短路或漏电。</span></span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">在最新</span><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt; line-height: 107%;">2017</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">年三月报道,也证明这个观点,提及东南亚市场潜力大,新建筑物不断涌现,加上原有客户更换新设备带动。近几年越南经济发展蓬勃,大部分建筑物仍未有这设备,因此拥有巨大商机。目前公司出口占</span><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt; line-height: 107%;">44%</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">,下个目标未来</span><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt; line-height: 107%;">5</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">年提升到</span><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt; line-height: 107%;">2/3</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">。</span><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt; line-height: 107%;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">新产品抢占市场,公司今年内推出智能系列电器,采用物联网的概念,让电器系统连接互联网,客户可通过网络及时掌握工厂的电流状况和发生电路问题时找出根源,可成为公司未来成长动力,让公司未来</span><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt; line-height: 107%;">5</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; font-size: 12pt; line-height: 107%;">年持续忙碌,而该产品将以全套式销售,料可进一步提升该公司赚幅。</span><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12pt; line-height: 107%;"><o:p></o:p></span></div>
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<span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Arial;">总结:</span><span style="color: #222222; font-family: "arial" , sans-serif;"><o:p></o:p></span></div>
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<span style="color: black; font-family: "times new roman";">
</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">公司符合笔者全部条件</span><span style="color: #222222;"><o:p></o:p></span></div>
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<span style="color: black; font-family: "times new roman";">
</span><span style="color: #222222; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;"><span style="font-family: "calibri";">1)</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">开始在越南开阔市场</span><span style="color: #222222;"><o:p></o:p></span></div>
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<span style="color: black; font-family: "times new roman";">
</span><span style="color: #222222; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;"><span style="font-family: "calibri";">2)</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">成长股公司</span><span style="color: #222222;"><o:p></o:p></span></div>
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<span style="color: black; font-family: "times new roman";">
</span><span style="color: #222222; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;"><span style="font-family: "calibri";">3)</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">高赚幅</span><span style="font-family: "calibri";"><span lang="ZH-CN" style="color: #222222;"> </span><span style="color: #222222;">– Gross
margin 40 – 50%<o:p></o:p></span></span></div>
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<span style="color: black; font-family: "times new roman";">
</span><span style="color: #222222; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;"><span style="font-family: "calibri";">4)</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span style="color: #222222;"><span style="font-family: "calibri";">ROE 15%-20%<o:p></o:p></span></span></div>
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</span><span style="color: #222222; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;"><span style="font-family: "calibri";">5)</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span style="color: #222222;"><span style="font-family: "calibri";">Net cash<o:p></o:p></span></span></div>
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</span><span style="color: #222222; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;"><span style="font-family: "calibri";">6)</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">最好有发</span><span style="color: #222222;"><span style="font-family: "calibri";">dividend<o:p></o:p></span></span></div>
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<span style="color: black; font-family: "times new roman";">
</span><span lang="ZH-CN" style="color: #222222; font-family: "simsun"; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: SimSun; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">另外,值得笔者留意五月公布的业绩将是关键,去年五月公布的业绩提及公司</span><span class="shorttext"><span lang="ZH-CN" style="color: #222222; font-family: "microsoft yahei" , sans-serif; mso-bidi-font-family: "Microsoft YaHei";">由于农历新年假期的影响和新年庆祝活动的推进效应,本季度传统上是较低的销售季度。如果这次的季度增加,将是利好因素。</span></span></div>
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5636583082398679377.post-34565837849805864512017-04-27T05:51:00.001-07:002017-04-27T17:27:04.983-07:00PERAK TRANSIT BERHAD另外一只准备转主板的飙涨股?<div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 26pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">PERAK TRANSIT BERHAD</span></div>
<div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "calibri"; font-size: 26pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;"><img height="114" src="https://lh6.googleusercontent.com/Nte_mTAqLA-wBgiaBiVGtS1OksVrNhfdilNLHznrodmUTZJX99PMvahU-4MQoh5IzAPgk7tKgBvguwaIE5njSr2ptdpTsuicD5audx_UPE_YVRzKp19tzWUhUp3OBr9ZM3DXhypUuNeRi0fDMg" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="456" /></span></div>
<div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">Recently, we can see some stocks have been shooting up sharply due to the reason of transferring from ace to main board. HSSEB has seen its stock price rally up to 110% return within 1 year, SALUTICA also enjoy with same news and the share price has go up to 100% within 1 year! Are you looking for the next stock like HSSEB and SALUTICA that listed within 1 year and eligible to change to main board? Yes, there is another hidden gem that can be the next 100% gain in your portfolio! </span></span></div>
<div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">Last year PTRANS IPO has set another remark for the group and now the Group is qualified for the transfer to main market, having recorded a cumulative net profit of RM54.5m over the past 3 years. PTRANS involve in 3 type of business, which are :</span></span></div>
<ul style="margin-bottom: 0pt; margin-top: 0pt;">
<li dir="ltr" style="background-color: transparent; color: black; font-family: Arial; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; list-style-type: disc; margin-left: 2.75pt; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">integrated public transportation terminal operation amounted to 41.0% of total revenue</span></span></div>
</li>
<li dir="ltr" style="background-color: transparent; color: black; font-family: Arial; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; list-style-type: disc; margin-left: 2.75pt; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">petrol station operations (31.7%) </span></span></div>
</li>
<li dir="ltr" style="background-color: transparent; color: black; font-family: Arial; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; list-style-type: disc; margin-left: 2.75pt; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">bus operations (27.3%). </span></span></div>
</li>
</ul>
<div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">Investor should know that PTRANS have a unique business for his integrated public transportation terminal operation! It can be differentiate by few segments which are advertisement and promotional events, the rental of outlets and kiosks, project facilitation fees, entrance fees and car-park fees. Advertisement and promotional events contributed around 51.8% to this segment which means most of its income is derived from advertising and promotional activities. Here’s some picture for you to understand what is A&P activities.</span></span></div>
<div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;"><img height="319" src="https://lh3.googleusercontent.com/bqShk34H-vH-9FZaJIwyGScomJUPaIw-mdIqQWqpV9cgVPhesnBLmN25UGpxgWEB51EqKq3pqHVskKjm_Gho53bNlOpcJyXqrJrZ3xVzzY3IQa2ETlE61EMjPNkAAvklkMxPfomLv_SZtCR10A" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="505" /></span></span></div>
<b id="docs-internal-guid-ba81ea1a-b023-7b86-f7f4-75f4f24e2ae8" style="font-weight: normal;"><span style="font-size: large;"><br /></span></b>
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">Beside, PTRANS plans to enhance Terminal AmanJaya Separately, the MD quoted that they would be seeking the expansion of its Terminal Amanjaya by 166k to a total 375k sf, enhancing the current bus transportation terminal into a retail and lifestyle hub. We think this would positively enhance values for the company longer term, allowing them to grow their rental income and advertising revenue from increased leasable area and promotional space. </span></span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 7.5pt; margin-top: 7.5pt; text-align: justify;">
<span style="background-color: transparent; color: #333333; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">Perak Transit intends to adopt new advertising and promotion (A&P) channels such as digital platforms with new media digital capabilities that can leverage on mobile, social and online technologies, as well as a planned increase of the A&P spaces for advertisement rental at Terminal AmanJaya.</span></span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 7.5pt; margin-top: 7.5pt; text-align: justify;">
<span style="font-size: large;"><span style="background-color: transparent; color: #333333; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">How about Bus Operation? Perak Transit is acquiring 25 new express buses for RM480,000 per 28-seater express bus, which will increase its fleet size to 171 buses by year-end, from 146 buses currently. The purchase will be financed with a term loan. What’s make the group bus operation segment so interesting is the group will acquire new bus route permits to expand the network of its services, which will include 16 new stage bus routes under </span><span style="background-color: yellow; color: #333333; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">the Stage Bus Service Transformation Programme</span><span style="background-color: transparent; color: #333333; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">. What is SBSTP? Have a look at the link provided below:</span></span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 7.5pt; margin-top: 7.5pt; text-align: justify;">
<a href="http://www.thestar.com.my/opinion/letters/2016/05/09/lifeline-for-stage-bus-service/" style="text-decoration: none;"><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">http://www.thestar.com.my/opinion/letters/2016/05/09/lifeline-for-stage-bus-service/</span></span></a></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 7.5pt; margin-top: 7.5pt; text-align: justify;">
<span style="background-color: transparent; color: #333333; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;"><img height="428" src="https://lh6.googleusercontent.com/RA7MIMCmujxKWo8aHYWprFcC8y5haX0mTgeYTumBcEcTsxWhl_fZ9Se7G2rdbyc2HqCY5hW7pQt6V95FxkNMVjMj-EPjVKYa0eOA9BqGJtJ7m4tUfKSvr4AK_5sgAC99BqIqZavATcMIrYsMxA" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="456" /></span></span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 7.5pt; margin-top: 7.5pt; text-align: justify;">
<span style="background-color: transparent; color: #333333; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">Source from: http://www.spad.gov.my/land-public-transport/buses/taking-bus/mybas</span></span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">Under the Stage Bus Service Transformation Programme (SBST), which was introduced in the National Land Public Transport Master Plan (2012-2030). The SBST Programme will be focused on improving operator viability and expanding bus route coverage through a migration of the current fare-box collection model to gross-cost service contract model. What is gross- cost service contract model?</span></span></div>
<b style="font-weight: normal;"><span style="font-size: large;"><br /></span></b>
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;"><img height="235" src="https://lh4.googleusercontent.com/7wiZSo-hv1m1SQ8keNF17mC_cbf0imxbQXvdm0YU439V9N-BsFGAtOFwc9kAAnZBjV2APMHBMRGb4XBihAYy9s0VIrNJv6ByD5JJzYVHIZYQOqdPnFtOP-U0ILKTHfUhjRWFA0ROkgQKiuehAA" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="602" /></span></span></div>
<div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="font-size: large;"><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">It means this is a </span><span style="background-color: yellow; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">profit guarantee business</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> which will be funded by our government!</span></span></div>
<b style="font-weight: normal;"><span style="font-size: large;"><br /></span></b>
<br />
<div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">Last but not least, currently PTRANS has 4 petrol station operation and all of these petrol station is a great synergy with the bus operation! Everyone one know that petrol station always provide a good income, so we skip this part.</span></span></div>
<div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;"><img height="209" src="https://lh6.googleusercontent.com/CaZtn6PNPSyhI1RfZvU3HvkeyzaJrKGRw9-k2W-77be9OoDfEsDyWe6e4Hmin0dJL70SUy9ZTivYuD8SY_rK6F4codohK9oJ0hlDLlSp1QoqVMAij3J6FjYMtS5UE4zPlH0jXQ3zS5Pkhwfo9w" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="518" /></span></span></div>
<div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">Since PTRANS was listed on Bursa Malaysia, company has acquired 3 piece of land to duplicate the business model from Terminal Amanjaya to other places. </span></span></div>
<b style="font-weight: normal;"><span style="font-size: large;"><br /></span></b>
<br />
<div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="font-size: large;"><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">1</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: underline; vertical-align: super; white-space: pre-wrap;">st</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;"> Land Purchase at </span><span style="background-color: yellow; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">KAMPAR</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">, PERAK</span></span></div>
<div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="font-size: large;"><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;"><img height="332" src="https://lh3.googleusercontent.com/lCTxrHe2PD-tA0s9B9mD-DbuDR6wcgxyr5AjjUi3mQGSHDiMCMWw4Y2qEs4QIUh43LLxwGa6YkP0aWpbCXw4c5nLs-DMldUllZC8eWui7lCmz4v5_hgFHfBqntPsZarYTaYgUNBlAOOgUL2Tqw" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="292" /></span><img height="59" src="https://docs.google.com/drawings/d/sbWIkVCzcl2sgvNVXS42Nug/image?w=52&h=59&rev=1&ac=1" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="52" /></span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">The new Terminal Kampar is located approximately 32km away from Terminal AmanJaya in Meru Raya. Terminal Kampar is expected to ride on its own growing population within that locale from increased upcoming economic activities. The Group acquired 3.72ac of land in Kampar for RM1.3m in Jan 2016 and has obtained the Development Order (DO) in May 2016, completion by mid FY18. </span></span></div>
<b style="font-weight: normal;"><span style="font-size: large;"><br /></span></b>
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="font-size: large;"><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">The Terminal Kampar construction cost of RM128.3m will be funded by part of the IPO However, based on an extrapolation of Terminal AmanJaya which has a plot ratio of 0.58x, Terminal Kampar could have a GFA of 93,259sf, which we reckon could be on a very conservative side. If we apply the average FY16-17E A&P revenue psf of RM107/psf for Terminal AmanJaya and applying a 10% discount rate, with contributions estimated </span><span style="background-color: yellow; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">to commence by Aug 2018, this will add another RM3.7-8.4m to FY18-19E</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> gross profit or 8-15% or FY18-19E gross profit. </span></span></div>
<b style="font-weight: normal;"><span style="font-size: large;"><br /></span></b>
<br />
<div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="font-size: large;"><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Why KAMPAR? Kampar town has been identified as a suitable location for the next terminal due to its ever growing population driven by increased economic activities from </span><span style="background-color: yellow; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">higher learning institutions</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> such as TAR College, Universiti Tunku Abdul Rahman (UTAR), Westlake International School (WIS), while upcoming institutions include UCSI University and Metropolitan College! With huge pool of students, PTRANS will benefit from both A&P activities and Bus operation! Apart from that, those who want to visit a mall have to travel all the way to IPOH, with this new terminal lifestyle hub, it will feature with leisure components such as hotel, cinema, bowling alley, gymnasium, badminton court and shopping complex. </span></span></div>
<b style="font-weight: normal;"><span style="font-size: large;"><br /></span></b><br />
<div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="font-size: large;"><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">2</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: underline; vertical-align: super; white-space: pre-wrap;">nd</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;"> Land Purchase at </span><span style="background-color: yellow; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">TRONOH</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">,PERAK</span></span></div>
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<span style="font-size: large;"><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">The Sale Land is strategically located </span><span style="background-color: yellow; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">in Tronoh, Perak, along the Ipoh-Lumut highway.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> The State Government of Perak has plans to transform Perak into a knowledge-based economy which includes plans to develop the state as an </span><span style="background-color: yellow; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">education hub</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">. In press statement issued by Investment Perak in March 2013, the State Government of Perak was in process of </span><span style="background-color: yellow; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">marking up Kampar, Ipoh and Tronoh as an education triangle.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> In line with the said transformation plans, a growing list of both private and public universities has been established within the vicinity of these areas. The Sale Land is located </span><span style="background-color: yellow; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">nearby the Universiti Teknologi PETRONAS (“UTP”)</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">. UTP is built on 400 hectares (990 acres) at Seri Iskandar, Perak. UTP has produced </span><span style="background-color: yellow; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">more than 14,000 graduates</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> and currently has an enrolment of over 1,200 foundation students, 6,000 undergraduates and 1,200 international postgraduate students. The Sale Land is also located nearby the upcoming establishment of SEGi University College (“SUC”) which would open its branch campus in a 20-hectare site near Tronoh. As stated in Section 2.8 of this announcement, the SPA is conditional upon the execution of a joint venture agreement between Pasti Kenari and MB Inc in accordance with the Principal Agreement. The joint venture between Pasti Kenari and MB Inc entails the potential development of several parcels of land earmarked for a </span><span style="background-color: yellow; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">mixed development including housing and development project</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> adjacent to the Sale Land. Subject to the completion of the Proposed Acquisition, the Group </span><span style="background-color: yellow; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">plans to develop the integrated public transportation terminal in Tronoh, Perak in the next five (5) years</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">. The up and coming potential development of Tronoh, Perak augurs well to the Group’s plans in developing an integrated public transportation terminal in the same area. PTRANS intends to replicate its Terminal AmanJaya integrated public transportation terminal model located in Meru Raya, Ipoh to Tronoh site. At this juncture, PTRANS is </span><span style="background-color: yellow; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">unable to determine the construction cost</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> for the terminal to be built on the Sale Land as the construction project is still at its preliminary stage and the approvals have yet to be obtained from the relevant authorities.</span></span></div>
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<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">It is likely this future terminal in Tronoh will be larger than their current terminal and could possibly encompass a commercial hub similar to that planned for Kampar</span></span></div>
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<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;"><img height="276" src="https://lh5.googleusercontent.com/WwAw0Y7rGE9YUE_vcVBE5vmocqHC3Vbat2rhJMcmDQ_TG4q941dowAnGauoom0eZFo7lhyHSHcbTX79sWGnKnBurw5dBmg0Urs4UEkC7IoICxpl11odCOPUjqE9X1NBYvHEti2NCWSaL5_eONQ" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="485" /></span></span></div>
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<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;"><img height="404" src="https://lh6.googleusercontent.com/LjT4NeElkjKvdY8poRep4Z-zAd2eIsF_FQyNuWshSZPQ_MP-lYj00tVP_jwNSMVAqfq-RTUyKZ-WdVSa33qcKJ5egl1fJLVaLcEQIe06x1bwmGfMVM3SuqxQphkfRxyRzkyvr9tezLIWkmwzxA" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="563" /></span></span></div>
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<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">Construction :</span></span></div>
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<li dir="ltr" style="background-color: transparent; color: black; font-family: "Times New Roman"; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 700; list-style-type: upper-roman; text-decoration: underline; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">integrated bus terminal complex including </span></span></div>
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<li dir="ltr" style="background-color: transparent; color: black; font-family: "Times New Roman"; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 700; list-style-type: upper-roman; text-decoration: underline; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">a petrol station on the Sale Land </span></span></div>
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<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">NOTED : subject to the approval of the appropriate authorities</span></span></div>
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<div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="font-size: large;"><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">Another land purchased at </span><span style="background-color: yellow; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">BIDOR</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">,PERAK</span></span></div>
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<span style="font-size: large;"><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Approximately </span><span style="background-color: yellow; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">4.901 acres in area</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">, situated on part of master title held under HS(D) 24184 PT 10587 Mukim Bidor (“Master Title”), Daerah Batang Padang, Negeri Perak. The Sale Land is currently vacant.</span></span></div>
<div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="font-size: large;"><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">The Proposed Acquisition is in line with the PTRANS Group’s business plans to </span><span style="background-color: yellow; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">develop integrated public transportation terminals in other cities</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">. The Sale Land which is located in Bidor, Perak will enable the PTRANS Group, with its experience and expertise gained from operating Terminal AmanJaya, to construct and develop integrated public transportation terminal in Bidor, Perak. </span></span></div>
<div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">At this juncture, PTRANS is unable to determine the construction cost for the terminal to be built on the Sale Land as the construction project is still at its preliminary stage and the approvals have yet to be obtained from the relevant authorities.</span></span></div>
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<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;"><img height="325" src="https://lh6.googleusercontent.com/q_cZSykAeW9d0U4viZD09Wp4UhiAPDTt1qhmH3e0T7BASqmezk3VvTIffQAqRf4uwFua9i2yjfg0Of8R5uEr_5mIuTjCpdcDU1FCsqGq-mQCYHHQy0FhXcfcT0DpyYexN7wcAirFyV8rpDkP9A" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="602" /></span></span></div>
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<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">WHY THERE?</span></span></div>
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<li dir="ltr" style="background-color: transparent; color: black; font-family: "Times New Roman"; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; list-style-type: upper-roman; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">Duplicate the location strategy which is near to the PLAZA TOL PLUS. With this, Perak Transit can make a huge billboard beside the PLUS highway and make A&P income.</span></span></div>
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<li dir="ltr" style="background-color: transparent; color: black; font-family: "Times New Roman"; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; list-style-type: upper-roman; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">Act as the First Integrated Terminal with lifestyle hub at BIDOR that include some entertainment such as Cinema, Fast food retails, grocery and so on.</span></span></div>
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<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">CONCLUSION:</span></span></div>
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<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="font-size: large;"><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Although the share capital is huge and the debt is high, but we can see that PTRANS future prospect is very exciting! The business has very high – barrier to entry and PTRANS take up about 98% market share of Ipoh stage-bus ridership. As PTRANS is appointed as a bus provider for </span><span style="background-color: transparent; color: #333333; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Stage Bus Service Transformation Programme by SPAD, the group is able to sustain the business with stable income in future.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> Besides, the Terminal AmanJaya will attract more event management agents and customers this year in conjunction with Visit Perak Year and the opening of MAPS. </span></span></div>
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<a href="http://www.ttgasia.com/article.php?article_id=29267" style="text-decoration: none;"><span style="background-color: transparent; color: blue; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">http://www.ttgasia.com/article.php?article_id=29267</span></span></a></div>
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<a href="http://www.mapsperak.com/" style="text-decoration: none;"><span style="background-color: transparent; color: blue; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">http://www.mapsperak.com/</span></span></a></div>
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<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;"><img height="276" src="https://lh6.googleusercontent.com/jedTtWum30KpqdBEWYwhhIONjj4yjteZ3cHl1Gzyh5vY6SwjrALNdwXZMul_Pi32LfDNHpHtJyzfG91WW0D8vUOmiNfeYfAkxsX0e8nkBryPoQnEp0bRyJsX1q7z_CtKeGonpiDDtK2dWT6SaA" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="276" /></span></span></div>
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<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">Do not forget another exciting Terminal Kampar which will commence at 2H2018 and the upcoming terminal at Tronoh and Bidor!</span></span></div>
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<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="font-size: large;"><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Due to the nature of business which requires large sums of capex invested for projects that serve national interest, Perak Transit is a </span><span style="background-color: yellow; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">beneficiary of Approved Service Project Status (ASPS)</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> tax whereby Perak Transit is able to </span><span style="background-color: yellow; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">claim up to 60% of capex invested from FY12-17</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> (5-year period). Historically, the company has received a total tax incentive of RM49.4m for FY13-15 and has a </span><span style="background-color: yellow; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">remaining RM88m to go which can be progressively utilised over a longer period</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">. The Group is</span></span></div>
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<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">going to apply for the ASPS tax incentive for the new Terminal Kampar and we are confident they will be successful as it is a national interest project which we have yet to impute. </span></span></div>
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<span style="background-color: transparent; color: black; font-family: "times new roman"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;"><img height="316" src="https://lh3.googleusercontent.com/iXWu8dOn5-8wmAuiHnRhCZ5abLKC3Jk56PkYX7CbKLj_sD0WPz3-OpuJ2aw5W56ZfbkRUCm8Q75yGowUtlbHdOkcFu5Y_3Ih_sY4RLWkSy4V6ESNQSAtIK0I8NiN-mrhsZKzk9vRTRSRekKuQg" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="665" /></span></span></div>
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<span style="background-color: transparent; color: black; font-family: "calibri"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">This is not a buy call, please seek the advice from your broker.</span></span></div>
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<span style="background-color: transparent; color: black; font-family: "calibri"; font-style: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: large;">Trade at your own risk.</span></span></div>
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<span style="font-family: "arial"; font-size: large; white-space: pre-wrap;">笔者</span><br />
张无忌</div>
Simple Investinghttp://www.blogger.com/profile/07534303062433189556noreply@blogger.com3tag:blogger.com,1999:blog-5636583082398679377.post-89062526730084803402017-04-13T04:48:00.001-07:002017-04-13T04:57:17.864-07:00ML Global容光焕发!首炮文章 by 张无忌 <div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
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<span style="background-color: white; color: #333333; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="220" src="https://lh4.googleusercontent.com/vvn4ob6EK8DAnaSrFYOgTnG7AF57QaJeje6qpmOTZovvHk3TAQ4qVTHAU845A-XBAzIQHvLgQRmuW89H0_0IwBcjoFsnLUB38w5jaw8UQy-Rxh96QqTyS26Smmw2wEzCgcjYbUf8BuJAngYOgg" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="338" /></span></div>
<div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="background-color: white; color: #333333; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">相信大家都懂KERJAYA最近股价一直上升都是有赖以DATO TEE ENG HO这个白武士从E&O老板手中把原本盈利不稳地的FUTUTECH (KERJAYA前称) 转换成一间散户及投行追捧的建筑公司。自从DATO TEE把KERJAYA带进来,股价从RM1.30飘升到现在RM3.00! 散户都在想如果早一点知道买进那就好了,多希望可以买到像这样的公司呀。但是今天向大家介绍这间公司,有很大的可能可以成为像KERJAYA那样的另外一间公司!它就是MLGLOBAL, 大家从来都没注意过的公司!</span></div>
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<span style="background-color: white; color: #333333; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">相信在雪隆一区的人民都有听过一间名声赫赫有名的发展商 LBS BINA ,林木生集团。LBS是专攻AFFORDABLE HOUSING的一间发展商,相信大家可以一直看到林木生集团的名字出现在各大报章,名声响亮及投行最爱让LBS的股价上升不少。看看下图是不是觉得LOGO很熟悉呢。</span></div>
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<span style="background-color: white; color: #333333; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="194" src="https://lh3.googleusercontent.com/ONcGxmOfe1n4S2IR1c8fDbtPLPV39Ab1VpLkw8fLJccLwh2Cxqe7EWiN0u9aw8KMKVSIJJAAjwbzSXcREGFTcO8WWkHWmOUc9Ubi3nCtjSbiID3KxaUDXZh1-_DYnobJ0wpBuCrx16I0Eu4TUQ" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="292" /></span></div>
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<span style="background-color: white; color: #333333; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">就在2016年9月,LBS BINA把自己的建筑公司MITC ENGINEERING的75%股权纳入MLGLOBAL里面。</span><span style="background-color: transparent; color: #505050; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">ML GLOBAL將以發新股及優先股支付。林木生集团和MITC工程董事經理林利杰分別持有MITC工程75%和25%股權</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">MLGLOBAL以3亿令吉收购MITCE建筑公司后,身兼林木生集团董事经理的丹斯里林福山,现在也是MLGLOBAL的最大股东,而且股权已经超过33%,但是大家不必担心,丹斯里林福山曾在报导透露,他不可能强制收购此公司!最重要的是此举动导致MLGLOBAL的订单暴涨至总16亿令吉,盈利至少可维持贡献两年。当然肥水不如外人田,其中有60%的合约就是林木生集团旗下项目!</span></div>
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<b style="font-weight: normal;"><br /></b></div>
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<span style="background-color: white; color: #444444; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">也在2016年7月15日,MLGLOBAL旗下的子公司Vintage Tiles Industries制造业由于在競爭激烈的环境中营运。</span><span style="background-color: transparent; color: #444444; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">决定</span><span style="background-color: white; color: #444444; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">結束瓦片制造與貿易业务操作可减少亏损,並改善公司整体現金流。这也说明了公司</span><span style="background-color: white; color: #333333; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">已经放弃屋瓦制造贸易,转攻建筑业。此举动是值得赞许的,这样集团才能更专注!丹斯里</span><span style="background-color: transparent; color: #555555; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">林福山自己也披露,建筑业务的发展前景良好,相信MLGLOBAL能标得更多的政府建筑合约,因此对建筑领域保持相当乐观的态度。</span></div>
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<span style="background-color: transparent; color: #555555; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">这里丹斯里说到了重点!大家必须知道林木生家族与政府的关系不浅,从LBS可以获得</span><span style="background-color: white; color: #444444; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">我的雪蘭莪房屋計劃,与環球房產管理私人有限公司(Worldwide Property Management)攜手進行雪蘭莪依約(Ijok)城鎮發展項目,發展總值約34億3000萬令吉!再来又有最近与YPJ种植私人有限公司发展柔佛KOTA TINGGI的541英亩土地,发展总值26亿令吉,涵盖住宅和商业单位,包括“柔佛人民房屋” ( PERUMAHAN RAKYAT JOHOR)。过后林木生集团也是政府近期推出的数字自由贸易区(DFTZ)的主要受益者,在距离吉隆坡国际机场不到20公里的龙溪(Dengkil),拥有高达633英亩地。从这几件事看来,ML GLOBAL很大的机会可以得到一些PRIMA和PPAIM 的房屋建筑订单,再不然可能也可以从基础建设比如LRT和MRT上分得一杯羹,就像GKENT之前从来没有涉及过这些项目,因为老板和我国首相是”GOLFING BUDDY”而获得高达60亿的订单!股价节节上升!</span></div>
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<span style="background-color: white; color: #444444; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="281" src="https://lh3.googleusercontent.com/v4tXKCMgsbLXCfE86ZR8QmUjgUWWi_bWuhwCejHtBmeOqzu4BBBAFKoEqA_re3B2jWoVonTNTpq1Ug86fIvvAXI5v7JlIR8ulQMaKaB7ub6qdWuYpKDZgUkyw9afJFh8KwJg6et7-7GaRkGHAw" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="602" /></span></div>
<div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="background-color: white; color: #444444; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">除了政府建筑合约,再看看林木生集体本身的发展计划。2017林木生集团对房产前景乐观,放眼年內推出12个计划,总值23亿4900万令吉!通常建筑费用介于发展价值的1/3 或 1 /4,这也就等于高达10亿的订单!加上那些政府房屋计划都是长达10至15年的计划,这也代表ML GLOBAL在未来15年不怕没有工程!</span><span style="background-color: transparent; color: #444444; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">ML GLOBAL </span><span style="background-color: white; color: #444444; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">可指望于林木生集团的发展计划成长来吃糊。林木生集团强劲的新工程流将为ML全球带来可持续性的建筑合约,从而支撑其盈利和股价表现。</span></div>
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<span style="background-color: white; color: #444444; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">加上丹斯里林福山曾经在报章说过,ML GLOBAL拥有先进的机械和技术人才,提供更多的商业机会,并可以竞标更大规模的外部建筑工程。</span><span style="background-color: transparent; color: #444444; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">而且</span><span style="background-color: transparent; color: #333333; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">MLGLOBAL当然不会“陪太子读书”,所投标的项目都是有相当的把握,LBS集团旗下项目获准成功率为80%,而集团以外的项目投标的成功率也超过50%。该集团在MITCE建筑公司的加入后,消费者的产业投诉案例已大幅降低,因此对MLGLOBAL是个利多。</span></div>
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<span style="background-color: transparent; color: #333333; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">那么ML GLOBAL的PROFIT MARGIN会不会很高呢?</span></div>
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<span style="background-color: white; color: #444444; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">由于ML GLOBAL 没有清楚划分CONSTRUCTION的PROFIT MARGIN,所以我们拿总3个季度的营业额及盈利,对比总4个季度的营业额及盈利</span></div>
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<span id="docs-internal-guid-62fa7df3-6720-3bde-37e4-ff07753a92a5"><span style="background-color: white; color: #333333; font-family: "times new roman"; font-size: 12pt; vertical-align: baseline; white-space: pre-wrap;"><img height="499" src="https://lh4.googleusercontent.com/RmctPC_vHPADzqXCcbE2H1un4b82xJu60E6ZVR0IDuKjiFOzLnuerGUYurnbpIUwvNs587TmDOEaa6aPaUVie4OoY29DW7Kt9KtYChPftOtjD2B3Rl9zEpJcyQS2Sewr0FN6E_tS" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="602" /></span></span></div>
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<table style="border-collapse: collapse; border: none;"><colgroup><col width="138"></col><col width="117"></col><col width="151"></col><col width="151"></col><col width="151"></col></colgroup><tbody>
<tr style="height: 14pt;"><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">CONSTRUCTION</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td></tr>
<tr style="height: 14pt;"><td style="background-color: white; border-bottom: solid #000000 0.5pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0.5pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">(RM'000)</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0.5pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0.5pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0.5pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td></tr>
<tr style="height: 14pt;"><td style="background-color: white; border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Quarter</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">REVENUE</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">GROSS PROFIT</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">PROFIT</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Profit Before Tax (%)</span></div>
</td></tr>
<tr style="height: 14pt;"><td style="background-color: white; border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">4</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">87,885 </span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">10,527 </span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">9,759 </span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">11 </span></div>
</td></tr>
<tr style="height: 14pt;"><td style="background-color: white; border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">3</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">27,232 </span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">6,000 </span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">5,986 </span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">22 </span></div>
</td></tr>
<tr style="height: 14pt;"><td style="background-color: white; border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">单季度建筑盈利</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">60,653 </span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">4,527 </span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">3,773 </span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">6 </span></div>
</td></tr>
</tbody></table>
</div>
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<b style="font-weight: normal;"><br /></b></div>
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<span id="docs-internal-guid-62fa7df3-671f-89dc-72c0-369db3cf762e"> </span> <img height="512" src="https://lh6.googleusercontent.com/xtOEJ5Bx62MvWVQuzp2_vVcn00aHjTIGkIgVlt1QHxU6D-CWwcYl9ZX1S_21mZNnXUKEtSjnFEhhc8JtoMY5Qyj8gmHo9iX3-Vp7kpZ_m0O2q_kyvdSTAYGzxenKT5pAjW6ccLQM" style="border: none; font-family: "Times New Roman"; font-size: 12pt; transform: rotate(0rad); white-space: pre-wrap;" width="602" /></div>
<div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> </span><img height="435" src="https://lh6.googleusercontent.com/CqF2IdfULlp32J2Ui-oBcGhX6F54lRtnYR-cwZO9RfoAE9f8lBV6-Y_eS_Xm40XyHWBMXy4ddLTtfBM5VikrIHO4VF6OEOSEUUFR_XeavN9ixBIeow_QPlUXFBXeixZSyPgDMrIU" style="border: none; font-family: "Times New Roman"; font-size: 12pt; transform: rotate(0rad); white-space: pre-wrap;" width="602" /></div>
<div dir="ltr" style="line-height: 1.3800000000000001; margin-bottom: 10pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">从以上的简单计算我们可以看到ML GLOBAL的PBT只有6%,属于一般。 但是对ML GLOBAL来说但季度就有高达 60 MILLION的营业额及 3.7 MILLION 的 PBT是一个很大进步!但是我相信在把这建筑公司转换进ML GLOBAL 后,管理层应该会引进更新的技术来达到COST EFFECTIVE及得到HIGHER MARGIN PROJECT! 加上LBS集团本身庞大的PROJECT, ML GLOBAL受惠不浅。</span></div>
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<span id="docs-internal-guid-62fa7df3-671e-5365-921c-c3fea7260936"> </span><img height="663" src="https://lh5.googleusercontent.com/NbL6uRZA3Xo8oiApyyt9WgXAEnStc8Ty2WWPf2p22acZ2xm_9T1WgCcwzM9xS6VJUTKL0qF5nY88OjgVNgiCU4aCMuqlJDcEPJnwvIbjb4Wj8G7jF_ve09WneKFVA9GxZuSwVCcg" style="border: none; font-family: Calibri; font-size: 11pt; transform: rotate(0rad); white-space: pre-wrap;" width="602" /></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: #444444; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">近期 ML GLOBAL与Alaf Cahaya发展私人有限公司签署联营协议,以共同将雪州八打灵一块占地1万8965.72平方米的土地发展成总值2亿7000万令吉的综合产业发展计划。该公司发文告指出,相关计划将分两期发展74个商业单位和398个服务公寓单位,而根据协议,集团将在2018年12月1日前完成首期商业单位的建设工作,并支付地主现拖欠主要承包商的1975万2788令吉和大华银行的800万令吉贷款。</span><span style="background-color: transparent; color: #444444; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: white; color: #444444; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">除结算单位外,ML全球将享有整个发展计划的所有销售所得(包括UNBILLED SALES)。 看来ML GLOBAL也会在 PROPERTY DEVELOPMENT有所作为,在丹斯里林福山的领导之下,相信要把ML GLOBAL的发展项目做好一点都不困难!</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<b style="font-weight: normal;"><br /></b></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: #444444; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">股价在LBS 把建筑公司纳入ML GLOBAL就偷步上升!相信有不少投资基金也看中了这金鸡!</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: #444444; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="273" src="https://lh3.googleusercontent.com/bjngfMljaE_zh77zRj-kjbztOozsxXMQIwqLygNFNHPql1yQEgR5reLRGGJKuv7B_na7pMbHpJ5tNRVocx0gyNFsG_e-RKYU8OIUafHWUbyDhpJu4hdSHCbKkgmcWH7hUSqfGRko2VK-hojFpA" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="576" /></span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<b style="font-weight: normal;"><br /></b></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: #444444; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">在今年最新的报导中,</span><span style="background-color: white; color: #505050; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">林木生集团现在持有MLGLOBAL 56.4%的股权,截至2016年底有19億2000萬令吉訂單,未進賬訂單達12億6000萬令吉。才短短3个月,MLGLOBAL订单又在增加!大家也可以看看ML GLOBAL的网页,执行了不少PROJECT!</span></div>
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<b style="font-weight: normal;"><br /></b></div>
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<span id="docs-internal-guid-62fa7df3-671c-50ad-7650-8ec9cc92ef53"> </span><img height="541" src="https://lh6.googleusercontent.com/1QlzaV7FpbOgftnSdt0cdfRuLtsOxHZbL-rrcW83tzQOfoz7Ec893Utk7DtQiyWGl_uISuEWm12j6wiVvJO0Z7LkcXCt4wLWbNQlQPN_xoAEyGDEwTnU7ZrMbvFsHAUwh0SJnz-u" style="border: none; font-family: Calibri; font-size: 11pt; transform: rotate(0rad); white-space: pre-wrap;" width="589" /></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: #505050; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">丹斯里林福山最近一直持续增持股权,而前执行长DATO BEH HANG KONG也开始在卖他的股权,但是是卖给谁呢?ML GLOBAL的前景如何,相信大家也可以看到,我们就拭目以待吧!</span></div>
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<b style="font-weight: normal;"><br /></b></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: #505050; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">此文章纯属分享,没有任何买卖建议。</span></div>
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<br />
<span style="font-family: "arial"; font-size: large; white-space: pre-wrap;">笔者</span><br />
张无忌<br />
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Simple Investinghttp://www.blogger.com/profile/07534303062433189556noreply@blogger.com0tag:blogger.com,1999:blog-5636583082398679377.post-61323656989911676262017-04-06T23:52:00.001-07:002017-04-06T23:54:47.251-07:00[XINHWA]一个受惠于"一带一路"之网购平台的物流股<h1 dir="ltr" style="line-height: 1.68; margin-bottom: 6pt; margin-top: 24pt;">
<span style="background-color: white; color: #222222; font-family: "arial"; font-size: 27pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><iframe allowfullscreen="" class="YOUTUBE-iframe-video" data-thumbnail-src="https://i.ytimg.com/vi/sikJ2rcPuGM/0.jpg" frameborder="0" height="266" src="https://www.youtube.com/embed/sikJ2rcPuGM?feature=player_embedded" width="320"></iframe>
推小型商品网购网站 新华冀1年收支平衡</span></h1>
<div dir="ltr" style="line-height: 1.92; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: #222222; font-family: "arial"; font-size: 27pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img alt="推小型商品网购网站 新华冀1年收支平衡" height="375" src="https://lh3.googleusercontent.com/uD1gq1tjVK1DcHez64BHHkOkHewUCURAIJ4ayEUY2B8OM0MxunUWIS6p-OF8rOxrBT0QIwORs7N8U_ztTtbGwsihZfFmTisEXNI0dhGuGR4NtbQdvsZtIX7bhJwaV4yagrgedypL" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" />
</span><span style="background-color: #f0eee9; color: #555555; font-family: "stheiti"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">苏国民(左起)、黄益泉、浙江义乌购电子商务公司总经理王建军、首相署马来西亚中小企业拓展中心(SAME)首席执行员符策勤,为www.e5buy.com主持推介礼。(摄影:曾鉦勤)</span></div>
<div dir="ltr" style="line-height: 1.92; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: #555555; font-family: "stheiti"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">(吉隆坡31日讯)新华控股(XINHWA,5267,主板贸服股)今天推介首个小型商品B2B网购网站「www.e5buy.com」,预计一年內达到收支平衡。</span></div>
<div dir="ltr" style="line-height: 1.92; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: #555555; font-family: "stheiti"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">新华控股董事经理黄益泉透露,新网站的设置成本耗资40万令吉,公司將视这项新业务发展的情况决定是否投入更多的资金。</span></div>
<div dir="ltr" style="line-height: 1.92; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: #555555; font-family: "stheiti"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">同时,黄益泉也说,该公司的电子商务平台开跑后,保守估计每月有超过2000个集装箱將商品从中国义乌运送到我国。</span></div>
<div dir="ltr" style="line-height: 1.92; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: #555555; font-family: "stheiti"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">黄益泉是在e5Buy网站推介礼后的记者会上,发表上述谈话。列席者还有新华控股首席財务员郭宝挥,以及义乌购电子商务董事经理苏国民。</span></div>
<div dir="ltr" style="line-height: 1.92; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: #555555; font-family: "stheiti"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">新华控股是3月24日宣佈,以50万令吉收购义乌购电子商务有限公司的50.01%股权。</span></div>
<div dir="ltr" style="line-height: 1.92; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: black; font-family: "stheiti"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">入驻义乌市场</span></div>
<div dir="ltr" style="line-height: 1.92; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: #555555; font-family: "stheiti"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">根据与中国浙江义乌购电子商务公司签订10年合约,马来西亚义乌购电子商务获得「义乌购」品牌的使用权,並可进入义乌商品市场的產品和供应商资料库。</span></div>
<div dir="ltr" style="line-height: 1.92; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: #555555; font-family: "stheiti"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">与此同时,黄益泉称,「电子商务是我们非常新的一项业务,我们尚未对该项业务的营业额作出预测。我们明白虽然起步將会比较困难,但电子商务目前正在快速发展,我们有信心现在是进场的好时机。」</span></div>
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<span style="background-color: white; color: #555555; font-family: "stheiti"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">他也补充说,未来3年,该公司將专注於在我国发展这项新业务,以確保网站能够在这里稳定经营。它们有信心e5buy.com能够在我国成长成为杰出的电子商务网站。</span></div>
<div dir="ltr" style="line-height: 1.92; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: #555555; font-family: "stheiti"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">「电子商务与我们现有的业务有许多共同的地方,这项新业务能够为我们的货运服务带来更多的发展机会。」</span></div>
<div dir="ltr" style="line-height: 1.92; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: #555555; font-family: "stheiti"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">新华控股不排除未来会將电子商务业务拓展到其他东南亚国家,例如印尼、菲律宾、越南和泰国。</span></div>
<div dir="ltr" style="line-height: 1.92; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: #555555; font-family: "stheiti"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">询及e5buy.com在大马的优势,黄益泉指出,通过与浙江义乌购电子商务公司的合作,网站坐拥现成的供货资源,一上线就可提供来自於约7万5000名供货商的超过180万种商品。</span></div>
<div dir="ltr" style="line-height: 1.92; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: #555555; font-family: "stheiti"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">该网站主要面向我国商家,以马幣计价,提供小型商品批发服务。网站显示,以海运的方式,从下订单到货物送达,需要14至20天时间。</span></div>
<div dir="ltr" style="line-height: 1.92; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: #555555; font-family: "stheiti"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">另外,苏国民表示,「若选择海运的方式,我们提供免费的货运服务,而空运服务则需另外计费。」</span></div>
<div dir="ltr" style="line-height: 1.92; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: #555555; font-family: "stheiti"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">位於中国浙江的义乌购商品市场,是小型商品供应商的聚集区,吸引来自全世界的客户到此採购。e5buy.com除了让本地商家能够使用网购的方式从该市场购买货品,更希望能够將我国商品带到义乌。</span></div>
<div dir="ltr" style="line-height: 1.92; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: #555555; font-family: "stheiti"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">苏国民指出,他希望能让我国商品入驻义乌购大宗商品市场,藉助该市场的客流量,帮助我国商品到达全世界。</span></div>
<div dir="ltr" style="line-height: 1.92; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: #555555; font-family: "stheiti"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">「我们正与首相署马来西亚中小企业拓展中心(SAME)进行討论,並將面向中小型企业开办课程,吸引我国商家入驻义乌购。中国方面已允诺將免除我国商家首年的入驻费。」</span></div>
<div dir="ltr" style="line-height: 1.92; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: white; color: #555555; font-family: "stheiti"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">大马也计划在浙江义乌购商品市场开设大马商品展览厅,以展示我国商品,並在e5buy.com开闢我国商品专页。
转载自东方日报:<a href="http://www.orientaldaily.com.my/business/cj11252190">http://www.orientaldaily.com.my/business/cj11252190</a>
<span id="docs-internal-guid-03c09efe-46ac-f5bc-4762-79bef8217106"><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; vertical-align: baseline;"><img height="319" src="https://lh5.googleusercontent.com/g7YBQkBymNouyWG-79nQyp2zXubSBTjV_Hd5jPgIAihFvKWvQbeR9BypGD2QYYWIZGXl8Z7zifR2VC_dINkChbLHrAhwiLShY8ChVEM3NAsLVK79mRYaANDbMSE5yCocSklps4AM" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; vertical-align: baseline;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: #1155cc; font-family: "arial"; font-size: 11pt; vertical-align: baseline;"><a href="http://www.e5buy.com/" style="text-decoration-line: none;">http://www.e5buy.com/</a>
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义乌属于一带一路-新丝绸之路的起点</div>
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当今物流股如此备受市场看好是因为网购所带动大量的物流需求,如今XINHWA却拥有物流和网购平台于一身,本人相信这协同效应将会很显著的发挥。</div>
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<span style="color: black; font-family: "arial"; font-size: large; vertical-align: baseline; white-space: pre-wrap;">笔者</span><span style="color: black; font-family: "arial"; font-size: large; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="color: black; font-family: "arial"; font-size: large; vertical-align: baseline; white-space: pre-wrap;"><img height="87" src="https://lh3.googleusercontent.com/stwZoK8T0Sr6kNFdAbilvcUsJA7s7hoTzkK0FYWk5iispiN_aT09MYmWX3t2oA6yo2vjxGQ8_awE9mawZ1o0faaL9Mtg45AH4438UGgMP028kGmHWOgCfMGHEMEEr2QuhhGXhzIE" style="border: none; transform: rotate(0rad);" width="188" /></span>Simple Investinghttp://www.blogger.com/profile/07534303062433189556noreply@blogger.com0tag:blogger.com,1999:blog-5636583082398679377.post-57716569445876856562017-03-31T01:14:00.003-07:002017-03-31T02:03:59.660-07:00MICROLINK能够受惠于FINTECH吗?<div dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">MICROLINK SOLUTIONS BHD</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="204" src="https://lh5.googleusercontent.com/dLtyMdixrFhnl2gwUuQkdxEHn9IjMq8NMzIVfHHZEoSzgvmO_6fCe9YEyz3lyINyjzL6zOFgq-n1N_uxvv-668AyPrPY0cCDFg3i_0E0ybZ-_gbXcgwsZl6v29svBELJ2GfYaXxL" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">MICROLINK SOLUTIONS BHD成立于1994年,是OMESTI GROUP拥有MICROLINK SOLUTIONS BHD 63%的股权,所以是OMESTI GROUP旗下的公司之一,在2006年上市于bursa 主板。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="746" src="https://lh4.googleusercontent.com/nKwk7VAZkvqWPSAaazIn2OuOFa56iRjsjKB8E2n0aoaEJVgSgWU17Dml5_6zyrO6W1s5gZdLhJBRKD14EnIkTtF-88tmjQxADjEP16DyKnEIMVSciV0_X7A3_s3Ouf0W-bF19jpG" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="623" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">MICROLINK SOLUTIONS BHD是一家有技术累计的老牌科技公司,金融科技解决方案经验高达20年以上,所以MICROLINK SOLUTIONS BHD能够受惠于近期大马很火红的FINTECH趋势。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">第一项业务:FINTECH</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="832" src="https://lh6.googleusercontent.com/ZwUAEpy8fGbhmTFrRNRCwsJbhWCDlamtAAcENbDgXAfcZiP7ANiXf572trib7lcy6pFGBi1B64QCfCzhLbmNwxa-_CUd9qPjhpf1sR3LBfE-3dcUZzANYdWWrgYduIMZX4QOhUcJ" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="623" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">MICROLINK SOLUTIONS BHD的回教银行科技是与国际SAP一起共同研发而保险科技是与IBM国际公司一起共同研发。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">IBM国际公司相信大家都知道是因为巴菲特股神看好的老牌科技公司之一。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: #444444; font-family: "arial"; font-size: 10.5pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">SAP is the world leader in enterprise applications in terms of software and software-related service revenue. Based on market capitalization, we are the world’s third largest independent software manufacturer. Browse SAP facts and information below.</span><span style="background-color: transparent; color: #444444; font-family: "arial"; font-size: 10.5pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: #444444; font-family: "arial"; font-size: 10.5pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="265" src="https://lh5.googleusercontent.com/hgj6u3m4EBvljDOMHpxMfVWuj1zX200tk1x2bFawfi_v4aiJ3PLHMfwcIdb_lC2E-r9TeWz60EwGbFtUhBWEoTQclZvDE0AE5d5Y_OHx8OOueQQEFTgFI_v--_iQF7Iq9zVC6Csd" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="623" /></span><span style="background-color: transparent; color: #444444; font-family: "arial"; font-size: 10.5pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: #444444; font-family: "arial"; font-size: 10.5pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">SAP和IBM这两家都是鼎鼎大名的国际公司,他们在马来西亚指定</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">MICROLINK SOLUTIONS BHD为FINTECH开发的合作伙伴。</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">第二项业务:大数据+智能城市解决方案</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="193" src="https://lh3.googleusercontent.com/XGN_AG_N1SRxbDwUgN79cZAEuB6qQGNbng6NujBCdAGwexZMtbSaScUM3TbiEUgPFC7jXkxO5W1zgzuMLEJnRUNkqx4m9EVrEUnVwR-wmnyr7egr4DIcCVTPwHbzwBIJCGrE7JVx" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="623" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="800" src="https://lh4.googleusercontent.com/FyolrWS7YdQy_UDMFMiTotE_inW6C5mA7HNcIUcZOm9dz6KK5o-qLu-jFt_ntteRa1AE7U9vQfiZu8UMDHa7Er2Kizfni3UBeG-_QN3fl7h7Pv4Qdyca9F6d5gsmaqTBcDUCk44z" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="623" /></span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">大数据+智能城市解决方案是与</span><span style="background-color: transparent; color: #444444; font-family: "arial"; font-size: 10.5pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">鼎鼎大名的国际公司合作如AMAZON,IBM,ORACLE,MICROSOFT.</span><span style="background-color: transparent; color: #444444; font-family: "arial"; font-size: 10.5pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: #444444; font-family: "arial"; font-size: 10.5pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: #444444; font-family: "arial"; font-size: 10.5pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">第三项业务:科技硬体供应</span><span style="background-color: transparent; color: #444444; font-family: "arial"; font-size: 10.5pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: #444444; font-family: "arial"; font-size: 10.5pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="193" src="https://lh4.googleusercontent.com/Y66N3-izRk_QvKCYbzPAYKAefHUYOjVZOUFWkv1ZOGiNlXMMBua7ZMWMpeELtCLlP4WdB0Z_9jr-1xXq2avBU0sJQqKOULPQ8exbiexRQvakEVCGUMdQV_l40fak4RolGL18pfRh" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: #444444; font-family: "arial"; font-size: 10.5pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></div>
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<span style="background-color: transparent; color: #444444; font-family: "arial"; font-size: 10.5pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">第四项业务:科技创新一站式解决方案</span><span style="background-color: transparent; color: #444444; font-family: "arial"; font-size: 10.5pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: #444444; font-family: "arial"; font-size: 10.5pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="220" src="https://lh6.googleusercontent.com/bMweLmz3do8v8o-1r0mpW4r25FFjmgjWbYeoqCO_fIMaErLmCCUDSP84YYtiQqV5fWy3o6fE2BeX_uvKgHK3a2mF8p6U4yVOPCRSNDEiYMf0O0DKsxPE2EVRi91ZKOIbACBoRbnS" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="863" src="https://lh4.googleusercontent.com/mRP8vatRDgGqQGCMVOsv4lTqQu7syPZMEL4p2BbYiN06wU1Z-ZR4maKUi87Ek_6yqyGuVJAOcxacDcKNrgj-s0d5IklPqux3R8UNg_fxkcaCIzSO2_U128MTQLGeZJX9RV1i502r" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="539" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">公司这几年都在重组以及整合企业导致FY2016营业额新高但净利降低因为产品组合还在调整和一次性重组公司人事物的费用而下跌,这一系列的动作是为了未来更好营运的部署。科技公司好像 redtone,cuscapi,rev也是为了未来科技研发准备而年年亏损但MICROLN至少有正数的净利。</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">公司业务符合大马预算案数码经济的未来科技趋势,MICROLIN策略伙伴和客户都是非常知名的大咖。</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">金融服务客户包括bank rakyat,rhb bank,agro bank, bank persatuan,koperasi angkatan tentera,bank negara malaysia,takaful insurance,rhb insurance,prudential bsn takaful, amanah takaful,berjaya sompo,aia insurance etc</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">企业方案客户包括maxis,omesti ecourts,permodalan nasional berhad,polis diraja malaysia,ambank,pharmaniaga, AM metlife,petronas,tenaga nasional berhad,ocbc,u-mobile,jf apex</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">内部人士动向</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">管理层持有63%</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">老板近期买回</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="511" src="https://lh4.googleusercontent.com/Q06LsE6I84EeUSQDOGVcZrzU55po42OHN6d-jviQYjtvKvj5rGPBYkLZD9K3ABU_CKNat9UFzPAq282zSkv559KdmnCPvgA48XSBnqtO4ykpVPOSdrqLDNMcYy7U6cu_UGLO6BOI" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="337" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Private placement</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="47" src="https://lh6.googleusercontent.com/B0zIIUmkud84iew7jHOhXoNiRKLUkmjuFfIZxF8I6ICMtWt6LCULB4dku6vkHawEDXcUEDbZsNxLQTg961y-XfLfDlK3jMnZRrq_BSwwKO6rF5AbMRm0vBdMiaUJbHORaADlSU8Q" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">2017Q2内部员工以股代现金看好公司未来发展</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="152" src="https://lh4.googleusercontent.com/tiBM33K1xT9Ccy2ZLlwMWiGTrqz0msCPxtpgkh26Vwjt4nRObGDC_DYgWyngGXviHvivcsXrgPPrmeoq3VhXQozqP88bhRZAqMtT1jsx8hcQUelbsxSyzZovWQLo6VTgg0zxm8EQ" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">谈谈母公司OMESTI的远景是和马云一样,主要帮助中小企业科技化来提高竞争力</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="801" src="https://lh3.googleusercontent.com/mX3MaPkSVgoQgq5wfZbeUR80RYNGdXlAdh8rVejMPuuIKf9ykHcCPPXeYr0IfoyLuODTmrp59SQbCQAFdMC3CYHwQu-huiIe1sTkpACfl9E2KD0YpYOzJP8AqvnD1GtCBjWkJQfZ" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="685" src="https://lh4.googleusercontent.com/P5o0elKvjw-Del4yQYMbhNErJy1cT6-KlvbahvC2mdZXjeFA-FPWpdtCGgQwe8wFdLMG9hQcyjQjNwDRMz9P1sspiExHjViwHGQoQ5-LqRn22mU1vSjLnpp5cPg-x-KIuJzjUUQM" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="375" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">总结:</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="624" src="https://lh5.googleusercontent.com/lS2RJSGNGF5jQ4LBYzF0puYkFM2UdtFfC1H7hgk6ms_Jevw3hY9W7RayFqYYgVYo3BCI4mVjeS6pBksmM0-4FmXNS9hlHP44dFEGf_mmp9Up9YsDLd7NjPSSpMavlhG9jHd2AG0x" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="624" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="474" src="https://lh5.googleusercontent.com/EWO_UAnfqIeapXZM1nQXOtLOFz94CpxOXfa3E5hY8JrXLUWutFBBiIEQiA5qlAR_AUKyn9hp1IPOWjWC6N1i-v8Ld5jL54NsXc5rwjKSPEJKEocXmvbE1yMaIsfLe0rMYnNAwhYL" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="606" />
</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">未来几年都是数码经济的年份,MICROLINK SOLUTIONS BHD和OMESTI两母子能不能够受惠于这个大趋势呢?这个问题留给大家一起探讨了</span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="65" src="https://lh5.googleusercontent.com/mwWuzIc2nIZeNqQ_wk7-lXVR4FD7sLXHnAfWh5vg2ZZnC9f84IomTr1Z50nQJL6d9gbVgRFai9KiDE1Kolw3GUd4hxMKxESFhfWYYPv0o6wBf2CWnrWbuQ3BmE0icFc9TP2D1bXK" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="141" /></span></div>
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Simple Investinghttp://www.blogger.com/profile/07534303062433189556noreply@blogger.com0tag:blogger.com,1999:blog-5636583082398679377.post-17383153445907482152017-03-14T20:48:00.000-07:002017-03-14T20:48:18.785-07:00另一个角度来看待JAKS<div dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 24pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">Jaks</span></div>
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<span style="background-color: transparent; color: black; font-family: 'Microsoft YaHei'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">在</span><span style="background-color: transparent; color: black; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">2016</span><span style="background-color: transparent; color: black; font-family: 'Microsoft YaHei'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">年</span><span style="background-color: transparent; color: black; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">10</span><span style="background-color: transparent; color: black; font-family: 'Microsoft YaHei'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">月</span><span style="background-color: transparent; color: black; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">17</span><span style="background-color: transparent; color: black; font-family: 'Microsoft YaHei'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">日星期一,首次发布</span><span style="background-color: transparent; color: black; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">[</span><span style="background-color: transparent; color: black; font-family: 'Microsoft YaHei'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">浅谈</span><span style="background-color: transparent; color: black; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">]JAKS</span><span style="background-color: transparent; color: black; font-family: 'Microsoft YaHei'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">未来业绩是否开始增长</span></div>
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<a href="http://life1nvest.blogspot.my/2016/10/jaks.html" style="text-decoration: none;"><span style="background-color: transparent; color: #0563c1; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">http://life1nvest.blogspot.my/2016/10/jaks.html</span></a></div>
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<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">心得分享</span></div>
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<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">如果有留意笔者之前Jaks的文章,笔者当时计算Jaks是以2017和2018年的目标价为RM1.60。之后股价还未公布第四季度,股价却去到RM1.40。笔者算的是全年2017年业绩RM1.60, 业绩还未公布,股价却去到RM1.40,以当时的情况会怎么做?这个问题就留给各位读者去思考。笔者在分享会时,已经多次强调重点是盈利。</span></div>
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<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><img height="437" src="https://lh3.googleusercontent.com/mDmVlXKuC9ghV9Pn4Vxe-MFD9NWC0DcZWO3AfxzN-aEuDA945QwkaSNpoD8xT_Rrsp4y_TI7urTItHv-jvofXz8iHpsJsWpaJ6ftGX1_FGhfvA02WWXTkiuq4i4LiDAjFHxDJQBok1w5rk5erQ" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="246" /></span></div>
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<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">(这个是当天公布业绩时,笔者在12.38a.m.整理好的PDf)</span></div>
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<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">之后业绩公布时是亏损的,如果有做功课的朋友,会发现当时是一个机会。有读者私下问笔者,当时可否考虑,如果股价出现RM1,笔者也问了一句 “你是否是长期投资者“.</span></div>
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<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">原因如下:</span></div>
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<li dir="ltr" style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.295; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">第一,</span><span style="background-color: transparent; color: #333333; font-family: Arial; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Ang Lam Poah担任JAKS公司的董事总经理和集团首席执行官,当时购买自家公司股票从2016年6月1号一直到1月10号2017成本区</span><span style="background-color: transparent; color: red; font-family: Arial; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> RM 0.858到RM1.05</span><span style="background-color: transparent; color: black; font-family: Arial; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">是</span><span style="background-color: transparent; color: #333333; font-family: Arial; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">董事认为股价被低估的合理范围</span><span style="background-color: transparent; color: #333333; font-family: 'Microsoft YaHei'; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">。如果股价当时跌破RM1,是否愿意加码或持有等待回升,一般上这需要很强的心理素质和对该公司的了解和有没有信心持有。最坏的打算,短期股价未必会那么快回升该水平。</span></div>
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<li dir="ltr" style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt;">
<span style="background-color: transparent; color: #333333; font-family: 'Microsoft YaHei'; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">在业绩公布前,在22/2/17公布</span><span style="background-color: transparent; color: #1d2129; font-family: SimSun; font-size: 10.5pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">官有缘先生持有5.45%,之后两天增加到9.1%.一般上持有那么多是看好未来一到两年的业绩。</span></div>
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<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">根据以上因素是否愿意持有该股至少一年。</span></div>
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<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">题外话</span></div>
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<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">笔者一直都有留意Jaks的announcemnt, 发现到3月1号2017年,</span><span style="background-color: transparent; color: #333333; font-family: Arial; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Ang Lam Poah和</span><span style="background-color: transparent; color: #1d2129; font-family: SimSun; font-size: 10.5pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">官有缘都有出手加码在28.2.2017就是股价大跌时,也就跟</span><span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">巴菲特说的 – 别人恐惧我贪婪,别人贪婪我恐惧。</span></div>
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<span style="background-color: transparent; color: #333333; font-family: Arial; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Ang Lam Poah</span><span style="background-color: transparent; color: #1d2129; font-family: SimSun; font-size: 10.5pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">目前</span><span style="background-color: transparent; color: #333333; font-family: Arial; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">持有8.9%</span></div>
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<span style="background-color: transparent; color: #1d2129; font-family: SimSun; font-size: 10.5pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">官有缘目前持有13.228%</span></div>
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<span style="background-color: transparent; color: #1d2129; font-family: SimSun; font-size: 10.5pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">另外官有缘的太太</span><span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">MADAM TAN KIT PHENG也持有6.996%</span></div>
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<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 18pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">为何对Jaks那么有信心?</span></div>
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<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">我们先看construction part</span></div>
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<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">Construction part</span></div>
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<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;"><img height="180" src="https://lh4.googleusercontent.com/mBx4YDqzLmxTkD28saBaCtPSBNpzeTC9_jrR38hjAp_BFzVebxhNiUT4M9z--MEnjFJWeY-LEyB5LogI7OgDRN4pte8V2ib6_PdRA66s3dCrClYZ6zPJrEE4cQZ1xu3b5Kzuk5PvNMrk8Upu6Q" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="602" /></span></div>
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<span style="background-color: transparent; color: #222222; font-family: 'Microsoft YaHei'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Revenue RM</span><span style="background-color: transparent; color: #222222; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">457.9 million</span><span style="background-color: transparent; color: #222222; font-family: 'Microsoft YaHei'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">和RM49.9million的profit before tax</span><span style="background-color: transparent; color: #222222; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">, </span><span style="background-color: transparent; color: red; font-family: 'Microsoft YaHei'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">其中</span><span style="background-color: transparent; color: red; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">RM150.1million</span><span style="background-color: transparent; color: red; font-family: 'Microsoft YaHei'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">的Revenue和RM36million的profit before tax </span><span style="background-color: transparent; color: red; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">来自</span><span style="background-color: transparent; color: red; font-family: 'Microsoft YaHei'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">越南</span><span style="background-color: transparent; color: red; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">EPC</span><span style="background-color: transparent; color: red; font-family: 'Microsoft YaHei'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">建设。</span></div>
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<span style="background-color: transparent; color: black; font-family: 'Microsoft YaHei'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">Property Development</span></div>
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<span style="background-color: white; color: #333333; font-family: Roboto; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">The group's property development posted a substantially wider loss before tax of </span><span style="background-color: white; color: red; font-family: Roboto; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">RM20.2 million </span><span style="background-color: white; color: #333333; font-family: Roboto; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">in 4QFY16 compared with RM1.7 million in the previous corresponding quarter. The losses were impacted by competitive pricing, property market slowdown as well as </span><span style="background-color: white; color: red; font-family: Roboto; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">higher operating and financing expenses after the opening of EVOLVE Mall.</span></div>
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<span style="background-color: white; color: #333333; font-family: Roboto; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">With the mall in full operation during the year, there was also </span><span style="background-color: white; color: red; font-family: Roboto; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">higher depreciation charge</span></div>
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<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Depreciation 对比去年是增加double。</span></div>
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<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">Investment</span></div>
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<span style="background-color: white; color: #333333; font-family: Roboto; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">The company's investment division also made </span><span style="background-color: white; color: red; font-family: Roboto; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">a loss before tax of RM21.2 million </span><span style="background-color: white; color: #333333; font-family: Roboto; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">during the quarter under review, mainly due to two reasons — </span><span style="background-color: white; color: red; font-family: Roboto; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">an allowance of impairment of receivables of RM12.4 </span><span style="background-color: white; color: #333333; font-family: Roboto; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">million, and </span><span style="background-color: white; color: red; font-family: Roboto; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">unrealised loss of RM5.9 million </span><span style="background-color: white; color: #333333; font-family: Roboto; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">and realised loss of RM2.3 million caused by foreign exchange.</span></div>
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<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;"><img height="294" src="https://lh3.googleusercontent.com/l3DC8bQv0s9g9bdR_-3JHdBck32X81OEcy5HA2OqBnJyRwfUfGeZ9ZkuJDopS3vt92oaMdoEejgW46kYCyNpcCGxaC6WE8YBpAbFzc8ARftYQB_DfQ4ceXTMbXZbii8FgjYBCKHpBKPUgjt6tQ" style="-webkit-transform: rotate(0.00rad); border: none; transform: rotate(0.00rad);" width="602" /></span></div>
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<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">我们看到 property 提到的depreciation 增加两倍,interest expense 增加,但不多</span></div>
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<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Investment segment部分则是 impairment loss of trade receivable和unrealised loss on foreign exchange. 在 investment segment 部分出现unrealised loss 相信主要是Jaks借钱投资跟中国合作在越南工程的项目。</span></div>
<b style="font-weight: normal;"><br /></b><br />
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<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">季报已经提及</span><span style="background-color: transparent; color: red; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">RM150.1million</span><span style="background-color: transparent; color: red; font-family: 'Microsoft YaHei'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">的Revenue和RM36million的profit before tax </span><span style="background-color: transparent; color: red; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">来自</span><span style="background-color: transparent; color: red; font-family: 'Microsoft YaHei'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">越南</span><span style="background-color: transparent; color: red; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">EPC</span><span style="background-color: transparent; color: red; font-family: 'Microsoft YaHei'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">建设。之前笔者提到</span><span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">2017年开始平均明年将有</span><span style="background-color: transparent; color: red; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">450 million 越南工程带入</span><span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">,也就目前construction part的 revenue 贡献才RM150 million,也就是说将今年将出现3倍的Revenue,RM36 million x 3 = RM 108 million,就算2倍仍有RM72million.</span></div>
<b style="font-weight: normal;"><br /></b><br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 8pt; margin-left: -15pt; margin-right: -15pt; margin-top: 0pt;">
<span style="background-color: transparent; color: #555555; font-family: SimSun; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">笔者根据之前已有的计算,参考</span><a href="http://life1nvest.blogspot.my/2016/10/jaks.html" style="text-decoration: none;"><span style="background-color: transparent; color: #0563c1; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">http://life1nvest.blogspot.my/2016/10/jaks.html</span></a></div>
<div dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt;">
<span style="background-color: transparent; color: #555555; font-family: SimSun; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">计算2017年和2018年Revenue</span></div>
<div dir="ltr" style="margin-left: -5.75pt;">
<table style="border-collapse: collapse; border: none;"><colgroup><col width="45"></col><col width="125"></col><col width="123"></col></colgroup><tbody>
<tr style="height: 15pt;"><td style="background-color: white; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 0pt; border-top: solid #000000 1pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<br /></div>
</td><td colspan="2" style="background-color: white; border-bottom: solid #000000 1pt; border-left: solid #000000 0pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Revenue</span></div>
</td></tr>
<tr style="height: 15pt;"><td style="background-color: white; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<br /></div>
</td><td style="background-color: white; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">2017</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">2018</span></div>
</td></tr>
<tr style="height: 15pt;"><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">1</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> RM 266,000,000 </span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> RM 266,000,000 </span></div>
</td></tr>
<tr style="height: 15pt;"><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">2</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> RM 450,000,000 </span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> RM 450,000,000 </span></div>
</td></tr>
<tr style="height: 15pt;"><td style="background-color: white; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">3</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> RM 203,400,000 </span></div>
</td><td style="background-color: white; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> RM 203,400,000 </span></div>
</td></tr>
<tr style="height: 15pt;"><td style="background-color: white; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Total</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> RM 919,400,000 </span></div>
</td><td style="background-color: white; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> RM 919,400,000 </span></div>
</td></tr>
</tbody></table>
</div>
<b style="font-weight: normal;"><br /></b><br />
<div dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">如果RM919,000,000 分别只拿到10%,15%,20% profit</span></div>
<div dir="ltr" style="margin-left: -20.45pt;">
<table style="border-collapse: collapse; border: none;"><colgroup><col width="186"></col><col width="91"></col><col width="95"></col><col width="103"></col><col width="90"></col><col width="111"></col></colgroup><tbody>
<tr style="height: 15pt;"><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<br /></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 0pt; border-top: solid #000000 1pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<br /></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 1pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Property </span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 1pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Trading & </span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 1pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<br /></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<br /></div>
</td></tr>
<tr style="height: 15pt;"><td style="background-color: white; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<br /></div>
</td><td style="background-color: white; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Construction</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 1pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Development</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 1pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Manufacturing</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 1pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Investment</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 1pt; border-left: solid #000000 0pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<br /></div>
</td></tr>
<tr style="height: 15pt;"><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> Segment result </span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0.75pt; border-left: solid #000000 1pt; border-right: solid #000000 0pt; border-top: solid #000000 1pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> 91,000,000 </span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0.75pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 1pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> (26,582,000)</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0.75pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 1pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> 2,507,000 </span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0.75pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 1pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> (20,469,000)</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> 46,456,000 </span></div>
</td></tr>
<tr style="height: 15pt;"><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> Other income </span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 0pt; border-top: solid #000000 0.75pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0.75pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0.75pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0.75pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> 4,920,000 </span></div>
</td></tr>
<tr style="height: 15pt;"><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> Fianancial cost </span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0.5pt; border-left: solid #000000 0pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> (24,154,000)</span></div>
</td></tr>
<tr style="height: 15pt;"><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<br /></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 1pt; border-top: solid #000000 0.5pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> 27,222,000 </span></div>
</td></tr>
<tr style="height: 15pt;"><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> Taxtaion </span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0.5pt; border-left: solid #000000 0pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> (10,758,280)</span></div>
</td></tr>
<tr style="height: 15pt;"><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> Profti after Taxation </span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0.75pt; border-left: solid #000000 0pt; border-right: solid #000000 1pt; border-top: solid #000000 0.5pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> 16,463,720 </span></div>
</td></tr>
<tr style="height: 15pt;"><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<br /></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 1pt; border-top: solid #000000 0.75pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<br /></div>
</td></tr>
<tr style="height: 15pt;"><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">No of shares = 438,360,000</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<br /></div>
</td></tr>
<tr style="height: 15pt;"><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">PE = 10</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<br /></div>
</td></tr>
<tr style="height: 15pt;"><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">EPS = 0.037</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">10%</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Share price</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> 0.38 </span></div>
</td></tr>
<tr style="height: 15pt;"><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<br /></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">If sell property</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">share price</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> </span><span style="background-color: transparent; color: red; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">0.83</span><span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> </span></div>
</td></tr>
<tr style="height: 15pt;"><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<br /></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<br /></div>
</td></tr>
<tr style="height: 15pt;"><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<br /></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<br /></div>
</td></tr>
<tr style="height: 15pt;"><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<br /></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">15%</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Share price</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">1.18</span></div>
</td></tr>
<tr style="height: 15pt;"><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<br /></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">If sell property</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">share price</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">1.64</span></div>
</td></tr>
<tr style="height: 15pt;"><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<br /></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<br /></div>
</td></tr>
<tr style="height: 15pt;"><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<br /></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 1pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><br /></td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">20%</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Share price</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 0pt; border-left: solid #000000 0pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: red; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">1.98</span></div>
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<tr style="height: 15pt;"><td style="background-color: white; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<br /></div>
</td><td style="background-color: white; border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<br /></div>
</td><td style="background-color: white; border-bottom: solid #000000 1pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<br /></div>
</td><td style="background-color: white; border-bottom: solid #000000 1pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">If sell property</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 1pt; border-left: solid #000000 0pt; border-right: solid #000000 0pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">share price</span></div>
</td><td style="background-color: white; border-bottom: solid #000000 1pt; border-left: solid #000000 0pt; border-right: solid #000000 1pt; border-top: solid #000000 0pt; padding: 0pt 5.75pt 0pt 5.75pt; vertical-align: bottom;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: red; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">2.45</span></div>
</td></tr>
</tbody></table>
</div>
<b style="font-weight: normal;"><br /></b>
<div dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">以上是笔者的计算</span></div>
<ul style="margin-bottom: 0pt; margin-top: 0pt;">
<li dir="ltr" style="background-color: transparent; color: black; font-family: Arial; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: disc; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">如果以10% profit计算,股价在RM0.38,如果卖了Evolve Concept商场,股价就去到RM0.83。这个属于不合理范围,因为</span><span style="background-color: transparent; color: #333333; font-family: Arial; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Ang Lam Poah成本区</span><span style="background-color: transparent; color: red; font-family: Arial; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> RM 0.858到RM1.05也是director觉得undervalue才出手购买,</span><span style="background-color: transparent; color: black; font-family: Arial; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">跌回可能性很小。</span></div>
</li>
<li dir="ltr" style="background-color: transparent; color: black; font-family: Arial; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: disc; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">15%的利润也相当小,原因是根据季报</span><span style="background-color: transparent; color: red; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">RM150.1million</span><span style="background-color: transparent; color: red; font-family: 'Microsoft YaHei'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">的Revenue和RM36million的profit before tax </span><span style="background-color: transparent; color: red; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">来自</span><span style="background-color: transparent; color: red; font-family: 'Microsoft YaHei'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">越南</span><span style="background-color: transparent; color: red; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">EPC</span><span style="background-color: transparent; color: red; font-family: 'Microsoft YaHei'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">建设占了24%比例。</span></div>
</li>
<li dir="ltr" style="background-color: transparent; color: black; font-family: Arial; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: disc; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: 'Microsoft YaHei'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">所以笔者以20%为合理范围,股价在RM1.98,</span><span style="background-color: transparent; color: black; font-family: Calibri; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">如果卖了Evolve Concept商场,股价就去到RM2.45。</span></div>
</li>
<li dir="ltr" style="background-color: transparent; color: black; font-family: Arial; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: disc; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">为了强化财务状况,公司计划一年内脱售雪州阿拉白沙罗(Ara Damansara)的Evolve Concept商场,值得去留意是否卖出。</span></div>
</li>
<li dir="ltr" style="background-color: transparent; color: black; font-family: Arial; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: disc; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">笔者是看好未来2017和2018</span></div>
</li>
</ul>
<b style="font-weight: normal;"><br /></b>
<div dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">以上是笔者在星期天(12.3.17)KL分享会提到该股的一些资料,由于时间问题,未能提供完整资料,补上给当时出席的读者。另外,在25.2.17 JB分享会后一个星期,有出来跟笔者分享经验和心得的读者,笔者也有提到该股的一些分析。以上是有出席笔者的分享会才有的而外资讯,毕竟别人愿意花时间来聆听和分享他们的经验与心得。</span></div>
<b style="font-weight: normal;"><br /></b>
<div dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">另外,为何</span><span style="background-color: transparent; color: #1d2129; font-family: SimSun; font-size: 10.5pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">官有缘和他太太持股那么多Jaks? 跟笔者看上的可能是同一件事,之后笔者会分享给大家知道。需要时间去整理,会在25.3.17 JB Lifevest分享会分享,</span></div>
<br /><br />
<div dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt;">
<span style="color: black; font-family: "calibri"; font-size: 14.6667px; vertical-align: baseline; white-space: pre-wrap;">
笔者</span></div>
<div dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt;">
<span style="color: black; font-family: "calibri"; font-size: 14.6667px; vertical-align: baseline; white-space: pre-wrap;"><img height="71" src="https://lh6.googleusercontent.com/VQAzd65DfZKCqDo12Kb-2_p6vP3BtxI65fD5K7Ezm20Ms7vd5Y1jVzHc-Unt1W4vPtrXbGhAKae25UEYfmELOfp7QfXyij0XnLvQJOJYTWN7uRA3h7Vh0KB2gAaAdMDPUD-sKDzepTGCZfGUqA" style="border: none; transform: rotate(0rad);" width="129" /></span></div>
<br />Simple Investinghttp://www.blogger.com/profile/07534303062433189556noreply@blogger.com0tag:blogger.com,1999:blog-5636583082398679377.post-41431184043450447812017-02-21T01:14:00.001-08:002017-02-21T01:16:33.447-08:00KRONO今天出现黑马觉醒之量<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEicnVcnW8KSqptR9c16k78ErQLe_J6TCerdp9FQFBu-i4hM364vBs0Qg3Rh9fEogh0CBCn57k92tgDavNKP9MUzXrw52f6PdpiZIzq9G_B1PQJ_UNEJvDJKlNc_KNcPEDc8eMFta5Rd5ZY/s1600/6.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="338" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEicnVcnW8KSqptR9c16k78ErQLe_J6TCerdp9FQFBu-i4hM364vBs0Qg3Rh9fEogh0CBCn57k92tgDavNKP9MUzXrw52f6PdpiZIzq9G_B1PQJ_UNEJvDJKlNc_KNcPEDc8eMFta5Rd5ZY/s640/6.png" width="640" /></a></div>
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</span>KRONO今天出现黑马觉醒之量,创下2015年5月以来新高,由于昨日所发布的季度业绩正式开始纳入INDIA新子公司的盈利,管理层非常乐观看好未来前景如SMART CITY+CCTV推动大数据需求,甚至预计FY 2017的业绩表现将会再创历史高峰!目前主要的盈利贡献来自于SINGAPORE和INDIA,60%的Sale是以美金计价所以受惠于马币贬值。</span></div>
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<span data-offset-key="2t5po-0-0" style="font-family: inherit;">未来展望</span></div>
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<span data-offset-key="2kfp4-0-0" style="font-family: inherit;">The QIS Acquisition in October 2016 marked the beginning of a new phase of growth for the Group. Going forward, the Group will focus on improving its sales mix, building on its managed services segment, and targeting viable merger and acquisition opportunities, with a view to expanding throughout the region and driving long-term value for shareholders.The Group will recognise full year contributions of revenue and profit from QSI for FY’17. Barring unforeseen circumstances,the Group expects its FY’17 performance to surpass that of FY’16.<span style="font-size: 14px;">
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Simple Investinghttp://www.blogger.com/profile/07534303062433189556noreply@blogger.com2tag:blogger.com,1999:blog-5636583082398679377.post-59719565743224608352017-02-16T04:00:00.000-08:002017-02-16T04:00:40.379-08:00JHM终于获得航空认证<div dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt;">
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<a href="http://life1nvest.blogspot.my/2016/09/jhm.html" style="text-decoration: none;"><span style="background-color: transparent; color: #0563c1; font-family: Calibri; font-size: 10.5pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">http://life1nvest.blogspot.my/2016/09/jhm.html</span></a></div>
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<span style="background-color: transparent; color: #333333; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">2016年11月24日星期</span><span style="background-color: transparent; color: #333333; font-family: 'Microsoft YaHei'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">四, </span><span style="background-color: transparent; color: black; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">[心水股追踪]JHM 2016年第3季度业绩即时点评-再创历史新高</span><span style="background-color: transparent; color: black; font-family: 'Microsoft YaHei'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">!</span></div>
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<a href="http://life1nvest.blogspot.my/2016/11/jhm-20163.html" style="text-decoration: none;"><span style="background-color: transparent; color: #0563c1; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">http://life1nvest.blogspot.my/2016/11/jhm-20163.html</span></a></div>
<span style="color: black; font-family: "calibri"; font-size: 14.6667px; vertical-align: baseline; white-space: pre-wrap;"><b style="font-weight: normal;"><br /></b></span>
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<span style="background-color: transparent; color: black; font-family: 'Microsoft YaHei'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">今天在Bursa公布最新消息,JHM已获得航空认证,以扩大航空业。为了方便读者,提供The edge 连接,方便阅读。</span></div>
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<a href="http://www.theedgemarkets.com/my/article/jhm-certified-assemble-microelectronics-aerospace-industry?type=Corporate" style="text-decoration: none;"><span style="background-color: transparent; color: #0563c1; font-family: 'Microsoft YaHei'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">http://www.theedgemarkets.com/my/article/jhm-certified-assemble-microelectronics-aerospace-industry?type=Corporate</span></a></div>
<span style="color: black; font-family: "calibri"; font-size: 14.6667px; vertical-align: baseline; white-space: pre-wrap;"><b style="font-weight: normal;"><br /></b></span>
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<span style="background-color: transparent; color: black; font-family: 'Microsoft YaHei'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">之前笔者提及如果公司取得该认证,可让公司能够竞得长达30年的合约,未来预期汽车与航空灯具业务的营业额贡献,将在3年内达到50:50比例。公司也提及2017年将拨出10 Million 资本开销提升7间工厂的精密飞机部件位于Sungai Petani。同时公司也预计航空灯具业务将在2017年下半年会做出贡献。如果取得AS9100认证,相信将可以提升公司的知名度。</span></div>
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<span style="background-color: transparent; color: black; font-family: 'Microsoft YaHei'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;">另外,这个月将公布第四季度</span></div>
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<span style="background-color: transparent; color: black; font-family: Calibri; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">之前笔者也提及第四季有Revenue RM45,000,000的话,预计forward EPS 仍保持在3.68到4.58之间,全年EPS将是14.18到15.08,PE仍保持15,股价将去到RM2.12到RM2.26之间</span><span style="background-color: transparent; color: black; font-family: 'Microsoft YaHei'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">。</span></div>
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Simple Investinghttp://www.blogger.com/profile/07534303062433189556noreply@blogger.com1tag:blogger.com,1999:blog-5636583082398679377.post-71202461888866435872017-02-14T04:48:00.002-08:002017-02-14T04:48:50.774-08:00冷眼分享集-心动不如行动Mon, 18 Jun 2007<br />
“知之非艰,行之维艰”,这是股票投资者最大的困扰。<br />
大部份的股票投资者,都了解投机难以赚钱,要赚钱,惟有投资,而且是长期投资。<br />
但是,在投机气氛的笼罩下,很少有人能摆脱周围投机浪潮的影响,身不由己的被卷入了投机的旋涡中,最后弄得焦头烂额。<br />
他们不是不知道投机的坏处,可是心里想投资,但做的是另一套--投机。<br />
我在“30 年股票投资心得”一书中,以及在专栏中,重复的阐述这个道理,看的人是动心了,但是只是五分钟热度,过后又故态复萌,照投机不误,能够身体力行,坚拒投机诱惑的,少之又少。让投资者少走冤枉路正如本栏栏目“分享集”所示,我写“30 年股票投资心得”,最大的目的,就是要跟股友分享我30 多年来的股票投资心得,希望投资者在投资路上,少走一些冤枉路,免付高昂的学费,当然,另一个目的,是藉以总结我30 多年来的投资经验。至于版税,属于次要。<br />
马来西亚的读书风气不盛,是众所周知的,我的出版商朋友告诉我,本地出版的华文书,售价在二、三十令吉之间的,能销1、2 千本已算不错了。<br />
我这本“30 年股票投资心得”,以78 令吉的售价,能卖出7 千本,是我始料所不及的。<br />
由此可见,有心学习投资正道的股友,还是不少的,但有多少人读后将我书中的方法,付诸于行动,我没有把握。<br />
我这样怀疑是有理由的,犹记在80 年左右,我曾在全马各地举行股票研讨会,不自量力,想<br />
教育投资者,改变他们的投机恶习。<br />
我花3 个小时,讲解正确的投资理念,但我发现,花钱来听讲的,对我讲的内容,多数不感兴趣,他们花钱花时间来参加,主要的目的,是要来找“贴士”,他们都要求我给他们几只即买即起的股票,以捞回票价。更可笑的是,有一些人驾车百里,到会场后对我说“我没时间听讲,请给我几只可买的股票就行了”。<br />
把书中道理付诸行动我告诉他们几只我认为值得投资的股票,他们听后就马上离开,根本不要留下来听讲,这种事发生了很多次。所以,当我的好朋友黄森同博士鼓励我出书,而且自告奋勇,自讨荷包替我出版时,我对此书的销路并没有抱太大的期望。<br />
然而我错了,此书一推入市场,即受到热捧,连续11 个星期列入“亚洲周刊”的大马华文书<br />
畅销榜,使我受宠若惊。<br />
今天收到黄博士的字条,证实7 千本售罄,他已指示印刷厂赶印另1 千本,下周推入市场。<br />
对于购买拙作的股友,我一方面衷心感谢你们的捧场,另一方面,我恳切希望你们认真的读这本书,更重要的是把书中的道理,付诸于行动,这样,你们才能得益。<br />
有人读了这本书,认为平平无奇,他们没说错,因为投资的道理,都不需要标新立异,重要的是能为投资者带来成绩,我书中所说的方法,都是成功投资家采用过的。我没有新的发现,也根本没有这样的本领。伟大的投资家早已为我们指出投资的正道,我们只要相信他们沿着这条路走下去,就一定有收获,我循正道走了30 年,证明此路可通。<br />
脚踏实地投资必有丰收在投机气氛浓得化不开的当前牛市中,投机者春风得意,靠边站的投资者是寂寞的,若定力不够,迟早会加入投机的行列,乖离了正道,误入歧途,身陷险境而不知。<br />
心动不如行动,你们既然有意加入投资的阵营,光靠心动无用,必须继之以行动。<br />
要下决心与投机绝缘,沿正道而行,勤做功课,根据基本面,脚踏实地投资,必有丰收。Simple Investinghttp://www.blogger.com/profile/07534303062433189556noreply@blogger.com0tag:blogger.com,1999:blog-5636583082398679377.post-81120316490122438572017-02-09T19:05:00.001-08:002017-02-09T22:06:58.696-08:00COMFORT手套股浴火重生? BY 周伯通<div class="separator" style="clear: both; text-align: center;">
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COMFORT 是笔者周伯通在今年1月23日所发现的,如下图:</div>
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<u><u><b><br />手套行业在马来西亚的特殊地位</b></u></u></div>
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產業國際地位馬國目前為全球第七大橡膠消費國,居中國大陸、美國、日本、印度、泰國及巴西之後。馬國出口高品質、具競爭力之橡膠與橡膠製品至全球市場。目前馬國為全球最大橡膠與丁腈(nitrile)手套、導管及避孕套供應商。2014年馬國橡膠手套全球市場占有率達63.92%,盼每年可維持13%成長率,以期至2020年將其市占率提高至65%。<br />
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<b><u>COMFORT(前身IRCB)</u></b></div>
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MR CHEANG PHOY KEN关键人物在2013年开始累计股权高达25%,掌握主控权后便一手重新整顿这家企业。</div>
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<span style="background-color: white; color: #1d2129; font-family: "helvetica neue" , "helvetica" , "arial" , sans-serif; font-size: 14px;">COMFORT以前曾經是一家PN17公司在2015年7月正式脱离PN17,張培根(Cheang phoy ken)在2013年收购大批股权成为单一最大股东,他是1996-2007年SEAL POLYMER IND的大股东暨董事经理之后在2007年被SUPERMX收购并私有化的SEAL POLYMER IND.此外,已经除牌的LEONG HUP执行董事拿督刘应源及兒子们收购大批股权,也成为大股东之一.</span><br /><iframe allowfullscreen="" class="YOUTUBE-iframe-video" data-thumbnail-src="https://i.ytimg.com/vi/12jDazl4Apw/0.jpg" frameborder="0" height="266" src="https://www.youtube.com/embed/12jDazl4Apw?feature=player_embedded" width="320"></iframe><br />
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<span style="background-color: white; color: #1d2129; font-family: "helvetica neue" , "helvetica" , "arial" , sans-serif; font-size: 14px;">在新管理层带領下,改变策略专注于特别用途的专业手套,例如供检测用途的手套,以減少丁睛手套削价战带来的影响.新管理层在短短2年,从以前年年亏損及累累债务的公司,目前已转亏为盈及变成净现金的爆发成长型公司,这不得不佩服新管理层,尤其是董事经理張培根!</span><span style="background-color: white; font-family: "roboto" , "arial" , sans-serif; font-size: 20px;"><u><b><br /><br />手套厂货仓遭火魔造访 厂家蒙受惨重损失!</b></u></span><span style="background-color: white; color: #1d2129; font-family: "helvetica neue" , "helvetica" , "arial" , sans-serif; font-size: 14px;"><br /></span><iframe allowfullscreen="" class="YOUTUBE-iframe-video" data-thumbnail-src="https://i.ytimg.com/vi/x66DbGd8zVA/0.jpg" frameborder="0" height="266" src="https://www.youtube.com/embed/x66DbGd8zVA?feature=player_embedded" width="320"></iframe><br />
<a class="section-name" href="https://www.blogger.com/null" style="background: rgb(202, 0, 1); box-sizing: border-box; color: white; font-family: STHeiti, Arial, "Helvetica Neue", Helvetica, sans-serif; font-size: 14px; font-weight: bold; line-height: inherit; margin-right: 5px; padding: 5px 5px 5px 8px;"> </a><span style="background-color: white; color: #666666; font-family: "stheiti" , "arial" , "helvetica neue" , "helvetica" , sans-serif; font-size: 14px;"> 2016年03月04日</span><br />
<img alt="No automatic alt text available." src="https://scontent.fkul2-1.fna.fbcdn.net/v/t1.0-9/16649348_10210304401499635_4950263323979398847_n.jpg?oh=3ebf3c1159ace635f0dfae7e9fc3263b&oe=5909357B" /><br />
<span style="background-color: white; color: #1d2129; font-family: "helvetica neue" , "helvetica" , "arial" , sans-serif; font-size: 14px;"><br /><b><u>COMFORT走势图</u></b></span><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjip9W5-Sveq4O26GWZ8vDxsRfIRN8pKLEEfZoF-5kZeBRGh23tdnu5WHDeHQVSy8zHosYtycdOd409OmS7k3O0Lx0LzpnKMPmSmBCj1T2qBOWS8XnrkGT9Yxc60E4Jk5juOBySol25Sfs/s1600/3.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em; text-align: center;"><img border="0" height="318" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjip9W5-Sveq4O26GWZ8vDxsRfIRN8pKLEEfZoF-5kZeBRGh23tdnu5WHDeHQVSy8zHosYtycdOd409OmS7k3O0Lx0LzpnKMPmSmBCj1T2qBOWS8XnrkGT9Yxc60E4Jk5juOBySol25Sfs/s640/3.png" width="640" /></a><br />
<img alt="No automatic alt text available." height="408" src="https://scontent.fkul2-1.fna.fbcdn.net/v/t1.0-9/16602927_10210304458541061_1120290959953186386_n.jpg?oh=4bfdc6a4ac84d8ce59a985bf5df3d21d&oe=593F8AB8" width="640" /><span style="background-color: white; color: #1d2129; font-family: "helvetica neue" , "helvetica" , "arial" , sans-serif; font-size: 14px;"><br /></span><span style="background-color: white; color: #1d2129; font-family: "helvetica neue" , "helvetica" , "arial" , sans-serif; font-size: 14px;">原本comfort在2015年已经突破RM0.85以上的水平,但是在2016年3月遇上新厂房火灾造成2016Q1一次性的大笔亏损但不影响生产线以及在2016Q2获得保险赔偿了,这场火灾给与市场投资者有第二次用底价买入的机会。</span><span style="background-color: white; color: #1d2129; font-family: "helvetica neue" , "helvetica" , "arial" , sans-serif; font-size: 14px;"><br /></span><br />
<b><u><br /><br />同行对比-财务比率<br /></u></b><br />
<div class="separator" style="clear: both; text-align: left;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh1q4FM82VjkTG1YQ3qa9tbHD0IXKXwu6GgKYmZn4RQJgK0blodrVOlX02EZrXJj4YDgwjw0Xaj6qOcM4Pr-ztOrET3GOD8-DoV4opDH9k9MLi2JK9GCGdgzvH_KaycCE71UQQMb4Yk0l4/s1600/6.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh1q4FM82VjkTG1YQ3qa9tbHD0IXKXwu6GgKYmZn4RQJgK0blodrVOlX02EZrXJj4YDgwjw0Xaj6qOcM4Pr-ztOrET3GOD8-DoV4opDH9k9MLi2JK9GCGdgzvH_KaycCE71UQQMb4Yk0l4/s1600/6.png" /></a></div>
<span style="background-color: white; color: #1d2129; font-family: "helvetica neue" , "helvetica" , "arial" , sans-serif; font-size: 14px;">如果去除2016年火灾所造成的一次性影响,正常化的业绩理应一直创新高保持成长趋势,那么COMFORT的PE理应只是10而已(based on latest EPS 1.8*4=7.2),在手套同行最低,但是它的ROE和profit margin 却媲美手套界的三大天王:KOSSAN,HARTA,TOPGLOV。这三大天王的PE高达20以上。另外COMFORT在盈余保留是业界里面最高,retain earnings是share capital的2.54倍,绝对有派发红股/股息能力。</span><br />
<span style="color: black; font-family: "arial"; font-size: large; vertical-align: baseline; white-space: pre-wrap;">笔者</span><span style="color: black; font-family: "arial"; font-size: large; vertical-align: baseline; white-space: pre-wrap;"><br class="kix-line-break" /></span><span style="color: black; font-family: "arial"; font-size: large; vertical-align: baseline; white-space: pre-wrap;"><img height="87" src="https://lh3.googleusercontent.com/stwZoK8T0Sr6kNFdAbilvcUsJA7s7hoTzkK0FYWk5iispiN_aT09MYmWX3t2oA6yo2vjxGQ8_awE9mawZ1o0faaL9Mtg45AH4438UGgMP028kGmHWOgCfMGHEMEEr2QuhhGXhzIE" style="border: none; transform: rotate(0rad);" width="188" /></span><br />
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【投资正道,与你有约】<br />
各位读者好,我们将再次在吉隆坡和柔佛举办股票分享会,请大家把握机会,主要以华语分享。截至2017年1月24日本专页所推荐的股票都取得非常好的表现如图里的虚拟组合,所以决定与各位读者们一起分享投资正道的心得,相信出席者们能够收获满满。<br />
<span id="docs-internal-guid-a152aaaa-1901-6e62-adde-cd9d20a6278b"><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; vertical-align: baseline; white-space: pre-wrap;"><img height="960" src="https://lh3.googleusercontent.com/Oxv4p0lYi5i89HzHqcE-xgNorWh3Bd5eeb0HQsnIHchOJS07dSpfP0sqfRPnfc5Jd-ggEGVXdTrAWjG_f_xL-VhU2k8hoc4lhcSvIzUpd1_Ponb3zQYTpRu9a0onjLaggKma-YPZ" style="border: none; transform: rotate(0rad);" width="540" /></span></span></div>
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吉隆坡场<br />
费用:RM 10<span class="text_exposed_show" style="display: inline; font-family: inherit;"><br />日期:19-2-2017(星期日)<br />时间: 下午3-5.30 PM<br />地点:KOTA DAMANSARA-SUNWAY GIZA附近, 到时将会透过大家的联络方式来更新。</span></div>
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吉隆坡场-可以透过以下Google链接报名谢谢 - <a data-lynx-uri="https://l.facebook.com/l.php?u=https%3A%2F%2Fgoo.gl%2Fforms%2FQO0GUlDVYlgsaP6w2&h=ATM1u2fXEV4PAQNBM7uDSPiUT8ot113SKU42-vkTNqgaxAYMBZB_wPVWRM_pia0oLT0vwNbvVHL7J3dRagSyCg1glBkl0dkPNruM51TNcd3Vfpr9-5oxEXzBUg2__bGobIgBQkZul27euIVaejCGzAIqrPpmyoI0VrFO3vkJwpsTolng1hN1UmClhWqb2X1M2NXictkMMkQH-HJuTNzzph6zKdBxXos541UENMozkWAakKooan-iAWpCv4VcHaovwPEzEVdzT5j6K-0jymsBw3Z3b3QtnRxU" href="https://goo.gl/forms/QO0GUlDVYlgsaP6w2" original_target="https://goo.gl/forms/qo0guldvylgsap6w2" rel="noopener" saprocessedanchor="true" style="color: #365899; cursor: pointer; font-family: inherit; text-decoration: none;" target="_blank">https://goo.gl/forms/QO0GUlDVYlgsaP6w2</a></div>
<div mcafee_wa_ann="{"linkConfig":{"disableLink":false,"icon":"balloon_safe_annotation.png","highlightColor":"#CCFFCC","color":"green","iconWidth":16,"iconHeight":16},"hackerSafe":false,"cashback":false,"recommendation":20010,"categories":[178],"score":"OK","actualScore":"OK","colour":"green","dossierUrl":"https://www.mcafee.com/threat-intelligence/site/default.aspx?url=https%3A%2F%2Fgoo.gl%2Fforms%2Fqo0guldvylgsap6w2","domain_specifier":"","CCList":"{}","displayURL":"https://goo.gl/forms/qo0guldvylgsap6w2"}" style="cursor: auto; display: inline; float: none; font-family: inherit; height: 16px; margin-left: 2px; position: relative; width: 16px;">
<div class="mcafee_OK" style="background-image: url("data:image/png; display: inline-block; font-family: inherit; height: 16px; width: 16px;">
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<div style="font-family: inherit; margin-bottom: 6px; margin-top: 6px;">
柔佛场<br />
费用:RM 10<br />
日期:25-2-2017(星期六)<br />
时间: 下午7.30-10 PM<br />
地点:Sutera Mall附近, 到时将会透过大家的联络方式来更新。</div>
<div style="font-family: inherit; margin-bottom: 6px; margin-top: 6px;">
柔佛场-可以透过以下Google链接报名谢谢 - <a data-lynx-async-dest="https://goo.gl/forms/hMGhIwUL2V7tKtH53" href="https://l.facebook.com/l.php?u=https%3A%2F%2Fgoo.gl%2Fforms%2FhMGhIwUL2V7tKtH53&h=ATMVKMy8T6hqF1_dJMNLXQSSLj1KY2EM1Q5ZVomeJJEWp4yr--pcfXkdRwTTVlfy_rlAPUWU39vPrsPLhAbp0WRv6IUNIh3761XV4qPFHJ1QxOmRScXS_Wlb3RF92f_GYWEeXefpLjPvB3mTO1qjontje3zckJR0OaFSqCbKNcFRwwOqv8aPFogmV3CpZTLvPxu5fX5hLZ7RrclLUewHCFjreUNuJ610XHwyC-5nbR1SmZ4pd7KWW6d-oXlqNu3J0R5rByNARQ7kFoxcFYQPh6CXFWlvoaHp" original_target="https://goo.gl/forms/hmghiwul2v7tkth53" rel="noopener" saprocessedanchor="true" style="color: #365899; cursor: pointer; font-family: inherit; text-decoration: none;" target="_blank">https://goo.gl/forms/hMGhIwUL2V7tKtH53</a></div>
<div mcafee_wa_ann="{"linkConfig":{"disableLink":false,"icon":"balloon_safe_annotation.png","highlightColor":"#CCFFCC","color":"green","iconWidth":16,"iconHeight":16},"hackerSafe":false,"cashback":false,"recommendation":20010,"categories":[178],"score":"OK","actualScore":"OK","colour":"green","dossierUrl":"https://www.mcafee.com/threat-intelligence/site/default.aspx?url=https%3A%2F%2Fgoo.gl%2Fforms%2Fhmghiwul2v7tkth53","domain_specifier":"","CCList":"{}","displayURL":"https://goo.gl/forms/hmghiwul2v7tkth53"}" style="cursor: auto; display: inline; float: none; font-family: inherit; height: 16px; margin-left: 2px; position: relative; width: 16px;">
<div class="mcafee_OK" style="background-image: url("data:image/png; display: inline-block; font-family: inherit; height: 16px; width: 16px;">
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<div style="font-family: inherit; margin-bottom: 6px; margin-top: 6px;">
当天周伯通分享内容如下:<br />
1.LIFEVEST 理念与宗旨<br />
2.我们的内心是如何分析股票?<br />
3.回顾周伯通如何在2016下半年大马经济低迷中打败大盘表现?</div>
<div style="font-family: inherit; margin-bottom: 6px; margin-top: 6px;">
欧阳锋-分享内容如下:<br />
1.Call和Put warrant陷阱,<br />
2.Margin account的运用和陷阱(T3,T7,T10),<br />
3.怎么运用好业绩增加自己的胜算<br />
以上内容会拿个股案列分享。</div>
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以下是本专页过往发布的股票分析<br />
ELSOFT<br />
<a data-lynx-async-dest="http://life1nvest.blogspot.my/search/label/ELSOFT" href="https://l.facebook.com/l.php?u=http%3A%2F%2Flife1nvest.blogspot.my%2Fsearch%2Flabel%2FELSOFT&h=ATMBkJBTASU5CI-YdwZtz2BD602JedYr0eaK64a87_tdXWy-wMDis3oFfnmRLQf0OnoXQdc1wXqSBR5EHAr-Ag_eBLO6ipr2mb2muomQM-5R5uXJ7nxROmD-qX5NTGBeg5dwJv69y0gmLFdN5REvFfpiGwlvvw1Hxg5Wb3P5bGXtH8IIxy_l4zcEQ-zzoVWAmluWaXdUiXRjp-TnJy5-_o8x_LV0XL6x6ODcTSWBYH1w6SzLRIdhAkCCAvW4by0-PMZ4dH8xwFZ4ulQqaLwYa3MyI1JP40Dbr7Ay2uA" original_target="http://life1nvest.blogspot.my/search/label/elsoft" rel="noopener" saprocessedanchor="true" style="color: #365899; cursor: pointer; font-family: inherit; text-decoration: none;" target="_blank">http://life1nvest.blogspot.my/search/label/ELSOFT</a></div>
<div mcafee_wa_ann="{"linkConfig":{"disableLink":false,"icon":"untested.gif","highlightColor":"#FFFFFF","color":"white","iconWidth":18,"iconHeight":18},"hackerSafe":false,"cashback":false,"recommendation":20008,"categories":[188],"score":"UNKNOWN","actualScore":"UNKNOWN","colour":"white","dossierUrl":"https://www.mcafee.com/threat-intelligence/site/default.aspx?url=http%3A%2F%2Flife1nvest.blogspot.my%2Fsearch%2Flabel%2Felsoft","domain_specifier":"","CCList":"{}","displayURL":"http://life1nvest.blogspot.my/search/label/elsoft"}" style="cursor: auto; display: inline; float: none; font-family: inherit; height: 16px; margin-left: 2px; position: relative; width: 16px;">
<div class="mcafee_UNKNOWN" style="background-image: url("data:image/gif; display: inline-block; font-family: inherit; height: 18px; width: 18px;">
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IQGROUP<br />
<a data-lynx-uri="https://l.facebook.com/l.php?u=http%3A%2F%2Flife1nvest.blogspot.my%2Fsearch%2Flabel%2FIQGROUP&h=ATPmf9NCGJhdd4MNLgWteMycAPVKVY7xqVI9vnCVSevhKx-STgTgqUsLVXYZsAgFpODEpdnDDHionEEmnsUf0samT32D0HqVEPCtwNB85MALy60fQAn9CB2K0n7JuxTHqcfFC__J_FY9O7qarmQWpbUA1tgnpnRSgADjzPdIYL5JBhvlZGG62J6gpogKNhYDRBwhCrcivfobXlYfhMywHyEIc6nNCWcJ5fZAZYnBNOPXbgRhu43sjV3x63_4WzaEuPbiNeHmhiutnu2YriN0HBj-cKyxviy7" href="http://life1nvest.blogspot.my/search/label/IQGROUP" original_target="http://life1nvest.blogspot.my/search/label/iqgroup" rel="noopener" saprocessedanchor="true" style="color: #365899; cursor: pointer; font-family: inherit; text-decoration: none;" target="_blank">http://life1nvest.blogspot.my/search/label/IQGROUP</a></div>
<div mcafee_wa_ann="{"linkConfig":{"disableLink":false,"icon":"untested.gif","highlightColor":"#FFFFFF","color":"white","iconWidth":18,"iconHeight":18},"hackerSafe":false,"cashback":false,"recommendation":20008,"categories":[188],"score":"UNKNOWN","actualScore":"UNKNOWN","colour":"white","dossierUrl":"https://www.mcafee.com/threat-intelligence/site/default.aspx?url=http%3A%2F%2Flife1nvest.blogspot.my%2Fsearch%2Flabel%2Fiqgroup","domain_specifier":"","CCList":"{}","displayURL":"http://life1nvest.blogspot.my/search/label/iqgroup"}" style="cursor: auto; display: inline; float: none; font-family: inherit; height: 16px; margin-left: 2px; position: relative; width: 16px;">
<div class="mcafee_UNKNOWN" style="background-image: url("data:image/gif; display: inline-block; font-family: inherit; height: 18px; width: 18px;">
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<div style="font-family: inherit; margin-bottom: 6px; margin-top: 6px;">
KESM<br />
<a data-lynx-async-dest="http://life1nvest.blogspot.my/search/label/KESM" href="https://l.facebook.com/l.php?u=http%3A%2F%2Flife1nvest.blogspot.my%2Fsearch%2Flabel%2FKESM&h=ATNkHNyk07GPQYAO1uKj51arRZRqjtll1Kqa9XsVNx5YmtkhufjfGOUCOqlTg8VWrOxzbXt6JyQDpoqg6BF5fuXSMpioy0r3CDhWWgv5s9gVBDNPTrDKRCXWsjpXI7bPr9ACzMciLFxANajUw9eHsm4ahD8AY-BHR5P3Up8FiBzi86hxaiLVN-dj6PyPcB0nTOxiznyXOUXB9GSdqwlUIc91hrlf8xHS_RYGOf6XLa3e0emmnIVbpC8ql3DpDxqFMT7vnDF8INp7lSsR1wSxFhLc2hudFFwJ" original_target="http://life1nvest.blogspot.my/search/label/kesm" rel="noopener" saprocessedanchor="true" style="color: #365899; cursor: pointer; font-family: inherit; text-decoration: none;" target="_blank">http://life1nvest.blogspot.my/search/label/KESM</a></div>
<div mcafee_wa_ann="{"linkConfig":{"disableLink":false,"icon":"untested.gif","highlightColor":"#FFFFFF","color":"white","iconWidth":18,"iconHeight":18},"hackerSafe":false,"cashback":false,"recommendation":20008,"categories":[188],"score":"UNKNOWN","actualScore":"UNKNOWN","colour":"white","dossierUrl":"https://www.mcafee.com/threat-intelligence/site/default.aspx?url=http%3A%2F%2Flife1nvest.blogspot.my%2Fsearch%2Flabel%2Fkesm","domain_specifier":"","CCList":"{}","displayURL":"http://life1nvest.blogspot.my/search/label/kesm"}" style="cursor: auto; display: inline; float: none; font-family: inherit; height: 16px; margin-left: 2px; position: relative; width: 16px;">
<div class="mcafee_UNKNOWN" style="background-image: url("data:image/gif; display: inline-block; font-family: inherit; height: 18px; width: 18px;">
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<div style="font-family: inherit; margin-bottom: 6px; margin-top: 6px;">
KRONO<br />
<a data-lynx-async-dest="http://life1nvest.blogspot.my/search/label/KRONO" href="https://l.facebook.com/l.php?u=http%3A%2F%2Flife1nvest.blogspot.my%2Fsearch%2Flabel%2FKRONO&h=ATOrsfnX3y08Me7dDi0PALDbysSfai_UWW1u2o5QEDlxewYZHLX1FQkf2kXL-hSObplFyfcPknH2uaIHsP_Yf4rsNcMiArSSNkKy6hJug5bsxYAndfPC9PYoAuERfoMBsemrhz7nQMAf6kc9vf2B5Knq6NX1ZKoKrRgPItfj30pr1lM1KEtCr3sFVHv2v8jsCLLOfU6MEd_yOEVcYhiuAYQ5F1oz-EWv2IWIg3LzK5-PtDVfCXqYi0KwD6u6ED-gVGRdjT22yTjI1CAsQ9ESd71wi-JOULyZer9JBys" original_target="http://life1nvest.blogspot.my/search/label/krono" rel="noopener" saprocessedanchor="true" style="color: #365899; cursor: pointer; font-family: inherit; text-decoration: none;" target="_blank">http://life1nvest.blogspot.my/search/label/KRONO</a></div>
<div mcafee_wa_ann="{"linkConfig":{"disableLink":false,"icon":"untested.gif","highlightColor":"#FFFFFF","color":"white","iconWidth":18,"iconHeight":18},"hackerSafe":false,"cashback":false,"recommendation":20008,"categories":[188],"score":"UNKNOWN","actualScore":"UNKNOWN","colour":"white","dossierUrl":"https://www.mcafee.com/threat-intelligence/site/default.aspx?url=http%3A%2F%2Flife1nvest.blogspot.my%2Fsearch%2Flabel%2Fkrono","domain_specifier":"","CCList":"{}","displayURL":"http://life1nvest.blogspot.my/search/label/krono"}" style="cursor: auto; display: inline; float: none; font-family: inherit; height: 16px; margin-left: 2px; position: relative; width: 16px;">
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PENTA<br />
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SEDANIA<br />
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JAKS<br />
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JHM<br />
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