*先谢谢大家那么快帮忙突破200 赞👍 ❗️👏🏻👏🏻

如果平时你有追踪我们的话,你会发现我很少会谈一直亏损的公司 🤷🏻‍♂️ 那么今天为什么特别提到KNM 这家公司呢?

首先,KNM 从FY 2013 开始就不断亏损 💸 至FY 2018。但是管理层有在2018年的财报里面提到这年将会是公司重整业务的一年,而公司也确实在FY 2019 Q1 正式转亏为盈,是不是他们公司的春天 🌞 就要到了呢?

我大概看了一下FY 2019 Q1 他们的财务状况,虽然是赚钱了,但是operating cash flow 依然出现负现金流状态 🤔 而且手上的loan 也有RM 1.3 billion 左右(vs 现金RM 321 Million),接下来他们要怎么办呢?

在那之前,我们先看看公司的核心业务 – Construction & services。他们公司提供的服务包括:

📎 Project Management
📎 Engineering
📎 Manufacturing
📎 Commissioning
📎 Maintenance of process equipment
📎 One-stop process packages and integrated solutions

目前来说,建筑业占了公司92% 的业务(对O&G 的建筑)🤔 剩下的8% 是公司在泰国开始不久的bio-ethanol plant。

目前看起来管理层是很乐观啦,但是真的可以继续推动盈利吗?

我本身最简短的答案 – 很有可能 ❗️

至于原因,我也不跟你兜圈子了,有几个substantial shareholder(即股份5%以上)从四月开始买入公司的股票,大约是65 Million units 左右,加上今天ESOS 又有RM 1.1 Million(平均价RM 0.110),如果你说是为了Q1 第一次盈利他们先收货,那ok,fine。

但是过了那之后他们还是不断买入,现在我非常怀疑Q2,Q3 随着油价漂浮在USD 60~70 之间也间接拉高他们的赚幅,也转亏为盈了?🤷🏻‍♂️

总结来说,这家公司到八月(Q2 季报)为止可能有看头,但是长期来说,除非他们的renewable energy 能进入稳定阶段,不然的话单单以construction & services 来看的话,可能还有别的公司可以考虑。🤭

#KNMGROUP
#OILANDGAS
#BIOETHANOL
#12INVEST

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