理财专栏 | 水果团购

以前RM50足以买入一星期果腹的蔬菜水果，可惜在这万物涨价的高通膨时代，充其量只能买一半的分量。

家庭有了新成员后，我会更留意每日需摄取的蔬菜水果分量，尤其是每餐都尽量有不同款式的蔬菜水果。例如早餐优格乳配香蕉，午餐饭后木瓜，晚餐饭后苹果。

先说说水果团购的经验。有位教会姐妹在大型超级市场购买入口水果，价格不菲，而且打听之下发现不少人也在寻找有品质但价格稍微便宜的进口水果，后来她通过朋友介绍认识了卖家，只要能达到卖家最低买入的水果数量，就能以经销商价格买入高品质的入口水果。

她召集了一班有兴趣参与水果团购的朋友，每两星期发一次水果团购名单，由大家自由决定要购买大约RM50至RM60的特定水果(Fixed set) 或 任选水果(Optional) ，进口水果有苹果，橙子，梨，葡萄，各式莓类，甚至有季节性的桃子，柿子，牛油果等等。团购的好处不但能以买家的稍低价格买入市场上价格不菲的入口水果，还能在不同季节尝试不常看到的水果。

当然一开始我也兴致勃勃买了两个月，每月大约花了RM150左右购买水果，可是后来发现一些进口水果，如进口菲律宾香蕉，其味道不如本地香蕉来得自然香甜，而且其价格也比本地香蕉贵多几倍！

后来我也发现在夜市买入的进口水果虽然品质不如水果团购来得好，但价格还是便宜5-10%以上。加上本地水果也一样营养丰富，在强调健康的同时，是不是也可以审视一下生活消费能有改善的地方？

1kg RM4的本地香蕉和 RM5的进口香蕉；一粒RM4的本地非洲种类的牛油果和一粒RM6的澳洲牛油果；一盒同重量RM10的金马伦草莓和一盒RM15以上外国进口的草莓，质感口味一定有些许不同，所以妈妈们愿不愿意在价格上面妥协，其实也是经过一番挣扎的。

当然其他本地水果还包括了木瓜，火龙果，番石榴，桑莓等等。其营养价值不比入口水果低，加上在其盛产季节性时能以更便宜的价格吃得心满意足呢！

季报 | Wellcall (7231) Q4,2015 季报

Wellcall是我投资组合中第一支买入的股，持有差不多一年半。买入之时是它刚分红股之时的高价RM2+，还傻傻以为买到便宜货，结果调整后跌至RM1.5+。

那时做功课，公司对外发表的信心访问稿及新厂设立消息，加上每个季度的股息，都让我对它有安心感。在低谷时慢慢加码。

结果想当然尔，股价目前起至RM2.3+（小调整后），算是柳暗花明。

这个季度，Wellcall也交出不错的成绩，而年度成绩则是非常亮眼。公司产品需求增长，当然业绩好的一大功臣非美元走强莫属，出口占了91%，要留意日后马币强了是否会直接影响，但有新厂垫底，给它时间，我想公司还是会进一步往上爬的。

Market Capital (RM): 784.15m
EPS (cent): 12.44 *
P/E Ratio: 18.97
Par Value (RM): 0.200
Number of Share: 332.27m
NTA (RM): 0.293
Dividend (cent): 9.200
Dividend Yield (%): 3.90
Dividend Policy (%): 50 Details

至于有人说PE高。是的，在我买入时，它的PE是21-25。而今天它的P/E是18.97！怎么变低了呢？呵呵，EPS/业绩胜于一切。

而季度股息也从2sen提高至至2.3sen。2015财政年的总股息是9.2sen，比2014年的8.3sen提高了10.8%，而记录显示在股息提高至下，2015年的payout是74%，比起2014年的94% 少了，公司选择留下更多现金。


The Board of Directors has also declared a special interim single-tier dividend of 2.3 sen per share, which adds up to a total single-tier dividend of 9.2 sen per share or a dividend payout ratio of 74% for FY15, compared to total single-tier dividend of 8.3 sen per share and a payout ratio of 94% in FY14.

再来最大的定心丸，Wellcall是净现金RM18.9Million。

Wellcall’s operating cash flows remain strong, and its balance sheet healthy with a net cash position of RM18.9 million as at 30th September 2015.

业绩出前我有适量地减持，因为涨太快了@@ 如果股价继续跌，我不排除继续加码。 （模棱两可，哈哈）

公司还是一如往常，非常严肃地申述明年挑战依然严峻，但会尽本能地增加客户群，增加产品类型，提高产品的生产力以及其品质。

没有任何买卖建议。

In the fourth quarter under review, the Company achieved revenue of RM38.3 millioncompared to RM37.4 million in the previous corresponding quarter of FY14. Profit before tax rose 8.7% year-on-year (‘y-o-y’) to RM11.5 million in the period, whilst net profit jumped 65.9% y-o-y to RM12.9 million partly due to tax write-backs from capital allowances on its new plant as well as better than expected utilisation of production capacity.

For the full year of FY15, Wellcall reported record high revenue of RM158.1 million, delivering 8% y-o-y growth. Profit before tax in the twelve-month period surged 25.7% y-o-y to RM48.5 million, whilst net profit grew 40.5% y-o-y to RM41.3 million.Stronger FY15 performance was attributed to sustained demand growth for the Company’s industrial rubber hose, as well as favourable foreign exchange gain and lower overheads from greater economies of scale in production. Export markets accounted for 91% of group revenue for the full year FY15.


Demand for industrial rubber hoses will continue to see gradual recovery from both the emerging and developed economies. Moving forward, the Group will ensure it stays ahead of market trends, responding swiftly to changes through automation and research. In the near term, the Group expects the raw material prices to trend at current levels and US Dollar to remain strong. 

The easing of raw material prices has enabled a more favourable operating environment for sustainable growth in demand and earnings. During the financial year, the Group has undertaken various marketing initiatives to expand its customer base with the view to absorb the additional capacity that will come onstream from Factory 3, which has been completed and commissioned during the financial year.

The outlook of the global economy for 2016 remains challenging and uncertain. Nevertheless, the Group’s strategies are to focus on leveraging on its extensive customer network, improved productivity, quality services and product range to enhance its competitive edge. 

季报 | Mudajaya (5085) Q3,2015 季报

一图胜千言，这是万红中一点绿。

哇，突然发现我的中文还蛮不错的，哈哈哈哈

相比去年同季度狂升1235%，但2015年至9月为止，还是亏损12Mil.

The Group reported revenue of RM378.9 million and loss before tax (“LBT”) of RM12.0 million for the nine months period ended 30 September 2015, as compared to revenue of RM854.1 million and profit before tax (“PBT”) of RM46.6 million respectively for the previous year corresponding period, primarily due to weaker performance in its main construction business.

跌了那么久，也不巴望一个季度就扭转乾坤，Q3,2015算是新的开始，希望好消息能继续来。

可惜，在这个季报没有看到任何印度发电厂的消息。我想公司除非已经110%肯定印度发电厂运作了才发布吧，毕竟被‘骂’了那么久 =v=  

另外希望公司真的从这次跑道转换（从建筑/地产去电力）过程中吸取到教训，未来能更上一层楼。

未来展望公司对建筑方面表示乐观，而公司也会继续积极地拓展任何发电项目的可能性，建立更多资产以连续性的收入为主。

没有买卖建议。

Based on the recently announced Budget 2016, the outlook of the construction sector in Malaysia will remain positive in the coming years with an on-going stream of mega-infrastructure projects to be launched by the Government and the private sector including MRT Line 2 & LRT Line 3, new power plants,highways and infrastructure projects. The Group is confident and well-placed to benefit from some of these proposed projects.
In terms of overseas expansion, the Group continued to evaluate various opportunities in the Asean region particularly in the conventional and renewable energy power sectors. It is bidding for a number of power plant projects in the region which may provide opportunities for the Group to participate in the Equipment Procurement contracts for some of the projects.
The Group will also continue its strategy to build up its assets that generate recurring income, in addition to its core construction and property businesses. Moving forward, the Group also plans to expand on its precast concrete manufacturing businesses to capitalize on the increasing demand from various mega infrastruture projects.

股市 | KLCI指数上升 组合下跌？

这两天指数上升，大多数组合却下跌？

别以为我这里有答案，我也没头绪，反而是看到有人嚷嚷为何出口股跌得糊涂。

我想也是好事，这小调整也让大家知道，别以为马币跌出口股万无一失，一直追高，要知道大户也比你更知道这优势，随时套利走，来个小调整。小散户的风险因此非常大。

话说我组合也是红彤彤，可是看到指数青色，感觉很奇怪 @@ 

看来大环境也是上上下下，变幻莫测，只好努力啃公司季报加强信心，在适当调整中加码咯。

看看Reits, 一半Reits的股价还保持/上升，一半下跌。

幼儿绘本 | 社区关怀工作室 ~ 儿童文学与绘本书展

在面子书看到父母传这社区关怀工作室在11月18日至29日举办的儿童文学与绘本书展消息，就决定在上星期6和外子女儿风尘仆仆去到Seri Kembangan一探究竟。

毕竟很少在PJ Area看到有中文版绘本的图书馆/书局。从PJ下去也要30分钟哦。辛苦外子了，当司机也不容易啊。

终于来到Seri Kembangam商店Area的社区关怀工作室，英文名是Love community PUJ book store。

在窗外就看到了美美的绘本朝外展览。

右边满满的是儿童绘本，散装及套装。询问之下，较多是精装的，据说平装还没整理上桌。

左边的则是大人或父母阅读的育儿或教育书之类的，内容包括教导如何指引/陪伴小孩阅读绘本，如何照顾小孩情绪和饮食，育儿大全等等。

呵呵，你看到什么书了吗？

还有很多Eric的画呢 ～

那里的工作人员非常友善，本来想介绍一些感知类书籍给我的女儿，可是当听到我女儿在那儿一直童言童语说很多单词时，不敢相信我女儿才1岁半，还以为是两岁以上了呢。逐推荐一些故事性较强的绘本。还示范如何阅读绘本，非常生动！我学到了！ :D

书价钱若和网上团购相比是贵多了，可是在这里你可以亲自阅读给孩子，触摸书籍，再决定是否买下。加上如果完全没有想法要买入什么类型的绘本时，不妨可以和这里的工作人员谈谈，有收益哦～

季报 | Elsoft (0090) Q3,2015季报

Elsoft出季报咯～ 和上次Q2季报相比，相比去年同个季度盈利和税前盈利各自大升8%及65%.

主要原因是产品需求量增加以及公司在其他投资中获利，当然最瞩目是汇率兑换因素，美元强对Elsoft是优势。

公司对2015年的总成绩表示乐观，也选在这时候公布了‘特别’股息2sen，我说特别是因为前两年都是分别在4月及9月派息，今年则在3月，10月及12月派息。呵呵，希望能慢慢变成每个季度派息～～～幻想中 :D

而近几年来，公司成绩是往上爬的。

Review of performance
For the current quarter, the Group registered revenue and profit before tax ("PBT") of approximately RM17.258 million and RM12.406 million respectively. Compared to the preceding year corresponding quarter revenue and profit before tax of approximately RM16,009 million and RM7.506 million respectively, revenue has increased by approximately 8% and profit before tax has increased by approximately 65% respectively for the current quarter.

The higher revenue recorded was contributed by the increase in demand from automotive industry as compared to the preceding year corresponding quarter.

The higher PBT recorded was mainly contributed by the gain on fair value adjustment on other investment and unrealised gain on foreign exchange.

For the current quarter, the Group recorded higher revenue of approximately RM17.258 million as compared to RM5,432 million achieved in the previous quarter. PBT for the current quarter increased from approximately RM1,821 million in the previous quarter to RM12,406 million in the current quarter are mainly due to the higher revenue generated from automotive industry and the increase in other income.

QUARTERLY REPORT ON CONSOLIDATED RESULTS FOR THE THIRD QUARTER ENDED
30 SEPTEMBER 2015
Barring any unforeseen circumstances, the Board is optimistic on the Group’s prospects for the financial year ending 31 December 2015.