Highlights
KLSE : MASTEEL       MALAYSIA STEEL WORKS (KL)BHD Main : Industrial Products
Last Price Today's Change   Day's Range   Trading Volume
0.77   0.00 (0.00%)  0.76 - 0.775  209,600
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Overview

Market Cap: 188 Million
NOSH: 244 Million
P/E | EY: 8.95  |  11.17%
DY | Payout %: 0.00%  |  - %
NAPS | P/NAPS: 2.2337  |  0.34
Avg Volume (4 weeks):955,705
4 Weeks Range:0.76 - 0.83
52 Weeks Range:0.495 - 1.06
Average Price Target: 0.40
Price Target Upside/Downside: -0.37

Headlines

Latest Headlines
16/03/2017  Buying back Masteel on Weakness as Results are actually in excellent order, By Calvin Tan Research
22/02/2017  M+ Online Technical Focus - 22 Feb 2017
21/02/2017  Trading idea: Playing catch-up with its peers in anticipation of better 4Q16 results
14/02/2017  长钢四侠 之 长钢三叠浪 【ANNJOO SSTEEL MASTEEL LIONIND】
15/12/2016  PublicInvest Research Headlines - 15 Dec 2016
09/12/2016  Mplus Market Pulse - 9 Dec 2016
01/12/2016  Mplus Market Pulse - 1 Dec 2016
18/10/2016  Daily Technical Highlights – CSCSTEL | MASTEEL
12/10/2016  大马钢厂(5098),钢铁股主题才开始?还是结束了?
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  7 people like this.
 
soojinhou I think it's appropriate, the material cost should already include the cost in usd. Therefore, I deem the forex losses as non recurring
22/02/2017 15:41
probability thanks soojinhou :)
22/02/2017 15:44
soojinhou I'm taking a closer look at Masteel's report. The unrealized forex loss of 4,622 is most likely the same item as other expenses 4,622. Since it is not part of revenue and cost of sales, it is definitely non-recurring⁠⁠⁠⁠.
22/02/2017 16:30
Yipman It's still earning but seller panic selling. just like last quarter. it will rebound soon.
22/02/2017 16:33
probability market too high expectation..knee-jerk effect...should not take more than a week for the true effects of the results to surface.

My only concerns is the raw material cost they had used in relative to their product selling price..are they reflective of the future (or just old cheap stocks)..

If they can maintain half of the core operating margin it will be superb already.
22/02/2017 16:44
moneySIFU All I can say is the timing of releasing QR by Masteel is terrible.... Lunch time... no time to think & digest.... market reacted......
22/02/2017 17:10
OOMMGG Exclude forex loss, the result is the best Q in a year.
22/02/2017 18:13
owning Agree with moneysifu, timing of releasing QR is really terrible! From the earning , although the profit not up to expectation, but dont think the market price suppose to drop that much. Afterall, it still come out with better QoQ and YoY.
Price will rebound soon...market reacted due to panic selling @@
22/02/2017 18:34
comebackisreal Cheap. All in
22/02/2017 18:34
agcnazriadam Time to buy
22/02/2017 18:42
leoting http://leoting81.blogspot.my/2017/02/5098-masteel.html
22/02/2017 20:59
ng1943 same game over over agaiin result out press down collect then push up
22/02/2017 21:50
probability http://www.masteel.com.my/about-2/brief-history-milestone/

Billet production capacity: 700,000MT/annum
Rolling mill, ~ : 550,000 MT/annum.

Total throughput: 1,250,000MT/annum

If we assume RM150 per ton of steel processed as an average "value addition' per ton of througput of both (this at 5% gross margin on steel price),
The Gross profit is = 46 Million per qtr

Since they are taking right from the basic raw material of Scrap - the Safeguard Duty of 13.5% should be theoretically the rock bottom gross margin.

The latest qtr results seem to indicate that they are running at a approximately 40% of max throughput with a gross margin of 10.5%.


"So the current gross profit margin or at the least the absolute gross profit should be sustainable with a better throughput"



They produce the Billets via EAF method which mainly uses Scrap Steel (90%). As mentioned in SS forum earlier, the EAF users will have advantage compared to BOF users who are dependent on Iron Ore and Coking Coal. This will be the competitive advantage factor.


Some reference below ( to prove my message on Scrap Steel users advantage):

http://content.investor.net.my/the-edge-daily-masteel-stays-profitable-in-tough-conditions.html

Masteel’s improved earnings in 3QFY13 was in stark contrast to the other local steelmakers, all of which reported losses for the period.

We attribute this, in part, to the company’s relatively smaller size and agility in managing its production and stock levels. Its electric arc furnace uses scrap steel as raw material. Scrap steel prices are generally less volatile compared with that of iron ore and coking coal, the main raw materials for larger blast furnaces. Case in point, iron ore prices rose more than scrap steel prices in 3QFY13 due to increased demand from Chinese steelmakers.
23/02/2017 03:43
investoo Masteel poor performance for the quarter is due to forex loss of RM11 miilion, I expect next quarter EPS of at least 6 sen, PE 3.45 at current price.
23/02/2017 13:56
probability when new fantastic dishes are constantly being served on the table (till end of the month)...even oysters get abandoned.

many companies reporting fantastic results ma...surely many are eyeing quick short term gains.. they are more concern on latest EPS.

lets see when the waiters stop serving...
23/02/2017 14:10
probability anyone who wants to have a clear understanding on the basic fundamentals of steel processing, you only need to go through the 'single page' on the link below:


https://www.worldcoal.org/coal/uses-coal/how-steel-produced


its especially important and easier to understand by going through the process diagram shown in the middle of the page. It shows the basic two routes of processing BOF and EAF.
23/02/2017 14:27
Investopia Next quarter report timing will have some fantastic news ......
24/02/2017 23:14
comebackisreal No wonder heavy sell down for masteel. Even lionind eps also higher than masteel.
25/02/2017 04:35
Josephine Ong selling unwarranted...coming back strongly soon
27/02/2017 11:43
IamGoogle All steel companies bleeding like hell today
27/02/2017 16:17
Candl3 why huh? got what news?
27/02/2017 16:26
Investopia Be patient ya...... it maybe just normal adjustment after results announcement for some to take profit....
27/02/2017 22:46
Investopia Will be looking to buy after mid March after the US interest rates announcement & after looking at the reaction of our Super Duper Weak Ringgit...
27/02/2017 22:48
Khairil84 reversal
01/03/2017 16:53
noah i wonder why the management did not hedge their position to prevent huge forex losses??
since they already know they are importing stuff in USD
06/03/2017 11:47
posby lion sudah lari...bila masteel lari?
10/03/2017 11:08
culbertlim Better don't let your people come out and attack other's stock please got one people call CALVINTANENG better call him to shutup stfu and sto attacking GADANG while promoting his super MASTEEL in his blog thank you
13/03/2017 20:44
calvintaneng Posted by culbertlim > Mar 13, 2017 08:44 PM | Report Abuse

Better don't let your people come out and attack other's stock please got one people call CALVINTANENG better call him to shutup stfu and sto attacking GADANG while promoting his super MASTEEL in his blog thank you


Hahaha!

You are so cute
13/03/2017 20:47
calvintaneng Whoa!
Masteel still unmoved?

Time to buy back some cheap overlooked Masteel shares!

YAHOOO!!
14/03/2017 10:40
familybusiness start moving??
14/03/2017 13:27
calvintaneng Whoa very cheap! Just buy!!
15/03/2017 10:34
heaven123 KYY make million just two weeks.
16/03/2017 08:22
heaven123 Jaks
16/03/2017 08:23
heaven123 Calvin eagle shut up-
16/03/2017 08:24
TheContrarian Calvin, bought Masteel for the first time in my life today. You better be right!
16/03/2017 09:27
Josephine Ong crossing 0.80 today
16/03/2017 09:42
familybusiness Calvin, i'm bought it few days ago... so please be right...fly fly..
16/03/2017 17:23
familybusiness kyy donated 50M. Million is nothing to him.
16/03/2017 17:24
posby china today announce cut extra 50million tonnes on top of 60million promised.. monday is steel on spotlight
18/03/2017 19:43
probability can share the link posby?
18/03/2017 19:46
probability http://www.reuters.com/article/china-parliament-steel-coal-idUSL3N1GS0RF

http://www.economiccalendar.com/2017/03/13/chinese-steel-prices-resume-their-rally/
18/03/2017 19:58
probability http://www.sunsirs.com/uk/prodetail-927.html
18/03/2017 21:29
posby i read it @ investing.com apps
18/03/2017 22:34
Nigel Low Blackealge1989 created new ID just to informed us "Insider News"? How thoughtful isn't it....
27/03/2017 17:04
Unicorn If he really created IDs to cheat us, then he is definitely not an ordinary Joe loh..
27/03/2017 17:08
kevin008 hopefully the import duties will remain
election coming..sweet for steel co. rather than construction co. loh..since they dy gave so much big contract n project to construction co.
27/03/2017 17:13
leoting 钢铁第5报告之380天Update http://leoting81.blogspot.my/2017/03/5380update.html
27/03/2017 19:35
investoo Malay Contractor Association (PKMM) has written to MITI to protest the safeguard duty on steel bar, says the protection has pushed up the price of steel bar from RM1620 to RM2450. Let see how true is their claim.

According to PKMM, Malaysia Rebar Price increase from Sep 2016 of RM1620 to Mar 2017 of RM2450, an increase of RM830.

During the same period, Rebar Price at international market increase from US$300 (US$300@4.1355=RM1240) to US$460 (US$460@4.4255=RM2036), an increase of RM796.

From the above calculation, there is no basic to claim that the increase of rebar price in our market is due to the safeguard protection. It's due to price increase at international market and weakening of Ringgit.

Beside there are a lot of quality problem on rebar from China, how are we going to ensure there are no sub-standard rebar produce by the backyard mill from China coming into our market ? Just imagine the consequences if we are using these backyard mill's rebar to build our high rises and bridges..

Most countries have imposed heavy duty on cheap Chinese steel, MITI is doing too little and too late in protecting local steel industry. They should decide what is best for the country and not seccumb to pressure of interest groups.

THE EDGE as a business and investment weekly should do some investigative journalism in their reporting, in their article on steel safeguards, they have failed in the following:

1. To highlight the real reason for the price increase of steel bar on local market from RM1620 to RM2450

2. To provide a balance view on safeguards duty, they omitted view from opposing interest group

3. To report the world practices of safeguards and anti dumping duty on Chinese Steel.

The Edge article has triggered yesterday massive sell down of steel counters, I personally felt that they owe their subscribers and investors who sold out their shares during yesterday meltdown some explanation. In order to rectify their bias reporting, they should present a balance analysis on the havoc created by Chinese steel industry to the world steel market and actions taken by respective countries to protect their national interest in the next publication.


https://www.law360.com/articles/450002/itc-renews-steel-rebar-duties-for-5-more-years

http://trade.ec.europa.eu/doclib/press/index.cfm?id=1615

http://www.antidumpingpublishing.com/category/australia/

http://e.vnexpress.net/news/business/markets/vietnam-imposes-safeguard-tariffs-on-steel-imports-to-block-chinese-products-3438681.html
28/03/2017 12:58
OOMMGG Government know better what is the consequence of fully removing of safeguard import duty. If not maintain the current rate of safeguard import duty, some sort of protection must in place to protect local steel industry. This is government resonsibility to ensure survival of local steel industry to continue support local infrastructure building and development of property.
28/03/2017 13:51
kanter The damage being done! Is it a conflict of interest of lacking of professionalism ? You judge yourself.!
29/03/2017 14:20


 

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