Highlights
KLSE : MASTEEL       MALAYSIA STEEL WORKS (KL)BHD Main : Industrial Products
Last Price Today's Change   Day's Range   Trading Volume
0.80   -0.02 (2.44%)  0.785 - 0.82  2,230,600
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Overview

Market Cap: 195 Million
NOSH: 244 Million
P/E | EY: 9.30  |  10.75%
DY | Payout %: 0.00%  |  - %
NAPS | P/NAPS: 2.2337  |  0.36
Avg Volume (4 weeks):2,355,035
4 Weeks Range:0.785 - 0.925
52 Weeks Range:0.355 - 1.06
Average Price Target: 0.40
Price Target Upside/Downside: -0.40

Headlines

Latest Headlines
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?
27/09/2016  Stock With Momentum: Malaysia Steel Works (KL)
16/09/2016  MASTEEL - FACTORIES NEAR RM32 BILLION MRT PROJECT JUST LAUNCHED!! TOP PERFORMER EXPECTED!!!
14/09/2016  EW & FIBO on MYCRON, MASTEEL, CSCSTEEL, YKGI, EMETALL, MELEWAR, LSTEEL, CHOO BEE
07/09/2016  MASTEEL - ITS SALIENT FACTORS (Calvin Tan)
06/09/2016  Daily Technical Highlights – MASTEEL | HARTA
04/09/2016  钢价趋强.业绩有看头.马钢厂后市看起
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  7 people like this.
 
myongcc5 CRC player cud not hedge their selling price b'cos tied up wth their customers like car n fridge manufacturer!
22/02/2017 12:19
myongcc5 Tis round wth robust construction sector, especially gov infra job worth some 10 bil, the 100% long steel bar maker Masteel among Annjoo, Ssteel n lliondind, shall benefit the most fm the price hike!
22/02/2017 12:23
myongcc5 If coming q result less than 5sen, let's dump it! All pointer to positive
22/02/2017 12:25
myongcc5 No reason can't make it! No excuse! Last q was before massive price increased! At 1800. Now n 3mths ago rose up to av 2450! A > 20% up!
22/02/2017 12:28
myongcc5 Revenue shud increase to >300 mil.
22/02/2017 12:29
myongcc5 I believe KYy had alredy accumulating despite Call not to buy least q
22/02/2017 12:31
myongcc5 Lol
22/02/2017 12:31
myongcc5 My cooking hr come! I hv to leave for afternoon lunch, buy
22/02/2017 12:33
Nigel Low http://www.bursamalaysia.com/market/listed-companies/company-announcements/5343037
22/02/2017 12:52
msgpic2003 buy call signal?
22/02/2017 13:44
1009 Mid term also Good?

《Prospects》
With the recovery of steel bar prices from an average of RM1,443 per MT in January 2016 to RM2,192 per MT in January 2017 which amounts to a price surge of 50%, this has enabled the Company to operate profitably and with more installed rebar rolling capacities becoming available this year, the revenue of the Company is expected to be improved upon in the coming quarters .

The persistently higher prices of raw materials for steelmaking such as iron ore, coking coal and scrap will ensure steel bars prices remain firm with an expected fluctuation within a narrow range of 10% for the next few months.

The Company expects to improve its sales volume to East Malaysia due to the mega infrastructure projects in the next 5 years. In addition, with the favorable exchange rate between RM and USD, the Company's products will be exported to new customers in the Oceania countries.
22/02/2017 13:56
myongcc5 My greatest mistake not knowing the result out.
22/02/2017 14:14
myongcc5 My sincere apology to all for this careless mistake.
22/02/2017 14:15
myongcc5 Nigel, thank you very much for the infor, btw when was the result released?
22/02/2017 14:16
CaiShenYe poor management
22/02/2017 14:22
probability this will cause it to dip...
22/02/2017 14:37
Jason Chong sifus sifus can explain why result green share price drop.
22/02/2017 14:43
leont Oh no....
22/02/2017 14:43
gogogogo investor expected better result?
22/02/2017 14:46
soojinhou Result is good, just close eye and buy
22/02/2017 14:53
Nigel Low Can buy from panic seller. Don't see anything negative with the results.
22/02/2017 14:54
moneySIFU Surprise for company released the result during lunch time
22/02/2017 14:54
moneySIFU Result not good
22/02/2017 14:56
Lulu La short term investor expectation too high
22/02/2017 14:58
moneySIFU The result really surprised me, I expected far better at about 4cents
22/02/2017 15:02
Up_down Same fate with CSCsteel. MAsteel imports material in USD currency. That's why suffering forex loss RM 11 million.
22/02/2017 15:11
Up_down History repeat...MAsteel suffered forex loss RM 19 million in 30Sep15 when RM had depreciated by 16% in a single quarter.
22/02/2017 15:14
Risk Rider Rebar price up almost 30% also can only make little profit, use brain to calculate whether the price is supported by the result, paying more than PE15 for a steel producer, it's a joke
22/02/2017 15:14
Risk Rider Better sell now before regret later, you can curse me later if the price stay up. But please remember to use your head to calculate the rationality of Masteel price.

There are better choice out there than Masteel which are bigger size & higher profits.
22/02/2017 15:16
probability soojinhou, why do you say its good results?

i can see management seems very optimistic...
22/02/2017 15:23
soojinhou Probability, when I look at results, I always look at the core, and exclude non recurring items. If u take out 11m of forex loss, core eps is around 6 cents.
22/02/2017 15:35
YiStock jinhou, for importer who buy oversea and sell local like Masteel (vs those import & export), taking core earning you think appropriate? your opinion pls.
22/02/2017 15:37
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


 

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