Highlights

THE INVESTMENT APPROACH OF CALVIN TAN

Author: calvintaneng   |   Latest post: Tue, 14 Aug 2018, 11:51 PM

 

CSCSteel - The Flat Steel Stock That Is Stable, Cash Rich & Now A Great Value Buy (Calvin Tan)

Author:   |    Publish date:


Hi guys/gals,

I have always been bullish with Long Steel like Prestar, SSteel & Masteel & Avoided Flat Steel

NOW I HAVE TURNED CONTRARIAN FOR 2 REASONS

 

Reason No. 1 - Long Steel up 100% to 200% no longer a bargain

Prestar at 46 Sen, SSteel at 95 Sen & Masteel as 66 Sen were cheap then. Now most have doubled & tripled in prices. So I am no longer bullish on long steel any more

 

Reason No. 2

Govt imposed high tax on Cold Roll Steel will benefit CSCSteel Flat Steel Stock

While Long Steel Prices have surged near their NTA CSCSteel has fallen to Rm1.51. And with NAV of Rm2.22 CSCSteel is now selling at 32% Discount to NTA - meeting the Margin of Safety of 30% as advocated by Ben Graham

 

And These Are More Salient Factors For CSCSteel

 

1) CSCSTEEL IS A PURE FLAT STEEL PLAYER. So the imposition of tax against Cold Roll Steel Dumping will benefit CSCSteel the most.  With less competition CSCSteel will capture the Lion Share of The Flat Steel Market

 

2) More So As Geely Jv with Proton will ram up production to 400,000 Vehicles for export. Recent Good News of Perodua Increased Sales also bode well for Flat Steel. Flat Steel is used for Car bonnets, roofs, doors & all things flat.

CSCSTEEL STEEL IS USER FRIENDLY FOR ANY PAINT JOB. 

See

Proton looking to sell 400,000 cars per year by 2027 – aiming for 30% market share in Malaysia, 10% in Asean

 

3) CSCSTEEL IS ALMOST DEBT FREE AND HAS A CASH & CASH EQUIVALENT  HOARD OF  RM161 MILLIONS.

And with little need for further capet as it is primary producer of Basic Cold Roll Steel THE CONFIDENCE OF CSCSTEEL MANAGEMENT LIKE Harrisons is now returning more CASH TO SHARE HOLDERS AS DIVIDENDS.

MORE DIVIDENDS CAN BE EXPECTED FOR 2 REASONS:

1) WITH TARIFF AGAINST COLD ROLL STEEL DUMPIMG CSCSTEEL WILL CAPTURE MORE SALES

2) WITH PROTON RAMPING UP EXPORTS ALL THE INVENTORIES OF CSCSTEEL ILL FLY OFF THE SHELVES IN NO TIME

 

SO WITH SO MUCH PROFIT ROLLING IN CSCSTEEL WILL TURN INTO A DIVIDEND CASH COW LIKE CLASSIC SCENIC, UCHITECH, PIE OR HARRISON 

 

4) A PROJECTED 6.6% DIVIDEND IS ANNOUNCED (5 SEN COMES FIRST: ANOTHER 5 SEN LATER)

 

SEE

 

SUMMARY OF KEY FINANCIAL INFORMATION
31 Dec 2017

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
31 Dec 2017
31 Dec 2016
31 Dec 2017
31 Dec 2016
$$'000
$$'000
$$'000
$$'000
1 Revenue
367,187
286,916
1,323,259
1,035,197
2 Profit/(loss) before tax
19,323
7,851
76,079
82,123
3 Profit/(loss) for the period
14,821
6,190
59,810
68,689
4 Profit/(loss) attributable to ordinary equity holders of the parent
14,821
6,190
59,810
68,689
5 Basic earnings/(loss) per share (Subunit)
4.01
1.68
16.20
18.63
6 Proposed/Declared dividend per share (Subunit)
10.00
14.00
10.00
14.00
   
AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7 Net assets per share attributable to ordinary equity holders of the parent ($$)
2.2200
2.1900
 

 

10.00 Sen
is 6.6% Dividend!

 

Share this
Labels: CSCSTEL

Related Stocks

Chart Stock Name Last Change Volume 
CSCSTEL 1.32 0.00 (0.00%) 94,200 

  Be the first to like this.
 
calvintaneng Look at it this way

Liberalising ASEAN equals to a 620 million market for Geely/Proton

CscSteel is already exporting its quality coll roll to others.

So it can compete.

Only dumping of inferior subsidised steel products will face tariff

Think of the Y10 small steel bar.

You can't bend those made in Malaysia with your bare hands.

For inferior Y10 imported and selling at cut throat prices?

Your house will collapse if you are not careful.
12/02/2018 22:52
joetay as usual, tun clown @calvintaneng never looks at the full picture again or neglects important developments.

do u know what is wrong with ur analysis????
12/02/2018 23:23
joetay there r 2 flaws in ur analysis, one is very glaring and the other not so.

do u see it, tun clown @calvintaneng????

lol...........
12/02/2018 23:26
brightsmart industry leader , PE 9, got dividends and new tarif protection....

what so bad?
12/02/2018 23:31
joetay the 2 flaws r very glaring.

what r the push factors to buy this stock besides tariff protection, according to tun clown @calvintaneng????
12/02/2018 23:34
qqq3 investments no need push factors.......just need sustainable earnings and patience.
12/02/2018 23:36
joetay then tell me, is sustainable earnings a push factor then????
12/02/2018 23:43
gohkimhock Agree that sustainability earnings are the key to a company's growth path. As long as it is not volatility.
12/02/2018 23:44
joetay steel companies' income by nature is volatile.
12/02/2018 23:46
gohkimhock Not too volatile like Heng Yuan. One quarter can post big profits, the next quarter could down by as much 50% or even loss.
13/02/2018 00:13
joetay yes, energy prices r the most volatile among all the commodities.

this is also reflected in their earnings.
13/02/2018 00:17
qqq3 haven you heard,? second round of tarif protection stating immediately...The edge.
13/02/2018 00:21
joetay i know there is the tariffs, but look at the bigger picture.

is the malaysian demand for steel still going strong????
13/02/2018 00:34
calvintaneng Sustainable?

When i bought masteel the master of long steel
All mrt. lrt. highrise condo. hsr from kl to spore. hsr to bangkok. bridge fr melaka to sumatra. hsr from kelantan to pengerang. hsr from kuching to tawau.
masteel was 66 sen. now more than double
13/02/2018 01:21
calvintaneng SUSTAINABLE WHEN I BOUGHT PRESTAR?
Guard rails for 7 highways. pan borneo highway. wce highway. pasir gudang highway.

and prestar wheel barrow

I bought prestar at 46 sen. Up more than 200%
13/02/2018 01:23
calvintaneng Sustainable for cscsteel

perodua selling well

boyue coming to tg malim
next is volvo

Asean 10 got 620 million people.

What about exporting back to China. the middle east

Sustainable?

SURE PEOPLE STILL DRIVE CARS
13/02/2018 01:25
joetay as usual, tun clown @calvintaneng is bsing again.

who is the owner of geely????

and who is the owner of csc????

and do u think geely will export the malaysian production back to china????

tun clown @calvintaneng, u r really an idiot for not even knowing this basic facts and u can bs this story.
13/02/2018 08:19
joetay and also, who is going to be the builder of hsr????

so do u think csc will get the biz????

stupid analysis again from tun clown @calvintaneng.
13/02/2018 08:21
calvintaneng Geely exporting cars from Malaysia to China.
Why not?
Malaysia has been exporting Jap brand airconds back to Japan decades ago! Long before even many naive sorchai were born!
13/02/2018 08:27
calvintaneng REMEMBER THESE 3 THINGS TODAY

1. DON'T LISTEN TO SORCHAI DOUBTERS OR NAYSAYERS. STUDY CSCSTEEL PROSPECT CAREFULLY.

2. THEN BUY SOME CSCSTEEL FAST BEFORE PRICES RUN AWAY LIKE PRESTAR WAS 46 SEN AND MASTEEL WAS 66 SEN WHEN CALVIN ISSUED BUY CALLS

3. WAIT UNTIL CSCSTEEL DOUBLES IN PROCE TO RM3.02. THEN SELL FOR 100% GAIN AND LAUGHING ALL THE WAY TO THE BANKS.

MEANWHILE RECEIVE 6.6% TO 10% YEARLY DIVIDENDS FROM CSCSTEEL

SO GOOD AND SO HAPPY NOW!!

YAHOOOOO!!!

HAPPINESS IS FINDING ANOTHER GOOD STOCK AND SHARING IT!!!
13/02/2018 08:34
joetay dont compare aircons to cars, u idiot.

they r of different values and technology.

do u see toyota/hyundai importing their thai/china production back to japan/koran????

obviously u do not understand the international automotive industry.

the economics dont make sense for them to export their overseas production back to their home countries becos firstly, their overseas production lines r to satisfy overseas demand, not internal demand and secondly, their domestic lines r used to produce their most up-to-date models and once a new model is introduced in the home market, the old models will be phrased out.

really, do u need me to expose ur incompetency/stupidity/idiocy in every stock analysis u made????
13/02/2018 08:50
joetay now, pls answer who r the owners of geely and csc.

obviously, u didnt do enough research, thats why u dont know.

u r really an idiot trying to mislead.
13/02/2018 08:51
calvintaneng WAHAHA!!

SORCHAI ASK THIS ASK THAT SILLY QUESTION?

BETTER GRAB SOME CSCSTEEL BEFORE IT FLIES HIGHER AND HIGHER.

THOSE SORCHAI WHO MISSED PRESTAR AT 46 SEN AND MISSED MASTEEL AT 66 SEN WILL ALSO MISS CSCSTEEL
13/02/2018 12:40
calvintaneng WHAT DOES CSCSTEEL STANDS FOR?

C = CASHRICH
S = SLOSHING
C = CASH IN POCKET
STEEL = BEST FLAT STEEL STOCK WITH NO DEBT

SO ALL WHO OWN CSCSTEEL WILL HAVE LOTS AND LOTS OF CASH SLOSHING INTO YOUR POCKETS!!!

YAHOOOOO!!!
13/02/2018 12:45
calvintaneng SEE HOW COLD ROLL STEEL IS CONVERTED INTO PROTON CARS

https://www.youtube.com/watch?v=9DzVzp12pbw
13/02/2018 14:23
calvintaneng 20 COLLS NEEDED TO MAKE CARS IN EARLY DAYS

AS GEELY/PROTON RAMP UP PRODUCTION TO 400,000 CARS A YEAR LOTS OF COLD ROLL STEEL SHEET WILL BE NEEDED FROM CSCSTEEL

THIS IS THE NEW BEGINNING FOR CSCSTEEL

11MP FOR MRT/LRT HELPED MASTEEL

7 HIGHWAYS, WCE HIGHWAY.... LIFTED DEMAND FOR PRESTAR'S GUARDRAILS

SO THE TARIFF AGAINST COLD ROLL STEEL DUMPING WILL HELP CSCSTEEL

PLUS INCREASING SALES FROM PERODUA & PROTON EXPORTING CARS TO ASEAN 10 OF 620 MILLIONS WILL SPUR COLD ROLL STEEL DEMAND

AND WITH INCREASING PROFITS WITH ZERO DEBT CSCSTEEL CAN RAMP UP CASH DIVIDEND FOR SHARE HOLDERS.

AND THEN MR MARKET WILL SIT UP. GO GAGA & CHASE CSCSTEEL JUST LIKE THEY CHASED PRESTAR & MASTEEL
13/02/2018 14:29
calvintaneng CSC up on dividends; AmInvestment says 'value has emerged'

KUALA LUMPUR (Feb 13): CSC Steel Holdings Bhd rose as much as seven sen or 5% to RM1.58 after the company proposed total dividends at 10 sen a share. The dividends comprise an interim and a final payout of five sen each, according to CSC's statement to Bursa Malaysia.

CSC announced its dividends together with its income statement. CSC said net profit rose to RM14.82 million in the fourth quarter ended Dec 31, 2017 from RM6.19 million a year earlier. Full-year net profit however fell to RM59.81 million from RM68.69 million a year earlier.

At 9:19am today, CSC shares were traded at RM1.56. Earlier at 9:17am, the stock was transacted at RM1.58 to become Bursa Malaysia's ninth-largest gainer.

AmInvestment Bank Bhd wrote in a note today: "CSC Steel's FY17 core net profit of RM62.3 million (excluding RM2.5 million inventory write-down) met our forecast and consensus estimates."

"We upgrade CSC Steel from hold to buy, while maintaining our forecast and FV (fair value) of RM1.83 based on 10x FY18F EPS, in line with the average forward PE of major global key steel producers. This is because value has emerged after the steep fall in share price in recent months," AmInvestment said.
13/02/2018 14:36
calvintaneng Another point to note is this:

As Strong Ringgit hit all export stocks

STRONG RINGGIT MEANS GOOD NEWS FOR COMPANIES THAT IMPORT STUFF OR MATERIAL & SELL TO DOMESTIC MALAYSIA MARKET

SO STRONG RINGGIT EQUALS CHEAPER COAL & IRON ORE

THUS BENEFITING CSCSTEEL

ALL CSCSTEEL IS MADE INTO TV PANELS, REFRIGERATOR DOORS, CAR BONNETS & AIRCOND BOXES

WITH MORE PURCHASING POWER ALL THESE CONSUMER GOODS ALSO WILL BE CHEAPER

SO ALL THE POSITIVE FACTORS NOW FAVOR FLAT STEEL


SEE FLAT STEEL PRODUCTS

https://www.google.com/search?q=FLAT+STEEL+SHEET+MADE+INTO+TV+PANEL,+FRIDGE+DOOR,+CAR+BONNET%5C&tbm=isch&tbo=u&source=univ&sa=X&ved=0ahUKEwjendjtraLZAhVEKY8KHW9eADkQsAQIJQ&biw=1920&bih=949
13/02/2018 15:29
joetay as usual, tun clown @calvintaneng is unable to answer basic questions abt a company. thus he started diverting the topic.

so tell me, will geely export its production back to china and who is the owner of csc????

either u didnt do a shareholder analysis or u didnt understand what the shareholding means.

now, dont divert the topic and answer the questions.
13/02/2018 20:44
calvintaneng TODAY MOST STEEL STOCKS ARE UP

GOVT IMPOSING TARIFF ON COLD ROLL STEEL WILL BENEFIT FLAT STEEL PLAYERS THE MOST

SINCE CSCSTEEL IS 100% PURE FLAT STEEL PLAYER IT SHOULD BENEFIT THE MOST

LAST ROUND WHEN GOVT IMPOSED TARIFF ON LONG STEEL PRODUCTS ALL STEEL STOCKS ALSO MOVED UP

LATER FLAT STEEL STOCKS FELL BACK WHILE LONG STEEL STOCKS CONTINUED TO POWER UP

NOW THAT LONG STEEL STOCKS ALSO MOVED BUT IMPOSITION OF TARIFF ON COLD ROLL PRODUCTS PURELY BENEFIT FLAT STEEL STOCKS

AND LONG STEEL STOCKS ARE NOW AT THE TAIL END OF THE BULL RUN. ALL THE POSITIVES ARE ALREADY PRICED INTO LONG STEEL STOCKS

IN COMING MONTHS THE DIVERGENCE OF CSCSTEEL AS A STAR PERFORMER WILL BE CLEARER AND CLEARER WHILE THOSE STILL CHASING LONG STEEL MIGHT BE DISAPPOINTED LATER

THE VERDICT:

SELL ALL LONG STEEL STOCKS INTO STRENGTH

SWITCH ALL INTO LAGGARD FLAT STEEL NOW

AND THE TOP BEST FLAT STEEL IS

"""(((((CSCSTEEL)))"""
13/02/2018 20:55
joetay but tun clown @calvintaneng, u still have not answered my questions to u.

will geely import from malaysia and who is the majority owner of csc????

lol..........
13/02/2018 21:40
calvintaneng LISTEN LISTEN LISTEN!!

THE TIME TO BUY PRESTAR WAS 46 SEN. NOT NOW.

THE TIME TO BUY MASTEEL WAS 66 SEN. NOW TOO HIGH TO CHASE.

THE TIME TO BUY CSCSTEEL IS NOW!!

THE TIME FOR FLAT STEEL PLAYER IS HERE.

BECAUSE OF 2 FACTORS..

GOVT IMPOSE TARIFF OF COLD ROLL STEEL

DOMESTIC DEMAND FOR FLAT STEEL GOODS LIKE CARS. TV. FRIDGE. FURNITURE. CABINET. AIRCOND WILL INCREASE.

TIME FOR CSCSTEEL TO PERFORM!!
13/02/2018 23:31
calvintaneng SEE

20 ROLLS OF FLAT STEEL SHEETS WERE NEEDED FOR THE MANUFACTURE OF 400 PROTON CAR BODY EACH DAY.

ESTIMATED PRODUCTION WAS 150,000 UNITS A YEAR.

AND WITH GEELY JV WITH PROTON PRODUCTION WILL RAMP UP TO 400,000 UNITS A YEAR.

THAT MEANS MORE THAN 160% INCREASE OF COLD ROLL STEEL NEEDED FROM CSCSTEEL

SEE HOW COLD ROLL STEEL IS CONVERTED INTO PROTON CARS

https://www.youtube.com/watch?v=9DzVzp12pbw
14/02/2018 00:35
joetay tun clown @calvintaneng, u still havent answer my 2 simple questions.

will geely export malaysian production to china and who is the majority owner of csc????

so dont divert the topic and act stupid as usual.

once u act stupid as usual and refuses to answer simple questions, we all know u dont even know the stock's basics.
14/02/2018 00:45
calvintaneng SEE

20 ROLLS OF FLAT STEEL SHEETS WERE NEEDED FOR THE MANUFACTURE OF 400 PROTON CAR BODY EACH DAY.

ESTIMATED PRODUCTION WAS 150,000 UNITS A YEAR.

AND WITH GEELY JV WITH PROTON PRODUCTION WILL RAMP UP TO 400,000 UNITS A YEAR.

THAT MEANS MORE THAN 160% INCREASE OF COLD ROLL STEEL NEEDED FROM CSCSTEEL

SEE HOW COLD ROLL STEEL IS CONVERTED INTO PROTON CARS

https://www.youtube.com/watch?v=9DzVzp12pbw
14/02/2018 00:57
calvintaneng US INFRAR BOOM BY USD1.5 TRILLION PROJECTS.

MARKET WILL CONTINUE TO REBOUND!
14/02/2018 07:25
joetay and as usual, tun clown @calvintaneng cant answer a simple question yet still promotes the stock.

just a simple question can expose his stupidity/ignorance.

lol.............
14/02/2018 08:04
calvintaneng SEE

20 ROLLS OF FLAT STEEL SHEETS WERE NEEDED FOR THE MANUFACTURE OF 400 PROTON CAR BODY EACH DAY.

ESTIMATED PRODUCTION WAS 150,000 UNITS A YEAR.

AND WITH GEELY JV WITH PROTON PRODUCTION WILL RAMP UP TO 400,000 UNITS A YEAR.

THAT MEANS MORE THAN 160% INCREASE OF COLD ROLL STEEL NEEDED FROM CSCSTEEL

SEE HOW COLD ROLL STEEL IS CONVERTED INTO PROTON CARS

https://www.youtube.com/watch?v=9DzVzp12pbw
14/02/2018 08:38
joetay and where geely sells so many cars???? export back to china?????

lol.........
14/02/2018 08:40
calvintaneng Not only Proton going to make more cars

SEE PERODUA ALSO MAKE MORE THAN 200,000 CARS

https://www.nst.com.my/business/2018/01/326652/peroduas-vehicles-sales-projection-increase-2pct-209000-units-2018

THEN THERE IS NAZA, HONDA, MAZDA & MANY OTHER CAR FACTORIES NEEDING COLL ROLL STEEL FROM CSCSTEEL
14/02/2018 08:43
joetay but u still tell me where is geely going to export the malaysian production to????

do u know what is ckd kits first????

if u know, then u will know that the other car assembly facilities do not need that much automotive steel from csc.

seems like the more i pressed u, the more u show ur stupidity/ignorance.

lol................
14/02/2018 08:48
calvintaneng HUHUHU!!
14/02/2018 08:52
joetay seems like tun clown @calvintaneng has been driven mad again by me.

but his condition is getting worse.

last time, if we drive him mad, he will quote from the bible. now he just laugh madly.

seems like its getting more and more serious.

lol.............
14/02/2018 08:55
calvintaneng neuwook got brain

good

baby joe wants attention and susu?
14/02/2018 08:56
joetay as usual, tun clown @calvintaneng cannot answer and seeks to frustrate his detractors.

if want to do stock promotion, at least be mature enough to stand the grilling.

just shows ur stupidity and ignorance as usual.

lol............
14/02/2018 08:59
calvintaneng a bird in hand better than 2 in the bush

these are birds in hand and also plenty of susu for baby joe

cscsteel got 6 per cent dividend

mrcb going up by govt support

mphbcap will see action soon

ta enterprize - the next great boom stock
14/02/2018 08:59
joetay but u still have answer my fundamental questions in csc steel and geely, tun clown @calvintaneng.

why r u avoiding answering my questions????

u dont know the answers????

lol..........
14/02/2018 09:00
calvintaneng cscsteel going to shoot past rm2.00

YAHOOO!!!!!!!!!!AHAHAHA!
14/02/2018 09:01
joetay and as usual, i have exposed the stupidity/ignorance of tun clown @calvintaneng just by asking some simple questions.

despite being exposed as being stupid and ignorant, tun clown @calvintaneng still never learns from his mistakes. so how to improve ur analysis??????

lol...............
14/02/2018 09:12
calvintaneng sorry for baby joe he missed cscsteel

next one better act faster ok?

YAHOO!
14/02/2018 09:24


 

541  235  538  569 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 FRONTKN 0.75+0.01 
 FPGROUP 0.445+0.02 
 SAPNRG 0.59+0.01 
 MYEG 1.23+0.04 
 VIVOCOM 0.04+0.005 
 NOTION 0.745+0.085 
 EFORCE 0.735+0.09 
 EFORCE-WA 0.435+0.08 
 MRCB 0.855+0.005 
 KEYASIC 0.23+0.015 
Partners & Brokers