Highlights
KLSE: PERSTIM (5436)       PERUSAHAAN SADUR TIMAH MALAYSIA PERSTIMA BHD MAIN : Industrial Products
Last Price Today's Change   Day's Range   Trading Volume
3.94   0.00 (0.00%)  3.94 - 3.95  4,500
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Overview

Market Cap: 509 Million
NOSH: 129 Million
Avg Volume (4 weeks):46,320
4 Weeks Range:3.83 - 4.28
4 Weeks Price Volatility (%):
24.44%
52 Weeks Range:3.16 - 4.37
52 Weeks Price Volatility (%):
64.46%
Average Price Target: 3.50
Price Target Upside/Downside: -0.44
Stamp duty exempted for year 2021

Financial Highlight

Latest Quarter | Ann. Date 30-Jun-2021 [#1]  |  21-Sep-2021
Next QR | Est. Ann. Date: 30-Sep-2021  |  13-Oct-2021
T4Q P/E | EY: 10.53  |  9.49%
T4Q DY | Payout %: 0.00%  |  - %
T4Q NAPS | P/NAPS: 3.93  |  1.00
T4Q NP Margin | ROE: 5.47%  |  9.52%

Headlines

Date Subject
22-Sep-2021 Mplus Market Pulse - 22 Sept 2021
22-Sep-2021 Corporate News Summary - 22.09.2021
24-Aug-2021 PublicInvest Research Headlines - 24 Aug 2021

Business Background

Perusahaan Sadur Timah Malaysia Perstima Bhd is a Malaysia based company engaged in manufacturing and supplying of tinplate and tin free steel in domestic and export market. It has been equipped with a Halogen type Continuous Electrolytic Line. Coil products, cut sheet, scroll cut and tin free steel are the form of the products offered by the company. The group has two business segments based on the geographical locations, in Malaysia and Vietnam. The company operates in Malaysia, Vietnam and Other countries of which majority of its revenue from manufacturing and supplying is derived from Malaysia.
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  5 people like this.
 
lionel messi forgot to add, even if you don't have any mother share to sell for arbitrage, just buying the OR on itself is worth it and low risk. At the current OR price of RM1.56 and go through the rights issue, your mother share cost is only RM3.04 compared to the mother currently at RM3.23.

Of course the mother share can go down before the rights are listed but you already have a 20 sen hedge. And if you are familiar with their price trend, they have rarely gone down below RM3.20.

Go figure and buy. Today is the last day of OR listing.
21/10/2020 2:13 PM
AlfI3 Previously rarely went belo 3.20 was true. But after d RI & Bonus issue listing into d mkt, wudnt it dilute further to d level lower than 3.20?
24/10/2020 5:49 AM
lionel messi What I meant was it rarely went below RM3.56 before the rights and bonus which is equivalent to RM3.20 after ex. Quite low risk for a high dividend and profitable stock.
27/10/2020 9:02 AM
AlfI3 Is proven tat it nvr gone beyond 3.2 till d listing of RI by tmrw. Is a solid & stable shares to b invested on for better financial flow after d RI
10/11/2020 5:46 AM
lionel messi wow, suddenly shot up past few days on increased vol. uncle KYY buying? certainly checked all his boxes.
23/11/2020 12:18 PM
Diamond7 Yes
Strong n steady!

Hope will break 4.00
N move up to 4.50
03/12/2020 7:50 PM
lionel messi announced today that Malaysia imposes anti-dumping duties on flat-rolled steel fr China, S Korea and Vietnam. Positive news for Perstima?
23/12/2020 4:24 PM
lionel messi wow, shooting up like crazy. small cap with good earnings and div. easy to push
29/12/2020 12:30 PM
IBestDividend Another bonus may be announce :-)
29/12/2020 6:12 PM
yuhang99 https://investmiles.blogspot.com/2021/01/perstim-5436-67.html
29/01/2021 2:19 AM
IBestDividend Good 3rd quarter report and share price will up
29/01/2021 8:13 AM
IBestDividend Break 4 again, onward to 5 soon :-)
17/02/2021 5:37 PM
Up_down New Tinning Line With Insoluble Anodes For High Quality Strip To PERSTIMA, In The Philippines

https://theenergia.com/new-tinning-line-with-insoluble-anodes-for-high-quality-strip-to-perstima-in-the-philippines/
11/04/2021 12:50 PM
Up_down Tenova chooses ABB automation and drives systems for new tinning line plant in Southeast Asia

https://new.abb.com/news/detail/73515/tenova-chooses-abb-automation-and-drives-systems-for-new-tinning-line-plant-in-southeast-asia
11/04/2021 12:52 PM
Up_down Tinplate selling price remains moving upwards as stated by Johortin in the latest quarterly report.

Prospect - Johortin
Steel price continue its uptrend and with the higher raw material costs, we will have to adjust our selling prices accordingly and this will create a challenging business environment for tin cans.
17/04/2021 2:56 PM
lionel messi Based on the previous 3rd qtr result, coming 4th qtr result is likely to be good. Hopefully dividend will go back to pre pandemic level of 30 sen per financial year.
27/04/2021 12:09 PM
Up_down Perstima may not be able to pay high dividend as cash is needed to fund the new factory in Philippines. Expecting dividend of 30 cents to 50 cents when Philippines factory starts contributing profit.
03/05/2021 1:15 PM
lionel messi Good results and big div coming?
05/05/2021 3:08 PM
Up_down Good news to Perstima to increase profit margin on their products.

https://eurometal.net/china-cancels-export-rebates-for-most-steel-products/
05/05/2021 3:14 PM
Up_down Electrolytic tinplate products are under HS code 7210 which is within the range of the removal of the of export rebate.

https://www.steelorbis.com/steel-news/latest-news/china-to-remove-export-tax-rebates-on-146-steel-productshrc-affected-not-crc-and-hdg-1197361.htm
05/05/2021 3:34 PM
Up_down Currently, Persima was merely enjoyed net profit margin 9% in the latest QR, at much lower than export rebate given by China. The potential of margin hike is imminent in near future as Asia electrolytic tinplate prices is mostly driven by the influx of products from China with the fully refund of 13% VAT for export overseas.

https://hs.e-to-china.com/hs-code-7210-d_3-t_2.html
05/05/2021 4:08 PM
Diamond7 Buy n keep
Good dividend!
06/05/2021 9:08 PM
Up_down Electrolytic tinplate market works in an oligopoly manner. It seems they have a common consensus in setting up a factory in each country of SEA.

Factory capacity per year
1. Perstima Malaysia - 200,000 mt
2. Perstima Vietnam - 120,000 mt
3. PT Pelat Timah Indonesia - 160,000 mt ( controlled by Nippon Steel)
4. Siam Tinplate Thailand - 140,000 mt ( controlled by Nippon Steel )
5. Perstima Philippines - 200,000 mt
06/05/2021 10:22 PM
Up_down Perstima is actually controlled by JFE Shoji, the second largest shareholder and the sole raw material (black plate) supplier. Electrolytic tinplate manufacturing does not require high capital intensive or technology skill. The high bearer of entry is to obtain reliability long term supply of black plate for producing electrolytic tinplate.
07/05/2021 9:07 AM
Up_down JFE Shoji and Nippon Steel don't sell the black plates to outsiders other than their related companies. It is highly capital intensive for setting up black plate production facilities as the products are typically catered to automobile and ship building markets. Black plate for producing electrolytic tinplate market is obviously too small in contributing to the turnover.
07/05/2021 9:18 AM
Up_down Information about the Philippines market as extracted from the funds raising in 2018:

1. Philippines has a population of approximately 100 million with no existing tinplate manufacturers
2. Tinplate in the Philippines are mainly sourced from other countries. (China, Korea & Japan)
3. The annual domestic demand is approximately 220,000 mt
07/05/2021 10:59 AM
Diamond7 Coming quarterly report should be good.
Hope they give 30 to 50 cents dividen
14/05/2021 3:02 PM
nextan Good QR results but why no declare any dividend?
26/05/2021 6:52 AM
lionel messi not no div but not yet. last year was in Jul
26/05/2021 8:40 AM
nextan This year 20 cents possible?
26/05/2021 10:01 AM
stockraider Perstima result is excellent mah!
26/05/2021 12:57 PM
stockraider Dividend will be declare later loh!
26/05/2021 12:57 PM
Bgt 9963 Post removed. Why?
04/07/2021 9:46 AM
stockraider Buy lah...blue chips...financial very strong...good dividend mah!
04/07/2021 12:50 PM
scenery Post removed. Why?
04/07/2021 2:11 PM
greenshoot propose a Final Single-Tier Dividend of 20.0 sen per ordinary share in respect of the financial year ended 31 March 2021
16/08/2021 3:30 PM
lionel messi Back to paying high dividend again after a one year break due to high capex requirement. If the upcoming 1st qtr result is good even in the middle of the pandemic, confirm it's a well managed, inelastic, monopolistic, low p/e and high dividend yield stock. Share price will explode. Cheers to all investors.
22/08/2021 9:15 AM
Bgt 9963 Post removed. Why?
22/08/2021 11:41 AM
lionel messi About the only issue with this counter is liquidity. There is very little free float. Even after their recent rights and bonus issue last year. Any big buyer put a squeeze on it, price will fly. But fundamentals are so so good.
28/08/2021 4:47 PM
stockraider Go for it

Just Buy lah!

Superb earnings growth mah!
29/08/2021 12:55 PM
lionel messi Thanks stockraider. Totally agree with you. This is a high growth and high dividend stock waiting to be discovered and explode. When their Philippines plant start to contribute in a big way very soon, earnings growth is going to be exponential. But it is so small cap and the sellers are so far and few in between. Cheers.
29/08/2021 4:41 PM
Richard Lee 20cents DIV not bad.
21/09/2021 1:05 PM
Sebastian Power Slightly disappointed with the QR yesterday. With higher REV but lower profit? What to do? this is the nature of business

Good potential with the demand of tin. Good chance to add more today. 20c DIV (assume RM4 purchased price translate to 5% interest liao)
22/09/2021 9:30 AM
kong73 New PERSTIMA tinning line in the Philippines expected to be operational by Q4-2021
Jan 20, 2021
Tenova reports that it has been contracted for a 200,000 tonnes/year new high-speed electrolytic tinning line with insoluble anodes by Perusahaan Sadur Timah Malaysia (PERSTIMA) Berhad, premier producer and supplier of high quality tinplate in South East Asia. This cutting-edge technology will be implemented in PERSTIMA’s plant in Batangas (Philippines). The electrolytic line is expected to be put into operation by Q4-2021.
The electrolytic combined tin-plating and tin-free steel line will work at 550 meters/minute at entry/exit and 420 at the process section, for annual production of 200,000 tons. The steel strip will be 550-1000 mm wide and 0.10-0.60 mm thick, and the line will process all the main grades of steel for a product mix which will satisfy the most recent demand of the high-quality market. A minimum tin coating thickness of 1.1 g/m2 is guaranteed.
The line is equipped with a dedicated section (cells and recirculation equipment) for the production of tin free steel process as well. Tenova will provide the state-of-the art automation with an enhanced Web-Based Level 2 and Roll Management Software to automatically schedule roll activities in the processing line.
“Tenova insoluble anodes technology will permit an easier handling of the process section with highest safety for the operators. Tenova developed an advanced system for the tin-dissolution reactors, achieving very low tin losses in the sludges. This represents a very positive aspect both for economic and environmental reasons”, affirmed Giuseppe Zanzi, Tenova Italimpianti & Strip Processing Sales Manager SEA & India.
“This new project will allow our customer to address the request of higher quality tinplate and TFS in the region, confirming our position in high-standards tin-plating market, after previous important contracts in Spain and in China, among the others”, affirmed Stefano Marelli, Tenova Global Sales Manager South East Asia.
Finally, a further improvement in the quality of the tin-plate has been achieved through the development of special edge-masks. These devices prevent the “white edge defects” due to tin overcoating at the edges while processing strips with different widths. In addition, Tenova edge-mask design guarantees easy inspection and access to the cell. Tenova Insoluble Anode Technology with IGBT Rectifiers globally permits a large operating saving in tin and electrical consumption, guaranteeing the top of quality.
06/10/2021 12:39 AM
kong73 2022 will be a good year with revenue from Philipine market realised
06/10/2021 8:30 AM
Richard Lee last day for 20cents DIV. Next year DIV confirm 50-100% more after Philippine in operation
06/10/2021 9:29 AM
kong73 Perstima is solid as a bull
06/10/2021 12:34 PM
Sebastian Power after exDIV macam sudah puncit
07/10/2021 3:20 PM
lionel messi Normal behavior of such small cap illiquid counter. No more excitement after div. Furthermore with poor recent quarterly result. Unless next qtr result is going to be good. Then some excitement with insiders slowly and quietly buying.
08/10/2021 12:01 PM
stockraider Potential more than 20 sen dividend for this share loh!
08/10/2021 1:26 PM


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