这一季比起上一季，股东税后盈利是RM1.5亿，高于Q3的RM1.3亿，QoQ+14%。这一季的税收是RM1200万，低于Q3的RM2600万，QoQ-55%。

在二月27日，齐力宣布Press Metal Bintulu Sdn Bhd，80%拥有的子公司，和HNG Capital Sdn. Bhd.进入买卖合约，收购100%的Leader Universal Aluminium Sdn. Bhd. (LUA)股权，代价是RM9600万。LUA的FY2016的税后盈利是RM1500万，所以收购价是PE6.2。

前景：
铝的价钱从2017一月的$1800涨到年底的$2241。全球产量稍微减少，中国也在11月时制定Winter Policy。中国关心环保，已采取几项措施来限制产量。多数分析员认为商品价钱会保持稳定。齐力会找并购的机会来扩张。

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James Ng

For FY2017, PRESS METAL ALUMINIUM HOLDINGS BERHAD (PMAH) total dividends of RM0.06 declared (dividend paid to the owners of PMAH was RM225m), with share price of RM5.47, has a dividend yield of 1.1%. Total borrowings were RM3.1b, and (deposits, cash and bank balances) were RM233m.

FY2017 profit after tax attributable to equity holders of the parent was RM603m, higher than last year RM484m, YoY+25%. Higher revenue was mainly contributed by the higher metal price and their smelting plants continued to operate at full capacity. Samalaju smelter achieved full production capacity since April 2016.

QoQ, profit after tax attributable to equity holders of the parent was RM150m, higher than Q3 RM132m, QoQ+14%. Taxation in Q4 reduced to RM12m, from Q3 RM26m, QoQ-55%.

On 27 Feb, PMAH annouced that Press Metal Bintulu Sdn Bhd, a 80%-owned subsidiary, has entered into a Share Purchase Agreement (SPA) with HNG Capital Sdn. Bhd., for the acquisition of 100% of the issued and paid-up share capital of Leader Universal Aluminium Sdn. Bhd. (LUA) for a consideration of RM96m. LUA's profit after tax for FY2016 is RM15m, so the acquisition price is about PE6.2.

Prospects:
Aluminium price was traded from about $1800 in January 2017 to end the year at $2241. Global supply is facing slight deficit and China has implemented Winter Policy in November. China has been concerned with the environment condition and have taken a few measures to tackle the issue and limiting industry output. Most analysts are of the view that commodities prices will remain firm. PMAH will look out for expansion opportunities via merger and acquisitions.

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James Ng