Koon Yew Yin's Blog
AYS is cheapest among all steel stocks - Koon Yew Yin
Koon Yew Yin
Publish date: Tue, 23 Nov 2021, 11:11 AM
Koon Yew Yin
0 1,434
An official blog in i3investor to publish sharing by Mr. Koon Yew Yin.
All materials published here are prepared by Mr. Koon Yew Yin
All materials published here are prepared by Mr. Koon Yew Yin
On the first day after the Budget 2022 announcement, Bursa Malaysia took a beating. The FBM KLCI, which is a gauge of the 30 biggest companies on Bursa Malaysia, dipped by 2.2%. RM34bil of market capitalisation was wiped off from the stock market, 178 stocks went up, 996 stocks dropped with 327 unchanged.
The biggest culprit is the additional windfall tax.
The government also proposed a one-off windfall tax called Cukai Makmur, and higher stamp duty for stock trading on Bursa Malaysia, to raise its revenue.
Under the Cukai Makmur, companies that churn more than RM100mil in annual income will be taxed 33% in 2022, from the current 24% tax rate.
In addition, the government will remove the RM200 stamp duty cap and increase the stamp duty rate to 0.15% from 0.1% for stock trading.
This Cukai Makmur is definitely not good for all investors including day traders, long term ordinary investors, institutional and foreign investors.
The proposed windfall tax increased from 24% to 33% is depressing all the stock prices. As a result, practically all the listed stocks have been dropping since the announcement.
As I said before, no stock can continue to drop for whatever reason. After some time, it will rebound upwards. Yesterday AYS shot up 6 sen per share. AYS is still the cheapest among all the steel stocks as you can see the comparison below.
|
Name |
price |
Latest EPS |
EPS divided by price |
|
1 AYS |
68 sen |
8.5 sen |
12.5 |
|
2 Leon Fuat |
85.5 sen |
9.76 sen |
11.4 |
|
3 Tashin |
6 sen |
5.97 sen |
9.8 |
|
4 Mycron |
45 sen |
4.13 sen |
9.2 |
|
5 Choo Bee |
Rm 1.98 |
17.15 sen |
9.0 |
|
6 Hiap Teck |
52.5 sen |
4.26 sen |
8.1 |
|
7 L Steel |
62.5 sen |
5.01 sen |
8.1 |
|
8 Melewar |
38.5 sen |
2.64 sen |
6.9 |
|
9 Astino |
68.5 sen |
2.5 sen |
3.7 |
|
10 CSC Steel |
Rm 1.27 |
2.7 sen |
2.1 |
Related Stocks
| Chart | Stock Name | Last | Change | Volume |
|---|
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Discussions
Be the first to like this. Showing 17 of 17 comments
1 minggu repost 3 kali. Ini macam ada udang disebalik batu wor....
beware beware......
2021-11-23 16:11
Prestar EPS 7.21 ssen overtake AYS EPS 6.51 sen for this quarter, Dividend higher at 2 sen vs AYS 1.5 sen, Share price also cheaper at 61.5 sen compare to AYS 68.5 sen, Director keep buying prestar at 60 sens.
2021-11-23 18:27
Ays latest results fail KYY golden rule of 2 consecutive earnings growth. Will he sell after the weaker results?
2021-11-23 18:33
No stocks can continue to drop for whatever reason? Uncle KYY said the same about Supermax when it was RM6
2021-11-24 09:36
No eyes see this old fox, typically old man mumbling every day
huat ah, ong ha, buy ah, cheapest ah…..
2021-11-24 11:00
All steel prices are in downtrend mode, when down trend, materials which bought at higher price is now selling at the lower end product price, making profit margin squeezed.
When price up, material bought cheap can sell higher, it is common to see all steel companies did well when price up, did terribly bad when steel price down
2021-11-24 11:02
up to no this old age still do not know some stocks are trading at so call cheapest for very good reason behind, what to do? either you are s..... or s....... lol
2021-11-24 14:03
now con ppl to buy AYS so he can take profit. same modus operandi over the years but comforting to see in the comment thread that many has already seen thru his tricks
2021-11-25 08:41
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CS Tan
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
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If making money in the stock market is as simple as tabulating historical eps divided by share price and conclude the one with the highest ratio is "cheapest", then everyone can become rich without working hard. Do we still need fund managers and analyst are redundant?
2021-11-23 14:31