Prestar reported EPS 7.21sen in its latest quarter ending Sept and EPS 9.59 sen in its previous quarter, total-ling 16.8 sen.
Leon Fuat reported EPS 11.34 sen in its latest quarter ending Sept and EPS 9.76 sen in its previous quarter, total-ling 21.1 sen.
As mentioned in the article below, steel price has been going up as much as 41%. All steel stocks especially Prestar and Leon Fuat which have reported the best profit growth rate in the last few quarters, should report better profit before the end of February.
Govt urged to intervene over rising prices of building materials
FMT Reporters December 13, 2021
The building and construction industry has urged the government to intervene in managing the increase in building material prices.
In a joint statement today, a group of property and contractors’ associations said the increase had directly impacted the cost of doing business.
“The increase has directly impacted the cost of doing business which has resulted in 13% to 20% hike in construction costs. Some items which have shown drastic price increases include mild steel, up to 41%, and sand, up 20%, since October 2020.
“We are worried that if these issues are not given urgent attention, the industry will suffer further and subsequently adversely impact the country’s economic growth,” said the group, which included the Master Builders Association Malaysia and the Real Estate and Housing Developers’ Association Malaysia.
Citing data by the Construction Industry Development Board and the statistics department, the associations said private sector projects comprised 65% of all projects awarded up to October.
“With such huge numbers undertaken by the private sector, it is imperative to give the same priority accorded to other sectors, to the building and construction sector, otherwise the efforts towards economic recovery would be derailed prematurely.”
The group said that among the major factors affecting the price increases were the surge in cost of raw materials, an acute shortage of foreign workers, increased logistics costs, the upward trend in prices of crude oil and the rise of energy costs.
The associations urged the government to conduct continuous monitoring and necessary enforcement to ensure there was no profiteering as well as anti-competition in the supply chain of the industry.
The entry of foreign workers must also be expedited to ease the current shortage, they said.
The group also called for the variation of price (VOP) clause in contracts for government projects to be extended for at least another 12 months, saying builders expected price volatility to remain beyond the end of the year.
“For private projects, the government must encourage project owners to introduce VOP in their contracts,” the statement added.
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Prestar and Leon Fuat sure will report better profit but don't focus on steel alone diversify into plantation counters too Taann, Sop, Swkplant, Bplant.
2022-02-13 11:53
Plantations has been reporting increasing profit for past many qtrs and the next many qtrs . It’s better than steel
2022-02-13 17:33
Glove stocks ... aged bull
Tech stocks ... matured bull
Plantation stocks ... infant n growing big bull !!!
2022-02-13 18:21
DrSteel
Ukraine, Russia conflict could hit US steel industry
https://www.argusmedia.com/en/news/2295822-ukraine-russia-conflict-could-hit-us-steel-industry
Russia and Ukraine have been critical pig iron suppliers to the US for years, comprising more than 60pc of the imports coming in since 2018. The US sources from several key producers in the Black Sea, many of whom account for a significant share of the US's low-phosphorus higher-priced pig iron. The region contains coastal borders of both Ukraine and Russia.
The potential conflict between Russia and Ukraine could force US pig iron consumers to lean on other global pig iron suppliers like Brazil, which made up 20pc of US pig iron imports since 2018. Brazilian pig iron is typically higher in phosphorous, making it less desirable to steelmakers in general.
https://www.spglobal.com/platts/en/market-insights/latest-news/metals/012122-ukraine-steelmakers-miners-report-business-as-usual-despite-border-tensions
Ukraine is a major steel and iron ore producer. In 2021 and 2020 it made 21.4 million mt and 20.6 million mt respectively of crude steel and was the 13th largest steel producer among 64 worldsteel-member countries. Normally, 80% of its steel output is exported. Over the same period, Ukraine exported 44.4 million mt (2021) and 46.2 million mt (2020) of iron ore products, making it the fifth largest iron ore exporter in the world.
The majority of sources surveyed did not believe in a worst-case scenario, but admitted that if this did occur, the impact would be felt across Ukraine's entire steel industry.
"It all depends on the scenario, but the majority of [steelmaking and steel raw material mining] enterprises could be affected as over 90% of them are concentrated in the east of the country, and if it comes to hostilities, they will first of all unfold in the east," said Yuri Dobrovolsky of Ukrainian Industry Expertise, a market research and consultancy company.
2022-02-12 22:54