Koon Yew Yin's Blog
Steel stocks comparison update - Koon Yew Yin
Koon Yew Yin
Publish date: Tue, 08 Nov 2022, 03:08 PM
Koon Yew Yin
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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
Increase construction activity:
Construction activity in Malaysia rose 6.1 percent year-on-year in the June quarter of 2022, rebounding from a 6.1 percent drop in the prior period and indicating the first increase in a year, as the economy fully emerged from coronavirus curbs. There was an upturn in activity related to residential buildings (7.9 percent vs - 11.9 percent in Q1), while the output of non-residential buildings picked up strongly (18.1 percent vs 4.2 percent), and special trade activities continued their double-digit growth (11.9 percent vs 24.1 percent). In contrast, civil engineering activity fell at a slower rate (-4.4 percent vs -15.5 percent). Source: Department of Statistics, Malaysia.
Steel price increase as shown below:
AYS reported EPS in the last 5 quarters as shown below:
Steel stocks comparison update
| Name | Price | Latest EPS | 4 X EPS | PE ratio |
| AYS | 45.5 | 5.24 | 20.96 | 2.03 |
| Leon Fuat | 50 | 4.11 | 16.44 | 3.04 |
| Prestar | 43.5 | 3.27 | 13.08 | 3.33 |
| Hiap Tek | 23 | 1.41 | 5.64 | 4.10 |
| Pantech | 67.5 | 3.78 | 15.12 | 4.46 |
| CSC Steel | Rm 1.17 | 4.62 | 18.48 | 6.30 |
Currently AYS is selling at 45.5 sen. As shown on the above table, it is selling at the lowest PE of 2.03.
It reported latest EPS 5.24 sen and 22.94 sen for the last 4 quarters as shown above. It is selling PE 1.98.
In view of the increase of construction activity and the rising steel price, AYS is best stock to buy.
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Steel rebar futures rose past the CNY 3,550 mark, extending the rebound from the 2-1/2-year low of CNY 3,464 hit on October 31st as Chinese production curbs for the winter due to pollution controls are set to lower supply. Still, recession concerns continue to pressure demand for steel and other base metals, limiting the rebound in prices. Fresh trade data showed that the world’s top consumer imported 4.7% less steel-making inputs in October on a monthly basis. On top of that, investment in the country’s giant property sector fell more than 8% year-on-year in the first 9 months of 2022, signaling a lower use of steel. Last month, the World Steel Association revised its forecast of global demand to contract by 2.3% this year, compared to earlier forecasts of a 0.4% rise. Meanwhile, Chinese authorities emphasized that the country would stick to its zero-Covid policy, refuting rumors that believed the economy would reopen.
2022-11-09 08:31