Cold Rolled Steel Trend
Government has impose import tax to cold rolled steel from many country include Vietnam and China (Major producer for cold rolled steel) to ensure the competitiveness for our own country company.
The effective date for this import tax was on may 2016, duration is 5 years. In recent quarterly result, we can see cold rolled steel manufacturer such as annjoo and cscstel release an awesome result. This was not mainly due from the increasing of steel price but because of this import tax which enable the company to sell at a higher price.
Below are the link for you to read over the news for import duty/tax :
http://www.miti.gov.my/index.php/pages/view/3343
http://e.vnexpress.net/…/malaysia-imposes-anti-dumping-tax-…
Why Melewar?
Melewar has a good balance sheet. Lower debt and low price. Melewar capacity was not fully used up yet as you can see from annual report. The quarterly result will announce very soon by this two weeks. It's subsidiary mycron has also doing very well too.
Besides, melewar share price doesn't rise much yet if you compare with market leader for cold rolled steel that is annjoo.
This counter is not suitable for trading as inside have a big syndicate take care. For investing, yes it is.
Conclusion:
Don't miss this trend. As it was a bit like export trend for the past 3-4 years. This trend will last long at least for 3 years. It will give a very good return for you, more than what airasia give to you.
Share it to your friend and family. Help the poor to get rich too.
Regards,
马股
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John Chang
waiting qr and waiting to get rich too =).
2016-08-30 17:40