Keyword: Overcapacity of steel manufacturing.

"The overcapacity in construction steel in Southeast Asia requires all stakeholders to work together. As at 2021, the capacity of steel production in Asean stood at 75.3 million tonnes, with Malaysia being the third largest producer with a capacity of 16.1 million tonnes, behind Vietnam and Indonesia.

Based on a South East Asia Iron and Steel Institute (SEAISI) analysis, the steel production capacity in Asean is expected to balloon to 147.2 million tonnes by 2026 as a result of the influx of foreign steel investments into the region, especially those from China.

This can be an issue of concern as we see a slowdown in the construction sector and the subsequent reduction in demand for steel from China. The capacity of China-owned steel firms in Southeast Asia is intended for export to China."

Yes the price of MYCRON might steel go up in the short term, but you will be like a Salmon fish trying to climb a waterfall.
https://theedgemalaysia.com/node/689847

Sold

@beluga, agreed that due diligence is important, but also absorbing market mentality which helps build a picture of direction is no less important to decision making. The past two weeks for example I was able through understanding UAE market mentality and emotions regarding the geopolitical situation in the middle east (Gaza) to collect excellent shares such as ENBD, DIB, NBAD, CBD and RAKBANK at very low prices. The market has now rebounded upwards. In Malaysia, I couldn't understand market direction and feel disconnected.

Beluga, if that is really the case then it's good to prepare to buy more Affin in the near future. Unfortunately, I have lack of info and interaction amongst investors in Malaysia's stock market unlike other markets such as UAE.

I am really now thinking of liquidating my position and moving to a market where there is more interaction, especially between investors.

Any reason why it's falling down?

Where is this counter heading? Any good news about company performance?

Sooo....

What's going on?

I come to this page once a week to see if there is a price crash so i can buy more

Thnx @redhotpepper

Affin never disappoints!

TheContrarian, monitoring and cheering! I am touring the world by car, thats why i am a bit quiet. Anyone wanting to follow my trip on twitter and tiktok @saudiroadrider. Might even end up in Malaysia in my Saudi car :)

@Eric Fong, totally agree. That's why I am a big believer in Affin. Actually, I am excited that it's gone down so I can buy more. Monitoring like an Eagle.

Omg guys, I was being SARCASTIC. lol

I AM A BIG BELIEVER IN AFFIN!

Speakup: you need a course in Sarcasm. The sudden drop of Affin can only mean the bank went bankrupt which isn't the case.

Sooooo, what's going on guys? Has Affin gone bankrupt? Can anyone explain, and when is a good time to buy?

Does the sale to the Sarawak gov mean there won't be any more sell pressure by LTAT? I assume Sarawak gov won't be under pressure to sell the stock and is in for the long haul, could also contribute to bank's performance.

Happy I bought in!

Chill, fear no more.. Everything is under control.. I accumulated more at the right time. Thanks for those who sold.

Seems 1mdb reputation is preventing people from looking through to the opportunity of this bank. Maybe a harsh awakening will come one day to the doomsters.

@lawrence86, PE ratio is key. I am an investor not a trader. AMMBANK PE is 7
CIMB PE is 14
MAYBANK is 12

AMMBANK is much better yield wise.

Collected more today

I would like to be included in group discussions please.. is there a more active platform?

I would like to be included in group discussions please.. is there a more active platform?

I am in..

@Speakup that this may very well be the bottom price. The only way is up.

I have been collecting with every price drop

Most other banking stocks are collapsing except this one. This should tell everyone something.

Thanks TheContrarian, but Bloomberg says P/E Ratio20.47, simply wallst says 27.2

Why is Affin's PE ratio so high atm and is this temporary due to the tax payments or will it be permanent?

Sadly the ship has sailed otherwise I would have increased my holding.

@TheContrarian.. Thanks.. please check your private messages on this website

Hello all.. new to this counter.. anyone can give a quick history about company and outlook?

@TheContrarian, any reason why the 4th Quarter results were in the red?

If it goes lower than 2 I am going to transfer funds from Saudi.. So happy with my Malaysia investment..

Joined the club today.. Tucking myself in for the long ride.

TheContrarian.. monitoring bought a little Mycron

I still have unused cash divs. Need a good bargain stock.. my criteria for a good bargain:
1- low pe ratio
2- high book value
3- nearer to 52 week low price
4- regular divs..
5- No financial troubles..
Any suggestions?

I am patiently waiting to buy more at a price I like. Already got lots of Affin. But cash is king.

Being as moderate as possible, EVERYONE please list your highest predicted price Affin might touch in the NEXT 52 weeks.
Mine, I would say 2.99

I am patiently waiting to increase my holding. Wish i had bought alot more when it hit 1.30 range

I don't mind Affin going lower so I can purchase more with the left over cash divs

Affin is a different kind of beast since beginning of Dec 2022. Last DRP, it plunged to RM1.87 (even with special dividend approaching). This DRP (only 3 months later- NO SPECIAL DIVIDEND APPROACHING) won't go below RM2.03. Key word: MCSI.

@Jguy, DRP of course. But only a portion of the cash can be used for DRP, tye rest will be cash.

Congrats Affinians, DRP price is RM1.85, average target price above RM2.60. Price difference RM0.80.

Pe ratio 3.21 +
Added to MCSI Index +
Average target price above 2.60
= Stock extremely undervalued

@Marks, please explain

Thanks TheContrarian, today new target price by RHB: 2.80.

Just a reminder, Affin will be added to MSCI Index 30th Nov. The REAL journey hasn't started yet.

MSCI Indexes have the power to change the market. When an index is rebalanced, all the ETFs and mutual funds that track it must buy and sell the same stocks. Stocks that are added to the index usually find their share prices rising. The opposite happens to stocks that are dropped from an index.

According to Bloomberg, among seven analysts who track Affin Bank, six have a "buy" call on the stock, while one gives a "hold" recommendation, with an average 12-month target price of RM2.64.
In other words, we are no where near the target yet.

@TheContrarian: not so fast. Did you forget the entrance of Affin into MCSI index on 30 Nov? There will be hungry buyers for those sellers.