Good morning edward, so early bring us the good news.
Thanks for your sharing bro, awesome!

Agreed with Gohku, same information I get from a friend that attend to AGM.

Axiata has launch Boost Mobile Payment, now most of the night market in klang valley can see consumer and hawker start to use Boost mobile payment.
Next year Touch n Go will launch the Alipay system, then Maybank will working with Tencent Wechat pay.
The whole industry moving is faster than your expectation, faster than my predict...

Let me repeat what I have posted few months ago:-

Posted by Albukhary > Aug 26, 2017 12:36 AM | Report Abuse X

The problem the Opensys facing is technology change faster than it expected!
When Opensys launch CRM, it thought this technology will replace all the ATM within the next few year.
Manatahu fintech is growing so fast, and very soon more n more people will use mobile pay, e-wallet...etc, so less people will use cash.
If you go to China nowadays, you will understand how fast the mobile pay technology, as 70% of the people in city are not carry cash anymore.
Therefore, before Opensys's CRM can replace ATM, it already being replace by fintech.

You guys must understand, for Bank to decide invest in CRM, bank must consider from a lot of perspective, as the cost for each unit of CRM is not cheap, and you need to spend a lot of money to integrate it with you bank system...etc, and all these cost may need 3-5 years for bank to recover back it cost of investment. If bank already can foresee that in the next 3-5 years 70% people are not using cash anymore, then I'm pretty sure bank wont continue invest in the CRM machine.

Design plan pun tak ada, approval pun tak ada, apa XXXXXX pun tak ada, still dare to come out con people, salute to Dato.

Many developer has land ready, design plan completed, approval from authority done, advertisement permit done, bridge loan ready, but not dare to start the project, keep in store wait n see first, coz market too bad.

But this type of "Tiger" company, apa pun tak ada, lagi mau announce kuat kuat to attract small retail investor... haih...

hebeds, you are good one.

Quak Leng Chan is the boss of Hong Leong Group

IF SSTEEL REALLY WANT TO PUSH UP, WITH SUCH SMALL AMOUNT OF FLOATING SHARE, I BELIEVE IT CAN BREAK RM2.50 EASILY WITHIN 3 DAYS.

Dufu is good pick

Thanks edward bro

Venfx, I am disagreed with your point, maybe I'm looking from different perspective.

1st, a company that have 900mil per quarter, the trade receivable of 342mil is very normal..
It is more like equal to 35 days outstanding only. That mean, the 342mil could be due to those sales incurred during 25 Aug - 30 Sep 2017, which is haven't due for payable at at 30 Sep 2017.

2nd, compare to the rest of 3 competitor, you will realised that SSTEEL gain a lot of market share during the latest quarter. I suspect maybe other competitor tighten their credit term, while SSTEEL have Hong Leong support, so it can give its customer better credit term, with credit line / bank acceptance...etc support by Hong Leong Bank.

Anyway, the above is just my own opinion, you can disagree with me also.

leoting, if what you said is true, then SSTEEL should be also benefited right? Assume SSTEEL paid USD150mil for its scrap metal, electrode, previously need to pay 638 mil, now only need to pay 609 mil, immediatelt save RM29mil.

Edward bro, looking forward for you to update the steel price.
It seem like China steel price increase non-stop, did Malaysia follow?

Tatyang Liew, where are you refer for the 62mil?
Look at the annual report, SSTEEL trade receivable is very healthy.

冷眼大师的座铭：-

没成长，不要买
有成长，不要卖
成长长，长持有
成长短，短持守

简简单单的16个字，看起来很容易，要领悟不简单，要运用有难度，要坚持更加难。

Wah Q4 eps only 0.8sen, crazy ar... I expect at least 3 sen leh.
Don't scare me kaw kaw..

For me, Digistar business should be very easy to understand.

Government pay rental RM3mil per month, so 1 year is RM36mil.

Digistar paid bond interest around 5% x RM280mil, so 1 years is RM14mil.

The Trade Receivable RM180mil divided by 15 years, so 1 year recognised cost RM12mil.

The cost to maintain the building (i.e. grass cutting, M&E repair here n there) - RM2mil per year

Gross profit should be RM36 - 14 - 12 - 2 = RM8mil.

Then I assume the Hotel business, IT business, CMS business can earn enough to cover all the cost (director salary, staff salaries, office rental, hotel maintenance...etc), then Digistar should earn minimum RM8mil per year.

Next year onward, after Digistar settle the 1st Tranch of bond RM60mil, it debt will reduced to RM220mil. So this RM60mil debt repayment will increase its profit by RM3mil per year, become RM11mil.

At the same time, if Digistar can clinch another similar project again, then the profit will be double , become RM22mil.

Hi AK2899, let me explain to you based on my understanding.

I have ask many accounting expert, but no one can give me a satisfy answer, so I analyse it and come out with my own conclusion.

In order for you to have a better understanding, I will illustrate it with other scenario:-

Company A sign a contract with Company B, where Co A will build a Cruise at RM180mil for Co B, and Company B will lease the Cruise from Co A for 15 years, and the rental is RM3mil per month.

So in the Balance Sheet, Co A has incurred RM180mil to build the cruise, but the Cruise is not belong to Co A, so it cannot recognized as Fixed Asset, so it have to recognised as Trade Receiveable.

Then every month Co A issue invoice to bill Co B for the rental, so the rental will reflected in the Revenue. How about the cost? What is the cost incurred for every month? Actually there is no cost, because the cost has been pre-incurred when Co A build the Cruise. So, in order to match the sales, accountant will slowly recognised cost, so you will see the trade receivable getting lower month by month (similar to depreciation concept).

After 15 years, the Trade Receivable will become Nil, and the rental revenue also no more, and the cruise belong to Co B.

The above is a very simple scenario, so it cannot direct reflect the Complexity of Digistar Scenario, because it involved intercompany billing (Government award project to Indera Persada, Indera Persada appoint Digistar Holding S/B to construct the building, and Digistar Holding S/B outsource it to main contractor....etc).

If you company this QR with previous QR, you will suprise why the Non-Current Trade Receivable increased from RM153mil to RM172mil (increase by 19mil)?
There are two reason:-
i) Over-recognise cost in previous quarter, so now they adjust back. That why you see there is no COGS in current quarter.

ii) Last quarter the trade receivable in Current Asset is 61mil, if we added on this quarter sales 20mil, total trade receivable should be 81mil, but why it suddenly reduced to 37mil (reduced by 44 mil).
I suspect the reduction of 44 mil, 19 mil has been transfer back to Non-Current Trade receivable, and balance 25mil has been received from government.

The above is just my own interpretation, please correct me if I am wrong.

That day at NKVE Shell Station, I saw two EG Industries truck carried 40ft container. Seems like very good business, because they have their own truck and own container.

VenFx, why congrats me, I'm still making many many losses in this counter... haha

Government sure need to pay, just not sure how long it will drag.

For the past 5-10 years, most of the government project are under PFI scheme (Private Finance Initiative). That mean, Government will provide the land, and private sector will finance and construct the building, then Government lease back the building for a certain period with certain rental. After the concession period end, the building will be surrender to government.

If Government start to drag payment, then company cannot pay back the loan / bond, then government reputation will be affected, because bank give loan to the company based on the guarantee rental agreed by government.

If government default, then bank wont release loan to other PFI project, and the whole country infrastructure project will be suspended immediately.

Ks55, don't simply cut.
Be patient, I'm still waiting to belanja you at RM4

看了这篇文章，真的感同身受，起步真的很难。

当年我也是这样，拿着RM1800的工资，驾着辆二手的kancil（RM9000，哥哥帮我买，每个月还RM400给哥哥），每天午餐控制在RM5内，没有娱乐，没有交女友，每个月都买入RM700-800的股票。

挨了几年后，股票户口也有二三十千，但组合表现很差，就开始高回筹的香港窝轮（在马上市），又开始玩T+3, 又借personal loan，又向朋友借钱，信用卡刷现金出来投资，不到一年，就把股票户口从20千滚到200千（包括资本，债务，盈利），每个礼拜进出RM500-600千的股票买卖，remisier抽我0.7%水钱，我从一个小客户变成了他的主要客户。

突然，港股开市插水，一天掉个1000点，市场受到惊吓，我的窝轮亏本卖都卖不出，force selling 拼命卖，3天前买RM0.195的窝轮可以force selling在RM0.045，不到两个礼拜，我的户口资金完了，倒欠股票行RM200千的contra loss，外面又欠朋友，家人，卡债，个人贷款，差点要自杀了。

股灾过后，我用了4-5年的时间慢慢还完不好的债务，也在同时间累积了良好的债务，慢慢的回到了轨道，比起同年毕业的朋友们，我已经落后他们了，但我累积的良好债务，让我在3年内又可以更他们平起平坐了。

想回去，当初真的很难挨。走错了一步，就要用好多步来纠正，所以要想清楚啊！

Lchits, digistar result out d, very positive.
真系估他唔到, haha!

Look at its cash flow, very nice.
Look at its cash n bank balance, very nice.

No more impairment loss.

For me, this result is considered above expectation.
Short term target RM0.73. (1 week)
Middle term target RM0.90 (1-2 month)

Waiting for Leoting analysis tonight, haha...

Once the government payment in, Indera Persada will definately declare dividend to its shareholder, which is Digistar, Kumpulan Melaka and Pembinaan Sujaman.

Because Indera Persada is just a SPV for this project, as long as it cash flow sufficient to met its debt obligation, all the excess cash wukk be distribute to its shareholder.

But for Digistar, I'm not sure whether it will declare dividend to shareholders or not. Maybe yes, and maybe no, because it need cash for its CMS project. But at the same time, Datuk also need cash, coz most of his share is under margin account.

If you really want to top up, suggest to go for mother share, don't go for WB, because the exercise price is too high, and we all not sure how long it would take for Digistar to come back to its glory times, so better don't bet.

The above is just my 2 cents, you decide you own investment.

Today share price reaction proof that Southern Steel is a very good governance company.
No insider buy before the result release.
They kept the result so private n confidentially, so that no insider can trade before result release.

Good job Kuek Family!

The Southern King is return with it glory sword!

Wow....... I feel like hitting jackpot.

But don't worry, I'm still here..

lchits, DIgistar is unpredictable.
估来估去，真系估他唔到。。。

Start to drop.. bad news from AGM?
Anyone can update here...

Anyone attend the AGM? Can help me to ask 3 question:-

1) Can the management update the latest development of the HRC Plant? Actually what is the issue and why it goes wrong? What is the solution now while pending court to decide the case?

2) Does the management consider to have bonus issue?

3) Since property market has slow down, how much it has impact SSTEEL business?

Wow... Thanks Edward.

Looking for Edward to update the latest steel price, see whether it got increase in tandem to China steel price.

Yup, agreed with onlyinvestment, if we can make money now, why need to wait 2-3 year.
Somemore the longer period it involve, the highest chance changes will happen.

For example, 3 years ago, no one will expect oil price will drop to USD30 per barrel.
3 years ago, no one expecting Bitcoin will go up to USD8000.

Why government take action against Stanlxx Thxx but not against Kxxx Yxx Yxx?
He also support DAP mah..
Somemore he always influence the share market..

Good job Charles T, you are telling the truth.

ks5S, if SSTEEL break RM4.00, you come and look for me, I belanja you nice food. Haha...

If he really go to jailed, I will ask all my fren, family member to vote DAP, this government must be change.

Waiting edward to share the latest steel price

Although ANNJOO has highest profit margin, but don't forget SSTEEL has higher inventory and higher production capacity than Annjoo..

Just look at its inventory alone, it has RM690m inventory as at 30 June 2017. These inventory market value has at least increase by 6% during Jul-Sep, so that is minimum RM40mil profit guarantee d.

So, I see there is a possible to predict SSTEEL result close with ANNJOO result.

I think ANNJOO is purposely pull down by the Call Warrant Issuer.
After Annjoo CD expiry, then ANNJOO will back to its uptrend track.

uptrending, agreed with you point.
I can't recall which company have the same scenario like this, but I knew there are few out there.

Bobby, you never learn.

VenFx, no harm here, just asking your opinion.

I know you are a big supporter for EG, but have you wondering why all semi-conductor company has been fly high but EG still at the bottom?

From the first tier player, INARI, VS, GTRONIC, SKPRES, VITROX, MPI, JHM, PENTA, KESM.... till the lousy player like JFTECH, BSLCORP... All have been move minimum 100% - 500%

There must be some reason behind, right? I believe there are a lot of investor out there are smarter than you and me, if we can see the value in EG, how come other people cannot see? Why they risk their money to chase high PE stock like Penta, JHM, why don't they switch their fund to this sleeping beauty EG.

Like myself, I hold a lot of DIGISTAR, and this counter are really sleeping for the past few years, every month it create new 52 weeks low. Since I already wet my hair, I have no choice, I just keep telling myself to believe the director, to believe the company will earn recurring income from its project, to believe the company future, to believe it will secure new project, and believe that one day the share price will rise.

P/s: I hold some EG share as well, so I really keen to know what make you believe in EG.

Last chance, no more below RM0.80.

Steel price go up, is a good news or bad news for PRESTAR? Anyone can explain?

MrPauper and Edward123, sorry I have wrongly refer to Future price instead of spot price.

China Long Steel Price start to climb up recently, from RMB3600 to RMB3800++
If China Long Steel Price can go back to RMB4000++ level, then Malaysia Steel price will go back to RM2600++