Reader, the borrowing in latest audited account remains RM1.3B for Perwaja and RM1.8B for Kinsteel, which are more worrying. Yes, July-Sept will be more revealing, with Kinsteel in danger of PN17. Perwaja is done as it is already under PN17 and faced delisting if its restructuring plan due 23 Nov is not accepted.

Reader, if stocks are sold to pay creditors, please compare the amounts of creditors and borrowing between previous year and 2014....any reductions or still the same amount?

Wait lah, major shareholders feeding your poison. U will regret and remembered i tell u today.

Look at the huge selling volume! Passing over the hot potatoes ...ha ha

A matter of time only. Look at the huge selling volume! Passing over the hot potatoes.
...... ki ki ha ha

A matter of time unless huge cash injection.

Qualified audit opinion of external auditor and expressing serious doubt on it as an on going concern.

Please read latest audited account of Perwaja. Auditor has expressed "disclaimer of opinion", most serious statement. Look at the net current liabilities RM1B+, negative NTA RM1.4 per share, borrowing RM1B+, negative equity RM800m+ (completely wiped out capital and asset value). These are all public audited info. As investors, look at the facts and fundamental not get emotional.

Someone is like an ostrich burying his head under the sand.... but can understand, sudah rugi teruk!

Wintane cannot even read latest P & L and balance sheet of these companies...no wonder he said the debt of RM1B settled already!

Look at trading volume last few days of Kinsteel and Perwaja...big sharks (sellers) are slowing feeding and drawing ikan bilis (buyers) out...mark my word today, ikan bilis and small fishes will get trapped.. next week will know

Look at the trading volume for both Kinsteel and Perwaja ... big alligators (sellers) are slowing feeding and drawing small ikan bilis or small fish (buyers) out who will be surely trapped later..

Settled debt already? RM1.3 billion debt for Perwaja, RM1.9 billion debt for Kinsteel, u said it is minor! Perwaja till now no operations for 18 months already and lost RM 950 million (like MAS), and cannot or dare not even submit their audited account to Bursa, u expect limit up? Joker

Spinninglotus, u r right, Kinsteel may fall when perwaja is liquidated as kinsteel stands bank guarantor for debt of perwaja up to a huge RM768m (announced in Jan 2013 to Bursa). If it submits audited account tomorrow (there will be a disclaimer of opinion by auditor and surfacing of all the dirts and rubbish) Kinsteel will be placed under PN17 and its price will drop to a very low like 9 or10 cts. If it does not want to submit it because of of the bad comments by auditors, both counters will be suspended. Either way, t is a dead end. So friends, please decide yourself on these counters with extreme caution and wisdom.

Please check trading volume now in Bursa. A lot of sellers ready to upload their shares vs buyer volume. Tell u something....

If so good, why they do not announce it publicly Dr M is adviser, at this critical moment? Simple logic.

Not true on Dr M as adviser to Kinsteel. They are more interested in more lucrative sure win contracts of oil n gas business via Sapura Kencana. At best they may help Proton as automotive business still a bright future. Not sunset steel business dominated by Chinese. 100% supply capacity in Malaysia already, besides cheap and competitive imports!

If i were u, i will sell it before Friday. But do expect from today till Friday it may a little move up and down +- 1 or 2 cents as they are always some who want to speculate on it, regardless of its fundamentals. But looking at the development of this counter past 1 year and their financials and inability to submit audited account for 4 months (this tell u something very bad), i believe its final destiny is either suspension or delisting (i.e. zero value). U have to make your own decision. Above opinion is for reference only. Good luck.

Where is Marco CBC? So quiet. Enjoying and holiday from recent killing when this counter shot up?

Yes, shareholder fund or equity is negative, share worth zero cts too.

May be new buyers may come in to buy it very cheap BUT surely will only buy the assets only from the banks and NOT the companies which will be left to go bankrupt. So they can start it without carrying the debts. Sorry for holders of the shares (toilet paper) and all unsecured creditors. Can buy and bargain cheap only they collapse and bankrupt. Just like MAS but at least government is kind enough to absorb the shares at 20+ cents. In this case, new buyers are not government.

Businessmen from China are shrewdest and cunning ..
The steel market is bad for next few years. No stupid to invest in it as it is good money chasing after bad money. 100% they will not buy it.

Good humor, gohlai..

Day dreaming hope gov help. Proton with Dr M pressuring hard pun tak tolong. Check out who are major shareholders of kinsteel.

Hoping government to help..
Day dreaming. Firstly it is 100% private owned. Secondly it has already problems with Mas, Proton and time bomb 1Malaysia Development Berhad and many big projects like MRT, Pan Borneo Highway, etc. Thirdly, no money as Petronas needs to spend on all their big projects in Canada and Pengerang...worst are Perwaja and Kinsteel debts are very high, bigger than their assets, negative shareholder fund, etc..best way is bankruptcy!

Heard audited account cannot released after 4 mths because of a lot of shits by Tan Sri discovered by external auditors...Bursa cannot tahan also, give deadline to release the shit account by this Friday or gantung perwaja and kinsteel on Monday! When released, all rubbish surface, big troubles for him! PN 17 is very definite

Bila delisted atau suspended, tak dapat jual, 0 sen...

When delisted or suspended, 0 cent...

Simon 333, u ada banyak saham Kinsteel? Buy price?

Please Starbiz. When delisted, cannot sell and zero share value!

PN 17 is definite for Kinsteel soon. When suspended, what happen to your share? Just look at the numbers in Star today: Kinsteel debts are even higher than that of Perwaja. Kinsteel (total borrowing RM1.95B, loss RM421.5m). Perwaja (RM1.37B, loss abt RM1B, stop operation since August 2023). Worst still, in Jan 2013 Bursa announcement, Kinsteel carries corporate bank guarantee if abt RM800M. It is all public information. My view, run now and still can recover some $.

Refer today announcement to Bursa by Kinsteel and Perwaja. Cannot release audited account on 31 Oct set by Bursa. Both counters will be suspended from trading in Bursa on 10 Nov if still cannot release it this week end. Serious audit issues (disclaimer of opinions?)...be extra careful

Please read today announcement to Bursa by Perwaja and Kinsteel. Unable to release audit accounts by 31 Oct set by Bursa. Ask 14 days extension, but if cannot release by end of this week, both counters will be suspended from trading on 10 Nov. Suspect serious audit issues. Be careful!

Kena tipu kalau beli saham ini.... tunggu 3Q2014 results...... teruk teruk....

Soon income tax will go after them, was told income tax not paid since early 2013...teruk

State of Terengganu owns zero share now

SpeakUp, please check shareholding of Perwaja, government owns zero share unlike 67% in MAS.

2Q2014 results of both Perwaja and Kinsteel are published in Bursa website last Friday. Kinsteel needs to lose a further RM10 mil to trigger it being placed under PN17 (shareholder fund falls below 50% share capital). It will surely happen by 3Q2014 results. Perwaja lost record RM 921mil (1/1/2013 to 30/6/2014), negative shareholder fund RM 525m, loss per share RM 1.64, negative net asset per share RM 0.94! Kinsteel lost RM421 mil in last 18 mths is, loss per share RM 0.40, net asset per share RM 0.11, bank borrowings RM 2.0B and trade creditor RM 800m. Still want to buy or hold these shares?

2Q2014 results of both Perwaja and Kinsteel are published in Bursa website last Friday. Kinsteel needs to lose a further RM10 mil to trigger it being placed under PN17 (shareholder fund falls below 50% share capital). It will surely happen by 3Q2014 results. Perwaja lost record RM 921mil (1/1/2013 to 30/6/2014), negative shareholder fund RM 525m, loss per share RM 1.64, negative net asset per share RM 0.94! Kinsteel lost RM421 mil in last 18 mths is, loss per share RM 0.40, net asset per share RM 0.11, bank borrowings RM 2.0B and trade creditor RM 800m.

Page 18 (Berita Harian 26 Ogos), kilang Perwaja tutup satu tahun, pekerja berkumpul picketing depan kilang.
Mereka beritahu boss Tan Sri Pheng bayar kerja RM450 sebulan ke semua pekerja saja, potongan KWSP, pinjaman perumahan, income tax, dll, tidak bayar.

Sudah lari 23 cts, tak cukup cepat, untung sikit saja, alamak!

2nd most active counter, 2 million units done

Marco CBC ...... awak punya TP untuk jual?

Nothing to worry, if look at their consitent EPS, good DpS and rock solid balance sheet. 30 cts no issue a matter of short time.

Cbc is right from the beginning

I warned a few days not to get trapped....price is sliding down steadily...guess who are sharks ? Spininglotus right on the dot

U cuba telepon kilang atsu hantar email ke syarikat.. fixed phone line sudah potong lama, tak bayarhutang.

Jangan percaya...jangan kena trapped. Just wait n see true or not.

Cbc, why so abusive?

Spinninglotus, cerdik betul.