so fun seeing the old folks fighting like kid. :-D

negative goodwill or known as bargain purchase has to be declared because it is taxable. If it is something to be ignored, why the management bother to declare it since they have to pay extra tax.

Eat all.

Damn. How can I forgot North Sabah asset opex is halved Anasuria's.

Labuan Oil is always sell at premium price, against brent oil. Production is double of Anasuria. Not to mention their uptime rate is almost consistently 90%. These details is bullish imo.

North Sabah asset details.

Public research already highlight this since April. The uncertainty is when they are going to realize it.

I believe oil and gas opex cycle already bottomed last year. Moving forward there will be more contracts to be awarded. After considering the cost optimization, today brent oil price of 70$ is equivalent to last time 85$. Picked from Datum Cheah insight on oil and gas industry. This is a turnaround play. Be patient.

Simply a correction from recent rally, why worry so much. Only fell like 10% compared with other oil and gas counters.

same pattern seen in penta at RM2.82, padini at RM3.91. See how much is their shares now.

https://drive.google.com/open?id=0BzSG72FyGy_XMFJXZlVxU3FlUm8

one question, why doesn't it replenish its inventory but keep the cash?

出手里的票是肯定的啦，出了才有cash操盘～rm3.8~rm3.9的阻力力已经弱了许多。要把股价拉高一定要在阻力弱的时候。

https://klse.i3investor.com/blogs/kenangaresearch/134472.jsp

TP raised to RM4.7?

Ann joo is very different from other steel mills because its storage capacity is highest although its production capacity is lower.

SSteel
Bangladesh, Brunei, Hong Kong, Indonesia, Japan, Philippines, Singapore, Taiwan, Thailand, Vietnam, USA, Canada, Papua New Guinea
4%

Wholly-owned subsidiary of Ann Joo Resources Berhad
Indonesia, Vietnam, Australia, Papua New Guinea
2.5%

Better don't buy so much warrant, I find it hard to sell last time.

Blast furnace only start its operation in oct 2011. Its full potential yet to be seen. Note that scrap metal has reached around 370~390usd while iron ore still hovering around 75usd. It would be really interesting to see 4th quarter result as 3rd quarter result can be predicted fairly easily.

You can check back HLIB research report on AnnJoo back in 2010 to 2012 to understand more about the company.

If you check back AnnJoo history, AnnJoo always have aggressive procurement strategy for raw material, which mean they will keep producing steel products so that they will first to benefit when there is any upswing in steel price. However, the downside of this strategy is that when steel price is falling, they will suffer heavy inventory write down.

Just look at last quarter is good enough. Even though profit is substantially lower when compared with last quarter, they can still make quite good profit. However, ssteel and lionind are just at the borderline of making profit or loss.

https://research.uobkayhian.com/content_download.jsp?id=41347&h=10489e28509965bdbb4234b23d3dbea4

https://www2912mqcapitalhome.wordpress.com/2017/09/04/ann-joo-has-locked-in-its-electrode-requirement-for-2018-at-below-market-prices/

https://www2912mqcapitalhome.wordpress.com/2017/09/04/ann-joo-has-locked-in-its-electrode-requirement-for-2018-at-below-market-prices/

Bankers~ Try to think is there any bad news coming for Jtiasa? I guess almost all bad news have been priced in.

This is the first time they have positive free cash flow.

FY17+ve 35mil
FY16-ve 63mil
FY15-ve 62mil

Downsizing wood production activities is the right and a must strategy for the group to achieve significant profit in the coming years.

Palm oil sector profit is lesser due to cost of higher dosage of fertilizer as more palm oil tree are matured. Last year they recognize this cost during Q3 . This time they recognize in during Q4 with impairment loss together which make the result even worse.

No worry la, still got room to rise, just lower PE.

No need to sell though, but like what you say, market will give it lower PE.

They are not good in managing cost. Some more facing strong competitor AnnJoo in northern area.

Guys, choose the most cost efficient company. (y)

https://www.platts.com/latest-news/metals/london/graphite-electrode-shortage-could-impact-steelmaking-21582232

No people hold call warrants to convert back to cash. Bank issues this type of warrants just for trading. And you are not betting with bankers. You are trading with the public.

"oil price has been sliding all the way down to USD 45 per barrel". This is mostly due to the unstoppable expansion of US shale oil operation.

Share price roseis 50% in a month time and you guys expect no correaction at all?

Kenanga further explain the importance of inventory level. Check out their analysis.

I will call it reaccumulation. Haha

So sad, try harder next time. Lol

Thank you solaris80 for that information. Hopefully there would be some cheap sale before the AGM. (y)

why do they need to sell their factory if their balance sheet is so healthy??? Did you miss out account payable?

This bad news will definitely squeeze out all the stock supply.

Well, after more than 10% correction last time, it should be easier for the price to climb up to rm3.5.

Shares in the open market is getting less and less.

Good result!!

How much scrap steel price can fall? Did you forget about lionind, master?

That's a very good number.

Waiting for it.

FYI, only AnnJoo utilizes Blast Furnace which uses iron ore as its raw material. Others are using Electric Arc Furnace which uses scrap metals only as its raw material.

Okay guys, timeout. See you again in next few months. Hereby, I shall express my appreciation towards leoting hard research. That's really help alot.
Thank you.

AnnJoo was always a roller coaster ride if you notice.