Close -7.5% with such an ugly candlestick.

Game over man, game over...

lose the bid, habis cerita. Insider selling big.

Minimum wage 1.5k has no impact on palm oil company because they already increased the wage long ago due to labour shortage and high palm oil price.

Some of them even willing to pay local malaysian because the profit margin is ridiculously high.

Revival of mrt3 project also benefit the local steel industry. Collect now while it is still cheap.

KUALA LUMPUR: Domestic steel mills are adjusting prices due to the potential increase in commodity prices, as market sources say European long steel prices are expected to rise sharply in the coming weeks.

Asteel Group managing director Datuk Sri Victor Hii Lu Thian said domestic steel millers are also factoring in risks associated with the potential increase in domestic and imported inflation, increase in oil and energy prices and potential disruption in the global supply chain.

"Domestic steel bar manufacturers have no control over the rising steel prices

which has resulted in higher building material costs.

"The rising energy prices in Malaysia also exacerbate this.

"In 2021, there was a 64 per cent increase in natural gas tariff, coupled with a hike in global freight costs. Thus, the conflict has prompted many domestic steel manufacturers to rethink the sustainability of their businesses," he told The New Straits Times.

Victor said that domestic steel manufacturers are currently experiencing an excess of inquiries, but it is important to note that steel allocation in our country is limited.

"We find that the demand in Malaysia is merely spurred by earlier purchases by industry players, such as the construction and automotive industries, so it does not impact their budgeted costs that the global price hike may impact," he said.

Steelmakers across Europe are cutting back their operations as power prices surge to record levels in response to Russia's invasion of Ukraine, Bloomberg recently reported.

Producers of the metal from Spain to Germany are beginning to slow down or entirely stop their output as the higher costs make production unsustainable, even with steel trading near record levels.

Russia's invasion of Ukraine has exacerbated already eyewatering power prices, affecting companies including Acerinox SA, Salzgitter AG and Liberty Steel, it said.

When asked on the company's contingency plan if steel prices continue to soar, Victor said Asteel is taking a more cautious approach to the potential price avalanche to manage safety stock inventory levels better.

"We take this precautionary measure due to a lesson learned from the steel price crash in the year 2008.

"Similar to any steel player, the fluctuation of steel prices impacts us as it impacts our cash flow and also our stock prices.

"We are continuously assessing the impact on our product supply chains, including

surging shipping and insurance costs. To mitigate the situation, we are looking at

the possibility of alternative supply chain vendors to overcome these barriers," he said.

Leon Fuat Bhd executive director Calvin Ooi Shang How expect domestic steel prices to rise in tandem with markets overseas as there are knock-on effects from the disruptions to the supply chain in terms of raw material and logistics cost.

When asked if the rising steel prices will be potentially pushed to consumers, he said this depends on the industry and sector.

"If steel prices continue to rise in tandem with other costs, businesses will inevitably pass through the costs to consumers," he said.

Calvin said the strategy is to sustain the business and ensure that any price hikes are gradual and do not disrupt the company's operations and customers.

"We are working closely with steel producers to secure the supply needed at competitive prices to fulfil customer requirements," he said, adding that the company will continue to monitor purchases closely, including the foreign currencies critical to global commodity prices, which in this case is the US dollar.

Victor said currently, the direct impact is still minimal, but there is always the potential for immediate risk in the long run if the conflict continues.

"We believe that most domestic steelmakers have been cushioned with raw material stockpiling and diversified

procurement for now," he said.

Victor noted that the international price trend influences the trajectory of domestic steel prices, for example, trends in China will affect Malaysia as they account for more than half of global crude steel production.

"So far, our domestic steel bar prices have been below China's market price, but this may soon change as the conflict has rattled the global commodity market with ripples spilling over to logistics and freight costs, resulting in delays and higher operational costs," he said.

tdm lost money 6 out of 8 recent quarters despite the cpo price consistencely above 3k. Now this old cun said it is ridiculously undervalue.

laugh die me...

Retail investors r funny. Y u ppl sell oil producer dnex when oil sky rocketing to usd100.

Funny, why is everyone dumping when oil hitting usd100?

War is coming, us100 oil is evitable.

Sell, ppl.

I want your tickets.

Most people do not aware that not every electronic devices need an high end amd/intel cpu chip.

What happens in dnex now is institutional funds vs operator fighting each others.

Who will win? Bull or bear?

It is a several local/foreign institutional funds but not bramal.

good bye to those who still waiting for 90cents and below.

testing rm1 again today.

u guys should look at core eps instead of just eps itself. Dont get misleaded.

oil hits 7 years high. apa lagi mau tunggu?

will 81.5c come to papa today?

Actually if u guys read the news between the line, the investment of silterra new capacity will be sourced from the capital injection of its shareholders, which in this case, it actually means dnex and cgp who own 60% and 40% of silterra.

wow huge force selling around 4pm!

Posted by Hotstuff > Jan 25, 2022 11:15 AM | Report Abuse

no holding power don buy share la...tak malu ke...

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The problem is most retailers have no holding power but buy on contra only. Hence u wait until they cut loss and take their money.

already told u guys contra leg will rush to cut loss

Now is a good time to slowly collect.

waiting for contra leg to cut loss...

see? i told u so.

Sell on news!!!

Gameover, man.

Gameover...

last chance to sell. free falling soon...

gap down on monday!

monday limit down!

free falling fast!

game over.

Habis cerita.

sell now and buy back at 90cents!

huge roadblock ahead. RUN for your life now!

profit taking tomorrow!

institutional fund started buying since 2 weeks ago.

DNEX is the only tech stock that really benefit directly from chip shortage because the ASP has sky rocketed.

Not to mention that they also benefit directly from high oil price.

huge sell queue.

Seriously no one interested?

exdate bila? :/

karim left = profitability back to pre-karim era

maybe tony will even allow u to covert all your loan into airasia point for u to purchase air tickets.

isnt it nice?

*3.75c

dont worry ppl. I am pretty sure tony will give u back 0.5% x 75c = 3.25c instead of 1c if they dont hv money to pay the interest or redeem the rcuids.

now u know y the lr plunged from 7cent till 0.5cent.

No smart money will ever loan money to a bankrupt pn17 company at just 8% interest per annum.

just in case u guys didnt know, airasia will be an officially pn17 company a week after the loan stock listed.

tp 2 next month

biy buy buu!

dyson is u-turning coming back to ata!!!

osat is also a labour intensive industry, just like ems.

wait what? Is that means kyy is begging for bail out now?

TP 50cent