http://www.enanyang.my/news/20190113/美元下跌激励金价/

http://www.enanyang.my/news/20190113/美元下跌激励金价/

https://www.pocketimes.my/智库：政府不可直接干预房市/
from 1:59

http://www.chinapress.com.my/20190111/黄金价或创5年新高-每安士料升至1425美元/

Hi ttsttay, can add me into ur email list: sharkeatapple@gmail.com? TQVM.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5166653
Type of Meeting: Extraordinary General Meeting
Description: Proposed disposal by Bright Steel Service Centre Sdn Bhd, a wholly-owned subsidiary of Lion Corporation Berhad, of property and assets to Axis Development Sdn Bhd for a total cash consideration of RM64 million
Date of Meeting: 19 Aug 2016
Time: 10:00 AM
Venue: Meeting Hall, Level 16, Lion Office Tower, No. 1 Jalan Nagasari, 50200 Kuala Lumpur

http://www.theedgemarkets.com/my/article/‘steel-king’-hand-over-reins-china-partner

KUALA LUMPUR: Tan Sri William Cheng will take a back seat in the business that earned him the moniker “Steel King of Malaysia” once an agreement with a strategic partner in China is finalised as part of an ongoing group-wide restructuring at Megasteel Sdn Bhd that still requires creditors’ buy-in.

“We’re looking at a 50:50 partnership, hopefully in two to three months [a deal] can be finalised,” Cheng, Lion Group’s largest shareholder replied when asked about the status of Megasteel’s proposed restructuring plan.

“We (Lion Group) will have a 50% stake but we will let them manage [the new enlarged steel business entity], and perhaps only deal with local sales and dealings with the [local] government,” Cheng added, but declined to name the partner as talks were still ongoing and an agreement had yet been sealed.

The intended Chinese partner is among the “top three ball bearing makers in China” that is able to contribute some RM2 billion worth of equipment to the partnership, according to a source familiar with the restructuring exercise.

China’s largest bearing manufacturers include Wafangdian (ZWZ), Luoyang (LYC), Harbin (HRB), Zhejiang Tianma (TMB), Wanxiang Qianchao, and C&U, according to data on the website of SKF, the world’s largest bearing maker that also has production plants in China. There is no official confirmation if the potential partner is among these players.

This is not the first time Lion Group is speaking to a Chinese partner and that a deal could well still fall through, but said negotiators and number crunchers are hard at work in China and back home. As far back as 2011, it was reported that Baosteel Group, China’s second-largest steel manufacturer, was considering a tie-up with Lion Group, but a deal had yet to materialise.

Faced with industry-wide overcapacity and slower growth, Baosteel and smaller rival Wuhan Iron and Steel Group are said to be looking to merge in order to bolster their position and unseat market leader Hebei Iron and Steel Group, the South China Morning Post reported on Monday.

On May 23, The Edge weekly, citing court documents, reported that Lion Group’s insolvent flat steel maker Megasteel had proposed to build a new blast furnace — estimated to require some RM1.13 billion investment — as part of its corporate restructuring and debt settlement plan. The blast furnace is to help Megasteel’s hot-rolled coil (HRC) producing business viable by reducing production cost.

The documents made no apparent mention of a foreign party taking a stake in the restructured entity. There were also no details of the shareholding structure, specifically what Cheng’s or Lion Group’s equity stake would eventually be post restructuring.

Megasteel, which started business in 1999 as the only HRC producer in Malaysia with a RM3.2 billion integrated steel mill in Banting, Selangor, had racked up RM2.43 billion in accumulated losses as at Dec 31 last year. This was despite the benefit of a 25% import duty the government imposed on HRC, a rate which was raised to 50% in 2002. Megasteel has thus far gone through four debt restructurings, the latest of which was in 2014, when it only had consent from two of its seven US dollar term loan creditors.

As at Dec 31 last year, Megasteel — which is 21% held by Lion Diversified Bhd, and the rest by Lion Corp and Cheng’s Limpahjaya — owed RM895.7 million to secured creditors, while unsecured creditors and suppliers were owed RM3.28 billion.

In the court papers on the proposed restructuring, Cheng admitted that Megasteel’s business is not viable in its current state without government protection. It remains to be seen if a white knight will finally give closure to the long-drawn restructuring.

"An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return. Operations not meeting these requirements are speculative." - Benjamin Graham

LIONCOR fall into PN17 since OCT-13. Hopefully Regularisation Plan out and implemented before end of July.

You are welcome. Sharing is caring. :)
For more info, u can refer to theedge hardcopy dated 16-MAY-16.
Page refer above.
Let's hope for the miracle to happen.

Margin squeeze in this case means impose higher selling price for HRC and lower the selling price for CRC. [CRC is produced from HRC]

investor99, megasteel did produce CRC besides HRC.
The capacity is:
HRC: 3.2million tonnes/year,
CRC: 1.45million tonnes/year.
RM3.2billion was invested in Megasteel.
You can get more coverage on Megasteel in recent "TheEdge", Page 21 & 65.

Because Megasteel (temporary ceased operation now) produced both HRC and CRC . Thats why "margin squeeze" was investigated by MyCC case.
refer to: http://www.bursamalaysia.com/market/listed-companies/company-announcements/5060185
OTHERS LION CORPORATION BERHAD ("LCB" or the "COMPANY") PROPOSED DECISION ON MEGASTEEL SDN BHD, A 79% OWNED SUBSIDIARY OF THE COMPANY, ISSUED BY MALAYSIA COMPETITION COMMISSION

We refer to the announcement of the Company dated 1 November 2013 wherein it was announced that the Malaysia Competition Commission (“MyCC”) issued its proposed decision in which MyCC is of the view that Megasteel Sdn Bhd (“Megasteel”) has breached the provision of section 10(1) of the Competition Act, 2010 in that Megasteel has abused its dominant position by charging or imposing a price for its hot rolled coil that amounts to a margin squeeze that produces anti-competitive effects in the cold rolled coil market (“Proposed Decision”). Under the Proposed Decision, a financial penalty of RM4,500,000.00 is to be imposed by MyCC on Megasteel.

The Board of Directors is pleased to announce that pursuant to a notice of finding of non-infringement from MyCC dated 15 April 2016, MyCC had determined that there is no infringement by Megasteel of section 10(1) of the Competition Act, 2010 as stipulated in the Proposed Decision. In arriving at the non-infringement finding, MyCC had concluded that Megasteel did not abuse its dominant position nor practice margin squeeze in the relevant domestic markets. The above final decision was made after careful reassessment of the case with more detailed information obtained through written and oral representations submitted by Megasteel as well as further analysis made by MyCC.

http://finance.ifeng.com/a/20160518/14391352_0.shtml
美国重击中国钢铁商：提高冷轧钢进口税率高达522%

企业达人：锺廷森点石成金 奠定金狮钢铁王国 (http://www.nanyang.com/node/641286)

在钢铁行业打下坚实基础后，锺廷森开始涉及其它行业。

1981年开始进入房地产领域；1983年进入种植业，种植可可和棕榈树等；1985年进入百货业开设百盛；1987年进入汽车和摩多业；1989年进入轮胎、集装箱行业；1993年进入海绵铁行业；1995年进入纸浆业。

重组高手 扭转乾坤

1986年开始，马来西亚经济出现不景气，很多企业处于倒闭状态，他利用钢铁生意中赚到的雄厚资金，不断收购、合并许多倒闭和经营不善的公司。

他认为在经济肃条时做出投资，表面看来风险很大，但经济一旦好转时，价值就会高出好几倍，竞争自然更激烈。

当时吉隆坡有两间百货公司经营不善，他准备接过来，就此进军百货市场。

逆势进军零售业

行家却说不到三个月就会关门大吉，因为当时百货业陷入财务困境，许多超级百货商场纷纷倒闭，连大马最大的超市集团英保良及在中马地区广受欢迎的友谊商店也不能幸免。可是锺廷森选择这个时候进军百货零售业。

他凭着准确的生意眼光，正确的判断力和胆量，以5000万令吉投资百货市场行业，1987年创办百盛超级市场集团，在马来西亚各大城镇重新开设了4家百盛超级市场和25家百盛商店。

服务业对他来说是一个全新的领域，他摸索了一年半，终于使商场转亏为盈。

1987年，两家代理日本铃木摩托车及铃木汽车公司经营不景气，锺廷森果断低价买下，重新制定销售策略，半年后转亏为盈。

1995年，政府一家海绵铁厂连年亏本，他以7500万令吉买进，一年就转亏为盈。

接着他又买下柔佛南部的钢铁厂，接手后仅用9个月就赚钱。

他亦买下沙巴亏本的纸浆造纸厂，进行改造，一年后即盈利。

每次接手一家亏损企业，他都会请专家分析亏损症状，寻找解决方案，“一般来说，设备没问题，主要是在人事管理上，只要找到症结，就能改变局面。”

结合美日式管理

因为神奇地使多家亏损企业赚钱，锺廷森被誉为拥有“点石成金”的本领。

这些成功与锺廷森胆大心细，具有敏锐生意眼光的商业策略家风范分不开。

Hope for miracle to happen.... with TSWC's restructuring experiences...

Although chance is tiny, sometimes miracle does happen.

http://cn.mobile.reuters.com/article/idCNKCS0Y60XI?irpc=932
G7将采取措施解决全球钢铁过剩问题--草案
2016年 5月 16日 星期一 07:42 BJT

路透东京5月14日 - 据路透获得的一份草案，七国集团(G7)将采取措施解决全球钢铁过剩问题，很多人将这个问题归咎于中国钢厂产能过剩。

若本月稍晚在日本召开的G7峰会采纳，将使中国采取措施的压力加剧。中国占全球钢铁生产的半壁江山，今年稍早时产量甚至达到纪录高位。钢铁产量过剩导致澳洲及英国等国家的钢厂面临倒闭。

“我们意识到全球行业产能过剩对经济、贸易和工人的负面影响，尤其是钢铁行业，”草案称。

“我们致力于迅速采取措施，通过加强市场作用来解决这些问题，包括以协同行动找出并去除补贴和支持，并鼓励进行调整。”

G7领导人将在5月26-27日在日本伊势志摩召开峰会。

法国和德国周五呼吁欧盟其它成员国加强贸易保护，避免廉价进口商品的大量涌入损害当地企业，其中包括来自中国的钢铁产品。

一位消息人士说，一些欧洲国家反对G7草稿文本中的措辞，因为担心会招致中国的报复。

让人忧心的并不只有中国，日本也威胁要针对印度在世贸组织采取行动，之前印度给进口钢铁设定了最低价格。日本和韩国也因为出口钢铁产品价格低于国内而受到批评。

“我们特别担心由政府和政府支持机构提供的补贴以及其它帮助，这些问题扭曲了市场，加剧全球产能过剩，其中包括那些用于帮助在海外扩大产能的支持，”G7草案文本称。(完)

(编译 王丽鑫/郑茵 审校 李婷仪/许娜)

欧盟查中国钢铁非法补贴/
http://www.enanyang.my/?p=584781

By now, sure no investor willing to join in because currently local steel prod cost is higher than dumping price mainly from china. IF protection measure is implemented which will make the imported price higher than local prod cost, then only got chance the investor will join.

Investor99, you are right. Now the only thing is government support. Once it is implemented (if there is), new investor will join in.

Investor99, it can be considered good news partially.
But dont forget, megasteel still need favourable policy from gov finally.
Now both parties under "diff side" in the court (not just diff opinion).
Hmm. Dont knw how this will goes?
Just my 愚见。
What do u think, investor99?

http://www.nanyang.com/node/760726?tid=460
贸工部停止进口热轧钢卷 美佳钢铁获准令推翻决定

（吉隆坡10日讯）美佳钢铁（Megasteel）私人有限公司今天获得高庭发出准令，挑战国际贸易及工业部今年1月宣布，结束进口“热轧钢卷（HotRolled Coil）”到我国的调查决定。
高庭法官拿督哈妮芭在内庭批准美佳钢铁公司的司法检讨要求，择定案件于本月17日过堂。
美佳钢铁是于今年4月4日入禀申请，把国际贸易及工业部长拿督斯里慕斯达法及贸工部，列为第一及第二答辩方。
该公司要求法庭发出庭令，推翻慕斯达法今年1月6日宣布，停止进口“热轧钢卷”到我国造成负面影响的决定。

Announcement on 2 OCT 2015:
The Company will continue to engage with potential investor(s) with a view to considering investment in Megasteel and in this respect, discussions have been initiated with a party from Northeast Asia and it is still on-going

潛在= potential (uncertain / not confirm)

http://www.theedgemarkets.com/my/article/megasteel-gets-restraining-order-against-creditors

Lion Corp said the banker's acceptance default will give rise to a default by virtue of the cross default provision under principal loan documents relating to a RM21 million term loan facility agreement, RM683 million worth of syndicated term loan facilities agreements, RM119.5 million worth of bilateral working capital facility agreements and RM2.2 billion worth of ringgit-denominated bonds, US dollar-denominated debts, as well as redeemable convertible secured loan stocks issued by Lion Corp.

Lion Corp had said upon default, the respective lenders will have the right to declare the cancellation of the banking facilities and all sums outstanding under the respective loan documents shall become due and payable immediately.

http://www.linklaters.com/Insights/Publication2051Newsletter/20100118/Pages/Creditorschemes.aspx

现在是。希望接下来咸鱼翻生。

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5085929

The Board of Directors of the Company wishes to announce that Megasteel Sdn Bhd (“Megasteel”), a 79%-owned subsidiary of the Company, has been informed by its solicitors that the High Court of Malaya in Kuala Lumpur (“High Court”) has on 5 May 2016 granted Megasteel the following:

(a) an order (“Order”) pursuant to section 176(1) of the Act that separate meetings (“Scheme Meetings”) of the creditors of Megasteel or any class of them (“Scheme Creditors”) be summoned within a period of ninety (90) days effective from 5 May 2016 for the purposes of considering and, if thought fit, approving with or without modification, the schemes of arrangement and compromise proposed between Megasteel and the Scheme Creditors (collectively “Schemes of Arrangement”); and

(b) a restraining order (“RO”) pursuant to Section 176(10) of the Act whereby all proceedings and/or further proceedings in any action or proceeding against Megasteel and/or LCB and/or their assets (wherever located, and whether held by Megasteel or any trustee in whole or in part, directly or indirectly, as principal or as agent, beneficially or otherwise), be and is hereby forthwith restrained and stayed except by leave of the High Court, for a period of ninety (90) days effective from 5 May 2016.

The RO was applied for in order to allow Megasteel to have sufficient time to formalise the Schemes of Arrangement for the approval of the Scheme Creditors. Megasteel is currently working with its adviser on the Schemes of Arrangement and the details of the Schemes of Arrangement will be announced in due course.

The RO is not expected to have a material impact on the financial and operational matters of the LCB Group.

If no Regularisation Plan submitted before dateline. The only consequence is: it will be suspended and delisted. In my opinion, repeating requests for extension while working on Regularisation Plan is the only way.
From previous news, we knew that a lot of discussion (involved more than 10 parties) had been initiated and is still on going. But without gov shield, nobody is willing to inject fresh fund. So, still depends on gov's policy finally. Saving Megasteel is not easy and tswc is putting effort into this.

The announcement says the request for extension to 31.07.16 has been granted.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5084561
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5084689
04 MAY 2016

The Board of Directors of the Company wishes to announce that Bursa Securities had vide its letter dated 27 April 2016 ("Bursa Letter"), which was received by the Company on 3 May 2016, granted the Company an extension of time up to 31 July 2016 to submit the Regularisation Plan to the regulatory authorities.

The Bursa Letter also stated that Bursa Securities' decision is without prejudice to its right to proceed to suspend the trading of the securities of the Company and to de-list the Company in the event:

(i) the Company fails to submit the Regularisation Plan to the regulatory authorities on or before 31 July 2016;

(ii) the Company fails to obtain the approval from any of the regulatory authorities necessary for the implementation of its Regularisation Plan; or

(iii) the Company fails to implement its Regularisation Plan within the time frame or extended time frames stipulated by Bursa Securities.

Upon occurrence of any of the events set out in (i) and (iii) above, Bursa Securities shall suspend the trading of the listed securities of the Company upon the expiry of five (5) market days from the date the Company is notified by Bursa Securities and de-list the Company, subject to the Company's right to appeal against the delisting.

“That is my private business. It is for my family and has nothing to do with my public listed business,” he stressed, adding that he feels safe to conserve more cash amid current challenging economic conditions.

“We may consider buying it back in the future,” he said, but did not elaborate.

http://www.theedgemarkets.com/my/article/‘no-white-knight-coming-megasteel-without-govt’s-shield’

KUALA LUMPUR: As Megasteel Sdn Bhd, the country’s biggest hot-rolled coil (HRCs) producer and Lion Corp Bhd’s 79%-owned unit, sinks further into losses year after year, and is up to its ears in debt, some may get the impression that Tan Sri William Cheng was not doing anything or not doing enough to solve the problems of the steel unit.

But Cheng, the Lion Corp chairman and managing director, told The Edge Financial Daily in a recent interview that the only way to save the beleaguered steel entity is to invite an investor to inject new funds into the company.

And so, he has been talking with over 10 foreign parties in Asia alone — mainly from India, Japan, Korea and China — to find a white knight to help solve Megasteel’s woes.

However, most of the talks have remained just that: talks — as the numbers in the country’s steel industry just cannot convince them that their coming in will gain them any competitive advantage, said Cheng.

“We are still talking with some foreign parties. The fact is, if the Malaysian government does not protect the steel industry, foreigners will not be willing to invest in an industry that is not profitable when the steel manufacturing costs here are higher than China, amid an influx of cheap Chinese steel imports,” Cheng said.

If not for that, he said the potential investors have no problem in entering the Malaysian steel market, which is reminiscent of what he said since 2013.

“They also have positive feedback about us as we have good facilities and cost structure. The problem is just that we are losing competitiveness against China when the government refuses to offer protection,” he reiterated.

He also noted that Malaysia’s steel manufacturing costs used to be one of the lowest in the Southeast Asian region. But today, hikes in electricity and gas tariffs have increased steel production costs in Malaysia.

Due to rising production costs, he indicated that the group is now using furnace or coal to produce steel. Hopefully, this can lower production costs, he said.

But no matter what’s said and done, he insisted that government protection remains the only way to stop steel makers from bleeding further.

In many countries, he said, citing the United States, India, Indonesia, Thailand, and some in Europe, governments still impose protection measures to support the steel industry.

“Steel makers have experienced a downturn for six years now. Indeed, even Chinese steel makers are also making losses and need to sustain the business via side incomes,” he said.

On what has the government’s feedback been to the industry, he said, the government does not think the group “is injured”. “I don’t understand. We are making more than a billion losses a year, and we can’t even capture a market share of 10% or 20,000 tonnes of steel per month,” Cheng highlighted.

He also dismissed speculation that Megasteel, which had suffered RM1.24 billion in losses in the three years between 2012 and 2014 due to excessive cheap imports from China, benefits from a respectable margin.

Lion Corp, which slipped into Practice Note 17 status in November 2013, saw its accumulated net losses for the half year ended Dec 31, 2015 (1HFY16) widen to RM294.03 million, compared with RM209.24 million in the previous year. The group’s revenue for the period also halved to RM524.93 million, from RM1.08 billion a year ago.

The group attributed its poor financial performance to lower selling price and sales volume, coupled with the onslaught of steel imports at dumping prices. The performance was further dampened by a foreign exchange loss of RM59 million, as a result of the weakening of the ringgit against the US dollar.

Lion Corp, used to trade for as much as RM37.30 (April 22, 1996), is worth only 4.5 sen today, with a market capitalisation of RM59.23 million. It hit its record low of three sen on July 14, 2015.

Cheng, however, expects the group’s net losses this year to improve a bit following the recent steel price rally. “Overall, the steel market sentiment will be better this year as some products will provide us better margins,” Cheng added. As for recent reports about him disposing of his land, Cheng explained that the “cash out” has nothing to do with his steel business.

It was reported by The Edge weekly in November and December last year, citing sources, that Cheng seemed to be on an asset divestment trail as he disposed of a 296-acre (120ha) land in Bandar Mahkota Banting, and is also looking for a buyer for his Tiara Melaka Golf & Country Club, a 27-hole golf course and clubhouse that sits on some 336 acres of land in Mukim Bukit Katil.

Looking forward to seeing government's next steps.

http://www.theedgemarkets.com/my/article/loss-making-megasteel-cuts-workforce-half

KUALA LUMPUR: Hit hard by low prices and dumping by foreign producers, troubled steel manufacturer Megasteel Sdn Bhd has resorted to reducing its workforce by half.

The country’s largest hot-rolled coil producer said it has since January laid off 487 workers (including 99 foreigners) and retrenched 102 from its total workforce of 1,148.

“The company has organised several town-hall sessions with its employees to brief and engage them on the business challenges and the unavoidable decision to lay off and retrench employees.

“It is also providing support and training for the employees to seek alternate employment,” Megasteel said in a statement to The Edge Financial Daily yesterday.

The company said it has sought the assistance of the Labour Department and other companies for job placements of its employees.

“It is noted that the overall job market is not so encouraging at the moment with other industries also affected by poor sales and low production levels,” it added.

Megasteel, a 79%-owned subsidiary of the Lion Corp Bhd, has been bleeding red since 2011. Its revenue for financial year ended June 30, 2015 (FY15) was RM1.89 billion with a loss before tax of RM595 million. Its accumulated losses as at FY15 were RM2.4 billion.

It attributed the losses to the dumping of steel products in the domestic market by foreign steel producers, as well as the global steel glut and drop in steel prices.

Megasteel said its production is currently nil. Its output in 2015 was 613,000 tonnes, a drop of 53.6% compared with the 2011 production of 1.32 million tonnes.

Megasteel’s workers’ union president Mohd Amir Rapini said the laid-off employees are being paid half their basic salary since January.

They were told to be on standby to resume duties but to date there is no indication that they would get to go back to work.

In light of this, about 350 workers picketed at the Megasteeel factory in Banting yesterday, seeking compensation as provided for under their collective agreement.

Alternatively, the workers are demanding that they be paid a monthly lay-off payment of more than 50% of their basic salary, or be allowed to take up other jobs, while remaining entitled to the lay-off benefits.

A Megasteel official who met the workers promised to respond to their demand by April 30, said Mohd Amir.

Megasteel said the government is aware of the developments affecting the steel industry.

“We have provided information on the lay-off and retrenchment of our employees to the ministry of international trade and industry and Malaysian Investment Development Authority as requested.

“Megasteel urges the government to assist the local steel industry and the employees, whose jobs are at stake, by taking the necessary urgent action to curb dumping and dubious imports of steel products,” it said.

Hi volumn with price up is good sign. Haha.

Investor99, that's what exactly i m trying to say: not easy yo come out the plan (when/will it be?).
Hopefully goverment can lend a helping hand.
By doing so can save a lot of jobs too.
One way i guess is government take some stake in and implement spv.
Hahaha...

Yes, but when is/will it be Regularisation Plan will be announced?

http://www.thestar.com.my/news/nation/2016/04/18/megasteel-workers-were-briefed-on-business-challenges/

KUALA LUMPUR (April 18): About 350 workers of Megasteel Sdn Bhd, who have been laid off temporarily, picketed in front of the company's factory in Banting today, demanding proper compensation or better lay-off benefits.

Mohd Amir Rapini, president of the Megasteel workers union, said Lion Corp Bhd senior manager for industrial relations Vasu Palaisamy met the workers and promised to respond to their requests by April 30.

"We have met with Vasu and he [takes] note [of] our requests and said he would discuss with [Lion Group Executive Chairman Tan Sri] William Cheng, and there will be a decision on April 30.

"If we are unhappy with the decision, we will picket again on May 9," Amir told theedgemarkets.com.

Megasteel is a 79%-owned subsidiary of Lion Corp.

Amir said the workers have put forward three options to the company, including the payment of compensation based on the years of service, according to the collective agreement with the union.

Secondly, he said, the company can choose to pay the workers more than 50% of their salary, or at least RM900, a month.

The third option is for the workers to be allowed to work for other factories but remain entitled to the lay-off payment.

Amir said about 600 workers have been temporary laid off since Jan 1 and have been receiving half month salaries since then. Their full salary ranged from RM1,000 to RM1,800.

He said the workers, armed with placards that read "Tan Sri Willian Cheng, we want compensation, we reject lay-off", had gathered in front of the factory at about 9.30am.

This is the second picket by the affected workers, following one on April 11 when the union was unsuccessful in meeting the management to discuss the compensation.

Amir added that the company has promised to take them back to work if the factory is up and running again.

However, the management did not indicate how long the lay-off will last and their livelihood is severely affected, he said.

Megasteel, Malaysia's largest hot-rolled coil producer, has suffered RM1.24 billion in losses for the three-year period from 2012 to 2014 due to excessive cheap imports from China.

Megasteel submitted a petition to the Ministry of International Trade and Industry on the matter in July 2015. It argued that the excessive imports have greatly reduced its local orders and its production level.

However, on Jan 8 this year, the ministry terminated its investigation as it found that the increase in imports of the product in 2014 was deemed not significant and has not caused, and is not threatening to cause, serious injury to the domestic industry.

Can be considered as little good news. At least: "Megasteel did not abuse its dominant position nor practice margin squeeze in the relevant domestic markets."
But still pending for its regularisation plan.
Need to clear the "road block".
Once road block is cleared (only if), the price will move like other steel counters.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5060185
OTHERS LION CORPORATION BERHAD ("LCB" or the "COMPANY") PROPOSED DECISION ON MEGASTEEL SDN BHD, A 79% OWNED SUBSIDIARY OF THE COMPANY, ISSUED BY MALAYSIA COMPETITION COMMISSION

We refer to the announcement of the Company dated 1 November 2013 wherein it was announced that the Malaysia Competition Commission (“MyCC”) issued its proposed decision in which MyCC is of the view that Megasteel Sdn Bhd (“Megasteel”) has breached the provision of section 10(1) of the Competition Act, 2010 in that Megasteel has abused its dominant position by charging or imposing a price for its hot rolled coil that amounts to a margin squeeze that produces anti-competitive effects in the cold rolled coil market (“Proposed Decision”). Under the Proposed Decision, a financial penalty of RM4,500,000.00 is to be imposed by MyCC on Megasteel.

The Board of Directors is pleased to announce that pursuant to a notice of finding of non-infringement from MyCC dated 15 April 2016, MyCC had determined that there is no infringement by Megasteel of section 10(1) of the Competition Act, 2010 as stipulated in the Proposed Decision. In arriving at the non-infringement finding, MyCC had concluded that Megasteel did not abuse its dominant position nor practice margin squeeze in the relevant domestic markets. The above final decision was made after careful reassessment of the case with more detailed information obtained through written and oral representations submitted by Megasteel as well as further analysis made by MyCC.

Correct. You are right.
Good or bad also can goreng, depends on buaya.
But company without financial issue is easier to goreng.
Can attract more buyer.
If good news (clear the worry)announced, this counter will move.

If the worry on Megasteel is not cleared. Hardly goreng.

https://www.malaysiakini.com/news/337382#ixzz45YEwGxKN
'Help us, Najib' placards flashed at steel workers’ picket

It was supposed to be a typical workday at Megasteel Sdn Bhd in Banting – the warm morning breeze intermingled with the regular clanking of hot rolled coils being produced from its steel mill.

The rhythm, however, was interrupted when a group of laid-off employees appeared and picketed in front of Megasteel’s gleaming office today.

The picketers carried placards with messages such as “We don’t want to be laid off”, “We want compensation”, “Megasteel is being cruel” and even a “Please help us, Prime Minister Najib”.

Also present at the scene was Metal Industry Employees’ Union (MIEU) president Samsudin Usop, whose organisation has represented 10,000 workers in metal products manufacturing factories since 1963 (according to its Facebook page).

“We (the picketers) are here to voice our displeasure at Megasteel’s actions of having laid off about 600 employees since January this year,” claimed Samsudin.

“With their average salaries suffering a 50 percent reduction from RM1,800 monthly to RM900 per month, how will these workers manage their life commitments like paying for their car or motorcycle loans, home rents, and children’s education expenses?”

“They (Megasteel Sdn Bhd) have also not informed us on how long this layoff period will last,” he added.

“So, we tried to schedule a meeting with Megasteel executives today, but unfortunately, the discussion did not take place as they (Megasteel) requested that only two of us (among the affected employees and picketers) can be present at the meeting,” he claimed, adding that the picket’s committee comprises six members.

When queried about the “Please help us, Prime Minister Najib” placard, Samsudin clarified that the picketers expressed hope that Prime Minister Najib Abdul Razak can aid the laid-off workers in returning to full employment.

“We hope the prime minister will help us by taking action against the rising imports of foreign hot rolled coils, which are imported at a cheaper price compared to local productions.

“When this (rising cheap foreign import) problem is solved, Megasteel can increase its revenues once more, and thus, help the workers in regaining full employment,” Samsudin said.

Megasteel’s side of the story

Malaysiakini has also contacted the Lion Corp subsidiary company, Megasteel Sdn Bhd, for its side of the saga.

Vasu Palanisamy, the senior manager group industrial relations and employee relations (IRER), claimed that because of Megasteel’s affected revenues, it implemented a layoff exercise among its employees from January 2016 onwards.

“A total of 486 employees had been laid off since January 2016,” Vasu claimed.

“For the moment, it’s unnecessary for our affected employees to report to work. They are on a work standby list, where we will contact them when their skills are required at work.

“Despite temporarily receiving a 50 percent cut in salary during their layoff period, these workers still enjoy employment perks like their medical treatments, which are paid for by Megasteel,” Vasu added.

Asked if any action will be taken against the picketers, Vasu said “No”.

“Nobody (involved in the picketing) will be reprimanded, for it was a peaceful gathering and we also understand their concerns with coping with the current cost of living.

“We still want to maintain a good working relationship with the (MIEU) union. (MIEU) is cooperative in the sense that we can still hold discussions to resolve this matter,” added Vasu.

Hope for the future

Vasu also said the affected employees will be at the top of Megasteel’s full-employment hiring list – with first-choice employment opportunities – when the company’s revenues and production rates recover.

“In addition, the Lion Corp training arm, CEDR (Corporate Consulting Sdn Bhd), has also been conducting free training sessions for the affected employees, with each session lasting a few weeks.

“The CEDR trainers help our employees by providing motivational talks, improving their CVs, prep them for interviews and invite potential employers who are seeking to hire new employees,” Vasu added.

So, what’s next for Megasteel and its disenchanted employees?

“We will schedule a meeting with the MIEU and picketers in the next few days,” Vasu said.

http://www.sinarharian.com.my/edisi/selangor-kl/pemberhentian-pekerja-syarikat-harap-keajaiban-berlaku-1.508432
11 APRIL 2016

BANTING - Pengurus Kanan Perhubungan Pekerja Lion Group, syarikat induk Megasteel, P.Vasu berharap berlaku keajaiban dalam industri keluli tempatan dan pulih kembali.

Menurutnya, Megasteel Sdn Bhd adalah salah satu mangsa kejatuhan industri keluli tempatan akibat penurunan ringgit dan kegiatan lambakan keluli dari China.

"Pengeluar tempatan kini berdepan persaingan sengit ekoran harga keluli dari China yang rendah dan peningkatan kos operasi.

"Lebih membimbangkan kami pengeluar keluli tempatan paling terjejas teruk dengan aktiviti import lambakan keluli dengan harga murah sejak beberapa tahun lalu," katanya dalam Sidang Media di Megasteel Sdn Bhd, hari ini.

Beliau berkata demikian sebagai respons kepada tindakan pihak syarikat terpaksa memberhentikan sementara lebih 400 pekerja.

Vasu menambah, pada waktu ini, kapasiti pengeluarannya hanya digunakan 20 ke 30 peratus sahaja.

Katanya lagi, ekoran itu, keadaan itu turut menyaksikan kerugian RM2 bilion pada 2014 dan paras terkini pinjaman banknya melebihi RM12 bilion.

"Kami sebenarnya sedih bila terpaksa putuskan buat pemberhentian kerja sementara kepada kakitangan kami.

"Kalau kami boleh elakkan, kami akan elakkan tapi nak buat macam mana," katanya.

Mengulas mengenai isu pampasan berkenaan, pihaknya masih tidak boleh mengeluarkan sebarang keputusan dan bergantung lagi kepada pengurusan dan pihaknya berjanji akan terus menjaga kebajikan pekerja dengan mendapat pelbagai faedah lain termasuk perubatan.

http://english.astroawani.com/malaysia-news/what-are-we-eat-if-salary-rm1-800-cut-50-megasteel-staff-101963

Then continue sleeping lah.

Still no encouraging news. Request again. Haiz..
Means it will continue to sleep?

investor99, no worries. Hahaha...

Who knws suddenly got seller at 5cts. I tot everything seems like positive. Should close at 5.5cts.

I think close at 5 cts. Got seller at 5 cts.