Posted by kianlim2004 > 2013-04-13 18:33 | Report Abuse

I believe southern steel is a good buy now selling only
at RM$1.35 per share due to low buying interest which
I am quite surprise. Common Guys, the company's 2012
Annual Report is showing a depreciation charges of RM$68 million,
this implies that the company is making money but for
accounting purposes it has to show a loss. Next, new capital
investment is RM$197 million, it the company doesn't spend
this amount, the balance sheet would show that about half
of the company's equities is in cash. Remember the company
only issues about 400 million shares with RM$1 par value.
This shows that management is series about moving forward,
I am sure this company's future will be bright. It is the
most competitive steel company in Malaysia. My stupid guess is
it should be trading at around RM$1.50 per share right now.
It is not probably because its bosses, the Hong Leong Group
and Dr. Tan Tat-Wei do not care about the suffering of
their poor shareholders or business partners. I am surprised
the company hasn't even think about buying back its own shares
to protect the interests of their shareholders. I am impressed
by their skills in running the company but I am dissapointed
by their heartless behavior of not maintaining the share price
at the reasonable price!