Probably we should look at how far can a share go instead of how far it has been going?
Cheap can got cheaper and you do not know how long will it take to run. Buying on first few stage upon fundamental recovery confirmed and price momentum like lionind is much better.
The Group’s plant in Banting had been impaired based on a revaluation conducted recently by an independent valuer. The plant was valued below its book value due to the cessation of the operation of the plant since 2014. In the event the operation of the Banting plant was resumed, a revaluation of the plant would be undertaken and adjustments would be made to the value accordingly.In relation to the full impairment of the trade receivables from related parties, including Megasteel, a reversal to the impairment would be made in the event repayment was received from Megasteel pursuant to its debt restructuring scheme.The recoverability of the outstanding amounts would depend on the outcome of the restructuring scheme.
hng33, thank you for the information on the revaluation of the Banting plant. Indeed if the Banting plant is revived, there will be exceptional gain from the revaluation (upward). Thus, eps would be higher in the coming quarters if Banting runs and PER could be much lower than 5 as postulated by Mr. Lim. All this assume that the demand of long steel remains high / very high for the coming 12 months.
A little knowledge is a dangerous thing, and I must confess I am guilty of it many time over. Banting is a Hot roll (steel) coil plant (HRC) and it can also do CRC i.e cold roll coil. It is protected by Government in terms of HRC and have basically gone bankrupt as it has not made money since 2012. Hence, in this long steel product article, it is not relevant. So my previous comment on possible higher eps and lower pe is not relevant at all, infact it could be negative if impairment still an ongoing process.
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New IPO: Building management systems (BMS), solar thermal systems and energy-saving services provider, Solar District Cooling Bhd aims to list on the Ace Market!
MQ Trader 881 views | 5 d ago
0:17
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
ilovehits
3,955 posts
Posted by ilovehits > 2017-09-23 12:04 | Report Abuse
You should find a stock that didn't shoot up yet. Like WealthWizard discovered MYCRON, EKOVEST and CAB Cakaran.
Now Lionind already up from $0.355 to $1.48, still want people going to buy? For me, I will let it go.
Anyway, thanks for your hardwork.