Posted by cherry88 > 2014-11-04 18:24 | Report Abuse

Bursa decided to suspend Kinstel and Perwaja next Monday....Will it like MAS ? taking back by governemnt as it is "too big to fail" ?.......If yes, then buy buy buy.....it won't go too low.....MAS is flying back.....same with Kinstel and Perwaja

Posted by spinninglotus > 2014-11-04 18:46 | Report Abuse

No, it will not be like MAS. Don't compare apple and eggs. MAS shares are owned by government, whereas perwaja is owned zero by government, EPF and GLC/GLFunds.

Posted by investor99 > 2014-11-04 20:48 | Report Abuse

Martin, kinstel liabilities higher than assets, many uncertainty in future. Play safe & good luck. Happy Trading!

Posted by simon333 > 2014-11-04 20:54 | Report Abuse

I totally agreed investor99 , heard top banker which approval the loan to kinstel now quite like hell , scare to follow the cases , withdraw to investigated the outcome , liabilities facing . Reason is the top seat which himself own any time got burn , terminated . Ki ki , if I am the one , now also stand died waiting to dismisses by bank .

Posted by reader > 2014-11-04 20:54 | Report Abuse

It would be interesting to see how they are going to rescue the company, if any party wants to takeover and attempt it. Just injecting money is not going to help much. Even if Malaysia ban China imports, they still have problems.

Steel plants are expensive to operate and maintain, and those plants inherited by Kinsteel from the original Perwaja are big ones compared to smaller players like Masteel. In the steel industry, if you are unable to run 24/7 you incur huge overhead losses. Masteel can consistently make money because it is lean, its plants can run at higher utilisation levels, and in bad times it can adapt to market situations with lower overheads.

Furthermore, Kinsteel/Perwaja plant equipment set-up is at a disadvantage compared with other steel companies; it is huge, their beam section products are having marketability problems; their upstream plant is in Trengganu and the downstream in Kedah which incurs big transportation costs from coast to coast.

From 5 or 6 years ago, the plants have been running on & off, there was talk of shifting the Gurun plants to the East coast, finally they shutdown and retrenched in 2012 (see workers demo at http://www.youtube.com/watch?v=hvVLRH1EnOM).

Posted by simon333 > 2014-11-04 20:55 | Report Abuse

Quiet , sorry , wrong word putting just now !

Posted by simon333 > 2014-11-04 21:00 | Report Abuse

Thk u reader ! Note , u really put initiative to give opinion , final result , as mention below , god also not eye see ! Gone cases .

Posted by simon333 > 2014-11-04 21:06 | Report Abuse

Not body willing to bare the losses , especially trillion involve ! Government also give out ! Not more direction on it ! Serious , kinstel like a rotten egg , split to sub , sub to nothing's , in the end .

Posted by reader > 2014-11-04 21:50 | Report Abuse

In 1997, Malaysian government sold Perwaja after absorbing RM2.98 billion in losses, thereby completely cutting itself off from this unhappy episode. see
http://news.google.com/newspapers?nid=1309&dat=19970123&id=rPxOAAAAIBAJ&sjid=PRUEAAAAIBAJ&pg=1757,3086774

The government is not going to go back to rescuing Perwaja.

Posted by simon333 > 2014-11-04 21:53 | Report Abuse

Smart reader ! U recovery previous history so fast . U genius to understand to fact ! No fact is serious fact now ! U see .

Posted by simon333 > 2014-11-04 21:55 | Report Abuse

Kinstel going to declare bankrupt .! Toilet paper become .

Posted by simon333 > 2014-11-04 21:56 | Report Abuse

Sad ending !

Posted by tjhldg > 2014-11-04 22:47 | Report Abuse

kikikikikiiiii ... i m in today ;)

Posted by aliyusof > 2014-11-05 05:59 | Report Abuse

Hoping government to help..
Day dreaming. Firstly it is 100% private owned. Secondly it has already problems with Mas, Proton and time bomb 1Malaysia Development Berhad and many big projects like MRT, Pan Borneo Highway, etc. Thirdly, no money as Petronas needs to spend on all their big projects in Canada and Pengerang...worst are Perwaja and Kinsteel debts are very high, bigger than their assets, negative shareholder fund, etc..best way is bankruptcy!

Posted by bjgdila123 > 2014-11-05 06:21 | Report Abuse

The gov will resque why should be worry

Posted by aliyusof > 2014-11-05 07:13 | Report Abuse

Day dreaming hope gov help. Proton with Dr M pressuring hard pun tak tolong. Check out who are major shareholders of kinsteel.

Posted by simon333 > 2014-11-05 09:14 | Report Abuse

Toilet paper is confirm , plunged down like hell , touch 0.15 . Debt is over the asset , any time declare pn 17

Posted by gyaphong > 2014-11-05 09:22 | Report Abuse

2 more days to submit report before suspend... can it make it? if manage to submit the report. results is really negative.. also a downtrend... moving to 10 cents

Posted by simon333 > 2014-11-05 09:30 | Report Abuse

I heard the report already done ! Just after u see , sure vomit blood ! Trillion gone without prejudi , horrible and terrible !

Posted by simon333 > 2014-11-05 09:32 | Report Abuse

Internal and external bribe ! I think , only this up side down deficit event . Malaysia really boleh ! BOLEH .

Posted by simon333 > 2014-11-05 09:33 | Report Abuse

Malaysia only things proud is APA PUN BOLEH !

Posted by simon333 > 2014-11-05 09:40 | Report Abuse

Down trend is necessary cause not value at all . Negative value , that mean u need to bare the losses when u hold this share ! U there to bare , frenz kinstel ?

Posted by simon333 > 2014-11-05 09:51 | Report Abuse

One way ticket ! Holland trips .

Posted by simon333 > 2014-11-05 09:52 | Report Abuse

Cheap sale ! But the destination is well known place , holland !

Posted by cklai77 > 2014-11-05 10:02 | Report Abuse

simon333, why u so confident kinstell will go holland?

Posted by cklai77 > 2014-11-05 10:02 | Report Abuse

How about the China investor?

Posted by simon333 > 2014-11-05 10:13 | Report Abuse

China man investor all are lie , con man , no one can trust ! U only trust your own money , cannot hope for them , they are one kind person , which place got money , they will stick too , now , crisis come , they already run far far away !

Posted by aliyusof > 2014-11-05 10:20 | Report Abuse

Businessmen from China are shrewdest and cunning ..
The steel market is bad for next few years. No stupid to invest in it as it is good money chasing after bad money. 100% they will not buy it.

Posted by simon333 > 2014-11-05 10:28 | Report Abuse

U really super smart , aliyusof , u I highly recommend to joint PARTI PEMBANGKANG . Potential to be nation no one !

Posted by simon333 > 2014-11-05 10:30 | Report Abuse

0.10 is coming , may be delay until Friday touch before suspend to tender !

Posted by simon333 > 2014-11-05 10:32 | Report Abuse

Open tender to public option ! Heard our top rich Malay entrepreneur interest to tender ! Not joke , is rumoured .

Posted by aliyusof > 2014-11-05 10:41 | Report Abuse

May be new buyers may come in to buy it very cheap BUT surely will only buy the assets only from the banks and NOT the companies which will be left to go bankrupt. So they can start it without carrying the debts. Sorry for holders of the shares (toilet paper) and all unsecured creditors. Can buy and bargain cheap only they collapse and bankrupt. Just like MAS but at least government is kind enough to absorb the shares at 20+ cents. In this case, new buyers are not government.

Posted by spinninglotus > 2014-11-05 13:04 | Report Abuse

Most likely Pheng Yin Wah is arguing with auditors to increase valuation of fixed asset values.

Posted by bjgdila123 > 2014-11-05 20:29 | Report Abuse

closed shop

Posted by simon333 > 2014-11-05 21:29 | Report Abuse

Mahathir son interesting to take over ! He already put initiative to help , like proton , rescue on spot , coz iron industries after government najib surrender to Mahathir , I talk still bright future , life back again . Ki ki ki . Wakaka . Tu !

Posted by aliyusof > 2014-11-06 08:50 | Report Abuse

Not true on Dr M as adviser to Kinsteel. They are more interested in more lucrative sure win contracts of oil n gas business via Sapura Kencana. At best they may help Proton as automotive business still a bright future. Not sunset steel business dominated by Chinese. 100% supply capacity in Malaysia already, besides cheap and competitive imports!

Posted by aliyusof > 2014-11-06 10:49 | Report Abuse

If so good, why they do not announce it publicly Dr M is adviser, at this critical moment? Simple logic.

Posted by aliyusof > 2014-11-06 10:55 | Report Abuse

Please check trading volume now in Bursa. A lot of sellers ready to upload their shares vs buyer volume. Tell u something....

Posted by pdtan > 2014-11-06 11:45 | Report Abuse

"martin555 ...............confirm news said is Dr M . he influence today up trend , coz his son interesting this business ..................."

PVTS: Chart-wise,these/next 2 days of range-trading between 0.15-0.17 after a sharp fall of 6 cents from 0.22 ----IS NOT MTHR & SON---is part of the FALLING KNIFE deliberately executed in chart.

IF there is another 6 cents sharp fall next 2 weeks to 0.09-0.10 then we can conclude that chart reading can be useful to envision suck wicked chart-fixing to CLEANSE the (ignorant and innocent) retail investors.

I as ikan bilis will stay clear UNTIL AFTER it hit 0.145 and see its whether reversal or breakdown....
breakdown means i am confident that 0.10 is a SAFER price to trade for rebound...

Verdict : Falling knife--stay out!!

Posted by spinninglotus > 2014-11-06 12:16 | Report Abuse

Monday already suspend trading... Please note.

Posted by spinninglotus > 2014-11-06 12:32 | Report Abuse

Monday suspend trading, close at 16 cents. After few weeks, resume trading, if perwaja bankrupt, Kinstel may drop to 9 cents. However, I support perwaja bankrupt, then Kinstel can liquidate its assets as major creditor for perwaja. Kinstel might be guarantor for some of perwaja's debt, but Kinstel can manipulate laws and refuse to pay back.

Posted by spinninglotus > 2014-11-06 12:34 | Report Abuse

Only after perwaja bankrupt, Kinstel can then start anew. Liquidate perwaja assets for fresh cash. Start anew.

Posted by aliyusof > 2014-11-06 14:25 | Report Abuse

Spinninglotus, u r right, Kinsteel may fall when perwaja is liquidated as kinsteel stands bank guarantor for debt of perwaja up to a huge RM768m (announced in Jan 2013 to Bursa). If it submits audited account tomorrow (there will be a disclaimer of opinion by auditor and surfacing of all the dirts and rubbish) Kinsteel will be placed under PN17 and its price will drop to a very low like 9 or10 cts. If it does not want to submit it because of of the bad comments by auditors, both counters will be suspended. Either way, t is a dead end. So friends, please decide yourself on these counters with extreme caution and wisdom.

Posted by gyaphong > 2014-11-07 09:30 | Report Abuse

buy? sell?

Posted by aliyusof > 2014-11-07 10:22 | Report Abuse

Look at the trading volume for both Kinsteel and Perwaja ... big alligators (sellers) are slowing feeding and drawing small ikan bilis or small fish (buyers) out who will be surely trapped later..

Posted by simon333 > 2014-11-07 16:57 | Report Abuse

Toilet paper declare next week ! U save or not ! Still thinking , I talk u stand die by keeping . Good luck to U .

Posted by gyaphong > 2014-11-07 17:11 | Report Abuse

report on the way to bursa....

Posted by gyaphong > 2014-11-07 17:11 | Report Abuse

but red results.... also die

Posted by reader > 2014-11-07 20:10 | Report Abuse

Kinsteel & Perwaja submitted reports just at the last moment, so no suspension.
As expected, huge losses + negative net assets + negative cash flow.

Posted by simon333 > 2014-11-07 20:51 | Report Abuse

Plunged down like hell ! 0.10 is coming .