KUALA LUMPUR: Kinsteel Bhd has become the latest steel company to be classified as a Practice Note 17 (PN17) issuer, as its auditors have expressed a disclaimer opinion in its latest audited financial statements for the year ended June 30, 2016 (FY16).
Already warned a few times here to be cautious on this counter and also Perwaja but many still did not think so. Just look at their horrible accounts, gone long time ago. Perwaja ceased operation totally for 3 years, yet its share price is still 9 cts. Wonder.
wow, kinstel and knm was once the most 2 popular stocks. seeing kinstel becoming toilet paper, suddenly think buying knm is a bit too risky. cannot imagine if knm drop from 0.40 to 0.03 sens. it's disastrous.
it's either malaysian getting screwed by GLC or the country really in trouble.
Almost all PN 17 companies cannot recover, only in very serious financial trouble, baru kena masuk ICU ward (PN17). Buy at your own risk. Look at Lion Corp, turun hingga ke 1 sen sebelum hilang dari Bursa.
The only worry is they default it and start again with new company name. Long term is good to invest, good horse,no one(investor) will setup a totally new steel company for business. Kinsteel already have completed and ready machinery with worth value 500 million.
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....
Hafidz Anuwar
1 posts
Posted by Hafidz Anuwar > 2016-10-20 15:54 | Report Abuse
where can I get the financial data for the year of 2013 for this company?..thanks..