Borrowed more money form the Creditor???..Kinsteel has secured a loan to make the RM40m repayment for its Islamic bond that is due today from the bank that had subscribed to the bonds. This alleviates the steelmaker's financial distress and the threat of having its bonds downgraded to junk rating. The share placement exercise to raise RM29m to partly remunerate the RM40m bonds has yet to be finalised.
There is nothing worst than this quarter. Things will only get better and better... No more factory maintenance shut down, higher margin for export of inventory products, lowest cost of production once pelletising and concentration plants up, mining once starts in 4 th quarter, debt problem solved by 5th October... US, Japan housing boom... China economy stabilization... New major shareholder coming in... Lots of good news ahead!
yalah, alexis, it is heart attack if the price drop to 0.24. Spinning lotus, thank that u give a good news for this counter, anyway for me if i can earn 200% i will let go already. is not dare to wait 300%.......
China’s imports of iron ore, the single-biggest source of demand for the vessels, expanded 8.1 percent to 526.7 million metric tons in the year to August compared with the same period a year earlier, customs data show. The increase is the result of strengthening steel output and prices in China, according to Fotis Giannakoulis, a New York-based analyst at Morgan Stanley.
there are now too many iron mines and too many steel companies in this world since iron and steel are in great demand a few years ago..don't forget that iron is abundance... --- kinsteel problem is not just demand...its debt is humongous!!!...it will eventually goes under 10 cents...with very poor management...and corrupted also
perwaja has reached its lowest at 33 cents..and now is only 34 cents..while kinsteel lowest was 25 cents and now is at 27.5 cents...mak sama anak sama je...dah le miskin...laki pun takde..kahkah ..prepare yourselves... under 20 cents is JUST AROUND THE CORNER...even someone want to sell me at 10 cents...i need to think wisely...and fundamental will not be any in my mind..just goreng..haha hancur lebur...melting kinsteel and perwaja
Name of Director Date of Disposal Nature of Interest Price per Shares (RM) Number of Ordinary Shares of RM0.20 each % of Issued Shares Dato' Pheng Chin Guan 04.10.2013 Direct 0.2700 500,000 0.05%
I am interested to take risk on this one. People dont like it. Accumulate slowly. Iron ore price will pop up soon. Demand from China is booming for iron ore. Don't worry my Investment group members have the HOLDING POWER. We are also interested in Pantech, KNM, Handal, and DAYA too. Just concentrate on our own investing style. Taking the less travelled road.
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....
matrix109
201 posts
Posted by matrix109 > 2013-09-02 12:45 | Report Abuse
bad debt company. In deep trouble.