Good things is it is building a strong base between 0.48 to 0.50. Once the foundation is strong enough, it is time for it to leap to higher ground. Period between 1 to 5 months to go reach 0.80c
Operator is tekanning... Make use of it to buy back what I sold bit by bit 😁😁 kenot buy to many cos dunno how low it will tekan, rebound oso ken buy back bit by bit... As long as it is lower than my selling price. Can pick up nevermind ... Afterall it can possibly go 60 ma...
I believe the selling pressure is due to uncertainty in the US and world economy. if not mistaken Jindal steel (India) recently announce QR with increased revenue but decreased PAT due to compressed margin. Furthermore, there is news that 40 of China bank have close down (absorb but larger banks). Due to all this uncertainty, many are taking off money and stay sideline. Well, you can see this as a opportunity to buy at cheaper so that wait for the boom cycle or follow the trend to be safe. I heard from many contractors that economy is indeed not so good but there is plenty of work out there. Only problem, many don't take to take up the job due to payment issues. Furthermore, the received news that construction material such as cement, steel will have another 10% to 15% increase by October. I'm not sure how true is that but the contractors says their supplier asked them to factor the increased into their project bidding.
Government implement e-invoicing... . they take care on how much they can get to spend but don't care the burden added to the people . Now who doesn't know aoounting and use computer cannot do business. Last time even those who can read can be a successful businessman
Now who want to start a business will have difficulty. Their income may be low , so to speak "exempted" from issuing e invoice. But those business which need e invoice will not buy from them... Jilakak6 Betul.
100mil company.to implement first? How about those smaller suppliers to these company, they don't give e- invoice . How these 100 million giant going to deduct as expenses?
100mil company.to implement first? How about those smaller suppliers to these company, they don't give e- invoice . How these 100 million giant going to deduct as expenses?
More difficult business environment, ie extra cost and penalty trap (20k ..man... Just one mistake can cost3 20k... And even jail term. If the profit is small , who wants to start a business. Bargirl... This fells.think everyone can't start a business with millions RM?
Eventually all this cost will be bear by the Rakyat... Not only money but social cost... Last time cannot find a decent job can try starting a small business. Now.... Die kiaw kiaw, no e- invoice no business. Want e invoice buy computer systems.... Even a a casual plumber has to do that. So... Need higher profit as he will need to spend time doing it or get somebody to do it...
If anyone is working in Eastern Steel, it would be great if you could update them on the progress of the Eastern Steel HRC mill. I think the HRC will be the only silver lining for ES and hiaptek. There is no doubt that China is dumping steel, and some said it is selling below production cost, but such a model can sustain for how long? Furthermore, the increase in freight charges and the long port clearance time due to port overcrowding, fluctuation of HRC and steel price and currency will be an advantage for the local production of HRC. The consumption for local HRC is 2 million tonnes annually, and if ES HRC is commissioned, it should easily consume 75% of ES 2.7 million steel slab production and Hiaptek steel consumption in 200 tonnes per year. Hence, ES production should be easily absorbed.
That is why I'm particularly interested in ES HRC mill progress. Megasteel HRC failed and was bought over by Lion Steel, and they tried to revive it in 2018, but then it failed again. Hope ES can successfully produce HRC for the local market.
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Hiaptek coming soon. Happy trading.