Posted by 8wpwtmt8 > 2016-11-29 22:41 | Report Abuse

http://www.malaysiastock.biz/Corporate-Infomation.aspx?type=A&value=V&securityCode=5797

Choo Bee results is also no good. Revenue continues to drop.

Posted by Remisier > 2016-11-30 07:00 | Report Abuse

The main reason for Mycron drop is due to quarter result for Mycron is below market expectation. Market expect 16Mil but just come out 7.856Mil. If take into consideration of impairment loss, Q416 net profit is 16.01Mil, Q117 net profit is just 7.856Mil. It is 51% net profit drop compare to last quarter. I have sold all Mycron at 1.12 yesterday.

Posted by Warn3r > 2016-11-30 07:55 | Report Abuse

Remisier, after repeating yourself 3 times. The net profit is RM 10 mil not RM 7.856 mil.

Posted by Dhuhaboy > 2016-11-30 08:31 | Report Abuse

I see a positive result. Will add some if drop to 0.96.

Posted by 007 > 2016-11-30 08:59 | Report Abuse

mycron holding 70% of melewar group revenue and profit and why melewar loss about 1 mil and 8 mil after after tax siting loss in project division. People are worry another FGV in making. Malay company mah what to expect

Posted by Tom > 2016-11-30 09:03 | Report Abuse

why laosai? 大家都知道。。。

Posted by Undercover > 2016-11-30 09:07 | Report Abuse

I really don't know why laosai

Posted by Alex Lim Jun Xiong > 2016-11-30 09:13 | Report Abuse

Habis cerita~

Posted by 007 > 2016-11-30 09:14 | Report Abuse

support at 0.85

Posted by Remisier > 2016-11-30 09:14 | Report Abuse

Warn3r, if you know how to read the report and read the detail, then you will know the actual net profit is RM 7.856 mil not RM10 mil. You need to take out impairment loss divided into 4 quarters which just charge on every Q4. I just tell the fact.

Posted by Warn3r > Nov 30, 2016 07:55 AM | Report Abuse

Remisier, after repeating yourself 3 times. The net profit is RM 10 mil not RM 7.856 mil.

Posted by Alex Lim Jun Xiong > 2016-11-30 09:24 | Report Abuse

Dhuhaboy, opening trade at 96 cents is u?
Now 90 cents only, not even half an hour.

Posted by Warn3r > 2016-11-30 09:24 | Report Abuse

Hi Remisier, apparently I don't. How to get RM 16 mil profit from last quarter's result after taking into consideration of the write down?

Posted by hewiester > 2016-11-30 09:36 | Report Abuse

There's too many smart ppl in the mkt. All getting panic and cut loss :D and in another one months time, when Csc steel and gang is gearing up.. all chase high!

Posted by strykerjunior > 2016-11-30 09:40 | Report Abuse

Mycron has found some support at 0.9. Melewar's drop has also halted for now. Seems like calibration is going on. Hopefully technical can help to support their price for some time before some good news come. Why not just take Melewar private since the price does not reflect the true value of the company. Any opinion on this matter?

Posted by Alex Lim Jun Xiong > 2016-11-30 09:48 | Report Abuse

Walao, FGV, DRBHicom & Media Prima post quarterly losses also didn't drop so much.
I wonder why mycron can free fall with positive result.

Posted by Dhuhaboy > 2016-11-30 09:48 | Report Abuse

@Alex nvm. Maybe i make mistake. Really hard to understand the market nowadays. Now im finding a good price to cut loss or to wait longer. I ok with my price.

Posted by Sharon Chok > 2016-11-30 09:53 | Report Abuse

can go in at this price? will go down further?

Posted by Remisier > 2016-11-30 09:54 | Report Abuse

Warn3r, the impairment loss for Q416 is 8.646 Mil, it just charge for every Q4. This amount divided into 4 quarters will be 2.16 Mil per quarter. So net profit for Q416 is 9.336+8.646*3/4=15.82Mil, net profit for Q117 is 10.08-8.646/4=7.9Mil.

Posted by Warn3r > Nov 30, 2016 09:24 AM | Report Abuse

Hi Remisier, apparently I don't. How to get RM 16 mil profit from last quarter's result after taking into consideration of the write down?

Posted by Remisier > 2016-11-30 09:56 | Report Abuse

What I can say, Ekovest is best choice.

Posted by smartag > 2016-11-30 09:57 | Report Abuse

run! Usd up 10%, HRC up 10%, cost up 20%, CRC up less than 10%, next 1-2 Q result loss soon.

Posted by CharlesT > 2016-11-30 09:57 | Report Abuse

It went up abt 300% from 0.30 early this year, c how they want to kill u

Posted by CharlesT > 2016-11-30 09:58 | Report Abuse

Bloodbath for Steel co across the board

Posted by CharlesT > 2016-11-30 09:59 | Report Abuse

A rather short life Theme Play...or are we going to see round 3 in 2017?

Posted by HappyBuyer > 2016-11-30 09:59 | Report Abuse

mycron this round really sayonara ald:(

Posted by CharlesT > 2016-11-30 10:01 | Report Abuse

Good result die, bad result die hard...

When prices oredi move up few hundred percent the risk is too high against the reward

Posted by aliciateo > 2016-11-30 10:04 | Report Abuse

scary scary~ lets see what will it happen....will it get a rebound? Mr.Market does not like steel theme now in this moment

Posted by Dhuhaboy > 2016-11-30 10:06 | Report Abuse

All stock collapse

Posted by CharlesT > 2016-11-30 10:08 | Report Abuse

For those trying to catch falling knife also kena burnt...I started to buy CPTeh's The Big Short Theory

Posted by aliciateo > 2016-11-30 10:08 | Report Abuse

0.84, chi kek

Posted by TomyamGong > 2016-11-30 10:10 | Report Abuse

What the hell is going on? Operators push down?

Posted by Hotrod > 2016-11-30 10:12 | Report Abuse

ask OTB

Posted by aliciateo > 2016-11-30 10:13 | Report Abuse

i still look good on mycron, but no guts to catch, lets see how it gonna rebound de price bek to its value and treat is as a learning lesson

Posted by valuelurker > 2016-11-30 10:13 | Report Abuse

Where's the self-styled 'sifu' and 'wizard' now hahaha

Say more megasteel closure la, hrc-crc spread la, anti-dumping tariffs la

Posted by CharlesT > 2016-11-30 10:14 | Report Abuse

MoneySifu long time no c here...hopefully he sold some..

Posted by musangfoxking > 2016-11-30 10:15 | Report Abuse

forced selling, margin call n lau sai... 3 in 1!!!!!!!!!

Posted by Alex Lim Jun Xiong > 2016-11-30 10:18 | Report Abuse

B3 Prospects for the remaining financial year (continue)
Specific to the Group’s steel businesses, the ramifications of the aforementioned are generally negative. Besides
the weak Ringgit which increases the landed cost of imported raw materials, Hot Rolled Coil prices in USD also
saw sharp increases by more than 15% in the early 2nd financial quarter following the sharp rise in coking-coal
prices by more than 70% in the current financial quarter. Even-though the Group’s steel businesses’ financial
performance is not directly correlated with steel prices, such sharp movement in prices may affect demand and
erode margins in the near-term. The acceleration of cost pushed inflation translates to higher production and
operation costs which in the near-term may also erode margins.
The spike in crude steel prices has already started to boost crude steel production in China, and this may result in
surge of steel exports again to the region and disrupt the domestic steel market. However, the Group’s steel
products are in the ‘flat’ category which is in a better position to compete given the existing trade measures
against unfair competition from imports. On the positive side, the wide industrial applications of the Group’s flat
steel products provide a relatively stable demand base – as certain ‘end consumer’ output may benefit from the
weaker Ringgit in export markets. On-going and planned mega infrastructural and construction projects in the
country will also continue to provide a strong support for local steel demand.
In conclusion, the Group’s prospect outlook for the remaining of the current financial year is ‘challenging’ with
mounting pressure on margins.

*** The word "challenging" in management comment meaning sell. Upcoming business is not optimistic anymore.

Posted by Alex Lim Jun Xiong > 2016-11-30 10:19 | Report Abuse

+ got the word "pressure" meaning selling pressure is on.
Good luck~

Posted by Hotrod > 2016-11-30 10:22 | Report Abuse

You guys forgotten steel is a black sheep industry. When sentiment turns bad, this sector will get hit back to where it began.

Posted by ahdi > 2016-11-30 10:23 | Report Abuse

wont subscribe otb service again. he brought me to holand like gamuda-we, mycron, gadang..his TA is fxxking laosy, when the price moved up n we supposed to sell but he asked us to buy just because what TA BUY signal come out. those who want to subscribe his service must re-consider again. im his 2 years subscriber, last year export share kena, this year steel/construction share kena.

Posted by IamGoogle > 2016-11-30 10:24 | Report Abuse

Opportunities surfaced? Or Start game of blaming sky blaming earth?

Posted by ljmeng > 2016-11-30 10:25 | Report Abuse

Haha....

Posted by CharlesT > 2016-11-30 10:26 | Report Abuse

RIP Miss Universe...I think those stuck at high prices may have to wait for many many years ..any rebound better sell n cut loss..

Posted by CharlesT > 2016-11-30 10:27 | Report Abuse

Overall mkt is very bad

Posted by IamGoogle > 2016-11-30 10:28 | Report Abuse

Unless next QR is extremely good like above 16m, or else this is gone case

Posted by IamGoogle > 2016-11-30 10:29 | Report Abuse

Agreed, whole market is damn bad

Posted by carrotlim333 > 2016-11-30 10:29 | Report Abuse

collapse......?

Posted by strykerjunior > 2016-11-30 10:30 | Report Abuse

Just take the company private. Mycron and Melewar. lol

Posted by speakup > 2016-11-30 10:30 | Report Abuse

market crash .... najib must resign

Posted by Up_down > 2016-11-30 10:32 | Report Abuse

Heavy profit taking. If the price breaks resistance 82 cents, it may go down all the way to 70 cents.

Posted by probability > 2016-11-30 10:33 | Report Abuse

if you guys really understand HRC pricing locally, HRC price externally and the concept of bulk CRC price to local customers compared to CRC price externally, plus the direction of currency... its all plain to see whats happening at Mycron.

You will understand why a huge potential gain from Megasteel closure had been wiped out - simply because of the above dynamics.

If you want less headache knowing how all this works with the added assurance that shares are being acquired by major shareholders....suggest go for Prestar - it wont face such abrupt margin changes.