Posted by Hwai Hooi > 2017-05-26 17:52 | Report Abuse

seem like QR look good

Posted by leelc99 > 2017-05-26 17:56 | Report Abuse

Q-Q decline in net profit....

Posted by probability > 2017-05-26 18:04 | Report Abuse

CNY can bring down the sales by 17%? Better stay away from this Mycron and Melewar management. Total disappointment for me.

Posted by leelc99 > 2017-05-26 18:07 | Report Abuse

probability, going to cut loss and move on??

Posted by probability > 2017-05-26 18:10 | Report Abuse

If you can sell at the price you are comfortable, sell else just wait for next qtr results in 3 months time to recover. (at least CNY wont affect it!, but i dont know if there will be yearly impairment on next qtr?).

Sorry if i had misled or influenced anyone here to mycron.

Posted by ilovehits > 2017-05-26 18:12 | Report Abuse

Result looks good but under expectation.

Posted by tan8620 > 2017-05-26 21:06 | Report Abuse

someone saying can earn rm20m...but the qr is below the expectation...look like will follow others steel counter under consolidation...

Posted by Up_down > 2017-05-26 22:17 | Report Abuse

What's wrong with the CNY??? It is a norm in Mycron business cycle. Let's read the explanation in last year.

QR 31 Mar 2017 explanation:
The Group however registered a lower pre-tax profit of RM10.8 million compared with the immediate preceding quarter’s pre-tax profit of RM12.6 million mainly due to the lower sales volume (down by around 17%) achieved by its Steel Tube segment attributed to the Chinese New Year holidays saddling the current quarter.
Correspondingly, the Group recorded a lower net-tax profit of RM7.4 million compared to a net-tax profit of
RM9.5 million in the immediate preceding quarter.


QR 31 Mar 2016 explanation:
The Group’s revenue at RM142.5 million for the current 3rd quarter which saddles the Chinese New Year festive
period is around 1% lower than the immediate preceding quarter’s RM144.1 million. The lower revenue is
attributed to a 12% drop in sales volume for the Steel Tube operation (due to the festive holidays and raw coil
supply disruption from the cessation of Megasteel as mentioned in Note A11) coupled with the continued decline
in unit selling price for the tube products (down by 0.8%) and cold-rolled coils (down by 3%). However, the
higher sale volume (up 11.8%) achieved by the Cold Rolled segment lifted the current quarters’ revenue.

Posted by probability > 2017-05-26 22:24 | Report Abuse

up_down, they are running at half the capacity...if they really wanted...if there is a real drive to grow...they could have overcomed this CNY constrain. I see that as a lame excuse

Posted by probability > 2017-05-26 22:26 | Report Abuse

they could have put some overtime earlier...its not like you have 2 weekk CNY break. Can't they accumulate and stock their products and then sell in one go?

Posted by Up_down > 2017-05-26 22:33 | Report Abuse

probability. I am not really sure whether they have done that or not...Inventory shot up by almost 80% comparing with Qtr 31Dec16.

Posted by probability > May 26, 2017 10:26 PM | Report Abuse

they could have put some overtime earlier...its not like you have 2 weekk CNY break. Can't they accumulate and stock their products and then sell in one go?

Posted by probability > 2017-05-26 23:13 | Report Abuse

ok. thanks for sharing Up_down

Posted by abangadik > 2017-05-26 23:30 | Report Abuse

probability, what sector are you working in? maybe can try to understand the supply and demand here:D

CNY for a lot of construction company and SME shutdown is not just few days. It normally last 2 weeks. Just my observation. Thank you.

Posted by probability > 2017-05-26 23:32 | Report Abuse

abangadik, i was in production currently in engineering and supply

Posted by abangadik > 2017-05-26 23:37 | Report Abuse

:D I see! Up_down has some experiences in supply chain and finance I believe. That's why I trust his figure a lot.

I can understand about preparing production/OT before/after shutdown to make up for it but when no demand supply is not needed. I try to see both side, perhaps could be a good explanation. correct me if I am wrong.

Posted by probability > 2017-05-26 23:37 | Report Abuse

The thing with production is you don't need high skilled labor, nepali, bangladeshi also can do it and they dont mind if they are paid overtime or extra pay during public holidays.

like what up-down mentioned, they talk about throughput in terms of tonnage sold (Sales volume) not in terms tonnage produced. As such the high level of inventory can be a justification as they probably did not stop the production completely during the CNY.

Posted by abangadik > 2017-05-26 23:40 | Report Abuse

Yes bro. What I am trying to say is this, bangladeshi nepali working on site for steeltube no work becuase Chinese supervisors not working. My family runs constrution company, so this is the norm for a lot of small/medium projects. CNY is low demand month because tauke/supervisor wants shutdown not the labors.

Posted by probability > 2017-05-26 23:43 | Report Abuse

in overall my concern is this, the rising sales volume earlier gave me the impression the demand is improving...but with this report i became more skeptical.

Posted by abangadik > May 26, 2017 11:40 PM | Report Abuse

Yes bro. What I am trying to say is this, bangladeshi nepali working on site for steeltube no work becuase Chinese supervisors not working. My family runs constrution company, so this is the norm for a lot of small/medium projects. CNY is low demand month because tauke/supervisor wants shutdown not the labors.

Posted by abangadik > 2017-05-26 23:45 | Report Abuse

Lolz....that's why I said overly optimistic and perhaps didn't anticipated the seasonal reason for CNY. :D

Posted by Tom > 2017-05-29 09:02 | Report Abuse

what's going on here? suddenly huge drop

Posted by leelc99 > 2017-05-29 09:11 | Report Abuse

One of the worst steel stocks

Posted by chiodos > 2017-05-29 09:24 | Report Abuse

what happens haiyaaa

Posted by Ivan89 > 2017-05-29 09:25 | Report Abuse

Good result why panic sell

Posted by chiodos > 2017-05-29 09:25 | Report Abuse

yeah still making profit but bloody meh

Posted by Ivan89 > 2017-05-29 09:31 | Report Abuse

Discount now, wash out contra kaki

Posted by anson938 > 2017-05-29 09:42 | Report Abuse

Yup.

Posted by billy43 > 2017-05-29 09:51 | Report Abuse

lousai

Posted by comebackisreal > 2017-05-29 10:35 | Report Abuse

No worry la. Still cheap PE low. Still making profit

Posted by Alex > 2017-05-29 10:59 | Report Abuse

QoQ down 22%, sell?

Posted by Up_down > 2017-05-29 11:05 | Report Abuse

The short term traders have really put in very high expectation on this counter.

Posted by mastertrader > 2017-05-29 11:09 | Report Abuse

mycron need to sell off then try to reentry again when the price reach sapport

Posted by hklcheng > 2017-05-29 11:30 | Report Abuse

keep droping

Posted by Insider_News > 2017-05-29 11:34 | Report Abuse

All steel stocks free falling, no matter do good or bad

Posted by stockmanmy > 2017-05-29 11:40 | Report Abuse

All steel stocks free falling, no matter do good or bad

to punish i3 members who went ballistic recently

I have seen my Mycron from + to -


Q1 results boosted by stocking activities throughout the industry.

Posted by Hwai Hooi > 2017-05-29 11:45 | Report Abuse

drop too much..difficult to go up..

Posted by anson938 > 2017-05-29 11:56 | Report Abuse

Pewaja news effect

Posted by Freshman73 > 2017-05-29 12:05 | Report Abuse

why dropped? any news?

Posted by Mohd Fahmi Bin Jaes > 2017-05-29 12:08 | Report Abuse

sell on news

Posted by Ivan89 > 2017-05-29 13:16 | Report Abuse

No reason to sell. This is a good counter and the future prospect is good. Buy and hold one year. U will be rewarded

Posted by paktua73 > 2017-05-29 14:45 | Report Abuse

old man buy some he he
its hot here
aax so cool now hate
play around make money some
oldman always lie one
whuf whuf whuf grrrr grrr grrr

Posted by kryzariq > 2017-05-29 14:45 | Report Abuse

suddenly panic sell..hahaha buy more..PE still low

Posted by mastertrader > 2017-05-29 14:51 | Report Abuse

look like knife killing traders

Posted by comebackisreal > 2017-05-29 14:55 | Report Abuse

Uma pls

Posted by steven20 > 2017-05-29 14:56 | Report Abuse

Catch falling knife??

Posted by mastertrader > 2017-05-29 15:05 | Report Abuse

dont catch let it go maybe going down some more huhu

Posted by paktua73 > 2017-05-29 15:18 | Report Abuse

swalow at .85 one
and some more at .84
take when people throw
n throw when people greed
oldman always play play one
road runner pit pitt pitt

Posted by papaya > 2017-05-29 15:34 | Report Abuse

Over react...

Posted by projecti2016 > 2017-05-29 16:12 | Report Abuse

good opportunity to enter collection

Posted by TrippleZ > 2017-05-29 16:28 | Report Abuse

Big fund selling. Talk what also no use.

Posted by powerak > 2017-05-29 22:30 | Report Abuse

Now Good result also no use