Steel prices steady growth in September, "Economic Transformation Programme (ETP), Klang Valley's Mass Rapid Transit (MRT) will gradually start, we also have a bid for one of the steel supply contracts, believe that the proportion of the supply will not be much to change. " Dai Xianlong also predicted, with the large-scale project is about to start, plus Eid al-Fitr after the end of little public holidays, steel prices are expected to grow steadily after September this year.
steel horse (MASTEEL, 5098, the main board industry) and the Dutch mining company, Trafigura (Trafigura) signed a contract to supply 270,000 metric tons of steel in three years, worth 500 million ringgit.
Ma Steel Managing Director and Chief Executive Officer Datuk Seri Dai Xianlong, said: "the three-year contract will begin in the second half."
He pointed out that the full production start-up With this contract, Ma Steel upstream and downstream production capacity in the next two years.
"Ma Steel continued to expand its production capacity is expected to upstream production capacity from 50,000 tonnes this year, upgrading to the next year 600 000 tonnes.
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Masteel Secures Deal To Supply Steel To MRT Malaysia Steel Works (Masteel) has secured a RM6.7 million contract to supply steel for the multi-billion Klang Valley mass rail transit (MRT) project. Under the deal, it will deliver high-tensile steel bars to Mass Rapid Transit Corporation by November end which is to be used at various sites, including Package V1-Sungai Buloh, Package V2-Kota Damansara and Package V5-Cheras, said the steel manufacturer in a statement. According to the company’s managing director and chief executive officer Datuk Seri Tai Hean Leng, the company expects more awards for steel bars to increase over the next three years as the momentum of the project’s implementation gains further traction. Apart from the MRT project, Tai said Masteel’s strategic location within the Klang Valley allows the group to benefit from other projects such as the RM7 billion KL Light Rail Transit extension, the RM1 billion New Pantai Expressway and the RM2 billion Low Cost Carrier Terminal.
Significance: Masteel has a 550,000 tonnes per year meltshop in Bukit Raja Klang, currently and a 350,000 tonne rolling mill in Petaling Jaya. The steel manufacturer is in the midst of constructing a third rolling mill which will enhance the group’s prospects from government projects.
Masteel & KUB JV company, MCN had received a approval letter to build/ operate commuter rail transit in Iskandar Malaysia. Also received abt rm700m goverment soft loan to fund the job.. Bullish..! will hit rm1.00 & sail toward rm1.80 sooon..
Masteel will start rm1.0b rail transit project in Iskandar next year.! Will allocate rm100m capex to build new steel rolling mill.. Also will increase dividend to be paid to shareholders..! Bright future.!
Meaning the contract haven't got approval from all relevant government dept. Loan haven't approved. And if all these ok, Singapore didn't even say they will connect their MRT to JB. Likely to be just intercity MRT in JB like hinted by the CEO
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....
arebear
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Posted by arebear > 2012-02-10 09:09 | Report Abuse
Boillinger Band Squeeze, pushing 200 day... hurmm