Posted by pareto_8020 > 2018-01-30 07:22 | Report Abuse

true...

Posted by Ananas > 2018-01-30 07:49 | Report Abuse

bonus issue just to increase share trading in the market but no effect for long term investor

Posted by gooman > 2018-01-30 08:14 | Report Abuse

KESM is a good buy. its outlook is very good after the recent AGM.Asian semiconductor stocks except Malaysian semiconductor stocks rallied on Monday.

Posted by AllWin > 2018-01-30 08:44 | Report Abuse

Good bonus issue before CNY

Posted by uzairbhatti0157 > 2018-01-30 08:49 | Report Abuse

Bonus issue seems to be good for long term hold

Posted by supersaiyan3 > 2018-01-30 08:55 | Report Abuse

Need to buy some more to avoid odd lot.

Posted by bluebiznet > 2018-01-30 08:55 | Report Abuse

Good for both short term and long term shiok sendiri

Posted by aslm > 2018-01-30 08:56 | Report Abuse

if you identified Masteel as good counter, now with bonus issue you will have more share holding. If company continue to perform better and better and the sky is limit, eventually you will have very good profit with more share holding. That's the reason people happy with bonus issue (although the price adjusted on ex-date but SKY IS THE LIMIT!).

Posted by bluebiznet > 2018-01-30 09:02 | Report Abuse

Good to see that.the price remain unchanged with bonus issue, means still plenty of intelligent investor in the market

Posted by Crazyrenoma > 2018-01-30 09:07 | Report Abuse

RESULT OUT ON 15 FEBRUARY 2018. WOWOWOWOOWOWOWOW

Posted by jackc88 > 2018-01-30 09:08 | Report Abuse

Bonus 1:3, means need hold shares in multiple of 3 to avoid odd lot?

Posted by SuperPanda > 2018-01-30 09:13 | Report Abuse

after bonus get 7K shares foc. save transaction cost.

ex date will reduce price 25%, increase liquidition and more affordable to new investor

lower it eps and increase pe

but yoy only need to beat 14m only. lets say next qtr 28m, already 100% increase.

qoq need to beat 38.6m, may lower due to end year construction slower

Posted by SuperPanda > 2018-01-30 09:17 | Report Abuse

annually will see tremendous improvement, prev 4 qtr total earn 20m only, if next qtr 28m, total yoy 90m. 450% increase.

Posted by STC1136 > 2018-01-30 09:22 | Report Abuse

SuperPanda, for your info, lower it eps, i agree, but for "increase pe" i not agreed.

Should be same either before and after bonus, u can calculate yourself.

Posted by Myeye > 2018-01-30 09:44 | Report Abuse

Sell on news ? ~.~111

Posted by kangai > 2018-01-30 09:46 | Report Abuse

pe will remain unchanged. unless u take into account those private placements

Posted by Myeye > 2018-01-30 09:46 | Report Abuse

+1.64 ~

Posted by SuperPanda > 2018-01-30 10:05 | Report Abuse

@STC1136, pls refer below;

eps = earnings ÷ no of shares
(no of shares increase, eps lower)

pe = current price ÷ eps
(eps lower, pe increase)

Posted by SuperPanda > 2018-01-30 10:06 | Report Abuse

Today 4.8m PP shares go to Mac at 1.502.

Posted by aslm > 2018-01-30 10:07 | Report Abuse

SuperPanda, the price will be adjusted also. So the PE unchanged

Posted by titus > 2018-01-30 10:19 | Report Abuse

Buy more....

Posted by uzairbhatti0157 > 2018-01-30 10:42 | Report Abuse

Why red today ...bcz of mac placement @1.52

Posted by GG_Liang > 2018-01-30 12:20 | Report Abuse

呵呵

Posted by GG_Liang > 2018-01-30 12:21 | Report Abuse

Q to add at 1.64

Posted by tallman > 2018-01-30 12:26 | Report Abuse

Buy on support

Posted by uzairbhatti0157 > 2018-01-30 12:49 | Report Abuse

Most counters red today

Posted by JN88 > 2018-01-30 12:50 | Report Abuse

2017Q4, 钢筋的平均价格 RM 2420 - RM 2510 （价格依据钢筋直径diameter而定）

假设每吨RM 2420 - RM 2510 ，以相同的销售量来说，MASTEEL 这一季可以录得大约 RM 414 mil - RM 429 mil的营业额。

毛利gross profit 大约 会介于RM40-45mil 之间 ， 那么净利会介于 RM20-25mil之间

至于来自外汇方面， 马币走强对MASTEEL有两个好处。

一， 进一步削减原料（废钢scrap metal和电极electrode）采购的价格

二， 应付账款payables 方面可以省下 （根据 2016年报，马钢有大约RM50mil 的PAYABLES是以美元计算），也就是说要偿还给供

应商的款项因为马币升值而少还了， 那么就可以记录成为外汇盈利forex gain了 ， 因为2017 Q4， USD由 4.2 跌到 4.0 ,就是说

大约5 %。


Forex gain will push up to net > RM 40 million.

Posted by JN88 > 2018-01-30 12:52 | Report Abuse

Mr. Ooi Tei Bee is a very hardworking investors. Thank you for all your hardwork done for this counter.

Best among 4 counters.

Posted by JN88 > 2018-01-30 12:56 | Report Abuse

1. Most of their inventories are made of raw materials (based on data from AR2016) and this will benefit Masteel in Q3 due to higher ASP rebar price. Their inventories management is based on FIFO basis which may drive Q3 profit higher than my Masteel part 1 article’s estimation.

2. Current Masteel’s inventories level (RM433 mil) is even higher than its whole market capital. If Masteel increase their production utilization rate to 90% (from 80% in 2016), then its revenue and profit should break new high (YoY and QoQ) due to higher ASP price of rebar (around RM2350 to 2400 in Q3 and RM2550 in Q4 per ton).

3. Masteel will be benefited from recent rebar price rally from RM2000 to RM2600++ (Sept and Q4) (Possible EPS of 9.99 sen in coming quarter).

4. It is a mid capital rebar counter which the weak Q3’16 and Q4’16 results indicate that it still has big room of improvement in term of EPS or PE ratio. If next quarter can deliver 9.99 sen EPS, then Masteel’s possible fair value could be RM1.89 (PE 8x) and RM2.34 (PE 10x, after bonus).

5. China has implemented steel production cut in Q4, high domestic rebar demands, export market opportunities and low inventory in local rebar manufacturers provide sustainability of high rebar average selling price in Q4’17.

If you interested on my analysis report, please contact me at davidlimtsi3@gmail.com

Posted by JN88 > 2018-01-30 12:57 | Report Abuse

Forex gain in paper at less RM 15-25 million coming 2 QUARTER!!!


由于美金兑马币在今年初从4.45逐渐下滑至目前的4.26，作为受惠者的MASTEEL在FY17首两个季度一共录得RM10.8m的外汇收益，占了整体盈利的44%。若剔除外汇收益，集团的近两个季度的核心盈利为RM13.9m。

在业务发展上，通过未来5年陆续推出的大型基础设施项目，MASTEEL放眼把东马的销售量进一步提高。集团将瞄准更多新兴终客户，如政府关联企业、西马主要承包商以及东马的新经销商。为了提升销售量15%，MASTEEL正在西马地区积极营销其产品，并预计可从2017-2022年进行中的Pan Borneo大道项目受益。

据管理层说，MASTEEL的钢筋产能将在今年提升，有望带动其收入额外增长RM150m，相等于12.5%的增幅。当然，这前提是钢筋需求持续走高。集团位于Bukit Raja的新轧钢厂使用率达到63.5%，主要生产优质小直径的钢筋Y10、Y12和Y16。未来，多个生产技术将陆续安装在这厂房上，届时有望提高其生产效率。

虽然在过去5年皆创造可观的营运现金流，但是MASTEEL却在业务扩展上投入不少资金，导致派息率非常低。即便在FY16创造RM38m的净现金流，集团也仅建议派发每股0.85仙的股息，引起股东们不满。在今年股东大会上，高达97.5%的股东不通过这笔股息的提案，非常罕见。

展望下个业绩，美金兑马币在Q3从4.30跌至4.20。MASTEEL预计可在Q3继续录得RM3-5m的外汇收益。然而，投资者必须非常小心。若美金兑马币突然暴涨，这势必为集团未来的盈利表现带来极大的影响。本专页相信市场对于MASTEEL的盈利预期非常大，但是其核心盈利却不是大家想象中那么高。

排除外汇因素，本专页预测MASTEEL全年核心盈利为RM30m。若包括外汇收益，其全年盈利可达RM45-50m之间。值得一提，
未来一旦美金兑马币走势趋稳，集团将失去外汇收益的优势。

Posted by JN88 > 2018-01-30 13:04 | Report Abuse

Coming 4 quarter:

1. Forex gain good.
2.Demand High.
3.Lower cost from importing material dominated in USD.
4. Increase steel price.
5. Strategies location.
6. Gov project not yet running.(mostly mega project)
7. Low debt among compares to other 3 counter.

More powerful than my Airasia.

Posted by JN88 > 2018-01-30 13:05 | Report Abuse

（吉隆坡29日訊）中國駐馬大使白天指出，中企來馬不僅僅是為自身利益，也出自鄰國間的友好情誼，透過中國最好工程質量，助大馬早日實現基礎設施建設領域新的里程碑，也為大馬早日實現2050年經濟轉型發展的宏偉規劃獻一分力。

他說，大馬建築界對中企“中國質量、中國技術、中國速度和中企高性價比”的認可，是中企在馬承接最多項目最主要原因之一。

白天今午巡視吉隆坡標誌大樓建設工程後，在工地受詢及對中企承建許多吉隆坡大型工程項目的看法時披露，大馬建築業如今蓬勃發展，中企來馬正逢其時，因此是非常自然和易於理解的現況。

“大馬進入基礎建設工程高峰期，也歡迎世上頂級優秀的建築企業來馬承建工程。”

他指出，中國經兩代人努力，不但把中國基礎設施水平推向世界最高水平之一，中國的全球最長2萬公里高速鐵路、13萬公里高速公路、國外承建許多最高建築、成為世界建築業奇蹟的大型橋樑和隧道，還有將竣工的港珠澳大橋，都是中國建築業的標誌。

按法規施工

白天強調，中企來馬慎重按當地法規施工，也注重當地屬地化原則，盡可能僱用甚至當地超過標準規定的員工數量。

“項目管理團隊裡逾40%是本地員工，從當地採購的各種建築材料，如鋼筋混凝土、機電設備等也逾60%，也算是某種程度中企無私回饋給馬。”

白天說，隨著承擔工程的中企都是全球領先施工工藝水平的企業，每個項目完成後，都協助馬培養大批當地工程技術人員。

“中國建築企業進行最開放無私、最毫無保留的技術轉移，自身發展起來了，也希望大馬的兄弟掌握類似能建設標誌大樓的基礎水平。”

標誌大樓 印證中國能力

白天指出，他為吉隆坡標誌大樓建設工程見證了“中國製造、中國質量、中國技術和中國速度”感到驕傲，同時也對中馬務實合作前景充滿信心，相信中馬關係會像標誌大樓般，有個“更高、更快、更強”的發展。

他說，吉隆坡標誌大樓是最多中企參與在馬承建的一個工程項目，它創造大馬建築業的紀錄，即平均3天1層，最快2天1層的高層建築最快速紀錄，這也代表了中國的速度。

“承建該項目的中國建築在全球建築領域500強裡，排名第24位。”

他披露，標誌大樓名不虛傳，是非常震撼的工程建設，名副其實的吉隆坡地標。

白天說，大馬正在落實的2050年國家轉型計劃，基礎設施建設是重要組成部分，加上大馬經濟發展程度較高，施工工藝要求也較高，歡迎外國優秀企業參與國家建設，中企來馬參與基礎設施建設，可謂正逢其時、天作之合。

他認為，吉隆坡標誌大樓也是一項中馬的務實合作，標誌兩國務實合作關係更上一層樓。

Posted by JN88 > 2018-01-30 13:09 | Report Abuse

All mega project will run after April....wakakakaka China steel production no need to futher cut just maintain at this level.

Mega project and high demand will push up the steel price..At least next 4 quarters.

300 million sap sap for masteel......Hopefully net cash company.

Posted by JN88 > 2018-01-30 13:23 | Report Abuse

Year end TP RM2.5-3 after this bonus issue and PP.

Done this year stock selection. A quite troublesome in selection of counter after USD strongest period come down.

Again Thank to Mr. Ooi Teik Bee.

Posted by azman123 > 2018-01-30 13:30 | Report Abuse

"300 million sap sap for masteel......Hopefully net cash company."
"7. Low debt among compares to other 3 counter."

you don't have to hope and pray hard for a net cash company
lionind has no debt, already a net cash company..... AND now still cheaper than masteel....



JN88 All mega project will run after April....wakakakaka China steel production no need to futher cut just maintain at this level.

Mega project and high demand will push up the steel price..At least next 4 quarters.

300 million sap sap for masteel......Hopefully net cash company.

30/01/2018 13:09


JN88 Coming 4 quarter:

1. Forex gain good.
2.Demand High.
3.Lower cost from importing material dominated in USD.
4. Increase steel price.
5. Strategies location.
6. Gov project not yet running.(mostly mega project)
7. Low debt among compares to other 3 counter.

More powerful than my Airasia.

30/01/2018 13:04

Posted by JN88 > 2018-01-30 13:52 | Report Abuse

azman123:

Lion share number :718 million vs Masteel 320 million

EPS last Q RM 4 sen, Masteel 12 sen. Good management team.

Pls look back the record of last 5 years for these two company.

I dont like the company that suddenly posted huge net lose like lion.

Hiaptek also same story. Not consistent. Still remember last two quarter Hiaptek post a huge negetive net profit , then come up v a positive net profit.

Boss like to play.

Posted by JN88 > 2018-01-30 13:58 | Report Abuse

Management team very important.

For Asia, Tony wanted to make AA dominated in Asia. That why once 500million net profit must be appear in Q report.

For bad management company once the company earn big .... you will notice the money will go some where which is not tally to the revenue.

Posted by JN88 > 2018-01-30 13:58 | Report Abuse

Invest business like doing business and finding a good business partner.

Lion sorry no way. Hiaptek ....you can join.

Posted by JN88 > 2018-01-30 14:06 | Report Abuse

No dividend from LIONIND even net cash company.

Posted by JN88 > 2018-01-30 14:08 | Report Abuse

A net cash company no even able to pay a single sen dividen but masteel v debt still pay for last year 2016. Sad story for lion investors.

Most problem for Lion and Hiaptek is Lembaga Tabung Haji.

Posted by GG_Liang > 2018-01-30 14:42 | Report Abuse

All in liao

Posted by hng33 > 2018-01-30 15:05 | Report Abuse

The private placement is no 15th and its last tranche already, issue at RM 1.50.

Posted by hng33 > 2018-01-30 15:06 | Report Abuse

Bonus 1 for 3 + better Q result ahead.

Posted by hng33 > 2018-01-30 15:09 | Report Abuse

swap fund from other stock alaqkpj and sdred, bought masteel at 1.63

Posted by SuperPanda > 2018-01-30 15:15 | Report Abuse

@aslm, 2 issues here :

1. Bonus 1:3
2. PP

To calculate after bonus eps/pe effect, must take fix price or TP. Then only can calculate pe.

What u said about price adjusted accordingly is on PP share price 1.502 when release to mrkt and have effect about 1.5 cents drop.

Hope clear my meaning.

Posted by SuperPanda > 2018-01-30 15:17 | Report Abuse

EPS/PE calculation hve 3 variables. No of share, earnings and current price. Any one change will effect the other. This is simple maths.

Posted by hng33 > 2018-01-30 15:20 | Report Abuse

Downside risk is limited, today weakness offer new comer to enter at attractive price 1.63, just in time to capitalize on bonus 1 for 3

Posted by immortallhs > 2018-01-30 15:55 | Report Abuse

Guys, calm, don't panic selling

Posted by SuperPanda > 2018-01-30 16:13 | Report Abuse

If below 1.60 is a must buy

Posted by hng33 > 2018-01-30 16:18 | Report Abuse

Don worry, support volume return