Posted by yanxuan8 > 2015-04-28 18:21 | Report Abuse

How to compare PERWAJA with MASTEEL???

Posted by The One > 2015-04-28 18:25 | Report Abuse

Thats what I was wondering too.. ??

Posted by EARS > 2015-04-28 18:49 | Report Abuse

Which ear is correct?

Posted by Taugeh > 2015-04-28 22:21 | Report Abuse

all the while no volume, how come all of sudden 18 mil? anybody?

Posted by Taugeh > 2015-04-28 22:29 | Report Abuse

I would like to remain optimistic pertaining to the local market tomorrow; however, Europe & US are all in red at the moment, any advice?

Posted by tjhldg > 2015-04-28 22:41 | Report Abuse

hahah ... thanks calvin :) .. rasa below 70 buy buy buy la ...esok tambah lagi ...hahahahah ... thanks ya

Posted by Taugeh > 2015-04-28 22:41 | Report Abuse

thanks and best regards, rich...

Posted by sengkee > 2015-04-28 22:51 | Report Abuse

Taugeh, don't worry. Market will rebound tomorrow. PM just said that he will never surrender. No political instability at the moment

Posted by Taugeh > 2015-04-28 23:33 | Report Abuse

OIC, thanks SK..

Posted by Alex Chan > 2015-04-28 23:46 | Report Abuse

Maybe one of the director is selling....

Posted by beso > 2015-04-29 00:03 | Report Abuse

this counter no dividend at all, may enter pn17 also, ppls are rushing out

Posted by Alex Chan > 2015-04-29 00:09 | Report Abuse

Fortune favors the brave or
The foolhardy die young...
Which is which?

Posted by bearguy > 2015-04-29 11:34 | Report Abuse

2,000,000 shares exercised at 67 cents for Masteel is early of april. It take 2 weeks to complete the whole conversion. So when the delay of AFS annouced to public, they can dump the mother shares before hand. they knew the warrant gonna GG case.

is easier for them compare to dump 2,000,000 warrant thru open market.

Posted by linjie > 2015-04-29 11:38 | Report Abuse

when they dump any share, they need to make announcement, but I don't see any

Posted by bearguy > 2015-04-29 12:12 | Report Abuse

shall see 3 days later

Posted by bearguy > 2015-04-29 12:13 | Report Abuse

im trapped in warrant. out of idea what to do now. it expiring soon

Posted by The One > 2015-04-29 13:21 | Report Abuse

Wow.. Masteel has dropped more than 30% since hovering near 0.90 and above for the past 1 year and yesterday's volume was the highest ever (18x the avg) and yet wondering why no UMA was issued? To be fair, the public should be informed of any material news.. and Bursa is responsible to ensure this being done.. which is lacking at the moment. Condolence to many people who have been trapped and mainly clueless of what has happened. Gudluck.

Posted by rlch > 2015-04-29 13:26 | Report Abuse

Today price is lowest for past 5 years based on i3 price chart.
http://klse.i3investor.com/servlets/stk/chart/5098.jsp

Posted by Hustle > 2015-04-29 13:49 | Report Abuse

CSL return but M'sia version...Omg

Posted by The One > 2015-04-29 13:53 | Report Abuse

Will the audited report be so bad compared to the unaudited one.. thats why the delay? Hmm.. if true.. then its not good and unfair to the general public whereby the insiders have the upper hands. Bursa.. pls do your job.. and dont tell us that our bourse also corrupted!!!

Posted by Hustle > 2015-04-29 14:01 | Report Abuse

within 2 days you might see lots of director dispose announcement published, especially that exercise the warrant one

Posted by tanbb > 2015-04-29 14:53 | Report Abuse

pants drop so fast...

Posted by beso > 2015-04-29 14:57 | Report Abuse

warrant will be expired in oct15 expect to subpress further

Posted by ckuanglim > 2015-04-29 14:59 | Report Abuse

going below 0.6 soon?

Posted by rlch > 2015-04-29 15:07 | Report Abuse

If they dispose mother today after convert warrant director will lose money.

Posted by tanbb > 2015-04-29 15:14 | Report Abuse

drop pants now..

Posted by MisterSY > 2015-04-29 15:17 | Report Abuse

cannot buy still?

Posted by tanbb > 2015-04-29 15:20 | Report Abuse

is cheap like shit...

Posted by Alex Chan > 2015-04-29 15:24 | Report Abuse

So many other shares......
Potential suspension forever

Posted by ks55 > 2015-04-29 15:42 | Report Abuse

Looks like price prospect is not good. After issuing warning, there is not much volume for yesterday (18.5m) and today (8m).Total pledged share 31m. Some more down side.

Posted by ks55 > 2015-04-29 15:47 | Report Abuse

Be careful

Those contra players who bought yesterday and this morning yet to unload. This may depress share price further till 50 sen and below.

Posted by ks55 > 2015-04-29 16:03 | Report Abuse

To catch the falling knife, wait till cumulative volume reach 45m, then start to buy downwards at every one down. You may be able to get starting 55 sen all the way down......

Again, cumulative volume 45m starting 28 Apr 2015 for next 0ne to three days....

Think safe...Punt safe...........

Posted by linjie > 2015-04-29 16:38 | Report Abuse

punt punt time

Posted by Alex Chan > 2015-04-29 16:52 | Report Abuse

Circa 11 million shares dumped
Something wrong...

Posted by linjie > 2015-04-29 16:55 | Report Abuse

total 28 mill share since yesterday which equal 8.7% of total volumn

Posted by benbeh87 > 2015-04-29 17:02 | Report Abuse

something wrong

Posted by rlch > 2015-04-29 17:10 | Report Abuse

Bottommed out at 59sen today?

Posted by ah_huat_liao > 2015-04-29 17:21 | Report Abuse

can someone advise if there is bad news for this counter? why the sudden sell-down?

Posted by beso > 2015-04-29 17:33 | Report Abuse

company may not be able to submit its audited account thus might fall into pn17 club so sell down will likely continue better don't touch now

Posted by The One > 2015-04-29 17:42 | Report Abuse

Mostly due to panic sell coz by the delay in the audited accounts submission, the steel industry as a whole and the weak market sentiments. But I think the huge selldown maybe softened based on the ending today. Gudluck everyone.

Posted by i3i2i1 > 2015-04-29 17:45 | Report Abuse

only because audit account cause this bad? when QR? sure got info ma right?

Posted by Johnnys > 2015-04-29 18:47 | Report Abuse

is not fall into pn17, is delist

Posted by ah_huat_liao > 2015-04-29 18:56 | Report Abuse

But announcement in Bursa state they will file by mid-May 2015:

The Board of Directors of MASTEEL wishes to announce that the issuance of AFS 2014 will be delayed as the External Auditors requires more information to complete its audit and the Company wishes to provide more time for the External Auditors to complete the AFS 2014. The Company is working with the External Auditors to finalise the audit expeditiously.

The Company expects its AFS 2014 on or before 11 May 2015, although the Company is working towards the deadline on 30 April 2015.

Pursuant to paragraph 9.28(5) of the MMLR, if the Company fails to issue the outstanding AFS 2014 within five (5) market days after the expiry of the Relevant Timeframe, in addition to any enforcement action that Bursa Securities may take, Bursa Securities shall suspend trading in securities of the Company on 12 May 2015 and will be lifted on the market day following the issuance of the outstanding AFS 2014 unless otherwise determined by Bursa Securities.


If over-reaction... got chance to recover??

Posted by ah_huat_liao > 2015-04-29 18:59 | Report Abuse

Because, not often we get stock so far below normal price.... just very curious if this is what buffet means by psychotic market...

Posted by linjie > 2015-04-29 19:32 | Report Abuse

even masteel is bankrupt, NTA worth more than RM2 per piece, why so panic

Posted by calvintaneng > 2015-04-29 19:45 | Report Abuse

Good Evening

It has been 2 days of roller coaster prices for Masteel.

I have been in Masteel on and off for several years already.

These are my personal opinions

Its Salient Factors

1) Masteel is the most profitable Long Steel Players in Malaysia. The other 2 are Southern Steel & Annjoo Steel.

There are 2 Types of Steel Players in Malaysia. Long Steel & Flat Steel

Flat Steel Players are Mycron, Choo Bee & others.

Long Steel is Used In The Manufacture of Beams for MRT Pillars. So The Increase in MRT, LRT, Monorail & High Speed Rail Augur Well for Masteel & Southern Steel. Also the Mushrooming of High Rise Condo & Houses in Iskandar Require Lots of Long Steel. I bought & used long steel bars before in my construction job. They cost between RM2,100 to RM2,200 per ton weight.

Flat Steel, as the name denotes, is used as Refrigerator door, car bonnet, door and booth and all things flat.

2) Steel Companies have high borrowing as a whole. However, Masteel is wise to Give Rights Issue to raise capital. So its gearing is less than all other Steel Players. This is a wise move.

3) As Cost of iron ore has crashed 75% & scrap metal iron also dropped in price Masteel will stand to benefit

4) With the Drop of Ron95 & Diesel Masteel will also save lots of money from transport cost

5) The lower cost of electricity & coal also augur well for Masteel

6) Masteel recently activated a New Steel Mill For Increased Production to meet higher demand from Greater KL Mrt Expansion. This has increased the economy of scale for Masteel. The more you produce the cheaper is your average cost.

7) As Ringgit has crashed against renminbi the incentive to import lower quality cheap steel from China is now neutralized.
Malaysia Steel is of Higher Quality.

8) His Royal Highness The Sultan of Johor has indicated that Forest City of Pendas, Johor will be served by Mono Rail.

This reveals to us that the Masteel-KUB Consortium for Iskandar Rail Net Work might yet proceed some day.

9) The Next Agenda for Malaysia - Spore Win-Win Partnership will be The
HIGH SPEED BULLET TRAIN FROM KL TO SINGAPORE. So Masteel stand to receive increasing orders in coming years.

10) By 21st May 2015 Malaysia Will Announce its Next 5 Year plan for 2016 to 2021. The finality of all finality before Vision 2020 Will Be A WHOPPING RM250 BILLION ALLOTMENT OF MASSIVE PROJECTS. Again Lots of Long Steel will be needed

11) Director has recently exercised 2 million (3/4/2015) Masteel Warrants at the conversion price of 67 cents. They should have 1st Hand Knowledge of the actual status of Masteel Accounts

Let's see. 2 million at 67 cents = RM1.34 Millions.

If Masteel is truly in deep trouble they would not have thrown in TM1.34 millions to convert the warrants. Like many cheating directors (Magan Media for example) they would have dumped all their shares and absconded

So this act indicates hope for the Company.

However, since we still do not have 100% clarity until all is revealed I think you all have to do your own due diligence.

This could be a Great Opportunity to buy in crisis. Or it could also lead to PN17 & prolonged uncertainty.

Please do not blame me if you get into trouble. If you make I won't get a cent. So the decision and responsibility lies with each individual

As for me I have started buying.

Best Regards,

Calvin Tan Research

Now in Booming Iskandar.

Posted by The One > 2015-04-29 19:45 | Report Abuse

Any chances to cause panic are "fruits" for the market makers.. ;)

Posted by ah_huat_liao > 2015-04-29 19:54 | Report Abuse

Wow Calvin, many thanks!
Your detailed information is very useful.
In the mid-term, this counter could potentially fly... this may be an opportunity to collect cautiously... there are potential traders in the last 2 days as well.
This last announcement provides good opportunity to short the way down... having said that, if the company make announcement by 11th May or better still tomorrow then the recovery could be quite amazing too.
Am leaning on the more optimistic side now...
Fingers crossed

Posted by ks55 > 2015-04-29 19:57 | Report Abuse

Unable to provide timely audited report itself already enough to scare off buyers.

Do you think report to be good? Can the auditor gives qualified auditors' report? What does a qualified auditors' report means to an investor? Integrity of account is doubtful !!

Anyway, buying now is amount to gaming. How you punt will determine whether you will make money on this counter this round.

Posted by ah_huat_liao > 2015-04-29 20:08 | Report Abuse

true ks55...
has there been another company that has delay in issuing accts... and went back up recently?
and another example that delay and dropped to peanuts?
thank you in advance.

actually, i agree that the stock market is somewhat of a casino... in fact biggest online casino... as investor can only hope that the management, auditors etc make nothing but the truth statement... just my 2-cents...