Posted by Alex Chan > 2015-04-29 20:50 | Report Abuse

Patimas

Posted by Alex Chan > 2015-04-29 20:50 | Report Abuse

Breadmaker silver?

Posted by calvintaneng > 2015-04-29 21:10 | Report Abuse

ks55

On this I think I beg to differ. There is a difference between investing with calculated risk and gambling.

The NTA of Masteel is over RM2.40. Its foundries are real unlike Megan Media which are fictitious.

The Directors of Megan Media Sold & Absconded. Masteel Directors chose to exercise 2 million warrants.

The Building Needs of Developing need real steel for many more years to come. Bullet Train to Thailand? East Coast Bullet Train? Future East Malaysia MRT & Bullet Train? All States Future MRT & LRT?

There is no end to Steel Demand.

We Invest with calculated risk. Even if we put money in FD we are also risking it to creeping inflation.

Of course I think not all can or should follow me. Anyway, through the many years I have made lots from Masteel. Buying it with a portion of my profits is a calculated risk. I always invest with a long term view. Whether I will lose all or stand to gain is yet to be seen.

I have always advocated diversification. Buy a basket of prospective stocks.

Say out of 10 one or two might under perform or even delisted but if out of 10 stocks I can get 3 or 4 five to ten baggers why not.

For Masteel I think the positives are far more than the negatives over a longer period.

For short term punting and gambling I cannot tell.

Over a longer term it should rise up out of its present woes with increasingly bright prospects.

Posted by tjhldg > 2015-04-29 21:32 | Report Abuse

thanks calvin :) .. wish for good la ... me is buy buy buy la ...wish ada below 0.60 lagi la...hahahahaahah ..si pek song

Posted by mr x > 2015-04-29 21:35 | Report Abuse

i believe its experiencing just one minor hiccups, the management, to me are made up of fine ppl, dun believe they cook up some false acc that brought up this panic share movement, everyone pushing everyone panic button. it will come back shortly kikikikikikiki

Posted by mr x > 2015-04-29 21:37 | Report Abuse

my view, around 55 should be ok to get it

Posted by Alex Chan > 2015-04-29 21:42 | Report Abuse

What makes you think nta is still there..?

Posted by weng77 > 2015-04-29 23:30 | Report Abuse

I just read the final quarter report end 31 Dec 2014. I wonder is the audited report need more info could be related to reduce inventory by around 50 mil and increased in debtor or receivable by 90 mil in Q4 2014. After checking with Annjoo q4 2013, similar increase of 100 mil debtor or receivable. Is this normal for steel industry has sudden increase of receiveable to clear stock. By comparing inventory of annjoo with more than 1 bil and masteel with around 200mil, it is quite well managed inventory control by Masteel..IMO.

Posted by linjie > 2015-04-29 23:34 | Report Abuse

later alex chan will ask u what make u think the steel still there

Posted by calvintaneng > 2015-04-29 23:35 | Report Abuse

Alex Chan

That is a good question.

Lesson on NTA by Calvin Tan

What is NTA?

NTA Stands for Net Tangible Assets

1) NET tangible assets.

The emphasis is on NET.

To get NET NET you have to get the Sum Total of ALL ASSETS Minus ALL LIABILITIES.

Let's say Mr. Alex own a house worth RM1,000,000. A Merc Benz worth RM250,000 & Other Cash Plus Alll Stuff Worth Another RM250,000

So the Net Assets is RM1.5 millions. Now he has a loan of RM500,000 on the house and also a car loan on the Mercedes for RM100,000

So his Net Net is RM1.5 millions - RM600,000 = RM900,000

That means that Mr. Alex has a Net Net of RM900,000 if the house & car are sold & converted to Cash after paying off all debt.

During the Asian Financial Crisis when house price crashed by 50% & car prices crashed by 70% many are left with Assets below Debt. That means they are under water.

All the Assets if disposed at collapsed value cannot cover debt. That means insolvency & bankruptcy

Question is. Has Masteel any valuable Assets. We will come to that later.

2) net TANGIBLE assets.

The Emphasis here is on the word TANGIBLE. Something you can see with your eyes, touch with your hands. Something visible & Tangible (or touchable). These are REAL STUFF LIKE LANDS, BUILDINGS, MACHINERY OR MOTOR VEHICLES.

3) net tangible ASSETS

Assets are positive. Not liabilities. Assets like Houses & Cars are Real Cash.

Real Cash?

Yes! Cash SOLIDIFICATION.

How?

All of us start in life with a good paying job. Then we buy the first tangible asset like a Perodua Myvi. And after working for some years we buy a house by paying a down payment. (Unless you inherit it)
After a period of many years we finally pay off the loan.

The Cash we used to pay for Car & Housing Loan has NOW TURNED INTO "CASH IN SOLIDIFICATION"

There are convertible to CASH By Selling

The Car is a depreciating asset while the house is an appreciating Asset!

To be continued...

Posted by weng77 > 2015-04-29 23:36 | Report Abuse

I also read about comment for prospect for the following quarter (Q1"2015) at Q4 2014 financial report, they are quite optimistic that following quarter will perform well and 2015 will perform better than 2014 due to capacity increase and infrastructure mrt and government major construction project on track.

Posted by weng77 > 2015-04-29 23:46 | Report Abuse

Masteel was awarded the “BestBrands Award 2012-2013 in Manufacturing – Steel”,
“BestBrands Signature Award 2013-2014 in Manufacturing – Steel”, and Masteel’s
MD/CEO Dato’ Sri Tai Hean Leng was awarded the “Brand Personality Awards 2012-
2013” by The BrandLaureate.
In 2014, Masteel was ranked number 75 in the list of Malaysia’s Top 100 brands
compiled by Brand Finance Plc U.K, valuing the Masteel brand at USD26 million (RM
92.3 million).

Masteel brand value at usd 26 mil, intangible asset but not recorded in balance sheet.

Posted by optimusprime > 2015-04-29 23:48 | Report Abuse

bestbrand are all purchased la.

u still donno.

one of my friend running this biz. yes, brandlaureate. the ceo my old friend la.

Posted by Unbeatable Nick > 2015-04-30 00:02 | Report Abuse

yes confirmed brand laureate awards all purchased one

Posted by calvintaneng > 2015-04-30 00:06 | Report Abuse

THE TANGIBLE ASSETS OF MASTEEL

How to find the REAL TANGIBLE ASSETS OF MASTEEL?

Go to Annual Report for Year 2013 and look up on

List of Properties.

There are 6 properties listed there - 3 factories, 2 offices & 1 bungalow.

From the addresses given you can then trace it.

How?

Best is to get a map & drive there yourself. SEE WITH YOUR OWN EYES.

Next is pick up the phone & call Masteel Office. Every one of them. Are they fake?

Or else get a friend who live nearest to these assets & ask him to take photos & MMS to you.

NTA is Easy to Verify. They Are Tangible & Visible.

Now you will notice that the properties are leasehold & freehold. All were bought between year 2005 to 2009. The Property Boom Started in Earnest from Year 2010 to now.

So by now these properties would have appreciated by 200% to 400% if revalued.

Let's take the most simple one for a case study

There's a freehold bungalow in Port Dickson

Freehold land of 5,403 sq ft (Please refer to 2013 Annual Report)

Land was purchased for only RM65,000 on Sept 30, 2005

How much per sq ft? Divide RM65,000 by 5403 = RM12 psf

That's cheap for a bungalow land near the beach?

Masteel Bosses are Clever!

That's empty land. On further notice you will see that a building is erected on the land.

The cost? Only RM17,000

Wow! that's very cheap!

The steel is made by Masteel & labour cost, cement & others are also very cheap.
In some cases Directors siphon money by inflating invoices to cheat money.

Here we SEE great carefulness in spending company money.

3 Cheers to Masteel Directors! Clap! Clap! Clap!

So Bungalow land of 5,403 (Freehold) & Building only cost us RM82,000

That is still carried at Old Book Value since year 2005.

How much is its worth today?

Can someone from Seremban or PD find out?

Now could someone please help to check on the Value of the Other 5 Masteel Assets? And all other Assets like Machinery & Motor Vehicles, raw material and finished goods to get a clearer picture?

Have a really nice evening,

Calvin Tan

Now in Booming Iskandar

Posted by ks55 > 2015-04-30 00:15 | Report Abuse

Just serve as a reminder.
Remember Transmile? The one with Robert Kuok as major shareholder.
What happened to the stock now?
Many ppl got severely burnt because they trusted Robert Kuok cannot be wrong, and yet forgot that his associates can cheat.

Posted by ks55 > 2015-04-30 00:21 | Report Abuse

Account for Enron can cheat, so any qualified account should be treated with utmost caution.

I will still buy (punt) on this stock, but only if cumulative volume exceed 45m and start to buy at 55 sen and below. If cannot get, just bad luck. I choose not to lose money on this stock.

Posted by calvintaneng > 2015-04-30 00:21 | Report Abuse

Yes ks55

I drove all the way to Subang & viewed Transmile 4 rusty planes there.

When Hwa Tai was traded at RM200 in the GoGo Years before Asian Financial Crisis I drove to Batu Pahat & saw Hwa Thai dilapidated factory which I think is not worth more than 3 lots of Hwa Thai shares then. Each 1,000 shares was a crazy RM200,000

Now can someone verify the assets of Masteel near where you live?

Posted by calvintaneng > 2015-04-30 07:19 | Report Abuse

Rich

Could be one of these reasons

1) Warrant is expiring soon. So he took opportunity to exercise it since he got cash from selling Masteel mother shares earlier

2) Only Masteel Mother share is entitled to dividend, not warrant. So holding mother makes more sense than warrant

3) To create confidence by not dumping warrant in the market at current low prices.

4) Others

To know more see www.masteel.com.my

Posted by rlch > 2015-04-30 07:23 | Report Abuse

Why major shareholder spend RM1.34 million converting his warrants at 67sen this month?

Posted by calvintaneng > 2015-04-30 08:41 | Report Abuse

Questions and doubts? Doubts and more questions?

Last time I bought IQ Group at only 35 cents because I saw the bright future of LED Lights.
Then one day The IQ Boss went to China and started a factory there.
And he kept on sending money and more money to China.

So I was filled with doubts. I suspect that he wanted to siphon money in faraway China.

I cleared my IQ for a profit around 50 cents. And cabut?

Then I was proven wrong. IQ rose up a spectacular 800% from its low.

So much for doubting.

Posted by ah_huat_liao > 2015-04-30 08:52 | Report Abuse

thanks seniors
your insight is valuable
there will always be "crooks" that slip through the cracks
for masteel case, it seems like a good punt, with favourable fundamentals.
have never managed to buy at the low or sell at the high myself. as long as quite close, happy already

still optimistic and going in anyway

Posted by linjie > 2015-04-30 09:19 | Report Abuse

audited report going to announce today

Posted by ah_huat_liao > 2015-04-30 09:24 | Report Abuse

hi linjie, how do u know?

Posted by Alex Chan > 2015-04-30 09:29 | Report Abuse

Either way is a dead end.

No point chasing
Big loss or suspension

Posted by legend > 2015-04-30 09:36 | Report Abuse

kita sudah miskin...lagi kena trap...tambah miskin lo..haha

Posted by weng77 > 2015-04-30 09:42 | Report Abuse

A good management team will plan for future and growth of the company like expansion and new project. if the management want the company in bad shape they wont waste so much time doing all this work instead plan how to dig money out from there. Exercised of the warrants mean also pump in money to the company and increase their holding of the company too and show confident to the company future and prospects. IMO

Posted by Lim Ker Ming > 2015-04-30 09:48 | Report Abuse

calvintaneng: now have what share can buy?yesterday i sell all my masteel share , lose around million , before that i buy 1.400

Posted by ah_huat_liao > 2015-04-30 09:54 | Report Abuse

Agreed with Calvin, legend and weng...

we are not talking about putting whole fortune into the stock...

buy within your holding power and if negative, buy what u can lose...

just saying that if risk too big, better put in FD. get better sleep at night

Posted by tanbb > 2015-04-30 09:55 | Report Abuse

lol...lost million..you willing to do so? hmm..

Posted by ah_huat_liao > 2015-04-30 10:05 | Report Abuse

sigh... Mr Lim and Tan, so sorry to hear about your lost... it is not a small amount i must say...

i can feel your pain, as i lost about that in usd in 2008... but we come back...

Posted by Lucas Tay > 2015-04-30 10:11 | Report Abuse

ker ming u lose around million??

Posted by i3i2i1 > 2015-04-30 10:20 | Report Abuse

push back?

Posted by ks55 > 2015-04-30 10:23 | Report Abuse

ks55 -- Cannot stand 5% loss? Try out with REITs.

Let suppose you have 1m cash asset (Share, FD, Bonds, Treasury bills, SA etc excluding EPF). How much risk you can take?

Some people can stand up to 50% loses (if they are still young <35 yr old)
Some people can only stand up to 20% loses. (may be for 40 -50 yr old)
Some may be 10%, or 5%. (Retired or near to retirement >50 yr old)
It is really depends on your degree of tolerance.

Some may be young, but they have low degree of tolerance. Their temper will fluctuate with market performance. Market good, they got excited. Market down, they will not be able to sleep. This will affect their job performance.

My advice is, if you invest up to 500k, you find that your temper already being jeopardized, reduce to 400k. If still find hard to sleep, reduce further to 300k, 200k,100k etc. There should come to a level whether market up or down doesn't affect performance of your main career anymore. That is your tolerance level.

Some may have 1m cash asset, but not able to stand a 5k loses. These people are not risk taker, share market is definitely not suitable for them. REITs may be most suitable for them as it is low risk with medium gain. Otherwise will be FD or MGS.

Again a word of caution. Don't commit 100% of your cash asset in share market. Always keep some for rainy days. Worse still if you try to buy on margin in this coming turbulence market.

Think safe, play safe, invest safe. If want to punt, punt safe.
18/03/2015 23:19

Posted by ah_huat_liao > 2015-04-30 10:31 | Report Abuse

great advice ks55!
always bring what u can afford into a casino... leave credit card, bank card at home...
dun think u can beat the market... just go with the flow of the market.
if u have holding power, lagi better

Posted by cckkpr > 2015-04-30 10:37 | Report Abuse

Normally, when the December quarter results are announced in Feb, 2015, the audited accounts for the year ended December 31,2014 would have been substantially finalised and normally no variations with the unaudited results. Though variations less than 10% are allowable, such things rarely happen as it reflects badly on management and its competency. The very fact that more than 2 months after the last quarter results were released and yet the audited accounts cannot be finalised point to a material disagreement. Other companies with similar year end are already sending out notices holding their AGMs and yet Masteel cant even finalise their accounts. If there are institutional funds holding shares, they will surely unload and move on.

Posted by ah_huat_liao > 2015-04-30 10:57 | Report Abuse

agreed cckkpr. how can we buy at a discount??

that is why, we only buy when there is panic selling.... not sell... just my 2-cents

Find my research below,
MASTEEL
22 Sep 2006 - Low $0.54
14 May 2008 - High $1.59
17 Oct 2008 - Low $0.55
12 Apr 2012 - High $1.53
29 Apr 2015 - Low $0.59

Posted by stevenlcw > 2015-04-30 13:02 | Report Abuse

Not sure if now buy in will it rise back to 0.8?

Posted by The One > 2015-04-30 13:18 | Report Abuse

I think in there will be another selldown in the 2nd session today and maybe the final before the long holidays. Next week there maybe a technical rebound. Just my guts feeling. Fundamental rebound may not happen yet till the audited reports materialise.. but depends on the actual results. Monitor and trade with care. Gudluck everyone.

Posted by Alex Chan > 2015-04-30 14:04 | Report Abuse

Yes...
Increase in non collectables?
Provision in bad debts debatable?

Posted by rlch > 2015-04-30 14:06 | Report Abuse

Agree with The One. Upside cap at 67sen(warrant exercise price) while waiting for annual audited account to be released.

Posted by i3i2i1 > 2015-04-30 14:09 | Report Abuse

rlch, you can short?

Posted by The One > 2015-04-30 15:38 | Report Abuse

Hmm.. I did asked a professional query to an accountant from Kpmg who is doing some tasks at my company. She said.. according to her experience.. when an audited account is delayed.. usually it will be bad. Just sharing only..

Posted by Alex Chan > 2015-04-30 15:44 | Report Abuse

Agree..
Only question is big hole or small hole...

Posted by rlch > 2015-04-30 15:46 | Report Abuse

Posted by ks55 > Apr 29, 2015 03:47 PM | 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.

Please judge whether ks55 can be trusted.

Posted by calvintaneng > 2015-04-30 15:47 | Report Abuse

See from Insider Angle

They KNOW MORE THAN ALL OF US

If they choose to exercise Warrants at 67 cents they are fools to throw money away


Why not just sell the warrants in open market?

So SEE from THEIR ANGLE

Posted by yongyou > 2015-04-30 15:49 | Report Abuse

Bro calvintaneng, u r here now? How's UEMS?

Posted by Alex Chan > 2015-04-30 15:53 | Report Abuse

Maybe before discovered?

Posted by calvintaneng > 2015-04-30 15:59 | Report Abuse

Yongyou

Collect UEMS slowly on weakness. High Speed Rail should benefit both UEMS and Mulpha Leisure Farm

Posted by yongyou > 2015-04-30 16:08 | Report Abuse

Thanks Bro, I Q at 1.20; hopefully can get it...

" Posted by calvintaneng > Apr 30, 2015 03:59 PM | Report Abuse

Yongyou

Collect UEMS slowly on weakness. High Speed Rail should benefit both UEMS and Mulpha Leisure Farm
"