Posted by tecpower > 2018-05-25 23:08 | Report Abuse

The Group reported a profit before tax of RM19.97 million on the revenue of RM434.80 million
for the current quarter compared to a profit before tax of RM17.68 million on the revenue of
RM348.72 million for the previous year corresponding quarter. The increase in revenue and profit
in current quarter were mainly attributed to higher selling price and higher volume due to
strengthening of local steel price and stronger domestic demand. The forex gain in the current
quarter has also contributed to the higher profit before tax.

Posted by Remisier > 2018-05-25 23:16 | Report Abuse

The actual gain for this quarter is just around 9 mils. One off gain is > 8 mils. Base on profit just around 9 mils, the profit is actually lower than other quarters. Please read carefully the quarter result.

Posted by VincentTang > 2018-05-25 23:21 | Report Abuse

If like that Monday Masteel will be 60 cents

Posted by tecpower > 2018-05-25 23:21 | Report Abuse

How much is one off gains?

Posted by tecpower > 2018-05-25 23:27 | Report Abuse

They did not mention anything about one off gains in the QR. Are you telling a lie?

Posted by Shernius > 2018-05-25 23:35 | Report Abuse

Lai liao after qr report out all sifus jumped out.. Lol

Posted by tecpower > 2018-05-25 23:41 | Report Abuse

Don't lie.

Posted by Remisier > 2018-05-25 23:48 | Report Abuse

One off gain >8 mils are from >7mils forex gain and impairment reversal >1mils. Total one off gain >8 mils. So actual profit just around 9 mils.

Posted by tecpower > 2018-05-26 00:17 | Report Abuse

Forex gain is not called one off gain. Haha Remisier = Outliar ?

Posted by Yong Hui Lee > 2018-05-26 00:20 | Report Abuse

Anyone can verify what remisier said as i am unable to view the full report on my phone. For one off gain like q317 the PAT is higher than PBT. But for this scenario it is not. Seems normal to me

Posted by tecpower > 2018-05-26 00:45 | Report Abuse

gross profit 30,232K
profit before tax 19,972K
Unrealised foreign exchange gain 1.960K
Realised foreign exchange gain 5,190K

Posted by tecpower > 2018-05-26 00:55 | Report Abuse

You should know that higher selling price and higher volume also contributed to more foreign exchange gain.

Posted by probability > 2018-05-26 00:59 | Report Abuse

Annjoo EPS is at least 5 x times higher than Masteel's core EPS.

Further to that, Annjoo' net profit margin is 10% versus 2% for Masteel at core level...

...meaning its 5 times more resilient - insulated with 5 more layers of clothes for winter condition if at all it comes.

Posted by tecpower > 2018-05-26 01:01 | Report Abuse

Unrealised and realised foreign exchange gain accounts for 23.65% of the gross profit.

Posted by probability > 2018-05-26 01:01 | Report Abuse

while preparing for winter or summer...annjoo pays you 50% of what it earns so that you can do whatever you like with it.

Posted by tecpower > 2018-05-26 01:06 | Report Abuse

Foreign exchange gain is part of a core gain.Why? If you sell a thing at MYR 2.00 instead of MYR 1.00, the forex gain will be double.

Posted by Yong Hui Lee > 2018-05-26 04:19 | Report Abuse

Accounting noob here. However, i did a little reading which led me to believe that this foreign exchange gain is part of core business.

https://bizfluent.com/about-6630414-foreign-exchange-gains-losses-reported-.html

I think the forex gain is likely due to entering a transaction to purchase for raw materials in USD at a earlier time. But when they decide to pay to finish the transaction, ringgit has strengthened against the USD. Hence the foreign exchange gain.

This gain will lead to a lower cost of sales. Which is why i believe it is all part of operational profits. Correct me if i am wrong? @probability @tecpower

Posted by Yong Hui Lee > 2018-05-26 04:20 | Report Abuse

@remisier @outliar

Posted by Poisonivy > 2018-05-26 07:50 | Report Abuse

Result Normal future uncertainty haizzz another downfall soon

Posted by tecpower > 2018-05-26 09:43 | Report Abuse

It's meaningless just to see how good a quarter report is.If the stock price has been already high, it will not go up no matter how good the QR is. In contrast, if the stock price has been already low, it will go up no matter how bad the QR is.

Posted by tecpower > 2018-05-26 10:20 | Report Abuse

Its revenue increased from 348,723K to 434,802K YoY.Its revenue increased from 422,325K to 434,802QoQ. Not bad at all.

Posted by tecpower > 2018-05-26 10:33 | Report Abuse

Contrary to what someone here told about, their business has been expanding.

Posted by Fergus Chong > 2018-05-26 10:39 | Report Abuse

tecpower It's meaningless just to see how good a quarter report is.If the stock price has been already high, it will not go up no matter how good the QR is. In contrast, if the stock price has been already low, it will go up no matter how bad the QR is.

Agree

Posted by Henly > 2018-05-26 11:45 | Report Abuse

Forex gain is not one off gain, is a profit because of lower material cost from importation.
The result is fantastic. TP 1.6 achievable.

Posted by xgakuseix > 2018-05-26 12:21 | Report Abuse

Price dropped due to steel tariff sentiments.
This counter has nothing to do with that.

Just buy and thank to me later.

Posted by Stock Kingdom > 2018-05-26 18:06 | Report Abuse

Good result

Posted by csl1991 > 2018-05-26 20:33 | Report Abuse

Agree with tecpower. The relationship between share price and quarterly result is not how bad or how good the result is, but rather how it is against market expectation. If market expects 200% and result is 100% it will plunge. If market expects -200% but 10% up, share price will go up.

Posted by Jason Chan > 2018-05-27 00:54 | Report Abuse

Wow... just read the quarter report... such a low earning margin , n some of the profit r from forex gain from the last qr only, monday good luck to you all ~~~

Posted by Yong Hui Lee > 2018-05-27 02:13 | Report Abuse

I sense somebody up there trying to sabotage. Must be somebody that sold the steel stocks before QR and regretting as hell hahahahha

Posted by Yong Hui Lee > 2018-05-27 02:19 | Report Abuse

I thought jason chan already read the report on the 25th, why pretend to “just read” again just to troll? My god.. get a life

Posted by stock_investor > 2018-05-27 10:05 | Report Abuse

actually what written by remisier was 100% correct... dont let the figure fools your eyes...

Posted by tecpower > 2018-05-27 10:22 | Report Abuse

Remisier = stock_investor haha

stock_investor wrote something about ssteel in one of only his two posts. Remisier has ssteel shares.

Posted by stock_investor > 2018-05-27 10:25 | Report Abuse

dont be silly... pls look at the account urself ... reminsier is not me... u will know the share price tomorrow.. wan bet with me? or else get loss from here

Posted by tecpower > 2018-05-27 10:54 | Report Abuse

stock_investor,

Their profibitability is determined mainly by the volume they sell, their selling price and foreign exchange rates.

They wrote the current quarter were mainly attributed to higher selling prices and higher volume.
That means their business has been expanding.

You just saw a small fraction, You did not see the big picture.


.The Group reported a profit before tax of RM19.97 million on the revenue of RM434.80 million
for the current quarter compared to a profit before tax of RM17.68 million on the revenue of
RM348.72 million for the previous year corresponding quarter. The increase in revenue and profit
in current quarter were mainly attributed to higher selling price and higher volume due to
strengthening of local steel price and stronger domestic demand. The forex gain in the current
quarter has also contributed to the higher profit before tax.

Posted by tecpower > 2018-05-27 11:03 | Report Abuse

Nobody will support your arguments except for your imposters.

Posted by stock_investor > 2018-05-27 11:06 | Report Abuse

tai lou, look properly lar... u dont know accounting .. the qr result means to traumatise ppl like u ... 19.97 m got reversal of impairment and forex gain...

Posted by tecpower > 2018-05-27 11:08 | Report Abuse

You are not smart enough to see the big picture.

Posted by mjlee > 2018-05-27 12:36 | Report Abuse

shhhh. just wait on Monday and see how's Mr market react

Posted by skyjet > 2018-05-27 13:09 | Report Abuse

What Remisier and stock_investor said are correct.

Watch link as below in Masteel section(9.50 to 11.50) especially tecpower and Yong Hui Lee must watch this.
https://www.facebook.com/harryteotybjb/videos/2065779186967133/

Posted by tecpower > 2018-05-27 13:53 | Report Abuse

The current price is on the level the stock hit in September 2017.


25-May-2018 31-Mar-2018 434,802 (revenue) 17,722 (net profit)
24-Aug-2017 30-Jun-2017 290,764 (revenue) 10,589 (net profit)

Posted by Yong Hui Lee > 2018-05-27 14:03 | Report Abuse

@skyjet hi, i have just watched the video. But he is just repeating what remiscier said without explaining deeper about forex gain. Besides, is he a professional stock analyst? Please refer to my comment below, kindly let me know if my understanding of forex gain is incorrect

Accounting noob here. However, i did a little reading which led me to believe that this foreign exchange gain is part of core business.

https://bizfluent.com/about-6630414-foreign-exchange-gains-losses-reported-.html

I think the forex gain is likely due to entering a transaction to purchase for raw materials in USD at a earlier time. But when they decide to pay to finish the transaction, ringgit has strengthened against the USD. Hence the foreign exchange gain.

This gain will lead to a lower cost of sales. Which is why i believe it is all part of operational profits. Correct me if i am wron

Posted by Yong Hui Lee > 2018-05-27 14:05 | Report Abuse

Any accountants here feel free to explain if forex gain is a one off gain or part of gross profit (mainly cost or sales) would be appreciated

Posted by tecpower > 2018-05-27 14:10 | Report Abuse

They may be the same person misleading investors.

Posted by Yong Hui Lee > 2018-05-27 14:14 | Report Abuse

I just hope somebody with deeper understanding to clarify .. now it is just random people coming out to monkey see monkey do. No intellectual talk.

Posted by tecpower > 2018-05-27 14:22 | Report Abuse

The company informed us that profit in current quarter were mainly attributed to higher selling price and higher volume. It expalins 70% of their expanding business. You can check details of their QR, but don't fail to see the whole picture.

Posted by Yong Hui Lee > 2018-05-27 14:26 | Report Abuse

I agree that reversal of impairment loss of 1M+ is not part of operating profit.

But if this forex gain of 7M + is for purchasing of raw materials in USD ( which is a recurring transaction) . Than i think it should be part of operating profit . @skyjet @stock_investor

Any thoughts?

Posted by Lulu La > 2018-05-27 14:26 | Report Abuse

what is the whole pic?

Posted by tecpower > 2018-05-27 14:39 | Report Abuse

If you pick up a small fraction, analyse it and find something against the whole picture, that mean your analytical skills are poor.

Posted by Yong Hui Lee > 2018-05-27 14:45 | Report Abuse

Forex gain = purchase cheaper = profit higher

I dont understand their argument. They are just pointing out without explainiing

Posted by kevin008 > 2018-05-27 17:15 | Report Abuse

https://m.facebook.com/story.php?story_fbid=2144117785808275&id=2017748508445204