Posted by s2015 > 2015-05-06 22:26 | Report Abuse

cannot run the business!

Posted by ks55 > 2015-05-06 22:50 | Report Abuse

Just curious under what circumstances margin call is effected?
If can not top-up, what can happen?

Posted by goldenhorn > 2015-05-06 22:54 | Report Abuse

We all shareholders have 3 choice now, if we are over worried, cut loss now, if we are still confident with the company fundamental, hold the stocks and pray for miracle. If we are uncertain, cut loss 50%, and hold 50%. Indeed, this counter is the most painful and dissapointing experience for me

Posted by r°Moi > 2015-05-07 08:16 | Report Abuse

Calvintaneng has posted on why MASteel is not the same as those other companies with the word STEEL in their names

Calvin... you want to explain that again???

Posted by balvin71 > 2015-05-07 08:31 | Report Abuse

I have cut my losses yesterday. Too much uncertainty. Will wait and see before deciding weather to go back in. First time loss so much in a stock. Like many others, feel cheated and wonder why only at the last minute the auditor cannot qualify the audited statement. Shouldn't they have indicated something earlier? Additionally, based on quarterly financial report thing look good but financials could be manipulated.

Posted by rlch > 2015-05-07 08:33 | Report Abuse

Still no news of Tai(major shareholder) selling. Recent slide not caused by him?

Posted by luckyoldman > 2015-05-07 09:15 | Report Abuse

Masteel must initiate share buy back now to calm the nerve of investors if there is nothing wrong with the fundamental of the company

Posted by goldenhorn > 2015-05-07 09:47 | Report Abuse

low volume today, all contra players already left and killed yesterday? I have check with a friend whom work in a steel company, he heard that Masteel is the only steel company among peers which is still making profit. Unfortunately due to uncertainty beyond control, I never know what price will Masteel bottom at. I have also cut loss 20%.

Posted by weng77 > 2015-05-07 10:08 | Report Abuse

Reading the Annjoo report could have better picture about steel industry with figures and fact support. Local steel price tumble in 2014 and dumping steel from China increase significantly.

http://www.annjoo.com.my/investor-relations/latest-news/

Commments from Masteel about the steel industry demand and prospect seem like quite optimistic and deviated from overall market condition. It could be Masteel very efficient, well manage and resilient to tumble of steel price with good cost control.

As per FY 2013 report chairman comment about the china imported steel failed to make significant headway to domestic market with import quantity remain low but there is huge jump in import quantity Steel in 2013 unless the Masteel's bar is different from imported steel bar.
It could be MRT project and local construction at Klang valley help to absorb a lot of Steel demand. Outside malaysia Revenue for Masteel reduce from ~ 8% in 2013 to ~ 2% in 2014. The revenue figure showed that export business is reduced and it is offset by strong local demand for steel.

Posted by AlexanderJin > 2015-05-07 10:38 | Report Abuse

will the suspension of this share affect the inter-city rail transit system project in Iskandar with KUB?

Posted by rlch > 2015-05-07 10:56 | Report Abuse

Perhaps Tai should buy Masteel from open market and not exercise warrant to instill confident.

Posted by AlexanderJin > 2015-05-07 10:58 | Report Abuse

Price is moving , maybe he is buying?

Posted by tanbb > 2015-05-07 12:04 | Report Abuse

i wonder why masteel doing now..
price drop like shit also no care..

Posted by r°Moi > 2015-05-07 12:18 | Report Abuse

Veteran Calvintaneng burnt all his fingers here too??

He asked for those concerned to go look see look see at the factory what's up......

Posted by rlch > 2015-05-07 12:22 | Report Abuse

Why Public Invest still maintain TP at RM1.10?

Posted by rlch > 2015-05-07 12:28 | Report Abuse

Many i3 forummers said Public Mutual are among the best unit trust companies in M'sia. Why when come to their research many do not follow?

Posted by RedEmperor > 2015-05-07 12:32 | Report Abuse

Masteel is fundamentally very strong. Current price drop has nothing to do with the company's performance. Once the 2014 account is filed, you will see price heading up!!

Posted by matakuda > 2015-05-07 12:34 | Report Abuse

The warrants near expiry, which means the mother price must be maintained above the striking price or the warrants will be reduced to dusts.

As per the Annual Report, the warrants are substantially held by directors. To avoid papers-turn-into-dust scenario, the books were cooked and creative accounting were practised.

Steel manufacturing is a volume game. Big taiko all lost money due to gruelling competitions. This tiny Masteel seems able to turn the tide. This warranted investigation, and the auditors did not want to let go.

Disclaimer: The above is purely my imagination. Don't take it seriously.

Posted by RedEmperor > 2015-05-07 12:42 | Report Abuse

If Taiko Tai is watching, please come out to clarify!!!

Posted by goldenhorn > 2015-05-07 13:35 | Report Abuse

Taiko Tai busy with the external auditors and special external auditors, no time to show face

Posted by ah_huat_liao > 2015-05-07 15:11 | Report Abuse

Boss already delegated work to Special Audit team. They just try to clean up during this 6 weeks and report accordingly.
Question is why assign a local special audit team if there are a couple of top audit firm?
For those hopeful, wish you well...
Dropping is always faster than price rising... Law Of Gravity.
Remember the price u bought, it gets harder to recover your principle as price goes lower...

Posted by samcghee > 2015-05-07 15:12 | Report Abuse

Taiko Tai now headache. Financial dept should take initiative to resolve with auditor at early stage. See the effect of delay. Now everybody headache especially shareholder like us.Who is the cause of this problem? I believe Taiko Tai know it.

Posted by samcghee > 2015-05-07 15:13 | Report Abuse

We just teka-teki?

Posted by samcghee > 2015-05-07 15:14 | Report Abuse

How many day masteel is going to suspended? Is it on 12 May 2015?

Posted by goldenhorn > 2015-05-07 15:20 | Report Abuse

11 May if Masteel cannot produce report, suspend on 12May.

Posted by goldenhorn > 2015-05-07 15:21 | Report Abuse

but is expected. since Masteel request to extend till end of June

Posted by rlch > 2015-05-07 15:25 | Report Abuse

If confirm extend until end June why Masteel still not suspend? Meaning still got hope to complete before May 12?

Posted by samcghee > 2015-05-07 15:28 | Report Abuse

The price of masteel is really very cheap now. Plan to observe the price before buying.

Posted by ah_huat_liao > 2015-05-07 15:33 | Report Abuse

Look at the price movement dear all.
Always playing on investors/traders sense of Greed...
Give hope of rising than let it drop each day...
Good news drop, no news also drop then bad news... berak non-stop!

If big guys really buying now, why heading south...

When it becomes 5 cents or 10 cents... every 10 cents rise is 100%...

Guys, have faith that pro-Masteel prophets here and esteemed management are acting on shareholder's best interests... have Faith.

All the best to you

Posted by ah_huat_liao > 2015-05-07 15:33 | Report Abuse

See the closing price today...

Posted by ah_huat_liao > 2015-05-07 15:34 | Report Abuse

See the "rising" volume as our hope "rises"

Posted by rlch > 2015-05-07 15:50 | Report Abuse

ah_huat_liao Masteel 5 sen, 10 sen are you dreaming? Who want to sell so low? Why Tai spend RM 1.34 million converting warrants at 67sen last month?

Posted by AlexanderJin > 2015-05-07 15:54 | Report Abuse

Another person who converted 2mil warrant last month is NG PIK LIAN , but i couldn't find her name on share holder list...http://www.bursamalaysia.com/market/listed-companies/company-announcements/4712317...apparently the registered address is same as Tai's company TYY Resources Sdn Bhd.

Posted by bearguy > 2015-05-07 16:18 | Report Abuse

rlch, your being too optimistic. It has to suspend on 12 of May because is by bursa rules. That is the max extension. And they exercise the warrant becoz the warrant is worthless in few months times. If you dont convert, you hold the warrant and jump into sea when it get expired.

Posted by rlch > 2015-05-07 16:25 | Report Abuse

If buying from open market cheaper than converting warrant why not let it expire worthless. Now buy 58-58.5sen vs converting warrant 67sen buy from open market is cheaper.

Posted by bearguy > 2015-05-07 16:44 | Report Abuse

because it will be too obvious. if he did that, i believe most of the ppl in this forum has no doubt. straight away dumps the share. solve the headache

Posted by bearguy > 2015-05-07 16:45 | Report Abuse

then be acused insider trading

Posted by goldenhorn > 2015-05-07 16:54 | Report Abuse

why people are still queing to buy warrants? if it will be worthless? anyway, i have sold almost all my warrants to them with 80% loss. very pain, but at least i still get back 20% -_-"

Posted by rlch > 2015-05-07 17:10 | Report Abuse

goldenhorn you have your point as well. Those buying or not selling(including Tai) warrant think there is still some value in it. Hence mother should worth than 67sen?

Posted by goldenhorn > 2015-05-07 17:23 | Report Abuse

rich, my initial plan is to exercise my warrants to mother manually, say i sell 10 lots wa, i buy 10 lots mother. unfortunately, i bought the mothershare too early at 0.67 and now is only 0.585..... another round of sadness.

Posted by ah_huat_liao > 2015-05-07 18:28 | Report Abuse

@ rlch

Why take my candid comments so unhappily, do any of my statements look like it is a price prediction??

Hope you have not been burnt too badly... like most of the innocent, hopeful and woeful shareholders... who have been hearing/reading/sharing "positive news" over the last 8 to 12 months... unless you are related to the management?!

Dear all, ask these questions (after I research and look back carefully on the charts, prices and volume)... especially why the forum keep reiterating about how 2 million or more of shares has been converted from warrants from etc...etc..
For fairness, let's us assume 5 million shares were converted.

Go study the price and volume over the last 8 months; from a high of $1.12 (27 Aug 2014) to low of $0.825 (27 Apr 2015)... what was the daily volume as it begun the slide down??

Let us say 500,000 shares/trading day?

Over 36 weeks, assume 5 days? That will be 180 possible trading days? Multiply 180 days by 500,000 shares per day, we get about 90 million shares traded.

At 500,000 shares per day we are talking about reasonably low volume that day, excluding the spike in volume within the month of August 2014 itself, where prices spiked and slide...

And in the 1 week starting from 28 April 2015, there was a further dumping/covering of 43 million shares (including 18 million traded on 28th April 2015 itself).

On a conservative basis, there was a total of about 130 millions traded... there are many strategy suggested here, but unless you know the actual trend of prices... none of us are none-wiser about how best we can execute these "God-given, fool-proof" strategies, right?

So it would be prudent to stop suggesting to "poor, hopeful shareholders" that the conversion meant something substantial...

5 million/130 million = 3.9%

What is the big deal?

On surprises, these are official announcements and would be "fishy" if it can be amended to otherwise anyhow...

This is not meant to predict any price trend, but just coffeeshop talk with "good men"

Posted by ah_huat_liao > 2015-05-07 18:42 | Report Abuse

For most more comfortable with dollars and cents, 130 million at an average of $0.85 = $110.5 million...

""Posted by AlexanderJin > May 6, 2015 10:11 PM | Report Abuse

244,495,903(100%) shares issued... 41,331,800(17%) traded in the past 5 days...really curious but dislike the uncertainties... ""


Dear fellow shareholders: "How much was the 244.5 million shares issued at??"


""Posted by rlch > May 7, 2015 03:50 PM | Report Abuse

ah_huat_liao Masteel 5 sen, 10 sen are you dreaming? Who want to sell so low? Why Tai spend RM 1.34 million converting warrants at 67sen last month?"""

RM1.34million in context of 110.5million = 1.2%!


Again, this is coffeeshop talk, but shouldn't innocent, poor and woeful shareholders feel something?

Maybe just be happy and move on and get on with life... let us live simpler life while a elite few enjoy the "real life"?

Cause am an equally clueless shareholder once myself...

Posted by ah_huat_liao > 2015-05-07 18:56 | Report Abuse

http://research.maybank-ib.com/pdf/email_content/Technicals_20150506_MKE_2455.pdf

6th May - Maybank predicting downward pressure to even 0.39 region...
(where got profit to take?!)


"""Recommendation
MASTEEL
–
MYR0.61 TAKE PROFIT (TECHNICAL)
(Stock Code: 5098)
(Bloomberg Code: MSW MK Equity)
Malaysia Steel Works KL Bhd (MASTEEL)
manufactures a wide range of steel bars and steel billets.
MASTEEL made a major Wave 2 high of MYR1.10(19 Sept 2014) with grossly overbought and bearish signals.
All of its negative chart signals above suggest an imminent downward decline. It is likely to break lower, as it breached its key
supports in a bearish downward Wave 3 and Wave 5 move.

TAKE PROFIT (TECHNICAL)on rallies for MASTEEL, with weaker supports
and clear downward target areas of MYR0.58, and MYR0.39."""

Guess he meant take profit for those who shorted? Can anyone clarify?

Posted by r°Moi > 2015-05-07 19:21 | Report Abuse

MASteel cannot short... dont know if it will make a difference it is syariah compliant



It could be heaven or it could be hell....

If want to take the risk... do your own assessment of the worst case scenario and see how much of the shits has been factored into current price..

Posted by ah_huat_liao > 2015-05-07 19:35 | Report Abuse

Thanks r°Moi...

So with these huge quantity of shares traded, and technically there can be no-shorting, which poor, innocent shareholder have so many shares to dump??

Sell high and buy back cheap... make money... lots of money then still own the shares... why is this not a good deal?

It is the handling of the news announcement, particularly with the external auditors that is a major cause for concern... anyone think got insider trading or not??

sorry am a clueless, poor shareholder...

there were many "prophets" and like to hear from them...

if i can buy at $0.50, sell at $1.00 and then buy back at $0.50... and still own the business, lagi shiok!

btw, i am not talking about this counter for clarification please.

like to hear from the list of optimisstic list of positive forum ah kor and ah jie in this forum, such as calvintaneng, carson, ayamtua, duitKWSPkita, Steven Yong ... thanks in advance...

Posted by weng77 > 2015-05-07 22:00 | Report Abuse

No news about extension approval by bursa mean standard practice for suspension unless otherwise. At this moment no news mean bad news cause it is in countdown for release for audited account left few days. Two good news could be announced at this moment, approval to extend release of audited result and audited result available before 12 May.

Posted by r°Moi > 2015-05-08 08:56 | Report Abuse

If anything.... the mostly times for MBBs 0.39 to be hit will be...

Before suspension

Upon release of shits

Posted by rlch > 2015-05-08 09:09 | Report Abuse

If no shits release how? Last 2 days already up.

Posted by r°Moi > 2015-05-08 09:31 | Report Abuse

rlch... tell me... come come.. come closer and wisper into my ear... What is your best estimate of the worst case scenario???

Posted by wisdomtot > 2015-05-08 10:19 | Report Abuse

Really 39 cents ? Then sapu more.... Masteel is the company whose salesman no need to go out to look for business...only businesses look for their salesman to buy..and ask for discount of course...