Posted by r°Moi > 2015-05-11 11:31 | Report Abuse

I am queueing to buy.... I am queueing to buy.... based on my own educated guess calculated risk... you do your own



And.... you all should come together.. get total 10% share capital and request for EGM to !@#$$//^^* the directors

Posted by tanbb > 2015-05-11 11:43 | Report Abuse

bought some on 0.700 last time..regret lo

Posted by r°Moi > 2015-05-11 12:03 | Report Abuse

If the directors have a statement to make... better be doing it now

Posted by r°Moi > 2015-05-11 13:35 | Report Abuse

1MDB.. an extinction level event

MASteel... likely not...

Posted by beso > 2015-05-11 13:44 | Report Abuse

last day before suspension for trading

Posted by sheep > 2015-05-11 15:33 | Report Abuse

sill no news? queue to buy at 0.55

Posted by Alex Chan > 2015-05-11 15:57 | Report Abuse

sayonara for now
awaken to PN17 or a fiery phoenix?

Posted by r°Moi > 2015-05-11 15:57 | Report Abuse

everybody is in suspense and waiting.... if there is good news they would have announced early in the day ler............. common sense mah

Posted by davidkkw79 > 2015-05-11 16:00 | Report Abuse

so romantic and ppl falling in love with this romantic stock

Posted by ah_huat_liao > 2015-05-11 16:27 | Report Abuse

Many sentimental punters with spare money...

It is human nature... Greed and Fear of Loss...

Posted by goldenhorn > 2015-05-11 16:31 | Report Abuse

finally, i heartbroke, i chose to flee.

Posted by Alex Chan > 2015-05-11 16:43 | Report Abuse

Masteel has only 1 good run, when they announced the monorails proposal. That's was circa 5 years ago.

All good things do come to an end

Posted by ah_huat_liao > 2015-05-11 16:54 | Report Abuse

@goldenhorn

You are definitely not alone...

Many broken-hearted and burnt fingers...

Management have to improve on doing the right PR carefully... rail is likely delayed per media...

Do take care and trade with caution.

Posted by r°Moi > 2015-05-11 17:00 | Report Abuse

Didn't get............................

Posted by goldenhorn > 2015-05-11 17:00 | Report Abuse

@ah huat. TQ.
my warrants bought at around 0.5X and 0.4X. I was with this counter for >5 yrs, since fundamentally is good. but the ending is so sad. crazy. But this will end today 5pm as I have sold off everything. no more masteel. very expensice lesson.

Posted by keanchung > 2015-05-11 18:24 | Report Abuse

SUSPENSION OF TRADING
MALAYSIA STEEL WORKS (KL) BHD

MASTEEL has failed to submit its annual audited accounts for the financial year ended 31 December 2014 ("AAA 2014") to Bursa Malaysia Securities Berrhad ("Bursa Securities") for public release within the stipulated timeframe i.e. 30 April 2015 pursuant to Paragraph 9.23(2) of Bursa Securities' Main Market Listing Requirements ("LR").

Pursuant to Paragraph 9.28(5) of the LR, if a listed issuer fails to issue the outstanding financial staements within 5 market days after the expiry of the relevant timeframe as stated in Paragraph 9.23(2) of the LR ("Relevant Timeframe") (the last day of the 5 market days is referred to as "Suspension Deadline"), in addition to any enforcement action that Bursa Securities may take, Bursa Securities shall suspend the trading in the shares of such listed issuer. The suspension shall be effected on the next market day after the Suspension Deadline.

In view of the above, the trading in MASTEEL's securities will be suspended with effect from 9.00 a.m., Tuesday, 12 May 2015 until further notice.

Pursuant to Paragraph 9.28(6) of the LR, if a listed issuer fails to issue the outstanding financial statements within 6 months from the expiry of the relevant timeframes, in addition to any enforcement action that Bursa Securities may take, delisting procedures shall be commenced against such listed issuer.

Posted by weng77 > 2015-05-11 18:32 | Report Abuse

Masteel will suspend for trading start from tomorrow till further notice.

Posted by tjhldg > 2015-05-11 18:33 | Report Abuse

Company already clearly informed will only manage to submit latest by another 6 weeks , so suspended of trading is expected .. Wish no more delay la ... Hahhahahah .. Good luck la

Posted by Johnnys > 2015-05-11 18:49 | Report Abuse

after 6 week, it will apply another extension till 6 months.
Can delete MASTEEL from this forum already.

Posted by r°Moi > 2015-05-11 19:15 | Report Abuse

What the shits have the directors done??



Can't ever over emphasise... must always maintain a healthy level of scepticism...

Posted by legend > 2015-05-11 20:11 | Report Abuse

SUSPENSION OF TRADING MALAYSIA STEEL
MASTEEL has failed to submit its annual audited accounts for the financial year ended 31 December 2014....
# masih ramai menaruh harapan lagi...banyak berani la semua..!

Posted by tanbb > 2015-05-11 20:11 | Report Abuse

so sad..i nt yt cut lose..

Posted by TengkuFaisal > 2015-05-11 20:14 | Report Abuse

full of rubbish stock in bursa.

tomorrow all 2nd 3rd liner go holland.

Posted by TengkuFaisal > 2015-05-11 20:17 | Report Abuse

6 weeks later they will tell you still cannot submit. no auditor want to work for them, they cant pay the audit fee.

so delisted la.

Posted by TengkuFaisal > 2015-05-11 20:26 | Report Abuse

condolence to Masteel trader. now you cannot run.
you stock is suspended for 2 months.

open limit down. and next day another limit down.

Posted by beso > 2015-05-11 20:28 | Report Abuse

pn17 then pn4 afterthat delist

Posted by TengkuFaisal > 2015-05-11 20:29 | Report Abuse

cannot understand why people want to buy steel counter.

you have so many cases of steel co. in deep trouble.

Posted by rlch > 2015-05-11 20:34 | Report Abuse

Why buy share cannot think like place FD? I3 forummers never place 2 months FD?

Posted by tjhldg > 2015-05-11 20:35 | Report Abuse

Hehheheeee .. Let see how :).. Talk is cheap aeh ,unless you r insider la .. Those like me who take the risk of facing total loss aeh also bukan bodo aeh and kita punya RM also ada gambar agung aeh .. .. Cheer up cheers to all still holding this counter .. Those who ada but hati si pek bo song aeh also can't do anything liau .. Face it and have faith in this company like me la .. Think positive la .. Those who tak ada and try to add salt talk negative with their pesonal view aeh also can't change anything liau aeh.,won't affect liau aeh ... Rugi also tak sangkut dgn u punya pocket , menang also not from your pocket ma..Hati mau baik la.. Wish all share holder good luck la ...

Posted by RedEmperor > 2015-05-11 20:58 | Report Abuse

as expected, shares suspended. Will be fine when report is submitted. Good things come to peoples who wait.

Posted by tjhldg > 2015-05-11 21:34 | Report Abuse

Hehehheheh

Posted by kakijudi > 2015-05-11 21:46 | Report Abuse

Eh. I think you guys are all wrong. Masteel will surprise all of you soon :)

Posted by kakijudi > 2015-05-11 21:46 | Report Abuse

Suspension is just a SOP for securities commission. Actually is, now whoever want to buy also no chance to buy already, rather that who want to sell also no chance already. Lol

Posted by kankung > 2015-05-11 21:59 | Report Abuse

Masteel's shares to be suspended tomorrow
http://www.stockhut.com.my/news/35351

Posted by goldenhorn > 2015-05-12 09:37 | Report Abuse

for those who still want to buy back can still buy back when report out is good after 2 mths. at least we can confirm is good report, only buy

Posted by ah_huat_liao > 2015-05-12 09:55 | Report Abuse

Totally agree with goldenhorn.

Sleep better during this time. There might be a slight spike if good news but, takes a lot more than good news to calm the market nerves...

Prudent to trade with greater certainty.

If I want to punt my S$100k, rather go Marin Bay Sands. Dun have to lose sleep...

Just my 2-cents worth.

Posted by rlch > 2015-05-12 10:43 | Report Abuse

Public Invest said Masteel should rebound post suspension contrary to someone here said PN17 and delisted.
http://klse.i3investor.com/blogs/PublicInvest/76391.jsp

Posted by r°Moi > 2015-05-12 11:19 | Report Abuse

Posted by r°Moi > May 4, 2015 02:32 PM | Report Abuse X

Based solely on the 4Q14 results announcement.. r°Moi think the two most likely shits would be....



1. Bad debts not accounted for...

How 1MDB's cash flow problem messed with the goverment pocket is well known.... It is well known too properties sales have slowed.... and these will cause contractors and developers alike to face with tight cash flow problem. This will in turn work its way up to the suppliers of materials.....

In MASteel... its customers in fact have actually slowed down in paying up...

Got bad debts or not??



2. Plant and machinery overstated...

This.. if true.. will involve the making of police report and possibly MACC too. Very very very messy.


Bills ok or not?? Some tangible parts are like not so tangible leh??

It would be brilliant but totally ruthless... totally ruthless... if part of that money had been used to convert the warrant recently.


These are just guesses not allegations.







What could it be? The 2014 unaudited financial statements have seen receivables jump a substantial RM92.5m from RM239.4m last year to RM331.9m currently, though that can also be explained by its revenue growing at a similar quantum. That said, a 1-for-1 increase is uncommon, implying inexplicably long credit terms given. Either that, or some overdue receivables may be deemed irrecoverable by the auditors, suggesting the need for some impairments in the accounts hence a possible “disagreement' between company and auditors, resulting in the latter being unable to express an opinion on the financial statements. Management has been accessible when we sought clarification, but understandably tight-lipped on the issue given its sensitivities. The postulation is merely an expression of opinion made on face value based on its unaudited financial statements. Or it could be much ado about nothing, of which the company's share price could rebound as its fundamentals remain relatively intact.

Source: PublicInvest Research - 12 May 2015



Bad debts not accounted for... r°Moi and PublicInvest Research in agreement


Or it could be much ado about nothing,.... much ado about nothing would take 7 weeks???

Posted by r°Moi > 2015-05-12 11:20 | Report Abuse

r°Moi is posting for sharing....... nothing else.... don't take it wrongly please

Posted by rlch > 2015-05-12 11:41 | Report Abuse

ks55 why Tai major shareholder want to burn RM1.34 million converting his 2million warrants only last month? Is he dumber than you because RM1.34 million is too little money?

Posted by rlch > 2015-05-12 11:42 | Report Abuse

Most steel stocks owners(Perwaja, Kinsteel, etc) are disposing their shares but not Masteel. Why?

Posted by r°Moi > 2015-05-12 11:45 | Report Abuse

Adoi...... be civilised man.... be civilised

Posted by rlch > 2015-05-12 11:46 | Report Abuse

Lion Group losses and more losses? Pn17 more likely.

Posted by r°Moi > 2015-05-12 12:00 | Report Abuse

Listen.... if the culprits have gained say RM 10m from the shits.. giving a million or two back to society is still ok mah

For one it has made a romantic like you feeling very very good ler

Posted by keanchung > 2015-05-12 12:30 | Report Abuse

The trading of Malaysia Steel Works (Masteel)'s shares will be suspended effective today until further notice, triggered primarily by its delay in the audit completion of its FY14 financial statements and the release of audited financial report for FY14. Pending the outcome of the audit results, we maintain our call and target price.

To recap. On 27th April, the company clarified that they had been informed by its external auditor, Messrs Nexia SSY that they are not able to express an opinion on the financial statements of the company for FY14 due to various issues raised. Hence, the management has taken initiative to engage UHY Advisory (KL) S/B to conduct an independent and comprehensive review of the issues raised by its external auditors in order to facilitate the external auditors' provision of an opinion on the FY14 financial statements. The “special review” is expected to be completed in six weeks. The board had made an application to Bursa Malaysia to seek an extension of time up to 30 June 2015 to issue the audited financial statement 2014.

Negative impact. Since the announcement of a potential delay in submitting the audited financial statements, the share price has tumbled more than 25% as questions are being raised on the state of the company's financials.

What could it be? The 2014 unaudited financial statements have seen receivables jump a substantial RM92.5m from RM239.4m last year to RM331.9m currently, though that can also be explained by its revenue growing at a similar quantum. That said, a 1-for-1 increase is uncommon, implying inexplicably long credit terms given. Either that, or some overdue receivables may be deemed irrecoverable by the auditors, suggesting the need for some impairments in the accounts hence a possible “disagreement' between company and auditors, resulting in the latter being unable to express an opinion on the financial statements. Management has been accessible when we sought clarification, but understandably tight-lipped on the issue given its sensitivities. The postulation is merely an expression of opinion made on face value based on its unaudited financial statements. Or it could be much ado about nothing, of which the company's share price could rebound as its fundamentals remain relatively intact

Posted by Jason Seng > 2015-05-12 12:57 | Report Abuse

where u get the report?

Posted by keanchung > 2015-05-12 13:03 | Report Abuse

http://klse.i3investor.com/blogs/PublicInvest/76391.jsp

Posted by keanchung > 2015-05-12 15:26 | Report Abuse

The Board of Directors of MASTEEL wishes to announce that Bursa Malaysia Securities Berhad had via their letter dated 11 May 2015 informed the Company that they were rejected the Company’s applications for the following extension of time :-



Extension of time until 30 June 2015 to furnish the audited financial statements for the financial year ended 31 December 2014; and
Extension of time until 31 July 2015 to furnish the annual report for the financial year ended 31 December 2014.

Posted by rlch > 2015-05-12 15:50 | Report Abuse

So what Masteel need to do? Release audited account immediately?

Posted by ah_huat_liao > 2015-05-12 16:34 | Report Abuse

Reason for special audit is because there are classification and recoverability issue on their financial...
If the external auditors do not sign off, accounts is considered not true and fair... this will have adverse effect on their accounts and reputation... prices is likely to head south...
The special audit is prove that the management is right and the risk of audit is on the special audit team....
What bursa wants is the release of accounts by 30th June... if not... delisting seems to be their planned course of action...
Great risk, maybe great return...