Posted by Albukhary > 2016-10-27 00:39 | Report Abuse

Annetan, all this while, SSTEEL has made the provision for the SHRC here and there, that why quarter you can see some impairment loss...

But now, this RM141m is the final amount to be write off, you can see the statement in the QR.

Below is the paragraph stated in the quarterly report:-
"Pending the outcome of SHRC's claim against Danieli in the arbitration, an amount of RM141 million (Represent the TOTAL CAPITALISED DIRECT ATTRIBUTABLE COST in commissioning the plant and the CAPITALISED BORROWING COSTS incurred for the plant) was written off and is included in the financial statement"

Posted by Annetan > 2016-10-27 07:51 | Report Abuse

Thank you Albukhary for pointing that out to me.I missed it.

Posted by Alex Lim Jun Xiong > 2016-11-14 18:38 | Report Abuse

Tomorrow shoot up.
=)

Posted by moneySIFU > 2016-11-14 20:47 | Report Abuse

Another disappointing or reasonable result? Annualised 4.6x4= 18.4c.

Below are extracted from an article with analysis for last quarter's result:
Excluding the 1-off write-off of PPE of RM141m and 1-off provision and write off of inventories of RM20m, the Company is actually making an awesome profit of RM48m which translates into EPS of11.65 cents.
http://klse.i3investor.com/blogs/Ssteel/102788.jsp

Posted by pantor > 2016-11-14 21:07 | Report Abuse

At share price of 1.22 and eps of 4.6 sen, it is considered cheap. If this eps can sustain then it is worth 1.80 with PE 10.

Posted by pantor > 2016-11-14 21:14 | Report Abuse

Southern Steel Bhd returned to the black in its first quarter ended Sept 30, 2016 (1QFY17) with a net profit of RM19.3 million

Posted by VenFx > 2016-11-14 21:21 | Report Abuse

Wow, local fund might hop in.
Retailers will stay sideline with doubt I guess.

Posted by VenFx > 2016-11-14 22:15 | Report Abuse

Dress the window bfor Xmas.

Posted by davidkkw79 > 2016-11-14 22:16 | Report Abuse

Really surprising result, didn't expect it return to black profit making.

Posted by Johnnys > 2016-11-14 22:29 | Report Abuse

Totally below expectation, I though it can at least above eps 6 cents.

Posted by VenFx > 2016-11-14 22:31 | Report Abuse

$1.38 on the card ... chap chap

Posted by pantor > 2016-11-15 00:35 | Report Abuse

will go above 1.30

Posted by Albukhary > 2016-11-15 01:13 | Report Abuse

My estimated PBT is RM40mil, but now actual result is RM33mil.
Because I didn't expect the provision for write of inventory will be same high as last quarter (since steel price has gone up, so there shouldn't have any provision).
But anyway, this result is pretty good for me d.
One more good point, SSTEEL confirm that they have no borrowing in Foreign Currency. So the depreciation of ringgit won't affect them (except for the purchase of raw material from oversea).

Posted by Albukhary > 2016-11-15 01:38 | Report Abuse

销售价提高及成本走低，带动南达钢铁（Southern Steel Bhd）首季转亏为盈。

南达钢铁指出，截至9月杪的2017财政年首季，净利为1930万令吉，相较于上财年同期净亏5191万令吉。

然而，首季营业额下滑1.1%至5亿8575万令吉，同期是5亿9244万令吉。

根据该集团向大马交易所报备，首季取得3300万令吉的税前盈利，相比去年同期的5700万令吉税前亏损。

展望未来，该集团预计，2017财年的市场将保持不确定和波动，原料成本上涨，以及市场需求趋软。

政府早前宣布，自9月26日起，对进口至大马的钢卷和钢筋分别征收13.9%和13.4%的临时保护税，然而，该集团预计本地市场仍具竞争，因将需要几个月的时间方可耗尽现有市场的廉价进口库存。

南达钢铁今日下跌2仙或1.6%，收报1.22令吉，市值为5亿1462万令吉。

Posted by Albukhary > 2016-11-15 08:52 | Report Abuse

Hope it won't gap up too much, let me buy more first

Posted by Darren Kua > 2016-11-15 09:03 | Report Abuse

20m profit sounds good but borrowings increase from 221m to 345m.

Posted by Albukhary > 2016-11-15 11:00 | Report Abuse

Borrowing increase because they paid off a lot of trade payable last quarter, you can see substantial reduce in their trade payable.
I think they foresee USD will be strengthen, so they choose to paid off the trade payable, as normally majority of the trade payable are in USD (as they import raw material).

Posted by goldenluck16 > 2016-11-15 11:49 | Report Abuse

Medium term buy...demand for steel strong....railway tracks for ECRL.

Posted by leoting > 2016-11-15 12:36 | Report Abuse

Albukhary explanation make sense on borrowing increase issue

Posted by thinking > 2016-11-15 14:45 | Report Abuse

seems to me that the share price is still undervalued relative to other steel players...

Posted by winmal > 2016-11-15 16:39 | Report Abuse

more profit taking today, hope it can sustain n move upward

Posted by winmal > 2016-11-15 16:40 | Report Abuse

strong support at 1.27 - 1.28

Posted by ming > 2016-11-23 22:21 | Report Abuse

Slow leh~

Posted by Albukhary > 2016-11-27 17:06 | Report Abuse

If youcompare Masteel and SSteel, then you will know how good is SSTEEL

Posted by nono118 > 2016-11-29 22:41 | Report Abuse

the ugly duckling in the hong leong group.

Posted by ming > 2016-12-22 13:30 | Report Abuse

Move leh~ u can bit annjoo geh

Posted by WealthWizard > 2016-12-22 15:20 | Report Abuse

Very interesting, seem like this company has not moved in tandem with the bright future prospect ahead of it.

Posted by moneySIFU > 2016-12-22 18:01 | Report Abuse

Wealthwizard is here, another undervalued stock spotted by WealthWizard?

Posted by VenFx > 2016-12-22 18:08 | Report Abuse

Ssteel always produced high grade quality for its Steel bar in Malaysia. (Perhap only Annjoo can par with Steel quality)

Posted by moneySIFU > 2016-12-22 21:57 | Report Abuse

Rebar price in Malaysia has increased from RM1,850 (end of September) to RM2,430 as at today, an increase of 31%, in tandam to the same quantum of the rebar price in China

Posted by moneySIFU > 2016-12-22 22:11 | Report Abuse

Agreed with WealthWizard, share price of SSteel has not moved much, coupled with optimistic near future for global steel industry, much more to come from this company

Posted by moneySIFU > 2016-12-22 22:26 | Report Abuse

Hi VenFx, how can I get the info that mentioned by you? Thank you

Posted by moneySIFU > 2016-12-23 12:08 | Report Abuse

生意社机构数据显示，截至12月16日，钢材基准价格指数为4012元/吨，较2015年底上涨1819元/吨，涨幅82.9%，年环比上涨11.9%。其中螺纹钢价格为3568元/吨，较2015年底上涨1587元/吨，涨幅80.1%.

Posted by moneySIFU > 2016-12-23 12:12 | Report Abuse

3rd grade Rebar price in China has increased more than 30% since the month of September 2016
http://www.100ppi.com/vane/detail-927.html

Posted by Ramada > 2016-12-23 12:34 | Report Abuse

The main concern is impairment loss. Investors don't like SSTEEL I think due to this reason.

Posted by Lulu La > 2016-12-23 12:36 | Report Abuse

Moneysifu n Wealthwizard earn in mycron now come to ssteel...haha

Posted by moneySIFU > 2016-12-29 12:06 | Report Abuse

If no more provision for stock value written down & other impairment in coming QR, EPS may be easily more than 7 cents

Posted by moneySIFU > 2016-12-29 12:10 | Report Abuse

Sorry, estimated EPS should be 9 cents!

Not 7 cents

Posted by moneySIFU > 2016-12-29 12:23 | Report Abuse

By annualising it, yearly EPS = 36 cents.

Apply PE 5 times, 1st target price = RM1.80
At PE 7, subsequent target price should be RM2.52

Posted by chamlo > 2017-01-02 06:12 | Report Abuse

Natural gas price hike discouraging, says Misif
http://www.thesundaily.my/news/2114267

Posted by bonbon > 2017-01-05 11:56 | Report Abuse

Luckily I still holding annjoo, if merely depend on this ssteel, I would surely vomit blood. Annjoo has reached its yearly highest price today and this 大番薯still lingering on the floor

Posted by WealthWizard > 2017-01-05 16:31 | Report Abuse

This is truly undervalued company & market will realise it sooner rather than later

Posted by Alex Lim Jun Xiong > 2017-01-05 21:54 | Report Abuse

Loss making company also can up?

Posted by MrPauper > 2017-01-05 21:57 | Report Abuse

A loss making company cannot up but a turnaround company definitely can !

Posted by ks5S > 2017-01-05 22:34 | Report Abuse

i heard a corporate merger between ann joo and s.steel is coming soon.

Posted by Albukhary > 2017-01-05 23:57 | Report Abuse

Corporate merger... haha.. then I think SSTEEL at least worth RM2.60.

Posted by MrPauper > 2017-01-06 00:43 | Report Abuse

Seems like ks5S is not credible at all.. Most of the time what he says, the opposite happens, especially buy call..

Posted by Albukhary > 2017-01-06 00:50 | Report Abuse

When i was young, I work in an audit firm.
That time I was assign to participate in a due diligence project (Company A being acquired by Company B, both listed company).
I was very happy and I ask my brother to accumulated the Company A share.. From that day I bought until I left the audit firm and change few jobs, the deals is still not on. If not mistaken, it was only done after 3-4 years.

What I try to say is, maybe KS55 need 3-4 years to prove what he said today is truth.

Posted by RUOutOfUrMind > 2017-01-06 01:29 | Report Abuse

Wealthwizard, why you think this is undervalued company? Any clue?

Posted by ks5S > 2017-01-06 05:18 | Report Abuse

gas price hike, worker salary go up...... will make them to merge to face china company...
even small china company also close shop... what make you think they can stand alone separately... bank already merge and become stronger.. steel will merge... glove industry will merge.... this is the trend now... don;t judge me now, judge me later.