Vivian Hee what ssteel will bear if lost the court case?
Yes I am also a bit concerned about the court case, especially the one claimed by Danieli and DMSB amounting to EUR35 million. Does anyone have a clearer picture on the status of this claim?
US impose steel and aluminium tariff, it had noting to do with Malaysia steel sector as we are mainly supply in local market and never heard about export to US. Anyway, some panic seller may chaos here. hmm
looks like ssteel price keep dropping, no idea why result good but price can't sustain. almost can concluded that ssteel was best result among big 4 steel counters, isn't it?
I think mainly people are aware with their lawsuit case & in-liquidity of the stock. Anyway, I will hold it and buy low. Now, in term of earning & revenue, ssteel already overtake annjoo.
Dear All, court case issues have been provided thru the quarter provisions by the account department, therefore lose will have no impact but will if win will be positive to the overall financial status.
Posted by edward123 > Mar 2, 2018 11:24 AM | Report Abuse
Dear All, court case issues have been provided thru the quarter provisions by the account department, therefore lose will have no impact but will if win will be positive to the overall financial status.
Thanks for the input Edward! But I noticed the Provisions in the Balance Sheet of the latest QR is only RM19.9 mil. Might not be enough to cover the EUR35 mil case (in case they lose)?
It’s only your own thinking that this is about the court case.
1 year ago, the dispute was already around. The price was RM 1.20. Today, despite the drop it’s above RM 2.00. Would you buy at RM 1.20 given the chance again?
Consider this, the EPS will very likely go to 50+ or even 60+ cents. But the PE is determined by the market, it could be 8 or 7 or 5. But I know if the EPS can go up to 60 cents. Even PE 5 will give RM 3.00.
Sostupid=just like anyone of us in real life, if you really want to think for somebody, you have to let that somebody solve his own problem by himselve ("Investment is most intelligent when it is most businesslike.” --Benjamin Graham, The Intelligent Investor.) Or this is called, 放下屠刀立地成佛, or also , 解玲還需系玲人.
What so difficult to make a decision, don't be more stupid than sostupid, 佛在你自己心中, if you want to do something other people need now (現在必要), please make sure that the something is also important to you right now (現在重要). ("Investment is most intelligent when it is most businesslike.” --Benjamin Graham, The Intelligent Investor.)
If your theory is to be true, then there should not be any education, legal, medical institution or infrastructure. Everyone find out and solve their own problem.
And if your theory is to be true, why are you telling me this and not let me find this out myself?
To 歪理连篇: What is theory? Do you mind trying to understand what is the meaning of theory first before you talk about theory.
To sostupid: theory 道理 is not something 歪理连篇 (something for you to talk talk what you want with) but to me theory is everything (your reward whether good or bad) must be derive from work or what is derived from work (道理), a workable model you do to earn a living (practical 實際), or a realistic way (something you do so that other people will not be bad to you 現實).
that is why 道理,實際,現實 must be together all the time and if your intention is to win big you also need the other three elements 天時, 地利, and 人和. You have to think whether you are long- term investor (for this you need paster edward123 to help you in this case) or you are actually someone who is trying to earn a living by buying stocks. If you are the latter (for goodness sake), please you don't need a pastor to tell you what to do. Beware of geeks bearing formulas if you are just trying to be a simple wage earner that sort of people.
Warn3r: Have you ever woo a girl or it is the girl that is wooing you in life or not? You will understand this if you have.Take for example you see your girlfriend in a sad mode today, what is the best thing to do, if you really want to think for your girlfriend.
The only thing you need to determine is whether you want to find a girlfriend that is in the kind of bad mode like ssteel or not?
I remember warren buffett said marry up don't marry down which means you want to find a girl to do all this for you or you want to be the boyfriend to do all this for your girlfriend instead. For this you have to see whether you want to be warren buffett or Warn3r?
There’re two types of ppl. First type, they’re knowledgeable and wise, so at times of confusion they are able to offer clarity through their advice. And because of their wisdom, they make the concepts relevant, simple and straight to the point.
Yes. I’ve tried to understand what you meant. But you really do not make sense, at all. I hate most when ppl read a verse or two and then forcefully apply it to irrelevant situations. This is akin to a 9-year old kid who has just memorized two peribahasa and forcefully apply it to his karangan.
SSteel is a big dissapointment, many people like me hold this counter for more than 10 years. Till now, the company has not admitted its mistake, or talk about its mistake, or let shareholders know about its mistake. It is all other people's mistakes (the itali manufacturer of steel manufacturing machines) or we shareholders' mistakes and not their mistake (no 's' here).
I once made a mistake: I ask people to do for me what I don't know how to do for myself (build me a hrc manufacturing machine 我不會做的事情) and it end up that the other person ask me to do for her what is good for her instead (對她 (itali girlfriend) 好的事情) . You see "don't save up sax for old age", warren buffett said, which means when people are good to you you should try to protect yourself (別人對你好的時候你要懂得照顧你自己) but when other people are bad to you you have to save yourself (別人對你不好的時候你要懂得救你自己) , this is my mistake, instead , 我老是靠別人對我好我變成老是要做別人的需要,但是連佛都不是萬能的我有整摸可能做他所有的需要呢? This is my mistake and maybe this is somebody's else mistake too! 我不要當傻瓜(輸在前面)我也不用去替別做我篤定會輸給別人的事情(輸在後面). You see "don't save up sax for old age", warren buffett said, you know this is what he means now.
Before we argue further on how the recent tariff on steel and aluminium going to impact Malaysia greatly in the future as we may not see in now or the near future (one or two months). One thing is certain is that anything ends with the word war is never good. We have world war, price war, drug war, cold war and so on. Have any of those wars end up good?.
Friday, Dow Jones rebounded from the low of 24,217 to end at 24,538 points. That was a 320 points rebound. The reason behind was traders were expecting Trump going to U-Turn his earlier decision which meant the tariff is not going to happen. However it turned out the other way round. Trump has escalated his trade war rhetoric.
On Friday Trump initiated the Retaliatory Tax which means he is going to retaliate what America's trading partners going to do. The following is what he tweeted on Friday.
" When a country Taxes our products coming in at, say, 50%, and we Tax the same product coming into our country at ZERO, not fair or smart. We will soon be starting RECIPROCAL TAXES so that we will charge the same thing as they charge us. $800 Billion Trade Deficit-have no choice! "
EU President Jean-Claude Juncker responded with the following.
"Europe will react to the proposed U.S. steel action with tariffs on motorcycles (Harley-Davidson), bourbon whiskey and blue jeans." - Juncker
On Saturday, Trump has fired another shot across the bow by proposing to their their cars..
" If the E.U. wants to further increase their already massive tariffs and barriers on U.S. companies doing business there, we will simply apply a Tax on their Cars which freely pour into the U.S. They make it impossible for our cars (and more) to sell there. Big trade imbalance! "
That means Trump has advanced his trade war plan. When America starts to put tariffs into it's import it is initiating Protectionism. In global trade "Protectionism" means a restriction of free trade. This would end up every country going to put up fences against each other. Prices of goods is going to increase and inflation is going out of control. Another point is that world trade is going to slow down tremendously and what happens next? Factories going to export less because every country is going to buy less from others. Eventually unemployment will increase and growth is slowing. This end result will be a stagnant global economy or also known as stagflation.
Thus the consequences of all these will be high inflation and economic stagnation. So how good will it be for all the countries in the world? A good semblance of what is going to happen next when countries reciprocating in trade wars is by looking at President Bush's 30% steel tariffs in March 5th 2002. The S & P 500 plunge 30% afterwards. The United States backed down and withdrew the tariffs on December 4, 2003.
Thus i am not surprise if the Dow is going to plunge another 1000 to 2000 points next week if Trump impose the tariff next week.
In view of the recent run up in stock prices of steel companies around the theme of "steel play". I reckon it went too far (as far as the moon) due to the overly bullish expectation by investors. Investors are expecting sky high financial performance by these companies. But mostly reported only normalized financial results and below expectations.This has created an unsustainable situation where some smart investors started cashing out. Consequently this has resulted in a negative feedback loop where selling begets selling.
The problem has been magnified by the recent announcement of tariff imposition on steel and aluminium by Trump. As a result many investors are trapped in higher prices and cutting losses is not the option any more as losses mount. However another point of argument is that due to the recent announcement by Trump prices for rebar steel has in fact went up. Hence it provided hope for investors to hold long term. Unfortunately from past experiences all tariff hike fails. What makes you think it will be successful this time?
If you look deeper into the problem when America slap a 25% tariff on imported steel, where will the excess steel going to go? China is known to "dump" products that are oversupply into the market regardless of price. What they want is to create employment so as not to create discontent among its people.Another reason is because most large steel manufacturers are owned by the CCP or Chinese Communist Party. They are not going to stay put and keep quiet. How about Korea, Japan and Taiwan whose share in the American steel import are 10%, 5% and 4% respectively? Are they going to keep quiet and move the excess production into inventory? What i can say is that it will come a time where these Asian exporters will 1) impose similar retaliatory measures and 2) dump their excess production into the open market which will create an oversupply situation in the short term. This is because every country wants to protect their labor employment market.
Thus in view of the above uncertainty and the coming market rationalization (investors coming to their senses) i am not surprise to see our steel counters in Bursa getting whack this week when market perception turns from bullish to cautiously bullish. Hence, stock prices will soon have to come back down to earth. In my view for this week the following possibility might play out for the selected steel counters.
Never seen such i3 members come commenting so relentlessly during other times. All coming to post half-truth info hoping the price will drop to their favour to trade
Warn3r, you are right. It will be very volatile from now onward. Traders and opportunists will come and go. Some will win and some will lose. But longer term investors are definitely winners in the long run as long as the fundamental landscape does not change. Just flush out the noises and distractions in the short term. We have seen countless of half-truths and biased analysis since ssteel trading up from rm1 until now. As we all aware, price does not move up or down in a straight line, so do our lives.
Malaysia is protected against korea and japan. Regarding vietnam, how cheap are they going to dump? Do you think it is so easy to dump below market cost?
MrPauper....ever come accross anti dumping of steel of Malaysia against Indai, China, Korea etc....in real world ...steel manufacturer will in export market when price could cover variable cost only
Investorss, be careful. Today the Hangseng Index has drop 697 points to 29,886. This can be considered drastic. The Hangseng and Nikkei is quite core-related to the Dow Jones as both of them can be considered as the bell weather of the Far East market.
A drastic drop of both means tonight Dow Jones might plunge. Hopefully the Dow will not plunge more than 500 points if not there will be another day of big selloff tomorrow in Asia.
I am not here to scare you people. I am talking about facts, price and volume momentum. Look for yourself has any stock today displayed meaningful rebound. Most almost closed at the lowest of the day. This shows weakness and there is nil momentum. Even if Dow Jones truly rebound today after 4 days of drop it doesn't mean the problems with Dow Jones is done with. The parabolic rise of Dow Jones from the low of 15,450.65 in January 2016 to 26,616.71 in Jan 2018 is considered a mania.
Stock are being push up not due to earnings growth but mainly through stock buy back programs which are heavily manipulated. Easy credit from banks enabled many corporations to buy back their share which not only push up their prices but also manipulate the earnings per share higer. Thus most companies looks good on the outside but rotten inside due to the share buyback manipulation.
Thus what i can conclude is that the Dow Jones is already done with. I don;t think we will ever see the Dow going above it's recent high in a long time. Dow is on the downtrend for sure and we shall see more violent moves and volatility moving forward. The Dow is on the way back to 19,000.
Hi cksam. Thank you for your explanation. Some of your points are very valid. I see that most other forumers are more focused on the topic of trump’s tariff on metals while you spoke solely on the macro side.
But we know every market crash has a trigger. So what is it this time in your opinion? Would it be the threat to start a trade war and the reciprocal from EU?
Usually, there’re no signs of fear just before a collapse but I see so many ppl shitting in their pants. Another measurement is the spread between 2-year and 10-year treasury yield, which seems healthy at this point.
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Posted by Huatar333 > 2018-03-01 14:53 | Report Abuse
cheap pump another 100k