Posted by jtpc2006 > 2011-10-18 10:46 | Report Abuse

MSC excellent record on dividend payouts, makes a lot of money, why is this share not promimently on your radar yet?

Posted by jtpc2006 > 2011-11-05 09:11 | Report Abuse

Wow, MSC's 3Q results in, profit surges to RM41.81m, absolutely one of the best stocks to go in.

Posted by traderhub > 2011-11-05 13:29 | Report Abuse

Yes, I believe it will do well next week provided the Greece issue is under control.

Posted by jtpc2006 > 2011-11-05 15:58 | Report Abuse

simple comparison, F&N earned less than MSC abt RM1.02 full year results whereas MSC RM1.08 (just for 3Qs), F&N current prx >RM17, whilst MSC at RM4, so you can imagine MSC prx can still shoot up plenty more. Grab some while you can, it's a gem.

Posted by jtpc2006 > 2011-11-05 16:14 | Report Abuse

sori, F&N earned about RM1.067, and not 1.02, typo error.

Posted by jtpc2006 > 2011-11-05 16:16 | Report Abuse

aiyoh, i meant 1.069, sori again.

Posted by jtpc2006 > 2011-11-08 07:29 | Report Abuse

market news, this is one of the stocks to watch out for )))!!!

Posted by jtpc2006 > 2011-12-14 10:39 | Report Abuse

it's MSC upswing again. When market is down, MSC will rise because of its' fundamentals and not on hot air.

Posted by bees > 2011-12-14 11:53 | Report Abuse

golden stock

Posted by jtpc2006 > 2011-12-14 14:47 | Report Abuse

sure thing, expect MSC will go much higher, just you compare with F&N

Posted by jtpc2006 > 2012-02-08 14:57 | Report Abuse

MSC 4Q results coming in soon, will go skyhigh

Posted by petracot > 2012-02-08 15:04 | Report Abuse

MSC's 9 month earning is RM1.09 per share. The whole year earning ending Dec 2011 is expected to be in excess of RM1.30 per share. It is irrational for such share to be priced at RM4.50 per share. Even if you apply an ultra conservative PE ratio of 4, the price will work out to RM5.20

Posted by jtpc2006 > 2012-02-08 15:17 | Report Abuse

yes petracot, fully agree, TP above RM5.20+++

Posted by petracot > 2012-02-08 15:36 | Report Abuse

Many people bought MSC at between RM8 to RM9 3 years ago. They were caught by the company's losses for the last 3 years due to wrong overseas investments. However, the company has sold some of those unprofitable ventures and written down all impairments. Despite the excellent earnings, people are still haunted by those massive losses. But things have changed since the beginning of 2011. It will take another 1 or 2 years before the market is fully convinced. Well, by that time they may be staring at MSC with a huge price tag of RM12

Posted by jtpc2006 > 2012-02-08 15:43 | Report Abuse

petracot, you really did the homework, thanks. Major shareholder now Temasek Singapore? Am ready for the price tag RM12 any time as hv full confidence in this counter.

Posted by petracot > 2012-02-08 16:10 | Report Abuse

No idea whether Temasek is a major holder. By the way, when the price of MSC dipped last year, a family member of the owner bought 400,000 at one go, and the CEO himself bought 200,000 for his wife. You can check it on the MSC announcements.

Posted by jtpc2006 > 2012-02-08 16:21 | Report Abuse

thanks for the info.

Posted by Gan Chin Sern > 2012-02-08 16:28 | Report Abuse

petracot, could you explain what is impairments loss? i notice MSC was badly hurt.

Posted by Gan Chin Sern > 2012-02-08 17:13 | Report Abuse

Interim gross dividend of 12 sen per share was paid
out on 28 September 2011 (1H 2010 - Nil). Expect
another dividend payment after announcement of
4Q results
http://msmelt.listedcompany.com/misc/MSC_3Q2011Slides.pdf

Posted by petracot > 2012-02-08 20:12 | Report Abuse

Impairment loss simply means paper loss. For example a company bought a property for RM1 million last year. This year the value of the same property drops to RM800,000. There is an impairment of RM200,000. The accountant will deduct this figure from the income of the company.

Posted by jtpc2006 > 2012-02-08 21:49 | Report Abuse

petracot, sorry major shareholder is not Temasek but Straits Trading Singapore.

Posted by petracot > 2012-02-08 23:51 | Report Abuse

Yes,Straits Trading Singapore is the controlling major shareholder. This is a very reputable and conservative group founded by the late Tan Chin Tuan.

Posted by jtpc2006 > 2012-02-09 07:07 | Report Abuse

that's why MSC counter is now doing so well. And I can go furher to say RM12 is still conservative, just look at F&N shareprice so much higher than this but earnings lower than MSC.

Posted by Gan Chin Sern > 2012-02-09 14:10 | Report Abuse

unless MSC increase the dividend. F&N is giving out generous dividend.

Posted by petracot > 2012-02-13 22:33 | Report Abuse

MSC's chart looks very positive with the price staying above the 200MA line for the last few weeks. One can expect further appreciation in the coming weeks due to the following factors:-

(a)50MA (weekly)has crossed above 200MA line, chartists call this Golden Cross indicating bullish trend
(b) Tin price has risen to USD25,000 per tone,and possibly beyond in the next few weeks because of tight supply situation
(c)Impending result announcement with declaration of a final dividend, should be more than 15 sen

Posted by petracot > 2012-02-24 00:38 | Report Abuse

Unfortunate! Unfortunate! MSC 4Q2011 results was disastrous. Instead of the expected bumper profits, it turned in a humongous loss of 46 sen per share. However, the whole year earning is still attractive at 61 sen. A final dividend of 18 sen was declared (interim 12 sen)

The loss was unexpected and was beyond the control of the management. It was incurred by the Indonesian subsidiary Koba Tin. The Indonesian Government banned the export of tin in Oct 2011 for a few months in order to prop up tin prices. The ban affected production and sales revenue. In addition there were some impairment write down of investment.

Despite 4Q losses, MSC is still solid financially and future earning will improve as sales and production in Indonesia return to normal.

Posted by jtpc2006 > 2012-02-24 09:30 | Report Abuse

Final dividend 18sen, very good, look at the tin price rising, MSC will move up again. Indo situation already stabilised.

Posted by yeap boon tat > 2012-02-24 16:13 | Report Abuse

today MSC fell 39 sen...very poor performance

Posted by petracot > 2012-02-25 13:44 | Report Abuse

Do not worry too much about the 4Q11 results and the share price. More than 25 sen per share of losses are due to impairment write down. These are paper losses which had been paid for and do not actually affect cash flow. This means the actual income flow in 2011 is 86 sen per share(61 + 25). A glance at the company's cash flow table reveals that the the cash position has increased from RM119 million last year to RM235 million by end of 2011.

Posted by jtpc2006 > 2012-02-26 08:33 | Report Abuse

petracot, very good analysis of the 4Q1 results, MSC will spring up again, the fundamentals are all there, nothing will hold down a golden counter!

Posted by jtpc2006 > 2012-03-12 11:08 | Report Abuse

MSC will now do even better with the strategic tie-up with Indo JV partner

Posted by jacklew > 2012-03-12 11:45 | Report Abuse

how's the dividend looks like for this counter?

Posted by jtpc2006 > 2012-03-12 11:58 | Report Abuse

very healthy, i think interim 12 percent, final dividend declared 18 percent. Pls look up their financial report for actual figures.

Posted by jacklew > 2012-03-12 12:21 | Report Abuse

wow, that's great return. i think the recent drop in share price provides an opportunity to enter this counter. it just a matter of time for its share price to climb back....

Posted by jacklew > 2012-03-12 12:23 | Report Abuse

jtpc, what's your opinion if compare msc with digi?

Posted by petracot > 2012-03-12 13:56 | Report Abuse

MSC's latest development: The company took in an Indonesian partner with a stake of 23% in its Indonesian operation PT Koba. That shareholding will later increase to 50%. On the surface, MSC is losing out because its shareholding is being diluted. However, this move is necessary for the following reasons:

a) MSC's tin mine in Indonesia is expiring in 2013. Local partnership is part of government's requirement for licence renewal.
b) New local partner will assist acquisition of additional mine

So, it is a win-win situation for longer term benefits. One must bear in mind, Indonesia is the World's largest tin exporting nation. China, though is the largest producer of tin in the world, uses up everything.

(This article is for information only and represents author's own opinion. Please do your own research if you are intending to buy or sell MSC)

Posted by jtpc2006 > 2012-03-12 14:30 | Report Abuse

thanks Petracot

Posted by seahcc > 2012-03-19 10:10 | Report Abuse

keep on. come on...yr sweetdream will come true finally after 30 yrs

Posted by jacklew > 2012-03-20 22:55 | Report Abuse

keep dropping. Look forward to enter at RM3.50.

Posted by Gan Chin Sern > 2012-05-01 12:33 | Report Abuse

RHB CAPITAL NOMINEES (TEMPATAN) SDN BHD 500,000 0.50
FOR FONG SILING (CEB)

Posted by kcfan > 2012-05-07 20:38 | Report Abuse

MSC (FV RM5.60 ' BUY) Corporate News Flash: No Impact from New Mining Regulations
The Star reported on Saturday that the Indonesian government has imposed a 20% tax on some raw metal ore exports, and will prohibit shipments of raw materials unless miners submit plans to build smelters. The export ban will definitely affect mining companies, especially for those having long-term agreements with external parties. The rules are a precursor to a total ban on raw material exports by 2014. According to the report, tin ore is among the metals in the export ban list and Malaysia Smelting Corporation (MSC) operates its tin mining activities in Indonesia via its subsidiary, PT Koba Tin.

Posted by jtpc2006 > 2012-05-14 09:04 | Report Abuse

Mkt overreacting, this counter is worth buying in.

Posted by petracot > 2012-05-15 22:07 | Report Abuse

There is no need to worry about 1Q2012 results of MSC. Here is the reason for the poor performance.

"The management’s on-going efforts to turn around Indonesian subsidiary have seen the progressive closure of expensive pits, which led to lower tin volume in 1QFY12. Given PT Koba Tin’s legacy of high fixed cost of USD2.5m per month, the lower volume translated into higher units, and consequently a huge loss. With its turnaround plan well in progress plus the commissioning in stages of its cheaper cost cum higher quality pits, we expect this subsidiary’s losses to ease in the upcoming quarters".

I personally believe the earning will turn around to a much better set of figures by 2Q or 3Q. Over a longer term, MSC is still a good investment. Just for information, iCapital holds a total of 2.9 million MSC shares. They bought the shares in 2010 and 2011.

Posted by jtpc2006 > 2012-06-07 09:24 | Report Abuse

target price 5.60 conservative, agree very sound investment!

Posted by jtpc2006 > 2012-07-05 10:31 | Report Abuse

petracot, any updates on MSC? thanks.

Posted by catcity > 2012-07-05 10:48 | Report Abuse

osk bad analysis........................tp 2.50

Posted by petracot > 2012-07-05 22:22 | Report Abuse

Nothing significant happening in the last few months except MSC is setting up 40% JV tin concentrate smelting plant in Congo. However, the products still need to be sent to Butterworth for final stage refining. This JV will actually benefit MSC because it serves as a tin ore collection centre in Congo and semi-pure tin ingots will be channelled to Butterworth plant.

Going forward, it will be interesting to see how MSC fare in the coming 2Q results. With tin price averaging USD19,000 per tonne and Indonesian mine still recovering, I don't expect earning to have any upside surprise.

Posted by jtpc2006 > 2012-07-07 19:54 | Report Abuse

petracot, thanks for update. Read about some changes in the agreement with Indo partners, and this will benefit MSC.

Posted by petracot > 2012-07-23 21:51 | Report Abuse

Effectively, the new agreement will reduce MSC's stake in P. T. Koba to 30%. Personally I view this development positively as it will reduce the risk of MSC in Indonesia. Since P. T. Koba has been bleeding, it would be even better for MSC to dispose the entire stake. MSC's Butterworth smelting plant and the tin mining activities in Perak can generate earning of about RM1 per share had it not for the losses in Indonesia.

Posted by ahmad khan mhammed noordin > 2012-07-23 22:57 | Report Abuse

please comment..
I bought MSC at 380 last few day and today it shoot till 390.
should i sell or hold.