The 6-month loss is RM40 million, but this include paper loss of RM38 million of tin inventory write down to current tin price. The actual loss is only RM2 million. Below are personal thoughts:
MSC is a pure mining company. Cyclical volatility is the basic nature of this type of operation. Currently, tin price of around USD18,000 per tonne is below average cost of production of around USD22,000. The current market situation is mainly due to lack of demand for tin as result of global economic slowdown. In 2 or 3 years time, when the world economy picks up, tin price could go as high as USD30K to USD40K. MSC earning could be RM1 to RM2 per share
MSC has been in the tin operation for the last 100 over years and will be around for a longtime. If one can hold out this present difficult time, there will be handsome dividend awaiting. By the way, iCapital owns about 2.9 million shares in MSC and I believe they are still holding it.
Aiyohh! 4.60 when did you bought it? Sunny, Tin is on a downtrend at this moment. London Tin & Shanghai Tin also down. Johotin also down. This downfall is NOT due to their companies performance but due to the Tin global impact. Wait for a while if you are in a strong cash-position.
"...deviated significantly from the unaudited loss after taxation and non-controlling interests of RM61.114 million ... now amounts to RM172.271 million."
financial year 2012 losses per share = -61.10 cents (latest info :and now for 2013...for just 1st and 2nd quarter , losses = -46.20 cents --------- this is company is in big big trouble...there's will be no solution at all !!!!!!!! -------- sell sell sell then run run run
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
jtpc2006
984 posts
Posted by jtpc2006 > 2012-08-09 10:57 | Report Abuse
hi petracot, please can you analyse the 2Q results? thanks.