Posted by telusdansuci > 2016-12-19 23:50 | Report Abuse

Thank you moneykj, my estimation for the share price of Pmetal can be easily shoot up to at least Rm 2.00 - Rm 2.50 . 90% of Pmetal's products is for export from as far as Brazil , Mexico & Europe . Pls read Press Metal's Annual Report 2015 in page 5, the Chairman's Statement despite low Lme price and the fire incident which was mentioned by moneykj . Pmetal boleh dan tetap boleh .

Posted by Investo > 2016-12-20 07:48 | Report Abuse

早安 Tuesday.............:-)
PMetal chart looks ok, hold up then later try 2 move up. Laugh

Posted by brgrfan > 2016-12-20 09:52 | Report Abuse

Morning Morning, Moneykj & Telusdanci thx for the input tat keep us motivated to hold & wait.

Posted by moneykj > 2016-12-20 10:52 | Report Abuse

Aluminium theme play very soon...

Posted by 360Capitalist > 2016-12-20 18:21 | Report Abuse

PMetal is a very good stock. The only concerns is huge USD loan exposure of USD639Million. Company might announce huge forex losses for coming quarter. From RM4.04 to 4.40, the jump in loan exposure in RM term is RM255mil additional burden for company.

Posted by moneykj > 2016-12-20 19:16 | Report Abuse

Sales denominated in usd can easily off set forex loss la bro...

Posted by telusdansuci > 2016-12-20 20:21 | Report Abuse

Moneykj, i will believe you more than that guy . Sama -sama faham sudahlah siapa itu orang . Pmetal boleh dan tetap boleh . Because due to jealousy .

Posted by moneykj > 2016-12-20 21:37 | Report Abuse

Ya lo, apa pun tak tahu hantam shj dia orang ini. Arank sudah jalan, Lbalum esok, Pmetal mana boleh tunggu lama lagi.

Posted by Investo > 2016-12-21 07:41 | Report Abuse

早安 Wed...........mid-week aready :-)
PMetal holding steady, in this weak market that is very good aready. Laugh

Posted by wikioon > 2016-12-21 12:18 | Report Abuse

good analysis from moneykj. al price suppressed because of strong dollar but given last year usd movement, correction coming soon - i still persist with al price hitting 1,800 in jan now. was too optimistic last week. next driving factor - pmetal may pay up to 5c (based on last year estimation), will prob push price to 1.85.

for those that hold, keep holding. at 1.70 pretty tough to go in now, but if you want short term gain, jan-feb prob hit 1.85.

Posted by Peanuts > 2016-12-21 23:06 | Report Abuse

Agree with moneykj, 90% of sales in USD. Correct me if I'm wrong.

Posted by Investo > 2016-12-22 07:10 | Report Abuse

早安 Thursday...........:-)
PMetal now steady so when market better, it can also up more. Laugh

Posted by telusdansuci > 2016-12-22 09:41 | Report Abuse

Investo, sudah tambah nilai atau belum ? Jika belum cepat-cepat tambah ya . Jangan tunggu lagi okay . Pmetal boleh dan tetap boleh .

Posted by Investo > 2016-12-22 12:39 | Report Abuse

Lunch time..........:-)

@telusdansuci, belum tambah la, dunn panik me. Laugh
i think still can catch more later, i hope.

Posted by Investo > 2016-12-23 07:51 | Report Abuse

早安 Friday...........Christmas coming aready :-)
Now everybody holiday, Jan then got new buying. Relax. Laugh

Posted by mamatede > 2016-12-23 14:41 | Report Abuse

Wait until all those big construction starting. This counter gonna reap from that..

Posted by och168 > 2016-12-27 11:45 | Report Abuse

My target for PMetal, RM2.30 in 6 months time

Posted by 360Capitalist > 2016-12-27 14:53 | Report Abuse

PMetal..Be careful. Bearish move just started

Posted by moneykj > 2016-12-27 19:20 | Report Abuse

It's possible. Greedy investment bank is trying..

Posted by 360Capitalist > 2016-12-27 22:54 | Report Abuse

PMeal will go to RM1.30 within one to two months,,

Posted by Bill_Gate > 2016-12-28 03:25 | Report Abuse

@360capitalist why you say so pmetal will move to 1.30 ? they gonna have a strong revenue in 2017

Posted by telusdansuci > 2016-12-28 08:16 | Report Abuse

Just prediction only . If really went down to Rm 1.30 , i think many people will be getting richer and richer . Pmetal boleh and CSC STEEL pun boleh . Investo , mana sudah pergi ? Tak komen pun ! My TP R M 2.00/= .

Posted by Investo > 2016-12-28 08:21 | Report Abuse

Posted by Investo > Dec 28, 2016 07:51 AM | Report Abuse X

早安 Wed...........back from holiday N mid-week aready! :-)
PMetal a bit weak, market also weak, can wait slowly collect lower.
No hurry lah. Relax. Laugh

Posted by nicky > 2016-12-28 08:43 | Report Abuse

Don simply create panic selling here without any analysis or data prove.. y don u say Maybank will go down to RM3.00 ?

Posted by 360Capitalist > 2016-12-28 09:50 | Report Abuse

Bill Gate... PMetal will report poor Qtr Report soon due to weak aluminium price and huge forex losses. Based on last quarter revenue announced revenue around USD 434Mil Vs Loan exposure USD 639mil, the negative impact will be quite significant. The Ringgit has been weakening by 10% sofar, forex losses from USD loan alone estimated RM255mil, even with additional revenue and profit from strong USD, it is still fall short of reporting good profit. I m just sharing my views only. Decision is yours.

Posted by wikioon > 2016-12-28 11:44 | Report Abuse

360capitalist what nonsense are you talking about? there are no forex losses from having USD loans. do you even know how fx loss come abt? having your revenue income denoted in USD is a natural hedge against USD loans. pmetal loan repayments will be settled in USD.

FX losses only arises when company has secured forward contracts to convert currencies (eg USD/MYR), if you look at previous quarter, fx losses are minimal meaning pmetal has made preassumptions that MYR will weaken, therefore they only hedge small portion of their USD. with the weakening of MYR this will relate to higher MYR revenue.

please understand basic financial knowledge before spreading negative views. the obvious reason for the downtrend volatility is that SEA countries are currently under pressure, majority of the counters will experience small downwards pressure. LME is holding steady at above 1700 (the highest in 2016, revenue for this quarter should be even higher)

Posted by investoo > 2016-12-28 12:09 | Report Abuse

There will be one off FX translation loss for the next quarter. PMetal unlikely to hedge the full amount of USD loans. Natural hedge is on revenue, cost and USD loan repayment, in accounting you have to recognise the full USD loan translation loss in your P&L. Beyond next quarter, the results will be good.

Posted by Bill_Gate > 2016-12-28 12:35 | Report Abuse

@360Capitalist Good point from wikioon do you agree ?

Posted by moneykj > 2016-12-28 13:53 | Report Abuse

I thought will dropped to 1.30. Happy die me lor..but Capitalist your statement on lme n forex loss laugh die me lor... no chance to add more lo, only give me false hope only..

Posted by telusdansuci > 2016-12-28 13:59 | Report Abuse

I don't understand why suddenly he create some negative news . Maybe he wants to buy at cheaper price . Anyway he must respond to Wikioon . Thank you Wikioon . Pmetal boleh dan tetap boleh .

Posted by 360Capitalist > 2016-12-28 15:39 | Report Abuse

MPSAS 4
The Effects of Changes
In Foreign Exchange Rates
The financial performance and financial position of an entity whose functional
currency is the currency of a hyperinflationary economy shall be translated into a
different presentation currency using the following procedures:
(a) All amounts (i.e., assets, liabilities, net assets/equity items, revenue, and expenses,
including comparatives) shall be translated at the closing rate at the date of the
most recent statement of financial position, except that
(b) When amounts are translated into the currency of a non-hyperinflationary
economy, comparative amounts shall be those that were presented as current year
amounts in the relevant prior year financial statements (i.e., not adjusted for
subsequent changes in the price level or subsequent changes in exchange rates).

Posted by 360Capitalist > 2016-12-28 16:06 | Report Abuse

As per last Quarterly Report, PMetal has the following loans exposures >
1)USD639 Million and
2) Reminbin 422 Million and
3) GBP 10 Million.
As reported in Financial Statement in RM term is RM 2959 million.

If we based in today exchange rate, the total loan in RM term is 3189.72 million, increase by RM230.72 million.

USD ex Rate : 4.483
RMB .. 1.55
GBP.. 5.50

Last Quarter Profit RM123 Mil VS RM230.7mil ( Loan increament In weak RM term)

Posted by mamatede > 2016-12-28 16:37 | Report Abuse

360capitalist your shared portfolio doing quite badly ... a lot of companies in malaysia have foreign loan exposure such as ioicorp, petronas, perisai, etc. However, with earning in USD and mainly involved in export. This is where the bright side is, and where they could hedge this forex difference easily by retaining profits in USD. Plus, Pmetal owned a big smelter in Sarawak and the state government owned a big chunk of it, price will be quite stable.

Posted by wikioon > 2016-12-28 17:01 | Report Abuse

Haih, let me explain in layman terms.
USD loan = repayment principal n interest in USD.
RMB and GBP loans = similar.

Revenue received in USD (directly service USD loans). extra USD convert to CNY/GBP (to service CNY/GBP loans). Currently USD on uptrend appreciate against CNY/GBP = cheaper servicing of loans in fcy denominated.

FX losses only incur when you go into forward contracts and the USD move unfavourably (eg you agreed to convert USD/MYR at 4.00, now its at 4.40 so you have to pay 400 pips.

360capitalist i hope the forum here is to educate others, not to scare others with unrealistic figures. all you are doing is converting ALL of pmetal loans into ringgit and saying that their quarterly will suffer because of currency movements. no one ever values fcy-denominated loans bck to their home currency, you only need to worry if pmetal revenue is denominated in ringgit, by which they will have to convert to usd to service loans, and may incur fx loss if usd move unfavourably,

Posted by 360Capitalist > 2016-12-28 17:38 | Report Abuse

No need to argue on Foreign Currency Denominated Loan accounting treatment, please check with any of your FC or CFO friend, We will see the numbers in next Qtr Report

Posted by MrPauper > 2016-12-28 17:47 | Report Abuse

I suppose 360Capitalist is referring to unrealised forex losses arising from retranslation of usd denominated loans into rm which must be recognised in the financial statements at the end of each reporting period.

Although its revenue is also derived in usd, 75% of it has to be converted into rm and if rm continue to depreciate then more usd revenue is needed to service usd loans

Posted by mamatede > 2016-12-29 01:38 | Report Abuse

Then just get the profit in USD to pay off whatever interest before consider the balance which 75% is translated to RM. isn't this better?

Posted by 360Capitalist > 2016-12-29 07:32 | Report Abuse

wikioon.. I am just sharing my knowledge on foreign currency borrowings effects on company P&L Your poor financial knowledge in a way can misleading general public into believing your arguement. For investors, at least they are mentally well prepare to face the possible reporting outcome rather than giving high expectations that can drive the share prices gap down horribly when quarterly result are not up to anticipations(Case like Gadang, TeckGuan).

For Q4, this one is important.
------------------------------------------------------------------------------------------------------------------------
Net foreign currency translation loss on foreign currency denominated borrowings
------------------------------------------------------------------------------------------------------------------------

Appended here with information that can sharpen Wikioon half past 6 accounting knowledge..
This format for year end Condensed Consolidated Statement of Profit or Loss reporting will be as appended:-

Revenue
Operating profit ( Share of results of associates + Share of results of joint ventures )
Profit before interest and taxation
+ Interest income
- Finance costs
******- Net foreign currency translation loss on foreign currency denominated borrowings****
Profit/(loss) before taxation
- Taxation
Profit/(loss) from continuing operations

Posted by Investo > 2016-12-29 07:53 | Report Abuse

早安 Thurs...........:-)
Ppl say market got window dressing. PMetal up so much aready this year no need window dressing la? Laugh

Posted by MrPauper > 2016-12-29 10:40 | Report Abuse

If not mistaken, the bank will automatically convert 75% of your usd receipt into rm immediately unless the company is able to provide supporting documentation that the usd currency is needed for payment of usd related transactions on the same day.

Posted by wikioon > 2016-12-29 10:50 | Report Abuse

i don't doubt anyone's knowledge on accounting treatment on foreign currency denominated loans and neither do i deny the existence of fx losses. maybe my opinion seemed to denote that.

my argument is based on the fact that these FX losses are not as BAD as 360capitalist makes it to be in trying to create a doomsday scenario. I quote his previous message, "The Ringgit has been weakening by 10% sofar, forex losses from USD loan alone estimated RM255mil, even with additional revenue and profit from strong USD, it is still fall short of reporting good profit."

Do you think any well-run company will allow full exposure into foreign movements? Do you not think Pmetal would have hedged their currency translation from myr to usd at an earlier rate? Incidentally they would have also hedged their translation from USD to MYR (prob at a lower rate, and this is where the FX losses will be recognised).

You may bring accounting knowledge and methods in trying to disprove me, but you as an investor have totally no qualms in understanding in the practical financial markets and real world market applications. side note: an increase in 255 mio denominated USD loans will only increase an estimated quarterly INTEREST repayment of (based on 3-mths USD interest of ~1.50%) of about USD 1 mio.

Posted by wikioon > 2016-12-29 11:10 | Report Abuse

MrPauper yes there is a such, however i believe that with addition to this ruling, banks are allowed to hedge up to 50% of their USD foreign currency exposure to USD with supporting docs.
And for the conversion i heard these are only for government related companies, not sure on this though.

Posted by 360Capitalist > 2016-12-29 15:06 | Report Abuse

Too bad, based on last quarter reporting, PMetal didnt hedge USD exposures.

Posted by wikioon > 2016-12-29 16:46 | Report Abuse

Yes they did, its inside their quarterly report. please understand that hedging works both ways, you don't just hedge the usd leg, you may hedge the myr leg too. and that is why revenue in usd is regarded as a natural hedge towards usd liabilities. if you have an unfavorable hedge to myr resulting in fx losses, your revenue will offset those losses.

Eg for last quarter, if you look at movement USD/MYR, it actually trended from high of June 4.10 to low of 3.96 in july. quarterly reported that pmetal made a loss on their hedging strategy (mainly because they are hedging for a higher USD) so wrong move for that quarter. If the same hedging strategy is in place (im only guessing), instead of FX loss we might see an increase in comprehensive income from favourable hedging movements.

just my 2cents, if you are a major investor in this counter try not to create a negative mood, or rather do back it up with something substantial.

Posted by telusdansuci > 2016-12-30 10:42 | Report Abuse

Each time before they " GORENG ", they will push down the share prices first . After that , they will push its up again . Don't worry because they are so many invisible hands on this counter . Pmetal boleh and CSCSTEEL pun boleh .

Posted by telusdansuci > 2016-12-30 10:56 | Report Abuse

Think rich to get rich .Rich people focus on opportunities and see potential growth and rewards . Never listen to all the negative news and nonsense . Pmetal boleh and Csc Steel pun boleh . I only believe the management teams .

Posted by wikioon > 2016-12-30 14:48 | Report Abuse

nice volume going on, looks like telusdansuci has some info. i eel like last year, late afternoon might surge up to 1.70

Posted by mamatede > 2016-12-30 19:09 | Report Abuse

For those that thought pmetal is similar with csteel, mycron and all. Pmetal is located in bintulu sarawak, not supplied gas by gas malaysia but from mlng directly. So much cheaper as the gas supplied directly through pipeline from mlng plant u like in peninsular where it need to depend on lng import from bintulu

Posted by Winwin98 > 2016-12-30 19:48 | Report Abuse

Pmetal charts looks good, hold and wait for move up.

Posted by dusti > 2017-01-01 17:57 | Report Abuse

May drift a bit lower. Have a little patience.