Thanks 360Capitalist for the information. But now looks like the price of PMETAL is heading south after ex-dividend back to the RM6.00 - RM6.05 region next week.
With aluminium price rally to new high since 2013 and pending bonus issue 1 for 1, the price should move higher after ex-dividend.. Any downside is good for further buy.
It is like small and little fish versus the big and large fish. It has been like this since the bonus issues is announced. 7 days of downward consolidation already since the announcement. So today it closed at 6.16. Next Monday, it will start with 6.11 after giving the 5 sen dividend. Easily the big and large fish will push it down to the 5.95 to 6.05 region. Can start adding.
RM6.25 - RM6.30 region has proven to be a very hard nut to crack. Fail to pass through it three times, i.e. 12.08.14, 13.08.14 and 21.08.14. Don't know when can break through it? Don't tell me after ex bonus only can break through it, i.e. with a price of RM3.15 and above.
Joel, Bonus Issue wont be at Sep to Oct i guess. First, They need to submit to Bursa for approval first then Will call for EGM then only will announce the entittlement date... If everything going smoothly then Should be on November i guess...
Regarding the ex-date of bonus issues, it all depends on the efficiency of the company. For example like GKENT, the bonus issue was proposed on 30.6.2014 and the ex-date is on 27.8.2014 (less than two months). Like OKA, propose on 11.07.2014 and got approval on 31.07.2014 (so fast) and EGM on 28.08.2014. So, PMETAL proposed on 12.08.2014 and should get the approval on 03.09.2014. Thus, if PMETAL is efficient, then Joel's forecasted ex-date could be possible but I hope it will be in middle of November close to its 3rd quarter profit annoucement. According to Mr 360Capitalist, it could be higher than RHB forecast of RM90 million due to the rising aluminium price.
Normally it takes only 10 days for a company to summit the applications of bonus issues to Bursa Malaysia. Why PMETAL has not announced the submission of its application at its website? 13 August 2014 proposed. Next Monday is 25 August. Already exceeds 10 days. If by next week, still no such announcement, something is wrong. The undertaker is Maybank IB.
The bonus issue will happen and my estimation timeline of completion by October. While based on PMetal past track records, it usually jump up minimum RM1.00 or more within 2 weeks because of favorable uprising LTE aluminium price (LME), premiums and etc. It is still in very early stage of fundamental run. We should be able to see the price cross RM10.00 before exBonus issue. Again, this is my personal judgement only and not mean to lure any party to buy into PMetal.
For me, now is best time to Buy aggressively. The stock will 'skyrocket' anytime,,
PMETAL 1H net profit 101.055 million (increased 102.52%). Joel, PMETAL website reported that its 1H net profit is 101.055 million, definitely not 88.1 million. I think it has already been factored in its share price.
Current Year Quarter, Preceding Year Corresponding Quarter, Current Year to Date, Preceding Year Corresponding Period 30/06/2014 30/06/2013 30/06/2014 30/06/2013 RM '000 RM '000 RM '000 RM '000 1 Revenue 1,000,213 795,343 1,897,318 1,519,586 2 Profit/Loss Before Tax 83,584 26,848 119,973 62,168 3 Profit/Loss After Tax and Minority Interest 60,026 20,041 88,057 45,287 4 Net Profit/Loss For The Period 73,622 22,821 101,055 49,899 5 Basic Earnings/Loss Per Shares (sen) 11.57 3.95 17.03 8.91 6 Dividend Per Share (sen) 5.00 1.00 10.00 1.00
12/08/2014 07:00 AM
Which one are we refering to? Anyway it is not important anymore. Already factored in.
The most important thing now is new catalysts either new record high of aluminium price or approval of the bonus issues by Bursa Malaysia. Now both also not yet reach. How to rally above 6.25 - 6.30 region?
For Q3' 2014 and Q4 .. conservatively minimum profit achievable is RM90 mil per Qtr .. which translate to EPS per Qtr 16.8 cents .. Dividend per Qtr,, minimum 5 cents based on 30% to 40% dividend policy.
Dato Koon Poh Keong, Group Chief Executive Officer, Press Metal Bhd, discusses its share price rise, the recovery of the global aluminium sector and his historical challenges. He also talks about its China operations, its financials and forecasts, its expansion plans for more smelters and value-add in the auto sector. Lastly he discusses environmental concerns with its aluminium smelter plants in Sarawak.
BFM radio interview with Datuk Paul Koon, Group CEO of Press Metal Berhad
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....
hummingbird
72 posts
Posted by hummingbird > 2014-08-22 10:48 | Report Abuse
pmetal hari hari naik!