Posted by kenneth89 > 2015-04-27 09:23 | Report Abuse

DOWN NOW

Posted by galfriday2 > 2015-04-27 09:51 | Report Abuse

just heard from someone friday down is cos 1mdb cancelled 2 projects which could benefit pmetal and also the china factor

Posted by Alex Chan > 2015-04-27 10:10 | Report Abuse

The potential threat is the eventual dumping from China similar to the steel industry...
It could all downhill from here baby

Posted by fortunebullz > 2015-04-27 10:14 | Report Abuse

Hehehehehe! Finally manage to buy 2.90!

Posted by Alex Chan > 2015-04-27 10:39 | Report Abuse

Technical rebound over

Posted by BURSAMASTER > 2015-04-27 10:50 | Report Abuse

http://klse.i3investor.com/servlets/ptres/29703.jsp

Posted by LaoLiu > 2015-04-27 12:08 | Report Abuse

Reversing down now after a morning session of High at 2,980, any advise can buy at what prices?

Posted by Alex Chan > 2015-04-27 12:17 | Report Abuse

2.60, 2.30

Posted by VIWizard > 2015-04-27 12:22 | Report Abuse

5.41

Posted by adrian0229 > 2015-04-27 12:59 | Report Abuse

where can i view the aluminium price? which 1 is accurate ?

Posted by Equityengineer > 2015-04-27 13:02 | Report Abuse

LME aluminum search for it ... or KITCO

Posted by yongyou > 2015-04-27 14:00 | Report Abuse

Kenanga TP5.41

Posted by tianjin > 2015-04-27 14:01 | Report Abuse

Go www. quotenet.com and lock in commodities , you can find Alluminium under Industrial Metal . You can see real time quote of various commodities .

Posted by tianjin > 2015-04-27 14:31 | Report Abuse

Go www.quotenet.com , lock in commodities , look at Industrial Metal and you will have alluminium pricing , click on Allu and you will have actual Realtime quote .

Posted by adrian0229 > 2015-04-27 14:48 | Report Abuse

thanks...2.88...what is the best time to accumulate ya?

Posted by Jeffyap > 2015-04-27 14:50 | Report Abuse

collected a lot at 2.88 haha!

Posted by John Roll The Dice > 2015-04-27 14:52 | Report Abuse

Kenanga Research - Outperform
TP : RM5.41

Posted by cipapo > 2015-04-27 14:52 | Report Abuse

TIPU

Posted by adrian0229 > 2015-04-27 14:55 | Report Abuse

cipapo...please elaborate

Posted by VIWizard > 2015-04-27 16:12 | Report Abuse

yummy bought lot too

Posted by 8u29song > 2015-04-27 16:28 | Report Abuse

ok, now 2.88, panggil itu lori mari !

Posted by adrian0229 > 2015-04-27 16:33 | Report Abuse

2.86...omg

Posted by 8u29song > 2015-04-27 16:41 | Report Abuse

just standby, wait for those contra players cleared first...maybe 5-5-15

Posted by 8u29song > 2015-04-27 16:42 | Report Abuse

some one mentioned 2.80, really sharp good observation !

Posted by turbo88 > 2015-04-27 17:07 | Report Abuse

drop....continue to drop....will accumulate at 2.36

Posted by robert168 > 2015-04-27 17:53 | Report Abuse

logical la.. 2.36 !! don't make laugh plz...

like it or not Pmetal is one of the big player for aluminum manufacturing in the world.. they are producing good quality of aluminum not like some country and the price are much more cheaper with good quality..

have a check why someone want to slash the export tax??? they cant compete with higher price and export tax.

sell more regret later !!! haha... buy more !!

cheers ~~~

Posted by mars1069 > 2015-04-27 18:59 | Report Abuse

i bought 2.65 about 2 months back and sold it at 3.45 few weeks ago, so no surprise to see its price is 2.86 now, and nothing to be shock if it goes back to 3.4...

Posted by tsyjj > 2015-04-27 20:30 | Report Abuse

Buy buy buy.......

Posted by chome > 2015-04-27 22:54 | Report Abuse

The Chinese Government’s surprise move to scrap the export tax on
aluminium rods and strips may not add pressure on already-depressed
aluminium prices. However, we cut our numbers for Press Metal. Our
TP falls to MYR4.37 (51% upside) as the new policy may temporarily
undermine the potential aluminium price rebound. The stock is our
long-term BUY due to its low-cost smelters and Phase III expansion.
 Surprise change in policy. Last week, the Chinese Government
announced its plan to scrap a 15% export tax on rods and strips made
from primary aluminum with effect from 1 May. We also hosted a
conference call with Press Metal’s management as the company’s share
price fell following the news.
 Limited downside but temporary keep the upside. Indeed, the move
was an unpleasant surprise for the market, as it was the opposite of what
most investors expected – that the Chinese Government may close the
outdated capacity or remove the value-added tax (VAT) rebate ranging
from 13% to 17% for certain value-added aluminium products, in order to
discourage exports. We concur with Press Metal’s management that the
latest policy change will have little impact on the aluminium market
outside of China, mainly because the London Metal Exchange (LME)
aluminium price and physical premium paid on top of the LME rate by
the rest of the world has continued to slide to very distressed levels,
while the China’s domestic aluminium price (which refers to the
Shanghai Futures Exchange (SHFE)) found its support at the
CNY13,000/tonne level. Although, the economics of exporting aluminium
products from China are not at work at the moment, we think this may
have kept the potential rebound on aluminium price outside China going
– as any increase would open room for China to export more aluminium.
 Reiterate BUY with a lower MYR4.37 TP. We cut our earnings
estimates for Press Metal by 20.7-23.1% for the next three financial
years after imputing the lower aluminium price assumption. That said,
our new TP – derived from a 20% discount to its DCF value – of
MYR4.37 still offers a decent 51% upside, thanks to the company’s
proven low-cost smelter which is in the first quartile of the global cost
curve, and its on-going Phase III expansion that offers decent growth
potential. Thus, we maintain BUY, but we do expect some headwinds for
its share price over the short term after this latest development

Posted by chome > 2015-04-27 22:54 | Report Abuse

China moves to cut the export tax on aluminium products. Bloomberg reported
last week that the Chinese Government announced its plan to scrap a 15% export tax
on rods and strips made from primary aluminum effective 1 May. Meanwhile, most of
the industry experts quoted by the mainstream press last Friday morning think the
move may send aluminium prices lower amid ample supply. Another popular reason
cited was that China continues to add aluminum capacity as smelters elsewhere
struggle to cut enough supply. The news sent Press Metal’s share price downwards
by as much as MYR0.42 last Friday. While the stock managed to regain some earlier
losses by the end the day – it closed last week at MYR2.90 – its share price was still
down by 10.5%. 22.8m Press Metal shares changed hands on Friday – the single
largest volume traded in a day since its listing. We promptly organised a conference
call on the same day to give institutional investors an opportunity to hear the news
directly from management and its take on the latest development.
Negative surprise. Indeed the move came in as a major surprise to us and the
market in general, where hopes have been high that the Chinese Government would
shut down the outdated capacity and eliminate the VAT ranging from 13% to 17%,
which has been used as a loophole by some exporters to earn a handsome arbitrage
profit from exporting “fake” aluminium coils or other value-added aluminium products.
We believe the drop in Press Metal’s share price can be attributed to China’s move,
which is totally opposite of what the market was originally expecting. This may also
leave investors wondering if there are more changes in the future by the Chinese
Government encouraging the export of aluminium.
Management sees little impact from latest policy. During our 45-minute
conference call with Dato’ Paul Koon, CEO/founder and Mr David Tan, head of Press
Metal’s corporate affairs, both believed that the latest tax cut would have a minimal
impact on the aluminium market for the rest of the world outside China. They pointed
out that the export tax is only removed for a specific category of aluminium strips,
bars and rods that are produced in smaller quantities. Dato’ Paul also said the
economics of exporting those aluminium products do not work at the present price
level – as the all-in aluminium prices outside China have declined while China’s
domestic price of the commodity has found strong support above the
CNY13,000/tonne level. Furthermore, those products are still subject to the 13-17%
VAT that reduces China’s competitiveness to export.

Posted by chome > 2015-04-27 22:55 | Report Abuse

Reiterate BUY, but a lower TP of MYR4.37. After accounting for all the adjustments
mentioned above, our DCF value rises to MYR7.9bn. Considering that the realisation
of earnings from Phase III is expected in FY16, we continue to apply a 20% discount
to the stock’s DCF valuation to derive a new TP of MYR4.37 (from MYR5.53).
Therefore, we reiterate BUY on Press Metal, which remains our Top Pick for the
basic materials sector.

Posted by chome > 2015-04-27 22:55 | Report Abuse

From RHB.

Posted by tsyjj > 2015-04-27 23:09 | Report Abuse

Thank you chome, i heard this morning fm RHB too

Posted by Elvin Beh Chun Yen > 2015-04-27 23:27 | Report Abuse

tomorrow....back to 3.4? :)

Posted by chome > 2015-04-27 23:35 | Report Abuse

the report is more than 10 pages. i cant post everything here. for those who are interested can check RHB website. Busy Weekly Issue 316 has full coverage on PMetal, it also mentioned why this company has strong competitive advantage against its competitors.

Posted by Unbeatable Nick > 2015-04-28 08:13 | Report Abuse

LME aluminium gained further at 1837

Posted by genesis81 > 2015-04-28 08:37 | Report Abuse

lets accummulate!!

Posted by adrian0229 > 2015-04-28 09:35 | Report Abuse

drop...how?

Posted by Howard Tan Jin How > 2015-04-28 10:29 | Report Abuse

Drop till 2.6 buy

Posted by Hsien Hui Yeoh > 2015-04-28 12:59 | Report Abuse

Momentum Idea - PMETAL
PMETAL: ripe for a technical bounce

§ The recent 15.6% slump in four days to end at RM2.86 yesterday as investors fear the surprised China’s government decision to remove export taxes on bars and rods of primary aluminium and aluminium-alloy effective 1 May.

§ At RM2.86, PMETAL is trading at undemanding 7.2x Bloomberg FY16 P/E, 44% below its 10-year historical average P/E of 13x, supported by an EPS CAGR of 17.8% for FY15-17 and decent dividend yield of 4.5%-5.2%. Hence, we advocate investors to take this opportunity to buy on weakness given that PMETAL’s fundamental and prospects remain intact

§ Technicals are grossly oversold. Risk taker can accumulate for technical rebound. A decisive breakout above immediate resistance of RM3.00 will lift prices higher towards RM3.20-3.30 zones. Cut loss below RM2.70
Hong Leong investment bank

Posted by adrian0229 > 2015-04-28 13:59 | Report Abuse

tomorrow will be another red?

Posted by Hsien Hui Yeoh > 2015-04-28 14:28 | Report Abuse

Hong Leong and kenanga initiated BUY call ! Pmetal supporter!

Posted by stockworm > 2015-04-28 15:08 | Report Abuse

Market does not look good . Investers dump their shares to get cash . most likely we will see red the next 2 days.

Posted by turbo88 > 2015-04-28 15:44 | Report Abuse

it will drop and drop....and then drop further...accumulate at below 2.5

Posted by ivankvs > 2015-04-28 16:10 | Report Abuse

^_^

Posted by xn7891 > 2015-04-28 16:40 | Report Abuse

consider good result for the audit report?

Posted by fortunebullz > 2015-04-28 20:02 | Report Abuse

Bought too early! Ouch!

Posted by Vaylens Chong > 2015-04-28 20:05 | Report Abuse

Bought to keep then. :)

Posted by Hsien Hui Yeoh > 2015-04-28 20:58 | Report Abuse

Just manipulated by fund manager to scare off the short term player

Posted by sengkee > 2015-04-28 21:34 | Report Abuse

Let's see tomorrow.