Steel companies are cyclical and if you are a long-term fundamental investor, you should look at the performance over the cycle. Over the past 14 years (covering several steel cycles), the company ROA averaged 4%. This is even lower returns than the EPF. But you have to look at the sector. During the same period, the mean ROA for the Bursa steel companies averaged 1%. So Prestar did better than the sector. But are there better steel companies. If you want insights into how the steel sector performed go to https://focusmalaysia.my/its-been-a-tough-12-years-for-bursa-malaysias-steel-companies/
Good management . Paid more than 5% share and cash dividend for past year even when poor business environment. Show that management take care of business and also shareholder. See you at 90 sen in 2024.
@wongcheehui8383 nice~ I only pay attention to this counter after yesterday QR report, the only thing I don't like with steel counter is that the counter price is too much influenced by steel price. but since now there is 2 years moratorium and steel price is quite stabilized, plus huge NTA discount here. I think it should be very safe to park here for another 3 months until next QR unfold
just had a glance over some other not so fundamentally attractive steel counters, it seems steel play is very long due, especially after moratorium announcement true rally still no start
I will be loading up this counter as well. Use to be one of the bursa star which I missed out earlier. But I have the confidence that they will again shine one day. Thank you.
More good news coming for steel. Pre star one of the beneficiaries for government latest move on using local steels in building data centre. Remember lots needed not only for external buildings but the racks used is a lot. https://theedgemalaysia.com/node/717473
Hiaptek moved nearly 10%. Prestar engine about to start. Some of Prestar products are boltless shelving, pallet racking, automated storage and retrieval systems, racking systems and storage equipment
I have completed my collection for this counter last week and will update again when I start to sell. At the meantime, I will be collecting another counter. No, it is not synergy as I am still monitoring it closely at the moment. I will start when things are clearer. Will just focus on my collection for unnamed counter for now. Wish all the best. ✌️
sold all prestar at 0.440 (9.00am, 29 august 2024) disappointed with QR, seems this sector is not good at this stage. better quit and go other counter first
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Kyy Sell la