"Exports of manufactured goods in September 2021 reached its highest monthly value at RM94.86bil or 85.6% of total exports, grew by 21.6% y-o-y.
"Petroleum products, manufactures of metal, E&E products, chemicals and chemical products, palm oil-based manufactured products, other manufactures especially solid-state storage devices (SSD) as well as iron and steel products respectively registered more than RM1 billion expansion in exports," said Miti.
Big surprise, although the MCO, 3Q earning (EPS: 11.34) was better than 2Q (EPS: 9.76). 9M EPS (32.75) is more than 3 times better than FY2020 (EPS: 9.21).
Four times net profit 136m VS 28m and EPS is 41 VS 9 compared to Yr 2020. QoQ drop but still consider outstanding performance on Yr 2021 and by current price still consider undervalue. Market demand still very high.
production of welded steel pipes with existing Phase 1 of the facilities having 2 production lines. Another 2 new production lines are currently being installed at the same facilities to optimise its production capacity and are expected to commence commercial production in the second quarter of 2022. We have also embarked on Phase 2 of the facilities which is only expected to be fully commissioned in the second half of 2023. FY 2022 estimate turnover easily over 1B, EPS maintain over 41c i think not the promblem.
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