The Board of Directors of the Company wishes to inform that Leon Fuat Hardware Sdn Bhd and Supreme Steelmakers Sdn Bhd, the wholly-owned subsidiaries of the Company had on 28 July 2016 received letters pursuant to the Land Acquisition Act, 1960 on the Kuala Lumpur Land Administrator’s intention to hold land inquiry pertaining to the Compulsory Acquisition for the purpose of “Projek Mass Rapid Transit (MRT) Lembah Klang – Jajaran Sungai Buloh-Serdang-Putrajaya (SSP)”.
The two (2) affected plots of land are located at:-
(i) Lot No. 443, Seksyen 92, Bandar Kuala Lumpur, Daerah Kuala Lumpur bearing postal address No. 6A, Jalan Tiga, Off Jalan Sungai Besi, Kawasan Perusahaan Sungai Besi, Kuala Lumpur measuring approximately 2842 sq. meters (estimated land area to be acquired: 430.5316 sq. meters); and
(ii) Lot No. 507, Seksyen 92, Bandar Kuala Lumpur, Daerah Kuala Lumpur bearing postal address No. 8, Jalan Tiga, Off Jalan Sungai Besi, Kawasan Perusahaan Sungai Besi, Kuala Lumpur measuring approximately 3726 sq. meters (estimated land area to be acquired: 2915.2627 sq. meters).
The affected plots of land house the steel processing plant, office and warehouse of Supreme Steelmakers Sdn Bhd.
The Company will make further announcements on material development on the Compulsory Acquisition as and when required.
this is one of best steel company amount compare to others because LEONFB is a downstream steel company which profit margin is higher compared to the upstream steel industry. somemore its benefit from the current steel price increase from FEB 2016. LEONFB one of the competitor is HIAPTEK which recently trade with high volume.
This counter still very much undervalued, P/E 8.3. Looked at all previous QoQ and YoY, non of them in red even during challenging period where steel prices plummet.
If you guys bought it because of the quarter results, then you guys are in trouble. This is because results are the past, you must predict the future earnings.
There is a factor affecting steel companies' earnings. And share prices of all steel companies react in tandem with that factor. Go figure it out.
And the share price is definitely not influenced by what prominent investor or what directors pumping whatsoever.
soon LeonFB will cross RM0.55 due to better sentiment on rising steel products. Watch out for more positive news by looking at CSC, Mycron, SSteel, & Masteel.
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Posted by hionghiongki > 2016-04-07 21:22 | Report Abuse
Huat ahh !!