this is technical rebound...you have to remember alot of people stuck above RM4.70 to RM 6.50... and coming days will be margin call....current price entry will be suicidal...
1 off event already affected the full year results, unless 3rd quarter will make more to cover the 2nd half bad results. history repeat it self,old titan make MGO new lctitan in future also make MGO.but the MGO likely below the IPO price so they make a 2nd round like the retailer says....hahaha
KUALA LUMPUR: Lotte Chemical Titan Group Bhd, whose shares were battered after reporting a dismal set of second quarter earnings, managed to snap the two days of sell down.
At 10am, it was up 14 sen to RM4.42. Turnover was 7.32 million shares done.
The FBM KLCI rose 5.13 points or 0.29% to 1,770.26. Turnover was 377.87 million shares valued at RM234mil. There were 252 gainers, 222 losers and 285 counters unchanged.
Lotte Chemical was listed on July 11 at a revised offer price of RM6.50 instead of RM8.
The shares came under selling pressure on Monday after when its second quarter earnings fell 72% to RM113.61mil from RM404.03mil last year while its revenue fell 11.2% to RM1.77bil from RM1.99bil.
Lotte Chemical attributed the decline in net profit to higher product costs due to the high inventory cost carried forward from the first quarter’s turnaround activities and a water interruption incident in April 2017.
The water disruption caused its plants to shut down for 13 days and caused a decline in production of 75,000 tonnes.
Meanwhile, the lower revenue was due to lower sales demand during the festive season in June, as well as lower average selling prices.
@hng33,congrats to you for making a pile.But others don't need any "show of pity" remark from you. 2.We have to respect differing opinions.Let's share and put any available information,thoughts,opinions,news,comments about the stock on the table in this open forum. 3.The forumers will then be able to analyse,digest and collate the information to make a credible decision. 4.Every view and perspective on the prospect of the stock- to buy or NOT will not and be the same like you.That is market reality.
If not how can the market functions and works.But together with good news,comments,opinion make and share we hope everybody makes a good and wise decision.We want every forumer to win if possible.
KUALA LUMPUR (August 2): Shares in Lotte Chemical Titan Holding Bhd (LCT) rebounded today, rising 5.14% higher in morning trade, after a continued fall following its report of a 72% drop in year-on-year net profit on July 31.
The stock continued to fall yesterday, declining 5.32% in active trade and closing lower at RM4.28, compared to its initial public offering (IPO) price of RM6.50.
The integrated petrochemical producer reported a 72% drop in its net profit to RM113.62 million or 6.58 sen per share for 2QFY17, from RM404.03 million or 23.38 sen per share a year earlier.
Quarterly revenue fell 11% to RM1.78 billion from RM1.99 billion.
It attributed the lower revenue to a decrease in sales volume, due to the unplanned water interruption by Syarikat Air Johor (SAJ) in April 2017, coupled with lower sales during the festive holiday in June.
At 10.17am, Lotte’s counter rose 22 sen to RM4.50 with some 10.2 million shares traded.
A report by the Edge Financial Daily today revealed that LCT said was not aware that the water disruption at its Johor-based petrochemical plant would have such an oversized impact on its second-quarter earnings during its initial public offering (IPO), according to its president Lee Dong Woo.
Lee said the water shortages occurred in April, before the group went for listing adding that the full impact was not known to the company until mid-July — after LCT had already been listed.
Remark: Again, lotte poor Q2 result mainly due to water outage. Investor should look into next Q3 result which is month July onward, the time when IPO took place instead of over concern of previous one off event happen in April.
I'm real, I made 8k this morning, LCT has the oppty to trade and keep. still looking to buy some more.. those not doing anything might regret later, missing the boat in front of u. I might be wrong DYOR. hehe
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davidvestor
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Posted by davidvestor > 2017-08-02 11:25 | Report Abuse
buy back 4.49, hehe