SOUTHERN STEEL BHD

KLSE (MYR): SSTEEL (5665)

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Last Price

0.595

Today's Change

+0.005 (0.85%)

Day's Change

0.575 - 0.65

Trading Volume

2,044,300

Company warrants are issued by the company and give the holders the right, but not an obligation, to subscribe for new ordinary shares at a specified price during a specified period of time.

Structured warrants are proprietary instruments issued by a third-party issuer, namely an eligible broker or financial institution that give holders the right, but not the obligation, to buy (call warrants) or sell (put warrant) the underlying instrument in the future for a fixed price.

A call warrant is in-the-money when the exercise price is lower than the price of the underlying share.

A put warrant is in-the-money when the underlying share price is lower than the exercise price.

Loan Stocks

In the money

Discussions
2 people like this. Showing 50 of 4,658 comments

GoldmanSach

If 70% stakes sell at USD100Mil (RM470Mil) = RM1.13 per share

If 70% stakes sell at USD200Mil (RM940Mil) = RM2.25 per share

It will trigger "General Offer" for the remaining share if Quek selling his 70% stakes.

2023-10-25 22:07

Atacms

Another big institutional fund will buy I guess 😃

2023-10-26 11:54

Albukhary

Real deal, not fake rumour

2023-10-26 16:47

WiraBoleh

Tak tau kenapa HLBB mau jual...

2023-10-27 11:39

Atacms

No idea...Anyway I think demand for steel will rise due to robust construction activities

2023-10-27 11:49

Albukhary

We refer to the query from Bursa Malaysia Securities Berhad (“Bursa Securities”) via its letter dated 26 October 2023 in relation to the Article Entitled: "Tycoon Quek's Hong Leong considering sale of Southern Steel stake, sources say" appearing in The Edge Malaysia dated 25 October 2023.

The Company, having made due inquiry with its Board of Directors, its major shareholder and all such other persons reasonably familiar with the matter, wishes to confirm that as of the date of this announcement, it is not aware of any agreement involving the Company entered into by the major shareholder which requires disclosure pursuant to Main Market Listing Requirements of Bursa Securities (“MMLR”).

The Company will make the necessary announcement to Bursa Securities when it becomes aware of any material development involving the Company, in compliance with its obligations under the MMLR.

Shareholders and investors are advised to exercise caution in trading in the shares of the Company.

2023-10-27 14:14

Albukhary

This type of announcement make us more convince there is something brewing.

2023-10-27 14:21

Albukhary

Last time when The Edge first reported that Boustead have intention to dispose BPLANT, Boustead also announce that it has not aware about any agreement entered by its major shareholder LTAT.

2023-10-27 14:26

TiGongPoPiPopi

Post removed.Why?

2023-10-29 15:52

Jnlee

Mari lagi?

2023-10-30 13:32

Ahmadrazak

SSTEEL deal going to announce soon ?

2023-10-30 14:33

Ahmadrazak

Price up even company denied the news, meaning deal going to announce very soon.

2023-10-30 14:41

Albukhary

As I mentioned earlier, this is real deal.

2023-10-30 14:44

Ahmadrazak

Albukhary, 70% stakes in SSTEEL sell at RM750Mil ?

2023-10-30 14:48

Albukhary

As per my own calculation, RM750mil is the entire company market cap.
RM750mil / 600mil share, approximately RM1.25.

2023-10-30 15:00

Albukhary

This counter is being cornered d, floating share is very minimal.
Once the news is confirmed, then immediately will shoot above RM1.

2023-10-30 15:02

Ahmadrazak

Waooo, RM1.25 per share still got 50% upside from current share price 80sen now.

2023-10-30 15:09

Ahmadrazak

Pray for limit up today 97.5sen.

2023-10-30 15:12

newbie9893

confirmed limit up today

2023-10-30 15:14

Cnlim

then you better take all the seller 😄😄😄

2023-10-30 15:19

newbie9893

SSTEEL deal confirmed...kasih limit up

2023-10-30 15:24

Ahmadrazak

Last min sapu, deal look confirm

2023-10-30 16:41

MichelleNg

What deal confirmed? Tomorrow limit up?

2023-10-30 20:45

zildjian

will suspend anytime soon

2023-10-30 22:43

Ahmadrazak

Tan Sri Quek want to sell at RM2.30 per share.

2023-10-31 08:52

Ahmadrazak

Hong Leong Group looking to sell its 70% stake in steel manufacturer for as much as RM956 million.

PETALING JAYA: Southern Steel Bhd’s shares surged 31.25% or 18 sen on reports that billionaire Quek Leng Chan’s Hong Leong Group is considering selling its stake in the steel products manufacturer for as much as US$200 million (RM956 million).

It hit an intraday high of 74 sen before paring its gains and closing at 73.5 sen with 1.32 million shares traded. People familiar with the matter said the Quek-controlled Hong Leong Group is working with advisers on the planned divestment of its 70% stake, according to a Bloomberg News report.Should the deal go through at the higher range of the valuation, it would be more than double the company’s current market value of RM438.29 million. headtopics.com

Additionally, they said the conglomerate and its advisers have reached out to companies within the industry and financial investors in gauging their interest. Apart from Hong Leong Manufacturing Group Sdn Bhd and Signaland Sdn Bhd, which are members of Hong Leong Group Malaysia, its other shareholders include the founding business families based in Penang, according to its website.

Southern Steel was listed in in 1993 on the Kuala Lumpur Stock Exchange, now known as Bursa Malaysia.

2023-10-31 09:18

Cnlim

who is going to buy at such price?

2023-10-31 09:18

Ahmadrazak

Tan Sri Quek want to sell 70% SSTEEL at RM956Million. This equal to RM2.30 per share. Now share price only 80sen, still got 3x upside.

2023-10-31 09:19

Atacms

In that case, who wanna buy it if he sell at RM956 m as it's equivalent to RM2.30 per share 😅

2023-10-31 13:21

Atacms

even though SSteel is not so profitable, but it's able to make more than RM400 mil per quarter

2023-11-01 14:40

Albukhary

waiting for announcement

2023-11-02 18:34

Atacms

Quek will sell to MPI 😆

2023-11-03 15:38

newbie9893

bottom fishing?

2023-11-09 12:02

newbie9893

Hi big shark, bila nal goreng up lagi

2023-11-09 15:15

Atacms

Wait for anther announcement from Uncle Quek 😁

2023-11-15 14:21

stncws

look hot today....mycron.....steel QR this month

2023-11-15 14:23

AhHuat168

time to collect and keep

2023-11-16 16:58

Albukhary

Hong Leong cannot find buyer?

2023-11-28 12:55

Atacms

I guess so. Still waiting for the latest announcement on that ...

2023-12-04 16:44

Albukhary

Disposal proposal on table again? USD200mil?

2023-12-06 12:02

Cnlim

up you all will say proposal on table down say no deal haha

2023-12-06 12:51

Albukhary

@Cnlim, this is the fun part of being in the stock market.
When topic is hot, we add oil and fire into it, make it more hot.
When topic is cold, we put it into freezer quietly.

2023-12-06 13:30

Albukhary

Can you smell something is brewing?
USD200mil proposal is going to reveal soon...

2023-12-06 16:29

Albukhary

Cold cold winter again

2023-12-08 12:03

Atacms

@Albukhary. Mind to share the news link?

2023-12-13 13:36

Albukhary

You can google it, first news was from The Edge.

2023-12-13 14:03

value_seeker

Got news on 200?

2023-12-13 14:14

Atacms

Hong Leong started disposing .. I guess they found a buyer to buy over SSTEEL alrdy

2023-12-21 09:47

Atacms

But it made us wondering who the buyer was, hehe

2023-12-26 11:34

Atacms

Steel demand in India rises 11.3%; Icra adjusts FY2025 growth target to 9-10%

Read more at:
https://energy.economictimes.indiatimes.com/news/coal/steel-demand-in-india-rises-11-3-icra-adjusts-fy2025-growth-target-to-9-10/110662750

1 week ago

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