Covid 19 pandemic which started 2 years ago has been depressing almost all the listed stocks because workers cannot go to work during MCO lockdown. Among all the listed stocks, steel stocks have dropped the most. As shown on the table below, all the listed steel stocks are at single digit PE ratio.

I left out Lion Industries because it has reported losses. I also left out Choo Bee because the daily traded volume is very small.

Covid 19 cases in Malaysia

Malaysia has done very well as far as the management of the Covid 19 pandemic is concerned. In August we have more than 22,000 daily-new Covid 19 cases. The number of Covid 19 cases is dropping very rapidly. On 10 Jan we only have 2,841 daily new Covid 19 cases. The 7-day average number of new daily cases was only 3,117 as shown on the chart below. 

Although our current Malaysian Government has done many things wrong, it has done very well in the control of the spread on the corona-virus. Currently, about 80% of our population have been fully vaccinated with 2 doses and about 25% of our population have the booster shots.

Out Look for steel stocks

Investors must bear in mind that currently there is no more MCO lockdown and there is more construction activities. As a result, all the steel companies should be able to report better profit in the next few quarters.