Thank you Edward. Good to see steel price increase again.

Wah... RM130 mil projects terminated..
Such a big project, sure a lot of expenses being incurred and capitalised so far.
Now it terminated, that means coming Q4 result sure you will see a lot of items being written off.

KUALA LUMPUR: Ireka Corporation Bhd’s (ICB) wholly-owned subsidiary, Ireka Engineering & Construction Sdn Bhd, has accepted a letter of award from Pantai Medical Centre Sdn Bhd worth RM60.74 million to complete unfinished refurbishment works at its facility in Jalan Bukit Pantai here.

In a filing to Bursa Malaysia, Ireka Corporation said the contract was expected to contribute positively to the group’s earnings for the financial years ending March 31, 2018 and March 31, 2019.

"The company does not foresee any exceptional risk other than normal operational risk associated with the contract,” it said.

Barring unforeseen circumstances, Ireka Corporation said the acceptance of the contract was in the best interest of the group. - Bernama

焦煤短期供应紧张价格上涨可能受国家煤价调控影响 前期商品价格普遍出现明显回调，焦煤期货价格下跌100元/吨左右，对于此次价格下跌从基本面上并不能找到很确切的解释理由，现货市场价格并没有出现明显的下跌现象，相反，从上周末现货行情来看，主流矿井纷纷出现调涨精煤价格的现象，并且焦化厂表示焦煤现货采购较为紧张，拿货不顺，这与短期期货盘面大跌情况有所违背。 另一方面在去产能和环保的压力下，十九大召开期间，焦煤市场可能会继续受到环保调查和限产的压力，供给方面呈现偏紧态势，进口煤价相对较弱现象，有可能被运输环节限制问题抵消，短期内，我们依然认为焦煤有相对上涨空间，但是介于煤炭行业受国家调控影响较大的大环境下，上涨空间必然有限，主要关注动力煤目前的上涨幅度较大，已经触及上方的调控红线，可能会受到相应的调控影响。 另一方面，钢厂利润目前依然保持高位，受利润传向上游传导效应，炼焦短期并没有出现大幅下跌，依然支持炼焦厂对焦煤的需求，短期回调继续保持强势依然可以值得期待。 短期供应紧张价格上涨可能受国家煤价调控影响 价格是基本供求关系的直接体现，而价差关系则是各品种基本面强弱不同的直接反映，因此，价差背后实际上隐含的是各品种基本面的实际对比状况。我们选取2013年以来焦煤的数据，进行炼焦利润分析。可以看出从2013年到2015年底炼焦利润从将近240元/吨持续走低，最终回落至-143，随后炼焦利润开始攀升，今年8月末达到617的高位后下降至目前的516，距离前期的焦厂平均利润仍处于高位，具有进一步下降的空间。 图1：焦化厂利润 资料来源：wind，海通期货投资咨询部 1、焦煤：供需弱平衡、焦厂积极备货生产 图2：上海镍锡价格走势及比价 资料来源：wind，海通期货投资咨询部 去年煤炭行业去产能效果较为显著，焦煤产量下降明显，今年产量较去年有所提升，1-6月焦煤供给量2.56亿吨，同比上升7.01%，从需求来看，1-6月焦煤总需求2.61亿吨，同比上升0.64%，虽然焦煤供给在进一步增加，但是目前焦煤市场依然处于紧平衡的状态，6月供给短缺16.09万吨。 图3：炼焦煤库存 资料来源：wind，海通期货投资咨询部 因为进口量减少，国内六大港口库存从4月中旬的377万吨下降到目前的223万吨，而国内独立焦化厂则从6月末开始持续补库存，到目前为止焦厂库存一直在增加，说明焦厂利润处于历史高位，厂商加紧生产备货。 2、焦炭：生铁产量季节性减少，需求阶段性疲弱 图4：焦炭产量 资料来源：wind，海通期货投资咨询部 焦炭的主要用途是高炉炼铁，从生铁生产的季节性图表可以看出，每年三四季度的生铁产量会出现下降，因此预计焦炭三地季度需求会有所减弱。 图5：焦炭港口库存 资料来源：wind，海通期货投资咨询部 焦炭港口库存随着6月初价格的上升也出现了一定程度的上涨，目前处在250万吨的高位。 图6：焦炭平均库存可用天数 资料来源：wind，海通期货投资咨询部 国内大型钢厂的焦炭库存可用天数处在近三年的相对高位，钢厂补库需求较弱。 图7：焦炭库存 资料来源：wind，海通期货投资咨询部 而国内独立焦化厂的焦炭库存从6月初开始下降，目前处在相对低位。因此从供需层面来看，预计未来几个月焦炭市场将处于供给偏强需求较弱的局面。 海通期货

Both Dutaland and Media have lousy management, but valuable asset.

Support Dutaland, coz personally think that the land disposal deal will be on.

No comment on media, because I'm not really familiar with its financial status, but I knew that after it acquired Rev's business, based on normal practice, sure a lot of goodwill / intangible asset need to write off. So coming quarter result may not be good.

Seriously, I feel that the deal with Dutaland will be on.

I have done some calculation, sharing here, hope it can benefit you guys.

Assume you are holding 30,000 BPLANT @ RM1.60 now, so your portfolio is RM48,000.

1) You should sell 10,000 Bplant at RM1.60, then you have RM16,000.

2) Use the RM16,000 to buy Dutaland at 60sen, then you will have 26,000 Dutaland.


Assume the deal is abort, Dutand land drop to 50sen, and Bplant go up to RM1.75.

So you still have 20,000 x RM1.75, plus 26000 x RM0.50 = RM48,000 (no change)


Assume the deal is on, Dutaland increase to 75sen, and Bplant drop to RM1.40.
So you still have 20,000 x RM1.40, plus 26000 x RM0.80 = RM48,8000 (gain RM800).

For me, Bplant is a dividend stock, no matter the deal is on or abort, the share price wont be fluctuate too much.

But Dutaland is different, if the deal on, the share price will anytime shoot to RM1.00. Even if it failed, maximum it drop back to RM0.45 only, because nowadays Dutaland is much much better than last time, it has cleared all its debts, and it owned many good property and land in KL and Sabah.

在股票市场有一段时间的人应该都明白，每一年里面我们的投资组合都会有上涨和下跌的时候，这是不能避免的。

重点在于，当股市上涨时，你的投资组合累积的赚幅是不是足以抵抗将来股市下跌的跌幅。
只要你能达到每一次的赚幅都超过跌幅，那长久下来你一定处于不败的地位。

When coke price reducing, coal price also reducing as well (and maybe reduced at a percentage more than the coke price)
So it mean selling price reduce, cost also reduce..
So the impact to gross profit margin is very minimal.

Edward123, can I ask you a question?

Which of the following stock are most popular and demanding? And how much is the contribution (%) to the overall sales of Southern Steel:-

a) Y16-32
b) Y10,12,Y40 & R10
c) R6,8,12,16,20 & 25

Can you roughly put a percentage for the above 3 category? Since (c) have no stock all this while, so its contribution should be 0%.

Poaylum, sorry to heard about your lost.
Reality is like that, you invest and hope to make some money, at the end you suffer lost.
Hope you earn back from other counter.

VenFX bro, Comcorp result is out, not good.
Is Comcorp doing the same business like EG?
Can we use comcorp result to predict the performance to EG?

Some people spreading bad news because they don't owned the stock, or they hope people will sell it so that they can buy it at lower price.

Some people spreading good news because they already owned the stock, and hope other people will come and buy it so he can sell it at higher price.

Then, the interesting part of stock market come in...

When the share price really come down, the one who spreading bad news no dare to buy, because the share is on down trend, and it doesn't look interested anymore, so they guys decided not to buy it.

When the share price really surge up, the one who spreading good news start to believe on the good news that spreading by himself, he start to believe this counter has more rooms to go, and whole market is discussing this stock, very hot, so he decided not to sell it, wait n see first.

一般来说，图表是反映市场买卖的工具。
它让你看到市场上的群众是在进货还是出货。
但是，对于有大鳄操控的股票来说，有时图表反而是一种大鳄用来误导散户的工具。

Windloud, I think you calculation are incorrect.

As mentioned by Zefftan, the consumption of graphite electrodes is around 3kg per tonnes (actually the real consumption should be lower than 3kg, as most of EAF claim that their consumption of Graphite Electrodes is between 1.5kg - 2.1kg only).
That mean, 1 tonnes of graphite electrodes can produce minimum 333 tonnes and maximum 666 tonnes of steel.

Assume the current price of ultra high performance graphite electrodes is RMB110,000, so it will equivalent to RM70,000. Based on Zefftan calculation, the average Graphite Electrodes price for previous quarter was approximately RM12,000, that mean there is an increase of RM58,000 for current quarter.

If we take RM58,000 divided into 333 tonnes, then maximum impact to the cost is only RM175 per tonnes.

If we take RM58,000 divided into 666 tonnes, then maximum impact to the cost is only RM87 per tonnes.

So your assumption of cost will increase by RM300-440 is incorrect, it should be maximum RM175 only.

Please correct me if my basis of calculation is wrong.

Very good information, thank you very much.

179173, I have no comments on this private placement, as I have no idea what Dato Lee is thinking.

Theoretically speaking, when a company issue private placement, the purpose is to raise fund.
However, if the purpose is to raise fund, why don't company announce it when they share price is staying above RM0.20, why purposely push the share price down to RM0.15 then only announce private placement. The lower price you issue, the lower fund you raise. So I think the main purpose of this Private placement is not for raising fund.

If this is not for raising fund, then for what purpose.

I have no answer, I left it for you to think. Maybe you can ask your remisier to check who are the buyer of this private placement.

I have nothing to fight with Datuk Lee, but I have time. I can put it in safety box for 5-10 years, wait until Datuk Lee push it up to RM0.60.

godhand, you mean LEONFB is a good counter to invest or bad counter to invest?

This is not a good comparison.
You should compare the share price begin from last year (i.e. 1st July).. then you will realise Annjoo share price has increased much more than the other 3 peers.

So now the rooms to growth is depends on the coming quarter profit, instead of claiming Annjoo share price movement is behind the other 3 peers.

心目中理想的合理价是：-

Annjoo - RM4.80
Ssteel - RM3.60
Masteel - RM2.20
Lionind - RM1.90
Leonfb - RM1.35
Huaan - RM0.45

不知道哪一个会先达到先。个人最看好SSTEEL, 但是同时也觉得HUAAN这只黑马很可能是第一个先到目标价，因为看好焦煤/治金煤 最近的走势，和非常吸引人的盈利。

如果SSTEEL突然来个1送1红股，我看应该会升到RM4.00左右。

Monday all comrade will huat again.

Yesterday night Metalurgical Coke price increase again (from 2216 to 2345), highest then the wednesday price.

https://www.investing.com/commodities/metallurgical-coke-futures-historical-data

Seem like this coming week will challenge RM0.30.

HUAAN annual capacity is 1,800,000 tonnes, so is equal to 450,000 tonnes per quarter.
Currently, all STEEL manufacturer and Metal Coke producer are running their operation at 100% capacity.

As a prudence investor, we should be very prudence when come to forecast.
Let said Huaan only produce 50% of 450,000 tonnes, that mean it is equal to 225,000 tonnes per quarter.

According to the article read from China website, the average profit margin is RMB300 per tonnes.

So 225,000 x RMB300 = RMB67,500,000.

RMB67,500,000 convert to Ringgit Malaysia will become +/-RM30,000,000.

Divided by 1,122,000,000 share available, then the EPS will be 2.6sen minimum.

The above is only using 50% production, if let said can achieve 70% production, the EPS will increase to 3.6 sen.

If EPS is 3.6 sen per quarter, then you guess how much HUAAN worth?

kikikiki....

This could be the last GEM in bursa... It could be suddenly go back to its glory time @ 60 sen.
Nobody know... Just ready yourself for that day to come.

Close eye and buy HUAAN la

Today will marching to RM2.40 again.

price4, you can refer to my previous comment, I have explained what is Paragraph 8.03A, and why I'm sure HUAAN will not being delisted.

This is just like Semenyih land 7-8 years ago, before SP Setia and Ecoworld start to acquire the land there. Last time, Semenyih terrace house 20ft x 75ft maximum can sell for RM250-350k, so the land at the not worth money. But after SP Setia and Ecoword acquired the land, they plan the township, and bring up the selling price from RM250k-300k to RM600-700k.

Why, because last time those land owner are not professional property developer, they don't know how to plan the township, they don't know how to maximise the revenue from the land. They are just sitting on the land, and waiting for Property Developer to acquire it.

Same scenario are reflect in Dutaland.

Most likely the land deal will be on. Actually the piece of land is very good potential, if not IOI Corp last time wont offer RM830mil to acquire it. Many people thought Bplant is paying a high price it, when they compare the revenue and profit generated from the land.

You guys must understand, Dutaland is not a p rofessional planter, they don't know how to manage plantation estate, and their internal control are very very bad. Dutaland has never have intention to become a plantation company, they boss hold the land is just waiting for it to appreciate over the years, and waiting for real plantation company like IOI Corp and BPLANT to acquire it.

I believe after BPLANT acquired the estate from Dutaland, BPLANT can release the potential of the estate. Given the size of 11k hectare, it should be able to generate RM250mil revenue, and based on minimum 15% profit margin, it can turn to RM37.5mil profit per annum, based on current CPO price.

If let said CPO increase by 20% in the next few years, the the profit generated from this land will be baloon to RM60-75mil per annum easily.

Somemore BPLANT is holding so much of cash now, so it must increase its land bank immediately, because land price are appreciate every year, you cant wait until CPO price stand above RM3000 then only acquired, by that time DUtaland will ask for RM900mil d.

Therefore, I think RM750mil is a fair and reasonable price, the deal sure will on.

谁敢抢我的偶像LEO大的钢铁行情的功劳，我跟他死过！！

Redeagle, yup no impact on Revenue, but you will see cash increased by RM66mil.
Cash is important for Digistar because investor are worry about its RM280mil bond.
If Digistar can have RM130-150mil cash on hand, then investor will feel comfortable.

Now everybody like HUAAN..

I believe one weeks before, almost no one know what is "Metallurgical Coke", but now, now at least everyone here know what is Metallurgical Coke.

I believe it will continue up again, until one day you heard the Makcik who selling goreng pisang at roadside also talk about Metallurgical coke, then you can start to sell d.

Wish everyone have a good weekend, bring your family member go to enjoy some good food, watch nice movie, let them feel proud of you.

Accumulate more.... good good!

Based on HUAAN past few day volume, its is very clear that someone with deep pocket is accumulating the share.

High chances it can be the old man KYY, because he has lost his reputation in XINQUAN, and since his EGO are so strong, sure he will find another counter to win back his money and reputation, and this counter must be someone who is very undervalue, related to China, and fulfill his golden rule (revenue and profit consistently grow for 2 quarter).

So, the best candidate who can fulfill all this requirement is HUAAN.

CharlesT, you are so geng. You made KYY cannot sleep for whole night and force to come out another article to clarify that his calculation is wrong.
Faster screenshot and save all the article, if not 2-3 months later, when Xinquan confirm to be delisted, KYY will delete all his post about Xinquan and maybe he will start shout that he has bought HUAAN at 3.5sen, and within 1 months surge up to 35sen, he made 1000% return, while KLCI only up 0.4% for that period...blar.. blar.. blar.

Datuk Wira very smart one, always collect when the share price dip below RM0.16.
669,900 unit x RM0.15 = RM100,335.

Although RM100k is not a big amount for Datuk, but it is still very meaningful, it convince that Datuk himself think that this company is undervalue.

Windcloud, you calculation are excellent!

I strongly believe EPS 0.06 are achievable. Even if only achieve 70%, there is still EPS 0.042 for Q3, and TP can be at least 62 sen.

Please refer to article below, SSTEEL have very great upside potential.

https://skyisthelimitskyisthelimit.blogspot.my/2017/09/southern-steel-q1fy18-eps-estimation.html?showComment=1504711075019#c2952293594385128762

Last month I went to Myanmar, having chance to chat with a Malaysian contractor which based on there for more than 10 years. At that time their steel price convert to RM is around RM3300, I think now September the price should further increase to RM3500-3600 d. Their steel is mainly imported from China.

This conversation proof that what Leoting claiming is correct, now Malaysia have the cheapest steel price compare with other country.

I believe this trend will continue for another few month to 1 year.

apolloang, after reading your comment above, I'm really surprise with your financial knowledge.

Alex Foo, in this type of business, they will normally maintain the Gross Profit Margin, instead of Gross Profit.

For example (not for reference, as I simply quote the price):

When coal price is RMB1000, then sell Coke at RMB1200. So the GP Margin is 20%, and GP is RMB200.

When coal price increase to RMB2000, they will try to maintain the 20% margin, so the selling price for coke will be RMB2400, and Gross profit is RMB400.

Conclusion, when raw material and final product price hike together, the profit are expected to increase, instead of maintain same.

Their Audit is Morison AAC. It is part of the Morison KSi.

Morison KSi is delighted to announce that it has been ranked in the top three in the recent Asia Pacific, Malaysia and South Korea International Accounting Bulletin’s association surveys.

Morison KSi ranked third in terms of total revenue and second in terms of staff in Asia Pacific. In South Korea, Morison KSi ranked first in terms of total revenue and in terms of staff. In Malaysia, Morison KSi ranked first in terms of total revenue and joint third in terms of staff.
The International Accounting Bulletin provides exclusive surveys of accounting firms in leading and emerging markets, delivering over 20 country and regional surveys per year. Morison KSi participates in a large number of these surveys including the annual World Survey which ranks global associations and networks. Congratulations to Morison KSi’s Asia Pacific, Malaysian and South Korean member firms.

Manage to collect 50 lot at RM0.19 just now.

The Edge news reporting is trying to scare investor by highlighting that HUAAN has no regularistion plan and will be subject to delisting.

Q&A Session come again:-

1) Q: you guys need to understand why BURSA put HUAAN under Paragraph 8.03A of Main Market Listing Requirement?
A: This is because on Year 2015-2016, HUAAN has lease it entire factory to 3rd party for 1 years, and this cause HUAAN has no operation revenue for the whole year. According to Paragraph 8.03A, a company must maintain a level of operation in order to continue to listed in Main Market. For HUAAN, since it has no operation revenue at all at the period, that why it fall under the Paragraph 8.03A.

2) Q: Will HUAAN be delisted soon due to non-complied with Para 8.03A?
A: Of course NO la, as HUAAN has take back the factory and re-start its own operation since Feb 2017. Please look at last two quarter report, revenue is up to RM259mil and net profit is RM21mil, there is no reason for Bursa to delist such a good revenue and good profit company.

Hong Leong Invest, why there is no Tech counter and Steel Counter in your picking?

The game is like this, someone must sell for it to continue go up, if no one sell, then it wont be a healthy trend.

My remiser client just sold 100 big lot of Air Asia to buy 1500 big lot HUAAN, and still have extra cash to go book a 7D6N trip to Japan with his wife.

Seem like this Mohd Fahmi Bin Jaes is fully loaded with bullet to hunt for bargain share, and he keep on posted Dow Jones - 234.25 point in all the popular thread.

CharlesT, good analysis, we need fact and figure like what you just did to tear off the mask of the old man.

This old man is really too ego and he always thought the forumer here are idiot.

Many investor here are worry that Huaan Metallurgical Coke Production may not fulfill the China Environment Protection and Pollution Control Rules... Actually, you guys not need to worry. Back to year 2014 & 2015, China Government has already force Huaan to stop its production and force it to upgrade its facility and make sure it complied with the Environment Protection and Pollution Control rules. And since then, the Local Government has done their assessment on Huaan, and Huaan has gotten their approval to continue operate, as Huaan has fulfill all the requirement set by the government.

Below are some old news on Oct 2015 for your reference:-

" The group had previously temporarily shut down the operations of its subsidiary in Linyi city on March 11, in compliance with the local MoEP's directive for all steel mills and coke producers to stop production temporarily until assessment by MoEP is concluded.

The unit's coking ovens have been temporarily shut down in line with the Ministry of Environmental Protection of China (MoEP)'s effort to compel all industries that are perceived to be polluting to meet newly revised environmental protection standards.

In a filing with Bursa Securities today, the group said that Oven number Two, Three and Four are expected to commence commercial production by Oct 17, Nov 1 and Dec 31 respectively.

It added that repair work on Oven number Five is expected to be deferred until industry prospects improve. "

煤焦期价曾有所回调，但是近期山西煤矿安全事故引发焦煤供给下降预期，加上下游钢材(4064, -24.00, -0.59%)需求将步入旺季，煤焦需求良好，支撑焦煤期现价格。

　　今年供给侧改革的重点在钢铁行业，与去年煤炭行业实行276个工作日减量生产政策相比，钢铁行业去产能最大的亮点在于彻底清除了大量低端、无效产能，提高了钢铁行业产能利用率，保证了环保达标、有竞争力的钢厂取得合理的利润。7月25日发改委表示，今年前5个月已完成全年化解过剩钢铁产能任务的84.8%，到6月末地条钢按计划出清。上半年清理地条钢使得高炉使用废钢量有所上升，生铁与粗钢产量差距拉大。

　　地条钢产能出清后钢铁市场维持着供小于求格局，受制于石墨电极供应不足及电炉生产技术落后等原因各钢厂电弧炉新增产能短期无法释放，预计8、9月份钢材市场供应偏紧仍将延续。前期钢材价格与原料价格同步上涨，螺纹利润维持在1000元/吨以上，热卷利润也上升至800元/吨左右。

　　今年下游需求高位运行支撑煤焦价格上涨。统计局最新数据显示，7月全国生铁产量为6207万吨，同比增长5.1%，7月份粗钢产量为7402万吨，同比增长10.3%。由于中频炉去产能后钢材存在一定供应缺口，为了实现利润最大化，今年钢厂纷纷推迟高炉检修时间，在淡季依旧维持满负荷生产，且有个别长年关停高炉计划于8-9月份复产，因此煤焦需求高位运行，支撑了煤焦价格上涨。

　　具体来看，上周末全国钢厂高炉开工率略有上升，近期全国高炉开工率偏高水平运行，加上有高炉计划复产，近期煤焦需求良好，华北地区部分焦化企业正在酝酿第六轮提涨。钢厂及独立焦化企业维持高开工率加快了炼焦煤消耗速度，目前华北地区大部分独立焦化企业利润已经上升至300元/吨上方，采购炼焦煤热情高涨，目前独立焦化企业炼焦煤库存已明显高于历史同期水平。

　　十九大之前安全检查加强对煤炭的供应有较大影响。从产量数据来看，7月原煤产量2.94亿吨，同比增长8.5%，7月焦炭(2297, 0.00, 0.00%)产量3728万吨，同比增长0.1%。与生铁产量增速相比，焦炭供应存在缺口，而煤炭企业因执行330个工作日，产量较去年同期有所提高，但与14、15年同期相比，原煤产量同比是下降的。经历了去年的去库存后煤炭企业经营状况明显好转，生产积极性较高，不过随着十九大的临近，安全检查趋严，这使得煤炭企业对加快生产节奏较为谨慎。

　　综上所述，由于下游钢厂高利润背景下煤焦需求较为理想，加上安全、环保等因素对煤焦供给有一定影响，随着钢材旺季的到来煤焦需求有望阶段性上升，在取暖季“2+26”城市钢厂大规模限产前焦炭、焦煤或将维持偏紧格局。因此，虽短期调整，我们认为煤焦期货有望继续保持强势。