http://klse.i3investor.com/files/my/ptres/res22696.pdf

I just realized not many ppl will read the full report. Since it's a hol today n m quite free, I'll try to extract some key points fr TA Securities report here:

Target Price :RM0.675/share.

PER ratio of 20x against CY15 EPS of 3.6sen.

Key buying/selling points for IRIS include:
1) Ability to provide solutions to key global concerns (such as poverty, pollution, food safety, employment and education);
2) Presence in 25 countries (good relationships with key government officials);
3) Synergies from FELDA being its single largest shareholder (26%)

RedEagle, Wesak Day lah today! Hahah!

tiennhieu
206 posts
Posted by tiennhieu > May 13, 2014 09:27 AM | Report Abuse

http://klse.i3investor.com/files/my/ptres/res22696.pdf
can anyone tell what is this permit concern about?
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This is a mining permit - to mine Diatomite reserve worth xxx billions USD. Read report. Current price for diatomite is usd200-300 per tonne.

Johny, dun so worry. 5 reasons why ( hehehe!) :
1) not China based stock. ( known for eat ppl until bones oso swallowed). If bank like that, will earn bad reputation, next time no one will buy at all...
2) look at this new mommy debut till dia Bersalin.... KekekeH....ada ooohhp power oh! Baby oso super baby on day1. Maybe Tats a Teaser? Hehehe!
3) look how much shares taken up for baby? Too little. U think they won't take chance to throw a samba parti here huh pre/post WC?
4) Season for this product is WC...why, u go research 2010 WC. Shortage like crazy. Some more as we speak, samba land is experiencing condom shortage, n r using expired stocks... With AIDS always on d increase, this product is defensive essential...
5) this co, world top producer n to cater for demand is currently building factory...
Aiyah, I can go on n on for counters I think got good potential... But gotta go enjoy breakfast now, catch u guys later...

P/s: These few months quite safe to play baby. As for, Mother can keep, IMHO. Trade at yr own risk.

Hi Dragonslayer, I read elsewhere mother can up 30% anytime now. This kiddo will follow mother. How many percent do u think it will hit? ;)

3 reasons I think can buy this counter on Wed:
1) up/ down follow Pmetal. Pmetal oledi up Mon, this one not yet. Wed up?
2) look at the chart's trend, just started to rebounce ( 2nd wave) ..
3) still penny stock, very cheap relative to Pmetal

Feel free to discuss. If it's good n timely to enter, we can sama2 go in n push the price up! Hehehe! How's that?

Good nite. ;)

Sounds like good news for the aluminium industry. The last few para. Of the article reads:

"Billionaire fund manager Kerr Nielsen, who runs Platinum Asset Management, is also a believer in aluminium.

In a recent fund update, Mr Nielsen said a bigger Chinese focus on returns on capital, pollution abatement, an export ban in Indonesia and reduced alumina supply following the closure of Rio’s Gove refinery were all set to slow capacity growth.

“The industry itself has seen demand growth of 6 to 7 per cent per annum and any slowing of capacity additions could see a strong move in the metals price.”

Deutsche Bank is forecasting prices will rise to $US3000 a tonne again by 2020."



The article:

Aluminium’s day dawns as iron ore dims
MATT CHAMBERS THE AUSTRALIAN MAY 12, 2014 12:00AM

The Rio Tinto CEO tells Alan Kohler and Robert Gottliebsen about his plans to expand the company beyond the mining sector.
Aluminium free cash flow. Source: TheAustralian < PrevNext >
••
<>
KGB Interview: Sam Walsh Gladstone aluminium smelter - metal ind...
RIO Tinto’s much-maligned aluminium business could be a surprise saving grace for the miner as iron ore prices soften, with the company’s cost-cutting drive set to produce strong cashflows and boost the chance of big returns to shareholders.

The turnaround in aluminium, which Deutsche Bank is forecasting will contribute $US2 billion ($2.1bn) of annual free cashflow to Rio by 2017, comes as chief executive Sam Walsh predicts an end to the Chinese overcapacity that has hobbled the industry in recent years.

While there is no hope of recovering the $US25bn of value wiped from the aluminium unit’s book value since Rio paid $US40bn in cash for Alcan just before the global financial crisis, some investors are positioning themselves for a rebound.

“We have shareholders on our portfolio because they ­believe our aluminium business is going to be very prospective,” Mr Walsh told the company’s annual meeting in Melbourne last week. “That’s their call, but it is an indication that people ­expect there will be improvement in the business.”

Deutsche Bank analysts also sense a change.

“The value of Rio’s aluminium business has been mentally written-off by the market,” analysts Rob Clifford and Paul Young said last week in a detailed report on the business using new information provided by Rio.

“We expect this to change in 2014, with the division close to completing the majority of its transformation.”

A focus on cost-cutting and the closure of high-cost assets led Rio to report a $US550m aluminium profit last year, when most analysts were expecting it to just break even.

After redoing its Rio numbers last week, Deutsche has boosted its 2014 aluminium forecast to $US955m this year, up nearly $US300m on its previous forecast.

“After years of generating negative cashflow, the long process of restructuring Rio’s aluminium division is about to pay off,” the analysts said.

“The improvement in aluminium free cashflow will offset the slide in iron ore prices in our view.”

Rio’s Alcan acquisition was made as China started building enormous aluminium capacity.

Half of this is now thought to be losing money, but there are no signs it will be shut down in the short term.

This has depressed prices, which have fallen from about $US3000 a tonne in 2008 to about around $US1800.

At Rio’s London AGM last month and again in Melbourne last week, Mr Walsh spoke of an end to the Chinese aluminium overcapacity, which he says is partly the reason the investors he spoke of are backing Rio.

The reason is that the growing Chinese middle class, like aluminium production, is energy- hungry.

“The increasing middle class will buy refrigerators, televisions, airconditioners, you name it, and they’ll need to power those up,” he said.

“I believe there will be a transition from using stranded power in China to power aluminium smelters to actually using that power to provide power for middle class houses and for small and medium enterprises.

“It’s what happened to Japan in the 1970s — Japan had a very vibrant aluminium smelting industry back then; today they have none.”

Mr Walsh expected this to happen within the next decade.

Billionaire fund manager Kerr Nielsen, who runs Platinum Asset Management, is also a believer in aluminium.

In a recent fund update, Mr Nielsen said a bigger Chinese focus on returns on capital, pollution abatement, an export ban in Indonesia and reduced alumina supply following the closure of Rio’s Gove refinery were all set to slow capacity growth.

“The industry itself has seen demand growth of 6 to 7 per cent per annum and any slowing of capacity additions could see a strong move in the metals price.”

Deutsche Bank is forecasting prices will rise to $US3000 a tonne again by 2020.

Old news , but new to me cos I've just started my research on aluminum industry. So confirmed, price is rising and demand is there.


Published: Wednesday April 16, 2014 MYT 12:00:00 AM
Updated: Wednesday April 16, 2014 MYT 2:36:55 PM
Boost from high aluminium prices

BY JACK WONG

File pic showing the Mukah smelter, which has a main production house that is 750m in length and consumes about 200MW of electricity for its operations.


KUCHING: Rising aluminium prices have given a big lift to Press Metal Bhd’s share performance.

Aluminium prices on London Metal Exchange (LME) jumped 10.5% over the last three weeks, particularly after the exchange lost a lawsuit that forced it to shelve its new warehousing policy.

According to RHB Research, the policy was designed to reduce LME’s deadlocked inventory which many believed was tied to contango financing (carry-over or continuation of fees due to the postponement of payment for and delivery of stock from one account day to the next).

“While we concur that the event may have boosted market sentiment and resulted in an uptick in aluminium prices, we think this coincides with the improving fundamentals of the aluminium industry.

“After almost a decade of capacity curtailment, the moderate growth in demand may finally translate into a supply deficit in the global ex-China market from 2014. This may suggest that the aluminium industry is hitting bottom,” the research house said in a report.

Press Metal, which owns plants in Samalaju Industrial Park, Bintulu and Mukah, has gained more than 30% in its share price which rose to intra-day high of RM3.12 before settling at RM3.08 for a gain of 11 sen with volume of over 2.9 million shares yesterday. Last week, the stock gained a further 38 sen to RM2.90 (versus 52-week low of RM1.78) after putting on 26 sen to RM2.52 a week earlier.

Press Metal’s market capitalisation stood at RM1.59bil.

The company warrants made a hefty gain of 45 sen, or 60%, to close at RM1.21 last Friday, from 76 sen two weeks ago. They were also up 11 sen to RM1.29 yesterday.

RHB Research said while the 10.5% increase in LME aluminium prices might not form a firm uptrend, the new support level would benefit Press Metal’s world-class low-cost smelters. Moreover it said the improved market dynamics were timely as both Press Metal’s Samalaju and Mukah smelters were operating at full steam after the completion of a ramp-up exercise last month.

The two plants have combined installed capacity of 440,000 tonnes annually. The Mukah production was disrupted after a statewide power outage in June last year that damaged the smelting pots. Production has resumed after the completion of reconstruction works recently.

The research house said the two smelters had estimated their combined aluminium production to go up to 405,000 tonnes this year and 435,600 tonnes in 2015, against 290,772 tonnes last year.

“We are also excited about its (Press Metal) recent landmark US$140mil deal with Sumitomo Corp, which the latter took up a 20% stake in Samalaju smelter, implying a standalone valuation of RM2.3bil for this unit,” it added.

Press Metal said it had on April 1 received the provisional cash consideration of RM456.6mil for the stake disposal to Sumitomo.

“We expect the proceeds, together with the coming year’s profit, to pare down Press Metal’s gearing to 0.93 times (by end of financial year 2014) from 1.87 times (as at end-2013), as well as give rise to a RM336.4mil disposal gains that will flow directly to its shareholders fund.

“We also project annual interest cost savings amounting to RM24.4mil from the disposal proceeds,” said the research house.

RHB Research said Press Metal’s Samalaju smelter could save between RM25mil and RM30mil a year in land logistics cost upon the commencement of Samalaju Port, which is adjacent to the smelting plant. The company now uses the further Bintulu Port as its logistic transit point for raw materials and aluminium.

Samalaju Port’s interim facilities are scheduled to be operational this month.

Didn't know this until now!!! ( aluminium related) Aiyoyoyo! Hehehehe!


Malaysian aluminium can maker gets offer from new suitor Toyota Tsusho

2 months 62 day 7 hours 43 minutes agohits: 1038

Reuters reported that Japan's Toyota Tsusho Corporatipon has made an offer to purchase 51% of Malaysia's Kian Joo Can Factory Bhd bidding more on a per share basis than a rival Malaysian firm and sending Kian Joo's stock soaring.

The trading arm of the Toyota Group is offering 3.74 ringgit per share for the stake in the aluminium can maker, valuing the deal at some MYR 847.3 million.

That represents a 13% premium to MYR 3.30 per share offer from Aspire Insight Sdn Bhd, a local private company. In contrast to Toyota Tsusho, Aspire wants to take over Kian Joo in a deal worth MYR 1.46 billion.

Source – Reuters

Sharing out news I found. Let's sama2 discuss if we should invest in aluminium counters...



LME aluminium to rebound to USD 1787

7 hours 2 minutes agohits: 150

Reuters reported that LME aluminum may rebound to USD 1,787 per tonne as it has found a support at USD 1,760.

The support is provided by the 61.8% Fibonacci retracement on the rise from the Feb. 3 low of USD 1,671.25 to the April 11 high of USD 1,902.50.

It has triggered a rebound towards the 50% retracement at USD 1,787. A break below this support may cause a limited loss to USD 1,751, the 76.4% Fibonacci retracement on the rise from the March 19 low of USD 1,704.25 to USD 1,902.50.

Source – Reuters

Guys, read lah what I wrote at Pmetal. Ada logic?

K, k, Hitman! kutnait!

Hitman, if LBaulm follows Pmetal, n Pmetal went up 6 sen today, but LBaulm dropped, meaning coming Wed Pmetal will go up! Logic or not? Hmmmmmm

Hitman, let's talk Pmetal @ Pmetal thread then. But I also like this counter. This afternoon, I got observe its movement. maciam nak datang anytime.... Some more closed low... Got chance to pick up cheap on Wed.

Hitman, I like to enter when volume is still low. Price still ok.

Hitman, u got Pmetal ? Any comments?

Hitman, no idea. D way I c d pattern, will be upward. Wat r yr thoughts?

27055825
6 posts
Posted by 27055825 > May 12, 2014 10:50 PM | Report Abuse

halo cweed you wanted an answer you get it You want to make money you follow.All the answers are out there,just wait for the counter to fly and close case!!
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Halo 27055825, wat type of tip is tat? Heheheh! I oledi own shares in this counter le.... No need to chase chase, follow,follow anyone.... Come what may!

Aiyoh, Ayam Tua, I segan lah! Most of the good points listed are not from me, but you lah! You are too humble.

Friends, Cweed pernah juga a few times jatuh longkang kerana terlalu shiok play chase chase ! First few cut loss memang sakit! But better late than never! At least salvage whatever there is left! New stocks many times bawa tuah baru :) dapat recover loses :) Change horse, friends. Not all are loss. Tomorrow will be a better day. Good luck, everyone! :)

Any TP to share?

Thanks, Joel for the link! :)

Hi Ayam Tua, :) May I add, dun believe 100% apa orang kata. Do own research. If in doubt, play small, small.... Stock market, no guarantee punya. Got gain, sure got loss. No such thing as only got gain, no loss punya, betul tak?

Dunno yet ImCK. Depends when...

rchi, ya kah! good, good, I go research abit into it now... thanks!

ImCK, when AGM?

Pmetal do what one? Aluminium kah? I'm also hawking aluminium counters i.e. LBalum

Hi Lim Brunei, so u r here! hehehe! How, yr new portfolio? Ada huat huat? :)

Dun scold them la harvard57. Siapa nak jatuh dalam longkang punya.

Friends, just cut loss and move on lol......:(

tj,


alamak !@ inari thread:
newbirds wrote: Actually CEO is previously from Gtronics.

Sekarang, I takut!!!

tj, asuprem pun u orang jangan touch... not good punya...

tj, i read fr RM2/- till 12 sen ohhh, some r holding! aiyoyo! sure hope they beli sikit sikit! if big big, cry no tears oh.... how many chinese based counters r there at bursa? 11 or 12? u better dun play at any of these counters ohhhh!

tj, if even u lost $$$ there, really no hope liao 4 ppl there....! :( Really A Dangerous counter!

noted, tj.

tj, ppl @ csl kena conned teruk. Kesian. Wat do u think they should do? Average down is not a good idea, is it? U have been in this market for quite a long time. wat do u think normally happen to investors in counters maciam ini?

this week agak2 can hit rm3.50 or not?

hi tj, so trading has been fantastic in May! good for u! :)
LBalum maciam coming Wed. Can buy?

935win Brahmal Vasudevan come out buy 3.55pm.
09/05/2014 16:25
----
How u know? At how much?

935win, What do u mean by 'big board buy' ? 0.85 sen? Any link to share?

Not really promising. Always false alarm. Always this range.....Zzzzz very disappointed. Will cut loss. I dun like a recycle counter. Only benefit day traders. Dun benefit long term investor. :(

Just checked, Trend is upward. > 0.74 is definitely within reach. Will buy. ;)

When is the AGM?

When is AGM? And wat happened to the warrant?

Uhh, not really.... Heheheh!

;)

27055825
5 posts
Posted by 27055825 > May 11, 2014 01:36 AM | Report Abuse

Yes Cweed its more than betul It will happen on Monday!!!
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27055825 , where are u? More than betul? How do u answer to today's performance?

27055825
5 posts
Posted by 27055825 > May 11, 2014 09:49 PM | Report Abuse

if everyone believe and buy, it will move even faster than you expect.Anyway it will fly ...........
When it moves upward, everyone will start chasing, dun worry! So ask d operator to keep it up! So to speak! Hi hihihi! What time start?

27055825 Yes Cweed its more than betul It will happen on Monday!!!
11/05/2014 01:36
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I really hope so, hehehe! Trust u for now.... Kikikiki!

851815 Free posting Cweed because IRIS already have 13885 posting by now. IRIS BOLEH!!!!!!!! APA PUN BOLEH!
10/05/2014 19:04
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Huh? Wat do u mean by free posting?

Bursamaster, yr remark managed to curb my punting itch ( raya) , thanks :)

Nicermannson, tj, Acdc, my friends, dun touch this share. Very speculative. Original founders already jumped ship. Now, HK / China connection took over. I nearly got killed here. Come go without warning. Master Skill in conning ppl. Run....!

More outdated article. But still relevant. Moral of the story, avoid China based stocks at Bursa.


Business NewsHome > Business > Business News

Published: Saturday May 3, 2014 MYT 12:00:00 AM
Updated: Saturday May 3, 2014 MYT 7:34:28 AM
China firms plagued by accounting issues
BY WONG WEI-SHEN

There seems to be a flurry of mainland China companies listed on Bursa Malaysia that are battling accounting issues.

Such is the case of China Stationery Ltd (CSL), who has asked Bursa for an extension of time to submit its audited annual statements for the financial year ended Dec 31, 2013 due to a fire incident at one of its plants in Fujian Province, China.

On April 30, Bursa granted CSL an extension of two months from May 1, 2014 to June 30 to announce its audited financial statements, initially due on April 30.

The company has also been given up to July 31 to announce its results for the first quarter ended March 31, which was due on May 31.

The extensions are subject to monthly updates from the company on the police investigation report for the fire incident.

Should CSL fail to issue the audited financial statements within five market days after the extended deadline, Bursa will suspend all trading activities in the counter.

CSL faces the risk of being delisted if it still does not submit the audited financial statements within six months from the extension deadline.

The unfortunate fire incident destroyed approximately 10,000 sq m of the 15,422 sq m production plant in Fujian Province on April 4. Its auditors Messrs RT LLP said it was unable to proceed with “walk-in bank confirmations”, sight of fixed assets, as well as complete the audit fieldwork on CSL’s subsidiaries in China.

“The aforementioned procedures are crucial for us to issue an audit opinion on the group’s financial statements for the financial year ended Dec 31, 2013,” it said an announcement with Bursa.

The company’s unaudited earnings fell to RM207mil from RM226.7mil a year ago on lower revenue of RM949.52mil, due to decrease in sales of patented products.

The external auditors of China Ouhua Winery Holdings Ltd, another mainland China company listed on Bursa, have expressed a qualified opinion on the company’s accounts for the financial year ended Dec 31, 2013.

Messrs Helmi Talib & Co said in a statement they were not able to verify the figures in China Ouhua’s trade and other receivables.

It raised doubts over the recoverability of the deposits of 118.8 million renminbi (RM62mil) that the company paid to acquire land in Yantai City last year.

Furthermore, no independent professional valuation on the acquired asset was made. “In absence of an independent valuation, we were unable to ascertain whether the net recoverable amount of the assets acquired will exceed the total purchase consideration,” the auditors said.

Additionally, its trade receivables amounting to 44.93 million renminbi, were past due but not impaired as at the year-end. “We were unable to obtain sufficient appropriate evidence about the collectability of the group’s past due trade receivables. Consequently, we were unable to determine whether any impairment adjustment to this amount was necessary,” Messrs Helmi Talib & Co said.

China Ouhua widened its net loss for 2013 to RM47mil from a net loss of RM8,400 in the previous year. Revenue fell to RM17.9mil from RM76.27mil a year ago due to the downward trend of the winery market in China.

Meanwhile, shares in convenient food specialist HB Global Ltd have been suspended resulting from failure in submitting its annual audited accounts for the financial year ended Dec 31, 2013.

On April 29 the company announced that its submission of accounts will be delayed following the recent change in auditors on April 21. HB Global had proposed to change its auditor to UHY Lee Seng Chan & Co in place of Paul Wan & Co that has given notice not to seek reappointment as auditor of the company.

In May last year, Paul Wan raised red flags when it issued a disclaimer of opinion, citing irregularities in HB Global’s financial statements for the year ended Dec 31, 2012. It questioned the company on the proper accounting for bank balances, trade receivables and trade payables for the corresponding transactions in the group for 2012, and the completeness of HB Global’s accounting records.

BDO Governance Advisory Sdn Bhd was appointed on May 22, 2013 to conduct a special audit on the company’s 2012 accounts.

Later in mid-October, HB Global announced that BDO was able to reconcile the cash balance, trade receivables and trade payables, contrary to Paul Wan’s disclaimer opinion.

HB Global told Bursa Malaysia that it would seek legal advice on action to be taken against its previous auditor.