go to SYSTECH, ckwan.

三个Research Houses’s Cover Research Report@PMETAL。

1.RHB@OSK
2.KENANGA
3.AMMB

To Refresh:
(大约2-3月前，PMETAL还没BONUS ISSUE
股价处于RM5.30 - RM5.40 水平.

一当RHB@OSK Cover Report 出炉股价就上涨，再上涨。
一直达RM7.30-RM7.40高水平。(归功于当时RHB@OSK的report)

虽然当中有Correction Price,但这是正常现象。
有发生Correction Price ，才会吸引其他INVESTORS 买入。)

我想说，…在这SATURDAY ， SUNDAY (22 & 23 Nov 2014)

我仔细阅读了三遍以上各三家RESEARCH HOUSES COVER REPORT@PMETAL。

发现AMMB 的Cover Report@Pmetal内容不完全，偏向于悲观。

相反的RHB@OSK 的研究内容很齐全，很深入，准确•PMETAL。

（也许里头有OSK，RHB 联合起来的经济研究人才吧）

KENANGA就比较中和，信得过，如果比起AMMB的话。

RHB-OSK@PMETAL 的TP RM5.75 ， 相等于 Bonus Issue 之前 的TP RM11.50

TP RM5.75 觉得过高吗？

不会，我们得要想到以下几点：

1。 To double its smelting capacity for aluminium in gots in Samalaju, Sarawak to 640,000 tonnes from the present 320,000 tonnes in order to meet the fast-growing demand globally
(“Proposed Phase III Smelter”).

2。Also owns and operates another smelter in Mukah, Sarawak with a 120,000-tonne capacity under its 80%-owned Press Metal Sarawak Sdn Bhd (“PMS”).

总共：Wow, Smelting capacity to 760,000 tpa !!
( ~1.5% of global primary aluminium consumption ! )

3。在Proposed Phase III Smelter，SEB has entrusted us with an additional 500MW of power which is another important milestone@PMETAL to expand our presence in the aluminium industry.

4。The Japanese partner has the first refusal right to maintain a 20% stake in this new project.

5。Press Metal’s further investment in the Sarawak Corridor for Renewable Energy (SCORE) will also create more job and business opportunities for the people in Sarawak.
（国政政府发展SARAWAK州的大PROJECT @NKEA）

6。再加上The new plant is expected to cost less than the amount we spent to build Phase II, even though Phase III has a similar capacity. Simply because Phase III will be sharing some common facilities that are already in place。

7。Generating healthy cash flow. Comfortable that can fund the project with bank borrowings and using internally-generated funds。

8. Conclusion:

8.1 今世今日, PRESS METAL operates two aluminium smelting plants in Mukah and Samalaju in Sarawak.

8.2 Also operates aluminium extrusion plants in Selangor, Malaysia, Guangdong & Hubei, both in China, with a combined extrusion capacity of 190,000 tpa.

8.3 RHB@OSK 所给的TP RM5.75理想及可信任的目标价。

8.4 净利
8.4.1 Dec 2013 rm15 mil
8.4.2 Dec 2014 rm263 mil (F)
8.4.3 Dec 2015 rm417 mil (F)
8.4.4 Dec 2016 rm 555 mil (F)

8.5 有不错的股息（Maintaining its Generous Dividend Payout
Policy of 30%-50%.）

8.6 PMETAL will further invest into Sarawak Corridor for Renewable Energy ( SCORE).

To be able to increase its total smelting capacity from the existing 440,000 tonne to 760,000
tonne。

在2015 年里迈向另一个新的里程碑！

PMETAL.THE LARGEST IN S.E ASIA !

我都是参考research houses 给的cover report @TP.
(就算有都是预测的TP)

你我都不是pakar.

全都是大鱼@外资在掌控股价。

Osk188里头其实就是我们买入卖出的股。

每只股都有它属于自己的chart走势，

当中Indicator s like Parabolic SAR & MRCD@技术表。

我们只是tumpang SKPETRO's Kapal 而已。

SKPETRO @大鱼在背后，

股价上/下不轮到你我的这几句话的影响。

就让MR.MARKET 告诉大家好了。

思想如寄生虫一般。

Fr OSK188,
我得知 IFCAMSC ：

1。MACD 的两条线已经相碰
显示该股价走势朝着下的气势。

2。PARABOLIC SAR 也暗示着同样的方向。

套利的情况@波动就难预料。

Kok Leong, 请问你晓得如何把Articles post at Top Articles, beside i3investors's forum ?
Thanks!

有些人真的在讲着没有意义的话(KS55 )

I had been choose SKPETRO bcos Huge OG ORDER BOOK@CONTRACT.

DEBT RM1bil vs OG Contract Rm26.8 bil.

Generated high visible net profit grow in future.

最近还趁着马币走软，购入油田资产。

聪明明智策略!

Good step !

http://www.nanyang.com/node/663991?tid=462

Having said that, our view and year-end target of 1,910 remains unchanged.

We believe the domestic market will still be supported by the strong domestic liquidity position and the favourable seasonal pattern. Besides, as FBMKLCI is traded at 7% discount to its consensus target price of 1,945, the downside could be limited.

Based on the track records between FBMKLCI and its consensus target, we believe any dips below 1,830 should serve as “Buying On Weakness” (B.O.W.) opportunities.

Apart from YTD underperformers / laggards, we still like BARAKAH (OP, TP:

RM1.74), COASTAL (OP, TP: RM5.94), GAMUDA (OP, TP: RM5.52), KSL (TB, TP:

RM6.63), MUHIBAH (OP, TP: RM3.55), SIME, (OP, TP: RM10.10), SUPERMX (OP,

TP: RM3.23) and VS (TB, TP: RM3.16). Our other 2 Top Picks - MBSB (OP, TP:

RM2.65) and RHBCAP (OP, TP: RM10.00) – have performed well after the

recently announced CIMB-MBSB-RHBCAP merger structure. As such, we are

replacing these 2 Top Picks with MPI (OP, TP: RM6.72) and

PMETAL (OP, TP: RM8.87).

Source: Kenanga

Investors wil be reward if invest in Skpetro for long tem investment, truely I say.

大多数投资者焦点都看在Ifcamsc.

可是忽略了其他也有隐藏潜能的ACE Stocks.

也许，当中有些人还认为Ifcamsc 股价还有很大的上涨空间。

IFCAMSC price already up exceed 800% (if u notice that )

SYSTECH only only only rise up 190%-200% (才区区的四分之一的800%)

From MACD ( OSK188@Technical analisis )

The 2 lines which indicated SKPETRO's uptrend road already started@Green Light !

As well as Parabolic SAR.

From MACD ( OSK188@Technical analisis )

The 2 lines which indicated SYSTECH's uptrend still intact !

As well as Parabolic SAR.

High probably next week's price run at RM0.33- RM0.365.

New TP still comparable to global peers?

As Press Metal owns the country’s first
smelter (thus becoming the first aluminium smelter counter under our coverage),


Conducted a cursory global peer comparison based on consensus estimates.

Meanwhile, its global peers are currently trading within 9.6-31.3x FY14 and 6.8-16.2x
FY15 P/Es but our new TP of MYR5.75 implies a 24.1x/15.2x P/E on FY14F/FY15F
projections.

While it appears to be almost at the higher range of its regional peer
valuation, we think investors must look at our valuation for its FY16 - a year in which
most of its peers have no expansion plans in the pipeline even as Press Metal’s

Phase III expansion would further trim its implied P/E to only 11.4x – which would be
its peer average’s projected P/E for 2015.

Therefore, our earnings base valuation
remains reasonable (while there is also room for its valuation to expand),

STRONGLY believe earnings estimates were largely TOO CONSERVATIVE !

Room for an earnings surprise.

Press Metal’s 4Q14 profit to come in
around MYR90m on higher aluminium prices.

Based on the all-in aluminium price
estimate of USD2,400 in 2015,

Anticipate the group’s earnings to improve further
to approximately MYR105m a quarter or MYR417m in FY15.

On the back of
additional volume from Phase III of the smelter and assumption of a 1.5% YoY
increase in the LME spot price to USD2,030 and flattish premium of USD400 a tonne,
we expect Press Metal to hit another record milestone with a profit of MYR555m in
FY16.

Projected Press Metal’s earnings to improve year after
year until 2020, the current aluminium price movements suggest a high likelihood of
an earnings upside, given our conservative assumption in our financial model

Aluminium prices inching up.

The London Metal Exchange (LME) aluminium cash
price corrected after breaching the USD2,100 a tonne level in September.

However,
we notice that it is now back on an uptrend – it last traded at USD2,011 a tonne (as
of 18 Nov), which was a sharp rise from a low of USD1,858.75 a tonne in October.


While we are unable to say with certainty that aluminium prices will not drop further,

Believed the increasing deficit in supply is a good sign that aluminium prices are

bottoming out at the current level and stand a good chance of surprising on the
upside.

BUY, with a higher TP of MYR5.75.

Excited over the news of
the capacity expansion, as it is timely for Press Metal to ride on the
bottoming out of aluminium prices and expand its presence in the
aluminium industry.

Its projected record earnings indicate that the
company can fund this project using internally-generated funds together
with bank borrowings, while maintaining its generous dividend payout
policy of 30%-50%.

Thus, reiterate BUY with a higher TP of MYR5.75
(from MYR4.72),

which we derive from a 10% discount to our latest DCF
valuation, on a fully diluted basis.

Press Metal already runs
successful aluminium smelters in Sarawak, which are in the first quartile
of the global production cost curve.

Although the tariff for the additional
power supply is confidential, understand from management that the
profitability of Phases II and III of the smelter is similar, after imputing a
lower capex and potentially greater efficiency, for the new plant.


Meanwhile, the first drawdown of 330MW will start in end-2015, while the
remaining 170MW will be drawn down from early-2018 onwards. To be
prudent, we imputed the new capacity into our financial model, which
assumes contributions only from 2016 onwards together with some
higher costs.

Thus, our FY16 estimates rise by 27.7% to MYR555m !!!

Phase III expansion.

Press Metal’s 80%-owned subsidiary, Press Metal
Bintulu SB (PMB), has inked a term sheet with Syarikat Sesco for the
supply of an additional 500 megawatts (MW) of power to PMB to
undertake its proposed Phase III expansion, which would double the
present aluminium smelting capacity at its plant in Samalaju, Sarawak to
640,000 tonnes per annum (tpa).

Together with its smelting plant in
Mukah, the expansion could see the group expanding its smelting
capacity to 760,000 tpa, which is about 1.5% of global primary aluminium
consumption.

Applaud Press Metal’s plan to double its Samalaju plant’s capacity,

which would lift total smelting capacity to 760,000 tpa (~1.5% of global
primary aluminium consumption).

Maintain BUY, with a higher TP of
MYR5.75 (68.1% upside) – at a 10% discount from our fully-diluted DCF
valuation.

Earnings Outlook Earnings forecast maintained –

Keeping EPS forecast for FY15 and FY16 at the moment as the Vietnam transaction is expected to be completed next year with earnings pouring in after that.

Fundamentals intact –
Despite the slump in share price recently, SKPB’s fundamentals remain strong and is backed by a huge orderbook of RM26.1bn with extension options worth RM19.1bn.

ACCORDING TO JF APEX SECURITIES BERHAD

1. SapuraKencana Petroleum Bhd (SKPB) has expanded its drilling division after acquiring 3 PSC blocks (46-CN, 10-11.1 and 01/97 & 02/97) in Vietnam from Petronas for US$400m (RM1.35bn).

2. Already up and running -
Out of the 3 blocks, 46-CN and 01/97 & 02/97 are already producing oil and gas and would contribute to earnings and cashflow.

3. Wins Sabah PSC -
The company was also awarded a 27-year production sharing contract (PSC) by Petronas for 2 blocks (SB331 and SB332) at onshore Sabah, covering 31,000 sq km or 42% of Sabah land area.

4.Positive development -
This latest development came after the acquisition of Newfield Malaysia early last year, which kick started its drilling business. The Vietnam blocks will lift SKPB’s production to almost 35 kboepd from 23 kbpoed from Newfield Malaysia’s assets.

Skpetro, 这只汽油股明年开始很肯定的是赚大钱。

收购资产@油田就是Skpetro的前面工作。

有钱收购别的资产为公司大大提升净利。

Rm4.00一下股价说真的非常超值的投资水平。

maybe more lower price to fall on next Monday.

correct, I also check MACD fr Osk188.

uptrend remain next week.

不怕，投资者们大家都知道PMETAL的前景亮丽，

不怕买入PMETAL。

Those who bought at RM0.31-RM0.325,

pls keep it and hold.

In 2015, 不会跑在RM0.45 below。

今天整天MARKET CORRECTION。

SYSTECH 的表现算是不错了。

KEEP AND HOLD。

anyway, uptrend still intact.
See on next Monday.

RM0.295 COME AGAIN。

快要RM0.305 了。
RM0.295 IS DONE。

Last 15 minutes.

显示有反弹的机会。

Osk188,

Systech now run at last RM0.30.

Can buy in RM0.295.

Yes, may buy RM0.295 and hold it.

Systech may trend higher after breaching the MYR0.27 level to extend its multi-year high. Traders may buy as a bullish bias could be present above this level, with a target price of MYR0.335,followed by MYR0.365.

RM0.31 有可能在12：30中午之前达标。

RM3.50 ，.....就要看看下午2：30 时候了。

现在跑在RM0.305 了！

根据OSK188 情形来看，显示：

Today TP around at RM0.31 - RM0.325.

SEKUPANG， 直接拿掉RM0.30 吧。

已经RM3.45 了！

RM0.30 快要完成交易。

不可能。
现在TOWARD RM0.305 了！

应该RM3.42 会完成交易。
TOWARD RM3.43。