hng33, you always buy when it drop, and sell when it gain back, earn the difference of few cents. As your volume are big, so the difference of few cents could be a significant amount.

But just wondering, if let say after you sell, if the share continue to go up (i.e. from 2.12 all the way up till RM2.80, every day up 8-10 sen), would you chase back? or you will put aside this counter, and focus on other counters.

gcke, based on my understanding, the main reason are:-

1) Many investor and punter shift their portfolio weight to O&G industries. This is my conclusion after have a chat with few remisier;

2) China steel price drop around 10-20% from the peak at Dec'17.

Basically, the Malaysia Steel Industry fundamental are still very bright, just many investor has switch their fund to O&G industries.

Huatar 333, good 1... So many bullet.

进入2018年，钢铁、玻璃(1505, -2.00, -0.13%)、水泥等长期存在产能过剩的工业行业，即将迎来去产能、调结构的攻坚战。

　　为巩固前期去产能成效，严禁钢铁、水泥和平板玻璃行业新增产能，2018年1月8日，工业和信息化部印发了《钢铁行业产能置换实施办法》（以下简称《办法》）、《水泥玻璃行业产能置换实施办法》，并自2018年1月1日起实施。

　　1月9日，我的钢铁网资深钢铁分析师徐向春向21世纪经济报道记者指出，与此前2015年印发的版本相比，此次印发的修订版《办法》更加严格。例如，对钢铁业产能置换，文件明确，“地条钢”和落后产能等6类产能一律不得置换。

　　“此文件的印发，也透露出一个信号，那就是2018年的钢铁等行业去产能的主基调没变，去产能的力度不会减弱。”徐向春称。

　　严禁新增“地条钢”

　　中国钢铁、玻璃等行业自2015年受大宗商品寒冬冲击陷入困境。2016年起国家开始对钢铁、煤炭、玻璃、水泥等产能过剩行业实施供给侧结构性改革。在钢铁等行业实施去产能等改革措施2年来，行业市场逐渐回暖，企业的经营效益也普遍向好。去产能目前已取得初步成效。

　　以钢铁产业为例。自2016年初至今的2年来，钢铁业已累计完成去产能任务1.15亿吨，距钢铁业“十三五”规划“削减1亿吨-1.5亿吨”的上限——1.5亿吨目标仅剩数千万吨的规模。

　　1月9日，中钢协副会长、冶金工业规划研究院院长李新创认为，此次文件出台说明去产能工作并不是一劳永逸的事情。今后的钢铁去产能要严守两条底线，其一是严控新增产能，其二则是严防“地条钢”死灰复燃。

　　“在国家大力推进供给侧结构性改革、坚定不移化解钢铁过剩产能、三令五申严禁新增产能的背景下，产能置换是实现严禁新增产能和结构调整有机结合的重要手段。”李新创称。

　　1月9日，工业和信息化部原材料工业司钢铁处处长徐文立指出，“明确哪些项目建设须实施置换是开展产能置换工作的前提，明晰用于置换的产能范围是做好产能置换工作的关键。新出台的《办法》对这些都做了进一步细化和明确，目的只有一个，就是严禁新增产能。”

　　为了避免个别项目“钻空子”逃避置换新增产能，《办法》要求，无论建设项目属新建、改建、扩建还是“异地大修”等何种性质，只要涉及建设炼铁、炼钢冶炼设备，就须实施产能置换。简言之就是“只要建炉子、就要置换”。

　　哪些是可以置换的产能范围？“对钢铁行业，简单来说，可用于置换的产能要同时满足‘1个必须、6个不得’的两大要求。”徐文立解释。

　　其中，“1个必须”指用于产能置换的冶炼装备必须是国资委、各省级政府2016年上报国务院备案去产能实施方案的钢铁行业冶炼装备家底清单内的装备，或2016年及以后合法合规建成的冶炼设备。

　　“6个不得”指：列入钢铁去产能任务的产能、享受奖补资金和政策支持的退出产能、“地条钢”产能、落后产能、在确认置换前已拆除主体设备的产能、铸造等非钢铁行业冶炼设备产能6类产能。这是“一票否决”项，触及其中任何一条都不能用于置换。

　　对于置换比例，此次《办法》也进一步收严。例如，京津冀、长三角、珠三角等环境敏感区域置换比例要继续执行不低于1.25：1的要求，其他地区则由等量调整为减量置换。同时鼓励各地结合实际执行更严的置换比例，推进钢铁工业结构调整。

　　“这个1.25：1，是指每建设1吨新产能，就必须关停退出1.25吨旧产能。”徐向春在采访中解释称。

　　值得注意的还有，《办法》不仅对置换比例进行了收严调整，还强调“未完成钢铁总量控制目标的省（区、市），不得接受其他地区出让的产能。”

　　此前，国务院对天津、河北、山东三省市提出了钢铁产能总量控制目标。有关地区可通过去产能和跨省区置换两条途径，实现区域总量的控制目标。

　　以山东为例，山东省此前公布“十三五”期间要化解钢铁产能1500万吨。而2016年及2017年累计完成任务刚过半，2018年的去产能任务不轻松。

Unlikely to change policy, because MITI policy normally quite stable and firm one.

Does Alliance Steel commence its operation? Or still under construction stage?

Alamak, just loaded at RM2.24 this morning...
Shouldn't wake up so early.

Bro Edward, hope can see you come here to update the latest steel price.

spiderman, can share your point?

Yup, continue to accumulate since RM0.18... Almost every bit I added up some stock.
If it continue up, I will continue to add.. all the way until it pass RM0.30.

RM0.125
RM0.135
RM0.145
RM0.155
RM0.165
RM0.175
RM0.185
RM0.195
RM0.205
RM0.215
RM0.225
RM0.235

Chean Yeh, Thanks for the clarification.

Wow Nelson Cheah, Y10 increased by RM150, so kaulat ar...

I think the worst for O&G Support is over... M&G will rise up to its original price level (40-50 sen)

Digistar current share price is 12.5sen, market value is 82mil.
If market value increase to 300mil, that mean share price will be 45sen..

Erm... Let's wish for it.

Today all counter in my portfolio rise, EXCEPT this Digista.
Really no word..

New year new start... RM2.24 will be the 52 weeks lowest in Year 2018.
52 weeks highest will be RM3.XX.

1stINFO, you are really newbie.

For example, your father owned a piece of Palm Oil Estate (i.e. 10 ekar) at Sabah. Because your father and you move to KL, no one manage palm oil estate, your father ask his neighbour to help him take care the estate. Due to lack of proper take care, the revenue from the estate is very low, and it is making very minimal profit every year (i.e. Only make RM5,000 profit for year 2017).

Based on RM5000 profit per year, times with PE 15 times, would you value your father palm oil estate (10 ekar) worth RM75,000 only?

Of course not right! Because you know that someone is offering to buy your father land at RM750,000 (based on market value RM75,000 per ekar).

So why you use DUTALAND EPS to justify to its share price? Since BPLANT already offer RM750mil to buy its estate?

My stock pick as below:-

1) KGB - 25%
2) TDM - 20%
3) M&G - 15%
4) SSTEEL - 10%
5) LEON - 10%
6) DIGISTA - 20%

Can I ask a question here. I have a fren holding UMWOG since few years ago, and he has average down and subscribe for right issue as well.

As at today, he is holding around 275,000 unit of UMWOG, with average cost of RM0.78.

He is around 35 years old, married with 1 child, his annual income is around RM120k.

His current portfolio market value is RM600k, and his UMWOG market value currently is around value at RM86k, so is around 15% of his total portfolio.

The paper loss on UMWOG is around RM128k.

He still have excess cash of RM40k available to buy any stock now.

If you were him, would you cut loss, sell 50%, buy more or put-aside waiting for oil recovery.

Digistar keep on raise fund.... is either something wrong, or something is brewing.

Those haven't invest in this stock, please stay aside, don't risk your money.

Those who invested recently (< 1 year) and feel pain on the losses, can consider to cut loss, there are many good counter out there.

Those who invested long long time (i.e. 3-5 years) and already no feeling about the huge losses incurred from this counter, it is worth to continue to stay until the last card reveal, to see whether Datuk Lee is holding a Spade Ace, or a lousy Diamond Three.

I like Huaan, yesterday I bought some at 30sen, and then cut loss at 28.5sen.
But I still want to buy Huaan, so I hope it drop today.
Hope it can close the gap, drop back to RM0.245.

I can only said you are outdated.
When you free, please go to Connaught Night Market, Setia Alam Night Makrket, Sri Petaling Night market, you will be surprising seeing many consumer and many hawker using BOOST Pay.

As per my research, BOOST is the mobile payment system introduced by Axiata Group.
From what I saw from those night market and facebook post, I believe temporary this are the hottest mobile payment in Malaysia (while pending Touch n Go launch Alipay and Maybank launch wechat pay).

No choice, this counter play by Syndicate.. they already accumulated so much from 5 sen to 22 sen.. Now 30 sen level is a good time for them to take profit first.

But if HUAAN can proof that it really can continue make money, willing to give dividend, unlike other china counter, then I believe FA investor will start to buy in after next quarter..

Wow... superb news.

Good morning edward, so early bring us the good news.
Thanks for your sharing bro, awesome!

Agreed with Gohku, same information I get from a friend that attend to AGM.

Axiata has launch Boost Mobile Payment, now most of the night market in klang valley can see consumer and hawker start to use Boost mobile payment.
Next year Touch n Go will launch the Alipay system, then Maybank will working with Tencent Wechat pay.
The whole industry moving is faster than your expectation, faster than my predict...

Let me repeat what I have posted few months ago:-

Posted by Albukhary > Aug 26, 2017 12:36 AM | Report Abuse X

The problem the Opensys facing is technology change faster than it expected!
When Opensys launch CRM, it thought this technology will replace all the ATM within the next few year.
Manatahu fintech is growing so fast, and very soon more n more people will use mobile pay, e-wallet...etc, so less people will use cash.
If you go to China nowadays, you will understand how fast the mobile pay technology, as 70% of the people in city are not carry cash anymore.
Therefore, before Opensys's CRM can replace ATM, it already being replace by fintech.

You guys must understand, for Bank to decide invest in CRM, bank must consider from a lot of perspective, as the cost for each unit of CRM is not cheap, and you need to spend a lot of money to integrate it with you bank system...etc, and all these cost may need 3-5 years for bank to recover back it cost of investment. If bank already can foresee that in the next 3-5 years 70% people are not using cash anymore, then I'm pretty sure bank wont continue invest in the CRM machine.

Design plan pun tak ada, approval pun tak ada, apa XXXXXX pun tak ada, still dare to come out con people, salute to Dato.

Many developer has land ready, design plan completed, approval from authority done, advertisement permit done, bridge loan ready, but not dare to start the project, keep in store wait n see first, coz market too bad.

But this type of "Tiger" company, apa pun tak ada, lagi mau announce kuat kuat to attract small retail investor... haih...

hebeds, you are good one.

Quak Leng Chan is the boss of Hong Leong Group

IF SSTEEL REALLY WANT TO PUSH UP, WITH SUCH SMALL AMOUNT OF FLOATING SHARE, I BELIEVE IT CAN BREAK RM2.50 EASILY WITHIN 3 DAYS.

Dufu is good pick

Thanks edward bro

Venfx, I am disagreed with your point, maybe I'm looking from different perspective.

1st, a company that have 900mil per quarter, the trade receivable of 342mil is very normal..
It is more like equal to 35 days outstanding only. That mean, the 342mil could be due to those sales incurred during 25 Aug - 30 Sep 2017, which is haven't due for payable at at 30 Sep 2017.

2nd, compare to the rest of 3 competitor, you will realised that SSTEEL gain a lot of market share during the latest quarter. I suspect maybe other competitor tighten their credit term, while SSTEEL have Hong Leong support, so it can give its customer better credit term, with credit line / bank acceptance...etc support by Hong Leong Bank.

Anyway, the above is just my own opinion, you can disagree with me also.

leoting, if what you said is true, then SSTEEL should be also benefited right? Assume SSTEEL paid USD150mil for its scrap metal, electrode, previously need to pay 638 mil, now only need to pay 609 mil, immediatelt save RM29mil.

Edward bro, looking forward for you to update the steel price.
It seem like China steel price increase non-stop, did Malaysia follow?

Tatyang Liew, where are you refer for the 62mil?
Look at the annual report, SSTEEL trade receivable is very healthy.

冷眼大师的座铭：-

没成长，不要买
有成长，不要卖
成长长，长持有
成长短，短持守

简简单单的16个字，看起来很容易，要领悟不简单，要运用有难度，要坚持更加难。

Wah Q4 eps only 0.8sen, crazy ar... I expect at least 3 sen leh.
Don't scare me kaw kaw..

For me, Digistar business should be very easy to understand.

Government pay rental RM3mil per month, so 1 year is RM36mil.

Digistar paid bond interest around 5% x RM280mil, so 1 years is RM14mil.

The Trade Receivable RM180mil divided by 15 years, so 1 year recognised cost RM12mil.

The cost to maintain the building (i.e. grass cutting, M&E repair here n there) - RM2mil per year

Gross profit should be RM36 - 14 - 12 - 2 = RM8mil.

Then I assume the Hotel business, IT business, CMS business can earn enough to cover all the cost (director salary, staff salaries, office rental, hotel maintenance...etc), then Digistar should earn minimum RM8mil per year.

Next year onward, after Digistar settle the 1st Tranch of bond RM60mil, it debt will reduced to RM220mil. So this RM60mil debt repayment will increase its profit by RM3mil per year, become RM11mil.

At the same time, if Digistar can clinch another similar project again, then the profit will be double , become RM22mil.

Hi AK2899, let me explain to you based on my understanding.

I have ask many accounting expert, but no one can give me a satisfy answer, so I analyse it and come out with my own conclusion.

In order for you to have a better understanding, I will illustrate it with other scenario:-

Company A sign a contract with Company B, where Co A will build a Cruise at RM180mil for Co B, and Company B will lease the Cruise from Co A for 15 years, and the rental is RM3mil per month.

So in the Balance Sheet, Co A has incurred RM180mil to build the cruise, but the Cruise is not belong to Co A, so it cannot recognized as Fixed Asset, so it have to recognised as Trade Receiveable.

Then every month Co A issue invoice to bill Co B for the rental, so the rental will reflected in the Revenue. How about the cost? What is the cost incurred for every month? Actually there is no cost, because the cost has been pre-incurred when Co A build the Cruise. So, in order to match the sales, accountant will slowly recognised cost, so you will see the trade receivable getting lower month by month (similar to depreciation concept).

After 15 years, the Trade Receivable will become Nil, and the rental revenue also no more, and the cruise belong to Co B.

The above is a very simple scenario, so it cannot direct reflect the Complexity of Digistar Scenario, because it involved intercompany billing (Government award project to Indera Persada, Indera Persada appoint Digistar Holding S/B to construct the building, and Digistar Holding S/B outsource it to main contractor....etc).

If you company this QR with previous QR, you will suprise why the Non-Current Trade Receivable increased from RM153mil to RM172mil (increase by 19mil)?
There are two reason:-
i) Over-recognise cost in previous quarter, so now they adjust back. That why you see there is no COGS in current quarter.

ii) Last quarter the trade receivable in Current Asset is 61mil, if we added on this quarter sales 20mil, total trade receivable should be 81mil, but why it suddenly reduced to 37mil (reduced by 44 mil).
I suspect the reduction of 44 mil, 19 mil has been transfer back to Non-Current Trade receivable, and balance 25mil has been received from government.

The above is just my own interpretation, please correct me if I am wrong.

That day at NKVE Shell Station, I saw two EG Industries truck carried 40ft container. Seems like very good business, because they have their own truck and own container.

VenFx, why congrats me, I'm still making many many losses in this counter... haha

Government sure need to pay, just not sure how long it will drag.

For the past 5-10 years, most of the government project are under PFI scheme (Private Finance Initiative). That mean, Government will provide the land, and private sector will finance and construct the building, then Government lease back the building for a certain period with certain rental. After the concession period end, the building will be surrender to government.

If Government start to drag payment, then company cannot pay back the loan / bond, then government reputation will be affected, because bank give loan to the company based on the guarantee rental agreed by government.

If government default, then bank wont release loan to other PFI project, and the whole country infrastructure project will be suspended immediately.

Ks55, don't simply cut.
Be patient, I'm still waiting to belanja you at RM4

看了这篇文章，真的感同身受，起步真的很难。

当年我也是这样，拿着RM1800的工资，驾着辆二手的kancil（RM9000，哥哥帮我买，每个月还RM400给哥哥），每天午餐控制在RM5内，没有娱乐，没有交女友，每个月都买入RM700-800的股票。

挨了几年后，股票户口也有二三十千，但组合表现很差，就开始高回筹的香港窝轮（在马上市），又开始玩T+3, 又借personal loan，又向朋友借钱，信用卡刷现金出来投资，不到一年，就把股票户口从20千滚到200千（包括资本，债务，盈利），每个礼拜进出RM500-600千的股票买卖，remisier抽我0.7%水钱，我从一个小客户变成了他的主要客户。

突然，港股开市插水，一天掉个1000点，市场受到惊吓，我的窝轮亏本卖都卖不出，force selling 拼命卖，3天前买RM0.195的窝轮可以force selling在RM0.045，不到两个礼拜，我的户口资金完了，倒欠股票行RM200千的contra loss，外面又欠朋友，家人，卡债，个人贷款，差点要自杀了。

股灾过后，我用了4-5年的时间慢慢还完不好的债务，也在同时间累积了良好的债务，慢慢的回到了轨道，比起同年毕业的朋友们，我已经落后他们了，但我累积的良好债务，让我在3年内又可以更他们平起平坐了。

想回去，当初真的很难挨。走错了一步，就要用好多步来纠正，所以要想清楚啊！

Lchits, digistar result out d, very positive.
真系估他唔到, haha!

Look at its cash flow, very nice.
Look at its cash n bank balance, very nice.

No more impairment loss.

For me, this result is considered above expectation.
Short term target RM0.73. (1 week)
Middle term target RM0.90 (1-2 month)

Waiting for Leoting analysis tonight, haha...