okay.. rights issue my view is mycron's okay but melewar's terrible. lol sorry melewar. but can anyone give any feedback on this question:

Olga Actually i also saw and was wondering why rights issue before qoq out?
24/08/2017 12:41
X
Olga Why not rights issue after Qoq?
24/08/2017 12:41

All the above are taken from melewar's and mycron's rights issue attachment available on bursamalaysia

Melewar's Rights Issue:

At the issue price of RM0.20 per Rights Share, the Proposed Rights Issue of Shares with Warrants will raise between approximately RM11.50 million and RM45.11 million based on the following scenarios, with the following proposed utilisation: -

Minimum Scenario : Assuming the Minimum Subscription Level
Maximum Scenario : Assuming all Entitled Shareholders fully subscribe for their entitlements to the Rights Shares with Warrants

Proposed Utilisation

Minimum Scenario 11,500 (RM’000)
Subscription of MIGB’s entitlement under Mycron’s Proposed Rights Issue (as defined herein)(1)
10,800

Estimated expenses in relation to the Proposals(3)
700

Mycron's Rights Issue:

At the issue price of RM0.50 per Rights Share, the Proposed Rights Issue of Shares with Warrants will raise between approximately RM10.80 million and RM28.36 million based on the following scenarios, with the following intended utilisation: -

Minimum Scenario : Assuming the Minimum Subscription Level
Maximum Scenario : Assuming all Entitled Shareholders fully subscribe for their entitlements to the Rights Shares with Warrants

Minimum Scenario 10,800 (RM’000)
Capital expenditure(1)
10,100

Estimated expenses in relation to the Proposed Rights Issue of Shares with Warrants(3)
700

Mycron is the beneficiary of Melewar's Rights Issue. In return the price of Mycron Rights Shares is cheap at rm0.50 for melewar. And under minimum senario basically melewar is just "giving cash" by the directors coming out with their own money through their sendirian berhad to Mycron. Mycron's Rights Issue is good as long as Mycron's results is good. Free cash for a profittable company is always welcomed. Melewar's Rights Issue is very dilutive bt Mycron's Rights Issue is not much dilutive (including the warrants at maximum senario is 30% dilution).

seriously, melewar rights issue 1:1 compared to mycron 1:5.. mycron is anytime better.. but 70% of mycron is held by melewar so mainly it is melewar taking up mycron's rights issue..

i feel only melewar needs the rights issue more than mycron unless something bad this coming qoq in mycron.

but if mycron's coming qoq is good mycron's rights issue looks good

Buy emetal.. very good :)

looks very bad

The Group registered a significantly lower
profit before tax of RM18.8 million this quarter compared with RM22.0 million achieved in the previous
quarter due mainly to an inventory write down of RM6.8 million due to valuing of some affected
inventories to net realizable value as selling prices for third quarter are softening.

Variation of results against preceding quarter
The Group’s revenue has increased by 3.4% from RM309.9 million in the preceding quarter to RM320.5
million this quarter. The increase in revenue is due to significant increase in selling prices of all steel
products despite a significant drop in their sales volume. The Group registered a significantly lower
profit before tax of RM18.8 million this quarter compared with RM22.0 million achieved in the previous
quarter due mainly to an inventory write down of RM6.8 million due to valuing of some affected
inventories to net realizable value as selling prices for third quarter are softening.

You are right !!

JayC this result is within expection because future quarterly report will be very strong. Forward PE of X5!!!! assuming 5.83 + 4.83 + 5.83+5.83 = 21.87 cent / RM1.14 = 5.2x forward PE. this is my very conservative forecast because i believe Q3 and Q4 will beat Q1 result!!!
24/08/2017 17:31

Why not rights issue after Qoq?

Actually i also saw and was wondering why rights issue before qoq out?

one day positive one day negative

STC1136 Why need to do right issue? with current trend, profit margin higher, can not generate internal fund?

They do not pay dividends for the past 7 years despite of they are making profit.

Still need invester to pump in money?

No way!!!!

Sell today!!!
24/08/2017 11:59

STC1136 China Mill price for Hot Rolled Coil Big up today again between 3.5% to 5% , now market price up like crazy....

Malaysia Mill price will follow very soon, As china supply 50% of worldwide market, sooner malaysia Small Mill like Annjoo,Southern,Lionind, MAsteel will up.

HR per ton should surpass to RM2,600 by this month

CR per ton also up between RM3,300 to 3,600

All metal who keep high inventory sure huat this round........
07/08/2017 14:08

sunset industry until regulation changes?

I think steel is better than lottery.. what everyone else thinks?

how can master = orna
hahaha

nice.. 0.78 hehehe

Thank you landmark

Hahaha, oh landmark..

Omg.. steel steel steel.. longer term all these noise will be over!

You are the only one who is telling it will go down and then up and nothing happened :)

sr8787 Slowly goin down... Hope nt pn17 soon
11/08/2017 17:05

sr8787 Come 0.15
14/08/2017 18:27

sr8787 going up
15/08/2017 14:12

sr8787 What a waste buying tis stock.. Ppl. Keep telling engine gona start.. Haha
.til now no start.. Oni goin down...
18/08/2017 18:45

hopefully

Steel sector is going back up.. hahaha

Annual Report 2016


sitia In the 12 months ended 31 December 2016, we managed to achieve an operating profit before taxation of RM2.09 million as compared to an operating loss of RM19.82 million in the previous year. This result is achieved on the back of better product margins and a more stable steel market environment in the first half of 2016 with the recovery of steel price after a difficult year in 2015.

The turnover of 2016 was RM399.62 million, lower by 18.72% than RM491.63 million achieved in the previous financial year. The lower turnover was primarily due to cessation of pipe mill business. This is part of the realignment exercise to focus on the core products.

On the earnings before interest, tax, depreciation and amortisation (“EBITDA”), the Group registered a much improved EBITDA of RM32.41 million compared to RM12.97 million in the previous year, an increase of 149.88%.

As part of on-going efforts to improve the financial performance of the Group, the Group remains committed to carry through the turnaround plan and to stay focused on the following areas :-

i. Core coated products;

ii. Strengthen balance sheet to improve working capitals and cashflow;

iii. Human resources right-sizing;

iv. Plant operation improvement on yield, quality and cost; and

v. Cost – effective procurement and inventory management.
13/08/2017 23:48

so red a day still dun want panic sell.. sad..

Don't be too evil.. let it happen by itself is better.

Hahaha...

thanks to north korea.. need to drop a real bomb

Share price is always about future prospect not the past Qoq. Lets see how it will go by the operator. I can't get the price i want too.

http://www.theedgemarkets.com/article/steel-counters-rally-amid-rise-chinese-steel-prices-expectations-lower-supply

China produces 50% of world steel

yup still early if it drops.. steel sector future prospect is good especially today..

Those who sold this morning is crying now haha

Oh no.. the train is moving !!

i feel very sad.. not many people are selling off.. no strong selling pressure..

haha, yes, please panic sell everything. Then BUY BUY BUY

A lot of people are interested in ykgi. Especially its warrants.. love* love* love*

Steel sector play coming !!!

Where are the panic sellers?

BUY BUY BUY

This counter has trapped many people. Might be wiping out all remaining bottom fishing individuals. Huhu.. interesting to see the blood bath if it happens..

Good game.. bad qoq..

Later we see those who chased and the price drop.. hahaha

Doer ya it is valuable shit stock.
09/06/2017 16:08

Hahaha.. this is what we call sour grapes..

Olga Doer personal think it is good counter and with cash rich in hand. company just bought land for expansion. Observe for quite awhile n share price ard this range no big fluctuation. Perhaps waiting for time to boost...
28/05/2017 14:23

JUST WAITING FOR QOQ TO BE RELEASED.. AROUND THE CORNER.. AND U WILL HAVE A CLEARER PICTURE.. LASTEST UPDATE ON JAPAN ACQUISITION AND PERMIT ISSUE TOOK A SET BACK, NOT A LOSS YET.. PENDING FURTHER DEVELOPMENT.. ANYWAY GOOD EARNINGS COUNTERS ARE DOWN TOO, SO IT IS FOLLOWING THE MAIN TREND.. IM WAITING TO BUY AT LOWER PRICE IF QOQ IS STILL GOOD.. BUT THE NOSH IS TOO SMALL, SO THE PRICE IS DIFFICULT TO PREDICT
29/05/2017 22:49

CharlesT There are many individuals ... promoting themselves as 'sifu' or 'guru' .... please count me OUT. Thanks

Anyway, I m 50 now, officially. So ... time to rest my cases ... move on to find more meaningful life ... and yes, moving away from crowds. While I will still blog here ... once in a while, I may also want to get a new blog and re-start things ... again.


Yes...time to move away from stock market...

Yr talent could be in goreng keropok trust me
02/06/2017 08:46

I totally agree with CharlesT..

CPTEH's comment:
Marketing is everything in ... hmm ... finding members or public to trust 'you'. I m not doing that, obviously. Yes ... I m not. I prefer to be by myself as I need to study for my exams. I need less noise ... and for that, I do not promote/market myself as I 'should' ?

ANSWER:
U are seriously too lonely or depressed. At 50 and u still haven't get it right. Get a life! I remember u were selling everything and asking everyone to sell everything and go into hiding n the bull market came.

CPTEH's comment:
There are many individuals ... promoting themselves as 'sifu' or 'guru' .... please count me OUT. Thanks.

ANSWER:
I don't see anyone regarding u as a sifu.

sad la yeelee does such a thing.. haha..

not bad still 0.90