traderman-congrats on your winning..

hopefully can reach RM3.60 today ...i bought high at RM3.55 last 2 week...reach to RM3.78 not yet sell , wait to TP RM4.+++ only sell

We maintain BUY on Press Metal Bhd with an unchanged fair value of RM4.50/share – pegged to 12x PE on FY14 core FD EPS of 37.5 sen.

- We hosted a luncheon meeting last week and came away more upbeat on the company’s prospects. Press Metal is in the early stages of an earnings up-cycle.

- Its strong investability is premised on:- (i) improved balance sheet, with net gearing expected to be reduced to 0.9x by year-end (from 1.9x at end-FY13); (ii) upturn in aluminium prices and premiums; and (iii) capacity boost following the production ramp-up at its two plants.

- Key takeaways from the luncheon meeting are as follow:-

- (i) Management expects aluminium premium to be sustainable at the current level, and to only face downward pressure when aluminium prices reaches USD2,000/metric tonne (MT) and above. Depending on the products, global premiums are between USD150-USD500/MT currently (vs. an average of USD150/MT a year earlier).

- (ii) Its Mukah plant is currently wholly-producing billets, which command higher premiums compared to P1020 ingots. At the same time, it is increasing the production of A356 ingots at its Samalaju plant as the product commands similar margins to the billets. Both plants are already operating at a 100% utilisation rate.

- (iii) Sumitomo’s acquisition of a 20% stake in the Samalaju plant has been completed with proceeds of USD140mil. At any given time, about 25%-30% of stocks are off-taken by Sumitomo which has a dedicated yard in Samalaju.

- (iv) Aluminium spot prices (USD1,738.75/MT currently) are currently trading close to the trough level of a 4-year cycle (see chart 2). Prices are expected to increase due to a supply shortfall. For the first time in 10 years, there will be a global deficit (of 730,000 MT) of aluminium products this year.

- (v) As heavy capex has been front-loaded, cash flow generated from its operations will be channelled towards the paring down of its debts. Net debt/EBITDA is expected to improve from 6.2x at end-FY13 to 1.2x by end-FY16F.

- Press Metal is expected to release its 1QFY14 results on 29 May. We expect earnings to be slightly subdued as its Mukah plant was still being ramped up while aluminium prices and premiums had yet to increase. We forecast stronger earnings from 2QFY14 onwards.

- Press Metal is currently trading at an attractive core FD PE of 9x. We advise investors to accumulate Press Metal given the recent retracement in share price. Maintain BUY.

TA securities TP RM4.5
RHB TP RM 5.47

TA securities - TP 19.41 would you believe it? if yes some more RM7 down for tomorrow.. wait and see..Q at RM20 tomorrow!

mat- ok ,thanks your advise..

thanks mat for analysis !

hi mat, what do you think about PMETAL?

Profitman - good morning , sorry i overlook already ,thanks for the analysis and wish you good luck !

thanks mat for the analysis and good luck!

mat, what do you think about Barakah & Maybulk?

ok ... mat, thanks for your kindness and well analyzed, hope also your dad good health~~

Matrix sifu , i just discovered this thread, would you please help a look at Tiger ... Thanks, Really appreciate your help.

Orental dairy news...target price 5.58 now consider buy!

today all glove counter drop ... harta dwn 0.38sen , kossan dwn 0.17sen

4day drop 0.75sen , terrible bad...

bad management , sure the share price drop and drop...

AGM is on 19/3/14 , i think will be up soon

if like this better throw and run away first

most of the O&G counter up today except SKPETRO & BARAKAH

profit taking i think!

okok start to fly ... believe me?

better buy boilermech , both also doing boiler, will be give bonus issue 1 for 1 ... is coming soon

see sumatech already up , tomorrow will be tgoff turn to go up...hahaha

my friend told me tomorrow will go up... wait and see whether is correct

belilah TGOFF ini stk lagi best

this counter is control by Nazib wife , who said can not up? i think is coming soon...

this counter i think no more chance to go up , big shark already take profit n run away ...

don't buy this counter , if up let it up...

why wa still sleeping?? anyone can explain ... TQ

very cheap ...
can collect now , maybe tomorrow will be technical rebound !

better buy SKPETRO TP 4.86 ... today newspaper!

no more wang raya already...hzzzzzzzzzzz!

useless counter , good news also can't moving ...shit!

turun la...gi! TP 4.74 mahu tunggu sampai bila ni?

year high is 0.56 maybe can go up some more

fly high...

ok thanks

how about TANCO ...can buy?

this counter if not going up how to celebrate hari Ramalan for muslim friend hzz... orang atasan tak ada otak!

so many O&G counter also like that , once they accumulate will break one good news let price going up , read tomorrow newspaper maybe got news , long term RM2.40 sure boleh , but before raya better sell off , this one is wang raya... just i guess

this counter all goreng !

when will be up? wake up la!

anyone who know when the court case will be over?

DJ up 105 point
monday sure up to 0.47

everyday drop 0.01 , tomorrow closing should be 0.09

Thanks scott , for the advice. I do agree with your opinion.

if drop to 0.11 can buy for invest because this counter got profit in FY 31/12/12

yes i heard so, port project at Kedah

everyday small volume where got contra kaki