Duta land has lots of cash, but kedekut !!

After touch high of 56 cents keeps dropping till now. Give lah some dividend, or use the cash by investing in some undervalued shares that has potential gain. Then price will go up.

Wait so long also price never go up beyond 50 over cents. Directors slowly collecting maybe, and later after got enough, then only price up ?
High NTA, no use, unless taken over.

Dutaland should also move as they have sold land to Boustead for a hefty profit. Is a further dividend coming after the 5 sen div declared and paid. ?

Does PA pref share need to convert to Mother share at 80 cents.? Normally Preference share is ranked higher than ordinary share, and thus no need for conversion. Correct me if I am wrong.

Why do some buy WB, when ex px is higher at 1.70 compared to Call Warrant at 0.95. Premium of call warrant is around 5% compared to Company warrant premium of 45 % !! No doubt CW going to expire just about 1 month earlier only, but it is less costly !! Time frame difference btwn the two , only around 1 month !!

I dont understand why people buy Pref PA, to convert to Mother, have to pay 80 cents !! Better buy ordinary or warrant, changed to Mom at 50 cents.!!

Public Invest, technical buy on Mmode.

Good if someone can link Dr David Lim analysis to this Forum.

Worth to try. Fair value should be around 50 sen otherwiise why people buy at 57 cents. Cash rich. Sabah project game changer.

Sabah 260m project will contribute greatly to this small company share.

Very good share in these trying times. Interested parties saw value, and paid 57 cents for controlling interest !!

Fair value should be around 50 cents since it is CASH rich company with Zero borrowings !! Coming result will be a good one.

Undervalued and still undiscovered by many !! Read David Lims article.

Calvin, thanks for all of your articles which I enjoyed very much.

Some of your shares strike paydirt, some dont. I only benefited from Tanah Makmur. Missed Super, Opcom, etc from not being patient.

Recently you reco TA enterprise. Ekovest, Mrcb and TA all were around 60 cents. Eko and Mrcb were down as construction sector had negative news.

I then bought some TA as it pays some dividend higher than the other.

Will be considering FL as it used to be around RM 2.

Thanks, once again and keep on writing. Like a game, you win some, you lose some.

Tempted to cut loss as bought at very much higher price, but wait for AGM for news.

Very volatile share, made some, but then, lost more when greedy, playing call warrants.

Ave down when price goes lower.

Thanks for the answer. Wondering if can gain a bit, either buying mother or CW, , lose a lot from Heng Yuan Call Warrant.

If you buy C4, the ex px is 9.40 and ratio is 8:1. After bonus of 1:1, does it mean that Ex px is half of 9.40 ?

From experience, normally after bonus, the adjusted price will go up, isnt it ? Thanks.

Those playing Call Warrants please be extra careful. If possible please cut loss and never, never average down as, if the trend is bearish , you will lose more !!!.

From a position of tens of thousands of profit, due to averaging down, every now and then, of CD( cost 1.10), CE (0. 80) Call warrants, expiring today, and the fact did not cut loss as price drop of HRC is drastic,from 14 rgt to 8.60 rgt lost many tens of thousands of hard earned money.

I think many CW players losing lots of money now. Just hope HRC will recover. Heng Yuan very volatile, and not everyones cup of tea. Must act fast to protect capital, which many fail to do.

Traderman, please dont rub it in somemore!!

Lots of people suffering from this share despite the strong fundamentals. People do make mistakes.

Inv Bank wants to minimize payments, so price go lower. At least KYY does not sell anymore.

Many of us caught by surprise Q4 result and great fall in price. Tho losses amount to 5 figure, due to not cutting losses, believe it cannot go any lower.

Believe bottom going to reach soon. Hang on.

White candle appeared, as closing price above opening price. Lowest price was 12.50, but then recovered to 13.16.

After a few more days, stability will return and many will then base decision on facts, not on expectations or emotions of fear.

Fact remains that business is always profitable, margin maintained as HRC can source from WTI and not Brent.

ROE is very high, Eps is also high. Dividend has been declared, and thats a good start.

Slow and steady recovery better than roller coaster movement, and from FA analysis, HRC is still good.

The Q4 result is actually OK, increased compared to last year. Whole year Eps is RM3.00. Which share in Bursa has a higher Eps than this ?

Q4 profit affected by higher Admin expense, probably bonuses paid to staff for the good performance. Also payment of Tax of over 60 million for the first time compared to other quarter. Operating profit actually increased and that is important. Also HRC bought 80 over million for equipments for the upcoming upgrading.

Do take note that It is already 2 months now from end Dec, and so far the Crack spread for Q1, 18, is good. Shares usually look forward months ahead, so after the initial disappointment and shock, rationality will be back.

HRC is still the cheapest Refinery if you compared it to others at PE less than 5x. The Dividend, tho a paltry sum, is a good start as mgmt have to conserve cash for upgrading expenses, and recognises that Dividend is an impt factor for investors.

When Q2 result out, which was below expectations, price fell but quickly recovered.

Sooner or later, investors will realise that HRC is still in good hands, business is still good, and price will slowly recover to PE near to Petron. We should ponder what other business can give such good returns ?

Noticed that there are many naysayers out to discredit HRC, almost everyday saying HRC price will come down. Wonder what do they gain from doing that.

Only few more days b4 Quarter 4 results out. Let us hope HRC pull surprise by considering a small dividend, or splitting to make shares price more affordable. Then the price will probably jump up. !!

Remember, after Q3 results out, price jumped and gapped up. Some CW buyers so bullish, willing to pay 60 % premium ( CS )compared to almost 0 % premium for CD and CE.

Meaning on 22/3, it will be cash settled, after the Mother price and CW price has gone up, due to the very good result!!!

Petron eps for year is 1.50 rgt x Pe 8 = RM 12.00.

So Heng Yuan, complex refiner should be RM 2.40+ 1.00 ( Q4 )= RM 3.40 year , after tax eps, x Conservative PE 6x = RM 20.00.

Tomorrow should see re- rating of HRC.!!!!

People who dislike China management should consider Volvo takeover by Geely. Now Volvo on right path to profitability.

HRC is also managed well by ex Shell staff and by HRC from China that has already attained Euro 4M standard.

Other refiners all making good profit for 2017, and their PE above 10x.

for those who bought at high price, do hold on. Believe HRC price can go up as price range getting narrower, and it can go up more.

Call Warrants CD, CE and CF, is very fairly priced,very low premium, and will be cash settled few weeks after results announced. Thus hopefully price will go up.

Hope article will convince others that HRC is still worth keeping in portfolio. Very much undervalued compared to its peers.

Still have faith in HRC despite what others say.

Their ability to secure loans shows their management capability as Banks would have done due diligence b4 lending.

Today, its resilience shown by recovering fast from 12.14 to almost RM 13. Would have preferred it to go above 13.04 to signal a buy, but 12.96 good enough.

Assuming Q4 taxable, est EPS around conservative 1.00 rgt. Total Eps of 3.40 achievable. KYY mentioned went down due to growth reason and not on PE as holders afraid growth down due to maintenance and lower crack spread.

HRC growth still OK, as Q! 2018 should still comes with around 1.00 eps. This is due to crack spread still lucrative, and the refinancing could save some interest cost, and some forex gain. With huge inventory, maintenance period will not erode profit so much. SO far Dr David Lims article really helps us to understand Refining companies.

Overall, other Refiners in the world reporting increased profit like Valero, SK innovation, etc. Price closing above RM 18.00 is highly achievable.

With so many Call Warrants issued by IBs, there is still no write up by any of them on HRC. Still think CWs- CD, CE offers good value as it expires after explosive Results announced.

Just cannot understand why such strong fundamental shares like HRC can be sold down. Anyway, price may move up after Expiry of CA to CC.

Results will be known b4 end February, and strongly believe Eps will be around 3.40 rgt. Recent borrowing by HRC shows there is possibility of a Dividend being declared, should results be good.

HRC has been planning far ahead for Maintenance and Upgrading work . They have been stockpiling inventory so that they can still sell refined products whilst doing upgrading.

Crack Spread is still good for January, Rm is strengthening, so still cant fathom why people would still sell at such low price. What could be their reason ?

Still believe in HRC and buying when price bottomed out, as it is the cheapest Refinery Stock at this price.

good effort to inform investors.

Look at the Call Warrant buyers, paying hefty premium !!! If only they buy the Mother share, then it will also pull ALL the CWs. !!!

HRC 4 th quarter results will be undoubtedly good and surprise many. January about to end and so far the Average Crack spread still maintain above USD 10.

Should HRC price go down, many will see it as a really good bargain, and will raise capital to buy. As can be seen from recent CW Ex Px, fair value should be above RM 18.00

As write up stipulates, eps of 42 cents is reasonable, and with PE 10x, the TP should be around RM 4.20 at least.

Wow, the Conversion Ratio gets higher and higher !! Imagine 25x to 30 x, and Maybank Ex Px for latest CW is RM 19.00 !!

Strongly believe HRC is a very good investment, though at present undergoing momentary weakness due to profit taking, or low confidence arising from negative comments.

Depeche, I thought you are bullish on HRC.?

Please clarify what you meant by wishing those stocks to dive 90 % !!

David Lim's write up on Ann Joo very informative.

Predict price will go up since AnnJoo makes profit even when other steel players lose money due to their Hybrid Furnace which can make use of Iron Ore or Scrap iron.

2018 profit will be more if ASP of Rebar remains at January level. There should be at least 20 % upside from current price.

Nice dividend will also be announced soon as it has highest Div Policy among Steel Players.

very detailed analysis, excellent write up.

Grace Chang mentioned syndicates wants to sell and push to RM9 !! Do you think this can be achieved ?

We can observe, when price reach RM 12, there was very strong rebound. It is better for HRC to climb slow and steady than jumping high, and then sold down !!

Many blog writers are still bullish on HRC as they know all the positive facts have not changed as one can read from Dr David LIm's article.

Agree with satan 118, important , all CW buyers, defend the Mother share and be assured, fair value should be more than RM 18.00

IBs Ex Price for conversion of its new warrants should give a good indication of HRCs future price.

Felicity suspect something big brewing as Mrcb raised capital thru placement and rights issue.

Calvin Tang also bullish on Mrcb due to EDL, plus it is an election play and owns strategic valuable pieces of land.

Mrcb play will be like DRB, a GLC, whose price has already risen.

tokohM, agree, these 3 will expire just b4 result announced !!! That is why I promote the 3 most fair value CW, with low premium, and expire AFTER the results announced.

These CD,CE,CF have low premium and have gearing effect, as compared to others with higher conversion ratios and high Exercise Price of 18,and 24 rgt.

Results of 4 th quarter assuming 24 % tax, estimated at 1.00rgt. So for year is 3.40 rgt. HRC has already touched 19.20, but never closed a RM 18.00.

Latest Call Warrant has Ex Px of 18.80 rgt. Hope HRC will touch this level just b4 CNY, to give fat Ang Pow to those who knows HRC fundamentals has Never changed!!

Even at 19.20 rgt, PE still below 6x !!!! Like KYY said, name me another share that is better than HRC in terms of Eps, Roe, etc.

Bank borrowngs by HRC shows Banks confident on HRC business and ability to repay.

Could be a move to give dividends to give confidence to share holders.

KYY said HRC has no change in fundamentals , yet price fell so much.

Predict more buying in the morning after Dr David Lim's article on Crack spread allays fear of lower spread.

As mentioned in Part 8, more positive factors. As most weak holders have presumably sold, price should be able to climb, with bouts of profit taking.

Should price able to close at RM18 or above, then uptrend resumes.

A fair estimation of total eps for year is 2.40 + 1.00(after tax )= 3.40 rgt. Assuming a low PE of 5x, will reach RM 17, at least.

Call Warrants CD, CE, CF still offers value as compared to others after CG.

Amazing , some of the Call warrants are at a discount !!

A very conservative estimate !!

Due to probability of tax at 24 %.

Bullish engulfing, and all other indicators like RSI, MACD, Stochastics all show bullish signs.

Monday, probably will gap up. Short term, hope it goes beyond RM 19.00.

At this price, PE around 5.5x, and the Net Eps after tax of RM 3.40 for year. Net after tax eps of RM 1.00 for 4 th quarter.

Please read Dr David LIm's write up on HRC, Part 8. Detailed analysis shows Net after tax EPS for year estimated at around RM 3.40.

HRC has touched RM 19.20 before going down to RM 16.30. Believe very conservative PE of say 5.5x, will give figure of RM 19.00.

However, without doubt HRC will go beyond this price, as most weak sellers probably have exited market.

Those cant afford buying ordinary shares, do try Call Warrants of which, value for money with reasonable premium is CD, CE, and CF. They have less than 5% premium, and matures after results known..!!

Excellent article to dispel all hearsay about crack spread going down. Fair estimate of after tax eps for year is around 3.40 rgt.

Using very conservative PE of 5, Price is RM17.00, 6x, price is RM 20.00

About CW, still believe value for money, with reasonable premium is CWs - CD, CE and CF. CB is really undervalued !!

Monday, for sure gap up !! Hoping HRC will go beyond RM 19.00, so that most of us will recover our losses, especially for those too stunned to cut loss !!!

Wow, rebound was unexpected as some cautious of - dead cat bounce.!! Thomas Han, double bottom means it hit the bottom, say `12 rgt, then later again 12 rgt, and moved up. its the reverse of Double top.

Many Call Warrant exploded, especially CF, jumped from .355 to 0.62 !!! From TA point of view, formation is Bullish Engulfing, which means Monday will probably move up. !!

RSI moved up, Macd crossing, Stochastics crossing, all are bullish signs. As HRC has touched 19.20, believe that it can move up as weak sellers gone. However, it has never closed at RM 18.00 !!!

Thus, hope its fundamentals of 3.40 eps for year, and a very low 5x PE, will make it go to its Conservative value of at least 17.00 rgt., if not more.!!

If you watch carefully, the lowest for the first part of the day always in the morning, but in the afternoon, it will be lower still.

Today, if it does not close lower than 11.40, then hopefully HRC will .have meaningful rebound.

Latest Call Warrant is -CO, and the Exercise price is RM 18 !! Before that it was RM 24. Overall the IBs bullish on HRC.

When shares on uptrend, worth to consider CWs due to gearing effect. Conversion ratio of more than 10:1 is less sensitive to price going up.

Believe those CWs , maturity after results announced, by end February, worth to consider.

She is able to predict HRC will fall to 9 rgt due to major syndicate selling. How does she know that, unless she has access to the syndicate.

Hopefully first day of rebound after all weak sellers have exited.

Fundamentals dont lie. HRC has eps of 3.40 up to 3 rd qtr. Estd eps of 4 th qtr is v conservative is RM1.00.

At RM 13.60, PE is only 4x.!!!! So far in the news, there is no fundamental change in HRC. Low crack spread in Mogas 95, offset by higher margin in Diesel and Jet fuel. A high growth share does not deserve this low PE..

With higher Crude oil, there is inventory gain, and with RM up, forex gain. The only possible reason is due to Margin Call force selling, or those speculating on higher prices and playing Contra.

Very soon it will hit bottom, maybe around Rm 12, then rebound will be fantastic as the downturn. Sellers spooked and panic when heard HRC margin reduce greatly, which is untrue.

One indicator of bottoming is a v low RSI, low MACD and low Stochastics below 20%. A short body hammer with long tail followed by white candle may signal a turning point.

Crisis can be opportunity. Easier to buy in downtrend where many sellers. the A to M, N Call Warrants issued by 5 IBs could be a reason for the fall.

Be greedy when others fear, so good to average down Mom rather than CW.

One call warrant has EX Price of RM 24 !!! So IBs as a whole still bullish on HRC. !!

jackfruit, crack spread is still high. Do check your facts. Read Dr David LIm article.

Kenanga in todays tech highlight stated major support at Rm 12.60. Resistance at 15.15 rgt.

From observation, Company warrants close to expiry will go down, e.g. Gadang-20 cents, MKH. 10 cents. IBs try to avoid losing money on their CWs, or paying out more on Expiry as it is cash settled.

It is advantageous for them if Mother share, aka Ordinary share gets lower when the CWs going to mature. You can note that normally they will create panic by withdrawing their buying quote from 4.30 onwards, .eg. CF.They are the Market Maker.

If all investors know their trick and concentrate on supporting HRC mother share, disregarding their CWs, then price will go up and CWs accordingly.

Do Buy when price has bottomed out, i.e. RSI, Mov ave, Macd, Stochastic, start to move up, or when hammer formed after sell off, with confirming white candle.