Or should at the region of RM1,500-RM1,550.

There is another 9% export tax rebate for HRC products exported by China steel mills, so the actual cost of HRC imported by Mycron is actually less than RM1,500

Flying CRC Steel Producers: Fantastic Business Outlook & Insider's Look (Part 3)
http://klse.i3investor.com/blogs/wealth123/104163.jsp

Correction: CRC up 16.5% while HRC up 7.8% since end of June.

Make your own decision based on homeworks rather than look up to some others.

Don't praise too much on the effect of sharks, will tiger affraid of shark? Make yourself Tiger by learning more, assess what people said including mine, blindly follow will only lead you to far away from financial freedom in old age.

Also, success rate in investing based on historical PE for cyclical stocks is extremely low. Surrounding on-going events will play more decisive factors rather what had happened.

Both CRC & HRC prices in China were increasing since end of June, up almost more than 16%, local prices have also increased steadily at slower pace, it will be wise to look at this segment rather than others' which are not so relevant and far indirect, say zinc, or even prices of those in US.

Read this on Page 3 at today Star Bizweek, one down others benefited. When market turn positively, those stay will be the winners.

Good sharing, moneySIFU, no issue with the photos, as long as everyone enjoy it. :)

ilovehits, any supporting evidence or calculation can substantiate your claim?

Hi Chan, I don't have any idea what will company do or reply, it depend how management want to do.

Just want to share the example of Gadang, Tan Sri rejected the ideas of corporate exercises one year ago, now he changed his mind and share price went up from RM2.60+ to now RM3.

Fiamma was another extreme case, corporate exercise caused share price limit up the next day.

While it do no harm to the benefits of the major shareholder, corporate exercise is always useful tools or instrument in pushing the price.

(Though I see nothing changed in everything except more shares in hand)

Will company give us surprise when they reply to Bursa?

Share capital is 70.9m, but total shareholders' fund is 335m, a giant room to do any corporate exercise.

What can we expect?

Share capital 70,886
Treasury shares (359)
Share premium 19,101
Asset revaluation reserve 22,545
Non distributable capital reserve 115,754
Retained earnings 107,513
Total Equity 335,440

http://cdn1.i3investor.com/my/files/dfgs88n/2016/08/29/1484894783-1400944563.pdf

I personally feel very bullish on the CRC future, at least in this coming 1 year. But this is merely my personal opinion.

My entry price is below RM0.50, but I won't sell any of it until RM1.30.

Market need time to rest, price will stay for a while, I think.

The uptrend for whole CRC stocks are at beginning stage, future are bright & very predictable, I believe more to come.

If more research houses start to look into CRC companies, more funds will rush into those CRC companies.

Welcome, moneysifu & thank you, probability.

Sorry for delay in Part 3 which supposed to be out on Wednesday due to my personal tight schedule.

Also, I am writing letter (email) to the company to get some of the information in last few quarters & prices of CRC & HRC, as a shareholder of the company.

Hope they can reply me soonest possible to assist in getting more accurate figures when forecasting coming months figures.

Also, being conservative is always good, just let the market to decide what's best should be

There is priority issue need to be set for respective stocks, I think Mycron should go first since there was misunderstanding by many in reading their latest QR.

chl1989, I totally agreed with you

Hi chl1989, I can only analyze based on annual reports from those CRC companies and try to figure out the true pictures from those accounts.

Most of my findings are based on CSCSteel & Mycron, these 2 are very generous in sharing the info & details of their businesses, especially Mycron.

For Eonmetal, nothing much thing can be digged out because they are giving too little info from their reports.

See what the eonmetal management explained on increase in profits:
"This segment recorded PBT of RM0.6 million, a rise of RM1.3 million is in line with the increase in revenue." - Plant & Machinery Division

"This segment recorded PBT of RM3.8 million due to lower production costs" - Steel Division

YKGI was up & down, also not much things to be digged out.

As a new guy to i3 community, thank you for giving chance to share.

Feel great already for articles being seen by so many investors & readers. :)

Thanks, moneySIFU & Jay, for having good discussion over here.

I am working on Part 3 article which will dig deep into Mycron accounts, from there we may have better & true picture about CRC & HRC industry. Hope to have it completed by tomorrow.

I missed out another issue, import of cheap crc from certain countries, but this has been resolved with the imposition of anti-dumping duties by malaysia government.

Hi Jay, CRC companies faced 2 main issues over the past years, all crc companies are instructed by MITI to take raw marerial supplies (scrap based HRC) from megasteel only, which about RM400 more expensive than those hrc imported from oversea.

All crc companies are only allowed to import ore based hrc.

Megasteel is now closed since Feb 2016 and even its senior manager said in the news that only miracle can save megasteel, so everyone are now sourcing hrc from oversea, a huge saving in raw material cost.

Imagine some stocks used for production during quarter 30/6/2016 were those purchased with old price, but yet every crc companies had already started to deliver good result, how about coming quarters?

On the other hand, Government has imposed anti-dumping duties for all crc from certain countries. This is a big WOW factor.

My personal guess, it will last for at least 1 year, similar to those export companies.

If today can maintain up trend, the consolidation will be ranged between RM0.80-RM0.90, or else will be 0.7-0.80.

Chance to get 1.00 is multi times higher than going back to 0.65, so just try to figure out the risk-reward at your own calculation.

Hi Ibanker, I am currently working very hard on part 3, not yet decide on the title, but will dig deep into the financial figures of mycron. From there, hope we can figure out together the true picture of mycron's future.

Thank you, VenFx

Nope, moneysifu, it is just resting now, more to come

Yes, MonkeyBusiness, it is very interesting

warmblood, thanks for highlight, here you go & I have add into the article also.

To know respective CRC companies' utilisation of the production capacity, please read page 7 of the following report: http://cdn1.i3investor.com/my/files/dfgs88n/2015/11/06/1483789631--639706738.pdf

Thank you everyone

Huge Potential Upside for CRC Steel Producers: CSCSteel (+24 percent) & Mycron (+90 percent) (Part 2)
http://klse.i3investor.com/blogs/wealth123/103812.jsp

Huge Potential Upside for CRC Steel Producers: CSCSteel (+24 percent) & Mycron (+90 percent) (Part 2)
http://klse.i3investor.com/blogs/wealth123/103812.jsp

Huge Potential Upside for CRC Steel Producers: CSCSteel (+24 percent) & Mycron (+90 percent) (Part 2)
http://klse.i3investor.com/blogs/wealth123/103812.jsp

Huge Potential Upside for CRC Steel Producers: CSCSteel (+24 percent) & Mycron (+90 percent) (Part 2)
http://klse.i3investor.com/blogs/wealth123/103812.jsp

moneysifu, I think my working on Mycron's future PE is not far away from yours, let's see in my next article.

Bright Future for CRC Steel Producers: CSCSteel, Mycron, Eonmetal & YKGI (Part 1)
http://klse.i3investor.com/blogs/wealth123/103741.jsp

Wonder why it is not tagged by the admin?

Bright Future for CRC Steel Producers: CSCSteel, Mycron, Eonmetal & YKGI (Part 1)
http://klse.i3investor.com/blogs/wealth123/103741.jsp

Wonder why it is not tagged by the admin?

Thank you, moneysifu, superman 99 & ronnietan

Up_down, my calculation of Forward PE for this company is far less than 6x, I will publish my calculation & working in my next article.

Bright Future for CRC Steel Producers: CSCSteel, Mycron, Eonmetal & YKGI (Part 1)
http://klse.i3investor.com/blogs/wealth123/103741.jsp

Bright Future for CRC Steel Producers: CSCSteel, Mycron, Eonmetal & YKGI (Part 1)
http://klse.i3investor.com/blogs/wealth123/103741.jsp

Masteel is at the other segment of steel industry, the company has been doing very well in trying to keep the operations profitable in tough time.

Bright Future for CRC Steel Producers: CSCSteel, Mycron, Eonmetal & YKGI (Part 1)
http://klse.i3investor.com/blogs/wealth123/103741.jsp

Bright Future for CRC Steel Producers: CSCSteel, Mycron, Eonmetal & YKGI (Part 1)
http://klse.i3investor.com/blogs/wealth123/103741.jsp