Posted by tjhldg > 2014-11-07 21:13 | Report Abuse

kikikikikiiiiiiiii

Posted by gyaphong > 2014-11-07 23:44 | Report Abuse

The above property which has a net book value of RM203.856 million has been
revalued to RM461.503 million, thereby creating a revaluation reserve after deferred
taxation and minority interest of RM120.786 million for incorporation into the financial
statements of Kinsteel.

Posted by gyaphong > 2014-11-07 23:45 | Report Abuse

creating additional reserve fund.... good news... watch out on Monday... catch 17.5 if can... crossing 22 cents easily

Posted by bjgdila123 > 2014-11-08 09:38 | Report Abuse

Mon 10/11 no trading at all.....

Posted by Tripaka > 2014-11-09 10:59 | Report Abuse

Habis....

Posted by yungshen1 > 2014-11-09 11:02 | Report Abuse

game over

Posted by Tripaka > 2014-11-09 11:20 | Report Abuse

This is like MAS...
Leech until the company can never return to profitability......
Never.

Posted by Keff Chow > 2014-11-09 22:36 | Report Abuse

is mean ...game over?

Posted by tjhldg > 2014-11-09 23:50 | Report Abuse

kikikikikikiiiii

Posted by tjhldg > 2014-11-09 23:51 | Report Abuse

let see how tomorrow ...

Posted by aliyusof > 2014-11-10 09:25 | Report Abuse

Qualified audit opinion of external auditor and expressing serious doubt on it as an on going concern.

Posted by spinninglotus > 2014-11-10 09:46 | Report Abuse

Perwaja has become too big to fail

Posted by reader > 2014-11-10 11:22 | Report Abuse

The auditors have been making statements of concern since the 2012 report for both Kinsteel & Perwaja, and repeating it for the current report.

Posted by aliyusof > 2014-11-10 14:03 | Report Abuse

A matter of time only. Look at the huge selling volume! Passing over the hot potatoes.
...... ki ki ha ha

Posted by reader > 2014-11-11 11:35 | Report Abuse

If you read the audited accounts, you find that Perwaja have sold off almost all the stocks of raw materials and finished goods to generate cash to pay creditors. What else will they sell to pay the banks, or will there be any cash injection from other parties.

Posted by aliyusof > 2014-11-11 12:48 | Report Abuse

Reader, if stocks are sold to pay creditors, please compare the amounts of creditors and borrowing between previous year and 2014....any reductions or still the same amount?

Posted by reader > 2014-11-11 13:22 | Report Abuse

Comparing the positions (major items) from 31-Dec-2012 to 30-Jun-2014:

Trade payables decreased from RM0.93billion to RM0.56 billion.

Posted by reader > 2014-11-12 09:23 | Report Abuse

In about 2 and half weeks time, Kinsteel & pPerwaja will submit accounts for the quarter July-Sept, we will see their latest financial situation.

Posted by aliyusof > 2014-11-12 10:11 | Report Abuse

Reader, the borrowing in latest audited account remains RM1.3B for Perwaja and RM1.8B for Kinsteel, which are more worrying. Yes, July-Sept will be more revealing, with Kinsteel in danger of PN17. Perwaja is done as it is already under PN17 and faced delisting if its restructuring plan due 23 Nov is not accepted.

Posted by reader > 2014-11-24 13:16 | Report Abuse

Notis pemberhentian kerja to the workers of Perwaja?

http://cipantapirtenuk.blogspot.com/2014/11/selamat-jalan-perwaja.html

Posted by wintane > 2014-11-26 11:01 | Report Abuse

Perwaja should not be delisted, now worker still received RM450 as monthly allowance , rumours says Mahathir son MUKHRIZ will give a hand for saving the PERWAJA ,since his father hv corrupt a lot of money...............fr PERWAJA

Posted by aliyusof > 2014-11-26 15:18 | Report Abuse

Sendiri cakap sendiri shiok!

Posted by reader > 2014-11-28 19:46 | Report Abuse

Kinsteel escape PN17 because of revaluation of plant machinery?

Posted by eftee > 2014-11-30 01:14 | Report Abuse

Net asset per share RM4.80 or 4.8 sen? I think it is 4.80

Posted by reader > 2014-11-30 10:03 | Report Abuse

1) TOTAL ASSETS = 3,010,371 x 1,000RM
2) Total liabilities = 2,960,421 x 1,000RM
3) So NET Asset = (1)-(2) = 49,950 x 1,000RM

4) Number Of Shares Issued And Fully Paid-up = 1,049,358 x 1,000

5) NTA per share = 49,950 / 1,049,358 = 0.048 RM = 4.8 sen

You are right, it is not RM4.80

Posted by aliyusof > 2014-12-01 11:57 | Report Abuse

Reader, u are sharp, yes escape PN 17 because of revaluation of land and machine.... but difficult to escape under coming 2Q or 3Q results. Please look at the massive short term borrowing and its guarantee of Perwaja debt.

.

Posted by eftee > 2014-12-03 23:54 | Report Abuse

This steel very strong. Did not drop these few days. Or is it no more to drop further

Posted by eftee > 2014-12-04 11:27 | Report Abuse

Sorry. After I opened my big mouth it dropped. I got no more interests here

Posted by aliyusof > 2014-12-24 04:25 | Report Abuse

http://www.therakyatpost.com/business/2014/12/23/epf-sue-perwaja-steel/#.VJnN74ogkIk.mailto

Posted by spinninglotus > 2015-01-01 07:58 | Report Abuse

Good to hear that Pheng Chin Guan and Pheng Yin Wah are quiting Perwaja. New shareholder might join Perwaja anytime. Let us watch.

Posted by aliyusof > 2015-01-03 08:30 | Report Abuse

Land mine

Posted by aliyusof > 2015-01-10 06:52 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1848565

Posted by MickeyM0use > 2015-02-06 11:36 | Report Abuse

Cheap sales for this counter ....

Posted by A216092 > 2015-02-09 12:27 | Report Abuse

MickeyMouse :Can keep this counter? I bought at very very high price few years ago
. sigh ......

Posted by A216092 > 2015-02-09 12:28 | Report Abuse

Or should I cut loss n shift to other counter?

Posted by A216092 > 2015-02-10 09:50 | Report Abuse

MickeyMouse: Noted with thx! Sigh ...Really get burned as I bought at 0.70 think no way to reduce my losses better switch to earn back my loss.
SENDAI for mid to long term investment ?

Posted by A216092 > 2015-02-10 09:54 | Report Abuse

Now good time to enter Sendai? TP?

Posted by aliyusof > 2015-02-12 10:46 | Report Abuse

Yes, last big trap...

Posted by cherry88 > 2015-02-13 10:11 | Report Abuse

There should be more good news than bad news....

Posted by aliyusof > 2015-02-13 12:37 | Report Abuse

Another MOA...ha ha

Posted by Mr. Jupiter > 2015-02-13 13:20 | Report Abuse

Whats up with this Counter? Electric Tariff reduced.? or more good news?

Posted by aliyusof > 2015-02-16 13:01 | Report Abuse

The Edge (16-22 Feb 15).....Perwaja (Fundamental: 0, Valuation: 0) Kinsteel (Fundamental: 0, Valuation: 1.2)...maximum score is 3.0....... Kinsteel and Perwaja are Siamese twin due to Kinsteel guarantee massive debt of Perwaja.

Posted by reader > 2015-02-17 15:16 | Report Abuse

Looking at the MOA, seems like they are going to build more plants to save the old ones. This is a repeat of the Eric Chia story two decades ago when he built plants in Gurun to save those in Kemaman.

The RM200 million mentioned in the MOA is way below what other steel companies spent for similar blast furnace facilities in Malaysia.

Posted by aliyusof > 2015-02-17 15:51 | Report Abuse

Gurun plant stopped operation already for 24 months, caused by cheap imports from China. Setting up blast furnace is more than RM200m. This is also not enough as you also need new steel making furnace to produce billets to feed current facilities in Gurun. MOA is only not a legal binding document. Nothing will happen at the end. Wait n see.

Posted by reader > 2015-02-17 20:40 | Report Abuse

I was wondering how they got the RM200million estimate or what exactly it is for. Just to have an idea how much money is required for the MOA's proposed "installation of new blast furnace facilities and related downstream manufacturing facilities and related infrastructural work", here are the costs announced by other steel companies in their annual reports for their blast furnace projects :

Lion Diversified Holdings / Lion Blast Furnace Sdn Bhd : USD500 million

Ann Joo Resources : RM650 million

Hiap Teck Venture Berhad / Eastern Steel Sdn Bhd : RM750 million

Posted by aliyusof > 2015-02-17 20:52 | Report Abuse

Reader, right on the dot. This MOU...do not take it seriously.

Posted by aliyusof > 2015-02-17 21:09 | Report Abuse

Big trap....

Posted by cherry88 > 2015-02-23 18:22 | Report Abuse

Somebody is maintiaing the price of RM0.16 with only 200 units done last minute....So, it is not the trap. "They" have not exit. Still a good time to gamble with them. The current price (below RM0.25) is still a good bet ! (Please note Kinsteel has no fundamental at all to talk about, but it is still worth to take the bet....better than going to casino. Buy between RM0.16, Sell at RM0.25, you still have 56% profit against 12% loss (if we cut loss at RM0.14). So, it is 5x bet !

Posted by reader > 2015-02-28 09:01 | Report Abuse

Kinsteel makes profit by deconsolidation - Kinsteel reduces its share in Perwaja changing it from a subsidiary to an associate, so with this change it wash hands off the liabilities of Perwaja and result in a paper gain???

Posted by cherry88 > 2015-02-28 10:41 | Report Abuse

We should focus on its net asset rather than the profit figure. Its latest NTA/share goes to RM0.47 which is much higher than the current price of RM0.15. The debt restructuring is a good move to clear the cashflow pressure and can allow the white knife to move in and focus the operations. The next issue to look for will be its Rights Issue price and the unit price of the placement amount of RM50 mil. These 2 numbers are important to access the overall stock valuation on this counter. In conclude, it is still a "safe" bet given its determination and government effort to lift up the industry.