LimCheeKeong..It mean literally that.Convert RCUIDS to Ord shares.If you have 1 RCUID, you can convert it to 1 ord share.However as to why there are people converting RCUIDs now, I have no idea. There is not much price difference between RCUIDs and ord shares. On the other hand, RCUIDs gives interest at 2.5sen per annum half yearly. Much better than ord shares dividend of 0.30sen(25.01.17 last one. 2018 no div). The next payment of interest (1.75sen) expected around 23.06.2018
KUALA LUMPUR: The New Zealand government has launched an investigation into the alleged dumping of certain steel products from China and Malaysia.
New Zealand's Ministry of Business, Innovation and Employment announced the initiation after it had received an application from its industry providing sufficient evidence to justify the need for investigation.
The probe is under section 10A of the Dumping and Countervailing Duties Act 1988.
The goods involved certain electric resistance welded pipe and tube made of carbon steel, comprising circular and non-circular hollow sections, collectively referred to as hollow steel sections.
In a separate statement, the ministry had also launched a probe into the alleged "subsidisation" of certain hollow steel sections from China.
BUSINESS OUTLOOK The outlook for steel industry in Malaysia remains positive as construction investment is expected to grow supported by the 11th Master Plan (2016-2020) where RM260 billion has been allocated for development expenditure through 2020. Challenges Ahead There was a 15.5% surge in imports of iron and steel products into Malaysia of 9.13 million tonnes in 2016 compared to previous year. The weakening of the Ringgit, shrinking market share and growing capacities in ASEAN countries mainly Vietnam will further aggravate the concern to the local steel producers. The concern over excess capacity and the influx of cheap imports from China although still a concern has somewhat alleviated with China’s planned reduction in excess steel capacity. On the domestic front, steel demand will continue to be supported by the Malaysian Government plans to increase investment in infrastructure through mega projects such as Greater KL, High Speed Rail Transit, Mass Rapid Transit, East Coast Railway Line as well as new highways, including Pan Borneo Highway. All these projects would boost demand for steel products and sustain a positive outlook for the Malaysian steel industry.
From HTVB annual report "No segmental information is provided on a geographical basis as the activities of the Group are carried out predominantly in Malaysia"
DAVID SCUTT MAY 15, 2018, 7:35 AM Iron ore spot markets surged to fresh multi-month highs on Monday, helped by improved confidence about the demand outlook in China. • Chinese iron ore port inventories fell last week as steel mill demand improved. • Chinese iron ore and rebar futures rose in overnight trade, pointing to early strength in spot markets today.
Iron ore spot markets surged to fresh multi-month highs on Monday, helped by improved confidence about the demand outlook in China. According to Metal Bulletin, the price for benchmark 62% fines jumped 2.3% to $68.93 a tonne, extending its rally over the past three sessions to 3.7%. It now sits at the highest level since March 16, a two-month high. Both lower and higher grades rallied on Monday, albeit by a lesser margin. 58% fines added 1.6%, settling at $40.70 a tonne. 65% fines was the relative underachiever, rising only 1.3% to $87.20 a tonne. Further signs of strengthening demand may have contributed to the broad-based rally. According to Reuters, citing data from Mysteel consultancy, the utilisation rate at blast furnaces across China rose to 69.89% last week, its highest level since early November last year. Iron ore inventories at 45 major ports in China also fell, dropping nearly 1% last week to 158.76 million tonnes. “The fast pace of reopening at steel mills and falling inventories at ports indicate strong restocking demand,” an analyst at Orient Futures said in a note. The strength in spot markets was replicated in futures trade on Monday. In Dalian, the September 2018 iron ore contract closed at 488 yuan, just off the two-month high of 490 yuan level struck earlier in the session. Coke and coking coal contracts also rallied, closing at 2,084 yuan and 1,260.5 yuan respectively. Rebar futures traded separately in Shanghai rose by a smaller margin, finishing the day session at 3,667 yuan. However, as seen in the scoreboard below, both iron ore and rebar futures continued to rally in overnight trade. “The increase in operations at steel mills in China following the winter-induced production curbs has seen demand pick up strongly in recent weeks,” said analysts at ANZ Bank. “Combined with the better-than-expected economic data, this has boosted sentiment in the steel sector.” The strength in futures suggests spot markets will follow suit today, at least in early trade. All Chinese commodity contracts will resume trade at 11am AEST, one hour before the release of Chinese economic data on industrial output and fixed asset investment in May.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
ZoneFD
212 posts
Posted by ZoneFD > 2018-04-04 19:17 | Report Abuse
Trade war.... Trump agenda achieved... Lol