In Expansion mode, the future looks bright Hiap Tech Venture has proposed to acquire a 21.26-acre parcel of land in Kuala Selangor for RM48.6m for its future expansion. The company said the freehold agriculture land has been converted into medium industry use, to be known as Kapar 2 International Industrial Park. The acquisition will enable HTH to own its own warehouses for operations and future expansion without having to pay rental. (StarBiz)
Profit a lot but price no move. Why? Bcause steel play never had any real power in bursa. Bcause steel business big profit come in once in a blue moon & TEMPORARY. Long term view is lousy low margin business skewing to loss making over tine. Sell!
Do agree if China is still exporting, however China had change direction and that is the reason why steel prices keep on heading north and the rest is picking up the fruits and once market consolidate ........... Do sell if you think otherwise, Good luck
Steel market price is still dominated by China market and policies. Due to China high commitment in carbon reduction the steel production is forced to drop at least 30% and no more tax rebate for China steel export. China also encourage recycled steel by using electric furnace to reduce carbon emission. This result in more than 40% drop in iron ore which is the raw material use to produce steel product. But the China steel consumption is still high in China infrastructure project and one belt one road initiative. Besides China, the reopening global economy in US, Europe, Africa, Latin America and Asia have to boost up their economies, the use in steel as basic material in infrastructure and building are unavoidable. Due to these high steel demand and low steel production, the steel price goes up steadily again and almost reach the record high. The current steel price become sustainable and in uptrend condition.
This year, all China steel companies make huge profits and share prices are flying high as well. China carbon reduction policy result in much lower iron ore price, high steel companies profit and lower carbon emission. Malaysia companies steel price and profit will follow the China one. Malaysia steel companies are now the steel exporter to China to meet the demand in China, eg. 60% of the Annjoo steel production are export to China. With expanding steel furnace capacity, HIAPTEK steel business will enjoy higher profit margin and revenue in steel market.
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....
LouisLim
224 posts
Posted by LouisLim > 2021-09-06 13:48 | Report Abuse
China steel price another big up today. Buy and hold to win big.