Steel counters latest quarter result will drop at least 30% from previous quarter due to MCO n restrict to only 60% of manpower for most of the steel manufacturers for June...the good quarterly result of Hiap Teck n half of the steel counters maybe due to lower cost for their old inventory n for HIap teck, the associate company(Eastern Steel) involved in iron ore mining n making of iron slab do push up the profit of HiapTeck..
Ask them why supermax at 2.44 only (4.88 pre bonus price - exactly as i said below 6.00).
Ask them also why dayang lost money when there is no monsoon midyear. Where is dayang now? 1.00.
I told u steel play always fizzled out quickly for the past 30 yrs bcause steel business earnings are very seasonal and not sustainable and erratic. As a leading indicator, steel share prices cannot move up bcause they are factoring in future earnings downturn now. Understand?
https://tradingeconomics.com/commodity/steel Chinese steel price goes up RMB102 to RMB5,709. Did steel price collapse today ? The chart of steel price is still very bullish. Most of steel stocks turn green today despite a big drop in DJI.
The main reason for DJI to drop a lot today is because of FOMC meeting. Investors are worried on FOMC meeting starting today and tomorrow (US time).
The above are facts and figures, not faked news. Thank you.
Posted by rr88 > Aug 27, 2021 10:55 AM | Report Abuse
Will come down to plug chart gap at 0.405. Sell! ----------------------
This person has no credibility at all, he just simply shouted sell without doing his homework. The share price will drop back to 0.405, I am more than willing to challenge him. Please give the timeframe for the share price to drop to 0.405. 1 month, 2 months, 6 months or 1 year !! Please do not come here to disturb, any positive or negative feedback or sharing with good information is always welcome. Come here to talk without facts and figures is not welcome at all.
Please do not come here to simply use wrong TA to shout. Please note that I am also know how to read technical chart correctly.
MYR1.00 FV based on SOP. We apply DCF valuation on Hiap Teck Venture’s primary operations and FY23F (Jul) P/E on JV earnings to deemphasise the current spike in steel prices on its valuation, and perceive considerable upside potential even under our prudent parameters. The group’s partnership with global steelmaking major, Beijing Jianlong Heavy Industry Group (Jianlong Group), has proven to be a masterstroke, as the 35%-owned Eastern Steel (ESSB) JV’s sweeping turnaround into a pivotal profit driver will serve as a key re-rating catalyst for the stock.
Hiaptek benefits more and more from increasing steel furnace production capacity due to more than 40% dropped in iron ore price. To be strategic, should buy more on the steel stocks with steel furnaces capacity like HIAPTEK, Annjoo, etc.
OTB, 1st time seeing you cannot tahan someone. Just ignore rr88. Treat it as life learning because we cannot avoid such people in life. Learn how to ignore, not angry, not tahan but ignore. Don't spoil your health because of the nobody in your life.
China total market capitalization is equivalent to 79.2 trillion, Evergrande crisis won't crash China market because the amount involved is only 367 billion therefore it's not necessary for China government to rescue the company !
China is holding 3 trillion US bond, so the bad debt of Evergrande not bad enough to damage China financial system !
steel industry won't crash because there is strong demand from China market .And lately Afgan is begging China to rebuild her war damage infrastructure.
US is planning to lay out national infrastructure projects very soon.
The demand of steel is very strong at least for three to four years !
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....
Kevin Tam
538 posts
Posted by Kevin Tam > 2021-09-20 14:42 | Report Abuse
Steel counters latest quarter result will drop at least 30% from previous quarter due to MCO n restrict to only 60% of manpower for most of the steel manufacturers for June...the good quarterly result of Hiap Teck n half of the steel counters maybe due to lower cost for their old inventory n for HIap teck, the associate company(Eastern Steel) involved in
iron ore mining n making of iron slab do push up the profit of HiapTeck..