HIAPTEK result in actual was boosted by unrealize forex gain RM 145m, which if without these gain will only record small profit only. Take note these unrealize forex gain is till end July which USD is still holding strong above RM 4.70.
Eastern steel currency gain may reverse to loss as USD have tumbling from RM 4.70 to RM 4.12 now
Heng sifu3, last time ESSB reported huge forex translation loss you said RM strengthen will reverse and reported profit back. How come this time RM strengthen will results in forex translation loss? What lar you, confuse3 me like Confucius...
Hiaptek result is almost due to ESSB UNREALISE foreign translation gain RM 147m (remark: these foreign translation gain is due to ESSB trading USD account which is at highest strength against RM during April-July period. As much as 87% of ESSB steel are export oriented, therefore, most of earning are USD denominated, only 17% is local sale in Msia. https://htgrp.com.my/corporate-presentation/
HLIB Research said the results had beat its expectations. The showing accounted for 114.5% of the research firm’s estimate, due mainly to a better-than-expected contribution from joint-venture firm Eastern Steel Sdn Bhd (ESSB).
Remark: Extreme bias HLB research to omit ESSB profit is mainly due to UNREALISE foreign translation gain RM 147m, which could reverse in next Q result due to significant weakness in USD currency.
Additionally, the scheduled completion of ESSB’s hot rolled coil plant – expected by the fourth quarter – will enhance the group’s product offerings in both domestic and export markets.
ESSB foreign translation gain RM 147m mean ESSB have big exposure in USD account during April-july period. These translation will become loss as USD exchange rate tumbling after July from RM 4.70 to RM 4.12 now. ESSB export 83% of its product in USD denominated
Horsey sifu, ppl fear and sell leer, warrant3 buffet said buy when ppl fear3mah... I ex most steel company making3 losses, some huge3 losses, but hiaptek still can report a little profit....boleh lar.... If steel collapse may be it is last one to die...
Heng sifu fight Hiaptek when hiaptek reported loss, and ESSB has a huge loss3 in forex translation when RM went down. Sifu ended cut loss... Now the other way round ,.and he see no hope... Dunno he will later chase hiaptek or not3...
Phone and other sifu mentioned before imported steel takes months to sampai. That means the steel sells in market now are all imported when USD IS high. World steel price drop, the importer ken sell 20% cheap meh ?throw price got a limit else will die kiaw kiaw first
Betul, China's Index up, Steels price up. Big time recovering, afer war rebuild.... tksw sifu still want to sell you cheap-cheap price meh? .............hehehe........................
The Chinese market for Steel and raw materials rose strongly on the news. Hope after 8/10/24 China market open can continue bring good news for the steel field….
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....
tksw
12,831 posts
Posted by tksw > 1 month ago | Report Abuse
A lot of ppl selling 350, no body want arr? Kakaka...