This company might not benefited the most from what has happened in the steel industry, but this company is way behind other steel counters in the of share price, something big is happened with Angang (HK listed steel company with RM2 billion market cap), turnaround company and actually this company is making RM40m profit without the loss attributed by the JV
We refer to your Company’s announcement dated 15 June 2016, in respect of the aforesaid matter. In this connection, kindly furnish Bursa Securities with the following additional information for public release:-
1. The background information of ESSB, Angang-HK and Ansteel Group Corporation, China including the principal business activities, date of commencement of operations, identity of the directors and major shareholders together with their shareholdings;
2. The date ESSB ceased its production and the reason for the cessation;
3. Whether the directors, major shareholders and/or persons connected with the directors and major shareholders of the Company have any direct or indirect interests in the MOU.
1. The background information of ESSB, Angang-HK and Ansteel Group Corporation, China including the principal business activities, date of commencement of operations, identity of the directors and major shareholders together with their shareholdings;
HTVB’s 55%-owned jointly-controlled entity, ESSB, is principally engaged in the operation of a blast furnace, and production and sale of steel slabs with an annual production capacity of 700,000 mt.
Angang-HK is a wholly-owned subsidiary of Ansteel Group Corporation, China (“Ansteel”). Ansteel is a Chinese State-Owned Enterprise. Headquartered in Anshan, Liaoning, China, Ansteel is one of the largest steel producing companies in China and in the world, and is ranked as a Fortune Global 500 company.
2. The date ESSB ceased its production and the reason for the cessation;
ESSB temporarily suspended trial production in October 2015 as a strategy to minimize losses in view of the then depressed market for slabs, soft demand and the increased volatility of the foreign exchange rates.
3. Whether the directors, major shareholders and/or persons connected with the directors and major shareholders of the Company have any direct or indirect interests in the MOU.
None of the directors, major shareholders and/or persons connected with the directors and major shareholders of the Company have any direct or indirect interests in the MOU.
Angang-HK is a wholly-owned subsidiary of Ansteel Group Corporation, China (“Ansteel”). Ansteel is a Chinese State-Owned Enterprise. Headquartered in Anshan, Liaoning, China, Ansteel is one of the largest steel producing companies in China and in the world, and is ranked as a Fortune Global 500 company.
This is Fortune 500 company, Malaysia only got Petronas in the list if not mistaken
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....
kennny
186 posts
Posted by kennny > 2016-10-26 09:47 | Report Abuse
blameuse really sohai now la....hahahhah