with ringgit strengthening, i dont see a reason for ESSB losses to be so much. A big portion of ESSB losses are due to movement of currency against the USD loan.
Ringgit only strengthening since this month lah, their quarter account closing date was on October. Sure rugi for eastern steel lar, you can refer to their annual report.
Steel demand in Malaysia for 1H 2017 declined by 7.7% y-o-y was mainly due to a slowdown in demand for long products. The steel demand in Malaysia is expected to recover in the second half of the year and register a positive growth rate supported by the country’s strong economic growth. Malaysia economy grew at a faster pace of 6.2% in the third quarter of 2017 compared to 5.8% in the second quarter of 2017.
The construction sector again will be the main driver in boosting the steel consumption in Malaysia. The construction sector is expected to grow 8% in 2017 and forecast to post a robust growth for the next three years, as more government infrastructure projects are to be implemented as announced in the 11th Malaysian Plan (2016 to 2020) and Budget 2017. Among key infrastructure projects are the East Coast Rail Line (ECRL), the Kuala Lumpur-Singapore High-Speed Rail (HSR), Mass Rapid Transit Line 2 and 3 (MRT), Light Rail Transit Line 2 and 3 (LRT), the Pan Borneo Highway, the Merdeka PNB 118 skyscraper, and the Refinery and Petrochemicals Integrated Development project in Johor.
The continuing efforts by Chinese Government and its plans to cut production capacity will help stabilise the world steel prices which will definitely benefit the local steel industry players. The Group remains positive on the outlook of steel industry with the above essential drivers. The Group is committed to continuous improvement on productivity and technical competency while expanding its products range, and will also focus on procurement and pricing strategies as well as working capital management to drive its costs leadership in the sector.
Posted by Fortune > Dec 21, 2017 06:13 PM | Report Abuse X
VenFx comment on Dec 20, 2017
Stock: [ANZO]: ANZO HOLDINGS BHD
Dec 20, 2017 01:02 AM | Report Abuse
Go buy MIECO @ 0.920 early morning. Xmast small gift for u .
21/12/2017 14:11
please explain to your comment above, mieco presently price at 0.825. you con every one in anzo to buy MIECO for you to escape from your contra dealing. bloody evil contra player VenFx aka fortunee
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zenmaster
62 posts
Posted by zenmaster > 2017-12-15 16:37 | Report Abuse
Pray hard for HT and next Monday will be their AGM, result maybe release after that.