Sounds good! Still have proceeds or warchest for later opportunities?

I think there's a fair bit of red flags for Chinwel: on EU losing the anti-dumping law against China and the roller coaster ride on Forex now. Depending on when the contracts were negotiated and agreed on by Chinwel with their customers and suppliers, this can affect the overall turnover and margins for the next few qtrs to come. Not easy to hedge effectively this time.

Even before forex gains, the muted topline growth is already a red flag. Only saving grace is the huge jump in domestic revenue. But then again, management has explained that it's due to pre-GST stocking up...

Yeah, low raw material costs and better product mix contributed to higher earnings, but...how sustainable is that? I still prefer topline growth

Will observe next quarterly results to decide on whether to dump or hold

hi all sifu, umwog and armada... which is better?

i'm actually thinking umwog is better cause it has better management

How do you judge umwog has better management?

Did anyone listen to the breakfast grill session with Arul Kanda just now?

This guy is really... really... good. Very smooth talker and in control of his temperament. Quite assertive and careful with his words, facts and statements. They definitely got the "right" man for the job.

pink spider your tektek

Apa pasai kena audit by custom?

For quite a while the Steel Industry has been making hoohaa with the govt... thanks to China.

So the raids this round was probably due to suspicion by Customs on the importation irregularities for steel versus their declarations and financial records. The raids conducted was a "surprise" industry-wide audit and investigation. No official reason given.

Some of the main comps that kena raided: Hiap Tek, Ann Joo, Southern Steel, Wah Seong, AISB.

The raids were conducted by the Customs together with other government departments such as the Royal Malaysia Police, the MoF and the Attorney-General’s Chambers of Malaysia.

Shipping and accounting records relating to the importation of hot-rolled coils (HRC) have been taken into custody and some bank accounts temporarily frozen.

It's a good sign if Custom's have released those frozen bank accounts and have returned documents taken without any issue.

I read - Arul Kanda is winner for public speaking when he was young.

Yeah... he debated a lot at RMC and is a lawyer by training.
I'm sure his gift for the gab and other talents did him well in his other prestigious positions in various past comps.

Hmmmm SKPetro's results is out.

A lot of comps seem to be taking the opportunity to do as much impairment as possible.
Example: SKPet, Maybulk, Annjoo, UMWOG

Two comps with record 1 bill impairment: SKPet and Maybulk. Not surprising and should be expected.

Question is... should we expect more impairments and write-offs to take place on fixed assets and receivables or the major clean-up is done and share price now shud have been factored already?

Good thing about SKPet is they are still fighting hard to replenish their orderbook. UMWOG no news at all on orderbook. Their non utilisation of 4 rigs out of 7 = very very bad news for them. So far, I've not heard of any lay-offs for that comp too. Both UMGOG and SKPet's borrowings are getting fatter with each qtr >_<. If not careful, their finance cost is gonna whack them real hard and makan their profits kao kao like 1MDB.

Hiap Tek's results is out.

The Joint Venture's results is pulling their performance down @_@. I really wonder how mgmt is gonna handle this situation.
The JV is getting whacked by unrealized foreign exchange loss arising from USD denominated shareholders’ loan and on the higher cost associated with
the trial production, which have now been suspended since Oct'15.

With each day ticking since they stopped trial production... fixed cost, finance cost and forex differences is piling up....
How long can the Comp afford for the JV to continue to bleed them dry from all the advances and investments being pumped in?

On the Comp's operations side, mgmt seems gungho on the prospect of strong pipeline of construction jobs till 2020 driven by public transport, oil & gas downstream infrastructure and water-related projects.

*close eyes*

haha
Actually all this news is irrelevant to you if you're doing short term trading. Since you're already in at the low and already making 15 to 20%, good enuf d.
See if the market is nice enuf to let u get your 33% or more.

But ignoring the JV losses

Their main operation is improving, gross margin improved from 8%+ to 10%.

If domestic demand for steel improves, their results will improve.

since when you got hiaptek in your portfolio...

p/s: your avatar

baru beli seminggu je

Now thinking, wanna take the 15% profit or not

1 week make 15% profit damn good ad lor.....
i haven't loiter here for a while, not sure what's going on lately. been working about 16-18 hrs a day. its killing...

What happened to the multiple bagger philosophy?

When paycheck time you'll be or laughing all the way to the bank.