【KINSTEL 5060 交流专区】锦记钢铁

湖俊

晕，涨10%都可以。

我命由我不由天

唉。。。一直犹豫要不要。。。结果”鱿鱼“吃太多了 患上鱿鱼综合症

thomas2

10%了，1.32

mx_duo

1.36了.

thomas2

今天做突然那么牛了？？

维纳斯之吻

原帖由 thomas2 于 15-4-2008 03:33 PM 发表
今天做突然那么牛了？？

华哥来了

algorithm

2。3！冲啊！

tmsloh

为什么它要请那么多?有什么好消息吗?

amazinghkl

Changes in Director's Interest Pursuant to Section 135 of the Companies Act. 1965
Reference No CC-080415-58130  
Company Name : KINSTEEL BHD  
Stock Name  : KINSTEL
Date Announced : 15/04/2008

Information Compiled By Bursa Malaysia

Particulars of Director
Name : Pheng Chin Guan
Address : A-5188, Lorong Kubang Buaya 80,
25250 Kuantan,
Pahang DM.

   
Descriptions(Class &
nominal value)
: Ordinary Shares of RM0.20 each

   

Details of changes
Type of transaction Date of change No of securities Price Transacted (RM)
Acquired 10/04/2008  50,000 1.200
   
   
   
   
   
   
   
   
   

   
Circumstances
by reason of which change has occurred
: Acquisition of shares

Nature of
interest
: Direct

Consideration (if any)
:  

Total no of securities after change
Direct (units) : 1,660,000
Direct (%) : 0.18
Indirect/deemed interest (units)
: 140,000
Indirect/deemed interest (%)
: 0.02
Date of notice : 15/04/2008  


Remarks
Deemed interested by virtue of his spouse, Goh Yoke Lan @ Goh Mei Leng's shareholdings in the Company.

The 1,660,000 direct interest shares made up of:
a) 2,500 shares held by Mayban Nominees (Tempatan) Sdn Bhd
b) 1,657,500 shares held by OSK Nominees (Tempatan) Sdn Bhd

thomas2

原帖由 amazinghkl 于 16-4-2008 12:29 AM 发表
Changes in Director's Interest Pursuant to Section 135 of the Companies Act. 1965
Reference No CC-080415-58130  
Company Name : KINSTEEL BHD  
Stock Name  : KINSTEL
Date Announced : 15/04/2008
...

五天前的事会有影响吗？？

prince

不止他一支，好像钢铁股全都起，可能钢铁价又要调高了！

xetronic

跌回1.35了。
很想再进几手搏它回升到1.40以上.

thomas2

看到了。。

Steelmakers' shares surge
SHARES of steelmakers rallied yesterday, underpinned by a growing optimism that the government may gradually allow market forces to dictate prices of steel bars and billets.

It was learnt that the Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad held a dialogue with the steel millers last week on the possibility of lifting the ceiling price for domestic long steel products.

The minister will likely table a formal proposal to the Cabinet, industry sources said.

The development buoyed sentiment in steel stocks yesterday, as investors bought more shares in active trade.

Shares of Lion Industries Corp jumped the most, adding 13.7 per cent, or 29 sen, to RM2.40 on heavy trade. They were followed by Kinsteel, which rose 12.5 per cent, or 15 sen, to RM1.35.

Southern Steel Bhd gained 6.5 per cent to RM2.28, while Malaysia Steel Works Bhd was up 5.7 per cent to close at RM1.48.

Another steelmaker, Ann Joo Resources rose four per cent to RM3.14.

International Trade and Industry Minister Tan Sri Muhyiddin Yassin recently told the media that the government is gathering feedback from industry players on the potential removal of ceiling prices for steel bars and cement, the two key building materials.

Although the move to scrap ceiling prices may not come immediately, analysts who track the steel industry said the development is positive for the sector.

If it happens, it could lead to an overall re-rating of steel stocks because it would bring to an end some transparency issues that have been plaguing the industry.

"We continue to believe that Malaysia's long steel sector is in the 'most favourable' environment, thus maintain an overweight call on the sector," OSK Investment Research analyst Ng Sem Guan wrote in a report last week.

Convinced that the sector is in a "super cycle" for the next one to two years, OSK has a "buy" call for all five integrated long steel players, with Lion Industries being its top pick.

thomas2

突然从1.44回来了1.35

tmsloh

是怎么回事,是开始套利了吗?

xetronic

可能性非常高。
但希望这样能走更长远的路。

chookf

公司簡介：
KINSTEL是大馬生產高拉力圓鋼鐵，供應於建築業的主要鋼鐵商。




股價：
股價自2006末的0.40，飆升1.70，達425％，近來受市場情緒拖累，跌至1.21，但也漲了300％。（依據拆細後計算）




分析員評價：
金融界看好KINSTEL，亞歐美 給於1.45目標價，評級『買進』；
　SJ Securities 給於2.15目標價，評級『買進』。




財務狀況：
以下是KINSTEL的財務簡表：


[tr][/tr][tr][/tr][tr][/tr][tr][/tr]

	2001	2002	2003	2004	2005	2006	2007
INCOME RATIO
Shareholders’ funds	80,904	108,376	102,695	124,719	205,889	651,997	783,944
ROE (%)	12.1%	10.3%	9.4%	20.0%	9.5%	11.1%	28.9%
Revenue	330,709	324,095	342,755	453,743	550,201	1,213,464	2,118,165
Oparations Profit	18,021	18,656	20,398	34,886	31,390	124,338[1]	294,550
Net Profit	9,807	11,270	9,700	25,023	19,658	72,629 [1]	227,225
Oparations Profit Margin (%)	5.4%	5.7%	5.9%	7.6%	5.7%	10.2%	13.9%
Net Profit Margin (%)	2.9%	3.4%	2.8%	5.5%	3.5%	2.1%	10.7%
CASH RATIO
Net Cash Generated From Operating Activities -	55,234	(59,777)	388	(44,514)	(119,083)	(193,394)	(22,486)
Net Cash Generated From Investing Activities	(26,232)	(3,100)	(3,645)	(7,117)	(44,165)	(188,383)	(68,613)
AFTER INVEST CASH FLOW	29,002	(62,878)	(3,257)	(51,632)	(163,248)	(381,777)	(91,099)
Cash Flows From Financing Activities	(15,142)	71,709	(11,564)	45,022	178,270	390,404	246,799
Cash and Bank Balances	19,803	27,153	14,126	9,824	54,546	47,483	188,970
Dividend Rate (%)	N/A	17.0%	30.8%	11.9%	22.3%	7.5%	5.9%

[1]2006年other income 356,772扣除




內在價值：
KINSTEL的NTA＝ RM 0.87 (2007年)
7年平均ROE ＝14.4%（因是景氣循環股，不宜採用最新財務數字，應用平均數）
折現率 ＝12% － 8.3%
內在價值 ＝RM 1.05 － RM 1.50




實際情況：
但是，若深層分析KINSTEL，就會發現實際內在價值更低。根據報表顯示，７年來KINSTEL取得
23倍的盈利增長，但實際上卻是虧損183％。


KINSTEL是依靠大量融資，業務才可維持下去的，但也恐怕難以持續下去。


KINSTEL的債務高達6億8千7百萬，光是利息就需6千7百萬，遠遠大於它實際賺取現金能力。


KINSTEL現在是依靠債權人的融資，以及鋼鐵價格好景之故，才可維持，但只要債權人一關水喉，鋼鐵好景總有一天也會結束，KINSTEL隨時有可能面臨清盤的危險。




內在價值的修正：
因為KINSTEL缺乏創造實際現金的能力，所以內在價值只能以資產來清算，根據其各項資產的類型打個折扣，再減去債務，實際內在價值約是：
RM 5億9百萬，平均每股RM 0.495。

欲進步交流，[email=可致ckf130377@yahoo.com.hk]可致ckf130377@yahoo.com.hk[/email]

to 黑俠

(11/4/2008)

Agneslee

因有听闻，所以本人最近在留意这股了，
但本人是外行人，总的来讲这股可以投资吗？
楼主是股票经纪吗？

郭大侠

"但是，若深層分析KINSTEL，就會發現實際內在價值更低。根據報表顯示，７年來KINSTEL取得
23倍的盈利增長，但實際上卻是虧損183％。"

请问前辈是如何计算出这点 ？ 明明是23倍的盈利增長， 又和来183％ 亏損呢 ？希望您能和大家分享 figures and calculation method.

thomas2

原帖由 tmsloh 于 16-4-2008 03:35 PM 发表
是怎么回事,是开始套利了吗?

很有可能，尤其是一些等很久及要退场观望的。。