【MASTEEL 5098 交流专区】大马钢厂

elvingan

MASTEEL 5098




大股东:
Soon Seng Company Sdn Bhd
Lembaga Tabung Haji

受钢铁价调升,高成长兼盈利破新高!!!
股东们最近几个月积极买入公司股票,一致且大力看好公司前景...
2007年财政年本利比谨 5 倍....

欢迎佳礼各位大大,多多意见与看法...谢谢

[ 本帖最后由 elvingan 于 31-1-2008 11:59 PM 编辑 ]

elvingan

Malaysia Steel Works (KL) Bhd (Masteel) began its operations in 1971, producing commercial grade mild steel round bars at its rolling mill in Petaling Jaya, Selangor.

In 1989, the company embarked on an extensive upgrading programme, which saw the entire old mill being replaced with a modern semi-continuous mill utilizing the latest technology in DC drives and computerized control from Schloemann of Germany and Britain. The capacity of the mill improved to 120,000mt per year. This upgrade was in line with Masteel’s concept of offering high quality products to the Company’s valued customers.

In 1997, the mill was further upgraded to become a fully continuous mill together with the addition of a new reheating furnace that could utilize 1 ton billets. The capacity of the mill was further increased to 250,000MT per year and subsequently to 350,000MT per year in 2007.

In 1998, a new milestone in the history of Masteel was realized when its Meltshop in Bukit Raja went into commercial production. The billet production plant supplied by Danieli became one of the most modern meltshop in operation in the region with a capacity of 450,000 MT per year.

The Bukit Raja Factory produces billets which are the feed stock for rolling mill in Petaling Jaya. Both the manufacturing plants are equipped with modern equipment and are fully computerized to produce precision quality products from both the mills.

Masteel factories are located strategically at Petaling Jaya and Bukit Raja, Klang in the state of Selangor. With the meltshop located within the proximity of Port Klang, Masteel enjoys easy access for imports of steel scraps and export of billets. Its Petaling Jaya’s rolling mill is strategically located in the centre of Klang Valley where demand of steel is the strongest.

Masteel has maintained its technical edge over other steel manufacturers by selectively employing the best steel making technology through the years. The Company has spent RM90m for the past 2 years to improve its efficiency and reduce overall production costs by installing new equipment to enable it to operate on natural gas for both plants to reduce energy cost, installation of 4th strand continuous casting machine and Supersonic Lancing System (SLS).

With the new technology in place, Masteel will be able to capitalise on the anticipated upsurge for steel demand from the implementation of 5 year (2006-2010) 9th Malaysia Plan (9MP) which has an expenditure budget of RM200bn. Masteel is expected to benefit directly from the RM118bn which is earmarked for construction and infrastructure.

On the export market for Masteel products, the demand from the Asean region is expected to continue to experience strong growth. The market size for the Asean region for Masteel products is over 5 million metric tonnes per year. The export opportunities is further enhanced by the recent self imposed export curbs by the Chinese Government in the form of abolishment Vat rebate and the imposition of 15% export tax on semi-finished products such as billets since June 2007.

International steel prices continue to climb to historic high, being driven by the robust demand from China, India, Middle East and the CIS. Prices of iron ore are expected to improve by 30% as predicted by many commodity analysts such as Goldman Sachs JBWere in their recent reports. The strong increase in global steel prices will continue to firmly underscore the strong earnings growth for Masteel for the next few years.

Masteel has a superior track record in terms of profit margin implying its efficiency in production. As cost control remains vital especially to steel manufacturers, Masteel’s impressive track record and 17% average EBITDA margin recorded over the last 5 financial years has shown Masteel’s ability to weather the various steel cycles even during the sharp steel correction in 2005. The ability to adapt and take proactive steps to counter the negative effects shows that Masteel’s management is savvy and prudent.

Despite Masteel being in a capital intensive industry, Masteel is still able to maintain a low gearing ratio of 0.6x as at FY2006. The healthy balance sheet also ensures that
Masteel has the capability for future expansion. Masteel had also paid a reasonable dividend of 2.1 sen less tax for FY2006 which is about 40% higher than the previous financial year. Net assets per share for Masteel as at FY2006 is RM2.27 per share which also indicates that there is a potential upside for the share price or capital gains based on the current market share price.


[ 本帖最后由 elvingan 于 1-2-2008 12:03 AM 编辑 ]

elvingan

MASTEEL COMPLETES TECHNOLOGICAL UPGRADING PROGRAMME IN TIME TO MEET THE SURGE OF GLOBAL STEEL DEMAND

Petaling Jaya, 1 November 2007
– Malaysia Steel Works (KL) Bhd (Masteel) announced today that it has successfully completed its implementation of new technology at its meltshop in Bukit Raja, Klang, thereby increasing the plant’s current production capacity by 14% to 400,000 metric tonnes per annum.

According to Masteel’s Managing Director/ CEO Mr. Tai Hean Leng, the new technology implementation is part of a two and a half year RM90 million strategic programme to increase cost efficiency by utilising the best plant and process technology to produce quality steel products at the lowest production cost. The expenditure has been financed by both internally generated funds and borrowings.

“This planned increase in capacity augurs well with the present upswing in steel demand locally and the Southeast Asia region.
We expect to benefit from the strong steel demand growth in the next 12 to 24 months, fuelled by projects under the 9th Malaysia Plan and the increase of demand from ASEAN countries.” he said.

Masteel’s cost efficiency programme was first initiated in 2005.
It included an upgrade of machinery to switch to the use of lower cost liquefied natural gas (LNG) from previously higher cost fuel oil; in addition of the 4th continuous casting line dedicated to the production of smaller sized billets (which has a niche demand in the local and regional markets); and implementation of Supersonic Lancing System (SLS) technology to reduce electricity consumption and cost.
The completed exercise had successfully reduced the overall cost of production by 10% this year, and is expected to further increase production capacity up to 450,000 metric tonne per annum by 2008.
“With the new technology in place and increased capacity, Masteel will be able to capitalise on the anticipated upsurge for construction steel demand in Malaysia, especially from the implementation
of the 5 year 9th Malaysia Plan, which has an expenditure budget of RM200 billion,” said Tai.
“Masteel is expected to benefit directly from the RM118 billion earmarked for construction and infrastructure.” he added.

On the export front, the demand from the ASEAN region is expected to continue to grow.
The market size for the ASEAN region for Masteel products is over 5 million metric tonnes per year.
The export opportunity is further enhanced by the recent self-imposed export curbs by the Chinese Government in the form of abolishment of VAT (Value Added Tax) rebate and the imposition of 15% export tax on semi-finished products such as billets since June 2007.

International steel prices continue to climb to historic highs.
This is being driven by the robust demand from China, India and the Middle East.
Increasing international selling prices and strong local demand for steel products had pushed the Malaysian government to grant two adjustments to the local ceiling price of steel billet and bar by a 20% increase in April and a further 6.5% recently in June this year.

Masteel recorded a strong 118% year-on-year growth in net profit for the first half of its current financial year.
It reported a profit before tax of RM21.7 million on a revenue of RM256 million in the first six months ended 30 June 2007, against a net profit of RM10 million on a revenue of RM158 million in the corresponding period last year, representing a 62% increase in turnover with a more than doubled net profit.



About Masteel
Malaysia Steel Works (KL) Berhad or its stock name, Masteel, is listed on the Main Board of Bursa Malaysia Securities Berhad.
It is involved in the mid-stream manufacturing of steel billets and bars that are used primarily by downstream steel producers for making finished steel products and for direct use in construction applications.

Masteel is one of the top five integrated steel companies in Malaysia and currently commands a market share of about 10% of the industry.
It currently has a manufacturing capacity of 700,000 metric tonnes per annum (mtpa), consisting of a 400,000 mtpa meltshop producing billets and a 300,000 mtpa rolling mill producing bars.
It exports 30% to 40% of its products and has 68 domestic dealers and several international trading houses as partners in Singapore, Thailand, Vietnam and the Philippines.


[ 本帖最后由 elvingan 于 31-1-2008 11:57 PM 编辑 ]

elvingan

新加坡消息：

马来西亚钢铁公司(Masteel)在从意大利丹尼埃利公司(Danieli)购买技术之后，计划将产能提升10％，同时将生产成本削减5％。
　　 8月8日，公司签订了技术购买协议，合同金额为850万林吉特(约合230万美元)。公司计划将此技术应用在位于巴生省的武吉拉贾(Bukit Raja)厂，对其原油的电弧炉进行升级改造。该项技术能够提高能源利用率、降低时间消耗并且可以增加产能提升产品质量。
　　 公司首席执行官表示，此举和公司向国内外客户提供高质量钢铁产品的目标是一致的。

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调高钢铁零售价格上限 马来西亚钢铁业长期看好
2008-1-17 9:20:44     来源：网摘

在国际钢铁价格飙涨以及本地钢铁短缺的市场压力下，马来西亚政府近日再次核准调高国内的钢铁零售价格上限，经调整后钢坯的售价为1907~2035马元/吨，而钢筋的售价则为2225～2419马元/吨，涨幅约12%。     马来西亚市场分析师指出，该国钢铁业经历1997～1998年的亚洲区域金融风暴以来，虽已逐渐复苏，但建筑业连续几年仍呈萎缩趋势，影响钢铁业整体表现，2005年更一度陷入低潮，部分建筑公司甚至出现财务赤字。所幸到了2006年底，在政府宣布第九马来西亚计划、第三工业大蓝图及开放政策的护航下，钢铁业又重现一片生机。再加上国际市场的需求量维持强劲，如中国大陆与印度的钢铁消耗量预计在未来一年增长10%～15%；种种利好因素涌现，为马来西亚钢铁业带来乐观的前景。     马来西亚政府核准调高国内的钢铁零售价格上限，预计将打击建筑业与房产业，对钢铁制造商的影响却甚微，因为钢铁业者早已采取措施来弥补钢铁产品限制涨价的冲击，而政府目前的调价只是“拨乱反正”。东南亚国家每年约需进口500万吨钢坯，其中60%是从中国进口，随着中国增税限制出口，马来西亚钢铁业者正好趁此机会填补供应缺口。另一方面，马来西亚建筑工会则强烈抗议政府调高国内钢铁零售价格上限的措施，并呼吁该国政府开放钢铁市场，废除售价上限及管制进口的机制，以使钢铁价格按照市场的供求定律自由浮动。该工会同时疾呼政府应落实自动报价机制，以提升钢铁业者的效率与生产力，并暂缓出口钢坯与钢筋，以满足当地市场对钢铁产品的需求。据悉，马来西亚部份钢铁产品的进口税高达50%，一方面限制进口，另一方面却未禁止出口作为确保国内市场钢铁供应充足的临时措施，可见为解决问题，仍需尊重市场机制，才能帮助钢铁业解决问题及积极应对竞争。

[ 本帖最后由 elvingan 于 31-1-2008 11:35 PM 编辑 ]

elvingan

              马来西亚钢铁业长期看好  
    发表日期：2008-1-8  兰格钢铁  
    在国际钢铁价格飙涨以及本地钢铁短缺的市场压力下，马来西亚政府乃于2007年12月28日再次核准调高国内的钢铁零售价格上限，经调整后每公吨钢坯的售价为1907~2035马元，而每公吨钢筋的售价则为2225~2419马元，涨幅约12%。马来西亚政府曾于去年4月16日核准调高国内钢铁零售价格上限，当时涨幅约17~20%。

    马来西亚市场分析师指出，该国钢铁业经历1997及1998年的亚洲区域金融风暴以还，虽已逐渐复苏，然建筑业连续几年仍呈萎缩趋势，影响钢铁业整体表现，2005年更一度陷入低潮，部份建筑公司甚至出现财务赤字。所幸到了2006年底，在政府宣布第九马来西亚计画、第三工业大蓝图及开放政策的护航下，钢铁业又重现一片生机。再加上国际市场的需求量维持强劲，如中国大陆与印度的钢铁消耗量预料在未来一年增长10~15%；种种利多涌现，为马来西亚钢铁业带来乐观的前景。

    马来西亚政府核准调高国内的钢铁零售价格上限，预料将打击建筑业与房产业，对钢铁制造商的影响却甚微，主因为钢铁业者早已通过部份隐藏收费来弥补钢铁产品限制涨价的冲击，因此政府目前的调价只是“拨乱反正”。东南亚国家每年约需进口500万公吨钢坯，其中60%系从中国进口，随着中国增税限制出口，马来西亚钢铁业者正好利用此良机填补供应缺口。马来西亚钢铁业者去年第3季亮丽业绩，钢坯出口即为明证。

    另一方面，马来西亚建筑公会则强烈抗议政府调高国内钢铁零售价格上限的措施，并呼吁该国政府开放钢铁市场，废除售价上限及管制进口的机制，俾使钢铁价格按照市场的供求定律自由浮动。该公会同时疾呼政府应落实自动报价机制，以提升钢铁业者的效率与生产力，并暂缓出口钢坯与钢筋，以满足当地市场对钢铁产品的需求，据悉，马来西亚部份钢铁产品的进口税高达50%，一方面限制进口，另一方面却未禁止出口作为确保国内市场钢铁供应充足的临时措施，可见为解决问题，仍需尊重市场机制，始能协助钢铁业解决问题及积极应对竞争趋势。

elvingan

[东方日报] 国内财经
5大利好因素推動　前景續唱好　鋼鐵股晉超級週期

（吉隆坡21日訊）在5大利好因素推動下，大馬鋼鐵領域即將進入超級週期（Super Cycle），隨著鋼鐵生產設施逐漸完善，分析員更進一步把看法從「正面」轉到「非常牛市」，持續看漲鋼鐵的整體前景。

這5個有利因素為：中國減少出口鋼鐵產品、本地需求意外大增、鋼價加速升高、行業動力持續改善以及鋼鐵股估值偏低。

儘管龐大的鋼鐵出口市場正面對價格傾銷的問題，在邁入08年首日之際，中國當局調升特定鋼鐵產品的出口稅務，希望能夠減少使用能源，同時降低環境污染問題。

另外，由于過去中國提供75%的需求，鋼坯（Billet）徵收的25%出口稅務，可能會進一步拖延東盟區域的鋼坯短缺狀況。

因此，在大馬上市並擁有足夠產量的5家鋼鐵公司，將足以滿足市場需求空缺。所以，經過97年金融風暴，鋼鐵存貨過剩的蕭條時期后，分析員認為，本地業者或許將邁入「超級週期」。

第二個有利因素，則是本地需求。雖然市場對第九大馬計劃所帶起的建築領域復甦期望極低，因實際施行的效益，相信將與第八大馬計劃相似或更低，但是，過去數月的建築領域相關報導，以及首相宣佈的主要經濟走廊，明顯促進該領域的表現。另一方面，分析員相信，建築工程或因即將來臨的大選而大增，進一步推高鋼鐵需求。除了正面性發展，分析員認為，鋼鐵使用量將在未來2到3年，按年成長8.5%至10.6%。

鋼鐵公司整合或推高售價

由于市場沒有中國鋼鐵的泛濫式供應，而全球需求與供應的穩定，加上平均售價走高，將進一步提高鋼鐵業者的賺幅。

廢鋼的價格漲升，以及鐵礦現貨價格雙級跳，將煽動另一場原料價格上漲趨勢，因此，分析員預測，08年鐵礦合約將增加20到30%，而平均售價則進一步調升10%。

能源及運輸成本費用上調，推高生產成本，若進一步漲升，將增加消費者現在的負擔，因價格調整掌握在業者手上。

此外，市場上數家鋼鐵公司的整合，改變領域的命運，可能會推動售價走高。

基于建築商投訴本地鋼鐵條和鋼坯短缺，大馬政府在04年2月份宣佈了鋼鐵最高限額。

在0 7年，我國面對高達3次的鋼坯及鐵條漲價，分別是4月份漲20%、6月份每公噸增加150令吉，以及12月份調升12%。因此，政府考慮實行自調價格機制（Automatic PriceMechanism，簡稱APM），相信能夠解決上述圍繞市場一段時間的問題。分析員相信，這將促使市場獲得重新評級的機會。

此外，雖然市場充斥許多正面因素，鋼鐵股依然在08年的單位數本益比交易。因此，僑豐投資銀行分析員繼續給予「增持」的投資評級，並列金獅機構（LIONCOR，3581，主板工業股）為他們的首選，至于安裕資源（ANNJOO，6556，主板工業股）、南達鋼鐵（SSTEEL，5665，主板工業股）和馬鋼鐵廠（MASTEEL，5098，主板工業股），則給予「買進」的評級。

elvingan

多元化經營業務
馬鋼鐵轉戰生物藥劑
（吉隆坡2日訊）馬鋼鐵（MASTEEL，5098，主板工業）多元化旗下業務，與外資聯袂進軍國內生物藥劑市場，冀平衡週期性變化的鋼鐵收益。
該公司與比利時IBA Molecular公司，聯營成立IBA Molecular私人有限公司，並耗資4000萬令吉在雪蘭莪雪邦，設立放射性藥物生產與研究中心。

馬鋼鐵董事經理兼總執行長戴賢龍預計，將在2008首半年完成建設，並計劃11月投產，產品將供應至國內醫院和醫學影像中心。

他指出，這是公司首項鋼鐵業務以外的投資，冀生物藥劑業務的高成長潛能及高賺幅，能平衡鋼鐵業收益因週期性發展的不穩定。

洽談銷售計劃

“初步階段預計新業務貢獻不大，但我們看好生物藥劑前景。”

他透露，正和數家私人醫院洽談銷售計劃。

Bio Molecular為馬鋼鐵及IBA Molecular所擁有，各持90%及10%股權，為國內首家18F-脫氧葡萄糖（FDG）商業核醫藥物中心。

詢及未來是否有意再引進外資，戴賢龍回應說雙方合作愉快，日后將持續合作拓展業務，將版圖擴至海外

草下飞

他的ROE不算高，少过0.15。。。我应该不会考虑

InsiderInfo

MASTEEL 是一只严重被低估的钢铁股。

InsiderInfo

OSK Research said Malaysia Steel Works (KL) Bhd (Masteel) offered the best exposure to the smaller capitalised steel company backed by its stronger-than-expected performance. “In view of this, we upgraded our earning estimates between 9% and 12% for next two years. Hence our 12-month target price has been revised up to RM3.32,” said OSK Research, adding that its fair value was derived from a conservative 20% discount to 12 times steel sector PER on higher FY08 earning. Masteel posted a net profit of RM45.7 million for FY07, which was 12% above OSK Research’s estimates and 52.2% higher year-on-year. The research house expected the company to post net profit of RM50.6 million in FY08 and RM56.3 million in FY09. The research house said Masteel’s good FY07 results was due to higher export of billets driven by shortage within the Asean region following China’s move to discourage exports via higher export tax for billets. The company also benefited from better steel price. Cheaper raw material stocked earlier and higher selling price of end products has improved Masteel’s profit margin.

[ 本帖最后由 InsiderInfo 于 24-4-2008 09:07 AM 编辑 ]

johnny-chia

马钢铁 准上市英伦
（吉隆坡19日）马钢铁（MASTEEL，5098，主板工业）获伦敦金属交易所（LME）批准上市。 马钢铁在文告中指出，公司钢坯获伦敦金属交易所批准，以“马钢铁巴生”（Malaysia Steel Klang）品牌上市。 文告指出，该交易所对上市会员公司要求严谨，会员由钢铁生产商及交易商组成，上市后可运用交易的期货交易市场及递交机制。 另外，马钢铁也获FinanceAsia.com，选为大马最佳小型资本公司。 上述年度票选是在亚洲，由167名投资者及分析员选出。

kensai

哇，真的好股，
那楼主你举债来投资了没有？

钱在手

我也注意许久。。。不知几时发红股？？现在买进的价钱蛮底
可惜我的资金被套。。。

老散一名

原帖由 钱在手 于 23-6-2008 12:53 AM 发表
我也注意许久。。。不知几时发红股？？现在买进的价钱蛮底
可惜我的资金被套。。。

老散我要說一句：資金是不會被套的，只是自己被套而已。

钱在手

哈哈！因真的亏大。。。想卖却又过不了心里那关。。。

老散一名

那為何你會叫錢在手。

cocoloco

正在考虑买进但现在还不是时候。

johnny-chia

masteel 今天跌很够力下，无语

jimmylye

等0。73再看吧。如果跌破这个价格，那么就要等0。66咯。。。

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