【MASTEEL 5098 交流专区】大马钢厂

icy97

馬鋼廠稽查報告完成

2015-06-18 10:17      
（吉隆坡17日訊）馬來西亞鋼廠（MASTEEL，5098，主板工業產品組）宣佈認同特別稽查公司UHY FLVS公司的報告，並將聯繫外部稽查師以公佈截至2014年杪的已稽查報告。

馬來西亞鋼廠發文告表示，外部稽查師Nexia對其賬目提出質疑，包括一家跨國商品貿易商的款項被歸類為交易保證金，關注該貿易商繼續提供預付款項。

Nexia也認為其賬目可能錯誤呈報，能否收回應收賬項余額已成疑問。

不過，UHY公司的特別稽查報告則發現，有關跨國商品貿易商的預先付款已正確入賬為交易保證金，並確定已在2014年12月31日全面支付和解決。

該公司稽查委員會和董事部認同UHY的報告，目前正和Nexia聯繫以發佈截至2014年杪的已稽查報告。（星洲日報／財經）

Type	Announcement
Subject	OTHERS
Description	MALAYSIA STEEL WORKS (KL) BHD (MASTEEL or "THE COMPANY") - COMPLETION OF SPECIAL AUDIT REPORT BY UHY FLVS SDN BHD ("UHY")
Further to the Company’s announcement made on 15 June 2015, the Board of Directors of the Company wishes to announce the following additional information to Bursa Malaysia Securities Berhad for public release:-                                       1. The Company’s external auditors, Messrs Nexia SSY (“Nexia”), had raised concerns in respect of the following: (a) Classification: The treatment/ classification of an amount due to a multinational commodity trader as at 31 December 2014 wherein the Company has treated/ classified the amount due as trade deposits. Nexia had concerns that this was a financing arrangement as the said multinational commodity trader continues to make advance whilst not accepting deliveries of their orders, causing the trade to be cancelled and triggering repayment of the earlier deposit. (b) Validity and Recoverability: In the course of its audit verification of trade receivables, and based on information extracted from the records of the Companies Commission of Malaysia (“CCM”) by way of a company search conducted with the CCM on selected trade debtors for the purposes of ascertaining the financial position of these trade debtors, Nexia had doubts on the area of payables and purchases as the relevant accounts receivable records contained a number of credit entries and other adjustments which were explained to Nexia’s engagement team as cross-purchases of steel products by the Company from the said trade debtors. Nexia was also of the view that there appeared the possibility of specific misstatements in the financial statements and that the recoverability of the balances from the said trade debtors was put into question. 2. UHY’s findings on the areas of concern aforesaid are as follows: (a) Classification: UHY was satisfied that the advance payments received from the aforesaid multinational commodity trader had been correctly accounted for by the Company as trade deposits in accordance with the Malaysian Financial Reporting Standards. (b) Validity and Recoverability: UHY was satisfied that the transactions with the trade debtors under review are properly supported evidentially. UHY has also ascertained with reference to events post 31 December 2014 that the amounts due from the trade debtors under review have been fully repaid and/or settled in accordance with the agreed trade credit terms. 3. Having reviewed the Special Audit Report by UHY, the Audit Committee and the Board of Directors are in agreement with UHY’s findings therein. 4.Arising from the findings, the Company is presently liaising with Nexia on the release of its Audited Financial Statements for the year ended 31 December 2014 and the announcement thereof in due course. This announcement is dated 17 June 2015.

icy97

马钢铁厂財报　外部稽查师保留意见

财经  2015年06月22日
（吉隆坡22日讯）马钢铁厂（MASTEEL，5098，主板工业股）公佈，儘管获得UHYFLVS会计行的特別稽查报告支持，但其外部稽查师Nexia SSY仍然决定，在该公司的2014財政年（去年12月31日结账）经审查財报提出保留意见。

马钢铁厂上週五（19日）同时公佈，2014財政年经审查財报以及Nexia SSY的保留意见报告。Nexia SSY提出了2个关注点。第一，该会计行无法確认马钢铁厂与特定客户的销售交易记录的真实性，总值2亿8717万令吉。此外，Nexia SSY也关注其与该些客户的採购和对反交易。无法確认总值3亿3454万令吉应收账项可收回与否。

第二，Nexia SSY无法查明马钢铁厂与一家海外贸易公司的销售交易安排。马钢铁厂以一个事前决定的价格，向对方定期供应钢铁產品，而该海外贸易公司则同意预先缴付款项。不过，在2014年，该海外贸易公司没有下任何订单，总预付金达2500万美元，其中含133万美元（435万令吉）的销售取消费用，並在2014年杪时剩下2858万美元（1亿零108万令吉），订单延续至2015年。

Nexia SSY表示，除了上述2项疑点，马钢铁厂的2014年经审查財报真实並合理地其財务状况。

马钢铁厂在上週三（17日）已公佈了UHYFLVS会计行针对Nexia SSY提出疑点的特別稽查报告。针对第一项疑点提及的与特定客户的销售交易，UHYFLVS对相关支持证据感到满意，並確认相关欠款者已在去年12月31日后，还清其佘下的账款。

针对第二项疑点，UHYFLVS认为，该海外贸易公司的预付款正確地被记入账目，並对这点感到满意。【东方网财经】

Type	Announcement
Subject	OTHERS
Description	MALAYSIA STEEL WORKS (KL) BHD (MASTEEL or "THE COMPANY")- QUALIFIED OPINION ON THE AUDITED FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2014 (AFS 2014)
Pursuant to Paragraph 9.19(37) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”) and further to the submission of the Company’s AFS 2014 to Bursa Securities on 19 June 2015, the Board of Directors of MASTEEL wishes to announce that Messrs Nexia SSY, the Company’s External Auditors (“Nexia”), had expressed a qualified opinion in the Company’s AFS 2014. A copy of Nexia’s report is attached herewith. This announcement is dated 19 June 2015.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4778677

Attachments Nexia Report.pdf

Subject

Annual Audited Accounts - 31 Dec 2014

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4778673

Attachments Masteel - Annual Audited Accounts - 31.12.2014.pdf

icy97

首季业绩出炉　马钢铁厂净亏1071万

财经  2015年07月02日
（吉隆坡2日讯）马钢铁厂（MASTEEL，5098，主板工业股）今天终於公佈本应于5月出炉的2015財政年首季业绩（截至3月31日止），面对1071万令吉净亏损，2014財政年同期获得728万令吉净利。

同时，马钢铁厂的2015財政年首季营业额从去年同期的3亿3768万令吉下跌3.64%，至3亿2540万令吉。该公司在季度报告中指出，首季营业额按年减少的原因是钢铁售价和销量均下跌，而面对亏损的关键因素是赚幅下跌。

另外，该公司宣佈，邓昌佑（译音）受委为独立非执行董事。

马钢铁厂之前在4月27日宣佈，外部审计师须要更多资讯而无法按时呈交2014財政年经审核財务报告。该公司之后委任另一家外部审计公司审核账目，及要求展延財报，但被大马交易所拒绝。

马钢铁厂的审计公司NexiaSSY是对该公司的2014財政年（去年12月31日结账）经审查財报里的部份交易和应收账项提出质疑，而该公司委任的另一家外部审计公司UHYFLVS力挺其账目没有问题，但NexiaSSY依然对账目有所保留。

由於马钢铁厂之前无法呈交季度財务报告，因而股票从6月12日起停牌，最后掛价是0.62令吉。【东方网财经】

SUMMARY OF KEY FINANCIAL INFORMATION 31 Mar 2015

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Mar 2015	31 Mar 2014	31 Mar 2015	31 Mar 2014
		$$'000	$$'000	$$'000	$$'000

1	Revenue	325,397	337,678	325,397	337,678
2	Profit/(loss) before tax	-9,900	7,666	-9,900	22,218
3	Profit/(loss) for the period	-10,709	7,280	-10,709	21,832
4	Profit/(loss) attributable to ordinary equity holders of the parent	-10,709	7,280	-10,709	21,832
5	Basic earnings/(loss) per share (Subunit)	-4.53	3.29	-4.53	3.29
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	2.3600		2.4400

icy97

財經股市2 Jul 2015 20:58
http://www.chinapress.com.my/node/634807

（吉隆坡2日訊）馬鋼鐵與統一合作社（KUB，6874，主要板貿服）簽署諒解備忘錄，整合旗下聯營公司Metropolitan Commuter Network私人有限公司的資源，以獲取依斯干達發展特區的火車網絡工程。雙方將聯合向政府提出工程建議。

馬鋼鐵管理層指將與相關單位，包括政府監關機構保持合作。

至于統一合作社有意結束雙方在2001年簽署的諒解備忘錄，因公司投資委員會認為需在適當的時候進行評估。

Type	Announcement
Subject	OTHERS
Description	MALAYSIA STEEL WORKS (KL) BHD ("Masteel" or "the Company") - Update on the Joint-Venture Agreement entered between Masteel and KUB Malaysia Berhad
We refer to the announcement made on 19 January 2011, wherein Masteel announced that the Company had entered into a Head of Joint Venture Agreement (“MOU”) with KUB Malaysia Berhad (Company No. 6022-D) (“KUB”), a company listed on the Main Market of Bursa Malaysia Securities Berhad whereby KUB and Masteel (“Parties”) have agreed to combine their capabilities and resources to co-operate and collaborate with each other in the joint-venture company, Metropolitan Commuter Network Sdn Bhd to pursue the rail transit network project in the Iskandar Development Region (“Project”) and the Parties are desirous of submitting a joint proposal for the Project to the Government of Malaysia. Pursuant to Bursa Malaysia Securities Berhad's letter dated 4 August 2006, we wish to announce the status of the MOU as follows:- The Management continues to work with the relevant parties including government authorities pertaining to the proposed Iskandar Malaysia Commuter rail project. Meanwhile, its Joint-Venture Partner, KUB had announced its intention to consummate the MOU signed in 2011 subject to its Investment Committee's review in due course.

icy97

Type	Announcement
Subject	OTHERS
Description	MALAYSIA STEEL WORKS (KL) BHD ("MASTEEL" or "the Company") - Proposed Final Single Tier Dividend
The Board of Directors of MASTEEL is pleased to announce that a final single tier dividend of 1.3 percent per ordinary share of RM0.50 each ("Proposed Final Dividend") has been proposed in respect of the Company's financial year ended 31 December 2014. The Proposed Final Dividend will be subject to the shareholders' approval at the forthcoming Forty-Third Annual General Meeting of MASTEEL. A further announcement on the dates of entitlement and payment of the Proposed Final Dividend will be made at a later date.

icy97

利空籠罩‧次季恐再虧‧馬鋼廠3年財測大砍

2015-07-03 17:01      
（吉隆坡3日訊）馬來西亞鋼廠（MASTEEL,5098,主板工業產品組）首季蒙受虧損，在預計營業額下滑，加上鋼鐵價格低迷和營運成本走高的利空，分析員預測次季可能再蒙虧，大砍該公司2015至2017年財測。

馬來西亞鋼廠因390萬令吉的外匯虧損，導致2015年首季蒙受680萬令吉虧損，比較前期是淨利720萬令吉；首季營業額也分別按季和按年下跌17%和3.6%，主要受鋼鐵價格大跌衝擊。

該公司營業水平也面對小虧，顯示鋼鐵領域營業環境的艱巨。

大眾研究下砍該公司2015至2017財政年的淨利預測，下調50%至65%，分別為890萬令吉、1千110萬令吉和1千470萬令吉，這預測顯示該公司從2013至2017年的5年，平均淨利下跌14.1%。

鋼鐵價格從每公噸542美元（約2千零37令吉）下滑24%至410美元（約1千541令吉），以致該公司首季營業額下滑至3億2千540萬令吉。

大眾表示，該公司面對馬幣疲弱、廉宜的進口鋼鐵競爭及7月1日調升10%天然氣衝擊，上述的原因都導致其賺幅進一步削弱。

大眾預測在低鋼鐵價和高成本衝擊下，該公司在第二季可能進一步蒙受虧損。

不過，政府已經出手保護鋼鐵，在6月11日起，對部份進口的中國鋼鐵徵收5%的進口稅，有助於該公司減緩價格競爭的壓力。

此外，該公司今年持續擴產下游業務，產能每年提高至50萬公噸。

9日復牌下月股東大會料通過派息1.3仙

大眾預計該公司股票在7月9日復牌，8月3日舉行股東大會，以通過每股1.3仙的股息。

大眾將馬來西亞鋼廠評級則從“超越大市”調至“中和”，目標價為54仙。（星洲日報／財經‧報道：謝汪潮）

icy97

月底啟用新廠 馬鋼鐵今復牌交易

財經股市9 Jul 2015 20:53
（吉隆坡9日訊）馬鋼鐵（MASTEEL，5098，主要板工業）將如期于7月底啟用新建的20萬公噸年產能滾製廠，同時已呈交2014財年經審核賬目，會在周五（10日）恢復交易。

該公司董事經理兼總執行長拿督戴賢龍發布文告稱，新工廠在全面生產后，將提高下游鋼筋年產能至65萬公噸，可配合上游鋼坯達70萬公噸產能。再加上新產品類別，擴展后產能全面生產將額外貢獻營業額3億6000萬令吉。

“新廠可讓我們將至少90%上遊鋼坯產能轉為生產更高附加價值鋼條，對比目前產能為60%。”

這有助該公司在國內建築領域，攝取更多鋼條需求，並可加強業務持續性，改善未來財務表現。

馬鋼鐵也希望監管單位可更嚴厲執法，抑制進口大量廉價鋼條，尤其是中國出現供應過剩而低價傾銷。

戴賢龍相信國內鋼條價格在更多產品類別下會有所改善。

長期而言，他認為國內建築活動強勁，將使鋼條需求持穩，該公司亦會從各發展工程中受惠。

另外，馬鋼鐵是在今年5月12日開始暫停交易，最后掛價為每股62仙。【中国报财经】

icy97

EX-date	06 Aug 2015
Entitlement date	10 Aug 2015
Entitlement time	05:00 PM
Entitlement subject	Final Dividend
Entitlement description	Final single-tier dividend of 1.3 percent per ordinary share of RM0.50 each in respect of the financial year ended 31 December 2014
Period of interest payment	to
Financial Year End	31 Dec 2014
Share transfer book & register of members will be	to   closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no	Tricor Investor Services Sdn BhdLevel 17,The Gardens North Tower,Mid Valley City,Lingkaran Syed Putra,59200 Kuala LumpurTel : 03-2264 3883Fax : 03-2282 1886
Payment date	28 Aug 2015
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	10 Aug 2015
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)
Entitlement indicator	Percentage
Entitlement in Percentage (%)	1.3000
Par Value	Malaysian Ringgit (MYR) 0.500

icy97

復牌遭遇卖压　马钢铁厂创7年新低

财经  2015年07月10日
（吉隆坡10日讯）已呈交2014財政年已审核业绩、2014年年报和2015年首季业绩的马钢铁厂（MASTEEL，5098，主板工业股）今天「解禁」恢復交易，即被市场大幅拋售，全天下挫9仙或14.52%，至0.53令吉，是第16大下跌股。

马钢铁厂早前因无法按时呈交財务报告，而从5月12日起被停牌，隨著该公司本月2日和昨天补交相关財报及在今天復牌，其股价在沉重卖压下一度急跌12仙或19.35%，至0.50令吉，创下2008年10月28日以来的盘中新低纪录。

马钢铁厂终场报0.53令吉，全天共跌9仙或14.52%，成交量是1111万1400股，是第29大热门股。

根据该公司本月2日公佈的2015財政年首季业绩（截至3月31日止），其营业额按年下跌3.64%，至3亿2540万令吉，同时，面对1071万令吉净亏损，2014財政年同期获得728万令吉净利。【东方网财经】

icy97

小股东大权利：大马钢厂展延股东大会

财经周刊 投资观点 小股东大权利  2015-08-03 14:37
大马钢厂（MASTEEL，5098，主板工业产品股）因为账目出现问题，无法在4月30日的限期顺利呈交经审计账目，导致公司在5月11日被令停牌。

这一停，就停到了7月10日，而原本在6月前要举行的股东大会，也迟至8月才能召开。

停牌事件不只打击了投资者信心，也导致许多股东无法进行交易，首当其冲的就是公司即将在2015年10月到期的凭单。

公司停牌前的股价约在85仙，以凭单转换价67仙，凭单尚有18仙的合理价格。

凭单预告“死刑”

没料到一场账目和停牌风波，股价大跌至45仙，凭单的价值也完全蒸发掉，以时限还剩下三个月不到，应该是可以预告凭单“死刑”了。这证明了凭单在牛市和熊市的强烈对照。

但是，查看公司的审计报告和最新的3月季度报告，我们发现，之前审计师置疑的3.34亿令吉应收款项，已经减少到1.68亿令吉。

只是，我们不了解到底是收到1.66亿令吉现金付款，或者原料产品退回，因为巧合的是，其三月底的库存（STOCK）从1.65亿令吉增加到3.35亿令吉，多了1.7亿令吉的库存。我们比较过去4个季度（从2014年3月起）的库存，从没见过如此大的增幅。

至于和外国交易公司的1亿令吉订金，则没见到公司有什么有力的交待。

奇怪的是，公司收了如此多订金，现金账目上却只见千多万令吉，如果对方一下子要取消合约，拿回订金，那么公司岂不面对现金周转的问题？

若及时纠正疑点可挽信心

如果大马钢厂能快速把审计师所置疑的疑点纠正过来，不失为赢回股东和投资者信心的策略，因为观察其财务报表，如果没有灌水的话，其实还很稳健，难怪审计师会点出其怀疑的地方。

而且，经过这次的重新审计，公司也没打算大事修改其财务报告，看来管理层对解决疑窦的信心还蛮大的。

股东大会来临，股东除了照样获得之前建议的1.3%（0.65仙）股息，账目上改变不大，净资产仍然在2.36令吉，算是虚惊一场。

至于凭单持有人，很抱歉，倾巢之下，焉有完卵？要投诉的应该先买了母股，在股东大会出席时道出不满之处。

万年船

【南洋网蔡京】

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 30 Jun 2015

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Jun 2015	30 Jun 2014	30 Jun 2015	30 Jun 2014
		$$'000	$$'000	$$'000	$$'000

1	Revenue	242,196	359,987	567,593	697,666
2	Profit/(loss) before tax	-12,491	10,789	-22,392	18,456
3	Profit/(loss) for the period	-14,159	10,100	-24,869	17,381
4	Profit/(loss) attributable to ordinary equity holders of the parent	-14,159	10,100	-24,869	17,381
5	Basic earnings/(loss) per share (Subunit)	-5.94	4.56	-10.43	7.85
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	2.2800		2.4400

icy97

Expiry/Maturity of the securities

MALAYSIA STEEL WORKS (KL) BHD

Instrument Category	Securities of PLC
Instrument Type	Warrants
Type Of Expiry	Expiry/Maturity of the securities
Mode of Satisfaction of Exercise/Conversion price	Cash
Exercise/ Strike/ Conversion Price	Malaysian Ringgit (MYR) 0.6700
Exercise/ Conversion Ratio	1:1
Settlement Type / Convertible into	Physical (Shares)
Last Date & Time of Trading	07 Oct 2015 05:00 PM
Date & Time of Suspension	08 Oct 2015 09:00 AM
Last Date & Time for Transfer into Depositor's CDS a/c	19 Oct 2015 04:00 PM
Date & Time of Expiry	26 Oct 2015 05:00 PM
Date & Time for Delisting	27 Oct 2015 09:00 AM

Please refer attachment below.

Attachments Masteel - Advertisement on Notice of Warrantholders.pdf

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4874365

---

Announcement Info

Company Name	MALAYSIA STEEL WORKS (KL) BHD
Stock Name	MASTEEL-WA
Date Announced	22 Sep 2015
Category	Expiry/Maturity/Termination of Securities
Reference Number	EOS-22092015-00001

icy97

Date of change	30 Sep 2015
Name	MR ONG TENG CHUN
Age	47
Nationality	Malaysia
Designation	Director
Directorate	Executive
Type of change	Appointment
Qualifications	Bachelor of Business majoring in Banking and Finance from Curtin University, Western Australia
Working experience and occupation	He has 24 years of working experience in Finance Division.In year 1998, he joined Malaysia Steel Works (KL) Bhd ("Masteel") as an Assistant Finance Manager and was subsequently promoted to Senior Vice President in 2010. His principal duties include managing the financial, treasury and risk management of Masteel. Recently, he was also entasked to spearhead the marketing division of steel bars.Prior to joining Masteel, he worked in Malaysian International Merchant Bankers Bhd, where he was actively engaged in various syndicated fund raising exercises and structuring of project loan facilities.

Date of change	30 Sep 2015
Name	MR LEE KEAN BINH
Age	59
Nationality	Malaysia
Designation	Director
Directorate	Executive
Type of change	Resignation
Reason	Mr Lee Kean Binh has reached the mandatory retirement age in the Company and has opted not to renew his contract of employment. Consequent thereto, he resigned as Executive Director of the Company.

icy97

大马钢厂 新产能赚幅高

财经 股市 行家论股  2015-11-03 12:00

目标价：40仙

最新进展
大马钢厂（MASTEEL，5098，主板工业产品股）在雪州巴生的新轧钢厂，上月开始运作，预计可贡献末季业绩。

同时，本地钢铁领域正推动实施更严谨的举措，对抗外国特别是中国，大量倾销廉价钢铁至本地所带来的竞争。

行家建议
新厂产能达15万公吨，将可提高总产能至60万公吨，未来还有望继续拓展10万公吨。

同时，新厂主要生产小直径高级钢条Y10、Y12和Y16，这类产品有更高的赚幅，预计可大大贡献末季业绩表现，并激励明后两财年销售10至17%。

基于激烈的市场竞争，我们预计截至9月的第三季，将会继续蒙亏，因平均钢价处每公吨353美元，按年少28%。

据了解，中国进口钢铁和本地钢铁的价格，相差约100令吉。

目前，大马钢厂近半的营收，是来自零售商，另有20%来自捷运相关工程，并出口10%的产品，因此可从中赚取一些外汇收益。



【南洋网财经】

icy97

轧钢厂启用年收2亿 大马钢厂有望明年转盈

财经新闻 财经  2015-11-29 11:07
（吉隆坡28日讯）大马钢厂（MASTEEL，5098，主板工业产品股）冀望借助即将投产的轧钢厂，可每年捎来高达2亿令吉的收入，有望在明年转亏为盈。

根据文告，公司已在今年10月启动位于雪州武吉拉惹的轧钢厂，放眼在明年生产15万公吨的钢条，加上八打灵再也厂房现有的45万公吨产量，估计明年的总产量高达60万公吨。

另一方面，大马钢厂在截至9月30日第三季，净亏按年扩大，至2413万9000令吉，较去年同期的609万8000高，归咎于外汇亏损1870万令吉。

营业额则按年下挫16.75%，从3亿6209万9000令吉跌至3亿143万8000令吉。

若排除外汇亏损，第三季核心税前亏损收窄至380万令吉；相较于次季的1000万令吉，缩小620万令吉。

营运成本看跌

累积首9个月，该公司净亏4900万9000令吉；营业额则按年跌幅18%，至8亿6903万1000令吉。

董事经理拿督斯里戴贤龙指出，第三季因外汇波动和竞争而备受挑战，但可见情况好转，因令吉开始回弹，反映出我国强稳的经济基础。

“第三季开始见到营业额复苏的步伐，并乐观看待投运的新厂房，将达到更好的规模经济，提升竞争力和贡献盈利。”

他估计，其他区域国家如中国、日本和韩国的废金属供应将会走高。

鉴于废金属的供过于求，价格恐会受压，促使公司的长运营运的生产成本会走低。

大型基建推高钢条销量

展望未来，戴贤龙乐观看待钢条具韧力的销售，需求会受到陆续推出的大型基建项目提振。

再者，随着政府批准向所有碳钢棒和钢线材征收5%进口税，有助缓冲中国廉价钢铁倾销至我国的削价战。

由于无法如期呈交财报，大马钢厂在今年5月12日暂停交易，直到7月10日才恢复交易。

针对和大马统一合作（KUB，6874，主板贸服股）联营柔佛依斯干达的城际轨道交通系统计划进展，双方已会见大马火车资产机构（Perbadanan Aset Keretapi）的高级管理层。

根据文告，公司已呈交甘拔士（Kempas）土地的城市规划方案，建议作为捷运站和交通部规定的其他资产。【南洋网财经】

SUMMARY OF KEY FINANCIAL INFORMATION 30 Sep 2015

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Sep 2015	30 Sep 2014	30 Sep 2015	30 Sep 2014
		$$'000	$$'000	$$'000	$$'000

1	Revenue	301,438	362,099	869,031	1,059,764
2	Profit/(loss) before tax	-22,449	3,467	-44,842	21,922
3	Profit/(loss) for the period	-24,139	-6,098	-49,009	11,282
4	Profit/(loss) attributable to ordinary equity holders of the parent	-24,139	-6,098	-49,009	11,282
5	Basic earnings/(loss) per share (Subunit)	-10.04	-2.73	-20.38	5.06
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	2.1700		2.4400

icy97

Type	Announcement
Subject	OTHERS
Description	MALAYSIA STEEL WORKS (KL) BHD ("Masteel" or "the Company") - Update on the Joint-Venture Agreement entered between Masteel and KUB Malaysia Berhad
We refer to the announcement made on 19 January 2011, wherein Masteel announced that the Company had entered into a Head of Joint Venture Agreement (“MOU”) with KUB Malaysia Berhad (Company No. 6022-D) (“KUB”), a company listed on the Main Market of Bursa Malaysia Securities Berhad whereby KUB and Masteel have agreed to combine their capabilities and resources to co-operate and collaborate with each other in the joint-venture company, Metropolitan Commuter Network Sdn Bhd to pursue the rail transit network project in the Iskandar Development Region ("Parties") and the Parties are desirous of submitting a joint proposal for the Project to the Government of Malaysia. Pursuant to Bursa Malaysia Securities Berhad's letter dated 4 August 2006, we wish to announce the status of the MOU that the Company has recently met Perbadanan  Aset Keretapi's senior management to present the Company's town planning scheme for kempas land that is earmarked for the construction of the Company's proposed commuter train depot and other assets as required by the Ministry of Transport.

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31 Dec 2015

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Dec 2015	31 Dec 2014	31 Dec 2015	31 Dec 2014
		$$'000	$$'000	$$'000	$$'000

1	Revenue	274,664	392,169	1,143,694	1,456,279
2	Profit/(loss) before tax	-2,131	6,186	-46,975	28,084
3	Profit/(loss) for the period	-1,976	4,515	-50,986	15,828
4	Profit/(loss) attributable to ordinary equity holders of the parent	-1,976	4,515	-50,986	15,828
5	Basic earnings/(loss) per share (Subunit)	-0.82	1.99	-21.05	6.99
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.65
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	2.1700		2.4400

kongsenger

5098 masteel 大马钢厂 Rm0.56 買入--
a)拉惹山（Bukit Raja）的熔化廠預計未來每年將帶來2億令吉的額外營業額貢獻，
為此該公司放眼2016年轉虧為盈。股价可升到rm0.80
b)钢铁价格将回至正常每吨rm1800,现在为每吨rm1500.
c)建議依斯干達建鐵路.馬鋼鐵指出，近期已向地鐵資產機構（RAC）高級管理層提呈
在柔佛新山甘拔士（Kempas）一塊土地進行城鎮發展計劃，依據交通部要求建議興建一個鐵路終站和其他資產。


http://www.malaysiastock.biz/Cor ... p;securityCode=5098

http://www.masteel.com.my/

http://klse.i3investor.com/servlets/stk/5098.jsp


http://www.klsescreener.com/v2/stocks/view/5098

kongsenger

(VGI) Masteel - Returning to profitability in 2016, +33% increase in capacity just in time for MRT2
Author: ValueGrowthInvestor   |   Publish date: Tue, 22 Mar 2016, 04:25 AM
http://klse.i3investor.com/blogs/ValueGrowthInvesting/93436.jsp

As I have repeated a few times before, in order to beat the market, we have to think ahead and differently from everyone else.

At the beginning of the year, who would have thought that airline stocks like AirAsia, AAX or MAHB would be among the best performing in 2016? Most people wrote off these stocks which fell into a bottomless pit last year but how wrong were they now in hingsight?

I believe there are 2 main causes for poor investment judgement:

a) People follow a herd mentality: When something is out of fasion, people avoid it at all cost and when something is in fashion, they rush in usually at the end of the cycle.

b) People are either too lazy or unable to perform research or lack the foresight to determine positive changes in industries.

Today, I will be talking about Masteel. Yes, the steel industry has been one of the worst performing industries in 2014-2015 but could the industry be staging a massive rebound? I have high conviction that the answer is YES. Similar to aviation, this is one of the sectors that will perform well in 2016 and is just in the beginning stages.

Masteel is involved in the downstream segment of the steel industry producing steel bars for the construction sector. Steel bars are used in every facet of construction, from the reinforcement of concrete pillars, slabs, structures, tunnel lining to the foundation for buildings, roads and railroads. Masteel is vertically integrated, meaning it produces its own raw materials (steel billets) through the processing of scrap metal which is increasing in supply from countries like China, Japan and Korea making it cheaper to procure.

Now, let us have a look at the catalysts for this imminent rebound:

1) 4Q15 net loss narrowed to just RM2mil with management confident of turning a profit in 2016. For the past 5 years, revenue and net profit has been growing but dropped in 2014-2015 due to low steel bar prices due to concerns on China's growth. Removing foreign exchange gains/losses in 2015, the loss was only RM23.6m.

2) Steel bar prices are staging a very aggressive rebound after overblown fears of a China slowdown is abating now that China's policy makers have signalled stable, more sustainable growth. Moreover, demand for housing in China is on the rise indicated by increasing property prices in major cities which rose to a 2-year high. This higher demand which translates into higher consumption of steel bars is positive for steel prices to continue its upward trend. At its current levels, it is already 10% higher than 2015's full year average.

3) Capacity expansion of 150k MT of steel bars (increase of 33%) from 450k MT to 600k MT starting Oct 2016 is just in time for the RM28bn MRT2. At present, MRT projects already account to 20% of Masteel's sales. In addition, according to Public Investment, the cost of the new factory in Bukit Raja was RM120m, similar to Masteel's current market cap at only RM135m. This is absurd, it means that at Masteel's current price and market capitalisation, investors are only paying slightly more for the cost of its brand new factory leaving everything else for FOC.

4) Imposition of 5% import duty on cheaper available imported steel bars with potential for an additional 35% duty on imported steel bars. If implemented, it would be a game changer, making all imported steel bars uncompetitive and increasing demand for Masteel's steel bars. To help ensure the duties are effective, the government has a high level of surveillance and enforcement with raids conducted on steel importes to ensure the duty is paid.

An excerpt from their press release:

"Meanwhile, the Group is collaborating closely with the relevant regulatory bodies to ensure enforcement of the recently announced 5% import duty for steel bars (HS 7214), through swift identification and reporting of errant importers. This is expected to curb the rampant imports of substandard steel bars from China.

Additionally, the Construction Industry Development Board (CIDB) Act (Service of Notice) Regulations 2015, which was announced in June 2015, is anticipated to be enforced with effect from January 2016. The CIDB Act targets errant users of non-Malaysian Standard MS 146 steel bars, with each offence to be fined a minimum of RM50,000"

5) Masteel is currently trading at only 0.25x Price-to-book ratio. This is partly due to the delay in submission of audited accounts last year which led to a suspension. I believe this is a one-off event and not likely to be repeated thus creating an unfairly low and underinflated share price creating a buying opportunity. At minimum, Masteel should be priced at 0.4x price-to-book ratio, similar to its past 5-year average where MRT1 was rolled out. That would bring a fair valuation of RM0.88 (upside of 60%). This would also bring its share price back to level before the late submission of accounts in April 2015.

Excerpt from management from a newspaper article:

"On the accounting hiccup it experienced earlier this year, Tai said UHY FLVS Sdn Bhd had conducted an independent and comprehensive review of the issues raised by its previous auditor Nexia SSY and that the board of directors had agreed to the positive findings of the UHY report.

“That was in the past. We think the present and future is more important and our focus is to bring the company forward,” he said."
http://www.barchart.com/chart.ph ... hnical&template

icy97

Date of change	12 Apr 2016
Name	MR LAU YOKE LEONG
Age	47
Nationality	Malaysia
Type of change	Appointment
Designation	Chief Financial Officer
Qualifications	The Association of Chartered Certified Accountants (ACCA)- Associate membership (ACCA) obtained in July 1998- Fellow membership (FCCA) obtained in July 2003Malaysian Institute of Accountants (MIA)- Public Accountant membership (PA) obtained in July 1999- Chartered Accountant membership (CA) obtained in June 2001
Working experience and occupation	Mr Lau has more than 13 years of experience in various fields of accounting, audit, taxation and management matters as well as in-house training instructor on updating of accounting standards and audit software program, corporate restructuring, corporate exercise and due diligence assignments.