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But if interested.. i would dig up info on that lumpy capex of 78.665 million.
Here is a snippet from RHB's report on Orna back on March 2007.
Ornasteel’s RM90m new cold rolling mill that produces high drawing quality CRC and thin gauge CRC (with thickness of between 0.17 and 0.3mm) will commence commercial production by April 2007, that is about two months ahead of our expectation. The production level of the mill is projected at 10,000mt per month initially and should gradually move up to full capacity of 15,000mt per month by end-2007.
That's where it went.
So how would one evaluate OrnaSteel then?
Me? I would look at the table again and see if I see I can evaluate OrnaSteel's management of its cash..
From 05 Q1 it started as a company with nett debts of over 100.328 million.
8 quarters later... company nett debt is now at 5.999 million.
Would you be impressed with it that it had finished a capex on a 90 mil new cod roll mill?
i sure would love a projection done just oin the RM90m new cold rolling mill . Otherwise its hard to comment. I aint no expert in steel maufacture, so if anyones got a projection on the investment its most welcomed before further comments.
i sure would love a projection done just oin the RM90m new cold rolling mill . Otherwise its hard to comment. I aint no expert in steel maufacture, so if anyones got a projection on the investment its most welcomed before further comments.
For a start, whats the ROI on the project?
My dearest, dearest Prop,
Kakaka... I hope this is not a discussion where I am trying to convince you on this stock, ok? (hope u understand this point)
Anyway, you asked me where the money went. And from the cash flow statement stated on its Q4, some 78.665 million was spend on property and plant. And when i check on my old notes and reports, RHB was the one that mentioned Orna has a new 90 million CR plant ready to be in production in April.
So.. i really do not have the info on the ROI of this project.
No, You did not convince me to buy. But if theres a good reason to reinvest the Cash, then seems the managemnet is trying make more returns on shreholders cash, which in itself is good.
Now, the question is the rate of return....how much?
No, You did not convince me to buy. But if theres a good reason to reinvest the Cash, then seems the managemnet is trying make more returns on shreholders cash, which in itself is good.
Now, the question is the rate of return....how much?
My dearest, dearest, dearest Propie,
Hmmm... yikes! I have NOT convince you to buy... err.... what on earth have i been doing all this time?? Was my head corrupted by some unusual tauntings? :s35:
However, rest assured... i shall.... improve... :s37:
With that... i guess i have to say... i be back.... :s49: :s49: :s49:
