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stockraider1 wrote: Dear Moolah & Kop,
I like to point out that your comment on Onasteel poor performance on stock investment may not be accurate bcos the investment is recorded based on 'mark to mkt price' in their books.
As for steel business I find Onasteel is excellent when u compare to Ajsteel,Hiap teck & Kinsteel which had risen drastically.
No doubt steel business is cyclical however if u decide to buy steel co then Onasteel is the best company u still can find now.
It wins hand down- in the strong balance sheet,good dividend,good earnings,good parent co.
My dearest Stockraider1,
The following screen shot is taken from Ornasteel quarterly earnings.
I can only interpret what I see.
marketable securities at cost is rm40.240 million,
at market value is rm40.474 million.
Would you consider as a decent performance given that the quarterly report Orna report was based on, the Bursa market was rather hot?
Dear Moolah,
U are just looking into the gain on stock price.If u look into other income there is more than Rm 2m.It is noted that a big chunk of the investment is a bond fund normally yield is 3.5% to 6% which slightly better than time deposits.
stockraider1 wrote: Dear Moolah,
U are just looking into the gain on stock price.If u look into other income there is more than Rm 2m.It is noted that a big chunk of the investment is a bond fund normally yield is 3.5% to 6% which slightly better than time deposits.
My Dearest Stockraider1,
I see.
However, my concern in this stock is the money in 'market securities'. Now as an investor, my preference is that I do not want to see companies doing such stuff. I would rather see companies return excess money back to their investor.
Ornasteel Holdings Bhd (5094.KU) - Malaysia
2nd quarter ended June 30:
Figures are in Ringgit (MYR).
2007 2006
Revenue MYR373,021,000 MYR249,041,000
Pretax Profit 29,454,000 25,609,000
Net Profit 22,971,000 22,697,000
Earnings Per Share 6.10 Sen 5.97 Sen
Dividend 10.00 Sen 5.00 Sen
6 months ended June 30:
Revenue 700,325,000 450,902,000
Pretax Profit 53,345,000 26,203,000
Net Profit 45,670,000 24,516,000
Earnings Per Share 12.12 Sen 6.45 Sen
Dividend 10.00 Sen 5.00 Sen
Ornasteel Holdings Bhd (5094.KU) - Malaysia
3rd quarter ended Sep. 30:
Figures are in Ringgit (MYR).
2007 2006
Revenue MYR302,595,000 MYR290,842,000
Pretax Profit 23,411,000 37,317,000
Net Profit 19,016,000 31,964,000
Earnings Per Share 5.05 Sen 8.43 Sen
Dividend Omitted Omitted
9 months ended Sep. 30:
Revenue 1,002,920,000 741,744,000
Pretax Profit 76,756,000 63,520,000
Net Profit 64,686,000 56,480,000
Earnings Per Share 17.17 Sen 14.87 Sen
Dividend 10.00 Sen 5.00 Sen
