【CSCSTEL 5094 交流专区】中钢大马

harimau

就在政府公布解放钢铁管制，业者可以自己从国外直接进口钢铁的时候，Ornasteel 随着宣布要改名，改成跟母公司 CSC 更有关联的名字。

正如前些时候我在 blog 提到的，钢铁买家如工程、建筑、汽车业者也将受惠，最近建筑业者在报纸上就说他们有望通过从国外进口钢铁而使成本降低 10% 左右，因为本地钢铁的地下价比国外报价还高。然而不晓得他们是否有把运输成本也算进去了？

而如果业者要从国外进口，会跟谁买呢？他们无可避免的还是要接触 Ornasteel 的母公司中钢（全球头五大钢铁供应商之一），而最后出货给他们的很可能就是已经改名了的 Ornasteel。

goodluck88

虎大也有onastel?

ekaj

原帖由 harimau 于 23-5-2008 09:54 AM 发表
收到年报了吗？

今年股息有 12% 哦！

请问年报那里找得到? website好象没有. 股息宣布了吗? 谢谢.

stereo

bursa 有，看ONASTEL的报告

ekaj

找到了, 谢谢.

弹煮

Company Name	:	ORNASTEEL HOLDINGS BERHAD
Stock Name	:	ONASTEL
Date Announced	:	15/02/2008

Type	:	Announcement
Subject	:	ORNASTEEL HOLDINGS BERHAD ("OHB") - RECOMMENDATION OF A FIRST AND FINAL DIVIDEND OF 12% OR 12 SEN PERSHARE LESS 26% TAX FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2007

Contents :

The Board of Directors of OHB has recommended a First and FinalDividend of 12% or 12 sen per share less 26% tax for the financial yearended 31 December 2007 for payment on 11 July 2008 to the shareholdersof the Company whose names appear on the Record of Depositors at theclose of business on 30 June 2008 (exdate) subject to the approval of theshareholders at the forthcoming Fourth Annual General Meeting of theCompany, date of which would be determined and announced in due course.

The higher rate of dividend recommended for the financial year ended 31December 2007 as compared to the final dividend of 10% less 27% taxpaid in corresponding period in the previous year was because of thehigher profit achieved for the year.

tingen828

谢谢虎大大的分享.
小弟有些疑问.
ORNASTEEL 的HR本来就得到中钢的优待了.ORNASTEEL会赚钱也是因为这个优势.这样的话,政府的公布好象没带来好处.再说,如果ORNASTEEL直接从中钢买入钢铁然后再转手卖出(便可净赚)那也要看中钢可不可以供应啦.现在全球的CR好像在缺货,因为HR价格比CR高的关系吧.
小弟反而担心的是本地钢铁商从国外直接进口钢铁,会影响(减少)ORNASTEEL的定单产量.如果发生钢铁销价,那也会减少ORNASTEEL的利润;因为有40%HR是要跟本地HR商买的.听说品质不是很好(不能生产高级品).还有,中国入口的钢铁(保钢)也许会比来自台湾的便宜.
不知虎大大的看发又如何呢?
请多多指教!

harimau

这个 40% 也是取消了，所以我说这次 Megasteel 将会是独憔悴的一个。金狮又再变法了，不过就是没有 BJ 变法那么精彩。。。

tingen828

那就看看ORNASTEEL下季的盈利吧.
谢谢虎大大!

kit13

千里马 -

闪闪simsim

如果钢铁起价话会影响股价吗???

jenefer

取消了嗎?
我是員工我都不知道，你那聽來的。

harimau

原帖由 jenefer 于 26-5-2008 11:57 AM 发表
取消了嗎?
我是員工我都不知道，你那聽來的。

http://voyager8.blogspot.com/2008/05/malaysia-to-liberize-steel-market.html

Mr.Business

前景明朗‧鋼鐵股成建材業首選
2008-05-27 18:25

（吉隆坡）自政府撤銷鋼鐵價格頂價以來，鋼鐵價格節節上漲並不令人意外，分析員認為鋼鐵價格會隨著全球鋼鐵價格走漲而進一步攀升，加上全球需求堅挺，鋼鐵業備受看俏。

然而，分析員稍微看淡洋灰業的前景，主要因泰國的競爭，在建築工程或展延大前提下，加上產業訂購率偏低，分析員對建材股保持“中和”。

對有意參與建材股的投資者，分析家建議投資者選擇全球前景亮麗和提供更卓越訂價機制的鋼鐵股。

鋼鐵價格的飆漲，加上其他鋼材和運輸價格或持續挺升，他們預計對建築業和產業會產生負面影響。

據大馬建築商公會主席黃培德透露，鋼條價格目前企於每公噸介於3800令吉至4000令吉之間，而市場開放前的黑市價每公噸為3000至3600令吉。較早的鋼鐵頂價為每公噸2400令吉。

盡管美國和歐盟經濟放緩，但新興市場如中國和印度卻持續扶托需求，因而國際鋼鐵協會（ISIS）預測全球鋼鐵消費在2008年增長6.7%。

聯昌國際投資銀行透露，國內鋼鐵需求有賴於3大工程的落實，包括第二檳城大橋、雪州─彭亨輸水工程、以及雙軌鐵道工程，估計將使用逾100萬公噸的鋼鐵，或佔大馬過去4年長型產品總消費量大約25%。

在奧運即將來臨之際，中國最近暫時關閉數家鋼鐵廠，加上中國承諾長期抑制生產和出口，相信過剩鋼鐵產品和中國傾銷的情況已減低，使鋼鐵價格保持堅穩。

該行也表示，政府也有意開放洋灰業，但其開放程度預料對洋灰價格的衝擊不如鋼鐵價格般，因洋灰要進出口有點困難，因其耐儲時間較短。

再者，每個國家的洋灰價格都不同，比方說像泰國的洋灰價格仍然是半政府控制，目前比大馬的頂價較低。因此，從泰國進口對本地廠商或造成威脅，因價格競爭力和方便運輸。

無論如何，以區域來說，該行表示大馬洋灰價格仍然是繼泰國之後第二低的，使本地廠商仍然有調升價格的空間，盡管其調幅不算大。

該行指出，雖然建材價格高漲尋建築業和產業不利，但在建材價格高漲下，政府或允許政府工程價格的波動性，這反映政府有意維持國家基本建設成長和發展的努力。

開放市場‧拉法基馬或受惠

政府計劃開放本地洋灰業，使拉法基馬洋灰（LMCEMNT，3794；主板工業產品組）擁有更好定價能力，將額外成本轉嫁客戶，惟其也將面臨進口洋灰的競爭，最後利弊尚有侍斷定。

聯昌證券表示，國內洋灰市場開放，對該行業風險有限，因為本地洋灰製造商是否調高洋灰價格，以反映成本揚升還是未知數。

該行表示，若是符合經濟效益，較大型建築公司，如怡保工程（IJM，3336；主板建築組）、WCT工程（WCT，9679；主板建築組）和金務大（GAMUDA，5398；主板建築組），以及產業發展商將考慮進口洋灰，特別是從泰國及越南進口。

大馬從東盟進口洋灰的進口稅為5%，而非東盟國家進口稅則是50%。目前大馬半島洋灰頂價每公噸介於217令吉至233令吉間，沙巴及砂拉越則介於275令吉至352令吉。

分析員表示，本地洋灰價格仍然高於出口價格，目前介於每公噸36美元至39美元間（115令吉至125令吉）。有鑑於此，本地洋灰製造商很難生產供出口市場。

而且，本地洋灰價格比印尼及新加坡低，使本地洋灰價格有揚升空間。若以最樂觀層面看，本地洋灰價格升至印尼市場的94美元水平，將使拉法基馬洋灰的2009年淨利揚升172%潛能。

但這情況料不會出現，因為其他市場價格偏低，特別是泰國洋灰價格每公噸僅為62美元。而且進口洋灰也需要考慮其他因素，包括運輸費、儲存及品質因素等。

http://biz.sinchew-i.com/node/13194

scsiang82

Monday June 9, 2008
Ornasteel’s good dividend yield to support share price


ORNASTEEL Holdings Bhd’s share price is likely to be supported by its attractive dividend yield, which is among the highest given by listed steel companies.

It declared a gross final dividend of 12 sen per share for year ended Dec 31, 2007 (FY07), translating into a yield of 7.9% based on Friday’s closing price of RM1.52. It has not fixed the ex-date but dividend payment is on July 11.

It has a good dividend payment track record since the listing in December 2004. It has a dividend policy of paying at least 50% of profit after tax, and dividend per share had gradually increased to 12 sen for FY07 from 5 sen for FY05.

This is likely to continue given its net cash position, little capital expenditure planned and improving earnings outlook.

Its net cash amounted to RM75.4mil as of end March, which would allow it to weather through times of economic uncertainties and rising interest rates scenario.

Ornasteel is trading at attractive valuations of 6.9 times price-to-earnings ratio based on FY08 estimated earnings.

The flat steel producer is unlikely to be as strongly impacted by the recent hikes in energy prices as the upstream players.

An analyst with OSK Investment Bank said Ornasteel’s energy consumption is not as high as that of upstream players.

“Ornasteel does not have furnace plants that need a lot of energy to heat up,” he said.

Besides, international steel prices had jumped by a huge quantum; hence Ornasteel would still see attractive margins, he added.

OSK, in a separate report, said demand for flat steel products was anticipated to remain buoyant given the wider applications.

“Contribution from the new cold-rolled coil mill, which adds about 180,000 tonnes a year, will improve competitiveness, reduce imports and enhance profit margins because it would move up the value chain,” it said.

Ornasteel was anticipated to capitalise on import discounts and better material supply from China Steel Corporation, the research house added. The Taiwan-based company owns 45.4% of Ornasteel.

http://biz.thestar.com.my/news/story.asp?file=/2008/6/9/business/21491996&sec=business

hdcyng

04-06-2008: Upbeat steel sector boost for Ornasteel


Ornasteel Holdings (RM1.51) reported a good set of numbers for the first quarter of 2008 (1Q08). Net profit was up by about 5.7% year-on-year (y-o-y) to RM24 million — and was significantly higher than the RM15 million in 4Q07, where margins were affected by higher costs of production.

Ornasteel has successfully recovered lost ground by raising selling prices for its products. Operating margins in 1Q08 improved to 10.9% from 8.6% in 4Q07 and 9.9% in the previous corresponding quarter.

Higher selling prices and sales mix lift margins
The faster-than-expected margins recovery has allayed some of our fears that the company is unable to pass on higher costs under competitive market environment. To minimise the risks of future pricing mismatch, Ornasteel has adopted a monthly pricing basis instead of the usual quarterly pricing basis. The move will help protect margins from further cost increases.

Additionally, demand for cold rolled coils (CRC) has strengthened in the last quarter. Sales for CRC enjoyed a strong 23% y-o-y growth to RM187.9 million, accounting for some 55% of total sales. This has helped pick up the slack in sales for galvanised steel (GI) and pre-painted galvanised steel (PPGI).

Demand for the building materials appears likely to decline further with the slowdown in property and construction projects.
The shift in sales mix — CRC accounted for about 47% of sales in 2007 — also helped boost overall margins. Margins for CRC are much higher than those for GI and PPGI at roughly 10.4% and 4.7%, respectively in 1Q08.

But cautious on outlook
Despite the improvement in financial results, management remains cautious on the outlook going forward. Prices for iron ore, coking coal and crude oil have continued to climb in the past weeks — in turn raising costs for hot rolled coils (HRC), the company’s principal raw material.

Although Ornasteel has managed to pass on the higher costs so far, further selling price increases may eventually dent demand. Indeed, stronger sales in 1Q08 were due primarily to higher selling prices while volume demand growth was more muted.

Leveraging on the CSC brand name
Positively, Ornasteel’s close relationship with its controlling shareholder, China Steel Corp (CSC), gives the company a competitive edge.
Ornasteel sources about 60% of its HRC requirements from CSC, including high-grade interstitial atom-free steel that is difficult to obtain in the open market.

The better quality raw material enables the company to produce higher grade CRC, the bulk of which are currently imported. In fact, about half of our country’s CRC consumption is currently imported, suggesting plenty of room for substitution.

Ornasteel has proposed to change its name to CSC Steel Holdings. The move will enable the company to capitalise on the established brand name of the Taiwan-based steel maker.

Fairly valued with higher-than-market average yields
The stock is trading at about 6.7 times our estimated 2008 earnings, which is fairly consistent with the average valuations for steel stocks. Net tangible assets stood at RM1.88 per share. Given prevailing positive sentiment for the steel sector and Ornasteel’s higher-than-market average yields, its downside appears limited.

Ornasteel’s balance sheet is in good shape. Net cash increased to RM75.4 million at end-1Q08 from RM53.8 million at end-2007. With minimal capital expenditure planned, its cash position should improve further.

Hence, shareholders could expect relatively generous dividend payouts in the current year.

Dividends totalled 12 sen per share in 2007. Assuming a similar payout, dividends should rise to 13 sen per share, which will give investors an attractive net yield of 6.4% at the current price.

-- from The Edge Daily

hdcyng

最大鋼廠有意來馬設廠‧鋼鐵股應聲上揚

大馬財經
• 行業快門

2008-06-12 11:20
（吉隆坡）全球最大鋼鐵廠有意在馬投資10億美元設廠消息，令馬股鋼鐵股“聞風起舞”，尤以金獅多元控股（LIONDIV，2887；主板消費品組）漲勢最猛，股價飆升28仙或23.1%以1令吉49仙作收，飆幅創下自去年10月25日來最大漲幅。
另外，金獅工業則一度揚15仙或5.5%至2令吉87仙，收市掛2令吉84仙，揚升12仙；安裕資源揚6仙或1.6%，以3令吉78仙作收。南達鋼鐵一度揚6仙至3令吉16仙，收市掛3令吉14仙，揚升4仙；馬來西亞鋼廠揚升2仙至1令吉76仙作收；錦記鋼鐵揚升5仙，以1令吉57仙收市。
巴西的淡水河谷公司有意在東南亞斥資10億美元設廠，大馬或是設廠的首選地點，僑豐投資研究說，大馬是該公司設廠的首選，因在大馬可達到節省成本之效，由此運銷亞洲各國迎合鋼鐵增長需求時，亦可在暴漲的船運費中節省大筆款項。
大華僑豐資產管理基金經理看好大馬鋼鐵股，鋼鐵廠商將由低運輸費獲益。
管制再放寬‧國際需求殷切　本地鋼鐵具出口競爭力
政府進一步放寬鋼鐵管制，取消更多建築鋼產品的准證，加上國際市場仍然對鋼鐵產品需求殷切，特別是從高油價格獲得暴利的中東市場，預料將有充足油錢進行建築工程計劃，皆有利本地鋼鐵業前景。
大馬研究表示，政府放寬鋼鐵管制，是確保發展計劃有足夠的鋼鐵供應，因此並不擔心長鋼產品准證進一步取消。
國內鋼鐵出口國際
國際鋼鐵產品價格及運輸成本走高，惟國內鋼鐵公司仍能展現國際出口市場競爭力，例如安裕資源2007年財政年第4季的製造銷售額，其中25%份額供出口市場。
國內鋼鐵價格市場開放，肯定對國內鋼鐵業者有利，主要是消除鋼鐵市場價格不明朗，使業者可將燃油及能源成本轉嫁出去。同時國內鋼鐵價格將國際市場價格“平起平坐”。
國內鋼鐵市場需求仍然殷切，選擇性大型發展計劃仍然如期推行，如市場傳言檳城第二大橋料在2011年如期完成。而海外市場如中東地區需求仍然強勁，使該研究建議“加碼”鋼鐵業。
大馬研究將安裕資源（ANNJOO，6556；主板工業產品組）列為首選鋼鐵股。假設鋼條價格每公噸起100美元，該公司2008年及2009年財政年淨利將增加7%至8%，而該公司新建熱爐工廠將是重估價值的“催化劑”，內部成長率可達到30%至40%水平。
僑豐投資研究則表示，大馬長鐵產品領域的前景備受看好，主要是受到中國鋼鐵公司提高鐵礦砂價格95%有利因素支撐。
世界最大鐵礦砂生產商─巴西淡水河谷公司（Cia Vale do Rio Doce）有意投資10億美元，以在大馬設立新鋼鐵丸工廠，這對本地鋼鐵公司有利，因為可節省進口原料的運輸成本。
目前大馬每日生產400萬公噸的鋼鐵丸產品，惟市場需求為600萬公噸，所以大馬還是需要從巴西進口約200萬公噸的原料。若一旦巴西多西河谷公司到大馬設立新工廠，將使大馬更輕易及更便宜地獲得鋼鐵產品原料。
中國提高鋼鐵產品出口稅至25%（今年1月1日生效），使市場缺乏鋼坯，使本地鋼鐵業者從中受惠。
僑豐研究建議“加碼”鋼鐵業，並建議“買進”金獅工業（LIONIND，4235；主板工業產品組）、安裕資源、南達鋼鐵（SSTEEL，5665；主板工業產品組）、馬來西亞鋼廠（MASTEEL，5098；主板工業產品組）。惟建議“短線買進”錦記鋼鐵（KINSTEL，5060；主板工業產品組）。


星洲日報／財經‧2008.06.12

stereo

12仙股息来了
EX-date        :26/06/2008
Entitlement date:30/06/2008
ONASTEL股息很吸引人

kaiyet

原帖由 stereo 于 13-6-2008 08:54 AM 发表
12仙股息来了
EX-date        :26/06/2008
Entitlement date:30/06/2008
ONASTEL股息很吸引人

刚想问annual report里面讲的股息几时才annouce~~~
收了股息应该就会走人了~~

stereo

不是已经宣布了吗！