Thursday, 1 December 2011

Masteel: On the Right Track?

For the period of July-Sep 2011, most of the Malaysia's steel companies are still facing a hard time. They are either making loss or earning less for the quarter.

Masteel is the last to announce its 2011Q3 earning, guess what, it's a decent one.

For the period mentioned, Masteel's net profit surged 240% YoY and 5% QoQ to RM300mil and RM16.2mil respectively, though its revenue fell 5% QoQ. For the first 3 quarters of 2011, Masteel's revenue and profit rise 29% and 97% respectively.

Since Masteel-KUB joint venture for commuter project in Iskandar area get the green light from the state government, Masteel announces that it has held a series of meeting with the PM, ministry of transport and KTM. Their next meeting is scheduled in the first quarter of 2012.

KUB (in which our finance minister owns 22%) just recorded loss in the most recent quarter.

RM mil 2011 (Jul-Sep) 2011 (Apr-Jun)
Rev Profit Rev Profit
Lion 1327 30 1481 48
Ssteel 734 16 903 50
Ann Joo 625 -24 555 33
Kinsteel 404 -26 485 -21
Perwaja 356 -16 382 -15
Masteel 300 16 338 15

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