HG Metal

HG Metal

Postby winston » Mon May 12, 2008 4:15 pm

HG METAL HITS RECORD HIGH AFTER STRONG H1

HG Metal Manufacturing Ltd , which makes steel products, gained as much as 6.2 percent to an all-time high of S$0.43 after the the firm more than tripled its half-year net profit, dealers said.

More than 16 million shares changed hands by 0656 GMT.

HG Metal said its half-year earnings soared on the back of higher steel prices and greater demand for its steel products from the construction, shipbuilding and ship repair industries.

"Barring unforeseen circumstances, the group is on track to achieve record annual sales revenue and profitability for FY2008," the company said in a press release. "Besides organic growth, the group will continue to look for strategic alliances and possible M&A ventures."
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: HG Metal

Postby tinpeng » Wed May 21, 2008 10:51 am

I like this company. Low Forward PE for 2008 at about 4x-5x, if u annualise the earnings....

Risk area. Political Situation in malaysia may affect expansion plans...
tinpeng
Loafer
 
Posts: 28
Joined: Sun May 18, 2008 12:05 am

Re: HG Metal

Postby winston » Wed May 21, 2008 11:02 am

Hi tinpeng,

Good to see you here. Welcome !

The following are some Target Price that I have on this company:-
1) CIMB 0.72 May 13 from 0.64 Feb 5 from 0.79 Nov 26 Oct 10 from 0.6 May 14
2) Phillips 0.53 May 16

I still have this counter on my watchlist. Not vested yet.

Take care,
Winston
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: HG Metal

Postby learn2win » Wed May 21, 2008 11:38 am

Techinical View: It has tried to break new high @ 42.5 cents (price adjusted after rights & bonus). Now consolidating for another try. I just like stocks going new high. Simply love it. :)

not vested but have added it to my watchlist.
Guard Thy Treasure from Losses - The Fourth Cure for a Lean Purse - George Clason
User avatar
learn2win
Coolie
 
Posts: 153
Joined: Wed May 14, 2008 3:30 pm

Re: HG Metal

Postby kennynah » Wed May 21, 2008 3:43 pm

welcome tinpeng... great to have remisier in our midst...

tinpeng wrote:I like this company. Low Forward PE for 2008 at about 4x-5x, if u annualise the earnings....

Risk area. Political Situation in malaysia may affect expansion plans...
Options Strategies & Discussions .(Trading Discipline : The Science of Constantly Acting on Knowledge Consistently - kennynah).Investment Strategies & Ideas

Image..................................................................<A fool gives full vent to his anger, but a wise man keeps himself under control-Proverbs 29:11>.................................................................Image
User avatar
kennynah
Lord of the Lew Lian
 
Posts: 16005
Joined: Wed May 07, 2008 2:00 am
Location: everywhere.. and nowhere..

Re: HG Metal

Postby yeokiwi » Wed May 21, 2008 8:47 pm

tinpeng wrote:I like this company. Low Forward PE for 2008 at about 4x-5x, if u annualise the earnings....

Risk area. Political Situation in malaysia may affect expansion plans...


The PE is low but steel companies usually command a low PE due to their volatility in earning.
Besides, HG metal typically has a poor cashflow due to their high working capital. They may be earning money but it seems that the money cannot flow to shareholders. :evil:

If cashflow is taken into consideration, I think Asia Enterprise is a better bet than HG metal. :mrgreen:
User avatar
yeokiwi
Loafer
 
Posts: 32
Joined: Sat May 10, 2008 10:25 pm

Re: HG Metal

Postby qxing78 » Thu Jul 24, 2008 12:07 am

Bought some on Monday to punt, as its charts look good. Looks like going to test new high.
Glanced a bit on its financials, seems like it will benefit from the huge increase in steel prices in recent months, as they have big inventories on hand.
User avatar
qxing78
Loafer
 
Posts: 96
Joined: Mon May 26, 2008 9:41 pm

Re: HG Metal

Postby qxing78 » Fri Jul 25, 2008 1:38 pm

HG Metal’s 3Q2008 earnings jump a whopping 277% to S$28.5 million
• Revenue for the quarter increased by 90% to S$234 million with
continued high steel prices and strong demand for steel products
• Net profit attributable to shareholders for 3Q2008 is 57% more than the
net profit for the entire of FY2007
• The Group is looking at merger and acquisition opportunities
User avatar
qxing78
Loafer
 
Posts: 96
Joined: Mon May 26, 2008 9:41 pm

Re: HG Metal

Postby Rontan » Thu Jul 31, 2008 4:23 pm

It puzzle me that not many people are interested in this company even after it announced a stellar Q3 result :? Its share price did went up to 42c but is now retreating back to below 40c. This is a company whose Q3 profit alone is more than the entire last year profit, still not good enough meh? Steel price is likely to stay firm in the foreseeable future and I am sure their Q4 will be another remarkable one. In fact, the company is taking advantage of the high steel price by stocking up their inventory bought at lower price.

So are you people quietly accumulating or there is something that I have missed?

Vested.
Rontan
Loafer
 
Posts: 36
Joined: Mon Jul 28, 2008 10:26 am

Re: HG Metal

Postby blid2def » Thu Jul 31, 2008 4:27 pm

Rontan wrote:It puzzle me that not many people are interested in this company even after it announced a stellar Q3 result :? Its share price did went up to 42c but is now retreating back to below 40c. This is a company whose Q3 profit alone is more than the entire last year profit, still not good enough meh? Steel price is likely to stay firm in the foreseeable future and I am sure their Q4 will be another remarkable one. In fact, the company is taking advantage of the high steel price by stocking up their inventory bought at lower price.

So are you people quietly accumulating or there is something that I have missed?

Vested.


Currently not vested; I'm vested in AEH instead though. It's been a while back - I can't even remember why I chose AEH over HG Metal when I was looking at the steel counters. LOL. I need to go back and read, see what's going on again.
blid2def
Permanent Loafer
 
Posts: 2344
Joined: Tue May 06, 2008 7:03 pm

Next

Return to H to K

Who is online

Users browsing this forum: No registered users and 3 guests

cron