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Tuesday, November 23, 2010


LionInd : At 1.92, will be testing 1.90 support level, also the 50-MA. All the arrows pointing downwards. So, I will be averaging down(not cut-loss). Next supports at 1.81 and 1.73. AFter today's sell-down, RSI will be below 50 now, and I m guessing it to be at 47. Check on my guess tonight.

Lion Industries posts RM18.7m net loss
Written by Joseph Chin
Tuesday, 23 November 2010 19:30


KUALA LUMPUR: Lion Industries Bhd swung into the red with net loss of RM18.7 million in the first quarter ended Sept 30, 2010 due to a decline in volume of steel sold and higher raw materials.

It said on Tueday, Nov 23 revenue declined 19.2% to RM1.09 billion from RM1.35 billion. Loss per share was 2.6 sen compared with earnings per share of 9.78 sen.

Lion Industries said the decline in revenue was mainly due to lower sale of the steel products in the domestic and overseas markets largely due to a steep contraction in steel consumption and higher raw material costs.

“As such, the group recorded a loss from operation of RM37 million as compared to a profit of RM71 million a year ago,” it said.

Wednesday, November 24, 2010

LionInd - Double Jeopardy for Steel Division (OSK)

Lion Industries’ 1QFY11 net loss of RM18.8m was slightly deeper than we expected and was below consensus estimates. The poor results were mainly attributed to the arrival of expensive feed material, namely iron ore and scrap metal, which were mismatched with weakening selling prices. The one-month shutdown at its Labuan plant added to the drag on group performance. As we expect a turnaround in 2Q and in view of the company’s undemanding valuation, we maintain our Trading BUY recommendation with a target price of RM2.32. The fair value is derived from 6x PER and 0.6x NTA/share on FY11 figures


爺爺泡的茶





TEH

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