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Kop
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Posting #11: Thu May 10th, 2007 03:10 |
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Agreed lah.
But...in a way, you could argue that your share of the cake is in relatively safe hands at this juncture.
Of course it would have been much safer under your own pillow. :D
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Moolah
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Posting #12: Thu May 10th, 2007 03:14 |
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Kop wrote: Agreed lah.
But...in a way, you could argue that your share of the cake is in relatively safe hands at this juncture.
Of course it would have been much safer under your own pillow. :D
LOL!!!
Under my pillow? How you know that cows have huge pillows?
:s3:
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Moolah
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Posting #13: Thu May 10th, 2007 06:55 |
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My Dearest Propie,
Reagrding the following issue.
- this 1 make money oso no use....some1 eating up cash from 100 mil to zilch in to years
Let me guess. Your point is that in 06 Q1, Orna had some 94 million in cash or a nett cash of 69.412 mil.
Today, a year later, orna is in a nett debt of 5.999 million.
Yes, the concern has a point and i believe it's up to the investor (if he/she is interested) to investigate why.
I would have a look at the 06 Q4 earnings to see where the money go.
Quarterly rpt on consolidated results for the financial period ended 31/12/2006
And from there, I would click on the cash flow statetement attached to the excel file.
Look under Investigating Activities.
What do you see?
Do you or would you accept what the company is doing? If no, call it a day on the stock, yes?
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Moolah
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Posting #14: Thu May 10th, 2007 07:01 |
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My Dearest Propie,
But if interested.. i would dig up info on that lumpy capex of 78.665 million.
Here is a snippet from RHB's report on Orna back on March 2007.
- Ornasteel’s RM90m new cold rolling mill that produces high drawing quality CRC and thin gauge CRC (with thickness of between 0.17 and 0.3mm) will commence commercial production by April 2007, that is about two months ahead of our expectation. The production level of the mill is projected at 10,000mt per month initially and should gradually move up to full capacity of 15,000mt per month by end-2007.
That's where it went.
So how would one evaluate OrnaSteel then?
Me? I would look at the table again and see if I see I can evaluate OrnaSteel's management of its cash..
From 05 Q1 it started as a company with nett debts of over 100.328 million.
8 quarters later... company nett debt is now at 5.999 million.
Would you be impressed with it that it had finished a capex on a 90 mil new cod roll mill?
How?
Err.. would like to hear some comments from you.
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prophet
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Posting #15: Thu May 10th, 2007 07:26 |
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My dearest Moo
i sure would love a projection done just oin the RM90m new cold rolling mill . Otherwise its hard to comment. I aint no expert in steel maufacture, so if anyones got a projection on the investment its most welcomed before further comments.
For a start, whats the ROI on the project?
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Moolah
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Posting #16: Thu May 10th, 2007 07:32 |
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prophet wrote: My dearest Moo
i sure would love a projection done just oin the RM90m new cold rolling mill . Otherwise its hard to comment. I aint no expert in steel maufacture, so if anyones got a projection on the investment its most welcomed before further comments.
For a start, whats the ROI on the project?
My dearest, dearest Prop,
Kakaka... I hope this is not a discussion where I am trying to convince you on this stock, ok? (hope u understand this point)
Anyway, you asked me where the money went. And from the cash flow statement stated on its Q4, some 78.665 million was spend on property and plant. And when i check on my old notes and reports, RHB was the one that mentioned Orna has a new 90 million CR plant ready to be in production in April.
So.. i really do not have the info on the ROI of this project.
ok?
nah... :s27:
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prophet
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Posting #17: Thu May 10th, 2007 07:59 |
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My Dearest Moo
No, You did not convince me to buy. But if theres a good reason to reinvest the Cash, then seems the managemnet is trying make more returns on shreholders cash, which in itself is good.
Now, the question is the rate of return....how much? 
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Moolah
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Posting #18: Thu May 10th, 2007 08:16 |
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prophet wrote: My Dearest Moo
No, You did not convince me to buy. But if theres a good reason to reinvest the Cash, then seems the managemnet is trying make more returns on shreholders cash, which in itself is good.
Now, the question is the rate of return....how much?
My dearest, dearest, dearest Propie,
Hmmm... yikes! I have NOT convince you to buy... err.... what on earth have i been doing all this time?? Was my head corrupted by some unusual tauntings? :s35:
However, rest assured... i shall.... improve... :s37:
With that... i guess i have to say... i be back.... :s49: :s49: :s49:
wif more info i hope...
:s37:
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Moolah
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Posting #19: Thu May 10th, 2007 08:32 |
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My Dearest Propie,
This the best info i can get...
from the wordfile attached to the quarterly earnings.
- The Group has started the production of the new 4 feet cold rolling mill after the successful commissioning stage at end of March. We will focus on the production of high drawing quality CRC and thin gauge CRC to position us as a leading producer of high quality cold rolled coil. With the increased production capacity and favorable market condition, the Group is well prepared to capture the business opportunity of coming quarters.
Err.. yes.. it does not really help yes? But that's the best i have...
how?
Can ah?
:s27:
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hhc1977
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Posting #20: Thu May 10th, 2007 09:44 |
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mm,
u might want to point out that orna is owned by world major steel pruducer. This is definitely another advantage in doing this kind of cut throar biz.
At least thhe way they turned from net deb of over 100M to almost debt free in cut throat environment, is not easy....
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