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Market Date: 20 Nov 2017

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09 Nov 201731 Dec 2017330 Sep 2017403,16511,6727,6487.600.003.050 Malaysia Stock - KLSE Quarter Report History
07 Aug 201731 Dec 2017230 Jun 2017307,87911,8829,0159.000.002.960 Malaysia Stock - KLSE Quarter Report History
02 Aug 201731 Dec 2017131 Mar 2017406,61417,70012,62312.600.002.940 Malaysia Stock - KLSE Quarter Report History
27 Feb 201731 Dec 2016431 Dec 2016350,1366,3655,5015.508.002.820 Malaysia Stock - KLSE Quarter Report History
04 Nov 201631 Dec 2016330 Sep 2016323,12516,77817,29917.300.002.710 Malaysia Stock - KLSE Quarter Report History
10 Aug 201631 Dec 2016230 Jun 2016396,279-3,014-10,284-10.300.002.530 Malaysia Stock - KLSE Quarter Report History
10 May 201631 Dec 2016131 Mar 2016408,40132,83224,93624.900.002.590 Malaysia Stock - KLSE Quarter Report History
19 Feb 201631 Dec 2015431 Dec 2015354,649-4,383-7,421-7.400.002.410 Malaysia Stock - KLSE Quarter Report History
09 Nov 201531 Dec 2015330 Sep 2015557,48528,77820,42120.400.002.380 Malaysia Stock - KLSE Quarter Report History
12 Aug 201531 Dec 2015230 Jun 2015452,975-19,231-14,907-14.900.002.250 Malaysia Stock - KLSE Quarter Report History
11 May 201531 Dec 2015131 Mar 2015381,640-1,926-2,888-2.900.002.360 Malaysia Stock - KLSE Quarter Report History
24 Feb 201531 Dec 2014431 Dec 2014525,4445,643-511-0.500.002.340 Malaysia Stock - KLSE Quarter Report History
1234

DateFinancial
Year
Ex-DateEntitlement
Date
Payment
Date
Entitlement TypeDividend
(Cent)
Dividend
(%)
Details
21 Apr 201731 Dec 201613 Jun 201715 Jun 201711 Jul 2017Final Dividend8.00000.00 Malaysia Stock -  Dividend
10 Apr 201231 Dec 201121 May 201223 May 201208 Jun 2012Final Dividend18.00000.00 Malaysia Stock -  Dividend
10 Aug 201131 Dec 201106 Sep 201108 Sep 201128 Sep 2011Interim Dividend12.00000.00 Malaysia Stock -  Dividend
05 Apr 201131 Dec 201026 Apr 201128 Apr 201112 May 2011Final Dividend3.00000.00 Malaysia Stock -  Dividend
19 Apr 201031 Dec 200910 May 201012 May 201028 May 2010Final Dividend3.00000.00 Malaysia Stock -  Dividend
08 Aug 200831 Dec 200806 Oct 200808 Oct 200828 Oct 2008Interim Dividend8.00000.00 Malaysia Stock -  Dividend
31 Mar 200831 Dec 200708 May 200812 May 200828 May 2008Final Dividend20.00000.00 Malaysia Stock -  Dividend
07 Aug 200731 Dec 200727 Sep 200701 Oct 200730 Oct 2007Interim Dividend8.00000.00 Malaysia Stock -  Dividend
23 Apr 200731 Dec 200609 May 200711 May 200728 May 2007Final Dividend12.00000.00 Malaysia Stock -  Dividend
31 Jul 200631 Dec 200613 Sep 200615 Sep 200628 Sep 2006Interim Dividend8.00000.00 Malaysia Stock -  Dividend
15 Feb 200631 Dec 200502 Mar 200606 Mar 200628 Mar 2006Interim Dividend15.00000.00 Malaysia Stock -  Dividend
28 Jul 200531 Dec 200513 Sep 200515 Sep 200528 Sep 2005Interim Dividend15.00000.00 Malaysia Stock -  Dividend
12

MSC (5916) : MALAYSIA SMELTING CORPORATION BERHAD
heamkiewyahoocom
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01 Jan 2012, 07:54 AMPost #1
The bad time for MSC was over:
1) Loss making investments in non-Tin business had been disposed.
2) Balance sheet is now much better than before, Net current assets has grown high.
3) Has started to pay much higher dividend, i.e. 12 sen interim dividend recently.
4) Currently trading at very low PE, less than 4 times.
ILoveDividend
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01 Jan 2012, 10:46 AMPost #2
The bad time for MSC was over:
1) Loss making investments in non-Tin business had been disposed.<...heamkiewyahoocom @ 01 Jan 2012, 07:54 AM

This is a very attrative stock and thanks for sharing. Its business has been recovering since 2011, hope it can doing well afterward.
csern888
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05 Feb 2012, 05:59 PMPost #3
Agreethumbup I'm accumulating this stock.
csern888
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05 Feb 2012, 06:10 PMPost #4
http://msmelt.listedcompany.com/misc/MSC_3Q2011Slides.pdf
ILoveDividend
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05 Feb 2012, 07:40 PMPost #5
Agree...csern888 @ 05 Feb 2012, 05:59 PM

Is this company doing the same business as PERSTIM? PERSTIM is having a difficult time in their business now.
csern888
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05 Feb 2012, 08:47 PMPost #6


Is this company doing the same business as PERSTIM? PERSTIM is having a difficult time in th...ILoveDividend @ 05 Feb 2012, 07:40 PM

Same business.Yah.prestim earning is soften. I think overall should be good. The company believed that it would deliver dividend on Q4.
Jacky
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23 Feb 2012, 07:47 PMPost #7
Wah...Why loss so much money in this quarter one? star
ILoveDividend
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24 Feb 2012, 01:46 PMPost #8
Looks like MSC's business is yet recoverd? star
honggimeng
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06 Mar 2012, 12:43 PMPost #9
冷眼随笔:马熔锡阴沟里翻船

冷眼随笔
财经
评论
2012-03-02 18:30
马熔锡(MSC)在去年12月31日财务年的第四季,每股净亏45.90仙,导致投资者惊慌抛售,股价由4.80令吉的高峰,跌至2月29日的4.15令吉,共跌14%。

该公司去年首3季每股净利108.90仙,由于去年末季锡价由每公吨3万美元高峰,跌至1万9000美元,跟踪锡价及该公司业绩的投资者,原本已有心理准备,认为第四季的每股净利,必然比第三季为低,但是,第四季不但没有盈利,反而每股净亏45.90仙,实在出乎意料之外,难怪投资者抛售该公司的股票,导致股价暴跌。

由于该公司去年首三季每股净利高达108.90仙,故第四季每股虽然净亏45.90仙,全年仍取得61.60仙的净利,以目前约4.20令吉的股价计算,本益比仅为6.9倍,对于一只蓝筹股来说,仍属偏低。

该公司宣布派发18%的股息,上一年为15%。

假如投资者细读该公司2月23日发表的第四季财报了解该公司第四季亏蚀的原因的话,就不会有过度的反应。

居领导地位

首先,投资者要了解,马熔锡在世界锡业中,居于领导性的地位,业务分为两个部分:

第一部分:是熔锡厂,该公司在大马北海的熔锡厂,创于1887年,接受来自全球的锡苗,熔为纯度高达99.99%的锡块,叫“海峡锡”(Straits Tin),该公司的盈利来自熔锡费。一向很稳定,不受锡价波动的影响。去年该熔锡厂净赚5430万令吉。

第二部分是开采锡苗。该公司在大马和印尼采锡,大马的锡矿在霹雳州的高乌,也就是前拉曼矿场。该公司于2004年收购该矿场,加以发展,每年取得丰厚的盈利。

该矿场蕴藏量极大,还有很长的寿命。该公司在印尼的矿场,是在哥峇和邦加岛,分别以铁船和沙泵开采,一向盈利丰厚。

该公司第四季的亏蚀,祸根就在印尼,原来印尼当局,突然由去年10月1日起,禁止该公司输出邦加岛出产的锡苗,理由是该公司矿地开采权,将于2013年3月31日届满,尽管该公司已申请延长开采权10年,但尚未批准,结果该公司被迫减低生产,以免囤锡过多,减低生产率至每单位生产成本大增。

再加上去年末季锡价大跌,导致矿场亏蚀严重,为谨慎计,该公司决定注销在印尼的大部分投资,如此一来,该公司在印尼的锡场,在第四季亏蚀高达3500万令吉,抵消了大马矿场的大部分盈利,真的是阴沟里翻船。

亏损为一次过性质

锡矿下跌以及该公司乘机注销在外国的一些投资,也是该公司第四季亏蚀的原因之一。

总结该公司去年第四季受挫的原因,你会发现都是一次过性质,预料以后不会再出现,锡价已回升至每公吨2万4000多美
元,只要印尼申请延长矿地开采权获准,预料印尼方面的业务,不再拖累该公司今年的业绩。

该公司去年1月27日在新加坡增发2500万股,使资本由7500万令吉增至目前的1亿令吉,然后在新加坡股票交易所上市。新股的发售,刚好就是目前的股价,约为4.20令吉。

股神巴菲特说:当一只蓝筹股暂时因业务受挫,导致股价大跌时,正是投资于该股的良机。此话移用来形容目前的马熔锡,应该是适当的。

马熔锡是新加坡上市公司海峡商行的子公司,海峡商行是由华侨银行主席丹斯里陈振传的外孙女控制。

冷眼 股市基本面大师
notworthy
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06 Mar 2012, 01:27 PMPost #10
Looks like Q4 result is only one time loss. Hope it can post a better result in the coming report. smile
honggimeng
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12 Mar 2012, 08:25 PMPost #11
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分享锦集:马熔锡重组印尼业务●冷眼
分享锦集 财经 评论 2012-03-12 13:05
马熔锡在3月9日通过发给大马股票交易所的文告,宣布重组印尼的锡矿业务。
重组将分两阶段进行,完成后,该公司在印尼的锡矿权益,将由目前的75%, 减至37.5%。一家印尼公司 OSRL 将通过认购股份的方式,拥有马熔锡印尼业务的37.5%。
在重组之前,马熔锡在印尼的子公司,将通过特别股息,将未分发净利分给股东,马熔锡将可分得3375万美元,约合1亿令吉。
重组将在完成分发特别股息后才生效。
马熔锡是因应印尼政府的新矿业政策而进行业务重组。
邀印尼公司入股
实际上,该公司是将在印尼的业务清盘后,邀请印尼公司入股,重新出发。
马熔锡是在10年前,向澳洲公司收购在印尼邦加岛的锡矿,加以发展,成为该公司的主要盈利来源之一。
该公司拥有75%股权的哥峇 (KOBA) 锡矿,在印尼邦加伯里冬岛,取得4万1680公顷(10万3000英亩)的采矿权,为期10年,此项采矿权,将于2013年3月31日届满。
参股条件是争取延长采矿权10年
印尼公司 OSRL 的参股条件为:该公司必须向印尼政府要求及批准将采矿权延长10年至2023年3月31日。若 OSRL 无法做到,参股协议将自动失效。
印尼能源及矿物资源部长最近宣布,在印尼采矿的外资公司,必须在10年内,分阶段脱售股权给印尼投资者,10年后印尼公司必须拥有外资矿业公司的51%股权。
马熔锡重组印尼业务的计划,将提早符合印尼的新矿业政策,使该公司无后顾之忧。
印尼当局突然宣布,由去年10月1日起,暂时禁止哥峇锡矿出口该公司生产的锡,此举导致马熔锡在去年第4季,蒙受高达4587万令吉的亏损。(见3月3日本报“冷眼随笔”专栏“马熔锡阴沟里翻船”)
因此,相信马熔锡印尼业务的股权重组,也是要一劳永逸的解决此难题,俾重新上路,继续发展印尼的业务。
重组股权变易
从附图可以看出,马熔锡原本拥有印尼公司 BCL 的100%股权,BCL 则控制哥峇 (KOBA) 锡矿的75%。
重组的第一阶段,是由印尼公司 OSRL 以现金认购 BCL 的23%股权,参股后,OSRL 马上向印尼取得延长邦加岛的采矿权10年,如果 OSRL 无法做到,参股将自动失效。在采矿权获准延长10年之后,OSRL 有权认购 BCL 另27%股权,使该公司在 BCL 的股权,增至50%, 与马熔锡相等。
由于 BCL 拥有哥峇锡矿的75%股权,故马熔锡与 OSRL 在哥峇锡矿的实际权益均为37.5%(50% x 75% = 37.5%)。
重组后数项影响
作为马熔锡的股东,相信大家所关心的,是此项重组对该公司的影响:
①马熔锡将取回1亿令吉的现金(确实数目有待产业估值后才能决定)。该公司可减低债务,或投资于新业务或回退一部份给股东,无论如何处理此笔款项,都对股东有利。
②去年马熔锡的熔锡厂和在霹雳高乌的锡矿场(即前拉曼矿场),均取得非常丰厚的盈利,只因最后1季受印尼业务之累,而减低全年的盈利,此项重组,将彻底解决印尼业务的困境,今后印尼业务不但不会拖累该公司,反面会作出贡献。
③马熔锡在印尼的权益虽然由75%减至37.5%,但有望扩大业务范围,以弥补股权的减少。相信新股东 OSRL 有强大的后台,有能力取得更多的探、采矿权。实际上,马熔锡在文告中也明确的说 OSRL 将协助扩展 BCL 的业务。
这项重组彻底消除该公司的隐忧及不肯定性,长期来说,对该公司前途有利。

冷眼 股市基本面大师
csern888
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01 May 2012, 12:34 PMPost #12
RHB CAPITAL NOMINEES (TEMPATAN) SDN BHD 500,000 0.50
FOR FONG SILING (CEB)
ILoveDividend
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01 May 2012, 01:14 PMPost #13
RHB CAPITAL NOMINEES (TEMPATAN) SDN BHD 500,000 0.50
FOR FONG SILING (CEB)csern888 @ 01 May 2012, 12:34 PM

Woh.. holding RM2mil in msc.
ILoveDividend
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09 Aug 2012, 09:07 AMPost #14
Another poor result. star
ILoveDividend
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09 Aug 2012, 09:11 AMPost #15
Malaysia Smelting slips into the red

KUALA LUMPUR: The Malaysia Smelting Corporation Bhd
slipped into the red when it recorded a pre-tax loss of RM77.053 million for the second quarter ended June 30, 2012, compared with a pre-tax profit of RM53.348 million recorded in the same quarter last year.

Revenue eased 36.2 per cent to RM543.783 million during the period under review from RM852.627 million registered previously on the back of lower tin prices and volume.

In a filing to Bursa Malaysia, the company said average market tin price for the second quarter fell by 28.7 per cent to US$20,600 per tonne compared with US$28,900 per tonne in the same quarter last year.

Its Indonesian unit, PT Koba Tin, recorded higher operating losses as a result of lower tin prices in the second quarter.



&quot;Units with higher operating costs have ceased operations with consequent 50 per cent fall in PT Koba's production in the second quarter,&quot; it said.

The company also said the Butterworth-based international tin smelting company had a difficult second quarter and incurred a marginal loss due to lower volume and processing of some slow-moving lower grade tin slags.

&quot;The short-term outlook for tin and other commodities is not encouraging due to slower demand in China and other industrial economies compounded by the economic recession in Europe.

&quot;For the group as a whole, the operating environment continues to be difficult and challenging due to weaker demand and lower prices for commodities arising from the prevailing global economic uncertainties including sovereign debt concerns and economic recession in Europe,&quot; it said.
honggimeng
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09 Aug 2012, 12:31 PMPost #16
Malaysia Smelting slips into the red

KUALA LUMPUR: The Malaysia Smelting Corporation B...ILoveDividend @ 09 Aug 2012, 09:11 AM

what is ur opinions for this share? holding or selling?
petracot
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09 Aug 2012, 04:40 PMPost #17
MSC is a pure mining company. Cyclical volatility is the basic nature of this type of operation. Currently, tin price of around USD18,000 per tonne is below average cost of production of around USD22,000. The current market situation is mainly due to lack of demand for tin as result of global economic slowdown. In 2 or 3 years time, when the world economy picks up, tin price could go as high as USD30K to USD40K.

MSC has been in the tin operation for the last 100 over years and will be around for a longtime. If one can hold out this present difficult time, there will be handsome dividend awaiting. By the way, iCapital owns about 2.9 million shares in MSC and I believe they are still holding it.
ILoveDividend
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09 Aug 2012, 05:07 PMPost #18

what is ur opinions for this share? holding or selling?honggimeng @ 09 Aug 2012, 12:31 PM


I didn't own a single share of this stock. I have not study in details so i think i'm not in a good position to advise you. But i never invest in a loss making company because there are too many good share out there, why suffer yourself? unless you have a very solid reason and confident thier business will reconver in the near future. Hope this help. smile
ILoveDividend
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09 Aug 2012, 05:26 PMPost #19
Smelting Corp tumbles on surprise loss

Malaysia Smelting Corp, the world's second-biggest tin producer, tumbled to a two-year low in Kuala Lumpur trading after reporting a second-quarter loss because of a slump in the price of the metal.

The stock sank 6.9 per cent to RM3.50 as of 12:30 p.m. local time, poised for its lowest close since July 7, 2010. That's the second-biggest drop in the 252-member FTSE Bursa Malaysia EMAS Index, which gained 0.2 per cent. The company had a loss of RM46.2 million (US$14.9 million) in the three months ended June 30, compared with a profit of RM36.3 million a year earlier, it said in a statement yesterday.

The loss "caught us by surprise," Jerry Lee and Ng Sem Guan, analysts at OSK Investment Bank Bhd, wrote in a report today.

"Such massive losses were mainly attributed to the 38.5 million-ringgit tin inventory write down due to the plunge in tin prices." They downgraded the stock to neutral from buy, and cut the so-called fair value to RM3.62 from RM5.50.

Tin dropped 30 per cent from this year's high in February to Aug 6 as Europe's sovereign-debt crisis and a slowdown in China cut demand, meeting the common definition of a bear market. About 14 tin producers in Indonesia, the biggest exporter, halted production, the Indonesian Tin Mining Association said on Aug 7.

The drop in tin prices forced Malaysia Smelting to write down its tin slag inventory mainly for its Indonesian unit PT Koba Tin, which has an inventory book value that is significantly lower than the latest tin prices, according to the OSK report.

China's Yunnan Tin Co. was the world's largest tin producer last year with an output of 56,174 tons, according to data compiled by ITRI Ltd in February. Malaysia Smelting Corp ranked second while Indonesia's state-owned PT Timah the third. - Bloomberg

http://www.btimes.com.my/articles/20120809131513/Article/

yeah doh drool lol mad notworthy question rant rolleyes sad shutup shy smile star sweat thumbup wub cry

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