KLSE: ANNJOO (6556)       ANN JOO RESOURCES BHD MAIN : Industrial Products
Last Price Today's Change   Day's Range   Trading Volume
1.18   +0.02 (1.72%)  1.15 - 1.18  391,800
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Market Cap: 683 Million
NOSH: 579 Million
Avg Volume (4 weeks):709,035
4 Weeks Range:1.14 - 1.43
4 Weeks Price Volatility (%):
52 Weeks Range:0.885 - 1.97
52 Weeks Price Volatility (%):
Average Price Target: 1.15
Price Target Upside/Downside: -0.03

Financial Highlight

Latest Quarter | Ann. Date 31-Dec-2022 [#4]  |  27-Feb-2023
Next QR | Est. Ann. Date: 31-Mar-2023  |  27-May-2023
T4Q P/E | EY: -5.15  |  -19.43%
T4Q DY | Payout %: 2.03%  |  - %
T4Q NAPS | P/NAPS: 2.0569  |  0.57
T4Q NP Margin | ROE: -4.39%  |  -11.14%


Date Subject
14-Mar-2023 MQ Market Updates - 14 March 2023
14-Mar-2023 Building Materials - 4QCY22 Results Review: Diverging Fortunes
28-Feb-2023 Ann Joo Resources - Still Waiting for Catalyst
28-Feb-2023 Ann Joo Resources Bhd - Not Out of the Woods
17-Feb-2023 Daily technical highlights – (AEMULUS, ANNJOO)
30-Nov-2022 Ann Joo Resources - Weak Steel Prices Weigh
17-Nov-2022 Steel stocks comparison update - Koon Yew Yin
07-Sep-2022 Building Materials - 2QCY22 Results Review: ASP Disappoints
02-Sep-2022 Daily technical highlights – (ANNJOO, DNEX)
02-Sep-2022 2QCY22 Report Card - A Soft Patch
29-Aug-2022 Ann Joo Resources Bhd - Steel Prices to Remain in Doldrums
10-Aug-2022 Trading Stocks - Ann Joo Resources
22-Jul-2022 Daily technical highlights – (ANNJOO, SEDANIA)
01-Jul-2022 Technical View - Ann Joo Resources Bhd
30-May-2022 Ann Joo Resources Bhd - 1QFY22 Below Expectations
13-Apr-2022 Daily technical highlights – (ANNJOO, MELEWAR)
04-Apr-2022 Building Materials - 2022 Forming Well

Business Background

Ann Joo Resources Bhd is primarily engaged in the manufacturing and trading of steel and steel related products. Business activity of the group is divided into two segments namely Manufacturing and Trading segment. Manufacturing segment consist of manufacturing of iron, steel and steel related products such as billets; mild steel round, angle, round, square, flat, wire rods; and black shafts; and Trading segment is involved in trading of steel products such as carbon steel, stainless steel, hardware products, building and construction materials and it also looks into the operations of steel service centers. Further, the group is also involved in investment holding and property management activity. Geographically, it operates in the region of Malaysia and Singapore.
Analyze this stock with MQ Trader system

  5 people like this.
yong1985cm y today dropped so much?
13/05/2022 2:47 PM
yong1985cm any1 realised the average selling price of the rebar start dropping.
20/05/2022 10:29 AM
learnbyheart dividend received..thank you annjoo
27/05/2022 9:10 AM
learnbyheart what happen to this counter?..macam takde maruah
31/05/2022 11:35 AM
yong1985cm annjoo is in down trend from both TA and FA. the high raw material cost (iron ore, scrap metal, coke coal) no longer can fetch higher ASP. meaning net profit margin going to be slowly reduce until Nil/-ve.
07/06/2022 11:12 AM
king36 Yes, Recession is glaring due to USA's senile President causing disturbance everywhere.
Wonder how low would ANNJOO go?
18/06/2022 8:07 PM
kingJ No worries, cost goes up, selling price also will be adjusted upward
04/07/2022 11:18 AM
yfchong 0.6

06/07/2022 8:57 PM
ironstockhunter 0.7 - 0.8 is more realistic
07/07/2022 3:19 PM
supersinginvestor 70 sen i buy
11/07/2022 4:15 PM
VincentTang China steel price drop 4.11% today.
15/07/2022 9:14 AM
Michael Kwok Buy call ann joo 1.00-rm 1.02.Cut loss by 6 percent or more.
Potential:rm 1.20 above
Time:21/7/2022 12.10 am.
21/07/2022 12:18 AM
imvu hari ni hijau ?
22/07/2022 7:48 AM
Michael Kwok
3 as below;
I)teach some
II)shares review every one or 2 weeks
III)share recommendation or ask to buy or sell share u have.

Sifu Michael(with ang pow picture) in FB.
Charging rm 150 only.
Free one book if stay four month
22/07/2022 10:30 AM
kl_guy annjoo 1stresistance at rm1.44. 2nd resistance at rm1.60.
So can easily hit rm1.40 ..no problem
29/07/2022 11:27 AM
VincentTang Steel price drop today.
02/08/2022 10:18 AM
Superb99 1 day show stock..too bad
03/08/2022 1:38 PM
enlistcapital One Up on Malaysia’s Steel Industry

While there are many well-intentioned contents published on stock forums, some of them are simply based on writers' opinion and understanding may end up become inaccurate or mispresented, so to speak.

That being said, I do not wish to point fingers or lay blames to any parties, and I hope whatever I shared in this article could brighten up our reader’s mind.

To begin with, there are generally two types of steel industries player in Malaysia, namely the manufacturers and/or value add companies, and those who involved mainly in the trading and wholesaling business.

As for the value chain, the photo taken from Bulatlat had presented well on how it works.

06/08/2022 5:00 PM
enlistcapital Generally, Malaysia did not involve much in the iron ore mining industry, as our country’s mineral mining sector recorded a gross output value of MYR3.5 billion, out of which RM1.7 billion is attributable to bauxite and ilmenite mining (2016, Mining and Quarrying Economic Census).

And according to Trading Economics, https://tradingeconomics.com/malaysia/mining-production the mining production in Malaysia had averaged a 0.75% drop from 2011 until 2021. Hence, we do not see much iron mining activities ongoing on Bursa.
06/08/2022 5:01 PM
enlistcapital While investors would generally refer “steel” prices on CNY-based rebar, which is the first search result one could find when you googled “steel prices”, flat steel and value-added products such as hot rolled coil and cold rolled coil data is relatively harder to be found. Hence, there are many misunderstood on the pricing – which is completely understandable especially for those who are new to the market.
You could also see that the application of long steel such as rebar and flat steel are much different.

Understandably, the prices for “steel” are constantly fluctuating alongside with supply and demand.

While many could argue that “steel” prices had went down from its high, the value of construction work done alone in 2022 Q1 in Malaysia had amounted to RM29.5 billion – steel, being one of the key construction materials, is poised to see an increase of demand, and at the current juncture, it is still considerably profitable for steel players in Malaysia.

For manufacturers in Malaysia, they are generally applying to a costs-plus model in terms of factoring their prices. In other words, as long as the management had been keeping a close eye on steel prices and manage their inventories well, the company should remain buoyant against the price fluctuation headwinds, while preparing rigorously for the next upcycle.

For number crunchers, we need to relook at the term “Revenue” , which obviously was made up of 2 aspects for steel companies, namely the volume supplied and selling price of the products.

In weaker steel prices time, the manufacturer or trader could rack up their volume to cover up fixed costs as well as enhance their margins, and during the steel upcycle, they could enjoy both at once. It all comes down to how well the company was managed, especially on the inventory level.

Speaking of which – inventories could make a difference on the profit and loss statement, but for obvious reasons it would depend on when the goods were sold. Do bear in mind, that these inventories are not like your properties, which one could revalue to inflate its bottom line, but instead, it needs to be sold then only its bottom line can be concluded which is always tied back to the timing of sales.

Of course, for slow moving inventories and those inventories which are below its net realisable value, the steel manufacturers and/or traders may even need to impair or setting up an allowance for impairment on the books!

Therefore, I was amazed when investors are touting the idea of steel companies inflating their numbers by not doing anything on their inventories.

However, for investors, it is always about the return on investment. We all know that the stock market generally had a 6-12 months forward nature in pricing and valuation, and that would very well explain the current valuation of the steel companies. Coupled with hampered investors sentiment, there you go, low single digit PE steel companies.

It is wise for investors to normalize the company profit, and to certain extent – try to wait out for a low for companies who managed their cash flow well.

Oh! Speaking of which, cash flow and debt is another commonly debated issue in the steel industry.

I think many investors may understand the basics of working capital, but not the concept of trade financing. You see, in a capital-intensive business, it is sometimes cheaper to raise a super short-term borrowing of 30 to 120 days in order to secure customers and better margins.

This is common that steel industry, or commodities related companies on Bursa had over a great deal of their debt in short-term trade financing, which is lower in financing costs, as it was prorated.

It is just sad to see that investors are injudiciously and blatantly claiming that steel makers would raise borrowings just to pay dividends to attract investors. Dividends are generally approved by the board members while for final dividends, shareholders’ approval need to be sought. The board members which also consists of independent directors must have closely monitor the cash flow of the company before approving it.

So much for saying debt-for-dividend.

I think investors need to be fair in justifying the profit and loss, as well as cash flow movement of any steel companies in Malaysia before crowning an undervalued or overvalued statement over them. It is simply irresponsible.

Remember, what is undervalued now can be overvalued in 6-12 months’ time, and vice-versa.

06/08/2022 5:02 PM
ironstockhunter One Up on Malaysia’s Steel Industry

10/08/2022 3:27 PM
redhotpepper Is this stock worth investing, or it will go down further?
26/08/2022 9:04 PM
ming 近期东南亚螺纹钢交易较为清淡,东南亚主要进口国家需求不佳。来自土耳其的报价在700-710美元/吨FOB左右,但与东南亚其他出口报价相比无竞争优势。来自马来西亚钢厂的实重报价在600美元/吨CFR左右。越南一钢厂螺纹钢出口实重报价640美元/吨FOB左右。

越南市场方面,主导钢铁长材生产商和发集团(Hoa Phat)于8月30日宣布将其国内线材价格上调20万越南盾/吨(9美元/吨),这是自5月以来钢价首次上调。据了解,由于废钢和焦煤等原材料成本高企,钢厂希望通过提高钢铁价格来保持利润。另外,其CB400-V/CB500-V 12-25mm螺纹钢的售价不变,出厂实重价格维持在1450万越南盾/吨(619美元/吨)。
08/09/2022 11:43 PM
imvu 1.060 , hari ni hijau ?
09/09/2022 7:54 AM
UnicornP Annjoo will slowly go down to 40¢
30/09/2022 7:03 PM
UnicornP Posted by UnicornP > 2021-11-22 10:22 | Report Abuse

Is time to wait 40c
30/09/2022 7:08 PM
imvu 0.900 ada dalam area kutip kutip , boleh rebound atas 1.00 ?
04/10/2022 11:00 AM
imvu billionaire !
05/10/2022 4:47 AM
VincentTang China steel price drop to 3685
17/10/2022 8:47 AM
VincentTang China steel price drop again to 3642
18/10/2022 10:18 AM
John Lu China steel price drop drop drop. Now just RMB3523.
28/10/2022 9:10 AM
John Lu Hang Seng big drop now, drop to 52 weeks low. Better sell.
28/10/2022 1:43 PM
ironstockhunter 90 sen seems like a nice level
01/11/2022 11:25 AM
ironstockhunter Remember to jump back in when steel price rebounding
08/11/2022 3:41 PM
KohBC0401 Prices of base metals rose sharply on Friday, as China eased some of its stringent COVID-19 curbs, boosting prospects of demand from the world's top metals consumer.

Investor sentiment was also buoyed by the softer-than-expected U.S. inflation data that bolstered hopes for a less aggressive interest rate hike path by the Federal Reserve.

Three-month copper on the London Metal Exchange rose as much as 3.4%, hitting its highest since June 22. It was up 2.1% at $8,448 a tonne, as of 0749 GMT.
11/11/2022 4:46 PM
KohBC0401 most-traded December copper contract on the Shanghai Futures Exchange climbed 1.5% to 67,630 yuan ($9,515.30) a tonne, its highest in nearly five months
11/11/2022 4:46 PM
KohBC0401 Among other metals, LME aluminium was up 2.7% at $2,389.50 a tonne, zinc rose 4.5% to $3,014 a tonne, tin climbed 4.8% to $21,300 a tonne, and lead gained 1.5% to $2,130 a tonne.

SHFE tin jumped 7.4% to 181,050 yuan a tonne, nickel rose 4.1% to 206,280 yuan a tonne, aluminium gained 1.1% to 18,775 yuan a tonne, and zinc added 1.4% to 23,905 yuan a tonne. - Reuters
11/11/2022 4:47 PM
yong1985cm Quarter loss 1st appeared, BEWARE. the profit down trend jz started.
29/11/2022 6:24 PM
hng33 bought annjoo at 1.07-1.08
01/12/2022 10:53 AM
hng33 Sold back at 1.11
05/12/2022 11:28 AM
yong1985cm how come AJ share price so strong even after big loss in QR?
08/12/2022 6:05 PM
kamcheonghui what is steel bar price now. kyy write some steel stock article for public to read
23/12/2022 4:36 PM
speakup hng33 no buyback?
31/01/2023 3:32 PM
pang72 Hari pertama lawatan industri di Pulau Pinang, kita mulakan dengan lawatan ke Kilang Ann Joo Steel Berhad.

Ann Joo yang dahulunya dikenali sebagai Malayawata Steel Berhad, mula beroperasi sejak 1967, antara kilang keluli terawal dan paling lama di Malaysia. Kini, mereka merupakan antara pengeluar bilet dan produk besi utama di negara.

Kilang ini memperkukuhkan pendekatan berteraskan elemen Persekitaran, Sosial dan Tadbir Urus (ESG) dalam aspek ekonomi sejajar dengan agenda kelestarian dan pertumbuhan hijau. Hibrid proses menggabungkan besi yang telah digunakan (besi buruk) dan besi baharu untuk menghasilkan besi yang boleh digunakan semula.

Saya faham bahawa industri besi dan keluli di Malaysia telah melalui tempoh yang sukar semasa wabak COVID-19. Saya memuji industri atas ketabahan anda dalam mengharungi cabaran dan komitmen untuk memastikan perniagaan terus berkembang maju, sekaligus mencipta peluang pekerjaan untuk rakyat.
04/02/2023 1:07 PM
pang72 From Tengku Zafrul!!
04/02/2023 1:08 PM
thundery Bye Bye
24/02/2023 3:23 PM
VincentTang Higher electricity tariffs will impact MSC and steel companies earning. Better avoid this first.
26/02/2023 11:23 PM
Malaysia steel continue loss making, elevated cost input and weak demand.

China now on expansion mode to increase steel capacity to match local demand therefore unlikely to repeat historical steel price now. China is now in better control to curb inflation rate due to commodity price hike

Annjoo Steel headwind - huge debt burden, spike high finance cost, elevated cost operation, weak demand
27/02/2023 9:15 PM
VincentTang Annjoo qr and prospect also not good. Better avoid annjoo.
27/02/2023 11:45 PM
tksw impairment of inventory write back means steel prices go up back.
28/02/2023 3:03 PM

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