ANNJOO (6556) 安裕资源 - [ANNJOO 6556] 近期的剪报与要闻

自从2017年11月的市场震荡后,最近的股市都 have a good run
其中比较显著的主题由 炼油 , 钢铁 , 官联GLC ,中资等等。
本文主要涵盖这只被众多投行列为建材领域首要投资,但股价却迟迟未破茧而出的 ANNJOO

摘录于 TheEdge  2/1/2018

此文章是 TheEdge记者访问ANNJOO 董事经理 Dato Lim 的摘要,主要询问了2018年首季开始 天然气的涨价对长钢厂家所带来的影响和今年的展望。
整体来说,电弧炉业者 (electric arc furnace operator) 所承受的压力会来得比 高-电混合炉业者(blast furnace- electric arc furnace hybrid operator) 来得高一些。这是因为在生产长钢产品的过程中,钢胚(电炉和高炉的产物)需要用到天然气加热来进行 rolling (轧钢)然后才可以制成 钢筋(reinforcement bar) 或者线材 (wire rod)
然而,由于ANNJOO使用的是混合炉,有了这个技术,它可以利用混合炉所产生的热气(blast furnace gas)直接来加热进行轧钢,大量减少对天然气的依赖。
当被询问 2018年钢铁业是否会是好年的时候,DatoLim的回复是“ 这取决于几个因素,比如天然气的价格,原料价格,电费,成本转移能力和区域性的需求”
DatoLim 还强调大马地理位置佳,对于出口至东南亚各国有较好的优势。
此文章其他的内容则是摘录了国内其他投行比如 TA, AmInvest, AffinHwang的头儿对钢铁领域的看法和观点。

另一个则是较早前 NIKKEI ASIAN REVIEW 访问DatoLim的文章
December 22, 2017 4:09 pm JST

INTERVIEW: Ann Joo To Raise Steel Output 21% In 2018 On Higher Orders-Managing Director

  By Alexander Winifred
Nikkei Markets
  KUALA LUMPUR (Dec 22) -- Ann Joo Resources, Malaysia's largest steelmaker by market capitalization, plans to raise production by 21% to meet increasing demand from domestic infrastructure projects, its managing director said.
The company aims to produce up to 850,000 tons of steel in 2018, up from lower-than-700,000 tons in 2017 and 2016, Lim Hong Thye told Nikkei Markets. The increase in output could lift annual revenue by more than 20% if steel prices remain at current levels, he said.
"Next year, demand should pick up" after orders came in weaker-than-expected in 2017, Lim said. "This month, we can already see orders coming in pretty strongly."
Malaysia is embarking on a slew of infrastructure projects, including expansion of the mass rapid transit network and new constructions ranging from airports to expressways. The Southeast Asian nation also plans to build East Coast Rail Line, its largest railway project to-date at 55 billion ringgit.
Steel prices meanwhile have rallied as China's effort to combat pollution and curb poorer quality steel products helped in trimming supplies to the market. China's net exports of steel products could fall to 63 million tons in 2018 from around 100 million tons in 2016, according to official forecast.
Malaysian steel bar prices rose 31% on-year to 2,324 ringgit ($570.94) per ton in the third quarter ended Sep. 30 and have since added another 300 ringgit as of Dec., Lim said.
"The price of steel will only get higher if China continues its curb on steel production, in addition to the pick-up in domestic demand," Lim said.
Ann Joo is currently eyeing potential acquisitions within South-east Asia as part of its plan to expand internationally by 2020, Lim said. The company may initially invest up to 100 million ringgit to establish an overseas venture, he said.
"I see huge potential in Indonesia, which has a population of 300 million people, which could translate to 50 million tons of extra demand (every year)," Lim said. "There are already a number of existing electric-arc furnaces and rolling mills there."
Net profit in the third quarter has more-than-doubled to 47.24 million ringgit ($11.47 million) from 22.92 million ringgit a year earlier. Quarterly revenue increased 83.8% year-on-year to 595.15 million ringgit from 323.73 million ringgit, mainly due to higher selling prices of steel.
刚开始文章一针见血的表明了 ANNJOO在2018年会提升产量21%的意愿来应付本地需求。
这个21%诠释了ANNJOO会带来额外的每年 150,000 吨产量 , 同时,如果钢筋价格保持在目前的位置,便能如期增加 20%的营业额。
对于2018,DatoLim 预测说 “2018 需求会提升, 2017年的需求是比早前预测的还来得疲弱, 这个月(12月) 我们已经看到强劲的订单”
他表示,第三季度的钢筋价格 平均每吨 RM 2324 , 在这个12月,目前的价格是每吨大约 RM 2624
此外,ANNJOO也有个扩张目标,也就是在2020年之前,计划投资RM 100 mil 要收购/联营东南亚的一些相关企业,尤其是人口数量高达300 mil的印尼,预计钢铁需求每年50mil 吨。