Company Overview and News

 
HLIB Research starts coverage on Ann Joo, target price RM1.82

2018-10-16 theedgemarkets
KUALA LUMPUR (Oct 16): Hong Leong IB Research has initiated coverage on Ann Joo Resources at RM1.65 with a “Hold’ rating and target price of RM1.82 and said Ann Joo is the largest steel counter listed on Bursa and is often regarded as one of the lowest cost producers of long products in the steel industry.
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Steel still in demand

2018-10-05 thestar.com.my
The steel industry, being one of the main arteries of the industrial age continues to be in demand till this very day given the metal’s widespread usage in various other industries.
5665 7020 6556 5098

 
KLCI seen extending consolidation, firm crude oil price to offer respite

2018-09-26 theedgemarkets
KUALA LUMPUR (Sept 26): The FBM KLCI is expected to continue its consolidation phase and hover below the 1,800-point level but may find some respite from high crude oil prices.
1201 5016 6556 7668 5219 4405 6874 2143 5189

 
KLCI seen extending consolidation, firm crude oil to offer respite

2018-09-25 theedgemarkets
KUALA LUMPUR (Sept 26): The FBM KLCI is expected to continue its consolidation phase and hover below the 1,800-point level but may find some respite from high crude oil prices.
1201 5016 6556 7668 5219 4405 6874 2143 5189

 
Sapura Energy, ECM Libra, Hai-O, Velesto, Maxwell, Deleum, Pestech, OpenSys, Sumatec, KUB, V.S. Industry, Ann Joo, Maybulk, Tan Chong Motor and Warisan TC Holdings

2018-09-25 theedgemarkets
KUALA LUMPUR (Sept 25): Based on corporate announcements and news flow today, companies in focus on Wednesday (Sept 26) may include: Sapura Energy Bhd, ECM Libra Financial Group Bhd, Hai-O Enterprise Bhd, Velesto Energy Bhd, Maxwell International Holdings Bhd, Deleum Bhd, Pestech International Bhd, OpenSys (M) Bhd, Sumatec Resources Bhd, KUB Malaysia Bhd, V.S. Industry Bhd, Ann Joo Resources Bhd, Malayan Bulk Carriers Bhd (Maybulk), Tan Chong Motor Holdings Bhd and Warisan TC Holdings Bhd
PBLOF 6874 1295 2143 5189 1201 5016 6556 7668 5219 4405 BSMAF 1818

 
Ann Joo gets additional RM25m award on arbitration against China blast furnace supplier

2018-09-25 theedgemarkets
KUALA LUMPUR (Sept 25): Ann Joo Resources Bhd received additional award of RM25.21 million from an arbitration against the group's China-based blast furnace supplier.
6556 BSMAF 1818

 
Ann Joo 2Q net profit down 28%, pays 6 sen dividend

2018-08-27 theedgemarkets
KUALA LUMPUR (Aug 27): Ann Joo Resources Bhd saw a 27.7% decline in net profit to RM20.7 million for its second quarter ended June 30, 2018 (2QFY18) from RM28.62 million a year ago, notwithstanding higher revenue recorded.
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KLCI holds on to marginal gains as Petronas-linked stocks lift

2018-08-15 theedgemarkets
KUALA LUMPUR (Aug 15): The FBM KLCI held on to its marginal gains at mid-morning today, despite the retreat at most regional markets, propped up by Petronas-linked stocks.
APEXF 5161 7090 0090 7192 8621 5681 JCYBF BATS 4162 7034 6033 5101 PNADF 3301 5797 6556 5819 PNAGF

 
Ann Joo’s FY18 profit seen better on stable sales, higher margins

2018-08-14 theedgemarkets
Ann Joo Resources Bhd (Aug 13, RM2.08) Maintain buy with a target price (TP) of RM2.60: Ann Joo Resources Bhd’s share price has fallen 46% year to date due to the implementation of the US steel import tariff, the review of local megaprojects and the electricity tariff hike. We lower our financial year ending Dec 31, 2018 estimated (FY18E) to FY20E earnings per share (EPS) by 3% to 13% on our expectations of weaker local demand in the second half of 2018 (2H18) and higher electricity cost from 2H18.
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More headwinds for Malaysian steel sector

2018-08-14 thestar.com.my
Downtrend: An Ann Joo Resources steel facility. Maybank IB, in a report on Ann Joo Resources, noted that the steel company’s share price had fallen 46 year-to-date
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Steel sector to be hit by more global headwinds, says MIDF Research

2018-08-13 theedgemarkets
KUALA LUMPUR (Aug 13): Malaysia's steel sector is likely to experience further headwinds, as global demand is likely to be further hit by shaky demand from China's waning construction sector, in addition to risks from trade war tariffs, said MIDF Amanah Investment Bank Bhd Research.
5797 5665 6556 5094 5087 9199

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KLCI to trade range bound, move between 1,790 – 1,800

2018-08-01 theedgemarkets
KUALA LUMPUR (Aug 2): The FBM KLCI is expected to trade range bound today within a tight band of between 1,790 – 1,800.
5216 5754 6556 AAPL 5088 8117 0098 5254

 
DRB-Hicom, Malakoff, Bahvest, Boustead Plantations, LKL, MHB, Ann Joo, Utusan, Poly Glass Fibre, Datasonic, Apex Equity and AirAsia

2018-08-01 theedgemarkets
KUALA LUMPUR (Aug 1): Based on corporate announcements and news flow today, companies in focus on Thursday (Aug 2) may include: DRB-Hicom Bhd, Malakoff Corp Bhd, Borneo Aqua Harvest Bhd, Boustead Plantations Bhd, LKL International Bhd, Malaysia Marine and Heavy Engineering Holdings Bhd, Ann Joo Resources Bhd, Utusan Melayu (Malaysia) Bhd, Poly Glass Fibre (M) Bhd, Datasonic Group Bhd, Apex Equity Holdings Bhd and AirAsia Group Bhd.
5216 5754 6556 5088 MYPRY 8117 5014 0098 5254

 
No gain from Ann Joo’s arbitration against China steelmaker

2018-08-01 theedgemarkets
KUALA LUMPUR (Aug 1): Ann Joo Resources Bhd has been ordered by the Arbitration Tribunal in China to pay a remaining sum of US$3.16 million under a contract with a Chinese steelmaker, following a two-year legal battle involving claims and counter-claims by the two companies.
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Ongoing projects, export sales seen to sustain Ann Joo’s profit

2018-07-24 theedgemarkets
Ann Joo Resources Bhd (July 23, RM2.02) Maintain hold with a fair value (FV) of RM2.17: We cut our FY18-20 net profit forecasts by 11%, 13% and 31% respectively, reduced our FV by 20% to RM2.17 (from RM2.70), but maintained our “hold” call.
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