2010年OSK对LTKM玻璃业的报告

Setting up a glass processing plant. In a Bursa announcement on July 6, 2009, LTKM said it would be diversifying its core business in the poultry industry to processed glass (Lumiglass) with an initial investment of RM15m, which includes the cost of machinery, equipment, warehousing facility and general plant refurbishment. LTKM will manufacture four types of processed glass namely tempered, laminated, double glazing and various security glass. The glass processing plant will be located in Sungai Rasah, Klang and will take 9 months to complete. As such, the plant will only be fully operational in early 2010. Soothing concerns. To get a better understanding of the new business, we visited LTKM on Friday, July 17, ‘09 and sought management clarification on the new glass venture, Lumiglass SB. Management believes architectural glass offers a timely opportunity and is fast being used in the building and construction as well as other industries due to the heat-resistant, heat-insulation, security and crime-prevention features of glass. Lumiglass will be in full production by end-2010. It will start manufacturing tempered and laminated glass in March 2010 followed by crime prevention security glass (via subsidiary, Lumi Secuglass SB) in August 2010 after obtaining certification. Lumiglass will be involved only in double glazing and solar glass later on.

Industry experts oversee production. LTKM has hired a group of experienced personnel to help manage Lumiglass. Mr. Mohan Menon who has approximately 30 years of experience in the industry, was put in charge of production. Mohan, who was also involved in the development of the patented Armorglass, worked in NSG (Nippon Sheet Glass) for several years. Nippon Sheet Glass is one of the four most prominent glass manufacturers in the world. He was recruited by Lumiglass for his knowledge in developing the lamination technology to polycarbonate with the interlayer of PU resin and EVA lamination, which is a better alternative to ordinary glass and glass lamination. Mohan is also seeking to patent his glass technology with Lumiglass. Meanwhile, Mr. Alexander Akguel will be responsible for the development, design, operation, and improvement of Lumiglass’ production systems. He has been in the industry for 25 years, starting from being a glassproduction operator to a general manager in Germany to setting up one of the most advanced glass factories in Dubai. With such experts to ensure smooth operation and production efficiency, we believe the new venture may hold potential growth for LTKM in the long term.

Technology to bring LTKM forward. As there are only a few glass players in Malaysia, Lumiglass may be able to capture market share by employing state-of-the-art technology from glass processing pioneer Glaston Finland. LTKM will buy glass processing machines from Glaston, which will also provide the after sales services as well as software to allow for full integration of the entire production process, from inter-operability of machines to controlling materials and workflow, and managing sales. This is aimed at optimising the entire production process.

Innovative products. Lumiglass also has the technology to the manufacture crime prevention security glass, which is more competitive than products such as PVB films, PU film and Acrylic sheet due to its lighter, thinner and clearer glass features. As tempered glass commands a high gross profit margin of approximately 70%-80%, we reckon that this venture may be rewarding for LTKM as a group should the venture be successful.

Workers may not cope with advanced technology. Although Lumiglass will be adopting one of the advanced technologies in glass making, there is a concern as to whether its workers would be able to cope with the new technology. As the existing industry players are currently not using the latest technology employed by Lumiglass, the workers may take time to relearn the new technology. It is hoped that the expertise employed by Lumiglass will be able to smoothen the process given their experience in Germany and Dubai. Capturing a sizeable market. As Lumiglass is still new in the market, there may be concerns with regard to its ability to capture a sizeable market share. Most of the industry players already have a network of contacts to keep their job flowing. Hence, we believe it is important for Lumiglass to establish a good relationship with potential clients, i.e. architects, contractors or developers. Nonetheless, we believe this should not be a problem given that Lumiglass’ managers, with their industry experience, would have a network of their own. Furthermore, as management has assured, the glass industry is large enough to absorb all the market players as they will form strategic alliances among themselves in order to benefit from the overall glass market. Risks noted and mitigating action put into place. Although we have noted two key risks, management has put in place the right technical know-how and on-the-ground experience by Mohan Menon and Alex Akguel as well as Mr. Michael Tan’s passion and effort to ensure the success of the new venture.

LTKM 3月派息5%

Company Name:LTKM BERHAD
Stock Name :LTKM
Date Announced:02/03/2011
EX-date:29/03/2011
Entitlement date:31/03/2011
Entitlement time:04:00:00 PM
Entitlement subject:Interim Dividend
Entitlement description:Single Tier Interim Dividend of 5%
Period of interest payment:to Financial Year End:31/03/2011
Share transfer book & register of members will be :to closed from (both dates inclusive) for the purpose of determining the entitlements
Registrar's name ,address, telephone no:Tricor Investor Services Sdn. Bhd.(Formerly known as Tenaga Koperat Sdn. Bhd.)Level 17, The Gardens North TowerMid Valley CityLingkaran Syed Putra59200 Kuala LumpurTel: 03-22643883
Payment date :14/04/2011

a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers:31/03/2011
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit:
c.Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable):
Entitlement indicator:Percentage
Entitlement in percentage (%):5

2011年2月投资简介

1.ltkm (30.41%)
2.masteel (18.69%)
3.gold （4.54%）
4.forex (0.20%)
5.cash （11.67%）
6.others (34.49%)


2009年1月开始至今投资资本市值净赚10.28%
2011年市值净0.92%
更新日期：28-02-2011

鋼鐵價揚‧營收破10億‧馬鋼廠全年轉虧為盈

吉隆坡24日訊）歸功於需求增加和高鋼鐵價，馬來西亞鋼廠（MASTEEL, 5098, 主板工業產品組）截至2010年12月31日止財政年成功轉虧為盈，錄得高達2千817萬6千令吉淨利，前期為淨虧損809萬2千令吉，全年營業額更是突破10億令吉關口，按年增長46.2%至10億零478萬5千令吉。
以第四季論，馬來西亞鋼廠淨利下滑15.08%至899萬令吉，前期為1千零58萬6千令吉，營業額為2億9千197萬7千令吉，比前期的1億9千168萬6千令吉上揚52.32%。
公司董事經理兼首席執行員拿督斯里戴賢龍表示，10億令吉銷售不僅是集團歷史里程碑，更反映集團創建40年來的營運效益。
“我們的電弧爐（Electric arc furnace）採用廢鐵為主要原料，鋼鐵製造業務並未受鐵礦沙和焦煤價格高漲影響，加上預期全球市場復甦將提高鋼筋和鋼坯需求，對未來應成長動力延續感到樂觀。”

http://biz.sinchew-i.com/node/44251

2011年1月投资简介

1.ltkm (30.06%)
2.masteel (20.00%)
3.jotech-wa (0.83%)
4.gold （4.32%）
5.forex (0.20%)
6.cash （11.80%）
7.others (32.79%)

2009年1月开始至今投资资本市值净赚13.32%
2011年市值净0.42%
更新日期：31-01-2011

2011年的目标

今年的是个大牛市的年，股市都处于高峰，虽说是个机会，也存在着随时崩盘的风险。
这里来总结一下：
2009年：66.67%
2010年：10.88%
2011年1月：1.47%
2006年至今：12.52%

在这里我把今年的目标放在15%，至于我的3年开番目标，今年只要达到8.66%就可达成，祝我好运咯。

12月份投资概要

1.ltkm (36.46%)
2.masteel (20.07%)
3.jotech-wa (0.96%)
4.gold （5.28%）
5.forex (0.24%)
6.cash （11.41%）
7.others (25.85%)

2009年1月开始至今投资资本市值净赚13.32%
2010年市值净11.12%
更新日期：31-12-2010

新年快乐

新年快乐