Hot Stock Masteel falls 20% after trading resumes

by **Cals** Fri 10 Jul 2015, 17:59

Hot Stock
Masteel falls 20% after trading resumes

[You must be registered and logged in to see this image.]

By Chester Tay / theedgemarkets.com | July 10, 2015 : 10:44 AM MYT

[size=14]KUALA LUMPUR (July 10): [size=14]Malaysia Steel Works (KL) Bhd (Masteel) ([You must be registered and logged in to see this image.] Financial Dashboard) fell as much as 12 sen or 19% after its share trade resumed today following an almost two-month suspension. Trading resumed after the company said it submitted its outstanding financial statements and annual report to regulators.
Trading of Masteel (fundamental: 0.15; valuation: 0.9) shares was suspended since May 12 this year after the company failed to submit its latest annual audited accounts by April 30. The counter was last traded at 62 sen on May 11.
Today, Masteel shares fell to its lowest so far today at 50 sen. At 10:07am, the counter pared losses at 55.5 sen for a market capitalisation of RM134.2 million.
Masteel saw some six million shares done.
Yesterday, Masteel announced it had submitted its outstanding annual audited accounts and annual report for financial year ended December 31, 2014. The company said it had also submitted its financials for the first quarter ended March 31, 2015.
The company said it submitted the documents between June 19 this year and yesterday (July 9).
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)[/size]

[/size]