MSC has just announced its results for QE31/3/2010. It reported a net loss of RM29.1 million due to impairment provision of RM48 million on investment, comprising RM41 million from the investment in BCD Resources NL and RM7 million for loans granted to a JV company, Guilin Hinwei Tin Co.
If the impairment provision is excluded, MSC would report a pre-tax profit of RM28 million as compared to a pre-tax profit of RM25 million for QE31/12/2009 or a pre-tax loss of RM9 million for QE31/3/2009.
Table: MSC's last 8 quarterly results
Chart 1: MSC's 17 quarterly results
Technical Outlook
MSC is still forming a base with short-term uptrend line support at RM3.20.
Chart 2: MSC's weekly chart as at May 10, 2010 (Source: Tradesignum)
Conclusion
Based on the improving operating results & better prices for commodities in general & tin in particular, I believe MSC could be a good stock for long-term investment.
No comments:
Post a Comment