【ANNJOO 6556 交流专区】安裕资源

icy97

EX-date	08 Dec 2017
Entitlement date	12 Dec 2017
Entitlement time	05:00 PM
Entitlement subject	Others
Entitlement description	Semi-annual dividend of 1.25 sen per Redeemable Convertible Cumulative Preference Share in respect of the financial year ending 31 December 2017.
Period of interest payment	to
Financial Year End	31 Dec 2017
Share transfer book & register of members will be	to   closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no	SYMPHONY SHARE REGISTRARS SDN BHDLevel 6, Symphony HousePusat Dagangan Dana 1Jalan PJU 1A/4647301 Petaling JayaSelangor Darul EhsanTel:0378490777Fax:0378418151
Payment date	21 Dec 2017
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	12 Dec 2017
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	Currency
Currency	Malaysian Ringgit (MYR)
Entitlement in Currency	0.0125

icy97

安裕资源
末季业绩看涨

2017年11月28日

分析:肯纳格投行
目标价：4.70令吉

最新进展

安裕资源（ANNJOO，6556，主板工业产品股）截至9月杪第三季，净利按年涨1.1倍，至4723万7000令吉或每股9.28仙；同时宣布派发每股1.25仙股息。

第三季营业额年涨83.8%至5亿9514万9000令吉。营收双双提高，归功于多个基础建设进度改善，对钢铁需求增加，加上旗下钢铁产品售价提高。

累计首9个月，净利为1亿4985万6000令吉，年涨24%；营业额报15亿8506万5000令吉，年升13.4%。

行家建议

安裕资源首九个月核心净利达1亿5000万令吉，表现大致符合预期，占我们和市场预测的69%和71%。

我们预计，末季业绩表现料出色，因为热轧混凝土钢筋条平均售价看涨，但原料成本走低。

展望未来，我们认为，2016财年颁出的基建项目重拾动力，料能继续推动本地钢价超过每吨2000令吉。

此外，由于我国已实施防卫税和现有进口税，加上因为中国政府支持减产和增加基建支出，进而推高中国钢价至每吨约2700令吉（目前水平），因此，中期内无需担忧中国廉价产品进口的威胁。



【e南洋】

icy97

安裕资源
钢材需求前景唱好

2018年1月19日

分析:大马研究
目标价：4.34令吉

最新进展

安裕资源（ANNJOO，6556，主板工业产品股）近期股价下滑，主要因为中国钢价下跌。

由于比较基础高，今年1月中国钢价按月跌了约20%，去年12月为每吨3000令吉。

目前，中国钢价徘徊在每吨2500令吉。

行家建议我们依旧认为，中国的钢材价格不会从现有水平进一步下跌，因为中国本地需求依然强劲，加上钢材行业进一步改革，将减少钢产量。

我们保持混合钢的平均售价，即2017和2018财年每吨平均售价，分别为2000令吉和2140令吉，而2019财年为2250令吉。

同时，受到本地对钢材需求强劲推动，尤其是大型基础建设项目，预计2017产量增幅达3%，2018和2019财年增幅同样是5%。

我们重申“买入”评级，及维持目标价4.34令吉，并偏好安裕资源在本地钢市场的优势地位，看好20%市占率、国际市场钢价持稳、基建项目推动本地需求提升，及生产成本优化，比竞争对手取得更好赚幅。

此外，向进口钢材征收保护关税，将进一步提振本地钢价。



【e南洋】

哭哭鸟

安裕资源 ANNJOO – 踏上尾班车的最后机会

1. 本地钢铁需求

本地市占率20%；数据显示，本地四大长钢生产商的总产能为8.5m吨，而大马每年钢铁消费量则约为10m吨。

在2013年之前，大马的钢铁消耗量只有40%来自本地制造，另外60%来自进口的廉价钢铁。然而，由于中国在过去两年对钢铁行业进行结构性改革，这导致大马供给架构产生变化。目前，本地的钢铁消耗几乎100%向本地业者采购，而大部分将由本地四大长钢生产商分担。

2. 基建项目推动

以下是未来一至两年即将动工的基建项目：
> 马新高铁KL-Singapore high-speed rail (“HSR”) – RM60b
> 东海岸铁路East Coast Rail Link (“ECRL”) – RM55b
> MRT 2 - RM32b
> 泛婆大道 Pan Borneo Sarawak Highway – RM16b
> LRT 3 – RM12b
> 双轨火车Gemas-Johor Bahru electrified double-tracking railway – RM9b
> 大型产业发展，如 Tun Razak Exchange和 KL118

据了解，基建项目消耗的钢铁仅占总需求的35%左右，其余65%需求则来自产业开发。因此，房地产领域的放缓可能将影响钢铁的需求。

尽管如此，由于中国钢铁进口量已大幅度减少，本地长钢生产商预计将逐渐提升产量，以弥补留下的供应缺口和应付本地的需求。

3. 天然气涨价

今年1月起，政府宣布调涨大马半岛的天然气价格约23%。在过去年4年，本地天然气价格已前后上调6次，从每MMBtu (百万热能单位) RM16.07增至 RM32.52，涨幅高达102%。然而，对于ANNJOO之前的业绩表现却影响不大。

电力与天然气是钢铁生产第二高成本组合。普遍上，使用电炉生产的每吨钢筋消耗大约2.5MMBtu天然气。

天然气价格近期的上涨对每个钢铁业者的影响可能会不一样。每个生产商的成本转嫁给消费者的能力将倍受考验，并决定赚幅能否继续维持在之前的水平。

至于ANNJOO，通过使用热金属充电技术减少用电，以及使用高炉技术产生的废气 (Blast Furnace Gas) 为燃料能源，集团可大幅度减少天然气的消耗量。

4. 钢筋/螺纹钢价格

本地钢筋价格在去年Q4从每吨RM2,300上涨至RM2,740，相等于19%的涨幅 (参考附图)。整体而言，Q4的平均比Q3高出约8%。值得一提，钢筋价格在2016下半年仅徘徊于每吨RM1,900-2,000之间。

另一方面，政府在去年宣布对进口的钢条和钢筋征收保护税 (Safeguard Duties)，为期三年。随着保护税的落实，中国钢铁进口量将大幅度下降，未来几年预计不会出现大幅度下滑的情况。

5. 2018扩展计划

ANNJOO计划在2018年将产能从每年700,000吨提升至850,000吨，相等于21%的增幅。假设钢铁价格维持在每吨RM2,600左右，集团的年收入有望增长逾RM390m或 20%。

根据董事经理Dato’ Lim，虽然去年的订单低于预期，但是本地需求在去年杪有所回升，而ANNJOO已陆续获得强劲的订单。

6. 估值吸引

截至1/23，本地钢筋价格依然维持在高位，处于每吨RM2,630左右。由于去年Q4的平均销售价比Q3高出约8%，ANNJOO如无意外可至少交出RM50m的核心盈利，优于Q3的RM47m。

2月公布的Q4业绩预计将宣布派发高达10仙的股息，全年股息可达16仙，相等于4.6%左右的股息率。

本地3家投行分别给予RM4.30-4.70之间的目标价。

RH Research

icy97

安裕末季净利扬21%．派息13仙

（吉隆坡23日讯）安裕资源（ANNJOO,6556,主板工业产品组）受惠于赚幅提高，截至2017年12月31日第四季净利走扬20.85%，至5552万令吉，比较前期为4594万令吉，累积全年净利也由前期的1亿6677万5000令吉增加23.15%，至2亿零537万6000令吉。

安裕资源也因为钢铁销售价跟随国际钢铁价格走扬而提高，第四季营业额增加29.23%，至6亿1014万7000令吉；全年营业额也获推高17.39%，至21亿9521万2000令吉。

该公也宣布派发每股13仙股息，除权日落在4月19日，享有日为4月23日。

安裕资源透过文告指出，中短期而言，乐观看待该公司的业务和钢铁领域前景，主要是因为中国计划减少钢铁生产、国际和区域对钢铁需求走扬、国内因为建筑活动增加，而对钢铁需求增加和美国潜在进口钢铁。

该公司指出，受惠于上述因素和加强营运效率下，公司在2018财政年料可维持满意的表现。

文章来源：
星洲日报／财经‧2018.02.24

SUMMARY OF KEY FINANCIAL INFORMATION 31 Dec 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Dec 2017	31 Dec 2016	31 Dec 2017	31 Dec 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	610,147	472,136	2,195,212	1,870,050
2	Profit/(loss) before tax	60,279	59,595	252,853	202,128
3	Profit/(loss) for the period	55,520	45,940	205,376	166,775
4	Profit/(loss) attributable to ordinary equity holders of the parent	55,520	45,940	205,376	166,775
5	Basic earnings/(loss) per share (Subunit)	10.82	9.18	40.52	33.32
6	Proposed/Declared dividend per share (Subunit)	13.00	9.00	21.50	15.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	2.3800		2.1300

icy97

EX-date	19 Apr 2018
Entitlement date	23 Apr 2018
Entitlement time	05:00 PM
Entitlement subject	Interim Dividend
Entitlement description	An interim single-tier dividend of 13 sen per ordinary share in respect of the financial year ended 31 December 2017.
Period of interest payment	to
Financial Year End	31 Dec 2017
Share transfer book & register of members will be	to   closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no	SYMPHONY SHARE REGISTRARS SDN BHDLevel 6, Symphony HousePusat Dagangan Dana 1Jalan PJU 1A/4647301 Petaling JayaSelangor Tel:0378490777Fax:0378418151
Payment date	21 May 2018
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	23 Apr 2018
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	Currency
Currency	Malaysian Ringgit (MYR)
Entitlement in Currency	0.13

icy97

ANN JOO RESOURCES BERHAD

1. Details of Corporate Proposal
Involve issuance of new type/class of securities ?	No
Types of corporate proposal	Conversion of Preference Shares
Details of corporate proposal	Conversion of Redeemable Convertible Cumulative Preference Shares (RCPS) into ordinary shares of the Company (Conversion Shares)
No. of shares issued under this corporate proposal	8,022,350
Issue price per share ($$)	Malaysian Ringgit (MYR)   1.8000
Par Value($$) (if applicable)	0.000
Latest issued share capital after the above corporate proposal in the following
Units	554,875,439
Issued Share Capital ($$)	Malaysian Ringgit (MYR) 554,875,439.000
Listing Date	17 Apr 2018

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31 Mar 2018

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Mar 2018	31 Mar 2017	31 Mar 2018	31 Mar 2017
		$$'000	$$'000	$$'000	$$'000

1	Revenue	589,064	499,170	589,064	499,170
2	Profit/(loss) before tax	82,721	98,662	82,721	98,662
3	Profit/(loss) for the period	61,445	74,000	61,445	74,000
4	Profit/(loss) attributable to ordinary equity holders of the parent	61,445	74,000	61,445	74,000
5	Basic earnings/(loss) per share (Subunit)	11.88	14.77	11.88	14.77
6	Proposed/Declared dividend per share (Subunit)	1.25	1.25	1.25	1.25
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	2.4900		2.3800

icy97

EX-date	08 Jun 2018
Entitlement date	12 Jun 2018
Entitlement time	05:00 PM
Entitlement subject	Others
Entitlement description	first semi-annual dividend of 1.25 sen per Redeemable Convertible Cumulative Preference Share in respect of the financial year ending 31 December 2018.
Period of interest payment	to
Financial Year End	31 Dec 2018
Share transfer book & register of members will be	to   closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no	SYMPHONY SHARE REGISTRARS SDN BHDLevel 6, Symphony HousePusat Dagangan Dana 1Jalan PJU 1A/4647301 Petaling JayaSelangor Darul EhsanTel:0378490777Fax:0378418151
Payment date	21 Jun 2018
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	12 Jun 2018
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	Currency
Currency	Malaysian Ringgit (MYR)
Entitlement in Currency	0.0125

icy97

icy97

icy97

Type	Announcement
Subject	MATERIAL LITIGATION
Description	ANN JOO RESOURCES BERHAD ("ANN JOO" OR "COMPANY") - IN THE MATTER OF ARBITRATION BETWEEN ANN JOO INTEGRATED STEEL SDN BHD AND TANGSHAN IRON & STEEL INTERNATIONAL ENGINEERING TECHNOLOGY CO., LTD.
Reference is made to the announcement dated 23 August 2016 and 28 October 2016 in relation to the Company’s wholly-owned subsidiary, Ann Joo Integrated Steel Sdn Bhd’s (“AJIS”) arbitration against Tangshan Iron & Steel International Engineering Technology Co. Ltd [previously known as Tangshan Iron & Steel Design & Research Institute Co., Ltd (“Tangshan” or “Respondent”)] in relation to the Contract dated 15 January 2008 (“Contract”) for the project to “Design, Supply, Install, Construct, Supervise, Train, Test and Commission a Blast Furnace Complex comprising Blast Furnace and Auxiliaries, a Sinter Plant and a Raw Material Yard”. The Board of Directors of Ann Joo wishes to inform that the Arbitral Tribunal, vide the Final Award, declared, awarded, ordered and directed as follows : (A) the Respondent shall forthwith pay to AJIS the following sums:       (i)  RM4,278,300 for failing to complete four items of Works under the Contract;       (ii) US$523,738 for spare parts not supplied; and      (iii) US$22,231.75 (being 50% of the total amount of disbursements and expenses paid by AJIS for fees and other services to Maxwell Chambers, Singapore and fees for transcription services). (B) AJIS shall forthwith pay to the Respondent the following sums:       (i) RMB1,357,322.38 for servicing the Performance Bond and any additional sums paid by or due from the Respondent to maintain the Performance Bond up to the date of its release; and      (ii) US$3,156,800 for the remaining sum payable under the Contract. (C) AJIS and the Respondent shall be entitled to be paid interest on the amounts of the respective awards at 4% per annum for US$ and 6% for RM from the date of first Notice of Arbitration, i.e., 28 February 2014 until the date of payment, except that interest on the bond fees paid or payable by the Respondent to maintain the Performance Bond shall accrue from the dates on which the bond fees were paid. (D) The cost of arbitration shall be borne by each party equally. (E) The Parties are entitled to set-off the total sums, including interest, awarded to them under this Award. (F) All other claims and counterclaims are hereby dismissed. Upon considering all the amounts allowed by the Tribunal to both parties under the Final Award, the net principal sum payable by AJIS to Respondent is actually part of the balance payable to the Respondent for completion of the works under the Contract and thus, is within and not more than the original Contract price. The positive impact of the Final Award to Ann Joo Group is not expected to have a material effect on its earnings and net assets for the financial year ending 31 December 2018. The Company is still seeking its solicitors’ advice on the Final Award and legal options.  Further announcement on any material development will be made in due course. This announcement is dated 1 August 2018.

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 30 Jun 2018

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Jun 2018	30 Jun 2017	30 Jun 2018	30 Jun 2017
		$$'000	$$'000	$$'000	$$'000

1	Revenue	509,625	490,746	1,098,689	989,916
2	Profit/(loss) before tax	29,312	34,601	112,033	133,263
3	Profit/(loss) for the period	20,700	28,619	82,145	102,619
4	Profit/(loss) attributable to ordinary equity holders of the parent	20,700	28,619	82,145	102,619
5	Basic earnings/(loss) per share (Subunit)	3.88	5.68	15.63	20.42
6	Proposed/Declared dividend per share (Subunit)	6.00	6.00	7.25	7.25
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	2.3900		2.3800

icy97

EX-date	07 Sep 2018
Entitlement date	13 Sep 2018
Entitlement time	05:00 PM
Entitlement subject	Interim Dividend
Entitlement description	An interim single-tier dividend of 6 sen per ordinary share in respect of the financial year ending 31 December 2018.
Period of interest payment	to
Financial Year End	31 Dec 2018
Share transfer book & register of members will be	to   closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no	SYMPHONY SHARE REGISTRARS SDN BHDLevel 6, Symphony HousePusat Dagangan Dana 1Jalan PJU 1A/4647301 Petaling JayaSelangor Tel:0378490777Fax:0378418151
Payment date	27 Sep 2018
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	13 Sep 2018
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	Currency
Currency	Malaysian Ringgit (MYR)
Entitlement in Currency	0.06

icy97

icy97

Type	Announcement
Subject	MATERIAL LITIGATION
Description	ANN JOO RESOURCES BERHAD ("ANN JOO" OR "COMPANY") - IN THE MATTER OF ARBITRATION BETWEEN ANN JOO INTEGRATED STEEL SDN BHD AND TANGSHAN IRON & STEEL INTERNATIONAL ENGINEERING TECHNOLOGY CO., LTD.
Further to the Company’s announcement on 1 August 2018 in relation to the Company’s wholly-owned subsidiary, Ann Joo Integrated Steel Sdn Bhd’s (“AJIS”) arbitration against Tangshan Iron & Steel International Engineering Technology Co. Ltd [previously known as Tangshan Iron & Steel Design & Research Institute Co., Ltd (“Tangshan”)], the Board of Directors of Ann Joo wishes to inform that AJIS has on 21 September 2018 received the additional award dated 17 September 2018 from the Arbitral Tribunal (“Additional Award”), amongst which it is declared, awarded, ordered and directed that Tangshan  shall pay to AJIS the following sums: (i)    RM24,102,483.34 being the additional cost of production or losses due to late start-up of the Pulverized Coal Injection (PCI) for the period between October 2011 and March 2012; and (ii)   RM1,108,495.19 being the additional cost of production or losses due to late start-up of the Top Pressure Recovery Turbines (TRT) for the period between October 2011 and August  2012; together with interest at 6% per annum from the date of the first Notice of Arbitration, i.e. 28 February 2014 until the date of payment. Ann Joo Group expects to recognise an estimated net gain arising from the Final Award (as set out in the announcement dated 1 August 2018) and Additional Award of approximately RM26.70 million, after taking into account the estimated incidental expenses and relevant expenses. This will give rise to additional earning per share of 5.05 sen based on weighted average number of shares as at 17 September 2018. The computation of the estimated net gain is based on the interest rate charged up to  the date of the Additional Award on 17.9.2018 and the foreign currency exchange rate as at that date and the amount will differ depending on the date of payment. The Company will make further announcements if there is any material development. This announcement is dated 25 September 2018.

icy97

增加外销应对內需下降　安裕下半年出口佔三成

財经 最后更新 2018年09月27日 21时50分 • 报导：林迪陞
（吉隆坡27日讯）安裕资源（ANNJOO，6556，主板工业股）董事经理拿督林鸿泰指出，该公司应对內需下降的策略是增加產品出口。他表示，安裕资源在上半年的出口量不多，但下半年出口料占產量的30%，或12万公吨。

林鸿泰透露，安裕资源的主要出口市场是东南亚区域，因运输费较低，而其他市场包括美国，甚至中国在贸易战环境下，也成为潜在出口目標。

「凡事看两面，贸易战同时为大马钢铁业者创造出口机会，安裕资源刚在上个月首次向中国出口產品。」

惟，他补充道，国际市场变化快速，出口前景仍是难料。

他表示，长期而言，安裕资源倾向于將產品供应给內需，而非出口，因无需额外承担运输费。

他今天出席《大马钢铁工业现况及前景座谈会》时，向《东方財经》发表上述谈话。林氏也是大马钢铁工业联合会（MISIF）会长。

此外，林鸿泰称，安裕资源目前的產能使用率仍是100%，但其他业者可能有所下滑。

年產量高达350万公吨的联合钢铁（Alliance Steel）加入战围，更令情况不妙。

虽然联合钢铁声称会把大部份產品出口，但他仍对该业者的出现表达一定忧虑，並期望政府可有效监管联合钢铁的运作，避免產量过剩溢出到国內市场，或是部份出口的產品最终回流本国。

钢铁股被低估合理

当被询及目前大马钢铁股普遍被低估的问题，林鸿泰认为，这是合理现象，因美国总统特朗普发动的贸易战局势不明，加上早前大马政权轮替，令不少外资撤离。

他相信，在贸易战前景难测、大马新政未来发展计划仍未有清晰的情况下，钢铁股恐怕在短期內会继续被低估。

「我希望，政府可在財政预算案中，对大马未来发展提出更清晰的路线，提振投资者信心。」【东方网财经】

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SUMMARY OF KEY FINANCIAL INFORMATION 30 Sep 2018

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Sep 2018	30 Sep 2017	30 Sep 2018	30 Sep 2017
		$$'000	$$'000	$$'000	$$'000

1	Revenue	547,694	595,149	1,646,383	1,585,065
2	Profit/(loss) before tax	37,234	59,311	149,267	192,574
3	Profit/(loss) for the period	34,384	47,237	116,529	149,856
4	Profit/(loss) attributable to ordinary equity holders of the parent	34,384	47,237	116,529	149,856
5	Basic earnings/(loss) per share (Subunit)	6.40	9.28	22.01	29.69
6	Proposed/Declared dividend per share (Subunit)	1.25	1.25	8.50	8.50
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	2.4000		2.3800