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The steel sector is a tough one to make money. Over the past 14 years (2009 to 2022) HiapTek ROE averaged 2% per annum. If you think this is terrible, wait till you see the sector average for the same period. It was negative 1%. Why would you want to invest in this sector? Well there are other gems but you have to dig deeper. For insights into the sector performance, go to https://www.i4value.asia/2021/10/a-tough-12-years-for-bursa-malaysia.html#more
Steel is s tough, competitive business requiring heavy capex. I was lucky. I got in at 0.28. Just cashed out at 0.435. My target was 0.45. Oh well. I am happy.
No. Buy in cost. After I bought in, no more chance to average down. Sold all at 43.5 because 1) my target was a 60% upside but I cashed out because I feel that it has peaked for the moment. Better to cash out and put the $$ to another counter because the fundamentals does not look promising anymore.
My principle.
Establish my target price. Establish my target SELL price.
SELL at my target SELL price or when fundaments change, whichever comes first.
Hiaptek controlled about 28-29% of that associate company , Eastern steel … The coming quarter result will decide Hiap teck worth above 44-45 cents or go down to below 40 cents again …
