<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Nov 7): Hong Leong IB Research said riding the steadier steel prices in the 1H17, Leader Steel Holdings Berhad (LSteel) registered a strong 1H17 growth of 85% year-on-year to RM5.2 million versus RM2.8 million in 1H16.</p></div>

<div class=newsTextDataWrapInner><p>In a trading idea note today, the research house said this was boosted by higher selling prices in both manufacturing and mineral trading segments.</p></div>

<div class=newsTextDataWrapInner><p>LSteel is engaged in two business segments from downstream to upstream products, namely i) manufacturing and trade of steel related products and ii) trading and processing of minerals (iron ore, manganese, mill scales, slags and etc.).</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“We think market might be expecting another upbeat quarter ahead due to the steadier steel prices which may buoy manufacturing and trading of steel products in South East Asia region.</p></div>

<div class=newsTextDataWrapInner><p>“At 65.5 sen, LSteel is trading at 0.6x P/B and 9.1x trailing P/E, which are 30%and 32% below its peers, respectively.</p></div>

<div class=newsTextDataWrapInner><p>“Price has breakout above 64 sen accompanied by higher than average volumes, targeting 68.5 sen-72 sen, with a long term target envisaged around 81 sen. Support will be set around 62 sen-62.5 sen, with the cut loss point set at 61 sen,” it said.</p></div>

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KUALA LUMPUR (Nov 7): Hong Leong IB Research said riding the steadier steel prices in the 1H17, Leader Steel Holdings Berhad (LSteel) registered a strong 1H17 growth of 85% year-on-year to RM5.2 million versus RM2.8 million in 1H16.

In a trading idea note today, the research house said ...

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