Prestar (9873) - A 2018 hidden gem steel player
Since 2016 I have bought this share from 0.6+ and held all the way up to 0.9+ with handsome gain of 40-50%. However I didn't ride through from 0.9 to 1.30.
I did relook and buy again from 1.3 all the way down to 0.97 (now 1.00). Ridiculous thing can happen in share market. When it was 1.2-1.3 i feel this company is very undervalue. Now it has becoming even more undervalue!! Nevertheless, you know it, my bank is quite empty now.
An analyst report caught my attention, stated Prestar is one of the major provider of highway guardrail in Msia (estimated 50%), there are still many highway projects will be built, especially in the Sarawak.
Prestar div yield is around 3%, stood with NTA around 1.40 and it's among the lowest PE in the steel industry.
Although recently govt increase the gas cost, it didn't stop the steel share price to perform (such as Annjoo Masteel etc) due to construction activities will ramp up in 2018. Great demand of building materials.
While, I am still saving hard to buy more Prestar. Distress price movement can be good for me to accumulate more.
See you up there.
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