【MSC 5916 交流专区】马熔锡机构

icy97

馬熔錫CEO離職

2013-12-31 17:42      
（吉隆坡31日訊）馬熔錫機構（MSC，5916，主板工業產品組）首席執行員／執行董事拿督斯里莫哈末安努亞將從即日起離職，但將繼續擔任非獨立非執行董事和顧問一職，而首席執行員職缺將由原任副首席執行員的蔡昌榮（譯音）填補。

該公司發文告指出，蔡昌榮在公司已任職30年，而原本掌管的海外熔錫業務，和管理集團日常商業、行銷和貿易活動的工作將交由新任首席營運員拉文迪朗接手。

拉文迪朗已在公司服務超過25年，曾擔任冶金學家、生產經理到熔錫部門高級總經理等職務。（星洲日報／財經）

Date of change	01/01/2014
Name	DATO' SERI DR MOHD AJIB ANUAR
Age	63
Nationality	MALAYSIAN
Type of change	Redesignation
Previous Position	Director & Chief Exec. Officer
New Position	Non-Executive Director
Directorate	Non Independent & Non Executive
Qualifications	Dato' Seri Dr Mohd Ajib Anuar holds the professional qualification of the Association of Chartered Certified Accountants, United Kingdom.
Working experience and occupation	YBhg Dato' Seri Dr Mohd Ajib has more than forty years of experience and expertise in the global tin and mineral resources industry. Currently, he serves as the Chairman of the Kuala Lumpur Tin Market, the President of the Malaysian Chamber of Mines and the Chairman of the Malaysian Tin Industry (Research and Development) Board, as well as President and Director of ITRI Ltd and ITRI Innovation Ltd, UK (the research and development body of the world’s tin industry). He is also a member of the Tin Committee of the London Metal Exchange and Vice President of ASEAN Federation of Mining Associations. Prior to his appointment as the CEO of the Company, Dato’ Seri Dr Mohd Ajib Anuar spent 23 years in Malaysia Mining Corporation Berhad Group of Companies (now known as MMC Corporation Berhad Group of Companies), serving in various senior positions including as the General Manager of the Finance Department, Director of Business Development and Managing Director of MMC’s International Marketing Division. He had also served as the President of ITRI Ltd, UK (2002 to 2006), the Deputy Chairman of the Kuala Lumpur Commodity Exchange (1988 to 1993) as well as Chairman of the Malaysian Futures Clearing Corporation (1990 to 1993).
Directorship of public companies (if any)	1. ITRI Innovation Limited 2. ITRI Limited/Tin Technology Ltd
Family relationship with any director and/or major shareholder of the listed issuer	Nil
Any conflict of interests that he/she has with the listed issuer	Nil
Details of any interest in the securities of the listed issuer or its subsidiaries	Direct interest : 809,000 ordinary shares of RM1.00 each in MSC Indirect interest : 200,000 ordinary shares of RM1.00 each in MSC via his spouse

Date of change	31/12/2013
Name	CHUA CHEONG YONG
Age	55
Nationality	MALAYSIAN
Type of change	Appointment
Designation	Chief Executive Officer
Qualifications	Mr Chua Cheong Yong holds a BSc (Hons) in Business Studies from the City University of London as well as a Diploma in Market Research.
Working experience and occupation	Mr. Chua Cheong Yong has a total of 30 years of service in the MSC Group. He assumed the role of Deputy Group Chief Executive Officer in 2012 and continues to helm the International Tin Smelting operations of the MSC Group of companies as well as the Company’s African tin projects. In this context, he continues to play a pivotal role in creating new strategic business relationships for the Group as well as expanding established major accounts. He is part of the business development team responsible for identifying viable resource projects and businesses for the Group. In addition, he also oversees the day to day commercial, marketing and trading activities of the various local and overseas business units of the Group. Mr. Chua is a director to the Board of ITRI Ltd, the global R&D arm of the tin industry based in London. He also sits on the Board of KLTM (Kuala Lumpur Tin Market) and is a member of the Chamber of Mines, Malaysia.
Directorship of public companies (if any)	ITRI Ltd
Family relationship with any director and/or major shareholder of the listed issuer	Nil
Any conflict of interests that he/she has with the listed issuer or its subsidiaries	Nil
Details of any interest in the securities of the listed issuer or its subsidiaries	Indirect interest : 11,000 ordinary shares of RM1.00 each in MSC via his spouse

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31/12/2013

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31/12/2013	31/12/2012	31/12/2013	31/12/2012
		$$'000	$$'000	$$'000	$$'000

1	Revenue	336,168	565,716	1,581,980	2,185,686
2	Profit/(loss) before tax	50,583	-11,358	66,345	36,075
3	Profit/(loss) for the period	23,177	-171,484	10,975	-238,308
4	Profit/(loss) attributable to ordinary equity holders of the parent	28,939	-130,806	16,783	-172,271
5	Basic earnings/(loss) per share (Subunit)	28.90	-130.80	16.80	-172.30
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		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 ($$)	2.2300		2.3100

icy97

轉為盈錫業前景佳 馬熔錫勁漲17仙

財經股市3 Mar 2014 23:00
（吉隆坡3日訊）馬熔錫（MSC，5916，主要板工業）截至去年12月底業績轉虧為盈，券商同時調高投資評級和目標價；該股全日勁漲17仙或6%至3.03令吉，閉市更是十大上升股之冠。

業績報捷推動馬熔錫股價走勢，今早揚5仙，以2.91令吉開跑，漲幅隨后穩步擴大，早盤一度漲17仙，並上探3.03令吉。

休市時，馬熔錫報3.02令吉，揚升16仙，有17萬900股易手。

馬熔錫午盤續穩步攀高，閉市收在3.03令吉，漲17仙，成交量25萬8900股，穩居十大上升股冠軍之座。

興業證券研究于分析報告指出，馬熔錫位于印尼的合資公司科巴錫業（PT Koba Tin）虧損收窄、位于北海的錫礦廠淨利改善、及本地礦業活動取得更高淨利，都是推動公司轉虧為盈主因。

該行看好錫市未來發展前景，並調漲馬熔錫2014或2015財年收入預測，同時調整該股投資評級至“中立”，新目標價為3.09令吉。

“我們近期內都不會顯著調整該股評級，直到我們與該公司總執行長會面。”

馬熔錫上週五（28日）向馬證交所報備，截至2013財年12月底營業額雖按年下挫41%至3億3616萬令吉；但取得高達2893萬9000令吉的淨利。【中国报财经】

icy97

業務轉強‧馬熔錫攀3令吉

2014-03-04 11:24      
（吉隆坡3日訊）馬熔錫機構（MSC,5916,主板工業產品組）國內外業務轉強，推動股價輕易攀過3令吉關口。

週一該股以2令吉91仙報開，先漲5仙，過後買盤加大力度，協助該股衝上3令吉零3仙，並站穩此水平掛收，全天上漲17仙或5.9%，共有25萬8千900股易手。

興業研究表示，該公司的北海工廠獲利改善、國內採錫礦場盈利提昇，加上印尼PT Koba Tin公司的虧損減少，推動核心盈利上揚。

該公司2013財政年轉虧為盈，從前期的1億7千227萬令吉淨虧，轉為1千678萬令吉淨利。單季來看，第四季獲利2千317萬令吉，比較前期為虧損1億7千148萬令吉。

興業研究表示，在看好錫市下，將該公司2014和2015財政年盈利預測調高22.9%和23.5%，並將目標價從2令吉66仙調高至3令吉零9仙。

由於該行即將會見該公司管理層，因此只將評級從“賣出”略為調高至“中和”，可能在雙方見面後再作調整。（星洲日報／財經）

icy97

MALAYSIA SMELTING CORPORATION BERHAD

Type	Announcement
Subject	OTHERS
Description	REVALUATION IN COMPLIANCE WITH GROUP ACCOUNTING POLICY
Details of the Revaluation in Compliance with Group Accounting Policy is set out in the attached file. This announcement is dated 7 March 2014. http://www.bursamalaysia.com/market/listed-companies/company-announcements/1561409

Attachments Revaluation_in_Compliance_with Group_Accounting_Polcy.pdf

icy97

50万入股SL Tin 马熔锡获彭亨采矿权

财经新闻 财经  2014-03-12 12:21
（吉隆坡11日讯）马熔锡机构（MSC，5916，主板工业产品股）以50万令吉，收购SL Tin私人有限公司的80%股权，后者在彭亨持有一项为期15年的采矿租约。

马熔锡机构向马交所报备，配合上述收购，其独资子公司Rahman Hydraulic Tin私人有限公司（RHT）今日已签署一项股票买卖协议和股东协议。

根据文告，SL Tin的唯一股东———Dayang-Dayang私人有限公司，已同意以50万令吉，脱售前者的80%股权或4万股（每股面值1令吉）给RHT。

一旦完成收购，SLTin将成为RHT持股80%的子公司；SL Tin目前在彭亨林明持有一项的采矿租约（含267.3公顷锡矿），为期15年。

此收购计划是马熔锡机构在本地扩大采矿业务的部分计划与策略，从而让其熔锡业务拥有稳定的原料供应。【南洋网财经】

MALAYSIA SMELTING CORPORATION BERHAD

Type	Announcement
Subject	OTHERS
Description	ACQUISITION OF 80% EQUITY OF SL TIN SDN BHD BY RAHMAN HYDRAULIC TIN SDN BHD
The Board of Directors of Malaysia Smelting Corporation Berhad (“MSC” or “the Company”) wishes to advise that the Company’s wholly owned subsidiary, Rahman Hydraulic Tin Sdn. Bhd. ("RHT") has today entered into a Share Sale Agreement and Shareholders’ Agreement for the acquisition of  80% equity in SL Tin Sdn. Bhd ("SL Tin") ("the Acquisition"). The full text of the announcement is attached hereunder. This announcement is dated 11 March 2014. http://www.bursamalaysia.com/market/listed-companies/company-announcements/1563505

Attachments Acquisition_of_Equity_in_SL_Tin_by_RHT.pdf

APULA

股海探温：马熔锡王者归来？
财经周刊 投资观点 股海探温  2014-04-07 12:56
http://www.nanyang.com/node/612197?tid=687

以下问题关于马熔锡机构（MSC）前景：
1）马熔锡机构（MSC，5916，主板工业产品股）已打算把印尼子公司在一年内卖掉，那么，公司是这笔钱会不会当股息回馈股东？脱售进账等于一股多少现金？
2）MSC的前景如何？
3）公司财务实力稳健吗？

答
马熔锡机构（MSC，5916，主板工业产品股）是1994年在马交易所上市；2011年1月，公司在新加坡交易所双边上市，创下历史。

当时股价曾经站在5令吉以上，营业额也是高企在30亿令吉，风头一时无两。

公司盈利在6000万（每股盈利62仙），更派发30仙股息，令投资者觉得它的黄金时期就要来临。

可是，2012年锡价滑落，公司在印尼的采矿合约被停止，可说是屋漏偏逢连夜雨。

2012年，公司亏损1.7亿令吉，让人大跌眼镜，股价也因此滑落至3令吉才止住。

锡价左右业绩

然而，马熔锡的噩运并没停止，踏入2013年，一个季度赚钱，一个季度亏损，也没有派发股息，让投资者信心大失，纷纷套现，股价进一步滑落至2.60令吉左右。

所幸，公司在2013年最后一季大力反弹，全年总算有不错的盈利。公司在2013年盈利是1678万令吉，或每股16.8仙，多多少少挽回投资者的信心。因此，其股价回稳，在近日重新站在3令吉以上。

由于公司业绩很大程度依赖锡价，有兴趣投资者可注意锡米价格是否向上，如果锡米价好，表现应不会差。

同时，由于得不到采矿权，公司2012至2013年完全注销在印尼KOBA矿场的投资，因此，2014年的业绩应该不会受此因素影响。

少了这个亏钱的业务，公司在其他的业务可以持续赚钱，预料2014年会取得盈利。如果相信它是王者归来，可以慢慢逢低累积。

相关新闻
入股SL Tin获彭亨采矿权

上个月11日，马熔锡机构宣布以50万令吉，收购SL Tin私人有限公司的80%股权，后者在彭亨持有一项为期15年的采矿租约。

配合收购，马熔锡机构独资子公司Rahman Hydraulic Tin私人有限公司（简称RHT），已签署股票买卖协议和股东协议。

根据文告，SL Tin的唯一股东———Dayang-Dayang私人有限公司，同意以50万令吉，脱售前者的80%股权或4万股（每股面值1令吉）给RHT。

在完成收购后，SLTin将成为RHT持股80%的子公司；SL Tin目前在彭亨林明持有一项采矿租约（含267.3公顷锡矿），为期15年。

这项收购计划是马熔锡机构在本地扩大采矿业务策略之一，从而让熔锡业务拥有稳定的原料供应。

本期驻诊：陈金阙 专业财务规划师

icy97

马镕锡退出印尼业务

财经新闻 财经  2014-04-20 12:34
（吉隆坡19日讯）在印尼营运超过10年后，马熔锡机构（MSC，5916，主板工业产品股）宣布退出印尼采锡与熔锡业务。

马熔锡机构是全球第二大精炼锡供应商，排名仅在中国云南锡业（Yunnan Tin）之后，该公司在印尼的第二大锡矿场PT Koba Tin持股75%。

马熔锡机构新任总执行长蔡宗镛告诉《星报》，公司计划在印尼脱售相关股权，完全退出印尼业务，希望售股作业能在今年底完成。

除了印尼公司持股，马熔锡机构也将脱售于当地的相关资产，如锡矿货物以及锡渣、大容量的锡矿开采铁船以及印尼的一座熔锡厂房。

蔡宗镛是在今年1月份，取代前总执行长拿督斯里默阿吉阿努尔，担任公司总执行长。

市场人士透露，PTKoba锡矿工程合约在去年3月31日到期，该公司提出10年延长期限，却遭印尼当局拒绝，马熔锡机构因此决定退出印尼市场。

聚焦熔锡商机

蔡宗镛说，“这向来是一项很好的投资，直至这几年，PT Koba面临许多无法预计的事情，这使得我们很难继续在印尼营运。”

他指出，从今年起至未来，最大的挑战将是让马熔锡机构取得持续性的盈利增长，建立稳固的人力资本，以及巩固公司定位寻求未来成长。

他说，公司将不会在上游领域进行大型投资活动，未来焦点将放在有助于支援核心业务———熔锡的商业机会，也加强Rahman Hydraulic采锡业务。

PT Koba锡矿工程合约合约是在1971年10月16日签署，期间多次延长，直至去年3月31日；去年8月31日，PT Koba接获印尼政府通知，决定终结工程合约。

马熔锡机构是在2002年，从澳洲营运商手中购下PT Koba股权。【南洋网财经】

icy97

马熔锡拟拓展中非缅甸

财经新闻 财经  2014-05-01 13:28
（乔治市30日讯）退出印尼市场后，马熔锡机构（MSC，5916，主板工业产品股）正探讨拓展非洲中部与缅甸的业务版图。

马熔锡机构总执行长蔡宗镛在股东大会后向媒体指出，公司正在非洲中部的刚果民主共和国（简称刚果）和卢旺达探讨商机，因为当地矿业富有充足的天然资源。

公司希望刚果和卢旺达能够继续为其槟城北海冶炼厂，长期供应饲料原料。

自2012年起，马熔锡机构在刚果加丹加省的1个锡冶炼项目，持股40%；该厂可按年生产3500吨精炼锡。

惟电力供应不足，导致该厂欠缺保养与维修，预计在1、2年内，可重新投入运作。

蔡宗镛指出，公司渴望扩充一些国家如刚果的业务版图，刚果也为其北海冶炼厂提供锡矿石，以进一步提炼与塑造品牌。

此外，马熔锡机构也在扩充缅甸业务前，密切留意该国的风险与政治欠稳问题。【南洋网财经】

icy97

停止印尼锡矿业务 马熔锡首季赚1472万

财经新闻 财经  2014-05-08 12:13
（吉隆坡7日讯）马熔锡机构（MSC，5916，主板工业产品股）2014财年首季净利按年下滑2.21%至1471万6000令吉，上财年同期为1505万令吉。

至于营业额则从4亿2098万令吉，上扬1.92%至4亿2909万7000令吉。

在印尼KOBA Tin合约不获更新后，马熔锡机构停止印尼所有锡矿业务，并预计在年杪完全脱售KOBA Tin股权。

马熔锡机构表示，若无意外，Butterworth International冶炼业务和Rahman Hydraulic采矿业务相信能在本财年交出让人满意的表现。【南洋网财经】

SUMMARY OF KEY FINANCIAL INFORMATION 31/03/2014

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31/03/2014	31/03/2013	31/03/2014	31/03/2013
		$$'000	$$'000	$$'000	$$'000

1	Revenue	429,097	420,980	429,097	420,980
2	Profit/(loss) before tax	20,869	20,105	20,869	20,105
3	Profit/(loss) for the period	14,636	18,762	14,636	18,762
4	Profit/(loss) attributable to ordinary equity holders of the parent	14,716	15,050	14,716	15,050
5	Basic earnings/(loss) per share (Subunit)	14.70	15.10	14.70	15.10
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		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 ($$)	2.4400		2.2300

icy97

券商買進心頭好．純錫礦業者 馬熔錫前景續改善

財經股市8 May 2014 23:00

券商 ：興業證券研究
目標價：4.20令吉

馬熔錫（MSC，5916，主要板工業）北海業務產量增加、印尼長期虧損的業務止血，加上錫價看高，我們決定將此股評級從守持上修至買進。

目前該公司前景持續改善中，尤其全球錫礦產量有限，以中國為例，產量未來數年料將持續放緩，需求方面卻是有增無減，故錫礦市場基本面極有可能在短期內改善。

我們對今年及明年的錫礦價格預估保持在2萬3375美元（約7萬5303令吉）及2萬4125美元（約7萬7720令吉），在錫礦市場前景看俏帶動下，馬熔錫已連續2個季度錄較預期來得好的業績，在錫價穩在2萬3000美元（約7萬4094令吉）前提下，我們決定上修股項評級。

再者，目前該公司已是馬股碩果僅存的純錫礦業者，主要收入來自熔錫業務，但是在該公司為KM資源清盤前，仍謹慎看待估值。

馬熔錫受業績帶旺週四（8日）走勢，股價全日保持不俗表現，閉市時起8仙，掛3.56令吉，成交量13萬3300股。【中国报财经】

icy97

马熔锡出售印尼2矿业公司

财经 2014年6月2日
（吉隆坡2日讯）马熔锡机构（MSC，5916，主板工业股）宣布，出售旗下两家位於印尼的矿业公司--BCL和PTMSCI，终止在当地所有採矿业务。  

根据文告，马熔锡机构以100万美元的价格，把BCL100%股权卖给BERKELEYKENSINGTON有限公司，目前已收到40万美元的订金，其余数额最迟须在6月30日前付清。

此外，该公司也把PTMSCI500万股，或100%股票以每股1美元售予PTBANGKATIMAHUTAMA。

马熔锡机构表示，脱售这两项资產將提振每股盈利至2.02令吉和降低负债率至1.82倍。【东方网财经】

Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS
Description	DIVESTMENT OF MINING SUBSIDIARIES IN INDONESIA: (a)        DISPOSAL OF 100% EQUITY INTEREST IN BEMBAN CORPORATION LIMITED (“BCL”), THE PENULTIMATE HOLDING COMPANY OF PT KOBA TIN; AND (b)        DISPOSAL OF 100% EQUITY INTEREST IN PT MSC INDONESIA (“PT MSCI”)
Malaysia Smelting Corporation Berhad (“MSC” or the “Company”) wishes to advise that pursuant to the decision of its Board of Directors (“Board”) to divest all mining subsidiaries in Indonesia as stated in the Company’s Annual Report for 2013, the Company has entered into two (2) separate sale and purchase agreements for the disposal of BCL and PT MSCI, respectively. The rationale for the Proposed Disposals is to cease all mining operations in Indonesia and re-position MSC and its subsidiaries (“MSC Group”) to be more geographically focused in its tin mining and smelting business activities. Further details on the announcement are set out in the attached file. http://www.bursamalaysia.com/market/listed-companies/company-announcements/1644613

Attachments Divestment_of_Indonesian_Subsidiaries_020614.pdf

icy97

馬熔錫壯士斷臂

2014-06-08 19:56      
馬熔錫機構（MSC，5916，主板工業產品組）終於脫售印尼採礦業務，認賠退出印尼上游採錫領域。

該公司以約100萬美元（326萬2千令吉）脫售印尼業務，從中蒙受3千204萬令吉虧損，可說是賤價大拋售，這是逼於無奈，只好壯士斷臂，採取長痛不如短痛的做法。

馬熔錫脫售印尼業務已早有先兆，該公司董事部在2013年年報中就已表明，決定脫售所有印尼採礦業務。

馬熔錫原本從事下游熔錫業務，但為了取得原料控制權和提昇獲利，因此進軍上游採錫業務。印尼的採錫業務曾經是馬熔錫皇冠上的珠寶，成為其主要的盈利動力來源。

但是好景不常，隨著印尼當局加緊管制當地的採錫活動，作為外資的馬熔錫首其當其沖，從此進入多事之秋，旗下生產的錫礦被扣押不准出口，而采錫執照最終更不獲更新，導致印尼采錫活動停擺，該公司只好忍痛退出印尼市場。

這也突顯了海外業務所面對的風險，儘管馬熔錫是一家管理良好的公司，但對此變局也只能束手無策。

由於印尼採錫業務虧損，曾導致馬熔錫頻頻蒙虧，一直到去年第四季起，集團才轉虧為盈。不過隨著這次虧本賣印尼資產，該集團接下來可能再蒙受一次過的脫售虧損。

過去多年來該公司已嘗試多元化業務至其它金屬，甚至進軍非洲國家，但無法再創佳績。在揮別印尼市場之後，如今將專注於大馬現有的業務，該公司看來需要一段時間休養生息，未來的成長路向仍是一大疑問。（星洲日報／投資致富‧投資茶室：李勇堅）

icy97

Date of change	01/07/2014
Name	NORMAN IP KA CHEUNG
Age	61
Nationality	BRITISH
Designation	Chairman & Director
Directorate	Independent & Non Executive
Type of change	Resignation
Reason	Due to increase in work commitments
Details of any disagreement that he/she has with the Board of Directors	No
Whether there are any matters that need to be brought to the attention of the shareholders	No
Qualifications	Mr Ip graduated with a B Sc (Econs) from the London School of Economics and Political Science. He is a Fellow of the Institute of Chartered Accountants in England and Wales and a Fellow of the Institute of Certified Public Accountants of Singapore.
Working experience and occupation	Mr Ip retired from the post of President & Group Chief Executive Officer and Executive Director of The Straits Trading Company Limited (STC) in Singapore, the immediate holding company of Malaysia Smelting Corporation Berhad on 31 October 2009. Prior to joining The Straits Trading Group in 1983, he was a supervisor with Ernst & Whinney (now known as Ernst & Young) specializing in audits of conglomerates. He is the Chairman of The Great Eastern Life Assurance Company Limited and a director of United Engineers Limited, UE E&C Limited, Great Eastern Holdings Limited, and AIMS AMP Capital Industrial REIT Management Limited - all companies listed on the Singapore Exchange Securities Trading Limited (SGX-ST). In addition, he is also a member of the Board of Building and Construction Authority of Singapore.
Directorship of public companies (if any)	1. The Great Eastern Life Assurance Company Limited 2. United Engineers Limited 3. UE E&C Limited 4. Great Eastern Holdings Limited 5. AIMS AMP Capital Industrial REIT Management Limited
Family relationship with any director and/or major shareholder of the listed issuer	Nil
Any conflict of interests that he/she has with the listed issuer	Nil
Details of any interest in the securities of the listed issuer or its subsidiaries	Direct interest : 250,000 ordinary shares of RM1.00 each in

Date of change	01/07/2014
Name	RAZMAN BIN ARIFFIN
Age	66
Nationality	MALAYSIAN
Type of change	Appointment
Designation	Chairman
Directorate	Independent & Non Executive
Qualifications	En Razman graduated from the Imperial College of Science and Technology at the University of London, England with First Class Honours in Mining Engineering.
Working experience and occupation	En Razman's involvement in the mining, metallurgical and energy industries spans over forty years. Beginning his career at Osborne & Chappel Sdn. Bhd. in 1972, En Razman moved on to work for Sarawak Shell Berhad. He was then attached to the MMC Corporation Berhad Group of Companies serving in various capacities over the years. He was the General Manager of Malaysia Smelting Corporation Berhad from 1985 to 1989 and the Chief Executive Officer and Executive Director of the Company from 1989. He left the Company in 1994 to become Senior Consultant at Turnaround Managers Inc. He has also served as Managing Director of Trenergy (M) Berhad and Crest Petroleum Berhad, both companies listed on Bursa Malaysia. He is a past Chairman of the Malaysian Section of the Institute of Materials, Minerals and Mining, and had also served on the Council of the Institute of Mineral Engineering, Malaysia. En Razman is also a director of The Straits Trading Company Limited of Singapore, which is the immediate holding company of Malaysia Smelting Corporation Berhad.
Directorship of public companies (if any)	The Straits Trading Company Limited
Family relationship with any director and/or major shareholder of the listed issuer	Nil
Any conflict of interests that he/she has with the listed issuer	Nil
Details of any interest in the securities of the listed issuer or its subsidiaries	Direct interest : 67,000 ordinary shares of RM1.00 each in MSC

Date of change	01/07/2014
Name	CHEW KWEE SAN
Age	45
Nationality	SINGAPOREAN
Type of change	Appointment
Designation	Deputy Chairman
Directorate	Non Independent & Non Executive
Qualifications	Mr Chew Kwee San graduated with LLB (Hons) from the University of Nottingham and was called to the Bar of England and Wales in 1994 and then admitted as an Advocate and Solicitor of the Supreme Court in Singapore in 1995.
Working experience and occupation	Mr Chew is currently an Executive Director of the Tecity Group of companies which is a privately-held investment group founded by the late banker and philanthropist, Tan Sri Dr Tan Chin Tuan. The Group manages an active global investment portfolio. The Tecity Group of companies has substantial shareholdings in The Straits Trading Company Limited. As an Executive Director, Mr Chew sits on the investment committee that oversees its investment operations. He is also a Council Member of the Tan Chin Tuan Foundation in Singapore and Council Member of the Tan Sri Tan Foundation in Malaysia. He is a director and a member of the Audit Committee of FJ Benjamin Holdings Limited, a public listed company on the Singapore Exchange Securities Trading Limited (“SGX-ST”).
Directorship of public companies (if any)	FJ Benjamin Holdings Limited
Family relationship with any director and/or major shareholder of the listed issuer	Mr Chew's sister is Ms Chew Gek Khim, the Chairman of The Straits Trading Company Limited ("STC") and his mother is Dr Tan Kheng Lian, a substantial shareholder of STC which in turn owns 55.30% of the equity of the Company.
Any conflict of interests that he/she has with the listed issuer	Mr Chew is the Executive Director of the Tecity Group of companies which have substantial shareholdings in STC which in turn owns 55.30% of the equity of the Company.
Details of any interest in the securities of the listed issuer or its subsidiaries	1. Indirect interest via sister, Ms Chew Gek Khim : 400,000 ordinary shares of RM1.00 each in MSC 2. Indirect interest via father, Dr Chew Beng Kheng : 60,000 ordinary shares of RM1.00 each in MSC

icy97

馬熔錫 淨虧擴至2879萬

企業財經12 Aug 2014 20:45
（吉隆坡12日訊）全額提供財務擔保和收款減值損失導致馬熔錫（MSC，5916，主要板工業）截至本財年6月底次季淨虧擴大近5倍，報2879萬1000令吉。

馬熔錫向馬證交所報備，錫平均價格上升，推動營業額按年揚7%至4億3170萬令吉。

該公司上半年營業額小幅上漲4%至8億6080萬令吉；淨虧則增至1407萬5000令吉。

馬熔錫指出，儘管未來全球經濟持續充滿挑戰，但北海錫礦廠業務和Rahman水力錫礦廠業務表現料保持穩健。【中国报财经】

SUMMARY OF KEY FINANCIAL INFORMATION 30/06/2014

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30/06/2014	30/06/2013	30/06/2014	30/06/2013
		$$'000	$$'000	$$'000	$$'000

1	Revenue	431,709	404,498	860,806	825,478
2	Profit/(loss) before tax	6,053	9,820	30,092	30,166
3	Profit/(loss) for the period	-28,834	-8,108	-14,198	10,654
4	Profit/(loss) attributable to ordinary equity holders of the parent	-28,791	-4,879	-14,075	10,171
5	Basic earnings/(loss) per share (Subunit)	-28.80	-4.90	-14.10	10.20
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		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 ($$)	2.2500		2.2300

icy97

業績受特別虧損拖累‧馬熔錫前景仍看好

2014-08-13 17:05      
（吉隆坡13日訊）馬熔錫機構（MSC,5916,主板工業產品組）扣除特別虧損後的表現比預期佳，由於市場對錫的強烈需求，興業研究繼續看好該公司前景。

馬熔錫機構在上半年的核心淨盈利達3千350萬令吉，按季比較，第二季的核心淨盈利上升了22.5%。主要業績成長歸功其子公司拉曼水力錫礦的採礦業務從高錫價中得益。

興業研究表示，雖然馬熔錫機構在為脫售印尼Koba錫，應收賬款減值及為財務擔保全數撥備後在上半年損失了4千760萬令吉，但這屬特殊個案。

此外，市場對錫的高需求也是馬熔錫機構的主要動力。興業研究相信全球錫產量將有所限制，加上半導體銷售及中國半導體生產對錫的強烈需求，在短期內錫的需求將持續旺盛，也將帶動馬熔錫機構的營運。

興業研究呼吁投資者勿把重點放在上半年的特別虧損，希望該公司可重新出發。基於目前錫市的正面基本面及上半年馬熔錫機構比預期好的表現，興業研究給予馬熔錫機構“買入”評級，目標價4令吉20仙。（星洲日報／財經‧報道：陳林德）

icy97

马熔锡Q3 赚472万

财经新闻 财经  2014-11-11 10:22
（吉隆坡10日讯）基于子公司预料之外的亏损减少，马熔锡机构（MSC，5916，主板工业产品股）截至9月底第三季，净利达472万1000令吉，转亏为盈。

该公司上季亏损2879万1000令吉，上财年第三季则亏损2232万7000令吉。

该公司向马交所报备，上几个季度，面对亏损是因为印尼的子公司停止营运造成负债。

脱售这些公司后司亏损幅度也随着收窄。

另外，因经过提炼的锡销量更高，加上平均锡价更高，马熔锡机构第三季营业额受到带动，达5亿2829万9000令吉，涨25.84%。

该公司截至首三季，累积亏损收窄至935万4000令吉；营业额则达13亿8973万5000令吉，增11.55%。【南洋网财经】

SUMMARY OF KEY FINANCIAL INFORMATION 30/09/2014

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30/09/2014	30/09/2013	30/09/2014	30/09/2013
		$$'000	$$'000	$$'000	$$'000

1	Revenue	528,929	420,334	1,389,735	1,245,812
2	Profit/(loss) before tax	9,257	-13,436	39,349	16,730
3	Profit/(loss) for the period	4,731	-22,856	-9,467	-12,202
4	Profit/(loss) attributable to ordinary equity holders of the parent	4,721	-22,327	-9,354	-12,156
5	Basic earnings/(loss) per share (Subunit)	4.70	-22.30	-9.40	-12.20
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		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 ($$)	2.2500		2.2300

icy97

興業證券研究 建議趁低買進馬熔錫

財經股市11 Nov 2014 20:35
（吉隆坡11日訊）馬熔錫（MSC，5916，主要板工業）的錫業務基本面佳，興業證券研究建議趁低買進。

除了中國，全球主要錫生產國的產量仍然受到限制，興業證券研究因而相信，錫產量增長可能在未來幾年緩和下來。

至于需求而言，全球半導體銷售因電子產品使用率而走高。興業證券研究相信，有限的供應將保持錫市場的基本面短期良好。

不過，考量到原產品市場疲軟，興業證券研究將2014、2015，以及2016年的錫價預測，分別下修至每公噸2萬2169美元（約7萬4199令吉）、2萬2750美元（約7萬6144令吉），以及2萬3500美元（約7萬8654令吉）。

興業證券研究進而將2014和2015財年的盈利預測，分別調低7.2%和7.8%。

隨著下調盈利預測，興業證券研究將目標價格從4.20令吉，下修至3.88令吉。

雖然下修目標價，但基于2015財年7倍本益比，即製造商介于7至8倍本益比範圍的下限。換句話說，馬熔錫的本益比處于低水平，以及錫領域的正面基本面，興業證券研究建議投資者，在這短期弱勢期間趁低買進。

不過，這無法為該公司帶來催化劑，該股以3.17令吉開盤，先跌1仙，並在11點24分猛挫10仙至3.08令吉，以3.10令吉掛休，跌8仙；半日成交量2萬3000股。

該股午盤逐步收窄跌幅，閉市時，馬熔錫閉市報3.10令吉，跌8仙，成交量達3萬9800股。。【中国报财经】

icy97

马熔锡扩產　將设第6座熔炉

财经 2014年12月16日
（吉隆坡16日讯）马熔锡机构（MSC，5916，主板工业股）今日宣布，该公司將设立总值350万令吉的第6座燃料熔炉，以扩大公司的熔锡容量        

根据文告指出，该公司在北海成立迄今已有112年歷史，其工厂自1960年开始便一直以5座熔炉运作，而今日所推介的第6座新熔炉將成为公司重要的里程碑。

在新炉完成后，管理层预料，將为公司整体冶炼產能增加额外的15%容量，同时，这也让公司有能力提供更多的冶炼原料、减少中级库存和增强產品物流。

马熔锡机构目前的按年精炼锡產量为3万5000公吨，相等于全球精炼锡產量的10%。上述產量扩充计划，將巩固公司在全球市场的定位，成为最大和最具成本效益的锡冶炼厂。

同时，管理层也表示，这將对公司未来净利带来正面的贡献。【东方网财经】

Type	Announcement
Subject	OTHERS
Description	MALAYSIA SMELTING CORPORATION BERHAD EXPANDS SMELTING CAPACITY
The Board of Directors of Malaysia Smelting Corporation Berhad (“MSC” or “the Company”) wishes to advise MSC unveiled its 6th fuel fired reverberatory furnace today in a simple ceremony. The full text of the announcement is attached hereunder. This announcement is dated 16 December 2014. http://www.bursamalaysia.com/market/listed-companies/company-announcements/1826493

Attachments 16.12.2014 - MSC Expands Smelting Capacity.pdf

icy97

马熔锡末季亏51万

财经新闻 财经  2015-02-25 07:43
（吉隆坡24日讯）截至2014年12月杪第4季，马熔锡机构（MSC，5916，主板工业产品股）净亏51万1000令吉或每股亏损0.5仙，去年同期为净赚2893万9000令吉。

同期营业额则按年增长56.3%，从去年的3亿3616万8000令吉，扬升至5亿2544万4000令吉。

精炼锡的销售量上涨，带动营业额走高，但矿业和冶炼业务成本增加，打击利润赚幅。

合计2014全年，马熔锡机构净亏986万5000令吉或每股亏损9.9仙。【南洋网财经】

SUMMARY OF KEY FINANCIAL INFORMATION 31/12/2014

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31/12/2014	31/12/2013	31/12/2014	31/12/2013
		$$'000	$$'000	$$'000	$$'000

1	Revenue	525,444	336,168	1,915,179	1,581,980
2	Profit/(loss) before tax	5,643	53,889	44,992	70,619
3	Profit/(loss) for the period	-503	23,177	-9,970	10,975
4	Profit/(loss) attributable to ordinary equity holders of the parent	-511	28,939	-9,865	16,783
5	Basic earnings/(loss) per share (Subunit)	-0.50	28.90	-9.90	16.80
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		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 ($$)	2.3400		2.2300