How cheap is Masteel?

with 2 Quarter now, they have eps 15.64, with another two quarter with similar result (which is a very conservative assumption!), let say 30sen,

At price 1.34, the pe = 4.7, omg!! you say cheap or not? if they did better than current one, you will see the cheapest profitable metal stock.

Not convincing? then look at below statesment :

1.Construction Industry Recovery
The construction sector is projected to turn around in 2007 to register a growth of 3%, against a contractionof 0.5% in 2006.Under the Ninth Malaysia Plan, the Government has allocated up to RM10 billion for the development ofSouthern Corridor in the State of Johor, which includes the development of a special economic zone knownas the Iskandar Development Region. The implementation of the plan, which will start in 2007, is expected toboost the local construction industry.The steel industry is looking to benefit from the positive growth and re-bound of the construction industry.

2.Export Potentials
Singapore’s highly profiled casino/resorts mega-project development plan will also augur well for Malaysia’s steelindustry due to our proximity to the island city.

3.Foreign Exchange
The strengthening of the Malaysian Ringgit against the US Dollar will reduce the cost of imported materialsnecessary for our manufacturing process, thereby benefiting our overall cost of production.

Decide whether to buy or not, think..