Melewar is a undervalued company that involved in steel, power, and oil industry. The company is also holding company of M3enery and Myrcon Steel.
Melewar share price dropped significantly last year due to steel market price collapsed. The company started on steel business and ventures into oil and power business. Based on currently balance sheet of the company, is clearly that the company is currently undervalued.
The share price started rise slowly past 2 weeks. I think this counter worth to invest in current share price RM1.17. If you willing to take risk for long term, its warrant is also look attractive at current price RM0.25 which expired on 2010.
Let wait for coming quarter earning result. i will share more about company.
