Insider Asia - Buying 20,000 shares of CSC Steel Holdings (ext: Edge)

We are buying 20,000 shares of CSC Steel Holdings at Friday's closing price of RM1.05 per share, for a total of RM21,000. Following this purchase, our portfolio will be 66% equity invested. We will still have sizeable surplus cash of about RM164,000 for future investments.  

CSC Steel (formerly known as Ornasteel) is one of Malaysia's largest producers of cold rolled and galvanised steel. The company is controlled by China Steel, Taiwan's largest steel player.

CSC's latest earnings results for 2QFYDec2009, whilst still down significantly year-on-year (y-o-y), showed good improvement over the immediate preceding quarter. We believe the worst is over for the company, and CSC will be a major beneficiary of the cyclical recovery.