Stock Market Books

Monday, June 30, 2008

KLCI down 3.97 on Monday

30/6 KLCI closed 1186.57, down 3.97 points. CPO slid RM 38 to RM 3585, MISC dropped 25 sen to RM 8.25, TMI slipped 25 sen to RM 6.15, Magna eroded 24 sen to RM 3.54, Widetec was down 20 sen to 78sen.


30/6 Ireka gets RM 539.8m contract from Amatir Resources for 605 units of luxury condominiums, facilities in Mukim Batu KL.

Green Packet will be on track for WiMax launch in the third quarter because the user trials are successful, says group MD. Also Green Packet will be rationalizing the overseas biz.

EON shareholders reject Hicom Holdings’ proposal to de-list the company.

Northern Utilities Resources seeks receivers nod to pick forensic auditors over allegations in irregularities in management, accounts.

Bolton sold 20m Symphony House shares June 25, cut stake to 75m. Symphony ED John Cantillon bought 25 m Symphony shares 32 sen each.

Sunday, June 29, 2008

Syabas is likely to increase water tariffs by at least 30 % next year

27/ Syarikat Bekalan Air Selangor (Syabas) is likely to seek a 30 to 40 % hike in water tariffs next year, says its executive chairman Rozali Ismail.

26/6 Tenaga to defend RM 43.7 m claim from MMC Corp’s Segari Energy Ventures, says sum deducted as Segari did not generate electricity.

26/6 KLCI closes down 5.22 points to 1203.89. TMI slipped 30 sen to RM 6.70, Asiatic eroded 25 sen to RM 8.20, PBBank-F slid 20 sen to RM10.60, SP Setia dropped 18 sen to RM 3.10.


25/6 Government will hold talks with banks to reduce credit card service charge to petrol dealers by half – from 1% to 0.5 %, says Shahrir Samad.

24/6 Petrol dealers association confirms there are No plans for a strike, disputes rumours circulating via email.

24/ 6 SP Setia second quarter net profit is recorded at RM 48m vs RM 59.76 m. Revenue RM 301.5m vs RM 286.8m. First half net profit is recorded at RM 96.5m vs RM 106.5m.
Declared 7 sen dividend per share.

24/6 Sime Darby appoints Abd Wahab Maskan as Chief Operating Officer, Tong Poh Keow as group chief financial officer.

Thursday, June 26, 2008

Foreign equity ownership fell from 32.5% in 2004 to 30.1% in 2006

26/6 KLCI was down 1.7 points to 1207.40 at noon. TMI eroded 35 sen to RM 6.65, DIGI slid 30 sen to RM 24.20, SP Setia slipped 28 sen to RM 3, Kulim-WB was down 25 sen to RM 7.20, Shell eroded 20 sen to RM 10.70.

Foreign equity ownership fell from 32.5% in 2004 to 30.1% in 2006, according to 9MP mid-term review.

Bumiputera equity ownership is recorded at 18.9 % in 2004 and has increased to 19.4% in 2006, Non-bumi equity ownership increased from 40.6% to 43.9%, Chinese equity ownership rose from 39.6% to 42.4%, Indians eroded from 1.2% to 1.1%, foreigners dropped from 32.5% to 30.1%.

The second finance minister says the government is undecided who will take over Bakun undersea cable project after Sime exit. It will talk with Tenaga, stakeholders.

Petra Perdana will expand fleet because it sees a higher utilization rate this year and beyond, compared with 75% utilization in 2007.

KLCI down 8.83 on Wednesday

25/6 KLCI closed 8.83 points up to 1,209. PBBank-F rose 40 sen to RM 10.80, PBBank jumped 20 sen to RM 10.60, Gamuda moved 13 sen to RM 2.33 but Kulim slipped 60 sen to RM 9.70. CPO rose RM 33.00

Proton is looking into the government proposal to design and manufacture Malaysia taxi.

Sime Darby is not taking up equity interest in Sarawak Hidro as well as not taking part in developing transmission link from Bakun to peninsula.

Maybank is to venture into Pakistan takaful business via proposed acquisition of 30% of Pak-Kuwait Family Takaful Co. Ltd.

CapitaLand buys 61.9% total retail area of Sungei Wang Plaza in KL for RM 595m. CapitaLand now owns RM 2 b of Malaysian retail property.

Gamuda formalizes Lin Yun Ling’s employment as group MD for 5 years, effective from July 1 to June 30, 2013.

Intelligent Edge’s 42.84 m warrants of 3 sen each issued under rights issue to be listed Thursday on Mesdaq market under Loans sector.

TM International to announce corporate exercise, trading suspended since 2.36pm.

Tuesday, June 24, 2008

吴继宗(钟观涛)本周一在光明日报(北马)财经版怎么说?

由於沙巴進步黨可能在本週于國會提出“投首相不信任票”的動議,因此,相信股市應該不會有好表現。

沙巴進步黨主席拿督斯里楊德利在上週三在記者會上公然宣稱對首相兼國陣主席拿督斯里阿都拉的領導失去信心,該黨僅有的兩名國會議員將在星期一復會的國會會議上支持對阿都拉投不信任票。


全力支持首相領導
--------------

國陣週四召開國陣最高理事會緊急會議,13個成員黨表示,全力支持首相拿督斯里阿都拉巴達威的領導。

剛好在這個時候,吉隆坡高庭在6月19日(周四)在聆審前沙巴州土地發展局主席丹斯里卡亞達被控貪案時,被告知楊德利在1996年涉及貪污行為,即在擔任沙巴首席部長時,指示將脫售沙巴土地發展局屬下Sapi種植的股權所得500萬令吉盈利支付給他指定的代理。

6月21日,我們看到一則新聞,指反貪污局總監拿督斯里阿末沙益已下令,立即調查沙巴前首席部長拿督楊德利在位時是否涉嫌貪污,指示必利阿瑪克(BRI SKMARK)企圖將500萬令吉盈利支付給他指定的代理商事件。

調查組主任拿督蘇基利表明,一旦貪污行為屬實,該局將把楊德利控上法庭。

本週,股友會把焦點投注在政治發展。6月20日,楊德利說,國陣6月19日的長達3小時的最高理事會議上商討是否要開除沙巴進步黨。

他說:“國陣為何不召開3小時的會議商議沙巴諸多問題,如非法移民、落後、政治自主權、發展不足等?”

他指出,非法移民已威脅沙巴,它衍生出種種社會問題,不能夠再“慢慢等”。

國會下議院議長丹斯里班迪卡阿敏表示未接到對首相投不信任票的動議,而全體國陣議員已經受到訓示,假如有不信任首相的動議必須予以否決。

沙進步黨何時在國會提出對首相的不信任動議,目前仍不清楚,但他們必須遵重議會常規。

股市晉入調整期
------------

股市已經晉入調整期,這個調整期會維持多天,沒有人知道,但只要有現金,而你心儀的股票又跌至合理水平,就可以進場扯購。股市下跌肯定與某些問題有關,比如政治,但股市假如不跌,你又怎樣買到便宜貨?

如果人們不是因為恐懼而丟票,你又如何買到“價廉物美”的股票。

上週五,美國道瓊斯工業指數大跌220.40,報11842.69。

美國股市的下跌,相信也會拖累亞洲股市,因此本週一亞太股市相信不會理想。美國上週五首次跌破12000點,美股曾在3月17日跌破12000點大關。

標準及普爾500指數跌24.90,報1317.93。納斯達克指數跌55.97,報2406,09。

美國股市週五的大跌是因為一系列的問題造成的。美林把區域銀行的評級下修,使到市場加深憂慮。

花旗集團首席財務員表克里滕登(Gary Crittenden)上週四警告,第二季將再度大幅減記房貸投資的資產價值,財政數字將受影響。


花旗減記資產達百億美元
-------------------

他估計第二季減記資產將低於第一季的150億美元。花旗首季虧頂51億美元。分析員估計,花旗第二季減記資產金額最高達100億美元(約327億令吉)。

華盛頓基金宣佈截退1200名員工,慕迪投資者服務上週五決定把兩個大型債券發行公司的評級下修。

上週對股市不利的消息不斷傳出。

6月20日,貝爾斯登公司旗下兩項基金的前任基金經理依詐斯和共謀罪名遭起訴。因在基金倒閉過程中存在欺詐和其他不法行為,令投資者損失逾10億美元。

同日,有報道指英國第三大銀行巴克萊可能獲得日本三井住友金融挹資1000億日圓(約30億令吉)。
為了彌補房貸相關虧損和資產減損,巴克萊近日積極尋求增資機會。

知名對沖基金經理保爾估計,金融業在這沒危機中對損失總計可能達到1.3兆美元(約4.2兆令吉),超過國際貨幣基金組織(IMF)估計的9450億美元。

截稿時,國際原油價格每桶報134.71美元,下0.65。至少它不在139美元。

美國國會目前正在討論,是否有可能禁止大型的基金投資者玩原產品期貨項目。

但有些專家都認為這樣做不會降低油價,而且可能弄巧反拙。

大型基金經理把資金投入石油及原產品作為對通膨的對衝,尤其當美元下滑時。

世界經濟仍出現許多消極因素,因此我們必須時刻注意局勢的發展。

投資者可以從報章的許多消息中說是投資策略,這些消息如下:

其一,價格飆升的棕仁油步原棕油後塵,加入種植領域暴利稅行列,對種植領域是雪上加霜,但由於美國潮濕氣候,高油價等因素,原棕油前景維持正面。可以加碼。

其二,國家銀行將批准更多銀行設立回教銀行子公司,同時計劃出執照給海外回教基金管理公司,以吸引更多有意投資回教產品的投資者。

在2015年之前,回教金融市場總值將擴至2.8兆美元。投資者可以留意這方面的發展。

其三,聯昌國際集團(CIMB GROUP)以現金59億500萬泰銖(約5億7740萬令吉)收購泰國銀行(BANK THAI)所持的42.17%股權,並提出強制性全面獻購泰國銀行其餘股權。

投資股市,目前要小心為止。

KLCI up 4.87 on Tuesday

KLCI rose 4.87 to 1200.28 on Tuesday.

KFH Malaysia still committed to investing in Malaysia, investing another US$100m to expand.

Konsortium Transnasional warns of further drop in earnings as margins would further tightern in future due to higher fuel costs.

Discovery Capital Management LLC of US buys 6.64m UEM World shares from April to June 5, ups stake to 7.83% or 109.35m shares.

Boustead Holdings extends the closing date for proposed voluntary take-over offer of Boustead Properties by 14 more days to July 10.

Wah Seong will invest RM 150 m in an integrated pipe coating plant in Sabah, operational by third quarter this year, as it expands more into O& G operations.

23/6 Wah Seong gets RM 370 m pipe coating contracts in Kuantan and Tukmenistan.

23/6 Tanjung Offshore gets RM 12m order from Sime Darby Engineering to supply control valve package for two platforms

23/6 MAS will make further changes to fares, fuel surcharges due to record oil prices, says Bloomberg report, MAS fell 14 sen to RM 3.20 at noon.

23/6 Bank Thai shares surge 40% or 0.53 baht to 1.85 baht, off early high of 1.93 baht on BCHB takeover. BCHB fell 5c to RM8.20 at 12.10pm

Monday, June 23, 2008

KLCI down 11.26 on Monday

23/6 KLCI closed 11.26 down to 1195.41. CPO rose RM18 to RM3,569. Sime slipped 15 sen to RM 9.20, MAS eroded 16 sen to RM3.18 but UBG rose 17 sen to RM 2.48.

Saturday, June 21, 2008

BJland earned RM 627 m

20/6 Berjaya Land fourth quarter earnings RM627m vs net loss RM 1.88m a year ago. Full year ended April 30, net profit RM 1.1 b vs only RM41.7m a year ago.

20/6 CIMB Bank buying 42% of Bank Thai for RM 577m, to launch MGO. Total cost may reach RM 1.9b including recapitalization exercise.

Friday, June 20, 2008

KLCI closes up by 10.28 points

KLCI closes 10.28 points up to 1206.67. CPO rose RM 70 to RM 3530. BAT jumped RM 1.50 to RM 44, KLK shot up 40 sen to RM 17.80, Asiatic rose 25 sen to RM 8.40, TMI climbed 25 sen to RM 7.

EPF contributors can get spouses or children to deposit money into their accounts from ‘
July 1, under the fund’s Beyond Savings’ initiative.

Sime Darby Property expects sales of RM 2b in next 12 months from projects in 9 townships, mostly in Nilai, Subang Jaya and Ara Damansara.

US fund FMR ILC & FIL Ltd ceased to be a substantial shareholder in Gamuda after selling 2.35 m shares.

Mayland Parkview buys 1.6m Land & General shares, ups stake to 16.25% or 97.22m

BCHB will pay US$176 m (5.9b baht) for 42% of Bank Thai Pcl. It offers to buy 2.82b shares from Thai central bank at 2.1 baht each.

19/1 Astro first quarter net loss recorded at RM 2.6m vs 31.9m net profit one year ago, weighed down by Indonesian operations. Revenue is RM 709.8m vs RM 582.95m.

Thursday, June 19, 2008

Market dropped again

19/6 KLCI closed 16.20 points down to 1196.39. All Asian markets fell. Shanghai is the worst hit, fell 6.5%. CPO fell RM 21 to RM 3,619. Banks, plantations are among the losers.

19/6 KLCI dropped 21 points or 1.7 % to 3-month low of 1,191.48 noon. Shanghai’s A share slipped 3.38%. Nikkei slid 2.5%, STI was down 1.62%, Hong Kong dropped 1.85%. CPO also slid RM 55 to RM3587。

Malaysia Steelworks gets London Metal Exchange’s nod to list its steel billets for futures contracts under Malaysia Steel Klang brand name.

Goldman Sachs sold 20 m Berjaya Corp shares on June 11, bought 158,000 shares on June 12. Total shareholding 9.29% or 279.42 m BCorp shares.

Kurnia Asia enters Thailand general insurance business, buying stake in Kurnia Insurance Thailand for RM 15.56m.

Ingress MoU with Kedah ICT Sdn Bhd, Japan’s Marubeni signed in June 2007 to develop ICT infrastructure, e-government for Kedah state has lapsed.



18/6 Btoto earnings for FY end April 30 at RM 348.66 m vs RM 375.68m a year ago, the fourth quarter net profit RM 60.76m vs RM 92.2m. Declared 9 sen dividend per share.

Wednesday, June 18, 2008

KLCI dropped 15.17

KLCI closes 15.17 points down at 1212.59. Tanjong slipped 80 sen to RM 14.60, BCHB dropped 30 sen to RM 8.50, Genting slid 25 sen to RM 5.30. CPO rose RM 20 to RM 3665.

Vehicle sales in May 47,931 units, up 25% on-year but 4.7% lower than April , says auto body. Expects fuel price hike to impact June sales.

AirAsia says it won’t raise fuel surcharge, instead will expand ancillary income from food, beverage, merchandise.

KLCI falls 17.86 points to 1,209.9 at 3.18pm. Sabah Progressive Party says to table motion of no-confidence against PM in Parliament on Monday.

This is trying time in politics. What will the PM do from now until Monday? Would the PM do something to make sure his parliamentarians would not support this motion?

Transmile shareholders approve company’s plans to offer new shares to settle debts. Share fell 18 sen to RM 1.36 at 12.30 pm in weak market.

Tuesday, June 17, 2008

KLCI closed 10.30 points down to 1227.76.

17/6 KLCI closed 10.30 points down to 1227.76. CPO fell RM 49 to RM 3678. Tanjong dropped 30 sen to RM 15.40, KNM slipped 30 sen to RM 6.20 and Tenaga slid 20 sen to RM 8.20.


Unisem, FlipChip in JV to license FCI's wafer bumping, wafer packaging technologies.  FCI to take stake in Unisem subsidiary.


Bumi Armada gets Italian oil major Eni Spa contract for 5 years to operate one billion storage capacity vessel off Nigeria.

Khazanah ups BCHB stake to 772.5m shares after buying 9m shares from June9 to 12.  EPF bought 15.5m shares from  June 6 and 9, ups stake to 374.39m.

YTL Power's 1.77 bln warrants to list Wednesday arising from the sale of rights at 10 sens per warrant on the basis of 1 warrant for 3 shares held.

Monday, June 16, 2008

16/6 KLCI closes up 8.71 points to 1238.06. CPO rose RM 41 to RM 3715. BAT increased RM 1 to RM 44.25, Tanjong rose 70 sen to Rm 15.70, Kulim jumped 30 sen to RM 9.70, TMI shot 20 sen to RM7.20.

Sarawak Oil Palms proposes bonus issue of 227.5m new shares on one-for-one basis.

Putera Capital-Melewar JV yet to get update from Sykt Prasarana Negara for Penang monorail project bid submitted in December last year.

UEM Land in talks with parties from Australia, India, US to develop Puteri Harbour project in Bandar Nusajaya.

Konsortium Logistik cuts revenue growth target to 20 % from 30% due to fuel price surge. It is buying fuel efficient trucks.

Sydney-based Platinum Investment Management buys 5m more Gamuda shares on June 6, raises stake to 7.1% or 148.48m.

Sime Darby plans to cultivate 7,000 ha in Sarawak for padi, says its Chairman.

World’s largest insurer American International Group CEO Martin Sullivan steps down and he is being replaced by the chairman Robert Willumstad.

Sunday, June 15, 2008

Scomi Group and Scomi Marine

Scomi Group has 39 operating subsidiaries and 2 operaing associated companies, the main one being Scomi Oiltools Sdn Bhd(80.1%), Scomi Engineering Bhd(71.2%) , Scomi OilServe Sdh Bhd (60%) and Scomi Marine Bhd(42.7%).


For the past few years, it is making money. In the year 2005, it makes a net profit of RM 151.69 m, 2006 it makes 84.55 m and in the year 2007, it makes 257.13 m.

It is a very impressive company.

As to the share price, it has hit the low of 78 sen on Mar 17, 2008 and again hit the low of 0.765 on June 5, 2008.

On June 13, 2008, it closed at 0.80, possibility of climbing back to 1.17 in the short term and to 1.73 and 1.97 in the medium term when the market is hot.

Scomi Marine Bhd is currently involved in two main types of businessess, namely marine logistic services and offshore support services.

The company is in the blue all these years. In the year 2005, it makes 24.26 m, 2006 it earns 80.46 m and in the year 2007, it nets 54.33 m.

It dropped to 50 sen on Mar 18, 2008 and again to the same level on June 4, 2008.

It closed at 0.53 on June 13, 2008. Short term, it might rise to 0.96, medium term, it could rise to 1.07 and even 1.23 depending on the market condition.

Friday, June 13, 2008

KLCI closed 3.8 up points to 1229.35

13/6 KLCI closed 3.8 points up to 1229.35. CPO rose RM 67 to RM3712. KLK rose 30 sen to RM 17.10, PPB went up 30 sen to RM 11, LKT rose 26 sen to RM 3.36, Asiatic rose 25 sen to RM8.25.

Welli Multi will be suspended from Monday until further notice for failing to submit reports for 3 quarters since June 30, 2007 and annual report.

Petronas Gas and Yayasan Sabah will explore the possibility to build 300mw gas power plant project in Papar, Sabah.

Khazanah says GLC transformation is 40% done and now it is in the third phase from 2007-2010. Also there are 20 GLCs earnings rose to RM 19.1b at the end of 2007 from RM 10 b in 2004.

Khazanah net worth of portolio assets falls from RM 62.2b in May 2007 to RM 53.1 b on May 31 this year, 88% of investments are in Malaysian assets.

Master Builders Association wants government including mandatory fluctuation clause for future construction contracts due to soaring material prices.

Faber gets shareholder nod to buy remaining 30% of Faber Med-Serve, boosting chances to get concessions for government hospital services renewed.

AmBank sells 5m Gula Perak shares or 0.78% on June 6, cuts stake to 94.47m.

Nomad Invest ups AirAsia stake to 130m or 5.48% bought 10 m shares from June 10 to 11. Rowe Price sold 3.2 m shares on June 6, cut the stake to 157m.

12/6 Mutiara Goodyear in JV with Tambun Indan Group for residential development project in Seberang Perai, Penang with GDV of RM 776m.

Thursday, June 12, 2008

KLCI closed 3.74 lower to 1225.54

KLCI closes down 3.74 to 1225.54. YTL Cement dropped 20 sen to RM 4.18, Lafarge down 18 sen to RM 4.24 but Transmile was up 19 sen to RM 1.53. CPO rose RM 40 to RM 3,646.00

April industrial production index is up 4.3% on year, it is below the economists’ forecast of 5.7% to 6.3 %. April manufacturing index is up 5.6% on year.

Kuok Brothers resume the buying of Transmile shares, first time since October. They bought 200,000 shares on June 6 and 9, ups stake to 48.1m or 17.8%.

Hong Leong group-controlled Guco Group ups stake in UK gaming company Rank Group to 12.68% or 49.532m shares from 46.948m.

Bursa Securities to suspend CNLT from 9am on June 20 for failing to submit revamp plan by Wednesday deadline.


11/6 Resorts, Genting among top 10 of stocks at their 52-week low. Resorts closed 9 sen lower to RM 2.90, Genting fell 20 sen to RM 5.45.

11/6 Mulpha International sees 10m shares or 0.8% stake done off-market at Rm 1 each, Gula Perak’s 8m shares done off-market at 5 sen each.


11/6 Minply MD Tan Wei Lian buys 4.46m Minply shares at 43sen each, ups stake to 14.88% or 6.54m shares.

11/6 Australian fund Platinum Investment buys more Gamuda shares, ups stake to 134.9m or 6.73% after buying 16.73m shares on June 3.

9/6 Australian-based Platinum Investment Management ups Gamuda stake to 118.17m or 5.9% after buying 12m shares on June2.

11/6 Sime fell as much as 20 sen to RM 8.90 on report of RM 120m losses in futures trade. At 9.04 am, it is down 15 sen to RM 8.95.


9/6 Petronas defers plans for 100,000 barrel-per-day refinery in Sudan due to rising costs, says Reuters report.


9/6 Oil is recorded at US$137.74 at 3.10pm after Saudi Araba Oil Minister says recent price surge unjustified.

9/6 FACTS Global Energy Crop had sees large correction in oil price in summer. It does not see oil htting US$150 to US$180 before US demand fall.

9/6 UEM Builders says the government agreed in principle on price increase for RM 4.3b second Penang Bridge due to surge in raw material prices.

9/6 KL Kepong FFB output 206,832 tonnes in May (April at 202,285), CPO 43,794 tonnes(42,185) but palm kernel falls to 9,746 tonnes(9829).

Tuesday, June 10, 2008

KLCI dropped slightly only while 12 Asian markets close lower

10/6/2008 KLCI closes just 0.02pt down at 1,230.96. Bland fell 26 sen to RM 4.06, Parkson dropped 25 sen to RM 5.55, KNM rose 20 sen to RM 6.40. CPO falls RM82 to RM 3,578.00

Hwang-DBS third quarter earnings is recorded at RM 6.5m vs RM 31.9m a year ago due to lower fees, unrealized loss from market-to-market securities held for trading.

12 Asian markets close lower. Hang Seng Index fell 4.21% or 1,026 pts to 22,375, Shanghai Composite dropped 7.73 %, Nikkei 22 down 1.1%, Singapore STI fell 1.57%.

Sime Darby ends the services of the group CFO Razidan Ghazalli, group’s vice president Muhammad Mohan Kittu Abdullah over RM 120m trading losses.

Sime Darby says the RM 120m trading losses by CFO, vice-president were made at GHope subsidiary and discovered in August 2007.

Sime spokesman says appropriate provisions made for RM 120m losses, group’s future profitability unaffected by the past losses.


PMB Technology, which exports 90% of aluminium products, cautiously optimistic about earnings this year amidst oil price surge.


Dual Review (M) Sdn Bhd sold 13.12 m Inch Kenneth shares in open market on May 20, ceased to be substantial shareholder.

Taliworks deemed interest in 25.48 m Sunway Infrastruture shares following acquisition by Cerah Sama on June 2.


9/6 KLCI closes 17.6 points lower at 1230.98. Tenaga dropped 75 sen to RM 8.25, Kulim down35 sen to RM 9.60. Oil is recorded US$137.74. CPO rose RM 63 to RM 3663.



9/6 Indonesian firm PT Kharisma Inti Persada sues Yeo Hiap Seng, subsidiary for RM 77 m over alleged breach of alleged distribution.

9/6 Bursa Securities rejects MEMS Tech bid for waiver to submit regularization plan, upliftment from guidance note 3 classification.

9/6 KUB 60% subsidiary secures RM 28.3m contract from the Education Ministry for ICT infrastructure in Selangor schools.



9/6 FACTS Global Energy Crop head sees large correction in price in summer. See oil hitting US$150 to US$180 before US demand falls.

Sunday, June 8, 2008

What happen to DBhd, PJ Dev and YTLand?

Someone ask me about these stocks?

Looking at the fundamental for D Bhd, it is making 7.64 m in 2005, 5.77 m in 2006 but loss 12.55 m in 2007. It is not impressive. Techically, it has dropped to 0.15 low on June 5 and closed at 0.165 and seems to be time to buy.

Although it is a low price stock, it is not impressive.

PJ Development

It is making 27.57 m in 2005, 28.54 m in 2006 and 42.38 m in 2007. It is impressive.

Its high on June 22, 2007 was 1.24 and now it is 0.67. The Low was 0.595 on Mar 24, 2008. It might come back to 0.595 or close to 0.595 looking at the chart.

But this is a better bet. Medium to long term would still be alright.

YTLand

It is making 43.20 m in 2005, 45.89 m in 2006 and 19.51 m in 2007.

Its high was 2.49 in July 9, 2007 and now it is 1.08 posing to move again. To what target, maybe 1.23 but long term it could challenge the 2.49.

It will move with the improved fundamental. As of now, the earning has dropped.

Friday, June 6, 2008

Market rebounded up 25.01

KLCI closed up 25.01 to 1248.57. Tenaga rose 1.70 to RM9, Kulim was up 70 sen to RM9.95, Kulim-wb rose 60sen to RM7.30. CPO futures rose RM 86 to RM 3614.


Interest rate for soft loan for SME is reduced from 4% to 2% per annum effective immediately, says International Trade and Industry Minister.


Bank Negara reserves is at all time high of RM 400.1b (US$125.2b) as at May 30, sufficient to finance 9.8 months retained imports.

LKT Industrial will not be suspended from Monday as public shareholding increased to 10.38% from May 14, Bursa Securities says.

Asian Small Companies Portfolio sold 269,800 Kossan Rubber shares from May 29-30, ceased to be substantial shareholder.

Japan’s biggest banks booked US$11.7 bil of credit losses related to US mortgage collapse in 12 months ended March 31, says Bloomberg.

6/6 Ranhill Bhd launches the takeover offer for Ranhill Utilities will buy the remaining 29.6% or 87.17 m shares at RM 3.50 each for RM 305m.

Thursday, June 5, 2008

KLCI falls 29.56 points to close near 2-month low of 1223.56.

KLCI falls 29.56 points to close near 2-month low of 1223.56. Bat dropped RM 1.75 to RM 43.50, KLK slipped 90 sen to RM16.50, Bland-LB slid 75 sen to RM4.30.

Inflation is expected to exceed 5% in June in the wake of fuel prices hike, inflation for the whole year is estimated to rise to 4.2%, says Bank Negara.


Mudajaya secures RM958m contract for KL-Kuala Expressway, Assam Jawa-Kundang-Templer Park from Bina Puri.

Shriram Capital ends talk with Idaman Unggul on proposed acquisition of Tahan stake. However, talks with Tokio Marine Asia is still on.

HWGB 51 % subsidiary gets tin mining certificate to mine at 500 acres site in Sungai Endah, Hulu Perak for 10 years.

Tenaga says the profit may fall this year as tariff increase in July is insufficient to cover all of its higher fuel costs.

Tariffs for households below 200kwh per month will remain unchanged, household using 201-400 kwh will be up 1% to 10%. Industrial users’ tariff will be up by 26%.

Wednesday, June 4, 2008

KLCI closed 4.45 points to 1253.12

KLCI closes 4.45 points to 1253.12. BJland-LB dropped 45 sen to RM 5.05, Asiatic slipped 35 sen to RM 8.00, Tanjong slid 30 sen to RM 15.90, MMC dropped 20 sen to RM 3.40. However, Tenaga rose 30 sen to RM7.30.

LFE Corp sells all its SunInfra shares of 25.48 m shares at 21 sen each for RM 5.34m.

Mayland Parkview raises Land & General stake to 94.47m shares or 15.79% after buying 1.78 m shares from May 21 to 28.

Kulim bought 2.53m Sindora shares or 2.64% from open market on May 29 to 30, raised stake to 70.43m shares.

IT-based Innity Corp will issue 17m new 10 sen shares of 55 sen each under IPO. 10m shares will be placed out, 4.25m for staff, 2.75m for public.

Tuesday, June 3, 2008

KLCI dropped 4.92 points to close at 1257.57.

KLCI dropped 4.92 points to close at 1257.57.

A new fuel subsidy scheme will be announced on Wednesday and will take immediate effect to prevent speculations, said PM Abdullah Ahmad Badawi.

Shahrir Samad said that the subsidy scheme on fuel will be unveiled in stages, however, the final implementation will be in August. Retail prices would still depend on global market.

PM Abdullah suggests to the international community to consider stopping the trade in crude oil futures to prevent speculative bidding.

Malaysian Plastic Manufacturers says that it will pass on the costs of higher plastic resins to intermediate users and retailers. Resins was up by 20% since January.

Airasia wants a level playing field. It wants more flights to Singapore from Penang, Kota Kinabalu and Kuching.

WCT Engineering says the 9-ha Platinum Plaza project in Vietnam is on track which will be ready by 2014. It has not budgeted the revenue contribution over the next 2 years.

April trade exports are up by 20.9% to RM 55.8b from a year ago, imports are up by 10% to RM 44.32b. Trade surplus surge to RM 11.48b, up 95.8% on year to year basis.

Goldman Sach ceases to be the Green Packet substantial shareholder after selling 1.23m shares on May 23. It sold 2.1m shares from May 16 to May 22.


The World Association of Newspapers said that the global newspaper circulation is up by 2.6%, buoyed by Asia and South America sales and despite slump in the US and Europe.

The global sales of semiconductors are up by 5.9% to US$21.2b in April from US$20.1b a year ago but flat compared with US$21.2 b in March this year.


Kamdar withdraws the proposed dividend of 5% per share, up for shareholders’ nod at AGM, after the trustees of its RM 60m bonds rejected the proposal.

Monday, June 2, 2008

KLCI closes 13.61 points down at 1262.49

KLCI closes 13.61 points down at 1262.49. DIGI dropped 1.60 to RM 24.90, MPI was down 55 sens to 7.30, KLK slipped 40 sen to 17.30, Parkson slid 30sen to 5.80. CPO rose RM15 to RM 3514.

The government abolishes the ceiling price for cement in local market. Therefore, the importers need to pay 10% of import duty. Cement counters will be the focus of market attention tomorrow.

Harris Associates up Media Prima stake to 46.57m shares after buying 4.79m shares from May 23 to 28.


RHB Capital is looking to expand the banking operations regionally including Vietnam and Indonesia, says the Group MD.

Malaysia Steelworks (KL) Ltd (Masteel) is to appeal against Federal Court’s decision that allowed Mukand’s claim of US$206,639(RM 656,532).

Bursa Securities rejects the Golden Plus request for more time to submit first quarter results. Shares was suspended from trading in the morning. In the afternoon, when it resumed trading, it opened at 2.15. At closing, it dropped 10 sen to 2.12. It sees the emergence of a new substantial shareholder, Lai Su-Chen with 7.42 m shares or 5.06% as at May 27.

BSA defaults on interest payments due last Friday on loans, debt notes totaling RM 145m. It says that it is affected by the rise in raw materials.



26/5 Natural rubber futures in Tokyo went up 3.6% to US$3309 per ton at highest since April 1980 as China may buy more. CPO rose RM 37 to RM 3691.

26/5 Octagon CEO Mazlan Ali buys 7m shares in May 21, ups stake to 22.42m shares or 13.45%. Premium Vector sold 4m shares, cutting the stake to 8.36%.