Stock Market Books

Friday, August 29, 2008

2009 budget highlights

29/8 Government will pay one month bonus to civil servants, minimum of RM1000 to be paid in 2 installments in September and December.

29/8 Government will reduce tax rate on dividends for REITs received by individuals reduced to 10% from 15%.

29/8 Government will reduce tax rate on dividends for REITs received by foreign institutional investors to from 20% to 10%.

29/8 No import duty and sales tax on solar photovoltaic system equipment, insulation materials, locally produced solar equipment, air-cons, fridges.

29/8 Government will provide tax exemption on fees received by domestic intermediaries who list foreign firms, foreign investment products on Bursa.

29/8 Government will reduces highest marginal income tax for individuals from 28% to 27% effective 2009. Marginal tax rate cut to 12% from 13 %.

29/8 Excise duty on cigarettes will be raised by 3 sen from 15 sen per stick to 18 sen. As such, duty for a 20-pack cigarettes will be increased by 60 sen.

29/8 RM 35 bil is allocated for between 2009 and 2014 to improve public transportation, including upgrading rail services, new tracks and more buses.

29/8 Tax exemption will be given to employees for interest subsidies on housing, motor vehicles and education loans up to a total of RM 300,000.

29/8 Government proposes venture capital companies that invest at least 30 % of funds in start-up, early stage, will get 5-year tax exemptions.

29/8 Government will cut toll charges by 50 % for buses, except border points, for 2 years from Sept 15. Government will compensate toll operators RM 45m yearly.

29/8 Road tax on private passenger vehicles with diesel engines will be the same as those with petrol engines from September 1 2008.

29/8 Interest income will be exempt from tax to reduce burden of those dependent on interest income from savings.
29/8 Travel allowance for commuting to work provided by companies will be given full tax deduction. Tax exemption for staff is allowed up to RM 2400 per year.

29/8 Eligibility criteria for welfare and based on household income, raised from RM 400 to RM 720 in peninsula, RM 830 in Sarawak and RM 960 in Sabah.

29/8 Government proposes tax rebate increase to RM 400 from RM 350 for those with taxable income of RM 35,000 and below.

29/8 Retired civil servants with 25 years service will get pensions of not less than RM
720 per month, effective Jan 1, 2009. 75,000 retirees will benefit from this scheme.

29/8 GDP will grow 5.4% next year, Services 6.9 %, manufacturing 4.3%, construction 3.1% agriculture 3.7 %, mining 3.4 %.

29/8 GDP will grow 5.7 % this year, Agriculture 5.7%, mining 3.6%, manufacturing 4.7%, construction 4%, services 7.1%.

Budget 2009 highlights

29/8 Sabah will get RM 580 million for upgrading of power, water and rural roads, Sarawak is allocated RM 420 million.

29/9 Government will reduce import duties on various consumer durable from between 10% and 60% to between 5% and 30%.

29/8 Current tax rebate of RM 350 per person raised to RM 400 for those with taxable income of RM 35,000 and below, 100,000 to be out of tax net.

29/8 To improve public transportation, RM 35b will be spent from 2009-2014, including improving rail tracks.

29/8 Government proposes 50% stamp duty exemption to loan agreements for medium cost houses up to RM 250,000. Now this is only for low-cost houses.

29/8 Government servants will get free airfares to home states between peninsular Malaysia and Sabah and Sarawak yearly, effective Jan 1, 2009.

29/8 Civil servants will get bonus of one-month salary, subject to a minimum of RM 1000, to be paid in two installments – in Sept and Dec 2008.

29/8 Toll charges for all buses to be cut by 50%, except at border entry points for a period of two years, effective 15 Sept 2008.

29/8 Government proposes venture capital companies that invest at least 30% of funds in start-up, early stage, to get 5-year tax exemption.

29/8 Exemption of 100% import duty and 50% excise duty on new hybrid CBU cars below 2000 given to franchise importers for two years.

29/8 Fate of Maybank’s takeover of Bank International Indonesia is in Malaysia’s hand, says Indonesian regulator, and will not make exceptions.

Thursday, August 28, 2008

KLCI closed up 2.8 points to 1,070.46

28/8 KLCI closed +2.8pt to 1,070.46. CPO +RM2 to RM2,500. Orient +25c to RM5.50, Tanjong +20c to RM12.80, Btoto +16c to RM4.60, MSC -35c/STARBIZ

28/8 KLCI +4.15pt to 3.32pm. Oil $119.14, CPO +RM42 to RM2,542. BAT +25c to RM39.50, Tanjong +20c to RM12.80, Bursa +15c to RM6.75/STARBIZ

28/8 Muhibbah Engineering 2Q net profit RM21.53m vs RM18m year ago. Revenue RM454.4m vs RM347.3m. EPS 5.64c vs 4.81c/STARBIZ

28/8 PPB Group spent RM130m in 1H out of RM313m capex for 2008. For next year, capex to be around RM200m to RM300m/STARBIZ

28/8 KLCI +3.78pt to 1,071.43 noon. CPO +RM3 to RM2,505. Oil $118.95. BAT +25c to RM39.50, Tanjong +20c to RM12.80, Ann Joo +14c to RM3.30/STARBIZ

28/8 KLCI +2.73pt to 1,070.38 at 9.09am. Tanjong +20c to RM12.80, PacMas +12c to RM4.70, Kulim +10c to RM7.65, KLK +10c to RM11.60/STARBIZ

28/8 The Dow +89.64 points to 11,502.51; Light sweet crude at US$118.15, +US$1.88 a barrel/STARBIZ

27/8 Proton in the black with 1Q net profit RM58.7m vs net loss RM48.84m yr ago due to domestics sale volume growth. Revenue 1.7b vs RM1.4b/STARBIZ

27/8 Proton turns around with 1Q net profit RM52m vs net loss RM46.7m yr ago due to domestic sales growth. Revenue 1.7b vs RM1.4b/STARBIZ

27/8 Proton in the black with 1Q net profit RM58.7m vs net loss RM48.84m yr ago due to domestics sale volume growth. Revenue 1.7b vs RM1.4b/STARBIZ

27/8 Liqua Health to lodge report with police, SC against several persons named in investigative due diligence report in 2007 distribution deal/STARBIZ

27/8 Maybank 4Q net profit RM703.2m vs RM1.05b yr ago due to RM483m provision. Proposed dividend 20c. FY08 net profit RM2.93b vs RM3.18b/STARBIZ

27/8 Maybank 4Q net profit RM703.2m vs RM1.05b yr ago due to RM483m provision. Proposed dividend 14.41c. FY08 net profit RM2.93b vs RM3.18b/STARBIZ

27/8 KLCI closed -2.85pt to 1,067.65. CPO +RM20 to RM2,429. Sime +15c to RM6.60 but DiGi -50c to RM22.90, KLK -30c to RM11.50, Maybank -20c/STARBIZ

28/8 UEM World 2Q net profit falls to RM19.6m from RM498m yr ago due to land sale to Khazanah in June 07. Revenue RM1.43b vs RM2.87b. EPS 1.41c/STARBIZ

Tuesday, August 26, 2008

KLCI closed 8.23 points down to 1070.50

26/8 KLCI is down by 8.23 to close at 1070.50.

26/8 IOI Corp -22c to RM4.78 at 10.40am. IOI Corp won bid to buy Menara Citibank. Pending pricing details, analysts slightly negative on deal/STARBIZ

26/8 Gek Seng Assets Ltd bought 5.4m Inti Universal shares from open market on Aug 21, ups stake to 15.9m shares or 7.73%/STARBIZ

26/8 Hap Seng Consolidated 2Q net profit jumped to RM145mil or 25.8sen per share vs RM41mil (7.1sen) a year ago; Revenue at RM921mil vs RM572mil/STARBIZ

26/8 KNM Group 2Q net profit up RM96.3mil or 9sen per share vs RM37.08mil (3.58sen) a year ago; Revenue RM599mil vs RM262mil on acquisition/STARBIZ

26/8 KLCI -10.5 pt to 1,068.23 noon. CPO -RM120 to RM2,480. BJLand-LB -46c to RM3.90 (100 shares), Tenaga -25c to RM7.95, BCHB -25c to RM7.90/STARBIZ

5/8 Bank Negara leaves overnight policy rate unchanged at 3.5%, sees domestic inflation to remain high for rest of 2008, early 2009/STARBIZ

Friday, August 22, 2008

Market rebound

22/8 KLCI closed up 14.71 points to 1085.60. CPO increased RM 60 to RM 2,713. Oil is recorded at $120.7, Ringgit 3.3415 to US$1. KLK jumped 50 sen to RM 12.20, IOI Corp increased 31 sen to RM 5.15.

22/8 July inflation rate surged 8.5% on year, fastest in more than 26 years, due to higher food, fuel and electricity costs.

22/8 US-based Level Global Oversea Master Fund sold 15m Johstreet shares in the open market on Aug 15, 2008, ceased to be substantial shareholder.

21/8 PLUS toll revenue up 29.6% to RM 738m in second quarter ended June 30, includes RM 180m toll compensation. But second quarter net profit fell 14 % to RM 266m.

21/8 KLCI closed down 1.78 point to 1071.43. CPO increased RM 57 to RM 2,648. Seacera dropped 27 sen to 28 sen, Edaran slid 26 sen to 53.5 sen, DiGi dropped 20 sen to RM 23.60, MAS slipped 16 sen to RM 3.38.

21/8 SC now allows up to 70 % foreign shareholding in REIT management companies from 49% since 2005, more flexibility to manage portfolio mix.

21/8 Panasonic Malaysia will boost R&D, quality control for manufacture of small household appliances.

22/8 RM 1.75 bil Kajang-Saremban Highway to be open from 6am tomorrow, free use until Oct 4, toll rate will be announced after Cabinet approval.

Monday, August 18, 2008

KLCI fell 14.96 points to 1069.40

19/8 The KLCI fell 14.96 points to 1,069.40 at midday with 193 million shares traded; top losers DiGi (-50sen), Glenealy(-28sen), BAT(-25 sen)

Thursday, August 14, 2008

KLCI closed 3.10 points down to 1109.43

KLCI closed 3.10 points down to 1109.43. Oil is priced at US $117.12. CPO rose RM 88 to RM 2636. BCHB eroded 45 sen to RM 8.10, DiGi dropped 20 sen to RM 23.80, TMI slipped 15 sen to RM 6.20.

Shell Refining second quarter earnings is recorded at RM 357 vs RM 168m a year ago. Earning boost from after-tax stockholding gain of RM 281m. Revenue is recorded at RM 3.9 b vs RM 2.89b.

Independent power producers said would pay first month installment of more than RM 40 m due to government today under windfall tax.

BCHB second quarter net profit is recorded at RM 650.14m vs RM 660.34 a year ago. Revenue is RM 2.157 b vs RM 2.465b. It sees ROE for 2008 at 16%, lower than earlier 18% target.

Perisai Petroleum MD Nagendran Nadarajah bought 2.6m Perisai shares on Aug 12, ups stake to 22.9% or 47.67m shares.

Tuesday, August 12, 2008

KLCI fell 6.25 points to close at 1112.50

13/8 KLCI closed 6.25 points down to 1112.50. CPO rose RM 21 to RM2,582. DiGi eroded 60 sen to RM 24, BAT slipped 25 sen to RM 39.75, BCHB slid 25 sen to RM 8.55, Tanjong jumped 20 sen to RM 13.10.

13/8 The KLCI fell 10.38 points to 1,108.40 at midday; top losers were DiGi (60 sen), Bumiputra-Commerce(25sen) and KFC(25 sen).

13/8 AsiaEP COO Lee Suet Hong sold 3m AsiaEP shares from Aug 5 to 12 ranging from 10.5sen to 11.5sen. Cut stake to 19.29% or 46.66m shares.

11/8 Zeti: US dollar strengthening against major currencies. BNM will only intervene to maintain orderly market conditions. RM 3.3175 to US 1 at 11:25am.

KLCI closed down 8.68 points to 1118.78

12/8 KLCI closed down 8.68 points at 1,118.78. CPO fell RM 110 to RM 2,561. Oil fell $ 1.39 to $113. Tanjong eroded 40 sen, KLK is down 30 sen, Asiatic dropped 25 sen, EON Cap down 16 sen.

12/8 KLCI falls 8.33points to 1,119 noon. CPO eroded RM 16 to RM 2,655. Oil is recorded at US $113.95. Tanjong is down 20 sen to RM 13.10, KLK slid 20 sen to RM 11.80, Maybank slipped 15 sen to RM 7.65.

AMMB first quarter net profit up 12 % to RM 203m vs RM 181m a yer ago. Revenue is recorded at RM 1.4b vs RM 1.46b. Net lending up 10.6% on annualized basis.

Boustead Heavy Industries second quarter net profit is recorded at RM 34.44 vs only RM 1.5m a year ago. Revenue is RM 111.4m vs Rm 27.5m, boost from shipbuilding. EPS 13.87sen.

UMW subsidiary secures RM 565 m contract to supply drilling rig off Sarawak to JV of Petronas Carigali, Petrovietnam, Pertamina.

SC agrees Oilcorp accounts fro FY 2007 to be-audited by another auditor to determine cost, profitability of project.

Monday, August 11, 2008

KLCI closes up 7.17 points to 1127.46

11/8 KLCI closes up 7.15 points to 1,127.46. Ringgit is down to 3.316 to US$1. CPO is down RM 105 to RM 2,674. DiGi rose 30 sen to RM 24.60, Maybank jumped 25 sen to RM 7.80, BCHB shot up 25 sen to RM 8.85.

11/8 JAKS secures additional RM 195m project for submarine pipeline from Beaufort water treatment plant to Labuan.

11/8 China Three Gorges Project Corp. completed comprehensive review of design for Murum dam project and implementation, says Sarawak Energy.

11/8 Zeti says inflation to moderate in second half of 2009, Bank Negara monitoring second round impact of inflation.

Friday, August 8, 2008

KLCI closed down 9.25 points to 1,120.31

8/8 KLCI closed down 9.25 points to 1,120.31. CPO eroded RM 24 to RM 2,821. Oil slipped US$1.81 to US $118.21. KLK dropped 40 sen to RM 12, DiGi slid 30 sen to RM 24.30, BCHB dropped 30 sen to RM 8.60.

8/8 Malaysian Rating Corp ups inflation forecast to 5.8% for this year from earlier 5%. Sees increasing risk of higher overnight policy rate.

Restricted offer of 101.47m Perwaja shares to Kinsteel shareholders oversubscribed by 24.5% received applications for 126.37 m shares.

US dollar surges to 5-month against euro, 17-month high vs pound as global slowdown weighs on currencies. US dollar is recorded at RM 3.295

NPC major shareholder Koh Kin Lip ups Daya Materials stake to 42.71 m or 8.68% after buying 15m Daya shares at 36 sen each on Aug 5, 2008.

Thursday, August 7, 2008

Anwar Ibrahim pleaded not guilty on sodomy charge

Anwar Ibrahim has pleaded not guilty in the KL Sessions court to a charge of sodomising former aide Saiful Bukhari Azlan on June 26, 2008.

Anwar Ibrahim released on personal bond of Rm 20,000 without surety, case set for mention on Sept 10, pending transfer to High Court.

Roadblocks cause massive jams on roads leading to Jalan Duta court complex where policemen in uniform and plainclothes are stationed everywhere.

KLCI closed 4.03 points to 1129.56

KLCI closed 4 points to 1,129.56. Jtiasa eroded 58 sen to RM 3.26, Maybank dropped 20 sen to RM 7.70, PBBank-F slipped 20 sen to RM 10.10, KLK increased 50 sen to RM 12.40, IOIcorp jumped 19 sen to 5.05.

KLCI eroded 12 points to 1,121.5 noon. CPO dropped RM 34 to RM 2,756, off the low of RM 2,735. Ringgit at 6 month low of 3.284 vs US$1. Jtiasa slipped 58 sen and Maybank dropped 25 sen.

7/8 Bursa Sercurities orders Haisan, KBES to have external auditors carry out limited review for 4 quarters. It wants more details.

7/8 Nor Mohamed says no windfall tax on tolled road operators. On Maybank-BII deal, he says it is not for MOF to intervene as it is commercial agreement.

Fortis Investment ceases to be Scomi substantial shareholder after selling 3.54m shares on Aug 21 and 22, cut stake to 49.34m or 4.83%.

7/8 AIG reports US $11b investment losses and write-down related to credit default swap portfolio in second quarter. Net loss in second quarter is recorded at US$5.6b.

Wednesday, August 6, 2008

KLCI closed 4.73 points up 1133.59

KLCI closed 4.73 points up to 1133.59. CPO eroded RM 18 to RM 2,732. Jtiasa jumped 60 sens to RM 3.84, BCHB increased 20 sen to Rm 8.95, KLK dropped 50 sen to Rm 11.90, sime slipped 35 sen to RM 7.15.

KLCI rose 5.81 points to 1,134.67 midday Oil is recorded at US 118.40 per barrel, CPO fell RM 21 to RM 2729. BCHB jumped 25 sens to RM 9, KFCH increased 20 sen to RM 6.30 but KLK slipped 60 sen to RM 11.80.

6/8 KLCI jumped 3.93 points to 1,132.8 at 9:11 am. Oil is recorded at US $118 a barrel. US Fed kept interest rates unchanged at 2 %. DiGi rose 25sen to RM 25.25, PBBank increased 10 sen to RM 10.10, KLK eroded 50 sen to 11.70.

6/8 Maybank board, top management should take responsibility should bank lose RM 480 m deposit in Bank Indonesia deal, says MSWG.

6/8 MasterCard holders from Singapore spent US$1.1 m over 3 days during Malaysian Mega Sale Carnival, says MasterCard report.

JT International second quarter net profit is recorded at RM 28.9 m vs RM 21.3m a year ago. Revenue is RM 262.7m vs RM 204m. EPS 11 sen vs 8.10 sen. No dividends declared.

5/8 Axis REIT aims to up portfolio size by RM 180m in FY ending June 09 from RM 690.9m. Seeks to buy 3 assets worth Rm 240m.

Tuesday, August 5, 2008

KLCI closed 19.82pt to 1128.86.

5/8 KLCI closed 19.82pt to 1128.86. CPO eroded RM 174 to RM 2,716 per tonne, oil slipped US$ 2.65 to US $118.78. KLK dropped 80 sen to RM 12.40, MMC slid 61 sen to RM 2.12.

5/8 Armed Forces Fund (LTAT) pre-tax profit is recorded at RM 1.5 b for FY end Dec 07, an increase of 45.1% from RM 1 b in 2006. Declare dividend, bonus of 16 % totaling RM 552m.

5/8 Pharmaniaga, Kazakh firm call off healthcare projects plan in Kazakhstan due to differences in key commercial terms. MoU signed on July 30.

5/8 Indonesia central bank raised lending rate by 25 basis points to 9% says news report. CPI rose 11.9% in July.

Monday, August 4, 2008

4/8 KLCI closed 10.42 to 1148.68.

4/8 KLCI closed 10.42 to 1148.68. CPO fell RM 94 to RM 2,856. KLK eroded 50 sen to RM 13.20, Nestle slid 25 sen to RM 26.75, Tenaga dropped 20 sen to RM 8.30.

4/8 Government will widen Budget deficit outlook for 2008, says report quoting Nor Mohamed who sees inflation will be peaked in July and August.

4/8 Jaks gets RM 122 m contracts to build Beaufort water treatment plant Phase II and associated works.

4/8 June exports rose to RM 58.23 b, up 18.4% on year, imports rose 12.1 % to RM 45.16b. Trade surplus has increased 47.7% to RM 12.9b.

Perwaja Holdings, to list soon, posts RM 147.4m net profit on RM 655m revenue for second quarter ended June30. First half profit is RM 222.62m on RM 1.13b revenue.

Sunday, August 3, 2008

Tony Pua speaks in a seminar on August 3

Tony Pua talked about the economics matters on August 3 in seminar jointly organized by SCS Seminars and Consultation services and Persatuan Mahasiswa-Mahasiswa Taiwan National Normal Universiti Selangor, Malaysia.

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Look at the crowd.

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Friday, August 1, 2008

KLCI closed 3.99 down to 1159.10

1/8 KLCI closed 3.99 points to 1,159. CPO eroded RM 95 to RM 2,955, Oil is recorded at US $122.98 per barrel. NSOP slipped 20 sen to RM 4, Kinst-WA slid 20 sen to RM 1, BHIC dropped 12 sen to RM 4.39, Axis eroded 4.5 sen to 0.305.

1/8 Ye Chiu Metal MD, ED launch RM 58 m takeover for remaining 29m shares or 35% at RM 2 each, plans to delist. Shares last traded RM 1.51.

1/8 TM Intl expects 15% of net profit from Indian ops by 2012 after merger of Spice, Idea Cellular. TMI jumped 5 sen to RM 6.40 at noon.