Stock Market Books

Friday, September 26, 2008

Khazanah buys more UEM world's shares

26/9 Khazanah Nasional buys 11.44m UEM World shares from open market on Sept 18-19, ups stake to 923.5 m shares or 66.53%.

26/9 Bank Negara reassessing BII deal due to current financial turmoil, concern over post acquisition financial projections on Maybank. It wants Maybank to obtain new agreement on purchase price for BII deal to ensure no substantial impairment.

26/9 The Dow ended at 11,022.06, up 196.89 points in overnight session; Crude oil rose US$2.29 to US$ 108.02 a barrel.


22/9 Government will not re-peg the ringgit and is committed to allowing the market to determine value of the ringgit, says Finance Minister Najib.

22/9 Selangor government reviewing Kannalter’s broadband network concession deal valued RM 400m, may reduce sites installation, says exec chairman.

Thursday, September 25, 2008

KLCI down 3.66 to close at 1024.74

25/9 KLCI closed down 3.66 points to 1024.74. CPO was down RM 38 to RM 2280, SPO-WA eroded 45 c to RM 1.60, Tenaga slipped 30 c to RM 6.70, Parkson slid 18 c to RM 3.94, Nestle dropped RM 1.


25/9 SC approves Nomura application to set up stock-broking operations. Nomura is to promote intermediation of funds from Middle-East to Malaysia.

25/9 Berjaya Corp first quarter earnings is recorded at RM 33m vs Rm 136.47m a year ago due to absence of one-off gains, revenue RM 1.49m vs RM 565m, EPF is 0.86c vs 4.2c.

25/9 SP Setia third quarter net profit slips to RM 40.86m from RM 53.77m a year ago, revenue is recorded at RM 302.4m vs RM 294.64. EPS is 4.02c vs 5.33 c.

25/9 Encorp gets RM 130.8m contract from Ircon International of India to build stations for electrified double track project from Seremban to Gemas.

24/9 Gamuda net profit RM 325 m for FY ended July 31, up from RM 185.4m a year ago. Revenue is recorded at RM 2.4 b vs RM 1.5b. EPS is 16.27 c vs 10.86c. Fourth quarter profit is RM 70 m.

24/9 Petra Enercy secures RM 1.1b contract from Shell to provide maintenance for offshore oil and gas facilities off Sabah, Sarawak.

24/9 August CPI rose 8.5% from a year ago and it was also higher by 0.2% from July, says government.

24/9 BCHB holds 18.97 % or 15.4m shares of Foremost Holdings after debt equity conversion by CIMB.

24/9 Overnight Dow was down 161.52 points to 10854.17; Light sweet crude for Nov delivery at US$106.61, down US$2.76 a barrel.

23/9 Malaysia’s current account balance showed RM 37 bil surplus and overall balance of + RM 26 bil in the second quarter; ( RM 24 bil, RM 49bil in the first quarter respectively.)

Wednesday, September 24, 2008

Stock:TSH Resources buys Sinora shares

25/9 TSH Resources buys 12.5m Sinora Industries shares or 12.5% stake via restricted issue on Sept 15, ups stake to 22.5m shares.

25/9 Overnight Wall street was down 29 points to 10,825.17; Crude oil on Nymex at US $105.73, down 88 cents.

Friday, September 19, 2008

KLCI made a come back

19/9 KLCI closed 34.04 points up to 1025.70. Tenaga rose 65 c to RM 6.90, TMI jumped 60 c to RM 6.55, BCHB flied 50 c to RM 7.60, Tanjong jumped 40 c to RM 12.80.


19/9 AIG group GM at Singapore life insurance unit, Mark O’Dell has resigned. Resignation not linked to recent developments at AIG, insurer said.

19/9 Wall Street rose 410.03 to 11,019.69; Light sweet crude is quoted at US$97.88, up 72 cents.

19/9 MISC secures USD 85m to USD 100m contract from Petronas Carigali to provide bareboat charter, maintenance floating storage in Dulang field.

19/9 Acoustech in final talk with several car manufacturers to supply speaker units, expects this to be next growth area, says Acoustech director.

19/9 Karpal Singh files RM 10 mil defamation suit against Utusan Melayu (M) Bhd for allegedly misquoting him in statement about Islam at DAP Congress.

Wednesday, September 17, 2008

AIG gets $85B loan from US government

17/9 AIG averts financial collapse after accepting $85b loan from US govt, which will take up 79.9% stake, AIG senior manager, CEO to resign.


17/9 Wall Street was up 141.51 points to 11,059.02; Crude oil at US$91.15, eroded US $4.56 a barrel.

16/9 Bank Negara reinstates nod to Maybank to buy Bank Internasional Indonesia provided Bapepam agrees to sell-down rule.

16/9 Maybank says Bapepam informed of possible extension of timeframe for 20% refloat after buying Bank Internasional Indonesia.

16/9 SapuraCrest Petroleum second quarter net profit RM32.1m vs RM 11.2m a year ago, revenue RM 903m vs Rm 570.5m, boost from drilling, marine services. EPS 2.73c

16/9 Securities Commission rejects Kzen Solutions proposed acquisition of Izzinet for RM 150m waiver for MGO, share placement.

Friday, September 12, 2008

KLCI is up 2.96 to close at 1044.03

12/9 KLCI is up 2.96 to close at 1044.03. CPO rose RM 66 to RM 2,375. Oil is up $1.16 to $102. Tanjong jumped 40 c to RM 13.40, Tenaga-LA rose 22.5c to RM 1.03 but Tenaga dropped 70 c to 7.20.

12/9 DJIA closed higher by 164.79pt or 1.46%to 11433.71as Lehman Brothers shopped itself to possible suitors.  Oil fell to $101.33.

12/9 Vastalux dropped 15 c to 60 c at 11am. Executive Director unfazed by weak debut, sees recovery when market picks up due to good fundamentals, prospects.

12/9 Arisaig Asean Fund Ltd sold 7.7m Pelikan shares on Sept 5, ceased to be substantial shareholder. Stake reduced to 13.23m

12/9 Bursa Securities reprimads Thong Guan Industries, Pentamaster, ordered their external auditors to review quarterly reports for fourth quarters.

Thursday, September 11, 2008

KLCI closed 1041.07 down 21.63

KLCI is down by 21.63 to close at 1041.07.Oil dropped 94c $101.64, Kulim slipped 65 c to RM 5.95, Kulim-WB eroded 62 c to RM 3.90, Parkson dropped 40 c to 4.20.

11/9 Cabinet suspends power purchase agreement renegotiations, pending study into revamp of power supply industry.

11/9 Cabinet discontinues windfall profit levy on IPPs with immediate effect, instead IPPs will have to make a one-off payment equivalent to one year.

11/9 Vastalux Energy, whose public offer was under-subscribed and due to list on Friday, is given until March to comply with public shareholding.

11/9 US based Laureate Education, via Future Perspective, bought all the 34.35m Inti shares traded Wednesday at RM 1.20 each, ups stake to 67.7%.

11/9 Harrisons minority shareholders reject revised RM 1.45 offer from Bumi Raya, seek revised offer of between Rm 4 to RM 5.



11/9 Astro posts RM 247.32m net loss in second quarter on revenue of RM 742m. First half net loss is recorded at RM 249.9m on revenue of RM 1.45b.

11/9 MetTube launches takesover of Metrod, seeks to buy the remaining 48.6% at RM2.90 per share. Share price jumped 28 c to close at RM2.99.

11/9 IJM Land in talks with parties for mixed property development in China in second-tier cities, expects China to contribute to earning in 3 to 5 years.

11/9 Lehman Brothers posted biggest loss in 158-year history with US $3.9 b loss in third quarter after writing-down of US $ 5.6 bil. Analyst forecast US$2.2 b loss.

11/9 DJIA closed up 38.19 points or 0.34 % at 11,268.92, boost from energy shares, positive outlook from Texas instrument. Oil fell 49 c to $103.07.

10/9 Key West subsidiary Times Telecom filed draft listing application with Canada’s TSX Venture Exchange. Shareholders to get 90 m TTI shares.

9/9 NW Multi expects RM100m sales from Shah Alam Memorial Park this year, sees 10% increase in net profit.

4/9 TA Enterprise buys Coast Whistler Hotel in Canada for RM 107m, financed by loan, own funds. It is hoping to get visitors for 2010 Winter Olympics.

4/9 EPF ends talks with potential buyers for part of its RHB Cap stake after share price fell, Bloomberg quotes EPF CEO Azlan as saying.


3/9 EPF reports RM 5.2b investment income in second quarter up 26.3% from previous quarter. Bulk of income from equities is recorded at RM 2.1b, up from RM RM 1b.

2/9 TM accepts letter of award from government to carry out high speed broadband project. TM is to invest RM 8.9b and the government is to invest RM 2.4b.

2/9 Bursa Securities allows Wonderful Wire & Cable until Nov 30 to submit regularization plan or face delisting.

2/9 Ranhill fell 13.5 c to 89.5 c with 6.3m shares at 11am after RM 720m net loss in fourth quarter on provision fro Melut Oil Basin totaling RM 556m.

Monday, September 8, 2008

钟观涛(吴继宗)9月8日在光明日报对大马股市的解读

整個市場都在等候916的發生,安華較早時宣佈會有議員跳槽民聯,而新的政府會因此產生。

有人說,現在正是買入的時候,因為916一旦發生,就會有基金進場扯購,把市場推高。

拿督斯里安華依布拉欣,目前已經是反對黨領袖,人們正在期望,他可以爭取到國陣議員加盟民聯而執政。
但假如916沒有發生,安華的個人信譽便大受打擊。

國陣這邊也有準備,雖然首相兼國陣主席拿督斯里阿都拉聲明國陣議員從本月7日至19日組團到外國考察,與人民聯盟916奪權事件毫無關聯。

他形容這是很小的事情,這些議員又不是有意跳槽或離開國陣,“他們要出國就讓他們出國,我不明白民聯總會有這麼多異議?”

他是回應人民公正黨顧問拿督斯里安華依布拉欣的指責,安華指國陣政府在上述期間讓國陣議員出國考察,是要破壞人民聯盟的奪權計劃。

上述海外考察團是由國陣後座議員俱樂部主辦,行程未定,但根據據道,已有超過50名國陣議員報名參加這項活動。而東馬也有85%議員表明參與的意願。

代表團可能考察的地點包括中國、澳洲和歐洲,考察的項目據說是關於農業領域的發展。

假如最壞的事情發生。國陣會怎樣?

國陣會變作反對黨,假定馬華、民政及國大黨都沒有變節。重建巫統及國陣的重擔便落在拿督斯里納吉身上,假定916國陣失去了政權。

幾乎可以肯定的巫統的土著份子會離開巫統,因為他們已經沒有機會取得合約,特許權及執照。

事實上,失去政權可能是把政黨金錢政治連根拔起的萬靈丹;因為金錢政治文化已經蝕食政黨的靈魂。

如果916沒有變天,則巫統及國陣擁有4年的時間把事情糾正,他們擁有空間制定政策,以贏回非馬來人的選票,以及贏回傳統的馬來票。

馬股或大力反彈
***************

在等待916變天時,我們可以買甚麼股呢?

有人說,916變不變天,股市應該會大力反彈。

那麼,股友可以買入馬幣回跌贏家如(1)高產尼品(KOSSAN,7153,主板工業產品組),(2)頂級手套(TOPGLOV,7113,主板工業產品組),(3)國際船務(MISC,3816,主板貿服組),(4)森那美(SIME,4197,主板貿股組),(5)友力森(UNISEM,5005,主板科技組)。

汽油和柴油價格下調15仙,下一輪調降可能落在10月,那麼受惠的是什麼股項:
(1)南北大道(PLUS,5052,主板貿服組)是主要贏家,(2)環城大道(LITRAK,6645,主板基建計劃組)也會受惠。

公積金局收緊海外投資
***********************

全球金融市場動蕩,大馬僱員公積金局(EPF)將緊勒海外投資方案保全資本,今年海外資產增至40億美元計劃暫時喊停。

相信公積金局會轉而在本國投資,因此可以注意該基金的動向。

目前,基金規模達3280億令吉的公積金局高達950億美元資產投資於國內,其中三份之一為政府債券,其餘40%和22%則為企業債券和貸款以及股票。

還有什麼股可以投資?

海聯國際(SEALINK,5145,主板工業產品組)準備晉入修船業,修理船隻是有利可圖的行業,因為本區域缺乏船塢。該公司必須花費1000萬至2000萬令吉,在美里瓜拉峇朗建立船塢。目前該公司的修船業務佔集團的74%收入,租船業務則佔26%。

美失業率6.1%寫5年新高
***********************

美國道瓊斯工商指數上週五升32.73點,報11220.96點。納斯達克指數跌3.16點報2255.88點。

美國失業率在8月份升至5年來新高的6.1%,僱主減掉8萬4000份工作。

至今為止,已有60萬5000人失業。

美國政府已經制定一個拯救Fannie Mae及Freddie Mac的計劃及方案。

美國上週五的股市升32.73點,相信會帶動區域股市,但帶動力不強。

我國股市在殷切等待916變天當兒,相信不會有什麼特別表現。

Friday, September 5, 2008

钟观涛(吴继宗)9月1日在光明日报对大马股市的解读

雖然首相兼財政部長拿督斯里阿都拉巴達威上週五在國會提出所謂親民的預算案,但市場仍面對916變天的隱憂,因此,本週相信會有套利現象。

我國股市在政府提出親民預算案後應飆升,但後勁是否有力呢?且看本週。

2009年財政預算案又是一個擴張式的赤字預算案,在通貨膨脹及經濟放緩的情況下,政府被迫持續當火車頭,以推動經濟成長。


刺激經濟效果有限
****************************

預算案給予個人的優惠很多,但經濟學家認為這樣做對刺激經濟的效果不大。政府有必要把資金,通過各種渠道注入市場,才能取得活絡經濟的效果。

明年預算案的總開銷是2079億令吉,赤字3.6%,錢從何來?

今年的財務赤字原本是3.2%,後來不斷追加撥款,赤字升至4.8%。

經濟學家說,目前我國有石油稅收來支付政府開銷,一旦油錢減少或沒有油的時候,我們政府的開銷從何而來?
國際原油價格大起,使石油稅收增加15.4%,或1243億令吉。


政府工程承包商受惠
*******************************

經濟學家認為,政府每年的營運開銷平均1050億令吉,有一半以上是用來支付公務員薪金,佔政府稅收的88%,因此,政府有必要削減公務員,以減少政府的負擔。

聯邦政府的明年度公共領域發展開支比2008年度增加11.8%而達到517億令吉的高紀錄水平。雖然增長幅度高,但大部份提供給政府承包商的工程費之用,利惠那些獲得政府工程的承包商。

希望這些承包商可以通過計劃的推展而推動經濟。

在這創紀錄的龐大發展開銷中,僅約15%或76億令吉是供應海、陸、空三種交通的基本設施發展開銷。

中產階級被忽略
*********************************

經濟學家認為這個預算案側重低下貧苦民眾,但卻忽略了可以生產的中產階級。

整個來說,2009年財政預算案只是在表面上穩定物價及維持低成長率,它缺乏長期發展的目標。

有人說,這是提防916變天的預算案。

首相拿督斯里阿都拉上週五在發表預算案演詞接近尾聲時,突然警告那些嘗試通過不合法方式奪權的人士,並誓言挫敗奪權的陰謀。

他說,“一些方面”企圖以不合法方式奪權,威脅穩定的國家政局,人民應加以拒絕。

政治穩定經濟繁榮
*******************************

他說,這些企圖將造成不確定因素,進而對外來投資造成不利影響,進而影響國家經濟及股市表現。

他相信人民會持續支持國陣,而他也不允許這些“有心人”持續攪亂局勢,動搖民心,而國陣也將把重心放在國家行政事務,不要浪費時間與反對黨周旋於奪權事項。

他保證,政府將繼續確保政治穩定及加強經濟繁榮。他說,反對黨將繼續提出取悅人民的承諾,但一旦落實,將影響政府的財政狀況,讓下一代面對破產國家。

他說,政治動亂將無法造福人民,政府需要人民的諒解與攜手努力,就算政見有所不同。

公務員花紅有助消費
**********************************

在2009年財政預算案中,唯一比較有助刺激需求的是公務員得到的一個月花紅。

我國有140萬個公務員,這個花紅將分兩次發放,分別是9月份和12月份。因此,可以注意一些消費股。
其它會刺激到經濟的措施如:

(一)參與再生能源及節約能源領域活動的公司獲新興工業地位,享有豁免100%法定收入稅務為期10年。
(二)明年起,一切與聘請員工相關的開銷,以及參與慈善或社區建設計劃的公司皆可享有扣稅優惠。
(三)成功招徠在大馬上市的外國公司,或引進外國投資產品的仲介公司豁免繳稅。針對購買25萬令吉以下的房屋可獲得50%的印花稅折扣,馬來西亞購屋者協會中文組主任陳鍾靈說,這是一項好消息,但無法照顧全民。

或可留意產業股
*********************************

他說,低於25萬令吉的房屋多屬公寓,而城市區的排屋或其他類產業更超過此價格,因此無法照顧到更多的購屋者,況且購買逾25萬令吉的房屋,只獲一兩千令吉的折扣,是不足夠的,房屋及地方政府部長拿督斯里黃家泉說,此舉能刺激房地產業的成長。

他說,在建物價格上漲下,房地產業發展放緩,但若市場還有一定的房屋購買力,降低印花稅的措施,將讓發展商推行薄利多銷的銷售方式。

因此,可以注意產業股。

分析家說,若經濟再放緩,馬股可能在今年底或明年跌破1000點。他說,馬股的年終預測介於1017點至949點。

他說,美國股市自7月開始便一直往上攀,恐怕會在一兩個月的9月中鬆懈。

生產總值和出口料趨軟
**********************************
他說,如果美國股市下跌,馬股和區域股市皆會受拖累。他說,隨著全球經濟放緩,加上石油和原棕油價格下跌,我國的國內生產總值(GDP)和出口也會趨軟。

上週五,美國道瓊斯工商指數跌171.63點,報11543.55點。納斯達克指數跌44.12點,報2367.52點。
美國股市上週五的下跌是因為美國政府表示低層的個人收入3年來第一次大幅度減少,而消費人的消費也緩慢了下來。

美國也面對台風的威脅,台風GUSTAV正吹向墨西哥灣,因此,墨西哥的煉油設備可能被摧毀。

新奧爾良(NEW ORLEANS)也面對台風的威脅,美國警方計劃挨家挨戶去叫民眾疏散。

新奧爾良有31萬居民,如果他們不理會警告,只有自食其果。新奧爾良在2005年也面對KATRINA台風襲擊,因此,有關方面害怕歷史重演。

Tuesday, September 2, 2008

KLCI was down by 13.5 points to close at 1,086.99

2/9 KLCI closed -13.5pt to 1,086.99. Crude oil -$9.41 to $106, CPO -RM159 to RM2,461. Ranhill -13.5c to 89.5c. KLK -50c to RM11.40, PPB -40c/STARBIZ

2/9 Bursa Securities allows Wonderful Wire & Cable until Nov 30 to submit regularisation plan or face delisting。

2/9 TM accepts letter of award from govt to carry out high speed broadband project. TM to invest RM8.9b, govt RM2.4b/STARBIZ


2/9 Light crude oil falls $5.69 to $109.77 at 3.10pm. CPO -RM105 to RM2,517. KLCI -12pt or 1.09% to 1,088.5, Thai SETI -1.8% to 663/STARBIZ

2/9 S&P puts B corporate rating of Ranhill on credit watch, negative implications after RM620m loss. Ranhill -13.5c to 89.5c at 3.04pm/STARBIZ