Friday, September 30, 2011

Bidding war on SP Setia takeover?


Permodalan Nasional Bhd (PNB)'s takeover bid on SP Setia is facing resistance as SP Setia rejected the offer.

SP Setia said  "Based on external valuations of the company by investment analysts published before receipt of the offer, that the shares offer and warrants Offer fundamentally undervalues the company".

"The board will also be writing to the offeror to enquire whether they are interested in revising the Offer price upwards to reflect a price which is closer to the fair value of S P Setia," it said.

Meanwhile SP Setia Bhd stock jumped to 2 month high to close at RM3.87 after SP Setia rejected the offer saying the offer is unattractive and undervalues, there will seek a rival offer.


Some analyst said the offer price of RM3.90 is taking advantage of weak market sentiment and was not favourable to minority shareholders.

Thursday, September 29, 2011

BERJAYA CORPORATION BERHAD ( BJCORP ), Q1 2011 Summary

BERJAYA CORPORATION BERHAD ( BJCORP )
- First quarter ended on 31/07/2011
- Announced on 29/09/2011















S P SETIA BERHAD ( SPSETIA ), Q3 2011 Summary

S P SETIA BERHAD
- Third quarter ended on
- Announced on 22/09/2011

 














Another mega takeover!


Permodalan Nasional Bhd (PNB) made an offer to takeover S P Setia Berhad with offering price of RM3.90 apiece for the rest of the S P Setia Bhd shares it doesn't already own.

The deal is about RM6.9 billion.

Currently PNB is a major shareholder for SP Setia. The others are EPF and Kumpulan Wang Persaraan. Three of them are holding 47% of SP Setia shares, with:

- PNB 28.51%,
- EPF 13.39%
- KWAP 5%.


SP Setia Bhd is the Malaysia’s biggest listed developer by sales.

Wednesday, September 28, 2011

GLOMAC BERHAD, Q1 2011 Summary

GLOMAC BERHAD
- First quarter ended on 31/07/2011
- Announced on 21/09/2011
















A profit-taking day for KLSE?

With Dow and European markets up yesterday. What will happen to KLSE today?

Morning session should be good, as market will follow western uptrend but will not push for another 30 points gain. There might be some profit-taking as the confident on the market is still fragile.

For afternoon session, market will begin to encounter profit-taking. Depending on the Europe early trade, if there is no bad news from western country and there continue their uptrend. Then chances for KLCI to stay green are greater.

Tuesday, September 27, 2011

A happy day in share market..........

Happy face can be seen across shares market as all indexes were bounce back from last few days battering. 

KLCI up or rebounded 32 points to close at 1364 following overnight gains of 272 points from Dow Jone and  investors expect European policymakers would undertake measures to contain the growing debt crisis.

At the moment, Europe major indexes were up 3% to 4% and Dow Future also on positive side. Most probably, KLCI will continue to go up tomorrow but beware of profit-taking.

The market may turn red in the second session if profit-taking kick in but all depend on the morning session, if it goes up then chances of turning red in the afternoon is higher.

Anyway, how long will the market continue to go up? Its unpredictable, it won't be surprised to see another wild swing later. The market is still volatile in short term.

With the situation so unpredictable, it will take some time to build up retail-player confident to come back. Currently trading are mostly done by institutional investors.

BERJAYA SPORTS TOTO BERHAD ( BJTOTO ), Q2 2011

BERJAYA SPORTS TOTO BERHAD  ( BJTOTO )

- Second quarter ended on 31/07/2011
- Announced on 21/09/2011
















Are Malaysian going to work longer?

The EPF is hoping the retirement age will be extended from current 55 to 60 in the coming budget announced by its chief executive officer, Tan Sri Azlan Zainol. He hopes for 58, if not 60, as the retirement age.

Meaning Malaysian have to work longer before being able to be retired and enjoy their golden age years.

This will benefit to those lower income group or for those do not saved enough before retired. Five more years of income will help a lot.

In fact, current retire age of 55 is too early for Malaysian to retire nowaday. As most of them still able contribute to society and able to handle their job well or still needed by the company for their experience.

If this is one of the item in the budget, it will bring a huge relieve to a lot of people who are nearing retiring age. These will also help EPF to generate more contribution, as these workforce will contribute more than the new comers.

Hope this suggestion will be materialized.

Monday, September 26, 2011

MPHB sells Menara Multi-Purpose to MCA

 MULTI-PURPOSE HOLDINGS BHD ( MPHB ) announced today that there are disposing its Menara Multi-Purpose to the Malaysian Chinese Association ( MCA ) for RM375 million cash and based on the sales, there will be an estimated gain of RM199 million.

The package includes the office tower known as Menara Multi-Purpose together with 414 car park bays.

The earnings and earnings per share of the MPHB Group for the financial year ended 31 Dec 2011 will definitely be positively affected from the disposal.

MPHB said the sales proceeds from the disposal would be utilised to repay the company's bank borrowings. The purpose of the disposal also in-line with the group's asset rationalization exercise to dispose of its non-core assets.

The original cost of the tower and parking bays were at a total of RM289 million.

Sunday, September 25, 2011

Liverpool, not that good afterall...........

Liverpool beat Wolves 2:1, a good result after 2 straight loses.

However, with team like Wolves, Liverpool should win it comfortable and easily but it was not. Liverpool has to work hard for the three points.

With derby match and the MU visit soon, Liverpool need to buck up and improve their performance to face these two teams. 

Player like Mascherano is still greatly missed, Lucas has not covered his place well. On several occasion the midfield was freely control by opposition which was not the case when Mascherano was around.

Both Carroll and Henderson are overated and overpaid for. Carroll missed two clear chance but at least he has lost some weight, and hopefully he will be a better player soon. But his partnership with Suarez is not perfect, the pair was not getting well.

This is going to be a headache for King Daglish, if Liverpool benched Carroll, it will be a waste of money, as he cost so much money to be benched.

Henderson is the player to be give way to Stevie G. Henderson has not worth the money pour on him.

Stevie G, with only 10 minutes on the field but his contribution is greatly needed. His present is greatly felt yesterday. It will be a great news to the team when he is back.

Again Suarez has proved he is the lifeline for current Liverpool team. No doubt, he is the best player or man of the match yesterday. But he has to watch out for his discipline because he was not happy when being subsituted late in the match.

The back four, Enrique is best among the four. Kelly still long way to go compared to Glen Johnson. The worst is the central back, Skrtel prompt to give away free-kick at the danger area. On Jamie Carragher, the age has catching up with him.

With Coates around, hopefully he can be Liverpool new central back for good.

With over 100 millions pound poured into the team, this is the result Liverpool fans are waiting for, a maximum points from each match. But the team performance is still long way to be league champion.

Oh well, this team need time to gel together.

Friday, September 23, 2011

What a day for KLSE and Asian markets

Phew...... Finally the day is over. What a day in shares market, KLCI dropped another 21 points today to close at 1365.

If one jump in to buy just now, they may be catching the falling-knife instead of gold because Europe is falling now after opened higher during early trade which bringing hope to all markets.


The only hope now fall on US market, hopefully there will bring some good news to global market. Otherwise, another sickening day awaiting KLSE next Monday.

Come on US, come on DOW !

How many point will KLCI going down today?

With global market plunging down last night, KLCI will not be spared today.

Another bloody day waiting in KLSE.........

Morning session will be red across whole board, hopefully there will be some miracle in the afternoon session when Europe open for trading.

KLCI already lost 31 points yesterday, another 2-3% off could be seen in the morning session. Hope there are no more panic selling in afternoon session.


I am guessing KLCI will close 10-20 off yesterday close of 1387 points.

Thursday, September 22, 2011

Shares Market is not going down BUT.......

P L U N G E !

Nowaday, shares markets are not going down but PLUNGE !

Plunge is the word being used for current ailing shares markets. Bad news everyway, last week it was from Greece and after Greece issue cooling off. It is back to USA again.

Next could be back to Europe, then US, then Europe,..... back and forth.

It was serious this time, oh well, all the new bad news are serious one after another. May be there are reason behind all these. Try to pull down global shares market.

Oh well, this is normal to stock markets. For every three to four years, there will be a huge correction. Its like a cycle. Afterall one cannot expect market to go up forever.

So next time, when your investment already making profit, TAKE IT.

Once the money goes into your pocket, its yours.

Tuesday, September 20, 2011

Don't Sell MPHB !

A TECHNICAL SELL was put on MPHB shares by CIMB Research....... A big mistake !

Another mistaken done by Technical Analyst (TA) !!! Actually in a volatile market like now, TA is not workable, all technical indicators, like MACD, RSI, bla bla bla, are gone hire-wired.

Therefore all the indicators pointing to sell on MPHB is a mistake by TA. With current situation, all the indicators will point to sell on most counters.

In fact, with the company good fundamental, there should put a HOLD on the counter. This is so-called FA, keep the good counters instead of TA, sell when sell indicator was hit.

Below is the sell-call published in theedgemalaysia.com.

CIMB Research has Technical Sell on MPHB

KUALA LUMPUR: CIMB Equities Research has a Technical Sell on Multi-Purpose Holdings (MPHB) at RM2.59 at which it is trading at price-to-book value of 1.3 times.


It said on Tuesday, Sept 20 that MPHB is trading below all its key moving averages. If the triangle support fails to hold, we expect next downleg to be steep. A slip below RM2.51 would push prices towards RM2.43 and RM2.35.


“Technical landscape is deteriorating. MACD signal line has staged a negative crossover while RSI is below the 50pts mark.


“Our strategy here is to unload on strength, especially near the RM2.68-RM2.80 resistances. Only a rise above RM2.80 would prompt us to review our call,” it said.

Thursday, September 15, 2011

Why KLCI down again?

The FBM KLCI dropped another 6 points to close at 1,430 points, created another lowest level in a year, since September 01, 2010.

Like yesterday, KLCI opened higher in the morning and then lost ground in the afternoon session.

One of the reason for the fall is investors took profit ahead of shorten trading week, as market will be closed tomorrow for the Malaysia Day holiday.

With markets sentiment so volatile, investors are not willing to keep too many stocks over longer weekend.

Another worry by investors is a statement made by World Bank President Robert Zoelick saying the world had entered a new economic danger zone and Europe, Japan and USA all needed to make hard decisions to avoid dragging down the world economy, this made investors uneasy.

Look like KLSE is going to miss going higher tomorrow as European markets are opened higher.

Wednesday, September 14, 2011

Why KLCI down?


Bursa Malaysia dropped 10 points today and closed at 1,437. Its lowest level since Sept 9, 2010.

In the morning, KLSE was full of hope after it opened 5 points higher but losing steam soon after.

The huge drop that followed could be due to several reasons:

- On concerns of worsening euro zone debt crisis.

- Investors fear Greece may be going to default anytime soon, and there is also
rumour saying Greece might be leaving European Union.

- There were also signs that foreign funds were leaving the Asian region.

These could be the reasons forcing investors to sell aggressively for profit-taking or even avoid losses.

A tough day if one still actively involved in equity market.

Are we seeing the bottom yet?

Every now and then, bad news from Greece, PIIGS or US economy will affect the stock markets, a huge dive for indexes.

Are we seeing the bottom yet? Hard to say or predict, as on and off there will be another bad news coming out from these country. Its like a never-ending story.

The problem faced by these country are not simple to be resolved, it is going to be a long road ahead for recovery.

We shall wait for company Q3 results next month onward. If there performed badly then bear is going to stay longer then the bull.

Monday, September 12, 2011

Telco 6% per cent service tax was off

Good news.......

Telcos have agreed to postpone the 6% service tax to pre-paid users which was to be taken effect from Thursday, 15 September.

The postponement was made after meeting between Government and four major telcos, Celcom, Maxis, Digi and U Mobile today.

Their decision was response well to our PM advise not to incur the tax onto Rakyat. The telcos were urge to reconsider the infamous six per cent service tax to be incurred to customer last week.

One person's word help millions pocket. One Malaysia, One PM !

Anyway, well-done to our PM for helping Rakyat to fight-off another possible burden.

One question to the telcos, why there still want to burden us even thought there already made tons of money with the absorbing six per cent service tax from day one???

Friday, September 9, 2011

More income for local telco

From 15th September onward, all purchase of prepaid reloads and prepaid starter/SIM packs for all telcos will be charged a six per cent of service tax.

The telcos said the service tax on prepaid already exist since 1998 but it was absorbed by them until now.

According to them service tax is a consumption tax and is chargeable to the customer. This is similar to the service tax levied on food and beverage purchase in restaurants and hotels.

With the 'passing' of this service tax to consumer, meaning a prepaid phone user who buys a RM10 prepaid reload will have to pay RM10.60, with RM0.60 as service tax.

With the service tax being 'transfer' to customer from 15th Sept onward, the local telcos will have 6% more as their income. For sure, there are going to benefit from it.

This is not a good sign to consumer as more money to spend and pocket hole is getting bigger now. There are happy but not customer....

Thursday, September 8, 2011

6% More For Prepaid Reloads

From 15th September onward, all purchase of prepaid reloads and prepaid starter/SIM packs for all telcos will be charged a six per cent of service tax.


The telcos said the service tax on prepaid already exist since 1998 but it was absorbed by them until now.

According to them service tax is a consumption tax and is chargeable to the customer. This is similar to the service tax levied on food and beverage purchase in restaurants and hotels.

With the 'passing' of this service tax to consumer, meaning a prepaid phone user who buys a RM10 prepaid reload will have to pay RM10.60, with RM0.60 as service tax.

This is not a good sign to consumer as more money to spend and pocket hole is getting bigger now.
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