Posted by speakup > 2024-02-07 12:50 | Report Abuse

https://focusmalaysia.my/bersih-wants-100-reform-now-not-hesitating-to-mobilise-people-to-take-to-the-streets/

Posted by beluga > 2024-02-07 13:10 | Report Abuse

The Financial Services Act 2013 (FSA) that regulates licensed bank only set limit for individual shareholdings to 10% and does NOT set limit for institution shareholders. Any acquisition of multiple 5% required BNM approval and; for CONTROLLING stake, with the Minister and BNM approval.

Also if one were to understand the Capital Market Services Act 2007 (CMSA) that regulates all listed companies (including listed licensed banks), Sarawak and PERSON ACTING IN CONCERT (PAC) would be obligated to extend the mandatory general offer (MGO) to all shareholders if Sarawak and PAC raised its stake to more than 33% voting shares .

Posted by beluga > 2024-02-07 13:12 | Report Abuse

Under CMSA interpretation of PAC, I think LTAT and Boustead Holdings (BHB) will be construed as PAC if Sarawak pursuant to an agreement, arrangement or understanding to acquire shares for the purpose of obtaining control of Affin Bank whether jointly or severally.

Posted by rohank71 > 2024-02-07 16:01 | Report Abuse

tq #beluga

Posted by GSX1111 > 2024-02-07 16:53 | Report Abuse

if the MGO offer, based on NTA of RM4.69, with discount of 30% to 40% the price may be higher at least above 3.00. Also it is controlling stake, shall get more premium. Especially LTAT in cash crunch situation. Sarawak will do them a favour

Posted by TheContrarian > 2024-02-07 17:36 | Report Abuse

Yes, yes, yes, there will a MGO of RM4.00. Quickly buy.

Posted by rohank71 > 2024-02-08 06:58 | Report Abuse

the last time #Contrarian said "quickly buy" sarcastically, price moved up to 2.60 levels... Will it happen again?

Posted by Bursino > 2024-02-08 07:34 | Report Abuse

🎉

Posted by TheContrarian > 2024-02-08 09:07 | Report Abuse

Go, go, go Affin.

Posted by GSX1111 > 2024-02-08 10:22 | Report Abuse

looking at current political landscape, the power from East Malaysia is at dominant position. No matters which side in the government. Thus, their controlling bank have the potential to take over any big bank...targeting those current institutional owned bank.

Posted by metaverse > 2024-02-08 11:36 | Report Abuse

Could a Hard Drive Supply Chain Crisis Push AI and Digital Ads to the Breaking Point?

Everything is moving to the cloud, especially when it comes to data. But the critical thing to remember about “the cloud” and “cloud data storage” is the fact that they still require cold, hard disk drives (HDDs) down here on Earth. Typically, these HDDs are found in vast server farms—like the 7.4 million-square-foot “Citadel” facility in Nevada.

The other thing to remember about cloud data storage is that the AI revolution is driving the need for more of it. This is why Google (1), Microsoft (2), Meta (3), AWS (4), and other tech giants are spending billions on new data centers. It’s also why cloud storage is getting more expensive, and why HDD manufacturers are releasing bigger drives. 50 terabyte drives are coming in late 2024.

https://hackernoon.com/examining-the-impact-of-a-hard-drive-supply-chain-crisis-on-ai-and-digital-advertising

Posted by metaverse > 2024-02-08 11:51 | Report Abuse

Another trading theme to watch is Genting Malaysia even thought technically not yet in bullish zone but it is heading towards that direction as Macau's and Cambodia's gaming landscape basically in very bad conditions as ONE MAN'S LOSS IS ANOTHER MAN'S GAIN. Lim Kok Thay's Star Cruise has transformed to Resort World's Cruise and started to make good profit according to news 😁

Posted by metaverse > 2024-02-08 16:19 | Report Abuse

Western Digital to build RM1bil plant in Sarawak under RM2.3bil Malaysian expansion
By Azanis Shahila Aman - November 6, 2020 @ 11:00am

Muhiyiddin 😍 welcomed any company wanting to invest in a high-impact and technology-based industry here, it added.

"Of the total, RM1 billion 💪 will be utilised to build a new factory in Kuching, Sarawak, which will add 30 per cent to our hard disk drive production capacity, and RM1.3 billion is for new equipment facilities," Syed Hussian added.

https://www.nst.com.my/business/2020/11/638639/western-digital-build-rm1bil-plant-sarawak-under-rm23bil-malaysian-expansion

Posted by GSX1111 > 2024-02-08 17:27 | Report Abuse

Sarawak is the center state of attraction at least for coming 10 years. Any investment need the state's approval. Certainly as Affin become Sarawak state bank, gain all the benefits.

Posted by beluga > 2 months ago | Report Abuse

https://www.thestar.com.my/news/nation/2024/02/09/sarawak-aims-to-finalise-three-strategic-goals-in-2024-says-abang-jo

Posted by jluck > 2 months ago | Report Abuse

Happy Chinese new year and happy holidays to those who not celebrate.

Posted by TheContrarian > 2 months ago | Report Abuse

A poser over 'retire or resign" has cropped up following the departure of General Tan Sri Raja Mohamed Affandi Raja Mohamed Noor as chairman of Lembaga Tabung Angkatan Tentera (LTAT).

LTAT on Thursday announced that Raja Mohamed Affandi had retired effective immediately. But in his letter to Defence Ministry secretary-general Datuk Seri Isham Ishak sighted by Business Times, Raja Mohamed Affandi stated that he had resigned

Posted by TheContrarian > 2 months ago | Report Abuse

The Chairman and CEO who both resigned were the ones who proposed the sale of 25% stake in Affin to Sarawak.

Posted by stockraider > 2 months ago | Report Abuse

JUST SELL & CHANGE TO INSAS MAH!
Investors of Insas hathaway can afford to only invest in 1 stock that is insas loh!

Why should they look elsewhere when all the insas fundamental numbers are so positive compelling base on share price of rm 1,21 leh ?

The Insas figures are as follows;
1. Insas net cash is rm 1.26 per share
2. insas net cash equivalent per share Rm 1.40
3. Insas nta per share is Rm 3.56
4. Insas RNAV per share after taken account of Inari & M&A is Rm 7.00 per share
5. Insas RNAV per share after taken account of its properties value Rm 9.00 per share.
6. Insas eps Rm 0.19 share.
7. Insas cash generation per share Rm 0.22
8. Insas div per share Rm 0.025
9. Insas Nta growth per share (base buffet measurement of growth} Rm 0.22 pa.

a.Notice that insas net cash equivalent of rm 1.40 exceed share price, that means u can buy whole insas & still collect additional Rm 0.19 cash per share on top of whole company.
b. Based on NTA without any revaluation insas is worth Rm 3.56 per share.
c. If u factor in Inari & M&A hidden reserve plus insas NTA , u will get Rm 7.00 per share.
d. If u factor in { item c } plus other assets & revise property undervalue u get Rm 9.00 a share
5. Insas PE is 6.4x.
6. Insas cash generation per share is rm 0.22 giving u a yield of 18% pa.
7. Insas div yield is rm 0.025 per share or 2.1% pa.
8. Insas growth rate pa is 18%. Note this very powerful factor as insas cash generation is 18% pa and growth rate is 18% pa, that means all insas growth is back up by cash generation equivalent, this is a very powerful factor to the sustainability of cash flow and growth rate.

Conclusion: Having gone thru the financial strength of insas, can u find any other stocks more powerful than insas fundamentally at the current share price leh ?
The answer is none loh!

Thus with insas so attractive fundamentally why should u sell insas & look to buy other stocks leh ?
U should be buying more insas right now bcos of very big margin of safety loh!

Posted by beluga > 2 months ago | Report Abuse

"Thirdly, we also aspire to have a major stake in a commercial bank to provide Sarawak a financial platform to boost the economy further through the development of SMEs and entrepreneurship. Sarawak already has some stakes in this particular bank and we want to increase our stake. I am confident that we can conclude the negotiations soon so that we can participate actively in the running of the bank and be able to serve Sarawak’s interest well. "

https://www.youtube.com/watch?v=PnKmW9n7DJo&ab_channel=TVS
(clip 5:00/13:00)

Gong Xi Fa Cai, Xin Nian Kuai Le

Posted by TheContrarian > 2 months ago | Report Abuse

In light of the resignation of both CEO and Chairman of LTAT it is obvious that the new Defense Minister is not in agreement with the selling of 25% stake to Sarawak. The block size to be sold may well be reduced, possibly to 20%.

Posted by TheContrarian > 2 months ago | Report Abuse

I don't understand why it (the 'resignation or retirement' fiasco) is being disputed, but I have resigned and stated the reason. However, I still respect the organisation (LTAT) and won't reveal the content of the letter (that was sent to both the minister and ministry secretary-general Datuk Seri Isham Ishak)," he said when contacted.


It was previously reported that Business Times had sighted Raja Affandi's cover letter dated Feb 7 that was addressed to Isham's office, clearly saying that the former had resigned from his position.

"I hereby refer to the matter mentioned above. Attached herewith is one (1) original copy of my resignation letter as the chairman of the Armed Forces Fund Board for the attention of YBhg. Datuk Seri," the letter said.

The day after the letter was sent, LTAT announced that Raja Affandi had retired.

Two days later, the former armed forces chief denied that he had retired, but had in fact resigned.

Earlier today, Defence Minister Datuk Seri Mohamed Khaled Nordin persisted in standing by the LTAT statement that Raja Affandi had retired and not resigned.

Raja Affandi's departure came just a week after chief executive Datuk Ahmad Nazim Abdul Rahman tendered his resignation.

Nazim served LTAT for 31 months after his appointment to the post on June 15, 2021.

The two departures came a month after it was reported that LTAT's planned restructuring had been put on hold.

Posted by TheContrarian > 2 months ago | Report Abuse

Thank you Affin for the huge gain in the past 2 weeks.

Posted by TheContrarian > 2 months ago | Report Abuse

CGS-CIMB Research says having Sarawak as a key shareholder of Affin Bank would be positive for the bank, as it could catalyse its business growth in the state through closer working relationships with the Sarawak government.

“The growth could be in the areas of business loans (ranging from SME to corporate loans), investment banking deals, treasury and ESG-related businesses (for financial services),” it says in a Jan 17 report.

It believes, however, that it will take time for the bank to realise the benefits.

“It will take time (more than one year) for any positive benefits to materialise, as Affin Bank needs to formulate a plan, expand its network and strengthen its operations in Sarawak. To achieve this, [it] would have to incur additional costs (larger number of branches and employees in Sarawak) while revenue would only increase gradually over time,” it says.

As such, CGS-CIMB cut its investment call on Affin Bank to “reduce” from “add”, but maintained its target price at RM2.26.

Posted by beluga > 2 months ago | Report Abuse

Sarawak to Take Over Bintulu Port and Establish State Bank
SIBU, 13 Feb - Premier of Sarawak, Datuk Patinggi Tan Sri (Dr) Abang Abdul Rahman Zohari Tun Datuk Abang Openg, revealed plans for significant developments aimed at bolstering the state's economic sovereignty.
"In June 2024, we are going to take over Bintulu Port to Sarawak," declared Premier, highlighting a pivotal move for the state's economic autonomy.
The port, which has been under federal government control for the past 43 years, will now fall under the authority of Sarawak as per the constitution.
"We have negotiated, and the federal government has agreed to give back the port to Sarawak," he added, emphasizing the successful conclusion of talks between the state and federal authorities.
He said this in his speech during Annual Chinese New Year Gathering 2024 organised United Chinese Association Sibu Division Sibu Kingwood Hotel.
Furthermore, Abang Johari revealed plans to establish a unified ports authority in 2024, consolidating all ports under one governing body.
"All the ports will be under one authority, and we will introduce a law to that effect," he stated, underlining the state's commitment to streamlining port operations and management.
Addressing the financial challenges faced by Sarawak, The Premier unveiled plans to establish a state-owned bank.
"Sarawak has had difficulty obtaining loans from peninsular banks, as our local banks were absorbed by larger institutions," he explained.
Negotiations to acquire a significant stake in Affin Bank are nearing completion, with the Premier expressing optimism about Sarawak's imminent ownership of its own bank.
"Maybe in one or two months, we will have our own bank," he projected, withholding details about the bank's structure until the appropriate time.
Highlighting the strategic significance of the state bank, he emphasized its role in bolstering Small and Medium Enterprises (SMEs) and fostering economic growth.
"This bank will boost our SMEs, making them very active participants in our expanding economy," he affirmed, outlining the bank's pivotal role in Sarawak's economic development strategy.
Also present were, TYT Yang di-Pertua Negeri Sarawak, Tun Dr. Wan Junaidi Tuanku Jaafar and wife, Toh Puan Fauziah Mohd Sanusi, Premier's wife Datuk Amar Hajjah Juma'ani Tun Tuanku Bujang, Deputy Premier Prof. Datuk Amar Dr. Sim Kui Hian and wife, Minister of Tourism, Arts and Culture Malaysia Dato Sri Tiong King Sing, Minister for Tourism, Creative Industry and Performing Arts Dato Sri Haji Abdul Karim Rahman Hamzah and other distinguished guests.

Posted by metaverse > 2 months ago | Report Abuse

Johor's special zone was initially planned by KJ during Pak Lah and the biggest mystery is that not many people know who was behind the Sarawak planning. Unlike those Sabah linked speculative counters they kept mentioning those big names like JP Morgan or Goldman Sachs but Sarawak never reveal who was their top investment advisors doing all these highly strategic planning and the footprint on Port and Banking etc looks very familiar 😁

Posted by metaverse > 2 months ago | Report Abuse

When you need to buy water from JB you have to integrate your economy with JB so that the water will keep flowing and for the same reason if you need to rely on Sarawak's RE you have to integrate your economy with Sarawak so that the RE will keep flowing. Affin Bank is in the forefront of all these exciting economic developments and those who are late to the party the night is still young...

https://www.theborneopost.com/2023/08/14/abg-jo-swak-sovereign-wealth-future-fund-to-start-operation-on-jan-1-2024-with-initial-appropriation-of-rm8-bln-from-state/

https://www.mas.gov.sg/news/media-releases/2023/brunei-darussalam-central-bank-and-mas-deepen-cooperation-in-financial-supervision

Posted by metaverse > 2 months ago | Report Abuse

KUCHING - Malaysia’s Sarawak state aims to provide up to one gigawatt (GW) of renewable energy to Singapore by 2032, with negotiations to supply the electricity via submarine cables now at an advanced stage, according to Sarawak state energy unit Sarawak Energy Berhad (SEB).

https://www.straitstimes.com/asia/se-asia/sarawak-in-talks-to-supply-1-gw-renewable-energy-to-s-pore-by-2032-sarawak-energy

If I read the news correctly, Sarawak will incur zero cost in this power supply to Singapore as the undersea cable will be built by Singapore at their own cost. The big question is why don't Singapore buy from Peninsular Malaysia with cheaper startup cost? Yes, the answer maybe related to RE to comply with the world's highest standard of ESG but those who have high tech knowledge must know this kind of undersea cable can be used to transmit high-speed data (Broadband over Power Lines) and all these developments are pointing to one direction that is AI technology and maybe in future the plan is to link up to Indonesia Nusantara and then all the way to Australia. Never underestimate the imagination of our small neighbor as they always think ahead of time and always several decades ahead of us in economic planning.

Posted by metaverse > 2 months ago | Report Abuse

S'pore the 4th largest buyer of Nvidia chips, accounts for 15% of company's revenue

This volume placed Singapore as the fourth largest purchaser of Nvidia's chips behind the U.S. (34.77 per cent), Taiwan (23.91 per cent), and China (22.24 per cent) for the third quarter of 2023. The company's revenue derived from Singapore was also larger than the rest of the world combined, excluding the top three purchasers. There are more than 70 operational data centres in Singapore, accounting for 60 per cent of Southeast Asia's total data centre capacity.

https://mothership.sg/2023/12/singapore-nvidia-buyer/

Singapore's power supply deal with Sarawak basically will put Sarawak directly on the map of the global AI value chain just like last time PDC established by Tun Dr Lim Chong Eu with HP moved in to Penang and then a chip cluster was developed and create more downstream industries and created Unisem and MPI and so on.

Posted by TheContrarian > 2 months ago | Report Abuse

Posted by rlch > 1 week ago | Report Abuse

If you like bank BIMB is cheaper. Also good dividend counter.

Thank you for the recommendation, I have moved some of my sale proceeds of Affin to BIMB.

Posted by rohank71 > 2 months ago | Report Abuse

BIMB is most under rated. they grew too fast but may have capital adequacy issue soon if they keep growing at 15%. Good problem but may require a rights issue, hence the weight on the stock.

Posted by rohank71 > 2 months ago | Report Abuse

long term holders, pls buy BIMB but not for short term play as we don't know the Rights Issue impact. BIMB is strong hold for long term.

Posted by TheContrarian > 2 months ago | Report Abuse

EPF keeps accumulating BIMB and selling Affin.

Posted by calvintaneng > 2 months ago | Report Abuse

TheContrarian

If Epf still selling and selling Affin when got Sarawak news also no use

So i suggest you consider palm oil shares better 🌴🌴🌴

Last time Cpo was Rm2200 and cost of Cpo production was Rm1400

Gross profit was 57%

Now cost of Cpo production gone up to Rm2000 but Cpo price shot up to Rm3800 - Rm3900 range

So now with Rm1800 profit at new cost of Rm2000 the gross profit now very high at 90%

If you consider gross profit up from 57% to 90% is actually up by another net increase of 57% from 57% gross profit

Posted by calvintaneng > 2 months ago | Report Abuse

In principle Palm oil co now earn net extra 100% increase in overall profit

And we should take a closer look at 🌴🌴🌴 as its earnings now 🔥🔥🔥

Posted by TheContrarian > 2 months ago | Report Abuse

@Calvintaneng, thanks, will look into some cheap palm oil counters.

Posted by TheContrarian > 2 months ago | Report Abuse

Yesterday took Mr Calvintaneng advice and bought Cepat at 71 sen, now Cepat 74 sen. Thank you.

Posted by TheContrarian > 2 months ago | Report Abuse

I have put my Affin sale proceeds into good use by buying BIMB at 2.24 to 2.25 and Cepat at 0.71.

Posted by calvintaneng > 2 months ago | Report Abuse

TheContrarian

Yesterday took Mr Calvintaneng advice and bought Cepat at 71 sen, now Cepat 74 sen. Thank you.

8 hours ago

Very smart move

But also get some TSH and hold till Rm2.00
Then Rm3 to Rm5!

See

How nice to know TSH RESOURCES got 94,700 Acres Lands in IKN NUSANTARA

Book Value about Rm5,000 per acre (Current market value as high as Rm1 Million per acre

See

https://www.youtube.com/watch?v=P27JpoUUUsw

Investing like this now we know why Warren Buffet said, "I know I will be rich"

Posted by aklobi > 2 months ago | Report Abuse

Personally, I am refraining from buying any stocks until there is a market correction. I believe the market has risen tremendously, and keeping the cash is safer.

Posted by beluga > 2 months ago | Report Abuse

“Maybe in one or two months, we will have our own bank and the structure I cannot reveal to you tonight...“I will reveal at the right time how we want to structure the bank. In other words, this bank will be the bank that boosts our small-medium enterprises (SMEs) because we want our SMEs to be very active and participate in our expanding economy,”

excerpt from news article : https://www.theborneopost.com/2024/02/14/sarawak-to-continue-pursuing-economic-restructuring-this-year-under-pcds-2030-says-abg-jo/

“I will reveal …. HOW WE WANT TO STRUCTURE THE BANK..” ??!!

Tan Sri Abang Johari, how big is Sarawak shareholding block that will ALLOW you to STRUCTURE the bank the way you want ? It’s definitely NOT 30% ! It is obvious with that kind of confidence level, I think you must be referring to a shareholding block of 50% at minimum!! You need to buyout Bank of East Asia’s stake for you to “structure the bank"

ps : Temasek Holdings and Ong Beng Seng via Vertical Theme Sdn Bhd is the largest shareholder with 29% shareholding in Alliance Bank Malaysia Berhad (ABMB) . ABMB second largest shareholder is EPF with 10% shareholding only. ABMB has only 2 non-independent directors out of total 10 directors.

Do you think the Singapore sovereign wealth fund & Mr Ong, a Singaporean think they “own” Alliance Bank or “structure Alliance bank the way they want"? Hmmm… Let alone Affin Bank second largest shareholder has 24% shareholding (already with 2 nominee directors in the board as part of their agreement with Affin)

Posted by beluga > 2 months ago | Report Abuse

https://theedgemalaysia.com/article/anz-claims-unable-control-ambank-says-report

ANZ, yes, we know you can’t just turn up and demand things. We know you don't CONTROL or OWN the bank despite 24% stake in the bank and the nomination of two of directors to its board. Not even at 30%. :)

Posted by metaverse > 2 months ago | Report Abuse

Malaysia’s Southern Bank rejects hostile offer

The robust defence from the country’s second-smallest bank sets the scene for a highly charged takeover battle, the largest in Malaysia’s financial sector to date and one that could result in one of the biggest deals in south-east Asia this year.

Southern Bank’s blunt statement to the stock exchange did not identify its potential alternative partner. But it said it had asked the central bank for permission to enter into negotiations, a local requirement.

“The board believes an alternative takeover partner will be available that will maximise value to our shareholders,” Southern said, describing the would-be partner as a “major local financial institution”.

Hong Leong Bank and Public Bank have been widely touted as possible partners for Southern, which said last week it was looking for a “white knight” suitor after months of talks with BCH failed to yield a friendly deal.

https://www.ft.com/content/f0b07fc0-9d4a-11da-b1c6-0000779e2340

Posted by metaverse > 2 months ago | Report Abuse

Another senior member of LTAT leadership resigns

KUALA LUMPUR: Another member of the Armed Forces Fund Board's (LTAT) leadership has resigned, making it three resignations over the past one month at the pension fund for 120,000 serving members of the Malaysian Armed Forces.

The head of strategic asset allocation for LTAT, or senior director of strategy, Dayana Rogayah Omar, 39, has tendered her resignation.

https://www.nst.com.my/business/corporate/2024/02/1015046/another-senior-member-ltat-leadership-resigns

Posted by metaverse > 2 months ago | Report Abuse

https://www.thestar.com.my/business/business-news/2024/02/20/sarawak-set-to-become-a-powerhouse

Posted by beluga > 2 months ago | Report Abuse

https://www.facebook.com/unitkomunikasidanpenerangansarawak/videos/1445819359341639

watch from clip 34:00/54:56 onwards for 1 min

"that is why you have been reading of our move to take a majority stake in one commercial bank....... "

"...... that is why we must have OUR OWN commercial bank that will give support to our private sector... "

Posted by GSX1111 > 2 months ago | Report Abuse

Majority stake typically will trigger GO..now is a guessing game on price

Posted by GSX1111 > 2 months ago | Report Abuse

those bank that with sell call, it is a trap so that can buy low

Posted by klee > 2 months ago | Report Abuse

The white hair aka pekmo of sarawak passed on this morning.Sarawak will usher in a new era.Nusantara of indon will further spur the development in the state.This bank will have all the benefits.

Posted by klee > 2 months ago | Report Abuse

first target rm3