IGB: It won a rm8.36 billion development project in Taipei, begging another major property venture in 2012 as its flagship development at Mid Valley is at its tail end of completion. The IGB led consortium, Taipei Gateway Intl Development Co Ltd, won the bid to build Taiwan’s Twin Towersafter a competitive process of fending off challenges from two other companies. IGB’s other partners in the consortium are Japanese and Taiwancompanies. The project is Taiwan’s biggest urban development initiative.

Banking Stocks: Most banks at Bursa Malaysia were seen ending on a high note as investor shifts to banking stocks in the search of yield. Notably PBB reached an all time high. The upward trend experienced by most banks may indicate a shift in investor interest to banking stocks as they search for shelter from risk ranging from a slowing economy and potential upsets in the coming general election. As investors maintain a defensive stance, hunting for high dividend yielding stocks and taking lower risk; banking stocks have now come under focus (Oct 2012) due to their relatively attractive dividends.

Most banks (30 Oct 2012) are trading at a PER of 15 times or lower, compared to the market. In terms of dividend yield, most of the banks provide good dividend yields between 3% and 5%.

HLFG/HLCap: The fortunes of some minority individual shareholders of the two associated companies are diverging. While HLFG has enjoyed a steady capital investment appreciation and dividend income over a five year period, HL CAP, a subsidiary of HLFG has had to contend with an erratic share price and no dividend payments since 2009.

Minority individual shareholders of HLFG have been seeing their fortunes grow together with the group. However those in HL Cap have not enjoyed the fruit of their investments in the group, as it has not given satisfactory returns so far (30 Oct 2012). HLFG’s group shareholders have been receiving steady dividends every year.

HLCap has a large pile of cash in its vault. As at June 30, 2012 its cash and cash equivalent stood at rm487 million.

HLFG is the largest shareholder of HL Cap with 79.09% stake. Most shareholders of HLFG include HL Co Bhd with 51.94% stake and Guoco Assets Sdn Bhd with 25.73% stake.

Tan Sri Quek is the largest shareholder of both Hong Leong CO and Guoco Assets.