crash is imminent

now that Trump has won, Fed may defer its hike in December to 2017. at least I can sigh a bit of relief knowing that Trump wont start WW3 unlike Hillary.

stocks & bonds are artificially driven by central banks & hedge fund managers. time to dump stocks & bonds for phyical gold. outlook for fed hike (also ECB & BOJ) is gloomy and the worst has yet to begin. the 555 trillion debt bubble will implode and that's the end of fiat currency.

Target Price

SELL

CIMB research cuts MYEG EPF.

sell all

Is it still suspended? why am I still not allowed to trade this counter?

Ringgit drops as FTSE Bursa Malaysia KLCI Index falls below its 200-DMA and oil prices decline.

Exports growth remains supported by manufactured goods and electronics exports despite soft momentum, Standard Chartered Bank writes in note today

Crude oil and palm oil prices may stabilize and increase modestly

March exports due May 6; est. -1.8% y/y vs 6.7% Feb

Ringgit falls 0.4% to 3.9115 per dollar, according to onshore prices; poised for monthly drop of 0.3%

USD/MYR slow stochastics %K still above %D, at 51

WTI oil falls 0.7% to $46.36/barrel; crude is still heading for 20% gain in April, its biggest monthly advance in a year

USD/MYR may retest base at 8-month low
Resistance: 3.9520, April 26 high; 3.9625, April 18 high; 3.9757, March 30 high
Support: 3.8705, April 21 low; 3.8503, April 20 low; 3.8465, April 13 low

1MDB confirms Bank Negara probe ended; says it will pay fine

Yield on 3.955% govt bond due Sept. 2025 little changed at 3.903% today; yield is up 10 bps on month, most since Aug.

International Petroleum Investment Company PJSC says it made full payment of $50.3m interest due on 1MDB Energy (Langat) $1.75b 5.75% dollar-denominated notes

IPIC will ask for indemnity for interest repayment via written demand to 1MDB and Malaysia’s Minister of Finance Inc. pursuant to binding term sheet

Ringgit rises with bullish wave for Asian currencies, led by surging yen after BOJ leaves monetary policy unchanged; new central bank governor pledges stability.
• Greater chance of monetary easing in Malaysia with smooth central bank leadership transition to Muhammad Ibrahim, DBS economists write in note today
o If inflation continues to fall below expectations, may compel central bank to cut overnight policy rate
o Next CPI release due May 18
• Outgoing governor Zeti says Muhammad Ibrahim will help provide continuity and much-needed certainty in “this prevailing period of great uncertainty,” according to e- mailed statement on April 27
• Ringgit rises 0.3% to 3.9020 per dollar, gaining for second day
• USD/MYR 1-month NDF up 0.1% to 3.9030; above 21-DMA at 3.8962
• USD/MYR consolidating above near-term base at 8-month low
o Resistance: 3.9520, 3.9625, 3.9757
o Supports broken at 3.9002 and 3.8965; next at 3.8503
• Malaysia sold MYR3b of 7-year bonds today, demand increases; buyers “unfazed” by 1MDB, RHB Research Inst. strategist Fakrizzaki Ghazali says
• Yield on 3.955% govt bond due Sept. 2025 rises 5 bps to 3.942%

DaitoRyu, even without the presence of default, i strongly believed that it would be just a matter of time before it goes further down. know its not MYEG's fault. Cause its caused by systematic risk of the overall market, particularly the role of Feds and QE, monetary easing or whatever name you call it. This is not a good time. Wish I could predict and say that WW3 is happening very soon (srs).

If I could remember someone was saying I was on dope when I said it was going down to RM2.

RM2.00 on its way

Downtrend on negative sentiment on 1MDB's default, dovish FOMC & delay of QE from BOJ.

support has been breached. waiting for another round of collection. this counter is hella dope.

dope is good.

buy below RM2.00.

gold shot up in London. expect global share market to be dovish.

Foreigners have been buying this counter.... and local funds have been selling... you guess?

Malaysian inst. investors have been selling and UK & US are the buyers. Risk of sell-off amid newly elected BNM governor

Disposals for the past 4 months (in no of shares): Total of 47.5 mil shares disposed

PRUDENTIAL UNIT TRUSTS -8,407,257
CIMB-PRINCIPAL ASSET MGMT BHD -5,750,200
FIL LTD -5,646,190
LIBRA INVEST BERHAD -3,639,200
CANDRIAM LUXEMBOURG SCA -2,800,000
HONG LEONG ASSET MANAGEMENT BHD -2,758,000
LEGG MASON INTERNATIONAL EQUITIE -2,617,000
OKASAN ASSET MANAGEMENT CO LTD -2,400,000
ROCHDALE INVESTMENT MANAGEMENT -2,000,000
SCHRODER INVESTMENT MGMT (LUX) -1,980,000
MAWER INVESTMENT MANAGEMENT -1,840,000
UTILICO EMERGING MARKETS -1,534,000
MITSUI SUMITOMO TRUST ASSET MGMT -1,456,000
KUMPULAN WANG PERSARAAN -994,200
MITSUBISHI UFJ KOKUSAI ASSET MGM -670,400
NEW YORK LIFE INVESTMENT MGT -600,000
JYSKE INVEST -550,200
DEGROOF GESTION INSTITUTIONNELLE -465,200
CHARLES SCHWAB INVESTMENT MGMT -395,200
TCW GROUP INC -307,400
KB ASSET MANAGEMENT -238,000
PACIFIC MUTUAL FUND BHD -162,000
WELLINGTON MANAGEMENT GROUP LLP -119,480
ASM MARA TRUST MANAGEMENT BHD -92,334
MANULIFE INSURANCE MALAYSIA BHD -87,803

Acquisitions for the past 4 months (in no of shares): Total of 51 mil shares acquired

BARING INTERNATIONAL INV LTD +11,614,800
GRANDEUR PEAK GLOBAL ADVISORS LL +5,652,000
AMINVESTMENT SERVICES BERHAD +3,888,294
AMANAH MUTUAL BHD +3,754,200
DIMENSIONAL FUND ADVISORS LP +2,636,600
ARTISAN PARTNERS LTD PARTNERSHIP +2,404,800
RBS LUXEMBOURG SA +2,200,000
JO HAMBRO CAPITAL MANAGEMENT +1,908,800
NATIONWIDE FUND ADVISORS +1,822,100
UBS STRATEGY FUND MGMNT COMPANY +1,704,000
CAPITA FINANCIAL MANAGERS +1,592,800
WILLIAM BLAIR & COMPANY LLC +1,493,100
VANGUARD GROUP INC +1,442,969
USAA INVESTMENT MANAGEMENT CO +1,437,000
FIDELITY MANAGEMENT & RESEARCH +1,038,600
MONTAGE INVESTMENTS LLC +1,021,000
COMMERCE TRUST BHD +957,600
IGNIS INVESTMENT SERVICES LTD +885,200
BARING ASSET MANAGEMENT LTD +645,600
PIONEER ASSET MANAGEMENT SA +600,200
AMERICAN CENTURY INVESTMENT MGMT +500,200
OPPENHEIMER FUNDS INC +404,500
SAMSUNG INVESTMENT TRST MGMT +261,800
RS INVESTMENT MANAGEMENT +245,600
ARBITER FUND MANAGERS LTD +240,000
INSIDERFONDER AB +169,600
CIBC SECURITIES INC +145,600
BINTI HAJI MOHAM NORRAESAH +100,000
KAF INVESTMENT FUNDS BHD +100,000
WHV INVESTMENTS INC +63,844
VICTORY CAPITAL MANAGEMENT INC +30,600
CAPITAL SECURITIES INV TRUST +28,523
TA UNIT TRUST MANAGEMENT BERHAD +12,000
EASTSPRING INVESTMENTS MGMT BHD +17
OSK UOB UNIT TRUST MANAGMENT +17

whats the foreign holding for this counter?

buy after the announcement of the BNM governor. may dip further for good discount

Jaclintan: Yes I agree. and its just going to get worse for Malaysia. this is how capitalism works, it doesn't take socio-economic and moral obligation into consideration.

jacklintan At this current moment to rely on local Malaysians to do the 3Ds, it is highly impossible. We will need many foreigners to do the jobs. To have a progressive nation, hiring foreigners is inevitable.

taking this statement into account, Malaysia should hire more refugees from Syria. it will be more cost effective compared to taking Bangladeshis. furthermore, the job market will be more competitive and more locals may have to either potentially lose their jobs in the long run and also, lowering wages in general. this is a healthy way to keep the bottom 40% poor and upper 10% richer.

as you can see there are a lot of news circulating around our nation right now. especially on the newly elected bank governor. this going to be the next impact on our deteriorating economic situation. just follow and watch closely on this appointment because this will affect investors and market participants sentiment to invest in this country.

Ringgit snaps two-day rally; Ministry of Finance Secretary General Irwan Serigar Abdullah to become new head of Bank Negara Malaysia, the Wall Street Journal reported, citing an unidentified banker familiar with the matter.
• Irwan responds by saying “he doesn’t know”: Star newspaper
• MYR is likely to be the best-performing currency in Asia this year if global oil prices continue to recover, Capital Economics writes in recent note; sees USD/MYR ending 2016 at 4.00
• Ringgit falls 0.1% to 4.0925 per dollar, according to onshore prices
• USD/MYR approaching 4.0750 pivot line, which has supported pair for past seven months; click here for chart
• Yield on 3.955% govt bond due Sept. 2025 fell 2 bps last week to 3.888%
• Five-year credit-protection costs on nation declined by 11 bps last week to 154 bps, lowest in seven months, according to CMA New York data

Malaysia Govt to Stop Recruitment of Foreign Workers: Bernama
(Bloomberg) -- Govt has decided to stop recruitment of new foreign workers with immediate effect, state news agency Bernama reports, citing Deputy Prime Minister Ahmad Zahid Hamidi.
• Decision made at cabinet meeting yday
• Decision won’t cover domestic helpers
• Employers should recruit existing foreign workers whose permits in Malaysia have expired
• Cabinet considers issue of bringing in 1.5m Bangladeshi workers into Malaysia as closed

lets go.

this stock is damn cheap for its fair value.

Stabilizing global equity markets and with rising Malaysian CPI will likely induce Bank Negara Malaysia to hold its benchmark interest rate today, Bloomberg strategist David Finnerty writes.
• Overnight policy rate to remain at 3.25%, according to all 20 economists in Bloomberg survey; decision due at 6pm local time
• At its last meeting Jan. 21, the central bank said “there are heightened risks in the global economic and financial environment"; since that meeting, global equity markets have rebounded, indicating easier policy may not be needed now
• Jan. CPI rose 3.5% y/y, and BNM Gov. Zeti said Jan. 28 it may exceed 4% in 1Q, suggesting little pressure for an immediate rate cut
• Malaysian export weakness continued in Jan. with exports declining 2.8% y/y; Bank Negara Malaysia however said that month that growth remains driven by domestic demand, indicating soft exports alone may be insufficient to warrant easing

notwithstanding that its a monopoly business.

as far as I;m concern, there's nothing wrong with the rating report. cause in my opinion this stock is fundamentally overvalued but who cares, earnings are certain and could be projected till FY17.

I'm pasting the content of the report and one may verify with BIMB of its authenticity

MyEG 1HFY16 net earnings of RM58.9m and revenue of RM124.2m are inline with our expectation, making up 40% and 41% from our estimates respectively as the 1HFY is usually lower than the 2HFY. However as expected, MyEG has displayed tremendous growth for its 1HFY16 earnings and revenue with increase of 125.1% and 116% respectively arising from contribution from JPJ related services and higher transaction volumes from the online renewal of foreign workers’ permits and insurance (“FWP”) and foreign worker related services driven by increase demand for the services. We believe the figure will continue to grow for this year hence maintaining our FY16 and FY17 net earnings forecast of RM139.6m and RM238.8m respectively with a target price of RM1.61 ex-bonus based on 16x PER of FY17 EPS supported with DCF valuation of WACC 8.5%. We downgrade to “SELL” recommendation following to its current high valuation.

Seasonal Factor. MyEG 1HFY result is expected to be slightly lower than full year forecast following to most of the JPJ licensed taken in the first half of the year (January – June). The 1HFY earnings for the past 2 years have only represented 38% and 39% of MyEG full year result.

Dividend. MyEG has declared first interim dividend of 0.5sen per ordinary share. We expect MyEG will declare a total of 1.7sen of dividend (based on 30% payout ratio) to its shareholders.

Maintaining our numbers. We maintain our FY16 and FY17 net earnings forecast at RM139.6m and RM238.8m respectively.

Recommendation. We maintain our target price of MyEG at ex-bonus price at RM1.61 based on 16x PER of FY17 EPS but downgrade our recommendation to “SELL” following to its current high valuation.

https://www.bisonline.com.my/

bbg://news/stories/O3C6IZ6K512H

see it for yourself on Bloomberg.

anyone who has Bloomberg terminal would be able to see it. you can call BIMB securities yourself.

This is how it was written.

By Bloomberg Data
(Bloomberg) -- My EG Services Bhd (MYEG MK) was downgraded to "Sell" from "Hold" at BIMB Securities Sdn Bhd. The 12-month target price is MYR 1.61 per share.

btw I got this on the 1st Mar

Sorry, it was in my Bloomberg terminal. those who has it would be able to see it. on contrary it was not on the mainstream news.

My Eg Services Cut to 'Sell' at BIMB Securities Sdn Bhd < did you guys read about this? I got this from Bloomberg.

the only good news I heard was BIMB cutting MYEG to SELL today

why sore?

wait until Gov unfreeze foreigners intake.. wouldn't take long

derrick, I remember you from the date of issuance of cliq. you and including myself was optimistic about this company's future. a lesson learned.

1 yr growth at 20%, PE at 9x, P/B at 0.53, 32% Revenue from US, 29% revenue from Euro. Should be a good stock on Ringgit weakness.

why is it lousy bra stocks?

why dropped?

don't you guys think that this counter is already overpriced? P/B is already at 2.47 PE 10.37. price has gone up so much.

Any push factor for this counter? cause I'm quite optimistic about its underlying business.

Is future P/E equivalent to PEG?