Reference: http://www.bnm.gov.my/?ch=mone&pg=mone_mpc&lang=en

Stay tune.

BNM Nov meeting
23 Nov 2016
Monetary policy statement release at 3p.m. today

By Sabina Zawadzki
LONDON (Reuters) - Oil prices rose on Tuesday to their highest this month as a growing consensus emerged in the market that OPEC would overcome internal disputes and scepticism to strike a deal that materially reduces crude output.

Oil prices rise ahead of expected OPEC output cut

Brent now @ #49.77/barrel

http://www.nst.com.my/news/2016/11/190846/ringgit-still-accepted-money-changers-makkah-madinah-says-tabung-haji?m=1

Brent now @ $49.43/barrel

By David Gaffen | NEW YORK
Oil prices surged 4 percent to a three-week high on Monday, bolstered by growing conviction that major oil producing countries would agree next week to limit output.

Brent crude briefly touched $49 a barrel. The London benchmark has risen 11 percent in a week since Saudi Arabia, de facto leader of the Organization of the Petroleum Exporting Countries, started a diplomatic charm offensive to persuade more reluctant members to join its proposed output plan.

OPEC members are due to agree to a world oil freeze pact on Nov. 30 at a meeting in Vienna, Austria. In recent days, several OPEC members including Iran, along with non-member Russia, have suggested they were leaning toward a deal to limit output.

Brent crude futures LCOc1 settled at $48.90 a barrel, up $2.04, or 4.4 percent. U.S. West Texas Intermediate (WTI) CLc1 gained 4 percent to settle at $47.49 a barrel, up $1.80, after climbing as high as $47.80.

"As we get closer to the meeting the threat that they will achieve some agreement has triggered a lot of short covering," said Gene McGillian, manager of market research at Tradition Energy in Stamford, Connecticut. He added that funds were less enthused about holding positions ahead of the meeting.

The OPEC flag and the OPEC logo are seen before a news conference in Vienna, Austria, October 24, 2016. REUTERS/Leonhard Foeger
The OPEC flag and the OPEC logo are seen before a news conference in Vienna, Austria, October 24, 2016. REUTERS/Leonhard Foeger
Goldman Sachs analysts said in a note that chances of an OPEC cut succeeding have increased, and they believe the global oil surplus will shift into a deficit by the middle of next year, which would support prices.

"Our base case now is that an OPEC production cut will be announced and implemented," they wrote.

Hedge funds in the week ending Nov. 15 cut their combined net long position in the three major Brent and WTI futures and options contracts by just 3 million barrels to 422 million barrels. Such moves protect against any selloff should OPEC fail to reach agreement.[CFTC/]

"You never know with OPEC - sometimes they go to the last minute, and there are a lot of false starts," said Phil Flynn, senior market analyst at Price Futures Group in Chicago.

Russian President Vladimir Putin said he saw no obstacle to freezing oil output from its post-Soviet high of more than 11 million barrels per day.

By David Gaffen | NEW YORK
Oil prices surged 4 percent to a three-week high on Monday, bolstered by growing conviction that major oil producing countries would agree next week to limit output.

Brent crude briefly touched $49 a barrel. The London benchmark has risen 11 percent in a week since Saudi Arabia, de facto leader of the Organization of the Petroleum Exporting Countries, started a diplomatic charm offensive to persuade more reluctant members to join its proposed output plan.

OPEC members are due to agree to a world oil freeze pact on Nov. 30 at a meeting in Vienna, Austria. In recent days, several OPEC members including Iran, along with non-member Russia, have suggested they were leaning toward a deal to limit output.

Brent crude futures LCOc1 settled at $48.90 a barrel, up $2.04, or 4.4 percent. U.S. West Texas Intermediate (WTI) CLc1 gained 4 percent to settle at $47.49 a barrel, up $1.80, after climbing as high as $47.80.

"As we get closer to the meeting the threat that they will achieve some agreement has triggered a lot of short covering," said Gene McGillian, manager of market research at Tradition Energy in Stamford, Connecticut. He added that funds were less enthused about holding positions ahead of the meeting.

The OPEC flag and the OPEC logo are seen before a news conference in Vienna, Austria, October 24, 2016. REUTERS/Leonhard Foeger

Brent now @ $48.90/barrel

Will We Ever See $100 Oil Again?

By Oilprice.com, November 21, 2016, 08:10:48 AM EDT
A report from auditors PricewaterhouseCoopers (PwC) has revealed that oil prices are unlikely to climb back to the $100 level, and will have a limited rise from the current spot price to between $60 and $70 per barrel over the next few years.

The rise, which would pull oil prices up from the below $50 per barrel mark where it has sunk since late October, should facilitate a rise in capital expenditure (capex), PwC argued.

The report highlights the precipitous decline in global upstream capex, where some commentators have said that there has been a 40 percent reduction in this genre of spending, compared to the highs of 2014.

Brent uptrend to $48 and above

Brent @ $47.91/barrel

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Oil prices are jumping on Monday morning, boosted by hopes of a looming production cut and a weaker dollar.

Henry Croft, a research analyst at Accendo Markets, says in an emailed statement: "Crude Oil prices are once again being buoyed by improved market optimism that OPEC members will be able to reach a deal at the end of this month, being further helped by the USD trading below its record highs posted on Friday."

TEHRAN, Nov. 21 (UPI) -- OPEC members are shooting for crude oil priced at around $60 per barrel if production agreements come through, Iran's oil minister said.

Iranian Oil Minister Bijan Zangeneh met during the weekend in Tehran with Mohammad Sanusi Barkindo, the secretary general of the Organization of Petroleum Exporting Countries, of which Iran is a member. Both sides discussed the prospects of upholding a production ceiling proposed in September in Algeria and, if it's formalized, Iran's oil minister said crude oil prices could rally up to 25 percent.

"OPEC members have considered a price range of $55 to $60 [per barrel]," he was quoted by the Oil Ministry's news website SHANA as saying.

The price for Brent crude oil was moving near $48 per barrel in pre-market trading Monday, a rebound of around 60 percent from its low point for the year.

OPEC members are working to build consensus around an agreement to hold output at around 32.5 million barrels per day, the low end of the proposal offered from Algeria. OPEC last reported that its 14 members produced a combined average of 33.6 million barrels per day, above the high end of the Algerian proposal.

SINGAPORE (Reuters) - Oil prices rose around 1 percent on Monday as producer cartel OPEC moved closer to an output cut to rein oversupply that has kept prices low for over two years.


International Brent crude oil futures <LCOc1> were trading at $47.35 per barrel at 0023 GMT (7.23 p.m. ET), up 49 cents, or 1.05 percent, from their last settlement.

U.S. West Texas Intermediate (WTI) crude <CLc1> was up 0.98 percent, or 44 cents, at $46.14 a barrel.

Traders said that markets were being supported by advancing plans by the Organization of the Petroleum Exporting Countries (OPEC) to cut production in a bid to prop up the market following over two years of low prices as a result of output exceeding demand.

Such a deal has proved tricky to agree as some producers, most notably Iran, have been reluctant to cut output.

But an agreement has become more likely as Iran, keen to increase output after international sanctions against it were lifted last January, was expected to be given an exemption if it agrees to cap its production rather than cutting it, leaving the onus of a an outright reduction on other OPEC-members, including its political rival and de-facto OPEC-leader Saudi Arabia.

As a result, Barclays said that some form of production cut deal was likely, but the bank added that any such agreement might have little impact on markets.

"We expect OPEC to agree to a face-saving statement," the British bank said, but added that "U.S. tight oil producers can grow production at $50-55 (per barrel) and will capitalize on any opportunity afforded to them by an OPEC cut".

Beyond the talk of a potential production cut, there were also signs of ongoing market weakness.

Japan, the world's fourth biggest oil consumer, on Monday reported a fall of 9.5 percent in crude oil imports in October from the same month a year earlier, to 2.78 million barrels per day.


(Reporting by Henning Gloystein; Editing by Joseph Radford)

Brent now @ $47 and above

Brent @ $46.86/barrel

Benchmark United States crude gained $2.49, or 5.7 percent, to $45.81 a barrel in New York. Brent crude, used to price international oils, rose $2.52, or 5.7 percent, to $46.95 a barrel in London. Exxon rose $1.54, or 1.8 percent, to $86.82 and Apache added $4.46, or 7.6 percent, to $63.39.

Tuesday’s trading was a partial reversal of the moves investors have made since the presidential election one week ago. Tech stocks have been losing ground recently, but Microsoft picked up $1.14, or 2 percent, to $58.87, and the graphics processor maker Nvidia rose $2.55, or 3 percent, to $86.19.

Bond prices edged higher, sending long-term interest rates slightly lower. Bond prices had fallen sharply since the election over worries that President-elect Donald J. Trump’s spending plans would lead to higher inflation. That had sent yields to their highest levels this year. But the yield on the 10-year Treasury note declined to 2.23 percent from 2.27 percent. Companies that pay large dividends, like phone companies, also changed course and rose.

However, the dollar continued to get stronger and reached its highest level in almost a year. It rose to 109.16 yen from 108.37 yen. The euro slid to $1.0726 from $1.0732.

Berkshire Hathaway, the holding company of Mr. Buffett, the billionaire investor, bought stock in United Continental, American Airlines and Delta. United picked up $3.12, or 5 percent, to $66.06 and American gained $1.36, or 3.1 percent, to $44.76.

The aerospace giant Boeing fell after United said that it would postpone delivery of 61 new Boeing 737 jets that it planned to buy. Boeing stock lost $1.88, or 1.3 percent, to $148.11.

Equity One will combine with Regency Center in a deal that combines two real estate investment trusts that own shopping centers. The two companies have more than 400 properties, most of them anchored by grocery stores. Equity One climbed $1.90, or 6.8 percent, to $29.77, while Regency Center lost $2.95, or 4.2 percent, to $66.91.

The Chinese e-commerce company JD.com climbed after it reported strong quarterly results. The company also said it might reorganize its JD Finance unit, which runs its internet finance business. The stock climbed $2.70, or 11.4 percent, to $26.41.

Gold rose $2.70 to $1,223 an ounce. Silver picked up 15 cents, to $17.04 an ounce, while copper gave up 2 cents, to $2.51 a pound.

The FTSE 100 index in Britain rose 0.6 percent and the CAC-40 in France was also 0.6 percent higher. In Germany, the DAX gained 0.4 percent. The South Korean Kospi shed 0.3 percent and the Nikkei 225 in Japan finished little changed. In Hong Kong, the Hang Seng gained 0.5 percent.

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© 2016 The New York Times Company

By THE ASSOCIATED PRESS
November 15, 2016
Stocks on Wall Street climbed on Tuesday as the price of oil made its biggest jump in seven months and energy companies rose with it.

Technology stocks like Microsoft and Alphabet, Google’s parent, traded higher and bond yields slipped, a break with the pattern since last week’s election.

The Dow Jones industrial average picked up 54.37 points, or 0.3 percent, to 18,923.06, as those gains were partly held back by losses for the retailer Home Depot and the aerospace company Boeing. The Standard & Poor’s 500-stock index rose 16.19 points, or 0.7 percent, to 2,180.39. The Nasdaq composite index added 57.23 points, or 1.1 percent, to 5,275.62.

Oil rose almost 6 percent as investors once again grew hopeful that the OPEC cartel will agree to cut fuel production in a few weeks. Companies such as utilities and telecom service providers climbed as bond yields fell slightly after a week of large gains. Airlines rose after Warren E. Buffett made a surprise investment in three carriers.

Exxon Mobil and Occidental Petroleum made large gains as the price of oil rose by the largest amount since early April.

Brent rebounded to $46.96/barrel

We outsider don't know their secret recipe

KNOW

There maybe a good news that hidden at the back so, people sell it lower price. When they hold enough shares, A good news is born. Then price go up. Omly the people inside the company.

Trump shock slowly fading.

Brent recover to $46.58/barrel

Google us election result

If one of them reach more than 270 votes win the President.

Currently Clinton 209 votes vs Trump 238 votes

Only us President nominee get more than 270 votes will be next us president.

If clinton win the election, more stock counter will uptrend.

People hope it fall and secretly accumulate for their own. When up, they say it is food counter. So, belief in market trend more than other people. By than, you will win the game. Trust you own sense.

If the jackport trigger, then you win the game.

Like you set your bet amount in slot machine.

UPDATE 2-Petronas weighs sale to exit $27 bln Canada LNG project - sourcettp://www.cnbc.com/2016/10/01/reuters-america-update-2-petronas-weighs-sale-to-exit-27-bln-canada-lng-project--sources.html

This people act as scare crow. They just wanted to scare the scary crow away and buy lower price.

If wanted to close shop, why so many people buying the shares? Is this people stupid until buy large amount of this company shares?

Saudis, Gulf OPEC Members Offer To Cut 4% Of Oil Output

Just when a potential OPEC deal was looking more like wishful thinking than a reality, sources told Reuters on Thursday that Saudi Arabia and its Gulf OPEC producer allies had signaled that they would be ready to cut their near record crude oil production by 4 percent.

http://www.malaysiastock.biz/Corporate-Infomation.aspx?type=A&value=P&securityCode=7145

PSIPTEK Financial Information

Market Capital (RM)
: 36.45m

Number of Share
: 316.96m

EPS (cent)
: 0.94 *

P/E Ratio
: 12.23

ROE (%)
: 1.65

Dividend (cent)
: 0.000

Dividend Yield (%)
: 0.00

Dividend Policy (%)
: 0

NTA (RM)
: 0.570

Par Value (RM)
: 0.100

Malaysia's construction sector likely to gain the most from next year's budget
KUALA LUMPUR (NewsRise) -- Malaysian construction companies stand to gain the most after the government announced plans to push ahead with projects ranging from rail to bridges worth nearly $15 billion to develop infrastructure and spur economic growth through the next year, analysts said.

In the federal budget unveiled on Friday, the government announced laying a 600-km rail network, dubbed East Coast Rail Line that will cost an estimated 55 billion ringgit ($13 billion). Malaysia also plans to spend 1.2 billion ringgit to build and upgrade some 616 kilometers of roads and bridges in the country.

"The increase in development expenditure and sustained infrastructure spending is positive for the construction companies," said Affin Hwang Investment Bank's analyst Chue Kwok-Yan. "This ensures a healthy pipeline of projects for the construction companies to grow their order books."

For the past several years, Malaysia has been spending hefty cash to develop and modernize some of its infrastructure to support an economy that grew an average 6.0% annually for the past six decades. Next year, the third-largest Southeast Asian economy is expected to expand between 4.0% and 5.0%.

Once an agrarian economy, Malaysia has emerged as one of the most industrialized countries in the region as it channeled part of cash earned from oil exports to build roads, ports and other massive infrastructure projects including the iconic Petronas twin-tower.

Economic growth however has decelerated in recent quarters due to slump in commodity prices and sluggish global demand for its exports. In the second quarter, Malaysia's economy grew 4% year-on-year, the slowest pace in nearly seven years.

Still, construction remains the fastest-growing activity although the sector accounts for less than 5% of gross domestic product. The sector is expected to grow 8.3% in 2017, according to official forecast, supported mainly by infrastructure projects such as mass rapid transit project in the capital city of Kuala Lumpur.

"We expect construction growth to remain strong in 2017," buoyed by sustained development expenditure, infrastructure and rural development, said Hong Leong Investment Bank.

Between January and September, construction contracts worth 49.5 billion ringgit has been awarded in Malaysia. That was a record high and more than twice the value of projects awarded in 2015, the bank noted.

Beneficiaries of Malaysia's fiscal largesse in the construction sector includes Gamuda, IJM Corporation and Sunway Construction, said UOB Kay Hian's analyst Vincent Khoo. Building materials firms such as steel producer Ann Joo Resources may also benefit from Budget 2017, he added.

Steel companies runding for merging. Why oil and gas companies don't want to follow the same way there do.

OPEC Will Drive Oil Price Up To $60 And US Shale Players Would Bank It
Gaurav Sharma , CONTRIBUTOR
Like it or not, looks like the oil price is heading towards $60 per barrel, driven on by OPEC with more than tacit support from Russia. If soundbites received at the conclusion of the International Energy Forum in Algiers on 28 September are to be believed, the cartel is on course to cut production to a range of 32.5 to 33 million barrels per day (bpd) led by Saudis, in a move likely to be supported by the Russians with some action of their own.

Since both the Russians and Saudis have started talking about “prices” rather than production levels, the coming together of Moscow and Riyadh – who between them are pumping over 20 million bpd – along with the rest of OPEC for some good old fashioned market tinkering appears inevitable.

Reuters
What to watch for - Malaysia's 2017 budget

Oct 20 (Reuters) - Malaysia's Prime Minister Najib Razak presents the government's 2017 budget on Oct. 21. Below are some items that could feature in the coming year's budget, according to analysts' research notes and Malaysian media reports.

For a PREVIEW of the budget, please see CASH AID

Bank RHB foresees a 100 ringgit ($24.07) hike in cash handouts for low-income households, bumping up the allocation to about 6.6 billion ringgit next year in a bid to stimulate consumer spending. For 2016, it was increased by 50 ringgit to 1,000 ringgit per household.

GST

The government will likely maintain the goods and services tax introduced in April 2015, at 6 percent to avoid any disruption to household expenses and cost of doing business, says asset management firm Affin Hwang.

CORPORATE TAX

Affin Hwang thinks a 1 percentage point cut to corporate tax effective, effective in 2018, will be announced. The rate was cut by 1 percentage point this year to 24 percent. PERSONAL INCOME TAX

There will likely be no cut to personal income tax rates, though there may be more provisions for tax relief next year, according to Maybank Investment Bank.

BIMB Securities said the government may increase tax income relief for "lower middle income" individuals. It says the size of the tax deductions they can claim for themselves and for children below aged 18 may be increased to 2,500 ringgit from 2,000 ringgit. Relief for a taxpayer whose spouse has no income may be increased to 4,500 ringgit from 4,000 ringgit, BIMB said.

INDUSTRIES

Prime Minister Najib Razak has said the 2017 budget will also focus on industries reeling from the sluggish global economy.

INFRASTRUCTURE PROJECTS

Budget 2017 will likely firm up details of major infrastructure projects that have yet to take off to maintain momentum in the sector to support growth, says Maybank IB. These would include highway and public transport projects in the peninsula and Sabah, and a timeline for the implementation of the Kuala Lumpur-Singapore High Speed Rail project.

Why Oil Could Head Back To $90 Sooner Than Thought

I don’t know much about fashion, but I have heard that blue is the new black. And I know that by the time I buy blue, everyone else will be wearing green.

In the oil business, modish pundits are now pronouncing, “60 is the new 90,” championing the thesis that productivity gains, cost improvements and price wars have pulled the global clearing price of oil to $60/B, down from $90/B a couple of years ago.

The oilfields of the world share some similarity to fashion ateliers.
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x

Designers in Paris and New York collude every fall to convince us all to wear new colours in the spring. Meanwhile, innovators in Houston and cartel leaders in Vienna claim that $60 a barrel is the new, long-term marginal cost of oil. As a result, a $90-per-barrel breakeven cost has become about as appealing to an oil investor as a wide necktie to a millennial.

Here’s the thing: Not everyone looks good in blue and not all producers have the rocks, expertise and infrastructure to make their financial statements look good at $60 a barrel.

Behind the scenes, the oil industry has become more discerning in its own way.

If there is one new style that’s obvious it’s that “short-cycle” investing is the new “long cycle.” In other words, smaller capital outlays, faster payback and more certain returns have become de rigour for oil and gas investing. No more multi-billion-dollar, decade-plus projects that are subject to the long-term vagaries of geopolitics, the threat of expropriation, corruption, civil war, policy uncertainty or outright obsolescence.

Like a traditional navy suit, investing in short-cycle projects is a fad that’s unlikely to end soon. Premier American oil fields like the Permian, Eagle Ford and Bakken are conducive to drilling when the trading screen flashes $60 in New York. So too are equivalent Canadian oil plays that are becoming trendy.

Psiptek have low debts compared to perisai. From current ratio, it's current assets is more than its current liabilities which means liquidity in its cash flow. It also earn profit each year. Low debts mean lower the risk. Can hold it while low, and wait it to up in future.

http://klse.i3investor.com/servlets/stk/7145.jsp

Another offshore services firm is seeking leniency from bond holders to weather the oil price rout.

Ezra Holdings yesterday said it wants to loosen covenants on $150 million bonds maturing in 2018, and is in discussions with various parties on its financial obligations.

It said in a statement to the Singapore Exchange: "The sustained downturn in oil company expenditure continues to result in lower industry activity... Declining charter rates and excess capacity have affected the financial performance and fleet utilisation of subsea and offshore players."

Ezra's proposals to waive various financial covenants that could tip it into default will be put to a vote on Nov 9. It is offering note holders $250 for every $250,000 of principal they hold if they vote in favour of the proposals before 5pm on Nov 2, and $125 if they vote favourably after that date.

Though Ezra did not give any updates on its financial situation yesterday, it said it was assessing its investment in associate company Perisai Petroleum Teknologi and the accounting impact arising from the troubled oil and gas contractor's debt restructuring.

Perisai told Bursa Malaysia last week that it was insolvent, after failing to repay holders of $125 million of its notes which matured on Oct 3. Heavily leveraged Ezra is Perisai's single largest shareholder, with a 20.6 per cent stake through Emas Offshore and another unit.

$150m The principal value of Ezra Holdings' 4.875 per cent notes issued in 2013 and maturing in 2018.

$125m The principal value of Perisai Petroleum Teknologi's 6.875 per cent notes issued in 2013 and 2014 which it failed to repay on Oct 3.

Perisai has a hold over Ezra in the form of a put option, which it can exercise to sell its 51 per cent stake in two units to Emas for US$43 million (S$60 million), should it need the cash.

Ezra said it will share updates on its current position at an informal meeting for holders of its 4.875 per cent notes next Tuesday. Ezra held cash and cash equivalents of $43.6 million as of May 31, and must pay note holders a $3.66 million coupon next Monday.

OCBC Credit Research analyst Nick Wong said potential impairments resulting from the Perisai collapse could eat away at Ezra's covenant headroom. "Specifically, Ezra had a financial covenant that required it to have a minimum consolidated total equity of US$600 million. Ezra last reported total equity of US$797.8 million as of end-May. Though the environment remains challenging, the Perisai situation would have accelerated matters."

He added that Ezra could also be seeking to restructure loans held at the Emas Offshore level, or to resolve the cross defaults that affected the joint ventures which Emas Offshore had with Perisai as a result of Perisai's default. "We will need more clarity from management regarding this before bond holders will be willing to give up this covenant."

Ezra shares closed 0.2 cent or 3.57 per cent lower at 5.4 cents after the announcement yesterday.

The Straits Times understands Perisai has been served a letter of demand from its trustee on behalf of its note holders, although the firm has not disclosed this and could not be reached for verification yesterday.

Meanwhile, Singapore saw its fifth corporate bond default here in 12 months after rig and vessel charterer Swissco Holdings missed a $2.85 million coupon payment on Sunday. Holders of at least 25 per cent of the $100 million notes filed a notice demanding immediate payment with Swissco's trustee yesterday, according to documents seen by ST.

PETALING JAYA: Perisai Petroleum Teknologi Bhd, a Practice Note 17 (PN17) company, has received a notice of demand for the payment of its S$125 million (RM377.5 million) bond, which was due on Oct 3.

Perisai told Bursa Malaysia that it, together with its wholly owned subsidiary Perisai Capital (L) Inc, had received a notice dated Oct 17 from the trustee of the notes notifying them that the redemption amount of the notes together with interest is due.

Perisai said it is seeking legal advice on the notice of demand and will make announcements as and when necessary.

The bond carrying a coupon rate of 6.875% is part of the company’s S$700 million multicurrency medium-term notes programme.

Perisai had sought to extend the maturity date of the bond to Feb 3, 2017 from Oct 3, 2016. It was, however, rejected by its bondholders at a meeting called on the due date.

The default had also resulted in the company slipping into the PN17 status. It has to submit a regularisation plan to the regulator within the next 12 months.

Nonetheless, Perisai, together with its joint venture partner Emas Offshore Ltd (EOL), are in talks to secure US$20 million (RM83.8 million) financing from a financial institution.

As part of the indicative financing package, Perisai was also in talks with EOL to resolve various issues among themselves, including a put option that was granted by EOL to Perisai for Perisai’s 51% shareholding in SJR Marine (L) Ltd.

Perisai and EOL are joint-venture partners in Emas Victoria (L) Bhd and SJR.

Perisai shares were down one sen to close at 6.5 sen yesterday, with some 9.54 million shares changing hands.