I hope too :)

u always run run aso no angpow :D

Oil might be behind ringgit’s election charm

SINGAPORE (Feb 5): As FX traders look ahead to Malaysia’s upcoming general election, they might want to look back at past polls for trading cues. In four out of the last five polls going back to 1986, the ringgit has strengthened in the six-month periods leading up to the vote (omitting years when it was pegged to the U.S. dollar).

How might the Malaysian currency trade heading into the general election this year, due by August? If the past is a guide, keep an eye on oil. The price of oil was also rising in the run-up to the polls -- suggesting the ringgit may have been reflecting that strength. Oil constitutes a declining, yet still significant, share of Malaysia’s exports and government revenues. So it’s reasonable to expect the ringgit to appreciate when oil is rising.

Trading in Oil, Ringgit -- Six Months Before Elections

Aside from higher oil prices at the moment, the ringgit has other factors in its favor heading into this year’s general
election:

* The previous multi-year sell-off in the ringgit increases its upside potential.

* Capital inflows are supported by Bank Negara Malaysia’s January rate hike and the prospect of more tightening to come.

* Exports more broadly are supported by sustained momentum in global demand.

Oil Up, Ringgit Up, Same Government Most Times

Malaysia’s economy is less dependent on oil than it has been in the past and the ringgit is more independent. Indeed, the ringgit languished in 2016 -- when oil prices rallied 200%. Even so, it might not hurt the incumbent’s chances this year if oil continues to climb a bit longer. THEEDGE

Bursa Malaysia 4Q net profit up 10%, pays 18.5 sen dividend

KUALA LUMPUR (Feb 5): Bursa Malaysia Bhd’s net profit for the fourth quarter ended Dec 31, 2017 (4QFY17) rose 10.2% year-on-year (yoy) to RM55.3 million, from RM50.2 million, due to better performance of the securities market.

Its quarterly earnings per share stood at 10.3 sen, compared with 9.4 sen.

In a filing with the local exchange, the bourse showed revenue for 4QFY17 grew 14.1% to RM141.2 million, versus RM123.7 million a year ago.

Bursa Malaysia declared a dividend of 18.5 sen amounting to RM99.5 million for the financial year ended Dec 31, 2017 (FY17), as opposed to 17 sen in 4QFY16.

Net profit for FY17 climbed 15.2% to RM223 million from RM193.6 million from FY16, on the back of revenue that went up 9.9% to RM556.8 million compared to RM506.8 million a year ago.

Total dividend for FY17 was 53.5 sen, in comparison to 34 sen for FY16.

According to Bursa Malaysia, its profit after tax and minority interest (PATAMI) was the highest recorded since 2007, and highest full year operating revenue since its listing in 2005.

Its chief executive officer Datuk Seri Tajuddin Atan said 2017 was one of the strongest years for the local equity market, where it saw a 9.4% growth and 14% rise yoy in market capitalisation.

There was significant increase in retail participation, up 41% yoy, in line with its continued focus to engage and educate via its retail outreach effort and financial literacy programmes, further expanding its retail base.

“We also saw RM10.8 billion net foreign inflow in 2017. Against this backdrop, the exchange delivered a solid performance in FY17, achieved on the back of our highest-ever operating revenue and the outcome of our strategic initiatives implemented over the years,” Tajuddin said in a statement.

Moving forward, he said the bourse will continue to strengthen its proposition as ASEAN’s multinational marketplace with global access.

In FY17, the securities market trading revenue grew 21.9% to RM259.6 million from higher average daily trading value for Securities Market On-Market Trades that rose by 27.7% to RM2.3 billion.

An increase in initial public offerings’ listing fee and new structured warrants listed, and higher processing fees from corporate exercises, contributed to the 7.4% increase in non-trading revenue to RM166.1 million in the year.

In FY17, Bursa Malaysia attracted 13 new listings, raising a total of RM7.4 billion compared with RM600 million in FY16.

Tajuddin said its initiatives have built a strong foundation, enabling it to capitalise on new opportunities.

“In 2017, we launched the Islamic selling and buying negotiated transaction and made a revision in the tick rule to provide market participants with greater price flexibility in performing regulated short selling.

“We will continue to work closely with our intermediaries to improve liquidity and increase trading activities, and expand our marketing efforts to build a strong IPO pipeline,” Tajuddin added.

The local exchange also plans to widen its products and services to create a conducive capital market ecosystem for all market participants.

Meanwhile, the securities market segment is expected to remain resilient, given the recent economic data and equity market performance, ringgit’s strengthening, as well as the expected positive corporate earnings.

Local and external factors such as geopolitical developments and the tightening of monetary policies in major economies in 2018 might influence trading volatilities.

In the derivatives market, volatility in commodity prices and the underlying equity market will continue to affect hedging and trading activities of the FCPO and FKLI contracts.

At 2.30pm, Bursa Malaysia dipped eight sen or 0.73% to RM10.80 with 341,800 shares done, for a market capitalisation of RM5.8 billion. THEEDGE

MPOA urges the government to halt trade deals with EU until ban on palm oil lifted

KUALA LUMPUR: Malaysian Palm Oil Association (MPOA) has urged the government to halt trade deals with the European Union until the latter’s ban on palm oil is lifted.

Chief executive Datuk Nageeb Wahab said EU’s discriminative action against palm oil will harm the livelihoods of more than three million farmers across developing nations.

“The ban would threaten the livelihood of 650,000 smallholders and over 3.2 million Malaysians who rely on the palm oil industry.

“The smallholders account for almost 40 per cent of the total planted area in the country,” he said in a statement.

MPOA concurs with the government that the ban is a discriminatory action taken by the EU, he added.

On January 17, the EU Parliament passed a resolution which requires that only sustainably-produced palm oil can be imported to the EU market after 2020.

It has also voted in favour of an amendment to a draft law on renewable energy that calls for reducing to zero the contribution from biofuels and bioliquids produced from palm oil as of January 2021.

Nageeb said MPOA fully supports Malaysia’s initiative to form an alliance called “Friends of Palm Oil” with eight other palm oil producing countries to champion the industry’s future to the EU.

“The initiative calls for an urgent need to clear many misconceptions by the EU on palm oil where the EU have chosen to ignore many factual information such as Malaysia’s 57 per cent forest cover,” he added. NST

MCT shareholders told to reject unfair, unreasonable takeover offer

KUALA LUMPUR (Feb 5): MCT Bhd shareholders have been told to reject the takeover bid launched by Philippines-based property developer Ayala Land Inc's unit Regent Wise Investments Ltd, which has been deemed "not fair and not reasonable" by independent adviser Kenanga Investment Bank Bhd (Kenanga IB).

On Jan 2, Regent Wise bought 230.12 million shares or a 17.24% stake in MCT from Tan Sri Goh Ming Choon for RM202.5 million or 88 sen per share.

In an independent advice circular today, Kenanga IB said in view that the offer price of 88 sen is lower than and represents a discount of 36.23% over the estimated fair value per MCT share of RM1.38, the offer is deemed not fair.

The offer is also not reasonable, considering the offeror intends to maintain MCT's listing status, as well as the liquidity of MCT shares, with an average daily trading volume of 73.77 million for the past 12 months, the circular said.

"Premised on these and the evaluation by Kenanga IB as a whole, Kenanga IB is of the opinion that the offer is not fair and not reasonable. Accordingly, we advise and recommend that the holders reject the offer," the research house added.

At 3.10pm, MCT shares were unchanged at 87.5 sen, with 229,000 shares done, bringing it to a market capitalisation of RM1.17 billion. THEEDGE

no worry, still holding, enough bullet top up

agree locomania

top losers conquered by O&G counters

this comes under the scrip borrowing and lending agreement that u must sign, if u dont have better dont talk LOL

u need to have special acc to do this? Money upfront LOL

http://www.thesundaily.my/news/2017/04/17/rules-place-orderly-short-selling-activities-bursa-malaysia

KUALA LUMPUR: Bursa Malaysia has assured investors that it has put in place sufficient measures to ensure any short-selling, which is deemed to have a speculative element that could shake the market confidence, is done in an orderly manner.

According to Bursa Malaysia executive vice-president of market development of securities market Shahrul Amry Abd Malek, Bursa Malaysia has imposed robust compliance requirements for regulated short-selling (RSS) in safeguarding investors’ interests, such as the need for brokers to establish internal controls and processes, before carrying out the RSS business.

To ensure eligible securities have sufficient liquidity and are less susceptible to manipulation, he said, these securities must fulfil certain requirements, such as having a daily market capitalisation of RM500 million for at least three months; at least 50 million units in public float; and average monthly traded volume of at least one million units for 12 months.

Plus, as short-selling is deemed a high-risk investment tool, Shahrul Amry said, Bursa Malaysia has put in place the necessary surveillance system to ensure a orderly RSS market.

“We know who is borrowing and who is lending as well as the designated account. There is a tick rule and you can only short-sell stocks that are more liquid,” he told SunBiz in a recent interview.

Under the rules, an approved RSS security cannot be short-sold when the trading volume hits 10% of its total capital on an aggregate basis and 3% within a day.

Shahrul Amry pointed out that Bursa Malaysia’s RSS framework is in line with the International Organisation of Securities Commission’s principles for effective regulation of short-selling, which are control, reporting and transparency, compliance and enforcement framework.

RSS can only be keyed in at the best offer price and sellers are not able to hit the bid price. Shahrul Amry said this limits the ability of short-sellers to push down share prices as they must wait for the securities to be bought.

On claims that the local stock is not “broad and deep” enough to have more RSS activities, Shahrul Amry said it is a “chicken or egg” situation.
“If you look at the vibrant developed market, they have all these. It is not that they have it after becoming vibrant. It’s part of the ecosystem that you need to be vibrant,” he opined.

A total of 237 stocks can be short-sold, Bursa Malaysia data shows. The list is reviewed twice a year.

Shahrul Amry believes that the RSS framework could facilitate more trading activities and price discovery while enabling the implementation of hedging and arbitraging strategies by market participants.

“It gives efficient and better pricing for the businesses. When more people participate, then the market will become more efficient,” he said.

Shahrul Amry also touched on other investment instruments such as exchange-traded funds (ETFs), put warrants and convertible bonds, which need more market participation.

“If you don’t allow short-selling, then the market makers will hold a lot of the position, then it is very costly for them. But if they can just borrow and short-sell, then it will be less costly for them to do this business.

“If more people are willing to become market makers for ETFs, then you’ll have a better ETF market. Not just ETFs, it also includes put warrants, convertible bonds,” he added.

u should check with bursa website

the above latest announcements dd 2 Feb

The Rex Announcement also goes on to extract certain lines of an earlier Isle of Man judgment dated 31 May 2016 out of context, in an attempt to cast further aspersions on GHL. Fortunately, the same judge in the subsequent costs judgment dated 11 July 2016 expressly clarified (when rejecting Lime Plc’s application for costs on an indemnity basis) that “there was nothing in the conduct of [GHL] or in the circumstances of the case which takes the case outside the norm”.



In addition, the Rex Announcement attempts to create an impression that there is a substantial costs order against GHL relating to the derivative application which, for improper reasons, has not been paid. The actual position is that Lime Plc has not even begun the requisite assessment and verification process with regard to the costs order made in its favour. As even the amount payable has not yet been duly determined, it is plainly wrong to suggest that GHL has not paid what is required. In this regard, whatever excessive amounts sought by the liquidators of Lime Plc based on funding from Rex, are irrelevant and without basis. Further, Lime Plc also owes the Group various outstanding amounts which are pending settlement in the course of Lime Plc’s winding up.



Further details addressing the above points can be found, among others, in the Company’s earlier announcement dated 7 September 2016.



The Company and its subsidiaries fully reserve all their rights.

bursa celebrating early CNY, red red almost everywhere

I've no idea, some say because of the ringgit strength

if u r using IB's money u need to be extra careful, I don't think this counter good for contra players

if you use cash you better keep or top up

not selling not buying - on the sidelines

Amid stock market selloff, US profit forecasts rise

NEW YORK: Wall Street's main stock indexes suffered their worst week in two years as bond yields soared and renewed fears of inflation gripped investors.

But amid the selloff, corporate earnings forecasts keep improving.

Forecasts for earnings, one of the fundamental factors that drives stock prices, are rising fast as analysts factor in benefits from the U.S. tax overhaul.

Optimism over forecasts has caught the attention of anxious investors, who hope that strong earnings can support lofty stock valuations and offset the concerns over rising bond yields and the pace of Federal Reserve rate hikes. Rising interest rates in general mean higher borrowing costs for companies.

image: https://content.aimatch.com/default.gif

This week, fears of higher rates overwhelmed the upbeat profit picture as the benchmark S&P 500 stock index fell 3.9 percent and raised some concern about a deeper pullback.

"This uptick in bond rates has everybody nervous obviously," said Gary Bradshaw, portfolio manager at Hodges Capital Management in Dallas, Texas.

"But we step back and look, and so far earnings have been awful good. Even though you have seen rates move up some here, they are still very low, inflation is still low," he said.

With half of the S&P 500 index companies still to report fourth-quarter results and potentially give guidance on 2018, profit estimates are likely to increase further.

Even after the selloff this week, the S&P 500 is up 3.3 percent for this year and that is on top of a 19.4-percent gain for 2017. Whether this week's downturn in global equity markets continues will depend in part on upcoming earnings reports.

Reports from both Apple and Google parent Alphabet late Thursday disappointed investors, as did Friday's results from ExxonMobil and Chevron, but fourth-quarter S&P 500 company results overall have been much stronger than expected.

Among changes to the tax law, the corporate income tax rate drops to 21 percent from 35 percent, so earnings estimates for the first quarter and all of 2018 have jumped.

First-quarter profit growth for S&P 500 companies is now estimated at 17.7 percent, according to Thomson Reuters data, up from 11.7 percent on Dec. 20, when both houses of Congress approved the tax revamp. Earnings growth for 2018 is now forecast at 18.2 percent, up from 11.5 percent on Dec. 20.

Typically, expectations decline as the earnings reporting season for the quarter approaches. On average, profit growth expectations fall by four percentage points from the start of the quarter to the start of earnings season, said David Aurelio, senior research analyst at Thomson Reuters.

This January, revisions to S&P 500 2018 earnings estimates were 4.3 times more positive than negative, according to Bank of America Merrill Lynch. The one-month ratio of upward to downward revisions was the highest since at least 1986, as far back as the bank's data goes.

All of the S&P 500 companies together are expected to show earnings of about $155 per share this year in aggregate, up about $9 since Dec. 20, Thomson Reuters' estimates show.

The tax reform benefit is estimated to add more than that, however, a full $13, which suggests there "there is more room to run," BofA-ML strategists said in a note.

In addition to the tax law, U.S. companies' earnings are benefiting from improving global economic growth and the weaker U.S. dollar, which helps U.S. multinationals exports sales, said Jill Carey Hall, equity and quant strategist at Bank of America-Merrill Lynch.

Those factors could help to underpin U.S. earnings even after the tax benefit is priced in.

"Stocks may be have been overbought, but some of that was alleviated this week, and global growth and profit growth are still intact," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.

Among companies due to report next week are Walt Disney , General Motors, several biotech companies including Gilead and restaurants including Chipotle Mexican Grill. - Reuters
Read more at https://www.thestar.com.my/business/business-news/2018/02/04/amid-stock-market-selloff-us-profit-forecasts-rise/#6vebpYXvfKrBPB7W.99

Useful Knowledge for Investors - Koon Yew Yin
https://klse.i3investor.com/blogs/koonyewyinblog/145835.jsp

Exxon sees global oil demand plunging by 2040 under climate regulations

HOUSTON: Exxon Mobil Corp said on Friday that it expects global oil demand to drop sharply by 2040 if regulations aimed at limiting the impact of greenhouse gas emissions on climate are fully implemented.

Under this scenario, Exxon projected world oil consumption will drop 0.4 percent annually to 2040 to about 78 million barrels per day (bpd). That is about 25 percent below current levels, which the U.S. Energy Information Administration puts at 98 million bpd.

The findings were contained in a report produced after Exxon's shareholders supported a climate-impact resolution last year and Exxon's board approved a plan to analyze the effects.

Exxon's climate-impact report comes roughly three years after almost 200 nations met in Paris to set a goal of limiting the rise in the world's average surface temperatures.

President Donald Trump has since pulled the United States out of the Paris climate accord, and it was unclear whether Paris accord policies would be fully implemented around the world.

The study added weight to arguments that laws and regulations to limit the rise in global temperatures to below 2 degrees Celsius (3.6 degrees Fahrenheit) from pre-industrial levels will succeed in curbing fossil fuel consumption.

But Exxon stopped short of laying out how efforts to limit carbon emissions could impact its business, data long sought by some shareholders. In a separate report published on Friday that did not take into account climate legislation, Exxon forecast population growth will drive oil demand higher by about 20 percent by 2040.

Exxon's study saw demand for natural gas, considered a cleaner-burning fuel than oil, growing 0.5 percent per year to about 445 billion cubic feet per day under the same scenario.

Demand for power generated by solar panels, wind turbines and other renewable sources is expected to rise 4.5 percent annually through 2040 under this scenario, Exxon said.

The report followed years of pressure by investors and environmental activists urging the company to describe the potential impact of a warming climate on its operations. Last year, their climate-impact resolution was backed by 62 percent of shares voted at Exxon's annual meeting.

The report came the same day that Exxon posted quarterly results that disappointed Wall Street, sending its shares down more than 5 percent.

While sponsors of the shareholder resolution applauded Exxon on Friday for being more transparent than in years past, there was still frustration that the company did not disclose how climate policies would affect its finances.

"That is the meat that we're missing in the sandwich here," said Tracey Rembert of Christian Brothers Investment Services, a co-sponsor of the climate-impact resolution.

A spokesman for New York State Comptroller Thomas DiNapoli, who oversees state pension funds and was a resolution sponsor, said via e-mail: "We are looking at Exxon's report closely and look forward to discussing it with the company in the coming days."

SECOND REPORT

Exxon on Friday also published its annual outlook for energy demand. In that report, the company does not take into account a scenario to limit temperature rise and projects energy supply and demand rising for the foreseeable future.

The report said global carbon dioxide emissions are likely to peak by 2040, at about 10 percent above 2016 levels, as consumption shifts to lower-emission natural gas, renewables and nuclear.

"It's a dual challenge – we need to meet society's growing need for energy while addressing the risks of climate change," Exxon Chief Executive Darren Woods said in a press release. - Reuters
Read more at https://www.thestar.com.my/business/business-news/2018/02/03/exxon-sees-global-oil-demand-plunging-by-2040-under-climate-regulations/#xueHPbpRziWSwF5I.99

I know this game, tessa's fav game, when boredom strikes

KTM Komuter schedule change to start tomorrow

KUALA LUMPUR (Feb 2): The Keretapi Tanah Melayu (KTM) commuter service, KTM Komuter, will operate according to a new schedule effective tomorrow, said its general manager, Khair Johari Ishak, today.

He said the change in the commuter service schedule was made in tandem with feedback obtained from consumers, as well as advice by the Land Public Transport Commission (SPAD).

The schedule change for the KTM Komuter is necessary to ensure a smoother service following the closure of one track between KL Sentral Station – Putra Station and Kuang Station – Sungai Buloh Station due to upgrading work of the Klang Valley Double Track (KVDT) project, which was scheduled for completion in November next year, he said in a statement today.

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He said KTM Bhd (KTMB) was committed to provide the best service for its customers.

The schedule change for the Port Klang – Tanjung Malim – Port Klang route involves frequency of the train, which will be every 30 minutes all day, from between 15 and 30 minutes during peak hour and 60 minutes during normal hour currently.

For the Pulau Sebang – Batu Caves – Pulau Sebang route, the direct service between the two destinations will be terminated from tomorrow, with the train from Pulau Sebang to end at the KL Sentral Station and then return to Pulau Sebang at a frequency of every 20 minutes during peak hour and between 30 and 90 minutes during normal hours, from tomorrow.

As for the train service from Batu Caves, it will end at Sentul Station and then return to Batu Caves, at a frequency of every 20 minutes during peak hour and 40 minutes during normal hour from tomorrow.

Feeder buses, with a frequency of 20 to 30 minutes, will be available for passengers intending to continue their journey to the Pulau Sebang or Batu Caves route from the Sentul Station or vice versa.

The change will also affect the direct train service to Pulau Sebang or Batu Caves for passengers taking the Komuter from the Kuala Lumpur, Bank Negara and Putra stations, as the service will be halted from tomorrow.

Commuters are advised to take the train from the Tanjung Malim route to the KL Sentral Station, or the Rapid KL train service (Sri Petaling route) as an alternative to their respective destinations, he said.

"KTMB highly appreciates and calls for understanding and support from loyal commuters of the KTM Komuter service during implementation of the KVDT project due to the inconvenience caused,” he added.

The public can refer or download the new schedule from the KTMB official website at www.ktmb.com.my or contact the KTMB Call Centre at 03-2267 1200 or twitter @ktm_berhad for further information.

THEEDGE

When a warrant is exercised, the stock that is purchased upon exercising the warrants needs to be issued new by the company. ... If you own common stock in a company that also has warrants outstanding, any exercise of the warrants will increase the number of outstanding shares thereby diluting the existing shareholders.

Warrants are sold by companies as a way to raise capital. Although a company could sell stock to raise money, the Securities and Exchange Commission regulates the number of shares a company is allowed to issue. Some companies will issue warrants as a way to sweeten a deal during a takeover or restructuring.

A stock warrant is just like a stock option because it gives you the right to purchase a company's stock at a specific price and at a specific date. However, a stock warrant differs from an option in two key ways: A stock warrant is issued by the company itself. New shares are issued by the company for the transaction.

u guys in? kenot la simply say cut cut run run

:)

China will import more palm oil and palm-based products from Malaysia: Chinese Ambassador to Malaysia Bai Tian.

Malaysia's palm oil exports to China

2017 .. 1.92 million tonnes

2016 .. 1.88 million tonnes

2015 .. 2.38 million tonnes

2014 .. 2.84 million tonnes

2013 .. 3.70 million tonnes

2012 .. 3.50 million tonnes

2011 .. 3.98 million tonnes

2010 .. 3.48 million tonnes

2009 .. 4.03 million tonnes

2008 .. 3.79 million tonnes

2007 .. 3.84 million tonnes

Source: Malaysian Palm Oil Board



PUTRAJAYA: China will be importing more palm oil and palm-based products from Malaysia and will not set limits on imports, says Chinese Ambassador to Malaysia Bai Tian.

He said there is good prospects for China in purchasing more agricultural commodities from Malaysia as bilateral relations are at its best.

"China's population of 1.3 billion people is the world’s biggest consumer market. Our government has set aside more than US$8 billion to import primary goods from producing countries.

"Bilateral trade between China and Malaysia is progressing and based on last year's trend we see higher demand for palm oil, rubber and other primary goods,” the ambassador said.

Bai further said China has no technical limit or glass ceiling on purchase of primary goods like palm oil from producing countries like Malaysia, adding that China

understands oil palm planters concerns in Malaysia.

"You can rely on us as a friendly party," Bai said.

China consumes 165 million tonnes of regular diesel per year. Local production of biodiesel is only 300,000 tonnes per year.



"Let’s say 5 per cent of my country's diesel consumption were to be from renewable sources, we would need to import more than 8 million tonnes of biodiesel per year,” he added.



Although Bai diplomatically made no reference or comparison to other nations, it was obvious his welcoming assurance of 'no technical limit' on palm oil purchase in China is starkly in contrast with the EU Parliament’s discriminatory stance to impose barriers to palm oil trade worth tens of billion dollars per year.



According to Malaysian Palm Oil Board data, palm oil shipment into China has been declining since 2009’s peak of four million tonnes.



However, last year, Malaysia's palm oil exporters saw a positive turn when volume improved by 2 per cent to 1.92 million tonnes.



Bai was speaking to reporters here today after a courtesy visit to Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong.



Within 100 days of taking office in Kuala Lumpur, Bai is fast gaining popularity in strengthening diplomatic and trade relations between China and Malaysia.



Prior to this post, Bai was a deputy director-general at the Asian Department of the Ministry of Foreign Affairs in China taking charge of Asean and Malaysia since 2013.



Mah concurred with Bai’s optimism of rising bilateral trade when he forecast China is likely to re-emerge as Malaysia’s biggest palm oil client by 2020.



"Last year, China emerged as Malaysia’s No.1 client when it bought more than RM8 billion in rubber products.

"I think, in two years, we can see China re-emerge as our biggest palm oil client, too," said Mah. - NST

Asian currencies still cheap in real terms, analysts say

SINGAPORE, Feb 2 ― Asian currencies are cheap in historical trade-weighted terms despite a steady rise to multi-year highs over the past year on broad US dollar weakness and strong flows into the region, analysts say.

Malaysia's ringgit, for instance, has appreciated more than 15 per cent against the dollar since the beginning of 2017, but in real effective exchange rate terms (REER), it is still 5 per cent below its 10-year average.

REER is calculated on a trade-weighted basis against a basket of currencies and adjusted for inflation.

The Japanese yen, Philippine peso and Indonesian rupiah are also trading below their 10-year averages.

The rise in regional currencies against their trading partners' currencies over the past year has been much lower than their gains on the dollar, keeping them attractive even now, analysts say.

The South Korean won and the Thai baht have gained more than 12 per cent each against the dollar since Jan 2017, but their REER rates rose just about 4 per cent in that period.

“If you look at real effective exchange rates, Asian currencies are not very over-valued,” said Chang Wei Liang, an FX strategist with Mizuho Bank.

“Asian currencies could still have scope to gain, given the very substantial current account surpluses in their economies.”

China's yuan and South Korean won's REER rates are the highest in the region, trading at 122.6 and 110.7 respectively, according to a JP Morgan REER index based at 100 in 2010.

Asian exports have largely managed to absorb the rise in regional currencies while benefiting from robust global demand and a recovery in commodity prices.

China's exports increased in 2017 for the first time in three years, while Japan's exports saw their biggest growth in seven years.

Despite the baht gaining about 10 per cent against the dollar, Thai exports grew 9.9 per cent last year, the biggest rise in six years.

“Generally exports react more to external demand conditions, rather than currencies,” said Mizuho's Chang.

“We don't see currency strength holding back exports in Asia, given that external demand is on an upswing at the moment.”

Regional trade momentum is set to continue this year with South Korea, for example, showing robust export growth in January driven by computer chips and petroleum products.

Nonetheless, the operating profits of Asian companies making much of their revenue from exports are expected to take a hit from the sharp rise in their domestic currencies. ― Reuters


Read more at http://www.themalaymailonline.com/money/article/asian-currencies-still-cheap-in-real-terms-analysts-say#z51SAWx3VGZWjtWe.99

Alex r u in? Just now u shout run LOL

if the new warrant 0.94 u better grab more before its too late

the earlier warrant exercise price was 0.50

perhaps RM strength?

will collect more :D

We refer to the Company’s announcements dated 8 December 2017 and 17 January 2018 in relation to the Proposed Free Warrants Issue (“Announcements”). Unless otherwise defined, the abbreviations and definitions used in the Announcements shall apply herein.

On behalf of the Company, RHB Investment Bank is pleased to announce that Bursa Securities had, vide its letter dated 30 January 2018, resolved to approve the following:

(i) admission to the Official List of Bursa Securities and the listing and quotation of up to 317,645,738* Warrants to be issued pursuant to the Proposed Free Warrants Issue; and

(ii) listing and quotation of up to 317,645,738* new ordinary shares to be issued pursuant to the exercise of Warrants.

Note:

* Based on the number of the latest issued ordinary share capital of the Company of 1,588,228,691 Shares following the completion of the Proposed Private Placement of Shares on 18 January 2018.

The approval by Bursa Securities is subject to the following conditions:

(i) Hibiscus Petroleum and RHB Investment Bank must fully comply with the relevant provisions under the Main Market Listing Requirements pertaining to the implementation of the Proposed Free Warrants Issue;

(ii) Hibiscus Petroleum and RHB Investment Bank to inform Bursa Securities upon the completion of the Proposed Free Warrants Issue;

(iii) Hibiscus Petroleum and RHB Investment Bank to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Free Warrants Issue is completed;

(iv) Hibiscus Petroleum to furnish Bursa Securities on a quarterly basis a summary of the total number of shares listed pursuant to the exercise of Warrants as at the end of each quarter together with a detailed computation of listing fees payable;

(v) Hibiscus Petroleum and RHB Investment Bank are required to make an immediate announcement on the effective date of the step-up exercise price upon the first (1st) and second (2nd) anniversary date of Warrants;

(vi) Hibiscus Petroleum is required to announce the total number of Warrants exercised as well as the breakdown on the utilisation of proceeds on a quarterly basis, in conjunction with the announcement of quarterly report; and

(vii) To incorporate the comments made by Bursa Securities in the circular to shareholders.

This announcement is dated 2 February 2018.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5681913

yay baby!

I believe raya can fly maybe not today :D

hmmm...now 0.43

if the warrant 0.94, if mother share 0.94, warrant enter the market, no jalan :D

IMAO Ken should be more tolerant Rex. After all that was an old investment gone bad, and now hibicus is doing well without Lime

their 1st warrant exercise price was 0.50

if the warrant exercise price 0.90, they need to push up the mother share

c'mon baby raya, gogogo

u run I'm staying LOL

IMAO this counter can go up free warrant, sabah deal

just don't get greedy