13 Jul 2015: Industry sources who have seen the report say it makes some serious allegations about the company’s financial health.

https://theedgemalaysia.com/article/airasia-fends-short-selling

22 Dec 2023: Capital A triggered Practice Note 17 (PN17) criteria in July 2020 after external auditors EY issued an unqualified audit opinion with material uncertainty regarding on-going concern.

https://theedgemalaysia.com/node/695050

note: both are old news but still relevant for investors who think they see the light. With NTA minus 2 MYR it is quite difficult to do right issue as SC will not allow a company to do right issue below par value (or something like that) unless they do something like capital reduction. Airline is a complicated business as they have high fixed costs and huge exposure to international oil prices. The last day to submit the PN17 restructure plan is June 30, 2024 and according to chart analysis it has entered structural bear market unless ringgit fiasco will end soon but quite unlikely as the politicians who know nothing about Economics 101 failed to understand what is USD carry trade and our interest rate cycle is lagged behind the curve. If ringgit keep falling down, BNM will have no choice but to raise the interest rate and that also will kill those company flooded with heavy debt and also the private homeowners loaded with heavy property loans.

Time Cycle Analysis: Capitala

Capital A, above 0.88 is bullish, below 0.88 is bearish. Key date to watch, total solar eclipse on April 8, 2024 will cross North America, passing over Mexico, the United States, and Canada.

https://www.tradingview.com/chart/CAPITALA/ePs1hSm4-Time-Cycle-Analysis-CapitlaA/

Those who bet on Affin are banking on the mega projects in Sarawak (which is also trying to invite the Harvard of China not sure is Tsinghua University or Fudan University to open up a branch in Sarawak). Those with basic economic knowledge will know that weakening ringgit is a dangerous sign for economic crisis as the main problem is the US carry trade and local interest rate has lagged behind the curve which caused the hot money reverted back to US shore. Instead of collecting data for PADU, the minister of economy should collect data to determine which companies are exposed to high debts and whether or not these companies will cause systematic risks to our banking system. It seemed that our minister of economy was not trained in Economics 101 as he kind of saying that falling ringgit is good for the economy as it will attract more foreign investors to invest in Malaysia but this argument made no sense at all as foreign investors will not come to Malaysia for cheap ringgit (the yield of ringgit is too low) as foreign investors only interested to know whether our high school students are well educated and our labor are competitive enough to produce good quality products for them to sell at international marketplace but first of all we need to well verse in international language or else how can we write Python programming to control an automated machines invented by these foreign investors. Why is falling ringgit bad for local company? AirAsia's cost structure was 40% jet fuel and jet fuel is traded in USD but AirAsia's air tickets are priced in ringgit so last time they can collect RM3.8 to pay for USD1 of jet fuel and now they have to collect RM4.8 to pay for USD1 of jet fuel and that will reduce their capacity to serve their loans so the minister of economy must collect data and do simulation to see the falling effect of ringgit to the household sectors as they are highly exposed to loans and may cause systematic risk to banking sectors just like last time 97 Asian Crisis was caused by the nonperforming corporate loans.

United States elections, Tuesday, 5 November 2024

What Is the Presidential Election Cycle Theory? The theory suggests that markets perform best in the second half of a presidential term when the sitting president tries to boost the economy to get re-elected.

https://www.investopedia.com/terms/p/presidentialelectioncycle.asp


ERDOGAN’S ECONOMIC POLICIES
Turkey has been plagued by a currency crisis and skyrocketing inflation since 2021, which economists say are the result of Erdogan’s unorthodox belief that raising interest rates will increase inflation. Simsek said Turkey had no other option but to return to “rational ground.” In a sign that Erdogan’s new administration might pursue more conventional economic policies, Simsek also said there were no “shortcuts or quick fixes” but vowed to oversee Turkey’s finances with “transparency, consistency, accountability and predictability.”

https://apnews.com/article/why-is-turkeys-currency-falling-erdogan-1faf7d58144fc84479c251c3fdeabe2a

ERDOGAN’S ECONOMIC POLICIES
Turkey has been plagued by a currency crisis and skyrocketing inflation since 2021, which economists say are the result of Erdogan’s unorthodox belief that raising interest rates will increase inflation.

Simsek said Turkey had no other option but to return to “rational ground.” In a sign that Erdogan’s new administration might pursue more conventional economic policies, Simsek also said there were no “shortcuts or quick fixes” but vowed to oversee Turkey’s finances with “transparency, consistency, accountability and predictability.”

https://apnews.com/article/why-is-turkeys-currency-falling-erdogan-1faf7d58144fc84479c251c3fdeabe2a

United States elections, Tuesday, 5 November 2024

What Is the Presidential Election Cycle Theory? The theory suggests that markets perform best in the second half of a presidential term when the sitting president tries to boost the economy to get re-elected.

https://www.investopedia.com/terms/p/presidentialelectioncycle.asp

Wednesday, September 25th, 2019

Kenanga: Tough operating environment for AirAsia: jet fuel costs accounted for 40% of the total group cost...

https://themalaysianreserve.com/2019/09/25/kenanga-tough-operating-environment-for-airasia-over-medium-term/

note: this is old news but still relevant as AA's fuel costs are priced in USD and air tickets are priced in MYR. It is a simple math logic. Last time they collected RM3.8 to pay for USD1 fuel costs and now they have to collect RM4.8 to pay for USD1 of fuel costs. Our minister of economy has underestimated the devastating impact of weakening ringgit as our household debt has reached the alarming level.

Big data firms need to use a lot of cold water to cool down their servers and due to the pressure from environmental group those big data firms have no choice but to avoid dirty energy and use clean energy. So for that matters, most of the high tech firms will eventually relocate to Sarawak as Sarawak have the longest Kajang River with plenty of fresh water and Sarawak is also a top player in RE. As far as the problem of skilled engineers is concerned, due to the Sarawak's natural beauty (to attract international top notch digital nomads) and their world's class education system with the ability to speak international languages fluently this well protected region will become the next economic superpower.

Fast forward to year 2030, due to political issue, most high tech companies in Kulim High Tech Park faced no choice but to relocate to Bintulu to take advantages of Bintulu's port facility and clean energy such as hydrogen. Due to constant water issue, most high tech companies in Penang also pulling out and move their operation next to WD's mega factory in Sarawak. Due to energy crisis in Sabah because Sabah Energy SB is buying 0.4 from KL's IPP and selling 0.3 to Sabah's consumer so those small factories in Sabah also faced no choice but relocate to Sarawak and Abang Jo said in order to create a self-contained economy to decouple from West Malaysia's collapsing economy all companies doing business in Sarawak is "encouraged" to use only the banking services provided by Sarawak bank. Also in year 2030, the price of oil is as low as can water as no one will use dirty fuel anymore 😁

Or another word Redtone is more likely a hostile takeover target and maybe related to internet banking...

Just a wile guess. Maybe due to Affin's low rating on ESG as EPF is one of the top 20 largesnt pension funds in the world so when they have to benchmark each other how they are ranked in ESG.

Top 20 largest pension funds in the world:

https://i.postimg.cc/Bb5HSj8p/top-pension-fund.jpg

https://www.sinchew.com.my/news/20240223/yl/5411308

泰益功过历史自有定谳
在维持砂拉越现有的和谐与多元基础上，泰益的贡献不可抹杀，而砂拉越在联邦政治版图中所拥有的政治地位，尽管是已故首长阿德南沙登的政治遗产，但这也是泰益的保护主义所奠基而来的。

Redtone (around PE20x) on its own will not be able to survive so eventually they will either merge with CelcomDigi (around PE40x) or takeover by TM (around PE15x) so looks for foreign partner with cutting edge technology such as SingTel (around PE13x) so those who bet on Redtone can forget about their annual report but look closely on the development of big telco how they will eat out niche telco like Redtone and how big Telco consortium like Axiata+RHB ventured into Internet Banking 😁

Yes, confirmed beluga is a full time US fund manager. Small traders like us don't have this kind of financial knowledge to understand why Abang Jo has underpaid Affin. I am totally surprised Quek Leng Chan failed to put up a good show as this kind of half-baked takeover deal is his expertise to squeeze his opponent so in a way he thinks to have a business partner like Abang Jo will add lubricant to his HL group because down the road Sarawak will be flooded with mega projects. PMX dare not to mess with Abang Jo, DAP has to fly to Sarawak and said sorry to them and even with an ACE card on hand, QLC also keep quiet and let Abang Jo show hand as if he is holding the best card on the table 😁

The business model of AA is proven so why should we kill the golden goose and opt for the high speed black swan which made no sense at all as far as game theory is concerned.

The minister who always talk about BMW really made Malaysia an an international laughing matter. Who in the world will make their dark history linked to "war camp" a UNESCO World Heritage? Heritage sites are something that give our nation an unique identity and something that we all should be proud of.

The reason Hiroshima is declared UNESCO sites is because Japan is trying to make US and the whole world look really bad (so something like that) for political reason as if the whole world owed them.

In absolute figure GDP Indonesia is not a small country but an economic giant. Malaysia government is loaded with heavy debt and the minister of economy still cannot find a sensible solution to normalize the petrol subsidy (RM50b).

As a minister of economy it is his duty to collect big data to predict the direction of oil price, gold price, USD/Yen, US interest rate and so on but somehow he spends so much time to reinvent the wheel and collect PADU statistic (which is already captured in DOS or MOF's database) to see how to allocate the petrol subsidy which is more of welfare matter rather than an economic issues.

As a minister of economy, he should release a public statement and inform public what is the economic impact of weakening ringgit so the business sectors can plan ahead and see how to hedge their foreign currency contracts. This is what I call a minister of economy.

Come back to the HSR issue. Most people from Singapore will take it to eat BKT in Klang and most people from KL will take it to eat Hainan Chicken Rice in Singapore as most business transactions are done thru internet so do we need HSR for that matter?

Economically there is no reason for Malaysia to build high speed train as we are not yet a high income country. Totally agreed with both Tony (Tony Fernandes and Tony Pua) flying with AA is better option as everyone can fly. If the government go ahead with the high speed train it will kill two birds with one stone as both AA and HSR will be competing with each other and both will fail to achieve the economies of scales. It is sad that DAP is trying to sideline Tony Pua and Kian Ming as both really talking with logical sense.

See Indonesia's GDP and it will shock you :)

https://i.postimg.cc/VkYFp7vx/Indonesia-GDP.jpg

Abang Jo is a humble person and always walk his talk but in corporate takeover deal this will back fire as you never tip off the wolf of wall street to plan ahead so both sides are trying to buildup war chest and what we see here is only the smoke and yet to see the real fire. So those who are late to the party the night is still young.

Quek Leng Chan is holding the ace card via BEA and the wind is so cold that he is really quiet about this deal and GO is out of the equation as BNM will not approve the talk if the deal involved privatization (just my wild guess) as BNM is trying to institutionalize our banking landscape to avoid the soup opera drama likes Silicon Valley Bank.

Knowing QLC's style on hostile takeover, he will squeeze the last drop of juice out of his opponent's pocket in order to cease fire and call it a day or meaning to say "2011 EON Capital Berhad Hong Leong Bank Berhad 1.42"

祸兮福所倚，福兮祸所伏。I think not many people in Sarawak especially Chinese communities like baimao beside few super rich billionaires timber tycoons as baimao was Sarawak King in olden time and treated Sarawak as his private kingdom. Due to his selfishness which disallowed no one to touch his private kingdom including those corrupted leaders from West Malaysia so until now Sarawak remains a well protected area and on the way to become the economic powerhouse in Malaysia.

Economically there is no reason for Malaysia to build high speed train as we are not yet a high income country. Totally agreed with both Tony (Tony Fernandes and Tony Pua) flying with AA is better option as everyone can fly. If the government go ahead with the high speed train it will kill two birds with one stone as both AA and HSR will be competing with each other and both will fail to achieve the economies of scales. It is sad that DAP is trying to sideline Tony Pua and Kian Ming as both really talking with logical sense.

Dialog, above 2.85 is bullish, below 2.85 is bearish. Key date is 24 Mar 2025

https://www.tradingview.com/chart/DIALOG/IaE6FIqO-Time-Cycle-Analysis-Dialog/

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

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

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

Redtone double bottom pattern with neckline at 0.90 indicates bullish formation.

https://i.postimg.cc/8PJZBFLN/redtone.jpg

PE analysis: Tesla 46x, CelcomDigi 45x, Astro 43x, Redtone PE 16.7x

Teacher in rural Sarawak purchases own Starlink kit to give students internet access

It is understood that the teacher acquired the Starlink kit in the hope of enhancing his students’ learning experience.

In many remote and rural areas across Sarawak, reliable Internet access is hard to come by.

In another Tik Tok video, the teacher said he purchased the Starlink kit without help from others.

“We bought it ourselves. Even so, the credit should go to the officials that brought Starlink into Malaysia. This device can help enhance our Internet access,” said the teacher.

Last month, Minister of Utility and Telecommunication Datuk Julaihi Narawi said the Sarawak government will evaluate the coverage and commercial aspects of Starlink’s satellite broadband service for possible use in the state.

https://www.theborneopost.com/2023/08/17/teacher-in-rural-sarawak-purchases-own-starlink-kit-to-give-students-internet-access/

The Role of Starlink in the Future of Autonomous Vehicles

Starlink aims to provide global broadband coverage by deploying thousands of small satellites into low Earth orbit. With its ambitious goal of creating a constellation of nearly 12,000 satellites, Starlink has the potential to offer high-speed internet access to even the most remote corners of the world. This could be a game-changer for autonomous vehicles, as they heavily rely on a constant and robust internet connection to function effectively.

One of the main advantages of Starlink for autonomous vehicles is its low latency. Latency refers to the time it takes for data to travel from the vehicle to the server and back. With traditional internet connections, latency can be a significant issue, causing delays in data transmission and potentially compromising the safety of autonomous vehicles.

https://ts2.com.pl/en/the-role-of-starlink-in-the-future-of-autonomous-vehicles/

REDtone, SpaceX ink deal to offer Starlink satellite broadband services across Malaysia

REDtone chief executive officer Lau Bik Soon said the company’s strength as a network integrator will enable them to offer seamless satellite-based services to government and enterprise customers.

“We are targeting sectors which are showing an increasing reliance on satellite services such as oil and gas, telecommunications, shipping and maritime, financial services and plantations.

According to the statement, the satellite market is estimated to be worth RM19.7 billion by 2025, growing at a compound annual growth rate of 10.9 per cent.

It also said there are currently 5,000 Starlink satellites in orbit and the company has started launching the Gen 2 satellites which enables them to provide digital support to every corner, connecting the unconnected and bridging the digital divide in the country.

As of September 2023, Starlink has connected more than two million active customers in over 60 countries.

https://www.malaymail.com/news/money/2023/11/27/redtone-spacex-ink-deal-to-offer-starlink-satellite-broadband-services-across-malaysia/104508

Redtone, above 1.05 is bullish, below 1.05 is bearish. Key dates to watch are 22 Feb 2024 and 19 Mar 2024.

https://www.tradingview.com/chart/REDTONE/BjwvGTkz-Time-Cycle-Analysis-Redtone/

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.

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.

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

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 😁

Time Cycle Analysis: UEMS 恭喜发财。

UEMS above 0.89 is bullish; below 0.89 is bearish. Key date to watch 21 Feb 2024.
https://www.tradingview.com/chart/UEMS/maKcY7Nj-Time-Cycle-Analysis-UEMS/

Tesla, Nvidia, YTL Power momentum indicators：
https://www.tradingview.com/chart/YTLPOWR/PA0VIlwu-YTL-Power-Nvidia-Tesla-momentum-indicators/

For investment or trading ideas, please feel free to visit my chart gallery:
https://www.tradingview.com/u/Yang358/#published-charts

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

The path of tech stocks are related to the movement of Venue.

"Venus revolves or orbits around the Sun once every 0.615 Earth years, or once every 224.7 Earth days. Venus travels at an average speed of 78,341 miles per hour or 126,077 kilometers per hour in its orbit around the Sun." (source: Caltech)

The Monday, April 8, 2024, total solar eclipse will cross North America, passing over Mexico, the United States, and Canada. The total solar eclipse will begin over the South Pacific Ocean.

Chinese Myth of Solar Eclipses: In some ancient Chinese myths, a total solar eclipse was seen as a negative omen, potentially bringing misfortune.

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 😁

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

Tesla, Nvidia, YTL Power momentum indicators.

https://www.tradingview.com/chart/YTLPOWR/PA0VIlwu-YTL-Power-Nvidia-Tesla-momentum-indicators/

For investment or trading ideas, please feel free to visit my chart gallery:
https://www.tradingview.com/u/Yang358/#published-charts

Try to google "quek leng chan hostile takeover" today MY ARTICLE or WRITEUP will come out in the top search with a summary saying "Quek Leng Chan was trying to launch a hostile takeover of Bank of East Asia and it cannot be a coincidence that BEA is holding a big block of shares in Affin ..." Hopefully Tan Sri will google today and somehow see my message to consider to launch a hostile takeover. 😁

https://i.postimg.cc/Ss6Z92SC/Quek-Leng-Chan.jpg

note: you have to zoom in the photo to see a clearly picture

Why the outgoing CEO tipoff the market the takeover price by Abang Jo is 2.4 so is he happy or not happy with the 2.4 takeover price? The answer is clear so unless the shares is officially transferred to the CDS account of Sarawak government or else it is more likely that the CEO is trying to heat up the price war and extract the best value for the public member of LTAT. It highly out of the norm that a resignation letter will include sensitive info such as the takeover price of 2.4 sighted by The Edge so for those who is late to the party the night is still young😁

I pray the king of M&A Quek Leng Chan don't disappoint me...I would be shocked if Quek Leng Chan, Chua Ma Yu, Tong Kooi Ong or even Peter Lim don't interested in Affin Bank as 2.4 is unbelievable 😁

Abang Jo will not spend billion without taking control of the bank or else the money will be as good as throw the money to Kajang River which is the longest river in Malaysia. Abang Jo will provide the floor support at 2.4 and this strong support level at 2.4 is highly visible on technical chart but the price action is telling more story either Sarawakian billionaires are collecting the share to beef up their control on this banking group or some other professional corporate raiders linked to top bankers such as Quek Leng Chan, Chua Ma Yu, Tong Kooi Ong also interested in this banking group so those who are late to the party it looks like the night is still young 😁

UEMS above 0.89 is bullish, below 0.89 is bearish. Key date to watch is around 19 Feb 2024. The projected trajectory is heading north unless the key support of 0.89 is broken.

https://www.tradingview.com/chart/UEMS/dm2UaQjQ-Time-Cycle-Analysis/

Investors should exercise caution and remain vigilant against the potential bear trap. From a technical standpoint, the Kuala Lumpur Composite Index (KLCI) above 1552 is bullish and below 1552 is bearish.

https://www.tradingview.com/chart/FBMKLCI/gGMqXJe6-Time-Cycle-Analysis/

KLCI has been entrenched in a structural bear market since 2014 (1896.23), primarily triggered by the collapse of the oil bubble (US$ 145 in 2008) and the collapse of the palm oil bubble (MYR 8000 in 2022). For investment or trading ideas, please feel free to visit my chart gallery:

https://www.tradingview.com/u/Yang358/#published-charts

Unless PMX intervened in the free market, the takeover deal should be priced within this range 2011 EON Capital Berhad Hong Leong Bank Berhad 1.42 and 2008 EON Capital Berhad Primus Pacific Partners 2.21 because when come to hostile takeover game, no one can match Quek Leng Chan and I will be shocked if the king of M&A not interested in Affin Bank as 2.4 is a considered buy one free one as AffinHwang Investment Bank is a top brokerage in town which will give HL brokerage an immediate boost and totally in control of the brokerage landscape😁

Abang Jo will provide the floor support at 2.4 and this strong support level at 2.4 is highly visible on technical chart but the price action is telling more story either Sarawakian billionaires are collecting the share to beef up their control on this banking group or some other professional corporate raiders linked to top bankers such as Quek Leng Chan, Chua Ma Yu, Tong Kooi Ong also interested in this banking group so those who are late to the party it looks like the night is still young 😁

Tip No 1, why the outgoing CEO tipoff the market the takeover price by Abang Jo is 2.4 so is he happy or not happy with the 2.4 takeover price?

Tip No 2, the outgoing CEO is a professional fund manager and his mission is to dispose the controlling steak for the public members of LTAT as high as possible so the tipoff will or will not attract the attention of top corporate raiders such as Quek Leng Chan, Chua Ma Yu, Tong Kooi Ong, Peter Lim Eng Hock as the 2.4 is unbelievable? 😁

Tip No 3, Quek Leng Chan is aspired to become No.1 banker in South East Asia so 2.4 for him you think is expensive or a rock bottom price?

As of 2024-02-05, the Fair Value of Affin Bank Bhd (AFFIN.KL) is 4.04 MYR. This value is based on the Peter Lynch's Fair Value formula. With the current market price of 2.62 MYR, the upside of Affin Bank Bhd is 54.2%.
https://valueinvesting.io/AFFIN.KL/valuation/fair-value

LTAT already made it clear publicly they no longer interested on the banking business so if LTAT not in management control of the banking group and Abang Jo not in control of the banking group who else is in control of the banking group is totally an academic questions.

Abang Jo is paying billion rigging for the controling steak so it will be a joke if he cannot get board control or management control of the banking group might as well throw the money to Kajang River which is the longest river in Malaysia. Abang Jo will not take Affin Bank private but if HL joining the game they will take the bank private as 2.4 is just unbelievable 😁

It is such a surprise that EON Bank and Affin Bank shared a lot of similarities such as low ROE, car loans, no overlapping of branch locations and so on. If history is any guide, as long as some controlling block of a banking shares is available for grab whether it is in Hong Kong or Malaysia, those high end corporate raiders will join the party. If Quek Leng Chan was interested in EON Bank, there is no reason why he is not interested in Affin Bank. Tong Kooi Ong used to own a boutique bank so there is no reason he is not interested in Affin Bank. Last year Abang Jo was trying to bid for the licence of Digital Banking so at 2.4 he will be laughing all the way to the bank. EPF kept selling the shares but the share price kept going up so unlikely it was retailers in the market supporting the share price. Quek Leng Chan was trying to launch a hostile takeover of Bank of East Asia and it cannot be a coincidence that BEA is holding a big block of shares in Affin Bank. When we put all these small pieces of the puzzle, a big picture will emerge. So let's pray Tan Sri Quek Leng Chan is on the prowl again. Quek, founder of the Hong Leong Group of companies, will be stalking another prey — Affin Bank.

The Edge should run a story and interview MSWG whether 2.4 is a fair deal as far as LTAT members and minority shareholders are concerned. If Abang Jo seals the deal at 2.4 the whole market will be shocked as 2.4 is just unbelievable 😁