Eye on stock: Rubberex Corp

RUBBEREX Corp (M) Bhd shares rallied from a low of 56 sen on Dec 16 last year, the worst level in three years to a 15½-month high of 77.5 sen on April 13 before the bulls take a breather.

In the wake of an apparent profit-taking, prices retreated slightly back to the 68.5 sen on April 28 on correction, followed by a brief band trading on consolidation before bouncing off on renewed bargain hunting interest.

This stock bounced to a one-month high of 74.5 sen during intra-day session but finished up two sen at 73 sen, as a frail principal market trend somewhat undermined investors’ enthusiasm.

Based on the daily chart, Ruberex appeared to be making a fresh attempt to resume the scaling after the recent correction process.

A breach of the immediate hurdle of 76 sen, followed by a decisive breakout of the 77.5-sen barrier would give investors the confirmation.

If that happens, the next upside objective would be to challenge the pretty stiff resistance of 94 sen or to test the upper heavy barrier of RM1.05 in the near term.

Elsewhere, the oscillator per cent K and the oscillator per cent D of the daily-slow-stochastic momentum index were firming. It had issued a short-term buy at the neutral area on Thursday.

Also looking good, the daily moving average convergence/divergence histogram resumed the upward expansion against the daily trigger line to keep the bullish note. It had call for a buy on May 21.

In addition, the 14-day relative strength index spiked to a high of 62, up from the 445-point level on Monday.

On the back of improving technical indicators, Ruberex shares are poised to advance in the short term.

To the downside, trailing stop-loss exit is pegged at the 68.5-sen floor.

http://www.thestar.com.my/Business/Business-News/2015/05/30/Eye-on-stock-Rubberex-Corp/?style=biz

Stock To Watch
SKPRes @ 1.01 - Consistent Revenue & Profit Growth

SKP's 4Q net profit up 37% on strong demand

SKP Resources Bhd, saw its net profit for the fourth quarter ended Mar 31, 2015 (4QFY15) rise 37% to RM11.31 million, from RM8.25 million a year ago, driven by strong demand in its plastic injection moulding segment.

Earnings per share improved to 1.26 sen, from 0.92 sen previously.

Group revenue was up by more than half (58%) to RM194.39 million, from RM123.29 million in 4QFY14, its filing to Bursa Malaysia today showed.

SKP Resources (fundamental: 2.1; valuation: 1.1) said the improved revenue was contributed by strong demand in its plastic injection moulding segment, as well as for value added services such as the assembly of plastic products and components for the electrical and electronics industry.

The improved quarterly earnings pulled up the company’s net profit for the cumulative 12 months (FY15) by 43% to RM42.02 million, from RM29.32 million in FY14; while revenue was up 49% at RM616.55 million, from RM412.77 million.

SKP Resources said it had marked another milestone recently, after securing a five-year RM400 million contract from its existing key customer, Dyson Ltd.

“On the back of this contract from Dyson, as well as strong order book from other existing customers, the board of directors expects [that] the group’s momentum of growth will continue, as it moves into an invigorating FY16,” it said.

SKP Resources’s counter fell two sen or 1.94% to RM1.01 today, for a market capitalisation of RM1.09 billion.
http://www.theedgemarkets.com/my/article/skps-4q-net-profit-37-strong-demand
http://www.malaysiastock.biz/Corporate-Infomation.aspx?type=A&value=S&source=M&securityCode=7155

Privasia sets up satellite hub in Cyberjaya

PETALING JAYA: Petaling Jaya: Privasia Technology Bhd, a leading player in information communication technology (ICT) outsourcing and consulting in Malaysia, is setting up a dedicated satellite hub in Cyberjaya to target more clients from the oil and gas sector.

Privasia's wholly-owned subsidiary, IPSAT Sdn Bhd (IPSAT), intends to invest RM3 million to set up the satellite hub, supported by Hughes Network Services, LLC, a global leader in broadband satellite services and solutions.

"We have been providing satellite-based services to a number of clients since end-2009, with the acquisition of IPSAT. This new in-house satellite hub, slated for completion in mid-2015 allows the group to extend our range of services to our existing and future customers, particularly in the oil and gas sector, as well as maritime, tourism and hospitality, and security sectors," Privasia CEO Puvanesan Subenthiran said in a statement yesterday.

He added that the new satellite hub gives Privasia the opportunity to pursue regional potential in South East Asia as well.

Meanwhile, the group intends to make positive headway into the domestic telecommunications sector, by providing engineering services to mobile operators.

"With these growth drivers, we are optimistic of our prospects in the current financial year," Puvanesan said.

For the first quarter ended March 31 2015 (1Q15), Privasia's net profit decreased to RM1.3 million from RM1.4 million previously, while revenue leaped 54.9% to RM21.3 million from RM13.7 million previously.

The group's outsourcing and consulting orderbook currently stands at RM141 million, which will last it till 2020.
http://www.thesundaily.my/news/1434751

Short term bearish due to 1) Conversion of warrants
2) ESOS
3) Private Placement

Eco World optimistic about meeting RM3b FY15 sales target, RM4b in FY16

KUALA LUMPUR (May 28): Eco World Development Group Bhd ( Financial Dashboard) is still confident in achieving its sales target of RM3 billion for its financial year ending October 31, 2015 (FY15), and its target of RM4 billion in FY16.

Chief executive officer Datuk Chang Khim Wah said Eco World’s (fundamental: 0.5; valuation: 0) sales will be driven by launches of new and ongoing projects, as its developments are focused in areas with existing catchment.

“We have given the sales target of RM3 billion, and we are very optimistic [about meeting] that, it’s not an issue. And next year we have a target of RM4 billion.

“We were lucky to have bought our land banks two years ago. When we bought the land banks, they were all located very close to highways and trunk roads. Each and every project already has catchment nearby,” said Chang.

He highlighted that Eco World’s Eco Sky project at Jalan Ipoh, Kuala Lumpur, for example, is in the vicinity of a KTM station and a Tesco supermarket, while its Eco Sanctuary project will benefit from nearby catchment areas such as Kota Kemuning, Subang Jaya and Puchong.

“Every development that we have picked has all these characteristics, and we are not in any greenfield projects,” said Chang.

Chang was speaking to the media today following the opening of Eco World’s third sales gallery in the Klang Valley, for its 308.7-acre Eco Sanctuary development in Canal City, located south of Kota Kemuning.

Eco Sanctuary has a total gross development value (GDV) of RM8 billion, with Phase 1 of the development, comprising the Monterey and Terraza residential sections of the project, accounting for RM1 billion out of the total GDV.

The project is slated for launching next month, with Phase 1 to be completed around the first quarter of 2018.

At 12.30pm, Eco World fell 1 sen or 0.62% to RM1.60, bringing its market capitalisation to RM3.81 billion.
http://www.theedgemarkets.com/my/article/eco-world-optimistic-about-meeting-rm3b-fy15-sales-target-rm4b-fy16

China April industrial profits reverse 6-month falling trend

SHANGHAI (May 27): Chinese industrial sector profits posted their first annual rise since last September, National Bureau of Statistics data showed on Wednesday, in a sign margin pressure on firms may be easing and government stimulus may be filtering into the real economy.

Industrial sector profits in April rose 2.6 percent from a year earlier, but were down 1.3 percent for the year to date, reflecting the extreme weakness of growth in the first quarter.

The statistics bureau said after the data that recent interest rate and fee cuts were boosting industrial profits, but that companies still faced weak demand and falling prices.

Analysts highlighted the recent bounce in oil prices, with the international benchmark Brent crude up close to $15 February to April, as one factor helping profits bounce back.

"The super simplistic model of Chinese corporate profits is that margin contraction or expansion aligns most closely with commodity prices, while volumes are driven more by construction activity," said Thomas Gatley, China Corporate Analyst at the economics consultancy Gavekal Dragonomics in Bejing.

"Currently we're seeing some margin pick-up coming from the bounce back in oil prices, but the underlying worry on volumes is that growth continues to grind lower and lower."

With China's credit and money supply data in April missing expectations on the one hand, and some signs of a bottom in the real estate sector on the other, analysts have been watching closely for any signs of a turnaround in the industrial sector.

http://www.theedgemarkets.com/my/article/china-april-industrial-profits-reverse-6-month-falling-trend

Moody’s: 1MDB financial woes not sign of broad-based distress among GLCs

KUALA LUMPUR: Moody’s Investors Services says the financial troubles surrounding 1Malaysia Development Bhd (1MDB, unrated) are not a sign of broad-based distress among government-linked companies (GLCs).

It said on Wednesday that aside from 1MDB, a state-owned strategic development company, the GLCs companies have continued to service their outstanding debt.

The international ratings agency said the GLCs had been able to do so due to their solid track record of corporate governance and profitability, and no guarantees have yet to crystallise on the government's balance sheet.

http://www.thestar.com.my/Business/Business-News/2015/05/27/Moodys-1MDB-financial-woes-not-sign-of-broad-based-distress-among-GLCs/?style=biz

Technology for a Saudi fracking boom moves closer to reality

The key to an energy boom is simple: Build a technology to get at the oil and gas that geologists already know is trapped in various subterranean, or subsea, formations.

The fracking boom in the U.S. is the obvious example. Extracting seabed methane hydrate is another huge bet—energy-starved Japan has made that.

Saudi Arabia could be next to use new technology to get at currently trapped gigantic reserves of oil and gas. A small pilot project about to get under way is the energy market equivalent of a moonshot, but it could allow a Saudi fracking boom to move one step closer to reality.

All over the world, there are naturally fractured oil and gas reservoirs called carbonite formations, and no region has as much oil and gas trapped in carbonate formations as the Middle East. Carbonates are areas of sedimentary rock—limestone, for instance—that contain many natural cracks inside them.

Carbonite formations are estimated to hold 60 percent of the world's oil and 40 percent of the world's gas reserves. In the Middle East, roughly 70 percent of oil and 90 percent of gas reserves are trapped in the carbonite, according to oil services giant Schlumberger.

In hydraulic fracturing, water and other chemicals are injected underground through a well bore to extract oil and gas. The norm today is to use hydraulic pressure on a huge volume of undirected fluid, mostly water, to actually crack open the earth.

Extracting oil and gas trapped in carbonate formations has been done through a process known as acidization. Water mixed with hydrochloric acid (it's about an 85 percent water solution) is pumped into a well bore and then branches out into the carbonate formation and etches patterns in the rock formation—think of an image of roots underneath a tree.

But the conventional approach has some big problems. The acid may not make contact with areas of the rock formation that need to be dissolved in order to access trapped oil and gas. In other cases, the acid might just wash along the inside of the well bore and not make it out into the rock formation itself.

http://www.cnbc.com/id/102691084

Stock To Watch

Opensys @ 0.335

Commendable Quarter Result

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4751109

Just to refresh.

Posted by rikki > Apr 27, 2015 07:24 PM | Report Abuse X

Borneo Oil to raise at least RM223.39m to expand gold mining ops 

Sabah-based fast food operator and energy outfit Borneo Oil Bhd ( Financial Dashboard) has proposed a 1-for-6 renounceable rights issue of up to 2.374 billion shares at an indicative issue price of 10 sen per share, together with 1-for-2 free detachable warrants (warrants C) of up to 1.187 billion warrants, at an entitlement date to be determined later. 

In a filing with Bursa Malaysia this evening, Borneo oil said it intend to raise a minimum gross proceeds of RM223.39 million, the bulk of which will be channeled into the exploration of gold and limestone mining activities, working capital for fast food operations, future investments and repayment of bank borrowings. 

Borneo Oil is the exclusive sub-contractor for the exploration and mining of alluvial and lode gold in three districts in Pahang — Mukim Batu Yon, Lipis; Hutan Simpan Hulu Jelai, Lipis; and Hutan Simpan Bukit Ibam, Rompin — covering a total of 1,565.1ha. 

The group also operates a 389.743-acre limestone mining operation in Ulu Segama, Lahad Datu, Sabah. 

“In the longer term, the company harbours ambitions to become a major player in the gold mining industry domestically and regionally, with the ultimate objective of constantly expanding and strengthening its business base in order to always maximise returns for loyal shareholders. 

“The board of directors is confident that, with the addition of the gold mining business starting to come to fruition, these positive developments augur well for the financial performance of Borneo Oil in both the foreseeable and long-term future,” Borneo Oil said in a media statement, adding that it expects to complete the transaction by the third quarter of this year (3Q15). 

The issuance of the rights issue and free warrants is expected to enlarge Borneo Oil’s issued and paid-up capital to 3.956 billion shares from 372.319 million shares currently. 

The indicative issue price of 10 sen per rights share represents a discount of approximately 41.11% to its theoretical ex-price of 16.98 sen per share, which was based on the five-day weighted average market price of 79.8 sen that was calculated up to April 21, 2015. 

http://www.theedgemarkets.com/my/article/borneo-oil-raise-least-rm22339m-expand-gold-mining-ops

Bornoil - Production Sharing Contract

To share net profit after tax (“NPAT”) generated from the Mining Project, 60% BOG and 40% HDL. NPAT is calculated as follows:- Sales revenue of the gold less all project and operational costs including recoverable costs (First Advance, 50% of the Second Advance and Subsequent Advances), tributes and all taxes, duties and levies payable or accrued to any authority whether Federal, State or otherwise.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1088153

Bornoil share of Gross Profit Before Tax for the month of April 2015, 6,149.69 oz X USD1,182.40 X 3.6 X 60 % = RM15,706,209.87

Note :
1) Assuming all 3 gold mining production sharing contract are the same coz the details of first 2 contracts has not been disclosed.
2) Excluding production of Gold Dore : 34.695 oz where about 80 % will be turned into Pure Gold after processing ( 34.695 oz x 80% X USD1,182.40 x 3.6 X 60 % = RM70,888.38 )
3) Excluding production of Ores mined : 9,639 tonnes

Bornoil - Production Sharing Contract

To share net profit after tax (“NPAT”) generated from the Mining Project, 60% BOG and 40% HDL. NPAT is calculated as follows:- Sales revenue of the gold less all project and operational costs including recoverable costs (First Advance, 50% of the Second Advance and Subsequent Advances), tributes and all taxes, duties and levies payable or accrued to any authority whether Federal, State or otherwise.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1088153

Bornoil share of Net Profit After Tax (NPAT) for their latest gold mining contract is 60%. Soon there will be mad rush for Bornoil shares.

Bornoil - Digging for Gold

Subject MONTHLY PRODUCTION FIGURES (MINING / PLANTATION / TIMBER) 
Description CHAPTER 9.36 , PART M 
MONTHLY PRODUCTION FIGURES FOR THE MONTH OF APRIL 2015. 
1. Inventory (LDMA Gold 999.9) : 6,149.69 oz / 191.28 Kg (32.1507 oz per kg) 

2. Ores mined : 9,639 tonnes 

3. Production of Gold Dore : 34.695 oz 

4. Gold price (USD/oz) : Low USD1,182.40 to High USD1,214.00 (month of April 2015)

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4749225

Grand-Flo sees better FY15 on higher contributions from property, tracking solutions segments

Tracking solutions provider and property developer Grand-Flo Bhd is expecting to see a better overall performance for its financial year ending Dec 31, 2015 (FY15) on higher revenue contribution from its property segment and its product tracking solutions, with the latter seeing better sales due to the implementation of the goods and services tax (GST).

Grand-Flo (fundamental: 1.4; valuation: 0.8) group president and managing director Derrick Tan said its first quarter ended March 31(1QFY15)'s net profit of RM5 million is already 75% of its full year FY14 net profit of RM6.67 million.

"We expect our Thai-associate company, Simat Technologies Public Company Ltd, to turn black by the end of this year," he told reporters after the group's annual general meeting today.

Furthermore, he said Grand-Flo aims for its property development segment to contribute to half of the group's revenue in the financial year ending Dec 31, 2015 (FY15) from 20% in FY14.

Grand-Flo diversified its business to include property development in 2014; it now has two on-going projects in mainland Penang - Vortex Business Park and The Glades - with gross development values of RM220 million and RM63 million, respectively.

Both projects are targeted for completion in 2017. Unbilled sales of RM78.1 million from them will be recognised till 2017.

"We will also benefit from the implementation of GST as businesses look for solutions," he said, adding that the company will target small and medium businesses, especially those in the fast moving consumer goods (FMCG) and food and beverage (F&B) industries.

Its current orderbook for the tracking solutions segment is at RM14 million.

Grand-Flo posted a net profit of RM5.03 million in 1QFY15, up 50.6% from RM3.34 million a year ago; revenue was up 91.69% at RM27.22 million compared with RM14.2 million a year ago.

This was attributable to a favourable product mix as well as contributions from the property segment in the quarter under review.

Grand-Flo reported a net profit of RM6.16 million in FY14, down 52.51% from RM12.97 million in FY13; revenue was down 4.43% at RM85.64 million compared with RM89.6 million in FY13. 

http://www.theedgemarkets.com/my/article/grand-flo-sees-better-fy15-higher-contributions-property-segment-gst-related-solutions

Stock To Watch

Evergreen @ 1.16 Good quarter 1 result

http://www.malaysiastock.biz/Corporate-Infomation.aspx?type=A&value=E&securityCode=5101

Greece does not have the money to make June IMF repayment: interior minister

Greece cannot make debt repayments to the International Monetary Fund (IMF) next month unless it achieves a deal with creditors, its interior minister said on Sunday, the most explicit remarks yet from Athens about the likelihood of default if talks fail.

Shut out of bond markets and with bailout aid locked, cash-strapped Athens has been scraping state coffers to meet debt obligations and to pay wages and pensions.

After four months of talks with its euro zone partners and the IMF, the country's leftist-led government is still scrambling for a deal that could release up to 7.2 billion euros ($7.9 billion) in remaining aid to avert bankruptcy.

http://mobile.reuters.com/article/topNews/idUSKBN0O908520150524?irpc=932

BURSA: FBM KLCI To Trade Sideways Next Week.
By Azlee Nor Mahmud
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) is likely to consolidate sideways between 1,800 and 1,780 level next week, weighed down by the hawkish US Federal Reserve statement and weak global economic data.
Affin Hwang Investment Bank vice-president and head of retail research Datuk Dr Nazri Khan said the economic data included lower than expected figures on the US home sales, the US Manufacturing Purchasing Managers’ Index (PMI), the Germany Manufacturing PMI, and the French Manufacturing PMI.
On the local front, he said the monetary allocation under the 11th Malaysia Plan (11MP) and its focus on public and private investments should be a major catalyst in purchasing local stocks over the medium term. In addition, he said the 11MP and its allocation on power sector would be able to provide support for the sideway weakness.
“We also note the consumer confidence index improved five points to 94 points in the first quarter of this year, according to the Nielsen Global Survey, suggesting that Malaysian consumers are generally confident with the economic conditions despite the Goods and Services Tax implementation and rising prices,” he told Bernama.
Main market volume increased to 6.62 billion units worth RM8.97 billion against 4.57 billion shares valued at RM7.99 billion last week.
- Bernama

Market Outlook as at May 22, 2015

FBMKLCI & FBMEMAS are again back to the low recorded two weeks ago (point 'A'). If they go below this level, then a medium-term downtrend could begin. This would be the end of the 5-month rally that dated back to December last year. Even the support at 1770-1780 for FBMKLCI or 12100-12300 for FBMEMAS would be a poor consolation if the downtrend starts.

The sharp drop in the market today seems to coincide with the news reports that Deputy Prime Minister ('DPM') has called for the sacking of the Board of Directors of 1MDB. Is this the breaking of rank between our DPM & the PM on the issue of 1MDB? Would this lead to a bigger riff and a challenge for the Presidency in UMNO?

Stock markets abhor uncertainty, especially political uncertainty. This will add to the growing list of concerns, which includes poor consumer sentiment, uncertainty in the Euro-zone, heightened geopolitical risk in the Middle East and weak global economy.
http://nexttrade.blogspot.com/

KLCI down 15.07pts amid Malaysia's political, 1MDB concerns
http://www.theedgemarkets.com/my/article/klci-down-1507pts-amid-malaysias-political-1mdb-concerns

More high-flying Hong Kong stocks tumble a day after Hanergy's rout

HONG KONG: Shares of two companies owned by Chinese billionaire Pan Sutong slumped as much as nearly two-thirds in Hong Kong on Thursday, in the second day of steep share price declines of previously high-flying stocks in the Asian financial hub.

Goldin Financial Holdings and Goldin Properties Holdings fell more than 60 percent in Hong Kong trading at one point, wiping about $23 billion off the value of the companies. By afternoon, they were down 40 percent.

Their apparently inexplicable tumble follows that of Hanergy Thin Film Power Group Ltd, which on Wednesday dropped nearly 50 percent before being halted from trading, with a source later telling Reuters the Chinese company is under investigation by Hong Kong's securities watchdog.

The share slides cast doubts about Hong Kong's reputation as a global financial hub at a time of increased interest from foreign investors following the launch of a landmark trading link with Shanghai's stock exchange last year.

Reuters could not immediately determine any link between Hanergy and the Goldin companies beyond the stock movements, and on Thursday, all three companies said they were not aware of any reason for the falls.

Hanergy's parent company, in a statement on its website, added to the mystery surrounding the rout, saying its financials were sound and that it had not sold any of the 30.6 billion shares it holds in its Hong Kong-listed unit.

SEE-SAW SHARES

The Hong Kong-Shanghai stock trading link has brought in a deluge of Chinese funds and triggered a rally in Hong Kong stocks, but market volatility has also increased. Hanergy shares were among the top traded on the trading link.

Goldin Financial and Hanergy had seen their values climb more than four-fold since September, an increase at odds with more modest gains in underlying business fundamentals, according to an analysis of the companies' financial statements. Goldin Property spiked almost six-fold between March and May.

The drop in Goldin's stocks on Thursday was accompanied by a spike in trading volumes. About 26 million Goldin Properties shares changed hands compared to up to 6 million in previous sessions. Goldin Financial volumes leapt to over 12 million from the past month's 2-3 million range.

Goldin Financial, which is 70 percent owned by Pan, is involved in providing finance to small businesses secured against their sales. It also owns vineyards in France and California.

It had a peak market value of around HK$247 billion against a first-half net profit of HK$1.4 billion.

In March, Hong Kong's Securities and Futures Commission cautioned investors against trading in Goldin Financial's shares, noting that just 20 investors, including Pan, owned 98 percent of the shares.- Reuters

http://www.thestar.com.my/Business/Business-News/2015/05/21/More-high-flying-Hong-Kong-stocks-tumble-a-day-after-Hanergy-rout/?style=biz

Oriental Food proposes 1-for-1 bonus issue; net profit jumps 141%

Oriental Food Industries Holdings Bhd, whose share price has doubled since March, has proposed a bonus issue of 60 million new shares on the basis of one bonus share for every one existing share to entitled shareholders, at a date to be announced later.

The confectionary and snack food manufacturer announced its results for the fourth quarter ended March 31, 2015 (4QFY15), in which its net profit jumped by 141% to RM7.55 million, from RM3.13 million in 4QFY14, on higher revenue that grew 6% to RM58.94 million, from RM55.4 million previously.

For the full year ended March 31, 2015 (FY15), Oriental Food saw its net profit jumped 37% to RM22.19 million, from RM16.17 million in FY14, on higher revenue that climbed 4.5% to RM237.03 million, from RM226.89 million previously.

It declared a 7 sen dividend in 1QFY15, bringing total dividend declared in FY15 to 13 sen.

http://www.theedgemarkets.com/my/article/oriental-food-proposes-1-1-bonus-issue-net-profit-jumps-141

AllianceDBS Research 21/5/2015

Technical Buy - Mulphal @ 0.91
TP 1.00 - 1.10
Cut-Loss - 0.85

JCY International 's net profit jumps 34% due to weak ringgit, higher selling prices

JCY International 's net profit jumps 34% due to weak ringgit, higher selling prices

JCY International Bhd saw its net profit increased 34% to RM51.15 million or 2.52 sen per share in the second quarter of financial year 2015 ended March 31, 2015 (2QFY15), compared to RM38.1 million or 1.88 sen per share in the previous corresponding quarter, due to weaker ringgit against the US dollar and better average selling prices (ASP).

In a filing with Bursa Malaysia today, JCY International (fundamental: 2.1; valuation: 1.8) recorded a 7.044% increase in revenue to RM508.8 million in 2QFY15, compared to RM475.32 million in the second quarter of financial year 2014 (2QFY14).

Year-to-date (YTD), net profit rose 48% to RM101.34 million or 4.99 sen per share, compared to RM68.36 million or 3.37 sen per share last year; while revenue rose 4.68% to RM996.67 million, compared to RM952.13 million last year.

The company has declared dividend of 1.25 sen per share.

In a statement, JCY International said gross profit margin in 2QFY15 stood at 10%.

The company said the improved performance was mainly attributable to the favourable exchange rate of US$ against the ringgit and better ASP.

JCY International's non-executive chairman Rozali Mohamed Ali said prudent financial management and with investment in automation processes have resulted in improvements in operational efficiency.

“This has enabled us to maintain our steady performance over the last quarter,” he added.

On its outlook, the company said original design manufacturer (ODM) shipment numbers that had been released recently for quarter ended March 31, continue to reveal softness in personal computer (PC) builds with output down slightly, compared with the shipment number in the previous financial quarter.

However, enterprise shipments are expected to recover in the second half of the year, on increased demand from traditional storage or server vendors, as well as hyperscale companies, the company said.

JCY International also said the Sony Playstation 4 finally commenced selling in China towards the end of March 2015, and the prospective PC refresh cycle resulting from Windows 10 may help to improve hard disc drive (HDD) shipments for the second half of 2015.

“The demand for cloud infrastructure and enterprise applications will continue to make up for the reduction in PC shipments,” the statement read.

“The recent appreciation of the US$ relative to the ringgit will continue to benefit JCY International’s results, as all sales are denominated in US dollar.”

The company said it will continue to automate its production process to improve productivity and reduce reliance on manual workers.

JCY International's share price was flat at 77 sen today, with a market capitalisation of RM1.573 billion

http://www.theedgemarkets.com/my/article/jcy-international-s-net-profit-jumps-34-due-weak-ringgit-higher-selling-prices

Skpres contract from DYSON @ RM400m/yr for 5 yrs
http://www.bursamalaysia.com/market/listed-companies/company-announcements/4741901

Bullish breakout on the cards for Ivory

After touching an all-time low of 37 sen on Dec 16, last year on bearish extended move, Ivory Properties Group Bhd bounced off the ebb and attempted to recover in the wake of fresh bargain hunting buying.

However, prices could not attract follow-through interest and subsequently, they slipped into range-bound consolidation in mid-January.

The process last four months before we see prices making another effort to mend.

Ivory shares bounced to a high of 47 sen in the morning, the best level in almost six months, but closed at 45.5 sen, up three sen at midday.

From the daily chart, this stock is clearly facing significant resistance at the 47 sen barrier, followed by the 200-day simple moving average (SMA) of 48 sen, also a strong hurdle.

Going forward, a decisive penetration of these two lines would signal a bullish turnaround, en-route to the 57 sen to 60 sen band.

If unsuccessful, Ivory is likely to retrace back to consolidation mode.

Elsewhere, the oscillator per cent K and the oscillator per cent D of the daily slow-stochastic momentum index had eased slightly after flashing a short-term sell deep in the overbought territory on Monday.

In stark contrast, the 14-day relative strength index extended the upward thrust to settle at the 90 points level at midday, up from a reading of 38 a week ago.

Also looking good, the daily moving average convergence/divergence histogram expanded positively against the daily signal line after triggering a buy signal on Tuesday.

Technically, most of the indicators are painting a promising pictogram and with trading volumes increasing sharply, suggesting growing investors’ interest, a bullish breakout may be on the cards.

Initial support is seen at the 43 sen mark.

An additional floor is resting at the 39.5 sen line
http://www.thestar.com.my/Business/Business-News/2015/05/20/Bullish-breakout-on-the-cards-for-Ivory/?style=biz

Hup Seng Q1 pre-tax profit rises 36% to RM17

http://www.themalaysianinsider.com/business/article/hup-seng-q1-pre-tax-profit-rises-36-to-rm17-million#sthash.vtYVTGqQ.dpuf

Econpile's 3Q net profit surges 128%

Econpile Holdings Bhd posted a net profit of RM12.5 million for the third financial quarter ended March 31, a 128% jump from RM5.5 million in the previous corresponding quarter.

Revenue was also higher, as the group reported a 30% increase from RM87.6 million to RM114.1 million in 3Q15.

In a statement today, the piling and foundation specialist attributed the group’s financial improvement to lower operating expenses and improved efficiency.

“Econpile’s strong performance thus far, indicated the group’s increased efficiency and our ability to ride the wave of development in the country, particularly in the high-rise property segment,” said its group CEO Raymond Pang.

He added that the outlook for the company looks bright, in view of the government’s decision to undertake more infrastructure projects such as the MRT 2 and LRT 3.

“We are positioning ourselves to tender for these major infrastructure projects, as they come.”

Econpile’s orderbook as at March 31 amounts to over RM517 million, and it is tendering for over RM1 billion worth of projects, predominantly in the Klang Valley area.

Econpile share price gained 4.5% to RM1.16 today, with 6.36 million shares traded. Its market capitalisation was RM609.9 million.

http://www.theedgemarkets.com/my/article/econpiles-3q-net-profit-surges-128

Mitrajaya @ 1.97 TP 2.92 by HLIB

HLIB maintains Buy on Mitrajaya

Hong Leong Investment Research has kept a Buy call on Mitrajaya with a target price of RM2.92, pegged on FY15-16 P/E of 14.7 times and 12.2 times respectively.

In a note on Tuesday, the research house said Mitrajaya offers investors superior earnings growth prospects with 3 year CAGR of 24% on the back of undemanding valuations at 9.1 times and 7.6 times FY15-16 P/E.

Given strong job wins recorded last year at RM1.1bil, Mitrajaya currently sits on an all-time high orderbook of RM1.9bil.

This implies a superior orderbook cover of 5.1 times FY14 construction revenue vis-à-vis its peers average of 2.1 times. As such, earnings growthvisibility over the next 2 years is already anchored by this.

The research house said the company's year-to-date job wins amount to RM230mil and management is gunning for RM1bil this year compared to the more conservative assumption of RM500mil.

"Mitrajaya has tendered for RM1.9bil worth of jobs comprising buildings in the Klang Valley (RM1.4bil) as well as buildings (RM350mil) and infra works (RM180mil) in Johor.

"We gather that a potential contract win (RM300mil) could be on the cards over the next 1 to 2 months.
"Aside that, Mitrajaya is also a strong contender for the LRT3 station works which should take off in 1Q16," it said.
http://www.thestar.com.my/Business/Investing/2015/05/19/HLIB-maintains-Buy-on-Mitrajaya/?style=biz

Greek Leaders Say Deal Is Within Reach Amid Doubts by Creditors

Greek leaders expressed optimism a deal to unlock bailout funds is within reach, in the face of continuing warnings by creditors that the country has yet to comply with the terms of its emergency loans.

“We are very close” to an agreement, Finance Minister Yanis Varoufakis said in an interview late Monday with Greece’s Star TV Channel. “I’d say it is a matter of one week.”

Earlier Monday, Prime Minister Alexis Tsipras had told Greek industrialists that “we are now at the final stretch before striking a mutually beneficial agreement, after long and painful negotiations.”

Greece’s anti-austerity government has repeatedly expressed confidence a deal was imminent, only to be rebuffed by creditors seeking more concrete actions in areas including labor market deregulation and pension-system overhaul.
http://www.bloomberg.com/news/articles/2015-05-18/greek-leaders-say-deal-is-within-reach-amid-doubts-by-creditors

‘Next market high’ for property seen in 2018

A combination of pent-up demand, improved buyer sentiment and overall business environment is expected to spur the local property market to its “next market high” in 2018.

PPC International Sdn Bhd chief executive officer Siva Shanker said conditions have been improving albeit slowly, with the implementation of the goods and services tax (GST) not really having much of an impact as originally expected.

“GST came and went and everyone is still carrying on. But the general perception is that business is slow. When things are slow, the first thing that suffers will be property, because it is a big-ticket item.”

Siva said property transactions, not prices, have been spiralling since 2012.

“But we believe things (transactions) are improving already and we expect 2018 to be the next market high,” he said.

SK Brothers Realty Sdn Bhd general manager Chan Ai Cheng believes the market would bounce back as soon as the Government decides to “boost the sector,” namely, measures promoting the industry.

“We hope the market will return within the next two years,” she said.

Chan admitted that property transactions this year have been a little slower compared with the same period in 2014.

“From our marketing activities and road shows so far, it (transactions) has reduced compared with last year. There’s a bit of hesitation.

She added that the central bank’s tighter lending rules has had an impact on transactions.

“Year-to-date bookings have been about the same as last year, but conversions into sales are not the same.”

An AmResearch report last week reaffirmed an “overweight” outlook for the local property sector.

“While we expect residential prices to continue moving sideways in 2015, a return of pent-up demand towards end-2015 – barring external shocks – is possible as the market is still awash with liquidity.

“Besides that, property cooling measures and post GST impact appears to have already been priced-in, given the steep 52% discount that property stocks within our coverage currently trade at vis-à-vis their respective net asset value.”

In terms of property sub-segments, Siva feels that high-end condominiums are oversupplied within the Klang Valley.

“With that, owners will have problems selling. The landed (residential), industrial and commercial sectors, I believe, will be alright.”

He said the office subsector was also oversupplied - but added that it wasn’t a worrying situation.

“In the short-to-medium term, the oversupply will be absorbed. This is normal. Not every building will be fully taken up - it usually takes a while to get tenants anyway.”

In terms of pricing, Siva said secondary property prices were between 20% and 40% cheaper than new launches.

“It’s the secondary market that’s doing better now. But the focus should be on affordable homes, namely those below the RM500,000-range.

“Landed property within this price range is grossly undersupplied,” he said.
http://www.thestar.com.my/Business/Business-News/2015/05/18/Next-market-high-for-property-seen-in-2018/?style=biz

Newman....both mikromb n tomypak cun cun strike bulls eye.....dun worry if go holland bcoz no one is perfect.....& nobody put a gun to our head asking us to buy.....appreciate your sharing.....cheers!!!

Tq newman.....mikromb like :)

@anticonman, I am responding to earlier discussion.

LCTH is a subsidiary of Fu Yu Corp Ltd, listed in the main board of SGX on 14 June 1995 & control by Singaporeans. Beside Msia, Fu Yu Corp also has manufacturing facilties in China. It is not a Chinese Company. Do correct me if I am wrong.

Bursa Malaysia To Stage Further Rebound Next Week
By Mohd Khairi Idham Amran KUALA LUMPUR

Positive Gross Domestic Product (GDP) data and rising local currency and commodity prices are expected to drive shares on Bursa Malaysia for a further rebound next week. Affin Hwang Investment Bank VicePresident and Head of Retail Research Datuk Dr Nazri Khan said the local index put up a strong defensive performance, with upside leadership coming from gains in technology and construction sectors, driven by a stronger ringgit and rising light crude oil price. “The fact that the ringgit had its best month in three years (up 5.1 per cent in April) and Malakoff initial public offering was 14 times oversubscribed suggest that strong foreign confidence has returned,” he told Bernama.

Furthermore, he said investors would also be focusing on the upcoming 11th Malaysia Plan (May 21) on measures to boost Malaysia’s economic growth in the march towards a developed country. “We project the 11th Malaysia Plan, which will adopt a new approach (Malaysian National Development Strategy, Creativity and Blue Ocean Strategy), to be a comprehensive blueprint to chart the direction of all economic sectors in the country towards 2020,” he said. He said the focus of the plan would also likely be on Islamic finance and green economy by highlighting on innovation, knowledge abilities, bridging socioeconomic inequalities, improving quality of living, and institutional delivery.

“We expect one of the 11th Malaysia Plan objectives, which is to have a twin surplus (budget and current account surplus) through broadening government revenue and optimising expenditure, to be an attractive proposition for big investors and a positive influence on international rating agencies,” he added.

On a Friday-to-Friday basis, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 4.27 points to 1,811.92 from 1,807.65 previously, lifted by buying sentiment in the last two days on bargain hunting. Weekly turnover declined to 6.81 billion units worth RM8.94 billion from 6.81 billion units worth RM7.63 billion previously. Main market volume increased to 4.5 billion shares valued at RM7.99 billion versus 4 billion shares valued at RM7.04 billion last week.
- Bernama

Eye on stock - Gadang @ 1.60

AFTER a strong rally, Gadang Holdings Bhd (Gadang) shares retraced from the 10-year peak of RM2.04 on July 24 to a low of RM1.18 in mid-December last year on a five-month correction process due to profit-taking activity.

Thereafter, the stock fluctuated in a moderate band amid bargain hunting, alternated with profit-taking activity before a fresh bout of buying momentum sent its price higher.

This stock bounced to as high as RM1.63 during intra-day session yesterday.

Based on the daily chart, Gadang had penetrated the 10-month-old descending line, supported by greater trading volumes, suggesting a bullish breakout.

Going forward, prices are expected to sustain the upward thrust on follow-through buying momentum.

Initial upside objective would be to test the immediate resistance of RM1.76. The next upper hurdle is resting at the RM1.90 mark, followed by the previous rally apex of RM2.04, of which a decisive breakthrough would clear the way for more upward move.

Elsewhere, the oscillator per cent K and the oscillator per cent D of the daily slow-stochastic momentum index were rising. It had issued a short-term buy at the neutral area yesterday.

Also calling for a buy, the daily moving average convergence/divergence histogram climbed over the daily signal line yesterday.

In addition, the 14-day relative strength index rose from a reading of 47 on Tuesday to end at the 77 points level yesterday.

Analysis on the chart developments, combined with the multiple positive technical signal, implies a steadier trend ahead.

As for the downside, crucial floor is pegged at the 100-day simple moving average of RM1.45. - By K.M. Lee

http://www.thestar.com.my/Business/Business-News/2015/05/16/Eye-on-stock/?style=biz

AllianceDBS Research 15/5/2015

Technical Buy - SBC Corp @ 1.10
TP 1.20 - 1.30
Cut-Loss - 1.05

S&P 500 ends at record high as dollar loses ground

U.S. stocks ended sharply stronger on Thursday and the S&P 500 closed at a record high as investors worried less about interest rates and a weaker dollar offered the possibility of stronger sales for U.S. multinationals.

The S&P 500 gained 22.62 points, or 1.08 percent, to end at 2,121.1, exceeding its previous all-time high close of 2,117.69 on April 24. The Nasdaq Composite had its strongest day since January.

After oscillating in what many investors view as a range for much of the past three months, the S&P's gain in 2015 now stands at 3 percent.

The dollar moved to its lowest since January against a basket of currencies of major U.S. trading partners - good news for companies that have large foreign sales.

A report showing a dip in initial claims for state unemployment benefits last week did little to change broad expectations that the U.S. Federal Reserve would not increase interest rates before the second half of 2015 at the earliest.

"There's a 50-50 chance they're not going to raise rates this year, so why are we spending two years discussing this? Let's focus on the fact that the economy is doing okay," said Steve Goldman, principal of Goldman Management in Short Hills, New Jersey. "The path of least resistance is higher."

Wall Street's top banks expect the Federal Reserve to begin raising interest rates in September, according to a Reuters poll last week.

The Dow Jones industrial average rose 191.75 points, or 1.06 percent, to end at 18,252.24.

The Nasdaq Composite added 69.10 points, or 1.39 percent, to 5,050.80.

All of the 10 major S&P 500 sectors were higher, with the tech index's 1.73 percent rise leading the way. Apple shares rose 2.33 percent, making the stock the biggest driver on both the Nasdaq and S&P 500.
http://www.theedgemarkets.com/my/article/sp-500-ends-record-high-dollar-loses-ground

Greece signs EBRD deal worth up to 500 million euros a year

Greece signed an investment deal worth up to 500 million euros a year with the European Bank for Reconstruction and Development (EBRD) on Thursday, gaining a rare financial endorsement from the region for its attempts to remain solvent.

The EBRD and Greece formally signed the five-year agreement at the development bank's annual meeting in Georgia. It was approved by the bank's shareholders in March.

"It could help the country's economic recovery significantly," Greece's economy ministry said in a statement.

The ministry added it should boost the funding options of Greek businesses, especially the small and medium-sized ones that have been hit the hardest by the country's economic crisis.

The EBRD's decision to start lending in Greece comes after years of debate at the bank about whether a member of the world's most advanced monetary union fits with the bank's role of helping countries make the transition to market economies.

The head of the bank, Suma Chakrabarti, has said he hopes to have the first Greek projects in place in coming months but admits Athens leaving the euro would complicate things.

New EBRD forecasts on Thursday predicted Greece's economy would stagnate this year and the bank's staff warned if it left the euro, the situation would be far worse both for itself and the countries around it.
http://www.theedgemarkets.com/my/article/greece-signs-ebrd-deal-worth-500-million-euros-year

AllianceDBS Research 14/5/2015

Technical Buy - Humeind @ 3.73
TP 3.90 - 4.20
Cut-Loss - 3.64

Malaysians urged to invest amid current technical correction

Malaysians should take the opportunity to invest, whether in the stock market or unit trusts, during this current technical-correction phase, said Malaysia Association of Technical Analysts (MATA) President, Datuk Dr Nazri Khan Adam Khan.

Seeing the technical correction in the stock market as a "usual" phase  annually, he said the current weaker market environment coupled with the easing of the ringgit and lower oil prices should augur well for market players to invest.

"In the months of May and June every year, seasonally, the (stock) market will consolidate, that's normal. I think the main reason the market is consolidating right now is because of expectation that the United States will raise its interest rate.

"In the past, the market will normalise in the next few months after consolidation. So, take this opportunity (consolidation) to invest, directly or indirectly," he told reporters after the announcement of Ariflabur programme by Pelaburan Mara Bhd here, today.

He said that 2015 would be the best time to invest as the 11th Malaysia Plan would be unveiled on May 21, with a stimulus package estimated to be up to RM350 billion.

"The pillar of this package is definitely going to be the development of the Tun Razak Exchange (TRX) which is basically to make Malaysia as one of the Islamic finance centres in the world, while Shariah finance houses could benefit the most from it," he said. 

Nazri Khan expected the TRX to be the gateway for Malaysia to the Islamic world, whereby investors not only could invest in the local Islamic market but also in foreign markets through the exchange.

He said the progress of the TRX is currently positive as the government has already invited 100 Islamic multinational companies to the exchange.

The Asean Economic Community (AEC) which will take off this October would also be another good reason for investors to be more aggressive in making their investment.

Nazri Khan said the fact that Malaysia is going to chair the first AEC meeting this year and the ASEAN Exchanges link-up next year would further benefit the local investment.

"In terms of fund management industry, we are the biggest in Southeast Asia with a value of RM630 billion," he said.

Adding fillip to the market, Nazri Khan said there were some 10 big initial public offerings (IPO) to be launched this year, including Malakoff Corporation Bhd, which is slated for listing this Friday, is the biggest IPO on Bursa Malaysia since 2012.

"That will create a spark on Bursa Malaysia and lot of indirect investment including the unit trusts," he added.
Among other mega IPO scheduled for launch this year are Iskandar Malaysia Sdn Bhd, which is expected to be the largest property IPO in ASEAN, Sunway Construction and Sime Darby Auto.- Bernama 

http://www.thestar.com.my/Business/Business-News/2015/05/13/Malaysians-urged-to-invest-amid-current-technical-correction/?style=biz

Dialog @ 1.65 TP 2.00 by CIMB

CIMB Research ups Dialog Group target price to RM2

CIMB Equities Research has raised the target price for Dialog Group from RM1.96 to RM2, which is 25% above the last traded price of RM1.60.

The research house said higher contributions from Pengerang and the production-sharing contract (PSC) for three fields powered Dialog to hit a record quarterly net profit in the third quarter ended March 31, 2015 (3QFY6/15).

“This led to an all-time high nine-month net profit that exceeded expectations, forming 85% of our full-year forecast and 86% of consensus.

“We expect a stronger 2H on more Pengerang contributions as Dialog aims for another record year in FY15. We raise our FY15-17 EPS forecasts by 2-6%. Our target price rises as we update our sum-of-parts valuation,” it said.

CIMB Research continues to value the stock at 15 times CY16 price-to-earnings (P/E), at par with its target market P/E.

“Positive Pengerang outlook is a potential re-rating catalyst that supports our Add call,” it said.

To recap, it said Dialog’s 3Q net profit jumped 65% on-year. The boost came from higher contributions from engineering, procurement, construction and commissioning (EPCC) activities at the Pengerang tank terminal.

The PSC for D35, D21 and J4 fields contributed to the 65% on-year growth in Dialog’s 3Q15 net profit of RM82mil, which is a new record.

The margins for earnings before interest, tax, depreciation and amortisation (EBITDA) margin advanced to 17% from 10% a year before, thanks to the PSC’s contributions that were booked for the first time in 1Q15.

The record 3Q15 performance pushed 9M15 net profit up 29% to a new high of RM164mil.

In 3Q15, Dialog completed EPCC activities at Pengerang’s Phase 1C and began works on Phase 2. Phase 1 is already in full operations, receiving more than 160 vessels, including very large crude carriers, to date.

“We raise our FY15-17 EPS forecasts by 2%-6% to reflect higher Pengerang contributions,” it said.

Meanwhile, a site at the terminal is being prepared for the construction of liquefied natural gas (LNG) regasification facilities in a partnership comprising Petronas Gas (65%), Dialog (25%) and the Johor state government (10%). The LNG facilities are slated to be operational by Oct 2017.

Production enhancement and redevelopment activities continue at the Bayan enhanced oil recovery project. Furthermore, development activities are being aggressively pursued at the D35, D21 and J4 fields to rejuvenate and increase oil production under the PSC.
http://www.thestar.com.my/Business/Business-News/2015/05/13/CIMB-Research-ups-Dialog-Group-target-price-to-RM2/?style=biz

Sorry, OSK Prop is proposed mandatory take-over offer but PJD is proposed voluntary take-over offer.

Am i right to say that the plans have been approved by SC but the proposed voluntary take-over offer may or may not succeed bcoz it depends on the rate of acceptance ???

Market Outlook as at May 12, 2015

Today is not a good day for our market. FBMKLCI broke below the previously overcame downtrend line, RR as well as the psychological 1800 support. With these double whammy, FBMKLCI is poised to go lower, possibly testing the 1770-1780 level in the next few days. To avoid this downside trajectory, FBMKLCI must recover above the 1800 mark soon.

http://nexttrade.blogspot.com/

Oil prices dipped on Tuesday as Saudi Arabia reported strong crude production figures and U.S. investment bank Goldman Sachs warned of further oil price declines.

Oil prices drop on high Saudi output, Goldman expects more falls
Tuesday's falls continued price declines on Monday and the previous week, and they came after Brent climbed 40 percent from its January lows, with many analysts saying upward momentum looks to have come to an end as production around the world continues to outpace demand.

Top oil exporter Saudi Arabia pumped 10.308 million barrels of oil per day in April, slightly less than in March but still close to record highs.

Goldman Sachs said in a note that the recent price rally itself prevented a reduction of oversupply and would therefore lead to lower prices going forward.

"While low prices precipitated the market rebalancing, we view the recent rally as premature with crude oil prices expensive relative to current and forecast fundamentals," the investment bank said.

"As a result, we believe that the recent price rally is premature (and) that prices need to sequentially weaken, to resume the oil market rebalancing as well as help correct the still intact imbalance of too much capital looking for opportunities in the energy space," it added.
http://www.theedgemarkets.com/my/article/oil-prices-drop-high-saudi-output-goldman-expects-more-falls

Johor property glut prompts Singapore to warn buyers of risks

In Johor alone, there are around 336,000 new private residential units in the pipeline – more than the total number of private homes in Singapore.

And this does not include the 1,400ha of reclaimed land near the Tuas Second Link, which will be developed from 2020 onwards.

In the light of rising concerns about this oversupply of private properties across the Causeway, the Singapore government will ramp up efforts to raise awareness of the risks involved in buying overseas property.

“Given these indications, buyers are becoming more cautious, as shown by many reports,” Singapore minister for culture, community and youth Lawrence Wong said in the Singapore parliament yesterday, in his capacity as a member of the Monetary Authority of Singapore’s (MAS) board of directors.

“Official Malaysian data suggest the Johor housing market is already slowing down ... Singaporean buyers, too, are becoming wary.”

According to a survey of real estate agencies, the number of Malaysian properties bought through these agencies dropped from 2,609 in 2013 to 838 last year, said Mr Wong, who was replying a query by Singapore MP Dr Lee Bee Wah (of the Nee Soon group constituency).

Her question on how many Singaporeans are individual owners of properties in Iskandar Malaysia comes after a recent Maybank report cautioned investors that the glut of homes in Iskandar will be aggravated by a huge incoming supply this year and next.

The report pointed the finger at aggressive land-banking activities by Chinese developers, which could worsen the glut and lead to price wars in the high-rise mixed-development segment.

Data from Malaysia’s National Property Information Centre, which Wong had cited, also show that the number of upcoming planned properties in Johor is the highest in the country.
http://www.themalaysianinsider.com/malaysia/article/johor-property-glut-prompts-singapore-to-warn-buyers-of-risks

MMSV @ 0.83 TP 0.95 by Kenanga
http://klse.i3investor.com/blogs/kenangaresearch/76373.jsp