Posted by Alias258 > 2013-09-02 20:09 | Report Abuse

Debt-laden Malaysian fund stirs controversy

SOMETIME in September 2009, currency traders at Bank Negara Malaysia were jolted by huge purchases of US dollars in the domestic currency market and quickly decided to halt the selling pressure on the local currency. They were promptly told to stand down by their superiors.

The buildup of US dollar positions on that day paved the way for state-owned 1 Malaysia Development Bhd (1MDB) to move US$1 billion out of the country for an investment in a British Virgin Islands entity.

“At the time, no one knew where the money was headed or why such a large amount was being taken out,” said one senior Kuala Lumpur-based currency trader familiar with the episode.

“It was a company we needed to watch, because it came out of nowhere and showed clout,” said another chief dealer at a foreign bank in Kuala Lumpur.

These days, 1MDB isn’t just raising eyebrows. The secretive investment arm of the government is sending shockwaves through international bond markets and raising concern at home with its aggressive borrowings, opaque financial manoeuvres and risky bets. It is also becoming a hot political potato for Prime Minister Datuk Seri Najib Razak’s administration.

Opposition politicians insist that 1MDB is part strategic investment arm and part political slush fund for the Najib government, because of its generous financial handouts to key constituencies of the ruling Barisan Nasional (National Front) coalition.

In just over four years, 1MDB has racked up borrowings of more than US$11.97 billion (RM38.4 billion), corporate documents and published accounts reviewed by The Edge Review show. This huge accumulation of debt is against a backdrop of paltry profits, derived largely from the shuffling of assets on its Cayman Island investment and the revaluation of PROPERTIES [] purchased at steep discounts from the government.

No Southeast Asian entity has accumulated so much debt in such a short time, and because the borrowings carry the implicit guarantee of the Malaysian government, bankers and economists say that 1MDB is emerging as a serious contingent liability for the Najib administration.


....read more here

http://www.theedgemalaysia.com/business-news/249300-highlight-special-report-debt-laden-malaysian-fund-stirs-controversy.html

Posted by Alias258 > 2013-09-03 00:51 | Report Abuse

When Pakatan wanted to reduce oil prices, you believed in BN bullshitting and voted for the Barang Naik govt, now you regret lah...next watch the spiralling effects ...this is the begining only , wait for some more bombs to fall on you.

Posted by Alias258 > 2013-09-03 01:27 | Report Abuse

Inflation is low? Mr. PM you must be kidding. Just try out a day with RM50 in your pocket and have breakfast, lunch, tea, dinner, toll and a day's petrol. See how far you can stretch the RM50. Then ask yourself whether the inflation is low? Who is advising you?

Posted by May336d > 2013-09-05 11:28 | Report Abuse

Bought in Feb 2013. Top up when it dropped below RM17.00. Long term investment.

Posted by L. C. Chong > 2013-09-12 11:14 | Report Abuse

PBBANK – Updated analysis with new template: http://lcchong.wordpress.com/2013/09/12/pbbankfundamental-analysis-12-sep-2013/

Posted by choong_dc > 2013-09-12 16:32 | Report Abuse

What the heck man... I think its going to shoot to RM18 soon... to expensive to invest lah...

Posted by ctrl_alt_del2 > 2013-09-18 11:57 | Report Abuse

When it was 13, people waiting for 11, when it was 14,15, people waited for 13. When it got above 16, they ask for below 16. And when GE13 was near, they were given some small chances to buy @ mid 15s but some were just too scared to buy. & the stories goes on & on.

Posted by mansoor1 > 2013-09-29 15:25 | Report Abuse

Sold earlier now regret.

Posted by zamsaham > 2013-09-30 01:25 | Report Abuse

up nearing 14% this year alone. beat that MR.ASB

Posted by calvintaneng > 2013-09-30 06:26 | Report Abuse

Dear Friends at Public Bank. Public Bank's future is bright. Share price is expected to cross RM20.00 in future, albeit slowly but steadily.

Public Bank Staff moves at twice the speed of all other banks. The staff at the counters are number One in the country!- for efficiency.

If you want something Faster and as safe and secure as Public Bank I would like to invite you to consider PM Corp(4081). It has Very High NTA, CASH RICH (Almost Debt Free), Recession proof business in Chocolate Manufacturing & Best of All - It is Giving A CASH PAY OUT SOON!

Check it Out CAREFULLY. PM Corp's Defensive Nature Is AS SAFE AS THE BANK!

Happy Investing!

Posted by kongcheeyee > 2013-10-04 10:36 | Report Abuse

Yeah, feel that now..................!

Posted by newbiestockreturns > 2013-10-11 08:46 | Report Abuse

public bank has found new future leaders.. wow that is a good sign... RM20 on the way.. wooohooo

Posted by newbiestockreturns > 2013-10-11 08:47 | Report Abuse

public bank public bank u my man, if u cant do it, HLBANK can...

Posted by MarketSentiment > 2013-10-14 19:45 | Report Abuse

Like !

Posted by stevenloomk > 2013-10-15 14:41 | Report Abuse

public bank go go go

Posted by KClow > 2013-10-16 10:06 | Report Abuse

newbie is right about pbbank too

Posted by newbiestockreturns > 2013-10-16 10:12 | Report Abuse

told u so

Posted by newbiestockreturns > 2013-10-16 12:16 | Report Abuse

if got money BUY PBBANK ..

Posted by newbiestockreturns > 2013-10-17 12:27 | Report Abuse

>>>upgrades PBBANK to a very Strong BUY

Posted by stevenloomk > 2013-10-17 15:29 | Report Abuse

izzit the 3Q result will out tomorrow?

Posted by evelygtc > 2013-10-20 03:08 | Report Abuse

Can still buy at 18.48?
Only drop a few cents and then went up and up.
Have waited for so long. I think cannot wait now. Will just buy.
What is your advice?

Posted by stevenloomk > 2013-10-20 16:22 | Report Abuse

can buy keep for long team...

Posted by ipomember > 2013-10-20 16:49 | Report Abuse

"Check it Out CAREFULLY. PM Corp's Defensive Nature Is AS SAFE AS THE BANK! "

so tell us how the business during the nearest financial crisis? hehe

Posted by L. C. Chong > 2013-10-22 21:54 | Report Abuse

PBBANK – Q3 2013 Financial Report (http://www.bursamalaysia.com/market/listed-companies/company-announcements/1439181) on 22 Oct 2013

Analysis Report – http://lcchong.wordpress.com/2013/10/22/pbbankfundamental-analysis-22-oct-2013/ or more (http://lcchong.wordpress.com/knowledge-sharing/)

Posted by boonin > 2013-11-13 18:37 | Report Abuse

Mr. Chong, well done!

Posted by Gusen > 2013-12-19 14:49 | Report Abuse

Very Solid and stable up

Posted by choonhock > 2013-12-30 13:33 | Report Abuse

let it fly again.. :)

Posted by ejtic > 2013-12-30 18:00 | Report Abuse

going for 20 by Q1

Posted by Jack Knight > 2013-12-31 16:18 | Report Abuse

PBBANK, i love u

Posted by Asria > 2013-12-31 16:23 | Report Abuse

let it fly to the moon

Posted by Asria > 2013-12-31 16:23 | Report Abuse

Happy new year to all

Posted by Asria > 2013-12-31 16:24 | Report Abuse

Happy new year to all

Posted by Jack Knight > 2013-12-31 16:34 | Report Abuse

buying back...

Posted by Beginner1989 > 2014-01-01 14:32 | Report Abuse

Actually, what happen to this surge actually?

Posted by eric123 > 2014-01-01 14:34 | Report Abuse

a good stock to keep for my children .

Posted by deliverance > 2014-01-01 15:45 | Report Abuse

planning to hold it for long term unless something really jialak happened ... do you guys see it worth to further accumulate around 20?

Posted by mujihero > 2014-01-02 21:48 | Report Abuse

Is a good stock to keep but the valuation is very expensive. Probably the highest p/e banking stock

Posted by Tessa Joseph > 2014-01-02 21:59 | Report Abuse

:)

Posted by Eskay > 2014-01-02 22:00 | Report Abuse

With such pricing, it may be high time to reward its shareholder with bonus shares in order to spread the value and make it affordable to attract new investors. This is a very well manage bank to keep for our children education fund. Let's hope this is what is in store.....so that more people can benefit from it

Posted by angela > 2014-01-03 10:49 | Report Abuse

I love PBB stock. I will keep for long term investment.

Posted by Firebird2 > 2014-01-03 20:47 | Report Abuse

Just sharing.
Yes, I do have PBB shares now locked up.
Expensive, still ok to buy? - Think depends on the time frame that you want to have it. If for longer term, yes.
Some years back, I ask one of my colleagues why he was so happy coming back into the office. He told me he managed to buy 5000 PBB shares at Rm6. It was expensive at that time and I didn't follow.

Posted by achanth > 2014-01-06 08:14 | Report Abuse

Bought at 19.40 since I read price going to 20. Expensive to hold as I lose other opportunities . What is your advise or do I cut loss.

Posted by susuan > 2014-01-07 17:57 | Report Abuse

If you read price going to 20 and bought at 19.40, dont you think it's not worth it?? Unless of course your price target is much higher, and it will take some time, surely. I wouldnt buy at 19.40 and aim for 20!!!!

Posted by jonatlau79 > 2014-01-20 11:23 | Report Abuse

Foreign Holding Now 30.7% (pls hav some corporate action) ....

Posted by valiant > 2014-01-28 00:26 | Report Abuse

Public Bank is not cheap with PE of > 16... comparatively with Bank in China, HK whereby most bank PE is under 10...Example Bank Of China is only 5 with return of over 6% much better than FD... Hong Kong Bank like Dah Sing is lower the NAV Most bank in China is shares is lower than the NAV and provide better dividend.. That is why KLSE is very small compare to the international market. It wont make it to the radar of international investment fund... further more RM is droping towards 4 due to tapering of QE...

Posted by Thomas Tiong > 2014-01-29 07:11 | Report Abuse

Public Bank where got tat high PE....Should be 11.64 for the last Q

Posted by ganasai > 2014-01-31 12:55 | Report Abuse

achanth, price goto 20 sure is not problem. problem is time. recently market start correction already. If you buy because fry, then sorry to say that.

Posted by iafx > 2014-02-05 14:21 | Report Abuse

http://www.theedgemalaysia.com/business-news/273865-highlight-public-bank-4q-net-profit-up-44-y-o-y-declares-30-sen-dividend.html

Posted by eftee > 2014-02-05 15:01 | Report Abuse

How much it b4 the price drops

Posted by L. C. Chong > 2014-02-06 13:22 | Report Abuse

PBBANK Analysis - http://lcchong.wordpress.com/2014/02/06/pbbankfundamental-analysis-6-feb-2014/