maybe due to long weekend holiday.. some ppl sell it for cash.. next Tuesday could climb up again.. anyway, crude oil price went up a bit from $57 to $58.58 dy..
People put premium of Petronas brand. That is why it is higher than Alliance 4.25. To be fair, Alliance is too negative. Maybe RM5 should be a reasonable price. But at current 5.86 is definitely expensive, notwithstanding Forbes listing as one of the top companies in Malaysia
Not to spook anyone but I am betting KLCI might touch 1550 in near term...and if its bad enough, 1500. Why? 1. Depreciation of RM, making imports much more expensive. Foreign selling RM bonds. 2. China economy shrinking, thus, government devalue yuen (3rd time now)sparking a currency war to boost its export. Many companies are selling goods to China, but with yuen decreasing, china will lose its buying power. 3. Shanghai index volatility. drop 5% today buy government backing bring it up to 2% increase. 4. Oil price hovering at 6 years low and expected to trend lower. Malaysia is primarily a O&G country, PETRONAS contribute RM8 bil as tax to government yearly. This time, we are seeing only RM4 bil (USD100 per barrel becomes USD45 per barrel). Blue chips counters in O&G will weight 5. Political instability. 6. Commodities are trading low prices. Copper, oil, due to devalue of Yuen, making China buying power to decrease.
EPF ni goreng banyak la..betul betul have to salute ini EPF..really defend PCHem although this stock only deserves 4 ringgit. Hope the foreigners take this opportunity to dump this trash back to them tomorrow hahahahaha
KUALA LUMPUR (May 9): Higher tax expense pulled down Petronas Chemicals Group Bhd's (PetChem) net profit by 2.1% to RM592 million or 7 sen per share for the first quarter ended March 31, 2016 (1QFY16) from RM605 million or 8 sen per share a year ago.
New IPO: Building management systems (BMS), solar thermal systems and energy-saving services provider, Solar District Cooling Bhd aims to list on the Ace Market!
MQ Trader 428 views | 2 d ago
0:17
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 12164 views | 11 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
dumpdump
7 posts
Posted by dumpdump > 2015-04-30 11:39 | Report Abuse
maybe due to long weekend holiday.. some ppl sell it for cash.. next Tuesday could climb up again.. anyway, crude oil price went up a bit from $57 to $58.58 dy..