Posted by rikki > 2015-07-28 08:22 | Report Abuse

Destini to provide MRO services to AirAsia

AirAsia Bhd signed a collaborative agreement with Destini Bhd's wholly-owned subsidiary Destini Aviation Sdn Bhd yesterday to outsource technical handling, component maintenance repair and overhaul (MRO)
and hangar based MRO to Destini Aviation.

The agreement is to be implemented in a phased manner over the next six to eight months.

AirAsia CEO Aireen Omar said the agreement is part of its plan and initiative to maintain cost efficiency within its MRO arrangements.

"Some of these services are targeted to start domestically at stations such as Penang, Senai, Kota Kinabalu, Kuching, Langkawi and Kota Baru," she said.

AirAsia Group CEO Tan Sri Tony Fernandes told reporters at the signing ceremony yesterday that it expects 10% to 15% savings in terms of cost from the US$100 million it spends on maintenance services per year.

Destini chairman Tan Sri Rodzali Daud said it is enthusiastic about the growth prospects of the global MRO aviation sector, which is estimated to grow at a compounded annual growth rate of 4% over the next 10 years, with global aviation MRO spend exceeding US$85 billion by 2024.

"This is on the back of an expected overall positive outlook on the sector in the coming years on the back of low fuel prices and an increased consumer demand. Growth of the middle income group is expected to be higher in Asia Pacific as compared to any other part of the world and this will translate into higher air travel for both business and leisure travelers," he said.

Destini is an integrated engineering solutions provider involved in MRO services specialising in safety and survival in the aviation and marine industry. It is also a provider of tubular handling equipment and running services in the oil and gas sector.

It recently acquired an 80% equity stake in Safeair Technical Sdn Bhd, which provides technical line maintenance services for several regional airlines and has valid regulatory approvals from the civil aviation authorities of Malaysia, Singapore, Thailand and the Philippines.

"In addition, Destini Aviation has also recently formed a 50:50 joint venture company with UK-based Avia Technique Ltd which provides inspection, repair and overhaul services of aircraft components for the commercial aviation sector.

Destini Avia Technique Sdn Bhd, the joint venture, is expected to be operationalised by the end of October this year," said Rodzali.

http://www.thesundaily.my/news/1501893

Posted by Hitman > 2015-07-28 13:19 | Report Abuse

kipidap bro rikki,...(y)(y)(y)

Posted by rikki > 2015-07-28 13:49 | Report Abuse

Only World Group expands into adventure games

Only World Group Bhd (OWG), a leisure and hospitality services provider, is expanding into adventure games through the purchase of a 60% stake in Escaperoom Holdings Sdn Bhd for RM5.4mil.

OWG said on Tuesday it has signed a conditional share sale agreement with Datuk Ong Kee Seng, Datuk Victor Lo Tung Ho and Datuk Jason Leung Chak Sum to buy the 60% stake.

It said Escaperoom Holdings owned the Escape Room brand and that its core business was the provision of real-life physical adventure games/puzzle concept.


As at July 21, Escape Room was available in seven outlets throughout Malaysia and one outlet each in Australia, Estonia, India, Romania, Thailand, the United Kingdom and Vietnam.

“The vendors shall guarantee that the cumulative consolidated profit after tax of Escaperoom Holdings for the two financial years ending June 30, 2016 and 2017 shall be no less than RM4mil,” it said.

http://www.thestar.com.my/Business/Business-News/2015/07/28/Only-World-Group-expands-into-adventure-games/?style=biz

Posted by rikki > 2015-07-28 19:40 | Report Abuse

ManagePay positive on outlook as M’sia moves towards chip and PIN by 2017

ManagePay Systems Bhd is looking at capturing a bigger piece of the payment solutions market from next year onwards as the country moves to adopt the chip and personal identification number (PIN) cardholder verification method for purchase transactions by Jan 1, 2017 from the current chip and sign.

ManagePay (fundamental: 1.3; valuation: 0) managing director and chief executive officer Chew Chee Seng told reporters today that the group is well positioned to benefit from the payment card reform, as well as the changing trends in the industry.

“It all depends on how fast we go out to capture the market, [and] how fast we can get banks to use our host and terminal,” Chew said after the launch of the group’s MPay chip and PIN payment solution.

Chew added that in five years, players in the industry will be able to capitalise on the opportunity and maximise profits from the changes being pushed by the government via the central bank, in terms of payment cards.

“By taking away the printing of notes [money], the country’s gross domestic product will [improve], and the economy can move faster,” he said.

Chew further noted that it is looking to expand its footprint within ASEAN. It is currently present in Singapore and Myanmar.

“No other player in the ASEAN region is doing the chip and PIN business, except for Malaysia. We hope to capitalise by replicating our abilities and capabilities elsewhere,” he added.

ManagePay is working with Ebizu, a business-to-business technology solutions company targeted at helping small and medium businesses, for its MPay chip and PIN product.

Chip and PIN is a contact and contactless payment solution that uses an electronic chip embedded in payment cards to verify that it is issued by a valid bank, and require customers to supply a PIN when making transactions, as opposed to signatures on the chip and sign method.

Among others, the chip and PIN supports on-premise payments, on-the-go payments and integrated solutions.

It is the first of its type to be certified by MyClear, a wholly-owned subsidiary of Bank Negara Malaysia.

ManagePay closed unchanged today at 29 sen, for a market capitalisation of RM166.78 million.

http://www.theedgemarkets.com/my/article/managepay-positive-outlook-m%E2%80%99sia-moves-towards-chip-and-pin-2017

Posted by rikki > 2015-07-28 20:34 | Report Abuse

SunCon sees robust growth prospect in the construction sector

As of March 31, SunCon’s orderbook stood at RM2.8bil, of which about 40% was in infrastructure, 50% in buildings and the remaining 10% in the supply of precast concrete products to projects in Singapore.

“Currently about 70% of our orderbook is in-house projects,” he added.

He said that the company was also mulling to expand its operation overseas, focusing on Asean countries.

SunCon has an operation in Singapore, where 30% to 40% of its profit comes from, according to Kwan.

He said the group was currently bidding about RM11bil projects and that infrastructure projects such as MRT Line 2 and LRT Line 3 were among the target projects.

“By year-end, we are targeting to increase our tender book up to RM20bil,” Kwan said.

SunCon is involved in projects such as the MRT, LRT, BRT, the Kuala Lumpur Convention Centre and Sunway Pyramid Shopping Mall.

http://www.thestar.com.my/Business/Business-News/2015/07/28/SunCon-sees-robust-growth-prospect-in-the-construction-sector/?style=biz

Posted by rikki > 2015-07-30 08:36 | Report Abuse

Abric ready to trade higher, says AllianceDBS Research

AllianceDBS Research said Abric Bhd (Abric) ( Financial Dashboard) was ready to trade higher and said Abric had on July 29 crossed over the 59 sen hurdle to reach a high of 60 sen before closing near the day’s high at 59.5 sen (up 3.5 sen or 6.25%).

In its evening edition yesterday, the research house said Abric continued to trade above the 20-day and 50-day moving average lines.

“Following the up close on July 29, the stock is likely to test higher level again with immediate hurdle seen at 62 sen.

“A crossover of 62 sen should see further price rise to the next overhead resistance zone, 66 sen – 70 sen.

“The support is at 57.5 sen. A fall below 57.5 sen would put pressure on the stock down to the subsequent support zone, 54 sen – 56 sen,” it said.

AllianceDBS Research said stock volume traded on July 29 was 4.01 million shares compared to the 3-month average volume of 800,000 shares.

The research house said that indicators wise, the MACD was above the 9-day moving average line with the buy signal remains intact.

Posted by rikki > 2015-07-30 13:05 | Report Abuse

Signature jumps to 5-year high on growth outlook

Signature International Bhd ( Financial Dashboard) shares rose 3.07% in early trade to a five-year high today, after TA Securities Holdings Bhd said the kitchen cabinet manufacturer is expected to register a growth of more than 100% year on year (y-o-y) in financial year 2015 (FY15).

At 10.36am, the shares rose 9 sen to RM3.02. However, trading volume was thin at 753,700 shares done.

Year-to-date (YTD), the stock has risen 60.64%, bucking the YTD trend of the KLCI, which has registered a decline of 3.39%.

In its report today, TA Securities Holdings Bhd said the research firm expects Signature, which is expected to announce its fourth quarter of FY15 (4QFY15) results next month, to see its FY15 profit double to between RM38 million and RM 42 million.

The research firm said the growth will be underpinned by higher revenue from projects, retail sales growth and margin improvements.

The research firm also noted that based on the company’s unofficial policy of paying out at least 30% of earnings as dividend, Signature’s FY15 dividend yield will likely be more than 2.7%, as the company is expected to propose a final dividend of at least 4 sen per share in the 4QFY15, in addition to the first interim dividend of 4 sen per share.

TA Securities said Signature’s earnings for the nine months of FY15 (9MFY15) had already exceeded the core profit of financial year 2014 (FY14) by 31%.

“As such, Signature’s FY15 performance is expected to take out the record profit of RM23.8 million achieved in FY14, comfortably,” the report read.

This is despite Signature’s order book of RM150 million as at June 2015, representing only 60% of the research firm’s estimated project revenue for financial year 2016 (FY16).

However, TA Securities said it was unperturbed by Signature’s order book, saying the group has close to RM400 million in its current tender book to support future earnings growth.

Some of the potential jobs in the tender book include a kitchen project of Country Garden @ Danga Bay development which is to be dished out as soon as the development, which was launched in August 2013, is expected to be completed and handed over in 2016, the research firm said.

TA Securities also said that Signature is expected to bid for kitchen works of Phase 2 of the Battersea Power Station project, which was launched in February 2014.

However, given that Battersea Phase 2 is expected to be completed by 2017 to 2018, the project is expected to be awarded in 2016, the research firm said.

TA Securities maintained its “Buy” recommendation with a target price of RM3.65 per share, based on unchanged 10 times FY16 earnings per share (EPS), given the favourable change in the property trend, which bodes well for Signature’s future earnings.

Signature (fundamental: 2.3; valuation: 2.1) has a market capitalisation of RM351.47 million.

Posted by rikki > 2015-07-31 11:56 | Report Abuse

Stock To Watch

Bpplas @ RM1.00

http://nickstockinvestment.blogspot.com/2015/07/bpplas-5100-shinning-stone-to-be-shine.html

Posted by rikki > 2015-07-31 12:37 | Report Abuse

Bpplas : The Edge Insider Stock Pick with Zero Borrowing, Cash RM59m, Reserve RM57m & Cash Flow From Operation RM31m

Current Year Prospect :

The Group anticipates that more sustainable gradual economy recovery from USA, UK and Europe zone couple with lower crude oil price would improve advance nations consumer disposable income and confidence to improve global demand.

However, anticipated but uncertain timing of US Federal Reserve interest rate increase couple with the rebounding crude oil price have triggered volatile foreign exchange rate against Ringgit Malaysia.

In addition, many scheduled and unscheduled shut down of cracker plants have affected the supply of polyethylene resin and elevated the resin prices to decouple it with the crude oil price.

The Board takes cognizant the above factors could affect the demand, raw material input cost and the group performance. The Group would closely monitor the situations and implement various measures to deliver sustainable profit.

The Group is pleased to inform that the commissioning of new equipment is on schedule and anticipated to be operational from June 2015 and this will increase our production capacity. With the continuing efforts to improve on cost management and enhancement of additional production capacity, barring any unforeseen circumstances, the Group endeavours to deliver a satisfactory performance in the financial year ending 31 December 2015.

Source : Q1 Report

Posted by rikki > 2015-08-01 00:14 | Report Abuse

Sam Malaysia invests RM190m to increase production

SAM Engineering  and  Equipment (M) Bhd (SAM Malaysia) is reinvesting another US$50 million (RM190 million) on new machines to produce components for the aviation sector. 

SAM Chairman, Philip Yeo, said over the last few years, SAM Malaysia has bought new engines and these would require additional investment about US$50 million.

"We have just approved the purchase of four more machines and we are also looking to hire between 250 and 300 engineers and machinists over the next two years," he said.

Yeo said this to reporters at the signing of the agreement by Penang Development Corp (PDC), Temasek Holdings and Economic Development Innovation Singapore for the development of a BPO (business process outsourcing) prime project here on Friday.

Penang Chief Minister, Lim Guan Eng, witnessed the signing ceremony.

Yeo said the group's new manufacturing facility in Bukit Minyak has produced the engine nacelle beams for the latest aircraft from Boeing, B787 Dreamliner.

"We are currently producing components for some of the worlds major aviation players including Boeing and Airbus," he said.

SAM Malaysia is the country's only high-precision engineering company producing complex aero-engine parts for commercial aircraft.

Its unit, Aviatron (M) Sdn Bhd, produces nacelle major machined parts for entry-into-service aircraft.

Earlier, Lim said, the RM1.3 billion BPO prime project would represent the prime business hub in Malaysia's Multimedia Super-Corridor at Penang Cyber City 1 covering a minimum of 1.6 million sq ft.

The project will be built on 2.7 hectares where the PDC office is currently located in Bayan Baru and the construction of the project is expected to start in 2016 and be completed by 2019.- Bernama

Posted by rikki > 2015-08-01 19:56 | Report Abuse

Puerto Rico will fail to make Aug.1 payment, signaling default

Puerto Rico will miss a payment on debt due Aug. 1, the governor's chief of staff said on Friday, an event that will be considered a default by investors as the commonwealth lurches towards what could be one of the largest U.S. municipal debt restructurings in history.

The missed payment will mark the first default by the commonwealth and shows the depth of the island's economic and cashflow problems. Puerto Rico Governor Alejandro Garcia Padilla shocked investors in June when he said the island's debt, totaling $72 billion, was unpayable and required restructuring.

According to a 2014 bond offering statement, Puerto Rico has never defaulted on the payment of principal or interest of debt.

"Tomorrow is Aug. 1 and we don't have the money," Victor Suarez, chief of staff for Puerto Rico's governor, told journalists in San Juan, referring to a $58 million payment due on Public Finance Corporation (PFC) bonds.

"The PFC payment will not be made this weekend," Suarez said. "It was not consigned."

The island faces a number of debt payments due Aug. 1 but had signaled in recent weeks that it may miss the PFC payment.

The non-payment would be the most notable since Detroit, which had about $8 billion of bonds, defaulted on $1.45 billion of insured pension bonds before it filed for bankruptcy in 2013.

"What could surprise investors is when they actually hear the word 'default,' and that a default occurred," said Lyle Fitterer, head of tax-exempt fixed income at Wells Capital Management, which holds mostly insured Puerto Rico debt.

"The immediate reaction might be a slight sell-off in the marketplace because I think people will start to anticipate, 'OK, what's the next series of debt they're going to default on?'"

PFC bonds have weaker protections than many other Puerto Rico bonds and the skipped payment had been signaled to investors over the past few weeks. Suarez said on Monday that the commonwealth did not have the current cash flow to pay the PFC bonds.

"I bought my (PFC) bonds with the anticipation of them defaulting," said Ben Eiler, managing partner at First Southern Securities in Puerto Rico, earlier this week. "They're going to restructure in some form or fashion, and I believe that restructure is going to be higher than that level."

However, Puerto Rico is making another debt payment due. The head of its Government Development Bank (GDB), President Melba Acosta, said in a statement released Friday that the bank would make a $169 million payment for the debt service on GDB debt.

http://mobile.reuters.com/article/idUSKCN0Q51V720150801?irpc=932

Posted by rikki > 2015-08-03 07:04 | Report Abuse

BURSA Likely To Trend Sideways Next Week
By Nurul Hanis Izmir

Bursa Malaysia is likely to trend sideways next week with the benchmark index continuing to be confined within the 1,700 points and 1,740 points range, says Affin Hwang Investment Bank Vice-President and Head of Retail Research Datuk Dr Nazri Khan.

“Given the deep price correction over the last six weeks, the FTSE Bursa Malaysia KLCI (FBMKLCI) should be more attractive for long-term investors,” he told Bernama.

Nazri said it was timely now for traders to consider bottom-fishing stocks, especially the bashed down big caps from FBMKLCI, which were trading near their respective 52-week low.

He also said that the ringgit, which hovered around the 3.80 level, welcomed investors to buy Malaysian assets.

Prime Minister Datuk Seri Najib Tun Razak on Wednesday announced a Cabinet reshuffle to ensure a smooth administration and national development.

“Minister of International Trade and Industry Datuk Seri Mustapa Mohamed, who maintained his portfolio, said Malaysia will not sign the Trans-Pacific Partnership Agreement.

“This signals that the Bumiputera agenda will be safeguarded against unfair foreign competition,” Nazri added.

On a weekly basis, the benchmark FTSE Bursa Malaysia KLCI finished at 1,723.14, up 2.38 points, on a technical rebound following bargain hunting activities.

Weekly turnover rose to 9.01 billion units worth RM9.36 billion from last week’s 8.35 billion units worth RM7.93 billion.

Main market volume expanded to 5.84 billion units valued at RM8.53 billion against 5.34 billion shares valued at RM7.07 billion recorded
last week - Bernama

Posted by rikki > 2015-08-03 08:20 | Report Abuse

Japanese, South Koreans may buy stake in Century Logistics

Century Logistics Holdings Bhd is in talks with parties from South Korea and Japan looking for a strategic tie-up for access into the Malaysian market, sources say.

The deal, sources said, may include equity participation by one of these foreign parties into the Malaysian integrated logistics services provider, although it is unclear how big a stake could be involved.

Century Logistics has seen its share price rise by some 15% since mid-July, bucking the bearish trend of the overall market to close Friday at RM1.07 for a market capitalisation of RM397.52 mil.

The company was previously in talks with Felda Global Ventures Holdings Bhd (FGV), but that deal did not materialise.

Since then, the company has seen its earnings grow. For the first quarter ended March 31, 2015 it made a net profit of RM7.47mil as compared to RM6.32mil in the same period before. Revenue, meanwhile, came in at RM71.91mil from RM69.06mil previously.

Kenanga Research in a recent report projected the company to post a core net profit growth of 36.2% in financial year 2015. For the following financial year, it expects a 9.8% growth, before new capacity from expansion kicks in by 2017

http://www.thestar.com.my/Business/Business-News/2015/08/03/Logistics-tieup/?style=biz

Posted by rikki > 2015-08-03 11:18 | Report Abuse

Stock With Momentum: BP Plastics Holding

BP Plastics (Fundamental: 2.5/3, Valuation: 1.4/3) was first featured as InsiderAsia’s Stock of the Day last November. The stock has since risen by 24.5% to close at a 3-year high of 99.5 sen last Friday.

For 1Q2015, despite a 7.7% y-o-y decline in revenue to RM66.8 million, net profit grew 7.3% to RM3.4 million, boosted by lower resin costs.

One of the largest polyethylene (PE) film manufacturers in Asia, BP Plastics supplies stretch films, shrink films and other PE packaging films and bags to 51 countries. Export accounted for some 78% of sales in 2014.

It has a debt-free balance sheet with net cash of RM58.5 million at end-March, or 32.6% of its market capitalisation.

The company has a history of rewarding shareholders with dividends. Dividend for 2014 totalled 6 sen per share, giving an above-market yield of 6.0%. Last month, it paid a special dividend of 2 sen for 2015.

http://www.theedgemarkets.com/my/article/stock-momentum-bp-plastics-holding

Posted by rikki > 2015-08-03 11:39 | Report Abuse

Rubber glove stocks rise on weakening ringgit, positive prospects

Rubber glove stocks were on the rise during the morning trading session, as investors capitalised on export-oriented stocks after the ringgit touched its 16-year low on July 31 against the greenback.

At 11.12am, Supermax Corp Bhd ( Financial Dashboard) (fundamental: 1.0; valuation: 0.8) gained 5 sen or 2% to RM2.51, with some 9.2 million shares exchanged. The counter earlier rose as much as 21 sen or 8.5% to reach a high of RM2.67.

Top Glove Corp Bhd (fundamental: 2.5; valuation: 1.1) rose 8 sen or 1.1% to RM7.70, with 333,300 shares exchanged, and had earlier gained 14 sen or 1.8%, touching a high of RM7.76.

JF Apex Securities Bhd analyst Jessica Low said the weakened ringgit coupled with the positive prospects on rubber glove players has supported the gains in the counters today.

“The weakened ringgit has definitely supported the rise in rubber glove stocks today. Besides that, the positive prospects on the sector is also a factor, as demand for rubber gloves is stabilising, thus lessening worries of a supply glut,” she told theedgemarkets.com.

She added that the price of natural rubber latex is also lower, translating to lower raw material costs for rubber glove companies.

Meanwhile, another analyst noted that rubber glove stocks have been benefiting from the weakening ringgit since the start of 2015.

“Stocks like Supermax and Top Glove have been on the rise since earlier this year when, the ringgit started to weaken against the US dollar,” he said.

However, he said that the rise in share prices today is not just due to foreign exchange reasons, but added that it may have more to do with the brighter prospects for rubber glove stocks going forward.

“Some research houses have upgraded their ratings on some of the rubber glove stocks, so that could have more impact on the share prices of these stocks,” said the analyst.

The ringgit touched its 16-year intraday low of RM3.8405 against the US dollar on July 31, as uncertainties surrounding Malaysia’s political environment weighed on investor’s sentiment that is already flagging from the protracted slump in crude oil prices.

According to Bloomberg data, the ringgit was trading at RM3.8345 against the greenback, while Brent Crude and West Texas Intermediate (WTI) Crude Oil indices fell 0.68% and 0.73% to US$51.83 and US$46.80 respectively.

http://www.theedgemarkets.com/my/article/rubber-glove-stocks-rise-weakening-ringgit-positive-prospects

Posted by rikki > 2015-08-03 22:01 | Report Abuse

Malaysia’s ringgit takes a wild ride

Malaysia's currency, already under pressure from a political scandal and the oil price drop, really fell out of bed Monday, with the ringgit falling nearly 1 percent.

The central bank, Bank Negara Malaysia (BNM), has been intervening in the market to support the currency, but analysts said those efforts may be stumbling.

"(The central bank) can't hold the level of the currency where it is, given that their reserves have been declining. Now maybe they're starting to throw the towel," Khoon Goh, senior foreign-exchange strategist at ANZ, told CNBC Monday, noting he hadn't expected the currency to hit the 3.85-handle until next year.

http://www.cnbc.com/2015/08/03/malaysias-ringgit-takes-a-wild-ride.html

Posted by rikki > 2015-08-04 09:38 | Report Abuse

Global semiconductor sales up 3.9% y-o-y in 1H15 to US$84b, says SIA

KUALA LUMPUR (Aug 4): Global semiconductor sales rose 3.9% year-on-year in the first half of 2015 to US$84 billion, according to the US-based Semiconductor Industry Association (SIA).

In a statement on its website August 3, the SIA said global sales for the month of June 2015 reached US$28.0 billion, an uptick of 2% over the June 2014 total of US$27.4 billion and a decrease of 0.4% from July’s total of $28.1 billion.

All monthly sales numbers are compiled by the World Semiconductor Trade Statistics (WSTS) organisation and represent a three-month moving average.

SIA president and CEO John Neuffer said macroeconomic headwinds and softening demand had slowed global semiconductor market growth somewhat, but the industry still posted its highest-ever second-quarter sales and remains ahead of the pace of sales set in 2014, which was a record year for semiconductor revenues.

“The Americas market continues to post solid year-to-year sales increases, and the global market has now grown on a year-to-year basis for 26 consecutive months,” he said.

The SIA said that regionally, sales increased compared to June 2014 in China (7.8%), the Americas (5.6%), and Asia Pacific/All Other (5.2%), but fell in Europe (-11.5%) and Japan (-13.6%).

It said sales were up slightly compared to last month in Japan (1.0%) and China (0.6%), but down somewhat in Asia Pacific/All Other (-0.6%), the Americas (-1.6%), and Europe (-1.7%).

The SIA said sales figures in Europe and Japan have been impacted somewhat by currency devaluation.

http://www.theedgemarkets.com/my/article/global-semiconductor-sales-39-y-o-y-1h15-us84b-says-sia

Posted by rikki > 2015-08-04 12:48 | Report Abuse

Rubber set for bear market as China slowdown worsens oversupply

(Aug 4): Rubber is poised to enter a bear market as a slowdown in China, the world’s largest consumer, is worsening a global glut amid rising shipments from producers.

Futures have dropped 20 percent from a 16-month high reached June 1. The contract for January delivery fell 1.7 percent to 194.1 yen a kilogram ($1,564 a metric ton) on the Tokyo Commodity Exchange by 1:04 p.m. in Tokyo. A drop of 20 percent or more from this year’s closing peak will meet the common definition of a bear market.

China’s auto association cut its forecast for vehicle sales last month amid a stock-market rout that threatens to dent consumer sentiment. The final reading on a private Chinese factory index on Monday shrank more than expected, while an official gauge on Saturday slid to a five-month low, stoking concern that the worsening slowdown will hamper global trade.

“A global surplus is widening as demand in China shows no signs of picking up, and Thailand and Vietnam are boosting shipments regardless of low prices,” said Kazuhiko Saito, an analyst at Fujitomi Co., a broker in Tokyo.

The global rubber surplus may reach 303,000 tons this year, the International Rubber Study Group said by e-mail July 30, revising its January forecast of a 77,000-ton glut.

The Singapore-based IRSG estimates supply may grow 4.4 percent to 12.6 million tons this year, compared with last year’s 1.5 percent drop. Demand is forecast to rise 1.2 percent to 12.3 million tons, slower than last year’s 6.7 percent expansion, the group said.

Rubber supply may grow a further 2.9 percent in 2016 driven by the maturing of trees that were planted when prices were higher, according to the group.

Rubber exports by Thailand, the biggest producer, rose 1.3 percent from a year earlier to 1.72 million tons in the first six months of 2015, according to the nation’s commerce ministry. Shipments by Vietnam, the third-largest producer, expanded 16 percent to 531,000 tons in the first seven months, according to the nation’s general statistics office.

Rubber on the Shanghai Futures Exchange entered a bear market on July 8, and fell 2 percent to 12,170 yuan ($1,960) a ton Tuesday.

http://www.theedgemarkets.com/my/article/rubber-set-bear-market-china-slowdown-worsens-oversupply

Posted by rikki > 2015-08-06 07:50 | Report Abuse

Our top picks for the last quarter of 2015
Posted in Uncategorized on 05/08/2015

We like food manufacturing, climate changed related, healthcare related, technology and recently added cosmetics.  Priority will be given to these segment for any consideration in further investment.

As Ringgit continues weaken due to estimated FED rate hike and 1MDB issues.  We pick AUD as the best investment target as of now.  AUD hovering between RM 2.78 to 2.98 for the past few months.  We suggest real estate investment in Australia may be the best option to park you AUD.

We like Kawan Food, Cypark, Alaqar REIT, Apex Healthcare and EIG.  MNRB, MBSB, KSL remained our hold position.  We may buy more if price dip

- JJ Investment Co

Posted by Tessa Joseph > 2015-08-06 12:01 | Report Abuse

hi all

come come visit la
http://superawesomedeals.com.my/

Posted by YS Babe > 2015-08-06 12:06 | Report Abuse

apa kahabar semua? sa, actress mana depan page tu ek

Posted by Tessa Joseph > 2015-08-06 12:08 | Report Abuse

my picture, 20 years ago LOL. yesterday I buat online using funny frame LOL

Posted by YS Babe > 2015-08-06 12:10 | Report Abuse

o ya ke? aku klik image dapat tengok besau punya

Posted by Mark T Bird > 2015-08-06 13:24 | Report Abuse

I know what I saw and I saw the lady!

hohoho

Posted by Tessa Joseph > 2015-08-06 15:07 | Report Abuse

YS, you can visit here
https://m.photofunia.com/categories/professions

have fun!

Posted by YS Babe > 2015-08-06 16:31 | Report Abuse

hehehe best!

Posted by rikki > 2015-08-06 19:36 | Report Abuse

Ringgit leads Asia declines as reserves seen below $100 billion

(Aug 6): The ringgit led losses in Asia on speculation Malaysia’s foreign-exchange reserves dropped below $100 billion in July for the first time since 2010.

The holdings slid 13 percent this year to $100.5 billion as of July 15, fueling speculation Bank Negara Malaysiaintervened to halt the currency’s slide to its weakest level since 1998. Macquarie Bank Ltd. predicts data on Friday will show the reserves sank to $96.5 billion by the end of last week and Societe Generale SA said today it expects the central bank to stop defending the exchange rate at about the $90 billion mark.

“The market is probably getting nervous because reserves are expected to fall below the psychological $100 billion mark,” said Nizam Idris, the Singapore-based head of foreign- exchange and fixed-income strategy at Macquarie Bank, the second-most accurate forecaster for the ringgit in the four quarters to June.

The currency weakened 0.6 percent to close at 3.9023 a dollar in Kuala Lumpur, prices from local banks compiled by Bloomberg show. That’s the lowest since September 1998 when it reached 3.9340. The dollar’s 14-day relative-strength index climbed to 82, holding above 70 for a fourth day, a level that signals the greenback may be poised to reverse direction.

Societe Generale cut its third-quarter ringgit forecast to 4.10 from 3.80, and the year-end estimate to 3.90 from 3.70, strategists Jason Daw and Frances Cheung wrote in a report Thursday. They said the central bank is unlikely to try and protect 4 per dollar after failing to defend 3.8 in July, the level it was pegged at in 1998.

A slump in Brent crude, a political scandal involving Prime Minister Najib Razak and the prospect of higher U.S. interest rates have all helped to spur the ringgit’s 10.6 percent loss this year.

Bonds Fall

The $100.5 billion reserves are enough to finance 7.9 months of retained imports and are 1.1 times short-term external debt, according to a central bank statement issued when the figure was released on July 23. While the import-cover ratio has fallen over the years, it remains well above the generally accepted benchmark of three months, the Societe Generale strategists wrote.

Malaysia’s 10-year government bonds declined, with the yield rising seven basis points to 4.14 percent, according to Bursa Malaysia prices. That’s the highest level since June 8 and the biggest increase in two months.

http://www.theedgemarkets.com/my/article/ringgit-leads-asia-declines-reserves-seen-below-100-billion

Posted by Ny036 > 2015-08-06 19:44 | Report Abuse

Will there be a panic sentiment especially on economy n business when rm hit rm4? Understand many unwilling to sell usd or yuan n sing dollar.

Posted by rikki > 2015-08-06 21:25 | Report Abuse

Hibiscus Petroleum buying 50% stake in Anasuria cluster for nearly RM200m

Hibiscus Petroleum Bhd’s indirect unit, Anasuria Hibiscus UK Ltd has proposed to acquire a 50% interest in the Anasuria cluster in the North Sea for US$52.5mil (RM199.1mil) cash.

Hibiscus Petroleum, the country’s first SPAC, said Anasuria Hibiscus, together with Ping Petroleum UK Ltd had signed the conditional sale and purchase agreements in relation to the proposed acquisition with Shell U.K. Ltd and Shell EP Offshore Ventures Ltd as well as Esso Exploration and Production UK Ltd.

The proposed acquisition involves Anasuria Hibiscus acquiring a 50% interest in the Anasuria Cluster. Concurrently, Ping Petroleum UK Ltd will be acquiring the remaining 50% interest.

The Anasuria Cluster is about 175km east of Aberdeen in the UK Central North Sea. It comprises of a geographically focused package of operated producing fields and associated infrastructure.

They include 100% interest in the Guillemot A field, 100% interest in the Teal field, 100% interest in the Teal South field, 38.65% interest in the Cook field and 100% ownership in the common infrastructure known as the Anasuria Floating Production Storage and offloading unit and the related equipment.

Shell UK and Esso currently have 50% interest each in Guillemot A Field, Teal Field and Teal South Field. Shell EP has 12.88% stake in Cook Field while Esso has 25.77% stake. 

Hibiscus Petroleum said an initial consideration of US$60mil (RM227.6mil), of which a deposit of US$8mil (RM30.3mil) was paid upon the execution of the agreements.

The combined total purchase consideration was of US$105mil (RM398.3mil) 

“Hibiscus Petroleum intends to fund Anasuria Hibiscus’ portion of the initial consideration (US$30mil or RM113.8mil) through a loan facility and internally generated funds from the Anasuria Cluster,” Hibiscus Petroleum said in the filing with Bursa Malaysia. 

Hibiscus Petroleum said the proposed acquisition was not expected to give rise to any additional financial commitment by the Hibiscus group to put the operations of the Anasuria Cluster on-stream as the Anasuria Cluster was already producing oil.

“However, in order to maximise the value of the Anasuria Cluster, additional capital will be required to extend the life of the Anasuria FPSO and subsea facilities, drill and complete new wells and workover of existing wells,” it added. 

In addition, Hibiscus Petroleum said business, revenues and profit derived from the Anasuria Cluster would be substantially dependent upon the prevailing prices of, and demand for, oil and gas (O&G).

“The markets for O&G are volatile in nature and this is expected to continue in the future. Any potential fluctuation in  the  price  of O&G may  adversely  affect  the  business, revenues and profits of the Anasuria Cluster,” it said. 

As the proposed acquisition is expected to be completed by the first quarter of 2016, it is expected to contribute  positively to the  earnings  of  the Hibiscus  Group for  the financial year ending June 30, 2016.

Hibiscus has earlier requested for a suspension in the trading of its shares. Hibiscus Petroleum shares were up 1.5 sen to 86.5 sen before trading was suspended.

http://www.thestar.com.my/Business/Business-News/2015/08/06/Hibiscus-Petroleum-buying-50pct-stake-in-Anasurai-cluster/?style=biz

Posted by TengkuFaisal > 2015-08-06 21:26 | Report Abuse

terrible company. PN17 candidates..

Posted by rikki > 2015-08-07 20:02 | Report Abuse

Market Outlook as at August 7, 2015

This morning, FBMKLCI broke below its past 1 month low of 1685. It is now struggling to stay above the line connecting the lows for the past 1 year (AB) at 1680. As at 3.00pm, this support is holding and hopefully we can see a rebound at the close. The fact that there has not been a strong rebound yet, is discomforting. Why?

If you look at the monthly chart below, you will see that the line, AB is no ordinary line. It is the neckline of a Head-and-shoulder formation- one of the more reliable reversal pattern. The last time we saw a Head-and-shoulder reversal was in 2008. We are now staring at a similar set-up and if the index breaks below 1680, we will have a confirmed Head-and-shoulder reversal with a downside target of 1480.

Meanwhile, the DJIA has broken its uptrend line. Its MACD indicator is poised to venture into negative territory. When that happens, we should be seeing the start of a downtrend for DJIA.

http://nexttrade.blogspot.com/2015/08/market-outlook-as-at-august-7-2015.html?m=1

Posted by YS Babe > 2015-08-08 16:39 | Report Abuse

HitMAN! apa kipidap? heehehee

aku skrg boring dengan bursa, asyik main link tessa kasi, kejab pakai sari, kejab pakai baju opera, kejab main hockey, heeheehee

Posted by Hitman > 2015-08-08 16:59 | Report Abuse

Mama YS, hehehe kipidap utk kerja keras rikki,..sama la, tp xreti nk buat tukar2 gambar..
Sa, blh tlg buat x? just ambil gmbr Jhonny Depp tukar situ..hehe

Posted by YS Babe > 2015-08-08 17:24 | Report Abuse

gambar johnny dep buat pe, bagi kat aku gambar awak ler, aku boleh tolong buat, tak payah Sa. Sa, skrg tengah perang dengan....heeeheheee

Posted by rikki > 2015-08-08 18:31 | Report Abuse

China's July exports slump 8 percent, raises pressure for more stimulus

BEIJING/SHANGHAI (Reuters) - Chinese exports tumbled 8.3 percent in July, their biggest drop in four months and far worse than expected, reinforcing expectations that Beijing will be forced to roll out more stimulus to support the world's second-largest economy.

Imports also fell heavily from a year earlier, in line with market forecasts but suggesting domestic demand might be too feeble to offset the weaker global demand for China's exports.

Economists had forecast exports to fall just 1 percent, after a 2.8 percent uptick in June, but the data on Saturday showed depressed demand from Europe and the first drop in exports to the United States, China's biggest market, since March.

Exports to the European Union fell 12.3 percent in July while those to the United States dropped 1.3 percent. Demand from Japan, another big trading partner, slid 13 percent.

"A recovery in external demand remains far off and economic growth will continue to rely on domestic demand, which implies policies should continue to be relaxed in the second half," wrote Qu Hongbin, China economist at global bank HSBC.

Imports fell 8.1 percent, according to the data from the General Administration of Customs. That compared with forecasts for an 8 percent drop, after a 6.1 percent decline in June, though these falls also reflected weaker commodity prices.

http://mobile.reuters.com/article/idUSKCN0QD03320150808?irpc=932

Posted by saschl > 2015-08-08 18:51 | Report Abuse

O! Gosh, when will bad news stops coming and let's have some good news?

Posted by apanama > 2015-08-08 21:32 | Report Abuse

The good news is after Najib finally 'resign'..:)

Posted by rikki > 2015-08-11 08:31 | Report Abuse

Maybank IB sees investment opportunities amid market volatility

KUALA LUMPUR (Aug 10): Despite the current internal and external headwinds, Maybank Investment Bank Bhd (Maybank IB) sees investing opportunities amid current weak sentiment.

Maybank IB opined that the capital market will remain volatile.

The external headwinds included the debt crisis in Greece, growth risk in China and the prospects of the US interest rate hike.

In a statement today, the investment bank said its year-end target for FBM KLCI is 1,830 points and forecast the full year 2015 gross domestic product growth to stand at 4.9% compared with 6% in 2014.

According to Maybank IB, the market is expected to slowly improve in the mid and longer term as fund outflows should stabilise by year end and corporate earnings are also expected to recover.

Despite the uncertainties, Maybank IB said there are still trading windows, and investors adopting the right investment strategies may still profit from the current market.

"Investors are advised to remain defensive in the near term and invest based on selected themes," Maybank advised.

Maybank IB has an "overweight" call on construction stocks which are expected to benefit from the continued investment in infrastructure projects.

The company also has an "overweight" call on glove producers and technology stocks which will benefit from the strengthening of the US dollar against the Malaysian ringgit.

It added that plantation stocks, which are currently rated "neutral", may be rerated if a strong El Nino pans out.

Maybank IB's top 10 stock picks are Axiata Group Bhd ( Financial Dashboard), Gamuda Bhd ( Financial Dashboard), NCB Holdings Bhd ( Financial Dashboard), Cahya Mata Sarawak Bhd (CMSB) ( Financial Dashboard), Harbour Link Group Bhd ( Financial Dashboard) and Top Glove Corporation Bhd ( Financial Dashboard) for growth play, Malakoff Corp Bhd for yield play, and Hock Seng Lee Bhd ( Financial Dashboard), Hong Leong Financial Group Bhd ( Financial Dashboard) and Tenaga Nasional Bhd ( Financial Dashboard) for value play.

Shares in Malayan Banking Bhd decreased 16 sen or 1.79% to close at RM8.80 today, bringing its market capitalisation to RM85.47 million.

Posted by rikki > 2015-08-12 19:25 | Report Abuse

Ringgit, Singapore dollar most vulnerable to yuan devaluation, says Standard Chartered

KUALA LUMPUR (Aug 12): The Malaysian ringgit and the Singapore dollar (SGD) are the most vulnerable currencies to the devaluation of the yuan, said Standard Chartered Research.

Malaysia, besides the Philippines, also has the highest exposure to China in terms of exports and so is most exposed to the weakness of the yuan, the research house said in a report today.

In terms of imports from China, the research firm said it expects a greater negative impact on the Singapore dollar and the Philippines peso (PHP), as the central banks in those countries are already struggling with low inflation and deflation.

“A deflationary impulse would likely add to the pressure on the central banks to ease policy,” the report stated.

Yesterday, the People’s Bank of China (PBoC) has announced a one-off devaluation of the Chinese yuan, allowing it to weaken by nearly 2%.

Today, the yuan tumbled 1.9%, sparking the biggest two-day selloff in Asian currencies since 1998 and fueling concern that financial-market volatility will curb global economic growth, Bloomberg reported.

In another report, the news agency, quoting former International Monetary Fund (IMF) economist Stephen Jen, said emerging markets such as Indonesia and Malaysia are likely to be hardest hit by the devaluation of the yuan due to the countries being commodity exporters, which relies on demand from China.

The ringgit, weighed down by the devaluation of the yuan, has surpassed the 4.0000 level and is currently trading at 4.0275 against the US dollar, the first time such levels are seen since the height of the Asian Financial Crisis in 1998.

The devaluation of the yuan also exacerbated the slump of the FBM KLCI, with the index closing down 26.78 points or 1.64% at 1,609.93. It had earlier gone down over as much as 33.45 points to reach 1,603.26.

http://www.theedgemarkets.com/my/article/ringgit-singapore-dollar-most-vulnerable-yuan-devaluation-says-standard-chartered

Posted by yongyou > 2015-08-12 19:31 | Report Abuse

Bro Rikki, thanks for sharing

Posted by Mark T Bird > 2015-08-12 19:43 | Report Abuse

:(

Kuala Lumpur Stock Exchange

Public Bank fell 28 sen to RM18.20 and erased 3.49 points from the KLCI. HLFG fell 62 sen to RM14.38, Hong Leong Bank 38 sen to RM12.80, RHB Cap 25 sen to RM6.71, AmBank 21 sen to RM5.05 while Maybank and CIMB fell 11 sen each to RM8.41 and RM4.94. Tenaga lost 20 sen to RM1.08 and erased 1.95 points from the KLCI while IHH Healthcare shed 15 sen to RM5.68 and Genting Malaysia 18 sen to RM3.79. Consumer stocks also fell, with Dutch Lady down RM1 to RM46, GAB 40 sen to RM13.08 but BAT added 86 sen to RM62.88. Petronas Daganagan lost 26 sen to RM20.32, Petronas Gas 10 sen lower at RM21.48 while Petronas Chemicals was flat at RM5.98. KL Kepong lost 24 sen to RM21.24, PPB Group 18 sen to RM15.12 and IOI Corp two sen lower at RM4.03. Sime Darby lost 12 sen to RM8.04.

copy from Tessa's website

Posted by YS Babe > 2015-08-12 23:19 | Report Abuse

laaaa aku penat cari mana awak dapat tu, rupanya kat webpage So…..?
hehehehe


KUTNAIK AND KUTPAI

Posted by rikki > 2015-08-13 08:11 | Report Abuse

Winners and losers

PETALING JAYA: The steep decline in the value of the ringgit is not bad news for everyone.

Export-oriented sectors such as rubber product manufacturers, semiconductor firms and furniture producers are prime beneficiaries because their production costs are mainly in ringgit while sales are in US dollars.

However, analysts cautioned that while the US dollar would have a positive impact on companies’ bottom lines, it would not translate into higher demand.

“The currency depreciation does not translate into higher demand,” said an analyst.

Malaysian rubber product manufacturers, namely, Top Glove Corp Bhd, Supermax Corp Bhd, Hartalega Holdings Bhd and condom manufacturer Karex Bhd are among the beneficiaries of the strong US dollar. Conversely, the input costs for these manufacturers are in ringgit terms.

About 90% of Malaysian rubber product manufacturers’ sales are in US dollars, while most of the cost such as raw materials,labour and electricity are in ringgit.

“We expect Malaysian glove makers to further gain global market share as has been in the past four years,” says AllianceDBS Research in a recent report.

Nevertheless, analysts cautioned investors because the benefits of the weak ringgit for this sector had been priced in.

For the semiconductor sector, while overall demand for electrical and electronic products is slowing down, players will see an improvement in their bottomlines due to the stronger US dollar.

According to a Hong Leong Investment Bank (HLIB) Research report in June, about 75% of Vitrox Corp Bhd sales are in US dollars and 30% of its costs are in US dollar terms, which mitigate the company’s exposure to its US dollar loans.

“Our sensitivity analysis suggests that every 1% change in the ringgit against the US dollar rate will impact Vitrox’s bottomline by 2%,” said Maybank Investment Bank Research.

The losers of the weaker ringgit are companies which import their raw materials in US dollars but sell the products in ringgit, and those with exposure to US dollar debt.

For the auto sector, the stronger US dollar will have a negative impact on certain players, such as UMW Holdings Bhd and Tan Chong Motor Holdings Bhd, according to Kenanga Research in a recent report.

“These companies have high denominated US dollar costs due to the import of completely-built-up vehicles, completely-knocked-down packs and other components, which will continue to corrode their profitability.

“Our sensitivity analysis suggests that for every 1% fluctuation in the US dollar from our base case, UMW’s bottomline could be affected by 3%.”

For Tan Chong, Kenanga Research said that for every 1% fluctuation in the US dollar, the company’s bottomline could be affected by 6%.

Meanwhile, the research house is positive on Berjaya Auto Bhd, as around 50% of its total cost is exposed to the Japanese yen.

“Based on our sensitivity analysis, every 1% drop in the yen will have a positive impact on the group’s 2016 net profit by 5%.”

Meanwhile, aviation players are at risk because of the borrowings in US dollars to fund the aircraft and parts.

The fuel cost could also be a burden, depending on the airline’s hedging strategy.

The Brent crude has fallen 13.88% year-to-date, while the ringgit has slid 13.33%.

For AirAsia Bhd, 80% of its debt is exposed to the greenback.

But HLIB Research said in a report that the low-cost carrier has hedged 70% of its foreign debt.

The impact of the stronger US dollar on telecommunications operators varies.

Time dotCom Bhd (TdC) is a beneficiary, as sales from its global bandwidth services, which forms 10% of its business, is in US dollars.

“Although TdC has US dollar debt, it is a small amount, and thus, has immaterial negative impact,” HLIB Research said.

The impact on DiGi.Com Bhd is neutral and it does not have borrowings in US dollars.

About 22% of Telekom Malaysia Bhd’s borrowings as of the first quarter were in US dollars, while Maxis Bhd’s and Axiata Group Bhd’s exposure to US dollar debt was at 32% and 44%, respectively, according to HLIB Research.

The weaker ringgit is also negative for Astro Malaysia Holdings Bhd, as about 70% of its content cost is in US dollars, while the receipts are in ringgit, said HLIB Research.

http://www.thestar.com.my/Business/Business-News/2015/08/13/Winners-and-losers/?style=biz

Posted by rikki > 2015-08-13 08:20 | Report Abuse

USD-MYR: Does It Ring A Bell?

Yesterday, our Ringgit weakened further. The USD:MYR exchange rate surpassed the psychological 4.00 mark momentarily before closing at 3.98357.

From the long-term chart, we can see that the USD:MYR exchange rate has a strong resistance at 3.80. The 3.80 level - which is much more significant than the 4.00 mark - was violated in early August. This breakdown plus the test of the psychological 4.00 mark are clear signs of the bearishness of our Ringgit. There is strong probability that we may revisit the high of 4.20-4.30 recorded during the Asian Financial Crisis in 1997-1998. Except for the political crisis, Malaysia is in a much stronger footing now than 1997-1998. If our present political crisis can be resolved quickly - I suspect it will - then we may see a sharp reversal in our exchange rate. If that were to happen, our stock market will enjoy a big boost!

http://nexttrade.blogspot.com/

Posted by rikki > 2015-08-13 14:29 | Report Abuse

Market Outlook as at August 13, 2015

Market is rebounding. FBMKLCI found support near 1600 and is now at 1625 (up 16 points). To override the Head-and-Shoulder reversal, FBMKLCI must climb back above the neckline at 1680. The odd is stacked against this effort. The technical indicators are weak and the 10-month SMA line has cut below the 20-month EMA as well as nearly cutting below the 30-month EMA line. As noted in earlier post, when we saw this moving average crossovers in the past (1997 & 2008), the market had entered into bear market. To make this herculean task more difficult, we have two ingredients that tend to roil any market: currency turmoil and political uncertainty. With that, I believe the appropriate strategy would be to reduce one's position as the prices crawl up.Good luck!

http://nexttrade.blogspot.com/

Posted by rikki > 2015-08-14 08:10 | Report Abuse

AllianceDBS Research 14/8/2015

Technical Buy - Luxchem @ 1.20
TP 1.30 - 1.50
Cut-Loss - 1.15

Posted by rikki > 2015-08-14 08:32 | Report Abuse

Bank Negara governor says economy expected to be resilient

Malaysia’s economy surprised in the second quarter by growing 4.9%, above the consensus figure of 4.5%. But economists warned that the next six months would be challenging.

Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz said the economy was expected to be resilient and remain on a steady growth path, buoyed by domestic demand.

However, global growth had become more vulnerable to increased downside risks, she said.

In the second quarter, private consumption slowed down, growing by 6.4% compared with 8.8% in the first quarter, as households adjusted to the impact of the goods and services tax (GST) which kicked in in April, while private investment growth came down to 3.9% from 11.7% earlier.

Gross exports declined by 3.7% compared with 2.5% the quarter before, mainly due to less export of commodities and resource-based manufactured products.

“Despite the sentiment, growth in consumption has still been favourable. We actually expected it to be lower because there was a lot of front loading in the first quarter,” Zeti told a packed press conference yesterday.

She said wage growth and stable labour market conditions would provide support to household spending, while investment activity would be supported by capital spending in the manufacturing and services sectors.

“In the case of investment activity, based on approval numbers, these have not declined. In fact, they have increased and, therefore, our anticipation is that investment activity will recover from current levels,” Zeti added.

“The second half is something we need to watch, it will be more challenging,” independent economist Lee Heng Guie said.

On the external front, a lot of it would depend on exports and at the moment, visibility was still quite low amid weak crude and palm oil prices, Lee said.

Citing the private consumption and private investment figures, which showed declines, Lee said such numbers were likely to continue into the third quarter, given that the current sentiment was being affected by the sliding ringgit and ongoing political uncertainties.

“Hopefully, there will be some rebound by the fourth quarter,” Lee said.

Malaysian Rating Corp Bhd chief economist Nor Zahidi Alias said going forward, the anaemic global trade performance would likely pose a challenge to Malaysia’s overall export performance.

“Declining commodity prices will likely bite into Malaysia’s net trade while consumer spending will likely continue to soften.”

After growing 5.6% in the first quarter, the economy expanded by 4.9% in the second quarter, supported by a turnaround in agricultural production, which grew by 4.6% compared with a contraction of 4.7% previously amid higher production of palm oil.

The services, manufacturing, mining and construction sectors all registered declines.

Headline inflation was higher in the second quarter, up by 2.2% compared with 0.7% earlier due to the implementation of the GST.

Zeti said that at the current level of overnight policy rate, monetary conditions remained supportive of economic activity.

The Monetary Policy Committee left its key lending rate unchanged at 3.25% at its last meeting in July.

As at July 31, the central bank’s international reserves had dipped below US$100bil – the first time since 2010, according to Bloomberg – to US$96.7bil.

“We will build it up again,” Zeti said.

The current level was sufficient to finance 7.6 months of retained imports, significantly higher than the three-month international threshold, she said.

http://www.thestar.com.my/Business/Business-News/2015/08/14/GDP-grows-above-forecast/?style=biz

Posted by rikki > 2015-08-15 18:14 | Report Abuse

More ringgit volatility seen after Bank Negara assures no capital control

Malaysia may have to contend with further currency volatility after Bank Negara Malaysia assured capital control measures were not on the cards to stem the ringgit's depreciation, digitaledge WEEKLY reported in its latest August 17-23 issue.

Yesterday, the ringgit weakened to a fresh level against the US dollar at 4.1270 after China devalued its currency and crude oil prices fell. Against the Singapore dollar, the ringgit depreciated to a new level at 2.9346.

China's move to devalue its currency led to expectation that other Asian central banks will do the same to ensure export competitiveness. The ringgit's strength correlates with crude oil prices as the commodity is a major component of the Malaysian economy and accounts for some 28% of government revenue.  

Following Bank Negara's assurance, digitaledge WEEKLY said : "This means the country has to brace for more ringgit volatility even as investors try to find their footing in the financial markets on the expectation of interest rate normalisation in the US."

The report by digitaledge WEEKLY followed a press conference by Bank Negara last Thursday in conjunction with the announcement of the country's second quarter economic numbers.

digitaledge WEEKLY quoted Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz as saying the central bank would continue with its existing flexible exchange rate system which allowed the country to adjust to external developments accordingly.

“We are not introducing capital controls. We’ve moved on from that because we have a more developed financial system (now), financial markets that are larger and able to absorb this kind of volatility. 

"We have also strengthened our financial intermediaries and they are better able to cope with it,” Zeti said.

http://www.theedgemarkets.com/my/article/more-ringgit-volatility-seen-after-bank-negara-assures-no-capital-control

Posted by Tessa Joseph > 2015-08-16 08:50 | Report Abuse

Happy Sunday to all

Hitman
1047 posts
Posted by Hitman > Aug 8, 2015 04:59 PM | Report Abuse

Mama YS, hehehe kipidap utk kerja keras rikki,..sama la, tp xreti nk buat tukar2 gambar..
Sa, blh tlg buat x? just ambil gmbr Jhonny Depp tukar situ..hehe

-----Ayoo u sendiri bikin lor, so kacang wat!

YS Babe
2191 posts
Posted by YS Babe > Aug 8, 2015 05:24 PM | Report Abuse

gambar johnny dep buat pe, bagi kat aku gambar awak ler, aku boleh tolong buat, tak payah Sa. Sa, skrg tengah perang dengan....heeeheheee

-----Perang? U mean with DSN ka? Yup I don't like that fella, he manages crisis badly, so bad klse jatuh duit jatuh because of him, the longer he duduk there, the more susah I'll be. So please be a gentleman and resign as PM.

My other war with the web crawler, so many bad crawlers, crawlers = hackers..so any crawlers yang hit more than 6, I blocked..those days I tot crawlers are good to get audience, but now I nampak the audience I get are hackers like duyun duyun....hmmm

Posted by Tessa Joseph > 2015-08-16 08:55 | Report Abuse

to those who want to visit my website please do
http://superawesomedeals.com.my/

i usually update my website like everyday just click on the web page you like to view


adios