Posted by Mark T Bird > 2016-03-11 14:30 | Report Abuse

https://docs.google.com/forms/d/1vuIKdnzoDln2d5_v07kz1vgUZByV4EILmecK7NjYh54/viewform?c=0&w=1

Posted by rikki > 2016-03-12 09:52 | Report Abuse

Can-One mulls sale of condensed milk ops

Can-One Bhd is in the process of disposing a stake in its dairy manufacturing business in a deal that values the asset around RM800mil, sources say.

Among the interested buyers for the stake is the private equity division of Malaysian civil service pension fund Kumpulan Wang Persaraan (Diperbadankan) (KWAP), which is in the process of a due diligence over the deal, the sources say.

KWAP declined to comment while Can-One has yet to reply to queries fromStarBizWeek. The planned stake sale is in Can-One’s wholly owned subsidiary F&B Nutrition Sdn Bhd, which manufacturers sweetened condensed, evaporated and flavoured milk for clients on an original equipment manufacturer or OEM basis.

Sources say that Can-One is seeking a valuation of up to 20 times earnings for F&B Nutrition, based on targeted profit after tax of RM42mil for the financial year 2015. This would value the business as high as RM840mil.

This is even bigger than Can-One current market capitalisation of RM695.6mil.

http://www.thestar.com.my/business/business-news/2016/03/12/canone-mulls-sale-of-condensed-milk-ops/

Posted by rikki > 2016-03-12 09:56 | Report Abuse

The fading beauty of SPACs

THE allure of making easy money from special purpose acquisition companies (SPACs) is now starting to wear out.

It is becoming more apparent that shareholders are buying into SPACs for its ‘technical rulings’ in protecting investors.

Investors are buying SPACs with the idea that they can almost make a risk-free return from arbitrage opportunities and the fact that any shareholders who votes a no, gets their money back.

Unless the share price of the SPACs convincingly stay above their respectively cash value (the amount which will be returned to shareholders if a QA is not made in the stipulated time), most shareholders will opt to get their money back rather than to vote for the QA to go through.

This is not helped by the fact that the majority of SPACs listed on Bursa Malaysia are in the oil and gas sector, a sector which investors are running away from.

Thus it wasn’t surprising that when Sona Petroleum Bhd and Reach Energy Bhd announced their qualifying assets in November 2015, and March this year, both their share prices hardly budged.

http://www.thestar.com.my/business/business-news/2016/03/12/the-fading-beauty-of-spacs/

Posted by rikki > 2016-03-12 10:00 | Report Abuse

Eye on stock: Yi-Lai

YI-LAI Bhd (Yi-Lai, 5048) dropped to a low of 79 sen on Jan 18, the worst level since June 2012 amid extended correction process due to persistent liquidation pressure.

The shares traded mostly range-bound for several weeks, undergoing consolidation before bouncing off in the wake of a fresh bout of bargain hunting buying momentum. This stock recovered to a one-year high of RM1.08 during intra-day session before paring gains to finish up eight sen to RM1.05.

Based on the daily chart, it appears Yi-Lai is in the infancy stage of a new leg of uptrend, with prices reclaiming the posture above all the moving averages on our screen after undergoing a period of correction.

An increase in the trading activities over the past three weeks added to our optimism.

Initial resistance is expected at the RM1.10 barrier, of which a successful penetration of this relatively stiff barrier would further confirm that this stock is indeed on the rise.

If that happens, the next upper target to look for would be the RM1.20 mark and if buying sentiment is strong enough, it may re-test the previous rally peak of RM1.39, established on Sept 25, 2014 or move to a higher ground. Elsewhere, the oscillator per cent K and the oscillator per cent D of the daily slow-stochastic momentum index were on the rise. Though the two oscillators were fast reaching the overbought area, they retained the buy call, triggered on March 3.

The daily moving average convergence/divergence (MACD) histogram expanded sharply against the daily signal line to keep the bullish note. It had issued a buy call on Feb 19. In stark contrast, the 14-day relative strength index hit a high of 82 on Thursday before curving down marginally to settle at the 79 points level yesterday.

Technically, the daily MACD is bullish but other indicators are painting a slightly overbought condition, suggesting investors can consider accumulating more should there be a pullback, as prices are poised to resume the scaling once the overbought situation is fully neutralised.

Current support is pegged at the 200-day simple moving average, which is lying at the 91 sen mark. An additional floor is pegged at the 87 sen level. – K.M. Lee

The comments above do not represent a recommendation to buy or sell.

http://www.thestar.com.my/business/business-news/2016/03/12/eye-on-stock-yilai/

Posted by rikki > 2016-03-12 10:06 | Report Abuse

TAS Offshore receives cancellation notice for two vessels

KUALA LUMPUR (March 11): TAS Offshore Bhd said it has received a notice from QMS1 Offshore Services Ltd to cancel contracts to build two units of anchor handling tug supply (AHTS) vessels.

In a filing with Bursa Malaysia today, TAS said its wholly-owned subsidiary, TA Ventures (L) Ltd, has received a notice of termination from QMS1, purporting to terminate the said shipbuilding contracts.

"TAS' position is that the purported notice of termination is not valid and the company intends to proceed with legal proceedings," it said.

Nevertheless, it warned that the purported termination of contracts is expected to have an impact on the company's results for the financial year ending May 31, 2016.

However, it said the extent of the impact cannot be ascertained at this point in time.

TAS shares closed one sen or 2.02% lower at 48.5 sen today, for a market capitalisation of RM85.16 million.

http://www.theedgemarkets.com/my/article/tas-offshore-receives-cancellation-notice-two-vessels

Posted by rikki > 2016-03-14 10:39 | Report Abuse

Public Invest still ‘overweight’ on plantations

PETALING JAYA: Public Invest Research is maintaining its “overweight” outlook on the plantation sector, with an average crude palm oil (CPO) price forecast of RM2,500 and RM2,600 a tonne for 2016 and 2017 respectively.

“We believe CPO price will be inching towards RM2,800 a tonne (metric ton) once inventories sink below two million tonnes by end of this month,” its analyst Chong Hoe Leong said in a report last Friday.

As at end of February, Malaysia’s palm oil inventories was lower by 6.1% month-on-month (m-o-m) to reach an eight-month low of 2.16 million tonnes, but were still higher by 25% year-on-year (y-o-y).

Chong said the stock-to-usage ratio climbed to 14.5%, from 12.9% previously, as CPO exports fell at a faster pace than inventories.

“This is 2.3% below the market consensus. The tighter stock situation has raised CPO prices by more than 37% since touching the six-year low of RM1,806 per tonne in late August.

“As CPO export duty is likely to be imposed next month, we expect steeper decline in inventories for March.”

Chong said the CPO spot price has shot up 12.6% to RM2,477 a tonne year-to-date in anticipation of supply risk concerns.

He said palm oil exports were down 15.2% m-o-m but 11.6% higher y-o-y. He added that weaker exports to China (-49.2%), India (-32.6%), Pakistan (-67.1%), the US (-13.8%) and other nations (-4.8%) were partly cushioned by stronger demand from the EU (+12.9%).

Chong said the CPO production fell 7.7% for four straight months, noting production in Peninsular Malaysia was up 2.9% m-o-m, while it was down 18% m-o-m in Sabah and Sarawak.

“As the oil palm trees are being hit by a ‘triple whammy’ (seasonal decline, El Nino (weather phenomenon) and biological tree stress), we expect production will continue to weaken in the coming months,” he said.

In the sector, PublicInvest prefers Genting Plantations Bhd, Ta Ann Holdings Bhd, TSH Resources Bhd and TDM Bhd.

On a separate note, Hong Leong Investment Bank (HLIB) Research maintains its “neutral” outlook on the plantation sector with an unchanged CPO price forecast of RM2,400 a tonne this year.

Going into March 16, HLIB Research expects CPO production to pick up m-o-m due to more harvesting days, but lower y-o-y due to the lagged impact from El Nino especially in Sabah.

“Based on our understanding, Sabah is still experiencing dry weather. This could further affect production in Sabah that has been suffering prolonged dry weather since 1H15,” it added.

HLIB Research’s top pick for the sector is CB Industrial Product Holding Bhd, with a target price of RM2.30.

http://www.thesundaily.my/news/1726380

Posted by rikki > 2016-03-17 06:44 | Report Abuse

Fed leaves rates unchanged, sees 2 hikes this year

A dovish Federal Reserve held the line on interest rates Wednesday and substantially scaled back its expectations for further moves ahead.

Where the U.S. central bank at its December meeting had projected four rate hikes in 2016, new estimates released Wednesday reduced that number to two. Fed officials also cut their expectations for economic growth and inflation.

In addition to the two rate increases this year, the Federal Open Market Committee now projects just two hikes in 2017, according to the latest Summary of Economic Projections.

The current interest rate target is 0.25 to 0.5 percent, and Fed officials back in December had expected the upper level to rise to 1.4 percent by year's end. With the new projections, the FOMC now sees just a 0.9 percent funds rate in 2016 and a 1.9 percent level by the end of 2017, both reflecting cuts of half a percentage point.

http://www.cnbc.com/2016/03/16/fed-leaves-rates-unchanged.html

Posted by rikki > 2016-03-17 08:30 | Report Abuse

Datasonic’s earnings to hit record high in 2017: RHB Research

Datasonic Group Bhd is set to post record high earnings in 2017, helped by contract extensions and new jobs, said RHB Research.

The group is looking to secure RM800 million to RM1.0 billion worth of contract extensions and new jobs in 2016. This, coupled with its recent success in clinching a passport chips contract, is likely to propel its earnings to a new high in 2017.

RHB Research said MyKad renewal is forthcoming as the existing MyKad contract is set to expire by mid-2016. “Management is working on a potential renewal by proposing the national identification card’s next generation,” it noted.

RHB Research expects an official award by June with the imputation of 12 million units each for new MyKad and MyKad consumables contracts, to be delivered over a three-year tenure.

Based on an average selling price (ASP) of RM17.50 per MyKad and RM4.00 per MyKad consumable, the renewals could be worth RM250 million to RM260 million.

For its existing provision of data-pages for Malaysian passports, Datasonic has an outstanding order book of 3.2 million copies as at December 2015.

“With the remaining balance set to be fully exhausted by Q1 2017, the group is negotiating a five-year extension of 13 million to 13.5 million copies. We estimate that this potential extension is worth RM370 million to RM390 million, based on an existing ASP of RM28.40. We expect an official award to take place in 3Q16,” RHB Research noted.

To complete its national passport offerings, Datasonic is finalising its discussions with the government for the provision of the passport book. The official award is expected to take place by end-March.

“We believe the official commencement date is likely to coincide with its passport chip contract, ie on Dec 1 2016. Our checks with sources indicate that the contract would cover 13 million to 13.5 million copies to be procured over a five-year tenure at a total value of RM210 million to RM230 million,” RHB Research said.

Datasonic is also eyeing to roll out its security camera solutions in the Klang Valley after having installed close to 600 cameras in Penang for local municipalities.

“The management is looking to install 3,000 cameras and to set up surveillance centres for the municipalities involved. The contract could be worth RM100 million to RM120 million,” said the research house.

In addition, Datasonic intends to penetrate into other national security-related projects, possibly in neighbouring countries over the medium term.

RHB Research is maintaining a “buy” call on Datasonic with an unchanged target price of RM1.87. “As such, we continue to advise investors to accumulate the stock,” it said.

The research house expects Datasonic’s Q4 core earnings, to be released by end-May, to come within the expectations at RM11 million to RM13 million.

In a separate development, Datasonic announced in a filing with the stock exchange yesterday that the 1 sen second interim dividend for the financial year ended March 31, 2016 is payable on April 12. The ex-date and the entitlement date are March 29 and March 31, respectively.

http://www.thesundaily.my/news/1730464

Posted by rikki > 2016-03-19 11:10 | Report Abuse

Magni-Tech sees 3Q net profit jump by 49% to RM26 mil

KUALA LUMPUR (March 18): Magni-Tech Industries Bhd's net profit for the third quarter ended Jan 31, 2016 (3QFY16) jumped 49% to RM26.07 million or 16.02 sen per share from RM17.49 million or 10.75 sen per share in 3QFY15, mainly due to higher garment revenue but was offset by lower operating income arising from lower currency exchange gain.

According to its quarterly report to Bursa Malaysia today, Magni-Tech's revenue grew by 34.2% to RM268.92 million compared to RM200.38 million in the corresponding quarter a year ago.

Magni-Tech said revenue for garment business in the quarter increased 40.6% mainly due to favorable effects of the US dollar against the ringgit and higher sales orders, but the revenue for packaging business dropped slightly by 0.6%.

A second single tier interim dividend of three sen per ordinary share and a single tier special dividend of two sen per share have been approved by the directors. The ex-date for both the dividends falls on April 5, and the payment date is April 26. For FY16, a total dividend of 13 sen has been declared, translating to a dividend yield of 2.9%.

For its cumulative nine-month period (9MFY16), the group recorded a 77.82% increase in net profit to RM63.27 million or 38.88 sen per share compared to RM35.58 million or 21.86 sen per share a year ago.

The group's cumulative revenue grew by 22.32% to RM660.08 million from RM539.65 million in 9MFY15.

Moving forward, the manufacturing and sales of garments will still be the group's major revenue contributor.

"The group maintains a cautiously positive outlook for the remaining quarter of the current financial year amid the global economic uncertainty.

"Both the garment and packaging businesses are expected to remain profitable for the remaining quarter of the financial year," the Bursa note said.

As of closing, shares of Magni-Tech were unchanged at RM4.48 with 123,000 shares traded, for a market capitalisation of RM729.04 million.

http://www.theedgemarkets.com/my/article/magni-tech-sees-3q-net-profit-jump-49-rm26-mil

Posted by rikki > 2016-03-21 08:26 | Report Abuse

KTC in expansion mode

PETALING JAYA: Kim Teck Cheong Consolidated (KTC) has shown no signs of slowing down as a slew of expansion plans are being executed one after another.

The Sabah-based consumer packaged goods company recently entered into a few agreements for the acquisitions of distribution centres.

“Apart from ongoing acquisition plans, we are growing our own brands of bakery products and consumer packaged goods, expanding our manufacturing capabilities as well as setting up new warehousing facilities,” executive director Dexter Lau (pic) told StarBiz.

After raising RM21mil from its intial public offering (IPO) last November, there were expectations that the company will go for steep growth.

KTC’s stock closed last Friday at 36.5 sen from its IPO price of 15 sen.

Lau said the company had strong future earnings prospects.

According to one analyst, there may still be more upside to the stock.

“KTC’s revenue sales growth rate is anticipated to be 20% to 30% by financial year 2019.

“This is due to increased distribution points as a result of its impending acquisitions, which include distribution centres in Sibu and Brunei as well as a warehousing facility in Kuching,” he said.

On March 16, KTC announced that it was acquiring a distribution centre in Brunei, which would provide KTC with an additional 600 sales and distribution points as well as enable immediate market penetration.

Under the terms of the deal, KTC will hold 60% equity interest in Grandtop Marketing Sdn Bhd (GMSB).

The GMSB acquisition also marks KTC’s first business extension out of Sabah and Sarawak.

At present, KTC has 19 distribution centres and 7,702 sales and distribution points over 84 districts in Sabah and Sarawak.

The group is also in the process of acquiring two warehousing facilities in Sarawak as part of its growth plans, targeted to be completed by June 2016.

KTC aims to set up a manufacturing facility in Sarawak for its bakery products later in the year.

A total of 95% of KTC’s revenue is made up of third party consumer packaged brands while the remaining 5% are house brands.

The group’s house brands include frozen and pre-packaged food and bakery products under the Orie and Creamos brands.

“Sandwich loaf and cupcakes will soon be added to our Creamos line of bakery goods. We are also going to launch Butter Maid, which will be our dairy product brand,” Lau said.

Lau said it would double the manufacturing capacity in Sabah.

Bakery products currently make up 2.14% or RM1.8mil of the group’s total revenue for the second quarter of 2016 with potential for more growth.

KTC reported revenue and net profit for its second quarter FY2016 of RM84.27mil and RM102,000, compared to first quarter figures of RM78.65mil and RM2.49mil.

KTC’s lower net profit for the second quarter was due to listing expenses of RM3.1mil.

For the financial years 2012 to 2015, the group recorded a compound annual growth rate (CAGR) of 14.39% for its revenue and 21.28% for its net profit.

Being a newly listed company is akin to being in a new environment, said Lau.

“I have to get used to dealing with analysts, institutional fund houses and investors.

“This is something I have to work on,” he added. He said once the company is familiar with operating within a listed environment, it will be able to grow faster and stronger.

Moving forward, it will study its cost, operational and organisational structures.

http://www.thestar.com.my/business/business-news/2016/03/21/ktc-in-expansion-mode/

Posted by rikki > 2016-03-21 08:32 | Report Abuse

Insurers poised to see earnings improve going forward

PETALING JAYA: Despite the challenging business climate, public-listed insurers generally appear to be bucking the trend and are poised to see an improvement in earnings in the coming quarters after having charted sturdy growth in earnings in the final quarter of last year.

Some analysts and industry observers told StarBiz that they expected the net earned income/premiums and claims ratio to improve this year, although this scenario might come under pressure if the economy slowed down due to external headwinds and geopolitical woes.

Under the recalibrated Budget 2016, the country’s gross domestic product (GDP) growth had been revised to a narrower range of 4%-4.5% for this year. Last year, GDP stood at 5% as opposed to 6% in 2014.

The general insurance industry achieved 2.3% growth last year, with gross written premiums of RM17.49bil, which was a slower rate compared to the 5.9% growth achieved in 2014, the General Insurance Association of Malaysia said.

For the life insurance industry, new business total premium grew 1.8% in 2015 with total premium volume recording RM9.12bil, the Life Assurance Association of Malaysia said. The growth of new life business total premiums was lower than that of 9.3% achieved in 2014. The insurance sector’s performance is closely related to the country’s economic strength.

MIDF Research analyst Hafiz Hassan, who is maintaining a positive stance on the sector, said earnings were expected to continue improving in the coming quarters at a reasonable growth pace on growth prospects in net earned income and stable claims ratio.

He said two out of three stocks - LPI Capital Bhd and Tune Protect Group Bhd - under the research house coverage reported higher than expected earnings in the fourth quarter of last year (Q4’15), adding that this was a favourable improvement over none recorded in Q3’15. In Q3’15, all the three insurance/takaful companies’ earnings - LPI, Tune Protect and Syarikat Takaful Malaysia Bhd (STMB) - came within the brokerage’s expectations.

http://www.thestar.com.my/business/business-news/2016/03/21/insurers-buck-trend/

Posted by rikki > 2016-03-22 15:39 | Report Abuse

Scientex Q2FY16 net profit rises 79% to RM64.6mil

KUALA LUMPUR : Packaging firm Scientex Bhd reported a net profit of RM64.6mil in the second quarter for the financial period ended July 31, 2016 (FY16), or a 79% increase from RM36.05mil over the same period last year.

In a filing to the exchange today, the company announced a growth in revenue to RM545.43mil from RM462.87mil on the back of improved contributions from both its manufacturing and property development divisions.

In a statement, the company said that turnover from its consumer packaging business recorded a positive growth while demand also remained strong for its affordable properties in Johor.

“Our aggressive focus on affordable property sales and continuous expansion of consumer packaging operations has enabled us to sustain the Group’s earnings in 2Q16, amidst the ongoing challenges in the property and consumer sectors in the domestic and regional markets,” said Scientex managing director Lim Peng Jin.

Growth in its manufacturing segment was underpinned by higher consumer packaging sales which grew 47.4% to RM190.2mil on a year-on-year basis. Industrial packaging sales grew 7% to RM211.8mil.

Meanwhile, exports made up 46.4% of the company's consumer packaging revenue during the quarter compared to 33.5% the year before. In line with the growth in exports, Scientex also benefited from a better product mix and favourable exchange rates due to the weaker ringgit, it said.

In a separate filing today, Scientex proposed a one-for-one bonus issue which entails the issuance of up to 230 million new shares with a par value of 50 sen apiece.

The bonus issue, which is pending approval by shareholders at an upcoming extraordinary general meeting (EGM), would increase the liquidity of Scientex shares while enlarging its issued and paid-up capital to reflect the company's current scale of operations, it said.

http://www.thestar.com.my/business/business-news/2016/03/22/scientex-net-profit-up/

Posted by YS Babe > 2016-05-11 11:34 | Report Abuse

Gud morning!
hehehe

Mark, awak kat mana? Apa pasal Koon tu sesangat le femes, aku nengok kat wall Tessa tu ada 2 news dia hehehe

https://superawesomedeals.wordpress.com/

KUTPAI hehehe

Posted by Hitman > 2016-05-30 09:33 | Report Abuse

bro rikki, where are you?

Posted by Hitman > 2016-07-17 11:33 | Report Abuse

GudMorning, http://klse.i3investor.com/servlets/forum/900543250.jsp

Posted by Tessa Joseph > 2016-10-21 15:23 | Report Abuse

Hellooo Hellooo anybody home?

Posted by Tessa Joseph > 2016-10-21 22:15 | Report Abuse

Some of the highlights of 2017 Budget

Here are the highlights of the 2017 Budget proposals announced on Friday by Prime Minister Datuk Seri Najib Tun Razak:

Lower corporate tax

* Govt has proposed to reduce the corporate tax for the year of assessment 2017 and 2018

* Reduce tax rate between 1 and 4 percentage points for companies with significant increase in taxable income for year of assessment 2017 and 2018.

* Reduce tax rate from 19% to 18% for SMEs with taxable income up to first RM500,000.

* Extend double taxation promotion on operating expenditure borne by anchor companies for the Vendor Development Programme until 31 December 2020.

Amendment to Bankruptcy Act 1967

* To enable bankrupt individuals to rejoin business activities by amending the Bankruptcy Act for social guarantors and those diagnosed with chronic diseases as well as the elderly.

Infrastructure, railway projects

* New 600km East Coast Rail Line connecting Klang Valley to East Coast, costing RM55b. Conects Port Klang, ITT Gombak, Bentong, Mentakab, Kuantan, Kemaman, Kerteh, Kuala Terengganu, Kota Bharu ends in Tumpat

* RM100m to restore East Coast railway line along Gua Musang – Tumpat that was destroyed during flood.

* To increase trip frequency of ETS for JB-Padang Besar route, RM1.1b allocation to buy more train sets

Boosting investments in small, midcap companies

* Govt-linked investment companies will set aside up to RM3b to fund managers to invest in potential small and midcap firms

* Capital Market Research Institute will set up Capital Market Development Fund with initial funding of RM75m

* Stamp duty on instruments of transfer of real estate worth more than RM1m to rise from 3% to 4% from Jan 1, 2018

Broadband incentives for rakyat

* Malaysian Communications and Multimedia Commission (MCMC) will provide RM1 billion to ensure the coverage and quality of broadband nationwide reaches up to 20 megabytes per second.* From January 2017, fixed line broadband service providers will offer services at a higher speed for the same price.

* A subscriber of 5 mbs per second package at RM149 will enjoy a package with twice the speed, which is 10 megabytes per second. Within the next two years, for this package, the speed will be doubled with the reduction in prices by 50%.


BR1M, subsidies

* BR1M’s assistance for 2017. Households with monthly income below RM3,000, raised to RM1,200

* For households earning RM3,000-RM4,000, the BR1M allocation increased from RM800 to RM900

* Government will provide nearly RM10b for fuel subsidies including cooking gas, toll charges, public transport

* For the purchase of reading materials, PCs, sports equipment be combined as lifestyle tax relief up to RM2,500 from 2017

Affordable housing for first time buyers

*Govt vacant lands at strategic locations will be given to GLCs and PR1MA to build 30,000 houses. The selling price RM150,000 to RM300,000.

*Govt to build 10,000 houses in urban areas for rental to eligible youths with permanent job, Rental up to 5yrs, below than market rate

* Rakyat-Centric projects will be continued through Private Finance Initiative with allocation of RM10b

Empowering taxi drivers, Uber

* Taxi drivers to get Govt grant of RM5,000 to buy new vehicles, individual taxi permits, RM60m allocation

* For ride-sharing drivers who don't own car, down payment can be made using BR1M, rebate RM4,000 to buy Proton Iriz*

Private retirement schemes

* Effective 2017, the Government proposes to introduce a one-off increase of the existing RM500 incentive to RM1,000 to PRS contributors. Minimum accumulated investment of RM1,000 during the otwo years. For this, an allocation of RM165mil will be provided.

* RM400 million will be allocated, among others for clean air and ecotourism initiatives.

Link : http://www.thestar.com.my/business/business-news/2016/10/21/some-of-the-highlights-of-2017-budget/

Posted by UniC > 2016-10-21 22:16 | Report Abuse

80% are garbage talk only no action.


for example.


* RM400 million will be allocated, among others for clean air and ecotourism initiatives.


guess where the 390m end up?

Posted by YS Babe > 2017-03-01 10:02 | Report Abuse

Good morning empty house, I am here to decorate you hehehe

CIMB IB Research has maintained its “Reduce” rating on Tan Chong Motor Holdings Bhd at RM1.66 with a lower target price of RM1.56 (from RM1.61) and said Tan Chong’s FY16 results were above expectations as core net loss was 15% and 14% lower than house estimate and consensus, respectively, due to narrowing losses in 4Q16.

In a note today, the research house said Tan Chong slipped into core net loss of RM51.1 million in FY16 from core net profit of RM55.4 million in FY15 due to poor sales volume on the back of weak consumer sentiment.

It said the company proposed a final dividend of 1 sen for FY16, below house expectation.

“We cut FY17-18F EPS by 42-73% to account for lower sales volume assumptions in view of weak consumer sentiment and lack of new model launches.

“Switch to Bermaz Auto Bhd for better exposure to auto sector,” it said.

EDGE

Posted by YS Babe > 2017-03-01 10:06 | Report Abuse

Eversendai ends FY16 with more kitchen-sinking

This article first appeared in The Edge Financial Daily, on March 1, 2017.


KUALA LUMPUR: Eversendai Corp Bhd’s share price plummeted 17.2% yesterday to close at 53 sen after the group posted a net loss of RM193.08 million in the fourth quarter ended Dec 31, 2016 (4QFY16), dragged down by surprise impairments of RM176 million.

In contrast, the group posted a net profit of RM7.3 million in the corresponding quarter last year.

“We made further impairments last year, in order to start on a clean slate. Our focus is now to show a steady growth in quarterly profits going forward,” explained executive chairman and group managing director Tan Sri AK Nathan at a press briefing yesterday.

He explained that the latest round of impairments was due to cost overruns of RM112 million and provisions of doubtful debts of RM64 million. Both are one-off, he said.

In the group’s recent financials, however, neither is stated as one-off charges.

The RM64 million in provisions for doubtful debts was lumped into the group’s operational and administrative expenses, which swelled RM83.45 million or 64.9% year-on-year (y-o-y) to RM128.69 million.

“We decided to be more prudent, hence, we recognised the bad debts. But that doesn’t mean we won’t get paid. We are still looking to get the payment, and when we do, it will be reflected positively in our books,” AK explained.

The cost overruns were reflected in the group’s lower revenue — down RM149.4 million or 30.3% y-o-y to RM340.97 million.

Instead of booking an expense, the cost overruns were recognised in the accounts as a downward adjustment to revenue.

AK explained that the cost overruns stem from an eight-to-nine-month delay in securing financing for a project. The delay incurred penalties, increased cost of materials and reduced utilisation at the fabrication yard.

However, AK stressed that both impairments were one-off.

Nonetheless, investors were not impressed. Eversendai’s share price rallied 56% to a high of 74 sen in early-February, on expectation that the group completed the bulk of its impairments in the 3QFY16 results.

Recall, Eversendai recorded a one-off write-down of RM110 million for its failed venture into the Singapore-listed Technics Oil & Gas Ltd.

Combined, the impairments totalled RM286 million for FY16, resulting in a net loss of RM257.5 million for the year or 33.27 sen per share.

On a positive note, Eversendai booked RM801.4 million in new contracts in December and January, bringing its total order book to RM3 billion. Barring additional surprise impairments, Eversendai is poised to quickly return to the black after FY16’s heavy kitchen-sinking.

Posted by Mark T Bird > 2018-01-27 14:04 | Report Abuse

Ire-Tex CEO sacked after five months, board rejects his showcause letter reply
http://www.theedgemarkets.com/article/iretex-ceo-sacked-after-five-months-board-rejects-his-showcause-letter-reply

Posted by Mark T Bird > 2018-01-27 14:11 | Report Abuse

Bursa to trade higher next week
http://www.themalaymailonline.com/money/article/bursa-to-trade-higher-next-week1#uZQlxISrCYcO8VxG.97

Posted by Mark T Bird > 2018-01-29 17:02 | Report Abuse

After KFC deal not renewed, DBE Gurney registers unit for property development
http://www.theedgemarkets.com/article/after-kfc-deal-not-renewed-dbe-gurney-registers-unit-property-development

Posted by Mark T Bird > 2018-01-30 10:27 | Report Abuse

You guys spend most of your day researching stocks. What are some companies that you like that don't make it on the show?

Posted by Tessa Joseph > 2018-01-30 10:37 | Report Abuse

currently stocks recommended by Bursakakis, Bursa Master, IBs, those stocks are in my stock monitor but not in, I focus on long term ownership of good businesses :)

rikki is also my friend, so good idea to share on stocks recommendation

Posted by Cik Babe > 2018-01-30 10:54 | Report Abuse

Mark, ada Sa bagi link closed group tapi aku X main saham lagi, aku jaga cucu, tapi aku ada baca sini ramai gaduh bila saham jatuh, sebenarnya tak susah kalau saham asyik jatuh, jual, perasaan rasa lega tak stress lagi, walau rugi kutpai hehehe

Posted by Mark T Bird > 2018-01-30 10:59 | Report Abuse

noted!

Posted by Mark T Bird > 2018-01-30 22:33 | Report Abuse

Stocks sucked under by bond market breakout
Read more at https://www.thestar.com.my/business/business-news/2018/01/30/stocks-sucked-under-by-bond-market-breakout/#lOHMd6gEwlHUXmKc.99

Posted by Mark T Bird > 2018-01-30 22:34 | Report Abuse

RHB Bank to raise interest rates on Friday
Read more at https://www.thestar.com.my/business/business-news/2018/01/30/rhb-bank-to-raise-interest-rates-on-friday/#LPl3ofeCtShOwgRE.99

Posted by Mark T Bird > 2018-01-31 09:58 | Report Abuse

COMPANIES IN THE NEWS

AmProp, AppAsia, Ecofirst, Genetec, Ikhmas Jaya, MBSB, Mudajaya, Perstima, Pintaras, Salcon, SunCon and WZ Satu

KUALA LUMPUR (Jan 30): Based on corporate announcements and news flow today, stocks in focus on Friday (Feb 2) may include: AmProp, AppAsia, Ecofirst, Genetec, Ikhmas Jaya, MBSB, Mudajaya, Perstima, Pintaras, Salcon, SunCon and WZ Satu.

Amcorp Properties Bhd’s joint-venture unit with Grosvenor Europe Investments Ltd has acquired a residential development project in the Chamberi district of Madrid, Spain.

The JV — in which Amcorp increased its capital commitment to €50 million from €35 million this month — will develop 15 exclusive apartments and two penthouses in a seven-storey building in consultation with architectural firm Cano Y Escario.

The Malaysian Institute of Accountants (MIA) has appointed AppAsia Bhd’s unit as the service provider for the development of a platform to facilitate the audit company's bank accounts confirmation process.

The contract sum and period for the platform — dubbed Electronic Bank Confirmation Platform — was not disclosed. However AppAsia said that it will fund the contract through internal funds and/or external borrowings, and that the contract will contribute to its books throughout its duration.

Ecofirst Consolidated Bhd’s net profit for the quarter ended Nov 30, 2017 (2QFY18) rose over five-fold to RM27.52 million from RM5.23 million a year ago, thanks to higher contribution from its property development division, and a land sale worth RM28.4 million.

Quarterly revenue more than tripled to RM40.43 million from RM12.07 million previously, mainly from two property development projects — Liberty @Ampang Ukay and Upper East @Tiger Lane, Ipoh.

For its half-year period ended Nov 30 (1HFY18), Ecofirst saw net profit rise almost five-fold to RM31.12 million, from RM6.56 million in 1HFY17, while revenue nearly tripled to RM85.22 million from RM29.61 million.

Genetec Technology Bhd plans to set up a consortium with China Rainbow International Investment Co Ltd (CRIIC) and India-based VBC Fertilisers & Chemicals Ltd (VBC) to develop an ammonia and urea manufacturing plant with annual capacity of 2.5 million tonnes in India.

The three companies inked a Memorandum of Understanding (MoU) with the Malay Chamber of Commerce Malaysia (MCCM). Under the MoU, Genetec will facilitate CRIIC’s participation in the project, which will provide funding totalling 30% of the project costs.

Ikhmas Jaya Group Bhd has bagged two contracts worth RM38.5 million to undertake subcontract bored piling works under the light rail transit line 3 (LRT3) project.

Its wholly-owned subsidiary Ikhmas Jaya Sdn Bhd has accepted the letters of award from Mudajaya Corp Bhd to undertake subcontract bored piling works in Zone 2 and 3 for Package GS01 — comprising works for guideway, stations, 'park and ride', ancillary buildings and other associated works for the project delivery partner MRCB George Kent Sdn Bhd.

Malaysian Building Society Bhd (MBSB) announced a single-tier final dividend of five sen per share for the financial year ended Dec 31, 2017 (FY17), after its net profit almost tripled in the fourth quarter ended Dec 31 (4QFY17) to RM123.98 million from RM45.64 million in 4QFY16.

The higher net profit was helped by lower cost of funds and lower allowances for impairment losses, as its kitchen-sinking exercise first initiated in 4QFY14 comes to an end. This came despite revenue coming in slightly lower at RM818.27 million, versus RM819.4 million a year earlier.

For the full-year period, net profit more than doubled to RM417.13 million from RM201.41 million, while cumulative revenue retreated slightly to RM3.26 billion from RM3.27 billion.

Mudajaya Group Bhd’s wholly-owned unit has issued Green Sustainable and Responsible investment (Green SRI) Sukuk Wakalah worth RM245 million to fund its proposed 49MW solar photovoltaic (PV) plant in Kuala Kangsar, Perak.

The sukuk — rated AA-IS by Malaysian Rating Corp Bhd — has a tenure of up to 18 years from the issue date, with coupon rates between 4.96% and 6.35%, payable semi-annually.

Perusahaan Sadur Timah Malaysia Bhd (Perstima) saw its profit fall 76% in its third quarter ended Dec 31, 2017 (3QFY18) to RM3.4 million from RM14.16 million a year ago, no thanks to lower profit margins and sales volume.

Quarterly revenue, however, was up 0.4% to RM233.89 million from RM233.04 million, as higher average selling price made up for the lower sales volume.

Posted by Mark T Bird > 2018-01-31 09:59 | Report Abuse

Pintaras Jaya Bhd has been awarded a contract worth RM68.5 million by Bina Puri Development Sdn Bhd for works related to a mixed development in Brickfields, Kuala Lumpur.

The job scope entails piling and substructure works for a proposed development comprising 54 levels of office suites, two blocks of 63 levels of service apartments, food court, commercial lots and car parks.

In the nine months ended Dec 31, 2017 (9MFY18), Perstima's net profit slumped by 75.1% to RM9.75 million from RM39.2 million in 9MFY17, though revenue rose 15.94% to RM705.73 million from RM608.69 million.

Salcon Bhd’s indirect 60%-owned unit has secured a RM18.95 million contract from China State Construction Engineering (M) Sdn Bhd (CSCE) for a 20-month work order under a mixed development on Jalan Segambut.

The project involves the construction of two blocks of service apartments, related facilities, one guard house, and one unit of electrical substation. Salcon said it will contribute to the company’s books in its financial years ending Dec 31, 2018 (FY18) and FY19.

Sunway Construction Group Bhd (SunCon) is forming a 49:51 joint venture (JV) with Singapore-listed Hong Leong Asia Ltd to jointly tender for the lease of a piece of land in Singapore from Singapore's Building and Construction Authority (BCA).

If successful, the two companies plan to develop the land for the manufacture and sale of precast concrete building components. SunCon said it will also benefit from the proposed JV in the long run through productivity improvement and reduced reliance on foreign workers, but did not elaborate.

WZ Satu Bhd’s net profit in the quarter ended Nov 30, 2017 (1QFY18) slumped 94% to RM497,000 from RM8.5 million a year ago, dragged by weaker results in the mining and civil engineering and construction segments, and losses incurred by its associates.

This is despite revenue rising 6% to RM138.16 million against RM130.17 million, helped by higher topline contribution from its oil and gas (O&G) division, but which was largely offset by lower revenue from other subsidiaries.

THEEDGE

Posted by Mark T Bird > 2018-01-31 18:03 | Report Abuse

As oil majors escape the rout, key questions emerge for 2018

NEW YORK, Jan 31 — For the world’s largest oil explorers, it’s a time of transition.

Crude prices are on the rise as Opec curbs production for a second year. New efficiencies have dropped the cost of drilling in America’s fertile shale basins, pushing US drillers to record output. Investors are insisting on higher returns. And companies are dealing with changing US tax rules.

The first hints showing how Big Oil — an elite clique of companies so massive their combined annual sales dwarfs the economies of all but 15 of the world’s nations — is preparing to deal with these changes will come in fourth-quarter earnings reports starting this week. First up, Royal Dutch Shell Plc, Exxon Mobil Corp and Chevron Corp.

These are the key questions investors will be asking:

1. Who gets the cash?

The question everyone is asking is what will oil companies do with the additional cash with Brent at US$70 (RM273) barrel. Will more money go to shareholders in the form of dividend increases and buybacks, or will spending pick up? The supermajors slashed expenditures during the downturn and focused on efficiency.

Some analysts are worried the companies will waver from their hard-earned financial discipline now that they are once again flush with cash.

Years of cost cuts mean explorers are starting to repair balance sheets and allay concerns about fully funding dividends. Exxon and Shell have said they are generating enough cash to cover the payouts.

Chevron may raise its dividend this week for the first time since late 2016, according to Bloomberg estimates. BP, which said it will reduce its cash breakeven to US$40 a barrel oil by the end of the decade, has some way to go as it is still paying penalties related to the 2010 Deepwater Horizon disaster.

There are many reasons for the industry to feel sunny this earnings season. It is no longer lagging the broader market. Still, there’s some catching up to do with oil’s surge. The companies are facing long-term questions about the sustainability of fossil fuels with the world increasingly focusing more on cleaner energy and electric vehicles.

2. Tax overhaul impacts?

Corporate America is cheering President Donald Trump’s tax overhaul but the impact on oil companies is likely to be more muted. US upstream operations typically aren’t big taxpayers because they invest heavily in projects over many years before turning a profit, so they won’t benefit as much as other industries.

Other provisions such as lowering deductions for interest payments and reducing the ability to amortise exploration costs also minimise the benefits.

BP and Shell said they may write off as much as US$4 billion in American tax assets as a result of the reform. But investors should be wary about reading across to other companies: Shale explorer EOG Resources Inc said it would post a one-time gain of US$2.2 billion. Exxon and Chevron have yet to comment.

3. Pushing the Permian?

US shale production, which will reach a record this year, has upended energy markets, geopolitics and major oil companies’ capital spending. Once overlooked as niche and inconsequential, the Permian Basin, the most prolific US field, is now a key part of Exxon and Chevron’s planning for the next decade.

Chevron has committed to investing US$3.3 billion in the region this year and sees production rising at least 50 per cent by the early 2020s. Exxon last year spent as much as US$6.6 billion on drilling rights in New Mexico and on Tuesday announced plans to triple output in the region by 2025. There have been few further details so investors will be looking closely for commentary around whether they will be able to reverse recent net losses at their US upstream divisions.

Shell entered the Permian six years ago with the US$1.9 billion purchase of rights to more than half a million acres from Chesapeake Energy Corp. Now, the European giant is considered a potential suitor for the Permian assets BHP Billiton Ltd is seeking to unload because Shell’s existing holdings are nearby.

Posted by Mark T Bird > 2018-01-31 18:03 | Report Abuse

4. Downstream & chemicals?

In a world where some forecasters are seeing oil demand peaking as early as 2030 due to growth in electric vehicles, oil majors know they must adapt to survive.

The CEOs of Exxon and Shell both came from their downstream divisions as did Chevron’s incoming boss, raising the question of whether the companies’ boards see a long-term necessity of thinking beyond oil and gas production. BP’s upstream boss Bernard Looney on Tuesday said alternative energies will make petroleum obsolete — the only question is when.

Chemical manufacturing provides a natural hedge to energy prices because they benefit from lower input costs when oil or gas are cheap. Exxon’s chemicals division provided more than half its net income in 2016.

Meanwhile Shell and Total has been vocal about investing in renewable energy sources. Will companies increase investments in chemicals, or commit to new renewable energy ventures? — Bloomberg


Read more at http://www.themalaymailonline.com/money/article/as-oil-majors-escape-the-rout-key-questions-emerge-for-2018#SbBCXL8vHqMBd5Rb.99

Posted by Cik Babe > 2018-01-31 23:38 | Report Abuse

kaya raya O&G companies!

Posted by Mark T Bird > 2018-02-01 08:44 | Report Abuse

Philippines extends losses; Thailand posts best month in 18 months

SINGAPORE: Philippine shares extended losses to a second session on Wednesday, pulling further away from an all-time high hit earlier this week, while Thailand ended steady, marking its best month in 1-1/2 years.

Asian stocks steadied after sliding on rising global bond yields, with MSCI's broadest index of Asia-Pacific shares outside Japan on course for a 6.6 percent monthly gain, its biggest since March 2016.

However, the U.S. Federal Reserve's monetary policy statement due later in the day kept investors on guard.

"Bond yields in the U.S. are rising, so there is a shift in funds from emerging markets back to the U.S," said Lexter Azurin from AB Capital Securities.

Foreign Institutional Investor (FII) net outflows for Philippines was $39.4 million on Tuesday, while Indonesia recorded $88.9 million net outflows. Thailand's net outflows stood at $81 million in the previous session.

Philippine shares ended 1.6 percent lower, after the previous session's 1.6 percent drop, as industrials fell, with SM Investment Corp shedding 6 percent.

The index, however, climbed 2.4 percent in January, its second straight monthly gain.

Thai shares ended flat, but rose 4.2 percent this month, its best since July 2016.

Energy stocks PTT Pcl and PTT Exploration and Production PCL gained 1.6 percent each after Royal Dutch Shell said it would sell its Bongkot gas field stake to PTT Exploration & Production for $750 million before tax.

Meanwhile, data showed Thai private consumption contracted in December from the previous month while investment rose slightly, implying that a recovery in Southeast Asia's second-largest economy is still patchy.

Indonesian shares firmed 0.5 percent, bringing the monthly gain to 3.9 percent after December's 6.8 percent surge.

Lender PT Bank Pan Indonesia climbed to a record close, while Telekom Indonesia finished 2.3 percent higher.

The index of the country's 45 most liquid stocks ended 0.2 percent higher.

Singapore shares closed 0.4 percent lower, with heavyweight Keppel Corp shedding 1.1 percent.

The index, however, gained 3.9 percent this month after a 0.9 percent decline in December.

Vietnam shares finished flat, marking a fifth consecutive monthly gain, with Petrovietnam Gas Joint Stock rising to a three-year closing high.

Malaysia was closed for a public holiday. - Reuters

Read more at https://www.thestar.com.my/business/business-news/2018/01/31/philippines-extends-losses-thailand-posts-best-month-in-18-months/#ByiMXG55CPjOHCCo.99

Posted by Mark T Bird > 2018-02-01 08:52 | Report Abuse

ty nice 2 c u, duit isit?

Posted by Mark T Bird > 2018-02-01 08:59 | Report Abuse

tessa thinks u r the bursamaster!

Posted by Mark T Bird > 2018-02-01 09:03 | Report Abuse

yes, too many, I wonder wheres bro FT, hitman, hotT and many more :)

Posted by Mark T Bird > 2018-02-01 09:05 | Report Abuse

I HOPE ALL DOING WELL!

Posted by Mark T Bird > 2018-02-01 09:08 | Report Abuse

TY BRO!

Posted by Cik Babe > 2018-02-01 09:33 | Report Abuse

apa khabar duit? rindu laaa harap awak sihat selalu dan sentiasa maju jaya. memang aku nampak banyak new ID, aku pun silent reader hehehe ingat lagi dulu tessa ct connie chris satu rumah, rumah tu tutup, tessa ngan ct duduk rumah ini, chris ngan connie duduk rumah satu lagi, aku ngan mark ini ciluk sana ciluk sini, aritu mark terkejut beruk, dia komen kat satu forum ada orang tuduh dia connie, macam mana lak lelaki jadi pompuan hehehe KUTPAI

Posted by Mark T Bird > 2018-02-01 15:34 | Report Abuse

Oil extends gains on robust OPEC compliance

TOKYO: U.S. oil prices extended gains on Thursday as OPEC's strong compliance with a supply reduction pact offset news that U.S. production topped 10 million barrels per day for the first time in nearly half a century.

NYMEX crude for March delivery rose 18 cents, or 0.3 percent, to $64.91 a barrel by 0030 GMT, after ending the last session up 0.4 percent.

London Brent crude for April delivery had yet to start trading, after settling on Wednesday up 3 cents at $68.89.

U.S. crude oil production in November surpassed 10 million barrels per day for the first time since 1970, and neared the all-time output record, the Energy Information Administration said on Wednesday.

Oil output by the Organization of the Petroleum Exporting Countries also rose in January from an eight-month low as higher output from Nigeria and Saudi Arabia offset a further decline in Venezuela and strong compliance with a supply reduction pact, a Reuters survey found.

However, adherence by producers included in the deal to curb supply rose to 138 percent from 137 percent in December, the poll found, suggesting commitment is not wavering even as oil prices hit their highest level since 2014.

U.S. crude inventories rose by 6.8 million barrels last week, after 10 straight weeks of declines, U.S. Energy Information Administration data showed on Wednesday. Analysts had expected a decrease of 126,000 barrels.

Gasoline stocks unexpectedly fell by 2 million barrels, compared with expectations in a Reuters poll for a gain of 1.8 million barrels, helping push up gasoline futures.

Distillate stockpiles, which include diesel and heating oil, fell by 1.9 million barrels, versus expectations for a 1.5 million-barrel drop, the EIA data showed. - Reuters


Read more at https://www.thestar.com.my/business/business-news/2018/02/01/oil-extends-gains-on-robust-opec-compliance/#CqKGvXjjXtsD0Ei5.99

Posted by Mark T Bird > 2018-02-01 22:50 | Report Abuse

Oil jumps as Goldman Sachs boosts price forecast by a third

LONDON: Oil jumped after Goldman Sachs Group Inc. boosted a price forecast by a third and said global crude markets have probably rebalanced.

West Texas Intermediate futures added 0.6% in New York. Strong fuel demand and output cuts by OPEC have helped clear a glut six months earlier than anticipated, Goldman analysts Damien Courvalin and Jeff Currie said in a report, raising their six-month price expectation to us$82.50 a barrel from us$62.

“The rebalancing of the oil market has likely been achieved,” the analysts said.

WTI for March rose 40 cents to US$65.13 a barrel on the New York Mercantile Exchange at 9:18 a.m. London time, after adding 23 cents on Wednesday. Total volume traded was about 29% above the 100-day average. Front-month futures are still down 1.5% this week. Wednesday’s relatively small gain was spurred by the first draw in U.S. gasoline stockpiles since early November.

Brent for April settlement was at US$69.30 a barrel on the London-based ICE Futures Europe exchange, up 41 cents. The March contract expired Wednesday after rising 3 cents to $69.05. The global benchmark crude traded at a premium of US$4.36 to April WTI.

Last week, U.S. oil output surged above 10 million barrels a day for the first time in more than four decades, while nationwide stockpiles ended 10 consecutive declines, government data showed Wednesday.

The run of inventory declines -- as well as OPEC cuts and a weaker dollar -- helped send prices to a fifth month of gains in January, the longest such streak since 2011.

Still, the gain was seen spurring American drillers to pump more, prompting fears that stockpiles would once again start to build. Additionally, inventory increases were on the horizon due to seasonal refinery maintenance.

Oil-market news:
• U.S. crude stockpiles climbed 6.78 million barrels to 418.4 million barrels last week, according to government data. Contributing to the expansion was a 41,000-barrel increase in daily production as well as the biggest tranche of imported oil since August.

• U.S. gasoline inventories dropped by 1.98 million barrels, according to the data, helping ease concern over lackluster demand.

• Royal Dutch Shell Plc said improved exploration and production lifted its quarterly profit to a three-year high, while refining and trading fell short of expectations as margins shrank.

• BHP Billiton Ltd., seeking to accelerate the sale of its U.S. shale unit, is prepared to offer the assets in as many as seven packages, including three in the prized Permian Basin, according to people with knowledge of the producer’s plans. - Bloomberg
Read more at https://www.thestar.com.my/business/business-news/2018/02/01/oil-jumps-as-goldman-sachs-boosts-price-forecast-by-a-third/#BAem0Wqr6mfh1B12.99

Posted by Mark T Bird > 2018-02-02 19:04 | Report Abuse

Asian currencies still cheap in real terms, analysts say

SINGAPORE, Feb 2 ― Asian currencies are cheap in historical trade-weighted terms despite a steady rise to multi-year highs over the past year on broad US dollar weakness and strong flows into the region, analysts say.

Malaysia's ringgit, for instance, has appreciated more than 15 per cent against the dollar since the beginning of 2017, but in real effective exchange rate terms (REER), it is still 5 per cent below its 10-year average.

REER is calculated on a trade-weighted basis against a basket of currencies and adjusted for inflation.

The Japanese yen, Philippine peso and Indonesian rupiah are also trading below their 10-year averages.

The rise in regional currencies against their trading partners' currencies over the past year has been much lower than their gains on the dollar, keeping them attractive even now, analysts say.

The South Korean won and the Thai baht have gained more than 12 per cent each against the dollar since Jan 2017, but their REER rates rose just about 4 per cent in that period.

“If you look at real effective exchange rates, Asian currencies are not very over-valued,” said Chang Wei Liang, an FX strategist with Mizuho Bank.

“Asian currencies could still have scope to gain, given the very substantial current account surpluses in their economies.”

China's yuan and South Korean won's REER rates are the highest in the region, trading at 122.6 and 110.7 respectively, according to a JP Morgan REER index based at 100 in 2010.

Asian exports have largely managed to absorb the rise in regional currencies while benefiting from robust global demand and a recovery in commodity prices.

China's exports increased in 2017 for the first time in three years, while Japan's exports saw their biggest growth in seven years.

Despite the baht gaining about 10 per cent against the dollar, Thai exports grew 9.9 per cent last year, the biggest rise in six years.

“Generally exports react more to external demand conditions, rather than currencies,” said Mizuho's Chang.

“We don't see currency strength holding back exports in Asia, given that external demand is on an upswing at the moment.”

Regional trade momentum is set to continue this year with South Korea, for example, showing robust export growth in January driven by computer chips and petroleum products.

Nonetheless, the operating profits of Asian companies making much of their revenue from exports are expected to take a hit from the sharp rise in their domestic currencies. ― Reuters


Read more at http://www.themalaymailonline.com/money/article/asian-currencies-still-cheap-in-real-terms-analysts-say#z51SAWx3VGZWjtWe.99

Posted by Mark T Bird > 2018-02-02 19:49 | Report Abuse

China will import more palm oil and palm-based products from Malaysia: Chinese Ambassador to Malaysia Bai Tian.

Malaysia's palm oil exports to China

2017 .. 1.92 million tonnes

2016 .. 1.88 million tonnes

2015 .. 2.38 million tonnes

2014 .. 2.84 million tonnes

2013 .. 3.70 million tonnes

2012 .. 3.50 million tonnes

2011 .. 3.98 million tonnes

2010 .. 3.48 million tonnes

2009 .. 4.03 million tonnes

2008 .. 3.79 million tonnes

2007 .. 3.84 million tonnes

Source: Malaysian Palm Oil Board



PUTRAJAYA: China will be importing more palm oil and palm-based products from Malaysia and will not set limits on imports, says Chinese Ambassador to Malaysia Bai Tian.

He said there is good prospects for China in purchasing more agricultural commodities from Malaysia as bilateral relations are at its best.

"China's population of 1.3 billion people is the world’s biggest consumer market. Our government has set aside more than US$8 billion to import primary goods from producing countries.

"Bilateral trade between China and Malaysia is progressing and based on last year's trend we see higher demand for palm oil, rubber and other primary goods,” the ambassador said.

Bai further said China has no technical limit or glass ceiling on purchase of primary goods like palm oil from producing countries like Malaysia, adding that China

understands oil palm planters concerns in Malaysia.

"You can rely on us as a friendly party," Bai said.

China consumes 165 million tonnes of regular diesel per year. Local production of biodiesel is only 300,000 tonnes per year.



"Let’s say 5 per cent of my country's diesel consumption were to be from renewable sources, we would need to import more than 8 million tonnes of biodiesel per year,” he added.



Although Bai diplomatically made no reference or comparison to other nations, it was obvious his welcoming assurance of 'no technical limit' on palm oil purchase in China is starkly in contrast with the EU Parliament’s discriminatory stance to impose barriers to palm oil trade worth tens of billion dollars per year.



According to Malaysian Palm Oil Board data, palm oil shipment into China has been declining since 2009’s peak of four million tonnes.



However, last year, Malaysia's palm oil exporters saw a positive turn when volume improved by 2 per cent to 1.92 million tonnes.



Bai was speaking to reporters here today after a courtesy visit to Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong.



Within 100 days of taking office in Kuala Lumpur, Bai is fast gaining popularity in strengthening diplomatic and trade relations between China and Malaysia.



Prior to this post, Bai was a deputy director-general at the Asian Department of the Ministry of Foreign Affairs in China taking charge of Asean and Malaysia since 2013.



Mah concurred with Bai’s optimism of rising bilateral trade when he forecast China is likely to re-emerge as Malaysia’s biggest palm oil client by 2020.



"Last year, China emerged as Malaysia’s No.1 client when it bought more than RM8 billion in rubber products.

"I think, in two years, we can see China re-emerge as our biggest palm oil client, too," said Mah. - NST

Posted by Mark T Bird > 2018-02-03 10:41 | Report Abuse

KTM Komuter schedule change to start tomorrow

KUALA LUMPUR (Feb 2): The Keretapi Tanah Melayu (KTM) commuter service, KTM Komuter, will operate according to a new schedule effective tomorrow, said its general manager, Khair Johari Ishak, today.

He said the change in the commuter service schedule was made in tandem with feedback obtained from consumers, as well as advice by the Land Public Transport Commission (SPAD).

The schedule change for the KTM Komuter is necessary to ensure a smoother service following the closure of one track between KL Sentral Station – Putra Station and Kuang Station – Sungai Buloh Station due to upgrading work of the Klang Valley Double Track (KVDT) project, which was scheduled for completion in November next year, he said in a statement today.

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He said KTM Bhd (KTMB) was committed to provide the best service for its customers.

The schedule change for the Port Klang – Tanjung Malim – Port Klang route involves frequency of the train, which will be every 30 minutes all day, from between 15 and 30 minutes during peak hour and 60 minutes during normal hour currently.

For the Pulau Sebang – Batu Caves – Pulau Sebang route, the direct service between the two destinations will be terminated from tomorrow, with the train from Pulau Sebang to end at the KL Sentral Station and then return to Pulau Sebang at a frequency of every 20 minutes during peak hour and between 30 and 90 minutes during normal hours, from tomorrow.

As for the train service from Batu Caves, it will end at Sentul Station and then return to Batu Caves, at a frequency of every 20 minutes during peak hour and 40 minutes during normal hour from tomorrow.

Feeder buses, with a frequency of 20 to 30 minutes, will be available for passengers intending to continue their journey to the Pulau Sebang or Batu Caves route from the Sentul Station or vice versa.

The change will also affect the direct train service to Pulau Sebang or Batu Caves for passengers taking the Komuter from the Kuala Lumpur, Bank Negara and Putra stations, as the service will be halted from tomorrow.

Commuters are advised to take the train from the Tanjung Malim route to the KL Sentral Station, or the Rapid KL train service (Sri Petaling route) as an alternative to their respective destinations, he said.

"KTMB highly appreciates and calls for understanding and support from loyal commuters of the KTM Komuter service during implementation of the KVDT project due to the inconvenience caused,” he added.

The public can refer or download the new schedule from the KTMB official website at www.ktmb.com.my or contact the KTMB Call Centre at 03-2267 1200 or twitter @ktm_berhad for further information.

THEEDGE

Posted by Cik Babe > 2018-02-03 10:45 | Report Abuse

Ini dah lama tukar, orang dok bising sebelum thaipusam lagi, dari port klang - batu caves, lama dah tak ada, baru sekarang nak war war kan turun kat KL Sentral. Ramai kawan2 dok cakap, kecuh tambah masa thaipusam tau. hehehe kutpai!

Posted by Cik Babe > 2018-02-03 14:35 | Report Abuse

pada yang stress, X payah lah gaduh2, main game ini lagi baik https://vegasworld.com/vg

KUTPAI!!

Posted by Mark T Bird > 2018-02-03 14:41 | Report Abuse

I know this game, tessa's fav game, when boredom strikes

Posted by Cik Babe > 2018-02-03 14:51 | Report Abuse

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