30 December 2011
KFC: Another KFC tussle? There may again be another tussle for control of the KFC fast food business in Malaysia. This time, the Malay Chamber of Commerce Malaysia (MCCM) is challenging a joint bid by Johor Corp (JCorp) and CVC Capital Partners Asia Pacific to acquire the assets and liabilities of QSR Brands Bhd and KFC Holdings (M) Bhd. MCCM would offer to buy QSR shares at RM6.90 each, thus beating the RM6.80 per share price offered by JCorp and CVC. (Source: The Star)
Transportation: MRT Corp inks deals with Jalan Inai residents. MRT Corp has sealed the Points of Agreement (POA) with owners of 21 plots of land in the Jalan Inai area affected by the MY Rapid Transit (MRT) project. The agreements are expected to resolve all outstanding issues faced by land owners with the MRT project, which connects Kajang and Sungai Buloh. (Source: Business Times)
Retail: Slower retailing as consumers turn cautious. Local retailers may experience slower growth next year, particularly because global economic developments are likely to affect Malaysia's export-oriented manufacturing sector (Source: The Star)
Media: Astro unit in JV with US firms. Astro's wholly-owned unit Celestial Pictures Ltd and two US-based companies - Saban Capital Group and Lionsgate - have set up Celestial Tiger Entertainment (CTE), an independent Asian media company focused on branded pay-TV channels, content creation and distribution across Asia. CTE offers pay channels to Asian consumers by combining Celestial Pictures' flagship channels, namely Celestial Movies, Celestial Classic Movies, Celestial Movies on Demand and three pay-TV channels of Tiger Gate Entertainment, a Lionsgate/Saban Capital partnership in Asia. (Source: The Sun)
Energy: New generation IPPs to draw familiar names. The fourth generation independent power producers (IPPs) are expected to attract bids from familiar names along with some new players. The commission is inviting applicants with previous experience in implementing power projects to submit their expressions of interest by Jan 12. (Source: The Edge Financial Daily)
(Information from MBB)
Friday, 30 December 2011
Wednesday, 28 December 2011
Local News: 28 December 2011
28 December 2011
WCT: In Vietnam property venture. WCT Bhd's wholly owned subsidiary WCT (S) Pte Ltd has been awarded an investment certificate by the People’s Committee of Ho Chi Minh City (HCMC) to undertake a residential and commercial mixed development in the Vietnamese city. The project, covering 46,577 sq m, would be at the new urban development area of Saigon South. WCT owns 70% of WCT-DPN Co Ltd that will develop and manage the project, while Southern Land Corp owns the remaining 30%. (Source: Bursa Malaysia)
Bumi Armada: Acquisition of asset. Bumi Armada Bhd's wholly-owned subsidiary, Bumi Armada Offshore Holdings Sdn Bhd (BAOHL) has exercised its option to purchase Rainbow River vessel for a cash consideration of RM68m. The acquisition will be completed upon the delivery of the vessel expected in the first quarter of 2012. (Source: Bursa Malaysia)
JCorp: Mulls hotel sales. Johor Corp (JCorp) is considering selling some of its hotel assets and reinvesting the money to drive earnings from its hospitality business. JCorp Hotels owns and manages five properties in Johor namely The Puteri Pacific Johor Bahru, Persada Johor International Convention Centre, Sibu Island Resort, Selesa Johor Bahru and Selesa Pasir Gudang, and one in Negri Sembilan, which is Selesa Port Dickson. (Source: Business Times)
Plantation: Felda on track to list by April. The plan to list Felda Global Ventures Holdings Sdn Bhd (FGVH) by April next year is on track, said its President and CEO Datuk Sabri Ahmad, amid mounting opposition from various groups claiming to represent the settlers' interests. FGVH is firm in its mission to get the listing done within the time frame. (Source: The Edge Financial Daily)
Energy: Bids for new power plant begin. The bidding process for the 4,500MW power generation to replace the capacity of the first-generation power purchase agreements (PPAs) and to cater to new demand beyond 2016 has started. The Energy Commission (EC) has issued a notice for prospective bidders for the development of a combined cycle gas turbine (CCGT) power plant in Peninsular Malaysia. The CCGT power plant was to sell its capacity and energy to Tenaga Nasional Bhd (TNB) under a new PPA. (Source: The Star)
(Information from MBB)
WCT: In Vietnam property venture. WCT Bhd's wholly owned subsidiary WCT (S) Pte Ltd has been awarded an investment certificate by the People’s Committee of Ho Chi Minh City (HCMC) to undertake a residential and commercial mixed development in the Vietnamese city. The project, covering 46,577 sq m, would be at the new urban development area of Saigon South. WCT owns 70% of WCT-DPN Co Ltd that will develop and manage the project, while Southern Land Corp owns the remaining 30%. (Source: Bursa Malaysia)
Bumi Armada: Acquisition of asset. Bumi Armada Bhd's wholly-owned subsidiary, Bumi Armada Offshore Holdings Sdn Bhd (BAOHL) has exercised its option to purchase Rainbow River vessel for a cash consideration of RM68m. The acquisition will be completed upon the delivery of the vessel expected in the first quarter of 2012. (Source: Bursa Malaysia)
JCorp: Mulls hotel sales. Johor Corp (JCorp) is considering selling some of its hotel assets and reinvesting the money to drive earnings from its hospitality business. JCorp Hotels owns and manages five properties in Johor namely The Puteri Pacific Johor Bahru, Persada Johor International Convention Centre, Sibu Island Resort, Selesa Johor Bahru and Selesa Pasir Gudang, and one in Negri Sembilan, which is Selesa Port Dickson. (Source: Business Times)
Plantation: Felda on track to list by April. The plan to list Felda Global Ventures Holdings Sdn Bhd (FGVH) by April next year is on track, said its President and CEO Datuk Sabri Ahmad, amid mounting opposition from various groups claiming to represent the settlers' interests. FGVH is firm in its mission to get the listing done within the time frame. (Source: The Edge Financial Daily)
Energy: Bids for new power plant begin. The bidding process for the 4,500MW power generation to replace the capacity of the first-generation power purchase agreements (PPAs) and to cater to new demand beyond 2016 has started. The Energy Commission (EC) has issued a notice for prospective bidders for the development of a combined cycle gas turbine (CCGT) power plant in Peninsular Malaysia. The CCGT power plant was to sell its capacity and energy to Tenaga Nasional Bhd (TNB) under a new PPA. (Source: The Star)
(Information from MBB)
Tuesday, 27 December 2011
Local News: 27 December 2011
27 December 2011
Maybank: Targets the rich. Malayan Banking Bhd (Maybank) has appointed an international management consultant to conduct a study on how it could develop the wealth management business to cater to the affluent market in the region. (Source: The Star)
Parkson: Regional expansion plan. Parkson Holdings Bhd, which last month made a SGD138m initial public offering (IPO) of its Southeast Asian unit in Singapore, is looking to expand its footprint into the Philippines, Thailand and Myanmar through acquisitions or greenfield projects as part of its plans to become one of the region's largest department store chains. (Source: The Sun)
Transportation: RM950m for new trains. The government has budgeted nearly RM1b on new trains for the Ampang light rail transit (LRT) line extension project and KTM Bhd. It is learnt that tenders for the supply of 20 sets of six-car electric commuter trains for the LRT project closed on December 12, attracting six bidders. Their bids range between RM550m and RM780m. The contract is expected to be awarded by April. (Source: Business Times)
Market: More Malaysian firms investing in the country. The era of local companies preferring to invest in overseas markets has come to an end, says Deputy International Trade and Industry Minister Datuk Mukhriz Mahathir. Local companies had seen a lot of excitement in the local economy due to the Economic Transformation Programme and the Entry Point Projects. Domestic direct investment (DDI) totalled RM19.7 b, or 48.4%, and foreign direct investment RM21b, or 51.6%, just slightly higher from that of October 2011. (Source: Business Times)
Renewable energy: List of RE quota. Sustainable Energy Development Authority (Seda) will soon publish renewable energy quota for feed-in approval (FiA) applications submitted this month. Under the Renewable Energy Act 2011, Tenaga Nasional Bhd is obliged to buy renewable power produced by licensed players at special rates. The rates are known as feed-in tariff, and referred to the idea of producers selling their energy to the power grid. It will list out the successful FiA applications, including details such as owner of the project, location as well as size. (Source: The Star)
(Information from MBB)
Maybank: Targets the rich. Malayan Banking Bhd (Maybank) has appointed an international management consultant to conduct a study on how it could develop the wealth management business to cater to the affluent market in the region. (Source: The Star)
Parkson: Regional expansion plan. Parkson Holdings Bhd, which last month made a SGD138m initial public offering (IPO) of its Southeast Asian unit in Singapore, is looking to expand its footprint into the Philippines, Thailand and Myanmar through acquisitions or greenfield projects as part of its plans to become one of the region's largest department store chains. (Source: The Sun)
Transportation: RM950m for new trains. The government has budgeted nearly RM1b on new trains for the Ampang light rail transit (LRT) line extension project and KTM Bhd. It is learnt that tenders for the supply of 20 sets of six-car electric commuter trains for the LRT project closed on December 12, attracting six bidders. Their bids range between RM550m and RM780m. The contract is expected to be awarded by April. (Source: Business Times)
Market: More Malaysian firms investing in the country. The era of local companies preferring to invest in overseas markets has come to an end, says Deputy International Trade and Industry Minister Datuk Mukhriz Mahathir. Local companies had seen a lot of excitement in the local economy due to the Economic Transformation Programme and the Entry Point Projects. Domestic direct investment (DDI) totalled RM19.7 b, or 48.4%, and foreign direct investment RM21b, or 51.6%, just slightly higher from that of October 2011. (Source: Business Times)
Renewable energy: List of RE quota. Sustainable Energy Development Authority (Seda) will soon publish renewable energy quota for feed-in approval (FiA) applications submitted this month. Under the Renewable Energy Act 2011, Tenaga Nasional Bhd is obliged to buy renewable power produced by licensed players at special rates. The rates are known as feed-in tariff, and referred to the idea of producers selling their energy to the power grid. It will list out the successful FiA applications, including details such as owner of the project, location as well as size. (Source: The Star)
(Information from MBB)
Weekly Equity Flyer: 27 December 2011 - Latexx & Supermax
27 December 2011
1. LATEXX PARTNERS BERHAD (stock code: 7064)
Latexx 3Q net profit falls 27.8% to RM12.73m
Latexx Partners Bhd's net profit for the third quarter ended Sept 30, 2011 fell 27.8% to RM12.73 million from RM17.63 million a year earlier, due mainly to the persistently high raw material prices and the weaker US dollar. The company said that its revenue for the quarter slipped 6.2% to RM121.81 million from RM129.88 million in 2010. Earnings per share decreased to 5.17 sen compared to 8.19 sen in 2010, while net assets per share was RM1.23.
Did you know?
The company is currently on an aggressive expansion plan. The current capacity is 6 billion pieces of gloves annually. By 2013, a target of 12 billion gloves is set. And, by year 2015 to achieve a shipment target of 15 billion gloves per annum.
Rationale
Latexx is highlighted this week based on the following points: -
Currently trading at a Low P/E of 7.9x
High Return on Equity (ROE) of 32.4%
High Return on Capital (ROC) of 23.8%
High Return on Asset (ROA) of 17.9%
2. SUPERMAX CORPORATION BERHAD (stock code: 7106)
Supermax to grow sales with additional capacity
Glovemaker Supermax Corporation Berhad is looking at growing its sales with the expansion of its capacity. It also hopes to set up a distribution centre in China to expand its presence there. Executive chairman and managing director Datuk Seri Stanley Thai told a media briefing Supermax expects additional capacity for surgical gloves from its Lot 42 plant. This could bump its output to 336 million pairs of surgical gloves per year from 30 million currently. The additional sales are expected to be around US$67.2 million (RM200 million) with a 15% profit margin, which could yield a profit of some US$10.1 million, he said.
Did you know?
Supermax Group produces up to 16 billions pieces of gloves per year, meeting approximately 11% of the world demand for latex examination gloves. Supermax Group has nine (9) manufacturing plants based in Malaysia equipped with the state-of-the-art machinery, energy-saving biomass system and a research and development centre.
Rationale
Supermax is highlighted in this week's flyer based on these points: -
Currently trades at 11x PE which is lower than the industry average of 14.16x
High ROA, ROE and ROC of 15.8%, 25.4%, and 18.6% respectively
Happy Trading!
(Information from MBB)
Weekly Equity Flyer: 19 December 2011
19 December 2011
Two counters highlighted in this week's equities flyer:-
1. V.S. INDUSTRY BERHAD (stock code: 6963)
VS Industry invests RM30 million in Johor
Integrated electronic manufacturing services (EMS) provider V.S. Industry Bhd has invested about RM30 million to produce Keurig single-cup coffee brewer machines in Senai, Johor. The dedicated 2.4ha facility will see VS Industry producing Keurig Inc’s single-cup brewers and accessories for exports to North America. The facility’s 200,000 square feet area will also be used for its packing, logistic and storage.
Did you know?
VS Industry Berhad Malaysia has over 27 years of Multi-products OEM contract manufacturing/EMS experiences. VS is among the top 50 Contract Manufacturing services providers in the world. Its operations locate in Malaysia, Indonesia, Vietnam and China employing over 15,000 workers and operating on more than 5 millions sq. ft. of manufacturing space and still adding.
Rationale
VS is highlighted this week based on the following points: -
Low Historical P/E of 9.6x with a forward P/E of 4.0x
Currently trading at a low P/B of 0.69x
Increasing Revenue and EPS since 2009
High dividend yield of 6.08%
2.METRO KAJANG HOLDINGS BERHAD (stock code: 6114)
The Group’s revenue for the fourth quarter ended 30 September 2011 increased by 74% to RM125.2 million
The Group’s revenue for the fourth quarter ended 30 September 2011 increased by 74% to RM125.2 million compared to the preceding year corresponding quarter of RM71.8 million. The profit before tax increased by 14% to RM20.1 million compared to the preceding year corresponding quarter of RM17.7 million due to principally higher profit contribution from the associated company and higher percentage of profit recognition of on-going and new projects from the property and construction division. However, the higher profit contribution from the property and construction division was reduced by the higher administrative and other expenses incurred by the plantation division.
Did you know?
The MKH Group comprises of 48 subsidiaries and 1 associate company and are principally involved in property development, hospitality services, investment holding and furniture manufacturing. The MKH Group has completed over 20,000 units of properties and is well known as a reputable property developer, especially in Kajang. In addition, the Group also operates a hotel (Prescott Metro Inn) and 2 shopping complexes (Plaza Metro Kajang and Metro Point Complex) in Kajang town itself.
Rationale
MKH is highlighted in this week's flyer based on these points: -
Currently trading at a low P/B of 0.59x
Low P/E of 11.32x in comparison to the KLCI of 15.75x
Thank you & Happy Trading!
(Information from MBB)
Friday, 23 December 2011
Today Trading idea is an Accumulate call on MKH
16 Dec 2011
Metro Kajang Holdings Berhad (MKH) is an investment holding company which provides project and building and develops property. The company operates employment agency, provides cleaning services, and operates a recreational club. It also provides building and civil works engineering and money lending services.
MKH made a major daily Wave C low of RM1.25 on 26 September 2011, with oversold and bullish divergent signals. Furthermore, all of its positive indicators are strongly supportive of much further upside. We feel that MKH will surge in the period mentioned above.
SHORT-TERM BUY (TECHNICAL) on dips for MKH with its firm support areas of RM1.40 and RM1.64. The potential Wave 3 & 5 upside target areas is located at RM1.84, RM1.95 and RM1.99. Stop-loss is at RM1.38.
Some trading stocks that we like are: BOXPAK,
CARLSBG, IGB, GAB, KPJ, LIONFIB, METROK, TM,
and VS.
FBM KLCI: Key Points
MKH – Inching up nicely & clearly too
FBMKLCI – Liquidate on rallies
Weaker supports of 1,447 & 1,462
1,464 & 1,490 will cap the rebounds
(Information from MBB)
Today Trading Idea is a Short-Term Buy call on VS.
15 Dec 2011
V.S. Industry Berhad (VS) manufactures, assembles, and sell plastic molded parts and electronics parts and components such as speakers and remote controls. It also markets, distributes, and sells plastic household products. It also operates a palm oil plantation.
VS made a major daily Wave 5 low of RM1.21 on 26 September 2011, with oversold and bullish divergent signals. Furthermore, all of its positive indicators are strongly supportive of much further upside. We feel that VS will surge in the period mentioned above.
SHORT-TERM BUY (TECHNICAL) on dips for VS with its firm support areas of RM1.30 and RM1.48. The potential Wave 5 upside target areas is located at RM1.60 and RM1.80. Stop-loss is at RM1.28.
Some trading stocks that we like are: BOXPAK,
CARLSBG, IGB, F&N, GAB, JTINTER, KPJ,
LIONFIB, METROK, TM, TWSPLNT and VS.
FBM KLCI: Key Points
(Information from MBB)
V.S. Industry Berhad (VS) manufactures, assembles, and sell plastic molded parts and electronics parts and components such as speakers and remote controls. It also markets, distributes, and sells plastic household products. It also operates a palm oil plantation.
VS made a major daily Wave 5 low of RM1.21 on 26 September 2011, with oversold and bullish divergent signals. Furthermore, all of its positive indicators are strongly supportive of much further upside. We feel that VS will surge in the period mentioned above.
SHORT-TERM BUY (TECHNICAL) on dips for VS with its firm support areas of RM1.30 and RM1.48. The potential Wave 5 upside target areas is located at RM1.60 and RM1.80. Stop-loss is at RM1.28.
Some trading stocks that we like are: BOXPAK,
CARLSBG, IGB, F&N, GAB, JTINTER, KPJ,
LIONFIB, METROK, TM, TWSPLNT and VS.
FBM KLCI: Key Points
- VS – Inching up nicely & clearly
- FBMKLCI – Liquidate on rallies
- Weaker supports of 1,445 & 1,459
- 1,463 & 1,490 will cap the rebounds
(Information from MBB)
Today Trading idea is a Short-Term Buy call on TWSPLNT.
14 Dec 2011
Tradewinds Plantation Berhad (TWSPLNT) is an investment holding company. The company, through its subsidiaries, cultivates oil palm, rubber, and animal husbandry, processes palm oil and kernel, and provides landscaping consultancy, design, and contract works.
TWSPLNT made a major daily Wave 4 low of RM2.65 on 8 August 2011, with oversold and bullish signals. Furthermore, all its positive indicators are strongly supportive of much further upside. We feel that TWSPLNT will surge in the period mentioned above.
SHORT-TERM BUY (TECHNICAL) on dips for TWSPLNT with its firm support areas of RM4.25 and RM4.68. The potential Wave 3 & 5 upside target areas is located at RM5.14 and RM6.35. Stop-loss is at RM4.23.
Some trading stocks that we like are: BERNAS, CARLSBG,
DLADY, IGB, F&N, GENP, GAB, JTINTER, KPJ, MBSB,
NESTLE, ORIENT, SOP, TM and TWSPLNT.
FBM KLCI: Key Points
(Information from MBB)
Tradewinds Plantation Berhad (TWSPLNT) is an investment holding company. The company, through its subsidiaries, cultivates oil palm, rubber, and animal husbandry, processes palm oil and kernel, and provides landscaping consultancy, design, and contract works.
TWSPLNT made a major daily Wave 4 low of RM2.65 on 8 August 2011, with oversold and bullish signals. Furthermore, all its positive indicators are strongly supportive of much further upside. We feel that TWSPLNT will surge in the period mentioned above.
SHORT-TERM BUY (TECHNICAL) on dips for TWSPLNT with its firm support areas of RM4.25 and RM4.68. The potential Wave 3 & 5 upside target areas is located at RM5.14 and RM6.35. Stop-loss is at RM4.23.
Some trading stocks that we like are: BERNAS, CARLSBG,
DLADY, IGB, F&N, GENP, GAB, JTINTER, KPJ, MBSB,
NESTLE, ORIENT, SOP, TM and TWSPLNT.
FBM KLCI: Key Points
- TWSPLNT – Another firm surge to new highs
- FBMKLCI – Uncertainty may prevail
- Weaker supports of 1,448 & 1,462
- 1,467 & 1,493 will cap the rebounds
(Information from MBB)
Trading Idea is a Short-term Buy call on IGB.
13 December 2011
IGB Corporation Berhad (IGB) is an investment holding and property development company. Through its subsidiaries, the company has operations in hotel management, project management, and provides construction services.
IGB made a major daily Wave 5 low of RM1.75 on 4 October 2011, with oversold and bullish divergent signals. Furthermore, most of its positive indicators are strongly supportive of much further upside. We feel that IGB will surge in the period mentioned above.
SHORT-TERM BUY (TECHNICAL) on dips for IGB with its firm support areas of RM2.00 and RM2.25. The potential Wave 3 & 5 upside target areas is located at RM2.57, RM3.01 and RM3.55. Stop-loss is at RM1.98.
Some trading stocks that we like are: CARLSBG, DLADY,
IGB, GENP, GAB, KPJ, NESTLE, ORIENT, SOP, TM and
TWSPLNT.
FBM KLCI: Key Points
(Information from MBB)
IGB Corporation Berhad (IGB) is an investment holding and property development company. Through its subsidiaries, the company has operations in hotel management, project management, and provides construction services.
IGB made a major daily Wave 5 low of RM1.75 on 4 October 2011, with oversold and bullish divergent signals. Furthermore, most of its positive indicators are strongly supportive of much further upside. We feel that IGB will surge in the period mentioned above.
SHORT-TERM BUY (TECHNICAL) on dips for IGB with its firm support areas of RM2.00 and RM2.25. The potential Wave 3 & 5 upside target areas is located at RM2.57, RM3.01 and RM3.55. Stop-loss is at RM1.98.
Some trading stocks that we like are: CARLSBG, DLADY,
IGB, GENP, GAB, KPJ, NESTLE, ORIENT, SOP, TM and
TWSPLNT.
FBM KLCI: Key Points
- IGB – A firm Wave 3 surge
- FBMKLCI – Uncertainty may prevail
- Weaker supports of 1,447 & 1,467
- 1,470 & 1,494 will cap the rebounds
(Information from MBB)
Monday, 12 December 2011
Today The TRADING IDEA is a SHORT-TERM BUY call on ORIENT
12 December 2011
Oriental Holdings Berhad (ORIENT) is an investment holding company whose subsidiaries distribute and assemble motor vehicles, manufacture motor cycles and bicycle components. It also develops properties, processes rubber and oil palm, sells concrete products, electrical components, and motor parts.
ORIENT reached a significant major weekly Wave 4 low at RM4.30 in late November 2011 with grossly oversold and bullish chart signals. Due to most of its positive indicators, it is likely to surge to its obvious upside Wave 3 and 5 targets (of RM5.17 and RM5.42) and resistance levels above.
SHORT-TERM BUY (TECHNICAL) on dips for ORIENT, with stop-loss at RM4.48.
The weekly indicators (like the CCI, DMI, MACD and Stochastic) are firmly positive and now depict the fine indications of ORIENT’s prolonged price strength. We expect ORIENT to remain very firm on any weakness (or retracement) to its support levels of RM4.50 and RM4.88. It will attract some minor selling at the key resistance levels of RM5.07 and RM5.48. Our technical upside targets for ORIENT are RM5.17 and RM5.42. Its stop-loss level is at RM4.48.
(Information from MBB)
Oriental Holdings Berhad (ORIENT) is an investment holding company whose subsidiaries distribute and assemble motor vehicles, manufacture motor cycles and bicycle components. It also develops properties, processes rubber and oil palm, sells concrete products, electrical components, and motor parts.
ORIENT reached a significant major weekly Wave 4 low at RM4.30 in late November 2011 with grossly oversold and bullish chart signals. Due to most of its positive indicators, it is likely to surge to its obvious upside Wave 3 and 5 targets (of RM5.17 and RM5.42) and resistance levels above.
SHORT-TERM BUY (TECHNICAL) on dips for ORIENT, with stop-loss at RM4.48.
The weekly indicators (like the CCI, DMI, MACD and Stochastic) are firmly positive and now depict the fine indications of ORIENT’s prolonged price strength. We expect ORIENT to remain very firm on any weakness (or retracement) to its support levels of RM4.50 and RM4.88. It will attract some minor selling at the key resistance levels of RM5.07 and RM5.48. Our technical upside targets for ORIENT are RM5.17 and RM5.42. Its stop-loss level is at RM4.48.
(Information from MBB)
Local News: 12 December 2011
12 December 2011
PAAB: restructuring about two-thirds of the RM6b Selangor water bonds. PAAB, is likely to restructure only about two-thirds of the amount outstanding for the RM6b Selangor water bonds Among the issuers, SYABAS is able to serve its coupon and principal payments. PAAB has met up with the other issuers- Splash and, Puncak Niaga Holdings and Kumpulan Perangsang Selangor - on the mode of restructuring that will probably on a matching basis. To fund the massive purchase, PAAB has issued its own bonds of a similar amount, paying an average coupon rate of 4.0%-4.5%. (Source: The Star)
Khazanah selling Proton stake to DRB-Hicom. Khazanah is selling its 42.7% stake in Proton Holdings Bhd to DRB-Hicom Bhd. It has been reported that Khazanah had approached Sime Darby Motors, the Naza Group, Hyundai-Berjaya Sdn Bhd, DRB Hicom and UMW Holdings Bhd. So far, only DRB-Hicom had expressed interest in Khazanah's proposal. (Source: The Star)
Ekovest Bhd: Set to gain most. Ekovest Bhd is expected to be the prime beneficiary of the RM2.2b River of Life (ROL) project, given that the company has a 60% stake in the joint-venture company with MRCB, which was recently appointed the project delivery partner (PDP). The JV-company is also eyeing RM1b works for the beautification works portion of the ROL project and could potentially secure a bigger role of cleaning up the 10.7km river over 3 years. (Source: The Star)
Ta Ann Holdings: looking at PNG expansion. TA Ann Holdings Bhd, having planted three quarters of its 45,000ha agricultural landbank in Sarawak, is looking to venture into Papua New Guinea. Headquartered here, the group ventured into oil palm planting in 2000. Within 11 years, it has planted 75 per cent of its plantable landbank. Eight months ago, Ta Ann had forecast 380,000 tonnes of fresh fruit bunches at its Sarawak estates for the year. However, its trees are fruiting well and the company is reaping bumper harvest, with Wong now expecting the company to harvest 450,000 tonnes. (Source: News Straits Times)
UDA Holdings: To build affordable shoplots. UDA Holdings Bhd will build affordable shoplots at 15 strategic locations with a RM30m allocation provided by the government. Cost for each location would only be RM2m on average as the sites would be provided by local authorities. Construction for each project will only take 8 months and once completed, UDA will hand it to the respective local authorities. (Source: News Straits Times)
(Information from MBB)
PAAB: restructuring about two-thirds of the RM6b Selangor water bonds. PAAB, is likely to restructure only about two-thirds of the amount outstanding for the RM6b Selangor water bonds Among the issuers, SYABAS is able to serve its coupon and principal payments. PAAB has met up with the other issuers- Splash and, Puncak Niaga Holdings and Kumpulan Perangsang Selangor - on the mode of restructuring that will probably on a matching basis. To fund the massive purchase, PAAB has issued its own bonds of a similar amount, paying an average coupon rate of 4.0%-4.5%. (Source: The Star)
Khazanah selling Proton stake to DRB-Hicom. Khazanah is selling its 42.7% stake in Proton Holdings Bhd to DRB-Hicom Bhd. It has been reported that Khazanah had approached Sime Darby Motors, the Naza Group, Hyundai-Berjaya Sdn Bhd, DRB Hicom and UMW Holdings Bhd. So far, only DRB-Hicom had expressed interest in Khazanah's proposal. (Source: The Star)
Ekovest Bhd: Set to gain most. Ekovest Bhd is expected to be the prime beneficiary of the RM2.2b River of Life (ROL) project, given that the company has a 60% stake in the joint-venture company with MRCB, which was recently appointed the project delivery partner (PDP). The JV-company is also eyeing RM1b works for the beautification works portion of the ROL project and could potentially secure a bigger role of cleaning up the 10.7km river over 3 years. (Source: The Star)
Ta Ann Holdings: looking at PNG expansion. TA Ann Holdings Bhd, having planted three quarters of its 45,000ha agricultural landbank in Sarawak, is looking to venture into Papua New Guinea. Headquartered here, the group ventured into oil palm planting in 2000. Within 11 years, it has planted 75 per cent of its plantable landbank. Eight months ago, Ta Ann had forecast 380,000 tonnes of fresh fruit bunches at its Sarawak estates for the year. However, its trees are fruiting well and the company is reaping bumper harvest, with Wong now expecting the company to harvest 450,000 tonnes. (Source: News Straits Times)
UDA Holdings: To build affordable shoplots. UDA Holdings Bhd will build affordable shoplots at 15 strategic locations with a RM30m allocation provided by the government. Cost for each location would only be RM2m on average as the sites would be provided by local authorities. Construction for each project will only take 8 months and once completed, UDA will hand it to the respective local authorities. (Source: News Straits Times)
(Information from MBB)
Thursday, 8 December 2011
Local News: 08 December 2011
08 December 2011
Pavilion REIT: Seeks expansion. CEO Philip Ho of Pavilion REIT Management Sdn Bhd, the largest retail REIT in Malaysia, said the trust is seeking opportunities to expand its assets in Penang, Johor and the Klang Valley. It was also said that the company's trustees had signed three rights of first refusal (ROFR) to acquire Farenheit88, the Pavilion Mall's extension, and a mall in USJ Subang Jaya. (Source: Business Times)
Toyoink: Gets nod for R&D on USD2.5b Viet power plant. Ink manufacturer Toyoink Group Bhd has been given the green light by the Vietnamese government to conduct R&D on a proposed USD2.5b (RM7.8b) thermal power plant in the country. Named the Song Hau 2 thermo power plant, it is slated to have a capacity of 2x1000 MW and will be located at the Song Hau power centre in Hau Giang province. (Source: The Edge Financial Daily)
DRB Hicom: DRB Hicom, Volkswagen likely to have a share control in Proton. DRB Hicom Bhd's bid for control over Proton Holdings is likely to include the presence of Volkswagen AG at a later stage according to a reliable source. DRB Hicom's plan is to first secure a controlling block in Proton and subsequently divest some of its equity to Volkswagen resulting in both parties sharing control. (Source: The Star)
Bumi Armada: To get USD300m loans. Offshore oilfield services provider Bumi Armada Bhd will sign agreements for financing facilities exceeding USD300m (RM936.69m) today. The agreement is with several financial institutions, which are not named in the note. (Source: The Star)
Sanichi: Ties up with FIRC. Precision mould fabricator Sanichi Technology Bhd is forming an alliance with FIRC Trade (M) Sdn Bhd to venture into the business of mining and supplying minerals. The joint venture was currently on "paper terms" and investment is yet to be decided. It was also said that the amount of investment in the joint venture would be decided upon its first business received from the partnership. (Source: The Star)
Media: The Malay Mail to hit the streets in the morning. The Malay Mail will hit the streets as a mainstream morning national newspaper starting January. It promises a good read, including investigative reporting on issues of concern to readers, led by its editor (news) Terence Fernandez. (Source: Malaysian Reserve)
(Information from MBB)
Pavilion REIT: Seeks expansion. CEO Philip Ho of Pavilion REIT Management Sdn Bhd, the largest retail REIT in Malaysia, said the trust is seeking opportunities to expand its assets in Penang, Johor and the Klang Valley. It was also said that the company's trustees had signed three rights of first refusal (ROFR) to acquire Farenheit88, the Pavilion Mall's extension, and a mall in USJ Subang Jaya. (Source: Business Times)
Toyoink: Gets nod for R&D on USD2.5b Viet power plant. Ink manufacturer Toyoink Group Bhd has been given the green light by the Vietnamese government to conduct R&D on a proposed USD2.5b (RM7.8b) thermal power plant in the country. Named the Song Hau 2 thermo power plant, it is slated to have a capacity of 2x1000 MW and will be located at the Song Hau power centre in Hau Giang province. (Source: The Edge Financial Daily)
DRB Hicom: DRB Hicom, Volkswagen likely to have a share control in Proton. DRB Hicom Bhd's bid for control over Proton Holdings is likely to include the presence of Volkswagen AG at a later stage according to a reliable source. DRB Hicom's plan is to first secure a controlling block in Proton and subsequently divest some of its equity to Volkswagen resulting in both parties sharing control. (Source: The Star)
Bumi Armada: To get USD300m loans. Offshore oilfield services provider Bumi Armada Bhd will sign agreements for financing facilities exceeding USD300m (RM936.69m) today. The agreement is with several financial institutions, which are not named in the note. (Source: The Star)
Sanichi: Ties up with FIRC. Precision mould fabricator Sanichi Technology Bhd is forming an alliance with FIRC Trade (M) Sdn Bhd to venture into the business of mining and supplying minerals. The joint venture was currently on "paper terms" and investment is yet to be decided. It was also said that the amount of investment in the joint venture would be decided upon its first business received from the partnership. (Source: The Star)
Media: The Malay Mail to hit the streets in the morning. The Malay Mail will hit the streets as a mainstream morning national newspaper starting January. It promises a good read, including investigative reporting on issues of concern to readers, led by its editor (news) Terence Fernandez. (Source: Malaysian Reserve)
(Information from MBB)
Today Trading Idea for today is a SHORT TERM BUY call on ORIENT
08 December 2011
Oriental Holdings Berhad (ORIENT) is an investment holding company whose subsidiaries distribute and assemble motor vehicles, manufacture motor cycles and bicycle components. It also develops properties, processes rubber and oil palm, sells concrete products, electrical components, and motor parts.
ORIENT made a major daily Wave 5 low of RM4.30 on 21 October 2011, with oversold and bullish divergent signals. Furthermore, all its positive indicators are very supportive of much further upside. We feel that ORIENT will surge in the period mentioned above.
SHORT-TERM BUY (TECHNICAL) on retracement (to RM4.73 and RM4.83) for ORIENT with its firm support areas of RM4.50 and RM4.85. The potential Wave 3 & 5 upside target areas is located at RM5.15, RM5.25 and RM5.50. Stop-loss is at RM4.48.
FBM KLCI: Key Points
Some trading stocks that we like are: AEONCR, AFG,
ARMADA, AXIATA, BSTEAD, CARLSBG, CBIP, CIMB,
GAMUDA, GENP, KFIMA, KPJ, LIONIND, LONBISC,
ORIENT, RSAWIT, TM and UEMLAND.
(Information from MBB)
Oriental Holdings Berhad (ORIENT) is an investment holding company whose subsidiaries distribute and assemble motor vehicles, manufacture motor cycles and bicycle components. It also develops properties, processes rubber and oil palm, sells concrete products, electrical components, and motor parts.
ORIENT made a major daily Wave 5 low of RM4.30 on 21 October 2011, with oversold and bullish divergent signals. Furthermore, all its positive indicators are very supportive of much further upside. We feel that ORIENT will surge in the period mentioned above.
SHORT-TERM BUY (TECHNICAL) on retracement (to RM4.73 and RM4.83) for ORIENT with its firm support areas of RM4.50 and RM4.85. The potential Wave 3 & 5 upside target areas is located at RM5.15, RM5.25 and RM5.50. Stop-loss is at RM4.48.
FBM KLCI: Key Points
- ORIENT – Beginning of a large surge
- FBMKLCI – “Gap-filling” completed
- Obvious supports of 1,465 & 1,482
- 1,484 & 1,503 will cap the rebounds
Some trading stocks that we like are: AEONCR, AFG,
ARMADA, AXIATA, BSTEAD, CARLSBG, CBIP, CIMB,
GAMUDA, GENP, KFIMA, KPJ, LIONIND, LONBISC,
ORIENT, RSAWIT, TM and UEMLAND.
(Information from MBB)
Wednesday, 7 December 2011
Local News: 07 December 2011
07 December 2011
AirAsia: Wants SLA for KLIA2. AirAsia Bhd wants MAHB to implement its requests by providing a service level agreement (SLA) which should incorporate aeronautical charges at KLIA2. Correspondingly, MAHB has responded positively to the request for SLA. AirAsia has asked for a full and parallel taxiway to Runway 2 that can save the airline some RM40m in additional fuel cost yearly. (Source: The Edge Financial Daily)
MAS: New revamp plan. MAS has put together yet another business plan to turn itself around. It is learnt that the new management of the national carrier, which had undergone several revamps, has been working on the plan for the past two months. This time the focus is on growing the routes in Asia, improving on products, cutting unprofitable routes and forming alliances with more airlines according to a source. (Source: The Star)
Maybank: Assets under custody set to grow 20%. Maybank expects its new eCustody service to grow assets under custody by 20% next year, from RM50b at June 30 this year. eCustody is an online module within Maybank's enterprise cash management portal, Maybank2E.net. Deputy president and head of global wholesale banking Abdul Farid Alias said that Maybank's local and international assets under custody stood at RM37b at June 30, 2010. (Source: The Star)
Ekovest, MRCB: JV gets River of Life project. Ekovest-MRCB JV Sdn Bhd, a 60:40-JV between Ekovest Bhd and MRCB has finally been appointed the project delivery partner (PDP) for the RM2.2b Klang river rehabilitation and beutification project known as the River of Life project. The JV as the PDP will receive 1% of the estimated value of the project of RM2.2b as compensation for managing and coordinating. (Source: The Edge Financial Daily)
Wijaya: To start Papua timber ops by April. Wijaya Baru Global Bhd, which won shareholders' approval today to acquire a 80,000ha timber concession in Papua province, Indonesia for USD80m (RM252.6m), hopes to start extracting logs from the area by April next year. The target is to harvest RM727m worth of timber in the first year of operation. Group CEO and executive director Datuk Faizal Abdullah said the company will need another RM40m to build up the necessary infrastructure at the site, including a RM10m sawmill. (Source: The Sun)
Guocoland: Buys Cheras land for RM108m. Guocoland Bhd said today an indirect wholly-owned unit Ace Acres Sdn Bhd has proposed to acquire an 18.9ha parcel of land in Cheras here from Bonds Corporation Sdn Bhd for RM107.9m. The property consists of nine parcels of contiguous land sandwiched between Alam Damai and Bandar Damai PerdanaTaman. The transaction valued the land at RM53 per sq ft. (Source: The Sun)
(Information from MBB)
AirAsia: Wants SLA for KLIA2. AirAsia Bhd wants MAHB to implement its requests by providing a service level agreement (SLA) which should incorporate aeronautical charges at KLIA2. Correspondingly, MAHB has responded positively to the request for SLA. AirAsia has asked for a full and parallel taxiway to Runway 2 that can save the airline some RM40m in additional fuel cost yearly. (Source: The Edge Financial Daily)
MAS: New revamp plan. MAS has put together yet another business plan to turn itself around. It is learnt that the new management of the national carrier, which had undergone several revamps, has been working on the plan for the past two months. This time the focus is on growing the routes in Asia, improving on products, cutting unprofitable routes and forming alliances with more airlines according to a source. (Source: The Star)
Maybank: Assets under custody set to grow 20%. Maybank expects its new eCustody service to grow assets under custody by 20% next year, from RM50b at June 30 this year. eCustody is an online module within Maybank's enterprise cash management portal, Maybank2E.net. Deputy president and head of global wholesale banking Abdul Farid Alias said that Maybank's local and international assets under custody stood at RM37b at June 30, 2010. (Source: The Star)
Ekovest, MRCB: JV gets River of Life project. Ekovest-MRCB JV Sdn Bhd, a 60:40-JV between Ekovest Bhd and MRCB has finally been appointed the project delivery partner (PDP) for the RM2.2b Klang river rehabilitation and beutification project known as the River of Life project. The JV as the PDP will receive 1% of the estimated value of the project of RM2.2b as compensation for managing and coordinating. (Source: The Edge Financial Daily)
Wijaya: To start Papua timber ops by April. Wijaya Baru Global Bhd, which won shareholders' approval today to acquire a 80,000ha timber concession in Papua province, Indonesia for USD80m (RM252.6m), hopes to start extracting logs from the area by April next year. The target is to harvest RM727m worth of timber in the first year of operation. Group CEO and executive director Datuk Faizal Abdullah said the company will need another RM40m to build up the necessary infrastructure at the site, including a RM10m sawmill. (Source: The Sun)
Guocoland: Buys Cheras land for RM108m. Guocoland Bhd said today an indirect wholly-owned unit Ace Acres Sdn Bhd has proposed to acquire an 18.9ha parcel of land in Cheras here from Bonds Corporation Sdn Bhd for RM107.9m. The property consists of nine parcels of contiguous land sandwiched between Alam Damai and Bandar Damai PerdanaTaman. The transaction valued the land at RM53 per sq ft. (Source: The Sun)
(Information from MBB)
Today Trading idea is an Accumulate call for BOILERM
07 December 2011
Boilermech Holding Berhad (BOILERM) manufactures, repairs and refurbishes boilers. The company primarily serves the palm oil milling industry, but has also designed boilers for the sugar milling, rubber-based manufacturing, food processing, and palm oil refining industries.
BOILERM made a major daily Wave 2 low of RM0.58 on 26 September 2011, with oversold and bullish signals. Furthermore, the positive indicators of the CCI, DMI, MACD, Stochastic and Oscillator indicators are supportive of much further upside. We feel that BOILERM will surge in the period mentioned above.
ACCUMULATE (TECHNICAL) on dips for BOILERM with its firm support areas of RM0.72 and RM0.82. The potential Wave 3 & 5 upside target areas is located at RM0.98, RM1.23 and RM1.51. Stop-loss is at RM0.70.
FBM KLCI: Key Points
Some trading stocks that we like are: AEONCR, AFG,
ARMADA, CARLSBG, GENP, GENTING, KFIMA,
MBFHLDG, MUDA, ORIENT, TM, TWSPLNT and WIJAYA.
(Information from MBB)
Boilermech Holding Berhad (BOILERM) manufactures, repairs and refurbishes boilers. The company primarily serves the palm oil milling industry, but has also designed boilers for the sugar milling, rubber-based manufacturing, food processing, and palm oil refining industries.
BOILERM made a major daily Wave 2 low of RM0.58 on 26 September 2011, with oversold and bullish signals. Furthermore, the positive indicators of the CCI, DMI, MACD, Stochastic and Oscillator indicators are supportive of much further upside. We feel that BOILERM will surge in the period mentioned above.
ACCUMULATE (TECHNICAL) on dips for BOILERM with its firm support areas of RM0.72 and RM0.82. The potential Wave 3 & 5 upside target areas is located at RM0.98, RM1.23 and RM1.51. Stop-loss is at RM0.70.
FBM KLCI: Key Points
- BOILERM – On a very strong Wave 3 surge
- FBMKLCI – “Gap-filling” decline
- Obvious supports of 1,458 & 1,477
- 1,480 & 1,503 will cap the rebounds
Some trading stocks that we like are: AEONCR, AFG,
ARMADA, CARLSBG, GENP, GENTING, KFIMA,
MBFHLDG, MUDA, ORIENT, TM, TWSPLNT and WIJAYA.
(Information from MBB)
Weekly Equity Flyer: 06 December 2011
06 December 2011
1. TRADEWINDS (MALAYSIA) BERHAD (stock code: 4421)
Tradewinds registered an increase in performance for the financial period ended 30th September 2011
For the financial period ended 30.09.11, the Group’s revenue increased to RM1.7 billion from RM1.4 billion in the corresponding quarter last year. The increase in revenue was contributed by favourable performance of the Rice, Plantation and Sugar Divisions. This had also resulted in the increase in profit before taxation to RM234.9 million during the current quarter as compared to RM233.7 million in the same quarter last year.
Did you know?
Tradewinds, through its subsidiary, BERNAS has positioned itself as the nation's partner in the domestic paddy and rice industry. BERNAS and its group of companies currently control about 24% of the paddy market and 45% of the local rice demand.
Rationale
TRADEWINDS is highlighted this week based on the following points: -
2. SEMBCORP INDUSTRIES LIMITED (stock code: 022053981) Sembcorp Delivers Healthy 9M2011 Performance
SembCorp Industries Limited (Sembcorp) achieved a healthy 5% increase in net profit (Net Profit) attributable to shareholders of the Company before exceptional items for the first nine months of 2011 (9M2011). Group Net Profit increased to S$557.4 million from 9M2010’s S$532.1 million. This excludes the Group’s share of Marine’s exceptional item of S$32.1 million in 9M2010. The Utilities business sustained its strong performance into 9M2011. Net Profit grew 22% and contribution to the Group’s Net Profit increased to 38% compared to 31% last year. The Marine business achieved a Net Profit of S$317.9 million compared to S$347.0 million in 9M2010.
Did you know?
Sembcorp Industries is a leading energy, water and marine group operating across six continents worldwide. With facilities with 5,600 megawatts of gross power capacity and over six million cubic metres of water per day in operation and under development, Sembcorp is a trusted provider of essential energy and water solutions to both industrial and municipal customers. It is also a world leader in marine and offshore engineering, as well as an established developer of integrated townships and industrial parks.The Group has total assets of over S$10 billion and employs over 9,000 employees. Listed on the main board of the Singapore Exchange, it is a component stock of the Straits Times Index and several MSCI indices.
Rationale
SEMBCORP is highlighted in this week's flyer based on these points: -
Happy Trading!
1. TRADEWINDS (MALAYSIA) BERHAD (stock code: 4421)
Tradewinds registered an increase in performance for the financial period ended 30th September 2011
For the financial period ended 30.09.11, the Group’s revenue increased to RM1.7 billion from RM1.4 billion in the corresponding quarter last year. The increase in revenue was contributed by favourable performance of the Rice, Plantation and Sugar Divisions. This had also resulted in the increase in profit before taxation to RM234.9 million during the current quarter as compared to RM233.7 million in the same quarter last year.
Did you know?
Tradewinds, through its subsidiary, BERNAS has positioned itself as the nation's partner in the domestic paddy and rice industry. BERNAS and its group of companies currently control about 24% of the paddy market and 45% of the local rice demand.
Rationale
TRADEWINDS is highlighted this week based on the following points: -
- Very low PE of 5.3x
- Great ROE of 24.6%
- Surging revenue & EPS trends since 2009
- Very high dividend yield (DY) of 6%
- Tightly held stock by its major shareholders.
2. SEMBCORP INDUSTRIES LIMITED (stock code: 022053981) Sembcorp Delivers Healthy 9M2011 Performance
SembCorp Industries Limited (Sembcorp) achieved a healthy 5% increase in net profit (Net Profit) attributable to shareholders of the Company before exceptional items for the first nine months of 2011 (9M2011). Group Net Profit increased to S$557.4 million from 9M2010’s S$532.1 million. This excludes the Group’s share of Marine’s exceptional item of S$32.1 million in 9M2010. The Utilities business sustained its strong performance into 9M2011. Net Profit grew 22% and contribution to the Group’s Net Profit increased to 38% compared to 31% last year. The Marine business achieved a Net Profit of S$317.9 million compared to S$347.0 million in 9M2010.
Did you know?
Sembcorp Industries is a leading energy, water and marine group operating across six continents worldwide. With facilities with 5,600 megawatts of gross power capacity and over six million cubic metres of water per day in operation and under development, Sembcorp is a trusted provider of essential energy and water solutions to both industrial and municipal customers. It is also a world leader in marine and offshore engineering, as well as an established developer of integrated townships and industrial parks.The Group has total assets of over S$10 billion and employs over 9,000 employees. Listed on the main board of the Singapore Exchange, it is a component stock of the Straits Times Index and several MSCI indices.
Rationale
SEMBCORP is highlighted in this week's flyer based on these points: -
- Low PE of 9.8x
- High ROE of 22.2%
- Firm revenue trend since 2010
- Good Dividend Yield of 3.94%
- Tightly held stock by Temasek and its major shareholders.
Happy Trading!
Tuesday, 6 December 2011
Local News: 06 December 2011
06 December 2011
Hiap Teck Ventures: Hiap Teck gets Terengganu iron ore mining concession. Hiap Teck Ventures Bhd's (HTVB) 55%-owned subsidiary Eastern Steel Sdn Bhd would be given a 600ha mining concession for iron ore in Bukit Besi, Terengganu, according to Terengganu Mentri Besar Datuk Seri Ahmad Said. The 2,400ha Bukit Besi area is believed to hold 50m tonnes of iron ore reserves, which has the highest quality in Malaysia at 70% Fe (iron). (Source: The Star)
MAHB: KLIA among world's top five next year. MAHB has targeted to make KL International Airport (KLIA) among the world's top five airports in 2012. The airport operator also aimed to achieve earnings before interest, tax, depreciation and amortization of RM822m and a return on equity of 10.42 per cent next year. Those are the targets set by MAHB in its headline key performance indicators (KPIs) for 2012 announced yesterday. (Source: Business Times)
Proton: Three-way bid for Proton stake. As many as three parties have submitted a bid to Khazanah Nasional Bhd yesterday to seek control of Proton Holdings Bhd, and it is believed that the bidders are Tan Sri Syed Mokhtar AlBukhary's DRB-HICOM Bhd, several key shareholders linked to the Naza Group and Proton chairman Datuk Mohd Nadzmi Mohd Salleh. The bids were in the range of between RM6 and RM7 a share according to the party directly involved in the bidding process. (Source: Business Times)
Hua Yang: To offer more affordable houses in Perak township. Hua Yang Bhd's biggest lakeside township development in Perak, Bandar Universiti Seri Iskandar, will be offering more affordable houses by building 137 units of the Tropika and Casa Series, which are essentially double-storey terrace houses. The company will also launch 123 units of retail shops with a pedestrian mall concept near the Tesco Superstore in 2012. (Source: Business Times)
Telecommunication: All nine telecoms players given smaller blocks of 4G spectrum. All the nine telecoms players have again been allocated blocks of the 2.6Ghz although in smaller blocks than originally announced. However, the real winner this time around is newcomer Puncak Semangat Sdn Bhd as it was allocated the biggest bite of 30Mhz of the fourth generation (4G) spectrum. (Source: The Star)
(Information from MBB)
Hiap Teck Ventures: Hiap Teck gets Terengganu iron ore mining concession. Hiap Teck Ventures Bhd's (HTVB) 55%-owned subsidiary Eastern Steel Sdn Bhd would be given a 600ha mining concession for iron ore in Bukit Besi, Terengganu, according to Terengganu Mentri Besar Datuk Seri Ahmad Said. The 2,400ha Bukit Besi area is believed to hold 50m tonnes of iron ore reserves, which has the highest quality in Malaysia at 70% Fe (iron). (Source: The Star)
MAHB: KLIA among world's top five next year. MAHB has targeted to make KL International Airport (KLIA) among the world's top five airports in 2012. The airport operator also aimed to achieve earnings before interest, tax, depreciation and amortization of RM822m and a return on equity of 10.42 per cent next year. Those are the targets set by MAHB in its headline key performance indicators (KPIs) for 2012 announced yesterday. (Source: Business Times)
Proton: Three-way bid for Proton stake. As many as three parties have submitted a bid to Khazanah Nasional Bhd yesterday to seek control of Proton Holdings Bhd, and it is believed that the bidders are Tan Sri Syed Mokhtar AlBukhary's DRB-HICOM Bhd, several key shareholders linked to the Naza Group and Proton chairman Datuk Mohd Nadzmi Mohd Salleh. The bids were in the range of between RM6 and RM7 a share according to the party directly involved in the bidding process. (Source: Business Times)
Hua Yang: To offer more affordable houses in Perak township. Hua Yang Bhd's biggest lakeside township development in Perak, Bandar Universiti Seri Iskandar, will be offering more affordable houses by building 137 units of the Tropika and Casa Series, which are essentially double-storey terrace houses. The company will also launch 123 units of retail shops with a pedestrian mall concept near the Tesco Superstore in 2012. (Source: Business Times)
Telecommunication: All nine telecoms players given smaller blocks of 4G spectrum. All the nine telecoms players have again been allocated blocks of the 2.6Ghz although in smaller blocks than originally announced. However, the real winner this time around is newcomer Puncak Semangat Sdn Bhd as it was allocated the biggest bite of 30Mhz of the fourth generation (4G) spectrum. (Source: The Star)
(Information from MBB)
Today Trading Idea is a Short-Term Buy call on KFIMA.
06 December 2011
Kumpulan Fima Berhad (KFIMA) is an investment holding company. Through its subsidiaries, the company operates pineapple estate, processes & cans pineapple, and cultivates tropical fruits. It also has operations in cattle farming, provides transportation services, and trades securities & confidential documents.
KFIMA made a major daily Wave 2 low of RM1.55 on 18 October 2011, with oversold and bullish signals. Furthermore, the positive indicators of the CCI, DMI, MACD, Stochastic and Oscillator indicators are supportive of further upside. We feel that KFIMA will trend higher in the period mentioned above.
SHORT-TERM BUY (TECHNICAL) on dips for KFIMA with its firm support areas of RM1.63 and RM1.81. The potential Wave 3 & 5 upside target areas is located at RM1.98, RM2.05 and RM2.07. Stop-loss is at RM1.61.
FBM KLCI: Key Points
Some trading stocks that we like are: AEONCR, ARMADA,
CBIP, CEPAT, DRBHCOM, GENP, GENTING, GLOMAC,
KFIMA, MALTON, MBFHLDG, PROTON, TM and
TWSPLNT.
(Information from MBB)
Kumpulan Fima Berhad (KFIMA) is an investment holding company. Through its subsidiaries, the company operates pineapple estate, processes & cans pineapple, and cultivates tropical fruits. It also has operations in cattle farming, provides transportation services, and trades securities & confidential documents.
KFIMA made a major daily Wave 2 low of RM1.55 on 18 October 2011, with oversold and bullish signals. Furthermore, the positive indicators of the CCI, DMI, MACD, Stochastic and Oscillator indicators are supportive of further upside. We feel that KFIMA will trend higher in the period mentioned above.
SHORT-TERM BUY (TECHNICAL) on dips for KFIMA with its firm support areas of RM1.63 and RM1.81. The potential Wave 3 & 5 upside target areas is located at RM1.98, RM2.05 and RM2.07. Stop-loss is at RM1.61.
FBM KLCI: Key Points
- KFIMA – Low PE & on a strong surge
- FBMKLCI – Still beware of that “gap-up”
- Obvious supports of 1,460 & 1,487
- 1,489 & 1,511 will cap the rebounds
Some trading stocks that we like are: AEONCR, ARMADA,
CBIP, CEPAT, DRBHCOM, GENP, GENTING, GLOMAC,
KFIMA, MALTON, MBFHLDG, PROTON, TM and
TWSPLNT.
(Information from MBB)
Monday, 5 December 2011
Today Trading Idea is an Accumulate call on TWSPLNT
05 December 2011
Tradewinds Plantation Berhad (TWSPLNT) is an investment holding company. The company, through its subsidiaries, cultivates oil palm, rubber, and animal husbandry, processes palm oil and kernel, and provides landscaping consultancy, design, and contract works.
TWSPLNT reached a significant major Wave 4 low at RM2.65 on 8 August 2011 with grossly oversold and bearish chart signals. Due to all its positive indicators, it is likely to surge to its obvious upside Wave 5 targets (of RM4.68 and RM5.42) and resistance levels above.
ACCUMULATE (TECHNICAL) on dips for TWSPLNT, with stop-loss at RM3.49.
The daily, weekly and monthly indicators (like the CCI, DMI, MACD, Stochastic and Oscillator) are firmly positive and now depict the fine indications of TWSPLNT’s prolonged price strength. We expect TWSPLNT to remain very firm on any weakness to its support levels of RM3.51 and RM4.17. Our technical upside targets for TWSPLNT are RM4.68 and RM5.42. Stop-loss is at RM3.49.
(Information from MBB)
Tradewinds Plantation Berhad (TWSPLNT) is an investment holding company. The company, through its subsidiaries, cultivates oil palm, rubber, and animal husbandry, processes palm oil and kernel, and provides landscaping consultancy, design, and contract works.
TWSPLNT reached a significant major Wave 4 low at RM2.65 on 8 August 2011 with grossly oversold and bearish chart signals. Due to all its positive indicators, it is likely to surge to its obvious upside Wave 5 targets (of RM4.68 and RM5.42) and resistance levels above.
ACCUMULATE (TECHNICAL) on dips for TWSPLNT, with stop-loss at RM3.49.
The daily, weekly and monthly indicators (like the CCI, DMI, MACD, Stochastic and Oscillator) are firmly positive and now depict the fine indications of TWSPLNT’s prolonged price strength. We expect TWSPLNT to remain very firm on any weakness to its support levels of RM3.51 and RM4.17. Our technical upside targets for TWSPLNT are RM4.68 and RM5.42. Stop-loss is at RM3.49.
(Information from MBB)
Today Local News
05 December 2011
Hiap Teck Ventures: Eastern Steel secures funds for Rm1.8b mill. Eastern Steel Sdn Bhd, a JV between China Shougang Group and Hiap Teck Ventures Bhd, has secured funding for the construction of its RM1.8b steel mill in Kemaman Heavy Industrial Park. The first stage of the phase one of the mill with annual capacity of 700,000 tonnes of steel is expected to be completed by mid-2013 at a cost of RM750m. (Source: The Star)
Tan Chong Holdings: May reach break-even earlier in Vietnam. Having invested nearly USD45m in Nissan Vietnam Co Ltd (NVL) since acquiring a controlling stake in the company last year, Tan Chong Motor Holdings hopes its Vietnam operations will reach break-even sooner than expected based on its current performance despite continuing losses by NVL. (Source: The Edge Financial Weekly)
Fibon: New invention to boost growth. Fibon Bhd is poised to enter a new phase of growth with the upcoming launch of its new swtitchboard Fibon Logicube, which was developed after years of R&D. Unlike the conventional switchboard, Fibon Logicube is compact and fully insulated without conductor exposed. Fibon is currently in the process of obtaining pioneer statues for Fibon Logicube from the Ministry of International Trade and Industry. (Source: The Edge Financial Weekly)
Oil & Gas: Petronas expanding downstream potential. The downstream division is embarking on a RM60b refinery and petrochemicals integrated development project (RAPID) that will be bigger than all of its existing refineries and chemical plants put together. The downstream business itself is split into three segments; refining and trading, downstream marketing and petrochemicals. (Source: Business Times)
Healthcare: Khazanah to list healthcare business on Bursa and SGX. Khazanah Nasional has engaged seven investment banks to map out a plan to list its healthcare assets on both Bursa Malaysia and the Singapore Exchange in the next six months. Sources say that the size of the IPO will not be less than 25% of the company or USD2b (RM6.2b) valuing Khazanah’s healthcare asset at about USD8b. (Source: The Edge Financial Weekly)
Hiap Teck Ventures: Eastern Steel secures funds for Rm1.8b mill. Eastern Steel Sdn Bhd, a JV between China Shougang Group and Hiap Teck Ventures Bhd, has secured funding for the construction of its RM1.8b steel mill in Kemaman Heavy Industrial Park. The first stage of the phase one of the mill with annual capacity of 700,000 tonnes of steel is expected to be completed by mid-2013 at a cost of RM750m. (Source: The Star)
Tan Chong Holdings: May reach break-even earlier in Vietnam. Having invested nearly USD45m in Nissan Vietnam Co Ltd (NVL) since acquiring a controlling stake in the company last year, Tan Chong Motor Holdings hopes its Vietnam operations will reach break-even sooner than expected based on its current performance despite continuing losses by NVL. (Source: The Edge Financial Weekly)
Fibon: New invention to boost growth. Fibon Bhd is poised to enter a new phase of growth with the upcoming launch of its new swtitchboard Fibon Logicube, which was developed after years of R&D. Unlike the conventional switchboard, Fibon Logicube is compact and fully insulated without conductor exposed. Fibon is currently in the process of obtaining pioneer statues for Fibon Logicube from the Ministry of International Trade and Industry. (Source: The Edge Financial Weekly)
Oil & Gas: Petronas expanding downstream potential. The downstream division is embarking on a RM60b refinery and petrochemicals integrated development project (RAPID) that will be bigger than all of its existing refineries and chemical plants put together. The downstream business itself is split into three segments; refining and trading, downstream marketing and petrochemicals. (Source: Business Times)
Healthcare: Khazanah to list healthcare business on Bursa and SGX. Khazanah Nasional has engaged seven investment banks to map out a plan to list its healthcare assets on both Bursa Malaysia and the Singapore Exchange in the next six months. Sources say that the size of the IPO will not be less than 25% of the company or USD2b (RM6.2b) valuing Khazanah’s healthcare asset at about USD8b. (Source: The Edge Financial Weekly)
Friday, 2 December 2011
Today Local News
02 December 2011
Proton: Daihatsu reiterates rejection of Proton-Perodua merger. Daihatsu Motor Co Ltd of Japan, a key shareholder of Perodua, is standing firm against the idea of a merger between Perodua and Proton. Daihatsu president Koichi Ina states that both companies have very different cultures and product lines and it's better to keep the individuality. (Source: The Edge Financial Daily)
SP Setia: 3rd shot at UK job for SP Setia Lenders plan to run open-market auction. The Telegraph reported Irish company Real Estate Opportunities (REO), which has a 54% stake in a vehicle that owns Battersea Power Station, as saying lenders Lloyds Banking Group and Ireland's National Asset Management Agency (NAMA) had applied to have administrators appointed to certain subsidiaries. Upon appointment, Lloyds and NAMA planned to run an open-market auction process to off-load the power station, giving SP Setia a chance to put in a bid. (Source: The Star)
Oil and Gas: Petronas mulls building third LNG terminal in Lumut. Petronas is considering building a third re-gasification plant or liquified natural gas (LNG) terminal in Lumut, Perak, to address the shortage of supply requirement in the power sector and industry users in Peninsular Malaysia. Petronas is also constructing an LNG terminal in Lahad Datu, Sabah, which will be connected to the power plant which is jointly built by the group and Tenaga Nasional Bhd. (Source: Business Times)
Healthcare: Khazanah hires banks for unit's RM4.7b IPO. Khazanah Nasional Bhd has hired Bank of America-Merrill Lynch, Deutsche and CIMB as joint global coordinators for the listing of its healthcare unit that could raise about USD1.5b (RM4.71b), three sources told Reuters. The deal could be the country's fourth-biggest IPO ever and its second major deal in 2012. (Source: The Sun)
(Information from MBB)
Proton: Daihatsu reiterates rejection of Proton-Perodua merger. Daihatsu Motor Co Ltd of Japan, a key shareholder of Perodua, is standing firm against the idea of a merger between Perodua and Proton. Daihatsu president Koichi Ina states that both companies have very different cultures and product lines and it's better to keep the individuality. (Source: The Edge Financial Daily)
SP Setia: 3rd shot at UK job for SP Setia Lenders plan to run open-market auction. The Telegraph reported Irish company Real Estate Opportunities (REO), which has a 54% stake in a vehicle that owns Battersea Power Station, as saying lenders Lloyds Banking Group and Ireland's National Asset Management Agency (NAMA) had applied to have administrators appointed to certain subsidiaries. Upon appointment, Lloyds and NAMA planned to run an open-market auction process to off-load the power station, giving SP Setia a chance to put in a bid. (Source: The Star)
Oil and Gas: Petronas mulls building third LNG terminal in Lumut. Petronas is considering building a third re-gasification plant or liquified natural gas (LNG) terminal in Lumut, Perak, to address the shortage of supply requirement in the power sector and industry users in Peninsular Malaysia. Petronas is also constructing an LNG terminal in Lahad Datu, Sabah, which will be connected to the power plant which is jointly built by the group and Tenaga Nasional Bhd. (Source: Business Times)
Healthcare: Khazanah hires banks for unit's RM4.7b IPO. Khazanah Nasional Bhd has hired Bank of America-Merrill Lynch, Deutsche and CIMB as joint global coordinators for the listing of its healthcare unit that could raise about USD1.5b (RM4.71b), three sources told Reuters. The deal could be the country's fourth-biggest IPO ever and its second major deal in 2012. (Source: The Sun)
(Information from MBB)
Today Trading idea is an Accumulate call on TDM
2 December 2011
TDM Berhad (TDM) trades palm oil and related products and operates fast-food restaurants and also provides consultancy and management services to specialist medical centres, operates in property development and develops computer systems. It trades machinery, equipment and manufactures fibreboard.
TDM made a major daily Wave 4 low of RM2.60 in October 2011, with oversold and bullish signals. Furthermore, the positive indicators of the CCI, DMI, MACD, Stochastic and Oscillator indicators are supportive of further upside. We feel that TDM will trend higher in the period mentioned above.
ACCUMULATE (TECHNICAL) on dips for TDM with its firm support areas of RM3.19 and RM3.62. The potential upside target areas are RM4.06, RM4.31 and RM5.38. Stop-loss is at RM3.17.
FBM KLCI: Key Points
Some trading stocks that we like are: AEONCR, AFG,
CARLSBG, HLBANK, LATEXX, MBFHLDG, MPHB,
SUPERMX, TAANN, TDM, TOPGLOV, TWS and TWSPLNT.
(Information from MBB)
TDM Berhad (TDM) trades palm oil and related products and operates fast-food restaurants and also provides consultancy and management services to specialist medical centres, operates in property development and develops computer systems. It trades machinery, equipment and manufactures fibreboard.
TDM made a major daily Wave 4 low of RM2.60 in October 2011, with oversold and bullish signals. Furthermore, the positive indicators of the CCI, DMI, MACD, Stochastic and Oscillator indicators are supportive of further upside. We feel that TDM will trend higher in the period mentioned above.
ACCUMULATE (TECHNICAL) on dips for TDM with its firm support areas of RM3.19 and RM3.62. The potential upside target areas are RM4.06, RM4.31 and RM5.38. Stop-loss is at RM3.17.
FBM KLCI: Key Points
- TDM – On a strong Wave 5 rise
- FBMKLCI – Mind that “gap-up”
- Obvious supports of 1,452 & 1,480
- 1,485 & 1,511 will cap the rebounds
Some trading stocks that we like are: AEONCR, AFG,
CARLSBG, HLBANK, LATEXX, MBFHLDG, MPHB,
SUPERMX, TAANN, TDM, TOPGLOV, TWS and TWSPLNT.
(Information from MBB)
Tenaga Nasional RM5.68: Buy
Results Review
Share price: RM5.68
Target price: RM6.90
Fuel cost sharing mechanism worth RM2b
Coming together; upgrade to Buy. Tenaga received confirmation for
a fuel sharing mechanism with the government and PETRONAS. Each
party will equally split the additional cost incurred of RM3.1b for burning
pricey oil and distillates which means Tenaga will get a RM2b cheque
soon. The investment proposition for Tenaga has improved; a tariff
revision is very much in the bag. We upgrade the stock to BUY based
on higher earnings outlook and better balance sheet health, with a new
target price of RM6.90 (+17%) pegged to 13x FY12 PER.
The details. This fuel cost sharing mechanism is in response to the
extra cost incurred by Tenaga for burning alternative fuels due to gas
supply shortages from PETRONAS. This covers the period of 1 Jan
until 31 Oct 2011 (10 months) amounting to approximately RM3.069b.
No detail was divulged on when the actual payment will be made, but
we can safely assume that it will be within Tenaga’s FY12 period.
Balance sheet resuscitation, but do not expect dividends yet. This
news is a game changer as Tenaga needs some form of balance sheet
resuscitation as it only have RM4.0b of cash as at end-FY11; it incurred
a cash burn rate of RM4.4b in FY11. This resolution will improve on
Tenaga’s debt outlook and its sacred AAA rating should be intact.
1QFY12 not so pretty yet. We caution however that there will still be
challenges as gas supply is low, in the 1,050 mmscfd level versus the
normal level of 1,250 mmscfd. This means Tenaga will still incur hefty
alternative fuel cost bill in 1QFY12 for the supply shortfall. Nonetheless,
the fuel cost sharing mechanism will compensate two months of 1Q
FY12 (Sep & Oct) and therefore we expect Tenaga to, at least, breakeven
(versus our initial expectation for a loss). The RM2b cost sharing
from PETRONAS and the government does provide comfort for further
compensation in the event of an extended gas supply shortage.
Tenaga regains its blue chip stock status. Tenaga’s outlook has
improved materially on both accounts of profitability and balance sheet.
Furthermore, there is a possible tariff hike in Dec/Jan, and coal prices
have receded by 8% in the last 3 months alone. We have raised our
FY12-14 earnings by 17.4%, 7.3% and 2.7% respectively thanks to
lower fuel cost bill. We have not imputed any tariff hike in our model.
(Information from MBB)
Share price: RM5.68
Target price: RM6.90
Fuel cost sharing mechanism worth RM2b
Coming together; upgrade to Buy. Tenaga received confirmation for
a fuel sharing mechanism with the government and PETRONAS. Each
party will equally split the additional cost incurred of RM3.1b for burning
pricey oil and distillates which means Tenaga will get a RM2b cheque
soon. The investment proposition for Tenaga has improved; a tariff
revision is very much in the bag. We upgrade the stock to BUY based
on higher earnings outlook and better balance sheet health, with a new
target price of RM6.90 (+17%) pegged to 13x FY12 PER.
The details. This fuel cost sharing mechanism is in response to the
extra cost incurred by Tenaga for burning alternative fuels due to gas
supply shortages from PETRONAS. This covers the period of 1 Jan
until 31 Oct 2011 (10 months) amounting to approximately RM3.069b.
No detail was divulged on when the actual payment will be made, but
we can safely assume that it will be within Tenaga’s FY12 period.
Balance sheet resuscitation, but do not expect dividends yet. This
news is a game changer as Tenaga needs some form of balance sheet
resuscitation as it only have RM4.0b of cash as at end-FY11; it incurred
a cash burn rate of RM4.4b in FY11. This resolution will improve on
Tenaga’s debt outlook and its sacred AAA rating should be intact.
1QFY12 not so pretty yet. We caution however that there will still be
challenges as gas supply is low, in the 1,050 mmscfd level versus the
normal level of 1,250 mmscfd. This means Tenaga will still incur hefty
alternative fuel cost bill in 1QFY12 for the supply shortfall. Nonetheless,
the fuel cost sharing mechanism will compensate two months of 1Q
FY12 (Sep & Oct) and therefore we expect Tenaga to, at least, breakeven
(versus our initial expectation for a loss). The RM2b cost sharing
from PETRONAS and the government does provide comfort for further
compensation in the event of an extended gas supply shortage.
Tenaga regains its blue chip stock status. Tenaga’s outlook has
improved materially on both accounts of profitability and balance sheet.
Furthermore, there is a possible tariff hike in Dec/Jan, and coal prices
have receded by 8% in the last 3 months alone. We have raised our
FY12-14 earnings by 17.4%, 7.3% and 2.7% respectively thanks to
lower fuel cost bill. We have not imputed any tariff hike in our model.
(Information from MBB)
Thursday, 1 December 2011
Today Trading idea is an Accumulate call on AEONCR
1 December 2011
Aeon Credit Service (M) Berhad (AEONCR) provides consumer financing products. It offers products such as easy payment, personal financing and credit cards.
AEONCR made a major Wave 4 low of RM4.35 on 9 August 2011 with grossly oversold signals. Its upward price movement and a MA Golden Cross recently suggest a very firm upward trend. The positive crossovers of its CCI, DMI, MACD, Stochastic and Oscillator indicators also support its firm Wave 5 upward price action.
ACCUMULATE (TECHNICAL) on dips for AEONCR with its firm support levels at RM5.60 and RM6.28. We expect it to test our upside target areas of RM6.91 and RM8.23 soon. Stop-loss is at RM5.58.
FBM KLCI: Key Points
Some trading stocks that we like are: AEONCR, AMMB,
ARMADA, CIMB, DIGI, GAB, GENP, GENTING, LATEXX,
PBBANK, SOP, SUPERMX, TAANN, TDM, TIMECOM, TSH
TWS, UEMLAND and YTLPOWR.
(Information from MBB)
Aeon Credit Service (M) Berhad (AEONCR) provides consumer financing products. It offers products such as easy payment, personal financing and credit cards.
AEONCR made a major Wave 4 low of RM4.35 on 9 August 2011 with grossly oversold signals. Its upward price movement and a MA Golden Cross recently suggest a very firm upward trend. The positive crossovers of its CCI, DMI, MACD, Stochastic and Oscillator indicators also support its firm Wave 5 upward price action.
ACCUMULATE (TECHNICAL) on dips for AEONCR with its firm support levels at RM5.60 and RM6.28. We expect it to test our upside target areas of RM6.91 and RM8.23 soon. Stop-loss is at RM5.58.
FBM KLCI: Key Points
- AEONCR – Buy this stock on dips
- FBMKLCI – May re-test 1,493.28 again
- Obvious supports of 1,442 & 1,472
- 1,474 & 1,500 will cap the rebounds
Some trading stocks that we like are: AEONCR, AMMB,
ARMADA, CIMB, DIGI, GAB, GENP, GENTING, LATEXX,
PBBANK, SOP, SUPERMX, TAANN, TDM, TIMECOM, TSH
TWS, UEMLAND and YTLPOWR.
(Information from MBB)
Local News
01 December 2011
SP Setia: Wins bid for Singapore project. SP Setia Bhd has won the bid to develop Chestnut Avenue, a 18,700 sq m parcel of land in Singapore, for a total tender sum worth RM437.4m. The land tender would be granted a lease term of 99 years and was to be developed into condominiums or flats. (Source: The Star)
Silver Ridge: Gets new core business. Silver Ridge would work together with Huatai Financial Holdings (Hong Kong) Ltd to promote the Huatai Von Malaysia Fund, which has a fund size of USD500m (RM1.5b), MD Datuk Mohd Suhaimi Abdullah said after the signing of memorandum of understanding between Huatai and Warrants Capital Sdn Bhd to jointly develop investment and business opportunities in Malaysia (Source: The Star)
Kenanga, ECM Libra: IB sale back on? K&N Kenanga Holdings Bhd has cleared the first hurdle to acquiring ECM Libra Financial Group’s investment banking unit after receiving the go-ahead from BNM some three weeks ago. Sources said that consideration will be in cash and this will make ECM Libra a cash-rich entity, enabling it to pursue new business interest. (Source: The Edge Financial Daily)
CIMB: Plans to expand operations in Sri Lanka. CIMB Group Holdings Bhd plans to expand into stockbroking and commercial banking in Sri Lanka after opening an investment advisory office there recently. CIMB Group CEO Datuk Seri Nazir Razak said at a media briefing that CIMB will look to diversify into more capital-intensive activities as they gain momentum in Sri Lanka.(Source: Business Times, The Edge Financial Daily)
Transport: Prasarana mulls further expansion of KL monorail service. Syarikat Prasarana Negara Bhd (SPNB), which is increasing the capacity of its monorail system, plans to expand the network to cover other commercial areas within Kuala Lumpur. Yesterday, SPNB signed an agreement to award Scomi Engineering Bhd a RM494m contract to supply new and bigger trains and undertake work to upgrade RapidKL Monorail stations around the city. (Source: The Sun)
SP Setia: Wins bid for Singapore project. SP Setia Bhd has won the bid to develop Chestnut Avenue, a 18,700 sq m parcel of land in Singapore, for a total tender sum worth RM437.4m. The land tender would be granted a lease term of 99 years and was to be developed into condominiums or flats. (Source: The Star)
Silver Ridge: Gets new core business. Silver Ridge would work together with Huatai Financial Holdings (Hong Kong) Ltd to promote the Huatai Von Malaysia Fund, which has a fund size of USD500m (RM1.5b), MD Datuk Mohd Suhaimi Abdullah said after the signing of memorandum of understanding between Huatai and Warrants Capital Sdn Bhd to jointly develop investment and business opportunities in Malaysia (Source: The Star)
Kenanga, ECM Libra: IB sale back on? K&N Kenanga Holdings Bhd has cleared the first hurdle to acquiring ECM Libra Financial Group’s investment banking unit after receiving the go-ahead from BNM some three weeks ago. Sources said that consideration will be in cash and this will make ECM Libra a cash-rich entity, enabling it to pursue new business interest. (Source: The Edge Financial Daily)
CIMB: Plans to expand operations in Sri Lanka. CIMB Group Holdings Bhd plans to expand into stockbroking and commercial banking in Sri Lanka after opening an investment advisory office there recently. CIMB Group CEO Datuk Seri Nazir Razak said at a media briefing that CIMB will look to diversify into more capital-intensive activities as they gain momentum in Sri Lanka.(Source: Business Times, The Edge Financial Daily)
Transport: Prasarana mulls further expansion of KL monorail service. Syarikat Prasarana Negara Bhd (SPNB), which is increasing the capacity of its monorail system, plans to expand the network to cover other commercial areas within Kuala Lumpur. Yesterday, SPNB signed an agreement to award Scomi Engineering Bhd a RM494m contract to supply new and bigger trains and undertake work to upgrade RapidKL Monorail stations around the city. (Source: The Sun)
Local News
30 November 2011
YTL Power: Expects YTL Comms to turn around. YTL Power International expects its subsidiary, YTL Communications, to turn around within 2 years. YTL Comms will launch an Android smartphone together with an “easy to understand” price plan in January next year. (Source: The Edge Financial Daily)
Sumatec Resources: PSC could turn Sumatec around. Sumatec Resources has entered into a framework agreement with Markmore Energy (Labuan) Ltd (MELL) and CaspiOilGas LLP (COG) for the award of a PSC for the Shelly oil field in Kazakhstan. The proposed PSC is a 50:50 profit-sharing venture between Sumatec and COG for the 354.5-sq km Shelly oil field, in which COG has the concession until Aug 25, 2025 to explore oil. (Source: The Edge Financial Daily)
AWC: Set to build solar power farm. AWC Bhd is in the running to be the first in Malaysia to put up a solar farm. The solar farm will be capable of generating one-megawatt. It will be fed into the national grid and we'll be able to sell power according to the feed-in tariff according to group CEO cum MD Azmir Merican. (Source: Business Times)
Asia Media: Doing 'live' test broadcasts on buses. Asia Media Group Bhd, the country's largest transit-television network operator, has started testing live television broadcast on 30 buses that ply the Shah Alam and Kelana Jaya route. Asia Media intends to use the technology on all the 1,000-odd Rapid KL buses that service the city once the testing has been completed, banking on the "out-of-home service" to help sustain its earnings momentum. (Source: Business Times)
YTL Power: Expects YTL Comms to turn around. YTL Power International expects its subsidiary, YTL Communications, to turn around within 2 years. YTL Comms will launch an Android smartphone together with an “easy to understand” price plan in January next year. (Source: The Edge Financial Daily)
Sumatec Resources: PSC could turn Sumatec around. Sumatec Resources has entered into a framework agreement with Markmore Energy (Labuan) Ltd (MELL) and CaspiOilGas LLP (COG) for the award of a PSC for the Shelly oil field in Kazakhstan. The proposed PSC is a 50:50 profit-sharing venture between Sumatec and COG for the 354.5-sq km Shelly oil field, in which COG has the concession until Aug 25, 2025 to explore oil. (Source: The Edge Financial Daily)
AWC: Set to build solar power farm. AWC Bhd is in the running to be the first in Malaysia to put up a solar farm. The solar farm will be capable of generating one-megawatt. It will be fed into the national grid and we'll be able to sell power according to the feed-in tariff according to group CEO cum MD Azmir Merican. (Source: Business Times)
Asia Media: Doing 'live' test broadcasts on buses. Asia Media Group Bhd, the country's largest transit-television network operator, has started testing live television broadcast on 30 buses that ply the Shah Alam and Kelana Jaya route. Asia Media intends to use the technology on all the 1,000-odd Rapid KL buses that service the city once the testing has been completed, banking on the "out-of-home service" to help sustain its earnings momentum. (Source: Business Times)
Wednesday, 30 November 2011
KPJ Healthcare Berhad RM4.18: Buy
Results Review
Share price: RM4.18
Target price: RM5.10
Niche specialist with regional dreams Initiate
Initiate coverage with BUY and target price of RM5.10. KPJ is wellpositioned
to benefit from the fast-growing healthcare sector in
Malaysia. This sector has been identified as one of the 12 key pillars in
the country‟s Economic Transformation Programme and is expected to
contribute USD10.4b to the Gross National Income by 2020. As a
defensive play, KPJ also offers limited revenue downside given its
domestic dominance and a wide array of positive demand factors.
Entrenched market leader. KPJ operates 20 private hospitals in
Malaysia, the largest network among local private hospital operators,
and has a 19% share of total private hospital beds. As the leader of the
domestic market, it stands to reap the greatest benefits from the rising
healthcare needs of the local population.
Limited revenue downside. The ever-growing demand for private
healthcare services in Malaysia limits the downside risk to revenue for
KPJ. This relatively inelastic demand is underpinned by structural
factors such as the increased number of elderly people, growing
population, higher per capita income and strain on public-sector
healthcare system.
New hospitals, new foreign patients. KPJ plans to add 1-2 hospitals
each year in its efforts to expand its hospital network. By end-2013,
KPJ could have added up to five new hospitals, and expanded its bed
capacity by up to 35%. We also expect the company to compete more
aggressively for foreign patients in the medical tourism sector. Its
education business could also serve as another thrust for growth.
Cheapest valuation, highest dividend yield. KPJ is the cheapest
hospital stock vis-à-vis its regional peers, trading at FY12F PER of
18.1x vs the peer average of 22.3x. Nevertheless, it offers the highest
yield at 2.4% net. We expect revenue growth of 13-18% over FY11-13
as its hospital network expands and it becomes a bigger player in
medical tourism. Corresponding net profit would grow by 8-19% over
the same period. Initiate coverage with BUY and TP of RM5.10, based
on 22x PER on FY12F fully diluted EPS, pegged to peer average.
(Information from MBB Investment Bank)
Share price: RM4.18
Target price: RM5.10
Niche specialist with regional dreams Initiate
Initiate coverage with BUY and target price of RM5.10. KPJ is wellpositioned
to benefit from the fast-growing healthcare sector in
Malaysia. This sector has been identified as one of the 12 key pillars in
the country‟s Economic Transformation Programme and is expected to
contribute USD10.4b to the Gross National Income by 2020. As a
defensive play, KPJ also offers limited revenue downside given its
domestic dominance and a wide array of positive demand factors.
Entrenched market leader. KPJ operates 20 private hospitals in
Malaysia, the largest network among local private hospital operators,
and has a 19% share of total private hospital beds. As the leader of the
domestic market, it stands to reap the greatest benefits from the rising
healthcare needs of the local population.
Limited revenue downside. The ever-growing demand for private
healthcare services in Malaysia limits the downside risk to revenue for
KPJ. This relatively inelastic demand is underpinned by structural
factors such as the increased number of elderly people, growing
population, higher per capita income and strain on public-sector
healthcare system.
New hospitals, new foreign patients. KPJ plans to add 1-2 hospitals
each year in its efforts to expand its hospital network. By end-2013,
KPJ could have added up to five new hospitals, and expanded its bed
capacity by up to 35%. We also expect the company to compete more
aggressively for foreign patients in the medical tourism sector. Its
education business could also serve as another thrust for growth.
Cheapest valuation, highest dividend yield. KPJ is the cheapest
hospital stock vis-à-vis its regional peers, trading at FY12F PER of
18.1x vs the peer average of 22.3x. Nevertheless, it offers the highest
yield at 2.4% net. We expect revenue growth of 13-18% over FY11-13
as its hospital network expands and it becomes a bigger player in
medical tourism. Corresponding net profit would grow by 8-19% over
the same period. Initiate coverage with BUY and TP of RM5.10, based
on 22x PER on FY12F fully diluted EPS, pegged to peer average.
(Information from MBB Investment Bank)
Malaysia Airports Holdings RM6.09: Buy
Results Review
Share price: RM6.09
Target price: RM7.55
KLIA2 no longer a low cost terminal
Management comes clean. MAHB, at an analyst briefing yesterday,
revealed the latest development of KLIA2. In a nutshell, the project size
is much bigger than originally planned with a capacity of 45m (versus
30m, +50% increase), completion date has been pushed to Apr 2013
(previous Oct 2012) and the project cost has soared to RM3.6-3.9b
(versus RM2.0-2.5b, +56%-80% increase). Management asserts new
IRR of >10% (our original estimate 13.2%). We are assessing the
impact to our earnings model and place MAHB under review.
Salient features. This project is no longer low cost; it has all the
amenities and features of a world class terminal. Among the salient
changes are: (1) fitted with aerobridges; (2) bigger terminal size (+71%)
to allocate separation of domestic and international passengers; (3) a
fully automated (semi, earlier) baggage system; (4) longer runway; and
(5) bigger (+131%) landside area to accommodate more aircraft parking
area. Upon completion, KLIA2 will be the world’s largest single terminal
capacity of 45m versus current record holder Dubai T3 with 43m.
Front end cashflow burden. In the original plan, KLIA2 is to be built
over 2-3 phases as the passenger traffic rises. But now, KLIA2 is to be
built to full scale in one go. Whilst we think this will yield better value
over the long-term, it will be a burden on MAHB’s cashflow in the initial
years. MAHB predicts that KLIA2’s maiden utilization rate of 49% (22m
pax) and will gradually increase to 70% 8 years later in 2021. KLIA2 will
look and feel spacious for the first 4-5 years.
Funding uncertainties may cap near-term share price. MAHB’s
current gearing ratio is at a comfy 0.77x and will peak at 0.90x in 2012,
we estimate. But with the higher KLIA2 project cost, this may jump to
1.07-1.16x assuming MAHB raises additional debt. The internal target
is for gearing to, not cross 1.0x, which implies a project debt drawdown
of up to RM3.1b, leaving another RM0.5b-RM0.8m to be funded from
internal funds and new equity. MAHB may discontinue dividends
temporarily or raise new equity – both avenues are not ruled out by the
management. We think that dividend uncertainties and the dilutive
impact from potential new equities may cap near-term share price.
(Information from MBB Investment Bank)
Share price: RM6.09
Target price: RM7.55
KLIA2 no longer a low cost terminal
Management comes clean. MAHB, at an analyst briefing yesterday,
revealed the latest development of KLIA2. In a nutshell, the project size
is much bigger than originally planned with a capacity of 45m (versus
30m, +50% increase), completion date has been pushed to Apr 2013
(previous Oct 2012) and the project cost has soared to RM3.6-3.9b
(versus RM2.0-2.5b, +56%-80% increase). Management asserts new
IRR of >10% (our original estimate 13.2%). We are assessing the
impact to our earnings model and place MAHB under review.
Salient features. This project is no longer low cost; it has all the
amenities and features of a world class terminal. Among the salient
changes are: (1) fitted with aerobridges; (2) bigger terminal size (+71%)
to allocate separation of domestic and international passengers; (3) a
fully automated (semi, earlier) baggage system; (4) longer runway; and
(5) bigger (+131%) landside area to accommodate more aircraft parking
area. Upon completion, KLIA2 will be the world’s largest single terminal
capacity of 45m versus current record holder Dubai T3 with 43m.
Front end cashflow burden. In the original plan, KLIA2 is to be built
over 2-3 phases as the passenger traffic rises. But now, KLIA2 is to be
built to full scale in one go. Whilst we think this will yield better value
over the long-term, it will be a burden on MAHB’s cashflow in the initial
years. MAHB predicts that KLIA2’s maiden utilization rate of 49% (22m
pax) and will gradually increase to 70% 8 years later in 2021. KLIA2 will
look and feel spacious for the first 4-5 years.
Funding uncertainties may cap near-term share price. MAHB’s
current gearing ratio is at a comfy 0.77x and will peak at 0.90x in 2012,
we estimate. But with the higher KLIA2 project cost, this may jump to
1.07-1.16x assuming MAHB raises additional debt. The internal target
is for gearing to, not cross 1.0x, which implies a project debt drawdown
of up to RM3.1b, leaving another RM0.5b-RM0.8m to be funded from
internal funds and new equity. MAHB may discontinue dividends
temporarily or raise new equity – both avenues are not ruled out by the
management. We think that dividend uncertainties and the dilutive
impact from potential new equities may cap near-term share price.
(Information from MBB Investment Bank)
Tuesday, 29 November 2011
Sime Darby RM8.88: Hold
Results Review
Share price: RM8.88
Target price: RM8.36
Off to a good start
Within expectations. 1QFY12 net profit of RM1,074m (-20% QoQ
+170% YoY) met 30% and 28% of our and consensus FY12 estimates.
It is within our expectation given the relatively higher FFB output
typically recorded in the 1Q of Sime’s financial year. Maintain earnings
estimates and Hold call with a RM8.36 TP based on 16x FY13 PER.
All major segments lower QoQ. Sime’s plantation division remains
the key earnings contributor to the Group at 63% of EBIT in 1QFY12, at
RM938m (-26% QoQ, +90% YoY). For the plantation upstream
operation, FFB output was 3% higher QoQ (+8% YoY), only to be
offset by lower CPO ASP of RM2,946/t (-5% QoQ, +17% YoY). The
downstream operational losses widened QoQ to RM38m (+39% QoQ)
against a slight profit of RM4m in 1QFY11.
Industrial affected by China operations, motor skidded by forex.
The China Industrial contribution was affected by tightening credits and
government policies, while Australasia continues to benefit from mining
demand. Current orderbook stays healthy at RM3b. Overall, Industrial
EBIT was -11% QoQ to RM324m (+43% YoY). Earnings from Motor
meanwhile was -19% lower QoQ to RM154m (+3% YoY) mainly due to
an unrealised forex loss of RM36m vs. RM6m a quarter ago. Excluding
these, Motor EBIT would have been lower marginally by just 4%.
Slower property sales. Lower sales of residential and commercial
properties coupled with lower percentage of property development
works completed in 1QFY12 resulted in lower property EBIT at RM53m
(-77% QoQ, -2% YoY). Sime is planning new launches to boost sales.
New KPI unveiled. Sime is targeting a modest net profit of RM3.3b for
FY12 (-10% YoY) or approximately 7% below our forecast. The new
KPI target could be Sime’s realistic assessment of the challenging
outlook ahead. This new KPI is based on CPO ASP of RM2,800/t for
FY12, which is largely in line with our forecast of RM2,850/t. Its final
(FY11) single tier DPS of 22sen will go ex on 29 Nov 2011.
(Information from MBB Investment Bank)
Share price: RM8.88
Target price: RM8.36
Off to a good start
Within expectations. 1QFY12 net profit of RM1,074m (-20% QoQ
+170% YoY) met 30% and 28% of our and consensus FY12 estimates.
It is within our expectation given the relatively higher FFB output
typically recorded in the 1Q of Sime’s financial year. Maintain earnings
estimates and Hold call with a RM8.36 TP based on 16x FY13 PER.
All major segments lower QoQ. Sime’s plantation division remains
the key earnings contributor to the Group at 63% of EBIT in 1QFY12, at
RM938m (-26% QoQ, +90% YoY). For the plantation upstream
operation, FFB output was 3% higher QoQ (+8% YoY), only to be
offset by lower CPO ASP of RM2,946/t (-5% QoQ, +17% YoY). The
downstream operational losses widened QoQ to RM38m (+39% QoQ)
against a slight profit of RM4m in 1QFY11.
Industrial affected by China operations, motor skidded by forex.
The China Industrial contribution was affected by tightening credits and
government policies, while Australasia continues to benefit from mining
demand. Current orderbook stays healthy at RM3b. Overall, Industrial
EBIT was -11% QoQ to RM324m (+43% YoY). Earnings from Motor
meanwhile was -19% lower QoQ to RM154m (+3% YoY) mainly due to
an unrealised forex loss of RM36m vs. RM6m a quarter ago. Excluding
these, Motor EBIT would have been lower marginally by just 4%.
Slower property sales. Lower sales of residential and commercial
properties coupled with lower percentage of property development
works completed in 1QFY12 resulted in lower property EBIT at RM53m
(-77% QoQ, -2% YoY). Sime is planning new launches to boost sales.
New KPI unveiled. Sime is targeting a modest net profit of RM3.3b for
FY12 (-10% YoY) or approximately 7% below our forecast. The new
KPI target could be Sime’s realistic assessment of the challenging
outlook ahead. This new KPI is based on CPO ASP of RM2,800/t for
FY12, which is largely in line with our forecast of RM2,850/t. Its final
(FY11) single tier DPS of 22sen will go ex on 29 Nov 2011.
(Information from MBB Investment Bank)
Definition of Ratings
BUY: Total return is expected to be above 10% in the next 12 months,
HOLD: Total return is expected to be between -5% to 10% in the next 12 months,
SELL: Total return is expected to be below -5% in the next 12 months.
HOLD: Total return is expected to be between -5% to 10% in the next 12 months,
SELL: Total return is expected to be below -5% in the next 12 months.
| Name | Definition |
| Adex | Advertising Expenditure |
| BV | Book Value |
| CAGR | Compounded Annual Growth Rate |
| Capex | Capital Expenditure |
| CY | Calendar Year |
| DCF | Discounted Cashflow |
| DPS | Dividend Per Share |
| EBIT | Earnings Before Interest And Tax |
| EBITDA | EBIT, Depreciation And Amortisation |
| EPS | Earnings Per Share |
| EV | Enterprise Value |
| FCF | Free Cashflow |
| FV | Fair Value |
| FY | Financial Year |
| FYE | Financial Year End |
| MoM | Month-On-Month |
| NAV | Net Asset Value |
| NTA | Net Tangible Asset |
| P | Price |
| P.A. | Per Annum |
| PAT | Profit After Tax |
| PBT | Profit Before Tax |
| PE | Price Earnings |
| PEG | PE Ratio To Growth |
| PER | PE Ratio |
| QoQ | Quarter-On-Quarter |
| ROA | Return On Asset |
| ROSF | Return On Shareholders’ Funds |
| ROE | Return On Equity |
| WACC | Weighted Average Cost Of Capital |
| YoY | Year-On-Year |
| YTD | Year-To-Date |
Monday, 24 October 2011
Friday, 21 October 2011
MAHSING 今年銷量達標
今年銷量達標 馬星年底料再購地
股市20/10/2011 22:13
（吉隆坡20日訊）隨著馬星集團（MAHSING，8583，主要板房地產）新房產計劃短期內就售罄，達到2011年20億令吉的銷售目標，券商預期仍有空間在年底前再收購更多地。
豐隆證券研究指出，該公司“M城”（M City）零售空間，推介短短2個星期就已賣完，今年6月份推介的住家辦工（SOHO）單位也一樣。
該行估計，目前為止，該公司銷售額已近21億令吉，不僅完成今年銷售目標，還有2個月剩余期限。
有鑑于此，該行相信，年底前，馬星料在巴生谷邊緣再購地，推出類似萬撓“M Residence”綜合城鎮的產品。
馬星過去數個星期來好消息不斷，該行再次確認該公司和巴生谷一手住宅房產市場前景樂觀。
豐隆證券研究相信，馬星集團可達到明年25億令吉的銷售額目標。
“馬星新推介的工程都獲得不錯的認購率。”
此外，由于住家辦工單位反應熱烈，馬星即將推介“M城”住宅單位，2座分別有558和546個單位，發展總值達9億9000萬令吉。
豐隆證券研究指出，假設第一座今年的認購率是30%，明年是70%，以42個月的建築期間來計算，明年第二季開工的話，馬星2012至13財年的收益也將上調3%至10%。
該行維持該股“買入”評級，目標價格微上調至2.16令吉。
閉市時，該股報1.89令吉，跌2仙，成交量72萬5800股。[ChinaPress]
股市20/10/2011 22:13
（吉隆坡20日訊）隨著馬星集團（MAHSING，8583，主要板房地產）新房產計劃短期內就售罄，達到2011年20億令吉的銷售目標，券商預期仍有空間在年底前再收購更多地。
豐隆證券研究指出，該公司“M城”（M City）零售空間，推介短短2個星期就已賣完，今年6月份推介的住家辦工（SOHO）單位也一樣。
該行估計，目前為止，該公司銷售額已近21億令吉，不僅完成今年銷售目標，還有2個月剩余期限。
有鑑于此，該行相信，年底前，馬星料在巴生谷邊緣再購地，推出類似萬撓“M Residence”綜合城鎮的產品。
馬星過去數個星期來好消息不斷，該行再次確認該公司和巴生谷一手住宅房產市場前景樂觀。
豐隆證券研究相信，馬星集團可達到明年25億令吉的銷售額目標。
“馬星新推介的工程都獲得不錯的認購率。”
此外，由于住家辦工單位反應熱烈，馬星即將推介“M城”住宅單位，2座分別有558和546個單位，發展總值達9億9000萬令吉。
豐隆證券研究指出，假設第一座今年的認購率是30%，明年是70%，以42個月的建築期間來計算，明年第二季開工的話，馬星2012至13財年的收益也將上調3%至10%。
該行維持該股“買入”評級，目標價格微上調至2.16令吉。
閉市時，該股報1.89令吉，跌2仙，成交量72萬5800股。[ChinaPress]
MAHSING 2.2億購Icon Residence
2.2億購Icon Residence 96單位 中企欲購馬星檳隆房產
企業10/10/2011 21:35
（吉隆坡10日訊）馬星集團（MAHSING，8583，主要板房產）房地產項目獲中國企業公司青睞，除了一口氣購下96個單位，也對該集團其他計劃感興趣，有意加碼投資。
馬星集團總營運長鄭興宗告訴《中國報》，該中國公司對馬星集團于檳城和隆市的其他發展項目亦感興趣，雙方正在商談中，或許將以類似滿家樂Icon Residence服務式公寓再次合作。
該集團目前于隆市的發展項目包括M-City和M-Suites，檳城計劃則有Southbay城和檳城Icon Residence公寓。
馬星集團今日發佈文告指出，中國一家企業公司斥資2億2080萬令吉或每平方呎1200令吉，一次過購下滿家樂Icon Residence公寓96個單位。
認購率超過60%
該中國公司將負責滿家樂Icon Residence公寓建築和外部工程建設，作為交換96個單位的代價，馬星集團受委為這96個單位的獨家經銷公司。
滿家樂Icon Residence公寓以地中海為設計主題，共建有3棟大樓或260個單位。這次獲中國公司大批購入，使得該計劃認購率超過60%。
該計劃也吸引東馬、香港、新加坡、印尼和韓國投資者詢問，馬星集團計劃進行一系列的巡迴展銷活動集氣。
該集團總執行長兼董事經理丹斯里梁海金在文告中指出，藉由此合作，亦讓公司擁有更寬裕的資金，投資往其他領域，公司未來也期望以此模式和其他公司締結合作。[ChinaPress]
企業10/10/2011 21:35
（吉隆坡10日訊）馬星集團（MAHSING，8583，主要板房產）房地產項目獲中國企業公司青睞，除了一口氣購下96個單位，也對該集團其他計劃感興趣，有意加碼投資。
馬星集團總營運長鄭興宗告訴《中國報》，該中國公司對馬星集團于檳城和隆市的其他發展項目亦感興趣，雙方正在商談中，或許將以類似滿家樂Icon Residence服務式公寓再次合作。
該集團目前于隆市的發展項目包括M-City和M-Suites，檳城計劃則有Southbay城和檳城Icon Residence公寓。
馬星集團今日發佈文告指出，中國一家企業公司斥資2億2080萬令吉或每平方呎1200令吉，一次過購下滿家樂Icon Residence公寓96個單位。
認購率超過60%
該中國公司將負責滿家樂Icon Residence公寓建築和外部工程建設，作為交換96個單位的代價，馬星集團受委為這96個單位的獨家經銷公司。
滿家樂Icon Residence公寓以地中海為設計主題，共建有3棟大樓或260個單位。這次獲中國公司大批購入，使得該計劃認購率超過60%。
該計劃也吸引東馬、香港、新加坡、印尼和韓國投資者詢問，馬星集團計劃進行一系列的巡迴展銷活動集氣。
該集團總執行長兼董事經理丹斯里梁海金在文告中指出，藉由此合作，亦讓公司擁有更寬裕的資金，投資往其他領域，公司未來也期望以此模式和其他公司締結合作。[ChinaPress]
MAHSING 預算案受惠
大馬財經 2011-10-08 15:27
馬星集團（MAHSING，8583，主板產業組）集團董事經理丹斯里梁海金表示，市場早前傳言盈產業盈利稅將調整至25%，事實上只是在2年內脫售的產業被征稅10%，這對發展商如馬星集團而言是件好事，因為其產業的大部份買家是購屋供自住。
在2至5年內售產業的盈利稅保持為5%，以及5年後0%，這是發出良好訊息給本地市場和外國投資者，他們可看到政府政策具持續性及鼓勵真正的投資。
他贊許政府將非機構投資者和個人在投資產投資信托（REITs）的股息只征稅10%的措施，延長另5年至2016年。
投資經營4和5星級酒店將獲新興地位，豁免所得稅70%或60%投資免稅額共5年，這將令馬星集團直接受惠，因該公司計劃在公打靈再也的Icon City和檳城的Southbay City建4至5星級酒店。
他表示，60萬令吉和以下的產業，購屋者在建築期間無須還貸款，這也將令馬星集團受惠，因該集團部份產業是此價格範疇。（星洲日報／財經）
馬星集團（MAHSING，8583，主板產業組）集團董事經理丹斯里梁海金表示，市場早前傳言盈產業盈利稅將調整至25%，事實上只是在2年內脫售的產業被征稅10%，這對發展商如馬星集團而言是件好事，因為其產業的大部份買家是購屋供自住。
在2至5年內售產業的盈利稅保持為5%，以及5年後0%，這是發出良好訊息給本地市場和外國投資者，他們可看到政府政策具持續性及鼓勵真正的投資。
他贊許政府將非機構投資者和個人在投資產投資信托（REITs）的股息只征稅10%的措施，延長另5年至2016年。
投資經營4和5星級酒店將獲新興地位，豁免所得稅70%或60%投資免稅額共5年，這將令馬星集團直接受惠，因該公司計劃在公打靈再也的Icon City和檳城的Southbay City建4至5星級酒店。
他表示，60萬令吉和以下的產業，購屋者在建築期間無須還貸款，這也將令馬星集團受惠，因該集團部份產業是此價格範疇。（星洲日報／財經）
Wednesday, 19 October 2011
RM3500 开始投机马股
第一次投机
* 费用 = Brokerage and Stamp Duty
* 净利润 （RM） = 买入总费用 - 卖出扣费用后所得
* 净利润 （%） = 净利润 （RM）/ 买入总费用(总投资额) x 100%
晕啊！！！
昨天 19 Oct 卖 RM0.260， 今天飞到 RM0.305 ... 如果今天卖RM0.30 就有28% nett profit 了
* 费用 = Brokerage and Stamp Duty
* 净利润 （RM） = 买入总费用 - 卖出扣费用后所得
* 净利润 （%） = 净利润 （RM）/ 买入总费用(总投资额) x 100%
| 买入 (RM) | 卖出 (RM) | 净利润 | |||||||||
| 名称 | 数量 (shares) | 日期 | 买价 | 费用 | 总费用 | 日期 | 卖价 | 费用 | 扣费用后所得 | RM | % |
| KSTAR 5172 | 13500 | 14 Oct 2011 | 0.235 | 18.276 | 3190.78 | 19 Oct 2011 | 0.260 | 19.795 | 3510.00 | + 299.43 | + 9.33% |
| MAHSING 8583 | 2000 | 19 Oct 2011 | 1.910 | 21..19 | 3841.19 | 03 Nov 2011 | 1.99 | 22.39 | 3957.16 | +116.42 | +3.01% |
晕啊！！！
昨天 19 Oct 卖 RM0.260， 今天飞到 RM0.305 ... 如果今天卖RM0.30 就有28% nett profit 了
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