Author Topic: TIME TO INVEST IN BURSA ??  (Read 28465 times)

Online king

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TIME TO INVEST IN BURSA ??
« on: July 09, 2016, 02:52:31 PM »



2016-07-04 07:00
麦莫比:现是投资好时机
马币、泰铢、印尼盾沦陷,中国经济放缓,加上原产品价格大挫,种种的因素,只能说从2014年开始,新兴市场发展似乎已失去了昔日的光芒。美国说升息,资金就大举从发展中国家流出,在全球经济存在许多不确定性因素下,一些最保险的资产变成投资者最青睐的选择。

麦莫比的投资组合:70%在股市,15%在固定收入市场,5%在黄金,其余的在房地产。
马币、泰铢、印尼盾沦陷,中国经济放缓,加上原产品价格大挫,种种的因素,只能说从2014年开始,新兴市场发展似乎已失去了昔日的光芒。

广告

美国说升息,资金就大举从发展中国家流出,在全球经济存在许多不确定性因素下,一些最保险的资产变成投资者最青睐的选择。

对于被别人看淡,进而撤离所有资金的新兴市场,在因发掘此市场潜能,而被冠上“新兴市场教父”美誉的麦莫比眼中,又是如何?新兴市场,还值得关注吗?

麦莫比
盘点新兴市场

在过去的一年里,发展中国家差强人意,受美国收水影响,资金都在撤离新兴市场。数据显示,除了发生次贷风暴时,外资在过去10年都在买入发展中市场,但打从2013年中至今,外资都在流失。

热钱逃窜,首当其冲的非股市莫属。在2015年里,新兴市场股市大挫,印尼、新加坡及台湾的股市皆跌近10%,泰国及大马更是当中表现最糟糕的两个市场,分别跌24%及20%。

广告

除了股市以外,亚洲汇市表现也非常逊色。

新元兑美元贬高于6.0%、泰国跌近9%,跌势最惨的莫过于印尼及大马,分别跌10%及18%。

当然,除了外资撤离以外,新兴市场的经济基本面也出现让人担心的问题。韩国僵尸企业不断增加、泰国政治动乱、中国经济放缓,这只是当中的一些问题,在大马方面,油价走跌令市场担心政府是否能保赤,一马发展公司(1MDB)相关的政治丑闻也使投资者丧失信心。

“现为最佳的投资时机”

虽然发展中市场问题林林种种,但贵为新兴市场教父,麦莫比还是认为,发展中市场仍非常具潜力。

财务谘询系列是联昌银行为高级客户提供的免费讲座,在“第100场财务谘询系列”大会上,麦莫比表示:“目前市场非常不看好发展中市场,但这正是最佳的时机。”

就此一言,表示麦莫比仍非常看好发展中国家,他也以数据点出,发展中市场在过去的28年里,共有17年股市表现超越已发展市场。

他认为,现在正是投资发展中国家的最好时机,他举例,在1987年,他刚开始投资发展中国家时,全球只有6个市场能让外资直接投资,分别是墨西哥、香港、菲律宾、泰国、大马及印尼。随着世界各地倾向市场自由化,截至去年12月可投资的发展中市场已经增加至70多个,覆盖整个中美洲、南美洲、非洲、中东及整个亚洲。

亚洲经济成长胜全球

他认为,发展中市场仍然是全球经济发展引擎,中国继续高速扩展,而印度更是经济成长速度最快的一个。

数据显示,在2016年,亚洲的整体经济发展速度为5.7%,高于全球平均的2.8%。

说实在,亚洲的高速发展确实拉高了全球经济发展,毕竟美国、欧洲及日本的经济发展速度都低于平均,分别为2.5%、1.7%及1.2%。

此外,一些发展中国家如印度、印尼及泰国政府也正改革开放,虽然速度比预期慢,但这都意味着发展中市场将变得更为亲商,同时,这些国家也将投入大笔资产发展基建。

除了这些国家本身的潜能以外,大众商品价格走跌也对这些市场利好。

4亚洲国家最具潜能

麦莫比在演讲当中,特别点出了4个国家,分别是印度、中国、印尼及泰国,这些国家都是麦莫比认为最具潜能的典范。

印度发展速度最快

就印度上,麦莫比下的笔墨不多,但从投资组合可见,麦莫比对印度情有独钟,在他的投资组合当中,比重最大的两家公司就来自印度,分别是摩哆车生产商BAJAJ控股及印度最大集团达达集团旗下的达达化学,分别占总投资组合的8及5%。

他说:“印度是全亚洲经济发展速度最快的国家,加上净外资投资蓬勃、政府效率也有所提升,是个可期的市场。”

泰国地理位置最佳

印度之外,泰国也是麦莫比非常看好的市场,泰国是东盟经济体主要成员,能因东盟经济成长获利。

根据东盟官网,在2007至2014年间,东盟经济已翻倍成长,人均收入也成长76%,在全球,东盟是世界第7大经济体。

除此之外,东盟是全球第三大人口的经济体,人口高于东盟的只有中国及印度,就连由28国联合组成的欧盟人口也少于东盟。

麦莫比认为,在充满潜能的东盟内,泰国拥有更佳的地理位置。该国位于柬埔寨、辽国、缅甸及越南的边境,在跨境投资及贸易上占尽优势。

根据东盟官网,截至2014年,东盟的总贸易量为2兆5000亿美元,当中的24%源自于东盟内部贸易。

此外,泰国也有再分配政策,这能提高乡下人口的人均收入,增强消费。

虽然在2015年,基建发展无大进展,但预期在今年内,靠基建投资、旅游业及出口支撑,泰国能重拾成长动力。

麦莫比表示,以行业而言,泰国在基建上拥有相当的的发展潜能,泰国政府在过去2012至2015年之间,均保持基建投资开销,但预计在今年,基建投资成本将增加。

此外,相对于东盟的年轻人口,泰国是东盟第一个面临人口老化的国家。到2040年时,泰国25%人口将会高于65岁,但这对麦莫比而言不是问题。麦莫比表示:“人口老化表示对保健需求将提升,我看好泰国保健业。”

大马一马影响短暂
看好消费和油气

麦莫比演说涵盖的地域之广,但在演说当中,他鲜少,近乎不曾提起大马。

从一星期前拜访的中国,到一个月前旅游中美洲,麦莫比都会用自己的视野诠释一个地方的经济及潜能,但除了在说到货币时,稍微提起马币以外,在谈论市场潜能等问题时,麦莫比压根儿忘了他是踏在大马的土地上演说。

不过,在近期写给投资者的通讯录上,麦莫比表示,大马经济虽然放缓,但仍以很好的速度成长,一马发展公司(1MDB)及其他政治纠纷不会对大马造成长期影响。

麦莫比表示,大马已从石油净出口国变成净进口国,油价走跌对大马不造成大影响,此外,因印度及中国对原棕油需求仍强,原棕油价格不会长期走弱。

他也表示:“服务占大马经济的一大块,对我而言,这表示市场已趋向成熟。虽然经济走缓,但仍以蓬勃速度发展。”

“参考其他指标,家债为89%、政府债务占国内发展总值的54%,这对一些观察者而言或显得很高(高于亚洲金融风暴时),但仍比美国低。贸易盈余良好及外汇储备仍处于健康水平。”

他认为,大马的人口结构对前景利好,年轻人口正值产能最大的时候,这能帮助消费产品及旅游业发展。

麦莫比也表示:“如果经济基本面没任何风暴的信号,政治丑闻就是造成外资撤离大马的主要原因。”

他认为,一马发展公司及相关的政治丑闻持续影响投资者情绪及信心,但外资流失通常都是短暂的。

“负面新闻通常都影响消费者情绪,但我们认为,市场过度反应正是机会——若我们找到长期复苏的原因。”

“在今日的大马,我们觉得有一些行业特别吸引,包括综合性油气公司及消费业。”

印尼东盟最大经济体

说到东盟,就不能不提及印尼,印尼,也是麦莫比特别点出的市场之一。

在东盟内,印尼是最大的国家。由1万7508个岛屿组成的千岛国,国土涵盖190万平方公里,相等于6个大马,2700多个新加坡。

印尼也是东盟最大经济体,国内生产总值近9000亿令吉,如此庞大的经济体仍有非常大的发展潜能。

邓普顿投资估计,印尼经济在2016及17年仍能以每年高于5%的速度成长,同时,该国的宏观经济条件也变得更稳健,截至5月外汇储备共有1036亿美元,而国债对国内生产总值比例也从2000年时的87.43%高峰,跌至15年的27%。

对于一个拥有近乎2亿5000万人口的国家,内需自然是市场专注的重点。印尼拥有非常年轻的人口结构,平均只有27.7岁。

根据Euromonitor国际,印尼的中产阶级人口数量位居全球第四,共1730万人,第一为中国1亿1200万人、接着是印度7400万人及美国2530万人,而印尼的家债也只有36.5%,庞大的中产收入结成能支持消费。

此外,零散的1万7508个岛屿及世界闻名的堵车大城雅加达,基建对于印尼而言仍有相当大的发展空间。

虽说如此,但投资印尼还是存有风险,贵为全球最大原棕油出产国,除原棕油以外煤炭及天然气也对该国经济至关紧要,此外,印尼的官僚制度及贪污问题也阻碍前进。

中国外汇储备最充裕

刚结束中国实地考察的麦莫比表示:“中国仍然是最主要的投资国家。”

他认为,虽然中国经济放缓,但还是抛离美国,此外,中国的外汇储备也相当充裕,韩国、香港、巴西、印度、俄罗斯加上台湾都不如一个中国,服务领域占国内生产总值比率在2013年超越制造业,这对麦莫比而言都是好迹象。

不如市场般的悲观,麦莫比认为,中国在基建及房市上仍有相当大的潜能,他说:“很多人都说中国房市会出现泡沫,但我不那么认为,我觉得中国还有建筑及产业的发展可能性。”

除此之外,中国仍然有相当大的发展空间,根据世界银行数据,截至2014年中国共有54%人口住在城市里,相比其他发展国,人口移动可能性仍相当高。

麦莫比表示,在人口移动下,中国基建就变得很重要,大堵车、捷运过份拥挤都是中国需要靠基建改善的问题。

根据经济合作与发展组织(OECD),在2013年,伦敦拥有最多的铁路设施,接下来是巴黎、首尔及东京,相比起这些大城市,人口更多的上海、广州、北京及深圳拥有更少的铁路设施。

除了中国境内的基建计划,麦莫比认为,中国的一带一路计划将会是撼动亚洲基建市场的一个重大计划,推动亚洲的发展。

最完美投资组合?

在演说会场上,有公众提问,什么样的投资组合才是最完美的,麦莫比认为,投资因人而异,但他能跟大家分享,他本身的投资组合。

“70%在股市,15%在固定收入市场,5%在黄金,其余的在房地产。”

“噢,还有,所谓的股市并不是直接买入一家公司的股权,而是买基金。”

投资必须多元化

他认为,这样的投资组合可以抵挡风险,如美国升息及英国脱欧,但他强调,还是得不时调整投资组合,投资,不是一劳永逸的事情。

他强调,投资必须要多元化,不能把所有钱都放在同一个篮子,而所谓的多元化,就是要在地域上多元。

他说:“世界上每个市场都有潜力成为最佳表现的股市,同时,世界上也没有一个市场能永远表现最佳。”

“你知道从年初至今表现最好的股市在哪里吗?”

“不是任何发达市场,而是巴西,如果你买卖股票都只专注在一个国家,那你就错失了一个大好机会。”

在麦莫比的投资组合当中,10大持有的公司分别都集中在印度、韩国、香港,只有一家在台湾,由此可见,麦莫比较为注重的公司都集中在一些已发展至有相当程度,或是人口相当大的国家。

结语:

虽然在过去的两年内,新兴市场表现逊色,但麦莫比仍认为,发展中国家仍然有很大的发展潜能,只要看好公司,得到的收益能超越发达市场。

无论是中国、印度,甚至大马,在麦莫比眼中,这都是非常具吸引力的市场,至于能不能在这些市场投资获利,就得看各自的眼光了。

文章来源:
星洲日报‧投资致富‧红人馆‧文:陈林德‧2016.07.03

Offline GanSoon

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Re: TIME TO INVEST IN BURSA ??
« Reply #1 on: July 09, 2016, 03:19:55 PM »
FBM KLCI erased just 1.68 points to 1,644.54 from last Friday's 1,646.22......

Online king

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Re: TIME TO INVEST IN BURSA ??
« Reply #2 on: July 10, 2016, 07:59:10 AM »



Friday, 8 July 2016 | MYT 10:07 AM
Maybank Research positive on brewers, neutral on consumer sector






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KUALA LUMPUR: Maybank Investment Bank (IB) Research is Neutral on the Malaysian consumer sector but is positive on the brewers, Carlsberg Brewery Malaysia Bhd (Carlsberg) and Heineken Malaysia Bhd (Heineken).

“While we remain cautious of the broader market on still weak consumer sentiment, we take comfort in managements’ continuous focus on cost management which should help support earnings growth in the near term,” it said in a note on Friday.

While earnings growth is likely to be in the single-digit, the research house said forecasted dividend yields remained decent at 5.6% or 5.4% for Carlsberg and Heineken and this should provide support to share prices.

“Moreover, following the recent adjustment of excise taxes in March 2016 for the brewers, we believe regulatory risks have been reduced slightly, implying less downside risk to earnings for now,” it added.

For Carlsberg, Maybank Research maintained its Buy call and earnings forecast and it raised its target price to RM14.70 from RM14.20.

It also maintained its Buy call and earnings forecast for Heineken but raised its target price to RM17.50 from RM15.20.

“Between the two brewers, we prefer Carlsberg for its long-term growth prospects (Singapore export market). Exposure to the Singapore market also serves as a natural hedge should the US dollar strengthen against the ringgit,” it said.

On the tobacco industry, the research house says it was negatively impacted, with a 30% on-year fall in the first quarter of the yeat, following the surprise excise tax hike of about 40% in November 2015.

“Malaysia has been part of the WHO Framework Convention on Tobacco Control (FCTC) since 2005, hence, we feel regulatory risks persist for the sector.

“Malaysia’s excise taxes now account for about 50% of retail price and this suggests upside for more excise taxes.

“However, following the shock to industry volumes post the recent excise hike, we feel that an excise tax freeze might be a possibility,” it said.

On the government’s move to extend the Price Control and Anti-Profiteering Act (PC&APA) until Dec 31, 2016, the research house noted that companies were allowed to increase prices to maintain margins.

“While it may seem that companies are less flexible to adjust prices of products and merchandise for a while longer, we note that companies are allowed to increase prices to maintain margins.

“For example, higher selling prices of goods or services are justified if they are to maintain margins,” it said.

On the minimum wage hike effective July 1, 2016, Maybank Research said 7-Eleven Malaysia Holdings Bhd could relatively be impacted more as the majority (about 75%) of its total staff force of 12,000 are paid below the new minimum wage.

“In the near term, 7-Eleven Malaysia would have to make some price adjustments on merchandise to help cushion the impact.

“In the longer term however, since this is also an industry wide issue, we expect it and its other peers to pass through the higher staff costs through higher merchandise price,” the research house said.

Online The-Keyman

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Re: TIME TO INVEST IN BURSA ??
« Reply #3 on: July 10, 2016, 08:30:29 AM »
Bank analysts say higher yields make emerging markets stocks attractive post-Brexit

The market wobbles since the Brexit vote offered a buy signal for emerging markets (EM) stocks, some analysts said.

And the finger was being pointed squarely at the negative yields on developed markets bonds.

Following the turmoil of the U.K.'s vote to exit the European Union (EU), the combined value of bonds with negative yields jumped to $11.7 trillion, according to a Fitch Ratings report on June 29, marking a 12.5 percent increase since the end of May.

As the Brexit turmoil sent investors fleeing to safe-haven sovereign debt, Japanese bonds maturing in 40 years yielded less than 0.10 percent, while investors paid for the privilege of lending short-term money to Spain and Italy, countries where fiscal profligacy had sparked a crisis only a few years ago.

That made emerging markets equities look good by comparison, analysts said.

"While yields in emerging markets have also come down, they remain considerably higher than anything available in developed markets, and in quite a few cases are rather convincing from a risk-reward perspective," Taimur Baig, chief economist at Deutsche Bank, wrote in a report titled, "Brexit's loss could be EM's gain," on July 1.

"Economies like Brazil, India, Indonesia, and Turkey have their economic, structural, and political issues, but their relative attractiveness is considerable in this negative yield environment," he said.

"These economies will, in all likelihood, deliver higher nominal gross domestic product (GDP) growth rates than their developed market counterparts, which should manifest in higher revenue and profit growth, making a strong case for their equity markets."

That view was echoed by JPMorgan.

"In an emerging market context, you've had commodity stocks absolutely hammered, energy stocks absolutely hammered, exporters absolutely hammered. You have expectations that are very low and market positioning that is very underweight emerging market equities to begin with," James Sullivan, head of Asia-Pacific equities research at JPMorgan, told reporters on June 29. "Then you add into that the overall macro perspective from a rate perspective."

He noted that there were 11 emerging markets where JPMorgan expected significant rate cuts, compared with many developed markets where central banks effectively were no longer able to use interest rates as tools.

 That's why Sullivan was positive on yield-oriented emerging market stocks such as telecommunications, utilities and real-estate investment trusts (REITs).

"If you're in a low growth environment and people are cutting rates, then yield outperforms," he said.

Others were also putting in their two-bits in favor of emerging markets.

Mark Jolley, equity strategist at CCB International Securities, told CNBC's "Squawk Box" on Monday that negative interest rate policies in Japan and Europe were set to continue driving fund flows into emering markets and peripheral developed markets such as Australia.

"Australia doesn't look that great at the moment, emerging markets don't look that great, but relative to these places which are offering negative yield, they look quite good so I think you'll continue to see people buying that market for yield," Jolley said.

Nomura was also more positive on emerging markets in the wake of the Brexit vote, upgrading Southeast Asian markets as a result.

"In a post-Brexit environment where we expect greater policy accommodation (from the Bank of England, the Federal Reserve, the Bank of Japan, the European Central Bank and local central banks), ASEAN (Association of Southeast Asian Nations) should thus continue to outperform," the bank's analysts said in a note on July 1.

"We expect a period of inflows on the back of lower return expectations in Europe and Japan. Within Asia, Asean countries have among the lowest trade linkages and stocks markets' revenue exposure to Europe," it added.

Nomura raised its recommendation on Malaysia to overweight and recommended Indonesia as its "top overweight" in the region.

To be sure, the pivot toward emerging markets wasn't absolute. Deutsche Bank's Baig, for one, said he was cautious on emerging Europe because the region was likely to be affected by Brexit fallout due to strong trade and financial ties to the European Union.

And Goldman Sachs didn't appear to be fully convinced, cutting its target for the MSCI Asia Pacific ex-Japan index in a note dated July 1. Goldman set its index targets at 395, 400 and 430 on a three-, six- and 12-month basis, down from 420, 420 and 425 previously.

While Goldman estimated that Asia's economic growth would only take a hit of about 10 basis point from the Brexit, it noted that "second-order" impacts, such as greater uncertainty weighing domestic spending, could further shave growth in the region.

That was likely to weigh on markets in Asia, the bank added.

"Regional equity markets have historically been closely correlated with those in Europe," it said, estimating the downside risk from a contraction in risk appetite could be 5-10 percent reduction in value for Asia's stock markets.

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Re: TIME TO INVEST IN BURSA ??
« Reply #4 on: July 11, 2016, 09:57:12 AM »



Fund Flow
Foreign investors bought RM93.5 million Malaysian equity last, says MIDF Research
By Surin Murugiah / theedgemarkets.com   | July 11, 2016 : 9:40 AM MYT   
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KUALA LUMPUR (July 11): Foreign tide finally returned to Bursa after 10 successive weeks of selling, though only marginally, according to MIDF Research.

In his weekly fund flow report today, MIDF Research head Zulkifli Hamzah said foreigners turned net buyers last week despite the short trading week.

Bursa was closed on Wednesday and Thursday for Eid al-Fitr festival.

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Zulkifli said that over the three trading days, foreign investors on net purchased RM93.5 million on Bursa, after a negligible RM1.4 million selling the week prior.

He said the estimates are based on transactions in the open market which excluded off market deals.

“We note that the buying momentum from the second half of the preceding week was carried forward as trading commenced on Monday, in which foreigners loaded up RM168.8 million.
 
“It was the third highest daily buying since April 1 this year.
 
“However, the buying momentum halted on the eve of the two-day holiday, in which foreign investors reduced their holding marginally by RM8.3 million during the morning session,” he said.
 
Bursa was closed early that day by noon.
 
Zulkifli said foreign selling resumed when Bursa reopened on Friday, as foreigners sold another RM67 million.
 
“Last week’s foreign net buying has effectively lifted the cumulative net foreign fund flow thus far this year into shares listed on Bursa from the negative territory.
 
“As of last Friday, the year-to-date cumulative flow into Bursa amounted to an estimated RM58.4 million, up from RM35.1 million the week prior.
 
“In retrospect, foreigners had offloaded RM19.5 billion and RM6.9 billion in 2015 and 2014 respectively,” he said.
 
Zulkifli said despite the intermittent trading days last week, foreign participation rate managed to edge up to RM906.5 million from prior week’s RM811.7 million.
 
He said it was the first time it rose above the RM900 million level after one month of moderate trading at less than RM900 million.
 
Zulkifli said local institution sold RM87 million on Bursa last week,
their first net selling in 11 weeks.
 
“Meanwhile, its participation rate declined further to RM1.41 billion from prior week’s RM1.76 billion, amid the short trading week.
 
“Retail buyers continued to be net sellers for the third week in a row. They sold marginally at RM6.5 million. Meanwhile, their participation rate slowed down to RM384.8 million,” he said.

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Re: TIME TO INVEST IN BURSA ??
« Reply #5 on: July 11, 2016, 08:27:04 PM »



财经  2016年07月11日
美日飆高 马股重现生气 第3季走势仍无看头

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美日飆高 马股重现生气 第3季走势仍无看头
日本参议院选举执政党大胜,日股飆高3.98%,收报15708.82点。

(吉隆坡11日讯)美国週五交出优于预期的就业数据,推高美股,加上,日本参议院选举执政党大胜,日股飆高,让过去一周因佳节期间交投淡静的马股,今日恢復生气,不过,分析员普遍认为,马股第3季仍无看头

国6月份就业数据远较预期佳,美股上週五以接近歷史新高水平闭市。亚洲股市週一大好,日股週一走高3.98%,韩国、台湾香港股市均升1%以上。

日本参议院选举中,执政党自民党连同盟友公明党贏得超过改选后过半数议席,首相安倍晋三擬改组內阁,並最快8月上旬决定改组方针,传首要刺激经济,日股向上走,日经平均指数闭市升601.84点或3.98%,收报15708.82点。

个股方面,任天堂受惠新推出的手机游戏PokemonGo受欢迎,飆22%。


马股上週因为开斋节假期而交投淡静,今日大部份投资者已经重返市场,马股儘早一度涨至1656.49点,闭市报1653.87点,上涨9.33点或0.57%。

回顾过去一个季度,在全球经济动盪和英国脱欧后动向不明朗等因素中,富时大马综合指数仍保持平稳;展望2016年第3季,市场人士认为,企业业绩料延续疲软,因此,在未迎来任何新利好因素之前,综指將继续窄幅波动。

在英国宣布退出欧盟后,肯纳格研究分析员原以为,综指將迎来一轮大震盪,但市场却出乎意料的冷静;分析员指,这是因为美联储加息预期减弱所致,欧盟波动和美国大选都使美联储放缓升息步伐。

肯纳格研究认为,综指將持续在1630点至1670点间窄幅波动;若其他可造成股市波动的因素出现,综指的波幅料可扩大至1585点到1715点区间。

「然而,截至目前为止,综指成份股盈利仍未有好转的跡象,过高估值亦让人避而远之。」

肯纳格研究分析员预测,综合指数成份股2016年和2017年的盈利增幅为2.3%和7.8%,相等于18.8倍和17.5倍的本益比,远高于歷史本益比17.5倍至18倍。

展望未来,有鑑于英国脱欧料导致国际贸易减缓,迫使投资计划喊停,令民眾採取观望態度,进而衝击经济成长,MIDF投行分析员將大马国內生產总值(GDP)成长从4.4%,下调至4%。这预示著企业盈利下滑风险將隨之增大。

MIDF投行分析员也调低所追踪的综指成份股2016年盈利预测2.7%,至551亿8000万令吉,同时,將马股全年盈利预测下调2.4%,至717亿4000万令吉。

「企业盈利和估值都会直接影响指数表现。不过,当各国央行有意採取行动、减缓英国脱欧带来的衝击,有助扩大股市估值,料降低盈利减少的风险;因此,我们重申综指2016年杪目標1750点。」

3大因素支撑综指

同时,肯纳格研究分析员也指出,综指有3大支撑因素,降低下行空间,即:一、综指在约1610点形成双底形態,而1665点则是第一道阻力水平;二、外资撤走步伐放慢,料有利于令吉匯率和油价趋向稳定;三、市场不会进一步下调综指2016年目標。

「儘管如此,按照以往第3季业绩表现,我们不排除今年第3季业绩继续疲软,加上我国银行体系游资未有起色。」

有鑑于此,在假设目前综指水平的上行空间少于5%的情况下,肯纳格研究分析员稍微调低2016年杪综指目標,从1725点,至1715点,该目標水平亦是以2016年19.6倍和2017年18.2倍的本益比计算。

除此之外,基于市场可能再掀巨大波动,该分析员也扩大其2016年第3季趁低买进区间至1585到1630点,並建议投资者在综指超越1715点后趁高卖出。

至于投资建议,肯纳格研究分析员各別给予建筑、手套、塑料包装和能源领域「增持」投资评级,而MIDF研究分析员则看好航空、油气、种植、港口、保险和医疗领域。

有別于MIDF研究分析员,肯纳格研究分析员则给予医疗、汽车和房產领域「减持」投资评级,並「中和」看待其余未点名行业。

他也称,「我们正面看待抗跌性强和有高週息率的股项,业绩按年及按季均有成长的企业亦是不错的选择。同时,隨著美元走强和投资者偏好避险股项,我们相信,出口股將再次受投资者喜爱

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Re: TIME TO INVEST IN BURSA ??
« Reply #6 on: July 12, 2016, 07:23:53 AM »



Bursa sees return of net foreign buying
Posted on 12 July 2016 - 05:39am
Print
PETALING JAYA: The foreign tide finally returned to Bursa Malaysia last week after 10 successive weeks of selling, with foreigners turning net buyers despite the short trading week, said MIDF Research.

Over the three trading days last week, foreign investors net purchased RM93.5 million on Bursa, after a negligible RM1.4 million selling the week prior. The estimates are based on transactions in the open market which excluded off market deals.

“We note that the buying momentum from the second half of the preceding week was carried forward as trading commenced on Monday, in which foreigners loaded up RM168.8 million. It was the third highest daily buying since April 1 this year,” it said in its fund flow report yesterday.

However, the buying momentum halted on the eve of the two-day holiday (Tuesday), in which foreign investors reduced their holding marginally by RM8.3 million during the morning session.

Bursa was closed early on Tuesday by noon. Foreign selling resumed when Bursa reopened on Friday, as foreigners sold another RM67 million.

MIDF Research noted that foreign net buying last week effectively lifted the cumulative net foreign fund flow thus far this year into shares listed on Bursa from the negative territory.

As of last Friday, the year-to-date cumulative flow into Bursa amounted to an estimated RM58.4 million, up from RM35.1 million the week prior. In 2014 and 2015, foreigners had offloaded RM6.9 billion and RM19.5 billion respectively.

“Despite the intermittent trading days last week, foreign participation rate managed to edge up to RM906.5 million from prior week’s RM811.7 million. It was the first time it rose above the RM900 million level after one month of moderate trading at less than RM900 million,” it said.

Local institutions sold RM87 million on Bursa last week, marking their first net selling in 11 weeks. Participation rate declined further to RM1.41 billion from prior week’s RM1.76 billion, amid the short trading week.

Meanwhile, retail buyers continued to be net sellers for the third week in a row, selling marginally at RM6.5 million. Their participation rate slowed down to RM384.8 million.

The short trading week saw the KLCI retreating marginally by 0.1% to 1,644.54 points while the ringgit depreciated by 0.9% to US$/RM4.03 after a strong performance in the week prior.

“Oil price continued to hold bearing on ringgit’s movement. The retreating oil price was potentially the catalyst to the 1.3% decline in ringgit’s strength on Wednesday morning,” said MIDF Research.

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Re: TIME TO INVEST IN BURSA ??
« Reply #7 on: July 16, 2016, 11:19:58 AM »



Checkmating market syndicates
By Cheah Chor Sooi
Friday, 15 Jul 2016, 12:30 AM
         


Seasoned investors know that logic doesn’t necessarily prevail in stock trading. Fundamentally weak stocks can see steep rises in prices while those with good prospects can experience price slides.

Such irrational behaviours have given rise to talk that stocks are sometimes manipulated by syndicates or groups of people who “push” these stocks up or down. These syndicates are also undeterred by the fact that these stocks are queried by Bursa Malaysia for any unusual market activity (UMA).

A good example is the trading of penny stocks, including their warrants, which continue to hog the limelight attracting keen interest from punters. They can be highly speculative or volatile although some have zero fundamentals.

For retail investors who make up one-fifth of Bursa’s stock trading participation, delving in penny stocks has become a way to make quick gains. But this could be potentially risky as they are oblivious to the invisible hands in action.

And many a time, such invisible hands and their manipulative manner thrive on the pump-and-dump strategy with large block of shares acquired, price ramped up and followed by dumping of an enormous quantity. Such market behaviours would eventually leave stock chasers who are not wary of the hidden agenda getting their fingers burnt.


For the full story, please subscribe to Focus Malaysia.
- See more at: http://www.focusmalaysia.my/Mainstream/Checkmating%20market%20syndicates#sthash.0Doubq9V.dpuf

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Re: TIME TO INVEST IN BURSA ??
« Reply #8 on: July 16, 2016, 11:44:29 AM »



Edge Weekly
It's penny stocks open season
By Tan Choe Choe / theedgemarkets.com   | July 16, 2016 : 11:20 AM MYT   
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KUALA LUMPUR: Groups of local sophisticated investors, comprising high-net-worth individuals, have pooled funds amounting to RM200 million to actively buy into Bursa Malaysia-listed penny stocks - defined as those priced at less than RM1 — in the next few months, which marks the beginning of open season for penny stocks, according to sources with local investment banks.

Of the exclusive investment clubs being formed, one of them is eyeing 20 penny stocks and so far has identified at least three potential target companies, according to The Edge Malaysia's cover story for the week of July 18-July 24, entitled 'Riding the penny stock roller coaster' by Liew Jia Teng.
   
“They are approaching a few investment banks to help them hunt for penny stocks that are valued at below 50 sen per share, preferably loss-making and debt-laden companies in the services and manufacturing sectors. Basically, they will come in as white knights with restructuring and turnaround plans,” a source told the weekly.

The development is not unheard of as the period from June to August is usually the most popular season for the trading of penny stocks because it is easier to create excitement when the market is running low on ideas, another source highlighted.

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0:18


“It’s not something unusual because it happens almost every year, but I would say that the situation is getting more severe this year. There are always concerns that the so-called ‘white knight’ investors may pull out their investments after the share prices move up, leaving some clueless retail investors in limbo,” he warned.

The high-velocity penny stock world has also always been a playground for traders and speculators, who seek to make quick and easy money in a short period of time.

But for retail investors, the highly speculative nature in penny stocks trading is like playing musical chairs — fun and exciting when you're winning, but you don't want to be left holding the shares when the rally stops.

Areca Capital Sdn Bhd CEO Danny Wong Teck Meng cautioned that while the backgrounds of the white knights do carry a certain weight, it is more important to keep track of the execution of their turnaround plans, and advised retail investors not to be overly excited about the turnaround game plan before it is carried out.

But among those who are seeing a positive turnaround is Borneo Oil Bhd, after Tan Sri Lau Cho Kun emerged as a substantial shareholder in the company in October 2014, cited Wong. Cho Kun is the nephew of the late Tan Sri Lau Gek Poh, who founded the Hap Seng Group.

Last July, Bursa approved Borneo Oil’s rights issue with free warrants, enabling it to raise RM223.39 million to expand its gold mining operations in Peninsular Malaysia. In its first quarter ended April 30, 2016 (1QFY17), net profit rose over 20-fold to RM10.7 million from RM525,000 a year ago, while revenue expanded over 100 times to RM1.5 billion, from RM14.6 million previously.

But a white knight does not guarantee a happy ending, as evidenced in the numerous cases of ambitious plans — be it corporate turnarounds, restructuring exercises or business diversification projects — that never came to fruition or have yet to materialise over the years — the weekly wrote.

Take maker Anzo Holdings Bhd for example. Formerly known as Harvest Court Industries Bhd, it aborted plans in 2014 to work with 1Green Enviro Sdn Bhd and Sagajuta (Sabah) Sdn Bhd, whose chairman was Datuk Mohd Nazifuddin Najib, the son of Prime Minister Datuk Seri Najib Razak.

During Nazifuddin’s brief tenure as a director of Harvest Court — from Oct 28 to Nov 21, 2011 — the company signed an agreement to design and build a RM70 million pulp and paper plant in Negeri Sembilan to process oil palm empty fruit bunches for 1Green Enviro, and another for a RM129 million contract to participate in Sagajuta’s mixed-use development in Kota Kinabalu, Sabah.

Nazifuddin and Harvest Court’s then CEO cum managing director Datuk Raymond Chan Boon Siew were founders, directors and shareholders of 1Green Enviro as well as the management behind Sagajuta. But both business diversification plans were called off and Harvest Court remains in the red with a net loss of RM10.85 million in the financial year ended March 31, 2016.

So given the uncertainty, changes and high risks associated with investing in penny stocks, those who want to take the chance and are willingly go on a roller-coaster ride should be aware of the downside risks, the weekly noted.

To find out more, including what are the top 20 loss-making penny stock companies and top 20 debt-laden ones, check out The Edge Malaysia now at newsstands near you.

P/S: The Edge Malaysia can also be downloaded from Apple's AppStore and Androids' Google Play.edg

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Re: TIME TO INVEST IN BURSA ??
« Reply #9 on: July 16, 2016, 12:16:00 PM »
CORRECTION LOH....!!

 HEADLINE SHOULD READ;  " IS TIME TO SPECULATE STOCK-BURSA"

REASON; IF BUY 20 LOSS MAKING PENNY STOCK- IT SHOULD BE SPECULATION MAH....!!

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Re: TIME TO INVEST IN BURSA ??
« Reply #10 on: July 16, 2016, 02:28:07 PM »



2016-07-16 12:23
马股IPO冷飕飕.上半年仅6宗.集资额急挫66%
大马股市在过去6个月仅迎来6宗首次公开售股(IPO),尽管录得与去年同期相同的数量,惟集资额却远逊去年同期。
(吉隆坡15日讯)大马股市的新公司上市活动继续吹冷风,在过去6个月仅迎来6宗首次公开售股(IPO),尽管录得与去年同期相同的数量,惟集资额却远逊去年同期。

广告

集资额不足10亿

总结上半年,6宗IPO集资额不足10亿令吉,仅达9亿7480万9555令吉,对比去年同期(未包括指数基金)的28亿3176万9460令吉,下跌65.58%。

去年同期最大宗的IPO为马拉科夫(MALAKOF,5264,主板贸服组),集资约27亿4000万令吉,今年上半年的则是联熹(RANHILL,5272,主板贸服组),集资5亿7000万令吉。

去年全年共有13宗IPO包括两宗指数型基金,为25年来最少IPO的1年,11宗上市公司集资额共达41亿2448万4940令吉。

尽管上市集资额偏低,在今年已上市的6家公司中,新股发售计划大部份都获得投资者热捧,而且大都录得超额认购,甚至在首日上市当天以溢价挂收。

广告

LKL国际最出色
联熹表现最差

在今年上半年上市的公司当中,有4家上市马股主板剩余则在创业板挂牌,当中要以在创业板挂牌的LKL国际(LKL,0182,创业板消费品组)表现最为出色,不但获得92.84倍的超额认购,甚至在上市首日,即以溢价8仙或40%至28仙挂收。

这当中只有重新上市的联熹表现最差,尽管该公司是今年至今最大宗的IPO,惟认购率却仅有13%,甚至必须将发售价调低至1令吉20仙,而且上市首日也以折价19仙或15.83%,以1令吉零1仙收市,表现差强人意。

PECCA集团(PECCA,5271,主板工业产品组)则总共发售1亿8800万股,集资1亿2939万8920令吉;最小宗的IPO为LKL国际,共发售4亿2880万股,集资2260万令吉。

据大马交易所资料显示,7月及8月将会有两家公司上市,分别是预定于7月21日上市主板的Dancomech控股及预计在下月10日在创业板挂牌的HSS工程有限公司。

H S S工程早在去年8月已经提呈初步招股书给证券监督委员会(SC),惟却延迟至一年后的今年8月才上市。

证监会网站资料则显示,尚有两家在去年提呈初步招股书,惟至今尚未上市的公司,分别是TelentOutdoor(香港)科技公司和Spring能源资源有限公司。



8公司呈初步招股书

尽管马股IPO数量在近期出现下滑的现象,但是在今年至今为止,已有8家公司提呈初步招股书给证监会。

其中吉隆(SALUTE,0183,创业板消费品组)已于今年5月上市,而Dancomech控股也预定7月上市。

剩余则包括绿盛世国际(EcoWorld International)、HLT全球有限公司(H L T G l o b a l)、霹雳运输有限公司(P e r a kTransit)、BCM联合有限公司(BCMAlliance)、FoundPac集团有限公司(FoundPac Group Berhad)和Rhone Ma控股有限公司(Rhone MaHoldings Berhad)。

当中备受瞩目的要数与产业钜子丹斯里刘启盛有关的绿盛世国际,该上市计划是迄今已知最大宗的IPO,预计筹资26亿令吉。

据资料,绿盛世国际原订本月上市,惟为了引进来自新加坡的显著股东,因此将上市计划延后至9月或10月。

文章来源:
星洲日报/财经‧报道:刘玉萍‧2016.07.16

Offline GanSoon

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Re: TIME TO INVEST IN BURSA ??
« Reply #11 on: July 16, 2016, 03:15:06 PM »
Bursa Malaysia is likely to trend higher next week on improved sentiment including Bank Negara's overnight policy rate (OPR) cut, rebound in oil prices, global bank stimulus and a stronger currency.

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Re: TIME TO INVEST IN BURSA ??
« Reply #12 on: July 16, 2016, 03:22:16 PM »
Bursa Malaysia is likely to trend higher next week on improved sentiment including Bank Negara's overnight policy rate (OPR) cut, rebound in oil prices, global bank stimulus and a stronger currency.

Are you sure !!! :think: :think: :think: :think: :think: :think:

Only local institutions playing left hand playing right hand... :sleep: :sleep: :sleep:
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Offline CurryLee

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Re: TIME TO INVEST IN BURSA ??
« Reply #13 on: July 16, 2016, 03:35:38 PM »
Yes yes....veli big bull kambing...property, construction and automobiles activated ady.... The wheel start moving.....many many counters see silver lining ady.....

 :clap: :clap: :clap: :nod:

Buy what? Kan cheong ady..... :D
malimalimaliongongongnotongchefbutishua thuatong

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Re: TIME TO INVEST IN BURSA ??
« Reply #14 on: July 16, 2016, 07:49:28 PM »
The U.S. stock market should not be trading at record highs because the data on fund flows don't support the moves, said Larry Fink, chairman and CEO of BlackRock, the world's largest asset manager.

"I don't think we have enough evidence to justify these levels in the equity market at this moment," Fink said Thursday on CNBC's "Squawk Box."

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Re: TIME TO INVEST IN BURSA ??
« Reply #15 on: July 16, 2016, 08:05:35 PM »
Tech and financial stocks headline the first big week of earnings season at the risk of being overshadowed by a coup attempt in NATO-member Turkey late Friday.

Stocks rose for a third-straight week Friday as the Dow Jones Industrial Average DJIA, +0.05%  closed at a fourth-straight record high. For the week, the Dow industrials rose 2%, while both the S&P 500 Index SPX, -0.09%  the Nasdaq Composite Index COMP, -0.09%  1.5%.

Those gains may fall under pressure from skittish investors following reports of a military coup in Turkey late Friday after the close of U.S. markets, prompting the U.S. dollar to rally against the Turkish lira USDTRY, +4.9161%

While events in Turkey play out, the worst thing to do is panic and join a selloff as geopolitical risk is always on the investment landscape, said Karyn Cavanaugh, market strategist at Voya Investment Management. This should be fresh in investors’s minds given the selloff in stocks following the Brexit vote followed by a rebound to record highs, she said.

With that said, stocks will likely open lower on Monday because of the fresh uncertainty surrounding the events in Turkey, Cavanaugh said.

Please take care of your hard earn moni on Monday.  Thank you.  :handshake: :handshake: :handshake:

http://www.marketwatch.com/story/turkey-uncertainty-may-put-stocks-under-gun-2016-07-16

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Re: TIME TO INVEST IN BURSA ??
« Reply #16 on: July 16, 2016, 09:10:41 PM »
Turkey so big effect meh?
Tech and financial stocks headline the first big week of earnings season at the risk of being overshadowed by a coup attempt in NATO-member Turkey late Friday.

Stocks rose for a third-straight week Friday as the Dow Jones Industrial Average DJIA, +0.05%  closed at a fourth-straight record high. For the week, the Dow industrials rose 2%, while both the S&P 500 Index SPX, -0.09%  the Nasdaq Composite Index COMP, -0.09%  1.5%.

Those gains may fall under pressure from skittish investors following reports of a military coup in Turkey late Friday after the close of U.S. markets, prompting the U.S. dollar to rally against the Turkish lira USDTRY, +4.9161%

While events in Turkey play out, the worst thing to do is panic and join a selloff as geopolitical risk is always on the investment landscape, said Karyn Cavanaugh, market strategist at Voya Investment Management. This should be fresh in investors’s minds given the selloff in stocks following the Brexit vote followed by a rebound to record highs, she said.

With that said, stocks will likely open lower on Monday because of the fresh uncertainty surrounding the events in Turkey, Cavanaugh said.

Please take care of your hard earn moni on Monday.  Thank you.  :handshake: :handshake: :handshake:

http://www.marketwatch.com/story/turkey-uncertainty-may-put-stocks-under-gun-2016-07-16
malimalimaliongongongnotongchefbutishua thuatong

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Re: TIME TO INVEST IN BURSA ??
« Reply #17 on: July 16, 2016, 10:32:40 PM »
The U.S. dollar soared against the Turkish lira Friday after reports of gunfire in Ankara, the capital of Turkey.

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Re: TIME TO INVEST IN BURSA ??
« Reply #18 on: July 17, 2016, 09:46:46 PM »


【独家】马股缺乏动力 公司业绩低迷
IPO市场寒流来袭
252点看 2016年7月17日
独家报道:姚思敏
大马首次公开募股(IPO)市场,一年比一年淡静,进入今年更可说是寒流来袭;2010年,隆股市有29只新股上市,去年锐减至13只,今年首半年更仅有区区的6只!

同时,筹资规模也大缩水,今年首半年仅达7亿9159万令吉,远低于去年的41亿4048万令吉。


研究主管认为,下半年IPO市场依然是冷风飕飕,风有多大,温度有多低?那要看两大关键会否恶化。

IPO淡市两大因素

市场游资

目前市场流动性相当低迷,外资对马股购兴又不强,要筹大笔资金的公司,担心市场资金不足以吸纳发售的股票。

经济实况

经济放缓拖累企业,没有亮眼的业绩支撑,谈什么上市?

仅6新股上市筹8亿
上半年IPO规模挫77%

外资4月末在大马股市正式结束连续10周的购买潮后,转为净卖家,今年至今的净资金流向更一度在6月转为负数,这也导致上半年我国首次公开募股(IPO)市场陷入低迷。

忧中带喜的是,今年的新股除了联熹控股(RANHILL,5272,主板贸服股)外,其余的股价皆走高,当中LKL国际(LKL,0182,创业板),更在上市后短短两个月激增47.50%,成为黯淡IPO市场中的亮点。

展望下半年 ,最大的焦点将是9月或10月上市的绿盛世国际(EWI),该公司放眼筹资20亿令吉,有望成为马股今年最大型的IPO。

研究主管认为,虽然看淡下半年IPO市场,但假设我国第14届大选提前举行,将有助提振股市及IPO市场。 我国最迟必须在2018年5月,举行全国大选。


徐克宇:大环境疲弱,导致缺乏大型公司挂牌。

根据马交所的数据,今年上半年有6只新股,而待定的上市计划只有两项,分别是Dancomech控股和HSS工程(HSS Engineers Berhad)。

由于新股的每股发售价皆偏低,所以IPO规模也大大缩小,只有7亿9159万令吉。

相比去年,今年首半年上市数量不仅减半,IPO规模更从41亿4048万令吉,锐减77%。

丰隆投行研究主管兼经济学家徐克宇对《南洋商报》表示,今年上半年IPO市场很淡静,主要是因为我国经济放缓。

“这一两年的经济增长持续放缓,企业活动并不多,加上大型公司大部分都已经上市了。”

他认为,大环境疲弱,导致缺乏大型公司挂牌,今年上半年上市的公司多属小型股,筹资规模不大。

徐克宇指出,英国脱欧影响,绿盛世国际(EWI)从原定在上半年上市,不得已延后至下半年。

担心缺乏购兴

到底是马股缺乏流动性,还是缺乏优质新股,导致IPO市场低迷?

徐克宇认为,这是先有鸡还是先有蛋的问题。

“外资撤离马股,公司担心缺乏购兴,无法获得合理价格,而不愿上市。”

此外 ,新上市的多属于小型股,筹集规模不大,风险也相对较高,更无法吸引投资机构。


冯廷秀:外资停止卖压,有助稳住股市和IPO市场。

两个月无新股

InterPacific研究主管冯廷秀对本报说,今年IPO市场低迷,只有6家公司在上半年上市,而且多般是小型股,筹资规模不大,因担心市场流动性少,不足以吸纳大型集资活动。

冯廷秀指出,由于市场流通性相当低,很少资金来马投资,所以今年的IPO数量不多,而规模也不大。

今年新上市的公司,发售价偏低,最高是PECCA集团(PECCA,5271,主板工业产品股)达1.42令吉。

更让人警惕的是,联熹控股(RANHILL,5272,主板贸服股)因为IPO反应冷淡,在通过竞标定价(Book-building)后,最终将原定1.70令吉的散户发售价,削价50仙至1.20令吉。

他强调,特别是在吉隆公司(SALUTE,0183,创业板)于5月18日上市之后,至今约两个月没有新股,相信是因为外资抛售马股,导致市场情绪疲弱。


外资结束抛售潮

吉隆公司是在4月28日开始公开售股至5月6日,当时,是外资展开抛售潮的开端。

受到一个马来西亚发展有限公司(1MDB)事件的拖累,外资从3月净买入60亿8000万令吉,在4月锐减至4亿3390万令吉,之后更转为净卖出。

不过,截至7月8日一周,外资重回马股的怀抱,再度转为5840万令吉净买入。

冯廷秀说:“外资停止卖压,有助稳住股市和IPO市场。”

接下来会有两家公司上市,即Dancomech控股和HSS工程(HSS Engineers Berhad)分别在7月和8月挂牌,反映出外资抛售潮结束后,上市活动又回暖了。

虽说外资在英国脱欧公投后结束抛售,但也看不到回头买入马股,所以冯廷秀认为,市场流动性趋紧,散户市场也相当谨慎。


我国这一两年的经济增长持续放缓,企业活动并不多。(档案照)

MSCI调低权重外资将续减少

长期而言,冯廷秀认为,外资会持续减少,因为MSCI将大马在新兴市场指数的权重调低。

“在20年前,大马权重在MSCI新兴市场指数有20%。不过,现在却调低至3.09%。”

他指出,很多基金都会购买指数基金,并会根据指数的权重比例而分配资金。

因此,一旦其他市场开放,提高吸引力之后,或许富时隆综指数的权重将会进一步下跌,而分配在综指的基金也会减少。

冯廷秀认为,除非大马经济加速改革,否则无法吸引外资回头。

“在1990年代时,我国经济增长8%左右,到2000年代下跌至6%,而现在则再降到3%至4%。”


马交所今年上半年有6只新股上市,分别是柏昇、吉隆公司、LKL国际、振兴集团、联熹控股及PECCA集团。(档案照)

网上融资威胁IPO市场

假设宏观经济增长持续低迷,将使到更多企业走向网上融资,如股票型群众筹资(Equity Crowdfunding)和P2P(Peer-to-peer Lending)借贷平台,IPO市场将会更加淡静。

徐克宇表示,新经济模式的崛起,将导致融资模式出现改变。

“不少企业已改变经商模式,通过互联网与更大的客户群挂钩,所以将把企业推向网上融资方式。”

他补充,通过老旧经商模式的企业,都已经上市了。

大马证券监督委员会持续利用科技,提供创新网络金融解决方案,包括积极推动股票型群众筹资和P2P借贷平台,让资金市场更具包容性,中小企业和新创企业亦有机会接触市场融资。

不过,冯廷秀认为,虽然不排除网上融资会对IPO市场造成威胁,但目前仍属新崛起行业,相信目前还不会冲击IPO市场。

互补实质上市

相同的,JF Apex证券研究主管李忠正表示,网上融资不会直接成为IPO市场的竞争对手,而是扮演互补的角色。

“相比IPO,网上融资无需企业强劲的记录,特别是给创新企业融资。”

同时,李忠正认为,企业通过IPO上市的地位不同,所取得的名声也会更高。

GST拉低业绩难达上市门槛

冯廷秀认为,除了市场流动性低之外,能够上市的公司不多,也是导致IPO市场淡静的因素。

“由于我国经济增长放缓,加上政府在去年4月开始落实消费税(GST),导致很多企业的业绩欠佳,因此,很难建立良好的记录并达到马交所上市要求,特别是要上市主板的门槛。”

政府宣布,从7月开始调涨天然气售价,以及最低薪金制从900令吉,提高至1000令吉,亦加重我国企业的营运成本压力。

自去年下半年开始,国内上市公司的业绩普遍逊于预期,有分析员认为,今年企业盈利会持续放缓。

冯廷秀认为,IPO市场将会低迷至今年底。

大选有助推动股市

不过,他说,假设我国大选提早至明年举行,将会推动今年股市在年杪走高,或提振明年IPO市场。

他指,目前和2012年的情况相同。“2012年的IPO市场也相当淡静,上市公司数量从2011年的28家,大减至17家。不过,在2013年举行全国大选,成功在同年追赶并维持相同的新上市公司数量。”

不过,全国大选效应一过,又在2014和2015年,分别跌至15和13家。


上市两个月飙47.50%LKL国际傲视新秀

今年上半年上市的新股,除了联熹控股之外,股价走势强劲,最低都取得超过10%的增幅。

其中,以LKL国际(LKL,0182,创业板)表现最出色,从5月16日上市至今,短短两个月内飙涨47.50%。

吉隆公司(SALUT

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Re: TIME TO INVEST IN BURSA ??
« Reply #19 on: July 18, 2016, 06:59:44 PM »



2016-07-18 17:23
外资持股率反弹‧马股双重受惠
马股的外资持股率已跌至谷底,最近出现反弹净回流迹象,加上马币汇率落入扬升趋势,外资持股率偏低的股项或领域将从中受惠,马股浮现“一石二鸟”优势,有望从股价及货币汇率双双走高中获利。

(图:法新社)
(吉隆坡18日讯)马股的外资持股率已跌至谷底,最近出现反弹净回流迹象,加上马币汇率落入扬升趋势,外资持股率偏低的股项或领域将从中受惠,马股浮现“一石二鸟”优势,有望从股价及货币汇率双双走高中获利。

广告

马股受惠于股价及汇率走高

回教银行研究认为,随着马币汇率前景靠稳,推动外国游资流入,使马股将从中受惠。马股已经连续两周从外资流入正面效应中走高。

虽然2016年第二季外资净流出,惟马股数个股项的外资持股却是有增无减。

回银研究持续看好外资持续买进的股项,特别是一些股项的外资持股已接近“谷底”水平。

该行认为,虽然隔夜政策利率上周降息,惟马币汇率却落入扬升势趋,特别是马币兑美元汇率走高,这有助于吸引更多外资回流马股。

广告

 
马币走高有助吸资
外资过去两周回流

自今年6月份,马股表现大幅度落后全球股市,不过,此趋势在过去两周却出现扭转迹象,马股今年第27周外资净流入9400万令吉、第28周则流入7亿6400万令吉,从而推动马股综指创下今年5月3日以来最高水平。

回银研究指出,外资在马股富时大马伊斯兰股项的沽售已接近谷底,特别是一些股项的外资持股额,比马股在2014年首半年创下最高峰时期还要高。

马币兑主要货币走高,包括美元、日圆和欧元,这些地区也是大马主要贸易伙伴。

回银研究预测马币兑美元汇率将持稳,今年杪目标将落在3.85至3.90之间水平。有鋻于此,投资者进场马股将收“一石二鸟”

之效,即可从马股价格及货币汇率双双走高中获利。

马币兑美元今日回软,截至下午5时报3.9720。

外资第28周猛流入7.64亿

回银研究预测外资在马股的沽售已经干涸,在今年连续10周(第17周至25周)持续净流出约64亿令吉之后,于第27周开始转为净流入9400万令吉,并且在第28周猛流入7亿6400万令吉。

外资在2016年首季大量流出,使马股富时大马综合指数下跌3.7%,反观当外资净流入54亿令吉时,综指扬升1.4%。

根据在2014年首季至2016年第二季期间对马股30个伊斯兰股项的外资持股趋势剖析显示,在这期间,一半股项的外资持股在2014年达到最高水平,这也是马股创下历来最高峰时刻。

过去3季
数领域股价与外资持股率相关

回银研究剖析显示,过去3个季度,马股数个领域的股价表现与外资持股率息息相关,包括公用事业、通讯、油气、医药保健、以及非伊斯兰股项的银行领域。

伊股走势与外资持股一致

根据观察,马股数个伊斯兰股最近的股价走势,与外资持股走势一致,包括国家能源(TENAGA,5347,主板贸服组)、柔佛医药保健(KPJ,5878,主板贸服组)、西港(WPRTS,5246,主板贸服组),以及全利资源(QL,7084,主板消费品组)。

马电讯金务大受看好

上述4个股项是在5项股项中(除了IHH医保(IHH,5225,主板贸服红)皆获得“买进”评级。除此之外,该行也看好马电讯(TM,4863,主板贸服组)及金务大(GAMUDA,5398,主板建筑组),因也将从外资回流中受惠。

回银研究指出,投资者也可考虑外资持股大幅度下跌的领域或个股,包括一些产业股如UEM阳光(UEMS,5148,主板产业组)及双威(SUNWAY,5211,主板产业组),预料股价有望在外资回流中回扬。



文章来源:
星洲日报‧财经‧报道:李文龙‧2016.07.18

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Re: TIME TO INVEST IN BURSA ??
« Reply #20 on: July 19, 2016, 07:07:19 AM »



Second straight week of net foreign buying
Posted on 19 July 2016 - 05:38am
Print
PETALING JAYA: The foreign tide into Bursa Malaysia accelerated substantially last week, marking the second consecutive week of inflow, according to MIDF Research.

The net amount purchased by foreign investors increased significantly to RM764.2 million from RM93.5 million the week prior. It was the biggest weekly net inflow in more than three months. The estimates are based on transactions in the open market, which excluded off-market deals.

Foreigners were net buyers on every trading day last week. They have been buying on nine out of 11 straight days.

“We note that the attrition in the preceding Friday was transient, as foreign investors increased their holding with RM39.6 million when Bursa commenced on Monday, with the buying ticked up slightly to RM45.3 million on the following day,” MIDF said in its fund flow report yesterday.

“Bank Negara Malaysia’s Wednesday overnight policy rate cut was arguably the catalyst of the week.”

The cumulative net foreign fund flow thus far this year into shares listed on Bursa improved considerably after last week’s robust inflow. As of last Friday, the year-to-date cumulative flow into Bursa has moved further away from the negative territory to an estimated RM822.6 million, up from RM58.4 million the week prior.

In retrospect, foreigners had offloaded RM19.5 billion and RM6.9 billion in 2015 and 2014 respectively.

“Foreign participation rate continued to improve, edging up to RM1.09 billion last week from prior week’s RM906.5 million. This was the first time it rose above the RM1 billion level in the past six weeks,” said MIDF.

Local institutions were net sellers on Bursa for the second straight week, offloading some RM702.5 million

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Re: TIME TO INVEST IN BURSA ??
« Reply #21 on: July 22, 2016, 02:19:35 PM »



Malaysia’s fiscal deficit to improve to 3.1pc of GDP this year, says Affin Hwang
Published: July 22, 2016 12:28 PM GMT+8

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Malaysia's fiscal deficit was forecasted to further improve to 3.0 per cent in 2017. — Picture by Yusof Mat Isa
Malaysia's fiscal deficit was forecasted to further improve to 3.0 per cent in 2017. — Picture by Yusof Mat Isa
KUALA LUMPUR, July 22 — Affin Hwang Investment Bank Bhd has projected Malaysia’s fiscal deficit to improve 0.1 per cent to 3.1 per cent of Gross Domestic Product (GDP) this year from 3.2 per cent last year on the back of improving global oil prices.

The fiscal deficit was forecasted to further improve to 3.0 per cent in 2017.

The investment bank said global oil prices have recovered strongly since reaching a 12-year low of between US$26 and US$28 per barrel in mid-January 2016 to about US$47 per barrel currently.

It said between January and mid-July, Brent crude averaged around US$42 per barrel, and is likely to remain at around the US$48-US$50 level in the remaining months of 2016, bringing the full-year average to around US$45 per barrel.

“Given that about 14 per cent of the Malaysian government’s revenue for 2016 is likely oil-related, we believe the recovery in oil prices has lifted some pressure on the country’s fiscal position,” it said in a research note today.

The investment bank said back in early January, in response to the lower collection of oil-related revenue, as well as to maintain the fiscal deficit position at 3.1 per cent of GDP, the government had resorted to optimise both the operating expenditure (OPEX) and development expenditure (DE), through cost-cutting in non-critical spending, such as supplies and services.


“The DE was reduced to RM46 billion and RM45 billion on average oil price assumptions of US$35 and US$30 per barrel respectively,” it said.

It said this was done through rescheduling non-physical projects and projects still under study, reducing the cash flow commitment by RM4 billion-RM5 billion, with infrastructure projects with larger multiplier effects to be prioritised and carried out.

“Based on our estimates, with recent oil prices having rebounded to the US$46-US$48 per barrel range, and averaging at around US$42 per barrel (comfortably above US$30-US$35 per barrel), the government has some flexibility to increase the DE budget towards RM50 billion,” it said.

However, it said, the government is expected to wait for a clearer economic outlook on Malaysia’s domestic demand, given the recent slowdown in both private consumption and investment, before deciding on reinstating some of the cutback in development expenditure.

It said as there is no urgent need for a higher allocation for development expenditure, if the Malaysian economy continues on its current steady pace, the expected improvement in oil revenue may be necessary to accommodate the slightly higher OPEX.

“For 2016, with allocation in emolument and pension charges, in tandem with salary increases for civil servants, we believe OPEX will be slightly higher than the allocation in the revised Budget, in a similar trend to 2015,” it said.

Overall, the investment bank said the government will stay on its fiscal consolidation path, barring any significant downturn in the global economy. — Bernama

- See more at: http://m.themalaymailonline.com/money/article/malaysias-fiscal-deficit-to-improve-to-3.1pc-of-gdp-this-year-says-affin-hw#sthash.eBVC5f3R.dpuf

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Re: TIME TO INVEST IN BURSA ??
« Reply #22 on: July 23, 2016, 02:05:00 PM »



财经  2016年07月22日
次季业绩料无惊喜 交易所仍可派高息

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(吉隆坡22日讯)由于2016年第2季的股票和衍生品成交量可能面对一跌一升的局面,分析员认为大马交易所(BURSA,1818,主板金融股)今年次季业绩料无惊喜,但仍有能力派发较高的股息。

大马交易所即將在下周一(25日)公佈2016財政年第2季(截至6月30日止)业绩。马银行投行分析员对此表示,他不认为该公司的净利会有惊喜。其2016年第2季净利料基本持平,按年和按季各起2%和1.1%,至5000万令吉。

同时,该分析员说,2016年第2季的股票日均成交值(ADV)预计按年和按季各跌0.3%和3.5%,至20亿令吉,而预估转手率则是30%,基本上没有太大变化。

分析员亦说,第2季的衍生產品的交易量比较强劲,有388万宗,按年和按季分別上涨21.7%和11.8%。这主要是由原棕油期货所支撑,占总成交量的82%。


「第2季的股票和衍生品成交量,料使大马交易所上半年的股票日均成交值按年滑落2.6%,及衍生品成交量按年上升9%,至735万宗。股票和衍生品分別占2015財政年营业额的48%和18%。」

此外,该分析员预计,大马交易所2016年上半年的净利是1亿令吉,占他全年净利预测的48%。

「我们的净利预测,已经计算了21亿令吉的股票日均成交值,和衍生品成交量的15%涨幅。我们暂时维持大马交易所的净利预测。」

另外,分析员称,大马交易所可能在公佈2016年上半年业绩时,宣佈派发中期股息每股17仙。全年来说,大马交易所或派每股36.5仙股息,周息率是4.1%。

「截至3月31日,该公司持有的现金是3亿3800万令吉,相等於每股63仙。若扣除2015財政年终期股息每股18仙,其剩余现金仍高达2亿4200万令吉,也就是每股45仙。」

他强调,大马交易所有能力派发更多股息,並且曾在2013和2014財政年派发特別股息每股20仙。

马银行投行维持大马交易所「守住」评级和9.05令吉目標价。大马交易所今天收报8.89令吉,全天无起落,成交量是139万3600股。

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Re: TIME TO INVEST IN BURSA ??
« Reply #23 on: July 25, 2016, 10:03:46 AM »



Business as usual for Najib amid 1MDB allegations
Monday July 25, 2016
08:57 AM GMT+8

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Senior officials in Malaysia have closed ranks around Najib. He has denied all wrongdoing. — Picture by Yusof Mat Isa
Senior officials in Malaysia have closed ranks around Najib. He has denied all wrongdoing. — Picture by Yusof Mat Isa
KUALA LUMPUR, July 25 — The day US prosecutors alleged massive fraud at a Malaysian state fund, it was business as usual thousands of miles away for Prime Minister Datuk Seri Najib Razak. Attending an evening feast for thousands of civil servants, he shook hands and posed for selfies.

The next day he showed up at the exhibition of a new sedan by the country’s top carmaker and held a national development-planning meeting. He only briefly addressed the US news, saying the Department of Justice action should be allowed to run its course.

The message was clear: The premier is focused on matters at home, especially the economy, as he seeks to preserve support among his ruling party’s base of ethnic Malays, many of them in rural areas. One of his pit stops on Thursday was a speech to employees of a government agency that is tasked with helping thousands of smallholder farmers.

Having already weathered a year of scandals over multi million dollar political donations, it would take a major development domestically to put the premier at risk of losing his job in the near term. That’s even as the US civil suits seek to seize more than US$1 billion (RM4.09 billion) in assets that prosecutors allege was siphoned from troubled state fund 1Malaysia Development Bhd, whose advisory board Najib chaired until recently. Najib has denied any wrongdoing.

‘Fairly secure’

“The market is quite clear that Najib is fairly secure at this stage and there isn’t too much of a political challenge to him,” said Vaninder Singh, a Singapore-based economist at Royal Bank of Scotland Plc. “As a consequence, what we’ve seen is that the impact from any 1MDB-related news stories on financial markets has come off significantly over the last few months.”

US investigators laid out their case on Wednesday that more than US$3.5 billion exited 1MDB fraudulently and was spent on paintings, luxury real estate and a Hollywood blockbuster, and at least US$700 million flowed into accounts controlled by a top Malaysian official whose description fits Najib.

The premier has previously acknowledged a similar amount went into his accounts before the 2013 general election. He’s said the money was a private donation from the Saudi royal family and most of it was later returned. Among those identified in the US suit was Najib’s stepson Riza Aziz and his associates. The US did not name any individuals as defendants.

There’s no immediate indication of whether the US is readying criminal charges against Malaysian officials, and the chances of Najib being indicted at home appear low. Domestic investigations into 1MDB and into Najib’s actions have largely wrapped up. The attorney general concluded earlier this year that Najib did not engage in any graft.

As markets wobbled last year on the revelations of the money that reached Najib’s accounts — foreign funds sold a net RM30.6 billion of Malaysia stocks and bonds in 2015 and the ringgit fell 19 per cent — the premier moved swiftly to shore up support.

He fired detractors including his deputy prime minister, and curbed dissent within Umno. An opposition in disarray, marked by periods of public infighting, has helped him.

No evidence

In the aftermath of the US move, senior officials in Malaysia were quick to close ranks around Najib. History has shown the US can act too hastily and then be proven incorrect, one minister said, adding no 1MDB money is missing or stolen. There’s no evidence from any probe anywhere that funds were misappropriated, the attorney general said, expressing “strong concerns at the insinuations and allegations” against Najib.

Other officials said the US suit is part of a wider plot by Najib’s detractors to topple a democratically-elected government, with one warning foreign meddling may lead Malaysia to become like Syria or Iraq.

“What we don’t know yet is whether there is anyone left in Malaysia to convince one way or another,” said Gregory Poling, a South-east Asia specialist at the Centre for Strategic and International Studies in Washington. “The opposition and its supporters were already certain that Najib had a hand in money laundering from 1MDB. Within Umno, Najib has forced out all those who thought the same, so all that is left are loyalists who are either convinced that he is innocent or don’t care one way or another.”

Investors meanwhile are focused on the need for stability. The currency has see-sawed this year amid an uncertain economic outlook, turning Asia’s best performance in the first three months of 2016 to one of the region’s worst since then.

The economy is projected to expand at the slowest pace in seven years amid falling oil revenue and weaker exports. After adding liquidity into the financial system earlier this year, policy makers lowered the key interest rate this month as a pre-emptive move to prevent a deeper slowdown.

There is residual public anger over a goods and services tax implemented more than a year ago, and spending constraints could leave Najib with less room to increase cash handouts that are currently given to seven million Malaysians, or one in every 4 citizens. The premier delved into the populist playbook last year for a budget sprinkled with handouts and subsidies, but lower crude prices have curbed revenue.

Still, foreign investment is holding up and rose 28 per cent in the first quarter from a year earlier, led by the services sector.

Next election

For Najib, economic stability is crucial as he seeks the votes of rural and semi-urban areas in the next election due by 2018. At stake for Umno is the unbroken rule of its Barisan Nasional coalition since independence in 1957. He’s had recent wins in local polls in Malaysia’s biggest state of Sarawak on Borneo island and two federal by-elections.

“1MDB seems not to be the top issue for rural voters and they eye more on economic and social welfare, which could be tackled by targeted fiscal measures,” said Vincent Tsui, a Hong Kong-based economist at AllianceBernstein LP which oversees about US$490 billion.

While the 1MDB drama has raised doubts about governance and accountability in Malaysia, the structure of domestic politics likely protects Najib. His mentor-turned-nemesis Tun Dr Mahathir Mohamad, who was premier for over two decades, has repeatedly said Umno will lose the next election if Najib is leader.

The Coalition for Clean and Fair Elections, or Bersih, is considering another anti-Najib rally similar to one that brought out an estimated 300,000 people last August. The premier’s supporters say they’ll respond with their own march to show their allegiance.

As long as Najib retains the backing of Umno’s powerful division heads — the bulk of whom have stood by him in the past year — fresh protests will carry little weight. The views of those chiefs will become increasingly important closer to an election, depending on whether they feel Najib can carry the party to another win. Some economists have said Najib may consider an early election for 2017, to take advantage of the opposition infighting.

Having early elections could “completely put to bed” any political risk premium for Malaysia, said Singh from RBS.

“The political risk premium on Malaysian assets has come down quite a bit already,” Singh said. “If there’s another election and there’s a strong showing by Umno, whatever’s left will also go away.” — Bloomberg

- See more at: http://www.themalaymailonline.com/malaysia/article/business-as-usual-for-najib-amid-1mdb-allegations#sthash.TfArnGYd.dpuf

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Re: TIME TO INVEST IN BURSA ??
« Reply #24 on: July 25, 2016, 11:45:28 AM »



Cash on hand, the ultimate buffer
By Billy Toh / The Edge Financial Daily   | July 25, 2016 : 10:41 AM MYT   
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This article first appeared in The Edge Financial Daily, on July 25, 2016.

 

KUALA LUMPUR: The slowdown in the property sector has prolonged for over a year. Most analysts opine that the weak consumer sentiment and banks’ stringent lending policy will continue to pose earnings risk to property developers.

Even after Bank Negara Malaysia’s recent cut in the overnight policy rate by 25 basis points, analysts are not convinced that the move will be enough to revive much of the property market.

The question of how resilient property companies are still lingering among the investing fraternity.

“We think it is important for property companies to have a strong balance sheet, cash and flexibility to weather the downturn of the market,” said TA Securities’ analyst Thiam Chiann Wen.

Indeed, cash is king in times of uncertainties. A sizable cash pile would be a good buffer against the fall in sale revenues.

A random check on 32 property companies with a market capitalisation between RM300 million to RM2 billion, only six companies’ cash ratio is higher than one.

The six are SHL Consolidated Bhd, Plentitude Bhd, TAHPS Group Bhd, Land & General Bhd (L&G), Amcorp Properties Bhd and Daiman Development Bhd. Tambun Indah Land Bhd’s cash ratio is at 0.99 based on the latest balance sheet. (see chart)

Cash ratio is a gauge of companies’ ability to cover their short-term liabilities.

L&G is among the few companies that has a cash ratio of higher than one, at 2.22 times, indicating more than sufficient cash on hand to pay off short-term debt.

L&G is on a net cash position of RM288.5 million, which is 67.4% of its current market capitalisation of RM427.9 million.

The company’s cash pile had grown significantly to RM525.9 million as of March 31, 2016 from RM398.3 million a year ago. In fact, the cash pile has more than doubled from RM183.8 million two years ago.

On the other side of its balance sheet, L&G’s borrowing was at RM83.1 million as at March 31.

As for companies’ prospects, L&G had, at the beginning of this year, planned to launch three developments with an estimated total gross development value (GDV) of RM1.67 billion. The launches are the Astoria serviced apartments in Ampang, phase 2 of the Damansara Foresta service apartments in Bandar Seri Damansara and the first phase of landed development, Taman Sena in Seremban.

The group’s net profit for fourth quarter financial year ended March 31, 2016 (4QFY16) was close to eight times higher at RM55 million from RM7.1 million in 4QFY15. The company has been profitable in the last ten years.

Like other property stocks, L&G’s share price has tumbled from its five-year high of 62.9 sen in August 2014 to a low of 33.5 sen in March this year.

L&G has declared dividend regularly since 2014. On May 30, the board declared a single-tier final dividend of two sen, reflecting a dividend yield of about 5.12% — even higher than some of the Real Estate Investment Trusts (REITs) on Bursa Malaysia.

Meanwhile, SHL Consolidated has the highest cash ratio at 3.25 times among the companies under review. It also has a trailing dividend yield of 7.43%.

SHL Consolidated is rather unique with its build-then-sell (BTS) business model. Because of the BTS model, the company needs to maintain a strong balance sheet. It is mainly on affordable housing — one segment that analysts believe will continue to see demand despite the slowdown.

While it is still early to say if the company will continue with its dividend payout, SHL Consolidated’s cash balance at RM305.9 million is expected to strengthen its financial footing in current slowdown.

The company’s management has managed to reserve more cash while meeting its dividend payout ratio of at least 70% for the past three years, at least.

Nonetheless, the slowdown in the property market led to the decline of 19% in its net profit to RM84.54 million, or 34.92 sen per share, for the financial year ended March 31, 2016 (FY16) from RM104.56 million, 43.19 sen per share, the year before.

Interestingly, SHL Consolidated’s share price is considered rather resilient compared with its peers in the property industry. The stock has been hovering in the band between RM2.80 and RM3.40 since 2015. It was last traded at RM2.97. Year to date, SHL Consolidated has gained by 2.07%

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Re: TIME TO INVEST IN BURSA ??
« Reply #25 on: July 25, 2016, 02:27:42 PM »



n The Edge Singapore this week
Four ways political events can impact the economy
By Manu Bhaskaran / #~   | July 25, 2016 : 2:04 PM MYT   
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SINGAPORE (July 25): To distinguish between political developments that really matter to the economy or financial markets and others that are just noise, we need to understand which dimensions of politics actually impact businesses, and then assess whether the political flashpoints that we know are coming contain enough of these dimensions to cause permanent or far-reaching dislocations.

Typically, the political events that matter have the following characteristics:

1. A change in political leaders or parties that lead to a big ideological shift

A political change will matter if it represents a fundamentally different way of treating markets or private businesses or private property.

2. Wars, invasions and violent disruptions of business activity

Outright military conflict affecting regions that provide key resources such as oil or through which critical transportation routes go or that house vitally important manufacturing or other business activities.

3. Impaired foundational frameworks underpinning political order and economic cooperation

An example is the US invasion of Iraq which upset the political order in the Middle East. Anything that results in the division and weakening of Asean, the lynchpin of regional stability, would also be a substantial negative.

4. General rise in uncertainty hurting confidence

Finally, the series of coincidental but unrelated political stresses in recent months is leading to a general sense of unease. This tends to raise the risk premium, causing businesses to hesitate about investing or hiring workers or undertaking risky research and development initiatives

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Re: TIME TO INVEST IN BURSA ??
« Reply #26 on: July 25, 2016, 03:10:57 PM »



Bursa's 2Q net profit down on year, pays 17 sen dividend
By Chong Jin Hun / theedgemarkets.com   | July 25, 2016 : 2:46 PM MYT   
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KUALA LUMPUR (July 25): Bursa Malaysia Bhd's second quarter net profit fell to RM49.48 million from RM49.49 million a year earlier as equities transaction value declined while derivative trades rose.

In a statement today, exchange regulator and operator Bursa Malaysia said group revenue climbed to RM129.72 million in the second quarter ended June 30, 2016 (2QFY16) from RM127.02 million.

Bursa Malaysia said average daily trading value for on-market equity transactions "moderated to RM1.84 billion in 2QFY16". Derivative market average daily contracts increased 21.7% to 61,611 contracts.

Bursa Malaysia chief executive officer Datuk Seri Tajuddin Atan said the group had contended with a challenging external backdrop.

"Notwithstanding the challenging external environment, to date our market integrity is intact with trading activities taking place in a fair and orderly manner, supported by adequate safeguards.

"The exchange remains cautiously optimistic on its performance for the year, and committed in its efforts to make the Malaysian equity and derivatives markets more attractive and vibrant. On our part, we will continue to intensify our engagements to attract more retail and institutional participation," Tajuddin said.

Bursa Malaysia's 1HFY16 net profit rose to RM99.41 million from RM96.54 million a year earlier. Revenue climbed to RM263.65 million from RM254.11 million.

According to the group, derivative market average daily contracts grew 8.1% to 59,790 contracts during 1HFY16. On-market equity transactions' average daily trading value fell 4.2% to RM1.91 billion.

For 2QFY16, Bursa Malaysia declared a dividend of 17 sen a share. The ex and payment dates fall on Aug 5 and 19 respectively

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Re: TIME TO INVEST IN BURSA ??
« Reply #27 on: July 26, 2016, 08:52:03 AM »



财经  2016年07月25日
景气趋冷打击上市活动 交易所下半年谨慎乐观

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景气趋冷打击上市活动 交易所下半年谨慎乐观
达祖汀阿丹(右)与大马交易所首席財务员诺斯达共同出席业绩匯报会。

(吉隆坡25日讯)受外围因素影响,大马交易所(BURSA,1818,主板金融股)谨慎乐观看待今年下半年的表现,並认为今年马股的首次公开售股(IPO)活动也將受到经济成长放缓的影响,因此预计將影响上市集资数额。

大马交易所首席执行员拿督达祖汀阿丹在业绩匯报会上,向媒体发表上述谈话。他指出,回顾今年上半年,大马交易所的表现好坏参半。他相信今年下半年的市场深具挑战,主要是不確定因素,包括美国联邦储备局升息预期和国际油价动盪,將继续困扰市场表现,並导致市场走势持续动盪。

次季净利持平 派息17仙

大马交易所今天公布的2016財政年次季(截至6月30日止)净利,从去年同期的4949万令吉,持平在4948万令吉;营业额也从去年同期的1亿2702万令吉,按年微扬2.13%,至1亿2972万令吉。


上半年,大马交易所的净利按年上升2.97%,至9941万令吉,前期为9654万令吉;营业额额则按年增长3.75%,至2亿6365万令吉,前期为2亿5411万令吉。

配合业绩宣布,大马交易所宣布派发每股17仙中期股息,较去年同期的每股16.5仙高。

达祖汀阿丹表示,在较高的营运营业额支撑下,大马交易所上半年税后盈利(PATAMI)按年增长近3%,也是自2008年以来,上半年表现最好的一次。

同时,他也指出,国家银行新任总裁拿督莫哈末依布拉欣从原任总裁丹斯里洁蒂手中接棒、棕油价格反弹、摩根史丹利资本国际从6月1日起调降大马在MSCI新兴市场指数的权重,以及英国脱欧等因素接踵而来,是影响大马交易所次季表现的4大因素。

「特別是外资出现大逆转的情况,从首季外资净流入,到次季外资开始大量拋售马股。」

上半年集资大缩水

截至6月30日止,外资净流出马股1亿令吉。外资已经连续2年净流出马股,2014年和2015年分別净流出69亿令吉和197亿令吉。

另一方面,在市场景气趋冷下,达祖汀阿丹预期马股的IPO活动数量料与去年持平。

截至今年6月30日止,共有5家新股在大马交易所上市,与去年持平。但集资规模却大量缩水,今年上半年为75亿令吉,远低于去年同期的110亿令吉,下跌幅度达31.82%。

达祖汀阿丹对此表示,儘管大马交易所已经採取积极的方式,提高马股的IPO活动,包括简化申请流程和提供教育平台等,但碍于目前经济环境艰鉅,因此成效无法立竿见影。

针对大马交易所在上半年的交易活动,证券市场日均成交值(ADV)按年下滑4.2%,至19亿1000万令吉;衍生產品市场日均合约(ADC)则上涨8.1%,至5万9790宗;伊斯兰资本市场「Bursa Suq Al-Sila」(简称BSAS)日均成交值成长33.55%,至170亿令吉。其股本回报率(ROE)持稳定在25%,而成本对收入比率则为47%

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Re: TIME TO INVEST IN BURSA ??
« Reply #28 on: July 26, 2016, 10:22:56 AM »



Malaysian market surprisingly resilient after Brexit
FMT Reporters | July 26, 2016
FT report says PM Najib’s ability to shake off critics depends on strong economy and low unemployment, so the government will push for further rate cuts.
brexit-1

KUALALUMPUR: Markets in developing Asia have proven surprisingly resilient a month after Brexit.
A report in the Financial Times said policymakers had been appropriately cautious over the past few weeks in the face of a series of unexpected political shocks, from Brexit to the Turkish coup attempt to a series of terror attacks in Europe.
However, in Malaysia, the FT report said, the local bond market had shaken off not only global events but also local problems, including the fact that US and Singapore regulators were taking action over fraud claims connected to 1Malaysia Development Berhad, backed by Prime Minister Najib Razak.
So far, it said, the search for yield had trumped political risk.

It said government officials, who had been worried both about the prospects for exports amid downgraded global growth forecasts and domestic demand, should be pleased.
They were pleased with Bank Negara Malaysia’s rate cut earlier this month but want further pre-emptive support to ensure stable growth momentum.
Some of the central bank’s staff think this unnecessary, since the economy looks on track to hit the official growth estimate of 4-4.5 per cent for this year.
Najib’s ability to shake off his critics so far is rooted in a strong economy and in keeping unemployment down, so the government will keep pushing for further rate cuts and this is likely to prevail before the end of the year, the FT report predicted.
In Indonesia, the central bank signalled that further interest rate cuts were possible after it held steady last Thursday, but noted that market rates have been responding to the 100 basis points worth of easing already undertaken this year.
The report said the recent tax amnesty bill had helped improve investor sentiment

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Re: TIME TO INVEST IN BURSA ??
« Reply #29 on: July 26, 2016, 10:37:51 AM »



Brokerage advocates selective stock selection for better returns
By Supriya Surendran / The Edge Financial Daily   | July 26, 2016 : 10:08 AM MYT   
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This article first appeared in The Edge Financial Daily, on July 26, 2016.

 

KUALA LUMPUR: JF Apex Securities Bhd, which is maintaining a neutral view on the market outlook for the second half of the year (2H16), is advocating selective stock selection to have a stock return that outperforms the market amid the current mature bull market.

The brokerage has reduced its year-end FBM KLCI target to 1,730 from 1,770 points following a downgrade on corporate earnings.

“Since our target FBM KLCI offers limited upside to current market index, ie less than 5%, and broader market sentiment still remains cautious due to heightened volatility, we believe bottom-up approach in stock selection shall prevail over the longer term by ignoring market noises and risk-on risk-off trade,” it said.

A bottom-up approach is an investment strategy that focuses on the analysis of individual stocks rather than on the industry in which that company operates or on the economy as a whole.

Releasing its 2H16 Market Outlook & Strategy yesterday, JP Apex advised investors to adopt a combination of defensive and active investment strategies.

They should look at value stocks which are trading at a lower price relative to their book value earnings, and at growth stocks which yield brighter earnings prospects and high yielding, it said.

They should also go for high-yielding stocks with resilient business models — companies with stable earnings coupled with positive operating cash flow which are unfazed by the slowdown in economic growth.

Corporate earnings-wise, JP Apex said it envisages the forecast 2016 (2016F) market earnings per share (EPS) to grow at a meagre 2.1% (revised down from 4.9%) following the disappointing first quarter ended March 31, 2016 earnings posted by the FBM KLCI component stocks.

“For 2017F and 2018F, market EPS is envisaged to grow at respective 6.3% (revised down from 8.0%) and 7.9% based on our forecast,” it said.

The firm expects the foreign selling momentum to taper off moving into 2H16 and possible reversal of foreign fund flows on the back of yield seeking amid prevailing low interest rate atmosphere globally and negative bond yield in developed markets.

“Current foreign shareholdings in local equity market stand at about 22% to 23% nearing the 20% to 21% low during Lehman Crisis in 2009 and trending downwards from the peak of about 25% in mid-2013.

“In addition, ample domestic liquidity with the recent overnight policy rate cut by Bank Negara Malaysia and well-capitalised government-linked investment funds especially in the likes of ValueCap Sdn Bhd could also support the local equity market and mitigate downside risk,” it said.

However, JP Apex cautioned that the FBM KLCI might not be the preferred choice among foreign investors due to its pricey valuations against regional peers.

“The local bourse is now trading at 16.2 times 2016 price-earnings ratio (PER) and 15.1 times 2017 PER, the second- or third-highest PER after the Philippine Stock Exchange Composite Index and the Jakarta Stock Exchange Composite Index.

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Re: TIME TO INVEST IN BURSA ??
« Reply #30 on: July 26, 2016, 10:39:03 AM »



Bursa expects challenging 2H, IPOs to be unexciting
By Gho Chee Yuan / The Edge Financial Daily   | July 26, 2016 : 10:04 AM MYT   
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Tajuddin: There was a discussion about the regulatory arm with the Securities Commission of Malaysia. Photo by Kenny Yap

Tajuddin: There was a discussion about the regulatory arm with the Securities Commission of Malaysia. Photo by Kenny Yap

Tajuddin: There was a discussion about the regulatory arm with the Securities Commission of Malaysia. Photo by Kenny Yap
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This article first appeared in The Edge Financial Daily, on July 26, 2016.

 

KUALA LUMPUR: Bursa Malaysia Bhd, whose net profit came in flat at RM49.5 million in its second quarter ended June 30, 2016 (2QFY16), expects market conditions to remain challenging in the second half of this year.

“The issues that affected market [sentiments] during the first half of the year are expected to remain in the second half of the year,” said its chief executive officer Datuk Tajuddin Atan at Bursa Malaysia’s first half results briefing yesterday.

He said foreign inflows were strong during 1QFY16, but several big events that took place during 2QFY16 have affected investors sentiments.

Among them were the announcement of a new central bank governor, Brexit, and the MSCI’s decision to reduce its weightage on Malaysian blue chips, besides volatile palm oil prices, which have sparked foreign fund outflow.

“Total net foreign outflow for the first half of the year stood at RM100 million,” he added.

Nevertheless, he believes the Top 70 or 100 stocks listed on the exchange still provide good opportunities to investors to park their monies, as they provide an average 3% return.

As for new initial public offerings (IPO), Tajuddin said the stock exchange does not think there will be anything exciting for the remainder of the year, as current market condition has put off many corporates from raising funds from capital markets.

“I am getting my team out [to see] whether we can still work on slightly more [IPOs], but we may not see the results immediately,” he said.

Year to date (YTD), Bursa saw seven new listings. Last year, Bursa attracted 13 companies to list on its Main and ACE Markets, down from 15 in 2014. Total funds raised from new listings, YTD, fell 31.9% to RM7.5 billion from RM11 billion in 1HFY15.

In comparison, the Singapore Exchange (SGX) saw some 12 IPOs and reverse takeovers so far this year, while the Indonesian stock exchange recorded 10 IPOs; the Thai stock exchange achieved nine.

Bursa’s net profit for 2QFY16 came in at RM49.48 million, compared with RM49.49 million in 2QFY15, as equities transaction value slipped, though revenue gained 2.13% to RM129.72 million from RM127.02 million.

For the cumulative six months (1HFY16), its net profit improved 3% to RM99.41 million from RM96.54 million in 1HFY15, as revenue rose 3.8% to RM263.65 million from RM254.11 million.

It declared an interim dividend of 17 sen per share, payable on Aug 19.

On whether Bursa Malaysia will follow in SGX’s footsteps in transferring its regulatory unit to a new subsidiary, Tajuddin is keeping the option open, as he noted Bursa is looking for an appropriate model that it suits most.

“There was a discussion about the regulatory arm with the Securities Commission of Malaysia (SC),” Tajuddin admitted, but said the talks was aimed at enhancing its corporate governance, and that nothing was concluded.

Further, he said the SC had made it mandatory for Bursa’s board to have four public interest directors to oversee and safeguard public’s interest.

“All our board members, except myself, are independent directors,” he said, noting this differentiated Bursa from other bourses.

The Edge Financial Daily reported yesterday Bursa may follow in the footsteps of SGX in transferring its regulatory unit into a new subsidiary to separate its regulatory function from its commercial activities. The SC was reportedly in favour of the move.

Meanwhile, Bursa said in a statement it was investigating the cause of disruption to the accessibility of its website after a day-long “slowness and intermitted access” yesterday.

“An investigation is in progress to assess the cause of the disruption to access to the website. We regret any inconvenience caused,” it added

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Re: TIME TO INVEST IN BURSA ??
« Reply #31 on: July 26, 2016, 11:26:32 AM »



Bursa shares falls 1.8% despite CIMB Research raising target price
By Gho Chee Yuan / theedgemarkets.com   | July 26, 2016 : 11:02 AM MYT   
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KUALA LUMPUR (July 26):Shares in Bursa Malaysia Bhd fell 1.8% at mid-morning today, despite CIMB IB Research raising its target price for the stock to RM8.86 (from RM8.44) and saying that it expects Bursa Malaysia to record stronger earnings in second half of the current financial year ended Dec 31, 2016 (FY16).

At 10.16 a.m., shares in the stock exchange regulator fell five sen or 0.56% at RM8.84. It had earlier slipped 16 sen or 1.8% to a low of RM8.73, shortly after opening bell.

Trading volume was 199,700 shares, making it one of the top losers across the exchange. It had a market value of RM4.76 billion.

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In a note to clients today, CIMB Research said it expects Bursa to post stronger earnings in 2HFY16 on anticipation of a more vibrant equity market, with the theme of government pump priming.

Although the firm is bullish on Bursa's outlook, it kept its "Hold" call unchanged, given the stock's high valuation of 20.6 times of financial year 2017 (FY17) price to earnings ratio (P/E) and 5.7 times of FY17 price to book value (P/BV).

CIMB Research also retained Bursa Malaysia's FY16 to FY18 earnings per share (EPS) forecasts at 40 sen, 43 sen and 46 sen respectively.

It, however, narrowed the discount to 5-year average P/E of 21.4 times, from 10% to 5%, to arrive at target FY17 P/E of 20 times, given better equity market outlook.

"This leads to a higher target price of RM8.86," it added.

Bursa’s net profit for 2QFY16 came in at RM49.48 million, compared with RM49.49 million in 2QFY15, as equities transaction value slipped, though revenue gained 2.13% to RM129.72 million, from RM127.02 million.

For the cumulative six months (1HFY16), its net profit improved 3% to RM99.41 million, from RM96.54 million in 1HFY15, as revenue rose 3.8% to RM263.65 million, from RM254.11 million.

It declared an interim dividend of 17 sen per share, payable on Aug 19

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Re: TIME TO INVEST IN BURSA ??
« Reply #32 on: July 26, 2016, 11:43:34 AM »
Veri near to time!  :clap: :cash:
Disclaimer: Every "I EAT" thread created were totally owned by Oly Shyte based on personal observation. It does not represent any stock promotion, buy, hold or sell call and most importantly gathering followers. Please make your own decision wisely! - OLY Securities Research

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Re: TIME TO INVEST IN BURSA ??
« Reply #33 on: July 28, 2016, 11:31:23 AM »



 0 0 0 New
Brexit and China slowdown to impact Malaysian economy
FMT Reporters | July 28, 2016
The Japan Center for Economic Research says, with the GST and a large household debt load, a quick consumption recovery is unlikely.
Kuala lumpur

TOKYO: Malaysia looks likely to feel the biggest effects from Brexit and China’s economic slowdown in the region, with its real GDP growth rate falling to 4.1 per cent.
This is the view of the Japan Center for Economic Research (JCER).
It says the UK’s decision to leave the European Union has cast uncertainty over Malaysian and other key Asian economies.
Though the Brexit vote has had little immediate impact on these countries’ stock prices and exchange rates, the decision is expected to depress growth through trade and the financial markets as the withdrawal approaches, according to a report in the Nikkei Asian Review.
The JCER on Wednesday published its fourth short-term outlook for five Asian markets: China, Indonesia, Thailand, Malaysia and the Philippines.
The JCER report says China’s economy is expected to continue decelerating, following the slowdown in 2015, and this will impact Malaysia and other Southeast Asian nations.

Malaysia, says the report, is in for a pinch as the 4.1 per cent annual growth projected for 2016 and 2017 is down from a relatively high 5 per cent last year. The projected rate would be the lowest since 2009, when the global crisis sent the figure plunging to minus 1.5 per cent.
Malaysia heavily depends on exports, which account for about 70 per cent of its GDP. The ratio of exports to the UK and other EU countries as a percentage of GDP is just below 7 per cent — the highest among the four major ASEAN countries surveyed, says the JCER report.
Out of the four, Malaysia also has the most credit from British banks and makes the most direct investment in the UK. This is why it is the most exposed to Brexit.
Malaysia also depends heavily on exports to China, whose 2017 growth rate is projected to slow to 6 per cent.
The JCER found that since the introduction of the goods and services tax in April 2015, Malaysia’s consumption has turned sluggish. The large household debt load means a quick consumption recovery is unlikely. Budget austerity will also weigh on investment, it adds.
However, delayed US rate hikes and the rise in crude oil prices will help to stem the ringgit’s depreciation — making a generally positive impact on Malaysia’s fiscal balance and corporate earnings.
But, it warned, if the ringgit were to rapidly strengthen against the dollar, it would hamper already slowing exports.
The JCER report added: “Political risk must also be taken into account. Prime Minister Najib Razak remains shrouded in suspicion over a graft scandal dogging state-owned investment company 1MDB.”

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Re: TIME TO INVEST IN BURSA ??
« Reply #34 on: July 28, 2016, 12:01:13 PM »



1MDB scandal may see us a credit rating and outlook downgrade
 1mdb doj
 0 comments      Dzulkefly Ahmad     Published Today 11:19 am     Updated Today 11:35 am

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COMMENT With the spectre of all the events that have unfolded very recently, are we about to witness a very troubled nation going into a tailspin? God forbid. But let us face the facts and arguably the imminent outcomes.

Malaysian democracy has indeed been in dire straits for a prolonged while and the systemic failure, if not seriously mitigated, could very well result in a downgrading of Malaysia's sovereign rating and credit outlook.

Firstly, when the attorney-general of Malaysia was visibly clueless, and rebutted the civil suit filed by the attorney-general of the United State of America as "insinuations and allegations", Malaysia's most critical institution is regrettably perceived as dysfunctional



Read more: https://www.malaysiakini.com/news/350199#ixzz4Ffj3ChHJ

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Re: TIME TO INVEST IN BURSA ??
« Reply #35 on: July 29, 2016, 01:34:18 PM »



 76 9 3 88
Malaysia seems to be sinking fast
July 29, 2016
The 1MDB saga and other issues paint a picture of a nation that is in deep trouble, without a solution in sight.
COMMENT
Dzulkefly Ahmad

by Dzulkefly Ahmad
Now that events have unfolded to give us a better understanding of the scandal associated with 1Malaysia Development Berhad (1MDB), we may ask a pertinent question: is our troubled nation going into a tail-spin? God forbid.
But let us face the facts and consider the possible outcomes.
US prosecutors alleged last week that more than USD3.5 billion (RM14.6 billion) had been siphoned from 1MDB. They said the money, which was meant to benefit the Malaysian people, was diverted towards the purchase of real estate and artwork and to pay casino bills.
It is most damning to the Malaysian government that the US lawsuits represent an attempt to make the biggest ever forfeiture of assets that had gone through that country’s financial system. Consider how big a shame it is to Malaysia that it is the US Department of Justice, not our Attorney-General’s Chambers, that is assuming the role of plaintiff, seeking to forfeit assets amounting to USD1 billion (RM4 billion).
And when our AG, Apandi Ali, described the US allegations as “insinuations”, one of Malaysia’s most critical institutions became regrettably perceived as being on the brink of disaster. Apandi should have been ashamed to hear his US counterpart, Loretta Lynch, asserting that the ultimate goal of the civil suits was to return the money to the people of Malaysia.

The revelations in the US have given us enough reason to suspect that something was amiss in the Malaysian Anti-Corruption Commission’s decision to absolve 1MDB of any wrongdoing.
The police, meanwhile, are preoccupied with apprehending those who express legitimate dissent on the issue, using draconian laws such as the Sedition Act and the Prevention of Terrorism Act. There’s little doubt that the National Security Council Act will also be used to suppress dissent when it comes into effect. Malaysia is virtually becoming a police state.
In addition, numerous attempts to get the Speaker of Parliament to allow debate on the issue have come to naught, strengthening the impression that the legislative branch of government is nothing more than a rubber stamp for the executive branch.
And there’s more bad news. According to an exposé by Sarawak Report, the cost of the East Coast Rail Project has been inflated from RM30 billion to RM60 billion in an alleged secret deal with China. The purpose of the deal, it further alleged, was to enable the payment of 1MDB’s debts.
The rotting of Malaysia has been going on for some time, and it looks like we have reached a critical stage. We may be witnessing the final phase of a state’s failure.
The fact is that Malaysian democracy has been in dire straits for a long time and our systemic failures, if not seriously addressed, could well result in a downgrading of Malaysia’s sovereign rating and credit outlook.
A downgrade by rating agencies will be all it takes to trigger an implosion of the economy. The trouble is that no viable solution is in sight.
Dr Dzulkefly Ahmad is the Strategy Director of Parti Amanah Negara

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Re: TIME TO INVEST IN BURSA ??
« Reply #36 on: July 29, 2016, 05:42:15 PM »



2016-07-29 17:01
惠誉降债评.经济学家:大马应未雨绸缪
国际信贷评估机构惠誉(Fitch)调低马币单位主权债券,及国家石油和几家保险公司债券评级。
(吉隆坡29日讯)国际信贷评估机构惠誉(Fitch)调低马币单位主权债券,及国家石油和几家保险公司债券评级,经济学家认为,虽然这些调整与大马经济及相关公司的基本因素无关,不过,有关当局也有必要提高警惕,谨慎检视改善任何潜在漏洞与弱点。

广告

评估制度标准更严格

经济学家表示,上述调整主要是惠誉本身更严格地调整其评估制度标准所致,大马经济及相关公司的基本因素没有太大关系,大马经济和国油在过去一年或半年基本因素,并没有出现显著变化。

惠誉将大马政府长期马币债券评级,从“A”

降至“A-”等级,以及其他评级受到降级公司,包括国油、马来亚银行(MAYBANK,1155,主板金融组)旗下两家伊斯兰保险公司、大马再保险公司MNRB控股(MNRB,6459,主板金融组)的评级被降低一级。

丰隆研究主管兼经济学家徐克宇对《星洲财经》指出,惠誉上周下调大马政府长期本地债券评级,这主要是惠誉更改评估制度的标准,使23个国家包括大马的马币债券评级受到影响与调整。

广告

大马基本因素变化不大

徐克宇指出,其实,大马的宏观经济基本因素,与过去一年或半年的情况没有变差、或出现太大改变。随着惠誉更改其评级制度标准,除了大马政府债券外,政府相关公司的债券评级也相应地作出调整。

目前市场或投资者所关注的焦点,主要是其他国际评估机构的反应与行动,若是它们追随惠誉步伐下调评级,预料在某个程度上,市场还是会作出负面反应。

穆迪投资者服务(Moody)较早也下调了大马机场(AIRPORT,5014,主板贸服组)的信贷评级。



1MDB为目前主要焦点

一名不愿具名的经济学家指出,目前市场主要焦点是放在一马发展公司(1MDB)的进一步发展,市场担心这项政治因素,是否会最终影响到大马宏观经济政策的改变。

MIDF研究将马币兑美元汇率年杪预测维持在3.95水平,因为除了信贷债券评级之外,尚有其他因素在决定马币未来走势里,扮演更吃重的角色。

经济学家指出,惠誉假设大马财务恶化,其中原因包括假设2016年的布兰特原油价格定在每桶33美元的低水平。惠誉评级非常强调原油价格走低因素,惟经济学家认为,其实,目前大马政府财政已较少依赖石油及相关收入。

根据最新数据,大马联邦政府的总收入,来自油气领域仅占了11.9%至12.6%之间。大马政府在估计油价方面也非常务实,即原油价格预测定在每桶30美元至35美元之间低水平。

经济学家指出,逻辑上来说,信贷评级调整通常对外汇产生重大影响,因为它将让有关国家的资金流动出现变动。

“调低信贷评级,将意味着债券回酬率走高,从而影响资金流量,特别是投资者及投资机构重新平衡他们的投资组合。”

文章来源:
星洲日报/财经‧报道:李文龙‧2016.07.29

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Re: TIME TO INVEST IN BURSA ??
« Reply #37 on: July 29, 2016, 09:32:17 PM »



英国脱欧震荡亚洲
大马冲击或最大
4点看 2016年7月29日

(吉隆坡29日讯)日本经济研究中心最新预测显示,英国脱欧决定,引起了亚洲主要经济体的不确定性,其中对大马的冲击将最大。


《日经亚洲评论》报道,加上中国经济放缓,该中心预见大马感受到的冲击最大,实际国内生产总值将跌至4.1%。

日本经济研究中心昨日发表了5个亚洲市场,即中国、印尼、泰国、大马和菲律宾的短期前景报告。

报告指,大马今明年经济增长仅达4.1%,不但较去年的5%低,还是2009年以来最缓慢的增长率。

该中心解释,大马严重依赖出口,占了国内生产总值70%。尽管出口到英国和欧盟其他国家虽然低于7%,仍是东盟4国中最大。

加上大马大部分贷款来自英国银行,也是英国最大的外资直接投资来源之一,所以将受英国脱欧冲击最大。

泰国黯淡 印菲强劲

日本经济研究中心表示,尽管英国脱欧公投结果对这些国家的股汇市影响不大,但随着脱欧的时间逼近,贸易和金融市场将受冲击,进而压抑增长。

同时,今年中国的经济将继续放缓,将从去年的6.9%下跌0.4%,至6.5%,受累的上述东盟4国今年经济增长料与去年持平,平均为4.6%。

日本经究中心预计,除了大马,今年泰国经济持续黯淡,印尼和菲律宾经济则增长强劲。

因此,该中心预测,亚洲国家将加大宽松政策,包括降息。

RAM:欧盟放缓影响大

大马评估机构(RAM)认为,英国脱欧不会直接影响我国,不过,英国脱欧后造成欧盟增长放缓,就可能会冲击我国。

大马评估机构指,英国脱欧后产生的蔓延性风险,对我国出口和直接投资的影响有限。

不过,欧盟经济增长因而减速,就会潜在影响我国的经济趋势。

该机构表示,英国仅占我国2015年出口的1.2%,而欧盟却占了8.9%。

2011至2015年间,英国和欧盟占我国的对外直接投资比重,各别为3.8%和8%。

而欧洲一直是我国的主要外来直接投资来源,反观。英国在几年前就逐步减少投资。

大马评估机构表示,从财政的角度来看,英国脱欧并不会对大马“gA2”的全球主权评级,以及“seaAAA”的东盟主权评级带来影响。

尽管欧洲金融动荡,但因外币债务的比例偏低,仅占政府债务的3.1%,因而不会对大马政府的财政状况造成显著的冲击。

不过,大马评估机构将会持续监督欧盟增长减速带来的下滑风险,以及对大马宏观经济表现的影响。


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Re: TIME TO INVEST IN BURSA ??
« Reply #38 on: July 30, 2016, 08:32:25 AM »



国内外因素纠缠
股市今年动荡难安
201点看 2016年7月29日
报道:姚思敏

(吉隆坡29日讯)富时隆综指7月份落后亚洲股市,分析员认为,综指将持续受到国内外因素纠缠,到年底为止估计仍无法摆脱动荡的格局。


总结7月亚洲股市,在英国公投决定脱欧之后,全球股市从初期的惊慌挫跌,逐步恢复稳定并收复失地。

由于市场认为,因为英国脱欧而出现的全球股灾,只属反应过度,因此,吸引资金纷纷投入风险较高而回酬也不俗的亚洲股市。

因此,亚洲主要股市在7月普遍走高,其中,日经指数上涨6.38%,达1万6569.27点;而曼谷综合指数和香港恒生指数,则分别攀升5.47%和5.28%。

然而,眼看亚洲股市逐一反弹之际,马股是唯一下跌的股市,在过去1个月下跌0.05%,并在7月的最后一个交易日以1653.26点挂收。

Fundsupermart.com高级分析员李天翔向《南洋财经》表示,这主要是因为国内政治因素升温,加上一个马来西亚发展有限公司(1MDB)事件持续发酵,所以相比其他国家,马股难以吸引外资大肆流入。

此外他说,大马交易所的大型股也下跌,主要是受到金融和电信领域的拖累,因为投资者不看好未来净利展望。

“我认为,大型股未来净利展望欠佳,潜在投资回酬将低于其他亚洲股市。”

中小型股更诱人

相反的,李天翔认为中小型股比大型股更具吸引力,基金经理被这些股视为被埋没的宝石。

整体而言,他认为,综指到今年结束为止,估计持续陷入动荡格局。

“除了今年初出现的中国市场动荡,以及英国脱欧之外,接下来美国总统大选亦将左右马股,假设出现不受欢迎的成绩,将拖累马股。”

料1650-1670点横摆

资深抽佣经纪陈玉麟则表示,综指一般上会在8月和9月显得淡静,加上预计企业交不出亮眼的业绩,所以相信会陷入横摆走势。

“在缺乏新的推动力,我预计综指会在1650至1670点之间横摆。”

他指,马股面对的风险升温,包括全球经济放缓、国行降息意味我国经济将走低、企业业绩不理想等。

陈玉麟说,1MDB风波已经抵消了国家银行7年来首次降息25个基点的激励,而且影响外资对大马市场的投资情绪,这是综指面对最大阻碍。

不过,他相信美国总统大选在11月8日举行之前,美国股市将升多跌少,所以也有助于扶持综指。

留意建筑基建股

在应对动荡的市场格局,李天翔建议,投资者可采取缓冲策略(Buffer Strategy)。

他举例,把部分钱投资在回酬和风险较高的大型股,并把部分资金放在比较安全的资产,例如债市、定期存款等。

此外,他也建议投资者分散投资的时机,不要一次过把钱投入股市。

他说,假设投资者有1万令吉,可分批在马股不同的下跌时期,投入部分资金,以免一次过损失手上所有的资金。

至于可投资的领域,他认为,可留意建筑和基建股,因为政府颁发大型基建工程,包括轻快铁第三路线(LRT3)、捷运第二路线(MRT2)、隆新高铁(HSR),可支撑盈利表现。

本周,政府陆续颁发砂拉越州泛婆罗洲大道(Pan-Borneo highway)第一期工程,赢家包括金务大(GAMUDA,5398,主板建筑股)、WCT控股(WCT,9679,主板建筑股)、纳音控股(NAIM,5073 ,主板产业股)等。

陈玉麟则说,由于缺乏新的催化剂,所以投资者更需要多下苦工,投资在赚钱的公司。

“由于令吉兑美元疲弱,所以我看好出口股,因为比其他领域拥有更大的优势。”


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Online king

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Re: TIME TO INVEST IN BURSA ??
« Reply #39 on: August 03, 2016, 03:45:08 PM »



2016-08-03 14:52
大马全年经济增长目标下修
7月日经大马制造业采购经理指数(PMI)稍见好转,经济学家普遍预期未来制造业可能缓步复苏,但碍于消费者情绪依旧低迷,以及外围环境持续严峻,相信领域短期强劲复苏可能性不高,并纷纷下修全年经济增长目标。
广告

广告

 
(吉隆坡3日讯)7月日经大马制造业采购经理指数(PMI)稍见好转,经济学家普遍预期未来制造业可能缓步复苏,但碍于消费者情绪依旧低迷,以及外围环境持续严峻,相信领域短期强劲复苏可能性不高,并纷纷下修全年经济增长目标。

虽然日经大马制造业PMI指数连续16个月处于负面疆域,但肯纳格研究认为,7月指数已升至48.1的4个月高位,开始显现出制造业营运环境改善的迹象,预期未来领域可能缓步复苏。

文章来源:
星洲网‧2016.08.03

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Re: TIME TO INVEST IN BURSA ??
« Reply #40 on: August 09, 2016, 07:19:50 AM »




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Foreign buying on Bursa Malaysia rises
Posted on 9 August 2016 - 05:38am
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PETALING JAYA: The momentum for foreign tide-in to Bursa Malaysia ticked up last week, in contrast to the receding tide to Asia amid saturating risk appetite, said MIDF Research.

“The net amount purchased by foreign investors edged up further to RM301.8 million from RM105.5 million the week prior. The estimates are based on transactions in the open market which excluded off market deals,” it said in its fund flow report yesterday.

Foreign net inflow, though appeared marginal in general, has been extended to the fifth successive week.

MIDF Research said foreign investors showed preference for Malaysia by actively loading up RM160.8 million on Bursa last Monday.

The buying momentum reversed on Tuesday with a net selling of RM22.3 million and selling pressure continued to pile up on Wednesday as foreigners on net sold another RM56.7 million.

“However, the selling momentum appeared transient as foreign investors turned net buyers again on Thursday with a net purchase of RM117.6 million. The buying pace persisted into Friday as foreigners increased their holding by another RM102.4 million,” said MIDF Research.

So far this year, the cumulative net foreign inflow into shares listed on Bursa has surpassed the RM1 billion level. As of last Friday, the year-to-date cumulative flow into Bursa increased to an estimated RM1.26 billion from RM959.3 million the week prior.

In retrospect, foreigners had offloaded RM19.5 billion and RM6.9 billion in 2015 and 2014 respectively.

“Meanwhile, foreign participation rate has demonstrated a sign of fatigue. It dropped significantly to RM761.2 million from RM945.6 million the week prior,” it said.

“It was the weakest participation rate thus far this year. The rate has been staying below the RM1 billion level for the eight time in the past nine weeks,” it added.

Local institution remained net sellers for the fifth consecutive week, with the selling pace increasing to RM334.9 million from RM92 million in the preceding week.

Its participation rate surged to RM2.21 billion from RM1.98 billion the week prior, the highest since May 13 this year

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Re: TIME TO INVEST IN BURSA ??
« Reply #41 on: August 09, 2016, 07:30:09 AM »



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Foreign buying on Bursa Malaysia rises
Posted on 9 August 2016 - 05:38am
Print
PETALING JAYA: The momentum for foreign tide-in to Bursa Malaysia ticked up last week, in contrast to the receding tide to Asia amid saturating risk appetite, said MIDF Research.

“The net amount purchased by foreign investors edged up further to RM301.8 million from RM105.5 million the week prior. The estimates are based on transactions in the open market which excluded off market deals,” it said in its fund flow report yesterday.

Foreign net inflow, though appeared marginal in general, has been extended to the fifth successive week.

MIDF Research said foreign investors showed preference for Malaysia by actively loading up RM160.8 million on Bursa last Monday.

The buying momentum reversed on Tuesday with a net selling of RM22.3 million and selling pressure continued to pile up on Wednesday as foreigners on net sold another RM56.7 million.

“However, the selling momentum appeared transient as foreign investors turned net buyers again on Thursday with a net purchase of RM117.6 million. The buying pace persisted into Friday as foreigners increased their holding by another RM102.4 million,” said MIDF Research.

So far this year, the cumulative net foreign inflow into shares listed on Bursa has surpassed the RM1 billion level. As of last Friday, the year-to-date cumulative flow into Bursa increased to an estimated RM1.26 billion from RM959.3 million the week prior.

In retrospect, foreigners had offloaded RM19.5 billion and RM6.9 billion in 2015 and 2014 respectively.

“Meanwhile, foreign participation rate has demonstrated a sign of fatigue. It dropped significantly to RM761.2 million from RM945.6 million the week prior,” it said.

“It was the weakest participation rate thus far this year. The rate has been staying below the RM1 billion level for the eight time in the past nine weeks,” it added.

Local institution remained net sellers for the fifth consecutive week, with the selling pace increasing to RM334.9 million from RM92 million in the preceding week.

Its participation rate surged to RM2.21 billion from RM1.98 billion the week prior, the highest since May 13 this year

BE  GREEEEEEEEEEEEEEEEEDY   :cash: :cash: :cash: :cash: :cash:

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Re: TIME TO INVEST IN BURSA ??
« Reply #42 on: August 14, 2016, 03:11:13 PM »



arkets   
Big funds emerge as net sellers
By Mathenny K
Friday, 12 Aug 2016, 12:30 AM
         

The EPF sold 16.3 million shares in Public Bank from Aug 5 to 11
Some of the biggest funds in the country have emerged as net sellers of Bursa Malaysia stocks last week except for Kumpulan Wang Persaraan (Diperbadankan) or Retirement Fund Inc.

Filings with Bursa Malaysia from Aug 5 to 11 saw the Employees Provident Fund Board (EPF), Lembaga Tabung Haji (LTH) and Amanahraya Trustees Bhd-Amanah Saham Bumiputera (Amanahraya) selling a total 243.52 million shares.

Among the stocks disposed by EPF was Petronas Chemicals Bhd (16.86 million), Public Bank Bhd (16.3 million), CIMB Group Holdings Bhd (15.05 million), YTL Corp Bhd (14.19 million), DRB-Hicom Bhd (13.36 million), Tenaga Nasional Bhd (9.54 million), IOI Corp Bhd (8.99 million), IGB REIT (8.21 million), Malakoff Corp Bhd (7.01 million), UMW Holdings Bhd (5.6 million), Telekom Malaysia Bhd (TM)(4.73 million) and another 59.25 million shares in other companies.

Amanahraya reduced its holdings by 47.07 million shares in 11 counters – Tenaga Nasional (16.82 million), TM (13.56 million), Gamuda Bhd (4.79 million), Fraser & Neave Holdings Bhd (three million), IJM Corp Bhd (2.03 million) and another 6.87 million shares in other companies.


For the full story, please subscribe to Focus Malaysia
- See more at: http://www.focusmalaysia.my/Markets/Big%20funds%20emerge%20as%20net%20sellers#sthash.n8ChigJh.dpuf

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Re: TIME TO INVEST IN BURSA ??
« Reply #43 on: August 14, 2016, 04:17:37 PM »


arkets   
Big funds emerge as net sellers
By Mathenny K
Friday, 12 Aug 2016, 12:30 AM
         

The EPF sold 16.3 million shares in Public Bank from Aug 5 to 11
Some of the biggest funds in the country have emerged as net sellers of Bursa Malaysia stocks last week except for Kumpulan Wang Persaraan (Diperbadankan) or Retirement Fund Inc.

Filings with Bursa Malaysia from Aug 5 to 11 saw the Employees Provident Fund Board (EPF), Lembaga Tabung Haji (LTH) and Amanahraya Trustees Bhd-Amanah Saham Bumiputera (Amanahraya) selling a total 243.52 million shares.

Among the stocks disposed by EPF was Petronas Chemicals Bhd (16.86 million), Public Bank Bhd (16.3 million), CIMB Group Holdings Bhd (15.05 million), YTL Corp Bhd (14.19 million), DRB-Hicom Bhd (13.36 million), Tenaga Nasional Bhd (9.54 million), IOI Corp Bhd (8.99 million), IGB REIT (8.21 million), Malakoff Corp Bhd (7.01 million), UMW Holdings Bhd (5.6 million), Telekom Malaysia Bhd (TM)(4.73 million) and another 59.25 million shares in other companies.

Amanahraya reduced its holdings by 47.07 million shares in 11 counters – Tenaga Nasional (16.82 million), TM (13.56 million), Gamuda Bhd (4.79 million), Fraser & Neave Holdings Bhd (three million), IJM Corp Bhd (2.03 million) and another 6.87 million shares in other companies.


For the full story, please subscribe to Focus Malaysia
- See more at: http://www.focusmalaysia.my/Markets/Big%20funds%20emerge%20as%20net%20sellers#sthash.n8ChigJh.dpuf

EPF practice the same manner during Mar'16 that time when Bursa Index standing around 1700 ~ 1729 between but a lot of people not convinced after Apr'16 came down to 1630 ~ 1650

But...........

I strongly believe this round more worse & depression coming soon within 1 ~ 2 months time


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Re: TIME TO INVEST IN BURSA ??
« Reply #44 on: August 15, 2016, 03:37:29 PM »
drbcomc19, drbcomc21

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Re: TIME TO INVEST IN BURSA ??
« Reply #45 on: August 19, 2016, 07:36:34 AM »



Foreign funds view Bursa Malaysia as 'less attractive' than regional peers
Posted on 19 August 2016 - 05:37am
Lee Weng Khuen
sunbiz@thesundaily.com
Print
KUALA LUMPUR: While Malaysia's bond market is compelling to foreign funds, Affin Hwang Asset Management Bhd chief investment officer David Ng said the attractiveness of the local equity market is lower than that of other regional markets.

Speaking at a media briefing on the global market outlook for the second half of 2016, he said foreign funds could come back in the second half of the year if good growth is demonstrated.

"Other Asean markets have done well, so from the valuation standpoint, Malaysia is a laggard," he said.

Nevertheless, Ng noted Malaysia's relatively good bond yields are drawing fund managers' interest.

"Foreign inflows into Malaysian government bonds have been very strong. Foreign ownership is at an all-time high of 51%," he said.

Returns for 10-year Malaysian government securities, which yield 3.5%, are definitely better than the negative interest rate offered by 40% of developed market government bonds, he added.

Ng said Malaysia needs to figure out ways to draw foreign investments by capitalising on human capital following the pullback of investments within the oil and gas space. "Malaysia needs to look seriously at how to move the economy forward … tourism, education and healthcare could offer some opportunities."

Ng favours Malaysia's dividend yielding stocks such as IGB Real Estate Investment Trust and Fraser & Neave Holdings Bhd (F&N). Besides that, he foresees the infrastructure and construction theme amid sluggish economic environment.

"People are prepared to pay a premium for companies of higher earnings certainty and F&N is of one of those examples," he said, noting that there are a handful of small and mid-cap stocks that pay high dividend yields, such as Classic Scenic Bhd.

While the aggregate corporate earnings for Malaysia may not be fantastic, Ng believes there will still be sectors with good earnings growth. One of his top picks is Tenaga Nasional Bhd, which gives earnings certainty and potentially higher dividend.

He, however, cautioned that the biggest risk that could trigger a reversal in fund flows is the potential US interest rate increase. "If the US raises interest rate, then the stronger US dollar will be negative for the emerging market assets," he said.

On the economic front, Ng is of the view that Malaysia's gross domestic product could sustain 4% growth this year, driven by the acceleration in government spending.

He believes there will be no further reduction in the Overnight Policy Rate following a 25-basis point cut to 3% last month. "Unless there is any negative development globally, I don't see them cutting interest rate another time this year," he said

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Re: TIME TO INVEST IN BURSA ??
« Reply #46 on: August 21, 2016, 08:18:01 PM »



股市的春天不远了?/草根牛马
369点看 2016年8月21日

黄金十年●草根牛马
齐力(PMETAL)在上周二宣布半年业绩,第二季的营业额果然突破新高,涨至15.85亿令吉;半年达28.75亿令吉。三军用命之下,盈利也大为增长至1.46亿令吉(每股11.24仙)。

如果一切顺利,全年营业额有希望站在60亿以上,印证了我前周的预言。


不过,市场对其业绩在预料之中,没有带来惊喜而有点失望,因此股价涨了一点就调整。

我们决定再买入1000股齐力凭单(每股3.07令吉)。

与此同时,我们也继续买入大红花石油(HIBSCUS)2万股(每股20仙);怡丰国际(VIVOCOM)2万股(每股30仙)。

上周综指姿态大勇,一度挑战1700点,正说明了公牛,总在母熊肆虐以后,不知不觉回返。

只是,市场似乎还没有准备好下一轮涨势,因此在挑高了以后,指数调整,徘徊在1690至1700点之间。

就算这样,一些被压已久的股票已经大力反弹,其中包括换了总执行长的土展创投(FGV),在放弃了许多不合逻辑的并购以后,股价脱胎换骨,从1.40令吉的谷底回弹至今,已经是2.30令吉,涨了64%!

油气股似乎回勇

另外,一些被卖压惨重的油气股,似乎也开始回勇,股市的春天,真的不远了吗?

写这篇稿时,正上映着奥运男双羽球决赛,我国和中国选手交手。

我国选手宛若脱胎换骨,给予中国队极大的挑战,甚至两度逼近冠军分数,虽然最后过于紧张,咬不下致胜一分,金牌饮恨,不过其拼搏精神值得全场尊敬。

看了混双和男双的表现,我国男单一哥虽然肩负赢取国家第一枚奥运金牌的使命,不过,这次应该会放松自己,不会因为压力而表现失利,因为国家选手后继有人,自己不再孤军作战了。


怡丰国际脱胎换骨

本周要谈的怡丰国际(VIVOCOM),也是一个脱胎换骨的故事。下回谈的大红花石油,更是另一个脱胎换骨的故事。

怡丰国际,前身是INSTACOM,而在INSTACOM倒置收购之前,是叫做IPOWER。

IPOWER在2005年1月以43仙挂牌上市,股价曾经高涨至1令吉以上。两年以后,在2007年1月,公司进行2送3红股,让股东乐翻了。

可是,公司在2007年尾进行3配3附加股,每附加股送1凭单的建议之后,一场2008年金融海啸让公司沉寂下来。

擅于资本管理

之后的两三年公司业绩大大逊退,亏损连年,最后在2012年要10变1削资重组,同年被INSTACOM倒置收购,IPOWER这个名字由光辉到陨落,正式走入历史。

2012年,INSTACOM正式取代IPOWER,成为上市新贵。由于是倒置收购上市,INSTACOM以本身建筑电信塔的业务,承诺一定的营业额和盈利担保。

公司也擅于资本管理,在2013年建议2送1免费凭单(WB)以讨股东欢心,股价因而一度创上40仙高峰。不过,在盈利担保的期限过了以后,当时公司营业额已经走下坡,从2013年的1.2亿令吉,下滑到2014年的6585万令吉。

因此,INSTACOM建议发新股(每股19仙),收购一家新公司NEATA 铝业(马)有限公司的35%股权以多元化业务,同时又再5送1免费凭单(WC)以奖励虽然没有股息,却对公司不离不弃的股东。

当时股价在16仙,凭单转换价是13仙,摆明是让股东有钱赚。我们也在2015年1月买进它(16仙),之后在1个月内把送的凭单(9仙)和股票(16.5仙)一起卖掉,赚了一些钱。这是我们之前和INSTACOM的渊源。

我们卖得及时(日后回顾,却不见得聪明),因为之后2015年股市波动激烈,INSTACOM的业绩持续疲弱。

公司在2015年3月宣布7配2附加股募资,每附加股送1凭单(WD)的建议;附加股在7月完成,此建议不为股东所喜,因此引发一轮抛售,股价大跌至10仙。(待续)

免责声明:

除了股票基本面,本文内容纯属虚构,所有提及股项纯属学术上或经验上的建议,读者若有兴趣投资,应该自行深入研究或询问股票经纪才决定,盈亏自负。

我们鼓励通过正确的投资方式创造财富,文中的建议,都有一个完整的买卖纪录。


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Re: TIME TO INVEST IN BURSA ??
« Reply #47 on: August 22, 2016, 07:26:56 AM »



现金为王低价出售?/万年船
189点看 2016年8月22日

小股东大权利
在艰难的时期,现金为王是不是不变的金律?短短一个月内,我们见到了两宗贱价出售的买卖,令涉及的小股东很不是味道。

第一单的在7月29日,马包装工业(MAYPAK)的大股东Toyo Seikan (TSCL)以每股16.6仙,脱售马包装工业的54.95%股权 (约2310万股)给日本公司Taisei Lamick (TLC),总值才383.5万令吉。


这对公司净资产55仙,或宣布前股价45仙,是很大的折扣。不但如此,只用不到400万,就控制了一家在大马交易所主要板上市的公司(超过50%股权),不禁引起一连串的揣测。

接下来一单发生在上周四。马制铝(ALCOM)宣布,Towerpack 私人有限公司以每股61仙,或总值4772万令吉,向Novelis Inc 收购马制铝59.16%股权,完成之后,将向其余股东进行全面收购建议。

这个收购价也引起市场哗然,因为马制铝这家老牌公司,净资产有1.24令吉,近来股价也在80仙左右浮动,何以大股东愿意低价出售?

是不是现金为王?当大股东需要大笔钱周转时,手上掌握许多现金的买家闪电出手,猎得心中的猎物。

马制铝手持现金5000万

只不过,马包装工业的383万令吉转手,这么重要的上市工具如此拱手让人,未免让我们觉得前大股东不够大气,除非TLC私底下承担了TSCL借给马包装工业的3370万贷款,那才像话。

不过,详情尚未公布,这纯属猜测,未得证实之前,我们觉得16.6仙的出价太低了,一般财主也出得起这个价钱呢!

至于马制铝的收购,这个Towerpack的股东,原来是冠旺(CANONE)的老板杨锦和。此人来头不小,当年冠旺趁施氏兄弟阋墙时出手拿下建裕珍厂(KIANJOO)的32%,就是他的杰作。

这次是以他私人公司出手,大折价买得马制铝的控制权,可说又是其得意之作。

马制铝基本面可比马包装工业强得多,根据最新公司资料,公司没有贷款,同时手持现金5000万,或等于每股38仙,意味着杨氏的净出价才23仙,这样的买卖挑灯笼也找不到呀!


马制铝基本面可比马包装工业强得多,公司没有贷款,同时手持现金5000万。

本周股东大会焦点:

进入8月股东会议的高峰期,大概有整40家公司,其中包括手套股贺特佳(HARTA)和IJM种植(IJMPLANT)在8月23日召开股东大会;最近股价大领风骚的RCE资本则和IJM、菲马集团(KFIMA)、菲马(FIMACOR)等在8月24日召开会议。

25日的股东大会有全利资源(QL)、马国民再保险(MNRB)和东家(E&O);最后26日是PANAMY、星光资源(SKPRES)和雪兰莪铁船(SDRED)等。连27日(周六)也有公司开会,柔佛的东南物流(TNLOG)和槟城的亚洲文件夹(AFILE)。


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Re: TIME TO INVEST IN BURSA ??
« Reply #48 on: August 27, 2016, 02:32:22 PM »



财经  2016年08月26日
阿都瓦希:3因素左右明年股市

阿都瓦希:3因素左右明年股市
阿都瓦希(左)和哈末卡玛皮雅出席ASW 2020收益分配记者会。(摄影:曾鉦勤)

(吉隆坡26日讯)国民投资公司(PNB)主席丹斯里阿都瓦希冀望,原棕油价格將持续目前上升的趋势,这將对种植业者的业绩表现有利。他指出,种植业者取得不俗的净利,才能派发更多股息予股东,包括国民投资公司。

与此同时,他认为,3大因素,即大宗商品价格、全球经济放缓、以及令吉匯率走势,將左右明年的股市走向。

他是今日出席国民投资公司宣布旗下基金的最新收益分配记者会上,如此表示。一同出席者包括国民投资公司总裁兼首席执行员丹斯里哈末卡玛皮雅。

阿都瓦希认为,明年股市將受到3大因素所影响,即大宗商品价格,尤其是原油价格料长时间维持较低水平,影响投资者情绪和市场走势。其二是全球经济放缓,尤其是中国的经济將影响国家经济状况。第3项因素则是令吉匯率走势,將取决于美联储升息预期、国內和全球经济增长及大宗商品价格走势。


不过,他相信,政府在1月份修订预算案等政策,有望巩固现有的经济状况。

ASW 2020派6.3仙收益分配

此外,阿都瓦希宣布,国民投资公司旗下2020宏愿信託基金(ASW2020),截至8月份的收益分配为每单位6.30仙,较去年的6.40仙,减少0.10仙。

「考虑到股市低迷,以及与其他风险投资项目和大马债券的收益率相比,这仍然是合理的收益分配。」

今年的收益分配將派发总额11亿4600万令吉,將有87万8000个基金持有人受惠,持有181亿9300个单位;並將在9月1日拨入单位持有人的账户內。至于通过僱员公积金局(EPF)投资的人士,这收益分配將存入他们的公积金户口。

询及未来是否有意推出固定价格单位信託基金时,哈末卡玛指出,该机构未有这项计划,现阶段则会专注在目前所提供的產品。

截至8月24日止,该基金的总收入达13亿9400万令吉。而由股票销售所获得的利润为7亿3583万令吉,或占当中的52.8%。从投资公司中所获得的收益为4亿5170万令吉,或佔32.4%;短期贷款利息收益为2亿零684万令吉,或佔14.8%。

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Re: TIME TO INVEST IN BURSA ??
« Reply #49 on: September 04, 2016, 09:57:32 AM »



Edge Weekly
Looking for small caps with growing dividends
By Surin Murugiah  / theedgemarkets.com   | September 3, 2016 : 8:20 AM MYT   
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KUALA LUMPUR (Sept 3): The Edge weekly in its latest edition reported that traditional dividend stocks, such as Bursa Malaysia Bhd, Dutch Lady Milk Industries Bhd and Heineken Malaysia Bhd, have been performing well over the past year.

The magazine’s Alex Chong wrote that their outperformance against the FBM KLCI could be attributed to investors seeking safety in defensive yield stocks in an uncertain market with a mixed corporate earnings outlook.

Moreover, the surprise cut in the overnight policy rate by Bank Negara Malaysia in July would have resulted in lower fixed deposit rates, indirectly increasing the appeal of quality dividend-paying stocks, said the Edge in its cover story.

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It said with Malaysia’s gross domestic product growing a lethargic 4% in 2Q2016, there has been talk of another policy rate cut by year end.

It questioned that against a backdrop of slowing economic growth and potentially lower interest rates, where do investors look for yields or even better, growing dividends?

The weekly said as investors chase dividends in the big-cap space, the flight to “safe” stocks has sent their valuations up and their yields down.

It said this had raised the question as to whether these stocks can justify and sustain their premium valuations vis-à-vis investors’ high expectations of earnings growth.

The Edge said to find stocks that were more likely to have been mispriced, it turned to the small-cap space and filtered out companies with a market capitalisation of more than RM1 billion — stocks that are most likely on the radar screen of investors.

It then zoomed in on stocks with beta of less than 1.0, which indicates that their share prices exhibited less volatility against the benchmark FBM KLCI in the past two years.

The magazine said companies that generated a return on equity (ROE) of less than 4.6% — the effective bank lending rate in June — were also left out.

It said if companies are yielding an ROE that is lower than the cost of borrowings, it could mean that the underlying business models are unsustainable and are likely destroying shareholder value.

The best dividend stocks are the ones that pay growing dividends as the businesses continue to expand. Hence, we narrowed our list to those that generally have a history of consistently growing their dividends.

We also favoured companies that had a strong and cash-rich balance sheet as they could draw on their cash piles to maintain dividend payouts even if macroeconomic conditions worsened. The list is ranked by market capitalisation.

For the full story and the list of small caps with growing dividends, get a copy of the Edge for the week of Sept 5 – Sept 11 available at newsstands now