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Commodities / Re: Spot Gold Price (Per Ounce)
« Last post by king on Today at 08:31:40 AM »
Commodities / Re: Spot Brent Oil Price
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Equities / Re: KLSE starting to collapse
« Last post by ORIENT on Today at 08:08:04 AM »
HONG KONG: Hong Kong’s most famous stock picker is on the attack again, criticising the accounts of one of the city’s top performers this year.

Kingdee International Software Group Co dropped 14% at the close yesterday as the worst performer on the Hang Seng Composite Index after David Webb published a critical report calling it a “bubble stock.” Webb did not specify whether he had a short position in the shares, nor what he thinks they should be worth.

The company “has relied on sector-specific tax breaks, government grants, property investment gains and questionable transactions with related parties to book any profit at all,” Webb wrote in a post tweeted during the city’s one-hour lunch break. An external representative for Kingdee said management is confident about the company’s future and considers its strategy a success.

Webb, a former Barclays Plc banker, founded a well-followed website two decades ago that gives away his research on Hong Kong’s publicly traded companies. He often advises readers to stay clear of certain firms due to corporate governance issues - and is often right. Stocks on his “not to own’’ lists have lost US$16bil of their value since he warned against buying them.

Kingdee had rallied 53% this year through last Friday’s close to near a record high, trading at a whopping 60 times projected earnings. Its annual report last week was welcomed by analysts, many of whom raised their price targets on the stock after Kingdee said revenue from cloud services surged almost 50%.

“Investors are taking this excuse to lock in the profit as the valuation of Kingdee is at demanding level,” said Kingsway Group Services Ltd’s Steven Nie, one of only two analysts tracked by Bloomberg who recommends selling the stock. “There has been concern about its cloud business after it decided to acquire the cloud segment from its parent, as it doesn’t make money.”

Citigroup Inc analysts are sticking to their bullish stance on the stock even though it has been “volatile,” according to a note that addressed Webb’s post. That’s after the brokerage hosted investor meetings with Kindgee management. — Bloomberg
Equities / Re: KLSE starting to collapse
« Last post by ORIENT on Today at 08:07:25 AM »
KUALA LUMPUR (March 18): The Government has yet to set the floor price for scrap rubber because it will have a huge financial impact on the country, the Dewan Rakyat was told today.

Deputy Primary Industries Minister Shamsul Iskandar Mohd Akin said the Government has not been able to consider the proposal due to several factors including the need for huge financial resources to back the initiative in the event of a sharp downturn in the global price of natural rubber.

“The fixing of a floor price also gives room for price speculation among the rubber sellers by pushing the price to a low level and hoping for the government to cover the difference between the market price and floor price,” he said.

He was replying to a question from Awang Hashim (PAS-Pendang) who had wanted to know the possible impact of the rubber floor purchase price of RM2.50 if it is implemented.

Shamsul Iskandar said fixing the floor price also gave room for the smuggling of rubber out of the country because the domestic price is much higher than the international price.

Nevertheless, he said, the Government is concerned about the challenge faced by rubber cultivators, especially when there is a fall in the rubber market price.

The Rubber Production Incentive (IPG) was implemented as a measure to stabilise the price and production of the commodity, he said.

“As the rubber price was too low at the end of 2018, the government improved the IPG on Nov 21, 2018, by raising the Activation Pricing Level (PHP) from RM2.20 to RM2.50 per kg of scrap rubber,” he said.

He said the PHP level came into effect on Jan 1 this year and the ministry, through the Malaysian Rubber Board, had implemented the IPG at the new rate beginning early February.
Equities / Re: KLSE starting to collapse
« Last post by ORIENT on Today at 08:06:13 AM »
KUALA LUMPUR (March 19): The FBM KLCI is seen extending its gains today, in line with the firmer overnight close at most global markets, but may struggle to breach the 1,700-level.

Global shares hit their highest levels in five months and the dollar dipped on Monday, as traders began to price in the likelihood of the U.S. Federal Reserve sticking to an accommodative stance at its policy meeting this week, according to Reuters.

European markets extended a run of gains, helped by a jump in shares in German lenders Deutsche Bank and Commerzbank after they confirmed over the weekend that they were in talks to merge, it said.

The Dow Jones Industrial Average rose 65.23 points, or 0.25 percent, to 25,914.1, the S&P 500 gained 10.46 points, or 0.37 percent, to 2,832.94 and the Nasdaq Composite added 25.95 points, or 0.34 percent, to 7,714.48, said Reuters.

Based on corporate newsflow and announcements yesterday, stocks in focus today may include: Telekom Malaysia Bhd, Magni-Tech Industries Bhd, AMMB Holdings Bhd, YTL Corp Bhd, Barakah Offshore Petroleum Bhd, Malaysia Marine and Heavy Engineering Holdings Bhd, Kian Joo Can Factory Bhd, Can-One Bhd, Scientex Bhd, Daibochi Bhd, Tasek Corp Bhd, Berjaya Sports Toto Bhd, Metronic Global Bhd and Lotte Chemical Titan Holdings Bhd.
Equities / Re: KLSE starting to collapse
« Last post by DR KIM on Today at 07:49:37 AM »
Th :( :) :giggle: :giggle: :rofl: :giggle:e euphoria following Malaysia’s historic election last May has faded, leaving its stock market as Asia’s only one in the red this year.

Further  :giggle: :giggle: :rofl:
Global Markets / Re: DJIA Index Movements
« Last post by king on Today at 05:18:01 AM »

Global Markets / Re: S&P 500 Index Movements
« Last post by king on Today at 05:17:37 AM »

Equities / Re: KLSE starting to collapse
« Last post by ORIENT on Yesterday at 05:31:50 PM »





Equities / Re: Spot KLCI Index
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