Wednesday 30 November 2016

Najib Razak. Koon Yew Yin. Firestone

Is the 2014, hit single by KYGO. Now finally, the TRUE story, about 1MDB emerges, as narrated by one of Najib Razak's biggest market critic, the legendary investor Koon Yew Yin.

This is what the old sage, had to say :

I will not go into the size of the 1 MDB financial hole but will leave it to our accounting experts to do the mathematics. My main concern is not so much the actual financial loss incurred by the Government.

Although this will go down in history as one of the biggest con jobs done on a nation’s financial guardians and gatekeepers, frankly the actual financial loss is really not that big and it is one which the nation’s treasury can well afford.

So, finally the cat is out of the bag, just at a time Najib Razak has secured enough ammunition to place 1MDB into the HISTORY books

Those who accept, financially beneficial stock tips as FIRESTONE from Koon, must now go back , and re read everything about 1MDB, and ask themselves, why were they DELIBERATELY misinformed of the magnitude of the 1MDB losses..

Felda Global. Rain On The Scarecrow

Is the 1985 hit for John Cougar Mellencamp about RED America. Ironically, in Malaysia, RED Malaysia will either live or die in the Felda heartland.

The lyrics goes something like this :

Rain on the scarecrow Blood on the plow
This land fed a nation This land made me proud
And Son I'm just sorry there's no legacy for you now
Rain on the scarecrow Blood on the plow
Rain on the scarecrow Blood on the plow

Well, many a FELDA settlers will be wondering, where lay their LEGACY now.
As for the stock, Felda needs to BREAK RM1.60 to be taken seriously
For now, the plus point is that the 17 million shares TRADED today, is near its 4 weeks average volume of 20 million shares .

Malaysia Employment Hit 13 Month High. Both Sides Of The Story

Is a 1993 hit for Phil Collins. The title of the song is so true and some times, BOTH SIDES OF THE STORY, are telling the SAME story but in DIFFERENT ways.

Take for instance the finding of the latest PMI Index, which saw a contraction, the worst in FIVE months, yet Employment short up to its strongest level in 13 months.

Yes, shocking but true, there are jobs a plenty in Malaysia, if you WANT one. Clearly the PMI is down because we lack competitive foreign labour.

The Nikkei has the story :

Malaysia PMI hit 5-month low in November

TOKYO -- The Nikkei Malaysia Manufacturing Purchasing Managers' Index, or PMI, fell marginally to 47.1 in November from October's 47.2, marking the lowest reading since June.

A reading above 50 indicates economic expansion, while one below 50 points to a contraction. The latest figure shows Malaysia's manufacturing sector to be in contraction territory for 20 consecutive months.

"Total new orders contracted at the sharpest rate in the series history, driven partly by a fall in international demand," said Amy Brownbill, economist at IHS Markit, which compiles the survey.

"As a result, goods producers cut back on their buying activity at the quickest rate in seven months," she said. "On a more positive note, employment growth picked up to a 13-month high, suggesting firms are optimistic towards the outlook."


Felda Global. TACATA.

Is the 2012 global hit by Tacabro. So what has Felda Global got to do with "TACATA" ?

Well nothing much, but it sure has got a lot to do with Japan's TAKATA. Like TAKATA, Felda also is in a spot.

Read below, how one Japanese trader used news flow, to time his purchases and disposal of TAKATA shares :

Takata Corp., finalizing a buyer after spurring record auto industry recalls, fell in Tokyo trading after a Japanese day trader told his more than 103,000 Twitter followers he sold shares in the air-bag maker.

The stock slumped as much as 8.8 percent, the biggest intraday decline since Nov. 9, and was down 6.1 percent as of 2:11 p.m. in Tokyo. The trader, a former video-game champion and pachinko gambler who goes by CIS, wrote in a Twitter posting Wednesday that he sold all the Takata shares he’d purchased three weeks ago.

Bloomberg Markets magazine profiled CIS and the cult following he built among Japanese day traders in its November 2014 issue. In a phone interview Wednesday, he estimated that his Takata trade involving about 800,000 shares had netted a pretax gain of about $1.2 million. He also provided a screenshot of his trades.

Takata had climbed to the highest since Jan. 29 at Tuesday’s close as the company works to secure a buyer and finalize its restructuring plans following a series of recalls that may lead to replacement of more than 100 million air bags worldwide. The auto-parts maker has honed in on bids from Autoliv Inc. and Key Safety Systems Inc. as it progresses toward a final round of negotiating a sale, according to people familiar with the matter.

CIS has narrated his trades online before, including a short of Nikkei futures in August 2015 and bet on a subsequent rebound. His Takata trade began when the shares rose following a report three weeks ago that its U.S. subsidiary was considering filing for bankruptcy.

“The stock rose even after a piece of really bad news came out,” he said by phone. “For me that’s a sign of strong demand.”

The reason for selling involved the same simple logic, CIS said. The shares had stopped rising after positive news last week that a potential sale to Autoliv or Key Safety was progressing, he said

Ringgit Malaysia. What's The Colour Of Money

Is a 1986 hit for Hollywood Beyond, taken from the album IF.

When it comes to Ringgit Malaysia, "What"s the Colour of Money", with Bank Negara Malaysia, having one quote, Ringgit Offshore having another quote.

Both playing a chess game at between RM4.46 and RM4.47 to the Dollar.

The most consistent has been Maybank and CiMB , with both pricing the Ringgit to US Dollar quote at between RM4.51 and RM4.52 since LAST Week.

Italy. Rain or Shine

Is a 1986 hit for British Band Five Star . Over in ITALY today, there is a new Five Star Movement, which is threatening to rip Europe apart if a small Italian referendum which takes place on December 4, ends up with a no vote.
"Rain or Shine" the five star movement in ITALY are going out in full force for a no vote. Win that, and the movement is said to be a shoe in to win the next Italian election on a purely ANTi euro union stance

Felda Global. Najib Razak. Cool As Ice

Is a 1991 minor hit for Eminem. Today Felda Global is up eight sen to RM1.52 a share.

Does this make Najib Razak a great leader, a great man, a great prime minister?  The anwser is NO .

Be "Cool as ICE" and accept that market forces determines, a company's share price, and it really has nothing to do with weather Najib Razak is your PM or if he is NOT your PM..

Tuesday 29 November 2016

Saket @ MIA

Until I get better

Tek Seng. Broken

Is a massive 2008 hit for rockers Lifehouse.
Tek Seng  announced its results today, which looks "BROKEN", with quarterly revenue and pre tax profit falling.
Revenue fell to RM 82.27 million from RM99.33 million while pre tax profit fell to RM9.73 from RM10.97 million .
What looks 'Broken", though is The quarter's solar contribution falling by RM7.1 million to only RM36,000, while inventories stood at RM90 million , while borrowing was double of that at RM180 million.
Tek Seng can still turn things around, provided , it  some how boost solar panel sales.

Monday 28 November 2016

Melewar . I Get So Emotional

Is the 1987, hit for Whitney Houston. Melewar industrial group announced a set of really poor results, which saw it suffer a first quarter loss of RM8.09 million versus a profit of RM1.47 million a year ago.

Investors have got "so emotional" and sold down Melewar shares which opened at 52.5 sen to 40.5 sen.

The stock is down about 26 per cent, and nearing Limit down level, unlike Lion Steel which closed down, Melewar is still a running concern, and has the ability to fill in some of the vacuum left by Lion.

Mieco Chipboard. Come Out And Play

Is a 1994 hit for Punk Rockers, the offspring .
On October 20th, this is what I had to say about  Mieco Chipboard :

Ng Ah Chai made a mandatory general offer for Meico at 90 sen a share.

The stock now trades at RM1.03, though volume so far is not convincing enough, for Meico to retest the RM1.40 level now.

That could however change in December though, if the dollar keeps firm, and the spring cleaning takes place as planned.

Well it's NOT DECEMBER yet. Mieco is now RM1.25 a share and COUNTING.

Ringgit Malaysia. 1MDB. All Cried Out

Is the 1984 hit single by Alison Moyet. At current levels, the Ringgit trades at RM4.46 to the US Dollar.

Does this mean, most Malaysian companies are going to get bashed trying to service their debts.

Will they end up being "All Cried Out"? The answer is a surprisingly NO . The reason being, that despite the Ringgit being the most hard hit among Adrian currencies, our government's prudence in creating an a Ringgit denominated debt market, has saved Malaysian companies.

Below is a list from Bloomberg on the most Dollar denominated indebted companies in South East Asia. And not surprisingly, NO Malaysian companies make the list, not even 1MDB :

Singapore Telecommunications Ltd.: “The Singtel group (excluding our regional mobile associates), has foreign currencies borrowings which have been hedged into the functional currency of the respective borrowing entities,” said Lim Cheng Cheng, chief financial officer at the Singaporean phone company. “We have in place a euro medium term note (EMTN) bond program which enables us to tap various bond markets based on our funding plans. As an example, in October this year, we issued a US$500 million bond at a coupon of 2.375%, and this has been hedged back to Singapore dollars. Hence, from a debt management perspective, the impact of a rising U.S. dollar is not significant.”

PT Bumi Resources: “Our bonds are fully in U.S. dollars and so is our accounting currency," said Dileep Srivastava, director at the Indonesian coal mining firm. “So the rupiah exchange variations have no impact on us. We also have a natural hedge - our revenue is in dollars and 90 percent of our costs are in dollars.

"Olam International Ltd.: An external spokesperson for the Singapore-based food traders, one of the world’s biggest, declined to comment.

BOC Aviation Ltd.: “We have a massive warchest both to support our capex and to refinance our existing commitments," said Timothy Ross, head of investor relations and corporate communications at the aircraft leasing company based in Singapore. “There is no issue with regards to refinancing any of the debt as and when it comes due. All of our assets are in U.S. dollars. Our revenues are all in U.S. dollars and 92 percent of our costs are in U.S. dollars. We’re a pure U.S. dollar play which I guess if anything should make us more attractive given the strength of the U.S. dollar.”

Alliance Global Group Inc.: No one was available to comment when the Quezon City, Philippines-based company was contacted by phone. There was no reply to an e-mail to the investor relations department of the conglomerate, which has interests ranging from food and beverages to gaming.

Perusahaan Listrik Negara: No one was available to comment when the Indonesian government-owned electricity distributor was called, and there was no reply to an e-mail.

Berau Coal Energy Tbk: No one was available to comment when the Indonesian coal mining group was called. Jakarta-based corporate secretary Gamal Wanengpati couldn’t be reached for comment.

SM Investments Corp.: “Our dollar debt is fully hedged. The drop in local currencies does not affect the debt service of our foreign currency debts. There will be no increase in the debt service cost because our foreign currency debts are fully hedged including the interest cost,” said Jose Sio, chief financial officer of the Philippines conglomerate with interests in property, retail and banking. “Current and future refinancing activities are focused on raising in local peso currency. Example of this is our 20 billion peso corporate bonds to be issued during the first week of December 2016.”

Travellers International Hotel Group Inc.: “We’ve ruled out hedging because for us it’s slightly too late,” said Bernard Than, chief financial officer at the Philippines-based owner and operator of Resorts World Manila. “We’ve always marked to market the forex loss over the years. For the forseeable future, we’ll most likely just pay it off using peso debt.” He added that the company has enough credit lines to pay off the upcoming bond and plans to focus on local funding in the future. “We rather put our faith in things we can control rather than relying on a forex loan or forex bond where we are at the mercy of the exchange rates,” said Than. “We rather not put our faith in that any more and switch everything to local lending.”

Carmen Copper Corp.: This Philippines-based firm has operating rights over the Toledo copper mine. Parent company Atlas Consolidated Mining & Development Corp. this month approved a plan to refinance $300 million of bonds at its wholly-owned unit Carmen Copper. No one was available to comment when Atlas Consolidated Mining was called. There was no immediate reply to an e-mail to the investor relations department of Atlas Consolidated Mining. Two calls to Fernando Rimando, Carmen Copper’s chief financial officer, weren’t answered.

Bank Negara. NDF. Don't Dream Its Over

Is a 1986 hit for the Crowded House. Bank Negara Malaysia should NOT Dreàm it's over, with regards it's move to curtail Ringgit trades on the offshore market.
First of all, to ask foreign banks not hedge on the Ringgit offshore market, without creating a vibrant alternative is a disaster waiting to happen.
The central bank must surely be aware A 2013 study of nine NDF markets by the Bank for International Settlements found that the offshore and onshore markets both influenced each other, except in Malaysia, where onshore followed offshore.
The ringgit is one of the most actively traded emerging market currencies in the NDF markets. About 60 percent of Ringgit trading is done offshore, where the average daily turnover is nearly US$13 billion.
In a nutshell, you cannot stop a monster like     this with a mere letter, you need a game plan, or that letter is going to comeback and bite your ass off.

Bank Negara Malaysia. Balik Kampung

Is a 1993 hit for Sudirman. Goldman Sachs is now saying foreigner's who own Malaysian bonds are contemplating to BALIK KAMPUNG, due to Bank Negara's INEPT handling of the Ringgit NDF trades.

SYABAS, Bank Negara Malaysia, what will you think of next, or maybe it's better, if you Think before you ACT.

Reuters has the story. Read BELOW :

Nov 28 Malaysia's attempts to force currency traders overseas to stop selling down the ringgit, as investors flee the country's bond market, has had little discernible impact so far, traders and analysts say.

Over a week ago, Bank Negara Malaysia demanded that offshore banks confirm through signed letters that neither they nor their corporate clients would trade the ringgit on the non-deliverable forward markets.

An NDF allows banks and companies to hedge or speculate on emerging market currencies overseas when exchange controls in those countries make it difficult to trade directly on the spot market.

Bank Negara sent the letters to about 58 firms in Malaysia that have connections to offshore ringgit trading. Only a half-dozen offshore firms signed the letters, the Bank said last week.

The move has done little to bring ringgit trading onshore so far, traders said.

"If you think the economy is not doing well, then going onshore (to trade) will hardly help, as there is a high possibility the government may slap capital controls to protect its currency or domestic markets. And that would be very painful," said Nitin Dialdas, chief investment officer at Mandarin Capital Limited.


The ringgit has plunged nearly 7 percent over the last two weeks, the worst performing currency in Asia. On Monday, it weakened further to 4.46 to the dollar in thin trade at 0900 GMT.

The reason for the tumble is mostly because foreign investors have fled Malaysia's bond market - they own 40 percent of it - after bond yields spiked across the world amid speculation President-elect Donald Trump's stimulus policies will ignite inflation.

The immediate risk for Malaysia is its $81.4 billion worth of short-term external debt, said Trinh Nguyen, senior economist at Natixis investment bank in Hong Kong.

The Bank is "not without options", said Trinh, noting it could let the ringgit continue to slide, intervene to defend the currency, raise interest rates or even impose capital controls, as Malaysia did during the 1997/98 Asian financial crisis.


NDF markets for Asian currencies began in the 1990s as a way for foreign investors with local investments to hedge their exposure offshore due to local restrictions on currency trading or simply to speculate. By mid-2000, Asian currencies had dominated NDF trading in the global foreign exchange centers of Hong Kong, Singapore and London.

The ringgit is one of the most actively traded emerging market currencies in the NDF markets. About 60 percent of ringgit trading is done offshore, where the average daily turnover is nearly $13 billion. That makes it far more vulnerable to global events than other emerging currencies, traders say.

Malaysia does not recognise offshore trading in the ringgit because the currency is not international. But since the central bank has no jurisdiction over the offshore markets, it has tried to exert pressure on global banks through their Malaysian operations.

Global banks with operations in Malaysia would have to think twice about trading the ringgit overseas, once they sign letters promising not to do that, say bankers involved in the trade.

"It directly hurts our ability to offer portfolio hedging strategies to our clients, as we don't know whether our domestic operations will be affected because of this," said the head of currency trading at a U.S. bank.

Bank Negara has not spelled out what action it would take against a global bank's domestic operations for trading ringgit offshore.


At the same time, Bank Negara has said it is trying to make the domestic market more attractive for ringgit trading, though it has not disclosed what those measures would be.

Traders say the devil is in those details.

"The (Malaysian) regulators want something to be done fairly quickly but the reality is, operationally, certain things may not be achieved that quickly," said Ng Kheng Siang, head of Asia Pacific fixed income at State Street Global Advisors.

The central bank's move is making Malaysia's foreign bond holders nervous. Nearly half the domestic bond market is owned by foreign investors or roughly $42 billion, according to Goldman Sachs.

"Our ability to hedge in the NDF market is being slightly restricted and we do have to think about taking those positions where we may not necessarily be able to hedge the currency," said Kenneth Akintewe, senior investment manager for Asian fixed income at Aberdeen Asset Management.

Sunday 27 November 2016

Trump. China. Sun Tzu. War

Is the 1984 hit single by Frankie Goes To Hollywood, taken from the album Welcome To The Pleasure Dome .

There is No Pleasure Dome, for China if Donald Trump makes good his word to start a TRADE War.

China is now citing , famed general Sun Tzu's Art Of War, as one of its strategy to counter Donald Trump's America, in a PR war to avert a potential TRADE WAR

Still the sound bites coming from China, sounds like they are damn nervous and have forgotten the general's advice on Silence.

"as swift as wind, as silent as forest, as fierce as fire, as unshakable as mountain

Bloomberg has the story. Read Below :

There’s a Chinese saying that stems from the philosophy in Sun Tzu’s ancient text “The Art of War”: You can kill 1,000 enemies, but you would also lose 800 soldiers.

Centuries later, the proverb is suddenly apt again, being mentioned frequently in discussions around Beijing. Now, it highlights the potential damage U.S. President-elect Donald Trump could inflict if he makes good on his threat to start a trade war with China, the world’s second-biggest economy.

Having backed off some other campaign pledges, it’s unclear if Trump will end up slapping punitive tariffs on China -- and Beijing has signaled some optimism he will be more pragmatic in office. Still, the message from China is that any move to tax Chinese imports would bring retaliation: The U.S. economy would take a hit and America would damage its longstanding ties with Asia.

“China wouldn’t like to see that happen,” Fu Ying, who chairs the Foreign Affairs Committee of the legislature and was a vice foreign minister until 2013, said of the U.S. imposing punitive tariffs. “But if so happens, it won’t be one-way traffic,” she said last week in Beijing.

While China has warned the U.S. against picking a fight, the prospect of a more protectionist America creates an opportunity for President Xi Jinping in Asia, where trade-dependent nations are nervous about the potential fallout. Xi has rushed to portray his country as a champion of free trade, and Trump’s actions could give him an avenue to build his clout. Xi has spoken of his desire for the same great-power status enjoyed by the U.S., pushing back against American hegemony since World War II.

Malaysia. Happy Nation

Is the 1992 hit single that rocketted Swedish duo Ace Of Base into pop stardom.

In the Credit Suisse latest global wealth report, it was revealed that this year alone, Malaysia had created some 4,000 new millionaires.

HAPPY NATION indeed, while our country's debt to GDP stood at 54 per cent. On the converse, Singapore's debt to GDP stood at 104 per cent .

What's NOT so happy about the report is most Malaysians are spending way above their means.

The debt of each Malaysian adult also rose from US$7,054 in 2015 to US$7,462 this year.

On the converse, Singaporeans contributed to the gain with their average rise of US$4,000 in wealth per adult, bringing their individual share of wealth to US$277,000, or the seventh highest in the world.

What this means is, if a whole lot of Malaysians get into trouble at the same time, your government has the resources to bail you out, but if Singapore gets into trouble, the people will have to BAIL, their Government out.

Oil. Malaysia, China, Indonesia. I Need A Dollar

Is the 2010 , UK top 2 single by American Aloe Blacc.

The oil and gas industry privately will admit that due to prevailing low oil prices, they will be needing more than a DOLLAR

Bloomberg has the story how low oil prices is creating a NEW US$1 Billion a Year business in Malaysia, China and Indonesia. Read Below:

Low crude prices that have been hammering oilfield service companies for the past two years might be ready to give a little back.

Sinopec Oilfield Service Corp., Keppel Corp. Ltd. and others will have a chance to fight for $1 billion a year in new business in Asia as the crude crash forces energy producers to decommission aging and unprofitable fields, industry analyst Wood Mackenzie Ltd. said in a new report. More than 600 fields, mostly in China, Australia, Indonesia and Malaysia, could be shut down over the next decade.

The decommissioning represents an opportunity for oilfield service firms to rebuild their business after two years of layoffs and cost-cutting as the crude plunge caused a drop in drilling and exploration, the main activity for these firms. The Bloomberg World Oil & Gas Services Index has dropped 40 percent since the summer of 2014, compared with a 12 percent gain in the S&P 500.

Ringgit Malaysia. Rupiah Indonesia. Cinta Nusantara

Is the 1990 folkish hit for singer Sheqal.
Well its "Cinta Nusantara" all rite, of a different kind for the Ringgit Malaysia, when it hit a 52 week low against the Indonesian Rupiah today.

For a brief moment, the Ringgit fell to 3035.16888 on the official exchange board, but on the Ringgit Offshore board, its gone way past that.

Now ONE Ringgit only fetches 3028.91 Rupiah, and we all will have Bank Negara Malaysia to thank for, by their INEPT handling of the Ringgit NDF trades

Felda Global. This Ain't A Love Song

Is a 1995, top 20 hit for rockers Bon Jovi, taken from the album These Days.

These Days, when a stock is sold down, does it mean it's really down and out?

CIMB says today that based on worst case scenario, Felda Global must be worth RM1.56 a share

The stock is now trading at RM1.48, and the reality on the ground is Felda Global is a political stock.

PM Najib needs it, UMNO definitely wants it, because a wounded FELDA will be a political night mare in the RED heartland  of Peninsular Malaysia.

This Ain't A Love Song, it's a Buy song . Here are the lyrics for you to chew on, while considering the merits of picking up Felda Global shares :

should have seen it coming when roses died
Should have seen the end of summer in your eyes
I should have listened when you said good night
You really meant good bye

Dow Jones. Wall Street. Colour By Numbers

Is the 1983 album by Culture Club which spawned five top ten hits, including the monster hit Karma Chameleon.

Now the Wall Street Journal is saying if KARMA is anything to go by with, then the Dow Jones, should hit 20,000 points in NO TIME , but after that...

READ Below :

Dow 19000 was nice, but Dow 20000 is the real milestone to watch and maybe even fret about.

The Dow Jones Industrial Average is roughly 5% away from reaching the next millennium marker. If history is a guide, it probably won’t be a straight shot getting there. But when the Dow hits 20000, holding that major milestone might prove to be problematic.

Since 1999, when the Dow first crossed above 10000, the blue-chip index has averaged a small decline one month after the initial crossing of each 1,000-point interval, according to Schaeffer’s Investment Research.

Big milestones have historically been tougher. The Dow first hit 100 in 1906 but it wasn’t until the mid-1920s before it convincingly traded higher than that level. And it permanently broke above it in 1942.

The same held true for Dow 1000. The blue-chip average first reached that mark intraday in 1966, but didn’t close above it until November 1972. And it wasn’t until 1982 that the Dow finally traded above 1000 for good, 16 years after initially breaching that mark.

Dow 10000 was similar. The average fell below that level during both the bursting of the dot-com bubble and the financial crisis. It wasn’t until 2010 that the Dow finally crossed back above and held 10000, 11 years after initially hitting it.

Behavioral finance suggests volatility around these big-round numbers isn’t necessarily coincidental. An academic paper by Shanghai-based finance professor Yu Yuan found market milestones, such as the Dow hitting a record, puts investors on alert, causing them to be more active than normal in their portfolios. The S&P 500, a broader index with much more money tied to it, appears less important psychologically.

One theme today similar to when the Dow first hit 100, 1000, 10000: rich valuations. Nobel Prize winning economist Rober Shiller’s metric, the cyclically adjusted price/earnings ratio, is considered a stable long-term valuation indicator. It currently is 27.28, well above its average of 16.7 dating back to 1881.

Perhaps not coincidentally, the Shiller PE ratio was higher than average in 1905, 1966 and 1999, each time the Dow first hit those milestones.

Saturday 26 November 2016

Felda Global.Outsyedthebox. PISS

Is the hit single by hard rockers, Pantera, which was originally scheduled be on its Vulgar Display of Power’ album some 24 year's ago.
The album still remains one of the most influential metal albums of all time.
One of the most important thing they teach you at Goldman Sachs in New York is that when it comes to NUMBERS, make sure you PISS straight, and NOT on YOUR PANTS, because EVERYBODY can lie, but the NUMBERS can NEVER LIE.
So it came as a shock to me, upon reading one of my favourite blogs, the hard hitting OutSyedTheBox, that GOVERNMENT funds had lost some RM7.9 billion in Felda Global.


It shows that the 15 GLCs and Statutory bodies listed by Donny have lost up to RM7.9 Billion from their shareholding in FGV Bhd, whose share price had crashed from RM4.55 down to RM1.56 at the time of Donny's writing.

However a quick check on Bursa Malaysia, shows most of the government funds have added on to their shares through out the year's, and plus the DIVIDEND payments, it is a MATHEMATICAL impossibility for funds to have a RM4.55 a share basic cost.

It must be MUCH MUCH lower, but in their haste to GET PM Najib, they have used DECEPTION as a VULGAR DISPLAY of POWER, and ended up PISS ing on their PANTS.

So this song is for YOU :

A punk like that is piss in the wind,.
A go-getter who ain’t got none
A legend in his mind
Always the one to invite himself, and then gets left behind
Someone must have clipped his balls or wiped his ass on his life
A self-centered procrastinator, attention seeker who’s got nothing at all.”

Bank Negara Malaysia. Hijau

Is the 1990 hit for Zainal Abidin. The lyrics to the song, goes something like this :

Dewasa ini kita saling merayakan
Kejayaan yang akhirnya membinasakan
Apalah gunanya kematangan fikiran
Bila dijiwa kita masih lagi muda dan mentah
Ku lihat hijau

Nasional Bank of Australia, short of calling Bank Negara Malaysia' "HIJAU" said in a REPORT The Malaysian central bank's attempt to use moral suasion to support its currency threatens to backfire, increasing pressure on the ringgit and potentially hurting growth.

NAB pointed to concerns over Bank Negara Malaysia's warning to foreign banks to restrict trading in offshore non-deliverable forwards (NDFs) on the currency, which had fallen further than the spot rate.

In a note titled "Malaysia – Truly awkward," which played on Malaysia's tourism advertising slogan, "Malaysia, truly Asia, NAB said, it expects the dollar would fetch as much as 4.85 ringgit at the end of 2017,

Ringgit .No Money

Is a hit song this year for Galantis . "No Money" is what money changers in Singapore are telling people who want to buy Ringgit, with some speculating that the Sing Dollar to Ringgit Malaysia exchange rate could hit RM3.50.

Singapore's Today Online has the No MONEY story :

The Malaysian ringgit fell to an all-time low against the Singapore dollar on Friday (Nov 25), with S$1 trading at RM3.1317 at around 2.10pm, sparking a rush by bargain hunters seeking to stock up on the plunging currency.

By late trade, the ringgit had clawed back a little to S$1 to RM3.1280. The previous low was on Sept 29 last year, when S$1 could buy RM3.1309.

The decline in the ringgit has been exacerbated by Malaysia’s relatively inadequate level of foreign currency reserves, compared with other Association of South-east Asian Nations economies, said Mr Woon Tian Yong, investment analyst at Phillip Futures.

The lower ringgit saw consumers rush to money changers on Friday to snap up the currency, leaving shopkeepers in a bind. By 6pm, more than half of the money changers at The Arcade at Raffles Place had run out of ringgit.

Queues snaked to the outlets that still had stock, waiting to exchange their Singapore dollars at the going rate of S$1 to RM3.09.

China Money Exchange boss Mohamed Hasan Shaik Ismail, 45, said he had sold all his ringgit by 2.30pm. “It’s the school holidays now, so a lot of people want ringgit, but the rate is going down and down, and some customers also wait and see,” he said.

Some of the customers waiting in line to buy the ringgit told TODAY that they expected the currency to drop even further.

“Monday, maybe can even get RM3.10 for a dollar. I heard next year a RM3.50 rate might even come,” said Mr Alex Yee, 46, a senior executive in a shipping company.

Air Asia. Ganja Gun

IS a song from Bob Marley's 1979 Babylon Bus tour. This song is banned in Malaysia, But those going through the latest Air Asia research REPORT, can be forgiven  for suspecting a GANJA Gun is nearby.

Public Bank is neutral on Airasia, placing a RM2.50 price target on a stock that was last traded at RM2.71.

KN Kenanga, meanwhile  Keeps so OUTPERFORM call on AIRASIA with unchanged Target Price of RM3.82 

That is a RM1.31 a share difference in valuation between two research houses of repute. Who is correct and who is singing this song below behind close doors :

I'm gonna smoke'a de ganja until I go blind. 
You know I smoke'a de ganja all a de time. 
Smoke'a de ganja when I'm with friends.
We gonna smoke'a de ganja until the very end.

Friday 25 November 2016

Singapore Doomed

Bass, is the hot Feng Tao music hitting the club zones now, courtesy of Project Sonic.. Its hard hitting and full of trance. Bloomberg has a Story on Singapore's economy's BOMBING

Singapore will provide financing support to the country’s marine and offshore engineering companies to help ease some of the liquidity problems the industry has been facing amid weak oil prices.

More than two years of tumbling oil prices have wiped about $15 billion from the market value of Keppel Corp., Sembcorp Marine Ltd. and Singapore’s other listed oil-services companies. Since then, at least 25,000 jobs have been axed.

The oil industry may cut spendingfor a third straight year in 2017 as lower costs kick in and companies continue to grapple with weaker finances because of crude’s slump, the International Energy Agency said in September.

Things could get worse off for Singapore, following, REPORTs that Saudi Arabia is walking away from upcoming talks with non-OPEC members, including Russia, amid disagreementson how to share the burden of oil production cuts.

While Malaysia is facing a currency attack, Singapore's real economy's is in CLEAR and PRESENT danger.

So who is better off????

Euro, Dollar , Sing.Cash Me Out

Is a 2015 minor hit for Zara Larsson. It looks like its "CASH ME Out " time for the Ringgit .
We had highlighted early this week that the real play on the Ringgit had begun.
So what's the damage ?
The Ringgit's value have fallen at RECORD levels against the Singapore Dollar and Euro.
One Sing Dollar Now buys 3.13 Ringgit, while one Euro Now buys 4.74 Ringgit. The US Dollar and Ringgit exchange is at RM4.47, heading towards RM4.50 .

Thursday 24 November 2016

AppAsia Bhd. Little Lies

Is the third single from Fleetwood Mac"s highly successful third album tango in the night.

The 1987 hit, is up till today, Fleetwood Mac's last top ten hit single.

So does AppAsia have one more run in it?judging from the money flow index, somebody has been accumulating the shares again at the 25 sen level.

The stock is down half sen to 25.5 sen, will there be enough punters to take a "Tango in the night" with AppAsia?

Sure the company had announced a NON EXCLUSIVE agreement with Ali Baba, but NON EXCLUSIVE is exactly what it is, NON EXCLUSIVE.

As for the Australian market listing, one wonders, will it dilute AppAsia's already poor earnings?

Investors must weight all this up , as for me, I am listening to "Tell Me Lies, Tell Me Sweet Little Lies".

Ringgit Malaysia. Currency Speculators. Club Rocker

Is the 2011 hit for Romanian diva Inna, featuring American rapper Flo Rida.

The stand out house themed music is taken from Inna's top selling album, entitled I'm the Club Rocker.

Like wise currency speculators might have their eyes wide open, with the latest IMF report that suggest that the Ringgit is prone to an attack.

Bloomberg has the story, but before you read it, hold on to your horses because PM Najib, has one card to play, to prove who indeed is the real bad ass "Club Rocker".

That card is the tie up with China which allows the both the countries central banks to help each other in the event of an attack by providing liquidity in local currencies.

This tie up has already, helped boost Malaysia's foreign reserves by as much as US$500 million yesterday.

Now you can read the Bloomberg piece below :

Malaysia -- not coincidentally the worst performing of the major emerging Asian currencies against the dollar this month -- faring poorly by comparison, with a $100 billion reserves projection against short-term external debt of $128.2 billion, based on IMF estimates.

Looking beyond Asia, Turkey, South Africa and Mexico are among those deemed more vulnerable by the assessments.

Malaysia’s reserves are well down from a May 2013 high, and the slimmer adequacy ratio “limits the ability for BNM to intervene,” , said Khoon Goh, head of Asia research at Australia & New Zealand Banking Group Ltd.

ANZ is currently reviewing its currency forecasts amid the current sell-off in emerging markets, according to Goh.

Felda Global. Bad Company. Rock Steady

Is taken from the above mentioned group's debut album in 1974.
The Bad COMPANY album, propelled the British hard rockers to international stardom.
Like wise, Felda Global is at a cross road today. The stock needs to push pass the technical RM1.60 resistance, to "Rock Steady" next week.
Standing against a BAD COMPANY like Rock Steady show next week is a Affin Huang Research report , which has valued FGV at RM1.10.
Betting on BAD COMPANY like Rock Steady show is a KN Kenanga report, which values Felda at RM1.90

Maybank.Ringgit. Sign O The Times

Is the funky 1987 hit for Prince. And it could be "Sign O The Times " for the Ringgit which currently trades at RM4.44 against the US Dollar.
The triple 4 is the numerical of death for the Chinese. Maybank is doing nothing, to put the fear of that symbol to rest, when it VERY oddly quotes both the selling TT/OD for US Dollar and the CURRENCY notes selling price at the SAME level of RM4.52.
On the converse, at CIMB the TT/OD price for the US Dollar is at RM4.51, while for currency notes, it's at RM4.37.

Ringgit Malaysia. Chica Bomb

Is the 2010 stand out hit by Russian superstar Dan Balan.
It looks like the Ringgit has "BOMB" out against the US Dollar in the NDF offshore market.
At current level 1US Dollar is worth RM4.45 and COUNTING

If You Think Malaysia Has Got It Bad. Shut Up

And dance is the 2015 humongous hit for American rock band Walk The Moon. The song is taken from the album Talking is hard.

In Malaysia, though "TALKING is Easy" especially when you don't have to prove it. Everything from the Ringgits fall to prices of cooking oil is blamed on one scandal or another.

Malaysia is actually better off, than some of its peers and contemplates in South East Asia.

So "So Shut Up And Dance" and read the two Bloomberg articles below:

1) The Philippines is ground zero for the rout as a resurgent U.S. dollar and Manila’s still-expensive stock market have made it even more vulnerable, with the peso plunging to an eight-year low.

The currency of the Southeast Asian nation reached 50 to the dollar for the first time this decade on Thursday and headed for its biggest annual loss since 2013. While equities are poised for their worst month since August 2013, valuations are still the priciest in Asia.

A Bloomberg gauge of the dollar is heading for the strongest close since at least 2005 .

2) Singapore, on track to post its worst economic performance since the 2009 global financial crisis this year, is bracing for more uncertainty as rising protectionism poses risks for the export-dependent nation.

The city-state Thursday cut the top end of its 2016 growth forecast to 1.5 percent from 2 percent and estimated non-oil domestic exports probably fell as much as 5.5 percent.

The economy contracted an annualized 2 percent in the third quarter from the previous three months, the Ministry of Trade and Industry said in a report.

For next year, the government’s export forecast ranges between a 1 percent decline to a 1 percent gain.

Krystal Tan, an economist with Capital Economics Ltd. in Singapore, said she’s anticipating growth in the city-state of about 1.5 percent next year, even as exports stabilize.

“It’s a bit surprising that they have the upper range of their forecast so high at 3 percent,” Tan said by phone. “I would expect the government to cut the top of the forecast gradually over the next few months.”

Dow Jones. That Was Then, This is NOW

Is a song originally recorded in 1966, but only released as a single in 1986, by the Monkees.

It was a massive hit for the Monkees in 1986. The Dow Jones is off today for Thanksgiving, so let's reminisce some time.

It was 60 year ago, in 1956, the Dow Jones industrial average crossed the 500 point mark for the first time in history.

"That was then, this is now,". The Dow Jones crossed the 19,000 points for the first time in its history, this week, and now stands at a historic peak of 19083.18 points.

"That was then, this is now", both happened in the YEAR of the FIRE Monkey, and appropriately brought to you by a song by none other than the Monkees.

AppAsia Bhd. Somebody Stole My

Car Radio is the massive alternative hit for twenty Øne Pilots.
AppAsia down 5 sen to 26.5 sen. Volume for the day was 23.18 million, or nearly SEVEN TIMES, the stocks four week average volume of 3.55 million shares.
It looks like a selling volume and it feels like "Somebody stole my car radio" right under my nose, for those caught in the cross fire.
If the stock has one more off today, this stock could sink to below 20 sen.
Caveat emptor INDEED.

Najib Razak. One Girl Can Change The World

Is the standout 2012 hit for Shuree. PM Najib & his wife took a real beating for going to China to help boost business in Malaysia, at a time a racially polarised RED Malaysia and YELLOW Malaysia, were hell bent on it.

Today, that single visit seems to have given the Ringgit a small respite despite Bank Negara Malaysia, fumbling along the way.

It has also helped boost our country's reserves, which every fund manager in town, had expected to FALL.

CNBC has the story. Read Below:

How did Malaysia's central bank manage to simultaneously meddle in markets to support its currency and increase its foreign exchange reserves? That's a $500 million question.

Malaysia's central bank, Bank Negara Malaysia (BNM), said last week it was intervening in the market to support the ringgit, which was particularly hard hit in the "Trump tantrum" of emerging market fund outflows in the wake of Donald Trump's surprise U.S. election win on November 8.

That intervention should have showed up in the country's foreign-exchange reserves as a decline because the central bank would usually need to sell foreign currencies to purchase ringgit.

Instead, the central bank said on Tuesday that its international reserves amounted to 407.8 billion ringgit, equivalent to $98.3 billion, as of November 15. That compared with the 405.5 billion ringgit, or $97.8 billion, it had as of October 31, according to a November 7 statement.

BNM didn't immediately answer emailed requests for comment on the unusual rise in reserves, but at least one analyst noted the seeming discrepancy in the figures.

"A surprise increase in foreign-exchange reserves and BNM reassuring investors that capital markets and the banking system is deep and liquid in their policy statement leaves more questions than answers," Jason Daw, a foreign-exchange analyst at Societe Generale, said in a note on Thursday.

"Valuation effects alone should have caused reserves to fall and it is unlikely that dollar buying occurred in the November 1-15 period," he said, speculating that Malaysia's swap line with China's central bank, the People's Bank of China (PBOC), may have been tapped for dollar liquidity.

The swap arrangement allows the two central banks to provide liquidity in each other's currencies, primarily aimed at supporting trade and investment.

Felda Global. The Monster

Is a 2014 hit for Eminem & Rihanna. After days of taking a beating, Felda Global is back as "The Monster" stock,and it is now taking RM1.60.

Don't expect to see Felda at this level for long, as Ahmad Husni's impending appointment  as Felda chairman, will provide comfort to RED Malaysia that their life long saving are in safe hands.

While YELLOW Malaysia, is already punting on the stock with the knowledge that finally an honest broker will be keeping watch over this "MONSTER" of a company.

Wednesday 23 November 2016

Felda Global. New Song

Is the 1984 ground breaking hit for Howard Jones.

Likewise, there is a "New Song" for Felda Global, as PM Najib poised to pick the fiercest critic of 1MDB, as the new chairman of Felda.

Ahmad Husni, "the white" in RED UMNO, already seems to be getting the correct signal from the market.

Felda is up three sen to RM1.58. This stock is NOT going to stay at this level for a long time, as the PM will be giving the STRONGEST signal yet, that he will not let anyone mess up the livelihood of the MALAY heartland.

FELDA has a "NEW SONG". The lyrics goes something like this :

I've been waiting for so long
To come here now and sing this song
Don't be fooled by what you see
Don't be fooled by what you hear

This is a song to all of my friends
They take the challenge to their hearts
Challenging preconceived ideas
Saying goodbye to long standing fears

Don't crack up
Bend your brain
See both sides
Throw off your mental chains

Ahmad Husni bin Mohamad Hanadzlah Is A White. RED

Is the mega album by Taylor Swift. And that colour laced with white is the colour of Ahmad Husni bin Mohamad Hanadzlah.

Red and white is UMNO, and PM Najib has got his former MOF2 to do some serious ass kicking.

Pending the UMNO supreme council meeting next week, meet Ahmad Husni bin Mohamad Hanadzlah, the NEW chairman of FELDA

Ringgit Malaysia 4.46. Traicionera

Is the standout hit in Latin America now by Sebastian Yatra.
The Ringgit off shore is now at RM4.46. Bank Negara Malaysia looks to have played its last two cards wrong with plenty of help from Bernama and New Straits Times.
This time there is no stopping exporters such as Mieco Chipboard, Top Glove , Kobay and Inari.
This is it. This is the real play on the Ringgit.

CIMB. Ringgit Malaysia. The First Cut

Is the deepest is the 1976 classic by Rod Stewart.
CIMB now quotes the Ringgit to US Dollar currency notes at RM4.51.
"The First Cut is the deepest" indeed.

Felda Global. I can't Feel

My face is a 2016 monster hit for the weekend.
The lyrics to this song goes something like this :

She told me, "Don't worry about it"
She told me, "Don't worry no more"
We both knew we can't go without it
I can't feel my face when I'm with you, but I love it, but I love it.

With that, one way or another if you have Felda shares you will be feeling one of two extremes of 'I can't feel my face".

Shale Drilling. Petronas. Appo Nak Dikato

Is a mega hit for Malaysia's very own Blues Gang.
Well it's indeed "Appo Nak Dikato" time when Personas goes in big time into shale oil drilling.

Reuters has the story.  Read below :

Argentine state-controlled energy company YPF said  it plans to continue a pilot shale oil project with Petronas announcing an additional $192.5 million joint investment.

The two companies put nine wells into production between May 2015 and September of this year, with an initial $165 million investment, YPF said in a statement.

In the next phase they intend to drill 10 horizontal wells and build infrastructure to transport shale oil.

The project is located in the Amarga Chica block in Neuquen province. Southern Argentina is home to Vaca Muerta, one of the world's largest shale reserves

US Dollar. Bitch Better Have

Money is a 2015 top five hit for Rihanna. Likewise if you are carrying US Dollars with you, Bitch or otherwise, you have MONEY.

Bloomberg has the lowdown on what's cooking with the US Dollar. Read Below:

Dollar Rises to Decade High on Fed Bets as Bonds Slip With Gold

 The dollar rallied to the highest level in more than 10 years.

The greenback climbed against most of its major peers, touching its strongest level since March versus the yen.

“You see the dollar spike again and Treasuries down again,” said Timothy Ghriskey, who helps manage $1.5 billion as chief investment officer at Solaris Asset Management LLC in New York.

“This all has to do with the feeling that the Fed is likely to be more aggressive over time.”

The dollar dominated the session, rallying versus 14 of 16 major currencies.

* A gauge tracking the greenback against 10 major peers rose 0.6 percent as of 4 p.m. in New York. 

* The dollar added as much as 1.7 percent versus the yen, reaching its strongest point since March 29, and advanced 0.7 percent against the euro.

Bank Negara Malaysia. No Diggity

Is the 1996 hit by Dr Dre & Blackstreet, which dislodged Macarena on the charts after 14 weeks at number one on the billboard charts.

Bank Negara kept interest unchanged today, and now one expert says, nothing is going to happen in 2017.

Read Below :

Capital Economics Analyst Krystal Tan wrote:

There are fears that Donald Trump’s reflationary policies could lead to a rise in US inflation and trigger the Fed to hike interest rates aggressively, leading to a pull-back of capital flows from emerging markets. The need to roll-over Malaysia’s large stock of short term external debt (which is the equivalent to around 28% of GDP) makes the ringgit vulnerable during periods of global risk aversion. Malaysia’s relatively high level of foreign currency debt, estimated at close to 40% of GDP, means it won’t want to risk sharp falls in the ringgit.

The tone of today’s statement suggests that the central bank is in little hurry to adjust monetary policy settings any time soon, and there was no mention of the possible introduction of capital controls which had recently been mooted in the press. With inflation set to remain low, we expect interest rates in Malaysia to remain on hold through 2017.

Ringgit 4.44. Somebody Please Stop Bernama. Clarity

Is the hit single by ZEDD. "Clarity" is what we need.
So somebody please STOP Bernama reporting stories such as Ringgit now accepted on Cathay Pacific flights or Ringgit accepted in Saudi Arabia, Thailand and Indonesia.
Let me give the Government of Malaysia a free PR tip. Everybody has the impression that the Ringgit is ACCEPTED everywhere, but the BERNAMA reporting makes us WONDER.
Who is actually Bernama working for? What is their agenda, if NOT to create PANIC?

Tuesday 22 November 2016

CIMB. Maybank. Traicionera

Is the hottest Spanish single in the market now by Colombian Sebastian Yatra.

It means, "traitoress" in English. With this in mind, CIMB and Maybank are now selling tt/od the US DOLLAR at RM4.49.

Felda Global. Bed Of Lies

Is a recent monster hit for Nicky Minaj. Many traders are screaming that the Felda management knew 'of the bed of lies", flaming the company now, but choose to keep silent until yesterday.

Regardless of the "Bed of Lies" , KN Kenanga, now says that Felda is worth RM1.90, based on a price to book valuation of 1.1 times.

Will the market BiTE into the research report, or will it be the case of another one bites the DUST!!!.

Felda Global. The Heartbeat Song

Is a 2015 hit for Kelly Clarkson. After hitting a low of RM1.56, is Felda Global ready to sing the "Heartbeat" song.

Has the selling been done with, or is there more to come? We shall soon know. Whatever it is, the valuation for Felda is PURELY politics.

This coming election will be WON or LOST in the FELDA, heartland, in RED, Tanah Melayu.

If you believe in that, then this is YOUR "HEARTBEAT SONG".

Felda Global Bhd. Gangnam

Style is the 2012 one hit wonder by South Korean rapper PSY.

With fraud now thrown into an already very difficult situation for Felda, this stock is now trading at the RM1.60ish level.

At the RM1.50 ish level, Felda is a political animal, and perhaps at this level, it can find its fair value home.

Like Felda or Hate Felda, this stock has the "GANGNAM" style written all over it. Let's get real, the bulk of those holding Felda stocks are government backed funds. They wont throw the kitchen sink, as the political dimension is a C4 in the making.

Regardless, this is NOT a contra song.

Bank Negara Malaysia. Trapped

Is the massive 1985 hit for Colonel Abrams.
Likewise, Bank Negara Malaysia, seems to have "TRAPPED" itself into a corner today.
The central bank knows it must bite the bitter pill and cut interest rates today.
But all 18 analyst polled by Bloomberg yesterday, expect Bank Negara Malaysia to do "NOTHING".
Part of the reason is because Malaysian financial institutions could be the worst affected by a slide against the US Dollar, which stands at RM4.42.
With fund managers now saying the probability of the US Federal Reserve hiking lending rates next month, Bank Negara Malaysia is caught in a catch 22 situation.
Cut interest rates, and see the value of the Ringgit slide, knowing that Malaysian banks are the biggest issuers of short-term dollar debt, with more than US$3.5 billion of bonds due in less than a year outstanding.
Don't cut interest rates now, and you close the door to reinvigorate the manufacturing sector.
What the central bank to today, will gives us all an insight, if our bankers are long or short sighted.