Tuesday 28 February 2017

Jaks Resources. I need a hero

Is the smash hit by Bonnie Tyler, taken from the footloose movie soundtrack.

JAKS Resources, very badly needs a hero. Can Koon Yew Yin, do the footloose, and return JAKS back to RM1.35.

Some remisers whom i know, says that Koon still has the X FACTOR. They point out to JAKS rebounding from RM1.04 to close at RM1.10, and point out that the Vietnam project is actually a goldmine for JAKS Resources.

Me, I am more comfortable with M&A's Mieco Chipboard, as the players are more stable and rationale.

That being said, there is more to be made from JAKS Resources, so expect a real cowboy type swing pretty soon, because reputations are on the line.

Ringgit Malaysia. Broken

Is the smash hit Lifehouse, taken from the album, who we are.

Ringgit Malaysia, looks Broken, with the currency hitting an all time low of RM3.17 against the Singapore Dollar

Monday 27 February 2017

RM10.5 Billion. Don't Speak

Is the 1996 massive hit for No Doubt, taken from the album tragic kingdom.

By all accounts, I am a nobody, nor am i a trained economist, but months ago, when Bank Negara Malaysia, started crimping the NDF trades, I had warned, the move, could well place this nation on the tragic kingdom list.

With foreigners holding of Malaysian government held bonds falling to 46 per cent from 51 per cent, there is a huge "don't speak" on what is going to happen in the middle of next month.

Come mid March, the central bank must be held responsible if foreign funds pull out the RM10.5 billion, that is up for redemption.

The governor of Bank Negara Malaysia must resign because instead of helping the government of NAJIB Razak, He has become a clear, present, and dangerous walking liability.

Ringgit Malaysia. We're Not Gonna Take It Anymore

Is the mammoth 1984 hit for hard rockers Twisted Sisters, taken from the album stay hungry.

Looks like currency traders aren't staying hungry after Bank Negara curtailed the offshore NDF market.

Instead, they are saying We're not gonna take it anymore, and have given up on Malaysia. Reuters has the story. Read Below :

When Malaysia forced foreign investors in its markets not to dabble in offshore derivatives in its currency last year, its target was speculative pressure on the ringgit, but it appears to have shot itself in the foot.

The ringgit was the weakest currency in emerging Asia last year after China’s yuan, prompting Malaysia’s central bank to get a written commitment from foreign banks to stop trading ringgit non-deliverable forwards (NDFs), offshore contracts they use to hedge their exposure to the currency.

The upshot has been a flood of money leaving Malaysian bonds as foreigners, who own US$47 billion of them, were unable to hedge their risks in onshore markets because of a lack of liquidity.

“It’s a market that’s kind of been destroyed,” said Gene Frieda, the London-based global strategist at bond giant fund Pimco, who blamed the inability to hedge for making it difficult to make significant bond trades.

Although Frieda said the currency now looked cheap compared with regional peers, he couldn’t see it rallying under the circumstances.

“We don’t find the bond market particularly interesting at these levels,” he said.

Analysts at Nomura say November-to-January capital outflows from Malaysia hit a record for a three-month period, when RM27.9 billion (US$6.3 billion) of foreign cash upped and left. Foreign holding of government bonds fell to 46 per cent of the total outstanding value, from 51.6 per cent in October.

The South-east Asian nation’s US$97.7 billion of currency reserves are looking vulnerable after having fallen by US$3 billion in three months, and the ringgit has fallen 5.7 per cent since the end of October.

Drying up

The central bank, Bank Negara Malaysia (BNM), insists that the NDF market is volatile, opaque and subject to abuse, and it told Reuters it was committed to its policy.

BNM will continue to enforce the policy of non-facilitation of NDF trading rules on the onshore banks to protect consumers’ interests,” it said.

It also insisted that the onshore markets were deep and broad enough to facilitate hedging, with spot and forward trade volumes worth more than US$152.4 billion over January and until February 22, of which non-residents accounted for 42.5 per cent.

But foreign investors say that while the BNM has succeeded in drying up the NDF offshore market, there just aren’t enough onshore sources of dollars to take the other side of their trade.

“The NDF market is now extremely illiquid,” said Prashant Singh, lead portfolio manager with Neuberger Berman in Singapore.

“The onshore market is also illiquid, and there is no natural seller of dollars other than BNM themselves for now.”

Traders say the BNM’s own sales are too irregular to be reliable for their purposes.

The capital outflows do not yet represent a crisis for an economy that still runs a trade surplus, but further capital outflows could result in a sharper ringgit fall, tighten financial conditions and thus threaten both growth and market stability.

Investors’ immediate concern is that the foreign money in 10.5 billion ringgit of bonds maturing in mid-March will flee. They already suspect that much of the overseas cash in an 8.75 billion ringgit chunk that matured in mid-February has left the country.

Mohammad Hasif Murad, investment manager at Aberdeen Islamic Asset Management Sdn Bhd, which holds Malaysian government bonds and has some bonds maturing in February and March, said the firm had repatriated some of the proceeds of matured bonds, but has also “strategically reinvested in specific tenors where we see value”.

Aberdeen Asia has assets of US$3.5 billion, and its allocation to Malaysian local currency assets is approximately US$110 million.

Fixed income managers at Old Mutual Global Investors, which has 29 billion pounds (US$36.4 billion) under management, paint a gloomy picture.

“We are currently underweight Malaysian bonds and underweight duration given the risk of increased outflows from offshore investors and a likely re-steepening of the local curve as domestic demand will struggle to absorb new debt supply,” they said in a note.

There was little incentive to invest in Malaysian bonds without the ability to hedge, given the likelihood that the ringgit will remain undervalued due to increased capital outflows, they said in a note.

Pimco’s Frieda says the currency could at some point be an attractive buy, provided there was enough liquidity to transact freely.

“You still have to be able to get in and get out,” he said.

Ringgit Malaysia. We came to smash

Was a massive club hit for DJ Martin Solveig, taken from the album smash.

The Ringgit is getting smashed alright, against the Singapore Dollar , as it closed at RM3.16 against the SGD.

This is a historical low. With the Ringgit now flashing 4.44 against the US Dollar, the numerical Chinese sign suggest, Ringgit Malaysia, you better beware, because We Came To Smash!!!!

Mieco Chipboard. Everybody Loves A Winner

Is the 1960's classic from William Bell.

Everybody loves a winner indeed, and Mieco Chipboard is indeed a winner.

There is a ten sen a share interim dividend, and to top that full year 2016 profits surged FOUR TIMES to RM82.67 million versus RM18.64 Million.

The most optimistic thing about the Mieco results are that the directors are confident of matching this performance in the quarters to come.

Mieco to fly sooner, rather than latter.

Sunday 26 February 2017

North Korea. Why Me

Is the 1980's smash hit for Irene Cara, taken from the album What A Feeling.

Well, what a feeling indeed, as Malaysia looks at its "friend", North Korea, and asks WHY ME?

Reuters has the story. Read below :

North Korea spy agency runs arms operation out of Malaysia, U.N. says


By James Pearson and Rozanna Latiff

It is in Kuala Lumpur's "Little India" neighborhood, behind an unmarked door on the second floor of a rundown building, where a military equipment company called Glocom says it has its office.

Glocom is a front company run by North Korean intelligence agents that sells battlefield radio equipment in violation of United Nations sanctions, according to a United Nations report drafted for the Security Council seen by Reuters.

Reuters found that Glocom advertises over 30 radio systems for "military and paramilitary" organizations on its Malaysian website, glocom.com.my.

Glocom’s website, which was taken down late last year, listed the Little India address in its contacts section. No one answers the door there and the mailbox outside is stuffed with unopened letters.  

In fact, no company by that name exists in Malaysia. But two Malaysian companies controlled by North Korean shareholders and directors registered Glocom's website in 2009, according to website and company registration documents.

And it does have a business, the draft U.N. report says. Last July, an air shipment of North Korean military communications equipment, sent from China and bound for Eritrea, was intercepted in an unnamed country. The seized equipment included 45 boxes of battlefield radios and accessories labeled "Glocom", short for Global Communications Co.

Glocom is controlled by the Reconnaissance General Bureau, the North Korean intelligence agency tasked with overseas operations and weapons procurement, the report says, citing undisclosed information it obtained.

A spokesman for North Korea's mission at the U.N. told Reuters he had no information about Glocom.

U.N. resolution 1874, adopted in 2009, expanded the arms embargo against North Korea to include military equipment and all "related materiel".

But implementation of the sanctions "remains insufficient and highly inconsistent" among member countries, the U.N. report says, and North Korea is using "evasion techniques that are increasing in scale, scope and sophistication.”

Malaysia is one of the few countries in the world which had strong ties with North Korea. Their citizens can travel to each other’s countries without visas. But those ties have begun to sour after North Korean leader Kim Jong Un’s estranged half-brother was murdered at Kuala Lumpur’s international airport on Feb 13.

Mieco Chipboard. We will Rock You

Is the evergreen classic rock single by the Queen.

Mieco Chipboard is now a RM2 a share stock. The company will announce it's results next week.

What this means is We Will Rock You, with a fantastic set of results, a dividend, and a rerating of the stock.

Mieco Chipboard, next stop RM2.50!!!!

Parti Islam Se Malaysia. Give me something for the pain

Is the massive hit for rockers Bon Jovi, taken from the album these days .

These days, it seems that even PAS is up in arms and screaming to the government : Give me something for the pain.

Malaysiakini, has the story. Read below :

Timbalan Presiden Pas, Datuk Tuan Ibrahim Tuan Man menggesa kerajaan membatalkan cukai barangan dan perkhidmatan (GST).

“Jika kerajaan tidak mampu untuk membatalkan GST, sekurang-kurangnya kerajaan perlu menurunkan kadar GST sejajar dengan kenaikan kadar inflasi sebagai langkah mengurangkan beban rakyat.

“Menurunkan kadar GST sejajar dengan kenaikan kadar inflasi tidak akan mengurangkan nilai kutipan GST kepada kerajaan kerana harga barangan yang lebih mahal akan mengimbangi penurunan kadar GST,” katanya dalam kenyataan.

Beberapa hari yang lalu, RHB Research menjangka inflasi akan meningkat kepada tiga peratus tahun ini daripada 2.1 peratus pada 2016, katanya dalam satu nota penyelidikan.

Jangkaan itu dibuat berdasarkan harga bahan api yang lebih tinggi, penghapusan subsidi ke atas harga barang terpilih, peningkatan kos perniagaan serta penyusutan ringgit yang menyebabkan harga import yang lebih tinggi, katanya.

“Kadar inflasi naik kepada 3.2 peratus tahun ke tahun pada Januari 2017, daripada +1.8 peratus pada Disember dan November 2016. Ini disebabkan pemulihan dalam kos pengangkutan,” katanya.

Firma penyelidikan itu berkata, Bank Negara Malaysia (BNM) dijangka mengekalkan kadar dasar semalaman (OPR) pada paras semasa, iaitu tiga peratus pada 2017.

Mengulas lanjut, Tuan Ibrahim berkata, ini bermakna harga barangan akan terus meningkat dan rakyat yang merana terpaksa lagi membayar lebih di bulan-bulan akan datang untuk segala jenis barangan pengguna.

“Apapun, kerajaan perlu beringat bahawa kadar inflasi sebenar adalah lebih tinggi di realiti

Oil prices. Teka Teki

Is currently riding high on the Indonesia charts. The single is by Kotak feautring Anggun.

While oil and gas stocks such as Hibiscus and Reach Energy has gone up in recent months,  hand in glove with a rise in crude oil prices, this hasn't been the case in New York.

That's causing concern with analyst over there, leading them into a game of TEKA TEKI, resulting them in predicting that the crude oil bubble is going to burst.

CNBC has the story. Read below :

The stock market may be signaling something is awry in the oil market.

Like a seesaw, oil prices have gone up in February, while energy stocks have gone down. Matt Maley of Miller Tabak Securities says the action in crude oil creates a "conundrum."

"Energy stocks usually lead crude oil ... so if history is any guide, the decline in the XLE should be telling us that the recent bounce in WTI is not going to last," Maley said in a recent note.

The Energy Select Sector SPDR fund (XLE) is down more than 5 percent in one month, while West Texas Intermediate crude futures are up almost 2.5 percent. Energy is the worst performing sector in the S&P 500 over the same time period, logging a near 6 percent loss.

Still, investors have been piling into crude futures and traders say there aren't really signs of a pending correction. But the buying by speculative traders in oil futures has created the biggest net 'long' position in history, signaling that if there is a break in prices, investors running for the exits could cause some calamity in the market.

"The Commitment of Traders data shows that the 'specs' are loaded to the gills in crude oil — they have their largest net long position ever. Similarly, the 'commercials' have their largest net short positions ever," Maley notes.

Saturday 25 February 2017

Ringgit Malaysia. Dolar Singapura. Perfect illusion

Is the current hit from Lady Gaga, taken from her latest album Joanne.

What's happening to the RINGGIT is no perfect illusion, it's worst than that.

It's hard core reality. Bloomberg has the story. Read below :

The Singapore dollar climbed to an all-time high against the Malaysian ringgit on Friday (Feb 24), helped by weakness in the US dollar and waning expectations that the Monetary Authority of Singapore (MAS) will ease policy in the near term.

The local currency hit an intraday record of 3.1687 ringgit about midday, before closing the Asian session at 3.1630, a 0.5 per cent gain on the day, showed Bloomberg data. It has risen 2.1 per cent against the Malaysian currency this year.

Thursday 23 February 2017

Jho Low. Taken In

Is the 2008 monster hit, by Mike and the Mechanics.
It seems, the US courts weren't taken in, by Jho Low's New Zealand court, pustach.
Jho Low is now on the verge of losing "his" American assets. Read the report below :

A U.S. federal court has dealt another blow to Low Taek Jho, better known as Jho Low, the AWOL Malaysian businessman who United States officials allege is at the center of 1MDB's billion-dollar corruption.

Jho Low has been fighting to prevent his stable of luxury assets being seized by U.S. officials.

These include a $107 million interest in EMI Music Publishing, a $30 million penthouse at Time Warner Center in New York and a $35 million Bombardier Jet, which was seized by Singapore earlier this month.

A federal judge in the U.S. has now given the green light for the Department of Justice (DoJ) and New York developer Steven Witkoff's proposed plan to sell the Park Lane Hotel, according to a report from the «The Wall Street Journal» (paywall). 

Jho Low is said to be a major stakeholder in the hotel located in Manhattan, New York.

Remove Jho Low

The «WSJ» reported U.S. District Court Judge Dale Fischer had approved the plan, which was part of a cooperation agreement between Witkoff and the U.S. government to stabilise the financially troubled property – as well as remove Low from the group that owns it.

A group of investors led by Witkoff, along with Low, purchased the hotel in 2013 from the estate of Leona Helmsley for $654 million. Low had provided most of the equity for the acquisition, according to the «WSJ».

Out of Sight

The DoJ alleged that Low had used some fraudulent proceeds to purchase his 55 percent stake in Park Lane Hotel.

The Malaysian businessman-financier dropped out of sight nearly two years ago, after the billion-dollar graft scandal surrounding Malaysian state fund 1MDB surfaced into the public domain.

Since then, two banks – Banca della Svizzera Italiana, or BSI, and Falcon Private Bank – have been sent packing from Singapore for laundering 1MDB money without question.

A handful more including UBS, DBS and Standard Chartered have been sanctioned, while Swiss authorities are also continuing their own probe. 

Wednesday 22 February 2017

CIMB versus Koon Yew Yin. Be The Man

Is the single released only in Japan, for a Japanese serial, recorded by Celine Dion for her 1997 album entitled let's talk about love.

Once again CIMB and legendary investor Koon Yew Yin, squares off. Last week at RM1.34, Cimb advised investors to sell JAKS Resources.

Koon apparently has bought more than five per cent of JAKS Resources. The stock is trading at RM1.38 a share now.

Only a fool will bet against Koon on JAKS Resources, as the ace investor furthers his reputation to be the man.

Tuesday 21 February 2017

Malaysia. Papa Don't Preach

Is the mega hit from Madonna's True Blue album.

In Malaysia, PAPA, might not be dishing out your favourite Pizza for long.

PAPA John, it seems are going to close down most of its outlets, because business is slow, largely due to rising unemployment and the GST.

Malaysia. T R O U B L E

Is the 1975 hit from the album today by the king himself Elvis Presley.

Today, going through the business pages in the newspaper, one has a sence Malaysia is facing real ECONOMIC TROUBLE.

For starters, Petronas Dagangan's full year revenue for year ended Dec 31 2016, fell almost RM4 billion to RM21.79 billion from RM25 billion.

IGB's net profit meanwhile fell by 14.4 per cent to RM43.99 million, while IPO properties profits fell by more than 10 per cent to RM273 million .

Monday 20 February 2017

EPF. Eight Billion Ringgit Man. Berkorban Apa Saja

Is the standout evergreen hit by P Ramlee.

EPF lost about RM8 billion, net in the stock market last year, the fund disclosed yesterday.

For most, Malaysians after countless forex losses, 1MDB, scandals, the thinking is that , kami dah tak peduli berkorban apa saja, asalkan ianya bukan uang simpanan EPF.

The scary part is, EPF is saying that even if stock market go up this year, it can only reduce the losses and not cover the hole!!!

China. Crude Oil. Million Reasons

Is the current top five US hit, that has just smashed its way into the charts from nowhere. The single is by Lady Gaga, taken from her latest studio album entitled Joanne.

There is a million reasons, why the Sheikh's should start worrying that their grip as the largest oil producers get thrown into the mud.

Latest figures show, that China is now the world's fifth largest oil producer.

Read below,  the story from Bloomberg, on who is number one and number three :

Russia overtook Saudi Arabia as the world’s largest crude producer in December, when both countries started restricting supplies ahead of agreed cuts with other global producers to curb the worst glut in decades.

Russia pumped 10.49 million barrels a day in December, down 29,000 barrels a day from November, while Saudi Arabia’s output declined to 10.46 million barrels a day from 10.72 million barrels a day in November, according to data published Monday on the website of the Joint Organisations Data Initiative in Riyadh.

The U.S. was the third-largest producer, at 8.8 million barrels a day in December compared with 8.9 million barrels a day in November, according to JODI.

Iraq came in fourth at 4.5 million barrels a day, followed by China at 3.98 million barrels a day, the data show.

Bernama. Ringgit Malaysia. When Will I Be Famous

Is the 1987, smash hit for Bros, taken from the album push.

The Bernama Business Editor and their very weak currency desk, must be asking themselves, with will the push come, for them to finally get a correct call.

Bernama told us, that this week, the RINGGIT will be trading on the 4.44 and 4.45 range against the dollar.

When will I be famous? Because the Ringgit is now 4.46 against the US Dollar.

North Korea. 50 Ways To Say Goodbye

Is a 2012 minor hit for the Train. Malaysia, I'am sure have more than 50 ways to say goodbye to North Korea.

We should stop taking shit from North Korea, and just cut off diplomatic relations, with this very weird nation state.

The Star has reasons why, we should waive goodbye to North Korea. Read below :

North Korea has accused Malaysia of colluding with South Korea and says that they "cannot trust" the Malaysian police investigation into the death of a "diplomatic passport holder of the DPRK (North Korea)".

In a strongly-worded statement, North Korea's ambassador to Malaysia Kang Chol  accused Malaysia of "unjust behaviour" and dismissed the police investigation, saying it was not to seek clarification on the cause of death but rather "out of political aim".

Sunday 19 February 2017

CIMB. Jaks Resources. Text From Your Ex

Is the current *IT* song by Tinie Tempah that is hot on the charts .

So what does it mean,  CIMB, Jak Resources and text from your ex? Well it means SELL the damn stock lah according to CIMB.

THe stock last traded at RM1.34

The Star Says : Women You Mafan. Rain Of The Scarecrow

Is the massive hit single by John Cougar Mellencamp from the award winning scarecrow album about economic hardship in RED America.

Without, spelling it, the Star says Women You Mafan (in basic Chinese translation, it means We Have Trouble).

Read below, the Star for Malaysia's version on rain of the scarecrow :

THERE is every reason to believe that the Malaysian economy will still be under pressure this year despite the acceleration in growth in the last quarter of 2016 and the expected improvement from the second half of this year.

At best, Malaysians can expect the economy to grow at the same pace as last year.

For one thing, sentiment on the stock exchange remains lacklustre, with the benchmark FBM KLCI still trading within a tight range.

A technical analyst tells StarBizWeek that the index is still “trapped” and not able to break out of the key resistance level of 1,730 points, in comparison with improving regional equity markets.

Investor sentiment is a good gauge because stock indices lead economic indicators such as gross domestic product (GDP) data by as much as six months. Another gauge in which to measure the economy is the ringgit, which remains under pressure despite the rebound in global oil prices and the wider current account surplus. Clearly investors are holding back. The Malaysian economy as measured by GDP has slowed down two years in a row.

Some argue that corporate earnings will improve this year after three consecutive years of falling profits largely because of rising commodity prices, which is traded in the strong US dollar and where a weak ringgit will translate to better foreign-exchange gains.

More support: Wiranto says private consumption will remain supported by labour market strength and fiscal support measures.

Will improving corporate earnings mean better sentiment on the ground? Perhaps, but it will be very gradual given that the Malaysian Institute of Economic Research’s (Mier) indices measuring consumer and business sentiments remain well below the 100-point threshold, indicating sentiments continue to be fragile. For the fourth quarter, the Mier’s consumer sentiments index fell to 69.8 while the business conditions index dropped to 81.2.

The Mier cites unfavourable finances, subdued wages, a flat job outlook and rising inflation as reasons why consumers are increasingly edgy. While these factors have not, so far, translated into a big drop in private consumption, many economists remain wary although Malaysian consumers have weathered the slowdown well.

They point to the high household debt as reasons for their caution. Consumers cannot continue to be the main pillar of support to the economy, at least not without seeing some gains trickling down from an improving economy. This is where higher wages come in but employers are not expected to be generous with wage increments or bonuses based on last year’s earnings.

Malaysia. What's Going On?

Is the 1972 classic by Marvin Gaye. The single was from the legend's 11th studio album.

Barisan Nasional won big time in the Sarawak by election on saturday, but Malsysian's are asking themselves What's Going On?

Why is it AEON are closing down three outlets this month? Why is it Mydin is running at a loss for the first time since 1957?
Why is it, AEON's credit business for consumer for people to buy cars are surging?
Why is it household debt are at a record?, The jobless rate are at a six year high?
While we support Barisan Nasional, it is time, Barisan Nasional supports US back, by giving life to the real economy.
Slap a  higher surcharge on foreigner workers sending more than US$100 to their hometowns, provide 100 per cent tax reliefs for companies that fully automate their factories, and for ALLAH's sake, reduce the GST man, it's choking the Economy!!!!

Saturday 18 February 2017

Bernama. Ringgit Malaysia. Loca People (What The Fuck)

Is a 2011 monster dance hit for Spanish DJ Sak Noel.

Bernama in its weekly outlook for the Ringgit, yet again for second week running quoting an UNNAMED DEALER (where is this dealer from? The Kedai arak outside or inside the press club?), says the Ringgit is going to be trading at RM4.44 and RM4.45 range.

We shall wait again to see if we have to say what the fuck to the very poorly assembled business desk at Bernama.

Meanwhile, while we were busy at work on Friday, something happened to the Ringgit and the Singapore Dollar. Read Below :

The Singapore dollar climbed to a new record high against the Malaysian ringgit on Friday afternoon (Feb 17), reaching as high as S$1 to RM3.1481, Bloomberg data showed.

The previous record - S$1 to RM3.1479 - was set on Jan 18 this year. It was toppled around 4.40pm. 

Oil Stocks. Pain

Is a 2006 minor hit for rockers Three Days Grace, taken from the album one -x.

When you talk about oil and gas stocks on Bursa Malaysia, the current X stock is Hibiscus Petroleum.

Looks like it's, going to be a month filled with PAIN for those who still believe in the Hibiscus dream.

Oilprice.com has the story. Read below :

Another week brings yet more signs that the highly-anticipated oil market “balance” will not occur in the immediate future. Heading into 2017, there was a broad consensus that global oil production would fall below demand in the first half of the year, a deficit that would help bring down inventories and lead to relative balance between supply and demand. Mid-2017 seemed to be the timeframe that everyone was looking at for this development to occur.

But there are growing signs that the oil market won’t reach balance by then, and perhaps not this year at all. “We don’t really see a real balancing of the market coming until much much later,” Richard Gorry of JBC Energy Asia told CNBC in an interview. “Right now the oil market is oversupplied by about 500,000 barrels per day in the first quarter. So to see inventories continue to go up is absolutely of no surprise to us.”

The EIA reported yet another massive build in crude oil inventories last week. Crude stocks surged by 9.5 million barrels for the week ending in February 10, taking total stocks up to 518 million barrels. That is a new record high, blowing past the record set last year at 512 million barrels. Oil inventories are higher than at any point since data collection began, dating back to the early 1980s.

Friday 17 February 2017

Citibank. Menghitung Hari

Is a smash hit for Krisdayanti, taken from the album sayang.

Sayang, Citibank mungkin tengah menghitung hari sahaja di Malaysia.

Just look through their website, and one gathers a mass scale layoff could well be in the offing.

Citibank, effective next month will be closing down it's Kuantan branch, while the Melaka, Penang, Cheras and USJ branches are being turned into self service branches, with no counter related transactions available.

This is a DIRE warning to the Malaysian economy.

Thursday 16 February 2017

CIMB. Bursa Malaysia. Leave Get Out

Is a 2004 mega hit for JoJo, taken from her self titled  debut album of the same name.

If the CIMB data on what happened to the market yesterday is accurate, then the signal the market is giving you is to leave, get out.

According to CIMB, LOCAL funds, retailers and foreign funds were all NET sellers yesterday.

Local funds and foreigners net sold RM32 .9 million and RM35.6 million of shares yesterday.. The retailers net sold just under RM3 million in the same day

GRAB. Going Down For Real

Is the 2016 monster hit for Flo Rida.

GRAB, the ride hailing app, yesterday launched GRAB share in Malaysia, which allows you to bring in one more passenger.

Normally from the Lrt station to my work place is RM5 but as of today, GRAB has changed the price to RM9 and RM6.50 for Grab share.

The normal taxi cost me only RM6. Grab is going down for real.

Bank Negara Malaysia. 3.80. R.I.P

Is the 2012 smash hit by Britain's Rita Ora and rapper Tinie Tempah.

For those of us, who had gone through Bank Negara Malaysia's review of 2016's fourth quarter GDP, the most telling statement from the central banker was that the RINGGIT has stabilised.

What this means is, you can say R.I.P to RM3.80 to the dollar or even RM4 to the dollar. The new normal is RM4.40 to the US dollar.

Tony Tiah. Donald Trump. My Father's Son

Is the 2013 hit for Pearl Jam, taken from the superstar alternative rock band's10th album, lightning bolt.

Tony Tiah, of TA Securities must be saying that his 37 year old son, is the father's son, as his son hits the global lime light like a lightning bolt, for being Donald Trump's partner.

Read below, the exclusive from the Financial Times :

Joo Kim Tiah, the son of one of Malaysia’s wealthiest tycoons, sat on stage in the summer of 2013 as his new business partner announced their plans for a C$360m luxury condominium-hotel project on Vancouver’s most prestigious downtown thoroughfare.

With characteristic salesmanship, Donald Trump bragged that the 63-storey glass tower on West Georgia Street would be “one of the great buildings, not only in Canada and the US but anywhere in the world”.

Mr Tiah, chief executive of Holborn Group, his family’s Canada-based property development company, was similarly effusive, saying the Trump International Hotel & Tower Vancouver would one day “become a new symbol” for the city.

For many residents of Vancouver, a proudly multicultural city with a thriving film industry and environmentally friendly vibe, Mr Tiah’s prediction has already come true.

Since his business partner’s election as US president in November, the shimmering tower has become an unwelcome symbol of the man whose name shines in large block letters on the front façade.

“The building comes to represent the worst in humankind with that name on it: bullying, sexism and intolerance,” said Kerry Jang, a city councillor.

He and other politicians in the city, including the mayor, have called for the Trump name to be removed from the building. Mr Tiah, the 37-year-old son of Malaysian property developer Tony Tiah Thee Kian, insists he will not remove the name.

“I am locked in with the contract,” he said in an interview with the Financial Times.

The Trump family is “aware I’m under pressure but what am I going to do? From a business standpoint they haven’t done anything wrong.”

Ringgit Malaysia. Rupiah Indonesia. Dalam Kenangan

Is a current hit for Krisdayanti, taken from the movie soundtrack, syurga Yang tak dirindukan.

Memang pun dalam kenangan diabadke 21 ini, tak pernah terjadi sebegini .

Kini satu ribu Ringgit cuma bisa membeli 2.991 juta Rupiah. Ringgit tak pernah jatuh sebegini teruk di kurun ini.

Mungkin ini lah, disifatkan sebagai "syurga yang tak dirindukan".

Wednesday 15 February 2017

Bernama. Ringgit Malaysia. Despacito

Is currently riding high, at number one on the Spanish charts. The single is by Luis Fonsi.

Despacito or desperado, both terms should fit in well with Bernama's joke of a business editor and business desk.

Bernama promised us, that this week the RINGGIT will only trade in range of RM4.43 and RM4.44.

Once again, they have got it WRONG, as the RINGGIT is now at 4.46 against the US Dollar.

Mieco Chipboard. Mama Said

Is a 2015 hit for Lukas Graham, taken from the album blue.

If you own Mieco Chipboard shares which are now trading at RM1.88 a share, you don't have to be feeling blue.

Because Mama Said in between six and eight trading days time, Mieco will be announcing a very strong set of results, that comes along with a comprehensive *dividend policy*.

Do expect Mieco Chipboard to trade above RM2 a share on Feb 28.

CIMB. KUB. Make It Rain

Is a 2015 hit for Ed Sheeran, taken from the album X.

In its daily report today. CIMB says the X stock for the day is KUB. The research house has placed a target of 61 Sen for the stock .

Is CIMB's word good enough on KUB, for this election stock to make it rain gold for punters???.

We shall soon find out, won't we!!!

Sheikh Versus Shale. Hibiscus Petroleum. Dive

Is the current chart topping hit by DJ Salvatore Ganacci, feautring Enya, on the Romanian chart.

Hibiscus shares, it seems could soon take a DIVE, as the market anticipates that it's results end of this month might not be so good after all.

The stock was last traded at 51.5 Sen, and has more bad news in store, as shale oil, gives the Sheikh's a kick on the ass.

Oil price.com has the story. Read below :

For the third week in a row the Energy Information Administration (EIA) has reported an increase in commercial crude oil inventories of 9.5 million barrels, to a total of 518.1 million barrels – exceeding the seasonal limit.

The report came a day after the API estimated commercial inventories had jumped by 9.94 million barrels.

The news is bound to cause worry among OPEC members who are being made painfully aware by U.S. shale boomers that the production cut agreement agreed to in November was a windfall for them – a windfall that they will make the best of while it lasts.

Though prices started the week on the rise, boosted by the latest positive update from OPEC, including the IEA praising the cartel for its 90-percent compliance rate, the API figures partially offset the rise and now the EIA figures might offset the rest

Felda. Eagle High. DRB Hicom. Bursa Malaysia. Chinaman. Market Making. Water Under The Bridge

Is the massive 2016 hit for Adele from her third studio album titled 25.

The 25 ringgit question here is , have our policy makers been watching how Geely Auto shares have been flying on the Hong Kong stock market, on speculation that it will buy 51 per cent of Proton from DRB Hicom?

Have, the requlators learned anything from FELDA's  purchase of a 30 per cent stake in Eagle High for 580 Rupiah.

In Indonesia, where market making is akin to having leprosy, just like in Malaysia, have seen Eagle High shares struggling  at 380 Rupiah.

Malaysia, and Indonesia also, have a lot of Chinaman, there fore it is time for the requlators here to forget heavy enforcement as water under the bridge, and put in motion steps to legalise market making.

Market making is already LEGAL in the USA and Hong Kong.

Geely Auto. Both Sides Of The Story

Is the 1993 hit single from Phil Collins, taken from the album both sides.

Geely Auto shares, hit a fresh all time high yesterday, when the stock closed at HK$11.08.

The talk in Kuala Lumpur is that Geely shares are going up because the Chinese company is going to buy a 51 per cent stake in Proton.

Considering how, Geely shares are closing at record highs at the close of each trading day, at this pace, Geely would have made enough money from the stock market itself, to fund the purchase of Proton Holdings.

But there are always two sides to a story. So here is the other side. So you can have both sides of the story .

There is a strong possibility, that Geely shares are going up, has got nothing to do with the possible tie up with DRB Hicom.

It could well be, that Geely shares are going up, because Geely will join the benchmark Hang Seng Index from March 6, replacing Hong Kong sourcing company Li & Fung.

Tuesday 14 February 2017

Killed At KLIA. Trigger

Is the dance hit by Gioni, which hit the charts sometime in 2015.

Who pulled the trigger, on the once second most powerful man in North Korea?

Read All Jazeera below to find out :

The estranged half-brother of North Korean leader Kim Jong-unhas been killed in Malaysia, South Korean media reported, with one TV station saying he was attacked at the country's main airport with poisoned needles.

Officials in South Korea and Malaysia on Tuesday could not confirm the death of Kim Jong-nam. Malaysian police said a North Korean had been taken sick at Kuala Lumpur International Airport and since died.

A senior security source told Al Jazeera that Malaysian police "strongly" believe the deceased individual was Kim Jong-nam.

OPINION: North Korea cements Kim Jong-un at the top

In a statement, Malaysian police said the 46-year-old dead man was travelling on a passport under the name Kim Chol.

"Kim Jong-nam has been known to travel using a fake name," Al Jazeera's Florence Looi, reporting from the airport in Kuala Lumpur, said.

Sheikh Versus Shale. Me Myself And I

Is a massive 2016 hit for rapper G-Eazy and the East European roots, lady with the sonic voice, the very refreshing Bebe Rexha.

OPEC seems to have really stuck to its production cuts, but the markets instead of giving the thumbs up to the Sheikh's, are instead saying that the wild bunch have disciplined themselves because they are DESPERATE.

With shale oil in the picture, the Sheikh's can no longer sing Me, Myself and I will determine the price of crude oil.

Moneyweek.com has the story. Read Below :

The oil price has been pretty well behaved so far this year.

Compared to the gyrations of 2014 and 2015, oil has taken it easy, meandering around $50 to $55 a barrel.

The global glut seems to be drying up slowly, and prices have been on the recovery path.

But will the period of calm last? Don’t bet on it…

Opec must be desperate – it’s actually sticking to its plans

In November, oil cartel Opec cracked. Led by Saudi Arabia, it decided to cut crude production by around 1.2 million barrels a day starting this year. And – very unusually – it so far seems to be sticking to it.

As the Financial Times reports, it looks as though production in January fell by 1.1 million barrels a day. “This implies more than 90% compliance in the first month of the six-month deal to tackle excess inventories.”

If (and it’s a big if), it manages to stick to this, then there will “no longer be an oil surplus in the second half of the year”, according to Opec. Combine that with higher-than-expected global demand, and you have pretty healthy prospects for the oil price, on the face of it.

This isn’t just Opec marking its own homework. The International Energy Agency came to a similar conclusion last week. The cuts made by Opec have been among “the deepest in the history of Opec output cut initiatives”.

It seems that Saudi Arabia in particular has grown desperate enough to give the oil market a sharp kick in the backside. The big question for the Saudis (and the rest of us) is: what will it actually mean for oil prices?

In short: it’s not going to be easy to keep them riding high.

No more boom and bust? Famous last words

Energy consultant Robert McNally made an interesting point earlier this month in the FT. He notes that almost ever since oil became an important commodity, there have been efforts to control production with the goal of minimising the “boom and bust” nature of the market.

From the Standard Oil Trust, to quotas on American producers from the 1930s to the 1970s, to Opec, “governments and producers… sought to control how much oil gushed from the ground”. Some groups were more successful than others, and some time periods were more stable than others.

But right now there is no “swing producer” – no individual group that has enough clout to even attempt to control the price. Opec screwed up, basically – during the 2000s boom, the oil price went high enough to encourage the exploitation of US shale oil.

Once shale got over the initial hurdles, producers managed to get it out of the ground successfully, and began working on ways to make the process more efficient.

So now Opec isn’t the sole big player anymore. You have the shale producers too. And they are able to move much more quickly than traditional oil market players.

As David Wech of JBC Energy tells the FT: “Opec can tighten the market, but we’ve always doubted they would be permanently able to shift the market balance. The US shale industry has been a game changer because it can respond to price signals in less than a year.”

Ringgit Malaysia. We Came To Bang

Is a December 2016 club hit for DJ 3Lau feautring Luciana.

Ringgit Malaysia is now 4.45 against the US Dollar, but news from America, overnight, is once again showing the clearest intentions of the US government on their dollar policy.

Consensus are, that the message is clear : We Came To Bang!!!. CNBC has the story. Read below :

Fed Chair Janet Yellen said in prepared remarks that waiting too long to raise interest rates would be "unwise," given the rise in inflation and economic growth.

"It was expected of her to be a little hawkish," said Adam Sarhan, CEO of 50 Park Investments. "From her perspective, the stock market is at all-time highs and the economic data is improving, so it's very prudent for her to be hawkish."

Geely Auto. CIMB China. Pesta

Is a current hit for Indonesia's very talented Isyana Sarasvati, taken from her 2015 album Explore, which is still selling like hot cakes.

In Hong Kong, Geely Auto shares closed yesterday at an all time high of HK$10.98 a share, breaking a CIMB China target of HK$10.24 a share, set in early February.

Saham Geely berPESTA, di Bursa Hang Seng, ekoran spekulasi yang syarikat gergasi China itu akan membeli 51 peratus Proton Holdings dari DRB Hicom.

Di Malaysia pulak, pelabur masih lagi meng EXPLORE, ke mungkinan harga saham DRB Hicom akan melonjak naik, jika benar, DRB Hicom mampu membereskan, penjualan Proton itu, kepada Geely.

Put it simply, DRB Hicom shares MUST test or come very close to test its first major resistance, the RM1.50 mark THIS WEEK, if the market is to believe, that after all the hype, it's finally GAME ON.

Monday 13 February 2017

Load and reload. DRB HIcom. China In Your Hand

Is the massive hit from the 1990's for Britain's  T'Pau.

DRB Hicom's offer for sale of a 51 Per cent of Proton closes tomorrow.

The DRB Hicom board is expected to meet on MARCH to decide on the winner.

Which means this stock will run all the way to RM2.20. And expect at the end of day a China in your hand, Proton Holdings Bhd.

S&P500. 20 Trillion. US Dollar. Gold

Is currently riding high on the Romanian top 20 hit single. The record is a massive one by Kiiara.

The S&P 500 hit GOLD overnight when it's market capitalisation hit US$20 Trillion for the first time in history.

The US equities are at a record, the US$ dollar is at a three week high, on Donald Trump's tax cut plans.

All this is bad news for the Ringgit. Expect the Ringgit to come under big pressure this week.

CNBC has the story on S&P 20 trillion. Read below :

U.S. stocks climbed to new record highs Monday as investors remained bullish on President Donald Trump's economic agenda.

"The market is going on the optimism of the Trump tax plan that will be announced soon," said Robert Pavlik, chief market strategist at Boston Private Wealth. "This is very good news for the market."

The Dow Jones industrial average rose about 140 points, with Goldman Sachs contributing the most gains, to post its 22nd record close since Nov. 8. The S&P 500 gained 0.5 percent, with financials rising more than 1 percent to lead advancers, to notch its 14th record close since the U.S. election.

S&P also reached $20 trillion in market cap for the first time ever. It needed to break above 2,324.22 to reach the milestone, according to data from Howard Silverblatt, senior Index analyst at S&P Dow Jones Indices.

"The SPX extended its uptrend to a new all-time high last week, resolving another consolidation phase to the upside," said Katie Stockton, chief technical strategist at BTIG, in a note. She added that "short-term overbought conditions are not likely to be a near-term hindrance, particularly given the widespread breakouts that have occurred."

Sheikh Versus Shale. Bow Down Mister

Is the 1991 monster hit from Boy George, the former front man of the Culture Club .

It's Bow Down Mister, all right for the Sheikh's , as OPEC finally admits that it's production cuts is not working as planned, to help boost prices, because shale oil producers have stepped up production to take advantage of the higher prices .

CNBC has the story. Read Below :

Oil prices fell on Monday in response to growing evidence that U.S. production is rising, even as official OPEC production figures showed record-setting initial compliance with its landmark production reduction deal.

Global benchmark Brent crude futures were down $1.01, or 1.8 percent, at $55.69 a barrel by 10:23 a.m. ET (1523 GMT), near the low of the session.

West Texas Intermediate (WTI) crude futures were down 82 cents, or 1.5 percent, at $53.04 a barrel, also near its lowest level for the day.

"The good compliance rate of OPEC seems to be priced in. The U.S. rig count from Friday is weighing, the numbers support the shale comeback story," said Frank Klumpp, oil analyst at Stuttgart-based Landesbank Baden-Wuerttemberg.

U.S. oil drillers over the past month have added the most drilling rigs since 2012, bringing the total count to 591 rigs, the highest since October 2015, Baker Hughes said in its weekly report.

DRB Hicom. Bursa Malaysia. Dunia Ke Tiga.

Do expect DRB HIcom shares to keep  moving up today.

Eventhough it's getting no help from the requlator, Bursa Malaysia. Look at the filing below.

Did EPF buy or sell two million shares? On one column you have EPF acquiring two million shares, but right below it, the same statement says that it's a disposal.

By most accurate accounts, this should actually be a purchase by EPF,. But Bursa Malaysia has become such a "TIDAK APA" institution, that it's been nearly 24 hours and still got NO correction.

Really THIRD WORLD mentality.!!!!

Sunday 12 February 2017

Bernama. Ringgit Malaysia. Congratulations.

Is a current top 20 hit for Post Malone feautring Quavo, taken from the album stoney .

Congratulations, Bernama, YOU TOLD Us that this week, the Ringgit will be trading between 4.44 and 4.43 against the US Dollar.

Bernama, the Ringgit is now trading at 4.45 against the US Dollar. Perhaps if your business editor doesn't feel STONEY from his session at Press Club, once in a blue moon, you might learn to piss straight , instead of pissing on your pants EVERYTIME.

DRB Hicom. Just Hold On

Is among the hottest dance hit on the UK Top Ten this week. The record is by Steve Aoki and Louis Tomlinson.

DRB Hicom looks poised to deny a 51 per cent stake sale to China's Geely Auto.

The denial doesn't mean, the deal is NOT going to take place. So if you have DRB Hicom shares, then just hold on.

The crux of the denial is due to a technicality, as the bids for Proton only closes on February 15, meaning no winner can be announced before that.

That being said, this doesn't take off any shine from DRB Hicom as THE stock of FEBRUARY 2017.

Jho Low. J- Mafia

Is a current top ten hit on the Russian charts by Effective Radio.

The J-Mafia, or better known as Jho Low, having dragged Malaysia's name to the sewers, now looks to have another country in sight.

It's not China YET. The Washington Post has the story, on how the J-Mafia is making life very difficult for New Zealand politicians. Read Below :

1MDB-linked Malaysian financier Jho Low's private jet shines light on New Zealand's murky trusts

(WASHINGTON POST) - A flamboyant Malaysian financier linked to an international money-laundering probe has laid bare New Zealand's surprising appeal as a destination for the ultra-rich to park their wealth.

Family members of Low Taek Jho, who is suspected by US officials of diverting money from Malaysia's state investment fund 1Malaysia Development Bhd (1MDB), are beneficiaries of New Zealand trusts holding US$265 million in assets including a Bombardier jet, a luxury Beverley Hills hotel and a penthouse in the Time Warner Centre in Manhattan, according to court documents.

The family is fighting the US Justice Department's bid to seize the assets. Jho Low has said he provided consulting to 1MDB that didn't break any laws.

The case has shone a spotlight on a multi-billion dollar trust industry in New Zealand that allows foreigners to hold assets with minimal disclosure.

While Prime Minister Bill English's government has committed to tighten rules around trusts and legislation is before parliament, the opposition wants it to do more to safeguard the image of a nation that tops global transparency rankings.

The opposition Labour party is calling for a public register of assets and their beneficiaries, which could lead to an exodus from the industry as the mega wealthy seek to protect their privacy.

"The government's ongoing complacency risks seeing our reputation damaged," Grant Robertson, Labour's finance spokesman, said by email.

Mossack Fonseca. (Panama Papers) . I Got You

Is currently flying high on the charts from the one and only, the lady with the sonic voice, Bebe Rexha, taken from the album all your fault.

Many people are going to be screaming to their accountants, lawyers and partners, that it's all your fault, now that the Panama police have sung : I got you to the infamous PANAMA PAPER lawyers.

The Associated Press has the story. Read below :

Panama Arrests Partners in Mossack-Fonseca Firm

Panama City (AP) -- Prosecutors in Panama say they've formally arrested the partners of a law firm involved in last year's "Panama Papers" scandal, in which thousands of pages of documents related to offshore accounts were leaked.

The arrests announced Saturday are related to another scandal involving bribes paid by the Brazilian company Odebrecht.

Ramon Fonseca Mora and Jurgen Mossack are partners at the Mossack-Fonseca firm. Officials pulled them in for questioning on Thursday and formally detained them following two days of interrogations.

DRB Hicom. Geely Auto. Money Made Me Do It

Is the massive hit for hip hop kings Post Malone and 2Chainz.

Geeky Auto shares closed on Friday in Hong Kong at HK$10.08 a share , a RECORD HIGH on talks that the Chinese automaker has won a bid to take 51 per cent of Proton from the hands of DRB Hicom.

For DRB Hicom the rationale for selling a controlling stake in Proton would be because "Money made me do it".

Regardless of the motivation expect DRB Hicom 'share price to have the same vigour as Geeky Auto's.

DRB Hicom. The A Team

Is the monster 2011 hit for English song writer Ed Sheeran. It was his debut hit single which topped the charts world wide.

It looks like DRB Hicom has found The A Team to take over a 51 per cent stake in Proton Holdings.

The buyer is none other than China's Geely Automobile Holdings.

DRB Hicom shares were last traded at RM1.26 a share.

The share signing agreement details, it is said are being finalised. Expect DRB HIcom shares to be Bursa Malaysia's new A Team stock, all the way to RM2.20 a share.