Monday, September 7, 2015

World wide futures trading hours

Generally the active future trading hours are hard to find, but I've condensed the active trading hours into a simple list with the length of each trading session.


Hong Kong Index futures:  9:15 am - 12:00 PM, 1:00 PM - 4:15 pm SGT (6 hours)
Nikkei:  8:45 am - 3:15 pm (7:45 am - 2:15 pm SGT) (6.5 hours)
KOSPI:  8:00 am - 2:00 pm SGT  (6 hours)
Taiwan:  8:45 am - 1:45 pm SGT (5 hours)
Singapore:  8:30 am - 5:00 pm SGT (8.5 hours)
FKLI Malaysia:  8:45 am - 5:15 pm SGT (8.5 hours)
FCPO M'sia:  10:30 am - 12:30 pm, 3:00 pm - 6:00 pm SGT (5 hours)


Ftse 100 futures:  9:00 am - 5:30 pm (3 pm - 11:30 pm SGT) (8.5 hours)
DAX Index Futures:  9:00 am - 5:30 pm  (3 pm - 11:30 pm SGT) (8.5 hours)
German Bund  Futures: 8:00 am - 6:00pm (2:00 pm - 12:00 am SGT) (10 hours)

US: (US eastern time zone)

S&P500 mini:  9:30 am - 4:15 pm (6.75 hours)
Crude oil:  9am - 2:30 PM (5.5 hours)
Gold:  8:20 am - 1:30 PM (5.2 hours)
Agricultural corn, soybean, wheat:  9:30 AM  - 1:15 pm (3.75 hours)

Wednesday, August 12, 2015

Looks like 1.5 million more workers coming to our shores

From the Malaysia Insider

The plan to bring in some 1.5 million workers from Bangladesh to Malaysia in stages over three years contradicts objectives in the 11th Malaysia Plan (11MP) to reduce dependency on low-skilled foreign labour, the country's umbrella body of trade unions said.
Malaysian Trades Union Congress (MTUC) secretary-general N. Gopal Kishnam said reliance on foreign workers would not help Malaysia achieve developed nation status by 2020 if locals were left wanting for jobs and better wages.
"I am not in agreement with the government's proposal to bring in 1.5 million (workers from Bangladesh). This is as big as the population in Kelantan. I don't see the reason why we have to do this when we already have so many illegal immigrants," he added.
"Local workers have no hope to find jobs as employers like to hire those they can pay cheaply," he told The Malaysian Insider.
"This always happens and Malaysia will not achieve developed nation status by 2020 where one of the goals is to raise workers' salaries," Gopal added.
In June, Home Minister Datuk Seri Ahmad Zahid Hamidi said 1.5 million workers from Bangladesh will be brought to Malaysia to meet the demands of employers from various sectors, especially those that involve "dirty, dangerous and difficult" work.
He said the government had no choice but to do so as Malaysian workers were "choosy" with jobs.
But MTUC fears that reliance on foreign labour would not help push up wages, which have been largely stagnant or seen only marginal growth for working class jobs.
Gopal added that statistics from the Employees' Provident Fund (EPF) showed that more than 40% of local workers earned less than RM2,000 per month.
- See more at:
 It looks like Malaysia's growth isn't over yet.  The ability to get low cost labor to feed the large construction projects is extremely ambitious and the only saving factor for the Najib administration.  This is a huge factor to prop up the economy.  It's probably also the only thing he can do as there is no other choice for growth.

1.5 million workers will certainly add a ton of growth to GDP and keep it trucking despite a major slowdown.

All these workers will buy cellphones to call home, use foreign remittance services, buy necessities, and take up unused housing spaces.  They will aso contribute to the revenues of the country and tax collection as they buy necessities of life through GST.

Three cheers for keeping the economy trucking!

Monday, August 10, 2015

Tenaga by far the biggest loser of the current market down turn

From the Edge:

KUALA LUMPUR (Aug 10): Tenaga Nasional Bhd ( Financial Dashboard)'s (TNB) shares continued to decline for the third straight day, dipping as much as 4.6% in early trading, in line with the weak broader market.
As at 3.20pm, the stock shed 46 sen or 4.04% to RM10.94. A total of 8.01 million shares were traded. It hit an intraday low of RM10.88, emerging as one of the top decliners on Bursa Malaysia today.
Last Thursday, the stock posted its largest decline in a year, dropping 4.42% as the political ramifications around the 1Malaysia Development Bhd (1MDB) saga weighed down on the stock.
TNB shares have lost 13.9% since mid-July, when the national utility announced its non-binding proposal to acquire 1MDB’s remaining power assets, raising bailout concerns.

It seems the market has more or less decided that Tenaga is in trouble.  I wonder what kind of rumors are going around for this stock.

What kind offer has it bid for 1MDB assets?

If you ask me, it is buy on the news of the asset purchase when it comes out.  Especially if the stock the assets purchased are reasonably priced.  If they bid 15 billion for the assets or below, I'd be a buyer of Tenaga.

People have to keep in mind.  Energy prices are quite low, and the country has a huge population which will keep demand robust even after a decline in output due to GST.  Excess capacity is not the problem which if it was, I would be a seller of Tenaga.

Friday, July 31, 2015

Top buy and forget dividend picks today


1.  Safest, from the economy and government change:  IGBREIT and KLCCP
2.  Next safest from economy, but not government change:  Magnum, Berjaya Sports 
3.  Moderately safe:  Maxis, Carlsberg, BAT


With the top 100 largest Market cap list, what can a conservative investor buy today?    Here are shares with dividends over 4.5%

Any of the following are what I consider potential buys with a dividend better than the Fixed Deposit of 3.5-4%  A lot of banks are trying to attract capital giving very attractive rates.

But, which of these few can really stand the test of time?

ROE LFI ROE LFY Dividend yield
YTL 18.68  bil 6.7 11.3 7.79
MAGNUM 4.2  bil 14.8 10.4 7.58
BJTOTO 4.958  bil 45 55 6.55
IGBREIT 4.51  bil 7.5 8.7 6.39
YTLPOWR 11.85  bil 0.9 11 6.37
UOADEV 3.06  bil 11.28 12 6.3
MAYBANK 88.59  bil 12.56 13.57 6.06
BIMB 6.4  bil 17.4 18.5 5.67
CARLSBG 3.42  bil 56 72 5.67
SUNREIT 4.54  bil 6.18 11 5.62
MBSB 7  bil 10.5 29.5 5.3
MAXIS 50.1  bil 41.45 32.05 5.25
GASMSIA 4.48  bil 11.4 16.6 5.18
AMBANK 20.28  bil 14.7 13.9 5.16
PAVREIT 4.43  bil 6.4 13.9 5.14
BAT 19.96  bil 159 174 4.76
KLCC 12.005  bil 5.95 7.91 4.75
HAPSENG 9.46  bil 11 20 4.65

No doubt most of these companies are doing alright.  Most have ROE last year in double digits.    If you ask me, the best two shares to buy right now is likely KLCC and IGBREIT.  These two give great dividends, but their ROE is on the low side.

KLCC is the ultimate city centre shopping centre and has massive influxes of tourists every year, not at all dependent on the whims and moves of the local economy, while Midvalley is the ultimate shopping centre for Malaysians.  It is centrally located between Petaling Jaya, KL, and Cheras.  

The shopping mall is forever full and even when GST rolled around, Midvalley was just business as usual.  

I tend to doubt Pavillion REIT as a stalwart when times get bad.  It's a great shopping center, but people will prefer KLCC.  

Next out of all the shares, I tend to like Maxis and Carlsberg.  These two will likely be around as Malaysians need to make phone calls and drink beer, no matter how the economy is doing. 

As long as BN is in government, the only untouchables are likely the REITs.  All the other companies have problems from commodity cycles to banks, to property.  If it's not that, the gaming companies Magnum and BJ Toto is dependent on gaming policy.  The gaming companies are great, but every election, it's the same problem.  Banks are alright, but they are susceptible to interest rate policy and are extremely leveraged.  

Of the two shares, Maxis and Carlsberg, I believe Maxis has the greater policy risk should a government change take place.  As of now, an oligopoly exists in the telecommunication space and they are making profits and costs of calls aren't coming down as fast as one would think.  An opposition led government might look at this particular industry to liberalize.

Alcohol products are taxed extremely high already, so it is doubtful that a new government would raise taxes.  Carlsberg should be the safer bet.

The fate of number forecast operators would be hardest to predict if a new government change were to take place.  No one knows what an opposition led government would do.  But in the event the government does not change hands, they are safer than Carlsberg and Maxis, in that the companies are money churners and carry very little inventory and overhead risk.

To recap: 

1.  Safest, from the economic cycles and government change:  IGBREIT and KLCCP
2.  Next safest from the economic cycles, but not government change:  Magnum, Berjaya Sports 
3.  Moderately safe:  Maxis, Carlsberg, BAT

Thursday, July 30, 2015

Top 100 Malaysian market cap companies with dividends and ROE

I did a post regarding the top market cap companies in Malaysia some time ago.  Now, I will add on to that huge list with some financial statistics.  I pulled most of the information off Reuters.  Take note that I have not made the list current, so Market cap values are all wrong.

I have added ROE and dividends to the list.  We all want to know whether a company pays dividends (hopefully above the current FD rate) and/or has the profits to support those dividends in a higher trajectory.

ROE is not an infallible financial ratio.  It moves a lot with company acquisitions and assets sales at a profit.  It's just a tool to help you zoom in on potential suitors.  Also debt plays a huge role in ROE calculation and is much better measurement of strength of a company when it has few debts.

LFI is the last financial report ROE and ROE LFY is the last financial year.

I present the Top 100 Malaysian market cap companies with dividends and ROE list:

ROE LFI ROE LFY Dividend yield
MAYBANK 88.59  bil 12.56 13.57 6.06
TENAGA 73.7  bil 18.7 16.51 2.37
PBBANK 72  bil 16.75 18.65 2.88
AXIATA 60.7  bil 11.04 11.64 3.49
SIME 57  bil 5.46 11.18 4.23
CIMB 51.46  bil 6.14 9.19 2.61
MAXIS 50.1  bil 41.45 32.05 5.25
PCHEM 48  bil 10.66 11.09 2.51
DIGI 45.8  bil 310 301 4.75
PETGAS 43.3  bil 16.99 17.72 2.27
IHH 40.6  bil 3.5 4 0.5
GENTING 35.2  bil 7.39 4.68 0.49
IOICORP 30.669  bil -14.35 12.64 3.92
MISC 30.6  bil 6.8 8.4 1.32
HLBANK 26.9  bil 13.48 15.25 3.04
TM 25.45  bil 6.76 11.31 3.5
GENM 25  bil 8.65 7.48 1.54
KLK 23.4  bil 10.7 12.96 2.55
RHBCAP 22.4  bil 9.98 11.47 0.83
SKPETRO 21.2  bil 8.68 12.92 0.85
AMBANK 20.28  bil 14.7 13.9 5.16
BAT 19.96  bil 159 174 4.76
PETDAG 19.4  bil 17.38 10.51 1.84
YTL 18.68  bil 6.7 11.3 7.79

HLFG 18.57  bil 11.8 15.8 2.5
PPB 17  bil 5.4 5.65 1.52
ASTRO 16.9  bil 97 79 3.9
NESTLE 15.9  bil 86 69 3.26
UMW 13.62  bil 10 10 4.12
FGV 12.7  bil 0.3 5.42 6
KLCC 12.005  bil 5.95 7.91 4.75
YTLPOWR 11.85  bil 0.9 11 6.37
GAMUDA 11.62  bil 10.6 13.9 2.5
WPRTS 10.2  bil 28 30 2.81
AIRPORT 10.18  bil 0.89 12 0.92
IJM 9.78  bil 5.1 6.34 2.23
ARMADA 9.5  bil 4.2 3.96 1.52
HAPSENG 9.46  bil 11 20 4.65
SPSETIA 8.6  bil 13.4 6.79 3.12
LAFMSIA 8.488  bil 9.4 8 3.59
UEMS 8.485  bil 3.35 7.77 3
IOIPG 8.29  bil 3.5 8 0
BKAWAN 7.969  bil 9.8 11 3.31
GENP 7.8  bil 5.39 10.3 0.72
MMCCORP 7.7  bil 2.27 6.7 1.56
AFG 7.4  bil 8.48 12.26 3.63
UMWOG 7.37  bil 10 10 4.1
MBSB 7  bil 10.5 29.5 5.3
AIRASIA 6.67  bil 12.9 1.7 2.21

BIMB 6.4  bil 17.4 18.5 5.67
AFFIN 6.35  bil 1.5 8.45 5.84
SUNWAY 5.925  bil 9.7 13.03 3.14
F&N 5.82  bil 15.9 15.5 3.07
HARTA 5.49  bil 17.8 18.97 1.5
UTDPLT 5.41  bil 11.38 12.88 1.49
IJMLAND 5.3  bil 0
BSTEAD 5.24  bil 0 7.35 5.85
AEON 5.07  bil 1.6 3.6 1.38
BJTOTO 4.958  bil 45 55 6.55
ORIENT 4.59  bil 4.3 6.7 1.66
SUNREIT 4.54  bil 6.18 11 5.62
KULIM 4.53  bil 3.7 1.2 3.85
IGBREIT 4.51  bil 7.5 8.7 6.39
GASMSIA 4.48  bil 11.4 16.6 5.18
PAVREIT 4.43  bil 6.4 13.9 5.14
CMSB 4.37  bil 12.5 12.7 1.46
MAS 4.34  bil
DRBHICOM 4.31  bil 4.7 4 4.26
BURSA 4.24  bil 26 25 4.27
MAGNUM 4.2  bil 14.8 10.4 7.58
QL 4.17  bil 16.6 14.7 1.03
BJLAND 4.15  bil -32 -7 1.43
KPJ 4.029  bil 10.4 12.2 1.8
IGB 3.91  bil 6.1 5 3.57

LPI 3.89  bil 20.9 17.3 4.02
MHB 3.84  bil 5.45 4.96 0
GAB 3.7  bil 42.4 54.8 4.5
MAHSING 3.48  bil 13.6 16 4.33
MSM 3.44  bil 14.39 13.5 4.78
CARLSBG 3.42  bil 56 72 5.67
HLCAP 3.4  bil 10.9 22 1.47
BIPORT 3.2  bil 12.6 13 3.53
TOPGLOV 3.1  bil 19.8 13.2 2.23
TSH 3.1  bil 2.1 11 1.11
SHANG 3.09  bil 10.6 8 1.9
UOADEV 3.06  bil 11.28 12 6.3
E&O 2.989  bil 26 9 1.52
DLADY 2.951  bil 41 63 2.14
KOSSAN 2.92  bil 21.9 19 1.07
YINSON 2.89  bil 2.89 24 0.49
TCHONG 2.87  bil 3.82 3.87 2.17
TIMECOM 2.819  bil 9.5 8 0.82
PARKSON 2.8  bil 0.4 5.2 0
IJMPLNT 2.757  bil 2.5 6 1.04
MRCB 2.69  bil 44.4 7.4 2.29
POS 2.685  bil 7.1 11.78 3.39
DAYANG 2.657  bil 14.2 22 3.41

Wednesday, July 29, 2015

Najib plan might work, but not without costs

From the Malaysian Insider:

The PAS deputy president, in a statement today pointed out that Najib was following the tactics of former prime minister Tun Dr Mahathir Mohamad closely when he boldly removed his deputy Tan Sri Muhyiddin Yassin.
Tuan Ibrahim, who also called the new line-up a pro-1MDB Cabinet, warned Najib that the scenario now was different than in Dr Mahathir's time due to the existence of online social media.
He said that during Dr Mahathir’s era, there were also various financial scandals such as the RM30 billion loss in foreign exchange trading in 1992, Perwaja Steel and Malaysia Airlines (MAS), but managed to stay in power for 22 years.
“Let us not fall for drama put together to divert our attention from 1MDB. The new Cabinet is a pro-1MDB Cabinet. Whatever it is, PAS will continue to fight Umno and its tyranny against the people,” he said.
- See more at:
 Najib seems to have learnt well from Ex-PM Mahathir in terms of consolidating power, but Mahathir can follow through with his consolidation on power.  When he consolidated, he enacted bold monetary reforms which stemmed capital outflows.  Mahathir kept GDP growth rate at a blistering pace.

Najib, I doubt has this tenacity.  In the next 2-3 years what will he do to change public perception?  I'm not sure it is possible.  He knows Dr. M's tactics well, but his personality does not jive with the tactics.  Mahathir is electrifying when it comes to action, Najib is not.

However, Najib will probably stay in power unless something drastic happens like 1 million people taking to the streets.  He has delayed elections, both UMNO and the General Elections, and his cabinet actions may be enough to delay or cover up investigations into scandals uncovered by the press.

His tactics might work for now, but people will remember.  No one can forget GST especially.  He can survive, but so far people haven't seen he is capable.  The way Najib conducts himself, he must be waiting for a magical fairy to appear and save Malaysia.

What are the costs?  Lost time for BN to get itself back on the right track.  The next general election odds for BN failing has gone up.

Tuesday, July 28, 2015

I love the Edge newspaper but....

Unfortunately, the print edition of the Edge is no longer available due to the government putting a ban on the publication.  I, as a user is forced to use the website which has a lot of information, but just isn't for me.

The website is what I would call a disaster.  I'll outline the major problems with the site:

1.  Too cluttered with information.  I don't know what is important, what is not, what is international news, what is Malaysian news.  Some news has to do with commodities.  Some are unrelated.  Even the star business section does a better job of delivering relevant news items to the reader.  It feels like a site that just spams articles out.

2.  It's best part "In our Print Edition", near the bottom of the home page is updated too infrequently.  I actually wish this part was the main section, but alas, this is just a section that gets stepped on by the spam of unending, irrelevant news at the main section.  It gets updated by like 1-2 articles a day.  They should put more important news here.

3.  The news in the Market and corporate is another disaster.  These sections have all sorts of news.  some if it is useful, some aren't.  Some broker reports should be in a separate section as it isn't market or corporate news.  These two sections are just awful.  If it is an important broker report, please put it in an "important news section"

You could probably cut a lot of stuff out of the front of the website like personal wealth, opinion, news from our partners.  Honestly, I feel the site spams too much information.  I want relevant information like what was printed in the edge daily.

I find it hard to believe that this crappy model of the website could exist for so long.  It takes something like a ban of its printed publications to put the website in the spot light.  

Monday, July 27, 2015

Bersih rally coming soon?

From the Malay Mail:

KUALA LUMPUR, July 6 — Bersih 2.0 will take to the streets and organise its fourth mass rally if Prime Minister Datuk Seri Najib Razak does not adequately address the allegations of embezzlement against him in the Wall Street Journal (WSJ), group chairman Maria Chin Abdullah said today.
The activist added that Najib must also immediately take a leave of absence from all his government positions to allow investigators to trace the trail of billions of ringgit allegedly wired from 1Malaysia Development Berhad (1MDB) into the prime minister’s personal bank accounts.
“Najib must reveal to the public the details of his bank accounts and explain whether the AmBank accounts under his name exist. If they do, then show the transaction details of that day,” news portal the Malaysian Insider quoted Maria as saying today.
- See more at:
The latest Anti GST rally called by Bersih only rallied around 10,000 Malaysians.  It can be considered a failure as Bersih 2.0 brought in 100,000 people on the streets.

 It's roughly ten days to go until the next Bersih rally will be likely called.  With nothing of significance really being done regarding answering the 1MDB allegations, time is running out for the government.  GST is a whole different animal compared to the 1MDB allegations.  I expect that the turnout will be significantly larger.

Bersih is so far the only major event so far that the government is extremely scared of and will likely heed notice.

Monday, July 20, 2015

Tenaga to bid for all the power assets of 1MDB

From the Edge:

Maintain add with an unchanged target price (TP) of RM15.27: TNB and several local and foreign companies have separately submitted non-binding offers to acquire 1Malaysia Development Bhd’s (1MDB) power assets.
Crucial information, such as the proposed acquisition price and earnings impact, was not disclosed. However, TNB believes that 1MDB’s assets are strong fits for its growth strategy, and stressed that any transaction needs to be value accretive. 
We believe the proposed acquisition, if it proceeds, will likely be neutral to slightly negative to TNB’s valuation in the near term. The acquisition could be negative because 1MDB acquired its power assets for RM18 billion (includes RM6 billion inherited debt) but has since written down about RM1.18 billion of acquisition-related goodwill. 
The transaction could be perceived negatively if TNB’s bidding price implies an enterprise value of more than RM16.82 billion. We think it will have a neutral impact if TNB pays a fair price for the assets. 
 Here is what I don't exactly like about the plan.  Call me skeptical but why is 1MDB insistent that it has many suitors for the power assets, yet it most probably would choose Tenaga.  It looks like a scene from a bad drama.

In the interest of investors and the general public, it would be good for 1MDB not to sell these assets to Tenaga, especially at this price.  No one knows how much the other bidders are paying or if these bidders are fake bidders, knowing the end game will be to sell to Tenaga.  It is stated in the press that many of these power assets were bought at high prices compared to what they would be worth on the open market.

There is a reason why 1MDB cannot IPO these assets.  Since the reasons are not divulged, one possible reason is that the IPO price is way below what the assets are worth on the balance sheet.  The loss would be too much for 1MDB to bear politically and much easier to dump it on Tenaga as they would carry it as a asset on their balance sheet.  If there is a write down, it won't come till long after.

Think twice Tenaga.  Make a smart bid buy taking into account how much they were worth when 1MDB purchased the assets, not how much they bought the assets for.

Thursday, July 16, 2015

{ MarketInOut }

Note:  If you are going to purchase MarketInOut, email me before at .  Very important!  You will not regret it. I'll let you know more in email.  Even if you really want to purchase, email me anyway, I can help.

I'm going to talk about MarketInOut.  This is a software that I found personally useful and I sense an opportunity to get this site known out there.

How did I come across the site?  I was actually looking for software which could do relative strength as this indicator is a bit difficult to find in most conventional free technical charts.  It took a bit of thinking, but I bit the bullet and subscribed for a year.

Why pay mutual funds the 1-2% management fee, when you can probably select stocks yourself with a little bit of help from a stock screening software like MarketInOut.  

I'll give you a little tip,  Just find a good dividend yielding stock (+5%) also good ROE (12% or more) with a decent market cap and just sit and wait.    Of course you will be smart enough to choose those companies that are not so cyclical (maybe REITS or medical companies).

In the mean time, the dividends pay your bills an or can be reinvested and your money grows slowly but surely.  I'm taking a page out of Kevin O'leary's book the cold Hard Truth on Men, Women, and Money for this screen.  Dividends pay 70% of returns in the stock market.

It can also be fun to scavenge from such a nice selection of companies.  Once you have a good feeling about the company just hit that buy button.  This is when investing is fun. when you know your stock is a solid money earner and returner.  Even when prices go down, hey it's not the end of the world and you get your dividends with the shareholder return to support it.

In my opinion, Marketinout is robust and user friendly.  You can preselect your screens, save your screens, they have technical screens and fundamental screens.  The interface is very intuitive and not like the drop down box at Finviz.  I think my eyes just cried trying to do a simple screen there.  You just select screens from a menu and presto.

Cost wise, Marketinout is also much cheaper than anything out there.    Finviz is 299 USD per year. (ouch)

Again, If you are going to purchase, email me before at .  Very important!  You will not regret it.  I can't say much here, but I'll let you know more in email.  Even if you really want to purchase, email me anyway, I can help.

That's it.  Thank you!

Wednesday, July 15, 2015

Dr. M is stunning in his methods to encourage whilste blowers

From the Malaysia Insider:

As Putrajaya hunts down those behind information leaks about an ongoing probe into 1Malaysia Development Berhad (1MDB) and allegations of fund transfers to the prime minister's accounts, Tun Dr Mahathir Mohamad said that covering and hiding of evidence were also crimes.
Those who did so would be aiding and abetting criminals and they too, should be tried under the law, the former prime minister said today.
Writing in his blog, Dr Mahathir, who has been vocal in criticising Prime Minister Datuk Seri Najib Razak over debt-ridden state investor 1MDB, added that those who had gathered evidence, but only handed them over when the case was proven, cannot be freed from the charge of abetting.
"There is risk in whistle-blowing, but there is also risk in covering-up, in aiding and abetting.
"You are really between the devil and the deep sea.
"You must make the decision now or forever regret," he wrote.
Dr Mahathir questioned Putrajaya on its policy towards whistleblowers, noting that at one time Malaysia believed in protecting such people for a greater good.
- See more at:

A book can be written about Mahathir's school of thought on politics.  Instead of complaining that the government should protect whistblowers as 90 percent of the population does, he goes the total 180 degree route and says withholding vital information is a crime as well.  Both methods have the same end effect in encouraging whistleblowing, but are using different methods to get there.

The method's of ex-pm Mahathir is extremely relevant today.  He's fighting fire with fire.  Get offensive with people's mindsets as the current government is also getting offensive with oppressing people.  This will force people into game theory mode where they will do what is best for themselves where the truth will likely come out.

Mahathir's aggressive style of politics is something Najib won't be able to withstand.

Monday, July 13, 2015

The telco space getting quite competitive

I just got the following Ad in the mailbox:

First, Celcom was offering postpaid plans at RM 35 for 3 gb of data, plus discounted calling services.  They're are basically eating the other telcos lunch.  Not so long ago 2GB of data cost anywhere from RM50 a month and more.  Now, Celcom has had enough and wants to take market share.

People seem to think TM is immune from competition. Notably, TimedotCom is offering 20 MBps for 180 per month, while Unifi is offering 10 MBps for the same price, but they do include free hypp tv services.  Speed is a major issue however.

I've tried HyppTV.  It's nothing to shout about.  They really need better movie services to even be competitive with Astro.  It appears that TM is rather uncomfortable with the broadcasting industry as Astro is an imposing force.  Hence, their execution is lacking severely with poor content and poor investment.  I don't think they believe they can seriously contend with Astro.

Unifi seems to be losing marketshare to timedotcom and are now offering 30 Mbps for 199 a month.  Competition seems real in the telco industry and nobody is immune except for maybe Astro.  It really seems to be getting ugly out there!

Friday, July 10, 2015

Sunsuria is piquing my interest

From the Edge:

KUALA LUMPUR (July 10): Sunsuria Bhd’s shares rose 4.08% to RM1.02 on the back of the impending launch of the RM1 billion gross development value (GDV) of Phase 1 of its Sunsuria City township in Sepang.
At 10.42am today, Sunsuria (valuation: 0; fundamental: 2.5) recorded a four sen increase, giving it a market capitalisation of RM620.8 million.
According to its chairman Datuk Ter Leong Yap, the phase comprises residential including 200 linked houses priced about RM500,000 and apartments costing RM360,000 onwards, retail and commercial spaces.
The soft launch of the phase is expected in mid-September.
Any time a property counter starts moving higher, on an impending sales launch makes me want to learn more about the company.  I may end up attending the launch and have a look at what's going on.

Nothing like on the ground research to see what's out there.

Wednesday, July 8, 2015

Bank Negara Reserves still robust

From the Edge:

KUALA LUMPUR (July 7): Bank Negara Malaysia’s (BNM) international reserves as at June 30 amounted to RM398.1 billion (US$105.5 billion), which is 0.96% or RM3.8 billion higher than RM394.3 billion as at May 29.
In its statement today, the central bank said the reserves' position is sufficient to finance 8.2 months of retained imports and is 1.1 times the short-term external debt.
Foreign currency reserves make up US$96.9 billion or 91.8% of total international reserves.
BNM’s international reserves has fell to RM390.2 billion in mid-June, from RM394.3 billion on May 29, mainly due to large outflow of foreign funds, putting pressure on the local currency.
Foreign Reserves don't appear to be declining as the ringgit fundamentally right now is still alright.  I've said it all along, but I really can't explain the predicament other than the ringgit market is extremely illiquid and no one wants to take a long ringgit stance  at this point.  This will likely continue until bad economic news hits the markets in the next few months.

At that point, likely the market may range due to the profiting on the news phenomena.

The Ringgit will likely endure the pain for now.

It is possible that more illiquid markets will tend to move before the news hits, while the liquid markets move as the news evolve and are more stubborn.

Thursday, July 2, 2015

A brief respite

The news has been abuzz aplenty the last few days.  Extreme shifts in sentiment from bearish to not so bearish.

1.  Fitch takes off the negative warning on Malaysia.  This is sort of a weird event.  A lot of people are actually still negative regardless of the Fitch statement.  It could bode well for a short term rally.

2.  1MDB seems to have been getting some reprieve due to an industrial saboteur caught in Thailand apparently spreading lies in return for money.  This has led to a softer stance by the government in considering for 1MDB's debt to be put on the government's balance sheet and some acknowledgement of criticism of the state investment fund.

3.  The Edge markets has gotten a letter regarding printing slanderous events on 1MDB that it is accused did not have a reasonable basis over.  Truthfully, the media does tend to jump to conclusions, but I'd like to see some evidence regarding the whistleblower reports which The Edge bases its articles on was not fabricated.

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