0058
Notice of Shares Buy Back - Immediate Announcement
Date of Buy Back : 09/10/2009
Description of Shares Purchased : Ordinary Shares of RM0.20 each
No. of Shares Purchased : 17,000 shares
Minimum Price Paid For Each Share Purchased : RM 1.300
Maximum Price Paid For Each Share Purchased : RM 1.300
Total Consideration Paid : RM 22,262.23
No. of Shares Purchased Retained in Treasury : 17,000 shares
No. of Shares Which Are Proposed To Be Cancelled : 0 shares
Cumulative Net Outstanding Treasury Shares As At To-Date : 2,166,700 shares
Adjusted Issued Capital After Cancellation : 0
Date Lodged With Registrar of Company :
Remarks:
N/A
Submitted By:
Mr Gregory Charles Poarch
09/10/2009 06:33 PM
-My View
The management consider the share is cheap now. They're buying back their share to increase the earnings. It increase the shareholder's value.
Friday, October 9, 2009
Singapore Stock News:STRAITS ASIA RESOURCES
Straits Asia Resourcessaid on Thursday the new coal loading facility at its Jembayan mine in Indonesia''s East Kalimantan province has collapsed due to heavy rain. UBS said it may cut its target price if disruptions last longer than 6 months. [ID:nSIN326650]
CreditSuisse raised its target price to S$1.25 from S$0.90 as the brokerage priced in the benefit from its Sebuku boundary resolution by extending the reserve life of that mine at the increased production rate. However the brokerage house lowered its 2009earnings estimates by 11-14 percent after the collapse of a coal loading facility at its Jembayan mine.
CreditSuisse raised its target price to S$1.25 from S$0.90 as the brokerage priced in the benefit from its Sebuku boundary resolution by extending the reserve life of that mine at the increased production rate. However the brokerage house lowered its 2009earnings estimates by 11-14 percent after the collapse of a coal loading facility at its Jembayan mine.
MAYBANK.KL - Target Price RM6.60
Pakistan’s First Financial Daily yesterday quoted Chairman of Nishat Group (major shareholder of MCB Bank), Muhammad Mansha, as saying that MCB and Maybank are planning to acquire foreign banks in UAE and Indonesia to bring Pakistan into the global financial market.
Strategy:-
Regulatory hurdles. With regard to Indonesia’s single presence policy, Maybank is unlikely to be able to acquire another bank in Indonesia even if it aspired to do so.
Maintain NEUTRAL but have raised our TP from RM6.20 to RM6.60 after pegging a higher PBV of 1.76x on a lower COE of 9.4% but unchanged sustainable ROEs of 10.8%.
Source : OSK Research
My View:-
- Malaysia's EPF and ASB are continously support Maybank share price. Once recovery happen, those Mr. Market will speculate this stock, bring it to new high level. Trader's physiology is looking for lower price (maybank) as target. Maybank's price cheaper than PBBANK, CIMB (Not valuation)
- Maybank Singapore business, is expanding by offer higher Fixed Deposit rate compare to other singapore local bank. Beside, its credit card business, is even more aggresive by offer S$100.00 if you subscribe Maybank Credit Card.
Strategy:-
Regulatory hurdles. With regard to Indonesia’s single presence policy, Maybank is unlikely to be able to acquire another bank in Indonesia even if it aspired to do so.
Maintain NEUTRAL but have raised our TP from RM6.20 to RM6.60 after pegging a higher PBV of 1.76x on a lower COE of 9.4% but unchanged sustainable ROEs of 10.8%.
Source : OSK Research
My View:-
- Malaysia's EPF and ASB are continously support Maybank share price. Once recovery happen, those Mr. Market will speculate this stock, bring it to new high level. Trader's physiology is looking for lower price (maybank) as target. Maybank's price cheaper than PBBANK, CIMB (Not valuation)
- Maybank Singapore business, is expanding by offer higher Fixed Deposit rate compare to other singapore local bank. Beside, its credit card business, is even more aggresive by offer S$100.00 if you subscribe Maybank Credit Card.
Thursday, October 8, 2009
Singtel.STI - Singapore BUY TP S$3.60
Selling pressure on SINGTEL is not reason. Due to its defensive business, it's time to accumulate SINGTEL stock.
BUY @3.00-3.05
Enjoy the trade!
BUY @3.00-3.05
Enjoy the trade!
Dow ends mixed after a 2-day rally of 2.6%
After two consecutive days of 100-plus point gains, DJIA took a breather last night (-6 pts to 9725.6) as investors wait for Q3 corporate earnings reports to start rolling in the absence of any major economic news. The earnings season got off to a good start with Aluminum maker Alcoa Inc, the first of the Dow Jones constituent members to report results, beats analyst estimates to return to profitability following three losing quarters, providing a good start to the earnings season. Alcoa also expects global aluminum consumption to increase 11% in the 2H09. We expect the Dow’s mid-term positive trend to stay intact, with the next resistances being 9918pts (recent Sep 23rd high) and the psychological 10,000pts mark which is now only 274pts away. The 30-day SMA line continues to provide meaningful support at 9617pts, having been tested twice last month and proven its resilience on both occasions
News Break...
Astro pays USD250m for EPL, earnings outlook at risk
According to various news reports, Astro will pay the bulk of the estimated USD250m for the Barclays EPL rights for the next three years. The cost of the EPL is said to be nearly double the previous price paid directly to EPSN. In our view, the steep jump in content price for EPL will lead to further price hike in the next 12 months and this is unlikely to go well with subcribers. Recall that Astro recently raised its Sports package price by RM12/user in Aug09. We estimate the higher EPL cost to translate into subscription price hike of RM7-8/user.
We are negative on the stock: (1) Headwinds from higher content cost, slower net additions and easing ARPU will have negative impact on earnings. 53k net subcribers in 2Q10 is the lowest in 2 years. (2) Our DCF derived price target of RM3.20/share implies 5% downside from current share price.
Newsbreak
Tenaga sued for RM107m
The power utility is being sued by Irham Niaga Sdn Bhd and Irham Niaga Logistics Sdn Bhd for wrongful repudiation of tenancy agreements. The 2 companies sue the power utility for a total of RM107m.
Dialog propose special share dividend
The group is proposing a special share dividend of 1 treasury share for every 50 shares held. According to the company, this special dividend is to commemorate the 25th anniversary of the incorporation of group’s companies.
MEMS classified as affected issuer
ACE Market-listed MEMS Tech has been classified as an affected issuer by Bursa after failure to submit a solvency declaration. The company may face suspension and possible delisting.
BAT: Increases in tobacco tax will increase illicit trade
The company views any future increases in tobacco excise tax as encouraging illicit cigarettes trading and will affect the earnings of legitimate industry players. The company hopes that the government will not increase the excise tax in the upcoming budget.
Economics
Malaysia: Foreign reserve was higher at $95.95bn as on 30 Sep compared to $93.54bn in mid Sep, on the back of appreciation of ringgit against the dollar in that period.
US: MBA mortgage applications last week increased 16.4%, reaching its highest level in four months as interest rates continued to fall toward near-record lows.
Euro: GDP fell 0.2% in 2Q compared to -2.5% in 1Q; the decline was sharper than the 0.1% fall estimated on 2 Sept, as consumer spending, investment and exports were weaker than earlier reported.
According to various news reports, Astro will pay the bulk of the estimated USD250m for the Barclays EPL rights for the next three years. The cost of the EPL is said to be nearly double the previous price paid directly to EPSN. In our view, the steep jump in content price for EPL will lead to further price hike in the next 12 months and this is unlikely to go well with subcribers. Recall that Astro recently raised its Sports package price by RM12/user in Aug09. We estimate the higher EPL cost to translate into subscription price hike of RM7-8/user.
We are negative on the stock: (1) Headwinds from higher content cost, slower net additions and easing ARPU will have negative impact on earnings. 53k net subcribers in 2Q10 is the lowest in 2 years. (2) Our DCF derived price target of RM3.20/share implies 5% downside from current share price.
Newsbreak
Tenaga sued for RM107m
The power utility is being sued by Irham Niaga Sdn Bhd and Irham Niaga Logistics Sdn Bhd for wrongful repudiation of tenancy agreements. The 2 companies sue the power utility for a total of RM107m.
Dialog propose special share dividend
The group is proposing a special share dividend of 1 treasury share for every 50 shares held. According to the company, this special dividend is to commemorate the 25th anniversary of the incorporation of group’s companies.
MEMS classified as affected issuer
ACE Market-listed MEMS Tech has been classified as an affected issuer by Bursa after failure to submit a solvency declaration. The company may face suspension and possible delisting.
BAT: Increases in tobacco tax will increase illicit trade
The company views any future increases in tobacco excise tax as encouraging illicit cigarettes trading and will affect the earnings of legitimate industry players. The company hopes that the government will not increase the excise tax in the upcoming budget.
Economics
Malaysia: Foreign reserve was higher at $95.95bn as on 30 Sep compared to $93.54bn in mid Sep, on the back of appreciation of ringgit against the dollar in that period.
US: MBA mortgage applications last week increased 16.4%, reaching its highest level in four months as interest rates continued to fall toward near-record lows.
Euro: GDP fell 0.2% in 2Q compared to -2.5% in 1Q; the decline was sharper than the 0.1% fall estimated on 2 Sept, as consumer spending, investment and exports were weaker than earlier reported.
Today Update
US: Consumer credit fell by US$12bn in August
US consumer credit fell in August for a seventh straight month as banks maintained restrictive terms and job
losses made households reluctant to borrow. Consumer credit fell by US$12bn (5.8% y-o-y) to US$2.46trn.
Credit dropped by US$19bn in July, less than previously estimated. The series of declines is the longest since
1991. Economists had forecast consumer credit would drop US$10bn in August. (Bloomberg)
Global: Gold rise to record shows investors split with banks
Gold’s rally to a record shows commodity investors remain concerned that the US economic recovery will spur
inflation even as Wall Street forecasts and government bonds suggest stable prices. Bullion has jumped 18%
this year, heading for a ninth annual gain, and futures touched a record US$1,049.70 an ounce yesterday amid
rising demand for a hedge against inflation and a weaker dollar. Economists surveyed in the past month expect
US consumer prices to fall 0.5% this year, the first drop in five decades. Demand for gold is increasing as US
government debt reaches record levels and the Federal Reserve keeps interest rates near zero percent.
(Bloomberg)
US consumer credit fell in August for a seventh straight month as banks maintained restrictive terms and job
losses made households reluctant to borrow. Consumer credit fell by US$12bn (5.8% y-o-y) to US$2.46trn.
Credit dropped by US$19bn in July, less than previously estimated. The series of declines is the longest since
1991. Economists had forecast consumer credit would drop US$10bn in August. (Bloomberg)
Global: Gold rise to record shows investors split with banks
Gold’s rally to a record shows commodity investors remain concerned that the US economic recovery will spur
inflation even as Wall Street forecasts and government bonds suggest stable prices. Bullion has jumped 18%
this year, heading for a ninth annual gain, and futures touched a record US$1,049.70 an ounce yesterday amid
rising demand for a hedge against inflation and a weaker dollar. Economists surveyed in the past month expect
US consumer prices to fall 0.5% this year, the first drop in five decades. Demand for gold is increasing as US
government debt reaches record levels and the Federal Reserve keeps interest rates near zero percent.
(Bloomberg)
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