October 30, 2010

My100000stockfolio 30.10.2010--1500 exceed and hold, next level 1600?

Buy At Quantity Cost MktPrice MktValue Gain/Loss Gain/Loss %
BJTOTO 4.20 200 839.25 4.1600 832.00 (7.25) -0.86%
CMMT 1.11 1000 1114.33 1.0800 1080.00 (34.33) -3.08%
Deleum 1.55 500 773.23 1.5300 765.00 (8.23) -1.06%
Genting Malaysia  2.88 500 1440.86 3.5000 1750.00 309.14 21.46%
Ivory 1.37 1000 1366.41 1.2400 1240.00 (126.41) -9.25%
Kim Lun 1.50 500 748.23 1.4000 700.00 (48.23) -6.45%
Sunway REIT  0.90 1000 904.54 0.9900 990.00 85.46 9.45%
Quill Capital Trust 1.03 1000 1034.31 1.0300 1030.00 (4.31) -0.42%
G 0.09 10000 913.27 0.0850 850.00 (63.27) -6.93%
Cash 1274.21 1274.21 0.00 0.00%
Total Portfolio Value

10408.64 10511.21 102.57 0.99%

KLCI index seems to hold strong at 1500 level, with MHB and Petronas Chemical IPO, will the index be testing historical high soon? 1600 maybe?
Well, we cannot forecast future, but for sure inflation is going to be very high in future due to an oversupply in money. This month I have sold DRB-Hicom, KimLun taking profit at RM1.40, but later buying back around RM1.50 including the brokerage fees because I deeply believe it will benefit from both Singapore and Malaysia's MRT contract jobs and Iskandar related construction, anyway it is a well managed company.

I cut loss on BJTOTO-CF at RM0.105, losing RM100++, change to buy in those high dividend paid REITs such as CMMT and QuilCapitalTrust because I deeply believe it is still very undervalued compared to bvps of around RM1.20, which is still selling around RM1.03 now.Looking at its logo, it reminds me of CMMT, they are related management, that's why I'm so confident in them, Capital Mall if you don't know, is one of the largest real estate developer and management company in Singapore, most of the complex they involve are very well managed.

You should start planning next year's stock by now. I have started buying in Deleum which is an O&G company believe in next year run on Crude oil price which now stand firm at 80+. With the listing of both MHB and Petronas Chemical soon, I believe it will be the focused industry coming years, also I believe the crude oil and all the commodity will have a crazy bull run next year, creating a hyperinflation economy in Asia countries which lead to a devastating economy and a crash in market. Buying Gold and Oil&Gas company is a wiser choice now, also the REITs with a safety rental income.

Oct I have miss out my Power  Root , which I recommended in my watching list here since Sept2010, it has a pretty good divided this year for shareholders, too bad I miss it, but special dividend might not repeat itself in coming years, yet I still like its dividend yield, now I am only hoping my Deleum will fall another round below RM1.50 so that I can accumulate more for future.

October 29, 2010

HOVID BERHAD-PN17!!

Type
:
Announcement
Subject
:
HOVID BERHAD (“HOVID” OR “THE COMPANY”)
PRACTICE NOTE 17 (“PN17”) OF BURSA MALAYSIA SECURITIES BERHAD MAIN MARKET LISTING REQUIREMENTS (“MAIN MARKET LR”)
(FIRST ANNOUNCEMENT)

Contents
:
Announcement pursuant to the PN17 of the Main Market LR of Bursa Malaysia Securities Berhad (“Bursa Securities”), the Board of Directors of Hovid wishes to announce that Hovid has triggered Prescribed Criteria 2.1(d) of PN17 and as such, Hovid is now classified as a PN17 company.

Announcement Details :



1.        Introduction
Pursuant to Paragraph 8.04 and Paragraph 2.1(d) of PN17 of the Main Market LR, the Board of Directors (“Board”) of Hovid wishes to announce that as of the date hereof, Hovid is considered as a PN17 Company. 
The Board wishes to elaborate that a subsidiary, Carotech Berhad (“Carotech”), have defaulted on the repayment of certain borrowings which were due for payment during the financial year ended 30 June 2010, which was announced on 1 July 2010, pursuant to the Guidance Note 5 ("GN5") of the Bursa Securities ACE Market Listing Requirements.  Carotech has also sought the assistance of Corporate Debt Restructuring Committee ("CDRC") to mediate between Carotech and its lenders on its Proposed Debt Restructuring scheme (“the Proposed Scheme”).  The CDRC has agreed to mediate and allowed a period of 6 months from 1 July 2010 to complete the proposed scheme.  The lenders of Carotech are currently reviewing and considering the proposed scheme but no decision has been made as at the date the financial statements for the financial year ended 30 June 2010 were approved by the Board.
Without having the approval of the lenders for the Proposed Scheme and various uncertainties at present, the auditors of Carotech has expressed a disclaimer opinion on the financial statements for the financial year ended 30 June 2010.  Consequently, Carotech has triggered the Prescribed Criteria 2.1(b), (c) and (f) of Guidance Note No. 3 ("GN 3") of the Bursa Securities ACE Market Listing Requirements.
Considering Carotech is a significant subsidiary in the Hovid Group of companies as at 30 June 2010, the auditors of the Company has expressed a disclaimer opinion on the financial statements for the financial year ended 30 June 2010. 
The Board wishes to highlight that, commencing in August 2010, Hovid had disposed a total of 180,000,000 ordinary shares of RM0.10 each of its shares in Carotech comprising 19.73% equity interest for a total net consideration of RM12.60 million.  Consequently, the effective interest of Hovid in Carotech has been reduced to 38.45% as at the date the financial statements for the financial year ended 30 June 2010 were approved by the Board. 
Therefore, Carotech will no longer be a subsidiary of Hovid and the significance of Carotech in the Hovid Group would drastically be reduced in the financial year ending 30 June 2011.
2.        Obligation under PN17
The Company is required to comply with Paragraph 3.1 and 4.1 of PN17 detailed as follows:-
a.       To undertake a regularisation plan to regularise its financial position (“Regularisation Plan”) and ensure that the Regularisation Plan is sufficiently comprehensive and capable of resolving all issues in relation to the PN17 status; and
b.      To submit the Regularisation Plan within 12 months (‘timeframe”) from the date of this announcement and to implement the same within the timeframe stipulated by the Approving Authorities.  
c.       To make the following announcements:-
                                 i.         Within 3 months from the date of this announcement, on whether the Regularisation Plan will result in a significant change in the business direction or policy of the PN17 Company;
                               ii.         The status of the Regularisation Plan and the number of months to the end of the relevant timeframes referred to in Paragraph 5.1 or 5.2 of PN17, as may be applicable, on a monthly basis until further notice from Bursa Securities;
                              iii.         The Company’s compliance or non-compliance with a particular obligation imposed pursuant to PN17, on an immediate basis;
                             iv.         Details of the Regularisation Plan, which must fulfill the requirements set out in Paragraph 4.2 of PN17; and
                               v.         Where the Company fails to regularise its condition, the dates of suspension and de-listing of its listed securities, immediately upon notification of suspension and de-listing by Bursa Securities.
3.        Consequences of Non-compliance under PN17
In event the Company fails to comply with the obligation under PN17 to regularise, all its listed securities will be suspended from trading immediately upon notification by Bursa Securities and de-listing shall commence against the Company, subject to the Company’s right to appeal against the de-listing.
4.        Status of Regularisation Plan of its Financial Condition
The Company does not have a formal regularisation plan at present to regularise its financial conditions, save for the debt restructuring exercise currently being mediated by the CDRC and reviewed and considered by the lenders of Carotech.  Nevertheless, the Company will take the necessary action to formulate a regularisation plan.  Appropriate announcements on the regularisation plan shall be announced by the Company in due course.
(This announcement is dated 29 October 2010)

VW eyes pact with DRB-Hicom by year-end

Europe's biggest vehicle manufacturer Volkswagen(VW) Group hopes to conclude negotiations with DRB-Hicom Bhd on the proposed partnership to produce Volkswagen vehicles in Malaysia, by year-end.

Volkswagen Group Malaysia Sdn Bhd Managing Director Andreas Prinz said that so far, the negotiations were promising with several working groups looking at different aspects of the venture -- production, government incentives and product feasibility.

"We are quite close and so far, it is quite promising that we can hopefully sign the agreement soon; the latest by end of this year," he told Bernama after introducing Australian electro-pop rock band The Veronicas who will launch new Volkswagen models with British pop and R&B singer–songwriter Leona Lewis tomorrow.

Volkswagen had in August signed a memorandum of understanding with DRB-Hicom to produce Volkswagen cars from 2012 onwards in Pekan, DRB-Hicom’s largest automotive manufacturing facility in Malaysia.

For the initial production of the local assembly, the company might be looking at one or two popular models which had yet been offered in Malaysia, Prinz said.

"We need to train the people about product quality. We will not be entering into full swing, maybe a few thousand units before we run into full capacity," he said when asked about the initial production.

He said that even with the local assembly, the company would still import other products from all over the world in order to provide variety of choices for the domestic market.

Currently, Volkswagen is number two in the world in terms of car sales.

Prinz said the group expected 2010 to be a successful year not only globally but also in Malaysia.

"We are still small here in Malaysia and Asean, and that is why, it is important for us to grow here," he said adding that local production would not only fulfil local demand but also open other possibilities including exporting Volkswagen cars into Asean market.

On target sales, he said the company was on track to achieve its target sales for this year of 1,800 units, especially with the upcoming three new models to be launched in the local market.

Last year, the company sold slightly less than 900 units.
The three new models to be launched tomorrow are Polo 1.2 litres 105PS (priced at RM108,888), the Golf (RM148,888) and Scirocco 1.4 litres 160PS (RM188,888) -- all with highly awarded TSI engine and seven-speed direct shift gearbox DSG.

October 28, 2010

Hai-O entry into property may add risk: OSK

Hai-O Enterprise Bhd's venture into the property business will add more risk to the group, given that its multi-level marketing (MLM) business is still trying to recover locally, says OSK Research.

"While the venture may help generate future earnings and reduce its reliance on the more volatile MLM business, our concern is that this will further divert its focus on its current businesses and add risk to the group if not executed properly," it said in its research note today.

The research house said apart from the risk of venturing into a non-core property business, in which Hai-O has no expertise, the group's MLM business was still struggling from the impact of more stringent rules on direct marketing.

The property venture is the second non-core business Hai-O has gone into after it diversified into the heat transfer technology in August 2009.

OSK said given the recovery in buying sentiment among Hai-O's members was taking longer than expected (members were ordering less even for the saleable products), the management believed the MLM division would need more than six months to recover.

"Nonetheless, the Hai-O management is confident that with all the measures put in place by the task force set up to beef up performance, its MLM division would regain momentum and continue to drive the group's earnings," it said. -- Bernama

October 27, 2010

HAI-O ENTERPRISE BERHAD Reply to query

Type
:
Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID
:
YL-101025-53497
Subject
:
SHARE SALE AND SHAREHOLDERS' AGREEMENT BETWEEN HAI-O PROPERTIES SDN BHD AND SIERRA EQUATORIAL DEVELOPMENT SDN BHD ("SED")

Contents
:
Reply to query by Bursa Malaysia Securities Berhad dated 26 October 2010.

Query Letter
content
:
We refer to your announcement dated 22 October 2010 in respect of the
abovementioned matter.

In this connection, kindly furnish Bursa Malaysia Securities Berhad ("Bursa
Securities") with the following additional information for public release : -
1. The original cost of investment and date of invesment of HOP in the Sale
Shares.
2. The expected gains or losses to Hai-O Enterprise Berhad ("HOE") group
arising from the disposal of the Sale Shares.
3. The particulars of all liabilities to be assumed by SED arising from the
acqusition of the Sale Shares.
4. The highest percentage ratio applicable to the Agreement pursuant to
paragraph 10.02(g) of Main Market Listing Requirements.
5. The eventual issued and paid-up share of Hai-O Developement Sdn Bhd ("HOD").
6. The sources of funds for financing the investment in HOD by HOP/HOE.
7. The rationale of HOE for undertaking the business of property investment
and development in Malaysia.

Kindly furnish Bursa Securities with your reply within one (1) market day from
the date hereof.


Yours faithfully

TAN YEW ENG
Head, Issuers
Listing Division
Regulation


TYE/YLS
c.c:- Head, Market Surveillance Department, Market Supervision Division,
Securities Commission (via fax)

Announcement Details :




With reference to the query from Bursa Malaysia Securities Berhad dated 26 October 2010 ( Ref : YL-101025-53497) on the abovementioned matter, the Board of Directors of Hai-O Enterprise Berhad (“HOE / the group”)  is pleased to furnish the following additional information for public release :

Hai-O Development Sdn Bhd (“HOD”) became a wholly-owned subsidiary of HOE on 30 June 1983 with an issued and paid-up capital of RM3.00/- comprising 3 ordinary shares of RM1.00 each.  HOD then increased its issued and paid-up share capital to RM104,000/- in cash by the issuance of 103,997 new ordinary shares in HOD on 4 December 1986 to HOE.  On 26 October 1987, HOD further increased its issued and paid-up share capital to RM120,000/- in cash by the issuance of an additional 16,000 new ordinary shares at RM1.00 each to HOE.  HOE then on 25 August 1990 as part of its internal restructuring exercise transferred its entire equity comprising 120,000 ordinary shares of RM1.00 each fully paid in HOD to Hai-O Properties Sdn Bhd (“HOP”) for a cash consideration of RM1.00. The original cost of investment of the group in the Sale Shares (as defined in our earlier announcement dated 22 October 2010) was RM48,000/-.

There is no material impact to the earnings of HOE group from the disposal of the Sale Shares.  The expected gain arising from the Sale Shares is RM4,955/-.

There is no outstanding liabilities in HOD as at the date of the agreement except for non-trade current liabilities of RM9,888/- whereby  SED shall assume RM3,955/- arising from  the acquisition of 40% equity interest in HOD.

The highest percentage ratio applicable to the Agreement pursuant to paragraph 10.02(g) of Main Market Listing Requirements is 1.26%.

The eventual enlarged issued and paid-up share capital of HOD will be RM6,000,000 comprising 6,000,000 ordinary shares at RM1.00 each as agreed by both HOP and SED in the Agreement.  HOP will hold 60% equity interest in HOD, which is 3,600,000 shares of the enlarged issued and paid-up share capital of HOD.

The investment in HOD will be financed from internally generated funds of the group.

The rationale for HOE to undertake the business of property investment and development in Malaysia is to broaden the group's earnings base by diversifying into another business sector as well as to make use of the excess funds of the group to acquire land banks for future development or investment with the objective of generating higher returns to shareholders.

This announcement is dated 27 October 2010

October 22, 2010

Hai-O unit in pact with Sierra Equatorial

Hai-O Enterprise Bhd's wholly-owned subsidiary, Hai-O Properties Sdn Bhd (HOP), has entered into a share sale and shareholders' agreement with Sierra Equatorial Development Sdn Bhd (SED).

The agreement is to enable both parties to venture into the business of property investment and development in Malaysia, it said in a filing to Bursa Malaysia today.

Hai-O said the agreement is for both parties to establish a long term relationship via their participation in Hai-O Development Sdn Bhd (HOD), a wholly-owned subsidiary of HOP.

Under the agreement, HOP will sell a 40 per cent equity interest in HOD to SED for RM1,000 while it continues to hold the remaining 60 per cent.

The directors and management of SED have been involved in the housing development and building construction industry for many years.

They have also experience in reviving several abandoned projects in Klang Valley

October 21, 2010

How to have a consistent monthly dividend income from REITs

Did anyone read about Star newspaper business today? Author Lim has mentioned how to get a consistent cashflow by buying the REITs.



A LOT of investors, especially senior citizens, are hoping to get consistent and regular dividend payments from stocks.
In this article, we will look into constructing an investment portfolio, which consists of real estate investment trusts (REITs), to get monthly dividend payments.

 
A REIT is a real estate company that pool investor funds to purchase a portfolio of properties. Normally, it has two unique characteristics: investment in income-producing properties, with almost all of its profits distributed to investors as dividends.

 
From the table, based on the latest stock price (as at Oct 18) and on assumption that the same dividend payments will be paid over the next 12-month period, almost all REITs will provide about 7%-8% dividend yields. Based on our observations, most of the REITs will try to pay higher dividends over the years. Hence, if the overall economy continues to recover, some REITs may pay even higher dividends for the coming few years.

 
Due to them only listing at the middle of this year, we have excluded CMMT and Sunreit.

 
As mentioned earlier, a lot of retirees would like to invest in investment assets that can provide a consistent and regular dividend income. Therefore, we think that REITs can provide a good alternative to the retirees. From the table, except for Arreit, Atrium, Axreit and Hektar, all other REITs will make dividend payments twice per year. Most of them will pay their dividends in the month of February and August. Hence, if an investor would like to receive his dividends other than the above two months, he may need to diversify their REITs into holding many types of REITs.

 
Based on the list of REITs in the table, we can see that, except for the month of January and April, dividend payments were being made at different months throughout the year, thus investors can receive a stream of dividend income by buying into different types of REITs.

 
Investors can build a REIT portfolio consisting of a few REITs which make dividend payments at different months of the year. The following is just one of selection options available for consideration.

 
Based on the current price dated on Oct 18, assuming that the same dividends will be paid in the next 12 months, a portfolio with AMfirst, Arreit, Atrium and Hektar can generate a dividend yield of more than 8% (see table). Besides, by buying with equal amount into these four REITs, investors can get dividend payments for almost every month, except for the month of January, April, July and October.

 
Nevertheless, investors need to understand that the above selections are solely based on the assumption that these REITs will reward investors with the same dividends and pay during the same month as shown in the table above.

 
We also understand that apart from the above four REITs, some other REITs may reward investors with even higher dividend payments.

All eyes on YTL’s WiMAX launch

YTL Power International is gearing up for the nationwide launch for its WiMAX broadband services — although details on its offerings and pricing structure are still very skimpy.

The company, which owns 60% of YTL Communications, holder of the wireless broadband service provider licence, has fixed Nov 18 for the launch, after several rounds of delay. If all goes to plan, the day comes more than two years after P1 — a unit under Main Market-listed Green Packet — first introduced WiMAX broadband services in the country. YTL’s ambitions, however, are far loftier.

P1 opted for a step-by-step, learn as you go along approach, gradually extending its network roll out and coverage. Its primary target market, at least for the initial phase, is the fixed broadband segment — high-speed Internet access delivered to homes wirelessly. As such, P1’s main competitor is Streamyx.

The company also offers mobile broadband services — Internet access via a USB dongle or WiMAX-embedded laptops and netbooks. However, with limited coverage areas the service is more often termed nomadic broadband rather than true mobility. P1 expects to offer the latter as it continues to widen coverage, targeted to reach 45% of the population by end-2010 and 65% by 2012.

Launching with a bang
By contrast, YTL Comms is planning a nationwide launch, with the claim of 65% population coverage — from 1,000 base stations — right at the outset, and which will increase further to 80% by early 2011. It is reported to have invested about RM1 billion of the estimated RM2.5 billion of planned capital expenditure, to date.

With that level of coverage, it will be able to offer both fixed and mobile voice and broadband services. That means its potential market would include not only the fixed home broadband segment but also heads up against the cellular players in the voice, mobile broadband and mobile Internet (Internet access via handsets) segments.

Aiming for quad play
In fact, YTL Comms aims to go much further. Earlier this month, it inked a licence and service agreement with US-based Sezmi Corporation to deploy hybrid TV — comprising traditional, live over-the-air broadcast as well as over-the-top on-demand online content — in Malaysia and the Asia Pacific.

The company plans to launch the service in the domestic market by end-2011, completing its target for quadruple-play — offering ubiquitous broadband, video and voice services. News reports suggest an investment cost of between RM1 billion to RM2 billion for the TV offering.

How will it fare in an intensely competitive environment?
It is far too soon to tell how YTL Comms will fare in the already intensely competitive environment.

The fixed voice and broadband market segments are currently dominated by Telekom Malaysia while the three biggest celcos, Maxis, Celcom and DiGi, have a stranglehold on the mobile voice, mobile broadband and mobile Internet markets.

It has deep pockets. But then so do the telcos and perhaps more importantly, they have already built a huge subscriber base. Working in YTL Comms’ favour is the fact that its WiMAX network is data-centric, designed primarily to cater to our growing demand for bandwidth, anytime, anywhere with voice added as a secondary capability. Still, it is no easy task for a new entrant to lure subscribers away from their existing service providers.

As a startup, P1 has done quite well, signing up over 200,000 subscribers since its launch in August 2008 — and targets reach 280,000 by the end of the year. However, it is off the pace that was originally expected due, in part, to teething problems and stiff competition. P1 hopes to break even at the operating level by early-2011.

The limited number of WiMAX-enabled consumer devices could also pose a challenge. The recent introduction of WiMAX-embedded laptops from major manufacturers like Acer, ASUS and Lenovo has yet to pick up momentum and there are few WiMAX-enabled handsets in the market. Certainly, their number lags far behind the relatively mature 3G ecosystem today.

Internet business raises risk profile

YTL Power’s existing power and water utility businesses carry relatively low risks with predictable earnings and cash flow. Diversifying into the Internet business raises its risk profile, adding the element of uncertainty to earnings.

Given the high upfront capital investments and rising subscriber acquisition costs, the Internet business will most certainly be in the red for some time — the average turnaround time for a telco is roughly three to four years — although the quantum of losses remains less clear at this point.

YTL Comms will have to ramp up its subscriber numbers pretty quickly in order to recoup its investments in an industry where rapidly changing technology means continuous capital spending. Case in point, Celcom, Maxis and DiGi are, collectively, planning to spend over RM3 billion this year to expand the breadth and depth of their networks. And the telcos are already plotting a migration to the next generation platform — called LTE, which will be based on the Internet protocol, much like WiMAX — even as they continue to roll out their 3G networks.

Stock fairly valued pending greater clarity on Internet business
Uncertainties could weigh on YTL Power’s share price in the foreseeable future. It would not be surprising if investors remain skeptical pending clearer evidence of success.

Earnings from its existing power and water utility businesses are expected to remain steady. We estimate net profit at roughly RM1.2 billion in FYJune11. That implies the stock is pretty much fairly valued at about 15.4 times our estimated earnings at the current price of RM2.33 — in view of its heightened risks.

Positively, YTL Power should maintain its generous dividend payout. Dividends totalled 13.1 sen per share in FY10. Assuming the same level of dividends in the current financial year, shareholders will earn a net yield of 5.6% at the prevailing share price. The stock will trade ex-entitlement for final tax-exempt dividend of 1.875 sen per share on Dec 3.

To recap, YTL Power is the first independent power producer in Malaysia — it owns and operates two power-generating plants with capacity totalling 1,212MW. In 2002, the company extended its reach beyond local shores by acquiring Wessex Water — a UK-based sewerage and water operator supplying 1.2 million customers.

Two years later, it bought a 35% stake in Jawa Power, an independent power producer with a 1,220 MW coal-fired plant in East Java, Indonesia. In its latest foray overseas, YTL Power acquired Power Seraya, a Singapore-based power generator and wholesale-retail utility company. — InsiderAsia


Note: This report is brought to you by Asia Analytica Sdn Bhd, a licensed investment adviser. Please exercise your own judgment or seek professional advice for your specific investment needs. We are not responsible for your investment decisions. Our shareholders, directors and employees may have positions in any of the stocks mentioned.


This article appeared in The Edge Financial Daily, October 20, 2010.

October 20, 2010

BERJAYA SPORTS TOTO BERHAD- ANNUAL GENERAL MEETING HELD ON 20 OCTOBER 2010

Type
:
Announcement
Subject
:
ANNUAL GENERAL MEETING HELD ON 20 OCTOBER 2010

Contents
:

The Board of Directors of the Company is pleased to announce that at the Company's Annual General Meeting held on 20 October 2010, the following resolutions have been duly passed:-

RESOLUTION 1
----------------------
-Adoption of the audited financial statements of the Company for the year ended 30 April 2010 and the Directors' and Auditors' Reports thereon.

RESOLUTION 2
----------------------
-Approval on the payment of the Directors' fees amounting to RM108,750 for the year ended 30 April 2010.

RESOLUTION 3,4 & 5
------------------------------
-Re-election of Chan Kien Sing, Rayvin Tan Yeong Sheik and Datuk Robert Yong Kuen Loke as Directors of the Company pursuant to Article 98(A) of the Company's Articles of Association.

RESOLUTION 6
----------------------
-Re-appointment of Tan Sri Dato' Thong Yaw Hong as a Director of the Company.

RESOLUTION 7
----------------------
-Re-appointment of Messrs Ernst & Young as Auditors of the Company.

RESOLUTION 8
----------------------
-Authority for Directors to issue and allot shares pursuant to Section 132D of the Companies Act, 1965.

RESOLUTION 9
----------------------
-Renewal of and new shareholders' mandate for recurrent related party transactions of a revenue or trading nature.

RESOLUTION 10
------------------------
-Renewal of authority to purchase its own shares by the Company.

RESOLUTION 11
-----------------------
-Amendment to the Company's Articles of Association.

IVORY PROPERTIES GROUP BERHAD -INCORPORATION OF IVORY MEDIA SDN. BHD.

Type
:
Announcement
Subject
:
INCORPORATION OF IVORY MEDIA SDN. BHD.

Contents
:
Further to our announcement on 15 October 2010, Ivory Properties Group Berhad wishes to announce that its wholly-owned subsidiary, Ivory Media Sdn. Bhd. , has been duly incorporated on 20 October 2010 under the Company No. 919038-D as per the Certificate of Incorporation dated 20 October 2010 which was received from the Companies Commission of Malaysia this afternoon.

This announcement is dated 20 October 2010.

Announcement Details :

GENTING MALAYSIA BERHAD -Joint Venture annoucement

Type
:
Announcement
Subject
:
GENTING MALAYSIA BERHAD

(I) JOINT VENTURE AGREEMENT BETWEEN GENTING IBICO HOLDINGS LIMITED, APOLLO RESORTS & LEISURE LIMITED AND SEVCO (5036) LIMITED

(II) CASINO AGREEMENT BETWEEN GENTING CASINOS UK LIMITED, APOLLO RESORTS & LEISURE LIMITED AND APOLLO RESORTS & LEISURE CASINOS LIMITED

Contents
:
Genting Malaysia Berhad ("GENM") is pleased to announce that on 19 October 2010:-

(i) Genting Ibico Holdings Limited (formerly known as Ibico Holdings Limited), an indirect wholly-owned subsidiary of GENM, had entered into a joint venture agreement with Apollo Resorts & Leisure Limited (“Apollo”) and Sevco (5036) Limited (to be renamed as Apollo Genting London Limited); and

(ii) Genting Casinos UK Limited, an indirect wholly-owned subsidiary of GENM, had entered into a casino agreement with Apollo and Apollo Resorts & Leisure Casinos Limited.

For further details, please refer to the attached announcement.

This announcement is dated 20 October 2010.

After MAGNUM’s privatization will BJTOTO follows?

Below is an old news, BJTOTO has not been a favourite stocks for KLCI Index recently due to competition from Magnum. If it was to be kick out of KLCI Index due to a bigger giant listing soon--The Petronas Chemical, will it be taken private by Vincent Tan? Who knows?

------------------------------------------------------------
The recent privatization announcement involving yet another sector, number forecast operator (NFO), has created some excitements since the stock market took the plunge taking the cue from U.S. continuous sub-prime worries. Magnum Corp Berhad, the oldest NFO in Malaysia is set to be taken private by its largest shareholder Multi-Purpose Holdings Berhad (KLSE: MPHB, stock-code 3859) which holds about 55.54 percent in Magnum.

Under the proposed deal, MPHB together with private equity firm CVC Asia Pacific Ltd will form a special purpose vehicle (SPV) to take Magnum private atRM3.45 per share or RM4.9 Magnum 4D Gamesbillion for the whole exercise. At RM3.45 Magnum was valued at a P/E ratio of 21.5 times and book value of 4.2 times based on its balance sheet as of Sept 30. MPHB and CVC will hold 51% and 49% equity interest respectively in the SPV; the SPV will pay out some RM4.9bil – RM2.7bil to MPHB and the remaining RM2.2bil to other shareholders.
While there’re three main 4D players or NFOs in the Malaysian market, Berjaya Sports Toto Berhad (KLSE: BJTOTO, stock-code 1562) has the most lotto games and outlets in the country while the other two players, Magnum Corp Bhd and Tanjong plc.only offer 4D games. Magnum which started operation in 1969 has followers since then and it was said that gamblers who bet their luck with Magnum has higher chances of striking, though it’s not proven. But old timers are mostly Magnum’s loyalist.
With Magnum set to be delisted from Kuala Lumpur Stock Exchange, logically the attention from investors would be diverted to BJTOTO. It would be interesting to see if Vincent Tan plans to adopt similar approach in taking his cash-cow private

Kimlun one of top-performing IPOs this year

KUALA LUMPUR: Kimlun Corp Bhd has emerged as one of the top performers on Bursa Malaysia, if not among newly-listed companies. Its share price has advanced 67% from its initial public offering (IPO) price of 97 sen to close at RM1.62 on Wednesday, underpinned by a growing order book that has attracted institutional investors. The Johor Bahru-based company, which focuses on property, infrastructure and heavy engineering projects, made its debut on Bursa Malaysia’s Main Market on June 29.
Its CEO Sim Tian Liang told The Edge Financial Daily that the company had attracted interest from foreign funds — mostly Singapore. Still, he thinks there is potential for foreign shareholdings to grow as they currently hold below 5%.
“About 17% of the company’s shares are held by institutions,” he added.
Kimlun’s major shareholders are executive chairman Pang Tin, who owns 40.86%, or 93.67 million shares. The free float for the company’s shares is estimated at 48.8%. Sim said Kimlun’s order book was about RM760 million as at Aug 31, 2010. Construction jobs accounted for RM680 million and the rest were from supply contracts for precast housing projects and precast concrete lining for tunnels of the Singapore mass rapid transit (MRT) extension.
Excluding the RM760 million, Kimlun recently was awarded a RM70 million contract from Malaysian Resources Corp Bhd to build the Marlborough College East in Iskandar Malaysia. The Marlborough College East contract involves the construction of main building works and the targeted completion date is January 2012.
It was also awarded a RM65 million contract from S P Setia Bhd for two blocks of 25-storey serviced apartments in Bukit Indah, Nusajaya, Johor. The contract comprises 354 apartment units, including car parks and is due to be completed by September 2012.
Sim said Kimlun had been invited by several parties to put in bids for projects.
“We have sent out bids for RM700 million construction projects, comprising housing and infrastructure jobs,” said Sim, who sees more jobs ahead for the company, especially from Iskandar Malaysia.
He added that Kimlun was bidding for high-end and medium-range housing projects in the Iskandar region, Johor Bahru and the Klang Valley.
In a recent research note, Hwang DBS Vickers Research said Kimlun was a potential beneficiary of the ongoing Iskandar Malaysia development, given its presence and established track record. “Kimlun is actively bidding for over RM1 billion worth of contracts in Iskandar Malaysia and we expect more contracts to be awarded (from there) over the next three months,” it said.
The proposed RM35 billion MRT for Kuala Lumpur has also drawn interest from Kimlun, which hopes to get part of the precast concrete lining orders for the tunnels. The company’s expertise in providing the concrete lining and track record in Singapore should give it an edge.
Hwang DBS Vickers Research said Kimlun was also bidding to supply RM160 million worth of precast concrete products to the Singapore MRT project. Its involvement in the Singapore project could strengthen its track record in grabbing a slice of the RM30 billion Malaysia’s MRT project identified under the “Greater KL” Entry Point Projects. The research firm said Kimlun delivered an above average net margin of 7% versus the construction sector’s 6% — it is more cost-efficient because of its upstream operation. It said Kimlun’s RM33.8 million net cash position (excluding proceeds from the listing exercise) and growing order book would provide visibility for the company’s earnings in the financial year ending Dec 31, 2011.
This article appeared in The Edge Financial Daily, October 13, 2010.

October 19, 2010

I receive my cheque from Nuffnang--RM109.40,come let's show your Nuffnang cheque faces here

Just got my Nuffnang Cheque, finally after waiting for more than 2 months due to Raya time.

Below is my Online Income so far this year 2010:


Nuffnang

1st cheque-RM49.28(March)
2nd cheque-RM58.90(May)
3rd cheque-RM109.40(July)
4th cheque coming-RM81.61(Sept)
campaign running now-RM33++(Oct)

Google Adsense
1st cashout-USD104.00(July)



2nd cashout soon-USD111.90(Oct)

I have an idea, let's all shown our Online Income cheque with faces hiding behind and share the experience with other new bloggers here.

October 18, 2010

ZHULIAN CORPORATION BERHAD Q3 2010

SUMMARY OF KEY FINANCIAL INFORMATION
31/08/2010

       
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
       
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
       
31/08/2010
31/08/2009
31/08/2010
31/08/2009
       
$$'000
$$'000
$$'000
$$'000
1Revenue
73,468
83,426
237,715
228,065
2Profit/(loss) before tax
23,962
29,486
76,075
71,553
3Profit/(loss) for the period
19,713
23,822
62,430
57,356
4Profit/(loss) attributable to ordinary equity holders of the parent
19,834
23,801
62,776
57,335
5Basic earnings/(loss) per share (Subunit)
4.31
5.17
13.65
12.46
6Proposed/Declared dividend per share (Subunit)
3.00
3.00
9.00
9.00








AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7Net assets per share attributable to ordinary equity holders of the parent ($$)
0.7424
0.9279

XINGQUAN INTERNATIONAL SPORTS HOLDINGS LIMITED

Type
:
Announcement
Subject
:
XINGQUAN INTERNATIONAL SPORTS HOLDINGS LIMITED (“XINGQUAN” OR THE “COMPANY”)

(I) PROPOSED SPONSORSHIP OF A TAIWAN DEPOSITARY RECEIPTS (“TDR”) PROGRAMME IN TAIWAN BY XINGQUAN (“PROPOSED TDR PROGRAMME”); AND

(II) PROPOSED ISSUE AND ALLOTMENT OF UP TO 46,099,500 NEW ORDINARY SHARES OF UNITED STATES DOLLAR (“USD”) 0.10 EACH IN XINGQUAN (“XINGQUAN SHARES”), AT AN ISSUE PRICE TO BE DETERMINED LATER, THAT REPRESENT THE UNDERLYING SHARES (“UNDERLYING SHARES”) FOR THE TDR TO BE ISSUED AND ALLOTTED IN TAIWAN IN CONNECTION WITH THE PROPOSED TDR PROGRAMME (“PROPOSED ISSUANCE”)

(COLLECTIVELY, (I) AND (II) ARE REFERRED TO AS THE “PROPOSALS”)

Contents
:
On behalf of the Board of Directors of Xingquan, CIMB Investment Bank Berhad wishes to announce that Xingquan proposes to implement a sponsorship of the TDR programme involving the issuance of TDR in Taiwan that represents up to 46,099,500 new Xingquan Shares amounting to 15.00% of the existing issued and paid-up share capital of Xingquan.

In conjunction thereto, Xingquan proposes to issue and allot up to 46,099,500 new Xingquan Shares that shall form the Underlying Shares for the issuance of TDR pursuant to the Proposed TDR Programme.

Attached is a copy of the announcement in respect of the Proposals.

This announcement is dated 18 October 2010.

Zhulian Q3 pre-tax profit falls to RM24m


Zhulian Corp Bhd's pre-tax profit for the third quarter ended Aug 31, 2010 fell to RM23.962 million from RM29.486 million in the corresponding quarter of 2009.

Revenue fell to RM73.468 million from RM83.426 million previously.
For the nine-month period, its pre-tax profit increased to RM76.075 million from RM71.553 million in the corresponding period of 2009 while revenue rose to RM237.715 million from RM228.065 million previously.

It declared a third interim single tier dividend of three sen per share, making the total so far to nine sen per share. It expected performance for the last quarter to be satisfactory. 

October 16, 2010

The New Buffettology

The New Buffettology
Author:Mary Buffett
(Author), David Clark
(Author)
Published: 2002
Publisher:Simon & Schuster (2002)
ISBN:978-0743231985

If you read the original Buffettology, you know exactly half of what you need to know to effectively apply Warren Buffett's investment strategies.
Published in 1997, the bestselling Buffettology was written specifically for investors in the midst of a long bull market. Since then we've seen the internet bubble burst, the collapse of Enron, and investors scrambling to move their assets -- what remains of them -- back to the safety of traditional blue chip companies. As price peaks turned into troughs, worried investors wondered if there was any constant in today's volatile market. The answer is yes: Warren Buffett's value investing strategies make money.
The New Buffettology is the first guide to Warren Buffett's selective contrarian investment strategy for exploiting down stocks -- a strategy that has made him the nation's second-richest person. Designed to teach investors how to decipher and use financial information the way Buffett himself does, this book guides investors through opportunity-rich bear markets, walking them step-by-step through the equations and formulas Buffett uses to determine what to buy, what to sell -- and when. Authors Mary Buffett and David Clark explore Buffett's recent investments in detail, proving time and again that his strategy has earned enormous profits at a time no one expects them to -- and with almost zero risk to his capital.
In short, The New Buffettology is an essential companion to the original Buffettology, a road map to investment success in the worst of times.

DRB-HICOM to make Potenza sports cars

DRB-HICOM Bhd (1619) yesterday sealed a firm agreement with Potenza Sports Cars Ltd to build the British sports car marque for domestic and Asia-Pacific markets.
The two companies signed an initial agreement in April followed by a feasibility study on the prospect of producing a new line of eco-friendly and affordable sports cars in Malaysia.

DRB-HICOM said in a statement that a joint-venture company will be set up. It will become the exclusive importer, manufacturer and distributor of the Potenza sports cars, including the electric and hybrid variants.

It will also export complete-knock-down (CKD) kits and components manufactured in Malaysia to Potenza for the assembly at its UK plant for the European and other potential markets.

The cars will be manufactured at the DRB-HICOM automotive complex in Pekan, Pahang, by subsidiary HICOM Automotive Manufacturers Malaysia Sdn Bhd.
"We expect production to begin by 2012," DRB-HICOM managing director Datuk Seri Mohd Khamil Jamil said in the statement.

Mohd Khamil said the joint venture would eventually see the development of a new range of technologically-advanced sports cars models manufactured locally.

"For DRB-HICOM, this is our giant step towards realising our vision of designing and developing our own brands of vehicles in cooperation with our global partners."

Potenza Sports Car chairman Frank Turner said the agreement will enable the expertise and resources of both partners to develop "an outstanding range of sports cars, not only for the growing Asia-Pacific market, but also for the rest of the world".

"One strength of the partnership embodied in the joint venture which became apparent during our negotiation was that we shared the same vision and values and this bodes well for our future together," Turner added.

DRB-HICOM has forged ties with several global players such as Audi, Mercedes-Benz, Honda, Suzuki, Mitsubishi, Isuzu and Mahindra as well as local players like Proton.

Last year, these brands captured 20 per cent of the country's total industry volume.

Potenza Sports Cars is part of the Potenza Group, which includes Potenza Technology and Potenza Enterprises.

The group is involved in technological development for aircraft and automotive applications, health care and orthopedics.

Potenza Sports Cars owns niche sports car manufacturers, Westfield Sportscars and GTM Cars.

It currently produces 300 to 400 vehicles per annum, sold in completely-built-up units and component forms.

CAPITAMALLS MALAYSIA TRUST

SUMMARY OF KEY FINANCIAL INFORMATION
30/09/2010

       
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
       
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
       
30/09/2010
30/09/2009
30/09/2010
30/09/2009
       
$$'000
$$'000
$$'000
$$'000
1Revenue
43,385
0
43,385
0
2Profit/(loss) before tax
81,285
0
81,285
0
3Profit/(loss) for the period
81,285
0
81,285
0
4Profit/(loss) attributable to ordinary equity holders of the parent
81,285
0
81,285
0
5Basic earnings/(loss) per share (Subunit)
6.02
0.00
6.02
0.00
6Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00

October 12, 2010

BERKSHIRE HATHAWAY letter to shareholders 1993


Pg1
it's per-share intrinsic value, not book value, that counts. Book value is an accounting term that measures the capital, including retained earnings, that has been put into a business.  Intrinsic value is a present-value estimate of the cash that can be taken out of a business during its remaining life

Coca-Cola and Gillette, both large holdings of ours, enjoyed
market price increases that dramatically outpaced their earnings
gains.

From 1991 to 1993, Coke and Gillette increased their annual
operating earnings per share by 38% and 37% respectively, but
their market prices moved up only 11% and 6%.  In other words,
the companies overperformed their stocks, a result that no doubt
partly reflects Wall Street's new apprehension about brand names.
Whatever the reason, what will count over time is the earnings
performance of these companies.

Coke went public in 1919 at $40 per share.  By the end of 1920 the market, coldly reevaluating Coke's future prospects, had battered the stock down
by more than 50%, to $19.50.  At yearend 1993, that single share,
with dividends reinvested, was worth more than $2.1 million.  As
Ben Graham said:  "In the short-run, the market is a voting
machine - reflecting a voter-registration test that requires only
money, not intelligence or emotional stability - but in the long-
run, the market is a weighing machine."

look-through earnings consist of: (1) the operating earnings reported in the previous section, plus; (2) the retained operating earnings of major 
investees that, under GAAP accounting, are not reflected in our 
profits, less; (3) an allowance for the tax that would be paid by 
Berkshire if these retained earnings of investees had instead been 
distributed to us.  The "operating earnings" of which we speak here 
exclude capital gains, special accounting items and major 
restructuring charges.
 
 
 
Employing data bases and statistical skills, these academics compute with precision the "beta" of a stock - its relative volatility in the past - and then build arcane investment and capital-allocation theories around this calculation.  In their hunger for a single statistic to measure 
risk, however, they forget a fundamental principle:  It is better 
to be approximately right than precisely wrong.

     In our opinion, the real risk that an investor must assess is
whether his aggregate after-tax receipts from an investment
(including those he receives on sale) will, over his prospective
holding period, give him at least as much purchasing power as he
had to begin with, plus a modest rate of interest on that initial
stake.

As Peter Lynch says, stocks of companies selling commodity-like products should come with a warning label:  "Competition may prove hazardous to human wealth."

The competitive strengths of a Coke or Gillette are obvious to 
even the casual observer of business.  Yet the beta of their stocks 
is similar to that of a great many run-of-the-mill companies who 
possess little or no competitive advantage.  Should we conclude 
from this similarity that the competitive strength of Coke and 
Gillette gains them nothing when business risk is being measured?  
Or should we conclude that the risk in owning a piece of a company 
- its stock - is somehow divorced from the long-term risk inherent 
in its business operations?  We believe neither conclusion makes 
sense and that equating beta with investment risk also makes no 
sense.
 
Another situation requiring wide diversification occurs when
an investor who does not understand the economics of specific
businesses nevertheless believes it in his interest to be a long-
term owner of American industry.  That investor should both own a
large number of equities and space out his purchases.  By
periodically investing in an index fund, for example, the know-
nothing investor can actually out-perform most investment
professionals.  Paradoxically, when "dumb" money acknowledges its
limitations, it ceases to be dumb.

     On the other hand, if you are a know-something investor, able
to understand business economics and to find five to ten sensibly-
priced companies that possess important long-term competitive
advantages, conventional diversification makes no sense for you. 

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