Yes, everyday they are at it.
The Predator and Alien.
Remember these two silver screen creatures? One was made famous by Arnold Muscleman from Austria alias Gubernator and the other by Sigourney Weaver.
The same goes on everyday on Bursa KL. Big bad Mama of a player that is Predator is no other than nasty EPF seeking profits at the expense of the other players. Smart alecs-this EPF player. They dump shares until almost kingdom come, like in search of prey. Some can withstand it, others will fell by the wayside.
Everyday I see EPF throwing YTL Corp shares down the chute in search of better prey such as KLK and KLCCP.
Meanwhile, YTL Corp goes on a vacuuming spree trying to take out this Predator.
Yesterday, YTL Corp hiked the shares up by 4 sen with the last two lots done. Expect a fall this morning.
Most likely-unless EPF has sold out what it wanted to through its selling agents.
Do we expect any signs of cessation, EPF?
PS:
FYI, the last 2 days saw EPF buying in 2 million YTL Corp shares.
Change of heart, EPF?
June 15, 2011
June 14, 2011
MSM Prices IPO at RM3.50-Fair Price?
I do hope MSM will not do the hop,skip and jump down the gutter like UOA Development. And hopefully too-not like XOX which is at sea or worse, gone to sea, after plunging almost 35% on the first day of listing. I think it could be the unjustified rich valuation which have been the cause though not the main one. The culprits are short sellers having a field day on their keyboards selling down these shares till they arrived ' in Holland'. Definitely the case with UOA Development which is a more solid counter with EPF as the cornerstone player.
Now, back to MSM.
MSM , has priced its IPO at RM3.50 per share for institutional investors, said a source with direct knowledge of the deal.
The price is at the top end of the RM3.30-RM3.50 range set earlier, valuing the IPO at about
RM817mil.
MSM is selling about 234 million shares in the IPO. The institutional portion would comprise about 206 million shares or 29.4% of the enlarged share capital.
The retail portion would consist of about 28 million shares or 4% of the enlarged share capital.
“Basically, everyone bid the whole book because they knew it was oversubscribed and they wouldn’t get any shares,” said a fund manager.
Funds raised will be used for capital expenditure and working capital requirements.
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Stocks
June 13, 2011
Pay PUSPAKOM the Pipe Piper
Yes, the government loves a happy winner;not an unhappy whiner!
At the way things are going, more people will become unhappy.
Apparently come dawn tomorrow,all second hand car dealers-mostly companies- or those who need to use bank borrowing to buy second hand cars will have to pay the piper-namely, PUSPAKOM for some additional inspection.
In my case,as a lumpen proletariat, I had this privilege to own a more than 15 year-old car. My usual car insurance company have decided this car and the other one I have, which is also more than a decade old, is not worth them taking any risk on.
As I have to change road tax every year for putting my car on the road, this year will be my watershed year. If my current insurance company do not want to insure my car anymore, than I can only take a third-party insurance.Before a third party insurance can be given, my car must undergo a PUSPAKOM once-over. So, I would have to cough out some money for this inspection to fatten the coffers of this company.
So now let us hear from PUSPAKOM on their brand-new source of income besides ripping off cash from yours truly.
" Puspakom set up new inspection centres and upgraded existing ones to ease the transition to the Hire Purchase Inspection (HPI) regulation that will take effect tomorrow.
It added inspection lanes in Glenmarie, Wangsa Maju, Sungai Petani, Padang Jawa and Kuching to increase the number of cars it could inspect.
It set up new centres in Taman Bukit Maluri, Pandan Mewah, Jalan Tandang (Petaling Jaya), Batu Caves, Taman Daya (Johor Baru) and Pengkalan Chepa (Kelantan).
The new regulation requires Puspakom to inspect used cars before they can be sold to another person.
The regulation requires an additional 14-point check (B7) on top of the standard four-point check (B5) in practice for many years.
Puspakom chief executive officer Hisham Othman said some inspection centres would open on weekends.
"We revised the operating hours of some centres and they may even remain open until midnight."
Hisham said there were no legal obligations for Puspakom to perform the upgrades and to extend its service hours, but felt it would be necessary to ease the transition to the new regulation.
He said Puspakom had spent RM20 billion this year in upgrades and added 121 staff to carry out inspections.
"We brought in new machines from France that will improve efficiency and reduce cost in the long run."
He said it was important to note that the new ruling was passed by Parliament last year.
"Puspakom was merely the agency appointed to oversee the enforcement of the act. Parliament had discussed at length the amendment to the Hire Purchase Act, which will finally be carried out (tomorrow) to safeguard the public's interest."
Because only car sales involving financing from banks are affected by the amendment, cash-based hire purchase agreements do not need to go through the HPI procedure.
Hisham said cars needed to be inspected only once and the B7 inspection report would need to be produced to banks upon buyers' request for financing from banks or anywhere else.
"The reason for this is because banks would want to know the condition of the cars they are financing."
"Buyers, on the other hand, would not want to be duped into buying a 'lemon', and spend more money to fix malfunctioning parts."
He said the worst-case scenario was people buying a cut-and-joined car, where either the front or rear half of another car had been welded to it. "Last year, we discovered more than 1,200 cut-and-joined cars.
"Either way, cars that are not properly serviced, or have their structural integrity compromised, are unsafe."
He said there were around 495,000 transactions made to change vehicle ownership on a consumer level every year.
Hisham added that Puspakom staff were well-qualified and were monitored by the Road Transport Department and other government agencies.
"If the public believe that Puspakom staff did not act with professionalism and integrity, they can complain to the authorities."
The public can call 1-800-88-6927 for information.
At the way things are going, more people will become unhappy.
Apparently come dawn tomorrow,all second hand car dealers-mostly companies- or those who need to use bank borrowing to buy second hand cars will have to pay the piper-namely, PUSPAKOM for some additional inspection.
In my case,as a lumpen proletariat, I had this privilege to own a more than 15 year-old car. My usual car insurance company have decided this car and the other one I have, which is also more than a decade old, is not worth them taking any risk on.
As I have to change road tax every year for putting my car on the road, this year will be my watershed year. If my current insurance company do not want to insure my car anymore, than I can only take a third-party insurance.Before a third party insurance can be given, my car must undergo a PUSPAKOM once-over. So, I would have to cough out some money for this inspection to fatten the coffers of this company.
So now let us hear from PUSPAKOM on their brand-new source of income besides ripping off cash from yours truly.
" Puspakom set up new inspection centres and upgraded existing ones to ease the transition to the Hire Purchase Inspection (HPI) regulation that will take effect tomorrow.
It added inspection lanes in Glenmarie, Wangsa Maju, Sungai Petani, Padang Jawa and Kuching to increase the number of cars it could inspect.
It set up new centres in Taman Bukit Maluri, Pandan Mewah, Jalan Tandang (Petaling Jaya), Batu Caves, Taman Daya (Johor Baru) and Pengkalan Chepa (Kelantan).
The new regulation requires Puspakom to inspect used cars before they can be sold to another person.
The regulation requires an additional 14-point check (B7) on top of the standard four-point check (B5) in practice for many years.
Puspakom chief executive officer Hisham Othman said some inspection centres would open on weekends.
"We revised the operating hours of some centres and they may even remain open until midnight."
Hisham said there were no legal obligations for Puspakom to perform the upgrades and to extend its service hours, but felt it would be necessary to ease the transition to the new regulation.
He said Puspakom had spent RM20 billion this year in upgrades and added 121 staff to carry out inspections.
"We brought in new machines from France that will improve efficiency and reduce cost in the long run."
He said it was important to note that the new ruling was passed by Parliament last year.
"Puspakom was merely the agency appointed to oversee the enforcement of the act. Parliament had discussed at length the amendment to the Hire Purchase Act, which will finally be carried out (tomorrow) to safeguard the public's interest."
Because only car sales involving financing from banks are affected by the amendment, cash-based hire purchase agreements do not need to go through the HPI procedure.
Hisham said cars needed to be inspected only once and the B7 inspection report would need to be produced to banks upon buyers' request for financing from banks or anywhere else.
"The reason for this is because banks would want to know the condition of the cars they are financing."
"Buyers, on the other hand, would not want to be duped into buying a 'lemon', and spend more money to fix malfunctioning parts."
He said the worst-case scenario was people buying a cut-and-joined car, where either the front or rear half of another car had been welded to it. "Last year, we discovered more than 1,200 cut-and-joined cars.
"Either way, cars that are not properly serviced, or have their structural integrity compromised, are unsafe."
He said there were around 495,000 transactions made to change vehicle ownership on a consumer level every year.
Hisham added that Puspakom staff were well-qualified and were monitored by the Road Transport Department and other government agencies.
"If the public believe that Puspakom staff did not act with professionalism and integrity, they can complain to the authorities."
The public can call 1-800-88-6927 for information.
Labels:
Perspectives
UOA Development Berhad-An IPO Folly?
Well, what do you know!
After all the hype and the IB analysts' medicine-men talk, we ran off to the ATM to apply for this share purportedly a great buy. Though we had a nagging concern over its 5 sen par tag,we believed it was relatively a technical matter and most IB said it was of little concern anyway.
After the book-building the share price was now adjusted to RM2.60 for the institutional buyers while retail buyers got it for RM2.52 with a cash return of RM380.
With baited breath, we awaited the opening price on opening day which the analysts said will be about RM3.20. Starting at RM2.62, it went hay-wire and slid. It was a really dog day for us minority shareholders!
It is now at a new low of RM2.45 even after the parent company in Australia upped its holding while the local counterpart also pitched in.
So, who is selling? Suckers..............?
Something is amiss! Is it an IPO folly?
After all the hype and the IB analysts' medicine-men talk, we ran off to the ATM to apply for this share purportedly a great buy. Though we had a nagging concern over its 5 sen par tag,we believed it was relatively a technical matter and most IB said it was of little concern anyway.
After the book-building the share price was now adjusted to RM2.60 for the institutional buyers while retail buyers got it for RM2.52 with a cash return of RM380.
With baited breath, we awaited the opening price on opening day which the analysts said will be about RM3.20. Starting at RM2.62, it went hay-wire and slid. It was a really dog day for us minority shareholders!
It is now at a new low of RM2.45 even after the parent company in Australia upped its holding while the local counterpart also pitched in.
So, who is selling? Suckers..............?
Something is amiss! Is it an IPO folly?
Labels:
Stocks
June 10, 2011
Wanna Serve on the Film Censorship Board?
These days, the civil service is extra efficient.
Rakyat didahulukan! Prestasi diutamakan!
Sometime in the first brand new days of June, I received a phone call.
"Could you attend an interview for the post of Member of the Film Censorship Board on such and such a day?"
No formal letter. They want to save the jungle and prevent global warming!
Yes, I did remember downloading the forms from the Website of the Home Affairs Ministry to apply for this post.
" Boleh....." I replied.
" Lamakah interview ini?"
" Biasnya 2 jam". Hum, mighty long time for an interview....I thought.
So, on the fateful day, I found myself in the ever majestic Putrajaya.
There were about half a dozen of us milling about the interview area.Mostly senior citizens; mostly with X generation values!
The Secretariat then invited us in. We were given specific chairs to sit on.
The Secretariat Chief then informed us that this was not going to be an ordinary interview but more of a discussion. We were there to share our views.
Everything was hunky dory until......
I was then told to do a translation of a short text from Bahasa Malaysia to Chinese.
I was definitely a non-starter!
So, I translated in English. Whatever they wanted to do with my translation, its theirs to decide. As far as I was concerned, I was never ever gonna be a Chinese based Censorship member. Just won't cut! Not at the Censorship Board.
Heard that of 5 Chinese candidates, four of them could not do the translation. For the two candidates whom they called for Indian Censorship membership, only one spoke Tamil,' like drinking water'. Sure, he gonna get the job!
So, there goes another bit of my life spent in the pursuit of humble irrelevance.
Anyway, you would never know. As a Christian, I do believe this.
"If God is for you, who can be against you?"
So, maybe once of those current serving members may just quit and they could just called me to take over pronto!
Life can be full of surprises, don't you agree?
Rakyat didahulukan! Prestasi diutamakan!
Sometime in the first brand new days of June, I received a phone call.
"Could you attend an interview for the post of Member of the Film Censorship Board on such and such a day?"
No formal letter. They want to save the jungle and prevent global warming!
Yes, I did remember downloading the forms from the Website of the Home Affairs Ministry to apply for this post.
" Boleh....." I replied.
" Lamakah interview ini?"
" Biasnya 2 jam". Hum, mighty long time for an interview....I thought.
So, on the fateful day, I found myself in the ever majestic Putrajaya.
There were about half a dozen of us milling about the interview area.Mostly senior citizens; mostly with X generation values!
The Secretariat then invited us in. We were given specific chairs to sit on.
The Secretariat Chief then informed us that this was not going to be an ordinary interview but more of a discussion. We were there to share our views.
Everything was hunky dory until......
I was then told to do a translation of a short text from Bahasa Malaysia to Chinese.
I was definitely a non-starter!
So, I translated in English. Whatever they wanted to do with my translation, its theirs to decide. As far as I was concerned, I was never ever gonna be a Chinese based Censorship member. Just won't cut! Not at the Censorship Board.
Heard that of 5 Chinese candidates, four of them could not do the translation. For the two candidates whom they called for Indian Censorship membership, only one spoke Tamil,' like drinking water'. Sure, he gonna get the job!
So, there goes another bit of my life spent in the pursuit of humble irrelevance.
Anyway, you would never know. As a Christian, I do believe this.
"If God is for you, who can be against you?"
So, maybe once of those current serving members may just quit and they could just called me to take over pronto!
Life can be full of surprises, don't you agree?
Labels:
Perspectives
EPF-Stabiliser or Destabiliser?
This is one interesting question as EPF is a juggernaut of a giant which can virtually move mountains as far as BSKL is concerned.
I have been observing its actions lately. True, it made smart moves based on the dynamics of the market. Lately it has made small cute purchases as well as sold in large chunks.
Case in point-Ever since YTL Corp splitted its share into 5, EPF was in the market selling an enormous amount of it. To ensure that the price can be 'protected' so as not to lose its fair value, YTL Corp has also been in the market mopping up the shares thrown out by EPF. The share price has been gravitating because of EPF and bargain hunters had a field day almost all of May until the first week of June. It is only today that the Treasury buy-in by YTLCorp could stave off the mincing effect of the diabolical EPF.
Interestingly, it has switched tacks. Now, it is starting to purchase small buy-ins into KLCCP and KLK. Both are tightly held and I guess with little 'float'.
As I would expect their selling of YTLCorp to taper off, providing some relief and respite from those buyers at YTLCorp, we could expect some upward action particularly in KLK and KLCCP.
EPF is no stabiliser. It is a destabiliser.
It is fortunate that we allow Treasury buy-ins on BSKL; otherwise EPF could really turn into some sort of 'rogue trader'!
So, watch these counters as EPF displays its devilish 'puppet master' stunts!
I have been observing its actions lately. True, it made smart moves based on the dynamics of the market. Lately it has made small cute purchases as well as sold in large chunks.
Case in point-Ever since YTL Corp splitted its share into 5, EPF was in the market selling an enormous amount of it. To ensure that the price can be 'protected' so as not to lose its fair value, YTL Corp has also been in the market mopping up the shares thrown out by EPF. The share price has been gravitating because of EPF and bargain hunters had a field day almost all of May until the first week of June. It is only today that the Treasury buy-in by YTLCorp could stave off the mincing effect of the diabolical EPF.
Interestingly, it has switched tacks. Now, it is starting to purchase small buy-ins into KLCCP and KLK. Both are tightly held and I guess with little 'float'.
As I would expect their selling of YTLCorp to taper off, providing some relief and respite from those buyers at YTLCorp, we could expect some upward action particularly in KLK and KLCCP.
EPF is no stabiliser. It is a destabiliser.
It is fortunate that we allow Treasury buy-ins on BSKL; otherwise EPF could really turn into some sort of 'rogue trader'!
So, watch these counters as EPF displays its devilish 'puppet master' stunts!
Labels:
Stocks
June 09, 2011
Maiden Interim Dividend for Berjaya Foods
For shareholders of Berjaya Foods Berhad (BFood), it has been one roller-coaster ride. Prices started at 50+ sen on opening day before going hyper to touche the highof the RM1.20s. Today it is languishing at the upper 80 levels. Poor show,Vincent.
Held 75% by Berjaya Corporation (BJCorp), BFood today consists of only Kenny Rogers Restaurants (KRR) within the boundaries of Malaysia. The franchise outside Malaysia especially China where BJCorp is thinking seriously of venturing into belongs wholly to BJCorp itself.
There are a few hurdles that BFoods have to overcome. First, it must buy back the3 franchised restaurants so that the brand will be wholly managed by BFoods. This is important to maintain quality ad image. Secondly, they may have to venture outside the shopping complexes to seek the walk in customers just like KFC and Old Town outlets.
Bearing the lousy share price, the fact that BFoods will be paying its maiden interim dividend of a single-tiered 3% is good news. Though performance when compared to the previous year is not too good, I think KRR will see the company through for the year.l.
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