The Failing Malaysian IPO Scene in 2012-2013

Hardly Making IT

These last two years has not been kind to IPO subscribers.

Made It

Gone are the days when hitting an IPO share issue is likened to a little lottery win.

Non-Starter

I have gone through some unfortunate issues and so did many.

Nose Above Water

Let us reflect with the background of the sudden deferment of the listing of Ranhill Energy and Resources Berhad (Ranhill) on 29 July 2013.

Sad Development-Aborted Listing

For me, I had the misfortune of getting some IPO shares.

Bonanza for Subscribers

I recalled how excited I was when I got Eversendai, Eita Resorucrces, Astro Malaysia Holdings and UOA Development Berhad UOA). Sadly they all faltered and most were not in the money, so to say. I lost badly in some, particularly when UOA free-fell to about RM 1.20 and below! Imagine the IPO price of RM 2.52! Ananda Krishnan's Astro suckered many, felling as long as RM 2.70 when the IPO price was RM 3.00. Today it has recovered to RM 3.00; but you would still take a loss at this price after paying overhead trading charges.

From Hand to Mouth

Eversendai has never recovered from its IPO price losses. Even today, you still lose 7 sen at RM 1.63.  Recently listed Leon Fatt, a steel product trader listed at RM 0.60 sen but today, at 63 sen, you are down by 7 sen. The last to be listed were AAX and ABM Fujiya (Fujiya)-a battery manufacturer from Sarawak. AAX is still supported by a stabilizing mechanism  at its offer price of RM 1.25. Fujiya is  trading at the 59-60 sen level;shy of its IPO price by about 1 sen.

Going Nowhere

Eita Resources at an IPO price of 76 sen  is still at its IPO level today. What a let-down for an elevator manufacturing company that cannot ascend!

Shareholders Can't Fly Yet

The biggest debacle might just be Ranhill which had to defer its allotment and listing because of  a revocation by Petronas of the licence of its subsidiary because of non-disclosure of critical information.

Lethargy

The only bright sparks of the lot are MPHB Capital which has gone up by 53% of its IPO price to shareholders. It is currently trading at RM 1.53 sen; giving a bonanza to the MPHB shareholders who bought into the subscription exercise. FGV which listed at an IPO price of RM 4.45 had breached the RM 5 level but today its sulking at a dim price of RM 4.49 level, with a big fat zero gain after deducting for trading overheads. Tune Insurance with an IPO price of RM 1.35, however, is doing pretty well just above RM 2.00 level. Will it gain traction and move forward?

So, what do you now think of Sona Petroleum ? Will this SPV get premium prices from a dull Bursa with massive selling of bluechips by foreign funds except for government held securities such as Maybank, Sime Darby and Tenaga?

Winner or Loser?

Would be interesting to see what Sona will fetch on July 30th.

Sonia opened with a 20 sen gain on its warrants and mother share.

As for Ranhill, it has aborted its listing.

The Jazz Singer

Tradition and the Jazz Singer

This 1927 production is that so-called transitional silent movie that transcends the silent movie era into talkies.

Here, for the first time Al Johnson sang 6 songs in a "silent" movie.

Today, The Jazz Singer is considered one of the best movies to have come out from the American film studios.

Roughly based on a fictional story of a Jewish family called Rabbanowich who upholds tenaciously the songs of the Sabbath Jack, played by Al Jolson,was caught in two difficult places-to pursue his dream to be a famous Broadway jazz singer or to stick to the tradition of the Jews to sing only in the synagogues.

Good editing for a movie from yesteryear!

Song Without End

This is a film rendition of Hungarian composer and virtuoso, Franz Liszt.

Charming

It is a dramatic biopic  with a romance thrown in with the Russian Princess Carolyne played by the adorable Capucine.

Attractive

Like most of biopics about musicians, there is that portfolio of music that they play which entertains.

Playing the lead is Dirk Bogarde with Geraldine Page as his much distressed wife.

The Stars

5 Misses for Miss Malaysia Pageant 2013

Few Misses are Missing!

A Muslim religious edict has done in  four Muslim participants of the current Miss Malaysia pageant.

What a hullabaloo it has made with both sides of the divide standing firm.

Forlorn

A Babe on Broadway

An Absolute Babe

Babes on Broadway will feature the famous duo, Judy Garland and Mickey Rooney in a movie that ranges from tap-dancing to vaudeville minstrel performance.

Broadway Wannabees 

Smouldering

Though the songs may not be as memorable or catchy, it does have that special Broadway magic that will bowl you over if you are an aficionado of Broadway matinees.

Natural Beauty

In this movie, you will see Judy Garland  in a more adolescent role which will see her successful ascent into filmdom, showmanship and singing.

Youthful vigour

Quite an enjoyable fare as you trudged back into nostalgia.

Napoli It Is!

This a Definitely a Sophia Fan Movie!

Sophia is Splendid!

I always remembered seeing this movie. Perhaps in the early teens, one can really get enamored by interesting scenery, bigger than life actors and serene beauties.

Naples Today

For me, It Started in Naples may not bring the nostalgic times of yesteryear back as my memory on the plot-line has faded into distant oblivion but seeing the unspoiled beauty of Capri and Naples in the late 50's in motion is really breath-taking especially the Blue Cave, the Naples seafront and the quaint not too developed Isle of Capri.

Scenic Capri

The plot is simple. A man trying to wrap up the affairs of his brother's estate after his drowning in Naples was compelled to enjoy the life on Capri and fell in love with a local beauty Lucia who has custody of his brother's son, Fernando.

The Balloons of Capri

I must admit the audience in the 60s really had the patience to lick up the pedantic dialogue in this movie. Not today. It would be a big flop even it it has such great names like Clark Gable. Remember Heaven's Gate?

That's Beauty for You

What you will treasure in this movie is watching a young, nubile Sophia Loren doing her cheeky dance on a cabaret floor! Charmed!

Young and Dangerous Sophia

That is enough for you to re-visit It Started in Naples!

Cabaret Dancing

Now You See Me, Now You See Cash!

Revenge, Money and Magic

Premised on an outrageous plot-line, Now You See Me is a movie about the revenge of a  magician on the rich.

Banding together 4 magicians to assist him in his scheme, the revengeful magician incognito orchestrated shows to rob money from the banks  and then distribute the bank cash to the audience.

A cat and mouse story starring the august Morgan Freeman, Mark Ruffalo, Jess Eisenberg, Isla Fisher and Dave Franco, it has its exciting moments.

The actress to watch will be Melanie Laurent.

Fresh New French Beauty