2 March 2012

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HUAT AR! first time open thread. [You must be registered and logged in to see this image.]

Hoosay lar Mabs!!!

reps for being early!!!
morning!

happy morning traders from BC, ensure you spot and ride the dragon

Market Thoughts

US stocks logged a gain on the first day of March, but still finished off their best levels following some unconfirmed reports, later denied, of a Saudi pipeline explosion. Approximately 40 minutes before the market closed, an Iranian media report of an explosion on an unknown Saudi oil pipeline propelled crude prices to over $110 a barrel, while pushing stocks briefly into negative territory.

Meanwhile, European shares closed up after a firm reading of weekly jobless claims in the United States provided a boost for stocks. Gains were capped by worse-than-expected manufacturing data from the United States however, which cast a shadow on expectations that the world's largest economy was on a steady recovery path.

On the local market, we expect the FBM KLCI to remain sideways with a positive bias. The index could be on its way to retest its all time high at 1597 points.

Malaysia News & Highlights

DRB-HICOM reviewing 3 rival plans for Proton
DRB-HICOM Bhd, the country’s biggest automotive company by sales volume, is evaluating three rival plans for Proton Holdings Bhd put forward by some of the world’s biggest players. Business Times understands that General Motors Corp plans to make a pitch to gain control of half of Proton’s production lines at its factory in Tanjung Malim, Perak. (Source: Business Times)

MAS may make cash call
Malaysian Airline System Bhd (MAS) might ask its shareholders to pump in more money into the company via a cash call exercise, analysts speculated yesterday. Among the national carrier’s biggest shareholders are the government-linked Khazanah Nasional Bhd and the Employees Provident Fund. Collectively, the two control about 58 per cent of the company, with Khazanah owning the lion’s share of the airline. (Source: Business Times)

Proton's quality expert resigns
Proton Holdings Bhd senior director, group operations, Wolfgang Karl Epple, has tendered in his resignation, almost three years after driving forward the carmaker's quality initiatives. His resignation was confirmed by Proton's head of group communications, Muhammad Amyzaddin Raya. Muhammad Amyzaddin said Epple informed Proton that his resignation was due to his intention to take up another challenge in the automotive industry closer to home in Europe. (Source: Business Times)

TNB withdraws suit against Integrax
Tenaga Nasional Bhd (TNB) has withdrawn a suit against Integrax Bhd and seven others. Tenaga Nasional owns a 22% stake in Integrax. “Under the guidance of a united board of directors and the management of a new executive director, Integrax can now focus on developing and growing its business for the benefit of all its shareholders and stakeholders,” the company said in an announcement to Bursa Malaysia. On May 10, 2011 Integrax had received a sealed writ of summons and statement of claim from TNB. (Source: The Star)

CIMB signs MoU on purchase of RBS’ Asia-Pac ops
The CIMB Group has signed a memorandum of understanding (MoU) for the proposed acquisition of certain cash equities, equity capital markets and corporate finance businesses of The Royal Bank of Scotland (RBC) in the Asia-Pacific. (Source: The Star)

Sunway eyes Iskandar expansion
Sunway Bhd plans to more than double the size of its landbank in Medini Iskandar, raising it to around 2,000 acres from the already-announced acquisition of around 700 acres, industry sources said. “The project will be a significant one and Sunway hopes to differentiate itself from other developments in Iskandar with a unique offering, targeting very much the Singapore market,” said one source. (Source: The Star)

Nitrile glove price war soon
A nitrile glove price war will begin in the second half of this year as nitrile latex suppliers have over-expanded their capacity, said Supermax Corp Bhd executive chairman and group managing director Datuk Seri Stanley Thai. Thai said that for this year, there would be additional 250,000 wet tonnes of nitrile latex available in the market. “Margins of nitrile gloves could be lower than the competitive level of 11% to 15% this year, taking into account production from Indonesia and Thailand as well,” he said at the company's media and analyst briefing. (Source: The Star)

Foreign News

U.S. Stocks Advance Amid Bank Rally
U.S. stocks advanced, sending the Standard & Poor’s 500 Index to the highest level since 2008, amid a rally in financial shares and after government data showed that jobless claims declined to a four-year low. The S&P 500 added 0.6 percent to 1,374.09 at 4 p.m. New York time, after a three-month gain. The Dow Jones Industrial Average rose 28.23 points, or 0.2 percent, to 12,980.30.

Manufacturing in U.S. Expands at Slower Pace; Jobless Claims Fall: Economy
Manufacturing in the U.S. grew less than forecast in February as orders eased, slowing the industry that has powered the two-year expansion. The Institute for Supply Management’s factory index fell to 52.4 from 54.1 in January, the Tempe, Arizona-based group said today.

European Stocks Rise as Spanish, French Borrowing Costs Drop; Veolia Jumps
European stocks rose, extending the Stoxx Europe 600 Index’s best start to a year since 1998, as Spanish and French borrowing costs dropped and a report showed initial jobless claims fell to a four-year low in the U.S. The Stoxx 600 advanced 1 percent to 267.06 at the close. The gauge climbed 3.9 percent last month and rose 8.1 percent from the beginning of the year through yesterday.

Oil Rises to $110 on Report of Pipeline Explosion
Oil climbed over $110 a barrel for the first time since May after an Iranian state-run news channel reported an explosion on a pipeline in Saudi Arabia. A Saudi official said no oil facilities were sabotaged. Futures reached $110.55 at 3:17 p.m. in New York after Iran’s Press TV reported on its English-language website that “an explosion has hit oil pipelines in the flashpoint Saudi Arabian city of Awwamiya,” then fell back below $109.

(Source: Bloomberg)

kppl80 wrote:reps for being early!!!
morning!

thank u. [You must be registered and logged in to see this image.]

Good morning Max sifu and comrades [You must be registered and logged in to see this image.]

Thanks Mabs for the news flash [You must be registered and logged in to see this image.]

morning

morning all[You must be registered and logged in to see this image.]

good morning money![You must be registered and logged in to see this image.]

Greetings to all,

Remember, your mental limitations are of your own making.

For years, athletes attempted to run a mile in four minutes but it seemed to be a barrier that no one could overcome. Then on May 6, 1954, a British runner named Roger Gilbert Bannister ran a mile in 3:59.4 minutes to establish a world record. Soon afterward, other runners broke Bannister’s record. Too often, we accept conventional wisdom as fact. Make sure you set your goals high enough. Don’t settle for less because of limitations you place upon yourself. Most of us never really reach the level of achievement of which we are capable because we don’t challenge ourselves to do so. Perhaps Robert Browning said it best: “A man’s reach should exceed his grasp, / Or what’s a heaven for?”

good morning!!!!!

u eno no watch?

alorrr

me?

muahhahah :P

Is in my watch list, some 3k and 5k lots at 1 go were walopped yesterday. I think is brewing to explode today

dksh!

busy morning

30 min hit 6 stocks multiple times [You must be registered and logged in to see this image.]

if break rm2 then hossay d!

Sime flying non stop for the 3rd day.........

rm2!!!!!

hurrm pak max mane?