23rd October 2012

Long time no open thread for BC. Now I open so that everyone huat today! Curi-curi from Bursa but a reminder to all and myself, be careful!

you should let me continue open thread, coz the market hot and huat after i open yesterday [You must be registered and logged in to see this image.]

morning

mornin traders and + for thread starter, we see market going flat then till end of week thurs

Pelikan: China Stationary to acquire 9.8% equity interest

Pelikan: China Stationary to acquire 9.8% equity interest
China Stationary Ltd (CSL) has proposed to acquired 50m shares in Pelikan International Corp
Bhd, representing 9.79% equity interest, from Mahir Agresif (M) Sdn Bhd and Persada Bina Sdn
Bhd for RM50m. CSL, in a filing to Bursa Malaysia, said the proposed acquisition will be satisfied
by the issuance of up to 47,169,812 new shares at RM1.06 per share and an additional 3m new
shares as payment for the professional fees. (Financial Daily)

Most Asia Stocks Drop, Led by Japan Utilities on Dividend
By Jonathan Burgos and Satoshi Kawano - Oct 23, 2012 8:35 AM GMT+0800

Most Asian stocks fell led by Japanese nuclear power generators after a report Kansai Electric Power Co. won’t pay a dividend and as Korea’s Posco (005490) dropped on a credit rating downgrade by Standard & Poor’s Ratings Services.
The MSCI Asia Pacific Index (MXAP) added 0.1 percent to 123.26 as of 9:34 a.m. in Tokyo, with about eight shares dropping for every seven that fell. The gauge rebounded 13 percent from this year’s low on June 4 through yesterday as stimulus measures in Europe, the U.S., Japan and China boosted market sentiment amid a global economic slowdown and Europe’s debt crisis.
To contact the reporters on this story: Jonathan Burgos in Singapore at [You must be registered and logged in to see this link.]; Satoshi Kawano in Tokyo at [You must be registered and logged in to see this link.]
To contact the editor responsible for this story: Nick Gentle at [You must be registered and logged in to see this link.]

drb-CJ not for the faint hearted for ex 30/11

Company Financial quarter Date
DiGi.com 3QFY12 results 23 October 2012

Company Date Time
DiGi.com (Conference call) 23 October 2012 4.00pm

suddenly market awake we are green

1662.47 +0.52

Asian Stocks Swing Between Gains, Losses on Earnings
By Jonathan Burgos - Oct 23, 2012 9:23 AM GMT+0800

Asian stocks swung between gains and losses amid concern over slowing corporate earnings growth and as Europe struggles to contain its debt crisis.
Acer Inc. slid 3.3 percent in Taipei after Asia’s second- largest computer maker posted third-quarter profit that missed estimates. Kansai Electric Power Co. (9503) sank 7 percent after the Nikkei newspaper reported the Japanese utility won’t pay a dividend. LG Display Co., the world’s No. 2 maker of liquid- crystal displays, climbed 2.2 percent in Seoul after a U.S. court ruled that it didn’t violate a patent owned by Industrial Technology Research Institute.
The MSCI Asia Pacific Index (MXAP) lost 0.1 percent to 123.03 as of 10:18 a.m. in Tokyo, erasing gains of as much as 0.3 percent. About five shares dropped for every three that rose on the measure. The gauge rebounded 13 percent from this year’s low on June 4 through yesterday as stimulus measures in the U.S., Japan and China boosted market sentiment amid a global economic slowdown and Europe’s debt crisis. Moody’s Investors Service lowered it credit ratings on Catalonia and four other Spanish regions.
“External factors such as the European debt crisis and the U.S. elections are still the biggest risks for the market,” said Angus Gluskie, managing director at White Funds Management in Sydney, which manages more than $350 million. “Earnings are hostage to these macroeconomic factors.”
To contact the reporter on this story: Jonathan Burgos in Singapore at [You must be registered and logged in to see this link.]
To contact the editor responsible for this story: Nick Gentle at [You must be registered and logged in to see this link.]

mau election la everyday green

aam wrote:mau election la everyday green

Penta, rumors said get project from apple? anyone know anythings?

selamat pagi...this morning itronic chao....[You must be registered and logged in to see this image.]

morning BC~~

mornin all , penta not sure

KLCI testing the linessss

testing day high now

morning BC comrades [You must be registered and logged in to see this image.]
Anyone using hlb & encounter problem accessing ur trading screen ? Seems HLB trading server is down [You must be registered and logged in to see this image.]

Cals wrote:testing day high now

sudah pecah, will it grind higher??

got prob posting pics here or else i post my screenies

Market Thoughts
US stocks recovered from their lows in the final hour of trading to finish in positive territory Monday as energy
and industrials led the laggards, while techs edged higher. However, European shares fell after U.S. industrial
bellwether Caterpillar joined other multinational manufacturers in giving a sobering take on the outlook for the
global economy.

On the local market, the FBM KLCI lost 4.40 points to 1661.95 points to retrace from a record high of 1670
points last week. Market direction will continue to be influenced by US corporate earnings as well as other
economic data namely, housing data on Wednesday and third quarter GDP on Friday.

Malaysia News & Highlights
Petronas to appeal Canada’s rejection of RM16bil takeover of Progress
It's not over for Petroliam Nasional Bhd (Petronas). While Canada's surprise rejection of the national oil
corporation's US$5.2bil (RM16bil) bid for gas producer Progress Energy Resources may have doused hopes for
its largest-ever overseas acquisition, the company has 30 days to appeal the decision and do whatever it takes
to seal the deal. Petronas did not release a statement on its next course of action yesterday, but Progress chief
executive Michael Culbert has been quoted as saying he was disappointed with the ruling and that the firm
would use the next month to determine what concerns led to it and the potential remedies. (Source: The Star)

Astro shares take a beating, end 7.7pc lower
Shares of pay-tv operator Astro Malaysia Holdings Bhd took a beating on its second day of trade in the stock
market, falling as much as nine per cent below its initial public offering price of RM3.00. Astro's shares, which
fell to an intra-day low of RM2.73, closed the day 23 sen (or 7.7 per cent) lower to RM2.77. (Source: Business
Times)

China Stationery buying 9.8pc of Pelikan
China Stationery Ltd (CSL), which holds the largest market share for stationery files in China, is buying a 9.79
per cent stake in Pelikan International Corp Bhd for RM50 million via a share swap deal. The company, the most
valuable China-based firm listed on Bursa Malaysia with a market capitalisation of RM1.26 billion, said the deal
will be done via the issuance of 47.169 million new CSL shares . CSL shares are priced at RM1.06 a piece, while
those of Pelikan are valued at about RM1 a piece. Yesterday, CSL and Pelikan closed at RM1.06 and 74 sen,
respectively. (Source: Business Times)

BAT shares ease after product price hike
Malaysia's biggest cigarette-maker British American Tobacco Malaysia Bhd (BAT) saw its stock trade lower by 14
sen yesterday, after announcing on Sunday that it is raising its product prices by 20 sen. Its rival, JT
International Bhd (JTI), also saw its share price fall slightly. JTI and another rival, Philip Morris Sdn Bhd,
however have yet to follow suit with their price hikes. BAT's managing director Willian Toh said the reason for
the price increase was because the Royal Malaysian Customs (RMC) had mandated an uplift in the ex-factory
pricing of its cigarettes of between 25 per cent and and 58 per cent, effective last Friday. (Source: Business
Times)

313.89m units of IGB REIT traded off mart
IGB Real Estate Investment Trust (IGB REIT) saw 313.89 million units transacted in several off-market deals.
The shares were traded off market at RM1.25 a share, which was 12 sen below its closing price of RM1.37 a
share. (Source: Business Times)

Genting power unit sold to 1MD for RM2.3b
Genting Bhd sold off its power business to 1Malaysia Development Bhd (1MD) for RM2.3 billion, it told the stock
exchange yesterday. The sale done, via the disposal of a 97.7 per cent stake in Mastika Lagenda Sdn Bhd and
its three subsidiaries, Genting Sanyen Power Sdn Bhd, Mastika Utilities & Services Sdn Bhd and Mastika Water
Management Sdn Bhd. (Source: Business Times)

Bank Negara issues new syariah standards
Bank Negara Malaysia yesterday announced syariah standards to assist financial institutions, under its purview, develop Islamic financial products and services based on mudarabah. The syariah standards on Mudarabah is the second in the series of syariah standards (formerly known as syariah parameters), with the first on Murabahah. Describing it as a major milestone, Bank Negara said it is part of efforts to enhance the syariah and regulatory framework in Malaysia. (Source: Business Times)

Govt completes initial anti-dumping probe on steel
The Government has completed the preliminary investigation on anti-dumping of imports of steel wire rods (SWR) and has found sufficient evidence to continue with further investigation on the importation of SWR from Taiwan, Indonesia, South Korea and Turkey. The petitioner alleges that imports of steel wire rods originating in or exported from Taiwan, Indonesia, South Korea and Turkey are being imported into Malaysia at a price much lower than the price in the domestic market of the alleged countries. The petitioner claims that this is causing material injury to the domestic industry in Malaysia. (Source: The Star)
Asia Petroleum Hub wound up on court order Asia Petroleum Hub Sdn Bhd, the receiver and manager appointed by CIMB Bank Bhd in January this year for the Asia Petroleum Hub project in Johor has been wound up following a court order and a winding up petition filed by QI-PMC Sdn Bhd, a creditor of Asia Petroleum Hub, on Friday. This was revealed by Muhibbah Engineering (M) Bhd, one of Asia Petroleum Hub’s major contractors, in a statement in a filing to Bursa Malaysia yesterday. (Source: Business Times)

Mitsubishi and Apex get MRT packages
Mass Rapid Transit Corp Sdn Bhd (MRT Corp) has awarded Mitsubishi Heavy Industries Ltd and Apex Communication Sdn Bhd–LG CNS Consortium the trackworks and telecommunication work packages, respectively. The trackworks package won by Mitsubishi is worth RM855mil, while the telecommunications package secured by Apex is valued at RM319.9mil. In a statement, MRT Corp said the awards were for the Sungai Buloh–Kajang (SBK) Line of the Klang Valley Mass Rapid Transit (KVMRT) project. (Source: The Star)



Foreign News

U.S. Stocks Erase Losses as Apple Offsets Earnings
U.S. stocks erased earlier losses, sending the benchmark Standard & Poor’s 500 Index higher for the first time in three days, as an advance in Apple Inc. shares overshadowed disappointing corporate results. Apple, the world’s most valuable company, jumped 4 percent and paced gains in technology companies. Peabody Energy Corp., the largest U.S. coal producer by volume, surged 12 percent after earnings beat projections. Freeport-McMoRan Copper & Gold Inc., the world’s biggest publicly traded copper producer, and SunTrust Banks Inc. retreated at least 1.4 percent after reporting earnings that missed analysts’ estimates.

Yen Touches 3-Month Low on Bets BOJ to Add More Stimulus
The yen touched its weakest level in more than three months as signs that the world’s third-largest economy is moving closer to contraction fanned speculation that the Bank of Japan will add further stimulus. The greenback maintained an eight-day gain versus the yen, the longest winning streak in seven years, after yields on U.S. two-year notes rose to the most since June versus their Japanese peers, attracting money to dollar-based assets. The Australian dollar held onto three days of losses before data forecast to show inflation held near the slowest in 13 years, providing scope for the Reserve Bank to cut borrowing costs.

Moody’s Cuts Ratings on Catalonia, Four Other Spanish Regions
Moody’s Investors Service, a week after deciding against cutting Spain’s credit-rating to below investment grade, lowered Catalonia and four other Spanish regions. Catalonia, which will hold an early election on Nov. 25 focused on whether to seek independence for the region that accounts for a fifth of Spain’s economy, was reduced two steps to Ba3 from Ba1, the ratings firm said in a statement dated yesterday. Extremadura was lowered to Ba1 from Baa3, Andalucia was slashed to Ba2 from Baa3, and Castilla-La Mancha was cut to Ba3 from Ba2 and Murcia dropped to Ba3 from Ba1.

China’s Factories Losing Pricing Power in Earnings Threat
Chinese factories are losing pricing power in the worst wholesale-cost deflation since 2009, signaling corporate earnings may deteriorate further and putting a damper on global inflation pressures. Steelmaker China Oriental Group Co. says falling prices are wiping out profits, while Yunnan Copper Industry Co. cited the declines for a third-quarter loss. The producer price index fell 3.6 percent in September from a year earlier and may stay negative until the second half of 2013 without large stimulus, according to Mizuho Securities Asia Ltd.

LDK Advances as Leaders to Act on Growth: China Overnight
Chinese equities rose in New York, extending a four-week rally, on speculation next month’s leadership change will provide the impetus for further measures to stimulate growth in Asia’s largest economy. The Bloomberg China-US Equity Index of the most-traded Chinese companies in the U.S. climbed 1.2 percent to 96.65 yesterday, the strongest close since May 11. LDK Solar Co. soared the most in a year on plans to sell new shares to state- owned investors. China Unicom (Hong Kong) Ltd. jumped to a five- month high after saying third-generation service users grew. China Mobile Ltd. rose to trade at the widest premium over its Hong Kong shares in more than a month after reporting an increase in third-quarter profit.

Vietnam Will Struggle to Meet 2012 Growth Target: Southeast Asia
Vietnam will struggle to meet its 2012 growth target without pumping money into the economy, according to economists including an adviser to Prime Minister Nguyen Tan Dung. Vietnam’s economy needs to grow 6.5 percent in the fourth quarter in order to meet the government’s full-year growth target of 5.2 percent, the prime minister told lawmakers at the National Assembly in Hanoi yesterday. Vietnam’s 2012 economic growth may reach 5 percent to 5.2 percent, Nguyen Van Giau, chairman of the assembly’s economic committee, told lawmakers.

anonymous682 wrote:morning BC comrades [You must be registered and logged in to see this image.]
Anyone using hlb & encounter problem accessing ur trading screen ? Seems HLB trading server is down [You must be registered and logged in to see this image.]

i use 3 different trading platforms. each with equal money.
just in case. i know its a headache but this is a risk i cant take. have your dealer's number on speed dial. just in case.