Tuesday, January 31, 2017
Tuesday, January 24, 2017
Dear valued Connect user,
The internet makes it easy to manage your money, however you need to be fraud smart to help protect yourself against fraud. Check out the tips below:-
1. When dealing with uninvited contacts from unknown parties, whether it's over the phone, email, SMS or on a social networking site, always consider the possibility that the approach may be a scam. The scammers will use techniques to invoke strong emotions, like greed or fear to get hold of your information and/or to deceive you in making payments to an unknown account.
2. If you’ve been targeted by a fraudster or you’ve encountered the following situations, please
contact Hong Leong Call Centre at 03-7626 8899.
• You’ve shared your username, password, card details and PIN to a third party.
• You’ve spoken to a party pretended to be or sounded like BNM or law enforcement agencies or bank.
• You’ve been instructed to set a TAC number for your account with a third party’s phone number.
Hong Leong Connect Team
The index remained in a side-way correction as it continued to trade between the support and resistance levels of 1,650 and 1,680 points respectively.
Last week, the index managed to find support at 1,658 points, which is where the long-term 200-day MA currently (25 Jan 2017) is. Trend-wise, the index remained bullish above both the short- and long-term 30- and 200-day moving averages. The index tested the 200-day moving average a few times last week and was able to stay above it.
Momentum indicators like the RSI and Momentum Oscillator rebounded after declining last Monday.
The indicators are still above its mid level. This indicates a bullish sentiment.
Furthermore, the moving MACD indicator declined but is still above its trigger line and the FBM KLCI is pulling back towards the middle band of the Bollinger Bands indicator.
However, it was able to hold well despite market waiting for Donald Trump’s inauguration as the new US president last week.
With a higher support at 1,658 points last week and trend being technically bullish, expect the market to stage a rebound this week and the FBM KLCI to test the immediate resistance level at 1,680 points.
The index may even climb to 1,700 points in the next one or two weeks if it can stay above 1,680 points.
Monday, January 23, 2017
Sunday, January 22, 2017
With the remand of Iris Corp Bhd deputy MD Datuk Hamdan Hassan following allegations of corruption by the MACC, it is unclear whether the company will push through with its restructuring plan in 2017.
As Iris co-founder and MD Datuk Tan Say Jim has gone on leave since November 2016, Hamdan took the leading role of the company and had plans for a major overhaul of the company’s operations, to refocus on the ID business.
Tan has been selling down his stake in the company, disposing of a total of 79.6 million shares over the last two weeks of December 2016, representing an equity stake of approximately 3.54%, bringing his total holding to 2.882%.
Hamdan said Iris would return to its roots to strengthen its core trusted ID business, especially after the non-renewal of its contract to supply e-passport chips to the Malaysian government in May 2016.
Felda Investment Corp Sdn Bhd is the largest shareholder with a 21.33% stake.
However, with Hamdan’s suspension of his executive powers, amid the MACC’s investigations into alleged bribery and abuse of power, it is uncertain whether the restructuring plan will pull through.
MACC’s six-day remand order for Hamdan to facilitate the ongoing investigations, and appointed its COO for trusted ID, Choong Choo Hock, as acting CEO.
Meanwhile, the company said the remand order would not have any implication on the validity of its contract with the government of the Republic of Guinea nor will it have any implication on the e-passport project.
Streets opine the worst should be over for the stock and the company should record sequentially stronger earnings ahead from Jan 2017.
Top Glove has highlighted that the operating environment has improved with the appreciation of the US dollar-ringgit (Till 20 Jan 2017) post-Trump victory.
Furthermore, the demand for gloves has remained robust as the total utilisation rate stands at between 82% and 85%.
Another key highlight was the price revisions it implemented in the first quarter of financial year 2017 (1QFY17). The ability to raise prices while utilisation rates have remained healthy signifies that pricing competition has eased. The group raised latex gloves’ ASPs by an estimated 10% to 13% quarter-on-quarter (q-o-q) in 1QFY17, while observers estimate it raised nitrile gloves’ ASPs by 4% to 5%.
Despite the favourable US dollar-ringgit benefitting the group, it is positive that the group is able to raise its ASPs to pass on the increase (Till 20 Jan 2017) in raw material prices (latex increased 34% q-o-q, nitrile butadiene increased 26% q-o-q). However, management did not discount the possibility of further ASP hikes given the spike in latex prices till 20 Jan 2017.
Overall, industry observers believe the latex prices at current levels (20 Jan 2017) are unsustainable as the spike in latex prices can be attributed to a supply shortage due to floods in Southern Thailand, the supply is expected to improve going forward from Jan 2017 with reports of the floods subsiding.
Furthermore, speculative demand from a spike in China car sales is unlikely to continue into 2017, as China lowered tax cuts for vehicle purchases to 5% from 10% in 2016.
Topglove plans to add 6.2 billion per annum (12% increase) in capacity in 2017. Although this looks aggressive at this juncture, management has highlighted plans to stagger the new incoming capacity to allow for better supply and demand dynamics.
Its 4.4 billion plant (due April 2017) is expected to come onboard throughout the whole year. On the other hand, the commercial production of Phase 1 of F31 (1.4 billion per annum) can potentially be deferred to 1Q18.
Thursday, January 19, 2017
It will emerge as a leading integrated O&G services provider via its proposed consolidation plan, which will see the company wholly acquiring OSV player Icon Offshore Bhd and marine transportation vessel player Orkim Sdn Bhd.
The combination of these three companies will transform them into a leading integrated services provider and will strengthen its capital position.
The exercise will be facilitated via two separate purchase agreements with Ekuinas for the fund’s stakes in the two companies.
Under the agreements, UMW-OG will acquire Ekuinas’ 42.3% indirect stake in Icon for new UMW-OG shares and 95.5% interest in Orkim for cash. UMW-OG’s acquisitions are valued at RM721.61 million.
UMW-OG will then undertake a MGO for the remaining shares in Icon at 50 sen apiece, to be satisfied by either cash or issuance of new UMW-OG shares at 80 sen apiece, and does not intend to maintain the listing status of Icon.
The exercise will be followed by a recapitalisation exercise via a rights issue of approximately RM1.8 billion, inclusive of Ekuinas’ application for excess rights shares worth RM322 million.
UMW-OG intends to procure similar support from its largest indirect shareholder PNB.
The enlarged group will be a major integrated services provider with seven jack-up rigs, one semi-submersible rig, five hydraulic worker units (HWU), 37 OSVs, 14 clean petroleum product vessels and two liquefied petroleum gas marine transportation vessels.
With the newly acquired fleet of vessels across the value chain, the enlarged UMW-OG will be in apposition to benefit from the expected recovery of activities in the sector through its interests in offshore drilling rigs, HWUs and OSVs, and improved earnings profile through Orkim’s long-term contracted cash flows.
Meanwhile, UMWH will exit its O&G operations via a distribution in specie of its entire 55.73% of UMW-OG to all entitled shareholders of UMWH. The group will also progressively exit its 12 non-listed companies.
The group is looking to dispose of up to seven assets within 2017, and aims to complete the disposals by end-2018.
The group will then refocus its operations on its core businesses of automotive, equipment and manufacturing and engineering.
With the completion of the exercise, PNB will emerge as the largest shareholder with a 39.7% stake in UMW-OG, followed by Ekuinas (23.1%), the EPF(12%) and LTH (2.4%) and others (22.7%).
对UMW 和 ICON 有利
可怜的 UMW OG
0.885 跌到 74分
1450 化掉了 （票面亏损）
油气股大热， 选择UMW OG
招招 “ 都够力”， 小心官联，
不是 玩 Ｔ ３，
以马登的情况， 要发２ 至 ４％ 股息
Wednesday, January 18, 2017
眼睁睁看贫富差距一步步拉大 (･᷄ὢ･᷅) RT
C君原本服务的公司收盘， 不过母公司继续营业， 他就继续当讲师。