KL Trader Investment Research Articles
Maybank Research Highlights - 8 Aug 2014
| Technicals |
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Lighten up as index could break 1,860 The FBMKLCI fell 2.60 points to 1,867.32 yesterday, while the FBMEMAS and FBM100 also lost 18.56 points and 24.15 points, respectively. We expect very weak buying interest at the supports of 1,845 to 1,860, whilst very heavy liquidation will be at the resistances of 1,867 and 1,890. Trading idea is a Take Profit call on IJM with Downside target areas at MYR6.16 & MYR5.95. |
| Other Local News |
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TMC Life Sciences: Singapore Tycoon Peter Lim makes MGO for TMC.Singapore billionaire Peter Lim Eng Hock has launched a mandatory takeover offer (MGO) for TMC Life Sciences at 48 sen per share after buying over Tan Sri Vincent Tan's equity interest in the medical group. TMC announced that it had received a notice of takeover offer from Lim and his wholly-owned investment vehicles, Sasteria (M) Pte Ltd (SAS Malaysia) and Gilberta Investments Ltd (GIL) for the remaining 40.76% of TMC shares he does not own at 48 sen per share for MYR156.9m cash. (Source: The Edge Financial Daily) Tanjung Offshore: Yet to get re-entry nod from Ekuinas. Tanjung Offshore has yet to obtain any consent from Ekuiti Nasional (Ekuinas) for its re-entry into the offshore support vessels (OSV) segment in the oil and gas industry which it exited two years ago. In June, Tanjung Offshore announced a proposed reversed takeover (RTO) that would pave the way for its return to the OSV segment. Under the non-compete clause, Tanjung is restricted from competing in the same segment for three years. The clause expires in mid-2015. (Source: The Edge Financial Daily) Perwaja: Commences restarting programme. Steelmaker Perwaja Holdings could resume production soon, as its top officials are finalizing a restarting programme, sources said. The company has put in place the restarting programme at its plant in Kemaman, Terengganu, which was shut down partly due to the gas and electricity supply curtailment by Petroliam Nasional (Petronas) and Tenaga Nasional Bhd (TNB) as Perwaja had failed to settle its ballooning energy bills. Perwaja’s steel facilities in the plant are capable of producing up to 1.5m tonnes of direct reduced iron (DRI) and 1.3m tonnes of semi-finished long steel products. (Source: The Edge Financial Daily) Latest external reserves statistics released by BNM as of 31 July 2014 amounted to MYR423.5b or USD131.8b - equivalent to 9.0 months of retained imports and 1.3 times of the country's short-term external debt. The reserve was lower as compared to the previous statement at MYR423.8b or USD131.9b dated 14 July 2014. The current reserves level reflects the moderation in both foreign net buying of Malaysian equities (June 2014: MYR 0.6b; May 2014: MYR 3.0b) and total debt holdings by foreigners (June 2014: MYR 248.2b; May 2014: MYR 249.5b), based on end-June 2014 data. Recent softness in MYR against USD (3.21 as of 7 Aug versus the recent high of 3.17 on 23 July) is indicative of further profit-taking activities by foreign investors and the consequent mild outflows. (Source: BNM, MKE) |
| Outside Malaysia |
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U.S: Consumer credit in June rises on demand for car, student loans. The USD 17.3b increase in consumer credit followed a USD 19.6b May advance, the Federal Reserve reported. Non-revolving loans, including borrowing for cars and college tuition, climbed USD 16.3b. (Source: Bloomberg) U.S: Jobless claims have dropped about as much as they can. The number of Americans filing applications for unemployment insurance benefits over the past month has dropped to the lowest level since early 2006. Yet last month there were 5.4 million more people in the labor force, which is- for the most part -the slice of the population eligible to file, than there were eight years ago. Jobless claims unexpectedly decreased by 14,000 to 289,000 in the week ended Aug. 2, data from the Labor Department showed. The four-week average, a less-volatile measure, slid to 293,500. (Source: Bloomberg) Germany: Industrial output grew less than forecast in June as Europe's largest economy came under pressure from political tensions with Russia. Production, adjusted for seasonal swings, rose 0.3% MoM from May, when it declined a revised 1.7% MoM, the Economy Ministry said. Production fell 0.5% YoY in June from the previous year when adjusted for working days. (Source: Bloomberg) Russia: Import ban will hit European food producers. Russia's import ban on a list of Western foods may be peanuts on the scale of Europe's economy, but it is a blow for some producers-and a sign of deteriorating economic ties as Moscow and the West face off over Ukraine. Russia gave details Thursday of its response to Western sanctions, banning the import of meat, fish, dairy products and some other agricultural goods from countries that have targeted Russia with their own economic boycotts. Retaliation for Western sanctions imposed last week, which targeted Russia's banks, military and oil industry, was widely expected, European Union officials said. Besides Europe, the Russian ban also covers produce from the U.S., Canada and Australia, which have all imposed sanctions on Moscow. Switzerland was spared, having indicated this week that it won't follow other Western nations in imposing economic sanctions. (Source: WSJ) Australia: Jobless rate jumped to a 12-year high in July, surpassing the U.S. level for the first time since 2007 and sending the local currency tumbling. The unemployment rate rose to 6.4% from 6%, the statistics bureau said. The number of people employed fell by 300. (Source: Bloomberg) |
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Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
DennisChan
buy more perwaja good
2014-08-23 19:44