Should see reversal of trend tomorrow after the t4 force selling

Inari wont fail you if you can hold

yes, short term...intermediate 6mth 1.00

Gauss.....I was also told that a big foreign funds will take a 20m stake in inari real soon...hope our news are correct. then my 3.50 TP should be within reach. But I expect the weakholders selling will continue another few days; however the 3.00 support is a very strong support. I believe the price will ding dong between 3.00 and 3.05( a most major resistance for now) for the early part of next week but the 2nd half should break 3.10; 3.15 and 3.20

BUY ON WEAKNESS

IMPRESSIVE SHOWINGS TODAY...CLOSED 1.89 WITH VERY HIGH VOLUME PROBABLY BUYING BY INSTITUTIONAL FUNDS .....SHOULD BREAK 2.00 BY TOMORROW OF FRIDAY. mAYBANK FAIR VALUE rm2.55

Perdana Petroleum - On a fleet expansion drive


Date: 24/06/2014




Source

:

MAYBANK



Stock

:

PERDANA



Price Target

:

2.55

|

Price Call

:

BUY











Last Price

:

1.85

|

Upside/Downside

:

+0.70 (37.84%)





Back
--------------------------------------------------------------------------------



To buy 2 units of 500 pax accommodation barges for USD84m with the option for another 2.

This would offer visible earnings beyond 2016.

Maintain BUY and MYR2.55 TP, based on 2015 PER.

What’s New

Perdana has placed orders for 2 units of 500 pax accommodation workbarges with shipbuilder, Nam Cheong. These newbuilds, scheduled to be delivered by 1Q16 and 2Q16 respectively, will cost Perdana USD84m. The payment structure would be a 20% deposit and the remaining 80% upon delivery.

Perdana also has the option to order another 2 units (of similar specifications).

What’s Our View

This is a positive development but not entirely a surprise. We have highlighted such possibility in our previous reports, considering Perdana’s improving financials and to capitalise on the upcycle in the offshore support vessel (OSV) markets.

Perdana’s has the balance sheet and cashflows to support its fleet rejuvenation program. An additional MYR54m (for a 20% deposit) will only raise its net gearing from 1.0x as at Mar'14, to 1.1x. Almost its entire fleet are on long term charters with reasonable rates and high utilisation levels.

We view Perdana’s move into the 500 pax accommodation barge segment as a strategic move, targeting the overseas market. Demand for such vessels is high as they support brownfield activities.

Our earnings forecasts are unchanged for now.

Source: Maybank Research - 24 Jun 2014




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Labels: PERDANA

collect on weakness....reversal soon

Published: Tuesday June 24, 2014 MYT 10:27:00 AM
Updated: Tuesday June 24, 2014 MYT 10:44:06 AM
Apple suppliers to start making larger iPhones next month


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Apple Inc's suppliers will begin producing larger versions of the iPhone in China next month, Bloomberg reported citing sources.

Apple is ramping up production of iPhones with 4.7 and 5.5-inch screen sizes, which may be shipped to retailers around September, the report said.

Apple launches new versions of the smartphone line that drives half its business around the fall of every year.

The industry has speculated for some time now that Apple intends to design and sell a device with a larger screen, to fend off Samsung phones with much bigger displays that have proven popular in Asia and elsewhere.

Hon Hai Precision Industry will recruit over 100,000 people in mainland China to produce the newest iPhone from Apple, Taiwan's Economic Daily News reported on Monday, in what the report called the firm's largest single hiring spree in China.
Fellow Taiwanese contract manufacturer Pegatron Corp will also expand its workforce in one mainland factory by 30%, in response to expected high demand for the new iPhone.

Apple was not immediately available for comment outside regular US business hours.- Reuters

IF 3.10 BROKEN....WE SHOULD SEE 3.20 BREACH TOMORROW FOR INARI

http://malaysiafinance.blogspot.com/

GOOD WRITE UP BY DALI SALVADORE ON IJACOBS

Tuesday, June 17, 2014

Interesting Oil & Gas RTO On Ideal Jacobs


Not all oil & gas RTO are equal, we know of the huge surge in Barakah, and the moderate gains in PDZ. Barakah had a fantastic run because of the people behind the company coming in and the new projects which they won. PDZ was slower because the buyer was not as "strongly connected" and the fact that there is still a huge number of outstanding shares of PDZ out in the open.PDZ new owner bought a controlling stake but has yet to announce any asset injection, hence the flattish performance.

So where does the Ideal Jacobs RTO rate?

HEADS OF AGREEMENT IN RELATION TO THE PROPOSED
REVERSE TAKE-OVER OF IJACOBS BY CEKAP TECHNICAL
SERVICES SDN BHD (“CTSSB”) AND MECIP GLOBAL
ENGINEERS SDN BHD (“MECIP”)

The proposal is to acquire Cekap Technical Services and Mecip Global Engineers via an issuance of new Ideal Jacobs shares @ 25 sen. Fair enough. For this deal, we already know which company/asset will be injected, hence easier to survey their prospects.

The vendors of CTSSB are Md Nazir Bin Md Kassim and Sofiyan Bin Yahya. The vendors of MECIP are Ahmad Nazari Bin Ashari, Mohd Nor Bin Abd Basar, AliShastry @ Haslan Bin Husain.

What is positive is also a management buyout of the existing operations of Ideal Jacobs by its current owners (Andrew Jacobs and Ben Meng), which is to say Ideal Jacobs will be a "clean company", and if you examine their balance sheet, its pretty clean already. This allows for the RTO asset to be valued accordingly without any baggage or legacy issues.

Cekap Technical Services Sdn Bhd
Formed in 1994, Cekap Technical Services Sdn Bhd has established a niche as a provider of integrated technical services especially in project management and integrated project services including project management, project support, safety consultancy, environment consultancy, G&G services, ICT and integrated operations. The company has an excellent safety record of zero LTI since it began operations. Currently the company has more than 400 staff across its operations. The company has successfully served all the oil & gas operators and major players in Malaysia and has established a track record in the region, including Brunei and Philippines. The company has also expanded into the Middle East, especially UAE and Iraq, and Far East in Korea and Japan. The company has offices in Kuala Lumpur, Kerteh, Pasir Gudang, Dubai and Brunei.

So how much more can we assess the RTO if we do not know the valuation of the two companies? Thats a fair question since its only a Heads of Agreement but we can easily spot the key driver of the deal in one of the vendor, Sofiyan bin Yahya. He is a BSD in oil & gas if you are in Malaysia's oil & gas industry.

Sofiyan Yahya
President (April 2008 – April 2014), Malaysian Oil & Gas Services Council
The Malaysian Oil & Gas Services Council or MOGSC is the most proactive non-profit organisation or NGO representing the interests of the service providers in the Malaysian oil & gas industry. Key missions are to promote Malaysia as the regional hub for oil & gas services, and showcase the capabilities of the Malaysian oil & gas services sector. MOGSC collaborates with all the industry stakeholders. MOGSC has working groups and task force committees addressing various industry interests and issues, and regional chapters to promote local players in the specific active regions.

Back to Cekap, it is licensed by Petronas (L-295213-P). Some of the key projects they have completed:
- Malampaya debottlenecking project (Philippines)
- Petronas' Integrated Operations Collaboration Center
- Central Luconia rejuvenation project (Sarawak)

Barring any nasty surprises in terms of valuation, the prospects for this RTO is pretty good. You are only as good as the driver behind the vehicle, in particular when you are talking about doing well in the oil & gas industry in Malaysia. Hence this deal is closer to Barakah in terms of attractiveness than say PDZ.


Posted by Salvador Dali at 12:32 AM 1 comment:
Labels: Cekap Technical services, Ideal Jacobs, Mecip Global Engineers, Sofiyan Yahya

Al_investor....you are another hardcore inari supporter. Thanks

By end of this mth tp 0.50 for ijacob.

Read Dali comment on ijacob

Friends. .. I am also in IJACOBS. Being collecting since 0.32. Not to promote here... but to share

Sorry to hv miss your name Undertaker. ...I know you are the main contributor here. Thanks

SLTS....GOOD TO KNOW YOU JOIN THE PARTY TODAY...

AS INARI PRICE SHOOTING UP; I BEGAN TO REALISE THAT THIS TREAD HAS BECOME LESS ACTIVE...PROBABLY DUE TO A LOT OF PEOPLE WHO USED TO CONTRIBUTE TO THIS TREAD ESPECIALLY THE CONTRA PLAYERS HAVE SOLD THEIR HOLDINGS. ONLY DIE HARD INVESTORS ARE STILL ACTIVE LIKE ALEX LEOW, BUCKBUNNY; NEWBIRDS; lloydlim ; VOONYOKE; CWEED AND A FEW OTHERS

BOARDROOM TUSSLE SHOULD NORMALLY RAISE SHARE PRICE AS EACH PARTY TO THE CONFLICT WILL TRY TO GAIN MORE VOTING RIGHTS THROUGH ACQUISITION OF SHARES FROM THE OPEN MARKET

Published: Saturday June 21, 2014 MYT 12:00:00 AM
Updated: Saturday June 21, 2014 MYT 11:04:52 AM
Banks bet on smartphone technology

Arwin: ‘Bank should differentiate themselves to sharpen their customer focus.’
Arwin: ‘Bank should differentiate themselves to sharpen their customer focus.’

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WITH the breaking down of geographical barriers, more banks are investing heavily in smartphone technology to expand their businesses and market share.

CIMB Singapore country head and CEO Mak Lye Mun says Singapore has one of the highest rates of smartphone ownership and usage, hence banks tapping into the mobile banking needs of the consumers is of utmost importance.

“Though customers may not know the location of their closest branch or even carry their credit and debit cards with them, they will always have their mobile phones to tap into the relevant information to meet their daily banking needs,” he says.

It is not just about moving forward and expanding their business, it is also key to defending their market share, he notes.

Mak adds that banks in Singapore have to leverage on technology to the fullest to meet the expectations of Gen-Y as mobile phone is now an integral part of this segment.

He says most of the major banks are investing heavily in technology that is reliable and secure to up their game as it has changed customers’ expectations about banking convenience and accessibility.

Mak adds: “Technology has definitely broken down both time and geographical barrier all around the world. In the banking sector, gone are the days when technology was only seen and used by trained branch staff, remote from ordinary customers.


Mak: ‘Technology has definitely broken down both time and geographical barrier all around the world.’
“For the customers, mobile technology has reduced our reliance on our PCs and further enabled us to carry out traditional branch-based and online transactions – account information, funds transfers or even apply for products and services – on-the-go anytime, anywhere.”

Mak says the new electronic funds transfer service FAST (Fast And Secure Transfers) is a major development as it gives customers the convenience of instant funds transfer across banks and instant access to their funds. For the banks, this somewhat negates the need for a large ATM network, he notes.

Although the take up of FAST has been very positive, it may be still too early to quantify as the service was launched only in mid-March this year. The FAST infrastructure has opened up new possibilities and customers can look forward to more innovative services and banking convenience, he says.

For CIMB, besides FAST, he says customers have the convenience of instant online funds transfer between their CIMB Singapore and CIMB Malaysia accounts.

On the state of technology in the Indonesian banking scene, CIMB Niaga president director and CEO Arwin Rasyid says technology is breaking the time and geographical barrier in a big way and affecting nearly all walks of lives.

“It helps bring banking services to those who previously could bank only at banking hours and at the branches. Bank should differentiate themselves to sharpen their customer focus.

“Those that target the mass market built and strengthened their branch networks. Those with focus on affluent market would sharpen their products and services to cater to the affluent but have minimum branch network,’’ he says.

As to how the incumbent banks in Indonesia are reacting to the banking technology, Arwin says they have observed this new trend and the change in people’s lifestyle. “Some, however, react faster than others and some react with more intensity and invest more in technology than the others,’’ he adds.

On the results in terms of customers, deposits and contribution to bottom line following the usage of technology, he says though there are many aspects to measure results, the most telling one will be the percentage of transactions done outside the branches.

For every transaction that can be conducted electronically outside bank branches, it will mean savings for both the customers and the bank, he says.

INARI’s share price increased by 12 sen (+4.15%) to close at RM3.01 yesterday with a spike in trading volume. The strong resistance level of RM2.91 has finally being taken out, and all 3 SMA’s are now trending upwards. Momentum indicators also support the bullish momentum as the MACD has crossed over the signal line, while RSI and Stochastics appear to be pointing upwards. We expect buying interest to persist, as the long-anticipated resistance breakout could act as an uptrend resumption signal. From here, we believe that the share price could push towards RM3.51 level. Traders should aim to take profit 3 bids below this level (at RM3.48), while setting a protective stop-loss at RM2.88.
 
Source: Kenanga

Caxton. ...I had friends in the right areas

Jimstock. ...the news is about rewarding the shareholders

There has been very heavy buying by big funds both local n foreign above 3.00 which has absorbed most contra players sellings. Logic will tell you that if the funds bought above 3.00, means they know the value much higher.

Inari may rise after holding above the 50-day MAV line. If the stock stays above MYR3.00 today, traders may opt to buy – with a close below MYR2.85 as a stop-loss. Should the MYR3.20 level be broken, the price target will be MYR3.30. However, a failure to stay above MYR3.00 will likely see the stock trading sideways and further support is at MYR2.60.

NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS): COMBINATION OF NEW ISSUE OF SECURITIES JAG BERHAD (FORMERLY KNOWN AS INFORTECH ALLIANCE BERHAD) (“JAG” OR THE “COMPANY”) I. PROPOSED BONUS ISSUE OF SHARES; AND II. PROPOSED FREE WARRANTS ISSUE (COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)

INFORTECH ALLIANCE BERHAD

Admission Sponsor TA Securities Holdings Bhd
Sponsor Same as above
Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
COMBINATION OF NEW ISSUE OF SECURITIES
Description JAG BERHAD (FORMERLY KNOWN AS INFORTECH ALLIANCE BERHAD) (“JAG” OR THE “COMPANY”)

I. PROPOSED BONUS ISSUE OF SHARES; AND
II. PROPOSED FREE WARRANTS ISSUE


(COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)

On behalf of the Board of Directors of JAG (“Board”), TA Securities Holdings Berhad (“TA Securities”) wishes to announce that the Company proposes to undertake the following:-
(i) Proposed bonus issue of 292,413,844 new ordinary shares of RM0.10 each in JAG (“JAG Shares” or “Shares”) (“Bonus Shares”) on the basis of nine (9) Bonus Shares for every twenty (20) existing JAG Shares held at an entitlement date to be determined later (“Entitlement Date”) (“Proposed Bonus Issue of Shares”); and
(ii) Proposed issue of 324,904,271 free warrants (“Warrants”) on the basis of ten (10) Warrants for every twenty (20) existing JAG Shares held at the same Entitlement Date as the Proposed Bonus Issue of Shares (“Proposed Free Warrants Issue”).
Further details on the Proposals are set out in the attachment.
This announcement is dated 19 June 2014.

Orange. ...the showings good today....Uptrend to continue. Very good development very very soon

Inari should hit 3.20 or near this afternoon. .. something big coming out today

WATCH THIS COUNTER CLOSELY.... VOLUME PICKING UP FOR LAST FEW DAYS.....A RUN UP SHOULD BE FORTHCOMING

The game to continue. 3.50 looks set soon.

Something interesting to be announced Friday or early next week I

I was told this Friday inari should breach 3.20. I pray information is correct. Let's us all pray together. Then my TP 3.50 by end of month should be realised

Just to share with fellow inarian. Consider to buy iNFOTEC 0024......I understand tomorrow the something big to "happen"..can't elaborate here.

Probability. ....no need to bow at me. We are in the same boat. I want all inarian to benefits from whatever info I know.

Yesterday, INFOTEC rose 1.5 sen (+4.5%) to settle at RM0.345 to form a “White Marubozu” which reflects the bullish sentiment on the stock. The share price closed above the 20- and 50-day SMAs and has also broken out from its strong resistance line at RM0.335, indicating the start of a short-to-mid-term up cycle. The MACD and RSI indicators are both trending upwards, supporting the bullish momentum. However, the key resistances are at RM0.38 and RM0.41 next, while downside support levels are capped at RM0.29 and RM0.26.

UPTREND TO CONTINUE...IMMEDIATE TP 0.45

GOOD SHOWING....UPTREND SHOULD CONTINUE

iF THE FUND TOO AT 2.95... THEY BELIVE STRONGLY THAT THE UPSIDE IS THERE

A LOT OF INARIANS ARE SKEPTICAL ABOUT MY TP OF 3.50 AT END OF MONTH OR EARLY JULY. IT LOOKS LIKE ITS GOING TO HAPPEN

INARIANS...YOU MAY LOOK AT INFOTECH ALSO. I BELIEVE QUICK GAME

FROM RHB-OSK OFF MARKET SCREEN... THERE IS AN OFF MARKET CROSSING ( DIRECT DEAL) OF INARI SHR 5.0 MIL @ 2.95. i GATHER ONE BIG FUND TOOK THE BLOCK.

TO BREAK 3.00 THIS AFTERNOON. BIG FUNDS BUYING. 3.50 WITHIN REACH END OF THIS MONTH

Alex I agree with you. Short term tp 3.50. That was told to me by very reliable source. The 2 big funds has been buying every day since last few day s. The other 2 funds bought smaller amount. Let's hope the magic figure of 3.50 happens asap.

Alex.. maybe the US fund you meant will buy tomorrow

Alex leow. .Today not US Fund buying but 2 4 big local funds bought about 85% of volume.

THOSE DIDNT FOLLOW THIS COUNTER WILL REGRET

LIKE I SAID; MY FORESIGHT TELLS ME IT SHUD BE 3.50 BY END OF THIS MONT OR EARL JULY IF THE ANTICIPATED ANNOUNCEMENT MATERIALISE

i foresee something big to be announced real soon

With ESOS to directors at 1.35; price should be much higher in order to benefit the directors