Had disposed half during these 2 days to take some profit..

AirAsia ( Valuation: 1.20, Fundamental: 0.20) says "major shareholders get approached by several parties from time to time with various proposals"??

Getting more and more news on AA..
Finally matched at RM1.47!

Relook AirAsia again after disappointed of it move to take up the AAI debt.
Any further down will provide good opportunity to accumulate..

Selling pressure is getting lesser started from yesterday and the buying interest is getting higher... good sign..

Finally matched 5 lots at rm1.19 for today

Still hold . My expected tp is rm1.60
Anyway, i only hold very few counters now to avoid any market uncertainty.

Start to accumulate back this counter which the dividend yield is quite attactive, low risk and Q repoet will out soon.

(吉隆坡24日訊)馬星集團響應2016年財政預算案，讓低收入群居者有其屋，這個週末上午10時至傍晚6時，在萬撓的M Residence，公開讓想要申請Rumah Selangorku計劃下 M Residence 2@Rawang Cendana公寓單位的民眾前來詢問申請。

Cendana公寓乃馬星集團Rumah Selangorku計劃下的一項發展計劃。該計劃備有兩座，共488個單位的公寓，每個單位850平方尺，備有3房2浴室，及2個泊車位，僅售17萬令吉。屬於圍籬設施的該公寓備有多元用途禮堂、兒童遊樂場、祈禱室等，預計將在2018年竣工。

馬星集團行政總裁兼執行董事吳彩榮指出，馬星集團積極協助實踐國家願景，以讓40%的低收入群能居者有其屋。“我們堅信，質量並不會受價格影響；這些迎合市場需求的房屋設備齊全，也備有安全措施等。”

申請者必須是18歲以上，家庭收入介於3千令吉至8千令吉，在雪州沒有任何屋業者。購屋者不可出租，也不可在5年內出售該屋子。申請者受促攜帶所需文件

- See more at: http://biz.sinchew.com.my/node/124800?v=mobile#sthash.xrWsOtbe.dpuf

（吉隆坡23日訊）馬星集團（MAHSING，8583，主板產業組）董事經理丹斯里梁海金讚賞2016年預算案的各種措施，包括重申對主要基建設施的承諾，及各種創造可負擔房產的措施，相信各基建計劃將直接讓公司受惠，因有61%地庫落在大吉隆坡地區。

價值9億令吉的敦拉薩路交通疏通計劃有助舒緩吉隆坡擁擠程度，並直接讓公司旗下的M City@Jalan City Ampang受惠，而撥款14億令吉提昇路況，則將公司的城市邊緣發展項目如Southville City@KL South、M Residence等產業計劃更容易吸引買家。

雙溪毛糯通加影捷運線首階段發展預定明年杪投運，第二階段發展則會在2017年啟用，這也將直接讓集團旗下數項產業計劃受惠；在沙巴，將落實的亞庇快捷巴士系統（BRT）也將讓旗下Sutera Avenue和KKCC計劃受惠。

- See more at: http://biz.sinchew.com.my/node/124761?v=mobile#sthash.zWUeTgk2.dpuf

★馬星集團（MAHSING，8583，主要板房產）董事經理丹斯里梁海金

政府給予購買房屋符合伊斯蘭教義的融資工具，豁免20%印花稅，將助降置業成本。

　同時，政府承諾持續改善國內公共交通網絡，包括改善高速公路、捷運和輕快鐵，使馬星集團直接受惠，以發展總值計算公司有61%地庫專注在大吉隆坡。

　我們有84%計劃推出住宅價格低于100萬令吉，其中71%價格低于70萬令吉，這將惠及巴生谷中收入群。

　我們相信較高的連接性，可提供住客便利並帶動房產增值，尤其在捷運站毗鄰地區。

　此外，通過中小企業銀行發行5億令吉工業化建築系統（IBS）資金，將惠及房屋和建築領域，有助進一步開拓這項技術，在建築時省時和降低材料浪費。

　馬星集團支持市場的可負擔房屋需求成本價格賣點，今年計劃推出住宅房產有44%低于50萬令吉。

I will bet this coming budget will good for developer who targeted low & mid income group. This will give a bad impression if opposition go on to vote against the budget as an alternative of confident vote.
Besides that present Mahsing price is quite reasonable and attactive.

Will retest rm1.40...long term target should above rn1.60
All these are positive to TunePro:
http://www.thestar.com.my/Business/Business-News/2015/10/19/AirAsia-offers-special-fares-to-Asia-Australia/?style=biz
http://m.ndtv.com/profit/airasia-india-announces-festive-sale-1233845

Matched at rm1.31, rm1.30 but failed to matched at rm1.29
Wil see how it performance tomorrow, if the price still pull down then opportunity to accumulate some lots before buget day.

Bank on MahSing as it will benefit from Budget Announcement, accumulate at present price.

Last week, the price of this counter was purposely pulled down, will take opportunity to accumulate some lots is price down further.

6th Oct: Purchase of shares in open market by Kumpulan Wang Persaraan again

Further accumulated at rm2.59, this price is just after ex-date if 4 cents dividend

Finally disposed all balance MMC , thanks.

Will accumulate more when price drop further.. in fact, CCMDBIO should perform better for 2nd half.

Still hold..

Since this counter price stagnant due to present index up, take opportunity to accumulate few lots at RM2.68

As this counter is behind present price up, may provide a good opportunity to accumulate at present or any price down for both Hovid and CCMDBIO.

GEORGE TOWN: The Health Mi­­nistry rejects the proposal by the United States to extend the expiry date of patents of medicines in the Trans-Pacific Partnership Agreement (TPPA) for the medical sector.

Deputy Health Minister Datuk Seri Dr Hilmi Yahaya said the duration of the patents should be reduced to enable a particular nation to produce generic medicines.

Previously, he said, the duration was 20 years, but the United States had suggested recently that the duration be extended to protect intellectual property rights.

“The Health Ministry has announ­ced that we do not agree on the extension of the duration of patency of the medicines as it will burden the people,” he said after launching the “Pesta Tanglung Universiti Sains Malaysia”.

He said the production of generic medicines would not be allowed du­­ring the patent period if the US proposal was accepted. — Bernama

From Star newspaper:
Pharmaceutical research and development leads to the discovery of future life-changing and life-saving medicines. After patents expire, generic versions of innovative drugs continue to be widely used for decades, generating enormous health benefits for consumers. Malaysia stands to benefit through increased investment from multinational companies in the areas of research and development and clinical trials, potentially helping to build a local industrial base, and encourage the entry of more innovative products to the domestic market.

The issue of government procurement has also been raised during negotiation. According to the World Trade Organisation, government procurement accounts for some 15% to 20% of GDP on average in TPPA-related countries. Many TPPA partner countries, including the United States, have government procurement set asides in their respective countries.

With the TPPA, Malaysian-owned businesses will have opportunities to participate in government procurement in TPPA member countries. This promotes competitive neutrality and a level playing field among TPPA members. We foresee that the final text of the TPPA will have some level of appropriate discretion for procurement with participating governments.

Still hold, as Kumpulan Wang Persaraan is still continue accumulated this counter even at the bad market scenario (jan ~ Oct '15). This counter should able to perform as any promotion/expansion form AA, AAX, AA? or even promotion for tourism in Malaysia or other countries that involve AA will good for TunePro.

MD from Hovid: “Say if a company files in the year 2000 but the patent is only approved in 2007 - so the clock starts ticking from 2007 not the year 2000. The additional seven years incurred is because we were late to approve the patent,” Ho says.

“This is why we hope the Government can review the patenting process to ensure the country is competitive because if the process is delayed, then the generic version that will be manufactured here will also be delayed.

“And the missed opportunity makes us lose our competitive advantage as other countries can manufacture the generic drug earlier,” he adds.

Unefficient of patenting process + TPPA impact to government procurement policy...may put our local companies at risk.

Matched at rm1.25,q at rm1.24,rm1.23 & rm1.22

Matched at rm1.27 & rm1.26

Further accumulated at rm1.28, expect will benefit from 2016 budget to promote tourism

This article first appeared in The Edge Financial Daily, on October 5, 2015.



KUALA LUMPUR: The strong global and domestic headwinds that blasted the third quarter of the year and caused equity markets across the world to tumble have left investors jittery, with not much optimism left.

This may prompt investors to look for defensive stocks. One sector that may appear on the investors’ mind is real estate investment trusts (REITs), which have largely been posting resilient earnings and dividend yields that average some 6%, with some as high as 8%.

However, the REIT sector is not without its own problems. Besides the looming issue of weaker consumer sentiment, both office and retail REITs are facing a glut, a headache that may turn this category into earnings laggards going forward, as competition may push them to lower rentals.

Given all the negativity, are REITs still the safe haven they are purported to be?

It appears so as analysts said the majority of retail REITs have locked in their rental for the next three years, while their office peers usually have leases with 10 to 15 years’ tenure. Thus, earnings visibility is sustainable in the near to mid term.

“I think REITs are still relatively resilient compared to other sectors, as their rentals have been locked in for at least three years,” said RHB Research ( Valuation: 1.65, Fundamental: 1.40) analyst Loong Kok Wen.

She said the weaker consumer sentiment has little impact on REITs’ earnings as the income derived from the tenants’ revenue only makes up a small portion of their numbers.

“On that note, the rental income is sustainable and the downside risk is limited,” she said, though she expects slower growth in rental rate this year.

“Previously, the rental rate grew by 4%-5% a year. That could ease to 3%-4%,” she said, noting it will adversely impact mid-sized malls (500,000 to 600,000 sq ft) that are struggling to retain existing tenants and secure new ones.

“The big malls tend to have better bargaining powers, given their prime locations and high shopper traffic,” she told The Edge Financial Daily.

Echoing her thoughts, MIDF Amanah Research’s analyst Alan Lim sees occupancy rates for bigger shopping malls remaining stable.

“The bigger malls like Mid Valley Megamall, Pavilion Kuala Lumpur and Suria KLCC tend to have a long list of potential tenants. Should existing tenants move out, they can easily replace them with new ones as location still plays a major role in tenants’ decision-making,” he added.

According to a report by the National Property Information Centre, the Klang Valley has 230 shopping complexes offering 60.48 million sq ft of retail space as at the first quarter of 2015.

An estimated 60 million sq ft of new retail space is expected to enter the Greater KL market by 2017, while some 40 new malls will open by 2020. The retail space explosion is anticipated to cause a dilution and limit prime rental growth.

But Sunway Pyramid, the prime earnings driver for Sunway REIT ( Valuation: 1.00, Fundamental: 1.00), is unlikely to be affected as the Sunway Lagoon water theme park nearby draws crowds, according to Hong Leong Investment Bank Research analyst Abdul Hadi Manaf.

As for IGB REIT ( Valuation: 1.65, Fundamental: 2.80), Abdul Hadi said its two flagship malls — Mid Valley Megamall and The Gardens Mall — are performing well, with a 15% rental increase compared with its peers amid the poor market condition, as its tenants are making good profits.

Abdul Hadi said Pavilion REIT ( Valuation: 1.00, Fundamental: 2.80) is fairly stable and has very good quality assets, referring to the Pavilion Kuala Lumpur shopping mall and Pavilion Tower.

“They have a long queue of potential tenants wanting to get in. Hence, I do not see any risks for Pavilion REIT to impose rental reversion every year,” he said.

On Sept 18, Pavilion REIT announced that it is acquiring da:men retail mall from Global Oriental Bhd ( Valuation: 2.10, Fundamental: 2.20) for RM488 million cash, which is targeted to be completed early next year.

Abdul Hadi said post-acquisition, Pavilion REIT’s investment properties will jump from RM4.4 billion to RM4.9 billion while its geographical diversification will be extended to Subang Jaya.

“We remain cautious on the acquisition given plenty of mall supply in surrounding area and da:men has yet to commence operation,” he added.

As for the hotel and office sub-sector, its outlook remains challenging, according to an analyst, who declined to be named.

“The economy is slowing down and corporates are cutting down spending, especially expenditure on conferences and conventions.

“Food and beverages are the bread and butter for the hotel sub sector. With fewer conferences and conventions, REITs will face pressure,” he said.

As AA need to take up this debt instead of get fund from external, so AA cash flow will much tighter and will impact it pay out dividend. This is also telling us AA is hard to get fresh fund from market. So, AA will only slightly undervalue , For see RM will weaker at least for 1-2Q and more outflow of fund when the Fed rate hike. So, better sold than holding it.

Finally disposed all my AA , Thanks for AA to give me free tickets for vacation.
I will buy back when price get lower.

I better go for TunePro as any promotion from AA or AAI will benefit TunePro. Further more, expect tourism will get focus on coming budget!

The news was surprised me...i aware of the AAI debt but should not taken up by AA. So, today i disposed at least 2/3 of my holding. Of course will collect back if any price down below rm1.20

AirAsia to focus on Philippines-China route

Louise Maureen Simeon, The Philippine Star
Posted at 09/30/2015 10:50 AM
MANILA - Low-cost carrier AirAsia is likely to focus on the Philippines-China market as part of its plan to enter a new phase and return to profitability after a consistent struggle since its launching in 2012.

A report from think tank Center for Aviation (CAPA) said AirAsia sees opportunities to add several destinations in China from multiple Philippine gateways including the launch of Guangzhou in 2016 and other mainland cities in China.

“The Philippines is emerging as a popular tourist destination for Chinese residents despite some political tensions between the two countries. China is also a relatively big outbound market as there is a large Filipino Chinese population,” it added.

http://www.abs-cbnnews.com/business/09/30/15/airasia-focus-philippines-china-route

2016 seen as make-or-break year for Air Asia units in PH

The Philippine unit of Malaysian budget carrier Air Asia Bhd is seeing its outlook improve as it focuses on more international routes via secondary hubs and completes the consolidation of its brands, aviation consultancy CAPA-Center for Aviation said in a report.
Air Asia’s Philippine units represent the third major airline player in the Philippines, where they mainly compete with Philippine Airlines and Cebu Pacific Air.
CAPA said in its report that 2016 was a “critical year” for the Air Asia Group to prove that it can be a viable carrier in the Philippine market.
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“If it meets its 2016 goal of becoming profitable, aspirations for an initial public offering within two years will become realistic, providing a foundation for consistent growth,” CAPA said.


Read more: http://business.inquirer.net/199913/2016-seen-as-make-or-break-year-for-air-asia-units-in-ph#ixzz3nCm59IcL

Another positive news for MMC..

MMC's Senai Airport City in 60-year land-lease deal with Japan's Fuji Oil
By theedgemarkets.com / theedgemarkets.com | September 28, 2015 : 1:40 PM MYT

Still Q at rm1.25...

Thumb up.. salute to you; Mr Koon Yew Yin.

Even not a fund institution also bought in AA. Quality is continue bought AA (1st batch was rm1.40 and 2nd batch at rm1.32 yesterday)

（吉隆坡25日訊）品質混凝土（QUALITY，7544，主要板工業）本週共耗資68萬6792令吉，收購亞洲航空（AIRASIA，5099，主要板貿服）50萬股。

　品質混凝土向馬證交所報備，在週二（22日）以總值42萬1669令吉或每股1.40令吉，收購亞航30萬股。

　隨后該公司于週五（25日）再出手購入亞航20萬股，收購價為26萬5123令吉或每股1.32令吉。

　換句話說，品質混凝土本週已投入68萬6792令吉，收購亞航50萬股

Still hold ... patient will gain fruitful result.

Regretted to dispose to early, else at least can gain at least another 10%

Q at rm1.31 but failed to match any lot.
More promotion or add destination by AA and AAX will benefit TunePro

Accumulated few lot at rm1.31 & rm1.30, my accumulated average price is up but still below rm1.20
With some risk of rm further drop that caused weak sentiment(but provide good opportunity to accumulate), overall still positive base on present price.

Due to market uncertainty, decided to disposed all the Malakoff this afternoon . Will back when the price drop again. Thanks Malakoff.

Start to accumulate at RM1.31

Still hold..the only risk is RM keep dropping..

(吉隆坡22日讯）亚洲航空（AIRASIA，5099，主要板贸服）股价大挫后，投资者认为，现在是购入该股的时机。
亚航股价8月创下纪录低点，从16个月前，印尼业务发生空难时的股价顶峰，大挫了70%。过后账目又被质疑，还面对令吉贬值的冲击。
不过，Areca资本总执行长黄德明认为，该股股价大挫后，现在有买入的价值。
他说：“我们相信，大部分坏消息都已经计算在内，且该股抛售过度。”
该投资公司8月买入了亚航的股票，黄德明指出：“该股还有上涨空间，其中一个原因，就是低油价将对亚航有利，所以我们入场。”
他还补充，自己从来不喜欢持有航空股，因为该领域高风险。

股价被低估
“但亚航是例外，目前股价和公司价值间有很大的折价，所以买入。”
8月，GMT研究公司质疑亚航的账目、财源、现金流、负债和集团架构，也对有关联号公司的账目透明度表示担忧，导致亚航股票大跌63%。
过后，外资撤资，令吉贬值，亚航股价跌幅加剧。
其他不利因素，包括印尼政府发现13家航空公司的资产状况处于负数，若无法在指定期限内注资，将负资产转正，就会面临营运执照被吊销的命运。

至少6基金买入
不过，彭博社的资料显示，自亚航股价8月触底，至少有6个基金已买入或加码。
过后，该公司宣布回购10%股权，亚航股价也连续上扬了3天。
今年内，亚航股价跌幅高达49%。
目前油价介于每桶45美元，是今年来的低水平。
亚航集团总执行长东尼费南德斯8月时指出，该公司明年护盘结束后，燃油成本将节省高到1亿6000万美元（约6.8亿令吉）
。
机队价值超过市值
另外，马银行投行分析员莫欣阿兹9月初的分析报告指出，亚航的机队价值超过市值，目前的资产负债表，并没有反映飞机的真实价值。
他解释，因为该些飞机是在令吉兑美元更高水平的时候所订购。
闭市时，亚航报1.37令吉，跌1仙或0.73%，成交量有8837万3600股。http://www.nanyang.com/node/724791?tid=462

（吉隆坡22日讯）优质混凝土（QUALITY，7544，主板工业产品股）以每股1.40令吉，买进亚洲航空（AIRASIA，5099，主要板贸服）的30万股或0.01%股权。
根据文告，该公司是在今天购入亚航股票，总交易值达42万1669令吉。
不过，在收购了亚航股票后，优质混凝土的每股净资产、仍将维持在2.278令吉不变。
优质混凝土是一家供应预拌混凝土、混凝土桩，聚乙烯（PE）管材等产品的砂拉越公司，业务也多元化至发展住宅和商用房产，及为基建项目提供建筑工程。
该股今日无交易；亚航则收报1.37令吉，跌1仙或0.72%，共有8837万3600股易手。

ear-to-date, AirAsia has shed RM3.73 billion or 49.26% from RM7.57 billion on Dec 31, 2014 to RM3.84 billion yesterday, underperforming the FBM KLCI’s 6.91% decline.
However, investors have started to turn bullish on the stock, with 24 research firms predicting a 29.95% upside based on the average target price of RM1.97 apiece, according to Bloomberg data.
“I think the excessive sell-off [of AirAsia shares] is over and its recent recovery is within the market’s expectation,” TA Securities Research analyst Tan Kam Meng told The Edge Financial Daily over the phone, adding that the stock should gradually recover to its fundamental value.
He also noted AirAsia’s foreign shareholdings dropped to 48% as at end of August compared with 60% a year ago, mainly due to the decline in the ringgit against the US dollar.
Tan is of the view that the foreign shareholdings are unlikely to decrease further based on the current US dollar/ringgit exchange rate. Yesterday, the ringgit weakened by 1.8% to close at 4.2720 against the greenback.
Tan is reiterating a “buy” call on AirAsia with a target price of RM1.68, expecting the airline’s fundamentals to be stronger than before, underpinned by lower fuel price and lessening competition.
“As such, we see the current price weakness as a good opportunity to accumulate [AirAsia shares],” he added.
Maybank Investment Bank Bhd aviation analyst Mohshin Aziz also sees further upside in AirAsia’s share price, given that the airline has good earnings potential going ahead.
“I think the share price decline over the past months was overdone and has been priced in. The market is now looking at the positive side of things,” he told The Edge Financial Daily.
air-asia_chart_fd_220915_theedgemarkets_fb

“We are confident that the outlook for the second half of 2015 and 2016 is positive, given the low fuel price environment and the fact that Malaysia Airlines Bhd (MAB) ( Valuation: 1.40, Fundamental: 0.80) has cut significant capacity and raised its published fares significantly since August,” said Mohshin.
“Further, the airline’s proposed share buyback announcement last week is positive on the sentiment,” he added.
He is keeping his earnings forecasts and fair value of RM2.05 unchanged, which is based on 8 times AirAsia’s FY15 price-earnings ratio (PER).
PublicInvest said AirAsia is trading at a compelling PER of 4.3 times FY16 earnings, which is at its lowest four-year historical PER.
“This compared to its historical PER of 10 times.
“We continue to like AirAsia for its solid long-term potential growth prospects, low-cost competitive advantage and network connectivity and synergies within the AirAsia group,” the firm added.
Kenanga Research analyst Adrian Ng believes that the price recovery will be sustainable for AirAsia, should the yields be maintained at current levels and it benefits from lower jet fuel costs.
Kenanga Research reiterated its “outperform” “call on the stock with a target price of RM1.86 based on 1.32 times of FY15 price-to-book value

Still hold... it is normal for profit taking after price was up for last 2 days.

MMC機構（MMCCORP，2194，主板貿服組）為首選公用事業股項，以調整淨資產值估值仍是被低估股項，因該公司核心業務如港口及物流、及工程與建築目前估值仍被低估，預測本益比僅為5.2倍。
MMC仍按照計劃地將柔佛州的士乃機場城的地庫加以資金化，計劃每年將200英畝土地套現（若每方尺50令吉料將營造4億3千500萬令吉的營業額），除了提昇盈利外，也改善川行通道而加強其地庫價值。
MMC旗下的工程及建築業務，預料在2016年保持穩定。截至今年6月為止，其捷運地下鐵第1線路工程的隧道工程已完成約79%，惟相信捷運地下鐵第2線路工程合約料在2016年頒發，以便隧道工程可以開始啟動。
艾芬黃氏指出，隨著雪州與聯邦政府的水務重組計劃已達致協議，使MMC可加速進行總值15億令吉的泠岳廢水處理廠工程，以及總值9億9千400萬令吉的冷岳2水務處理廠計劃，該公司在財團裡持有34%股權。


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