Friday full of hope. Today exactly the reverse

Rebounded from the day low of 40 sen and closed at 43 sen. If downward trend continue tomorrow can trigger more selling pressure

Ekovest closed at the day low 39 sen. If fall below <39 sen may see or trigger more selling pressure tomorrow .

Affin closed at the day low 3.10/3.11

Just be cautious. Bursa is a favourite hunting place for the foxes and predators.. Always trade with caution & do your own homework

China aggressive aim of self sufficient in petrochemical manufactoring & production is causing an imbalance between demand vs supply. Look at how China outstrip the manufacturing of gloves production

Million dollar question.?

Just wait for the official acqusition announcements from Abang Johari. Sarawak and Sabah asking the 35%quota in Parliament. Currently they holds arounds 26 %

Just to add on Sarawak State is the largest producer of natural gas in Malaysia. Previously sale of natural gas is channel directly under Petronas but now the distribution of natural gas is reverted back to the Sarawak State government under the purview of Petros { the gas aggregrator for the state licensing, distribution and retail} 13 multi national companies have received their licence from Petros. Another 3 more applications is still pending.

Me too are puzzled why certain individual label it " pump & dump". Reminds me of YTLP in their early bull run { a few individuals keep asking people to sell and dump the shares } from the 2.10.... right to 2.50.....3.50.....4.00..... Now the price is 4. 35 { even after the pull back}

Look at how YTLP perform {never a straight line} on /off pull back. Set your target price and trust your own judgement.. Banks in Malaysia are said to be resilent and closely monitor by BNM.. Stability and most of all risk adverse vs banks operating in UK or EU

Not a buy call. Just my own take how the 30% or more is coming from. Please do your research before you buy or invest

Sarawak has 4.95% or below the mandatory disclosure holdings of any one party holding > 5.0 %. Premier Abang Johari has make public to acquire 30% stake in Affin Bank. LTAT has inked the MOU to sell part of their stake to Sarawak. The largest shareholders of Affin is LTAT 24% { minus 4.95% sold} HK based Bank of East Asia 23 %. Boustead holds 20%., KWSP 5% and other Glic linked funds holds 2 or 3%. We cannot rule out other friendly based parties to the Sarawak State has acquired more stakes in Affin Bank. It's always a number games to have majority stake in any companies

Without prejudice to any parties. owners who have pledged their company listed shares for financing will be hit hard. The banks will be pressing them to top up their margin financing or forced sales their pledged shares..... Banks are like licensed ah long

Can go either ways. Need to see how the short sellers move in the afternoon trade. this shorties may be tempted to depress prices further by pressing below the 39-40 sen support

Panic selling. Red sea across the board.

Panic selling. Red Sea across the board

A bank profitability really lies on its own ability to tap into the "Casa" deposit base against the spread in the bank's lending rates. With the State backing the capacity to increase its "Casa deposit ` is enormous. Look at PBB operations their huge 'Casa deposit ` is always a plus for their profitability. Not a buy call on Affin just my 2sen own view on Sarawak State share buy on Affin acqusition. Remember in the past Sarawak have 6 local popular bank operating prior to BNM/MOF countrywide merger and consolidation

To be fair to all parties. Nitrite gloves and medical gloves have the highest margins. Whereas volume wise. commercial or industrial gloves is the volume leader but with the lowest margin { not to mention contract manufacturing.}

Sarawak state has budgeted 12.36 billion for 2024 in December last year { excluding the special allocation off the Petronas oil revenue royalty which the State has renegotiated} We are a few months away from the Federal Budget for 2025 to be presented in Oct in Parliament by Anwar {PM} Expect Sarawak to receive more positive developments under coming 2025 budget

With short selling. This IB have a distinct advantage over the retail players. Just be ready for TG to push below 1.00 mark {and classify as a penny stock} IB s have alot of ammunition

Without prejudice. Maybank IB issue the down grade after thier team visited China 2 glove manufacturers. Yes. Agreed China growing capacity in Glove production & manufacturing is a threat. But the fact we remains Malaysia is the home to TG, Harta, Kossan all household names in Glove production. I suspect more selling pressure will apolies on TG by IB's. Prepare for more volatility

Looks weak...... TG trending down

Looks weak..... DFX trending down

Without prejudice. All the 9 banking institution group is govern and under the strict supervision of BNM { unlike the late 90's where the banking industry before the meger and consolidation initiated by MOF and BNM. The current institution share holder{s} group of AFFIN consist of LTAT {28%} that is Armed Forces pension fund, Bank of East Asia {24%} Hong Kong listed companies and a long time strategic investor, Boustead Holdings holds 20% and our local KWSP holds around 5%. Other insurance, IB's, unit trusts and Glic link companies holds betw 2 %-3 %. Not forgetting Sarawak State owned incorporated corporation recently acquired 3% of Affin banking group. Not much of a free float if you really digest their shateholdings

Affin testing our patience

Today market sentiment is bad. DJ opening is up. Should be better tomorrow

Affin banking group has a total of 115 bank offices operating in Malaysia. Out of the 115 only 4 branch office`s in Sabah plus another 4 in Sarawak. Tremendous scope for Affin to expand is reach in the 2 Borneo states. Sarawak and Sabah once was dominant in their own turf having household names like Hock Hua Bank, Bank Utama, Wah Tat Bank, Miri commercial bank, Bian Chiang bank, Kwong Lee Bank and Kong Min Bank. Even UOB {Founder Wee} started his initial banking group in Sarawak. Sarawak is a rich state but through the bank consolidation and merger. The land of the hornbills has lost all the above regional banks

NUBE is the union of workers in Malaysia commercial banks { clerical staffs and non clerical workers} excluding executive officers who have a separate union. NUBE has started picketing over stalled negotiations

Rotation play

Face saving for Abang Johari. Sarawak delegation was here in the capital to witness the signing Sales & purchase ceremony with LTAT

Macgver111 it's your pick. DFX and Veles both are penny stocks. It's all boils down which counter "goreng first"

DFX counter testing our patience

Boustead {LTAT} owes Royal Chulan

Yes. SARAWAK is the game changer

The above news article was updated on 5th January 2024

Contrary to certain views. Most anaylst{s} believed and expect banking stocks to drive the KLCI I 2024. Banking stocks constitute 20% of the KLCi index. In addition foreign funds looking to invest in the market are most likely to make a go in this sector. Banks have displayed resilience and achieved solid earnings in the recent qtr earning result. Not a buy call but repost a review by Kenny Yee of Rakutrade. Another senior equity analyst concurred with his views and cited renewed optimism on the market. Please do your own research before you buy or invest

Affin Bank was a drag and a laggard in the banking scene despite with LTAT {Boustead} helming the ship. With a change in the ownership structure maybe Affin can now reinvent and grow it's business presence. Affin started off as Perwira Affin Bank in 2000 and later merge it's operation with BSN commercial. For better or worse time to see a new structural in their business direction

Need to clear 22 sen first. Still struggling between 21 - 22 price range.

Yes. DC is the buzz word. Market looking positively at DC related stocks. Others relegated to side show

Look at Gohub. IPO at 34 sen. Second day price trading push to 96 sen. Not fundamentals driven but sentiment { or put it mildly speculative trading } Mr Market is not logical if they want it they can push it. Depends how deep is their pocket

Without prejudice. If DFX can secure part of TM upgrading works. The coming quarter's result for DFX will be positive not forgetting DFX operations and profitability will rise in tandem. Just my personal own view

YGL red hot on the list. DFX? Your guess?

Continue to slip. Looks weak

DFX need to have a clear break out above their MACD 21-22 line of resistance. CABNET and DFX offer different trade opportunities.

TP 24 - 25 support pegged between 19-20.

I suspect rotation play. Just monitor closely their opening start up and end day closing { OHLC charts}

Others DC related counter{s} power up but JTG sort of flounder neither here or there after run up

Yes. Albukhar Nothing wrong with cashing out. It all depends on one own risk appetite. Cheers to eveyone

BRICs Just a matter of convenience. Whether investment comes in still subject to people's own choices or criteria. Better be friends with people instead of openly bashing or quarrelling. MALAYSIA is a small country