GLC performance cannot improved much because continued Politician or govt interfernece (eg TM heavy interference by Gohind). LGE or PH say 1 thing, do another thing.

PH dont believe spending money on planning by employing good advisor. Canceling GST, now have to squeeze here n there, using hit n run stretegy. As such, Rakyet will feel hits from time to time.

No toll Abolishment. Toll Operators shareholder beware! PH will take a hardline in renegotiating toll hike or deferment. Toll Operator has little bargaining power, since there are very small operator. GET READY BE BULLY!

PH is reforming the economy from Capitalist to Socialist to address income inequity. More reform is coming. Wealth of Top20 and Middle40 will be destroyed!. PH must strike to balance, T20 n M40 is awaiting to revolt!

If PH is socialist govt, then LGE do the right things (tearing contract, chase away investor, reduce income gap etc). Indirectly, he is destroying people wealth.

If PH still want Msia to be a capitalist Country, LGE do the wrong things!

LGE bully stretegy will work only for weak players (eg Gerge Kent). It wont work on Country Iconic Company. Soon LGE will U-Turn again.

By continueosly dishonouring the contract signed mean investor interest are not protected. As such, foreign investors will keep leaving Msia and there is no sign of leaving will end soon. When foregin investor leaving, this make our Economy slow down. Soon Interest rate will down and also Exchange rate.

Gamuda is our nation Champion in Tunneling Engineering Work. That why it dare to say no to MOF. LGE want to bully nation Champion wont be easy. Soon LGE will U-Turn.

Aggressive share buy these few days more than 2mil shares. Right stretegy. Buy cheap at RM1.00 to RM1.03, while company net asset per share at RM2.50 @ 31/12/17. Cash balance at RM250m @ 31/12/17.

PT Airasia Indonesia up again 25% to Rp482 this morning. 2 day ago only rp248. Base this price, Indo unit should be able to raise capital from market.

Investor seem very positive about PT Airasia Indonesia (stock code: CMPP). Yesterday up 20% to RP310. This morning up another 24% to rp386.

Research house 'panic' revise upward AA target price, after reading SEA 2 leading LCC 1Q16 result

plane net profit
ThaiAA 47 usd 51m +99%
Cebu Air 57 usd 85m +81%
MsiaAA 80 ??

MsiaAA result will be known by end of the month.

AA today is supported by ThaiAirasia 1Q16 result where net profit up 99% to USD51m.

http://centreforaviation.com/news/asia-aviation-public-company-releases-1q2016-financial-highlights-554255

In a market which is bullish on airline stocks, the PP to shareholders may not have negative effect on the share movement (very negative if it is in bearish market).

The share movement is determined by investor sentisement in short term. The EPS dilution 16% and PE ratio is purely academic as supply and demand are the only factor determine the price. Somemore, the new shares will be on the market few month later (and investor believe TF would not to dispose it in short term). Investor may view positively as more commitment from TF and More fund for biz expansion. TF believe AA is undervalue.

In this exercise, TF very obvious has take advantage the low price of AA, only issue to them and not 3rd party. Anyway, rm1.80 price is still above AA net asset rm1.60. The 4 sen adjustment should interpreted as discount to weighted average price rm1.84. Logicaly, They should not entitle dividend, as they have not make payment for the new share.

Amfirst Mull to sell Summit Hotel for RM100-RM110m. (Source: DigitalEdge Weekly Aug17 2015 , page20).

Today close 60sen. Some investor may be impressed by Annual Report Jan 15 release by this week. Chairman Statement say the following achievement in the yr 1) Freshwater stingray quality & quantity has been improved 2) Productivity of Arowana Fish has been increase 3) Borrowing has been reduce to just RM1.5m.

The share price of XL movement appear more depend on its future earning stream. Therefore, land whehter revalue or not are not so relevant unless the land is going to be disposed soon.

Now 58sen. Last Tuesday 36sen. Co inform Bursa no unsual activity. NTA @ Jan15 is 65 sen. This co may benefit from depreciating Ringgit on Export Fish Biz and strong local liquidity play. Or may just rebround from low 20sen. About 7-9 yr ago, share price drop from RM2 to low 20sen!

Chairman Ku share it view on co future plan in today SinChew newspaper.

http://klse.i3investor.com/blogs/sinchew_company_story/70004.jsp

They must be find a buyer at Rm4.44 since the 2m share transacted within 2 minutes ie btw 9.53am and 9.54am yesterday.

KSL clarify they sell 2m treasury share yesterday. Mistake, wrongly reported as buy back.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1813577

Some positive surprise on Q314 result - Indonesia & 2 JV units. Indonesia unit break even! Must thank to close down of TigerMandala, which its route nearly all overlap with AA. Asia Aviation Centre made profit 58m. (not sure why so high?). AA Expedia made profit RM30m.

AA fate is totally different from AAX. AAX biz model, median haul LCC, need continuely to be refining and will take very long period to prove itself. Investor need deep pocket to park money in AAX.

Syndicate play mother KSL this morning to generate interest for 10 month KSL-CA & KSL-CB which listed today. CA & CB, both price at 15sen.

http://klse.i3investor.com/blogs/kenangaresearch/63733.jsp

Airasia 3Q14 ops statistic. Overall improvement, but Philipine unit still very weak with load 65% (LY:59%)only. See below for cos comment.

http://www.malaysiandigest.com/business/527367-airasia-reports-q3-2014-operating-statistics.html

QE again. This time from Japan. Market always reward growth stock with QE with excess liquidity.

KSL is already under Bloomberg radar!. The latest Weekly Edge 3 Nov 14 (page10) listed KSL as one of 14 cos with positive qtr earning growth, single PE, at least 4% yields, according to Bloomberg data.

Johor economy is booming ......

'....last year, Johor received RM14.2bil investments, making it the top investment destination in Malaysia. From January to July 2014, it had received RM18.6bil in investments.......'

http://www.thestar.com.my/Business/Business-News/2014/10/20/MB-Iskandar-will-stay-a-favourite-Johor-confident-investments-will-keep-coming-in-despite-economic-c/?style=biz

Heavily doubt interim div will be declared. Based on KSL mgt style, will only declared in 4Q result.

The coversion of 2.2m warrant to share most likely are those cash rich long term investors (or some Ku family related member). They are here long term, just interest in div not warrant premium.

It is not something unusual mother is trade higher than warrant. This could happen when market expect mother have little upside or expect a correction, especially in a bearish overall market environment. Anyway, market is dynamic, market sentiment and expectation can change at anytime with some events.

Yesterday up 37sen. today up another 18sen at RM4.42 now 11am. Volumn still low at 1.1m. Look like there is no enough seller in the market....

...Expect recurring income growth btw 15% to 20%....
...KSL City occupancy rate >90% ....
...Look to buy more land....
...Concentrate mid range housing, demand always there ...
...upbeat long term bcos scarcity land across crossway...
...our sales have actually pickup as we are aggressive...
...in spite slowdown, KSL cont with pipeline of launch...
...looking into upto 30% div payout (recurring income)...

More clarity revealed by Chairman,as report by latest Weekly Edge(8-14Sep14).

Assume FY14 EPS 65sen. Current Mkt PE of 10X for mid cap property, should value KSL at RM6.50.

Europe slowdown bcos Ukraine Crisis. EU QE is coming, definity good for South East Asia share market which is booming.

Finally, back in broker house coverage. Kenanga give fair value RM6.63.


http://klse.i3investor.com/blogs/kenangaresearch/58195.jsp

Finally play strong catch up with other 2nd tie property stock like Brem. Brem NTA at RM2.80 and its price has move from last yr RM1 to now RM2.65. KSL NTA at RM3.50. With stronger mgt at KSL, KSL has good chance moving toward RM3.50 sooner.

KSL-W only at RM1.56, very low premium (conversion price RM1.60, expire 2 yrs time). Market seem price in a consolidation of mother price.

KSL now at RM3.10 are well support by NTA RM3.50 ie P/B only low at 0.88 time.

Airasia Indonesia have better prospect to turnaround soon as TigerAir today declare they will close their Indonesia operation, Mandala on 30/6/14. Airasia will benefit the most as Mandala is primary focus on international routes competing against Airasia.

Malaysia Aviation Turbulance Times:

Another story: Malindo Air catch fires. Return back safely today in Subang Airport.

http://www.nst.com.my/latest/terengganu-bound-malindo-air-plane-catches-fire-1.533217

Blame loss on lower property dvpt revenue, fair value investment loss (RM8.8m), rpgt RM (RM12m), another distorting factor is depreciation increase to RM8m during 4Q13. Full year 2013 dep only RM10.6m (2012:RM3.7m). This can be seen in Note 25 of the report.

The depreciation mostly like related to plant & machinery, might due to prior year/quarter underdepreciation or plant accelerating depreciation due to change of useful life usage estimate. 2012 Annual report Note 14, show P&M cost at RM20m at 31/12/12.

TF tweeted 'bloomberg report error. AA is declaring dividend.' Better wait & see.

Correction Time due to over optimisim expectation of 4Q13. KSL stock has a lot of potential. The current market are pricing the potential of mid cap property stock like EcoWorld, MKH, CHHB, Brem, to narrow the gap btw big & small cap. The pricing of potential would continue so long as Malaysia GDP register moderate grow amid low interest rate environment.

hit new low yesterday 98.5sen. Assuming DPU is 7.2sen, gross div yield would be 7.3%. Only small investor is interested, but not big fund like EPF as counter is small and illiquid.

Will Lion Boss Rusdi Kirana retired from Lion Air CEO position sooner or later? To be more involve in Politic Party PKB?

http://www.republika.co.id/berita/nasional/politik/14/02/08/n0neaf-pkb-sulsel-dukung-rusdi-tinggalkan-lion-air

Only Time Tell !!!

Will the price war with MAS end sooner or later? Khazanah want MAS improve yield!

http://www.btimes.com.my/Current_News/BTIMES/articles/MAS20/Article/

Hmmmmmmmmm........we shall see, folks!!

break RM2.30, postive mid-cap play sentiment. Lead by Country Height.

U.S. stocks rallied 292 point on Wednesday after the Federal Reserve announced a small reduction in its stimulus program but stressed interest rates would stay low for even longer than previously promised.

Will AA rebound strongly, with foreign investor overreacted to Fed tapering?

Malindo Air Hot News '.....More than a year into its partnership to form the country’s newest airline, Malindo Air, owners Indonesian billionaire Rusdi Kirana and National Aerospace Defence & Industries Bhd (Nadi) are said to have fallen out, with talk of a possible exit of Nadi from the business....'

http://www.malaysia-chronicle.com/index.php?option=com_k2&view=item&id=201461:drama-at-malindo-air-fallout-between-top-owners-indonesian-billionaire-rusdi-malaysias-nadi?&Itemid=3#axzz2nbNTfUnN

PRice drop may due to poor sentiment of foreign selling heavily in Singapore REIT last week especially Industrial REIT. It is believe Spore Industrial property are overprice due to easing US Fed policy. Now Fed tapering is coming very soon. May be overreacted in Msia since Msia property is not cynical as Spore.

Yesterday only up 2 sen though release good result. KSL seem grossly undervalue on PE & NTA basis, it will need take longer time to reflect it value as Investor show lack of interest due to current softening property outlook. Big run of price can be only expected on improved property outlook.

Affin research house stated 'expect KSL FY14 earnings to weaken from its record FY13 net profit due to the softening in Johor property market as a result of the recent regulatory curbs on property speculation and foreigner purchase.'

cash balance in KSL improved to RM114m @ sep 13 from RM44m @ Dec12. May be this provide some hope on year end dividend.

On median & long term basis, KSL holding vast Iskandar land bank, will benefit the most from Spore investors. Spore investors is getting richer day to day due to their 'money minded' govt which have strong appetite favouring richs & talented investors to boost the City growth.

There is view that Kirana making big order is to get huge discount. Cheaper cost mean will easily get investor support for financing. Latest purchase 737Max & A320, both popular model support this view. All the order is done before Bali crash incidents. After the crash, indonesia biz seem going south. If plane got no where to park, should consider plans of lease out or sold out. However, lease or sold cannot be done if lease rate or selling price is not good. Judging what surronding lately news reported, the only thing can say is Good Luck to Lion Air.

Financer will come as long as your plane is popular type like A320 or 737-800 boz of good resale value or re-lease and cheaper maintance cost. Not 737-900ER type operated by LionAir.

If look at Airasia account, back to envelope calculation indicate downpayment is far less than 5% discount price, may be 2%-3% for booking the slots.

Talk about 10-20yr later about lion air? I think too long. Lion Air indonesia operation is doing badly lately. When an airline in trouble, first thing they do is to default lease payment. Will this happen sooner or later, just watch out lor.

How do Lion air service 230 planes, Sydney morning herald asks, how about 1000 planes?

The article may not have a complete answers. The following are extracted from an online airline forumers, which may have a more complete answer to funding: New Innovative Financing, Always look for Financers.

....Funding? All you need is funding to get the order going, like 5% to get the slots. The US EXIM Bank then guarantees the order. The leasing companies then take over for the rest. So...

1. Discount pricing for the bulk order.
2. Pay 5% (of the discounted price) now, to secure the production slots for the order, and this can be paid by someone else (ie: financed) on behalf of Lion Air.
3. Pay the Pre-Delivery Payments about 24-12 months out before the aircraft is delivered, this can be financed (either on behalf of Lion Air, or on behalf of the aircraft), and ranges from 20-50% of the discounted price.
4. Pay the remaining amount (25% to 55%) on delivery. Either the financiers pay for this, or the airline pays for that amount then immediately sells it and lease it back (depends on who paid for #2 & #3).

So, for every aircraft, what Lion needs to come up with is 5% now for the bulk order... and just make sure it pays the monthly dues from "as little as 2 years out" to the amount of leasing 1/4 or 1/2 an aircraft, then lease the aircraft fully once it gets delivered. (and it seems they're not short of willing investors for the aircraft through private placements either).

Remember Lion converted several 739ERs to 738s due to financing reason (mainly because there was worries about the resale values of the 739ERs hence raising the financing costs).

Numbers appeared much better than market expectation. At RM2.51 may be near to bottom out. Able contain the damage done by MAS & Malindo irrational low fares to minimum.

Will the 6% GST effective in April 2015 impose on domestic flights? Let see what CIMB said.

http://klse.i3investor.com/blogs/cimbresearchklse/39355.jsp

Nomore BB news. BB could be in Indonesia,very busy delivering the aircraft tyre to Indo from overseas. Lion Air last week flight delay again due to shortage of tyres.

http://www.thejakartapost.com/news/2013/10/19/lion-air-admits-negligence-caused-flight-delays.html

Another news, Thai Lion to launch end 2014.

http://www.bangkokpost.com/business/aviation/375563/thai-lion-prepared-to-roar-at-budget-carriers

Hmmmmmm! A weaker Lion is it mean a stronger AA? Really food for Thought...... .Definitely, a weaker lion is not capable to attack bull or bear. So BB is safe to play around with lion!

Do not under estimate the power of BB. AA up is because BB did not posting!!