Before election reach RM3.70. After BN win the election, reach even higher on the expectation of more foreign direct investment to drive up industrial property price. Currently ,there are shortage of industrial/warehouse property in Penang & KlangValley.

Compared with another small industrial reit -Atrium Reit, Axis is in a better position to capitalise strong industrial property demand by constantly upgrading/rdeveloping it assets to maximise the rental. Sponsor acquisition by Axis is still possible in this current high property prices environment.

However, Axis closing @ 16/5/13 RM3.87 is not cheap on gross yield 4.6% (18/387), beating all the retail reit with the exception of new listed KLCC staple reit.

With DryBulk Baltic Index at record low level of 861 @ 15/5/13 (historical high is 10,000++ in 2007), any rebound of share price most likely shortlive.

AA share px performance is laggard compared with its associate, ThaiAirsia and TuneInsurance due to concern of potential competition from Malindo Air.

However, AA prospect appear getting better, as malindo launch daily service to Sibu, Miri, Tawau with launch fare of RM98, RM98, RM138. The launch fares pose no threat to AA at all and are not cheap compared with luanch fares to kuching (RM38) and KK 2 mth ago. It seem that Malindo try to avoid a direct competition with AA by offering super low fares.

AA share price get a boost from declining oil price lately. Selling from major shareholder was well absorbed and such that major shareholder statistic are not so relevant anymore.

MrBB, careful now! a new challanger is around. You should continue play safe and hide in the cave.

AXIS price closed today 17/4/13 @ RM3.68, suprisingly beating all the target price recommended by all broker houses.

Look like analysts have to buck up and revise upward the target price of AXIS ASAP to stay 'ahead' of the market.

Other than today a Lion Air 737-800 plane crash into Bali sea on landing, other Lion Air recent incident of safety record as follow:

1. On 1 Nov 2012, a Lion Boeing 737-400 from Jakarta bearing flight no 716, skidded the runway during landing in Bandara Supadio, Pontinak.

2. On 23 Dec 2012, a Lion plane from Jakarta bearing no GT 260, burst it’s tyre during the landing of Bandara Hj Raja Fisabilah, Riau Island province.

3. On 30 Dec 2012, a lion 737-400/ JT 71 8 from Jakarta, skidded again the runway during landing in Bandara Supadio, Pontinak.

4. On 21 Feb 2013, a lion 737-400 plane burst the type during landing on Bandar Supadio, Pontinak.

If AAX dont fly to India Metro City, Malindo Air (with extended range plane) will fly to those city.

If we exclude the 'Iskandar' Thame Play factor, the return for property stocks for the past 2 month is more and less in line with KLCI. Iskandar Drivers are primarily determined by Singapore Dollar, less from Msia side.

Based on Msia sound macro factors, the property boom can last for a few more yrs. Property stocks with sound fundamental, are expected to do well in next few yr ahead.

Market up marginally today. Now the market has priced in the election result, in anticipating Najib will form the next govt. If any event later change the market expectation that Najib is no longer next PM, market will crash.

So folk! MrBB! All readers! Invest wisely, otherwise will burn your hand badly!

Millionaire, are you still around? Put on weight already, eating abalone everyday? Is MrBB a 'she' or 'he' or....?

This counter, it annual return (capital gain & net dividend) estimated about only 10%. Very little return even for some long term investors. It is more suitable for Leisure Investor, who invest for fun. Definitely not suitable for investor holding hard core cash.

This counter is mean for dividend payout, not for capital gain. Born in the 'wrong' industry where currently there are oversupply of office space in Klang Valley. Also, promotors and management capability are not as strong as some other REIT manager.

AM from day one is already a Kampung REIT. Ten year later from now, it remain will be same a small Kampung REIT.

AXRB share price closed last Friday 22/3/13 @ RM3.35, generate a FY13 gross yield of 5.3% (18/335). Which is still lower than retails REIT’s yield ranging from 4.5% to 5.0%. Some long term individual investors are contemplating of to take profit.

In fact, the run up of share price for past one year is due to strong capability of management team of AXRB capitalising on strong property market vide its timely comprehensive assets redevelopment and refurbishments exercise to tailor need the new demand. Also, most of its assets held are well located and its surrounding areas enjoy rapid price appreciation. In addition, there is also shortage of warehousing and industrial space in Klang Valley and Johor Bahru. A strong property market will ensure healthy rental revision, faster assets refurbishment and redevelopment, higher capital gain on assets disposal. All these will translate into higher dividend.

Therefore, as long as property market remain booming, the share price of AXRB mostly likely on uptrend.

Based on recent macro data of [1] huge national current account surplus [2] government debts high but still manageable [3] well capitalised banking system [4] Govt’s Economic Transformation Programme [5] weak Europe economy recovery (ie mean less inflation pressure & low local interest rate), [6] resilience of Asean region economy, it appear that Malaysia strong property market can at least continue for a few more years.

Par value only 1 sen but sell at offer price 75 sen. Really can't believe the logic behind. The company has no biz at the movement, but with a group of oil and gas business professionals. Imagine how many years u will take to build a biz from RM1 mil to RM75mil.

Now market is in JB Inskandar property theme play. Will oil & Gas theme be on play when Clip listing? Only time will tell.

As mentioned earlier, Lion Air boss has set up a Aircraft leasing co in Spore recently. Look like they are venturing into a aircraft leasing biz soon.

Admist uncertainty of election, huge run-up to RM1.94 from Jan 13 @ RM1.43. Together with Tebrau & UEMLand, JB LandBank Theme continue on play. Election defensive stocks and with low foreign shareholding. Valuation is catching up with Inkandar Water Front targeted at mid year IPO. JB is like 15 year ago of HongKong's Shenzen.

On longer investment horison, looking forward further price upside on 2 ground. 1. More positive new flow from Spore. 2) Strong quarterly result indicating fast turnaround time from landbank into bottomline.
3) Net Asset @dec12 at RM2.79 (without landbank valuation).

However, there is risk of property over-supply glut, if JB cannot acheive strong grow or government property cooling measure if too fast run-up of property price.

AA div for FY12 is 24 sen, generate yield 8.6% at current price RM2.78. Assuming AA cut it div 50% to 12 sen in FY13, yield will still attractive at 4.3% (12/278). No wonder local investors like EPF keep buying lately.

As price drop, MrBB will keep buying. Soon and later, we will read the announcement .... Mr BB become substantial shareholder replacing wellington. ...LoL....

THe drastic downgrade of TP from RM6.50 to RM5.40 within a month, reflect a slap on the broker house face. The sharp downgrade to enable the broker house to rectify the wrong assumption of overly high GP margin used in previous assessment on making the profit projection of APM.

In fact, b4 the 4Q12 result announcement, there are rumours in i3portal that APM is under pressure to cut selling price to customers.

On SWOP analysis, unsual high GP margin of APM for the past 2 years is not sustainable going forward, as APM derived 65% from only 2 customers, proton & peradua. Therefore, APM is only a price taker.

APM has found it difficult to make inroads into regional automotive markets whether through exports or overseas operations. This indicate the APM is not competitive on regional basis, but some extent, still competitive in domestic market.

In conclusion, most of the broker house are over optimistic on the APM biz outlook in their previous asessment. In reality, APM are still a domestic players. When margin become high, Proton & Peradua will knock the door and ask for price reduction. Want to be a Asean big players, APM still very miles aways. However, APM has a very light assets balance sheet, generate huge cashflow every quarter. The cashflow can support generous dividend and share price. Going forward, APM should view as a dividend stock instead of growth stock.

Outlook of Hektar are getting better & better.

Annual report 2012 indicate 2012 traffic for Subang Parade & Mahkota Parade increase by 44% and 34% respectively. Therefore, healhty rental revision rates expected for both mall in 2013.

On the other hand, the reposition & reburnishment of 2 new kedah malls acquired in Oct 2012 (Landmark & Central Square), are expected to completed by end 2013. Healthy rental revision rate are expected after the exercise.

With (1) stronger outlook of rental revision rates, (2)current high gross yield at 7.1% (10.5/148) and (3)potential yield compression since retail peer trade at yield range 4.5% to 5.0%, these 3 fundamental factors point to the high possibility of strong run up of hektar share price in later part of 2013.

Challengers keep changing from time to time, the defending champion remain is MrBB. lol....

Last day for entitlement of special div. AA up 3 sen to RM2.99. MrBB diam-diam rest in the cave. Look like investor do not think Malindo Air hyprid biz model (more close to Full Service model) will pose a big threat to AA.

Indo media this week report that Lion air Boss lately form a plane leasing co, call 'Transportation Partners' in Spore to lease the plane to lion air and outsiders. Is this mean that Lion Air may have over order the plane and cannot absorb all of them?

Launch of Malindo Air on 22 March.... . May be is a good news.

To certain extend, investors will have a clearer picture of Malindo Business Model when assessing the impact of Malindo Air.

The Star reported that 'Malindo Operating Boeing 737-900ER airplanes, which have a capacity of 180 seats each and capable of serving destinations within a five and a half hour range'. Website also reveal that there are 15kg free baggage allowance on Economy Class, Extra legroom 32” seat pitch, meal provided, enjoyed aerobridge from KLIA main terminal.

It look like they are hybrid with biz class since they are only 180 seats. Will this Malindo biz model work? I think within few month, we will have the answer.

Special of div 18 sen, Tune Air are getting approx 128mil dividend, based shareholding of 25%.

MrB&B should change his favourate statement:'Tune Air has acquired a total of 44,080,000 units at ZERO cost (instead of an average price of 2.904 costing Rm128 million) from 15 Oct 2012 till 29/01/2013.

Sharp correction from RM6 to now 22/2/13 3pm @ RM5.20. What has gone wrong with stock? Fundamentally, RHB last week reveal the weak link of APM. In short are as follows:

1. APM is still reliant on sales to domestic OEMs. APM’s revenues mainly come from domestic OEMs (about 75%) of which about 65% are derived from sales to Proton and Perodua.

2. APM is a price taker. With the domestic OEMs under pressure to be more cost competitive, Perodua and Proton have implemented a 15% price reduction across the board beginning 1 Jan 2013 without any corresponding volume undertaking.

3. Limited export and overseas sales. APM has found it difficult to make inroads into regional automotive markets whether through exports or overseas operations. Japanese and other major global autoparts vendors already dominate regional automotive assembly hubs in Thailand and Indonesia.

4. Looking beyond organic growth. The founders of APM have historically managed the company conservatively and only growing organically.

Contrasting fortune within Airasia group. ThaiAirasia rose from IPO THB3.70 in mid 2012 to yesterday close of THB6.85 While Airasia drop to RM2.61 today 11.40am.

Tune Ins is very attractive growth co. However, at IPO price RM1.35 look pricy in term PE compare with industry especially in this negative election sentiment.

No choice. Better for MAS to beef now. Malindo Air also want to adopt turboprop ATR plane to compete against Firefly. Whether Malaysia government will approve this turboprop licence, will remain to be seen.

Refurbishment of Reit property are yearly rountine job of REIT. By refursbishing, it maintain the property value of the property.

MrBB feel too lonely with no challenger! ... He think ... He write ... He read ....... He laugh himself...... He ask himself ...... He is a very happy man...... .Is it a good way of self entertainment?

MrBear now is keeping a lot grasses in the cave for the incoming extended ultra long hibernation period.

Since majority of investors are foreigners, this stock woild be more volatile at listing, may below IPO, especial ahead GE. The stock is attractive in long term, but pricy in short term. It will take sometimes b4 new mgt can unlock the value of the biz.

How Tune Insurance (TI) IPO at offer price @ 1.35 benefit AA? AA bought 122mil TI share at RM16mil in 2012 on a special arrangement deal, work out be 13sen per each TI. Therefore, gain to AA would be RM148mil (122mil shr x RM1.22).

AA no of share listed is 2.8 billion share. The gain of RM148 mil will increase asset per share by 5.3sen (RM148m / 2800 mil shr).

Only 5.3sen, very little. But still better than nothing lor ......

An escaping wild bull running madly, kicking out a lot of animals and eventually bang into a sleeping bear in the cave, become bull+bear. ..... This is the origin of story.

MrBB is a very well discpline animal. The last post posted by him today is 11:54am. By then AA share price still in red. From 12:00pm onward, AA become green, then MrBB never do posting anymore. Is MrBB a person full of good displine, play within this rules?

EPF buying decision may be influence by The Edge Weekly (21/1/13) reported AA may pay special div, as high as 18 Sen (50% FY2012 profit)arising from Free cashflow more than RM300 mil on JV IPO.

Another falling KLCI 16 points. Well folks, should we talk about eating kacang putih and drinking sky juice (plain water) instead of abalone and roti canai soon?

Another interesting Article from CAPA today with heading 'Why Airasia do no need in JV in Asia?'. In short, no JV is because each new JV incur huge start up cost and Airasia Asean 3 JV has cover nearly corner of the region.

http://centreforaviation.com/analysis/why-airasia-doesnt-need-a-new-affiliate-in-singapore-the-rest-of-asean-and-potentially-all-of-asia-95690

It is Punters day! China Auto Part IPO gain 75% at 9.45am!

Too much liquidity in the market? A good sign for 2 & 3rd liner ahead?

Ops, You give the address of the website, then MrBB will be jobless, no more reader to follow him!

Too many variable? ... many be only 2 key variable need to watch out... malindo new & high foreign shareholding.

AA in red. MrB&B, as expected, come back to do his P&C (Paste & Cut) work.

There is an unreliable rumour that MrBB will be appointed as Safety Director, the highest responsiblity and highest paid position of the Malindo Air, overseeing the safety of the passanger and plane. Why the position is so important? Let see Lion Air latest incident of safety record:

1. On 1 Nov 2012, a Lion Boeing 737-400 from Jakarta bearing flight no 716, skidded the runway during landing in Bandara Supadio, Pontinak. The incident occurred may due to poor weather.

2. On 23 Dec 2012, a Lion plane from Jakarta bearing no GT 260, burst it’s tyre during the landing of Bandara Hj Raja Fisabilah, Riau Island province.

3. On 30 Dec 2012, a lion 737-400/ JT 71 8 from Jakarta, skidded again the runway during landing in Bandara Supadio, Pontinak.

Another more reliable rumour, the launch date of Malindo will be defer from March2013 to a later date. This rumour more reliable. Interview with Malindo CEO early Jan 13 reveal that it has not official submit AOC application to Msia Authority by then. In addition, there are yet any advertisement on Malindo seat sales as at today, 2 months from launch date.

Do you think the above 2 rumour are reliable?

MrBB vs Millionaire... The Score is 1:1.

MrBB come back to redeem his gift of Abalone from Millionaire. But, Millionaire is prepare to offer Roti Canai only. He keep abalone for himself, not sharing! As such, battle of word began ......

Most likely the div for FY 2012 is higher than last year of 5sen. This is due to better AA 's cashflow and Tune Air (shareholder) has used up a lot money to buy AA share at price ranging from RM2.80 to RM3.10. The issues is there is uncertainty on the amount of div and timing of the payment.

JB property developers has minimum impact from GE13. They are looking for Singapore Dollars money as catalyst. For the past 5 years, JB is driven by local (khazanah) and foreign investments. For next 5 years, it will be driven by Sporean investments.

Continue looking forward more postive flow of investment news to drive JB property.... .

Market in red. Something is not right, MrBB is still missing. Is he still hibernating? Is he find a permanent job elsewhere? A lot of bargaining hunters are still waiting him to do posting to beat the price down to RM2.60.

Axis Reit is Best Reit in the sense that they are able to grow asset via Acqusition & organic. For retails reit, most of them can persue grow via organic. Acqusition become difficult as mall price has gone up a lot.

The Edge Weekly (21/1/13) reported AA may pay special div, as high as 18 Sen (50% FY2012 profit)arising from Free cashflow more than RM300 mil on JV IPO.

The above new imply AA will be paid more div in future as its Thai & Indo JV will buy their planes instead of rely on AA Msia. 18 sen div reported look too speculative at this stage.

Strong price run up from 31/12/12 RM4.71, may due for minor correction. Price may sustainable for a while on expectation on robust January vehicle sales figure, ahead of Feb CNY.

Morning session close RM1.69. Price today are sustainable by KSL potential privatisation rumour, which may be purely speculative, according to RHB Research. Stock undervalue.