Wow, the price really drop bcos of possible NIM compression next year. Sold half of my Harimau portfolio out to other asset class. Will revisit once this Trump nonsense and US economy improves.

The drop in price could be attributed to the fear that MY exports might be hit with US sanctions after US elections

Thanks Pinky for the report. looks good but I topped up before I saw your report.

'to be fearful when others are greedy and to be greedy only when others are fearful' - Warren Buffett

https://theedgemalaysia.com/node/730786

The 2% tax is nothing, Based on a return of 6.0%, nett returns after tax is 5.88% Okay what? Why panic?

My MBB is around 7.18%, if I get taxed also nett returns is 7.03%. Only thing too bad I dont have RM100K dividend from MBB so no worries

haha, Harimau do well, our infinitely expert friend @speakup disappears from this forum and currently sharing some love in newly minted IPO - 99 Speedmart. seems our learned friend has a vast knowledge and very experience - sorta like 'jack of all trades and master of none'. Also that Plantation Sifu also seemed to disappear and will only reappear when plantation crops do badly and will come round once again to plant some harvest at non related Banking stocks. seems i3 a lot of poor Sifu who willing to share their financial wisdom but do they actually make any money that's the real question.

Tradingview TP @11.18
BUY (11), HOLD (7), SELL (1)
https://www.tradingview.com/chart/?symbol=MYX%3AMAYBANK

Haiyo nvm drop 2.00 also no worries for me. Nvm drop 3.00 also I give you, since my cost so low. I just move my funds ro pick up and double my shareholdings. To me share price not important, just eye candy as Ling as DY is 10% like what I am getting, no problem for me. I got other stocks to cover drop in gain. No worries. BAU

KUALA LUMPUR (Aug 28): Malayan Banking Bhd (KL:MAYBANK), Malaysia’s biggest bank by assets, said on Wednesday its net profit rose 8.2% year-on-year in the second quarter thanks to lower provisions and tax expenses.

Net profit for the three months ended June 30, 2024 (2QFY2024) was RM2.53 billion compared to RM2.34 billion over the same period a year earlier, Maybank said in an exchange filing. Net interest income slipped 0.6% year-on-year to RM3.19 billion.

Allowances for impairment losses on loans, advances, financing and other debts fell to RM381.28 million from RM561.68 million booked in 2QFY2023.

Maybank also reiterated its target to achieve return-on-equity of 11% for FY2024.

It also declared an interim cash dividend of 29 sen per share, amounting to a total distribution of RM3.5 billion, and to be paid at a date to be determined later.

Nice closing at 10.70, finally to the moon. Now ex date cannot get cheap d. All those want to collect dead chicken also no chance. Will we finally see it breaking 11.00?

Yes, I am also cautiously optimistic that 30 sen would be the dividend too. According to records the last time they announced on 1 sept 2023 and the year before that 5 sept 2022 and in 2021 it was 8 sept 2021. it could be any day of the week. hard to gauge.

@stkoay bro do you know when is Harimau announcing the QR and dividend rate? I believe Friday evenings after market close as usual?

By right when Rate cuts, Equity market should go up. In this case Fed Reserve cut rates, US markets should go up. BUT.. unemployment rate higher than expected (to be exact higher by 818K in Q1, 2024 revised figures). So hot money has no choice but to flow elsewhere. In this case back to Treasury Bonds OR... other markets for opportunity. In Asia, Malaysia seems like a no brainer for cherry pickings at the moment. So, foreign funds will compete with local GL funds for stocks if and when they do decide to come to this part of Asia. They will be volatility ahead as GL funds (like ASN, KWSP) will try and make a quick buck from these inflow of hot money by selling to them and buying back when they leave - profits of course translating to higher dividend for fund members. For retail billis, it's best not to time the market and day trade as they may be caught high and dry. Long play is the current theme. The Fed Reserve rate cuts are but a temporary reprieve from looming recession. When the inflation rate reaches too high for them, they might most probably increase the rates again (thereby increasing debts by even more) or print money increasing inflation rates even more. In my opinion, whatever the outcome, it's KLCI investors are the winners regardless whether Retail investors or Fund traders. US's 'forever war' strategy to shore up their economy will sooner or later fail as they now try to shift to Asia targeting China using NATO proxy by their plans to set up NATO office in Japan in the near future. For those Bilis here still playing the US markets and indirectly depending on the SWIFT payment system, once Malaysia officially joins BRICS and Malaysia being sanctioned more in future, your US investments are a very high risks. So do your own research and be wise by reading more on geopolitics as it will affect investors in Malaysia. Peace

From Simply Wallstreet 2024 Aug 23:

Full year 2024 earnings released: EPS: RM0.43 (vs RM0.25 in FY 2023)
Full year 2024 results:

EPS: RM0.43 (up from RM0.25 in FY 2023).
Revenue: RM22.3b (up 2.0% from FY 2023).
Net income: RM3.46b (up 71% from FY 2023).
Profit margin: 16% (up from 9.3% in FY 2023). The increase in margin was primarily driven by lower expenses.

Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Integrated Utilities industry in Asia.

Over the last 3 years on average, earnings per share has increased by 79% per year whereas the company’s share price has increased by 82% per year.

@stkoay as mentioned before.. just ignore them.. let them sing until blue. We will just sit back and enjoy our pinacoladas. We get it is what's more important. Trolls are everywhere in cyber world.. keyboard warriors if you will

@Fundamental Trader Paranoia? I was replying to @willsmith until you joined in. Anyway thanks for inviting but not interested bro.

For YTLREIT, I just checked and it's confirmed that for this Q4, they distributed at least 90% which in this case it's 90.38% i.e.69,676/77,092.

SOURCE: https://disclosure.bursamalaysia.com/FileAccess/viewHtml?e=3470192

@Fundamental Trafer, thanks for the link. This provides clarity and confirms what I read from LHDN. So based on your links, I can conclude that mayhaps YTLREIT may be subjected to personal tax of 15% if they did not distribute at least 90pc of distributable income.

@diggerDC Sorry for late reply as didnt check forum lately. I am not sure why yours show income tax portion. Are you self trading directly with stock broker or via proxies like Rakuten, etc? If you are trading thru proxies perhaps they have some policies like with holding tax and all. As far as the info from LHDN is concern, it's pretty clear. As this will be my first YTLREIT dividend, I have yet to receive to comment further. For IGBREIT, the taxable portion is from offices and hence taxed nominal sum at company. For the hotel portion it's not taxed and I believe this needs to be reported to LHDN. For YTLREIT by right since not taxed earlier, you need to declare in your filings if the above conditions are not met for exemption. Normal company stocks taxed earlier need not be declared due to single layer taxation. For REIT it may be under a special category especially for hospitality which YTLREIT all assets fall under it unlike IGBREIT with dual Office and Hospitality and also distributes at least 90% of net income

I believe that the recent positive GDP reading showed that the economy is at a better than expected level. With production increase in the countrt means more consumption of its product - an indication of a healthy consumption by the population together with recent lower unemployment, all roads points to a stable economy. Banks will benefit as they benefit from sustain funds at stable rates. With local funds like EPF shifting to 'Buy Malaysia ' it's a win for all of us local retail investors as well.

Note to self: luckily didn't listen to pundits who ask us to buy Plantation or Tech stocks oh

I hardly believe it will reach 20 anytime soon. I remember reading somewhere TP was ard 11.5

Wow, Majority of Bank stocks jumped up today. Harimau up at 3.3%, Sotong up 4.1% while PBB up 5.8% and RHB up 3.1%. Main street expecting very positive QR reporting by Banks this month?

wow what happened?? harimau up 34 sens to 10.60. any idea?

Local stocks pummeled after US tech rout

THE STAR
Thursday, 25 Jul 20249:12 AM MYT

KUALA LUMPUR: The overnight plunge in US equities spilled over to Bursa Malaysia, which had already been shaky in recent days due to heightened investor caution.

At the start of trading, the FBM KLCI gapped down 4.06 points to 1,617.08, tracking the sharp sell-off in US markets after investors pulled out of the Magnificent 7, Wall Street's leading tech counters, following disappointing earnings from Tesla and Alphabet.


Following the fall below the 1,630 psychological level yesterday, the local key index in now looking to defend the 1,600 support, said Apex Securities Research in a note.

"Amidst the heightened volatility, we remain defensive, favouring the REIT and Utilities sector," it said.

As expected, the local tech sector was doused by the negative sentiment stemming from US markets, falling nearly 2% in early trade.

The Bursa Malaysia Technology Index dropped below the 50-day simple moving average as it returned to a six-week low with three-quarters of its component counters in the red.

Leading decliners included Unisem down nine sen to MR4, Vitrox falling six sen to RM4.09, Vstecs shedding 12 sen to MR3.96 and Frontken falling 11 sen to RM4.23.

AVOID CPO stocks, buy Bank shares

https://theedgemalaysia.com/node/722449

RHB IB urges plantation sector to diversify amid volatile CPO prices

KUALA LUMPUR (Aug 12): RHB Investment Bank Bhd (RHB IB) recommends plantation industry players to diversify into other sectors to strengthen their businesses, rather than relying solely on consistently high crude palm oil (CPO) prices to sustain earnings.

In a note on Monday, RHB IB highlighted that some plantation companies have already ventured into industries such as property development, fruit farming, glove manufacturing and dairy farming.

"Recently, we've observed more environmentally sustainable diversification, including the production of wood, fertiliser and other products using palm oil waste," RHB IB stated.

However, the investment bank noted that aside from ventures leveraging their landbanks — such as land sales and property development — none of these efforts have significantly contributed to earnings.

It pointed out that with the monetisation of landbanks through initiatives like data centres or renewable energy projects, such as solar farms, diversification may become more impactful in future.

RHB IB estimated profitability per hectare per year from solar energy could be 26 times higher than from oil palm cultivation.

The bank said with challenges such as lower yields, ageing trees, environmental pressures, rising costs, labour shortages and reduced profitability, the plantation sector must explore alternative strategies.

"CPO prices have surged to levels not seen in the last decade, but there remains a risk that external factors could drive prices below breakeven levels.

"We expect long-term CPO prices to be at the upper end of RM3,000 to RM3,500 per tonne, but prices are likely to remain volatile," it said.

Given that price fluctuations are beyond the control of planters, RHB IB emphasised the importance of focusing on revenue growth, cost management and diversification.

Additionally, it noted that planters should enhance mechanisation to improve efficiency and reduce reliance on labour, increase investment in research and development to produce better-yielding seedlings with lower maintenance costs, and prioritise environmental, social, and governance (ESG) practices to secure ESG premiums.

RHB IB also observed that the sector is progressing in ESG terms, with the average score improving to 2.6 this year, up from 2.5 previously.

The bank maintained its "neutral" rating on the plantation sector.

@AnthonyAng666 Agreed. The reason why this stock didnt fly yet is because this deal needs approval from 3 parties. 1 has already approved - Egypt. Turkey and MAC is the others. The risk of the whole deal being aborted is also there as well. Other than that, potential for upside is good.

SOURCE: www.klsescreener.com/v2/news/view/1341565/mahb-privatisation-deal-crosses-first-hurdle.

@diggerDC Non exempt means taxable. If you compared with IGBREIT, the later has both portions - one taxable and another portion not taxable. In the case of YTL REIT it is stated all taxable. I have both in my portfolio. I repost the term 'non exempt' in reply to user @willsmith above

SOURCE 1: www.klsescreener.com/v2/stocks/announcement/5109/2483537

SOURCE 2: www.klsescreener.com/v2/stocks/announcement/5227/2483465

@speakup I have YTLREIT in my portfolio as well. BTW, dont you have any other useful and meaningful things to say in all of your posts other than your usual one liner nonsense? In every post in every forum you tend to post non related stuff. Grow up buddy.

Haha, Bilis no need Tongkat Ali or Kacip Fatimah, just buy ubat Harimau, pasti hebat

Based on Page 3 of the QR report, https://www.klsescreener.com/v2/stocks/financial-report/5109/2024-06-30 (PDF copy), 90.3% of distributed income is distributed amounting to RM0.0488

So I believe that since its NON EXEMPT, personal tax must declare this amount received together with personal OTHER income as well to arrive at final amount whether it will be taxable or not.

FUN FACT: For those interested. If you're wondering whether you should pay personal income tax for REIT stocks and by how much, this should be and interesting read.

Usually all dividends are declared AFTER corporate tax. In such case no need declare in income tax as Malaysia only practices SINGLE taxation and not DOUBLE taxation. Also Malaysia does not have CAPITAL GAINS TAX on non-property asset sales (only applicable on PROPERTY ie RPGT). This applies if company distributes at least 90% of income to shareholders. However, an exemption to the rule if Income less than 90% is distributed to shareholders.

SOURCE1: ://thesun.my/business-news/how-are-individual-reit-holders-taxed-DL8085410

If a (Real Estate Investment Trusts) fund distributed at least 90 percent of their total yearly income to unit holders, the REIT itself is exempted from tax for that year of assessment.

However, unit holders are liable to tax on the distribution of income. Since the income distributed by REITs are tax exempt, no tax credit under subsection 110(9A) of the Income Tax Act (ITA) 1967 would be available to the unit holders.

On the other hand, tax exempt income received by REITs and subsequently distributed to unit holders continue to be tax exempt in the hands of these unit holders.

REITs unit holders are taxed in the year of assessment the distribution is received not the financial year of the REITs.

Starting for the year 2009, tax for REIT dividend has been amended. If a unit holder has income from sources other than REITs, an Income Tax Return Form (ITRF) has to be filed (e.g. Form BE, B or M for individuals or Form C for companies), income from REITs is not required to be included in the ITRF form as the Withholding Tax is a final tax.

SOURCE2: www.hasilnet.org.my/tax-on-reit-investment/

FUN FACT: For those interested. If you're wondering whether you should pay personal income tax for REIT stocks and by how much, this should be and interesting read.

Usually all dividends are declared AFTER corporate tax. In such case no need declare in income tax as Malaysia only practices SINGLE taxation and not DOUBLE taxation. Also Malaysia does not have CAPITAL GAINS TAX on non-property asset sales (only applicable on PROPERTY ie RPGT). This applies if company distributes at least 90% of income to shareholders. However, an exemption to the rule if Income less than 90% is distributed to shareholders.

SOURCE1: ://thesun.my/business-news/how-are-individual-reit-holders-taxed-DL8085410

If a (Real Estate Investment Trusts) fund distributed at least 90 percent of their total yearly income to unit holders, the REIT itself is exempted from tax for that year of assessment.

However, unit holders are liable to tax on the distribution of income. Since the income distributed by REITs are tax exempt, no tax credit under subsection 110(9A) of the Income Tax Act (ITA) 1967 would be available to the unit holders.

On the other hand, tax exempt income received by REITs and subsequently distributed to unit holders continue to be tax exempt in the hands of these unit holders.

REITs unit holders are taxed in the year of assessment the distribution is received not the financial year of the REITs.

Starting for the year 2009, tax for REIT dividend has been amended. If a unit holder has income from sources other than REITs, an Income Tax Return Form (ITRF) has to be filed (e.g. Form BE, B or M for individuals or Form C for companies), income from REITs is not required to be included in the ITRF form as the Withholding Tax is a final tax.

SOURCE2: www.hasilnet.org.my/tax-on-reit-investment/

Seriously, some of the users here are so immature. Imagine users from other countries reading all your comments. Really no eye see. If some comments are not so pathethically funny, you would cringe at the state of youths in this country. Really sad as these young users will lead the country one day. I just hope that whatever and whenever you do not agree with someone's view, deliberate articulately and factually. Because in the real world, the society at large will be less tolerant.

On a side note, @raymondroy, I agree with you that those who focus on the 'loss' due to drop in price will surely miss the opportunity elsewhere. I managed to pick up (albeit small) a opportunity dividend stock to shore up my monthly cashflow. As advice to all users here. Negative comments wont affect the market. Better use your energy and time to make money as 'time and tide waits for no man'.

This is just my sincere views. Peace.

Well I am calling US bluff on this. With Russia sending their jets to Iran and more missles, I doubt the War Machine will do jack. unless they want to nuke each other. they had plenty of opportunity to attack Iran last time and they didnt. With Proxy Wars in Ukraine and now middle east, do we really think Uncle Sam wants to be stretched out at the same time? Dont forget that closer to home, in the south East Asia region, trade war with China and also Philipines as the issue of contention. Also did you know that recently Russian and Chinese Super bombers flew just outside of the Alaska border? what message do you think these 2 superpowers are sending to Uncle Sam? Nah nothing will happen. The War Machine is just a big bully with own domestic economic issues.

look at the traded volume when price dropped early this morning versus the price increase now. notice the huge difference in volume? the drop is 'fake bear' and the huge jump by volume. I like to call this the 'catch and release' by sharks to lure in unsuspecting bilis. question is are any of you anchovies? I bet most season harimau investors wont be fooled. not when H2 reporting is around the corner. DONT BE FOOLED. Geopolitical issues and other factors are beyond our control. As long as you believe Harimau is well supported by good management and sound fundamentals. no worries. Not saying that the bloodbath will not continue. am saying do not have knee jerk reactions and be that kind of investors ie. emotional investors.

look at the shares traded by EPF yesterday 5 Aug 2024. the huge drop is bcos EPF is trading to make profit for its dividend reporting. I am happy EPF makes money as I look forward to EPF reporting each and every year.

aiyoh why all kecoh? drop so much also I slept peacefully. I see opportunity. why? cause when i reload my warchest I'll be back. luckily my AP is way way lower. so yesterday i went hunting for other bargain stocks. who says you need to only focus on 1 stock?

'In times of threat, there is opportunity'.

I foresee that once the smoke settles and investors realise a lot of opportunities on the table and that the Fed Reserve goes up by 25 points possibly twice this tear in Sept n November, the funds will be back to pick up cheap stocks fast and furious. Unless of course YTL owners come in and buy buy buy like previously and take back as treasury stocks for ESOS, etc. just my opinion of course. But what do you all think?

I dont think Russia is the problem so much. It's China. Also Uncle Sam not happy MY defying US. The War Machine has a motto, 'if your not with us, then you're against us'. oh well... lets see how this plays out. Sit back, relax and keep an eye out for opportunity.

my advise? dont buy yet, instead if u have spare cash buy other opportunity stocks like me. that way, when market recovers you have 2 good stocks in your portfolio, failing which, the profit from one will soften the losses from the other. just my 2 sens

my only concern right now is, since US may want to sanction malaysia in the tech sector, they may stop NVidia from doing business hence opening AI center in Malaysia. that is my only worry. that could be why a lot of ppl is heavily dumping YTLP. This is the strongest reason which i could think of.

Rrelax bro, what goes up will come down and what goes down will come up. It will eventually settle down in equilibrium.

For those who are unsure if US in technical recession, please read up on the 'Sahm rule'

https://economictimes.indiatimes.com/news/international/us/what-is-sahm-rule-a-recession-indicator-that-has-been-triggered-in-the-u-s-how-does-it-affect-you/articleshow/112259682.cms?from=mdr

Several reasons why the market across the globe is dropping. potential war in Middle East now with Iran fighting Isreal. US employment numbers dropping (for 2nd Qtr in a row), US in technical recession, US with 35 Trillion debt to date. US market is careful as they are now monitoring possibly US rate hikes in September (too little too late - possibly), investors showing the US govt they are not happy as costs of doing business is high. remember that we might be seeing 'hot money' flowing out. if in September rates are cut, the hot money will flow back in. every one is now eyeing what Iran will do. To me, I just parked 200 lots into YTL Reit as that is another potential income stream for me. To me, this is C19 all over again, the whole world and investors run, those who dig in and took opportunity to buy will be rewarded. Thats how I manage to buy YTLP at 2nd lowest dip since it was listed. 'In times of Danger, there is also threat as well as opportunity'. No shame if you want to run, even Warren Buffet sold half of his holdings in Apple. Then again his country is facing recession.

thats so silly. its only paper drop for some. if only affect YTLP then maybe yeah, but no, it's affecting across the board, nay across the globe. unless you keep your money under your mattress than maybe wont drop so much. US recession wont affect MY much as Ringgit works inverse to the USD. SGD on the other hand works same direction as USD, thats why RM strenghthen lately against USD and also SGD. Yes US will enter recession but with MY joining brics and the Petro Dollar no longer relevant, why are all the chicken little panicking?

No sweat. payday coming. Thats all it matters to me and the rest of Harimau supporters. CIMB supporters can go CIMB, RHB can go RHB, PBB can go PBB. As long as everyone happy, it is what matters. Really looking forward to Harimau price going back all the way up to where it belongs.

Dude. No one ask for your opinion. Its obvious you are an emotional investor. Knee jerk reaction to every price fluctuation. Btw why are u still here after selling all? #askingforafriend

Yeah, all these fund managers all do horse trading among one another. realising gains and supporting the price. Also to stop retailers from snapping up too many shares.

@newbiedoobie

You need to understand first what sort of investor are you? Are you in it for the short term or are you into long play? Secondly you need to look at MBB past 10-year trend and see which is the highest price it ever achieve (RM11.08 in 7 May 2018) and research why during that period it was high. Will the reason causing it to increase to that high can ever repeat itself? Next look at the DY % - for me, as long as it is higher that and savings fund returns you can get, then it is a no brainer. You age will certainly be a consideration in this. If you are about to retire and want to build a sustainable, consistent return for your monthly expenses, then consider whether Harimau meet your needs, assuming an average annual dividend rate of RM0.60 sens per share, ceterus paribus, that would be your answer. Hope this gives you an idea on how to consider when to go in.

I believe the Saudi's decision to not renew the 50 year Petro Dollar agreement and Malaysia's intention to join BRICS nation and hence less affected by the USD is a contributory effect to Malaysia prospects as well. Among other things, the unstable geopolitical scene has somewhat benefited Malaysia in the semiconductor field and the current reforms a move in the right sector. Another plus point is that the KLCI is in low 1600 points, still room to improve to at least mid 1600 mark. As long as no more huge financial scandals, unforeseen calamities and no sudden economic policies to shake up the market, I think the only way for the market is upwards.

Ah, he deleted his comment. Hope he will Insaf. Nothing good will happen to his life if he continues with his useless rant.