Global markets uptrend may persist for 2 weeks!

Dow Jones 17,083.95 +28.08 0.16%
Nasdaq 4,524.01 +15.32 0.34%

Abric Bhd has proposed to sell its entire core business of producing electronic security seals to UK-based ESNT International Ltd for RM146 million cash, on a cash-free debt-free basis, effectively turning Abric into a cash-rich shell company.

Once the divestment has been approved and completed, which is planned to take place in the fourth quarter of this year, Abric plans to distribute a special dividend of 30 sen per share, which is about 41% of its stock price of 73.5 sen at today’s close.

“The board (of Abric) believes that the proposed disposal provides an opportunity for Abric to unlock the value of its investments in the disposal companies, at a reasonable price… Abric is expected to record a gain on disposal of approximately RM63.9 million,” the company said in a filing with Bursa Malaysia.

PARIS/LONDON (Sept 24): Stocks and safe-haven government bonds in Europe edged higher on Wednesday, with the prospect of more monetary stimulus from the European Central Bank offsetting a drop in German business sentiment.

A recovery in Russian and Chinese shares also helped emerging markets halt a near-unbroken three-week run of falls.

PARIS/LONDON (Sept 24): Stocks and safe-haven government bonds in Europe edged higher on Wednesday, with the prospect of more monetary stimulus from the European Central Bank offsetting a drop in German business sentiment.

A recovery in Russian and Chinese shares also helped emerging markets halt a near-unbroken three-week run of falls.

KUALA LUMPUR: A FTSE 250 company Essentra plc, which makes plastics products, is buying 100% of Abric Bhd’s main operating subsidiaries for RM146mil.

NEW YORK (Sept 24): U.S. stock index futures were trading modestly higher on Wednesday, putting the S&P 500 on track to snap a three-session losing skid, ahead of data on the housing market.

Old news but in media today.

Announcement coming for d sudden surge!

KUALA LUMPUR: The Malaysian capital market is strong enough to weather the volatility as it has shown its resilience against the external hiccups, Securities Commission chairman Datuk Ranjit Ajit Singh said.

KUALA LUMPUR (Sept 24): Malaysian palm oil futures rose on Wednesday, fuelled by optimism that robust export demand amid easing palm production in September would help curb a rise in stockpiles in the world's second-largest grower.

Sona optimistic of SC nod for RM895mil Thai deal

KUALA LUMPUR: Sona Petroleum Bhd is confident of getting the Securities Commission’s (SC) approval for its first qualifying acquisition to put it on track to complete the deal by the end of the year.

Zeti: Malaysia’s GDP growth to exceed 5.5pc in 2014
By RUPA DAMODARAN - Wednesday, September 24, 2014 - 15:32
KUALA LUMPUR: The robust growth pace of 6.3 per cent in the first half of the year will enable the Malaysian economy to exceed 5.5 per cent in 2014, said Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz.

Petronas begins topside module lifting for PFLNG1
Wednesday, September 24, 2014 - 18:13
KUALA LUMPUR: Petronas today announced it has commenced the lifting of the first topside module for its floating liquefied natural gas (PFLNG1) facility at the Quayside of Daewoo Shipbuilding and Marine Engineering (DSME) shipyard in Okpo, South Korea.

.......once some positive sign on Crude oil price up as said earlier by d economist Bull run on Klci by november so Tungggggggu is d answer.

Wooing US investors
By FRANCIS - Wednesday, 24 September 2014.
HIGH-POWERED MEETINGS: Najib targets global fund managers with US$9tril o WORLD MARKETS f assets under their care

Zeti: Malaysia’s GDP growth to exceed 5.5pc in 2014
By RUPA DAMODARAN - Wednesday, September 24, 2014 - 15:32
KUALA LUMPUR: The robust growth pace of 6.3 per cent in the first half of the year will enable the Malaysian economy to exceed 5.5 per cent in 2014, said Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz.

Bank Negara, SC collaborate to set up FSPB
By RUPA DAMODARAN - Wednesday, September 24, 2014 - 14:46
KUALA LUMPUR: Financial services industry regulators Bank Negara Malaysia and the Securities Commission Malaysia announced the setting up of the Financial Services Professional Board (FSPB) to raise the bar of professional and ethical standards.

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HONG KONG (Sept 24): Hong Kong shares ended higher for the first time this week on Wednesday lifted by a stronger China market, with investor sentiment recovering after better-than-expected Chinese manufacturing activity.
24/09/2014 16:52

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HONG KONG (Sept 24): Shanghai shares finished at their highest in more than 1-1/2 years on Wednesday, helped by brokerage firms which rose amid optimism over policy reforms.

The Shanghai Composite Index climbed 1.5 percent to 2,343.6 points, its best close since March 6, 2013. The CSI300 of the leading Shanghai and Shenzhen A-share listings rose 1.8 percent to a two-week closing high.
24/09/2014 16:53

looiks Focuz, he is busy to identify who is lying now! So he can call that guy a LIAR......he...he...keep looking my friend, that guy is near you!
24/09/2014 16:54
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Banking and energy stocks staged a comeback as investors regained some confidence after a preliminary private survey on China's manufacturing sector for September came in better than expected on Tuesday.
24/09/2014 16:54

Wooing US investors
By FRANCIS - Wednesday, 24 September 2014.
HIGH-POWERED MEETINGS: Najib targets global fund managers with US$9tril o WORLD MARKETS f assets under their care

I told u all earlier this d currency game of US n China. U notice suddenly China recovered next US striking Syria Crude oil price may go up Malaysia have strengthened economy by d formation of FSPB n we r not vulnerable to any climatical factor so with this foreign funds will be coming so bull run is imminent.

Earlier, in his speech, Ranjit said a strong culture of professionalism and ethics in the financial industry was central to FSPB's long-term sustainability.

He said the formation of FSPB was timely given Malaysia's involvement in Asean and emerging market initiatives. "FSPB will contribute in building a stronger future of the financial services industry," he said. - Bernama

KUALA LUMPUR: The Malaysian capital market is strong enough to weather the volatility as it has shown its resilience against the external hiccups, Securities Commission chairman Datuk Ranjit Ajit Singh said.

Banking and energy stocks staged a comeback as investors regained some confidence after a preliminary private survey on China's manufacturing sector for September came in better than expected on Tuesday.

HONG KONG (Sept 24): Shanghai shares finished at their highest in more than 1-1/2 years on Wednesday, helped by brokerage firms which rose amid optimism over policy reforms.

The Shanghai Composite Index climbed 1.5 percent to 2,343.6 points, its best close since March 6, 2013. The CSI300 of the leading Shanghai and Shenzhen A-share listings rose 1.8 percent to a two-week closing high.

HONG KONG (Sept 24): Hong Kong shares ended higher for the first time this week on Wednesday lifted by a stronger China market, with investor sentiment recovering after better-than-expected Chinese manufacturing activity.

(Sept 24): Indonesian shares recovered on Wednesday from their near one-week low hit earlier in the day after the country's finance minister said this year's budget would be revised to address adverse impact from a reduction in fuel subsidies.

Other Southeast Asian stocks traded mostly higher, a day after better-than-expected Chinese manufacturing data helped boost commodity prices.

The Jakarta Composite Index was up 0.2 percent by 0703 GMT after hitting its lowest level since Sept. 17 earlier in the day.

KUALA LUMPUR: Sona Petroleum Bhd, which claims to have submitted the full proposal on its qualifying acquisition to the Securities Commission Malaysia (SC) last month, is “confident” of securing the regulator’s approval, said managing director Datuk Seri Hadian Hashim.

“We submitted [the proposal] on Aug 29, 2014, and we are now engaging the SC through our advisers. As usual, we need to explain [the proposal] and we are going through the process,” he said.

Reach Energy Sees 15.33m Shares Done Off-market.......from Star Mobile....@deemagpie

http://www.nst.com.my/node/36427

No link just for information that O&G stocks r active during this period of cinfusion?

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1745933

KUALA LUMPUR: Reach Energy Bhd saw 15.33 million shares traded at an average price of 52.5 sen in an off-market deal on Tuesday.

Stock market data showed the block of shares of the special purpose acquisition company (SPAC) was traded at a 19.2% discount to the market price of 65 sen.

The 15.33 million shares represented a 1.19% stake based on its paid-up of 1.199 billion shares.

"We've gone so far to take up what we consider as a good asset and we have met the criteria. Sona Petroleum's long-term outlook for global oil prices will continue to be lucrative, probably at US$95 to US$100 per barrel," he told reporters after MIDF Luncheon Talk on Valuing Upstream Oil and Gas Assets here today.

On July 21, 2014, Sona Petroleum Bhd's unit, Sona Exploration and Production (Thailand) Ltd (SEPT), has proposed to acquire a 40 per cent equity interest in Salamander Energy (Bualuang) Ltd (SEBL) from Salamander Energy (Bualuang Holdings) Ltd (SEBHL) for RM895.2 million.

KUALA LUMPUR: Sona Petroleum Bhd, which aims to complete the acquisition of a stake in Salamander Energy plc's unit by year-end, is still awaiting the Securities Commission's (SC) approval, said managing director, Datuk Seri Hadian Hashim.

The special-purpose acquisition company was also confident that it was a good deal and was currently going through all necessary process by engaging with SC via their advisers, he said.

He said the company's submitted its proposal on August 29, 2014.

"We've gone so far to take up what we consider as a good asset and we have met the criteria. Sona Petroleum's long-term outlook for global oil prices will continue to be lucrative, probably at US$95 to US$100 per barrel," he told reporters after MIDF Luncheon Talk on Valuing Upstream Oil and Gas Assets here today.

On July 21, 2014, Sona Petroleum Bhd's unit, Sona Exploration and Production (Thailand) Ltd (SEPT), has proposed to acquire a 40 per cent equity interest in Salamander Energy (Bualuang) Ltd (SEBL) from Salamander Energy (Bualuang Holdings) Ltd (SEBHL) for RM895.2 million.

In a filing to Bursa Malaysia, it said the deal gave SEPT a 40 per cent effective participating interest in the B8/38 and G4/50 oilfield concessions in the Gulf of Thailand.

"We can only give the numbers when the deal is completed. Hopefully, when both the SC and shareholders have approved it," Hadian replied to a question on the future earnings potential from the deal during the talk.

On whether there would be dividend payments if the company successfully acquire the stake, Hadian said: "Well, we have the loan to be paid. When the numbers are getting better dividend will be justified."-- Bernama

http://klse.i3investor.com/servlets/anpth/1019589.jsp

So long BE is bought without bank loan is a good deal but this deal is for long term becoz after oil is gas where company see plenty of cash.Once d RI done Suma becomes stable n price have to move up.If O&G is not a viable business d world economy will collapse.

HONG KONG (Sept 23): China shares on Tuesday clawed back some of the previous day's losses after a preliminary survey showed China's manufacturing sector unexpectedly picked up in September, while the Hong Kong market hovered near two-month lows.

The HSBC/Markit Flash China Purchasing Managers' Index (PMI) rose to 50.5 in September from August's final reading of 50.2, beating a Reuters poll forecast of 50.0.

The Hang Seng Index, which has fallen 10 out of the 12 past sessions, was flat by midday at 23,960.43 points. The China Enterprises Index of the top Chinese listings in Hong Kong was up 0.3 percent.

The CSI300 of the leading Shanghai and Shenzhen A-share listings and the Shanghai Composite Index both added 0.7 percent. The Shanghai benchmark stood at 2,304.89 points. Both closed at their lowest in two months on Monday.

"The flash PMI was better than expected, which helped dispel some over-pessimism about the economy," said Xiao Shijun, an analyst at Guodu Securities in Beijing.

Chinese property developers were the standout performers early Tuesday, after a report by the official Shanghai Securities News said one of China's top four state banks plans to ease rules on mortgage lending as the government seeks to bolster the flagging real estate market.

HONG KONG (Sept 23): China shares on Tuesday clawed back some of the previous day's losses after a preliminary survey showed China's manufacturing sector unexpectedly picked up in September, while the Hong Kong market hovered near two-month lows.

The HSBC/Markit Flash China Purchasing Managers' Index (PMI) rose to 50.5 in September from August's final reading of 50.2, beating a Reuters poll forecast of 50.0.

The Hang Seng Index, which has fallen 10 out of the 12 past sessions, was flat by midday at 23,960.43 points. The China Enterprises Index of the top Chinese listings in Hong Kong was up 0.3 percent.

The CSI300 of the leading Shanghai and Shenzhen A-share listings and the Shanghai Composite Index both added 0.7 percent. The Shanghai benchmark stood at 2,304.89 points. Both closed at their lowest in two months on Monday.

"The flash PMI was better than expected, which helped dispel some over-pessimism about the economy," said Xiao Shijun, an analyst at Guodu Securities in Beijing.

Chinese property developers were the standout performers early Tuesday, after a report by the official Shanghai Securities News said one of China's top four state banks plans to ease rules on mortgage lending as the government seeks to bolster the flagging real estate market.

As i said China data suddenly ok n US waited for this opportunity (timing) to strike Syria n hence US knows production going to be reduced n oil price going up (currency game). Currency traders n investment fund from US/Europe will be coming n by end of Nov they will take their money out becoz europeans hv to enjoy d Dec school holidays n Christmas.I belief Bull run is imminent n lets see HS game.

Chua said prices will also be lifted after the Pentagon late Monday announced that the United States and its "partners" have launched bombing raids for the first time against Islamic State extremists in Syria.

Washington began air strikes against IS targets in Iraq on August 8.

The Islamic State (IS) group has overrun large swathes of Iraq and Syria and declared a "caliphate" in those areas.

The sweeping offensive began on June 9, preventing Baghdad from exporting oil via a pipeline to Turkey and by road to Jordan.

In Syria, a three-year civil war between the government and insurgents including IS has seen production diminish from 400,000 barrels a day in 2010 to around 25,000 barrels a day in January, according to the US Energy Information Administration.-- AFP

Oil prices up after upbeat Chinese data
23 SEPTEMBER 2014 @ 1:16 PM

SINGAPORE: Oil prices rose in Asia Tuesday in response to better-than-expected Chinese manufacturing data and after the United States said it had led bombing raids against jihadists in crude producer Syria, analysts said.

US benchmark West Texas Intermediate for November delivery rose 31 cents to US$91.18 while Brent crude for November also gained 33 cents to US$97.30 in mid-morning trade.

Banking giant HSBC said early Tuesday its flash purchasing managers index (PMI) for the Chinese manufacturing sector came in at 50.5 in September, from a final reading of 50.2 in August. A reading above 50 indicates growth and anything below points to contraction.

Analysts had expected the figure to dip to 50.0. The index tracks manufacturing activity in China's factories and workshops and is a closely watched indicator of the health of the economy.

"What we are seeing with the Chinese PMI numbers is a strong rebound when analysts had actually priced in a possible contraction," Desmond Chua, market analyst at CMC Markets in Singapore, told AFP.

Those who sold Suma n bot Iris must be crying!

What goes down must go up.

Not only Sumatec Resources there r so many other countries n companies involved in O&G n is costly to extract oil n gas so obviously OPEC have to cut production to stabilise price.The way i look at d situation, both US n China r trying to push prices down b4 their funds surge into our country.In Malaysia our Govt have strengthened our Klci with bank mergers etc u can see during this time our market is holding strong. Palm oil stocks play a quite a major role in market capitalisation n if palm oil price drops...d only solution is to increase d yield similar to UP n i am wondering why our Govt seem to be silent on this one of d major issues.
23/09/2014 12:28

Not only Suma there r so many other countries n companies involved in O&G n is costly to extract oil n gas so obviously OPEC have to cut production to stabilise price.The way i look at d situation both US n China r trying to push prices down b4 their funds surge into our country.In Malaysia our Govt have strengthened our Klci with bank mergers etc u can see during this time our market is holding strong. Palm oil stocks play a quite a major role in market capitalisation n if palm oil price drops...d only solution is to increase d yield similar to UP n i am wondering why our Govt seem to be silent on this one of d major issues.
23/09/2014 12:28

Not only Suma there r so many other countries n companies involved in O&G n is costly to extract oil n gas so obviously OPEC have to cut production to stabilise price.The way i look at d situation both US n China r trying to push prices down b4 their funds surge into our country.In Malaysia our Govt have strengthened our Klci with bank mergers etc u can see during this time our market is holding strong. Palm oil stocks play a quite a major role in market capitalisation n if palm oil price drops...d only solution is to increase d yield similar to UP n i am wondering why our Govt seem to be silent on this one of d major issues.

Asian Markets, KLCI Off Lows After Better China Data

1 hours ago
KUALA LUMPUR: Key Asian markets and Bursa Malaysia were off their early morning lows on Tuesday, as investor sentiment firmed up slightly after the better-than-expected China economic data.

.....solution Opec hv to cut production!

Europe n US ppl hv invested a lot of cash in "retirement investment fund"n depending on d returns.They reap a lot cash in Asia n in particular far east like Malaysia so that is going to be sudden surge of foreign funds into our country.The situation is quite bad now n it cannot go on like this.Soon China's economy may improve n Opec have to cut production...they hv no solution otherwise US may collapse.