Singh1, EPF assigns external fund managers to manage part of its funds. In this case, beside EPF internal manager directly invested in Astro, its external managers that have invested in this stock are HwangAffin and Templeton Funds. From the latest lagged Bursa's filing, you can see that it still held about 1.5 million Astro shares as at Jan 22 following consecutive days of selling. With strong surge in Astro price today, it's highly likely that Templeton has completed selling all its Astro holdings which it managed for EPF. The 8%+ EPF holdings is an aggregate number of Astro shares held by both EPF internal and external managers.
With substantial seller out of the picture for now, hopefully it's smooth selling ahead. Barring adverse development in external markets like the Dow, yeah 1.75 may just come true. It'll fantastic if it can, at a much later date, claw back to 1.88 and the eventual 2.00. At current level (1.64), despite the recent rebound, it's still a little over half of its 3.00 IPO price only. Notwithstanding, take one step at a time, let's just hope that 1.75 is attained by the end of CNY on Chap Goh Mei.
Gong Xi Fa Cai!

Lotte is testing everyone's patience. Good company yet no price performance thus far. Guess it'll only move upon release of the quarterly end January. Sit tight...

singh1 I would expect to see it testing 1.65 followed by 1.75 once Templeton (for epf) complete with its exit or profit taking, whichshould be done by mid nextweek. Though most retailers are not with us, we certainly can take comfort knowing that big funds like EPF n HwangAffin are on our side. That's good enough for now!

Most people just resign to the notion that cable tv is a sunset biz but fail to recognize that Astro evolves with the challenges befallen n tackle them head on. Glad to see Astro price surge today after a period of consolidation in the 1.45 to 1.50 range. Even at 2 ringgit, assuming a dividend of 10 cents, that would still give a rewarding yield of 5 percent.

That is correct. If the same magnitude plunge happened in its Indonesia unit, it'll be a total disaster. Think its Indo operation should bring cheer in view of the strengthening Rupiah and a higher interest rate environment affording banks a wider NIM.

Sure.

Not just sentiments but guess it's turning the corner with 1) its venture into broadband bundle, which will not just stamp the decline in subscription revenue but may boost it instead as more NJOI non-subscription based customer may switch into the subscription based broadband bundle. 2) Recent trend reversal in the US$ strength is rather obvious. Astro would stand to benefit from the lower cost as a result as 2/3 of its content cost is US$ base. Hence, its bottom line will be lifted. 3) Its major shareholder, AK is raising capital by selling its tropical resort in Germany. And he has been doing sizeable buy-back on Astro in 4Q2018. Current depressed Astro share price presents an attractive level for AK to initiate taking Astro private. So, it just a matter of timing. 4) Institutional investors, like EPF continues to add positions on Astro as risk/ reward is clearly irresistible. Astro pays 10 cents annual dividends payable quarterly, giving a yield of more than 6% p.a. So, to the least, investor is paid more than adequately to hold the stock while waiting for all the expected stories to eventually roll out.

Help to push up the index last minute?? Please, Gamuda is NOT even an index component! Rather, it's much because due to big funds like EPF and ASB continue to add positions as Gamuda's valuation is reasonable and will be the big beneficiary should the ECRL or even the HSR is revived. Also, KL double track has called for retendering. Guess the PH government finally comes to their senses that they just can't simply constrain spending to rein in the budget deficit, instead it must also stimulate growth by investing in infrastructure projects which are meaningful and beneficial the people and economy in the long run.

vaguely MCA linked a weakness/ threat?

Really, a declining revenues is a good result?? The writing is on the wall, rather.

Mind you today's write-off on the promissory note is only for a little over US$400 mil, whereas the Fox themepark, GenM have plowed in over US$750 mil...

Please la... quarterly report is historical info. The market is looking at what is to come... 1. Significant jump in taxes in 2019. 2. The outdoor Fox theme park debacle! How these two events or uncertainties will impact GenM earnings going forward. Have we got satisfactory response or course of actions to tackle the aforesaid?

it's jinx. where is its Plan B for the themepark? is the outdoor themepark just going to be laid idle till the legal mess is solved? All these questions drew no response. Instead it just sent us a bomb on the write-off of the Indian tribe promissory note which should had been acted in the previous quarter. GenM management seems to hide lots material stuff from the public. Its share price dropped drastically these few days, we didn't see it do any buy-back. But in the last few months, or sometime in October or early Nov, it aggressively bought back GenM as high as $4.50. I wonder if those series of aggressive share buy back was to enable certain insiders to exit at the expense of the rest of shareholders, esp. the minority sharesholders like us. Related personnel at the SC should investigate this matter and take necessary action, if any.

if you go visiting in China, you would have noticed most hotels no longer using cable tv but IPTV. Guess this megatrend sooner or later would become a norm here too.

Excellent dompeilee.

victor yong, thanks for the background history and shareholders' analysis. looks like EPF with over 400 million shareholdings, we can still expect to see much price weakness as it continues to unload Astro. worst still, should other institutional holders also join in the SELL bandwagon, and quit holding Astro once and for all as the pain inflicted on them becomes unbearable. Imagine these institutional investors hold it since IPO price of $3.00... Ouch!!!

Sure the Chinese would see value in acquiring it as they can have immediate distributing banking network in Malaysia. However, the BN has been under so much pressure and criticism for bringing in the much needed Chinese capital. And they have been accused for inviting "Chinese invasion" by the Pakatan. Hence I don't think they want to attract unnecessary criticism by letting go of a Bumi controlled bank to a Chinese bank at this juncture. Perhaps, after the GE14 is over and done with.

Sheldon- not just that, it's highly unlikely the government would allow that. On the other hand, making it easier to bet thru e platform which they're pursuing now is a worthy exercise.
I still don't like their placement in unit trust money market funds, an after thoughts. They should have used the funds to do share buy-back to derive better benefits for shareholders. Dividend yields from its own stock would definitely better than the return from the said unit trust. Or they can later cancel those shares bought back sitting as Treasury shares, and give its EPS a boost in an expected declining earnings environment.
$4.2 million in share buy-back versus $26 million top up in the said unit trust funds in 2015. What a waste!

Sheldon- not just the CSR you responded to but also another very persistent case asking Magnum to get into organic farming, which is simply infeasible and ludicrous.

Major shareholders filed with the Exchange on June 2 reporting that they had acquired 11 million shares via a married deal. Can anyone shed light on this?

Huat888 is correct. Magmum holds 6.3% of u mobile. In the annual report 2015 Page 99, non current available for sale investments- inquired shares in Malaysia for $243 million reflecting this stake in u mobile.

There's nothing unusual about the director, Charles reducing his stake in Magnum. If you look at both the annual reports for 2014 and 2015, you can conclude he had done the same in 2015 whereby he disposed over a million shares too. I guess around this time next year, he'll cash out on the remaining 1 million shares.

For anyone who wants to add position in Magnum, there's no need to chase to price up. There has been a persistent big seller at $2.34. So, buy only at $2.34 or lower. Moreover, should the 1Q2016 turn out to be bad, i.e. <=4 cents EPS, you may even able to collect it at 10% lower than current price. Nevertheless, I wish it not to happen.

Sheldon- if they only deliver what you're expecting for 1Q2016, it'll be a disastrous FY2016 for Magnum, I afraid. I hope I am not overly optimistic and living in my own lalaland. haha...

nobody- look it up from its Annual Reports, it's towards the end of the lengthy pages.

This stock is totally hopeless! What are they trying to signal by selling 100 shares only which resulted in the stock to close 7.2% lower than the previous day?? Is the Management sleeping?? What's the point of getting shareholders to give them the approval for share buy-back year after year at the AGM?

1Q2016 result just don't make sense in view of the still robust corresponding monthly production numbers released. I just can't trust the financials announced. Bad corporate governance in full display! I guess this stock will stay off my radar for now...

expect 6 cents eps and 5 cents dividends to be declared for 1Q2016. Current weak prices seen in this stock presents a very good entry point for investors looking for both income and value. However, Magnum is surely NOT a growth stock in a foreseeable future.