[M&G] Change In Director's Shareholding - DATO' ABDUL HAMID BIN SH MOHAMED on 27-Jul-2017

Stock [M&G]: SILK HOLDINGS BERHAD
Announcement Date 27-Jul-2017
Director's Particular:
Name DATO' ABDUL HAMID BIN SH MOHAMED
Address -
Details of Changes:
Date of Change 26-Jul-2017
Number of Shares : Acquired 1,000,000
Registered Name
ABDUL HAMID BIN SH MOHAMED
Consideration
RM0.289

Nature of Interest Direct Interest
Shares Ordinary Shares
Reason Acquisition of shares
Consideration -

Special dividend 10 sen and Interim dividend 5 sen ex on 24/07, pay on 23/08

Kindly be advised that the aforesaid Company has changed its name to Marine & General Berhad. As such, the Company’s shares will be traded and quoted under the new name with effect from 9.00 a.m., Friday, 14 July 2017.

The Stock Short Name will be changed as follows:-

Old Name: SILK Holdings Berhad

New Name: Marine & General Berhad

Old Stock Short Name: SILK

New Stock Short Name : M&G

However, the Company's Stock Number remain unchanged.

Conclusion: DRP has been approved by Bursa on 10/07/17. Div 15 sen Ex date may announce next week. DRP price is 0.320. Buy at current price should be safe lah...

On behalf of the Board of Directors of M&G, Affin Hwang Investment Bank Berhad (“Affin Hwang IB”) and Astramina Advisory Sdn Bhd wish to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) has, vide its letter dated 10 July 2017 (which was received after the close of business on 10 July 2017), approved the listing of and quotation for up to 328,843,856 new ordinary shares in M&G (“Shares”) to be issued pursuant to the DRP, subject to the following conditions:

(1) M&G and Affin Hwang IB must fully comply with the relevant provisions under the Main Market Listing Requirements (“Listing Requirements”) of Bursa Securities pertaining to the implementation of the proposal;

(2) M&G and Affin Hwang IB to inform Bursa Securities upon completion of the proposal; and

(3) M&G to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities approval once the DRP is completed.

As the new Shares to be issued pursuant to the DRP will be listed and quoted as the existing securities of the same class, quotation of the new ordinary shares will commence on the next market day after the following:

(i) submission of the share certificate together with a covering letter containing the summary of the corporate proposal to Bursa Malaysia Depository Sdn Bhd (“Bursa Depository”) before 10.00 a.m. on the market day prior to the listing date;

(ii) receipt of confirmation from Bursa Depository that the additional new shares are ready for crediting into the securities accounts of the respective account holders; and

(iii) an announcement in accordance to Paragraph 13.2 of Practice Note 28 is submitted via Bursa Link before 3.00 p.m. on the market day prior to the listing date.

M&G is required to ensure full compliance of all the requirements under the Listing Requirements at all times.

This announcement is dated 11 July 2017.

The Board of Directors of the Company (“Board”) is pleased to declare a special dividend of 10 sen per Share (“Special Dividend”) and an interim dividend of 5 sen per Share for the financial year ending 31 December 2017 (“Interim Dividend”) (Collectively, the “Dividends”).

The shareholders of the Company had at the Extraordinary General Meeting held on 21 June 2017, approved the dividend reinvestment plan that gives its shareholders the option to reinvest their cash dividend(s) declared by SHB in new Shares (“DRP”).

The Board has determined that the DRP shall apply to the entire portion of the Dividends.

The Board has also fixed the issue price of the new Shares to be issued pursuant to the DRP at RM0.32 per new Share today (“Issue Price”) (“Price Fixing Date”). The Issue Price represents a 9.25% discount to the adjusted 5-day volume-weighted average market price (“VWAP”) of the Shares immediately prior to the Price Fixing Date. The 5-day VWAP of the Shares immediately prior to the Price Fixing Date of RM0.5026 adjusted for the Dividends per Share of RM0.15 is RM0.3526.

The Company will be submitting an application to Bursa Malaysia Securities Berhad (“Bursa Securities”) for the listing of and quotation for the new Shares to be issued pursuant to the DRP on the Main Market of Bursa Securities.

The book closure date to determine the entitlement for the Dividends will be announced after obtaining the approval from Bursa Securities on the Company’s additional listing application.

This announcement is dated 21 June 2017.

c21 last date trading is today...

flyingkite, c28 conversion ratio is 2.50. So premium around 19%

LATEST NEWS, CORPORATE

Ajiya's 2Q net profit dives 84% on weaker demand

By Supriya Surendran & Ahmad Naqib Idris / theedgemarkets.com | July 22, 2016 : 7:35 PM

KUALA LUMPUR (July 22): Metal roofing and safety glass specialist Ajiya Bhd saw its net profit for the second quarter ended May 31, 2016 (2QFY16) dive 84.1% to RM973,000 from RM6.13 million a year ago, on weaker market conditions, primarily in the construction sector, which affected demand for its products.

Its profit before tax for the quarter more than halved to RM7.92 million from RM16.99 million in 2QFY15, Ajiya's bourse filing today showed.

Revenue-wise, the Segamat-based company reported a 9.4% decrease to RM101.15 million, from RM111.67 million.

As for its cumulative six months ended May 31, 2016 (1HFY16), net profit came in at RM4.07 million, down 62.2%, from its 1HFY15 net profit of RM10.76 million.

Its half-year revenue also fell 10% lower to RM194.79 million, from RM216.54 million in 1HFY15.

On prospects, the company expects its Ajiya Green Integrated Building System (AGIBS) to play a vital role in its growth trajectory, and will continue to expand its market in Malaysia, Thailand and other Southeast Asian countries.

Separately, in a statement, Ajiya managing director, Datuk Chan Wah Kiang said the group remains optimistic on the group’s performance, in line with the growing demand, especially for affordable homes.

“We have transformed our metal products operations by becoming a manufacturer for a comprehensive range of housing building components, as seen in the Ajiya Green Integrated Building Systems (AGIBS).

“The AGIBS housing system is expected to play a vital role in our group’s trajectory, in view of the government’s effort to build affordable housing projects in the coming years and to elevate the performance of the Malaysian construction industry,” he said.

He added that Ajiya is also expanding its production capacity, as the group vies for more public sector-led projects.

Meanwhile, Ajiya shared it had obtained its shareholders nod to carry out its proposed share split, bonus issue and the establishment of an employees’ share option scheme (ESOS), following its extraordinary general meeting (EGM) today.

The proposed share split entails the subdivision of every one RM1 share in Ajiya into four shares of 25 sen each, while the bonus issue comprises the issuance of 152.29 million warrants in Ajiya, on the basis of one warrant for every two subdivided shares.

The proposed share split is expected to be completed by the third quarter of 2016.

Ajiya shares closed down 2 sen or 0.48% today to RM4.13, for a market capitalisation of RM314.48 million. In the past 12 months, its shares have risen 71.4%, from RM2.41.

Friend, u hv to find your own reason. Do some homework before you buy.

KUALA LUMPUR (July 19): NWP Holdings Bhd announced a series corporate exercises, including a private placement of up to 10% of the group's existing issued and paid-up share capital to raise up to RM9.6 million for working capital.

The timber products manufacturer told Bursa Malaysia today that it is also proposing a share issuance scheme of up to 15% of the company's issued and paid-up share capital for the eligible directors and employees of NWP and its non-dormant subsidiaries as a reward for their contributions.

Other proposals include an increase in its authorised share capital from RM100 million comprising 400 million ordinary shares of 25 sen each to RM500 million comprising two billion NWP shares, and amendments to its memorandum of association to facilitate the proposed increase in authorised share capital.

The group said the issue price of the placement shares will be determined and fixed by the board at a later date.

Based on an indicative issue price of 30 sen per placement share, the group expects gross proceeds of up to RM9.6 million, which will be utilised as working capital.

As at Feb 28, the group's total payables stood at about RM5.79 million, while cash and bank balances stood at about RM100,000.

"Thus, the additional funds to be raised from the proposed private placement [are] expected to ease the group's cash flows," it added.

Shares in NWP fell 0.5 sen or 1.56% to close at 31.5 sen, with 660,400 shares traded today.

Latest News, Corporate
CSC Steel good proxy to high dividend yield, says HLIB Research

By theedgemarkets.com / theedgemarkets.com | July 18, 2016 : 8:42 AM MYT

KUALA LUMPUR (July 18): Hong Leong IB Research CSC Steel Holdings Bhd (CSC) is a good proxy to high dividend yield (DY) seekers, especially in an environment of tepid earnings growth and ultra low/negative interest rates.

In a trading idea note today, the research house said that for the past 10 years, CSC was able to ride on the tough operating environment largely unscathed, thanks to its hands-on management, solid balance sheet, sound business structure, product acceptance and operational efficiency coupled with strong backing from its parent, China Steel Corp, Taiwan.

“Ex-cash of 76 sen, CSCSTEL is merely trading at 4.2x FY15 P/E, supported by average 10-year DY of 7.6%.

“In the wake of its grossly oversold daily and weekly indicators, CSC is likely to build a base near RM1.17-1.21 levels.

“A decisive breakout above RM1.28 will lift prices higher towards RM1.36-1.45 levels. Cut loss at RM1.16,” it said.

$$$ on the way......

This announcement is dated 13 June 2016.

We refer to the announcements dated 8 June 2015, 22 July 2015, 27 July 2015, 6 October 2015, 29 October 2015, 8 December 2015, 7 March 2016 and 14 March 2016 in relation to the Proposals (“Announcements”), and the circular to shareholders dated 7 October 2015 (“Circular”).

Unless otherwise stated, the definitions used throughout this announcement shall have the same meaning as defined in the Announcements and Circular.

On behalf of the Board of Directors of GLBHD, AmInvestment Bank Berhad wishes to announce that the sealed order dated 18 May 2016 confirming the Proposed Capital Repayment (“Order”) has been extracted from the High Court of Malaya today.

An office copy of the Order will be lodged with the Companies Commission of Malaysia on the entitlement date of the Proposed Capital Repayment, upon which the share capital reduction shall take effect.

Upon the said lodgment, the par value of every ordinary share of RM1.00 each in GLBHD will be reduced to RM0.25 each, whereby the existing issued and paid-up share capital of GLBHD of RM222,912,569.00 comprising 222,912,569 ordinary shares of RM1.00 each will be reduced to RM55,728,142.25 comprising 222,912,569 ordinary shares of RM0.25 each and the authorised share capital of GLBHD of RM500,000,000.00 divided into 500,000,000 ordinary shares of RM1.00 each will also be reduced to RM125,000,000.00 divided into 500,000,000 ordinary shares of RM0.25 each.

YA. BUY 1 AJIYA NOW, AFTER 1 SPLIT FOUR, YOU HAVE 4 AJIYA SHARES PLUS 2 FREE WARRANTS.

Details of the Proposed Bonus Issue of Warrants
The Proposed Bonus Issue of Warrants will entail an issuance of 152,292,242 Warrants, on
the basis of one (1) Warrant for every two (2) Subdivided Shares held by the Entitled
Shareholders on the Entitlement Date after the completion of the Proposed Share Split.
The Warrants to be issued pursuant to the Proposed Bonus Issue of Warrants shall each give
to its holder an option to subscribe for one (1) new Ajiya Share for each Warrant.
Fractional entitlements that may arise from the Proposed Bonus Issue of Warrants will be
dealt with in such manner as the Board shall in its absolute discretion deem fit and expedient ,
and in the best interest of the Company.
The Company does not intend to implement the Proposed Bonus Issue of Warrants in stages
over a period of time.

Details of the Proposed Share Split
The Proposed Share Split entails the subdivision of every one (1) existing ordinary share of
RM1.00 each in Ajiya into four (4) Subdivided Shares held by the Entitled Shareholders on the
Entitlement Date.
As at 23 May 2016, being the latest practicable date prior to this announcement (“LPD”), the
issued and paid-up share capital of the Company is RM76,146,121 comprising 76,146,121
ordinary shares of RM1.00 each. Upon completion of the Proposed Share Split, the issued
and paid-up share capital of Ajiya will be RM76,146,121 comprising 304,584,484 Subdivided
Shares.

Congratulations!!!
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5101245

Don't know yet. But expect within two weeks.

Notice of Book Closure may announce on mid of Apr...

We refer to the announcements dated 5 November 2015, 25 November 2015, 8 December 2015, 14 January 2016, 15 January 2016 and 7 March 2016 in relation to the Proposals (“Announcements”).

Unless otherwise stated, the definitions used throughout this announcement shall have the same meaning as defined in the Announcements.

On behalf of the Board of Directors of RCE, AmInvestment Bank Berhad wishes to announce that the High Court of Malaya had on 5 April 2016 granted a court order confirming the Proposed Share Capital Reduction (“Order”). The effective date of the Proposed Share Capital Reduction will be the date the sealed copy of the Order is lodged with the Companies Commission of Malaysia.

This announcement is dated 5 April 2016

By TA Securities / The Edge Financial Daily | March 28, 2016 : 10:03 AM MYT


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Translated by Google Translator:




This article first appeared in The Edge Financial Daily, on March 28, 2016.

Gamuda Bhd
(March 25, RM4.93)
Upgrade to buy with a higher target price (TP) of RM5.57: Gamuda Bhd’s first half ended Jan 31, 2016 (1HFY16) net profit of RM321.3 million came in within expectations, accounting for 52% and 51% of our and street’s FY16 full-year estimates, respectively.

Year-on-year (y-o-y), it dropped 12.7% due to lower earnings contribution from all three core divisions, namely construction, property and concession. The 33.5% fall in construction profit before tax was expected as the construction works for mass rapid transit (MRT) Line 1 tapered off. Its property division recorded a lower revenue (down 13.4% y-o-y) and margin (3.3% lower) amid softening of the property market. Gamuda’s concession earnings were marginally lower (down 1.7%) as drops in tollable traffic on its highways after the toll hikes in mid-October 2015 were offset by higher contractual toll rates effective the beginning of 2016.

Quarter-on-quarter, Gamuda’s net profit was almost unchanged at RM160.1 million as lower profits before tax in the construction division (7.4% lower) and property division (8.1% lesser) were offset by a better performance of its concession division (up 7.1%).

On its construction division, Gamuda’s management guided that the awards for the MRT Line 2 underground package and two elevated packages are imminent. We strongly believe that the MMC Corp Bhd-Gamuda joint venture (JV) would secure the underground package given its: i) familiarity with the ground condition after undertaking the underground works for MRT Line 1; ii) strong execution track record with MRT line 1; iii) cost advantage as the tunnel boring machine used in MRT Line 1 could be reused for MRT Line 2; and iv) advantage under the Swiss Challenge tender method, which allows the JV to match or better the best bid submitted by competitors.

The total cost of MRT Line 2 is estimated at between RM28 billion and RM30 billion. We estimate the contract sum for MRT Line 2 underground works to be RM12 billion to RM13 billion. This is higher than the RM8.2 billion value of MRT Line 1 given the lengthier tunnelling works (13.5km versus 9.5km) and an increased number of stations (11 versus seven).

As for its property development division, the group achieved property sales of only RM115 million in the second quarter ended Jan 31,2016 (RM385 million in 1HFY16), versus management’s guidance of RM1.32 billion and our assumption of RM1.2 billion for FY16. We see downside risks to the FY16 sales target. Gamuda’s unbilled sales declined from RM1.2 billion a quarter ago to RM1 billion. Its property projects in Vietnam achieved mixed results with Celadon City in Ho Chi Minh City meeting expectations while the sales at Gamuda City in Hanoi began to slow down.

On its concession division, with toll hikes ranging from 31% to 100% for several highways under Gamuda’s portfolio, namely Damansara–Puchong Expressway, Sprint Expressway, and Stormwater Management and Road Tunnel, the traffic volume experienced 3% to 8% decline during the initial stage of the toll hikes but the traffic volume has recovered half of its initial decline. There is no significant progress on the negotiations between the federal and state governments on the disposal of its water asset Syarikat Pengeluar Air Sungai Selangor Sdn Bhd.

We maintain our earnings projection on the group. As the construction works for KVMRT Line 1 are tapering off and property sales for FY15 have slowed down, we expect to see a drop in earnings in FY16 before rebounding in FY17 as works for KVMRT Line 2 pick up momentum. FY17 is expected to be the beginning of a new cycle of earnings growth.

We rolled forward our valuation base year to calender year 2017 (CY17) and arrived at a higher TP of RM5.57 from RM4.74 previously, based on 20 times CY17 construction earnings, 14 times CY17 property earnings and 16 times CY17 earnings from toll road and water concessions. We upgrade Gamuda to “buy” given the visibility of earnings growths in FY17 and FY18. — TA Securities, March 25

无可否認cscstel is good. But now my concern is: 中钢台湾的母公司卖给cscstel 的HRC 价格不再像以往般有优惠价,that means cscstel HRC cost is higher than usual. And, their staff monthly bonus incentive drop more than 50%. That's may b profit margin become narrow...

Please go myNews.com buy the edge weekly, read page 32: Fernandes and partners may have to fork out RM5b to privatise budget carrier......
"This is not the first time Tony and his people have tried to privatise AirAsia," a source says. "In the past, the plan fell through because of funding issues, but this time, things are firmer."
Buy and read :) enjoy the article...

Ya, the edge weekly report......

The controlling shareholders of Air Asia Bhd, Tan Sri Tony Fernandes and Datuk Kamarudin Meranun, are planning to privatise the budget airline in partnership with a company in China Everbright Bank Co Ltd's stable, sources familiar with the matter tell The Edge.
It is understood that talks between the two parties have been going on for some time now.

So, go buy the edge weekly now...

Hot Stock

3A gains 1.9% on positive outlook from HLIB Research

By Surin Murugiah / theedgemarkets.com | February 18, 2016 : 9:26 AM MYT

KUALA LUMPUR (Feb 18): Three-A Resources Bhd (3A) shares gained 1.9% this morning after Hong Leong IB Research said 3A was poised for a triangle breakout and that it likes 3A for its growth in the mid to long term will be underpinned by (i) steady underlying demand growth in the F&B industry amid its strong recession-proof products; (ii) growing export markets and product range; (iii) strong tie-up with Wilmar in China and (iv) higher economies of scale and production efficiency.

At 9.09am, 3A gained 2 sen to RM1.07 with 113,900 shares done.

In a note today, the research house said it sees share prices to break immediate resistance of RM1.09 to reach short to medium term upside targets of RM1.13-1.26 levels.

“Cut loss at 97 sen,” it said.

Inventory Sold-out

The issuer has sold all of the inventory for this warrant or is approaching this point. Please take caution, the market maker is no longer able to provide an active offer in these warrants and the current market bid price may be inflated by speculators.

DSONIC-CH (5216CH) HSI-C13 (065113)
HSI-C15 (065115) SUPERMX-C9 (7106C9)
UEMS-C21 (514821)

Inventory Sold-out

The issuer has sold all of the inventory for this warrant or is approaching this point. Please take caution, the market maker is no longer able to provide an active offer in these warrants and the current market bid price may be inflated by speculators.

DSONIC-CH (5216CH) HSI-C13 (065113)
HSI-C15 (065115) SUPERMX-C9 (7106C9)
UEMS-C21 (514821)

Results Preview

Inari’s 2QFY16 earnings to come within expectations, says AffinHwang Capital

By theedgemarkets.com / theedgemarkets.com | February 12, 2016 : 8:32 AM MYT

KUALA LUMPUR (Feb 12): AffinHwang Capital Research has maintained its “Buy” rating on Inari Amertron Bhd at RM3.20 with an unchanged target price of RM4.12 and said Inari’s share-price correction fully reflects a weak 3QFY16E.

In a note today, the research house however said earnings should recover in 4QFY16E in tandem with a new product launch and, as such, it was leaving its EPS forecasts intact.

“Meanwhile, 2QFY16 earnings, due on 23 February, are likely to come within our expectations.

“Reaffirm Buy. A country top pick for 2016,” it said.

KUALA LUMPUR (Dec 7): Debt laden 1Malaysia Development Bhd (1MDB) may soon be closing its final deal on the 60% stake of Bandar Malaysia’s project to remove its debt burden, according to a news report.

The Singapore's Straits Times reported that the China-backed consortium led by Malaysia's Iskandar Waterfront Holdings (IWH) ( Valuation: 0.90, Fundamental: 0.85), which is controlled by the property tychoon Tan Sri Lim Kang Hoo, is the frontrunner for the stake of more than RM11 billion.

The report said the state investment firm is in the final stages of selling its 60% of the township project in Kuala Lumpur. The deal could be announced this week, coinciding with the annual Umno general assembly.

According to The Straits Times, a China-backed consortium led by IWH is learnt to be the front runner to take the controlling stake of Bandar Malaysia, which is valued at more than RM11 billion.

Located within 7km of Kuala Lumpur City Centre, the 197-hectare (486-acre) Bandar Malaysia will serve as Kuala Lumpur’s gateway for the high-speed rail (HSR) line to Singapore and become a central transport hub in the city via Mass Rapid Transit (MRT) lines 2 and 3, KTM Komuter, Express Rail Link (ERL) and future access to major highway networks.

IWH's partner in the proposed Bandar Malaysia deal is China Railway Engineering, which is eyeing a stake in the township for more than just its property play, a source close to IWH told The Strait Times.

"Gaining rights to build the terminal in Bandar Malaysia will give them a leg up in the HSR deal," said the source.

The Chinese firm is hoping to get ahead of the queue in bidding for the 340km line that will shorten the travelling time from Singapore to KL, to 90 minutes.

Around 150 companies and consortiums have responded to a request-for-information (RFI) for the S$14.9 billion (RM44.7 billion) HSR in an October market-sensing exercise by Singapore and Malaysia.

The respondents include firms based in Malaysia, Singapore, other parts of the Asia-Pacific region, Europe, the Middle East and North America, said Malaysia's Land Public Transport Commission and Singapore's Land Transport Authority.

IWH, a major property player in Johor's Iskandar Malaysia development, is controlled by Lim and it owns over 1,600ha of land just across the Causeway from Singapore.

A 1MDB source told The Straits Times that Lim "is a front runner" as another bid was from state fund manager Permodalan Nasional (PNB) and the third had failed to materialise by Mr Arul's early November deadline.

Since selling a 1MDB asset to another government agency like PNB would be seen as a bailout, the China Railway-IWH proposal is the front runner.

In a media conference on Oct 31, 1MDB chief Arul Kanda Kandasamy said the Bandar Malaysia divestment would net at least RM11 billion for the finance ministry-owned company. He said three bidders were likely to submit "final binding and fully funded proposals" within seven to 10 days, but did not name the prospective buyers.

But according to the IWH source, the delay in naming the winner had agitated Lim, who was concerned after hearing that there might be a bid from Qatar players.

However, sources say there are still several hurdles to finalising the deal. For instance, 1MDB needs cash to pay down its loans, but Lim is said to prefer land swaps and other payments in kind. A fully funded Qatari bid would likely be a straight cash-for- equity purchase.

1MDB has been looking ways to reduce its debt pile, which stood at some RM42 billion at the end of March last year, based on its last available financial statements.

The state fund has in last month signed a deal to sell power plant unit Edra Global Energy Bhd (Edra) to China General Nuclear Power for RM17 billion. The deal is expected to complete in February.

Besides, 1MDB also has a RM16 billion debt-for-asset swap with an Abu Dhabi sovereign wealth fund, Abu Dhabi International Petroleum Investment Company (IPIC).

U.S. stocks sold off on Thursday, pushing both the Dow industrials and the S&P 500 further into negative territory for the year, after the European Central Bank unveiled a smaller-than-expected expansion of its monetary stimulus program.

The drop came amid a sharp surge in the euro and a selloff in government bonds and European stocks, while Federal Reserve chief Janet Yellen once again signaled a U.S. interest-rate hike in mid-December.

The S&P 500 SPX, -1.44% fell 29.88 points, or 1.4%, to 2,049.63, its biggest decline since Sept. 28. The benchmark index turned negative for the year. The Dow Jones Industrial Average DJIA, -1.42% dropped 251.74 points, or 1.4%, to 17,477.67, further into negative territory for the year. The Nasdaq Composite COMP, -1.67% ended the session down 85.70 points, or 1.7%, to 5,037.53


Analysts described Thursday’s stock rout as a violent unwind of a crowded trade. See also: Beware the crowded central bank trade.

Investors had piled into the short euro/long European stocks trade, and quickly reversed the trade after the ECB’s announcement fell short of the market’s expectations, analysts said.

The details of more QE “are not the big bang that some had thought and/or hoped for,” said Peter Boockvar, chief market analyst at The Lindsey Group.

See also: Here’s why investors booed European Central Bank’s stimulus plans.

The ECB’s announcement prompted heavy short covering in the euro EURUSD, -0.0823% which jumped more than 3% versus the U.S. dollar, posting its largest one-day move since 2009.

But as investors sold the U.S. dollar, they also sold liquid dollar-denominated assets, mainly U.S. Treasurys and liquid U.S. equities, said Douglas Coté, chief market strategist at Voya Investment Management, pushing Treasury yields to fresh 5½-year highs and stocks deep into negative territory.

Even though oil CLF6, +3.33% was up 2.9% to $41.08 a barrel, several of the worst-performing stocks belonged to oil companies, including Chesapeake Energy Corp. CHK, -11.78% which closed down 12%, PVH Corp. PVH, -11.09% down 11%, and Southwestern Energy Co. SWN, -7.46% , down 7.6%. OPEC will meet Friday, and many investors expect the cartel will finally cut output, which could lift oil prices and put a floor under oil stocks.

Meanwhile, health care was the worst performer on the S&P, closing down 2.2%, mainly due to end-of-year profit-taking from one of the year’s best performing sectors, to make up for losses in bad performers, mainly energy and utilities, said Kim Forrest, senior portfolio manager at Fort Pitt Capital.

Earlier Thursday, in her testimony to Congress, Fed chief Yellen largely reiterated comments she made on Wednesday, which laid out the groundwork for a rate increase at the U.S. central bank’s Dec. 15-16 meeting.

Yellen said she’s looking for a continued solid trend of job creation in November’s employment report, to be released on Friday morning at 8:30 a.m. Eastern. “But we can’t overweight any one number,” she said.

The theme of monetary-policy divergence is expected to dominate trading in the near future, said Ninh Chung, head of investment strategy for Silicon Valley Bank. But the notion that the Fed is confident enough in the U.S. economy to raise rates could eventually help push stocks higher, according to Chung.

Commentary: As Fed hikes and ECB eases, markets could get wild, El-Erian says

Mixed U.S. data: Weekly jobless claims rose but held near 15-year lows, while the Institute of Supply Management’s nonmanufacturing index posted in November its largest one-month decline since November 2008.

Meanwhile, factory orders climbed in October but missed economists’ expectations.

Stocks to watch: Shares of Avago Technologies Ltd. AVGO, +9.51% closed up 9.5% after the company posted a stronger-than-expected profit after the closing bell on Wednesday.

Dollar General DG, +4.24% shares rose 4.2% after the company topped profit views, but reported a sales miss.

Amazon.com Inc.’s AMZN, -1.44% stock AMZN, -1.44% reversed earlier gains, falling 1.4% after the online retail giant said its Fire tablet is now available in China.

Yahoo Inc. YHOO, -3.67% fell 3.7%, as several potential suitors have emerged for its core Internet business. Verizon Communications Inc. VZ, -0.80% and Barry Diller’s IAC/InterActive Corp. IACI, -2.90% are among the companies interested, reported The Wall Street Journal, citing people familiar with the matter.

Oil on the rebound: In other markets, U.S. crude CLF6, +3.33% recaptured the $40-a-barrel mark, pushing higher as investors sought bargains in the wake of Wednesday’s fallout and as leaders from the Organization of the Petroleum Exporting Countries begin to gather. Gold prices GCG6, +0.69% rose modestly. Read: Barclays slashes oil forecast ahead of OPEC meeting

Congratulations! Cash settle RM0.1949

FBMKLCI-HG: PW FTSE BURSA MALAYSIA KLCI INDEX (CIMB)


Type Announcement
Subject STRUCTURED WARRANTS ANNOUNCEMENT
FINAL SETTLEMENT
Description CIMB BANK BERHAD (CIMB BANK)

EXPIRY OF EUROPEAN STYLE NON-COLLATERALISED CASH-SETTLED PUT WARRANTS OVER THE FTSE BURSA MALAYSIA KLCI (FBMKLCI) (FBMKLCI-HG);




We wish to announce that the FBMKLCI-HG expired at 5.00 p.m. on 30 November 2015 (“Expiry Date”) and the Cash Settlement Amount shall be calculated as below.




Cash Settlement Amount

=

Number of FBMKLCI-HG x (Exercise Level – Closing Level) x (1/Exercise Ratio) x Multiplier




=

Number of FBMKLCI-HG x (1,800.00 – 1,670.00) x (1/667) x RM1




=

Number of FBMKLCI-HG x RM0.1949




The Closing Level of 1,670.00 is the reference to the final settlement price for settling the corresponding spot-month index future contracts on the Expiry Date.



The Cash Settlement Amount, less all exercise expenses shall be made by way of cheque within 7 market days from the Expiry Date. The cheques will be delivered to warrantholders by ordinary post.



This announcement is dated 30 November 2015.

FM, how about your CIMB?

Fund Manager, I follow you... Thanks!

Dear friends, hope above announcement can help you to do the right decision...

Inventory Sold-out: the issuer has sold all of the inventory for this warrant or is approaching this point. Please take caution, the market maker is no longer able to provide an active offer in these warrants and the current market bid price may be inflated by speculators.

CHINA50-C6 (0655C6) CIMB-C6 (1023C6)
FBMKLCI-C1 (0650C1) FBMKLCI-CZ (0650CZ)
FBMKLCI-HT (0650HT) FGV-C7 (5222C7)
HSI-CP (0651CP) HSI-CT (0651CT)
HSI-CU (0651CU) HSI-CV (0651CV)

(0.41-0.40)/0.75=1.333333333
(0.44-0.40)/0.75=5.333333333

今日 06:00 國際財經
耶倫:10月可能加息
聯邦儲備局主席耶倫重申，每次議息會也可能加息，因此10月也有可能加息，而當局不會看重單一經濟數據，或是金融市場每日變化。

聯儲局較早時公布，維持基準利率不變。有關決定是在9對1的情況下作出。

耶倫在議息會後向記者指出，美元滙價上升與能源價格回落，是導致進口商品價格下跌的主要因素，令到通脹仍然低於2%指標。她指出，美元滙價可能短期內續升，而能源價格也有下行壓力，令到通脹趨勢仍然是受壓的，但相關因素只是短暫性的。

她相信，有關因素在下次會議前，仍可能對通脹有壓力，但委員會仍然相信，長期通脹會朝著2%指標進發。

她承認，8月出現的金融市場動盪引發關注，中國經濟下行風險，以及有關當局應對事件的做法可能有落差，也是導致問題備受關注的因素之一。此外，商品價格下跌，影響部分新興市場的經濟情況，同樣令人關注。

今日 06:00 國際財經
耶倫:10月可能加息
聯邦儲備局主席耶倫重申，每次議息會也可能加息，因此10月也有可能加息，而當局不會看重單一經濟數據，或是金融市場每日變化。

聯儲局較早時公布，維持基準利率不變。有關決定是在9對1的情況下作出。

耶倫在議息會後向記者指出，美元滙價上升與能源價格回落，是導致進口商品價格下跌的主要因素，令到通脹仍然低於2%指標。她指出，美元滙價可能短期內續升，而能源價格也有下行壓力，令到通脹趨勢仍然是受壓的，但相關因素只是短暫性的。

她相信，有關因素在下次會議前，仍可能對通脹有壓力，但委員會仍然相信，長期通脹會朝著2%指標進發。

她承認，8月出現的金融市場動盪引發關注，中國經濟下行風險，以及有關當局應對事件的做法可能有落差，也是導致問題備受關注的因素之一。此外，商品價格下跌，影響部分新興市場的經濟情況，同樣令人關注。

The following are selected highlights of the press conference of Federal Reserve Chairwoman Janet Yellen after the central bank’s decision not to increase interest rates.

On whether the Fed could hike next month: “So as I’ve said before, every meeting is a live meeting where the committee can make a decision to move to change our target for the federal funds rate. That certainly includes October. As you know and I’ve stressed previously, were we to decide to do that, we would call a press briefing and you’ve participated in an exercise to make sure that you would know how to participate in that press briefing, should it happen.”

On what it would take for the Fed to hike: “To be clear, our decision will not hinge on any particular data release. Or on day-to-day movements in financial markets. Instead, the decision will depend on a wide range of economic and financial indicators. And our assessment of their cumulative implications for actual and expected progress towards our objectives.”


On why inflation is running under its 2% target: ”An important reason for that is that declines in import prices reflecting the appreciation of the dollar and declines in energy prices [that] are holding down inflation well below our target and well below core inflation. We expect those effects to be transitory and with well anchored inflation expectations we expect inflation to move back to 2%. Now in the intermeeting period, we have seen some further appreciation of the dollar and some further downward pressure on energy prices. And that creates a bit of further drag on inflation that I would view as transitory, as very likely to be transitory. So I continue and the committee continues to expect that inflation will move back to 2%. So this should be a small thing and in the meantime the labor market has continued to improve.”

On why markets have been volatile: “I think developments that we saw in financial markets in August in part reflected concerns that there was downside risk to Chinese economic performance and perhaps concerns about the gaps where policymakers were addressing those concerns, in addition we saw a very substantial downward pressure on oil prices in commodity markets. And those developments have had a significant impact on many emerging market economies that are important producers of commodities as well as more advanced countries including Canada which is an important trading partner of ours that’s been negatively affected by declining commodity prices, declining energy prices.”

On whether the Fed considered negative interest rates, as one participant called for: “So let me be clear that negative interest rates was not something that we considered very seriously at all today. It was not one of our main policy options.”

On whether the Fed has furthered income inequality with low interest rates: “The main thing that an accommodative monetary policy does is put people back to work. Since income inequality is surely exacerbated by having a high unemployment and a weak job market, that has the most profound negative effects on the most vulnerable individual. To me, putting people back to work and seeing a strengthening of the labor market that has a disproportionately favorable effect on vulnerable portions of our population, that’s not something that increases income inequality.”

The following are selected highlights of the press conference of Federal Reserve Chairwoman Janet Yellen after the central bank’s decision not to increase interest rates.

On whether the Fed could hike next month: “So as I’ve said before, every meeting is a live meeting where the committee can make a decision to move to change our target for the federal funds rate. That certainly includes October. As you know and I’ve stressed previously, were we to decide to do that, we would call a press briefing and you’ve participated in an exercise to make sure that you would know how to participate in that press briefing, should it happen.”

On what it would take for the Fed to hike: “To be clear, our decision will not hinge on any particular data release. Or on day-to-day movements in financial markets. Instead, the decision will depend on a wide range of economic and financial indicators. And our assessment of their cumulative implications for actual and expected progress towards our objectives.”


On why inflation is running under its 2% target: ”An important reason for that is that declines in import prices reflecting the appreciation of the dollar and declines in energy prices [that] are holding down inflation well below our target and well below core inflation. We expect those effects to be transitory and with well anchored inflation expectations we expect inflation to move back to 2%. Now in the intermeeting period, we have seen some further appreciation of the dollar and some further downward pressure on energy prices. And that creates a bit of further drag on inflation that I would view as transitory, as very likely to be transitory. So I continue and the committee continues to expect that inflation will move back to 2%. So this should be a small thing and in the meantime the labor market has continued to improve.”

On why markets have been volatile: “I think developments that we saw in financial markets in August in part reflected concerns that there was downside risk to Chinese economic performance and perhaps concerns about the gaps where policymakers were addressing those concerns, in addition we saw a very substantial downward pressure on oil prices in commodity markets. And those developments have had a significant impact on many emerging market economies that are important producers of commodities as well as more advanced countries including Canada which is an important trading partner of ours that’s been negatively affected by declining commodity prices, declining energy prices.”

On whether the Fed considered negative interest rates, as one participant called for: “So let me be clear that negative interest rates was not something that we considered very seriously at all today. It was not one of our main policy options.”

On whether the Fed has furthered income inequality with low interest rates: “The main thing that an accommodative monetary policy does is put people back to work. Since income inequality is surely exacerbated by having a high unemployment and a weak job market, that has the most profound negative effects on the most vulnerable individual. To me, putting people back to work and seeing a strengthening of the labor market that has a disproportionately favorable effect on vulnerable portions of our population, that’s not something that increases income inequality.”

Shanghai and HK turn RED...

Shanghai and HK turn RED...

Thanks a lot! FM, well done.

FM, swee lah!

Thanks Fund Manager, I collect enough HG, waiting for your show :)

World shares rise, dollar frozen ahead of Fed rate decision
Reuters
Reuters – 18 minutes ago
ShareTweet
Print
RELATED CONTENT
Dealers work on the trading floor at IG Index in London, Britain August 25, 2015. REUTERS/Suzanne PlunkettView Photo
Dealers work on the trading floor at IG Index in London, Britain August 25, 2015. REUTERS/Suzanne Plunkett
By Marc Jones
LONDON (Reuters) - World share markets rose on Wednesday, albeit in thin volume, and short-term U.S. bond yields held near 4 1/2-year highs as investors braced for the possibility of the first interest rate hike in the United States in almost a decade.
A late 5 percent surge in Chinese stocks had helped Asia's bourses finish more than 2 percent higher as early gains of 0.7 to 1.3 percent for London's FTSE, Frankfurt's DAX and Paris's CAC 40 got Europe of to a solid day too.
Markets remained in a state of flux on the likelihood of a rate increase by the Fed at its two-day meeting starting later in the day, and U.S. economic data published on Tuesday did little to either back, or douse, expectations of one.
Inflation data is due in both the U.S. and Europe and with both likely to show it remains barely visable in either region as it has for over a year now, that is unlikely to sway many opinions either.
All the uncertainty left the dollar in frozen animation against the world's other main currencies having rebounded from Monday's three-week low of 95.125 to stand at 95.600. But it is essentially staying within its well-worn range of the last few weeks.
The euro traded at $1.1261 while the dollar inched down fractionally against the yen to 120.27 yen.
"It's more a day for thinking about tomorrow," said Kit Juckes, head of currency strategy at Societe Generale in London.
"Positions are coming off rather than going on. We have seen the front end (short-dated U.S. government bond yields) rally but it hasn't really sent the dollar roaring."
Emerging market currencies remained under pressure near multi-year lows against the dollar amid worries that higher U.S. interest rates could lure away foreign investors again.
ROUBLE RALLY
However some of those hardest hit in recent months, like Russia's rouble, Turkey's lira and Mexico's peso made notable gains as traders squared up in case of any Fed related surprises.
The rouble was up almost 1.5 percent against the dollar and 1.7 percent against the euro.
Oil prices also helped as it extended gains made on Tuesday. Brent climbed more than 1 percent to $48.32 per barrel and U.S. crude hit $45.27, as an unexpected stockpile drawdown reported by the American Petroleum Institute (API) on Tuesday set expections for official crude inventory data later.
Gold was languishing near 1-mth lows ahead of the Fed meeting at $1,108 an ounce, though industrial metals including copper, nickel and tin made more minor gains as their slight recovery of the last few weeks continued.
China shares had provided a boost too, as they saw a strong rally in the last hour of trading to end up 5 percent. Hong Kong's Hang Seng index jumped in tandem to close 2.4 percent higher.
Bond markets were largely biding their time ahead of the Fed. U.S. Treasuries' yields sagged having jumped on Tuesday, with the policy-sensitive two-year yield rising to 0.815 percent, its highest level since April 2011.
It last traded at 0.7822 percent.
The 10-year U.S. notes' yield stood at 2.2616 percent, having risen to a 1-1/2-month high of 2.294 percent on Tuesday, while yields in benchmark European markets also dipped as the ECB stressed its openness to more money printing.
"The total amount that we have purchased represents 5.3 percent of the GDP (gross domestic product) of the euro area, whereas what the Fed has done represents almost 25 percent of the U.S. GDP, what the Bank of Japan has done represents 64 percent of the Japanese GDP and what the U.K. has done 21 percent of the UK’s GDP," Constancio told Reuters in an interview.
"So we are very far from what the major central banks have done," Constancio, 71, said. "This is not a benchmark ...(but) there is scope, if the necessity is there."
(Reporting by Marc Jones; editing by Ralph Boulton)
@YahooSG on Twitter

World shares rise, dollar frozen ahead of Fed rate decision
Reuters
Reuters – 18 minutes ago
ShareTweet
Print
RELATED CONTENT
Dealers work on the trading floor at IG Index in London, Britain August 25, 2015. REUTERS/Suzanne PlunkettView Photo
Dealers work on the trading floor at IG Index in London, Britain August 25, 2015. REUTERS/Suzanne Plunkett
By Marc Jones
LONDON (Reuters) - World share markets rose on Wednesday, albeit in thin volume, and short-term U.S. bond yields held near 4 1/2-year highs as investors braced for the possibility of the first interest rate hike in the United States in almost a decade.
A late 5 percent surge in Chinese stocks had helped Asia's bourses finish more than 2 percent higher as early gains of 0.7 to 1.3 percent for London's FTSE, Frankfurt's DAX and Paris's CAC 40 got Europe of to a solid day too.
Markets remained in a state of flux on the likelihood of a rate increase by the Fed at its two-day meeting starting later in the day, and U.S. economic data published on Tuesday did little to either back, or douse, expectations of one.
Inflation data is due in both the U.S. and Europe and with both likely to show it remains barely visable in either region as it has for over a year now, that is unlikely to sway many opinions either.
All the uncertainty left the dollar in frozen animation against the world's other main currencies having rebounded from Monday's three-week low of 95.125 to stand at 95.600. But it is essentially staying within its well-worn range of the last few weeks.
The euro traded at $1.1261 while the dollar inched down fractionally against the yen to 120.27 yen.
"It's more a day for thinking about tomorrow," said Kit Juckes, head of currency strategy at Societe Generale in London.
"Positions are coming off rather than going on. We have seen the front end (short-dated U.S. government bond yields) rally but it hasn't really sent the dollar roaring."
Emerging market currencies remained under pressure near multi-year lows against the dollar amid worries that higher U.S. interest rates could lure away foreign investors again.
ROUBLE RALLY
However some of those hardest hit in recent months, like Russia's rouble, Turkey's lira and Mexico's peso made notable gains as traders squared up in case of any Fed related surprises.
The rouble was up almost 1.5 percent against the dollar and 1.7 percent against the euro.
Oil prices also helped as it extended gains made on Tuesday. Brent climbed more than 1 percent to $48.32 per barrel and U.S. crude hit $45.27, as an unexpected stockpile drawdown reported by the American Petroleum Institute (API) on Tuesday set expections for official crude inventory data later.
Gold was languishing near 1-mth lows ahead of the Fed meeting at $1,108 an ounce, though industrial metals including copper, nickel and tin made more minor gains as their slight recovery of the last few weeks continued.
China shares had provided a boost too, as they saw a strong rally in the last hour of trading to end up 5 percent. Hong Kong's Hang Seng index jumped in tandem to close 2.4 percent higher.
Bond markets were largely biding their time ahead of the Fed. U.S. Treasuries' yields sagged having jumped on Tuesday, with the policy-sensitive two-year yield rising to 0.815 percent, its highest level since April 2011.
It last traded at 0.7822 percent.
The 10-year U.S. notes' yield stood at 2.2616 percent, having risen to a 1-1/2-month high of 2.294 percent on Tuesday, while yields in benchmark European markets also dipped as the ECB stressed its openness to more money printing.
"The total amount that we have purchased represents 5.3 percent of the GDP (gross domestic product) of the euro area, whereas what the Fed has done represents almost 25 percent of the U.S. GDP, what the Bank of Japan has done represents 64 percent of the Japanese GDP and what the U.K. has done 21 percent of the UK’s GDP," Constancio told Reuters in an interview.
"So we are very far from what the major central banks have done," Constancio, 71, said. "This is not a benchmark ...(but) there is scope, if the necessity is there."
(Reporting by Marc Jones; editing by Ralph Boulton)
@YahooSG on Twitter

膄，旦