1.20

http://klse.i3investor.com/blogs/shaunloong_blog/102772.jsp

You are welcome. It will continue to fly.

If you are not a shareholder, don't talk rubbish here.

Write a comment..-REITs - Conveying Positives on the Proposals
Author: kltrader | Publish date: Tue, 23 Aug 2016, 11:06 AM

Highlights
We attended a panel discussion by the prominent REIT managers organized by Malaysian REIT Managers Association (MRMA) yesterday pertaining to the proposed revision of REITs guidelines with the following key takeaways.
Long Term Positive. The panellists are positive on the proposed greenfield development as it enables them to grow the DPU in the longer term within maturing REITs space and assure that there will be no short term DPU dilution as all the development costs (inclusive of financing charges) will be geared and capitalized.
Development Risks Mi tigated. They are confident that the associated risks will be well-mitigated given their management expertise and proven track records as well as via checks and balances within the proposals such as 15% threshold for development, 50% capping on gearing limit, 2 years holding period post development and stricter disclosures requirements.
Private Leases. Allowing private lease arrangement would provide more flexibility and open up more investment opportunities such as possibility of acquiring interest in Malay Reserve Land. On the flip-side, it increases the risk to the REIT in the event of contractual or ownership dispute.
Possible M&A activities? The provision of allowing the change of REIT manager by way of a resolution passed by a simple majority of unitholders voting at a general meeting may help to keep REIT manager on their toes but it also opens up possible M&A activities.
Property Management and Internal Management provisions allow REIT to further diversify their income by acquiring interest in the REIT managers as well as property management companies that manage the assets owned by the REITs and managed by same REIT managers with possible downside on potential conflict of interest.
Catalysts
Potential acquisition of quality assets to achieve growth as softer property outlook presents such opportunity.
Further improvement in sentiments and higher retail spending.
Venturing into potential high yielding development activities.
Regulatory intervention in limiting the supply for office/mall.
Risks
(1) Prolonged erosion in consumer sentiment; (2) Failure to execute the planned asset injections and strategy; (3) Significant slowdown in broad economic activities.
Ratings
OVERWEIGHT
Maintain OVERWEIGHT with limited downside risk given the accommodative monetary conditions, sustainable and attractive yield amid low global yield environment.
Top Picks
Maintain BUY on MQREIT (TP: RM1.34) given its high dividend and sustainable yield of ~7%.
Maintain BUY on PREIT (TP: RM1.95) banking on its income growth in FY17 post acquisitions and major reversion with DPU yield of 5.5% at current price.
Maintain BUY on KLCCSS (TP: RM8.35) given its projected DPU yield of 5.1% (vs targeted yield of 4.6%); stable asset and premier assets location.
Source: Hong Leong Investment Bank Research - 23 Aug 2016

AllianceDBS funds wanted to buy low lah.

Collection time before EPF stop selling.

http://www.theborneopost.com/2016/08/23/replenishpalm-oil-prices-may-rise-to-rm3000-per-tonne-next-year/

RainT: Read for yourself
Recently a big buyer from China visited their factory and obviously interested to buy. This is a new big market. They will be sending their 1st shipment in August.

I also asked how they could overcome the current labour shortage unlike other manufacturers. Besides their own factories, they have about 30 small subcontractors nearby. Most of them are making furniture parts which will be assembled, polished and painted by their own factories. Using subcontractors is the most efficient way to save cost and time. Lii Hen does not need to provide and maintain factory space. The subcontractors just extended their garages and work from there.

All these are reassuring us that they will continue to make increasing profit. Profit growth prospect is very good and it complies with my share selection golden rule.

At the AGM, I suggested to issue free warrants which is like giving aung pow to all the shareholders. I think the news is out as shown by the recent increase in volume and share price.

http://koonyewyin.com/2016/06/05/why-lii-hen-share-price-can-go-higher/

i also want to top up as next Q has more business from China orders. Just no bullet. need time to sell other stocks.

Congratulations to all shareholders. Another round of flying.

You should attend Padini AGM/EGM in future to get the vouchers.

Profit margin of about 28% for Q1 and now Q2 are consider high and well maintained.

Just my 2 cents. Now it is not the right time to buy/keep.

Dilution will take place. I had sole majority of mine. Wait for other time to enter.

Today EGM, the directors all arrived a few minutes late. All resolution approved. We will get bonus issues but 30% of total will be ESSOS for directors and employers from time to time.

No worries. Be happy.

MALAKOFF CORPORATION BERHAD - Earnings Lifted by Lower Tax Expenses
Date: 18/08/2016

Source : PUBLIC BANK
Stock : MALAKOF Price Target : 2.13 | Price Call : BUY
Last Price : 1.70 | Upside/Downside : +0.43 (25.29%)

Back

Malakoff reported a higher 2QFY16 revenue of RM1.5bn (17.8% YoY, 13.6% QoQ) mainly due to contribution from Tanjung Bin Energy (TBE) power plant which commenced operations on 21 March 2016. 1HFY16 revenue of RM2.9bn (8.6% YoY) was within our estimates at about 47.9%, but slightly below consensus at 44.5% of full year forecasts respectively. 2QFY15 net profit jumped to RM129.6m from RM86.3m recorded in the previous corresponding quarter (50.2% YoY, 54.1% QoQ) arising from lower effective tax rate of 9.9% (2QFY15: 38.0%, 1QFY16: 28.8%). 1HFY15 net profit of RM213.7m (12.4% YoY) accounted for 40.7% and 39.8% of our and consensus full year estimates respectively. We deem the results to be in line as we are expecting higher contribution from TBE in the next two quarters. The Group declared first interim single-tier dividend of 3.5sen. We maintain our earnings estimate for now pending further management’s guidance from analysts briefing today. Our Outperform call on Malakoff with a TP of RM2.13 is retained.

Higher revenue due to contribution from Tanjung Bin Energy (TBE). Revenue for 2QFY16 was higher at RM1.5bn compared to RM1.3bn recorded in the previous corresponding period mainly due to contribution from Tanjung Bin Energy (TBE) power plant. TBE achieved its commercial operation date on 21 March 2016. 1HFY16 revenue increased by 8.6% to RM2.9bn.

Earnings was lifted by lower tax expenses. 1HFY16 profit before tax declined 10.3% YoY to RM298.7m from RM333.1m as a result of: (i) higher cost of sales (14.7% YoY) owing to higher maintenance and depreciation costs, (ii) higher administrative expenses (15.8% YoY), (iii) increase in other operating expenses (17.8% YoY) as there was forex loss of RM14.1m in the period under review compared to a loss of RM0.1m in the previous corresponding period, (iii) higher finance cost (10.9% YoY), but mitigated by (i) insurance claim on rotor replacement, and (ii) lower losses of RM1.9m from associates, against losses of RM16.2m recorded in 1HFY15. Lower tax expenses in current quarter lifted 1HFY16 net profit to RM213.7m from RM190.2m in 1HFY15. 1HFY16 effective tax rate was lower at 18.8% (1HFY15: 34.3%) due to recognition of deferred tax assets on available capital allowances pursuant to TBE’s commencement of operations in 2QFY16.

Dividend. The Group declared a single-tier interim dividend of 3.5sen per share totalling RM175m and will be paid to registered shareholders as at 8 September 2016 on 4 October 2016.

Source: PublicInvest Research - 18 Aug 2016

Malakoff Corp - 2Q16 Disappointing; Hit By Expense-off For T4
Author: kiasutrader | Publish date: Thu, 18 Aug 2016, 09:20 AM

2Q16 results were somewhat disappointing owing to the interest expense-off for the new T4. Nonetheless, this is expected to be one-off and earnings are likely to pick up in the coming quarters as T4 is aligned to the system which availability at 73% in 2Q16. Meanwhile, losses at KEV had narrowed compared to last year, which is an encouraging sign. We keep our OUTPERFORM call unchanged for now pending an analysts’ briefing later today.

1H16 below expectations. At 27%/29% of house/street’s FY16 estimates, 1H16 core profit of RM155.7m came below expectations owing to: (i) higher interest due to the expense-off on the interest incurred during the construction of T4 which we estimated at RM35m-RM45m, and (ii) higherthan- expected depreciation charges, mainly on T4. The core profit for 1H16 included an RM58m insurance claim on rotor replacement. A first interim NDPS of 3.5 sen was declared in 1H16 (ex-date: 06 Sep; payment date: 04 Oct) which is higher than the 3.0 sen paid in 1H15.

Hit by expense-off for T4. Despite revenue rising 14% owing to the fullquarter contribution from T4, 2Q16 core profit fell 15% sequentially to RM71.6m from RM84.1m. This was due to: (i) higher interest expenses by RM81.9m or 43% which included both new T4’s interest expense and the expense-off mentioned above, (ii) higher depreciation charges by RM34.8m or 12%, (iii) share of associate earnings turning to loss of RM7.7m from profit of RM5.8m as KEV was loss-making, and (iv) higher maintenance cost. Nevertheless, the downside was cushioned by higher interest income and lower taxation. Meanwhile, based on the above, contribution from T4 was likely to be lower than expected partly due to the new plant’s availability was at 73%.

Same trend for YoY numbers. On a YoY comparison, 2Q16 core profit declined 17% from RM86.3m in 2Q15 although revenue leapt 18% compared to a year ago which was largely due to T4. The weaker set of results were attributed to the same reasons as mentioned above on higher depreciation charges, interest expense and maintenance cost. However, share of loss from associate income was reduced from RM26.3m in 2Q15 to RM7.7m. Similarly, 1H16 core profit contracted 18% to RM155.7m from RM190.2m in 1H15 although revenue rose 9%. All these were attributed to the same reasons mentioned above.

T4 to lead earnings growth from 3Q16 onwards. Although the weak results were attributed to T4, this new plant is expected to lead future growth from 3Q16 onwards as the interest expense-off incurred in 2Q16 is one-off. On the other hand, the operational issue at the 40%-owned associate KEV is unlikely to be resolved in the near-term, but it is expected to fare better in FY16 as opposed to FY15 on lower anticipated maintenance cost. For now, we keep our estimates unchanged with downside bias, pending an analysts’ briefing later today.

Keep OUTPERFORM for now. Although 1H16 results were disappointing, we believe MALAKOF’s earnings prospect remains intact as the hiccup in 2Q16 is likely to be one-off as the future earnings are backed by the longterm PPAs. Our OUTPERFORM rating and price target of RM1.97/share are maintained for now pending an analysts’ briefing today.

Risks to our call include unexpected plant outages and prolonged losses at KEV.

Source: Kenanga Research - 18 Aug 2016

MQ Research - reaffirms outperform call on Malakoff
Author: kltrader | Publish date: Thu, 18 Aug 2016, 10:55 AM

In a filing to the Bursa Malaysia yesterday, Malakoff Corporation (Malakoff) announced better financial results for 2Q16, as well as a better interim dividend payout, attributed to the earnings generated from Tanjung Bin Energy (TBE). Macquarie Equities Research (MQ Research) expects to see an even better performance for Malakoff’s 2H16 results and reaffirms an outperformance recommendation on Malakoff.

Investors who are bullish on Malakoff and keen to gain a leverage exposure to the independent water and power company may consider the below call warrant listed by Macquarie.

Event

Malakoff Corporation reported higher profitability in 2Q16 as a result of the first full quarter of earnings from Tanjung Bin Energy (TBE). 2Q16 YoY performance: Revenue +18%, EBITDA +21%, EBITDA margin +1.4ppt, adj profit of RM132m (+127%).
A higher interim dividend of 3.5 sen was declared (vs 2015 first interim dividend of 3 sen).

‌Impact

First read: earnings tracking ahead of expectations. 1H16 EBITDA of RM1,330m (+7% YoY) represents 47% and 49% of MQ Research and consensus FY16 estimates. Due to the commencement of TBE at end Mar 2016, MQ Research are expecting a stronger 2H16. Thus view the results tracking ahead of expectations. 2Q16 performance was partly boosted by an insurance claim on rotor replacement.
FCF for 1H16 remains positive, running at an annualised FCF yield of 5.2%. This however is tracking below MQ research’s expectations as its cash conversion cycle has lengthened to 113 days from 98 days as end Dec 2015. Receivables jumped 35% QoQ to RM2.2bn from RM1.6bn. Tapering capex is seen, as guided by management.
An analyst briefing will be held on Thu 10am (Malaysian time) to discuss these results further.

‌Action and recommendation

Outperform maintained.
Source: Macquarie Research - 18 Aug 2016

Outlook
Still positive about its prospects. We remain positive on
Sunway REIT (SunREIT). Its DPU remains attractive in the near
to medium term, following the completion of refurbishment
works for Sunway Putra assets (mall, office and hotel) and
full-year income contribution from Sunway Hotel
Georgetown. Furthermore, we expect further earnings
accretion from the asset enhancement work done on
Pyramid Tower East, slated to be completed by 3QFY17.
Visible sponsor asset pipeline. Sunway REIT’s sponsor and
shareholder (37% stake) Sunway Bhd has a large pipeline of
potential assets for injection under its “build-own-operate”
model. Future injections could include Sunway University
and Monash University campuses, The Pinnacle office tower,
Sunway Giza mall, Sunway VeloCity mall and Sunway
Pyramid Phase 3. These underpin an attractive growth
pipeline for the REIT. We are optimistic about potential
injections from sponsor Sunway Bhd to meet the REIT’s
RM7bn asset target by 2017.
http://klse.i3investor.com/servlets/ptres/37079.jsp

Yes, you could have done so if you knew. It can up, it can down. It can down, it can up.

http://www2.theedgemarkets.com/my/article/palm-rises-tight-supplies-track-third-gain-four

Sound logically. It is due to fair value.

http://www.theedgemarkets.com/my/article/sunway-reit-among-top-beneficiaries-pokemon-go-says-uob-kay-hian

Malaysian palm oil price records biggest gains in nearly a year

http://www.thestar.com.my/business/business-news/2016/08/16/palm-records-biggest-gains-in-nearly-a-year/

http://www.thestar.com.my/business/business-news/2016/08/16/malaysia-aims-to-be-among-top-20-trading-nations/

http://www.thestar.com.my/business/business-news/2016/08/16/malaysia-aims-to-be-among-top-20-trading-nations/

http://klse.i3investor.com/blogs/kianweiaritcles/102184.jsp

http://klse.i3investor.com/blogs/kianweiaritcles/102184.jsp

Congratulations to all shareholders especially moneySIFU who is so happy.

Most Banks (Maybank, CIMB, Ambank, AffinBank) are non-syariah compliant stocks. EPF has to sell them to reduce it and prepare cash for shariah-compliant stocks purchasing under New Syariah-compliant scheme for its members.

Before end of this month.

Past record 24 August, 2015. Around that date this month.

People are buying. It will rebound. Take it as correction period. Infra funds all pump into banks.

Once QR is good, you will never get it at this price.

Hold it tight. TP RM1.80 is reasonable with annual div 9.18 cents.

These people short selling. Must hold and let it go up. TP RM1.60 is reasonable.

Hold it tight tight!!!

http://klse.i3investor.com/blogs/kenangaresearch/101965.jsp

You are right. Tq.

Result is good. It will go up.

No record at all. Scam!

Check here:
http://www.malaysiastock.biz/Corporate-Infomation.aspx?type=A&value=A&source=M&securityCode=9148

It depends on how we look into it: Its new businesses are growing well while its printing businesses are deteriorating. But main business of TV channels is improving.

Can't find the historical record of the claim: (careful)
For instance, the company distribut-ed excess cash to its shareholders in 2010, via a capital repayment of 50 sen per share.

http://www.theedgemarkets.com/my/article/malaysias-june-industrial-output-53-year

http://www.theedgemarkets.com/my/article/malaysias-june-industrial-output-53-year

Uncles and Anties buy more.