Posted by 8u29song > 2017-05-26 09:22 | Report Abuse

Removed from Shariah index ???

Posted by waihung82 > 2017-05-26 09:22 | Report Abuse

suddenly kena removed?

Posted by chlin00 > 2017-05-26 09:31 | Report Abuse

http://www.theedgemarkets.com/article/ann-joo-yinson-and-21-others-added-scs-shariahcompliant-list

The 13 securities that were excluded from the Shariah-compliant list were APB Resources Bhd, GD Express Carrier Bhd, Golden Land Bhd, Jerasia Capital Bhd, Kim Teck Cheong Consolidated Bhd, Lion Diversified Holdings Bhd, NetX Holdings Bhd, PA Resources Bhd, PLB Engineering Bhd, Plenitude Bhd, Prolexus Bhd, Rexit Bhd and YFG Bhd.

Posted by Yipman > 2017-05-26 09:40 | Report Abuse

So what is the disvantages? EPF sell down all the shares? Lol

Posted by isupertrader > 2017-05-26 09:48 | Report Abuse

Nothing la, maybe just not syariah compliance. Take opportunity to stock up when price offers at discount

Posted by waihung82 > 2017-05-26 09:50 | Report Abuse

hopefully just temporary shake off...fundamental still intact, no syariah, they also have to operate like usual

Posted by nikicheong > 2017-05-26 10:01 | Report Abuse

Muslims can't buy this stock anymore. Islamic funds have to dispose ASAP due to regs

Posted by isupertrader > 2017-05-26 10:08 | Report Abuse

Fundamental is good so when wait till it hits low then average out further. Just hold this for at least 6 months. One man's poison is another man's food.

Posted by sctan > 2017-05-26 10:27 | Report Abuse

when prolexus is not syariah compliance, some govt fund will not invest on it.

Posted by 8u29song > 2017-05-26 10:45 | Report Abuse

then...Genting, Carlsberg in danger or not ?????

Posted by waihung82 > 2017-05-26 10:47 | Report Abuse

memang macam macam rules...how to earn money like this....

Posted by 8u29song > 2017-05-26 10:48 | Report Abuse

Govt fund ?........gomen still has funds ??? oh yes, they invest in FGV, proton, kinsteel............

Posted by waihung82 > 2017-05-26 10:58 | Report Abuse

lol....so sarcastic....FGV, proton....but true...

Posted by lkwah86 > 2017-05-26 11:16 | Report Abuse

FA remains... will come back when regain the syariah compliance

Posted by Sharewanderer > 2017-05-26 11:16 | Report Abuse

Come on guys, this is a good chance to increase your stock amount & Without affecting the financial performance of the company, the company's share price will soon pick up cuz the recent dropping on share price is primarily attributable to the huge and urge of selling amount from the syariah compliance securities.

Posted by Js Goh > 2017-05-26 11:34 | Report Abuse

EPF owned 12 millions, then they sold 1 millions, everyone panic dy. I think they sold at the right time just before ESOS issue.

Posted by sl3ge > 2017-05-26 11:39 | Report Abuse

but epf no need invest in syariah compliance counter right?

Posted by Js Goh > 2017-05-26 11:39 | Report Abuse

Not sure ESOS has anything to do with the removal or not.

Posted by tesoon > 2017-05-26 12:04 | Report Abuse

top up @ 1.50 , hope wont up car

Posted by Js Goh > 2017-05-26 12:07 | Report Abuse

I don't think EPF is obligated to buy only syariah compliant stock unlike Tabung Haji

Posted by isupertrader > 2017-05-26 12:31 | Report Abuse

This is not a correction, it's just some big player dumping in either to rebalance their portfolio. At 1.53 it is dirt cheap and someone out there is snapping up until it shot back up. Short term target is 1.77.

Posted by isupertrader > 2017-05-26 12:33 | Report Abuse

Speaking of Genting and carlberg, they will always do well irregardless syariah or not. It's because it's beer and gambling, two of the foremost most addicting products in the world. Lol

Posted by isupertrader > 2017-05-26 12:39 | Report Abuse

Prlexus management is pretty good, I have worked out the math that if you hold it for 5 years....it's going to give you +/- 173% in capital gain plus dividends.

Posted by nikicheong > 2017-05-26 12:42 | Report Abuse

Damn, why I always miss out. I wanted in at 1.50!

Posted by nikicheong > 2017-05-26 12:42 | Report Abuse

I hope some more funds dump after lunch or next week. Can't be this is all.

Posted by waihung82 > 2017-05-26 12:45 | Report Abuse

Can try to wait at 1.54 or 1.51

Posted by Js Goh > 2017-05-26 12:45 | Report Abuse

EPF need to give 5% per annum so fast take profit dy

Posted by Js Goh > 2017-05-26 12:45 | Report Abuse

Lol

Posted by waihung82 > 2017-05-26 12:47 | Report Abuse

EPF mia 5%...lesser than the 6% GST...lol

Posted by tealeaf > 2017-05-26 12:47 | Report Abuse

jz top up some....good entry for today drop

Posted by nikicheong > 2017-05-26 13:59 | Report Abuse

Investors with Shariah mandate are given 6 months from today to dispose of Shariah non-compliant securities provided the market price of such securities exceeds or equal to the investment cost. On the other hand, investors are allowed to hold their investment in newly reclassified Shariah non-compliant securities if the market price is below investment cost.

Posted by Tai KT > 2017-05-26 14:01 | Report Abuse

the dip just too short, otherwuse I may able to buy some at cheap

Posted by SuperLaber > 2017-05-26 14:48 | Report Abuse

Meaning that in the future 6 months, EPF would have millions of shares to be dump to the market?

Posted by Js Goh > 2017-05-26 15:01 | Report Abuse

https://www.sc.com.my/wp-content/uploads/eng/html/icm/sas/sc_syariahcompliant_170526.pdf

Posted by Js Goh > 2017-05-26 15:14 | Report Abuse

EPF will dispose share that was subscribed with EPF Shariah Fund.

Posted by nikicheong > 2017-05-26 15:18 | Report Abuse

It looks like until all Islamic Funds have stopped offloading, the price will be depressed. It likely won't spike down anymore, but might be depressed to ~RM1.50 for the next half year unless there is a strong re-rating catalyst. As you see by the volume today, it is likely those who sold off are traders that got spooked. No major fund has offloaded yet. They have six months to offload.

Posted by Js Goh > 2017-05-26 15:33 | Report Abuse

normal la, look at yinson got kicked out of Shariah compliance in November 27 2016, got back in today. stock still go up =D be positive.

Posted by Toto2009 > 2017-05-26 15:47 | Report Abuse

Nikicheong so have you buy at 1.5?

Posted by nikicheong > 2017-05-26 15:52 | Report Abuse

No i missed it

Posted by Toto2009 > 2017-05-26 22:32 | Report Abuse

I think fundamentals of this counter still very good, let's wait next week to monitor the trend

Posted by isupertrader > 2017-05-27 21:11 | Report Abuse

PRLEXUS is 3 mths returns is intact with expected 11.5% returns. Trailing PE maintain at 11.5. With strong fundamentals intact, annual projects earning with fair projection at 403m for 2017 and 449m for 2018. At such, at present price given is recommended strong buy with next target price at RM1.84.

Posted by FairyTail > 2017-05-28 14:10 | Report Abuse

I'm scratching my head why Prlexus was non-Shariah compliant.

Shariah screening methodology:
https://www.sc.com.my/frequently-asked-questions-on-revised-shariah-screening-methodology/

Was it because Prlexus has excessive cash over total asset?

[Financial Ratio Benchmark]
Cash over total asset
= 123/303
= 40.59%

Debt over total asset
= 26.18/303
= 8.64%

***Shariah Benchmark: < 33%***

Posted by Toto2009 > 2017-05-28 15:47 | Report Abuse

FairyTail, your analysis make sense. Don't worry, Prolexus fundamentals still there. Monitor coming weeks market trend. It will have its support level.

Posted by Tai KT > 2017-05-28 16:01 | Report Abuse

yes, too much cash did not comply with shariah, shariah fund throw, smart investor collect.

Posted by FairyTail > 2017-05-28 16:12 | Report Abuse

Toto2009, i just checked other net cash company and they're still Shariah compliant. Therefore Prlexus delisted from Shariah not because of excessive cash over total asset.

Yes agree, fundamental is healthy.

Posted by Tai KT > 2017-05-28 16:23 | Report Abuse

amount of cash can be on of the reason, last year Oldtown also removed from shariah due to too much cash. No sure this is same reason not, I will said it is possible.

Posted by Toto2009 > 2017-05-28 16:50 | Report Abuse

FairyTail and Tai KT, actually it depends how you view this, some view as threat some view as chances. I view as chances as price coming down again for this good growth counter. Wait it stabilize then capture more. This counter is mid term plan. My 2 cents

Posted by FairyTail > 2017-05-28 17:38 | Report Abuse

I've no idea what is Shariah-compliant requirements in the past, and never care of it. After readings on Google, it's right that excessive cash is non-Shariah-compliant - Shariah encourage management to distribute excess cash to shareholders or invest in productive investment. Shariah is social-friendly. Some region can accept 70% excess cash over total asset, but Malaysia is subject to 30%to sustain as high quality global Islamic financial center, new input learnt.

Fundamental remain intact, I will continue to hold and top up when opportunity arise. Thanks Toto2009 & Tan KT.

Posted by FairyTail > 2017-05-28 17:52 | Report Abuse

Prlexus management can consider increase dividend payout.

Posted by Toto2009 > 2017-05-28 18:45 | Report Abuse

You are welcome FairyTail, if Prlexus want to back into Syariah compliant then should consider dividend payout increased