Thursday, May 31, 2012



IPO Price: rm4.55 per share

Felda to seek RM10.2b in second IPO

Published: 2012/05/31

The Kuala Lumpur-based company is attempting this year’s second-biggest IPO after Facebook Inc. even as other Asian initial public offerings get pulled or trimmed amid adverse market conditions. Graff Diamonds Corp, the London-based jeweler, postponed a US$1 billion IPO in Hong Kong today.
Felda Global, a Malaysian palm oil and rubber producer, fixed a price range of between RM4 and RM4.65 a share yesterday, said the people who declined to be named as the information is private. It has signed up 12 so-called cornerstone investors, including local pension funds, to take up 19.8 percent of its enlarged share capital, according to a term sheet obtained by Bloomberg News today. Felda declined to comment in a statement.
“Investors are still optimistic about commodities globally,” said Scott Lim, who manages 380 million ringgit as chief executive officer of Kuala Lumpur-based MIDF Amanah Asset Management Bhd. “The stock is in high demand. It’s skewed by the fact that the amount that is going to be openly bid is actually quite small relative to the institutional size.”

Facebook Factor
The offering comes amid weakened global investor appetite for shares with concern that Greece will abandon Europe’s common currency erasing about US$3.9 trillion from global equities this month, according to data compiled by Bloomberg. Facebook has fallen 26 percent from its IPO price after raising US$16 billion this month.
“It’s probably unlikely to be a Facebook IPO,” Alan Richardson, who helps oversee about US$87 billion as a money manager at Samsung Asset Management in Singapore, said by phone. “I think it’ll be successful. Foreigners are finding it difficult to get allocation.”

China Yongda Automobiles Services Holdings Ltd. this week scrapped a share sale in Hong Kong, while Sany Heavy Industry Co. has trimmed its planned offering, people with knowledge of the matter said May 30.

Malaysian stocks have withstood the global selloff, with the FTSE Bursa Malaysia KLCI Index little changed so far this month compared with a 10 per cent drop in the MSCI Asia Pacific Index.
Larger IPOs
Kuala Lumpur-based Felda Global manages estates for the Federal Land Development Authority, a Malaysian government agency. It has about 355,864 hectares (878,984 acres) of plantations in Malaysia in addition to land in Indonesia. The company also has palm oil refining businesses in China, Indonesia, Turkey and South Africa, according to a draft prospectus issued April 26.

The offering follows calls by Malaysian Prime Minister Najib Razak for larger companies to list to attract global investors. At 10.2 billion ringgit, this would be the Southeast Asian nation’s biggest share sale since Petronas Chemicals Group Bhd raised a record RM12.8 billion in 2010, according to data compiled by Bloomberg.

The IPO comprises 2.19 billion shares, according to the listing document. Najib is scheduled to officially unveil its prospectus today.

Louis Dreyfus Holding BV, a Dutch commodities group, agreed to pay about US$150 million for a 2.5 per cent stake in Felda Global ahead of the share sale, two people with knowledge of the matter said on May 15.

Cornerstone Investors

Some 723.5 million shares will be distributed to cornerstone investors who must hold them for at least 180 days, according to the term-sheet.

Fidelity Investments and Value Partners Group Ltd are among foreign investors to be allotted shares. Lembaga Tabung Haji, Employees Provident Fund and Permodalan Nasional Bhd. will be among local investors along with Hong Leong Foundation and the Guoco Group, the statement said.
Felda Global plans to use RM2.2 billion of the proceeds to buy plantation assets, according to a sale document published in the Star newspaper today. The company intends to invest another RM840 million on oil and fats, manufacturing and logistics businesses, and 780 million ringgit on building and acquiring mills and refineries, it said.

The company boosted profit 1 percent to RM942.2 million last year, according to its preliminary prospectus. Sales advanced 29 percent to RM7.5 billion. Felda Global plans to pay half of its profit as dividend, the document shows.

CIMB Investment Bank Bhd., Maybank Investment Bank Bhd. and Morgan Stanley are managing the offering, according to the draft prospectus. JPMorgan Chase & Co. and Deutsche Bank AG are also involved. - Bloomberg

Felda Global Ventures Holdings Bhd may raise as much as RM10.2 billion (US$3.2 billion) in an initial public offering in Kuala Lumpur, two people with knowledge of the matter said.

Tuesday, May 29, 2012

KPJ Healthcare to invest RM1b in new hospitals

chart from HwangDBS--------------- a recent visit to my old favourite look and prove interesting to ponder.

The principal activities of the Company are investment holding and provision of management services to subsidiary companies. The principal activities of the ...

KPJ Healthcare to invest RM1b in new hospitals

By Choong En Han
KUALA LUMPUR: KPJ Healthcare Bhd plans to invest more than RM1bil as it has identified nine locations in the country for new hospitals
Its managing director Datin Paduka Siti Sa'adiah Sheikh Bakir said on Tuesday the investment was to widen its healthcare services and market reach to the community
"We believe that the way forward for KPJ is through network expansion, capacity growth and improvement in terms of quality of service and range of healthcare facilities," she said at the Invest Malaysia.

"These nine confirmed projects as well as others to come will serve to strengthen KPJ's position in the market as a leading healthcare player in Malaysia," she added.

Wednesday, May 23, 2012


walao, early early morning just before I start work, receiving this kind of spam email is really really depressing,.Cursing me died of lung cancer? and still want to lure me to part with my money?WTF!

Mark Allen, Senior Regional Representative

International Monetary Fund
37C Zielna, 00-108 Warszawa,Poland
Europe Tel: +447035940287,+4822338 6750
Treat Urgent,
A power of attorney was forwarded to our office this morning by two gentlemen, one of them is an American national and he is Mr David Deane by name while the other person is Mr Jack Morgan by name a Canadian national. This gentlemen claimed to be your representatives, and this power of attorney stated that you are dead, they brought an account to replace your information's in other to claim your fund of $6.5 Million which it is right now lying Dormant and Unclaimed, below is the new account they have submitted:
Chase bank: 234 Church St. New Haven/CT 06510 USA
Tel: +1-203-784-3702,
Fax: +1-203-784-3717
Name: David Deane Jr.
Account.#2976934238 (mm)
Rout: 021000021
Swift: CHASUS33
Be further informed that this power of attorney also stated that you suffered and died of a Lung cancer. You are therefore given 5 working days to Confirm the truth in this information, If you are still alive, You are to Contact us back immediately, Because we work 24 hrs just to ensure that we Monitor all the Activities going on in regards to the transfer of beneficiaries Inheritance and contract payment.
You are to call this office +447035940287 immediately for clarifications on this matter As we shall be available 24 Hrs to speak with you and give you the Necessary guidelines on how to ensure that your payment is wired to you Immediately.Just also be informed that any further delay from your side could be dangerous, as we would not be held responsible of wrong payment.

Thank you.

Luiz Babou
International Monetary Fund Office
Paris Office
64-66, Avenue d’lena
75116 Paris, France
Tel: (33-1) 40 69 30 71
Fax: (33-1) 47 23 40 80

Tuesday, May 22, 2012


From HLB research

Gas Malaysia

Stable Cash with Net Cash Position

§ Gas Malaysia (GMB) is one of the only two natural gas (NG) supplier in Peninsular Malaysia (the other is Petronas Gas).

§ GMB will cover new market with initial demand of < 5mmscfd (previously 2mmscfd), giving more upside to GMB market share. GMB is effectively monopolizing this market segment with no direct competitor.

§ GMB Margin is under government's discretion.

§ The demand for NG is likely to stay robust given its relative advantages and government' initiatives to meet low emission target by 2020.

§ GMB had signed agreement with PGB to increase NG supply to 492mmscfd by 2015 (currently 382mmscfd) on a step up basis, in order to meet the increasing demand.

§ Stable earnings and cash flow, ensuring stable dividend payout. GMB will payout at least 75% of earnings, which translate into 4-5% net dividend yield.

§ We believe the fair value for GMB is RM2.55 based on 22x FY13 P/E and 3.4x FY13 P/B.

But I will not be subscribing for the IPO, will the uncertainty of the world market and the coming Malaysia
's election results, it is better wait and see.

Saturday, May 19, 2012

Wall St Week Ahead: The market is oversold, but major signs say "sell"

Wall St Week Ahead: The market is oversold, but major signs say "sell"

NEW YORK (Reuters) - Normally a big decline would set up Wall Street for a technical rebound. But that may not be the case next week, even after the market posted its worst weekly loss for the year and the S&P fell for six straight sessions.
With the corporate earnings season drawing to an end and recent U.S. economic data raising doubts about the pace of growth, the S&P 500, which is down 7.3 percent so far in May, could decline further next week as concerns about the financial health of Europe persist.
"What has changed in the world since April' We went from hearing a constant refrain that the world is awash in money and markets must go higher to hearing nobody wants to take any risk. ... All in a week," said Peter Cecchini, global head of institutional equity derivatives at Cantor Fitzgerald & Co in New York.

Full text

Thursday, May 17, 2012

Can this dead cat bounce back

Can this dead cat bounce back ?
I doubt ! I doubt !
As a small fish and "unwanted","unexciting " , unplanned "longlonglong...................." term investor,
I better have a good night sleep and stay away as long as I or you can.

Tuesday, May 15, 2012

No election(not yet ) and the blue chips drop...

DLADY 32.30 71 -0.500

BKAWAN 18.30 403 -0.380

KLK 22.90 2,086 -0.300

SHELL 9.70 120 -0.300

NESTLE 54.60 33 -0.280

CARLSBG 10.54 1,165 -0.260

JTIASA 8.58 1,198 -0.260

TWS 9.52 2 -0.240

TSTORE 2.07 1 -0.230

TAANN 6.07 1,026 -0.230

No annoucement for the coming election and the blue chips drop like hell ............
anyone dare to catch the falling knife for a quick rebound or another slow death.....

Saturday, May 12, 2012

Election Coming !

Show of strength Umno members listening to party president Datuk Seri Najib Tun Razak (right) during the 66th anniversary celebration at the National Stadium in Bukit Jalil, Kuala Lumpur, yesterday. During the event, party leaders pledged to continue to champion the Malays and defend Islam.
so election will be called soon!!!!
Just a Prediction!
Parliament dissolving May 14 2012
Naming of Candidate 26 May
Election day 8 or 9 June

Friday, May 11, 2012



财经天下 2012-05-11 17:49



Tuesday, May 1, 2012

Bersih 3.0: Najib the biggest loser — Koon Yew Yin
Najib the biggest loser from Bersih 3.0 by Koon Yew Yin

The Bersih 3.0 rally at Dataran Merdeka has thankfully passed without any major outbreaks of violence but there are recorded scenes which show how it could have so easily gone the other way.
A report by Aljazeera showed bloodied demonstrators and the unwarranted use of teargas and water cannons on sections of the crowd.
According to Harry Fawcett, the Aljazeera correspondent covering the event, the police were extremely heavy handed, kneeing and slapping some of the demonstrators who had broken through the barricades.
The police also busted the station’s television camera in an attempt to prevent their violent and unlawful acts from being filmed. The police also had the temerity to threaten and act harshly towards the reporters.
Forced to improvise by using Skype, Fawcett was still able to show ugly images of the country’s police and authorities which have been broadcast all over the world as well as uploaded on You Tube.
In an analysis of the aftermath, our respect and congratulations must go to the Bersih participants that congregated in Kuala Lumpur as well as in other major cities. The estimated 100,000 crowd were remarkably well behaved and acted with decorum and good sense.
It is a tribute to the political maturity of the enormous crowd converging on Dataran Merdeka from all over the country and of their commitment to peaceful political reform that they did not allow themselves to be provoked.
Despite all the official threats and coercion, despite the roadblocks placed to prevent them from reaching the venue of the rally, they still kept their cool. They showed the Barisan government and other Malaysians that they are made of sterner stuff and that they will not give in meekly to crude authoritarian intimidation.
Only one episode marred the conduct of the protesters. Footage from the police website shows a police car being overturned while a video clip on You Tube from a bystander showed the vehicle going out of control and hitting the kerb (see video).

There are conflicting accounts of this incident but you can expect the police to milk public sympathy based on this portrayal of protestor violence.

In the next few days, the government and Bersih as well as the opposition will claim success in achieving their objectives with regard to the outcome of the rally. The government will no doubt crow through the official mass media as to why they have won an important victory.

Already the police are claiming that it was the demonstrators who were responsible for the violence that took place although unofficial reports indicate that more than 60 demonstrators were beaten up.

The demonstrators have their side of the story. According to one of them in reference to the breaching of the barricades at Dataran Merdeka: “Hello PDRM don’t come and give us this crap OK! You guys partially opened the barriers making us think that we could go in, and without warning you started your tear-gassing. Worse still you ordered all the [LRT] stations to close their shutters preventing us from getting back.”
Whichever way the story is spun it is clear that the biggest loser is Prime Minister Najib Razak.

Where was the prime minister when all of this was taking place? He was in Kuching. Did he not care about what was happening in Kuala Lumpur? Apparently not.

In fact, the Prime Minister was an invisible man not only on April 28 but also throughout the entire week of official posturing on the rejection of the Bersih venue in the run-up to the rally. Hiding behind the sarong of the city mayor, Ahmad Fuad, the prime minister was guilty of an official conspiracy to have the Dataran Merdeka designated as a security site to prevent Bersih from gathering there, and therefore heightening the official rhetoric to deny and intimidate the protestors.

An activist was quoted as saying on the eve of the rally: “We appeal to the good sense and stewardship of the prime minister – as prime minister of the country, and not just of Barisan Nasional … the prime minister has the authority to overrule DBKL (Dewan Bandaraya Kuala Lumpur) and the police. All he has to do is make a phone call and allow Bersih to go on at Dataran Merdeka.”

That phone call not only did not materialize but the prime minister seems to have put his tail between his legs and headed out of the capital during a time of crisis.

What Najib should have done
Najib should not only have permitted the use of Dataran Merdeka but he should have facilitated his fellow Malaysians to attend the gathering there.

If he had any political acumen he should have instructed the various agencies of government to facilitate the rally by arranging for mobile toilets, Red Crescent assistance for the old and infirm (many thousands of elderly took part, some in wheel chairs!) and provided nasi bungkus (through his 1Malaysia Foundation) for the many poor who could ill afford to eat at the stalls.
He could have unclogged the roads and saved everyone the traffic mess caused by the police barring entry to the square.

He should have also offered to make a speech at the gathering – standing side by side with the Bersih and other rally leaders – to explain his agenda of democratic and electoral reform.

That way, he could have burnished his image in Malaysia and around the world as a reformist leader. He also would have scored political points which could have tilted the coming elections in his favour.

Instead he made a monumental political boo boo which is likely to seal his fate as the last Barisan Nasional prime minister of the country.

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