PANAMY (3719) – 10 Key Takeaways From PANAMY’s 2017 AGM

September 19th, 2017

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September 19th, 2017

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CIMB Research raises Berjaya Food target cost to RM1.67

September 19th, 2017
KUALA LUMPUR: CIMB Equities Research has raised its objective cost for Berjaya Food
to RM1.67 from RM1.38 as it moves over its valuation base year to CY19F. Its last exchanged cost was RM1.53. 
It said on Monday BFood detailed center net benefit of RM5.3mil in the main quarter finished July 31, 2017 (1QFY4/18), which was in line at 23% of its and 22% of market’s entire year estimates. 
“The potential transfer of its Kenny Rogers Roasters (KRR) Indonesia operations may prompt a profit elevate of c.10%/12% for FY18/19F,” it said. 
It updated the stock to a Hold and included it would turn more positive on the stock in the event that it was fruitful in arranging KRR Indonesian resources as it will support future income. 
BFood revealed that 1QFY4/18 turnover expanded 9.2% on-year to RM154.4mil while center net income rose 6.7% on-year to RM5.3mil. 
Deals development was generally because of a superior appearing from Starbucks Malaysia (+ three net new stores year-to-date) and KRR Malaysia which balance the shortcoming from KRR Indonesia and Jollibean. 
“This prompted an on-year change in the gathering’s income. The gathering likewise pronounced a first interval DPS of one sen (versus 1QFY17: 0.5 sen), which was in accordance with desires,” it said. 
CIMB Research said consecutively, the organization’s turnover enhanced 2% on-quarter because of better execution from its Malaysia and Indonesia KRR operations and additionally from Starbucks. 
Pre-charge benefit jumped over 100% on-quarter to RM8.8mil on the back of higher income and a low base impact where 4Q was beforehand affected by a higher-than-normal record of settled resources on the back of the conclusion of non-productive KRR stores in Indonesia and Malaysia. 
The gathering shut two KRR Indonesia stores, conveying absolute store tally to 14. 
Same-store-deals development (SSSG) for Starbucks stayed sound at +2.2% on-year while its KRR operations in both Malaysia and Indonesia revealed SSSG of +1.5% and – 12% on-year, individually. 
“The gathering will proceed with its procedure of opening 25-30 new stores a year, which should support its profit going ahead. 
“With respect to its KRR Malaysia operations, it will keep on being particular in its new store openings and will keep on introducing different activities to pivot the operations in FY18. 
“We gauge if KRR Indonesia is effectively stripped, this could spell a potential lift of 10%/12% to our FY18/19F EPS (notwithstanding any benefits),” said CIMB Research. 

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Daya Materials, Accsoft Tech, BCorp, BFood, DRB-Hicom, Kimlun, Omesti, AirAsia, Hibiscus and Scomi Group

September 18th, 2017
KUALA LUMPUR (Sept 15): Based on corporate announcements and news flow today, stocks in focus on Monday (Sept 18) may include: Daya Materials, Accsoft Technology, Berjaya Corp, Berjaya Food, DRB-Hicom, Kimlun, Omesti, AirAsia, Hibiscus and Scomi Group.

Daya Materials Bhd has entered into an early agreement with MIMOS Semiconductor Sdn Bhd (MSSB) to work together to provide a crowd management and passenger system for rail as well as non-rail systems.

Daya said its subsidiary, Daya Oci Sdn Bhd, had inked a memorandum of understanding with MSSB to collaborate in certain areas of technology, which includes but is not limited to the crowd management and passenger system.

The system comprises, among others, information technology data transfer, security information capabilities, monitoring, management and recording of mass people and materials movement. It can be applied in rail or non-rail systems such as port entry and stadiums.

IT specialist Accsoft Technology Bhd is looking to work together with a local firm that assembles and trades motorcycles to exploit market potential in relation to last mile delivery in the e-commerce industry.

It said it has inked a MoU with Malaysian Formula Bikes Sdn Bhd for the proposed collaboration.

Berjaya Corporation Bhd is disposing of its entire 100% equity interest in China-based Berjaya Green Resources Environmental Engineering (Foshan) Co Ltd (BGREE) for 78.5 million renminbi (RM50.87 million).

Berjaya Corp said the disposal to Foshan Water & Environmental Investment Co Ltd (FWEI) is an opportunity for the group to realise its investment in BGREE to be used for the group’s working capital.

The group said the agreed sale amount was based on the enterprise value of BGREE of about 167.9 million renminbi after taking into consideration the valuation of the business, earnings potential and future prospects of BGREE as well as after adjusting for the debts and cash of BGREE.

Meanwhile, Berjaya Food Bhd said net profit for the first quarter ended July 31, 2017 (1QFY18) rose 7% to RM5.34 million from RM5 million last year, mainly due to having more cafes in operation.

Earnings per share grew to 1.43 sen per share from 1.32 sen per share. Quarterly revenue rose 9% year-on-year to RM154.39 million from RM141.37 million.

It also declared a first interim dividend of 1 sen in respect of its FY18 ending April 30 next year, payable on Oct 27.

DRB-Hicom Bhd said its partner Zhejiang Geely Holding Group will be nominating a suitable candidate to take on the role of chief executive officer at Perusahaan Otomobil Nasional Sdn Bhd (PONSB), the production arm of Proton Holdings Bhd.

DRB-Hicom said the nomination for PONSB’s CEO is part of its definitive deal with Geely, in which Geely is committed to not only hold an investment in Proton but also to lend its expertise in production, manufacturing, operations and marketing, “namely PONSB”, said DRB-Hicom in a statement.

The announcement came amid speculation that Proton would be getting a new CEO from China, with former Dongfeng Honda Engine Co Ltd deputy general manager Li Chunrong, who has joined the senior management of Geely, tipped to oversee Proton’s operations.

Kimlun Corp Bhd has bagged a RM214.76 million contract from Hillcrest Gardens Sdn Bhd to build two blocks of condominiums and ancillary buildings in Puchong, Selangor.

Kimlun said today that its wholly-owned subsidiary Kimlun Sdn Bhd had accepted the letter of award from Hillcrest Gardens for proposed project.

Omesti Bhd is looking to raise its recurring income contribution to more than 50% of its total revenue within two to three years, mainly through longer term collaborations with existing clients.

The recurring income segment contributed about 20% to its FY17 topline.

Low-cost carrier AirAsia Bhd has launched its inaugural flight from Kuala Lumpur to Nha Trang, Vietnam.

The arrival of flight AK204 at 11.35am marked its successful maiden entry into Cam Ranh International Airport, Nha Trang.

AirAsia head of commercial Spencer Lee said Vietnam is a key market for AirAsia.

Hibiscus Petroleum Bhd has been granted major project status for the West Seahorse Project in Australia.

Australian Manufacturing, an online portal specialising in manufacturing-related news, reported on Sept 8 that Australian Minister for Industry, Innovation and Science Arthur Sinodinos confirmed that the Federal Government had renewed its major project status to the West Seahorse Project, which is located in the Gippsland Basin, off the coast of Victoria.

The project is undertaken by Hibiscus Petroleum unit Carnarvon Hibiscus Pty Ltd.

Located 14km from Ninety Mile Beach, the West Seahorse Project aims to develop an important oil reservoir which is estimated to hold recoverable oil reserves of about 9.2 million barrels.

Scomi Group Bhd has received approval from the Securities Commission Malaysia to issue new shares to its directors, major shareholders or related parties without having to obtain approval from shareholders.

Scomi said the approval for the special exemption was related to its earlier proposal to consolidate its business via a three-way merger with its two subsidiaries, Scomi Engineering Bhd and Scomi Energy Services Bhd.

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Giant RM1 Promotion oh Giant RM1 Promotion

September 18th, 2017

This Giant sipeh pandai, Buy 2nd one is RM 1.

So if let say you buy Rejoice RM 11 for 1st one, 2nd one is RM 1.

Total is RM 12, each one will cost you 12/2 which is RM 6. Worth It???

I bought EVERSOFT for Purchase With Purchase above RM 20.

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Shop Back oh Shop Back

September 18th, 2017

Everyone should register this shop back.

Hurry Hurry Hurry….


See how much I earn from the cash back:

Wait no more.

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September 17th, 2017
(上周曾有雪友问,我的操作策略是否来自于@sosme 老师的"动态再平衡"策略?我回答说其实是学习胡立阳的"农夫播种术",正是受其启发,我逐步形成一套简便易行而又效果明显的操作策略,获益匪浅。在此,摘引大河网上的相关报道,有兴趣的朋友可以仔细琢磨一下,其介绍的几种方法看似粗浅,实则可透视股市的内在规律。)



















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Malaysia Day

September 17th, 2017

Happy Malaysia Day

Brought the kids to play ..jump and climb. It is RM46 each for 3 hours.

here is the link

As I m focusing more into my trading these days, I have done many trades in the two weeks. The aim is to profit RM200 – RM400 per day.

Then, slowly I will quit my tuition classes (tho I still like teaching Maths!!) and have my own room … my trading room (facing nice sea view).

Yes … I m going to be full-time , finally. A dream that I have planned since the beginning years of my trading adventure.

I will so focus in my learning and trades … my way (if you wish to join me in my trading group … and plan to be a trader, or u r a trader … contact me)

By being honest in our trades, we could IMPROVE in our trades … gain knowledge and experiences. It is very important to analyse our trades done during weekend.

4. Grade yourself against others

“I started posting my daily P&L on Twitter in mid-2016 as a way to objectively document my progress and connect with traders who may be at a similar level,” Park said. “I believe this has helped me progress tremendously and would like to continue learning from traders of all different skill levels.”


Yes … I traded LIVE with my trading group for years now … and now I m trading much better as I m more experienced now. Doing very well .. will help members too. So, I recording all my DONE trades in my new blog :

Trading workshop (cohort 26) : planning end of this month … and teaching trading. Anyone interested, contact me too.

Will continue to focus in my next week trades.

Have a nice weekend and Malaysia Day.


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股市继续朝正面发展 – 逆风

September 16th, 2017

从上面两个图,我们不难发现美国股市的韧性是很好的。每次 当它调整到了超卖时,总是会反转向上。这次的反转向上甚至还突破了历史新高。但是,我必须强调,目前美国股市已是相当的成熟和饱和,任何对它大幅向上的期 望是不切实际的。美国目前股市得以维持在高点是建立在有利与正确的人为政策下。将来要是处于无奈而必须出台一些对股市与投资不利的政策时,股市就会面临真 正的危机。


从上面两个图,我们也不难发现,吉隆坡综合指数已经突破了 之前所说的阻力点 1782,本周收市在 1786.33,最高还一度做到 1793.22。也许短期内,隆股还会在窄幅内波动,继续巩固,但是整体而言,股市前景是正面的,是向上的。这是因为隆股处于月线图的起跑点,是处于牛市 的初升阶段。

比较了美国和大马股市,我们会发现很有趣的一点,就是一个 已处于成熟饱和点,另一个正处于牛市初升期。这两个完全不同的市场阶段最后如何配合和协调呢?一个可能是不久后美国股市就会大崩盘,然后引领全世界股市走 向熊市。但是就技术图来看,这种可能性我认为不大(当然需不时留意两方技术图以防有突发事件的影响)。考虑了各方的经济情况后,最有可能的趋势是美国股市 继续在饱和区巩固和等待,然后外资进入大马股市,大力拉升隆股指数,使到隆股在很短的时间内步入牛市的饱和点。那么,到时大马股市就能与美国股市同步,一 起进入股市巅峰而后崩盘。

最后,顺带记录自己的组合表现。YTD, 我的组合回酬与综合指数同步,继续有进展,到这个月中,录得 48.28%的正回酬,比上月底的 +38.66%好;吉隆坡综合指数则录得 8.81%的正回酬,比上个月底的 +8.01%好。


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Steel roaring back in earnings

September 16th, 2017
Cut in China’s steel capacity does not necessarily translate to lower production

Salient points:

> Local steel companies benefit from China policy to cut output.

> But China production could still rise.

> Local players protected by safeguard duties on imports.

THE local steel industry is back in vogue.

A number of steel producers have reported strong earnings from higher steel prices, although some are still in the doldrums. The steel industry has been in a slump the last five years, beleaguered from the oversupply of steel products especially from China.

But things are turning the other way now. Since last year China has sought to reduce its steel production capacity as a means to reduce the glut and reduce pollution there. The effects are being felt here now. Among the local steel players which have recorded big gains in their earnings are Ann Joo Resources Bhd , Southern Steel Bhd and Hiap Teck Venture Bhd .

Southern Steel, for example, returned to the black in its financial year ended June 30. It reported a profit of RM93.3mil for FY2017 versus a loss of RM221.15mil for FY2016.

Hiap Teck, meanwhile, enjoyed a tripling of its profits to RM32mil for its third quarter ended April 30 from a year before.

The stock prices of these companies have also done very well. Since the beginning of the year, Ann Joo’s stock gained 77.4% to RM3.68, while Southern Steel and Hiap Teck surged 107% and 54.2% to RM2.46 and 43.5 sen.

At current prices, Ann Joo is trading at an earnings multiple of 10.7 times, while Southern Steel is at 11.1 times and Hiap Teck at 13.1 times.

However, is this positive trend sustainable? It should be noted that in the last five years, the industry was hit by a plunge in steel prices due to an oversupply that saw some steel players like Megasteel and Perwaja shutting down operations.

Hence despite the good run for the year, industry experts reckon that the road for local steel millers will be bumpy.

For one, the price of steel is dependent on China’s policies over its steel industry.

“The sustainability of (steel) prices are dependent on China’s policies and demand as well as global demand,” says Malaysian Iron and Steel Industry Federation president Datuk Soh Thian Lai.

He points out that although China last year pledged to cut 150 million tonnes of excess steel capacity by 2020, the republic would still have another 150 million of excess capacity.

“One key setback for the steel industry is the likelihood of China’s mills increasing production to gain profits. Also the capacities that China are cutting are mainly from private mills. These mills are likely to restart their operations,” he says.

According to the Organisation for Economic Co-operation and Development, the global steel capacity in 2016 was 2.38 billion tonnes, of which Chinese capacity stood at 1.17 billion tones, with rest of the world at 1.22 billion tonnes.

But although China is cutting its excess steel capacity, indication are that this does not necessarily lead to lower steel production there.

Last month, China based millers ramped up their production, posting a monthly record production. Their mills which include the world’s top suppliers, increased output to take advantage of the rally in steel prices. They did this before the capacity cuts by the government which were to begin this month, Bloomberg reported.

The report said that steel output in China climbed to 74.59 million tonnes last month, up from 68.57 million in August 2016.

China is expected to cut more capacity starting this month as part of the country’s winter anti-pollution curbs.

The Chinese government made a commitment last January to reducing its steel production capacity by between 100 million and 150 million tonnes.

Since last year, China has also been clamping down on illegal steel producers in efforts to curb pollution especially in the Beijing area.

Since China’s pledge in 2016, steel prices have stabilised globally and, had given the much needed breathing space for local steel players.

“In general the steel industry in Malaysia is recovering from the worst scenario having been flooded with cheap imports especially from China,” Soh says.

He expects steel prices to sustain its momentum on the back of steady demand, plant maintenance by major steel millers, as well as higher iron ore and coal prices.

The domestic price of long steel products to date has surged to about RM2,600 per tonne compared with RM2,200-RM2,400 per tonne in January this year.

Soh says demand for steel locally has been positive on the back of robust economic growth in the first half, which was boosted by construction projects.

Sustaining price increase

“Infrastructure developments in progress especially in the fourth quarter would sustain the increase in steel prices,” he says.

In addition, the government’s encouragement and promotion of the industrialised building system, a renewed push on the “buy Malaysian products first” policy, especially in the construction industry, and high-impact projects, will all help bolster the domestic steel industry.

Soh says that current local steel production capacities are sufficient to take up any surge of demand.

“The demand for steel is still not exceeding supply. Steel companies have enough capacities to overcome any upsurge of demand,” he says.

Globally, he says that the demand of steel from China and globally is growing at 7% and 1.5 %, respectively.

“If the demand is still steady in China, the international price could be sustained until year end, and recently many big steel mills are having their yearly maintenance, which could put pressure on the supply side,” Soh says.

Meanwhile, an analyst says that the recent rally in steel stocks are driven by lower steel output expected from China as the winter is coming.

“Capacity cuts especially for plants located in Beijing are expected to kick in as the winter heating season started in November,” the analyst says.

The ongoing cuts in China steel production as well the imposition of safeguard duties by Malaysia for imports from China has shown positive sign to local steel players.

In April, the Malaysian government had decided to extend safeguard duties on several steel products by between 11.9% and 13.4% for three years.

“The safeguard measures on the steel sector has also led to lower China steel imports resulting in a stabilised price mechanism, which would helped local steel millers to sustain their profitability,” points out the analyst.

The steel industry though is a tough one where only the strong survive. Consider this: between 2013 and 2015 when the domestic steel industry faced a global steel price slump as well as cheaper steel imports, local players incurred total losses of up to RM2bil. This is certainly food for thought for those betting on local steel millers riding on the current uptrend in the sector.

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