Will DIGI (6947) break through RM5.38 reisstance level?
and we wasting our time
This isn't the real job
we should give up our hobby they say
But if their only knew
that we are the master of risk
The ascent of entrepreneurial spirit
the liquidity of the economy
we live by our wits
eating what we hunt
adapting to the ever changing jungle landscape that its the market
we trade the currency you circulate when you shop
we trade the companies you work for each day
we trade the gold on the watch on your wrist
while you will to decide of failure and lost
we relish it verse
we are not afraid to take loses
to talk about our loses
to rebound from our loses
those are our defining moment
discipline and self awareness
are our companion
we are what you always wish you could be
and were coming out of the shadow
we are traders
Malaysia's KLCI Up 0.7%; Immediate Resistance At 1,634
Malaysia shares are trading higher in line with other Asian markets after China's factory output and retail sales data topped expectations, firming hopes for an economic recovery in China, which is Malaysia's largest trading partner. The KLCI is 0.7% higher at 1629.26, led by blue-chip stocks. Gainers outpace laggards 206 to 154, while 212 stocks remain unchanged. "There are not enough local drivers and the market will continue to take cues from developments overseas," says local dealer, who tips immediate resistance at 1,634.
DJ MARKET TALK: Malaysia KLCI +0.3%; Sell On Rallies - Maybank
0506 GMT [Dow Jones] Malaysia's KLCI holds on to its gains, up 0.3% at 1612.02 at the midday break, in line with the rise in most Asian stock markets though overall trading volume remains thin. Maybank IB says investors should dispose on rallies as technical indicators suggest that the benchmark index may fall towards 1535-1569 in the longer-term in a downtrend that may last up to two months; the house tips the KLCI to face selling pressure around the 1607-1624 area. Market breadth is positive at 271 gainers and 213 losers with 391.9 million shares changing hands. Among the most active benchmark stocks, Maxis (6012.KU) is up 0.3% at MYR6.46, Axiata Group (6888.KU) up 0.2% at MYR5.94 and CIMB Group (1023.KU) is up 0.7% at MYR7.53.
DJ MARKET TALK: Malaysia KLCI +0.3%; 1620-1630 Resistance - Affin
0243 GMT [Dow Jones] Malaysia's KLCI is up 0.3% at 1612.67 tracking gains in most Asian stock markets with all sectors in positive territory except for plantation stocks. "This week's bullish reversal and a dramatic shift in technical indicators in the last two days may inspire more aggressive buying and upside for KLCI toward the mid-November high of 1630," says Affin IB. The house pegs 1620-1630 as the resistance zone while support remains at 1580-1600. Market breadth is positive at 237 gainers vs 134 losers with 221.1 million shares changing hands. Among the most active benchmark stocks, Maxis (6012.KU) is up 0.2% at MYR6.45, UEM Land (5148.KU) up 1.0% at MYR2.10 and AMMB Holdings (1015.KU) is up 0.3% at MYR6.45.
By Shie-Lynn Lim
Palm oil, the world's cheapest available cooking oil, must drop 7% in the next four to six weeks to attract demand and lead to a decline in record stock levels, top vegetable oil analyst Dorab Mistry said Friday.
Reiterating a forecast earlier this month, Mr. Mistry, who also heads the vegetable oils trading desk at Godrej International Ltd., said prices need to drop to 2,200 ringgit a metric ton "in order to attract massive energy demand so as to reduce and clear stocks."
Once stocks are cleared and demand improves, prices could rise to as much as MYR2,600/ton by February, he said.
Benchmark palm oil futures on Malaysia's derivatives exchange have slumped 26% so far this year as slowdowns in China and the European Union curbed demand for the tropical oil, which is used to make a wide variety of products from toothpaste to noodles and biodiesel.
The fall in demand pushed stockpiles to a record high in Malaysia, the world's no. 2 producer.
Over the next few weeks, output will likely rise in top producer Indonesia, weighing further on prices.
"Indonesian production is running ahead of [my] expectations. Output is peaking this month in November and looks likely to exceed my estimate of 27.5 million tons for 2012," Mr. Mistry said in a prepared speech ahead of a conference in Bali.
He also maintained Malaysia's production at 18.4 million tons this year.
Production in Indonesia and Malaysia, which together account for more than 80% of global production, will continue to expand in the year ahead "since there has been no major weather disturbance. Production in September-December could rise to new highs, possibly creating new monthly production records in both countries."
He expects Malaysian production to recover to 19 million tons in 2013 and pegs Indonesian output between 29.5 million and 30 million tons.
During the 2012-13 marketing year that began Oct. 1 , global consumption may grow by about 4 million tons, outpacing supply growth of 3.2 million tons.
Incremental demand will exceed supply, but Mr. Mistry doesn't expect a sharp surge in prices next year.
"We started the new oil year with the heaviest stocks in history. The massive overhang from the previous year will cushion the impact of lower vegetable oils production in the first half."
From March, a recovery in soft oils production and the anticipation of major soy, canola and sunseed crop harvests "will prevent any thoughts of a price rally" in global vegetable oils, he said.
Rival soyoil, which competes with palm oil for similar export markets, may trade in a $900-$1,020/ton range from May 2013, compared with offer prices of $1,105/ton earlier this week, he said.
DJ MARKET TALK: Malaysian Shares Likely Up; HwangDBS Tips 1617 Cap
Malaysian shares are likely to rise, tracking gains on Wall Street's gains Thursday; HwangDBS says the benchmark KLCI may continue to ride on its technical strength by swinging sideways with a marginal positive bias. "However, the benchmark index's immediate upside potential will likely be capped by the 160-day moving average line which currently stands at 1617," the house says. The KLCI ended Thursday up 0.1% at 1607.32. Genting (3182.KU) and KPJ Healthcare (5878.KU) will be in focus after their quarterly results came in below market expectations. (email@example.com)
DJ MARKET TALK: Malaysia Shares Likely In 1600-1617 Band - HwangDBS
0046 GMT [Dow Jones] Malaysia shares will likely struggle to find more upside after the benchmark KLCI staged a technical rebound Wednesday; "On the chart, we reckon the KLCI will likely run into resistance at the 160-day moving average line which presently hovers at 1617," says HwangDBS. Immediate support is seen at the psychological 1600 mark, the house adds. The KLCI ended up 0.5% at 1606.52 Wednesday. Among stocks in focus, Maxis (6012.KU) may fall after its latest quarterly profits came in below expectation, while Axiata Group (6888.KU) is scheduled to release its quarterly results during the midday break
DJ MARKET TALK: Kenanga Keeps Sime Darby At Market Perform
0714 GMT [Dow Jones] STOCK CALL: Kenanga Investment Bank maintains Sime Darby Bhd (4197.KU) at Market Perform but lowers its target to MYR9.00 from MYR9.80 previously, following significantly lower 1Q earnings from its plantations division. The house lowers its FY13-FY14 earnings forecast by 7% to MYR3.68 billion-MYR3.83 billion after factoring lower average crude palm oil price for 2013 and 2014 to MYR2,850/ton vs MYR3,000/ton previously. The conglomerate's "unexciting FY13 earnings growth should limit upside to its share price," it notes. Sime Darby is down 3.0% at MYR8.97.
DJ MARKET TALK: Malaysia's KLCI 10% Potential Upside In 2013-AmBank
0502 GMT [Dow Jones] Malaysia's benchmark 30-share KLCI has potential upside of about 10% through 2013 from its current level, to be driven by robust economic growth led by the Economic Transformation Program, says AmBank. Malaysia's KLCI has lagged Asean peers this year, and has risen only about 5% compared to more-than-20% gains in the Philippines and Thailand. "On the flip side, this relative under performance also underscores prospects of outperformance post-General Elections 2013 because its premium valuation has narrowed," says the report. The house tips under a base-case, for the KLCI to be fairly-valued at 1,770 by 2013-end based on trend-average 15X FY13 earnings. The KLCI is currently up 0.4% at 1604.84 midday break.
DJ MARKET TALK: Malaysia's KLCI Down 0.4%; May Fall Towards 1563 - HL
0242 GMT [Dow Jones] Malaysia's KLCI is down 0.4% at 1593.38 as investors continue to lighten their portfolios ahead of the year-end as well as a general elections that must be held in the country by early next year; so far this month, the benchmark index has declined almost 5%, spending most of the month trading in negative territory. "In the near term, trading sentiment on Bursa Malaysia will remain bearish, mainly attributable to the uninspiring ongoing 3Q results season and local election risks," says Hong Leong IB. The house tips the KLCI to drift towards 1583 and 1563 before a more sustainable rebound kicks in. Market breadth is negative at 310 losers and 134 gainers with 325.0 million shares changing hands. Among top losers on the benchmark index, Petronas Chemicals (5183.KU) is down 2.6% at MYR5.93, Genting Malaysia (4715.KU) is down 2.3% at MYR3.43 and UEM Land (5148.KU) is down 0.9% at MYR2.13.
KUALA LUMPUR--Sime Darby Bhd. (4197.KU), the world's largest listed palm oil producer by acreage, said Tuesday first-quarter net profit fell 7.4%, dragged down by its mainstay plantation business and healthcare division.
Net profit for the three months ended Sept. 30 was 990.3 million ringgit ($324 million), compared with MYR1.07 billion in the same quarter a year earlier, it said in a statement to the Malaysian stock exchange.
This was the company's second consecutive quarter of net profit decline.
Revenue, however, rose 7.0% on-year to MYR11.83 billion from MYR11.06 billion.
Sime Darby said it is targeting a net profit of MYR3.2 billion for the financial year ending June 30. This compares with a MYR4.15 billion net profit recorded during the previous fiscal year.
"While the overall economic environment will be challenging, the group is positive that the strength and diversity of the group's six core businesses and its strategic focus will place the group in a strong position to withstand the economic headwinds," Sime Darby said.
Apart from plantation and healthcare, Sime Darby is also involved in property development, industrial equipment, automotive and port operations.
By Jason Ng
0219 GMT [Dow Jones] BMD CPO futures may rise at the start of trading Tuesday on the back of upbeat external sentiment after euro-zone ministers reached a deal to provide support to Greece and gains in CBOT soyoil futures. Palm oil is tipped to move within a MYR2,400-MYR2,450/ton range, as investors turn focus to price outlooks by leading vegoil analysts James Fry, Thomas Mielke and Dorab Mistry in Bali later this week and the U.S. fiscal cliff negotiations. Benchmark February CPO ended 1.5% higher at MYR2,432/ton Monday/ton; CBOT December soyoil settled 0.5% higher at 49.27 cents/lb Monday and was last trading 0.5% higher in screen trade. (firstname.lastname@example.org)
PETALING JAYA: DRB-Hicom Bhd plans to develop the main infrastructure and showhouses at its RM8bil Glenmarie Heights project in Johor by mid-2012.
“We have submitted our plans for the development and have segmented the development into five phases, each phase will be between 300 to 500 acres,” DRB-Hicom group managing director Datuk Seri Mohd Khamil Jamil said at a media retreat recently.
“This is a huge piece of land, and my biggest concern is how do I bring content to the development. I want to build homes, and not just houses for people,” he said.
According to Khamil, the area offered tremendous potential, as the surrounding Mount Austin is already well developed, and it is also located within the Economic Zone E Senai- Skudai of Iskandar Malaysia.
The group has also revised the original plan for the parcels of land to cater to the current needs of society.
“We will start to develop the first 200 acres as the introduction phase, and it will start from the southwestern tip of the land,” he said.
Khamil also said that owing to the size of the development, DRB-Hicom was open to partnerships and joint ventures with reputable developers.
“Property developers are welcome to join us to develop this parcel of land as 1,500 acres is huge, and I would like to optimise my returns and look at the opportunities available,” he said.
The first and second phases of the project Phase 1C1A consisting 131 units of double-storey terrace house and Phase 1C1B consisting 84 units of cluster homes are scheduled to be launched in September 2013.
With 1,516 acres of total development area, consisting of various township components, the project is estimated to have a gross development value of RM8bil over 10 years.
The group has obtained the approvals from the Johor Baru City Council and will be developing the project via its subsidiary Glenmarie Properties Sdn Bhd.
Back in 2008, DRB-Hicom bought the parcels of land from Benua Kurnia Sdn Bhd and Neraca Prisma Sdn Bhd for RM722.4mil.
The group financed the purchase by disposing of five pieces of plantation land for RM341.4mil to the vendors and obtained a bank guarantee facility of RM238.9mil to satisfy the purchase. The balance RM141.7mil was paid in cash.