Saturday November 7, 2009
Kinsteel profit down on lower steel prices
Kinsteel Bhd posted a net profit of RM19.8mil in the third quarter ended Sept 30,
which was only a third of RM58mil it made in the previous corresponding period.
Revenue was almost halved at RM458mil from RM845mil registered a year ago.
“The decrease in revenue was mainly due to lower steel prices,” said the company.
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In a separate statement, Perwaja Holdings Bhd, which is 37.3% owned by Kinsteel,
said it posted a net profit of RM13mil in the third quarter ended Sept 30
versus RM80.3mil made a year earlier.
Revenue fell to RM409mil from RM978mil previously.
It said the lower revenue and profit was mainly due to the lower steel prices
and decline in demand.
*
Saturday, November 7, 2009
Friday, November 6, 2009
Bakun dam to power up electricity in October or November next year
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KUCHING: The Bakun hydro dam project is expected to start generating electricity in October or November next year when the first of its eight turbines is commissioned. Sarawak Hidro Sdn Bhd’s general manager (civil) Tan Yong Long said each turbine could produce 300MW of electricity. He said the 205m-high concrete-faced rockfill dam, the world’s second highest after the 233m-high Shubuya dam in China, had an installed capacity of 2,400MW.
The bulk of the electricity will be exported to the peninsula through undersea submarine cables, the first of which is expected to be ready by 2016.
“The project’s main civil works are now 95% completed. The electrical and mechanical package is more than 90% complete,” he told a media briefing on the dam’s progress here on Wednesday night.
Sarawak Hidro, a wholly-owned subsidiary of Ministry of Finance Inc, is the project developer and manager. Tan said the second turbine is expected to be commissioned three months after the first, and the dam would be fully operational by 2011. He said impounding was expected to start in January by the latest, and that it would take eight months for the water level at the reservoir to reach the minimum operational level for tests to be carried out.
The reservoir will have a surface area of 695 sq km – the size of Singapore – when the water level reaches the maximum operating level of elevation at 228m. The Bakun catchment area covers some 14,750 sq m, which is as big as Kelantan. Tan said biomass removal through open burning and covering 455ha of the reservoir was now 80% complete. The entire job would be finished by next month.
“Works to remove the biomass started in January. It is tedious and labour intensive.”
On the rescue of wildlife, he said ground monitoring work to build up the wildlife inventory started two months ago. The wildlife would be relocated with the help of the Sarawak Forestry Corporation.
Allaying fears on the dam’s safety, Tan said: “Earthquake is not an issue. It will not make the dam fail.” However, he said instruments to detect earthquakes would be installed.
*
KUCHING: The Bakun hydro dam project is expected to start generating electricity in October or November next year when the first of its eight turbines is commissioned. Sarawak Hidro Sdn Bhd’s general manager (civil) Tan Yong Long said each turbine could produce 300MW of electricity. He said the 205m-high concrete-faced rockfill dam, the world’s second highest after the 233m-high Shubuya dam in China, had an installed capacity of 2,400MW.
The bulk of the electricity will be exported to the peninsula through undersea submarine cables, the first of which is expected to be ready by 2016.
“The project’s main civil works are now 95% completed. The electrical and mechanical package is more than 90% complete,” he told a media briefing on the dam’s progress here on Wednesday night.
Sarawak Hidro, a wholly-owned subsidiary of Ministry of Finance Inc, is the project developer and manager. Tan said the second turbine is expected to be commissioned three months after the first, and the dam would be fully operational by 2011. He said impounding was expected to start in January by the latest, and that it would take eight months for the water level at the reservoir to reach the minimum operational level for tests to be carried out.
The reservoir will have a surface area of 695 sq km – the size of Singapore – when the water level reaches the maximum operating level of elevation at 228m. The Bakun catchment area covers some 14,750 sq m, which is as big as Kelantan. Tan said biomass removal through open burning and covering 455ha of the reservoir was now 80% complete. The entire job would be finished by next month.
“Works to remove the biomass started in January. It is tedious and labour intensive.”
On the rescue of wildlife, he said ground monitoring work to build up the wildlife inventory started two months ago. The wildlife would be relocated with the help of the Sarawak Forestry Corporation.
Allaying fears on the dam’s safety, Tan said: “Earthquake is not an issue. It will not make the dam fail.” However, he said instruments to detect earthquakes would be installed.
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Wednesday, November 4, 2009
Analabs ~ 03 Nov 09 : buy back 66,000 at RM 1.148
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Notice of Shares Buy Back - Immediate Announcement
Date of Buy Back : 03/11/2009
Description of Shares Purchased : Ordinary shares of RM1.00 each
*
No. of Shares Purchased : 66,000 shares
Minimum Price Paid For Each Share Purchased : RM 1.140
Maximum Price Paid For Each Share Purchased : RM 1.150
Total Consideration Paid : RM 75,800.00
*
No. of Shares Purchased Retained in Treasury : 66,000 shares
No. of Shares Which Are Proposed To Be Cancelled : 0 shares
Cumulative Net Outstanding Treasury Shares As At To-Date : 750,000 shares
Adjusted Issued Capital After Cancellation : 0
*
Date Lodged With Registrar of Company :
Lodged By :
Remarks: N/A
Submitted By:
CHEW MEI LING
03/11/2009 05:26 PM
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Notice of Shares Buy Back - Immediate Announcement
Date of Buy Back : 03/11/2009
Description of Shares Purchased : Ordinary shares of RM1.00 each
*
No. of Shares Purchased : 66,000 shares
Minimum Price Paid For Each Share Purchased : RM 1.140
Maximum Price Paid For Each Share Purchased : RM 1.150
Total Consideration Paid : RM 75,800.00
*
No. of Shares Purchased Retained in Treasury : 66,000 shares
No. of Shares Which Are Proposed To Be Cancelled : 0 shares
Cumulative Net Outstanding Treasury Shares As At To-Date : 750,000 shares
Adjusted Issued Capital After Cancellation : 0
*
Date Lodged With Registrar of Company :
Lodged By :
Remarks: N/A
Submitted By:
CHEW MEI LING
03/11/2009 05:26 PM
*
Analabs ~ 04 Nov 09 : Value Chart
04 Nov 2009
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Analabs
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price 1.14
EPS 0.16
EPS 12 mo 0.18
ncal 09 nov 0.89
ncal 10 nov 1.07
eps value 10 nov 1.32
fair value 10 nov 1.40
upside 22%
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My call to myself : to add more at RM 1.10
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Sunday, November 1, 2009
Poh Kong ~ 01 Nov 10 : value chart
01 Nov 2009
*
Price 41 sen
EPS ma 12mo 6.9 sen
EPS f 12 mo 6.9 sen
Ncal 09 oct 49.3 sen
Ncal 10 oct 56.5 sen
EPS value 10 oct 50 sen
Fair value 10 oct 50 sen
Upside 12 mo 21.9 %
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My call to myself : Buy at 41 sen
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Friday, October 30, 2009
High port stocks damp Chinese demand for palm oil
29 Oct 09
China, the world’s second largest vegetable oil buyer, has slowed palm oil purchases by 20 to 25 percent this month amid swelling stocks at its ports, which may weaken exports and put pressure on prices.
Traders say China’s palm oil stocks are up 25 percent to half a million tonnes, a marked contrast to its port soybean stocks, which have fallen by as much as half in the past three months to 2-3 million tonnes.
Soy imports are expected to surge as China’s food processors try to keep up with soyoil demand but on the palm oil front, China just bought 340,000 tonnes of mostly refined palm olein from Malaysia compared to the monthly 400,000-450,000 tonnes.
“Chinese buyers are not even price sensitive about palm oil these days,” said a Singapore-based trader who deals regularly with the China market. “They usually run away when refined palm oil prices are $650 a tonne but now that equation does not work. They are just buying hand-to-mouth, very small cargoes, as stocks are large.”
Refined palm olein prices now stand at $670 a tonne and traders expect the cash market to weaken on the lack of strong demand. Malaysia’s exports, which had a strong performance in the first half of October, have started to soften.
INDIA BUYS
India has been buying more. Cargo surveyor data for Malaysia’s Oct. 1-25 showed that the world’s top buyer of vegetable oils snapped up 38 percent more palm oil at 86,010 tonnes compared to the same period a month ago.
This week, India bought 20,000 tonnes of crude palm oil from Malaysia and Indonesia at $650 and $680 a tonne based on cost, insurance and freight (CIF), traders said. There may be new orders if crude palm oil prices fall to $625-$630 a tonne.
Cargoes would be smaller though, due to the incoming soybean harvest in India, traders say. Prices of the oilseed have fallen to 21,500 rupees ($452) a ton this week compared to 22,500 rupees a week ago as more soybeans entered the market.
“The new crushing season started this month and soybean arrivals have been gaining pace. Soyoil imports from the U.S. are non-existent for now,” said a leading trader from the Indian port city of Mumbai.
But India is on the lookout for soyoil cargoes for Dec. and Jan. delivery once the soybean crop gets processed, other dealers say.
They say orders will be directed mostly at Brazil and Argentina, which are expected to produce a bumper soybean crop after suffering from drought this year.
*
China, the world’s second largest vegetable oil buyer, has slowed palm oil purchases by 20 to 25 percent this month amid swelling stocks at its ports, which may weaken exports and put pressure on prices.
Traders say China’s palm oil stocks are up 25 percent to half a million tonnes, a marked contrast to its port soybean stocks, which have fallen by as much as half in the past three months to 2-3 million tonnes.
Soy imports are expected to surge as China’s food processors try to keep up with soyoil demand but on the palm oil front, China just bought 340,000 tonnes of mostly refined palm olein from Malaysia compared to the monthly 400,000-450,000 tonnes.
“Chinese buyers are not even price sensitive about palm oil these days,” said a Singapore-based trader who deals regularly with the China market. “They usually run away when refined palm oil prices are $650 a tonne but now that equation does not work. They are just buying hand-to-mouth, very small cargoes, as stocks are large.”
Refined palm olein prices now stand at $670 a tonne and traders expect the cash market to weaken on the lack of strong demand. Malaysia’s exports, which had a strong performance in the first half of October, have started to soften.
INDIA BUYS
India has been buying more. Cargo surveyor data for Malaysia’s Oct. 1-25 showed that the world’s top buyer of vegetable oils snapped up 38 percent more palm oil at 86,010 tonnes compared to the same period a month ago.
This week, India bought 20,000 tonnes of crude palm oil from Malaysia and Indonesia at $650 and $680 a tonne based on cost, insurance and freight (CIF), traders said. There may be new orders if crude palm oil prices fall to $625-$630 a tonne.
Cargoes would be smaller though, due to the incoming soybean harvest in India, traders say. Prices of the oilseed have fallen to 21,500 rupees ($452) a ton this week compared to 22,500 rupees a week ago as more soybeans entered the market.
“The new crushing season started this month and soybean arrivals have been gaining pace. Soyoil imports from the U.S. are non-existent for now,” said a leading trader from the Indian port city of Mumbai.
But India is on the lookout for soyoil cargoes for Dec. and Jan. delivery once the soybean crop gets processed, other dealers say.
They say orders will be directed mostly at Brazil and Argentina, which are expected to produce a bumper soybean crop after suffering from drought this year.
*
Auto Sales ~ Sep 09 : 46,069
Motor Vehicle Sales Down 5 Per Cent In September 2009
KUALA LUMPUR, Oct 15 (Bernama) -- Motor vehicle sales volume in September 2009 was 2,469 units or five per cent lower than the previous month, the Malaysian Automotive Association (MAA) said Thursday.
The lower sales was attributed by the association to the short working month due to the Hari Raya festive holidays."Sales volume for October 2009 is expected to be maintained," MAA said in a statement Thursday.
Motor vehicle sales for September 2009 decreased by nine per cent to 46,069 units from 50,729 units in the same period last year, the association said.
Year-to-date September 2009 motor vehicle sales declined by seven per cent to 397,619 units from 429,913 units previously.
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KUALA LUMPUR, Oct 15 (Bernama) -- Motor vehicle sales volume in September 2009 was 2,469 units or five per cent lower than the previous month, the Malaysian Automotive Association (MAA) said Thursday.
The lower sales was attributed by the association to the short working month due to the Hari Raya festive holidays."Sales volume for October 2009 is expected to be maintained," MAA said in a statement Thursday.
Motor vehicle sales for September 2009 decreased by nine per cent to 46,069 units from 50,729 units in the same period last year, the association said.
Year-to-date September 2009 motor vehicle sales declined by seven per cent to 397,619 units from 429,913 units previously.
*
26 Oct 09 BNM ~ OPR unchanged at 2.00%
Monetary Policy StatementAt the Monetary Policy Committee (MPC) meeting today, Bank Negara Malaysia decided to leave the Overnight Policy Rate (OPR) unchanged at 2.00 percent.
Since the MPC in August, the international economic and financial conditions have improved further. Economic activity in the advanced economies has shown broader signs of stabilisation, supported by the impact of policy measures implemented and an improvement in consumer sentiment and business confidence.
Several regional economies have reported positive growth in the third quarter, indicating that recovery in the region is ongoing. Notwithstanding these improvements, the outlook for the global economy continues to be uncertain, with recovery likely to be slow and uneven in view of the ongoing adjustments.
In the domestic economy, stronger evidence has emerged to suggest that conditions are improving and a recovery in economic activity is gaining some strength. These improvements are more broad-based and are reflected in stronger labour market conditions, consumer and business sentiments, industrial production, financing activity and external trade. These positive developments are expected to continue into 2010, with growth in the domestic economy expected to continue to be supported by existing policy measures and the growing confidence in the private sector.
Consumer prices declined at a slower rate in September. The decline in prices largely reflects the cumulative fall in fuel prices since June 2008 and the easing pressure on food prices. The decline in consumer prices, however, is expected to be temporary.
Excluding further unanticipated price adjustments and external influences, inflation in 2010 is projected to be positive but remain subdued.With improving domestic economic conditions, and as price pressures and inflationary expectations are expected to remain contained going forward, the assessment is that the current monetary policy stance is appropriate and will continue to provide support to economic activity.
Bank Negara Malaysia28 October 2009
Since the MPC in August, the international economic and financial conditions have improved further. Economic activity in the advanced economies has shown broader signs of stabilisation, supported by the impact of policy measures implemented and an improvement in consumer sentiment and business confidence.
Several regional economies have reported positive growth in the third quarter, indicating that recovery in the region is ongoing. Notwithstanding these improvements, the outlook for the global economy continues to be uncertain, with recovery likely to be slow and uneven in view of the ongoing adjustments.
In the domestic economy, stronger evidence has emerged to suggest that conditions are improving and a recovery in economic activity is gaining some strength. These improvements are more broad-based and are reflected in stronger labour market conditions, consumer and business sentiments, industrial production, financing activity and external trade. These positive developments are expected to continue into 2010, with growth in the domestic economy expected to continue to be supported by existing policy measures and the growing confidence in the private sector.
Consumer prices declined at a slower rate in September. The decline in prices largely reflects the cumulative fall in fuel prices since June 2008 and the easing pressure on food prices. The decline in consumer prices, however, is expected to be temporary.
Excluding further unanticipated price adjustments and external influences, inflation in 2010 is projected to be positive but remain subdued.With improving domestic economic conditions, and as price pressures and inflationary expectations are expected to remain contained going forward, the assessment is that the current monetary policy stance is appropriate and will continue to provide support to economic activity.
Bank Negara Malaysia28 October 2009
BNM Reserves ~ 15 Oct 09 : RM 334.2 b
The international reserves of Bank Negara Malaysia amounted to RM334.2 billion
(equivalent to USD95.9 billion) as at 15 October 2009.
The reserves position is sufficient to finance 9.5 months of retained imports
and is 3.9 times the short-term external debt.
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(equivalent to USD95.9 billion) as at 15 October 2009.
The reserves position is sufficient to finance 9.5 months of retained imports
and is 3.9 times the short-term external debt.
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Thursday, October 29, 2009
New Portfolio ~ 2009 Oct ...
Aaaaa ..... good time to start a new portfolio.
22 Oct 2009
Injected new Capital of RM 34,5oo into new portfolio
I buy 6,000 Analabs at RM 1.14
23 Oct 2009
I buy 4,300 Analabs at average price of RM 1.1414
26 Oct 2009
I buy 9,100 Analabs at RM 1.13
29 Oct 2009
I buy 15,000 Leader at RM 0.78
I injected another RM 5,000 capital
22 Oct 2009
Injected new Capital of RM 34,5oo into new portfolio
I buy 6,000 Analabs at RM 1.14
23 Oct 2009
I buy 4,300 Analabs at average price of RM 1.1414
26 Oct 2009
I buy 9,100 Analabs at RM 1.13
29 Oct 2009
I buy 15,000 Leader at RM 0.78
I injected another RM 5,000 capital
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