SAN FRANCISCO (MarketWatch) -- Oil prices settled under $80 a barrel on Wednesday, pulled down by a stronger U.S. dollar, concerns about the political unrest in Greece and the state of other European economies, and a higher-than-expected rise in crude inventories.
Crude oil for June delivery slumped $2.77, or 3.4%, to $79.97 a barrel on the Comex division of the New York Mercantile Exchange. That is the lowest price for a most-active contract since March 15, according to FactSet Research.
Losses were deeper mid-morning and in the last hour of trading.
"People are worried that the bull market is over, that maybe we are seeing the tipping point," said Michael Lynch, president of Strategic Energy & Economic Research, in Winchester, Mass.
Macroeconomic backdrop and the falling euro at the center of their concerns dominated trading.
Investors are feeling that prices pushing towards $90 a barrel recently were not "appropriate for this point in the economic recovery," Lynch said. "People were wondering when it would be time to sell, and it looks like the sell-off is here."
The euro fell to $1.2825 but came off lows hit earlier in the session, while the dollar index /quotes/comstock/11j!i:dxy0 (DXY 83.96, -0.12, -0.14%) rose 0.9% to 84.06.
Worries about a potential debt crisis in Europe flared up again Wednesday as Moody's Investors Service placed Portugal's debt under review for a possible downgrade and violence erupted in Greece following a nationwide strike. Three people were killed after fires broke out at riots near an Athens bank. Read more on Greek violence.
The Energy Information Administration on Wednesday said crude-oil inventories rose 2.8 million barrels in the week ended April 30, which included a 1.7 million increase in inventories in Cushing, Okla., the delivery point for Nymex oil.
Analysts surveyed by Platts had expected crude stocks to increase by 1.54 million barrels.
Gasoline stockpiles rose by 1.2 million, the EIA said, when the expectation was of a modest rise of 200,000 barrels.
Refineries operated at 89.6% of their operable capacity, the EIA said. The refinery utilization rate expected by the analysts polled was 88.66%.
Gasoline futures were the worst-hit among energy products on Monday. Gasoline for June delivery declined 10 cents, or 4.4%, to $2.22 a gallon, reverting to prices last seen in late March.
Natural gas for June delivery retreated 2 cents, or 0.6%, to $3.99 per million British thermal units.
Analysts polled by Platts expect the EIA to report an increase by 80 to 84 billion cubic feet for natural gas in storage in the week ended April 30. The agency releases its weekly report on natural-gas storages Thursday at 10:30 a.m. Eastern.
Oil trimmed some its losses earlier after the April ISM nonmanufacturing index. The index came in under expectations at 55.4, unchanged with March's level, but investors took heart it didn't show an economic contraction.
News that private-sector companies added 32,000 jobs in April, according to the ADP employment report released Wednesday, did little to change oil's direction. The increase in ADP employment was in line with expectations.
Thursday, May 6, 2010
BNM Reserves ~ 15 Apr 10 : RM 313.1 b
The international reserves of Bank Negara Malaysia amounted to RM313.1 billion
(equivalent to USD95.7 billion) as at 15 April 2010.
The reserves position is sufficient to finance 8.8 months of retained imports
and is 4 times the short-term external debt.
(equivalent to USD95.7 billion) as at 15 April 2010.
The reserves position is sufficient to finance 8.8 months of retained imports
and is 4 times the short-term external debt.
Perodoa aims to increase Export
Perodua Aims To Increase Exports To 5 Per Cent In 3-5 Years
RAWANG, April 22 (Bernama) -- Perusahaan Otomobil Kedua Sdn Bhd (Perodua) aims to increase its exports to five per cent in the next three to five years from the current two per cent, managing director Aminar Rashid Salleh said Thursday.
The company was also looking to sell 3,000 units to overseas markets this year, up from only 2,000 units car sold last year due to the global economic crisis, he said.
"We will increase gradually, because we need to tackle a few areas, particularly quality, cost and productivity," Aminar told a press conference after Perodua's line-off ceremony for 1.7 million vehicles in 17 years by Deputy Prime Minister Tan Sri Muhyiddin Mohd Yassin.
"For the long term, we would like to increase it to about 10 per cent," he said.
To date, its export markets include Brunei, Fiji, Mauritius, Nepal, Singapore, Sri Lanka, and the United Kingdom, the company's biggest export market which makes up about 40 per cent.
Aminar said Perodua's focus was still in the Asean region as it wanted to take full advantage of the Asean Free Trade Area (AFTA).
"In the future, we are looking for countries where the regulations and standards are almost similar to those in Malaysia, making it easier for us to produce our vehicles in terms of emission control and safety requirements," he said.
Currently, Perodua is carrying out a feasibility study to enter the Thai market that will be completed in the third or fourth quarter this year and it will later look at opportunities in other Asean countries.
So far, the company has shipped 26,000 completely built-up (CBU) units under its Perodua badge, while 8,000 completely knocked down (CKD) units were shipped for Daihatsu in Indonesia.
It has recorded sales of a RM24 million since it started to export CKD components in 2003 to Pakistan, Indonesia and Japan.
"We would like to increase this to at least RM50 million over the next three years," Aminar said.
Also present at the event were International Trade and Industry Minister Datuk Seri Mustapa Mohamed and Deputy Human Resources Minister Senator Datuk Maznah Mazlan.
The 1.7 millionth vehicle, an Alza standard variant, was rolled out at a simple yet significant ceremony.
Perodua employed 10,000 workers currently while its plant has the capacity to produce up to 250,000 vehicles a year on a two-shift cycle.
-- BERNAMA
RAWANG, April 22 (Bernama) -- Perusahaan Otomobil Kedua Sdn Bhd (Perodua) aims to increase its exports to five per cent in the next three to five years from the current two per cent, managing director Aminar Rashid Salleh said Thursday.
The company was also looking to sell 3,000 units to overseas markets this year, up from only 2,000 units car sold last year due to the global economic crisis, he said.
"We will increase gradually, because we need to tackle a few areas, particularly quality, cost and productivity," Aminar told a press conference after Perodua's line-off ceremony for 1.7 million vehicles in 17 years by Deputy Prime Minister Tan Sri Muhyiddin Mohd Yassin.
"For the long term, we would like to increase it to about 10 per cent," he said.
To date, its export markets include Brunei, Fiji, Mauritius, Nepal, Singapore, Sri Lanka, and the United Kingdom, the company's biggest export market which makes up about 40 per cent.
Aminar said Perodua's focus was still in the Asean region as it wanted to take full advantage of the Asean Free Trade Area (AFTA).
"In the future, we are looking for countries where the regulations and standards are almost similar to those in Malaysia, making it easier for us to produce our vehicles in terms of emission control and safety requirements," he said.
Currently, Perodua is carrying out a feasibility study to enter the Thai market that will be completed in the third or fourth quarter this year and it will later look at opportunities in other Asean countries.
So far, the company has shipped 26,000 completely built-up (CBU) units under its Perodua badge, while 8,000 completely knocked down (CKD) units were shipped for Daihatsu in Indonesia.
It has recorded sales of a RM24 million since it started to export CKD components in 2003 to Pakistan, Indonesia and Japan.
"We would like to increase this to at least RM50 million over the next three years," Aminar said.
Also present at the event were International Trade and Industry Minister Datuk Seri Mustapa Mohamed and Deputy Human Resources Minister Senator Datuk Maznah Mazlan.
The 1.7 millionth vehicle, an Alza standard variant, was rolled out at a simple yet significant ceremony.
Perodua employed 10,000 workers currently while its plant has the capacity to produce up to 250,000 vehicles a year on a two-shift cycle.
-- BERNAMA
Auto Sales ~ Mar 10 : 56,139
Vehicle Sales In March Up 25 Per Cent
KUALA LUMPUR, April 21 (Bernama) -- Sales of passenger cars and commercial vehicles in March 2010 increased 25 per cent year-on-year to 56,139 units from 44,896 units.
This brought the January to March sales higher by 27,026 units or 22 per cent when compared with the same period of 2009.
The Malaysian Automotive Association (MAA) attributed the higher sales to continued improvement in market sentiment and consumers' confidence.
Sales of passenger vehicles in March 2010 rose to 50,533 units from 40,680 units in the corresponding month last year while that of commercial vehicles rose to 5,606 units from 4,216 units, it said in a statement on Wednesday.
Sales of passenger vehicles in the first three months of the year increased to 133,057 units from 109,301 units in the corresponding period last year.
Sales of commercial vehicles in the same period went up to 14,358 units from 11,088 units previously.
For the three-month period, total industry volume rose to 147,415 units from 120,389 units in the same period of last year.
MAA said total production of vehicles in March 2010 rose to 51,579 units from 35,950 units in March last year.
Production of passenger vehicles in March increased to 47,729 units from 32,922 units in March last year while that of commercial vehicles increased to 3,850 units from 3,028 units.
Production of passenger vehicles in the three-month period rose to 130,641 units from 102,328 units in the same period last year while that of commercial vehicles went up to 12,506 units from 11,681 units.
Going forward, MAA said that sales volume for April 2010 is expected to continue the expansionary trend in the absence of no negative developments in the economy and the automotive market.
It also expects supply to be increased to fulfill outstanding orders.
-- BERNAMA
KUALA LUMPUR, April 21 (Bernama) -- Sales of passenger cars and commercial vehicles in March 2010 increased 25 per cent year-on-year to 56,139 units from 44,896 units.
This brought the January to March sales higher by 27,026 units or 22 per cent when compared with the same period of 2009.
The Malaysian Automotive Association (MAA) attributed the higher sales to continued improvement in market sentiment and consumers' confidence.
Sales of passenger vehicles in March 2010 rose to 50,533 units from 40,680 units in the corresponding month last year while that of commercial vehicles rose to 5,606 units from 4,216 units, it said in a statement on Wednesday.
Sales of passenger vehicles in the first three months of the year increased to 133,057 units from 109,301 units in the corresponding period last year.
Sales of commercial vehicles in the same period went up to 14,358 units from 11,088 units previously.
For the three-month period, total industry volume rose to 147,415 units from 120,389 units in the same period of last year.
MAA said total production of vehicles in March 2010 rose to 51,579 units from 35,950 units in March last year.
Production of passenger vehicles in March increased to 47,729 units from 32,922 units in March last year while that of commercial vehicles increased to 3,850 units from 3,028 units.
Production of passenger vehicles in the three-month period rose to 130,641 units from 102,328 units in the same period last year while that of commercial vehicles went up to 12,506 units from 11,681 units.
Going forward, MAA said that sales volume for April 2010 is expected to continue the expansionary trend in the absence of no negative developments in the economy and the automotive market.
It also expects supply to be increased to fulfill outstanding orders.
-- BERNAMA
Wednesday, April 28, 2010
Collecting Cars Stocks ~ UMW below 6.40 , MBMR below 2.80
Starting last month, I started to play with cars stocks again.
Unknown to many, cars industries are cylical in nature.
And finally few events have convinced me or at least triggered me to collect shares in 2 particular company, namely UMW & MBMR.
Wish me LUCK !
*
Unknown to many, cars industries are cylical in nature.
And finally few events have convinced me or at least triggered me to collect shares in 2 particular company, namely UMW & MBMR.
Wish me LUCK !
*
Sunday, March 7, 2010
Hobby & Side Effect
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Every evening, I always go to padang kompleks sukan for a brisk walk. There, I saw a lot of people jog as well. Some even jogs 10 rounds everyday. And they are not young people, but 40, 50 & 60 years OLD. I said "GILA" . Instead of jog 10 rounds, couldn't it be better if they stay at home and tanam sayur instead. Body also healthy and no need to spend money to buy sayur. Maybe they have other reason to jog 10 'gila' round. Probably they plan to join Olympic , or Sea Games , or some sort of Marathon ... I ask them. They simply answer they just LOVE & ENJOY jogging 10 'gila' round. I said ... aaaaa I see. But actually I don't really see. If they are doing it for fun, why the heck they doing it so SERIOUSLY. Maybe some may think since they are old, and doing it for fun (but yet so hard), you might think you could out-run them anytimes ... but oh ... how wrong you are, because, on the contrary, they really run so fast, non-stop, pumping muscle with each strike, blazing the heat , cutting through the wind ... and believe it or not, they could qualified to enter Olympic games anytimes. And they are doing all this, knowing at the finish line there will be no gold medal, no cheques and no spectator to celebrate them.
Same like someone I know, who loves to read company Annual Report, analysing quarterly financial statement, studying the business, management, and economies, calculate the math problem ... one by one by one .... and day after day after day. Sure this 'someone' doing this 'gila' task, because s/he wants to make a LOT of MONEY in share market right ? And as surprised as you may not, s/he doing it because s/he LOVE & ENJOY them .... meaning s/he does not make money from it ? Kah kah kah ... as far as I know, s/he makes tons of money. The only thing is that 'making money' is not the objective, but just a 'side effect' of her/his hobby. This is definitely one kind of side effect that everyone wish to have, of course minus the hobby please !!
*
Every evening, I always go to padang kompleks sukan for a brisk walk. There, I saw a lot of people jog as well. Some even jogs 10 rounds everyday. And they are not young people, but 40, 50 & 60 years OLD. I said "GILA" . Instead of jog 10 rounds, couldn't it be better if they stay at home and tanam sayur instead. Body also healthy and no need to spend money to buy sayur. Maybe they have other reason to jog 10 'gila' round. Probably they plan to join Olympic , or Sea Games , or some sort of Marathon ... I ask them. They simply answer they just LOVE & ENJOY jogging 10 'gila' round. I said ... aaaaa I see. But actually I don't really see. If they are doing it for fun, why the heck they doing it so SERIOUSLY. Maybe some may think since they are old, and doing it for fun (but yet so hard), you might think you could out-run them anytimes ... but oh ... how wrong you are, because, on the contrary, they really run so fast, non-stop, pumping muscle with each strike, blazing the heat , cutting through the wind ... and believe it or not, they could qualified to enter Olympic games anytimes. And they are doing all this, knowing at the finish line there will be no gold medal, no cheques and no spectator to celebrate them.
Same like someone I know, who loves to read company Annual Report, analysing quarterly financial statement, studying the business, management, and economies, calculate the math problem ... one by one by one .... and day after day after day. Sure this 'someone' doing this 'gila' task, because s/he wants to make a LOT of MONEY in share market right ? And as surprised as you may not, s/he doing it because s/he LOVE & ENJOY them .... meaning s/he does not make money from it ? Kah kah kah ... as far as I know, s/he makes tons of money. The only thing is that 'making money' is not the objective, but just a 'side effect' of her/his hobby. This is definitely one kind of side effect that everyone wish to have, of course minus the hobby please !!
*
Thursday, January 21, 2010
Copper prices lower on China news, US housing starts
Copper prices fell Wednesday on the news that China is moving to limit the amount of credit available in the country in order to make sure that inflation does not spiral out of control.
Despite some analyst predictions that demand for the metal used in construction and manufacturing will remain strong, the new reports have spurred concern that demand will fall.
Also hurting copper prices was the news that US housing starts dropped by 4 percent in December, from November levels.
March copper was down 9 cents to $3.36 per pound in New York trade, while three-month copper dropped $145 to $7,387.50 per tonne on the London Metal Exchange.
Other base metals prices also fell in London as aluminium fell $29 to $2,257.50 per tonne, zinc was down $61 to $2,441.50 per tonne, lead was $86 lower to $2,386.50 per tonne, tin fell $137.50 to $17,775 per tonne and nickel dropped $410 to $18,802.50 per tonne.
Despite some analyst predictions that demand for the metal used in construction and manufacturing will remain strong, the new reports have spurred concern that demand will fall.
Also hurting copper prices was the news that US housing starts dropped by 4 percent in December, from November levels.
March copper was down 9 cents to $3.36 per pound in New York trade, while three-month copper dropped $145 to $7,387.50 per tonne on the London Metal Exchange.
Other base metals prices also fell in London as aluminium fell $29 to $2,257.50 per tonne, zinc was down $61 to $2,441.50 per tonne, lead was $86 lower to $2,386.50 per tonne, tin fell $137.50 to $17,775 per tonne and nickel dropped $410 to $18,802.50 per tonne.
Leader inked US$ 107 m 230kV power project in Cambodia
The Star :
Leader Universal Holdings Bhd will embark on a US$107mil power transmission project in Cambodia next month, said group managing director Datuk Sean H’ng Chun Hsiang.
He told StarBiz that construction work for the first phase of the project would kick off immediately after Chinese New Year.
Leader, through its subsidiary Cambodian Transmission Ltd, inked the deal for the project with state-owned power company Electricite du Cambodge (EDC) yesterday, which commissioned the group to build a 230-kv power transmission system from North Phnom Penh to Kampong Cham on a build-operate-transfer basis.
Under the agreement, Leader will build, manage and maintain the transmission line for 25 years before returning it to the government. “Under the agreement, Leader will build two substations and a power transmission line in three phases,” H’ng said.
He said the first phase, involving the construction of a substation in Kampong Cham, was scheduled for completion in July 2011 while the construction of the North Phnom Penh substation under the second phase was slated to be completed by March 2012. “The final phase, which involves the commissioning of the 110-km transmission line from the North Phnom Penh substation to the Kampong Cham substation, will be completed in December 2013,” he said.
Leader would fund the project with internally generated funds and bank borrowings, he said, adding that the bank loans “are now in place.”
The master plan for power generation in Cambodia allowed a four-fold increase in installed capacity over the next five years, according to H’ng. “The forecast for the power load in Cambodia is that it will grow to 2,315MW in 2024 from 740MW in 2010, which is a more than a three-fold increase within 14 years, growing at a 8.5% per year growth rate,” he said.
On Leader’s 100MW coal-fired power project in Sihanoukville, H’ng said the project should be operational in 2012. “We have a 30-year build-own-operate concession to supply electricity to EDC,” he said.
Leader Universal Holdings Bhd will embark on a US$107mil power transmission project in Cambodia next month, said group managing director Datuk Sean H’ng Chun Hsiang.
He told StarBiz that construction work for the first phase of the project would kick off immediately after Chinese New Year.
Leader, through its subsidiary Cambodian Transmission Ltd, inked the deal for the project with state-owned power company Electricite du Cambodge (EDC) yesterday, which commissioned the group to build a 230-kv power transmission system from North Phnom Penh to Kampong Cham on a build-operate-transfer basis.
Under the agreement, Leader will build, manage and maintain the transmission line for 25 years before returning it to the government. “Under the agreement, Leader will build two substations and a power transmission line in three phases,” H’ng said.
He said the first phase, involving the construction of a substation in Kampong Cham, was scheduled for completion in July 2011 while the construction of the North Phnom Penh substation under the second phase was slated to be completed by March 2012. “The final phase, which involves the commissioning of the 110-km transmission line from the North Phnom Penh substation to the Kampong Cham substation, will be completed in December 2013,” he said.
Leader would fund the project with internally generated funds and bank borrowings, he said, adding that the bank loans “are now in place.”
The master plan for power generation in Cambodia allowed a four-fold increase in installed capacity over the next five years, according to H’ng. “The forecast for the power load in Cambodia is that it will grow to 2,315MW in 2024 from 740MW in 2010, which is a more than a three-fold increase within 14 years, growing at a 8.5% per year growth rate,” he said.
On Leader’s 100MW coal-fired power project in Sihanoukville, H’ng said the project should be operational in 2012. “We have a 30-year build-own-operate concession to supply electricity to EDC,” he said.
Saturday, January 16, 2010
Buy 75 sen ... Sell 80 sen
I analyse some stock, and value it at RM 1
I buy at 75 sen yesterday and sell it at 80 sen today.
I analyse some stock, and value it at 50 sen
I buy at 75 sen yesterday and sell it at 80 sen today.
I don't analyse the stock, don't know it value.
I buy at 75 sen yesterday and sell it at 80 sen today.
One thing for certain, I make 5 sen in one day.
But some people could not tell the different between the 3 scenario.
Including me ?
*
I buy at 75 sen yesterday and sell it at 80 sen today.
I analyse some stock, and value it at 50 sen
I buy at 75 sen yesterday and sell it at 80 sen today.
I don't analyse the stock, don't know it value.
I buy at 75 sen yesterday and sell it at 80 sen today.
One thing for certain, I make 5 sen in one day.
But some people could not tell the different between the 3 scenario.
Including me ?
*
Final Thoughts
In a rising market, everyone makes money and a value philosophy is unnecessary. But because there is no certain way to predict what the market will do, one must follow a value philosophy at all times. By controlling risk and limiting loss through extensive fundamental analysis, strict discipline, and endless patience, value investors can expect good results with limited downside. You may not get rich quick, but you will keep what you have, and if the future of value investing resembles its past, you are likely to get rich slowly. As investment strategies go, this is the most that any reasonable investor can hope for.
The real secret to investing is that there is no secret to investing. Every important aspect of value investing has been made available to the public many times over, beginning in 1934 with the first edition of Security Analysis. That so many people fail to follow this timeless and almost foolproof approach enables those who adopt it to remain successful. The foibles of human nature that result in the mass pursuit of instant wealth and effortless gain seem certain to be with us forever. So long as people succumb to this aspect of their natures, value investing will remain, as it has been for 75 years, a sound and low-risk approach to successful long-term investing.
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The real secret to investing is that there is no secret to investing. Every important aspect of value investing has been made available to the public many times over, beginning in 1934 with the first edition of Security Analysis. That so many people fail to follow this timeless and almost foolproof approach enables those who adopt it to remain successful. The foibles of human nature that result in the mass pursuit of instant wealth and effortless gain seem certain to be with us forever. So long as people succumb to this aspect of their natures, value investing will remain, as it has been for 75 years, a sound and low-risk approach to successful long-term investing.
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