Oil Inventories Report

Oil Stocks

OECD commercial oil stocks rose by 11.7 mb in May, broadly in line with the five-year average.
Crude stocks showed a surplus of 13 mb, while product inventories indicated a deficit of 17.3 mb.
In terms of days of forward cover, OECD commercial stocks stood at 58.9 days.
Preliminary data for June shows that US total commercial oil stocks rose by 14.2 mb for a surplus of 48.2 mb with the five-year average.
US crude and product stocks were at 33.8 mb and 14.4 mb, respectively, both above the five-year average.

~ Issued 10 July 2013

First they object Tanda Putra, now they object New Village ...

THE nod given by the National Film Development Corporation Malayisa (Finas) for the screening of local film The New Village was highlighted by Awang Selamat in Mingguan Malaysia.

He wrote that Malaysians were too cautious over the screening of the film Tanda Putera to the extent that the movie had been put on hold several times following protests from various groups representing the Chinese community.

However, he said it was ironic for Tanda Putera, which supposedly depicted the historical facts behind the May 13 racial riots, to come under pressure for being “racist” when certain groups had managed to get away with producing The New Village.

The columnist questioned how the film could have been approved by the authorities, particularly in view of the coming Merdeka Day celebration, when it allegedly glorified the exploits of the Malayan People Anti-Japanese Army, which had ties to the Malayan Communist Party.

“Many of our security forces personnel were killed and maimed due to the communists, who are now recognised and glorified as heroes. Why does the producer of the New Village film want to re-write history?” he wrote.

The columnist said he believed that this was part of the effort to recognise the struggle of the communist party and its leaders, especially Chin Peng.

He said that it did not make sense for the film to be screened before Tanda Putera which had long been completed and which, according to him, should be shown as a way to strengthen patriotism and the need to maintain harmony.


*********************************************************
Comment : We have a very LOW CLASS mentality of politician on both sides. Anyway, who want to go to watch these two movies ? You ?

KPJ fell 62 sen to RM6.63

KUALA LUMPUR: KPJ Healthcare Bhd saw RM404.6mil erased from its market capitalisation at midday on Monday after it was ordered to pay RM70.48mil as damages in a legal suit.

At midday, the shares fell 62 sen to RM6.63 with 4.09 million shares done. This saw its market capitalisation reduced from RM4.74bil (based on Friday's closing price of RM7.25 and its paid-up of 653.9 million shares) to RM4.335bil.

Its warrants, KPJ-WA fell 41 sen to RM5 and its call warrants, KPJ-CJ lost 10 sen to 11.5 sen.

Last Friday, KPJ announced that the High Court had allowed the plaintiff Dr Mohd Adnan Sulaiman's  claim against the healthcare provider and awarded RM70.48mil as damages and costs of RM150,000.

Dr Adnan had sued the  company for breaching the joint venture agreement incorporating shareholders' agreement dated May 30, 1995.

Alliance Research said the sum awarded represented 43.8% of its FY13 core net profit estimates.

"We lower our FY13 net profit estimates by 41.4% and but leave our FY13 core net profit estimates unchanged. Furthermore, we see downside risk to KPJ's dividends despite an appeal to the Court of Appeal and ample cash of RM232.9m as of 1QFY13," it said.

Alliance Research said with the recent share-price run, FY13 and FY14 P/E valuations had been stretched to 28.7 times and 27.6 times respectively which were unjustified despite a 15.1% three-year earnings CAGR.

 "Given this setback and risk of longer than expected gestation period for upcoming new hospitals, we downgrade from neutral to SELL with a higher target price of RM6.32 as we rollover valuation to FY14," it said.

Economies Update 29 Jul 2013 - Gold, Copper, Gas, Crude dropped

Asian stocks fell, with the regional benchmark retreating a fourth day, before a speech by Bank of Japan Governor Haruhiko Kuroda and monetary policy reviews from the U.S. to Europe this week. The yen held gains versus the dollar, while most metals and natural gas declined.

The MSCI Asia Pacific Index of regional equities sank 0.8 percent by 9:57 a.m. in Tokyo, headed for a 2 1/2-week low. The yen climbed 0.2 percent against the dollar, set for the strongest close since June 26 after posting the biggest jump of 16 major currencies tracked by Bloomberg last week. Malaysia’s ringgit weakened a fourth day. Standard & Poor’s 500 Index (SPX) futures were little changed after the gauge rose 0.1 percent July 26. Gold led precious metals lower, while copper dropped 0.3 percent. Natural gas futures (HIA) lost 2.3 percent.

The Federal Open Market Committee convenes July 30-31, with reports this week expected to show economic growth weakened in the second quarter and employers added fewer workers this month. The European Central Bank and Bank of England also meet this week, after both signaled earlier in the month that they will keep interest rates low. Japanese retail sales rose 1.6 percent from a year earlier in June, figures today showed, below the 2.1 percent estimate in a Bloomberg survey.

“It’s a big week with earnings reports, central bank meetings, and of course U.S. payrolls,” Nader Naeimi, Sydney-based head of dynamic asset allocation at AMP Capital Investors Ltd., which manages more than $130 billion, said by phone. “Investors will be paying a lot of attention to these and studying the implications for Fed tapering arguments. Where markets go from here depends a lot on the data and the Fed.”

Gold dropped 0.3 percent to $1,328.97 an ounce, falling a second day, while silver sank 0.5 percent, platinum lost 0.2 percent and palladium slipped 0.3 percent.

Speculation the Fed will hold back on easing stimulus is fueling wagers betting on a gold rally, with net-long positions up 26 percent as of July 23, U.S. Commodity Futures Trading Commission data show.

Copper for three-month delivery on the London Metal Exchange sank a third day, poised for the lowest close since July 10, as zinc and tin retreated at least 0.2 percent.

West Texas Intermediate crude was unchanged at $104.70 a barrel after slipping 0.8 percent July 26. Oil declined at the end of last week on speculation China’s plans to cut excess manufacturing capacity will reduce fuel consumption.

Gas futures retreated a fourth day. Contracts on rubber maturing in January declined 2.2 percent.

PMCorp 2013 Quarter 1 Report

*notes : PMCorp currently trading at 15 sen on monday 29.1.2013

KPJ > announcement > material litigation

Company Name	KPJ HEALTHCARE BERHAD
Stock Name	KPJ
Date Announced	26 Jul 2013

MATERIAL LITIGATION 

Type	Announcement
Subject	MATERIAL LITIGATION
Description	Johor Bahru High Court Writ Summons No : 23NCVC-74-05/2012 Plaintiffs : Dr Mohd Adnan Bin Sulaiman Azizan Bin Sulaiman Defendant : Kumpulan Perubatan (Johor) Sdn Bhd ("The Company")

This announcement is in respect of Johor Bahru High Court Writ Summons No.23NCVC-74-05/2012 filed by Plaintiffs against The Company wherein the Plaintiffs alleged that the Defendant had breached the Joint Venture Agreement Incorporating Shareholders' Agreement dated 30.5.1995.

The Company wishes to announce that the Honourable Judge Abdul Rahman Bin Sebli on 26.7.2013 allowed the Plaintiffs claim against the Defendant and awarded the sum of   RM 70.486 million   as damages and costs for the sum of RM 150,000.00.

The Company has instructed its solicitors, Messrs Zainal Abidin & Co to file an Appeal at the Court of Appeal against the said Judgement.

*note : KPJ closed at RM 7.25 on friday 26.7.2013

Grand-Flo 2013 Quarter 1 Report

Grand-Flo 2012 annual report - exerpt

My Portfolio 2013

27 July 2013

1. INSAS
2. MNRB
3. PMCORP
4. PRKCORP
5. OSKVI
6. ANALABS
7. LCTH
8. GRANDFLO
9. EFORCE

Bloomberg News

Palm Oil Tumbles to Lowest Since 2009 as Global Supplies Climb

July 24, 2013

Palm, the most-used cooking oil, sank to the lowest level since 2009 as global supplies expand to a record and demand rises at the slowest pace in more than a decade. Soybean oil dropped to the lowest since 2010.

Futures fell 1.6 percent to 2,222 ringgit ($698) a metric ton on the Bursa Malaysia Derivatives in Kuala Lumpur, the lowest close for the most-active contract since November 2009. Prices plunged 24 percent in the past year.

World stockpiles of the oil used in everything from candy to biofuel are set to surge 21 percent to a record 9.5 million tons by the end of the 2013-2014 year, as demand expands 4.4 percent, the least in 12 years, U.S. Department of Agriculture data show. Rising supplies of the more expensive soybean oil are adding to the glut, with U.S. growers set to reap their biggest-ever crop starting September.

“The overall bearish sentiment which is currently in play will only be accelerated as the production cycle increases for palm oil,” said Gnanasekar Thiagarajan, a director at Commtrendz Risk Management Services Pvt. in Mumbai. “There are no supportive demand factors at all.”

Palm production, accounting for 35 percent of cooking oil supply, will expand 5 percent to 58.1 million tons in 2013-2014, USDA data show. Output doubled over the previous decade, led by Indonesia and Malaysia. The predicted stockpiles are equal to 17 percent of demand, the highest level since 1989, data compiled by Bloomberg show.

Fifth Year

Supplies of soybean oil, the second most-consumed edible variety, will rise to a record for a fifth year and reach 44.6 million tons, the USDA predicts. The lack of any significant hot weather for the U.S. Midwest during the next 10 days will favor soybeans, DTN said in a report yesterday.

Soybean oil for delivery in December fell as much as 0.4 percent to 44.51 cents a pound on the Chicago Board of Trade, the lowest level for the most active contract since October 2010, before trading at 44.60 cents. Soybeans for delivery in November climbed 0.4 percent to $12.65 a bushel.

Refined palm oil for January delivery lost 1.2 percent to close at 5,568 yuan ($908) a ton on the Dalian Commodity Exchange, the lowest close for the most-active contract since July 2009. Soybean oil fell 1 percent to end at 7,244 yuan.