Saturday, May 18, 2013
...Now, of course, when the market is starting to look easy, everyone thinks they are an expert or a genius.
Congratulations for beating large-cap mutual fund managers over a few weeks, but until you have done it for a few hundred more, let’s ascribe your “success” to luck, and not double-down on the chances that your hot streak continues. It’s not just students, proud parents and others who are bragging about great returns, it’s a lot of investors claiming vindication.
And while the consensus among market watchers I talk with is that there’s plenty of room for the market to run now — though most would like to see a reset to knock valuations down a bit — the lesson that investors young and old should be taking out of current market conditions is not so much about “some strategies can beat the market for a little while” as it is that “good investors minimize their mistakes.”
Whether you are talking about the Stock Market Game or playing the stock market in real life, there’s a lesson that investors need to keep in mind at times like these: Don’t confuse a bull market with brilliance. Sure, the game teaches folks that they can beat the market. But it’s only a few participants — in the game or the real thing — that do. What real life proves is that you’re probably better off if you forget about “beating the market” for any long stretch of time, and simply make sure you are participating in it — with a balanced, cautious, diversified approach — for a lifetime."...read more
[By Chuck Jaffe - a senior MarketWatch columnist]
Wednesday, May 15, 2013
IOIC proposes to dispose its entire equity interest in IOI Properties Bhd and its subsidiaries, associated companies and jointly controlled entities to ListCo for RM9.769 billion to be satisfied with the issuance of up to 2.189 billion new shares in ListCo.
...dispose other subsidiaries that are involved in property-related business to ListCo for RM2.630 billion to be satisfied with the issuance of up to 589.269 million new ListCo shares.
...dispose two parcels of agriculture land in Negri Sembilan and Johor totalling 711 hectares to ListCo for RM276.2 million to be satisfied with up to 61.891 million new ListCo shares.
...acquire 10 per cent equity interest in Property Village Bhd and 10 per cent equity interest in Property Skyline Sdn Bhd from Summervest Sdn Bhd for RM196.345 million to be satisfied with issuance of up to 43.997 million ListCo shares.
...proposed capitalisation of about RM1.8 billion, being the amount owed by IOI Properties and other property companies to IOIC Group by way of issuance of up to 403.345 million ListCo shares to IOIC.
...proposed to distribute up to 2.162 billion ListCo shares by way of distribution in specie on the basis of 1 ListCo shares for every 3 shares held in IOIC.
...proposed a non-renounceable restricted offer for sale of all the remaining ListCo Shares to be held by IOIC after the proposed distribution amounting to 1.081 billion ListCo shares on the basis of 1 ListCoshares for every 6 IOIC held at an offer price to be determined later...[read more]
I am expecting the re-listing of IOI Properties to re-vitalize interest in the overall property sector. Hence, I have applied for some Matrix Concepts Holdings Bhd IPO shares. I have not applied for any IPO in the past few years and this is the first time I'm doing it online...so very simple and convenient!
"Kenanga Investment Research has pegged Matrix Concepts' fair value at RM2.75, which is 55 sen above the offer price of RM2.20.
It had on Friday recommended investors subscribe for the shares of the Seremban-based property developer which has a market capitalisation of RM660mil.
Matrix Concepts owns 2,355 acres or a total gross development value (GDV) of RM6.5bil which provides visibility of up to 2019.
Kenanga Research said the major driver, Bandar Sri Sendayan, Seremban is a beneficiary of increasing demand for affordable homes in the Greater Klang Valley. It said Bandar Sri Sendayan also has economic growth angles given its Sendayan Tech Valley (STV) which attracts a range of FDIs in the light-to-medium industrial space.
“The stock offers attractive FY13-14E dividend yields of 8.1%-9.0% based on its dividend policy of 40% payout of profit after tax.
We peg Matrix's fair value at RM2.75 based on a conservative 40% discount to our discounted cashflow-driven FD realised net asset value (RNAV) of RM4.56,”...[read more]
Friday, May 10, 2013
|Type of transaction||Date of change|
No of securities
Price Transacted (RM)
|Circumstances by reason: of which change has occurred||Long Term Investment|
|Nature of interest||Direct|
The Luxembourg-based HALLEY SICAV-HALLEY ASIAN PROSPERITY Fund has acquired 2,635,000 shares (about 6%) in Bright Packaging Industry Berhad due to the reason - "Good feelings on this company. We find it interesting to hold it in our portfolio".
Wednesday, May 8, 2013
Tan Teng Boo, CEO at Capital Dynamics Asset Management Sdn. Bhd talks about:
-relief rally turning out to be more of a knee-jerk reaction
- expectations of the market for the next quarter
- politically-linked industries - construction, oil & gas and property sectors widely touted as the winners to watch. what he's watching closely for upside
- certainty of BN rule for the next five years - but has it created MORE uncertainty?
- foreign investors' perception of Malaysia post General Elections