（吉隆坡20日讯）由于全球经济不明朗、中国通货膨胀上升且政府可能进一步收紧货币政策，加上市场被担忧气氛笼罩着，导致周五的亚太股市收市时普遍走低。
基准上证综合指数收盘下跌1.11点至2858.46点，跌幅0.04%。该指数本周累计下跌0.4%。深证综合指数下跌0.4%至1192.66点。
港股全日窄幅上落，最多升79点，恒生指数收市报23199点升36.01点，成交577亿港元，比上日少8%。国企指数报12947点升12点。
美股周四收红，台股却仿佛陷入520魔咒中，今日早盘虽以红盘开出，盘面上以金融股及电子题材股表现为主，可惜在买盘不继下，指数震荡翻黑，撑盘的金融股、电子股也翻黑，中概股在卖压出笼下跌势相对沉重，盘中最低下探至8822.75点，终场则以8837.03点作收，下跌55.85点或0.63%，成交953亿9900万新台币。
由于未有利好消息的带动，东京股市也随外围股市下跌，日经225项平均指数收市时降13.74点或0.14%报9607.08点。
韩国成分指数涨15.99点或0.76%至2111.50点，澳洲交所普通股指数降20.50点或是0.42%挂4807.70点。
新加坡海峡时报指数跌4.02点或0.13%报3168.54点，泰国SET指数微降4.56点或0.42%至1072.94点。印尼雅加达综指挺涨13.14点或0.34%挂3872.95点，菲律宾PSE综指降12.77点或0.30%至4285.16点，越南胡志明股票指数跌11.98点或2.69%至432.87点。
Saturday, May 21, 2011
Friday, May 20, 2011
JCY Q2 pre-tax profit drops to RM12.5m
JCY International Bhd's pre-tax profit for the second quarter ended March 31, 2011 dropped to RM12.52 million from RM66.23
million in the same period last year.
Revenue also decreased to RM397.43 million from RM549.69 million previously, the company said in a filing to Bursa Malaysia today.
For the six-month period, the company's pre-tax profit fell to RM20.08 million from RM144.02 million while revenue fell to RM836.34 million from RM1.08 billion.
It said the lower revenue was due to depreciating US dollar against ringgit and lower volume of components sold for the current quarter as a result of weaking global demand for Hard Disk Drive (HDD).
The lower pre-tax was mainly due to increase in the cost of production resulting from increase in the cost of raw materials like aluminium and stainless steel and also increase in labour cost, it added.
million in the same period last year.
Revenue also decreased to RM397.43 million from RM549.69 million previously, the company said in a filing to Bursa Malaysia today.
For the six-month period, the company's pre-tax profit fell to RM20.08 million from RM144.02 million while revenue fell to RM836.34 million from RM1.08 billion.
It said the lower revenue was due to depreciating US dollar against ringgit and lower volume of components sold for the current quarter as a result of weaking global demand for Hard Disk Drive (HDD).
The lower pre-tax was mainly due to increase in the cost of production resulting from increase in the cost of raw materials like aluminium and stainless steel and also increase in labour cost, it added.
Tuesday, May 17, 2011
屋价上扬贡献大 产业股盈利展望看俏
（吉隆坡16日讯）券商认为，产业抗通胀的特性、本地人口相对年轻，以及银行与发展商提供优惠配套等因素，将是产业价格扬升，进而利惠产业市场。
丰隆研究表示，建材价格高涨；加上本地的资金充裕，使具抗通胀特性的产业需求增加，带动产业价格高升，而这将使发展商的销售额及盈利上扬。在巴生谷一带，高捷工程激励蕉赖及加影产业发展商；柔佛方面则受到新马的关系改善而带动；至于槟城方面，土地贫乏但其产业二手市场活络；这些因素皆将带动产业价格上涨。
分析员指出，大多产业发展商（特别是小资本型业者）已被低估，并以重估净资产值显著折价进行交易；而获得大型工程的中小型发展商将是该领域的超越大市者，如高美达（Glomac，5020，产业组）和顺利实业（KSL，5038，产业组）。
此外，完成合并后的大型产业发展商，如马友乃德置地（UEMLand，5148，产业组）及阳光（Sunrise）、双威控股（Sunway，4308，建筑组）及双威城（Suncity，6289，产业组）等的出现，加上UOA发展的上市计划，都将重新激励投资者对产业股项的购兴。
尽管如此，原料价格和地价继续攀升，将侵蚀产业发展商的赚幅。
丰隆研究基于产业价呈上升趋势、加上高捷工程及雇员公积金局旗下双溪毛糯发展计划，为产业领域提供长期的催化激励作用，进而给予该领域“超越大市”评级。
该行首选高美达及顺利实业，分别给予两家公司2.40令吉及2.11令吉的目标价。两者皆获“买入”评级。
丰隆研究表示，建材价格高涨；加上本地的资金充裕，使具抗通胀特性的产业需求增加，带动产业价格高升，而这将使发展商的销售额及盈利上扬。在巴生谷一带，高捷工程激励蕉赖及加影产业发展商；柔佛方面则受到新马的关系改善而带动；至于槟城方面，土地贫乏但其产业二手市场活络；这些因素皆将带动产业价格上涨。
分析员指出，大多产业发展商（特别是小资本型业者）已被低估，并以重估净资产值显著折价进行交易；而获得大型工程的中小型发展商将是该领域的超越大市者，如高美达（Glomac，5020，产业组）和顺利实业（KSL，5038，产业组）。
此外，完成合并后的大型产业发展商，如马友乃德置地（UEMLand，5148，产业组）及阳光（Sunrise）、双威控股（Sunway，4308，建筑组）及双威城（Suncity，6289，产业组）等的出现，加上UOA发展的上市计划，都将重新激励投资者对产业股项的购兴。
尽管如此，原料价格和地价继续攀升，将侵蚀产业发展商的赚幅。
丰隆研究基于产业价呈上升趋势、加上高捷工程及雇员公积金局旗下双溪毛糯发展计划，为产业领域提供长期的催化激励作用，进而给予该领域“超越大市”评级。
该行首选高美达及顺利实业，分别给予两家公司2.40令吉及2.11令吉的目标价。两者皆获“买入”评级。
EON Cap declares dividend of RM5.16 per share
KUALA LUMPUR: EON CAPITAL BHD [] has declared a special tax exempt dividend of RM5.16 per share.
It said on Monday, May 16 the dividend will go ex on June 9 while the entitlement date is June 13.
It said on Monday, May 16 the dividend will go ex on June 9 while the entitlement date is June 13.
Monday, May 16, 2011
首季经济数据出炉 投资者谨慎入市
（吉隆坡15日讯）马股市本周看点是首季经济数据和4月份通胀率，有关数据将左右投资情绪，影响大盘走势。
美国上周连续两周收跌，加上周二（17日）卫塞节马股休市，全周仅4个交易日，分析师预计，该周走势或疲软，缺乏上升动力，投资焦点或分散在特定股项，非整体投资情绪或改善。
新股亮相
国家银行将在周二召开记者会，总裁丹斯里哲蒂博士亲自宣布首季经济数据，市场普遍预测，由于日本强震在首季后阶段，其冲击尚未完全反映在首季经济表现，估计成长率超出4%。
不过，通胀仍是我国经济发展的大敌，下半年要增长稳定，必须依靠经济转型执行方案的大型工程，和强劲的民间消费支撑。
宣布首季经济数据当天，统计局亦将一同公布4月消费价格指数（又称通胀率）。3月通胀率扬高至3%，创下23个月新高，市场较为担心是，非食品价格也已腾涨，面对沉重的通胀压力。
另外，马股本周有数亮点，包括新股超额认购达315倍的捷卡控股（IJACOBS），将在18日上市创业板，每股发售价27仙。
该公司发售3000万新股，其中200万股供公众认购，2800万股私下配售给指定投资者。
马石油（Petronas）上周五宣布，投资200亿美元（约600亿令吉）在柔佛兴建提炼和石油化工综合中心，石油天然气类股将持续受到市场关注。
与国贸资本（EONCAP，5266，主要板金融）完成并购的丰隆银行（HLBANK，5819，主要板金融），上周每天创纪录新高，全周劲涨2令吉，是否本周继续延烧，就得看它的承接力有多强。
上周，富马隆综指全周累积扬升25.24点，报1540.74点，本周料重探15550点。
各板成交表现 5月9日至14日
5月2日至7日 总成交量（股） 总成交值
（令吉）总成交量（股）总成交值
（令吉） 主要板 34亿4000万 65亿9000万 29亿5000万 52亿2000万
创业板 8亿5694万 2亿2153万 7亿2794万 1亿8318万
总计 42亿9694万 68亿1153万 36亿7794万 54亿318万
海外股市闭市起落
纽约道琼斯指数 12,595.80 -100.17
伦敦金融时报100项股 5,925.87 -19.09
美国上周连续两周收跌，加上周二（17日）卫塞节马股休市，全周仅4个交易日，分析师预计，该周走势或疲软，缺乏上升动力，投资焦点或分散在特定股项，非整体投资情绪或改善。
新股亮相
国家银行将在周二召开记者会，总裁丹斯里哲蒂博士亲自宣布首季经济数据，市场普遍预测，由于日本强震在首季后阶段，其冲击尚未完全反映在首季经济表现，估计成长率超出4%。
不过，通胀仍是我国经济发展的大敌，下半年要增长稳定，必须依靠经济转型执行方案的大型工程，和强劲的民间消费支撑。
宣布首季经济数据当天，统计局亦将一同公布4月消费价格指数（又称通胀率）。3月通胀率扬高至3%，创下23个月新高，市场较为担心是，非食品价格也已腾涨，面对沉重的通胀压力。
另外，马股本周有数亮点，包括新股超额认购达315倍的捷卡控股（IJACOBS），将在18日上市创业板，每股发售价27仙。
该公司发售3000万新股，其中200万股供公众认购，2800万股私下配售给指定投资者。
马石油（Petronas）上周五宣布，投资200亿美元（约600亿令吉）在柔佛兴建提炼和石油化工综合中心，石油天然气类股将持续受到市场关注。
与国贸资本（EONCAP，5266，主要板金融）完成并购的丰隆银行（HLBANK，5819，主要板金融），上周每天创纪录新高，全周劲涨2令吉，是否本周继续延烧，就得看它的承接力有多强。
上周，富马隆综指全周累积扬升25.24点，报1540.74点，本周料重探15550点。
各板成交表现 5月9日至14日
5月2日至7日 总成交量（股） 总成交值
（令吉）总成交量（股）总成交值
（令吉） 主要板 34亿4000万 65亿9000万 29亿5000万 52亿2000万
创业板 8亿5694万 2亿2153万 7亿2794万 1亿8318万
总计 42亿9694万 68亿1153万 36亿7794万 54亿318万
海外股市闭市起落
纽约道琼斯指数 12,595.80 -100.17
伦敦金融时报100项股 5,925.87 -19.09
Thursday, May 12, 2011
國油斥500億柔建油氣中心‧油氣業成贏家‧產業和建築“沾光”
（吉隆坡11日訊）國家石油（PETRONAS）將宣佈投資500億令吉在柔佛邊佳蘭的綜合油氣和石化廣場，分析員看好這龐大的投資不但能帶動油氣業，也令產業和建築業同步受惠，而柔佛州也因此得利，成為區域油氣中心，加強吸資能力。
由於投資油氣業，因此油氣公司有望競標合約，不過，除了油氣，這計劃也有助提昇柔佛地帶的產業價值，同時也讓建築業在建築投標方面分一杯羹。
允跨國外資公司聯營
根據報導引述消息說，國油會週五宣佈的綜合廣場計劃，除了有比格底更龐大的石油提煉和石油化學廠，最終也包括跨國油氣公司作為聯營伙伴。除了油氣活動，這綜合中心也包括天然氣發電和其他支持工業。
這項計劃是經濟轉型計劃下的啟動檳城項目之一，選擇邊佳蘭，主要是這裡的水深26公尺，是東南亞最深的，檳城港口只有10至12公尺、巴生西港只有14至16公尺，而甘馬挽碼頭只有18公尺。
戴樂成油氣領域最大受惠者
分析員說，這項計劃最大的受惠領域當然是油氣業，國油的大手筆投資，已經成油氣業最大激素；由於這計劃之前已經由戴樂集團（DIALOG, 7277, 主板貿服組）透露，只是規模比預期龐大，因此，戴樂集團將是此計劃下油氣領域最大受惠者。
戴樂集團獲取的合約是50億令吉的石油槽終站計劃，這佔地500英畝的邊佳蘭站預期在2017年全面完工。
興業研究說，戴樂集團預料也可獲取更多電機、採購和建築工程；其他主要受惠公司包括鵬達集團（PANTECH, 5125, 主板貿服組）和科恩馬集團（KNM, 7164, 主板工業產品組）。
大馬研究認為，在電機、採購和建築合約方面，其他投標者包括肯油企業（KENCANA, 5122, 主板貿服組）、丹絨岸外（TGOFFS, 7228, 主板貿服組）、睦興旺工程（MUHIBAH, 5703, 主板建筑組）和科恩馬集團。
國油化學國油氣體可分杯羹
馬銀行研究則預料國油化學（PCHEM, 5183, 主板工業產品組）和國油氣體（PETGAS, 6033, 主板工業產品組）也是大贏家。
國油氣體會因為供應氣體給新建天然氣發電廠而得利；至於國油化學會因稍後對石化需求增加，以及產能擴充而受惠。
柔佛吸資能力加強
聯昌研究認為，油氣領域當然得利最多，但是柔佛州也受惠不淺，有了這項龐大投資案，柔佛南部將成油氣和石化重鎮，有助吸引這方面的投資，包括外資跨國公司的前來；同時，柔佛毗鄰新加坡，新加坡是全球繼續倫敦和紐約後的第三大貿易中心，但土地有限，並且產業極之昂貴，可能部份投資者會選擇一堤之隔，但成本比較低的柔佛。
國油的這項油氣石化綜合廣場，歡迎外資加入，據知會與新加坡裕廊石化中心相當相似。
建築業分一杯羹
達證券表示，建築業也會因為這項500億投資案而分到甜頭，因為開發邊佳蘭，很許多土木工程，諸如道路、基建和大廈等。
不過，從過往記錄顯示，油氣計劃的土木工程通常落在中小型的建築公司，有兩家中型建築公司曾有油氣建築合約記錄，第一家是涉及沙巴油氣終站計劃的納因控股（NAIM, 5073, 主板產業組）；另一家是計劃參與汶萊油氣提煉廠的TRC協作（TRC, 5054, 主板建筑組）。
金輪佔地主之便受惠
金輪企業（KIMLUN, 5171, 主板建筑組）是柔佛公司，佔了“地主”之便，也會受惠；其他有能力提供電機建築工程而有望受惠的建築公司包括成榮集團（MUDAJYA, 5085, 主板建筑組）、睦興旺工程、聯熹（RANHILL, 5030, 主板建筑組）和吉朗（ZELAN, 2283, 主板建筑組）。
柔產業公司得利
馬銀行研究也看好產業公司可以因為柔佛州的進一步發展而得利，特別是在柔佛有產業計劃的公司，其中一家在邊佳蘭有龐大地庫的公司是馬化控股（MPHB, 3859, 主板貿服組），這地庫佔地4千641英畝，如果以4億6千900萬令吉脫售，可以獲利3億9千萬令吉。
怡保置地（IJMLAND, 5215, 主板產業組）在鄰近的SEBANA COVE有70%股權，有關土地達1千188英畝，計劃一項10年產業發展計劃，發展總值為14億令吉，產業價格在國油投資後，有望水漲船高。
由於投資油氣業，因此油氣公司有望競標合約，不過，除了油氣，這計劃也有助提昇柔佛地帶的產業價值，同時也讓建築業在建築投標方面分一杯羹。
允跨國外資公司聯營
根據報導引述消息說，國油會週五宣佈的綜合廣場計劃，除了有比格底更龐大的石油提煉和石油化學廠，最終也包括跨國油氣公司作為聯營伙伴。除了油氣活動，這綜合中心也包括天然氣發電和其他支持工業。
這項計劃是經濟轉型計劃下的啟動檳城項目之一，選擇邊佳蘭，主要是這裡的水深26公尺，是東南亞最深的，檳城港口只有10至12公尺、巴生西港只有14至16公尺，而甘馬挽碼頭只有18公尺。
戴樂成油氣領域最大受惠者
分析員說，這項計劃最大的受惠領域當然是油氣業，國油的大手筆投資，已經成油氣業最大激素；由於這計劃之前已經由戴樂集團（DIALOG, 7277, 主板貿服組）透露，只是規模比預期龐大，因此，戴樂集團將是此計劃下油氣領域最大受惠者。
戴樂集團獲取的合約是50億令吉的石油槽終站計劃，這佔地500英畝的邊佳蘭站預期在2017年全面完工。
興業研究說，戴樂集團預料也可獲取更多電機、採購和建築工程；其他主要受惠公司包括鵬達集團（PANTECH, 5125, 主板貿服組）和科恩馬集團（KNM, 7164, 主板工業產品組）。
大馬研究認為，在電機、採購和建築合約方面，其他投標者包括肯油企業（KENCANA, 5122, 主板貿服組）、丹絨岸外（TGOFFS, 7228, 主板貿服組）、睦興旺工程（MUHIBAH, 5703, 主板建筑組）和科恩馬集團。
國油化學國油氣體可分杯羹
馬銀行研究則預料國油化學（PCHEM, 5183, 主板工業產品組）和國油氣體（PETGAS, 6033, 主板工業產品組）也是大贏家。
國油氣體會因為供應氣體給新建天然氣發電廠而得利；至於國油化學會因稍後對石化需求增加，以及產能擴充而受惠。
柔佛吸資能力加強
聯昌研究認為，油氣領域當然得利最多，但是柔佛州也受惠不淺，有了這項龐大投資案，柔佛南部將成油氣和石化重鎮，有助吸引這方面的投資，包括外資跨國公司的前來；同時，柔佛毗鄰新加坡，新加坡是全球繼續倫敦和紐約後的第三大貿易中心，但土地有限，並且產業極之昂貴，可能部份投資者會選擇一堤之隔，但成本比較低的柔佛。
國油的這項油氣石化綜合廣場，歡迎外資加入，據知會與新加坡裕廊石化中心相當相似。
建築業分一杯羹
達證券表示，建築業也會因為這項500億投資案而分到甜頭，因為開發邊佳蘭，很許多土木工程，諸如道路、基建和大廈等。
不過，從過往記錄顯示，油氣計劃的土木工程通常落在中小型的建築公司，有兩家中型建築公司曾有油氣建築合約記錄，第一家是涉及沙巴油氣終站計劃的納因控股（NAIM, 5073, 主板產業組）；另一家是計劃參與汶萊油氣提煉廠的TRC協作（TRC, 5054, 主板建筑組）。
金輪佔地主之便受惠
金輪企業（KIMLUN, 5171, 主板建筑組）是柔佛公司，佔了“地主”之便，也會受惠；其他有能力提供電機建築工程而有望受惠的建築公司包括成榮集團（MUDAJYA, 5085, 主板建筑組）、睦興旺工程、聯熹（RANHILL, 5030, 主板建筑組）和吉朗（ZELAN, 2283, 主板建筑組）。
柔產業公司得利
馬銀行研究也看好產業公司可以因為柔佛州的進一步發展而得利，特別是在柔佛有產業計劃的公司，其中一家在邊佳蘭有龐大地庫的公司是馬化控股（MPHB, 3859, 主板貿服組），這地庫佔地4千641英畝，如果以4億6千900萬令吉脫售，可以獲利3億9千萬令吉。
怡保置地（IJMLAND, 5215, 主板產業組）在鄰近的SEBANA COVE有70%股權，有關土地達1千188英畝，計劃一項10年產業發展計劃，發展總值為14億令吉，產業價格在國油投資後，有望水漲船高。
Wednesday, May 11, 2011
陈庆炎：美债券若失AAA评级，全球或再面对经济危机
新加坡政府投资公司（GIC）副主席兼执行董事陈庆炎博士指出，假设全球零风险的资产，如美国债券在被恐慌抛售的情况下，失去其AAA的信贷评级，那么全球可能面对另一次严重的金融和经济危机。
陈庆炎博士是在新加坡政府投资公司的30周年大会上演讲时，作出上述表示。
信贷评级机构标准普尔上个月虽保留了美国债券的AAA评级，但却下调了它的长期展望——从“平稳”调整到“负面”。标准普尔也警告，在接下来的两年内，它有33％的可能性会调低美国债券的评级。
李总理：各经济体面对自身问题
另两家评级机构对美国债券的评级展望则保持“平稳”。
在大会上担任嘉宾的李显龙总理也指出，全球经济目前已处于比较稳定的状态，但各个经济体也面对了自身的问题。
他认为，主要经济体正踏上缓慢复苏的道路，但随时爆发的风险还是存在的，一些长期问题也还无法解决。例如：美国需要处理财政赤字的问题，除了为债务融资，也将影响美元的币值。
李显龙总理相信，若以稳定为前提，最好的做法是逐渐迈向一个多货币的世界。
陈庆炎博士也表示，尽管全球金融危机已过去，今年的经济展望看似比过去几年强健，但危机后的主要结构问题依然存在。例如：主要经济体的高负债水平、全球收支不平衡、美国和欧洲屡降不下的高失业率、欧洲经济与货币联盟（EMU）的主权债务危机、以及新兴市场的通胀和资产价格泡沫风险。此外，中东的事件也再一次提醒人们，地缘政治也会造成影响。
他说：“未来的经济和投资环境看似不寻常地不确定。”
他指出，新兴市场在中国和印度的带领下，也空前迅速地崛起，除了带来更复杂的全球关系和竞争，也提高了对全球国际政策协调的需求。
陈庆炎博士说：“自冷战结束后，地缘政治目前的风险和政策上‘失足’的可能性比任何时候都高。”
李总理也指出，亚洲的展望是正面的，但中国面对的问题，包括快速城市化和如何重新平衡经济，将重心从出口为导向的增长，转向促进消费。印度在改革开放方面则面对了局限。
整体来说，他认为，东南亚算是平稳的，各国则都有自己的问题，尽管亚细安未必能在2015年达到区域经济一体化目标，但届时应已取得显著进展，创造了一个联系更强的亲商领域。
GIC是在1981年5月成立的，主要管理和投资新加坡的外汇储备。目前，它在全球九个办事处共有超过1000名职员，投资遍布全球40多个国家，总投资额超过1000亿美元。
过去30年，GIC的投资从证券、固定收益产品和房地产，扩大到今天包含私募基金、商品、对冲基金及与通胀挂钩的债券。
昨天的大会是为了纪念GIC在过去30年，如何披荆斩棘，安然航过金融危机、资产泡沫、地缘政治动荡和金融市场巨变。
在金融海啸期间，GIC的投资组合在2009年3月底时损失了超过20％。但在去年9月发表的年报中，GIC已迅速回弹，并指出，截至去年3月底取得的增长，已抵销了大部分损失。在截至去年3月底的20年里，GIC每年平均取得比环球通胀率高出3.8％的实际回报率，一年前为2.6％，如果不经通胀调整，以美元计算的平均名义年回报率为7.1％，一年前为5.7％。
超过800名GIC的全球商业伙伴、客户、董事、本地金融业成员和一些主权财富基金出席了昨天的大会和晚宴。
大会围绕三个主题进行——全球展望及对投资的意义、全球投资经理如何应付危机后的环境、以策略意义来看，新兴市场是否还吸引人？
与会嘉宾也包括了财政部长尚达曼。大会主要是以闭门会议方式进行，不开放给媒体采访。
陈庆炎博士是在新加坡政府投资公司的30周年大会上演讲时，作出上述表示。
信贷评级机构标准普尔上个月虽保留了美国债券的AAA评级，但却下调了它的长期展望——从“平稳”调整到“负面”。标准普尔也警告，在接下来的两年内，它有33％的可能性会调低美国债券的评级。
李总理：各经济体面对自身问题
另两家评级机构对美国债券的评级展望则保持“平稳”。
在大会上担任嘉宾的李显龙总理也指出，全球经济目前已处于比较稳定的状态，但各个经济体也面对了自身的问题。
他认为，主要经济体正踏上缓慢复苏的道路，但随时爆发的风险还是存在的，一些长期问题也还无法解决。例如：美国需要处理财政赤字的问题，除了为债务融资，也将影响美元的币值。
李显龙总理相信，若以稳定为前提，最好的做法是逐渐迈向一个多货币的世界。
陈庆炎博士也表示，尽管全球金融危机已过去，今年的经济展望看似比过去几年强健，但危机后的主要结构问题依然存在。例如：主要经济体的高负债水平、全球收支不平衡、美国和欧洲屡降不下的高失业率、欧洲经济与货币联盟（EMU）的主权债务危机、以及新兴市场的通胀和资产价格泡沫风险。此外，中东的事件也再一次提醒人们，地缘政治也会造成影响。
他说：“未来的经济和投资环境看似不寻常地不确定。”
他指出，新兴市场在中国和印度的带领下，也空前迅速地崛起，除了带来更复杂的全球关系和竞争，也提高了对全球国际政策协调的需求。
陈庆炎博士说：“自冷战结束后，地缘政治目前的风险和政策上‘失足’的可能性比任何时候都高。”
李总理也指出，亚洲的展望是正面的，但中国面对的问题，包括快速城市化和如何重新平衡经济，将重心从出口为导向的增长，转向促进消费。印度在改革开放方面则面对了局限。
整体来说，他认为，东南亚算是平稳的，各国则都有自己的问题，尽管亚细安未必能在2015年达到区域经济一体化目标，但届时应已取得显著进展，创造了一个联系更强的亲商领域。
GIC是在1981年5月成立的，主要管理和投资新加坡的外汇储备。目前，它在全球九个办事处共有超过1000名职员，投资遍布全球40多个国家，总投资额超过1000亿美元。
过去30年，GIC的投资从证券、固定收益产品和房地产，扩大到今天包含私募基金、商品、对冲基金及与通胀挂钩的债券。
昨天的大会是为了纪念GIC在过去30年，如何披荆斩棘，安然航过金融危机、资产泡沫、地缘政治动荡和金融市场巨变。
在金融海啸期间，GIC的投资组合在2009年3月底时损失了超过20％。但在去年9月发表的年报中，GIC已迅速回弹，并指出，截至去年3月底取得的增长，已抵销了大部分损失。在截至去年3月底的20年里，GIC每年平均取得比环球通胀率高出3.8％的实际回报率，一年前为2.6％，如果不经通胀调整，以美元计算的平均名义年回报率为7.1％，一年前为5.7％。
超过800名GIC的全球商业伙伴、客户、董事、本地金融业成员和一些主权财富基金出席了昨天的大会和晚宴。
大会围绕三个主题进行——全球展望及对投资的意义、全球投资经理如何应付危机后的环境、以策略意义来看，新兴市场是否还吸引人？
与会嘉宾也包括了财政部长尚达曼。大会主要是以闭门会议方式进行，不开放给媒体采访。
Tuesday, May 10, 2011
OSK Research maintains Buy on Salcon, FV 72 sen
KUALA LUMPUR: OSK Research is maintaining its fair value for Salcon at 72 sen pending its disclosure of more details of the industrial wastewater treatment plant (IWTP) in China.
OSK Research said on Tuesday, March 22 Salcon's subsidiary Salcon Changzhou (HK) Ltd secured a 30 million litres per day IWTP concession in Jiangsu Province, China. The concession period is for 30 years upon the signing of the agreement with Jiangsu Province and will be acquired via a transfer-operate-transfer (T-O-T) basis.
The acquisition is priced at 60 million renminbi, or about RM27.7 million (as of March 9, 2011 based on RM1 vs 2.1659 renminbi).
'Pending the disclosure of more salient terms (especially on the cost structure) on the IWTP, we maintain our FV for Salcon at 72 sen. Riding on the company's growing portfolio of water concessions in China, we also maintain our BUY recommendation on the stock. Securing the latest concession enhances the stock's FV,' it said.
OSK Research said on Tuesday, March 22 Salcon's subsidiary Salcon Changzhou (HK) Ltd secured a 30 million litres per day IWTP concession in Jiangsu Province, China. The concession period is for 30 years upon the signing of the agreement with Jiangsu Province and will be acquired via a transfer-operate-transfer (T-O-T) basis.
The acquisition is priced at 60 million renminbi, or about RM27.7 million (as of March 9, 2011 based on RM1 vs 2.1659 renminbi).
'Pending the disclosure of more salient terms (especially on the cost structure) on the IWTP, we maintain our FV for Salcon at 72 sen. Riding on the company's growing portfolio of water concessions in China, we also maintain our BUY recommendation on the stock. Securing the latest concession enhances the stock's FV,' it said.
Dialog rises on possible marginal oilfield jobs
KUALA LUMPUR: DIALOG GROUP BHD [] shares advanced on Tuesday, May 10 after The Edge FinancialDaily reported that the company and its Australian partner Roc Oil were on the verge of bagging the marginal oilfield projects from Petroliam Nasional Bhd (Petronas) for Balai and Bentara fields, located off the coast of Sarawak.
At 9.30am, Dialog was up three sen to RM2.55 with 330.600 shares traded.
CIMB Equities Research has maintained its sum-of-parts target price of RM2.67 for Dialog and also its earnings per share (EPS) forecasts.
It was commenting on the article that suggested that the JV between Dialog and Australia's Roc Oil was set to secure the risk sharing contract (RSC) for the development of the Balai and Bentara marginal fields.
'The RSC would mark new milestones for both companies ' upstream diversification for Dialog and a Malaysian debut for Roc,' it said.
CIMB Research said assuming that 1) Dialog has the minimum 30% stake in the JV, and 2) other terms are similar to those for the Berantai marginal field, Dialog's FY6/12-13 EPS could be boosted by 8-9%.
'The fees from oil production will be realised beyond our forecast period. Dialog remains an OUTPERFORM, with the potential re-rating triggers being 1) announcement of the marginal field development, and 2) new markets, i.e. Saudi Arabia,' it said
At 9.30am, Dialog was up three sen to RM2.55 with 330.600 shares traded.
CIMB Equities Research has maintained its sum-of-parts target price of RM2.67 for Dialog and also its earnings per share (EPS) forecasts.
It was commenting on the article that suggested that the JV between Dialog and Australia's Roc Oil was set to secure the risk sharing contract (RSC) for the development of the Balai and Bentara marginal fields.
'The RSC would mark new milestones for both companies ' upstream diversification for Dialog and a Malaysian debut for Roc,' it said.
CIMB Research said assuming that 1) Dialog has the minimum 30% stake in the JV, and 2) other terms are similar to those for the Berantai marginal field, Dialog's FY6/12-13 EPS could be boosted by 8-9%.
'The fees from oil production will be realised beyond our forecast period. Dialog remains an OUTPERFORM, with the potential re-rating triggers being 1) announcement of the marginal field development, and 2) new markets, i.e. Saudi Arabia,' it said
KrisAssets 1Q net profit up 31% to RM35.44m
KUALA LUMPUR: KRISASSETS HOLDINGS BHD [] posted net profit of RM35.44 million in the first quarter ended March 31, 2011, which was a 31.2% increase from the RM27.01 million a year ago, mainly due to higher total rental income and lower finance and utility costs in the current quarter.
It said on Monday, May 9 the revenue increased by 7.7% to RM63.46 million from RM58.89 million. Earnings per share were 8.17 sen compared with 8.02 sen.
'For the current quarter ended March 31, 2011, the group's revenue, reflecting mainly the operations of Mid Valley Megamall, increased by 7.81% to RM63.5 million, compared with the corresponding period of RM58.9 million in 2010. This was mainly due to higher total rental income,' it said.
KrisAssets said pre-tax profit rose 27.8% to RM46.9 million compared with pre-tax profit of RM36.7 million a year ago.
When compared with the immediate preceding quarter ended Dec 31, 2010, group's revenue of RM63.5 million was a 2.75% increase from RM61.8 million. This was mainly due to higher total rental income in current quarter.
'The group recorded a pre-tax profit for the current quarter ended March 31, 2011 of RM46.9 million, representing 56.33% decrease, compared with pre-tax profit of RM107.4 million in the immediate preceding quarter. This was mainly due to recognition of revaluation surplus of RM70 million as fair value gain on investment property in the immediate preceding quarter,' it said.
KrisAssets also disclosed it had borrowings of RM448.32 million as at March 31, 2011.
It said on Monday, May 9 the revenue increased by 7.7% to RM63.46 million from RM58.89 million. Earnings per share were 8.17 sen compared with 8.02 sen.
'For the current quarter ended March 31, 2011, the group's revenue, reflecting mainly the operations of Mid Valley Megamall, increased by 7.81% to RM63.5 million, compared with the corresponding period of RM58.9 million in 2010. This was mainly due to higher total rental income,' it said.
KrisAssets said pre-tax profit rose 27.8% to RM46.9 million compared with pre-tax profit of RM36.7 million a year ago.
When compared with the immediate preceding quarter ended Dec 31, 2010, group's revenue of RM63.5 million was a 2.75% increase from RM61.8 million. This was mainly due to higher total rental income in current quarter.
'The group recorded a pre-tax profit for the current quarter ended March 31, 2011 of RM46.9 million, representing 56.33% decrease, compared with pre-tax profit of RM107.4 million in the immediate preceding quarter. This was mainly due to recognition of revaluation surplus of RM70 million as fair value gain on investment property in the immediate preceding quarter,' it said.
KrisAssets also disclosed it had borrowings of RM448.32 million as at March 31, 2011.
AmFirst REIT 4Q net profit falls to RM14.42m
KUALA LUMPUR: AmFirst Real Estate Investment Trust net profit for the fourth quarter ended March 31, 2011 fell to RM14.42 million from RM23.53 million a year earlier, due mainly to reduction in occupancy rates and cessation of income guaranteed.
Revenue for the quarter fell to RM19.12 million from RM25.28 million in 2010. Earnings per unit was 3.36 sen while net assets per unit was RM1.41.
AmFirst declared a final income distribution of 4.94 sen per unit (of which 4.027 sen per unit is taxable and 0.913 sen per unit is tax exempt) in respect of the six-month period ended March 31, 2011.
For the financial year ended March 31, AmFirst's net profit decreased to RM43.36 million from RM54.06 million a year earlier on the back of revenue RM88.54 million.
Reviewing its performance, AmFirst said on Monday, May 9 that the realised income available for distribution was slightly lower by 4.3% due to cessation of guaranteed minimum net income for the Summit Subang USJ provided by Bounty Dynamics Sdn Bhd (Formerly known as Meda Development Sdn Bhd) and drop in average occupancy rate of Kelana Brem Towers and Menara Merais.
Office rental market remained soft and continues to be under pressure with average rental rates continue to experience downward pressure due to the anticipation of incoming new supply in the next few years, it said.
On its prospects, AmFirst said it expects to maintain its performance based on its current tenancy profile, diversity of the tenants mix and its continuous efforts on proactive asset enhancements and portfolio management for the financial year ending March 31, 2012.
Revenue for the quarter fell to RM19.12 million from RM25.28 million in 2010. Earnings per unit was 3.36 sen while net assets per unit was RM1.41.
AmFirst declared a final income distribution of 4.94 sen per unit (of which 4.027 sen per unit is taxable and 0.913 sen per unit is tax exempt) in respect of the six-month period ended March 31, 2011.
For the financial year ended March 31, AmFirst's net profit decreased to RM43.36 million from RM54.06 million a year earlier on the back of revenue RM88.54 million.
Reviewing its performance, AmFirst said on Monday, May 9 that the realised income available for distribution was slightly lower by 4.3% due to cessation of guaranteed minimum net income for the Summit Subang USJ provided by Bounty Dynamics Sdn Bhd (Formerly known as Meda Development Sdn Bhd) and drop in average occupancy rate of Kelana Brem Towers and Menara Merais.
Office rental market remained soft and continues to be under pressure with average rental rates continue to experience downward pressure due to the anticipation of incoming new supply in the next few years, it said.
On its prospects, AmFirst said it expects to maintain its performance based on its current tenancy profile, diversity of the tenants mix and its continuous efforts on proactive asset enhancements and portfolio management for the financial year ending March 31, 2012.
Higher tin prices boost Malaysia Smelting Corp 1Q profits
KUALA LUMPUR: MALAYSIA SMELTING CORPORATION [] Bhd posted net profit RM28.28 million for the first quarter ended March 31, 2011 compared to net loss RM29.13 million a year earlier, due mainly to higher tin prices.
Revenue for the quarter rose 13.3% to RM737.87 million from RM651.18 million. Earnings per share was 30.40 sen while net assets per share was RM3.89.
In a filing to Bursa Malaysia on Monday, May 9, MSC said the increase in net profit was due mainly to higher operating profits by its tin mining and smelting operations in Malaysia and Indonesia on the back of higher tin prices.
On its current year prospects, MSC said it expects its overall performance for 2011 to be better than last year.
Revenue for the quarter rose 13.3% to RM737.87 million from RM651.18 million. Earnings per share was 30.40 sen while net assets per share was RM3.89.
In a filing to Bursa Malaysia on Monday, May 9, MSC said the increase in net profit was due mainly to higher operating profits by its tin mining and smelting operations in Malaysia and Indonesia on the back of higher tin prices.
On its current year prospects, MSC said it expects its overall performance for 2011 to be better than last year.
Friday, May 6, 2011
國行升息0.25%‧銀行法定儲備率也上調1%
（吉隆坡5日訊）國家銀行感受到通膨揚升的壓力，今日宣佈把隔夜政策利率調漲0.25%，從現有的2.75%上調至3%；國行也宣佈從5月16日起，將銀行法定儲備率（SRR）從2%調升至3%。
國行今日在議息會議後發表文告指出，升息後，隔夜政策利率的下限與上限分別是2.75%及3.25%。
房貸車貸率料同步調高
配合國行今日的雙升息，預料國內商業銀行將宣佈調升基本貸款利率，這意味著房貸和車貸率可能同步調高；定存率也預料會調升，但升幅胥視銀行的決定。
調高SRR，顯示國行對熱錢湧入和家庭債高築的擔憂，預料銀行也會因為國行的雙升息行動，對放貸趨向謹慎。
國行透露，大馬經濟穩健成長，因此貨幣政策委員會決定調整貨幣政策至適當的水平。
“以現有的利率水平，仍可支撐成長。未來的貨幣政策是否調整胥視成長風險與通膨展望而定。”
國內通膨繼續攀升
國內通膨繼續攀升，3月份上揚至3%，今年首季平均為2.8%，主要是因為食品與燃料價格上漲。
“全球原產品及能源價格在今年料持續騰漲，主要貿易夥伴國的通膨料進一步揚升。”
國行表示，有跡象顯示，內需因素或加劇下半年的價格壓力。
國內經濟方面，最新的指標顯示，私人投資及私人消費在首季走強，出口表現也改善，主要獲得區域需求的支撐。
展望未來，大馬經濟評估保持穩健的成長步履，在今年其餘月份的成長會獲得堅定內需擴張的支撐。
“儘管全球經濟的復甦在未來料保持勢頭，但下調風險也在加劇中，主要來自高能源及高原產品價格、日本進展導致供應受阻以及新興經濟體的資金流動高度波動。”
上調SRR 1%
吸納70億過剩游資
另一方面，國行上調SRR，主要是防患未然，以管理顯著的游資，避免可能造成金融的失衡及威脅金融的穩定。
SRR每調高1%，將可吸納銀行體系過剩游資達70億令吉。
國行說，銀行法定儲備率是管理游資的一項工具，而非貨幣政策立場的訊號。隔夜政策利率是唯一充作貨幣政策立場訊號的指標，在每次的貨幣政策委員會會議後，發佈貨幣政策聲明。
國行今日在議息會議後發表文告指出，升息後，隔夜政策利率的下限與上限分別是2.75%及3.25%。
房貸車貸率料同步調高
配合國行今日的雙升息，預料國內商業銀行將宣佈調升基本貸款利率，這意味著房貸和車貸率可能同步調高；定存率也預料會調升，但升幅胥視銀行的決定。
調高SRR，顯示國行對熱錢湧入和家庭債高築的擔憂，預料銀行也會因為國行的雙升息行動，對放貸趨向謹慎。
國行透露，大馬經濟穩健成長，因此貨幣政策委員會決定調整貨幣政策至適當的水平。
“以現有的利率水平，仍可支撐成長。未來的貨幣政策是否調整胥視成長風險與通膨展望而定。”
國內通膨繼續攀升
國內通膨繼續攀升，3月份上揚至3%，今年首季平均為2.8%，主要是因為食品與燃料價格上漲。
“全球原產品及能源價格在今年料持續騰漲，主要貿易夥伴國的通膨料進一步揚升。”
國行表示，有跡象顯示，內需因素或加劇下半年的價格壓力。
國內經濟方面，最新的指標顯示，私人投資及私人消費在首季走強，出口表現也改善，主要獲得區域需求的支撐。
展望未來，大馬經濟評估保持穩健的成長步履，在今年其餘月份的成長會獲得堅定內需擴張的支撐。
“儘管全球經濟的復甦在未來料保持勢頭，但下調風險也在加劇中，主要來自高能源及高原產品價格、日本進展導致供應受阻以及新興經濟體的資金流動高度波動。”
上調SRR 1%
吸納70億過剩游資
另一方面，國行上調SRR，主要是防患未然，以管理顯著的游資，避免可能造成金融的失衡及威脅金融的穩定。
SRR每調高1%，將可吸納銀行體系過剩游資達70億令吉。
國行說，銀行法定儲備率是管理游資的一項工具，而非貨幣政策立場的訊號。隔夜政策利率是唯一充作貨幣政策立場訊號的指標，在每次的貨幣政策委員會會議後，發佈貨幣政策聲明。
Thursday, May 5, 2011
HK shares stumble to 5-wk low, futures signal more weakness
HONG KONG: Hong Kong shares ended at a five-week low on Thursday, May 5 as persistent weakness in energy counters offset gains by some financials, while index futures signalled further downside before the end of the month.
The Hang Seng Index fell 0.23 percent to 23,261.61, closing below a chart support level. The China Enterprises Index fell 0.46 percent.
On the mainland, the Shanghai Composite Index managed to eke out a gain, closing up 0.22 percent as banks and steel plays rose after the benchmark's 2.3 percent rout on Thursday. Lacklustre volume continued to suggest that most investors remained on the sidelines.
''
HIGHLIGHTS:
* PetroChina Co Ltd , down 2.6 percent, and CNOOC Ltd , down 2 percent, led the sector lower for a seventh session as reports that China may introduce an oil and gas resources tax added to fallout from weaker commodities prices. The energy sub-index has lost 9 percent in the past month.
* Tencent Holdings Ltd recovered some of Thursday's loss, rising 0.6 percent, partly on short-covering after Chinese social networking company Renren Inc surged 29 percent on its New York trading debut. Bearish bets on Tencent have built up, with 21 percent of total turnover over the past two days sold short, exchange data showed. [ID:nN04185096]
* It was another strong session for China Resources Power Holdings Co Ltd , which rose 1.03 percent on heavy volume lifting it well into technically overbought territory. It is up 10 percent this week as investors piled in on expectations that acute power shortages in China would result in tariff increases. - Reuters
''
THE DAY AHEAD:
Market players will focus on U.S. payrolls data scheduled for Friday, which is expected to show job growth eased in April and add to weak economic data coming out of the U.S.
Japanese markets are set to reopen on Friday after the Golden Week holiday and could come under pressure on a stronger yen and play catch-up to weaker global markets.
The Hang Seng Index fell 0.23 percent to 23,261.61, closing below a chart support level. The China Enterprises Index fell 0.46 percent.
On the mainland, the Shanghai Composite Index managed to eke out a gain, closing up 0.22 percent as banks and steel plays rose after the benchmark's 2.3 percent rout on Thursday. Lacklustre volume continued to suggest that most investors remained on the sidelines.
''
HIGHLIGHTS:
* PetroChina Co Ltd , down 2.6 percent, and CNOOC Ltd , down 2 percent, led the sector lower for a seventh session as reports that China may introduce an oil and gas resources tax added to fallout from weaker commodities prices. The energy sub-index has lost 9 percent in the past month.
* Tencent Holdings Ltd recovered some of Thursday's loss, rising 0.6 percent, partly on short-covering after Chinese social networking company Renren Inc surged 29 percent on its New York trading debut. Bearish bets on Tencent have built up, with 21 percent of total turnover over the past two days sold short, exchange data showed. [ID:nN04185096]
* It was another strong session for China Resources Power Holdings Co Ltd , which rose 1.03 percent on heavy volume lifting it well into technically overbought territory. It is up 10 percent this week as investors piled in on expectations that acute power shortages in China would result in tariff increases. - Reuters
''
THE DAY AHEAD:
Market players will focus on U.S. payrolls data scheduled for Friday, which is expected to show job growth eased in April and add to weak economic data coming out of the U.S.
Japanese markets are set to reopen on Friday after the Golden Week holiday and could come under pressure on a stronger yen and play catch-up to weaker global markets.
New Hoong Fatt posts higher Q1 pre-tax profit
New Hoong Fatt Holdings Bhd has chalked up a higher pre-tax profit of RM7.809 million in the first quarter ended March 31, 2011, up 8.3 per cent, compared with RM7.190 million chalked up in the same period last year.
In a statement today, the company said higher income from the sale of steel scrap contributed to the better showing.
Revenue also increased to RM53.710 million, during the peiod under review, from RM52.845 million previously.
The group expects operating conditions to remain challenging and competitive, it said, adding that rising cost pressures and margin squeeze would remain a challenge for the company.
Barring unforeseen circumstances, the group is optimistic it will continue its positive performance in the current financial year.
In a statement today, the company said higher income from the sale of steel scrap contributed to the better showing.
Revenue also increased to RM53.710 million, during the peiod under review, from RM52.845 million previously.
The group expects operating conditions to remain challenging and competitive, it said, adding that rising cost pressures and margin squeeze would remain a challenge for the company.
Barring unforeseen circumstances, the group is optimistic it will continue its positive performance in the current financial year.
Subscribe to:
Posts (Atom)