We continue to nibbling Bingo group as we still positive with its first movie to be launched soon in December 2012. In case if the world do not end on 21-12-2012, we believe Bingo will recover its EPS and soon recover its share price as well.

We bought Oriental watch also as to the current price has adjusted to slow sales last year.

We just don’t think there is anything can push market higher everywhere in the corner. Up and Down and we believe is uneventful.  During this time, I recall Bufett and Jim recommendation to do nothing.  So we also advise do nothing during this period.   Except asset purchase like REITs

I will not make a solid conclusion that the merchant bankers made a wrong calculation of its valuation.   But retail price at RM 3.00 and institution at RM 2.95 with a closing price of RM 3.00 is a bit hard to swallow. 

Either someone think they calculated wrongly with millions spent on mechant bankers that I do not think so. Or some major share holder trying to exit the counter. 

Any price dip below RM 2.950 is definite buy call from us.

Cheetah announced a series of share buy back. We think it is ok even not GO to protect share holder value. But the volume still not normal as a non high volume counter explode few times due to share buy back.   Either left to right pocket or a major share holder or fund is selling.  May be bonus issue is mulling and may be preparing sell off the whole brand to other company.   May be……

We sold some percentages of Gadang 0.700 and Gpacket 0.630. Bought undervalued Sunway 2.320, Tomei 0.760 and Layhong 1.520.

We do not like the right issue after bous issue. Looks like it is a practise starting from Amfirst then RCEcap. The cash call may be the intention that the biggest share holder forsee some uncertainties ahead and trying to reduce loan ratio and housing the next 2-3 years working capital. Also, selling of AMMB to ANZ Bank given more room for Azman.

A few more days before we can confirm that may be something mulling behind like privatisation. It has been long traded below NTAV and it is logical for them to GO. Even though, i still like this counter and their speed is slow in expanding. If they do not privatise, my ultimate holding time is infinite if the price stay as it is now. As i am happy with a 20% ROI of investment per year.

From its non mandatory GO of RM 3.20 we already suggested it should worth beyond that. After quarters of dividend since its GO, the stock price continue to climb. We believe Manulfe is to do better for years to come. We continue favour this stock but recommen a long term hold. But if someone come and buy it up to ridiculous PE, we will sell.

Looks like a good news as eventually Gpacket aware that this industry require extensive investment for long term. By disposing P1, i believe the cash and profits after minus debts may be still good to acquire new business. Also, recover some capital investment by Gpacket that depreciated its towers across years. But final price still depend on how much is the winning bid. Finally some bright lights for gpacket

KLCI continue the climb to record high. Overall PE is about more than 15 times.  Corporate results as mentioned not too outstanding.  Palm oil prices has dropped significantly.  Some slow down data and yet KLCI continue new high.  We do not see any reason except money becomes to small and need to find value in KLCI.  We continue to become strong defensive.