We are delighted that Kimlun has provided as a quick profit holding only months. We decided to sell off also due to its valuation is now around 15 times above.
We believe the recent result from DKSH is a bit unfair to reflect its current price. Although long term we remained optimistic, we sold off mildly. Switching all to PLABS, OCK and IGBREIT.
I still don’t quite like IGBREIT due to its valuation but dropping back to RM 1.350 level is acceptable to us.
KLCI may go through a correction but rotational play is expected on trending counters. Global sentiment over shadow local. KLCI will look for direction but we believe the party is still too early.
Agricultural related picks are LAYHONG, BSDREIT and PLABS. As we agreed that the safe best on next wave is going to be agriculture after metals and oil.
We have fully disposed Tuneins in view the resulted announced of EPS 2.07 cents are far away from our principal. We have profited from its IPO down trend purchased from RM 1.350. Current market price represent more than PE 20 times and we have decided to disposed all.
We switched partially to Plabs as accumulation. Very non liquidate, smallcap and virtually no fund can enter such a smallcap stocks. But we see future of agriculture and its related business.
We continue to selling mildly Gadang at RM 0.935 and Tuneins at RM 2.12. Switched to AscendasHT at SGD 0.955, KHIND RM 1.500 and Plabs 0.170. We started to hold Plab due to its business model and EPS.
We have sold off some Gadang at RM 0.910 and some Tuneins at RM 2.100.
Continue in-flow of cheap funds i believe during this trade war between countries will push market up further.
BNM may likely to follow all countries to lower Ringgit to support competitiveness of our export. BNM endorsed lower RM across years. Since after election and BOJ strategy in lowering Yen. RM has improved near 10% against certain currency. If RM continue to improve with stable inflation, BNM will have 50% chance to reduce interest by 25% points in next monthly meeting.
We believe rotational play on selective counters will continue as of now. We recommend defensive investment but sell on unreasonable PE and those company without consistent profit patern.
Affin has an unbeaten run this week pushed the share price closed at RM 4.360. Tuneins closed at RM 2.02 and Dijacor closed at RM 1.740. We like the market is getting a little mature where investor looking for real value company.
We sold 1/3 of our holding on Gadang at RM 0.855. As we do not like the fluctuation of Gadang stock price. We decided to reduce position gradually while price moving north.
Slightly reduced revenue by Manulife with profit sinking Yoy. EPS of RM 0.02 cents are well below our expectation. We will hold for another quarter before we decide next action plan.
Allianz improved revenue but profit only managed for slight increased. Not very exciting grow but we still happy with its RM 33.85 EPS. It is a continue hold for us at the moment closed at RM 9.50.
FocusP improved revenue but with slight retreat of profit to RM 0.0078 EPS still good for us. We will still hold on our position.
Except Manulife under our scrutinization. But we are not very satisfy with three of the results.
As we expect currency trading war to be continued, we view the currency will be strong temp. We expect the market to shoot pass 1800 level soon. We bought AUD at RM 2.990, Dijaya at RM 1.570, Multico at RM 1.70 an BSDREIT at RM 1.88