We have disposed upto half of our HEVEA holdings and exchanged to MNRB at RM 3.91, CYPARK at RM 1.90, INNITY at RM 0.36 and ANFIRST at RM 0.945.
A sudden price up to RM 2.45 – 2.50 level with active trade prompted us disposed 30% of our holding on HEVEA board. We do not know if there is any corporate development but we are happy with our profit.
In another event after Australia Central Bank reduce its interest rate. China announced to reduce banks deposit requirements. Another sign that world economy is slowing and need some injections.
While there are increasing pictures of potential racism. We decided to hold on our investment locally follow with review. We will be very careful only select multiracial or nationalism counters as our main factors to consider for new investment.
We want our investment in a balance or neutral mode. Just in case any esculation of such sentiment will less impacting our counters.
RBA Cuts Key Rate to Record 2.25%, Says Currency Overvalued. As of today RM 2.76 vs AUD 1. AUD has depreciated more than 15% against RM and probably more against USD.
We see AUD will continue weakens further to below RM 2.60 to RM 2.70 in 6 months. That will be great news for our real estate investment in Australia! Probably a 20% discounted rate to our initial targeted value.