We disposed 30% of our holding on apex and switched to KTC at RM 0.275
After a months of scrutinies and studies. We put a few more companies under our radar. We like their results, growth potential and industry.
1. CIMB 2. WCT 3. METROD 4. OCB 5. IKHMAS 6. EITA 7.KTC
We did not change any position and our view on worldwide macro economic. We also sticking on our perception
on local front.
Like we have previous commented that if MNRB is not able to hedge well against its claims. We would like to call for a hold at the moment. We still like the counter as it is highly undervalued. We will not adding MNRB for the moment until next quarter again. Unless price is so attractive that prompted us to buy further.
After years we have identified Analabs as an undervalued stocks. It has not been active or performing until recently. Profit wise remained choppy but reviewed it’s assets.
However we started our selling on this counter a month ago while market at depressed price. We switched to others that can recover faster. We managed to hold on half of our holding until recently. We sold it gradually for CIMB. At RM 2.50 above already hit our target. Without new corporate development or better result. We will exit the counter if price moving upward further.
Sometimes there is a rhythm of music in the market. After analysis and experience to assist you judging the market. I do like to listen to the music of the market. It can tell you something not from both fundamental and technical. Anything on earth has a rhythm of frequencies.
We repeatedly expressed our forecast that oil and RM will improve further in next 6 to 12 months. We think oil will be above USD 60 per barrel and RM exchange rate of to USD below RM 3.80.
KLCI will retest 1750 – 1800 level with bluechips and midcap stocks leading the way. We may be wrong but with calculated risk investment on bluechips. The probability to have a good ROI is higher.
World markets are receiving FED minutes well for near rate hike with gradual increase later on.
RM advanced slightly in the morning. We believe if the rate hike finally become reality in December. USD will have less speculation momentum and correct from this level.
The reason sudden price risen prompted us to continue selling Analabs at RM 2.32. We have switched to CIMB at RM 4.55
Recent price risen may due to share buy back without any new consistent earnings for a long time. Even with reviewed assets at RM 3 above.
We reinvested part of our dividend into MNRB and Paramount. Mean time we did bought in more CIMB-C7.
We bought Maybank-C17 at RM 0.06 and ALSREIT at RM 0.98. We may be wrong but we are maintaining out opposite view of undervalued Ringgit and Oil.