We believe at least 6 to 9 months will see less speculation on dollar vs Asian currencies. It is well within our forecast. We still insist the rate hike should come in as early as October.
We believe oil prices forming bottom
The momentum is still strong to pressure oil prices. But we believe the bottom is forming. I do not know how low it can go. We forecasted USD 40. But won’t be too far away. Catalyst c an be here anytime.
We will stay quiet a while after Oil dipped below USD 40 and Dow Jones dropped more than 300
Even though our forecast that oil and RM will recover in 3 to 6 months. Oil dropped below USD 40 and may try support of USD 35 sparked more energy sell-off.
We will do nothing unless we see any bargain value in oil related stocks or our top picks.
Last week we have bought Gold and ALSREIT as part of our enhancement in our asset oriented portfolio.
Year-end December rally suppose to be in town. Oil crisis continue to drag down the tradition. Possibly January will be a better bet for a good month ahead.
Bingo touched 3 months high with huge trading volumes
Bingo has touched 3 months high of HKD 0.365. We maintain our target of Bingo above HD 0.45 within Q1 of 2016.
We sold some of Gadang at RM 2.04 and set targeted date of CIMB-C7 and Maybank-C11 exit dates
We sold Gadang at RM 2.04 and switched to KTC RM 0.285, PBA RM 1.25 and CIMB at RM 4.52.
We will also closely monitor our Call Warrants investment. CIMB-C7 and Maybank-C11 will under close monitoring between Dec 2015 and Jan 2016. If the movement is not within expected. We will exit both Call warrant earlier.
We started to hold PBA
Yes – we do agreed after a few research houses recommended PBA due to water tariff hike. PBA can be a good company to be included in our utilities portfolio. We started buying mildly today.
OPEC failed to agree on stabilisation but not for long
Iran will commit to pump more and we don’t see OPEC in near term also have strong intention to reduce production. However, we think USD 40 per barrel is a strong support bottom.
For short term oil price may still be stay at low. But we believe definitely not for long.
We will bargain hunt MNRB if dip below RM 3.00
A poor quarter plus non detail explanation sparked sell off of MNRB. However, a loss of to date less than 10 sen is making MNRB price heavily undervalue. A fair correction should be around 10% from RM 3.50. Thus, we may bargain hunt if price dip below RM 3 again.
We sold Apex again for CIMB
We believe a corporate exercise is on its way for Apex. A price control exercise by parking certain amount of shares at RM 1.90 above. We forecast a takeover, merger, placement or privatisation is on the card.
With the current parking of price at RM 1.90 and above. The exercise may be at RM 2.1 and above but not too far away.
We sold some and exchanged all to CIMB at RM 4.540