We bought MBSB C2 mildly at 190/195

MBSB C2 should have a good potential targeting 400 if MBSB reaching 1.60 before year end.  Well it is not our style to invest heavily in Call Warrant but we think a good target with right timing potential.

MBSB merger to obtain a banking license is positive – Buy if still below RM 1.5

The reason is simple.  More products options. Less limitation to financing various industrial and infrastructure projects. Lower cost of fund. Improve deposit rates.  With the impairment about to be finished by year end.  Profit expected to further improve and potentially write back.  It is a definite buy call.

HSBC investing USD 250 Million to build ASEAN hub in KL looks positive

The result will start to spur more direct investment to the country.  This move looks positive for long term to Malaysia. Transforming further to a service oriented economy.  Branded and promising.  This is by far the best news I believe for Malaysia.  We continue to look positive on Ringgit, Stocks and business in the country.

Aussie dollar may face pressure after recent new measures on property marketĀ 

Review on policies on immigration.  New measures on foreign property ownership including vacant tax.  Higher stamp duties to slow property prices growth as to one of the world most expensive in Sdyney.  

As minerals prices on export remain sub due.  Also China new policies to curb money flow out from the country.  All likely to point to a slower demand of its properties and at the same time reducing its economy policies dependency that based on migration.  During the transformation I expect a weaker Aussie dollar in near term.  

Portfolio overview and updating CIMB and UMW to hold

Buy call

MBSB, YSPSAH

Mild buy on weakness

KEN, KSL, SUNWAY, OSK, OSK Warrant, INSAS, MNRB

Hold call

CIMB, UMW, EIG, OCB, PARAMOUNT, AFFIN, AHEALTH, RHB BANK, ALLIANZE, SPRITZER, TASCO, LUXCHEM, TOMEI

Long Term Hold 

MAYBANK, PBBANK

Reduce on Strength

CYPARK, KHIND, FOCUSP

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