If we are smart enough, we will continue to buy more. We are confidence MNRB will attract investor very soon. We like its business model in Malaysia and its growth potential. I will continue to nibbling as our major target now. We think it should worth RM 8.00 and above.

This quarter result is important.   If there is 4 cents EPS will good enough to help Kawan stabilise above RM 2.00.  However, given the development of its new expansion and consistent profit growth.  We believe our 12 months target RM 2.50 may achievr earlier.

We calling a hold and if mother break above RM 2.00.  The current trading in warrant which is in the money will be a good buy.  At the moment, we are satisfy with out purchases months back and enjoying the run.

We think the diversification is not the initial intention we like the stock.  Given the rationalisation of the diversification.  We are a little disappointed Multico is going into another industry which vastly different from their existing industry. 

However, a health care business in Setia Alam is definitely an opportunity.  We think at the moment is not to do anything until more information is available.  We will hold at the moment but not adding or selling.

To sum up Yellen first message as FED chairman.  Fed will continue its monetary easing strategy as long as unemployment above 6.5%.  Measuring permanent full time job rather than part time or short term job.  This mean it will be still sometimes.

Fed accessing emerging market volatility impact to US market is minimal.

We agree that this indicate a slightly stabilisation to emerging market by now.  Probably 3-6 months and we will see again.

As water is the major issue for China in the century.  We believe China Water is a bargain at the current price with a target price cross back HKD 3.00.  We sold few months back at around HKD 3 to 3.1.  As the performance improving further.  The current price represent a bargain for a solid utilities counter for safe bet and yield.

We see Kawan Food has invited some volume and we believe it is on target to challenge RM 1.80 and RM 2.00.  We have bought in the last batch of its warrant in expectation the warrant price will cross min RM 0.60.

We expect the market will continue its volatility.  However, recommend selective nibbling on every huge pull back.  Not aggressive but just nibbling.

FED reduces tapering surprisingly plus emerging market’s currency crisis and many Dow components misses profit forecast caused sell off everywhere.

However, low cost fund has been exiting across Asia.  In Malaysia, persisted foreign net selling registered more than 4 to 5 months. 

We believe the market will be volatile ahead.  However, we continue recommend stay invested as we believe always value in a trouble market.  We continue nibbling quality stocks when market hit correction gradually.

Our strategy:

1. Stay invested in quality stocks
2. Agricultural, climate changed related and asset oriented.
3. Reduces foreign purchases as RM weaker.
4. Continuous buying Gold
5. Short KLCI when market rebound.

As overall market worldwide becomes more fragile. Stock picking will be very important to stay invest in the market for a better return. We believe a few key factors may be helpful in still profiting from a volatile market condition. Undervalued, growth prospect, trust worthy management, asset oriented, dividend oriented, agricultural and foods and finally climate change related.

Our top picks remained as below for 2014:-

1. MNRB
2. KAWAN FOOD
3. MULTICO
4. CYPARK
5. ANALABS

For income M-REITs, we recommend below in 2014:-

1. YTLREIT
2. ALAQAR
3. TWREIT
4. QCAPITA
5. AXISRET

Dow shed over 300 points over continuous concern on slow data from China and itself.  As such, we believe KLCI and Asia indices will have pressures next week.  However, we see it a healthy correction after artificial excess liquidity drive Dow to many records high.