The entire drama got a clear message now that delisting must go on after SGX issued a letter on 10th June 2014. We do not like the handling methods from Teledata. We also do not like SGX ways either. We will only comment if there is a need to delist is when a company show no will to be lifted anymore. In the case of Teledata, SGX decision to delist Teledata we believe has hurt not the major but also the minority share holder. Purely go by the book practises.

We will wait for the next action plan from the management of Teledata. An exit plan if any and option to go private together. If SGX is to be really something, they will need to govern the share holder I believe a need to offer buy back at least at SGD 0.01. Given historical price on recent placement, NTA, share issued for acquisition and off market deal.

On our point of view, the management need to only have a one genuine action. Inform publicly that Teledata can delist on SGX and re-list in Jakarta, London, KLSE or even Thailand exchanges. With the plan and its current revenue and profit. Teledata can easily fetch good market pricing compare staying in SGX.

If the major share holder Irene is genuine. It is no rocket math to come out with a quick solution and continue its business. Life without SGX may be even better. Else, offer a right price for minority to exit.

Puncak roared to above RM 3.30 and we expect at least will have a market capital trading near RM 1.5 billion. Thus, we put our target at RM 3.50 as optional sell. We however do not link life after the deal. So we calling an option start selling from RM 3.50 and above.

As a diversification in term of geographical area. We continue our fund investment to another City – Melbourne. A city well known of her Education success and also growing metropolitan status. Even though there are a lot of development in CBD Melbourne. We still favor project right at the center to potential obtain rental returns from students and professional workers.

We chose a project near Lonsdale street. The project name is The Fifth. Upper West is another upcoming project beside the property. A major station to access the whole CBD plus walking distance to South Yarra and China Town. After reviewed more than 30 projects, we chosen this as our second entry.

We will start explore commercial project in the country in the second half and potentially a farm land to stretch our arm towards small agriculture entry.

After reported consistent profit for the year. New placement recently plus positive future plan and acquisition of IPAsia Korea. SGX still notify Teledata to be delisted without further extension time allow.

Personally we don’t like Teledata potential management conflict in the pass few months. But so do SGX responsibility in taking care of the minority share holder. If SGX allows Teledata to placed SGD 0.02 to acquire IPAsia Korea. If SGX is not favor to Teledata plan of right issue to stay a float. Will SGX force the major share holder buy back all shares at SGD 0.02? What happen to the share holder of IPAsia Korea?

5 for 1 ultimate right issue should be a valid plan. If SGX is not able to approve the appeal. I would think if SGX is being to rigid but not at the angle to protect but same time govern and promote recovery company.

We will hold it for now. However in the event SGX approved its right issue plan. We will fully subscribe to Teledata 5 for 1 right shares. In the event it is going to delist from SGX. We will still like to be off market share holder. We may increase our share holding by last minute purchase to push our share holding further in the company. As we are convince with the recovery path.

In the event Teledata is offering its minority share holder an exit option. We will only consider if it is above SGD 0.015.

We have not been factored out our prediction that Dow Jones may crashed. However, with the current momentum and ECB rate cut move. Again, money value is going smaller and smaller. Funds are cheap and hedging inflation is also naturally via stocks if not property or commodities.

We feel that Dow Jones will break 17,000 and S&P 2000 soon. We really don’t know when the market will come to an end for its bull run. We still recommend riding the current wave but slowly move your ratio of investment towards asset oriented. Reduce your credit exposure gradually to face the next disaster to come.

We believe after aggressive foreign funds buying halted for a while. The market subjected to a lot of profit taking. We do not see too much excitement next coming weeks during the World Cup season. However, we still favor our top picks and we see the upside will further extend. During the period, Allianz, MNRB, Layhong done well.

Year on year with a near 20% revenue increase and an almost 30% increase in profit. We continue to call for a hold in Kawan Food and buy on dip. Targeting min value at RM 2.50 and its warrant at RM 1.00 above. At the current price level of RM 1.80 to RM 1.90 is an accumulative level to us.

All our top picks in 2014 2nd half registered strong growth fundamentally. We continue to call for accumulation for MNRB, MBSB, KAWAN, PARAMOUNT & SUCCESS.

Factored MH370 certain payment perhaps. Allianz still able to achieve EPS at RM 53.02 cents with revenue above RM 1 billion. With the current EPS the PE brought down to 5 times. With this consistent growth even if preference shares converted plus potential payment due to MH 370 incident. Allianz still goes strong and we continue to hold or calling buy when dip.

Though a slight revenue decreased but it has registered a profit of RM 19.56 million. EPS of RM 5.79 cents giving Paramount around PE 7 times. Of course it has to be stable growth to be maintained along the year for a strong price adjustment upward.

Positive development about its new Penang Campus and property development project. Together with its Selangor Campus to be started in 2015. We continue call for a strong buy and subscribe to all its right issues. Before right issue our targeted worth of value is at RM 2.50 and above.

We continue our investment in AUD further when RM strengthen back against it. We have bought in more and residing in offshore money management rate at 3.25%.