We have started buying Maybank-C11 at RM 0.065 as we like the price with a potential valuecap profit when Maybank price above RM 9.00.  We also continue buying CIMB-C7 at RN 0.05 as we believe CIMB is currently seriously undervalued.  Partly due to the head is not in good term of Government.  Just like Airasia. 

We also added ALSREIT RM 0.99, MNRB RM 3.39 and ECSICT RM 1.41 with our reinvestment program. 

We have reinvested part of our MREITS dividend into ALSREIT and KSL.  We think cash in overseas and Fixed Deposit is not getting any better return.   Therefore we bought not ALSREIT at RM 0.975 and KSL st RM 1.52.

We are firmly believed that dollar is overvalued worldwide.  With FED postponed to raise rate.  Further with today jobs data missed estimate.  Is recent dollar fierce rise justify?  

Yes indeed MBSB needs to define a value that is right to merge Bank Muamalat.   It has to be not below RM 2.00 for a new entity.   Vice versa a direct acquisition via its own share will need lots of right issue.  A higher value of MBSB can only smoothen the process.

It is a good deal as I believe but is the method of the acquisition.  We are happy we stop buying when the right issue news was out months back. But we bought in some at the range of RM 1.20 to RM 1.50.  Out fair value of MBSB always above RM 3.00.

We have transferred some SGD back to Malaysia from our SREITS dividend and bought into newly listed ALSREIT.  We start to covering it because we want to cover all MREITs as a pioneer player in Malaysia to understand all its behaviour and performance.

We also bought some Axiata-C4 due to weak market sentiment create a great chance for us to profit from valuecap.

We also like CIMB-C7 as we think when market stabilise in mid term.  We should have a fair value of CIMB at least at RM 6 and above.  Perhaps our certainty is valuecap buying I’m next few months to come.

We bought some ARREIT and KSL today.   Also taken mildly on Axiata – C4 again. 

The problem become more serious since it started over 20 years ago.  Climate changed also become part of the problem to worsen any palm oil plantation cleaning process. 

The problem not just talking about Healthcare cost for human and vets.  Perhaps other plantation, productivity, tourism, property market for foreign investors and more. 

Scientifically it adding more carbon dioxide emissions and increase global warming issue.  The cycle continuous and the palm oil plantation cleaning up aging trees become more severe haze issue in the region.

Since for more than 20 years cannot resolve the issue. Perhaps boycott palm oil purchase will be the right step to stop this costly option with others products. 

It is a chain effect.  Stop buying it or we going to drain together with it.

As market continue to head south.  We found value in Axiata-C4.  We bought at RM 0.05 very mildly purely on speculative play.  It does not change our view on defensive strategy.

Local front the RM 20 bil value cap fund may benefit Axiata in short term.

We are suggesting a shift to cash flow oriented investment strategy.  All investment from now on will bias to companies, businesses and assets that generate cash flow consistently across time.

Alaqar REIT is a good defensive REIT in Healthcare segment.  Paramount Corp is highly recommended for its education segment due to historical week in RM.  Cypark is continously a potential of green front liners in Malaysia.

It is a decision by a giant infrastructure related players.  When economy is slow. QEs were used to boost activity and have interest near to zero level.  Governments can also boost economy via infrastructure spending. 

When Caterpillar cutting jobs.  You got to believe that they have enough analyst to understand 2016 is going to be at least a forseen slow down.  Less sales pipe with less governmental infrastructure spending ahead. 

We are calling a switch into more defensive strategy in the coming months.