Tanjong Plc, Measat, Ananda Krishnan and Valuations

Tanjong and Measat - The cynical ones would be harping on the fact that another two listings being taken off the board, thus eroding the already decimating foreign interest in Bursa listed stocks. But you cannot just judge things by looking at the surface. Tanjong has a lot of capital to raise to move into power plants in a big way, plus it has to sweep some rubbish under the carpet (the German resort venture). Tanjong as it is also holds other assets that probably will need to be shed and restrategised.Obviously its a valuation thing as well. Its listed and available to foreign investors for the longest time, so, foreign investors will need...

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Two Amazing Foodie/ Wino/Literary Blogs

Let me introduce you to Paranoid Android first. He is obviously not a starving literary savant. He writes incredibly well, takes amazing photos, and likes to eat at the same places I like to eat. Since I am not they type that likes to take pictures everywhere I go, his blog is a wonderful place to visit. His pictures "taste" better than the real food I think. http://paranoidandroid-in-kl.blogspot.com/Loved the parallel review of the new Cilantro with Sage. Best posting so far has to be on Nathalie's Studio, try and stop yourself from going to eat there after reading the posting. Good job dude!(photos from Paranoid Android's site)This second...

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Malaysian Musicians and Jacky Cheung

Taken from pop pop music site, written by Leslie Loh: some highlights on this jacky cheung's mini concert double-cd:1) rogerwang's "love scale" is played by sham, another great malaysian guitarist2) jz8's lydia chew sings backing vocals3) jacky sings "lover's tears" in jazz style, delicious!4) jacky sings his own classic "lei heong lan" in jazz and sam hui's "fut tew cheong" (an elvis presley's cover) in swing5) malaysian great drummer, lewis pragasam plays drums6) many songs with big-band backup in the album, fun!4 malaysians involved in this project, you all should be darn proud!get it!...

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Jerneh Revisited

Below are the two postings on Jerneh. Caveat emptor.Tuesday, April 13, 2010 Jerneh Jerneh shot up on a news article in Star Biz today, which reported that Singapore Business Times wrote that Jerneh Asia was poised to sell its 80% stake in Jerneh Insurance to a foreign player, likely to be HSBC for around RM700m.Do the math backwards; 80% x RM700m = RM560m. Now you divide by the number of shares in Jerneh Asia which is 180.7m = RM3.09 per share cash. Mind you if the report is correct, Jerneh Asia would still have the listed vehicle.The History: Jerneh Asia Berhad (Jerneh) was incorporated on 18 October 1995 and listed...

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Revenue Per Employee

XOM - Exxon MobilCVX - ChevronSNDK - SanDisk (storage card maker, memory chips)QCOM - QualcomVMW - VMwareRevenue per employee is quite a useless measure. It means nothing in the general sense. Raking them would always yield two types of companies: oil and technology companies. It only starts to make sense when you benchmark them on a same industry basis.Revenue per employee measure is more relevant for labour intensive industries and not capital intensive industries. Labour intensive would be a direct correlation between the output and efficiency of each additional employee to the company.Oil is oil, it just gushes and it is capital...

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Should One Buy Unisem Here

The issue and exercise price for Unisem’s renounceable rights issue of warrants have been fixed at RM0.10 and RM2.18 respectively. The rights will start trading on 2 Aug 2010. As for the bonus issue, the ex-date has been fixed on 28 July 2010.Proposed bonus issue, rights issue of warrants and ESOS. Unisem had proposed a 3-for-10 bonus issue, 1-for-4 rights issue of 5-year maturity warrants and ESOS, not exceeding 10% of its issued and paid-up share capital.Effects of the proposalsExisting issued and paid-up share capital 518.6mTo be issued pursuant to the bonus issue (a) 155.6mEnlarged share capital pursuant to the bonus issue 674.2mTo be issued...

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The New Catalyst - Banks Stress Test

IMF welcomed the publication of European bank stress tests on Friday, saying it promotes transparency and boosts investor confidence in addition to helping beef up the financial system. Seven of the 91 European banks examined for their strength to withstand a crisis failed, most of them in Spain. Overall, the European banks were judged to be financially sound. The key is the fact that only 7 failed, and secondly they are just Spanish banks mainly, plus a couple in Germany and Greece. Governments are already working with the seven weak banks, five in Spain and one each in Germany and Greece, to help them shore...

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A Wino's Diary

I am going to start to keep track of what I have been drinking. As one age, one tends to forget what one has drunk beforehand. I am no wine connoisseur, I only know I like it or not, don't ask me about the growth varietals, good years, etc... the subject matter is just way too wide.Anyway, I had a mild drinking session with a couple of friends on Friday. Thought I should keep some notes.Château Dutruch Grand Poujeaux 1996This was the first, not knowing which of the 3 wines to taste first, we just went with the flow. It drank very well, not at all like an aged wine. The fruits were balanced. A bit salty but acceptable. (here come the snooty part)...

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Petronas To Put Bursa Back On The Radar

Petronas is Malaysia's premier state-owned company, but as a publicly owned company it could be worth more than $200 billion and would dominate the country's stockmarket.According to Deutsche Bank, Petronas could potentially make up 40% of Malaysia's weighting in the MSCI Asia ex-Japan index if it was to list in its entirety (MSCI is a free float-adjusted market capitalisation index that is designed to measure the equity market performance of countries in the region).Based on a price-to-earnings ratio of 15 times, Petronas could be worth up to $207 billion, according to Investment and Pensions Europe. This would make Malaysia's largest state-owned...

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Road Ahead For EAH

So, EAH did very well on debut, at just below 70 sen, where can it go? One of the keys to a stock movement is to track its catalysts. One should not really look at it as an ACE stock as it is a profitable small company with traction.Their 1Q2010 results was a good indication. Annualising its 1Q to the full year would be a 55% jump in net profits compared to 2009. Its end of July already and they should be close to announcing their 2Q2010 figures. Another strong quarter would put the company on another upward re-rating.The company has submitted 10 tenders and some of them involve government linked firms - this could very well be another catalyst...

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2V1G's Album Coming Out In August

The first album by 2V1G was spectacular, selling well over 10,000 copies. Unfortunately Regine has left the group. I was skeptical about her replacement. So I was very relieved when I heard the first few recordings, Jeffrey Lim was superb. You can hear his voice in the following two videos. Winnie Ho is just as spectacular, and she has slimmed down nicely, you go girl. Roger Wang is Roger Wang, brilliant but more assured this time around, maybe he has gotten the hang of Chinese melodies. The album is coming out in early August I believe. Look for Roger's composition Love Scale, which was covered by Jacky Cheung as well in his last album. ...

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Why I Like EAH

As promised, among the upcoming listings, the one stock I like a lot is EA Holdings. The fact that its ACE bound should not be held against the stock. I have mentioned that most IPOs have performed poorly but there have been exceptions, one just need to do a bit more legwork.Every time we come across a technology services, I have to make sure that its not just another plug and play company, or a purely systems integration services company.At a glance, EA may look like the usual technology services company. In fact it is very much product driven. EA Holdings' wholly‐owned unit EASS Sdn Bhd was granted bumiputera contractor status by the ministry...

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Bursa's New Transparency Move

Some will obviously say that the proposed amendments are reactionary to the more recent shenanigans in the markets. I am all for better transparency by listed firms, but we have to draw a line between credible information and over-regulation. Things can get petty and paper work can become too onerous and may even fail to achieve the objectives of better transparency. Changes in directors, CEOs and CFOs - This is OK and acceptable.Changes in external auditors and independent advisers - This is OK but may need to be extended to include an opinion from the external auditors and independent advisers as to why they were changed or asked to resign...

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CIMB's Callable Bull-Bear Certs - Nice One

CIMB yesterday launched the first callable bull-bear certificates (CBBCs) on Malaysia's national stock exchange. The initial four CBBCs start trading today and will allow investors to bet on four popular local stocks: AirAsia, Gamuda, Genting and Berjaya Corporation. "Malaysia is the first country in Southeast Asia to introduce CBBCs," said Charon Wardini Mokhzani, deputy chief executive of corporate and investment banking at CIMB, in a speech. "Our launch of CBBCs today is yet another example of innovation in exchange-traded products, designed to give investors more choice. It is not a substitute but a complement to all the other exchange-traded...

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Good Stocks On The Move

I have been terribly quiet on stocks specifics for the past couple of months. As mentioned the 2Q is always more down trending than otherwise, pays to stay out. The real reason being many will be itching to close their books early for the half year, especially if they had a great 1Q already to lock in gains and go away.If you have read my strategy for 2H 2010, I am quite positive on equity. I can see funds starting to reload their guns, taking new positions. for the 2H.Looking at the Malaysian market, good stocks are being bought up liberally over the past two weeks already. One can sense the pick up in volume and price breakout movements. Note...

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