Just gotten Yilai's dividend of 3sen T.E. This is the forth i received so far, has been shrinking comparing to last year. Profit has been decreasing as well. So far it never fail paying dividend, i do hope that this continue to be their policy...
Today sold partially of my HLBANK for RM5.10 but too bad it matches a mere 100Units, this will translate a small contra loss for me, just hope that the remaining can fetch a higher price coming next week.
19 comments:
Sold Resort at 2.59, Pbank at 8.50, and IGB at 1.18. Still q maybank. May buyback if stock dip into attractive level again.
Although Yilai earning is on downtrend due to stiff competition (China), operating cost (electricity hike) and slower demand from property, It still remain debt free or net cash/share= 30sen. Current valuation is almost on lowest level. Nevetheless, It is important to retain substantial cash and cut dividend in tandem to weakness in share price, but maintain its dividend yield (8-10%) to reward shareholder.
Bought back resort at 2.54 and PBank at 8.35.
Flash: Tenaga Nasional (TENA.KL): Sell: No Reduction In Electricity Rates For Now, Says Minister
§ No reduction for now - The Bernama newswire reported that Datuk Shaziman Abu Mansor, Minister of Energy, Water and Communications, said that Tenaga Nasional will not be reducing the rate of electricity tariff for now although the price of oil has retraced. This is because the electricity generated in the Peninsular Malaysia does not use oil but mostly gas and coal, he explained.
§ Pressure mounts - He said he needed to explain the situation as there were parties trying to create the picture that the government did not care for the people. We believe the statement was made following pressures from consumer and manufacturing groups to lower the tariff which was raised 18%-26% with petrol pump prices in June 4. While government has gradually cut petrol and diesel pump prices as oil prices slide, electricity rates have been maintained.
§ In line with expectations - We concur that a reduction in tariff appears unlikely. However, against Tenaga's effort to lobby for a tariff hike to absorb the higher cost of coal and boost its bottom line, we believe a hike is increasingly remote as well in the medium term given 1) current deteriorating economic conditions; 2) relatively lower energy market prices and strong public resistance; 3) tariff hike would be politically unpopular as the government undergoes leadership transition (i.e. the current deputy prime minister is expected to assume the prime minister post in March 2009).
§ We reiterate our Sell/Medium Risk (3M) recommendation on Tenaga - Unless, average coal prices fall below FY08 average of US$76 a tonne (i.e. FY08 average), we see little positive financial catalyst in FY09E.
bought HLbank at 5.00 and sold at 5.05 for intradday gain. Also bought back IGB at 1.16 and bought more resort at 2.54.
good one ....
Sold off Maybank at 5.05-5.10, IGB at 1.19, Resort at 2.59, HLbank at 5.10.
Sold Pbank at 8.45, Interest rate cut fail o sustain banking rally. Dispose most of trading stocks. Market may undergo adjustment. Prefer cash holding at the moment, while waiting for another round of oppurtunity arrive.
Bought Sime at 5.60, sold at 5.70. Last min trade!
hng, millions is within reach with this kind of trades done. :)
Bought again resort at 2.60 due to its strong momentum and big volume in early morning. But soon sold at 2.65 for quick contra. Bought also Pelikan at 1.08 and sold fast at 1.10.
Bought again HLbank at 5.00 and Sime at 5.60. Market sentiment change very fast, from caution trade-rebound-retreat-downtrend. This is very volatile market, every min sentiment tone changing and must keep watching closely....
Wah! resort perform better than expected, reached as high as 2.71, but rational thinking promting me not to chase this stocks again, Let it settle down and wait for its Q3 result to be release soon.
Bought Pbank again at 8.25. Interesting, both Maybank and HLbank are at same price at the moment. and Commerce will likely join them soon!
Very strange, most of banking stock down after BNM announce overnight policy rate cut by 0.25% and reduce satutory reserve requirement by 0.5% ! Maybank and Commerce have indicate fully pass through cut in BLR by 0.25, but the impact on FD has yet to announce! I expect, bank will announce cut in FD rate in tandem with BLR cut to maintain their profit margin.
Muted impact from rate and SRR cuts
* BNM cut rates by 25bps and reduced statutory reserve requirement (SRR)
by 50bps to pre-empt the economic fallout.
* The negative impact from the rate cut is being compensated by SRR cut.
Net net, the impact is muted.
* AMMB stands to gain most, while HLB the largest loser.
Maintain UNDERWEIGHT on banks; PBB our top pick.
Sold Pbank at 8.35 and Sime at 5.65. Market volume shrink. Thursday is thankgiving holiday for US. Market may sideway with high probability technical pullback.
Bought Resort again at 2.52-2.53. Contra on Sime and Maybank
resort is falling fast. news is foreign funds heavy selling.
Bought Resort at 2.41-2.43 to average down holding cost.
Volume spike fourfold, foreign find excuse to dispose share after its annonuce Q3 result (EPS=5.94 vs 17.84). But Q3 2007 was boosted by one-off gains arose from its part divestment and dilution of shares in Star Cruises. Excluding the one-off items, the group’s net profit for 3QFY08 would have increased by 9% year-on-year.
Resort earning should remain resilient and cash rich, with total amount of 4.5 bilion net cash or 77sen/share
also because a lot of panic selling from those who bought in anticipation of the 69M acquisition.
The acquition of Bromet Limited and Digital Tree (USA), Inc. for a total cash consideration of USD69.0 million (RM255m) specialises in the development, protection and commercialisation of gaming-related patents are not deviate from Resorts core business- gaming industry. In addition, the total cost of 255m is just use up about 5.5% of its cash reserve.
Current valuation is at historical low range of 11x, if stripping cash, PE become just 8x. Resort share has break through its immediate support line of 2.50, may tested again last Oct 29 price floor of 2.20, especially its mother share (Genting) has just release Q3 negative result. Possible another round of selloff due to panic selling again! Alternatively, may rebound strongly. Lets wait and see what will happen next...
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