Cycle & Carriage Bintang likely to hit limit-up again after today’s surge

SUNBIZ (Nov 12) PETALING JAYA: Cycle & Carriage Bintang Bhd’s (CCB) shares surged to a six-month high today, following news that its major shareholder Jardine Cycle & Carriage Ltd (Jardine CCL) was proposing to take the company private.

CCB shares hit limit up at RM1.67, a rise of 38 sen or 29.46% after it resumed trading today with 49,000 shares done. It is likely to see the stock hitting another limit-up to trade closer to the offer price of RM2.20 per share.

To recap, Jardine CCL proposed taking CCB private via a selective capital reduction and repayment exercise at RM2.20 per share, a 91 sen or 70.5% premium against its previous traded price of RM1.29.

According to a filing with Bursa Malaysia, Jardine CCL said the rationale for the proposed SCR came on the back of several reasons, namely: a challenging operating and trading environment, a long term commitment by Jardine and additional capital investments expected for CCB, an opportunity for entitled shareholders to realise their holdings, and seeing a minimal benefit from the listing status.

The acceptance period for the proposed SCR will close on Dec 6.

CCB is the dealer of Mercedes-Benz vehicles in Malaysia. For the nine-month period up to September 2019, CCB incurred a net loss of RM16.95 million against a net profit of RM17.82 million in the same period last year.

  • CCB? Nay. I’d like to do a song. Of great social and political import. It goes like this. Oh Lord, won’t you buy me a Mercedes Benz. My friends all drive Porsches, I must make amends. Worked hard all my lifetime, no help from my friends. So Lord, won’t you buy me a Mercedes Benz….

MUI Properties to take 40.7% stake in Australian gold explorer Nex Metals

SUNBIZ (Nov 12) PETALING JAYA: MUI Properties Bhd’s wholly owned subsidiary Cesuco Trading Ltd, will be taking up a 40.73% stake in ASX-listed gold exploration company Nex Metals Explorations Ltd, following the conversion of a A$1.5 million secured convertible note.

In a statement, MUI said Cesuco Trading, its Hong Kong-based investment company, had advised Nex Metals Explorations Ltd of its decision to exercise the share conversion.

“We are excited to take a significant position in the gold exploration industry in Australia. Having taken into account all underlying factors, we feel the time is right to invest in this sector, which has vast potential,” said MUI group chairman and CEO Andrew Khoo.

Since August 2018, gold prices have climbed from US$$1,180 per ounce to US$$1,529 in September this year. It is currently trading at above US$$1,450.

Based in Perth, Nex Metals’ gold projects include the Yundamindera and the Kookynie mining leases covering a total area of 6,746 hectares in the north-eastern goldfields of Western Australia.

This year, Nex Metals entered into a farm-in agreement with Metalicity Limited, another listed mineral exploration company in Australia, to undertake exploratory drilling on nine separate gold mining sites in the Kookynie area.

  • Are you looking for gold, my friend? Look at MUI tomorrow. Me? Nay.
Posted in NOV


US aviation authority downgrades Malaysia’s air safety rating – Sources

REUTERS via NST KUALA LUMPUR (Nov 11) : The US Federal Aviation Administration has downgraded Malaysia’s air safety rating, restricting the country’s airlines from adding flights to the United States, four sources familiar with the matter told Reuters on Monday.

Malaysia has been downgraded to Category 2, said the sources, who did not want to be identified as they were not authorised to speak to the media.

The Civil Aviation Authority of Malaysia was not immediately available for comment.

The new rating means the air carriers from the country cannot start new services and are restricted to current levels of any existing service to the United States. The carriers would also be subject to additional inspections at U.S. airports.

  • To my knowledge, there’s only AirAsia flights from Kuala Lumpur to Honolulu, USA.

Xian Leng to diversify into bird’s nest business

SUNBIZ (NOV 11) PETALING JAYA: Xian Leng Holdings Bhd has proposed to diversify its existing business to include the trading and distribution of edible bird’s nest.

The new business is to be carried out by wholly owned subsidiary, Xian Leng EBN Trading Sdn Bhd.

Xian Leng EBN today entered into a management service agreement with edible bird’s nest industry expert Tan Wei Chun for the provision of management services to facilitate the day-to-day business operations of Xian Leng EBN.

At present, Xian Leng and its subsidiaries are principally involved in the commercial captive breeding of Asian Arowanas, stingrays and other ornamental fishes, which are the main revenue driver for the group.

However, the unpredictable weather conditions in Malaysia such as extremely hot weather and occurrence of a tropical depression in recent years have impacted the productivity of the group’s fish-breeding activities, with revenue generated from the fish-farming activities declining 31.6% in FY2019.

Xian Leng anticipates the proposed diversification would be one of the major contributors of the group’s revenue in the future.

It is seeking prior approval from its shareholders for the proposed diversification at an EGM to be convened.

The global market for edible bird’s nest estimated to be worth RM10.2 billion annually, and Malaysia is currently the second-largest producer with RM1.5 billion in sales.

  • Wherever I fly from my own dear nest, I always come back, for home is the best.

Cycle & Carriage surges 29% on privatisation offer

EDGE KUALA LUMPUR (Nov 12): Cycle & Carriage Bintang Bhd’s (CCB) shares surged 29.46% this morning after its controlling shareholder Jardine Cycle & Carriage Ltd (Jardine CCL) proposed to the board to undertake a selective capital reduction and repayment (SCR) at RM2.20 per share.

At 9,02am, CCB rose 38 sen to RM1.67, valuing it at RM168.24 million.

The proposed SCR will pave the way for the privatisation of the auto player, the share price of which has been downhill in the past few years to a 10-year low. The stock was last traded at RM1.29.

“Upon the completion of the proposed selective capital repayment, Jardine CCL will own 100% equity interest in CCB and Jardine CCL does not intend to maintain the listing status of CCB on the Main Market of Bursa Malaysia,”it said.

Meanwhile, Affin Hwang Capital Research CCB to “Buy’ at RM1.29 with a higher target price of RM2.20 (from 96 sen) the privatisation offer.

In a note today, the research house said the privatisation exercise is a good opportunity for CCB’s shareholders to exit their investment.

“We deem the offer price of RM2.20/share attractive,considering that CCB is still loss making and likely to continue facing a challenging retailing environment in the next few years.

“We upgrade our target price and rating to reflect the privatisation offer,” it said.

  • Oh my, my, my. I want to buy but nobody wants to sell their stocks.
Posted in NOV


And I Love You So…

US Market : The major stock averages rose slightly on Friday, notching fresh record closing highs, as Wall Street capped off a week in which trade optimism sparked a massive rotation out of bonds and into equities. The S&P 500 gained 0.25% to 3,093.08, led by gains in the tech and health care sectors. The Dow Jones Industrial Average climbed 6.44 points, or 0.02% to 27,681.24, led by Disney shares. The Nasdaq Composite advanced 0.5% to 8,475.31. Wall Street also notched consecutive weekly gains. The S&P 500 rose for a fifth straight week, gaining 0.9%. The Nasdaq rose 1.1%, extending its weekly winning streak to six. The Dow posted a three-week winning streak, advancing 1.2%.

Not sure why I found this so amusing. LOL Careless Whisper cover by Train – Patrick Monahan

Europe Market : European markets closed lower Friday, as investors reacted to conflicting signals about the ongoing Sino-U.S. trade war.The pan-European Stoxx 600 index closed provisionally down around 0.4%, with most sectors and major bourses in negative territory. Retailers were among the worst performers, Ocado leading the sector’s losses with a more than 7% drop.

Precious Metal Gold : Gold extended losses to hit a three-month low on Friday as positive developments around the U.S.-China trade deal tarnished the metal’s safe-haven appeal, putting the metal on track for its biggest weekly decline in three years. Spot gold was down 0.42% at $1,461.64 per ounce, poised for its biggest weekly drop – about 3.2% – since November 2016. It fell to its lowest level since Aug. 5 at $1,455.80 earlier. U.S. gold futures was down 0.25% at $1,462.8 per ounce.

Crude Oil : Oil prices pared losses on Friday, ultimately finishing the session higher while also posting a gain for the week. Earlier in the session prices fell more than 1% following comments from U.S. President Donald Trump that he has not agreed to roll back tariffs on China. Brent crude, the global benchmark, gained 26 cents to settle at $62.56 a barrel, after gaining 0.9% in the previous session. U.S. West Texas Intermediate (WTI) crude gained 9 cents, or 0.2%, to settle at a 6-week high of $57.24. Prices pared losses in midday trade, after Brent reached a session low of $60.66 a barrel and WTI sank to $55.76 a barrel.

Oldies but Goodies – Zakiah – Achmad Albar ft Ramli Sarip

Posted in NOV


It’s Saturday I plan on doing nothing and plenty of it.


EDGE (Nov 8): WZ Satu Bhd’s former executive director Datuk William Tan Chee Keong and former alternate director Choi Chee Ken are suing the group for the loss of the value of security and bonus shares and warrants amounting to some RM17 million after selling their company to WZ Satu in March 2014. WZ Satu has received a writ of summons and amended statement of claim, both dated Oct 24, from Tan and Choi.

My God! What have they done?

EDGE (Nov 8): The Government has agreed to provide a 25-month interim period for procurement of drugs to Pharmaniaga Bhd after its concession ends on Nov 30, said Health Minister Datuk Seri Dr Dzulkefly Ahmad.He said the interim period from Dec 1, 2019 to Dec 31, 2021 was to ensure that there was no supply chain disruption in the supply and distribution of medicines to the Health Ministry’s facilities nationwide.

What’s the matter, don’t you like surprises? I like them if they’re pleasant ones, and when they happen suddenly. But not when I have to ponder them for an hour and forty-five minutes.

EDGE (Nov 8): Sime Darby Property Bhd, S P Setia Bhd and Alliance Bank Malaysia Bhd will be deleted from the MSCI Global Standard Indexes’ MSCI Malaysia Index, following MSCI Inc’s latest semi-annual index review. The changes in constituents for the MSCI Global Standard Indexes will take place on Nov 26.

Some mistakes are worse than others: wearing your underwear inside out isn’t as uncomfortable as wearing it back to front. LOL

Cerita Kedai Kopi…

BINACOM – My TP 0.65. HEVEA – My TP 0.63

CUSCAPI – My TP 0.26. UCREST – My TP 0.28

Posted in OCT


Morning has broken ….

What’s up buddy?

KENANGA: On Our Technical Watch PENTA, BINACOM …

SJENIE: Technical Watchlist BINACOM …

We’re already cyborgs. Your phone and your computer are extensions of you, but the interface is through finger movements or speech, which are very slow – Elon Musk. Elon Reeve Musk FRS is a technology entrepreneur, investor, and engineer.

ALLIANCE: What to expect on Friday (8 November 2019)? The analysis of overall market action on 7 November 2019 revealed that buying power was stronger than selling pressure. As such, FBMKLCI would likely trade above 1,609.33 on 8 November 2019.

CTL: Bank Negara wants cash payments capped at RM25,000 next year
CTL: Business community says ‘no’ to RM25K limit
Handal Energy: Sees 5.03% stake crossed off market
Hong Kong: Singapore and Shanghai threaten HK’s status as finance hub

Posted in OCT


My first thought in the morning, is thank you for another day.

Squeeze – Black Coffee in Bed

What’s up buddy?

HLIB: One-stop RTA furniture manufacturer
Spring Art is a one-stop RTA office and household furniture manufacturer that caters to 35 countries and expected to generate decent growth moving forward on back of its in-house design, manufacturing and marketing team. We project a 3-year core net profit CAGR of 11.2%, underpinned by additional subcontractor capacity and its expansion plans into North America and Europe. We derive a fair value of RM0.28, based on 12.5x PE (c.19% premium to its peers average of 10.5x, reflecting its superior margins) tagged to FY20 EPS of 2.2 sen.

I wasn’t drifting. I was only trying to remember what primroses mean. Would it be innocence, or is that for daisies? ¯_(ツ)_/¯

TECH NEWS: Maxis partners Amazon to accelerate cloud adoption for businesses

BERNAMA via EDGE (Nov 7): Maxis Bhd aims to help accelerate cloud adoption for businesses in Malaysia by partnering with Amazon Web Services (AWS), the world’s most comprehensive and broadly adopted cloud platform.

Maxis will deliver cloud technologies over the converged 4G mobile and fixed network, simplify the digital transformation journey for businesses and realise the benefits in improved productivity and performance.

In a statement today, Maxis said it will build deep skills on AWS through comprehensive training, accreditation and certification programmes to enhance capabilities and responsiveness to its customers.

“Businesses in Malaysia will have access to best-in-class cloud solutions, as well as the largest pool of experts in the country who can assist them end-to-end on their journey to the cloud.

“We’re eager to help accelerate cloud adoption in Malaysia and empower businesses here to be better equipped for Industry 4.0 and the digital economy,” said Maxis chief enterprise business officer, Paul McManus.

Maxis will establish a Maxis Cloud Business Centre that offers customers Professional and Managed Services with staff trained by AWS to increase business agility and drive better business outcomes.

Both companies will also work together in accelerating adoption of cloud and developing industry solutions capabilities for the benefit of businesses in Malaysia.

Dear RHB, BINACOM TP 1.50. 😀

A poem by Robert Frost: A Boy’s Will

“A Late Walk –
A Tree beside the wall stands bare,
But a leaf that lingered brown,
Disturbed, I doubt not, by my thought,
comes softly rattling down.
I end not far from my going forth
By picking the faded blue
Of the last remaining aster flower
to carry again to you.”
― Robert Frost, A Boy’s Will

Posted in NOV


You smoked another cigarette and we shared another coffee and it was just another morning that made me realise that this is all it takes to be happy.

F&N: Declares 33 sen dividend despite lower 4Q net profit
Axis REIT: To place out up to 37mil new units to EPF, KWAP
Kim Hin Joo: Says unaffected by restructuring of Mothercare in UK
IPO: The US$2 trillion question hanging over Aramco’s IPO

Moliendo Cafe cover by Martin Zarzar.

What’s up buddy?

KENANGA: An update on VELESTO where it was awarded a contract by Carigali Hess for its Naga 8 jack up drilling rig, valued at USD131m. The contract is for 3 years, with 3 x 6 months extension options, commencing 2HCY20. Excluding add-ons, we guesstimate daily rate for the contract to be ~USD90k/day – highest in the region, given the long contract duration. Positive on the award, given the higher charter rates and increased earnings visibility. Maintain OP with TP of RM0.40. Meanwhile, UZMA is suing two subcontractors to recover overpayments on the Kinabalu construction project. Overall, we are neutral as related expenses from the dispute has already been incurred in FY19A, and hence, earnings impact (if any) can only be positive should the court rule in favour of UZMA. Meanwhile, outlook for the company is also expected to improve, bouncing back from an underwhelming FY19. Upgrade to MP with TP of RM1.05.

EDGE (Nov 6) Malaysia climbs to 17th country with most number of detected mobile ransomware Trojans in 2019 Malaysia has climbed from 36th to 17th country with the most number of detected mobile ransomware Trojans in the first nine months of 2019, according to Kaspersky.

In a statement today, the cybersecurity company said the installation packages for this type of threat blocked by Kaspersky revealed a 58% increase as compared to 2018.

The firm said that ransomware is found not only on desktops, but also on mobile devices — and it is also on the rise there.

It said the most widespread type of desktop ransomware is the cryptolocker, a malware that encrypts data and offers to restore it if users pay ransom.

Kaspersky Southeast Asia general manager Yeo Siang Tiong said more Malaysians are moving towards online banking now and adoption rate is expected to increase tremendously in 2020, “more so with the Budget 2020 where Malaysians will receive RM30 digital cash as a form for the government to push the e-wallet adoption in the country”.

“With this, the mobile users in the country should start paying attention to securing their smartphones, beyond the physical protection, but the virtual world too,” said Yeo.

Kaspersky said International Data Corporation (IDC) shared that 10% of Malaysian replaced their smartphones within a year, while 35% said they would keep their smartphones for three years before upgrading.

It said IDC Quarterly Mobile Phone Tracker listed both the top two brands of smartphones shipped worldwide were Android, followed by iOS on the third.

The firm said Forrester Research also published that Android phones made up 74% of the market.

Kaspersky said Android has an open source system, and the code is called ‘Android Open Source Project’, allowing the developers of Android apps to take the source code and create their own custom OS with it.

It said this makes Android devices easier to ‘root’, involving the removal of the manufacturer’s software restrictions and installing unauthorized apps, which translate to greater chance of vulnerabilities in the code on the phone.

Yeo said that for hackers, it makes sense to write hacking code for a system that is not only easier to hack, but is also more widely used.

“There is a much wider base of user information to steal so most of mobile malware aimed at Android devices, due to their popularity. It is like the ‘Spray and Pray’ method.

“Besides keeping the Android devices up to date with the manufacturers [which] seldom push out the latest OS to the users, users should begin to start having security solution on their Android devices,” said Yeo.

If technology is getting smarter, does that mean humans are getting dumber?

Posted in NOV


Night night, dear.

According to malaysianwireless;

As at Oct 2018, there are an estimated 22,682 towers in Malaysia, representing almost 2,000 mobile subscribers per tower.

Estimated tower count for Malaysia:
YTL: 5,000.
edotco: 4,000.
Maxis: 3,800.
Digi: 3,400.
State-back Towercos: 3,200.
U Mobile: 1,000.
Telekom Malaysia: 1,000.

Maroon 5 “Moves Like Jagger” cover by Sam Tsui. Enjoy!

Be mindful. Be grateful. Be positive. Be true. Be kind.

Life Is A Lemon And I Want My Money Back (w/lyrics) ~ Meat Loaf

EDGE KUALA LUMPUR (Nov 5) Cuscapi collaborates with Zando Technologies to provide F&B solutions in Myanmar Point-of-sale systems provider Cuscapi Bhd has signed a memorandum of understanding (MoU) with Zando Technologies Co Ltd to collaborate in offering competitive solutions to end-customers in Myanmar’s food and beverage (F&B) industry.

Zando is a Myanmar-based company involved in systems integration and IT solutions for shopping complexes and F&B.

“The signing of the MoU with Zando will enable Cuscapi to explore business opportunities and expansion into Myanmar’s F&B market, to offer new C360 Engage point of sales and restaurant management solutions,” Cuscapi said in a filing yesterday.

The company said the MoU is effective for an initial period of one year and may be renewed by mutual agreement between the parties.

Cuscapi’s share price fell 1.5 sen or 7.32% to 19 sen yesterday, with a market capitalisation of RM163.26 million.

Star (Nov 5) – TRADING IDEAS: Cuscapi has entered into a MOU with Zando to explore business opportunities and expanding into Myanmar’s F&B market to offer new C360 Engage Point of Sales and restaurant management solutions, Retail and Mall Management Solution. Mesiniaga has accepted a Letter of Award issued by the Employees Provident Fund (EPF) for the supply of computer hardware, software, maintenance and IT related services worth RM16 million.

What’s up buddy?

AMBANK: Press Metal: Sarawak’s sales tax to hurt earnings – HOLD

HLIB: Closed position: We had squared off our position on ARBB (11.1% gains) yesterday after hitting R2 upside target.

Posted in NOV


EDGE KUALA LUMPUR (Nov 4): Top Glove at risk of being removed from KLCI — AllianceDBS Top Glove Corp Bhd is at risk of being removed from the FBM KLCI if the rubber glove manufacturer’s share price deteriorates further, AllianceDBS Research Sdn Bhd analyst Quah He Wei wrote in a note today.

“The semi-annual review of the (30) KLCI constituents will take place in December 2019 based on closing prices on Nov 30, 2019.

“It (Top Glove) is currently ranked 35th by market capitalisation and will be automatically removed if it falls to 36th or below during the review,” Quah wrote.

At Bursa Malaysia’s afternoon close today, Top Glove’s share price settled up 11 sen or 2.5% at RM4.51 among top gainers. The stock saw 2.49 million shares traded.

At RM4.51, Top Glove has a market capitalisation of RM11.65 billion. At the time of writing this report, Top Glove has not issued a statement in response to AllianceDBS’ note.

  • OMG, really?

Today is another day at Bursa! Today is not a happy day!!. Grr

If you’ve got nothing to dance about, find a reason to sing.

What’s up buddy?

HLIB: Traders Brief – Tracking Wall Street’s bullish tone Dow outlook: Despite the uncertain developments on the trade front as market participants will be awaiting for the “phase one” mini deal to be signed over the near term, we believe the recent stronger than expected economic data will be able to lift the market sentiment for now, translating to further upside potential on the Dow towards the next resistance of 27,700 (if 27,400 immediate resistance is taken out).
KLCI outlook: On the local front, buying support may spillover, tracking the bullish tone on Wall Street, coupled with the slowdown in easing bias tone on the interest rate outlook by the Fed; the technical rebound may persist towards the resistance of 1,620. However, should there be any negative surprises from the November reporting month, we expect that profit taking activities may quickly emerge.

BBC (Nov 4) – McDonald’s CEO Steve Easterbrook fired after dating employee. McDonald’s has fired its chief executive Steve Easterbrook after he had a relationship with an employee. The US fast food giant said it had been consensual, but Mr Easterbrook had “violated company policy” and shown “poor judgement”. In an email to staff, the British businessman acknowledged the relationship and said it was a mistake. “Given the values of the company, I agree with the board that it is time for me to move on,” he said. Mr Easterbrook, 52, who is divorced, first worked for McDonald’s in 1993 as a manager in London before working his way up the company…..

  • I’m gonna get some real food on the way home… some McDonald’s! LOL

BJMEDIA (6025)* susp (Para 8.04(5), Main Market LR) and to be delisted on 07/11/19 unless appeal submitted by 04/11/19) – still pending.

Posted in NOV


Stock Watch List (Nov 4)

EDGE (Nov 1) Cycle & Carriage Bintang Bhd (C&C) has sunk into its fourth straight quarter of losses, posting a net loss of RM12.24 million in its third quarter ended Sept 30, 2019, against a net profit of RM3.51 million in the previous corresponding quarter, due to lower sales and weaker margins. The group recorded a loss per share of 12.15 sen, versus earnings per share of 3.48 sen previously. Quarterly revenue contracted 39.4% to RM258.87 million from RM427.21 million.

  • I am emotional about engines, if you hurt my car, you hurt my heart. LOL. I’d bet on a shortfall, but CYCLE & CARRIAGE BINTANG BHD – CCB (2925) always has the capacity to surprise us.

Mercedes Benz by Janis Joplin. Oh Lord, won’t you buy me a Mercedes Benz…..

  • I’d rather walk in the rain with a man who treats me like a queen than to ride in a Benz with a man who treats me like crap. LOL

My small personal investment – Ace Market: UCREST, BINACOM. Main Market: CUSCAPI, HEVEA.

Fly Like An Eagle – The Steve Miller Band

NOTE: The ACE Market was derived together with the unification of the Main and Second Board into the Main Market of Bursa Malaysia in 2009. The ACE Market is seen as the ideal market for start-ups and new companies which are run by entrepreneurs who are looking to push for more capital by listing their companies public.

Launched at Invest Malaysia Kuala Lumpur 2017, the LEAP Market is an alternative and efficient capital-raising platform for underserved SMEs to prove their true potential. It is seen as a stepping stone for them to transfer to the ACE Market or even the Main Market in the future.

Posted in NOV