TODAY

DAP Perak assemblyman Paul Yong Choo Kiong, who allegedly raped an Indonesian domestic worker, is expected to be charged in court tomorrow, sources told theedgemarkets.com.

I would not recommend driving on a dark highway while listening to this song:

Crude Oil :
Oil futures steadied on Wednesday after U.S. government data showed a draw down in domestic crude stocks but rises in refined product inventories, while lingering worries about the global economy weighed on the market. Brent crude rose 0.42% to $60.28 a barrel, down from a session high of $61.41. U.S. West Texas Intermediate (WTI) crude settled down 0.8% to $55.71 a barrel, after hitting $57.13 a barrel.

MMO: Singapore will next week begin a public trial of driverless buses that can be booked with an app, part of ambitions to roll out autonomous vehicles across the city-state. I think this is good news. But for those who make a living by driving, driverless vehicles are a serious threat.

There is a song for every single specific mood you could ever have. This song! He has such emotion in his voice and everything in this song makes me want to cry.

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Posted in AUG

TODAY

What’s good today? I don’t know. To me, this could be a good thing.

Hibiscus Petroleum Bhd’s net profit for the fourth quarter ended June 30, 2019 (4QFY19) plunged 75% to RM24.72 million, from RM98.75 million a year earlier, despite recording a 28.4% higher revenue at RM237.07 million from RM184.63 million previously.

The group, however, ended its financial year with a full-year net profit of RM230.01 million, up 13% compared with RM203.71 million in the previous year. Full-year revenue more than doubled to RM988.30 million, from RM394.34 million previously.

Hibiscus attributed the overall improvement to its North Sabah asset, as this was the first full year that the Malaysian asset was under the group’s operatorship.

Both its North Sabah and the Anasuria Cluster are progressing through a capital expenditure programme to drill a total of nine wells in the 2019 calendar year — two wells in the UK and a further seven in Malaysia. – the EDGE

Hibiscus Petroleum Bhd price drops below 1.00 in early trade today. I might say, ironic, isn’t it? Lets sing:

Utusan, Kosmo! won’t shut down after all, but print editions to cost an extra 50 sen, according to MMO. Guys, Please buy Utusan, Kosmo!.

US stocks were lower after the close on Tuesday, as losses in the Basic Materials, Telecoms and Financials sectors led shares lower. At the close in NYSE, the DJIA lost 0.66%, while the S&P 500 index fell 0.79%, and the NASDAQ Composite index declined 0.68%. Falling stocks outnumbered advancing ones on the NYSE by 1,844 to 1,157 and 35 ended unchanged; on the NASDAQ Stock Exchange, 1,680 fell and 961 advanced, while 98 ended unchanged. (Sources: Investing.Com)

Posted in AUG

TODAY

REUTERS: Singapore, Malaysia gain in line with broader Asia; Thailand down.

KLCI still eyeing for a rebound above 1,600. Tracking the positive sentiment on Wall Street, the buying support may spill over to stocks on the local front especially the technology stocks following the license extension for Chinese telecom giant to continue its service towards the current clients.

Nice! Ramble On (Led Zeppelin Cover)

Bloomberg : Twitter Inc. found and deleted hundreds of accounts it said China used to undermine the Hong Kong protest movement and calls for political change. The company said it took down 936 accounts that originated within China and attempted to manipulate perspectives on the pro-democracy movement in Hong Kong. Facebook Inc., acting on a tip from Twitter, said it also found a similar Chinese government-backed operation on its social network, with five fake accounts, seven pages and three groups.

Posted in AUG

TODAY

Now, tonight, we have the sad news about the oldest Bahasa Melayu newspaper in the country will be laid to rest on Wednesday – Aug 21 – after a sustained period of financial uncertainty. All publications under the Utusan Group – Utusan Malaysia, Mingguan Malaysia, Kosmo, and Kosmo Ahad – will cease all print and online publications, the Star has said. This is sad news indeed, though not entirely unexpected.

Posted in AUG

TODAY

Lets sing

19 Aug 19 (overnight)

US White House adviser Kudlow:
-Sees no recession on the horizon for the US.
-We’ve faced severe monetary restraint from the Fed.
-All what needs to happen here is for the Fed to do what it needs to do, which is to begin lowering rates.
-US and Chinese negotiators will speak in the next week or 10 days.
-If lower level talks pan out we will still have face to face meeting in Sep.
-China response to Hong Kong protests could impact trade talks.
-Regarding Hong Kong “we don’t want violence”, US wants a humane ending.

Market:
-US stocks rebounded strongly; DJIA and S&P 500 ended up by +1.20% and +1.44% respectively.
-US 10-year treasury yield recovered to close at 1.562%.
-USD/SGD registered the largest 1-day drop in one month (1.3844, -0.32%).
-EUR/USD closed lower for the fourth straight day (1.1089, -0.15%).
-GBP/USD gained +0.54% (1.2146), the largest 1-day advance in one month.
-USD/CNH traded in a narrow range between 7.0433 and 7.0580 before closing little changed at 7.0446 (-0.04%).

One of my favourite :

Posted in AUG

TODAY

Christina on the Coast. HGTV “Flip or Flop” luminary Christina El Moussa is now Christina Anstead and her new show “Christina on the Coast”.

Who at HGTV thought a design show within the context of a family being torn apart by divorce was a good idea?

Ever notice how every client on HGTV “Property Brothers” is two clients — even if only one person is buying the home in question?

LOL. Very odd.

I used to love watching HGTV. I now watch somewhat sporadically.

Local News – FMT : Presiden Umno, Ahmad Zahid Hamidi memaklumkan status pemastautin tetap diberikan kepada Dr Zakir Naik ketika Muhyiddin Yassin menggalas jawatan timbalan perdana menteri.

Zahid, yang menggalas portfolio menteri dalam negeri dari 2013 hingga 2018 berkata, keputusan memberikan status pemastautin tetap kepada Naik dibuat pada 2015, selepas permohonan dibuat sebelum itu lagi.

Beliau ditemui pemberita selepas merasmikan mesyuarat Umno Petaling Jaya hari ini, dan ditanya adakah Muhyiddin, kini presiden PPBM, bersama kerajaan ketika itu.

Mengenai seruan mengusir Naik susulan kenyataannya yang menyentuh penganut Hindu dan orang Cina tempatan, Zahid menyeru parti-parti Pakatan Harapan menghormati pendirian Perdana Menteri Dr Mahathir Mohamad dalam isu itu.

I don’t want to blow it out of proportion, but in the larger scheme of things, the fact that the government allowed it to be published means something.

Posted in AUG

TODAY

Indonesia’s president on Friday proposed to move the capital from Jakarta, a crowded city of 10 million people, to Kalimantan, on the Indonesian side of the island shared with Malaysia and Brunei, in a speech to parliament, a day before the country’s independence day holiday, Reuters has said. I think that is a great piece of news. Let’s be closer together is not a bad news.

Borneo is enormous. Three countries share the world’s third largest island. Indonesian Kalimantan covers the biggest area on the southern part. Malaysia’s Sarawak and Sabah occupy the northern third. Brunei sits between Sarawak. According to several reports, two of the most likely locations for the new capital city are Kutai Kartanegara in East Kalimantan and Gunung Mas in Central Kalimantan. The new capital city will initially be home to 1.5 million people and its construction is expected to cost around US$33 billion.

Vizione Holdings Bhd is looking to raise up to RM59.08 million via a private placement of up to 10% of its total shares to third party investors to be identified later. Proceeds from the exercise will be used to partly finance existing construction projects, as well as for the payment of tender/contract deposits and/or performance bonds for new projects. The exercise entails an issuance of up to 62.19 million new shares, according to the EDGE. An alternative to the IPO: the private placement. Private placements are sometimes the only source of raising substantial capital for more risky ventures or new businesses.

Posted in AUG

TODAY

REUTERS – Trump says U.S. moving rapidly towards trade deal with Britain!

16 Aug 19 (overnight)

President Trump:  – Fed’s Powell should be cutting rates because countries around the world are cutting and we want to stay even
Fed’s Kashkari:   – Sees some cautious signs, some signs of optimism on economy  – It’s definitely a nervous time  – Fed will debate what to do on rates; he is leaning toward further rate cut  – Fed policymakers are committed to ignoring politics, focusing on jobs
Fed’s Bullard:  – World is in the middle of a global slowdown, assessing what it means for the US  – Yield curve inversion would “have to be sustained over a period of time” to be taken as a “bearish” signal for US economy  – Will not predjuge Sep meeting, but has eye on tips breakeven showing low inflation expectations  – Some of recent market downdraft might be “overdone” given US. data
Fed confirms Powell’s address at upcoming Jackson Hole:  – Fed Chair Powell will deliver remarks next week (23-Aug) at an annual central bank forum in Jackson Hole, Wyoming
US retail sales beat estimates in Jul:   – Headline retail sales came in at 0.7% vs 0.3% cons  – Retail sales ex-autos came in at 1.0% vs 0.4% cons
US industrial production unexpectedly fell in Jul:  – IP came in at -0.2%, vs +0.1% cons and Jun’s reading of +0.2%
US TIC flows:  – Net overall capital flow +$1.7b in Jun vs revised +$37.6b in May (previous +$32.9b)  – Japan’s UST holdings increased to $1.123 trln from $1.101 trln  – China’s UST holdings increased to $1.113 trln from $1.110 trln
ECB’s Banks’ Integrated Reporting Dictionary (BIRD) website hacked:  – ECB says it shuts down compromised “BIRD” website until further notice  – Mail addresses and other contact data may have been captured  – No internal systems or market-sensitive data compromised

Australia jobs data beats estimates in Jul:  – 41.1k new jobs added vs 14.0k in Reuters poll  – Unemployment rate held at 5.2% as expected 

China conducts medium-term lending facility (MLF) loans:  – PBOC injects 400 bln yuan via one-year MLF at 3.30%, unchanged from previous operation  – Effectively rolled over 383 bln yuan of MLF loans maturing on Thu and added even more cash.

HK Financial Secretary Paul Chan:  – Announces economic support measures worth HKD 19.1b (USD 2.4b), expects to boost HK’s economy by 0.3ppt    – Measures not related to political pressure from protests   – Hopes measures restore confidence in economy and people will spend more  – Salaries tax rebate to 100% from 75%, still capped at HKD 20,000  – When asked about HKD withdrawals, says not seeing abnormal activities, confident in banking system

Markets:  – US stocks finished higher after whipsaw session, S&P 500 +0.3, Dow +0.3%%.  – US Treasury yields continued to drop, 10yr below 1.5% for first time in 3 yrs.  – US 30yr yield dropped to a new record low below 2%.  – WTI declined 1.1% to $54.64/bbl while gold future rose 0.4% to $1,533.20/bbl  – USD/JPY fell back below 106 from about 107 a day earlier as risk aversion returns.  – USD/SGD pulled back after touching new marginal high of 1.3907 to close 1.3889.

Posted in AUG

TODAY

Stocks to Rally in Asia on Tariff-Delay Relief. US Market : Stocks soared on Tuesday after the U.S. decided to delay tariffs on certain Chinese goods while outright removing some items from the tariff list, reigniting hopes Washington and Beijing could reach a long-term resolution. Europe Market : The pan-European Stoxx 600 closed provisionally up 0.6%. Markets had traded lower earlier in the session. Trade-sensitive sectors like autos and basic resources were among the biggest gainers.

Posted in AUG

TODAY

Money talks : Four Israeli citizens and the financial firms they owned or operated were sued by U.S. securities regulators for allegedly using bogus swap and option trades to steal about $80 million from investors, including some Americans. The U.S. Commodity Futures Trading Commission filed a complaint Monday in Chicago federal court against Lee Elbaz, Yakov Cohen, Yossi Herzog and Shalom Peretz, along with companies including Yukom Communications Ltd. and Linkopia Mauritius Ltd, according to Bloomberg. I’m a consultant, so time is money.

Posted in AUG