Tuesday, December 13, 2011

Claim your “Bantuan Rakyat 1Malaysia (BR1M)” Now

As highlighted in 2012 Budgets, households who earn less than RM3,000 per months are eligible to claim for one-off cash assistance under “Bantuan Rakyat 1Malaysia (BR1M)”.
For those who are eligible, the registration will be opened until 10th January 2012 at various locations including schools. Registration form we be distributed via newspapers and also can be downloaded from Ministry of Finance website.
An action will be taken against people who claim the one-off RM500 aid, but not qualify & submitting false information.
Below are the eligibility criteria,

  1. Malaysian Citizen
  2. Gross household income of less than RM3,000 per month.
  3. Senior citizen who are more than 60 years old, stay alone & earn less than RM3,000 per month
  4. Those receiving aid from the Welfare Department under the e-Kasih were also eligible
Definition of the household
  1. Head of family with dependant
  2. Father, mother or single with dependant
  3. Married children is considered separate household
For more information kindly browse the following webpage,
  1. Ministry of Finance webpage on BR1M
  2. BR1M mechanism
  3. List of registration counter
  4. Registration form

林國泰:博奕結合休閑‧雲頂營業多元化

雲頂(GENTING,3182,主板貿服組)擬斥資38億美元(約120億令吉)在美國邁阿密興建全球最大賭場兼休閒勝地,這項計劃舉世矚目,卻也令市 場人士擔心,這項計劃可能引來一些爭議,特別是賭場往往與“偏門收入”聯繫在一起,其所造成的社會與經濟影響效應,能否超越博奕收入所產生的經濟效益,確 實讓人關注。

雲頂主席兼首席執行員丹斯里林國泰表示,他有信心將亞洲的成功模式轉移到海外其他地方。該公司在新加坡經營47億新元(約115億令吉)的賭場兼度假勝地 “聖淘沙名勝世界”,手上也擁有充裕的現金,可以在現金緊張的美國市場派上用場,況且美國政府正探討減少失業率、降低國家財政開銷等方案,為雲頂的擴張計 劃減少擋路石。

林國泰認為,賭場結合有益身心的度假勝地,是比較理想的業務組合,不論是從金融或政治的層面來看,這不純粹只是博奕而已。

“如果只是為了賺錢,我們不會為了這個目的扼殺自己的前程。”

雲頂集團在大馬、新加坡及紐約擁有資產,主要圍繞在主題公園及度假勝地,賭場只是另一個吸引遊客的賣點。

林國泰表示,雲頂集團的經營方式也像家庭企業,他宣稱,員工不太常摩擦,部份原因是他們的就業環境不錯、工資也相當有競爭力。

林國泰(簡稱林)日前在新加坡接受《華爾街日報》(簡稱華)專訪,以下是訪談內容摘錄:

華:雲頂集團正把業務擴展至亞洲以外地區,你認為是否能將亞洲的成功模式複制,然後搬到美國的邁阿密市場?

林:當然可以,而且相信會成功。我們指的是邁阿密,不是擁有30個賭場的拉斯維加斯,邁阿密是一個世 界級大都會,假如你準備前往南美洲,轉換班機的地方會是邁阿密,歐洲人也經常前往邁阿密經商與度假。邁阿密是一個中心點,比較不足的是缺乏與亞洲的聯繫, 如果能將邁阿密與亞洲聯繫在一起,我認為那將會是一個令人雀躍的地方。

為博奕事業增添休閑概念

華:你對經營賭場的概念,如何與一般人認為的抽雪茄、飲酒的賭場區分?

林:在西方世界,他們將博奕視為賭博,在亞洲,博奕的發展,不單單只是賭博,也許西方市場在開始有關行業時純粹是賭博;可是,在亞洲並非如此,博奕的發展提供不少就業機會,也能讓一家人前來度假、消遣,這並沒有甚麼不妥。

我們從休閒的角度發展博奕,提供人們選擇的空間,他們可以到賭場或度假勝地消遣,而不一定只是吸引賭客,他們可以自己定位。以雲頂集團來說,當我們投資博奕,需要的是額外的元素如家庭休閒,我們認為可以帶給當地社區、甚至是一個國家最大的利益


華:與博彩背道而馳的家庭消遣概念,如何從雲頂集團衍生而來?

林:在大馬的熱帶氣候,英國人習慣到高原勝地避暑,以遠離熱帶炎熱的氣候。何不讓亞洲人也帶他們的家人一起來度假?這就是雲頂集團當年開始發展高原勝地的推動因素,那時腦海里並沒有閃過單單經營博奕務的念頭。

不過,在時任首相的倡議之下,為加速推動大馬的經濟發展,需要更多的投資、興建更多的大型設備、塑造更多就業機會,進而推動經濟成長,這就是大馬經濟成功的過程。先父林梧桐的成功事蹟,也是許多人認為大馬成功的實例。


數字不是最重要的

華:你是否花相當多的時間在公司每日的運作、或比較多監督式的管理?

林:對我來說,數字不是最主要的,身為集團領導人,我要兼顧的是數字以外的東西,集團的經營理念儘量簡單,我們要顧及的是共同目標,好比一支足球隊,每個人扮演不同的角色,假如每個人是進攻者,這樣就不大好。

我儘量確保大家工作開心,不讓他們認為那是朝九晚五的工作,沒有他們,我也動不了,這是我看待本身角色的重點,如果你問我複雜的管理決策,坦白說,我沒有。


華:一些亞洲國家,包括新加坡,嘗試限制博奕活動在遊客範圍,而不鼓勵自己的人民前往賭場,請問:政府的條規是否妨礙你們業務的發展?

林:我不認同“只供外國人”的策略,這樣等於是單程交通,凡事必須互惠互利,你不希望只來賭博的遊客,而是期待打造一個可讓遊客感到舒適的地方,同時可讓他們瞭解你的國家。

把僱員當成一家人

華:你如何看待僱員對公司的滿意度,有助於企業的成功?

林:對我們的僱員,我們是以大家庭成員來看待他們,我們希望他們感到舒適、開心。譬如,在郵輪上,我 們面對工作准證限制的情況不多,那是一個學習交易的平台。我們尊重本身的員工,他們不需要填寫一大堆表格或是蓋上手印,如果受到類似刑事犯的對待,那不是 他們準備面對的情況。基於國家保安考量,我的方案是:要當一名負責任、讓工人信服的僱主,如果工人開心,他們也不會做錯事

Monday, November 28, 2011

新加坡賭業起飛‧雲頂末季業績料更好


雲頂(GENTING,3182,主板貿服組)第三季淨利挫22.02%至5億9千719萬2千令吉,首9個月淨利按年增長20.55%至20億9千458萬8千令吉,基於新加坡聖淘沙名勝世界第四季料吸引更多豪客進場,分析員多預計末季與2011財政年會更好。

大部份分析員並未因其第三季淨利下挫而下調評級,反認為是區域最廉宜的賭場股,料可從穩定大馬市場和起飛的新加坡賭業獲利。

馬銀行研究與黃氏唯高達研究認為,預計聖淘沙名勝世界西區(West Zone)年杪開放,豪客賭廳增加3倍後料吸引更多豪客進場。“樂園中的“變形金鋼”城12月3日開放,長假將吸引更多人潮前往。

紐約聖淘沙則於10月28日營運。

雲頂首9個月,國內賭業賺益按年增長0.3%,主要在豪客賭局更具運氣。同期新加坡賭場也貢獻73.7%稅前盈利,其第三季賺益按年增長2.4%,按季挫1.6%。倫敦賭場營業額按季雙位數增長,勝算則按年增長20%,主要是豪客與普通賭客都有增長。

雲頂大馬有望改善賺益
種植業因原棕油價按季下跌而失利,預料旗下雲頂大馬(GENM,4715,主板貿服組)印尼更多種植地成熟,有望改善賺益。

雲頂第三季核心淨利按年僅增2%、按季增1%,主要是在美元債券交易上失利;另外,電力挫4.2%至1億4千零80萬令吉,儘管電費調整,但仍不能抵銷按年增長9%的高煤炭價拖累;油氣按年挫205%至虧損420萬令吉,主要是人力成本提高所致。

肯納格因其聖淘沙名勝世界業務雖有改善,然而仍低於預期,下修雲頂2011至2013財政年淨利預測4%至6%;黃氏唯高達下修淨利預測3%至9%;達證券喜愛雲頂,因是雲頂新加坡(GENS)的廉宜代言者。

各證券行維持雲頂大馬淨利預測,主要是新加坡賭場業務改善,英國賭場轉虧為盈,紐約新建賭場初期營運良好,平均每台賭機每日勝算564美元,高於預測70%,預計不過回復正常預測。

Saturday, November 26, 2011

购迈阿密名胜世界 云顶近期公布细节

云顶马来西亚(GenM,4715,主板贸服股)表示,很快将对外公布美国迈阿密名胜世界发展蓝图中的收购计划。

云顶(Genting,3182,主板贸服股)向大马交易所报备,配合迈阿密名胜世界发展蓝图,云顶子公司——迈阿密名胜世界可能在迈阿密沿海一带开设一间赌场及酒店大楼。

云顶企业事务部副总裁郑成福(译音)指出,截至目前,公司无法给予任何评论。

云顶于9月公布迈阿密名胜世界发展蓝图,该蓝图为综合发展计划,囊括主题式酒店(5000间酒店房间)、一栋零售平台(拥有会展中心)、娱乐商场、餐厅、商业设施和住宅大楼。

同时,公司也收购一块拥有永久地契的产业称Omni中心,该收购也是迈阿密名胜世界发展蓝图的部分计划。

Omni中心座落于迈阿密佛罗里达市中心,该地段拥有占地6万400平方尺的购物商场、3万2500平方尺的办公楼、希尔顿酒店(525间房间)和停车场(2300个停车位)。

云顶马来西亚股价起起伏伏,今日以3.85令吉开市,一度涨至3.87令吉,早盘以3.86令吉暂收,半日成交量为178万9500股。

闭市时,云顶马来西亚以3.85令吉作收,下跌1仙或0.26%,全日成交量518万2000股。

云顶今日以上涨2仙(10.30令吉)之姿的优势报开,该股早盘在10.22令吉和10.06令吉的价位游走,早盘休市时报10.08令吉,下跌20仙或1.95%,半日成交量为133万1300股。

云顶终场报10.02令吉,下跌26仙或2.53%,终日成交量为372万3900股。

Genting Q3 2011

Quarter:3rd Quarter
Financial Year End:31/12/2011
Report Status:Unaudited
Submitted By:LOH BEE HONG


Current Year QuarterPreceding Year Corresponding QuarterCurrent Year to DatePreceding Year Corresponding Period

30/09/201130/09/201030/09/201130/09/2010

RM '000RM '000RM '000RM '000
1Revenue5,143,8993,909,20914,495,86411,108,023
2Profit/Loss Before Tax1,431,8091,418,3934,870,8873,211,549
3Profit/Loss After Tax and Minority Interest1,086,5111,222,7273,730,1592,604,524
4Net Profit/Loss For The Period597,192765,9182,094,5881,737,524
5Basic Earnings/Loss Per Shares (sen)16.1620.7256.5847.00
6Dividend Per Share (sen)0.000.003.503.30



As At End of Current QuarterAs At Preceding Financial Year End
7Net Assets Per Share (RM)

4.58004.1800

Sunday, November 20, 2011

New 2012 Financial Guidelines by Bank Negara Malaysia

On the 18th November 2011, Bank Negara Malaysia (BNM) unveiled new financial guidelines to the financial institutions aimed at promoting prudent, responsible and transparent retail financing practices. The guidelines will take effect starting from 1st January 2012.
The guidelines would be applicable to home and vehicle financing, credit and charge cards, personal financing including overdraft facility and financing for the purchase of securities with an exception for share margin financing, which comes under stock exchange rules.
BNM requires all financial institutions to make assessments of a borrower’s ability to afford financing facilities based on a prudent debt service ratio.
The table below is the summary of the guidelines.

ItemsDescriptionEffective Date
Car LoanMaximum tenure capped at 9 years18th Nov 2011
Debt Service RatioCapped at 60% for civil servants. Others, bank to determine1st Jan 2012
Calculated after tax and EPF statutory deductions. To consider all debt obligations.1st Jan 2012
Early Loan SettlementBanks will only be allowed to charge for the cost incurred in processing the loan and not for profit lossJuly 2012
Financial Institutions ObligationTo provide consumers with information on total repayment amount and total interest cost & the impact of an increase in the financing rate1st Jan 2012
Co-operative BanksCooperatives Commission will be imposing the similar requirements1st Jan 2012

Friday, November 18, 2011

OSK Research is maintaining its Overweight stance on the rubber gloves sector.

OSK Research is maintaining its Overweight stance on the rubber gloves sector.

It said on Friday that amid expectations of moves to set a floor price, latex has dropped by about RM4.50/kg from its peak price, and has only RM2.50/kg to fall before reaching its low at RM4/kg, which was the price before the H1N1 outbreak (assuming there is no floor price).

“In light of this, we believe that customers will start to stock up on gloves from now on before the wintering of rubber trees sets in come 1H12. We maintain Overweight on the rubber glove sector,” it said.

OSK Research said Thailand’s Deputy Agriculture Minister, Pornsak Jarernprasert said that the government plans to intervene in the market to keep the rubber price stable by setting a minimum rubber export price of US$3/kg.

The world’s top three rubber producing countries of Thailand, Indonesia and Malaysia are expected to meet this week to discuss the matter.

The research house said assuming the floor price for hard rubber is set at US$3/kg at a US$/ringgit rate of 3.10 and a latex rubber concentration of 60% (with the balance 40% made up of water), the expected floor price would be about RM5.60/kg (US$3/kg x 3.10 x 60%).

“Nevertheless, we believe there is a 50% possibility of the price going either way from the current RM6.60/kg.

“Although we expect some upward bias due to the recent sharp drop in latex price, this would still depend on the outcome of the upcoming officials’ meeting as well as the extent of price speculation on this commodity,” it said.

OSK Research said over the longer term, it continues to believe that latex price will fall because fundamentally, the demand for latex has been anaemic.

The factors are that demand growth is no longer as hot as before because rubber glove manufacturers are gradually shifting to a higher portion of nitrile gloves and global demand is currently not as strong as in 2009/2010 when there was a H1N1 pandemic.

Secondly, the automotive sector has suffered a string of setbacks as the global economic recovery is faltering and the severe flooding in Thailand has caused serious disruptions in many auto manufacturers’ operations.

All these have resulted in weaker demand for hard rubber, which is used to produce tyres.

Tuesday, November 15, 2011

國行明年或降息至2.5% 基貸率有望減至6%

聯昌證券研究報告指出,面對國際不明朗因素,通脹和經濟成長成為我國最大隱憂,其中貨幣政策會議(MPC)更關注明年經濟成長。

 “若我國內需情況出現惡化,國行將加快降息步伐。”


 資料顯示,自貨幣政策會議決定將利息,由2.75%調升至3%后,銀行基貸率由6.3%上調至6.6%。


不會即刻受重擊


 去年5月,當國行宣佈升息至2.5%時,當時銀行基貸率上調至6.05%。


 對于降息預期,馬銀行投銀則持不同看法,該行研究報告指出,我國內需增長穩健,儘管面臨國際動蕩,大馬並不會即刻受到重擊。


 該行認為,我國目前的利率處“中立”水平,加上實際利率(Real interest rate)仍維持負增長,預計明年的隔夜官方利率將維持在3%。


亞洲各國轉策略
降息攻內需增長


國際經濟充滿變數,亞洲各國紛紛轉換策略,轉攻內需增長,各國亦計劃在明年降息,以寬鬆貨幣政策穩住國家經濟成長步伐。


 MIDF證券研究報告指出,除了日本以外的亞洲各國,如印尼已準備在明年實行寬鬆貨幣政策。


 該機構認為,全球成長步伐減速,導致原產品價格放緩,將在短期內推高通脹數字,在此情況下,寬鬆貨幣政策為可行辦法。


 綜觀亞洲各國情況,在過去數個月,澳洲和印尼央行逐步降息,澳洲儲備銀行將現金利率目標下調25個基點至4.5%;印尼銀行在本月10日,大舉將指標利率削減50個基點至6%。


 至于中國、韓國和泰國則是抱持觀望態度,近幾個月來都維持相同水平利率。


 興業證券研究報告指出,泰國在大水災重創后,泰國銀行已頻頻釋出降息訊號,預計本月底利率將調降25至50個基點,屆時利率預計介于3.25%至3%。

Thursday, November 10, 2011

看巴菲特如何买股票的

See how Warren Buffett buys share in this interview

http://youtu.be/X3T4CEN_ovc

Wednesday, November 9, 2011

马来西亚手套公司的分析

Name  Revenue  Net Profit PM LT Lia TL TL/NP  BVPS  P/B EPS P/E
HARTALEGA HOLDINGS BHD        897,826,000.00 201.80 22.48% 55.58 158.10 0.78     1.53 3.64 0.555 10.01
LATEXX PARTNERS BERHAD        458,214,000.00 60.66 13.24% 72.33 200.74 3.31     1.20 1.64 0.274 7.19
SUPERMAX CORP BHD        988,629,000.00 108.78 11.00% 175.38 368.11 3.38     2.21 1.73 0.319 12.01
KOSSAN RUBBER INDUSTRIES      1,025,784,000.00 91.82 8.95% 64.93 343.77 3.74     1.45 2.02 0.287 10.20
TOP GLOVE CORP BHD      2,053,916,000.00 113.14 5.51% 36.86 241.08 2.13     1.85 2.37 0.183 23.99
ADVENTA BHD        421,000,000.00 17.20 4.09% 39.17 194.25 11.29     1.47 1.15 0.113 15.01
CAREPLUS BHD          45,934,000.00         5.45 11.87%       -           -   0.00     0.16    2.18 0.03 13.27