If you have the address please share with us also

By the way my apologies for recommending to wait for WB at target price of 0.93, the sudden price movement by mother before ex-date caught me on the wrong foot. I am still not adding to my holdings of WB as I don't trust the British Pound, which is weakening ALL OVER AGAIN. I was a little lucky by divesting some to BTOTO which has been doing better lately.

This post has been edited by calmwater: Jan 6 2010, 02:13 AM

Tired of waiting for WB to come down , YTLPOWR rock solid @ 2.18 - 2.19 , next quarterly report and Div announcement just one month away. Q today at 0.97, for 400 lots, all matched.

This post has been edited by calmwater: Jan 19 2010, 09:11 PM

Just hoping for a better result this quarter as last quarter Seraya almost didn't contribute anything.

They must not repeat same performance this quarter, oh please!!

Cayman is a tax haven, read as follows.

Financial services industry
The Cayman Islands are a major international financial centre. The biggest sectors are "banking, hedge fund formation and investment, structured finance and securitization, captive insurance, and general corporate activities."[13] Regulation and supervision of the financial services industry is the responsibility of the Cayman Islands Monetary Authority (CIMA).

The Cayman Islands are the fifth-largest banking centre in the world;[14] with $1.5 trillion in banking liabilities.[13] There are 279 banks (as of June 2008), 19 of which are licensed to conduct banking activities with domestic (Cayman based) and international clients, the remaining 260 are licensed to operate on an international basis with only limited domestic activity.[15]

One reason for the Cayman Islands’ success as an offshore financial centre has been the concentration of top-quality service providers. These include leading global financial institutions (incl. UBS and Goldman Sachs), over 80 administrators, leading accountancy practices (incl. the Big Four auditors), and offshore law practices (incl. Maples & Calder and Ogier).[16]

Since the introduction of the Mutual Funds Law in 1993, which has been copied by jurisdictions around the world, the Cayman Islands have grown to be the world’s leading offshore hedge fund jurisdiction.[16] In June 2008 it passed 10,000 hedge fund registrations, and over the year ending June 2008 CIMA reported a net growth rate of 12% for hedge funds.[17]

Starting in the mid-late 1990s offshore financial centres, such as the Cayman Islands, came under increasing pressure from the OECD for their allegedly harmful tax regimes, where the OECD wished to prevent low-tax regimes from having an advantage in the global marketplace. The OECD threatened to place the Cayman Islands and other tax havens on a "black list" and impose sanctions against them.[18] However the Cayman Islands successfully avoided being placed on the OECD black list in 2000 by committing to regulatory reform to improve transparency and begin information exchange with OECD member countries about their citizens.[18]

The Cayman Islands had previously appeared on the FATF Blacklist in 2000.[citation needed]

In 2004, under pressure from the UK, the Cayman Islands agreed in principle to implement the European Union Savings Directive (EUSD), but only after securing some important benefits for the financial services industry in the Cayman Islands. As the Cayman Islands are not subject to EU laws, the implementation of the EUSD is by way of bilateral agreements between each EU member state and the Cayman Islands. The government of the Cayman Islands agreed on a model agreement, which set out how the EUSD would be implemented with the Cayman Islands.[19]

A report published by the International Monetary Fund (IMF), in March 2005, assessing supervision and regulation in the Cayman Islands' banking, insurance and securities industries, as well as its money laundering regime, recognised the jurisdiction's comprehensive regulatory and compliance frameworks. "An extensive program of legislative, rule and guideline development has introduced an increasingly effective system of regulation, both formalizing earlier practices and introducing enhanced procedures," noted IMF assessors. The report further stated that "the supervisory system benefits from a well-developed banking infrastructure with an internationally experienced and qualified workforce as well as experienced lawyers, accountants and auditors," adding that, "the overall compliance culture within Cayman is very strong, including the compliance culture related to AML (anti-money laundering) obligations."[20]

On May 4, 2009, United States President Barack Obama declared his intentions to curb the use of tax havens by multinational corporations. In his speech, he singled out the Cayman Islands as a tax shelter.[21] The next day, the Cayman Island Financial Services Association submitted an open letter to the President detailing The Caymans' role in international finance and its value to the US financial system.[22]


Rich tycoons really know where to hide their money.

If there is a renewal it could be after the next election. I don't think gov't will renew before that because opposition likely to make lot of noise. The first IPP by YTLPOWR is also the most criticised and always used as an example of a lopsided deal.

But who will be in control? BN or Pakatan ?

Still too early to speculate.

If not renewed can either be sold to a poor country like Bangladesh or become a museum piece.

This post has been edited by calmwater: Feb 24 2010, 10:15 AM

Those hydro plants are usually quite small + they are far off from johor and Terengganu.

As for Bakun I personally think the submarine cable idea is too expensive, the gov't is always coming up with all sorts of stories about this consortium and that consortium going to implement the cable laying.

It won't happen!!!

So don't worry YTLPOWR surely will continue to operate the power plants in Malaysia, maybe even bigger ones than before. Just need to wait for the right timing for approval.

My average price for WB @ 0.93 , made some during Christmas but now kosong lor

Did shift a large part to BTOTO, so far no ang pau yet. Maybe mid march. hopefully.

West Malaysia is facing a water crisis and need to undergo massive peninsula wide restructuring but Selangor gov't playing political games, Najib very frustrated.

Not much available for Hydro Electric production, except some small dams here and there mostly in ulu areas.

Nuclear plant in an Islamic country?? Look at Iran. They claim it is for safe use (power generation) , but U.S. want to taruh them.

The best bet in my view for West Malaysia is gas powered power plants. Why? Because gas prices are quite low now and (over supply situation) we are in the part of the world with largest natural gas production- Indonesia is largest exporter.
Power Seraya will get it's gas for new power plant from Indonesia. If malaysia could use some of it's own + have a long term agreement with indonesia, we can have a good solution for power generation for the next few decades.

As petroleum prices are expected to go up in the coming years, natural gas might be the only way to go.

YTLPOWR with it's experience in new gas fired co-gen plant at power seraya can provide very good solutions for future power needs in Malaysia, but not so soon as we still have over capacity, at present about 40%. Maybe no need for new power plants for next few years.

Just my 2 cents.

This post has been edited by calmwater: Feb 24 2010, 09:32 PM

Gensingapore? What is that?

Genting is down 15% since casino opened for business recently. Why?

(i) Could be it was pushed up too high ever since they got the casino license.

(ii) Singaporeans have to pay s$100 per visit to enter the casino. They want Genting to make money from foreigners and not from singaporeans.

(ii) For now it is the only casino, what will happen when their rival Vegas Sands opens for business on April 27th.

For the above reasons I won't touch Genting Singapore.

Something does not seem right with YTLPOWR. Could be the POUND. I dont like what I see. Sold all my stock today. Good luck to everyone.

Past few weeks GBP has been falling, falling and falling. BNM on the other hand may raise interest rates March 04(analyst are expecting due to better economic numbers). If that happens the fall of the pound may accelerate and go below 1:5

Live rates at 2010.03.01 02:55:03 UTC
1.00 GBP = 5.14299 MYR
United Kingdom Pounds Malaysia Ringgits
1 GBP = 5.14299 MYR 1 MYR = 0.194439 GBP


As for Bank of England rate decision on March 04 as well, may see them leave their rates as unchanged due to poor economic condition, lagging the U.S. and Euro countries in recovery.

To play safe as upside seems limited, liquidate and take a break.

My moves are sometimes quite drastic.

This post has been edited by calmwater: Mar 1 2010, 10:57 AM

Seems like the pound is falling off a cliff.

Live rates at 2010.03.01 14:00:03 UTC
1.00 GBP = 5.05152 MYR
United Kingdom Pounds Malaysia Ringgits
1 GBP = 5.05152 MYR 1 MYR = 0.197960 GBP

As anticipated, the pound has gone below 1:5

Printed from the XE Universal Currency Converter at: www.xe.com/ucc

Live rates at 2010.03.10 13:28:03 UTC
1.00 GBP = 4.95987 MYR
United Kingdom Pounds Malaysia Ringgits
1 GBP = 4.95987 MYR 1 MYR = 0.201618 GBP


I am surprised YTLPOWR is @ 2.29, going up about 15 sen after announcement of 3.75 sen div.

If we look at the charts, YTLPOWR came down below 2.00 to as low as 1.70 in tandem with falling pound and then rose up with a rising pound.

It's current price movement seems unusual. I can only guess either some good news coming or some goreng activity till the obvious happens.

For the last quarter the conversion rate was 1:5.5

That's about 10% less profit contribution from Wessex for the next quarter results not to mention the asset value. Though the actual percentage will be known at end of March.

No plans to move in, not until the mother goes below 1.90.

This post has been edited by calmwater: Mar 10 2010, 09:45 PM

So was this the reason for the recent price run up.


Four Companies Selected To Rehabilitate Klang River


KLANG, March 13 (Bernama) -- The Selangor government has selected four companies to carry out the Klang River rehabilitation and development project, which is part of the state's economic stimulus package, unveiled last year.

Menteri Besar Tan Sri Abdul Khalid Ibrahim said the three companies, TSS-Mako Engineering Sdn Bhd, GJA Engineering Sdn Bhd and Wessex Water I-Bhd Consortium were chosen from among 37 companies.

Meanwhile, DPZ Asia Sdn Bhd was selected to design and plan the project given its wide experience not only in Malaysia but also in Vietnam, China, New Zealand and the United States.

Speaking at a press conference on the sidelines of the Klang River Carnival at Taman Pengkalan Batu here, he said the three companies were financially strong and were experienced in river cleaning and development.

He said TSS Mako would work closely with Handong Engineering & Construction Co Ltd, Korea Engineering Consultants Corporation and Yooshin Engineering Corporation of South Korea.

The companies were previously involved in various water projects including South Han River Maintenance, Seoul-Incheon Navigation Channel Project and Gemalink Container Terminal Project Phase One in Vietnam.

Meanwhile, GJA a Bumiputera company, designed and built several projects for the Education Ministry in Malaysia while Wessex Water, which was acquired by YTL Power supplys water and sewerage treatment in South West England.

It will team up with I-Bhd, the developer of the RM2.0 billion digital i-city project in Shah Alam for this river rehabilitation project.

"This is a public-private partnerhip, where senior and technical representatives of each of the three companies will form the Klang River Rehabilitation and Development Project Secretariat with the Selangor state government," he added.

He said the RM1 billion would be spent in development cost while another RM1.0 billion would be spent on cleaning and rehabilitating the river.

The government has gazetted 50 metres from the river as a "river reserve" to prevent any new development or settlement along the 120 kilometre-long river.

The initial stage of the project would take between two to three years to complete while the entire project will be developed in about 15 years.

This post has been edited by calmwater: Mar 15 2010, 03:22 AM

Bond issuers if I am not mistaken get a fixed return when they are due after X number of years. I don't think they are affected by Div allocations or issue bonds based on past and future div.

Just a layman's view. Maybe a bond expert can clarify.

Mat bond, James bond any one out there?

This post has been edited by calmwater: Mar 21 2010, 04:21 AM

So maybe when the bonds are due the price may be pushed higher in order to pay fewer shares to the bond issuer.

By the way, are you concerned by the falling pound and Sing dollar.

Live rates at 2010.03.21 21:53:03 UTC
1.00 GBP = 4.95143 MYR
United Kingdom Pounds Malaysia Ringgits
1 GBP = 4.95143 MYR 1 MYR = 0.201962 GBP

End of current quarter is a few days away and it is already down 10% from end of last quarter.

Sing dollar last quarter was at 1.00 SGD = 2.4401 MYR

Live rates at 2010.03.21 21:58:03 UTC
1.00 SGD = 2.36236 MYR
Singapore Dollars Malaysia Ringgits
1 SGD = 2.36236 MYR 1 MYR = 0.423306 SGD

This post has been edited by calmwater: Mar 22 2010, 06:07 AM

Nomura report states quite clearly the effects of the falling pound and sing dollar. From the date of that report to now the Pound has fallen by more than 10%!! and Sing dollar by about 6%!!

Still it is amazing the stock price is holding up well. The next quarterly report should provide a clearer picture.

With the stronger ringgit, the opportunities are really good.

Yes, PROLONGED should be the main concern. Short term the stock is holding up well, but any effect on the div to the downside could affect the stock price.

The interesting side of the ringgit's appreciation is the very strong buying position this counter has with it's large cash reserves.

Does anyone know in what way the ringgit will be affected if the YUAN is adjusted higher to the U.S. Dollar ?

Still staying out of this counter till the picture is clearer.

This post has been edited by calmwater: Apr 12 2010, 07:57 PM

So, in that case the Ringgit could be heading higher in the months ahead.

Before the asian financial crisis or currency crisis (1997&1998), the U.S. $ to MYR conversion rate used to be very steady at 1:2.5

With the U.S. dollar continuing to weaken there is still much up side possibility for the ringgit.