Their 1/3 is RM 6 digit so is fine

strike gold liao lah..

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Added on November 19, 2010, 12:47 pmeh..how come my portfolio sinking at lunch geh.. starting to see white and red liao

This post has been edited by teehk_tee: Nov 19 2010, 12:47 PM

Ya lor, the most active stock page now seems to be balance back, maybe all Muslim pull out capital and go sembahyang?

ooo .thats good .

lol! tarak kaitan lah why would someone pull out their money over lunchtime just to put it back after lunch? no money to eat lunch kah lololol

For P&O holders...


KUALA LUMPUR: Pacific & Orient Bhd’s (P&O) insurance business is believed to still be on the radar of other foreign parties despite Prudential Holdings Ltd dropping out of the acquisition talks for the local general insurer.

“One of the interested parties eyeing the insurance business of P&O is an insurer from the North Asian region. They are exploring the possibility of acquiring the business... The insurer is studying the company [P&O] and should they decide to go ahead with the buy, they will write to Bank Negara Malaysia for approval to start formal negotiations,” said a source familiar with the matter.

The source added that one of the reasons the talks between P&O and Prudential fell through was because both parties could not agree on the pricing.

“It is understood that the asking price for P&O’s insurance business is somewhere along the region of two times price-to-book ratio… that is using the latest local general insurer transaction — Jerneh [Insurance Bhd] — as a benchmark,” the source noted.

The book value of P&O’s insurance business stood at RM160 million in July.

When contacted on the matter, P&O’s managing director and CEO Chan Thye Seng declined to comment.

P&O was one of the top 10 losers yesterday, with its stock dropping 11% to end at 91 sen following news last Friday that Prudential had ended talks with the local insurer.

From its 52-week closing low of 50 sen last November, the stock hit its 52-week closing high of RM1.24 on Aug 12.

Apart from the latest set-back, P&O’s share price may have also come under pressure due to a potential share overhang from its recently completed private placement exercise. The company had undertaken a 10% private placement exercise of 5.25 million shares at 99 sen per share. The shares were listed on Oct 20.

Following the exercise, P&O’s share base increased to 236.34 million shares. At 91 sen, the company has a market capitalisation of RM215.07 million. Its net assets per share stood at 72 sen on June 30.

Two months ago in September, Jerneh announced that US insurer ACE would be paying RM654 million for the local insurer’s business, in the process setting a new benchmark in the valuation of local insurers. The valuation of 2.24 times price-to-book based on the Jerneh’s shareholders’ fund of RM291.29 million is the biggest general insurer deal publicly announced to date, after the recent financial crisis.

Some industry insiders believe that Jerneh’s deal sets the benchmark for the industry rather than the deal struck in June by Tan Sri Quek Leng Chan’s Hong Leong Group. Mitsui Sumitomo Insurance Co Ltd took a 30% stake in Hong Leong Assurance at 6.5 times price-to-book ratio based on a merged valuation of both the life and general insurance businesses.

Smaller general insurers have appeared on the radar screens of the bigger organisations this year as the industry continues to consolidate.

“The bigger players – mainly foreign owned ones – are looking actively at potential acquisitions. This is to help out with the consolidation of the industry as encouraged by BNM as well as to grow at the same time,” noted a senior officer at a local insurance company.

In April last year, BNM liberalised the insurance sector and announced that, to further strengthen the resilience and competitiveness of the insurance and takaful industry, insurance companies and takaful operators had been given greater flexibility to tie up with foreign partners. Accordingly, the foreign equity participation in insurance companies and takaful operators was increased to a limit of up to 70%. Interestingly, BNM added that a higher foreign-equity limit beyond 70% for insurance companies would be considered on a case-by-case basis for players who can facilitate consolidation and rationalisation of the insurance industry.

This year alone, there has been two major equity deals involving foreign insurers with listed companies that have local general insurance businesses. The two deals aside, PacificMas Bhd is currently working on the disposal of its insurance business to Canadian insurer Fairfax Asia Ltd. On Sept 3, PacificMas submitted an application to BNM for the approval to enter into a definitive shares sale agreement with Fairfax. The outcome of the approval is still pending.


This article appeared in The Edge Financial Daily, November 16, 2010.

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Added on November 19, 2010, 12:59 pmcan't do much...still hold...
this month gotta wait for all qtr reports out...hope for my (good) counters to catch up...


This post has been edited by yok70: Nov 19 2010, 12:59 PM

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China is expected to raise interest rate after lunch...
anyway i dun buy the red ... when they announce something before they do it... we should act opposite..

sharks always give surprises and catch ppl off guard.
This is not like them at all, telling u "hey, we're gonna raise rates.. and we're selling now, plz run, ok ?"

So this is the reason...


The Hang Seng Index tumbled 1.4% to 23,306.39 and the Shanghai Composite Index fell 1.1% to 2,833.98 following a media report that Hong Kong's government was expected to unveil further measures to cool its red-hot real estate market

http://www.theedgemalaysia.com/business-ne...ets-tumble.html

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Added on November 19, 2010, 1:17 pmexactly.


This post has been edited by yok70: Nov 19 2010, 01:17 PM

dear all forumer ?

what are u waiting for the allied irish bank (AIB) at US exchanged.

20% increased since the worst time that i have hedged in at US market and still awaiting anohter lift up though after the big loan is released to the Irish government from their neighbour (UK) and EU member.

I have IRE, which up by whooping 33% + 72c. Chasing AIB 2 days back at 1.05 - didn't hit target

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Added on November 19, 2010, 2:28 pmfuxking annoying Samsung Galaxy Advert on top!!

This post has been edited by zamans98: Nov 19 2010, 02:28 PM

Has HSI stopped trading? The yahoo finance update stops.

yah... it's annoying... i hate ads that expand and block the screen... "

they start 2.30pm after eating abalone, sharks fin etc... and there's a 10mins delay @ yahoo finance

huh, they are too scared to update

2,882.70
+17.25 (0.60%)

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Added on November 19, 2010, 2:51 pmShanghai 2878.68 13.23 0.46% 14:44
Shenzhen comp 12127.22 -18.93 -0.16% 14:30
Hong Kong 23590.92 -46.47 -0.20% 14:49

This post has been edited by zamans98: Nov 19 2010, 02:51 PM

SSE and HSI suddenly moves back up...just a funny game hosted by fund managers?

CI will follow the step... haha

something fishy going on with sunway and suncity...

i spotted that too.

sunway purchase 100% sunway singapore construction...

me hold only kulim and kfc.. miss the qsr..

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Added on November 19, 2010, 3:03 pmall teh fund manager.. sudah cuti play golf and holiday with family.. friday is not trading day to fund manager life.

This post has been edited by masterjedi: Nov 19 2010, 03:03 PM

Some of my counters turn yellow................does not see the "big" effect of DJ surge 1xx points