Asian ikan merah for sale, any takers!!

KUALA LUMPUR: The 1Malaysia email project, which has drawn public outcry when it was announced in April, is in service.

The project was launched via Facebook last Wednesday, according to Performance Management and Delivery Unit (Pemandu) director of communications content and infrastructure, business services National Key Economic Area (NKEA), Dr Fadhlullah Suhaimi Abdul Malek.

It already has 3,050 subscriber signed up for the free email service.

This project is perceived to be the lifesaver for ACE Market-listed Tricubes Bhd, which has been categorised as Guidance Note 3 (GN3) and is due to submit its regularisation plan by the end of next month.

In its regular update to Bursa Malaysia, the IT-based company said it is currently reviewing “various options to meet its obligations under GN3 with its sponsor and targets to submit its regularisation plan by the submission deadline.

According to Fadhlullah, the project has been delayed because Tricubes has worked in parallel to provide “value-added services”. He disclosed that people who subscribed to the email service would also have a means of utilising their value-added services such as bill payments.

“Tricubes has assured me that it will be holding a media session sometime in late September,” Fadhlullah told The Edge Financial Daily, saying that he had been briefed on the progress of the project last week.

“They are moving not as fast as one would want them to, but they are moving. And every single ringgit put into this project is their own money,” he stressed.

To recap, Prime Minister Datuk Seri Najib Razak announced that Tricubes was awarded the 1Malaysia email project in April. The project has been labelled as being under the purview of the Economic Transformation Programme (ETP). The email project could generate a gross national income of RM39 million by 2015 by Tricubes’ RM50 million investment over the next 10 years.

Tricubes CEO Khairun Zainal Mokhtar earlier said the 1Malaysia email project was a “lifeline” thrown to the company. The project will be the core part of Tricubes’ regularisation plan.

The company has targeted about 5.4 million subscribers by year-end. The government has set a KPI (key performance indicator) of a 50% take-up rate for those above 18 years old by 2012 and 100% by 2015.

The 1Malaysia email address will then be the digital channel for the government-linked organisations to communicate with the public.

There are no charges for the public to open an email account. The proposed business model is to charge the government bodies that want to send their correspondence to the 1Malaysia email addresses. The charges are up to 50 sen every mail being sent.

However, Khairun did not respond to The Edge Financial Daily’s enquires on the updates on the company’s regularisation plan and which government-linked organisations that Tricubes is currently in talks with for the deployment of its email service.

Dr Fadhlullah said the unique selling proposition here, which seems to have been overlooked by all the local pundits, is that the myemail will have a validated database. “When you use one of the free email services such as Gmail or Yahoo, there is no way of knowing that you are who you say you are. With this service, you have been verified. And what’s more, it’s still free.”

Commenting on the controversy that has surrounded this project since it was launched, Fadhlullah said it is up to Tricubes to do a better job in clarifying the situation.

“I told him (Khairun) that now it’s up on Facebook, he has to be ready for people commenting on it, and needs to respond as quickly as possible. We said, don’t wait till the end of the day because negativity could have built up by then.”

Tricubes’ 70%-owned unit TricubesNCR JV Sdn Bhd has recently bagged a one-year RM4.4 million contract from the Ministry of Home Affairs in relation to a project for the Malaysian police.

The company expects the contract to start contributing in FY12 ending March 31.

Tricubes incurred a net loss of RM1.19 million or 0.89 sen per share for 1QFY12 ended June 30 compared with RM485,000 or 0.34 loss per share in the previous corresponding period.

Malaysian Ringgit down is good news....cheaper for foreigners to buy Malaysian stocks.



Ringgit down on Europe debt crisis impact fears

By CHOONG EN HAN

PETALING JAYA: The ringgit slumped to its lowest range against the US dollar this year, as a combination of external headwinds in the eurozone and the United States continue to weigh in on Asian currencies across the board.

The ringgit weakened 1.09% to 3.1157 against the US dollar from 3.0820 last Friday as investors fled emerging markets on fears that the contagion risk of Europe's sovereign debt crisis might slow global economic growth and hurt the economies of export-based developing countries. The local unit had lost 1.98% of its value from a week ago.

Regional currencies were broadly lower with the rupiah leading the pack, with a 1.02% decline. Similarly, it was 2.58% higher a week ago.

Hong Kong-based Societe Generale fixed-income strategist Chong Wee-Khoon said Asian currencies continued their weakening move against the US dollar yesterday on concerns over global uncertainty and capital flights out of Asia.

“The weakening move started last week when the contagion fears finally spread to the Asia foreign exchange and local bonds market. Previously, the equity outflows seen in Asian had been recycled back into Asia bonds and foreign exchange. Such move (weak Asia foreign exchange) might continue as long as global uncertainty persist,” he said.

All eyes would be on the next Federal Open Market Committee (FOMC) meeting later this week, he said, adding that the near-term outlook was bearish for Asian currencies.

The two-day extraordinary FOMC meeting would be the most important event of the week as the Fed decides on the direction of the US monetary policy amid a staggering global economy that is slowly moving into stagnation.

“The ringgit has moved from 2.96 in early September, broken 200-day moving average at 3.03 and spiked to 3.11 in the last two weeks. The risk is for the ringgit to test previous highs of 3.16. Longer term, we like the ringgit on domestic fundamentals, but it is hard to fight the near-term upside move driven by lack of market confidence rather than a deterioration of Asian economies,” Chong said.

However, he said, the contagion had started a while ago in the equity markets but the local bond market had been relatively immune as investors sought yield enhancement and also the benefit of currency appreciation.

“With uncertainty accelerated in recent weeks, the markets have taken profit for fear to be the last one out,” he said.

According to Chong, the five-year MGS yield on Friday had gone from 3.19% to 3.48% in one week, and the spread between the five-year MGS and US Treasuries was now at 260 basis points (MGS 260bp higher) and it was the highest since March 2009 (317bp recorded).

He said there had been a sell-down in the Indonesia and Thai bond markets as well.

CIMB currency strategist Suresh Kumar Ramanathan said the external factors had stepped up the global risk aversion and the moves of central banks closely mirrored what had happened back in 2008.

“In the past two weeks, the markets still believed that there was still growth in the emerging markets. However, things have not been improving and external headwinds are eroding confidence,” he said.

He said the concern was still on mature developed money markets where their central banks were closer to easing monetary policy to boost liquidity, and the next action of easing rates.

Meanwhile, Tan Chee Wee, head of fixed-income research at Maybank Investment Bank Bhd, said there had been three days of sell-off in the bond market last week.

“I would say it is more of profit taking rather than economic worries as there have been three months of rally and the yield is already looking flat,” he said, adding that the sell-off was more towards domestic players relinquishing their positions, and while there were foreign players selling, there were also foreign players buying.

BSKL may go to the green zone in the late afternoon.

Green green fields home coming

Just watch the show

Activity had just begin.

Despite market being bad, Smartag maintain it's original position....tomorrow we see some improvement in it's pricing perhaps.


Today support at 27.5 cent is good......sharks perhaps in early action?

Dr. Mamak Mahathir is the sole culprit for the problems face by Tenaga now....why?...force Tenaga to sign a lop-sided agreement with the IPPs.

OMG....what will they think next..........Mohamad, widely known as Mat Sabu, faces a charge under Section 505 of the Penal Code for making a statement liable to lead to public mischief.


http://www.freemalaysiakini.com/?p=11161



and this...OMG , not again.


http://www.freemalaysiakini.com/?p=11163

This post has been edited by monkeyking: Sep 20 2011, 06:22 PM

My friends, time for you all today to get some Malta. ......a sidekick of Guinness, good and full of energy.....watch out for it today. Incidently I am going for my 6th round profit.




This post has been edited by monkeyking: Sep 21 2011, 02:39 AM

Brother danmooncake, Red Bull not too good, too much chemicals is bad for health.......why not try some green vegetables instead , always fresh & green. .....always good for your health, both physically & psychologically too......yummy too.



...... take your pick here please

Today DJ up a few miserable points.... Dow Jones Industrial Average 11,408.66 4:02PM EDT Up 7.65 (0.07%)



...but then anything can happen we all know that Malaysia Boleh.....hope that today morning will be a Positive Boleh.



Cheers brother skiddtrader, all the best to you today.

Japan & Korea open in GREEN.......hopefully ikut sama sama juga.

Bursa Malaysia Bhd


Target: RM7.50



Earnings forecasts and target price cut. We lower our FY11-13 net earnings forecasts by 16-22% following a reduction of 17-23% in our projected average daily trading values (from RM1.7-2.1bn to RM1.4-1.6bn). Our valuations are

rolled over to 2012 but our target P/E is cut from 33x (based on 10% premium over the 5-year average) to 25.5x (15% discount) in view of the more cautious market sentiment. As a result, the target price falls from RM11.60 to

RM7.50.



Downgrading Bursa to a Neutral

The more cautious market sentiment… Market sentiment has turned cautious amid
fears of a double-dip recession in the United States and a deepening of Europe’s
sovereign debt crisis. The KLCI has fallen 8.4% over the past two months. We also
lowered our end-2011 KLCI target to 1,580 from 1,700 previously. The lower KLCI
target and a possible drop in the trading value do not bode well for Bursa’s earnings.
…leads to a lower rating. In light of the weaker market sentiment, we downgrade our
rating on Bursa Malaysia from a Trading Buy to NEUTRAL. The three key reasons
behind the downgrade – namely (1) lower KLCI targets, (2) dwindling trading value and
(3) contraction in P/E multiples – are discussed in greater detail below.


Why the downgrade?

Reason No 1: Lower KLCI targets
A cut in KLCI targets. On 5 Sep 11, we lowered our year-end KLCI target to 1,580pts
from 1,700pts mainly due to a cut in FY11-12 EPS numbers and a reduction in the 3-
year moving average P/E from 14.5x to 14.1x, which is also the target P/E for the index.
We also introduced our end-2012 KLCI target of 1,660pts, which is lower than our
earlier end-2011 target of 1,700pts. The downgrade in the target puts a lower cap on
the upside potential for the KLCI and has negative implications on the trading value for
the market, and ultimately the earnings of Bursa Malaysia.

Technically…

– Bandar Raya Developments (BRD MK; RM2.24, Sell) – Violated its triangle support.

– Scomi Group (SGB MK; RM0.29, Buy) – A short term bottom may have formed.

– Benalec Holdings (BHB MK; RM1.06, Sell) – Downtrend does not look complete yet.

Not too bad for Bursa , only -0.03 points...maybe will pick up towards green later.

Market up but people cautious...seem everyone queuing to sell..