KLCI expected to move in tight range next week

KUALA LUMPUR (April 17): Bursa Malaysia is expected to continue its current momentum into next week, with the key index to move in a tight range amid cautious market sentiment.

Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said the FTSE Bursa Malaysia KLCI (FBM KLCI) would likely move between 1,600 and 1,615 points next week.

“(The tight range expectation is because) investors would seek to find a balance between the nation's vaccination progress with the recent uptick in COVID-19 cases, which is signalling a fourth wave,” he told Bernama.

On the external front, Adam said there would not be many major events next week except for the upcoming European central bank meeting on April 22 which would likely provide guidance on its bond purchasing, moving forward.

He also reckoned that many countries namely Japan, Canada, the United Kingdom and also Malaysia would be releasing their consumer price index data next week.

“Malaysia is likely to record a stronger year-on-year (YoY) growth in March compared to the 0.1 per cent YoY growth in February, amid a low base effect, mainly due to the movement control order in March last year,” he said.

For the week just ended, the local bourse started on a weak note largely due to profit taking in telecommunications giants, Axiata and Digi, whereby the stocks were heavily traded a week earlier on possible merger news.

The momentum continued on Tuesday with FBM KLCI settling below its 1,600 psychological level due to selling by foreign investors amid weak market sentiment brought about by the extension of the Conditional Movement Control Order and Recovery Movement Control Order in several states.

Bursa, however, rebounded the next day onwards thanks to strong gains in rubber glove counters as buying interest resurfaced with COVID-19 infections in the country continuing to show an uptrend.

On a Friday-to-Friday basis, the benchmark FBM KLCI decreased marginally by 3.87 points to 1,608.38 from 1,612.25 registered last Friday.

On the index board, FBM Emas was 48.14 points easier at 11,850.78, FBMT 100 decreased 42.99 points to 11,503.57, FBM 70 fell 117.8 points to 15,669.179, FBM ACE dropped 1,398.19 points to 8,597.35, and FBM Emas Shariah shed 5.72 points to 13,275.44 .

Sector-wise, the Plantation Index reduced 103.58 points to 6,880.05; Financial Services Index went down 138.67 points to 15,075.16; Technology Index slipped 0.13 of-a-point to 87.52; and Telecommunication and Media index contracted 21.46 points to 726.26.

The Healthcare Index, however, rose 121.77 points to 3,171.12, the Industrial Products and Services Index added 3.27 points to 196.83, and the Energy Index gained 2.57 points to 922.67.

Turnover decreased to 31.31 billion units worth RM18.53 billion from 34.59 billion units worth RM18.68 billion in the previous week.

Main Market volume slipped to 18.76 billion shares worth RM14.47 billion from 19.89 billion shares worth RM15.34 billion last week.

Warrants volume improved to 2.0 billion units worth RM272.89 million from 1.74 million units worth RM231.26 million previously.

The ACE Market volume shrank to 10.54 billion shares worth RM3.79 billion from 12.94 billion shares worth RM3.11 billion the week earlier.

https://www.theedgemarkets.com/article/klci...range-next-week

Press metal aluminium holdings bhd share price drop 50% today. Firesale?

Ohh, thank you for the answer

Thank you for sharing.

A bit nervous with Press Metal stock price, due to:

1. High PE Ratio - 97.1
2. ROE less than 15%

https://www.fsmone.com.my/stocks/tools/stoc...KLSE&stock=8869

This post has been edited by izzudrecoba: Apr 20 2021, 04:05 PM

Top Glove brings value and health to new heights



SHAH ALAM: Top Glove Corp Bhd, Malaysia’s largest rubber glove maker, has not sat idly by in a time when the company has been making huge strides in profit and influence during the Covid-19 pandemic.

Founder and executive chairman Tan Sri Lim Wee Chai says creating value for the public and shareholders have been of paramount importance to the healthcare giant, where he has translated good fortune into the benefit of others.

Top Glove is on a hiring spree where it intends to employ 9,000 people. Of that total, 2,000 are interns, 2,500 are graduates and 4,500 are those with TVET qualifications. Up to March 2021, Top Glove has hired a total of 4,270 people from the various categories of employees it has targeted.

In 2020, Top Glove recruited 6,599 workers and 3,479 in 2019.

Lim, who is a strong advocate of education, is a strong supporter of Tzu Chi, a Buddhist charitable organisation that has millions of followers worldwide, including Malaysia.


Star Media Group Bhd's Group CEO Alex Yeow Wai Siaw (left) meeting with Executive Chairman and Founder of Top Glove Corporation Bhd,Tan Sri Dr Lim Wee Chai at Top Glove in Shah Alam on April 20, 2021 — AZHAR MAHFOF/The Star

“We are learning everyday and we are also teachers. We learn and add value and in order to do that, we must stay healthy. Health is our foundation, ” he tells Yeow during his visit to the headquarters of Top Glove here.

Lim is famous for his strong penchant for healthy living. Outspoken in his desire to lead a healthy lifestyle, he is an advocate in practising what he calls the balance of three healths: physical, mental and financial.

Lim says he started yoga six years ago and regularly engages in yoga practice today. Apart from that, Lim also plays badminton twice a week to keep his body and mind in peak shape.

“The message to youngsters is that it is never too late, ” says Yeow. “If you are determined then you can accomplish what you want.”

It is also the financial health of Top Glove that has been pleasing for Lim, where since its listing on Bursa Malaysia 20 years ago, the company has grown 250 times, which itself is a phenomenal windfall for all shareholders.

The mammoth gains seen in returns and profit had now pushed Lim onwards to greater targets, where he now wants Top Glove to be among the Fortune 500 companies in the world.

Yeow also acknowledged that desire by Lim: “Many years ago Tan Sri had set a Malaysian vision for Top Glove to become a Fortune 500 company.”

“Our target to do that is by 2030 and we need to grow 10 times. In 20 years since our initial public offering, our company has grown about 250 times. This is one of the best performances by any stock on Bursa Malaysia, ” Lim says.

Achieving such huge value has also pleased shareholders, and due to the success of what Top Glove has achieved, there are now almost 130,000 shareholders in the company.

The company estimates it has 120,000 shareholders in Malaysia and a further 8,000 in Singapore. Top Glove shares are also listed in Singapore.

“We created a lot of value for the public, ” he says, adding that the total number of shareholders may be more than what the largest listed company in Malaysia, Malayan Banking Bhd, has.

The rubber glove giant is, however, not stopping there.

Yeow brings up the point of Top Glove’s desire to list Top Glove’s shares in Hong Kong.

“What is the underlying reason to do that, ” asks Yeow.

Lim says the market capitalisation of companies in Hong Kong is 15 times that of Bursa Malaysia and 10 times that of Singapore, countries where Top Glove shares are currently traded. The trading volume in Hong Kong is about 20 times that of Bursa Malaysia and Singapore.

“It is about creating value for the public. The market in Hong Kong has a better image, for business contacts and also for M&A, ” he says. “We are exporting to 195 countries.”

Given the growth experienced by Top Glove, the group intends to invest RM2bil a year to build about eight factories. The investment will see money poured in building, machinery, production lines, research and development, automation and digitalisation.

“It is a priority, ” says Lim.

https://www.thestar.com.my/business/busines...-to-new-heights

Alamak

Buy on dip?

Supermax

A look at Fair Value of Supermax

Warren Buffett Is Selling Out Of His Stocks & The Reasons Behind It Are Scary

I'm mirroring the top two syariah equity fund's top 3 holdings:

Interpac Dana Safi
1. Unisem
2. D&O
3. Greatech

BIMB i Growth
1. D&O
2. Unisem
3. MPI

Wow. Why -7% drop today?

Thanks bro. Bought some lots at 2.53

Good time to buy on dip ke?

UWC, Greatech, and D&O drop

Awesome bro. Unlucky for me at the moment. Bought UWC at 6.43 now at 5.98

Thanks bro for the encouragement

Yesterday upon seeing the drop of technology stocks (UWC, Greatech, D&O), at 5pm I throw tantrum inside a car. I'm just a human

Drop further to 2.49 now

Roger that. Still learning in this universe. Thanks bro.

Globetronics Technology - Opportunity to buy on weakness

Investment Highlights
We upgrade our recommendation on Globetronics Technology (Globetronics) to BUY from HOLD after the recent decline in its share price. We maintain our forecasts and fair value of RM2.84/share, pegged to an FY22F PE of 24x. We have also ascribed a 3-star ESG rating to the company (Exhibit 3).
Via our channel checks, we believe that the key sensor customer’s qualification programmes for the next generation of light and gesture sensors have not been halted and mass production is still set for June 2021 and July 2021 respectively as planned.

We do note that forecasts could change in the case of any changes in end-customer demand, but we believe that demand for its end-customer’s products would remain strong despite potential supply chain issues relating to the global chip shortage.

Establishment of cloud-based platform for Industry 4.0 integration: The group will spend RM50.2mil over three years to establish a cloud-based platform, incorporating Industry 4.0 (IR4.0) applications such as artificial intelligence, big data, and augmented and virtual reality to its operations. The platform would enable GTB to reach higher levels of customization, shorter production times and improve product quality.

According to theedgemarkets.com, the platform will prepare for the next-generation semiconductor wafer-level packaging technology, including the 2.5D, where the stacking of dies will be replaced by flip-chip on a silicon interposer.

We keep our FY21F capex assumptions unchanged and note that the pilot lines would be subject to customers’ qualification.
Following the decline in share price, we believe GTB is undervalued and that investors should take advantage of this correction to accumulate the stock.

GTB’s positive prospects arise from: (i) its strength in smart sensors with new generation sensor demand expected to drive growth ahead; (ii) ramp-up in laser automotive headlamps to boost LED/SSD segment; and (iii) potential opportunities to be secured from the US-China trade war that could lead to customer diversification and revenue enhancement.

Source: AmInvest Research - 22 Apr 2021
https://klse.i3investor.com/servlets/ptres/59328.jsp

EPF (Jerung) keep accumulating millions of CMSB stocks for the past days. Something big about to happen in Sarawak?

https://klse.i3investor.com/servlets/stk/2852.jsp