Unlikely free fall, technical rebound i think yes.

Buy rate 45% Sell rate is 55%.

Cheers,
v_viper88

Why our GLC always like to make aquisition at over-priced ? I still remember MMC bought Air Port in Johore. Now rumouring Zelan ? Don't forget MMC has very high ratio of debt.

Better stay out of MMC.

any idea on what would happen to zelan afternoon?

i will revise my target price to below RM0.65.

i will...

DJ future is up 34 pts.

Solutions for Citi in its way ???

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Added on November 24, 2008, 12:51 pmCitigroup, Fed Said to Weigh Plan to Limit Losses (Update2)
By Bradley Keoun, Alison Vekshin and Christine Harper



Nov. 23 (Bloomberg) -- Citigroup Inc. and U.S. regulators are in talks to limit the bank’s potential losses on more than $100 billion of toxic assets after the stock’s plunge last week sparked concerns about the company’s fate, four people familiar with the matter said.

The Federal Reserve and Treasury Department have been locked in discussions with Citigroup and other regulators throughout the weekend and a deal may be reached as soon as today, according to the people, who declined to be identified because the negotiations are confidential. The plan under consideration calls for the assets to remain at Citigroup, with the government agreeing to assume losses beyond a specified amount, two of the people said.

The holdings that may be guaranteed are a portion of the $400 billion pile of mortgages, bonds, auto loans and corporate loans that Chief Executive Officer Vikram Pandit pledged in May to shed within three years, the two people said. While the amount to be covered under the plan is under discussion, the talks are focused on about $100 billion to $200 billion of the assets, they said.

“If anybody’s too big to fail from the financial system’s point of view, it’s Citi,” said Brian Barish, president of Cambiar Investments LLC in Denver, which manages about $6 billion and doesn’t own Citigroup stock. “The government doesn’t need to be in this to make money. If they lose a few bucks on this, but save the system, it’ll be worth it.”

Share Decline

Citigroup lost 60 percent of its market value last week as investor confidence in the New York-based company’s prospects faltered after four consecutive quarterly losses. Unless the bank takes steps to halt the slide, the share-decline may rattle Citigroup’s customers, counterparties and employees, threatening the operations of the second-biggest U.S. bank by assets, according to a report by David Hendler, an analyst at CreditSights Inc. in New York.

“We sense that Citi’s board will also recognize the difficult chain of events which can be brought about by its low stock price, and prefer to take action,” Hendler wrote in the report yesterday.

Federal Reserve Board spokeswoman Michelle Smith and Citigroup spokesman Michael Hanretta declined to comment today. Citigroup Chief Financial Officer Gary Crittenden and Chief Risk Officer Brian Leach are leading the negotiations for the bank, one person familiar with the matter said.

‘Breathing Room’

The aid plan under consideration would give Citigroup “a little bit of breathing room, but long-term things may deteriorate” in areas of the company that wouldn’t be covered, said Peter Kovalski, a portfolio manager at Alpine Woods Capital Investors LLC in Purchase, New York, which manages $8 billion including Citigroup stock. “The Achilles’ heel with Citi also is their exposure to emerging markets and what’s going to happen when emerging markets turn down, as they’re doing now.”

Pandit, 51, told employees on a Nov. 21 conference call that he doesn’t plan to break up the company. He and Crittenden said they don’t expect to sell the Smith Barney brokerage unit, two people who listened to the call said at the time.

Citigroup’s board, led by Chairman Win Bischoff and independent director Richard Parsons, met the same day to discuss the bank’s options.

Citigroup issued a statement last week saying the company has “a very strong capital and liquidity position and a unique global franchise.”

Interventions

The proposal under consideration is a variation on a theme that has played out in government interventions during the past year, including JPMorgan Chase & Co.’s purchase of Bear Stearns Cos., Citigroup’s failed effort to buy Wachovia Corp. and the Swiss government’s rescue financing of UBS AG. In each case, the government required the bank to absorb initial losses and agreed to guarantee deficits beyond that amount.

JPMorgan took the first $1.15 billion of losses on a $30 billion portfolio of Bear Stearns’s devalued assets, with the Fed agreeing to finance the rest.

In September, Citigroup agreed to suffer the first $42 billion of losses on Wachovia’s loan porfolio, with the Federal Deposit Insurance Corp. taking the rest, in a deal that was canceled after Wells Fargo & Co. stepped in to buy Wachovia.

The Swiss government required UBS in October to inject 6 billion Swiss francs ($4.91 billion) into a special purpose vehicle backed with $54 billion of central bank loans to allow the bank to carve off about $60 billion of assets.

To help shore up Citigroup, the FDIC could provide loan-loss support or the U.S. Treasury could contribute money from the $700 billion Troubled Asset Relief Program passed by Congress in October, Hendler’s report said.

Credit Ratings

“The FDIC does not comment on open and operating institutions,” Andrew Gray, a spokesman for the agency, said in an e-mailed statement today.

Citigroup’s debt remains on review for downgrade by both Moody’s Investors Service and Standard & Poor’s. Moody’s rates Citigroup’s senior unsecured debt Aa3, while S&P has an AA- rating. A downgrade to A1 by Moody’s or to A+ by S&P is possible as the bank’s falling stock price could be deemed to hamper the company’s “financial flexibility,” the report said.

A single-A rating at the parent-company level should be manageable as long as the company’s banking subsidiaries maintain double-A ratings, CreditSights said. JPMorgan, now the biggest U.S. bank by assets, managed to endure with single-A ratings earlier in the decade, the report notes.

To contact the reporters on this story: Bradley Keoun in New York at bkeoun@bloomberg.net; Alison Vekshin in Washington at o avekshin@bloomberg.net; Christine Harper in New York at charper@bloomberg.net.

This post has been edited by SKY 1809: Nov 24 2008, 12:51 PM

What i read about zelan

1. Holding 10% of IJM share...Convert to asset per share for zelan will be roughly 60 sen per share at IJM current price

2. Nett current asset of 120 million

MMC' boss got some many companies under privatisation.

Do not know the money comes from where, loans from EPF ???

LOL.... I come back and found Zelan has dropped to +1 cent....

Gonna get some more this afternoon....

ur leveraging it down? or just want to get in some?

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Added on November 24, 2008, 1:21 pmis zelan consider one of the div counter? when will be the next div pay out?next year?

This post has been edited by mo_meng: Nov 24 2008, 01:21 PM

I'm buying for long term.....

Not too sure about the div......

what u guys think, zelan going up or down later today?

Not a good idea to buy construction stock for long term holding

i thought they pay div good too

Don know how you look at it... You want constant dividend? Check for zelan does it pay dividend every year? Or every five years

anyone doing any fishing today?

ZELAN
Second Interim 6.5¢
29-May-08 12-Jun-08 16-Jun-08 30-Jun-08 14¢
5¢


Interim 2.5¢ +Special 5.0¢ TE
27-Sep-07 24-Oct-07 26-Oct-07 15-Nov-07 7.5¢
7.5¢


Final 2.5¢ TE + 2.5¢
17-Jul-07 01-Aug-07 03-Aug-07 15-Aug-07 7.5¢
5¢

Hi All,

US Fed comes to the rescue. DJI will be super green tonight. I think Asian markets will recover a bit after lunch....


U.S. to Back $306 Billion in Citigroup Assets, Regulators Say

By Robert Schmidt

Nov. 23 (Bloomberg) -- The U.S. government agreed to protect $306 billion of loans and securities on Citigroup Inc.‘s books against losses, as it seeks to shore up investor confidence in the bank.

Citigroup will, as a fee for the guarantee, provide preferred shares to the Treasury and Federal Deposit Insurance Corp., the regulators said in a statement. The government will also inject $20 billion into the bank from the Treasury’s $700 billion Troubled Asset Relief Program.

“We will continue to use all of our resources to preserve the strength of our banking institutions and promote the process of repair and recovery and to manage risks,” the regulators said in the statement.

The Federal Reserve, the Treasury and other regulators have been negotiating with Citigroup throughout the weekend. Citigroup lost 60 percent of its market value last week as the company’s prospects faltered, rattling customers, counterparties and employees.


http://www.bloomberg.com/apps/news?pid=206...hn5I&refer=home

double post

Citi,

Is it stone or gold ???

This post has been edited by SKY 1809: Nov 24 2008, 01:44 PM

no news is good news, good news is better news ^^

It seems the US made a wise choice in electing Obama, I like the way that he's actively addressing the economic issue. Keeping the people updated on his plans to reassure people and businesses on what he wants to do, and how it'll help in the recovery process. At least he's removing some uncertainty from the market.

This post has been edited by eltaria: Nov 24 2008, 01:45 PM