Start of the huge stimulus age...

From V20
http://forum.lowyat.net/topic/905498/+2520

This post has been edited by cherroy: Feb 14 2009, 03:43 PM

Hehe... because V20 closed mah... then I mah just respond opening V21 loh

This quarter's quarterly result generally still not out, slow compare to last few quarter... why?

Don't think they will declare dividend like that this year...

KLK 1Q result out, EPS drop to 6 sen from 27 sen. Cash generation capability remain very strong.

Carlsberg 4Q result out, EPS halved from 8 sen to 3+ sen. Final dividend 7.5 sen.
Esso loss big on inventory write down.

This post has been edited by htt: Feb 18 2009, 06:13 PM

No Special dividend, but initiated stock buy back scheme.
Batu Kawan 1Q profit one third compared to last year.

The cash not enough to pay the short term liabilities leh, and cash raised mainly from increasing liabilities, and guess 100+m already sink back to the loan when they take out new debt from Maybank, also new debt raised from Maybank is 3 year term loan, 1/3 due in the year and the rest phase in coming 2 years. Also they break the goodwill into goodwill + intangible asset (and amount grow 200+), and... I kind of doomsayer... please don't kill me...

They claim raw material cost too high, something like RMB12xx while finished goods at RMB15xx (I don't think 1 ton of raw material can end up with 1 ton of finished good, then obviously the more you produce, the more you loss), but I wonder why they keep producing at almost full speed when producing at loss, weird logic...

Haha... but I think for their case selling price not even can cover material cost, then I rather let the plant idle than run...

Sometime there is another scenario where the customer e.g. steel plant is own by the same group (or related) of people, then minority shareholder of the supplier e.g. Huaan might suffer without even knowing that...
But 4Q is over, now have to look forward for 1Q'09 liao, if they continue performance of 4Q, then better dump them while you can...

Maybank 9 for 20 right issue...

Maybank going to issue right issue of 9 share per 20 share held currently.
The price is going to be around 40% discount from average price.
Aim to raise RM6b to boost up capital base.
No interim dividend announced.
No impairment of BII & MCB, will do it at FY end (if need to, but I can't see why it need not ).
Dividend policy no change.

Maybank operating result inline with most of the bank at the moment. Provision up as current economy trend and expect worse to come (hopefully won't repeat another 97/98). Company tends to preserve cash at the moment, so dividend won't be very good (and most likely only final dividend to be looking forward to).

I think the price should be in range of RM2.70~RM3.30.
The par value will remain the same (they have no problem paying RM1 par value with even RM2.70 ).
Existing shareholders' shareholding won't be diluted if they subscribe to the right.

If you have ordinary share and don't want to subscribe, I might want to take your share... haha... they issue in discount so people cannot say don't want to buy (subscribe mean no win no loss, not subscribe loss immediately).

if issue at RM2.70 => RM1 went to share capital (par value) & RM1.70 went to share premium. Then where got affect par value?

Kind of. The market capital will be increase normally.
And like skid said, always subscribe excess, especially if you got odd lot from the issue (e.g. if you have 1,000 ordinary share, entitled for 450 right issue, but high chances you will get at least another 50 share if you apply for excess), priority will be given to those who want to round up to a full lot.

Aiya, unwinding fuel and interest swap position mah, think this should be the last for a while, else result should be approx. 200+m black. The operation showing sign of recovery, even indo & thai operation also turn black.
Cannot just see the figure and judge lah, bro

Still too early to call for tomorrow...