NST Saturday, March 21, 2009, 03.16 PM

TMI gains most in more than a month

TM International Bhd, Malaysia’s biggest publicly-traded mobile-phone operator, climbed the most in more than a month in Kuala Lumpur trading after analysts said recent declines were excessive.

TMI gained 4.9 per cent to RM2.35 at midday close on the Malaysian stock exchange, the biggest increase since Feb. 6. The benchmark Kuala Lumpur Composite Index fell 0.1 per cent.

“The stock is recovering after falling so much since the rights issue announcement,” said Ikmal Hafizi Zulkifli, an analyst at TA Securities Holdings Bhd. in Kuala Lumpur. “People are speculating on an ex-rights price of around RM2.90 so the stock” started looking attractive when it fell below that level, he said.

OSK Research Sdn late yesterday upgraded its recommendation on TMI to “trading buy” from “neutral,” saying the 27 per cent drop in the share price since Feb 26 when the company announced its RM5.25 billion (US$1.4 billion) rights offer, suggests it has “already bottomed for now.”

TMI will fix its rights price on March 27, according to the share sale terms sent to clients by the arrangers and obtained by Bloomberg. New shares will be on sale from April 15 to April 29, the document showed.

The company, about 45 per cent owned by the government’s state investment agency Khazanah Nasional Bhd, will use the proceeds to repay the RM4 billion of debt owed to its former parent, Telekom Malaysia Bhd. It will also spend about US$2 billion to refinance loans taken for an investment in a mobile-phone operator in India last year.

“In theory, there is limited scope for TMI’s share price to decline further since it would be value destructive for management given the prospects of significantly higher dilution for minorities,” Jeffrey Tan, an analyst at OSK, wrote in the report. - Bloomberg

Its worth a try seeing how TMI has been most active traded for past 2 days. No gain without risk

TMI's Rights Issue share has been priced at a discount of 57.1% to yesterday's closing price. so what now? any sifu to comment..

will there be any transaction fee for the Right Issue??

Do you mean letter of Right Issue? I haven't got mine too, anybody got it yet??

Mayban Nominees gave me a call on Friday regarding the Rights. when told them i want to fully subscribe, all i have to do is to have enough cash in my account by latest 22 april.

Axiata May Rise; Eyes AKTEL Listing, Assets Sale

0033 GMT [Dow Jones] Axiata Group (6888.KU) may rise to around MYR1.90 from Friday's close at MYR1.83 (+1.1%), traders tip; Malaysian Reserve reports mobile phone operator may consider listing its 70%-owned Bangladesh unit, AKTEL, in 2010. "We will still look at it. It will happen in the next year or two," Axiata's Chief Executive Jamaludin Ibrahim says according to report. Jamaludin adds company open to divesting its non-core assets. "There are two issues here which may pique the interest of investors. In the immediate term, I think asset disposal may be on the cards and this should help buffer the company's balance sheet. The second issue is the potential listing of AKTEL which will help Axiata realize some value in its investment. This may be more attractive for long-term investors," says institutional dealer. (VGB)

so fast?? this stock got potential worr

anybody here can give TP of this stock?? any FA expert
now that already profit, what price to sell before correction coming

if this stock can go up to RM5.00, a Vios is waiting

Actually made a bad call initially. went in before the RI announcement, was force to buy the RI as thought gone to holland liao. now average 1.84 per share

what a waste you sold early.. are you still holding some?? as my Rights issue also not converted to my account yet.

price will drop when people take profit. Axiata already made with our money, its like getting 2weeks interest free loan when it lock our money.

Axiata took so long to convert the Rights to tradable shares. If could have sold those shares at high of 2.42, lots of good counters to go in now.

which to buy tomorrow? Axiata or TM? once commited into TM, need to have sleepless night till ex-date woh

cannot be that easy money one, after paying divident sure price crash. Dunno what is the true value of TM now, somemore if ngam ngam kena d anticipated correction

CONGRATULATIONS to those who make money from buying Axiata yesterday

cleared all axiata @ 2.42 in the afternoon.. damnit naik 2.48 pulak

yaloh, this counter if klse red only jatuh giler2.. just 2 days ago can jatuh to 2.10

The point is this counter easy up easy down, if got chance better take profit and wait for next drop.