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拿督刘利康，丹斯里张晓卿，丹斯里林昌和

三位砂拉越华商所涉及的业务也雷同，除了木叶，油棕，建筑等，他们都涉及媒体业。

拿督刘利康为首的刘氏家族
BLD种植（BLDPLNT）
启德行集团：
<<诗华日报>>
<<新华日报>>
<<东方日报>>
<<资汇>>
<<The Borneo Post>>
<<The Sunday Post>>
<<Utusan Borneo>>

丹斯里张晓卿
常青油棕（RSAWIT）
常青集团
世界华文媒体（Mediac)
<<星洲日报>>
<<南洋商报>>
<<中国报>>
<<光明日报>>
<<明报>>（香港）
<<亚洲周刊>>
<<亚洲眼>>

丹斯里林昌和为首的林氏家族
砂拉越油棕（SOP）
<<联合日报>>

IGB planning two more REITs?

IGB Corp Bhd is said to be mulling over another two real estate investment trusts (REITs) to unlock the value of its office and hotel assets after the company announced plans last week to establish and list a retail REIT on Bursa Malaysia.

An analyst with a bank-backed brokerage said IGB's management was looking at the possibility of launching an office REIT after the debut of its retail REIT, to be followed by a hotel REIT after that.

“Such plans would crystallise the deeply embedded value of its office and hotel assets,” he told StarBiz.

The listing of IGB's maiden REIT, the retail REIT, around the third or fourth quarter of this year is to unlock the value of its two prime retail assets Mid Valley Megamall and The Gardens Mall.

Both the malls are currently parked under IGB's 75%-owned unit, KrisAssets Holdings Bhd.

Mid Valley Megamall has a net lettable area (NLA) of 1.77 million sq ft and The Gardens has 820,000 sq ft. The two retail assets have an estimated total asset value of close to RM4bil.

In the hospitality sector, IGB owns 16 hotel assets in Malaysia and seven overseas. It is also said to be building two new hotels in Penang.

As for its office portfolio, IGB owns seven office buildings with total NLA of 2.2 million sq ft. Of its office portfolio, five are in Mid Valley City in Kuala Lumpur where its two retail malls are also located.

The buildings are Menara IGB with NLA of 251,751 sq ft; Centrepoint South (233,804 sq ft); Centrepoint North (231,115 sq ft); Gardens North Tower (426,870 sq ft); and Gardens South Tower (408,314 sq ft).

The other two buildings in the city are Menara Tan & Tan with NLA of 340,596 sq ft and Plaza Permata with 190,511 sq ft.

The analyst said Mid Valley City's office market remained strong, in-line with the strong demand for suburban office space.

“The strong rental demand could be attributed to the rising maturity of the area, easy accessibility as well as the appeal of Mid Valley MegaMall and Gardens Mall,” he added.

The most recently completed office buildings Gardens South and North Tower enjoy occupancy rates at over 90% respectively. They command average rental rates of RM6 per sq ft (psf) to RM6.50 psf; comparable to buildings in Kuala Lumpur city centre.

Menara IGB, Centrepoint North and Centrepoint South towers have occupancy rates of 96% to 100%, but their rental rates are slightly lower at RM4.20 psf to RM5 psf given that these are not new buildings.

The group's two other office buildings Menara Tan & Tan and Plaza Permata in the city continue to deliver occupancy rates in excess of 85%.

A recent research note on IGB from a local brokerage said IGB's under-appreciated portfolio of office buildings would be able to provide significant valuation kicker to the group.

“IGB's portfolio of office buildings are all carried in its book at historical costs of just RM550mil versus our estimated market value of RM1.61bil.

“The Gardens North Tower is carried in its book at just RM140mil or RM329 psf, while Gardens South Tower is at RM136.9mil or RM335 psf.

“This is despite both buildings enjoying excellent prime rentals of RM6-6.50 psf. Based on capitalisation rates of between 6%-7%, the potential revaluation surplus is estimated to be about RM1.05bil, representing almost 70 sen/share (or 28% of IGB's current market capitalisation),” the report added.

http://biz.thestar.com.my/news/story.asp?file=/2012/4/23/business/11147017&sec=business

TSH Resources Berhad

Low crude palm oil cost per tonne of RM836 in its estates in Sabah

Plantation landbank 98,453ha by end of 2011. 94,003ha is located in Indonesia

Bulk of its land, about 63% (69,780ha of 111,072ha, including land belonging to associate company Innoprise) has yet to be planted while in the planted portion, over 70% of the palms are immature

41,000 planted hectares

As at end of 2011, 47% of the trees were immature (less than 4 years old), 26% were young mature (4 to 6 years), 15% mature prime 1 (7 to 15 years) and 12% mature prime 2 (16 to 25 years)

TSH holds a 22.3% stake in Innoprise Plantations Berhad, which has some 12,619ha of plantation land in Sabah, most of which was planted over the past two to three years. Innoprise has no borrowing.

TSH's total FFB production has doubled over the past four years, from 198,191 tonnes in 2008 to 399,600 tonnes in 2011.

Prediction of TSH's total FFB production to grow to 485,100 tonnes in 2012, 603,800 tonnes in 2013, and 723,800 tonnes in 2014

In 2011, CPO cost per tonne in the group's Sabah estate was RM836 while in Indonesia, it was RM1,290

As at 30 March 2012, TSH Resources Berhad held 67.46% in Ekowood International Berhad and 22.28% in Innoprise Plantations Berhad

 Source: 股海宝藏：陈顺风 可中长期持有 05/21/2012

AGM minutes, webcast, slide presentation

AGM minutes, webcast and slide presentation of Bursa Malaysia Berhad is available here:

http://bursa.listedcompany.com/agm_egm.rev

KL-Singapore High Speed Rail

The 300km high-speed rail project linking Kuala Lumpur and Singapore will cost between RM20 billion and RM30 billion.

60 per cent of the cost will go towards infrastructure development, including civil works and track laying, and about 30 per cent on rolling stocks.

The rail network is expected to cut travel time between Kuala Lumpur and Singapore from six hours to 90 minutes. This will require trains travelling at 250kph.

The project is important for Malaysia as the same alignment can carry freight during off-peak hours Germany’s Siemens proposed the use of its Velaro trains, which have a top speed of 350kph.

UEM Group-Hartasuma, China Infraglobe Consortium-Global Rail and YTL Corp have made presentations on the project to the National Key Economic Area laboratory.

http://www.nst.com.my/top-news/kl-s-pore-rail-project-may-cost-rm30b-1.75495

Next, news reports quote sources to say that the rail link could cost as much as RM30bil, which has ballooned considerably from YTL Corp's original proposal of around RM8bil before land acquisition costs.
It looks like that RM30bil does not include land costs but it's not clear at this ill-defined stage.

But for our economic analysis, let's assume the cost is RM30bil which is funded 10% by equity (RM3bil) and the rest of RM27bil by loans. At an interest rate of just 6%, yearly loan interest alone before repayment comes up to RM1.62bil! Earnings before interest will have to be that much before it makes profits.

Let's say its shareholders are not greedy and want a return of 15% pre-tax on their equity which means a pre-tax profit of RM450mil. That means, its pre-tax earnings before interest is around RM2bil, a nice round figure to work with.

Can it make that much? Let's see. We assume the pre-tax profit margin on sales is say one third or about 33%, which is quite large. Then its sales need to reach RM6bil a year! That's more than Air Asia's entire revenue last year of RM4.5bil.

The key question is this: Is the travel market between Malaysia and Singapore large enough to sustain a RM30bil link? The clear, unambiguous answer is: No! Simply impossible.

What is the travel market between the two countries? One easy way is to calculate the amount of air, road and rail travel into and out of Singapore. That's not likely to garner even RM2bil in total and remember that alternative travel sources are not going to disappear with the KL-Singapore express link, especially since it's likely to be priced at more than airline tickets to recover the massive costs involved.

http://biz.thestar.com.my/news/story.asp?file=/2012/4/21/business/11145911&sec=business

Theme and Amusement Parks in Johor

http://www.btimes.com.my/Current_News/BTIMES/articles/legojump1/Article/index_html

KVMRT

General 
Prices of houses located near proposed MRT Line are set to get a boost.

300m to 500m is the comfortable distance for people to walk to the MRT stations.

The increase will likely come nearer the completion date.

In Singapore, the premium could be as high as 30 per cent, depending on how close the residential unit is and market conditions.

Sungai Buloh- Kajang
The first Sungai Buloh-Kajang line has 51km in total length of which 9.5km — including seven of the 31 stations — will be underground. Thirteen of these stations are expected to have the park-and-ride facilities.

The Sungai Buloh-Kajang line is targeted to serve a catchment of 1.2 million people.

Underground package, MMC-Gamuda JV RM8.2b, 9.5km, single largest package of the MRT that makes up 30-40% out of the total project cost. Tunneling at Jalan Sultan expected in the 2nd quarter of 2014.

V1, from Sungai Buloh to Kota Damansara (bumiputra category)

V4, from Section 16 to Semantan portal (open category)

V5, from Maluri Portal to Plaza Phoenix Station, 5.4km, IJM Construction as the main contractor for works worth RM974mil

V6, from Plaza Phoenix Station to Bandar Tun Hussein Onn Station, 5.2km, Ahmad Zaki Resouces Berhad as the main contractor for a contract worth RM764mil.

bumiputra category - eight companies have been pre-qualified
open category - 11 pre-qualified companies.


There are eight viaduct packages, each averaging RM500mil.

Contractors for the KVMRT projects had to allocate about 3% to 5% from their total contract value for the improved safety, health and environment measures.

MRT Corp has yet to estimate the cost of the SBK line although earlier projections were at RM40 billion including land acquisition which has delayed the start of the project.

Construction of the SBK line will begin in the second or third quarter 2012 and is scheduled to be completed by end-2016, with services commencing in January 2017.

Pre-Q

Car Park

1 acre of car park can accommodate 150 cars

http://biz.thestar.com.my/news/story.asp?file=/2012/4/14/business/11082004&sec=business

谈股论金8

Indicators that may tell the direction of global markets/ Bursa movement in near to medium term

• IBEX 35 52 week low 7505
• Spanish Government Generic Bonds - 10 year note. Previous low 4.85%, previous high 6.7%, >6.5% alarming
• Crude oil price
• Shanghai Stock Exchange Composite Inde. Crucial support 2242

Risk on penny stock trades game plan
1) Time window 6 to 8 weeks
2) Price rise 4-5x, some 10x, even unbelievable 27x
3) Huge daily volume transacted. Highest record 846 million shares
4) Indication near major market top
5) Different stocks chosen each time
6) Bursa issues UMA, caution, designation
7) Who play? Syndicates, stockists, remisiers, retail investors

Buy low sell high
MRCB 1.65
UEMLAND 1.97
Dialog
Genting Malaysia 3.58

股市没有所谓股神，技术分析教父，基本面大师，只有炒家，造势者，操盘手，内幕知情者。

FGVH IPO listing
122,600 family
54 Parliament seats
92 State Assembly seats
Windfall on 10 May?

颜敏树 7 April 2012

四月     - QE3
六月     - 全国大选
六月     - 美国制裁伊朗
七月     - 欧盟实施石油禁运
十一月 -  美国12年11月总统选举

QE3 positive to plantation stocks
No QE3 -> USD up -> positive to airlines stocks, semi-conductor stocks, glove stocks

Good Fundamental Stock:
PE < 10
Share price < NTA
Quarterly results highest in the past 2 years
Recorded highest yearly results
Net cash
Positive operating cash flow
Cash and bank balances
Good dividend

陈剑 7 April 2012

Development of Sungai Buloh RRIM Land

Developers are willing to pay between RM100 and RM200 psf for a portion of the 2,330 acres in Sungai Buloh.

EPF completed the acquisition of the land for RM2.3bn or RM22.66psf from RRIM.

EPF has about 1736 acres to put out to tender after accounting for a 160 acre green belt in the middle of the township and infrastructure using up about 20% of the land.

Developers will have to pre-qualify for the tender and will be divided into 3 categories, Tier 1 or large scale companies with a paid-up capital or shareholders' funds of at least RM1b, Tier 2 or medium-scale companies with a paid-up capital or shareholders' funds of at least RM300m and Tier 3 companies comprising bumiputera developers with a paid-up capital or shareholders' funds of RM1m and above.

7 major developers meet the Tier 1 requirement: S P Setia, Sunway, IJM Land, UOA Development, Mah Sing, Dijaya and MK Land.

The tender for the re-development of the 926ha out of the 1,215ha Rubber Research Institute (RRI) Malaysia land in Sungai Buloh, that is now controlled by Kwasa Land Sdn Bhd, is expected to be called by the third or fourth quarter of this year.

The entire development was supposed to take place over a 10 to 15-year period.

The parcels were likely to be broken down to between 100 acres and 500 acres.

RRI will retain 216ha to build the most modern research facilities including a museum, a commodity college, its headquarters and business clusters.

73ha was allocated for MRT Co to build the Sungai Buloh MRT depot.

The Sungai Buloh land is divided by the Jalan Sungai Buloh-Shah Alam highway which slices the 216ha in the middle.

The northern portion is under the authority of the Shah Alam City Council. It houses the RRIM research station and the MRT depot.

The southern portion comes under the Petaling Jaya City Council. Townships around the area include Kg Baru Sungai Buloh, Kg Sungai Kedondong, Taman Subang Bestari, Tropicana Golf and Country Resort and Damansara Indah.

http://biz.thestar.com.my/news/story.asp?file=/2012/4/23/business/11153304&sec=business

In Media Prima Agm, Tan Sri Azlan Zainol commented

Of the 3,200 acre RRIM land,

• 2,200 acre of land will be allocated for property development and will be broken into 20-30 parcels of land for bidding. Highest bids win.
• 350 acre for MRT depot and 2-3 nos. of MRT station
• 500-600 acre kept by RRIM for R&D and museum
• 100 acre for PR1MA housing scheme

EPF bought the land at about RM21 psf. Current market value RM70-100 psf