Wednesday 29 August 2012


What is the shortest interval you have seen for two consecutive dividend payments? Quarterly?

The ex-dates for final dividend and the 1st interim dividend of the following is only a day apart but both will be paid on the same day...

Tuesday 28 August 2012


Currently the cost of rubber production is between RM4 and RM5 per kg

If the price of rubber is RM7.47 per kg, that translates into around RM6 per kg for dry rubber and RM3 per kg for wet rubber

At RM10 per kg, the farmgate price would increase to RM8 per kg for dry rubber and RM4 per kg for wet rubber.

Source: New Straits Times 28 August 2012

rubber plantation land transactions in Malaysia and Thailand have been priced at between RM20,000 and RM25,000 per ha

Source: The Star 30 January 2012

Monday 27 August 2012

If Malaysia is safe, why... ?

If Malaysia is safe, why...

1. MCA has called on shoppers to boycott shopping malls that failed to provide adequate safety features to protect its customers? (Source)

2. The Home Minister Datuk Seri Hishammuddin Hussein made the shocking admission that the focus on crime-busting was “not seen as a need” for the government, until only recently, and.then claimed that the government has “now got the political will right to the top” to fight crime?

3. Tinting manufacturers and distributors report a boom in sales for the polyester films that prevent the car windows from shattering? (Source)

4. More house buyers are "willing" to pay premium and monthly fee for gated and guarded community?

5. Shops and offices lock the doors during operating hours even though this may lead to fewer customers walking into their premises

6. Residents have taken steps to restrict access to their housing estates by setting up guard posts and putting up some form of physical barrier surrounds the boundaries of the housing estates and employing private security services.

7. Are we seeing more vendors selling pepper sprays?

8. More CCTV are installed on the streets?

9. Shops in a housing estate all have metal grilles, which were always closed and that customers had to ask for items from outside and were not allowed to enter the shop? (Source)

10. Robbery of whole ATM machine happens frequently?

11. Developers install 3 point access system to attract buyers?

You may want to read this: Crime statistics: Let the truth be told ― Anonymous Policeman

Thursday 23 August 2012

Sam - Theoretical Ex-Price

Sam Engineering & Equipment - Calculation of theoretical ex-price

Mother share cum price: RM3.44

Issuance of ICULS on the basis of 2,588 of RM1.00 nominal value each for every 1,000 existing ordinary shares.

Purchase consideration RM1.00/ ICULS (at 100% of ICULS nominal value)

Conversion price: Conversion price of the ICULS is at RM2.10 nominal amount of the ICULS for every one SAM Malaysia Share

A way to work out the ex-theoretical price
= Total investment / total number of shares owned after conversion

= (3.34 + 2.588)/ (1 + 2.588/2.1)
= 2.655
= 2.655 (rounded off)

See also theoretical ex-all price for MBM Resources Berhad

Wednesday 22 August 2012

First Generation IPPs

First Generation IPPs
Existing Facility
Existing Capacity (MW)
YTL Power Generation Bhd
Paka, Terengganu
Pasir Gudang, Johor
Genting Sanyen Power Sdn Bhd
Kuala Langat, Selangor
Segari Energy Ventures Sdn Bhd (Malakoff Corp Bhd's unit)
Lumut, Perak
Port Dickson Power Bhd (Sime Darby Bhd's unit)
Tanjung Gemuk, Port Dickson
Powertek Bhd
Teluk Gong, Melaka
Tenaga Nasional Bhd
Connaught Bridge
Pasir Gudang (Combined Cycle)
Pasir Gudang (Open Cycle)
Serdang (Unit 1, 2, 3)
Source: The Edge 20 August 2012

Total combined capacity 6320MW

Monday 13 August 2012

Kassets to IGB Reit Conversion

IGB Reit offers limited IPO shares to retail investors. A sure way to get IGB Reit other than purchase from the market after IPO listing is via Kassets. (Kassets shareholders are expected to received the shares of IGB Reit and cash distribution approximately 6 months from the IGB Reit listing)

Based on indicative IPO offer price of RM1.25/ share, what does Kassets shareholders gets?

As shown above, each Kassets share will receive 5.24 units of IGB Reits and approximately RM2.75 cash, which bring the total distribution value per Kassets share to RM9.30

However, if the final IPO price differs from the indicative IPO price, the distribution value per Kassets share shall be adjusted accordingly from RM9.30/ share by adjusting the total value of 2730mn units of IGB Reit (RM3.4124b) and the proceeds from the sale of the Gardens Mall (670mn x RM1.25 = RM837.50)

Monday 6 August 2012

Lease renewal cost for leasehold land

Below is the calculation for lease renewal cost for leasehold land in Selangor, for reference

The current premium for lease renewal is calculated based on one-quarter of the land's current market value, divided by 100 and multiplied by the number of years renewed.

or 0.25% of the land's current market value/ year


Thursday 2 August 2012

Timeliness in Completion of KVMRT Projects

This blog posting is to keep track the progress of KL MRT projects. 5 months after statement made in December 2010, the start of MRT line construction has been delayed by 4-5 months while the completion has been pushed back at least 1 year.

24 December 2010: MRT tender in April, work starts in July
  • Work on the first phase of the MRT system, which would see the construction of a new rail line from Sungai Buloh to Kajang, is expected to start in July.
  • The project is expected to be completed by 2015.
6 May 2011: First tender for MRT to kick off next month
  • Syarikat Prasarana Negara Bhd (Prasarana) group director of project development Zulkifli Yusoff said works on the first package of elevated track, which is between Maluri and Plaza Phoenix, will start by November or early December.
  • We hope to complete the overall project by December 2016.
9 July 2011: Work on MRT project to start in November
  • KUALA LUMPUR: Work on the My Rapid Transit (MRT) project touted by the Prime Minister as the most practical solution for transportation needs in the Klang Valley will start in November. 
  • The first phase, spanning 51km and with 31 stops from Sungai Buloh to Kajang, will be completed in 2016.
9 February 2012: MMC-Gamuda JV firms up details with MRT Co.
  • The SBK MRT project is expected to last seven years (18 months have passed) with completion in July 2017.
2 August 2012: MRT Project moves into active construction phase
  • The deadline for phase one operations of the Sungai Buloh-Kajang Line 1, that runs from Sungai Buloh to Semantan, is on December 2016.
  • The phase two from Semantan to Kajang will be operational in July 2017,” 

More updates when there are news releases...