Zafa Advisor

KUALA LUMPUR: Capital A Bhd has positive equity and is optimistic about exiting its Practice Note 17 (PN17) status by the end of December this year, according to its chief executive officer, Tan Sri Tony Fernandes.

He said the group hopes to secure shareholders’ approval at AirAsia X’s (AAX) extraordinary general meeting (EGM) tomorrow.

"Once AAX and the aviation group are combined, we have every shot of becoming number one from being positioned as number two in the world at the moment.

"I cannot predict the shareholders, but I can say that the share price has reacted very well since we put out the proposal. That would tend to indicate the market wants this to happen,” he said during a media briefing on Capital A’s post-EGM and growth plans here today.

As at 11.19am, Capital A’s share price remained unchanged at 92.5 sen with 9.54 million shares traded.

GOLD prices nudged higher on Thursday, while traders await a key U.S. inflation data due later in the day to gauge the Federal Reserve's future monetary policy stance.

Spot gold rose 0.2% to $2,614.00 per ounce by 0246 GMT, after easing for the previous six sessions. Prices scaled a record high last month.

U.S. gold futures gained 0.2% at $2,631.40.

The U.S. Consumer Price Index (CPI) for September is due at 1230 GMT and Producer Price Index (PPI) data on Friday.

"If core CPI comes hotter, U.S. Treasury yields will go higher and that is bad for gold. I think there is room for prices to come down, but don't necessarily see a downtrend in the big picture," said Ilya Spivak, head of global macro, Tastylive.

Markets see an 80% chance of a 25-basis-point Fed rate cut in November.

A "substantial majority" of Fed officials at the September meeting supported beginning an era of easier monetary policy with an outsized half-point rate cut, but agreed that further easing will be data-driven, according to its minutes.

If there is a big geopolitical shock triggered by the situation in the Middle East and with the Fed in an easing cycle, there is still a chance for the bullion to scale another record this year, Spivak said.

The zero-yielding bullion is preferred in a low-interest rate environment as well as amid periods of economic and geopolitical turmoil.

San Francisco Fed Bank President Mary Daly said one or two more rate cuts this year are likely if the economy evolves as she expects. Dallas Fed Bank President Lorie Logan called for gradual cuts and said that the U.S. central bank should not rush.

Meanwhile, Israel's plans to strike Iran added to concerns of rising tensions in the Middle East.

Spot silver rose 0.3% to $30.60, platinum added 1.4% to $958.60 and palladium firmed 1.3% to $1,052.61.

SINGAPORE: Asian stocks rose on Tuesday to their highest in more than two and half years, boosted by a slew of Chinese stimulus measures while expectations for more U.S. rate cuts kept risk sentiment aloft and the dollar under pressure.

In an eagerly awaited press conference, China's top financial regulators unveiled a slate of measures, saying it would cut bank reserves by 50 basis points while reducing mortgage rates to try to spur sluggish economic growth.

The moves sent Chinese stocks higher, with the blue-chip CSI300 Index opening 1% higher, while the broader Shanghai Composite index was also up 1% at the open.

Hong Kong's Hang Seng Index jumped over 2% in early trading, with the mainland properties index surging 5%.

That pushed MSCI's broadest index of Asia-Pacific shares outside Japan 0.41% higher to 588.43, levels last seen in April 2022.

"While there was some anticipation that stimulus measures would be announced after they mentioned there was going to be a press briefing, the package of measures so far, I would say, is probably larger than what market was expecting," said Khoon Goh, head of Asia research at ANZ.

"Taken as a whole, this could help support the economy. Whether or not it is sufficient to address some of the underlying issues, particularly around the lack of confidence in the economy, I think still remains to be seen."

Meanwhile, investor focus will also be on the Reserve Bank of Australia's policy decision later in the day when it is widely expected to stand pat on rates although the Federal Reserve's 50 basis point cut last week has raised some expectations Australia could follow the Fed.

"The RBA is likely to stick to its hawkish stance for now, aiming to keep inflation expectations anchored," said Charu Chanana, head of currency strategy at Saxo.

"A potential pivot may come only at the Nov. 5 meeting depending on further labour market data and the Q3 CPI report."

Japan's Nikkei was the biggest mover in early trading, soaring 1.4% to a near three-week high ahead of an eagerly awaited speech by Bank of Japan Governor Kazuo Ueda.

Overnight, U.S. stocks closed modestly higher as traders continued to digest the Fed's big move, with policymakers explaining the need for the 50 bp cut.

Markets are currently evenly split on whether the U.S. central bank will go for another 50 bp cut or a 25 bp cut in November, CME Fedwatch tool showed. They are pricing in 76 bps of easing this year.

Brown Brothers Harriman Senior Markets Strategist Elias Haddad said the market is overestimating the Fed's capacity to ease. "However, it will likely take strong U.S. jobs data to trigger a material upward reassessment in Fed funds rate expectations."

The next non-farm payrolls report is due Oct. 4 and until then, Haddad said a more dovish Fed and a strong U.S. economy will support market sentiment and further undermine the dollar against growth-sensitive currencies.

The dollar index, which measures the U.S. currency against six rivals, was at 100.95, not far from the one-year low of 100.21 touched last week. The yen was little changed at 143.65 per dollar.

The euro was steady at $1.11055 in early Asia, having dropped about 0.5% on Monday as business activity reports for the euro zone economy disappointed, raising expectations for more interest rate cuts by the European Central Bank this year.

The Australian dollar was 0.15% lower at $0.6828 but hovering close to the nine-month high it touched on Monday.

In commodities, oil prices were slightly higher in early trading, with Brent crude futures up 0.26% at $74.09 a barrel, while U.S. crude futures climbed 0.3% to $70.6. Oil prices slid on Monday on demand worries as well as weak economic data from Europe.

KUALA LUMPUR: Malaysia and China have laid a solid foundation for the enhanced collaboration in new key and innovative sectors that will drive the nations’ economies forward, said Prime Minister Datuk Seri Anwar Ibrahim.

Anwar, who is also the Finance Minister said that both countries have enjoyed longstanding bilateral relations underpinned by robust trade and investment relations.

He pointed out that the visit of Chinese Premier Li Qiang in June this year has reaffirmed the enduring friendship and mutual respect between Malaysia and China.

"The visit witnessed the signing of the Second Cycle of the Five-Year Programme for Economic and Trade Cooperation and the Memorandum of Understanding on Strengthening Investment Cooperation in Digital Economy and Green Development, between both countries," he said in his keynote address at the 17th World Chinese Entrepreneurs Convention (17th WCEC) at the KL Convention Centre today.

Anwar said that last year, China remained Malaysia’s largest trading partner for the 15th consecutive year, with total trade reaching US$98.80 billion.

On the investment front, China is the fifth largest foreign investor in Malaysia for 2023, contributing US$14.5 billion.

Meanwhile, Anwar said that the government has always recognised the contribution of the Malaysian Chinese community in the country’s socioeconomic developments, in the economic, cultural, educational and industrial sectors.

He said Chinese entrepreneurs have collaborated closely with others and have laid the foundations for forging deeper and stronger business and economic links across national borders.

Globally, they could also assume a bigger role in safeguarding regional economic cooperation, ensuring the security of crucial supply chains and promote our global socioeconomic development agenda. - Bernama

NEW YORK: Oil prices held at a 14-month low on Thursday as worries about demand in the US and China and a likely rise in supplies out of Libya offset a big withdrawal from US inventories and a delay to output increases by Opec+ producers.
Brent futures were down 1 cent to settle at US$72.69 a barrel, while US West Texas Intermediate (WTI) crude fell 5 cents, or 0.1%, to settle at US$69.15.
That was the lowest close for Brent since June 2023 for a second day in a row and the lowest close for WTI since December 2023 for a third day in a row.
The US Energy Information Administration said energy firms pulled 6.9 million barrels of crude out of storage during the week ended Aug. 30.
That was much bigger than the draw of 1 million barrels analysts forecast in a Reuters poll, but was in line with the draw of 7.4 million barrels reported by the American Petroleum Institute industry group on Wednesday.
Further support came from discussions between the Organization of the Petroleum Exporting Countries and allies led by Russia, known collectively as Opec+, about delaying output increases due to start in October.
Opec+ agreed to delay a planned oil output increase for October and November, and said it could further pause or reverse the hikes if needed.
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Analysts at US investment banking firm Jefferies said the Opec+ decision has the effect of tightening fourth-quarter balances by about 100,000-200,000 barrels per day (bpd) and should be sufficient to prevent material builds even if demand from China does not improve.
Bob Yawger, director of energy futures at Mizuho, however, said the market was not impressed with the OPEC+ news.
"The gasoline market would be capable of cratering crude oil even if the Opec+ chaos was not leaning on (the) price. If you don’t need the gasoline, you don’t need the crude oil to make gasoline," Yawger said.
After energy firms added a surprise 0.8 million barrels of gasoline to US stockpiles last week, US gasoline futures fell to their lowest close since March 2021.
In Libya, some tankers were being allowed to load crude from the Opec member's storage even though output remained curtailed amid a political standoff over the central bank and oil revenue.
The latest US economic data offered some relief about the health of the economy to a market looking for clues about the path of the Federal Reserve interest rate cuts.
The Fed hiked rates aggressively in 2022 and 2023 to tame a surge in inflation, but is widely expected to reduce borrowing costs at its Sept. 17-18 policy meeting. Lower rates can boost economic growth and demand for oil.
US services sector activity was steady in August, but employment gains slowed, remaining consistent with an easing labor market.
Meanwhile, US private job growth hit a 3-1/2-year low in August and data for the prior month was revised lower, potentially hinting at a sharp labour market slowdown.
By contrast, the number of Americans filing new applications for jobless benefits declined last week as layoffs remained low.
"In our view, the 'Beige Book' suggests that the economy is already growing at a below-trend pace and that recession risks are rising," analysts at UBS said in a note, referring to the release on Wednesday of a Fed report that acts as a temperature check on the health of the economy about every six weeks. — Reuters

PELABURAN MUDAH BUAT ORANG MUDA

Untuk orang muda yang baru mula bekerja, adalah penting untuk memulakan dengan jumlah yang kecil, menambah ilmu tentang pelaburan, dan bersabar.

Melabur secara konsisten dan jangka panjang adalah kunci untuk membina kekayaan.

Nak tahu peluang pelaburan saham di Bursa Malaysia TANPA TUNAI melalui Skim Pelaburan Ahli KWSP dan diuruskan oleh Portfolio Manager bertauliah dan berpengalaman klik link di KOMEN. Jom saya bantu.

KUALA LUMPUR: Scanwolf Corporation Bhd’s wholly-owned subsidiary, Scanwolf Flooring Industries Sdn Bhd, has recently secured multiple flooring supply contracts totalling RM16.1mil.

In a statement, Scanwolf announced that, with the addition of the latest contracts, its manufacturing order book stood at RM18.1mil as of July 31, 2024, offering visibility into the company's earnings for the next one to two financial years.

It said the contracts were awarded by several prominent construction and real estate companies to provide high-quality flooring products for various real estate projects in the Klang Valley area.

“Looking ahead, Scanwolf will continue to focus on the research, development, and provision of innovative flooring products to meet evolving market needs and promote the sustainable development of the construction industry.

“For the remainder of 2024, the company expects to secure tender opportunities worth RM14.3mil from the public sector, as well as ongoing orders from the B2B (business-to-business), B2C (business-to-consumer), reseller and export markets,” Scanwolf said.

KUALA LUMPUR: Skyworld Development Bhd’s wholly-owned subsidiary, Aspirasi Cekap Sdn Bhd has secured a contract from Perbadanan PR1MA Malaysia (PR1MA) to develop affordable homes for PRIMA at Brickfields 2 in Kuala Lumpur.

PR1MA will be providing the development land for the proposed development and SkyWorld Development will be responsible for developing and completing the Proposed Development using its own funds, it said in a filing with Bursa Malaysia.

“The proposed development consists of 491 units of PR1MA Homes. In consideration of the development rights, the company will pay PR1MA RM32.17mil,” Skyworld said.

The group expects the contract to contribute positively to future earnings and enhance the net assets of SkyWorld Development Group.

Belajar Lebih Cepat untuk Menang dalam Pelaburan Saham

Dalam dunia pelaburan saham, siapa yang belajar cepat, dia yang menang.
Kenapa? Sebab pasaran saham sentiasa berubah. Satu hari mungkin harga naik, esoknya jatuh. Yang penting, kita kena cepat adaptasi dan belajar dari setiap perubahan.
Bayangkan, kalau kita asyik tunggu nak belajar semua benda dulu baru nak mula, kita mungkin ketinggalan. Tak perlu tunggu jadi pakar baru nak mula melabur. Mulakan dengan langkah kecil, dan belajar sepanjang perjalanan. Setiap keputusan yang kita buat, baik atau buruk, adalah peluang untuk belajar.
Contohnya, bila kita buat silap dalam memilih saham, jangan terus rasa down. Ambil peluang tu untuk analisis apa yang salah dan belajar daripadanya. Mungkin kita terlupa tengok laporan kewangan syarikat, atau mungkin kita terlalu terpengaruh dengan hype. Semua tu pengalaman yang berharga.
Selain tu, rajin-rajin baca buku, artikel, dan tonton video tentang pelaburan saham. Belajar dari mereka yang dah berjaya. Tapi ingat, yang paling penting adalah kita aplikasi apa yang kita belajar. Tak guna kalau kita tahu teori je, tapi tak pernah cuba praktikkan.
Jadi, kalau nak menang dalam pelaburan saham, belajar cepat dan belajar terus. Jangan takut buat silap, sebab dari situ kita akan jadi lebih bijak. Setiap hari ada peluang baru untuk belajar sesuatu yang berguna.

KUALA LUMPUR: LPI Capital Bhd, which reported a 23% increase in net profit for the second quarter ended June 30 (2Q24), has declared a first interim dividend of 30.0 sen per share.

“This first interim dividend, which amounts to RM119.5mil, is part of the group’s continuing efforts to reward the shareholders for their continued support. This first interim dividend payment represents 66.6% of the group’s net profit attributable to shareholders,” LPI said in a statement.

The insurer posted a net profit of RM78mil, or earnings per share of 19.58 sen in 2Q24 compared with RM63.4mil, or 15.92 sen in the year-ago quarter.

Revenue for the quarter was higher at RM469.4mil against RM462.4mil previously.

The improved revenue was largely contributed by its general insurance segment, which increased to RM469mil as compared to RM462.1mil in 2Q23, due to the higher insurance revenue coupled with improved investment income.

LPI said the investment holding segment recorded marginally higher revenue of RM400,000 as compared to RM300,000, contributed by higher interest income received.

In the first half (1H24), LPI posted a net profit of RM179.3mil, up 30.6% from RM137.2mil while revenue increased marginally by 1.45% to RM939.2mil from RM925.7mil last year.

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Net return on equity of the LPI Group increased to 8.0% from 6.5%, while earnings per share was reported higher at 45.01 sen from 34.45 sen in 1H23.

“The LPI Group will leverage its established agency network, insurance brokering partners and extensive global partnerships to tap into this expanding insurance business.

“As we confront the challenges of this dynamic market, the group remains committed to fostering excellent customer services and will continue to promote wider adoption of digital solutions to enhance efficiency and improve customer experience,” LPI said.