Monday, November 30, 2009

20091130 1837 FCPO November 09 Monthly Chart Study.

FCPO ended the November 2009 month with a wide range up bar candle marching through and closed above the middle Bollinger band = market sentiment has just started to turn positive at the very initial premature stage. Bollinger band width continue to narrowing = market could still possilbly trading side way range bound. MACD Histrogram reading improved = buying interest started to returned to the market. Still too early to confirm anything at this moment of time and the plotted upward trend line should be taken as a guide and also possible support line. 

20091130 1825 FCPO EOD Daily Chart Study.

FCPO closed 10 points lower at 2472 with lower volume traded forming a doji bar candle. Price still closed above middle Bollinger band = market uptrend remained unchanged. Bollinger band width turned narrowing = the uptrend correction phase is likely to continue. MACD Histrogram getting lower = selling activities dominated today's market transaction. Correction likely to continue to immediate support stands at 2430 level.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.

20091130 1802 FKLI November 09 Monthly Chart Study.

FKLI monthly chart wise showing no sign of the bear yet with price continue to trade higher above the middle and near the upper Bollinger band. Bollinger band width continue to narrowing may suggest that market could possibly near a significant top or major resistant level unless the band width started to turn outwards. MACD Historgram continue to record higher reading telling us that buyer participantion in ther market still increasing. Overall the uptrend remained intact with possible correction taking place.     

20091130 1742 FKLI EOD Daily Chart Study.

FKLI Nov 09 contract closed marginally higher up 1.5 point at 1267 with higher volume transacted. Chart wise, price still trading below the middle Bollinger band with the band width getting tighter = market is likely to trade side way range bound downwards biased. MACD Histrogram stayed slightly lower = buying and selling activities are near evenly distributed. Expecting a side way range bound market downward biased market. 
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell
: sell at resistant/strength/break down with larger cut loss and profit target.

20091130 1407 Malaysia Corporate News.

Hampered by poor offtake and excalating cost of subsidy, the Government’s highly promoted B5 mandate – the blending of 5% biodiesel with 95% diesel – now stands at the crossroads. Seen initially as one of the national strategic measures for better palm oil stock management with full implementation by January 2010, the B5 mandate is now being closely scrutinised by the Government for a possible reduction to B3 mandate soon.
  • This latest decision however does not “blend” well with local palm oil biodiesel producers which have long suffered in silence over the snail phase progress of the B5 mandate. Despite making huge investments in their biodiesel plants here, many felt that their plight were overlooked. (Starbiz) 
Last Thursday, the economic regulator of water and sewerage companies in England and Wales, Ofwat, published final determinations of water and sewerage charges for 2010-15. YTL Power’s Wessex Water has been granted a 1.2% average annual price increase limit, higher than the 0.5% weighted average for all the water and sewerage companies. (Ofwat’s Press Release)

CEO of YTL Power’s YTL Communications, Wing K Lee, is confident that a nationwide WiMAX connectivity is a very real possibility. He also said that the introduction of mobile 4G WiMAX was more than the upgrading of existing technology; it was an entire paradigm shift.
  • YTL Communications expects to require 1,920 base stations to cover the whole of Peninsula Malaysia.
  • Rolling out in 3Q 2010, YTL is promising a nationwide WiMAX network with greater speeds than existing 3G networks. (Financial Daily)
There is no denying that competition has gone up several notches of late in the broadband space. Industry players are scrambling for net adds. While Green Packet’s P1 added 36,000 subscribers in 3Q, Telekom Malaysia (TM) saw a further reduction of its broadband net addition subscribers to 28,000. TM, however, is not sitting idle. In an earlier interview, group CEO Datuk Zam Isa said the company would continue to put in a lot of effort to improve its Streamyx service on all fronts. (Starbiz)

Axiata Bangladesh, and Warid Telecom have signed an infrastructure sharing agreement which allows both the operators to share tower spaces for setting up microwave and GSM antennas. It also allows sharing land for setting up BTS rooms, electrical power and generator power sharing. (Telecompaper) 

Emery Oleochemicals Group, 50% owned by Sime Darby, is geared for competition and profit growth after a year of internal restructuring and rebranding. Emery CEO and board member Dr Kongkrapan Intarajang said the group has been busy with internal restructuring and reorganising its operations in the US, Canada, Germany and Malaysia since PTT Chemical's entry. "Previously, the group operated regionally. Now, it has been reorganised to operate across regions and interact seamlessly as a global company headquartered here in Malaysia. "We have trimmed it into three main regions comprising Asia, Europe and the US," Kongkrapan added. (BT)  

Sime Darby will build a new RM100m hospital at its residential development in Ara Damansara, Selangor, bringing the group's total number of hospitals in the country to four. The new hospital is expected to be completed by 2012. An industry source said the new hospital is part of Sime Darby's vision in becoming a formidable healthcare player in the country and the region. "The new hospital in Ara Damansara will be known as the Sime Darby Medical Centre Ara Damansara. Sime Darby is intensifying efforts to bolster its healthcare business division, where the segment is very competitive but recession-proof, enabling the group to earn an income even during economic hard times," the source added. (BT) 

A new 300MW gas-fired power plant, owned by a 60:40 JV company between Petronas Gas and Yayasan Sabah’s business arm NRG Consortium, is set to give Sabah’s critical energy sector a boost by 2013. CM Datuk Musa Aman said the plant would resolve much of the power shortage problems on the west coast of the state although there was still a need for another plant on the east coast. (Starbiz)

MMC Corp’s unit, Malakoff Corp, is exploring the possibility of acquiring a substantial stake in 1,400MW Jimah power plant and the company undertaking its operations and maintenance works, say sources. “It is carrying out due diligence on Jimah O&M Sdn Bhd and Jimah Teknik Sdn Bhd and will decide if these are feasible investments,” says a source. “The due diligence is expected to be concluded next month,” adds the source. The coal-fired Jimah power plant is 80%-owned by Jimah Energy Ventures Sdn Bhd while Tenaga holds 20%. (The Edge Weekly)

Port of Tanjung Pelepas (PTP) and the Federation of Malaysian Manufacturers' (FMM) Johor branch have agreed to leave the final decision to consolidate PTP and the Johor Port to the Cabinet. PTP deputy CEO Azlan Shahrim said the consensus was reached after a two-hour meeting between the two parties. Azlan said the consolidation was proposed by MMC Corp as Johor Port was congested and operating at full capacity with no room for expansion. (BT) 

The Penang government has allowed two local companies to build 1km monorail test tracks in Seberang Perai Selatan, Deputy CM II P. Ramasamy said. "Our aim is to showcase the monorail technology. The state government is not bound by any agreement involving project cost," he said. "We hope that the monorail tracks and coaches will be ready in one year. The two companies will be asked to dismantle the tracks and vacate the land if we feel that it is unsuitable," he added. (Bernama) 

Malaysia Airlines’ (MAS) success in securing finances worth US$126m under the Japanese Operating Lease (JOL) for seven ATR72-500s aircraft was named “Aircraft Leasing Deal of the Year – Asia” by Jane Transport Finance. The success in securing the financing was especially significant in light of a very quiet Japanese equity market. JOL is a unique aircraft financing structure whereby the financier takes the form of a special purpose vehicle, which acquires title of the aircraft, and leases the same to MAS on operating lease terms. (BT)

Proton is set to launch its maiden MPV Exora in the Thai market at the Thailand International Motor Expo this week. Based on initial feedback from the media and industry experts, a good response was expected from Thai buyers. (Bernama)

TA Global is teaming up with Townline Gardens Inc, a Canadian home builder, on a 65:35 JV basis, to develop a C$130m (RM422.5m) mixed-development project over seven years. The residential and commercial units will be built on a 8.9ha land in the City of Richmond, British Columbia, in a project known as "The Gardens". (BT)

20091130 1327 FKLI Mid Day Hourly Chart Study(Dec09 Contract)

Last Friday panic regional equity market selldown due to Dubai dept incident spurts over during FKLI opening this morning followed by buyer bargain hunting activities and major Asia market recovery helped stabilise the market's. Hourly chart wise (Dec09 chart), price still closed below the middle Bollinger band with the band width expanding marginally = market could possibly move lower. However, MACD Histrogram continue to edge higher = buying power remained strong through out the morning session. Immediate resistant seen at the middle Bollinger band followed by 1267 level.

20091130 1312 FCPO Mid Day Hourly Chart Study.

Crude palm oil futures continue to consolidate traded 19 points lower to closed at 2463. Hourly chart wise, price traded below the middle Bollinger band = market is in selling mood. Bollinger band width turning inwards mildly = side way range bound market likely. MACD Histrogram continue to fall lower = seller took charge of the market in the morning session. Should Bollinger band width reversed and turn outwards, further downside movement would be likely. Immediate support seen at the lower Bollinger band and followed by 2430 level. 

20091130 0923 FCPO Weekly Chart Study.

A double bottom formation has been identified on the FCPO weekly chart basis that tested the neckline resistant. All the indicators in the chart are showing an upside biased market movement for the week ahead thats favour a double bottom break up. Should this is the case the immediate target/resistant will be at the 2800 level. And should the break up failed, expecting a sideway range bound market with the resistant still rest at the 2523~2525 level and immediate support stands at the 2285 and followed by the middle Bollinger band level.

20091130 0910 FKLI Weekly Chart Study.

FKLI weekly chart still maintaining its uptrend sentiment. At closed of the week, price still trading at above Bollinger band and within the narrowing uptrend channel = market still remained biased to the upside. However, Bollinger band width narrowing and MACD Histrogram continue to dive lower = a correction would be likely to happen in the near term. Expecting a side way range bound market. Immediate support rest at the plotted lower trendline followed by the middle Bollinger band.