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Friday, 22 September 2017

BNM reserves Finance 7.7 months of retained Imports and is 1.1 times the short-term External Debt!

Image result for Bank Negara Malaysia’s (BNM) international reserves amounted to US$100.8 billion
Malaysia: Bank Negara Malaysia's (BNM) international reserves amounted to US$100.8 billion as at September 15, 2017, compared with US$100.5 billion registered two weeks ago.
"The reserves position is sufficient to finance 7.7 months of retained imports and is 1.1 times the short-term external debt," the central bank said in a statement today.
BNM said the main components of the international reserves were foreign currency reserves (US$94.3 billion), International Monetary Fund reserves position (US$0.8 billion), Special Drawing Rights (SDRs) (US$1.2 billion), gold (US$1.5 billion) and other reserve assets (US$3 billion).
The assets include gold and foreign exchange and other reserves, including SDRs (RM432.849 billion), Malaysian government papers (RM4.245 billion), deposits with financial institutions (RM10.544 billion), loans and advances (RM7.838 billion), land and buildings (RM2.113 billion) and other assets (RM7.375 billion).

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Thursday, 21 September 2017

Meeting between #OPEC and #non-OPEC nations.Turnover stood at 457.32 million shares.


Malaysia: Bursa Malaysia rebounded at the opening today as buying interests emerged following three straight days of losses, dealers said.
At 9.15am, the FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,775.45, up 1.87 points against yesterday's close of 1,773.58.
Earlier, the benchmark index opened 1.87 points higher at 1,775.45.
On the broader market, gainers led losers by 154 to 144 with 235 counters unchanged, 1,306 untraded and 23 others were suspended.
Turnover stood at 457.32 million shares worth RM205.76 million.
A dealer said market sentiment further improved on news the Organisation of the Petroleum Exporting Countries (OPEC) and its partners were considering extending or deepening output cuts ahead of the meeting between OPEC and non-OPEC nations tomorrow.
Brent crude futures rose to a five-month high of US$56.48 (US$1 = RM4.19) a barrel today.
On the scoreboard, the FBM Emas Index was 16.79 points higher at 12,660.91, FBMT 100 Index increased 16.99 points to 12,311.67, the FBM Emas Shariah Index jumped 31.34 points to 12,876.67 and the FBM 70 perked 36.17 points to 15,149.99.
The FBM Ace, however, eased by 11.63 points to 6,665.99.
Sector-wise, the Industrial Index increased 5.78 points to 3,238.14, Plantation Index eased 6.01 points to 7,919.33 and the Finance Index fell 13.932 points to 16,728.45.
Among heavyweights, Maybank eased one sen to RM9.48 and Public Bank lost two sen to RM20.58.
Sime Darby gained seven sen to RM9.20. TNB and Petronas Chemiclas were flat at RM14.50 and RM7.29 respectively.
Among actives, Hibiscus advanced three sen to 68 sen and UMW O&G perked 2.5 sen to 37.5 sen.
Hubline and KNM earned half-a-sen each to eight sen and 29 sen respectively while Daya Materials were flat at 8.5 sen.
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Wednesday, 20 September 2017

#Bursa #Malaysia opened lower today weighed by bearish sentiment outcome’s US Federal.


Malaysia: Bursa Malaysia opened lower today weighed by bearish sentiment ahead of the outcome of the US Federal Open Market Committee meeting later today.
At 9.21 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,774.92, down 1.74 points, against yesterday's close of 1,776.66.
Earlier, the benchmark index opened 0.37 of-a-point higher at 1,777.03.
A dealer said sentiment was dampened by persistent concerns over the US central bank's plans to shrink its balance sheet.
On the scoreboard, the FBM Emas Index was 5.81 points lower at 12,648.71 and FBMT 100 Index decreased 7.62 points to 12,306.61.
The FBM Emas Shariah Index increased 17.78 points to 12,877, the FBM Ace improved 22.17 points to 6,683.33 and the FBM 70 jumped 22.3 points to 15,153.52.
Sector-wise, the Industrial Index increased 4.13 points to 3,239.55 while the Plantation Index eased 5.26 points to 7,948.56 and the Finance Index fell 75.689 points to 16,686.56.
On the broader market, gainers led losers 161 to 154 with 222 counters unchanged, 1,300 untraded and 23 others were suspended.
Turnover stood at 237.13 million shares worth RM148.76 million.
Among heavyweights, Maybank added three sen to RM9.84 while Sime Darby and Petronas Chemicals were flat at RM9.18 and RM7.36, respectively.
TNB eased two sen to RM14.54 while Public Bank lost four sen to RM20.56.
Among actives, Hubline and Hibiscus added one sen each to 7.5 sen and 47.5 sen, respectively, while UMW O&G was flat at 30 sen.
CIMB shed 18 sen to RM6.28 while Scomi slipped half-a-sen to 18 sen.

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Tuesday, 19 September 2017

#REIT #Malaysia. In turn, would provide stable dividends to unitholders!

Malaysia: Maybank IB Research believed that the revision in the Inland Revenue Board of Malaysia's (IRB) Taxation of Real Estate Investment Trust (REIT) may lift initial public offering (IPO) interests for unlisted REITs in Malaysia.
The new ruling states that REITs which are not listed on Bursa Malaysia would no longer enjoy any tax exemption even if the funds distribute 90 per cent or more of their total income to unitholders, versus the previous ruling which allows tax exemptions for listed and unlisted REITs.
Maybank IB said the ruling change has no impact to existing listed REITs whereby all REITs have been distributing 90 per cent or more of their income as dividends.

It said while changes are minimal, there is a significant ruling change relating to corporate taxation.
"This ruling change may however lift IPO interests for unlisted REITs in Malaysia. The withholding tax rates for distributions received by unitholders are unchanged," it said.
Maybank IB said the revised ruling has spelled out clearer definitions and rulings on REIT which establishes special purpose vehicles solely for the issuance of sukuk.
It said this ruling defines that trusts have the rights to receive and utilise any proceeds derived from the issuance of sukuk.
"We are neutral on this additional ruling. Elsewhere, the other taxation rulings from the latest Public Ruling have remained the same," it said.
Maybank IB remains positive on REIT sector as a defensive play.
"We expect the sector to maintain its resilient rental income particularly from properties with long-term tenants and leases".
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Monday, 18 September 2017

#KL #Malaysia! Further wave of investment.Sustainable acceleration in output growth.

Image result for infrastructure spending in Malaysia
Malaysia: Strong public infrastructure spending in Malaysia and Hong Kong will ensure more broad-based economic growth than other trade-dependent economies,
"In the event that solid external demand persists and ongoing government infrastructure spending supports a further wave of investment by private businesses, that could mean that growth there slows less in 2018 than we currently expect," 
Global demand has picked up since late last year and that has buoyed Asia Pacific's trade-reliant economies, but that faster export growth has yet to feed into a more sustainable acceleration in output growth.
Support to sovereign credit profiles will be strongest where the export upturn combines with structural reforms and investment in infrastructure, it said.
"The world's biggest economies are recovering at the same time, giving a boost to trade. Among them, China and Japan have been contributing to the global pickup, supporting regional demand.”
Some of those Asian economies that do not benefit from the pickup in global demand, such as Thailand might end up depending on additional fiscal stimulus to support their economies.
It noted that trends in gross fixed capital formation have differed markedly among the region's trade-dependent economies.
"Some businesses have started to invest in new or replacement equipment and facilities, while others are still using existing idle capacity to meet increased demand.”
On the back of signs that global growth is likely to remain robust through 2018, Moody's has raised its GDP forecasts for a number of Asia Pacific economies.
"If solid external demand and robust domestic conditions combined to sustain business investment, that would further boost the medium-term growth outlook for the economies in question,".

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Friday, 15 September 2017

Foreign participation rate was strong,KL rebounded in early session today. #Inflation tightening


Malaysia: Bursa Malaysia rebounded to open higher today after two-days of consecutive losses, prompted by sentiment in regional markets coupled with renewed buying interest in selected heavyweights, dealers said.
At 9.10am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 2.39 points higher at 1,783.76 against Thursday's close of 1,781.37.
Earlier, the benchmark index opened 2.62 points better at 1,783.99.
On the broader market, gainers led losers 128 to 109 with 202 counters unchanged, 1,395 untraded and 38 others were suspended.
Turnover stood at 106.86 million shares worth RM43.20 million.
A dealer said most regional peers rebounded in early session today, boosted by the positive overnight Wall Street, due to the better-than-expected data, including jobless claims.
Data released by the US Labour Department on Thursday showed that jobless claims decreased by 14,000 to 284,000.
US consumer prices also accelerated for August, signalling firming inflation that could allow further monetary policy tightening from the US Federal Reserve this year.
Among heavyweights, Maybank was one sen lower at RM9.71, TNB slipped two sen to RM14.56, Public Bank rose four sen to RM20.62 while Sime Darby was flat at RM9.14.
Among active counters, MMAG Holdings shed one sen to 19.5 sen, Ablegroup and Sino Hua-An earned half-a-sen each to 14.5 sen and 26 sen, respectively, while Anzo Holdings was flat at 11 sen.
The FBM Emas Index was 16.19 points better at 12,703.48, FBM 70 added 23.79 points to 15,203.52, FBM Emas Shariah Index went up 8.96 points to 12,903.78, FBMT 100 Index increased 17.24 points to 12,365.81 and the FBM Ace improved 1.02 points to 6,705.57.
Sector-wise, the Industrial Index advanced 2.29 points to 3,236, the Plantation Index gained 10.96 points to 7,933.77 and the Finance Index perked 6.35 points to 16,831.24.

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