steel

Not Hot Enough. Recent news of steel prices and demand recovering globally prompt us to make a review on our sector rating. Our fundamental review tells us that the outlook for 4Q has improved as selling prices are recovering and there is potential restocking towards year-end, but the upside is limited. Although there is no earnings revision as the overall impact is well within our estimates, we are turning a bit positive by raising our PER multiple one notch up but continue to keep our P/NTA valuation at +1 standard deviation of the historical band. As this marginal fair value increase offers limited upside, we maintain NEUTRAL.

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AS1M

Amanah Saham Nasional Berhad (ASNB) announced first income distribution of 6.38 sen per unit for its latest product, Amanah Saham 1Malaysia (AS 1Malaysia) for the financial year ended 30 September 2010.

This translates into a payout of RM204.67 million and will benefit 259,162 unitholders who collectively own 4.02 billion units of AS 1Malaysia.

As of 21 September 2010, the AS 1Malaysia fund has recorded a gross income of RM294.05 million. Profit from the sale of shares contributed RM165.47 million or 56.3%; dividend income from investee companies contributed RM99.80 million or 33.9%, and RM28.78 million or 9.8 % is derived from investment in short term instruments and other income.

The calculation of income distribution is based on the average monthly minimum balance held throughout the financial year beginning 5 August 2009 until 30 September 2010.

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Google detected 1-million-dollar-blog containing malware. Readers, don’t worry because there is no malware here!. The problem was caused by Innity, their Indonesian server specifically.

The good news is, Innity manage to solve the problem. But, the bad news is 1-million-dollar-blog still showing the same warning if you are using Chrome or Firefox. I ask Google to review my site & I hope they fix it soon.

Below was the brief message send by Google

Dear site owner or webmaster of http://1-million-dollar-blog.com/,

We recently discovered that some of your pages can cause users to be infected with malicious software. We have begun showing a warning page to users who visit these pages by clicking a search result on Google.com.

Suspected injected code Instances
<script src=”http://cdn.innity.com/network.js” type=”text/javascript”></script>


Petroliam Nasional Berhad

Petronas Chemical Group’s IPO is one of two offerings to be launched by government-run Petronas in response to Prime Minister Najib Razak’s call to reduce state ownership in the private sector and boost liquidity in the stock market when unveiling NEM early this year.

Petronas has filed a draft prospectus for an initial public offering (“IPO”) of its entire petrochemicals business. The new entity, Petronas Chemical Group Berhad (“PCGB”) is formed  by merging of 22 Petronas wholly owned or majority owned subsidiaries. PCGB has total assets of about RM27 billion as of March 2010.

Petronas Chemical Group’s IPO will be the country’s second largest IPO after Maxis Communication Berhad. PCGB is expected to be listed next month

The draft prospectus on the Securities Commission website did not state how much PCGB is seeking to raise but banking sources have put the value of the firm at over $2 billion (RM 6.2 billion).

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money

Most of us know of the 80/20 rule. It also known as Pareto Principle or Principle of Least Effort. What it means is that, 80 percent of our success comes from 20 percent of our efforts. This rule was originated by the Italian economist Vilfredo Pareto in 1897.

However, Robert Kiyosaki believes that the 80/20 rule is only good for average. In his book “Rich Dad’s Guide to Investing: What the Rich Invest in, That the Poor and the Middle Class Do Not!“, he explain that in the world of money, the most suitable rule is 90/10.

Rule 90/10 means that 90 percent of the people make 10 percent of the money and 10 percent of the people make 90 percent of the money.

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