Cinema-Blend-whereiszemoola

Nothing original here.

Just love this piece of cartoon. XD

Congratulaions!

Here's the good news.....

The streak of consecutive outflows from stock equity mutual funds by Americans ends at 33 straight weeks babe!

Yes, last week there was an inflow recorded!

Americans have put money into their equity funds.

How much?

Err... just 335 million.

Here's the score. From 28 April 2010 to 22 Dec 2010, Americans withdrew some 100.898 Billion (yeah.. that's no typo and it's Billion) from their stock equity mutual funds.

*** 13 Jan 2010. This posting is rendered pointless! LOL!

Do refer this new posting: New Year New Outflows From Equity Funds

Past postings:

• What Does 33 Straight Weeks Of Fund Outflows Mean?
• It's 30 Consecutive Weeks Of Fund Outflows
• Another Week, Another Outflow
• More Fund Outflows Seen
• Equity Fund Sellers: They Are Baaaaack! 87 Billion Redeemed
• Equity Fund Outflows Shrinks Once Again
• Smallest Outflow Seen In Equity Funds
• Shh.. Remember The Market Is Getting So Hot...Let's Not Mention The Fund Outflows
• Shh.. Market's Going Higher, Let's Not Mention The Fund Flows Or Better Still Let's .....
• 20 Consecutive Weeks Of Fund Outflows And 71 Billion Withdrawn From Equity Funds
• More Money Redeemed From Equity Mutual Funds65 Billion Outflow From Long Term Equity Funds
• 58 Billion Reason Why Americans Thinks Their Stock Market Sucks!
• Americans Pulled USD 53.279 Billion Out Of The Equity Markets
• Stocks Rally And US Equity Investors Rallied To Get Out Of the Equity Markets
• Main Street Telling Wall Street That The Equity Markets Stinks!
• Stocks Are Flying To The Orbit But Investors Keeps Cashing Out!
• Since 28th April 2010, Americans Pulled USD 42.116 Billion Out From Equities!
• more here

It has been a real long time since I blogged on the Baltic Dry Index.

The BDI last closed at 1830!

It's now to happening.

Some recent commentary:

• The dry bulk market isn’t exhibiting a “festive” behavior, thus cheering ship owners and investors alike. Instead, the industry’s benchmark has been falling this week, with the Baltic Dry Index (BDI) retreating yesterday to 1,886 points, close to its 2010 lowest. Both the capesize and the panamax segments were among the main losing sectors yesterday. During the course of the previous week, the Baltic Capesize Index managed to put a halt in its demise, by posting a marginal increase of 1% on a weekly basis. According to a weekly report from shipbroker Barry Rogliano Salles (BRS), the improvement was mainly due to a surge in demand from the big miners in the Pacific in the later part of the week. However the Capesize 4TC is now hovering around US$25,000 per day, the lowest point since the summer and well down on the average for the year. In India, Karnataka ore sellers will have to wait until mid January to hear a decision on their bid to overturn the state’s export ban. This week India’s top court gave the state additional time to respond to the miners’ legal petition. The Federation of Indian Mineral Industries has already estimated the ban will reduce India’s ore exports by 38% to 66m tons in 2010. The Karnataka High Court earlier upheld the provincial government’s decision to halt shipments overseas” said BRS. (source: here )

Shipping stocks fall...

• Shipping stocks on the Indian bourses have lost between 11 and 23 per cent in the last one month as Baltic Dry index slumped to a four-month low. Overcapacity because of new vessels and expectation of fleet additions plunged the Baltic Dry Index, barometer of shipping business, to a four-month low of 1,955 points, down 2.2 per cent (44 points) from its previous close. (source: here )

Excess blamed...

• The Baltic Dry Index, a measure of commodity-shipping costs, fell to the lowest level in more than four months on a surplus of ships.
  
  The index declined 19 points, or 0.9 percent, to 2,076 today, according to data from the Baltic Exchange in London. That’s the lowest since Aug. 6. Declines were led by rates to hire capsesize ships, the biggest in the gauge. They fell 2.1 percent to $24,852 a day.
  
  “The dry bulk market is showing no signs of improvement,” Shalini Shekhawat, a Gurgaon, India-based analyst at Drewry Shipping Consultants Ltd., wrote in a report. “The remainder of the year will be no better, with iron ore and grain trade being insufficient to absorb the over-supply of tonnage in the market.”
  
  Shipping rates have fallen 31 percent this year as new vessels entered the fleet. Capesizes will expand 24 percent in 2010, driving overall dry-bulk fleet growth of 17 percent, Clarkson Plc, the world’s largest shipbroker, estimates. Demand will grow 10 percent over the same time, Clarkson said. Capesizes mostly carry iron ore, used to make steel.
  
  Source: here

Past postings on BDI: here

It's now 33 straight weeks that Americans have withdrawn money out from their stock equity funds.

And what do you get?

Just more than 100 Billion during this period.



Past postings:

• It's 30 Consecutive Weeks Of Fund Outflows
• Another Week, Another Outflow
• More Fund Outflows Seen
• Equity Fund Sellers: They Are Baaaaack! 87 Billion Redeemed
• Equity Fund Outflows Shrinks Once Again
• Smallest Outflow Seen In Equity Funds
• Shh.. Remember The Market Is Getting So Hot...Let's Not Mention The Fund Outflows
• Shh.. Market's Going Higher, Let's Not Mention The Fund Flows Or Better Still Let's .....
• 20 Consecutive Weeks Of Fund Outflows And 71 Billion Withdrawn From Equity Funds
• More Money Redeemed From Equity Mutual Funds65 Billion Outflow From Long Term Equity Funds
• 58 Billion Reason Why Americans Thinks Their Stock Market Sucks!
• Americans Pulled USD 53.279 Billion Out Of The Equity Markets
• Stocks Rally And US Equity Investors Rallied To Get Out Of the Equity Markets
• Main Street Telling Wall Street That The Equity Markets Stinks!
• Stocks Are Flying To The Orbit But Investors Keeps Cashing Out!
• Since 28th April 2010, Americans Pulled USD 42.116 Billion Out From Equities!
• more here

Got the following set of comments.

• neno said
  
  dali called to buy jcy @1.60, proof here >
  
  http://malaysiafinance.blogspot.com/2010/02/jcys-new-pricing.html
  
  Darlie singh call buy on JCY @ 1.60 :-
  Thursday, February 11, 2010
  JCY's New Pricing
  
  JCY looks likely to slash its IPO price to RM1.60 from an earlier indicative RM2.00. At RM1.60, its a good price level to get in. I still think its fair value is at RM1.80. Enough said.
  Posted by Salvatore_Dali at 1:41 PM
  Labels: JCY, Rannes Man

Hmmm....

Dear neno or whoever you are ( yes, it's so easy to create a name many times and post countless 'comments') .

Darlie Singh???? ( Hmmm.... where have I heard this name before? Where ah?)

Take a good look at yourself. Are you proud of what you are doing here? Name callings at other blogs? Don't you have any class at all? Or perhaps you are simply rude? Tsk! Tsk! Tsk!

So apparently JCY has gone down.

Yeah... so what?

Does Dali owe you anything all? Does he get paid by for what he blogs? Are you paying him for any investment advice? Did he point a gun to you and force you to buy whatever he posts?

So Dali blogs a posting and the stock tanks.

Yeah.. naughty and bad Dali for blogging such a stock.

But wait just a minute.

Why on earth are you dragging that posting to this blog of mine?

Do I owe you anything?

Does my blog look like a complaint department?

Yeah... get burned in a stock by following what's written on a blog posting and just forward all your grumblings and rantings here?

WTF?

Grow up lah and be a real man.

The stock is having a fantastic run. Perhaps fantastic is an understatement. :=)

And guess what?

The local press decides to jump on the bandwagon to spice up the stock.

Err... sometimes don't you wonder about our press?

Yeah.. what's their objective?

To spice up the stock market? To add fuel to the stock? Yeah, 'kar yau' babe!

Let's send the stock to the up and beyond. :=)

Yeah, babe. I buy the local business newspaper because I want to find out which stock will be stir fried ala Paul style babe!

You be the judge. On Business Times:

• Syed Mokhtar mulls DRB-HICOM buyout
  
  By Francis Fernandez Published: 2010/12/09
  
  Tan Sri Syed Mokhtar Al Bukhary is believed to be considering taking auto and banking group DRB-HICOM Bhd (1619) private, people familiar with the plan said yesterday.
  
  It is further believed that the tycoon is being advised by Maybank Investment Bank Bhd on the plan which could cost him close to RM2 billion.
  
  Sources said the offer will be comparable to DRB-HICOM's net tangible asset (NTA) value. As at end of September this year, DRB's NTA stood at RM2.50.
  
  There has been speculation that Syed Mokhtar could offer anywhere between RM2.20 and RM2.70 for the DRB-HICOM shares he does not own.
  
  As at July 21 this year, Syed Mokhtar holds a controlling 55.92 per cent of DRB-HICOM, via privately held Etika Strategi Sdn Bhd.
  
  "The plan is being considered, but a firm decision has yet to be made," said the source. DRB-HICOM's group managing director Datuk Mohd Khamil Jamil declined to comment.
  
  DRB-HICOM's stock closed 11 per cent higher at RM1.70 yesterday, giving the group a market value of RM3.3 billion. It was also its highest close in 52 weeks.
  
  The stock has gained 68 per cent so far this year, much better than the broader market's 19 per cent gain in the same period.
  
  Mohd Khamil has been instrumental in changing DRB-HICOM's fortunes over the past couple of years. His cost-cutting measures have kept the conglomerate keep a keen focus on its bottom line. The group nearly doubled its revenue over the past five years to RM6.31 billion in 2010 from RM3.52 billion in 2006.
  
  After suffering a pre-tax loss of RM196.74 million in 2006, Mohd Khamil, a close confidant of Syed Mokhtar, has steadied the ship, helping the group post four years of healthy profits.
  
  In the financial year ended March 31 2010, DRB-HICOM posted a pre-tax profit of RM657.89 million.
  
  For the six months ended September 30 in the current financial year, its pre-tax profit stood at RM409.64 million, more than two times its pre-tax profit of RM163.65 million in the same period a year ago.
  
  DRB-HICOM assembles foreign marques like Mercedes Benz, Honda and Suzuki but it also has steady income from its Islamic bank, insurance and power plant maintenance business.
  It is also building up its property business in the Klang Valley and Johor.
  
  As for its motor vehicle business, DRB-HICOM aims to sign a definitive agreement with Volkswagen AG (VW) this month.
  
  VW had in August signed a memorandum of understanding with DRB-HICOM to produce VW cars from 2012 at the group's plant in Pekan, Pahang.
  
  Eventually, the deal may include the export of VW cars to Asean countries, among other things.
  
  Read more: Syed Mokhtar mulls DRB-HICOM buyout http://www.btimes.com.my/Current_News/BTIMES/articles/darbo8/Article/#ixzz17ZVnhODh

London Biscuits reported its earnings recently and according to the management, the performance was within expectations.

• The Group achieved a profit before income tax after minority interest of RM6.715 million on the back of RM56,922 million in turnover, as compared with the profit before income tax after minority interest of RM3.516 million and a turnover of RM46.656 million, respectively, reported in the preceding year corresponding quarter. The Group’s result is within management’s expectation.

London Biscuit was blogged several times before. See London Biscuits. Here's the updated numbers.

Looking decent but the issues mentioned before, still persist.

The balance sheet issue mentioned in the posting Review Of London Biscuit and Regarding London Biscuits Borrowings

• Yes, that's London Biscuit's balance sheet and seriously, from my flawed point of view, I really think it's awful!
  
  That's no way how one would grow a business. I know I wouldn't if the business was mine!

Here's the updated numbers. Look at the spike in debts and receivables. Cash increased due to bank overdrafts.

In regards to its 'investing activities' mentioned in the posting Review Of London Biscuit and I guess one should not forget how London Biscuit 'shot' itself in the foot via its investment in Lay Hong, London Biscuits Disposal Of Its Stake In Lay Hong


And in regards to the Property, Plant and Equipment (PPE) issue mentioned in the posting Regarding London Biscuits Again. In that posting, in my flawed opinion, I felt that 'the company is wheeling and dealing in PPE (Property, Plant and Equipment)!!!'

Well, London Biscuit now only reports a summarised cash flow statement in its quarterly earnings. So sadly, one has to wait for the annual report.