MUFG substantial shareholder in Public Bank

KUALA LUMPUR: Mitsubishi UFJ Financial Group, Inc. (MUFG) has emerged as a substantial shareholder in Public Bank with an indirect stake of 5.002%.

A filing with Bursa Malaysia on Thursday showed the stake accounted for 193.15 million shares as at Oct 21.

MUFG is deemed interest in the shares via its stakes in its units and also via a 15% stake in Morgan Stanley Group.

Public Bank, which has a paid-up of 3.861 billion shares, shed two sen to RM18.16 at midday.

Its largest shareholder is Consolidated Teh Holdings Sdn Bhd with 840.13 million shares followed by the Employees Provident Fund with 601.18 million shares.

Ringgit opens lower versus US$

KUALA LUMPUR: The ringgit opened lower against the US dollar on Thursday as the greenback firmed after the Federal Reserve open market committee's statement  raised expectations of an interest hike in December this year, dealers said.

At 9.06am, the local unit was quoted at 4.2920/3010 against the dollar from Wednesday's 4.2670/2770.

The ringgit was also lower against other major currencies except for the British pound.

It was down versus the yen to 3.5550/5640 from 3.5437/5535 on Wednesday, slid against the Singapore dollar to 3.0589/0671 from 3.0537/0631 and declined vis-a-vis the pound sterling to 6.5505/5668 from 6.5272/5442 yesterday.

The local note appreciated against the euro to 4.6813/6928 from 4.7125/7239  on Tuesday. - Bernama

Perhaps buying into property counter would benefit in the long run?

While the property market still pose no optimistic, perhaps buying into property counter would benefit in the long run as some of it has dropped below the fair value of the company(buy when others are fearful?). Somehow, take a look at these posted few days back L&G & GOB. Both have significantly increased for the pass few days(less than a month). 

Even fund manager are started to looking into this sector currently... Top fund buys property stocks at ‘bargain’ prices

Look's like is time to do some research in property counters :)

Today USD vs MYR

non-stop dropping... :(
when will be the end?

Days after the RM20bil donkey show

Just about a week after the fund of RM20bil announced to save the day. However, the market somehow behaved unexpectedly when everyone still enjoying the ride back above 168X. KLCI has been consecutively dropped for the pass few days and MYR weaken to 4.33+ against USD. Besides, the foreign fund were also found retreating...

Up until now, we never hear of any news from the ValueCap but merely based on own imagination. Many so called GLC related counters were already rebound for more than 20% within days after the announcement. But things seems to be so abstract as no one know where it gone. @.@a

Well, stock market really is a place full of excitement. It can climb up few hundred points up because of some "news" and also can back to square within days. Somehow questions still remained blurred, where and when this RM20bil be rolling out? Donkey show were about to be over and it's time for the real call. Show time's coming, either it is a bull or a bear? we shall see... enjoy it...

Hope you enjoy reading, good luck and to be continued...

Still learning and always will be :)

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When can Ringgit back from the "death"?

One thing we are so sure for dragging down the Ringgit Malaysia are those scandals related to 1MDB(not to blame the global sentimental yet). The BNM Governor has been so quite since every rotten apples being discovered day by day. Really glad THEY have started to voice out for the good of the country. She is right that the people deserve to know what is really happening. Well, how long this 1MDB being questioned or investigated? Until now we have no clear answer about it! What is so difficult by just showing how the company's transaction flows? The PM should play an important role as he chairs the fund's advisory board. Don't just delay answering or giving excuses as require more time to do investigation. Do let others to help if you not able to do it, many out there are willing to lean a helping hand... 

Back to the subject! When can Ringgit back from the "death"? Easy, stand out and clear your name.

Looking forward to this...

Time for a popcorn!!!

• Malaysia PM involved in U.S. corruption inquiry - NYT >Source<
• Why will Nuts feel disappointed? just shut up and work like a dog...
• The world is watching

Hope you enjoy reading, good luck and to be continued...

Still learning and always will be :)

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