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EPF members can buy unit trust with up to 30% foreign portfolio from August
2010-06-04 01:09:00
KUALA LUMPUR: Effective Aug 1, funds that have higher consistent returns for at least three years and those with a foreign portfolio component of up to 30% would be made available for sale to Employees Provident Fund (EPF) members.This meant that funds with less than three years track record and newly launched ones would not be sold to EPF members.Federation of Investment Managers Malaysia (FIMM) president Tunku Ya’acob Tunku Abdullah said the move would further instill trust and confidence in unit trust investment and enhance investment options.To achieve the above objective, FIMM would introduce a performance focus methodology to measure funds under the EPF Members Investment Scheme annually."Funds that consistently have higher performance relative to its peers in the same category wil
2010-06-04 01:09:00
KUALA LUMPUR: Effective Aug 1, funds that have higher consistent returns for at least three years and those with a foreign portfolio component of up to 30% would be made available for sale to Employees Provident Fund (EPF) members.This meant that funds with less than three years track record and newly launched ones would not be sold to EPF members.Federation of Investment Managers Malaysia (FIMM) president Tunku Ya’acob Tunku Abdullah said the move would further instill trust and confidence in unit trust investment and enhance investment options.To achieve the above objective, FIMM would introduce a performance focus methodology to measure funds under the EPF Members Investment Scheme annually."Funds that consistently have higher performance relative to its peers in the same category wil
Malaysia's dollar sukuk rises on debut
2010-05-28 22:01:00
Malaysia's latest issue of five-year global bonds advanced on their first day of trading after yesterday's sale attracted orders for more than five times the US$1 billion (RM3.3 billion) originally sought.The Islamic notes due June 2015 yielded 3.87 per cent early yesterday in Hong Kong, six basis points less than the 3.93 per cent the securities were priced at in yesterday's sale, according to data provided by Barclays plc, one of the deal's three arrangers. That's 171 basis points more than similar-maturity US Treasuries, nine basis points less than when the bonds were sold."Malaysia is oil-rich, the fundamentals are solid and they don't have funding needs," Paul Chan, the Hong Kong-based chief investment officer at Invesco Asia Ltd, said before the sale. "There will be scarcity value in
2010-05-28 22:01:00
Malaysia's latest issue of five-year global bonds advanced on their first day of trading after yesterday's sale attracted orders for more than five times the US$1 billion (RM3.3 billion) originally sought.The Islamic notes due June 2015 yielded 3.87 per cent early yesterday in Hong Kong, six basis points less than the 3.93 per cent the securities were priced at in yesterday's sale, according to data provided by Barclays plc, one of the deal's three arrangers. That's 171 basis points more than similar-maturity US Treasuries, nine basis points less than when the bonds were sold."Malaysia is oil-rich, the fundamentals are solid and they don't have funding needs," Paul Chan, the Hong Kong-based chief investment officer at Invesco Asia Ltd, said before the sale. "There will be scarcity value in
FBM KLCI closes at six-month low
2010-05-25 05:57:00
SHARE prices on Bursa Malaysia extended their losses today on continuous selling mainly in key blue chips and banking-related stocks, dealers said.The benchmark FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) fell as much as 25.84 points amid rising concerns that Europe's debt crisis may spread and over reports of North Korea readying its military for a possible confrontation with South Korea over the sinking of a warship.At 5pm, the FBM KLCI lost 23.56 points or 1.85 per cent to close at 1,250.13, off it intraday low of 1,247.85. It had opened 8.72 points lower at 1,264.97.OSK Research said the fragile sentiment in the near term was likely to drive extended volatility in the market with the index possibly attempting to consolidate after the sharp losses over the past week wit
2010-05-25 05:57:00
SHARE prices on Bursa Malaysia extended their losses today on continuous selling mainly in key blue chips and banking-related stocks, dealers said.The benchmark FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) fell as much as 25.84 points amid rising concerns that Europe's debt crisis may spread and over reports of North Korea readying its military for a possible confrontation with South Korea over the sinking of a warship.At 5pm, the FBM KLCI lost 23.56 points or 1.85 per cent to close at 1,250.13, off it intraday low of 1,247.85. It had opened 8.72 points lower at 1,264.97.OSK Research said the fragile sentiment in the near term was likely to drive extended volatility in the market with the index possibly attempting to consolidate after the sharp losses over the past week wit
EPF investments poised to hit RM500bil
2010-05-20 03:43:00
KUALA LUMPUR: The Employees Provident Fund (EPF) expects its investments to reach RM500bil by end-2013, said deputy chief executive officer (investment) Shahril Ridza Ridzuan. He said the fund's investments stood at RM385bil in the first quarter of this year compared with just RM9bil in 1980. The EPF has over RM370bil in funds. “We are chalking up about 8% compounded annual average growth now and by this, we expect our investments will be RM500bil by the end of 2013,” he said yesterday at a media briefing and media launch of EPF corporate governance principles and voting guidelines. “There are two things that support the 8% annual growth. One is that when we pay dividends, we don't pay in cash but credit the amount into investors' accounts and reinvest,” he said. The other, he said
2010-05-20 03:43:00
KUALA LUMPUR: The Employees Provident Fund (EPF) expects its investments to reach RM500bil by end-2013, said deputy chief executive officer (investment) Shahril Ridza Ridzuan. He said the fund's investments stood at RM385bil in the first quarter of this year compared with just RM9bil in 1980. The EPF has over RM370bil in funds. “We are chalking up about 8% compounded annual average growth now and by this, we expect our investments will be RM500bil by the end of 2013,” he said yesterday at a media briefing and media launch of EPF corporate governance principles and voting guidelines. “There are two things that support the 8% annual growth. One is that when we pay dividends, we don't pay in cash but credit the amount into investors' accounts and reinvest,” he said. The other, he said
South Korea says North torpedoed ship as tensions rise
2010-05-20 02:55:00
SEOUL (Reuters) – South Korea accused the reclusive North on Thursday of torpedoing one of its warships, heightening tension in the economically powerful region and testing the international position of China, Pyongyang's only major backer. South Korea said it would take "firm" measures against its impoverished neighbor, which furiously responded that it was ready for war if Seoul or its allies imposed sanctions. A report by investigators, including experts from the United States, Australia, Britain and Sweden, concluded that a North Korean submarine had fired the torpedo which sank the Cheonan corvette in March, killing 46 sailors. "There is no other plausible explanation," their report said. Financial markets in Seoul
2010-05-20 02:55:00
SEOUL (Reuters) – South Korea accused the reclusive North on Thursday of torpedoing one of its warships, heightening tension in the economically powerful region and testing the international position of China, Pyongyang's only major backer. South Korea said it would take "firm" measures against its impoverished neighbor, which furiously responded that it was ready for war if Seoul or its allies imposed sanctions. A report by investigators, including experts from the United States, Australia, Britain and Sweden, concluded that a North Korean submarine had fired the torpedo which sank the Cheonan corvette in March, killing 46 sailors. "There is no other plausible explanation," their report said. Financial markets in Seoul
Malaysia to sell RM3.2bil global sukuk
2010-05-18 19:41:00
KUALA LUMPUR: Malaysia will offer around US$1bil in a global sukuk issue to investors from Wednesday, its first international debt sale since 2002, two sources familiar with the planned issue told Reuters. The sources said the Government was targeting about US$1bil (RM3.2bil) for the bond that would be entirely sukuk and would be launched at an Islamic economic forum. Lead managers for the deal are CIMB and HSBC. CIMB declined to comment while HSBC was not immediately available. “(The government) is targeting about US$1bil,” one of the sources familiar with the deal told Reuters, adding that there would be a global roadshow for the paper. The sale comes as global credit markets grapple with worries of another crisis after the recent sell-off sparked by credit worries in Europe. Malaysi
2010-05-18 19:41:00
KUALA LUMPUR: Malaysia will offer around US$1bil in a global sukuk issue to investors from Wednesday, its first international debt sale since 2002, two sources familiar with the planned issue told Reuters. The sources said the Government was targeting about US$1bil (RM3.2bil) for the bond that would be entirely sukuk and would be launched at an Islamic economic forum. Lead managers for the deal are CIMB and HSBC. CIMB declined to comment while HSBC was not immediately available. “(The government) is targeting about US$1bil,” one of the sources familiar with the deal told Reuters, adding that there would be a global roadshow for the paper. The sale comes as global credit markets grapple with worries of another crisis after the recent sell-off sparked by credit worries in Europe. Malaysi
Market Crash Forecast 2010
2010-05-07 01:11:00
Bob Chapman First 6 months of 2010, Americans will continue to live in the 'unreality'...the period between July and October is when the financial fireworks will begin. The Fed will act unilaterally for its own survival irrespective of any political implications ...(source is from insider at FED meetings). In the last quarter of the year we could even see Martial law, which is more likely for the first 6 months of 2011. The FDIC will collapse in September 2010. Commercial real estate is set to implode in 2010. Wall Street believes there is a 100% chance of crash in bond market, especially municipals sometime during 2010. The dollar will be devalued by the end of 2010. Gerald Celente Terrorist attacks and the "Crash of 2010". 40% devaluation at first = the greatest depression, worse than t
2010-05-07 01:11:00
Bob Chapman First 6 months of 2010, Americans will continue to live in the 'unreality'...the period between July and October is when the financial fireworks will begin. The Fed will act unilaterally for its own survival irrespective of any political implications ...(source is from insider at FED meetings). In the last quarter of the year we could even see Martial law, which is more likely for the first 6 months of 2011. The FDIC will collapse in September 2010. Commercial real estate is set to implode in 2010. Wall Street believes there is a 100% chance of crash in bond market, especially municipals sometime during 2010. The dollar will be devalued by the end of 2010. Gerald Celente Terrorist attacks and the "Crash of 2010". 40% devaluation at first = the greatest depression, worse than t
Greece Gets $146 Billion Rescue on EU, IMF Austerity Package
2010-05-02 23:08:00
By Gabi Thesing and Flavia Krause-Jackson May 3 (Bloomberg) -- Euro-region ministers agreed to a 110 billion-euro ($146 billion) rescue package for Greece to prevent a default and stop the worst crisis in the currency’s 11-year history from spreading through the rest of the bloc. The first payment will be made before Greece’s next bond redemption on May 19, said Jean-Claude Juncker after chairing a meeting of euro-region finance ministers in Brussels yesterday. The 16-nation bloc will pay 80 billion euros at a rate of around 5 percent and the International Monetary Fund contributes the rest. Greece agreed to budget measures worth 13 percent of gross domestic product. “It’s an ambitious program, it’s austere but it’s absolutely necessary,” Juncker t
2010-05-02 23:08:00
By Gabi Thesing and Flavia Krause-Jackson May 3 (Bloomberg) -- Euro-region ministers agreed to a 110 billion-euro ($146 billion) rescue package for Greece to prevent a default and stop the worst crisis in the currency’s 11-year history from spreading through the rest of the bloc. The first payment will be made before Greece’s next bond redemption on May 19, said Jean-Claude Juncker after chairing a meeting of euro-region finance ministers in Brussels yesterday. The 16-nation bloc will pay 80 billion euros at a rate of around 5 percent and the International Monetary Fund contributes the rest. Greece agreed to budget measures worth 13 percent of gross domestic product. “It’s an ambitious program, it’s austere but it’s absolutely necessary,” Juncker t
Hussman: Overvalued Stocks In for a Painful Correction
2010-04-22 21:53:00
Wednesday, 21 Apr 2010 10:34 AM By: Julie Crawshaw Economist John Hussman says stocks are seriously overvalued and that they are poised for a painful correction.Hussman says that, at current valuations, the S&P 500 is priced to deliver a total return of only about 5.7 percent annually over the coming decade.But, because stocks are seriously overvalued now, returns will probably be 2.97 percent once the market corrects itself."Wholly on the basis of current valuations, stocks are priced to deliver unsatisfactory returns in the coming years — a situation that is worsened by strenuous overbought conditions and upward yield pressures here," Hussman writes in a no
2010-04-22 21:53:00
Wednesday, 21 Apr 2010 10:34 AM By: Julie Crawshaw Economist John Hussman says stocks are seriously overvalued and that they are poised for a painful correction.Hussman says that, at current valuations, the S&P 500 is priced to deliver a total return of only about 5.7 percent annually over the coming decade.But, because stocks are seriously overvalued now, returns will probably be 2.97 percent once the market corrects itself."Wholly on the basis of current valuations, stocks are priced to deliver unsatisfactory returns in the coming years — a situation that is worsened by strenuous overbought conditions and upward yield pressures here," Hussman writes in a no
Bob Farrell : 10 rules for investing
2010-04-22 21:47:00
Today, I would again like to focus on words of investment wisdom that are timeless and especially appropriate as investors grapple with the difficult juncture at which stock markets find themselves at this stage. Wall Street “gurus” come and go, but in the case of Bob Farrell legendary status was achieved. He spent several decades as chief stock market analyst at Merrill Lynch & Co. and had a front-row seat at the go-go markets of the late 1960s, mid-1980s and late 1990s, the brutal bear market of 1973-74, and the October 1987 crash. Farrell retired in 1992, but his famous “10 Market Rules to Remember” have lived on and are summarized below, courtesy of The Big Picture (August 2008) and MarketWatch (June 2008). 1. Markets tend to return to the mean over timeWhen stocks go too f
2010-04-22 21:47:00
Today, I would again like to focus on words of investment wisdom that are timeless and especially appropriate as investors grapple with the difficult juncture at which stock markets find themselves at this stage. Wall Street “gurus” come and go, but in the case of Bob Farrell legendary status was achieved. He spent several decades as chief stock market analyst at Merrill Lynch & Co. and had a front-row seat at the go-go markets of the late 1960s, mid-1980s and late 1990s, the brutal bear market of 1973-74, and the October 1987 crash. Farrell retired in 1992, but his famous “10 Market Rules to Remember” have lived on and are summarized below, courtesy of The Big Picture (August 2008) and MarketWatch (June 2008). 1. Markets tend to return to the mean over timeWhen stocks go too f