Archive for July, 2010

Petronas Dagangan

Friday, July 23rd, 2010

I’ve been holding Petronas Dagangan Bhd (PETDAG) shares for a few years now. PETDAG has been a stable performer in my portfolio. While it has not shot up as much as other Bursa Malaysia blue chip stocks over the last year, it also didn’t drop as much during the October 2008 market crash.

Seeing that it is going ex-dividend in early August, I decided to buy a few more shares. Much of Petronas Dagangan business is captive business. I believe it has a strong defensive “moat”, the type that Warren Buffett would be pleased with.

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Sunway REIT lists on Bursa Malaysia

Thursday, July 8th, 2010

Sunway REIT finally made its debut on Bursa Malaysia today, taking its position as the largest REIT on the local bourse. At its closing price of 88.5 sen, it’s market cap stands at RM2.37 billion, eclipsing YTL’s Starhill REIT which held the top position previously. Here are the properties (and respective valuations)  that have gone into SUNREIT:

Retail Properties
Sunway Pyramid Shopping Mall RM2.3 billion (more…)

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Genting Malaysia

Friday, July 2nd, 2010

Looks like another controversy for Genting Group.

Its cash cow Genting Malaysia Berhad (previously Resorts World) saw almost RM1 billion wiped off its market value today as it announced the proposed acquisition of Genting Singapore PLC’s UK casino businesses for RM340 million. When will all the inter company and related party type transactions ever end?

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Malaysian Banking Sector

Friday, July 2nd, 2010

The Bursa Malaysia Finance Sector currently comprises many types of financial companies which include not just banks, but also insurance companies, stock broking companies and other finanial related companies.

To make the analysis purer, we have just created a table which shows the Malaysian banking stocks by themselves. You can view it here:

http://sharesmyway.com/blog/sector-summary-table/

As you can see, our banks have a total market value of around RM195 billion, equating to around 20 times current earnings which are not that cheap. But the analysis is distorted by heavyweights MAYBANK and CIMB which are on higher earnings. Also bank earnings are on a trajectory currently and the broader sector PE should be around 12-13x forward PE.

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