Najib to make major announcements

Prime Minister Datuk Najib Razak will make “significant announcements” related to his plans to ease restrictions on foreign investment. The announcements after a review of the Foreign Investment Committee (FIC) guidelines will be made in a speech during the Invest Malaysia conference in Kuala Lumpur on June 30 and July 1.

Dubai's Damac pulls out of RM396.4m land deal with UEM Land

KUALA LUMPUR: Damac Properties (Malaysia) Sdn Bhd, which is part of Dubai’s Damac Group, has withdrawn from its proposed RM396.44 million land deal with UEM Land Bhd’s unit UEM Land Holdings Bhd.

UEM Land said on June 17 that it was notified by Damac stating that it was not agreeable to further extension of the extended approval period.

“Pursuant thereto, UEM Land Holdings Bhd wishes to announce that the sales and purchase agreement (SPA) in relation to the proposed disposal has lapsed and is of no further effect whatsoever,” it said.

The agreement was signed on June 12 last year. It involved UEM Land disposing of 43.54 acres of land in Puteri Harbour, Nusajaya to Damac for cash consideration of RM396.44 million.

The proposed acquisition, if it had gone through, would have resulted in the development of an integrated waterfront development consisting of residential, commercial, retail, dining and leisure facilities.

New FBM30 CI

BCHB . Sime . PBank . Maybank . Tenaga . IOI corp . Genting . Axiata . MISC . Resort TM . AMMB . DIGI . PPB . KLK . BAT . PLUS . Petronas Gas . YTL Corp . YTL Power . BJTOTO UMW . HLBank . Tanjong . MMC Corp . Astro . Parkson . Petronas Dagangan . RHBCap . MAS

Start from 6 July 2009.

Elliott Wave Theory

Elliott Wave Theory interprets market actions in terms of recurrent price structures obedient to the Fibonacci sequence. Basically, Market cycles are composed of two major types of Wave : Impulse Wave and Corrective Wave. For every impulse wave, it can be sub-divided into 5 - wave structure (1-2-3-4-5), while for corrective wave, it can be sub-divided into 3 - wave structures (a-b-c).

Bursa cautions investors on Measat, Transmile

KUALA LUMPUR: Bursa Malaysia has advised investors to exercise caution and due diligence on the trading of Measat Global Bhd and Transmile Group Bhd.

In a statement June 10, Bursa drew investors' attention to the continuing rising price and strong trading interest in the securities of Measat and Transmile, following the companies' response to the unusual market activity (UMA) queries from Bursa Malaysia dated June 4 and 5 respectively.

It said Measat responded that the directors were not aware of any rumour or report concerning the business and affairs of the group and there was no material development other than preparation made by the company's wholly owned subsidiary, MEASAT Satellite Systems Sdn Bhd to launch the MEASAT- 3a satellite this month.

Transmile replied to the query also stating that the directors of the company were not aware of any rumour, report or material developments relating to the business and affairs of the group, said Bursa.

"Given the lack of material development based on the above response from the respective companies, Bursa Malaysia would like to advise investors to exercise caution and due diligence on the trading of Measat and Transmile securities," it said.

"The Exchange would also like to draw investors' attention to the high trading interest on some counters of late, which were not supported by new or material corporate developments."

Bursa Malaysia advised investors to be aware of the possible risks involved when making investment decisions based solely on market rumours and reminded them to exercise due care and diligence.

Bursa Malaysia said it was fully committed to ensure that the market operates in a fair and orderly manner, and has market surveillance tools and systems in place to monitor real-time trading activities and price movements.

"The Exchange will not hesitate to take appropriate regulatory action where necessary," it said.

World Market Outlook

The Storm Rain is coming soon........

1. Federal Reserve cut its forecast for the U.S. economy.
2. Former Fed Chairman Alan Greenspan said banks are still in peril, warned U.S.
banks will need to raise “large” amounts of money and “we still have a very serious
potential mortgage crisis.”
3. Standard & Poor’s cut the U.K.’s AAA rating to “negative” from “stable” for the first
time.
4. Participants generally expected that strains in credit markets and in the banking
system would ebb slowly, and hence the pace of recovery would continue to be
damped in 2010.
5. The global economy’s “free fall” may have ended, which could in turn hurt the U.S.
dollar, Nobel Prize-winning economist Paul Krugman said.
6. “I view the Chinese agitation about a new currency as basically an attempt to have
somebody rescue them from their own investment decision,” Krugman said.
“China bought too many dollars. Now it’s looking at it and saying, ‘we’re going to
lose a lot of money on this investment’.”

Believe it or Not ??!!

Don't miss this opportunity again !!

Do you still want to re-enter into this level of market ?

What Pullback? Stock Rally Still Has Legs, Strategists Believe.
Stock strategists are still seeing up arrows when it comes to this market.

One of the hottest debates on the Street these past three or four weeks is how much further the bull can run before it runs out of steam.

Many traders believe a pullback is inevitable and for some, this week is as good as any for that to happen, given recent low volume of trading.

But several strategists say in notes that they see stocks still moving higher. Citigroup's stock strategist Tobias Levkovich warns the market's naysayers could be proven wrong, and this could be an above average bear market rally.

Also, a higher stock market could also boost consumer confidence. For that reason, the market has a good chance of seeing a better-than-average bear market rally.

The average one-year bear market rally off of the bottom has risen more than 43 percent and it's likely, there is still room to go higher. Another factor is that there are lots of investors who missed the moves and are sitting with large cash hordes.

If Economic recover early this year, will drive up all commodities !!!

Because this year all the Countries will less stock in-house for all the commodities, like Palm Oil, Soyabean, Corn and etc.