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3 Responses to “FREE Market Outlook 2010 Seminar | Jupiter Securities”

1. alan on January 25th, 2010 at 10:13 pm

   Brokerages plan tie-up

   HK’s Taifook, Jupiter to offer mutual info and investments
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   HONG KONG: Taifook Securities Group Ltd, the largest local stockbroker in Hong Kong with a market capitalisation of HK$5.17bil, is working on a tie-up with Jupiter Securities Sdn Bhd for mutual information and investments on the Hong Kong, China and Malaysian stock markets.

   “Eventually, we hope to bring some of our Chinese clients to invest in Malaysia,’’ Taifook On-Line Services Ltd executive director Nelson Ying told StarBiz.

   “We are now in the process of setting up the platform to enable Taifook clients to buy Malaysian stocks. It’s a matter of sorting out the technicalities,” he said.

   Taifook On-Line Services is a unit of Taifook, the newly acquired unit of China’s second-largest listed brokerage by market value, Haitong (HK) Financial Holdings Ltd. Following the acquisition, Taifook saw its clientele base expand from 130,000 to over four million from mainland China.

   This move to partner Jupiter makes Taifook the first Hong Kong broker to set up shop directly in Malaysia.

   Jupiter executive director Tan Chee Siong said: “This tie-up will see Jupiter gaining a new source of income, apart from increasing its clientele base which at present comprises about 10,000 accounts.’’

   While it is still loss-making, Jupiter, which is 77.5%-owned by Olympia Holdings Bhd, is looking to turn around in financial year 2011.

   With the depth of products being offered in the Hong Kong market, Jupiter may also be able to smoothen out its Malaysian market brokerage earnings, which is at present very seasonal.

   “We have about 200 analysts in Hong Kong and China. We are committed to bringing more information on the China market to the Malaysian public,” said Ying.

   Haitong, which bought Taifook for US$235mil last November as part its expansion outside mainland China, has been on an acquisition spree.

   Its next phase of expansion is into South-East Asian countries such as Indonesia, Malaysia and Thailand.

   Taifook is now awaiting approval to be rebranded as Haitong International.

   fr:biz.thestar.com.my/news/story.asp?file=/2010/1/25/business/5523563&sec=business

2. alan on February 7th, 2010 at 11:37 am

   Poh Kong Cautiously Optimistic Of Business Outlook For Fy2010

   KUALA LUMPUR, Jan 20 (Bernama) — Poh Kong Holdings Bhd, the country’s largest retail jewellery chain, is cautiously optimistic of its business outlook for 2010 financial year.

   Executive chairman/group managing director, Datuk Choon Yee Seiong, said expectations of positive economic growth this year would drive the group to achieve stronger financial results.

   He said Poh Kong would open a new outlet in Melaka next month and in Cheras within the next few months.

   “Currently, Poh Kong has a 95 retail outlets nationwide. We will identify strategic locations for outlets across the country which have the potential for higher revenue growth and consumer demand,” he told a media briefing after the company’s annual general meeting here Wednesday.

   For financial year ended July 31, 2009, Poh Kong’s revenue increased to RM541.6 million from RM509.3 million in 2008.

   Net profit, however, fell to RM28.42 million from RM28.76 million previously.

   Choon said the lower net profit was because the company has to buy the gold at higher prices which affected its margins and the costs involved in the opening of new outlets.

   He said the group planned to diversify and differentiate its products through newly-opened outlets and retail concept stores, such as Diamond Boutique, Diamond & Gold, Jade Gallery, Poh Kong Gallery, Oro Bianco white gold, Tranz and Schoeffel.

   The board of directors has recommended a first and final dividend of 1.40 sen for the financial year ended July 31, 2009.

   Choon said the group has no dividend policy and payment would depend on the profitability of company.

   Meanwhile, independent non-executive director, Fazrin Azwar Md Nor, said Poh Kong has been constantly paying dividends.

   “While we do not have a dividend policy, we have a policy to reward our shareholders,” he said.

   fr:bernama.com/bernama/v5/newsbusiness.php?id=469694

3. alan on February 8th, 2010 at 10:04 am

   2010 could be challenging year for M’sian stock market

   Bursa may see 10% correction

   KUALA LUMPUR: The local stock market can expect a 10% correction in the first half-year amid concern that global economic growth is faltering, said Great Eastern Life Assurance (M) Bhd chief investment officer Richard Lin.

   Lin said 2010 would be a challenging year for the stock market.

   “For first quarter, the market is expected to be volatile,” he said at a luncheon meeting on Saturday.

   “It is all a confidence issue now but you will see a single-digit positive performance, if any, this year,” he said.

   On Friday, share prices on Bursa Malaysia ended the week lower, with the key barometer falling to its lowest point since Nov 4 last year.

   It was dragged down by losses in heavyweights, with sentiment affected by sharp losses on Wall Street and regional bourses.

   For the week just ended, the FTSE Bursa Malaysia Kuala Lumpur Composite Index dropped 11.2 points to 1,247.9 from 1,259.16.

   Lin said the expected correction should not cause too much concern as it would provide an opportunity for investors.

   “Investors remain cautious over China’s monetary tightening and escalating sovereign issue,” he said.

   “Although the United States, with mixed economic data, is not a prime factor, it provides secondary nervousness as its corporate sector is measuring up to expectation.”

   Lin said for China, monetary tightening was considered necessary.

   “As for its long term, China needs to pull back some of this bubble. However, they are not attacking the whole economy,” he said.

   He added that China was only attacking certain sectors and this was a good strategy for long-term growth.

   “But this is not a new crisis for China’s economy. We consider this a technical correction.”

   According to Lin, the Asian market can expect to be stable if China is able to implement a good policy.

   “When all these problems are resolved, you will see confidence in the market,” he said

   fr:biz.thestar.com.my/news/story.asp?file=/2010/2/8/business/5634249&sec=business