Azrul Syahriman Bin Salleh & Norasyida Binti Ahid 222, Lot 2574, Lrg B3, Kpg Tunku, Jln Astana, Petra Jaya, Kuching, Sarawak. Azrul: 016-3973634 Syida: 016-8734036 (Whatsapp or Telegram only)
Thursday 31 March 2011
Wednesday 30 March 2011
Tuesday 29 March 2011
HLIB Research 29 March 2011 (Pos Malaysia; Traders Brief) - Source: Cheah Bee Ling (HLB)
Pos Malaysia (BUY, TP = RM3.80)
No longer a boring stock
§ Investors’ perception on the stock is about to improve, as:
1. There’s little downside risk to Pos Malaysia’s share price from decent dividend yield and strong earnings growth;
2. The launch of new services/products (shared banking and advertising mail) that will boost Pos Malaysia’s earnings in the near term;
3. The booming e-commerce will boost Pos Malaysia’s logistic revenue;
4. Last but not least, the Postal Bill Act as well as the emergence of new strategic shareholder would potentially serve as the immediate upward re-rating catalyst to Pos Malaysia’s share price; and
5. P/E at 18% discount to Singapore Post despite much stronger projected growth.
§ At RM3.32, Pos Malaysia is trading at 2012 P/E of 11.4x, at 18% discount to Singapore Post. We are initiating coverage on Pos Malaysia with a BUY recommendation and a target price of RM3.80, based on 13x 2012 EPS of 29.2 sen.
FBM KLCI: Strong resistance at 1515-1525 pts
§ With the formation of Doji candlesticks over the last three days, the market is likely to continue its sideways consolidation until fresh catalysts emerge ahead of the upcoming 12 April Invest Malaysia event and the 16 April Sarawak state election.
§ Immediate supports are situated at 1500-1510.
Stock to watch - Masteel: Building for another upleg
§ As investors await more details from the RM1.35bn JV with KUB to bid for a RM1.35bn project to build and operate a 106.5km inter-city rail transit system in Iskandar Malaysia and Woodlands, Singapore, Masteel tumbled to as low as RM1.09 on 15 Mar before ending at RM1.17 yesterday.
§ Masteel is poised for further upside if prices can surpass the upper Bollinger band (now at RM1.20). Accumulate now but cut loss if the RM1.09 level is breached.
§ For cheaper entry, investors can also consider Masteel-WA (expires in Oct 2015), which is trading at slight premium of 7.7% and has a decent gearing of 2x (refer page 4payroll and ISM (1 April).
No longer a boring stock
§ Investors’ perception on the stock is about to improve, as:
1. There’s little downside risk to Pos Malaysia’s share price from decent dividend yield and strong earnings growth;
2. The launch of new services/products (shared banking and advertising mail) that will boost Pos Malaysia’s earnings in the near term;
3. The booming e-commerce will boost Pos Malaysia’s logistic revenue;
4. Last but not least, the Postal Bill Act as well as the emergence of new strategic shareholder would potentially serve as the immediate upward re-rating catalyst to Pos Malaysia’s share price; and
5. P/E at 18% discount to Singapore Post despite much stronger projected growth.
§ At RM3.32, Pos Malaysia is trading at 2012 P/E of 11.4x, at 18% discount to Singapore Post. We are initiating coverage on Pos Malaysia with a BUY recommendation and a target price of RM3.80, based on 13x 2012 EPS of 29.2 sen.
FBM KLCI: Strong resistance at 1515-1525 pts
§ With the formation of Doji candlesticks over the last three days, the market is likely to continue its sideways consolidation until fresh catalysts emerge ahead of the upcoming 12 April Invest Malaysia event and the 16 April Sarawak state election.
§ Immediate supports are situated at 1500-1510.
Stock to watch - Masteel: Building for another upleg
§ As investors await more details from the RM1.35bn JV with KUB to bid for a RM1.35bn project to build and operate a 106.5km inter-city rail transit system in Iskandar Malaysia and Woodlands, Singapore, Masteel tumbled to as low as RM1.09 on 15 Mar before ending at RM1.17 yesterday.
§ Masteel is poised for further upside if prices can surpass the upper Bollinger band (now at RM1.20). Accumulate now but cut loss if the RM1.09 level is breached.
§ For cheaper entry, investors can also consider Masteel-WA (expires in Oct 2015), which is trading at slight premium of 7.7% and has a decent gearing of 2x (refer page 4payroll and ISM (1 April).
How Safe Are Your Savings? - AARP The Magazine
Charles Replogle wanted a safe investment for his 86-year-old mother and his mentally disabled brother. So when a broker — a friend he'd known since he was 9 — suggested a low-risk, high-yield investment called a principal-protected note, the 55-year-old Vero Beach, Florida, restaurant owner handed over $130,000 — about a third of his savings. It sounded like a no-brainer.
Structured products are touted as safe, but they're really time bombs waiting to go off. — Dan Page
Huge mistake. The investment Replogle bought from UBS Financial Services, a division of the Swiss bank UBS AG, was much riskier than he knew. Although described as safe, it was in fact a complex, iffy offering known as a structured product — an investment whose yield depends on the performance of underlying financial instruments such as stocks, stock indexes, and unsecured bonds.
How Safe Are Your Savings? - AARP The Magazine
Monday 28 March 2011
HLIB Research 28 March 2011 - Source: Cheah Bee Ling (HLB)
Notion (Buy, TP: RM2.69)
Smile for the Camera
§ The company is expected to be a beneficiary of Nikon’s increasing market share in the interchangeable camera lens segment, forecast by CIPA to grow +20.2% yoy in 2011.
§ Notion is also expected to be a longer-term beneficiary of Nikon’s Business Continuity Management (BCM) plan, which should see production reallocated to Notion as a trusted outsourcing component supplier.
§ The camera segment contributes 50% of Notion’s revenues and enjoys the highest margins amongst all the business divisions.
§ The company’s HDD division would be supported by the continued demand for HDDs, forecast to grow +9% in 2011. The SSD pricing gap is expected to remain wide over the next few years, which should alleviate concerns of HDD obsolescence.
§ Notion is trading at undemanding PERs of 6.3x and 5.7x for FY11 and FY12, about half a standard deviation below its historical PER average of 7.96x. The stock is supported by net dividend yields of 3.1%.
§ Initiate coverage with a Buy. Near-term weak demand for HDDs and supply disruptions in the Camera segment are expected to yield opportunities for entry into the stock. Our target price of RM2.69 is based on a 2-year forward average PER of 7.96x as we believe Notion should be re-rated back to its mean due to its position within the Camera space.
February Inflation Report
§ The CPI growth accelerated further to 2.9% yoy in Feb (Jan: +2.4% yoy), higher than the consensus estimate of 2.6%. MOM basis, the CPI increased by 0.5%..
§ Domestic food prices accelerated to 4.7% yoy (Jan: +3.6% yoy) and contributed 48% of the CPI growth. Non-food prices also picked up to 2.1% yoy (Jan: +1.9% yoy), a firm sign that domestic price pressure is on the rise with some second round impact.
§ We now revise our CPI growth forecast to 3% for 2011 from 2.5% earlier. We expect inflation to shoot past 3% level in March and sustain between 3–3.5% in 2Q and 3Q before dipping below 3% in 4Q.
§ We now see BNM raising the OPR by 25bps in the May MPC meeting. Despite moderate economic data trend, BNM can still afford to pre-emptively hike 25bps to 3% while still remain accommodative, as hinted in the MPS.
FBM KLCI: To retest 1525-1537 pts in the short term
§ The KLCI is likely to trend higher this week amid overnight gains on Wall St and strengthening technical indicators.
§ Expectations of more positive announcements in the upcoming April Invest Malaysia event and a resounding BN victory in the upcoming Sarawak state election on 16 April are likely to keep broader market alive and resilient.
Dow Jones: Marching towards upper Bollinger band
§ Despite external headwinds, Dow managed to rebound strongly by 5.8% from 16 March’s nadir, amid generally positive economic data, strong corporate earnings and rising M&As.
§ This will further support current positive market sentiment to retest strong resistance zone of 12500 pts whilst immediate supports around 11800-12000.
§ This week major economic data in March are consumer confidence (29 March), ADP employment (30 March), nonfarm payroll and ISM (1 April).
Market Update 25-3-2011 (Source: HLB)
Gamuda
2H Results
§ 2Q11 revenue came in at RM607.2m with PATMI of RM94m translating to EPS of 4.59 sen/share and diluted EPS of 4.39 sen/share.
§ Construction margins continued to expand in 2Q and this allowed the division’s earnings to grow on a QoQ and YoY basis despite the drop in revenue.
§ The EDTP progress remained flat (from 54% to 58% completed) but Yenso Park activities picked-up in pace (from 57% to 72% completed)
§ Active outstanding order book as of 2Q11 is at RM3.2bn, translating to 1.8x FY10’s construction revenue.
§ Property division continued to do very well, buoyed by sales in Bandar Botanic, Horizon Hills and Jade Hills. However new sales did cool off after a record breaking of RM350m inthe previous quarter to RM250m. Unbilled sales increased to RM840m, translating to 1.6x FY10’s property revenue.
§ Celadon City, Ho Chi Minh, is set for full launch in April and management has projected sales of US$100m for FY11. Currently, 159 units of apartment have been booked with each unit selling between US$70k-130k.
§ Overall, the management is confident of surpassing earnings high of RM325m achieved in 2008.
§ Maintain HOLD call as fundamentals have already been reflected in share price. Maintain TP of RM3.63 based on SOP valuation.
Time DotCom
No Longer Requires Exemption from MGO
§ Pursuant to a consultation with the SC, Megawistra will no longer require a waiver from the SC to undertake a Mandatory General Offer of TDC as it was concluded that Khazanah and Global Transit International (GTI) are considered to be persons acting in concert (PAC).
§ Accordingly, before and after TDC’s proposed acquisitions (of GTI, GTL and AIMS), Megawistra and its PACs would collectively hold more than 50% of the voting shares in TDC and post the acquisitions, neither Megawistra nor its PACs would individually hold more than 33% of the voting shares in TDC.
§ This is a positive development for TDC as it moves a step closer towards finalizing the proposed acquisitions.
§ Maintain Buy with Target Price of RM0.95 based on SOP.
A decisive breakout above DTL will spur more uspide
§ The KLCI is likely to trend higher today amid overnight gains on Wall St and strengthening technical readings. As reiterated, a close above DTL is crucial for further progress towards the 1527 (upper Bollinger band) pts. However, declining volume is a concern that could cap further upside beyond 1526 pts.
Stock to watch – Tongher (RM2.52) - Likely beneficiary of Japan’s reconstruction
§ Apart from the timber plays, fasteners players such as Tongher could also benefit as its products are catered to various industries and has some exposure to Japan.
§ Tongher’s high-end customized and specialized stainless steel fasteners have diversified applications in construction, infrastructure, machinery and equipment, marine engineering and ship building, public transportation and automobiles. Its products are mainly exported to countries in Europe (60%), Japan (20%), U.S. & others (20%).
§ The successful breakout above the mid Bollinger band and improving technical landscape are likely to spur prices higher to RM2.70-2.80 zones. Immediate support levels are RM2.40-45. Stop loss below RM2.36.
Source: Vernon Lim Lee Cherh (HLB)
2H Results
§ 2Q11 revenue came in at RM607.2m with PATMI of RM94m translating to EPS of 4.59 sen/share and diluted EPS of 4.39 sen/share.
§ Construction margins continued to expand in 2Q and this allowed the division’s earnings to grow on a QoQ and YoY basis despite the drop in revenue.
§ The EDTP progress remained flat (from 54% to 58% completed) but Yenso Park activities picked-up in pace (from 57% to 72% completed)
§ Active outstanding order book as of 2Q11 is at RM3.2bn, translating to 1.8x FY10’s construction revenue.
§ Property division continued to do very well, buoyed by sales in Bandar Botanic, Horizon Hills and Jade Hills. However new sales did cool off after a record breaking of RM350m inthe previous quarter to RM250m. Unbilled sales increased to RM840m, translating to 1.6x FY10’s property revenue.
§ Celadon City, Ho Chi Minh, is set for full launch in April and management has projected sales of US$100m for FY11. Currently, 159 units of apartment have been booked with each unit selling between US$70k-130k.
§ Overall, the management is confident of surpassing earnings high of RM325m achieved in 2008.
§ Maintain HOLD call as fundamentals have already been reflected in share price. Maintain TP of RM3.63 based on SOP valuation.
Time DotCom
No Longer Requires Exemption from MGO
§ Pursuant to a consultation with the SC, Megawistra will no longer require a waiver from the SC to undertake a Mandatory General Offer of TDC as it was concluded that Khazanah and Global Transit International (GTI) are considered to be persons acting in concert (PAC).
§ Accordingly, before and after TDC’s proposed acquisitions (of GTI, GTL and AIMS), Megawistra and its PACs would collectively hold more than 50% of the voting shares in TDC and post the acquisitions, neither Megawistra nor its PACs would individually hold more than 33% of the voting shares in TDC.
§ This is a positive development for TDC as it moves a step closer towards finalizing the proposed acquisitions.
§ Maintain Buy with Target Price of RM0.95 based on SOP.
A decisive breakout above DTL will spur more uspide
§ The KLCI is likely to trend higher today amid overnight gains on Wall St and strengthening technical readings. As reiterated, a close above DTL is crucial for further progress towards the 1527 (upper Bollinger band) pts. However, declining volume is a concern that could cap further upside beyond 1526 pts.
Stock to watch – Tongher (RM2.52) - Likely beneficiary of Japan’s reconstruction
§ Apart from the timber plays, fasteners players such as Tongher could also benefit as its products are catered to various industries and has some exposure to Japan.
§ Tongher’s high-end customized and specialized stainless steel fasteners have diversified applications in construction, infrastructure, machinery and equipment, marine engineering and ship building, public transportation and automobiles. Its products are mainly exported to countries in Europe (60%), Japan (20%), U.S. & others (20%).
§ The successful breakout above the mid Bollinger band and improving technical landscape are likely to spur prices higher to RM2.70-2.80 zones. Immediate support levels are RM2.40-45. Stop loss below RM2.36.
Source: Vernon Lim Lee Cherh (HLB)
Daily Market Watch 23-3-2011 (Source: Vernon Lim Lee Cherh (HLB))
Macroeconomics
· Power has been restored at Japan’s nuclear power plant, easing concerns of meltdown while tensions in Libya eased as Allied force s secured no-fly zone. While concerns over a nuclear meltdown lifted, concerns over Japan’s economy lie unabated as Sony, Toyota and Honda announced further production halts, citing lack of supplies.
· Last week’s natural disaster in Japan sparked opinions that ECB may wait on further economic impacts before deciding on a rate hike. That opinion seems to have been put to rest when ECB officials commented that “strong vigilance is necessary to keep a lid on inflation”, reiterating ECB President’s remarks that the benchmark rate may be raised come April, as inflationary concern looks to be more distracting than economic impact the Japanese quake may have. CPI for the Eurozone has been advancing since Jun 2010.
· Inflation in UK beat forecast and gathered pace, rising 0.7% in Feb from 0.1% previously. Consumer prices grew 4.4% YOY, exceeding BOE’s target of 2% to pile pressure on policy makers to increase benchmark rate, which is at a record low of 0.5%.
· Malaysia’s foreign reserves rose to $110.40b as on Mar 15, up $ 0.62b from previous while Hong Kong’s inflation picked up to 3.7% in Feb from previous 3.6%, underlining price pressure not only in Hong Kong but globally.
Forex
· USD stayed soft as situation in Japan stabilises. With the US data falling short of expectations, the USD will likely remain soft in the near term.
· EUR declined against the greenback with more debt concerns surrounding Ireland and Portugal. We maintained our bearish view on the EUR in medium term.
· GBP soared on stronger-than-expected inflation data out of UK; increasing speculations that BOE will hike rates in 2Q. We maintained a bullish view on GBP in medium term, with expectations UK data to increasingly support the idea that the BOE will begin its rate hike cycle soon.
· JPY downtrend stabilized as Japanese nuclear concerns eased. Expect the JPY’s movement to be driven by news from the Fukushima plant this week. However, lingering fears on Japanese crisis as well as the MENA tension are likely to keep the JPY supported.
· AUD continued its climb against the greenback as risk appetites improved with easing concern in the Japanese nuclear crisis. Expect AUD to stay supported.
· MYR strengthened further against the greenback due to an improved risk sentiment with markets rebounding on reports the status of damaged nuclear facilities in Japan seems to be under control, for the time being. Ringgit is likely to remain steady in medium term, riding on local positive fundamentals.
Fixed Income
· UST ended mixed with losses on front end and mild gains on the 10-yr benchmark. Caution prevails on turmoil in Libya and risk from the damaged cooling system at nuclear plant in Japan. Dallas Fed President Richard Fisher said that no additional monetary stimulus will be needed after debt purchases under QE2 completes in June, which followed an earlier round of $1.7 trillion of purchases that ended a year ago, raising expectation that yields on government bonds are likely to go up.
· MGS closed mixed on the back of better stock performance. The belly of the curve pared losses with yields slipping 5bp to 3.57%, while the front end and long end fell with yields gaining 1-2bp to 3.39% and 4.04% respectively. BNM annual report will be released today, and inflation number for February later this week. Worries of rising inflation may cap gains on govvies.
Source: Vernon Lim Lee Cherh (HLB)
· Power has been restored at Japan’s nuclear power plant, easing concerns of meltdown while tensions in Libya eased as Allied force s secured no-fly zone. While concerns over a nuclear meltdown lifted, concerns over Japan’s economy lie unabated as Sony, Toyota and Honda announced further production halts, citing lack of supplies.
· Last week’s natural disaster in Japan sparked opinions that ECB may wait on further economic impacts before deciding on a rate hike. That opinion seems to have been put to rest when ECB officials commented that “strong vigilance is necessary to keep a lid on inflation”, reiterating ECB President’s remarks that the benchmark rate may be raised come April, as inflationary concern looks to be more distracting than economic impact the Japanese quake may have. CPI for the Eurozone has been advancing since Jun 2010.
· Inflation in UK beat forecast and gathered pace, rising 0.7% in Feb from 0.1% previously. Consumer prices grew 4.4% YOY, exceeding BOE’s target of 2% to pile pressure on policy makers to increase benchmark rate, which is at a record low of 0.5%.
· Malaysia’s foreign reserves rose to $110.40b as on Mar 15, up $ 0.62b from previous while Hong Kong’s inflation picked up to 3.7% in Feb from previous 3.6%, underlining price pressure not only in Hong Kong but globally.
Forex
· USD stayed soft as situation in Japan stabilises. With the US data falling short of expectations, the USD will likely remain soft in the near term.
· EUR declined against the greenback with more debt concerns surrounding Ireland and Portugal. We maintained our bearish view on the EUR in medium term.
· GBP soared on stronger-than-expected inflation data out of UK; increasing speculations that BOE will hike rates in 2Q. We maintained a bullish view on GBP in medium term, with expectations UK data to increasingly support the idea that the BOE will begin its rate hike cycle soon.
· JPY downtrend stabilized as Japanese nuclear concerns eased. Expect the JPY’s movement to be driven by news from the Fukushima plant this week. However, lingering fears on Japanese crisis as well as the MENA tension are likely to keep the JPY supported.
· AUD continued its climb against the greenback as risk appetites improved with easing concern in the Japanese nuclear crisis. Expect AUD to stay supported.
· MYR strengthened further against the greenback due to an improved risk sentiment with markets rebounding on reports the status of damaged nuclear facilities in Japan seems to be under control, for the time being. Ringgit is likely to remain steady in medium term, riding on local positive fundamentals.
Fixed Income
· UST ended mixed with losses on front end and mild gains on the 10-yr benchmark. Caution prevails on turmoil in Libya and risk from the damaged cooling system at nuclear plant in Japan. Dallas Fed President Richard Fisher said that no additional monetary stimulus will be needed after debt purchases under QE2 completes in June, which followed an earlier round of $1.7 trillion of purchases that ended a year ago, raising expectation that yields on government bonds are likely to go up.
· MGS closed mixed on the back of better stock performance. The belly of the curve pared losses with yields slipping 5bp to 3.57%, while the front end and long end fell with yields gaining 1-2bp to 3.39% and 4.04% respectively. BNM annual report will be released today, and inflation number for February later this week. Worries of rising inflation may cap gains on govvies.
Source: Vernon Lim Lee Cherh (HLB)
CIMB Islamic Deposit Fund 28-3-2011
xd denotes that distribution is declared for this fund (ex-date). Once a distribution has been paid, the unit price usually falls.
This fund is best bought after distribution (when price is cheapest).
Friday 25 March 2011
Thursday 24 March 2011
Wednesday 23 March 2011
Tuesday 22 March 2011
Monday 21 March 2011
Gold Price Chart 21.03.2011 (Kuwait Finance House)
Today's opening prices for Dali Equity Growth Fund is here
Saturday 19 March 2011
Thursday 17 March 2011
Tuesday 15 March 2011
Monday 14 March 2011
Market Commentary 14 March 2011
The FBM KLCI index lost 0.27 points or 0.02% on Monday. The Finance Index fell 0.15% to 13526.82 points, the Properties Index dropped 0.26% to 1054.1 points and the Plantation Index rose 0.70% to 7664.13 points.
The market traded within a range of 19.68 points between an intra-day high of 1500.21 and a low of 1480.53 during the session. Actively traded stocks include BJRTAIL, IRCB-WA, PERISAI, IRCB, PCHEM, SAAG, DIALOG, HWGB, TANCO and JOTECH-WA. Trading volume decreased to 802.36 mil shares worth RM1179.41 mil as compared to Friday’s 1020.13 mil shares worth RM1853.92 mil.
Leading Movers were PETCHEM (+19 sen to RM6.75), IOICORP (+8 sen to RM5.69), MISC (+16 sen to RM7.66), YTL (+11 sen to RM7.24) and SIME (+2 sen to RM9.05). Lagging Movers were TENAGA (-17 sen to RM6.03), CIMB (-6 sen to RM7.92), PETGAS (-28 sen to RM11.24), PBBANK (-4 sen to RM12.96) and YTLPOWR (-2 sen to RM2.27). Market breadth was negative with 308 gainers as compared to 352 losers.
Source: JF Apex Securities Bhd
Sunday 13 March 2011
KL bourse likely to be bearish
Share prices on Bursa Malaysia are likely to trade within a narrow band next week with investors cautious amid lingering concerns over the crisis in Libya and the anticipated economic setback from the massive earthquake which hit Japan on Friday, dealers said.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) is expected to hover between 1,480 and 1,500 points level, said Affin Investment Bank's Head of Retail Research Dr Nazri Khan.
"The negative impact of the Japanese tsunami, with the Yen and Nikkei dropping to a two week low, and volatile oil prices in Saudi Arabia with crude oil hitting a 27-month high of US$120 are set to drive the bearishness," he said today.
Read more: KL bourse likely to be bearish http://www.btimes.com.my/Current_News/BTIMES/articles/20110312113924/Article/index_html#ixzz1GRRMA2W1
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) is expected to hover between 1,480 and 1,500 points level, said Affin Investment Bank's Head of Retail Research Dr Nazri Khan.
"The negative impact of the Japanese tsunami, with the Yen and Nikkei dropping to a two week low, and volatile oil prices in Saudi Arabia with crude oil hitting a 27-month high of US$120 are set to drive the bearishness," he said today.
Read more: KL bourse likely to be bearish http://www.btimes.com.my/Current_News/BTIMES/articles/20110312113924/Article/index_html#ixzz1GRRMA2W1
Tsunami fears drown Bursa, Asian markets
Fears that a tsunami could hit other parts of the continent crushed already fragile confidence as markets across Asia fell like nine pins.
Read more: Tsunami fears drown Bursa, Asian markets http://www.btimes.com.my/Current_News/BTIMES/articles/KETNAMI/Article/#ixzz1GRQCsC2m
THE FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) and other Asian markets took a beating yesterday after Japan, the world's third largest economy, was hit by an 8.9 richter scale earthquake which unleashed a 10-metre high tsunami.
All the 30 component stocks of the FMB KLCI index closed the day in the red, shoving the benchmark index below the 1,500 points support level.
Fears that a tsunami could hit other parts of the continent crushed already fragile confidence as markets across Asia fell like nine pins.
Read more: Tsunami fears drown Bursa, Asian markets http://www.btimes.com.my/Current_News/BTIMES/articles/KETNAMI/Article/#ixzz1GRQCsC2m
Saturday 12 March 2011
Joke of the day...
A duck walks into a bar and asks: "Got any Bread?"
Barman says: "No."
Duck says: "Got any bread?"
Barman says: "No."
Duck says: "Got any bread?"
Barman says: "No, we have no bread."
Duck says: "Got any bread?"
Barman says: "No, we haven't got any bread!"
Duck says: "Got any bread?"
Barman says: "No, are you deaf?! We haven't got any bread, and if you ask me again and I'll nail your dang beak to the bar you irritating dang duck!"
Duck says: "Got any nails?"
Barman says: "No"
Duck says: "Got any bread?
Barman says: "No."
Duck says: "Got any bread?"
Barman says: "No."
Duck says: "Got any bread?"
Barman says: "No, we have no bread."
Duck says: "Got any bread?"
Barman says: "No, we haven't got any bread!"
Duck says: "Got any bread?"
Barman says: "No, are you deaf?! We haven't got any bread, and if you ask me again and I'll nail your dang beak to the bar you irritating dang duck!"
Duck says: "Got any nails?"
Barman says: "No"
Duck says: "Got any bread?
Friday 11 March 2011
Joke of the day...
Son: Dad, what does stupid mean ?
Dad: Stupid is someone who tries to explain the diversity in the different conditions and lengthy descriptions but the other individual does not understand him when he explains. Understand?
Son: No.
Dad: Stupid is someone who tries to explain the diversity in the different conditions and lengthy descriptions but the other individual does not understand him when he explains. Understand?
Son: No.
Market Daily March 10, 2011 - Sources TheEdge, TheStar, Bernama, Bloomberg, Reuters, Business Times
Breaking News
MARKET REVIEW
KLCI Update
Share prices on Bursa Malaysia ended firmer yesterday as investors' interest stayed focused on sectors related to the Economic Transformation Programme (ETP) initiatives, primarily plantation and oil and gas, dealers said. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.03 points or 0.40 per cent to 1,523.69. At the opening, the FBM KLCI was 1.52 points higher at 1,519.18. Thereafter, it moved between 1,519.18 and 1,525.69. Turnover rose to 1.50 billion shares worth RM2.24 billion from 1.17 billion shares worth RM1.75 billion on Tuesday with gainers outpacing losers 575 to 211 while 267 counters were unchanged.
Regional Market
Japanese stocks advanced, sending the Topix index to its first gain in three days, as a decline in oil prices eased concern higher energy costs will impede the global economic recovery. The Topix increased 0.6 percent to 944.29 at the 3 p.m. close in Tokyo, paring gains after rising earlier as much as 1.3 percent. The Nikkei 225 (NKY) Stock Average rose 0.6 percent 10,589.50.
US Market
U.S. stocks fell, sending the Standard & Poor’s 500 Index lower a third time in four days, as escalating violence in Libya tempered optimism that the biggest equity rally since 1955 will extend into a third year. The S&P 500 dropped 0.1 percent to 1,320.02 at 4 p.m. in New York. The Dow Jones Industrial Average fell 1.29 points, or less than 0.1 percent, to 12,213.09 as IBM, which makes up about 10 percent of the Dow, propped up the 30-stock gauge. Oil slid 0.6 percent to settle at $104.38 a barrel as a surge in supplies at a U.S. hub overshadowed concern about violence in Libya.
MEDIA HIGHLIGHTS
Malaysia
PM: Housing prices still manageable The rise in residential property prices is still manageable and measures such as the My First Home Scheme will allow those in the lower-income brackets to own homes. Prime Minister Datuk Seri Najib Tun Razak said at a press briefing yesterday, following the annual meeting with Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz, that the rise in house prices was being monitored. We're watching the increase in property prices closely which we think is still manageable,” he said, adding that the My First Home Scheme, which was launched on Tuesday for those earning less than RM3,000 a month, was a people-friendly measure to enable the lower income groups to own houses.
Growth affected if oil prices are too high Malaysia, as an oil exporting nation. stands to benefit as oil prices rise up to a certain point where super high oil prices would be more of a drag on the overall economy, said economists. With oil prices averaging US$90 to US$100 per barrel, oil subsidies by the Government could increase to some RM14bil from RM10.3bil last year. As of Wednesday, Nymex crude oil was trading around the US$104 band. MIDF Research economist Anthony Dass said that the first round effect from higher oil price will be positive, raising real GDP by 0.4% or for every US$10 per barrel. “On the fiscal budget, it is estimated that every US$1 per barrel rise in oil price will boost federal revenue by RM300mil to RM400mil over two years. Fuel subsidies too will rise amid a gradual approach towards subsidy reduction,” said CIMB Research head of Economics Lee Heng Guie. Global demand for palm oil growing rapidly.
The global market has become increasingly dependent on palm oil but major producers like Malaysia and Indonesia are facing tougher operational challenges to cater to the rapidly growing global demand. Palm oil, which accounts for 57% of world vegetable oils exports, stands to lose its leadership position if Malaysia and
Indonesia failed to address the issues amicably, Thomas Mielke, the executive director of ISTA Mielke GmBH, which publishes Oil World, said at the closing of the 22nd Palm and Lauric Oils Conference and Exhibition (POC 2011) organised by Bursa Malaysia yesterday. Mielke projected that by 2015 about 62 to 63 million tonnes of palm oil would be required versus 45.5 million tonnes in 2010.
Labuan licensed firms can have dual locations
Labuan International Business and Financial Centre (Labuan IBFC) licensed insurance and takaful firms can now locate their management and operational offices in Kuala Lumpur, or any other city within Malaysia, in line with the ongoing process of co-location and the movement towards a fully abstract international business and financial centre. This allowance is part of the financial sector liberalisation package initially introduced by Labuan Financial Services Authority in 2009, which provides for similar concessions to Labuan Holding companies, Labuan Banks and Investment Banks. The extension to Labuan insurance and takaful entities underlined the important role insurance and takaful played in the growth and success of Labuan IBFC, said Labuan FSA director-general Datuk Azizan Abdul Rahman.
CME: Bursa key strategic partner
CME Group Inc, the world’s largest derivatives exchange, has maintained that Bursa Malaysia is its key strategic partner in terms of trade-matching services, product licensing and minor cross-equity investments in the region. Its managing director (commodities products) Timothy J. Andriesen said: “We wish to clarify that CME Group has not entered into any type of agreement with the Indonesia Commodity and Derivatives Exchange (ICDX).” The collaboration with CME Group is part of the local bourse’s efforts to globalise Malaysia’s crude palm oil (CPO) futures market, thus facilitating a robust derivatives exchange.
MEDIA HIGHLIGHTS
Global
U.K. Trade Deficit Narrows More Than Forecast as Exports Surge to a Record The U.K. trade deficit narrowed more than economists forecast in January as exports surged to a record and imports of aircraft declined. The goods trade gap shrank to 7.06 billion pounds ($11.4 billion) from a record 9.69 billion pounds in December, the Office for National Statistics said today in London. The deficit is the smallest in 11 months and compared with the 8.5 billion- pound median forecast of 17 economists in a Bloomberg News survey. Exports rose 5.4 percent and imports fell 4 percent. Greece Debt Default Bets Increase as Spain Exits 'Sick List': Euro Credit Investors are becoming more discriminating about European creditworthiness, increasing bets that Greece, Ireland and Portugal may restructure their debts while Spain and Italy survive the euro region’s deficit crisis. The average annual cost of protecting of Greek, Irish and Portuguese bonds in the credit-default swaps market for five years exceeded the average of Spanish and Italian contracts by a record $496,000 this week. That’s up from $384,000 on Feb. 2 and $77,000 a year ago. Swaps on Greece signal a 60 percent probability of default in five years. The division between peripheral nations widened this week after Greece was downgraded deeper into junk by Moody’s Investors Service and speculation increased that the European Union will fail to agree on a comprehensive package to end the crisis. Traders are betting Spain will avert an EU bailout as budget cuts and growth help repair its balance sheet.
ECONOMIC HIGHLIGHTS
U.S. Wholesale Inventories Climb More-Than-Forecast 1.1% Amid Sales Growth Inventories at U.S. wholesalers rose more than forecast in January as distributors tried to keep pace with sales that rose by the most since November 2009. The 1.1 percent increase in stockpiles followed a revised 1.3 percent gain in December that was bigger than initially estimated, the Commerce Department said today in Washington. The median projection in a Bloomberg News survey was for a 0.9 percent rise. Sales jumped 3.4 percent in January, led by cars, computers and commodities. Consumer Comfort in U.S. at Highest Level Since ‘08
Consumer confidence climbed last week to the highest level since April 2008 as Americans grew less pessimistic about their finances. The Bloomberg Consumer Comfort Index, formerly the ABC News U.S. Weekly Consumer Comfort Index, was minus 39.6 in the period to Feb. 20, compared with minus 43.4 the prior week, a report today showed. Forty-nine percent of those polled held positive views on their financial situation, the most in a year. The biggest two-month drop in the jobless rate since 1958 may be helping lift households’ spirits, boosting the odds that spending, which accounts for about 70 percent of the economy, will keep growing.
- PM: Housing prices still manageable
- Growth affected if oil prices are too high
- Global demand for palm oil growing rapidly
- Labuan licensed firms can have dual locations
- CME: Bursa key strategic partner
- U.K. Trade Deficit Narrows More Than Forecast as Exports Surge to a Record
- Greece Debt Default Bets Increase as Spain Exits 'Sick List': Euro Credit
- Asia Central Banks Step Up Inflation Fight With Thai, Vietnam Rate Rises
- Tokyo Exchange Plans Merger Talks With Osaka, President Says
- U.S. Wholesale Inventories Climb More-Than-Forecast 1.1% Amid Sales Growth
- Consumer Comfort in U.S. at Highest Level Since ‘08
MARKET REVIEW
KLCI Update
Share prices on Bursa Malaysia ended firmer yesterday as investors' interest stayed focused on sectors related to the Economic Transformation Programme (ETP) initiatives, primarily plantation and oil and gas, dealers said. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.03 points or 0.40 per cent to 1,523.69. At the opening, the FBM KLCI was 1.52 points higher at 1,519.18. Thereafter, it moved between 1,519.18 and 1,525.69. Turnover rose to 1.50 billion shares worth RM2.24 billion from 1.17 billion shares worth RM1.75 billion on Tuesday with gainers outpacing losers 575 to 211 while 267 counters were unchanged.
Regional Market
Japanese stocks advanced, sending the Topix index to its first gain in three days, as a decline in oil prices eased concern higher energy costs will impede the global economic recovery. The Topix increased 0.6 percent to 944.29 at the 3 p.m. close in Tokyo, paring gains after rising earlier as much as 1.3 percent. The Nikkei 225 (NKY) Stock Average rose 0.6 percent 10,589.50.
US Market
U.S. stocks fell, sending the Standard & Poor’s 500 Index lower a third time in four days, as escalating violence in Libya tempered optimism that the biggest equity rally since 1955 will extend into a third year. The S&P 500 dropped 0.1 percent to 1,320.02 at 4 p.m. in New York. The Dow Jones Industrial Average fell 1.29 points, or less than 0.1 percent, to 12,213.09 as IBM, which makes up about 10 percent of the Dow, propped up the 30-stock gauge. Oil slid 0.6 percent to settle at $104.38 a barrel as a surge in supplies at a U.S. hub overshadowed concern about violence in Libya.
MEDIA HIGHLIGHTS
Malaysia
PM: Housing prices still manageable The rise in residential property prices is still manageable and measures such as the My First Home Scheme will allow those in the lower-income brackets to own homes. Prime Minister Datuk Seri Najib Tun Razak said at a press briefing yesterday, following the annual meeting with Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz, that the rise in house prices was being monitored. We're watching the increase in property prices closely which we think is still manageable,” he said, adding that the My First Home Scheme, which was launched on Tuesday for those earning less than RM3,000 a month, was a people-friendly measure to enable the lower income groups to own houses.
Growth affected if oil prices are too high Malaysia, as an oil exporting nation. stands to benefit as oil prices rise up to a certain point where super high oil prices would be more of a drag on the overall economy, said economists. With oil prices averaging US$90 to US$100 per barrel, oil subsidies by the Government could increase to some RM14bil from RM10.3bil last year. As of Wednesday, Nymex crude oil was trading around the US$104 band. MIDF Research economist Anthony Dass said that the first round effect from higher oil price will be positive, raising real GDP by 0.4% or for every US$10 per barrel. “On the fiscal budget, it is estimated that every US$1 per barrel rise in oil price will boost federal revenue by RM300mil to RM400mil over two years. Fuel subsidies too will rise amid a gradual approach towards subsidy reduction,” said CIMB Research head of Economics Lee Heng Guie. Global demand for palm oil growing rapidly.
The global market has become increasingly dependent on palm oil but major producers like Malaysia and Indonesia are facing tougher operational challenges to cater to the rapidly growing global demand. Palm oil, which accounts for 57% of world vegetable oils exports, stands to lose its leadership position if Malaysia and
Indonesia failed to address the issues amicably, Thomas Mielke, the executive director of ISTA Mielke GmBH, which publishes Oil World, said at the closing of the 22nd Palm and Lauric Oils Conference and Exhibition (POC 2011) organised by Bursa Malaysia yesterday. Mielke projected that by 2015 about 62 to 63 million tonnes of palm oil would be required versus 45.5 million tonnes in 2010.
Labuan licensed firms can have dual locations
Labuan International Business and Financial Centre (Labuan IBFC) licensed insurance and takaful firms can now locate their management and operational offices in Kuala Lumpur, or any other city within Malaysia, in line with the ongoing process of co-location and the movement towards a fully abstract international business and financial centre. This allowance is part of the financial sector liberalisation package initially introduced by Labuan Financial Services Authority in 2009, which provides for similar concessions to Labuan Holding companies, Labuan Banks and Investment Banks. The extension to Labuan insurance and takaful entities underlined the important role insurance and takaful played in the growth and success of Labuan IBFC, said Labuan FSA director-general Datuk Azizan Abdul Rahman.
CME: Bursa key strategic partner
CME Group Inc, the world’s largest derivatives exchange, has maintained that Bursa Malaysia is its key strategic partner in terms of trade-matching services, product licensing and minor cross-equity investments in the region. Its managing director (commodities products) Timothy J. Andriesen said: “We wish to clarify that CME Group has not entered into any type of agreement with the Indonesia Commodity and Derivatives Exchange (ICDX).” The collaboration with CME Group is part of the local bourse’s efforts to globalise Malaysia’s crude palm oil (CPO) futures market, thus facilitating a robust derivatives exchange.
MEDIA HIGHLIGHTS
Global
U.K. Trade Deficit Narrows More Than Forecast as Exports Surge to a Record The U.K. trade deficit narrowed more than economists forecast in January as exports surged to a record and imports of aircraft declined. The goods trade gap shrank to 7.06 billion pounds ($11.4 billion) from a record 9.69 billion pounds in December, the Office for National Statistics said today in London. The deficit is the smallest in 11 months and compared with the 8.5 billion- pound median forecast of 17 economists in a Bloomberg News survey. Exports rose 5.4 percent and imports fell 4 percent. Greece Debt Default Bets Increase as Spain Exits 'Sick List': Euro Credit Investors are becoming more discriminating about European creditworthiness, increasing bets that Greece, Ireland and Portugal may restructure their debts while Spain and Italy survive the euro region’s deficit crisis. The average annual cost of protecting of Greek, Irish and Portuguese bonds in the credit-default swaps market for five years exceeded the average of Spanish and Italian contracts by a record $496,000 this week. That’s up from $384,000 on Feb. 2 and $77,000 a year ago. Swaps on Greece signal a 60 percent probability of default in five years. The division between peripheral nations widened this week after Greece was downgraded deeper into junk by Moody’s Investors Service and speculation increased that the European Union will fail to agree on a comprehensive package to end the crisis. Traders are betting Spain will avert an EU bailout as budget cuts and growth help repair its balance sheet.
ECONOMIC HIGHLIGHTS
U.S. Wholesale Inventories Climb More-Than-Forecast 1.1% Amid Sales Growth Inventories at U.S. wholesalers rose more than forecast in January as distributors tried to keep pace with sales that rose by the most since November 2009. The 1.1 percent increase in stockpiles followed a revised 1.3 percent gain in December that was bigger than initially estimated, the Commerce Department said today in Washington. The median projection in a Bloomberg News survey was for a 0.9 percent rise. Sales jumped 3.4 percent in January, led by cars, computers and commodities. Consumer Comfort in U.S. at Highest Level Since ‘08
Consumer confidence climbed last week to the highest level since April 2008 as Americans grew less pessimistic about their finances. The Bloomberg Consumer Comfort Index, formerly the ABC News U.S. Weekly Consumer Comfort Index, was minus 39.6 in the period to Feb. 20, compared with minus 43.4 the prior week, a report today showed. Forty-nine percent of those polled held positive views on their financial situation, the most in a year. The biggest two-month drop in the jobless rate since 1958 may be helping lift households’ spirits, boosting the odds that spending, which accounts for about 70 percent of the economy, will keep growing.
Oil & gas stocks rally on news of big plans
Oil and gas stocks shot up after the government announced some major plans for the industry under the Economic Transformation Programme.
Read more: Oil & gas stocks rally on news of big plans http://www.btimes.com.my/Current_News/BTIMES/articles/FAB99/Article/#ixzz1GFLzyJD5
Chief among them was RG Gas and Chemicals Sdn Bhd's planned RM3 billion investment over 10 years to build an integrated oil and gas hub on Pulau Daat, Labuan. This boosted investor interest on fabrication companies yesterday.
It was announced on Tuesday that RG Gas intends to build a hub that will provide land-based logistics and support services such as fabrication yards and tank farms.
AmResearch Sdn Bhd named companies such as Dialog Group Bhd, KNM Group Bhd and Kencana Petroleum Bhd as expected bidders for portions of the work.
Read more: Oil & gas stocks rally on news of big plans http://www.btimes.com.my/Current_News/BTIMES/articles/FAB99/Article/#ixzz1GFLzyJD5
CIMB Islamic Small Cap Fund Monitor 11-03-2011 (Opening Price)
| ISCF | CIMB ISLAMIC SMALL CAP FUND | 0.6642 | -0.0007 |
Thursday 10 March 2011
Four Bestino bosses charged with money laundering
By CHAN LI LEEN
lileen@thestar.com.my
IPOH: Four directors of gold investment scheme operator Bestino Golden House Sdn Bhd claimed trial separately in a Sessions Court here to 322 counts of money laundering involving RM156.25mil.
Chong Yuk Ming, 49, Goon Koon Lee, 48, Chang Kuei Geh, 57, and Ho Chee Cheong, 41, pleaded not guilty to accepting and utilising illegal proceeds as well as transferring the money to local and foreign financial institutions between July 9, 2006, and Sept 21, 2008.
They were charged under Section 4(1) of Anti-Money Laundering and Anti-Terrorism Financing Act with Chong facing 52 of the total charges, Goon 102, Chang 114 and Ho 54.
The offence under the Act carries a maximum RM5mil fine or five years’ jail or both, upon conviction.
In the dock: Three of the four directors (from left) Goon, Chong and Ho being led to the courtroom of the Sessions Court in Ipoh yesterday.
http://www.publicgoldsarawak.com/ver2/2011/02/24/four-bestino-bosses-charged-with-money-laundering/
The difference between A- and H-share
While there is commonality in the underlying stocks within A-share and H-share
markets, they are different in several dimensions:
• The H-share market, which covers state-owned enterprises listed in Hong Kong, allows for the free flow of capital and for high participation from international institutional investors. The A-share market operates within mainland China and is dominated by domestic retail investors, with less than 1% foreign participation.
• Domestic A-shares have tended to have a low correlation with the global economy and equity markets. Chinese H-shares trading on the Hong Kong Stock Exchange have had a much higher correlation with global markets due to the free flow of foreign capital.
• The A-share market is more concentrated toward the material and industrial sectors, while the H-share market has higher exposure to telecommunications and energy companies.
markets, they are different in several dimensions:
• The H-share market, which covers state-owned enterprises listed in Hong Kong, allows for the free flow of capital and for high participation from international institutional investors. The A-share market operates within mainland China and is dominated by domestic retail investors, with less than 1% foreign participation.
• Domestic A-shares have tended to have a low correlation with the global economy and equity markets. Chinese H-shares trading on the Hong Kong Stock Exchange have had a much higher correlation with global markets due to the free flow of foreign capital.
• The A-share market is more concentrated toward the material and industrial sectors, while the H-share market has higher exposure to telecommunications and energy companies.
Growth Fund-What does it mean?
A diversified portfolio of stocks that has capital appreciation as its primary goal, with little or no dividend payouts. Dividend or income distribution for growth funds will be incidental. Portfolio companies would mainly consist of companies with above-average growth in earnings that reinvest their earnings into expansion, acquisitions, and/or research and development. Most growth funds offer higher potential capital appreciation over medium to long-term period but usually at above-average risk. Growth funds are more volatile than funds in the value and blend categories. The companies in a growth fund portfolio are in an expansion phase and they are not expected to pay dividends. Investing in growth funds requires a higher tolerance for risk and a holding
period with a time horizon of five to 10 years.
period with a time horizon of five to 10 years.
Wednesday 9 March 2011
Surah al Waqiah سُوۡرَةُ الواقِعَة
بِسۡمِ ٱللهِ ٱلرَّحۡمَـٰنِ ٱلرَّحِيمِ
إِذَا وَقَعَتِ ٱلۡوَاقِعَةُ (١) لَيۡسَ لِوَقۡعَتِہَا كَاذِبَةٌ (٢) خَافِضَةٌ۬ رَّافِعَةٌ (٣) إِذَا رُجَّتِ ٱلۡأَرۡضُ رَجًّ۬ا (٤) وَبُسَّتِ ٱلۡجِبَالُ بَسًّ۬ا (٥) فَكَانَتۡ هَبَآءً۬ مُّنۢبَثًّ۬ا (٦) وَكُنتُمۡ أَزۡوَٲجً۬ا ثَلَـٰثَةً۬ (٧) فَأَصۡحَـٰبُ ٱلۡمَيۡمَنَةِ مَآ أَصۡحَـٰبُ ٱلۡمَيۡمَنَةِ (٨) وَأَصۡحَـٰبُ ٱلۡمَشۡـَٔمَةِ مَآ أَصۡحَـٰبُ ٱلۡمَشۡـَٔمَةِ (٩)وَٱلسَّـٰبِقُونَ ٱلسَّـٰبِقُونَ (١٠) أُوْلَـٰٓٮِٕكَ ٱلۡمُقَرَّبُونَ (١١) فِى جَنَّـٰتِ ٱلنَّعِيمِ (١٢) ثُلَّةٌ۬ مِّنَ ٱلۡأَوَّلِينَ (١٣) وَقَلِيلٌ۬ مِّنَ ٱلۡأَخِرِينَ (١٤) عَلَىٰ سُرُرٍ۬ مَّوۡضُونَةٍ۬ (١٥) مُّتَّكِـِٔينَ عَلَيۡہَا مُتَقَـٰبِلِينَ (١٦)يَطُوفُ عَلَيۡہِمۡ وِلۡدَٲنٌ۬ مُّخَلَّدُونَ (١٧)بِأَكۡوَابٍ۬ وَأَبَارِيقَ وَكَأۡسٍ۬ مِّن مَّعِينٍ۬ (١٨) لَّا يُصَدَّعُونَ عَنۡہَا وَلَا يُنزِفُونَ (١٩) وَفَـٰكِهَةٍ۬ مِّمَّا يَتَخَيَّرُونَ (٢٠)وَلَحۡمِ طَيۡرٍ۬ مِّمَّا يَشۡتَہُونَ (٢١) وَحُورٌ عِينٌ۬ (٢٢) كَأَمۡثَـٰلِ ٱللُّؤۡلُوِٕ ٱلۡمَكۡنُونِ (٢٣) جَزَآءَۢ بِمَا كَانُواْ يَعۡمَلُونَ (٢٤) لَا يَسۡمَعُونَ فِيہَا لَغۡوً۬ا وَلَا تَأۡثِيمًا (٢٥) إِلَّا قِيلاً۬ سَلَـٰمً۬ا سَلَـٰمً۬ا (٢٦) وَأَصۡحَـٰبُ ٱلۡيَمِينِ مَآ أَصۡحَـٰبُ ٱلۡيَمِينِ (٢٧) فِى سِدۡرٍ۬ مَّخۡضُودٍ۬ (٢٨) وَطَلۡحٍ۬ مَّنضُودٍ۬ (٢٩) وَظِلٍّ۬ مَّمۡدُودٍ۬ (٣٠) وَمَآءٍ۬ مَّسۡكُوبٍ۬ (٣١) وَفَـٰكِهَةٍ۬ كَثِيرَةٍ۬ (٣٢)لَّا مَقۡطُوعَةٍ۬ وَلَا مَمۡنُوعَةٍ۬ (٣٣) وَفُرُشٍ۬ مَّرۡفُوعَةٍ (٣٤) إِنَّآ أَنشَأۡنَـٰهُنَّ إِنشَآءً۬ (٣٥) فَجَعَلۡنَـٰهُنَّ أَبۡكَارًا (٣٦) عُرُبًا أَتۡرَابً۬ا (٣٧) لِّأَصۡحَـٰبِ ٱلۡيَمِينِ (٣٨)ثُلَّةٌ۬ مِّنَ ٱلۡأَوَّلِينَ (٣٩) وَثُلَّةٌ۬ مِّنَ ٱلۡأَخِرِينَ (٤٠) وَأَصۡحَـٰبُ ٱلشِّمَالِ مَآ أَصۡحَـٰبُ ٱلشِّمَالِ (٤١) فِى سَمُومٍ۬ وَحَمِيمٍ۬ (٤٢)وَظِلٍّ۬ مِّن يَحۡمُومٍ۬ (٤٣) لَّا بَارِدٍ۬ وَلَا كَرِيمٍ (٤٤) إِنَّہُمۡ كَانُواْ قَبۡلَ ذَٲلِكَ مُتۡرَفِينَ (٤٥) وَكَانُواْ يُصِرُّونَ عَلَى ٱلۡحِنثِ ٱلۡعَظِيمِ (٤٦) وَكَانُواْ يَقُولُونَ أَٮِٕذَا مِتۡنَا وَكُنَّا تُرَابً۬ا وَعِظَـٰمًا أَءِنَّا لَمَبۡعُوثُونَ (٤٧) أَوَءَابَآؤُنَا ٱلۡأَوَّلُونَ (٤٨) قُلۡ إِنَّ ٱلۡأَوَّلِينَ وَٱلۡأَخِرِينَ (٤٩)لَمَجۡمُوعُونَ إِلَىٰ مِيقَـٰتِ يَوۡمٍ۬ مَّعۡلُومٍ۬ (٥٠) ثُمَّ إِنَّكُمۡ أَيُّہَا ٱلضَّآلُّونَ ٱلۡمُكَذِّبُونَ (٥١) لَأَكِلُونَ مِن شَجَرٍ۬ مِّن زَقُّومٍ۬ (٥٢) فَمَالِـُٔونَ مِنۡہَا ٱلۡبُطُونَ (٥٣) فَشَـٰرِبُونَ عَلَيۡهِ مِنَ ٱلۡحَمِيمِ (٥٤) فَشَـٰرِبُونَ شُرۡبَ ٱلۡهِيمِ (٥٥)هَـٰذَا نُزُلُهُمۡ يَوۡمَ ٱلدِّينِ (٥٦) نَحۡنُ خَلَقۡنَـٰكُمۡ فَلَوۡلَا تُصَدِّقُونَ (٥٧)أَفَرَءَيۡتُم مَّا تُمۡنُونَ (٥٨) ءَأَنتُمۡ تَخۡلُقُونَهُ ۥۤ أَمۡ نَحۡنُ ٱلۡخَـٰلِقُونَ (٥٩)نَحۡنُ قَدَّرۡنَا بَيۡنَكُمُ ٱلۡمَوۡتَ وَمَا نَحۡنُ بِمَسۡبُوقِينَ (٦٠) عَلَىٰٓ أَن نُّبَدِّلَ أَمۡثَـٰلَكُمۡ وَنُنشِئَكُمۡ فِى مَا لَا تَعۡلَمُونَ (٦١) وَلَقَدۡ عَلِمۡتُمُ ٱلنَّشۡأَةَ ٱلۡأُولَىٰ فَلَوۡلَا تَذَكَّرُونَ (٦٢) أَفَرَءَيۡتُم مَّا تَحۡرُثُونَ (٦٣) ءَأَنتُمۡ تَزۡرَعُونَهُ ۥۤ أَمۡ نَحۡنُ ٱلزَّٲرِعُونَ (٦٤) لَوۡ نَشَآءُ لَجَعَلۡنَـٰهُ حُطَـٰمً۬ا فَظَلۡتُمۡ تَفَكَّهُونَ (٦٥) إِنَّا لَمُغۡرَمُونَ (٦٦) بَلۡ نَحۡنُ مَحۡرُومُونَ (٦٧) أَفَرَءَيۡتُمُ ٱلۡمَآءَ ٱلَّذِى تَشۡرَبُونَ (٦٨) ءَأَنتُمۡ أَنزَلۡتُمُوهُ مِنَ ٱلۡمُزۡنِ أَمۡ نَحۡنُ ٱلۡمُنزِلُونَ (٦٩) لَوۡ نَشَآءُ جَعَلۡنَـٰهُ أُجَاجً۬ا فَلَوۡلَا تَشۡكُرُونَ (٧٠)أَفَرَءَيۡتُمُ ٱلنَّارَ ٱلَّتِى تُورُونَ (٧١) ءَأَنتُمۡ أَنشَأۡتُمۡ شَجَرَتَہَآ أَمۡ نَحۡنُ ٱلۡمُنشِـُٔونَ (٧٢) نَحۡنُ جَعَلۡنَـٰهَا تَذۡكِرَةً۬ وَمَتَـٰعً۬ا لِّلۡمُقۡوِينَ (٧٣) فَسَبِّحۡ بِٱسۡمِ رَبِّكَ ٱلۡعَظِيمِ (٧٤) ۞ فَلَآ أُقۡسِمُ بِمَوَٲقِعِ ٱلنُّجُومِ (٧٥) وَإِنَّهُ ۥ لَقَسَمٌ۬ لَّوۡ تَعۡلَمُونَ عَظِيمٌ (٧٦) إِنَّهُ ۥ لَقُرۡءَانٌ۬ كَرِيمٌ۬ (٧٧)فِى كِتَـٰبٍ۬ مَّكۡنُونٍ۬ (٧٨) لَّا يَمَسُّهُ ۥۤ إِلَّا ٱلۡمُطَهَّرُونَ (٧٩) تَنزِيلٌ۬ مِّن رَّبِّ ٱلۡعَـٰلَمِينَ (٨٠) أَفَبِہَـٰذَا ٱلۡحَدِيثِ أَنتُم مُّدۡهِنُونَ (٨١) وَتَجۡعَلُونَ رِزۡقَكُمۡ أَنَّكُمۡ تُكَذِّبُونَ (٨٢) فَلَوۡلَآ إِذَا بَلَغَتِ ٱلۡحُلۡقُومَ (٨٣) وَأَنتُمۡ حِينَٮِٕذٍ۬ تَنظُرُونَ (٨٤)وَنَحۡنُ أَقۡرَبُ إِلَيۡهِ مِنكُمۡ وَلَـٰكِن لَّا تُبۡصِرُونَ (٨٥) فَلَوۡلَآ إِن كُنتُمۡ غَيۡرَ مَدِينِينَ (٨٦) تَرۡجِعُونَہَآ إِن كُنتُمۡ صَـٰدِقِينَ (٨٧) فَأَمَّآ إِن كَانَ مِنَ ٱلۡمُقَرَّبِينَ (٨٨) فَرَوۡحٌ۬ وَرَيۡحَانٌ۬ وَجَنَّتُ نَعِيمٍ۬ (٨٩) وَأَمَّآ إِن كَانَ مِنۡ أَصۡحَـٰبِ ٱلۡيَمِينِ (٩٠) فَسَلَـٰمٌ۬ لَّكَ مِنۡ أَصۡحَـٰبِ ٱلۡيَمِينِ (٩١) وَأَمَّآ إِن كَانَ مِنَ ٱلۡمُكَذِّبِينَ ٱلضَّآلِّينَ (٩٢) فَنُزُلٌ۬ مِّنۡ حَمِيمٍ۬ (٩٣) وَتَصۡلِيَةُ جَحِيمٍ (٩٤) إِنَّ هَـٰذَا لَهُوَ حَقُّ ٱلۡيَقِينِ (٩٥) فَسَبِّحۡ بِٱسۡمِ رَبِّكَ ٱلۡعَظِيمِ (٩٦)
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