Electronic Share Application (ESA) through a Cool Bank

One of my friends, SW was desperate today when he suddenly discovered he could not perform the ESA for MSM IPO  using his HSBC credit card. He has just returned from a week long outstation duty this morning (Friday 10 June) and the following two days are weekend and the closing date for this IPO is on Monday 13 June.

The problem was due to his losing his old credit card which had been registered and LINKED to his CDS (Central Depository System) account with Bursa Malaysia and he forgot to re-register the new replacement card. The time was 3pm and according to his HSBC banker the registration would take three days to be activated. And the most that they could help is to activate it by Monday but that itself she was not sure as the registration is done centrally. SW was flabbergasted and told me his predicament. I was sorry for him then there was a bright spark.... I told SW to quickly withdraw his required cash from his HSBC Premier account for the number of IPO units to be applied with an extra cash  and rush  to Maybank.

I rang up my banker Patricia at Maybank and asked her to help SW open a new account into which he put in his cash. This was accomplished in less than 15 minutes with Pat's efficient service. I was thinking of SW performing an online share application which is a special facility at Maybank but Pat went on a step further by asking SW to perform an ESA using his new Maybank ATM card..... what? No registration like the other bank?.... "No" said Pat you just need to key in your CDS account number into the ATM machine and hey presto! You have your application!! SW was over the top and I am getting a free dinner on Saturday evening at Hyatt Regency.

As the bulk of my savings is still with HSBC and my ATM card is actively linked to my CDS account, I will still use their ESA facility.  At HSBC ATM machine you  need not  key in your CDS account number as it has been LINKED so that is the difference. There are pros and cons I supposed in the two systems. The cons is when you lose your card and have a new one and most likely you will  forget to re-register till the next IPO comes along. And what if when the time is restricted?

Had I known about this Maybank ESA system before, I would not be so frustrated late last year when I too failed to perform the ESA for MHB IPO at HSBC due to my replacement ATM card not being "registered". Certainly Maybank appears more friendly for stock market investors as it has both  an online share application facility as well as ESA service without the hassle of prior registration.

When you are loyal to an organisation, you will miss what others have to offer. I was a loyal customer at HSBC and paid the price for it. MHB IPO was 3.60 and today's price is 8.10.... what a loss of  an opportunity!

Well, I am glad I have opened an account with Maybank at least I would not be caught again with a "useless" ATM card when performing an ESA. I have an alternative now.

And good luck SW hope you will be successful with your MSM IPO after your foul-up at HSBC.

And the moral of the story is.... HAVE CASH WILL TRAVEL.

Shangri-La Sojourn

To ease my tension at work, I decided to follow my husband on his business trip. Yes, I wanted to chill out and later get back rejuvenated. And so I found myself  in a dreamlike surrounding by the beach and mostly in the resort oasis with the spa in the veranda and the sound of waves to lull me to sleep. What a wonderful life!

The Resort's Ocean Wing frontage

The evening of our arrival we ate by the pool about 500m from the beach. There were  nine specialty stalls serving all kinds of foods, Chinese, Indian,Malay,European,Korean,Japanese to cater to all to your taste. I chose one which served various vegetables , some seafoods, pasta, eggs and condiments which the chefs fried in seconds in a wok  under an extremely high temperature. While enjoying the foods,  suddenly the torrential rain and wind lashed at the large permanent gazebo and the staff immediately ushered us to the inner area. Oh, it was quite an experience eating in such windy and rainy (romantic) atmosphere with your hair flying about you. In the photo the diners had all run away from the periphery and sought refuge at the centre of the gazebo.

Hawker-style dining by the pool

The next day was spa day for me after watching a DVD  " Hatchiko- A Dog's Story" which tugged at my heart and used up a lot of tissues. It was just heart rending to see how loyal a dog was to a master even after he was dead the dog still came to the train station to wait for him for 10 years , a true story in Shibuya , Japan. Come to think of it I didn't know why I chose that DVD.. maybe the dashing Richard Gere's factor.

The quaint  spa has an electronic curtain for privacy and you can fill it with water at any temperature and there is plenty of L'occitane essential oil to give that refreshing feel and you can also pick some frangipani flowers blooming next to your room and put them in to create that Spa atmosphere.Must have been hours in there with a soft music in the background.

Okay no more story just to show you some pictures of my  short sojourn in this truly world-class resort both in service and facilities.

Beachfront Entrance

Hillside Entrance    

 The entrances facing the verdant
hills and at the back facing the
exclusive pool shielded by flower-hugging vines, coconut trees and beautifully landscaped surrounding. The pool is lined by blue parasols and beach chairs with plentiful of soft-fluffy towels. A kiosk serving tidbits and drinks is just at one corner.

The Veranda facing the pool and beach

The Spa on the Veranda

Door to the pool and beach

The room is spacious and tastefully
decorated. The minibar was stuffed with goodies. There is a coffee maker and a large canister of ice-cubes.
The lighting was just right, not too
dim like some hotels and not too bright.

Welcoming fruits and chocolate

The air-conditioning is just perfect.I love the rest room with a
a lovely painting to accompany you. The shower room has a large shower head with water coming out like real rain and there is a built-in bench for you to just sit.....meditating?

Sofa just for you with the spa in the background

                                                                                                       

Attractive wall detail design

Well I had a whale of time mostly by myself enjoying the peace and tranquility leaving all the world's troubles behind. Really a great way to  recharge your battery. I would do this at least three times a year as a form of mental relaxation and as a form of pampering myself with everything being done by others who are there to please you. When you return to the world of reality you will appreciate life better at the same time reduce any sense of drudgery in your life.

PICORP, JCY,UNICO and HSL in that order- My basis of clearance.

It can be discomforting clearing off a stock especially one which was doing well at one time but somehow had fallen on hard time and never seem to be able to get up. In fact this stock was recommended to me by someone I know ( that itself should have raised a red flag!) three  and a half years ago.

Had I not been that over hopeful ( read "greedy") I would have made quite a substantial sum on this stock.  I bought it at 40 sen and at its height of value it was 80 sen per share. Just fancy that, I was waiting for it to be 1.00! But it fell precipitously after 2008 financial crisis and with that my relatively large investment. Apparently the company's bad foray into an African country  had  also added to  the slide.

Its dividend last year was 0.41% per share and this year it has gone down to 0.10 %, at first I thought it was 10 sen and was rather momentarily elated till my better half calculated the dividend yield and reminded me that at 25% , the company must have been doing astoundingly well but how come its unit price remains less than 30 sen for almost three years following the financial meltdown? Then it dawned upon me that the dividend is one hundredth of a sen so multiply that (0.001) with my shareholding . Though my dividend amount is still in the thousand bracket but I have had it. I want to find a reason to dispose a large chunk of it and move on with some other stock. So my broker managed to clear off 57.5%  today. I am happy to get rid of the rest pretty soon. I will not go near a penny stock ever again. PICORP is the last of the Mohican!

Next is JCY and I have posted last year on my greatest blunder on this technology stock. Actually I was still reluctant to clear it off as I was thinking the stock would recover following the Eurozone debt recovery perhaps in two years' time but Charles my broker ( not financial advisor mind you) poured cold water on it and told me unless the company diversified, it was a twilight industry.

Anyway initially I had wanted to sell all my Dialog shares because it had gained 29% since my purchase early this year but Charles advised against it. Dialog, in oil and gas sector, had  potential said him. So there goes my JCY today, at least I won't see too many reds in my table of portfolio. I lost substantially on this stock. It wiped up all of my AXIATA gain. I will not touch any technology stock for a long while.

I was mulling over selling some of my plantation stocks. I used to have five of them but have cleared my position in MHC,Kwantas and Swkplnt. As my luck would have it all three rose right after I sold them as if they were waiting for me to get off the bandwagon. For example I sold Kwantas at miserable 1.58 and I bought it high during the plantation craze at 4.70 and following my disposal  it went up to 2.50!

It has been a yo-yo time for me with moments of hope,excitement,up,down,yawn, welcome then to the world of investing. By the way, I have given up on my earlier strategy of buy and hold under this current volatile era.

Now between my THPLNT and UNICO, which one to go? Well the former gives really good dividend and during the financial crisis the company was magnanimous, it gave us bonus issue one to one and I greatly benefited from that gesture. So the choice is clear, UNICO has to go. I kept this stock for a long time hoping that IOI would buy it but the rumour has never materialised. In the meantime their 4% dividend annually has somehow reduced my losses.

I have a recurrent love affair with HSL, the construction stock based in Sarawak. I bought this stock in the middle of 2009 when it was 0.80 sen. I bought quite a lot. It gradually rose and my best selling price was 1.90 late last year. But somehow the price has been idling around 1.70 especially after the Sarawak State election in April 2011. I do not have a good vibe about this stock at the moment. I have made  nearly 113% on HSL so time to say goodbye for now and find another just as exciting. I am keeping MRCB, another construction stock because I have slightly more faith in it.

And what do you know? My clearance sale has netted me the fund for MSM IPO's application beginning with that number 33. I need all the luck as the public portion of this IPO is only 14.06mil (2%).

MSM Malaysia Holdings Bhd IPO ... nearly missed it

As I have been busy planning for my Aussie trip and working hard as well as keeping abreast with my professional fields like attending seminars, reading journals and doing CME (continuing medical education) online, I almost overlook the exciting upcoming MSM IPO. Yes, the prospectus was issued online on 2 June to coincide with the opening of this IPO application. The closing date is 13 June and its listing is scheduled on 28 June.

It is really a short period just before my travel and I have to muster some fund to apply for this IPO. The current offer unit price is at RM3.38 (just look at that number... quite enticing isn't it ? Especially for those who believe in numeracy and feng shui ( I am guilty of this madness!). The final price will be 97% of the institutional price offer which is determined through book building. Now where do I get this fund? Making it worse , I believe in the number 33 whenever I apply for an IPO.

Well, if there is a will there is always a way. This IPO should not be missed by anyone who is a local stock market investor. Just try our luck, if we are successful well and good, if not at least we participate in the balloting. Imagine if we don't apply at all, there is absolutely no way we are going to know our luck. It is analogous to having a horse to ride than no horse at all!

Having said that, it is time also for me to clear off  the comatose "crocodiles" in my current portfolio.To let them continue being in coma is not going to give me any excitement  every now and then. In fact, the clearance will add to my needed fund.

I have downloaded and read the prospectus and have decided to go for this IPO. I will  keep some fund just in case my application is  not successful and have to buy  the shares in the open market. By hook or  by crook I must have this stock despite some people voicing out their lack of confidence in a GLC.

Yes, MSM Malaysia Holdings Bhd previously known as Malaysian Sugar Manufacturing Co. owned by billionaire Robert Kuok , was sold to FELDA (Federal Land Development Authority) about two years ago at the cost of RM1.25 billion. It is a leading sugar producer that controls about 57% of the domestic market. It will be listed under  the consumer product sector in Bursa Malaysia.

GLC or not,  sugar is needed in our daily life. Of course for some it is a controlled use by virtue of  their medical condition!

Good luck to all applicants!

To Australia with Malaysia Airlines and here I come Dear Edna.

I had planned to visit  Australia in February 2011 but due to the massive floods in Queensland, I was advised to postpone it. My journey will start from Kuala Lumpur to South Australia and crossing up the continent to Eastern part, the state of Queensland where I spent eight years of my life studying at a high school and later at the Queensland University at St Lucia and finally at Herston Medical School.

I am flying with Malaysia Airlines, what else? Their business class is truly world class and also because they've again extended to me an Enrich Gold Card  facilities so my loyalty is entrenched so to speak. 

I haven't been back to my Alma Mater for many years despite being "harassed" by my host family to visit them. Yes Edna is getting old and she did mention in her last Christmas card that if I didn't come this year I might not see her again... that kind of disturbed me so I resolved to fly soon as I can to see her. Edna helped me a lot when I was a student and I cannot forget her.

Unfortunately my husband is not able to come due to his heavy commitments.

Well, I have done some googlings and found out so many things have changed in Brisbane. Gosh, I used to drive in the city and now Queen Street has been closed off and becomes a pedestrian mall! There is a lot more shopping malls coming up and my University now looks like some new  place because of  new buildings  filling up those empty spaces I used to know. Can't wait to see the new Brisbane. Might meet some friends as well if time permits as my time in Brisbane is extremely limited.

I will be staying at Sofitel Brisbane and move around from there. Will post my travel later.