Here's what we have for the week.

CORPORATE EVENTS

1. Property Guru had spent RM 3.6 million acquiring MyProperty Data Sdn Bhd from Technodex Bhd. The company is involved in providing Malaysia's real estate transaction data.

2. Tadmax Resources Bhd, now known as Maxim Bhd had complete the disposal of Pulau Indah Power Plant to Worldwide Holdings, a subsidiary of PKNS.

3. IJM Corp started the construction of a 34 story hotel and office tower at The Light City project, located at Penang

PROPERTY NEWS
1. Plenitude Bhd recently is acquiring a 21 storey hotel in Osaka, Japan for RM 438 million, a sum which is larger than her current market cap.

2. Ho Hup Construction has signed an agreement with one of its largest shareholders to develop the shareholder's land. The 11.73 acres of land located in Ampang.

INDUSTRY NEWS
1. The New Zealand government is asking her Central bank to consider house prices when formulating monetary policy. In our view, we believe asset prices may be included in CPI in the future and the era of low-interest rates may be ending soon.

2. Gold prices have fallen substantially this week as investors turn to a risk-off mood. However, we believe this is a great opportunity to take a long position in gold. We remain bullish on the gold price as it is a great tool to hedge against inflation. Institutional investors share the same thought too.

3. 3 weeks ago, we share our view that the market is being too bullish on growth theme and the valuation of value stocks is too cheap to ignore.

4. EU, China, and India are the 3 main exporting destinations for Malaysia palm oil. It is interesting to see how the volume of palm oil export has changed over the months and gauge the price of CPO futures.

5. Oil has returned to its March high. If you track the futures' open interest, you will start noticing oil prices as open interest in oil started to pick up in July 2020.

Weekly Newsletter - 30 Nov 2020

Here's what we have for the week.

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