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Monday, June 15, 2015

MESEJ UNTUK RAKYAT MALAYSIA (By HRH Brigadier General Tunku Ismail Ibni Sultan Ibrahim, The Crown Prince of Johor)



Source: https://www.facebook.com/johorsoutherntigers.com.my/timeline

Kebelakangan ini, saya hanya menyuarakan pandangan supaya mereka yang diberikan amanah jangan salahkan rakyat kerana hilang keyakinan dan kepercayaan terhadap anda, tetapi fikirkanlah mengapa rakyat telah hilang keyakinan dan kepercayaan terhadap anda. Nampaknya teguran saya secara baik ini telah mendapat maklum balas yang kasar daripada seorang menteri. Kalau saya mendapat jawapan sedemikian, apa harapan untuk teguran rakyat lain didengar?


Anda seorang menteri, bukannya tuhan dari syurga yang tidak boleh ditegur. Jangan fikir rakyat negara ini wujud untuk memberikan anda jawatan dan kekayaan, tetapi jawatan tersebut wujud supaya anda memberikan khidmat kepada rakyat. Apabila saya bersuara, saya melakukannya sebagai pemimpin rakyat saya, rakyat Johor dan Malaysia. Saya hanya mengingatkan para pemimpin negara ini bahawa mereka mempunyai tanggungjawab untuk berkhidmat kepada rakyat, dan nampaknya oleh sebab itu saya diserang.

Dalam aturan dunia yang baru, saya membayangkan masa depan di mana setiap orang mempunyai hak menyuarakan pendapat masing-masing. Namun, keadaan di Malaysia pada hari ini tidaklah begitu, menteri-menteri pantang ditegur. Saya rela dicemuh untuk mempertahankan perkara yang benar, daripada disanjung untuk membela perkara yang salah.

Saya bukan ahli politik. Saya hanya bertanggungjawab kepada Allah, Sultan saya, dan rakyat Johor. Saya bukannya menjalankan suruhan seperti boneka. Johor hanya mempunyai tempat bagi mereka yang mahu berkhidmat kepada rakyat, bukan untuk mereka yang mahu meraih undi demi kepentingan peribadi.

Akan tiba suatu masa, di mana rakyat Johor perlu membuat keputusan demi kebaikan masa depan kita dan generasi yang akan datang. Kita akan bersatu dan membuat keputusan tersebut sebagai Bangsa Johor, untuk menempa masa depan kita. Bersatu kita teguh, bercerai kita roboh. Saya berdiri untuk rakyat saya, bukan untuk merebut kuasa, bukan untuk menumbangkan kerajaan, tetapi untuk menjaga kesejahteraan rakyat saya.

Saya tidak pernah menyuruh sesiapa berundur atau meletak jawatan, hanya sekadar memberi ingatan kepada ahli politik berkenaan peranan dan tanggungjawab mereka. Sekiranya perkara seperti itu pun anda tidak boleh terima, jelaslah kepada seluruh rakyat betapa angkuh dan sombongnya anda.

Alhamdulillah, saya telah dikurniakan dengan kehidupan yang selesa. Kalau hendak diikutkan, saya boleh hidup dalam dunia saya sendiri tanpa menghiraukan permasalahan rakyat, tetapi saya di sini berdiri teguh bersama mereka. Jadi kepada mereka yang ingin mencemar imej saya dan menjadikan saya musuh awam nombor satu, sesungguhnya rakyat lebih bijak dan mampu menilai sendiri.

Jangan gunakan saya untuk mengalihkan tumpuan daripada isu-isu nasional yang lain. Negara ini memerlukan ahli politik yang bersih dan telus, yang menjalankan tanggungjawab mereka dengan keikhlasan dan integriti.

-DYAM Brigadier Jeneral Tunku Ismail Ibni Sultan Ibrahim, Tunku Mahkota Johor.

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MESSAGE FOR MALAYSIANS

Of late, I just voiced out my opinion and a reminder that people who has been entrusted with the responsibility to not blame the people for losing trust and confidence in them, but think of why the people no longer have the confidence and trust in them. Apparently my gentle reminder has been met with a rather hostile response from a minister. If I got such a reply, then what chances does the rest of the rakyat have?

You are a minister, not a God from the heavens who lord above everybody. Do not think the people of this country exist to provide you with position and wealth, but the position exists for you to serve the people. When I voice out, I do it as the leader of my rakyat, on behalf of Johoreans and Malaysians. All I did is to remind the leaders of the country that they have a responsibility to serve the people, and for this, I am attacked.

In the new world order, I envision a future that every person has a right to voice their opinions. However, that is not the case in Malaysia today, where ministers think they are untouchable. I am willing to be cursed for standing up for what is right, rather than be loved for defending what is wrong.

I am not a politician. I am only answerable to Allah, my Sultan and the people of Johor. I do not do the bidding of some puppet-master who pulls the strings. Johor only has place for those who want to serve the people, not for those who want to garner votes for their own interests.

There will come a time, when the Johorean people must decide what is best for us and our future generations. Decide and unite we will, as Bangsa Johor, to forge our future. United we stand strong, divided we fall. I stand for my rakyat, not to joust for power, not to topple the government, but to ensure the well-being of my people.

I never told anybody to step down or resign, only to remind politicians of their roles and responsibilities. If you cannot deal with that, it just shows your arrogance to the people. Alhamdulillah, I have been blessed with a comfortable life, and I can just live my own life and be oblivious to the worries of my people, but here I am, standing firm by their side. So for those wanting to tarnish my image and make me public enemy number one, the people are smarter than that, and they can think for themselves.

Do not use me to divert the attention from national issues. This country needs politicians who are clean and transparent, who carry out their duties with sincerity and integrity.

-HRH Brigadier General Tunku Ismail Ibni Sultan Ibrahim, The Crown Prince of Johor.

Tuesday, March 24, 2015

WisdomTree Europe Hedged Equity Fund (US$66.15) - Riding the EU equity bull

If you are interested to have some exposure to the European equity market, this is a suitable ETF to go into. 

Short Summary:
  • A dividend weighted index designed to provide exposure to European equity securities, particularly shares of European exporters, while at the same time neutralizing exposure to fluctuations between the value of the U.S. dollar and the euro.
  • Selection criteria: At least $1 billion in market capitalization and derive at least 50% of their revenue from countries outside of Europe. Countries historically represented in the Index include: Germany, France, the Netherlands, Spain, Belgium, Finland, Italy, Portugal, Austria and Ireland.
  • Currency hedge: The Index applies an applicable published WM/Reuters one-month currency forward rate to the total equity exposure of each country in the Index to adjust the value of the euro against the U.S. dollar. Forward currency contracts or futures contracts are used to offset the Fund’s exposure to the euro. The amount of forward contracts and futures contracts in the Fund is based on the aggregate exposure of the Fund and Index to the euro.
  • Closely tracking Stoxx 600 index: Based on historical 5-year data, the Fund’s market price and NAV closely tracked Stoxx 600 index with correlation of 0.984 and 0.991 respectively.
  • Premium/Discount of market price to NAV: Over the past 5 years, the gap between the Fund’s market price and NAV narrowed from around ±3% in 2010 to around ±1% currently. This implied that the Fund’s market price is tracking its NAV more closely.

  • Recommendation: Around US$65 level (slightly below 20MA line) could be a good price to enter (if any correction) as price was trading at US$64.50 before 4 Mar 2015 ECB meeting.



For more info on this fund, visit here.
Bloomberg ticker, click here.

Thursday, March 12, 2015

Insas (RM0.87): Still stuck while Inari flies to the sky?



Just a short note. 

Inari uptrend continues, leaving Insas behind 
Just look at the chart above. Inari was bashed down from RM3.10 level (adjusted) to below RM2.10++ in last Oct and December. At the same time, Insas was down to 80 sen from RM1.25 level. Nonetheless, since then, Inari climbed to all-time high of above RM3.30 while Insas was hardly up by comparison. At the same time, Insas' NAV continued to go up to RM1.82 now. Why the dichotomy? 


Reasons for Insas' sluggishness? 
Holding company discount? Insas not doing anything for shareholders (No dividend policy, meager dividends)? Value trap (It acts like Thong's own sole-proprietorship)? Unstable earnings (A lot of liquid investments such as bonds and equities which have changing market values all the time)? 


Insas' share of Inari is more than its own market cap: 
Insas' 27.7% share in Inari mother share is worth RM650mil already and we have not included Inari warrants which could be at least RM20-30mil. Both of these holdings are already 10% more than Insas' own current market cap. This means the rest of Insas' assets are totally free, including Insas' financial investments (Bonds, equities etc) and net cash total about RM500mil, associate companies worth RM160mil  and RM160mil worth of investment properties. 


Unlocking value? 
The immediate catalyst I see is probably disposal of Inari to realize gains from its Inari holdings. Recently Insas disposed 3.2mil++ shares in Inari. Hopefully more to come. Koon Yew Yin also blogged about it last year. 
Will Insas do more going forward? We'll just have to ask Dato' Thong.


Final comments: 
Enter if you have patience to wait for Insas' price to catch up. For now, I see tremendous value that can be unlocked from Insas. However, its price will remain depressed as long as the major shareholder has no intention to unlock value at all. Will Dato' Thong do it? Why should he? When? 

I've no answer. Invest at your own risk :p 

All the best!


Market Data: 
Market Cap: RM600mil
NAV: RM1.82