The global oil prices will be touching $130 a barrel pretty soon. Ouch! That hurts but *yawn* are you sure it’s not just another prediction or myth? I know Malaysian Prime Minister Abdullah Badawi doesn’t like what I’ve written. Petronas could hardly laugh because in spite of the new crude oil’s record that topped $112.21 a barrel the first time in the futures market Wednesday, the company knew it needs to subsidize the same amount that it’s profiting. Badawi’s balls are within your grip since he couldn’t raise the fuel price after the recent 12th general election no matter how desperate he wishes to, thanks to your votes. Anyway I’ll leave that discussion for another day.
Analysts believes crude imports fell in part because fog closed several shipping channels in Texas and Louisiana that serve as vital oil import conduits last week. However I believe the oil prices could just escalate as long as the U.S. economy is cracking and Uncle Ben needs to cut the interest rate. Furthermore elsewhere it is cheaper to buy oil now due to weaker dollar. With current $112 a barrel it’s only another $18 to go before the oil prices reach the $130 a barrel. Do you think it's achievable?
Friday, April 11, 2008
Litrak Capital Repayment
Mahathir Mohamad, the former Prime Minister of Malaysia admitted his Cabinet’s stupidity about a year ago when he said the government has erred in signing the toll concession agreements. Early 2007 he said “This is one of thing that we need to correct. What you have is a cabinet which is not very knowledgeable all the time because it is not made up of experts but politicians (and) some politicians like myself can sometimes be stupid!”
Hence miraculously the government and sadly the public were held ransom by these highway operators. One of them is Lingkaran Trans Kota Holdings Bhd (KLSE: LITRAK, stock-code 6645) which operates the 40 km Damansara-Puchong highway, where the toll rose by 60 percent early 2007. Shareholders or Litrak will be paid RM1 for every share they have, in the form of 93 sen cash under a capital repayment exercise and another seven sen in a single-tier interim dividend for the year ended March 2008.
Hence miraculously the government and sadly the public were held ransom by these highway operators. One of them is Lingkaran Trans Kota Holdings Bhd (KLSE: LITRAK, stock-code 6645) which operates the 40 km Damansara-Puchong highway, where the toll rose by 60 percent early 2007. Shareholders or Litrak will be paid RM1 for every share they have, in the form of 93 sen cash under a capital repayment exercise and another seven sen in a single-tier interim dividend for the year ended March 2008.
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