Highlights of the day
§
Banking
(Sector Update): Moderating
growth and slightly overvalued (Maintain NEUTRAL) [download
report]
Loans growth is moderating, net interest margins
remain under pressure but impaired loans are unlikely to spike up. Since end-November 2011, we have remained
steadfast in our Neutral call on the sector, which has been borne out by the BM
Finance Index appreciating in line with the FBMKLCI. We are maintaining our Neutral call and HOLD
recommendations, with downsides of 5-10% to our target prices.
Other reports
Other Malaysian news
§
Media: Documents
for DTTB available till end-April
§ Maybank:
Eyes top position
§ MMC-Gamuda: Seals RM360m
deal for MRT project
§ SapuraCrest-Kencana:
To be suspended on 2 May
§ DRB-Hicom: On track to
delist Proton
§ Berjaya Land
§ E&O: Purchases UK
§ Tanjung
Offshore: Divests its marine services arm to Ekuinas
§
Fajarbaru
Builder: Likely to bag LRT job
§
Aviation: KLIA2 on track
to start operations next April
§ Building
Materials: Japanese steel players want import duty review
Global news
§ Europe : Spanish
GDP contracts for the second straight quarter
§ Europe : Dutch
Prime Minister resigns in budget cuts row
§ Europe : Services,
manufacturing shrink for third month
§ China
§ Indonesia
§ Taiwan
§ Singapore
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