§
Economics
(Gross Domestic Product): 1Q2012:
The economy moderates but not too badly. [download
report]
The Malaysian economy grew slower at 4.7% y-o-y
beating both house estimate and market consensus of 3.5% and 4.6% y-o-y
respectively. The slower growth was due to some braking of pace in the trade
and government spending components. Substantial increase in investment as well
as sustained consumption partly overcame the slowdown. On the supply-side, the
construction sector was the main beneficiary of improved investment as various
civil engineering and residential projects began. Finally, while we are keeping
our full year estimate at the moment, we will be looking to upgrade our 2012
GDP forecast soon. Our model suggests 4.2% annual growth will likely be the
floor for our new revised figure.
§
Economics
(Consumer Price Index): April
2012: Inflation slows further as demand-pull forces weaken. [download
report]
April 2012 CPI grew slower by 1.9% y-o-y after growing
2.1% y-o-y in March. We estimate core inflation to have grown slower by 1.6%
y-o-y versus 1.8% in the previous month. On m-o-m basis, the CPI was stable as
both headline and core inflation experience 0.0% growth. The m-o-m stability
and y-o-y slowdown may suggest at least two relevant factors at play: subsiding
subsidy rationalization effect and weak demand-pull forces. We project both
headline and core inflation in May 2012 to slow slightly to 1.8% and 1.5% y-o-y
respectively.
Other reports
Other Malaysian news
§ Petronas Chemicals: Allocates RM2bn capex for 2012
§ Maxis: Promotion rate for fibre internet service
§ Tan Chong: Aims for better second half
§ Axiata:
To narrow gap in cost of debt
§
RHB-OSK: Wraps up merger deal
§
SP Setia: Has big plans in Penang
§
MPHB: Plans for 80% dividend payout policy
§
MAS: Bonds secured
§
Star: Tony Fernandes joins board
§
TSH Resources: Plantation
§
CMS: Cement unit embarks on RM150m expansion
§
Green
Packet: Aims for RM1bn revenue by 2015
§
Ramunia:
Expects to exit PN17 status soon
§
SAM Engineering: Eyes RM1bn revenue
§ Oil &
Gas:
Petronas targets
10 to 12 more partners for Rapid
Global news
§ US
§ Europe : Eurozone looks at Greek exit as leaders meet
§ Europe : Hollande pushes EU to talk about joint euro bonds
§ UK
§ Japan
§ Taiwan
§ Singapore
Our on-line
trading portal at www.ecmmoney.com
