Highlights of the day
§
Economics
(Quarterly Economic Outlook): Third
Quarter 2012:1H exhibited resilience, but 2H may be weaker [download
report]
Earlier European actions did not prevent its troubles
from flaring up again. Malaysian exports to Europe
have been contracting and we expect the on-going crisis to hurt Malaysian
exports further down the road. The narrative of weak exports but resilient
domestic economy may continue through the year. We are maintaining GDP growth
for 2012 at 4%. We are reducing our inflation rate forecast to 2% due to late
election. We are maintaining our OPR forecast of 3.00% by year-end. We are also
maintaining our MYR/USD forecast at 2.95.
Other reports
Other Malaysian news
§ Sime
Darby: Expects Weifang port earnings to triple
§ Tan
Chong: Gears for
regional expansion
§ CIMB: Cambodian unit
targets US$100m deposits, US$90m in loans
§ FGVH: Institutional
shares of FGV fixed at RM4.55
§ Petronas
Dagangan: Eyes bigger presence in Indonesia ,
Myanmar
§ AirAsia: New CEO will
take airline into another league
§ MAS: To face
shareholders’ wrath
§ MAS: To double
Asia-Pacific routes
§ Wah
Seong: Aims to seal oil firm buys by year-end
§ CB Industrial Product: Eyes bigger order
§ Kenanga: Buying ECM
Investment Bank for RM875m
§ Sarawak
Cable: Mini hydro
power plan
§ IPO:
Khazanah to gain RM4.9bn from the listing of IHH Healthcare
§ Construction: Shortfall in association forecast
§ Oil
& Gas: Oil-tanker
charter rates up on July cargoes
§ Plantation
§ Telecommunications: U Mobile
§ Media: Ananda may
re-list Astro by end-September
§ Economy: Additional
RM13.8bn opex unlikely to widen deficit
§ Economy:
Malaysian GDP to grow at 2% in 2012
Global news
§ US: Signs
of weakness mount on confidence, output
§ US: Manufacturing
in New York
§ Europe : Greek
pro-bailout parties secure ruling majority
§ Europe : Euro
leaders signal softening on Greek austerity as summit looms
§ Europe : Hollande
bolstered as Socialists win French Parliament control
§ Europe : Exports
fell for second straight month in April
Our on-line
trading portal at www.ecmmoney.com
