News Bits | 7 June 2012

Highlights of the day

§  Economics (External Trade): April 2012: Has the European woe reached Malaysia? [download report]

April Malaysian exports contracted for the second consecutive month due to European troubles. Exports contracted by 0.1% y-o-y. We project exports and imports to grow by 1.0% and 7.0% y-o-y in May with RM5.79bn worth of trade surplus.

Other reports

§  Newz Bits [download report]

Other Malaysian news

§  MISC: ‘Not exiting’ NCB Holdings

§  MMHE: Ends drought

§  Atlan Holdings: Sells Kapar assets for RM12.5m cash

§  Masterskill: Diversifies to stem fall in earnings

§  Daya Materials: To form JV in Sri Lanka      

§  IPO: IHH in talks with Kuwait funds

§  Oil & Gas: Six local firms bag US$300m Aussie deals

§  Oil & Gas: GE awarded US$150m Petronas job

Global news

§  US: Fed says expansion was ‘moderate’ in May with steady hiring

§  Europe: Investment drop offset export gain as GDP growth stalls

§  Europe: Draghi says ECB stands ready to act as growth outlook dims, rate left at 1%

§  Europe: German, Spanish factory output drops more than forecast

§  South Korea: South Korea GDP expands 0.9%, unchanged from initial estimate

§  Australia: Economy plows ahead on mining boom

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