Tuesday, March 26, 2013

News Bits | 26 March 2013


IDEAS OF THE DAY
l  Initiating Coverage: DIJACOR
l  Results Note: HELP
l  Quick Bites: ALAM, TRC
l  On Our Radar: DAIBOCI
l  On Our Technical Watch: CIMB, IJM
 
NEWS HIGHLIGHTS
l  West Sepat field FEED and EPCIC up for grabs (Comment included in Kenanga Today)
l  UMW bags RM45.0m contract to supply fire-fighting vehicles to MAHB
l  MBf faces threat of suspension
l  Emas Kiara in JV with Sabah govt for land development
l  Kuok Brothers buys 22.3% of Shangri-la Hotels
l  KKB Engineering associate is Petronas supplier
l  ETI Tech unit fails to repay loan of RM11.7m
FOREIGN NEWS HIGHLIGHTS
l  Icahn opens door to Blackstone tie-up on Dell bid
l  Li Ning has wider-than-expected loss as sales slump second year
 
ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)
Malaysia
l  Construction Industry To Grow By 11%
l  PM Announces More Benefits To Staff Of Statutory Bodies
Asia
l  Foreign Ownership Of Japanese Govt Debt Falls
l  South Korea Escalates Concern With Japan Policies On Yen
l  Vietnam Central Bank Trims Key Rates To Stimulate Economy
USA
l  Bernanke Defends Continuing Low Interest Rates
Europe
l  Cyprus Agrees Deal On €10bn Bailout
l  Japan, European Union Announce Free Trade Talks To Start April
l  Mortgage Lending Fell In February, Say UK Banks
Currencies
l  Euro Drops As Cyprus Bailout Spooks Depositors
Commodities
l  Brent Climbs Above $108 After Cyprus Rescue Plan Approved
l  Gold Down As Cyprus Bailout Deal Ease Market Fears