News Bits | 27 March 2013

IDEAS OF THE DAY

l  Market Strategy: 2Q13 Investment Strategy

l  Quick Bites: QL, SIME

l  On Our Technical Watch: KSENG, MBSB

 

NEWS HIGHLIGHTS

l  SC approves Sunway unit's medium term note programme

l  DRB-Hicom, Saab AB ink MoU

l  Bland Q3 profit falls to RM83.0m

l  Poh Kong 2Q profit falls

l  Ingress net profit down due to poorer results from division           

l  Teck Guan Perdana posts pretax loss of RM15.9m  

l  ECS inks deal with CA Technologies

l  Ygl unit bags RM6.1m project

FOREIGN NEWS HIGHLIGHTS

l  Protective Life in lead for AXA US insurance assets

l  Lukoil to MTS Lift Micex Payout to 4-Year High

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Global

l  BRICs Nations Plan New Bank To Bypass World Bank, IMF

Malaysia

l  Malaysia’s Aerospace Industry Grew 9.4% In 2012

l  Malaysia Is Asia's Top Investor In Africa

Asia

l  China, Japan, S. Korea Open Free Trade Talks

l  BOJ's Kuroda Signals Targeting Longer-Dated JGBs

l  South Korea Q4 GDP Growth Revised Down To 0.3%

l  Singapore February Industrial Output Drops More Than Expected

l  Singapore February Inflation Up 4.9% From Year Earlier

USA

l  Orders for U.S. Durable Goods Rise More Than Forecast

l  Home Prices in 20 U.S. Cities Climb by Most Since June 2006

l  Sales of New Houses in U.S. Cap Best Two Months Since 2008

l  US Budget Cuts 'Hit Consumer Sentiment'

Europe

l  Bank Of Spain: Economy To Sink Deeper Into Recession

l  Cyprus Making 'Superhuman' Effort To Reopen Banks By Thursday

Currencies

l  Euro Seesaws After Cyprus-Spurred Selloff

Commodities

l  Brent Slips Towards $108 On Worries Over Cyprus, Euro Zone Oil Demand

l  Gold Falls For 3rd Day On Euro Calm, Bright US Data

 

Kenanga Coverage Rating Summary - (Please refer to the attached)