News Bits | 7 March 2013

IDEAS OF THE DAY

l  Sector Update: Plantation

l  Company Update: STAR, SUPERMX

l  Quick Bites: QL

l  On Our Radar: TOMYPAK

l  On Our Technical Watch: CCM, UOADEV

 

NEWS HIGHLIGHTS

l  Puncak Niaga: No decision on sale of stakes (Comments included in Kenanga Today)

l  India approves AirAsia's USD15.0m JV with Tatas

l  TM’s unit faces claims of RM335.6m for alleged 'wrongful termination' of contract

l  KDEB agrees to possible higher price for KHSB shares

l  TNB will not be split into smaller companies

l  Gamuda seeks to further talks

l  FGV says its refineries in Sabah are still operating

FOREIGN NEWS HIGHLIGHTS

l  Samsung gets a foot in at key Apple supplier Sharp with USD110.0m investment

l  Time Warner Will Spin Off Time Inc. Magazine Division This Year

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Global

l  Emerging Markets' Growth Slowing, HSBC PMI Report Says

Malaysia

l  Investment Climate Still Good

Asia Pacific

l  Australia Extends Growth Run To 21 Years As Exports Pick Up

North America

l  ADP Says Companies in U.S. Added 198,000 Workers in February

l  Business Spending Improves as U.S. Profits Grow

l  Factory Orders in U.S. Fall by the Most in Five Months

l  US Growth 'Modest' but Gradual: Fed Beige Book

l  Bank of Canada Says Rate Appropriate for a Period of Time

Europe

l  Euro Exports Fell In Fourth Quarter As Slump Deepened

l  UK Car Sales Rise For 12th Consecutive Month

Currencies

l  Dollar Rises; Loonie Falls On Stimulus Signal

Commodities

l  Brent Steady Near $112, Tracking Equities, Stronger Growth Outlook

l  Gold Up, Faces Headwind From Wall Street Rally