News Bits | 30 April 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Initiating Coverage: DAYANG

l  Results Note: CIMB Niaga, MPI

l  On Our Radar: SPRITZR

l  On Our Technical Watch: PESTECH, MFLOUR

 

NEWS HIGHLIGHTS

l  Tasek Corp 1Q profit falls 12.8% on intense competition

l  Southern Steel turns around in 3Q with RM18.3m profit

l  Chin Teck 2Q profit plunges 94.0% to RM535,000

l  PLB Engineering 2Q posts 182.0% jump in profit

l  BTM’s unit sells boiler for RM4.2m

l  Sunway subsidiary awarded RM222.0m contract

l  Ninian Lourdenadin set to complete MBf buyout

FOREIGN NEWS HIGHLIGHTS

l  Sprint seeks details from Dish on takeover proposal

l  ANZ Bank first-half cash profit rises 10.0% as expenses drop

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Malaysia

l  Zeti: Malaysia On Track For 5%–6% GDP Growth

l  Malaysia Gets High Marks From IMF

l  62% Of Businesses In M’sia Find It Hard To Source Skilled Workers

Asia

l  IMF Flags Risk Of "Middle-Income Trap" In Emerging Asia

l  IMF Warns Over Strong Capital Inflows Into Asia

USA

l  US Consumer Spending In March Beats Forecasts

l  Pending Sales Of Existing Homes In U.S. Climbed 1.5% In March

l  U.S. Sees First Debt Reduction Since 2007 As Revenue Rises

Europe

l  Eurozone Economic Sentiment Hits 4-Month Low In April

l  German Inflation Rate Plunges To Lowest In More Than Two Years

l  Italy Pm Enrico Letta Says Growth Policies A Priority

l  Greece Passes Reform Law To Unlock More EU/IMF Rescue Loans

Currencies

l  Dollar Loses More Steam After Weak Data

Commodities

l  Brent Slips Under $103 On Murky Global Economic Outlook

l  Gold Up On Cenbank Stimulus Hopes, Eyes Fed Meeting