News Bits | 13 May 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Sector Update: Plantation

l  Results Note: PETGAS

l  On Our Portfolio: Strong liquidity-driven rally

l  On Our Technical Watch: Weekly Technical

 

NEWS HIGHLIGHTS

l  SapuraKencana awarded RM60.0m Petronas Carigali contract

l  Faber 1Q profit falls 30.0% on lower revenue, higher wages

l  OSK Property 1Q net profit falls 47.4%

l  Hytex to develop wind farm with China’s Gezhouba

l  HK PE fund emerges in Asia Bioenergy

l  Hiap Huat to buy 7 suites for RM11.2m

l  Minetech aims to raise at least RM6.0m

FOREIGN NEWS HIGHLIGHTS

l  Kuwait Airways to sign USD3.0b-plus Airbus deal

l  Penn National battles MGM again with D.C. casino plan

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Asia

l  G-7 Intensifies Japan Focus Signaling Acceptance Of Yen’s Fall

l  China’s New Loans Pass Estimates, Sign Of Growth Support

l  China Currency Regulator Scraps Some Foreign Investment Rules

l  Sharif Set To Become Pakistan Premier Again As Economy Sputters

Americas

l  Mexico Industry Output Falls Three Times More Than Forecast

Europe

l  Draghi Says ECB Considering Abs As One Of ‘Many Options’

l  Europe Seeks Fiscal Realism As Slump Prompts Pressure From U.S

Currencies

l  Central Bank To Launch New Rupiah Pricing Tool

l  Dollar Extends Rally After Topping ¥100

Commodities

l  Brent Oil Closes Higher After Late Gains

l  Gold Falls 1.5 Pct On Dollar Gain, Posts Weekly Drop