News Bits | 3 Jun 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Sector Update: Rubber Gloves

l  Results Note: ASIABRN, MASTEEL, MUHIBAH, SIME

l  Quick Bites: YINSON

l  On Our Portfolio: In a Consolidation Phase Last Week

l  On Our Technical Watch: Monthly Technical Review

l  Economic Viewpoint: Money Supply & Loans growth April

 

NEWS HIGHLIGHTS

l  Higher Johor property tax on foreigners not a concern (Comment included in Kenanga Today)

l  Petron 1Q profit falls 63.0% to RM30.8m

l  Litrak 4Q bounces from y-o-y losses

l  TH Plant 1Q profit plunges 75.0% yoy

l  IJM unit signs share sales deal

l  Star Publications units to acquire 90.0% stake in Ocision for RM13.5m

l  Kulim eyes 60.0% stake in Danamin

l  PJD to buy land in PJ for RM124.2m

l  GPacket unit plans to sell land, office building

FOREIGN NEWS HIGHLIGHTS

l  DirecTV, two others bid over USD1.0b for Hulu

l  Singapore Air buys planes to take on discount carriers

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Asia

l  Japan Deflation Ebbs, Output Up

l  Abe Offers $32 Billion To Africa As Japan Seeks Resources

l  South Korea’s May Exports Unexpectedly Rise On Smartphone Sales

l  China Manufacturing Tops Estimates In Sign Growth Is Stabilizing

l  India's Economic Growth At Slowest Rate In A Decade

USA

l  US Consumer Sentiment Rallies To Six-Year High In May

l  US Consumer Spending Falls For The First Time In A Year

Europe

l  Eurozone Unemployment Reaches New Record High In April

l  IMF Approves Greek Disbursement And Seeks Better Tax Collection

Currencies

l  Dollar Boosted By Strong Data, Drops Vs. Yen

Commodities

l  Brent Holds Above $102 On Weak Dollar; US Crude Stockbuild Weighs

l  Gold Falls 1.6 Pct, Notches Second Sharp Monthly Loss