News Bits | 28 August 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Results Note: CARLSBG, DLADY, ENGKAH, IHH, IJM, IJMPLNT, IJMLAND, MAHSING, MPI, PARKSON, SENDAI, TAANN, UOADEV

l  Quick Bites: PERDANA

l  On Our Technical Watch: E&O, LAFMSIA

 

NEWS HIGHLIGHTS

l  Lion Corp posts RM9.9m net profit in Q4

l  Asas Dunia gets takeover offer

l  PBB sees good returns from Puteri Harbour

l  Cost cuts said to be in the offing at Maxis, could include staff reduction

l  Hartalega targets emerging markets

FOREIGN NEWS HIGHLIGHTS           

l  TiVo posts USD268.9m profit boosted by settlements

l  OGX struggles as Petronas holds up deal, fields returned

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Malaysia

l  Fiscal Policy Panel Meeting To Discuss Nation's Economic Position

l  Bank Negara Says No Need Yet To Intervene In Forex Market

Asia

l  Japan’s Debt-Funding Costs To Hit US$257bil

USA

l  US House Prices Continue Strong Growth

l  Consumer Confidence Index In U.S. Increases To 81.5

Europe

l  UK Service Sector Activity And Confidence Rise, CBI Survey Finds

l  German Business Confidence Rises To Highest In 16 Months

l  Dutch Government Agrees To Another $8 Billion In Budget Cuts

Currencies

l  Japanese yen, Swiss franc gain on Syria worries

Commodities

l  Brent Hits 6-Month High As West Weighs Strike On Syria

l  Gold Rises 1 Pct On Safe-Haven Bids, Syria Fears

 

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