News Bits | 16 October 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  IPO Note: Westports Holdings Berhad

l  On Our Technical Watch: JETSON, TEBRAU

 

NEWS HIGHLIGHTS

l  Icon Offshore aims to raise RM450.0m from IPO

l  Bright Packaging to raise RM47.0m

l  Encorp wins contract

l  Jamaludin may succeed Liew as SP Setia chief

l  OSK sells 7.0m Green Packet shares

FOREIGN NEWS HIGHLIGHTS           

l  Alibaba earnings more than double on surging e-commerce

l  SoftBank buys USD1.5b stake in Finnish mobile games maker Supercell

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Asia

l  China Inflation Rate Rises On Higher Food Prices

l  China Forex Reserves Jump Most Since 2011

l  India's Inflation Rate Hits Seven-Month High

USA

l  U.S. AAA Rating Put On Negative Watch By Fitch On Delayed Budget

l  Democrats Reject Proposed Us House Fiscal Plan

Europe

l  Eurozone Industrial Output Strengthens In August

l  UK Inflation Rate Unchanged At 2.7% In September

l  UK Eases Rules For Chinese Trading

l  Irish Budget: Spending Cuts And Tax Rises To Save 2.5bn Euros

Currencies

l  Dollar Mixed Ahead Of Debt-Limit Deadline

Commodities

l  Oil Price Falls Amid US Debt Deal Talks

l  Gold Rises As US Budget Impasse Triggers Safe-Haven bids

 

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