News Bits | 4 December 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Initiate coverage: WPRTS

l  Company Update:  SUPERMX

l  Quick Bites: PERDANA

l  On Our Technical Watch:  BENALEC, MAYBULK

 

 NEWS HIGHLIGHTS

l  Glomac Q2 net profit surges on sale of Aussie block

l  Axiata expects XL-Axis merger to rake in 15% revenue

l  Bumi Armada eyes more jobs in African region

l  Malaysia Airports eyes stake in Istanbul airport

l  Silverland joins Metier in RM250m Kinta project

l  M'sia CPI seen rising 3% following electricity tariff increase

 

FOREIGN NEWS HIGHLIGHTS           

l  Westfield, WRT to combine, spin off Australia, NZ shopping malls

l  Ryanair has not offered to take part in Alitalia cash call

l  Morgan Stanley queried by SEC over accounting mistakes

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS) 

Malaysia

l  Moody's Justifies Positive A3 Rating For M'sia Based On Fiscal Consolidation And Reforms

Asia Pacific

l  Singapore Nov PMI Eases On Slower Production, New Orders

l  Japan Salaries Extend Slide As Inflation Begins To Take Root

l  Australia Leaves Rates Steady, Warns On Aussie Dollar

Americas

l  US Auto Sales Rise In Nov Boosted By Discounts

l  Brazil's Economy Shrinks 0.5% In The Third Quarter

Europe

l  UK Construction Growth Fastest Since August 2007

l  Euro Zone Factory Prices Slump To Nearly 4-Yr Low In October

Currencies

l  Dollar Falls Broadly, Retreats Below ¥103

Commodities

l  Brent Steady Above $111 On Stronger Demand Outlook For Oil

l  Gold Rises After Sliding Early To Five-Month Low

 

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