News Bits | 22 March 2012

Highlights of the day

§  Economics (Gross Domestic Product): BNM forecasts GDP to grow between 4% and 5% in 2012. [download report]

Bank Negara Malaysia expects the real GDP to grow between 4% and 5% in 2012. The central bank projects the domestic demand will single-handedly push the economy forward. As a reminder, our growth forecast for 2012 is 4% while the government is projecting the real GDP to growth between 5% and 6%. BNM projects inflation to be 2.5% - 3.0% in 2012.

Other reports

§  Newz Bits [download report]

Other Malaysian news

§  Bumi Armada: Clinches RM115m job

§  KFC: Plans to open 24 new outlets in Malaysia and India

§  MBSB: Abandoned project to be sold for RM150m, targets to cut NPL this year

§  Hibiscus: Gets approval to buy 35% of Lime Petroleum

§  Daya Materials: Bags RM62m construction work

§  Mitrajaya: Secures 2 contracts worth RM103m

§  MHC Plantations: Proposes bonus issue to reward shareholders

§  Texchem: To sell pesticide units to Fumakilla

§  Automotive: AP phase out deadlines stay

§  Economy: New lending guidelines to curb speculation

 

Global news

§  US: Existing home sales hold near two-year high

§  US: Obama budget raises taxes for 27% of households

§  China: Reserve ratios cut for 379 AgBank branches to boost loans

§  UK: Budget deficit doubles as taxes fall, spending jumps

§  Thailand: Rate-cut pause lifts currency as growth forecast raised

§  Thailand: Output decline eases as factories resume production

  

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