News Bits | 14 June 2012

Highlights of the day

§  Malaysia Market Strategy: 1QCY12 Results Review [download report]

Generally, 1QCY12 results of companies under coverage were within our and market expectations. Hence, there were minimal earning revisions and recommendation change. Most of the sectors’ results were within house and consensus estimates except construction, building materials and plantation sectors which fell short of our expectations.

Other reports

§  Newz Bits [download report]

Other Malaysian news

§  Felda Global: Prices IPO near top of range

§  KPJ: Plans to conclude 2 acquisitions by year-end

§  AirAsia: Makes Jakarta its regional base, eyes five more regional tie-ups

§  AirAsia: New CEO?

§  MMC Corp: Malakoff may be looking at RM3bn IPO

§  MSM Malaysia: Converting sugar cane plantation to rubber estate

§  Wah Seong: Eyes Petra Energy

§  Starhill REIT: Buys Aussie hotels

§  Green Packet: P1 close to financing deal

§  TRC: Gets RM194m contract from Bintulu Port

§  Bina Puri: To build and operate hydro plant in Sulawesi

§  Fajarbaru Builder: Eyes MRT deals

§  IPO: Kencana Capital a cornerstone investor of IHH

§  Construction: MRT’s RM1.6bn tender gets disappointing response

§  Power: Kerteh bio-refinery complex to be operational by 2014

Global news

§  US: Drop in retail sales points to slower growth

§  US: Wholesale prices fell 1% in May on cheaper energy

§  Europe: Industrial output fell second month in April

§  Europe: Spain cut three steps to Baa3 by Moody’s on debt level

§  Europe: Italy holds first bond sale after Spain rescue as yields surge

§  Thailand: Central bank holds rate a third time as risks to growth increase

Visit ECM Libra at https://www.ecmlibra.com/ecmlsmy

Our on-line trading portal at www.ecmmoney.com