Monday, June 18, 2012

News Bits | 18 June 2012


Highlights of the day
§  Economics (Quarterly Economic Outlook): Third Quarter 2012:1H exhibited resilience, but 2H may be weaker  [download report]
Earlier European actions did not prevent its troubles from flaring up again. Malaysian exports to Europe have been contracting and we expect the on-going crisis to hurt Malaysian exports further down the road. The narrative of weak exports but resilient domestic economy may continue through the year. We are maintaining GDP growth for 2012 at 4%. We are reducing our inflation rate forecast to 2% due to late election. We are maintaining our OPR forecast of 3.00% by year-end. We are also maintaining our MYR/USD forecast at 2.95.

Other reports
§  Newz Bits [download report]

Other Malaysian news
§  Sime Darby: Expects Weifang port earnings to triple
§  Tan Chong: Gears for regional expansion
§  CIMB: Cambodian unit targets US$100m deposits, US$90m in loans
§  FGVH: Institutional shares of FGV fixed at RM4.55
§  Petronas Dagangan: Eyes bigger presence in Indonesia, Myanmar
§  AirAsia: New CEO will take airline into another league
§  MAS: To face shareholders’ wrath
§  MAS: To double Asia-Pacific routes
§  Wah Seong: Aims to seal oil firm buys by year-end
§  CB Industrial Product: Eyes bigger order
§  Kenanga: Buying ECM Investment Bank for RM875m
§  Sarawak Cable: Mini hydro power plan
§  IPO: Khazanah to gain RM4.9bn from the listing of IHH Healthcare
§  Construction: Shortfall in association forecast
§  Oil & Gas: Oil-tanker charter rates up on July cargoes
§  Plantation: New planting planned for Sarawak Plantation
§  Telecommunications: U Mobile, Intel, Acer tie-up to offer bundle plans
§  Media: Ananda may re-list Astro by end-September
§  Economy: Additional RM13.8bn opex unlikely to widen deficit
§  Economy: Malaysian GDP to grow at 2% in 2012

Global news
§  US: Signs of weakness mount on confidence, output
§  US: Manufacturing in New York area grew at slower pace in June
§  Europe: Greek pro-bailout parties secure ruling majority
§  Europe: Euro leaders signal softening on Greek austerity as summit looms
§  Europe: Hollande bolstered as Socialists win French Parliament control
§  Europe: Exports fell for second straight month in April

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