News Bits | 12 July 2012

Highlights of the day

§  Economics (Industrial Production Index): May 2012: Stronger growth partly due to mining production recovery [download report]

May industrial production index grew faster at 7.6% y-o-y compared to the previous month partly due to mining production recovery. Other components grew more modestly but faster than they did in April. May also appeared to be a good month for production and exports for multiple countries across Asia. This may not be sustainable. Our initial expectation is for the IPI in June to grow slower at 5.4% y-o-y.

Other reports

§  Newz Bits [download report]

Other Malaysian news

§  Sime Darby: RM800m sales for property campaign             

§  E&O: Penang government is seeking more land   

§  Mudajaya & Gadang: More MRT jobs awarded     

§  KSK: To grow insurance businesses in Indonesia, Thailand

§  CB Industrial: Unit bags Indonesia job

§  Trinity: Reveals more info on land sale  

§  Banking: India International Bank eyes India-Malaysia trade flows

§  Property: Prasarana plans several Klang Valley developments

§  Telco: Maxis gets suitors for India business

Global news

§  US: Wholesalers lift stockpiles at slower pace as sales fall

§  US: Trade gap narrows as imports decreased

§  US: Some on FOMC said more stimulus probably will be needed

§  US: Mortgage applications fell last week

§  Europe: Rajoy outlines EUR65bn cuts as protests hit Madrid

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