Highlights of the day
§
Economics
(Consumer Price Index): August
2012: Not even Raya could push inflation up [download
report]
August consumer price index maintained its pace at
1.4% y-o-y growth from the previous month. While food inflation did accelerate
during the month of Ramadan which caused moving seasonality, the increase was
offset by decelerating inflation and deflation in other components of the CPI.
August core inflation dropped further to 1.1% y-o-y from 1.3% in July. We
expect headline inflation to drop to 1.2% y-o-y while the core inflation to
remain at 1.1% in September 2012.
§
Economics
(Leading Economic Indicator): July
2012: We are already in a (mildly) rough patch [download
report]
July leading indicator grew faster by growing 2.3% y-o-y from 2.0%. So,
the Malaysian economy may set to grow comfortably. The coincident index for the
month however painted a different picture as it stagnated on y-o-y basis and
declined by 0.6% m-o-m. Together with bad export figures and weak industrial
production data, this is suggestive of a relatively weak 3Q2012 in terms of
real GDP growth. At the moment, we are expecting 2012 real GDP to grow by 4.6%.
Other reports
Other Malaysian news
§
IPO: Astro
sets price range for RM4.56bn IPO
§
Genting: To
reduce stake in Aussie casino
§ AirAsia: Expedia JV
sees online purchase boom
§
Berjaya Land : In Japan
§ Tradewinds
Plantation: Acquire 50,000ha over 5 years
§ WCT: Leads race
for RM700m job
§ Mah
Sing: Seeking more land
§ KNM: Gets RM100m to acquire UK
§ OldTown: Plans
private placement to fund capex and working capital
§
Cocoaland: Investing
RM74m to raise output
§ Petra
§ Poh
Kong: Eyes Asean marts
Global news
§ US: Housing
starts climbed 2.3% to 750k annual rate
§ US: Sales
of previously owned homes increase
§ Europe: Greece
§ Europe : BOE
unanimous on QE amid divisions on inflation risks
§ Japan: Bank
of Japan
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