News Bits | 5 Sept 2012

Highlights of the day

§  Malaysia Market Strategy: 2QCY12 Results Review [download report]

Generally, 2QCY12 results of companies under coverage were within our and market expectations. We downgraded 6 stocks for the quarter and only upgraded one stock, which is Top Glove Corporation. Most of the sectors’ results were within house and consensus estimates except property, automotive, oil & gas and plantation which fell short of our expectations.

Other reports

§  Newz Bits [download report]

 

Other Malaysian news

§  DiGi: Enhance prepaid packages for youth

§  AirAsia: Leases more planes from ICBC

§  MAS: Firefly looking to buy new planes

§  Time dotCom: Invest RM100m in new home broadband service

§  UM Land: Seleksi Juang has 97.9% of UM Land

§  Petron Malaysia: No intention to delist

§  Kimlun Corp: To refill order book

§  Favelle Favco: Bags RM90m contracts

§  Oil & Gas: Government help sought in APH issue

§  Property: Will do better in 2H2012

§  Construction: CIDB sees RM120bn projects in 2013

§  Rubber gloves: Plans RM500m automation

§  Rubber gloves: Set to get a boost 

Global news

§  US: Manufacturing shrinks for third month

§  US: Markit US manufacturing was 51.5 in August

§  US: August auto sales up

§  US: Small-business borrowing rose modestly in July

§  Australia: RBA holds key rate as economy withstands global slowdown 

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