News Bits | 30 Oct 2012

Highlights of the day

§  Gadang Holdings Bhd (Company Update): Meeting with management reaffirms Trading Buy (Maintain TRADING BUY, TP: RM1.00) [download report]

Our meeting with Gadang’s management yesterday reaffirms our Trading Buy and target price of RM1.00.  Despite yesterday’s weak 1QFY13 results, earnings should pick up strongly from 2QFY13 onwards, and our initial estimate of at least 10 sen EPS in FY13 from construction division alone is on track. (refer to report for details)

 

Other reports

§  Newz Bits [download report]

 

Other Malaysian news

§  Petronas Chemical: Discontinues vinyl business

§  DRB-Hicom: Proton to collaborate with Honda

§  Maybank: Indonesia operations post record profit

§  CIMB: CIMB Niaga records 30% rise in net profit

§  Petronas Gas: Delay in operations of RGT in Malacca

§  IOI Corp: To start China project next year

§  Aeon Co: May announce Carrefour buy this week

§  Sarawak Oil Palms: Mulls plantations abroad

§  Mudajaya: Wins RM65m contract

§  Scomi Group: Abu Sahid strengthening control 

§  O&G: Lundin makes third gas discovery offshore Sabah

§  O&G: Petronas to renew bid for Progress

§  Construction: More MRT jobs awarded 

 

Global news

§  US: Consumer spending rises by most in seven months

§  US: Treasury lowers borrowing estimate by US$29bn

§  US: Labor Department will wait to decide on employment report status

§  Europe: Germany supports ECB Greek debt buyback plan, rejects write-off

§  Europe: Rajoy counters bailout split with Monti urging banking union

§  Europe: Juncker calls extra finance chief talks as Greece showdown looms

 

  

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