Highlights of the day
§
Economics
(External Trade): September
2012: Trade surplus shrinks as imports grow strongly [download
report]
Malaysian exports in September grew by 2.6% y-o-y
after decreasing by 4.5% in August. Imports grew by 9.6% y-o-y after a
relatively weak 2.8% growth in the previous month. As a result, net export
shrunk to RM6.4bn from RM7.1bn in the previous month. We expect net exports to
increase to RM13.22bn in October as exports continue to grow slowly and import growth
moderates. (refer to report for details)
§
Malayan
Banking (Results Review): 3QFY12:
Slightly above expectations (Maintain HOLD) [download
report]
9MFY12 results were marginally above ours and exceeded market
expectations, with profit before provisions rising 18% y-o-y on the back of 12%
loan growth. We maintain our HOLD call as the stock is trading close to our
target price of RM9.00. Maybank remains one of our preferred banking stocks for
its defensiveness and relatively strong loan growth momentum. (refer to report for details)
Other reports
Other Malaysian news
§
CIMB: Launches Aussie investment banking ops
§ UMW: UMW Toyota
investing up to RM1bn for expansion
§
F&N: Plans RM1.6bn
mixed project in PJ
§
IGB Corp: Inks 2 JV
agreements
§ iCapital.biz: Tan stays on
§
Masteel: Clinches RM6.7m
MRT steel supply deal
§
JAKS: Bags Ara Damansara
project deals
§ Tiger
Synergy: Prices 2nd tranche
§ Glove: Glovemakers
‘threaten’ overseas move
§
Investment: Malaysia
§
Economy: Malaysia
Global news
§ US: Consumer sentiment in rises to five-year high
§ Europe: Merkel
says no reasons to renegotiate Portugal
§ China
§ China
§ South
Korea: Bank
of Korea
§ Indonesia:
Bank Indonesia
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