News Bits | 10 Dec 2012

§  Economics (External Trade): October 2012: Exports contract for the fifth time this year. [download report]

Malaysian exports contracted again. October exports contracted by 3.2% y-o-y after growing by 2.6% y-o-y in September. Exports to Europe and China continued to slow down, with the only significant bright spot being exports to the US. Depressed exports of palm oil, LNG, rubber, petroleum and E&E products contributed to the contraction. Meanwhile, import growth decelerated to 5.7% y-o-y after registering a 9.6% y-o-y growth in the previous month. Import growth of capital, intermediate and consumptions goods decelerated. Net exports were approximately RM9.6bn. Although it was an improvement compared to the surplus of RM6.5bn observed in September, it was 33.5% lower from a year earlier. Our preliminary forecasts indicate that exports may grow by 2.6% y-o-y and imports may grow by 8.4% y-o-y in November. That implies a trade balance of RM7.0bn.

 

Other reports

§  Newz Bits [download report]

 

Other Malaysian news

§  DiGi.Com: Banking on mobile Internet and youth

§  Sunway: Wins Singapore tender

§  MAS: Government still looking at MASwings proposal

§  TIME dotCom: Proposes to distribute DiGi shares to shareholders

§  Media Chinese: To defer spin-off date

§  Scomi: Wins job in Myanmar

§  Berjaya Food: Buys JFPL for RM19m

§  Lion Corp: Sells shares for RM265m

§  Trinity Corp: Sells Ampang clubhouse

§  Tiger Synergy: Duo in bid to oust MD

§  Oil & Gas: Petronas gets green light for Progress deal

§  Transport: Singapore link to Tanjung Puteri land?

 

Global news

§  US: Job growth beats forecasts as unemployment falls

§  US: Michigan Consumer Sentiment declines more than forecast

§  Europe: Greek-debt buyback near target, say officials

§  China: Industrial output accelerates as inflation rebounds

§  Taiwan: Exports gain for second time in three months on China

 

 

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