Tuesday, December 18, 2012

News Bits | 18 Dec 2012


Kenanga Today
IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)
l  Market Strategy: 1Q13 Investment Strategy
l  On Our Radar: TOMEI
l  Technically Speaking: QL, LMCEMNT
 
NEWS HIGHLIGHTS
l  Silk registers 1QFY13 net profit RM2.8m, stays cash positive
l  TA Enterprise 3Q net profit rises 187% YoY
l  Magni-Tech earned 16% more in net profit
l  UEM in RM17.5b Turkey job
l  Khazanah selling 45% stake in Time Engineering
l  Magna Prima acquires PJ land for RM23.0m
l  Metronic board shake-up
 
FOREIGN NEWS HIGHLIGHTS
l  U.S. agency sues JPMorgan over mortgage securities
l  Deutsche bank employees are said to seek jail release
 
ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)
Asia
l  LDP Landslide Win Clears Pipes For Japan Fiscal Spigot
l  India Cuts Growth Forecast
USA
l  Obama And Boehner Meet As Fiscal Cliff Talks Pick Up
l  Foreign Share In US Debt At Record High
Europe
l  Greece's Lenders Warn Of 'Very Large' Risks To Bailout
l  Euro-Area Exports Fall For A 2nd Month
Currencies
l  Dollar Jumps To 19-Month High Vs. Yen
Commodities
l  Oil Near $108, U.S. Fiscal Talks Eyed
l  Gold Ends Near Flat, Capped By Us Budget Talks Progress