News Bits | 19 Dec 2012

Kenanga Today

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Sector Update: Banking, Oil & Gas, Utilities, Consumer (F&B), Non-Bank Financials

l  1Q13 Top Picks: AIRPORT, GAMUDA, KOSSAN, MAYBANK, NESTLE,  P&O, SKPETRO, TM, UMW, UOADEV

l  Results Note: BJTOTO

l  Technically Speaking: INSAS, PERDANA

l  Economic Viewpoint: Economic Outlook 1Q2013

 

NEWS HIGHLIGHTS

l  Poh Kong registers RM11.7m profit for 1QFY13

l  Tenaga bidding for 2 coal-fired power plants

l  AirAsia X CEO: No intention to mislead in website pricing

l  MAS inks MoU to buy 36 planes worth RM3.0b

l  Bumi Armada's unit secured USD276.4m term loan

l  Bank Muamalat's gross financing rises to RM10.1b in 1H

l  Bina Puri concession cancelled

l  Prestariang gets O&G training job

 

FOREIGN NEWS HIGHLIGHTS

l  Wal-Mart seen facing sizable fines in U.S. bribery probe

l  Billabong gets Aud527.0m bid from Sycamore, Naude

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Asia

l  BOJ Mulls 2% Inflation Target

l  China Home Prices Gain In Majority Of Cities As Curbs Stay

l  China Foreign-Investment Declines For 12th Time In 13 Months

l  China’s Treasuries Rise To Five-Month High As Japan Keeps Pace

l  India Holds Rates But Signals Cut Soon

l  Reserves At $100 Billion Shield Lira As Bonds Win

USA

l  Obama Makes New Fiscal Cliff Tax Offer As Talks Pick Up

l  Bank Deposits Surge $2 Trillion More Than Loans

l  Homebuilder Confidence Rises To Highest Level Since 2006

l  Current-Account Deficit In U.S. Narrowed 9% In Third Quarter

Europe

l  S&P Raises Greece's Credit Rating

l  UK Inflation Unchanged At 2.7% In November

l  Swedish Central Bank Cuts Rat

Currencies

l  Dollar Softens As Cliff Hopes Boost Risk Appetite

Commodities

l  Oil Rises On 'Fiscal Cliff' Optimism, Refinery Issues

l  Gold Steadies As US Budget Talks Progress Lifts Stocks