News Bits | 29 Jan 2013

IDEAS OF THE DAY

l  Initiating Coverage: PADINI

l  On Our Portfolio: Volatility Increased

l  On Our Radar: MKLAND

l  On Our Technical Watch: GPRO, TWSPLNT

 

NEWS HIGHLIGHTS

l  Petronas aborts RSC award

l  Daya Materials secures RM228.0m building job

l  SPK Sentosa unit bags RM143.0m job

l  Hua Yang plans RM1.5b mixed project in Puchong

l  Maybank injecting USD100.0m in the Philippines

l  KBB buys stake in China's Tianxia

l  Minority Shareholders Watchdog Group to check on complaints from minority shareholders of Bright Packaging

FOREIGN NEWS HIGHLIGHTS

l  Hess exits storage, refining; fund may seek board seats

l  Goldman Sachs to raise USD1.0b selling stake in ICBC

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Asia

l  Abe Predicts Bump In Revenue As Japan Emerges From Recession

l  Singapore Manufacturing Investments Seen Slowing

l  China December Industrial Profits Up 17% On Year

l  Burma Gets Asian Development Bank And World Bank Loans

USA

l  US New-Home Sales In 2012 Reach Three-Year High

l  Durable-Goods Demand Points To U.S. Factory Pickup

l  Pending Sales Of Existing Homes In U.S. Decreased 4.3%

Europe

l  UK GDP: Economy Shrank At End Of 2012

l  Italian Consumer Confidence Declines To 17-Year L

l  Eurozone Lending Shrinks For Eighth Month

l  Euro Periphery Draws Back €100bn

l  ECB Loans: European Banks To Repay Early

Currencies

l  Dollar Clings To Gains After Economic Data

Commodities

l  Oil Rises As Hess Refinery Closure Boosts Gasoline

l  Gold Languishes Near 2-Week Low On Recovery Optimism