News Bits | 31 Jan 2013

IDEAS OF THE DAY

l  Company Update: MPI, SENDAI

l  Quick Bites: FAJAR, MRCB

l  On Our Radar: TEXCYCL

l  On Our Technical Watch: ITRONIC

 

NEWS HIGHLIGHTS

l  Foreign workers to pay levy instead of employers with immediate effect (Comment included in Kenanga Today)

l  IGB REIT posts RM146.9m profit

l  Al-Hadharah Boustead REIT’s earnings fall

l  Southern Steel’s 2Q loss wider than a year ago

l  Favelle Favco gets RM76.0m orders

l  Salcon bags contracts worth RM15.3m

l  APM inks JV with Thailand's Tachi

l  China Private Equity buys 5.0% in Patimas

l  Zenotec to invest RM3.1m in R&D

 

FOREIGN NEWS HIGHLIGHTS

l  Boeing sees no big impact from 787 woes, profit beats

l  Fiat profit beats estimates on narrower European losses

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Asia

l  S. Korean Output Unexpectedly Climbs On Domestic Demand

USA

l  US Growth Hit By Surprise Setback

l  Fed Keeps US Interest Rates On Hold

l  Private Sector Adds More Jobs; Services Lead Way

Europe

l  Spain's Recession Worsens In The Fourth Quarter

l  Euro-Area Economic Confidence Rises More Than Forecast

Currencies

l  Dollar Falls As Fed Stays Aggressive; Euro Climbs

Commodities

l  Oil Rises As Economic Optimism Overshadows Weak US Data

l  Gold Rises On Surprise Drop In US Growth, Fed