News Bits | 25 Feb 2013

l  Results Note: HLBANK, PPB-Wilmar, QL, SEB, UOADEV

l  Quick Bites: UMW

l  On Our Portfolio: Another challenging week ahead

l  Economic Viewpoint: Malaysia Ext. Reserves Mid-Feb ’13.

 

NEWS HIGHLIGHTS

l  Bumi Armada plans RM3.0b capex

l  MSM Malaysia pre-tax profit falls to RM285.0m

l  Allianz 4Q net profit up 32.4% to RM849.8m

l  AirAsia taps on strong financial muscle of Tata & Telestra

l  KLIA2 to be ready by May despite deferred opening

l  UDA to launch 19 property projects with GDV of RM1.6b

l  Bursa reprimands Can-One, fines 7 directors RM350.0k

FOREIGN NEWS HIGHLIGHTS

l  MSC Industrial to enter Canada with USD550.0m Barnes unit buy

l  BHP says cost cutting needed to meet falling demand for minerals

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Asia

l  Singapore Growth Exceeds Estimates In Fourth Quarter

l  Indonesia Central Bank Choice Elicits Mixed View

l  China To Increase Fuel Prices For First Time Since September

l  China Home Prices Rise As Property Curbs Loom

l  Vietnam Inflation Rate Eases As Economy Struggles To Revive

USA

l  Americans Back Spending-Cut Delay Amid Budget-Deal Push

Europe

l  UK Loses Top AAA Credit Rating For First Time Since 1978

l  Eurozone Downturn And Deficits To Persist, Commission Says

Currencies

l  UK And China Poised For Currency Swap Deal

l  Euro Falls As The Dollar Gains For The Week

Commodities

l  Oil Slightly Higher For Day, Down For The Week

l  Gold Posts Second Weekly Loss On Economic Hopes