News Bits | 20 March 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Sector Update: Automotive

l  Company Update: MAYBANK

l  On Our Technical Watch: CCM, MUHIBAH

 

NEWS HIGHLIGHTS

l  Sunway wins RM304.0m carpark project

l  Hibiscus eyes drilling oil well in Oman around mid-2013

l  Maxis CEO Sandip Das to relinquish post on April 15

l  Boustead Heavy Industries gets RM15.0m army contract

l  Pestech unit receives USD2.9m purchase order

l  Boilermech 3Q profit up 58.7% yoy on higher revenue

FOREIGN NEWS HIGHLIGHTS

l  Yahoo in talks to buy stake in video site Dailymotion

l  Adobe profit tops estimates as web-software sales jump

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Malaysia

l  Malaysia On Track To Become A Developed Nation By 2020, Says PM

Asia

l  China Foreign Investment Rebounds As Confidence Returns

l  India Cuts Interest Rates For Second Time This Year

USA

l  Gains In Permits Signal Sustained U.S. Housing Rebound

l  Bernanke Tightens Hold On Fed Message Against Hawks

Europe

l  Cyprus Rejects Deposit Levy In Blow To European Bailout Plan

l  German Investor Confidence Unexpectedly Rises To 3-Year High

l  UK Inflation Rate Nudged Up To 2.8% By Rising Fuel Costs

Currencies

l  Euro Drops As Cyprus Rejects Bailout Terms

Commodities

l  Brent Oil Falls 2 Pct To 3-Month Low On Cyprus Fears

l  Gold Holds Firm After Cyprus Parliament Rejects Tax