News Bits | 28 March 2013

IDEAS OF THE DAY

l  Sector Update: Banking, Non-Bank Financials, Oil & Gas, Utility and Property Developers

l  2Q13 Top 10 Stocks Picks: AMBANK, KOSSAN, MPHB, P&O, PPB, SKPETRO, TCHONG, TENAGA, TM and UEMLAND

l  Results Note: HAIO

l  On Our Radar: GBGAQRS

l  On Our Technical Watch: CIMB, MAYBULK

 

NEWS HIGHLIGHTS

l  Berjaya Corp reports lower Q3 pre-tax profit of RM96.9m

l  TA Global posts lower profit in FY2013

l  Scientex's Q2 net profit stretches to RM25.6m

l  Nam Cheong sells six vessels, expects robust order book

l  Toyo Ink gets Hanoi power deal

l  PJI Holdings lands RM207.0m property development project in Kota Kinabalu      

l  KSK exec chairman proposes selective capital repayment of 65 sen a share

FOREIGN NEWS HIGHLIGHTS

l  Credit Suisse buys Morgan Stanley's European wealth arm

l  VTB Group to acquire Tele2’s Russian phone unit for USD2.4b

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Malaysia

l  M’sia-Australia Strong Trade Growth Seen To Continue

Asia Pacific

l  Indonesia Panel Approves Martowardojo As Central Bank Chief

l  Vietnam Economic Growth Slows In January-March

l  Investment Grade Rating For Philippines

l  China And Brazil Sign $30bn Currency Swap Agreement

l  Australia To Scrap Panel Setting Interbank Lending Rate

North America

l  Pending Sales Of U.S. Existing Homes Decline 0.4%

l  Canada Consumer Prices Post Fastest Increase Since 1991

Europe

l  As Cyprus Burns, Brussels Wants 11 Billion Euros More

l  Moody's Cuts Country Ceilings On Cyprus

l  BOE Says U.K. Banks Have A Capital Shortfall Of $38 Billion

Currencies

l  Dollar Gains As Italy ‘Mess’ Puts Euro Below $1.28

Commodities

l  Brent Steady Above $109, Robust U.S. Data Supports

l  Gold Edges Up On Euro Zone Fears, Fed Stimulus Hopes