News Bits | 11 April 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Sector Update: Plantation

l  Quick Bites: UMW

l  On Our Radar: ZHULIAN

l  On Our Technical Watch: MAXIS, TDM

 

NEWS HIGHLIGHTS

l  RHB Bank submits plan to Bank Negara over MD of investment bank

l  EPF no longer substantial shareholder in UEM Land

l  WCT: Oman tender cancellation won't impact other projects

l  TH Plant proposes one bonus for 5 shares

l  LBS to gain RM240.0m from land sale in China

l  OSK to pay higher dividends, double operating profit

l  CLIQ Energy to acquire assets immediately after listing

FOREIGN NEWS HIGHLIGHTS

l  IAG chief says won't merge Spanish airline Vueling with Iberia

l  GM to spend EUR4.0b by 2016 on Europe units’ turnaround

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Global

l  WTO Cuts 2013 Trade Growth Forecast

Malaysia

l  Franchise Sector Targeting To Contribute Rm24bil To M'sian GDP This Year

Asia Pacific

l  China's March Trade Deficit May Signal Key Import Shift

l  Fitch Cuts China Local Currency Debt Rating

l  India Car Sales Decline For First Time In A Decade

l  Australia Consumer Confidence Falls In April

USA

l  Obama Budget Aims To Kickstart Deficit-Reduction Talks

l  FOMC Minutes Show Several Members Saw QE Over By Year-End

Europe

l  Spain's Industrial Output Falls Further

l  Italy’s Debt To Rise To Record In 2013 As Recession Lingers

Currencies

l  Ringgit Strengthens And Hits Highest Level Since Mid-January

l  Dollar Under ¥100 For Third Straight Session

Commodities

l  Brent Steadies Near $106, China Import Growth Supports

l  Gold Drops 1.5% On Fed Stimulus Fears, Cyprus