News Bits | 13 June 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)                                                                                        

l  Results Note: ASTRO

l  Company Update: MPHB

l  Quick Bites: BENALEC, HARTA

l  On Our Radar: KGB

l  On Our Technical Watch: ASTRO, TAGB

 

NEWS HIGHLIGHTS

l  Bank Muamalat achieves a historical high PBT for FY ended March 2013

l  HwangDBS 3Q profit falls 38.0% to RM11.4m

l  Genting mulls RM3.0b facelift for Genting Highlands

l  CIMB Bank proposes RM10.0b debt notes

l  MSM Malaysia to raise sugar output by 36.0% to 1.5m tonnes

l  Sarawak Cable bags RM32.9m contract

l  Melati Ehsan unit ventures into money lending

FOREIGN NEWS HIGHLIGHTS

l  Boeing, Bell awarded USD4.9b contract for 99 V-22s

l  Clearwire board backs Dish’s bid over Sprint’s lower offer

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Asia Pacific

l  India’s Slower Industrial Growth Adds Policy-Change Pressure

l  Fitch Revises India Rating Outlook to Stable in Boost for Singh

l  RBNZ Holds Key Rate As Wheeler Targets Strong Kiwi, Housing

USA

l  Inflation At 53-Year Low Belies U.S. Demand Vigor

l  Budget Deficit in U.S. Widened in May As Spending Increases 10%

Europe

l  UK Unemployment Falls By 5,000

l  Euro-Area Industrial Production Unexpectedly Gain On France

Currencies

l  Jakarta Intervenes To Prop Up Rupiah

l  India Moves To Stem Rupee Fall

l  Dollar Slips More Vs. Yen In ‘Emotional’ Market

Commodities

l  US Oil Production In Largest Ever Single-Year Increase

l  Brent Crude Falls Towards $102 As U.S. Oil Inventories Climb

l  Gold Rebounds From 3-Week Lows As Equities Slide