News Bits | 25 June 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Sector Update: Telecommunication

l  On Our Radar: GHLSYS

l  On Our Technical Watch: ASTRO, NTPM

 

NEWS HIGHLIGHTS

l  Bank Negara said to be relooking at risks involved in popular, easy developer interest-bearing scheme (Comments included in Kenanga Today)

l  Tenaga, Sime Darby Plantation in biogas JV

l  Ex-Johor MB Abdul Ghani appointed Sime Darby chairman

l  KL Kepong clears the air over forest fires in Riau

l  Bina Puri fixes issue price of 2.0m placement shares at RM1.00 each

l  Ariantec bags RM32.1m broadband project in Riau

l  Green Packet “open to strategic sale” of P1

l  Luster writes to Kedah govt on Kuala Muda port

FOREIGN NEWS HIGHLIGHTS

l  EU clears ICE's USD8.2b takeover of NYSE Euronext without conditions

l  Tesla takeover turns tenuous given valuation

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Malaysia

l  World Bank Sees Solid Growth For Malaysian Economy

Asia

l  China Beige Book Shows Fewer Companies Borrowing as Rates Rise

USA

l  Bond Fund Outflows Hit Record Level on Tapering Fears

Europe

l  German Business Confidence Rises In June

l  UK Housing Report Critical Of Government 'Short Termism'

Currencies

l  Iran Rial Gains 15% Since Rohani Win On Optimism For Thaw

l  Dollar Tapers Gains After Dovish Fed Speeches

Commodities

l  Oil Ends Up, Off 3-Week Low As Canada Floods Threaten US Imports

l  Gold Down 1 Pct On China Fears, Wall St Margin Calls