Thursday, July 25, 2013

News Bits | 24 July 2013


IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)
l  Results Notes: MAHB, PBBANK
l  Quick Bites : CRESNDO, PERDANA
l  On Our Technical Watch: MAGNUM, OLDTOWN
 
NEWS HIGHLIGHTS
l  Tanjung Offshore to issue new shares to fund acquisitions
l  Kinsteel secures rights to mine iron ore in Pahang
l  IHH Healthcare sells Gleneagles CRC for RM13m
l  Tropicana Corp proposes private placement to fund land acquisitions
l  PIDM records RM263m in revenue for FY12
l  Unconditional offer for Microlink
l  Trinity to start build-then-sell projects
FOREIGN NEWS HIGHLIGHTS       
l  Strong iPhone sales buoy Apple's Q3, shares climb
l  Brookfield Asset raises USD4.4b to buy real estate
 
ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)
Global
l  Emerging Markets Gain Clout At IMF Amid Faster Growth Trends
l  IMF Promises Greater Openness
Malaysia
l  Second Finance Minister Says H1 GDP Growth At 5%
Asia
l  Japan Consumers Haven't Been This Confident In 7 Years
l  China Eyes Fresh Stimulus As Economy Stalls, Sets 7pc Growth Floor
l  Singapore Cuts 2013 Inflation Outlook
l  Investment Growth Slows In Indonesia
North America
l  U.S. House Prices Climbed 7.3% In Year Through May
l  Canada May Retail Sales Gain Fastest In 3 Years On Autos
Europe
l  Euro Zone Consumer Confidence Nears 2-Year High In July
l  UK Export Activity At Highest Level Since 2007, Says BCC
l  French Business Confidence Rises To Highest In 15 Months
l  Bunds Fall As China Growth Pledge Damps Safety Demand
Currencies
l  Dollar Falls In Low Trade On Richmond Fed Surprise
Commodities
l  Brent Edges Higher, Supported By Spread Trade
l  Gold Rises To 1-Month High On Options-Related Buying
 
Kenanga Coverage Rating Summary - (Please refer to the attached)