News Bits | 20 August 2012

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Sector Update: Media

l  Results Note: AHB, JCY

l  Quick Bites: TRC

l  On Our Radar: ECS

l  On Our Technical Watch: TNLOGIS, JTIASA

 

NEWS HIGHLIGHTS

l  Tropicana to dispose of mall, office block (Comment included in Kenanga Today)

l  MAS will not be privatised, says Najib

l  Tiong Nam 1Q profit jumps 739% to RM15m

l  Sarawak Energy to award RM1.0b deals soon

l  Hap Seng profit almost doubles

l  Tambun Indah Q2 earnings up 47.3% to RM13.98m

l  Sumatec issued with UMA query

FOREIGN NEWS HIGHLIGHTS       

l  Boeing undercuts rivals in South Korea fighter contest: sources

l  NAB 3Q profit up 7% on mortgages, lower bad debt cost

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Malaysia

l  Government Intervention Needed To Correct Investment Imbalance Between Malaysia And China

Asia

l  Japan’s Exports Rise Most Since ’10 As Deficit Swells

l  Thailand's Economy Falls Into Recession

USA

l  Payrolls Rose In 32 U.S. States In July

l  Obama Focuses On Risk Of New Bubble Undermining Broad Recovery.

Europe

l  Spain Bad Loan Ratio Rises To Record In June

l  Russian Consumer Demand Strengthens In Sign Of Resilience

Currencies

l  Dollar Edges Up; Indian Rupee Hits New Low

Commodities

l  Brent Oil Hit By Profit-Taking But Supported By Egypt

l  Gold Falls On Worries Over Fed Stimulus Curb