News Bits | 27 August 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Result Notes: CIMB, COASTAL, DAYANG, KOSSAN, MRCB,

l  Quick Bites: AXIATA

l  On Our Radar: OCK

l  On Our Technical Watch: DAYANG, HUPSENG

 

NEWS HIGHLIGHTS

l  Petronas net profit slips to RM15.3b in Q2

l  PNB declares 6.7 sen dividend for ASW2020, highest in 5 years

l  Matrix Concepts to build RM250.0m mixed development in KL

l  Bina Puri pre-tax profit falls to RM2.9m

l  Encorp wins RM180m job

l  Tune Ins Q2 earnings surge 136% to RM16.3m

FOREIGN NEWS HIGHLIGHTS           

l  ING sells Korean life insurance unit for USD1.7b to MBK

l  Telefonica wins Slim over with sweetened German deal

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Asia

l  Thai Exports Fall For Third Straight Month

l  Japan Starts Tax Hike Hearing

l  China On Track To Meet 7.5% GDP Growth Target

l  China Suspended PMI Details Over Accuracy Concerns, Bureau Says

USA

l  Durable-Goods Drop Imperils Outlook For U.S. GDP Pickup

l  Obama Administration Sees Mid-October Default Deadline

Europe

l  Govts Told Not To Rely On ECB To Solve Crisis

l  Greece 'May Renegotiate Rescue Loans'

Currencies

l  Dollar Seesaws As Business Orders Take A Hit

Commodities

l  Brent Rises Above $111 On Syria, U.S. Data

l  Gold Breaks Above $1,400 On Weak U.S. Durable Goods Data