News Bits | 29 August 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  IPO NOTE: SOLID

l  Results Note: ANNJOO, BIMB, CRESBLD, GENP, HUNZPTY, MEDIA, MEDIAC, NAIM, OLDTOWN, PADINI, SUPERMX

l  On Our Technical Watch: MYEG, YEELEE

 

NEWS HIGHLIGHTS

l  MKH's Q3 pre-tax profit increases to RM44.3m

l  Faber 2Q net profit falls 63% YoY

l  Maybank KE and Vietnam’s SSC ink agreement to develop securities market

l  Nakamichi at risk of being suspended

l  Africa offers good prospects for Yinson

l  Nestle invests RM30.0m on ads for Malaysian family day campaign

FOREIGN NEWS HIGHLIGHTS           

l  Qantas net income misses estimates amid Virgin challenge

l  U.S. government, two airlines say open to settling merger fight

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Global

l  BRICs Agree Capital Structure For Development Bank

Malaysia

l  Govt To Consider Subsidy Rationalisation, GST And Review RPGT

l  Approved Investments Rise To RM97.4b In H1

Asia

l  India Infrastructure Projects Set To Boost Economy

l  China Urban Migrants’ Cost Seen At Least $6.8 Trillion

l  Singapore Tightens Public Housing Policy

USA

l  Pending Sales Of Existing Homes In U.S. Dropped 1.3% In July

l  Mortgage Applications Fall As Rates Hit 2013 High

Europe

l  Mark Carney: UK Economic Recovery Measured, Not Rapid

l  German Consumer Morale Eases From 6-Year High

Currencies

l  Indian Rupee Falls To New Low Against Us Dollar

l  Dollar Gains Broadly As Syria Concerns Continue

Commodities

l  Brent Oil Hits Six-Month High, Gold Up On Syria Tension

l  Gold Ends Mixed, Hits 3-1/2 Month High On Syria Jitters