News Bits | 14 November 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Results Note: PERISAI

l  On Our Radar: PIE

l  On Our Technical Watch: ENGTEX, SUPERMX

 

NEWS HIGHLIGHTS

l  Vendor in Mah Sing deal to settle dispute (Comment included in Kenanga Today)

l  Wing Tai Q1 earnings fall 14.4% to RM15.67m on lower property devt revenue

l  Felda Global Ventures in JV with Lipid Venture

l  KUB Malaysia decides against divesting A&W stake

l  Manulife buys MAA Group's unit for RM96.5m

l  KUB set to hand over third runway project to MAHB

FOREIGN NEWS HIGHLIGHTS           

l  Virgin Australia seeks USD325.0m in rights issue

l  BNP Paribas to buy 25% stake in Fortis Unit for EU3.3b

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Asia

l  Indonesia Plans US$35b Projects

l  China Banks' Bad Loans Up Most In 8 Years

USA

l  Budget Deficit In U.S. Narrows On Record Revenue For October

l  Mortgage Applications Dip In Latest Week

l  Yellen Says Economy Performing ‘Far Short’ Of Potential

Europe

l  Germany Under Review Over Economic Role In EU

l  UK Jobless Rate Falls To Three-Year Low As Economy Grows

Currencies

l  Dollar Falls As Investors Look Ahead To Yellen Hearing

Commodities

l  US Oil Output Beats Imports For First Time In 25 Years

l  Brent Edges Above $106; Fed Stimulus, Oil Stocks In Focus

l  Gold Ends Up On Dollar Fall, Breaks Four-Day Drop

 

Kenanga Coverage Rating Summary - (Please refer to the attached)