Tuesday, November 26, 2013

News Bits | 26 November 2013


IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)
l        Company Update:  UMW
l        Results Note: AEON, PADINI, PARKSON, PPB, TAANN, UEMS, WASEONG
l        On Our Radar: RUBEREX 
l        On Our Technical Watch:  VITROX, PESONA
 
 NEWS HIGHLIGHTS
l    MBSB plans to raise RM3.0b from sukuk issue
l    Globetronics gets large orders for LED chips
l    United Plantations' 3Q revenue dips to RM212.3m
l    Digistar net losses widens to RM16.1m in Q4
l   Pelikan posts a turnaround profit of RM4.3m
l    Guan Chong sinks into the red in Q3 on forex, contract losses
FOREIGN NEWS HIGHLIGHTS           
l       GM investors to focus on buybacks, dividend after Treasury exit 
l        Chrysler IPO said delayed to 2014 by U.S. tax confusion 
 
ECONOMIC NEWS HIGHLIGHTS (MACRO BITS) 
 
 Asia 
l  BOJ To Keep Loose Money Policy In Place For Now
North America
l    Pending Sales Of U.S. Existing Homes Drop For Fifth Month
l Canadian Consumer Confidence Hits Eight-Week High
Europe 
l    UK Manufacturers Regain Appetite For Borrowing
l UK: Mortgage And Business Lending Falls In October 
Currencies 
l    Dollar Hits Nearly Six-Month High Against Yen
Europe
l    Brent Slips More Than $2 After Breakthrough Iran Deal
l Gold Rises From 4-Month Low On Options-Related Buying
Kenanga Coverage Rating Summary - (Please refer to the attached)