News Bits | 3 December 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Market Strategy: 3QCY13 Results Review - Another Unexciting Quarter

l  Initiate coverage: MATRIX

l  Company Update:  TENAGA

l  Quick Bites: BJTOTO

l  On Our Radar:  Tracker Review

l  On Our Technical Watch:  AIRPORT, ASIAFLE

 

 NEWS HIGHLIGHTS

l  Axiata’s Indonesian unit gets okay to merge with Axis

l  Gabungan AQRS gets RM173m job

l  Country Heights to unveil RM11b Mines Wellness City

l  Sime to spend AUD80.7m on Aussie auto, property deals

l  PPB gains big on entering syariah-compliant list

l  Sapura Resources posts turnaround profit of RM1.5m

l  Patimas plans to regularise position

 

FOREIGN NEWS HIGHLIGHTS           

l  Cinema chain AMC Entertainment plans to raise up to USD368m from IPO

l  Hilton seeks as much as USD2.4b in biggest hotel IPO

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS) 

Malaysia

l  Electricity tariff up by 15% from Jan 1

Asia

l  Bank of Japan considers options to expand stimulus

l  India’s Current-Account Deficit Narrows to Lowest Since 2010

l  Cameron Pushes for EU-China Trade Agreement in Beijing

USA

l  US manufacturing sector expands much more than expected in November

Europe

l  Eurozone factory orders up for fifth consecutive month

l  UK manufacturing 'strongest growth for three years'

Currencies

l  Ringgit gains on power price rise optimism

l  Dollar jumps above ¥103 for first time since May

Commodities

l  Brent climbs above $110 on China data, supply concerns

l  Gold drops 2.6 pct as strong US data fuels fund sales

 

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