News Bits | 29 Oct 2012

Reports

§  Newz Bits [download report]

 

Malaysian news

§  Bumi Armada:  New FPSO ready

§  AirAsia: To reap RM180m from Tune Ins IPO

§  AirAsia: EPF net seller of shares

§  DRB-Hicom: Expected to partner Mitsubishi

§  DRB-Hicom: Proton set to tie up strategic partnership with Japanese firm

§  TH Plantations: To buy land in Sarawak for RM255m

§  Cypark: Plans to expand supply to the national grid

§  Brahim’s Holdings: To complete acquisition of LSG Asia stake

§  Brahim’s Holdings: Hopes to wipe out losses 

§  Insurance: ING buy sets benchmark for CIMB-Aviva deal

§  Economy: Sabah has potential to become Malaysia’s economic powerhouse

 

Global news

§  US: Growth exceeds forecasts on consumer spending

§  US: Goods orders point to business spending slump

§  US: Jobless claims show limited labor market progress

§  US: Michigan consumer sentiment index increased to 82.6 in October

§  Europe: Troika proposes new debt restructuring for Greece, Spiegel says

§  China: Slowing Revenue Gains Seen Limiting Spending to Aid Growth

§  South Korea: Growth slows as global cooling caps exports

§  Singapore: Output declines

 

 

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News Bits | 25 Oct 2012

Highlights of the day

§  Dijaya Corp (Stock Idea): Earnings to take off next year (BUY, TP: RM1.57) [download report]

Dijaya’s share price has been sold down amidst various concerns, just as earnings are about to take off after an aggressive property acquisition drive.  If, as we believe, the Malaysian property sector resumes its run in 2013 after consolidating this year, Dijaya shares could be re-rated to our target price of RM1.57 in 12 months’ time for a 51% capital gain.

 

§  Economics (Leading Economic Indicator): August 2012: The worst may be over [download report]

Malaysian leading indicator for August grew marginally slower at 2.0% y-o-y after growing 2.3% in July. At the same time, the August coincident indicator jumped back up by 1.6% y-o-y after barely increasing in July. The lagging indicator also grew faster in the same month compared to the previous one. While the leading indicator suggests that the economy may grow only slowly in the future, both the coincident and the lagging indicators hint that the worst may be over.

 

Other reports

§  Newz Bits [download report]

 

Other Malaysian news

§  Bumi Armada:  Gets jobs worth RM147m

§  Sunway REIT: Targets RM7bn asset size in 5 years

§  TH Plantations: Plans Sarawak acquisitions

§  Lion Industries: To buy firm for RM24m

§  Naim Holdings:  Named for MRT package S2

§  Daiman: Unit invests in Chinese housing fund

§  Amcorp Prop: Expects RM27m from land sale

§  Automotive:  No excise duty cuts on cars

§  Property: PHB upbeat on City Hall nod for Bangsar project

§  Telecommunications: 4 telcos shortlisted

§  Timber: RM1.04bn for forest plantation scheme

 

Global news

§  US: Fed calls growth ‘moderate’ while maintaining bond purchases

§  US: Home sales rising to two-year high spur growth

§  US: Markit - October factory activity edges up, growth still weak

§  Europe: Greece, Troika reached final labor agreement

§  Europe: Euro-area recession deepens as manufacturing shrinks

§  Thailand: Exports unexpectedly climbed for first time in four months

 

 

Visit ECM Libra at https://www.ecmlibra.com/ecmlsmy

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