KLSE STOCK MARKET 

Dated 2010-12-31

  Malaysia Dec palm exports down 19.7pc
Malaysia’s palm oil exports fell 19.7 per cent in December compared with the previous month, estimated Societe Generale de Surveillance (SGS), an independent cargo surveyor.A total of 1,260,713 metric tons of palm oil were tracked Dec. 1-31, SGS said…..

  US stocks fall in listless trade
NEW YORK: US stock markets continued this week’s trend of listless and holiday-thinned trading Thursday, with the major indexes trading slightly down.The Dow Jones Industrial Average fell 15.67 points (0.14 per cent) to 11,569.71 in closing trades.T…..

China Eastern Airlines to buy 50 jets worth US$3.2bil from Airbus
HONG KONG: China Eastern Airlines says it is buying 50 new Airbus A320 jets to meet rising demand for its domestic and international air services……

Cleanup of oil-tainted Gulf Coast nears end
EAST GRAND TERRE ISLAND, Louisiana: Dig 2 feet (a half-meter) into the sand on this wind-swept beach and up comes the foul smell of oil……

Israel claims it has fastest growing economy in developed world
JERUSALEM: Israel says its has the fastest growing economy in the developed world……

Fincantieri, Lockheed Martin win US$4bil US Navy contract
MILAN: The Italian shipbuilder Fincantieri and Lockheed Martin Corp. have won a US$4 billion contract to build 10 Littoral Combat ships for the U.S. Navy by 2015, Fincantieri said in a statement Thursday……

Fewer join unemployment rolls; good sign for ’11
WASHINGTON: Far fewer Americans are applying for unemployment benefits as the year ends, raising hopes for a healthier job market in 2011……

Chrysler, Ford recall thousands of trucks and SUVs
WASHINGTON: Chrysler recalled about 150,000 trucks and SUVs on Thursday to address steering, air bag and potential stalling problems, while Ford recalled nearly 15,000 trucks and crossovers because of electrical issues……

UK leader sets economic growth as top 2011 goal
LONDON: Prime Minister David Cameron has pledged to prioritize jobs and economic growth in 2011, but his New Year’s message warns of tough times ahead with harsh budget cuts needed to tackle Britain’s massive deficit……

Fund investors begin slowly embracing US stocks
BOSTON: It appears investors are beginning to get comfortable with risk again. Not only are they pulling money out of bond mutual funds at the fastest pace in two years, but they’re slowly starting to embrace stocks again……

Textile giant, once among richest in US, dies
COLUMBIA, South Carolina: Textile magnate Roger Milliken, who at one time was ranked among the wealthiest people in the U.S. and who helped turn the state’s Republican Party into a powerhouse, died Thursday. He was 95……

Geithner met Wall Street executives last month
WASHINGTON: Treasury Secretary Timothy Geithner met with executives from several top Wall Street banks and with representatives from a foreign government investment fund last month to discuss the implementation of a new, sweeping financial regulatory…..

Borders delays payments to vendors
NEW YORK: Borders Group Inc. has delayed payments to some of its vendors as the nation’s second-largest bookseller seeks to preserve cash while it struggles to refinance its debt. The news sent shares down more than 15 percent in after-hours trading……

Vatican creates financial watchdog amid bank probe
VATICAN CITY: The Vatican has created a financial watchdog agency and issued new laws to fight money laundering and terrorist financing in a major effort to shed its image as a tax haven that for years has been mired in secrecy and scandal……
  Billionaire oil tycoon Khodorkovsky to remain in prison for 6 more years
MOSCOW: Jailed oil tycoon Mikhail Khodorkovsky was sentenced to six more years in prison Thursday following a trial seen as payback for his defiance of Vladimir Putin and as a test of the rule of law in Russia……

  Oil settles below US$90 on government supply report
NEW YORK: Energy prices dropped Thursday after the government said oil and natural gas supplies fell less than expected last week……

Gold, other commodities fall because of ‘mark to market’ rule
NEW YORK: Commodity prices fell nearly across the board Thursday as traders appeared to sell their holdings and lock in profits before the new year……

US stocks set to end year on high note – Dow and S&P up 14% for year
NEW YORK: While U.S. markets fell slightly Thursday, stocks are set to end 2010 on an upbeat note: The S&P 500 index and the Dow Jones industrial average are both up 14 percent for the year, after dividends, thanks to record corporate profits……

A good year for Malaysian stocks – benchmark index up 19%
PETALING JAYA: Bursa Malaysia have had a good year in 2010 despite some volatility experienced in the early months mainly due to concerns over China’s credit-tightening policy and deficit worries in the eurozone……

Tenaga Nasional share price under pressure
PETALING JAYA: Tenaga Nasional Bhd’s (TNB) share price has come under pressure of late, as investors expect the continued rise of coal prices to dampen the earnings of the national utility company……

TM’s move to probe corruption allegations lauded
ETALING JAYA: Telekom Malaysia Bhd’s (TM) move to set up a task force to investigate the alleged improper payments from Alcatel-Lucent SA to its staff is a step in the right direction towards better corporate governance, according to analysts……

Clean up the house for the New Year
Hiding bad news may not be such a good idea but bracing up to it requires a lot of courage. We have seen some successes this year in the fight to prevent corruption. Let us hope there will be a marked reduction in crime and corruption in 2011……

IJM Land-MRCB merger called off
PETALING JAYA: Property firms IJM Land Bhd and Malaysian Resources Corp Bhd (MRCB), which announced their plan last month to merge and potentially become the second largest property player, has aborted the plan……

MISC unit signs loan agreement
PETALING JAYA: MISC Bhd’s 51% jointly controlled entity Malaysia Vietnam Offshore Terminal (L) Ltd (MVOT) has signed a loan agreement for limited recourse term-loan facility of US$137mil arranged by Sumitomo Mitsui Banking Corp, Hong Kong and Shangha…..

Dialog unit wins RM64.6mil job
KUALA LUMPUR: Dialog Group Bhd’s subsidiary Dialog E&C Sdn Bhd has been awarded a RM64.6mil contract by Asean Bintulu Fertilizer Sdn Bhd (ABF)……

Clarification
REFERRING to our report yesterday entitled Cahya Mata raises RM400mil capital , Cahya Mata Sarawak Bhd clarified that its announcement to Bursa Malaysia on Wednesday was on the redemption of 80 of its non-convertible redeemable preference shares iss…..

Maxbiz offers RM8.8m to buy stake in Jasa
PETALING JAYA: Textile processing company, Maxbiz Corp Bhd, in a response to a query by Bursa Malaysia, said it has put a bid of RM8.8mil to acquire 95% stake in PT Jasa Medivest (PTJM) from Pantai Medivest Sdn Bhd……

Limahsoon may be de-listed soon
PETALING JAYA: Limahsoon Bhd’s securities will be de-listed on Jan 12, 2011 unless an appeal is submitted to Bursa Malaysia Securities on or before Jan 7, it said in a filing with the exchange yesterday……

Malton plans rights issue
PETALING JAYA: Malton Bhd has proposed to undertake a rights issue of up to RM156.57mil nominal value seven-year 6% redeemable convertible secured loan stocks (RCSLS) at 100% of its nominal value together with up to 156.57 million warrants and up to …..

Ranhill rated with negative implications
PETALING JAYA: Standard & Poor’s Ratings Services (S&P) has placed its B long-term corporate credit rating on Malaysia-based infrastructure, construction, and utility management company Ranhill Bhd on CreditWatch with negative implications……

Higher dividends by China state firms
BEIJING: China will increase the dividends paid by state-owned firms to as high as 15%, the finance ministry said yesterday, a move that will harness a bigger share of their profits for government spending on everything from education to the military…..

BCorp Q2 net profit up on write-back of impairment
KUALA LUMPUR: Berjaya Corp Bhd’s (BCorp) net profit for its second quarter ended Dec 31 surged 67% to RM86.54mil from RM51.83mil previously……

Bank Negara: Unusual trading in Taiwan unrelated to Malaysia
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Slower growth in financing to private sector
PETALING JAYA: Net financing to the private sector grew at a slower pace in November, expanding RM8.8bil, or 10.8%, versus RM11.7bil, or 11.2%, in October due mainly to lower private debt securities issuances during the month, Bank Negara said in a s…..

Alliance plans RM1.5bil debt sale
KUALA LUMPUR: Alliance Financial Group Bhd’s wholly-owned subsidiary Alliance Bank Malaysia Bhd has obtained Bank Negara approval for its proposed RM1.5bil subordinated medium-term notes (MTN) programme……

EON Bank finishes MTN issuance
PETALING JAYA: EON Capital Bhd’s (EON Cap) wholly-owned subsidiary, EON Bank Bhd, has completed its issuance of RM500mil tier-2 subordinated medium-term notes (MTN) yesterday……

China mulls tougher capital rules for big banks
SHANGHAI: Tougher capital rules may be required for China’s biggest lenders that are systemically important, the head of the banking regulator was quoted by the official China Securities Journal as saying on Wednesday.       …..

Asia syndicated loans on the rise
HONG KONG: Syndicated bank lending in the Asia-Pacific outside Japan rose 52% in 2010, the biggest annual rise in four years, and refinancing is expected to drive volumes higher in 2011, data from Thomson Reuters loans unit Loan Pricing Corp showed y…..

Petrofac wins RM864m Petronas Carigali job
PETALING JAYA: Petronas Carigali Sdn Bhd has awarded a US$280mil (RM863.6mil) contract to Petrofac, the international oil & gas facilities service provider for the development of the Sepat offshore early production system on the east coast of Peninsu…..

Hauliers irked by gate charge
BUTTERWORTH: The Association of Malaysian Hauliers (AMH) has urged the Transport Ministry to intervene on the move by the Malaysia Container Depot Association (MCDA) to impose a RM5 fee for every container that is returned to or taken from their depo…..

Arianespace closes year with sixth successful launch
KUALA LUMPUR: Arianespace, the launcher of Malaysia’s Measat 1 and 2, closed the year by successfully orbiting two communications satellites, Hispasat 1E for the Spanish operator Hispasat and Koreasat 6 for the KT Corp……

UK watchdog fines hit record high
LONDON: The UK’s financial watchdog handed out record fines of £89mil this year in a crackdown on banks, individuals and financial scams as it prepares to be replaced by new authorities……