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• stocknews 2:10 pm on August 31, 2012 Permalink | Reply
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  KLSE STOCK WATCH 

  Dated 2012-08-31
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  US stocks slump ahead of Bernanke’s speech NEW YORK: US stocks tumbled on Thursday ahead of a much-anticipated speech by Federal Reserve Chairman Ben Bernanke on Friday and as European woes renewed global growth worries.After hovering near break-even for the past three days, the main indices …..   Bernanke may hint at QE without boxing Fed in JACKSON HOLE, Wyoming: Federal Reserve Chairman Ben Bernanke will likely acknowledge the U.S. central bank is actively considering another round of monetary easing in his keynote Jackson Hole speech on Friday…… Euro zone inflation jumps, weighs on rate cut bets BRUSSELS: Euro zone inflation jumped more than expected in August, data showed on Friday, likely reducing chances that the European Central Bank will cut interest rates next Thursday…… Australia approves China farm purchase,sparks investment concern CANBERRA: Australian on Friday approved a Chinese company’s bid for giant cotton farm, igniting new concerns about foreign investment in agriculture where resource-hungry China is showing growing interest…… Greek austerity package draft targets pensions, wages ATHENS: Greece plans to further slash pensions, social spending and public sector wages to find the bulk of nearly 12 billion euros of savings required to satisfy lenders, according to a draft list of measures obtained by Reuters on Friday…… SE Asia Stocks-Most end higher in subdued trade, weak August BANGKOK: Stocks in Singapore, Indonesia and the Philippines edged higher in subdued session on Friday, ending August with their first decline in two months as weak exports data kept market investors cautious about the globaleconomic impact on domesti….. China shares sink for third-straight month, Hong Kong weak too HONG KONG: Hong Kong shares slipped and China sank to levels not seen since early 2009 on Friday, with both markets ending August in the red after first half corporate earnings disappointed and there seemed little chance of an imminent recovery…… Europe shares halt 3-day slide as Spain and Italy rally PARIS: European stocks rose in morning trade, halting a sharp three-day drop as investors started to look beyond Federal Reserve Chairman’s policy speech due later in the day and bet the expected ECB bond buying plan will ease the debt crisis…… Samsung wins over iPhone maker Apple in Japan patent case TOKYO: A Tokyo court ruled on Friday that Samsung Electronics’ mobile devices did not violate an Apple Inc patent, awarding the South Korean firm a victory a week after it lost a landmark patent case in the United States…… Japan eyes suspending state spending as money runs out TOKYO: Japan’s government laid out plans on Friday to suspend some state spending as it could run out of cash by October, with a deficit financing bill blocked by opposition parties trying to force Prime Minister Yoshihiko Noda into an early election….. Fitch Affirms Malaysia’s Tenaga at ‘BBB+’; Outlook Stable SINGAPORE/HONG KONG: Fitch Ratings has affirmed Malaysia-based Tenaga Nasional Berhad’s (Tenaga) Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at ‘BBB+’ and its Short-Term Foreign and Local Currency IDRs at ‘F2′. The Outlook is S….. Tiny Singapore risks economic gloom without big baby boom SINGAPORE: History suggests Singapore will enjoy a welcome baby boom in this Year of the Dragon, the most auspicious for births in the Chinese zodiac…… Chelsea owner Abramovich faces US$6bil court ruling LONDON: Chelsea Football Club owner Roman Abramovich will find out on Friday whether he owes his former partner Boris Berezovsky as much as US$6 billion after a British court battle that has laid bare the post-Soviet carve-up of Russia’s vast natural….. GLOBAL MARKETS-Shares, euro down ahead of Bernanke speech NEW YORK: Stocks fell and the euro retreated on Thursday as investors pared back expectations that Federal Reserve Chairman Ben Bernanke will signal a new round of economic stimulus in a much-anticipated address on Friday to central bankers…… Happy Birthday Malaysia A BIRTHDAY wish is always a must-do for any birthday. So this is said by everyone. I always wonder – why only on a birthday? Isn’t a wish a desire or hope for something to happen?….. Are you paying more for electricity using new meters? YOUR electricity bill is just going to get higher…… RM12.9bil foreign currency inflow into M’sia in next 12 months KUALA LUMPUR: Bank Negara is projecting foreign currency inflows amounting to RM12.88bil or US$4.12bil in the next 12 months due to interest income and the drawdown of project loans…… Govt takes over highway KUALA LUMPUR: The Government will acquire the Johor-based Eastern Dispersal Link (EDL) from MalaysiaResources Corp Bhd (MRCB), confirming speculation on the matter and turning analysts bullish on outlook of the construction giant…… Ingenuity acquisition funding poser SHAH ALAM:The peculiar saga involving a possible takeover of ACE market listed Ingenuity Solutions Bhd continues – with issues such as the financial strength of the offerer and basis of the seemingly rich valuation of the target company still remaini….. Selangor Dredging aims to unveil RM1.2bil worth of properties KUALA LUMPUR: Selangor Dredging Bhd plans to launch five new property projects, with a total gross development value of RM1.2bil, in the current financial year ending March 31, 2013……

  Sime plans US$1.5bil Islamic bond KUALA LUMPUR: Sime Darby Bhd, the world’s biggest listed palm oil producer, is planning its first multi-currency Islamic bond programme of as much as US$1.5bil in Malaysia to raise funds for capital expenditure……   Pasukhas marches on despite UMA query PETALING JAYA: ACE market company Pasukhas Group Bhd continued its meteoric rise on its second day of listing, surging 15% to close at 70 sen…… ‘Buy’ call for TM maintained KUALA LUMPUR: Research houses have generally maintained a “buy” recommendation for Telekom Malaysia Bhd (TM) due to its first-half results that came in within and above their expectations…… KFC unit signs share purchase deal KUALA LUMPUR: KFC Holdings (M) Bhd’s wholly owned subsidiary Roaster’s Chicken Sdn Bhd had entered into a sale and purchase of shares agreement with Intraprenuer Development Capital Sdn Bhd for the purchase of 10.9% equity interest in Rasamas Taman U….. KBB Resources appoints auditor KUALA LUMPUR: KBB Resources Bhd has appointed Messrs CHI-LLTC to conduct an investigative audit on the company…… Alcom set to sustain recovery PETALING JAYA: Aluminium Company of Malaysia Bhd (Alcom) says it will be able to sustain its recovery after being hit by soft demand for its products globally last year…… E&O ratings reaffirmed PETALING JAYA: RAM Ratings has reaffirmed the respective long and short-term enhanced ratings of E&O Property (Penang) Sdn Bhd’s RM350mil bank-guaranteed commercial papers/medium-term notes programme (CP/MTN) at AAA(bg) and P1(bg). ….. JAL sets price range for IPO TOKYO: Japan Airlines said yesterday it would raise up to 663 billion yen (US$8.4bil) in its initial public offering after setting the indicative price range for what will rank as the world’s second-largest IPO this year after Facebook Inc…… US regulators may drop ad ban WASHINGTON: US securities regulators proposed lifting a long-standing ban on the advertising of private securities offerings, a measure that could give a boost to private companies and hedge funds…… Maxis pays dividends despite fall in H1 net profit KUALA LUMPUR: Maxis Bhd has declared a second interim dividend payout of 8 sen per share despite a 4.9% contract in net profit to RM1.04bil for the first half ended June 30…… Axiata profit up KUALA LUMPUR: Axiata Group Bhd’s net profit for the second quarter ended June was only 0.5% higher at RM666.64mil from RM663.05mil a year ago as heavy investments in its Indonesian data operations and exceptional items weighed on margins…… Nestle Q2 net profit rises 22% on higher revenue KUALA LUMPUR: Nestle (M) Bhd’s second quarter ended June 30 year-on-year net profit surged 22.5% to RM120.5mil from RM98.39mil a year earlier on the back of revenue rising to RM1.15bil from RM1.04bil…… Eversendai H1 revenue up on more projects KUALA LUMPUR: Eversendai Corp Bhd has reported a sustainable revenue and profit after tax of RM257.7mil and RM32.3mil for its second quarter ended June 30, respectively…… Hua Yang plans RM815m property launches PETALING JAYA: Property developer Hua Yang Bhd will launch RM815mil worth of property projects in the financial year ending March 31, 2013 (FY13) and has allocated over RM300mil for future land acquisition development…… Nextnation in tie-up with Inovisi PETALING JAYA: Nextnation Communication Bhd has entered into a memorandum of understanding with PT Inovisi Infracom Tbk with the objective of jointly developing a property project…… Tanjong Bin in talks on RM2bil investments JOHOR BARU: Tanjung Bin Petrochemical and Maritime Centre (TBPMC) is in the final stage of discussions with several companies over investments of up to RM2bil in the oil and gas hub…… Domestic demand to drive GDP; interest rate likely to remain unchanged KUALA LUMPUR: Domestic private consumption is anticipated to chart healthy growth due to favourable labour-market conditions, aided by a slew of government initiatives and handouts, RAM Holdings Bhd said…… Producer price index up in July PETALING JAYA: The Producer Price Index (PP1) for domestic rose 0.5% in July from 128 to 128.7, boosted by an increase in the PPI for local production…… China’s 2011 outbound investment growth slows BEIJING: China’s outbound direct investment rose 8.5% to US$74.7bil in 2011, slowing from the year before, government data showed, but extending a decade-long expansion streak as domestic firms are officially encouraged to venture abroad…… German joblessness up as euro crisis bites BERLIN: German joblessness rose for a fifth month running in August, the latest in a string of disappointing data that adds to evidence Europe’s largest economy is feeling the effects of the eurozone crisis…… MRT feasibility studies to be ready next year KUALA LUMPUR: The feasibility studies for the second and third lines of the mass rapid transit (MRT) system development in the Klang Valley are expected to be completed by early next year, according to Land Public Transport Commission (SPAD) chairma….. George Kent selects Thales for Ampang LRT upgrade KUALA LUMPUR: George Kent (Malaysia) Bhd (GKM) yesterday announced that it has selected Thales to provide its internationally-renowned SelTrac Communications-Based Train Control (CBTC) system for the existing 27km Ampang LRT Line, plus an 18km southw….. Biotechcorp teams up with Sedia to uplift bioeconomy KOTA KINABALU: The Bioeconomy Initiative Malaysia took another step forward when the Malaysian Biotechnology Corp sealed a deal to collaborate with the Sabah Economic Development and Investment Authority (Sedia)…… RHBCap aims to consolidate with focus on building scale when acquisitions are completed KUALA LUMPUR: RHB Capital Bhd (RHBCap) has its plate full, and is looking to consolidate its regional presence once it completes the acquisition of OSK Investment Bank Bhd and PT Bank Mestika Dhama…… Islamic banking lifts MBSB profit KUALA LUMPUR: Financial group Malaysia Building Society Bhd (MBSB) reported RM93.65mil in net profit for the second quarter ended June 30, a 19.7% jump from RM78.24mil a year earlier, boosted by its Islamic banking business…… Citigroup settles lawsuit, says US$590mil payout covered by existing reserves NEW YORK: Citigroup Inc agreed to pay US$590mil to settle a shareholder lawsuit accusing it of hiding tens of billions of dollars of toxic mortgage assets, one of the largest settlements stemming from the global financial crisis…… Barclays retail boss Jenkins gets CEO task LONDON: Britain’s Barclays has picked softly spoken retail boss Antony Jenkins as its new chief executive to fill the shoes left by Bob Diamond, the colourful American investment banker who resigned after a rate-rigging scandal…… ADB worries about rice supply crunch like one that led to 2008 food crisis MANILA: Asia should cut rice trade barriers and stabilise prices, the Asian Development Bank (ADB) said, as concerns grow of a supply crunch similar to one that led to the 2008 global food crisis…… Top central banks should consider more stimulus: BOE’s Posen JACKSON HOLE, Wyoming: The world’s top central banks have room to ease monetary policy further, outgoing Bank of England member Adam Posen said on Thursday…… Japan July industrial output falls, warning signs grow TOKYO: Japan’s industrial output unexpectedly fell in July as a slowdown in exports to China and Europe led electronics and semiconductor markers to trim output in a troubling sign that Japan’s broad economy is weakening…… Japan to meet fiscal 2015 deficit targets, longer-term goals in doubt TOKYO: Japan will meet its target of halving the primary budget deficit in fiscal 2015 due to a spending cap and a sales tax increase but will have to tighten fiscal policy further to eliminate the deficit in fiscal 2020, the Cabinet Office said on F….. “”Sunshade”" to fight climate change costed at US$5bil a year OSLO/SINGAPORE: Planes or airships could carry sun-dimming materials high into the atmosphere for an affordable price tag of below US$5 billion a year as a way to slow climate change, a study indicated on Friday…… Japan Aug manufacturing PMI at lowest level in 16 months TOKYO: Japanese manufacturing activity contracted in August to the lowest level in 16 months, a survey showed on Friday, as the weakening global economy continued to weigh on exports and industrial output…… Amazon teams with Nokia, snubs Google for maps SAN FRANCISCO: Amazon.com Inc’s new Kindle Fire will have mapping services via a tie-up with Nokia Oyj, according to two people familiar with the situation, filling a gap in the tablet’s capabilities while snubbing Google Inc’s popular service…… China’s Wen says not to curb rare earth exports BEIJING: China does not intend to curb exports of rare earths, Premier Wen Jiabao said on Friday at a forum with visiting German Chancellor Angela Merkel…… AIR Worldwide sees insured Isaac losses up to US$2bil NEW YORK: Hurricane Isaac has caused anywhere from $700 million to $2 billion in insured onshore losses after striking the U.S. Gulf Coast earlier this week, disaster modeler AIR Worldwide said on Thursday…… Uncertainty over Hon Hai deal frustrates Sharp investors TOKYO: Investors dumped Sharp Corp shares as the abrupt departure of Hon Hai Precision Industry’s chairman from Japan fuelled uncertainty over a tieup expected to help secure the longterm viability of the Japanese LCD TV panel maker…… China’s Sany Heavy Ind Q2 profit slides HONG KONG: China excavator maker Sany Heavy Industry Co Ltd missed forecasts with a 28 percent fall in secondquarter net profit, its biggest quarterly profit drop since 2008, as the country’s economic slowdown led to an increase in unpaid bills…… U.S. to allow Shell to begin prep work for drilling in Arctic ANCHORAGE, Alaska/WASHINGTON: Royal Dutch Shell will be allowed to begin some “”limited”" drilling in Alaska’s Chukchi Sea, the U.S. government said on Thursday, a move the company hailed as a step forward in its long-delayed effort to tap Arctic o…..

   

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