Market News - 20 Aug 2009

U.S. and European Market Roundup

• The DJIA up 61.22 points to 9,279.16 points.
• U.S. stocks rose on Wednesday, shaking off a slide in China's equity market, as investors responded favorably to a surprising drop in crude oil stockpiles that might suggest an improving demand outlook.
• European equities ended lower on Wednesday, with banks and autos leading the fall, as investors scaled back their trading positions after heavy losses in Asia and on concerns about the pace of the global economic recovery.

Macro and Corporate New

• Property developer Mah Sing Group posted a 38% drop in its fiscal second-quarter net profit from a year ago, as last year's gain is boosted by a large property sale.
• TDM, a plantation group owned by the Terengganu state government, is investing RM114 mln to set up its fourth hospital and meet growing demand for healthcare on the east coast.
• Kencana Petroleum's wholly owned subsidiary, Kencana HL Sdn Bhd has been awarded a contract from Afcons-Gunanusa joint venture, a company based in Mumbai, India for the construction of jackets for offshore process platform..

Market News - 01 Jul 2009

U.S. and European Market Roundup

• The DJIA down 82.38 points to 8,438.39 points.
• U.S stocks fell on Tuesday as an unexpected drop in consumer confidence cooled recent optimism about an economic recovery, but Wall Street still closed out its best quarter in a decade.
• European shares fell on Tuesday, led lower by banks and energy companies, after U.S consumer confidence readings proved weaker than expected.

Macro and Corporate New

• AirAsia is looking at raising about RM500 mln by placing out up to a fifth of its shares to private investors to pay off some debt, says its CEO.
• AMMB Holdings is considering plans to raise about RM400 mln in innovative Tier-1 capital, or the most liquid capital, for the commercial and Islamic bank in the next few months, a top official said.

Market News - 30 June 2009

U.S. and European Market Roundup

• The DJIA up 90.99 points to 8,438.39 points.
• U.S stocks rose on Monday as higher oil prices lifted shares of energy companies and fund managers snapped up this quarter's winners to burnish their portfolios.
• European shares closed higher on Monday with financials given a boost by broker upgrades and rising crude prices lifting energy stocks.

Macro and Corporate New

• Tanjong plc's net profit for the 1QFY10 ended April 30 dipped 4.8% to RM191.4 mln from a year earlier as it recorded, among others, a net investment loss of RM3.1 mln versus net investment income of RM74.3 mln in 1Q09.
• Berjaya Corp (BCorp) posted a net loss of RM113.9 mln for the 4Q09 ended April 30 compared with a profit of RM235.9 mln a year ago due to impairment losses of about RM90.4 mln.