Market New - 07 Sep 2009

U.S. and European Market Roundup 

·  The DJIA up 96.66 points to 9,441.27 points.

·  U.S stocks closed higher on Friday as investors focused on the bright side of a mixed payrolls report that showed smaller-than-expected job cuts in August, although the unemployment rate hit a 26-year high. 

·  European stocks, drawing some support from better-than-expected U.S jobs data, snapped four days of losses on Friday with banking and mining stocks the major gainers.

 

Macro and Corporate New

·  The kitchen cabinet and wardrobe maker expects its exclusive dealership and outsourcing business model to sustain sales growth of between RM500 mln and RM1 bln.

·  Retailer and mall operator AEON Co (M) has scrapped its plan to set up a property trust, one of the company's options to raise funds, as it has enough cash to expand.

 

 

Market New - 04 Sep 2009

U.S. and European Market Roundup 

·  The DJIA up 63.94 points to 9,34461 points.

·  U.S stocks rose on Thursday, snapping a four-day losing streak, after stronger-than-expected retail sales data eased concerns about the economy before Friday's important jobs data. 

·  European shares were ended lower for a fourth straight session on Thursday, pressured by energy and pharma stocks, with analysts detecting no early resumption of the market upswing without solid evidence of economic recovery.

 

Macro and Corporate New

·  Developer Glomac might buy more land in Cyberjaya, Selangor following the success of its RM180 mln flagship Glomac Cyberjaya project.

·  Sime Darby Engineering Sdn Bhd, an indirect wholly-owned subsidiary of Sime Darby Bhd, will buy the Teluk Ramunia fabrication yard from Ramunia Holdings Bhd and Ramunia Optima Sdn Bhd for RM530 mln.

 

Market News - 03 Sep 2009

U.S. and European Market Roundup 

·  The DJIA down 29.93 points to 9,280.67 points.

·  U.S stocks fell on Wednesday as jitters about the economy prompted investors to unload some shares for a fourth-straight day even after a sharp drop in the previous session. 

·  European shares were closed lower for a third straight day on Wednesday, with financial stocks suffering the most, as investors took profits after a strong run in recent months.

 

Macro and Corporate New

·  Bina Darulaman has received an interim letter of acceptance for the construction of a campus for Kolej Universiti Insaniah in Kedah worth RM330 mln from the Works Ministryect.

·  Success Transformer Corp plans to list its wholly-owned unit Seremban Engineering Bhd on the Main Market of Bursa Malaysia.

·  The Employees Provident Fund has emerged as the substantial shareholder of Mah Sing Group, a property firm. 

 

Market News - 02 Sep 2009

U.S. and European Market Roundup 

·  The DJIA down 185.68 points to 9,310.60 points.

·  U.S. stocks fell for a third straight day on Tuesday, spooked by uncertainty over the health of financials and concerns that the explosive rally since March may have run ahead of economic reality. 

·  European shares posted their biggest one-day percentage fall in two weeks on Tuesday, led by banks and commodity stocks, but analysts said the market was likely to resume its climb after a period of consolidation.

 

Macro and Corporate New

·  OILFAB Sdn Bhd, a unit of Oilcorp, has won a contract from Carigali Hess Operating Co Sdn Bhd to provide a project management team (PMT), onshore fabrication, logistic support, offshore hook-up, and construction and commissioning to Carigali Hess' brownfield retrofit project.

·  Malaysian Bulk Carriers (Maybulk) posted a significant improvement in its second quarter ended June 30 against its first quarter, in line with the uptrend in the Baltic Dry Index (BDI).

 

Market News - 01 Sep 2009

U.S. and European Market Roundup 

·  The DJIA down 47.92 points to 9,496.28 points.

·  U.S stocks fell on Monday as concerns about the global economy's health weighed on Wall Street following a sell-off in Chinese equities. 

·  European shares closed lower on Monday, dragged down by falls in China and the United .

 

Macro and Corporate New

·  Year-to-date, the toll road operator has achieved 4% growth in traffic volume and believes it would be sustainable for the rest of the year.

·  Property developer Magna Prima said its wholly-owned unit will buy Ibsul Development Sdn Bhd for RM3.5 mln.