Fool Trader KLSE Research
Morning Coffee - 10 May 2012
U.S. and European market roundup-Bloomberg
Dow Falls 6th Day in Longest Slump Since August on Greece: The Dow slid 97.03 points, or 0.8 percent, to 12,835.06. It had the longest slump since Aug. 2, three days before S&P stripped the U.S. of its AAA credit rating. The Standard & Poor's 500 Index fell 0.7 percent to 1,354.58, a two-month low.
Dow Falls 6th Day in Longest Slump Since August on Greece: The Dow slid 97.03 points, or 0.8 percent, to 12,835.06. It had the longest slump since Aug. 2, three days before S&P stripped the U.S. of its AAA credit rating. The Standard & Poor's 500 Index fell 0.7 percent to 1,354.58, a two-month low.
Crude Oil Falls for a Seventh Day in Longest Decline Since 2009: as U.S. crude stockpiles climbed to the highest level since 1990.Crude for June delivery decreased as much as 46 cents to $96.35 a barrel in electronic trading on the New York Mercantile Exchange
European Stocks Drop on Greek Impasse; Spanish Banks Fall: European stocks dropped for a second day, to the lowest level in almost four months, as investors awaited a resolution to the political impasse in Greece and as Spanish credit risk surged. France's CAC 40 lost 0.2 percent and the U.K.'s FTSE 100 declined 0.4 percent, while Germany's DAX added 0.5 percent.
Corporate News Headlines
Our debt level sustainable, says economist: RAM Holdings Bhd's group chief economist Dr Yeah Kim Leng said: "Our debt level is still sustainable given that many studies have shown that for countries with a debt level exceeding 90%, the debt will act as a threat to growth. Any debt level below 90% is considered moderate."
Our debt level sustainable, says economist: RAM Holdings Bhd's group chief economist Dr Yeah Kim Leng said: "Our debt level is still sustainable given that many studies have shown that for countries with a debt level exceeding 90%, the debt will act as a threat to growth. Any debt level below 90% is considered moderate."
RM29.8b trade surplus in Q1: Malaysia's total trade increased 5.6% to RM317.66 billion in the first quarter of 2012 from RM300.95 billion a year earlier, driven by strong demand from major markets in Asean, a pick-up in consumer demand in the United States and an increase in China's production needs.
MFM to invest RM166m to boost capacity: in capital expenditure (capex) in the next two years to expand its flour business and poultry operations in the country and in Vietnam. It will expand two of its flour milling plants in Vietnam as it expects volume there to grow by 10% per year
.-SunBiz
Move to revise crude palm oil tax: The long overdue revision of Malaysia's crude palm oil (CPO) export tax policy which has been unchanged since the 1960s will likely take place by year-end or early next year
CEO sells 12.6% stake in CBSA: group managing director and chief executive officer Sun Chee Kong has ceased to be a substantial shareholder of the company following the disposal of a block of 30.4 million shares.
Petronas Gas net profit at RM333m: Revenue was at RM914.8mil. (There were no financial comparisons due to the changes in financial year from March 31 to Dec 31, effective from the financial period ended Dec 31, 2011).
MMHE profit drops by 39% compared to Q1 last year:made a net profit of RM78.3mil or 4.90 sen per share for its first quarter ended March 31, 39% lower than the net profit of RM128.6mil or 8 sen per share posted in the same period last year due to a weaker performance in its engineering and construction division
-StarBiz
MRT Corp awards RM3.2b jobs to 4 firms: Syarikat Muhibbah Perniagaan & Pembinaan Sdn Bhd secured a RM1.09 billion job. Sunway Construction Sdn Bhd was given a RM1.17 billion contract. Meanwhile, a contract worth RM499.98 million was given to MTD Construction Sdn Bhd and Trans Resources Corp Sdn Bhd won a RM458.98 m.
AYS Ventures expects revenue to grow by up to 30%: AYS Ventures Bhd, which took over the listing status of NV Multi Corp Bhd under a restructuring scheme. The company trades and sells steel products and construction materials. It also makes panels and components for sectorial tanks, purlins, wire and other steel products.
Sime, CapitaMalls plan RM500m mall: The mall, to be located on 242,000-sq-ft freehold land in Taman Melawati here, is expected to be completed in 2016.It will have a net lettable area of around 635,000 sq ft and serve a catchment population of about 800,000 people within a 10-minute drive.
-Btimes
Source:Jupiter Securities Research 09 May 2012
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