MARKET ROUNDUP (Source Bloomberg)

U.S. Stocks Erase Loss as Europe Offsets China Concern: as Italian Prime Minister Mario Monti said
Greece is likely to stay in the euro and a majority of the region's leaders support issuing a joint bond, offsetting
earlier concern about a Chinese slowdown.

In the U.S., data showed companies placed fewer orders for computers, machinery and other capital equipment in April for a second month. Manufacturing in the U.S. expanded in May at the slowest pace in three months, indicating the industry that's spurred the expansion is cooling. The S&P 500 rose 0.1 percent to 1,320.68, reversing a loss of 0.6 percent. The index gained for a fourth day. The Dow Jones Industrial Average added 33.60 points, or 0.3 percent, to 12,529.75. The Nasdaq Composite Index fell 0.4 percent to 2,839.38.

European Stocks Rebound From Biggest Decline in a Month: amid concern recent losses are overdone considering the outlook for company earnings. The U.K.'s FTSE 100 rallied 1.6 percent, Germany's DAX advanced 0.5 percent and France's CAC 40 gained 1.2 percent.

Oil Retains Gains on Iran Talks: Oil rebounded from a seven-month low as world powers and Iran struggled to overcome disagreements at their second round of meetings on the country's nuclear program. Crude for July delivery gained 76 cents to settle at $90.66 a barrel on the New York Mercantile Exchange. It's the fourth time prices have risen this month.

CORPORATE NEWS

Maybank, CIMB post double-digit growth in Q1:Maybank posted an 18% rise in net profit to RM1.35
billion from RM1.14 billion a year ago, on healthy growth in net interest income and non-interest income while CIMB saw a 10% growth to RM1.01 billion from RM916.5 million previously, driven by outperformance at its regional corporate banking and treasury markets division and
sustained high growth momentum at its Indonesian unit, PT Bank CIMB Niaga TBK.

AEON to expand to Sabah, Sarawak in 3-5 years: The
group is also expected to open a two-level community
shopping centre in Sri Manjung, Perak by year-end, which
would be its 21st shopping centre and 26th general
merchandise store (GMS).

KLK's Q2 net profit falls 43%: to RM214.9 million from
RM373.9 million a year ago, mainly due to lower
contributions from its plantation, oleochemical and retail
divisions. KLK declared an interim dividend of 15 sen per
share, payable on Aug 8.

Handal wins contract from Petrofac: a two-year contract from Petrofac Energy Developments Sdn Bhd to provide maintenance services for the latter's "Seacrane" offshore pedestal crane. The rates to be charged for the services will only be decided at the time the service is provided

-SunBiz

KTSB wins Carigali Hess contract: Kejuruteraan Samudra Timur Bhd (KSTB) has secured a contract by Carigali Hess Operating Company Sdn Bhd projected to be worth US$6mil. Deleum eyes RM1b jobs: Deleum had set aside RM20mil to RM25mil as capital expenditure (capex) for business expansion this year. Our current order book stands at RM650mil, these projects that the company already had in hand would likely last through 2018.

-StarBiz

Scomi; 4-car trains on track- will deliver the first batch of four-car trains for KL Monorail to Syarikat Prasarana Negara Bhd by year-end. Its unit, Scomi Transit Projects Sdn Bhd, won a RM494 million contract from Prasarana in November last year to supply 12 sets of four-car Generation 2-type trains for its KL Monorail fleet expansion.

Permaju board to meet on Sepangar project: expected to hold a board meeting today on a proposal to
sell and develop some 4ha of land in Sabah for as much as RM250mil. It is understood that under the plan,
Permaju will have to help build a hypermarket.

-Btimes

Source:Jupiter Securities Research 25 May 2012