MARKET ROUNDUP (Source Bloomberg)

European Stocks Are Little Changed; Iberdrola Shares Fall: as speculation that central banks will ease monetary policy offset service-industry measures in the U.K. and Germany that missed economists' forecasts. Germany's DAX slipped 0.2 percent, while France's CAC 40 and the U.K.'s FTSE 100 each lost 0.1
percent.

U.S market closed for holiday.

Oil Declines From One-Month High On Fuel Demand Concern: as the dollar rose amid speculation that this week's gains have been excessive because a global economic slowdown may curb demand. Crude for August delivery dropped 61 cents, or 0.7 percent, to $87.05 a barrel at the end of electronic trading on the New York Mercantile Exchange at 1:15 p.m. The contract yesterday surged $3.91 to $87.66, the highest close since May 30. Prices are 12 percent lower this year. Floor trading is closed today for the U.S. Independence Day holiday

CORPORATE NEWS

ATSC to become Ancom subsidiary: Ancom Bhd has embarked on a share exchange with Lee Nan Phin in relation to IEnterprise Online Sdn Bhd (IEOL) and its 33%-owned associate Avanced Technology Studies Centre Sdn Bhd (ATSC). Ancom currently holds 97% of IEOL while the remaining 3% interest is held by Info One Services Sdn Bhd, in which Lee owns a 99% stake. Effectively, Ancom will own a direct interest of 33% and an indirect interest of 21% (via IEOL) in ATSC, which will become Ancom's 54%-owned subsidiary

SunBiz

MAS to fly to Kathmandu from Sept 1: Malaysia Airlines (MAS) will add another international destination to its flight network service by introducing the commencement of thrice weekly services between Kuala Lumpur and Kathmandu effective Sept 1. The national carrier said the flights would be operate with a two-class configured Boeing 737-800 aircraft comprising 144 economy class and 16 business class seats. Malaysia's May exports jump on Asian demand: Exports rose
by 6.7 per cent, higher than market expectations, while imports increased by 16.2 per cent, causing the trade surplus to narrow to RM4.6 billion from RM7.5 billion in April.

Btimes

OCBC no longer major investor in Muhibbah: Singapore based OCBC Bank has ceased to be a substantial shareholder in Muhibbah Engineering Bhd after disposing of 9.18 million shares in the latter, a filing with Bursa Malaysia showed. According to Bloomberg data, the bank had a 5.46% stake of 22 million shares in the company as at June 26.

NTPM takes lease on Vietnamese land: NTPM Holdings Bhd, through NTPM (Singapore) Pte Ltd, has taken on lease for 43 years a piece of land in Vietnam Singapore Industrial Park (VSIP) II in Vietnam for US$4.95mil cash or about RM15.642mil. The land, measuring about 100,000 square metres, was leased to NTPM by Vietnam Singapore Industrial Park JV Co Ltd, after a letter of confirmation was inked yesterday.

StarBiz

Source:Jupiter Securities Research 05 July 2012