While Malaysian companies are only  just jumping on the  Myanmar  bandwagon, we believe that opportunities  abound in that country although  the risks remain.  There appears to beopportunities  in the areas ofagriculture, O&G, power, tourism and telecoms. Malaysian companies such asAirAsia, Axiata, Felda, Cypark and Tan Chong that are exploring opportunitiesin Myanmar will still have to tread cautiously in the coming months beforetheir efforts bear fruit. Nonetheless, given the  keen interest in Myanmar, investors should keep a close eye  on the efforts of these companies in the eventsanctions are lifted and the pace of reforms picks up.

Last minute buyingsupport. FBM KLCI perked up 5.89 pts on Tuesday to 1,597.17 as investorssnapped up  selected heavyweights at thelast minutes  of trading. Today's key marketnews are Crest Builder-Detik Utuh JV will build a tower atop the Dang Wangi LRTstation, Proton denies Datuk Seri Syed Zainal Abidin has quit as MD, HibiscusPetroleum to enter Norway's O&G scene, Hong Leong Bank to sell MIMB staketo Hong Leong Capital, Lingui's board agrees to put forward  a privatisation proposal and Seacera is to buy138 acres  in Semenyih for RM78.1m.Overnight, US stocks rebounded  from an extendedlosing run after Spanish and Italian bond yields fell and aluminium maker AlcoaInc. reported a surprising profit. With the DJIA  rising 89.46 pts, or 0.7%, to 12,805.3, we thinkthe local bourse may just put aside the negative sentiment from the sharp dropsin the US and EU markets on Tuesday.

In what may be Syarikat Prasarana Negara's most ambitiousproject yet to unlock value from its real estate, the national public transportoperator is partnering with a developer to build a billion-ringgit tower atopits Dang Wangi light rail transit (LRT) station. The project, won by CrestBuilder Holdings and its 49% joint-venture (JV) partner Detik Utuh SB two weeksago, is for the construction of a single-block mixed development fronting JalanAmpang with a gross development (GDV) of RM1.0bn. (StarBiz)

Proton Holdings has said Datuk Seri Syed Zainal Abidin SyedMohamed Tahir is still holding the position of group managing director of thenational carmaker, and that his services are still required in the company. Itwas responding to a Edge Financial Daily report on Tuesday citing sources thatSyed Zainal had resigned from the company. Proton in a statement on Tuesdaysaid it was not aware of the speculation. (Financial Daily)

Ceramic company Seacera Group has proposed to buy  a  138-acre plot of land in Semenyih, Selangor,for RM78.1m from Duta Skyline SB. The deal is expected to be completed withinfive years, said the company in its exchange filing on Tuesday. The land willbe used for future property development, said the company. The amount will besettled via RM13m in borrowings, and the remainder from internal sources.(Malaysian Reserve)

Lime Petroleum plc, jointly controlled by Hibiscus  Petroleum, has signed a Letter of Intent(LOI) with North Energy ASA and Rex Oil & Gas Ltd to acquire a portion ofNorth Energy's interest in four concessions, offshore Norway. Under the LOI,Lime is expected to sign a framework sale and purchase agreement with NorthEnergy, which will detail the terms of the acquisition by 30 April. A specialsale and purchase agreement for the interest in each concession is alsoexpected to be signed subsequently, the company added. (BT)

Hong Leong Bank has sealed a sale and purchase agreementwith Hong Leong Capital to sell its 100% stake in MIMB Investment Bank (MIMB)for RM157.9m. The proposed acquisition is part of an exercise to rationalisethe investment banking businesses involving MIMB and Hong Leong Investment. The deal is expected to be completed inthe second quarter of this year, Hong Leong Bank said in a statement to BursaMalaysia  on Tuesday. (BT). Please seeaccompanying report

South Korea's seasonally adjusted unemployment rate camedown from February's 11-month high in March, falling for the first time inthree months. The seasonally adjusted jobless rate was at 3.4% in March,compared with 3.7% in February. Unadjusted, the reading was at 3.7% last month,down from February's 4.2%. The number of employed Koreans in March rose by419,000 from a year earlier, to 24.3m, compared with an increase of 447,000 inthe preceding month. (MarketWatch)

The IMF approved a USD987m loan to Bangladesh today afterrising oil imports depleted the country's currency reserves. Bangladesh willimmediately receive USD141m under the three-year arrangement. Conditions forthe loan include a 'restrained' monetary policy, a reduction of trade barriersand 'moderate' fiscal consolidation, according to the release.  (Bloomberg)

Australian home-loan approvals fell for a second month onthe fastest exodus of first-home buyers in a decade, increasing pressure on thecentral bank to cut interest rates as consumer confidence weakens. The numberof loans granted to build or buy houses and apartments fell 2.5% in Februaryfrom a month earlier, the biggest drop since March 2011. (Bloomberg)

The ruling Democratic Party of Japan has asked four membersof the Bank of Japan's policy board to meet with DPJ lawmakers this month amidpressure for the central bank to increase monetary easing to end deflation. Kouhei Ohtsuka, a leader ofthe ruling party's official policy group on countering deflation requested thatthey attend the next meeting. (Bloomberg)

Japan's core machinery orders rose unexpectedly in February,reinforcing expectations that rebuilding in the earthquake-battered northeastwill bolster corporate spending and economic recovery although risks loom from aresurgent yen and wobbly  overseaseconomies. Core machinery orders, considered a leading indicator for capitalspending, rose 4.8% in February from the previous month, beating the medianforecast for a 0.8% decline. (Bloomberg)

US: Fed says economy grew at 'modest to moderate' pace

The Federal Reserve said the economy grew in all 12 of itsregions as manufacturing, hiring and retail sales showed signs of strength inthe face of higher fuel prices. 'The economy continued to expand at a modest tomoderate pace from mid-February through late March,' the Fed said. 'Hiring wassteady or showed a modest increase across many districts.' (Bloomberg)

The prices paid for goods imported into the US jumped 1.3%in March, mainly because of higher oil costs. That compared to a revised 0.1%decrease in February. Import prices in February were originally reported up0.4%.  Fuel costs shot up 4.3% as theprice of oil surged. Excluding fuel, import prices rose by a much smaller 0.3% lastmonth. (MarketWatch)

Source: OSK188