Journey to Wealth

Kenanga Today : 6 August 2012

kiasutrader
Publish date: Mon, 06 Aug 2012, 08:46 AM

NEWS HIGHLIGHTS
- Silk Holdings secures three Exxonmobil contracts worthRM57.4m
- LNG proposes to acquire 100% stake in OFM for RM32.0m
- Datasonic to raise RM41.0m for capital, expansion
- Chin Well expanding ops
- Pinehill Pacific to dispose of two parcels of land forRM16.7m
- Emico plans to sell land for RM8.6m
- Tadmax's JV to build Papua timber complex
- SilverBird's suit shocks accountants; may result in higher audit fees


FOREIGN NEWS HIGHLIGHTS
- GM may write down Peugeot stake if Europeworsens
- Apple needs sharp with Foxconn stake as new Iphone nears
- Knighttalking to several parties on financing


ECONOMIC NEWSHIGHLIGHTS (MACRO BITS)

Asia
- China, India Service Sectors Defy GlobalDownturn.
- China Central Bank To Step Up Monetary Policy Fine-Tuning InSecond Half.

USA

- US Economy Adds 163,000 New Jobs.
- Treasuries Fall as Better Job Gains Slow Fed Speculation.
- Service Industries in U.S. Expanded at Faster Pace inJuly.

Europe
- Eurozone Companies 'Weak In July'.
- IMF's Talks With Greece Show Progress, Fund OfficialSays.
- UK Service Sector Output 'Unexpectedly SlowsIn July'.
- Spain 2-Year Yield Drops Most in 2012 on ECBBuying Speculation.

Currencies
- Dollar Down 1% on Jobs while Euro, Bonds Rally.

Commodities
- Oil Surges Most in a Month as U.S. Adds Jobs, Services.
- Gold Rises as Stimulus Hopes Alive after Payrolls.

Source: Kenanga
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