NEWS HIGHLIGHTS

• MNRB upsizes sukuk programme to RM420.0m
• BAssets disposes of 0.5% stake in BCorp for RM8.2m
• Tex Cycle subscribes to Chin Hin's RM10.0m perpetual mediumterm notes
• Zecon secures RM852.0m banking facilities from Bank Pembangunan
• Reneuco’s largest shareholder pared 6.9% stake before annual report release

MACRO BITS

• IMF's Georgieva 'very confident' on soft landing, sees rate cuts coming
• Unemployment rate held steady at 3.3% in the final month of 2023 (See Economic Viewpoint: Malaysia Labour Market)
• PM: 2024 the year to focus on economic development, regain country’s respect
• Brazilian president Lula keen on Malaysian semiconductor sector, welcomes Anwar ahead of G20 Summit
• Pintar Agriculture strategies to turn Sarawak into country’s second rice bowl — Mohamad Sabu
• China January new bank loans hit record high on policy support
• IMF urges BOJ to end bond yield control, huge asset buying
• Thai PM will keep urging cental bank to cut rates
• US consumer prices revised lower in December; but raised in November
• Yellen sees more commercial real estate stress, losses, but 'no systemic banking risk'
• EU agrees on looser fiscal rules to cut debt, boost investments
• Italy's Panetta sees time for ECB rate cuts 'fast approaching'

IDEAS OF THE DAY

• Company Update: ENGTEX
• Weekly Technical Review: DJIA, KLCI
• Economic Viewpoint: MY Labour Market  
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Source: Kenanga Research - 13 Feb 2024