NEWS HIGHLIGHTS

• Cash-strapped EcoFirst to dispose of vacant land in Shah Alam to HCK Capital

• JAKS Resources falls to lowest in nearly 16 years on private placement plan

• Ge-Shen buys 40% in Local Assembly after LTKM scraps RTO with the EMS firm

• Icon Offshore bags offshore support vessel services contract

• JAG's offer for KUB Malaysia turns unconditional

MACRO BITS

• Central banks on brink of victory in inflation fight - BIS

• US funding bill blocks China from buying oil from Strategic Petroleum Reserve

• Anwar: Malaysia, Australia to explore further cooperation

• Empowerment through 5G can create 750,000 new jobs in Selangor

• Malaysia's first smart AI container port to be built in Port Dickson

• Australia warns Southeast Asia of 'coercive actions'

• China's parliament to unveil more stimulus this week, bold reforms unlikely

• China expected to target GDP growth of around 5.0% in 2024

• Japan government considers calling end to deflation, Kyodo reports

• Japan corporate capex jumps, likely swinging revised GDP to expansion

• 'Critical' Thai economy needs urgent stimulus, says PM's office

• Fed's Bostic: No urgency to cut interest rates given US economy's strength

• UK's Hunt set to extend energy windfall tax by one year, sources say

• Trump tariffs would shave at least 1.2% off German GDP by 2028, IW study shows

IDEAS OF THE DAY

• Sector Update: MEDIA, TELCO

• Company Update: TCHONG

Source: Kenanga Research - 5 Mar 2024