Local News |
Puncak Niaga: Signs sale agreement with PASSB. Puncak Niaga Holdings announced yesterday that it had signed a conditional sale and purchase agreement with Pengurusan Air Selangor Sdn Bhd (PASSB), a wholly-owned subsidiary of state investment arm Kumpulan Darul Ehsan. For MYR1.55b cash, Puncak Niaga agreed to part with its wholly owned Puncak Niaga (M) Sdn Bhd and the water treatment operator's cumulative convertible redeemable preference shares, and the 70% stake in loss - making water distributor Syarikat Bekalan Air Selangor Sdn Bhd, and its MYR212m nominal value of redeemable convertible unsecured loan stocks. (Source: The Edge Financial Daily)
Pelikan International Corp: Pelikan to transfer MYR1b assets. Pelikan International Corp is transferring MYR1.05b worth of assets worldwide to its 71.32%-owned Germany-listed subsidiary Herlitz AG at a discount, as the struggling stationery maker seeks to boost current stock valuations and raise fresh funding for future growth. (Source: The Star) Inari Ametron: On track to hit MYR1b revenue target. Chief executive officer Lau Kean Cheong said Inari Ametron is on track to achieve its MYR1b revenue target by financial year ending June 30, 2016. The electronic component maker's revenue growth will be underpinned by rising demand for radio frequency and op-to-electronic products. (Source: The Edge Financial Daily) |
Outside Malaysia |
China: Xi gets a 'C' in report card on economic program, economists say. China's government scored a 'C' for progress on President Xi Jinping's policy blueprint announced a year ago that plans to give markets a "decisive" role in the economy, according to a survey of economists. Analysts were most impressed with progress on fiscal policy, where the central government is redefining the taxation and spending relationship with China's provinces. Advancement on financial liberalization, rural-land policies and measures to change the ownership structure of state-owned enterprises were seen as lagging behind expectations, the survey showed. (Source: Bloomberg) Japan: Election would risk clouding outlook for Abenomics changes. A potential snap election in Japan next month clouds the outlook for the Abe administration's economic program as the nation struggles to shake off the impact of this year's sales-tax increase. Lawmakers said they were preparing for a possible early election by Prime Minister Shinzo Abe, the clearest sign yet that he's contemplating such a move. The decision is linked to a call on whether to go ahead with another bump in the levy in 2015, one ruling party member said. (Source: Bloomberg) |
Source: Maybank Research - 12 Nov 2014
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Abudance
If inari on target for rm1 BIL revenue . Why such a big drop of 15 sen today??
2014-11-13 18:08