21Jan
klse

Financial Klse Malaysia Stock Market Trading Picks And News – 21 January 2015

MARKET UPDATES :

  • The International Monetary Fund has cut its growth projections for emerging and developing Asian economies, including Malaysia.In its latest World Economic Outlook, it said the Asean 5 – Indonesia, Malaysia, the Philippines, Thailand and Vietnam — will likely grow by 4.5 per cent in 2014 ( a 0.2 per cent cut from its previous outlook) and 5.2 per cent in 2015 ( a 0.1 per cent cut from previous outlook) .These five countries are projected to grow by 5.3 per cent in 2016.In its latest outlook versus the previous one in October, the Fund said the growth is projected to remain broadly stable at 4.3 percent in 2015 and to increase to 4.7 per cent in 2016 — a weaker pace than the October forecast.
  • Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) applauds the government’s decision to maintain the development expenditure of RM48.5 billion for 2015, and to proceed with the implementation of various infrastructure projects including MRT Line 2.”A second MRT line for the city is the logical step especially as we have taken the position of making urban rail as the backbone of public transportation for the Klang Valley.
  • The central bank said the current interest level at 3.25 per cent is still accommodative.”We’ll review the risks to growth and inflation at this point,” Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz said during an analyst briefing here. The government announced a downward revision in growth forecast to 4.5 – 5.5 per cent for 2015.”The midpoint at 5 per cent in this challenging conditions is still a positive.”She said credit growth will also benefit households and businesses especially the small and medium enterprises.
  • There will not be any exodus of funds from Malaysia, says Bank Negara Malaysia Governor Tan Sri Dr Zeti Akhtar Aziz.Despite the ringgit’s fall, Malaysia’s current account surplus was healthy while foreign direct investments continued to flow into the economy.Zeti said this phenomenon included fluctuations in the foreign exchange market which was not unique to Malaysia.
  • Malaysia’s export of crude palm oil in 2014 slipped to 17.27 million tonnes, worth RM44.43 billion, against an offtake of 18.14 million tonnes, valued at RM45.26 million, registered in 2013.Output rose to 19.67 million tonnes in 2014 from 19.22 million produced in 2013, said the Malaysian Palm Oil Board (MPOB).Chairman Datuk AR Wan Khair-il Anuar Wan Ahmad said exports this year was expected to hover around that of last year’s level.“It will depend on demand from importing countries,” he told Bernama when commenting on the latest export figures.Meanwhile, Phillip Futures Sdn Bhd said demand for CPO was likely to record a marginal increase only in 2015 in view of weaker demand.
  • Maybank has partnered with Asia Miles, a leading travel and lifestyle reward programme, that will enable Maybank cardmembers in Malaysia, Singapore, Indonesia and the Philippines to redeem Asia Miles with their Treats points.Maybank cardmembers can now charge their Maybank cards and use their Treat points to redeem an array of awards from Asia Miles.In a joint statement today, Maybank said to celebrate the partnership, a 33 per cent top-up bonus will be offered to cardmembers when they convert their Treats points to Asia Miles from today till February 28.

STOCK RECOMMENDATION :

  • BUY HAP SENG CONS ABOVE 3.860 TARGET 3.900 3.960 SL 3.800

For more information about KLSE stock market please feel free to visit EPIC RESEARCH PRIVATE LIMITED.

20Jan
gold-bars

Comex Trading Signals and Market News – 20 January 2015

INTERNATIONAL COMMODITY NEWS :

Oil markets dipped on Tuesday as China’s economic growth for 2014 undershot a government target and hit its weakest annual expansion in 24 years, adding to worries in energy markets already suffering from slowing demand and oversupply.The world’s second- largest economy grew 7.4 percent last year, China’s National Bureau of Statistics said, less than the target of 7.5 percent. Growth in the fourth quarter held at its weakest in nearly six years, although coming in slightly better than expected at 7.3 percent.

Gold prices rebounded slightly in Asia on Tuesday mainly on improved physical demand and shrugging off data from China that suggested further monetary easing ahead.China said full year growth rose 7.4% in 2014, the slowest pace in 24 years, but quarterly data beat expectations.China’s fourth quarter GDP rose 7.3%, industrial production gained 7.9% in December and and retail sales increased 11.9%, all beating expectations. Economists expected the government to report that the economy expanded 7.2% year-on-year in the final three months of last year, down on the third quart

Copper fell sharply on Monday, as investors looked ahead to a raft of Chinese economic data due on Tuesday for further indications on the strength of the economy and the future path of monetary policy.On the Comex division of the New York Mercantile Exchange, copper for March delivery slumped 5.1 cents, or 1.93%, to trade at $2.567 a pound during U.S. morning hours. Trade volumes were expected to remain light on Monday, with U.S. markets closed for a holiday.

• U.S. natural gas prices plunged sharply on Monday, as weather forecasts predicted temperatures across the U.S. would not be as cold as previously thought, dampening near-term demand expectations for the heating fuel.On the New York Mercantile Exchange, natural
gas for delivery in February tumbled 12.0 cents, or 3.85%, to trade at $3.007 per million British thermal units during U.S. morning hours, after hitting a daily low of $2.978.

• Iran sees no sign of a shift within OPEC toward action to support oil prices, its oil minister said, adding its oil industry could ride out a further price slump to $25 a barrel.The comments are a further sign that despite lobbying by Iran and Venezuela, there is little chance of collective action by the 12-member OPEC to prop up prices – entrenching the reluctance of individual members to curb their own supplies.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1282 TARGET 1287 1293 SL 1276
  • SELL GOLD BELOW 1271 TARGET 1266 1260 SL 1277

For more information about Comex Commodity Market Trading or Signals, Please visit- EPIC RESEARCH PRIVATE LIMITED.

20Jan
forex-trading-tips

IForex Market Trading Signals and News – 20 January 2015

TRADING TIPS :

  • Forex-Japanese yen slightly weaker ahead of China GDP.
  • Forex- USD/CAD almost unchanged, near more than 5-year highs.
  • Forex-Dollar remains within close distance of multi-year highs in thin trade.

GBP/USD
GBP/USD hit 1.5234 during European morning trade, the session high; the pair subsequently consolidated at 1.5177, adding 0.18%.The dollar remained broadly supported after the Swiss National Bank abandoned its three- year old 1.20 per euro exchange rate cap in a shock move last Thursday.In addition, the University of Michigan said, in a preliminary report on Friday, that its consumer sentiment index rose to a 11-year high of 98.2 this month from 93.6 in December, compared to expectations for a rise to 94.1.The pound had come under pressure last week after data showed that the annual rate of consumer inflation in the U.K. slowed to 0.5% last month from 1.0% in November.The slowdown in inflation underlined expectations that the Bank of England will keep interest rates on hold at record lows for most of this year.

EUR/USD
EUR/USD gained 0.53% to 1.1628, pulling away from Friday’s 11-year lows of 1.1459.The euro remained under pressure amid mounting expectations that the European Central Bank will launch a government bond-buying program at its meeting on Thursday, in a bid to stave off the threat of deflation in the euro area.An interim ruling last Wednesday, which is likely to be accepted by the European Court of Justice, said the ECB was free to pursue a bond purchasing program without legal challenge.Last Thursday, the Swiss National Bank abandoned its three- year old 1.20 per euro exchange rate cap in a shock move, signaling that it expects the ECB to act this week.

RECOMMENDATION :

1. Buy GBP/USD Above 1.5103-TG: 1.5123/1.5153 SL 1.5073
2. Sell GBP/USD Below 1.5050-TG: 1.5020/1.4990 SL 1.5080

For more information about Forex Signals and Market Updates, please visit EPIC RESEARCH PRIVATE LIMITED.

20Jan
klse

Financial Klse Malaysia Stock Market Trading Picks And News – 20 January 2015

MARKET UPDATES :

  • Malaysia’s export of crude palm oil in 2014 slipped to 17.27 million tonnes, worth RM44.43 billion, against an offtake of 18.14 million tonnes, valued at RM45.26 million, registered in 2013.Output rose to 19.67 million tonnes in 2014 from 19.22 million produced in 2013, said the Malaysian Palm Oil Board (MPOB).Chairman Datuk AR Wan Khair-il Anuar Wan Ahmad said exports this year was expected to hover around that of last year’s level.“It will depend on demand from importing countries,” he told Bernama when commenting on the latest export figures.Meanwhile, Phillip Futures Sdn Bhd said demand for CPO was likely to record a marginal increase only in 2015 in view of weaker demand.
  • Maybank has partnered with Asia Miles, a leading travel and lifestyle reward programme, that will enable Maybank cardmembers in Malaysia, Singapore, Indonesia and the Philippines to redeem Asia Miles with their Treats points. Maybank cardmembers can now charge their Maybank cards and use their Treat points to redeem an array of awards from Asia Miles.In a joint statement today, Maybank said to celebrate the partnership, a 33 per cent top – up bonus will be offered to cardmembers when they convert their Treats points to Asia Miles from today till February 28.Maybank Head of Cards Group and Community Financial Services, B. Ravintharan, said today there are over 2.6 million Maybank Group credit cardholders in the four countries.
  • HSBC expects the ringgit to stabilise in the second half of this year and trade around RM3.57 to a dollar by year- end, says Head of Foreign Exchange Research Asia Pacific Paul Mackel.He, however, said the currency would remain volatile against the US dollar as the greenback strengthened broadly against major currencies.
  • The Malaysian Investment Development Authority (Mida) hopes the contribution of renewable energy (RE) to the country’s electricity generation to increase to five per cent this year from two per cent at present.Its Deputy Chief Executive Officer, Datuk Phang Ah Tong said the number of RE production sources was not encouraging as the country awaited the feed-in tariff (FiT) policy.He said in the Tenth Malaysia Plan (10MP), the RE production capacity was targeted to hit five per cent, instead it was languishing at less than two per cent as the country was nearing the end of the plan.
  • Genting Bhd today announced that DNA Electronics Limited (DNAe), its indirect 82.1 per cent-owned subsidiary, has completed the acquisition of the entire issued share capital of NanoMR, Inc (NanoMR) for a total cash consideration of about US$24.0 million (US$1= RM3.57).In a filing to Bursa Malaysia today, Genting said the acquisition was completed by way of a merger under the laws of Delaware, United States.NanoMR is a development-stage diagnostics company based in New Mexico while DNAe undertakes research and development on technologies for genetic analysis and sequencing.Genting said the purchase consideration was determined on a willing buyer, willing seller basis taking into consideration NanoMR’s know-how and intellectual property, which are expected to expedite DNAe’s development work.

STOCK RECOMMENDATION :

  • BUY VS INDUSTRY ABOVE 3.070 TARGET 3.100 3.150 SL 3.000

For more information about KLSE stock market please feel free to visit EPIC RESEARCH PRIVATE LIMITED.

19Jan
gold-bars

Comex Trading Signals and Market News – 19 January 2015

INTERNATIONAL COMMODITY NEWS :

Oil prices slumped in early Asia on Monday as the supply outlook remains robust despite a sustained drop in prices of more than 50% in the past six months.On the New York Mercantile Exchange, crude oil for delivery in February eased 0.78% at $48.75 a barrel. Last week, oil prices rallied sharply on Friday, as bullish comments made by the International Energy Agency helped ease concerns over a glut in global supplies. For the week, New York-traded oil futures inched up 33 cents, or 0.67%, the first weekly gain in eight weeks.Elsewhere, on the ICE Futures Exchange in London, Brent for March delivery jumped $1.90, or 3.94%, to settle at $50.17 a barrel on Friday.The International Energy Agency cut its forecast for the increase in non-OPEC oil supply this year by 350,000 barrels a day, amid indications lower prices had begun to curb output in some areas, including North America.

Gold prices held flat to slightly higher in Asia on Monday with investors focused on weak inflation trends across the globe.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery were flat to slightly higher at%1,277.10 a a troy ounce.Last week, gold rallied to the highest level in more than four months on Friday, as demand for safe haven assets was boosted amid turmoil in the currency market, following the Swiss National Bank’s surprise policy decision to scrap its peg against the euro.A day earlier, gold surged $30.30, or 2.45%, to close at $1,264.80 an ounce.Also on the Comex, silver futures for March delivery soared fell to $17.678, down 0.41%.Gold rallied sharply after the SNB shocked the markets on Thursday, saying it would discontinue the minimum exchange rate of 1.20 per euro it imposed in September 2011.

• U.S. natural gas futures declined for the second consecutive session on Friday, as weather forecasts predicted temperatures across the U.S. would not be as cold as previously thought, dampening near-term demand expectations for the heating fuel.On the New York Mercantile Exchange, natural gas for delivery in February slumped 3.1 cents, or 0.98%, on Friday to settle at $3.127 per million British thermal units by close of trade. Futures were likely to find support at $2.932 per million British thermal units, the low from January 14, and resistance at $3.352, the high from January 15.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1285 TARGET 1290 1296 SL 1279
  • SELL GOLD BELOW 1272 TARGET 1267 1261 SL 1278

For more information about Comex Commodity Market Trading or Signals, Please visit- EPIC RESEARCH PRIVATE LIMITED.

19Jan
forex-trading-tips

IForex Market Trading Signals and News – 19 January 2015

TRADING TIPS :

  • Forex-Dollar index remains at multi-year highs, boosted by UoM report.
  • Forex-EUR/USD hits fresh 11-year lows on ECB stimulus expectations.
  • Forex-GBP/USD edges higher but gains in check.

GBP/USD
GBP/USD hit 1.5225 during European morning trade, the session high; the pair subsequently consolidated at 1.5212, adding 0.20%. Cable was likely to find support at 1.5074, the low of January 13 and resistance at 1.5270, the high of January 14.The dollar showed little reaction to data on Thursday showing that the number of people who filed for unemployment assistance in the U.S. last week rose to a four-month high of 316,000, compared to expectations for a decline of 6,000.The pound edged higher against the U.S. dollar on Friday, but were held in check as demand for the greenback remained broadly supported despite Thursday\’s mixed bag of U.S. Data. A separate report showed that U.S. producer prices fell by the most in three years in December, falling 0.3% as energy costs tumbled.

EUR/USD
EUR/USD hit 1.1538 during U.S. morning trade, the pair’s lowest since October 2003; the pair subsequently consolidated at 1.1547, retreating 0.72%.The pair was likely to find support at 1.1531 and resistance at 1.1649, the session high.The euro was hit after official data earlier showed that consumer price inflation in the euro zone fell 0.1% in December, in line with market expectations, after a 0.2% decline in November.The euro dropped to fresh 11-year lows against the U.S. dollar on Friday, as downbeat euro zone inflation data fuelled further expectations that the European Central Bank could announce additional stimulus measures in its upcoming policy statement..

RECOMMENDATION :

1. Buy GBP/USD Above 1.5268-TG: 1.5288/1.5318 SL 1.5238
2. Sell GBP/USD Below 1.5190-TG: 1.5170/1.5140 SL 1.5220

For more information about Forex Signals and Market Updates, please visit EPIC RESEARCH PRIVATE LIMITED.

19Jan
klse

Financial Klse Malaysia Stock Market Trading Picks And News – 19 January 2015

MARKET UPDATES :

  • Genting Bhd announced that DNA Electronics Limited (DNAe), its indirect 82.1 per cent-owned subsidiary, has completed the acquisition of the entire issued share capital of NanoMR, Inc (NanoMR) for a total cash consideration of about US$24.0 million (US$1= RM3.57).In a filing to Bursa Malaysia today, Genting said the acquisition was completed by way of a merger under the laws of Delaware, United States.NanoMR is a development-stage diagnostics company based in New Mexico while DNAe undertakes research and development on technologies for genetic analysis and sequencing.
  • Hong Leong Investment (HLIB) Bank expects AirAsia Group to register stronger earnings in 2015, given the significant benefits from lower jet fuel price.“We have conservatively assumed average yields (including surcharge) to drop 7.6 per cent in 2015 after an assumed decline of 5.8 per cent in 2014. HLIB said AirAsia was benefiting from the slump in jet fuel price as between 60 and 63 per cent of its operational cost was attributed to jet fuel.AirAsia has hedged 50 per cent of its jet fuel requirement for 2015 at US$88 per barrel with the remaining 50 per cent leveraging on the current US$60-65 per barrel level.
  • Property developer, GuocoLand (M) Bhd, is bullish its flagship project, Damansara City, will be launched by the first quarter of this year. “We are very optimistic of a positive take-up rate,” said Managing Director Tan Lee Koon of the integrated development worth RM2.5 billion in gross development value.The project, comprising the high-rise luxurious ‘DC Residency’, office tower, an open street concept lifestyle mall and hotel, was likely to be fully completed within a 15 months period.It would also coincide with the construction timeframe for the Mass Rapid Transit (MRT) station being built next to Damansara City.
  • The proposed privatisation of the Duta-Ulu Klang Expressway (DUKE) Phase-3 has been approved in principle by the Prime Minister’s Department’s Public Private Partnership Unit, said Ekovest Bhd.The construction and infrastructure group said that its wholly owned subsidiary, Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd (Kesturi), had received the letter on Wednesday.
  • The South Korean central bank chief’s surprisingly stern warning on Thursday against betting on an imminent policy easing showed it was far more concerned about rising household debt than uncertain economic growth.This concern makes sense, given that household debt – already among the heaviest in the world at 1.6 times average disposable income – has been growing at its fastest in years over recent months on the back of a recovering property market.Reuters calculations show each South Korean household was carrying some 40 million won (US$37,000) of loans owed to financial institutions as of November.
  • SapuraKencana Petroleum Bhd’s shares rose this morning after the group announced it was rejoining the Security Commission (SC)’s syariah list with a US$2.3 billion Islamic loan. The group, through its wholly-owned subsidiary, SapuraKencana TMC Sdn Bhd, signed a US$2.3 billion (RM8.2 billion) equivalent Islamic facility agreement yesterday to convert a portion of its existing conventional multi-currency facility borrowings into a facility based on the syariah principle of Murabahah with 11 local, regional and international banks.

STOCK RECOMMENDATION :

  • BUY MPHB CAPITAL ABOVE 2.105 TARGET 2.145 2.245 SL 1.040

For more information about KLSE stock market please feel free to visit EPIC RESEARCH PRIVATE LIMITED.

16Jan
comex1

Comex Trading Signals and Market News – 16 January 2015

INTERNATIONAL COMMODITY NEWS :

Gold prices eased in Asia on Friday, driven by shifting sentiment on the dollar and the timing for a rate hike as widely expected by the Federal Reserve later this year.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery fell 0.20% to $1,262.30 a troy ounce.Also on the Comex, silver futures for March delivery eased 0.18% to trade at $17.072 a troy ounce. Elsewhere in metals trading, copper for March slumped 1.33% to trade at $2.544 a pound.A day earlier, copper hit $2.423, a level not seen since June 2009, before settling at $2.505, down 13.8 cents, or 5.24%, as concerns over the global economic outlook and the impact on future demand prospects dampened the appeal of the commodity. The U.S. Department of Labor said the number of individuals filing for initial jobless benefits increased by 19,000 last week to 316,000, the highest in almost four months. Analysts had expected initial jobless claims to decline by 6,000 to 291,000 last week from 297,000 in the preceding week.

Crude oil prices rebounded in Asia on Friday with sharp swings in currencies and the commodity complex whipsawing market sentiment.On the New York Mercantile Exchange, crude oil for delivery in February rose 0.51% to $46.49 a barrel.Overnight, oil futures swung between significant gains and losses in choppy trade on Thursday, as investors eyed movements in the currency market for direction. A day earlier, New York-traded oil futures surged $2.59, or 5.64%, to settle at $48.48 a barrel, as investors returned to the market to close out bets on lower prices. NYMEX prices hit $44.20 on Tuesday, a level not seen since March 2009.

Natural gas futures extended gains on Thursday, after data showed that U.S. natural gas supplies fell more than forecast last week. On the New York Mercantile Exchange, natural gas for delivery in February surged 10.2 cents, or 3.17%, to trade at $3.322 per million British thermal units during U.S. morning hours. Prices were at $3.294 prior to the release of the supply data. The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. in the week ended January 9 fell by 236 billion cubic feet, more than expectations for a decline of 224 billion and compared to a drop of 131 billion in the previous week.

• The collapse in oil prices is starting to slow growth in U.S. output, OPEC said on Thursday, although the slowdown will not prevent demand for the exporter group’s oil falling in 2015 to its lowest in a decade.In a monthly report, the Organization of the Petroleum Exporting Countries (OPEC) forecast demand for the group’s oil would drop to 28.78 million barrels per day (bpd) in 2015, down 140,000 bpd from its prior estimate and the lowest since 2004.

TRADING STRATEGY :

  • SELL GOLD BELOW 1255 TARGET 1250 1244 SL 1261
  • BUY GOLD ABOVE 1264 TARGET 1269 1275 SL 1258

For more information about Comex Commodity Market Trading or Signals, Please visit- EPIC RESEARCH PRIVATE LIMITED.

16Jan
forex-market-hours

IForex Market Trading Signals and News – 16 January 2015

TRADING TIPS :

  • Forex-Euro sharply lower after SNB abandons cap, cuts rates.
  • Forex-NZD/USD rises but upside seen limited
  • Forex-Pound slides lower vs. stronger dollar.

GBP/USD
GBP/USD hit 1.5201 during European morning trade, the session low; the pair subsequently consolidated at 1.5187, shedding 0.31%. The dollar regained some ground after falling broadly on Wednesday when a report showed the largest drop in U.S. retail sales in 11 months in December.Official data showed that U.S. retail sales fell 0.9% last month after rising 0.4% in November. Separately, sentiment on the pound remained vulnerable after data on Tuesday showed that the annual rate of consumer inflation in the U.K. slowed to 0.5% last month from 1.0% in November. Consumer prices were unchanged from a month earlier, compared to expectations for an uptick of 0.1%. The slowdown in inflation underlined expectations that the Bank of England will keep interest rates on hold at record lows for most of this year.

EUR/USD
EUR/USD dipped 0.11% to 1.1773, not far from Wednesday’s nine-year lows of 1.1726, and off Wednesday’s highs of 1.1845.The dollar weakened across the board after official figures showed that U.S. retail sales fell 0.9% last month, the largest decline since last January after rising 0.4% in November.The euro remained under pressure after an interim ruling by the European Court of Justice on Wednesday was seen as clearing the way for the European Central Bank to implement quantitative easing measures at its upcoming meeting on January 22. The advocate general of the European Court of Justice, Pedro Cruz Villalon, advised judges to approve the ECB’s Outright Monetary Transactions program, a measure which was launched in 2012.

RECOMMENDATION :

1. Buy GBP/USD Above 1.5280-TG: 1.5300/1.5330 SL 1.5250
2. Sell GBP/USD Below 1.5202-TG: 1.5182/1.5152 SL 1.5232

For more information about Forex Signals and Market Updates, please visit EPIC RESEARCH PRIVATE LIMITED.

16Jan
klse

Financial Klse Malaysia Stock Market Trading Picks And News – 16 January 2015

MARKET UPDATES :

  • Axiata has expressed interest in a stake in Vietnam’s MobiFone, which is scheduled to be privatised.Vietnam’s deputy minister of information and communications met with Axiata s corporate development to discuss the firm s long-term plans for Vietnam.Axiata is the largest regional mobile operator and controlling interests in Malaysia (Celcom), Indonesia (XL), Sri Lanka (Dialog), Bangladesh (Robi) and Cambodia (Smart), with stakes in India (Idea) and Singapore (M1). It had revenue of MYR4.65 billion ($1.3 billion) in Q3 and a net profit of MYR607 million.MobiFone, Vietnam’S largest operator with a 32% market share,
  • separated from VNPT, in June, and required to submit an IPO plan. Ho Chi Minh City Securities valued it at $3.4 billion. Asian currencies tend to depreciate against the US dollar in the 12-month period prior to a peak in oil prices and, this time around, the peso is likely to be the worst performing among Asian currencies, according to a study.Apart from the peso, which is expected to depreciate by 17.1 per cent, the renminbi and ringgit are also likely to see a depreciation by 16.2 per cent and 14.9 per cent, respectively.AmMarkets, in a report yesterday, studied a historical pattern and saw a possibility in the rebound in oil prices in the next 12 months.
  • CIMB Group Holdings Bhd, RHB Capital Bhd and Malaysia Building Society Bhd (MBSB) announced today that they have ceased discussions on the proposed merger and creation of a mega Islamic bank in light of the current economic conditions.“We had thoroughly deliberated the merger, and while we remain convinced that the combination of our three franchises follows sound strategic logic, we ultimately were not able to arrive at a value-creating transaction for all stakeholders,” CIMB Group Acting Group Chief Executive Tengku Datuk Zafrul Tengku Abdul Aziz said in a joint statement.
  • Malaysia’s policymakers needs to address the country’s high debt growth, said the World Bank.In its latest Global Economic Prospects which was released yesterday, the World Bank said the need for slowing the growth of debt is particularly acute in Malaysia and neighbouring Thailand.Countries are challenged by a buildup of debt while adjusting monetary and exchange rate policies in response to tightening financing conditions and soft commodity prices. “Although they would also reduce inflation pressures across the region, monetary policy remains constrained by high levels of domestic debt in several countries.”Household debt expanded rapidly to 72 per cent of GDP in Thailand, and has reached 87.1 per cent of GDP in Malaysia in the third quarter of 2014.
  • Scomi Energy Services Bhd’s oilfield services division has secured RM300mil worth of contracts in the last three months. These contracts are to provide drilling fluids and drilling waste management services in Australia, Pakistan, India as well as West Africa. It added the clients included national and international oil companies. During the same period, its marine logistics division bagged a RM175mil affreightment job TNB Fuel Services Sdn Bhd.

STOCK RECOMMENDATION :

  • BUY V S INDUSTRY ABOVE 2.925 TARGET 2.965 3.025 SL 2.875

For more information about KLSE stock market please feel free to visit EPIC RESEARCH PRIVATE LIMITED.

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