MALAYSIA NEWS HIGHLIGHTS: Top Stories On Jan. 12
By Kuala Lumpur Newsroom
KUALA LUMPUR (Jan 12) -- Here's a roundup of latest news from Malaysia so far on Friday:
*ASIA MARKETS: Nikkei Asia300 Index Gains Tracking Record-High Wall Street
Asian stocks outside of Japan advanced Friday, buoyed by Wall Street's record highs. Energy companies rose after Brent crude topped $70 a barrel mark.
*UPDATE: Malaysia Top Glove Aims 2 More Acquisitions This FY After Aspion Purchase
Malaysia's Top Glove Corporation, the world's largest rubber glove company by capacity, may buy another two companies this fiscal year following a planned acquisition of a medical glove maker, its chairman said Friday.
*Shares Of C-Mer Eye Care Surge In Hong Kong Gray Market
Shares of C-Mer Eye Care Holdings jumped at a gray market venue in Hong Kong ahead of their trading debut on Monday. The stock closed 71.4% higher at HK$4.97 at a pre-initial public offering trading platform run by Phillip Securities, compared with the offer price of HK$2.90 apiece.
*ASIA MARKETS: Hong Kong Stocks Post Fifth Weekly Gain As Rally Stretches On
Hong Kong shares marked their fifth straight weekly advance on Friday, as upbeat global cues and a rosy outlook helped send the benchmark equity index on a record-winning streak.
*ASIA MARKETS: Singapore, Malaysia Stocks Post Weekly Gains As Global Equities Rally
Shares in Malaysia and Singapore rose this week, as a global equity rally amid upbeat growth outlook showed no signs of slowing.
*Singapore Press Holdings 1Q Net Profit Up 32.1% On Divestment Gains
Singapore Press Holdings, publisher of the city-state's largest newspaper The Straits Times, said Friday its net profit in the fiscal first quarter gained 32.1% from a year earlier, helped by divestment gains, even as revenue from the media business declined.
*Singapore's 800 Super Holdings Gets Waste Management Contract Worth S$193.5 Mln
Singapore's 800 Super Holdings, a waste management company, said Friday its unit has bagged a public waste collection contract worth S$193.5 million ($145.74 million) from the National Environmental Agency.
*MARKET BUZZ: China Developers, Energy Shares Lift Hong Kong's HSI By 1.9% This Week
Hang Seng rises 0.9% to 31,412.54, tracking overnight rally on Wall Street. Index up 1.9% this week as global growth optimism fueled rally shows no signs of fading.
*Malaysia's T7 Global, China State Construction Engineering Set Up Joint Venture
Malaysian oil and gas services firm T7 Global said Friday it has set up a joint venture with China State Construction Engineering Corporation to bid for rail and construction projects.
*Malaysia's Paramount Corporation To Buy Land In Selangor For MYR149.7 Mln
Paramount Corporation, a Malaysian company with interests in education and property, said Friday its unit has entered into an agreement with Makmur Asiamaju to acquire land in Malaysia's Selangor for 149.7 million ringgit ( $37.70 million).
*Singapore's Nordic Group Unit Sells Property For S$3.43 Mln
Nordic Group, a Singapore-based system integration and maintenance solutions provider, said Friday its unit has disposed a property to Debenho for S$3.43 million ($2.58 million).
*MARKET BUZZ: Malaysia's P.A. Resources At 3-Year High On New Order Rumor
Malaysia's P.A. Resources +21.1% at MYR0.115, highest since October 2014 on speculation over likely U.S. contract win.
*Malaysia's RHB Bank Substantial Shareholder Mubadala May Sell MYR3.66 Bln Stake-Report
Abu Dhabi wealth fund Mubadala Investment Company may sell its stake in Malaysian lender RHB Bank that is worth 3.66 billion ringgit ($920 million), Bloomberg reported Friday.
*Singapore Retail Sales Up 5.3% On Year In November
Singapore retail sales rose on a year-on-year basis in November primarily due to a rise in sales at petrol service stations and supermarkets, data released by the department of statistics on Friday showed.
*Malaysia's AirAsia To Transfer Over 4-Hour Flights To Affiliate AirAsia X-Group CEO
Malaysian low-cost carrier AirAsia will transfer routes for over-four-hour flights to sister airline AirAsia X, chief executive Tony Fernandes said Friday in his twitter post.
*ASIA MARKETS: Energy Stocks, Wall Street Rally Lift Hong Kong Shares For 14th Day
Hong Kong shares set course for a record 14th straight day of gains on Friday, as rising oil prices helped lift energy shares and an overnight rebound on Wall Street boosted investor sentiment in Asia.
*Excalibur Global Financial, Wine's Link Rise In Hong Kong GEM Debut
Shares of Excalibur Global Financial Holdings and Wine's Link International Holdings rose at their trading debuts on Hong Kong's growth enterprise market board for smaller companies on Friday.
*HK-Listed NWS Holdings To Sell Beijing Airport Shares For About $302 Mln
NWS Holdings said it agreed on Thursday to raise up to HK$2.36 billion ($302 million) from a placement of Hong Kong-listed shares of Beijing Capital International Airport to fund its investment projects and meet general working capital needs.
*MARKET BUZZ: Malaysia's Dayang +3.7%; Hong Leong Positive On 2018 Outlook
Dayang Enterprise rebounds, now up 3.7% at MYR0.850 after Hong Leong Investment Bank highlights positive outlook for 2018.
*MARKET BUZZ: Maybank Keeps Neutral Call On Malaysia's Property Sector
Maybank Investment Bank keeps Neutral call on Property sector; expects potential rate hike, rising unsold stocks could dampen buying sentiment.
*MARKET BUZZ: Hong Kong's HSI Extends Record Winning Run; Energy Shares Lead
Hang Seng up 0.4% at 31,224.30, poised for 14th straight day of advance, as US markets hit record highs. Index now less than 400 points of record close of just below 31,600. Energy names pace advance on Wall Street and HSI after Brent crude tops $70 overnight to rise to highest in three-years; ends session at $69.26, up for fourth consecutive day.
*MARKET BUZZ: Malaysia Uzma At 1-Month High On New Order Win; TA Tips Profit Booking
Uzma rises 2.7% to MYR1.54, highest since December following new contract wins from Petronas Carigali.
*HK-Listed Eminence Enterprise To Buy Properties For HK$295 Mln, Lease Them Back
Property investment company Eminence Enterprise said it agreed to buy property owner Empire Sail and its Hong Kong properties in a HK$295 million ($37.7 million) deal to expand and diversify its property investment portfolio. It plans to lease the office units back to the seller Brilliant Circle Holdings International.
*China Maple Leaf To Raise About $128 Mln For Potential Acquisitions
China Maple Leaf Educational Systems said on Thursday it will raise up to HK$1 billion ($128 million) from a share placement and subscription deal for potential overseas acquisitions and general corporate purposes.
*MARKET BUZZ: Malaysia's Berjaya Sports Toto Up 0.9%; CIMB Raises Target To MYR2.90
Berjaya Sports Toto up 0.9% to MYR2.34 after CIMB Investment Bank raises target price to MYR2.90 from MYR2.85, keeps Add call.
*Taste Gourmet Postpones Hong Kong GEM Board Listing
Taste Gourmet Group said it is postponing the listing of its shares on Hong Kongs growth enterprise market board for smaller companies to Jan. 17 from Jan. 15.
*Hong Kong-Listed CIFI Holdings To Invest CNY1.52 Billion In China Property Venture
Chinese property developer CIFI Holdings Group said it plans to buy a 50% stake in Qingdao Yinshengtai Property, a Shandong province-based developer, in a deal worth a total 1.52 billion yuan ($234 million).
*MARKET BUZZ: Malaysia's KLCI Pares Gains; 1840 Cap Tipped -Malacca Securities
Malaysia's benchmark KLCI gives up some early gains, now +0.2% at 1820.75. Asian shares mostly higher ahead of China trade data due later today.
*China ZhengTong Auto To Raise Up To $223 Mln From Share Placement
China ZhengTong Auto Services Holdings said the automobile dealer has agreed to raise up to HK$1.74 billion ($223 million) from a placement of new shares to develop its automobile finance business.
*Hong Kong-Listed CW Group To Buy German Machine-Tools Company For EUR115 Million
Singapore-headquartered CW Group Holdings said it will acquire German machine-tools engineering company Brownstone Ventures for 115 million euros ($138.6 million) to broaden its customer base and supply channels.
*MARKET BUZZ: TA Cuts Malaysia's CIMB Group To Hold After Shares Run Up
TA Securities cuts CIMB Group Holdings to Hold from Buy after shares gained 11.6% since end-November; keeps target price at MYR7.00.
*MARKET BUZZ: Malaysia's KLCI Likely Lower Amid Weak Sentiment; 1807-1840 Tipped
KLCI likely to trend lower as sentiment weak after three consecutive sessions of losses; index ended down 0.3% at 1816.88 yesterday.
- By Kuala Lumpur Newsroom; email@example.com; +60320267363
- Edited by Ahana Sen Gupta
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