KL Trader Investment Research Articles
Maybank Research Headlines - 23 Dec 2014
| Local News |
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Water: MMC Corp: Salcon consortium wins MYR470m deal. MMC Corp has awarded a MYR470m sewage treatment contract to a proposed consortium comprising Salcon and Loh & Loh Construction Sdn Bhd. The 70-month project started yesterday and is due for completion on October 19 2020, which will involve the construction and maintenance of the facility within the Sungai Langat area in Selangor. (Source: The New Straits Times) Transportation: Prasarana Malaysia, Azmi appointed as Prasarana group MD. Azmi Abdul Aziz, former head of Rapid KL rail operations will return to Prasarana Malaysia to take the helm as the group managing director from Jan 1, 2015 replacing Datuk Seri Shahril Mokhtar, who has been appointed the new CEO of Mass Rapid Transit Corp Sdn Bhd. Azmi is currently serving as chief development officer of the Land Public Transport Commission (SPAD). (Source: The New Straits Times) Bina Puri Holdings: Bags MYR64.99m job, brings order book to MYR2b. Bina Puri Holdings through its wholly-owned subsidiary Bina Puri Sdn Bhd has bagged additional upgrading works for the proposed new Sabah State Administrative Complex in Sabah worth MYR64.99m. The project will commence construction today and has a completion period of 16 month will bring its unbuilt order book to MYR2.01b. (Source: The Edge Financial Daily) NCB Holdings: NCB, MMC yet to talk about collaboration. NCB Holdings controlled by Permodalan Nasional Bhd (PNB) has still yet to make plans for future collaboration with MMC Corp. The group board of directors is scheduled to meet in the middle of next month and MMC Corp is due to appoint a representative to the board. NCB are also targeting to raise the asset utilisation rate from the current 75% to 90% by end 2015. (Source: The Edge Financial Daily) |
| Outside Malaysia |
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U.S: Housing in uneven recovery as home sales decrease. Sales of previously owned U.S. homes slumped in November from a one-year high, underscoring the uneven nature of the current recovery in residential real estate that’s been one of its defining characteristics. Purchases fell 6.1% to a 4.93m annual rate last month, the weakest reading since May, from a 5.25m pace in October, figures from the National Association of Realtors showed. Demand dropped in all regions of the country, suggesting anomalies such as bad weather were not at play, the group said. (Source: Bloomberg) China: Ruble swap shows country challenging IMF as emergency lender. China is stepping up its role as the lender of last resort to some of the world’s most financially strapped countries. Chinese officials signaled Saturday that they are willing to expand a USD 24b currency swap program to help Russia weather the worst economic crisis since the 1998 default. China has provided USD 2.3b in funds to Argentina since October as part of a currency swap, and last month it lent USD 4b to Venezuela, whose reserves cover just two years of debt payments. By lending to nations shut out of overseas capital markets, Chinese President Xi Jinping is bolstering the country’s influence in the global economy and cutting into the International Monetary Fund’s status as the go-to financier for governments in financial distress. While the IMF tends to demand reforms aimed at stabilizing a country’s economy in exchange for loans, analysts speculate that China’s terms are more focused on securing its interests in the resource-rich countries. (Source: Bloomberg) |
Source: Maybank Research - 23 Dec 2014
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2014-12-23 17:10