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Tuesday March 20, 8:20 AMMalaysia Hot Stocks-Market seen =2FACTORS TO WATCH=================== - Malaysia has no urgent need to allow the ringgit to be traded offshore, Second Finance Minister Nor Mohamed Yakcop, the architect of the country's capital controls said on Monday, dampening talk that this last restriction would soon be lifted. For full story, please double click on [ID:nKLR53693] - National carrier Malaysian Airline System has yet to make any decision on the six Airbus A380 aircraft that it ordered in 2003, state news agency Bernama reported. Malaysia Airlines was responding to a newspaper report that the national carrier was likely to cancel the A380 orders after several delays in the delivery. - Gernan carmaker Volkswagen is close to a deal to take over the manufacturing unit of ailing Malaysian state-run carmaker Proton Holdings , the Financial Times (FT) reported on its Web site edition, citing senior VW executives. VW is "very close" to striking a deal that would give it a large slice of south-east Asia's biggest passenger car market, and a final pact might be inked as early as next week, the FT said, citing Kevin Rose, head of international sales at Volkswagen. - Malaysian builder Melati Ehsan Bhd may win a 1.4 billion ringgit contract to build up to 40 stores nationwide for French retail giant Carrefour in three years, the Business Times said on Tuesday, citing unnamed sources. Carrefour, which has 10 stores and a five per cent share of Malaysia's retail industry, plans to open four to six stores with a built-up area of 120,000 square feet each in the Malaysian capital, at a cost of 75 million ringgit each, the paper said. - Telekom Malaysia Bhd aims to grow revenues by a tenth this year but expects a small decline in profitability as it spends more overseas and on efforts to revive its fixed-line business, it said. For full story, please double click on [ID:nKLR296788] - Malaysia will ultimately re-list RHB Bank after its takeover by the state pension fund, the Employees Provident Fund, Second Finance Minister Nor Mohamed Yakcop said in an interview. - Malaysia's biggest oil palm planter, IOI Corp , plans to split each one of its shares into five, helping to make its stock more affordable, enable a wider spread of investors into its investor base and increasing liquidity, IOI said in a stock exchange announcement. - Malaysia's Islamic pilgrimage fund, Lembaga Tabung Haji, is selling 40 million shares of local power and engineering firm MMC Corp Bhd , a source familiar with the transaction said. For full story, please double click on [ID:nKLT004762] - Malaysia recorded an 8.9 percent increase in tourist arrivals to 1.58 million visitors in January from a year ago, led by Singaporean, Indonesian and Thai visitors, the government said in a statement. - Malaysia's battery maker ETI Tech Corp Bhd plans to list its overseas assets either on the Hong Kong stock exchange or London's junior stock exchange, AIM, to expand capacity, Managing Director Lee Kah Kheng told Reuters in an interview. For full story, please double click on [ID:nSP30762] - RHB Capital Bhd has no knowledge of Newbridge Capital Ltd's interest in buying a 20 percent stake in Malaysia's fourth-largest lending group, RHB Capital said in a stock exchange statement, replying to a stock exchange query on Newbridge, a US private equity firm. - Malaysian lending group Rashid Hussain Bhd said it was unaware of plans by its major Employees Provident Fund shareholder to cut debt by selling non-core assets like its Vision City property development, replying to a stock exchange query on a newspaper report. - State pension fund, the Employees Provident Fund's (EPF) total accumulated investments increased by 7.8 billion ringgit, or 2.8 percent, to 285.5 billion ringgit in the fourth quarter of 2006 from 277.6 billion ringgit in the previous quarter, state news agency Bernama said, citing EPF's chief executive officer, Azlan Zainol. - Oil and gas services firm Kejuruteraan Samudra Timur Bhd said it won a drilling equipment and services job from Petronas Carigali Sdn Bhd. The contract, effective from February 2007 for 4 years, has a two extension option, and is expected to contribute as much as 180 million ringgit in revenue over the period, Samudra said. |
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