Malaysia Morning News For February 14

Malaysia unlikely to face property bubble
Malaysia unlikely to face property bubble as the various pre-emptive measures already in to stabilise the market, including measures implemented by Bank Negara Malaysia (BNM).
— New Straits Times

Ringgit gets boost ahead of GDP announcement
The ringgit opened higher against the US dollar this morning as the greenback retreated from recent gains and amid positive local sentiment ahead of the announcement on Malaysia’s 2017 gross domestic product (GDP) figure, dealers said.
— The Star Online

Southern Steel’s net profit jumps 91.41pc to RM69.96m in Q2
Southern Steel Bhd’s net profit in the second quarter (Q2) ended December 31, 2017, rose 91.41 per cent to RM69.96 million from RM36.55 million in the same period a year ago, due to higher sales volume and marginally higher margin despite higher material cost.
— New Straits Times

CIMB IB Research lowers target price for OWG to RM1.35
CIMB IB Research has maintained its “Hold’ rating on Only World Group Holdings Bhd (OWG) at RM1.34 with a lower target price (TP) of RM1.35 (from RM1.90) and said OWG’s 1HFY6/18 net profit of RM4.7 million was below expectations at 14%/34% of house/ Bloomberg consensus full-year forecasts.
— The Edge Markets

Bursa Malaysia well supported by fundamentals
Maybank Investment Bank said Bursa Malaysia is well supported by sound domestic fundamentals despite the recent sell down stoked by the Dow Jones’s correction.
— The Star Online

Malaysia’s opposition objects to proposed to new vote boundaries
Malaysia’s opposition and an election watchdog submitted objections on Tuesday to the redrawing of some constituency boundaries, which they said would favor Prime Minister Najib Razak in a general election due by August.
— Business Insider

TNB develops human capital expertise in energy sector
Tenaga Nasional Bhd (TNB) has set up a technical training centre in Kota Belud, Sabah to beef up its staff competency, via its subsidiary Sabah Electricity Sdn Bhd (SESB).
— New Straits Times

Masteel may trend higher, says RHB Retail Research
RHB Retail Research said Malaysia Steel Works (KL) Bhd (Masteel) may trend higher after it climbed above the 55-day SMA line yesterday.
— The Edge Markets

Wegmans plans to use IPO proceeds to double its manufacturing capacity
Furniture maker Wegmans Holdings Bhd plans to use proceeds from its initial public offering (IPO) to double its manufacturing capacity in Muar, Johor.
— New Straits Times

Great Eastern looking at IPO, sale of stake in Malaysia
Great Eastern has started the process to reduce its stake in its Malaysian unit, says its chief executive officer Khor Hock Seng.
— The Star Online

SC charges chairman of Three-A Resources for insider trading
The Securities Commission has today charged Three-A Resources Bhd (3A) chairman Datuk Mohd Nor Abdul Wahid with insider trading.
— New Straits Times

Seacera announces plan to buy into Teras Sari Resources, the day latter bags RM338m contract
Tile manufacturer Seacera Group Bhd’s unit Seacera Builders Sdn Bhd proposes to buy a 70% stake in Teras Sari Resources Sdn Bhd, a company which today accepted a letter of intent for road upgrading work in Pahang for RM338 million.
— The Sun Daily

Mustapa to meet Proton dealers, vendors
The government is concerned about the challenges faced by Proton Holdings Bhd’s dealers and vendors, said Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed.
— The Star Online

European group to bid for Malaysia-Singapore high-speed train
A powerful European consortium that includes Alstom and Siemens has partnered with a Malaysian firm to bid for a high-speed train project connecting Malaysia and Singapore, the companies announced Monday.
— AsiaOne

5 themes to dominate 1H18’s stock market: Maybank IB
The Malaysian stock market is well supported by sound domestic fundamentals despite the recent sell down stoked by Dow Jones’ correction, according to Maybank Investment Bank (Maybank IB).
— New Straits Times

Next RCEP meeting will be crucial, says Mustapa
The next Regional Comprehensive Economic Partnership (RCEP) meeting, which will be held at the ministerial level on March 2, will be a crucial one to discuss the progress of the trade deal.
— The Sun Daily

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