Mulpha to buy Australian's Centro?

"The world's largest economy will grow at a 0.5 percent annual rate from January through March, capping the weakest six months since the last economic slump in 2001, according to the median estimate of 62 economists polled from Jan. 30 to Feb. 7. Federal Reserve Chairman Ben S. Bernanke will lower the benchmark interest rate a further half point by June, adding to the fastest easing since at least 1990, the survey showed. The odds of a recession over the next 12 months, pegged at 40 percent in January, jumped as payrolls, auto sales and stocks slumped." (Bloomberg, 8 February, 2008)

Centro Properties Group, the Australian owner of U.S. malls that put itself up for sale after failing to refinance debt, rose for the first time this week, adding 3 cent, or 5.7 percent, to 56 Australian cents. There is speculation Malaysia's Mulpha International Bhd. and an unnamed Middle East buyer are considering purchasing stock in Centro, the Australian newspaper said today without citing anyone. (Bloomberg, 7 February, 2008)

TM expects the additional 16.8 per cent stake in Excelcomindo to increase earnings per share in the near term and enhance its growth profile. TELEKOM Malaysia Bhd (TM) is buying another 16.8 per cent stake in PT Excelcomindo Pratama for RM1.43 billion, raising its holdings in Indonesia's third largest mobile phone operator to 83.8 per cent.TM told Bursa Malaysia Bhd yesterday that it is buying the stake in Excelcomindo (XL) from Khazanah Nasional Bhd through its unit Indocel Holding Sdn Bhd. (Btimes, 6 February, 2008)

Signs of tough times ahead... even CLSA is turning to Feng Shui masters to advise its clients:

So great is the interest in feng shui, that CLSA, a regional brokerage house, issued a feng shui client note which predicted the stock market would rise from May to August and the US dollar would remain weak. "Be mindful of your speculations, especially in the third quarter," said the note, which CLSA described as "topical" rather than a formal investment advisory. "Unfortunately we have no predictions on who will win Euro 2008 or who will be the next US president," CLSA said in its feng shui report. (Reuters)