US credit problems have officially arrived on our shores...
Malaysia's export growth probably slowed in December as a cooling U.S. economy and a rising ringgit hurt demand for the Asian nation's electronics goods, according to Bloomberg News economists survey. ``Deterioration in growth in the fourth quarter in major export markets such the U.S., Singapore and Japan will likely weigh down on export sales,'' said Irvin Seah, an economist at DBS Group Holdings Ltd. in Singapore. ``The continued strengthening in the ringgit is also hurting exports.'' The trade ministry's report is due in Kuala Lumpur tomorrow.
ASTRO going private?
ASTRO, Malaysia’s largest pay-television operator, jumped to a four-month high on renewed speculation its biggest shareholders will take the company private. “Speculation about the privatization resurfaced after CEO Odendaal decided to resign (on April 15)”, said Tai Kin Chiew, an analyst at Aseambankers Malaysia Bhd with a “hold” rating on the stock.
Second smelter planned for Sarawak
Plans to build a second, smaller smelter (in Mukah?) for Sarawak was unveiled today. The deal is backed by local aluminium fabricator Press Metal Bhd and would cost around RM2.5 billion (US$774 million). There were scanty details on this new proposal. Just to recap, Rio Tinto and its local partner, Cahya Mata Sarawak Bhd (CMS), proposed last year to build an aluminium smelter with initial annual production capacity of 550,000 tonnes and the potential to be scaled up to 1.5 million tonnes. The pair have yet to complete a feasibility study on the project, but they said today they had signed a memorandum of understanding with utility Sarawak Energy Bhd for the supply of power from Sarawak’s Bakun hydro scheme. CMS claims that the feasibility study is progressing well and will be completed in "months".
More details from Sime electricity sales out soon
Sime Darby Bhd, the main developer of a 2,400- megawatt power plant in Bakun, Borneo will sign agreements with Tenaga Nasional Bhd. and Sarawak Energy Bhd. on electricity sales today, the Edge reported.
Fiamma moving into property sector
Fiamma Holdings Bhd., the electrical-appliance maker plans to buy Uniphoenix Jaya Sdn. for 12.8 million ringgit and Oaksvilla Sdn. for 3.77 million ringgit to expand into property development. The proposal will be financed with a rights issue whereby Fiamma investors will be offered three rights shares and four warrants for every six shares they own, Fiamma said in a statement. Fiamma was unchanged at 80 sen.
Malaysia's export growth probably slowed in December as a cooling U.S. economy and a rising ringgit hurt demand for the Asian nation's electronics goods, according to Bloomberg News economists survey. ``Deterioration in growth in the fourth quarter in major export markets such the U.S., Singapore and Japan will likely weigh down on export sales,'' said Irvin Seah, an economist at DBS Group Holdings Ltd. in Singapore. ``The continued strengthening in the ringgit is also hurting exports.'' The trade ministry's report is due in Kuala Lumpur tomorrow.
ASTRO going private?
ASTRO, Malaysia’s largest pay-television operator, jumped to a four-month high on renewed speculation its biggest shareholders will take the company private. “Speculation about the privatization resurfaced after CEO Odendaal decided to resign (on April 15)”, said Tai Kin Chiew, an analyst at Aseambankers Malaysia Bhd with a “hold” rating on the stock.
Second smelter planned for Sarawak
Plans to build a second, smaller smelter (in Mukah?) for Sarawak was unveiled today. The deal is backed by local aluminium fabricator Press Metal Bhd and would cost around RM2.5 billion (US$774 million). There were scanty details on this new proposal. Just to recap, Rio Tinto and its local partner, Cahya Mata Sarawak Bhd (CMS), proposed last year to build an aluminium smelter with initial annual production capacity of 550,000 tonnes and the potential to be scaled up to 1.5 million tonnes. The pair have yet to complete a feasibility study on the project, but they said today they had signed a memorandum of understanding with utility Sarawak Energy Bhd for the supply of power from Sarawak’s Bakun hydro scheme. CMS claims that the feasibility study is progressing well and will be completed in "months".
More details from Sime electricity sales out soon
Sime Darby Bhd, the main developer of a 2,400- megawatt power plant in Bakun, Borneo will sign agreements with Tenaga Nasional Bhd. and Sarawak Energy Bhd. on electricity sales today, the Edge reported.
Fiamma moving into property sector
Fiamma Holdings Bhd., the electrical-appliance maker plans to buy Uniphoenix Jaya Sdn. for 12.8 million ringgit and Oaksvilla Sdn. for 3.77 million ringgit to expand into property development. The proposal will be financed with a rights issue whereby Fiamma investors will be offered three rights shares and four warrants for every six shares they own, Fiamma said in a statement. Fiamma was unchanged at 80 sen.
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