Tomorrow's headlines today

Talks With Abu Dhabi Bank Positive For RHB Cap, Says EPF (BN)
The Employees Provident Fund (EPF), currently in talks with Abu Dhabi Commercial Bank (ADCB) to sell a 25 percent stake in RHB Capital Bhd, is confident the move will positively help grow RHB Capital into a strong regional financial services group.

Volkswagen To Remodel Wholesale Operations In Malaysia (BN)
Volkswagen AG is reviewing its business strategy, which will result in remodeling of the group's wholesale operations in Malaysia after the initial plan for the German car maker to become a strategic stakeholder in Proton Holdings Bhd did not take off.

Was rally on palm oil futures overdone? (BL & R)
According to Bloomberg, palm oil futures in Malaysia, the global benchmark, declined on speculation a rally was overdone and as a forecast record harvest of the tropical oil is expected to ease supply concerns. Palm oil for March delivery fell 25 ringgit, or 0.84 percent, to 2,950 ringgit ($880) a ton on the Malaysia Derivatives Exchange. But an article by Reuters painted a different story for December output. Palm planters in flood-hit areas said their output is likely to decline 20 to 30 per cent this month. “I think December production is going to be down. At this stage it is difficult to say how much but the estimate for 2007 production is 15.5 to 15.7 million tonnes,” Datuk Sabri Ahmad, chairman of Malaysian Palm Oil Board, told Reuters.

Tiger heats up competition; meanwhile AirAsia will fly to Guangzhou (S)
Tiger Airways Pte ordered 20 planes valued at $1.3 billion from Airbus SAS as it sets up a base in South Korea and expands in Australia, Malaysia and India. The deal will boost Tiger Air's total orders to 66. AirAsia Bhd., Southeast Asia's biggest discount carrier, and Indonesia's PT Lion Mentari both have more than 100 planes on order as economic growth and liberalization boost air travel. Other news: AirAsia will offer daily, direct flights to Guangzhou via the Baiyun International Airport beginning January 16 next year.

ASB holders to collect 9 sen in dividend and bonus (S)
Amanah Saham Nasional Bhd has announced an income distribution of 8.00 sen per unit and a bonus of 1.00 sen per unit for Skim Amanah Saham Bumiputera (ASB) for the financial year ending Dec 31, 2007.

CITIGROUP raised Gamuda TP but maintained “sell” for the stock (BT)
CITIGROUP raised the target price on Gamuda Bhd to RM3.88 from RM3.78, citing the builder's Vietnam property project. However, the Wall Street bank cut its earning estimate for Gamuda by 4.9 per cent to RM313 million for the financial year 2008. Citigroup kept the stock at "sell". The stock was traded at RM4.60 yesterday

NGV Tech set to bag US$400m shipbuilding job (BT)
Its executive chairman, Zulkifli Shariff, said the company, which has the expertise to build bullet-proof ships, is in the midst of completing the negotiations on the terms of the contract. “For a start, we will sign an agreement with the government of Egypt to deliver 22 ships and this will take place in February next year,” he told reporters at the launch of the company’s shipyard by Prime Minister Datuk Seri Abdullah Ahmad Badawi in Banting today.