September, 2016

 

Genting Malaysia, Titijaya Land, Iskandar Waterfront, MISC, Berjaya Corp, Salutica, SapuraKencana and Astino

KUALA LUMPUR (Sept 29): Based on corporate announcements and news flow today, companies that may be in the news on Tuesday (Oct 4) could include the following: Genting Malaysia Bhd, Titijaya Land Bhd, Iskandar Waterfront City Bhd,MISC Bhd, Berjaya Corp Bhd, Salutica Bhd, SapuraKencana Petroleum Bhd and Astino Bhd.
 
Genting Malaysia Bhd’s indirect wholly-owned subsidiary, Resorts World Ltd, has finalised its proposed disposal of its stakes in Genting Hong Kong Ltd to Golden Hope Ltd (GHL) for US$415 million (about RM1.7 billion) in cash.

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Source: The Edge Markets


US stocks advance as anxiety over European lenders subsides

ZURICH, Sept 30 — US stocks advanced as Deutsche Bank AG erased losses in German trading and European shares pared declines, easing concerns that turmoil in the banking industry could spread. Financial shares rebounded from an eight-week low… Source: The Malay Mail Online


Titijaya buys two plots of Selangor land for RM2.4b GDV mixed project

KUALA LUMPUR (Sept 30): Titijaya Land Bhd is planning to buy a firm that owns two tracts of land totalling 46.2 acres in Bukit Raja, Selangor, which Titijaya intends to develop into a mixed project with a gross development value of RM2.4 billion.

According to Titijaya’s bourse filing today, it is proposing to buy NPO Builders Sdn Bhd for RM115.6 million, by issuing 79.73 million new shares at an issue price of RM1.45 apiece. 

The bigger plot of the lands is a 33.21 acre residential tract, while the remainder is a 12.99 acre commercial one. 

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Source: The Edge Markets


As Deutsche struggles, European bank rally creates investor dilemma

LONDON,  — While possibly Europe’s biggest “pain trade”, fund managers are under pressure to buy banking stocks despite the deep problems of Deutsche Bank and some other lenders in the region. A 9 per cent slump to record lows on Friday… Source: The Malay Mail Online


AXA, Allianz vie for StanChart’s general insurance distribution deal – sources

AXA, Allianz vie for StanChart's general insurance distribution deal - sources

SINGAPORE/HONG KONG/TOKYO (Sept 30): France’s AXA and Germany’s Allianz SE have advanced to the second stage of bidding for a Standard Chartered deal that would enable the sale of general insurance products through the bank’s Asian branches, people familiar with the matter said.

A unit of Japan’s MS&AD, Standard Chartered’s existing general insurance partner, has also progressed to the next round, one of the people added. It was not immediately clear if other suitors who had made initial bids were through to the second round, which included another Japanese insurer.

Source: The Edge Markets


Oil falls on firmer dollar and profit-taking after Opec rally

LONDON, Sept 30 — Oil prices fell as the dollar strengthened today and investors cashed in on crude’s 6 per cent one-day rise after Opec members agreed on output cuts for the first time in eight years to stifle a two-year price slide. Global… Source: The Malay Mail Online


MOTOR RACING: Alonso encouraged by Honda progress

MOTOR RACING: Alonso encouraged by Honda progress

SEPANG, Malaysia (Sept 30): Fernando Alonso was encouraged after trying out an updated Honda engine in his McLaren, even if running it in Friday’s practice sessions means he will be forced to start Sunday’s Malaysian Grand Prix from the back.

The Spaniard carries a 30-place grid penalty into Saturday’s qualifying session as the new power unit fitted to his car pushes his use of engine-related components further beyond his permitted allocation.

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Source: The Edge Markets


Russia questions Opec breakthrough, keeps budget bet on US$40 oil

SOCHI, Sept 30 — Russia is sticking with an assumption that oil will average US$40 (RM165.22) a barrel in the next three years and won’t take a bait by revising its budget outlook after a preliminary agreement by Opec on its first production… Source: The Malay Mail Online


RBC cutting 15 investment banking jobs in London – sources

RBC cutting 15 investment banking jobs in London - sources

LONDON/TORONTO (Sept 30): Royal Bank of Canada (RBC) is cutting 15 investment banking jobs in London amid a slowdown in activity in the region, sources familiar with the matter told Reuters.

RBC Capital Markets, the investment banking arm of RBC has in recent years made a series of senior hires in Europe, in an attempt to beef up its mergers and acquisitions (M&A) and equity capital markets (ECM) franchise in the region, where it employs around 200 people in the division.

Source: The Edge Markets


Black box recorder found in New Jersey train crash

Black box recorder found in New Jersey train crash

MILWAUKEE/WASHINGTON (Sept 30): Investigators have found the black box recorder aboard a commuter train that crashed into a station in Hoboken, New Jersey, killing one person and injuring 114, a U.S. safety spokesman said on Friday.

The event recorder was removed Thursday evening from the locomotive at the rear of the NJ Transit train that slammed into the terminal building during the morning rush hour, the spokesman for the National Transportation Safety Board said.

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Source: The Edge Markets