Monday, October 17th, 2016

 

Wall St dips in choppy trade as focus turns to a further Fed signal

NEW YORK, Oct 17 — Wall Street inched lower in a choppy session today as an advance in technology and financial stocks offset the effects of lower oil prices and a dip in healthcare stocks. Investors are also awaiting Federal Reserve Vice… Source: The Malay Mail Online


Yinson, Green Packet, Takaful Malaysia, KPJ Healthcare, Maypak, Alcom, CIMB and Nexgram

Yinson, Green Packet, Takaful Malaysia, KPJ Healthcare, Maypak, Alcom, CIMB and Nexgram

KUALA LUMPUR (Oct 17): Based on corporate announcements and news flow today, companies that may be in focus on Tuesday (Oct 18) could include: Yinson Holdings Bhd, Green Packet Bhd, Syarikat Takaful Malaysia Bhd, KPJ Healthcare Bhd, Malaysia Packaging Industry Bhd, Aluminium Co of Malaysia Bhd , CIMB Group Holdings Bhd, Nexgram Holdings Bhd.

Oil and gas offshore support service provider Yinson Holdings Bhd saw 119.71 million shares in the company traded off market today for RM367.5 million.

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Source: The Edge Markets


Global stocks fall, bond yields retreat from four-month highs

NEW YORK, Oct 17 — Stocks around the globe were lower today and European bond yields fell from four-month highs as worries continued over the health of the global economy. US stocks remained near their late Friday levels as the global risk-off… Source: The Malay Mail Online


North Carolina estimates US$1.5 bil in hurricane damage to buildings

North Carolina estimates US$1.5 bil in hurricane damage to buildings

(Oct 16): North Carolina emergency officials have estimated that the destructive and deadly Hurricane Matthew caused US$1.5 billion worth of damage to more than 100,000 homes, businesses and government buildings in the state.

The state’s Department of Public Safety said in a release issued on Saturday that county and state officials were still surveying the damage left behind by the storm.

The department also said more than 33,000 applications for individual assistance to the Federal Emergency Management Agency (FEMA) have been filed and US$12.4 million has been approved.

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Source: The Edge Markets


NatWest decision over Russia’s RT is matter for bank — UK PM spokeswoman

LONDON (Oct 17): A decision by NatWest to withdraw banking services in Britain from state-funded Russian broadcaster RT is a matter for the bank, British Prime Minister Theresa May’s spokeswoman said on Monday.

RT published a letter from NatWest on its website saying that the bank, which is part of the Royal Bank of Scotland Group , had reached the decision after “careful consideration” and that the determination was final.

“It’s a matter for the bank and it’s for them to decide who they offer services to based on their own risk appetite,” May’s spokeswoman told reporters.

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Source: The Edge Markets


Goldman Sachs’ Schwartz to step down as Asia-Pacific chairman

Goldman Sachs’ Schwartz to step down as Asia-Pacific chairman

NEW YORK (Oct 17): Mark Schwartz, Goldman Sachs Group Inc.’s Asia-Pacific chairman, will step down at year-end and become a senior adviser.

Schwartz, 62, has worked at the firm for 27 years, and in his current role since 2012, the New York-based bank said on Monday in a memo to staff. Ken Hitchner will remain as president of Asia Pacific ex-Japan and Masa Mochida will continue to serve as president of Goldman Sachs Japan, according to the memo.

The Wall Street Journal reported Schwartz’s planned departure earlier Monday.

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Source: The Edge Markets


Stocks fall, bond yields retreat from 4-month highs

Stocks fall, bond yields retreat from 4-month highs

NEW YORK (Oct 17): Stocks around the globe were lower on Monday and European bond yields fell from four-month highs, as worries continued over the health of the global economy.

U.S. stocks remained near their late Friday levels, as the global risk-off mood clashed with a well-received earnings update from Bank of America, the country’s second-largest bank by assets.

A dip in energy and healthcare stocks offset the boost to financials from Bank of America’s strong results.

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Source: The Edge Markets


TH Heavy denies defaulting on RM170m sukuk murabahah

TH Heavy denies defaulting on RM170m sukuk murabahah

KUALA LUMPUR (Oct 17): TH Heavy Engineering Bhd has come out to say it has not defaulted on its non-rated sukuk murabahah, which has a nominal value of RM170 million.

In a filing to Bursa Malaysia today, TH Heavy said the variation of terms to extend the maturity date of the Islamic bond by one year from Sept 30 this year to Sept 29 next year, had earlier been approved by the sukukholders.

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Source: The Edge Markets


Maersk defends sending ships to Indian shipbreaking yard

Maersk defends sending ships to Indian shipbreaking yard

COPENHAGEN (Oct 17): Shipping conglomerate A.P. Moller-Maersk said on Monday that it was striving to improve workers’ rights at shipbreaking yards it uses in India, after criticisms of hazardous conditions.

The Danish company also expressed regret that a ship it sold this year, the “North Sea Producer”, had then been taken to a shipbreaking yard in Bangladesh, after Danish media last week showed workers using precarious rope ladders to climb the hull.

Source: The Edge Markets


Puncak Niaga buys Shin Yang’s oil palm unit for RM446 mil

Puncak Niaga buys Shin Yang’s oil palm unit for RM446 mil

KUALA LUMPUR (Oct 17): Shin Yang Holdings Sdn Bhd, the controlling shareholder of Sarawak Oil Palms Bhd (SOP) which is disposing of a major oil palm subsidiary to SOP, is now selling another oil palm outfit — this time to Puncak Niaga Holdings Bhd.

Shin Yang had previously sold Shin Yang Oil Palms (Sarawak) Sdn Bhd, which owns 47,000ha of plantation land in Belaga District in Sarawak, to SOP.

Sin Yang is now selling Danum Sinar Sdn Bhd to Puncak Niaga for RM446.51 million cash.

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Source: The Edge Markets