Monday, March 13th, 2017

 

Wall Street flat as investors prepare for potential rate hike

NEW YORK, March 13 — US stocks were little changed today as investors preferred to hold their bets ahead of a widely expected interest rate hike by the Federal Reserve later this week. The Federal Open Market Committee, the central bank’s…


Sunway Construction, UEM Sunrise, IOI Properties, Tanco, Edaran, TRC Synergy, Sasbadi and Salutica

Sunway Construction, UEM Sunrise, IOI Properties, Tanco, Edaran, TRC Synergy, Sasbadi and Salutica

KUALA LUMPUR (March 13): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (March 14) may include the following: Sunway Construction, UEM Sunrise, IOI Properties, Tanco, Edaran, TRC Synergy, Sasbadi and Salutica.   

Sunway Construction Group Bhd confirms that its subsidiary Sunway Construction Sdn Bhd (SCSB) has bagged a construction job from intercity railway operator Mass Rapid Transit Bhd (MRT) worth RM212.3 million.

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Neo Group in exclusive talks for proposed acquisition of caterer

Neo Group in exclusive talks for proposed acquisition of caterer

SINGAPORE (March 13): Neo Group has entered into exclusive dealing agreement in relation to the proposed acquisition of shares in Lavish Dine Catering.

The parties to the agreement are Lavish, La Bonnie Pastries as well as vendors Lin Chih-Fen, Chew Kim Hong, Ling Boon Yew, Wong Yuk Yan, Neo Bee Hoe and Jerry Sim Chee Ling.

Under the agreement, the vendors, Lavish and La Bonnie agreed to provide Neo Group with an exclusive right to negotiate the proposed acquisition of Lavish during the period from Monday to June 30 2017.

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BHS Industries buys land from Pahang state to build power plant

BHS Industries buys land from Pahang state to build power plant

KUALA LUMPUR (March 13): BHS Industries Bhd last Friday received an approval letter dated Feb 17, from the Pahang State Government for the purchase of an additional 35.41 acres of land in Pekan for a power generation project using solid waste for RM873,447.

The approval was granted to its wholly-owned subsidiary Ultimate Ivory Sdn Bhd, according to the filing with Bursa Malaysia today.

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Bitcoin miners signal revolt amid sluggish blockchain

Bitcoin miners signal revolt amid sluggish blockchain

(March 13): You may not know it by looking at bitcoin’s recent price surge, but the infrastructure underpinning the world’s most popular virtual currency is teetering.

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China’s Doublestar to buy Kumho tyre stake in 955 billion won deal

(March 13): China’s Qingdao Doublestar Co said it has signed an agreement with Kumho Tire creditors to buy a 42 percent stake in the South Korean tyremaker in a deal that could enable Doublestar to further expand in China.

The deal, worth 955 billion won, or about US$830 million, could help turn Doublestar into China’s largest tiremaker if it can fend off a potential counter bid from Kumho Tires’ chairman, who has said he wants to put together a consortium of investors to buy back the stake.

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AppAsia to raise up to A$6m via ASX IPO for subsidiaries

AppAsia to raise up to A$6m via ASX IPO for subsidiaries

KUALA LUMPUR (March 13): AppAsia Bhd plans to inject four subsidiaries into AppAsia Ltd (AL), which it intends to list on the Australian Securities Exchange (ASX).

The four wholly-owned subsidiaries are: directly held AppAsia Studio Sdn Bhd, AppAsia Mall Sdn Bhd and AppAsia International Sdn Bhd, and indirectly held AppAsia International Pty Ltd.


Top Myanmar bank may sell stake to foreign firm, if law allows

Top Myanmar bank may sell stake to foreign firm, if law allows

(March 13): Myanmar’s largest privately-owned bank by assets says it’s willing to sell a stake to a foreign lender, pending a change in the country’s law, as it gears up to expand its operations in one of Asia’s most under-banked nations.

“In any emerging market, capital is important,” said Nang Kham Noung, an executive director of KBZ Bank. “For us, we are open to foreign partnership. However that’s subject to the central bank and the regulation,” she said in an interview last week in Yangon.

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Earthquake shakes buildings in Myanmar’s largest city Yangon — witnesses

Earthquake shakes buildings in Myanmar's largest city Yangon — witnesses

YANGON (March 13): An earthquake of unknown scale and magnitude briefly jolted buildings in Myanmar’s largest city and commercial hub of Yangon on Monday evening at around 8:50pm local time.

There were no immediate reports of damage or power cuts, with traffic in the center of the city moving smoothly.

 

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Kuwait supports extending OPEC production cuts beyond June

Kuwait supports extending OPEC production cuts beyond June

KUWAIT (March 13): Kuwait wants OPEC to extend output cuts beyond June, becoming the producer group’s first member to call for more time to balance the global oil market as the rally that boosted prices initially on the curbs has faded.

It’s too early for the Organization of Petroleum Exporting Countries to agree on an extension, Kuwait’s Oil Minister Issam Almarzooq said, according to official news agency Kuna. Iraq and Angola, two other OPEC members, have signaled a willingness to back cuts beyond the first half of this year.

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