Malaysia Hot Stocks - Factors to watch
KUALA LUMPUR, March 12 (Reuters) - Here are news stories that may affect the Malaysian stock market on Wednesday.
MALAYSIA OPPOSITION TAKES AIM AT AFFIRMATIVE ACTION
- The newly elected opposition took power in Malaysia's industrial heartland on Tuesday and immediately said it would kill one of the nation's sacred cows -- affirmative action for majority ethnic Malays.
For full story, please double click on [ID:nSP209271]
FUND VIEW-Fund managers wary on Malaysia despite rebound
- Fund managers have turned bearish on Malaysia's construction sector on fears a weakened government may delay projects, but economic growth prospects will continue to attract funds to banks and consumer stocks.
For full story, please double click on [ID:nSIN233187]
ANALYSIS-MALAYSIA POLL: PAIN FOR INVESTORS NOW, GAIN LATER?
- Short-term investors are selling Malaysia, fearful of political instability and shifts in policy after Saturday's shock poll results, but the longer-term outcome could be a brighter investment climate.
For full story, please double click on [ID:nKLR202078]
MALAYSIA CHINESE PARTY CHIEF TO SHUN CABINET JOB
- The leader of Malaysia's main Chinese party in the ruling coalition will not seek a ministerial job following a shocking election setback at the weekend, his party said on Tuesday.
For full details, please double-click on [ID:nKLR252894]
MALAYSIA'S IOI EYES LAND, EUROPEAN UNITS
- IOI Corp (IOIB.KL), the world's third-biggest listed palm oil firm, plans to buy large tracts of plantation land in Malaysia and set up processing plants in Europe to boost revenues and take advantage of the global commodity boom.
For full story, please double click on [ID:nKLR166627]
For related Factbox, please double click on [ID:nKLR129249]
MALAYSIA'S TOP GLOVE DELAYS PLANTATIONS BUYS
- Top Glove Corp Bhd (TPGC.KL), the world's biggest rubber glove market, has started pricing its products in euros for European consumers after being hit by the weakening U.S. dollar, its chairman said on Tuesday. For full story, please double click on [ID:nKLR158267]
MALAYSIA'S PUNCAK INKS WATER DEAL ON EVE OF POLL
- Malaysian utility Puncak Niaga Holdings Bhd (PNHB.KL) has secured a water contract in a deal signed with the central Selangor government on the eve of Saturday's general elections, the company said on Tuesday.
For full story, please double click on [ID:nWNA6464]
UEM GROUP TO BUY OUT ENGINEER OPUS
- Malaysian construction and land company UEM Group will make a takeover bid for engineer Opus Group OPUI.KL as a result of UEM Group's recently announced restructuring, Opus said on Tuesday.
AMMB PLANS TO RAISE UP TO $425 MLN
- Malaysian lender AMMB Holdings Bhd (AMMB.KL) plans to raise up S$425 million in tier-one capital, the company said on Tuesday.
The funds would be raised by issuing non-cumulative perpetual capital securities, stapled to subordinated notes, it added.
HEXAGON WINS 61 MLN RGT CONTRACT
Malaysian engineer Hexagon Holdings Bhd (HGON.KL) has won a 60.9 million ringgit ($19 million) contract to build a new industrial complex in Melacca, Hexagon said on Tuesday. The project is to build a warehouse, production space, office and laboratory space for a local pharmaceuticals company, it said.
The project was scheduled for completion by March 2009.
BOSS OF COUNTRY HEIGHTS TO QUIT - BUSINESS TIMES
- The managing director and founder of Malaysian property firm Country Heights Holdings Bhd (CHHB.KL), Lee Kim Yew, is resigning but will keep his shares in the company, the Business Times said on Wednesday, quoting Lee.
"That is not true...I am not selling off my shares," he told the newspaper. "My shareholding is around 46 percent and I'm still a board member. There would be a change of management, a change for the better." ($1=3.200 Malaysian Ringgit) (Reporting by Mark Bendeich and Jalil Hamid)
