Malaysia Hot Stocks - Factors to watch
KUALA LUMPUR, April 7 (Reuters) - Here are news stories that may affect the Malaysian stock market on Monday.
SAMSUNG IN TALKS FOR $1.1 BLN PLANT IN PENANG -PAPER
- South Korean technology giant Samsng Electronics Co Ltd may invest 3.5 billion ringgit ($1.1 billion) in a memory chip plant in Malaysia's northern island of Penang, the New Straits Times reported on Monday, quoting sources close to the discussions.
FOREIGN INVESTORS KEEN ON AMASSURANCE STAKE -PAPER
- Malaysia's fifth largest banking group, AMMB Holdings (AMMB.KL), is in talks with foreign firms keen on a strategic stake in its AmAssurance life insurance arm, the Malaysian Reserve newspaper reported on Monday.
Existing foreign shareholder Insurance Australia Group (IAG.AX) wants to cut its 30 percent stake in the company and instead raise its holding in the group's general insurance subsidiary, AmG Insurance Bhd, the paper quoted Amarjeet Kaur, AMMB's group corporate services director, as saying.
MALAYSIA TO REVISE FUEL PRICING TO TARGET SUBSIDIES -PAPER
- Malaysia is considering a proposal to introduce two new varieties of petrol in an effort to target fuel subsidies at low and middle-class earners, the Straits Times reported on Sunday. Fuel subsidies would be mainly used to keep down the price of Octane 95, which can be used in most vehicles, while the more expensive Octane 99 would be aimed at owners of luxury cars, it quoted Domestic Trade and Consumer Affairs Minister Shahrir Samad as saying, but gave no details when the scheme will be launched.
MALAYSIAN MAYBANK EYES PAKISTAN BANK STAKE -PAPER
- Malaysia's largest lender, Malayan Banking (Maybank) (MBBM.KL), is exploring the possibility of buying a strategic stake in Pakistan's MCB Bank (MCB.KA), a Malaysian newspaper reported on Saturday.
For full details, please double-click on [ID:nKLR209198]
MAYBAN FORTIS TO BUY PT ANUGRAH LIFE INSURANCE
- Mayban Fortis, the insurance and takaful holding company of top lender Malayan Banking Bhd (MBBM.KL), will be the legal entity to pursue the planned purchase of PT Anugrah Life Insurance, Maybank said on Friday.
This is to comply with Indonesian law that requires a foreign holding company to maintain a majority of its portfolio in insurance business should it wish to become a shareholder of an Indonesian firm, Maybank said.
MALAYSIAN FEB FACTORY OUTPUT GROWTH AT 3-YEAR HIGH-POLL
- Malaysian industrial output in February probably logged its highest annual growth rate in over three years thanks to good demand for exports and a robust resources sector, with domestic consumption also on the rise.
For full details, please double-click on [ID:nKLR167099]
INDONESIA'S EXCELCOM SAYS MAY DELAY, CANCEL SHARE OFFER
- Indonesian mobile phone operator PT Excelcomindo Pratama Tbk (EXCL.JK) said on Friday it could delay or even scrap a plan to increase its free market float via a secondary offering if market conditions were not favourable.
Telekom Malaysia (TLMM.KL) holds 66.99 percent of Excelcom, while Malaysian state investor Khazanah Nasional Bhd controls 16.81 percent.
For full story, please double click on [ID:nJAK132527]
ISLAMIC FINANCE CAN GIVE EARLY WARNING OF DEBT WOES-INVESTORS
- The transparency and structure demanded of Islamic finance that is attracting investors burnt by the subprime crisis could well have provided warning signals of the impending debt turmoil.
For full story, please double click on [ID:nSP190969]
MALAYSIA MAY EASE IMPORT CURBS ON STEEL BARS, CEMENT -REPORT
- The government may consider easing restrictions on the import of steel bar and cement in Peninsular Malaysia, state news agency Bernama reported on Friday, quoting Trade Minister Muhyiddin Yassin.
MALAYSIAN LION PLANS UP TO $1.3 BLN IN INVESTMENTS
- Malaysian property-to-retailing firm Lion Diversified (LDIV.KL) will spend up to 4.2 billion ringgit ($1.32 billion) on an iron manufacturing complex and a mill to boost its steel-making capacity, a top official said on Friday.
For full story, please double click on [ID:nKLR241909] ($1=3.187 Malaysian Ringgit) (Reporting by Liau Y-Sing and Clarence Fernandez)
