(Corrects Excelcomindo item to make clear profit fell, not
KUALA LUMPUR Feb 21 Here are news stories that
may affect the Malaysian stock market on Thursday.
MAYBANK Q2 NET PROFIT FALLS
Malaysia's top lender, Malayan Banking Bhd (MBBM.KL),
reported a 7.7 percent drop in quarterly profit on Wednesday,
due to slower growth in non-interest income.
But rising costs and margins squeezed by competitors will
remain a worry, Maybank, the country's third-most valuable
listed company, said in a statement.
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INTERVIEW-FUND HOUSE FRANKLIN KEEN TO ENTER MALAYSIA
- U.S. fund manager Franklin Templeton, fresh from buying
into a Vietnamese investment firm, said on Wednesday it wanted
to expand into Malaysia next to round out its operations in the
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MALAYSIA JAN CPI UP 2.3 PCT YR/YR, NEAR FORECAST
- Malaysian annual inflation stood at 2.3 percent in
January, easing slightly from a 10-month high, after transport
prices rose at a slower pace, official data showed on
The increase in consumer prices was just shy of the 2.4
percent rise forecast by economists. Inflation had stood at 2.4
percent in December, which was the highest since a 3.1 percent
increase in February.
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INDONESIA EXCELCOM SAYS 2007 NET PROFIT FALLS ON TAX
- Indonesia's third-largest mobile phone operator, PT
Excelcomindo Pratama Tbk (EXCL.JK), said on Wednesday its 2007
net profit dropped 61.5 percent due to withholding tax and
foreign exchange losses.
Excelcom is controlled by Telekom Malaysia Bhd (TLMM.KL).
For full story, please double click on [ID:nJAK123987]
CHINA FIRM WINS MALAYSIAN POWER-PLANT PROJECT
- Malaysia's state power utility, Tenaga Nasional
(TENA.KL), has awarded a 1 billion ringgit ($310 million)
power-plant project to China National Electric Equipment Corp
(CNEEC), Tenaga said on Wednesday.
State-owned CNEEC won the bidding to build a 300-megawatt
coal-fired power plant in Malaysia's eastern state of Sabah on
Borneo island, Tenaga said in a statement.
CHIPMAKER UNISEM Q4 NET PROFIT UP 161 PCT
Chipmaker Unisem (M) Bhd (UNSM.KL) posted a 161 percent
rise in net profit for the fourth quarter to Dec. 31, 2007 from
a year ago due to higher sales, increased capacity utilisation,
the company said.
MENTIGA NAMES IRON ORE PROSPECTOR
Mentiga Corp (MENT.KL) has awarded a mining contract to a
mining operating firm, Edubest Resources Sdn Bhd, to mine iron
ore at its concession areas in the central state of Pahang,
Mentiga said in a statement to the stock exchange.
It said Edubest is part of Hong Kong-based Prosperity
"The venture would have a positive financial impact on
Mentiga in the next financial year and would enable Mentiga to
clear their old debts," it said.
MALAYSIA'S MAYBANK IN TALKS FOR SE ASIA BANK -PAPER
Malaysia's largest lender, Malayan Banking Bhd (MBBM.KL),
is in talks to buy an offshore commercial bank in Southeast
Asia, possibly in Indonesia, the Business Times said on
(Reporting by Liau Y-Sing and Mark Bendeich)