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By Kuala Lumpur Newsroom
Nikkei Markets
KUALA LUMPUR (Dec 22) — Here’s a roundup of latest news from Malaysia so far on Friday:
*ASIA MARKETS: Singapore Shares Decline For Third Week, Malaysian Equities Edge Higher
Singapore shares fell for the third straight week, weighed by losses in Thai Beverage and heavyweight Singapore Telecommunications. Malaysian stocks advanced, paced by mobile phone operators.
*Malaysian Resources To Start Talks With Govt On End Of Eastern Dispersal Link
Malaysian Resources Corporation, a construction and property firm, said Friday it will begin negotiations with the government on terms of the mutual termination agreement for the concession for the Eastern Dispersal Link highway.
*ASIA MARKETS: Nikkei Asia300 Index Posts Weekly Gains On US Tax Optimism
Asian stocks outside of Japan rose Friday to end the week higher, as global markets cheered the passage of a U.S. tax reform bill by Congress.
*Malaysia’s Sentoria Group Gets Housing Construction Jobs Totaling MYR67.30 Mln
Sentoria Group, a Malaysian property developer and resort operator, said Friday it has won two PRIMA houses building contracts totaling 67.30 million ringgit ($16.49 million).
*Malaysia’s Knusford: Parties Couldn’t Agree On Terms Of Philippines Project
Knusford, a Malaysian construction and heavy machinery firm, said Friday the parties in a construction project in Philippines couldn’t agree on terms of a contract worth $166 million.
*ASIA MARKETS: Hong Kong Shares End Week Higher On China Rebound, US Tax Plan
Hong Kong shares rose on Friday, sealing a second consecutive weekly advance, as a rebound for Chinese equities and the keenly awaited passage of a U.S. tax bill lifted sentiment.
*Malaysia’s Boustead Holdings To Buy Land From Major Shareholder For MYR143.51 Mln
Boustead Holdings: plans to buy land from its major shareholder Lembaga Tabung Angkatan Tentera (Armed Forces Fund Board) for 143.51 million ringgit.
*Evergrande Health Industry Group Wins Land Use Rights Bid For CNY839.76 Mln
Evergrande Health Industry Group, a Hong Kong-listed health management company, said Friday it has won the bid for the state-owned construction land use rights for five plots for 839.76 million yuan ($127.70 million).
*UPDATE: Tenaga Nasional Expects Decision On Sabah Unit By New Year
Malaysia’s national electric utility firm Tenaga Nasional expects a decision by the new-year on the fate of its loss-making unit Sabah Electricity following talks with the federal government, its chief executive said Friday.
*Malaysia’s Crescendo Corporation 3Q Net Profit Surges 29% On-Year
Crescendo Corporation, a Malaysian construction and property firm, said Friday its net profit surged 29% in the fiscal third quarter thanks to sales of higher-margin industrial properties.
*Singapore’s Ascendas Reit Acquires Office Property In Australia For A$106.2 Mln
Ascendas Reit, a Singapore-based real estate developer, said Friday it has acquired a suburban office property in Australia’s Queensland for A$106.2 million (S$109 million).
*Malaysia’s Paramount Corp In Development Rights Pact With Kumpulan Hartanah Selangor
Paramount Corp, a Malaysian company with interests in education and property, said Friday it has signed a development rights agreement with Kumpulan
Hartanah Selangor.
*Bank Negara Malaysia To Deregulate Operating Cost Control Limits For Life Insurers
Malaysia’s central bank plans to deregulate operating cost control limits for life insurance and family takaful business, a policy document published Friday showed.
*Luk Fook Holdings (International) To Buy Properties From Jaco For HK$560.71 Mln
Luk Fook Holdings (International), a Hong Kong-listed jewellery retailer, said Friday it has entered into an agreement with Jaco to buy properties worth HK$560.71 million ($85.28 million).
*Singapore’s BreadTalk Group Inks JV Deal With Japan’s Shinmei
BreadTalk Group, a Singapore-based bakery, food and restaurant business operator, said Friday its unit has entered into a joint venture pact with Japan’s Shinmei Co to support the food and beverages operations of BreadTalk’s companies globally.
*Malaysia’s CCM Duopharma Biotech Gets MYR156 Mln Contract From Pharmaniaga’s Unit
CCM Duopharma Biotech, a Malaysia-based pharmaceutical company, said Friday it has secured a contract from Pharmaniaga Logistics worth 156 million ringgit ($38.20 million).
*2nd UPDATE: Vicon Holdings Rises In Hong Kong Debut
Shares of Vicon Holdings rose 5% on their trading debut on Hong Kong’s main board after raising HK$120 million ($15.3 million) in gross proceeds from an initial public offering.
*NNK Group Expects To Swing To Loss In 2017, Higher Marketing Costs Weigh
NNK Group, a Hong Kong-listed mobile top-up services provider, said Friday it expects to swing to loss in 2017 as higher marketing costs related to campaign with Chinese banks weigh.
*Midland Holdings Expects ‘Substantial Increase’ In 2017 Net Profit
Midland Holdings, a Hong Kong-listed property agency, said Friday it expects to record a ‘substantial increase’ in net profit this year, helped by higher market transaction activity in the Hong Kong residential market.
*MARKET BUZZ: Hong Kong’s HSI Posts Best Week In 2-Months; US Congress Passes Tax Bill
Hang Seng closes up 0.7% to reach 29,578.01, extending its rally this week to 2.5%. Index’s best weekly performance since early-October comes after long awaited US tax cuts receive Congress approval.
*MARKET BUZZ: Malaysia HeveaBoard Up After Analyst Briefing; Hong Leong Cuts TP
HeveaBoard up 4.3% at MYR1.21 after analyst briefing. Hong Leong Investment Bank keeps Buy as company’s performance likely to improve from 4Q..
*Malaysia’s Forex Reserves Totalled $102.2 Billion As Of Dec 15
Malaysia’s central bank said Friday international reserves totaled $102.2 billion as of Dec. 15, higher than $101.9 billion on November 30.
*INTERVIEW: Ann Joo To Raise Steel Output 21% In 2018 On Higher Orders-Managing Director
Ann Joo Resources, Malaysia’s largest steelmaker by market capitalization, plans to raise production by 21% to meet increasing demand from domestic infrastructure projects, its managing director said.
*Hong Kong Unit Of LeEco Files For Liquidation – Nikkei Asian Review
Chinese tech conglomerate LeEco’s dream of global dominance hit a wall on Thursday, as it applied to wind up its Hong Kong subsidiary in the latest sign of its mounting financial troubles.
*Malaysia’s Pentamaster Unit Gets In-Principle Approval For Hong Kong Listing
Malaysia’s Pentamaster Corporation, a machinery and equipment maker, said Friday Hong Kong Stock Exchange has given approval-in-principle for the proposed listing of Pentamaster International, its automated solution business.
*ASIA MARKETS: Tencent, Property Developers Steer Hong Kong Shares Higher
Hong Kong shares extended gains on Friday morning after a rebound on Wall Street overnight, even as trading volumes remained thin ahead of a long holiday weekend.
*MARKET BUZZ: Malaysia’s Tenaga Nasional Up On Potential Govt Aid For Unit
Tenaga Nasional +0.4% at MYR15.02, after it said it is in talks with government to determine the future of its loss-making unit Sabah Electricity.
*BOC Aviation Inks Deal For Sale Of Two Aircraft, Market Appraised Value $251 Mln
BOC Aviation, a Hong Kong-listed aircraft operating leasing company, said Friday it has entered into an agreement for sale of two Boeing 777-300ER aircraft.
*MARKET BUZZ: Malaysia’s Dayang Enterprise Rebounds 4.5%; MIDF Ups TP
Dayang Enterprise Holdings +4.5% at MYR0.585, rebounds from six consecutive session of losses. MIDF Research raises target price to MYR0.95 from MYR0.83, keeps Buy call on strong earnings prospect.
*Chinese Company USD Bond Issuances More Than Double To Record In 2017 – Acuris
Chinese corporations raised a record $52.71 billion in U.S. dollar-denominated high-yield bond issuances in 2017, more than twice as much as they did last year, according to data from business intelligence provider Acuris.
*MARKET BUZZ: TA Sets FV For Malaysia’s Binasat At Premium To IPO Pric
TA Securities sets fair value of MYR0.60 for Binasat Communications, compared to IPO price of MYR0.46/share. IPO shares to be listed on Jan 8.
*MARKET BUZZ: Hong Kong’s HSI Higher, Tracking Wall Street
Hang Seng up 0.3% at 29,446.58 after US shares push higher overnight. S&P 500 resumes climb, edging up 0.2% to close just shy of record close hit earlier in week.
*MARKET BUZZ: Malaysia KLCI Pares Early Gains; Malacca Securities Tips 1730-1760 Range
Malaysia’s benchmark KLCI pares early gains, now at 1750.71, little changed from yesterday’s closing level.
*GCL New Energy To Sell Assets To China Resources Leasing, Lease Them Back
Solar-farm operator GCL New Energy Holdings said on Thursday it agreed to sell power assets related to a 100 megawatt power station in China’s Henan province to China Resources Leasing for 468.2 million yuan ($71.1 million), and lease them back.
*Genscript Units To Get $350 Million Upfront Payment For License Deal
Hong Kong-listed Genscript Biotech said its units signed a collaboration and license agreement with Janssen Biotech for development and commercialization of certain products in the field of multiple myeloma, a cancer, and will receive $350 million in upfront payments.
*MARKET BUZZ: Malaysia’s KLCI Likely Flat Ahead Of Holiday; 1729-1755 Band Tipped
KLCI likely little changed today as investors expected to be cautious before Christmas holiday on Monday; index ended up 0.3% at 1751.21 yesterday.
– By Kuala Lumpur Newsroom; kleditorial@nikkeinewsrise.com; +60320267363
– Edited by Ahana Sen Gupta
– Send Feedback to feedback@nikkeinewsrise.com
– Copyright (c) 2017 Nikkei NewsRise Asia Pte Ltd.
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