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By Kuala Lumpur Newsroom
Nikkei Markets
KUALA LUMPUR (Dec 29) — Here’s a roundup of latest news from Malaysia so far on Friday:
*ASIA MARKETS: Nikkei Asia300 Index Rises 37% In 2017 As Global Economic Growth Picks Up
The Nikkei Asia300 Index rose 37% this year as pickup in global growth, U.S. tax reforms, and continued monetary policy support from major central banks prompted a surge in risk assets. Technology companies in China and South Korea were among the top performers.
*Malaysia’s Pentamaster Says Hong Kong Unit Starts Taking Orders For IPO
Malaysia’s Pentamaster Corporation, a machinery and equipment maker, said Friday its Hong Kong unit has started taking orders from investors for its initial public offering of shares.
*ASIA MARKETS: Singapore Stocks Post Best Yearly Gains In Five, Malaysia Shares Snap Three-Year Losses
Singapore shares chalked their best annual advance in five years, led by lenders and property developers. Malaysia stocked ended a three-year losing streak, paced by financials.
*Malaysia’s Airasia X Names Tony Fernandes As Group Ceo
AirAsia X, the long-haul unit of Malaysian budget carrier AirAsia, said Friday it has appointed Anthony Francis Fernandes, better known as Tony Fernandes, as its co-group chief executive.
*Singapore’s CapitaLand To Sell Stake In Indian Retail Mall Assets For S$71.5 Mln
Singapore property company CapitaLand said Friday its units have entered into agreements to sell stake in six retail mall assets in India and a property management company for S$71.5 million ($53.52 million).
*Hopewell To Sell 66.7% Hopewell Highway Infrastructure Stake For HK$9.87 Bln
Hopewell Holdings, a Hong Kong-listed infrastructure and property company, said Friday it has entered into an agreement to sell 66.7% stake in Hopewell Highway Infrastructure to Shenzhen Investment International Capital Holdings Infrastructure Co. for HK9.87 billion ($1.26 billion).
*Malaysia’s Cypark Resources 4Q Net Profit Rises 40.4% On Year
Cypark Resources, a Malaysian environmental engineering firm, said Friday its net profit for the fiscal fourth quarter grew 40.4% on year due to higher contribution from all business segments.
*ASIA MARKETS: Mainland Inflows Help Hong Kong Shares Clock Best Year Since 2009
Hong Kong shares logged their best annual advance in eight years, as attractive valuations and upbeat corporate earnings outlook lured inflows from China while a global equity rally fueled investor enthusiasm.
*Malaysia’s OCK Group Declares MYR0.01/Share Interim Dividend, Payable March 28
Malaysian telecom services firm OCK Group said Friday it plans to pay a dividend of 0.01 ringgit per share for the financial year ending Dec. 31, 2017.
*Malaysia’s SC Estate Builder Gets MYR22 Mln Project Management Services Contract
Malaysian construction company SC Estate Builder said Friday its unit SC Estate Construction won a project management services and turnkey contract worth 22 million ringgit ($5.43 million).
*Malaysia’s MMC Corporation Gets Additional Tax Claims Totalling MYR45.91 Mln
MMC Corp, a Malaysian logistics and engineering firm, said Friday it has received notices of assessment from Royal Malaysian Customs totalling 45.91 million ringgit ($11.32 million).
*CRRC Corporation Signed Contracts Worth CNY68 Bln In Oct-Dec
CRRC Corporation, a rail transit equipment supplier, said Friday it entered into contracts worth 68 billion yuan ($10.44 billion) in October to December.
*Malaysia’s Tan Chong Motor Holdings Names Khor Swee Wah As Group CEO
Malaysia’s Tan Chong Motor Holdings, which mainly assembles Nissan-branded vehicles, Friday named Group Senior Executive Vice President Khor Swee Wah as its group CEO effective Jan. 1.
*Bank Of Gansu Expects To Raise Up To $784 Million In Hong Kong IPO
Bank of Gansu on Friday said it expects to raise up to HK$6.13 billion ($784 million) in gross proceeds from an initial public offering in Hong Kong.
*MARKET BUZZ: Hong Kong’s HSI Posts Best Yearly Performance Since 2009; Tencent, Insurers Lead
Hang Seng ends 0.2% higher at 29,919.15 today, taking its advance for the year to 36%. Year’s rally comes as positive outlook for global economic growth and muted inflation expectations prompt rally in markets worldwide.
*West China Cement Expects ‘Substantial Increase’ In 2017 Net Profit
West China Cement said Friday it expects to record a substantial increase in net profit this year thanks to higher average cement selling prices.
*Arts Optical International Holdings Expects ‘Substantial Loss’ In 2017
Arts Optical International Holdings said Friday it expects to record a substantial loss this year due to lower revenue and additional costs and expenses.
*Everbright Grand China Expects To Raise Up To $21 Million In Hong Kong IPO
Everbright Grand China Assets said on Friday it expects to raise up to HK$164.5 million ($21 million) in gross proceeds from an initial public offering in Hong Kong.
*UPDATE: China Drives Asia’s Record International Bond Issuances For 2017 – Dealogic
Bond issuers in Asian countries outside of Japan raised a record $438.93 billion through notes issued in U.S. dollars, Japanese yen and euros this year, up nearly 40% from the year ago, according to markets data provider Dealogic.
*MARKET BUZZ: Malaysia’s Versatile Rebounds 3.1% On E-Concept Store Opening
Versatile Creative +3.1% at MYR0.66, rebounds from 20-month low yesterday, on opening of IRISPAY station E-Concept Stores.
*Malaysia’s Cahya Mata Sarawak Group MD Richard Alexander John Curtis Retires
Cahya Mata Sarawak, a Malaysian construction and building materials firm, said Friday its group managing director Richard Alexander John Curtis will retire, effective from December 31.
*C-Mer Eye Care Expects To Raise Up To $73 Million In Hong Kong IPO
C-Mer Eye Care Holdings said on Friday it expects to raise up to HK$571.3 million ($73 million) in gross proceeds from an initial public offering in Hong Kong.
*Rosedale Hotel To Buy Resort Property For CNY280 Million
Rosedale Hotel Holdings said Friday it has entered into an agreement to buy Guangdong Kangquan Eighteen International Eco-Health Travel Co., which owns a resort property in Guangdong Province, for 280 million yuan ($42.95 million).
*Malaysia’s Advancecon Holdings Gets MYR45.83 Mln Contract
Advancecon Holdings, a Malaysian construction company, said Friday its unit has received an earthworks and ancillary works contract worth 45.83 million ringgit ($11.30 million) from Worldwide Property Management.
*ASIA MARKETS: Hong Kong’s Hang Seng Index Nears 30,000 On Year’s Final Trading Day
Hong Kong shares advanced on Friday, with gains in mainland companies and casino operators propelling the city’s main gauge closer to the 30,000 mark.
*MARKET BUZZ: Casinos Help Hong Kong’s HSI Edge Higher
Hang Seng up 0.1% at 29,899.52 tracking overnight advance on Wall Street. Most Asian markets higher; Nikkei Asia300 Index of companies outside Japan adds 0.3%.
*MARKET BUZZ: Kenanga Starts Malaysia’s Sime Darby Plantation With MYR5.50 TP
Kenanga Investment Bank initiates coverage on Sime Darby Plantation with Market Perform call and target price of MYR5.50.
*China Aircraft Leasing To Buy 50 Airbus Planes For $5.42 Billion
China Aircraft Leasing Group Holdings said it will buy 50 Airbus A320neo series planes for a list price of $5.42 billion.
*Beijing Gas Blue Sky To Buy Stake In Gas Receiving Terminal For 1.01 Billion Yuan
Chinese natural gas distributor Beijing Gas Blue Sky Holdings said it agreed to buy Beijing Gas JingTang Co for 1.01 billion yuan in an all-stock deal.
*LHN Shares Surge In Hong Kong Trading Debut
Shares of real estate manager LHN jumped as much as 37.9% in early trade as they made their debut on Hong Kong’s main board after raising HK$79.8 million ($10.2 million) from an initial public offering.
*MARKET BUZZ: Malaysia KLCI Holds On To Gains; Faces 1793-1796 Hurdle
Malaysia’s benchmark KLCI steady in early trade, holds on to 0.1% gain at 1780.00, in line with most Asian shares, which are higher tracking overnight gains in U.S. stocks.
*MARKET BUZZ: TA Cuts Malaysia’s Luster To Sell On Earnings Prospect Doubts
TA Securities downgrades Luster Industries to Sell from Buy, cuts target price to MYR0.105 from MYR0.145 on doubt over ability to sustain earnings momentum in future and a proposed casino project.
*MARKET BUZZ: Malaysia’s KLCI Likely To Test Year’s High On Window Dressing -TA
KLCI likely to trade higher amid window dressing activities on last trading day of 2017; index ended up 0.4% at 1779.10 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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