Friday, June 26, 2009
Thursday, June 25, 2009
Wednesday, June 24, 2009
The combined economy of the world’s most-industrialized countries will shrink 4.1 percent this year and grow 0.7 percent in 2010, the Paris-based group, which was founded in 1961 to coordinate international economic policies, said today. The new projections compare with March forecasts for contractions of 4.3 percent and 0.1 percent.
The improved outlook conflicts with that of the World Bank, which this week said the global recession will be deeper than it predicted three months ago. In anticipating a weak recovery staggered across different economies, the OECD signaled that the Federal Reserve and Bank of Japan should not raise interest rates before 2011 and recommended the European Central Bank cut its benchmark further.
Wednesday, June 17, 2009
Prime Minister Datuk Najib Razak will make “significant announcements” related to his plans to ease restrictions on foreign investment. The announcements after a review of the Foreign Investment Committee (FIC) guidelines will be made in a speech during the Invest Malaysia conference in Kuala Lumpur on June 30 and July 1.
KUALA LUMPUR: Damac Properties (Malaysia) Sdn Bhd, which is part of Dubai’s Damac Group, has withdrawn from its proposed RM396.44 million land deal with UEM Land Bhd’s unit UEM Land Holdings Bhd.
UEM Land said on June 17 that it was notified by Damac stating that it was not agreeable to further extension of the extended approval period.
“Pursuant thereto, UEM Land Holdings Bhd wishes to announce that the sales and purchase agreement (SPA) in relation to the proposed disposal has lapsed and is of no further effect whatsoever,” it said.
The agreement was signed on June 12 last year. It involved UEM Land disposing of 43.54 acres of land in Puteri Harbour, Nusajaya to Damac for cash consideration of RM396.44 million.
The proposed acquisition, if it had gone through, would have resulted in the development of an integrated waterfront development consisting of residential, commercial, retail, dining and leisure facilities.
Saturday, June 13, 2009
BCHB . Sime . PBank . Maybank . Tenaga . IOI corp . Genting . Axiata . MISC . Resort TM . AMMB . DIGI . PPB . KLK . BAT . PLUS . Petronas Gas . YTL Corp . YTL Power . BJTOTO UMW . HLBank . Tanjong . MMC Corp . Astro . Parkson . Petronas Dagangan . RHBCap . MAS
Start from 6 July 2009.
Wednesday, June 10, 2009
Elliott Wave Theory interprets market actions in terms of recurrent price structures obedient to the Fibonacci sequence. Basically, Market cycles are composed of two major types of Wave : Impulse Wave and Corrective Wave. For every impulse wave, it can be sub-divided into 5 - wave structure (1-2-3-4-5), while for corrective wave, it can be sub-divided into 3 - wave structures (a-b-c).
In a statement June 10, Bursa drew investors' attention to the continuing rising price and strong trading interest in the securities of Measat and Transmile, following the companies' response to the unusual market activity (UMA) queries from Bursa Malaysia dated June 4 and 5 respectively.
It said Measat responded that the directors were not aware of any rumour or report concerning the business and affairs of the group and there was no material development other than preparation made by the company's wholly owned subsidiary, MEASAT Satellite Systems Sdn Bhd to launch the MEASAT- 3a satellite this month.
Transmile replied to the query also stating that the directors of the company were not aware of any rumour, report or material developments relating to the business and affairs of the group, said Bursa.
"Given the lack of material development based on the above response from the respective companies, Bursa Malaysia would like to advise investors to exercise caution and due diligence on the trading of Measat and Transmile securities," it said.
"The Exchange would also like to draw investors' attention to the high trading interest on some counters of late, which were not supported by new or material corporate developments."
Bursa Malaysia advised investors to be aware of the possible risks involved when making investment decisions based solely on market rumours and reminded them to exercise due care and diligence.
Bursa Malaysia said it was fully committed to ensure that the market operates in a fair and orderly manner, and has market surveillance tools and systems in place to monitor real-time trading activities and price movements.
"The Exchange will not hesitate to take appropriate regulatory action where necessary," it said.