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Published: Friday January 6, 2012 MYT 8:54:00 AM
Updated: Friday January 6, 2012 MYT 9:04:38 AM

Malaysia-Market factors to watch Friday Jan 6


KUALA LUMPUR: Following is a list of events in Malaysia as well as news stories and press reports which may influence financial markets.

WHAT IS HAPPENING IN MALAYSIA, TIMES LOCAL FOLLOWED BY GMT:

> Signing ceremony between Malaysian Association of Tour & Travel Agents (MATTA) Academy Sdn Bhd and Talent Enhancement Academy UKM Holdings Sdn Bhd at Wisma MATTA, Jalan Metro Pudu, Fraser Business Park, Kuala Lumpur at 1100am (0300).

> Nikon Product launch at Berjaya Times Square Hotel, Jalan Imbi, Kuala Lumpur at 1230pm (0430).

MARKET SNAPSHOT:

* Malaysia's benchmark stock index rose 0.7 percent on Thursday, led by gains in the country's third largest planter Kuala Lumpur Kepong and teclo DiGi.Com.

* Banks led Wall Street to gains on Thursday even as Europe struggled again, a sign investors are betting a relatively strong U.S. economy will help U.S. stocks outperform other markets.

* The euro sank to a more than one-year low against the dollar and hit an 11-year low versus the yen on Thursday as strong U.S. data and nagging European debt fears underscored diverging expectations for some of the world's biggest economies.

* Malaysian crude palm oil futures slipped on Thursday on rekindled investor caution over the euro zone debt crisis, although weather concerns in oilseed growing regions limited losses.

IN THE NEWS REUTERS MALAYSIA

> Singapore's DBS says probing unauthorised withdrawals

> Telenor sees Asian growth as antidote to Europe's woes

> Investors bullish on Sing dlr, ringgit; add yuan bets

> China to ease up on rubber imports ahead of wintering

> CapitaLand to manage project in Malaysia's Iskandar

> Lynas awaits Malaysia OK for rare earths plant

* The South Korean won and the Philippine peso led emerging Asian currencies lower on Thursday, dragged down by rate cut expectations and absence of clear signs from Europe to improve its ability to refinance debts.

* Most Southeast Asian stock markets posted limited gains on Thursday as energy shares climbed in line with strength in oil, but renewed concerns about the euro zone debt crisis weighed on sentiment in late trade after European markets opened.

DIARY - Malaysia 06 January 2012

ALL TIMES ARE PROVISIONAL AND IN LOCAL TIME FOLLOWED BY GMT (IN BRACKETS)

FRIDAY, JAN 6

* KUALA LUMPUR - Defence Minister Ahmad Zahid Hamidi attends the ministry's monthly assembly at Dataran Wisma Pertahanan, Jalan Padang Tembak, Kuala Lumpur at 0730am (2330).

* PUTRAJAYA - MITI's International Trade Promotion Committee Meeting Programme 1/2012 at Menara Usahawan, MITI Putrajaya at 0900am (0100).

* BANGI, SELANGOR - Deputy Prime Minister Muhyiddin Yassin launches Vocational Transformation Strategic Plan Book at German-Malaysia Institute, Bangi at 0930am (0130), and attends Mesra Rakyat 1Malaysia programme and Chinese New Year contribution at Taman Bukit Maluri, Kepong at 1530pm (0730) .

* KUALA LUMPUR - 2012 Frost & Sullivan Malaysia Automotive Outlook at Frost &Sullivan Office, Block C, Plaza Mont Kiara, Kuala Lumpur at 1000am (0200).

* SUBANG JAYA - UMW Toyota Motor-new look Toyota Avanza launch at UMW Toyota Motor Sdn Bhd, Subang Jaya Branch, Subang Jaya at 1000am (0200).

KUALA LUMPUR - Signing ceremony between Malaysian Association of Tour & Travel Agents (MATTA) Academy Sdn Bhd and Talent Enhancement Academy UKM Holdings Sdn Bhd at Wisma MATTA, Jalan Metro Pudu, Fraser Business Park, Kuala Lumpur at 1100am (0300).

KUALA LUMPUR - Nikon Product launch at Berjaya Times Square Hotel, Jalan Imbi, Kuala Lumpur at 1230pm (0430).

* HULU SELANGOR - Prime Minister Najib Razak opens 1Malaysia Community Carnival at Bukit Sentosa, Hulu Selangor at 1530pm (0730), and attends 2011 Umno general assembly media appreciation night at Putra World Trade Centre at 2000pm (1200).

SATURDAY, JAN 7

KUALA LUMPUR - Bursa-Affin Investment Bank Market Chat at Securities Commission Malaysia, Kuala Lumpur at 1330pm (0530).

MONDAY, JAN 9

KUAKA LUMPUR - Release of International Reserves as at Dec 30, 2011.

* CYBERJAYA - CFS Group's CX5 launch at Computer Exchange (CX5), Jalan Cyberjaya Point 2, Cyberjaya at 1000am (0200)

PRESS DIGEST - MALAYSIA - Friday Jan 6

Following are the main stories in Malaysian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

THE STAR (www.thestar.com.my)

* Mulpha International Bhd's directors are disappointed at a reprimand from the Securities Commission (SC) that claimed the property developer failed to disclose information in a 2010 prospectus in "a full and true manner", Mulpha said in a statement.

* There is a possibility that the sale of electricity to Singapore may come from a power plant to be built at Petroliam Nasional Bhd's (Petronas) refinery and petrochemical integrated development (Rapid) complex in Pengerang, Johor.

NEW STRAITS TIMES

* Malaysia and Singapore are exploring a slew of cross-border initiatives, including the construction of an undersea tunnel linking Johor Baru and Singapore, Prime Minister Najib Razak said.

BUSINESS TIMES

* Xidelang Holdings Bhd (XDL), a Chinese footwear maker, says private equity firm Navis Capital Partners Ltd has made an offer to buy out the company's major shareholder, analysts said.

* Port Klang's tightly-knit port community are against the idea of building of a third container port in the area, suggesting the government build a port for niche trade instead, Westports executive director Ruben Emir Gnanalingam said.

THE SUN

* The list of foreign medical universities recognised by the Health Ministry will be slashed, possibly by as much as half, to ensure that the standards of the courses they offer are acceptable to the Malaysian government, Health director-general Hasan Abdul Rahman said.

* Tighter lending guidelines enforced by banks will dampen sales of entry-level vehicles, especially sub-compact cars, this year, according to research firm Frost & Sullivan.

THE EDGE FINANCIAL DAILY

* With Thursday's announcement of the proposed expansion of the Resorts World New York, Malaysia's Genting Group appears to have won the support of New York governor Andrew Cuomo to build the largest convention centre in the US, a project that may come with a full-fledged casino lincence.

THE MALAYSIAN RESERVE

* SapuraCrest Petroleum Bhd's subsidiary TL Offshore Sdn Bhd has finalised, executed and formalised two separate contracts with China-based Cosco (Nantong) Shipyard Co Ltd for the construction of two units of pipelay-cum-heavylift offshore construction vessels at a combined contract value of $227 million (712.33 million ringgit), SapuraCrest said.

* Kumpulan Wang Persaraan (KWAP) has completed its acquisition of a 14-storey ASX building in Sydney, Australia, for A$185 million (about 599.35 million ringgit), KWAP chief executive officer Azian Mohd Noh said.

Weather concerns to chart palm oil's course

KUALA LUMPUR, Jan 6 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday.

FUNDAMENTALS

* Malaysian crude palm oil futures slipped on Thursday on rekindled investor caution over the euro zone debt crisis, although weather concerns in oilseed growing regions limited losses.

* Grains tumbled on Thursday as investors fled risk assets to safe havens like the dollar on renewed concern over the euro zone debt crisis, with wheat slumping over 3 percent, the biggest drop in almost two months.

* Brent crude dropped back drastically and U.S. crude deepened losses near the close on Thursday as investors took a second look at data showing a surprise build in U.S. stockpiles and the sharp rise in the dollar encouraged traders to jettison riskier assets.

MARKET NEWS

* The euro sank to a more than one-year low against the dollar and hit an 11-year low versus the yen on Thursday as strong U.S. data and nagging European debt fears underscored diverging expectations for some of the world's biggest economies.

* A surprise build in U.S. crude stockpiles pulled oil prices down sharply on Thursday while grains markets tumbled on euro zone worries and a resurgent dollar, casting a pall over commodities' strong start to the year.

RELATED NEWS

> La Nina - herald of drought - may linger into spring

> Cargill to shutter Des Moines, Iowa soy plant

> Clock ticking for rains to save Argentine soy crop

> China probes another report of fake cooking oil at factory

> Argentine corn, soy to get ample rains-exchange

> Drought dents hope for bumper Brazil soy, corn crop

> Q1 commodity, energy technical analyses by Wang Tao - Reuters

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