|
NEWS
|
|
|
Outside Malaysia:
U.S: Labor Conditions Index less rosy than payrolls data.
U.S. labor-market conditions, as measured by the Federal Reserve’s
barometer, fell 2.4% MoM in February, its fourth consecutive drop. The
decline sent the index to its lowest since 2009 and stands in contrast to
the better-than-expected gains in non-farm payrolls seen over the past
few months. The index, created by the Fed, combines 19 labor indicators
in an attempt to capture a broad and more robust description of
developments in the labor market and was lauded by Fed Chair Janet Yellen
in a 2014 speech. (Source: Bloomberg)
U.S: Borrowing by consumers rises least since November
2013 as Americans’ outstanding credit-card debt dropped for the first
time in nearly a year. The USD 10.5b advance in total credit followed a
revised USD 21.4b gain in the previous month, Federal Reserve figures
showed. Revolving debt, which includes credit cards, declined USD 1.1b,
the first decrease since February 2015. (Source: Bloomberg)
E.U: The ECB bought EUR 62.1b (USD 68b) of debt in
February, in the 12th month of a quantitative-easing program that has so
far brought policy makers no nearer to their inflation goal. Holdings of
public and private-sector debt climbed to EUR 774b, data on the ECB’s
website showed. The central bank plans to buy an average of EUR 60b a
month of bonds as it tries to revive inflation in the 19-nation euro
area. (Source: Bloomberg)
Germany: Factory orders fell for a second month in January
in a sign that a global slowdown and weak domestic pricing power may be
hurting Europe’s largest economy. Orders, adjusted for seasonal swings
and inflation, dropped 0.1% from the prior month, when they slid 0.2%,
data from the Economy Ministry showed. Orders climbed 1.1% YoY. (Source:
Bloomberg)
H.K: Residential home sales plunged 70% in February to a
25-year low, as falling prices and economic uncertainty deterred buyers.
Last month, 1,807 homes were sold in Hong Kong, compared with 6,027 a
year earlier, according to government statistics. Home sales fell from
2,045 in January, the data show. Property prices have declined 10% from
their September highs amid uncertainty over the economy at home and in
China, possible interest-rate increases and plans by the government to
boost housing supply in the next five years. Senior Hong Kong government
officials have ruled out relaxing property curbs, which include extra
stamp duties and caps on mortgage levels. (Source: Bloomberg)
|
|
|
|
|
|
|
Other News:
AWC: Sees MYR700m revenue from renewed concession. AWC has
secured a second building maintenance concession contract extension from
the government, including an asset refurbishment deal, that will generate
MYR700m over a 10-year period. Its unit, Ambang Wira Sdn Bhd (AWSB),
yesterday executed the privatisation agreement to provide building
maintenance support services and critical asset refurbishment programme
(CARP) for federal government buildings in the Southern zone and Sarawak
zone. The Southern zone covers the states of Malacca, Negri Sembilan and
Johor. (Source: The Sun Daily)
TSR Capital: Clinches MYR269m Kwasa Damansara contract.
TSR Capital has accepted a MYR268.9m contract for common infrastructure
works at the Kwasa Damansara township development in Sungai Buloh. Its
unit TSR Bina Sdn Bhd received on Monday the letter of award from
Employees Provident Fund unit Kwasa Land Sdn Bhd, master developer of the
2,230-acre Kwasa Damansara that has a projected gross development value
of MYR50b. The two-year contract is expected to be completed by March 12,
2018. (Source: The Star)
CIMB: CIMB Singapore to see more cost-cutting. CIMB Group
Holdings is looking to continue optimising costs this year by reducing
office floor space and introduce flexible work arrangemenrs (FWAs) for
employees in its Singapore operations. CIMB Singapore is planning to give
up one storey of its current office space in Singapore Land Tower in
Raffles Place, where it currently occupies 13,640 sq ft over 14 floors.
(Source: The Edge Financial Daily)
Carimin Petroleum: Gets Petronas Carigali contract.
Carimin Petroleum’s subsidiary, Carimin Engineering Services Sdn Bhd, has
secured a contract for the provision of mechanical services for Petronas
Carigali Sdn Bhd. The project was for a duration of two years from March
2, 2016, with an option to extend for another year to March 1, 2019. The
contract was on a call out basis with Petronas Carigali issuing the
release order as and when there are requirements to perform the services.
(Source: The Star)
MISC: Bids for LNG contracts in India. MISC is believed to
be tendering for Gail (India) Ltd’s time charter of liquefied natural gas
(LNG) vessel contracts. MISC is one of the three shipping groups
interested to make an offer of up to 11 newly built LNG vessels required
by Gail. Gail requested offers for eight firm ships, four of which can be
built in overseas shipyards, while the remaining four must be built in
India. The tender was first opened in mid-2014, but closed in February
2015, due to failure to attract bidders. It was reopened last September.
Gail has extended the tender for a month to attract more bidders. MISC is
believed to keep on participating. (Source: The Edge Financial Daily)
|
|
|
|
|
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.