Company Update – MISC (SELL, downgrade) - Sailing into choppy waters

Today’s Highlights

►    Company Update – MISC (SELL, downgrade) - Sailing into choppy waters

►    Company Note  – KESM Industries (Not Rated) - Riding the automotive semiconductor wave

Quick Bites            

►    Construction: MMC-Gamuda face MRT land acquisition suit

►    Sunway Construction: Sunway Construction wins RM66.3m contract

►    SapuraKencana: SKPETRO announced the signing of GSA for SK310 B15 Gas Field

►    Genting Plantations: Proposed acquisition of two Indonesian plantation companies

Outside Malaysia            

►    US stocks continue selloff as Brexit angst weighs on sentiment

►    Moody’s says US state outlook stable as economy lifts revenue

►    UK rating cut two levels by S&P, one by Fitch after Brexit

►    Brexit contingency plan in place amid market volatility, Osborne says

►    Merkel rejects informal talks with UK before EU exit triggered

►    China’s Li sees increasing uncertainties after Brexit vote

►    Temer said to target gradual improvement in Brazil’s budget  gap

►    Oil caps biggest two-day loss since February on Brexit fallout