Morning News - 1 June 2016 - BANKING / ASTRO / MMC / BAB / MRCB / PARKSON

Today’s Highlights

►    Sector Update – Banking (OVERWEIGHT, maintain) - April loan growth remained weak, 2H16 to pick up

►    Results Note – Astro (BUY, maintain) - Another good start to year

►    Results Note  – MMC (BUY, maintain) - Expecting a busy 2H

►    Results Note – Bumi Armada (HOLD, upgrade) - 1Q16 declines on weak FPSO & FGS earnings

►    Results Note – MRCB (BUY, maintain) - Property sale gains

►    Results Note – Parkson (SELL, maintain) - Still in the red

Quick Bites

►    Plantation: Malaysia to implement B10 and B7 programmes

Outside Malaysia            

►    S&P 500 closes little changed to end May with third monthly gain

►    Home prices in 20 US cities increase faster than forecast

►    Consumer confidence in US unexpectedly falls to six-month low

►    Euro area inflation rate stays negative as ECB mulls outlook

►    German unemployment rate falls to record before ECB meeting

►    India growth surges more than estimated before rate decision

►    Factory output in South Korea drops further amid weak exports

►    Crude oil extends decline ahead of OPEC meeting on Thursday