NST Online Business Times : latest

Posted: 20 Jun 2013 06:47 PM PDT

SINGAPORE/KUALA LUMPUR: Malaysia's state pension fund has hired Goldman Sachs to consider its options with the fund's 41 per cent stake in RHB Capital Bhd, according to people familiar with the matter, which include a plan to buy the rest of the bank.

RHB, Malaysia's fourth-largest bank, has a market capitalisation of US$6.8 billion. Its second-largest shareholder, Abu Dhabi's Aabar Investment, holds a 22 per cent stake.

Malaysia's Employees Provident Fund (EPF) and Aabar were not immediately available to comment. A spokeswoman for Goldman Sachs declined to comment.-- Reuters

KL shares tumbles on global sell-off

Posted: 20 Jun 2013 06:52 PM PDT

Malaysia's benchmark stock index dropped in early trade as global equity markets continued to sell after the Federal Reserve said this week it was encouraged by the US economy's growth to begin slowing its stimulus.

The bond buying programme by the Fed had given support to the US economy and global financial markets by pushing interest rates to record lows.

The Kuala Lumpur stock index fell 1.4 per cent, led by losses in property developer UEM Sunrise and autos-to-oil and gas conglomerate UMW Holdings.

"Asian bourses will inevitably take a beating," Hwang DBS said in a research note to clients.

"Back home, the benchmark KLCI, which could test (and fall under) its immediate support level of 1,750 points, may revisit last week's intra-week low of 1,742.87 points."

HwangDBS also said investors will watch shares in the country's top lender, Malayan Banking Bhd (Maybank), after its disposal of a nine per cent stake in Jakarta listed PT Bank Internasional Indonesia.

It also picked out MBM Resources as a key stock to watch, as the auto distributor is targeting to lift its revenue to RM4 billion by 2015 from RM2.3 billion in 2012.-- Reuters

Kredit: www.nst.com.my

Khamis, 20 Jun 2013

NST Online Business Times : latest

NST Online Business Times : latest

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