Kenanga Today : 23 July 2012

NEWS HIGHLIGHTS

- MMC eying JV with PAAB (Comment included in Kenanga Today)

- Sabri: PKNK’s sale of FGVH shares won’t affectany quarter

- Sime Darby plans Liberian palm oil bulking facilities

- DRB-HICOM, Proton lifeline for Lotus

- AFG unaware of progress on DBS-Temasek talks

- Guan Chong shareholders okay Singapore dual listing plan

- Top Glove plans to spend RM3.0b on capex

FOREIGN NEWS HIGHLIGHTS

- Viacom is said to get over USD600.0m a year from DirecTV

- Citic to buy Credit Agricole’s CLSA unit for USD1.25b

ECONOMIC NEWSHIGHLIGHTS (MACRO BITS)

Asia

- South Korea To Ease Mortgage Lending Rule To SpurConsumption

Americas

- US Treasury 5-Year Yields Fall To Record On Europe Crisis

- Brazil Inflation Unexpectedly Jumps, Ending Downward Trend

Europe

- UK Austerity Could Last Until 2020: Cameron

- UK Public Borrowing Rises In June

Currencies

- U.S. Dollar Up; Euro Set For Third Weekly Decline

Commodities

- Oil FallsAs Europe Debt Woes Revive Economic Fear

- Gold Edges Up On Russian Cenbank Buying, Support Seen

Source: Kenanga