Kenanga Today - 18 September 2012

NEWS HIGHLIGHTS

- MAS union heads seek re-election

- It's business as usual for UMLand despite buyout

- Parkson ventures into Myanmar

- RM3.46b MRT contracts awarded

- Grand Banks to raise S$5.24m via share placement

- MBF may pay more special dividends in next two years

- RAM to closely monitor Pacific & Orient

FOREIGN NEWS HIGHLIGHTS

- Apple IPhone 5 pre-orders top 2.0m, doubling record

- AMD loses respected CFO, shares plunge

- Japan Airlines set to return to Tokyo exchange

ECONOMIC NEWSHIGHLIGHTS (MACRO BITS)

Malaysia

- Slowdown In Car Sales

Asia

- Japan Unveils Plan To Phase Out Nuclear Power

- Korea Department Store Sales Fall Most Since AtLeast ’05

- South Korea Think Tank Cuts Growth Forecasts

- Singapore Exports Drop More Than Estimated OnElectronics

- India Cuts Reserve Ratio To Boost Growth WhileHolding Rates

- India Opens Retail To Global Supermarkets

USA

- US Factory Output Falls Sharply

Europe

- European Squabbling On Debt Crisis Tests Rebound

- European Inflation Rises In August

- UK Construction Activity Shrank By 10% In AYear

Currencies

- Dollar Index Up; Yen Weakens Vs. Greenback, Euro

Commodities

- Oil Drops Most In Eight Weeks As Price Falls$3 In Minute

- Gold Down But Outperforms Crude In Commods Sell-Off

Source: Kenanga