Big bids: Toshiba Corp has received bids – as much as 400 billion yen (RM15.81bil) – for a 19.9% stake in its flash memory business. — Reuters
MarketWatch: Buoyant oil prices since Donald Trump's election have provided no lasting halo effect for energy stocks as the sector's profit rebound has lacked vigour, but that could change in the week ahead with a fresh crop of quarterly scorecards. - Reuters
Top foreign stories
Asia remains vibrant: Moody’s Investors Service says Asia will remain among the fastest-growing region in 2017, but it faces several challenges that could weigh on credit conditions for Asian debt issuers. - StarBiz
Drugmaker Stada confirms takeover bid from two companies: German generic drugmaker Stada said it has received two offers for the acquisition of the company, one of which is private equity group Cinven Partners LLP. Cinven is offering a price of 56 euros per Stada share. The company did not name of the other bidder. - Reuters
KKR succeeds with Gfk stake purchase: Private equity firm KKR has acquired a 18.54% stake in German market researcher GfK, GfK said, allowing it to drive strategic change with top shareholder GfK Verein. - Reuters
Japan fourth-quarter GDP grows for fourth straight quarter on exports: Japan's economy expanded for a fourth straight quarter in the October-December period as strong trade demand and a pickup in capital expenditure underscored a steady export-led recovery. Data on Monday showed the world's third-largest economy grew an annualised 1% in the final three months of 2016, roughly in line with the 1.1% increase markets had expected. - Reuters
Toshiba prepares to unveil nuclear hole: Toshiba Corp will on Tuesday detail a writedown of close to US$6 billion after bruising cost overruns at its US nuclear arm, turning investor attention to the Japanese group's efforts to fix that and other balance sheet headaches. - Reuters
Top local stories
MyEG diversifies portfolio: My EG Services Bhd managing director Wong Thean Soon says the company intends to increase the percentage of its commercial business, debunking claims that the bulk of its business activities were dependent on the Government. MyEG feels it is ready to expand its operations beyond Malaysia.- StarBiz
Sarawak Cable plans to pare down borowings: Sarawak Cable Bhd is in talks with two parties on the potential sale of its wholly-owned unit , Aerial Power Lines Sdn Bhd latter. The sales of APL, a non-core asset of SCB, is part of plans to reduce the group’s borrowings and gearing level. - StarBiz
Household debt may increase, warn economists: Economists and analysts say although the household debt-to-gross domestic product ratio may see improvement in 2016 when the official figure is out next month, its sustainability for further improvement over the next few years could be tough. They say home buyers scheme like the 1Malaysia People’s Housing Programme, higher loan limits for civil servants under Budget 2017 and higher inflation could raise household debt. - StarBiz
Naza Kia targets 500 vehicle sales per month: Naza Kia Malaysia Sdn Bhd, the official distributor of Kia Motor vehicles in Malaysia, targets to sell 500 units of all its brands monthly in 2017. The group is optimistic of meeting the target with the launch of three new models soon. - Bernama
Nylex expects another year of double-digit profit growth: Nylex (M) Bhd
is confident of achieving a strong double-digit profit growth for the second straight year amid the current economic uncertainty and volatile crude oil prices. The group reported a 51.02% increase in net profit to RM11.15 million for the year ended May 31, 2016. - Edge FD
MAHB bets on big data to improve services: Malaysia Airports Holdings Bhd (MAHB) is investing in big data analytics to improve its services and ultimately drive non-aeronautical income growth, amid wider plans to nearly double earnings by 2020. The airport operator is currently shortlisting proposals for big data analytics. - Edge FD
BBCC unfazed by o ce supply glut in Klang Valley: The developer of Bukit Bintang City Centre (BBCC) is unfazed by the office supply glut that is haunting the Klang Valley property market now, saying the RM8.7 billion integrated development is still getting a substantial amount of interest from potential investors or owners. - Edge FD
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