Malaysia-Market factors to watch Tuesday Dec 27


  • Business
  • Tuesday, 27 Dec 2011

KUALA LUMPUR: Following is a list of events in Malaysia as well as news stories and press reports which may influence financial markets.

WHAT IS HAPPENING IN MALAYSIA, TIMES LOCAL FOLLOWED BY GMT:

> Cargo surveyor Societe Generale de Surveillance issues Dec 1-25 Malaysian palm oil exports after 2.30pm (0630).

> Permodalan Nasional Bhd announces dividend payout for Amanah Saham Nasional Scheme at Menara PNB, Kuala Lumpur at 10.00 am (0200).

> Lion Industries Corp Bhd holds AGM at Office Tower, Jalan Nagasari, Kuala Lumpur at 11.00am (0300).

MARKET SNAPSHOT:

* Malaysia's benchmark stock exchange edged up 0.3 percent on Friday ahead of the long Chirstmas weekend, led by gains in British American Tobacco and oil and gas to auto distributor UMW Holdings.

* The S&P 500 turned positive for the year and closed out its third week of gains in four on Friday as equities extended their rally after a string of unexpectedly strong economic data.

* Wall Street stocks rose on Friday and oil prices edged up as upbeat data reinforced a slightly better outlook for the U.S. economy, curbing a bid for safe-haven U.S. Treasury debt.

# Malaysian crude palm oil futures climbed to a near three-week high on Friday on shortcovering ahead of the weekend that was driven by upbeat U.S. data and prospects of lower output triggered by heavy rain fall in parts of Malaysia.

IN THE NEWS REUTERS MALAYSIA

> Cairn to start Sri Lanka oil exploration 2nd phase

> Malaysia seeks 200,000 T rice from Vietnam-newspaper

> Abraaj made "significant profit" on Acibadem deal - CEO

> Malaysia's Khazanah buys into Turkey's Acibadem

> Inflation and monetary policy in Southeast Asia

> Petronas in talks with oil majors for petchem tie-up

> Indonesia plans coal, base metals export tax in 2012

> Myanmar scraps taxes on overseas labourers

> Singapore's Ascott denies Malaysia REIT listing report

> Australia offers to reopen Sth Pacific asylum centres

* Emerging Asian currencies rose broadly on Friday in thin trading ahead of the year end after encouraging data from the United States sparked buying in risky assets.

* Most Southeast Asian stock markets edged higher on Friday, poised for slight gains on the week amid strength in commodities-related stocks supported by signs of a strengthening U.S. economy.

The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday.

FUNDAMENTALS

* Malaysian crude palm oil futures climbed to a one-month high on Friday on shortcovering ahead of the weekend that was driven by upbeat U.S. data and prospects of lower output triggered by heavy rain fall in parts of Malaysia.

* Wheat reached a fresh five-week high on Friday, while soybeans and corn posted modest gains as the grains extended winning streaks heading into the holiday weekend.

* Oil prices rose for a fifth straight day on Friday, on concerns about potential supply disruptions in Iran and Iraq and recent signs of a strengthening U.S. economy.

MARKET NEWS

* Wall Street stocks rose on Friday and oil prices edged up as upbeat data reinforced a slightly better outlook for the U.S. economy, curbing a bid for safe-haven U.S. Treasury debt.

RELATED NEWS

> Malaysia's Dec 1-25 palm oil exports down 11.6 pct-ITS

> Lack of rain could hurt Argentine soy - exchange

> So. Brazil crops to see rain; drier weather next week

DATA/EVENTS

>Cargo surveyor Societe Generale de Surveillance issues Dec 1-25 Malaysian palm oil exports on Tuesday.

DIARY - Malaysia

ALL TIMES ARE PROVISIONAL AND IN LOCAL TIME FOLLOWED BY GMT IN BRACKETS

TUESDAY, DEC 27

RAWANG, SELANGOR - Seacera Group Bhd holds EGM at Perangsang Templer Golf Club, Templer Park Resort, Rawang at 0900am (0100). * SHAH ALAM - Deputy Prime Minister Muhyiddin Yassin launches Bionexus partnership network at Universiti Teknologi Mara, Puncak Alam campus, Shah Alam at 1000am (0200).

KUALA LUMPUR - LFE Corp Bhd holds AGM at Lot 43117, Off Jalan Balakong, Balakong, Seri Kembangan at 1000am (0200).

KUALA LUMPUR - Lion Industries Corp Bhd holds AGM at Office Tower, Jalan Nagasari, Kuala Lumpur at 1100am (0300).

WEDNESDAY, DEC 28

SUBANG JAYA - Farlim Group (M) Bhd holds EGM at Holiday Villa, Subang Jaya at 1000am (0200).

MALACCA - Huat Lai Resources Bhd holds EGM at PT 1678, Mukim of Serkam, Merlimau, Melaka at 1000am (0200).

KUALA LUMPUR - F5 Networks' media luncheon cum product launch at Urban Spoon Restaurant, Plaza Damas, Jalan Sri Hartamas at 1130am (0330). - Reuters

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