The InBev logo is pictured outside brewer Anheuser-Busch InBev's headquarters in Leuven, Belgium, November 10, 2015. - REUTERS
MarketWrap: US stocks rose for a second straight session on Tuesday as investor bet Democratic candidate Hillary Clinton would win the US presidential election. - Reuters
The DJIA ended up 0.4% at 18,332.43 points and the S&P 500 gained 0.38% to 2,139.53 points. The Nasdaq added 0.53% to 5,193.49 points.
Forex summary
*The ringgit gained 0.30% to 4.1892 per US$
*It was 0.49% higher at 4.6247 per euro
*Up 0.57% to 5.1935 per pound sterling
*Up 0.30% to 3.0147 per Singapore dollar
*0.04% higher to 3.2395 per Aussie
*Down 0.13% to 3.9998 per 100 yen
Energy
Oil prices edged higher on Tuesday after trading either side of unchanged all morning, keeping crude in line with a small increase in US stock markets as voters headed to the polls to elect the next president of the United States. Brent futures rose 15 cents, or 0.3%, to US$46.30 a barrel by 1838 GMT. - Reuters
Top foreign stories
Marina Bay land gets record RM7.9bil bid: The first sale of land in Singapore’s Marina Bay in nine years fetched a record S$2.6bil (RM7.9bil). It exceeded the earlier highest price set in 2007 when the Asia Square Tower 1 site was sold for S$1,409 per sq ft, according to CBRE Group Inc. - Bloomberg
Banks warn clients to brace for FX volatility after US vote: Major banks have formally told clients to expect volatile currency markets in the aftermath of Tuesday's US presidential election, with the gap between buying and selling prices that determines the cost of trading expected to widen sharply if Donald Trump were to win. - Reuters
AB InBev attracts at least six bids for Pilsner Urquell, other brands: At least six indicative offers have been submitted by industry players and buyout funds for a group of beer brands being sold by Anheuser-Busch InBev, sources said on Tuesday. First-round bids for the brands, which include Pilsner Urquell in the Czech Republic and Tyskie and Lech in Poland, were due on Monday, according to the sources. - Reuters
Top local stories
EPF eyes more infrastructure assets: The Employees Provident Fund (EPF) is looking at investing directly in infrastructure assets ranging from power plants to ports and highways provided the investment yield is not less than 10% returns. - StarBiz
Ivory Properties in JV project: Ivory Properties Group Bhd has entered into a joint development agreement with Grand Uptown Sdn Bhd for the construction of a sewage treatment plant as part of a contract with the Government. - StarBiz
CAB Cakaran
, partners revise Farm’s Best purchase price: CAB Cakaran Corp Bhd and its partners have agreed to revise the price of the proposed acquisition of Farm’s Best Food Industries Sdn Bhd from RM9.45mil to RM13.38mil. - StarBiz
PetDag profit rises 14%: Petronas Dagangan Bhd’s (PetDag)’s net profit rose 13.65% to RM248.76mil for the third quarter on better performance of its retail segment. Its revenue fell14.88% to RM5.54bil. due to a decrease in the average selling price of 13%, coupled with a lower sales volume of 2%. - StarBiz
HeiTech Padu gets RM48.2mil Fomema job: Heitech Padu Bhd has been awarded a RM48.23mil contract from Fomema Sdn Bhd to integrate the foreign worker medical examination system with the Malaysian Immigration System or myIMMs of the Immigration Department and the Biometric Verification of Foreign Workers. - StarBiz
Hartalega Q2 net profit rises to RM71.22m: Glovemaker Hartalega Holdings Bhd reported a higher net profit of RM71.22mil for the second quarter on the back of continuing expan- sion via its Next Generation Integrated Glove Manufacturing Complex. Its revenue also rose to RM436.98mil compared to RM379.35mil a year ago. - StarBiz
Nationwide Express proposes merger with Airpak: Nationwide Express Courier Services Bhd plans to merge its courier business with Airpak Express (M) Sdn Bhd to capitalise on the rapid growth in demand for e-commerce and online business activities. - StarBiz
China’s CREC may invest more in Titijaya: China Railway Engineering Corp (M) Sdn Bhd (CREC) does not discount the possibility of having a bigger stake in developer Titijaya Land Bhd, For now, CREC, through a unit, has partnered Titijaya for a mixed development in Embassy Row, Jalan Ampang. The project has a gross development value of RM2.1bil. - StarBiz
Vincent Tan sells off entire 10.5% stake in The Store: Tan Sri Vincent Tan Chee Yioun last Tues- day disposed of his entire 10.5% stake in The Store Corp Bhd, one of the largest and oldest existing supermarket and departmental chains in the country. - Edge FD
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