A BMW logo is seen on media day at the Paris auto show, in Paris, France, September 30, 2016. REUTERS/Benoit Tessier
MarketWatch: Wall Street expects consumers to open their wallets a little wider this holiday shopping season but bargains among red-hot retail stocks could be hard to find, especially as profit growth proves elusive for many big names. - Reuters
Energy
Oil prices tumbled on Monday on worries that producer countries may not be agree on a deal to cut output, pressuring US stock futures and Asian shares. Brent crude futures fell 1.9% in early Monday trade to US$46.29 LCOc1 a barrel, after having slipped 3.6% on Friday on rising doubts over whether the Opec will reach an output deal. - Reuters
Top foreign stories
Report: Samsung Elec to consider split: South Korea's Samsung Electronics Co Ltd will consider splitting itself into two as proposed by activist hedge fund Elliott Management, Seoul Economic Daily reported on Monday citing an unnamed source. Samsung's board would hold a meeting on Tuesday and formally respond to Elliott's proposals, the paper said. - Reuters
Credit Suisse banker probed for alleged fiduciary duty violations: Geneva prosecutors have opened legal proceedings against a suspended Credit Suisse banker accused of violating his fiduciary duties in a case brought by wealthy Turkish families who say they lost 300 million Swiss francs (US$296 million), SonntagsZeitung reported. - Reuters
BMW to offer new version of i3 electric car in 2017: German luxury carmaker BMW plans to launch a new version of its i3 electric car next year with a longer range and revamped design, German weekly Welt am Sonntag reported, citing company sources. - Reuters
Johnson & Johnson approaches Actelion about takeover deal: US healthcare company Johnson & Johnson said it was in preliminary talks with Actelion about a potential takeover of Europe's largest biotech firm, currently valued at about US$20 billion. Lung disease specialist Actelion confirmed it had been approached and said there was no certainty a deal would occur. - Reuters
Chinese yuan still a strong currency, should stabilise: central banker: Current conditions point to a stabilisation of China's yuan after a volatile recent performance against the US dollar, a central bank vice-governor said on Sunday, adding that the currency remains strong. - Reuters
Top local stories
Work on Malacca port starts in 2017: Construction of the RM12.5bil Kuala Linggi International Port in Malacca will begin in the first quarter of next year. T.A.G Marine Sdn Bhd, which owns the project, will finance the port with investors from China and hoped it would attract more investors. - StarBiz
Tune Protect hopes to have tie-up in Indonesia soon: After a couple of unsuccessful attempts to form a joint venture in Indonesia, Tune Protect Group Bhd
hopes to tie up with a local insurer there by next year as the company expands in Asean. New group chief executive officer Razman Hafidz Abu Zarim said the company has met several potential partners in Indonesia, to assess their suitability in terms of size, business aspirations and price. - StarBiz
Johari: Speculative activity on ringgit rampant: Malaysia will not impose any pegging or capital control on its currency to encourage investors, corporations and financial institutions to access the onshore market to undertake their forex and hedging activities in Malaysia, said Datuk Johari Abdul Ghani. - Bernama
OSK succeeds in taking private PJ Development: OSK Holdings Bhd’s long drawn-out effort to take private property developer PJ Development Bhd is finally bearing fruit with the latter filing to suspend trading of its shares from Tuesday. - StarBiz
JCorp to venture into digital economy: Johor Corporation (JCorp) is expected to venture into new markets under its Strategic Plan 2017-2022. Mentri Besar Datuk Seri Mohamed Khaled Nordin said JCorp plans to diversify into the digital economy from its current businesses comprising plantations, healthcare, food and restaurant services, and property development. - StarBiz
Khazanah unit i2M eyes RM6.5b in investments in GBS sector: Khazanah Nasional Bhd subsidiary i2M Ventures Sdn Bhd (i2M) is targeting RM6.5bil investment from its Global Business Services (GBS) programme. Managing director Zulfiqar Zainuddin said the programme has managed to attract seven local and multinational companies bringing RM1.2bil in investment. - StarBiz
Tek Seng expects net profit and revenue to improve: Tek Seng Holdings Bhd expects net profit and revenue for the financial year ending Dec 31, 2016, to improve compared with last year. Group managing director Loh Kok Beng said its solar cell business should contribute about 60% to the company’s 2016 revenue. - StarBiz
Bermaz Auto eyes bumper dividend: Investors of Bermaz Auto Bhd can look forward to a special dividend payment as the sole distributor of Mazda vehicles in Malaysia spins off and lists its Philippine unit on the Main Board of the Philippine Stock Exchange in the first half of 2017. The group also pledges to increase its dividend payout ratio to 100% of its net profit from 97.8% in FY16. - Edge FD
Mistry: Malaysia’s palm oil output to turn the corner in December: Malaysia’s palm oil produc- tion is expected to see a feeble recovery in December, the first year- on-year increase after 11 straight months of decline, says leading industry analyst Dorab Mistry. - Edge FD
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