In the cloud: Microsoft Corp is introducing a complete set of cloud services from data centres in Britain as demand for data localisation spreads across Europe and around the world. — Reuters
MarketWrap: US stocks were little changed on Thursday as investors paused following a two-day rally that pushed the Dow Jones Industrial Average above the 20,000 mark, while the latest wave of earnings rolled in. - Reuters
The DJIA rose 32.40 points, or 0.16%, to close at 20,100.91, the S&P 500 lost 1.69 points, or 0.07%, to 2,296.68 and the Nasdaq dropped 1.16 points, or 0.02%, to 5,655.18.
Energy
Oil prices jumped 2% on Thursday, boosted by the ongoing rally in the US stock market, although gains in crude futures were capped by heavy inventories in spite of efforts by producers to cut output. Brent crude LCOc1 settled up US$1.16, or 2.1%, to US$56.24. - Reuters
Forex summary
*The ringgit lost 0.05% to 4.4320 per US$
*It was 0.52% higher at 4.7329 per euro
*Up 0.51% to 5.5785 per pound sterling
*Up 0.54% to 3.1083 per Singapore dollar
*0.30% higher to 3.3370 per Aussie
*0.26% higher at 3.8580 per 100 yen
Top foreign stories
China turns to blockchain to make markets clearer and cleaner: Chinese banks are hiring blockchain experts as the government pushes use of the technology behind bitcoin to increase transparency and combat fraud in its financial sector. Demand from Chinese banks for experience in blockchain more than doubled last year and will grow further this year, headhunters and blockchain professionals say. - Reuters
Alphabet quarterly profit misses estimates: Google parent Alphabet Inc’s net income rose to US$5.33 billion, below analysts' estimates, from US$4.92 billion, a year earlier, increasing pressure on the company to deliver on new bets in hardware and cloud computing as its advertising business matures. - Reuters
Microsoft profit up as demand for cloud service soars: Microsoft Corp reported a 3.6% rise in fiscal second-quarter profit on Thursday, helped by growth in its fast-growing cloud computing business, but it saw a slight decline in margins in the unit that includes its flagship cloud platform Azure. The company's net income rose to US$5.20 billion in the quarter from US$5.02 billion a year earlier. - Reuters
Johnson & Johnson refills drug cabinet with US$30b Actelion deal: US healthcare giant Johnson & Johnson will buy Swiss biotech company Actelion in a US$30 billion all-cash deal that includes spinning off Actelion's research and development pipeline, the companies said on Thursday. The offer to pay US$280 per share, following weeks of exclusive talks, was unanimously approved by the boards of directors of both companies. - Reuters
Data centre growth drives Intel's fourth-quarter revenue, profit beat: Intel Corp reported better-than-expected quarterly revenue and profit driven by a stabilising PC market and growth in its data centre business, which offers cloud-based software services. - Reuters
Top local stories
MMC ramping up capacity at PTP: MMC Corp Bhd group managing director Datuk Seri Che Khalib Mohamad Noh says MMC is in the midst of a 2 1⁄2-year upgrading programme that would see the port increase its capacity from 10.5 million 20-foot equivalent units (TEUs) to 13.5 million.
The company has set aside RM1bil for the upgrading, a move aimed at meeting the growing demand from shippers and to counter the threat from Singapore’s mega-port in the making at Tuas. - StarBiz
Sime plans to split operations: Sime Darby Bhd is planning to split itself three ways, creating “pure play” listed entities for its plantation and property divisions. Others, including its BMW distributorship, port operations and trading, will remain under the existing listed entity. - StarBiz
SEBB plans rights issue to raise up to RM64m: SC Estate Builder Bhd (SEBB) proposes to shave four sen off its shares’ five sen par value. Following which, its proposes to make a five-for-one rights issue, together with free detachable warrants, to raise up to RM63.95mil for its proposed diversification into construction and for expanding the range and volume of its products. - StarBiz
Borneo Oil signs deals for marble quarry ops: Borneo Oil and Gas Corp Sdn Bhd, a subsidiary of Borneo Oil Bhd, has entered into sublease and marble quarry operation agreements to acquire seven parcels of quarry land in Leah Datu, Sabah. - Bernama
Malaysia looks to Mideast to sustain palm oil exports: Post-Trans-Pacific Partnership Agreement (TPPA) breakdown, Malaysia is pivoting towards the Middle East to sustain its export growth of palm oil. The Cabinet on Wednesday approved the setting up of a regional palm oil office in Tehran, Iran, by mid-2017 to push the commodity into a new untapped market. - StarBiz
IHH Healthcare unit buys land, building in Perak for RM63mil: IHH Healthcare Bhd’s indirect subsidiary, Pantai Medical Centre Sdn Bhd, which is currently leasing a five-storey building from YNH Property Bhd to operate Pantai Hospital Manjung in Perak, is buying the building as well as the 19,986-sq- m land on which it sits for RM63mil. - StarBiz
Proton to announce foreign partner by April or mid-year: Proton Holdings Bhd expects to announce its tie-up with a foreign strategic partner in April or the latest by the middle of this year, said CEO Datuk Ahmad Fuaad Mohd Kenali. While he confirmed that three foreign parties have been shortlisted as potential strategic partner of Proton, he declined to name the prospective parties. - StarBiz
Maybank expects 25% rise in e-Ang Pow transactions: Malayan Banking Bhd
(Maybank) expects at least 25% increase in the number of e-Ang Pow transactions and value to increase to over RM2mil this Chinese New Year. In 2016, the e-Ang Pow recorded 15,000 transactions valued at over RM1.6mil. - StarBiz
Petronas stays focused on Pengerang: Petroliam Nasional Bhd (Petronas) has given assurance that the Pengerang Integrated Complex will continue to be the focus of the state-owned oil major to grow the downstream segment, following reports of Saudi Arabian Oil Co scrapping its investment plans for the project. - Edge FD
MRCB’s MoU with IWH CREC lapses: Malaysian Resources Corp Bhd (MRCB) said its memorandum of understanding (MoU) with Wondrous Vista Development Sdn Bhd and IWH CREC Sdn Bhd to collaborate with each other to develop an integrated transportation terminal in Bandar Malaysia has lapsed. - Edge FD
Multi-Usage board extends suspension of director: Multi-Usage Holdings Bhd board is extending the suspension of its non-independent non-execu- tive director Tan Chew Hua, who initiated a lawsuit to remove the group’s chairman and son from the board, for two months until March 28, with im- mediate effect. - Edge FD
EPF emerges as substantial shareholder in IOI Prop: The Employees Provident Fund (EPF) has increased its stake in IOI Properties Group Bhd (IOI Prop) and emerged as one of the group's substantial shareholders with 5.06%. The EPF bought 2.57 million shares in the company on Monday. - Edge FD
Genting seeks re-approval for Florida casino project: The Genting Group is seeking fresh approval from US authorities to build three towers for a planned casino in Florida after the earlier approval expired, the Miami Herald reported on Thursday. - Edge FD
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