MarketWatch: The most interesting bit of US economic data this week is Monday's auto sales release, which will offer a measure of the middle-class consumer and a sector of the stock market that has had a rough ride so far in 2017. Economists are looking for another solid month of sales north of 17 million new vehicles at a seasonally adjusted annualised rate for March. - Reuters
Top foreign stories
China says US trade orders should respect international rules: China called on the United States to respect international trade rules and improve cooperation and dialogue in reaction to two new orders by US President Donald Trump calling for an investigation into trade abuses. - Reuters
San Miguel plans US$34b investments, targets Saigon Beer stake: San Miguel Corp plans to invest US$34bil in an oil refinery, an integrated steel complex and an ocean-tide power plant as the Philippines’ largest company by sales expands amid forecasts for robust economic growth in the country. The company is also “evaluating and may bid” for Saigon Beer Alcohol Beverage Corp, president Ramon Ang said. - Bloomberg
Cathay Pacific targets HK$4b in cuts over three years: Cathay Pacific Airways is seeking HK$4 billion (US$514 million) in savings over the next three years, with HK$2 billion targeted for this year, a major shareholder has disclosed. - South China Morning Post
Top local stories
No more land sale in TRX: TRX City Sdn Bhd will hold off further sale of land within the Tun Razak Exchange (TRX) for the next two to three year. The rationale is to allow fast and easy access to facilitate infrastructure construction within the development and to unlock the value of the real estate at a higher premium later. - StarBiz
CIMB eyes bigger market share in consumer banking: CIMB Bank Bhd CEO for group consumer banking Samir Gupta says the bank aimed to improve its market share and overall consumer banking business by focusing on key areas like digital, analytics, partnerships. - StarBiz
Sedania ventures into fintech: Sedania Innovator Bhd has taken a leap into financial technology following its recent proposed acquisition of Sedania As Salam Capital as the company aims to tap potential growth in Islamic banking. Sedania As Salam Capital’s As-Sidq system is currently used by 21 financial services companies in the country. - StarBiz
Value of construction tenders falls short: The value of construction jobs tendered out in the country in 2016 failed to reach the targeted RM200bil, hitting only RM124.9bil. Penang Master Builders and Building Materials Dealers’ Association immediate past president Datuk Lim Kai Seng said the target was not achieved because about RM55bil worth infrastructure projects in the East Coast had yet to be finalised and awarded.
Tier-one aerospace firm to invest in Malaysia: A tier-one aerospace manufacturer is negotiating to set up operations in the country, the first to invest in Malaysia coming to invest in Malaysia a hiatus of 10 years, An International Trade and Industry Ministry (Miti) source said. The talks are expected to be concluded by year’s end. - StarBiz
Globetronics plans record investment of RM85m: Globetronics Technology Bhd
plans a record investment of about RM85mil this year for the mass production of new smart sensors. It has invested RM65mil since January for the production of two new sensors for smart telecommunication devices. It plans pump in a further RM15mil to RM20mil to mass produce two new sensors for smart healthcare wearable device and automotive lighting. - StarBiz
PIE Industrial back on growth path: An original design manufacturing project and increasing orders in the electronic manufacturing services segment are expected to lift PIE Industrial Bhd’s earnings by more than 15% in the current financial year. - Edge FD
Kronologi: Indian unit performance to surpass profit guarantee: Cloud storage security service provider Kronologi Asia Bhd is confident its newly ac- quired Quantum Storage (India) Pte Ltd will be able to report annual earnings above the promised US$1 million (RM4.42 million). - Edge FD
Boon Koon plans new launches on steady demand: Boon Koon Bhd is exploring opportunities of expanding its business portfolio to include a special repayment scheme. It will use the anticipated RM16.1 million gain from sale of stake in Hitachi Capital Malaysia Sdn Bhd for the purpose. - Edge FD
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