Asia Top News and Analysis Malaysia

  • DUBAI, Oct 4- HSBC Holdings Plc is to significantly scale back the scope of its global Islamic banking operations, as the business becomes the latest area to be affected by a wider restructuring at the UK- based bank.

  • KUALA LUMPUR, Oct 4- A Malaysian court has postponed to Oct. 10 a hearing on the temporary operating licence granted to Lynas Corp Ltd's controversial rare earth plant, activists said on Thursday. The Kuantan High Court had been expected to rule on whether it will consider judicial reviews seeking to block the plant.

  • SINGAPORE, Oct 3- Danish oil and shipping group A.P. Moller Maersk says it will talk to Vitol to determine whether one of its tankers was used by the trading house to ship Iranian fuel oil. The cargo was transferred aboard the Danish tanker from Vitol's floating storage off Malaysia, the document shows, and shipped to storage in Singapore.

  • MELBOURNE, Oct 4- Australian shares were up 0.2 percent on Thursday as banks rose while miners fell, with sentiment dented by soft retail sales figures for August and declines in oil and copper prices. Top banks continued this week's post rate-cut gains, led by a 1.2 percent rise in Westpac Banking Corp.

  • OCBC Investment Research cut its target price for palm oil company Golden Agri-Resources Ltd to S $0.76 from S $0.81 and kept its' buy' rating, citing a larger-than-expected drop in crude palm oil prices. 10:09 STOCKS NEWS SINGAPORE- Maybank starts Hutchison Port at' buy'.

  • Kenanga has' outperform' calls on Malaysian Pacific Industries Bhd with a target price of 3.10 ringgit per share) and Notion VTec Bhd with a target price of 1.50 ringgit per share. It had' market perform' calls on Unisem Bhd, SAM Engineering& Equipment Bhd, JCY International Bhd and Kelington Group Bhd.

  • RHB Research has downgraded the consumer sector to' neutral' from' overweight', as current premium valuations are deemed hard to sustain. Its coverage on the consumer sector comprises 10 stocks, with QL Resources Bhd and Super Group.

  • DanaInfra Nasional Bhd is finalising plans to issue a 1.5 billion ringgit sukuk tranche by mid-November to finance the Sungai Buloh-Kajang mass rapid transit line, with one portion to be marketed as retail bond as raised in the federal budget for 2013 announced last week.

  • BANGKOK, Oct 4- Following is some company-related and market news that could have an impact on the local market. SE ASIA STOCKS-Most retreat; energy-related shares weak. Thailand's second-biggest liquefied petroleum gas company has bought LPG businesses in Malaysia and Vietnam, it said in a statement.

  • ----PREVIOUS ITEMS: UEM to sell Time by end of 2012- Business Times---- Malaysia to cut palm oil export tax-Business Times----.

  • KUALA LUMPUR, Oct 4- Malaysian construction firm Ahmad Zaki Resources Bhd won a 673 million ringgit contract to build a 50- storey hotel in the country's capital city, according to a filing to the local stock exchange late on Wednesday.

  • Finding Confidence in Malaysia

    Aninda Mitra, Head of Economics, Southeast Asia, ANZ says Malaysia will have to answer some tough questions if the government's economic programs aren't successful. He thinks it will be key to see if the social programs continue.

  • ----PREVIOUS ITEMS: Malaysia to cut palm oil export tax-Business Times----.

  • Keeping Malaysia on the Growth Path

    Najib Razak, the Prime Minister of Malaysia, tells CNBC's Martin Soong how his government plans to keep the country's economic engines going amid the challenging global outlook.

  • MELBOURNE, Oct 4- Australian shares rose 0.2 percent early on Thursday as gains in banks offset weaker miners, with sentiment supported by encouraging jobs growth data in the United States.

  • *Malaysian court to hear application on injunction against Australian miner Lynas. *Plantation Industries and Commodities Minister Bernard Dompok opens Malaysia Timber Council's Global Woodmart 2012 at Kuala Lumpur Convention Centre at 0830 am.

  • KUALA LUMPUR, Oct 4- Pay-TV firm Astro Malaysia Holdings Bhd priced its initial public offering at the top end of an indicative range, a source said, raising $1.5 billion and highlighting Malaysia's emergence as Asia's top IPO destination this year.

  • KUALA LUMPUR, Oct 4- Astro Malaysia Holdings Bhd, the country's largest pay-TV firm, has priced its initial public offering at the top of its indicative range, one source with knowledge of the deal said, to raise about $1.5 billion in Malaysia's third-largest IPO this year.

  • --U.S.-based offshore drilling company Vantage Drilling Co.. Rating Action On Oct. 3, 2012, Standard& Poor's Ratings Services revised its outlook on Houston- based offshore drilling company Vantage Drilling Co. to stable from positive.

  • Oct 03-=============================================================================== Summary analysis-- Telekom Malaysia Bhd.------------------------- 03- Oct-2012=============================================================================== CREDIT RATING: A-/Stable/-- Country: Malaysia Primary SIC: Communications services, nec Mult. The rating on Malaysia- based telecom operator Telekom Malaysia Bhd. (TM) reflects the company's dominant position in the domestic fixed-line, data, and broadband markets, and its stable cash flows.