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Asia Top News and Analysis Malaysia

  • MELBOURNE, Oct 10- Australian shares slipped 0.3 percent on Wednesday, pulling back from 14- month highs after the IMF cut its growth forecasts for a second time, sending shares around most of the region lower. climbed 6 percent to $117.20 a tonne, its highest since Aug. 1, according to data provider Steel Index, taking gains to 12.5 percent over the past two days.

  • Kenanga Research downgraded Malaysia's telecommunication sector to' neutral' from' overweight' as it believes the sector's near-term catalysts have been essentially priced in. It downgraded DiGi.COM Bhd, Malaysia's third largest mobile phone operator by market value, to' market perform' from' outperform' and kept the target price of 5.20 ringgit.

  • AmInvestment Bank raised its target price on state power firm Tenaga Nasional Bhd to 8.15 ringgit per share from 7.95 on expectations of stronger earnings for the next two years. AmInvestment kept its' buy' call on Tenaga due to expected lower capacity costs from winning a tender to build a 3 billion ringgit power plant in the northern Malaysian state of Penang.

  • Structural steel construction company Eversendai Corp Bhd. is confident of securing contracts worth 500 mln rgt in Malaysia within the next few months, says executive chairman and group managing director AK Nathan. "We will bring the experience we have gained overseas into the country and perhaps change the contruction approach itself.

  • Following is a list of events in Malaysia as well as news company-related and market news which could have an influence on the local market. *The Look East Policy- A New Dimension Conference at Grand Mahkota Foyer, Lower Ground, Istana Hotel, Jalan Raja Chulan, Kuala Lumpur at 830 am.

  • MELBOURNE, Oct 10- Australian shares fell 0.4 percent on Wednesday, with some of the biggest declines recorded by gold miners after bullion prices headed lower offshore. eased 0.6 percent to 3,882.8 after U.S. stocks fell on increasing worries about third-quarter earnings and the International Monetary Fund warned on global growth.

  • MELBOURNE, Oct 10- Australian shares may ease from 14- month highs on Wednesday after U.S. stocks fell on concerns over third-quarter earnings, although energy companies may be boosted by a sharp rise in oil prices. *Energy companies such as Woodside Petroleum.

  • VIENNA, Oct 9- Austrian rubber and plastic products maker Semperit Holding AG has increased its stake in Malaysian medical glove maker Latexx Partners Bhd.

  • SINGAPORE/ BEIJING, Oct 9- China's Sinopec has started work to build Southeast Asia's largest oil storage terminal at Indonesia's Batam Free Trade Zone, industry sources said on Tuesday. Industry sources said the project was originally planned as a joint-venture between the Chinese refiner and OilTanking, a unit of the privately held Marquard& Bahls.

  • *Fifteen firms, consortium bid for Cyprus offshore blocks. NICOSIA, Oct 9- Cyprus is close to short-listing companies bidding for offshore oil and gas contracts in the energy-rich east Mediterranean, officials said on Tuesday.

  • VIENNA, Oct 9- Austrian rubber and plastic products maker Semperit Holding AG has increased its stake in Malaysian medical glove maker Latexx Partners Bhd.

  • BANGKOK, Oct 9- Stocks in Singapore, Thailand and the Philippines edged lower on Tuesday amid broad-based sell-off in regional large caps such as Metropolitan Bank& Trust Co. and Siam Cement Pcl as concerns about global growth dented investor sentiment. Late selling erased most of morning gains in Malaysia.

  • was awarded on Tuesday a 3 billion ringgit contract by Malaysia's Energy Commission to build, own and operate a power plant in the northern state of Penang.

  • Oct 9- Malaysia's factory output probably fell for the first time in 13 months in August because of weak demand for its top exports of commodities and electronics, analysts polled by Reuters said, warning that the global trade slowdown could get worse.

  • SINGAPORE, October 09 Fitch Ratings has affirmed Telekom Malaysia Berhad's (TM) Long-Term Issuer Default Rating and senior unsecured rating at' A-', respectively. As the country's leading fixed-line and broadband company, TM continues to be strategically important to Malaysia.

  • Faber Group looks the most attractive on valuations among eight stocks in Malaysia's healthcare sector tracked by at least three analysts, data from Thomson Reuters StarMine shows.

  • MELBOURNE, Oct 9- Australian shares climbed 0.5 percent to a fresh 14- month high on Tuesday, with miners boosted by a jump in iron ore prices that helped offset concerns about global economic growth. No. 3 iron ore miner Fortescue Metals Group. rose 3.6 percent and Northern Iron.

  • HONG KONG, Oct 9- Hong Kong- based Ardon Maroon Fund Management, run by former Wall Street bank executives, has launched an Asia- focused hedge fund with seed capital from a European family office, a company document showed, aiming to profit from events such as mergers and restructurings.

  • SYDNEY, Oct 9- Two scions of Malaysia's Genting gaming empire inked a deal on Tuesday to gain control of listed Australian wagering group Two Way Ltd as they seek to build their own casino and leisure business in southeast Asia.

  • KUALA LUMPUR, Oct 9- Following is a table of Kuala Lumpur tin market prices provided by a Malaysian trader. Date KL Premium/ Spot Bid Offer Final Volumes* Oct 9 22,400 15 20 20 690 Oct 8 22,400 26 80 26 365 Oct 5 22,500 110 21 58 385 Oct 4 22,300 70 20 30 540 Oct 3 22,100 106 25 50 200 Oct 2 21,860 53 15 35 385 Oct 1 21,600 41 18 28 175.