The Star Online: Business
The Star Online: Business |
- KLCI posts mild rebound, blue chips lift
- Diary Malaysia May 22 Thursday
- Myanmar oil demand up, Petronas among suppliers
| KLCI posts mild rebound, blue chips lift Posted: 21 May 2014 06:43 PM PDT KUALA LUMPUR: The FBM KLCI posted a mild rebound in early trade on Thursday on firmer close on Wall Street, as Petronas-linked stocks and financials lifted the index. At 9.30am, the KLCI was up 3.82 points to 1,880.85. Turnover was 273.21 million shares valued at RM163.91mil. There were 270 gainers, 142 decliners and 206 counters unchanged. Reuters reported US stocks rose on Wednesday, rebounding from the previous day's broad selloff, after minutes of the Federal Reserve's last meeting showed central bankers have discussed the eventual tightening of monetary policy but made no decisions on which tools to use. It said that the Dow Jones industrial average rose 1%, its biggest daily percentage jump since mid-April. Goldman Sachs was the top gainer on the blue chip index, up 1.9% at US$159.35. At Bursa Malaysia, PetGas rose 38 sen to RM24.56 and PetDag 18 sen to RM23.88. Banks rose with PBBank up 22 sen to RM19.98 and HLFG 20 sen to RM15.90. Decliners were KL Kepong, down 34 sen to RM24.36 and MAHB five sen to RM7.51. Pintaras fell 15 sen to RM3.92 and GAB 14 sen to RM13.42. |
| Diary Malaysia May 22 Thursday Posted: 21 May 2014 05:36 PM PDT KUALA LUMPUR: ALL TIMES ARE PROVISIONAL AND IN LOCAL TIME FOLLOWED BY GMT IN BRACKETS THURSDAY, MAY 22 KUALA LUMPUR - Release of Bank Negara's International Bank Reserves as at 15 May 2014 at 1700 pm (0900 GMT). KUALA LUMPUR - Alliance Bank briefing on Foreign Currency Accounts, Room 410, Level 4, Kuala Lumpur Convention Centre, Jalan Ampang at 9 am (0100 GMT). KUALA LUMPUR - Minister of Science, Technology and Innovation Ewon Ebin to deliver special address at 20th Asean International Machine Tools and Metalworking Technology Exhibition, Level 2, Pelantaran, PWTC at 10.30 am (0230 GMT). KUALA LUMPUR - AmInvest briefing on Global Property Market Outlook, Sri Bendahara 2, First Floor, The Royale Chulan, 5, Jalan Conlay, Kuala Lumpur at 12 pm (0400 GMT). KUALA LUMPUR - Energy, Green Technology and Water Minister Maximus Ongkili visits Pahang-Selangor Raw Water Transfer Project at project site, Karak at 8.20 am (0020 GMT). KUALA LUMPUR - Wanita Umno chief Shahrizat Abdul Jalil attends workshop on foreign maids at Redang Room, Level 3, Putra World Trade Centre (PWTC at 8.30 am (0030 GMT). KUALA LUMPUR - Press conference by Pemuda Umno Education Bureau on the closing of Sekolah Bina Insan Kajang at Umno Ampang Division building, No. 100 Jalan Lembah Jaya, Ampang at 10 am (0200 GMT). KUALA LUMPUR - Federal Territories Minister Tengku Adnan Tengku Mansor attends media briefing on River of Life project at Level 29, Menara DBKL 1, DBKL at 11 am (0300 GMT). KUALA LUMPUR - Public Lecture by Imam Feisal Abdul Rauf on 'Constructing an Islamic Government and Rule of Law Index' at International Institute of Advanced Islamic Studies (IAIS) at 2 pm (0600 GMT). KUALA LUMPUR - Minister in the Prime Minister's Department Joseph Kurup attends a roundtable disccussion on proposed Kelantan hudud bill at 15th Floor, Menara Manulife, 6 Jalan Gelanggang, Damansara Heights at 3 pm (0700 GMT). KUALA LUMPUR - Tourism and Culture Minister Mohamed Nazri Aziz launches a new album by Dennis Lau - A Malaysia Journey - at Saloma Bistro Hall, Saloma Bistro, Jalan Ampang at 3.30 pm (0730 GMT). KUALA LUMPUR - Communications and Multimedia Ministry Secretary-General Abd Rahim Mohd Radzi attends dinner for participants of Malaysia-Indonesia Journalists Exchange Visit programme at Istana Hotel at 8 pm (1200 GMT). KUALA LUMPUR - Deputy Prime Minister Muhyiddin Yassin attends reception marking 40th anniversary of the establishment of China - Malaysia relations at Grand Ballroom, Shangri-la Hotel at 8 pm (1200 GMT). FRIDAY, MAY 30 KUALA LUMPUR- Release of Money Supply Data May 2014 at 1700pm(0900 GMT) FRIDAY, MAY 30 KUALA LUMPUR- Release of Detailed Disclosure of International Reserves as at end April 2014 at 1200pm (0400 GMT) FRIDAY, JUN 06 KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 30 May 2014 at 1700pm(0900 GMT) FRIDAY, JUN 06 KUALA LUMPUR - Release of External Trade Data as at Apr 2014 at 1201pm (0401 GMT) SATURDAY, JUN 07 KUALA LUMPUR- Market and Public Holiday- His Majesty's Birthday WEDNESDAY, JUN 11 KUALA LUMPUR- Release of Index of Industrial Production Data as of Apr 2014 at 1201pm (0401). WEDNESDAY, JUN 18 KUALA LUMPUR- Release of CPI Data as of May 2014 at 1700pm(0900 GMT) FRIDAY, JUN 20 KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 13 Jun 2014 at 1700pm(0900 GMT) MONDAY, JUN 30 KUALA LUMPUR- Release of Money Supply Data June 2014 at 1700pm(0900 GMT) MONDAY, JUN 30 KUALA LUMPUR- Release of Detailed Disclosure of International Reserves as at end May 2014 at 1200pm (0400 GMT) FRIDAY, JUL 04 KUALA LUMPUR- Release of External Trade Data as at May 2014 at 1201pm (0401 GMT) MONDAY, JUL 7, KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 30 Jun 2014 at 1700pm(0900 GMT) THURSDAY, JUL 10 KUALA LUMPUR- Release of Index of Industrial Production Data as of May 2014 at 1201pm (0401). THRUSDAY, JUL 10 KUALA LUMPUR- Release of Interest Rates Decision(Overnight Policy Rates) at 18:00pm(1000 GMT) TUESDAY, JUL 15, KUALA LUMPUR- Market and Public Holiday- Nuzul Al-Quran WEDNESDAY, JUL 16 KUALA LUMPUR- Release of CPI Data as of Jun 2014 at 1700pm(0900 GMT) TUESDAY, JUL 22, KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 15 Jul 2014 at 1700pm(0900 GMT) MONDAY, JUL 28, KUALA LUMPUR- Market and Public Holiday-Aidil Fitri TUESDAY, JUL 29, KUALA LUMPUR- Market and Public Holiday-Aidil Fitri THURSDAY, JUL 31, KUALA LUMPUR- Release of Money Supply Data July 2014 at 1700pm(0900 GMT) THURSDAY, JUL 31, KUALA LUMPUR- Release of Detailed Disclosure of International Reserves as at end June 2014 1200pm (0400 GMT) WEDNESDAY, AUG 06 KUALA LUMPUR- Release of External Trade Data as at Jun 2014 at 1201pm (0401 GMT) THURSDAY, AUG 7' KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 31 Jul 2014 at 1700pm(0900 GMT) MONDAY, AUG 11 KUALA LUMPUR- Release of Index of Industrial Production Data as of Jun 2014 at 1201pm (0401). WEDNESDAY, AUG 20 KUALA LUMPUR- Release of CPI Data as of Jul 2014 at 1700pm(0900 GMT) FRIDAY, AUG 22, KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 15 Aug 2014 at 1700pm(0900 GMT) FRIDAY, AUG 29, KUALA LUMPUR- Release of Detailed Disclosure of International Reserves as at end July 2014 at 1200pm (0400 GMT) FRIDAY, AUG 29, KUALA LUMPUR- Release of 2nd Quarter 2014 GDP (Not Later Than) at 1800pm (1000 GMT) FRIDAY, AUG 29, KUALA LUMPUR- Release of Money Supply Data August 2014 at 1700pm(0900 GMT) SUNDAY, AUG 31, KUALA LUMPUR- Market and Public Holiday- National Day FRIDAY, SEP 5 KUALA LUMPUR- Release of External Trade Data as at Jul 2014 at 1201pm (0401 GMT) MONDAY, SEP 8, KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 29 Aug 2014 at 1700pm(0900 GMT) THURSDAY, SEP 11 KUALA LUMPUR- Release of Index of Industrial Production Data as of Jul 2014 at 1201pm (0401). TUESDAY, SEP 16, KUALA LUMPUR- Market and Public Holiday- Malaysia Day WEDNESDAY, SEP 17 KUALA LUMPUR- Release of CPI Data as of Aug 2014 at 1700pm(0900 GMT) THURSDAY, SEP 18 KUALA LUMPUR- Release of Interest Rates Decision(Overnight Policy Rates) at 18:00pm(1000 GMT) TUESDAY, SEP 23, KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 15 Sep 2014 at 1700pm(0900 GMT) TUESDAY, SEP 30, KUALA LUMPUR- Release of Money Supply Data September 2014 at 1700pm(0900 GMT) TUESDAY, SEP 30, KUALA LUMPUR- Release of Detailed Disclosure of International Reserves as at end August 2014 at 1200pm (0400 GMT) TUESDAY, OCT 07 KUALA LUMPUR- Release of External Trade Data as at Aug 2014 at 1201pm (0401 GMT) WEDNESDAY, OCT 8, KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 30 Sep 2014 at 1700pm(0900 GMT) FRIDAY, OCT 10 KUALA LUMPUR- Release of Index of Industrial Production Data as of Aug 2014 at 1201pm (0401). WEDNESDAY, OCT 22, KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 15 Oct 2014 at 1700pm(0900 GMT) WEDNESDAY, OCT 22, KUALA LUMPUR- Release of CPI Data as of Sept 2014 at 1700pm(0900 GMT) THURSDAY, OCT 23, KUALA LUMPUR- Market and Public Holiday- Deepavali SATURDAY, OCT 25, KUALA LUMPUR- Market and Public Holiday- Islamic New Year 1436H FRIDAY, OCT 31, KUALA LUMPUR- Release of Detailed Disclosure of International Reserves as at end September 2014 at 1200pm (0400 GMT) FRIDAY, OCT 31, KUALA LUMPUR- Release of Money Supply Data October 2014 at 1700pm(0900 GMT) THURSDAY, NOV 6, KUALA LUMPUR- Release of Interest Rates Decision(Overnight Policy Rates) at 18:00pm(1000 GMT) FRIDAY, NOV 7, KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 31 Oct 2014 at 1700pm(0900 GMT) FRIDAY, NOV 7, KUALA LUMPUR- Release of External Trade Data as at Sept 2014 at 1201pm (0401 GMT) TUESDAY, NOV 11, KUALA LUMPUR- Release of Index of Industrial Production Data as of Sept 2014 at 1201pm (0401). WEDNESDAY, NOV 19, KUALA LUMPUR- Release of CPI Data as of Oct 2014 at 1700pm(0900 GMT) FRIDAY, NOV 21, KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 14 Nov 2014 at 1700pm(0900 GMT) FRIDAY, NOV 28, KUALA LUMPUR- Release of 3rd Quarter 2014 GDP (Not Later Than) at 1800pm (1000 GMT) FRIDAY, NOV 28, KUALA LUMPUR- Release of Detailed Disclosure of International Reserves as at end October 2014 at 1200pm (0400 GMT) FRIDAY, NOV 28, KUALA LUMPUR- Release of Money Supply Data November 2014 at 1700pm(0900 GMT) FRIDAY, DEC 5, KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 28 Nov 2014 at 1700pm(0900 GMT) FRIDAY, DEC 5, KUALA LUMPUR- Release of External Trade Data as at Oct 2014 at 1201pm (0401 GMT) THURSDAY, DEC 11 KUALA LUMPUR- Release of Index of Industrial Production Data as of Sept 2014 at 1201pm (0401). WEDNESDAY, DEC 17 KUALA LUMPUR- Release of CPI Data as of Nov 2014 at 1700pm(0900 GMT) MONDAY, DEC 22, KUALA LUMPUR- Release of Bank Negara's International Bank Reserves as at 15 Dec 2014 at 1700pm(0900 GMT) THURSDAY, DEC 25, KUALA LUMPUR- Market and Public Holiday- Christmas Day WEDNESDAY, DEC 31, KUALA LUMPUR- Release of Money Supply Data December 2014 at 1700pm(0900 GMT) WEDNESDAY, DEC 31, KUALA LUMPUR- Release of Detailed Disclosure of International Reserves as at end November 2014 at 1200pm (0400 GMT) NOTE: The inclusion of diary items does not necessarily mean that Reuters will file a story based on the event.- Reuters |
| Myanmar oil demand up, Petronas among suppliers Posted: 21 May 2014 05:30 PM PDT SINGAPORE/YANGON: Myanmar businessman Lay has doubled the number of cars he owns to six in just three years, as reforms in Southeast Asia's poorest country unleash a wave of consumer spending. The opening up of the economy, with a loosening of military rule ending decades of isolation, has meant a surge in ownership of second-hand Japanese cars that are replacing rusting, reconditioned British-era vehicles and boosting demand and imports of fuel. Oil demand may have soared by as much as a quarter in the last financial year to March, giving oil traders a new market at a time when Asia is awash with fuel supplies due to a jump in refining capacity and cooling demand in top buyers China and India. Two of Myanmar's three small refineries barely function, meaning the country relies on imports. Myanmar has attracted a host of new suppliers from small, obscure oil traders to global trading giants such as Trafigura and Vitol, which are nipping at the heels of leading suppliers Chinaoil, PetroChina's trading arm, and Singapore's Hin Leong. Fuel demand is also being boosted by more factories and as a mining boom lifts demand for diesel for machines and trucks. The Southeast Asian nation remains, however, a tough market to crack given obstacles ranging from poor infrastructure to buyers being particular about the color of fuel they receive, traders say. Fuel is often sold in glass bottles next to the road and may be rejected by drivers unless it is clear, irrespective of performance. To cater for higher demand, companies are planning to build new oil storage facilities and invest in petrol stations. Under military rule, businessman Lay had to wait for hours at government-owned fuel stations to fill up, but now the queues are in the choking traffic snarling Yangon's pot-holed streets. "Oil used to be rationed so we only have a limited amount allocated to us, but now it is easily available," said Lay, who did not want to use his full name. Fuel demand rose more than 5 percent to about 40,700 barrels per day in the fiscal year to March, data from Myanmar's energy ministry showed. But traders say undocumented fuel flows, particularly oil smuggled from nearby Thailand, may have made the rise more like 20-25 percent. Between 10 and 15 trucks, or about 6,000 tones (44,700 barrels), of diesel come from Thailand each month, a trader said. The energy ministry declined to comment on smuggled oil. RECONDITIONED CARS Like businessman Lay, many of his compatriots are also replacing decades-old cars that have limped along after being reconditioned numerous times with imported cars and jeeps, mostly from Japan under a trade deal between the two countries. Passenger car imports jumped by a quarter to 331,468 in fiscal 2012/2013 (April-March), while the number of imported trucks rose 10 percent to 74,546, government data shows. Oil imports into Myanmar jumped after local private firms were allowed in after Cyclone Nargis disrupted supplies in 2008, but tough requirements from importers and bad infrastructure have helped Chinaoil and Hin Leong, which have more than half the market between them, entrench their leading position. Other sellers include PTT <PTT.BK>, Thai Oil <TOP.BK> and Malaysia's Petronas <PETR.UL>, as well as Korea's Daewoo International <047050.KS>, Swiss Singapore, Trafigura and Vitol <VITOLV.UL>. CAUTION AGAINST RUSHING IN Yet, despite the recent surge in oil imports, some caution against rushing into a market which remains small. "Even by 2020-2030, it's still going to be a very small market in the big scheme of things," said Alex Yap, analyst at consultancy FGE, contrasting it with Southeast Asia's top fuel consumer Indonesia, which imported 325,000 bpd of gasoline and 115,000 bpd of diesel last year. Hin Leong is the largest supplier to private local importers as it can deploy its own tankers operated by shipping arm Ocean Tankers, traders said. Only smaller tankers, carrying about 6,000-10,000 tones of oil, can enter the shallow Yangon River estuary to reach Yangon and Thilawa ports designated to receive oil. There are currently no oil pipelines in Myanmar. Beyond infrastructure headaches, suppliers can also be penalized with a 5 percent price cut from buyers if they deliver a day late, traders say. That's enough to wipe out a margin of 1-2 percent they might hope to make from a sale. "Not every company can deal with Myanmar," a Singapore-based trader said. "They can go into Myanmar feeling very gung ho, but when they get there it's a logistical nightmare."- Reuters |
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