Google Internet business defies econ worries, ad clicks surge

2 Ramadhan 1433

SAN FRANCISCO: Google Inc's core Internet business increased revenue by 21% in the second quarter, easing Wall Street worries that a slumping global economy would take a toll on the company's online advertising.

Shares of the world's No.1 search engine were up about 3% in after hours trade.

Google, which reported its first set of quarterly results since its May acquisition of Motorola Mobility for US$12.5bil (RM37.5bil), offered few details about its plans to expand into the hardware business, focusing instead on what it described as healthy trends in its traditional online advertising business.

More information: techcentral

Citi Says Not Under Probe For Interest Rate Fixing

10 Syaaban 1433

KUALA LUMPUR, June 29, 2012- More global banks are being investigated for alleged financial market manipulation after Barclays was fined US$453 million, but Citibank has clarified that it is not one of them.

 "Citi has confirmed with U.K. government officials that it is not under investigation in the UK for Libor-related issues," Citibank Bhd said in a statement here .

More information : BERNAMA

Telekom Malaysia remains as top pick for CIMB Research

28 Rejab 1433

KUALA LUMPUR: CIMB Research remains Neutral on the mobile telecommunications sector, and said it rmained cautious on DiGi.Com Bhd given that the migrant market contributes to a hefty 20% of its revenue. Maxis has said it will not let up until it captures its fair share of the market.

"Telekom Malaysia is our top pick as it is largely spared from the tussle in the mobile space," said CIMB Research.

More Information : The Star

Google Upbeat on Chrome Web Store

25 Jamadilakhir 1433

KUALA LUMPUR: Google Malaysia is upbeat on a higher rate web browser adoption via localised web store with its newly-launched Chrome Web Store (CWS).

Country manager Sajith Sivanandan said Google Chrome is the number one web browser in Malaysia, thus by rolling out the CWS, it will be vastly more useful to Malaysians.

The new version of Chrome is launched every six weeks, he added.

CWS is an open marketplace that gives users an easy place to browse, discover and purchase the best applications (apps) on the web.

More information : Business Times Malaysia

TM Remains Top Pick

25 Jamadilakhir 1433

TELEKOM Malaysia Bhd (TM) remains an “outperform” with a higher discounted cashflow-based target price as we lower its weighted average cost of capital for its active capital management. It is one of our top picks due to its continued strong growth and positive earnings surprises.
Investors we met with were concerned about competition from 4G or long-term evolution. However, we think that wireless and fibre broadband are complementary as it is less cost-competitive given the scarcity of spectrum.

TM thinks that wireless broadband presents an opportunity to wholesale backhaul to the wireless operators.

TM is also trying to up-sell its services to maximise revenue and we do not expect any major asset disposals. We sense limited scope for special dividends in financial year ending Dec 31 as it sold all its substantial non-core assets and operational gains are unlikely to be very significant.

More information: thestar

KL Hosts Regional Discussion On Takeover Developments

19 Jamadilakhir 1433

KUALA LUMPUR, May 10 , 2012- The Securities Commission Malaysia (SC) and the Securities and Futures Commission Hong Kong are jointly organising a three-day Roundtable of Regional Takeover Regulators of nine jurisdictions here, ending tomorrow.

The roundtable, the first such gathering in the Asia-Pacific region of regional experts in takeover regulation, is a platform for dialogue on current issues and key areas of takeover regulation which will help to foster cooperation and the exchange of information and experience amongst the different jurisdictions.

More information : BERNAMA

KWAP's Fund Size Increases To RM82.61 Billion

19 Jamadilakhir 1433

KUALA LUMPUR, May 10 , 2012- The Retirement Fund Inc's (KWAP) fund size increased by 12 per cent or RM8.85 billion to RM82.61 billion in the first quarter 2012 compared to RM73.76 billion in the same quarter of last year.

Its Chief Executive Officer, Datuk Azian Mohd Noh in announcing the first quarter 2012 unaudited financial results, said the company's gross investment income increased to RM1.20 billion in the first quarter, which is 6.8 per cent higher than the RM1.13 billion over the corresponding period of 2011.

More information: BERNAMA