20101020 1058 Malaysia Corporate News.

US stocks drop on China, bank worries
US stocks fell sharply Tuesday, sending the Dow to its worst day in two months, as investors became unnerved by a surprise rate hike in China, disappointing earnings, and fresh concerns about the impact bad mortgages could have on banks. The Dow sank 165.07 points, or 1.5%, to 10,978.62, ending below 11,000 for the first time in more than a week. (MarketWatch)
TA Global clinches RM1.8bn property JV in Australia
TA Global Bhd is expanding its presence in Australia via a 50:50 “development sponsorship arrangement” with Charter Hall Group for the RM1.8bn Little Bay residential development project in Sydney. The project, which has approximately 570 dwellings, is expected to be undertaken in stages. (Financial Daily)

AirAsia 3Q passenger traffic grows 26.6%
AirAsia grew passenger traffic by 26.6% for the third quarter of 2010, compared with the same quarter a year ago. Passenger capacity grew by 11.1% as the airline carried 4m passengers, or 12.4% more in the third quarter of 2010, compared with a year ago. (BT)

Association tells glove makers to up prices
The Malaysian Rubber Glove Manufacturers’ Association, whose members collectively supply 60% of the global rubber latex glove consumption, advised its members to raise glove prices in line with high raw material costs and continued weakening of the US dollar. (Financial Daily)

Muhibbah lands RM206m job
Muhibbah Engineering has secured a RM206m contract from Putrajaya Holdings SB to design and build as well carry out external works at the federal administrative centre in Putrajaya. The contract was expected to commence this year and be completed in 2013. (Financial Daily)

Bina Puri accepts RM82m Ipoh project
Bina Puri has signed a letter of acceptance from Superboom (Perak) SB to undertake a project to build 3 blocks of apartments at Ipoh, Perak for The Haven SB for RM82m. the project is targeted for completion n 2013. (Financial Daily)

CIMB Thai 3Q profit dives on higher provisions
 CIMB Thai, a 93.2%-owned unit of CIMB Group, saw its net profit plunge 61% y-o-y to THB179.6m for the third quarter ended 30 Sept, 2010. The sharp drop was partly due to the 23% rise in provision for non-performing loans from THB138m to THB171m. (Financial Daily)

Higher expenses hit Bursa Malaysia 3Q earnings
Bursa Malaysia’s 3QFY10 net profit fell by 10% from a year ago to RM27.7m as higher expenses took the shine off its improved trading revenue. This was on the back of a slight increase in revenue to RM86.8m from RM86.3m. (BT)