20130118 0938 Malaysia Corporate Related News.

Malaysian Institute of Economic Research's (Mier)  business conditions index decreased to a three-year low of 94.1 pts in 4Q12 from 96 pts in 3Q12. This indicates that businessmen view that activities are contracting and they do not see a bright picture in 1Q13, said Mier ED Dr. Zakariah Abdul Rahid. The declining business confidence trend among manufacturers could deteriorate further, due to the weak demand from local and overseas markets as a result of dampened domestic manufacturing activities. On the other hand, the  consumer sentiment index increased to 118.7 pts in 4Q12 from 118.3 pts in 3Q12. The residential property index rose to 124.8 pts in 4Q12 from 113.6 pts in 3Q12. The  tourism market index was largely unchanged at 129.8 pts compared with 129.9 pts in 3Q12. The  retail trade index and the  automotive industry index, however, faltered significantly to 105.4 pts and 94.8 pts respectively (vs. 160 pts and 130.2 pts respectively in 3Q12). (Financial Daily)

The Malaysian economy is expected to grow 5.6% this year (5.1% in 2011) driven primarily by domestic economy, while inflation is expected to rise to 2.5% (1.7% in 2011) due to increased inflow of capital into the manufacturing sector, said the  Malaysian Institute of Economic Research. It also projected the GDP growth for 2014 to be within 5% and 6% and inflation to stay at 2.5%. (Bernama)

US jobless claims plunged 37,000 to 335,000 in the 12 Jan week (a revised 372,000 in the earlier week), massively below consensus of 368,000. (Bloomberg)

US housing starts  rebounded by a sharp 12.1% mom in Dec to a seasonally adjusted annualized rate of 954,000 units (a revised 851,000 in Nov) from a 4.3% dip the month before. Economists were expecting a reading of 887,000. (Bloomberg)

Eurozone construction output fell 0.4% mom in Nov (no change in Oct), whilst on a yoy basis, the measure fell 4.7% (-3.3% in Oct). (RTTNews)

China will sharply increase planned railway investment in 2013 to more than US$100bn (Rmb650bn), as part of plans to boost the economy. That marks a 30% increase from the planned investment of Rmb500bn for 2012. (AFP)

Japan’s tertiary industry index fell 0.3% mom in Nov (-0.1% in Oct), underperforming the consensus estimate of +0.1%. (Bloomberg)

Payrolls in Australia advanced 148,300 in 2012 after a 49,800 gain in 2011 for a two-year increase that was the weakest since 1996-1997. Unemployment rose to 5.4% last month (5.3% in Nov) as the number of workers fell by 5,500, against expectations of a 5,000 job gain. (WSJ)

State-run Indian oil marketing companies can now raise diesel prices in line with increases in global crude oil prices, a move that could help the government reduce its vast subsidy bill. (Reuters)

Singapore’s non-oil exports fell 16.3% yoy in Dec (-2.6% in Nov), worse than the median 8% on-year contraction forecast in a poll.  Electronics shipments were especially weak, down 19.1% yoy, following a 16.5% drop in Nov. But  non-electronics exports also sank 14.8% yoy, compared with a 6.1% rise last month. (WSJ)

The Philippines’ money supply (M3) growth rose to 9.8% yoy in Nov (8.6% in Oct).  Credit growth however slowed to 13.3% yoy (14.2% in Oct). (Bloomberg)

The  Bangko Sentral ng Pilipinas reported  that the  gross inflow of foreign portfolio investments reached US$18.46bn last year, the highest in a decade. The amount was also up by 12% from US$16.47bn in 2011. The outflows reached US$14.57bn, up by 17.5% from US$12.4bn the previous year. Thus, the  net inflow of foreign hot money reached US$3.88bn, which was down by about 5% yoy from US$4.1bn. (Philippine Daily Inquirer)