RESULTS NOTE
· SP Setia (TRADING SELL; RM4.38; TP: RM4.25) – 1H09 in-line with our estimates but below markets
NEWS HIGHLIGHTS
· IJM JV gets RM303m job in Abu Dhabi
· Tanjung Offshore secures RM162m finance lease from StanChart
· Kencana unit gets RM35m contract
· Maybank CEO is new MEPS chairman
· CBIP bags RM45m Wilmar job
· WCT keen on RM2b low-cost carrier terminal in Sepang
· RHB Cap to expand retail brokerage biz in Vietnam
· TNB may be spared tariff cut
· Petronas to buy LNG from Australia
· KHSB banks on land sale, halal hub
· May vehicle sales at 43,944 units, up 7% on-month
ECONOMIC NEWS HIGHLIGHTS
· Malaysia's manufacturing sales down 26.2% in April
FOREIGN NEWS HIGHLIGHTS
· Upbeat data and financials buoy Wall Street
· Geithner defends plan to give Fed stepped-up powers
Yen falls as signs global slump easing spurs demand for yield
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