Prime Minister Najib Razak will open Invest Malaysia, the country’s annual investment showcase in Kuala Lumpur. More than 850 delegates representing 200 corporations are expected at the event.
He will promise “swift, effective” action to maintain momentum with the government’s economic transformation initiatives, according to an advance extract of his speech.
INVEST MALAYSIA: * Prime Minister Najib at 9:15 a.m. * Pemandu CEO Idris Jala at 10:20 a.m. * Securities Commission Chairperson Zarinah Anwar at 11:15 a.m. * Malaysian Industrial Development Authority briefing at 11:30 a.m. * YTL Corp. briefing at 1:45 p.m. * International Trade & Industry Minister Mustapa Mohamed at 2 p.m. * Iskandar Regional Development Authority briefing at 2:30 p.m. * Schlumberger Asia Chairman Ainul Azhar Ainul Jamal at 3 p.m. * AMMB Holdings Bhd. briefing at 3:30 p.m. * Maybank Investment Bank Bhd. briefing at 4:15 p.m. * Mah Sing Group Bhd. briefing at 5 p.m.
WHAT ELSE TO WATCH: * MAA Holdings Bhd. (MAA MK) applied for central bank approval to enter into an agreement to sell its Malaysian Assurance Alliance Bhd. unit and four other subsidiaries to Zurich Insurance Co. * Coastal Contracts Bhd. (COCO MK), a shipbuilder, said it won sales orders valued at 61 million ringgit ($20.2 million). * Harbour-Link Group Bhd. (HALG MK), an engineering group won, a 75.2 million-ringgit contract to supply cranes to Bintulu Port Sdn. * Mitrajaya Holdings Bhd. (MHB MK) won a 25.6 million-ringgit contract to build houses for Putrajaya Holdings Sdn.
MARKETS: * Malaysia’s FTSE Bursa Malaysia KLCI Index fell 0.9 percent. * The MSCI Asia Pacific Index dropped 0.01 percent. * The Dow Jones Industrial Average gained 0.01 percent. * Palm oil June-delivery futures advanced 0.5 percent to 3,417 ringgit a metric ton.
BTV (KL times): *7:10 a.m.: Northern Trust Chief Investment Strategist Jim McDonald *7:40 a.m.: Maybank Investment Bank CEO Tengku Zafrul Tengku Abdul Aziz, *8:10 a.m.: ANZ Head of Commodity Research Mark Pervan *9:10 a.m.: DWS CIO for Emerging Markets Andreas Roemer *9:30 a.m.: Goldman Sachs Co-Head Korea Research Goohoon Kwon