KLSE News Highlights

• This came as Brent futures for January dropped to a new five-year low at $66.62 per barrel on Monday, sparking a sell-off in energy shares, while doubts over global growth outlook added to the pessimism.
• Malaysia's current account surplus will probably narrow as liquefied natural gas prices drop, according to Bank of America Merrill Lynch, adding a new risk to the nation's weakening economic outlook. LNG prices may be down 50 percent by the middle of this year from last June, as they track oil with a lag of four to six months, according to Singapore-based Bank of America economist.
• The resignation of Ashok Ramamurthy as AMMB Holdings Bhd (AmBank Group) managing director could have a certain negative impact on the group, albeit not a significant one, as its largest shareholder Australia & New Zealand Banking Group (ANZ) is expected to implement a smooth succession plan.
• Trading in shares of automotive components manufacturer Autoair Holdings Bhd and plastic products manufacturer IRM Group Bhd will be suspended from Feb 11 after both companies failed to submit their restructuring plans to the regulators.
• The Malaysian Automotive Council (MAC) will be set up in two months' time to set a clear direction for the automotive industry, said International Trade and Industry Minister. The purpose of setting up this council is to provide a platform for policy makers to interact, so can have improvement for the industry and a clear direction.
• Malaysia's has decided to terminate its investigation on imported steel concrete reinforcing bars (rebar) into the country after determining that the imports did not threaten the domestic industry. The Ministry of International Trade and Industry (Miti) said in a statement that the decision was made following the completion of an investigation into a claim that the imports of rebar from China and South Korea had posed serious injury to the domestic industry.
• OCK Group Bhd has incorporated a subsidiary with Myanmar Integrated Networks (MIN) named MIN-OCK Infrastructure Pte Ltd. It intends to further explore opportunities in the provision of tower facilities, utilities, and communication network for mobile and broadband operators.
• Carimin Petroleum Bhd announced that it had received its first contract to provide pure marine services from Petronas Carigali Sdn Bhd (PCSB). It will start immediately and is effective for two years until 2017.