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KL Kepong: Drops plans to issue RM912m bonds. Kuala Lumpur Kepong Berhad (KLK) has dropped plans to issue USD300m (RM912m) bonds based on the company's current financial condition. KLK feels it no longer requires the planned RM912m, five-year unsecured guaranteed exchangeable bonds with an over-allotment option to increase the issue by RM304m. (Source: Bursa Malaysia)

Alam Maritim: Unit bags RM11m deal. Alam Maritim Resources Berhad's unit has accepted an extension of a spot charter contract to supply one straight supply vessel for RM10.9m. The one-year contract will contribute positively to its financial year ending December 31.(Source: Bursa Malaysia)

Hong Leong Bank: Gets nod for RM912m bonds. Hong Leong Bank Berhad has been given approval by the Securities Commission to issue up to USD300m (RM912m) Senior Unsecured Bonds. The proceeds from the bond issuance will be used for working capital and general banking purposes. (Source: Bursa Malaysia)

Ahmad Zaki Resources: Wins RM145m job. Ahmad Zaki Resources Berhad has won a RM145.4m job to complete the remaining works of Lebuhraya Pantai Timur, Phase 2, in Terengganu. The job is expected to contribute positively to AZRB Group's earnings and the net tangible assets for the financial years ending 2011 to 2012 (Source: Bursa Malaysia)

BLand Berhad: To sell BVC India for RM15m. Berjaya Land Berhad is disposing of its 100% stake in Berjaya Vacation Club India Pte Ltd (BVC India) for RM15.1m cash. The proposed disposal would result in an exceptional gain of about RM11.1m for the current financial year ending April 30, Bland said, adding that the cash proceeds of RM15.1m would be used by the group for working capital (Source: Bursa Malaysia)

MAS: Hedge down on unclear economy. Malaysia Airlines drastically reduced its fuel hedging levels this year to 25% from 60% last year due to uncertainty in the economic recovery and higher fuel hedging entry cost. Malaysia Airlines fuel hedge levels are said to be in line with its benchmarked peers, with current hedge levels ranging from 17% to 35%. (Source: The Star)

Outside Malaysia

U.S: 4Q10 household worth rises by USD 2.1tr, Fed says as share prices rose and families rebuilt finances tattered by the recession. Net worth for households and non-profit groups increased at a 16.6% annual pace to USD 56.8tr after rising at a 9.1% rate in the previous three months. American households also cut debt for an 11th consecutive quarter. (Source: Bloomberg)

U.S: Jobless claims rose by 26,000 last week to 397,000, highlighting the uneven nature of the improvement in the U.S. labor market. The total number of people receiving benefits in the prior week fell to the lowest since October 2008. (Source: Bloomberg)

U.S: Trade deficit widened more than forecast in January as a surge in imports led by costlier crude oil overshadowed record exports. The gap in goods and services increased 15% MoM to USD 46.3b, from USD 40.3b in December. Imports jumped 5.2% MoM, the most since March 1993, while exports grew 2.7% MoM. (Source: Bloomberg)

U.K: BOE keeps stimulus as recovery concerns outweigh inflation. The Monetary Policy Committee, led by Governor Mervyn King, set the key rate at 0.5% for a 25th month. They also left their bond program at GBP 200b (USD 324b. (Source: Bloomberg)

U.K: Manufacturing production jumped in January by the most in 10 months, a sign the economy is resuming growth after a winter freeze dented the recovery. Factory output rose 1% MoM from December, when it shrank 0.1% MoM. The index of manufacturing rose to 92.9, the highest since October 2008. (Source: Bloomberg)

Spain: Government bond ratings were downgraded by Moody's Investors Service by one notch to Aa2 from Aa1. The outlook on the Aa2 ratings is negative, Moody's said. The main triggers for the downgrade include Moody's expectation that "the eventual cost of bank restructuring will exceed the government's current assumptions, leading to a further increase in the public debt ratio. (Source: Bloomberg)

China: Reported an unexpected USD7.3b trade deficit, the biggest in seven years, buttressing the government's case against U.S. arguments for faster gains in the Yuan. Exports rose 2.4% YoY in February, the least since 2009 as Lunar New Year holidays disrupted shipments, and imports climbed 19.4% YoY, customs bureau data showed. (Source: Bloomberg)

Japan: Economy contracted more than the government initially estimated in the fourth quarter because of a downward revision to capital investment and consumer spending. GDP shrank at an annualized 1.3% rate in the three months ended Dec. 31, more than the 1.1% contraction reported last month, the Cabinet Office said. (Source: Bloomberg)

India: Exports rose at a faster pace last month, figures released by trade secretary Rahul Khullar showed, supporting economic growth and providing scope for the central bank to raise interest rates. Merchandise shipments surged 49.8% YoY to USD23.6b in February, Khullar, secretary in the Ministry of Commerce, told reporters in New Delhi. (Source: Bloomberg)

S. Korea: Bank of Korea raised interest rates for the second time this year after inflation exceeded its target ceiling for two consecutive months. Governor Kim Choong Soo boosted the benchmark seven-day repurchase rate to 3% from 2.75%, the central bank said in a statement in Seoul. (Source: Bloomberg)

Thailand: Consumer confidence fell for the first time in three months in February after oil and food prices surged. An index measuring sentiment dropped to 72.2 from 72.6 in January, the University of the Thai Chamber of Commerce said in a statement in Bangkok. (Source: Bloomberg)

Philippines: Export growth eased in January as electronics sales rose at a slower pace. Shipments abroad grew 11.8% YoY to USD4b after rising a revised 26.5% YoY in December, the National Statistics Office said in Manila. (Source: Bloomberg)

Australia: Employers unexpectedly cut workers in February for the first time in 18 months as floods and a cyclone disrupted hiring in the nation's northeast. The number of people employed fell by 10,100 from January, led by a drop in part-time jobs, the statistics bureau said in Sydney. The jobless rate held at 5%. (Source: Bloomberg)