Lazada 7-Eleven MOLPay partnerships

 Malaysia's industrial output expanded 4.6% in March from a year ago, boosted by the manufacturing sector, but the growth was slower than Bloomberg's survey of a 4.8% increase.  The April MPOB data showed palm oil stockpiles rose 1.6mn tonnes (+3.0% MoM, -11.3% YoY), within market expectations of 1.63mn -1.65mn tonnes, and the monthly production increased to 1.55mn tonnes (+5.7% MoM, +19.0% YoY).  SP Setia Bhd's 1Q17 net profit drop 14.8% YoY to RM105.2mn but we deem this to be within expectations as we expect a lumpy revenue recognition from the remaining 9 blocks of Phase 1 Battersea Power Station in 2Q17 and 3Q17.  Malaysia Airports Holdings Bhd registered 10.7mn passengers in April 2017, an increase of 14.7% YoY.  Kerjaya Prospek Group Bhd has bagged a contract worth RM207.4mn for the construction of 166 units of three-storey semi-detached houses, 99 units of three-storey bungalows and ancillary works in Shah Alam.  Mitrajaya Holdings Bhd has bagged a RM160.1mn contract to build residential buildings for a higher learning institution here.  CAB Cakaran Corp Bhd has proposed to undertake a share split of every two existing shares into five split shares, and a bonus issue of up to 138.7mn new split shares to be credited as fully paid-up with 1 bonus share for every four split shares.  Matang Bhd has lost the bid for two parcels of oil palm land in Raub, Pahang, alongside a 60-tonne per hour palm oil mill on-site.  Lay Hong Bhd clarified that its plan to sell a 30% stake in its grocery retailer unit, G-Mart Borneo Retail Sdn Bhd, for a reduced price of RM9.5mn to PanPages Bhd is not expected to result in material gain or loss.  Star Media Group Bhd's board of directors has given the green light for the sale of its 52.5% stake in Cityneon Holdings Ltd, according to sources familiar with the matter.  PRG Holdings Bhd has submitted an application to the Hong Kong Stock Exchange for the proposed listing of its manufacturing business on the Growth Enterprise Market.  7-Eleven Malaysia Holdings Bhd aims to have 20 customers a store per day for offline payment solution through its partnership with Lazada Malaysia and MOLPay.  The European Union raised its 2017 economic growth forecast to 1.9% from 1.8% previously, saying the bloc's revival is strengthening despite geopolitical risks that could undermine its fifth year of recovery.

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