Barefoot Investor: Media Highlights : US stocks slide on Japan concern, Yen reaches post-WWII high, SEGi named to lead ECCE project, Pharmaniaga gets 10-year govt deal, SingPost rules out Pos stake, Tomei acquires Goldheart operations, Shin Yang resumes services to N-E Asia

US stocks slide on Japan concern, Yen reaches post-WWII high
US stocks sank, erasing the 2011 gain for the Standard & Poor’s 500 Index, and Treasuries rallied as Japan’s nuclear crisis worsened. The yen rose to a post-World War II high versus the dollar on speculation investors will buy the currency to fund rebuilding projects. Equities extended their retreat as US Nuclear Regulatory Commission Chairman Gregory Jaczko told lawmakers that all the water has drained from the spent-fuel pool at a crippled atomic reactor north of Tokyo and high levels of radiation have been released. The United Nations’ nuclear agency planned to call an emergency meeting to discuss the crisis and said the three reactor cores containing fuel are damaged. (Bloomberg)

SEGi named to lead ECCE project
SEG International (SEGi) has been appointed by the Government to lead the development of integrated early child care education (ECCE) under the National Key Economic Area. SEGi told Bursa Malaysia yesterday it would lead the initiative in training and developing early childhood and childcare practitioners. It will also play a lead role in coordinating the establishment of teacher training centres that provide pre- and in-service ECCE courses recognized by Malaysian Qualifications Agency. (StarBiz)

Pharmaniaga gets 10-year govt deal
Pharmaniaga has signed a 10-year concession deal with the Government for the privatization of the medical lab and store. The deal was signed with the Ministry of Health and it covers the right and authority to buy, store, supply and distribute the approved products to the public sector customers. The agreement starts from 1 Dec 2009 until 30 Nov 2019. (BT)

SingPost rules out Pos stake
Singapore Post (SingPost) is not bidding for Khazanah Nasional's 32.2% stake in Pos Malaysia and will also not buy any more shares in courier company GD Express Carrier (GDEX). The postal company, valued at SGD2.2bn (RM5.36bn), on 15 March boosted its stake in GDEX to 27% from 5% as it seeks to expand in the region. The deal raised eyebrows as it was done a day before Khazanah's tender deadline for Pos Malaysia. (Business Times)

Tomei acquires Goldheart operations
Tomei Consolidated is buying the retail operations of Goldheart in Malaysia for RM5.6m. In a statement to Bursa Malaysia, the company said the deal will help it expand and improve its market share in the retail jewellery industry. TCB and its assignee will enter into a fresh agreement or novation agreement with the landlord of the existing retail outlets to continue Goldheart retail operations in Malaysia. (Business Times)

Shin Yang resumes services to N-E Asia
Shin Yang Shipping Corp said its international shipping services serving the Northeast Asia route have resumed operations. “It has resumed to all other Japanese ports save for Sendai Port which was affected by the massive 8.9 magnitude earthquake and tsunami which struck Japan last Friday” it said. (Business Times)


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