The struggle to find Facebook's worth
In its three days of trading, Facebook's stock has dropped 18 percent from its $38 issue price. For the thousands of investors that bought at the IPO, that's bad enough, but one analysis of its earnings prospects suggests it could get a lot worse - more like $10 a share. Full Article
Reuters Showcase
Reuters India Mobile
Get the latest news on the go. Visit Reuters India on your mobile device. Full Coverage
PRESS DIGEST - MALAYSIA - June 9
Following are the main stories in Malaysian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
THE STAR (www.thestar.com.my)
* The government is ramping up its fight against street crime with several measures, including installing more lighting, traffic mirrors and CCTVs in neighbour-hoods, said Housing and Local Government Minister Chor Chee Heung.
* Higher oil prices and larger volume of sales lifted Petroliam Nasional Bhd's (Petronas) full-year profit more than a third to 63 billion ringgit from 45.5 billion ringgit a year earlier, the national oil company said.
NEW STRAITS TIMES (www.nst.com.my)
* Scholarship recipients who owe the Public Service Department (PSD) more than 30,000 ringgit as principal sum payables for breaching their contracts will be issued bankruptcy notices, Attorney-General's Chambers civil division, execution amd enforcement unit head Mohammad Al-Saifi Hashim said.
BUSINESS TIMES (www.btimes.com.my)
* Higher crude prices and robust demand for major products have led to Petroliam Nasional Bhd (Petronas0 posting better revenue and profit for its financial year ended March 31, 2011, Petronas president Shamsul Azhar Abbas said.
* New York City's first casino, to be spearheaded by Genting Malaysia Bhd in its first venture in the US, is expected to be opened in the fourth quarter of this year, chairman and chief executive Lim Kok Thay said.
THE EDGE FINANCIAL DAILY (www.theedgemalaysia.com)
* Berjaya Corp Bhd (BCorp) is expanding its Kenny Rogers Roasters chain of restaurants in China to tap the emerging economy's huge population base, Berjata Corp said.
* Petroliam Nasional Bhd (Petronas) has set aside 300 billion ringgit, an additional 50 billion ringgit, in capital expenditure to boost the local domestic oil and gas industry over the next five years, Petronas chief executive officer, Shamsul Azhar Abbas said.
THE MALAYSIAN RESERVE (www.themalaysianreserve.com.my)
* Construction player Kim Lun Bhd is confident of reaping greater success with its new product that uses its Industrialised Building System (IBS) technology to garner more local construction projects as well as to penetrate into new markets like Singapore and West Asia, said Kim Lun's chief executive officer Sim Tian Liang.
* Capasia, a private unit of the CIMB Group, on Wednesday signed an agreement to acquire a 12.9 percent equity in Kazakhstan's Central Asian Electric Power Corp for $50 million (150.88 million ringgit).
($1=3.118 Malaysian Ringgit)
(Kuala Lumpur newsroom, +603 2333 8046; fax +603 2161-3340, areuters@gmail.com)) (Kuala Lumpur Newsroom: Tel: +603-2333 8046; Fax: +603-2072 6752; Bureau Email: areuters@gmail.com)
- Tweet this
- Link this
- Share this
- Digg this
- Reprints






Follow Reuters