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Kencana Capital exits Yinson4 H O M E B U S I N E S S

Genting family dispute: Grandson wins second round

4 H O M E B U S I N E S S

FINANCIALDAILY

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TUESDAY OCTOBER 18, 2016 ISSUE 2270/2016


2



1 4 H O M E

2 2 F E AT U R E

CIMB in talks with China Galaxy to set up stockbroking partnership

Goldman Sachs’ Schwartz leaving as Asia-Pacifi c chairman

‘Bursa Malaysia succumbed to regional outfl ow last week’

Budget 2017: Bold tax measures amid challenging times

King’s power to declare emergency untouched — AG

Why Duterte’s leaving behind his jet ski on his trip to China

SPOTLIGHT ON REVENUE-BOOSTING

MEASURES IN BUDGET 2017

RAM expects government to miss 2016 fi scal defi cit

target of 3.1% of GDP.Ahmad Naqib Idris has

the story on Page 5.




1 4 H O M E

2 2 F E AT U R E

CIMB in talks with China Galaxy to setup stockbroking partnership

as Asia-Pacifi c fichairman

‘Bursa Malaysia succumbed to regional outflow fllast week’



Why Duterte’s leaving behind his jet ski on

RAM expects government tomiss 2016 fi scal defifi cit fi

target of 3.1% of GDP.Ahmad Naqib Idris hhhaaaaasssssss

the sttoooorrrrrryyyyyyyy oooooooonnnnnnn PPPPPPPPaage 5.Th eEdgeProperty.comMORE THAN a property

portal

N E W S . N E W L A U N C H E S . L I S T I N G S . D ATA . A N A LY T I C S


Kencana Capital exits Yinson4 H O M E B U S I N E S S

Genting family dispute: Grandson wins second round


FINANCIALFINANCIALDAILYDAILY




TUESDAY OCTOBER 18, 2016 ISSUE 2270/2016


2



1 4 H O M E

2 2 F E AT U R E

CIMB in talks with China Galaxy to set up stockbroking partnership

Goldman Sachs’ Schwartz leaving as Asia-Pacifi c chairman

‘Bursa Malaysia succumbed to regional outfl ow last week’



Why Duterte’s leaving behind his jet ski on his trip to China

SPOTLIGHT ON REVENUE-BOOSTING

MEASURES IN BUDGET 2017

RAM expects government to miss 2016 fi scal defi cit

target of 3.1% of GDP.Ahmad Naqib Idris has

the story on Page 5.

2 TUESDAY OCTOBER 18, 2016 • THEEDGE FINANCIAL DAILY

BERNAMA

For breaking news updates go towww.theedgemarkets.com

O N E D G E T V

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First squeeze for Gen YOLO

Iran to boost daily oil out-put to four million barrels TEHRAN: Iran, Opec’s third-big-gest member, plans to boost its oil output to a level of four million barrels a day this year, potentially complicating the producer group’s plan to cut supply in an eff ort to prop up prices. Th e Persian Gulf nation will raise production from 3.89 million barrels a day current-ly, Ali Kardor managing direc-tor of National Iranian Oil Co, said yesterday at a conference in Tehran. Amir Hossein Zam-aninia, deputy oil minister for international affairs, told re-porters the country pumped 4.085 million barrels a day be-fore sanctions were imposed on its economy. “We need to reach pre-sanctions production levels,” he said. — Bloomberg

Britain looks at paying into EU budget after Brexit LONDON: Britain might con-tinue to pay billions of pounds into the European Union’s (EU) budget after Brexit to maintain single-market access for the City of London and other sectors under plans being discussed by the government, the Financial Times reported. Prime Minister Th eresa May’s recent rhetoric has perturbed some investors who fear Britain could give up trying to remain in EU’s single market in order to impose con-trols on immigration from the other 27 EU member states. But the Financial Times said yes-terday, May had not ruled out making future payments to the EU to secure privileged access to the single market. — Reuters

‘Banks in UK will shift some activities in 2017’LONDON: Banks based in Lon-don will begin moving some operations to Frankfurt in the second half of next year to en-sure full access to the European Union market, a top Frankfurt offi cial said yesterday. Huber-tus Vaeth, who heads Frankfurt Main Finance, which promotes the German fi nancial centre, said banks have told him they will be moving some operations to Germany next year. “Th e pre-cise size is still open. Th ere will be some re-engineering to be done, and there is no pressure to hurry that up,” Vaeth told Reuters on the sidelines of a Brexit conference. — Reuters

Green Taiwan to blow Malaysia’s mindKUALA LUMPUR: A delega-tion of 11 Taiwanese premi-um green-manufacturers will be hosting “Taiwan Premium Green Products Showcase” at Level LG, Concourse Area, NU Sentral Mall in Brickfi elds, Kuala Lumpur tomorrow. Organised by Taiwan’s ministry of eco-nomic aff airs, the showcase will exhibit a range of exciting and unique digital paper cameras, which come with recycled paper pulp material casings. Registra-tion for the event commences at 10.30am. For details, call Tio at 03 8023 8951/010 2579523.

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PUTRAJAYA: Th e Election Commis-sion (EC) has received 836 notices of objection to its recommendations for the redelineation of electoral bound-aries for Sabah and the peninsula.

Th e proposed redelineation ex-ercise, which was put up for display and feedback for a one-month pe-riod on Sept 15, ended last Friday.

EC chairman Datuk Seri Mohd Hashim Abdullah said based on

Schedule 13 of the Federal Consti-tution, the EC would hold a local inquiry to hear the objections.

He said the objections were re-ceived from state governments, local authorities and groups of 100 people or more, whose names are in the electoral rolls.

“EC will inform qualifi ed par-ties via letter on the date, time and place of the local inquiry,” he said

in a statement here yesterday.Mohd Hashim said the EC appre-

ciates all parties for their coopera-tion and participation in the matter.

Th e EC proposes to implement the redelineation as provided for in Clause (2) Article 113 of the Feder-al Constitution and the amended Clause (2) Article 14 of the Sabah State Constitution, which was ga-zetted on Aug 18. — Bernama

EC receives 836 notices of objection

KUALA LUMPUR: Next year, the government will table amendments to two acts to enable the implemen-tation of the Taxi Industry Transfor-mation Programme (TITP), includ-ing regulating taxi services using e-hailing applications such as Uber and GrabCar.

Minister in the Prime Minister’s Department Datuk Nancy Shukri (pic) said the two acts were the Land Public Transport Act 2010 and the Commercial Vehicles Licensing Board Act 1987.

“Th e move to regulate is appro-priate to ensure the safety of pas-sengers and drivers,” she told the Dewan Rakyat yesterday.

She was replying to a question by Datuk Takiyuddin Hassan (PAS-Ko-ta Baru) on the criteria for taxi ser-vices using e-hailing applications such as Uber and GrabCar, as well

‘E-hailing rules to be tabled next year’ Mobile apps’ demand for clients is opportunity for industry to expand

as their eff ects on the incomes of conventional taxi drivers.

Nancy said the implementa-tion of e-hailing in the country was based on the high demand by con-sumers and the growing use of mo-bile technology in daily activities.

“The government found that more than 50% of taxi passengers

in Malaysia are using mobile ap-plications to get a taxi, while only 14% of taxi drivers are inclined to use applications to get passengers.”

Th erefore, she said the e-hailing service should not be seen as com-petition to conventional taxis but it should be looked at as an opportu-nity for taxi drivers to complement and balance the demand and trend in the market.

Nancy quoted an online re-search which indicated that more than 70% of the 45,000 respondents wanted e-hailing services to be im-plemented and regulated and 59% of the application users had never used a taxi service.

“Th is shows that there is new demand for clients from the mo-bile application segment. Th is is an opportunity for the industry to expand,” she said. — Bernama

NEW YORK: Mark Schwartz, Gold-man Sachs Group Inc’s Asia-Pacifi c chairman, will step down at year end and be an adviser to the fi rm.

Schwartz, 62, who has worked at the fi rm for 27 years and is based in Beijing, will become a senior direc-tor, the New York-based bank said yesterday in a memo to staff . Ken Hitchner will remain as president of Asia-Pacifi c ex-Japan, and Masa Mochida will continue to serve as president of Goldman Sachs Japan, according to the memo.

“Th roughout most of his ten-ure at Goldman Sachs, Mark played an instrumental role in shaping our strategy in Asia-Pa-cifi c,” chief executive offi cer Lloyd Blankfein and president Gary Cohn said in the memo.

Schwartz’s departure comes as the bank faces scrutiny for past Asia deals, and heightened

Goldman Sachs’ Schwartzleaving as Asia-Pacifi c chairmanBY D A K I N C A M P B E L L competition for new business. Th e

company is under investigation for its role in underwriting US$6 billion of bond sales for 1Malay-sia Development Bhd who is at the centre of several international probes into suspected corruption and money laundering. Goldman Sachs’ ranking for Asia ex-Japan equity off erings plummeted from second in 2015 to 11th this year through Sept 24, its worst show-ing in about eight years, according to data compiled by Bloomberg.

Th e Wall Street Journal report-ed Schwartz’s planned exit earlier yesterday.

Th e company is planning to reduce jobs across the region, though the depth of the cuts has lessened in recent weeks. Gold-man Sachs intends to trim about 15% of its investment banking jobs in Asia outside of Japan, few-er than the 25%, or 75 positions, initially considered last month,

a person with knowledge of the matter said.

Schwartz joined Goldman Sachs in 1979 and rose through the ranks, founding the high-yield department in 1985, becoming partner in 1988, and running debt capital markets for a number of years in the 1990s, the memo said. In 1997, he moved to Asia to take on a series of management roles before leaving the fi rm in 2001, the memo said. He rejoined in 2012 in his current position and served on the management committee.

Schwartz, also a vice-chairman at Goldman Sachs, received US$22 million in total pay, including a US$4 million incentive, for 2015.

The bank has also lost other senior leaders in the region. Th e head of Southeast Asia, Michael Smith, is planning to leave after 10 years at the fi rm, people with knowledge of the matter said last month. — Bloomberg

www.sentralsuites.com.my

4 H O M E B U S I N E S S TUESDAY OCTOBER 18, 2016 • THEEDGE FINANCIAL DAILY

Genting family dispute: Grandson wins 2nd roundCourt of Appeal upholds High Court decision that family trust deed be disclosed

Puncak Niaga to buy Shin Yang oil palm unit for RM446m

TH Heavy denies defaulting on RM170m sukuk

BY B I L LY TO H

BY C H E S T E R TAY


MOST VIEWED STORIES ONtheedgemarkets.com

KUALA LUMPUR: Shin Yang Holdings Sdn Bhd, the controlling shareholder of Sarawak Oil Palms Bhd (SOP), which is disposing of a major oil palm subsidiary to SOP, is now selling another oil palm outfi t — this time to Puncak Niaga Holdings Bhd.

Shin Yang had previously sold Shin Yang Oil Palms (Sarawak) Sdn Bhd, which owns 47,000ha of plantation land in Belaga Dis-trict in Sarawak, to SOP. Shin Yang is now selling Danum Sinar Sdn Bhd to Puncak Niaga for RM446.51 million cash.

In a fi ling with Bursa Malay-sia yesterday, Puncak Niaga said Danau Semesta Sdn Bhd — a 60%-owned company of Murni

Estate Sdn Bhd, which in turn is a wholly-owned subsidiary of the group — has entered into an agree-ment with Shin Yang to acquire the entire shareholding of Danum Sinar.

Another 30% stake in Danum Se-mesta is held by Sunshine Upland Sdn Bhd (controlled by property businessman Tan Sri Yee Ming Seng), while the remaining 10% is owned by Astaka Suria Sdn Bhd, a dormant company that is wholly-owned by Shin Yang. With this, Danau Semesta has become a 60% owned sub-sub-sidiary of Puncak Niaga.

Puncak Niaga said the purchase consideration will be funded by Da-num Sinar’s shareholders and bank borrowings. It said that Danum Sinar is expected to contribute positively to the group’s future revenue growth and earnings. “Danum Sinar is a

KUALA LUMPUR: Th e family feud between the sons and three grand-children of Genting Bhd founder, the late Tan Sri Lim Goh Tong, has certainly captured the attention and interest of the corporate com-munity.

In the latest development, the Court of Appeal yesterday ordered the disclosure of the Tee Keong Family Trust deed. Th is is a discre-tionary trust set up by Goh Tong in 1990 for his son, the late Datuk Lim Tee Keong, and his family.

“Th e Court of Appeal has today (yesterday) upheld the High Court’s decision to order that the trustee of the Tee Keong Family Trust, Infoline Sdn Bhd, disclose the trust deed to Benjamin Lim,” said Jeff rey Lee, a lawyer with Messrs Ranjit Singh & Yeoh, the fi rm representing Benja-

KUALA LUMPUR: TH Heavy En-gineering Bhd has come out to say that it had not defaulted on its non-rated sukuk murabahah, which has a nominal value of RM170 million.

In a fi ling with Bursa Malay-sia, TH Heavy said the variation of terms to extend the maturity date of the Islamic bond by one year from Sept 30 this year to Sept 29 next year, had earlier been ap-proved by the sukuk holders.

min Lim Keong Hoe against Infoline for the disclosure of the trust deed.

Keong Hoe is the son of Tee Ke-ong. His uncle Datuk Lim Chee Wah is a director and shareholder of Infoline.

“Th e disclosure of the deed has to be done within 14 days from to-day (yesterday),” added Lee.

Th e Edge weekly, in its Oct 10-16 edition, reported that Keong Hoe and his sister Marie Lim Seok Leng were removed as “discretionary benefi ciaries” of the trust.

According to the report, Keong Hoe found out in August 2014 that he had been removed as a benefi -ciary of the family trust, from the trustee’s reply to his request for a copy of the trust deed in July 2014 to ascertain his and his children’s rights and entitlements.

He was not informed of the re-moval and objected to the removal,

demanding a copy of the trust deed via an email in October 2014. Not receiving any response, he com-menced legal proceedings.

According to the report, Keong Hoe only found out in January last year that his removal as a benefi -ciary of the family trust was with eff ect from March 18, 2014, just a month before Tee Keong passed away.

In December 2015, Seok Leng wrote to the trustee to obtain a copy of the trust accounts. With no re-sponse from the trustee, she wrote in again, giving a deadline to reply by Jan 18, 2016, fi ve days after her request. Th e trustee’s silence result-ed in Seok Leong commencing legal action, only to discover her removal as a benefi ciary of the family trust.

Infoline said that it has no obliga-tion under the discretionary trust to inform Keong Hoe and Seok Leong

of their removal as benefi ciaries nor to disclose the reasons.

Th e High Court, during the same month (December 2015), ordered the trustee to provide the discre-tionary trust deed to the court for review before ruling in favour of Keong Hoe, ordering the trustee to disclose the trust deed to him.

Th e Court of Appeal — repre-sented by a three-member panel comprising Datuk Rohana Yusuf, Tan Sri Idrus Harun and Datuk Mary Lim Th iam Sun — yesterday upheld the High Court’s ruling. Th e defend-ants are entitled to another round of appeal if they apply for leave to appeal at the Federal Court.

Th e ruling in this matter could set the stage for other legal suits that have been taken against the two uncles, Kok Th ay and Chee Wah.

Infoline is the trustee of the Tee Keong Family Trust, while Amaline

(M) Sdn Bhd succeeded Goh Tong as the guardian and appointor of the trust upon Goh Tong’s death. Kok Th ay, who is the chairman and chief executive of Genting Bhd, is also a director and shareholder of Amaline, who has the power to ap-point and dismiss the trustee as well as the right to inform and approve decisions made by the trustees.

Keong Hoe and Seok Leng con-tend in their suits against Infoline and Chee Wah that the Tee Keong Family Trust was created and estab-lished for the benefi t of Tee Keong, his family members, including the plaintiff s, as well as his descendants.

Th e disclosure of the trust deed may allow insight into the details of the trust, and help determine if there has been misuse of power in the removal of Keong Hoe and Seok Leong as benefi ciaries of the family trust.

Additionally, the group said the proceeds from the sukuk were uti-lised to partly refi nance the term fi nancing for the acquisition of the fl oating production storage and of-fl oading Layang vessel.

TH Heavy’s disclosure is in re-sponse to a media report last week, quoting an anonymous banker, who suggested that the group had de-faulted on the debt paper but could be in informal talks to restructure its payments.

In a separate filing, TH Heavy also disclosed that it received an-

Kencana Capital exits YinsonBY Y I M I E YO N G

KUALA LUMPUR: Kencana Cap-ital Sdn Bhd has exited Yinson Holdings Bhd. Th e investment vehicle, in which Tan Sri Mokhza-ni Mahathir holds a 70% stake, has sold 119.71 million shares to Trinity View Sdn Bhd, a com-pany owned by its other share-holder Datuk Yeow Kheng Chew for RM367.5 million or RM3.07 per share.

On top of that, Kencana Cap-ital has distributed dividend in species to its two shareholders.

RM

Oct 19, 2015 Oct 17, 2016

0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

2.5

3.0

3.5Vol (mil)

Yinson Holdings Bhd

RM3.19

— Paulene Chee Yuet Fang and Tan Yee Chee, a remisier — were charged by the Securities Com-mission Malaysia with insider trading in relation to the pro-posed merger of Kencana Pe-troleum Bhd and SapuraCrest Petroleum Bhd in 2011.

The alleged offences were committed at Bursa Malaysia Securities Bhd on July 8, 2011.

Kencana Capital bought into Yinson in 2013 through two share placements, emerging as the oil and gas services company’s sec-ond largest shareholder after Yin-son’s founder and managing di-rector Lim Han Weng.

Yinson shares closed one sen or 0.31% higher at RM3.19 yester-day, with a market capitalisation of RM3.47 billion. Year to date, the counter has risen 9.62%.

well-established company with its principal activities in the oil palm cultivation. Th e majority of the lands held by Danum Sinar are vacant plantable areas, and of the total planted portion, the majority of the area is fi lled with young palms with longer harvest-ing periods,” it said.

Puncak Niaga said the acqui-sition presents an opportunity, being both “attractive strategically and fi nancially” to the group ven-turing into the oil palm planta-tion sector, which has the ability to generate “steady fl ow and re-curring source of income” in the long term.

Puncak Niaga shares fell one sen or 0.87% to RM1.14 yesterday, giving it a market capitalisation of RM509.86 million.

other winding-up petition against its 70%-owned subsidiary THHE Off shore Sdn Bhd, for a claim of RM2.52 million, including 5% in-terest calculated from the date of writ of summons.

TH Heavy said THHE Off shore has sought legal advice on the matter with a view of defeating the petition.

TH Heavy’s share price closed half a sen or 2.78% lower at 17.5 sen yesterday, giving it a mar-ket capitalisation of RM196.19 million.

Mokhzani has ceased to be a substantial

shareholder in Yinson.

After the share sale and share dividend, Yeow, who is known as Mokhzani’s close associate, holds 14% or 153.37 million shares in Yinson, according to Yinson’s fi lings with Bursa Malaysia yes-terday.

Meanwhile, Mokhzani has ceased to be a substantial share-holder in Yinson.

Bloomberg data showed some Yinson shares were crossed off market at RM3.07, which was 12 sen or 3.76% lower than yester-day’s closing of RM3.19.

In July, Yeow and two others

H O M E B U S I N E S S 5TUESDAY OCTOBER 18, 2016 • THEED G E FINANCIAL DAILY

CIMB in talks with China fi rm to set up stockbroking partnership

Spotlight on revenue-boosting measuresRAM expects government to miss 2016 fi scal defi cit target of 3.1% of GDP

Watchdog says about 15 Swiss banks in money laundering ‘red zone’

BY A H M A D N A Q I B I D R I S

BY G H O C H E E Y UA N

KUALA LUMPUR: Malaysian rat-ing agencies are expecting reve-nue-boosting measures to be in the spotlight for Budget 2017, as gov-ernment revenue remains subdued while expenditure remains high.

Malaysian Rating Corp Bhd (MARC) noted that government rev-enue declined 10% year-on-year for the fi rst half of 2016 (1H16), while overall expenditures rose by 5.4%, leading to higher-than-expected budget defi cits for the period.

Th e tighter conditions in the fi rst half limited the government’s ability to aggressively consolidate its fi scal position.

“Th at said, however, the fi scal po-sition in 2H16 may improve slightly as the government takes additional eff orts to enhance revenue collection through proceeds from Petroliam Nasional Bhd (Petronas) and levy on foreign workers,” MARC chief economist Nor Zahidi Alias said in a report yesterday.

VIENNA: Roughly 15 Swiss banks are in a “red zone” of lenders par-ticularly exposed to money laun-dering risks, the head of Swiss banking watchdog, the Financial Market Supervisory Authority (Finma) said in a newspaper in-terview published on Sunday.

Swiss federal prosecutors last week said that they had opened criminal proceedings against Zu-rich-based Falcon Private Bank for alleged failure to prevent sus-pected money laundering linked to Malaysia’s scandal-tainted 1Malaysia Development Bhd (1MDB).

Falcon is the second Swiss bank, after BSI, to face a crimi-nal investigation by Switzerland’s Offi ce of the Attorney General over links to 1MDB. Th e move is partly based on an investigation by Finma, which has also opened proceedings against several oth-er lenders.

“We have introduced a warn-ing system in relation to money laundering risks,” Finma chief ex-ecutive Mark Branson said in an interview with Swiss newspaper SonntagsZeitung. “Roughly 15 banks are in the red zone here. Th at means they are particularly exposed.”

Branson did not name the banks concerned but said that most of them were involved in as-set management and often have clients from emerging markets,

adding that the lenders were from all areas of the country and of various sizes.

Asked whether any major Swiss banks were among them, he said: “I would not use the plu-ral, but yes.”

Banks on the list are mon-itored more closely and must provide Finma with additional information, but the watchdog wants them to understand the emerging markets in which they operate rather than withdraw from them, Branson said.

Falcon, which Finma has or-dered to turn over 2.5 million Swiss francs (RM10.66 million) in what the watchdog said was illegal profi ts, is being given a second chance but would lose its banking licence in the event of a repeat off ence, he said.

Some banks are increasingly willing to take risks in relation to money laundering as they come under growing economic pres-sure to fi nd new clients, Bran-son said, but banks have also reported more suspicious cases in recent months.

In addition to investigations linked to 1MDB and a sepa-rate scandal involving Brazil’s state-controlled oil producer Petro-bras, Branson said that Finma is investigating an unnamed Swiss bank in relation to Fifa, the world football governing body mired in corruption probes. — Reuters

Government revenue and

total expenditure growth

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Sources: CEIC, MARC Economic Research

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Govt revenue 2Q-ma (% y-o-y)

Govt total expenditure 2Q-ma (% y-o-y)

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“In addition, revenue from pe-troleum income tax will likely be higher than expected as average crude oil prices remain above US$40 (RM168.40) per barrel this year, against the government’s projec-tion of between US$30 and US$35 per barrel,” he added.

He is forecasting total expendi-ture to shrink in 2H16, as the gov-ernment pushes to meet its targeted RM9 billion reduction announced in the previous budget.

Amid the low-revenue environ-ment, Nor Zahidi said Budget 2017 will potentially focus on sustaining fi scal defi cits going forward, expect-ing the government to maintain the defi cit target at around 3% of gross domestic product (GDP) in 2016 and 2017.

“If this proves to be the case, then cost-cutting measures will remain a prominent feature in Budget 2017. Such a scenario could mean be-low-trend economic growth in 2017 as expenditures will be cautious-ly planned in order to achieve the

budget defi cit target,” he explained.Despite the slower growth, Nor

Zahidi said this would not create an “overly negative perception” among rating agencies and investors as it would be seen as a short-term devi-ation during the current down cycle — without contradicting the overall long-term fi scal consolidation plan.

RAM Rating Services Bhd ana-lyst Jason Fong said the agency is expecting the government to miss its 2016 fi scal defi cit target of 3.1% of GDP, due to lower-than-expected revenue for the year.

RAM expects the government to miss the target by 0.2 percentage points at 3.3% of GDP, which it said was a conservative estimate.

“Th is is a conservative estimate as oil prices are now higher than the government’s US$30-US$35 per barrel assumption, and the govern-ment has the fl exibility to tap Petro-nas’ distributable profi ts in excess of RM350 billion,” said Fong.

He added that government ex-penditure could potentially increase

in 2017, ahead of the upcoming gen-eral election amid a volatile global environment.

Fong also expects a marginal pace of consolidation in Budget 2017, with the government likely to revise its medium-term fi scal defi cit target of 2.7% of GDP for 2016 to 2018.

“To achieve its long-term fi scal balance target by 2020, the govern-ment may explore other revenue sources, which have not been con-sidered. Th ese could include capi-tal gains tax on investments, taxes on dividends and inheritance tax,” he said.

Meanwhile, Fong noted that the government had reduced its reli-ance on oil-related revenue, with the government targeting this segment to make up 14.1% of total revenue, versus 33% in 2010.

He said the gradual reduction in reliance on oil revenue was mit-igated by diversification of fiscal revenue sources, including through the introduction of the goods and services tax.

Zafrul (left) and China Galaxy Securities deputy chairman and president Gu Weiguo at the heads of terms signing ceremony held at China Galaxy Securities headquarters in Beijing yesterday.

KUALA LUMPUR: CIMB Group Holdings Bhd said it is negotiat-ing a 50:50 joint venture (JV) in the stockbroking business with China Galaxy Securities Co Ltd. Th is con-fi rms a report in Th e Edge Financial Daily on Monday.

The country’s second-largest lender by asset said the two sides have signed a heads of terms to explore a strategic partnership in institutional and retail brokerage, equities research and associated securities businesses, and to identify further areas of cooperation in the relevant markets where they operate.

“Th rough the JV, the group will be in an advantageous position to cap-italise on China-outbound mergers and acquisitions and other capital market activities through enhanced synergies and cross-selling opportu-nities, as well as benefi t from China’s focus on infrastructure development projects, such as the ‘One Belt One Road’ project, which will facilitate further growth, consumption and capital fl ows into the region,” said CIMB in a bourse fi ling yesterday.

Th e Edge Financial Daily report-ed that CIMB was looking to sell a stake of up to 50% in its securities business and was in advanced talks with a top three Chinese stockbrok-ing company in China.

“Th e top management of CIMB will be in Beijing this week,” the re-

port cited a source familiar with the matter as saying.

In its fi ling, CIMB said it will con-tinue to off er investment banking and capital market products and services to its clients.

“Th e JV will operate the stock-broking business, providing an extensive equity distribution plat-form and research services to

complement and support CIMB’s fully-owned investment banking business and capital market busi-nesses,” it said.

Through this exercise, CIMB’s stockbroking business will eff ec-tively be repositioned as a pure play broker with the client base of a uni-versal bank, according to the bank.

CIMB group chief executive Tengku Datuk Seri Zafrul Aziz said the partnership heralds the future for the stockbroking business.

“Th e model of the pure play JV broker working strategically with the bank is a hybrid model that paves the way for both parties to create stronger capabilities and depth to get ahead of the curve,” he said.

Following the signing of the heads of terms, the two sides will fi nalise negotiations and target to execute defi nitive agreements within three months.

BY J OYC E G O H

KUALA LUMPUR: CIMB Group Holdings Bhd is in advanced talks to sell a substantial stake in its securities business and will likely sign a heads of agreement (HoA) as early as this week for

CIMB likely to sign HoA with China fi rmIt will sell a sizeable stake in its securities business — sources

tionship options it was explor-ing included selling part of the group’s stake in the securities business.

“CIMB wants a partnership structure that can help it im-prove its cost-to-income ratio, but at the same time does not in-

er the local banking group had overstretched itself.

Nevertheless, CIMB’s cost-to-income ratio seems to have improved recently. For the first half of this year (1HFY16), the ratio dropped to 55.4% compared with 56.7% in 1HFY15. Its cost

Flashback: Oct 17, 2016

“Th at said, should global com-modity prices continue to deterio-rate, Malaysia’s fi scal space will be constrained. Th is especially con-cerns the government’s operating expenditure as the government has a fi scal rule of maintaining an oper-ating surplus.

“Structural adjustments to oper-ating expenditure — particularly in respect of spending effi ciency — will be essential to maintain this rule. Further, the government would have to consider other options to broad-en its revenue sources,” Fong said.

Although the pace of fi scal con-solidation has slowed down, com-pared with that of between 2009 and 2015, RAM maintained its gA2/stable/gP1 rating, as the government has “adequate capacity to meet its obligations”.

“Th e government’s commitment to consolidation continues to un-derscore its fi scal orientation,” said the agency.


EDL sale will give MRCB ‘sound footing, fi nancially’Group will use proceeds to settle debts, fund projects — source

BY A D E L A M EG A N W I L LY

KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB) will use the proceeds from the disposal of its stake in MRCB Lingkaran Selatan Sdn Bhd, the concession holder of the Eastern Dispersal Link (EDL) Expressway in Johor, to settle debts and fund future property developments.

A source close to the matter told Th e Edge Financial Daily that MRCB is in the midst of “reviewing and validating” the two proposals submitted by PLUS Malaysia Bhd and a client of ZJ Advisory Sdn Bhd — a process that could take about four to six months.

“We are now going through the


KUALA LUMPUR: Shares in Only World Group Holdings Bhd (OWG) fell as much as 3.1% to hit an intraday low of RM2.21 yesterday, on concerns that Saturday’s fi re inci-dent would delay the opening of its theme park in the Komtar building at George Town, Penang.

The stock traded at between RM2.21 and RM2.27 before closing at RM2.26, down two sen or 0.88% from last Friday’s closing of RM2.28, with 650,200 shares done. Its market capi-talisation stood at RM548.92 million.

A fi re reportedly broke out on level fi ve of the Komtar building on Saturday at about 9.30am, which spooked investors’ concern that it may aff ect the opening timeline of the soon-to-be opened theme park in Komtar. Th e Penang Fire and Res-cue Department spokesman said that the fi re was put out by 10am. Nobody was injured in the incident.

In a note to clients yesterday, CIMB Research said it spoke to OWG’s management to obtain clar-ity on the matter and was told that the fi re damage was immaterial.

“According to management, welding works on steel structures in the outdoor rear area of level fi ve ignited some aluminium foil that started a small fi re. Th is resulted in heavy smoke,” it said.

“Management clarifi ed that the incident does not aff ect its offi cial opening date of Dec 18. It main-tains its planned November dead-line for opening the interactive lift and outdoor themed attractions,” the research fi rm added.

With improved clarity on the theme park’s opening timeline, CIMB Research believes that the stock is poised for a signifi cant rerating.

“OWG is trading at a forward 2017 price-to-earnings ratio of only 11.4 times, which is more than a 50% discount to the food and beverage sector’s average. Th is is unjustifi ed, in our view, as the Komtar delay is merely a timing issue,” it noted.

CIMB Research is maintaining its “add” rating on OWG with a target price of RM4.36, assuming a late-No-vember opening of the interactive lift and outdoor themed attractions at Komtar.

“We have not imputed any rev-enue and profi t contributions from the themed attractions at Komtar. We have also not imputed addi-tional profi t contribution from the additional space that OWG will be securing, as it is still fi nalising the amount of additional space in Sky Plaza in Genting Highlands,” it said.

Yesterday, Bernama quoted Glob-al Built Sdn Bhd managing director Lim Chip Keong as saying that the construction progress of the theme park was still on track and scheduled to be completed by end-November.

“Th e blaze only aff ected a small portion of the roof on that fl oor. Th e roof is 24ft high, so the fi re was an isolated one. Th at was why you saw a lot of smoke at the roof level. Th e fi re was minimal,” he said in the report.

“No damage was reported at any of the premises. Th e fi re was put out within half an hour, and no injuries were reported. Th e cost of damage has not yet been determined,” the report added.

OWG clinched the RM180 mil-lion Komtar revitalisation project from Penang Development Corp in December 2012.

OWG shares fall as fi re incident spooks investors

RM

Oct 19, 2015 Oct 17, 2016

0

20

4

6

8

1.5

2.0

2.5

3.0Vol (mil)

Only World Group Holdings Bhd

RM2.26


KUALA LUMPUR: Minority share-holders of Malaysia Packaging In-dustry Bhd (Maypak) and Alumin-ium Co of Malaysia Bhd (Alcom) have been advised to reject take-over off ers put forward to them by their respective off erors yesterday.

In its independent advice cir-cular to the respective companies’ shareholders yesterday, Mercu-ry Securities Sdn Bhd made the recommendation as it deemed the offer price of both deals un-attractive.

In relation to Maypak’s takeo-ver bid by Taisei Lamick Co Ltd, Mercury Securities said the off er price given by the Japanese fi rm at 65 sen per share represented a signifi cant discount of 63.07% over the estimated revalued net asset value (RNAV) per Maypak share of RM1.76.

Mercury Securities estimated that the RNAV of the entire equity interest in Maypak is approximate-ly RM73.86 million or RM1.76 per share, based on the RNAV meth-odology.

Th is is despite, it noted, that the offer price has been higher than the closing market prices of Maypak shares over the past 10 years up to the takeover off er date, except on Jan 15, 2014.

“The offer price represents a premium of between 16.15% and 38.83% over the five-day, one-month, three-month, six-month

‘Maypak, Alcom minority shareholders told to reject takeover off ers’

and one-year volume weighted av-erage prices (VWAPs) of the May-pak shares up to the takeover off er date,” it added.

On Sept 15, Taisei Lamick said it intends to delist Maypak from the Main Market of Bursa Malay-sia after its planned acquisition of a controlling 54.95% stake in Maypak becomes unconditional.

While it deemed the deal as “unfair”, Mercury Securities said the takeover off er by Taisei Lam-ick is “reasonable” as it provides an exit opportunity to the share-holders to realise their investment in the stock.

In the case of Alcom, Mercury Securities deemed the takeover off er by Yeoh Jin Hoe, group man-aging director of Kian Joo Can Fac-tory Bhd and Box-Pak (M) Bhd, for the country’s leading manufacturer of aluminium rolled products as “not fair” and “not reasonable”.

Th is is premised on the fact that the off er price is nearly 69% below the company’s RNAV valuation per share.

According to the independent advisor, the off er price of 61 sen per share is a 68.88% discount to the RNAV per Alcom share of RM1.96.

“Th e off er price was also lower than the closing market prices of Alcom shares for approximately 80% of the total market days over the past fi ve years up to the take-over notice,” it added.

Yeoh’s off er price also repre-sents a discount of between 23.65%

process of reviewing and validating both off ers. Th is is a related-party deal which means we would need to get consent from our independ-ent advisers and shareholders,” the source said yesterday.

Last Friday, MRCB announced that it had received indications of interest from PLUS and ZJ Adviso-ry’s client to acquire its interest in the EDL concessionaire.

According to the source, MRCB is keen to sell its interest as it would give the group a “sound footing, fi nancially”.

“We will use all proceeds [from the disposal] to settle our debts and fund future construction pro-jects. Th ere are a few land banks which we are targeting, although

we are unable to reveal any more information on this,” the source said.

Th e source added that the dis-posal of the expressway would lower MRCB’s gearing from the current 1.3 to about 0.7 by mid-2017.

Notwithstanding this, MRCB is unfazed by the current slowdown in the economy and the property sector, as it is optimistic about its outlook given the healthy perfor-mance of its business.

“Our projects are well locked-in and the number of tenants of our new properties is increasing. We should not have any problem for the next two years at least. We are comfortable,” the source said.

and 29.92% over the fi ve-day, one-month, three-month, six-month and one-year VWAPs of Alcom shares up to the latest practica-ble date.

Nevertheless, Mercury Securi-ties pointed out that Yeoh intends to maintain the listing status of Al-com and does not intend to com-pulsorily acquire any outstanding off er shares for which valid accept-ances have not been received prior to the closing date.

Yeoh had in August launched a takeover bid for Alcom to acquire the remaining 54.02 million shares in Alcom, via his private vehicle Towerpack Sdn Bhd, after Tower-pack bought 78.23 million shares or 59.16% for RM47.72 million or 61 sen per share.

Towerpack is owned by Yeoh and his two sons, Marc Francis Yeoh Min Chang and Keith Chris-topher Yeoh Min Kit. Yeoh is also a director of Towerpack, as well as a major shareholder of Can-One Bhd.

Shares in Maypak have been on the uptrend since the takeover offer was announced. It surged 19 sen or 41.3% to settle at 65 sen yesterday from 46 sen on Sept 15, valuing it at RM27.33 million.

Meanwhile, Alcom’s shares closed unchanged at 97 sen yes-terday, with a market capitalisation of RM128.95 million. The stock has gained 13 sen or 15.5% since the takeover announcement was made, from 84 sen on Aug 19.

BY S U P R I YA S U R E N D R A N

KUALA LUMPUR: KPJ Healthcare Bhd plans to develop a five-acre (2.02ha) piece of land in Batu Pahat, Johor into a RM67.6 million hospital to be known as KPJ Batu Pahat Spe-cialist Hospital.

In a filing with Bursa Malay-sia yesterday, KPJ said its whol-ly-owned subsidiary Puteri Spe-cialist Hospital (Johor) Sdn Bhd has entered into an agreement to lease a hospital building and the land from Johor Land Bhd and land-owner Johor Corp (JCorp) for the proposed development.

Th e agreement is deemed a re-lated-party transaction as JCorp is a major shareholder of KPJ with a 44.3% stake, while Johor Land is a wholly-owned subsidiary of JCorp.

JCorp is the registered owner of the land.

Th e proposed hospital, which is to be constructed on the portion of

the land, will be a seven-storey 90-bed hospital building, with a gross fl oor area measuring approximately 157,500 sq ft and 162 car parking bays with a built-up area of 21,797.1 sq ft.

Johor Land will construct the pro-posed hospital at its own costs and expenses in accordance with the specifications provided by Puteri Specialist. The development cost of the hospital is estimated to be RM67.6 million.

Subject to the execution of the lease agreement, the monthly rental payable by the lessee (Puteri Special-ist) will be a sum equivalent to one-twelfth of 6.5% of the development cost, which works out to be approxi-mately RM366,200 per month.

Th e development of the hospi-tal is expected to take 24 months to complete.

KPJ said that the proposal is in line with the group’s objective to in-crease its network of hospitals where private healthcare is in demand.

KPJ to build RM67.6m hospital in Johor

H O M E B U S I N E S S 7TUESDAY OCTOBER 18, 2016 • THEED G E FINANCIAL DAILY

Bursa Malaysia succumbed to regional outfl ow last weekTh is is in line with other regional markets — MIDF Research

BY S U R I N M U R U G I A H

BY A N E T T E A P PA D U R AY


BY A H M A D N A Q I B I D R I S

Average prices of CPO

1Q2016 2Q2016 3Q2016 4Q2016 2016 (ACTUAL) (ACTUAL) (ACTUAL) (FORECAST) (FORECAST)

RM2,404 RM2,602 RM2,596 RM2,300 RM2,300

RM2,500 RM2,500Source: RAM Rating

KUALA LUMPUR: Foreign investors pulled out RM227.4 million worth of shares from Bursa Malaysia last week, in line with other regional markets as the ringgit weakened further to 4.19 against the US dollar.

“Th is is compared to an infl ow of RM118.8 million the week prior,” said MIDF Research.

In his weekly fund fl ow report yesterday, its head Zulkifl i Hamzah said this week that all eyes will be on the tabulation of Budget 2017 slated for Friday.

He noted that foreign investors were net sellers last Monday (RM25.2 million), last Wednesday (RM108 million), last Th ursday (RM46 mil-lion), and last Friday (RM100.2 million). Th ey were net buyers only

last Tuesday (RM12.4 million).“Th e foreigners’ participation

rate fell drastically from RM1.04 billion the week earlier to RM783.2 million last week,” he added.

Year to date, the cumulative net foreign infl ow contracted to RM2.19 billion compared with RM2.42 bil-lion the week before.

“In retrospect, foreigners had offl oaded RM19.5 billion in 2015 and RM6.9 billion in 2014,” he said.

Meanwhile, Zulkifl i pointed out that local institutions turned net buyers during the week, loading up RM309.5 million worth of shares. Th at occurred after they sold off RM30.9 million in the preceding week, he said.

“Local funds were buyers [last] Monday (RM44.7 million), [last] Wednesday (RM136 million), [last]

Th ursday (RM51.6 million), and [last] Friday (RM109.7 million). On the other hand, they sold stocks [last] Tuesday (RM32.5 million),” he added.

Zulkifl i also said retailers last week continued to sell stocks for the third successive week by off -loading RM82.1 million.

“In the week earlier, they sold RM87.9 million. Th ey were net sell-ers every single day last week. Th ey divested stocks worth RM19.5 mil-lion [last] Monday, RM19.5 million [last] Tuesday, RM28 million [last] Wednesday, RM5.6 million [last] Th ursday, and RM9.5 million [last] Friday,” he said.

The participation rate for all three categories of investors de-clined last week due to the change in macro outlook that was large-ly influenced by the US Federal

Reserve’s (Fed) higher chances of monetary tightening in December.

“Th at has led to money fl owing out of emerging markets. Th ere

were no visible catalysts locally,” said Zulkifl i.

Regionally, he said statistics from the seven Asian markets that MIDF Research tracks revealed that global investors pulled out US$1.27 billion (RM5.35 billion) last week, partially off setting three successive weeks of infl ow, during which an infl ow of US$3.4 billion had been recorded.

“Global equities fell last week due to higher chances of the Fed tightening monetary policy and expectations of below-par corpo-rate earnings in the US. However, US stocks gained [last] Friday after strong banking earnings.

“All the Asian stock markets we track ended the week lower except for China’s CSI 300, which rose 1.62% as investors digest mixed eco-nomic indicators,” Zulkifl i added.

KUALA LUMPUR: Crude palm oil (CPO) prices are expected to end the year at an average of RM2,300-RM2,500 per tonne, after having achieved an aver-age of RM2,556 per tonne for the first nine months of 2016 (9M16), said RAM Rating Services Bhd.

“Despite current spot prices of about RM2,600-RM2,700 per tonne, we have maintained a similar price band for 2017 in view of an expected recovery in crop yields and palm produc-tion,” the rating agency said in a report yesterday.

Palm oil inventory amount-ed to 1.55 million tonnes as at

RAM sees CPO closing 2016 at RM2,300 to RM2,500

end-September 2016, falling 41% year-on-year (y-o-y) as a result of ravaging effects of El Nino weather conditions on crop yields.

To this end, RAM said palm production remained weaker than anticipated, with output for 9M16 15% lower y-o-y.

“While the ravaging effects of El Nino should ease in the remaining quarter of the year,

full-year output is expected to fall this year as opposed to fairly flat previously, before recovering in 2017,” it added.

Meanwhile, RAM noted that palm oil exports had been gen-erally sluggish this year due to a combination of diminished pro-duction, the narrower premium of soybean oil to palm oil, com-petition from Indonesian palm oil and slower global growth.

Takaful Malaysia’s net profit

(RM mil)

0

10

20

30

40

50

3Q 4Q

FY2015 FY2016

1Q 2Q 3Q

34.4236.38

46.62 45.53 44.86

KUALA LUMPUR: Green Packet Bhd has proposed to undertake a private placement to raise up to RM14.5 million for product and business development, future in-vestments and working capital.

In a fi ling with Bursa Malaysia yesterday, Green Packet said the placement size would come up to 68.57 million shares, representing up to 10% of the group’s total issued share capital.

Assuming that the placement shares are issued at an indicative issue price of 21 sen per placement share, being a discount of about 8.7% to the fi ve-day weighted aver-age market price of Green Packet’s share up to and including Oct 14, the company is expected to raise gross proceeds of between RM14.4 million and RM14.5 million.

Of the total proceeds raised, Green Packet plans to utilise RM9 million for the group’s product and business development, RM5 mil-lion for future investments, up to RM419,366 for working capital, and the remaining RM80,000 for expenses of the placement.

After the proposed placement, Green Packet anticipates that its gearing ratio would be lowered to 2.39 times, from 3.44 times as at Dec 31, 2015.

Th e corporate exercise is expect-ed to be completed by the fourth quarter of 2016.

Green Packet shares closed un-changed at 23 sen apiece yesterday, giving it a market capitalisation of RM157.72 million.

Green Packet plans private placement to raise up to RM14.5m

Jan 8

Jan 2

2F

eb 5

Feb 1

9M

arc

h 4

Marc

h 1

8A

pril 1

April 15

April 29

May 1

3M

ay 2

7June 1

0June 2

4July

8July

22

Aug 5

Aug 1

9S

ept 2

Sept 16

Sept 30

Oct 14

(RM mil)

Weekly net flow of foreign fundsinto Malaysian equities

Source: MIDF Research

-1,500

-1,000

-500

0

500

1,000

1,500

2,000

KUALA LUMPUR: Syarikat Takaful Malaysia Bhd (Takaful Malaysia) re-corded a 30% jump in its net profi t to RM44.86 million or 5.47 sen per share for the third quarter end-ed Sept 30, 2016 (3QFY16), from RM34.42 million or 4.21 sen per share a year earlier.

Revenue for the quarter rose 10% to RM426.97 million from RM389.24 million in the previous year.

In a fi ling with Bursa Malaysia yesterday, the group said its better quarterly performance was due to higher sales generated by both the family takaful and general takaful businesses as well as higher waka-lah fee income.

It said family takaful saw gross earned contributions of RM302 mil-

Takaful Malaysia’s 3QFY16 net profi t jumps 30%

lion for the quarter, from RM252.43 million in the previous year, driven by higher sales of mortgage-relat-ed products.

Meanwhile, general takaful saw higher gross earned contributions of RM121.7 million, from RM112.6 million previously, supported by growth in the fire and commer-cial classes.

For the cumulative nine-month period (9MFY16), net profit

climbed 15% to RM137.02 million from RM119.59 million previous-ly, while revenue increased 10% to RM1.52 billion from RM1.34 billion in 9MFY15.

“For 2016, Takaful Malaysia will continue its value proposition of rewarding its customers with a 15% cashback for general takaful prod-ucts, and establish a strong foothold in the local insurance and takaful arena as the preferred choice for insurance.

“Th e successful implementation of core initiatives in operational excellence, technology-driven ca-pabilities, product innovation and performance-oriented culture will enable the company to be ahead of its competitors, increase its overall market share and continuously im-prove shareholder value,” it said.

Total palm oil exports of Ma-laysia and Indonesia contract-ed by a respective 6% and 5% in 9M16 and the first half of 2016, with the latter’s biodiesel pro-gramme resulting in the reten-tion of CPO for local use.

“On a more positive note, the reduction in India’s palm oil im-port duties in late September makes CPO slightly more com-petitive than other edible oils,” it said.

On the introduction of the B10 biodiesel in Malaysia, which was initially expected to be rolled out in June, RAM noted that it re-mains uncertain after concerns surfaced over its potential impact on vehicle engines.

Revenue for the quarter rose 10% to

RM426.97 million from RM389.24 million in

the previous year.

Takaful Malaysia shares closed down two sen or 0.47% at RM4.22 yesterday, with a market capitali-sation of RM3.48 billion.


REUTERS

Budget 2017: Bold tax measures amid challenging timesGovernment is expected to focus on driving domestic business activities, consumption

KUALA LUMPUR: Budget 2017, which will be presented in parlia-ment on Friday, will cover meas-ures to strengthen and move the Malaysian economy forward to face the global slowdown, said Prime Minister Datuk Seri Najib Razak (pic).

Th e government would also fo-cus on industries reeling from the sluggish global economy which had impacted international trade.

“Th us, the planning process for the 2017 Budget has taken several measures to advance the economy with the aim of enhancing peoples’ prosperity in a fair and inclusive manner,” Najib told Dr Tan Seng Giaw (DAP-Kepong) in Dewan Rakyat here yesterday.

Tan asked about the current status of the economy and steps taken to counter the impact of ex-ternal factors.

Najib, who is also the fi nance

minister, said Malaysia recorded a gross domestic product (GDP) growth of 5% in 2015 which far exceeded that of Indonesia (4.8%), Th ailand (2.8%) and South Korea (2.6%).

In fact, Malaysia’s economic growth was far better than the global economic growth of 3.2% registered last year, he added. Th e economy grew 4.1% in the first half of this year and is forecast to register a growth of between 4% and 4.5% this year.

Najib said this year’s GDP growth is forecast to be lower than 2015’s growth of 5% as global eco-nomic momentum had slowed down, while Malaysia’s imports had also decreased.

In addition, weakness in inter-national markets, coupled with

Britain’s exit from Europe and global uncertainties, contribut-ed to lower prices of crude oil, gas, palm oil and minerals.

However, Najib said the gov-ernment is committed to reduce Malaysia’s fi scal defi cit to 3.1% this year from 3.2% in 2015.

“Our commitment to reduce the fi scal defi cit is not an easy task. It requires high fi scal discipline and prudent spending,” Najib said.

Government spending right now is focused on attracting high-impact investments which can enhance the country’s com-petitiveness and spur economic growth in the future.

“It’s clear that government ac-tion, thus far, has succeeded in maintaining economic growth mo-mentum, thanks to strong domes-tic demand, coupled with low in-fl ation and unemployment rates,” Najib added. — Bernama

KUALA LUMPUR: Th e current chal-lenging situation in the local car sector is still “under control” and does not necessitate any special measures to boost sales, said the international trade and industry ministry (Miti).

Its Minister Datuk Seri Mustapa Mohamed said he met with a car manufacturer earlier yesterday and this particular company’s sales went down by 10% for the fi rst half of this year, over the same period last year.

“We hope there will be some growth at the end of the year be-cause the car sector is important for the economy.

“But in a way, the situation is under control and there is no need for special measures to boost car sales,” he told reporters at the in-augural Miti Day 2016 yesterday. — Bernama

Global economic un-certainties and sub-dued oil prices have prompted the gov-ernment to recali-brate Budget 2016.

With the continued slowdown in the global economy, it is expected that the government will focus on driving domestic business activi-ties and consumption. Budget 2017 themed “Accelerating Growth, En-suring Fiscal Prudence, Enhancing Well-being of the People” is hoped to introduce measures that will seek to achieve its intended purposes. As a tax practitioner, I am hoping that the following bold measures will be proposed.

Reducing tax ratesOur corporate tax rate of 24% is one of the highest in Asean. Singa-pore’s stands at 17%, while Thai-land, Vietnam, Cambodia and In-donesia’s (for listed companies) are at 20%. The Indonesian gov-ernment is mulling over reducing the tax rate to 17% with President Joko Widodo commenting: “If Singapore’s corporate income tax rate is 17% and ours is 25%, every-body will go there.” To compete with these countries for foreign direct investment, reducing our corporate income tax rate to 20% to 22% over a three-year period would certainly help.

Likewise, our personal tax rate should also be reviewed. As Ma-

laysia aspires to be the principal hub for multinational companies (MNCs), our highest personal in-come tax rate which stands at 28% (for resident individuals earning more than US$241,000 [RM1.02 million]) may deter MNCs from locating their expatriates in Ma-laysia. In Singapore, the highest personal income tax rate is 22% for resident individuals earning more than US$235,000.

A gradual cut in personal income tax rate to 20% to 22% would help entice more MNCs to relocate their expatriates here. Th ere should not be a signifi cant drop in the gov-ernment’s overall tax revenue as having more high-income expatri-ates as well as local high-net-worth individuals will create spin-offs like demand for property, educa-tion and consumer products. Th e successful goods and services tax implementation and the on-target collection of RM39 billion in 2016 with more revenue going forward should allow our government some room for corporate and personal tax rate cuts.

Extending RA incentiveAt present, the reinvestment al-lowance (RA) incentive in the form of an additional 60% deduction on qualifying capital expenditure is available to companies in the manufacturing and selected agri-culture sectors for 15 consecutive years in expanding, diversifying, automating or modernising their business operations. Th is highly popular incentive was extended for another three years to 2018 so as to encourage reinvestment by

companies that have exhausted their 15-year incentive period.

Th e service sector which current-ly contributes 54% of the nation’s gross domestic product does not enjoy any RA incentive generally. As the country moves up the value chain, some of the services that we hold competitive advantage and have the ability to generate foreign exchange — such as education, healthcare and tourism — should be off ered the RA to encourage these businesses to upscale and upgrade.

Creating regional playersWith the establishment of the Asean Economic Community in 2015 and pending Trans-Pacifi c Partnership agreement, it is imperative that lo-cal businesses take steps to prepare themselves for stiff er competition and to seize the opportunities cre-ated by cross-border trade partner-ships. According to AT Kearney/JWT’s research report, Countdown to 2015: Creating Asean Champi-ons, one such step is to incorporate mergers and acquisitions (M&A) as a core game plan to leapfrog competitors and gain access to new markets and technologies.

In my profession, I have ob-served many MNCs embark on M&A activities as a key inorganic growth strategy to enhance their global competitiveness. At present, our country has too many micro, small- to medium-sized enterpris-es (SMEs) which lack scale and resources to compete. To increase the competitiveness of local com-panies via M&A, the government should incentivise such activities by giving a special tax deduction

on the costs incurred in undertak-ing M&A exercises, such as share acquisition costs, stamp duty and professional fees. Th e stamp duty exemption given for agreements executed to eff ect mergers that has expired on June 2, 2015 should be reintroduced, while the fi ve-year preferential corporate tax rate of 20% granted on taxable income derived by merged SMEs in certain service sectors should be expanded to the manufacturing sector.

Extending group relief to SMEsTh e current group relief rules al-low the profi ts of a company with paid-up capital of more than RM2.5 million to be reduced by losses of another company within the same group, thereby reducing the over-all tax costs. Th e government may consider making available group relief to all companies regardless of the amount of paid-up capital. Th is allows SMEs to channel their cash resources to more profi table activities and enable them to ven-ture into new businesses.

Extending tax amnestyThe finance ministry has imple-mented a tax amnesty programme where tax penalties may be reduced or waived to encourage taxpayers to voluntarily disclose their income and settle tax arrears. Th is programme valid from March 1 to Dec 15 this year is fairly successful with many taxpayers coming forward to declare unreported/under-reported taxes. Indonesia and the Philippines have also introduced such programmes recently to boost revenue.

To encourage greater self-com-

pliance among businesses, this programme can be extended with tax penalties fully waived for vol-untary disclosures.

Building more aff ordable homesWith higher land prices and build-ing costs, developers are fi nding it more and more challenging to build aff ordable homes. Th e gov-ernment may team up with more private developers, providing land for the latter to supply more af-fordable homes. Lowering the entry barrier for house-owning aspirants would be helpful. For instance, the 50% stamp duty ex-emption for loan agreements for residential properties valued up to RM500,000 that will be expired in 2016 can be extended. I would also suggest the lease-and-own scheme practised in some coun-tries like the UK and Australia be considered.

Budget 2017 will be the second budget under the 11th Malaysia Plan which outlines a fi ve-year na-tional strategy towards achieving a high-income advanced econo-my by 2020. No doubt, it will be a challenging task for the govern-ment to formulate measures that will stimulate economic growth and at the same time, balance its books and improve the well-being of the people. Let’s hope for some bold and exciting measures in the upcoming budget.

Th am Lih Jiun is the real estate tax leader of Deloitte Malaysia. The views expressed are solely hers.

BY T H A M L I H J I U N

‘Budget 2017 to strengthen Malaysian economy’ ‘Car sector under control, no special measures required’

Malaysia’s economic growth was far better

than the global economic growth of

3.2% registeredlast year.

ST O C KS W I T H M O M E N T U M 9TUESDAY OCTOBER 18, 2016 • THEED G E FINANCIAL DAILY

GOLDEN LAND BHD (-ve)

GOLDEN LAND BHD Valuation score*Fundamental score**TTM P/E (x)TTM PEG (x)P/NAV (x)TTM Dividend yield (%)Market capitalisation (mil)Shares outstanding (ex-treasury) milBeta12-month price range

2.601.351.830.000.23

20.16139.49216.26

0.610.51-0.68

*Valuation score - Composite measure of historical return & valuation**Fundamental score - Composite measure of balance sheet strength& profitabilityNote: A score of 3.0 is the best to have and 0.0 is the worst to have

SURIA CAPITAL HOLDINGS BHD (-ve)

SURIA CAPITAL HOLDINGS BHD Valuation score*Fundamental score**TTM P/E (x)TTM PEG (x)P/NAV (x)TTM Dividend yield (%)Market capitalisation (mil)Shares outstanding (ex-treasury) milBeta12-month price range

2.002.30

10.33(0.19)

0.613.33

605.19288.18

0.861.85-2.57


HEVEABOARD BHD (+ve)

HEVEABOARD BHD Valuation score*Fundamental score**TTM P/E (x)TTM PEG (x)P/NAV (x)TTM Dividend yield (%)Market capitalisation (mil)Shares outstanding (ex-treasury) milBeta12-month price range

1.803.008.710.111.802.36

690.47493.19

0.941.03-1.69


www.theedgemarkets.com

Stocks with momentum were picked up using a proprietary algorithm by Asia Analytica Data Sdn Bhd and fi rst appeared at www.theedgemarkets.com. Please exercise your own judgement or seek professional advice for your specifi c investment needs. We are not responsible for your investment decisions.

Our shareholders, directors and employees may have positions in any of the stocks mentioned.

P RO P E RT YSHARES in Golden Land Bhd (fundamental: 1.35/3, valuation: 2.6/3) triggered our mo-mentum algorithm for the second time this month as its share price fell 1.5 sen or 2.3% to close at 63 sen, with 1.82 million shares traded. Th is compared with its 200-day av-erage trading volume of 152,793 shares.

Th e company — involved in oil palm cul-tivation and milling saw its net loss widen to RM9.19 million in the fourth quarter ended June 30, 2016 (4QFY16), from RM1.33 million in

4QFY15, as operating expenses surged. Revenue rose 298.2% to RM1.76 million from RM442,000.

For FY16, net profi t jumped 19.78 times to RM76.36 million, from RM3.86 million, due to an exceptional gain on disposal of four wholly-owned subsidiaries and a piece of ag-ricultural land. Revenue, however, fell 31.5% to RM8.88 million from RM12.97 million.

Th e stock currently trades at a trailing 12-month price-earnings ratio of 1.83 times and is at 0.22 times book value.

SHARES in HeveaBoard Bhd (fundamental: 3/3, valuation: 1.8/3) triggered our momen-tum algorithm for the second time this month. Th e counter closed two sen or 1.4% higher at RM1.42 yesterday, with some 15.04 million shares traded. In comparison, its 200-day av-erage trading volume was only 2.65 million.

HeveaBoard posted a net profi t of RM15.16 million in the second quarter ended June 30, 2016, down 5.49% from RM16.04 million a year earlier, due to higher operating expens-

es and income tax. Revenue rose 9.32% to RM121.76 million from RM111.38 million.

For the six-month period ended June 30, 2016, HeveaBoard’s net profi t rose 18.02% to RM35.43 million from RM30.02 million. Revenue grew 17.53% to RM267.68 million from RM227.75 million.

Th e stock currently trades at a trailing 12-month price-earnings ratio of 8.71 times and is at 1.69 times book value. Th e company had net cash of RM105.4 million as at June 30.

SHARES in Suria Capital Holdings Bhd (fun-damental: 2.3/3, valuation: 2/3) triggered our momentum algorithm for the fi rst time since we started tracking. Th e counter closed un-changed at RM2.10 yesterday, with 441,500 shares traded.

Its 200-day average trading volume was 63,819 shares.

Suria Capital’s net profi t dipped 80.89% to RM17.31 million in the second quarter of fi nancial year 2016 (2QFY16), from RM90.59 million a year ago. Revenue plunged 81.32% to RM56.13 million from RM300.47 million. Th e

Sabah port operator explained that the decline in profi t and revenue was mainly attributable to recognition of property development income in the previous year’s corresponding quarter, which is non-recurring in nature.

For the fi rst half of FY16, its net profi t fell 68% to RM33.31 million from RM103.99 mil-lion. Revenue plunged 69.3% to RM111.34 million from RM362.26 million.

The stock currently trades at a trailing 12-month price-earnings ratio of 10.33 times and is at 1.63 times book value. It has a trailing 12-month dividend yield of 3.33%.

Singapore private home sales jump in September, but no recovery seen

Booming commercial property auctions in Britain lift Brexit gloom

Liverpool’s protected landmark Royal Liver Building up for sale

SINGAPORE: Sales of private homes by developers in Singapore jumped nearly 50% in September from a year earlier, aided by low interest rates and price slips, but analysts saw few signs of a recovery in the property market.

Developers sold 509 units last month, up from 341 units in September 2015, data compiled by the Urban Redevelopment Authority (URA) showed yesterday. Th e number of units sold was up 8.8% from 468 units sold in August.

But analysts doubted the jump indi-cates a turnaround as a slowdown in the trade-reliant economy is likely to hurt property demand.

“People are starting to think about the current situation: whether Singapore is ahead of a recessionary environment; whether layoff s could aff ect aff ordabili-

LONDON: Commercial property auctions are proving to be an unlikely bright spot in Britain’s real estate market where a steep drop in sterling has attracted over-seas buyers and local investors who are as yet unfazed by the potential fallout from Brexit.

Britain’s £900 billion (RM4.61 trillion) commercial real estate market was an early victim of the fi nancial market tur-moil that followed Britain’s vote in June to leave the European Union.

Retail investors quickly pulled money out of commercial property funds just af-ter the vote, causing a temporary freeze on £18 billion in assets.

But for commercial property auction-eers who focus on smaller properties rather than trophy assets like London’s skyscrapers or regional shopping malls, it is a diff erent story.

Allsop, Britain’s biggest auctioneer, achieved its biggest sale volume in a decade at a sale on Oct 10. Rival Acui-tus on Oct 13 recorded its largest-ever

LONDON: Liverpool’s 105-year-old Royal Liver Building, part of a trio of protected waterfront landmarks in the northern port city, is to be sold for the fi rst time for an expected £40 million (RM205.07 million).

Opened in 1911 as the headquarters of the Royal Liver Assurance Group with a statue of a mythical Liver bird — the city’s symbol — perched on top of its tall tow-er, the building on River Mersey is one of the “Th ree Graces”, which form a Unesco World Heritage site.

Once the tallest building in Europe, it

BY J O N G W O O C H EO N

BY C A R O LY N C O H N & S I N E A D C R U I S E

BY C O S TA S P I TA S

ty of new homes,” said Christine Li, head of Singapore research for Cushman and Wakefi eld.

Li said investor demand is “volatile” when the economy faces uncertainty.

“It’s purely sentiment-driven. It is not supported by underlying fundamentals, such as rental markets,” she said.

Th e benchmark three-month Singapore interbank off ered rate, used to set interest rates on mortgages, fell to 0.87% earlier this month, the lowest since July 2015.

In January this year, the rate was above 1.25%, its highest since October 2008.

Singapore’s economy unexpectedly shrank in the third quarter from the previ-ous three months, raising expectations that the central bank may ease its policy more.

In the third quarter, private home pric-es fell at the fastest pace in seven years, a URA fl ash estimate showed earlier this month. — Reuters

auction since spinning out of Jones Lang LaSalle in 2010.

Around 500 people attended the All-sop sale at Th e Berkeley, a luxury hotel near London’s Hyde Park, while a further 6,000-odd investors were plugged in by phone or Internet, including overseas buyers, the company said.

One hundred and fifty-four shops, offi ces and industrial properties went under the hammer in less than seven hours, and 11 lots were sold in the hours after the public event. Some properties in the 231-lot catalogue were sold ahead of the auction.

Th e Allsop sale, its second since the ref-erendum, fetched more than £115 million.

Allsop has raised £480 million from fi ve sales this year, nearly 25% more than over the same period in 2015.

“People have asked whether the market might be approaching a peak, but sales like these show we are only just getting out of the blocks”, auctioneer Richard Auterac said, pointing to a steady shift in private investor interest from buy-to-let to commercial real estate. — Reuters

remained the highest in Britain until 1961. Statues of Liverpool’s most famous sons Th e Beatles were unveiled nearby in 2015.

Th e building, which has 330,000 sq ft of offi ce and event space, is home to global fi rms including banking giant HSBC and broadcaster ITV, according to real estate fi rm CBRE, which is selling the site.

“Our clients have been great custo-dians of this building for over 100 years, and this sale presents an extremely rare opportunity to acquire a unique part of Liverpool’s heritage,” the fi rm’s executive director in Manchester Colin Th omasson said. — Reuters

1 0 B R O K E R S’ C A L L TUESDAY OCTOBER 18, 2016 • THEEDGE FINANCIAL DAILY

EcoWorld’s en blocsale seen enhancing BBCC project

Prolexus Bhd(Oct 17, RM1.60)Initiate buy with a fair value of RM1.84: We believe Prolexus Bhd deserves to trade at a premium due to its superior margins and potentially higher profi t growth underpinned by its expansion plans in Vietnam. Prolexus’ fi ve-year price-earnings band ranges from a low of 1.4 times to a high of 13.8 times.

Prolexus is an emerging orig-inal equipment manufacturer sportswear player in Malaysia. Th e group’s core business is in the manufacturing and sales of sportswear. Prolexus has factories in Penang and Johor in Malaysia as well as in China.

We are positive on Prolexus’ ex-pansion plans in Vietnam as this will boost its production capacity to meet the growing demand for premium athletic wear. Th e group would also be able to expand its customer base.

We expect Prolexus to contin-ue benefi ting from increased or-ders from key customers, namely Nike, Under Armour and Asics. We understand that more than 90% of the group’s total sales are attributed to its key customers. About 65% of its sales for the year ended July 31, 2015 (FY15) were from Nike and another 25% were from Under Armour.

Margin enhancement is ex-pected to come from the new knitted fabrics, which are pro-duced in-house instead of being sourced externally. Prolexus will be able to reduce its production

Prolexus’ Vietnam expansion plans to boost its production capacity

Eco World Development Group Bhd(Oct 17, RM1.36)Maintain buy with an unchanged target price (TP) of RM1.49: We are positive on Eco World Development Group Bhd’s (EcoWorld) en bloc sale of retail spaces of its Bukit Bintang City Centre (BBCC) project. Th e sale will not only help lower overall sales risk but also enhance the marketa-bility of BBCC with the presence of a foreign partner — Mitsui Fudosan. With this en bloc sale, EcoWorld may have achieved its internal sales tar-get of RM3 billion for the fi nancial year ending Oct 31, 2016 (FY16). We maintain our earnings forecasts, a TP of RM1.49 and “buy” rating.

EcoWorld, which owns a 40% stake in the BBCC project, has entered into a sale and purchase agreement with a joint-venture (JV) company set up by Mitsui Fudosan (50%), UDA Holdings Bhd (32%), EcoWorld (12%) and the Employees Provident Fund (6%) for the en bloc sale of retail spaces of the BBCC for RM505.8 million (RM472.5 million for the strata space where the retail mall will be and RM33.3 mil-lion for the fully constructed retail podium). Th e JV will construct the retail mall (1.35 million sq ft of gross fl oor area with 2,400 car park bays at its own cost).

We are positive on this latest de-velopment. In our view, the en bloc sale will lower the overall project risk. Also, the presence of Mitsui Fudosan will help enhance market-ability and diff erentiate the BBCC from nearby projects such as Bandar Malaysia and Tun Razak Exchange. To recap, Mitsui Fudosan is the larg-est Japanese real estate conglomer-ate. It currently manages 110 retail

Oil & gas sectorMaintain neutral: In contrast to its previous stance of protecting mar-ket share by pumping more, Opec has indicated in a recent meeting in Algeria that it could cut its oil output to stabilise the oil market. Exact details of the production cut would be clarifi ed in the upcom-ing meeting in Vienna on Nov 30, whereby the amount to be cut by each member country would be decided. We believe our range fore-cast for Brent of between US$50 (RM210.50) to US$60 per barrel would still be valid given that US$60 per barrel would be the estimated break-even for US shale oil.

While any output cut is positive for market sentiment, the proposed cut could be undermined by three main issues: i) three major countries

Prolexus Bhd

FYE JULY (RM MIL) 2016 2017F 2018F 2019F

Revenue 402.7 457.1 519.3 590.5Core net profit 28.2 31.7 36.0 40.9FD core EPS (sen) - 14.6 16.4 18.5FD core EPS growth (%) - - 12.3 12.8DPS (sen) 3.4 3.7 4.2 4.7PER (x) - 10.6 9.4 8.3EV/Ebitda (x) 5.9 4.6 3.9 3.3Dividend yield (%) 2.2 2.3 2.7 3.0ROE (%) 18.1 15.2 15.2 15.3Source: AmInvestment Bank Bhd

properties in Japan and abroad.EcoWorld locked in RM2.2 billion

in property sales in the fi rst 10 months of FY16. Its recent launches worth RM1 billion in gross development value have received strong responses

with an average booking rate of 81%. We have incorporated the en bloc sale into our sales forecast of RM3.1 billion for FY16. Hence, we make no changes to our forecasts. — Maybank IB Research, Oct 14

Eco World Development Group Bhd

FYE OCT (RM MIL) 2014A 2015A 2016E 2017E 2018E

Revenue 148 1,712 3,696 4,763 5,164Ebitda 42 412 605 787 832Core net profit 7 44 135 253 290Core FDEPS (sen) 2.8 2.6 4.6 8.6 9.8Core FDEPS growth (%) (70.4) (6.9) 73.0 87.6 14.7Net DPS (sen) 0.0 0.0 0.5 0.9 1.0Core FD PER (x) 47.3 50.8 29.3 15.6 13.6P/BV (x) 1.0 1.0 0.8 1.0 0.9Net dividend yield (%) 0.0 0.0 0.4 0.6 0.7ROAE (%) 2.2 2.5 3.9 6.4 6.9ROAA (%) 1.2 1.2 1.6 2.3 2.3EV/Ebitda (x) 15.8 8.4 8.3 6.6 6.2Net gearing (%) (incl perps) 60.5 37.5 37.8 30.4 27.1Consensus net profit - - 129 253 277MKE vs consensus (%) - - 4.6 0.0 4.9Source: Maybank IB Research

O&G sector peer comparisons

COMPANY MKT CAP PRICE RECOMMEN TARGET UPSIDE PER (X)

(RM MIL) (RM) -DATION PRICE (%) 2016 2017

SK Petro 9,827 1.64 Hold 1.57 (4.3) 58.1 31.5Bumi Armada 4,048 0.69 Buy 0.85 23.2 20.3 10.5MMHE 1,648 1.03 Sell 0.94 (8.7) 21.0 18.1UMW O&G 1,838 0.85 Sell 0.69 (18.8) (6.5) (23.0)Dayang 855 0.98 Hold 1.11 13.8 975.0 23.6Wah Seong 661 0.86 Buy 1.00 17.0 (37.2) 9.9Scomi Energy 421 0.18 Hold 0.18 - 10.0 (12.0)KNM 874 0.41 Hold 0.43 3.7 20.5 11.2Uzma 486 1.67 Sell 1.39 (16.8) 19.6 10.0PetDag 23,227 23.38 Hold 23.28 (0.4) 26.0 25.9Source: Bloomberg

Local O&G recovery still expected to be slow next yearare exempted — Iran, Nigeria and Libya — of which output increases could off set the proposed cut; ii) Opec oil production is still at an eight-year high at this juncture and a cut of that magnitude might not be suffi cient; and iii) with oil prices rallying, US shale producers could easily ramp up their production within six months due to their short oil investment cycle.

We believe the above-mentioned news would not be suffi cient to im-prove local oil and gas (O&G) service players’ earnings as the anticipated oil price improvement is not ex-pected to lift oil producers’ capital expenditure (capex) signifi cantly, at least in the medium term. Th e only company which would be directly impacted by oil price movement in our coverage universe would be

SapuraKencana Petroleum Bhd. Ac-cording to our sensitivity analysis, an incremental US$10-per-barrel improvement in the Brent oil price

would bring about a 42% increase in our current earnings forecast.

For asset-based players, which are valued using the price-to-book

value method, every 0.1 times in-crease in target multiple would bring a 15% to 30% improvement in our fair values for local O&G companies. As for price-earnings ratio-driven companies, every one times increase would improve our target prices for the companies by 10% to 15%.

We do not believe that the current development would bring about a rerating of the overall industry as capex spending is not expected to improve signifi cantly, while the upstream industry still has to face an asset oversupply overhang for the time being. We still maintain the view that recovery in the indus-try would be slow next year with activities expected to pick up but not suffi cient to change the current fundamentals of the O&G industry. — HLIB Research, Oct 17

costs and improve its net margin. Knitted fabrics are one of the key materials in apparel production.

A portion of knitted fabrics pro-duced by the new mill are envis-aged to be sold to external par-ties. Th is is expected to provide an additional source of revenue for Prolexus in the future.

We estimate Prolexus’ revenue to grow by 14% to RM457 million in FY17, underpinned by strong orders from key clients such as Nike and Under Armour. Prolex-us’ sales growth in FY18 is also anticipated to be aided by external sales of knitted fabrics.

We forecast earnings to rise by 13% from RM32 million in FY17 to RM36 million in FY18, and by 14% to RM41 million in FY19, sup-ported by higher top-line growth. To be conservative, we predict its earnings before interest and tax margin to be fl at at 9.5% in FY17 and FY18, compared with 10% in FY16.

We forecast Prolexus’ gross div-idend per share at 3.7 sen in FY17, which implies a yield of 2.3%. Pro-lexus’ balance sheet is anticipated to remain healthy in spite of the capacity expansion plan. — AmIn-vestment Bank, Oct 17

We estimate Prolexus’ revenue to grow by 14% to RM457 million in

FY17.

An artist’s impression of the BBCC.

1 2 B R O K E R S’ C A L L TUESDAY OCTOBER 18, 2016 • THEEDGE FINANCIAL DAILY

Mega First’s Don Sahong hydropower project on trackMega First Corp Bhd(Oct 17, RM1.98)Maintain outperform call with a higher target price (TP) of RM3.16: We recently had a meeting with Mega First Corp Bhd’s management to fol-low up on the US$500 million (RM2 billion) Don Sahong hydropower project in Laos. It has been progress-ing well and management is confi -dent that it will be completed before the deadline.

We are now imputing the dis-counted cash fl ow (DCF)-based val-ue (weighted average cost of capital [WACC]: 10%, internal rate of return: 16% to 17%) from the hydropower project into our sum-of-parts-based valuations, though with a 30% dis-count as we err on conservatism. Our TP is consequently bumped up from RM 2.29 to RM3.16.

Th e Don Sahong hydropower pro-ject has been on track, reaching 10% completion as of August 2016. About RM290 million has been invested for the excavation and foundation works. Th e next stage will be the installation of a powerhouse and turbines, be-fore the commissioning and testing in 2019. Th e deadline to complete the project is Dec 31, 2019, while its commercial operation is scheduled to take place in early 2020.

We believe Mega First’s share price would move in tandem with the progress of the Don Sahong hy-

Mega First Corp Bhd

FYE DEC (RM MIL) 2014A 2015A 2016F 2017F 2018F CAGR (%)

Revenue 672.4 588.7 544.8 569.1 593.9 -3.1Gross profit 188.5 155.2 141.7 153.7 166.3 -3.1Pre-tax profit 153.0 147.5 122.4 127.7 131.5 -3.7Core net profit 57.3 51.8 49.2 51.3 52.8 -2.0EPS (sen) 15.0 13.6 12.9 13.4 13.8 -2.0PER (x) 13.1 14.5 15.3 14.7 14.2 -DPS (sen) 8.0 8.0 8.0 8.0 8.0 -Dividend yield (%) 4.1 4.1 4.1 4.1 4.1 -Source: Company, PublicInvest Research estimates

dropower project, which will be the key growth driver over the next three years. Apart from expecting a more than threefold jump in earnings, it will also help ease the concerns of losing the coal-fi red power conces-sion in China by 2022, which cur-rently contributes more than 70% of group revenue.

The limestone business is cur-rently undergoing its phase 2 capac-ity expansion, which will ramp up

its total capacity from 1,160 million tonnes per day (mt/day) to 1,460 mt/day by the fi rst quarter of fi nan-cial year 2017. It currently runs at a utilisation rate of 77% every month. Management foresees a more com-petitive environment, but believes the better cost advantage in terms of geographical location that it has would make itself stand out in the local market.

Upon the full commercial oper-ation of the hydropower plant, we forecast that the Don Sahong hydro-power could contribute as much as RM4.43 a share (WACC: 7%) based on our DCF valuation. As of now, we apply a higher WACC of 10% coupled with a 30% discount for the risk expo-sure during the construction period, which yields a valuation of RM2.26/share. — PublicInvest Research, Oct 17

Berjaya Sports Toto Bhd(Oct 17, RM3.16)Downgrade to sell with a target price (TP) of RM2.88: We believe that the outlook for the Malaysia lottery operation Berjaya Sports Toto Bhd (BToto) remains challenging, as the prize payout for the traditional 4D game is signifi cantly lower than the illegal operators. We are assum-ing the drop in revenue to stabilise at -0.5% a year.

Our current dividend discount model (DDM)-based (growth rate of 1%, cost of equity of 7.6%, div-idend per share [DPS] of 19 sen) TP of RM2.88 implies 13.3 times fi -nancial year 2017 estimate (FY17E) price-earnings ratio (PER) and 6.5% FY17E dividend yield. If there is a re-version to mean, the fair value of the stock could be RM2.26 to RM2.98, which implies 7% to 29% downside from the current share price.

We revised our DDM-based TP to RM2.88 (from RM3.20), which is based on FY18E DPS of 19 sen on a discount rate of 7.60% with a ter-minal growth rate of 1%, implying a 10% downside from the current share price, hence prompting us

Agriculture sectorMaintain neutral: We were both speaker and attendee at the sixth edition of the Malaysian Palm Oil Trade Fair and Seminar (POTS KL), one of the palm oil industry’s fl ag-ship events, held at the Shangri-La Hotel, Kuala Lumpur last Wednesday and Th ursday. Th is year’s event, with the theme “Overcoming Challenges, Maximising Profi ts”, attracted around 500 participants.

Five speakers at POTS KL pre-dicted the crude palm oil (CPO) price could trade in the RM2,200 to RM3,000 per tonne range in the fourth quarter of 2016 (4Q16) to 2017. Among the three most widely fol-lowed speakers for price outlook at the event, Th omas Mielke had the most bullish price forecasts, project-ing Bursa Malaysia Derivatives CPO futures rising to RM2,900 to RM3,000 per tonne either in 4Q16 or early 2017, while Dorab Mistry had the lowest CPO price forecast of RM2,200 per tonne by December 2016.

Dr James Fry from LMC projects CPO price (free on board [fob]) eas-ing to US$625 to US$650 per tonne or RM2,474 to RM2,560 in November to December 2016 (based on RM/US$1 of 4.19), before rising briefl y in January to February 2017, as industry stocks fall due to lower monthly production on a seasonal basis. He expects CPO price (fob) to fall to US$550 per tonne in the second half of 2017 (2H17), due to surging palm oil output and stocks as the El Nino impact vanishes.

Mielke and Ling Ah Hong project that Malaysian palm oil supply for 2016 will fall by about 10% to 17.8 mil-lion tonnes and 17.9 million tonnes respectively, in line with our palm oil supply forecast for Malaysia in 2016 of 17.9 million tonnes. Speakers pre-dict that Indonesian output may have fallen by between one million and

three million tonnes (or 3% to 9%) in 2016 due to the El Nino impact. Th is is positive for CPO prices as it would lead to tighter supply

Speakers who provided 2H17 price views concur that CPO prices are likely to weaken in 2H17 as palm oil supply recovers more meaningfully from the El Nino impact. Th e expert speakers predict global CPO output rising 5.5 million to 6.5 million tonnes (or 9 to 9.5%) in 2016/2017 versus the predic-tion of a three million to six million tonnes drop in 2015/2016 global palm oil supply. Note that the average annual rise in global palm oil supply over the past fi ve years was 3.3 million tonnes.

We concur with the speakers’ views that the size of the global palm oil supply will sway the direction of CPO prices. We diff er from some of the speakers in terms of when the market will start pricing in the pro-jected huge recovery in palm oil sup-ply in 2H17. We maintain our view for CPO prices to trade in the range of RM2,400 to RM2,800 per tonne in the near term. CPO prices could improve in 1H17 before giving up all the gains in 2H17.

We keep our “neutral” call on the regional planters. Our top picks are First Resources Ltd, PT Astra Agro Lestari Tbk and Genting Plantations Bhd. — CIMB Equity Research, Oct 15

BToto’s outlook remains challenging

Bearish views on 2H17 CPO price at POTS KL

Berjaya Sports Toto Bhd

FYE APR 30 (RM MIL) 2015 2016 2017E 2018E 2019E

Revenue 5,283.6 5,563.2 5,770.4 6,005.1 6,132.7Ebitda 558.6 496.4 529.6 534.8 540.3Pre-tax profit 534.0 445.7 462.1 468.8 475.5Net profit 361.6 308.6 320.0 324.6 329.3EPS (sen) 26.8 22.8 23.7 24.0 24.4PER (x) 12.0 14.0 13.5 13.3 13.1Core net profit 361.6 308.6 320.0 324.6 329.3Core EPS (sen) 26.8 22.8 23.7 24.0 24.4Core EPS growth (%) 10.0 (14.6) 3.7 1.4 1.4Core PER (x) 12.0 14.0 13.5 13.3 13.1Net DPS (sen) 21.5 19.0 19.0 19.0 19.5Dividend yield (%) 6.7 5.9 5.9 5.9 6.1EV/Ebitda (x) 8.2 9.3 8.6 8.3 8.1Chg in EPS (%) - - 10.3 10.2 10.1Affin/Consensus (x) - - 0.98 0.96 0.95Source: Company, Affin Hwang estimates, Bloomberg

to downgrade our call on the stock from “hold” to “sell”. We use a DDM-based methodology, as it is in line with most investors’ view of BToto as a dividend yield stock.

Th e stock valuation is rich when compared with its historical trading averages, as the stock is now trading at +1 standard deviation (SD) above (13 times) its historical mean for PER (11.5 times), and -1 SD (10-year: 6.7%, fi ve-year: 6.2%) its historical mean for dividend yield (10-year:

7.9%, fi ve-year: 7.2%), for both fi ve- and 10- year tenures.

While some might suggest that the rally in share price was sup-ported by investors seeking higher yield alternatives in the current low bond yield environment, we think the impact on BToto might have been overdone. Th e spread between BToto dividend yield and Malaysian government securities 10-year bond yield is currently at a 10-year low, but the risk profile for BToto has

remained relatively unchanged [if not worse] over the years, while the DPS (including share dividend at its book value) has also peaked, based on our estimates.

Our net profi t forecast for FY16E to FY18E is 2.9% to 4.8% below con-sensus estimates, as we are relatively

more bearish about the outlook of the company. Our DPS payout as-sumption is at 80%, lower than the consensus average of 85%. Hence, it is fair to assume we had one of the lowest TP forecasts among con-sensus too. — Affi n Hwang Capital Research, Oct 17

The next stage will be the installation

of a powerhouse and turbines, before the commissioning and

testing in 2019.

A fi lepic of a Sports Toto outlet. The spread between BToto dividend yield and Malaysian government securities 10-year bond yield is currently at a 10-year low.

H O M E 1 3TUESDAY OCTOBER 18, 2016 • THEED G E FINANCIAL DAILY

Court rules witness’ testimony in Morais murder trial inadmissible

South China Sea issue should be handled via dialogue Any action that risks peace, stability, causing fear, doubt, must be avoided — Najib

KUALA LUMPUR: Malaysia takes the stand that diff erences and con-fl icts, including on the issue of the South China Sea, should be tackled via dialogues and consultations, said Prime Minister Datuk Seri Na-jib Razak.

Najib said this is because the is-sue involves two major aspects, in-cluding the need to ensure peace, security and stability as well as the freedom of sailing or fl ying, as well as overlapping claims involving sev-eral countries, namely Brunei, the Philippines, Malaysia, Vietnam and China.

“Malaysia’s stand on the South China Sea [issue] is clear and con-sistent. All nations must ensure

peace and stability. Any action that could jeopardise peace and stability, causing fear and doubt, as well as being provocative in nature must be avoided,” he said at the Dewan Rakyat sitting here yesterday.

He was replying to a question from Datuk Hasan Arifi n (BN-Romp-in) who wanted to know the move taken by Malaysia on the Chinese population in the Spratly Islands in the South China Sea and whether there was an agreement with the US and Australia on the matter.

Najib said the issue of the over-lapping claims in the South China Sea must be resolved peacefully, with all the claims and settlements made based on international law,

including the UN Convention on the Law of the Sea 1982.

In handling the South China Sea issue, Najib said the government always emphasised national inter-est as the main basis for all actions taken.

He pointed out that there was no agreement made with any nation, including the US and Australia, on the issue.

With regard to the issue of inhab-iting, reclamation and construction activities carried out by China, in-cluding the construction of an air-fi eld in the Fiery Cross Reef, Najib said the issue did not involve Ma-laysian maritime areas.

Najib said diff erences of opinion

with China on the South China Sea issue should not hinder economic and business ties as well as other matters, including defence.

Th is is because China is Malay-sia’s biggest trading partner as well as a very important source of invest-ment and tourism for the country, he said.

Responding to a supplementary question from Hasan on whether Malaysia is too dependent on Chi-na, which could be misinterpreted by other major powers, Najib said Malaysia had maintained good re-lations with all countries.

“Th e fact is that China’s economy is the largest in the world,” he said. — Bernama

KUALA LUMPUR: Th e High Court here has ruled that the testimony of the 37th witness in the murder trial of deputy public prosecutor Datuk Anthony Kevin Morais was inad-missible.

Justice Datuk Azman Abdullah made the decision after allowing an application by the prosecution to challenge the testimony by the witness, S Yogeswari, 37, a seam-stress, who testifi ed on the 25th day of hearing of the murder case.

“I allow the prosecution to chal-lenge the witness’ testimony. As such, the testimony by the witness will not be taken into account in this hear-ing,” he said at the start of the trial proceeding, which entered its 28th day yesterday.

On Sept 28, the court ruled that the testimony by Yogeswari, the

owner of a four-wheel drive vehicle, which was used to ram into Kevin Morais’s car, contradicted the po-lice report made by operations of-fi cer of the Criminal Investigation Department at the Kulim District police headquarters, Inspector M Vasu, on Sept 27, 2015.

Following this, Azman asked Yo-geswari to explain the matter in an impeachment proceeding to chal-lenge her testimony and ordered Vasu, who is the 36th prosecution witness, to be called back to testify.

On Sept 30, Yogeswari was charged in a magistrate’s court with giving false evidence in the murder trial.

She was charged with giving false evidence when testifying before Az-man at the Jalan Duta Court Com-plex here on Sept 27.

Th is refers to Yogeswari’s tes-timony on her Mitsubishi Triton four-wheel drive vehicle, with the registration number PEP 1135, that was alleged to have been used to ram into Kevin Morais’s car.

In her testimony, Yogeswari told the court that the vehicle was with her every night from Aug 2 to Sept 11, 2015.

Her testimony contradicted the evidence provided by Vasu that the vehicle was not with her, but with a man by the name of Selvam during that period.

Yogeswari was charged under Section 193 of the Penal Code and she faces a jail term of up to sev-en years, and is liable to a fi ne, if found guilty.

The hearing continues today. — Bernama

AERIAL PRECISION ... Britain’s Royal Air Force aerobatic team, The Red Arrows, one of the world’s premier aerobatic display teams, performing an impressive aerobatic display at Epsom College in Nilai, Negeri Sembilan yesterday. The team is currently on tour to 20 locations in the Middle East and Asia-Pacifi c including Malaysia. Photo by Bernama

KUALA LUMPUR: Higher Educa-tion Minister Datuk Seri Idris Jusoh said the cost of education in Malay-sia is almost free as the government provides various types of assistance to students, while fees at public universities are still low compared with those in other countries.

“For example, the cost for each medical student annually is about RM60,000, but only 5% is borne by the students,” he said in parliament yesterday when replying Datuk Seri Wan Azizah Wan Ismail (PKR-Per-matang Pauh) on whether the gov-ernment plans to review academic fees charged by public universities to reduce the burden on students.

In fact, students receive various forms of educational assistance, including those from the Nation-al Higher Education Fund Corp, which fi nances over 200,000 stu-dents, and aid from the Public Ser-vice Department.

Idris said there are diff erences in academic fees imposed by public universities because the charges are determined by the respective administrators.

“Public universities awarded with an autonomous status can de-termine academic fees. However, I have directed all universities not to raise fees for undergraduates. I notice there is no rise in fees,” he added.

In another development, a com-motion broke out when Normala Abdul Samad (BN-Pasir Gudang) was questioned why Universiti Se-langor does not provide free edu-cation to its students.

However, Dewan Rakyat Speak-er Tan Sri Pandikar Amin Mulia urged members of parliament from the government and opposition to keep calm and continued the ses-sion. — Bernama

Sabah Water Dept director, deputy suspended from job KOTA KINABALU: Th e direc-tor and deputy director of the Sabah Water Department have been suspended from work, according to Sabah State Sec-retary Tan Sri Sukarti Wakiman. Th e duo were earlier held by the Malaysian Anti-Corrup-tion Commission to facilitate investigations into a power abuse and corruption case involving infrastructure pro-jects worth RM3.3 billion but have since been released on bail. Th e director was released from remand on Sunday on a RM500,000 undeposited bail with two sureties, while the deputy director was released on RM500,000 bail with sure-ties at about 10am. — Bernama

Mohammad Anuar again charged for previous rallyIPOH: Perak PKR organising secretary Mohammad Anuar Zakaria was charged a second time in the Sessions Court here yesterday with organising an il-legal assembly three years ago. However, he pleaded not guilty to the charge after it was read out before Justice Ikmal Hishan Mohd Tajuddin. Mohammad Anuar, 49, former Perak PKR secretary was charged under Section 9(1) of the Peaceful As-sembly Act 2012 for failing to provide a 10-day notice to the Ipoh District police chief on a rally. Th e judge set Nov 18 for mention and released Moham-mad Anuar on a bail of RM8,000 with one surety. — Bernama

Idris Jusoh: Practisefl exible learningPETALING JAYA: Malaysians are encouraged to take the op-portunity to practise flexible learning to improve the edu-cation system in the country, said Higher Education Minister Datuk Seri Idris Jusoh. He said the fl exible education could be through face-to-face learning, online learning, massive open online courses and experien-tial learning in the workplace. “Flexible education is seen as a broad container that focuses on off ering education anytime, anywhere, to anyone,” he said when opening the 2016 MQA & IQA International Seminar on Quality Assurance of High-er Education, here yesterday. — Bernama

Shafi e’s new outfi t named Parti Warisan SabahPUTRAJAYA: Former Umno vice president Datuk Seri Mohd Shafi e Apdal announced that the new party he helms is named Parti Warisan Sabah (Warisan), replacing Parti Pem-bangunan Warisan Sabah, es-tablished in 2013. Approval for the new name and logo of the party taken over on Sept 22 was obtained from the Registrar of Societies (RoS) last Th ursday, he said when met by reporters at the RoS offi ce, here yester-day, to make minor amend-ments to the party’s constitu-tion. — Bernama

I N BR I E F

Idris: Cost of public education almost free

1 4 H O M E TUESDAY OCTOBER 18, 2016 • THEEDGE FINANCIAL DAILY

GEORGE TOWN: The tourism and culture ministry wants all guest house and lodging entre-preneurs to seek the local au-thority’s permission before they turn their private property into commercial dwellings.

Its Minister Datuk Seri Mo-hamed Nazri Abdul Aziz said it is important for them (private property owners) to comply with local rules and regulations to en-sure the safety of their guests.

He said such entrepreneurs could not be exempted from the rules and regulations.

“We advise them to comply with the local government’s require-

ments as the safety of their guests is of utmost importance,” he said after opening the 4th World Tour-ism Conference here yesterday.

It was reported earlier that Penang had close to 200 unlicensed guest houses, including top-rated lodgings on websites such as Tri-pAdvisor and Booking.com.

However, UN World Tourism Organisation secretary-gener-al Taleb Rifai, who attended the opening, said that unlicensed guest house operators should comply with rules and regulations in or-der to ensure a level playing fi eld and meet the industry’s minimum standards. — Bernama

KUALA LUMPUR: Th e Sessions Court here has set fi ve days be-ginning Jan 23 next year to hear the case of an obstetrician and gynaecologist charged with caus-ing the death of Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi’s son-in-law dur-ing a dental treatment.

Judge Zaman Mohd Noor fi xed the dates after allowing an applica-tion by the prosecution, conducted by deputy public prosecutor Shu-kor Abu Bakar, who requested for

a new hearing date as he needed time to prepare the documents for use in the trial. Lawyer Dev Kumar-aendran, representing Dr Ting Teck Chin, 36, confi rmed the matter and did not object. Th e court also set Nov 11 for case management and submission of documents.

On Aug 12, 2016, Dr Ting, a part-time anaesthetist at the Imperial Dental Specialist Centre, pleaded not guilty to the charge of causing the death of Datuk Syed Alman Zain Syed Alwi, 44. — Bernama

Get local government nod, Nazri tells lodging entrepreneurs

Doctor’s trial for causing death during dental treatment to begin on Jan 23

Under NSC Act, King’s power to declare emergency untouchedPM’s declaration is only for ‘an area or certain areas’ — AG

BANGI: The National Security Council (NSC) Act 2016 does not take away the power of the Yang di-Pertuan Agong to declare an emergency as the King holds the power to make that order at the na-tional level, Attorney-General (AG) Tan Sri Mohamed Apandi Ali said.

Commenting on the distinction under the Act, Mohamed Apandi said the prime minister (PM) is only empowered to declare an emergency for “an area or cer-tain areas”.

He said, however, the monarch does not have the discretion to de-clare an emergency on his own but must act on the advice of the government.

“It is not like if you intend to declare [an emergency], then you can declare it [of your own accord]. Here, the King must act on the ad-vice [of the government]. Th at is

very important,” he told reporters after delivering a talk at the Judicial and Legal Training Institute here yesterday.

Th e NSC Act 2016, which allows the government to hold emergen-cy powers, came into force on Aug 1 this year.

Mohamed Apandi said, just like the King, the PM too could not ar-bitrarily declare an emergency of his own accord.

“He (the PM) will act on the ad-vice of the council, which consists of various parties who are involved in the security of the country. Th e PM will act according to the advice given,” he said.

These parties include the in-spector-general of police, chief of the armed forces and chief secre-tary to the government, he added.

Under an emergency order by the PM, Mohamed Apandi said par-liament would never be suspended and would still be in session.

“Under the Act, the declaration, which will last for six months, must be tabled within a few weeks in parliament.”

Th e AG stressed that the NSC Act was made for the protection of the country to ensure that security is maintained at all times and that security forces could act speedily. — Bernama

Under the Act, the declaration, which will

last for six months, must be tabled

within a few weeks in parliament.

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C O M M E N T 1 5TUESDAY OCTOBER 18, 2016 • THEED G E FINANCIAL DAILY

Resolving Europe’s banking crisis in Italy

There is good news when it comes to China’s scary and still-growing pile of debt: At least the government rec-ognises the problem.

Its attempts to mitigate those risks, however, seem doomed to fall short.

The government’s recent deci-sion to create a market for credit default swaps (CDS) is a case in point. The idea, as elsewhere, is to give banks and investors a means of pricing and trading the risk of Chinese companies defaulting on their debts. The need is obvious: official measures of non-perform-ing loans are worsening, while un-official estimates say their share may have reached anywhere from 8% to 20%. Anything that spreads that risk should improve financial stability.

Yet, as envisioned, this new CDS market is unlikely to do much to im-prove the situation. For one thing, all but the largest companies al-ready have to purchase credit in-surance when taking out loans from

China’s bad creditAttempts to mitigate risks seem doomed to fall short

BY LU C R E Z I A R E I C H L I N

& S H A H I N VA L L É E

BY C H R I S TO P H E R

B A L D I N G

giant state banks. Th ere is no pric-ing diff erential on this insurance, of course. But for the new system to function eff ectively, the govern-ment would have to let markets freely set the price of credit risk.

China does not exactly have a stellar record of allowing markets to set prices in any fi eld, whether in stocks, real estate or currencies. If credit default swaps started to indicate a rising risk of default at a major state-owned company, it is hard to imagine offi cials would not intervene to reverse that im-pression.

Th is is dangerous on multiple levels. Already, several Chinese credit insurance fi rms have col-lapsed because they underestimat-ed credit risk, forcing government bailouts. Continuing to under-price risk will only encourage the over-al-location of credit that has got China into trouble thus far.

Th ere is also little reason to think

that creating a CDS market would shift risk away from the most vul-nerable banks. In a heavily concen-trated banking and lending market such as China, where major fi nan-cial institutions all trade with each other, swaps are likely to produce no net change to risk levels.

Th ink of a simple example. As-sume that Bank A has loans total-ling 100 billion yuan but wants to protect itself against the risk of de-fault by buying a CDS from Bank B that covers these companies. Now assume that Bank B does the same to cover its 100 billion yuan of loans, with A as the counter-party. If we assume these are similar baskets of loans — a reasonable assumption for major banks within a single country — then there has been no net change in credit risk for either bank. All they have done is swap credit risk, convinced that as out-siders, they can assess the health of loans better than the loan offi cers involved.

Finally, unless major outside investors enter the market to re-lieve the burden on China’s banks, risks will remain concentrated. The likelihood of such an influx is slim; foreign investors are the ones most concerned about the

explosion in Chinese credit. Even the Bank for International Settle-ments and International Mone-tary Fund, neither of which can be described as anti-China scare-mongers, have raised major con-cerns about the blistering pace of credit growth.

Given outsiders’ inability to in-vest at truly market-dictated prices — or to repatriate earnings at will or, at least, in suffi cient quantity to fundamentally alter their risk cal-culations — there is little reason to believe they are going to assume the liability for China’s credit bubble.

If China wants to avoid symbol-ic gestures, there are better ways to address credit worries. Despite the unveiling of its much antici-pated debt for equity programme last week, neither banks nor fi rms seem anxious to participate. As one banker noted, “If you are a good company, you would not want to give banks any of your shares. And if you are a bad company, we would not want any of your shares.”

Shifting risks between the same group of banks and related fi nan-cial institutions is not going to solve this problem. Banking regulators need to press actual deleveraging and what are expected to be sig-

nifi cant recapitalisations. China should also introduce

stricter rules on financial trans-parency, to produce higher-quality information for listed fi rms. Even though offi cial data for major banks indicates non-performing loans are only about 1.5% of the total, bank stocks are being priced as if all their equity will be required to cover loan losses. Since investors have no faith in the data, they latch onto worst-case scenarios, which itself creates greater risk.

None of this is to say that China is wrong to introduce credit default swaps. But, given the way the gov-ernment has interfered in other markets, not to mention other ex-isting hurdles, the new system is unlikely to improve credit alloca-tion as dramatically as is needed. At some point, China will have to learn that simply creating an asset to trade does not make a market. — Bloomberg

Christopher Balding is an associate professor of business and econom-ics at the HSBC Business School in Shenzhen and author of Sovereign Wealth Funds: Th e New Intersec-tion of Money and Power.

THE European banking sector is crippled and highly fragmented. Th ough its problems are more acute for some countries and fi nancial institutions, the sector runs on a level of profi tability that is, on av-erage, lower than its cost of equity and maintains a stock of non-per-forming loans and hard-to-value assets large enough to undermine its capitalisation for years to come.

Italy is a case in point. Not only is its dysfunctional banking sector undermining economic recovery and inhibiting investment; the sec-tor’s troubles are the sharp end of a problem that aff ects the entire eurozone.

By the spring of 2012, it had become clear that the European banking system was a critical weak point in the euro’s architecture. Common banking supervision, a centralised resolution framework, and a mutualised deposit-guaran-tee scheme were understood to be necessary pillars of the eurozone. It was thought that these measures would help in the short term to ac-celerate bank repair, and that they would end financial fragmenta-tion, establish a level playing fi eld, reduce the risk of future banking crises, and ultimately contain and share the costs of banking failures.

But the road to hell is paved with good intentions. Th e Euro-pean banking union, in its current

state, is not only incomplete; its de-sign fl aws have made it a source of inaction and instability potentially worse than the ills it was intended to cure.

Th e deposit-guarantee scheme, for example, shows no sign of pro-gress, and the debates on the single resolution fund and its lack of a public backstop to deal with large-scale banking distress are going nowhere. Finally, the bail-in rules were introduced before banks could issue enough bail-in-able debt.

Th ese sequencing issues can and should be addressed over time. But there are far more troubling prob-lems with the conceptual founda-tion of the banking union itself, in particular with its resolution framework.

Since 2007, EU countries have provided in excess of €675 billion (RM3.13 trillion) in capital and re-payable loans and €1.3 trillion in guarantees to fi nancial institutions in distress, so the desire to limit bailouts is understandable. Th is concern is all the more legitimate, given that bailouts have often ham-pered restructuring, resolution, and consolidation to preserve existing banking interests and practices, thereby delaying the necessary re-pair of balance sheets and zombify-ing the European banking system.

To be sure, international expe-rience shows that public resources are sometimes necessary to min-imise costs and hasten consoli-dation. But the logic of isolated

intervention ignores the intercon-nectedness of the system, whereby distress in one large institution of-ten creates spillover eff ects that feed destabilising system-wide runs. Th at is why successful interven-tions in Spain and Ireland were comprehensive and required large amounts of national and European resources to establish a “bad bank” and ensure a system-wide subse-quent triage of assets, recapitalisa-tion, and consolidation.

Although these programmes’ comprehensive nature explains their success, neither the Banking Recovery and Resolution Directive nor the Single Resolution Board (SRB) are designed to put in place such systemic responses. In fact, the SRB even lacks the executive au-thority to implement its decisions, which are carried out by national authorities. It also lacks the abili-ty to ensure that bank resolutions are accompanied by the necessary preventive steps in the rest of the banking system.

In short, the European banking resolution framework has confi scat-ed the tools for intervention from national authorities (which was the right thing to do), without recreat-ing them at the European level. As a result, neither national govern-ments nor European authorities are empowered to act.

Th is leaves the Italian authorities with a limited set of options. A uni-lateral blanket bailout would stress the banking union, stretch public

fi nances, and leave the Italian bank-ing system with its structural weak-ness. Alternatively, they could also maintain the current piecemeal approach, which has essentially committed small amounts of public resources and forced the stronger banks to support the weaker ones. But this strategy cannot work for large institutions.

A third option would be to con-front the European banking un-ion’s shortcomings by setting out a comprehensive plan to restruc-ture, recapitalise, and consolidate the Italian banking system, thereby ending decades of poor governance and bad supervisory practices.

Th is new approach would re-quire, fi rst, a substantial increase in the size of Atlante, the fund set up to recapitalise some of the weaker Italian banks, to enable it to play the standard role of asset triage of a “bad bank” for the entire banking sector. Th e need for further Italian public resources could be accept-able if the European Commission’s competition authority were to play a role in the governance of Atlante.

Second, once freed of their non-performing loans, banks would need to undertake precautionary recapitalisations, including the bail-in of subordinated bondholders and the immediate compensation of retail investors. Th en, all banks should be given a tight schedule to raise capital privately, in accord-ance with the single supervisor’s instructions, to levels that create

a suffi cient buff er to ensure their viability; banks that fail to meet this schedule should be resolved.

Finally, and most important, deep reforms should be under-taken to facilitate a real shift in banks’ business models in order to restore their profi tability. Such reforms should include dedicat-ed redundancy schemes for bank employees (to facilitate consoli-dation), an overhaul of solvency law and court procedures (to re-dress repossession delays), and profound changes in corporate governance, particularly in the cooperative banking system.

European authorities are unable to design such a plan, owing to the banking union’s fragmented and incomplete competencies. It is up to Italy to break the vicious cycle of inaction and take the bold steps needed to repair Italian banks (and avert a real crisis), which would also provide a blueprint for redressing the inadequacies of the European resolution framework. Italy needs to show that one can be both a fi refi ghter and a builder. — Project Syndicate

Lucrezia Reichlin, a former director of research at the European Central Bank, is professor of economics at the London Business School. Shahin Vallée, a former economic adviser to the French Minister of Economy, is a senior economist at Soros Fund Management.

New CDS market is unlikely to do much to improve the situation.

1 8 W O R L D B U S I N E S S TUESDAY OCTOBER 18, 2016 • THEEDGE FINANCIAL DAILY

I N BR I E F‘Wanda to unveil production subsidy at Hollywood event’Subsidy will be jointly funded with Qingdao government — source

BY L I S A R I C H W I N E

LOS ANGELES: China’s Dalian Wanda Group plans to unveil a subsidy scheme to attract Holly-wood fi lm-makers to its new multi-billion-dollar studio in the eastern Chinese city of Qingdao, a person with direct knowledge of the plan said.

The chairman of the proper-ty-to-entertainment conglomer-ate, Wang Jianlin, is expected to unveil the scheme, which off ers to subsidise 40% of production costs, at an event hosted in Los Angeles yesterday evening.

Th e subsidy will be jointly funded with the local Qingdao government, said the person, who asked not to be identifi ed.

Th e subsidy will apply to feature fi lms and television shows. Costs eli-gible for the rebate include stage and equipment rentals, set construction and local accommodation.

A Wanda spokesman declined to comment.

A Qingdao government spokes-man said he was not familiar with the plans.

Wanda’s billionaire chairman is building a footprint in Hollywood through a series of deals, part of

China’s growing investment in the US entertainment industry.

Th e company has bought “Ju-rassic World” producer Legendary Entertainment and US cinema chain AMC Entertainment Holdings. Wan-da also signed a marketing and co-fi -nancing deal with Sony Pictures, a unit of Japan’s Sony Corp.

With the Qingdao studio, Wanda will be competing with dozens of US states and countries, including Britain and New Zealand that have lured fi lm-makers out of Hollywood with tax incentives and rebates.

Incentives typically range from 15% to 45% of certain production

costs, according to tax incentive specialists, making Wanda’s subsidy among the world’s highest.

Th e Qingdao studio is part of a large theme park and real estate development designed to become a Chinese version of Hollywood. Th e studio will attract at least fi ve fi lms a year with production budgets of more than US$100 million (RM421 million), alongside smaller Chinese productions, Wang told Reuters in August.

Two of the conglomerate’s key listed units are Dalian Wanda Com-mercial Properties and Wanda Cin-ema Line Corp. — Reuters

BY D O M I N I Q U E PAT TO N

BEIJING: Sinochem International Corp, a unit of state-owned Sino-chem Group, said yesterday it has received no information regard-ing a proposed merger of its parent company with rival China National Chemicals Corp (ChemChina).

The two state-owned chemi-cal companies are in discussions about a possible merger to create a chemicals, fertiliser and oil giant with almost US$100 billion (RM421 billion) in annual revenue, three sources familiar with the matter told Reuters last week.

“Until now, [neither] this com-pany’s controlling company and controlling shareholder Sinochem

No knowledge of merger with ChemChina, says Sinochem unit

Group nor this fi rm have received any written or oral information from any relevant government department about this rumour,” said Sinochem International in a statement to the Shanghai stock exchange.

Sinochem International trades and distributes rubber, fi ne chemi-cals, agrochemicals and other prod-ucts. Its shares soared 10% on news of the merger talks last week.

The company added that nei-ther it nor Sinochem Group had expressed such an intention to any government department.

“This company currently has no information that should have been disclosed that has not been disclosed,” it added.

Th e merger has been proposed by China’s central government as part of its eff orts to slash the number of state-owned companies and create larger, more competitive global in-dustry players, sources said.

Top management of the two fi rms are said to have held a meeting last week to discuss the potential merg-er and both fi rms have started due diligence work looking into each other’s fi nancial details and business segments, sources said.

Th e talks come as ChemChina fi nalises a US$43 billion takeover of Swiss pesticides and seed group Syngenta. Th at deal would be Chi-na’s largest-ever foreign investment.

A ChemChina spokesman has denied the merger plans. — Reuters

SYDNEY: Shares in billionaire James Packer’s Crown Resorts plunged yes-terday after 18 sales and marketing staff were detained in China, includ-ing an executive in charge of luring high rollers to Australia.

Th e gaming company’s stock fell 13.9% to close in Sydney at A$11.15 (RM35.73).

It followed news that three Aus-tralians were among those hauled in for questioning by Chinese authori-ties last Th ursday and last Friday, with the company unable to contact them.

“In relation to media reports on the weekend, Crown Resorts Ltd believes that Crown’s executive vice-president of VIP International, Jason O’Connor, is one of 18 Crown employees that have been detained by Chinese authorities,” the company said in a statement yesterday.

“To date, Crown has not been able to speak with its employees and

PepsiCo sets global target for sugar reductionBY M A R T I N N E G E L L E R

LONDON: PepsiCo Inc has set a target for reducing the amount of sugar in its soft drinks around the world as part of a suite of goals aimed at tackling problems ranging from obesity to climate change.

Th e New York-based com-pany is scheduled to announce yesterday that by 2025 at least two-thirds of its drinks will have 100 calories or fewer from added sugar per 12 oz serving, up from about 40% now.

Th e move, which it plans to achieve by introducing more zero and low-calorie drinks and reformulating existing drinks, comes as PepsiCo and rival Co-ca-Cola come under increasing pressure from health experts and governments who blame them for fuelling epidemics of obesity and diabetes.

PepsiCo says the new global target is more ambitious than its previous goal of reducing sugar by 25% in certain drinks in select markets by 2020.

“Th e science has evolved,” PepsiCo chief scientifi c offi cer of research and development Mehmood Khan told Reuters.

He gave an example of new fl avour ingredients that require less sweetening, saying: “It’s not just about sweeteners, it’s about understanding the fl a-vour ingredients and having proprietary knowledge and access to them.”

Th e World Health Organiza-tion this month recommend-ed taxes on sugary drinks, as France and Mexico have done, to curb consumption and im-prove health. Th e soft drinks industry opposes such taxes. — Reuters

Crown shares dive as China detains high roller chief

See related story on Page 22

Vanguard cuts exchange-traded funds fees in Hong KongHONG KONG: Vanguard, the world’s second-biggest asset manager, cut the total expense ratio on all its Hong Kong-listed exchange-trad-ed funds, eff ective yesterday, as competition heats up in the passive asset manage-ment space. The move fol-lows similar steps taken by companies such as Charles Schwab Corp and Blackrock in the US that have cut fees re-cently ahead of a new Labour Department rule governing retirement products. While the cuts on Vanguard’s stable of exchange-traded funds of-fered in the Hong Kong mar-ket is a sliver of the overall market, the move points to an increasing focus on costs by asset management com-panies. — Reuters

Tokyo Steel keeps product prices unchanged for November deliveryTOKYO: Tokyo Steel Manu-facturing Co Ltd, Japan’s top electric-arc furnace steel mak-er, said yesterday it would keep product prices unchanged for its November delivery, refl ecting lacklustre demand at home. Tokyo Steel’s pricing strategy is closely watched by Asian rivals such as South Ko-rea’s Posco and Hyundai Steel Co, and China’s Baoshan Iron & Steel Co that export to Japan. Th e company will keep prices for its main product, H-shaped beams used in construction, at ¥65,000 (RM2,632.26) per tonne and prices for steel bars, including rebar, at ¥47,000 a tonne. — Reuters

Energy supplier SSE to sell 16.7% stake in gas distribution businessBENGALURU: SSE plc, Britain’s second-largest energy suppli-er, said it had agreed to sell a 16.7% stake in its regional gas distribution business Scotia Gas Networks Ltd to Abu Dhabi Investment Authority for £621 million (RM3.18 billion). SSE, which expects the deal to close by the end of this month, said it expected to return the proceeds of the sale to shareholders and would provide an update on Nov 9, along with its half-year results. — Reuters

Cost cuts help Pearson to reiterate targets amid tough tradingLONDON: Pearson, the world’s biggest education company, reiterated its full-year outlook yesterday after cost cuts helped it to counter worse-than-ex-pected trading in the third quarter. In a key update for investors, Pearson said nine-month organic sales fell by 7%, maintaining the declines re-corded in the fi rst half of the year due to weak demand for courseware in its North Ameri-can higher education business. Analysts had expected a nine-month fall of 5%. — Reuters

is working closely with the Depart-ment of Foreign Aff airs and Trade to urgently make contact with and ascertain the welfare of its employees.

“Crown is yet to be provided with details of why its employees have been detained.”

China’s foreign ministry said in

a statement to AFP that Australian nationals had been “criminally de-tained by Chinese authorities for suspected gambling off ences”.

“The case is under investiga-tion,” it added.

The Australian Broadcasting Corp said it understood that they were detained for soliciting Chinese high rollers to gamble in overseas casinos. — AFP

A fi lepic of the Crown Casino complex in Melbourne. Crown Resorts believes Crown’s executive vice-president of VIP International is one of 18 employees detained by Chinese authorities. Photo by Reuters

2 0 W O R L D B U S I N E S S TUESDAY OCTOBER 18, 2016 • THEEDGE FINANCIAL DAILY

Singapore makes another bid for Asia to help set gold price‘Joint feasibility study on development of LBMA pre-AM gold price at 2pm S’pore time will be launched’

TOKYO: Th e Bank of Japan (BoJ) maintained its optimistic economic view on most of the country’s nine regions in a quarterly report out yesterday, signalling its confi dence that a tightening job market will gradually push wages up and un-derpin a steady economic recovery.

But some regions warned of weak-ness in private consumption includ-ing the Tokai central Japan region, home to Toyota Motor Corp, where a strong yen hurt corporate profi ts and dampened consumer sentiment.

BoJ governor Haruhiko Kuroda maintained his upbeat view of the

SEOUL: South Korea’s economic growth is still expected to meet the government’s expectations this year, although recent strikes at Hyundai Motor Co and the dis-continuation of Samsung Electron-ics Co Ltd’s Note7 sales pose risks, deputy fi nance minister Lee Chan-woo said yesterday.

Lee told a news briefi ng on the economy that Samsung Electronics’ troubles could have a negative im-

BoJ keeps upbeat economic view, some regions may see spending slow

S Korea says will meet 2016 growth forecast despite Samsung Note7 risks

BY M A N O LO S E R A P I O J R

Why Duterte’s leaving behind his jet ski on his trip to China Page 22

*

SINGAPORE: Singapore will study the possibility of bringing the gold benchmark pricing in London to users in Asia, in a move that would also allow market participants in the world’s top consuming region to help set the price of bullion.

Home to the world’s biggest buy-ers China and India, Asia’s impor-tance has been on the rise as the key source of demand for gold, but bullion traders in the region are often exposed to intraday price volatility and overnight foreign ex-change risks with benchmark prices currently being set out of London.

Th e Singapore Bullion Market Association (SBMA), London Bul-

lion Market Association (LBMA) and Intercontinental Exchange Benchmark Administration (IBA) will launch a joint feasibility study on the development of “LBMA pre-AM gold price at 2pm Singapore time”, Monetary Authority of Sin-gapore (MAS) deputy chairman and trade and industry minister Lim Hng Kiang, told an industry conference yesterday.

Th e study “is an important fi rst step towards establishing a US dol-lar price discovery mechanism for gold during Asian business hours,” said Lim. “When in place, it will fa-cilitate the timely tracking of Asian demand and allow participants in Asia to settle their trades within the same business day.”

Singapore in January 2014 dropped plans to set a daily ref-erence price for gold shortly after European regulators investigated manipulation of precious metals prices by banks.

In October that year, the Singa-pore Exchange launched a 25kg wholesale gold contract targeting to create a regional benchmark, but the contract has failed to attract volumes, with zero activity in some months.

“We hope to make a reputable gold benchmark mechanism in

London available to Asian users,” SBMA chief executive Albert Cheng told Reuters.

Cheng said the feasibility study will be done until year end. “If there’s enough interest, the IBA will consider launching it early next year,” he said.

China launched a yuan-denom-inated gold benchmark in April this year in a bid to exert more control over pricing of the metal, but use of the benchmark even in China has yet to gain traction, traders say, many of whom still follow the dol-lar-denominated London pricing.

Th e London gold fi x, previous-ly set via a teleconference among banks and facing allegations of ma-nipulation, was replaced in 2015 by electronic auctions, which take place twice daily.

Th e LBMA last week named Cin-nober subsidiary Boat as the service provider for its new trade report-ing platform, as it moves to boost transparency in the US$5 trillion (RM21.05 trillion) a year London gold market.

Transparency in the fi xing pro-cess has come under scrutiny since a scandal broke in 2012 over the rigging of the London interbank off ered rate. — Reuters

Gold bars at a gold and silver separating plant in Europe. The London gold fi x, set by electronic auctions, takes place twice daily. Photo by Reuters

BY L E I K A K I H A R A economy and reiterated the BoJ’s re-solve to maintain ultra-loose mone-tary policy to hit its 2% infl ation target.

“Japan’s economy continues to re-cover moderately as a trend, although some weaknesses are seen in exports and output due to the eff ect of slow-ing growth in emerging economies,” Kuroda told a quarterly meeting of the BoJ’s regional branch managers. Six of the nine BoJ regional branch managers said their areas’ economies continued to recover moderately. Th e report will be among factors the BoJ’s board will scrutinise at its rate review from Oct 31 to Nov 1. Sources say it is likely to cut next fi scal year’s infl ation forecast slightly. — Reuters

pact on the country’s growth, particu-larly in the second half of the year.

“It could have negative eff ects on the economy. Especially in Samsung’s case, this minus eff ect may be refl ect-ed in the third and fourth quarters,” Lee said and elaborated that recent strikes at Hyundai were a bigger risk.

“But our economy is not just Sam-sung and Hyundai.”

He said that growth this year would meet its 2.8% forecast. — Reuters

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W O R L D 2 1TUESDAY OCTOBER 18, 2016 • THEED G E FINANCIAL DAILY

‘Vietnam fl oods claim at least 25 lives as new typhoon approaches’HANOI: Severe fl ooding in cen-tral Vietnam has killed at least 25 people and destroyed thou-sands of homes, offi cials said yesterday, as the country braced for further destruction with a ty-phoon barrelling closer. Images from fl ood-hit provinces showed houses almost completely sub-merged and people paddling down waterlogged streets fol-lowing heavy rain that started last week. Four people are still missing after the deluge, which destroyed or damaged more than 240,000 homes in several central provinces since last Fri-day, the Natural Disaster Preven-tion offi ce said on its website. State-run media reported that at least one local hydropower plant suddenly released water from its reservoir, which contributed to some of the destruction over the weekend. — AFP

Daughter of formerPhilippine dictatorcalls for forgivenessMANILA: Th e daughter of late Philippine dictator Ferdinand Marcos called for forgiveness yesterday as she led a rally at the Supreme Court urging it to approve a controversial he-ro’s burial for her father. About 1,000 supporters gathered with Imee Marcos at the court, which may announce today whether it approves President Rodri-go Duterte’s order to allow the burial at Manila’s National He-roes’ Cemetery 27 years after the strongman died. Imee cit-ed Pope Francis as she called for human rights victims and other critics of the dictatorship to abandon their campaign against the burial plan. — AFP

‘N Korea missile exploded shortly after lift-off ’SEOUL: An explosion almost immediately after launch was behind the failure of North Ko-rea’s latest test-fi ring of a pow-erful medium-range missile, the South Korean military con-fi rmed yesterday. North Korea tested a Musudan missile — ca-pable of hitting US bases as far away as Guam — shortly after midday Saturday near an air base in the northwestern city of Kusong. A defence ministry spokesman confi rmed the mis-sile exploded soon after lift-off , in the very initial stage of the launch. — AFP

Rwanda’s last king,Kigeli V, dies at age 80WASHINGTON: Th e last king of Rwanda, Kigeli V, who ruled the East African nation for less than a year before being forced into exile, fi nally settling in the US, died on Sunday according to his offi cial website. He was 80. Born Jean-Baptiste Ndahin-durwa, King Kigeli V came to power in 1959 and was forced to leave the country the follow-ing year after clashing with the Belgian colonial power. Details of his death were not immedi-ately known. — AFP

I N BR I E F

Trump keeps upTwitter bombardmentHe claims election results are being ‘rigged’ at many polling places

BY EMILY STEPHENSON & ALANA WISE

BY AT H E N S Z AW Z AW

BY P R A C H A H A R I R A K S A P I TA K

& PAT P I C H A TA N A K A S E M P I PAT

Myanmar ferry accident

150 km

NAYPYIDAW

CHINA

MandalayMonywa

Homalin Packed ferry capsized on the Chindwin River, officials saidMonday

WASHINGTON: Republican pres-idential nominee Donald Trump dug deeper in his efforts to cast doubt on the legitimacy of the US election, saying on Twitter that he believed the results were being “rigged” at many polling places.

His tweet on Sunday came hours after his vice presidential running mate, Mike Pence, said Republi-cans would accept the outcome of the Nov 8 contest between Trump and his Democratic rival, Hillary Clinton.

“Th e election is absolutely be-ing rigged by the dishonest and distorted media pushing Crooked Hillary — but also at many polling places — SAD,” Trump wrote on Twitter, in the latest of a series of comments he has made over the past several days calling into ques-

BANGKOK: The death of Thai King Bhumibol Adulyadej will not affect plans to hold a general election in 2017, the media report-ed yesterday, scotching specula-tion that the military government would delay the poll as the country

YANGON: Searchers have recov-ered 25 bodies from a ferry that sank in central Myanmar and ex-pect to find scores more corpses as workers begin raising the boat from the riverbed, officials said yesterday.

A total of 154 people have been rescued since the boat sank on Sat-urday on the Chindwin River about 72km north of the city of Monywa.

Search teams scouring the river, who are now securing the boat with ropes so it can be hauled out by a crane, fear the death toll could go as high as 100.

“Now we have found 25 dead bodies but we are still trying to lift the boat out,” said Sa Willy Frient, the director of the local relief and resettlement department who is overseeing the operation.

Earlier, he told AFP the ferry had been fi lled with “mainly university students and schoolteachers” when it sank at around 5am on Saturday.

“I think around 70 or 80 univer-sity students and about 30 school-

tion the fairness of the election.Trump, who is trailing Clinton

in opinion polls, did not provide any evidence to back his allega-tions of impropriety at the voting booth. Early voting and voting by mail have begun in many states.

In another tweet later on Sunday, Trump blamed “animals represent-ing Hillary Clinton” and Democrats in North Carolina for an overnight attack on a local Republican Party headquarters in that state.

Local authorities said the build-ing in Hillsborough, North Caroli-na, had been struck through a front window with fl ammable material and an adjacent building wall was spray-painted with a swastika and the words “Nazi Republicans leave town or else”.

“Animals representing Hillary Clinton and Dems in North Car-olina just firebombed our office

in Orange County because we are winning,” Trump tweeted.

Clinton denounced the attack as “horrifi c and unacceptable” in her own tweet, adding: “Very grateful that everyone is safe.”

Trump, a New York business-man, who has never held elective offi ce, has often said the elector-al process is skewed against him, including during the Republican nominating contests, when he dis-puted the method for winning del-egates to the Republican National Convention.

His latest complaint of media bias stems from allegations by women that he groped them or made other unwanted sexual advances, after a 2005 video became public in which Trump was recorded bragging about such behaviour. He apologised for the video but has denied each of the accusations. — Reuters

Th ai king’s death will not delay election — mediaenters a year of mourning.

Mourners continued to fl ock from across the country to the Grand Pal-ace in Bangkok to pay their respects to the king, a beloved father fi gure for the Th ai people who died last Th ursday after seven decades on the throne.

Offi cials said they expected tens of thousands every day at the pal-ace and, with so many arriving in

Bangkok from the provinces, the city administration has ordered youth centres and public gyms to provide accommodation for free.

Th e death of the world’s long-est-reigning monarch had raised questions over whether the junta would delay elections, paving the way for a return to civilian rule. However, the Bangkok Post news-

paper reported that the poll would proceed as planned.

“Th e government has reaffi rmed its commitment to following the roadmap for general elections sched-uled for late next year,” the paper said.

Weerachon Sukondhapatipak, a spokesman for the military gov-ernment, declined to comment on the matter. — Reuters

25 bodies recovered in Myanmar ferry disaster — offi cials

teachers, and also doctors,” he added.

The boat was carrying an es-timated 240 to 250 people — around 100 more than its capacity — along with heavy cargo, includ-

ing several motorbikes.Four of the boat’s staff have been

arrested and will face legal action, said Sa Willy Frient. Authorities are still hunting for one crew member and the ferry’s owner. — AFP

TOKYO: An anti-nuclear can-didate pulled off a surprise victory in a local Japanese election at the weekend, hurt-ing Tokyo’s already struggling bid to restart shuttered reac-tors more than fi ve years after Fukushima.

First-time politician Ryuichi Yoneyama, 49, had cam-paigned on a pledge to stop the refi ring of the Kashiwaza-ki-Kariwa power station, the world’s biggest nuclear plant, about 200km north-west of Tokyo.

Yoneyama won the race on Sunday to become Niigata pre-fecture’s new governor, in the latest challenge for the energy policy of Prime Minister Shin-zo Abe, who called the election results “extremely regrettable”.

Shares in Fukushima op-erator Tokyo Electric Power — which also runs Kashiwa-zaki-Kariwa — tumbled nearly 8% to ¥385 (RM15.58) in Tokyo on the election news.

There are seven reactors across the 4.2 million sq m Kashiwazaki-Kariwa site.

“I can’t approve [restarting reactors] in the current situa-tion where the lives of residents can’t be protected” from an accident, Yoneyama told re-porters yesterday.

His victory came after voters in southern Kagoshima prefec-ture voted in a new anti-nuclear governor in July.

Yoneyama, a doctor and lawyer who ran as an inde-pendent but was supported by left-leaning opposition parties, beat a ruling bloc-supported candidate with 528,455 votes to his opponent’s 465,044.

Th e unexpected results put Abe in a tricky position.

Th e central government can overrule a governor’s opposi-tion to restarting nuclear reac-tors. But Abe has promised to win approval from local com-munities before approving re-starts under stricter post-Fuk-ushima safety rules.

Dozens of reactors across Japan were switched off in the wake of the March 2011 Fuku-shima accident, the worst nu-clear disaster in a generation, and there are just two currently operating. — AFP

Anti-nuclear politician’s win hurts Japan’s atomic push

2 2 F E AT U R E TUESDAY OCTOBER 18, 2016 • THEEDGE FINANCIAL DAILY

Why Duterte’s leaving behind his jet ski ‘China will help the Philippines build infrastructure and railways’

BY P H I L A S I U

The optimism of the couplet carved into the Filipino-Chinese Friendship Arch at the entrance of Manila’s Chinatown seems apt

to describe the warming ties between the two countries. The shining gold Chinese characters predict the coun-tries’ bond will “last 1,000 autumns” and the “harmony shall be forever”.

Th at sentiment may yet refl ect the future, but holds less well for the recent past. When the Philippine president, Rodrigo Duterte, meets his Chinese counterpart Xi Jinping this week in Beijing, he will be put-ting aside years of hostility to cosy up to the world’s second-largest economy — a move made all the more signifi cant by the frosting of relations between his country and the world’s largest economy, the US.

Before Duterte was sworn in as president in June, Sino-Philippines relations had hit rock bottom. Th e archipelago nation, then led by Be-nigno Aquino, had made the gutsy and provocative decision to take China to the international court over their territorial dispute in the South China Sea. Th e court dismissed Chi-na’s claims to the contested waters, making it clear that China had vi-olated Philippine sovereignty by building artifi cial islands there.

Indeed, when Duterte was run-ning for president, the tough talker claimed he would personally drive a jet ski to the disputed Spratly Is-lands and plant the Philippine fl ag.

But it’s a marked change in tone, not a jet ski, that Duterte — born and raised in the Philippines but with an ethnic Chinese grandfa-

ther from Xiamen — has driven. His words on China have become more measured.

“Leaning [towards] China is a very important thing because Chi-na is very near to the Philippines. We are neighbours,” said James Dy, emeritus chairman of the Fil-ipino-Chinese General Chamber of Commerce.

“Th ere are a lot of Filipinos who have Chinese blood … [China] is a big nation, it has a big economy and a big population. If China gives us, say, fi ve million tourists every year, the Philippines will be very happy. It’s good business for us.”

Dy, one of the most well-known businessmen in the Philippines, whose empire spans from hotels to real estate and travel agencies, said the Chinese community was keeping its fi ngers crossed that, as relations between the two countries improved, more investment would be pumped into the country, which is struggling to create enough jobs.

He said China would help the Philippines build infrastructure and railways, hopefully easing Manila’s notorious traffi c, caused by overpop-ulation and lack of public transport.

Dy also said he hoped the govern-ments could agree to waive travel vi-sas for each other’s citizens, boosting tourism and encouraging business.

“I expect [Duterte] will bring a lot of things home. I don’t think the president would just visit without more or less a previous understand-ing … if everything [is likely to be] rejected by the [Chinese] govern-ment, why should he go there?”

Duterte has done plenty to sug-gest Chinese leaders will be pleased to see him.

Last week, he advised Filipino businessmen at a forum to learn from their Chinese counterparts.

“Study the Chinese style. It’s an innate thing in them — the art of doing business,” he said.

“You know my grandfather, when he arrived in Agusan, Butu-

an, he had nothing but his capital. He’s really good. He went [from selling dried] copra then to buying land. He kept his money growing.”

But recent relations are not all sunshine and light. Some observ-ers question whether the loss of US infl uence will aff ect Manila’s stance on human rights, which has already been condemned for the wave of extrajudicial killings of suspect-ed drug dealers that Duterte has encouraged. Th ey point out that dealing with external critics on hu-man rights is a common concern for Beijing and Manila.

Jacqueline Ann De Guia, spokes-man for the Commission on Human Rights of the Philippines, played down such fears.

“We would be generalising too much if we were to accord the strengthening of ties with China with potentially the rise in human rights violation,” she said. “I hope it won’t equate to a direct correla-tion with human rights violations.”

Meanwhile, the Chinese commu-nity in the Philippines — 2.5 million of its 102 million people — is thriving.

According to Forbes, of the 10 richest people in the Philippines, seven are Filipino-Chinese. Th ey control assets such as shopping malls, banks and fast-food chains.

Smaller Chinese businesses are also doing well — particularly in Chinatown, in the Binondo district of Manila, where the streets teem with Chinese eateries, groceries and shops selling cheap Chinese clothes, sunglasses and toys.

Even before Duterte became president, when diplomatic ties be-tween the countries were at a low, the Chinese were a welcome pres-ence. — South China Morning Post

CASINOS across the Asia-Pacifi c are partly a bet on China. Th at’s the message from Crown Resorts, Aus-tralia’s biggest gambling company, whose shares crashed on Oct 17 af-ter mainland authorities detained some employees.

Th e irony is that Crown has actu-ally been backing away from direct involvement with the People’s Re-public. In June, investors cheered plans by Crown, which is controlled by billionaire James Packer, to split off international businesses, including a stake in Melco Crown Entertainment, the Nasdaq-listed Macau casino op-erator, and various other assets.

Now 18 Crown employees, in-cluding three Australians, have been hauled in by Chinese author-ities. Th ese include a manager who serves as “executive vice-president, VIP International”. Crown has not yet learnt why the employees were held — which echoes a previous case in-volving employees of Rio Tinto, the Anglo-Australian miner.

However, China’s broad-brush legislation means it is often possible to fall foul of a variety of ill-defi ned off ences. Casinos cannot advertise in China but promoting gambling in other ways, such as advertising resort facilities or off ering credit to high-spending clients, could also be problematic. Last October, 13 South Koreans were detained for luring Chi-nese gamblers to casinos in the resort of Jeju. It is also not yet clear whether this episode says anything about a broader shift in Beijing’s attitudes to gambling. Signs of revival have recent-ly emerged in Macau, the only part of China where gambling is legal, after the territory was hammered by the country’s anti-corruption campaign. However, crackdowns are common ahead of big political meetings, such as an annual autumn gathering of the party hierarchy, so the problems could blow over. — Reuters

BY R A C H E L M O R A R J E E

Crown highlights risks of courting Chinese VIPs

Chinatown, in the Binondo district of Manila, the streets teem with Chinese eateries, groceries and shops selling cheap Chinese clothes, sunglasses and toys. Photo by South China Morning Post

5.98 128.98

S P O RT S 2 3TUESDAY OCTOBER 18, 2016 • THEED G E FINANCIAL DAILY

Unfashionable Murray looking good for world No 1 It could get better for him with wins in Vienna and Paris

I N BR I E F

BY TA L E K H A R R I S

SHANGHAI: Andy Murray has nev-er been the most fashionable mem-ber of tennis’s “Big Four”, but he fi nally looks the part as he zeroes in on the world No 1 spot.

Winning back-to-back titles in China without dropping a set tells its own story, and underlines the consensus that Murray is currently the world’s best player.

Th e 29-year-old swept past Rob-erto Bautista to win his third Shang-hai Masters title on Sunday, lifting his sixth trophy in what has been his best season yet.

It could get better for Murray, who can overtake Novak Djokovic at the top of the rankings with wins in Vienna and Paris, provided the Serb doesn’t reach the Paris fi nal.

It hasn’t done Murray any harm that Djokovic has suff ered a sudden and perplexing dip in form, and that Roger Federer is sidelined by injury.

Rafael Nadal is also a fading

force but Murray would be a de-serving successor as the last of the four, who have 46 Grand Slam titles between them, to reach No 1.

What’s more, Murray, often marked out for his anguished de-meanour on court, is growing into

Murray holding the trophy after winning the Shanghai Masters title in Shanghai, China on Sunday. Photo by Reuters

the role of eminent tour-leader in the mould of Djokovic and Federer before him.

Th e one-time gawky kid still be-rates himself during matches but he is far more comfortable with the media, giving fulsome and intelligent answers to all questions. He is also prepared to defend and mentor younger players such as the wayward Nick Kyrgios, whose latest on-court meltdown re-sulted in a fi ne in Shanghai.

Physically, too, Murray is at his peak, with supreme fitness and acceleration that can shift his now-hulking frame around the court at frightening speeds.

“I have never had success like I have had the last few months in my career, so to keep that going, I’m aware it’s going to be a diffi cult thing to do,” Murray said. “I need to keep myself motivated and be smart with my schedule and my time off , as well. But I believe I can get there. Th ese last few months have proved that to me.”— AFP

LONDON: Th e Association of Ten-nis Professionals (ATP) yesterday ordered controversial Australian ten-nis star Nick Kyrgios to see a sports psychologist or face an eight-week ban after his tantrum at the Shang-hai Masters.

Th e tennis tour organisers add-ed US$25,000 (RM105,250) to a US$16,500 penalty ordered last week, and said an eight-week ban would be

reduced to three weeks if the player “enters a plan of care under the di-rection of a sports psychologist, or an equivalent plan approved by ATP.”

Kyrgios has been in repeated trouble with the tennis authorities, getting a suspended one-month ban last year for comments made to Stan Wawrinka.

The 21-year-old Kyrgios was slapped with a US$16,500 penalty

at the Shanghai Masters last week where he gave away points, swore and argued with fans before being booed off court.

“Nick’s conduct in Shanghai was unacceptable, disrespectful to the sport and its fans,” said ATP executive chairman Chris Kermode. “We take these matters very seriously and he has since apologised for his actions.

Th e ATP said that after an inves-

tigation into the Australian’s second round match in Shanghai, Kyrgios had been found guilty of conduct contrary to the integrity of the game. Th is meant an additional US$25,000 fi ne and an immediate eight week suspension.

If Kyrgios agrees to see a psy-chologist he could return to the tour on Nov 7, after the three week ban. — AFP

Kyrgios gets psychologist or ban ultimatum

Serena withdraws from WTA FinalsSINGAPORE: US superstar Ser-ena Williams has withdrawn from the elite Women’s Ten-nis Association (WTA) Finals in Singapore, saying she’s still working to recover from the shoulder troubles that hin-dered her in 2016.

Th e WTA announced Wil-liams’ withdrawal from the event that starts on Sunday on their Twitter feed, posting a video of Williams explaining the decision.

It will be the second straight year that Williams is skipping the season fi nale in Singapore due to injury.

“Hey everyone in Singa-pore,” Williams said. “I’m real-ly, really bummed that I won’t be able to come compete this year.

“It’s been a really tough year for me just dealing so much with these shoulder injuries. My doctor insists that I stay home and heal it every sin-gle day.”

The 22-time Grand Slam champion earlier pulled out of two tournaments in China after being knocked out of the semi-fi nals of the US Open.

Wil l iams’ w ithdrawal opens up the eighth qualifi -cation spot to Britain’s Johan-na Konta, Spain’s Carla Suárez Navarro and Russia’s Svetlana Kuznetsova. — AFP

BY C H R I S TO P H E R L A N G N E R

SINGAPORE: Gianni Infantino (pic), Fifa’s new president, has am-bitious plans. Th ey are, however, easy to execute and may help further the goals of some of the soccer body’s major sponsors.

For a start, In-fantino is pledging to invest US$4 bil-lion (RM16.84 bil-lion) to increase the number of foot-ball participants to 60% of the

China’s soccer will get a boost from Fifa expansion

world’s population, from the cur-rent 45%. Guess what: He doesn’t have to spend the money. More Chinese kicking a ball around could get him to his target in one move.

Coincidentally, that would fi t well with the strategy of Wang

Jianlin, China’s second-richest man, whose Dalian Wanda Group in March became the fi rst major sponsor of Fifa since a criminal corruption scandal overwhelmed the organisation and led to the ouster of longtime presi-dent Joseph “Sepp” Blat-

ter. Jack Ma, the nation’s richest man, followed

suit in courting the federation.

When he announced his cash injection into the soccer authori-ty, Wang said that having multiple sponsors “will help China bid to host the World Cup.”

That remains to be seen, but another of the aims Infantino laid out last Friday may at least help the world’s most populous nation return to the World Cup, in which it participated just once, without winning any games. Th e new pres-ident plans to increase the number of teams in the event to 48 from the current 32.

Ranked 78 by Fifa, China still has to work on its national team to reach the World Cup, even with the greater number of participants. But from a statistical perspective,

a 50% increase in the number of available seats increases the odds that the nation makes it.

Th at’s just what Xi Jinping need-ed. Th e avowed soccer fan has de-clared football a national priority and harbours an ambition to see the country host and win the World Cup. Naturally, it makes sense for people in the private sector to help him get there.

Th e China team’s recent losses to Syria (really) and Uzbekistan indicate that the only way is up. As Fifa continues to grapple with the fallout from the corruption scan-dal, it needs supporters with deep pockets such as those in China. Th is is the start of a long friendship. — Bloomberg

Motors in driving seat despite bribery stormSEOUL: Jeonbuk Hyundai Mo-tors hope to ride out a bribery storm and reach the AFC Cham-pions League fi nal when they take a 4-1 lead into their semi-fi -nal second leg against FC Seoul. The K-League leaders were slapped with a nine-point de-duction and a 100 million won (RM370,990) fi ne last month after one of their scouts was convicted of bribing referees. But Jeonbuk will be confi dent of reaching their third Asian fi nal after scorers Leonardo, Ricar-do Lopes and Kim Shin-Wook combined to devastating eff ect in the fi rst leg. Th e winners of tomorrow’s all-Korean clash will play UAE’s Al Ain or Qatari outfi t El Jaish, who will try to overturn a 3-1 defi cit in their second leg today in Doha. — AFP

Australia wait on fate of Thailand World Cup tieSYDNEY: Australia could play their World Cup qualifi er against Th ailand on neutral territory if eff orts fail to keep the match in Bangkok following the death of King Bhumibol, Football Feder-ation Australia (FFA) said yes-terday. Th e venue for the Nov 15 match has been in limbo since the world’s longest-reign-ing monarch died last Th ursday aged 88, after years of ill health, plunging Th ailand into mourn-ing. FFA chief executive offi cer David Gallop said there were en-couraging signs the match would take place as planned, although Kuala Lumpur or Singapore were options. “It does look encourag-ing,” Gallop told reporters. — AFP

McDowell calls time on European campaignWATFORD (UK): Former US Open champion Graeme Mc-Dowell has pulled the plug on his European Tour season af-ter a best fi nish in two years in sharing fourth place at the Brit-ish Masters. Th e Orlando-based Northern Irishman posted a fi nal round 68 for a 13-under par tally that saw him fi nish fi ve shots be-hind Sweden’s Alex Noren at Th e Grove course north of London on Sunday. McDowell’s eff ort, following his bitter disappoint-ment in not qualifying for the 2016 European Ryder Cup team, was his best on the European Tour since he shared third place in the 2014 WGC–Champions event in Shanghai. — AFP

Steele surges to Safeway Open victoryLOS ANGELES: Brendan Steele erased the bitter memory of last year’s fi nal-round failure, fi n-ishing with three straight bird-ies on Sunday to win the rain-soaked US PGA Tour Safeway Open. Steele, who led through 54 holes last year but carded a fi -nal-round 76 as rookie Emiliano Grillo powered to the crown, carded a seven-under par 65 at Silverado Resort in Napa, Cal-ifornia for an 18-under total of 270. He was a shot clear of 54-hole leader Patton Kizzire, who carded a 70 for 271. — AFP

24 live it! W E L L B E I N G . T H E A R T S . W I N E + D I N E . S T Y L E + D E S I G N . L E I S U R E

TUESDAY OCTOBER 18, 2016 • THEEDGE FINANCIAL DAILY

PersonalASSISTANTC O M P I L E D BY S H A L I N I Y E A P

W O R K . L I F E . B A L A N C E

CELEBRATE Oktoberfest at Le Meridien Ho-tel Kuala Lumpur’s Gastro Sentral. Take your pick from dishes like thueringer grillwurst with sauerkraut and potato salad or smoked frankfurter sausage with sage-fl avoured po-tato galette or veal bratwurst with milk, red cabbage and apple in a pot. All dishes, served with a pint of Erdinger Beer, are priced at RM88 nett. Make your way to Le Meridien Hotel Kuala Lumpur at 2 Jalan Stesen Sen-tral, Kuala Lumpur Sentral, Kuala Lumpur today to enjoy a hearty meal over a refresh-ing brew. Visit www.lemeridienkualalumpur.com for reservations and more information.

NO Black Tie’s veteran Michael Veerapen introduces a young quartet — jazz guitarist Chee Seng, bassist Jen Wei and Hong Ee on drums. Unwind to their renditions of popu-lar jazz standards as well as some original compositions. Catch the performance which begins at 9pm at 17 Jalan Mesui, off Jalan Nagasari, Kuala Lumpur. Cover charge is RM32. Email [email protected] for bookings and visit www.noblacktie.com.my or call (03) 2142 3737 for more details.

IF you are planning to check out an art ex-hibition today, drop by Galeri Chandan to view 20 sculptures made from clay as well as mixed media works at its ongoing selling exhibition, Breathe. It is the culmination of Patisatustudio’s 2016 initiative comprising whimsical ceramic sculptures by Japanese ceramic sculptor, Satoko Ootsuki alongside Malaysian contemporary artists and sculp-tors Al-Khuzairie Ali and Umibaizurah Mahir @ Ismail. The works explore the common theme of “seed”, as the trio refl ect on the idea of birth, fertility and nature, amongst other things. Galeri Chandan is located at Lot 24 & 25 (G4), Block C5 Publika Shopping Gallery, Jalan Dutamas 1, Kuala Lumpur and Breathe will be open for viewing between 10am and 7pm. Visit www.galerichandan.com for more information.

As a budding accounting in-tern at a large consulting firm, it didn’t take Wash-ington chef Aaron Silver-man long to realise that the corporate life he had

chosen was a recipe for boredom. “I was miserable,” he said. “I thought cooking might be fun so I gave it a shot.”

Silverman’s leap of faith into the re-lentless heat of the kitchen paid off : Th e 34-year-old was awarded last Th ursday a set of coveted Michelin stars, as part of the elite guide’s fi rst handbook on the US capital.

Th e owner of two lauded establish-ments on Washington’s nascent foodie scene, Silverman earned two stars for his high-end Pineapple & Pearls and one for his debut hotspot Rose’s Luxury, known for its whimsical dishes and nonchalant ambience.

“We didn’t want to be the best restau-rant; we didn’t want to be the most pop-ular restaurant,” Silverman said. “We just wanted to be the most enjoyable one.”

Diners fl ocked to Rose’s Luxury, with its industrial farmhouse ambiance, after it opened in 2013, sometimes standing in line for hours outside to sample dish-

Aaron Silverman’s journey from accounting intern to Michelin-starred US chef

UNLIKELY CHEFes like boudin-stuff ed squid, a salad of pork sausage, habaneros and lychees, or the unlikely hit of strawberry spaghetti.

Michelin judges and their discerning palates were especially taken with the restaurant’s US$125 (RM526.25) tasting menu. Concocted by sous-chef BJ Lieb-erman, it includes an appetiser of pick-led quail eggs decorated with touches of caviar and gold leaf, a fusion of diverse culinary inspirations that earned the beloved eatery a single star.

Rose’s next-door sibling restaurant Pineapple & Pearls opened in April —perhaps too recent to earn a top three-star rating.

But Michelin inspectors gave the haute spot two stars for “perfectly fl avoured dishes refl ecting a wide range of infl u-ences.”

Though his spectacular rise to the top might indicate otherwise, Silverman “was not born with a whisk in his hand,” he says on the Rose’s Luxury website.

Before his fi rst foray into the Wash-ington foodscape as a professional res-taurateur, Silverman completed several apprenticeships in the capital city and then studied in New York under David Chang — head chef and founder of the Momofuku empire. He also ventured south to Charleston, South Carolina.

Silverman calls his food “eclectic American,” citing his menu’s diverse infl uences that include Italian, Mexican and Japanese. “We’re all from everywhere else,” he said.

He opened Rose’s Luxury with just 20 employees, a payroll that quickly jumped to 65 as the restaurant became an instant

darling among DC diners — including the city’s most notable hometown celebrity.

US President Barack Obama celebrated his 54th birthday last year at the small-plates restaurant with his wife Michelle — the fi rst lady’s second visit. “It was amazing,” Silverman said of the com-mander-in-chief’s birthday fete. “Th ey were like the coolest, nicest people ever.”

Despite Pineapple & Pearl’s steep US$250-dollar tasting menu, Silverman and his team worked to keep stuffi ness from creeping into the sleek dining room that looks into an open kitchen.

“We like things that are really fan-cy and elegant and luxurious but not necessarily formal, as formality kind of creates stiff ness,” the tattooed chef said. “Formality and discomfort definitely detract from pleasure. We tried to fi gure out how we could do fi ne dining that was fancy but fun.”

Silverman said the playful-chic vibes at his restaurants extend to the Washing-ton restaurant scene as a whole: “Th ere is a very strong camaraderie,” he said.

Rose’s Luxury recently gifted a lunch delivery to staff at DC’s latest culinary smash, Bad Saint. Th e cosy Filipino eatery has diners queuing Rose’s Luxury-style.

“It’s awesome because what’s good for one of us is good for all of us,” the chef said. “We don’t really look at it as a kind of competition; there are plenty of din-ers who want great restaurants to eat at to go around.”

“We’re just looking to help each other improve and succeed and off er something better for our staff and guests in DC as a whole.” — AFP

Silverman calls his food ‘eclectic American’ with Italian, Mexican and Japanese infl uences.

2 5

TUESDAY OCTOBER 18, 2016 • THEED G E FINANCIAL DAILY

YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL)

Bursa Malaysia Main Market YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL)

Bursa Malaysia

KLSE COMPOSITE 1,653.71 -5.26 -0.32

KLSE INDUSTRIAL 3,099.44 -21.60 -0.69

CONSUMER PRODUCT 602.08 -0.23 -0.04

INDUSTRIAL PRODUCT 145.71 -0.17 -0.12

CONSTRUCTION 288.53 0.83 0.29

TRADE & SERVICES 224.71 -1.13 -0.50

KLSE FINANCIAL 14,211.46 -13.91 -0.10

KLSE PROPERTY 1,212.14 -0.36 -0.03

KLSE PLANTATION 7,903.19 -11.38 -0.14

KLSE MINING 478.24 -4.05 -0.84

INDICES CLOSE +/- %CHGTECHNOLOGY 23.00 0.01 0.04

FTSE BURSA 100 11,406.49 -28.37 -0.25

FTSE BURSA MID 70 13,786.82 -5.60 -0.04

FTSE BURSA SMALL CAP 15,468.49 -13.82 -0.09

FTSE BURSA FLEDGLING 16,092.68 32.89 0.20

FTSE BURSA EMAS 11,709.60 -28.04 -0.24

FTSE BUR M’SIA ACE 5,139.17 -10.03 -0.19

FTSE BUR EMAS SHARIAH 12,369.01 -35.88 -0.29

FTSE BUR HIJRAH SHARIAH 13,760.77 -48.82 -0.35

FTSE/ASEAN 40 9,147.64 -43.68 -0.48

INDICES CLOSE +/- %CHG

Sectorial Movement

CONSUMER PRODUCTS 0.824 0.562 0.715 0.700 7120 ACOSTEC 0.710 UNCH 459.8 0.708 14.49 3.52 126.3 4.800 3.297 4.640 4.580 7090 AHEALTH 4.640 0.070 5.4 4.601 14.06 2.48 543.6 14.647 5.861 13.800 13.700 2658 AJI 13.800 -0.080 12.5 13.721 19.31 2.45 839.0 0.270 0.210 — — 7051 AMTEK 0.240 — — — — — 12.0 6.330 4.595 6.330 6.080 6432 APOLLO 6.200 0.150 43.9 6.207 20.45 4.84 496.0 1.480 0.890 — — 7722 ASIABRN 0.995 — — — — 0.50 78.7 5.174 3.700 3.720 3.710 7129 ASIAFLE 3.720 UNCH 16.5 3.719 10.05 4.30 715.2 61.652 39.875 48.680 47.860 4162 BAT 48.340 0.500 92.8 48.315 20.45 5.30 13,802.5 0.060 0.035 0.050 0.050 7243 BIOOSMO 0.050 UNCH 30 0.050 — — 24.9 0.773 0.550 0.665 0.645 9288 BONIA 0.645 -0.005 897.4 0.654 20.87 1.94 520.1 1.870 1.010 1.650 1.620 7174 CAB 1.650 UNCH 200 1.646 16.22 — 290.4 0.647 0.466 0.490 0.490 7154 CAELY 0.490 UNCH 10 0.490 6.52 2.04 39.2 0.400 0.260 0.345 0.315 7128 CAMRES 0.325 0.010 506.3 0.333 9.48 — 64.0 15.136 10.686 14.740 14.540 2836 CARLSBG 14.720 0.100 43.1 14.613 17.91 4.89 4,534.9 0.730 0.530 0.635 0.620 7035 CCK 0.620 -0.015 928.3 0.624 13.28 2.42 195.5 2.667 1.970 2.110 2.110 7148 CCMDBIO 2.110 0.010 0.5 2.110 15.48 3.79 588.6 1.970 0.621 1.180 1.180 9423 CHEEWAH 1.180 -0.010 30 1.180 7.13 1.69 49.7 3.290 1.780 2.650 2.630 2828 CIHLDG 2.630 -0.020 2.2 2.631 16.02 1.90 426.1 0.075 0.025 0.035 0.030 5188 CNOUHUA 0.035 0.005 200 0.033 — — 23.4 2.417 1.820 1.960 1.950 7205 COCOLND 1.950 -0.010 143.8 1.951 12.45 3.78 446.2 1.910 1.139 1.870 1.860 7202 CSCENIC 1.860 0.010 48.2 1.863 15.92 6.45 224.1 0.175 0.065 0.070 0.065 5214 CSL 0.070 UNCH 1485 0.067 1.20 — 87.0 0.075 0.035 0.045 0.040 7179 DBE 0.045 0.005 490.8 0.042 — — 48.7 0.965 0.760 — — 7119 DEGEM 0.900 — — — 15.41 2.78 120.6 65.980 45.094 60.300 59.500 3026 DLADY 60.000 UNCH 13.4 60.124 26.34 1.67 3,840.0 0.165 0.075 0.085 0.080 7198 DPS 0.085 UNCH 567 0.080 — — 50.0 0.265 0.030 0.045 0.045 7182 EKA 0.045 UNCH 490.5 0.045 — — 14.0 0.240 0.185 0.195 0.195 5091 EKOWOOD 0.195 UNCH 50 0.195 — — 32.8 0.460 0.220 0.225 0.225 9091 EMICO 0.225 -0.005 30 0.225 5.89 — 21.6 2.556 1.651 — — 7149 ENGKAH 1.830 — — — 43.57 3.55 129.5 0.325 0.205 0.220 0.220 7208 EURO 0.220 UNCH 100 0.220 18.97 — 53.5 0.940 0.640 — — 7094 EUROSP 0.800 — — — 166.67 — 35.5 27.000 17.342 24.520 24.400 3689 F&N 24.460 -0.040 90.3 24.460 22.84 2.56 8,971.4 0.940 0.500 0.700 0.690 9776 FARMBES 0.700 UNCH 7 0.691 5.06 — 42.8 1.205 0.834 — — 2755 FCW 0.965 — — — 57.78 1.55 241.2 1.207 0.415 0.725 0.705 8605 FFHB 0.725 0.020 42.9 0.710 8.79 1.38 62.3 0.966 0.641 0.830 0.820 9172 FPI 0.820 -0.010 7 0.823 10.98 8.54 202.8 1.640 0.830 1.260 1.220 5102 GCB 1.250 0.040 1205.5 1.248 12.68 — 600.2 2.738 2.083 2.630 2.590 5606 GOLDIS 2.630 0.030 13 2.599 15.42 0.76 1,606.4 1.200 0.940 1.110 1.110 5606PA GOLDIS-PA 1.110 UNCH 10 1.110 — 3.60 505.1 0.085 0.010 0.030 0.030 5187 HBGLOB 0.030 UNCH 50 0.030 — — 14.0 18.372 12.212 17.260 17.080 3255 HEIM 17.080 -0.160 27.8 17.176 19.42 3.22 5,159.8 9.800 5.115 9.330 9.290 3301 HLIND 9.330 0.030 179.5 9.302 11.64 3.43 3,059.3 1.169 0.841 0.940 0.925 5160 HOMERIZ 0.935 0.005 1536 0.935 9.33 4.81 280.5 0.508 0.365 0.380 0.375 7213 HOVID 0.380 0.005 490.9 0.376 16.96 2.63 310.8 5.220 3.114 — — 7141 HUATLAI 4.730 — — — 18.91 1.06 409.8 1.393 1.136 1.250 1.230 5024 HUPSENG 1.250 0.020 174 1.241 19.62 3.20 1,000.0 0.590 0.360 0.500 0.500 8478 HWATAI 0.500 -0.010 150 0.500 21.10 — 37.4 2.400 1.820 2.230 2.200 5107 IQGROUP 2.200 -0.020 142.8 2.214 9.16 4.55 193.7 1.560 0.820 1.560 1.490 7152 JAYCORP 1.530 0.010 2016.1 1.525 9.89 2.61 210.0 0.930 0.505 — — 8931 JERASIA 0.520 — — — 7.09 — 42.7 3.160 2.130 2.500 2.480 5247 KAREX 2.500 UNCH 65.3 2.490 39.12 0.67 2,505.9 4.000 2.379 3.780 3.760 7216 KAWAN 3.760 UNCH 10 3.766 23.87 0.66 1,013.8 0.205 0.025 — — 8303 KFM 0.045 — — — — — 3.1 0.910 0.720 0.790 0.770 6203 KHEESAN 0.790 UNCH 49 0.778 14.47 — 82.2 2.700 1.827 2.700 2.550 7062 KHIND 2.700 0.120 38.8 2.626 10.56 3.70 108.2 1.180 0.990 1.080 1.030 0002 KOTRA 1.040 -0.040 89 1.057 17.72 — 137.8 0.110 0.035 0.095 0.090 5172 KSTAR 0.090 UNCH 3162.2 0.091 — — 24.0 8.100 4.620 5.250 5.140 7006 LATITUD 5.240 -0.010 147.5 5.194 7.00 2.29 509.4 0.925 0.414 0.870 0.855 9385 LAYHONG 0.870 -0.010 987.8 0.861 395.45 0.57 529.6 0.335 0.250 0.285 0.270 8079 LEESK 0.275 -0.015 855.4 0.274 8.84 — 46.1 3.365 1.934 3.240 3.170 7089 LIIHEN 3.170 UNCH 531.2 3.201 7.89 4.73 570.6 0.885 0.710 0.725 0.720 7126 LONBISC 0.720 UNCH 100 0.721 7.28 — 134.3 1.798 1.280 1.340 1.330 7085 LTKM 1.330 -0.010 4.7 1.332 14.10 3.01 173.0 4.478 3.809 4.300 4.260 7087 MAGNI 4.290 0.030 250.8 4.276 7.75 3.15 698.1 0.105 0.020 — — 5189 MAXWELL 0.025 — — — — — 10.0 1.637 1.157 1.430 1.400 3662 MFLOUR 1.420 0.030 293.1 1.418 15.38 3.52 781.3 1.040 0.810 — — 7935 MILUX 0.945 — — — — — 51.4 1.244 1.040 — — 5886 MINTYE 1.040 — — — 24.24 4.81 63.2 5.120 4.423 4.900 4.850 5202 MSM 4.900 0.050 2 4.898 16.55 5.31 3,444.6 0.100 0.025 — — 5150 MSPORTS 0.035 — — — — — 21.2 1.626 1.163 1.250 1.220 3921 MWE 1.250 0.020 8 1.239 — 1.06 289.4 81.084 68.541 78.400 78.100 4707 NESTLE 78.100 -0.280 82.5 78.281 26.60 3.14 18,314.5 3.350 2.327 3.170 3.160 7060 NHFATT 3.170 UNCH 30 3.165 10.01 3.47 238.2 0.200 0.085 0.085 0.085 7139 NICE 0.085 -0.005 1326 0.085 21.25 — 25.7 0.370 0.255 0.275 0.275 7215 NIHSIN 0.275 UNCH 71 0.275 — — 65.5 1.067 0.675 0.830 0.815 5066 NTPM 0.825 UNCH 157.7 0.823 17.19 1.94 926.6 0.753 0.345 0.410 0.395 7071 OCR 0.395 -0.010 1042.5 0.401 — — 93.9 0.065 0.040 0.065 0.060 7071PA OCR-PA 0.060 -0.005 3970.1 0.061 — — 39.7 2.536 1.600 — — 7107 OFI 1.650 — — — 16.87 2.73 396.0 7.456 6.381 6.820 6.820 4006 ORIENT 6.820 -0.070 17.7 6.820 19.87 2.64 4,231.1 3.049 1.330 2.890 2.840 7052 PADINI 2.890 0.040 1026.6 2.869 13.83 3.46 1,901.4 38.617 20.181 36.580 36.100 3719 PANAMY 36.580 0.480 6.3 36.260 14.48 3.80 2,222.1 1.300 0.587 1.270 1.250 5022 PAOS 1.270 0.010 1.5 1.257 44.25 1.97 153.4 0.545 0.220 0.475 0.450 9407 PARAGON 0.455 -0.020 266 0.458 11.70 — 31.9 0.885 0.350 — — 6068 PCCS 0.410 — — — — — 24.6 1.120 0.700 1.030 0.990 5231 PELIKAN 1.010 0.020 1536.1 1.013 81.45 — 558.8 0.229 0.150 0.165 0.165 4081 PMCORP 0.165 UNCH 202 0.165 9.02 — 127.6 0.580 0.447 0.490 0.475 5080 POHKONG 0.490 0.005 277.1 0.480 18.28 2.04 201.1 2.043 1.373 1.650 1.620 7088 POHUAT 1.630 UNCH 561.7 1.632 7.93 3.68 369.7 16.701 14.990 16.220 15.960 4065 PPB 16.000 -0.060 355.7 16.049 23.61 1.56 18,968.0 0.614 0.468 — — 7190 PPG 0.550 — — — 16.42 2.27 55.0 2.077 1.280 1.600 1.560 8966 PRLEXUS 1.600 0.030 445.9 1.581 7.98 1.48 282.9 0.815 0.680 0.785 0.780 7134 PWF 0.785 UNCH 202.5 0.783 17.48 2.87 128.8 2.853 1.869 2.130 2.090 7237 PWROOT 2.090 -0.010 235.6 2.111 16.48 5.02 636.7 4.597 3.935 4.490 4.440 7084 QL 4.490 -0.010 15.4 4.478 28.97 0.95 5,603.7 1.650 1.400 — — 9946 REX 1.490 — — — — — 91.9 1.438 1.020 1.170 1.170 5252 SASBADI 1.170 UNCH 673 1.170 21.04 1.71 326.9 0.500 0.270 0.300 0.290 5157 SAUDEE 0.295 -0.005 1143.6 0.292 — — 35.4 1.250 0.595 1.170 1.150 7180 SERNKOU 1.160 -0.030 55.2 1.160 103.57 — 139.2 1.430 0.550 0.605 0.595 7165 SGB 0.595 -0.005 2719.5 0.604 148.75 — 77.5 0.120 0.055 0.065 0.065 7165PA SGB-PA 0.065 UNCH 2145 0.065 — — 31.7 2.450 1.598 1.820 1.800 7412 SHH 1.800 -0.010 25 1.804 7.63 5.56 90.0 1.234 0.704 0.835 0.825 7246 SIGN 0.825 -0.010 331.4 0.830 4.19 6.06 198.3 0.060 0.035 0.055 0.055 8532 SINOTOP 0.055 UNCH 6021.5 0.055 68.75 — 108.6 0.405 0.150 — — 7943 SNC 0.235 — — — 58.75 — 15.5 2.750 1.808 2.450 2.430 7103 SPRITZER 2.450 0.020 16 2.447 12.51 2.24 411.2 1.505 0.767 1.160 1.140 7186 SWSCAP 1.140 UNCH 75.8 1.155 20.65 0.88 166.3 0.745 0.450 0.545 0.530 7082 SYF 0.545 0.010 1188.5 0.538 8.65 — 333.6 0.450 0.290 0.335 0.335 7211 TAFI 0.335 UNCH 15.5 0.335 — — 26.8 2.920 1.830 1.930 1.900 4405 TCHONG 1.900 -0.020 14.2 1.922 — 2.11 1,276.8 1.419 0.484 0.995 0.975 7200 TEKSENG 0.980 -0.010 2887.5 0.984 6.03 3.06 339.7 1.702 1.130 1.200 1.160 7252 TEOSENG 1.170 UNCH 80.3 1.172 11.87 2.99 351.0 1.610 1.212 — — 9369 TGL 1.380 — — — 10.33 5.43 56.2 0.560 0.435 — — 7230 TOMEI 0.460 — — — 31.29 2.17 63.8 0.510 0.420 0.475 0.475 7176 TPC 0.475 UNCH 160 0.475 20.13 — 111.0 8.624 4.880 5.970 5.780 4588 UMW 5.780 -0.120 227.6 5.852 — 3.46 6,752.7 2.332 1.583 2.030 2.030 7757 UPA 2.030 UNCH 4.1 2.030 9.05 4.43 161.6 1.008 0.601 0.835 0.835 7203 WANGZNG 0.835 UNCH 13 0.835 8.91 3.59 133.6 0.063 0.025 0.030 0.030 5156 XDL 0.030 UNCH 590 0.030 25.00 — 80.9 0.540 0.390 — — 7121 XIANLNG 0.430 — — — — — 31.3 0.607 0.085 0.095 0.090 5155 XINQUAN 0.090 UNCH 96.8 0.095 — 20.33 43.7 2.450 1.748 2.250 2.240 5584 YEELEE 2.240 0.010 34.4 2.241 10.04 1.56 422.0 1.360 0.210 1.230 1.200 7184 YEN 1.200 -0.020 16.2 1.211 — — 165.0 1.370 0.876 1.170 1.150 5159 YOCB 1.150 -0.020 27 1.152 9.17 3.48 184.0 2.829 2.040 2.240 2.180 7178 YSPSAH 2.180 -0.040 130 2.216 10.51 2.98 293.6 1.638 1.330 1.390 1.370 5131 ZHULIAN 1.370 UNCH 39.7 1.374 14.18 4.38 630.2INDUSTRIAL PRODUCTS 1.460 0.942 1.320 1.310 0012 3A 1.310 -0.010 80.9 1.315 20.31 1.07 515.6 0.160 0.090 0.090 0.090 7086 ABLEGRP 0.090 UNCH 22 0.090 — — 23.8 0.590 0.470 — — 7061 ABRIC 0.505 — — — — — 74.3 0.315 0.230 — — 7131 ACME 0.230 — — — 11.92 — 50.3 1.000 0.650 — — 7191 ADVENTA 0.710 — — — 84.52 — 108.5 2.840 1.795 — — 9148 ADVPKG 2.280 — — — 15.91 5.26 46.7

0.180 0.100 0.180 0.170 7146 AEM 0.175 UNCH 4459.1 0.174 — — 47.1 0.480 0.355 — — 5198 AFUJIYA 0.390 — — — 21.79 — 70.2 0.635 0.260 0.560 0.550 2682 AISB 0.550 -0.020 67.8 0.557 — — 72.5 1.141 0.775 0.795 0.785 7609 AJIYA 0.790 -0.005 470.4 0.789 14.71 1.90 240.6 0.340 0.090 — — 9954 AKNIGHT 0.120 — — — — — 7.0 1.010 0.660 0.970 0.950 2674 ALCOM 0.970 UNCH 341 0.969 43.89 5.15 130.3 0.460 0.320 0.380 0.370 4758 ANCOM 0.380 0.010 75.8 0.374 — — 83.2 2.118 0.602 2.060 2.020 6556 ANNJOO 2.060 0.040 1238.7 2.047 — — 1,076.8 0.360 0.120 0.210 0.200 9342 ANZO 0.210 -0.005 2114.9 0.203 — — 62.8 1.465 0.963 — — 5568 APB 0.980 — — — — 6.63 110.6 4.106 3.340 3.350 3.340 5015 APM 3.350 UNCH 73.1 3.350 16.34 5.07 675.4 0.985 0.488 0.925 0.910 7214 ARANK 0.925 0.015 2102.5 0.920 7.01 2.43 111.0 0.825 0.591 0.750 0.740 7162 ASTINO 0.745 -0.005 559 0.747 6.72 2.62 204.2 0.920 0.448 0.895 0.870 7099 ATTA 0.870 UNCH 34.2 0.877 — 4.60 62.9 1.660 0.600 — — 7181 ATURMJU 0.905 — — — — — 55.3 2.480 1.410 1.800 1.790 8133 BHIC 1.800 UNCH 27.6 1.798 — — 447.2 0.795 0.350 0.485 0.460 7005 BIG 0.485 -0.005 30.1 0.465 — — 23.3 0.140 0.095 0.105 0.100 7187 BKOON 0.105 UNCH 2.5 0.104 — — 29.1 1.216 0.956 0.985 0.980 0168 BOILERM 0.980 -0.010 14.3 0.982 17.19 1.53 505.7 3.100 2.020 — — 6297 BOXPAK 2.020 — — — 25.19 — 121.2 1.936 1.246 1.560 1.540 5100 BPPLAS 1.550 0.010 150 1.549 11.65 2.58 290.9 0.450 0.285 0.375 0.365 9938 BRIGHT 0.365 -0.005 355.2 0.368 — — 60.0 0.310 0.185 — — 7221 BSLCORP 0.250 — — — — — 24.5 0.420 0.195 0.250 0.245 7188 BTM 0.250 0.005 267.6 0.245 — — 31.3 5.110 2.570 3.790 3.740 5105 CANONE 3.780 -0.020 157.2 3.768 9.49 1.06 726.3 0.135 0.025 0.030 0.025 5229 CAP 0.030 UNCH 2006.3 0.025 1.42 — 40.9 2.315 1.810 2.000 1.990 7076 CBIP 1.990 UNCH 34.8 1.998 12.34 3.02 1,071.1 1.071 0.820 0.920 0.905 2879 CCM 0.920 0.005 133.6 0.916 11.90 5.43 421.0 1.740 1.277 1.740 1.730 7171 CENBOND 1.740 UNCH 157.4 1.739 13.64 1.72 208.8 2.560 1.400 — — 8435 CEPCO 1.710 — — — 5.33 — 76.6 1.450 1.100 — — 8044 CFM 1.110 — — — — — 45.5 2.284 1.301 1.740 1.720 5007 CHINWEL 1.730 -0.020 601.5 1.727 8.18 4.91 518.2 2.300 1.304 2.040 1.850 5797 CHOOBEE 2.030 0.180 379.5 1.970 20.08 1.97 223.1 0.950 0.640 — — 8052 CICB 0.950 — — — — — 43.5 0.075 0.040 — — 7018 CME 0.055 — — — — — 24.3 5.389 3.170 3.900 3.870 2852 CMSB 3.900 0.040 246.8 3.893 26.35 1.15 4,190.1 0.360 0.130 0.300 0.300 7986 CNASIA 0.300 -0.020 8 0.300 — — 13.6 2.140 1.411 1.530 1.510 5071 COASTAL 1.510 -0.020 76 1.510 12.09 1.99 802.7 0.990 0.290 0.740 0.720 7195 COMCORP 0.725 -0.015 1689.4 0.725 5.46 — 101.5 1.000 0.605 0.755 0.750 2127 COMFORT 0.750 -0.005 221.6 0.751 14.51 — 419.1 2.080 0.904 2.080 2.010 5094 CSCSTEL 2.070 0.070 4961.8 2.049 10.26 3.86 786.6 0.070 0.005 — — 0022 CYBERT 0.005 — — — — — 0.5 0.974 0.660 — — 7157 CYL 0.850 — — — 15.86 7.06 85.0 0.440 0.340 — — 5082 CYMAO 0.340 — — — — — 25.5 2.352 2.070 2.210 2.140 8125 DAIBOCI 2.200 -0.010 29.2 2.187 27.16 2.52 601.1 0.445 0.285 0.355 0.350 8176 DENKO 0.355 UNCH 162 0.355 12.12 — 37.1 0.300 0.170 0.285 0.275 7114 DNONCE 0.275 -0.005 1771.5 0.280 — — 49.6 0.635 0.280 — — 5835 DOLMITE 0.310 — — — — — 83.3 0.475 0.382 — — 5835PA DOLMITE-PA 0.410 — — — — — 5.1 0.850 0.370 — — 5265 DOLPHIN 0.380 — — — 31.15 — 84.4 1.285 1.071 1.160 1.150 7169 DOMINAN 1.160 -0.010 9.9 1.150 16.29 3.45 191.4 1.528 0.764 1.440 1.400 1619 DRBHCOM 1.410 0.020 8979.2 1.422 — 1.42 2,725.9 0.689 0.281 0.610 0.600 7233 DUFU 0.600 0.005 691.6 0.604 7.50 3.50 105.3 1.260 0.580 0.885 0.875 8907 EG 0.885 0.005 802.5 0.881 5.75 — 187.2 1.420 0.960 0.990 0.985 9016 EKSONS 0.985 -0.015 30 0.986 — — 161.7 0.960 0.190 0.730 0.715 7217 EMETALL 0.730 0.015 1327.7 0.726 5.72 3.42 125.0 0.759 0.520 0.605 0.605 7773 EPMB 0.605 -0.005 1 0.605 — 1.65 100.4 1.683 0.735 1.090 1.050 5101 EVERGRN 1.060 UNCH 6404.4 1.062 9.87 0.94 897.2 1.552 0.735 0.750 0.740 7249 EWEIN 0.740 -0.015 21 0.745 8.79 0.68 164.7 1.176 0.935 1.100 1.080 2984 FACBIND 1.100 0.030 54 1.099 20.64 2.27 93.7 3.022 2.270 2.360 2.340 7229 FAVCO 2.340 UNCH 39.9 2.344 5.90 6.41 518.1 0.835 0.410 0.605 0.595 0149 FIBON 0.605 -0.005 33.1 0.599 11.86 2.07 59.3 2.266 2.122 2.160 2.160 3107 FIMACOR 2.160 -0.020 3.6 2.160 10.33 6.94 529.8 3.090 1.420 1.690 1.660 5197 FLBHD 1.680 0.020 1307.9 1.678 6.12 8.93 173.4 1.570 1.370 — — 3611 GBH 1.420 — — — — 10.56 265.0 2.970 0.990 1.490 1.470 7197 GESHEN 1.490 0.020 32.9 1.488 10.04 — 119.2 0.075 0.040 0.045 0.040 5220 GLOTEC 0.045 UNCH 48 0.041 — — 242.2 0.735 0.180 0.715 0.690 7192 GOODWAY 0.690 -0.005 392 0.699 — — 76.3 0.130 0.075 0.095 0.095 7096 GPA 0.095 -0.005 615 0.095 — — 93.1 0.565 0.295 — — 5649 GPHAROS 0.295 — — — — — 39.7 0.312 0.202 — — 0136 GREENYB 0.220 — — — 28.21 3.41 73.4 0.135 0.085 0.100 0.100 7077 GSB 0.100 UNCH 226.5 0.100 — — 52.8 1.038 0.749 0.850 0.845 3247 GUH 0.850 -0.015 33.3 0.849 26.81 4.12 236.2 0.750 0.365 0.390 0.390 5151 HALEX 0.390 -0.005 35 0.390 — — 41.3 6.068 3.776 4.930 4.780 5168 HARTA 4.920 UNCH 544.3 4.888 32.16 1.63 8,074.4 3.500 2.640 3.280 3.260 7105 HCK 3.280 UNCH 3.5 3.274 29.50 — 181.8 1.746 1.033 1.450 1.410 5095 HEVEA 1.420 0.020 15040.7 1.432 7.91 2.68 701.2 0.985 0.830 0.955 0.940 3298 HEXZA 0.955 0.015 240.9 0.949 11.94 4.71 191.4 0.525 0.180 0.305 0.295 5072 HIAPTEK 0.305 0.015 10950.6 0.300 — 0.98 393.1 0.655 0.130 0.250 0.235 5199 HIBISCS 0.245 0.005 30125.9 0.243 — — 343.6 1.768 0.870 — — 7033 HIGHTEC 1.020 — — — 6.50 3.43 41.4 0.970 0.637 0.820 0.820 8443 HIL 0.820 -0.030 1 0.820 16.30 1.83 228.5 0.400 0.275 0.285 0.285 5165 HOKHENG 0.285 UNCH 11 0.285 28.22 — 22.8 0.070 0.020 0.025 0.025 2739 HUAAN 0.025 -0.005 78.5 0.025 — — 28.1 3.496 2.852 3.100 3.090 5000 HUMEIND 3.100 UNCH 430.9 3.100 30.48 0.97 1,485.2 0.130 0.050 0.055 0.050 9601 HWGB 0.050 -0.005 195.6 0.052 — — 45.4 0.960 0.760 — — 9687 IDEALUBB 0.780 — — — 458.8 — 86.2 2.190 1.518 2.050 1.980 7222 IMASPRO 1.980 -0.070 4.3 1.991 17.28 1.77 158.4 0.360 0.220 — — 7183 IRETEX 0.250 — — — — — 33.4 0.120 0.060 0.065 0.065 7223 JADI 0.065 -0.005 22 0.065 10.66 — 61.2 0.170 0.140 0.155 0.155 8648 JASKITA 0.155 UNCH 140 0.155 — 1.94 69.7 0.280 0.055 0.080 0.075 2747 JAVA 0.080 0.015 30 0.075 — — 13.9 1.320 0.950 — — 7043 JMR 1.050 — — — 32.01 2.86 133.1 1.040 0.840 0.995 0.975 7167 JOHOTIN 0.985 -0.005 2224.6 0.986 11.95 1.52 245.1 1.810 1.050 1.370 1.320 4383 JTIASA 1.340 0.030 2790.4 1.348 21.97 0.75 1,304.8 0.230 0.160 0.180 0.175 0054 KARYON 0.180 UNCH 108 0.180 20.00 2.22 85.6 1.290 0.466 0.845 0.780 7199 KEINHIN 0.800 0.020 76 0.795 8.93 1.88 79.2 0.985 0.400 0.420 0.415 6211 KIALIM 0.420 UNCH 16.6 0.415 — — 26.0 3.418 2.770 2.850 2.830 3522 KIANJOO 2.830 UNCH 203.3 2.835 10.56 0.71 1,257.0 2.516 1.590 1.660 1.640 5371 KIMHIN 1.650 UNCH 7 1.656 13.77 3.64 256.8 0.140 0.045 0.060 0.055 5060 KINSTEL 0.060 0.005 5572.1 0.060 — — 63.0 1.815 1.350 1.410 1.410 9466 KKB 1.410 UNCH 5.1 1.410 — 2.84 363.5 0.570 0.395 0.415 0.405 7164 KNM 0.410 UNCH 4406.3 0.410 32.80 — 884.0 2.703 1.125 1.300 1.150 6971 KOBAY 1.280 0.060 59.6 1.234 20.13 2.34 87.1 0.677 0.306 0.345 0.325 7017 KOMARK 0.340 -0.005 749.7 0.334 — — 42.4 9.402 5.839 6.910 6.710 7153 KOSSAN 6.860 -0.050 103.5 6.818 21.72 1.75 4,386.7 0.600 0.370 0.435 0.435 7130 KPOWER 0.435 UNCH 6 0.435 — — 24.5 5.671 4.700 4.800 4.760 3476 KSENG 4.790 -0.010 48.5 4.796 29.05 2.09 1,731.5 0.520 0.346 0.440 0.420 5192 KSSC 0.440 0.030 239.4 0.432 18.26 1.82 42.2 0.560 0.300 — — 8362 KYM 0.360 — — — — — 54.0 9.292 7.304 8.130 8.020 3794 LAFMSIA 8.050 0.070 187.7 8.094 44.72 2.48 6,840.0 0.700 0.428 0.640 0.615 9326 LBALUM 0.635 0.020 2557.4 0.629 8.28 3.15 157.8 0.777 0.525 0.555 0.540 5092 LCTH 0.550 -0.005 78.4 0.548 9.09 7.27 198.0 0.615 0.407 0.550 0.530 5232 LEONFB 0.550 0.015 1998.7 0.539 8.41 2.73 170.5 0.170 0.100 0.105 0.100 8745 LEWEKO 0.105 UNCH 101 0.103 — — 33.8 0.090 0.020 0.035 0.030 2887 LIONDIV 0.035 UNCH 1643.1 0.035 — — 48.7 0.525 0.220 0.455 0.420 4235 LIONIND 0.445 0.025 2935.8 0.438 — — 319.5 0.570 0.110 0.450 0.410 9881 LSTEEL 0.445 0.040 1587.1 0.429 2225 — 57.0 0.090 0.060 0.060 0.060 5068 LUSTER 0.060 UNCH 947.5 0.060 — — 103.9 3.921 3.400 — — 9199 LYSAGHT 3.440 — — — 10.77 4.36 143.0 1.060 0.340 0.935 0.875 5098 MASTEEL 0.935 0.065 4948.2 0.907 — 0.70 228.6 0.699 0.530 0.600 0.600 7029 MASTER 0.600 0.025 0.3 0.600 11.13 1.67 32.8 0.650 0.360 0.650 0.650 8095 MAYPAK 0.650 0.005 90.1 0.650 — — 27.3 1.100 0.736 1.000 0.995 5152 MBL 0.995 UNCH 115.1 0.996 9.78 2.01 91.5 1.080 0.700 0.700 0.700 7004 MCEHLDG 0.700 UNCH 3 0.700 — — 31.1 0.640 0.175 0.590 0.525 3778 MELEWAR 0.585 0.055 19390.7 0.558 16.25 — 131.9 0.657 0.490 0.545 0.545 5223 MENTIGA 0.545 0.025 15 0.545 30.79 1.83 38.2 1.571 1.038 1.230 1.210 8192 MERCURY 1.210 -0.020 11 1.229 8.44 4.96 48.6 1.885 1.595 — — 6149 METROD 1.800 — — — 10.98 3.33 216.0 1.340 0.800 0.970 0.960 5001 MIECO 0.960 UNCH 751.4 0.961 4.95 — 201.6 0.110 0.060 0.080 0.075 7219 MINETEC 0.075 -0.005 1320.8 0.078 — — 52.1 0.784 0.625 0.670 0.655 5576 MINHO 0.665 -0.005 219.8 0.662 10.26 — 146.1 3.600 2.210 3.320 3.320 5916 MSC 3.320 UNCH 14 3.320 12.03 — 332.0 2.564 1.134 1.670 1.630 3883 MUDA 1.630 -0.040 6 1.663 14.65 1.84 497.2 1.010 0.210 0.970 0.865 5087 MYCRON 0.965 0.100 6328.5 0.925 11.29 — 273.6 0.200 0.050 0.055 0.055 7002 NAKA 0.055 UNCH 5.2 0.055 — — 3.0 0.645 0.100 0.270 0.265 5025 NWP 0.270 UNCH 1233.6 0.269 — — 86.4 0.705 0.502 0.680 0.660 4944 NYLEX 0.660 -0.010 616.2 0.666 11.38 3.03 128.3 1.380 0.803 1.330 1.310 7140 OKA 1.320 UNCH 57.7 1.318 9.38 3.79 210.2 1.221 0.896 0.945 0.940 5065 ORNA 0.940 -0.005 7 0.944 11.06 3.19 70.7 0.095 0.050 0.060 0.060 7225 PA 0.060 UNCH 200 0.060 — — 56.8 7.432 5.887 6.850 6.790 5183 PCHEM 6.800 -0.010 5144 6.801 20.73 2.50 54,400.0 2.070 1.540 1.980 1.910 5271 PECCA 1.930 -0.040 349.7 1.937 19.55 2.07 362.8 0.825 0.537 0.780 0.765 9997 PENSONI 0.770 -0.010 205.1 0.770 8.83 3.90 99.8 6.310 4.277 6.280 6.230 5436 PERSTIM 6.230 -0.060 2.2 6.263 11.58 6.10 618.7 0.165 0.090 0.095 0.090 5146 PERWAJA 0.090 -0.005 276.3 0.090 — — 50.4 23.014 20.277 22.260 21.600 6033 PETGAS 21.600 -0.180 1488 21.789 27.22 2.78 42,740.6 6.982 2.913 4.390 4.300 3042 PETRONM 4.370 0.080 132.7 4.355 6.99 4.58 1,179.9 2.731 1.780 1.810 1.800 7095 PIE 1.800 -0.010 92 1.804 18.39 1.33 691.3 1.649 0.867 1.530 1.500 7172 PMBTECH 1.530 0.020 52.5 1.506 12.92 2.61 122.4 4.500 1.774 4.430 4.370 8869 PMETAL 4.380 0.010 587.1 4.390 18.65 2.05 5,762.5 0.650 0.430 0.485 0.485 6637 PNEPCB 0.485 -0.010 9.2 0.485 — — 63.8 0.460 0.280 0.310 0.310 8117 POLY 0.310 -0.010 1 0.310 11.65 — 49.6 1.170 0.810 0.940 0.940 8273 PPHB 0.940 UNCH 5 0.940 7.20 — 103.3 0.380 0.300 0.355 0.350 9458 PREMIER 0.350 0.010 85 0.351 76.09 — 118.0 0.750 0.396 0.675 0.650 9873 PRESTAR 0.660 0.015 668 0.663 7.94 3.03 121.5 0.710 0.337 0.690 0.680 7168 PRG 0.685 -0.010 256 0.684 24.64 0.73 202.9 0.180 0.085 0.110 0.090 7123 PWORTH 0.110 0.010 6682.2 0.102 37.93 — 72.0 1.640 1.180 — — 7544 QUALITY 1.290 — — — 7.15 — 74.8 0.950 0.720 — — 7498 RALCO 0.730 — — — 29.08 — 30.6 6.290 5.450 5.750 5.750 7765 RAPID 5.750 0.010 10 5.750 — — 502.9 0.505 0.253 0.460 0.450 7232 RESINTC 0.455 UNCH 204 0.454 12.78 2.64 62.4 0.941 0.702 0.820 0.815 7803 RUBEREX 0.815 UNCH 101.8 0.815 11.53 3.68 186.9 4.147 3.456 4.000 3.990 5134 SAB 4.000 UNCH 59.6 4.000 23.42 1.25 547.7 7.980 5.499 6.970 6.810 9822 SAM 6.960 0.040 10.7 6.870 10.33 2.15 876.2

* Volume Weighted Average Price # PE is calculated based on latest 12 months reported Earnings Per Share

MarketsB U R S A M A L A Y S I A M A I N M A R K E T

2 6 TUESDAY OCTOBER 18, 2016 • THEEDGE FINANCIAL DAILY



1.205 0.829 0.915 0.915 7811 SAPIND 0.915 -0.015 3 0.915 8.95 6.56 66.6 1.800 1.220 1.240 1.230 5170 SCABLE 1.240 0.010 119.9 1.237 16.38 4.84 393.1 3.607 2.713 3.280 3.250 7247 SCGM 3.280 0.010 33.9 3.268 20.11 2.74 433.0 0.990 0.610 — — 9237 SCIB 0.610 — — — — — 44.9 6.990 6.010 6.660 6.550 4731 SCIENTX 6.600 0.050 186.1 6.619 12.46 2.42 3,036.0 0.475 0.280 0.300 0.300 7239 SCNWOLF 0.300 UNCH 50.5 0.300 — — 26.3 0.320 0.135 — — 7366 SCOMIEN 0.145 — — — — — 49.6 1.304 0.647 0.810 0.795 7073 SEACERA 0.795 -0.035 45 0.800 40.77 3.77 187.0 0.330 0.190 0.195 0.195 5145 SEALINK 0.195 -0.015 20 0.195 — — 97.5 0.770 0.250 — — 5163 SEB 0.275 — — — — — 22.0 6.350 2.600 3.100 3.050 4324 SHELL 3.050 UNCH 25.8 3.058 6.07 — 915.0 0.673 0.410 0.440 0.440 5181 SIGGAS 0.440 0.005 29 0.440 9.67 2.73 82.5 0.710 0.480 — — 7115 SKBSHUT 0.630 — — — — — 25.2 1.431 1.083 1.350 1.330 7155 SKPRES 1.340 UNCH 2009.6 1.340 18.13 2.61 1,579.0 3.073 1.614 — — 7248 SLP 2.390 — — — 21.45 1.26 591.1 0.818 0.587 — — 7132 SMISCOR 0.610 — — — — 4.10 27.3 1.430 0.690 1.310 1.270 5665 SSTEEL 1.300 0.040 1004 1.291 — — 546.4 0.425 0.175 0.230 0.175 7143 STONE 0.215 -0.030 853.8 0.202 — — 19.3 2.240 1.400 — — 6904 SUBUR 1.480 — — — — — 309.3 2.504 1.532 1.760 1.730 7207 SUCCESS 1.760 0.020 30 1.735 8.78 4.55 211.2 2.570 1.651 2.440 2.410 7235 SUPERLN 2.440 0.040 104.7 2.420 10.27 2.25 195.2 3.501 1.986 2.300 2.260 7106 SUPERMX 2.280 -0.010 1010.7 2.277 14.95 1.75 1,550.8 4.730 3.410 3.640 3.550 5012 TAANN 3.620 0.040 414.3 3.613 9.51 3.45 1,610.3 0.545 0.240 0.460 0.435 4022 TADMAX 0.440 -0.010 702.6 0.449 — — 215.5 0.830 0.300 0.340 0.310 5149 TAS 0.315 -0.015 74.1 0.315 — — 56.7 15.100 13.376 14.880 14.860 4448 TASEK 14.860 0.020 1.2 14.863 23.40 6.73 1,837.0 14.940 14.940 — — 4448P TASEK-PA 14.940 — — — — 7.36 5.0 0.190 0.090 0.115 0.115 5178 TATGIAP 0.115 UNCH 15.1 0.115 — — 17.8 0.455 0.220 — — 7097 TAWIN 0.390 — — — — — 25.1 2.210 1.020 1.910 1.880 7439 TECGUAN 1.900 -0.020 141.2 1.887 7.23 — 76.2 1.720 0.955 — — 9741 TECNIC 1.150 — — — — — 46.5 0.495 0.245 0.310 0.310 6378 TEKALA 0.310 -0.025 8.9 0.310 — — 47.4 4.515 1.843 4.000 3.970 7034 TGUAN 3.970 -0.040 91.9 3.978 7.68 1.51 424.9 2.499 1.273 2.050 2.000 7374 TIENWAH 2.020 -0.020 126.9 2.029 6.12 7.77 292.4 0.800 0.600 — — 7854 TIMWELL 0.610 — — — 35.06 — 54.3 2.294 1.540 1.620 1.600 7285 TOMYPAK 1.620 UNCH 51.1 1.612 10.55 5.19 266.0 2.090 1.714 2.000 2.000 5010 TONGHER 2.000 UNCH 4 2.000 19.01 5.00 314.9 6.940 4.200 4.990 4.890 7113 TOPGLOV 4.930 -0.080 3365.7 4.932 15.44 2.43 6,186.5 0.695 0.510 — — 7173 TOYOINK 0.525 — — — 29.01 1.90 56.2 0.270 0.145 — — 4359 TURIYA 0.165 — — — 91.67 — 37.7 1.780 1.335 1.780 1.760 7100 UCHITEC 1.770 0.010 76.3 1.772 14.14 5.96 785.3 6.813 3.545 4.100 3.980 7133 ULICORP 4.030 0.030 10.1 3.994 17.07 2.98 585.2 1.460 0.763 1.360 1.340 7227 UMSNGB 1.360 UNCH 24.2 1.354 10.63 2.21 108.8 1.700 0.610 1.270 1.230 4995 VERSATL 1.260 0.040 3646.2 1.253 — — 147.8 1.633 1.130 1.460 1.430 6963 VS 1.440 -0.010 3016.7 1.442 14.13 2.71 1,694.5 1.236 0.631 0.870 0.860 5142 WASEONG 0.860 UNCH 1005.6 0.863 — 1.74 666.4 0.450 0.290 0.395 0.395 7226 WATTA 0.395 UNCH 30 0.395 — — 33.4 2.108 1.402 1.580 1.540 7111 WEIDA 1.560 -0.020 21.2 1.554 8.15 1.92 208.0 2.781 1.793 1.950 1.950 7231 WELLCAL 1.950 -0.010 15 1.950 17.89 4.72 646.7 0.740 0.490 0.690 0.685 7050 WONG 0.685 -0.005 53.5 0.688 — — 62.8 0.600 0.405 — — 7025 WOODLAN 0.535 — — — 16.98 — 21.4 2.345 1.980 — — 5009 WTHORSE 2.000 — — — 20.58 5.00 480.0 1.506 0.971 1.080 1.050 4243 WTK 1.060 UNCH 1113.3 1.062 9.04 2.35 510.2 1.391 0.830 0.995 0.980 7245 WZSATU 0.995 UNCH 114.5 0.993 15.89 1.68 338.7 1.080 0.790 0.850 0.840 5048 YILAI 0.840 -0.010 370 0.840 15.67 2.38 134.4 0.400 0.160 0.345 0.325 7020 YKGI 0.340 0.015 2781 0.336 — — 118.4 0.795 0.450 0.550 0.520 7014 YLI 0.545 0.030 18 0.544 — — 56.1CONSTRUCTION 0.560 0.295 — — 7007 ARK 0.300 — — — — — 14.6 0.752 0.539 0.625 0.620 7078 AZRB 0.625 0.005 133.3 0.621 14.88 3.20 302.2 0.738 0.572 0.645 0.640 6173 BDB 0.645 0.005 8.7 0.642 7.47 6.20 196.0 0.650 0.390 0.395 0.390 5190 BENALEC 0.390 -0.005 618.3 0.391 17.73 1.79 316.6 0.490 0.360 0.445 0.430 5932 BPURI 0.440 0.020 2416.6 0.439 36.36 4.55 106.9 0.963 0.791 0.830 0.820 8761 BREM 0.830 UNCH 29 0.825 25.00 3.47 286.7 1.054 0.805 0.960 0.950 8591 CRESBLD 0.960 -0.005 286 0.953 22.27 4.17 169.8 1.818 1.500 — — 7528 DKLS 1.520 — — — 6.23 1.97 140.9 1.810 0.858 1.800 1.780 5253 ECONBHD 1.790 -0.010 377 1.792 14.52 1.96 957.7 2.110 0.889 2.090 2.070 8877 EKOVEST 2.080 UNCH 1078.4 2.080 11.37 0.96 1,779.3 0.625 0.466 0.515 0.500 7047 FAJAR 0.500 -0.010 52 0.511 14.01 2.50 181.4 3.040 1.363 3.000 2.970 9261 GADANG 2.970 -0.010 1073.1 2.981 7.15 2.36 768.1 4.939 4.129 4.880 4.840 5398 GAMUDA 4.870 0.020 1342 4.860 18.75 2.46 11,794.1 1.200 0.780 0.945 0.920 5226 GBGAQRS 0.920 -0.025 995.1 0.927 — — 359.6 1.140 0.750 0.800 0.785 5169 HOHUP 0.795 -0.010 197.6 0.791 3.63 — 278.2 1.240 1.240 — — 5169PA HOHUP-PA 1.240 — — — — 2.02 8.4 1.290 1.290 — — 5169PB HOHUP-PB 1.290 — — — — 1.16 23.3 2.103 1.601 1.750 1.730 6238 HSL 1.750 UNCH 357 1.746 14.16 1.37 1,019.7 3.566 3.066 3.310 3.240 3336 IJM 3.290 0.030 3002.2 3.285 20.55 2.13 11,848.9 0.804 0.602 0.655 0.640 5268 IKHMAS 0.650 -0.005 358.1 0.647 14.48 1.54 338.0 0.672 0.480 0.655 0.640 8834 IREKA 0.655 -0.005 29 0.644 — — 111.9 1.280 0.805 1.040 1.010 4723 JAKS 1.030 0.010 1037.6 1.022 9.81 — 451.5 0.370 0.195 0.275 0.240 9083 JETSON 0.270 0.030 1860.7 0.261 — — 50.8 2.487 1.386 2.320 2.290 7161 KERJAYA 2.300 UNCH 145.7 2.294 6.33 1.74 1,168.3 2.260 1.249 2.150 2.120 5171 KIMLUN 2.130 -0.020 116.7 2.134 7.57 2.72 660.9 1.540 1.010 — — 9628 LEBTECH 1.510 — — — — — 206.1 0.960 0.660 0.710 0.700 5129 MELATI 0.705 -0.020 35 0.704 4.36 2.48 84.6 0.450 0.240 0.260 0.245 5006 MERGE 0.255 0.005 45 0.257 — — 17.1 1.470 0.983 1.400 1.380 9571 MITRA 1.380 -0.010 750 1.389 9.11 3.62 923.9 0.895 0.350 0.775 0.770 7595 MLGLOBAL 0.775 UNCH 84 0.772 6.69 — 69.5 0.440 0.210 0.390 0.365 5924 MTDACPI 0.385 0.010 838.9 0.377 — — 89.2 1.520 0.975 0.995 0.980 5085 MUDAJYA 0.995 0.015 213.6 0.988 — — 549.7 2.465 2.034 2.290 2.260 5703 MUHIBAH 2.260 -0.020 267.9 2.278 11.51 2.21 1,089.6 0.556 0.322 0.420 0.415 8311 PESONA 0.420 0.005 986.1 0.419 16.47 2.38 275.0 1.403 1.150 — — 7055 PLB 1.240 — — — 49.21 4.03 113.2 1.783 1.327 1.680 1.650 5070 PRTASCO 1.670 0.010 1106.1 1.666 8.81 5.39 567.5 0.165 0.110 0.115 0.115 7145 PSIPTEK 0.115 UNCH 77 0.115 12.11 — 36.5 3.780 3.095 3.470 3.460 9598 PTARAS 3.460 UNCH 11 3.462 31.60 5.78 566.6 0.912 0.405 0.480 0.465 5205 SENDAI 0.475 0.005 1573.8 0.476 — 1.05 367.7 1.730 1.156 1.670 1.640 5263 SUNCON 1.650 UNCH 606.4 1.653 18.50 2.73 2,133.3 0.475 0.300 0.370 0.360 9717 SYCAL 0.360 -0.005 668.9 0.364 12.68 — 115.3 0.513 0.327 0.425 0.415 5054 TRC 0.415 -0.015 198.7 0.422 8.68 1.57 199.4 2.400 1.140 1.870 1.820 5622 TRIPLC 1.870 0.020 54.2 1.829 5.11 — 126.7 0.728 0.440 0.460 0.455 5042 TSRCAP 0.460 UNCH 92.1 0.459 54.76 — 80.2 0.150 0.100 0.130 0.130 7070 VIZIONE 0.130 UNCH 503.5 0.130 433.33 — 37.9 1.050 0.820 0.900 0.900 3565 WCEHB 0.900 UNCH 14 0.900 36.44 — 902.5 1.760 1.293 1.760 1.700 9679 WCT 1.700 UNCH 7094.4 1.727 10.84 1.76 2,138.7 0.865 0.550 0.585 0.585 7028 ZECON 0.585 -0.010 3.9 0.585 2.24 — 69.7 0.300 0.145 0.170 0.165 2283 ZELAN 0.170 0.005 318.3 0.168 — — 143.6TRADING SERVICES 0.495 0.175 0.400 0.390 5238 AAX 0.400 0.005 5069.4 0.396 67.80 — 1,659.3 0.507 0.220 — — 5166 AEGB 0.230 — — — — 43.48 94.3 3.000 2.434 2.850 2.800 6599 AEON 2.850 UNCH 82.6 2.838 34.46 1.40 4,001.4 0.245 0.170 0.180 0.170 7315 AHB 0.180 UNCH 49 0.175 15.52 — 28.8 3.300 1.238 2.810 2.780 5099 AIRASIA 2.800 0.020 6093.7 2.796 5.70 1.43 7,792.3 7.300 4.978 6.690 6.570 5014 AIRPORT 6.570 -0.030 768.2 6.627 — 1.29 10,900.9 0.515 0.255 0.270 0.265 5115 ALAM 0.270 0.005 635.6 0.265 13.92 — 249.6 0.245 0.075 0.245 0.235 0159 AMEDIA 0.240 UNCH 13776.2 0.237 — — 57.5 9.632 8.230 8.370 8.230 6351 AMWAY 8.240 -0.140 14.7 8.289 32.96 3.64 1,354.5 2.780 1.656 2.360 2.360 7083 ANALABS 2.360 UNCH 10 2.360 9.77 1.27 141.7 0.345 0.040 0.050 0.050 5194 APFT 0.050 0.005 10 0.050 — — 23.9 1.145 0.641 0.690 0.680 5210 ARMADA 0.685 -0.005 9209.7 0.686 — 1.20 4,018.4 0.150 0.110 0.110 0.110 1481 ASB 0.110 UNCH 112.2 0.110 — 2.27 73.0 2.979 2.326 2.830 2.770 6399 ASTRO 2.820 0.030 2478.4 2.796 23.10 4.76 14,678.1 5.200 4.056 — — 7048 ATLAN 4.890 — — — 24.44 5.50 1,240.4 0.910 0.353 0.835 0.820 7579 AWC 0.825 UNCH 1861.7 0.829 12.17 — 216.5 6.302 5.023 5.110 5.070 6888 AXIATA 5.090 -0.020 3385 5.088 23.22 3.34 45,434.4 0.425 0.232 0.360 0.340 5021 AYS 0.350 0.010 2617.2 0.349 8.35 2.86 133.1 1.040 0.640 0.660 0.650 7251 BARAKAH 0.660 UNCH 96.1 0.653 73.33 3.03 544.6 2.408 1.722 2.230 2.200 5248 BAUTO 2.220 -0.020 567.1 2.213 13.59 4.57 2,547.5 0.570 0.335 0.400 0.395 7241 BHS 0.395 -0.005 215 0.396 — — 174.6 0.375 0.185 0.190 0.190 6998 BINTAI 0.190 UNCH 85.2 0.190 — — 40.8 7.004 6.380 6.380 6.380 5032 BIPORT 6.380 -0.280 1 6.380 20.76 3.76 2,934.8 2.000 1.065 1.850 1.800 5275 BISON 1.850 UNCH 158.7 1.801 — — 573.6 0.440 0.320 0.330 0.320 3395 BJCORP 0.330 UNCH 4353.1 0.325 — 3.03 1,624.8 2.599 1.230 1.870 1.830 5196 BJFOOD 1.850 -0.020 819 1.863 34.51 2.97 699.9 0.855 0.590 0.610 0.600 4219 BJLAND 0.610 UNCH 85.2 0.607 — — 3,050.2 0.425 0.350 — — 6025 BJMEDIA 0.370 — — — — — 87.0 3.379 2.787 3.200 3.150 1562 BJTOTO 3.160 -0.040 441.5 3.176 14.42 5.70 4,269.3 0.215 0.170 0.175 0.170 7036 BORNOIL 0.175 0.005 4147 0.171 16.99 — 530.0 1.170 0.610 0.805 0.805 9474 BRAHIMS 0.805 UNCH 2 0.805 — — 190.2 2.727 1.788 2.120 2.090 2771 BSTEAD 2.090 -0.020 133.4 2.102 23.40 6.81 4,236.4 0.800 0.320 0.330 0.330 5257 CARIMIN 0.330 -0.025 30 0.330 22.30 — 77.2 2.140 1.400 — — 5245 CARING 1.420 — — — 42.39 1.41 309.1 3.872 2.926 3.190 3.180 2925 CCB 3.180 -0.010 15.8 3.183 6.06 1.57 320.4 1.050 0.749 0.915 0.905 7117 CENTURY 0.905 -0.005 962.5 0.909 15.18 4.42 347.9 0.508 0.380 — — 7209 CHEETAH 0.440 — — — 23.16 1.70 56.2 0.600 0.385 0.495 0.480 7016 CHUAN 0.490 -0.005 156.4 0.490 37.98 1.16 82.6 0.105 0.065 0.075 0.075 5104 CNI 0.075 UNCH 50 0.075 — 4.00 54.0 0.910 0.700 0.725 0.705 5136 COMPLET 0.725 0.020 3 0.724 5.59 4.14 88.8 0.055 0.035 0.040 0.035 5037 COMPUGT 0.040 0.005 623.1 0.035 23.53 — 85.4 2.190 1.522 2.090 2.060 5184 CYPARK 2.080 0.020 93.3 2.074 10.92 2.40 526.1 1.330 0.790 1.330 1.310 5276 DANCO 1.320 0.010 898.1 1.321 12.94 — 196.7 0.115 0.065 0.070 0.065 0091 DAYA 0.065 UNCH 229.5 0.067 — — 120.4 1.800 0.960 0.970 0.960 5141 DAYANG 0.965 -0.010 609.4 0.966 11.42 3.63 846.4 1.309 0.854 1.150 1.130 5132 DELEUM 1.150 0.030 122.8 1.141 13.79 4.13 460.0 0.895 0.525 0.840 0.825 7212 DESTINI 0.825 -0.015 1792.1 0.830 21.83 — 953.1 1.659 1.460 1.520 1.500 7277 DIALOG 1.510 UNCH 6106.2 1.511 26.49 1.46 8,010.1 6.520 3.604 6.480 6.310 5908 DKSH 6.360 -0.110 34.9 6.364 21.66 1.49 1,002.7 0.310 0.190 0.285 0.280 4456 DNEX 0.285 0.005 3690.4 0.281 2.26 3.37 493.9 1.673 1.047 1.540 1.510 5216 DSONIC 1.510 -0.010 2055.8 1.526 28.49 1.99 2,038.5 0.380 0.200 0.215 0.205 2097 EASTLND 0.205 -0.005 25 0.211 — — 50.4 1.356 0.650 0.685 0.650 5259 EATECH 0.685 0.030 842.9 0.670 7.40 3.28 345.2 0.340 0.210 — — 5036 EDARAN 0.210 — — — — — 12.6 0.295 0.195 0.215 0.205 7471 EDEN 0.215 0.010 289.9 0.210 — — 66.9 3.980 2.910 3.360 3.320 1368 EDGENTA 3.340 -0.020 69.7 3.339 25.23 4.49 2,777.6 0.366 0.211 0.240 0.230 0064 EFFICEN 0.240 0.010 63.4 0.237 3.95 — 170.2

0.900 0.772 0.880 0.880 5081 EIG 0.880 0.010 13.7 0.880 10.74 3.98 206.1 1.544 1.058 1.300 1.290 5208 EITA 1.300 0.010 22.8 1.300 7.42 3.08 169.0 1.380 1.090 1.290 1.240 5056 ENGTEX 1.280 0.030 464.7 1.261 8.09 0.59 396.6 0.802 0.550 0.590 0.580 6939 FIAMMA 0.590 UNCH 253.5 0.589 5.80 4.24 312.6 0.552 0.400 0.420 0.410 9318 FITTERS 0.415 UNCH 1081 0.415 43.23 1.45 199.4 1.484 1.140 1.200 1.200 7210 FREIGHT 1.200 UNCH 3 1.200 10.48 4.17 215.5 0.270 0.125 0.140 0.140 0128 FRONTKN 0.140 UNCH 2103 0.140 87.50 — 147.5 0.290 0.110 — — 9377 FSBM 0.210 — — — — — 28.1 2.800 2.083 2.550 2.530 5209 GASMSIA 2.540 -0.050 27.2 2.546 28.54 3.45 3,261.4 1.800 1.163 1.650 1.630 0078 GDEX 1.650 0.030 98.3 1.643 62.74 0.61 2,282.3 4.970 3.977 4.820 4.730 4715 GENM 4.730 -0.060 3133.5 4.743 20.54 1.54 28,087.0 9.850 6.875 7.950 7.820 3182 GENTING 7.820 -0.110 1451.1 7.873 25.83 0.45 29,325.2 2.790 1.140 2.720 2.680 3204 GKENT 2.700 -0.030 1148 2.698 15.05 2.15 1,013.9 0.480 0.370 0.400 0.395 7676 GUNUNG 0.400 0.005 25 0.395 — 1.50 94.4 3.880 2.153 3.880 3.800 7668 HAIO 3.860 0.070 548.9 3.838 18.90 3.89 780.5 0.410 0.230 0.245 0.245 7253 HANDAL 0.245 UNCH 10 0.245 8.19 — 39.2 7.850 5.597 7.660 7.570 3034 HAPSENG 7.650 UNCH 1246.4 7.626 17.77 3.27 19,046.1 1.412 0.880 0.940 0.935 2062 HARBOUR 0.940 UNCH 55.8 0.938 6.38 2.66 376.4 3.310 2.665 3.260 3.260 5008 HARISON 3.260 -0.040 3 3.260 16.22 4.60 223.3 0.015 0.005 0.005 0.005 7013 HUBLINE 0.005 UNCH 500 0.005 — — 63.3 0.455 0.295 0.365 0.350 5255 ICON 0.355 -0.010 835 0.357 — — 417.9 6.759 6.142 6.470 6.370 5225 IHH 6.400 -0.020 8160.5 6.424 51.82 0.47 52,682.4 0.890 0.725 0.845 0.830 5614 ILB 0.830 -0.020 43 0.840 — 3.01 147.8 1.143 0.840 0.840 0.840 5673 IPMUDA 0.840 -0.010 5 0.840 — 3.57 60.9 1.969 1.340 1.600 1.580 0058 JCBNEXT 1.600 0.070 39 1.598 9.31 2.19 224.0 0.285 0.210 0.245 0.235 8923 JIANKUN 0.245 -0.005 155 0.238 — — 37.2 0.435 0.315 0.355 0.355 8672 KAMDAR 0.355 UNCH 2 0.355 — — 70.3 0.395 0.180 0.255 0.235 5079 KBES 0.250 -0.005 5.2 0.236 — — 31.5 1.897 1.630 1.820 1.810 6491 KFIMA 1.820 UNCH 24.7 1.814 8.77 4.95 512.4 0.400 0.226 0.315 0.290 0151 KGB 0.300 -0.005 2289.7 0.299 — 1.67 66.7 1.595 1.160 1.160 1.160 5035 KNUSFOR 1.160 UNCH 5 1.160 — 1.72 115.6 4.349 4.062 4.270 4.210 5878 KPJ 4.210 -0.060 643.6 4.254 34.12 1.62 4,472.3 1.374 0.923 1.270 1.250 5843 KPS 1.270 0.010 315.1 1.265 4.52 3.15 633.7 0.650 0.420 0.560 0.545 9121 KPSCB 0.555 -0.005 551.8 0.550 4.77 — 82.0 0.275 0.135 0.150 0.145 4847 KTB 0.145 UNCH 1219.4 0.149 — — 58.4 0.460 0.232 0.410 0.400 6874 KUB 0.405 -0.005 725.4 0.403 21.54 1.23 225.4 0.350 0.250 0.265 0.255 7170 LFECORP 0.260 0.005 63 0.259 24.30 — 47.2 0.735 0.470 0.480 0.480 8486 LIONFIB 0.480 UNCH 18.7 0.480 — — 111.2 1.849 1.376 1.690 1.650 5143 LUXCHEM 1.650 UNCH 60 1.664 9.04 4.24 454.2 2.587 2.162 2.350 2.310 3859 MAGNUM 2.340 0.010 80.4 2.328 19.90 5.56 3,364.3 1.756 1.446 1.620 1.560 5264 MALAKOF 1.560 -0.040 4231.9 1.584 16.37 3.53 7,800.0 0.165 0.136 0.155 0.150 3514 MARCO 0.155 0.005 61 0.150 9.45 4.52 163.4 6.720 5.270 6.060 5.950 6012 MAXIS 5.980 -0.040 2014.3 5.992 23.70 3.34 44,911.5 1.000 0.510 0.765 0.755 5077 MAYBULK 0.755 -0.005 344.6 0.761 — 1.32 755.0 2.827 1.891 2.640 2.500 5983 MBMR 2.630 -0.010 5.4 2.583 18.08 2.28 1,027.6 1.450 0.760 1.120 1.120 7189 MBWORLD 1.120 0.010 6 1.120 40.43 — 102.9 1.498 1.141 1.310 1.280 4502 MEDIA 1.300 -0.010 398.9 1.300 11.92 5.38 1,442.0 0.775 0.505 0.680 0.680 5090 MEDIAC 0.680 UNCH 34.7 0.680 2.99 6.63 1,147.3 0.900 0.570 0.620 0.620 7234 MESB 0.620 UNCH 35 0.620 9.47 — 26.0 2.221 1.618 1.990 1.970 3069 MFCB 1.980 0.010 85.6 1.976 5.81 3.54 795.8 1.340 0.875 1.040 1.020 5186 MHB 1.030 UNCH 514.5 1.028 — — 1,648.0 9.050 6.789 7.670 7.500 3816 MISC 7.500 -0.090 1011 7.554 10.61 4.33 33,478.4 2.420 1.580 2.340 2.320 2194 MMCCORP 2.330 -0.020 58.9 2.332 — 1.63 7,095.0 0.524 0.260 0.285 0.285 0059 MMODE 0.285 UNCH 3 0.285 12.34 2.11 46.4 0.090 0.060 0.075 0.070 0043 MTRONIC 0.075 UNCH 207 0.072 8.52 — 56.9 0.205 0.135 0.140 0.140 3891 MUIIND 0.140 -0.005 433.9 0.140 — — 410.6 0.309 0.195 0.210 0.200 3905 MULPHA 0.205 UNCH 5932.7 0.205 4.82 — 701.7 2.410 2.100 2.370 2.320 0138 MYEG 2.330 UNCH 7618.5 2.346 39.16 0.52 5,601.8 0.930 0.600 — — 9806 NATWIDE 0.840 — — — — — 50.5 0.115 0.065 0.080 0.080 4464 NICORP 0.080 UNCH 811 0.080 44.44 — 69.1 0.937 0.660 — — 5533 OCB 0.725 — — — 12.46 1.38 74.6 0.860 0.632 0.810 0.800 0172 OCK 0.800 -0.005 206.5 0.808 14.63 0.75 697.2 2.027 1.246 2.010 1.990 5201 OLDTOWN 1.990 -0.010 193 2.000 15.71 3.02 921.8 0.145 0.080 — — 3018 OLYMPIA 0.085 — — — — — 87.0 2.750 1.890 2.270 2.210 5260 OWG 2.260 -0.020 650.2 2.243 40.79 — 548.9 0.464 0.392 0.405 0.405 8419 PANSAR 0.405 -0.005 52 0.405 11.95 4.94 113.4 0.655 0.530 0.585 0.575 5125 PANTECH 0.580 UNCH 1113.1 0.579 9.67 3.60 357.6 1.085 0.715 0.785 0.770 5657 PARKSON 0.780 UNCH 973.6 0.776 — — 853.2 1.384 1.031 1.140 1.140 5041 PBA 1.140 UNCH 88.5 1.140 8.56 3.29 377.6 0.135 0.055 0.075 0.075 6254 PDZ 0.075 UNCH 2006.5 0.075 — — 65.2 1.381 0.910 1.000 1.000 5133 PENERGY 1.000 UNCH 33.2 1.000 22.68 2.00 321.8 1.550 1.540 — — 7108 PERDANA 1.540 — — — — — 1,198.8 0.360 0.065 0.075 0.070 0047 PERISAI 0.075 0.005 10116.6 0.071 — — 94.6 0.220 0.135 — — 7080 PERMAJU 0.150 — — — — — 29.4 1.762 1.440 1.710 1.690 5219 PESTECH 1.710 UNCH 928.8 1.700 17.45 1.02 1,280.8 25.801 21.454 23.420 23.180 5681 PETDAG 23.400 0.040 283.9 23.311 32.65 2.56 23,246.8 0.250 0.030 — — 7027 PETONE 0.055 — — — 3.67 — 2.8 6.617 5.412 5.560 5.550 7081 PHARMA 5.550 -0.080 3.4 5.550 20.71 4.50 1,439.5 0.250 0.135 — — 7201 PICORP 0.140 — — — — 4.36 92.1 0.390 0.205 0.230 0.230 7163 PJBUMI 0.230 0.005 6 0.230 — — 11.5 4.170 1.968 4.170 4.030 4634 POS 4.050 -0.050 3043.7 4.087 30.13 2.89 3,170.2 3.259 1.690 2.260 2.220 5204 PRESBHD 2.220 -0.020 454.9 2.237 72.08 1.58 1,074.5 2.980 2.050 2.060 2.050 8346 PRKCORP 2.050 -0.010 48 2.054 — — 205.0 0.210 0.165 0.175 0.165 0186 PTRANS 0.165 -0.005 18092.4 0.170 — — 188.6 1.127 0.774 0.980 0.950 5272 RANHILL 0.975 0.015 279.1 0.968 13.87 1.85 866.1 0.200 0.135 0.195 0.185 0037 RGB 0.190 UNCH 18607.8 0.190 10.86 2.63 250.7 0.450 0.320 0.340 0.330 8885 RPB 0.340 UNCH 421 0.332 — — 291.9 0.668 0.528 0.595 0.585 8567 SALCON 0.585 -0.015 1242.2 0.587 — 3.42 396.5 1.310 0.616 1.300 1.270 5147 SAMCHEM 1.280 -0.030 99.5 1.283 30.62 2.34 174.1 0.650 0.400 — — 7185 SAMUDRA 0.410 — — — — — 76.2 0.145 0.105 0.120 0.115 9113 SANBUMI 0.120 0.005 55 0.116 — — 27.2 2.395 1.822 2.090 2.070 0099 SCICOM 2.070 -0.030 150.7 2.070 17.53 4.35 735.8 0.220 0.125 0.130 0.125 7158 SCOMI 0.125 UNCH 286.8 0.126 83.33 — 239.7 0.300 0.170 0.180 0.175 7045 SCOMIES 0.180 0.005 70.8 0.178 — — 421.5 1.310 0.978 — — 7053 SEEHUP 1.000 — — — 4.66 4.50 52.3 1.356 1.090 1.140 1.130 9792 SEG 1.140 0.010 285.6 1.131 58.16 11.40 852.8 1.960 1.293 1.960 1.910 5250 SEM 1.950 0.040 321.5 1.943 37.94 1.18 2,405.1 8.586 6.947 7.860 7.710 4197 SIME 7.750 -0.110 13337.9 7.755 20.03 3.23 51,486.6 0.930 0.700 — — 9431 SJC 0.760 — — — 23.10 1.32 30.8 2.290 1.290 1.650 1.630 5218 SKPETRO 1.630 UNCH 6752.8 1.637 — 0.83 9,767.2 1.518 1.260 1.330 1.320 5242 SOLID 1.330 0.010 15.2 1.320 40.55 1.20 220.9 2.607 2.130 2.490 2.480 6084 STAR 2.490 0.020 4.6 2.482 13.91 7.23 1,839.0 3.000 2.280 2.390 2.340 9865 SUIWAH 2.340 0.040 0.9 2.346 17.58 1.50 142.7 0.165 0.080 0.085 0.080 1201 SUMATEC 0.080 -0.005 2327.2 0.081 13.56 — 309.3 2.608 1.820 2.130 2.100 6521 SURIA 2.100 UNCH 441.5 2.113 10.79 3.33 605.2 0.420 0.245 0.290 0.265 5173 SYSCORP 0.290 0.025 491.7 0.283 45.31 — 348.0 1.616 1.159 1.530 1.500 8524 TALIWRK 1.510 -0.020 265.4 1.513 21.39 5.30 1,826.3 1.926 1.372 1.520 1.510 5140 TASCO 1.510 -0.020 10.7 1.519 9.90 2.98 302.0 14.900 12.162 14.440 14.360 5347 TENAGA 14.400 -0.020 6452.5 14.405 12.65 2.01 81,268.0 1.850 1.323 — — 8702 TEXCHEM 1.650 — — — — 9.09 204.8 0.410 0.275 0.300 0.300 7228 TGOFFS 0.300 -0.005 17.6 0.300 — — 114.5 0.240 0.060 0.185 0.175 7206 THHEAVY 0.175 -0.005 8337.2 0.180 — — 196.2 6.840 6.096 6.750 6.640 4863 TM 6.700 0.020 9107.6 6.679 30.71 3.19 25,178.2 0.985 0.550 0.970 0.950 0101 TMCLIFE 0.960 0.005 658.1 0.960 95.05 0.15 1,663.8 1.720 1.066 1.650 1.630 8397 TNLOGIS 1.630 UNCH 251.4 1.634 7.58 3.07 686.2 0.550 0.330 0.460 0.460 7218 TOCEAN 0.460 UNCH 8 0.460 58.97 — 18.9 3.250 2.520 3.200 3.200 5711 TSTORE 3.200 UNCH 3.8 3.200 34.45 1.17 219.2 1.081 0.780 0.800 0.800 5167 TURBO 0.800 -0.020 10 0.800 16.60 6.25 86.4 2.989 2.488 2.780 2.640 7137 UMS 2.780 -0.020 5.3 2.650 12.61 2.16 113.1 1.420 0.835 0.850 0.835 5243 UMWOG 0.835 -0.020 2581.4 0.838 — — 1,805.3 1.265 1.006 1.120 1.120 7091 UNIMECH 1.120 UNCH 5 1.120 14.27 2.97 145.2 0.700 0.400 — — 5754 UTUSAN 0.410 — — — — — 45.4 2.320 1.610 1.680 1.670 7250 UZMA 1.680 0.010 56 1.679 55.08 — 488.8 0.815 0.450 0.705 0.705 7240 VOIR 0.705 -0.005 5 0.705 103.68 — 93.1 2.909 1.890 — — 5016 WARISAN 1.950 — — — 80.25 3.33 131.0 0.545 0.410 — — 7692 WIDETEC 0.425 — — — 18.97 — 19.0 4.590 3.501 4.290 4.250 5246 WPRTS 4.280 UNCH 2849 4.269 24.58 3.06 14,594.8 1.300 0.916 1.170 1.160 5267 XINHWA 1.170 UNCH 102 1.166 14.37 1.28 210.6 0.065 0.030 0.035 0.035 7122 YFG 0.035 UNCH 811.7 0.035 — — 21.3 3.300 2.494 3.190 3.180 7293 YINSON 3.190 0.010 129.9 3.187 15.40 0.63 3,486.0 1.170 0.560 1.130 1.120 7066 YONGTAI 1.130 UNCH 513 1.127 18.20 — 181.2 1.820 1.450 1.780 1.750 4677 YTL 1.750 -0.020 6534.3 1.763 19.66 5.43 19,071.1FINANCE 15.180 10.535 14.920 14.660 5139 AEONCR 14.660 -0.320 101.1 14.793 9.35 4.10 2,111.0 2.414 2.074 2.180 2.160 5185 AFFIN 2.180 UNCH 85.1 2.167 9.36 3.67 4,235.6 4.296 3.018 3.810 3.740 2488 AFG 3.810 0.070 285.7 3.792 10.91 3.81 5,898.3 10.903 9.702 10.080 10.040 1163 ALLIANZ 10.080 0.020 13.8 10.077 5.42 0.64 1,741.0 10.594 9.572 — — 1163PA ALLIANZ-PA 10.200 — — — — 0.76 904.1 4.873 3.950 4.130 4.050 1015 AMBANK 4.050 -0.040 1019.6 4.075 9.47 3.83 12,207.4 1.873 1.450 1.470 1.470 5088 APEX 1.470 UNCH 10 1.470 18.33 3.40 313.9 4.350 3.170 4.310 4.250 5258 BIMB 4.250 -0.040 238.5 4.285 11.84 2.87 6,751.9 9.430 7.748 8.800 8.750 1818 BURSA 8.770 0.010 98.7 8.776 23.34 3.99 4,703.1 4.880 3.726 4.790 4.730 1023 CIMB 4.770 0.020 8736.5 4.766 12.30 3.98 41,636.7 0.500 0.310 0.390 0.390 2143 ECM 0.390 -0.020 4.4 0.390 60.00 — 111.8 1.237 1.150 1.180 1.170 5228 ELKDESA 1.180 UNCH 61.6 1.177 9.74 5.72 282.8 13.760 12.900 13.200 13.140 5819 HLBANK 13.200 0.040 467.9 13.183 13.07 3.11 28,613.9 10.100 7.327 — — 5274 HLCAP 10.100 — — — 39.41 1.19 2,493.7 16.300 12.497 15.700 15.540 1082 HLFG 15.600 -0.080 286.5 15.599 12.71 2.44 17,901.3 2.660 1.921 — — 6688 HWANG 2.640 — — — 19.23 3.79 673.6 0.868 0.635 0.725 0.710 3379 INSAS 0.720 0.010 167.8 0.713 6.19 1.39 499.2 0.955 0.851 0.940 0.940 3379PA INSAS-PA 0.940 UNCH 2 0.940 — 8.51 124.6 0.245 0.105 0.235 0.220 3441 JOHAN 0.230 0.005 3962.5 0.227 — — 143.3 0.630 0.460 0.480 0.475 6483 KENANGA 0.475 -0.005 137 0.477 20.93 — 347.6 17.000 13.623 17.000 16.980 8621 LPI 16.980 UNCH 22.1 16.981 12.31 4.42 5,637.1 0.980 0.484 0.950 0.945 1198 MAA 0.950 UNCH 847.1 0.949 31.88 6.32 278.1 3.050 2.690 — — 1058 MANULFE 3.030 — — — 21.23 2.97 613.2 8.658 7.500 7.650 7.590 1155 MAYBANK 7.600 -0.010 4312.2 7.611 11.98 6.58 76,067.1 1.355 0.685 0.920 0.900 1171 MBSB 0.905 -0.005 3070.1 0.909 17.99 3.20 5,247.9 3.570 2.400 3.270 3.180 6459 MNRB 3.200 -0.040 54.3 3.217 — — 681.8 1.650 1.310 1.360 1.350 5237 MPHBCAP 1.350 UNCH 61.7 1.351 18.75 — 965.3 1.422 1.270 1.350 1.340 6009 P&O 1.340 UNCH 74 1.343 14.57 7.84 329.6 20.100 17.201 19.800 19.680 1295 PBBANK 19.700 -0.020 7206 19.706 14.70 2.94 76,478.1 1.370 0.667 1.330 1.310 9296 RCECAP 1.310 -0.010 413.3 1.316 8.87 2.67 455.8 6.217 4.514 4.630 4.550 1066 RHBBANK 4.550 -0.030 666.1 4.574 7.83 1.10 18,245.7 0.675 0.475 0.485 0.475 4898 TA 0.475 -0.005 960.4 0.479 — 1.16 813.2

MarketsB U R S A M A L A Y S I A M A I N M A R K E T


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4.440 3.654 4.250 4.220 6139 TAKAFUL 4.220 -0.020 21.3 4.238 21.15 3.40 3,464.4 1.720 1.063 1.590 1.560 5230 TUNEPRO 1.570 -0.010 2038.7 1.565 13.82 3.18 1,180.3PROPERTIES 0.925 0.770 0.800 0.790 1007 AMPROP 0.800 UNCH 30.1 0.796 17.54 3.75 484.3 1.200 0.760 1.100 1.060 5959 A&M 1.060 -0.040 40 1.073 16.93 1.42 387.0 0.472 0.381 0.400 0.400 1007PA AMPROP-PA 0.400 -0.005 13.7 0.400 — 5.00 116.5 0.235 0.155 0.165 0.155 4057 ASIAPAC 0.155 -0.005 238.1 0.160 1.87 1.94 153.8 0.630 0.415 0.500 0.500 6602 BCB 0.500 UNCH 5 0.500 7.35 — 206.3 0.665 0.440 0.630 0.630 9814 BERTAM 0.630 -0.005 7.3 0.630 — — 130.3 0.900 0.710 — — 3239 BJASSET 0.770 — — — — 1.30 857.0 1.250 0.900 1.120 1.070 5738 CHHB 1.120 0.040 611.2 1.120 — — 308.8 2.000 1.412 1.550 1.530 6718 CRESNDO 1.550 -0.030 16.3 1.532 7.62 3.23 434.7 1.672 1.245 1.360 1.350 5049 CVIEW 1.350 -0.020 4.3 1.357 7.79 5.19 135.0 2.360 2.110 2.250 2.250 5355 DAIMAN 2.250 -0.010 1 2.250 25.03 2.22 477.4 1.080 0.555 0.755 0.715 3484 DBHD 0.715 0.005 804.8 0.731 — — 221.2 1.838 1.364 1.670 1.650 3417 E&O 1.660 UNCH 242.6 1.660 121.17 1.20 2,095.4 0.335 0.225 0.270 0.265 3557 ECOFIRS 0.270 0.005 438.9 0.266 12.16 — 216.9 1.510 1.200 1.370 1.340 8206 ECOWLD 1.360 0.020 1606.7 1.352 26.88 — 3,215.4 0.900 0.590 — — 6076 ENCORP 0.765 — — — 14.54 — 213.2 2.286 1.700 2.090 2.030 8613 ENRA 2.090 -0.010 4.8 2.075 42.22 1.44 284.7 0.920 0.710 0.820 0.800 6815 EUPE 0.820 0.025 49.1 0.804 37.10 — 105.0 0.563 0.443 — — 6041 FARLIM 0.505 — — — 3.21 3.96 70.9 0.898 0.700 0.785 0.780 5020 GLOMAC 0.780 0.005 59.6 0.783 3.86 5.13 567.7 0.448 0.361 0.385 0.385 9962 GMUTUAL 0.385 UNCH 25 0.385 7.43 2.60 144.6 0.656 0.325 0.330 0.325 1147 GOB 0.325 -0.010 2157 0.327 — 1.54 147.8 1.459 1.040 1.200 1.190 1503 GUOCO 1.200 -0.010 29.2 1.198 6.32 1.67 840.6 0.600 0.380 0.390 0.390 7010 HOOVER 0.390 -0.035 1.3 0.390 — — 15.6 1.432 1.241 1.330 1.290 5062 HUAYANG 1.300 UNCH 166.6 1.301 4.40 7.50 457.6 0.620 0.442 0.575 0.560 4251 IBHD 0.570 UNCH 162.9 0.567 11.13 2.28 567.4 1.313 0.910 — — 5084 IBRACO 1.000 — — — 10.35 3.50 496.4 2.658 2.171 — — 1597 IGB 2.490 — — — 16.22 4.02 3,398.3 2.570 1.949 2.540 2.520 5249 IOIPG 2.530 UNCH 1423.9 2.529 9.58 3.16 11,191.8 0.500 0.340 0.450 0.445 5175 IVORY 0.450 UNCH 447.4 0.447 24.59 — 220.5 1.140 0.755 0.910 0.895 1589 IWCITY 0.910 0.005 406.3 0.904 284.38 — 670.4 0.245 0.180 0.200 0.195 6769 JKGLAND 0.195 -0.005 110 0.200 7.17 1.54 147.9 0.070 0.045 0.055 0.050 3115 KBUNAI 0.055 -0.005 67 0.054 — — 317.7 1.056 0.870 — — 7323 KEN 0.880 — — — 6.72 3.41 168.7 1.720 1.080 1.150 1.130 5038 KSL 1.130 -0.010 906.7 1.142 5.33 6.19 1,172.4 0.439 0.315 0.405 0.400 3174 L&G 0.400 UNCH 716.6 0.400 5.17 5.00 447.3 1.471 1.230 — — 8494 LBICAP 1.250 — — — 3.84 5.60 97.2 1.790 1.230 1.730 1.710 5789 LBS 1.720 UNCH 361.8 1.719 11.80 2.03 1,096.3 0.290 0.220 0.250 0.250 3573 LIENHOE 0.250 0.005 224.3 0.250 — — 90.4 1.210 0.834 1.080 1.010 7617 MAGNA 1.010 -0.010 12.9 1.011 0.90 7.92 336.2 1.700 1.187 1.610 1.580 8583 MAHSING 1.600 UNCH 934.9 1.596 11.20 4.06 3,855.1 0.799 0.570 0.650 0.640 6181 MALTON 0.650 UNCH 389 0.645 7.82 4.62 291.5 2.650 2.106 2.600 2.550 5236 MATRIX 2.560 -0.040 118.4 2.581 9.79 5.82 1,461.2 1.380 1.060 — — 5182 MCT 1.120 — — — 19.24 1.79 1,495.0 0.615 0.455 0.500 0.485 5040 MEDAINC 0.500 0.005 303 0.496 — — 246.3 1.070 0.610 0.860 0.830 1694 MENANG 0.855 -0.015 142.9 0.855 7.08 — 228.4 0.356 0.255 0.270 0.270 8141 MJPERAK 0.270 -0.030 3 0.270 5.12 7.93 69.4 3.000 2.030 2.920 2.880 6114 MKH 2.920 UNCH 211.5 2.900 6.82 2.40 1,224.8 0.457 0.300 0.305 0.300 8893 MKLAND 0.300 -0.005 1509.5 0.300 22.06 10.00 362.2 0.255 0.140 0.150 0.150 6548 MPCORP 0.150 UNCH 1.8 0.150 — — 43.1 1.482 1.020 1.360 1.320 1651 MRCB 1.360 0.040 4638.4 1.344 28.94 1.84 2,829.1 1.300 0.620 — — 9539 MUH 0.670 — — — 7.22 — 37.8 0.390 0.240 0.260 0.245 3913 MUIPROP 0.260 -0.005 18 0.253 17.81 — 198.7 2.740 1.540 1.580 1.550 5073 NAIM 1.560 0.010 124.6 1.563 — 2.24 390.0 3.216 2.446 — — 5827 OIB 2.900 — — — 10.46 2.76 420.1 1.647 1.445 1.530 1.520 5053 OSK 1.530 UNCH 647.4 1.529 3.35 3.27 2,146.4 1.617 1.263 1.400 1.390 1724 PARAMON 1.400 UNCH 139.9 1.400 9.24 5.89 592.1 0.585 0.280 0.520 0.495 6912 PASDEC 0.520 0.020 619.4 0.509 — — 107.1 1.520 1.233 1.520 1.500 1945 PJDEV 1.500 -0.010 111.9 1.504 15.58 4.67 793.3 2.200 1.630 1.760 1.750 5075 PLENITU 1.750 0.020 235.3 1.750 13.16 2.57 667.7 0.285 0.220 0.250 0.240 2208 PTGTIN 0.250 0.005 51 0.244 4.76 — 86.5 1.514 0.845 0.990 0.900 4596 SAPRES 0.955 -0.035 138.7 0.971 — 3.14 133.3 0.910 0.680 0.690 0.690 5207 SBCCORP 0.690 UNCH 47.1 0.690 46.31 0.67 162.0 1.051 0.850 0.860 0.855 2224 SDRED 0.860 0.005 17 0.858 13.98 2.91 366.5 0.635 0.400 0.410 0.400 4286 SEAL 0.410 0.010 40.9 0.405 24.40 — 90.8 3.088 2.625 3.020 2.980 6017 SHL 3.020 UNCH 26.2 3.000 9.16 6.62 731.2 0.185 0.130 0.145 0.145 4375 SMI 0.145 UNCH 3 0.145 — — 30.4 0.933 0.726 — — 5213 SNTORIA 0.760 — — — 11.97 2.63 371.7 5.482 4.450 4.560 4.450 1783 SPB 4.500 0.010 458.5 4.541 3.13 2.67 1,546.3 3.590 2.626 3.510 3.480 8664 SPSETIA 3.500 UNCH 2700 3.501 13.75 6.19 9,863.3 0.985 0.810 0.980 0.920 3743 SUNSURIA 0.950 -0.020 148.3 0.957 23.00 — 758.9 3.188 2.790 3.070 3.040 5211 SUNWAY 3.060 UNCH 1153.1 3.059 9.19 3.59 6,310.9 0.822 0.651 0.670 0.665 1538 SYMLIFE 0.670 0.005 14.7 0.668 12.05 2.99 207.7 0.295 0.215 0.225 0.220 5158 TAGB 0.220 -0.005 156.6 0.220 — 1.50 1,170.8 6.887 5.903 — — 2305 TAHPS 6.500 — — — 23.97 1.54 486.5 0.070 0.040 0.045 0.040 2259 TALAMT 0.045 UNCH 750.5 0.041 — — 189.9 1.580 1.200 1.510 1.490 5191 TAMBUN 1.500 UNCH 303.2 1.500 6.70 6.00 640.1 0.175 0.060 0.060 0.060 2429 TANCO 0.060 UNCH 100 0.060 — — 20.7 0.525 0.195 0.195 0.195 7889 THRIVEN 0.195 -0.005 135 0.195 12.50 — 73.5 0.090 0.045 0.050 0.045 7079 TIGER 0.050 UNCH 1304 0.046 — — 69.5 1.810 1.350 1.810 1.700 5239 TITIJYA 1.800 0.100 4178.4 1.775 9.34 2.50 726.0 1.149 0.877 1.030 1.020 5401 TROP 1.020 -0.010 204.4 1.020 7.32 6.86 1,476.4 1.344 0.907 1.240 1.210 5148 UEMS 1.220 UNCH 2964.5 1.221 33.42 1.31 5,535.7 2.740 1.840 2.630 2.560 5200 UOADEV 2.600 -0.030 1354.9 2.608 8.04 5.77 4,244.4 1.309 1.030 1.060 1.050 2976 WINGTM 1.060 UNCH 56.9 1.051 37.46 2.83 516.6 1.430 0.880 — — 7003 Y&G 0.940 — — — 12.13 9.31 187.4 1.840 1.530 1.610 1.580 3158 YNHPROP 1.600 0.010 281.2 1.598 31.43 — 846.4 0.750 0.570 0.580 0.570 2577 YTLLAND 0.580 0.005 256.8 0.571 28.02 — 489.7MINING 1.330 1.150 1.180 1.180 2186 KUCHAI 1.180 -0.010 15 1.180 — 0.72 146.0PLANTATIONS 0.367 0.200 — — 7054 AASIA 0.210 — — — — — 138.6 18.200 16.414 18.020 18.000 1899 BKAWAN 18.000 UNCH 4.2 18.010 9.80 2.78 7,847.1 9.478 8.081 — — 5069 BLDPLNT 8.510 — — — 148.52 0.24 795.7 1.540 1.290 1.490 1.490 5254 BPLANT 1.490 UNCH 54.9 1.490 14.64 8.05 2,384.0 0.813 0.620 0.685 0.680 8982 CEPAT 0.685 0.005 42.7 0.684 26.76 2.19 218.1 8.330 7.336 7.800 7.800 1929 CHINTEK 7.800 UNCH 3.6 7.800 31.89 2.05 712.6 0.550 0.415 0.425 0.420 3948 DUTALND 0.425 UNCH 250.5 0.421 — — 359.6 7.920 7.039 7.850 7.850 5029 FAREAST 7.850 UNCH 3.2 7.850 16.72 3.18 1,109.9 2.520 1.293 2.410 2.340 5222 FGV 2.350 -0.010 9216.2 2.381 — 1.70 8,573.2 11.495 9.745 10.780 10.660 2291 GENP 10.680 -0.100 25.3 10.716 — 0.47 8,467.4 0.687 0.500 0.665 0.625 7382 GLBHD 0.630 -0.015 1816.7 0.644 2.54 — 140.4 1.580 1.090 — — 2135 GOPENG 1.380 — — — 142.27 2.90 247.5 1.020 0.790 — — 7501 HARNLEN 0.825 — — — — — 153.0 2.459 2.155 2.420 2.410 5138 HSPLANT 2.410 0.010 7.3 2.417 20.27 3.32 1,928.0 3.746 3.220 3.410 3.370 2216 IJMPLNT 3.370 -0.130 2.9 3.389 111.96 1.48 2,967.6 0.735 0.637 — — 2607 INCKEN 0.695 — — — — 1.68 292.4 0.785 0.550 0.715 0.680 6262 INNO 0.715 0.035 275.2 0.695 17.48 — 341.8 4.985 3.982 4.480 4.400 1961 IOICORP 4.450 UNCH 2548.9 4.438 44.37 1.80 28,755.1 25.000 21.303 24.180 23.940 2445 KLK 23.980 0.040 2398.6 24.009 18.20 1.88 25,598.8 3.569 3.000 — — 2453 KLUANG 3.200 — — — 69.11 0.31 202.2 3.535 2.663 3.420 3.340 5027 KMLOONG 3.400 0.050 34.9 3.395 16.01 3.82 1,060.1 0.645 0.405 0.530 0.515 1996 KRETAM 0.530 0.010 117.1 0.523 — — 1,042.8 1.580 1.160 — — 6572 KWANTAS 1.310 — — — — — 408.3 1.750 1.300 — — 4936 MALPAC 1.500 — — — — — 112.5 0.979 0.770 — — 5026 MHC 0.810 — — — 65.32 1.85 159.2 2.778 1.922 — — 5047 NPC 2.200 — — — 6.58 0.45 264.0 4.466 3.720 — — 2038 NSOP 4.120 — — — 94.06 1.46 289.2 0.350 0.190 0.235 0.220 1902 PINEPAC 0.235 0.005 101 0.229 — — 35.2 1.220 0.850 — — 9695 PLS 0.950 — — — — — 310.4 0.675 0.470 0.490 0.485 5113 RSAWIT 0.490 UNCH 302 0.486 — — 695.1 4.080 3.400 3.520 3.520 2542 RVIEW 3.520 UNCH 10 3.520 55.61 1.70 228.3 3.300 2.950 — — 2569 SBAGAN 3.000 — — — — 0.67 199.0 0.825 0.450 — — 4316 SHCHAN 0.550 — — — 61.11 — 63.3 4.967 3.490 3.740 3.700 5126 SOP 3.700 -0.020 124.4 3.701 13.10 1.35 1,637.1 2.062 1.700 1.780 1.760 5135 SWKPLNT 1.780 -0.010 25.9 1.775 38.95 4.21 498.4 0.793 0.616 0.660 0.655 2054 TDM 0.655 -0.005 1814.3 0.660 11.37 1.83 986.1 1.410 1.060 1.100 1.100 5112 THPLANT 1.100 UNCH 96.8 1.100 19.16 — 972.2 1.750 1.300 1.720 1.710 5251 TMAKMUR 1.710 UNCH 10.3 1.710 14.78 8.77 680.9 2.177 1.800 1.910 1.890 9059 TSH 1.890 -0.010 46.8 1.901 — 1.06 2,542.8 6.124 5.650 5.720 5.700 2593 UMCCA 5.710 0.010 38 5.710 23.58 2.80 1,194.7 28.380 23.977 28.100 28.000 2089 UTDPLT 28.100 UNCH 1.1 28.009 19.02 1.42 5,848.6HOTELS 0.675 0.502 0.520 0.520 5592 GCE 0.520 0.010 6 0.520 — 3.85 102.4 1.140 0.735 0.750 0.745 1643 LANDMRK 0.750 0.005 10 0.748 — — 360.6 0.345 0.120 — — 1287 PMHLDG 0.140 — — — — — 130.0 6.126 4.800 5.260 5.230 5517 SHANG 5.260 -0.020 49.7 5.243 18.77 2.66 2,314.4TECHNOLOGY 0.850 0.600 — — 7031 AMTEL 0.620 — — — 62.00 — 30.6 0.345 0.185 0.260 0.250 5195 CENSOF 0.255 -0.005 2003.5 0.253 4.38 — 127.9 0.175 0.090 0.130 0.125 0051 CUSCAPI 0.130 0.005 115 0.129 — — 56.6 0.430 0.250 0.325 0.320 7204 D&O 0.320 UNCH 367.8 0.320 29.63 — 316.5 0.255 0.125 0.125 0.125 8338 DATAPRP 0.125 UNCH 396.5 0.125 — — 52.7 0.235 0.150 0.165 0.160 0029 DIGISTA 0.165 0.005 216 0.163 — — 84.0 1.747 1.315 1.490 1.470 5162 ECS 1.470 -0.030 26 1.476 10.03 4.08 264.6 1.949 0.596 1.530 1.500 0065 EFORCE 1.520 UNCH 84 1.520 49.19 1.97 314.4 2.060 1.377 1.950 1.930 0090 ELSOFT 1.930 -0.020 176 1.940 11.14 3.76 349.6 1.180 0.710 0.815 0.805 0021 GHLSYS 0.805 UNCH 195.1 0.806 39.27 — 527.1 0.305 0.225 0.235 0.230 0082 GPACKET 0.230 UNCH 766 0.231 — — 158.8 0.289 0.200 — — 0056 GRANFLO 0.205 — — — 13.76 2.44 99.0 6.696 2.750 3.970 3.900 7022 GTRONIC 3.950 0.050 1067.4 3.943 23.95 1.52 1,113.4 0.690 0.510 — — 5028 HTPADU 0.575 — — — 62.50 3.48 58.2 3.876 2.538 3.410 3.330 0166 INARI 3.340 -0.050 2808.5 3.346 21.31 2.23 3,208.2 0.170 0.075 0.095 0.075 9393 ITRONIC 0.090 -0.005 787.9 0.084 — — 9.2 0.828 0.496 0.540 0.530 5161 JCY 0.530 -0.010 447.2 0.533 13.15 12.74 1,100.3 8.980 3.849 8.900 8.650 9334 KESM 8.800 -0.120 104.8 8.789 12.32 0.34 378.5 0.235 0.105 0.110 0.110 0143 KEYASIC 0.110 UNCH 99 0.110 — — 91.8 10.480 6.506 8.030 7.950 3867 MPI 7.990 -0.020 120.3 7.997 9.63 2.88 1,677.0 1.400 0.845 — — 5011 MSNIAGA 1.110 — — — — — 67.0 0.480 0.360 0.375 0.360 0083 NOTION 0.375 UNCH 398.7 0.366 — — 101.4 0.595 0.410 0.495 0.495 9008 OMESTI 0.495 -0.005 40 0.495 — — 212.9 0.335 0.210 0.285 0.280 0041 PANPAGE 0.280 -0.005 40 0.282 87.50 — 67.6

Ace Market YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL)

1.490 0.560 1.490 1.430 7160 PENTA 1.480 0.050 2364.3 1.470 12.24 — 216.9 0.475 0.235 — — 9075 THETA 0.310 — — — 3.61 — 33.2 0.110 0.035 0.095 0.085 0118 TRIVE 0.095 0.005 17063.3 0.090 — — 114.8 2.728 1.876 2.650 2.550 5005 UNISEM 2.640 0.090 1687.7 2.611 11.19 3.41 1,937.3 4.000 2.910 3.650 3.640 0097 VITROX 3.640 UNCH 7.9 3.641 15.44 0.55 853.0 0.801 0.615 0.780 0.750 0008 WILLOW 0.770 0.020 950.5 0.768 10.32 2.60 191.0INFRASTRUCTURE PROJECT COMPANIES 5.533 4.201 5.010 4.940 6947 DIGI 4.970 -0.030 4629.1 4.965 24.17 4.12 38,641.8 6.040 4.719 6.040 5.920 6645 LITRAK 6.000 0.020 1104.5 6.012 16.34 3.33 3,152.5 1.950 0.985 1.140 1.130 6807 PUNCAK 1.140 -0.010 399 1.134 — — 512.2 0.560 0.335 0.390 0.375 5078 SILKHLD 0.385 UNCH 717 0.387 — — 270.1 8.420 6.323 7.850 7.740 5031 TIMECOM 7.810 0.010 54.6 7.777 13.53 1.70 4,516.5 1.640 1.380 1.640 1.610 6742 YTLPOWR 1.610 -0.010 6355 1.626 11.70 6.21 13,076.6CLOSED-END FUNDS 2.580 2.240 2.470 2.450 5108 ICAP 2.460 0.020 45 2.453 16.12 — 344.4EXCHANGE TRADED FUNDS 1.124 1.051 — — 0800EA ABFMY1 1.121 — — — — 5.07 2,035.1 1.770 1.550 1.710 1.710 0822EA CIMBA40 1.710 0.030 0.1 1.710 — 3.84 2.3 1.425 1.015 — — 0823EA CIMBC50 1.320 — — — — — 16.3 1.785 1.645 1.735 1.735 0820EA FBMKLCI-EA 1.735 UNCH 3 1.735 — 1.44 2.9 1.020 0.900 — — 0826EA METFAPA 1.010 — — — — — 19.2 1.015 0.850 0.923 0.923 0825EA METFSID 0.923 0.001 2 0.923 — 2.33 48.9 1.175 1.035 — — 0821EA MYETFDJ 1.085 — — — — 2.18 302.8 1.075 0.974 — — 0824EA MYETFID 1.040 — — — — 3.03 53.7REITS 1.090 0.929 1.040 1.030 4952 AHP 1.030 UNCH 50 1.037 8.04 6.31 103.0 1.670 1.214 1.560 1.550 5116 ALAQAR 1.560 -0.010 691.5 1.559 16.05 4.95 1,136.0 1.070 0.856 1.060 1.040 5269 ALSREIT 1.060 -0.010 61.5 1.050 20.50 3.02 614.8 0.845 0.672 0.820 0.810 5120 AMFIRST 0.815 UNCH 162 0.816 8.27 6.26 559.4 0.950 0.782 0.935 0.930 5127 ARREIT 0.930 -0.005 36.2 0.930 8.82 6.96 533.1 1.090 0.984 1.090 1.080 5130 ATRIUM 1.080 -0.010 56 1.080 11.60 5.32 131.5 1.820 1.438 1.720 1.710 5106 AXREIT 1.710 UNCH 666.9 1.719 18.29 4.85 1,889.8 1.610 1.261 1.540 1.510 5180 CMMT 1.540 0.010 3326.8 1.536 16.96 5.32 3,128.4 1.650 1.407 1.650 1.580 5121 HEKTAR 1.650 0.070 406 1.639 226.03 6.36 661.0 1.710 1.188 1.610 1.590 5227 IGBREIT 1.600 UNCH 1260.1 1.599 21.62 5.08 5,581.2 7.990 6.638 7.990 7.780 5235SS KLCC 7.840 0.010 2784 7.877 12.48 4.49 14,153.8 1.339 0.965 1.270 1.270 5123 MQREIT 1.270 UNCH 100.9 1.270 12.13 6.72 840.0 1.890 1.376 1.790 1.770 5212 PAVREIT 1.780 -0.010 126.2 1.775 18.96 4.66 5,380.1 1.780 1.352 1.750 1.720 5176 SUNREIT 1.750 0.030 6385.3 1.731 15.88 5.25 5,153.9 1.220 1.086 1.210 1.210 5111 TWRREIT 1.210 0.010 14 1.210 12.25 5.73 339.4 1.870 1.423 1.690 1.690 5110 UOAREIT 1.690 -0.010 0.1 1.690 6.50 6.46 714.7 1.260 0.957 1.210 1.190 5109 YTLREIT 1.210 UNCH 975 1.201 — 6.52 1,602.5SPAC 0.720 0.670 — — 5234 CLIQ 0.720 — — — — — 454.3 0.730 0.610 0.715 0.710 5256 REACH 0.715 UNCH 1789.8 0.715 — — 913.6 0.480 0.425 — — 5241 SONA 0.475 — — — — — 670.1

MarketsB U R S A M A L A Y S I A M A I N M A R K E T . A C E M A R K E T


CONSUMER PRODUCTS 0.336 0.240 0.245 0.240 0179 BIOHLDG 0.245 0.005 1166 0.244 19.60 — 163.3 0.320 0.095 0.275 0.265 0170 KANGER 0.275 0.010 441 0.269 14.78 — 219.6 0.386 0.200 0.205 0.200 0148 SUNZEN 0.200 Unch 119.8 0.203 — 2.30 95.8 0.070 0.030 0.030 0.030 0095 XINGHE 0.030 Unch 10642.2 0.030 1.61 — 70.5INDUSTRIAL PRODUCTS 0.338 0.172 0.205 0.205 0105 ASIAPLY 0.205 Unch 383.5 0.205 8.69 2.93 62.2 0.095 0.045 0.060 0.045 0072 AT 0.050 -0.005 83274.4 0.053 — — 43.3 0.610 0.295 0.310 0.305 0163 CAREPLS 0.305 Unch 479.3 0.305 41.78 0.98 147.4 0.251 0.080 0.120 0.120 0102 CONNECT 0.120 -0.005 2235.7 0.120 48.00 — 31.5 0.642 0.363 0.490 0.485 0100 ESCERAM 0.485 -0.005 297 0.486 12.34 1.24 99.7 0.880 0.285 0.290 0.285 0175 HHGROUP 0.285 -0.005 254 0.290 — 1.16 88.0 0.125 0.070 0.080 0.080 0160 HHHCORP 0.080 0.005 129 0.080 — — 26.7 0.220 0.140 0.185 0.185 0162 IJACOBS 0.185 Unch 252.9 0.185 13.03 — 25.1 0.145 0.085 0.100 0.100 0024 JAG 0.100 -0.005 100 0.100 — — 114.4 0.180 0.120 0.135 0.130 0025 LNGRES 0.135 Unch 201.5 0.134 — — 32.7 0.290 0.100 0.125 0.115 0070 MQTECH 0.120 0.010 2694.1 0.120 — — 16.7 0.500 0.315 0.415 0.405 0049 OCNCASH 0.410 Unch 559.1 0.408 11.65 1.71 91.4 0.195 0.115 0.145 0.145 0038 PTB 0.145 Unch 43.9 0.145 12.18 — 21.8 0.190 0.065 0.075 0.070 0133 SANICHI 0.070 Unch 2060.7 0.070 5.38 — 60.1 0.060 0.040 0.040 0.040 0109 SCBUILD 0.040 Unch 374.3 0.040 — — 35.2 0.155 0.100 0.120 0.120 0001 SCOMNET 0.120 0.005 694.8 0.120 10.43 3.33 29.2 0.210 0.120 0.170 0.165 0028 SCOPE 0.165 -0.010 84.9 0.168 53.23 — 91.7 0.230 0.110 0.130 0.125 0055 SERSOL 0.130 0.005 85.2 0.126 — — 28.0 0.263 0.166 0.210 0.200 0084 TECFAST 0.205 0.005 575.2 0.205 13.14 2.44 35.1TECHNOLOGY 0.260 0.100 0.170 0.170 0018 ACCSOFT 0.170 Unch 10 0.170 — — 108.9 0.615 0.250 0.250 0.250 0181 AEMULUS 0.250 Unch 166.9 0.250 69.44 — 109.7 0.255 0.100 0.255 0.240 0119 APPASIA 0.250 0.015 7546.4 0.247 — — 70.3 0.760 0.155 0.220 0.200 0068 ASDION 0.220 Unch 7.5 0.207 — — 25.6 0.015 0.005 — — 0039 ASIAEP 0.010 — — — — — 8.1 1.310 0.710 1.010 0.995 0098 BAHVEST 1.010 Unch 139.5 0.999 — — 444.2 0.075 0.030 0.030 0.030 0152 DGB 0.030 Unch 1045 0.030 — — 14.7 0.090 0.020 0.030 0.030 0131 DGSB 0.030 Unch 850 0.030 14.29 — 40.7 0.150 0.065 0.070 0.065 0154 EAH 0.070 0.005 413 0.067 — — 104.4 0.355 0.215 0.220 0.215 0107 EDUSPEC 0.215 -0.005 173.6 0.217 17.20 — 195.3 0.095 0.050 0.075 0.070 0116 FOCUS 0.075 0.010 4869.1 0.070 — — 58.3 3.150 0.995 1.010 0.995 0104 GENETEC 1.000 Unch 58.9 0.999 42.02 — 35.2 0.050 0.030 0.045 0.045 0045 GNB 0.045 Unch 230 0.045 — — 13.0 0.125 0.075 0.080 0.075 0074 GOCEAN 0.080 Unch 222 0.078 — — 21.1 0.125 0.045 0.045 0.045 0174 IDMENSN 0.045 Unch 120 0.045 — — 22.3 1.051 0.455 0.470 0.455 0023 IFCAMSC 0.465 Unch 2776.7 0.461 150.00 2.15 282.9 0.300 0.070 0.090 0.090 0094 INIX 0.090 Unch 320 0.090 — — 20.8 0.275 0.130 0.170 0.165 0010 IRIS 0.170 Unch 1638.5 0.170 — — 382.0 0.854 0.470 — — 0146 JFTECH 0.540 — — — 65.06 1.85 68.0 1.500 0.375 1.420 1.380 0127 JHM 1.410 0.040 1045.4 1.408 16.53 — 174.5 0.340 0.180 0.190 0.185 0111 K1 0.185 -0.005 148.5 0.187 10.00 2.70 87.4 0.080 0.040 0.040 0.040 0036 KGROUP 0.040 Unch 100 0.040 — — 29.6 0.285 0.155 0.260 0.255 0176 KRONO 0.255 -0.005 941 0.255 7.41 — 63.3 0.325 0.060 0.065 0.060 0017 M3TECH 0.060 -0.005 1235 0.060 — — 35.2 0.300 0.050 0.265 0.255 0075 MEXTER 0.265 Unch 502 0.257 — — 52.2 0.970 0.420 — — 0155 MGRC 0.475 — — — 25.82 — 44.7 1.880 0.980 1.220 1.200 0126 MICROLN 1.200 Unch 17 1.207 81.63 — 200.8 0.588 0.354 0.505 0.490 0112 MIKROMB 0.500 0.005 653 0.498 14.33 2.20 153.0 0.135 0.060 0.075 0.075 0085 MLAB 0.075 -0.010 476 0.075 — — 14.0 0.070 0.055 0.055 0.055 0034 MMAG 0.055 Unch 140 0.055 — — 52.5 0.748 0.443 0.670 0.660 0113 MMSV 0.670 0.010 365 0.663 12.98 2.99 109.2 0.245 0.091 0.140 0.125 0103 MNC 0.130 Unch 3663.2 0.133 — — 49.1 0.300 0.145 0.160 0.160 0156 MPAY 0.160 Unch 729.1 0.160 — — 113.7 0.195 0.080 — — 0092 MTOUCHE 0.090 — — — 39.13 — 22.9 1.045 0.644 0.860 0.835 0108 N2N 0.845 Unch 36 0.843 38.58 2.37 402.5 0.060 0.020 0.025 0.020 0020 NETX 0.020 -0.005 1433 0.024 — — 25.0 0.095 0.040 0.060 0.055 0096 NEXGRAM 0.060 Unch 1961.4 0.059 8.96 — 113.0 0.145 0.085 0.090 0.090 0026 NOVAMSC 0.090 Unch 286 0.090 69.23 — 61.5 0.872 0.560 0.595 0.585 0035 OPCOM 0.595 0.005 253.2 0.589 12.63 3.36 95.9 0.414 0.267 0.355 0.350 0040 OPENSYS 0.350 Unch 761.9 0.350 17.77 2.86 104.3 0.730 0.160 0.195 0.180 0079 ORION 0.180 -0.010 37.9 0.185 — — 24.0 0.110 0.035 0.060 0.055 0005 PALETTE 0.060 Unch 20.1 0.055 11.76 — 19.2 0.305 0.140 0.150 0.145 0123 PRIVA 0.145 -0.005 268 0.146 40.28 1.38 80.9 0.140 0.060 0.060 0.060 0007 PUC 0.060 -0.005 2168 0.060 42.86 — 65.0 0.728 0.424 0.620 0.605 0106 REXIT 0.605 -0.015 27.3 0.612 15.92 3.31 114.5 0.090 0.010 — — 0135 SCN 0.010 — — — — — 2.0 0.484 0.225 0.250 0.235 0178 SEDANIA 0.235 Unch 3018.6 0.238 — 4.26 47.0 0.115 0.055 0.070 0.065 0060 SKH 0.070 0.005 4722.4 0.070 — — 38.8 0.370 0.160 0.195 0.185 0117 SMRT 0.195 Unch 1175.8 0.190 — — 55.7 0.130 0.060 0.065 0.065 0169 SMTRACK 0.065 0.005 769.2 0.065 — — 22.5 0.298 0.240 0.265 0.255 0093 SOLUTN 0.260 -0.005 2203 0.259 10.24 2.58 79.0 0.180 0.080 0.130 0.095 0129 SRIDGE 0.125 0.035 3967.8 0.118 — — 15.1 0.265 0.140 0.165 0.160 0050 SYSTECH 0.165 Unch 265.5 0.162 33.67 1.21 52.4 0.190 0.110 0.170 0.165 0132 TDEX 0.170 Unch 2580.3 0.169 188.89 — 70.2 0.235 0.155 0.215 0.215 0120 VIS 0.215 -0.005 9.2 0.215 18.22 — 23.8 0.291 0.190 0.195 0.190 0069 VIVOCOM 0.190 -0.005 12560.7 0.191 9.74 — 614.5 0.135 0.065 0.080 0.080 0066 VSOLAR 0.080 Unch 405 0.080 — — 26.7 0.230 0.025 — — 0141 WINTONI 0.025 — — — — — 12.8 0.195 0.100 0.105 0.100 0086 YGL 0.100 -0.005 97.4 0.102 — — 19.4 0.600 0.505 0.560 0.550 0009 YTLE 0.550 -0.010 105 0.556 21.07 7.27 742.5TRADING SERVICES 0.300 0.150 — — 0122 AIM 0.205 — — — — — 54.5 0.130 0.080 0.085 0.080 0048 ANCOMLB 0.085 0.005 42.7 0.083 — — 40.2 0.070 0.035 0.050 0.045 0150 ASIABIO 0.045 -0.005 2047 0.045 — — 42.9 0.379 0.213 0.335 0.330 0011 BTECH 0.330 -0.005 170 0.332 14.22 4.12 83.2 0.260 0.180 — — 0157 FOCUSP 0.210 — — — — — 34.7 0.665 0.500 0.530 0.505 0185 HSSEB 0.530 0.025 984.4 0.518 13.35 — 169.1 0.760 0.300 0.555 0.550 0147 INNITY 0.555 0.005 22 0.551 22.29 — 76.8 0.475 0.260 0.305 0.295 0180 KTC 0.300 0.010 1838.1 0.303 53.57 — 153.1 0.250 0.145 — — 0167 MCLEAN 0.145 — — — 6.02 — 25.9 0.600 0.345 0.375 0.370 0081 MEGASUN 0.375 -0.005 55 0.372 17.28 — 71.2 0.240 0.140 — — 0153 OVERSEA 0.180 — — — — 1.67 44.4 0.245 0.135 0.160 0.155 0177 PASUKGB 0.160 0.005 367.3 0.160 100.00 — 51.9 0.335 0.250 — — 0006 PINEAPP 0.270 — — — — — 13.1 0.303 0.207 0.220 0.215 0171 PLABS 0.220 Unch 105 0.216 12.36 3.18 45.5 0.020 0.005 — — 0110 RA 0.005 — — — — — 4.8 0.370 0.140 0.180 0.170 0080 RAYA 0.175 -0.005 546.2 0.175 — — 25.1 0.730 0.330 0.360 0.355 0032 REDTONE 0.360 Unch 181 0.355 — 0.56 272.7 0.745 0.480 — — 0173 REV 0.540 — — — 27.00 — 72.7 2.244 1.659 1.790 1.780 0158 SCC 1.790 Unch 3 1.784 10.74 2.79 76.6 0.260 0.165 0.245 0.240 0161 SCH 0.245 0.005 129.1 0.244 74.24 3.47 101.0 0.555 0.380 — — 0137 STEMLFE 0.520 — — — 157.58 — 128.7 0.055 0.030 0.035 0.035 0140 STERPRO 0.035 Unch 3122.5 0.035 — — 34.6 1.490 0.967 1.020 1.020 0089 TEXCYCL 1.020 Unch 104.1 1.020 27.35 0.74 174.2 0.200 0.115 0.140 0.135 0145 TFP 0.140 0.005 115 0.137 — — 28.7 0.705 0.120 0.135 0.130 0165 XOX 0.135 Unch 979 0.134 — — 80.3FINANCE 0.530 0.395 0.425 0.425 0053 OSKVI 0.425 Unch 76.7 0.425 236.11 4.71 84.0

MarketsB U R S A M A L A Y S I A E Q U I T Y D E R I V A T I V E S

TUESDAY OCTOBER 18, 2016 • THEEDGE FINANCIAL DAILY 2 8

Bursa Malaysia Equity Derivatives

0.130 0.030 0.030 0.030 5238CU AAX-CU 0.030 -0.005 1256.8 0.400 0.490 30.00 30/12/2016 0.160 0.055 0.060 0.060 5238CV AAX-CV 0.060 Unch 570.6 0.400 0.390 12.50 30/12/2016 0.150 0.075 0.080 0.080 5238CW AAX-CW 0.080 Unch 620 0.400 0.420 25.00 10/04/2017 0.080 0.050 0.050 0.050 5238CX AAX-CX 0.050 Unch 10237.1 0.400 0.600 62.50 28/02/2017 0.070 0.070 0.070 0.070 5238CZ AAX-CZ 0.070 Unch 30 0.400 0.450 30.00 27/03/2017 0.340 0.040 0.230 0.225 5238WA AAX-WA 0.230 Unch 1165.2 0.400 0.460 72.50 08/06/2020 0.285 0.120 0.180 0.180 6599CF AEON-CF 0.180 -0.030 1.9 2.850 2.650 2.46 31/01/2017 0.120 0.055 0.060 0.055 6599CG AEON-CG 0.055 -0.015 60 2.850 3.000 11.05 26/01/2017 0.115 0.080 0.090 0.090 5185CU AFFIN-CU 0.090 -0.005 135 2.180 2.300 11.70 06/06/2017 0.170 0.130 0.150 0.135 5185CV AFFIN-CV 0.140 -0.005 54.2 2.180 2.150 5.05 31/07/2017 0.150 0.080 0.090 0.080 7315WB AHB-WB 0.090 Unch 25 0.180 0.200 61.11 28/08/2019 0.670 0.085 0.505 0.505 509927 AIRASIAC27 0.505 -0.005 120 2.800 1.280 -0.18 28/10/2016 0.835 0.185 0.635 0.635 509930 AIRASIAC30 0.635 0.005 90 2.800 2.000 16.79 31/01/2017 0.485 0.110 0.280 0.270 509933 AIRASIAC33 0.280 0.005 949.2 2.800 2.100 0.00 28/10/2016 0.460 0.125 0.295 0.290 509934 AIRASIAC34 0.295 Unch 205 2.800 2.000 3.04 28/02/2017 0.460 0.190 0.300 0.290 509935 AIRASIAC35 0.300 0.005 882 2.800 2.000 3.57 17/02/2017 0.275 0.110 0.115 0.110 509936 AIRASIAC36 0.115 Unch 1584.1 2.800 2.850 14.11 30/12/2016 0.425 0.215 0.220 0.215 509937 AIRASIAC37 0.220 Unch 300 2.800 2.450 7.14 30/12/2016 0.280 0.125 0.130 0.125 509938 AIRASIAC38 0.130 Unch 896.3 2.800 2.650 10.89 28/04/2017 0.255 0.125 0.135 0.125 509940 AIRASIAC40 0.135 Unch 30.1 2.800 3.300 33.29 28/02/2017 0.260 0.200 0.230 0.225 7609WA AJIYA-WA 0.225 -0.005 401.6 0.790 0.920 44.94 28/08/2021 0.085 0.015 0.020 0.015 1015CW AMBANK-CW 0.020 Unch 1213 4.050 4.700 18.52 22/02/2017 0.040 0.010 0.025 0.025 0159WA AMEDIA-WA 0.025 Unch 444.9 0.240 1.100 368.75 02/01/2018 0.105 0.040 0.055 0.050 9342WA ANZO-WA 0.055 0.005 111.5 0.210 0.250 45.24 19/11/2019 0.155 0.050 0.145 0.135 0119WA APPASIA-WA 0.140 0.005 2068.8 0.250 0.130 8.00 23/12/2024 0.135 0.030 0.030 0.030 521015 ARMADA-C15 0.030 Unch 655 0.685 0.800 21.17 28/02/2017 0.080 0.010 0.010 0.010 521016 ARMADA-C16 0.010 Unch 100.7 0.685 0.800 19.27 30/11/2016 0.085 0.020 0.020 0.020 521017 ARMADA-C17 0.020 -0.005 2037.9 0.685 0.850 28.47 22/02/2017 0.155 0.065 0.070 0.065 521018 ARMADA-C18 0.070 Unch 681.6 0.685 0.680 14.60 31/01/2017 0.500 0.060 0.105 0.105 0068WB ASDION-WB 0.105 Unch 2.9 0.220 0.500 175.00 24/03/2019 0.035 0.015 0.020 0.020 0150WA ASIABIO-WA 0.020 Unch 100 0.045 0.100 166.67 19/04/2024 0.175 0.095 0.110 0.110 0105WA ASIAPLY-WA 0.110 Unch 73 0.205 0.100 2.44 13/12/2020 0.130 0.035 0.040 0.035 6399CV ASTRO-CV 0.040 0.005 459.5 2.820 3.000 9.22 31/01/2017 0.200 0.095 0.150 0.150 7099WB ATTA-WB 0.150 -0.005 20 0.870 1.000 32.18 09/05/2022 0.035 0.013 0.020 0.020 0072WA AT-WA 0.020 Unch 200.4 0.050 0.120 180.00 29/01/2019 0.150 0.025 0.025 0.025 6888C8 AXIATA-C8 0.025 -0.005 1744.1 5.090 5.850 16.40 31/01/2017 0.380 0.190 0.250 0.250 7078WA AZRB-WA 0.250 -0.010 12.5 0.625 0.700 52.00 13/05/2024 0.210 0.110 0.115 0.115 5248CN BAUTO-CN 0.115 -0.010 30 2.220 2.128 5.87 28/02/2017 0.210 0.080 0.125 0.125 7241WA BHS-WA 0.125 Unch 10 0.395 0.600 83.54 18/10/2020 0.425 0.225 0.330 0.320 5258WA BIMB-WA 0.325 -0.005 279.6 4.250 4.720 18.71 04/12/2023 0.195 0.090 0.090 0.090 6998WA BINTAI-WA 0.090 Unch 150 0.190 0.200 52.63 15/06/2020 0.160 0.100 0.100 0.100 3395WB BJCORP-WB 0.100 Unch 50 0.330 1.000 233.33 22/04/2022 0.145 0.060 0.110 0.100 7036WB BORNOIL-WB 0.110 0.010 150 0.175 0.100 20.00 28/02/2018 0.125 0.065 0.105 0.105 7036WC BORNOIL-WC 0.105 Unch 6520.3 0.175 0.100 17.14 08/11/2025 0.135 0.060 0.085 0.085 9938WB BRIGHT-WB 0.085 Unch 240 0.365 0.820 147.95 12/01/2019 0.210 0.085 0.090 0.090 1818C9 BURSA-C9 0.090 Unch 25.5 8.770 8.900 4.56 31/01/2017 1.330 0.505 1.060 1.050 7174WA CAB-WA 1.060 -0.020 63.7 1.650 0.550 -2.42 08/02/2020 0.505 0.325 0.340 0.330 7076WA CBIP-WA 0.330 -0.010 55 1.990 2.400 37.19 06/11/2019 0.170 0.050 0.080 0.075 5195WB CENSOF-WB 0.080 0.005 257.1 0.255 0.460 111.76 07/10/2019 0.215 0.135 0.175 0.165 102312 CIMB-C12 0.175 0.010 973.4 4.770 4.500 9.01 17/03/2017 0.165 0.110 0.120 0.120 2852CR CMSB-CR 0.120 Unch 100 3.900 3.600 7.69 30/12/2016 0.160 0.040 0.060 0.055 0102WA CONNECT-WA 0.060 0.005 417.3 0.120 0.100 33.33 17/09/2021 0.055 0.035 0.055 0.050 0102WB CONNECT-WB 0.055 Unch 765 0.120 0.100 29.17 07/06/2021 0.030 0.005 0.010 0.005 0152WA DGB-WA 0.005 Unch 452 0.030 0.110 283.33 22/04/2018 0.445 0.290 0.305 0.300 7277WA DIALOG-WA 0.305 -0.005 452.8 1.510 1.190 -0.99 10/02/2017 0.105 0.030 0.040 0.040 0029WA DIGISTA-WA 0.040 Unch 610 0.165 0.130 3.03 07/02/2017 0.090 0.045 0.055 0.055 0029WB DIGISTA-WB 0.055 -0.005 25 0.165 0.260 90.91 04/04/2023 0.095 0.045 0.070 0.065 4456WD DNEX-WD 0.065 -0.005 4703 0.285 0.500 98.25 30/07/2021 0.255 0.080 0.090 0.090 5265WA DOLPHIN-WA 0.090 0.005 50 0.380 0.800 134.21 29/03/2021 0.535 0.020 0.450 0.410 161919 DRBHCOMC19 0.415 Unch 9387.2 1.410 1.000 0.35 30/11/2016 0.180 0.020 0.145 0.130 161920 DRBHCOMC20 0.135 0.010 5839.4 1.410 1.100 1.95 30/11/2016 0.410 0.030 0.325 0.310 161921 DRBHCOMC21 0.310 -0.005 1023.7 1.410 0.950 0.35 15/12/2016 0.390 0.065 0.320 0.300 161922 DRBHCOMC22 0.310 0.005 2205 1.410 1.000 3.90 17/02/2017 0.170 0.100 0.135 0.125 161923 DRBHCOMC23 0.125 Unch 10747.4 1.410 1.300 16.13 28/02/2017 0.175 0.120 0.135 0.135 161924 DRBHCOMC24 0.135 0.005 90 1.410 1.500 30.32 06/06/2017 0.145 0.100 0.115 0.110 161925 DRBHCOMC25 0.110 Unch 2001.2 1.410 1.550 29.43 31/03/2017 0.140 0.115 0.140 0.125 161926 DRBHCOMC26 0.125 -0.005 10973.3 1.410 1.550 23.23 30/08/2017 0.105 0.025 0.025 0.025 5216CO DSONIC-CO 0.025 -0.005 25 1.510 1.550 6.79 28/10/2016 0.205 0.130 0.160 0.155 5216CP DSONIC-CP 0.155 Unch 1459.1 1.510 1.350 11.99 31/01/2017 0.135 0.090 0.105 0.100 5216CQ DSONIC-CQ 0.105 Unch 105 1.510 1.650 25.96 28/02/2017 0.260 0.110 0.180 0.175 3417WB E&O-WB 0.180 Unch 226.5 1.660 2.600 67.47 21/07/2019 0.090 0.030 0.035 0.035 0154WB EAH-WB 0.035 0.005 156 0.070 0.120 121.43 24/02/2019 0.090 0.035 0.040 0.040 0154WC EAH-WC 0.040 0.005 1020 0.070 0.100 100.00 18/06/2019 0.200 0.090 0.110 0.095 3557WC ECOFIRS-WC 0.110 Unch 13 0.270 0.300 51.85 10/09/2019 0.475 0.350 0.395 0.385 8206WA ECOWLD-WA 0.390 -0.005 80.9 1.360 2.080 81.62 26/03/2022 0.190 0.030 0.040 0.040 1368CG EDGENTA-CG 0.040 Unch 17.1 3.340 3.230 1.50 31/10/2016 1.480 0.300 1.120 1.080 0065WA EFORCE-WA 1.090 Unch 86.8 1.520 0.680 16.45 17/07/2019 0.815 0.390 0.490 0.480 8907WC EG-WC 0.485 Unch 395.3 0.885 0.500 11.30 03/11/2020 1.050 0.230 1.020 1.000 8877WB EKOVEST-WB 1.010 Unch 473.6 2.080 1.350 13.46 25/06/2019 0.625 0.305 0.425 0.405 5056WA ENGTEX-WA 0.420 0.010 219.8 1.280 0.830 -2.34 25/10/2017 0.860 0.130 0.145 0.140 7249WA EWEIN-WA 0.145 0.005 83 0.740 0.610 2.03 09/06/2017 0.085 0.035 0.050 0.050 3689CB F&N-CB 0.050 Unch 100 24.460 24.800 5.48 30/06/2017 0.230 0.100 0.135 0.125 7047WB FAJAR-WB 0.130 -0.005 30.2 0.500 0.700 66.00 24/09/2019 0.045 0.005 0.005 0.005 65062 FBMKLCI-C62 0.005 Unch 300 1,653 1,700 3.01 30/11/2016 0.120 0.055 0.060 0.060 65070 FBMKLCI-C70 0.060 Unch 935 1,653 1,630 1.11 30/12/2016 0.090 0.035 0.040 0.035 65076 FBMKLCI-C76 0.035 -0.005 435 1,653 1,670 2.47 31/01/2017 0.220 0.170 0.170 0.170 65082 FBMKLCI-C82 0.170 -0.015 60 1,653 1,650 3.89 31/01/2017 0.085 0.040 0.050 0.050 65084 FBMKLCI-C84 0.050 Unch 320.4 1,653 1,660 2.50 28/02/2017 0.060 0.035 0.040 0.035 65088 FBMKLCI-C88 0.040 Unch 2255 1,653 1,690 3.89 31/03/2017 0.215 0.055 0.085 0.080 65061 FBMKLCI-H61 0.085 0.010 303.4 1,653 1,710 7.00 31/10/2016 0.210 0.060 0.080 0.080 65067 FBMKLCI-H67 0.080 0.005 350 1,653 1,700 6.19 30/11/2016 0.140 0.025 0.035 0.030 65075 FBMKLCI-H75 0.035 0.010 215 1,653 1,630 0.05 30/12/2016 0.130 0.050 0.075 0.075 65081 FBMKLCI-H81 0.075 0.005 50 1,653 1,670 4.16 31/01/2017 0.115 0.060 0.075 0.075 65089 FBMKLCI-H89 0.075 0.005 320 1,653 1,660 3.56 28/02/2017 0.130 0.085 0.120 0.110 65093 FBMKLCI-H93 0.115 Unch 550.2 1,653 1,690 7.07 31/03/2017 0.615 0.525 0.575 0.565 65097 FBMKLCI-H97 0.575 0.020 147 1,653 1,740 13.91 28/02/2017 0.675 0.060 0.190 0.190 8605WB FFHB-WB 0.190 0.010 10.9 0.725 0.500 -4.83 30/03/2017 0.605 0.170 0.530 0.520 522212 FGV-C12 0.520 -0.010 30 2.350 1.350 1.70 14/03/2017 0.705 0.145 0.635 0.635 522213 FGV-C13 0.635 0.040 10 2.350 1.500 4.36 28/04/2017 0.490 0.165 0.425 0.405 522214 FGV-C14 0.405 Unch 250 2.350 1.600 2.55 17/03/2017 0.360 0.170 0.305 0.280 522215 FGV-C15 0.280 -0.015 4310.3 2.350 1.900 7.06 28/02/2017 0.255 0.125 0.220 0.205 522216 FGV-C16 0.210 Unch 10968.6 2.350 1.950 9.79 09/05/2017 0.265 0.165 0.230 0.225 522217 FGV-C17 0.225 0.005 200 2.350 2.200 16.60 31/03/2017 0.220 0.150 0.170 0.160 522219 FGV-C19 0.165 -0.005 3583.4 2.350 2.600 28.19 31/03/2017 0.180 0.140 0.155 0.145 522220 FGV-C20 0.145 Unch 814 2.350 2.300 16.38 27/03/2017 0.520 0.150 0.160 0.160 7210WA FREIGHT-WA 0.160 -0.020 63.7 1.200 0.970 -5.83 06/01/2017 0.150 0.040 0.040 0.040 539825 GAMUDA-C25 0.040 -0.010 0.1 4.870 4.700 1.44 28/10/2016 0.255 0.100 0.130 0.115 539826 GAMUDA-C26 0.130 0.010 1282.3 4.870 4.500 0.41 30/11/2016 1.410 0.805 1.330 1.310 5398WE GAMUDA-WE 1.320 0.010 811.5 4.870 4.050 10.27 06/03/2021 0.280 0.085 0.185 0.180 5226WA GBGAQRS-WA 0.180 -0.005 345.2 0.920 1.300 60.87 20/07/2018 0.110 0.060 0.070 0.070 0078CC GDEX-CC 0.070 Unch 138.8 1.650 1.600 9.70 22/02/2017 0.260 0.095 0.220 0.200 471515 GENM-C15 0.205 -0.015 1141 4.730 4.400 6.03 31/03/2017 3.200 2.180 2.890 2.890 2291WA GENP-WA 2.890 0.160 6.7 10.680 7.750 -0.37 17/06/2019 0.220 0.030 0.040 0.030 318228 GENTINGC28 0.030 -0.010 1037.7 7.820 7.800 4.35 23/11/2016 0.220 0.015 0.015 0.015 318229 GENTINGC29 0.015 -0.005 20 7.820 9.300 20.56 30/11/2016 0.190 0.055 0.060 0.055 318231 GENTINGC31 0.055 -0.005 280 4.730 8.300 84.78 31/03/2017 0.465 0.155 0.170 0.155 318232 GENTINGC32 0.165 -0.005 171.2 7.820 8.300 13.52 30/12/2016 2.380 0.820 1.320 1.270 3182WA GENTING-WA 1.280 -0.040 1420 7.820 7.960 18.16 18/12/2018 0.265 0.090 0.090 0.090 1147WA GOB-WA 0.090 -0.010 21 0.325 0.800 173.85 24/12/2019 0.100 0.025 0.030 0.030 0074WA GOCEAN-WA 0.030 -0.005 110 0.080 0.340 362.50 07/08/2019 0.050 0.025 0.030 0.025 7096WA GPA-WA 0.030 -0.005 368.3 0.095 0.100 36.84 03/06/2025 0.315 0.190 0.215 0.200 3034CR HAPSENG-CR 0.215 0.015 80 7.650 6.600 0.33 30/11/2016 0.240 0.020 0.030 0.030 5168CQ HARTA-CQ 0.030 Unch 110 4.920 4.780 2.64 28/10/2016 1.510 0.830 1.200 1.170 5095WB HEVEA-WB 1.170 Unch 1258.2 1.420 0.250 0.00 28/02/2020

YEAR YEAR DAY DAY CODE WARRANTS CLOSE +/- VOL PARENT EXE PR’M EXPIRY HIGH LOW HIGH LOW (RM) (RM) (‘000) PRICE PRICE (%) DATE


0.190 0.010 0.010 0.010 5072WA HIAPTEK-WA 0.010 Unch 518.3 0.305 0.690 129.51 09/01/2017 0.130 0.065 0.110 0.100 5072WB HIAPTEK-WB 0.105 0.005 4649.3 0.305 0.500 98.36 23/06/2021 0.315 0.190 0.200 0.195 7213WB HOVID-WB 0.195 Unch 391 0.380 0.180 -1.32 05/06/2018 0.935 0.175 0.285 0.175 65136 HSI-C36 0.190 -0.100 19553.4 12,475 23,200 87.34 28/10/2016 1.390 0.310 0.820 0.740 65138 HSI-C38 0.765 -0.185 300.7 12,474 21,800 80.27 28/10/2016 1.130 0.260 0.680 0.625 65148 HSI-C48 0.655 -0.065 3158.2 12,474 23,000 89.09 29/12/2016 1.090 0.495 0.800 0.675 65154 HSI-C54 0.695 -0.105 238.7 12,474 23,400 92.59 26/01/2017 0.955 0.545 0.600 0.545 65160 HSI-C60 0.565 -0.060 1362.7 12,475 24,200 98.06 27/02/2017 1.360 0.960 1.130 1.130 65162 HSI-C62 1.130 0.080 5 12,474 22,800 90.93 27/02/2017 0.560 0.340 0.385 0.340 65166 HSI-C66 0.350 -0.040 9781.6 12,475 26,000 110.94 30/03/2017 0.820 0.585 0.635 0.585 65168 HSI-C68 0.595 -0.065 115 12,475 24,600 101.49 30/03/2017 0.880 0.005 0.005 0.005 65141 HSI-H41 0.005 Unch 200 12,474 18,600 49.14 28/10/2016 1.740 0.005 0.015 0.015 65145 HSI-H45 0.015 Unch 1649 12,475 21,400 71.65 28/10/2016 1.420 0.045 0.095 0.090 65151 HSI-H51 0.095 0.010 1.1 12,475 20,800 67.41 29/11/2016 0.915 0.110 0.115 0.110 65153 HSI-H53 0.110 -0.040 56 12,474 19,000 53.10 29/12/2016 1.110 0.120 0.200 0.180 65155 HSI-H55 0.195 0.015 768.2 12,475 20,400 64.93 29/12/2016 1.600 0.225 0.375 0.335 65157 HSI-H57 0.365 0.010 2512.5 12,475 21,800 77.38 29/12/2016 0.710 0.225 0.345 0.320 65161 HSI-H61 0.340 0.025 1400.9 12,475 21,000 70.79 26/01/2017 1.040 0.355 0.560 0.500 65163 HSI-H63 0.540 0.040 9782.8 12,475 22,400 83.45 26/01/2017 0.520 0.285 0.395 0.365 65165 HSI-H65 0.395 0.035 147 12,475 20,600 67.98 27/02/2017 0.775 0.430 0.625 0.620 65167 HSI-H67 0.620 0.045 0.4 12,475 22,000 80.82 27/02/2017 1.220 0.755 1.050 1.010 65169 HSI-H69 1.040 0.085 38.4 12,475 23,400 95.08 27/02/2017 0.140 0.035 0.040 0.040 5225CZ IHH-CZ 0.040 -0.005 525.4 6.400 6.670 6.72 28/02/2017 0.140 0.050 0.060 0.050 3336C1 IJM-C1 0.060 0.005 800.4 3.290 3.450 8.51 31/03/2017 0.220 0.140 0.190 0.190 0166CR INARI-CR 0.190 -0.010 200 3.340 2.800 2.04 30/11/2016 2.320 1.050 1.770 1.750 0166WB INARI-WB 1.750 -0.040 105.6 3.340 1.600 0.30 17/02/2020 0.080 0.020 0.025 0.025 0094WA INIX-WA 0.025 Unch 180 0.090 0.100 38.89 16/11/2020 0.270 0.155 0.175 0.175 3379WB INSAS-WB 0.175 -0.005 450.1 0.720 1.000 63.19 25/02/2020 0.220 0.110 0.155 0.135 8834WB IREKA-WB 0.155 0.010 30.7 0.655 1.000 76.34 25/06/2019 0.150 0.030 0.070 0.065 5175WA IVORY-WA 0.065 -0.005 381.7 0.450 0.750 81.11 26/04/2017 0.135 0.045 0.100 0.070 9083WB JETSON-WB 0.100 0.040 155.6 0.270 0.750 214.81 06/02/2019 0.348 0.215 0.250 0.235 7167WA JOHOTIN-WA 0.240 Unch 1266.7 0.985 0.850 10.66 21/11/2017 0.105 0.005 0.015 0.010 4383CF JTIASA-CF 0.015 Unch 350.1 1.340 2.000 53.73 31/01/2017 0.075 0.005 0.005 0.005 4383CI JTIASA-CI 0.005 Unch 2710 1.340 1.700 28.54 28/11/2016 0.115 0.090 0.105 0.095 4383CK JTIASA-CK 0.105 0.010 464.3 1.340 1.300 20.52 28/02/2017 0.130 0.085 0.125 0.115 4383CL JTIASA-CL 0.120 0.010 2074.5 1.340 1.300 14.93 06/06/2017 0.080 0.070 0.080 0.070 4383CM JTIASA-CM 0.070 -0.080 1000 1.340 1.500 22.39 27/03/2017 0.025 0.010 0.010 0.010 3115WC KBUNAI-WC 0.010 Unch 5 0.055 0.131 156.36 20/10/2023 1.550 0.520 1.400 1.390 7161WA KERJAYA-WA 1.390 Unch 41.8 2.300 0.880 -1.30 20/12/2017 0.200 0.060 0.095 0.090 0151WA KGB-WA 0.090 -0.005 135 0.300 0.500 96.67 12/06/2019 0.880 0.360 0.780 0.765 5171WA KIMLUN-WA 0.775 Unch 155.8 2.130 1.680 15.26 12/03/2024 0.115 0.035 0.040 0.035 7164WA KNM-WA 0.035 Unch 188.5 0.410 0.980 147.56 15/11/2017 0.150 0.100 0.125 0.125 7164WB KNM-WB 0.125 Unch 113 0.410 1.000 174.39 21/04/2020 0.585 0.100 0.100 0.100 7017WB KOMARK-WB 0.100 -0.005 623.3 0.340 0.300 17.65 21/01/2020 0.210 0.145 0.160 0.160 7153CO KOSSAN-CO 0.160 -0.005 10 6.860 6.400 9.62 13/01/2017 0.240 0.110 0.130 0.130 7153CP KOSSAN-CP 0.130 -0.020 5 6.860 6.600 5.12 30/11/2016 0.810 0.470 0.670 0.660 5878WB KPJ-WB 0.670 Unch 30 4.210 4.010 11.16 23/01/2019 0.150 0.110 0.125 0.125 5038CG KSL-CG 0.125 0.010 360.1 1.130 1.200 17.26 06/06/2017 0.535 0.215 0.490 0.475 5789WB LBS-WB 0.475 -0.010 102.7 1.720 1.250 0.29 04/10/2020 0.250 0.155 0.165 0.165 7126WA LONBISC-WA 0.165 Unch 8 0.720 1.000 61.81 26/01/2020 0.040 0.025 0.030 0.030 5068WA LUSTER-WA 0.030 0.005 6 0.060 0.100 116.67 03/06/2022 0.060 0.025 0.030 0.025 0017WA M3TECH-WA 0.025 -0.005 790.2 0.060 0.100 108.33 21/08/2019 0.470 0.210 0.360 0.360 7617WB MAGNA-WB 0.360 0.030 1 1.010 0.900 24.75 04/09/2020 0.200 0.140 0.140 0.140 8583C4 MAHSING-C4 0.140 -0.040 40 1.600 1.500 6.88 13/01/2017 0.160 0.140 0.145 0.140 8583C6 MAHSING-C6 0.145 -0.005 200 1.600 1.650 12.19 31/07/2017 0.265 0.130 0.240 0.230 8583WB MAHSING-WB 0.235 Unch 275.4 1.600 1.440 4.69 16/03/2018 0.200 0.115 0.120 0.120 8583WC MAHSING-WC 0.120 -0.010 0.6 1.600 2.100 38.75 21/02/2020 0.100 0.035 0.035 0.035 5264CM MALAKOF-CM 0.035 Unch 40 1.560 1.600 9.29 28/11/2016 0.185 0.035 0.050 0.035 5264CN MALAKOF-CN 0.035 -0.015 563.5 1.560 1.600 5.93 30/12/2016 0.115 0.035 0.040 0.035 5264CO MALAKOF-CO 0.040 Unch 325.9 1.560 1.700 14.10 31/01/2017 0.130 0.080 0.085 0.080 5264CP MALAKOF-CP 0.080 Unch 400 1.560 1.700 16.67 09/05/2017 0.225 0.085 0.105 0.100 6181WB MALTON-WB 0.100 -0.005 20.5 0.650 1.000 69.23 29/06/2018 0.170 0.025 0.030 0.025 6012CT MAXIS-CT 0.025 -0.015 185.8 5.980 6.300 6.61 30/12/2016 0.025 0.005 0.005 0.005 5189WA MAXWELL-WA 0.005 Unch 69.7 0.025 0.400 1,520 24/03/2020 0.195 0.075 0.080 0.075 115522 MAYBANKC22 0.075 -0.005 770 7.600 8.150 11.38 31/01/2017 0.130 0.085 0.085 0.085 115524 MAYBANKC24 0.085 Unch 120 7.600 8.000 8.06 30/06/2017 0.425 0.175 0.395 0.375 5152WA MBL-WA 0.395 0.010 67.3 0.995 0.800 20.10 28/11/2022 0.280 0.035 0.110 0.100 5983WA MBMR-WA 0.100 Unch 102.3 2.630 3.200 25.48 14/06/2017 0.460 0.230 0.240 0.240 0081WA MEGASUN-WA 0.240 Unch 7 0.375 0.100 -9.33 29/04/2019 0.405 0.130 0.235 0.235 1694WB MENANG-WB 0.235 -0.010 160 0.855 1.000 44.44 09/07/2019 0.185 0.010 0.125 0.125 0075WA MEXTER-WA 0.125 -0.005 165 0.265 0.130 -3.77 17/09/2018 0.710 0.305 0.570 0.560 3069WA MFCB-WA 0.565 -0.035 597.4 1.980 2.220 40.66 08/04/2020 0.415 0.100 0.170 0.145 3662WB MFLOUR-WB 0.170 0.025 236.5 1.420 2.060 57.04 09/05/2017 0.225 0.050 0.060 0.060 5186CZ MHB-CZ 0.060 Unch 190 1.030 1.000 8.74 15/12/2016 0.355 0.260 0.290 0.275 5576WC MINHO-WC 0.290 0.010 243.3 0.665 0.500 18.80 02/08/2021 0.245 0.105 0.110 0.105 3816C7 MISC-C7 0.105 -0.025 300 7.500 7.800 9.60 30/12/2016 0.145 0.090 0.100 0.090 3816C8 MISC-C8 0.090 -0.005 410 7.500 7.500 6.00 31/05/2017 0.625 0.330 0.525 0.520 9571WD MITRA-WD 0.525 -0.005 62.9 1.380 1.090 17.03 23/08/2020 1.380 0.570 1.140 1.120 6114WB MKH-WB 1.140 -0.010 57.5 2.920 1.890 3.77 29/12/2017 0.100 0.020 0.025 0.025 0085WA MLAB-WA 0.025 Unch 770 0.075 0.100 66.67 24/04/2020 0.400 0.125 0.325 0.320 7595WA MLGLOBAL-WA 0.325 0.005 54 0.775 0.500 6.45 27/10/2019 0.175 0.110 0.130 0.130 2194C2 MMCCORP-C2 0.130 Unch 200 2.330 2.100 6.87 13/01/2017 0.110 0.075 0.080 0.080 2194C3 MMCCORP-C3 0.080 Unch 70 2.330 2.650 24.72 28/02/2017 0.165 0.145 0.165 0.160 2194C4 MMCCORP-C4 0.165 0.015 70 2.330 2.250 10.73 31/07/2017 0.155 0.035 0.125 0.115 1651C7 MRCB-C7 0.125 0.010 4030.9 1.360 1.220 8.09 31/03/2017 0.125 0.075 0.090 0.085 1651C8 MRCB-C8 0.090 0.010 554.6 1.360 1.350 15.81 28/02/2017 0.135 0.120 0.135 0.130 1651C9 MRCB-C9 0.135 0.005 220 1.360 1.450 16.54 30/08/2017 0.240 0.115 0.125 0.115 1651WA MRCB-WA 0.125 0.005 3102.7 1.360 2.300 78.31 14/09/2018 0.270 0.150 0.250 0.245 0138C1 MYEG-C1 0.250 0.005 688.1 2.330 2.100 11.59 30/06/2017 0.235 0.050 0.065 0.060 0138CV MYEG-CV 0.060 Unch 313 2.330 2.250 3.00 28/10/2016 0.100 0.020 0.055 0.050 0138CW MYEG-CW 0.050 -0.005 722.4 2.330 2.350 10.52 23/11/2016 0.145 0.040 0.120 0.115 0138CX MYEG-CX 0.115 Unch 1189.7 2.330 1.900 0.30 31/10/2016 0.165 0.060 0.135 0.125 0138CY MYEG-CY 0.130 Unch 16447.6 2.330 2.150 7.34 30/12/2016 0.180 0.060 0.165 0.155 0138CZ MYEG-CZ 0.155 0.005 55 2.330 2.000 9.12 14/03/2017 0.045 0.015 0.025 0.020 0096WA NEXGRAM-WA 0.020 -0.005 800.9 0.060 0.100 100.00 16/05/2022 0.030 0.010 0.020 0.020 0096WB NEXGRAM-WB 0.020 Unch 4307.1 0.060 0.260 366.67 21/07/2023 0.050 0.020 0.030 0.030 0096WC NEXGRAM-WC 0.030 Unch 50 0.060 0.100 116.67 15/01/2024 0.080 0.020 0.025 0.020 7139WA NICE-WA 0.020 -0.010 100 0.085 0.160 111.76 09/08/2017 0.125 0.015 0.030 0.025 0083WB NOTION-WB 0.025 -0.005 128.2 0.375 1.000 173.33 02/05/2017 0.270 0.150 0.240 0.230 0172WA OCK-WA 0.235 0.005 4709 0.800 0.710 18.13 15/12/2020 0.110 0.070 0.085 0.085 7071WC OCR-WC 0.085 Unch 202 0.395 0.500 48.10 24/07/2021 0.345 0.250 0.260 0.250 5053WC OSK-WC 0.250 -0.010 160.9 1.530 1.800 33.99 22/07/2020 0.095 0.010 0.035 0.035 0005WA PALETTE-WA 0.035 Unch 488.8 0.060 0.040 25.00 20/03/2018 0.280 0.210 0.210 0.210 129511 PBBANK-C11 0.210 -0.010 700 19.700 20.000 8.45 28/02/2017 0.155 0.100 0.135 0.135 129512 PBBANK-C12 0.135 -0.005 175 19.700 19.550 4.04 31/07/2017 0.400 0.155 0.360 0.350 9997WB PENSONI-WB 0.355 -0.005 622.7 0.770 0.600 24.03 20/01/2024 0.040 0.015 0.015 0.015 5146WA PERWAJA-WA 0.015 Unch 7 0.090 1.000 1,028 28/02/2022 0.290 0.120 0.195 0.185 8311WC PESONA-WC 0.185 Unch 350 0.420 0.250 3.57 27/01/2020 0.135 0.105 0.115 0.105 5681CR PETDAG-CR 0.110 -0.005 160.4 23.400 23.400 5.64 30/06/2017 0.205 0.095 0.120 0.105 6033CN PETGAS-CN 0.105 -0.005 45.4 21.599 21.200 3.99 31/03/2017 0.120 0.005 0.010 0.010 3042CA PETRONM-CA 0.010 Unch 1565 4.370 6.000 40.05 15/12/2016 0.590 0.330 0.505 0.505 1945WC PJDEV-WC 0.505 Unch 161.5 1.500 1.000 0.33 04/12/2020 0.455 0.105 0.425 0.420 8869CO PMETAL-CO 0.425 0.005 60 4.380 2.700 0.46 15/12/2016 3.380 0.990 3.300 3.280 8869WC PMETAL-WC 3.280 -0.020 31.7 4.380 1.100 0.00 22/08/2019 1.110 0.615 0.725 0.710 7088WB POHUAT-WB 0.715 0.005 297.1 1.630 1.000 5.21 21/10/2020 0.165 0.120 0.165 0.155 4634C2 POS-C2 0.160 -0.005 182 4.050 4.000 18.52 27/03/2017 0.200 0.180 0.200 0.180 4634C3 POS-C3 0.180 -0.010 281.5 4.050 4.000 16.54 30/08/2017 0.700 0.020 0.700 0.645 4634CV POS-CV 0.645 -0.030 486.1 4.050 2.770 0.25 31/10/2016 0.375 0.110 0.375 0.325 4634CX POS-CX 0.340 -0.005 3321.2 4.050 3.100 1.73 13/01/2017 0.450 0.145 0.450 0.450 4634CY POS-CY 0.450 0.015 5 4.050 2.800 2.47 13/01/2017 0.310 0.125 0.310 0.285 4634CZ POS-CZ 0.285 -0.020 981.5 4.050 3.000 5.74 31/01/2017 0.305 0.098 0.285 0.280 7168WA PRG-WA 0.285 -0.015 104.1 0.685 0.375 -3.65 06/07/2019 0.640 0.405 0.640 0.605 8966WA PRLEXUS-WA 0.640 0.030 362.7 1.600 1.200 15.00 14/06/2021 0.090 0.020 0.025 0.020 0007WA PUC-WA 0.025 Unch 324.2 0.060 0.100 108.33 25/12/2024 2.020 0.310 0.400 0.400 6807WB PUNCAK-WB 0.400 -0.010 0.1 1.140 1.000 22.81 20/07/2018 0.350 0.215 0.305 0.300 7134WA PWF-WA 0.300 -0.005 303.9 0.785 0.620 17.20 20/07/2021 5.100 4.310 4.650 4.650 7765WA RAPID-WA 4.650 Unch 26 5.750 1.000 -1.74 07/04/2017 0.075 0.020 0.060 0.055 5256WA REACH-WA 0.060 Unch 5564.7 0.715 0.750 13.29 12/08/2022

Main Market & Ace Market Warrants

MarketsB U R S A M A L A Y S I A E Q U I T Y D E R I V A T I V E S

TUESDAY OCTOBER 18, 2016 • THEED G E FINANCIAL DAILY 2 9

Please refer to the bursa malaysia website for the prices of Loan stocks, bonds and overseas structure warrants

China — Stocks fall most in three-weeks as Shanghai B shares slump

SHANGHAI: China stocks fell the most in three weeks yesterday, with sentiment soured by a late-afternoon tumble in Shanghai’s US dollar-denominated B shares as the yuan continued to weaken. The blue-chip CSI 300 Index fell 0.8% to 3,277.88 points, while the Shanghai Composite Index lost 0.7% to 3,041.17. The indices ended the morning session roughly flat, but began sliding in the afternoon as Shanghai’s B-share index tumbled over 6%. The B-share sell-off comes amid increasing worries about yuan’s value, which touched a fresh, six-year low against the greenback yesterday. B-shares are US dollar-denominated shares in Chinese companies, and thus vulnerable to further yuan depreciation. But there are no signs of panic selling despite continued weakness in the yuan, which some traders attribute mainly to the prospects of a US rate hike in December, rather than rapid deterioration in China’s economic health. Otherwise, investors are focused on a slew of economic data released last week, including gross domestic product (GDP), money supply, loan growth, urban investment, industrial output and retail sales. Supported by higher government spending and a housing boom, China’s

economy likely grew 6.7% in the third quarter from a year earlier, the same pace as in the previous quarter, according to a Reuters poll of economists on GDP data to be released tomorrow. Property shares in both Hong Kong and China fell as investors fear developers’ revenues will be adversely impacted by Beijing’s fresh real estate curbs. But industrial shares were fi rm, with some investors betting the sector is bottoming out, after China’s producer prices unexpectedly rose in September for the fi rst time in nearly fi ve years. Investors’ excitement towards China’s state company reforms continued to ferment yesterday, with Yunnan Tin Co ltd surging 10%, the maximum allowed, on a debt-to-equity swap deal struck between its parent and China Construction Bank. All main sectors fell, with real estate shares leading the decline. Meanwhile, Hong Kong shares drifted near 1½-month lows yesterday, as a cautious mood prevailed ahead of a slew of China data last week that investors hope will paint a clearer picture of how the world’s second largest economy is faring. The Hang Seng Index fell 0.8% to 23,037.54 points, while the China Enterprises Index lost 0.6%, to 9,541.08. The recent correction in Hong Kong stocks is natural after the market’s strong rally in the last quarter, and as mainland money infl ows have fallen sharply this

month, said Alex Wong, Hong Kong-based director at Ample Finance Group. “The market is looking for a direction. Last week’s China economic data will be in focus,” Wong said, adding September data so far — including encouraging production activity data and worse-than-expected export data — had sent mixed signals. All main sectors fell in Hong Kong yesterday, with telecom and services shares leading the decline. Macau gambling stocks, including Melco International, Wynn Macau Ltd and Galaxy, fell sharply on concern about their strategy for luring Chinese gamblers after Australia’s Crown Resorts Ltd said some of its staff have been detained in the mainland.

Japan — Nikkei rises as US dollar steady against yen; Tepco dives

TOKYO: Japan’s Nikkei Share Average rose in choppy trade yesterday as the dollar was steady against the yen, while Tokyo Electric Power stumbled after an anti-nuclear candidate won a Japanese regional election. The overall market’s mood had been supported by the US dollar’s return above ¥104 since last Friday when upbeat US retail sales data reinforced expectations for a December interest rate hike by the US Federal Reserve. Japanese stocks dipped in negative territory earlier when the greenback dipped

below the ¥104 level, but stocks recovered after the US dollar gained ground against the yen again. The Nikkei ended 0.26% or 43.75 points higher at 16,900.12. “Investors’ risk stances have improved since the upbeat US data, so unless the dollar falls against the yen further, the market should not fall sharply,” said Takuya Takahashi, a strategist at Daiwa Securities. Tokyo Electric Power Company Holdings dived 7.89% and was the third biggest percentage loser on the board, making the utility sector the worst performer. Ryuichi Yoneyama, 49, a doctor-lawyer who has never held office, won the vote on Sunday after a campaign dominated by concerns over the future of the Kashiwazaki-Kariwa power station and nuclear safety. Major exporters were mixed, with Toyota Motor Corp rising 0.62%, Honda Motor Co falling 0.1% and Advantest Corp advancing 1.02%. Real estate stocks and securities shares outperformed. Mitsui Fudosan Co rose 1.89%, Mitsubishi Estate Co gained 1.51%. Nomura Holdings gained 0.95% and Daiwa Securities added 0.84%. “Performances in the Japanese market will likely depend on the US dollar-yen levels until some companies start releasing their mid-year results later this week,” said Masashi Oda, general manager of strategic investment department at Sumitomo Mitsui Trust Asset Management. — Reuters

Shanghai CompositeIndex points

3,087.842

Mar 1, 2010 Oct 17, 2016

1900

2875

3850

4825

5800 3,041.167-22.642

(-0.74%)

Hang SengIndex points

21,056.93

Mar 1, 2010 Oct 17, 2016

23,037.54-195.77

(-0.84%)15800

19075

22350

25625

28900

Nikkei 225Index points

10,172.06

Mar 1, 2010 Oct 17, 2016

8100

11275

14450

17625

20800

16,900.12+43.75

(+0.26%)

ASX 200Index points

4,686.53

Mar 1, 2010 Oct 17, 2016

5,388.68-45.35

(-0.83%)

3600

4400

5200

6000

Bursa Malaysia Equity Derivatives

0.115 0.050 0.050 0.050 1066CW RHBBANK-CW 0.050 -0.005 186 4.550 5.000 14.29 31/05/2017 0.115 0.060 0.085 0.080 5270WA RSENA-WA 0.085 0.005 3057.5 0.420 0.500 39.29 01/12/2023 0.250 0.110 0.120 0.115 7185WA SAMUDRA-WA 0.120 0.005 40.1 0.410 0.300 2.44 02/01/2018 0.173 0.020 0.020 0.020 0133WB SANICHI-WB 0.020 Unch 35 0.070 0.210 228.57 13/03/2018 0.138 0.019 0.020 0.020 0133WC SANICHI-WC 0.020 Unch 960 0.070 0.210 228.57 24/09/2019 0.035 0.025 0.030 0.025 0133WD SANICHI-WD 0.030 0.005 425.2 0.070 1.000 1,372 21/07/2019 0.150 0.060 0.090 0.085 5157WA SAUDEE-WA 0.090 Unch 80.1 0.295 0.500 100.00 31/03/2021 0.025 0.005 0.005 0.005 0109WA SCBUILD-WA 0.005 Unch 20 0.040 0.050 37.50 16/06/2017 0.160 0.060 0.075 0.075 4731CD SCIENTX-CD 0.075 -0.005 30 6.600 6.500 9.85 13/01/2017 0.530 0.065 0.095 0.065 7073WA SEACERA-WA 0.095 0.015 10.1 0.795 1.000 37.74 16/05/2017 0.160 0.070 0.085 0.085 0055WA SERSOL-WA 0.085 Unch 20 0.130 0.180 103.85 18/04/2023 0.465 0.250 0.260 0.250 7246WA SIGN-WA 0.260 -0.005 97.8 0.825 0.970 49.09 21/04/2021 0.090 0.020 0.030 0.025 4197C5 SIME-C5 0.030 0.005 1150.1 7.750 8.300 10.97 28/11/2016 0.180 0.120 0.125 0.120 4197C7 SIME-C7 0.125 -0.010 774 7.750 8.400 16.45 28/02/2017 0.145 0.115 0.130 0.120 4197C8 SIME-C8 0.125 -0.015 1424.9 7.750 7.750 8.06 31/07/2017 0.100 0.010 0.010 0.010 521822 SKPETROC22 0.010 -0.010 15 1.630 2.080 30.06 28/11/2016 0.110 0.025 0.055 0.050 521825 SKPETROC25 0.055 Unch 1762.7 1.630 2.000 34.51 26/01/2017 0.110 0.015 0.015 0.015 521826 SKPETROC26 0.015 -0.005 1035 1.630 1.850 15.80 30/11/2016 0.205 0.125 0.180 0.175 521829 SKPETROC29 0.175 -0.005 1310.5 1.630 1.400 7.36 31/05/2017 0.115 0.085 0.095 0.090 521830 SKPETROC30 0.095 Unch 4582.3 1.630 1.990 33.74 28/02/2017 0.115 0.050 0.050 0.050 5218HD SKPETRO-HD 0.050 -0.005 10 1.630 1.600 10.43 26/01/2017 0.875 0.470 0.685 0.680 7155WA SKPRES-WA 0.685 0.005 75 1.340 0.650 -0.37 27/06/2017 0.255 0.025 0.050 0.050 0117WA SMRT-WA 0.050 -0.005 503.3 0.195 0.180 17.95 01/08/2017 1.000 0.730 0.800 0.790 5242WA SOLID-WA 0.800 Unch 48.4 1.330 0.500 -2.26 16/12/2020 0.185 0.100 0.170 0.165 0093WA SOLUTN-WA 0.170 Unch 884.8 0.260 0.200 42.31 04/07/2021 1.550 0.705 1.210 1.210 7103WA SPRITZER-WA 1.210 -0.030 59.4 2.450 1.180 -2.45 13/12/2016 0.225 0.035 0.205 0.170 8664CU SPSETIA-CU 0.205 Unch 21.8 3.500 3.200 3.14 31/01/2017 0.090 0.035 0.055 0.045 0129WA SRIDGE-WA 0.055 0.020 1163.9 0.125 0.180 88.00 24/02/2023 0.230 0.065 0.070 0.065 7143WA STONE-WA 0.070 -0.005 370 0.215 0.300 72.09 21/06/2020 0.095 0.035 0.040 0.035 1201WB SUMATEC-WB 0.040 Unch 360.1 0.080 0.175 168.75 13/11/2018 0.235 0.105 0.140 0.135 5263CC SUNCON-CC 0.140 Unch 1811 1.650 1.450 0.61 28/10/2016 0.085 0.005 0.005 0.005 5263CD SUNCON-CD 0.005 -0.015 280 1.650 1.800 9.85 28/10/2016 0.155 0.115 0.125 0.115 5263CE SUNCON-CE 0.120 -0.005 622.8 1.650 1.500 5.45 30/12/2016 0.155 0.120 0.135 0.135 5263CG SUNCON-CG 0.135 Unch 50 1.650 1.600 13.33 27/03/2017 0.140 0.060 0.075 0.060 0148WB SUNZEN-WB 0.075 0.005 11.3 0.200 0.250 62.50 25/02/2021 0.105 0.045 0.070 0.065 710617 SUPERMX-C17 0.070 Unch 60 2.280 2.500 18.86 14/03/2017 0.160 0.075 0.120 0.110 710618 SUPERMX-C18 0.115 -0.005 2156.1 2.280 2.200 9.10 28/04/2017 0.180 0.095 0.135 0.125 710619 SUPERMX-C19 0.135 Unch 1019.2 2.280 2.200 11.29 31/01/2017 0.070 0.045 0.055 0.050 710620 SUPERMX-C20 0.055 Unch 600 2.280 2.750 28.57 28/02/2017 0.430 0.050 0.095 0.075 7106C3 SUPERMX-C3 0.095 0.015 130.3 2.280 2.000 4.39 28/10/2016 0.385 0.025 0.035 0.030 7106C4 SUPERMX-C4 0.035 Unch 90 2.280 2.200 2.63 28/10/2016 0.345 0.165 0.185 0.180 7082WB SYF-WB 0.180 Unch 250.1 0.545 0.700 61.47 11/11/2019 0.275 0.150 0.150 0.150 1538WB SYMLIFE-WB 0.150 -0.010 0.1 0.670 1.100 86.57 11/11/2020 0.080 0.005 0.005 0.005 5012CG TAANN-CG 0.005 Unch 850 3.620 4.833 34.32 28/11/2016 0.560 0.170 0.250 0.250 8524WB TALIWRK-WB 0.250 -0.005 72 1.510 1.700 29.14 11/11/2018 0.140 0.055 0.065 0.065 534728 TENAGA-C28 0.065 -0.005 100 14.400 14.400 3.16 28/02/2017 0.170 0.070 0.070 0.070 534729 TENAGA-C29 0.070 -0.005 120 14.400 15.100 7.78 30/11/2016 0.790 0.360 0.375 0.375 7252WA TEOSENG-WA 0.375 -0.005 29.1 1.170 1.350 47.44 29/01/2020 3.560 0.760 2.850 2.790 7034WA TGUAN-WA 2.800 0.020 11.6 3.970 1.500 8.31 09/10/2019



0.165 0.035 0.085 0.080 486312 TM-C12 0.085 0.005 718.1 6.700 6.500 0.82 30/11/2016 0.215 0.025 0.025 0.025 486313 TM-C13 0.025 -0.025 50 6.700 7.000 5.78 28/10/2016 0.315 0.130 0.295 0.290 0101WB TMCLIFE-WB 0.290 Unch 1604 0.960 0.750 8.33 21/06/2019 0.765 0.340 0.655 0.655 8397WC TNLOGIS-WC 0.655 -0.010 49.5 1.630 1.000 1.53 26/12/2018 0.080 0.010 0.015 0.010 7113C1 TOPGLOV-C1 0.010 -0.005 330 4.930 7.000 44.42 31/01/2017 0.075 0.010 0.010 0.010 7113C2 TOPGLOV-C2 0.010 -0.015 190 4.930 7.000 44.22 31/01/2017 0.160 0.035 0.065 0.055 7113C6 TOPGLOV-C6 0.060 Unch 2870.9 4.930 5.150 10.55 28/02/2017 0.225 0.055 0.095 0.085 7113C7 TOPGLOV-C7 0.090 -0.015 1641.6 4.930 4.950 7.71 30/11/2016 0.260 0.205 0.225 0.215 7113C8 TOPGLOV-C8 0.225 -0.010 1114 4.930 4.700 13.59 31/03/2017 0.135 0.130 0.135 0.130 7113C9 TOPGLOV-C9 0.135 -0.015 140 4.930 5.000 15.11 27/03/2017 0.470 0.060 0.120 0.120 7113CW TOPGLOV-CW 0.120 -0.010 0.2 4.930 4.040 0.20 28/10/2016 0.170 0.020 0.030 0.030 5054WA TRC-WA 0.030 -0.005 49 0.415 0.500 27.71 20/01/2017 0.060 0.005 0.010 0.010 0118WA TRIVE-WA 0.010 -0.005 305 0.095 0.100 15.79 06/01/2017 0.390 0.250 0.270 0.270 5401WA TROP-WA 0.270 -0.005 10.5 1.020 1.000 24.51 06/12/2019 0.200 0.085 0.085 0.085 5230CG TUNEPRO-CG 0.085 -0.005 1240 1.570 1.650 21.34 31/03/2017 0.125 0.030 0.070 0.060 514828 UEMS-C28 0.060 -0.010 3777.5 1.220 1.050 0.82 28/11/2016 0.055 0.005 0.010 0.010 514829 UEMS-C29 0.010 -0.005 850 1.220 1.250 4.51 28/10/2016 0.085 0.060 0.075 0.070 514830 UEMS-C30 0.070 -0.005 818.4 1.220 1.400 29.10 28/02/2017 0.165 0.080 0.140 0.135 514831 UEMS-C31 0.140 Unch 2018.2 1.220 1.150 11.48 30/06/2017 0.085 0.085 0.085 0.085 514832 UEMS-C32 0.085 Unch 5 1.220 1.350 31.56 10/07/2017 0.100 0.010 0.015 0.015 4588CV UMW-CV 0.015 Unch 100 5.780 7.000 23.70 15/12/2016 0.210 0.125 0.135 0.125 4588CX UMW-CX 0.125 -0.015 175.7 5.780 5.700 13.75 17/03/2017 0.320 0.120 0.150 0.135 4588CY UMW-CY 0.135 -0.015 168 5.780 5.700 10.29 31/05/2017 0.110 0.010 0.010 0.010 5243C4 UMWOG-C4 0.010 Unch 3416.5 0.835 1.020 25.75 30/11/2016 0.060 0.005 0.005 0.005 5243C5 UMWOG-C5 0.005 Unch 100 0.835 1.300 56.59 15/12/2016 0.165 0.045 0.050 0.045 5243C7 UMWOG-C7 0.045 -0.010 1028.3 0.835 1.000 25.15 31/05/2017 0.055 0.030 0.030 0.030 5243C8 UMWOG-C8 0.030 -0.005 3050 0.835 1.150 45.99 28/02/2017 0.250 0.075 0.095 0.095 7091WA UNIMECH-WA 0.095 Unch 80 1.120 1.500 42.41 18/09/2018 0.200 0.090 0.140 0.140 5005CK UNISEM-CK 0.140 0.005 200 2.640 2.000 -3.03 28/10/2016 0.165 0.115 0.130 0.125 5005CQ UNISEM-CQ 0.130 0.010 200 2.640 2.250 4.92 14/03/2017 0.192 0.017 0.090 0.085 0069WB VIVOCOM-WB 0.085 -0.005 1365.8 0.190 0.200 50.00 07/09/2018 0.228 0.062 0.115 0.115 0069WC VIVOCOM-WC 0.115 Unch 282.4 0.190 0.100 13.16 22/01/2020 0.050 0.025 0.035 0.025 7070WB VIZIONE-WB 0.035 0.005 220 0.130 0.200 80.77 20/06/2018 0.320 0.090 0.265 0.250 7240WA VOIR-WA 0.265 0.015 90 0.705 0.500 8.51 31/03/2024 0.175 0.015 0.030 0.030 6963CA VS-CA 0.030 Unch 230.6 1.440 1.380 2.08 28/10/2016 0.150 0.005 0.010 0.010 6963CB VS-CB 0.010 -0.005 202.3 1.440 1.480 4.86 28/10/2016 0.165 0.105 0.140 0.140 6963CH VS-CH 0.140 -0.005 100 1.440 1.200 7.64 31/01/2017 0.085 0.055 0.070 0.070 6963CI VS-CI 0.070 -0.010 251.2 1.440 1.600 23.26 28/02/2017 0.515 0.195 0.345 0.330 6963WA VS-WA 0.335 -0.010 2719.1 1.440 1.650 37.85 06/01/2019 0.165 0.055 0.095 0.080 9679CX WCT-CX 0.085 0.005 7092 1.700 1.600 4.12 30/12/2016 0.290 0.155 0.230 0.215 9679WD WCT-WD 0.220 0.005 2886.5 1.700 1.710 13.53 11/12/2017 0.235 0.135 0.205 0.195 9679WE WCT-WE 0.200 0.005 4829.8 1.700 2.080 34.12 27/08/2020 0.125 0.100 0.100 0.100 5246CP WPRTS-CP 0.100 -0.005 50 4.280 4.400 9.81 31/07/2017 0.028 0.010 0.015 0.010 5156WC XDL-WC 0.015 Unch 198.3 0.030 0.040 83.33 02/07/2018 0.025 0.005 0.005 0.005 0095WA XINGHE-WA 0.005 Unch 1870 0.030 0.100 250.00 22/03/2019 0.085 0.040 0.045 0.045 0165WA XOX-WA 0.045 -0.005 226 0.135 0.200 81.48 10/02/2019 0.185 0.025 0.135 0.125 7020WB YKGI-WB 0.135 0.015 6458.6 0.340 0.500 86.76 28/05/2020 0.280 0.110 0.235 0.220 4677C4 YTL-C4 0.220 -0.005 598 1.750 1.500 -1.71 31/03/2017 0.200 0.075 0.200 0.190 6742CW YTLPOWR-CW 0.200 0.015 120 1.610 1.400 -0.62 31/05/2017 0.450 0.300 0.435 0.430 6742WB YTLPOWR-WB 0.430 -0.010 646.8 1.610 1.140 -2.48 11/06/2018 0.235 0.020 0.085 0.080 7028WA ZECON-WA 0.080 -0.005 151.9 0.585 1.060 94.87 03/03/2017 0.190 0.075 0.100 0.095 2283WA ZELAN-WA 0.100 -0.005 85.1 0.170 0.250 105.88 25/01/2019

Main Market & Ace Market Warrants

MarketsI N S I D E R M O V E S . T R A D I N G T H E M E S . E V E N T S . F O R E X


Local events to watch out for today

While every eff ort is made to ensure accuracy, the information presented is not an exhaustive list and is not an offi cial record of shareholder fi lings. Direct and indirect share are combined due to space constraints. Readers who are interested should check the offi cial fi lings fi led with Bursa Malaysia. Note: * denotes Ace Market

COMPANY SHARES ACQUIRED DIRECTOR/SUBSTANTIAL SHARES HELD TRANSACTION (DISPOSED) SHAREHOLDER AFTER CHANGE DATE

Insider moves (Filings on Oct 14, 2016)

Insider Moves show what substantial shareholders are doing with their stakes, which could be a signal of their views on the company’s outlook.

Note: Run your fi nger down the left-hand side until you reach the country of origin you plan to exchange. Then move your fi nger until that line intersects with the vertical column of the currency you wish to buy. The fi gure is how much you will get. The above rates are subject to change and provided by Thompson Reuters.

• First international conference on virtual systems and multimedia, a premier world forum for the presentation of research on 3D acquisition, multimedia visualisation, interaction technologies and their applications at Sunway University, JC1 Auditorium, Jalan PJS 11/5, Bandar Sunway, Selangor from 8.30am to 5.30pm.

• C A A N Z - M I C PA A u d i t Fo r u m o n “Transforming Audit through Big Data & Analysis” at Sime Darby Convention Centre from 9am to noon.

• Human Resources Development Fund apprenticeship scheme convocation at Setia City Convention Centre Shah Alam from 9am to 1pm.

• Naza TTDI Group reveals details of the Master plan for the Kuala Lumpur Metropolis

and new showroom at Naza Tower @ Platinum Park, Level 30, Kuala Lumpur from 2.30pm to 10pm.

• MaCGDI receives a global tech award and an exclusive showcase of the government’s use of location-based analytics at Putrajaya International Convention Centre Hall B2 at 1pm.

• Korea Tourism Organization’s president, Jung Chang Soo visit to Malaysia press conference on Muslim tourism in Korea at Grand Hyatt Hotel, Kuala Lumpur at 7pm.

• IICKL event titled“Do you have what it takes to be a CEO?” by Professor Alex Frino, deputy vice chancellor and professor of economics at Inti International College Kuala Lumpur from 7pm to 9pm.

Foreign exchange rates NZ EURO US SWISS BRIT CANADA BRUNEI S’PORE AUST M’SIA CHINA BANGL’H DENM’K UAE INA INDIA JAPAN NORWAY PHIL QATAR SAUDI SWEDEN THAI HK

NZ $ 0.648 0.712 0.704 0.586 0.936 0.989 0.990 0.935 3.0051 4.797 55.822 4.819 2.615 9,304 47.600 74.145 5.848 34.575 2.592 2.670 6.280 25.130 5.525

EURO 1.544 1.099 1.087 0.905 1.445 1.528 1.528 1.444 4.6395 7.406 86.182 7.439 4.038 14,364 73.488 114.471 9.028 53.380 4.002 4.122 9.696 38.798 8.530

US $ 1.404 0.910 0.989 0.823 1.314 1.389 1.390 1.314 4.2200 6.737 78.390 6.767 3.673 13,065 66.843 104.120 8.212 48.553 3.641 3.750 8.819 35.290 7.758

SWISS FR 1.420 0.920 1.011 0.832 1.329 1.405 1.405 1.328 4.2669 6.812 79.261 6.842 3.713 13,210 67.586 105.278 8.303 49.093 3.681 3.791 8.917 35.682 7.845

STERLING £ 1.706 1.105 1.215 1.202 1.597 1.688 1.688 1.596 5.1269 8.184 95.236 8.221 4.462 15,873 81.208 126.496 9.976 58.988 4.423 4.555 10.715 42.874 9.426

CANADA $ 1.069 0.692 0.761 0.753 0.626 1.057 1.057 1.000 3.2111 5.126 59.649 5.149 2.795 9,941 50.862 79.228 6.248 36.945 2.770 2.853 6.711 26.853 5.904

BRUNEI $ 1.011 0.655 0.720 0.712 0.592 0.946 1.000 0.945 3.0373 4.849 56.420 4.870 2.643 9,403 48.110 74.940 5.910 34.946 2.620 2.699 6.348 25.400 5.584

SINGAPORE $ 1.010 0.655 0.720 0.712 0.592 0.946 1.000 0.945 3.0366 4.848 56.407 4.869 2.643 9,401 48.098 74.922 5.909 34.938 2.620 2.698 6.346 25.394 5.583

AUSTRALIA $ 1.069 0.692 0.761 0.753 0.627 1.000 1.058 1.058 3.2127 5.129 59.678 5.152 2.796 9,946 50.888 79.267 6.252 36.964 2.772 2.855 6.714 26.866 5.907

MALAYSIA RM 0.333 0.216 0.237 0.234 0.195 0.311 0.329 0.329 0.311 1.0000 1.596 18.576 1.603 0.870 3,096 15.840 24.673 1.946 11.505 0.863 0.889 2.090 8.363 1.839

100 CHINESE RMB 20.845 13.502 14.844 14.681 12.218 19.508 20.624 20.629 19.498 62.6420 1,164 100.446 54.516 193,938 992.223 1,546 121.895 720.727 54.040 55.659 130.913 523.846 115.168

100 BANGLAD’H TAKA 1.791 1.160 1.276 1.262 1.050 1.676 1.772 1.773 1.676 5.3833 8.594 8.632 4.685 16,667 85.270 132.824 10.475 61.938 4.644 4.783 11.250 45.018 9.897

100 DANISH KRONER 20.753 13.442 14.778 14.616 12.164 19.421 20.533 20.537 19.412 62.3640 99.56 1,158 54.274 193,077 987.82 1,539 121.35 717.53 53.80 55.41 130.33 521.52 114.66

100 UAE DIRHAM 38.237 24.767 27.229 26.929 22.412 35.784 37.831 37.840 35.766 114.9050 183.43 2,134 184.25 355,743 1,820 2,835 223.59 1,322 99.13 102.10 240.14 960.90 211.25

1000 INA RUPIAH 0.107 0.070 0.077 0.076 0.063 0.101 0.106 0.106 0.101 0.3230 0.516 6.000 0.518 0.281 5.116 7.969 0.629 3.716 0.279 0.287 0.675 2.701 0.594

100 INDIA RUPEE 2.101 1.361 1.496 1.480 1.231 1.966 2.079 2.079 1.965 6.3133 10.078 117.275 10.123 5.494 19,546 155.769 12.285 72.638 5.446 5.610 13.194 52.795 11.607

100 JAPAN YEN 1.349 0.874 0.960 0.950 0.791 1.262 1.334 1.335 1.262 4.0530 6.470 75.288 6.499 3.527 12,548 64.198 7.887 46.632 3.496 3.601 8.470 33.893 7.451

100 NORWEGIAN KRONER 17.101 11.077 12.178 12.044 10.024 16.004 16.920 16.924 15.996 51.3900 82.038 955 82.403 44.724 159,102 813.996 1,268 591.267 44.333 45.662 107.398 429.751 94.481

100 PHILIPPINE PESO 2.892 1.873 2.060 2.037 1.695 2.707 2.862 2.862 2.705 8.6915 13.875 161.452 13.937 7.564 26,909 137.670 214.446 16.913 7.498 7.723 18.164 72.683 15.979

100 QATAR RIYAL 38.574 24.985 27.469 27.167 22.610 36.099 38.165 38.174 36.081 115.9181 185.049 2,153 185.873 100.882 358,880 1,836 2,860 225.565 1,334 102.997 242.253 969.369 213.116

100 SAUDI RIYAL 37.451 24.258 26.670 26.376 21.952 35.049 37.054 37.063 35.031 112.5453 179.664 2,091 180.465 97.946 348,437 1,783 2,777 219.002 1,295 97.090 235.204 941.164 206.915

100 SWEDISH KRONOR 15.923 10.314 11.339 11.214 9.333 14.901 15.754 15.758 14.894 47.8500 76.386 888.852 76.727 41.643 148,142 757.924 1,181 93.112 550.538 41.279 42.516 400.147 87.972

100 THAI BAHT 3.979 2.577 2.834 2.803 2.332 3.724 3.937 3.938 3.722 11.9581 19.090 222.131 19.175 10.407 37,022 189.411 295.043 23.269 137.584 10.316 10.625 24.991 21.985

100 HK$ 18.100 11.724 12.889 12.747 10.609 16.939 17.908 17.912 16.930 54.3920 86.830 1,010.375 87.217 47.336 168,396 861.546 1,342 105.842 625.807 46.923 48.329 113.672 454.855

STOCK HIGH LOW CLOSE VOLUME (RM) (RM) (RM) ('000)

STONE 0.230 0.175 0.215 853.8UMW-CX 0.135 0.125 0.125 175.7BENALEC 0.395 0.390 0.390 618.3ARMADA-C18 0.070 0.065 0.070 681.6AIRASIAC38 0.130 0.125 0.130 896.3ITRONIC 0.095 0.075 0.090 787.9EATECH 0.685 0.650 0.685 842.9GENETEC 1.010 0.995 1.000 58.9IJM-C1 0.060 0.050 0.060 800.4AIRASIAC36 0.115 0.110 0.115 1584.1TOPGLOV-C2 0.010 0.010 0.010 190GENTINGC32 0.170 0.155 0.165 171.2

This table shows stocks that are trading near their year low. This could suggest a build-up in selling momentum, or the possibility that bargain hunting could set in later.

STOCK HIGH LOW CLOSE VOLUME (RM) (RM) (RM) ('000)

HAIO 3.880 3.800 3.860 548.9POS 4.170 4.030 4.050 3043.7POS-CY 0.450 0.450 0.450 5POS-CZ 0.310 0.285 0.285 981.5POS-CX 0.375 0.325 0.340 3321.2PENTA 1.490 1.430 1.480 2364.3POS-CV 0.700 0.645 0.645 486.1WCT 1.760 1.700 1.700 7094.4POS-C3 0.200 0.180 0.180 281.5TITIJYA 1.810 1.700 1.800 4178.4APOLLO 6.330 6.080 6.200 43.9APPASIA 0.255 0.240 0.250 7546.4

This table shows stocks that are trading near their year high. This could suggest a build-up in buying momentum, or the possibility that profi t-taking activities could set in later.

Trading themes

Stocks closest to year high Stocks closest to year low

Italy’s lagging economyGross domestic product change since the fi rst quarter of 2011.

China’s stainless steel production 2009 to 2016

AL-’AQAR HEALTHCARE REIT 1,000,000 EMPLOYEES PROVIDENT FUND BOARD 64,754,338 11/10ASIA BRANDS 2,000,000 EVEREST HECTARE S/B 47,237,477 12/10BERJAYA AUTO (1,401,800) KUMPULAN WANG PERSARAAN 70,296,020 4 & 5/10 (DIPERBADANKAN) BIMB HOLDNGS 1,033,100 EMPLOYEES PROVIDENT FUND BOARD 197,259,001 10 & 11/10BUMI ARMADA (3,000,000) EMPLOYEES PROVIDENT FUND BOARD 333,102,100 11/10CAPITALAND MALAYSIA (1,000,000) EMPLOYEES PROVIDENT FUND BOARD 224,943,100 11/10MALL TRUST CAPITALAND MALAYSIA 1,050,000 KUMPULAN WANG PERSARAAN 133,020,900 5/10MALL TRUST (DIPERBADANKAN)CAPITALAND MALAYSIA 4,040,600 AMANAHRAYA TRUSTEES 179,040,600 12/10MALL TRUST - SKIM AMANAH SAHAM BUMIPUTERADIALOG GROUP 1,900,000 KUMPULAN WANG PERSARAAN 335,763,416 4 & 5/10 (DIPERBADANKAN)DIGI.COM 1,000,000 KUMPULAN WANG PERSARAAN 390,871,300 4/10 (DIPERBADANKAN)DIGI.COM 8,614,700 EMPLOYEES PROVIDENT FUND BOARD 930,170,240 10 & 11/10FELDA GLOBAL VENTURES 1,179,000 KUMPULAN WANG PERSARAAN 241,426,600 4 & 5/10 (DIPERBADANKAN) GAMUDA (3,057,700) AMANAHRAYA TRUSTEES 12/10 - SKIM AMANAH SAHAM BUMIPUTERAIGB REAL ESTATE INVEST TRUST 1,304,700 EMPLOYEES PROVIDENT FUND BOARD 251,120,013 7 & 11/10IGB REAL ESTATE INVEST TRUST (2,270,000) KUMPULAN WANG PERSARAAN 218,077,600 4/10 (DIPERBADANKAN)IHH HEALTHCARE 1,091,200 EMPLOYEES PROVIDENT FUND BOARD 768,355,900 11/10IJM CORPORATION (2,664,000) AMANAHRAYA TRUSTEES 2,664,000 12/10 - SKIM AMANAH SAHAM BUMIPUTERAIJM CORPORATION 2,000,000 EMPLOYEES PROVIDENT FUND BOARD 512,207,658 11/10KUALA LUMPUR KEPONG 3,497,700 EMPLOYEES PROVIDENT FUND BOARD 145,596,288 11/10MAH SING GROUP 1,183,400 EMPLOYEES PROVIDENT FUND BOARD 235,528,561 11/10MAH SING GROUP (1,000,000) KUMPULAN WANG PERSARAAN 132,106,247 5/10 (DIPERBADANKAN)MALAKOFF CORPORATION 5,215,600 KUMPULAN WANG PERSARAAN 443,158,434 4 & 5/10 (DIPERBADANKAN)MALAYSIA AIRPORTS (2,461,900) AMANAHRAYA TRUSTEES 178,269,000 12/10 - SKIM AMANAH SAHAM BUMIPUTERAMAXIS (2,500,000) AMANAHRAYA TRUSTEES 606,072,500 12/10 - SKIM AMANAH SAHAM BUMIPUTERAMILUX CORPORATION 1,104,000 DINAMIK HARTANIAGA S/B 6,264,000 12/10ONLY WORLD GROUP 12,100,000 EMPLOYEES PROVIDENT FUND BOARD 12,100,000 11/10PETRONAS CHEMICALS GROUP 8,500,000 EMPLOYEES PROVIDENT FUND BOARD 757,046,650 11/10PUBLIC BANK 1,928,600 EMPLOYEES PROVIDENT FUND BOARD 476,259,710 11/10S P SETIA 1,000,000 KUMPULAN WANG PERSARAAN 282,566,969 4/10 (DIPERBADANKAN)SAPURAKENCANA PETROLEUM (3,050,000) EMPLOYEES PROVIDENT FUND BOARD 796,627,564 11/10SAPURAKENCANA PETROLEUM 4,299,100 KUMPULAN WANG PERSARAAN 315,775,724 4 & 5/10 (DIPERBADANKAN)SIME DARBY 10,000,000 AMANAHRAYA TRUSTEES 2,711,308,522 12/10SIME DARBY 2,127,900 EMPLOYEES PROVIDENT FUND BOARD 768,943,809 11/10SIME DARBY (10,900,000) PERMODALAN NASIONAL 364,735,322 12/10SUNWAY REAL ESTATE (6,477,700) AMANAHRAYA TRUSTEES 236,530,400 12/10INVEST TRUST - SKIM AMANAH SAHAM BUMIPUTERATELEKOM MALAYSIA 2,414,200 EMPLOYEES PROVIDENT FUND BOARD 577,514,630 7 & 1110TELEKOM MALAYSIA 1,000,000 AMANAHRAYA TRUSTEES 427,406,000 12/10 - SKIM AMANAH SAHAM BUMIPUTERAUMW (1,149,000) EMPLOYEES PROVIDENT FUND BOARD 185,713,456 7/10UMW OIL & GAS CORPORATION (1,000,000) EMPLOYEES PROVIDENT FUND BOARD 7/10WCT (1,058,100) KUMPULAN WANG PERSARAAN 80,268,688 4 & 5/10 (DIPERBADANKAN)WESTPORTS 1,606,400 EMPLOYEES PROVIDENT FUND BOARD 184,225,900 11/10YINSON 2,962,300 EMPLOYEES PROVIDENT FUND BOARD 106,127,300 7 & 1110

MarketsF U T U R E S . M O N E Y M A R K E T . C O M M O D I T I E S

3 1


Index futures

FUTURES FAIR VALUECONTRACT DAYS TO EXPIRY KLIBOR DIVIDEND FAIR VALUE

FUTURES ROLL OVER BID OFFER CLOSE

OCT/NOV 0.5 0.0 0.5

INDEX AND FUTURES OPEN CHANGE INCONTRACT LAST CHANGE VOLUME INTEREST OPEN INTEREST

Money market

Commodities

NOV/DEC 10NOV/JAN 12NOV/FEB 13DEC/JAN 2

CPO FUTURES INDICATIVE ROLL-OVER

CPO/SOYOIL FUTURES BASIS (USD)CURRENT -113.903 MONTHS AVERAGE -90.506 MONTHS AVERAGE -83.08

OPEN CHANGE INCONTRACT LAST CHANGE VOLUME INTEREST OPEN INTEREST

NOV-16 2,781 100 1,619 11,705 -2,311DEC-16 2,771 111 17,879 67,915 -4,100JAN-17 2,769 111 21,420 62,134 6,334FEB-17 2,768 111 3,773 17,825 404MAR-17 2,767 108 4,478 26,687 202

Palm oil rises to six-month high on surge in rival soy oil

CPO prices react to various factors including soyoil prices, weather conditions and stockpiles. Open interest shows either increasing or decreasing market participation.

Oil prices fi rm, rise in US drilling weighs

METAL & PRECIOUS METALSTIN US$/TON KLTM 19,580 -20COPPER USC/IBS CMX 2.1125 0.0020GOLD US$/TROY OZ CMX 1,253.50 -0.50PLATINUM US$/TROY OZ NYMEX 936.00 -0.10PALLADIUM US$/TROY OZ NYMEX 650.15 0.00SILVER USC/TROY OZ CMX 17.35 -0.07ALUMINIUM RMB/TON SHF 12,515 -140ZINC RMB/TON SHF 17,965 240

ENERGYLIGHT CRUDE OIL US$/BBL NYMEX 50.27 -0.08HEATING OIL USC/GAL NYMEX 1.5857 -0.0019NATURAL GAS US$/MMBTU NYMEX 3.477 -0.026BRENT CRUDE US$/BBL ICE 52.03 0.08GAS OIL US$/TON ICE 463.75 2.50

CRUDE PALM OIL RM/TON MDEX 2,769 111RUBBER SEN/KG MRB 640.00 -0.50CORN USC/BSH CBOT 356.75 2.50SOYBEANS USC/BSH CBOT 971.25 8.75WHEAT USC/BSH CBOT 423.00 2.00LIVE CATTLE USC/IBS CME 97.45 1.45COCOA US$/TON NYBOT 2,612 -41COFFEE USC/IBS NYBOT 158.50 -0.30SUGAR USC/IBS NYBOT 22.40 0.16COTTON USC/IBS NYC 70.49 -0.70

AGRICULTURE UNIT EXCHANGE LAST PRICE CHANGE

Rubber - M’sia SMR 20

Sen/Kg

Jan 7, 2007 Oct 17, 2016

200

575

950

1325

1700

640.00(-0.50)

SGS & ITS EXPORT ESTIMATES (TONNES)SHIPMENT DAYS

1 - 10TH DAYS1- 15TH DAYS1 - 20TH DAYS1 - 25TH DAYSFULL MONTH

JUL’16 AUG’16 SEP’16

394/388 466/456 396/380 571/561 751/733 668/670 820/818 1,045/1,027 917/914 1,014/1,005 1,316/1,317 1,109/1,112 1,283/1,273 1,621/1,621 1,366/1,378

MALAYSIAN PALM OIL BOARD

PRODUCTIONEXPORT STOCKS

FKLI

Index points Open Interest

Jan 4, 2010

2000

24000

46000

68000

90000

1220

1410

1600

1790

1980

Oct 17, 2016

1,646.50(-9.00)

Klibor

Implied interest rate (%)

Oct 1, 2000

3.38(+0.03)

Oct 17, 2016

1.5

2.5

3.5

4.5

Centrifuged Latex

Sen/Kg

Jan 7, 2007

488.50(+0.50)

Oct 17, 2016

300

500

700

900

1100

CPO futures

FBM KLCI futures

OCT6 96.62 -0.03 — —NOV6 96.62 -0.03 — —DEC6 96.62 -0.03 20 40MAR7 96.62 -0.03 — —JUN7 96.57 -0.03 — —SEP7 96.53 -0.03 — —DEC7 96.48 -0.03 — —MAR8 96.48 -0.03 — —JUN8 96.48 -0.03 — —SEP8 96.48 -0.03 — —DEC8 96.48 -0.03 — —MAR9 96.48 -0.03 — —JUN9 96.48 -0.03 — —SEP9 96.48 -0.03 — —DEC9 96.48 -0.03 — —MAR0 96.48 -0.03 — —JUN0 96.48 -0.03 — —SEP0 96.48 -0.03 — —DEC0 96.48 -0.03 — —MAR1 96.48 -0.03 — —JUN1 96.48 -0.03 — —SEP1 96.48 -0.03 — —TOTAL 20 40

MONTH SETTLEMENT CHANGE VOLUME OPEN PRICE INTEREST

Klibor

Malaysian palm oil surged to its highest level in about six months yesterday, tracking a rally in its rival oilseed soy and gaining on forecasts of weaker production growth for the month of October. Th e weakness in the ringgit, palm’s traded currency, also lent support to the market, as it makes the tropical oil cheaper for foreign currency holders. It fell 0.4% to reach 4.2150 against the US dollar in the evening. Benchmark palm oil futures for January on Bursa Malaysia Derivatives rose 4.1% to RM2,769 a tonne at the end of the trading day, its strongest daily gain in over a year. It also hit an intraday high of RM2,778, its highest level since April 5. Palm oil primarily rose after strong gains in soy oil, said three traders based in Kuala Lumpur, while other factors such as slower output growth and the weakening ringgit lent support to the market. “We’re getting more news from planters that production is not as good as it could be,” said a trader, refl ecting the lagging eff ects of last year’s crop-damaging El Nino. “We’re also entering the monsoon season, and are seeing heavy rains in Johor,” added the trader, explaining that rains from the year-end monsoon season could disrupt palm oil production in the short term. Palm oil prices are also infl uenced by soy oil’s performance because they compete for a share in the global vegetable oils market. — Reuters

JUN’16 JUL’16 AUG’16 SEP’16

1,533 1,586 1,702 1,715 1,132 1,384 1,812 1,451 1,776 1,771 1,464 1,547

MPOB FFB REF PRICE (MILL GATE PRICE)

NORTH 20.00% 623 19.00% 596 18.00% 569SOUTH 20.00% 632 19.00% 605 18.00% 578CENTRAL 20.00% 632 19.00% 605 18.00% 578EAST COAST 20.00% 624 19.00% 597 18.00% 570SABAH 22.00% 608 21.00% 583 20.00% 558SARAWAK 22.00% 617 21.00% 592 20.00% 567

REGION GRADE A GRADE B GRADE C OER (RM/TON) OER (RM/TON) OER (RM/TON)

(IN RM/TON) OCT’2016 NOV’2016 DEC’2016

CPO DELD 2,748 2,735 2,735PK EX-MILL 2,628 NO TRADE NO TRADECPKO DELD NO TRADE 5,589 5,589RBD P.OIL FOB NO TRADE NO TRADE NO TRADERBD P.OLEIN FOB NO TRADE NO TRADE NO TRADERBD P.STEARIN FOB NO TRADE NO TRADE NO TRADE

MPOB Palm oil physical

Oil prices reversed its losses yesterday on expectations of an Opec intervention next month to curb production, but a rising rig count in the US capped gains. Brent crude oil futures rose eight US cents to US$52.03 per barrel, after falling to as low as US$51.56 a barrel earlier. US crude futures were trading at US$50.27 per barrel, lost eight US cents from their last settlement, after hitting a session low of US$49.94 a barrel. Analysts said that the market is fundamentally supported by expectations that members of the Opec would take action to support prices at their meeting in Vienna on Nov 30. “It’s very hard for the Brent crude price to sell below the US$50 a barrel mark ahead of the Nov 30 meeting,” said Bjarne Schieldrop, chief commodities analyst at SEB. — Reuters

Commodities

to run a “high-pressure” economy in order to reverse damage from the global fi nancial crisis that depressed output. — Agencies

CPO & Open Interest

CPO RM/tonne Open Interest

Jan 6, 2008 Oct 17, 2016

10000

57500

105000

152500

200000

1200

1950

2700

3450

4200

(+111)2,769

CPO vs Soyoil

CPO RM/tonne Soyoil US$/Ibs

Jan 6, 2008 Oct 17, 2016

0.355(RM3,299/tonne)

2,769(+111) 0.0000

0.1825

0.3650

0.5475

0.7300

1100

2425

3750

5075

6400

The euro steadied yesterday ahead of a meeting of the European Central Bank (ECB) on expectations that offi cials are beginning to consider reining in the volume of extra emergency aid they give to the eurozone economy next year. Th e US dollar has had its best fortnight for more than a year against a basket of currencies — up 2.5% since the start of October — but the shift upwards in US bond yields behind that move looks to be running out of steam. On the European side of the equation, the ECB is still expected at some stage to announce an extension of its quantitative easing programme beyond next March. Th e euro, which fell below US$1.10 for the fi rst time in almost three months in the previous week, gained 0.1% in early London trade. — Reuters

Euro steadies below US$1.10 before ECB meet

Th e FBM KLCI futures contracts on Bursa Malaysia Derivatives ended lower yesterday, tracking the downtrend in the underlying cash market. Th e underlying benchmark FBM KLCI finished 5.26 points lower at 1,653.71. October 2016 and November 2016 fell nine points each to 1,655.5 respectively; December 2016 declined 8.5 points to 1,647; and March 2017 lost fi ve points to 1,640. Turnover contracted to 6,778 lots against 7,132 lots last Friday, while open interest gained to 41,844 contracts from 41,111 contracts previously. Most Southeast Asian stock markets fell yesterday, in line with broader Asia, as investors digested comments by US Federal Reserve (Fed) chair Janet Yellen. Yellen said last Friday the Fed may need

FBM KLCI futures lower in the underlying cash market

Crude Oil

US$/bbl

Apr 10, 2007 Oct 17, 2016

50.27(-0.08)

20.00

53.75

87.50

121.25

155.00

Gold

US$/troy oz

Aug 31, 2008 Oct 17, 2016

1,253.50(-0.50)

700

1020

1340

1660

1980

Long Rolls - KLCI futures

Index points

Jan 4, 2010 Oct 17, 2016

0.50(Unch)

-35.00

-21.75

-8.50

4.75

18.00

EURO

Euro/USD

Jan 2, 2006

1.02

1.16

1.30

1.44

1.0990(+0.0021)

Oct 17, 2016

1.58

FBMKLCI 1,653.71 -5.26 108.7M OCT 16 1,646.50 -9.00 6,455 40,237 -508NOV 16 1,646.50 -9.00 235 731 81DEC 16 1,647.00 -8.50 76 774 19MAR 17 1,640.00 -5.00 12 102 1TOTAL 6,778 41,844 -407

OCT 16 15 1.99 2.54 -0.55NOV 16 45 6.26 5.53 0.73ROLL’S FAIR 1.28


Markets Y O U R D A I L Y F I N A N C I A L M A R K E T S R O U N D U P

F U T U R E S . M O N E Y M A R K E T . C O M M O D I T I E S PA G E 3 1

I N S I D E R M O V E S . T R A D I N G T H E M E S . E V E N T S . F O R E X PA G E 3 0

G L O BA L M A R K E T S PA G E 2 9

M A I N M A R K E T . A C E M A R K E T L I ST I N G PA G E 2 5RESEARCH: TAI TS [[email protected]; SUGUMARAN [[email protected]]

CONTRACT SETTLEMENT CHANGE HIGH LOW

KUALA LUMPUR: The FBM KLCI trended downwards throughout the day on anticipation of limited excitement from Budget 2017. At the close of trading, the benchmark index settled at the day’s low of 1,653.71 points, down 5.26 points or 0.32%. Malacca Securities Sdn Bhd technical analyst Loui Low Ley Yee said traders expect Budget 2017 to be in “muted mode”. “Traders are having lacklustre interest to trade yesterday, as the upcoming Budget 2017 is expected to be the slower kind of budget announcement as compared to last year. [Th e] overall market for this week would likely to be stagnant and negatively biased ahead of Friday’s presentation by the prime minister”, he told theedgemarkets.com. Budget 2017 is scheduled to be tabled in parliament on Friday. Yesterday, losers outran gainers by 440 to 322, while total trading volume was 1.26 billion shares worth some RM1.52 billion. Gainers were led by British American Tobacco (M) Bhd, while the biggest loser was Aeon Credit Service (M) Bhd. AT Systematization Bhd was the most actively traded counter, with 83.27 million shares traded yesterday. Reuters reported that Asian shares fell yesterday, while the US dollar held fi rm near seven-month highs after comments from US Federal Reserve chair Janet Yellen that signalled the need for aggressive steps to rebuild the US economy boosted long-dated bond yields. — by Billy Toh

FBM KLCI down as traders see little excitement from Budget 2017

KLCI CHANGE CLOSE VOLUME POINTS (RM) (RM) ('000)CIMB GROUP 0.29 0.020 4.770 8736.5BRITISH AMERICAN TOBACCO 0.24 0.500 48.340 92.8SAPURA-KENCANA UNCH UNCH 1.630 6752.8TENAGA NASIONAL BERHAD -0.19 -0.020 14.400 6452.5RHB BANK -0.20 -0.030 4.550 666.1AMMB HOLDINGS -0.20 -0.040 4.050 1019.6IHH HEALTHCARE -0.27 -0.020 6.400 8160.5AXIATA GROUP -0.29 -0.020 5.090 3385.0YTL CORPORATION -0.36 -0.020 1.750 6534.3DIGI.COM -0.38 -0.030 4.970 4629.1MAXIS -0.49 -0.040 5.980 2014.3PETRONAS GAS -0.59 -0.180 21.600 1488.0GENTING MALAYSIA -0.59 -0.060 4.730 3133.5MISC -0.66 -0.090 7.500 1011.0GENTING -0.68 -0.110 7.820 1451.1SIME DARBY -1.20 -0.110 7.750 13337.9SUB-TOTAL -5.58 OTHERS 0.32 GRAND TOTAL -5.26

1,659.50 1,645.50 1,657.00 1,646.00 1,657.00 1,647.00

Market movers

DOW JONES 18,138.38 39.44S&P 500 2,132.98 0.43NASDAQ 100 4,808.49 5.38FTSE 100 7,013.55 35.81AUSTRALIA 5,388.68 -45.35CHINA 3,041.17 -22.64HONG KONG 23,037.54 -195.77INDIA 27,534.84 -138.76

INDONESIA 5,410.30 10.42JAPAN 16,900.12 43.75KOREA 2,027.61 4.95PHILIPPINES 7,358.21 -31.09SINGAPORE 2,817.07 1.83TAIWAN 9,176.22 11.05THAILAND 1,477.34 -0.27VIETNAM 680.95 -6.05

CLOSE CHANGE CLOSE CHANGE

World equity indices

TURNOVER CHANGE CHANGE PRICE PE DIVIDEND (‘000) (RM) (%) (RM) RATIO YIELD (%)

Daily top 20 active stocks

BAT 48.340 0.500PANAMY 36.580 0.480CHOOBEE 2.030 0.180GENP-WA 2.890 0.160APOLLO 6.200 0.150KHIND 2.700 0.120CARLSBG 14.720 0.100MYCRON 0.965 0.100TITIJYA 1.800 0.100UNISEM 2.640 0.090HSI-H69 1.040 0.085HSI-C62 1.130 0.080

AEONCR 14.660 -0.320NESTLE 78.100 -0.280BIPORT 6.380 -0.280HSI-C38 0.765 -0.185PETGAS 21.600 -0.180HEIM 17.080 -0.160AMWAY 8.240 -0.140IJMPLNT 3.370 -0.130UMW 5.780 -0.120KESM 8.800 -0.120GENTING 7.820 -0.110SIME 7.750 -0.110

UP CHANGE CLOSE (RM)

DOWN CHANGE CLOSE (RM)

Top gainers and losers (ranked by RM)

JETSON-WB 0.100 66.67SRIDGE-WA 0.055 57.14FBMKLCI-H75 0.035 40.00SRIDGE 0.125 38.89JAVA 0.080 23.08SANICHI-WD 0.030 20.00SIME-C5 0.030 20.00LUSTER-WA 0.030 20.00SEACERA-WA 0.095 18.75SUPERMX-C3 0.095 18.75MFLOUR-WB 0.170 17.24PUC-LA 0.035 16.67

SUNCON-CD 0.005 -75.00TOPGLOV-C2 0.010 -60.00JTIASA-CM 0.070 -53.33TM-C13 0.025 -50.00SKPETROC22 0.010 -50.00MAXIS-CT 0.025 -37.50HSI-C36 0.190 -34.48NETX-WB 0.010 -33.33TRIVE-WA 0.010 -33.33UEMS-C29 0.010 -33.33VS-CB 0.010 -33.33TOPGLOV-C1 0.010 -33.33

UP CHANGE CLOSE (%)

DOWN CHANGE CLOSE (%)

Top gainers and losers (ranked by percentage)

FBM KLCI & KLCI futures intraday

Daily FBM KLCI

FBM KLCI sensitivity*

FBM KLCI futures

JETSON-WB 0.100 66.67SRIDGE-WA 0.055 57.14FBMKLCI-H75 0.035 40.00SANICHI-WD 0.030 20.00SIME-C5 0.030 20.00LUSTER-WA 0.030 20.00SEACERA-WA 0.095 18.75SUPERMX-C3 0.095 18.75MFLOUR-WB 0.170 17.24PUC-LA 0.035 16.67EAH-WB 0.035 16.67VIZIONE-WB 0.035 16.67

SUNCON-CD 0.005 -75.00TOPGLOV-C2 0.010 -60.00JTIASA-CM 0.070 -53.33TM-C13 0.025 -50.00SKPETROC22 0.010 -50.00MAXIS-CT 0.025 -37.50HSI-C36 0.190 -34.48NETX-WB 0.010 -33.33TRIVE-WA 0.010 -33.33UEMS-C29 0.010 -33.33VS-CB 0.010 -33.33TOPGLOV-C1 0.010 -33.33

UP CHANGE CLOSE (%)

DOWN CHANGE CLOSE (%)

Top gainers and losers - warrants (ranked by percentage)

MELEWAR 19,391 10.38 0.055 0.585 0.590 0.525XINGHE 10,642 0.00 0.000 0.030 0.030 0.030APPASIA 7,546 6.38 0.015 0.250 0.255 0.240WCT 7,094 0.00 0.000 1.700 1.760 1.700WCT-CX 7,092 6.25 0.005 0.085 0.095 0.080PWORTH 6,682 10.00 0.010 0.110 0.110 0.090MYCRON 6,329 11.56 0.100 0.965 0.970 0.865SINOTOP 6,022 0.00 0.000 0.055 0.055 0.055KINSTEL 5,572 9.09 0.005 0.060 0.060 0.055CSCSTEL 4,962 3.50 0.070 2.070 2.080 2.010WCT-WE 4,830 2.56 0.005 0.200 0.205 0.195MRCB 4,638 3.03 0.040 1.360 1.360 1.320NEXGRAM-WB 4,307 0.00 0.000 0.020 0.020 0.020TITIJYA 4,178 5.88 0.100 1.800 1.810 1.700OCR-PA 3,970 -7.69 -0.005 0.060 0.065 0.060SRIDGE 3,968 38.89 0.035 0.125 0.130 0.095

STOCK VOLUME CHANGE CHANGE CLOSE HIGH LOW ('000) (%) (RM) (RM) (RM) (RM)

Table above is from Reuters Volume break 3x 5-day average volume, meaning the total number of shares traded for a particular counter on the previous trading day is more than triple the average volume for the last 5 trading days. The table captures the build-up of interest in these companies and is thus a gauge of market expectations for these counters.

UNUSUAL MARKET ACTIVITIES

* How stock price changes affected the index on the previous trading day

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King Bhumibol, world’s longest-reigning monarch, diesPA G E 2

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FRIDAY OCTOBER 14, 2016 ISSUE 2268/2016



1 1 H O M E B U S I N E S S

2 2 F E AT U R E

CPO price expected to continue uptrend amid lower output

SC sues Stone Master deputy MD for wrongful loss

Malaysia a conducive funding conduit for regional power sector — RAM

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Moving average - 20-dayKL Composite Index

Volume (’mil)

Jan 2, 2008

1,653.71(-5.26)

Oct 17, 2016

1,663.16

820.0

1102.5

1385.0

1667.5

1950.0

0

300

600

900

1645.0

1646.7

1648.4

1650.1

1651.8

1653.5

1655.2

1656.9

1658.6

1660.3

1662.0

17:1516:3015:3014:3012:4511:3010:309:308:45

Index point

KL Composite Index

KLCI futures

1,646.50 (-9.00)

1,653.71(-5.26)

OCT 16 1,646.50 -9.00NOV 16 1,646.50 -9.00DEC 16 1,647.00 -8.50

Light tomorrow with today.— Elizabeth Barrett Browning

AT 83,274.4 -0.005 -9.09 0.050 — 0.00HIBISCS 30,125.9 0.005 2.08 0.245 — 0.00MNC-OR 22,712.7 UNCH UNCH 0.015 — 0.00HSI-C36 19,553.4 -0.100 -34.48 0.190 — 0.00MELEWAR 19,390.7 0.055 10.38 0.585 14.72 0.00RGB 18,607.8 UNCH UNCH 0.190 10.86 2.63PTRANS 18,092.4 -0.005 -2.94 0.165 — 0.00TRIVE 17,063.3 0.005 5.56 0.095 — 0.00MYEG-CY 16,447.6 UNCH UNCH 0.130 — 0.00HEVEA 15,040.7 0.020 1.43 1.420 7.80 2.71AMEDIA 13,776.2 UNCH UNCH 0.240 — 0.00SIME 13,337.9 -0.110 -1.40 7.750 20.32 3.18VIVOCOM 12,560.7 -0.005 -2.56 0.190 10.00 0.00DRBHCOMC26 10,973.3 -0.005 -3.85 0.125 — 0.00FGV-C16 10,968.6 UNCH UNCH 0.210 — 0.00HIAPTEK 10,950.6 0.015 5.17 0.305 — 1.03DRBHCOMC23 10,747.4 UNCH UNCH 0.125 — 0.00XINGHE 10,642.2 UNCH UNCH 0.030 1.61 0.00AAX-CX 10,237.1 UNCH UNCH 0.050 — 0.00PERISAI 10,116.6 0.005 7.14 0.075 — 0.00

1,653.71 5.26 5,139.17 10.03 2,817.07 1.83 16,900.12 43.75 23,037.54 195.77 18,138.38 39.44 1,653.71 5.26 5,139.17 10.03 2,817.07 1.83 16,900.12 43.75 23,037.54 195.77 18,138.38 39.44 KLCI FBM ACE FTSTI NIKKEI HANG SENG DOW JONES 1,653.71 5.26 5,139.17 10.03 2,817.07 1.83 16,900.12 43.75 23,037.54 195.77 1,653.71 5.26 5,139.17 10.03 2,817.07 1.83 16,900.12 43.75 23,037.54 195.77

issue 2270/2016 financial daily - the edgetefd.theedgemarkets.com/2016/tep/20161018rey5qk.pdf ·...

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