TUESDAY FEBRUARY 6, 2018 ISSUE 2585/2018 …tefd.theedgemarkets.com/2018/SKY/20180206pefld8.pdf · · 2018-02-05FBM KLCI 1853.07 17.41 KLCI FUTURES 1848.00 14.00 STI 3482.93 46.89

FBM KLCI 1853.07 17.41 KLCI FUTURES 1848.00 14.00 STI 3482.93 46.89 RM/USD 3.8980 CPO RM2493.00 26.00 OIL US$67.61 0.97 GOLD US$1336.10 1.50

PM, 1MDB get stay on order to fi le defence 1 3 H O M E

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M A K E B E T T E RDECISIONS

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TUESDAY FEBRUARY 6, 2018 ISSUE 2585/2018

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




1 5 W O R L D B U S I N E S S

2 3 L I VE I T !

Sapura Energy bags RM905m worth of contracts

More IPOs expected in 2018, says Bursa Malaysia

New ruling on directors’ remuneration promotes better governance — KPMG

‘Perodua market share breaches 40%’

‘Broadcom plans to boost Qualcomm bid’

Th ings you never knew about cruises

Inland Revenue Board to cut down on number of raids in 2018 PA G E 2

However, local fund managers opine that the pullback would be short-lived. Billy Toh has the story on Page 3.HHowever lllocalll ffffunddd managers opiiine tthhatt tthhhhe pullllllbbbackkkk

Asian markets CATCH THE COLD

AFP

IRB CEO Datuk Seri Sabin Samitah

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www.theedgemarkets.com

FBM KLCI 1853.07 17.41 KLCI FUTURES 1848.00 14.00 STI 3482.93 46.89 RM/USD 3.8980 CPO RM2493.00 26.00 OIL US$67.61 0.97 GOLD US$1336.10 1.50

PM, 1MDB get stay on order to fi le defence 1 3 H O M E

FINANCIALFINANCIALDAILYDAILY

w w w . t h e e d g e m a r k e t s . c o m

M A K E B E T T E RDECISIONS

PP 9974/08/2013 (032820)PENINSULAR MALAYSIA RM1.50

TUESDAY FEBRUARY 6, 2018 ISSUE 2585/2018





1 5 W O R L D B U S I N E S S

2 3 L I VE I T !


More IPOs expected in 2018, says Bursa Malaysia

New ruling on directors’ remuneration promotes better governance — KPMG

‘Perodua market share breaches 40%’

‘Broadcom plans to boost Qualcomm bid’

Th ings you never knew about cruises

Inland Revenue Board to cut down on number of raids in 2018 PA G E 2

However, local fund managers opine that the pullback would be short-lived. Billy Toh has the story on Page 3.HHowever lllocalll ffffunddd managers opiiine tthhatt tthhhhe pullllllbbbackkkk

Asian markets CATCH THE COLD

AFP

IRB CEO Datuk Seri Sabin Samitah


2 TUESDAY FEBRUARY 6, 2018 • THEEDGE FINANCIAL DAILY

For breaking news updates go towww.theedgemarkets.com

O N E D G E T V


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

BY S A M U E L P OT T E R

‘Handling of overseas ballots by Pos Malaysia ensures transparency’PUTRAJAYA: The use of Pos Malaysia Bhd to deliver postal ballot papers to overseas vot-ers in the 14th general election (GE14) takes into account the aspect of transparency as it is a neutral party. Election Com-mission (EC) chairman Tan Sri Mohd Hashim Abdullah said the measure was to ensure effi cien-cy in the delivery of postal ballot papers to these voters. “In this regard, the EC has been given the assurance by Pos Malaysia on aspects of security and con-fi dentiality with all handling of shipment classifi ed as registered post procedures using the Pos Laju network,” he said in a state-ment yesterday. — Bernama

Indonesian capitalbraces for fl oodsJAKARTA: Torrential rain has caused fl oods and landslides in satellite cities around the Indo-nesian capital, with authorities warning that fl oods could hit Jakarta later yesterday after be-ing forced to open sluice gates on a major upstream reservoir. Dramatic TV footage showed fast-running rivers of muddy water gushing down roads, bringing down trees and even some villas in the hilly areas around Jakarta. Th e national disaster management agen-cy said at least four landslides had left an unknown number of people missing. — Reuters

Anti-traffi cking council to work with airlinesKUALA LUMPUR: Th e Council for Anti-Traffi cking in Persons and Anti-Smuggling of Migrants will expand its cooperation with international airlines in the fi ght against human traffi cking in the country. Deputy Home Minis-ter Datuk Nur Jazlan Mohamed said this was needed as human traffi cking syndicates found it simpler to operate by air rather than via land or sea. “So far, we have worked with two local air-lines, namely Malaysia Airlines and AirAsia, and are expanding the cooperation with Malindo Air.” — Bernama

Former auditor-general Ishak Tadin diesKUALA LUMPUR: Former audi-tor-general Tan Sri Ishak Tadin passed away at his home in Jalan Chan Chin Mooi, Tasik Titiwang-sa, here yesterday. He was 86. His brother-in-law, Zulkhairi Abdul Samad, 60, said Ishak breathed his last at 2.30pm due to old age. Ishak leaves behind wife Puan Sri Sa’adah Abd Samad, a son and two daughters. — Bernama

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KUALA LUMPUR: After stepping up efforts to crack down on tax evaders last year, the Inland Rev-enue Board (IRB) will try to cause minimal disruption to businesses while carrying out its duty this year.

Th is means fewer fi eld audits or raids, according to the tax au-thority’s chief executive offi cer (CEO) Datuk Seri Sabin Samitah.

But this does not mean the IRB is slowing down its eff orts to increase tax compliance. Rather, it means the requirement for fi eld audits will be less as the IRB’s data matching processes have improved, said Sa-bin. Hence, more desk audits will be undertaken instead.

“Th is year, we are going to reduce the number of raids because we don’t want to disrupt the [business-es of] taxpayers. Our data matching now [has improved], so we have lots of information without going to the house or business premises. Our profi ling is now much better than [in] the previous years.

“Maybe certain cases involv-ing the underground economy [would require tax raids],” he told reporters at a news conference yesterday in conjunction with the IRB’s high tea with the media.

Examples of “underground economy” activities include ille-gal gambling, illegal moneylend-ing and vice activities.

Sabin also dismissed the no-tion that the fewer tax audit visits the IRB is planning for 2018 is due

IRB to cut down on number of raidsTh e focus will instead be on desk audits in 2018, says CEO

to complaints from businesses last year. Further, he said while visits to premises by the IRB will be fewer, the number of desk audits will increase.

“We are not reducing our tax compliance activities this year. In fact, the number of letters we have issued so far to taxpayers who are to be audited was higher in Janu-ary 2018 compared with January 2017,” he said.

In January this year, the IRB is-sued 155,152 audit letters, up 2.1% from the 151,955 letters it issued in January 2017.

Th e IRB launched a number of operations last year to ensure tax compliance by individuals and businesses, such as Ops Patuh, Ops Dakwa, Ops Saji and Ops Mega. As a result of that, it slapped tax demands on many listed corpora-tions such as MK Land Holdings Bhd, Magnum Bhd, MMC Corp Bhd and Aeon Credit Service (M) Bhd, to name a few.

Priority on leakages from transfer pricingTh is year, Sabin said the IRB’s focus will be on specialised industries such as banking, insurance and fi nance.

“Leakages from transfer pricing by certain corporations will be the priority for tax compliance this year.

“Our focus will also be on compa-nies that are involved in aggressive tax-planning activities, in particular those that transfer their profi ts to low-tax regimes just to avoid paying the taxes due in Malaysia,” he said.

During the launch of Ops Mega

last November, IRB deputy CEO (compliance) Abdul Manap Dim shared with the press that Ops Mega would include the audit of 15 banks, which are mostly foreign banks that have off shore transac-tions — for example, those with transactions in Labuan.

When asked for updates on this, Sabin said: “Some of the banks have come voluntarily to make an off er for settlement, but this pertains to their transactions with their off shore companies in La-buan. We are purely looking at transfer pricing issues here, [so] we are not encroaching on the central bank’s duties and responsibilities.”

Th e tax rate in Labuan is much lower, at 3% of net profi t as per the audited accounts of the company or at a fi xed rate of RM20,000, on the choice of the company, as op-posed to the corporate tax rates of between 18% and 24%, in accord-ance with the Income Tax Act 1967.

For 2018, the IRB is targeting a tax collection of RM134.7 billion, which is 6% more than its 2017 target of RM127 billion. As for the total amount of tax collected in 2017, Sabin said it was up 8.15% compared with 2016.

“I can’t let you know the fi gure because the finance [ministry] has not made the announcement yet,” he said.

It was reported that the IRB col-lected RM114.015 billion in taxes in 2016. Going by that, an 8.15% in-crease in tax collection in 2017 would work out to be RM123.307 billion.

NEW YORK: Global stocks extended the biggest sell-off since 2016, with US shares continuing last week’s decline and European and Asian equities slumping. Treasuries and the dollar stabilised while oil fell and gold rose.

The S&P 500 Index and Dow Jones Industrial Average opened lower yesterday, as the Stoxx Eu-rope 600 Index retreated for a sixth day, its longest losing streak since

Stock sell-off deepens; dollar steadyNovember, following similar moves across Asia as both regions took their cue from the US rout last Fri-day. Yields on core government bonds in Europe fell, while those of 10-year Treasuries were little changed. Th e pound slumped af-ter data and the yen gained with other so-called safe-haven assets.

Equity investors are looking for confirmation that recent declines represent the healthy correction many had expected after the stellar start to the year, but moves yesterday suggest-

ed the sell-off was not done yet. Th e fresh downward move was sparked by US wage data last Friday that pointed to quickening infl ation, which would lead to higher rates and therefore ris-ing borrowing costs for companies.

Elsewhere, oil extended declines after US explorers raised the number of rigs drilling for crude to the most since August. Bitcoin slid below US$7,500 (RM29,250). — Bloomberg

NEW DELHI: India is planning steps to ensure cryptocurrencies are illegal within its payments system, while at the same time appointing a regulator to over-see unregulated exchanges that trade in “crypto assets”, a finance

ministry official said yesterday.A panel set by the government

to look into issues relating to cryp-tocurrencies is expected to submit its report in the current fiscal year, ending on March 31, SC Garg, economic affairs secretary, told

CNBC TV18 news channel.“The government will take

steps to make it illegal as a pay-ment system,” he said at a post-budget event telecast by the news channel, adding the trading of “crypto assets” at the unregulated

exchanges would be regulated.“We hope now within this fi-

nancial year the committee will finalise its recommendations ... certainly there will be a regulator,” Garg, who is heading the panel, said. — Reuters

India to bar cryptocurrencies from its payments system — fi nance ministry offi cial

See related story on Page 14

H O M E B U S I N E S S 3TUESDAY FEBRUARY 6, 2018 • THEED G E FINANCIAL DAILY

Asian markets catch the coldHowever, local fund managers opine that the pullback would be short-lived

Anzo says developer is reviewing Paragon@KL Northgate project

BY B I L LY TO H

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

BY S YA H I R A H S Y E D J A A FA R

KUALA LUMPUR: Most Asian mar-kets succumbed to strong selling pressure yesterday, except for China, as US markets sneezed.

Growing concerns that the long overdue correction in the US equity markets might have fi nally arrived after the sharp fall on Wall Street last Friday spooked investors in Asia to take some money off the table. Th e heavy selldown in the US was mainly caused by renewed expectations of a more aggressive interest rate hike there as the US wage growth ac-celerated at its quickest pace since mid-2009, which is expected to fuel infl ation.

Th e selling spread to the Euro-pean markets, while the Dow Jones Industrial Average futures slid 300 points as at press time.

Nonetheless, local fund managers and analysts are optimistic that the pullback on Bursa Malaysia would be temporary as the selling was well absorbed and the global economic outlook remains positive.

Tokyo was the worst-hit market. Th e Nikkei 225 plunged 592.45 points or 2.55% to 22,682.08 points — the biggest losses since the US election. Hong Kong’s Hang Seng Index shed 356.56 points or 1.09% to 32,245.22 points, while South Korea’s Kospi fell by 33.64 points or 1.33% to 2,491.75 points.

On the local front, the FBM KLCI fell by 17.41 points or 0.93% to close at 1,853.07 points after it hit an in-

Major indices in Asia (as of Feb 5, 2018)

INDEX VALUE NET CHANGE % CHANGE LOW PERIOD

Hong Kong’s Hang Seng Index 32,245.22 -356.56 -1.09 2-week lowJapan’s Nikkei 225 22,682.08 -592.45 -2.55 6-week lowTaiwan’s TAIEX 10,946.25 -179.98 -1.62 3-week lowThe Philippines’ SE 8,616.00 -194.75 -2.21 5-week lowJakarta Composite Index 6,589.67 -39.15 -0.59 3-day lowSingapore’s Straits Times Index 3,482.93 -46.89 -1.33 4-week lowSouth Korea’s Kospi 2,491.75 -33.64 -1.33 3-week lowMalaysia’s FBM KLCI 1,853.07 -17.41 -0.93 1-week lowSE Thai 1,810.32 -17.03 -0.93 3-week lowShenzhen Composite 1,806.30 -15.23 -0.84 6-month lowHo Chi Minh Stock Exchange 1,048.71 -56.33 -5.10 2-week lowSource: Bloomberg

four-year high of 2.84%. Given how strong markets have been recently, the pullback is not surprising.

“Also, given the pace of the US Treasuries’ movement, the key lev-el to watch would be the 3% level, beyond which would wreak havoc with asset prices,” Gan said.

Kenanga Investment Bank Bhd head of research Chan Ken Yew con-curred that the pullback seen on Bursa is a short-term correction, especially given that the FBM KLCI has managed to stay above the 1,840 level.

“If the index could hold above the 1,840 level, we should see a short-term correction. Earlier in the morn-ing, it tested the 1,840 level but the market seemed to hold well above that level,” Chan said.

UOB AM’s Lim agreed that the correction should be short-lived and she suspected that it is likely that buy-ing support will step in fairly quickly.

“The fundamentals are strong enough and there are many inves-tors who have not shifted from fi xed income to equities yet in this cycle.

Lim’s view is that the global ex-pansion has at least another year left in it and probably more than that.

“Global investments tend to con-tinue to perform until there are clear-er signs that the global expansion is nearing an end. We thus recommend using any near-term correction as an opportunity to make sure you are overweighted in equities as may best suit one’s individual portfolio during a bull market,” Lim said.

KUALA LUMPUR: Sapura Energy Bhd, formerly known as SapuraKen-cana Petroleum Bhd, said it has se-cured fi ve contracts with a combined value of about RM905 million, via its direct and indirect wholly-owned subsidiaries.

Via Sapura Fabrication Sdn Bhd, it secured three provision of engi-neering, procurement, construc-tion and commissioning (EPCC) contracts, its Bursa Malaysia fi ling yesterday showed.

Two of them were from Petronas Carigali Sdn Bhd. Th e third, inclusive of installation, was from Hess Explo-ration and Production Malaysia BV for the FFD Phase 2 facilities in the North Malay Basin.

One of the two Petronas Carigali jobs is for the Kinarut ERB West com-pressor upgrading project, which spans three years until the fourth quarter of 2020. Th e other Petronas Carigali contract is for minor engi-neering, procurement, construction and commissioning (EPCC) works for the Bokor Betty brownfi eld and rejuvenation for four and a half years,


until the second quarter of 2022. Th e job scope comprises Bokor rejuvena-tion and host tie-in works at existing platforms, and the redevelopment of platform facilities to support Bokor enhanced oil recovery (EOR) and redevelopment of the two fi elds.

As for the Hess job, Sapura Ener-gy said the job scope comprises the EPCC of a conventional three-legged terminal wellhead platform and a minimal wellhead platform, with associated pipelines. “The scope for off shore transportation and in-stallation work associated with the

above contract is optional. Hess will notify [the] contractor in writing if this option is exercised,” it added.

Via Sapura Offshore Sdn Bhd, it has secured two more contracts. One of them involves transportation and installation works for the Bokor central processing platform project for Malaysia Marine and Heavy En-gineering Sdn Bhd, which is expect-ed to be completed by March 2020.

Th e other contract is for the pro-vision of off shore/onshore pipeline and terminal works for the Fifth Oil Berth project by Mumbai Port Trust, which is to be completed by May 2019.

All the new contracts announced, said Sapura Energy, should contrib-ute positively towards its earnings for the fi nancial year ended Jan 31, 2018, and subsequent fi nancial pe-riods thereafter, in accordance with the duration of the contracts and extensions, if any.

Sapura Energy shares fell three sen or 4.08% to settle at 70.5 sen yesterday, giving it a market capi-talisation of RM4.22 billion. Over the past 12 months, the stock has declined 59.29%.

All the new contracts announced should

contribute positively towards its earnings for the fi nancial year ended Jan 31, 2018,

and subsequent fi nancial periods

thereafter.

traday low of 1,842.06 points. It was the sharpest one-day fall since No-vember 2016 when it fell by more than 100 basis points on a single trading day.

Th e selling was across the board. 966 decliners outnumbered 167 gain-ers, while 290 counters traded un-changed.

However, China’s markets bucked the trend. Th e Shanghai Composite Index added 25.42 points, or 0.73%, to close at 3,487.5 points, while the CSI 300 Index was up 2.91 points to 4,274.15 points.

“We think the biggest concern for global equities is that they had run too far, too fast in the past six months,” said UOB Asset Manage-ment (M) Bhd (UOB AM) chief ex-ecutive offi cer Lim Suet Ling.

“Th e US equity market has cor-rected 4% from its highs, but this is not particularly large in the course of a bull market. In the bull markets from 2003 to 2007, the S&P 500 had seven corrections of 5% or more, but within a few months, the markets had surged to new highs.

“In Asia, where the bull market from 2003 to 2007 was even stronger, the equity market had three correc-tions over 17% in the course of that strong bull market,” Lim told The Edge Financial Daily via an email exchange.

She acknowledged that if the vol-atility in the stock market persists, a US-led correction could aff ect glob-al markets, including Asia, as well.

As of the time of writing, the Chicago Board Options Exchange

(CBOE) Volatility Index was at 18.07 points, its highest level since Novem-ber 2016. It was also an increase of 4.61 points from 13.47 two days ago. Th e Volatility Index is better known as Wall Street’s “Fear Index”.

“Historically, corrections have hit Asia more than developed markets. Within Asia, Malaysia tends to be more stable during temporary sell-off s, but nevertheless, still suff ers some downsides,” Lim noted.

Th e director of equity strategies and advisory at Affi n Hwang Asset Management, Gan Eng Peng, antic-ipates that the correction on Bursa would be short-lived.

“Stronger-than-expected growth is making the US market reprice it-self. Th is is driven by [a] rapid rise in US Treasuries, which have hit a

KUALA LUMPUR: Anzo Hold-ings Bhd, which has been an-ticipating to secure a potential RM1.21 billion contract to build the Paragon@KL Northgate shopping centre in Selayang with a partner, is not going to see the project take off anytime soon.

Th e development is now be-ing reviewed by its developer KL Northgate Sdn Bhd amid the soft property market, according to Anzo’s Bursa Malaysia fi ling yesterday.

Anzo said its wholly-owned unit Anzo Construction Sdn Bhd (ACSB) had been informed by KL Northgate that the latter had decided to review the whole de-velopment concept and develop-ment components in view of the “current real estate glut and the imbalance in supply-demand conditions”.

Th e review could take six to nine months, said Anzo.

Th e planned project had an estimated gross development value of RM3.6 billion and KL Northgate intends to award the construction job to ACSB, to-

gether with MCC Overseas (M) Sdn Bhd, according to a letter of intent the developer issued last April.

“As the progress of the pro-ject, including the decision to revise the whole development concept and development com-ponents, solely depends on the direction from KL Northgate, ACSB as the tendering party will only be able to submit the tender documents upon KL Northgate fi nalising the contract document and pricing of the project, esti-mated by October 2018,” Anzo said.

Prior to this, on July 13, Anzo announced that ACSB had been informed by KL Northgate that the contract document was ex-pected to be finalised by De-cember. Subsequently, ACSB followed up with KL Northgate numerous times for the status of the contract, Anzo’s fi ling yes-terday added.

Anzo shares closed up 0.5 sen or 6.25% at 8.5 sen yesterday, bringing it a market capitalisa-tion of RM74.87 million. In the past 12 months, the stock has retreated some 62%.

4 H O M E B U S I N E S S TUESDAY FEBRUARY 6, 2018 • THEEDGE FINANCIAL DAILY

SINGAPORE: Singapore-listed Great Eastern Holdings Ltd is said to be in exclusive talks with Malay-sia’s state-owned pension fund to sell it a minority stake in its Malay-sian insurance unit.

Th e deal between Great East-ern Life Assurance (Malaysia) Bhd and the Employees Provident Fund (EPF) could fetch as much as US$1 billion (RM3.9 billion), though ne-gotiations are in early stages and there is no certainty a transaction will materialise, according to Dow Jones Newswires.

Great Eastern Life Assurance (Malaysia) had over three million policies in force and a network of 17,000 agents in Malaysia at the

end of 2016. As of last September, the fund managed RM771.2 billion worth of investment assets.

Even if no deal is reached, Great Eastern could list its insurance unit through an initial public off ering in Malaysia, said Dow Jones, and Malaysia’s largest pension fund can still opt to partake in the potential listing, according to people Dow Jones spoke to.

The talks are to meet a June deadline set by the Malaysian central bank, mandating that in-surers operating in the country are at least partially owned by lo-cals. Th e fi rms have to bring down their stakes in their local insurance units by at least 30%, according to Bank Negara Malaysia. — Th e Edge Singapore

KUALA LUMPUR: Integrated en-gineering services provider Serba Dinamik Holdings Bhd is acquir-ing a 40% stake in Maju Renewable Energy Sdn Bhd, Maju RE (Talang) Sdn Bhd and Maju RE (Temeng-gor) Sdn Bhd from Maju Holdings Sdn Bhd — which is controlled by businessman Tan Sri Abu Sa-hid Mohamed — for a combined RM24.85 million.

Th e stake buy will allow Serba to participate in the development of hydropower plants. Th e whol-ly-owned subsidiaries of the tar-get companies have been granted approval by the Sustainable Energy

Development Authority Malaysia to develop power plants within the Temenggor and Belum Forest Reserves in Perak, with a total of 60MW generating capacity. Th ey have also entered into renewable energy (RE) power purchase agree-ments with Tenaga Nasional Bhd to supply RE generated by the power plants to the national power grid.

In a filing with Bursa Malay-sia yesterday, Serba said its whol-ly-owned subsidiary Serba Dina-mik Group Bhd has entered into a memorandum of agreement (MoA) with Maju, which currently owns 70% of the shares in each of the tar-get companies, for the stake buy. Th e remaining 30% stakes in the

three target companies are held by Perak Hydro Renewable Energy Corp Sdn Bhd.

Serba said it will fund the pur-chase entirely in cash through the proceeds from its initial public of-fering (IPO), which was complet-ed on Feb 8 last year. Some RM95 million from the IPO proceeds has been identified for business ex-pansion through investment and acquisition.

Th e MoA will create an oppor-tunity for Serba to be awarded with the engineering, procurement, construction and commissioning contract for the power plants on a turnkey basis, which is valued at approximately RM560 million.

KUALA LUMPUR: Kuantan Flour Mills Bhd’s (KFM) external auditors McMillan Woods Th omas has issued a qualifi ed opinion on the compa-ny’s audited fi nancial statements for

the year ended Sept 30, 2017 (FY17), amid uncertainty over its proposed regularisation plan.

“Th e company had submitted its proposed regularisation plan (PRP) to Bursa Securities for approval on Sept 29, 2017.

“Till to date the PRP has yet to be approved by Bursa and this sit-uation indicates the existence of a material uncertainty that may cast signifi cant doubt on the group and the company’s ability to continue as a going concern and, therefore,

the group and the company may be unable to realise their assets and dis-charge their liabilities in the normal course of business,” said the auditors in a statement yesterday.

Th e auditors noted that the group incurred a net loss of RM12.26 mil-

lion in FY17, with net liabilities of RM28.98 million and negative share-holders’ funds of RM23.07 million.

KFM shares fell 0.5 sen or 3.45% to close at 14 sen yesterday, giving it a market capitalisation of RM9.55 million.

KUALA LUMPUR: Bursa Malaysia Bhd can look forward to a "slightly higher" number of initial public off erings (IPOs) in 2018 compared with the 13 seen in 2017, said its chief executive offi cer Datuk Seri Tajuddin Atan.

“The IPO pipeline is doing quite well and we are going to see some big ones coming,” Tajuddin said at a briefi ng on Bursa Malay-sia’s fi nancial results yesterday.

Th e stock exchange operator recorded a surge of 71.1% in its funds raised from new listings and the secondary market to RM21.9 billion in 2017, while the number of new listings rose from 11 to 13.

Bursa Malaysia posted a 10.2% increase in net profi t to RM55.27 million for the fourth quarter end-ed Dec 31, 2017 (4QFY17), from RM50.17 million a year earlier, due to better performance of the securities market.

Supported by a 27.7% leap

in average daily value and a 5% increase in volatility, quarterly earnings per share rose to 10.3 sen from 9.4 sen.

This made 2017 one of the strongest years for the local eq-uity market, where it saw a 9.4% growth in the FBM KLCI and 14% rise year-on-year in total market capitalisation, Tajuddin said.

Meanwhile, revenue for the 4QFY17 grew 14.1% to RM141.2 million, versus RM123.74 million a year ago.

Th e FY17 net profi t climbed 15.2% to RM223.04 million from RM193.62 million in FY16, on the back of revenue that rose 9.9% to RM556.83 million from RM506.78 million a year ago.

The FY17 net profit was the highest since FY07 while operat-ing revenue was the highest since its listing in 2005.

Bursa Malaysia proposed a sec-ond interim dividend of 18.5 sen, bringing its full-year dividend to 53.5 sen (including a special divi-

dend) and representing a dividend payout of 93%. Comparatively, it paid a dividend of 34 sen in FY16.

Tajuddin said the group has always exceeded its 75% dividend payout policy although he stressed that the group must remain “as prudent as possible”.

In a note yesterday, CIMB Re-search said Bursa Malaysia’s net profi t was 3% higher than its fore-cast due to stronger-than-expect-ed equity trading income.

CIMB Research analyst Win-son Ng raised his target price on Bursa Malaysia to RM10.40 from RM10 previously as it increased its assumed market velocity in view of the strong equity market trading value in January 2018.

However, Ng maintained his “hold” recommendation on the stock due to concerns over the contraction in derivative income. (see sidebar)

Tajuddin said the bourse was still actively courting retail inves-tors in order to increase liquidity

More IPOs expected in 2018, says Bursa MalaysiaExchange operator posts 10.2% rise in 4Q net profi t to RM55.27m

Great Eastern in talks with EPFSerba Dinamik to buy 40% stake inMaju Holdings’ hydropower fi rms for RM25m

Kuantan Flour Mills’ auditors issue qualifi ed opinion

BY S A M A N T H A H O

KUALA LUMPUR: Bursa Malay-sia Bhd says it will be revamping its crude palm oil futures (FCPO) to make them more attractive to investors.

“We aim to introduce new products and will make the nec-essary announcements as we go along,” chief executive officer (CEO) Datuk Seri Tajuddin Atan said at a media briefi ng yesterday.

In the meantime, the bourse is focused on improving liquidity of its derivatives market fi rst by understanding the players and reaching out to a new set of in-vestors, he said.

“We are still in the process of getting approvals, decoupling memberships and increasing selling agents,” he said.

Bursa Malaysia Derivatives Bhd CEO Jamaluddin Nor Mohamad said the revamp will include the tracking of crude palm oil origins and tracing Malaysian Sustaina-ble Palm Oil certifi cation, which could be rolled out as soon as the fi rst quarter of 2018.

He said that new products are

likely to see variations of palm oil and other fi nancial contracts, al-though interest rate and bond fu-tures have not been heavily traded.

“Given the stable interest rate environment we have in this coun-try, the demand and usage of these products are not forthcoming,” said Jamaluddin.

For the year ended Dec 31, 2017 (FY17), Bursa Malaysia’s deriva-tives market saw a decline in the growth of average daily contracts (ADC) and volatility.

Total ADC for FY17 fell 0.3% to 57,677 while the volatility of FCPO and FBM KLCI futures (FKLI) de-clined 3% each.

“Volatility in commodity prices and the underlying equity market will continue to aff ect hedging and trading activities of the FCPO and FKLI contracts,” Tajuddin said, add-ing that it was therefore important to focus on increasing liquidity.

Th e derivatives market was Bur-sa Malaysia’s second-largest con-tributor to operating revenue in FY17 at 15.7% or RM80.6 million. Th is marked a decline in both val-ue and percentage from RM88.7 million and 18.8% in FY16.

Bursa’s FCPO to be revamped

BY S A M A N T H A H O

EDITOR’S PICKS FROMtheedgemarkets.com

and volatility in the stock market.In 2017, retail participation on

Bursa Malaysia grew 41% year-on-year. Th e stock market also saw the fi rst total net foreign infl ow of funds since 2013 at RM10.8 billion.

Tajuddin said Bursa Malaysia’s capital expenditure planned for 2018 includes improving surveil-

lance and technological systems.Apart from that, although list-

ing fees remain competitive and would remain at their current level for the time being, “there is room for improvement”, he said.

Th e bourse operator also has no plans to implement the dual class share structure adopted by the Singapore Exchange Ltd recently.

BY P C L E E

BY S A N G E E T H A A M A R T H A L I N G A M


H O M E B U S I N E S S 5TUESDAY FEBRUARY 6, 2018 • THEED G E FINANCIAL DAILY

New ruling promotes better governance — KPMGBursa’s requirement for disclosure of directors’ remuneration ‘a step forward’

BY E M I R Z A I N U L & E R I K A B E N J A M I N

KUALA LUMPUR: Th e new ruling requiring the disclosure of directors’ remuneration is a step forward to-wards a higher level of transparency and better governance in corporate Malaysia, said KPMG Malaysia.

“As a whole, the slew of reform measures introduced in recent years aims to enhance transparency,” KPMG Malaysia head of governance and sustainability Kasturi Nathan said at a media briefi ng yesterday. “(Th ey) will certainly help to reduce information asymmetry in the mar-ket, and encourage a culture whereby remuneration is anchored to perfor-mance and [will] commensurate with the contribution stemming from skill sets and industry knowledge.”

On Nov 29 last year, Bursa Malay-sia (Bursa) announced various en-hancements to the Main Market and ACE Market listing requirements. Th e amendments, which came into force on Jan 2, are pursuant to the imple-mentation of the Companies Act 2016 and the launch of the Malaysian Code on Corporate Governance last year.

One of the amendments requires public listed companies to disclose the remuneration of directors on a named basis and by the exact amount for the listed issuer level and group level.

KPMG noted in a report released yesterday that prior to the introduc-tion of the amendment, only 21% of the listed issuers assessed had vol-untarily disclosed this information.

“Th ere is a notable diff erence

between companies who voluntar-ily disclose these details and those who only do the bare minimum in disclosure. Th ere is a higher lev-el of sensitivity for transparency,” said the auditing fi rm’s managing partner Datuk Johan Idris.

Th e report, which was prepared prior to the implementation of the amendment, revealed that the aver-age remuneration for a non-execu-tive director (NED) was RM162,000 per annum for the top 300 largest listed issuers on Bursa by market capitalisation.

Th is represents an increase of 33% compared with RM122,000 in KPMG Malaysia’s 2013 report. On average, within the span of eight years from 2009 to 2017, the remuneration of NEDs had increased at a compounded annual growth rate of 8% per annum.

Th e fi rm’s head of risk consulting,

Mohd Khaidzir Shahari, said the in-crease in the NED’s remuneration is a good sign for corporate Malaysia.

“Th is means that companies are now willing to pay more for independ-ent directors who could contribute their skills and experience to the com-pany. It would be more worrying for us if the rate decreased over the years as it shows that there’s something wrong with the company,” he said.

The report also revealed that government-linked companies and fi nance sector companies have a higher rate of NED remuneration, compared with other companies.

Th is, it said, could be because of the sectors’ highly regulated operating environment and the public interest imperative inherent in the companies, thus requiring more experienced and skilled independent directors.

However, Mohd Khaidzir noted

that there was no direct correlation between NEDs’ remuneration and the companies’ profi tability.

“For NEDs, the reward should not be based on the performance. (Otherwise) the decision-making [process] will no longer be inde-pendent; they might favour the decisions made by the executives, when they are supposed to be the check and balance,” he added.

On average, corporate Malaysia has allocated 0.16% of its profi t be-fore tax for NEDs’ remuneration. In comparison, the report noted, the Indian government has intro-duced a cap on the remuneration of directors and executive offi cers of a public company to 11% of its net profi t for any fi nancial year.

Kasturi highlighted this as a stark contrast of how NEDs are remuner-ated in Malaysia. She opined that there is a shrinking pool of NEDs in Malaysia with specialised skills, and thus, a heightened need for boards of directors to source for the right NED.

“[Th e] question is, how equipped are these NEDs with the right knowledge, the right skill sets and the right expertise? Th at comes with time commitments in which they have to explore to expand across boardrooms,” she said.

“Th is is an enormous task that must commensurate with the right level of remuneration that allows them to expand their hours. It is that balance that boardrooms must strike between getting quality direc-tors and how much to pay to source the right talents,” added Kasturi.

BY W O N G E E L I N

KUALA LUMPUR: Shareholders in Malaysia Airports Holdings Bhd (MAHB) could receive a windfall following the sale of its 11% stake in GMR Hyderabad International Air-port Ltd (GHIAL) for US$76.05 mil-lion (RM296.6 million), said analysts.

TA Securities analyst Tan Kam Meng expects the airport operator to return excess cash to sharehold-ers by way of a special dividend distribution.

“According to (MAHB’s) an-nouncement [last Friday], the dis-posal does not require sharehold-ers’ approval, and the proceeds are intended for general corporate pur-poses and expenses in relation to the proposed disposal. We believe the general corporate purposes would mean any possible mergers and ac-quisitions in the future or special dividends to shareholders,” he said in a note to clients yesterday.

MAHB is selling its entire stake in GHIAL to India’s GMR Airports Ltd.

MAHB shareholders may get windfall after disposalGHIAL currently manages the Rajiv Gandhi International Airport in Hy-derabad, India for a concession period until 2068. Th e gain arising from the exercise is estimated to be RM255.14 million or 15.4 sen per share.

Tan said factoring in the dispos-al of GHIAL into his forecast, he has raised the fi nancial year 2018 (FY18) dividend to 18 sen per share from 10 sen previously as he be-lieves half of the gains would likely be paid out as dividend based on its dividend policy of 50%.

He said that it is not a surprise to see MAHB unlocking its invest-ment in India as the company had earlier disposed of its 10% stake in the Delhi International Airport to GMR Airports in 2015. In fact, GHI-AL would be the last investment the company has in India, he added.

Tan is maintaining a “sell” call on MAHB with a RM8.64 target price (TP), as he is of the view that the mar-ket has fully priced in those positive catalysts including earnings recovery, concession extension, possible sale

of minority stake in Istanbul Sabiha Gokcen International Airport in Tur-key and a special dividend.

AllianceDBS Research analyst Marvin Khor said while MAHB did not specify plans for the utilisation of disposal proceeds in its announce-ment, he estimated that the full payout via dividends of the RM295.34 million cash consideration would amount to an additional 17.8 sen per share, which would more than double his projected FY18 dividend yield to 3.5%.

“As we project MAHB’s near-term capital expenditure (capex) plans to be well-funded by its or-ganic cash fl ow, we believe payout of a signifi cant portion of the pro-ceeds is well within the means of the group,” he said in a note.

Khor is maintaining a “buy” rec-ommendation on MAHB, raising his TP to RM10.15 from RM10. “We continue to be positive on MAHB’s earnings growth prospects, bolstered by the potential disposal of a partial stake in its Turkish operations.”

For Maybank IB Research analyst

Mohshin Aziz, however, he doesn’t expect the company to return excess cash to shareholders, noting that MAHB is likely to conserve the cash as it has big capex projects coming onstream over the next two years.

“I don’t think they are required to pay any special dividends as they already have an established dividend payout ratio of 50% and they have been adhering to it diligently,” Mo-hshin told Th e Edge Financial Daily via telephone. Maybank has a “sell” call on MAHB, with a TP of RM8.11.

Kenanga Research analyst Lum Joe Shen also believes MAHB is more inclined to pare down debts instead of paying out special divi-dends from this disposal given that they have a senior sukuk of RM250 million due in September 2018.

He reiterated his “up” call on the stock with a higher TP of RM8.55 from RM8.38. MAHB shares closed down one sen or 0.11% to RM9.17 yesterday, for a market capitalisa-tion of RM15.02 billion. Th e stock has risen 40.6% over the past year.

DBE Gurney proposes diversifi cation into property developmentBY A H M A D N AQ I B I D R I S

KUALA LUMPUR: Poultry com-pany DBE Gurney Resources Bhd is diversifying into the property development industry, via the joint development of a mixed aff ordable project in Bota Kanan, Seri Iskandar, Perak with an esti-mated gross development value of RM24.5 million.

DBE’s wholly-owned subsid-iary DBE Development Sdn Bhd will undertake the proposed joint development with Misi Jutari Sdn Bhd.

Under the proposed joint ven-ture (JV), DBE Development and Misi Jutari will be entitled to 75% and 25% shares respectively of the net development profi t.

Spanning 3.765ha, the project features 10 one-storey semi-de-tached houses, 85 one-storey ter-raced houses, three two-storey shophouses and 16 one-storey shophouses.

In a fi ling with Bursa Malay-sia yesterday, DBE Gurney said the move was for the group to diversify into other industries with strong growth prospects in-stead of relying solely on its core business.

It said the future prospects of the existing business are ex-pected to remain challenging, pointing to the losses for the fi-nancial years 2012 to 2015 end-ed on Dec 31.

“Th is trend may not augur well for the future fi nancial perfor-mance of the DBE Group. In view of the foregoing, the company has identifi ed the development projects as new business oppor-tunities for the group to diversify its earnings base and reduce its dependency on its existing busi-ness,” said DBE Gurney.

In a separate statement yes-terday, DBE Gurney executive director Datuk Doh Jee Ming said the group intends to diversify into the construction-related business to complement the property de-velopment. “We will undertake construction works of identifi ed projects/contracts to be procured from time to time.”

It expects the proposed joint development to contribute more than 25% of its net profit and may result in the diversion of 25% of its net assets to the new operations.

“Th e board believes that the proposed joint development is expected to contribute positive-ly to its future earnings and im-prove the fi nancial position of the DBE Group.

“The additional revenue con-tribution from the proposed joint development is expected to enhance the company’s prof-itability and returns on share-holders’ funds, and improve the shareholders’ value over the medium to long term,” said the group.

Th e group expects to complete the proposals by the second quar-ter of 2018.

(From left) Mohd Khaidzir, Johan and Kasturi at the media briefi ng yesterday. Photo by Patrick Goh

6 H O M E B U S I N E S S TUESDAY FEBRUARY 6, 2018 • THEEDGE FINANCIAL DAILY

Perodua market share breaches 40%Estimate is based on the 17,693 units sold in January — CEO

BY A D A M A Z I Z

BY A N U R A D H A R A G H U


KUALA LUMPUR: Perusahaan Otomobil Nasional Sdn Bhd (Per-odua) said it sold 17,693 units in January this year — up 25% from 14,203 a year ago — which repre-sented 40.28% of the total industry volume (TIV) last month.

Th e percentage — against an estimated TIV of 43,930 units — could be the highest-ever monthly market share in Perodua’s history, according to its chief executive of-fi cer (CEO) Datuk Aminar Rashid Salleh during a luncheon with the media and the group’s business partners here yesterday.

Perodua’s market share stood at 35.53% in 2017, with 204,887 units sold, against a full-year TIV of 576,635 units.

“While we defer to the Malay-sian Automotive Association’s (MAA) numbers, we are cautiously optimistic that for January 2018, our monthly market share is the highest ever in our history,” he added. MAA has yet to publish the offi cial TIV for January.

“Th is was spurred by deliveries of the new Myvi, as well as contin-ued strong demand for our other models,” said Aminar. The new Myvi, alongside Perodua’s other models — Axia, Bezza and Alza — all retained their leads in their respective segments, he added.

The national carmaker sold 9,029 Myvis, 4,085 Axias, 2,776 Bezzas and 1,803 Alzas in Janu-ary 2018. With no newer launches this year, it is aiming to sell 209,000

cars in 2018 — 2% more than the 204,900 units it sold in 2017, and higher than its record high of 207,110 units in 2016.

Between Nov 9, 2017 and Feb 4 this year, its third-generation Myvi variants were booked 48,000 times, over 50% of which were by new Perodua customers, Aminar shared.

But the group was unable to keep up with the overwhelming demand; only 20,000 units were delivered during that period.

“Our facilities are working over-time … the main focus right now is to expedite the delivery [of the Myvis].

“We sincerely apologise for the wait; the Perodua Manufacturing Sdn Bhd plant will continue to work overtime until demand sta-bilises [in three to fi ve months],” said Aminar.

In tandem with higher demand, Perodua also expects to breach the

RM5 billion mark for the fi rst time this year in terms of annual vehi-cle parts purchases, from between RM4.8 billion and RM4.9 billion registered in the three years be-tween 2015 and 2017.

Meanwhile, in a related matter, Aminar said it is “too early” to tell the extent of the impact of banks’ recent interest rate hikes — follow-ing Bank Negara Malaysia’s move to raise the overnight policy rate by 25 basis points — on group sales.

“Many of our customers opt for the fi ve- to seven-year loan period, so the impact on monthly repay-ments, based on our estimation, is not too high,” said Aminar.

“But the announcements have only been made recently … we will continue to monitor this; we hope the banks will continue to support us,” said Aminar, adding that Perodua’s historical loan ap-proval rate for its customers stood at just under 50%.

KUALA LUMPUR: Stone Mas-ter Corp Bhd’s external auditors Messrs PKF have expressed a dis-claimer of opinion in the Practice Note 17 (PN17) company’s audited fi nancial statements for the year ended Sept 30, 2017 (FY17).

In a fi ling with Bursa Malaysia yesterday, the marble and granite product maker said PKF was un-able to provide an audit opinion as it could not obtain suffi cient appropriate evidence relating to opening balances, unresolved matters during the fi nancial year, contingent liabilities and uncer-tainty over whether the company is a going concern.

The auditors could not ver-ify the accuracy and existence of RM651,986 in trade payables, RM536,508 in amount due to con-tract customers of the group, and non-trade payables and accrual of the group amounting to RM2.11 million and RM612,822 respectively.

PKF also could not determine if there were misstatements in the group’s revaluation reserves and corresponding tax liability of RM4.15 million and RM1.9 million respectively, as well as the nature and classifi cation of certain con-solidation adjustments amounting to RM1.53 million.

“In view of the above, the exter-nal auditors were unable to satisfy themselves that the opening bal-ances do not contain misstate-ments that may materially aff ect the fi nancial performance, cash fl ows and fi nancial position of the group for FY17.

“Accordingly, they were unable to determine whether any adjust-ments might have been necessary in respect of the fi nancial perfor-mance, cash fl ows and fi nancial position of the group for FY17,” Stone Master said.

Th e auditors noted the contin-gent liabilities arising from the le-gal suit with Quantum March Sdn Bhd, which has a potential fi nancial impact of RM20 million together with an unascertained sum that may be assessed by the court, and another suit with Starfi eld Capital Sdn Bhd, relating to the repayment

of loans in default amounting to RM18 million with interest.

Th e directors have yet to deter-mine the legal suits as contingent liabilities as the suits are ongo-ing and there is no indication of a probable outfl ow of resources aris-ing from the outcome of the suits.

“As there is material uncertain-ty over the outcome of the legal suits, and there is presently in-suffi cient information to assess the possibility of an obligation to the company and the probability of an outfl ow of resources arising from the outcome of the suits, we have been unable to determine whether the legal suits constitute contingent liabilities under MFRS 137 Provisions, Contingent Liabil-ities and Contingent Assets that require the appropriate and pre-scribed disclosure in the fi nancial statements,” said PKF.

Th ere is also material uncer-tainty over whether Stone Master is a going concern, as the group and the company incurred a net loss of RM4.66 million and RM5.83 million respectively for FY17.

The current liabilities of the group and the company also ex-ceeded current assets by RM17.3 million and RM17.56 million re-spectively, and accumulated losses of RM27.91 million and RM39.29 million respectively.

Moreover, Stone Master is clas-sifi ed under PN17 status, with the company currently in the midst of formalising its regularisation plan, with uncertainty over whether the authorities will approve it or whether the plan will be success-fully implemented.

As the financial statements were prepared on the assumption that the company will continue as a going concern, PKF noted that Stone Master may be required to write down assets to their net real-isable value, classify all long-term assets and liabilities as current, and provide for any costs which may arise if the company’s abil-ity to operate as a going concern is not forthcoming.

Stone Master shares close up one sen or 5.56% at 19 sen yester-day, bringing it a market capitali-sation of RM17.08 million.

KUALA LUMPUR: Palm oil stock-piles in Malaysia likely held steady in January as exports weakened and production in the second-largest grower fell the most in two years.

Inventories totalled 2.73 million tonnes, unchanged from December when reserves reached the highest since November 2015, according to the median estimate of eight plant-ers, traders and analysts surveyed by Bloomberg.

Reserves may have climbed 77% from a year earlier.

Crude palm oil (CPO) produc-tion slumped 14% to 1.57 million tonnes, the lowest since June and the biggest decline since January 2016. Exports fell 7% to 1.32 million tonnes, the lowest since April. Th e Malaysian Palm Oil Board is set to

release offi cial data on Feb 12.Th e outlook for palm oil this year

is bearish amid soft demand from key buyers India and Europe, ac-cording to Oversea-Chinese Bank-ing Corp. Palm oil has retreated 1% this year after slumping 19% in 2017 on concerns about elevated stock-piles and a weaker export outlook.

Despite Malaysia’s decision to sus-pend export duties on CPO, ship-ments in January were weak as Chi-nese traders reduced purchases due to high domestic stockpiles, according to William Simadiputra, an analyst at PT DBS Vickers Sekuritas Indonesia. Th e European Union’s vote to reduce palm oil in Europe’s biodiesel energy mix has also worried some traders, he said by phone yesterday.

Palm oil for April delivery on Bursa Malaysia Derivatives rose 0.7% to RM2,485 a tonne yesterday.

Production watchThe decline in production was more pronounced in Peninsular Malaysia estates compared to Sa-bah and Sarawak, according to Ivy Ng, the regional head of ag-ribusiness at CIMB Investment Bank Bhd.

Output was probably aff ected by wet weather and recent fl oods in some plantations, said Marcel-lo Cultrera, the institutional sales manager at Okachi (M) Sdn Bhd. Output in February may drop 11% to 12% before stronger production kicks in by June, he said by email.

Malaysia’s imports were fore-cast at 20,000 tonnes in Janu-ary, rising from 14,991 tonnes a month earlier. Estimates for do-mestic consumption ranged be-tween 240,000 tonnes and 270,000 tonnes. — Bloomberg

Malaysian palm reserves seen steady at more-than-two-year high

Stone Master’s auditors issue disclaimer of opinion for FY17

KUALA LUMPUR: Malaysia’s ex-ports are expected to have risen at a slower annual pace for a second consecutive month in December last year, a Reuters poll showed, refl ecting a high-base eff ect from a year earlier and lower commod-ity prices.

Exports likely rose 12.4% in December from a year earlier, ac-cording to the median forecast in a Reuters poll of 10 analysts, slowing from November’s 14.4% expansion.

However, individual estimates

for export growth diff ered widely from 1.4% to 17.8%.

Malaysia has enjoyed dou-ble-digit growth in exports over the past year, peaking at 32.5% in May 2017. Imports were seen growing 13.4% annually in De-cember, slowing from 15.2% in the previous month. Malaysia reports trade data in ringgit.

Th e trade surplus in December was expected to narrow slightly to RM9.7 billion, from RM10 billion in November. — Reuters

Aminar: While we defer to MAA’s numbers, we are cautiously optimistic that for January 2018, our monthly market share is the highest ever in our history. The Edge fi le photo

Malaysia’s export growth seen slowing to 12.4% y-o-y in December

ST O C KS W I T H M O M E N T U M 7TUESDAY FEBRUARY 6, 2018 • THEED G E FINANCIAL DAILY


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.

H O M E BU S I N E S S

KUALA LUMPUR: Foreign investors acquired RM3.38 billion net worth of Malaysian equities in the month of Jan-uary this year, eight times more than the RM418.8 million net recorded in the same period last year.

Last week, the infl ow of global funds into Bursa Malaysia continued for the sixth uninterrupted week, said MIDF Amanah Investment Bank Bhd (MIDF Research), albeit at a slower pace amid the holiday-shortened week.

“Based on preliminary data from Bur-sa which excluded off -market deals, in-ternational investors acquired RM344.6 million net of local equities last week, less than half of the RM872.6 million net acquired in the preceding week,” MIDF Research analysts Danial Razak and Adam M Rahim wrote in a weekly fund fl ow report yesterday.

“During the three-day trading week, foreign investors were net buyers on two days.

“Foreign investors bought RM186.8 million net worth of Malaysian equities [last] Monday amid the rally in bank-ing stocks, due to expectations that banks will benefi t in terms of interest margins following the OPR (overnight policy rate) hike announced on Jan 26, 2018,” they wrote.

Correspondingly, the FBM KLCI benchmark settled at its highest level in more than three years at 1,870 points that same day.

But profi t-taking last Tuesday saw foreign investors selling RM70.6 million net of local equities. “Another trigger-ing factor for [last] Tuesday’s foreign selling was the overnight pullback in Wall Street amid concerns over higher interest rates following the jump in US Treasury yields,” the duo wrote.

Foreign buying clawed back last Fri-day after a two-day break, with a net in-fl ow of RM228.5 million net, the highest in six trading days.

Participation-wise, foreigners re-mained active, as indicated by the for-eign average daily trade value (ADTV),

‘Foreign buying of Malaysian stocks at RM3.38b net in January’BY S A M A N T H A H O

which stood above RM1 billion for the past fi ve weeks. Th e ADTV was up 46% to RM1.6 billion last week — the highest since June last year — from RM1.1 billion in the prior week.

Meanwhile, despite a weekly drop of 9% to RM1.3 billion, the retail market continued to remain attractive, MIDF Research noted.

Globally, equity markets were seen turning its back in the fi fth week of 2018, with Wall Street marching into the red last week: Overall, last Friday, the Dow Jones Industrial Average fell 4.12%, its worst decline since June 2016. Th e S&P too staged its worst dip since August 2016 to 2,762.13 points.

Th e Hang Seng Index also declined by 1.67% after seven weeks of gains, while the FTSE 100 Index in Europe fell to 7,443 points last Friday, its largest weekly drop since April 2017.

In contrast, the FBM KLCI bucked the global declining trend and advanced 0.89% to close at 1,870 points last Friday, logging its 10th uninterrupted week of gains.

Further, foreign funds made an exit in most markets in Asia last week after fi ve straight weeks of infl ows and sold some US$2.03 billion (RM7.92 billion) net, al-most off setting the previous week’s infl ow of US$2.05 billion, according to aggre-gated data from seven stock exchanges tracked by the research house.

MCT shareholders told to reject unfair, unreasonable takeover off er

KUALA LUMPUR: MCT Bhd sharehold-ers have been told to reject the takeo-ver bid launched by Philippines-based property developer Ayala Land Inc’s unit Regent Wise Investments Ltd, which has been deemed “not fair and not reason-able” by independent adviser Kenanga Investment Bank Bhd (Kenanga IB).

Last Friday, Regent Wise bought 230.12 million shares or a 17.24% stake in MCT from Tan Sri Goh Ming Choon for RM202.5 million or 88 sen per share.

In an independent advice circular yesterday, Kenanga IB said in view that

BY S YA H I R A H S Y E D J A A FA R the off er price of 88 sen is lower than the estimated fair value per MCT share of RM1.38, representing a discount of 36.23%, the off er is deemed not fair.

Th e off er is also not reasonable, it said, considering that the offeror intends to maintain the listing status of MCT, and the liquidity of MCT shares, with an average daily trading volume of 73.77 million for the past 12 months.

“Premised on these and the evaluation by Kenanga IB as a whole, Kenanga IB is of the opinion that the off er is not fair and not reasonable. Accordingly, we advise and recommend that the holders reject the off er,” it added.

HONG LEONG FINANCIAL GROUP BHD (-ve)

HONG LEONG FINANCIAL GROUP 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

2.101.90

13.840.861.282.00

21,802.821,147.52

0.9814.35-19.00

*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

OLDTOWN BHD (-ve)

OLDTOWN 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

1.703.00

22.031.203.503.15

1,459.20463.24

0.551.82-3.32


T7 GLOBAL BHD (+ve)

T7 GLOBAL 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

0.001.80

23.83-

2.03-

256.44416.98

1.020.32-0.64


SHARES in Hong Leong Financial Group Bhd (HLFG) (fundamental: 1.9/3, valuation: 2.1/3) triggered our momentum algorithm yesterday for the second time this year.

The counter slid two sen or 0.1% to RM18.98 yesterday, after 1.61 million shares were done, versus its 200-day average vol-ume of 158,609 shares.

HLFG’s net profi t for the fi rst quarter end-ed Sept 30, 2017 grew 17.9% to RM455.25 million from RM386.19 million last year, on

higher contributions from the commercial banking and insurance divisions.

Its quarterly revenue climbed 8.2% to RM1.28 billion, from RM1.18 billion last year.

Th e group declared a fi rst interim divi-dend of 13 sen per share for the fi nancial year ending June 30, 2018, paid on Dec 28, 2017.

Th e group is expected to maintain its per-formance in line with market conditions for the current fi nancial year.

SHARES in OldTown Bhd (fundamental: 3/3, valuation: 1.7/3), which triggered our momentum algorithm yesterday for the first time this year, closed unchanged at RM3.15.

It saw 5.26 million shares, exceeding its 200-day average volume of 880,792 shares, traded.

OldTown, which is in the midst of a RM1.47 billion takeover by global coffee maker Jacobs Douwe Egberts BV, is expand-ing its OldTown White Coffee restaurant

chain to Cambodia.OldTown, via its wholly-owned subsid-

iary Kopitiam Asia Pacific Sdn Bhd, inked a master licence agreement with Cambo-dia-based Biniton Food & Beverage Co Ltd and its chairman Bun Khang, which grants them the exclusive right to operate their restaurant business there.

The term of the agreement is five years, commencing from Dec 14, 2017, with an option to renew for two consecutive terms of five years each.

SHARES in T7 Global Bhd (fundamental: 1.8/3, valuation: 0/3) triggered our momen-tum algorithm yesterday for the seventh time this year.

Th e counter closed up half a sen or 0.81% at 62 sen yesterday, with 14.99 million shares traded, exceeding its 200-day average vol-ume of 2.47 million shares.

Last Friday, it was reported that T7 Global would be investing about RM200 million in its metal treatment plant in Serendah over the next three to fi ve years.

Th e facility was expected to start con-tributing to the group’s revenue by the fi rst half of fi nancial year 2019.

Th e plant is undertaken by T7 Kilgour Sdn Bhd, a 60:40 joint venture (JV) company between the group’s aerospace arm T7 Aero Sdn Bhd and KOV Ltd, a wholly-owned unit of UK-based Kilgour Metal Treatments Ltd.

The RM200 million, to be funded in-ternally by the JV company, covers all land development and training for new personnel.

(RM mil)

Weekly net flow of foreign funds intoMalaysian equities since January 2016

Source: Bursa Malaysia preliminary statistics

Jan 1

, 2016

Jan 2

9F

eb 2

6M

arc

h 2

5A

pril 22

May 2

0June 1

7July

15

Aug 1

2S

ept 9

Oct 7

Nov 4

Dec 2

Dec 3

0 J

an 2

7, 2017

June 1

6

Oct 6

Nov 3

Dec 2

9Jan 2

6

Dec 1

Sept 8

Aug 1

1July

14

May 1

9A

pril 21

Marc

h 2

4F

eb 2

4

-1,500

-1,000

-500

0

500

1,000

1,500

2,000

8 P R O P E RT Y TUESDAY FEBRUARY 6, 2018 • THEEDGE FINANCIAL DAILY

China’s land-buying spree in HK winding downS&P Global cites tighter capital controls, greater scrutiny by regulators as factors

BY F R E D E R I K B A L FO U R

HONG KONG: The land-buying spree by mainland developers in Hong Kong is running out of steam.

In the 10 months through Jan-uary, Chinese developers bought only 11% of the land sold at govern-ment tenders, down from as high as 53% in the fi scal year through March 31, 2016, according to an S&P Global Ratings report yes-terday. Th e rating company cited tighter capital controls and greater scrutiny of overseas property buys by Chinese regulators.

One of the most aggressive buy-ers before the slowdown was HNA Group Co, which gobbled up four plots worth HK$27.2 billion be-tween November 2016 and March of last year. Th e debt-saddled group is taking the rare step of inviting outside investors to buy into two of those pieces of land.

Yet even with limited Chinese bidding, land prices are still rising

HONG KONG: Property developer Country Garden has obtained reg-ulatory approval to launch 10 bil-lion yuan (RM6.2 billion) worth of quasi-real estate investment trusts (REITs), China’s largest so far, as the central government pushes for the growth of the rental housing market.

Th e regulator approved the issu-ance of the asset-backed securities

Loan for Hong Kong skyscraper would be biggest since 2015HONG KONG: A Chinese-led consortium is seeking a fi nanc-ing package of HK$33 billion (RM16.5 billion) to buy a land-mark skyscraper, testing the wa-ters for what could be the big-gest property loan in Hong Kong since 2015. Th e jumbo borrow-ing comes amid the Hong Kong Monetary Authority’s eff orts to tighten lending for developers. Th e terms of the fi nancing pack-age are still being fi nalised and the numbers could change, ac-cording to people familiar with the matter, who are not author-ised to speak publicly and asked not to be identifi ed. — Bloomberg

Delhi traders shut shops for second day in sealing drive protestNEW DELHI: Hundreds of thou-sands of shops and business es-tablishments at major markets in Delhi remained closed on Satur-day, the second consecutive day against the local bodies’ ongoing sealing drive. Th e sealing drive began in December following an order from the country’s Su-preme Court of an India-appoint-ed monitoring committee to seal those shops whose owners had not paid conversion charges or had fl outed local by-laws while constructing the premises and constructed more than the per-missible limits. — Bernama

‘Do not use inferior quality infrastructural materials in Pahang’LIPIS: Pahang Regent Tengku Abdullah Ahmad Shah has re-minded all parties who have been given projects to develop infrastructure facilities in the state to follow the set specifi ca-tions and not use inferior quality materials. He said this would en-sure that all these facilities would be long-lasting for the benefi t of the people and there would not be any unwanted incidents re-sulting in property damage and loss of life. — Bernama

I N BR I E F

— meaning higher housing pric-es down the road in what already looks like an overheated market. Last month, Wharf Holdings Ltd

bought land in Kowloon for a price that suggests the homes it builds will sell for as much as HK$40,000 (RM19,948) per square

foot, according to Knight Frank LLP, compared with HK$30,000 or HK$35,000 per square foot for existing homes. — Bloomberg

Country Garden approved to issue 10 billion yuan quasi-REITsBY C L A R E J I M last Friday, the Shenzhen Stock Ex-

change said on a fi ling yesterday. Country Garden is China’s largest property developer by sales.

The securitisation size is the largest so far in the rental housing industry and the quasi-REITs mar-ket. Developers and rental-housing operators have been rushing into the securitisation and debt market since the second half of last year to raise funds for the policy-support-

ed but low-return sector.China announced plans in Au-

gust to launch pilot programmes in 13 major cities, including Bei-jing and Shanghai, to build rent-al-housing projects in an eff ort to ease a housing shortage.

State-owned Poly Real Estate and Shanghai-based CIFI gained approval to issue five billion yuan and three billion yuan quasi-RE-ITs respectively for their rent-

al-housing projects late last year. Country Garden has said it aims

to launch one million units of rent-al apartment in the coming three years. Chief financial officer Bi-jun Wu told reporters last Friday that the profi tability of the rent-al-housing business in the short term would be low, so it was expect-ed that the government would roll out supportive measures for market participants. — Reuters

1 0 B R O K E R S’ C A L L TUESDAY FEBRUARY 6, 2018 • THEEDGE FINANCIAL DAILY

Fraser & Neave Holdings Bhd(Feb 5, RM29.88)Upgrade to buy with a higher tar-get price (TP) of RM33.74: Fraser & Neave Holdings Bhd’s (F&N) food and beverage (F&B) segment in Malaysia dominated F&B Th ailand’s in terms of a financial year 2017 (FY17) revenue breakdown with a revenue mix of about 57% and 43% respectively. However, FY17 oper-ating profi t was dominated by F&B Th ailand (65%) over F&B Malaysia (35%) and we attribute this to cost diff erential between the two units, which resulted in F&B Th ailand hav-ing a superior operating profi t mar-gin (13% in FY17) to its sister com-pany F&B Malaysia (5% in FY17).

Th e management of the Th ai F&N indicated that the sugar processing cost in Th ailand is half the cost in Malaysia, staff wage is 315 Th ai baht (RM38.58) per day or approximately RM800 per month, which is lower than the minimum wage of RM1,000 per month in Malaysia, and that fresh milk is locally sourced (70,000 tonnes in FY17), hence import duty is not required to be paid on it.

Looking forward, the F&N man-agement has guided that F&B Ma-laysia is currently paying RM2,340 per tonne for refi ned sugar. Th is is a 22% decline since mid-2017 and is expected to impact F&N’s FY18 earnings positively. Furthermore, the skimmed-milk powder price

continued its downtrend movement to US$1,818 (RM7,090) per tonne level as of January 2018 which is a 30% decline year-on-year (y-o-y). For FY18, we project the refined sugar to cost an average of RM2,600 per tonne (-13.3% y-o-y) in Malay-sia and RM1,400 per tonne (-9.6% y-o-y) in Th ailand. Meanwhile, we expect the skimmed-milk powder to trade at an average of USS2,000 per tonne (- 4.8% y-o-y) in 2018.

On the currency fronts, both the Th ai baht and Malaysian ringgit are strengthening against the US dollar lately and this would benefit the group as a net importer. Note that approximately 60% of F&N’s raw materials are imported (skimmed-milk powder, whey and tin plates for packaging), which suggests that the FY18 production cost would be low-er underpinned by both decline in commodity price and appreciation in the baht and the ringgit against the US dollar. Note that the current Malaysian ringgit (RM3.89/US dol-lar) and Th ai baht (THB31.35/US dollar) has strengthened by 12.1% y-o-y and 10.6% y-o-y respectively against the US dollar.

We upgrade our call to “buy” on F&N as the company is a benefi ciary of the current downtrend in soft commodity prices and strength-ening of the Malaysian ringgit and Th ai baht against the US dollar. — TA Securities Research, Feb 5

JAKS could expand footprint in Vietnam energy segment

Margin expected to improve at group level for IOI Corp

JAKS Resources Bhd

FYE DEC (RM MIL) 2015A 2016A 2017F 2018F 2019F CAGR (%)

Revenue 461.2 640.4 1,000.2 1,163.4 1,132.9 25.2Operating profit 74.5 16.5 137.9 161.5 162.5 21.5Pre-tax profit 55.3 -7.3 59.6 115.8 132.7 24.5Net profit 41.5 -16.7 36.2 70.4 80.7 18.1EPS (sen) 9.5 -3.8 8.3 16.1 18.4 18.1PER (x) 14.9 NA 22.0 11.4 9.9Sources: Company, PublicInvest Research estimate

IOI Corp Bhd

FYE JUNE 2015A 2016A 2017A 2018F 2019F

Revenue 11,542 11,739 14,127 14,850 15,231Ebit 1,142 1,355 1,560 1,757 1,776PBT 316 966 1,087 1,674 1,699Net income 52 630 733 1,315 3,841Core net income 1,134 1,176 1,007 1,315 1,309EPS (sen) 0.82 9.99 11.65 20.92 61.10Core EPS (sen) 17.83 18.66 16.00 20.92 20.82Net DPS (sen) 9.00 8.00 9.50 23.46 10.41Net dividend yield (%) 1.9 1.7 2.0 5.0 2.2Core PER 26.4 25.2 29.4 22.5 22.6NTA/share (RM) 1.04 1.05 1.10 1.27 1.77P/NTA 4.52 4.48 4.26 3.71 2.65ROE (%) 0.7 8.8 9.8 15.5 33.0ROA (%) 0.3 3.6 4.1 7.8 22.5Sources: Company, MIDF Research forecast

F&N seen to benefi t from the strengthening of ringgit, baht

JAKS Resources Bhd(Feb 5, RM1.84)Maintain neutral with a higher fair value (FV) of RM1.75: JAKS Resources Bhd, together with Chi-na Power Engineering Consulting Group Co Ltd (CPECC), is build-ing a 1,200 megawatt (mw) coal-fi red power plant in Hai Duong province, Vietnam. Works com-menced in the second quarter of 2016 (2Q16), with the fi rst phase to be completed by 2020. Th e joint venture (JV) company has also secured US$1.4 billion (RM5.46 billion) in financing, or 75% of project costs. As reported earlier, we expect its near-term earnings to be underpinned by its RM1.6 billion Vietnam engineering, pro-curement and construction (EPC) contract and other local jobs such as the Sungai Besi-Ulu Kelang El-evated Expressway (SUKE), while recurring income from its power plant will kick in by 2020.

The 200ha site for the power plant, which is located about two-and-a-half hours away from Hanoi Airport, is progressing well with Phase 1 expected to be completed by 3Q20. We are pleasantly sur-prised by the condition of the site which appears to be systematical-ly organised and connected by a

highway that was just completed last year. Also, we understand that the manufacturing of the machin-ery and equipment (M&E) is on track to be completed by this year. Currently, the equipment is being manufactured in China.

JAKS’ management believes that it can leverage on its track re-cord in Vietnam to explore more power-related jobs in the country. We understand that it could ex-pand its footprint into other prov-inces in Vietnam with eyes on the renewable energy segment. Th at said, renewable energy is still at the nascent stages in Vietnam due to prohibitive high costs and un-conducive weather for wind and solar power in certain areas. Th e potential is attractive, nonetheless, given state-owned power compa-ny Electricity of Vietnam’s (EVN) plans to venture into solar-pow-ered projects in view of the annual 10%-to-15% increase in domestic demand for power.

According to Vietnam Invest-ment Review, EVN has the man-date to support the development of solar-powered projects and is “responsible for buying all electric output from on-grid solar-powered projects at a feed-in-tariff of 9.35 US cents (36.47 sen) per kilowatt

hour”. Power spending in Vietnam is expected to be at US$123.8 bil-lion on EVNs estimates, to develop the country’s power system within the next 20 years. Hence, power spending is expected to average about USS6.8 billion per annum. All in, Vietnam plans to invest in up to 98 power plants with a total capacity of 59,444mw. Th is pre-sents an immense opportunity for the JAKS group, in our view, to become one of the meaningful power plant owners in Vietnam if it can deliver its maiden power plant project successfully.

More importantly, it can also potentially work with its current partner, CPECC, which is the wholly-owned subsidiary of China Energy Engineering Corp (CEEC), which is, in turn, controlled by

state-owned power conglomerate China Energy Engineering Group Co. As reported earlier, this con-glomerate is engaged in the de-sign and construction of power plants, with projects across Chi-na and in more than 80 countries overseas. It also has businesses in equipment manufacturing, explo-sives and cement production and investments in power projects. Notable projects, among others, include the construction of the Three Gorges Project in Central China’s Sichuan province and a nuclear-power project in Guangxi province. As for the coal-fired power plant, it actually had built a similar twice a 600mw power plant in Vinh Tan, Vietnam.

Last year, the group announced land sales amounting to about

RM194 million. To recap, it dis-posed of its 14.8-acre (5.99ha) land at USJ 1, Subang Jaya for RM167.6 million and another land measur-ing about three acres for RM25.9 million. Th is, in our view, is posi-tive and would raise the necessary capital, especially, for its projects in Malaysia. As for the Evolve Con-cept Mall, we now understand that the group will focus on improving the occupancy rate. Currently, we understand that the occupancy rate stands at 65%. Admittedly, the timing for the disposal of the mall is uncertain now given the current soft property market. While disap-pointing, we take comfort in the knowledge that the management is taking steps to rationalise its other assets as evident by the land disposals. Elsewhere, the ongoing Pacifi c Star project is expected to be handed over by phases starting from mid-2018.

Th e outstanding order book is estimated at RM2.4 billion, which should underpin its earnings for the next two to three years. Th e EPC contract for the Vietnam plant alone is estimated at RM1.59 bil-lion, with the other key contract being the SUKE job (RM477 mil-lion contract value). — PublicIn-vest Research, Feb 5

IOI Corp Bhd(Feb 5, RM4.65)Maintain buy with an unchanged target price (TP) of RM5.50: IOI Corp Bhd is expected to release its second quarter financial year 2018 (2QFY18) results on Feb 23. We are expecting its 2QFY18 core net income (CNI) to be in the range of RM360 million to RM380 million. Including the 1QFY18 CNI of RM289 million we expect the first half of finan-cial year 2018 (1HFY18) CNI to be in the range of RM649 million to RM669 million. Overall, we believe IOI Corp’s 1HFY18 CNI should meet both consensus and our expectations.

The quarter-on-quarter (q-o-q) improvement is mainly driven by improved fresh fruit bunch (FFB) production (+17% q-o-q to 1.02 million tonnes) which more than offset lower crude palm oil (CPO) price (-3% q-o-q to RM2,611 per tonne based on Malaysian Palm Oil Board data). On a year-on-year (y-o-y) basis, 2QFY18 earnings should exceed 2QFY17 as higher FFB production (+23% y-o-y to 1.02 million tonnes) should more than offset lower CPO price im-pact (-11% to RM2,611 per tonne). To recap, the plantation division

is the biggest earnings contribu-tor for IOI Corp with an operating profit of RM1.12 billion (or 79% of the group’s) in FY17. For the downstream segment, we expect IOI Corp’s margin to be firm as raw material prices have been stable in 2QFY18.

We maintain our FY18 core net profit (CNP) of RM1.32 billion. We also maintain our FY19 CNP of RM1.31 billion.

Our TP is based on 26.3 times

price earnings on FY18 earnings per share reflecting +1.0 standard deviation valuation. We continue to like IOI Corp as the margin is expected to improve at the group level after the sale of its 70% stake in Loders Croklaan, its special dividend of 13 sen and as net gearing which is expected to de-cline significantly to 0.25 times (from 0.78 times). IOI Corp is our top pick for the plantation sector. — MIDF Research, Feb 5

1 2 B R O K E R S’ C A L L TUESDAY FEBRUARY 6, 2018 • THEEDGE FINANCIAL DAILY

SCH Group’s diversifi cation a surprise, risk mitigated

MAHB’s GHIAL stake disposal could unlock foreign investment value

Malaysia Airports Holdings Bhd(Feb 5, RM9.17)Maintain buy with an un-changed target price (TP) of RM10: Malaysia Airports Holdings Bhd (MAHB) an-nounced The disposal of an 11% stake in GMR Hy-derabad International Air-port Ltd (GHIAL) in India to GMR Airports Ltd for a cash consideration of US$76.05 mill ion (RM295.34 mil-lion). The disposal repre-sents a great opportunity for MAHB to unlock value of its foreign investment. Recall that MAHB’s initial invest-ment back in 2002 was about RM40.2 million, indicating a profit on disposal of about RM255.1 million. Over the years, MAHB has not rec-ognised any profit contribu-tion or dividend payments from GHIAL. The exercise is expected to be completed in April 2018 and the pro-ceeds from the disposal will be used to fund MAHB’s in-ternal working capital and capital expenditure (capex).

We are relatively positive on the disposal exercise, where MAHB is realising a sixfold gain on its initial in-vestment of RM40.2 million or 13.3% internal rate of re-turn. MAHB is also in talks with various parties to par-tially divest its 100% stake in Istanbul Sabiha Gokcen International Airport (ISGA) in Turkey. MAHB will still remain as the major share-holder of ISGA. The expected turnaround of ISGA in 2018 will further enhance its val-uation. We have valued ISGA at about RM1.9 billion ver-sus MAHB’s last valuation of €712.5 million (RM3.6 bil-lion) back in 2014. A partial disposal of ISGA will further improve MAHB’s cash flow for domestic capex and a potentially higher dividend payout for shareholders.

Risks include a world crisis (a war, terrorism or epidemic outbreak); shutdowns of Kuala Lumpur International Airport (KLIA) and klia2; and the de-velopment of the High-Speed Rail between Singapore and Kuala Lumpur.

MAHB is expected to be the major beneficiary of a recovery of air travel de-mand in Malaysia, as well as ongoing land development initiatives (under the KLIA Aeropolis master plan). The potential partial divestment of ISGA will further improve MAHB’s valuation. We main-tain our “buy” recommen-dation with an unchanged TP of RM10 based on dis-counted cash flow. — Hong Leong Investment Bank Re-search, Feb 5

Kuala Lumpur Kepong Bhd(Feb 5, RM25.14)Maintain market perform with an unchanged target price (TP) of RM25: Kuala Lumpur Kepong Bhd’s (KLK) management noted that the eff ects of 2015 droughts have largely passed KLK estates, and expects to see fresh fruit bunch (FFB) production on a rising track at 5% to 6% in fi nan-cial year 2018 (FY18). However, the growth would be felt more in the second half of 2018 as the current spate of heavy rains has slowed harvesting activity and could weaken the oil extraction rate due to high water content in the palm fruit. In the longer term, with the conclusion of its (and other large planters’) joint high carbon stock study, KLK has lifted its self-imposed planting morato-rium and hopes to gradually re-sume planting in its Liberian area in line with the latest sustainabil-ity guidelines. Nevertheless, with

KLK’s lower input cost to boost downstream marginsthe slower pace of planting, we expect only modest FFB growth in the coming years.

With January 2018 palm kernel (PK) prices down 34% to about RM2,400 per tonne, we expect lower input cost to improve down-stream margins. While the recent suspension of Malaysian export tax may not result in an immedi-ate demand eff ect, we think, in combination with the uptrend in crude oil prices, demand for oleochemical products should remain consistent in the medium term. Accordingly, management expects downstream businesses to see better contributions in FY18 on the back of internal improve-ments and lower PK prices.

We understand that KLK’s smaller segments, such as prop-erty, rubber and farming, have sta-ble prospects with no immediate expansion plans. Despite a good farming-segment performance in FY17, management notes that

the performance is seasonal and dependent on wheat price trends, and expects minimal surprises ahead from the business. Similarly, property performance is expected to remain slow due to the indus-try-wide property slowdown. As for rubber, rubber prices have recov-ered to about RM8 per kg recently; the company noted that this was also due to higher cost and does not expect changes in its rubber planted area going forward.

We maintain our FY18 to FY19

core net profi t forecasts at RM1.15 billion to RM1.22 billion with an unchanged FFB growth outlook of 6% (in line with the sector’s 8%).

We reiterate “market perform” with an unchanged TP of RM25 based on unchanged calendar year 2018 earnings per share of 109.2 sen applied to a forward price-earnings ratio of 22.9 times. We maintain our mean valuation basis in line with average FFB growth prospects. While we ex-pect to see a recovery in down-stream-segment margins, the low-er crude palm oil price outlook could off set potential gains from higher FFB production and better downstream contributions. We maintain our “market perform” call on KLK, with the potential catalyst being KLK reviving its appetite for mergers and acqui-sitions that was demonstrated in late 2016 with its attempted MP Evans Group plc takeover. — Kenanga Research, Feb 5

SCH Group Bhd(Feb 5, 22.5 sen)Maintain hold with a higher target price (TP) of 22 sen: SCH Group Bhd claimed that the new business venture helps mitigate its depend-ency on its current business, which is more cyclical. We are surprised by the new business diversifi cation as we thought that any future asset acquisition could be related or com-plementary to its existing quarry equipment business or mining in-dustry which renders some forms of synergies. We are uncertain how successful would the proposed di-versifi cation be. Nevertheless, the risk of the new business venture will be mitigated by the profi t guaran-tee undertaken by the vendor for the next three years. According to industry consultant Protégé Asso-ciates Sdn Bhd, the outlook for the event equipment supply market is positive during the forecast period from 2018 to 2021, which is expected to be fuelled by growth in the busi-ness event industry in Malaysia. Th e forecast compound annual growth rate for the business event industry from 2016 to 2020 is 39.5%.

Th e vendor guarantees that TK Tent shall achieve an aggregate profit after tax (PAT) of at least RM15.5 million for the fi nancial year ending June 2018 (FY18) to FY20 (targeted PAT of RM4 million for FY18, RM5 million for FY19, and RM6.5 million for FY20). In return, SCH will off er up to 60 million new shares to the vendor to be issued under the earlier proposed private placement. The vendor shall be liable to pay any shortfall in the guaranteed sum within 14 days after account closing for FY20. To

recap, TK Tent achieved PAT of RM3.9 million, RM6.5 million and RM1 million for its FY15, FY16 and FY17 results respectively.

The purchase consideration of RM50 million will be funded by bank borrowings (70%) and a proposed placement which was announced earlier and/or inter-

nal funds (30%). Th us, the group’s gearing ratio is expected to increase to 0.6 times after the proposed pri-vate placement and this proposed acquisition from the existing 0.3 times as of FY17.

Meanwhile, the new business ac-quisition is deemed as earnings-ac-cretive as the group’s fully-diluted

earnings per share (EPS) for FY19 is also expected to increase by 45.3% to 1.38 sen from 0.95 sen (assum-ing RM5 million PAT contributed by TK Tent, yearly interest on bor-rowings of RM1.6 million for the acquisition and RM700,000 interest savings from the proposed private placement with an enlarged share base of 712.3 million shares). Th e proposed private placement and this proposed acquisition are not inter-conditional with each other. In the event, the proposed private placement is not implemented pri-or to the completion of the pro-posed acquisition; the group shall seek other sources of funding to fund the balance of purchase con-sideration.

Th ere’s no change to our earn-ings forecasts pending sharehold-ers’ approval of the corporate ex-ercise. Th e proposed acquisition is anticipated to be completed by the second quarter of calendar year 2018 and SCH is expected to con-solidate the earnings of TK Tent in the fourth quarter of FY18.

We maintain “hold” with a high-er TP of 22 sen (20 sen previously) after rolling over our valuation to FY19 with a target price-earnings ratio of 23 times and earnings per share of 0.95 sen. Th e better val-uation is to reflect the potential earnings upgrade of the group af-ter taking into consideration the full-year contribution of the event equipment rental business. Still, we retain our “neutral” stance on the stock as we believe that the current share price has factored in this positive news fl ow with its current pricey valuation. — JF Apex Securities Bhd, Feb 5

SCH Group Bhd

FYE AUG (RM MIL) 2014 2015 2016 2017 2018F 2019F

Revenue 65.4 59.6 37.1 44.2 49.8 54.2Gross profit 24.6 22.8 14.3 13.5 18.5 20.8PBT 10.3 9.2 2.3 2.8 7.1 7.9Taxation -3.2 -2.7 -0.8 -1.0 -2.4 -2.7PAT 7.2 6.5 1.6 1.8 4.7 5.2Reported net profit 7.2 6.5 1.6 1.8 4.7 5.2Core net profit 9.2 6.5 1.6 1.8 4.1 5.2GP margin (%) 37.6 38.3 38.5 30.5 37.2 38.4PBT margin (%) 15.7 15.4 6.2 6.3 13.0 14.5Effective tax rate (%) -31.1 -29.3 -34.8 -35.7 -34.0 -34.0Revenue growth (%) 6.7 -8.9 -37.8 19.1 12.6 8.9 Gross profit growh (%) 15.5 -7.3 -37.3 -5.6 37.1 12.5PBT growth (%) -1.9 -10.7 -75.0 21.7 152.5 11.2Net profit growth (%) -6.5 -9.7 -75.4 12.5 159.3 11.2Core earnings growth (%) 19.5 -29.3 -75.4 12.5 125.9 27.6EPS (sen) 1.7 1.6 0.4 0.4 1.1 1.3FD EPS (sen) 1.3 1.2 0.4 0.4 0.9 1.0PER (x) 13.5 14.9 60.5 53.8 20.8 18.7FD PER (x) 18.4 20.2 63.0 58.0 27.0 24.7DPS (sen) 1.00 1.50 0.35 0.00 0.00 0.0Dividend payout (%) 57.3 95.1 90.2 0.0 0.0 0.0Dividend yield (%) 4.3 6.4 1.5 0.0 0.0 0.0Net gearing/(cash) (%) -7.6 -11.2 -4.2 9.3 1.8 1.2ROE (%) 11.6 10.1 2.6 2.8 8.3 8.0ROA (%) 8.2 8.3 2.1 2.2 4.9 4.8BV/share (sen) 0.2 0.2 0.2 0.2 0.1 0.2P/B (x) 1.6 1.5 1.5 1.5 1.7 1.5Sources: Company, JF Apex

KLK’s smaller segments, such as

property, rubber and farming, have stable

prospects with no immediate expansion

plans.

H O M E 1 3TUESDAY FEBRUARY 6, 2018 • THEED G E FINANCIAL DAILY

PM, 1MDB get stay on order to fi le defenceA three-man bench unanimously allows the application by the parties

PUTRAJAYA: Th e Court of Appeal has granted Prime Minister Datuk Seri Najib Razak and 1Malaysia De-velopment Bhd (1MDB) a stay on a High Court decision ordering them to fi le their defence in a civil lawsuit with regard to 1MDB’s settlement with the International Petroleum Investment Company (IPIC).

A three-man bench, comprising Datuk Mohd Zawawi Salleh, Datuk Ahmadi Asnawi and Datuk Kamar-din Hashim, unanimously allowed the stay application by Najib and 1MDB pending disposal of their appeal at the appellate court.

Najib, 1MDB and the govern-

ment have fi led an appeal at the Court of Appeal against the High Court dismissal of their applica-tion to strike out the lawsuit fi led against them by 10 Gerakan Anak Muda Tolak Najib (GANT1) mem-bers. Th e matter is fi xed for case management on Feb 13.

In granting the stay order, Justice Mohd Zawawi, who led the bench, said the court was of the opinion that if the stay was refused, it would be a waste of judicial time in the event the appellate court ruled in favour of the applicants (Najib and 1MDB) in the striking-out matter.

On July 11 last year, GANT1,

headed by Parti Amanah Negara Youth deputy chief Muhammad Faiz Fadzil and nine other indi-viduals, fi led the lawsuit against Najib, 1MDB and the government.

Th e lawsuit was over a consent award at the London Court of In-ternational Arbitration entered by 1MDB with IPIC concerning 1MDB’s alleged US$$3.5 billion (RM13.65 billion) bond assistance from IPIC and its subsidiary Aabar Investment PJS (Aabar Asli) for the purchase of an energy plant.

Th e GANT1 members are seek-ing, among others, a declaration that the settlement agreement and

consent award signed in London were null and void.

On Jan 9 this year, the High Court had dismissed the applications by Najib, 1MDB and the government to strike out the suit.

After the court’s decision, Datuk Wira Hafarizam Harun, representing Najib, said the deadline for his client to fi le his statement of defence is Fri-day but since a stay has been given they need not fi le the defence.

Lawyer Datuk Tan Hock Chuan represented 1MDB while counsel Mohamed Haniff Khatri Abdulla represented the GANT1 members. — Bernama

KUCHING: Sarawak Chief Minister Datuk Patinggi Abang Johari Abang Openg said the state government under his leadership was striving to raise the state’s revenue from various sources.

He said Sarawak was fortunate to have value-added resources that accounted for the third-largest con-tributor to the gross domestic prod-uct at present.

“We are looking at the various constitutional aspects on how we can levy taxes on our existing re-sources to increase state revenue, thereby improving the state’s econ-omy,” he said when opening the na-tional level 83rd Customs directors meeting here yesterday.

Abang Johari said the state gov-ernment needed to increase its rev-enue in order to implement various development projects, especially to develop infrastructure facilities in the rural areas.

He said the state government ap-preciated the contribution of the Royal Malaysian Customs Depart-ment and had approved the project to improve facilities and upgrade the Customs, Immigration and Quaran-tine Complexes in Tebedu near here and Sungai Tujuh in Miri.

In view of the demanding chal-lenges currently faced by the customs department due to the changing eco-nomic landscape as well as the rapid technological development changes,

he urged it to use the latest technolo-gy, including in enforcement duties.

Touching further on Sarawak’s digital economic development, he said it was implemented for the purpose of managing the state economy more effi ciently.

“Th e role of technology is very crucial, we have no other choice but to switch to the use of new technol-ogy if we want to advance,” he said.

Abang Johari said Sarawak lagged behind in terms of connectivity and, as such, the state would spend RM1.5 billion (RM1 billion from the state government and RM500 million from the federal government) to enhance its Internet penetration and infra-structure. — Bernama

Abang Johari: Sarawak looking at ways to raise revenue

PETALING JAYA: A company di-rector was charged in the Ses-sions Court here yesterday with receiving RM16,209,600 in depos-its without a licence and posing as a “Datuk” four years ago.

Kok Chee Boon, 35, claimed trial to all the charges.

Apart from allegedly receiving deposits unlawfully, as charged under Section 137(1), punisha-ble under Section 137(2) of the Financial Services Act 2013, he is also accused of presenting him-self to Lee King Loong, 30, as “Datuk Dave Kok Chee Boon”, as charged under Section 419 of the Penal Code.

Th e off ences were allegedly committed between April 2014 and November 2015 at Sunway Damansara Technology Park, UOB Bank Kota Damansara and Hong Leong Bank Perdana Th e Place in Damansara Perdana here.

Judge Mabel S Muttiah set RM55,000 as bail and ordered the accused to surrender his passport to the court as well as to report to the Kota Damansara police station pending disposal of the cases.

Th e court also set March 12 for remention.

Earlier, deputy public pros-ecutor Hafi zatul Ifa Ab Razak from the Commercial and Cy-ber Crime Unit objected to bail, submitting that off ences under the financial services act are non-bailable, but that additional conditions be imposed should the court allow bail.

Counsel S Subramaniam mit-igated for bail submitting that the accused has to support his elderly parents and a sister aged 25 years. — Bernama

Director charged with receiving RM16.2m deposits without licence

ROYAL VISITOR ... Yang di-Pertuan Agong Sultan Muhammad V signing the guestbook during his visit to the Prime Minister’s Department yesterday. This is the fi rst government department that the King has visited since his installation as the Yang di-Pertuan Agong on April 24 last year. Prime Minister Datuk Seri Najib Razak welcomed the King upon his arrival at Perdana Putra in Putrajaya. Photo by Bernama

Police launch ‘Ops Selamat 12’ for Chinese New YearHULU SELANGOR: In conjunc-tion with the Chinese New Year festive season from Feb 9 to 23, the nationwide “Ops Selamat 12” police operation was launched yesterday. Inspector-General of Police Tan Sri Mohamad Fuzi Ha-run said the operation is aimed at preventing break-ins at homes and minimising road accidents during the festive season. He said the implementation of “Ops Selamat” last year had showed a positive impact on lowering road accidents and fatalities. He said 235 fatal accidents were recorded last year as compared with 261 in 2016, while deaths showed a drop of 22 cases to 257 cases last year, compared with 279 cases in 2016. — Bernama

Meteorology department issues weather warning for SarawakKUCHING: Th e Malaysian Me-teorological Department (Met-Malaysia) has issued a yellow alert weather warning follow-ing a forecast of heavy rain in the state from yesterday until tomorrow. A Sarawak disaster management committee secre-tariat spokesman said heavy rain was expected in Samarahan, Se-rian, Sri Aman, Betong, Sarikei, Sibu, Mukah, Bintulu, Miri and Kapit (Song district, Kapit and Belaga) and here. Earlier yes-terday, Bernama reported that the number of people who had been evacuated had risen as the fl oods worsened in the aff ected areas of Sarawak. — Bernama

Rabies claims sixth life in SarawakKUCHING: Th e Sarawak health department confi rmed yesterday that a man bitten by a rabid dog in November died at the Sar-awak General Hospital on Sun-day, raising to six the number of people who have succumbed to rabies in the state since July last year. Sarawak health direc-tor Dr Jamilah Hashim said the 59-year-old man died at 4.44pm. “Th e cause of death was rabies encephalitis. Th e man, from Jalan Batu Kawa-Matang, Kuching, was bitten by a rabid dog in No-vember last year and had sought treatment at the Sarawak General Hospital on Jan 24 after develop-ing neurological symptoms,” she said in a statement. — Bernama

Stop speculating about Riduan, his ex-wife — IGPULU BERNAM: Th e police have advised the people against mak-ing any kind of speculation about the case of Muhammad Ridu-an Abdullah who has reportedly failed to hand over his youngest daughter to his former wife M In-dira Gandhi. Inspector-General of Police (IGP) Tan Sri Mohamad Fuzi Harun said yesterday the po-lice had deployed teams to trace Muhammad Riduan. “Th is is a sensitive matter. Assumptions can jeopardise public order and na-tional security,” he said at a press conference after launching a road safety campaign. — Bernama

I N BR I E F

1 4 C O M M E N T TUESDAY FEBRUARY 6, 2018 • THEEDGE FINANCIAL DAILY

Th e Bank of Japan’s moment of truth

Th is slump is just a blipDo not panic, Treasury yields north of 3% will not stop the party

BY S H U L I R E N

Is it a blip, a correction or the end of days?

Stock markets in Asia tum-bled yesterday, extending the biggest global sell-off in two years. Equity investors

are fretting as Treasury yields ap-proach 3%. Last Friday, 10-year re-turns touched 2.85%, and the dollar rallied 0.9%.

Some context, however. While the MSCI Asia ex-Japan Index’s 7.5% return in January was good, it is not unprecedented. In January 2001, the benchmark soared 12.8%. Also, US government bond yields have been on a steady rise since the start of the year, and that has not stopped Asia from partying (see chart — Decoupling).

Th e key to Asia’s rally is a weak greenback. When investors pumped US$13 billion (RM50.7 billion) into Chinese stocks last month — the most in at least two years — what they expected was not only capital returns, but foreign-exchange gains. No one is very interested in the Phil-ippines because of the weak peso; as

a result, the Southeast Asian nation is home to the region’s worst-per-forming emerging market this year.

A currency’s strength is dictat-ed by interest rate diff erentials, in theory at least. And it is unclear the dollar will get much stronger. Based on the Bloomberg Dollar Spot

Index, which determines currency weights according to their relative importance to the US in terms of international trade, one-third of the dollar’s value is dictated by the euro. But fi ve-year bunds fi nally off ered you something last week, after be-ing negative since 2015.

Next in line is the Japanese yen, which dictates 18% of the dollar’s value. Th ere have been plenty of murmurings, from this columnist included, that the Bank of Japan will start stealth tightening, especially in a world of rising US interest rates. After all, Japan’s central bank already

owns an unprecedented 45% of the nation’s bond market; how much more entrenched can it get?

Interest rates have been climbing in emerging Asia as well. Malaysia and Pakistan have both embarked on tightening cycles while the Phil-ippines is expected to hike by 50 basis points this year. Interest rates in China and India are also on the up, as Beijing limits credit expan-sion and Delhi can’t stop spending.

You get my point: Just because US rates are strengthening does not mean the dollar will necessarily follow suit.

In fact, rising US rates and a weak dollar would be an ideal case for emerging Asia. US stocks look ex-pensive: Emerging Asia’s 6.1% earn-ings yield is more alluring than the S&P 500’s 4.5%. Plus the MSCI China Index is still 25% shy of its record 1993 high.

Do not think I am blindly bullish. Last month, I warned of overly op-timistic sell-side analysts and said China’s big bank rally was progress-ing too fast. But unless we see a sus-tained stronger dollar, this sell-off looks more like a blip. — Bloomberg

THE Japanese economy has enjoyed seven consecutive quarters of posi-tive growth, with the average annual rate reaching 1.9%. With aggregate demand exceeding potential output by 1%, the country’s “GDP (gross do-mestic product) gap” is now positive. Unemployment is down to 2.7%, the lowest level since 1993, and the job-opening-to-application ratio is 1.56, its highest level since 1974, re-sulting in acute labour shortages in several sectors, including construc-tion, retail, and package delivery. And in January this year, the Nikkei Stock Average rose above ¥24,000 (RM852.72), its highest level since 1991.

But, while these indicators sug-gest that Japan is fi nally out of the woods of more than two decades of stagnation, defl ation, and econom-ic insecurity, the headline infl ation rate, at just 0.6%, remains far below the Bank of Japan’s (BoJ) 2% target. And, notably, while the BoJ had been attributing low infl ation to falling en-ergy prices, energy is now contrib-uting positively to infl ation. When fresh food is excluded from the price index, the rate rises to 0.9%, but falls to 0.3% when also excluding energy.

Considering the current labour shortages, why Japan has not ex-perienced a healthy wage-infl ation spiral remains a mystery. To be sure, infl ation is also missing in the US and Europe. But the Japanese case is particularly striking. Japan’s real

economy has been supported for years by fi scal defi cits as high as 6% of GDP, and by extraordinary quan-titative easing (QE), which BoJ gov-ernor Haruhiko Kuroda introduced in April 2013. Th e debt-to-GDP ratio has since risen to 230%, and the BoJ has assumed ownership of more than 40% of outstanding Japanese government bonds (JGBs).

Th e BoJ has maintained its neg-ative policy rate and 0% ten-year-bond rate by purchasing annually ¥80 trillion in JGBs and ¥6 trillion in equities. But, more recently, it has kept the ten-year-bond rate at 0.0-0.1%, while reducing the pace of new purchases of JGBs to around ¥50 trillion, in what some regard as a stealth tapering.

With Kuroda’s term ending in ear-ly April, two camps of critics have become increasingly vocal. Th e fi rst camp, arguing that the real economy is what matters, wants the BoJ to stop providing stimulus and start worry-ing about its bloated balance sheet.

When the infl ation rate moves closer to the target, the BoJ will have to start raising its policy and long-term rates without adjusting the size of its balance sheet — which is ex-actly what the US Federal Reserve is already doing. Given the low average coupon rate of asset-side long-term bonds, the upward shift of the yield curve will result in a loss for the BoJ (“negative seigniorage”), at least tem-porarily. In the worst-case scenario, the BoJ could exhaust its capital and require a fi scal injection, which could jeopardise its independence.

Accordingly, the fi rst camp be-lieves the infl ation target should be

lowered to 1%. Infl ation would then be on target, and the BoJ could wind down its QE programme. Th e major drawback of this approach is that it would cause the yen to appreciate sharply, striking a blow to the real economy.

Th e second camp believes that more stimulus is needed, and that in-creasing the consumption-tax (VAT) rate in April 2014 was a huge mis-take, as is stealth tapering. Instead, QE and expansionary fi scal policies should remain at full throttle until the 2% infl ation target is reached. Th at means more government expendi-ture through more JGB issues, to be purchased by the BoJ — also known as “helicopter money.” Th e problem is that intentionally blowing up the budget defi cit will increase the risk of a fi scal crisis down the road, without helping the real economy.

When the BoJ held its latest policy-setting meeting on Jan 22-23, it maintained the approach it has followed for more than a year.

Kuroda and his deputy governors are probably hoping that the real economy’s strong performance will translate into higher infl ation soon. But will it?

Generally, three keys to higher in-fl ation are wage increases, resulting from labour scarcity; expectations of higher future infl ation among the public; and a favourable external environment.

With respect to wages, Japanese Prime Minister Shinzo Abe’s gov-ernment has been pressuring major corporations to raise wages by 3% or more. Th at should be manageable, considering that many corporations are enjoying record profi ts. And yet unions in Japan remain timid, and workers remain traumatised from 15 years of defl ation. As a result, many choose job security over pay hikes. Demanding higher wages, they fear, would give companies an excuse to move operations abroad or adopt labour-replacing technologies.

As for the second ingredient, the

BoJ has admitted that it underesti-mated the diffi culty of infl uencing infl ation expectations when it in-troduced its QE programme in April 2013. In Japan, the expected infl ation rate, however it is measured, tends to track the actual infl ation rate, albeit with some lag. Th is helps to explain why simply announcing a 2% target has not anchored the public’s expec-tations, as it has in the US.

At the same time, the external environment is promising. Almost every other advanced economy is experiencing steady, synchronised growth. And emerging economies, especially China, have also regained strength. At the level of the global economy at least, the stars seem to be aligned for infl ation to reach the 2% target rate in Japan, the US and the eurozone.

In Japan, the Phillips curve tends to be L-shaped. Right now, the econ-omy is very close to the kink in the “L,” the point known as the non-ac-celerating infl ation rate of unemploy-ment (Nairu). Any sign of a vertical move (implying higher infl ation with an unemployment rate at Nairu), rather than a horizontal one (a low-er unemployment rate without CPI infl ation), will be welcomed by the BoJ, and good for the economy at large. — Project Syndicate

Takatoshi Ito, a former Japanese dep-uty minister of fi nance, is professor of economics at the School of Interna-tional and Public Aff airs, Columbia University, and senior professor at the National Graduate Institute for Policy Studies, Tokyo University.

BY TA K ATO S H I I TO

When the BoJ held its latest policy-setting meeting on Jan 22-23, it maintained the approach it has followed for more than a year. Kuroda (pic) and his deputy governors are probably hoping that the real economy’s strong performance will translate into higher infl ation soon. But will it? Photo by Reuters

W O R L D B U S I N E S S 1 5TUESDAY FEBRUARY 6, 2018 • THEED G E FINANCIAL DAILY

Suzuki 3Q earnings up 68% on India salesTOKYO: Japan’s Suzuki Motor Corp yesterday announced a 68% jump in operating profi t in the third quarter (3Q) due to ongoing growth in automobile and motorcycle sales in India, its biggest market, as well as in Europe and at home. Operating profi t at Japan’s No 4 automaker came in at ¥86.9 billion (RM3.1 million) in October-December, jumping from ¥51.85 billion a year earlier and exceeding a median forecast of ¥77.49 bil-lion from nine analysts polled by Reuters. Suzuki kept its forecast for full-year operating profi t to ¥300 billion, up 33.3% on the year, based on an assumption that the yen will trade around ¥111 yen to the US dollar and around ¥1.70 to the Indian ru-pee. — Reuters

Mitsubishi Motors 3Q profi t more than doublesTOKYO: Mitsubishi Motors Corp yesterday said its operat-ing profi t more than doubled during the third quarter (3Q) as higher sales in Asia and a weaker yen helped the auto-maker recover from last year’s mileage-cheating scandal. Ja-pan’s No 7 automaker raised its full-year forecast for operating profi t to jump nearly 19-fold to ¥95 billion (RM3.4 billion) as it sees a more positive impact from currency movements than initially expected. It also raised its full-year dividend forecast to ¥17 per share from its previous forecast for ¥14, and projects a net profi t of ¥100 billion, re-versing a ¥198.5 billion loss last year. — Reuters

US fi ntech Stripe picks Dublin for new hubLONDON: US payments fi rm Stripe said yesterday it would place its fi rst engineering centre outside its home market in the Irish capital Dublin, attracted by the city’s growing technology workforce and global outlook. Th e company helps business-es, including food-delivery ser-vice Deliveroo and ride-hailing fi rm Lyft Inc, to accept online payments and has been val-ued at more than US$9 billion (RM35.1 billion) in its latest funding round. Its co-founders are Irish and Dublin is already home to its European head-quarters. — Reuters

South Korea appeals court frees Samsung heirSEOUL: A South Korean ap-peals court yesterday upheld Samsung heir Lee Jae-yong’s bribery conviction but cut his prison sentence to a suspended term, ordering his immediate release. Lee, vice chairman of Samsung Electronics, was con-victed of bribery in connection with the sprawling corruption scandal that brought down for-mer South Korean president Park Geun-hye. He had been convicted of a range of off ences, including bribery, embezzle-ment, money laundering, and perjury of parliament. — AFP

I N BR I E F‘Broadcom plans to boost Qualcomm bid’Chipmaker is mulling raising off er to around US$120 billion

NEW JERSEY: Don’t look now, but the US government needs to borrow more money at exactly the wrong moment — when in-terest rates are spiking.

Last week, in a development fi rst reported by Th e Washing-ton Post, the US Treasury De-partment quietly released data estimating its 2018 borrow-ing needs would check in at US$955 billion (RM3.72 bil-lion), then top US$1 trillion in the next two fi scal years. Th ose sums are considerably higher than last year’s US$519 billion in debt issued, and an upward revision to estimates released by the Treasury in late 2017. Th e federal government’s vora-cious fi nancing needs come at a time when it is already pulling in record levels of tax revenue, to the tune of US$444 billion in October through Novem-ber 2017.

Treasury set to borrow nearly US$1 trillion this year

BY I A N K I N G

BY J AV I E R E D AV I D

SAN FRANCISCO: Broadcom Ltd plans to raise its bid for Qualcomm Inc to around US$120 billion (RM468 billion), according to a person with knowledge of the matter, trying to force its target to come to the table in what would be the largest-ever technology deal.

The chipmaker is considering lifting its off er to about US$80 to US$82 per Qualcomm share, the person said, asking not to be iden-tifi ed because the information is private. Qualcomm chief execu-

BEIJING: Japanese automaker Nis-san Motor and its Chinese joint-ven-ture partner announced yesterday a US$9.5 billion (RM37.05 billion) in-vestment plan in China to increase annual sales by one million vehicles and boost electric-car production.

Dongfeng Motor Co is the latest Si-no-foreign car company to splash out as China rolls out new regulations to limit gas vehicles and boost produc-tion of electric cars in coming years.

Nissan’s high-end brand, Infi niti, will go all electric in China by 2025, according to the plan.

Th e company provided few spe-cifi cs on the investment plan, saying the money would go into several ar-eas, from manufacturing to human resources.

Th e automaker sold 1.5 million vehicles in China last year, and said it plans to sell 2.6 million vehicles by 2022, when revenue is expected to hit 300 billion yuan.

Th e expansion plan calls for 20 new vehicle models, with 30% of its

HONG KONG: At this rate, SoftBank Group Corp’s US$100 billion (RM390 billion) Vision Fund may as well just buy China’s second-largest insurer.

Ping An Insurance (Group) Co, valued at US$214 billion, wants to be the nation’s tech giant of insur-ance, and it looks like Masayoshi Son is happy to back those dreams. Indeed, his Vision Fund could do a lot worse than acquire the state-linked insurer that is beating China’s tech giants in disrupting everything from one-click insurance cover to selling cars.

Over the weekend, Ping An, whose

SoftBank develops Ping An feverBY N I S H A G O PA L A N value doubled in the past year, an-

nounced three fundraisings. The Japanese investor piled into two of them. Th e insurer has been so pop-ular with overseas buyers that unu-sually for a Chinese stock, its Hong Kong H-shares have been trading since last June at a premium to the Shanghai-listed stock.

Th e Vision Fund was among in-vestors in the US$400 million pre-in-itial public off ering (IPO) round for Ping An Healthcare & Technology Co. Japanese fi nancial-services group SBI Holdings Inc, venture capital fi rm IDG Capital and others identifi ed by Ping An only as “etc” also took part in the three fundraisings.

Ping An Healthcare, centred on the Good Doctor app, which con-nects patients with doctors for di-agnosis, is preparing a Hong Kong listing soon to raise as much as US$1 billion. The app is China’s largest healthcare platform, with 192.8 mil-lion monthly active users, ahead of Tencent’s WeDoctor with 150 million, according to Bernstein Research. But it remains unprofi table.

Th e SoftBank fund also was an investor in (the confusingly simi-larly named) Ping An Healthcare Technology. Th at unit, which raised an unusually large US$1.15 billion in its fi rst round of fundraising, is better known as Health Connect

and helps hospitals access patients’ medical records.

Ping An’s OneConnect, which off ers AI-powered services like risk management to banks, also raised external funds for the fi rst time. While SoftBank didn’t participate in the US$650 million exercise, this busi-ness too could prove an attractive proposition. Last year, for example, the Tokyo-based fund bought into the IPO of ZhongAn Online P&C Insurance Co, the first major fin-tech listing in Hong Kong. China’s biggest Internet insurer was backed by Tencent Holdings Ltd, Alibaba Group Holding Ltd and ... Ping An. — Bloomberg

Th e Treasury’s projections are also in line with an analysis by the Wharton School at the University of Pennsylvania last year, which estimated that the GOP’s tax cut would add up-wards of US$2 trillion in fed-eral debt over the next decade.

Given the turmoil in mar-kets and the broad-based tax cut just signed into law, the Treasury’s timing arguably could not come at a worse time. Interest rates recently hit their highest level in four years, which have ricocheted across markets and prompted investors to sell everything in sight. — CNBC

For more, visit www.cnbc.com

tive offi cer (CEO) Steve Mollenkopf had dismissed Broadcom’s earlier proposal of US$70 per share as not being worth consideration.

Broadcom CEO Hock Tan is put-ting pressure back on Mollenkopf and his board, who have so far re-fused to negotiate. By sweetening the off er, he is also improving pros-pects for his nominations to Qual-comm’s board in a shareholder vote next month. A victory in that eff ort would void the current opposition.

The situation is fluid, and the exact level of the new bid has not been finalised, the person said.

Representatives for Broadcom and Qualcomm declined to comment. Reuters reported the plans for an increased bid earlier, citing uniden-tifi ed people.

Broadcom’s hostile bid for the larger San Diego-based company is the latest and most audacious move by Tan in a string of deals that have made his company one of the world’s largest suppliers of semi-conductors. He wants Qualcomm for its leading smartphone modem chip division, an example of what he calls a “franchise” that will continue to dominate. — Bloomberg

Nissan to invest US$9.5bin China to drive sales

An Infi niti QX50 on display at the Auto Guangzhou in Guangzhou, China on Nov 17, 2017. Infi niti will go all electric in China by 2025, according to the US$9.5 billion plan. Photo by Reuters

total sales to be made up of electric vehicles and new energy vehicles.

Beijing has outlined ambitious targets for transitioning China away from gas-powered vehicles.

Authorities will implement a com-

plex quota system in 2019 requir-ing makers to produce a minimum number of electric cars. Th ey are also looking at plans to ban fossil-fuel cars at a date that has yet to be de-cided. — AFP

1 6 W O R L D B U S I N E S S TUESDAY FEBRUARY 6, 2018 • THEEDGE FINANCIAL DAILY

CLSA’s geomancy warns of market dog days in new lunar yearHONG KONG: Stock markets are expected to get off to a pouncing start in the Year of the Dog, but investors might want to sniff around for value a bit later, Hong Kong brokerage CLSA said in its astrological predictions for the 2018 lunar year. CLSA’s Feng Shui Index, a tongue-in-cheek fi nancial forecast for the Year of the Dog which begins on Feb 16, forecasts “a most auspicious day” on Feb 28, al-though it warns of a “summer of discontent”. Th e report, which cautions investors not to “bite off more than they can chew”, draws on fi ndings from a feng shui master. “It’s not a year for metals to bark, so don’t expect much more than a whimper from banks and fi nancials — we expect both to underperform from the previous two years,” CLSA said. — Reuters

Tesco raises profi t fore-cast and names Booker’s Wilson its UK bossLONDON: Tesco, Britain’s big-gest retailer, yesterday fore-cast profi t for the full 2017-2018 year slightly ahead of analysts’ expectations and confi rmed it would pay a fi nal dividend. Ahead of the publication of the circular and prospectus for its £3.7 billion (RM20.38 billion) takeover of wholesaler Booker, Tesco said it had traded in line with management expectations since it last updated on Jan 11. Tesco is buying Booker in the boldest move yet by its chief executive offi cer Dave Lewis, who took over in 2014, provid-ing the supermarket group with access to the faster-growing ca-tering segment of Britain’s £195 billion food market. — Reuters

Italy’s Leonardo to step up Asia sales under new business planSINGAPORE: Italian defence group Leonardo aims to sell around €8.4 billion (RM40.8 billion) of products in Asia over the next fi ve years as part of a business plan designed to boost exports, a senior executive said. Th e state-backed conglomerate last week promised double-dig-it profi t growth in its fi rst busi-ness plan under its chief execu-tive offi cer Alessandro Profumo but disappointed investors on shorter-term prospects, three months after a profi t warning clubbed shares. — Reuters

Lloyds to ban people from buying cryptocurrencies with credit cardsLONDON: Lloyds Banking Group said yesterday that it is stopping people buying cryptocurrencies using cred-it cards, following moves last week from several major US lenders. “Across Lloyds Bank, Bank of Scotland, Halifax and MBNA, we do not accept credit card transactions involving the purchase of cryptocurrencies,” the company told CNBC in a statement. — CNBC

I N BR I E F‘Electroshock’ tax plan for Internet giants set for March EU aims to make these conglomerates pay up in countries where they earn their profi ts

HONG KONG: The number of defaults by heavily indebted cor-porates could rise significantly amid tightening credit condi-tions, according to S&P Global Ratings.

Easy liquidity and underwrit-ing together with low interest

HONG KONG: San Miguel has an alcohol problem. Th e Philippine conglomerate run by billionaire Ramon Ang is consolidating its beer and liquor businesses with its Ma-nila-listed producer of meat, poul-try and feed. A complex share swap suggests the enlarged San Miguel Pure Foods would be worth some US$9.1 billion (RM35.5 billion). It trades at a discount, however.

Th e sprawling parent company decided, with advice from adviser ING Bank, that the newly conceived consumer group warranted a hefty premium. It determined that Pure Foods shares would be fairly valued at nearly 793 pesos (RM60.10) apiece for the deal instead of the 308 where they were trading. Th at meant issu-ing 4.2 billion shares, with a notional

High corporate debt could trigger next default cycle — S&P

San Miguel serves up an enticing spread

BY R O L A N D J A C K S O N

PARIS: Th e European Commission will present by the end of March its plan for overhauling tax rules for Internet giants, aimed at making them pay up in the countries where they earn their profi ts, a top offi cial said on Sunday.

European Union (EU) economic aff airs commissioner Pierre Mos-covici told France’s Radio J that his proposals would “create a consen-

sus and an electroshock” on taxing digital economy revenues.

Under EU law, American technol-ogy titans like Google and Facebook can choose to report their income in any member state, prompting them to pick low-tax nations like Ireland, the Netherlands or Luxembourg. Th is deprives other nations in the bloc of any of the tax revenue, even though they may account for a big-

ger share of the earnings.Th e Organisation for Econom-

ic Cooperation and Development said such rules cost governments around the world as much as US$240 billion a year in lost reve-nue, according to a 2015 estimate.

“Th e idea is to be able to identify the activities of digital companies, so we need a range of indicators — the number of clicks, the number of IP

addresses, advertising and eventu-ally revenues ... and then we’ll fi nd ways to tax them,” Moscovici said. He said the new rules would apply to giants like Google, Apple, Facebook and Amazon, as well as services like Airbnb and Booking.com.

On average, Internet giants pay a tax rate of 9% in Europe, compared with an average corporate rate of 23%, Moscovici said. — AFP

LONDON: Ireland’s troubled Ryanair said yesterday that quar-terly net profi ts rose 12% despite a cancellation crisis, but warned Britain was underestimating the risk of “serious disruption” to fl ights following Brexit.

Profit after taxation in-creased to €106 million (RM515.4 million) in the group’s third quarter or three months to December from a year earlier, the Dublin-based carrier said in a statement.

Passenger numbers grew 6% to 30.4 million people despite the cancellation fi asco.

In another boost, the group forecast passenger traffi c would climb 8% to 130 million people for the full year which ends in March 2018. Th at was upgraded from the previous guidance of 129 million.

And Ryanair also an-nounced a €750 million share buy-back, which will begin this month.

“We are pleased to report this 12% increase in profi ts dur-ing a very challenging third quarter,” said its chief executive offi cer Michael O’Leary.

The outspoken boss ac-knowledged “our pilot roster-ing failure in September”.

Ryanair suff ered a troubled end to 2017, being forced to cancel 20,000 fl ights through to March this year, mainly because of botched holiday scheduling for pilots. Th e re-sults yesterday came one week after Ryanair signed an agree-ment to recognise the British Airline Pilots Association, re-versing its historic hostility to-wards trade unions. — AFP

Ryanair sees profi ts rise despite a cancellation crisis

BY N A R A E K I M

BY J E F F R E Y G O L D FA R B

rates have contributed to a spike in the number of highly leveraged firms, creating a risk masked by relatively low default rates.

Removing the “easy money punchbowl” could trigger the next default cycle since high cor-porate debt levels have increased the sensitivity of borrowers to el-evated financing costs, the rating

agency said in yesterday’s report.Based on a global sample of

13,000 entities, the agency es-timates that the proportion of highly leveraged corporates — those whose debt-to-earnings exceed five times — stood at 37% in 2017, compared with 32% in 2007 before the global financial crisis. — Bloomberg

value of 336 billion pesos, to buy 51% of unlisted San Miguel Brewery and 76% of Ginebra San Miguel from San Miguel Corp.

Investors have been warming up to the valuation, with Pure Foods stock roughly doubling since the combination was an-nounced in November. That’s understandable. The resulting group is something of a hybrid of Universal Robina, a US$7.4 billion local rival, and Thai Bev-erage, the owner of Chang beer and SangSom rum. They trade on an average multiple of a little over 20 times estimated 2017 earnings. Assuming all three San Miguel businesses grew at the same pace for the year as they did in the first nine months, Pure Foods would be worth US$7.4 billion, about 6% more than the current theo-

retical post-deal value.Th at, however, leaves a US$1.7

billion chasm from the compa-ny’s own valuation. Some of that is probably down to limited trading in the shares. After the merger, San Miguel’s control will rise from 85% to 96%, though not for long. New rules require at least a 15% free-fl oat by the end of the year. And Ang has said he’s aiming to sell 30%.

A more widely owned and easi-ly tradable stock could help. At the same time, fund managers should learn more about any cost savings, and about the brewery, which is an unlisted joint venture with little disclosure. Pure Foods has thrived selling liver pastes and other fare. Now, San Miguel will have to be persuasive about a diff erent kind of spread — its subsidiary’s valu-ation gap. — Reuters

W O R L D B U S I N E S S 1 7TUESDAY FEBRUARY 6, 2018 • THEED G E FINANCIAL DAILY

Star Alliance looks to add budget units of members as partnersBEIJING/NEW DELHI: Star Al-liance, the global partnership of airlines ranging from Sin-gapore Airlines Ltd to Unit-ed Continental Holdings Inc, is looking to include low-cost units of its members as part-ners as more and more people fl ock to budget carriers lured by cheaper fares. “Many of our members and many airlines around the world are moving a lot to lower-cost platforms,” chief executive offi cer Jeff rey Goh said in an interview at the Singapore Airshow. “We want to find a way of recapturing these markets off ering the ben-efi ts and privileges that they used to have and enjoy. We want to use this connecting partner model.” — Bloomberg

‘Boeing may express interest in Canada fi ghter jet bid’SINGAPORE: Boeing may ex-press interest in a jet fighter competition in Canada despite a recent trade row, but is still studying the matter, a senior executive said yesterday. Boeing has until Feb 9 to express inter-est in taking part in the bidding for 88 jets worth between C$15 billion (RM47.13 billion) and C$19 billion. Asked ahead of the Singapore Airshow whether the US plane-maker would express interest by Friday, Gene Cun-ningham, vice president for sales at Boeing Defence and Space, told reporters: “Th at is certainly a possibility and we will let you know as that unfolds.” — Reuters

SIA plans blockchain tech for frequent fl yer spendingSINGAPORE: Singapore Airlines Ltd (SIA) plans to use block-chain technology to give its fre-quent fl yers a new way to spend their accumulated miles, it said yesterday. Th e company said a digital wallet app for its KrisFly-er loyalty programme would be launched in about six months and it would be signing up retail partners in the Singapore mar-ket to begin with. “I think we are the fi rst airline to do it,” chief ex-ecutive Goh Choon Phong told the Singapore Airshow Aviation Leadership Summit, a gathering of aviation leaders on the eve of Asia’s largest air show. — Reuters

‘Demand for older Airbus, Boeing models is rising’NEW DELHI/SINGAPORE: De-mand for older variants of Air-bus SE and Boeing Co jets has picked up in the past three to four months, as the industry’s pace of growth exceeded ex-pectations, one of Asia’s biggest plane leasing companies said. “Part of this is because growth in the industry is higher than what was originally expected,” Robert Martin, chief executive offi cer of BOC Aviation Ltd said in an interview at the Singa-pore Airshow. “Because of this, people want near-term aircraft deliveries.” — Bloomberg

I N BR I E F

BY K Y U N G H E E PA R K

BY N YS H K A C H A N D R A N

SINGAPORE: As more tech com-panies enter the transportation market, their capabilities with big data and other disruptive technolo-gies could spell trouble for airlines.

“A tech giant who extracts cus-tomer behaviour will be much better placed than an airline, for example, which only has information on its own operations,” said Henrik Hololei, di-rector general for mobility and trans-port at the European Commission.

Speaking at the Singapore Airshow Aviation Leadership Summit yester-

‘Tech companies have a leg up on airlines’day, a day before the Southeast Asian nation kicks off its annual air show, Hololei pointed to Amazon as an ex-ample. Th e world’s largest online re-tailer announced air cargo services for its US deliveries in 2016, raising fears that chief executive offi cer Jeff Bezos could soon compete with global logistics giants such as FedEx or DHL.

From Google’s self-driving car to Uber’s helicopter tie-up with Airbus, a number of Silicon Valley names are now concentrating re-search and investment on moving customers from point A to point B.

Tech fi rms enjoy access to huge

stores of data and boast the ability to process that information, which means they “know better what the customer wants”, Hololei said. Once a company flies a drone, it may have more ambitious plans in the

pipeline, he cautioned.Leveraging data analytics off ers

a number of benefi ts for airlines, from optimised on-the-ground op-erations such as baggage tracking to increased revenues.

“Technology is moving at a fast-er pace than we can use it,” Bah-rain’s Transport and Telecommu-nications Minister Kamal Ahmed Mohammed said at the summit. “Airline operators will be forced to invest in technology.” — CNBC

For more, visit www.cnbc.com

SINGAPORE: Beijing inched one step closer to taking the crown for the world’s busiest airport.

As the ranks of the Chinese mid-dle class swell and more people take to the skies, passenger traffi c at Bei-jing’s international airport rose to a new record of 95.8 million last year.

Th is increase at the world’s sec-ond-busiest air hub — at least the

Beijing inches closer to becoming the world’s busiest airportfi fth straight year of gains — has al-lowed Beijing Capital International Airport to narrow the gap with top placed Hartsfi eld-Jackson Atlanta International Airport, whose pas-senger numbers fell in 2017.

China is forecast to overtake the US as the world’s biggest air-travel market as soon as 2022. To cope with the surge in fl iers, Beijing is building a US$12.9 billion (RM50.31 billion) mega airport in a southern suburb

that’s scheduled to open next year. It would accommodate as many as 100 million passengers annually, with the existing and new airports likely sharing 170 million travellers a year by 2025, according to offi cial estimates.

Th e new airport has been desig-nated by authorities as the hub for members of the SkyTeam alliance, a global group of airlines that includes China Eastern Airlines Corp and Chi-na Southern Airlines Co. — Bloomberg

LONDON: Heathrow terminals should be run by companies other than the airport opera-tor, the owner of British Air-ways said yesterday, continuing its long-standing call for lower costs at Europe’s busiest airport.

IAG, which also owns Iberia, Aer Lingus and other carriers, said in a submission to Brit-ain’s CAA aviation regulator that bringing in third parties such as airlines themselves to run parts of Heathrow would create competition and keep down costs.

In October 2016 Britain backed an expansion of the London hub airport that will cost more than £14 billion. Th e green light followed decades of government indecision, but air-lines including British Airways want the cost of a new runway to be minimised to keep a lid on their fares.

British Airways is Heathrow’s biggest airline customer, ac-counting for more than 50% of its take-off and landing slots, and IAG has previously said it would look to expand elsewhere if a new runway at Heathrow resulted in higher fees.

A 10-week public consulta-tion on Heathrow’s expansion is under way, allowing for views on a plan that has generated fi erce debate over both its cost and the impact on air quality and noise levels in the local community.

IAG chief executive offi cer Willie Walsh said in a statement yesterday that the government should ensure the CAA is able to introduce competition to the running of the airport.

“Most major US airports have terminals owned or leased by airlines and there are Eu-ropean examples at Frankfurt and Munich airports. Th ere’s absolutely no reason why this cannot happen at Heathrow,” he said.

Heathrow dismissed the idea. — Reuters

‘Heathrow terminals should be opened up to competition’

SINGAPORE: Th e “skyrocketing” costs of expanding airport infra-structure must be controlled to keep fl ight tickets aff ordable, the boss of airline industry group Iata warned yesterday.

Alexandre de Juniac called for more modest developments to keep construction costs down and avoid landing customers with higher pric-es which would hit demand.

De Juniac cited the proposed £14 billion (RM77.08 billion) cost of a third runway at London’s Heathrow Airport and the construction of a fi fth terminal at Changi Airport in

Singapore as prime examples of vastly expensive projects.

“Th e cost of infrastructure is sky-rocketing,” he told reporters ahead of the Singapore Airshow this week.

“When we look at the numbers of Heathrow for the third runway, we are very, very, very worried. Even the numbers for T5 (fi fth terminal) in Singapore are very high,” he add-ed, without disclosing a fi gure for Changi Airport’s expansion.

Th e city state’s plans for its hub airport include a new development due to open next year featuring a 131 feet (39.93m)-high indoor waterfall,

and a fi fth terminal slated for 2030.“We would like for instance to

avoid big projects in which we see overruns because the architecture is fantastic, wonderful but it’s very costly ... we have to be more mod-est,” de Juniac said without naming any airport.

Airport construction costs are rising to levels which are too much for airlines to bear, he added.

Iata is working with authorities at Heathrow and Changi to manage costs and called on governments to involve airlines from the beginning of projects. — AFP

Iata warns of rising airport expansion costsDe Juniac: Th ey must be controlled to keep fl ight tickets aff ordable

BY V I C TO R I A B RYA N

1 8 W O R L D TUESDAY FEBRUARY 6, 2018 • THEEDGE FINANCIAL DAILY

Thailand expects 300,000 China tourists during Lunar New Year BANGKOK: Th ailand’s tourism body expects 300,000 visitors from China during the Lunar New Year holidays, a nearly 18% rise from a year ago. During the same holidays in 2017, the number of visitors from China was hit by a Th ai government crackdown on budget tourism and the mourning period for the country’s late king. Tourism accounts for about 12% of gross domestic product in Southeast Asia’s second-largest economy, making it one of the most im-portant drivers of growth. Th e biggest number of foreign vis-itors comes from China. Chi-nese tourists during the Lunar New Year period, which this year begins on Feb 15 and lasts until Feb 21, will “generate about eight billion baht (RM1.11 billion) in revenue”, Santi Chudintra, a dep-uty governor at the Tourism Au-thority of Th ailand, told reporters yesterday. — Reuters

‘Russia says has measures it can take against US’ MOSCOW: Russia still has coun-termeasures it can take against the US in a tit-for-tat sanction battle, but is keeping its pow-der dry for now, Deputy For-eign Minister Sergei Ryabkov told the Izvestia newspaper in an interview published yester-day. With relations strained over Syria, Ukraine and US allegations that Russia interfered in the 2016 US presidential election, some-thing Moscow denies, ties be-tween the two countries have slid to a post-Cold War low. Th e US Treasury Department last week named 210 people, including 96 “oligarchs” with wealth of US$1 billion (RM3.9 billion) or more, on a list of people deemed to be close to the Kremlin as part of a sanction package signed into law in August last year. Treas-ury Secretary Steven Mnuchin said that unspecifi ed sanctions would “come out” of the report. — Reuters

Japan army helicopter crashes in residential area TOKYO: A Japanese military helicopter crashed yesterday in a residential area in the south-west of the country, setting at least one home on fi re, local offi cials said. Defence Minister Itsunori Onodera confi rmed a helicopter had gone down in Japan’s Saga region. A defence ministry spokesman told AFP there were two people on board the Apache helicopter when it crashed. — AFP

New victims make South Korean fi re worst in 15 years SEOUL: The death toll from a hospital fi re in South Korea rose to 43 yesterday, offi cials said, making it the country’s deadliest blaze in 15 years. A to-tal of 149 people were injured. Fire ripped through the Sejong hospital in Miryang on Jan 26, sending toxic fumes sweeping through the six-storey build-ing. — AFP

I N BR I E FTrump cautioned against fi ring DoJ, FBI chiefs Democrats warn such act over the Russia probe could spark dangerous ‘confrontation’

LONDON: Economists have been puzzled in recent years by the so-called “productivity paradox”, the fact that the dig-ital revolution of the past four decades hasn’t resulted in big gains in output per worker as happened with earlier technolog-ical upheaval. Many developed economies have actually seen productivity stagnate or decline.

A survey from Microsoft Corp is bolstering one theo-ry about this disconnect. In a poll of 20,000 European work-ers released yesterday, Micro-soft acknowledges new digital technology can, in some cir-cumstances, make businesses less productive.

Microsoft identifi es a num-ber of possible reasons for this negative impact, including: workers who are too distract-ed by a constant infl ux of emails, Slack messages, Trello notifi ca-tions, texts and Tweets — not to mention viral cat videos — to concentrate for sustained periods; workers who aren’t properly trained to use the new technology eff ectively; tech that isn’t adequately supported by the business, forcing workers to lose time because “the comput-ers are down”, and workers who suff er burnout because, with mobile devices and at-home-working, they feel tethered to the job around-the-clock.

Microsoft says that tech’s im-pact depends largely on the cul-ture of the business. Th ose with a “strong digital culture” saw productivity gains from tech-nology, while those with what Microsoft termed a “weak digital culture” didn’t. — Bloomberg

Tech impact on productivity depends on company culture

BY B R I A N K N O W LTO N

BY J E R E MY K A H N

WASHINGTON: Democrats on Sun-day cautioned US President Donald Trump that fi ring top law enforce-ment offi cials over the investigation into his campaign’s links to Russia could spark a dangerous “confron-tation”, as Republican lawmakers broke ranks to say the probe should go on unhindered.

The warnings came two days after the Republican-led House in-telligence committee released a de-classifi ed memo that claims Dem-ocrat-funded research prompted

the FBI to spy on a former Trump campaign aide, Carter Page.

Democrats stoutly resisted the memo’s release, saying it was “de-liberately misleading” and possibly intended to lay the groundwork for Trump to fi re senior offi cials and subvert the Russia election med-dling investigation led by Robert Mueller.

In a sign of an emerging split in the president’s party, four Repub-lican members of the intelligence committee — Representatives Trey Gowdy, Chris Stewart, Will Hurd and Brad Wenstrup — said on Sun-

day that the memo should not be allowed to undermine Mueller’s investigation.

Dick Durbin, the number two Senate Democrat, warned on Sun-day that any move by Trump against senior law enforcement offi cials involved in the inquiry could have grave consequences.

Durbin contested the sugges-tion that the FBI’s application to a special court for authority to surveil Page failed to note that the request was based partly on a dossier fund-ed by Democrats.

The senior Democrat on the

intelligence committee, Repre-sentative Adam Schiff, insisted on Sunday that “the court was no-tifi ed there was a political actor involved”.

Schiff has said he wants a com-mittee vote soon to release his own secret memo responding to the Republicans’ document.

Trump tweeted on Saturday that the memo “vindicated” his insist-ence that there was “no collusion and there was no obstruction”. He said leaders of the FBI and Depart-ment of Justice (DoJ) had acted in a “disgraceful” fashion. — AFP

WASHINGTON: Advertisers tried to play up American values and not fumble the ball during Sunday’s Super Bowl, yet one waded into controversy by using the voice of the late Martin Luther King (MLK).

In the television advertising event, most spots steered clear of a politically divisive environment.

A surprise came with the words of slain civil rights leader King in an ad for Dodge Ram, a unit of Fiat Chrysler Automobiles, where he is heard saying: “We recognise that he who is greatest among you shall be the servant.”

Th e “Built to Serve” ad draw-ing on a sermon by King sought to highlight community service but it sparked an outcry over the use of King’s legacy.

“You took a very powerful mo-ment in time and you tried to re-appropriate that for the message of selling cars,” said Derek Rucker, a marketing professor at Northwest-ern University who works on a Su-per Bowl ad rating project and who called the ad “a mistake”.

On Twitter, one user said: “Who knew MLK was talking about a Dodge Ram? Here I thought he

was talking about equality.”Historian Michael Beschloss

tweeted: “Martin Luther King also advised people not to spend too much money on their cars.”

Th e King Center said in a tweet that neither the centre nor King’s daughter Bernice had approved the use of the sermon for commercial purposes.

But a statement by the manager of King’s estate, Eric Tidwell, said the use was authorised to recog-nise the “Ram Nation volunteers and their efforts” in public ser-vice. — AFP

Play for values, a contentious MLK message in Super Bowl ads

BRAVEST EAGLES IN SOUTH KOREA ... Republic of Korea Air Force Black Eagles Aerobatics Team T-50 aircraft performing a manoeuvre during a preview of their aerial display at the Singapore Airshow on Sunday. Black Eagles are coming back to Singapore again to take your breath away with fantastic and thrilling performance, which is the application of the real-time warfare manoeuvres. The team operates eight indigenous supersonic trainer jets developed by South Korea. The jet’s code name is Golden Eagle, the symbol of the bravest eagles that inhabit in Korea. The team recently participated in the Langkawi International Maritime and Aerospace Exhibition of Malaysia in 2017, receiving enthusiastic cheers and applause from the crowd. Photo by Reuters

W O R L D 1 9TUESDAY FEBRUARY 6, 2018 • THEED G E FINANCIAL DAILY

EU negotiator in London for Brexit talks with UKBarnier and Davis discuss upcoming negotiations ahead of talks in Brussels

BY J A M E S P H E BY

LONDON: European Union (EU) chief negotiator Michel Barnier met British Prime Minister Th e-resa May in London yesterday, with tensions in her government over her Brexit strategy coming to a head.

Barnier discussed the upcom-ing negotiations with UK’s Brexit minister David Davis ahead of talks between British and EU of-fi cials in Brussels from today to Friday.

London and Brussels struck a preliminary deal on key Brexit issues in December but are yet to discuss the conditions for a post-Brexit transition period and future trade relations.

Britain has said it wants to leave the European single market and customs union and retain strong economic ties with the EU, but May has yet to bring together her divided government to produce a fi nal plan.

High-profi le pro-Brexit min-isters Boris Johnson and Michael Gove are later this week set for a cabinet meeting showdown with

Europhile ministers, led by Fi-nance Minister Philip Hammond, as they battle to shape Britain’s post-Brexit vision.

Johnson and Gove are ready to deliver an ultimatum to prevent May from backtracking on plans to fully leave the customs union, according to Th e Sunday Times.

Brexit supporters within May’s Conservative Party would be pre-pared to replace the premier with Johnson and install Gove as his deputy, with influential back-bencher Jacob Rees-Mogg drafted in as fi nance minister, the news-paper reported.

Such a move would enrage the sizeable minority of pro-EU Tory MPs, raising the spectre of another general election.

Th e internal tensions exploded into public view last week when Rees-Mogg, who is the bookmak-er’s favourite to become the next party leader, accused Hammond’s department of “fi ddling the books” in providing gloomy forecasts of Brexit’s economic impact.

Tory member of parliament (MP) and Brexit supporter Bernard Jenkin wrote in Th e Sunday Tele-

graph that May “can only command a majority in parliament on her pres-ent policy,” a thinly veiled threat that Brexiteers would be prepared to bring

down her vulnerable government.Pro-EU Interior Minister Amber

Rudd hit back on Sunday, telling BBC’s Andrew Marr: “I have a surprise for

the Brexiteers, which is the commit-tee that meets in order to help make these decisions is more united than they think.” — AFP

SINGAPORE: Singapore’s govern-ment is seeking to amend a law that led to shortened sentences for church leaders convicted of misusing millions of dollars, in a case that has gripped the city-state where there is little tolerance for corruption.

Th is follows a decision last week by a Singapore court to reject a prosecution appeal to reinstate longer jail sentences for the church leaders, after the High Court re-duced their sentences in April 2017.

Th e government believes the sentences are “too low” for those,

including City Harvest Church’s co-founder Kong Hee, convict-ed of using funds to support his wife’s pop-singing career, Minister for Law Kasiviswanathan Shan-mugam said.

Kong, 53, was originally sen-tenced to eight years in jail in Oc-tober 2015 for criminal breach of trust and falsifi cation of accounts. Th e High Court later reduced that sentence to three-and-a-half years.

“It is now up to parliament to amend the law, and that we should do soon,” Shanmugam said in par-liament yesterday. — Reuters

S’pore seeks to amend law after church case

BRUSSELS: Belgium was on high alert yesterday as the last surviv-ing suspect in the 2015 Paris at-tacks, Salah Abdeslam, started his four-day trial here over a shootout that led to his capture.

Abdeslam, 28, left a jail near the French capital early yesterday, together with a convoy of tactical police vehicles. Hundreds of Bel-gian security forces will protect

Paris attacks suspect tried

BY L A C H L A N C A R M I C H A E L the court building.Abdeslam, a Belgian-born

French national of Moroccan de-scent, is charged with “attempting to murder several police offi cers in a terrorist context” and of “car-rying prohibited weapons in a terrorist context”.

The charges concern a gun battle in the Belgian capital on March 15, 2016, four months after the Paris attacks, which led to his capture days later. — AFP

2 0 F E AT U R E TUESDAY FEBRUARY 6, 2018 • THEEDGE FINANCIAL DAILY

Why the cryptocurrency world is watching South KoreaTh e prospect of a clampdown has captured the attention of traders worldwide

BY K Y U N G J I C H O

Many South Kore-ans are obsessed with cryptocur-re n c i e s. T h e country’s law-makers? Not so

much. From the prime minister down, officials have warned that the speculative mania surrounding bitcoin and its peers is dangerous. Demand for the virtual currency was so extreme at one point in January that it lifted prices in South Korea 50% higher than those in the US. The premium has since receded, but policymakers are still worried. Given the nation’s outsized role in the crypto world, the prospect of a clampdown has captured the atten-tion of traders worldwide.

1. Why are South Koreans so keen on cryptocurrencies? South Korea’s individual investors have long had an affinity for su-percharged fi nancial wagers, said Lee Tai-ki, senior research fellow

BY A D A M M I N T E R

IN China, the cars are becom-ing smarter. Last week, Alibaba Group Holding Ltd and Foxconn Technology Co Ltd led a US$348 million (RM1.36 billion) fundrais-ing round for Guangzhou Xiao-peng Motors Technology Co Ltd, a three-year-old start-up devel-oping Internet-connected, elec-tric cars. The investment might seem an odd one for online re-tailer Alibaba. But it was part of a larger vision for transportation that includes tools to design and run entire cities. Indeed, with backing from the Chinese govern-ment, Alibaba could soon seize the lead over European and Amer-ican competitors in the race to de-fine the future of transportation.

In many respects, the cut-ting-edge self-driving systems found in vehicles like the Tesla Model X already belong to the past. Their arrays of cameras, ra-dars and computing power can manoeuvre a vehicle into a tight parking space, safely change lanes on the highway and even respond to a summons by the driver. But, as remarkable as these capabili-ties are, they tend to rely on line-of-sight connections. That works great when sensors can clearly see a stop light or stop sign — less so, say, in foggy conditions, or if someone has deliberately changed the sign in order to spoof the on-board computer.

China could steer self-driving carsOne way around that problem

is to enable stop lights to “talk” to cars via Wi-Fi. So long as the Wi-Fi signal is strong, the car not only knows when to slow down; in theory, it could obtain that infor-mation long before arriving at an intersection, and adjust its route for maximum time and fuel effi-ciency. If other cars had the same capability, then that “smart” stop light could direct traffic better than a human, let alone a tradi-tional light.

This is not a new idea. Propo-nents of autonomous cars have long imagined linking them to centralised traffic infrastructure in order to make trips more effi-cient. (If secured properly, such a system would also help counter the spoofing threat.) Experimental efforts to build such systems have begun all over the world. The US state of Ohio has outfitted a 35-mile (56.33km) stretch of highway with sensors and fibre optics to support autonomous vehicles. South Korea is planning US$64 billion in smart highways.

Not surprisingly, China’s plans are the most ambitious. The Chi-nese government has named au-tonomous cars one of the key sec-tors in its “Made in China 2025” initiative, meant to transform Chi-na into a world-beating manu-facturer of high-end, innovative products. Official policies en-courage collaboration between Chinese technology companies

involved in various aspects of transportation, from the cars themselves to satellite navigation.

Alibaba is among the biggest of those firms. The company has developed something it calls, om-inously, “City Brain” — an artifi-cial-intelligence hub that utilises big data to “automatically deploy public resources and amend de-fects in urban operations”. In less-Orwellian terms, it is “smart city” software designed to manage how public resources like water and electricity are monitored and distributed.

The system is operational in the company’s hometown of Hang-zhou, where it is focused on traffic

management and — according to Alibaba — has reduced travel times by 10% since its launch in 2016. Since then, it has been de-ployed in at least two additional Chinese cities and, later this year, will be rolled out in its first foreign location, Kuala Lumpur.

So far, City Brain only uses re-al-time video of traffic patterns to adjust stop lights. If it can be linked to cars, though, it could change those traffic patterns themselves. Alibaba already has an automotive operating system that allows for two-way commu-nication with technology such as City Brain. Presumably, Xiao-peng’s new electric cars will use it.

Alibaba and its Chinese peers have other advantages over Eu-ropean and American competi-tors. First, data privacy is much less of a concern in China and Southeast Asia than it is in oth-er markets, making it easier and less controversial to collect, store and use data on how citizens move around cities. Second, the Chinese government is clearly committed to helping Chinese companies lead the world in such technology. At a minimum, it is unlikely to allow foreign rivals to engage in map-making and comprehensive data collection on Chinese soil.

Third, China is already scaling up. City Brain operates in cities housing nearly 35 million people, while China is poised to become the biggest autonomous-car mar-ket in the world. Other compa-nies — and global standards — will have to adjust to whatever developments take place on the mainland.

Of course, there is no guar-antee that Alibaba will win this race; some of its Chinese part-ners are working on competing systems. Meanwhile, foreign companies will benefit from a growing wariness among Western governments and citizens about sharing data with Chinese com-panies linked to the government. For the moment, though, China is moving into the fast lane. — Bloomberg

at the Korea Institute of Finance. Bitcoin’s stateless status appeals to some citizens who have grown wary of keeping their savings in a country that shares a border with Kim Jong-un’s North Korea, according to Kwak Keumjoo, professor of psychology at Seoul National University. Whatev-er the reason, even the central bank has had to ask staff to refrain from trading cryptocurrencies, particu-larly during work hours.

2. How big is South Korea as a crypto-trading centre? It punches above its weight. Among traditional currencies, only the US dollar was used more than the Korean won to trade the major cryptocurrencies as of Jan 11. Th e won accounted for more than 10% of trades in bitcoin for much of the second half of 2017. It was the No 1 currency for transactions in Ethereum — the second-largest digital token by market value — until late in the year. Th e won’s role has declined recently, however, as regulators began to talk tough.

3. What is the South Korean government doing? After banning initial coin offer-ings in September, regulators have been mulling everything from shutting down local cryptocurren-cy exchanges to allowing them to operate under increased super-vision. While a broader policy is being formulated, authorities are taking measures to prevent money laundering and other il-legal activities. As of Jan 30, the country had outlawed deposits into anonymous virtual accounts at banks and told lenders to re-port suspicious traders, including those who deposit or withdraw 10 million won (RM35,830) or more a day from cryptocurrency venues. Policymakers have also banned minors, foreigners and financial institutions from do-mestic exchanges.

4. How have cryptocurrency markets reacted? With concern. Investors’ big wor-ry is a closure of virtual-currency

exchanges. That would make it harder for South Koreans to buy, curbing a key source of demand. Bitcoin dropped as much as 12% on Jan 11 after the nation’s justice minister reiterated his proposal for an exchange ban. Th e market recovered some of its losses after a spokesperson for President Moon Jae-in said the proposal was one among several and that nothing had been fi nalised.

5. What are South Korean offi cials worried about? Mainly money laundering, tax evasion and excessive specula-tion. Prime Minister Lee Nak-yon has even gone as far as to say that cryptocurrencies might corrupt the nation’s youth.

6. Won’t investors get around restrictions?Probably. Even if lawmakers push forward with an exchange ban, local traders are likely to find ways to keep buying cryptocur-rencies, said Mike Kayamori,

head of Tokyo-based exchange Quoine, which counts South Koreans among its customers. “There are always underground exchanges” and over-the-coun-ter platforms, he said. “They’ll probably convert their money into bitcoin there, and then start trading offshore.”

7. What’s next?It is unclear whether the justice ministry’s proposal to shut down the exchanges will be approved by other government ministries and parliament. Lawmakers may balk at the proposal given the groundswell of public opposition: A petition opposing the meas-ure on the president’s website has attracted more than 200,000 names. The country’s Office for Government Policy Coordina-tion has said it will decide on whether to pursue a bill to ban cryptocurrency venues only af-ter “sufficient discussions and opinion coordination” across departments. — Bloomberg

22 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 FEBRUARY 6, 2018 • THEEDGE FINANCIAL DAILY

EVERY DOG HAS ITS YEAR

PersonalASSISTANTC O M P I L E D BY C L A R I EC E L EO N G

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

WATCH Darkest Hour, a biographical portrayal of Winston Churchill during his fi rst term as the prime minister of Britain. With the Second World War brewing and Hitler steadily turning its focus towards Britain, Churchill replaces Neville Chamberlain as the prime minister. Soon after his appointment to offi ce, he is faced with the dilemma of juggling his distrust of Nazi Germany against widespread political push for a negotiation for peace instead. Despite this rocky beginning, Churchill eventually leads the British to victory in the defi ance against the Germans, becoming one of the most infl uential Britons of all time. Darkest Hour is showing in theatres now. For details on show times and ticketing, visit www.gsc.com.my.

IT’S just 10 days to the big day now, so it’s high time to start sending out your gift hampers. Look no further than Royce’s Chinese New Year Gift Collection, which features four diff er-ent hampers fi lled with everyone’s favourite chocolatey treats. From chocolate wafers to chocolate cookies to good old chocolate bars, Royce’s festive hampers will prove a sweet indulgence for your dearest friends and family during the celebrations. The hampers range in price from RM188 to RM488. To place your purchases online, or for more details, visit www.royce.com.my.

R E A D T h o m a s Pierce’s latest nov-el, The Afterlives. At age thirty, Jim Byrd suff ers a cardiac ar-rest, clinically dying for a few minutes. After being success-fully revived, Jim is bewildered by the lack of heavenly lights and singing angels when he died, thus becoming pre-occupied with the question of what comes after death. Reuniting by chance with his now-widowed high school sweetheart, the duo begin a search to uncover the mystery of what lies beyond mortality. Get your copy of The Afterlives in paperback for RM88.14 at www.kinokuniya.com.my.

The bond between humans and dogs is said to date back up to thirty thousand years, and no wonder. Ever since their early days of domestication, these loveable canines have only

continued to prove their worth as man’s best friend, be it as police dogs, guide dogs, sled dogs, herding dogs or simply as furry companions around the house.

With the Year of the Dog just around the corner, canophilists have even more cause to rejoice this Chinese New Year. In celebration of this season, Tan Ee Lene, gallerist of Th e Art Gallery Penang and an avid dog lover herself, presents its latest exhibition.

“Cultural or artistic portrayals of dogs extend way back to the Middle Ages and the Renaissance, when they were com-monly portrayed in hunting scenes. Th ey symbolised alertness, courage, love and loyalty. As dogs became more domesti-cated, they began serving as companions, often painted sitting next to their owner or on a lady’s lap,” said Tan.

Th is isn’t the fi rst exhibition of its kind for Th e Art Gallery Penang. Year of the Dog 2018 is a revival of the annual Chi-nese zodiac-themed exhibitions from the gallery’s earliest years, the last of which was held in 1994 — incidentally

Art exhibition Year of the Dog 2018 celebrates the Chinese zodiac’s incoming star

BY C L A R I EC E L EO N G

also the Year of the Dog. Th e 2018 edition showcases works by

13 Malaysian artists and one Chinese art-ist. When the idea to organise this exhibi-tion fi rst sprouted, Tan’s fi rst approached Choo Beng Teong from Penang and Choh Kiat Siong from Kedah. Although the former usually drew birds, she recalled having also seen works depicting dogs.

“I looked for artists who had experi-ence drawing animals and who are dog lovers themselves,” said Tan, “With the exception of six paintings, most of the artworks were created especially for this exhibition.”

Returning is artist Wang Xiao Ling from Chengdu, China. Having also been featured in the 1994 exhibition, this time Wang presents his ink paintings of the Shih Tzu, a breed nicknamed “xi shi” in China, after one of ancient Chinese his-tory’s greatest beauties. Another notable participant to look out for is wildlife artist Nasir Nadzir.

In true Malaysian fashion, the exhibi-tion embraces diversity, featuring an ar-ray of dog breeds across the artworks. Th e classic favourites, namely the Chihuahua,

beagle and golden retriever, are clearly the stars of the show, dominating rough-ly a third of the display between them. One piece that highlights the diversity of the featured dogs is Alex Leong Yim Kuan’s 9 Doggies, featuring nine wide-eyed puppies of diff erent breeds in an arrangement somewhat similar to those of family portraits.

Variety is also seen across the styles and materials used by the artists. Besides watercolours and oil paintings, as seen in Koay Shao Peng’s Daschund and Jer-emy Lee Mun Loong’s Anticipating Re-union. Th ere are also several drawings completed with ballpoint pen, such as Ethan Ng Horng Guan’s Play With Me 01, and works of pencil on wood by Mandy Wee Yee Yong.

To Tan, the exhibition is a labour of love that goes beyond collecting artworks. She aims to highlight the cherished bond of a pet and its owner. Th is is seen particularly in Tang Yeok Khang’s Rain or Shine, de-picting the artist’s own children bonding with their poodles. “I hope that through this exhibition, people are reminded of how much joy a dog can bring into our lives,” she said. “Th ey are innocent ani-mals and deserve protection from cruelty.

“Rarely is there anything in life that is more pure and simple than a dog’s love. It is like your child, your friend, your companion and protector. It will be yours faithful and true forever,” Tan concluded.

Year of the Dog 2018 is on at Th e Art Gal-lery Penang at 368-4-8 Burma Road, Bel-lisa Row, Pulau Tikus, until Feb 25 (closed from Feb 15 to 20 for Chinese New Year). For more details, visit www. theartgal-lerypg.com.

Nasir’s Corgi in the Field, 2017, colour pencil on paper, 35 x 53 cm.

Alex Leong’s 9 Doggies, 2018, watercolour, 28 x 76 cm.

Jeremy’s Pawsitively Excited, 2018, oil on canvas, 60 x 90 cm.

Yew Souf’s A playful day, 2015, charcoal on paper, 51 x 36 cm.

live it! 23

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 FEBRUARY 6, 2018 • THEED G E FINANCIAL DAILY

TRAVEL BY B R A N D O N P R E S S E R

Things you never knew about cruises AT a time when travellers are feeling more precious than ever about “authentic ex-periences”, the cruise industry is doubling down on the exact opposite: completely manufactured fun. Leading the pack is Royal Caribbean Cruises Ltd, whose mega-ships are destinations unto themselves: Its res-taurants, casinos, Broadway-calibre mu-sicals, skating rinks, karaoke, dance clubs, and escape-the-room experiences are such strong lures, some guests don’t even bother to look up where the ship is docking.

So when the cruise line invited me to join the ranks as temporary director of its largest ship, Harmony of the Seas — which is as big as fi ve Titanics — I knew I was sign-ing up for the most manic week of my life.

As cruise director, my primary responsi-bility was seeing to the happiness of 6,322 passengers and 2,200-plus crew. Over a week, I had my hands in every department, from ship activities and entertainment to on-board revenue. From stocking the world’s biggest buff et and staving off gas-trointestinal disasters to hosting celebrity guests, everything is 10 times crazier when you’re mayor of a city that’s fl oating in the middle of the sea.

Secret cruise code wordsIt’s crucial for the staff to have code words so that passengers don’t get freaked out if something goes wrong. Th ree times during my stint, I called in a “PVI” (public vomiting incident). An “alpha” is a medical emergency, a “bravo” is a fi re, and “kilo” is a request for all personnel to report to their emergency posts, which happens in the event of, say, a necessary evacuation.

Drunk guests can’t outsmart the bartendersOnly 8% to 10% of passengers purchase unlimited booze packages. Intoxicated passengers can have their SeaPasses (on-board credit cards) temporarily disabled, barring them from being served at any of the ship’s bars.

Cruise staff ers regularly engage in subliminal messagingTh e fi rst thing guests likely see in their cabins is a gleeful jingle about handwash-ing looping on their television screen. It’s

catchy as a Katy Perry song and meant to steer you towards Purel pumps around the ship, each carefully positioned at high-traf-fi c junctions by senior staff . Along with the emcees’ banter at large group events — “Have you washed your hands 50 times today? I have!” — the jingle is part of the crew’s unwavering eff ort to stave off a po-tential Norovirus outbreak.

There is a cruise ship burn book Dru Pavlov, veteran cruise director and my mentor during this Royal Caribbean stint, keeps a hallowed book of stupid comments and questions. Passed down from one cruise director to the next as a right of passage, it makes great vamping material for event emcees. Th e book Pavlov bequeathed to me included such doozies as “Where’s the elevator to get to the front of the ship?” to “Is the toilet water drinkable?”

All cruise guests basically eat the same thingsFreezers on board Harmony of the Seas are the size of New York studio apartments

— and stocking them is an art form. Th e inventory team receives enough ingredi-ents for 20 diff erent dining venues, plus servings for the 2,000-member crew. (Th e total cost, including such other consuma-bles as paper towels, is about US$800,000 [RM3.12 million].)

Luckily, passengers’ eating habits are fairly predictable. On the average week-long cruise, Royal Caribbean estimates its guests will be 80% American, consum-ing around 3,000 bottles of wine, 7,000 pounds of chicken breast, and almost 100,000 eggs.

Every ship has an OPPNothing is scarier to cruisers than a Nor-ovirus outbreak — which ship doctor Ivan De La Rosa says is almost always caused by a passenger who has brought the illness aboard, rather than poor sanitary conditions on the ship. The US health de-partment requires that every ship main-tain a detailed outbreak prevention plan (OPP). On Harmony, regular sanitary conditions are called OPP1, and they

get ratcheted up to OPP2 when there’s six passengers reported ill in six hours.

Crew members are trained to deal with handsy passengersSleeping with a passenger will get you “chicken or beef”, as Pavlov puts it — “Th at’s what a flight attendant asks you when you’re put on the fi rst fl ight home.” Th e zero-tolerance policy seems to be an in-dustry-wide standard — at Royal Carib-bean, there’s even staff training on how to defuse an escalating situation. More often than not, it’s a vacationing guest trying to seduce a crew member. “Whenever I take photos with people, I always give a thumbs up,” notes Pavlov. “My hands are visible, so no one can claim any inappro-priate behaviour.”

… but the staff quarters are a genuine love boat With 2,200 crew, the staff quarters are a village unto themselves, with cabins, bars, a mess hall, shop and gym set across decks 0, 1, 2, 3, and 12. Among the crew, dating is not just allowed but tacitly encouraged — they live on-board through the entirety of their contract without days off , often 10 months a year.

Coupling up on the ship is like dating in dog years: Th ings move about seven times faster. Several crew members re-counted instances when they put in a request to share a cabin with their new boyfriend after only a month of dating, or dropped the “I love you” bomb within the fi rst week of meeting someone. And since relationships often end once one person leaves the ship, cruise couples tend to become “lifers”.

The ship has geniesAlthough bargain-basement discounts draw plenty of travellers to big-ship cruis-ing, procuring Royal Caribbean’s VIP sta-tus can off er a true luxury experience. Th e easiest way to get it is by booking into the Royal Suites Star Class, which includes butler-style service from a coterie of “Royal Genies” who are trained to cater to your every whim, but with limited resources at sea, this can require real creativity. — Bloomberg

There is secret cruise code language.

Drunk guests can’t outsmart the on-board bartenders.

Crew members are trained to deal with handsy passengers.

ILLUSTRATIONS BY ZOHAR LAZAR

2 4 S P O RT S TUESDAY FEBRUARY 6, 2018 • THEEDGE FINANCIAL DAILY

INCHEON, South Korea: South Korean fans chanting “We are one” and wearing shirts with the unifi cation fl ag emblazoned on the front packed into a freezing ice hockey arena on Sunday to cheer on the joint Korean wom-en’s team in a tune-up for this month’s Winter Olympics.

North and South Korea agreed last month to fi eld a combined women’s ice hockey team and march together under one fl ag in Pyeongchang after a new round of talks amid a thaw in cross-bor-der relations.

With some 3,000 fans packed into Seonhak International Ice Rink in Incheon, the Koreans, who had only practiced together for a week, lost 3-1 to Sweden.

While the result was a disap-pointment, hopes are high that the unifi ed team could help im-prove ties.

“I am excited,” said Park Che-ol-hyun, who came to watch the game with his wife and son.

“Even though the nuclear is-sue may not be resolved imme-diately, it will be good for the longer term if the two Koreas get closer. Otherwise, there is no way to resolve it.”

While the reaction to the North’s decision to participate in the Games was met warmly in the South, the decision to form a combined women’s ice hockey team sparked a public backlash.

Critics said adding North players to the South’s roster at the last minute would mean missed opportunities for home players and could hurt team chemistry. — Reuters

Fans fl ock to cheer joint Korean ice hockey team

No Pyeongchang invite for CAS-cleared Russians — IOCTh e court has yet to provide a ‘full reasoning’ for overturning the bans

BY P E T E R R U T H E R FO R D

BY P E T E R S T E B B I N G S

BY H Y U N J O O J I N

BY F R A N K P I N G U E

Japan protests unifi ed Korea Olympic fl agTOKYO: Japan said yesterday it had lodged a protest with South Korea over the “unacceptable” use of a unifi ed Korean Olympic fl ag that features a set of dis-puted islands. Th e two Koreas have agreed to march togeth-er under the unification flag at the Games’ opening cere-mony on Friday, and to form a combined women’s ice hockey team. Th e fl ag shows a blue dot indicating the islands in the Sea of Japan controlled by South Korea but claimed by Tokyo. Th ey are known as “Dokdo” in Korean and “Takeshima” in Jap-anese. “Th e fl ag is unaccept-able, based on our stance on our sovereignty of Takeshima,” Chief Cabinet Secretary Yoshi-hide Suga told reporters, add-ing the incident with just days until the start of the Games in Pyeongchang was “extremely regrettable. “We lodged a protest strongly insisting on our stance through diplomatic channels to South Korea,” he said, add-ing that Tokyo will continue to urge Seoul to deal with the case “appropriately”. — AFP

Furious fi nish fi res Fowler to front in PhoenixLOS ANGELES: Rickie Fowl-er’s storming finish vaulted him to the top of the Waste Management Phoenix Open leaderboard on Saturday af-ter the American signed for a four-under 67 and a one-shot lead heading into the final round. Fowler, who began the day tied for the lead, made a slow start and was one-over through seven holes but roared back into contention with fi ve birdies thereafter, including three straight from the 16th at TPC Scottsdale in Arizona. “It was a grind,” Fowler told report-ers of his round. “Just a little off in certain areas. Tried to piece things together.” — Reuters

Liverpool’s Van Dijk accuses Kane of divingLONDON: Liverpool defender Virgil Van Dijk accused Tot-tenham Hotspur striker Harry Kane of diving and Eric Lamela of exaggerating to get a penalty on Sunday’s pulsating 2-2 Pre-mier League draw at Anfi eld. Th e visitors were awarded two penalties, one of which Kane scored with virtually the fi nal kick of the game to earn his side a point. Kane missed the other spot kick after Loris Karius was adjudged to have brought him down. — Reuters

Froome to begin 2018 season at Ruta del Sol LONDON: Chris Froome will begin his 2018 season at this month’s Ruta del Sol, Team Sky announced yesterday, with the British rider “confi dent” there will be progress on a probe into an adverse doping test. Froome will be part of Team Sky’s line-up for the fi ve-day stage race in Andalusia, southern Spain, which runs from Feb 14 to Feb 18. — AFP

I N BR I E F

PYEONGCHANG: Th e Internation-al Olympic Committee (IOC) said yesterday that 15 Russian athletes and coaches who had their lifetime bans overturned by world sport’s highest tribunal will not be invited to this month’s Pyeongchang Win-ter Games.

Th e Court of Arbitration for Sport (CAS) said last week that there was “insuffi cient evidence” of anti-dop-ing violations against 28 Russian athletes, and while it confirmed 11 others had committed doping

PYEONGCHANG: Freezing weather at the Winter Olympics threatens to force some athletes and staff to pull out of Friday’s opening ceremony as Pyeongchang shivers in temperatures plunging to -20 °C.

Forget Russian doping, North Ko-rea and US speed queen Lindsey Vonn: Much of the talk among those arriving in South Korea this week is the brutal cold.

The Pyeongchang Games are shaping up to be one of the coldest Olympics ever.

Italy is among the countries fear-

MINNEAPOLIS: For a city that pro-duced one of Hollywood’s ultimate underdog stories, the Philadelphia Eagles delivered an equally inspiring script by upsetting the New England Patriots on Sunday for their fi rst Su-per Bowl title.

The Eagles were underdogs throughout the NFL play-off s with few onlookers outside the City of Brotherly Love expected them to beat the defending Super Bowl cham-pions.

But Philadelphia, who embraced their lowly status with some players wearing dog masks throughout the play-off s, stunned New England with a 41-33 victory to cap a remarkable turnaround after finishing last in their division a year ago.

“We’ve been doubted since Day One,” said Eagles tight end Zach Ertz, who caught what proved to be the game-winning touchdown. “This team, no one picked us. We come out here and we’re World Champions.”

off ences it cut their life bans to the upcoming Games in South Korea.

Th e IOC has banned Russia from Pyeongchang over “systematic ma-nipulation” of the anti-doping sys-tem in Sochi but left the door open to athletes with no history of doping to compete as neutrals, offi cially known as “Olympic Athletes from Russia”.

After the CAS decision, Russia’s Olympic Committee requested that 13 active athletes and two who had become coaches be allowed to par-ticipate in the Feb 9 to Feb 25 Games.

However, the IOC said in a state-

ment that its Invitation Review Panel had “unanimously recommended that the IOC not extend an invita-tion” to the 15.

It noted that CAS had yet to pro-vide a “full reasoning” for overturn-ing the bans and that there was some evidence about the athletes that had not been available to the Oswald Commission, which conducted the investigation into Russian doping.

“Following the detailed analysis conducted by the panel, its members observed that there were additional elements and/or evidence, which could not be considered by the IOC

Oswald Commission because it was not available to it, that raised sus-picion about the integrity of these athletes,” it said.

IOC president Th omas Bach said on Sunday the CAS decision was “extremely disappointing and sur-prising” and had called for inter-nal structural change at the court to allow it to “better manage the quality and the consistency of its jurisdiction”.

Yesterday, CAS president John Coates said it had taken note of Bach’s concerns and they would be examined. — Reuters

Brrr! Brutal cold raises concerns over Olympics opening ceremony

ing the dangerous eff ects of the big chill and is advising its competitors to ensure they are moving at all times during the traditional curtain-raiser on Friday.

Doctors with the Italian team have ordered coaches and staff with heart problems or diabetes to keep in the warm instead — the stadium for the opening ceremony is open to the el-ements with no roof.

New Zealand is taking no chances and Peter Wardell, its chef de mis-sion, admitted yesterday: “We are a little trepidatious about the opening ceremony, which is going to be at night, and how we are all going to

keep warm if it’s going to be these sorts of temperatures.

“They tell us it’s likely to be -8 °C, -10 °C, which is actually quite warm in comparison [with yester-day]. But it’s still a big ask to have athletes standing outside and then sitting for at least an hour and a half in the cold.”

Th e mercury dipped to -13 °C yes-terday early evening and was set to go as low as -20 °C into early today.

Winter athletes are used to being exposed to the cold, but even some of them say they are feeling the eff ects with the vicious wind making for a punishing climate. — AFP

Eagles stun Patriots for fi rst Super Bowl title

Th e victory set off a wild celebra-tion among the team’s many green-clad supporters who made the trek to chilly Minneapolis, while uplifting music from Rocky blared through the speakers above a fi eld covered in silver and green confetti.

Two years after contemplating retirement, Eagles quarterback Foles was on top of the football world af-ter leading his team to victory on Sunday, even earning Most Valua-ble Player honours in the process. — Reuters

Foles celebrating with the Vince Lombardi Trophy after winning Super Bowl LII at the US Bank Stadium in Minneapolis, Minnesota on Sunday. Photo by Reuters

2 5


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 1,853.07 -17.41 -0.93

KLSE INDUSTRIAL 3,332.56 -54.85 -1.62

CONSUMER PRODUCT 667.78 0.05 0.01

INDUSTRIAL PRODUCT 179.30 -2.41 -1.33

CONSTRUCTION 311.48 -6.61 -2.08

TRADE & SERVICES 238.61 -3.03 -1.25

KLSE FINANCIAL 17,753.69 -225.89 -1.26

KLSE PROPERTY 1,200.23 -9.71 -0.80

KLSE PLANTATION 7,983.00 -73.40 -0.91

KLSE MINING 899.73 -8.11 -0.89

INDICES CLOSE +/- %CHGTECHNOLOGY 37.62 -0.70 -1.83

FTSE BURSA 100 12,925.73 -145.99 -1.12

FTSE BURSA MID 70 16,202.14 -266.04 -1.62

FTSE BURSA SMALL CAP 16,713.62 -308.73 -1.81

FTSE BURSA FLEDGLING 18,625.50 -240.34 -1.27

FTSE BURSA EMAS 13,220.69 -155.89 -1.17

FTSE BUR M’SIA ACE 6,351.43 -144.70 -2.23

FTSE BUR EMAS SHARIAH 13,489.42 -162.40 -1.19

FTSE BUR HIJRAH SHARIAH 14,914.25 -144.43 -0.96

FTSE/ASEAN 40 12,012.05 -169.85 -1.39

INDICES CLOSE +/- %CHG

Sectorial Movement

CONSUMER PRODUCTS 0.725 0.380 0.420 0.390 7120 ACOSTEC 0.400 UNCH 323.2 0.412 — — 71.1 5.800 4.435 — — 7090 AHEALTH 5.450 — — — 16.62 2.11 638.4 24.759 13.184 20.400 20.100 2658 AJI 20.280 -0.120 31.1 20.29 6.60 2.07 1,233.0 0.390 0.240 0.290 0.280 7051 AMTEK 0.290 0.005 49.4 0.283 — — 14.5 5.202 4.280 4.400 4.280 6432 APOLLO 4.300 -0.140 18 4.32 22.30 5.81 344.0 1.110 0.800 — — 7722 ASIABRN 0.910 — — — — — 72.0 3.423 2.600 2.620 2.600 7129 ASIAFLE 2.610 -0.010 58.3 2.610 8.12 6.13 508.3 48.735 31.400 33.600 32.600 4162 BAT 33.320 -0.280 151.4 33.14 13.57 6.09 9,513.9 0.120 0.050 0.055 0.050 7243 BIOOSMO 0.055 0.005 406 0.054 — — 43.7 0.718 0.475 0.500 0.475 9288 BONIA 0.495 0.015 3958.9 0.492 16.07 2.53 399.1 1.110 0.885 0.900 0.885 7174 CAB 0.900 -0.010 781.2 0.895 6.40 0.56 562.2 1.370 0.380 1.100 1.040 7154 CAELY 1.070 -0.080 3128.5 1.075 48.86 0.93 85.6 0.415 0.260 0.360 0.355 7128 CAMRES 0.355 -0.025 75.3 0.357 17.15 2.82 69.9 16.420 13.228 16.420 16.000 2836 CARLSBG 16.420 0.180 172.4 16.29 23.00 4.69 5,020.4 1.230 0.607 1.120 1.060 7035 CCK 1.090 -0.030 270.3 1.097 11.86 1.83 343.7 3.030 1.943 2.800 2.700 7148 CCMDBIO 2.800 0.030 763.7 2.720 19.93 2.32 781.1 2.549 2.070 2.110 2.070 2828 CIHLDG 2.100 -0.010 21.3 2.107 10.29 3.81 340.2 0.145 0.020 0.100 0.085 5188 CNOUHUA 0.095 -0.005 1279.2 0.092 — — 63.5 3.200 2.013 2.550 2.400 7205 COCOLND 2.540 -0.020 347 2.539 14.40 6.10 581.2 1.906 1.580 1.600 1.580 7202 CSCENIC 1.590 -0.010 57.7 1.593 15.62 6.29 191.6 0.095 0.010 — — 5214 CSL 0.010 — — — 1.27 — 12.4 0.773 0.481 0.505 0.500 9423 CWG 0.500 -0.010 52 0.502 3.29 3.00 63.1 0.045 0.025 0.040 0.030 7179 DBE 0.035 UNCH 20411 0.035 — — 93.7 1.040 0.807 — — 7119 DEGEM 0.985 — — — 12.33 2.54 132.0 63.860 51.497 63.860 62.500 3026 DLADY 63.840 0.540 16.8 63.52 30.36 1.57 4,085.8 0.110 0.065 0.085 0.080 7182 EKA 0.085 UNCH 422 0.085 — — 26.5 0.360 0.220 0.235 0.225 9091 EMICO 0.225 -0.005 511.4 0.225 — — 21.6 1.823 1.230 1.230 1.230 7149 ENGKAH 1.230 UNCH 5 1.230 72.78 4.88 87.0 0.270 0.150 0.160 0.160 7208 EURO 0.160 -0.005 348.5 0.160 — — 42.8 0.760 0.625 — — 7094 EUROSP 0.700 — — — 31.96 — 31.1 30.300 22.138 30.300 29.200 3689 F&N 29.880 0.620 260.1 29.87 33.85 1.92 10,959.3 1.070 0.815 0.850 0.850 2755 FCW 0.850 UNCH 0.2 0.850 — 1.76 212.5 0.850 0.465 0.500 0.470 8605 FFHB 0.500 UNCH 264.3 0.492 11.71 2.40 54.5 2.040 0.830 1.880 1.790 9172 FPI 1.830 -0.070 761.1 1.824 13.20 3.28 452.7 1.100 0.720 0.720 0.720 7184 G3 0.720 -0.080 2.5 0.720 — — 297.0 2.200 0.869 2.030 1.970 5102 GCB 1.980 -0.050 562.1 1.995 15.51 1.26 950.7 3.440 2.334 3.170 3.110 5606 GOLDIS 3.130 -0.060 63.5 3.126 11.10 0.64 1,914.0 0.135 0.045 0.065 0.055 5187 HBGLOB 0.060 UNCH 2584.8 0.060 12.24 — 28.1 19.640 14.938 19.640 19.100 3255 HEIM 19.600 0.480 82.8 19.43 21.07 5.87 5,921.1 10.440 8.799 9.670 9.500 3301 HLIND 9.500 -0.160 23.6 9.571 24.38 3.68 3,115.1 1.008 0.790 0.820 0.790 5160 HOMERIZ 0.790 -0.030 731.4 0.805 8.17 5.32 237.0 0.380 0.300 0.355 0.350 7213 HOVID 0.350 -0.005 183 0.354 — — 287.3 1.237 1.061 1.110 1.090 5024 HUPSENG 1.090 -0.020 71 1.100 18.96 3.67 872.0 0.630 0.380 0.385 0.380 8478 HWATAI 0.380 -0.005 133 0.381 135.71 — 28.4 4.760 1.550 1.600 1.550 5107 IQGROUP 1.560 -0.040 57.3 1.564 7.98 7.05 137.3 1.546 1.121 1.260 1.240 7152 JAYCORP 1.250 -0.010 116 1.250 6.83 8.80 171.6 0.740 0.470 0.480 0.470 8931 JERASIA 0.475 -0.005 35 0.473 13.19 — 39.0 1.715 1.160 1.270 1.250 7167 JOHOTIN 1.260 -0.020 886.8 1.255 9.08 2.68 391.2 2.452 1.100 1.130 1.100 5247 KAREX 1.110 -0.030 2577.9 1.111 46.25 0.90 1,112.6 3.800 2.780 2.800 2.780 7216 KAWAN 2.800 -0.010 158.6 2.799 33.06 0.67 1,006.7 0.255 0.140 0.140 0.140 8303 KFM 0.140 -0.005 13 0.140 — — 9.6 0.920 0.695 0.710 0.695 6203 KHEESAN 0.700 -0.030 53 0.702 22.95 2.14 72.8 2.537 1.860 — — 7062 KHIND 2.010 — — — 36.35 0.50 80.5 2.184 1.022 1.740 1.700 0002 KOTRA 1.700 -0.050 14 1.717 15.47 2.35 227.1 0.140 0.055 0.115 0.100 5172 KSTAR 0.105 -0.010 4757.1 0.113 — — 30.8 5.839 3.900 3.960 3.900 7006 LATITUD 3.960 -0.020 34.4 3.949 6.07 3.03 384.9 1.090 0.815 0.985 0.950 9385 LAYHONG 0.965 -0.010 331 0.965 19.00 0.52 607.6 0.490 0.285 0.440 0.425 8079 LEESK 0.425 -0.020 564.8 0.432 13.89 2.35 71.3 4.303 2.900 3.120 2.900 7089 LIIHEN 3.100 0.040 460 3.012 7.23 5.16 558.0 0.820 0.585 0.610 0.585 7126 LONBISC 0.600 UNCH 115 0.595 12.99 — 111.9 1.866 1.020 1.070 1.050 7085 LTKM 1.060 UNCH 25.4 1.058 26.97 2.83 137.9 7.728 4.563 4.950 4.800 7087 MAGNI 4.800 -0.160 234.5 4.839 7.22 2.92 781.1 0.045 0.010 0.025 0.015 5189 MAXWELL 0.015 -0.005 1358.6 0.020 — — 6.0 1.266 0.974 — — 5886 MBG 0.990 — — — 16.12 3.03 60.2 2.464 1.343 2.300 2.190 3662 MFLOUR 2.290 -0.040 806.9 2.239 15.14 2.84 1,260.2 0.960 0.760 0.790 0.780 7935 MILUX 0.780 UNCH 16.7 0.786 — — 42.4 4.956 3.760 4.200 4.180 5202 MSM 4.200 -0.030 12.9 4.181 — 3.33 2,952.5 0.035 0.030 — — 5150 MSPORTS 0.035 — — — — — 21.2 1.826 1.253 1.300 1.280 3921 MWE 1.280 -0.020 8.7 1.289 2.15 1.56 296.4 117.000 73.040 116.600 115.900 4707 NESTLE 116.600 0.700 202.2 116.4 47.21 2.32 27,342.7 4.838 3.159 3.350 3.350 7060 NHFATT 3.350 UNCH 24.4 3.350 11.28 3.28 251.8 0.130 0.055 0.060 0.055 7139 NICE 0.055 UNCH 975 0.055 — — 18.3 0.310 0.200 0.205 0.200 7215 NIHSIN 0.200 -0.005 855.3 0.201 57.14 — 58.9 0.882 0.560 0.570 0.560 5066 NTPM 0.565 -0.005 1671.6 0.565 14.49 4.25 634.6 1.765 1.000 1.050 1.000 7107 OFI 1.010 -0.050 389.6 1.015 14.81 3.96 242.4 6.768 6.258 6.510 6.460 4006 ORIENT 6.490 -0.040 92.9 6.488 9.14 3.08 4,026.4 5.500 2.283 5.200 5.100 7052 PADINI 5.170 -0.020 646.6 5.158 21.26 1.93 3,401.4 40.631 30.301 34.560 34.560 3719 PANAMY 34.560 0.040 0.6 34.56 17.36 3.39 2,099.4 0.654 0.400 — — 5022 PAOS 0.400 — — — 48.19 4.00 72.5 0.650 0.350 0.385 0.385 9407 PARAGON 0.385 -0.035 10 0.385 — — 27.0 0.401 0.210 0.325 0.300 6068 PCCS 0.310 -0.015 1845 0.308 6.97 — 65.1 1.030 0.790 0.820 0.800 5231 PELIKAN 0.820 0.015 49 0.803 19.66 — 453.7 0.707 0.561 0.615 0.600 9997 PENSONI 0.600 -0.015 128.5 0.607 10.36 3.33 77.8 0.235 0.155 0.175 0.160 4081 PMCORP 0.160 -0.015 127.9 0.166 — — 123.7 0.795 0.465 0.625 0.610 5080 POHKONG 0.610 -0.010 44.9 0.613 7.56 1.64 250.3 2.048 1.480 1.530 1.480 7088 POHUAT 1.510 -0.030 300 1.503 5.78 5.30 351.9 17.680 15.854 17.480 17.320 4065 PPB 17.440 -0.060 1329.8 17.43 15.60 1.43 20,675.1 0.720 0.480 — — 7190 PPG 0.550 — — — 21.40 3.64 55.0 1.623 0.585 0.610 0.585 8966 PRLEXUS 0.585 -0.025 512.8 0.596 5.43 3.85 105.4 1.133 0.706 1.010 0.995 7134 PWF 1.000 -0.010 122.2 1.001 8.80 3.43 172.9 2.615 1.790 1.900 1.790 7237 PWROOT 1.790 -0.040 2803.9 1.873 16.42 6.42 591.0 4.840 3.820 4.820 4.780 7084 QL 4.810 -0.020 155 4.796 38.54 0.68 7,803.9 0.628 0.530 0.570 0.555 9946 REX 0.570 UNCH 66.1 0.560 56.44 0.88 140.6 1.890 1.040 1.090 1.040 0183 SALUTE 1.060 -0.060 962.4 1.057 20.31 2.26 411.3 1.069 0.550 0.585 0.570 5252 SASBADI 0.585 -0.005 179.1 0.575 30.00 1.15 245.2 0.590 0.295 0.480 0.470 5157 SAUDEE 0.480 UNCH 28 0.474 37.80 — 63.4 1.710 1.000 1.580 1.520 7180 SERNKOU 1.580 UNCH 30.9 1.543 63.20 — 189.6 1.340 0.590 1.190 0.970 7165 SGB 1.120 0.100 2219.2 1.123 — — 220.6 1.662 1.150 — — 7412 SHH 1.190 — — — 11.30 4.20 59.5 1.034 0.615 0.640 0.615 7246 SIGN 0.625 -0.025 554.9 0.620 7.67 4.00 150.2 0.915 0.473 0.640 0.500 8532 SINOTOP 0.635 0.065 116.9 0.516 86.99 — 250.8 0.865 0.500 0.530 0.520 9776 SMCAP 0.530 UNCH 60.3 0.529 — — 32.4 0.385 0.220 0.290 0.290 7943 SNC 0.290 UNCH 10 0.290 — — 19.1 2.548 2.130 2.280 2.280 7103 SPRITZER 2.280 UNCH 7 2.280 18.37 2.54 478.8 1.440 1.050 1.250 1.200 7186 SWSCAP 1.240 -0.010 29.5 1.232 20.98 0.81 180.9 0.669 0.370 0.375 0.370 7082 SYF 0.375 UNCH 354.2 0.370 9.21 4.00 232.2 0.505 0.360 0.410 0.410 7211 TAFI 0.410 -0.010 12 0.410 — — 32.8 1.928 1.290 1.780 1.750 4405 TCHONG 1.780 UNCH 125.9 1.765 — 1.12 1,196.2 0.800 0.375 0.385 0.375 7200 TEKSENG 0.380 -0.005 747.3 0.379 — 5.26 132.3 1.250 0.850 1.010 1.000 7252 TEOSENG 1.000 -0.020 224.1 1.006 — 1.50 300.0 1.455 1.160 — — 9369 TGL 1.200 — — — 13.20 4.17 48.9 1.020 0.420 0.685 0.650 7230 TOMEI 0.650 UNCH 26.4 0.651 7.49 — 90.1 0.530 0.370 — — 7176 TPC 0.390 — — — — — 91.2 6.980 4.700 6.880 6.660 4588 UMW 6.880 0.060 1296.7 6.803 — — 8,037.9 2.680 1.972 2.490 2.490 7757 UPA 2.490 UNCH 1 2.490 3.24 3.21 198.2 2.470 0.805 1.700 1.680 7203 WANGZNG 1.690 -0.050 145.1 1.692 18.61 2.37 270.4 0.205 0.050 0.180 0.175 5156 XDL 0.175 -0.005 21600.9 0.175 23.33 — 236.7 0.665 0.365 0.590 0.550 7121 XIANLNG 0.575 -0.020 198.9 0.574 — — 46.0 0.115 0.020 — — 5155 XINQUAN 0.055 — — — — — 26.7 2.822 2.100 2.250 2.240 5584 YEELEE 2.240 -0.030 26.8 2.244 11.20 2.01 429.2 1.522 1.009 1.140 1.100 5159 YOCB 1.140 UNCH 109.6 1.138 8.24 4.39 182.4 3.190 1.899 2.560 2.510 7178 YSPSAH 2.550 -0.010 65.2 2.553 12.64 2.75 348.7 2.150 1.324 1.680 1.640 5131 ZHULIAN 1.650 -0.040 484.4 1.652 14.37 3.64 759.0INDUSTRIAL PRODUCTS 1.393 0.985 1.010 0.990 0012 3A 0.990 -0.030 305.2 0.999 11.65 1.82 487.1 0.210 0.090 0.120 0.120 7086 ABLEGRP 0.120 UNCH 877.4 0.120 — — 31.7 0.430 0.205 0.320 0.300 7131 ACME 0.320 UNCH 14.9 0.307 15.53 — 69.9 0.975 0.585 0.615 0.585 7191 ADVENTA 0.605 0.015 166.2 0.601 672.22 — 92.4 2.307 1.900 1.950 1.900 9148 ADVPKG 1.950 -0.070 2.1 1.922 22.31 3.08 40.0 0.220 0.140 0.150 0.145 7146 AEM 0.150 UNCH 180 0.148 187.50 — 44.9 0.580 0.375 — — 5198 AFUJIYA 0.500 — — — 18.45 — 90.0 0.595 0.365 0.395 0.370 2682 AISB 0.370 0.005 30.4 0.385 4.60 — 53.4 0.913 0.575 0.585 0.575 7609 AJIYA 0.580 -0.005 115.3 0.580 13.62 3.45 176.7

0.495 0.080 0.340 0.340 9954 AKNIGHT 0.340 -0.010 20 0.340 — — 19.8 1.694 0.850 0.880 0.855 2674 ALCOM 0.865 -0.025 210.8 0.862 7.48 23.70 116.2 1.070 0.345 0.555 0.550 4758 ANCOM 0.555 -0.015 254.4 0.551 6.68 — 121.5 3.980 2.170 3.450 3.300 6556 ANNJOO 3.430 UNCH 1099.2 3.372 8.82 3.06 1,849.5 0.551 0.075 0.085 0.080 9342 ANZO 0.085 0.005 781.7 0.080 141.6 — 74.9 1.160 0.855 — — 5568 APB 0.950 — — — 28.11 6.84 107.2 4.090 3.281 3.700 3.680 5015 APM 3.700 UNCH 4.3 3.695 17.48 3.92 745.9 1.194 0.860 0.905 0.895 7214 ARANK 0.905 -0.015 79.5 0.901 7.30 3.59 108.6 1.290 0.700 1.090 1.050 7162 ASTINO 1.070 -0.050 3609.3 1.070 7.62 0.93 293.3 1.185 0.483 0.980 0.940 7099 ATTA 0.970 -0.015 271.6 0.972 4.10 8.14 150.5 0.560 0.200 0.205 0.205 7181 ATURMJU 0.205 0.005 5 0.205 — — 12.5 2.522 1.710 2.010 2.000 8133 BHIC 2.000 -0.010 22.3 2.005 5.56 2.50 496.9 0.570 0.350 0.375 0.355 7005 BIG 0.355 -0.025 40 0.366 — — 17.1 0.580 0.115 0.430 0.420 7187 BKOON 0.425 -0.010 365.8 0.424 132.81 — 122.0 1.091 0.752 0.800 0.780 0168 BOILERM 0.800 0.015 369.1 0.786 18.43 1.88 412.8 2.144 1.200 1.270 1.220 6297 BOXPAK 1.220 -0.090 147 1.242 — — 146.5 1.531 0.980 1.030 0.980 5100 BPPLAS 0.980 -0.030 72.9 0.989 13.76 8.16 183.9 0.316 0.237 0.260 0.250 9938 BRIGHT 0.255 -0.005 183.5 0.253 — — 52.4 0.800 0.300 0.680 0.680 7221 BSLCORP 0.680 0.015 16.1 0.680 20.06 — 66.6 0.365 0.230 — — 7188 BTM 0.245 — — — 45.37 — 31.5 3.489 2.660 2.840 2.810 5105 CANONE 2.820 -0.030 58.8 2.819 7.65 1.42 541.9 0.035 0.005 — — 5229 CAP 0.010 — — — — — 13.6 2.132 1.701 1.740 1.720 7076 CBIP 1.720 -0.030 181.6 1.728 9.42 3.49 925.8 2.350 1.283 2.140 2.110 2879 CCM 2.110 -0.060 23.1 2.123 42.80 7.11 353.8 1.750 1.380 1.460 1.450 8435 CEPCO 1.460 UNCH 4 1.456 — — 65.4 1.240 1.020 1.090 1.080 8044 CFM 1.080 -0.020 12 1.088 — — 44.3 1.896 1.574 1.710 1.680 5007 CHINWEL 1.680 -0.030 51.5 1.702 9.63 4.05 503.2 2.650 1.670 2.500 2.450 5797 CHOOBEE 2.490 -0.030 136.4 2.480 7.63 2.41 273.7 1.150 0.940 1.000 1.000 8052 CICB 1.000 UNCH 10 1.000 23.87 — 50.0 0.075 0.040 0.050 0.050 7018 CME 0.050 UNCH 200 0.050 — — 24.3 4.628 3.300 4.240 4.150 2852 CMSB 4.180 -0.140 779 4.187 17.89 1.51 4,490.9 0.840 0.305 0.700 0.690 7986 CNASIA 0.700 -0.020 161.8 0.700 1.36 — 31.8 1.507 1.141 1.280 1.260 5071 COASTAL 1.280 -0.010 167.3 1.273 13.78 1.56 680.4 1.150 0.670 0.720 0.700 7195 COMCORP 0.705 -0.025 1138.2 0.707 9.19 — 98.7 1.220 0.670 1.070 1.050 2127 COMFORT 1.060 -0.030 2758.6 1.058 16.26 — 595.7 1.979 1.470 1.560 1.530 5094 CSCSTEL 1.540 -0.010 133.2 1.539 11.11 6.49 585.2 0.804 0.625 0.630 0.630 7157 CYL 0.630 -0.010 1 0.630 50.40 6.35 63.0 0.405 0.305 — — 5082 CYMAO 0.320 — — — — — 24.0 2.348 2.180 2.320 2.180 8125 DAIBOCI 2.320 0.060 450 2.295 31.69 1.88 760.7 2.000 0.460 1.900 1.860 8176 DENKO 1.900 -0.020 395.3 1.873 — — 421.6 0.460 0.225 0.345 0.340 7114 DNONCE 0.340 -0.010 694 0.345 33.01 — 64.3 0.435 0.185 — — 5835 DOLMITE 0.195 — — — — — 55.6 0.430 0.145 0.155 0.145 5265 DOLPHIN 0.150 -0.010 1061.5 0.151 — — 36.6 1.400 1.108 1.320 1.250 7169 DOMINAN 1.320 0.020 61.8 1.288 9.30 4.55 218.1 2.750 1.163 2.650 2.500 1619 DRBHCOM 2.580 0.010 10398.6 2.584 8.43 0.39 4,987.8 1.582 0.757 1.200 1.070 7233 DUFU 1.180 0.040 1120.2 1.138 5.86 4.66 207.1 0.866 0.595 0.610 0.595 8907 EG 0.595 -0.020 638.6 0.600 5.53 — 158.5 1.070 0.780 0.840 0.820 9016 EKSONS 0.820 -0.040 20 0.824 — — 134.7 0.843 0.518 0.805 0.750 7217 EMETALL 0.765 -0.040 775.9 0.769 7.70 3.27 144.0 0.885 0.385 — — 7773 EPMB 0.500 — — — — — 83.0 0.988 0.540 0.555 0.540 5101 EVERGRN 0.545 -0.005 1911.4 0.548 9.32 3.67 461.3 1.690 1.071 1.640 1.580 2984 FACBIND 1.640 0.020 208.6 1.595 16.03 2.44 139.7 2.862 2.492 2.740 2.700 7229 FAVCO 2.710 -0.020 41.7 2.710 8.26 5.54 600.0 0.780 0.537 0.590 0.580 0149 FIBON 0.590 UNCH 260.1 0.580 20.63 1.86 57.8 2.221 2.010 2.080 2.080 3107 FIMACOR 2.080 -0.010 5 2.080 18.12 6.01 510.1 1.870 1.220 1.260 1.230 5197 FLBHD 1.260 -0.030 119 1.248 6.87 — 130.0 0.679 0.365 0.380 0.365 5277 FPGROUP 0.375 -0.005 2792.9 0.374 17.94 1.89 194.3 1.510 1.310 — — 3611 GBH 1.450 — — — 75.52 — 270.6 2.620 1.420 1.450 1.420 7197 GESHEN 1.440 -0.020 97.2 1.431 7.34 — 115.2 0.085 0.040 0.055 0.050 5220 GLOTEC 0.055 UNCH 4187 0.053 — — 296.0 0.675 0.185 — — 7192 GOODWAY 0.210 — — — — — 23.2 0.135 0.090 0.090 0.090 7096 GPA 0.090 UNCH 473.4 0.090 — — 88.2 0.425 0.260 — — 5649 GPHAROS 0.260 — — — — — 35.0 0.250 0.175 — — 0136 GREENYB 0.190 — — — — 1.58 63.4 1.005 0.630 0.730 0.710 3247 GUH 0.720 -0.010 67.7 0.717 19.62 4.68 200.1 1.180 0.475 1.090 1.080 5151 HALEX 1.080 -0.030 106.5 1.084 — — 114.5 12.180 4.556 11.420 11.300 5168 HARTA 11.360 -0.220 839.8 11.36 51.17 0.88 18,777.0 19.200 2.800 13.440 12.900 4324 HENGYUAN 13.040 -0.580 2516.6 13.15 4.19 — 3,912.0 1.727 0.950 0.990 0.950 5095 HEVEA 0.955 -0.040 3720.4 0.965 6.32 8.06 533.4 1.136 0.765 0.795 0.795 3298 HEXZA 0.795 -0.005 33 0.795 — 6.29 159.3 0.520 0.295 0.505 0.490 5072 HIAPTEK 0.495 -0.010 13341.8 0.497 — — 658.2 1.170 0.375 0.915 0.855 5199 HIBISCS 0.875 -0.075 95293.1 0.888 34.31 — 1,389.7 1.340 0.872 — — 7033 HIGHTEC 1.270 — — — 8.16 2.76 51.6 1.020 0.680 0.840 0.840 8443 HIL 0.840 -0.015 15 0.840 16.70 1.49 280.6 0.715 0.290 0.400 0.400 5165 HOKHENG 0.400 0.020 10 0.400 27.97 — 32.0 0.665 0.030 0.560 0.505 2739 HUAAN 0.530 -0.020 41518 0.535 — — 594.8 2.869 1.960 2.000 1.960 5000 HUMEIND 2.000 UNCH 5 1.984 86.21 1.00 958.2 0.085 0.045 0.075 0.065 9601 HWGB 0.065 -0.010 9277.7 0.070 — — 64.9 1.996 1.634 1.800 1.790 7222 IMASPRO 1.800 UNCH 18 1.791 33.46 1.94 144.0 0.300 0.140 — — 7183 IRETEX 0.150 — — — — — 20.7 0.085 0.050 0.065 0.055 7223 JADI 0.060 UNCH 6375 0.060 — — 56.5 0.175 0.130 0.130 0.130 8648 JASKITA 0.130 -0.005 58 0.130 — 7.69 58.4 1.120 0.920 — — 7043 JMR 1.060 — — — 189.2 2.83 134.4 0.310 0.205 0.220 0.215 0054 KARYON 0.215 -0.005 624.8 0.218 19.55 1.40 102.3 0.772 0.525 — — 7199 KEINHIN 0.525 — — — 10.08 2.59 57.2 0.500 0.300 0.400 0.355 6211 KIALIM 0.355 -0.005 18 0.360 — — 22.0 3.080 2.770 2.890 2.860 3522 KIANJOO 2.860 -0.070 35.2 2.876 18.27 1.40 1,270.3 2.315 1.370 1.510 1.460 5371 KIMHIN 1.510 -0.090 1.2 1.481 10.11 3.97 235.0 0.075 0.005 — — 5060 KINSTEL 0.005 — — — — — 5.2 1.450 0.800 0.965 0.945 9466 KKB 0.945 -0.020 201.6 0.958 — — 243.6 0.375 0.220 0.235 0.230 7164 KNM 0.235 -0.005 7669.7 0.234 — — 556.8 1.120 0.830 0.860 0.860 6971 KOBAY 0.860 UNCH 6.2 0.860 14.08 — 87.8 0.255 0.180 0.200 0.190 7017 KOMARK 0.190 -0.010 660 0.190 — — 31.2 8.790 5.529 8.490 8.380 7153 KOSSAN 8.440 -0.090 129.5 8.443 30.23 1.30 5,397.1 1.110 0.345 0.710 0.695 7130 KPOWER 0.695 -0.005 38 0.698 — — 52.9 5.098 4.500 4.620 4.600 3476 KSENG 4.610 -0.040 18.5 4.604 21.31 2.17 1,666.4 0.580 0.380 0.395 0.390 5192 KSSC 0.390 -0.025 32 0.390 8.50 3.85 37.4 0.775 0.300 0.470 0.460 8362 KYM 0.470 -0.015 51.3 0.463 67.14 — 70.4 7.140 5.060 5.560 5.440 3794 LAFMSIA 5.450 -0.100 613.7 5.500 — 3.67 4,630.8 0.910 0.580 0.615 0.600 9326 LBALUM 0.610 -0.005 159.4 0.604 12.27 4.10 151.6 0.601 0.425 0.550 0.545 5092 LCTH 0.545 -0.010 353.5 0.549 15.98 4.59 196.2 6.530 4.140 5.530 5.340 5284 LCTITAN 5.360 -0.140 4398.6 5.402 9.99 — 12,369.8 0.985 0.486 0.875 0.840 5232 LEONFB 0.855 -0.025 805.2 0.856 4.24 1.75 265.1 0.440 0.120 0.305 0.295 8745 LEWEKO 0.305 UNCH 326.4 0.300 — — 98.2 0.080 0.030 0.030 0.030 2887 LIONDIV 0.030 UNCH 148 0.030 — — 41.8 1.670 0.465 1.300 1.240 4235 LIONIND 1.300 0.010 1741.9 1.272 6.55 — 933.3 0.740 0.390 0.460 0.440 9881 LSTEEL 0.450 -0.015 304.9 0.451 10.56 — 57.6 0.160 0.080 0.105 0.100 5068 LUSTER 0.100 -0.005 4592 0.102 — — 197.6 4.660 3.365 4.060 4.000 9199 LYSAGHT 4.060 -0.020 36.8 4.010 8.47 1.72 168.8 1.830 0.622 1.630 1.570 5098 MASTEEL 1.620 -0.040 4695.4 1.607 7.06 — 519.1 0.841 0.561 0.635 0.605 7029 MASTER 0.605 -0.015 46.1 0.608 8.07 1.65 33.0 1.430 1.010 1.320 1.290 5152 MBL 1.310 -0.010 45.1 1.305 8.73 3.05 126.6 0.870 0.675 — — 7004 MCEHLDG 0.770 — — — 30.20 1.95 34.2 0.400 0.230 0.235 0.235 3778 MELEWAR 0.235 -0.005 19 0.235 — — 53.0 0.789 0.552 0.610 0.610 5223 MENTIGA 0.610 -0.005 2 0.610 — 1.64 42.7 1.837 1.620 — — 6149 METROD 1.680 — — — 13.15 3.57 201.6 1.260 0.645 0.675 0.650 5001 MIECO 0.660 -0.020 1184.5 0.662 4.28 6.06 346.5 0.170 0.095 0.130 0.130 7219 MINETEC 0.130 UNCH 1330 0.130 — — 95.1 0.647 0.426 0.460 0.460 5576 MINHO 0.460 -0.010 17 0.460 6.57 1.63 101.1 4.237 3.250 3.570 3.540 5916 MSC 3.540 -0.060 11.5 3.548 11.20 2.26 354.0 1.766 1.250 1.270 1.250 3883 MUDA 1.250 -0.030 541.3 1.255 9.37 2.40 381.3 1.030 0.495 0.530 0.500 5087 MYCRON 0.530 -0.010 346.9 0.507 4.93 — 150.3 0.240 0.005 — — 7002 NAKA 0.010 — — — — — 0.6 0.265 0.090 0.135 0.125 5025 NWP 0.130 0.015 348 0.128 — — 49.7 1.163 0.601 0.840 0.815 4944 NYLEX 0.820 -0.025 275 0.822 7.30 2.44 159.4 1.925 1.196 1.560 1.550 7140 OKA 1.550 -0.020 250.7 1.553 8.74 3.55 253.5 1.604 0.939 1.360 1.330 5065 ORNA 1.350 -0.020 242.2 1.338 8.37 1.85 101.6 0.130 0.043 0.095 0.085 7225 PA 0.095 UNCH 42033.8 0.089 — — 161.9 8.280 6.687 8.080 7.920 5183 PCHEM 8.020 UNCH 9659.5 8.009 15.62 2.99 64,160.0 1.667 1.255 1.470 1.410 5271 PECCA 1.420 UNCH 191.5 1.423 20.49 3.52 267.0 7.901 3.660 3.850 3.660 5436 PERSTIM 3.670 -0.260 190.3 3.711 14.19 10.90 364.4 20.285 15.820 18.400 17.820 6033 PETGAS 18.040 -0.240 820.6 18.04 20.15 3.66 35,696.3 15.060 4.292 11.580 11.260 3042 PETRONM 11.340 -0.480 462.6 11.39 7.32 1.94 3,061.8 2.466 1.550 1.620 1.550 7095 PIE 1.550 -0.080 818.6 1.589 12.55 1.55 595.3 5.466 1.571 4.020 3.960 7172 PMBTECH 4.010 -0.040 94.2 4.001 27.20 1.00 320.8 5.830 2.506 5.740 5.650 8869 PMETAL 5.730 -0.070 5994.9 5.728 37.21 1.05 22,134.6 0.575 0.470 — — 6637 PNEPCB 0.520 — — — 20.88 — 68.4 0.995 0.290 0.530 0.500 8117 POLY 0.510 -0.020 322 0.511 2.43 — 81.6 0.973 0.660 0.670 0.660 8273 PPHB 0.670 -0.005 107.4 0.667 7.12 — 126.4 0.335 0.250 — — 9458 PREMIER 0.275 — — — 916.6 — 92.7 1.458 0.828 1.040 1.020 9873 PRESTAR 1.020 -0.030 361.7 1.028 4.42 3.92 208.7 1.110 0.840 0.910 0.910 7168 PRG 0.910 0.020 3 0.910 197.83 0.55 275.5 0.330 0.105 0.255 0.235 7123 PWORTH 0.245 -0.010 22017 0.246 37.12 — 246.6 1.290 0.920 — — 7544 QUALITY 0.970 — — — — — 56.2 0.750 0.510 — — 7498 RALCO 0.520 — — — — — 21.8 5.840 5.310 5.680 5.640 7765 RAPID 5.680 0.030 359.8 5.675 516.3 — 607.2 0.670 0.285 0.375 0.355 5256 REACH 0.365 -0.020 5486.3 0.363 280.7 — 400.2 0.655 0.365 0.410 0.370 7232 RESINTC 0.390 -0.030 107.1 0.383 6.67 3.08 53.5 1.580 0.725 1.410 1.380 9741 ROHAS 1.380 -0.070 88 1.393 — 0.72 652.3 0.838 0.641 0.675 0.670 7803 RUBEREX 0.675 -0.005 146.1 0.672 9.31 2.59 170.2 5.194 4.076 — — 5134 SAB 4.300 — — — 13.25 1.16 588.8 8.490 5.233 7.170 7.070 9822 SAM 7.070 -0.110 2.5 7.095 16.91 1.45 955.6 0.957 0.830 0.830 0.830 7811 SAPIND 0.830 -0.060 9.5 0.830 42.13 6.02 60.4 1.237 0.675 0.700 0.675 5170 SCABLE 0.690 -0.015 338.1 0.682 — 4.35 218.8 3.400 2.180 2.240 2.180 7247 SCGM 2.220 -0.030 68.4 2.200 16.75 2.70 429.8 0.740 0.500 — — 9237 SCIB 0.560 — — — 14.43 — 48.1 9.738 6.765 8.730 8.430 4731 SCIENTX 8.450 -0.240 360.4 8.512 14.47 1.89 4,131.4 0.345 0.250 — — 7239 SCNWOLF 0.260 — — — 136.8 — 22.8 0.525 0.215 0.300 0.280 7366 SCOMIEN 0.290 -0.010 308.7 0.288 — — 99.2 1.660 0.690 0.780 0.735 7073 SEACERA 0.750 -0.030 1983.9 0.751 57.69 — 280.6 0.215 0.125 — — 5145 SEALINK 0.160 — — — — — 80.0 0.765 0.395 0.585 0.550 5163 SEB 0.585 UNCH 24.5 0.559 8.20 — 46.8 1.410 0.397 0.935 0.910 5181 SIGGAS 0.925 -0.015 484.8 0.916 39.03 1.30 173.4

* 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 FEBRUARY 6, 2018 • THEEDGE FINANCIAL DAILY



1.040 0.630 — — 7115 SKBSHUT 0.680 — — — 8.30 — 27.2 2.350 1.199 1.930 1.870 7155 SKPRES 1.900 -0.050 3063.2 1.905 17.35 2.18 2,375.4 2.201 1.430 — — 7248 SLP 1.490 — — — 19.05 2.64 472.3 0.700 0.480 — — 7132 SMISCOR 0.600 — — — — — 26.9 2.580 1.129 2.050 1.980 5665 SSTEEL 2.030 -0.060 325.9 2.022 6.78 1.48 878.8 0.300 0.085 0.190 0.180 7143 STONE 0.190 0.010 6.5 0.181 — — 17.1 1.550 1.120 — — 6904 SUBUR 1.160 — — — — — 242.4 2.128 1.070 1.140 1.100 7207 SUCCESS 1.120 UNCH 278.7 1.118 6.50 2.23 278.3 2.945 1.610 1.670 1.610 7235 SUPERLN 1.620 -0.050 270.7 1.633 12.99 1.54 259.2 2.500 1.664 2.160 2.090 7106 SUPERMX 2.120 -0.060 2565 2.130 18.78 2.59 1,441.9 4.104 3.260 3.290 3.260 5012 TAANN 3.260 -0.040 780.8 3.278 11.35 4.60 1,450.2 0.415 0.250 0.300 0.295 5149 TAS 0.295 -0.010 237.5 0.296 — — 53.1 13.373 9.800 9.900 9.800 4448 TASEK 9.800 -0.080 21.5 9.865 131.54 12.24 1,211.5 0.290 0.105 0.170 0.165 5178 TATGIAP 0.170 -0.005 305 0.169 — — 29.0 1.480 0.375 1.050 0.995 7097 TAWIN 1.030 -0.030 1100.9 1.042 5.83 — 66.2 2.690 1.300 1.330 1.310 7439 TECGUAN 1.310 -0.040 18 1.321 — — 52.5 4.803 3.710 3.790 3.710 7034 TGUAN 3.710 -0.110 332.2 3.739 8.31 3.23 505.2 2.140 1.500 1.600 1.600 7374 TIENWAH 1.600 -0.020 24 1.600 9.79 6.25 231.6 0.800 0.550 — — 7854 TIMWELL 0.640 — — — 145.4 — 57.0 1.069 0.935 1.020 0.980 7285 TOMYPAK 0.990 -0.010 506.3 0.994 10.26 3.23 415.5 4.292 1.838 4.050 4.000 5010 TONGHER 4.040 UNCH 105.6 4.022 10.09 9.41 636.0 10.000 4.467 9.390 9.050 7113 TOPGLOV 9.120 -0.230 3768.4 9.131 31.69 1.59 11,471.5 0.850 0.510 — — 7173 TOYOINK 0.630 — — — — — 67.4 0.230 0.155 — — 4359 TURIYA 0.180 — — — 900.0 — 41.2 3.410 1.613 2.780 2.680 7100 UCHITEC 2.690 -0.120 2897.2 2.701 18.40 5.58 1,208.9 4.930 3.060 3.070 3.060 7133 ULICORP 3.060 -0.120 2.2 3.065 18.40 3.92 444.3 1.347 1.040 — — 7227 UMSNGB 1.150 — — — 11.48 2.61 92.0 1.680 0.590 0.630 0.590 4995 VERSATL 0.625 0.005 472.3 0.604 40.58 — 73.3 3.270 1.422 3.050 2.950 6963 VS 3.030 UNCH 4328 3.007 21.85 2.05 3,973.7 1.480 0.820 1.440 1.410 5142 WASEONG 1.410 -0.060 994.2 1.421 — 0.35 1,092.6 0.465 0.300 0.300 0.300 7226 WATTA 0.300 UNCH 10 0.300 — — 25.3 2.300 1.724 2.250 2.220 7111 WEIDA 2.230 -0.020 581.1 2.233 24.19 1.35 297.3 1.639 1.410 1.570 1.530 7231 WELLCAL 1.560 -0.010 308.3 1.556 21.31 3.96 776.8 1.420 0.615 1.130 1.100 7050 WONG 1.130 -0.010 372.4 1.116 16.94 — 103.6 0.700 0.500 — — 7025 WOODLAN 0.600 — — — 29.41 — 24.0 1.980 1.871 — — 5009 WTHORSE 1.980 — — — 17.87 5.05 475.2 1.037 0.675 0.690 0.675 4243 WTK 0.675 -0.020 557.9 0.678 — 2.96 324.9 1.380 0.835 0.850 0.835 7245 WZSATU 0.835 -0.015 209 0.842 16.73 2.40 291.3 0.845 0.720 0.750 0.750 5048 YILAI 0.750 UNCH 105 0.750 — — 120.0 0.285 0.155 0.165 0.165 7020 YKGI 0.165 UNCH 76.6 0.165 — — 57.5 0.692 0.375 0.380 0.375 7014 YLI 0.380 -0.010 41 0.380 — 1.32 39.1CONSTRUCTION 1.210 0.728 0.825 0.820 5281 ADVCON 0.820 -0.005 105.2 0.823 11.61 — 329.7 0.750 0.350 — — 7007 ARK 0.350 — — — — — 17.0 1.200 0.614 0.940 0.900 7078 AZRB 0.915 -0.035 97.6 0.915 11.58 1.64 486.4 0.625 0.370 0.390 0.385 5190 BENALEC 0.385 -0.015 629.1 0.388 63.11 1.04 312.5 0.485 0.325 0.335 0.330 5932 BPURI 0.330 -0.005 335 0.331 44.00 — 88.2 1.140 0.786 0.920 0.920 8761 BREM 0.920 -0.030 8 0.920 16.55 1.63 317.8 1.220 0.875 0.950 0.935 8591 CRESBLD 0.950 -0.020 332.4 0.945 6.91 4.21 168.1 2.086 1.545 1.710 1.710 7528 DKLS 1.710 UNCH 2 1.710 3.66 1.75 158.5 1.410 1.180 1.240 1.190 5253 ECONBHD 1.240 0.010 2616.5 1.217 19.41 1.45 1,658.5 1.488 0.871 0.985 0.935 8877 EKOVEST 0.975 UNCH 8527.9 0.960 18.16 2.05 2,085.7 0.992 0.555 0.845 0.810 7047 FAJAR 0.810 -0.040 3030.2 0.820 7.44 3.09 302.5 1.335 1.010 1.130 1.110 9261 GADANG 1.110 -0.020 1286.6 1.117 6.25 2.70 732.5 5.392 4.573 5.100 4.940 5398 GAMUDA 4.980 -0.160 4086.8 4.988 18.89 2.41 12,232.6 2.160 0.965 1.910 1.860 5226 GBGAQRS 1.860 -0.080 1901.9 1.883 18.22 0.27 857.6 0.920 0.510 0.555 0.555 5169 HOHUP 0.555 -0.005 111.4 0.555 5.14 — 208.1 1.736 1.390 1.600 1.530 6238 HSL 1.600 UNCH 95.7 1.589 20.18 1.50 932.3 3.518 2.700 2.950 2.880 3336 IJM 2.890 -0.120 4924.1 2.903 17.07 2.60 10,486.7 0.740 0.525 0.555 0.540 5268 IKHMAS 0.540 -0.020 251.3 0.545 20.53 0.93 286.4 0.820 0.532 0.735 0.715 8834 IREKA 0.730 -0.010 71 0.720 — 2.74 136.3 1.840 1.010 1.840 1.760 4723 JAKS 1.840 0.010 3779.1 1.814 — — 907.0 0.500 0.240 0.255 0.245 9083 JETSON 0.255 0.005 101 0.250 — — 52.7 4.320 2.262 4.020 3.950 7161 KERJAYA 4.020 -0.020 690.5 3.997 17.09 1.37 2,269.4 2.430 2.000 2.240 2.210 5171 KIMLUN 2.230 -0.050 57.3 2.231 10.01 2.91 715.0 1.680 1.300 — — 9628 LEBTECH 1.300 — — — 77.38 — 177.4 1.000 0.710 — — 5129 MELATI 0.760 — — — 35.85 1.32 91.2 2.560 1.210 1.790 1.770 8192 MERCURY 1.780 -0.050 7 1.782 6.14 6.74 71.5 0.575 0.300 0.325 0.325 5006 MERGE 0.325 -0.015 56.7 0.325 — — 21.8 1.930 0.840 1.730 1.580 7595 MGB 1.700 0.050 497.2 1.669 28.38 — 839.1 1.407 0.740 0.975 0.935 9571 MITRA 0.970 UNCH 525.8 0.957 6.02 5.15 668.8 0.425 0.210 0.245 0.245 5924 MTDACPI 0.245 -0.015 10.2 0.245 — — 56.8 1.670 0.780 0.900 0.890 5085 MUDAJYA 0.895 -0.020 363.5 0.894 — — 541.8 3.360 2.310 3.200 3.080 5703 MUHIBAH 3.110 -0.110 1474.7 3.109 11.72 1.77 1,499.4 0.690 0.470 0.530 0.505 7071 OCR 0.525 0.005 71.2 0.509 28.85 — 153.5 0.724 0.435 0.455 0.440 8311 PESONA 0.445 -0.005 588.9 0.449 13.73 4.49 309.2 1.194 0.900 1.060 1.030 5070 PRTASCO 1.030 -0.040 891.5 1.043 19.96 5.83 437.4 0.215 0.120 0.140 0.135 7145 PSIPTEK 0.135 -0.010 423.2 0.139 12.27 — 47.1 4.137 3.266 3.820 3.800 9598 PTARAS 3.800 -0.010 373.6 3.800 23.31 5.26 627.6 1.140 0.600 0.640 0.620 6807 PUNCAK 0.635 -0.015 159.4 0.631 — — 285.3 1.390 0.505 0.825 0.800 5205 SENDAI 0.820 -0.015 1322.3 0.816 — — 640.5 2.640 1.630 2.540 2.500 5263 SUNCON 2.530 -0.010 891.7 2.515 23.69 2.17 3,271.0 0.415 0.240 0.270 0.260 9717 SYCAL 0.265 UNCH 164 0.262 17.32 — 92.0 0.860 0.383 0.760 0.740 5054 TRC 0.740 -0.020 655.4 0.745 10.59 2.57 355.6 2.500 1.500 2.350 2.310 5622 TRIPLC 2.350 -0.020 89.9 2.324 10.69 — 162.4 0.825 0.460 0.520 0.520 5042 TSRCAP 0.520 0.030 0.1 0.520 13.44 — 90.7 0.200 0.110 0.170 0.165 7070 VIZIONE 0.170 UNCH 15980 0.169 54.84 — 601.6 1.680 1.050 1.150 1.130 3565 WCEHB 1.140 -0.020 119 1.139 31.32 — 1,143.1 2.467 1.460 1.590 1.520 9679 WCT 1.590 0.020 2487.8 1.545 21.69 — 2,250.8 0.805 0.535 0.715 0.700 7028 ZECON 0.705 -0.015 312.7 0.705 6.70 — 92.4 0.185 0.095 0.115 0.105 2283 ZELAN 0.105 -0.005 876.9 0.106 — — 88.7TRADING SERVICES 0.550 0.325 0.400 0.390 5238 AAX 0.390 -0.020 44730 0.396 52.00 — 1,617.8 0.290 0.135 — — 5166 AEGB 0.220 — — — — — 272.8 2.664 1.600 1.620 1.600 6599 AEON 1.610 -0.010 940.1 1.610 27.01 1.86 2,260.4 0.435 0.165 0.205 0.195 7315 AHB 0.200 -0.010 687 0.200 3.59 — 35.2 4.340 2.331 4.240 4.120 5099 AIRASIA 4.150 -0.150 10612.7 4.180 7.53 4.34 13,869.2 9.450 6.076 9.230 8.950 5014 AIRPORT 9.170 -0.010 1298 9.132 82.69 1.20 15,214.8 0.370 0.110 0.165 0.155 5115 ALAM 0.160 -0.005 1922.8 0.160 — — 147.9 0.140 0.070 0.085 0.080 0159 AMEDIA 0.080 -0.005 120 0.082 — — 19.2 8.180 6.953 7.850 7.690 6351 AMWAY 7.700 -0.190 27.7 7.833 24.98 2.60 1,265.8 2.340 2.100 2.130 2.130 7083 ANALABS 2.130 UNCH 24.8 2.130 13.40 0.47 127.9 0.055 0.005 0.015 0.010 5194 APFT 0.015 0.005 1723.7 0.011 — — 20.1 0.900 0.605 0.840 0.810 5210 ARMADA 0.835 -0.025 14882 0.829 — — 4,898.3 0.220 0.110 0.130 0.130 1481 ASB 0.130 UNCH 2205.5 0.130 39.39 1.92 120.8 2.906 2.415 2.590 2.530 6399 ASTRO 2.560 -0.010 2871.9 2.556 18.17 4.49 13,347.5 4.780 3.954 4.450 4.230 7048 ATLAN 4.420 -0.030 83.5 4.448 31.82 7.01 1,121.1 0.365 0.280 0.325 0.325 8885 AVI 0.325 -0.010 150 0.325 — — 279.0 1.168 0.785 0.825 0.785 7579 AWC 0.825 0.020 1349.6 0.817 10.14 2.42 224.5 5.820 4.175 5.660 5.560 6888 AXIATA 5.620 -0.080 8728.6 5.611 87.27 1.42 50,850.9 0.653 0.329 0.410 0.405 5021 AYS 0.405 -0.010 453 0.405 6.30 6.17 154.1 0.740 0.280 0.295 0.280 7251 BARAKAH 0.285 -0.010 3522.7 0.285 — — 235.5 2.449 1.807 2.220 2.130 5248 BAUTO 2.180 -0.040 739.4 2.172 28.39 4.13 2,530.1 0.280 0.160 0.170 0.165 6998 BINTAI 0.165 -0.005 279.1 0.169 — — 47.8 6.278 5.662 — — 5032 BIPORT 6.000 — — — 18.13 3.50 2,760.0 0.415 0.320 0.335 0.330 3395 BJCORP 0.335 UNCH 6838.1 0.332 — — 1,649.4 1.933 1.364 1.800 1.730 5196 BJFOOD 1.740 -0.070 763.5 1.748 51.94 2.68 664.2 0.620 0.330 0.335 0.330 4219 BJLAND 0.335 UNCH 122.3 0.334 31.31 — 1,675.1 0.470 0.185 0.250 0.235 6025 BJMEDIA 0.250 0.010 53.8 0.247 — — 58.8 2.835 2.175 2.310 2.270 1562 BJTOTO 2.280 -0.040 268.9 2.284 12.18 6.14 3,080.3 0.135 0.080 0.085 0.080 7036 BORNOIL 0.085 UNCH 19745.3 0.082 16.35 — 440.9 0.875 0.395 0.415 0.395 9474 BRAHIMS 0.395 -0.030 457.3 0.403 — — 93.3 3.038 2.457 2.890 2.820 2771 BSTEAD 2.870 -0.020 539.1 2.848 11.37 4.18 5,817.5 0.620 0.280 0.410 0.390 5257 CARIMIN 0.395 -0.025 2659.1 0.396 — — 92.4 2.200 1.278 1.730 1.690 5245 CARING 1.700 -0.030 28.7 1.700 21.57 1.76 370.1 3.063 1.980 2.170 2.130 2925 CCB 2.140 0.010 7 2.133 28.16 2.34 215.6 1.440 0.870 0.965 0.950 7117 CENTURY 0.950 -0.020 378.8 0.959 20.52 3.16 374.1 0.540 0.376 0.470 0.470 7209 CHEETAH 0.470 -0.010 5.8 0.470 82.46 1.28 60.0 1.468 0.853 1.120 1.100 5273 CHINHIN 1.100 -0.020 263 1.106 14.36 3.64 612.0 0.675 0.446 0.475 0.470 7016 CHUAN 0.470 -0.005 113 0.472 11.78 3.83 79.3 0.150 0.065 0.110 0.105 5104 CNI 0.105 -0.010 1702.4 0.108 — — 75.6 1.240 0.660 0.720 0.715 5136 COMPLET 0.720 -0.005 35 0.717 12.63 — 89.1 0.045 0.020 0.030 0.030 5037 COMPUGT 0.030 UNCH 1977.5 0.030 — — 70.4 2.820 2.054 2.640 2.560 5184 CYPARK 2.640 -0.010 376.5 2.605 12.04 1.97 689.6 0.865 0.410 0.425 0.420 5276 DANCO 0.425 UNCH 56.3 0.421 10.07 3.53 126.7 0.110 0.055 0.085 0.080 0091 DAYA 0.085 UNCH 9122.6 0.085 — — 173.7 0.895 0.535 0.750 0.725 5141 DAYANG 0.740 -0.030 1781 0.737 — — 714.0 1.190 0.746 1.050 1.020 5132 DELEUM 1.020 -0.040 170.7 1.032 14.23 3.19 408.2 0.840 0.425 0.615 0.580 7212 DESTINI 0.600 -0.020 4883.8 0.602 18.87 — 693.1 2.780 1.502 2.630 2.570 7277 DIALOG 2.610 -0.010 4699.6 2.603 31.87 1.02 14,724.7 5.292 3.820 3.860 3.830 5908 DKSH 3.850 -0.030 46.3 3.848 12.20 2.47 607.0 0.683 0.272 0.475 0.460 4456 DNEX 0.460 -0.020 13495.1 0.467 10.93 1.09 807.5 1.335 1.023 1.160 1.090 5216 DSONIC 1.090 -0.080 3048.6 1.120 24.06 3.67 1,471.5 0.295 0.135 0.140 0.135 2097 EASTLND 0.140 -0.005 675.1 0.139 — — 34.4 0.725 0.350 0.385 0.370 5259 EATECH 0.375 -0.015 883.5 0.378 — — 189.0 0.930 0.210 0.720 0.640 5036 EDARAN 0.700 0.010 330.2 0.670 — — 42.0 0.290 0.170 0.180 0.170 7471 EDEN 0.180 0.005 1149 0.173 — — 56.0 3.180 2.213 2.500 2.480 1368 EDGENTA 2.480 -0.020 291.2 2.498 21.03 3.23 2,062.4 0.590 0.240 0.285 0.280 0064 EFFICEN 0.280 -0.005 465.5 0.282 — — 198.6 0.955 0.631 0.670 0.660 5081 EIG 0.660 -0.005 25 0.664 18.44 4.55 156.5 2.087 1.149 1.620 1.620 5208 EITA 1.620 UNCH 4 1.620 10.57 3.09 210.6 1.508 1.060 1.080 1.060 5056 ENGTEX 1.060 -0.030 2135.9 1.067 6.39 0.71 469.9 0.605 0.370 0.510 0.505 6939 FIAMMA 0.510 0.005 14 0.508 11.62 3.43 270.3 0.465 0.355 0.435 0.425 9318 FITTERS 0.430 -0.010 766 0.428 — — 206.6 1.423 1.079 1.260 1.240 7210 FREIGHT 1.260 0.010 58 1.248 10.65 3.97 234.5 0.525 0.178 0.445 0.425 0128 FRONTKN 0.435 -0.020 12410 0.436 14.70 1.15 458.2 0.295 0.160 0.210 0.180 9377 FSBM 0.190 -0.035 52 0.191 — — 26.8 3.054 2.571 2.810 2.760 5209 GASMSIA 2.810 0.030 57.9 2.785 21.32 4.58 3,608.0 0.820 0.575 0.645 0.630 0078 GDEX 0.640 -0.005 1523.7 0.637 96.97 0.39 3,569.2 6.259 4.814 5.490 5.440 4715 GENM 5.440 -0.100 5347.7 5.464 12.84 1.88 32,303.0 9.960 8.008 9.480 9.340 3182 GENTING 9.360 -0.060 4047.1 9.386 14.65 1.23 36,053.4 0.330 0.185 — — 5079 GETS 0.230 — — — — — 29.0 4.090 2.689 3.900 3.670 3204 GKENT 3.850 -0.010 2829.9 3.758 18.94 1.86 2,168.6 0.555 0.360 0.380 0.375 7676 GUNUNG 0.380 -0.005 99 0.380 — — 89.7

5.590 2.718 5.350 5.200 7668 HAIO 5.320 -0.040 258.4 5.276 21.06 3.20 1,596.8 0.335 0.205 0.245 0.220 7253 HANDAL 0.230 -0.010 93.9 0.223 — — 36.8 9.980 8.217 9.780 9.660 3034 HAPSENG 9.700 -0.020 1021.3 9.725 22.65 3.61 24,149.9 0.876 0.646 0.810 0.780 2062 HARBOUR 0.810 -0.015 278.8 0.798 11.04 1.85 324.3 4.200 3.013 4.000 3.870 5008 HARISON 3.870 -0.130 58.8 3.957 11.91 6.46 265.1 1.770 0.495 1.630 1.590 0185 HSSEB 1.620 -0.030 626.3 1.616 31.83 0.49 516.9 0.195 0.050 0.110 0.100 7013 HUBLINE 0.100 -0.010 11538.7 0.104 — — 214.8 0.480 0.210 0.245 0.235 5255 ICON 0.240 -0.005 591.9 0.240 — — 282.5 6.318 5.420 6.010 5.960 5225 IHH 5.970 -0.060 8345.9 5.977 60.73 0.50 49,190.3 0.915 0.600 0.645 0.645 5614 ILB 0.645 -0.005 5 0.645 — — 125.8 0.905 0.670 — — 5673 IPMUDA 0.770 — — — — — 55.8 2.166 1.650 1.760 1.760 0058 JCBNEXT 1.760 UNCH 5.6 1.760 30.45 1.14 245.8 0.400 0.290 — — 8672 KAMDAR 0.395 — — — 13.04 — 78.2 1.862 1.550 1.580 1.550 6491 KFIMA 1.560 -0.020 4 1.563 20.16 5.77 440.3 0.900 0.301 0.840 0.805 0151 KGB 0.820 -0.020 1359 0.818 14.99 1.22 188.5 1.680 0.850 0.950 0.950 5035 KNUSFOR 0.950 UNCH 15 0.950 — — 94.7 1.140 0.900 0.945 0.930 5878 KPJ 0.940 UNCH 2505.4 0.939 21.76 1.89 4,024.8 1.678 1.080 1.290 1.250 5843 KPS 1.290 -0.010 127 1.259 16.93 4.84 643.7 0.570 0.500 0.500 0.500 9121 KPSCB 0.500 -0.010 9.7 0.500 8.73 — 73.9 0.225 0.125 0.135 0.130 4847 KTB 0.135 UNCH 291 0.130 — — 54.4 0.628 0.370 0.450 0.435 6874 KUB 0.440 -0.015 1400.1 0.440 9.87 2.27 244.8 0.340 0.170 0.190 0.170 7170 LFECORP 0.190 UNCH 6.7 0.173 — — 35.3 0.835 0.450 0.700 0.700 8486 LIONFIB 0.700 UNCH 80 0.700 5.87 — 162.1 0.890 0.720 0.765 0.755 5143 LUXCHEM 0.760 -0.020 367.8 0.760 14.05 3.07 642.7 0.372 0.165 0.185 0.185 5078 M&G 0.185 UNCH 48 0.185 — 27.03 133.9 2.114 1.605 1.860 1.800 3859 MAGNUM 1.850 0.020 1384.1 1.844 13.31 7.03 2,659.8 1.244 0.860 0.930 0.905 5264 MALAKOF 0.905 -0.035 12985.2 0.915 1.85 6.63 4,525.0 0.179 0.130 0.130 0.130 3514 MARCO 0.130 UNCH 1963.9 0.130 8.50 3.85 137.1 6.437 5.387 6.050 5.910 6012 MAXIS 6.010 -0.090 3407.3 6.007 21.38 3.33 46,941.5 0.955 0.670 0.795 0.780 5077 MAYBULK 0.780 -0.020 443.6 0.786 — — 780.0 2.576 2.010 2.380 2.350 5983 MBMR 2.360 -0.030 290.8 2.367 18.27 1.91 922.5 1.232 0.580 0.680 0.640 4502 MEDIA 0.640 -0.030 1234.1 0.652 — 12.50 709.9 0.603 0.370 0.380 0.375 5090 MEDIAC 0.375 -0.005 124.7 0.380 14.04 6.67 632.7 0.739 0.340 0.365 0.345 7234 MESB 0.360 0.005 358.9 0.354 — — 29.5 3.978 2.526 3.730 3.690 3069 MFCB 3.690 -0.050 547.6 3.704 9.29 1.36 1,516.2 1.160 0.625 0.795 0.770 5186 MHB 0.780 -0.035 1071.6 0.779 — — 1,248.0 7.900 6.960 7.560 7.110 3816 MISC 7.200 -0.370 3178.6 7.264 13.17 4.31 32,139.3 2.606 1.770 1.970 1.880 2194 MMCCORP 1.910 -0.060 374.8 1.898 14.28 2.09 5,816.1 0.440 0.230 0.350 0.330 0059 MMODE 0.330 -0.025 811.4 0.344 — — 53.7 0.100 0.040 0.050 0.045 0043 MTRONIC 0.050 UNCH 5477.6 0.050 — — 48.0 0.280 0.135 0.210 0.200 3891 MUIIND 0.210 -0.005 2641.4 0.205 — — 615.8 3.050 2.090 2.520 2.470 3905 MULPHA 2.480 -0.050 65.7 2.504 3.28 — 792.7 2.780 1.934 2.440 2.330 0138 MYEG 2.400 -0.060 9771.3 2.403 40.13 0.71 8,655.1 1.640 1.340 1.600 1.530 5275 MYNEWS 1.600 0.060 193.1 1.560 33.90 0.63 1,091.4 0.910 0.500 — — 9806 NATWIDE 0.520 — — — — — 62.5 0.495 0.350 0.375 0.370 7241 NGGB 0.375 UNCH 500.7 0.374 — — 171.9 0.140 0.050 0.060 0.055 4464 NICORP 0.055 -0.005 1712 0.057 — — 74.0 0.828 0.580 — — 5533 OCB 0.655 — — — 27.87 1.53 67.4 0.985 0.795 0.870 0.860 0172 OCK 0.870 UNCH 74.4 0.867 25.66 1.15 758.2 3.374 1.813 3.160 3.150 5201 OLDTOWN 3.150 UNCH 5259.5 3.150 21.74 2.22 1,459.2 0.210 0.085 0.130 0.125 3018 OLYMPIA 0.130 UNCH 131.8 0.129 4.15 — 133.0 2.160 1.120 1.380 1.320 5260 OWG 1.360 -0.030 331.6 1.353 52.31 — 363.3 0.515 0.380 0.485 0.465 8419 PANSAR 0.480 UNCH 473.2 0.476 21.15 2.08 134.4 0.734 0.436 0.640 0.620 5125 PANTECH 0.640 -0.010 1316 0.629 10.32 3.13 477.0 0.735 0.505 0.530 0.520 5657 PARKSON 0.520 -0.015 349.8 0.523 — — 568.8 1.288 1.115 1.170 1.160 5041 PBA 1.160 -0.010 51 1.168 6.77 3.45 384.3 0.165 0.085 0.095 0.085 6254 PDZ 0.090 -0.010 18282.1 0.090 — — 58.7 1.250 0.740 0.810 0.790 5133 PENERGY 0.790 -0.010 93 0.800 — 2.53 254.2 0.660 0.285 0.370 0.350 7108 PERDANA 0.360 -0.020 5922.5 0.360 — — 280.2 0.090 0.025 0.065 0.055 0047 PERISAI 0.060 -0.005 20869.8 0.060 — — 75.7 0.420 0.155 0.255 0.245 7080 PERMAJU 0.255 -0.005 3820.9 0.254 — — 50.0 2.070 1.510 1.750 1.680 5219 PESTECH 1.710 -0.050 1878.6 1.710 16.73 — 1,306.9 26.200 20.824 26.000 25.100 5681 PETDAG 25.700 0.220 1183.8 25.73 23.44 3.04 25,531.8 0.250 0.030 — — 7027 PETONE 0.055 — — — 3.53 — 2.8 5.085 3.650 4.140 4.100 7081 PHARMA 4.100 UNCH 15 4.116 34.08 3.90 1,065.3 0.189 0.105 0.120 0.105 7201 PICORP 0.120 UNCH 111 0.112 — 5.08 79.0 0.420 0.230 — — 7163 PJBUMI 0.255 — — — — — 20.9 5.665 3.862 4.920 4.890 4634 POS 4.900 -0.020 2116.1 4.899 38.25 2.18 3,835.6 2.416 1.190 1.680 1.630 5204 PRESBHD 1.650 -0.050 384.7 1.657 53.40 1.82 798.6 2.180 1.220 1.260 1.220 8346 PRKCORP 1.260 UNCH 22.9 1.222 — — 126.0 0.848 0.667 0.725 0.710 5272 RANHILL 0.715 -0.005 68.9 0.715 8.54 4.20 635.1 0.360 0.255 0.275 0.270 0037 RGB 0.275 UNCH 3476.2 0.271 13.61 2.18 368.9 1.408 0.734 0.910 0.910 5278 RHONEMA 0.910 -0.010 5 0.910 16.28 2.75 151.1 0.687 0.390 0.465 0.450 8567 SALCON 0.455 -0.015 1401.8 0.456 — — 308.4 1.270 0.754 1.140 1.110 5147 SAMCHEM 1.110 -0.060 1461.2 1.122 14.80 3.38 301.9 0.315 0.140 0.185 0.170 9113 SANBUMI 0.180 -0.010 480 0.175 — — 40.7 2.100 0.665 0.720 0.695 5218 SAPNRG 0.705 -0.030 66189.4 0.707 — 1.42 4,224.5 2.338 1.580 1.720 1.660 0099 SCICOM 1.660 -0.030 442.5 1.689 13.08 5.42 590.1 0.430 0.200 0.260 0.245 7158 SCOMI 0.250 -0.010 3119.8 0.251 — — 239.7 0.270 0.090 0.125 0.120 7045 SCOMIES 0.125 UNCH 623.3 0.120 — — 292.7 1.600 0.930 1.400 1.330 7053 SEEHUP 1.400 0.040 6.1 1.338 — — 112.6 0.730 0.598 0.650 0.640 9792 SEG 0.650 UNCH 327.2 0.644 21.81 5.38 821.8 1.750 1.120 1.570 1.540 5250 SEM 1.570 0.010 406.7 1.554 39.95 1.46 1,936.4 3.660 1.465 3.580 3.390 5279 SERBADK 3.520 0.010 2341.6 3.489 13.31 — 5,169.1 3.060 2.040 2.940 2.830 4197 SIME 2.930 -0.030 13106.2 2.916 12.55 7.85 19,926.5 0.720 0.600 — — 9431 SJC 0.680 — — — — 1.47 27.6 0.588 0.320 0.325 0.320 5242 SOLID 0.325 0.005 150.3 0.320 33.51 1.05 127.0 2.151 1.310 1.390 1.370 6084 STAR 1.370 -0.020 136.8 1.382 3.88 10.95 1,011.8 3.079 2.320 — — 9865 SUIWAH 2.320 — — — 13.58 0.43 141.5 0.130 0.045 0.080 0.075 1201 SUMATEC 0.075 -0.010 56414 0.076 — — 319.0 1.918 1.580 1.720 1.690 5211 SUNWAY 1.710 -0.010 3358.1 1.706 12.77 2.75 8,411.4 2.257 1.790 1.810 1.790 6521 SURIA 1.800 -0.020 46 1.800 9.88 3.89 518.7 0.345 0.220 0.230 0.225 5173 SYSCORP 0.230 -0.005 410.1 0.227 23.23 — 276.0 0.665 0.315 0.635 0.595 7228 T7GLOBAL 0.620 0.005 14993.2 0.622 21.60 — 260.1 1.691 1.002 1.070 1.040 8524 TALIWRK 1.040 -0.030 222 1.054 23.06 7.69 1,257.9 2.667 1.526 2.050 2.000 5140 TASCO 2.010 -0.020 97.5 2.020 12.29 2.24 402.0 16.120 12.465 15.860 15.560 5347 TENAGA 15.820 0.020 11402.3 15.79 12.24 3.86 89,635.9 1.404 0.829 0.900 0.850 8702 TEXCHEM 0.900 0.015 57 0.887 34.35 11.11 111.7 0.170 0.045 0.100 0.095 7206 THHEAVY 0.095 -0.005 2131.4 0.095 — — 106.5 6.586 5.707 6.190 6.020 4863 TM 6.130 -0.080 2754.9 6.077 28.50 3.52 23,036.1 0.985 0.730 0.845 0.825 0101 TMCLIFE 0.845 -0.005 314.6 0.826 52.81 0.20 1,467.2 1.806 1.190 1.200 1.190 8397 TNLOGIS 1.200 UNCH 189.4 1.196 7.43 1.67 552.4 1.060 0.500 0.650 0.640 7218 TOCEAN 0.640 -0.015 10 0.645 — — 26.2 1.000 0.730 — — 5167 TURBO 0.765 — — — 19.67 — 82.6 2.844 2.460 2.610 2.540 7137 UMS 2.590 -0.020 33.9 2.578 18.84 2.32 105.4 0.697 0.270 0.330 0.315 5243 UMWOG 0.325 -0.010 49087 0.323 — — 2,670.1 1.294 0.995 1.040 1.020 7091 UNIMECH 1.030 -0.020 46.2 1.028 14.86 2.91 135.1 0.730 0.350 — — 5754 UTUSAN 0.490 — — — — — 54.3 1.980 1.260 1.450 1.350 7250 UZMA 1.400 -0.050 772 1.381 13.38 — 448.0 1.240 0.600 0.805 0.775 7240 VERTICE 0.805 UNCH 20.4 0.790 — — 116.9 2.140 1.724 2.000 2.000 5016 WARISAN 2.000 UNCH 0.3 2.000 38.68 1.50 134.4 0.620 0.450 — — 7692 WIDETEC 0.560 — — — 23.33 — 25.1 4.111 3.340 3.470 3.370 5246 WPRTS 3.370 -0.120 609.9 3.397 19.30 3.88 11,491.7 1.448 1.020 1.230 1.130 5267 XINHWA 1.170 -0.040 179.5 1.164 24.63 0.85 252.7 0.075 0.020 0.025 0.025 7122 YFG 0.025 UNCH 922 0.025 — — 15.2 4.400 3.002 4.190 4.000 7293 YINSON 4.140 -0.050 716.8 4.106 15.74 0.97 4,524.2 1.550 1.090 1.520 1.490 4677 YTL 1.500 -0.040 6443 1.500 20.13 3.33 16,365.8FINANCE 4.410 3.539 4.300 4.150 2488 ABMB 4.290 -0.040 1377.2 4.266 13.02 3.73 6,641.4 14.600 11.782 13.560 13.400 5139 AEONCR 13.540 -0.160 171.6 13.53 67.36 3.16 3,363.7 2.888 2.193 2.580 2.530 5185 AFFIN 2.540 -0.050 377.4 2.560 9.61 2.76 4,935.1 15.458 10.721 13.100 12.800 1163 ALLIANZ 12.820 -0.280 16.3 13.03 7.65 0.94 2,245.8 5.485 4.011 4.690 4.550 1015 AMBANK 4.580 -0.160 3603.3 4.587 10.52 3.84 13,805.0 1.950 1.273 — — 5088 APEX 1.580 — — — 22.80 3.16 337.4 4.461 3.980 4.310 4.130 5258 BIMB 4.150 -0.250 244.2 4.192 11.04 3.37 7,028.3 11.020 7.782 11.000 10.600 1818 BURSA 10.880 UNCH 843.2 10.83 26.76 3.40 5,848.0 7.360 4.708 7.130 6.950 1023 CIMB 7.090 -0.160 30825.3 7.086 14.84 3.53 65,409.1 0.705 0.340 0.500 0.475 2143 ECM 0.500 -0.010 11.9 0.475 178.57 — 143.3 1.220 1.112 1.160 1.160 5228 ELKDESA 1.160 UNCH 13.4 1.160 11.78 5.82 346.2 18.800 12.783 18.760 18.180 5819 HLBANK 18.600 -0.200 1477.3 18.59 16.98 2.42 40,319.6 10.100 7.327 — — 5274 HLCAP 9.790 — — — 29.92 1.94 2,417.1 19.240 14.330 19.000 18.660 1082 HLFG 18.980 -0.020 1607.5 18.94 13.78 2.00 21,779.9 1.129 0.767 0.955 0.930 3379 INSAS 0.940 -0.020 1737.8 0.940 3.85 1.06 651.7 0.400 0.165 0.310 0.295 3441 JOHAN 0.305 -0.005 3578.7 0.302 — — 190.0 0.690 0.439 0.620 0.600 6483 KENANGA 0.620 -0.005 282.7 0.606 31.31 3.63 448.0 19.900 15.981 19.500 19.200 8621 LPI 19.200 -0.320 76.2 19.39 20.31 3.75 6,374.1 0.857 0.730 0.770 0.730 1198 MAA 0.765 UNCH 52.7 0.746 8.53 11.76 209.2 3.320 2.895 3.290 3.290 1058 MANULFE 3.290 UNCH 1.6 3.290 13.46 3.19 665.8 10.240 7.665 10.100 9.860 1155 MAYBANK 10.020 -0.080 16510.6 10.05 13.21 5.49 108,539 1.380 1.010 1.240 1.180 1171 MBSB 1.210 -0.030 12593 1.213 17.02 2.48 7,168.6 2.840 2.190 2.610 2.500 6459 MNRB 2.600 -0.030 100 2.588 7.79 — 831.0 1.850 1.210 1.430 1.350 5237 MPHBCAP 1.430 -0.020 832 1.402 15.38 — 1,022.5 1.340 1.200 1.270 1.270 6009 P&O 1.270 -0.010 1.2 1.270 39.32 6.69 312.4 22.620 19.360 22.020 21.720 1295 PBBANK 21.980 -0.020 6008.4 21.97 15.52 2.68 85,329.4 1.850 1.378 1.500 1.470 9296 RCECAP 1.480 -0.040 224 1.488 5.82 2.03 526.9 5.610 4.710 5.430 5.280 1066 RHBBANK 5.300 -0.190 3746.5 5.303 12.13 2.26 21,253.2 0.708 0.475 0.645 0.630 4898 TA 0.640 -0.010 920.2 0.632 3.00 2.66 1,095.6 4.080 3.226 3.660 3.560 6139 TAKAFUL 3.580 -0.110 91 3.614 14.25 4.19 2,946.9 1.620 0.980 1.020 1.010 5230 TUNEPRO 1.020 -0.010 1382.1 1.014 14.15 5.10 766.8PROPERTIES 0.852 0.705 0.720 0.705 1007 AMPROP 0.720 0.010 20.8 0.717 12.44 4.17 438.3 0.409 0.330 0.350 0.335 1007PA AMPROP-PA 0.350 UNCH 35.2 0.344 — 5.71 101.4 1.850 1.140 1.350 1.350 5959 AMVERTON 1.350 UNCH 15 1.350 28.30 — 492.8 0.230 0.150 0.160 0.155 4057 ASIAPAC 0.160 UNCH 720 0.156 10.19 — 165.1 7.600 6.200 — — 2305 AYER 6.200 — — — 29.62 0.81 464.1 0.525 0.430 — — 6602 BCB 0.465 — — — 22.36 — 191.8 0.793 0.590 0.605 0.590 6173 BDB 0.595 -0.010 19.9 0.598 6.98 7.56 180.8 0.605 0.375 — — 9814 BERTAM 0.410 — — — 1.66 — 84.8 0.700 0.400 0.415 0.405 3239 BJASSET 0.415 UNCH 773 0.411 6.42 — 1,061.6 1.500 1.130 1.240 1.170 5738 CHHB 1.180 -0.120 39.3 1.180 — — 325.3 1.673 1.363 1.460 1.460 6718 CRESNDO 1.460 0.010 6 1.460 9.26 4.11 409.5 1.720 1.460 — — 5049 CVIEW 1.650 — — — 5.86 9.09 165.0 2.375 2.093 2.170 2.150 5355 DAIMAN 2.150 -0.030 15 2.157 21.39 2.56 456.2 0.993 0.477 0.505 0.500 3484 DBHD 0.505 -0.010 98 0.505 — — 158.8

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


2 7




0.115 0.075 0.085 0.080 7198 DPS 0.080 UNCH 741.4 0.085 — — 47.0 2.089 1.350 1.440 1.420 3417 E&O 1.440 -0.010 136.6 1.431 15.19 2.08 1,910.5 0.325 0.255 0.295 0.290 3557 ECOFIRS 0.295 -0.005 1050.1 0.292 12.61 — 236.9 1.720 1.350 1.390 1.360 8206 ECOWLD 1.390 -0.010 1088.8 1.378 18.89 — 4,092.7 0.920 0.600 0.660 0.635 6076 ENCORP 0.645 -0.010 472.6 0.645 12.40 — 189.6 3.180 2.290 2.820 2.790 8613 ENRA 2.820 0.200 3 2.803 36.67 1.06 384.1 1.300 0.770 0.960 0.930 6815 EUPE 0.960 -0.010 50.1 0.941 39.51 — 122.9 0.863 0.400 0.410 0.400 7249 EWEIN 0.410 -0.005 442.8 0.405 9.19 1.22 123.6 1.360 0.955 1.080 1.060 5283 EWINT 1.080 -0.020 414.6 1.074 — — 2,592.0 0.617 0.475 0.495 0.495 6041 FARLIM 0.495 -0.005 39 0.495 7.60 4.04 69.5 0.647 0.500 0.520 0.500 5020 GLOMAC 0.510 -0.015 174.9 0.509 51.00 5.35 408.0 0.511 0.368 — — 9962 GMUTUAL 0.395 — — — 10.13 5.06 148.4 0.470 0.305 0.320 0.305 1147 GOB 0.320 UNCH 916.5 0.314 23.36 1.56 145.5 0.150 0.090 0.115 0.110 7077 GSB 0.110 -0.005 208 0.113 — — 58.1 1.426 1.030 1.070 1.030 1503 GUOCO 1.070 UNCH 256.4 1.040 82.95 1.87 749.5 1.430 0.829 1.260 1.220 7105 HCK 1.260 -0.010 12 1.226 96.92 — 530.7 1.210 0.400 — — 7010 HOOVER 0.700 — — — 112.9 — 28.0 1.160 0.595 0.610 0.595 5062 HUAYANG 0.595 -0.015 224.1 0.603 19.01 6.72 209.4 0.648 0.510 0.525 0.520 4251 IBHD 0.525 UNCH 167.8 0.520 7.46 3.58 529.3 0.953 0.680 0.740 0.705 5084 IBRACO 0.705 -0.040 3.1 0.739 27.22 2.84 350.0 0.890 0.595 0.670 0.600 9687 IDEAL 0.670 0.010 36.5 0.660 3.96 — 74.0 3.000 2.337 — — 1597 IGB 2.970 — — — 13.29 3.37 4,072.9 2.158 1.790 2.010 1.960 5249 IOIPG 2.000 -0.030 1355.6 1.996 11.18 3.00 11,012.3 0.620 0.300 0.305 0.300 5175 IVORY 0.305 -0.005 70.8 0.305 13.68 — 149.5 3.290 0.880 1.370 1.350 1589 IWCITY 1.370 UNCH 1361.9 1.366 40.77 — 1,147.2 0.390 0.245 0.375 0.345 8923 JIANKUN 0.375 UNCH 444 0.369 — — 62.6 0.143 0.085 0.095 0.090 6769 JKGLAND 0.095 0.005 2750.5 0.090 10.33 2.42 216.1 0.085 0.050 0.070 0.070 3115 KBUNAI 0.070 UNCH 11734 0.070 13.46 — 404.4 1.100 0.828 0.895 0.895 7323 KEN 0.895 UNCH 1.5 0.895 3.83 2.79 171.6 1.330 0.995 1.050 1.010 5038 KSL 1.050 0.010 392 1.025 3.69 — 1,089.4 0.268 0.205 0.210 0.205 3174 L&G 0.210 UNCH 4580.8 0.208 6.75 — 615.4 1.287 1.000 1.030 1.000 8494 LBICAP 1.030 UNCH 11.2 1.015 542.11 10.19 83.2 2.480 1.675 2.370 2.320 5789 LBS 2.360 -0.010 140.4 2.347 14.39 1.69 1,642.1 0.460 0.235 0.350 0.345 3573 LIENHOE 0.350 -0.010 36.4 0.350 — — 126.6 1.680 1.180 1.260 1.200 7617 MAGNA 1.200 -0.060 18 1.230 — 5.00 401.9 1.590 1.319 1.400 1.360 8583 MAHSING 1.360 -0.040 811.2 1.373 10.18 4.78 3,301.5 1.892 0.722 0.930 0.915 6181 MALTON 0.930 -0.010 978 0.925 5.74 2.69 491.2 2.280 2.160 2.190 2.160 5236 MATRIX 2.180 -0.010 388.4 2.181 8.60 5.34 1,623.1 2.310 1.268 2.170 2.100 7189 MBWORLD 2.100 -0.070 43.8 2.121 8.45 1.67 330.5 1.200 0.755 0.875 0.875 5182 MCT 0.875 UNCH 482 0.875 18.82 — 1,167.9 0.525 0.395 0.490 0.450 5040 MEDAINC 0.465 -0.005 557.7 0.470 — — 229.0 0.567 0.455 0.470 0.460 1694 MENANG 0.465 UNCH 94.4 0.463 20.58 — 223.6 0.605 0.285 0.330 0.315 8141 MJPERAK 0.330 0.005 158 0.317 — 6.48 84.8 2.539 1.583 1.670 1.630 6114 MKH 1.650 -0.030 366.4 1.653 5.92 3.03 967.8 0.360 0.225 0.230 0.225 8893 MKLAND 0.225 -0.005 196.6 0.226 14.80 — 271.6 0.215 0.095 — — 6548 MPCORP 0.120 — — — — — 34.5 1.536 0.870 1.160 1.100 1651 MRCB 1.100 -0.070 19399.9 1.125 10.76 2.18 4,829.9 1.080 0.525 0.580 0.580 9539 MUH 0.580 -0.020 20 0.580 — — 32.7 0.365 0.240 0.255 0.240 3913 MUIPROP 0.255 UNCH 720.1 0.255 212.50 — 194.8 1.720 1.010 1.030 1.010 5073 NAIM 1.020 -0.010 172.2 1.016 — — 255.0 2.881 2.192 2.250 2.230 5827 OIB 2.230 -0.020 16.7 2.244 8.26 3.14 323.1 1.116 1.020 1.040 1.020 5053 OSK 1.040 UNCH 928.5 1.033 5.19 4.81 2,179.1 1.980 1.476 1.900 1.900 1724 PARAMON 1.900 -0.010 237.1 1.900 5.79 4.47 806.2 0.695 0.490 0.575 0.575 6912 PASDEC 0.575 -0.010 95.3 0.575 — — 164.4 1.983 1.051 — — 7055 PLB 1.820 — — — 49.73 0.44 204.6 1.766 1.470 1.530 1.470 5075 PLENITU 1.480 -0.070 128.1 1.481 9.70 3.04 564.7 0.425 0.255 0.390 0.385 2208 PTGTIN 0.390 UNCH 202.2 0.390 — — 135.0 1.270 0.800 0.865 0.860 4596 SAPRES 0.865 0.005 56 0.862 9.17 3.47 120.8 0.820 0.520 0.525 0.520 5207 SBCCORP 0.525 -0.005 3.5 0.521 — — 123.3 1.012 0.675 0.880 0.870 2224 SDRED 0.870 -0.010 148.5 0.875 6.86 2.87 370.7 0.580 0.400 0.430 0.420 4286 SEAL 0.430 0.005 71 0.426 — — 104.5 2.860 2.620 2.620 2.620 6017 SHL 2.620 UNCH 7 2.620 7.82 — 634.4 1.780 1.040 1.550 1.490 5288 SIMEPROP 1.530 -0.020 9533.5 1.517 1.71 — 10,405.3 0.305 0.140 0.190 0.190 4375 SMI 0.190 UNCH 142 0.190 1.48 — 39.9 0.907 0.580 0.610 0.580 5213 SNTORIA 0.600 -0.020 554.5 0.597 8.93 — 340.4 5.500 4.211 4.860 4.830 1783 SPB 4.860 UNCH 28 4.855 18.03 2.47 1,670.0 4.151 3.070 3.310 3.140 8664 SPSETIA 3.280 0.060 5402.7 3.222 11.01 5.94 11,244.3 1.590 0.980 1.270 1.260 3743 SUNSURIA 1.260 -0.010 27.4 1.270 11.10 — 1,006.5 1.035 0.638 0.770 0.745 1538 SYMLIFE 0.770 0.005 233.2 0.763 5.65 3.90 238.7 0.510 0.280 0.295 0.285 4022 TADMAX 0.290 -0.010 1214.1 0.291 — — 156.2 0.410 0.265 0.365 0.355 5158 TAGB 0.360 UNCH 1096.7 0.359 6.24 1.11 1,915.8 0.055 0.035 0.045 0.040 2259 TALAMT 0.045 UNCH 1076 0.045 — — 189.9 1.423 0.940 0.950 0.940 5191 TAMBUN 0.940 -0.010 406 0.944 3.93 10.64 407.3 0.165 0.060 0.125 0.125 2429 TANCO 0.125 UNCH 359.5 0.125 — — 82.7 0.315 0.200 — — 7889 THRIVEN 0.215 — — — — — 81.0 0.085 0.035 0.040 0.035 7079 TIGER 0.040 UNCH 5120 0.039 — — 67.3 0.910 0.650 0.675 0.660 5239 TITIJYA 0.675 0.005 281.5 0.668 6.83 0.37 907.5 1.060 0.880 0.910 0.895 5401 TROP 0.900 -0.010 355.8 0.898 8.74 1.78 1,323.4 1.360 1.010 1.130 1.100 5148 UEMS 1.130 UNCH 3938.8 1.114 17.36 — 5,127.3 2.700 2.247 2.510 2.480 5200 UOADEV 2.500 -0.030 334.1 2.500 6.29 6.00 4,335.6 0.525 0.210 0.265 0.245 6378 WMG 0.265 -0.010 37.7 0.247 — — 112.9 1.110 0.905 — — 7003 Y&G 0.950 — — — 33.93 — 189.4 1.620 1.300 1.410 1.370 3158 YNHPROP 1.400 UNCH 61.2 1.399 25.36 — 740.6 1.750 1.240 1.510 1.480 7066 YONGTAI 1.500 -0.030 2500.1 1.497 37.22 — 721.8 0.670 0.500 0.510 0.505 2577 YTLLAND 0.510 UNCH 134.3 0.508 8.16 — 430.6MINING 2.820 1.170 2.250 2.180 2186 KUCHAI 2.220 -0.020 379.6 2.218 5.53 0.44 274.7PLANTATIONS 0.285 0.190 0.195 0.190 7054 AASIA 0.190 -0.010 119.1 0.195 — — 125.4 20.100 18.247 19.720 19.620 1899 BKAWAN 19.640 -0.060 2.3 19.65 13.54 3.05 8,562.1 8.639 8.250 8.260 8.250 5069 BLDPLNT 8.250 -0.020 10 8.255 36.11 0.48 771.4 1.720 1.461 1.680 1.660 5254 BPLANT 1.670 -0.010 1529 1.670 3.93 7.19 2,672.0 1.000 0.776 0.805 0.795 8982 CEPAT 0.805 -0.005 129.6 0.798 8.60 1.86 256.3 8.141 7.268 7.800 7.800 1929 CHINTEK 7.800 UNCH 1 7.800 18.56 2.56 712.6 0.735 0.415 0.565 0.550 3948 DUTALND 0.560 -0.010 1232 0.561 164.71 — 473.8 9.693 7.821 — — 5029 FAREAST 8.720 — — — 9.12 3.44 1,232.9 2.180 1.468 1.960 1.880 5222 FGV 1.880 -0.090 17868.9 1.916 34.43 0.53 6,858.5 11.614 9.950 10.080 9.950 2291 GENP 10.020 -0.100 487.2 10.02 18.86 1.35 8,050.5 0.658 0.540 0.570 0.570 7382 GLBHD 0.570 0.010 2 0.570 380.00 1.75 127.1 1.440 1.105 1.400 1.360 2135 GOPENG 1.360 -0.020 112.8 1.369 48.23 2.94 243.9 0.890 0.605 — — 7501 HARNLEN 0.625 — — — 18.71 — 115.9 2.700 2.550 2.550 2.550 5138 HSPLANT 2.550 UNCH 33.3 2.550 15.23 5.69 2,040.0 3.519 2.330 2.380 2.330 2216 IJMPLNT 2.340 -0.060 50 2.346 28.68 2.99 2,060.6 0.940 0.650 0.700 0.685 2607 INCKEN 0.700 -0.010 41.5 0.687 — 1.60 294.5 1.452 1.026 1.090 1.060 6262 INNO 1.090 0.030 11 1.076 13.97 1.83 522.0 4.757 4.310 4.680 4.590 1961 IOICORP 4.650 -0.050 4169.8 4.639 29.83 2.04 29,219.9 1.460 1.000 1.090 1.070 4383 JTIASA 1.080 UNCH 1506.2 1.078 49.32 0.46 1,051.6 25.400 23.507 25.260 24.780 2445 KLK 25.140 -0.120 2087.3 25.09 26.62 1.99 26,837.1 5.000 2.982 4.250 4.250 2453 KLUANG 4.250 -0.030 0.5 4.250 63.81 0.24 268.5 4.835 3.240 4.200 4.050 5027 KMLOONG 4.200 0.090 145.6 4.077 13.57 4.05 1,309.6 0.770 0.515 0.735 0.695 1996 KRETAM 0.720 -0.005 2383.7 0.720 48.32 1.39 1,675.9 1.750 1.350 1.390 1.390 6572 KWANTAS 1.390 -0.010 102.5 1.390 10.90 — 433.2 1.490 1.120 1.120 1.120 4936 MALPAC 1.120 -0.080 2 1.120 — — 84.0 0.949 0.790 0.830 0.825 5026 MHC 0.825 -0.005 95.3 0.830 10.24 1.82 162.1 2.388 1.700 — — 5047 NPC 1.900 — — — 6.37 0.53 228.0 4.206 3.671 — — 2038 NSOP 3.890 — — — 31.50 1.54 273.1 0.315 0.185 0.205 0.200 1902 PINEPAC 0.200 -0.005 38.8 0.202 — — 30.0 1.380 0.850 — — 9695 PLS 0.865 — — — — — 282.6 0.550 0.345 0.360 0.355 5113 RSAWIT 0.360 UNCH 228.3 0.356 — — 510.7 4.000 3.341 — — 2542 RVIEW 3.700 — — — 13.79 2.16 239.9 4.180 2.931 — — 2569 SBAGAN 3.580 — — — — 0.56 237.5 0.720 0.510 — — 4316 SHCHAN 0.530 — — — — — 63.6 6.000 4.580 5.520 5.410 5285 SIMEPLT 5.490 -0.060 6398.1 5.496 10.23 — 37,336.6 4.720 3.480 3.780 3.710 5126 SOP 3.710 -0.070 122.9 3.744 9.10 1.35 2,117.7 1.890 1.520 1.790 1.780 5135 SWKPLNT 1.790 -0.010 26 1.788 14.46 — 501.2 0.730 0.435 0.465 0.450 2054 TDM 0.455 -0.010 349.5 0.460 413.64 1.10 754.3 1.184 1.020 1.050 1.030 5112 THPLANT 1.040 -0.020 77 1.032 5.84 1.54 919.2 1.918 1.560 1.650 1.610 9059 TSH 1.650 UNCH 137.1 1.641 31.91 1.21 2,280.0 7.015 5.604 6.430 6.390 2593 UMCCA 6.430 UNCH 61.4 6.409 16.44 2.80 1,348.1 28.680 25.724 28.680 27.940 2089 UTDPLT 28.680 UNCH 1.9 28.20 14.88 1.39 5,969.3HOTELS 0.628 0.505 0.580 0.580 5592 GCE 0.580 0.065 6.5 0.580 — 3.45 114.3 1.000 0.690 0.835 0.810 1643 LANDMRK 0.810 -0.035 1062.8 0.821 — — 428.4 0.230 0.125 0.145 0.135 1287 PMHLDG 0.145 UNCH 2282 0.144 362.50 — 134.7 5.588 4.800 5.050 4.800 5517 SHANG 5.050 0.100 87 4.890 28.84 2.77 2,222.0TECHNOLOGY 0.880 0.600 0.670 0.670 7031 AMTEL 0.670 -0.030 18 0.670 — — 33.0 0.420 0.210 0.240 0.230 5195 CENSOF 0.230 -0.010 806.3 0.232 — — 115.4 0.665 0.170 0.520 0.480 0051 CUSCAPI 0.510 -0.015 9692.2 0.503 — — 267.8 0.800 0.317 0.635 0.615 7204 D&O 0.625 -0.015 1039.3 0.623 41.12 — 628.6 0.710 0.165 0.300 0.280 8338 DATAPRP 0.290 -0.015 2924.7 0.290 — — 122.2 0.235 0.115 0.125 0.115 0029 DIGISTA 0.115 -0.005 1936.6 0.119 — — 75.7 1.543 1.210 1.270 1.250 5162 ECS 1.270 -0.030 19 1.261 8.36 4.33 228.6 1.670 0.666 1.470 1.430 0065 EFORCE 1.460 -0.040 840 1.451 92.41 0.86 604.2 2.895 1.478 2.660 2.600 0090 ELSOFT 2.610 -0.070 330.1 2.627 23.26 1.92 718.8 1.870 0.900 1.480 1.450 0021 GHLSYS 1.460 -0.060 119.1 1.464 47.71 0.34 962.8 0.590 0.245 0.545 0.525 0082 GPACKET 0.545 -0.005 3864.8 0.534 — — 413.5 0.280 0.185 0.225 0.220 0056 GRANFLO 0.225 UNCH 631 0.221 15.52 — 108.7 7.050 4.026 6.100 5.950 7022 GTRONIC 6.090 -0.010 985.6 6.066 53.05 0.66 1,738.9 0.940 0.541 0.725 0.710 5028 HTPADU 0.710 -0.045 52.5 0.718 8.39 7.04 71.9 3.820 1.938 3.160 2.980 0166 INARI 3.130 -0.040 23099 3.082 24.84 2.75 6,452.7 0.435 0.130 0.215 0.200 9393 ITRONIC 0.210 -0.005 239.1 0.209 — — 21.6 0.668 0.415 0.425 0.420 5161 JCY 0.420 -0.010 938.5 0.421 21.11 8.93 872.3 22.635 9.374 19.240 17.520 9334 KESM 19.200 -0.200 200.6 18.38 18.21 0.65 825.9 0.340 0.080 0.205 0.190 0143 KEYASIC 0.195 -0.015 12581 0.197 — — 173.7 14.410 7.969 9.650 9.200 3867 MPI 9.430 0.030 561.2 9.385 11.15 3.08 1,979.2 1.467 1.013 1.250 1.200 5011 MSNIAGA 1.250 -0.040 11 1.241 13.24 4.00 75.5 1.327 0.455 0.650 0.630 0083 NOTION 0.645 -0.020 1395.2 0.641 14.21 4.26 213.3 0.605 0.435 0.500 0.490 9008 OMESTI 0.500 -0.020 311.2 0.496 — — 215.5 0.375 0.225 0.240 0.235 0041 PANPAGE 0.240 UNCH 258.2 0.240 — — 63.7 3.140 0.693 2.500 2.390 7160 PENTA 2.470 -0.070 3478.6 2.465 22.05 — 782.0 0.675 0.260 0.455 0.435 9075 THETA 0.455 -0.010 122.2 0.442 — — 48.8 0.232 0.040 0.045 0.040 0118 TRIVE 0.040 -0.005 3248.2 0.043 80.00 — 75.3 4.158 2.436 2.900 2.820 5005 UNISEM 2.850 -0.080 2667.7 2.840 11.69 3.86 2,091.4

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)

6.880 1.865 6.090 5.740 0097 VITROX 5.970 -0.140 630.4 5.955 34.47 0.59 2,806.9 1.750 0.764 1.120 1.100 0008 WILLOW 1.110 -0.010 96.5 1.104 12.98 1.80 275.3INFRASTRUCTURE PROJECT COMPANIES 5.100 4.360 4.960 4.870 6947 DIGI 4.930 -0.050 6898.2 4.909 25.95 3.81 38,330.8 6.000 5.400 5.770 5.550 6645 LITRAK 5.700 -0.150 77 5.604 13.88 5.26 3,008.0 9.900 7.754 8.650 8.560 5031 TIMECOM 8.620 -0.120 1734.9 8.619 21.53 2.31 5,012.1 1.443 1.110 1.240 1.210 6742 YTLPOWR 1.210 -0.030 2441.1 1.219 14.17 4.13 9,870.6CLOSED-END FUNDS 2.880 2.390 2.770 2.750 5108 ICAP 2.770 UNCH 40.7 2.767 136.45 — 387.8EXCHANGE TRADED FUNDS 1.151 1.100 — — 0800EA ABFMY1 1.146 — — — — 4.96 1,450.2 2.210 1.835 2.020 2.020 0822EA CIMBA40 2.020 -0.015 2 2.020 — 3.66 5.5 1.845 1.370 1.780 1.740 0823EA CIMBC50 1.780 -0.010 64.2 1.769 — — 17.4 1.930 1.740 — — 0820EA FBMKLCI-EA 1.930 — — — — 1.71 3.2 1.775 1.705 1.745 1.735 0828EA GOLDETF 1.735 -0.010 150 1.738 — — 34.0 1.100 1.000 — — 0826EA METFAPA 1.070 — — — — — 20.3 0.945 0.886 — — 0825EA METFSID 0.918 — — — — 2.55 48.7 1.180 1.060 — — 0821EA MYETFDJ 1.160 — — — — 1.92 309.4 1.175 1.015 — — 0824EA MYETFID 1.170 — — — — 1.30 45.9REITS 0.963 0.800 — — 4952 AHP 0.815 — — — 10.30 6.38 179.3 1.615 1.310 1.380 1.370 5116 ALAQAR 1.370 -0.010 2.4 1.374 16.19 5.62 997.7 1.040 0.965 0.990 0.970 5269 ALSREIT 0.975 UNCH 16.9 0.976 11.65 6.15 565.5 0.790 0.665 0.670 0.665 5120 AMFIRST 0.670 0.005 581.9 0.669 18.66 6.34 459.9 0.949 0.900 0.905 0.900 5127 ARREIT 0.905 -0.005 42 0.905 13.15 6.15 518.8 1.189 1.025 — — 5130 ATRIUM 1.100 — — — 21.61 6.50 134.0 1.645 1.360 1.400 1.360 5106 AXREIT 1.370 UNCH 2044 1.369 12.49 5.47 1,688.3 1.830 1.350 1.380 1.360 5180 CMMT 1.380 UNCH 94 1.379 17.34 5.96 2,812.1 1.532 1.140 1.240 1.210 5121 HEKTAR 1.220 -0.010 86.6 1.220 15.33 9.37 563.6 1.800 1.550 1.610 1.590 5227 IGBREIT 1.600 UNCH 1225.3 1.602 16.31 5.80 5,630.1 0.991 0.825 0.855 0.835 5280 KIPREIT 0.835 -0.015 406.7 0.839 13.47 6.19 421.9 8.640 7.600 7.750 7.600 5235SS KLCC 7.700 -0.010 694.1 7.662 15.83 4.69 13,901.1 1.267 1.142 1.200 1.190 5123 MQREIT 1.190 UNCH 223.7 1.193 18.17 7.05 1,270.9 1.866 1.530 1.570 1.550 5212 PAVREIT 1.550 UNCH 236.5 1.555 18.79 5.32 4,696.6 1.900 1.593 1.720 1.700 5176 SUNREIT 1.710 -0.010 263.9 1.711 11.45 5.61 5,036.1 1.230 1.132 1.200 1.200 5111 TWRREIT 1.200 0.010 12.8 1.200 17.99 5.78 336.6 1.796 1.590 1.610 1.590 5110 UOAREIT 1.600 -0.010 15.4 1.605 17.88 5.34 676.6 1.280 1.103 1.180 1.170 5109 YTLREIT 1.180 0.010 804.2 1.179 53.39 5.43 2,011.2SPAC 0.720 0.715 — — 5234 CLIQ 0.720 — — — — — 454.3 0.480 0.435 0.470 0.470 5270 RSENA 0.470 0.005 1055.5 0.470 — — 470.0 0.480 0.475 — — 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 0.285 0.215 0.240 0.235 0179 BIOHLDG 0.240 -0.005 3046.6 0.239 27.27 0.42 194.2 0.300 0.135 0.150 0.135 0170 KANGER 0.135 -0.020 814.9 0.142 12.98 — 108.6 0.295 0.185 0.195 0.185 0182 LKL 0.195 -0.005 246.7 0.189 88.64 1.79 83.6 0.450 0.235 0.285 0.280 0148 SUNZEN 0.285 0.005 198.5 0.281 27.14 1.05 137.5 0.085 0.030 0.060 0.050 0095 XINGHE 0.055 Unch 20727.5 0.056 5.19 — 140.2INDUSTRIAL PRODUCTS 0.192 0.105 0.120 0.110 0105 ASIAPLY 0.115 -0.005 722.7 0.115 12.64 4.35 43.4 0.130 0.090 0.100 0.100 0072 AT 0.100 Unch 1201 0.100 — — 42.2 0.445 0.265 0.275 0.270 0163 CAREPLS 0.275 Unch 641.3 0.272 196.43 — 139.2 0.330 0.145 0.185 0.180 0102 CONNECT 0.185 Unch 626.4 0.181 20.11 — 60.3 0.443 0.320 0.330 0.320 0190 ESAFE 0.320 -0.015 37.2 0.326 47.06 — 77.0 0.505 0.210 0.215 0.210 0100 ESCERAM 0.210 Unch 169.5 0.210 13.82 2.86 43.2 0.370 0.215 0.245 0.240 0175 HHGROUP 0.245 -0.005 426.6 0.245 34.03 — 75.6 0.145 0.085 0.105 0.100 0160 HHHCORP 0.100 -0.005 1350 0.105 18.18 — 33.3 0.355 0.222 0.275 0.275 0188 HLT 0.275 -0.005 525 0.275 — — 109.5 0.555 0.205 0.365 0.340 0162 IJACOBS 0.355 -0.005 486.2 0.359 30.08 — 48.6 0.153 0.090 0.095 0.090 0024 JAG 0.095 -0.005 5368.7 0.095 12.67 0.95 130.9 0.250 0.130 0.180 0.175 0025 LNGRES 0.180 -0.005 420 0.179 20.00 — 43.6 0.115 0.040 0.060 0.055 0070 MQTECH 0.060 Unch 1349 0.055 — — 24.9 0.848 0.399 0.635 0.620 0049 OCNCASH 0.635 -0.005 148.6 0.628 13.15 1.26 141.6 0.610 0.150 0.335 0.335 0038 PTB 0.335 0.005 25 0.335 — — 50.4 0.175 0.100 0.115 0.110 0133 SANICHI 0.115 0.005 611.8 0.110 — — 40.1 0.060 0.025 0.035 0.030 0109 SCBUILD 0.030 -0.005 349.4 0.031 — — 26.5 0.460 0.125 0.430 0.410 0001 SCOMNET 0.415 -0.020 2605.9 0.419 41.09 — 100.8 0.289 0.147 0.175 0.175 0028 SCOPE 0.175 -0.005 222.2 0.175 23.97 2.86 98.1 0.290 0.145 0.170 0.170 0055 SERSOL 0.170 -0.005 100 0.170 — — 36.6 0.875 0.144 0.495 0.450 0084 TECFAST 0.460 -0.025 983.3 0.460 24.47 0.83 104.9TECHNOLOGY 0.995 0.290 0.570 0.570 0018 ACCSOFT 0.570 -0.010 17 0.570 26.89 — 474.7 0.750 0.250 0.625 0.605 0181 AEMULUS 0.610 -0.005 2153.3 0.612 35.47 — 267.7 0.455 0.310 0.385 0.370 0119 APPASIA 0.370 -0.010 3999.3 0.376 — — 127.7 0.450 0.120 0.150 0.150 0068 ASDION 0.150 -0.005 66 0.150 — — 17.4 0.960 0.580 0.800 0.765 0098 BAHVEST 0.780 -0.015 649.7 0.786 — — 469.4 0.644 0.490 0.515 0.490 0195 BINACOM 0.495 -0.030 2533.7 0.502 — 1.01 128.7 0.764 0.585 0.620 0.615 0191 CABNET 0.620 0.005 94.3 0.616 12.09 — 80.6 0.250 0.030 0.135 0.125 0152 DGB 0.130 Unch 6431.4 0.130 92.86 — 76.1 0.160 0.030 0.100 0.090 0131 DGSB 0.095 -0.005 15193.8 0.095 950.00 — 128.8 0.068 0.040 0.045 0.040 0154 EAH 0.040 Unch 5459.6 0.040 28.57 — 139.1 0.215 0.115 0.120 0.115 0107 EDUSPEC 0.120 Unch 440 0.120 — — 120.2 0.500 0.080 0.405 0.395 0116 FOCUS 0.395 -0.015 2051.2 0.399 — — 309.5 1.750 0.820 1.220 1.140 0104 GENETEC 1.200 Unch 147.8 1.188 — — 46.5 0.090 0.035 — — 0045 GNB 0.035 — — — — — 10.1 0.195 0.080 0.155 0.155 0074 GOCEAN 0.155 Unch 633 0.155 — — 44.9 0.100 0.045 0.055 0.055 0174 IDMENSN 0.055 Unch 5164.9 0.055 55.00 — 29.9 0.533 0.330 0.365 0.355 0023 IFCAMSC 0.360 -0.015 1974.2 0.359 18.95 1.39 219.0 0.145 0.060 0.085 0.080 0094 INIX 0.085 -0.005 3964.3 0.082 — — 21.6 0.245 0.115 0.210 0.200 0010 IRIS 0.210 -0.005 16435.3 0.205 — — 519.1 1.450 0.284 0.995 0.960 0146 JFTECH 0.975 -0.025 178 0.973 28.43 1.23 204.7 3.400 0.893 3.250 3.090 0127 JHM 3.190 -0.020 759.1 3.181 26.54 0.47 838.3 0.270 0.150 0.185 0.180 0111 K1 0.180 -0.005 189.4 0.183 — — 93.4 0.460 0.100 0.135 0.125 0036 KGROUP 0.135 0.005 8090.5 0.133 — — 57.8 1.280 0.315 0.750 0.730 0176 KRONO 0.735 -0.030 3197.6 0.742 17.25 — 241.1 0.180 0.050 0.130 0.120 0017 M3TECH 0.120 -0.015 10628.9 0.125 — — 70.4 0.690 0.230 0.570 0.550 0075 MEXTER 0.570 Unch 436.6 0.560 — — 140.3 0.520 0.350 — — 0155 MGRC 0.360 — — — — — 37.3 1.200 0.610 0.705 0.655 0126 MICROLN 0.700 0.010 55.1 0.697 11.35 — 117.2 0.583 0.410 0.430 0.410 0112 MIKROMB 0.425 -0.005 1199.8 0.420 17.86 3.36 183.1 0.465 0.065 0.075 0.070 0085 MLAB 0.075 Unch 7022.9 0.070 — — 50.3 0.268 0.153 0.175 0.170 0034 MMAG 0.175 Unch 2798.9 0.175 — — 79.7 2.028 0.581 1.630 1.600 0113 MMSV 1.620 -0.050 660.9 1.614 12.51 1.23 264.1 0.130 0.055 0.090 0.085 0103 MNC 0.085 Unch 7397 0.089 — — 40.7 0.310 0.195 0.215 0.210 0156 MPAY 0.215 Unch 2642.1 0.210 — — 152.8 0.684 0.125 0.150 0.140 0092 MTOUCHE 0.150 Unch 2418.2 0.148 21.74 — 76.3 1.140 0.666 0.980 0.950 0108 N2N 0.960 -0.025 2399.4 0.970 21.29 2.08 458.5 0.110 0.020 0.045 0.040 0020 NETX 0.045 Unch 9933.6 0.041 18.00 — 109.8 0.055 0.030 0.040 0.035 0096 NEXGRAM 0.035 Unch 26250.6 0.035 — — 65.9 0.150 0.070 0.110 0.105 0026 NOVAMSC 0.105 -0.010 3412.7 0.106 — — 71.7 0.662 0.355 0.395 0.380 0035 OPCOM 0.380 -0.010 163.2 0.386 22.22 10.53 61.3 0.379 0.280 0.290 0.285 0040 OPENSYS 0.290 Unch 305.9 0.286 18.35 3.45 86.4 0.380 0.115 0.150 0.140 0079 ORION 0.145 -0.005 13527.1 0.145 — — 86.8 0.310 0.150 0.160 0.150 0022 PARLO 0.160 Unch 556.5 0.155 — — 58.2 0.230 0.135 0.140 0.135 0123 PRIVA 0.135 Unch 765.4 0.135 — — 75.4 0.944 0.578 0.760 0.750 0106 REXIT 0.760 Unch 116.9 0.754 17.51 3.95 143.9 0.430 0.271 0.340 0.315 0178 SEDANIA 0.325 -0.015 1347.7 0.323 75.58 3.08 73.4 0.190 0.060 0.085 0.085 0060 SKH 0.085 Unch 1785 0.085 35.42 — 51.8 0.280 0.120 0.245 0.215 0169 SMTRACK 0.230 -0.005 6789.7 0.235 — — 31.2 0.343 0.205 0.225 0.220 0093 SOLUTN 0.225 Unch 468.1 0.222 7.71 4.44 69.0 0.360 0.120 0.250 0.235 0129 SRIDGE 0.245 -0.005 6280.3 0.242 — — 29.6 0.470 0.230 0.315 0.305 0050 SYSTECH 0.310 -0.005 352.2 0.309 58.49 0.97 107.8 0.180 0.125 0.130 0.125 0132 TDEX 0.130 Unch 426 0.130 108.33 — 70.7 0.580 0.055 0.440 0.405 0005 UCREST 0.420 -0.030 31572.4 0.423 20.10 — 163.1 0.965 0.298 0.540 0.500 0120 VIS 0.520 -0.030 631.6 0.515 12.97 0.63 87.6 0.190 0.115 0.120 0.115 0069 VIVOCOM 0.115 -0.005 8377.2 0.118 27.38 — 390.3 0.155 0.075 0.130 0.130 0066 VSOLAR 0.130 -0.005 381 0.130 — — 50.2 0.060 0.020 — — 0141 WINTONI 0.035 — — — — — 18.0 0.275 0.110 0.170 0.170 0086 YGL 0.170 Unch 333.8 0.170 — — 39.5TRADING SERVICES 0.400 0.210 — — 0122 AIM 0.250 — — — — — 66.5 0.165 0.080 0.105 0.100 0048 ANCOMLB 0.105 Unch 448.8 0.105 — — 49.7 0.250 0.155 0.170 0.165 0187 BCMALL 0.170 Unch 20.1 0.169 28.81 — 71.6 0.392 0.265 — — 0011 BTECH 0.270 — — — 17.09 5.93 68.0 0.235 0.118 0.145 0.140 0150 FINTEC 0.140 -0.005 11203.1 0.142 0.86 — 65.7 0.320 0.180 — — 0157 FOCUSP 0.185 — — — — — 30.5 0.759 0.430 0.555 0.520 0039 GFM 0.550 -0.025 2004.7 0.545 22.45 2.64 235.5 0.900 0.600 — — 0147 INNITY 0.610 — — — — — 84.4 0.330 0.245 0.280 0.270 0193 KAB 0.280 Unch 1144.6 0.274 9.62 — 89.6 0.310 0.170 0.195 0.180 0180 KTC 0.185 -0.010 307.7 0.189 97.37 — 94.4 0.350 0.150 0.215 0.215 0167 MCLEAN 0.215 0.035 0.1 0.215 — — 38.4 0.440 0.185 0.185 0.185 0081 MEGASUN 0.185 -0.010 50 0.185 9.30 — 40.6 0.280 0.170 — — 0153 OVERSEA 0.200 — — — — — 49.3 0.200 0.115 0.130 0.130 0177 PASUKGB 0.130 -0.010 90 0.130 — — 105.5 0.450 0.280 — — 0006 PINEAPP 0.365 — — — 65.18 — 17.7 0.364 0.228 0.340 0.330 0171 PLABS 0.330 -0.005 113.3 0.336 19.88 1.82 70.9 0.350 0.127 0.285 0.280 0186 PTRANS 0.285 -0.005 4301.6 0.284 12.61 3.19 358.4 0.355 0.080 0.245 0.225 0007 PUC 0.245 Unch 50162.6 0.235 144.12 — 366.3 0.615 0.300 0.345 0.325 0032 REDTONE 0.345 -0.005 267.6 0.341 — — 261.6 0.635 0.380 0.400 0.390 0173 REV 0.400 -0.005 354 0.395 1.02 — 53.9 0.698 0.452 — — 0158 SCC 0.550 — — — 12.61 5.67 77.6 0.275 0.165 0.230 0.220 0161 SCH 0.225 -0.010 2237.4 0.224 52.33 — 92.8 0.300 0.145 0.190 0.170 0117 SMRT 0.170 -0.025 1129.1 0.183 — — 62.0 0.315 0.120 0.290 0.285 0140 STERPRO 0.290 Unch 1205.4 0.290 — — 93.2 0.300 0.109 0.270 0.265 0080 STRAITS 0.265 -0.010 1344.5 0.267 35.33 — 97.5 0.907 0.750 0.800 0.750 0089 TEXCYCL 0.750 -0.020 98 0.764 10.12 0.53 192.1 0.230 0.125 0.150 0.130 0145 TFP 0.150 -0.005 180.4 0.144 — — 30.8 0.145 0.095 0.110 0.105 0165 XOX 0.105 Unch 17446.7 0.105 16.41 — 100.0FINANCE 0.965 0.420 0.590 0.580 0053 OSKVI 0.580 -0.020 54.6 0.586 3.32 3.45 114.6

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 FEBRUARY 6, 2018 • THEEDGE FINANCIAL DAILY 2 8

Bursa Malaysia Equity Derivatives

0.500 0.150 0.470 0.410 70312 A50CHIN-C12 0.470 0.015 121 8.548 8.454 7.14 28/06/2018 0.110 0.025 0.055 0.050 523810 AAX-C10 0.050 -0.015 5872.7 0.390 0.400 15.38 26/04/2018 0.145 0.035 0.115 0.095 523811 AAX-C11 0.105 -0.020 9089.6 0.390 0.380 24.36 21/06/2018 0.095 0.025 0.065 0.050 523812 AAX-C12 0.050 -0.020 3734 0.390 0.360 7.69 30/03/2018 0.110 0.080 0.080 0.080 523813 AAX-C13 0.080 -0.015 483.3 0.390 0.410 25.64 06/08/2018 0.090 0.075 0.080 0.075 523814 AAX-C14 0.075 -0.015 2159.5 0.390 0.450 38.46 31/10/2018 0.310 0.145 0.195 0.190 5238WA AAX-WA 0.195 -0.005 4055.6 0.390 0.460 67.95 08/06/2020 0.120 0.040 0.050 0.045 7146WA AEM-WA 0.050 Unch 298.3 0.150 0.250 100.00 17/12/2019 0.330 0.065 0.100 0.095 7315WB AHB-WB 0.100 -0.015 963.3 0.200 0.200 50.00 28/08/2019 0.290 0.095 0.270 0.240 509958 AIRASIAC58 0.240 -0.040 5954.3 4.150 3.300 2.65 26/04/2018 0.145 0.030 0.090 0.080 5014CV AIRPORT-CV 0.090 -0.005 202.8 9.170 8.800 2.84 30/04/2018 0.215 0.165 0.210 0.200 5014CW AIRPORT-CW 0.210 -0.005 300 9.170 8.500 6.43 23/08/2018 0.420 0.165 0.175 0.165 7609WA AJIYA-WA 0.170 -0.010 384.9 0.580 0.920 87.93 28/08/2021 0.135 0.010 0.050 0.040 1015C1 AMBANK-C1 0.050 -0.010 2606.4 4.580 5.000 12.45 30/04/2018 0.155 0.055 0.125 0.120 1015C3 AMBANK-C3 0.120 -0.035 2360 4.580 4.700 11.27 30/03/2018 0.295 0.080 0.270 0.215 1015C5 AMBANK-C5 0.270 -0.005 1272.6 4.580 4.300 8.62 28/09/2018 0.170 0.070 0.075 0.070 6556CF ANNJOO-CF 0.075 Unch 500 3.430 4.000 26.02 30/04/2018 0.115 0.025 0.030 0.025 6556CG ANNJOO-CG 0.030 Unch 412.5 3.430 4.380 31.46 14/05/2018 0.155 0.065 0.075 0.065 6556CH ANNJOO-CH 0.075 -0.005 2865.1 3.430 4.000 27.99 24/07/2018 0.130 0.060 0.060 0.060 6556CI ANNJOO-CI 0.060 -0.010 230 3.430 3.880 23.62 31/07/2018 0.160 0.095 0.105 0.095 6556CK ANNJOO-CK 0.105 -0.005 305.8 3.430 4.400 38.99 28/09/2018 0.135 0.085 0.120 0.100 6556CL ANNJOO-CL 0.120 -0.005 687.3 3.430 4.000 23.62 31/10/2018 0.275 0.030 0.035 0.035 9342WA ANZO-WA 0.035 Unch 260 0.085 0.250 235.29 19/11/2019 0.070 0.030 0.040 0.035 9342WC ANZO-WC 0.040 0.005 550.2 0.085 0.200 182.35 18/06/2020 0.030 0.005 0.005 0.005 5194WA APFT-WA 0.005 Unch 837.2 0.015 0.400 2,600.0 13/07/2018 0.335 0.185 0.270 0.260 0119WA APPASIA-WA 0.260 -0.015 528.6 0.370 0.130 5.41 23/12/2024 0.240 0.085 0.170 0.155 521029 ARMADA-C29 0.155 -0.030 828.3 0.835 0.750 3.74 29/06/2018 0.190 0.100 0.140 0.125 521030 ARMADA-C30 0.135 -0.015 860 0.835 0.750 5.99 29/06/2018 0.175 0.085 0.120 0.115 521031 ARMADA-C31 0.120 -0.010 550 0.835 0.780 7.78 29/06/2018 0.205 0.100 0.155 0.145 521032 ARMADA-C32 0.155 -0.030 266 0.835 0.670 4.37 29/06/2018 0.095 0.040 0.070 0.060 521033 ARMADA-C33 0.065 -0.005 6263.9 0.835 0.800 9.82 24/07/2018 0.090 0.040 0.065 0.065 521034 ARMADA-C34 0.065 -0.005 527 0.835 0.850 15.81 25/09/2018 0.140 0.060 0.100 0.085 521035 ARMADA-C35 0.085 -0.020 105.1 0.835 0.850 12.99 31/07/2018 0.350 0.030 0.045 0.040 0068WB ASDION-WB 0.040 -0.005 83.6 0.150 0.500 260.00 24/03/2019 0.075 0.045 0.055 0.045 0105WB ASIAPLY-WB 0.055 Unch 2004.4 0.115 0.100 34.78 12/12/2022 0.140 0.035 0.045 0.040 6399C5 ASTRO-C5 0.045 Unch 88 2.560 2.900 15.92 31/07/2018 0.075 0.035 0.035 0.035 6399C6 ASTRO-C6 0.035 -0.005 100 2.560 3.100 23.83 25/06/2018 0.664 0.095 0.280 0.250 7099WB ATTA-WB 0.265 -0.015 212.7 0.970 0.870 17.01 09/05/2022 0.120 0.040 0.045 0.045 0072WB AT-WB 0.045 Unch 100 0.100 0.090 35.00 17/10/2019 0.165 0.045 0.130 0.115 688820 AXIATA-C20 0.130 0.010 131 5.620 5.200 1.78 28/02/2018 0.500 0.180 0.435 0.415 0098WA BAHVEST-WA 0.420 -0.015 722.9 0.780 0.870 65.38 20/08/2024 0.270 0.075 0.140 0.120 5248CT BAUTO-CT 0.135 -0.015 198.9 2.180 2.100 5.62 31/07/2018 0.095 0.075 0.085 0.075 5248CU BAUTO-CU 0.085 -0.010 261 2.180 2.280 16.28 28/09/2018 0.450 0.265 0.300 0.290 5258WA BIMB-WA 0.290 -0.015 1135.2 4.150 4.720 20.72 04/12/2023 0.155 0.065 0.085 0.080 6998WA BINTAI-WA 0.085 Unch 80.1 0.165 0.200 72.73 15/06/2020 0.230 0.105 0.140 0.135 0179WA BIOHLDG-WA 0.140 -0.005 1071 0.240 0.220 50.00 05/01/2022 0.193 0.005 0.005 0.005 3239WA BJASSET-WA 0.005 Unch 114 0.415 0.500 21.69 16/03/2018 0.095 0.040 0.040 0.040 3395C5 BJCORP-C5 0.040 Unch 1386.3 0.335 0.350 16.42 24/07/2018 0.160 0.075 0.085 0.085 3395WB BJCORP-WB 0.085 Unch 506 0.335 1.000 223.88 22/04/2022 0.175 0.065 0.110 0.105 3395WC BJCORP-WC 0.105 -0.005 1425 0.335 1.000 229.85 29/05/2026 0.370 0.050 0.230 0.220 7187WA BKOON-WA 0.220 -0.010 192.2 0.425 0.200 -1.18 07/07/2023 0.066 0.015 0.015 0.015 7036WB BORNOIL-WB 0.015 Unch 785.9 0.085 0.060 -11.76 28/02/2018 0.071 0.035 0.040 0.035 7036WC BORNOIL-WC 0.040 Unch 9909.8 0.085 0.070 29.41 08/11/2025 0.150 0.020 0.110 0.095 181813 BURSA-C13 0.100 -0.015 1674.9 10.880 10.500 1.10 30/03/2018 0.205 0.055 0.200 0.170 181814 BURSA-C14 0.195 -0.010 919.2 10.880 10.000 2.67 29/06/2018 0.185 0.105 0.185 0.170 181815 BURSA-C15 0.185 Unch 150 10.880 10.000 3.81 27/07/2018 0.165 0.065 0.130 0.130 102326 CIMB-C26 0.130 -0.010 300 7.090 6.880 6.21 26/04/2018 0.110 0.005 0.040 0.035 102327 CIMB-C27 0.040 -0.005 1408 7.090 7.700 10.86 19/03/2018 0.380 0.150 0.320 0.305 102328 CIMB-C28 0.310 -0.035 709.5 7.090 6.000 2.12 30/04/2018 0.185 0.095 0.165 0.160 102329 CIMB-C29 0.160 -0.015 215 7.090 6.380 8.04 31/07/2018 0.350 0.140 0.300 0.260 102330 CIMB-C30 0.295 -0.025 10538.5 7.090 6.700 7.81 29/06/2018 0.190 0.130 0.160 0.155 102331 CIMB-C31 0.160 -0.015 589 7.090 7.000 12.27 21/09/2018 0.205 0.165 0.190 0.165 285210 CMSB-C10 0.170 -0.025 615 4.180 3.800 9.21 21/09/2018 0.190 0.145 0.170 0.160 285211 CMSB-C11 0.165 -0.015 232.7 4.180 4.100 17.82 28/09/2018 0.205 0.050 0.105 0.050 0102WB CONNECT-WB 0.105 0.010 1044 0.185 0.100 10.81 07/06/2021 0.365 0.055 0.255 0.235 0051WA CUSCAPI-WA 0.240 -0.020 2681.1 0.510 0.270 0.00 24/04/2018 0.035 0.010 0.015 0.015 7179WB DBE-WB 0.015 Unch 3115.8 0.035 0.050 85.71 22/01/2022 0.220 0.120 0.145 0.120 3484WA DBHD-WA 0.145 0.005 80.7 0.505 0.580 43.56 27/11/2020 0.040 0.005 0.020 0.020 0152WA DGB-WA 0.020 Unch 650 0.130 0.110 0.00 22/04/2018 0.230 0.055 0.185 0.145 727718 DIALOG-C18 0.185 -0.005 162.3 2.610 2.300 4.43 30/03/2018 0.375 0.115 0.285 0.240 727723 DIALOG-C23 0.275 -0.010 465.1 2.610 2.300 3.93 30/08/2018 0.140 0.075 0.095 0.090 727725 DIALOG-C25 0.095 -0.010 585.1 2.610 2.900 19.12 31/07/2018 0.160 0.035 0.130 0.125 694721 DIGI-C21 0.125 -0.030 180 4.930 5.000 5.22 31/07/2018 0.370 0.060 0.185 0.170 4456WD DNEX-WD 0.180 -0.010 9866.9 0.460 0.500 47.83 30/07/2021 0.280 0.065 0.160 0.150 7114WA DNONCE-WA 0.150 -0.010 849.5 0.340 0.250 17.65 25/11/2020 0.105 0.050 0.050 0.050 5265WA DOLPHIN-WA 0.050 -0.005 246.9 0.150 0.800 466.67 29/03/2021 0.070 0.035 0.050 0.045 7198WB DPS-WB 0.045 -0.005 1032.9 0.080 0.100 81.25 15/01/2025 0.485 0.040 0.395 0.320 161937 DRBHCOMC37 0.365 0.005 19419.3 2.580 1.850 0.00 30/03/2018 0.250 0.030 0.215 0.195 161940 DRBHCOMC40 0.210 -0.005 152 2.580 2.000 1.94 30/03/2018 0.215 0.020 0.180 0.140 161941 DRBHCOMC41 0.170 0.005 5702.8 2.580 2.150 3.10 30/03/2018 0.550 0.095 0.480 0.460 161942 DRBHCOMC42 0.475 Unch 118 2.580 1.650 0.78 31/05/2018 0.380 0.075 0.345 0.300 161944 DRBHCOMC44 0.320 Unch 914.1 2.580 2.000 2.33 09/04/2018 0.395 0.080 0.355 0.300 161945 DRBHCOMC45 0.325 -0.005 632 2.580 1.950 3.29 29/06/2018 0.380 0.135 0.350 0.320 161946 DRBHCOMC46 0.350 0.010 215 2.580 1.650 4.65 27/07/2018 0.280 0.210 0.260 0.235 161947 DRBHCOMC47 0.245 0.005 1357.4 2.580 2.400 18.66 28/09/2018 0.210 0.140 0.195 0.175 161948 DRBHCOMC48 0.185 Unch 2403.5 2.580 2.200 10.37 21/09/2018 0.215 0.150 0.185 0.165 161949 DRBHCOMC49 0.185 0.010 802 2.580 3.000 37.79 31/10/2018 0.160 0.080 0.145 0.120 161950 DRBHCOMC50 0.140 0.010 2110 2.580 2.800 24.81 25/07/2018 0.270 0.140 0.255 0.205 161951 DRBHCOMC51 0.235 0.010 1262.8 2.580 2.500 15.12 31/10/2018 0.200 0.145 0.175 0.145 161953 DRBHCOMC53 0.160 0.005 11105.5 2.580 2.500 21.71 28/09/2018 0.155 0.120 0.130 0.120 161954 DRBHCOMC54 0.130 Unch 3334.1 2.580 3.100 37.79 13/08/2018 0.120 0.050 0.050 0.050 5216C1 DSONIC-C1 0.050 -0.005 480 1.090 1.150 14.68 19/04/2018 0.120 0.055 0.065 0.055 5216C2 DSONIC-C2 0.055 -0.020 2080 1.090 1.180 18.35 29/06/2018 0.080 0.025 0.035 0.025 5216C4 DSONIC-C4 0.030 -0.010 1380 1.090 1.350 29.36 11/06/2018 0.100 0.050 0.055 0.050 5216C5 DSONIC-C5 0.050 -0.005 1280.6 1.090 1.290 27.52 31/07/2018 0.055 0.010 0.010 0.010 5216CZ DSONIC-CZ 0.010 -0.020 200 1.090 1.380 28.44 30/03/2018 0.033 0.015 0.020 0.015 0154WC EAH-WC 0.015 -0.005 792.5 0.040 0.070 112.50 18/06/2019 0.030 0.020 0.025 0.020 0154WD EAH-WD 0.020 Unch 48743.9 0.040 0.050 75.00 25/10/2022 0.155 0.075 0.085 0.075 5253CE ECONBHD-CE 0.085 -0.005 620 1.240 1.160 4.52 30/04/2018 0.230 0.085 0.105 0.085 5253CF ECONBHD-CF 0.100 Unch 8820.2 1.240 1.180 4.84 22/03/2018 0.125 0.035 0.040 0.035 5253CH ECONBHD-CH 0.040 -0.005 360 1.240 1.360 13.55 09/04/2018 0.590 0.305 0.320 0.305 5253WA ECONBHD-WA 0.320 -0.015 1639.8 1.240 1.250 26.61 02/01/2023 0.080 0.060 0.060 0.060 8206CL ECOWLD-CL 0.060 -0.015 100 1.390 1.500 16.55 23/08/2018 0.095 0.015 0.020 0.015 0107WA EDUSPEC-WA 0.015 -0.005 180 0.120 0.180 62.50 24/12/2018 1.360 0.410 1.100 1.050 0065WA EFORCE-WA 1.090 -0.030 575.6 1.460 0.340 -2.05 17/07/2019 0.557 0.283 0.345 0.320 8907WC EG-WC 0.335 -0.015 123.1 0.595 0.500 40.34 03/11/2020 0.110 0.010 0.015 0.015 8877CD EKOVEST-CD 0.015 Unch 1100 0.975 1.150 21.03 22/02/2018 0.080 0.030 0.040 0.040 8877CE EKOVEST-CE 0.040 Unch 1198 0.975 1.200 32.51 29/06/2018 0.175 0.085 0.100 0.085 8877CF EKOVEST-CF 0.095 -0.005 2637.8 0.975 1.000 21.08 29/06/2018 0.090 0.040 0.040 0.040 8877CG EKOVEST-CG 0.040 -0.010 200 0.975 1.100 24.31 24/07/2018 0.110 0.045 0.045 0.045 8877CI EKOVEST-CI 0.045 -0.005 266 0.975 1.200 32.31 11/06/2018 1.350 0.475 0.625 0.600 8877WB EKOVEST-WB 0.620 -0.005 774.9 0.975 0.480 12.82 25/06/2019 0.050 0.020 0.020 0.020 5283CI EWINT-CI 0.020 Unch 100 1.080 1.200 14.81 09/04/2018 0.075 0.045 0.055 0.055 5283CJ EWINT-CJ 0.055 -0.005 280 1.080 1.200 21.30 30/08/2018 0.450 0.200 0.240 0.235 5283WA EWINT-WA 0.240 -0.005 624.8 1.080 1.450 56.48 02/04/2022 0.570 0.160 0.450 0.420 7047WB FAJAR-WB 0.420 -0.035 844.9 0.810 0.700 38.27 24/09/2019 0.185 0.005 0.145 0.145 06503F FBMKLCI-C3F 0.145 -0.025 175 1,853 1,780 -0.03 30/03/2018 0.600 0.370 0.600 0.600 06503M FBMKLCI-C3M 0.600 0.020 1000 1,853 1,780 2.53 29/06/2018 0.215 0.010 0.025 0.015 06504H FBMKLCI-H4H 0.025 0.015 771.5 1,133 1,780 58.14 30/03/2018 0.585 0.145 0.170 0.165 06504J FBMKLCI-H4J 0.165 0.020 265 1,853 1,780 -2.16 30/04/2018 0.180 0.015 0.030 0.020 06504K FBMKLCI-H4K 0.020 Unch 255 893.80 1,755 97.47 30/04/2018 0.170 0.015 0.030 0.025 06504L FBMKLCI-H4L 0.025 0.005 402 1,132 1,740 54.71 31/05/2018 0.205 0.025 0.050 0.035 06504M FBMKLCI-H4M 0.035 0.010 1568 1,622 1,750 8.91 29/06/2018 0.330 0.155 0.180 0.175 06504N FBMKLCI-H4N 0.175 0.015 120 1,853 1,730 -4.75 29/06/2018 0.495 0.280 0.330 0.315 06504O FBMKLCI-H4O 0.320 0.030 250.8 1,853 1,810 1.13 29/06/2018 0.245 0.065 0.150 0.140 522231 FGV-C31 0.145 -0.010 8970.2 1.880 1.630 5.98 30/03/2018 0.130 0.060 0.070 0.070 522234 FGV-C34 0.070 -0.015 200 1.880 1.880 11.17 30/03/2018 0.065 0.010 0.010 0.010 522236 FGV-C36 0.010 -0.005 2657.8 1.880 2.300 23.94 26/02/2018 0.165 0.060 0.095 0.085 522238 FGV-C38 0.085 -0.020 265 1.880 1.850 9.71 19/04/2018 0.315 0.100 0.205 0.190 522239 FGV-C39 0.200 -0.010 1107.5 1.880 1.750 11.70 31/07/2018 0.135 0.050 0.095 0.085 522240 FGV-C40 0.090 -0.015 3040.5 1.880 2.200 28.03 29/06/2018 0.190 0.075 0.120 0.100 522241 FGV-C41 0.100 -0.025 4580 1.880 2.000 18.09 25/06/2018 0.215 0.135 0.155 0.135 522242 FGV-C42 0.140 -0.020 4305.6 1.880 1.900 21.17 28/09/2018 0.185 0.120 0.130 0.120 522243 FGV-C43 0.125 -0.010 220 1.880 2.000 23.01 21/09/2018 0.080 0.055 0.070 0.055 522244 FGV-C44 0.055 -0.015 2584 1.880 2.300 30.53 25/07/2018 0.095 0.080 0.080 0.080 522245 FGV-C45 0.080 -0.005 285 1.880 2.200 34.04 28/09/2018 0.145 0.120 0.125 0.120 522247 FGV-C47 0.120 -0.015 544.6 1.880 2.450 45.64 31/10/2018 0.110 0.045 0.050 0.045 0150WA FINTEC-WA 0.045 -0.005 380 0.140 0.300 146.43 19/04/2024 0.105 0.055 0.060 0.055 0150WB FINTEC-WB 0.060 -0.005 7118.8 0.140 0.150 50.00 03/12/2022 0.130 0.065 0.080 0.080 9318WB FITTERS-WB 0.080 -0.010 588 0.430 1.000 151.16 12/10/2019 0.740 0.365 0.420 0.400 9261WB GADANG-WB 0.415 -0.005 743.3 0.415 1.060 255.42 29/11/2021 0.060 0.015 0.030 0.025 539837 GAMUDA-C37 0.025 -0.005 300 4.980 5.450 12.45 30/04/2018 0.045 0.015 0.025 0.020 539838 GAMUDA-C38 0.020 -0.010 513.5 4.980 5.680 16.47 30/04/2018 0.120 0.025 0.080 0.065 539839 GAMUDA-C39 0.070 -0.015 1886 4.980 5.350 11.65 31/05/2018 0.165 0.095 0.130 0.120 539842 GAMUDA-C42 0.125 -0.015 1293.5 4.980 4.800 8.94 27/07/2018 0.230 0.120 0.200 0.180 539843 GAMUDA-C43 0.180 -0.035 1139 4.980 5.000 13.05 31/07/2018 0.210 0.145 0.165 0.145 539844 GAMUDA-C44 0.145 -0.025 693.2 4.980 5.000 10.59 25/06/2018 1.480 1.060 1.220 1.170 5398WE GAMUDA-WE 1.200 -0.040 1217.3 4.980 4.050 5.42 06/03/2021 0.770 0.185 0.615 0.595 5226WA GBGAQRS-WA 0.595 -0.020 1310 1.860 1.300 1.88 20/07/2018 0.085 0.070 0.070 0.070 0078CK GDEX-CK 0.070 -0.005 120 0.640 0.630 14.84 27/07/2018

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


0.170 0.065 0.115 0.115 471529 GENM-C29 0.115 -0.005 220 5.440 5.500 9.56 31/07/2018 0.250 0.100 0.160 0.155 471530 GENM-C30 0.160 -0.010 90 5.440 6.000 17.65 31/07/2018 0.145 0.070 0.095 0.095 471531 GENM-C31 0.095 -0.005 495 5.440 5.800 15.00 24/07/2018 0.250 0.190 0.195 0.195 471532 GENM-C32 0.195 -0.015 211 5.440 5.100 8.09 27/07/2018 0.135 0.050 0.095 0.085 318246 GENTINGC46 0.085 -0.010 1153 9.360 9.850 9.78 31/07/2018 0.130 0.075 0.095 0.095 318247 GENTINGC47 0.095 -0.025 515 9.360 9.990 13.84 31/07/2018 0.130 0.075 0.105 0.105 318248 GENTINGC48 0.105 -0.010 150 9.360 9.800 13.68 25/09/2018 1.950 1.400 1.570 1.480 3182WA GENTING-WA 1.510 -0.060 1914.8 9.360 7.960 1.18 18/12/2018 0.260 0.090 0.220 0.195 3204CA GKENT-CA 0.220 -0.005 215 3.850 2.880 3.38 31/05/2018 0.180 0.070 0.140 0.130 3204CD GKENT-CD 0.140 0.005 202.2 3.850 3.700 10.65 31/05/2018 0.190 0.120 0.155 0.120 3204CE GKENT-CE 0.150 0.005 498.7 3.850 3.700 11.69 06/08/2018 0.085 0.025 0.035 0.035 0074WA GOCEAN-WA 0.035 Unch 375.4 0.155 0.340 141.94 07/08/2019 0.055 0.030 0.030 0.030 7096WA GPA-WA 0.030 Unch 4789 0.090 0.100 44.44 03/06/2025 0.380 0.195 0.240 0.215 2062WC HARBOUR-WC 0.220 -0.040 95.9 0.810 1.560 119.75 03/04/2021 0.425 0.180 0.345 0.340 5168C4 HARTA-C4 0.345 -0.015 380 11.360 9.400 7.04 24/08/2018 0.185 0.115 0.150 0.145 5168C6 HARTA-C6 0.150 -0.010 1331 11.360 12.000 18.84 24/08/2018 1.540 0.255 0.810 0.770 4324CD HENGYUAN-CD 0.775 -0.060 213.8 13.040 7.000 1.23 19/03/2018 1.170 0.170 0.535 0.485 4324CE HENGYUAN-CE 0.515 -0.040 510.2 13.040 8.800 3.03 19/03/2018 0.995 0.125 0.570 0.535 4324CH HENGYUAN-CH 0.555 -0.025 4811.7 13.040 8.000 12.42 29/06/2018 0.620 0.145 0.330 0.315 4324CI HENGYUAN-CI 0.320 -0.020 377.3 13.040 7.880 9.51 29/06/2018 0.595 0.125 0.315 0.295 4324CJ HENGYUAN-CJ 0.305 -0.025 1195.3 13.040 8.580 12.58 29/06/2018 0.850 0.150 0.270 0.250 4324CK HENGYUAN-CK 0.250 -0.030 1105.9 13.040 10.500 15.03 24/07/2018 0.670 0.210 0.290 0.260 4324CM HENGYUAN-CM 0.270 -0.030 3683.4 13.041 12.300 21.23 25/06/2018 0.290 0.125 0.150 0.125 4324CN HENGYUAN-CN 0.150 0.005 656.2 13.040 24.000 99.00 28/09/2018 0.350 0.030 0.175 0.150 4324CO HENGYUAN-CO 0.155 -0.030 6159.4 13.040 18.000 59.43 31/10/2018 0.300 0.160 0.200 0.180 4324CP HENGYUAN-CP 0.190 -0.015 342.9 13.040 18.880 72.32 06/08/2018 0.220 0.120 0.130 0.120 4324CQ HENGYUAN-CQ 0.130 -0.005 2690.9 13.040 16.880 59.36 28/09/2018 0.210 0.120 0.130 0.120 4324CR HENGYUAN-CR 0.130 -0.010 585 13.040 19.080 71.24 28/09/2018 0.345 0.290 0.330 0.300 4324CS HENGYUAN-CS 0.315 -0.030 2989.3 13.040 18.880 78.60 31/10/2018 0.240 0.080 0.240 0.210 5072WB HIAPTEK-WB 0.230 -0.005 2841.1 0.495 0.500 47.47 23/06/2021 0.190 0.120 0.145 0.135 0188WA HLT-WA 0.135 -0.010 1169 0.275 0.200 21.82 27/12/2022 0.375 0.140 0.145 0.140 5160WA HOMERIZ-WA 0.145 -0.010 94.2 0.790 0.920 34.81 09/07/2020 0.105 0.020 0.060 0.050 7013WB HUBLINE-WB 0.055 -0.005 848.9 0.100 0.200 155.00 20/12/2020 0.050 0.015 0.030 0.030 9601WD HWGB-WD 0.030 Unch 2294.1 0.065 0.080 69.23 15/03/2021 0.055 0.020 0.025 0.025 0174WA IDMENSN-WA 0.025 Unch 100 0.055 0.100 127.27 14/07/2020 0.180 0.070 0.160 0.150 5225C6 IHH-C6 0.155 -0.010 551.8 5.970 5.700 3.27 31/07/2018 0.105 0.020 0.025 0.025 333610 IJM-C10 0.025 Unch 100 2.890 3.500 23.70 30/04/2018 0.105 0.035 0.055 0.055 333611 IJM-C11 0.055 -0.010 640 2.890 3.300 17.52 31/07/2018 0.160 0.090 0.095 0.095 333613 IJM-C13 0.095 -0.050 250 2.890 3.000 13.67 24/08/2018 0.055 0.010 0.010 0.010 3336C8 IJM-C8 0.010 Unch 300 2.890 3.580 25.26 30/04/2018 0.210 0.105 0.115 0.105 16610 INARI-C10 0.115 -0.015 1725 3.130 3.800 32.43 31/07/2018 0.195 0.085 0.100 0.085 16611 INARI-C11 0.095 -0.010 386 3.130 3.200 17.41 30/08/2018 0.100 0.050 0.065 0.050 16612 INARI-C12 0.065 0.005 1027.6 3.130 3.800 27.64 31/10/2018 0.440 0.080 0.240 0.195 0166C4 INARI-C4 0.225 -0.020 1369 3.130 2.500 1.44 26/04/2018 0.700 0.095 0.395 0.350 0166C6 INARI-C6 0.365 -0.030 99 3.130 2.400 0.00 30/04/2018 0.215 0.050 0.070 0.050 0166C7 INARI-C7 0.060 -0.015 21298.1 3.130 3.500 17.57 14/05/2018 0.400 0.165 0.240 0.210 0166C8 INARI-C8 0.235 -0.035 1065 3.130 3.200 18.75 29/06/2018 0.490 0.150 0.260 0.220 0166C9 INARI-C9 0.250 -0.050 672.7 3.130 2.800 7.43 30/08/2018 3.000 1.300 2.360 2.200 0166WB INARI-WB 2.300 -0.060 556.2 3.130 0.800 -0.96 17/02/2020 0.115 0.020 0.045 0.040 0094WA INIX-WA 0.045 Unch 1951.2 0.085 0.100 70.59 16/11/2020 0.545 0.190 0.290 0.270 3379WB INSAS-WB 0.280 -0.015 3211.4 0.940 1.000 36.17 25/02/2020 0.145 0.085 0.130 0.120 196115 IOICORP-C15 0.130 -0.010 118 4.650 4.550 4.14 31/07/2018 0.045 0.020 0.030 0.025 0024WB JAG-WB 0.025 Unch 147.1 0.095 0.150 84.21 15/11/2020 0.075 0.010 0.010 0.010 5161C4 JCY-C4 0.010 -0.010 100 0.420 0.600 45.24 30/04/2018 0.095 0.015 0.015 0.015 5161C5 JCY-C5 0.015 -0.005 1772 0.420 0.550 34.52 29/06/2018 0.080 0.010 0.010 0.010 5161C6 JCY-C6 0.010 -0.005 1727.4 0.420 0.585 41.67 29/06/2018 0.130 0.065 0.115 0.105 8923WA JIANKUN-WA 0.115 -0.005 190.3 0.375 0.320 16.00 23/12/2021 0.180 0.050 0.065 0.050 0170WA KANGER-WA 0.055 -0.010 681.1 0.135 0.100 14.81 13/04/2020 0.155 0.015 0.015 0.015 5247C4 KAREX-C4 0.015 -0.005 180 1.110 1.550 41.67 30/04/2018 0.075 0.040 0.040 0.040 5247C7 KAREX-C7 0.040 -0.005 199.9 1.110 1.450 39.64 23/08/2018 0.035 0.010 0.025 0.020 3115WC KBUNAI-WC 0.025 0.005 121.3 0.070 0.131 122.86 20/10/2023 0.490 0.100 0.375 0.350 0151WA KGB-WA 0.355 -0.020 586.6 0.820 0.500 4.27 12/06/2019 0.140 0.010 0.010 0.010 0036WA KGROUP-WA 0.010 -0.005 100 0.135 0.400 203.70 02/07/2018 0.120 0.035 0.040 0.040 0036WB KGROUP-WB 0.040 Unch 1594.8 0.135 0.200 77.78 01/05/2020 0.130 0.050 0.065 0.060 7164WB KNM-WB 0.065 Unch 139 0.235 1.000 353.19 21/04/2020 0.092 0.055 0.060 0.055 7017WB KOMARK-WB 0.060 Unch 186.1 0.190 0.230 52.63 21/01/2020 0.145 0.020 0.110 0.090 5284CG LCTITAN-CG 0.100 -0.015 14321.2 5.360 6.500 32.46 30/04/2018 0.095 0.035 0.050 0.050 5068WB LUSTER-WB 0.050 Unch 200 0.100 0.100 50.00 26/05/2023 0.090 0.020 0.065 0.055 0017WA M3TECH-WA 0.065 Unch 6361.7 0.120 0.100 37.50 21/08/2019 0.105 0.010 0.010 0.010 858311 MAHSING-C11 0.010 -0.005 125.9 0.927 1.600 73.68 30/04/2018 0.240 0.010 0.030 0.020 8583WB MAHSING-WB 0.030 Unch 3482.2 1.360 1.440 8.09 16/03/2018 0.170 0.095 0.100 0.095 8583WC MAHSING-WC 0.100 Unch 166 1.360 2.100 61.76 21/02/2020 0.160 0.020 0.030 0.030 5264C2 MALAKOF-C2 0.030 Unch 890 0.905 1.050 19.34 30/04/2018 0.090 0.015 0.025 0.015 5264C3 MALAKOF-C3 0.020 -0.005 2132.1 0.905 1.000 14.92 19/03/2018 0.085 0.025 0.030 0.025 5264C5 MALAKOF-C5 0.030 -0.010 1818.1 0.905 1.150 32.04 29/06/2018 0.055 0.015 0.020 0.020 5264C6 MALAKOF-C6 0.020 Unch 585 0.905 1.200 35.91 29/06/2018 0.100 0.040 0.070 0.065 5264C8 MALAKOF-C8 0.065 -0.010 825 0.905 1.000 17.68 31/10/2018 0.990 0.095 0.180 0.160 6181WB MALTON-WB 0.170 -0.010 1602.5 0.930 1.000 25.81 29/06/2018 0.195 0.100 0.165 0.160 6012C3 MAXIS-C3 0.165 -0.030 140 6.010 5.600 0.04 30/04/2018 0.015 0.005 0.005 0.005 5189WA MAXWELL-WA 0.005 Unch 1931.2 0.015 0.400 2,600 24/03/2020 0.240 0.035 0.205 0.185 115531 MAYBANKC31 0.200 -0.005 1972.5 10.020 9.500 0.80 28/02/2018 0.135 0.050 0.055 0.050 115532 MAYBANKC32 0.055 -0.005 431.7 10.020 10.000 2.00 28/02/2018 0.420 0.125 0.365 0.350 115534 MAYBANKC34 0.350 -0.035 1556 10.020 9.250 1.05 30/08/2018 0.235 0.130 0.215 0.200 115535 MAYBANKC35 0.210 Unch 998.9 10.020 9.600 5.24 25/09/2018 0.180 0.090 0.155 0.145 115536 MAYBANKC36 0.155 -0.005 1113.2 10.020 9.400 3.09 23/08/2018 0.705 0.400 0.600 0.570 5152WA MBL-WA 0.600 -0.010 235.2 1.310 0.800 6.87 28/11/2022 0.105 0.005 0.020 0.010 1171C3 MBSB-C3 0.015 Unch 696 1.210 1.350 14.05 28/02/2018 0.150 0.030 0.110 0.100 1171C4 MBSB-C4 0.110 -0.015 2317.6 1.210 1.250 12.40 29/06/2018 0.105 0.050 0.080 0.075 1171C5 MBSB-C5 0.080 -0.005 9090.3 1.210 1.050 6.61 30/04/2018 0.065 0.015 0.035 0.030 1171C6 MBSB-C6 0.035 Unch 3527.3 1.210 1.400 21.49 14/05/2018 0.255 0.090 0.235 0.215 1171C7 MBSB-C7 0.235 Unch 641.6 1.210 1.100 10.33 28/09/2018 0.110 0.050 0.095 0.080 1171C8 MBSB-C8 0.090 -0.005 947.6 1.210 1.200 14.05 31/07/2018 0.090 0.060 0.085 0.075 1171C9 MBSB-C9 0.080 -0.005 14172.3 1.210 1.450 39.67 31/10/2018 0.199 0.050 0.060 0.050 1694WB MENANG-WB 0.055 Unch 148.7 0.465 0.550 30.11 09/07/2019 0.310 0.135 0.145 0.135 7234WA MESB-WA 0.145 0.005 605.5 0.360 0.300 23.61 27/12/2022 0.120 0.040 0.040 0.040 5186C4 MHB-C4 0.040 -0.020 250 0.780 0.850 19.23 30/04/2018 0.100 0.025 0.035 0.030 5186C5 MHB-C5 0.030 -0.010 626 0.780 0.900 23.08 14/05/2018 0.275 0.110 0.135 0.125 5186C6 MHB-C6 0.130 -0.025 227 0.780 0.800 15.90 30/08/2018 0.120 0.045 0.050 0.045 5186C8 MHB-C8 0.050 -0.010 258 0.780 0.920 30.77 24/08/2018 0.070 0.025 0.040 0.040 7219WA MINETEC-WA 0.040 -0.005 250 0.130 0.150 46.15 27/11/2019 0.115 0.020 0.040 0.030 381612 MISC-C12 0.030 -0.020 1534.2 7.200 7.500 5.42 30/03/2018 0.090 0.010 0.015 0.010 381613 MISC-C13 0.010 -0.025 289.5 2.103 8.000 282.31 19/03/2018 0.250 0.115 0.175 0.140 381614 MISC-C14 0.155 -0.045 1014 7.200 7.050 3.84 28/09/2018 0.105 0.020 0.045 0.035 0085WA MLAB-WA 0.045 Unch 276.4 0.075 0.090 80.00 24/04/2020 0.070 0.025 0.030 0.030 0085WB MLAB-WB 0.030 Unch 641 0.075 0.150 140.00 10/09/2020 0.085 0.050 0.060 0.050 0034WB MMAG-WB 0.060 0.005 8405.6 0.175 0.200 48.57 27/11/2022 0.115 0.005 0.020 0.020 2194C6 MMCCORP-C6 0.020 -0.005 529.2 1.910 2.450 30.37 30/04/2018 0.265 0.055 0.090 0.080 2194C8 MMCCORP-C8 0.090 -0.005 337.2 1.910 2.000 11.78 31/07/2018 0.055 0.025 0.035 0.035 0103WA MNC-WA 0.035 Unch 729 0.085 0.100 58.82 05/11/2021 0.110 0.015 0.020 0.015 3867CH MPI-CH 0.020 -0.005 3267 9.430 13.500 45.92 29/06/2018 0.060 0.020 0.035 0.030 0070WA MQTECH-WA 0.035 0.005 5235.6 0.060 0.100 125.00 21/11/2021 0.060 0.020 0.025 0.020 165120 MRCB-C20 0.020 -0.025 1030 1.100 1.484 38.04 30/04/2018 0.125 0.010 0.065 0.050 165121 MRCB-C21 0.060 -0.015 2844.1 1.100 1.222 18.20 30/04/2018 0.130 0.040 0.050 0.045 165123 MRCB-C23 0.050 -0.020 3745.9 1.100 1.134 11.06 19/03/2018 0.165 0.055 0.075 0.075 165124 MRCB-C24 0.075 -0.015 277.6 1.100 1.047 9.48 30/03/2018 0.070 0.020 0.030 0.025 165125 MRCB-C25 0.025 -0.005 750 1.100 1.309 23.76 30/03/2018 0.285 0.050 0.165 0.155 165126 MRCB-C26 0.165 -0.010 1176.4 1.100 1.056 12.35 29/06/2018 0.115 0.070 0.075 0.070 165127 MRCB-C27 0.070 -0.015 4377.4 1.100 1.300 34.09 28/09/2018 0.125 0.025 0.030 0.025 1651WA MRCB-WA 0.030 -0.005 2468.6 1.100 1.680 55.45 14/09/2018 0.440 0.295 0.375 0.355 1651WB MRCB-WB 0.365 -0.010 2398.3 1.100 1.250 46.82 29/10/2027 0.150 0.030 0.070 0.055 13821 MYEG-C21 0.065 Unch 702.5 2.400 2.280 5.83 30/03/2018 0.270 0.055 0.155 0.115 13824 MYEG-C24 0.115 -0.015 1539.6 2.400 2.100 -0.04 28/02/2018 0.360 0.090 0.230 0.215 13825 MYEG-C25 0.225 -0.010 180 2.400 2.000 4.43 29/06/2018 0.210 0.090 0.120 0.115 13827 MYEG-C27 0.120 -0.020 140 2.400 2.300 10.83 24/07/2018 0.160 0.090 0.160 0.160 13828 MYEG-C28 0.160 0.040 200 2.400 2.550 19.58 25/09/2018 0.330 0.200 0.215 0.210 13830 MYEG-C30 0.215 -0.005 150 2.400 2.100 9.90 27/07/2018 0.255 0.145 0.165 0.150 13831 MYEG-C31 0.155 -0.005 710 2.400 2.500 20.31 28/09/2018 0.200 0.120 0.130 0.130 13832 MYEG-C32 0.130 Unch 140 2.400 2.800 32.92 28/09/2018 0.230 0.115 0.145 0.125 13833 MYEG-C33 0.140 -0.005 525.7 2.400 2.500 15.83 31/10/2018 0.105 0.060 0.070 0.060 13835 MYEG-C35 0.065 -0.005 6478.5 1.100 2.650 170.45 28/09/2018 0.065 0.010 0.025 0.020 0020WB NETX-WB 0.025 Unch 12506.6 0.045 0.050 66.67 08/06/2019 0.030 0.015 0.015 0.015 0096WA NEXGRAM-WA 0.015 -0.005 153.3 0.035 0.100 228.57 16/05/2022 0.025 0.010 0.015 0.015 0096WB NEXGRAM-WB 0.015 Unch 208 0.035 0.260 685.71 21/07/2023 0.170 0.070 0.075 0.075 7241WA NGGB-WA 0.075 0.005 120.6 0.375 0.600 80.00 18/10/2020 0.415 0.225 0.250 0.245 0172WA OCK-WA 0.245 -0.005 1014.2 0.870 0.710 9.77 15/12/2020 0.255 0.080 0.125 0.125 7071WC OCR-WC 0.125 -0.005 174.6 0.525 0.500 19.05 24/07/2021 0.280 0.045 0.060 0.050 9008WB OMESTI-WB 0.060 Unch 1051.3 0.500 0.500 12.00 30/05/2018 0.095 0.040 0.080 0.075 0079WA ORION-WA 0.075 -0.005 7201.6 0.145 0.170 68.97 26/07/2022 0.300 0.140 0.220 0.205 5125WA PANTECH-WA 0.220 Unch 100.1 0.640 0.500 12.50 21/12/2020 0.300 0.145 0.215 0.205 5125WB PANTECH-WB 0.205 -0.010 265.8 0.640 0.500 10.16 21/12/2021 0.095 0.020 0.070 0.060 7225WB PA-WB 0.070 0.005 25190.3 0.095 0.060 36.84 17/12/2022 0.390 0.040 0.320 0.300 129515 PBBANK-C15 0.315 -0.015 1089.7 21.980 20.300 -0.48 30/04/2018 0.235 0.055 0.170 0.155 129516 PBBANK-C16 0.170 -0.005 1327.6 21.979 20.800 0.82 30/04/2018 0.155 0.065 0.120 0.115 129518 PBBANK-C18 0.115 -0.020 120 21.980 21.500 2.53 09/04/2018 0.150 0.060 0.115 0.110 6068WA PCCS-WA 0.110 -0.010 898.3 0.310 0.600 129.03 25/12/2022 0.290 0.200 0.225 0.200 9997WB PENSONI-WB 0.225 0.005 201.2 0.600 0.600 37.50 20/01/2024 0.485 0.235 0.245 0.240 8311WC PESONA-WC 0.245 Unch 593.1 0.445 0.250 11.24 27/01/2020 0.145 0.050 0.060 0.055 5219CA PESTECH-CA 0.060 -0.015 504 1.710 1.880 16.96 31/05/2018 0.115 0.025 0.060 0.055 5219CB PESTECH-CB 0.060 -0.010 1912.4 1.710 2.080 28.65 31/05/2018 0.105 0.035 0.090 0.035 5219CC PESTECH-CC 0.090 0.040 720.1 1.710 2.000 30.12 14/05/2018 0.155 0.020 0.150 0.110 5681CS PETDAG-CS 0.140 0.020 2231.9 25.700 24.100 -0.78 30/03/2018 0.160 0.115 0.160 0.145 5681CT PETDAG-CT 0.150 0.010 200 25.699 26.000 8.18 11/06/2018 0.200 0.100 0.190 0.170 6033CQ PETGAS-CQ 0.180 -0.010 745 18.040 17.000 6.21 24/08/2018 0.545 0.180 0.260 0.255 3042CD PETRONM-CD 0.260 -0.010 95 11.340 8.500 2.47 22/02/2018 0.535 0.225 0.235 0.225 3042CE PETRONM-CE 0.225 -0.035 460 11.340 10.880 15.78 30/04/2018 0.385 0.130 0.130 0.130 3042CF PETRONM-CF 0.130 -0.020 165 11.340 11.000 10.76 09/04/2018

Main Market & Ace Market Warrants

MarketsG L O B A L M A R K E T S . B 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 FEBRUARY 6, 2018 • 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 — Shares reverse losses, end higher as banks jump

SHANGHAI: China stocks recouped early losses sparked by a slide on Wall Street and ended higher yesterday, underpinned by robust gains in banking and transport shares that offset a slump in consumer shares. Sentiment was also lifted by a private survey showing China’s services sector got off to a fl ying start in 2018, expanding at its fastest pace in almost six years. An index tracking major listed lenders in China jumped 3.5%, posting its best day since March 2016, led by bellwether China Citic Bank, surging 9.8%, as banks forecast solid results for 2017. At the close, the Shanghai Composite Index (SSEC) was up 0.73% and the blue-chip CSI 300 Index was up 0.06%. The smaller Shenzhen Index ended down 0.84%, and the start-up board ChiNext Composite Index was weaker by 0.83%. The largest percentage gainers on the SSEC were Kailuan Energy Chemical Co Ltd up, 10.05%, followed by Xinjiang Talimu Agriculture Development Co Ltd, gaining 10.05%, and Xinjiang Ba Yi Iron and Steel Co Ltd, up by 10.03%. The largest percentage losses on the SSEC were Datang Telecom Technology Co Ltd, down 10.03%, followed by LONGi Green Energy Technology Co Ltd, losing 10.01% and Zhejiang ChiMin

Pharmaceutical Co Ltd, down by 10%. Hong Kong stocks ended lower yesterday but recouped much of their earlier losses sparked by a slide on Wall Street, as investors hunted for bargains via the Stock Connect linking the mainland and Hong Kong. The southbound quota of the Stock Connect linking Shanghai and Hong Kong was 71.9% used — the biggest percentage for a day since April 2015 — as investors bought banking and airline shares that also outperformed on the mainland market. The Hang Seng Index slumped as much as 2.7% before ending lower 356.56 points or 1.09% at 32,245.22. The Hang Seng China Enterprises Index fell 0.43% to 13,479.83. The sub-index of the Hang Seng tracking energy shares dipped 2.5%, while the IT sector dipped 2.11%. The fi nancial sector was 0.64% lower and the property sector dipped 1.83%. The top gainer on Hang Seng was AAC Technologies Holdings Inc, up 4.32%, while the biggest loser was Sino Land Co Ltd, which was down 3.42%. Property developer Country Garden has obtained regulatory approval to launch 10 billion yuan worth of quasi-real estate investment trusts (REITs), China’s largest so far, as the central government pushes for the growth of the rental housing market. The regulator approved the issuance of the asset-backed securities last Friday,

the Shenzhen Stock Exchange said in a fi ling yesterday. Country Garden is China’s largest property developer by sales. The securitisation size is the largest so far in the rental housing industry and the quasi-REIT market. Developers and rental housing operators have been rushing into the securitisation and debt market since the second half of last year to raise funds for the policy-supported but low-return sector. China announced plans in August to launch pilot programmes in 13 major cities, including Beijing and Shanghai, to build rental housing projects in an effort to ease a housing shortage. State-owned Poly Real Estate and Shanghai-based CIFI have gained approval to issue fi ve billion yuan and three billion quasi-REITs respectively for their rental housing projects late last year.

Japan — Nikkei suff ers biggest loss since US election, small caps hit

TOKYO: Japan’s Nikkei Share Average fell sharply yesterday as fear that US infl ation may be fi nally gathering pace pound global equities, with investors dumping small-cap shares. The Nikkei tumbled 2.5% to 22,682.08, its biggest one-day drop since Nov 9, 2016 when it tanked 5.4% after the shock US election win of US President Donald Trump. It was also the lowest close in more

than seven weeks and fell below its 50-day moving average for the fi rst time since September. The Nikkei Volatility Index jumped to 20.45, its highest close in three months. The broader Topix slumped 2.2% to 1,823.74, giving up almost all of its gains so far this year, with small-cap shares hit the hardest with Topix Small falling 2.5%. High-flying technology shares took the brunt of the global equity sell-off triggered by fears that US infl ation may gain momentum and force the US Federal Reserve into a more aggressive tightening path. Shin-Etsu Chemical fell 3.91%, while Murata Manufacturing dropped 3.45%. About 93% of shares declined, while only 5% of shares advanced. The latter included Sony and Honda Motor, which announced strong earnings last Friday. Chip-related shares tumbled, with Advantest Corp shedding 3.27% and Tokyo Electron sliding 1.97%. Real estate and banking stocks also lost ground, with Mitsui Fudosan dropping 3.28% and Sumitomo Realty and Development shedding 2.83%. Mitsubishi UFJ Financial Group fell 4.86% and Sumitomo Mitsui Financial Group declined 1.99%. Sony Corp bucked the weakness, rising 2.6% after it reported a nearly fourfold jump in third-quarter operating profi t on growing demand for its image sensors and raised its full-year earnings outlook. — Reuters

Shanghai CompositeIndex points

3,087.842

Mar 1, 2010 Feb 5, 2018

1900

2875

3850

4825

58003,487.50

+25.42(+0.73%)

Hang SengIndex points

21,056.93

Mar 1, 2010 Feb 5, 2018

32,245.22-356.56

(-1.09%)

15820

20315

24810

29305

33800

Nikkei 225Index points

10,172.06

Mar 1, 2010 Feb 5, 2018

8100

12200

16300

20400

24500

22,682.08-592.45

(-2.55%)

ASX 200Index points

4,686.53

Mar 1, 2010 Feb 5, 2018

6,026.200-95.200

(-1.56%)

3450.0

4162.5

4875.0

5587.5

6300.0

Bursa Malaysia Equity Derivatives

0.305 0.140 0.155 0.155 3042CG PETRONM-CG 0.155 -0.015 153.2 11.340 9.880 14.46 29/06/2018 0.305 0.110 0.125 0.120 3042CJ PETRONM-CJ 0.120 -0.020 310 11.340 13.000 30.51 24/07/2018 0.290 0.095 0.115 0.095 3042CK PETRONM-CK 0.100 -0.015 2270.6 11.340 12.500 23.46 11/06/2018 0.170 0.050 0.090 0.080 3042CM PETRONM-CM 0.090 -0.010 608 11.340 14.500 37.39 31/10/2018 0.330 0.150 0.315 0.295 8869C3 PMETAL-C3 0.310 -0.015 1043.3 5.730 4.300 2.09 14/05/2018 0.305 0.145 0.290 0.280 8869C4 PMETAL-C4 0.285 -0.010 411.1 5.730 5.000 7.16 29/06/2018 0.255 0.140 0.235 0.235 8869C5 PMETAL-C5 0.235 -0.010 165 5.730 5.350 11.82 24/07/2018 0.300 0.085 0.280 0.265 8869C6 PMETAL-C6 0.265 -0.025 500.4 5.730 5.000 5.76 28/09/2018 0.225 0.190 0.210 0.205 8869C7 PMETAL-C7 0.210 -0.005 152.8 5.730 6.300 24.61 28/09/2018 0.185 0.050 0.055 0.050 463411 POS-C11 0.055 -0.005 785 4.900 5.300 13.21 30/04/2018 0.120 0.060 0.060 0.060 463414 POS-C14 0.060 -0.005 324.2 4.900 5.400 17.55 30/08/2018 0.215 0.100 0.140 0.130 0186WA PTRANS-WA 0.130 -0.005 4324.4 0.285 0.235 28.07 19/09/2020 0.260 0.035 0.160 0.145 0007WA PUC-WA 0.150 -0.010 3139.8 0.245 0.100 2.04 25/12/2024 0.245 0.025 0.150 0.140 0007WB PUC-WB 0.145 -0.010 7789.9 0.245 0.100 0.00 15/02/2019 0.160 0.065 0.100 0.095 5256WA REACH-WA 0.100 -0.005 4447 0.365 0.750 132.88 12/08/2022 0.110 0.005 0.020 0.010 1066C2 RHBBANK-C2 0.010 -0.020 5109 2.665 5.600 111.26 28/02/2018 0.240 0.065 0.210 0.180 1066C3 RHBBANK-C3 0.180 -0.030 875 5.300 5.000 4.53 29/06/2018 0.140 0.075 0.105 0.100 1066C5 RHBBANK-C5 0.100 -0.025 425 5.300 5.000 5.66 31/07/2018 0.090 0.035 0.040 0.035 5270WA RSENA-WA 0.035 -0.005 16584.1 0.470 0.500 13.83 01/12/2023 0.145 0.010 0.015 0.015 521850 SAPNRGC50 0.015 Unch 2394.4 0.705 1.600 131.21 29/06/2018 0.065 0.005 0.010 0.010 521853 SAPNRGC53 0.010 Unch 380 0.705 1.780 156.74 29/06/2018 0.140 0.010 0.015 0.010 521854 SAPNRGC54 0.015 Unch 1890.4 0.705 1.500 118.09 31/05/2018 0.090 0.010 0.015 0.015 521855 SAPNRGC55 0.015 Unch 2127 0.705 1.550 126.24 24/07/2018 0.170 0.085 0.090 0.085 521858 SAPNRGC58 0.090 -0.010 3895 0.705 0.880 46.52 30/08/2018 0.175 0.090 0.100 0.090 521859 SAPNRGC59 0.090 -0.010 2877.9 0.705 0.800 32.62 21/09/2018 0.175 0.110 0.125 0.110 521860 SAPNRGC60 0.120 -0.015 1120.7 0.705 0.800 30.50 31/10/2018 0.110 0.055 0.060 0.055 521861 SAPNRGC61 0.055 -0.010 6727.9 0.705 0.900 43.26 28/09/2018 0.095 0.075 0.085 0.075 521862 SAPNRGC62 0.075 -0.020 3040.6 0.705 0.880 45.04 13/08/2018 0.025 0.005 0.015 0.015 0109WB SCBUILD-WB 0.015 0.005 979.9 0.030 0.050 116.67 06/11/2019 0.185 0.080 0.130 0.120 0161WA SCH-WA 0.130 Unch 6498 0.225 0.100 2.22 04/12/2021 0.785 0.180 0.210 0.180 7073WB SEACERA-WB 0.210 0.010 84.4 0.750 1.000 61.33 29/05/2019 0.260 0.200 0.215 0.205 7073WC SEACERA-WC 0.205 -0.015 1940.8 0.750 1.000 60.67 21/01/2021 0.250 0.165 0.220 0.195 5279CI SERBADK-CI 0.215 0.005 1296 3.520 3.400 17.97 31/07/2018 0.200 0.180 0.200 0.185 5279CJ SERBADK-CJ 0.200 0.005 103 3.520 3.600 22.16 13/08/2018 0.350 0.085 0.350 0.300 7165WA SGB-WA 0.345 0.030 10174.3 1.120 0.600 -15.63 07/04/2021 0.350 0.085 0.350 0.300 7165WA SGB-WA 0.345 0.030 10174.3 1.120 0.600 -15.63 07/04/2021 0.350 0.130 0.140 0.130 7246WA SIGN-WA 0.135 -0.020 144.7 0.625 0.970 76.80 21/04/2021 0.155 0.005 0.090 0.080 419715 SIME-C15 0.090 -0.015 252 2.930 10.000 256.66 19/03/2018 0.410 0.085 0.385 0.365 419716 SIME-C16 0.385 -0.015 190 2.930 2.500 11.60 31/07/2018 0.180 0.080 0.155 0.145 419719 SIME-C19 0.150 -0.010 830 2.930 3.000 12.63 31/10/2018 0.185 0.130 0.135 0.130 5285CA SIMEPLT-CA 0.135 -0.010 146.4 5.490 5.650 12.75 30/08/2018 0.210 0.035 0.135 0.120 5288CA SIMEPROP-CA 0.130 -0.015 469.1 1.530 1.450 11.76 30/08/2018 0.295 0.120 0.185 0.155 5288CB SIMEPROP-CB 0.155 -0.060 629 1.530 1.680 19.93 30/08/2018 0.150 0.105 0.140 0.105 5288CC SIMEPROP-CC 0.140 Unch 827.7 1.530 1.780 30.07 30/08/2018 0.235 0.075 0.095 0.085 7155CI SKPRES-CI 0.090 -0.010 3953.5 1.900 2.100 20.00 11/06/2018 0.165 0.150 0.150 0.150 7155CJ SKPRES-CJ 0.150 -0.010 100 1.900 2.200 37.89 31/10/2018 0.285 0.100 0.110 0.110 0093WA SOLUTN-WA 0.110 -0.005 240 0.225 0.200 37.78 04/07/2021 0.185 0.020 0.050 0.025 8664C1 SPSETIA-C1 0.040 0.005 1239.8 3.280 3.409 6.31 19/03/2018 0.220 0.130 0.180 0.160 8664C3 SPSETIA-C3 0.180 0.040 459.1 3.280 3.166 7.21 30/08/2018 0.115 0.060 0.090 0.085 8664C4 SPSETIA-C4 0.090 0.005 195 3.280 4.000 28.81 31/07/2018 0.085 0.035 0.060 0.040 8664C5 SPSETIA-C5 0.055 0.010 459.5 3.280 3.550 14.94 24/08/2018 0.140 0.050 0.065 0.065 0129WA SRIDGE-WA 0.065 -0.005 369.3 0.245 0.180 0.00 24/02/2023 0.125 0.020 0.075 0.075 0140WA STERPRO-WA 0.075 -0.005 547 0.290 0.480 91.38 17/02/2021 0.150 0.020 0.035 0.025 7143WA STONE-WA 0.035 Unch 135.5 0.190 0.300 76.32 21/06/2020 0.195 0.095 0.170 0.165 0080WA STRAITS-WA 0.170 -0.005 1071.4 0.265 0.115 7.55 10/08/2022 0.115 0.015 0.065 0.055 1201WA SUMATEC-WA 0.060 -0.010 1157.9 0.075 0.320 406.67 03/03/2021 0.055 0.015 0.030 0.025 1201WB SUMATEC-WB 0.025 -0.005 14813.7 0.075 0.175 166.67 13/11/2018 0.150 0.085 0.115 0.115 5263CL SUNCON-CL 0.115 -0.005 300 2.530 2.300 4.55 26/04/2018 0.230 0.125 0.180 0.170 5263CM SUNCON-CM 0.170 -0.030 120 2.530 2.300 2.67 31/07/2018



0.120 0.075 0.080 0.080 5263CN SUNCON-CN 0.080 -0.015 100 2.530 2.600 12.25 29/06/2018 0.165 0.110 0.135 0.135 5263CO SUNCON-CO 0.135 -0.005 220 2.530 2.400 8.20 24/07/2018 0.735 0.305 0.550 0.535 5211WB SUNWAY-WB 0.540 -0.015 552.2 1.710 1.860 40.35 03/10/2024 0.690 0.090 0.415 0.400 710630 SUPERMX-C30 0.410 -0.040 106 2.120 1.850 6.60 29/06/2018 0.265 0.090 0.165 0.155 710632 SUPERMX-C32 0.160 -0.025 1059 2.120 1.800 7.55 24/07/2018 0.255 0.085 0.150 0.135 710633 SUPERMX-C33 0.135 -0.030 3018 2.120 1.880 7.78 24/07/2018 0.265 0.140 0.165 0.140 710634 SUPERMX-C34 0.150 -0.015 1353.7 2.120 2.150 15.57 31/10/2018 0.155 0.090 0.095 0.090 710635 SUPERMX-C35 0.095 -0.005 145 2.120 2.380 25.71 28/09/2018 0.135 0.105 0.115 0.105 710636 SUPERMX-C36 0.105 -0.010 4266.7 2.120 2.600 37.50 28/09/2018 0.220 0.070 0.075 0.070 7082WB SYF-WB 0.075 Unch 205 0.375 0.700 106.67 11/11/2019 0.190 0.100 0.115 0.100 4898CG TA-CG 0.115 0.005 405.1 0.640 0.600 11.72 31/05/2018 0.130 0.025 0.030 0.025 0132WA TDEX-WA 0.025 -0.010 140.2 0.130 0.110 3.85 21/09/2018 0.365 0.050 0.280 0.250 534739 TENAGA-C39 0.275 -0.010 1196.6 15.820 14.600 0.98 29/06/2018 0.165 0.055 0.160 0.150 534740 TENAGA-C40 0.155 Unch 2016.5 15.820 16.000 10.94 24/07/2018 0.270 0.095 0.230 0.230 534741 TENAGA-C41 0.230 -0.005 150 15.820 15.500 4.52 29/06/2018 0.165 0.125 0.140 0.125 534743 TENAGA-C43 0.140 -0.005 461.7 15.820 16.000 8.22 28/09/2018 0.025 0.005 0.005 0.005 7079WB TIGER-WB 0.005 Unch 610 0.040 0.170 337.50 23/12/2018 0.130 0.005 0.010 0.005 5031CO TIMECOM-CO 0.010 Unch 515 4.380 9.750 124.20 30/04/2018 0.125 0.040 0.075 0.065 486320 TM-C20 0.065 -0.020 170 6.130 6.400 6.53 31/05/2018 0.280 0.125 0.175 0.165 0101WB TMCLIFE-WB 0.165 -0.010 230.2 0.845 0.750 8.28 21/06/2019 0.795 0.135 0.635 0.635 711323 TOPGLOV-C23 0.635 -0.030 172 9.120 6.500 2.60 28/09/2018 0.350 0.095 0.265 0.260 711325 TOPGLOV-C25 0.260 -0.015 260 9.120 6.880 3.95 31/07/2018 0.305 0.135 0.200 0.180 711329 TOPGLOV-C29 0.190 -0.015 793.7 9.120 9.150 12.83 31/10/2018 0.290 0.200 0.205 0.205 711330 TOPGLOV-C30 0.205 -0.010 120 9.120 9.000 16.67 06/08/2018 0.060 0.017 0.025 0.020 0118WB TRIVE-WB 0.025 0.005 838.6 0.040 0.090 187.50 28/08/2020 0.360 0.185 0.195 0.185 5401WA TROP-WA 0.195 -0.005 91.9 0.900 1.000 32.78 06/12/2019 0.165 0.090 0.090 0.090 7100CA UCHITEC-CA 0.090 -0.015 500 2.690 3.880 55.28 28/09/2018 0.090 0.065 0.070 0.065 7100CC UCHITEC-CC 0.070 -0.015 390 2.690 3.300 30.48 28/09/2018 0.520 0.025 0.390 0.350 0005WA UCREST-WA 0.375 -0.025 315.4 0.420 0.040 -1.19 20/03/2018 0.075 0.025 0.025 0.025 514848 UEMS-C48 0.025 -0.005 230 1.130 1.300 19.47 30/04/2018 0.075 0.010 0.010 0.010 514851 UEMS-C51 0.010 -0.010 360 1.130 1.200 7.96 22/02/2018 0.160 0.040 0.105 0.100 514852 UEMS-C52 0.105 Unch 625 1.130 1.100 8.96 31/05/2018 0.060 0.020 0.025 0.025 514853 UEMS-C53 0.025 -0.005 1617.5 1.130 1.250 15.49 30/04/2018 0.270 0.015 0.220 0.205 4588C2 UMW-C2 0.210 -0.015 376.8 6.880 5.700 -1.89 30/04/2018 0.270 0.095 0.160 0.150 5243WA UMWOG-WA 0.155 -0.010 9117 0.325 0.395 69.23 18/10/2024 0.110 0.015 0.015 0.015 5005C2 UNISEM-C2 0.015 -0.010 325 2.850 3.650 30.18 27/07/2018 0.200 0.015 0.020 0.015 5005CZ UNISEM-CZ 0.020 Unch 677 2.850 3.800 35.44 31/05/2018 0.335 0.200 0.235 0.230 0120WB VIS-WB 0.230 -0.025 267.4 0.520 0.750 88.46 16/11/2022 0.090 0.015 0.015 0.015 0069WB VIVOCOM-WB 0.015 -0.005 14818.8 0.115 0.200 86.96 07/09/2018 0.125 0.050 0.060 0.055 0069WC VIVOCOM-WC 0.060 Unch 1126.9 0.115 0.100 39.13 22/01/2020 0.115 0.055 0.060 0.055 0069WD VIVOCOM-WD 0.060 -0.005 2314.2 0.115 0.100 39.13 08/07/2020 0.055 0.020 0.035 0.035 7070WB VIZIONE-WB 0.035 -0.005 2130 0.170 0.160 14.71 20/06/2018 0.155 0.030 0.120 0.115 7070WC VIZIONE-WC 0.115 -0.005 611 0.170 0.100 26.47 05/02/2022 0.190 0.090 0.140 0.130 6963CS VS-CS 0.140 Unch 1460.7 3.030 2.680 6.93 29/06/2018 0.280 0.135 0.200 0.185 6963CT VS-CT 0.200 Unch 394.4 3.030 2.800 8.91 29/06/2018 0.120 0.035 0.060 0.055 6963CU VS-CU 0.060 Unch 1664 3.030 3.500 21.45 31/05/2018 0.085 0.025 0.040 0.035 6963CV VS-CV 0.040 -0.005 3375.4 3.030 3.600 24.09 14/05/2018 0.120 0.060 0.105 0.080 6963CW VS-CW 0.085 Unch 429 3.030 3.300 18.73 24/07/2018 0.165 0.140 0.140 0.140 6963CX VS-CX 0.140 -0.010 100 3.030 3.300 27.39 13/08/2018 1.570 0.265 1.340 1.290 6963WA VS-WA 1.320 -0.030 6754.7 3.030 1.650 -1.98 06/01/2019 0.150 0.045 0.075 0.055 9679C3 WCT-C3 0.075 -0.005 1500.4 1.590 1.700 15.17 29/06/2018 0.080 0.030 0.040 0.040 9679C4 WCT-C4 0.040 -0.005 110 1.590 1.850 22.14 30/04/2018 0.065 0.015 0.015 0.015 9679C5 WCT-C5 0.015 -0.005 90 1.590 2.200 40.72 14/05/2018 0.570 0.180 0.245 0.240 9679WE WCT-WE 0.245 -0.005 964.9 1.590 2.080 46.23 27/08/2020 0.130 0.010 0.055 0.050 5156WC XDL-WC 0.055 0.005 562.3 0.175 0.160 22.86 02/07/2018 0.020 0.005 0.015 0.010 0095WA XINGHE-WA 0.010 Unch 1413.4 0.055 0.100 100.00 22/03/2019 0.110 0.040 0.045 0.045 0165WA XOX-WA 0.045 Unch 3717.9 0.105 0.200 133.33 10/02/2019 0.200 0.100 0.140 0.135 7293CO YINSON-CO 0.140 -0.020 153 4.140 4.500 18.84 29/06/2018 0.140 0.110 0.125 0.110 7293CQ YINSON-CQ 0.120 -0.010 1070 4.140 4.300 15.46 24/08/2018 0.110 0.035 0.040 0.040 7020WB YKGI-WB 0.040 -0.005 200 0.165 0.500 227.27 28/05/2020 1.220 0.825 1.000 0.960 7066WA YONGTAI-WA 0.960 -0.040 274.1 1.500 0.500 -2.67 24/06/2020 0.435 0.100 0.150 0.135 6742WB YTLPOWR-WB 0.135 -0.025 1087.4 1.210 1.110 2.89 11/06/2018 0.095 0.025 0.035 0.030 2283WA ZELAN-WA 0.030 Unch 947.5 0.105 0.250 166.67 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

AEON CO.(M) (155,700) EMPLOYEES PROVIDENT FUND BOARD 118,912,100 26/1AMMB HOLDINGS (1,000,000) EMPLOYEES PROVIDENT FUND BOARD 284,636,037 26/1ASIA BRANDS 5,780,000 PEMBINAAN TEKNIKHAS 5,780,000 30/1AXIATA GROUP 93,200 EMPLOYEES PROVIDENT FUND BOARD 1,477,641,689 26/1AXIS REAL ESTATE 500,000 EMPLOYEES PROVIDENT FUND BOARD 175,883,013 26/1INVESTMENT TRUSTBERMAZ AUTO (789,900) KUMPULAN WANG PERSARAAN 60,914,520 30/1 (DIPERBADANKAN)BIMB HOLDINGS 7,152,600 EMPLOYEES PROVIDENT FUND BOARD 213,823,501 26/1BIOALPHA HOLDINGS 1,973,200 PERBADANAN NASIONAL 94,566,904 30/1BOON KOON GROUP 500,000 DATO’ GOH BOON KOON 51,385,997 26/1BOUSTEAD HOLDINGS 279,700 LEMBAGA TABUNG ANGKATAN TENTERA 1,189,891,318 26 & 29/1BOUSTEAD HOLDINGS 311,200 LEMBAGA TABUNG ANGKATAN TENTERA 1,190,202,518 30/1BUMI ARMADA (700,000) EMPLOYEES PROVIDENT FUND BOARD 363,729,095 25/1CAPITALAND (M) MALL TRUST (400,000) EMPLOYEES PROVIDENT FUND BOARD 200,386,400 25/1CAPITALAND (M) MALL TRUST (245,000) KUMPULAN WANG PERSARAAN 174,162,800 30/1 (DIPERBADANKAN) CIMB GROUP HOLDINGS (14,908,600) EMPLOYEES PROVIDENT FUND BOARD 1,292,660,042 23 - 24CIMB GROUP HOLDINGS 254,000 KUMPULAN WANG PERSARAAN 599,247,486 26 & 29/1 (DIPERBADANKAN)CYPARK RESOURCES (250,000) TAN SRI DR AZMIL KHALILI KHALID 16,248,356 30/1CYPARK RESOURCES (792,400) EMPLOYEES PROVIDENT FUND BOARD 24,825,900 26/1DIALOG GROUP (3,000,000) EMPLOYEES PROVIDENT FUND BOARD 573,068,950 26/1DRB-HICOM 2,246,500 LEMBAGA TABUNG HAJI 123,858,000 26 & 29/1EASTERN & ORIENTAL 25,000 LEMBAGA TABUNG HAJI 101,860,700 26/1EWEIN 322,100 HIJAUWASA 106,999,978 30/1FRASER & NEAVE HOLDINGS (373,400) EMPLOYEES PROVIDENT FUND BOARD 42,916,000 26/1GAS MALAYSIA 2,250,000 LEMBAGA TABUNG HAJI 102,250,000 26/1GLOBETRONICS TECHNOLOGY 106,300 EMPLOYEES PROVIDENT FUND BOARD 28,649,300 26/1GLOBETRONICS TECHNOLOGY 206,200 KUMPULAN WANG PERSARAAN 14,551,200 30/1 (DIPERBADANKAN) IGB REAL ESTATE 2,000,000 EMPLOYEES PROVIDENT FUND BOARD 327,891,513 26/1INVESTMENT TRUST IHH HEALTHCARE (1,153,275) EMPLOYEES PROVIDENT FUND BOARD 694,520,540 25/1INARI AMERTRON (750,600) KUMPULAN WANG PERSARAAN 212,509,550 30/1 (DIPERBADANKAN) INARI AMERTRON 564,000 EMPLOYEES PROVIDENT FUND BOARD 110,862,600 26/1IOI CORPORATION 1,935,300 EMPLOYEES PROVIDENT FUND BOARD 709,073,473 26/1IOI CORPORATION 215,500 TAN SRI DATO’ LEE SHIN CHENG 3,117,563,180 30/1JIANKUN INTERNATIONAL 326,900 ADVANCE INFORMATION MARKETING 16,078,400 29 & 30/1LBS BINA GROUP 64,500 KUMPULAN WANG PERSARAAN 80,956,800 30/1 (DIPERBADANKAN) LEWEKO RESOURCES (6,756,400) ABD AZIZ JANTAN 39,047,674 2/2MALAYSIA AIRPORTS HOLDINGS 881,400 EMPLOYEES PROVIDENT FUND BOARD 182,849,792 26/1MAXIS (1,469,300) EMPLOYEES PROVIDENT FUND BOARD 897,562,274 25/1MBM RESOURCES 141,000 EMPLOYEES PROVIDENT FUND BOARD 59,725,791 26/1MEDIA PRIMA 553,200 MORGAN STANLEY & CO. LLC. US 138,893,200 29 & 30/1MISC 1,506,200 EMPLOYEES PROVIDENT FUND BOARD 261,219,511 24 - 26/1MUHIBBAH ENGINEERING (M) (100,000) LEMBAGA TABUNG HAJI 38,462,900 29/1MYNEWS HOLDINGS 127,600 EMPLOYEES PROVIDENT FUND BOARD 40,389,800 29/1PENTAMASTER CORPORATION 500,000 KUMPULAN WANG PERSARAAN 35,036,332 30/1 (DIPERBADANKAN) PETRONAS CHEMICALS GROUP (5,664,300) EMPLOYEES PROVIDENT FUND BOARD 611,376,700 25 & 26/1PHARMANIAGA 60,000 LEMBAGA TABUNG ANGKATAN TENTERA 27,444,284 26, 29 & 30/1POH KONG HOLDINGS 250,000 YEOMAN 3-RIGHT VALUE ASIA FUND 29,750,000 29/1PPB GROUP 421,000 EMPLOYEES PROVIDENT FUND BOARD 127,029,179 26/1PUBLIC BANK (2,025,500) EMPLOYEES PROVIDENT FUND BOARD 543,223,800 26/1QL RESOURCES 431,000 EMPLOYEES PROVIDENT FUND BOARD 82,183,730 26/1S P SETIA 197,800 EMPLOYEES PROVIDENT FUND BOARD 207,888,503 25/1S P SETIA 21,900,000 KUMPULAN WANG PERSARAAN 285,314,179 30/1 (DIPERBADANKAN) SEACERA GROUP 259,300 NOBLE SUMMER 30,354,637 2/2SIME DARBY PLANTATION 2,143,900 EMPLOYEES PROVIDENT FUND BOARD 874,477,531 26/1SKP RESOURCES 152,500 KUMPULAN WANG PERSARAAN 163,932,300 30/1 (DIPERBADANKAN) SUPERLON HOLDINGS 150,000 CHAN KENG CHUNG 9,350,000 30/1SUPERLON HOLDINGS (90,700) KUMPULAN WANG PERSARAAN 16,715,700 30/1 (DIPERBADANKAN) TENAGA NASIONAL (9,864,700) KUMPULAN WANG PERSARAAN 325,347,825 30/1 (DIPERBADANKAN) UEM EDGENTA 250,000 LEMBAGA TABUNG HAJI 45,048,400 26 & 29/1UEM SUNRISE (109,900) LEMBAGA TABUNG HAJI 332,243,600 26/1VERTICE (1,600,000) VISTA LESTARI DEVELOPMENT 34,685,588 30/1YINSON HOLDINGS 117,100 EMPLOYEES PROVIDENT FUND BOARD 132,464,716 26/1

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

Insider moves (Filings on Feb 2, 2018)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.

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 $ 0.587 0.730 0.680 0.520 0.908 0.963 0.962 0.921 2.8485 4.589 60.789 4.366 2.682 9,872 46.804 80.124 5.642 37.634 2.658 2.738 5.773 23.030 5.710

EURO 1.705 1.245 1.159 0.886 1.549 1.643 1.640 1.569 4.8564 7.824 103.639 7.444 4.572 16,832 79.796 136.604 9.619 64.162 4.531 4.669 9.843 39.265 9.736

US $ 1.369 0.803 0.931 0.712 1.244 1.319 1.317 1.261 3.9010 6.285 83.250 5.979 3.672 13,520 64.098 109.730 7.726 51.539 3.640 3.750 7.906 31.540 7.820

SWISS FR 1.471 0.863 1.074 0.764 1.336 1.417 1.414 1.354 4.1888 6.749 89.392 6.420 3.943 14,518 68.827 117.825 8.296 55.342 3.909 4.027 8.490 33.867 8.397

STERLING £ 1.925 1.129 1.405 1.309 1.748 1.854 1.851 1.772 5.4821 8.832 116.992 8.403 5.161 19,000 90.077 154.204 10.858 72.428 5.115 5.270 11.111 44.323 10.990

CANADA $ 1.101 0.646 0.804 0.749 0.572 1.061 1.059 1.014 3.1361 5.053 66.927 4.807 2.952 10,869 51.530 88.214 6.211 41.433 2.926 3.015 6.356 25.356 6.287

BRUNEI $ 1.038 0.609 0.758 0.706 0.539 0.943 0.998 0.955 2.9566 4.763 63.096 4.532 2.783 10,247 48.580 83.165 5.856 39.062 2.759 2.842 5.992 23.904 5.927

SINGAPORE $ 1.040 0.610 0.759 0.707 0.540 0.944 1.002 0.957 2.9616 4.772 63.203 4.539 2.788 10,264 48.663 83.306 5.866 39.128 2.763 2.847 6.002 23.945 5.937

AUSTRALIA $ 1.086 0.637 0.793 0.739 0.564 0.987 1.047 1.045 3.0943 4.985 66.035 4.743 2.913 10,724 50.843 87.038 6.129 40.881 2.887 2.975 6.271 25.018 6.203

MALAYSIA RM 0.351 0.206 0.256 0.239 0.182 0.319 0.338 0.338 0.323 1.0000 1.611 21.341 1.533 0.941 3,466 16.431 28.129 1.981 13.212 0.933 0.961 2.027 8.085 2.005

100 CHINESE RMB 21.790 12.781 15.911 14.818 11.322 19.791 20.993 20.958 20.059 62.0680 1,325 95.134 58.431 215,118 1,019.849 1,746 122.931 820.029 57.915 59.667 125.797 501.827 124.429

100 BANGLAD’H TAKA 1.645 0.965 1.201 1.119 0.855 1.494 1.585 1.582 1.514 4.6859 7.550 7.182 4.411 16,241 76.994 131.807 9.281 61.909 4.372 4.505 9.497 37.886 9.394

100 DANISH KRONER 22.904 13.434 16.725 15.576 11.901 20.804 22.067 22.030 21.085 65.2430 105.12 1,392 61.420 226,122 1,072.02 1,835 129.22 861.98 60.88 62.72 132.23 527.50 130.79

100 UAE DIRHAM 37.291 21.873 27.230 25.359 19.377 33.872 35.928 35.867 34.329 106.2248 171.14 2,267 162.81 368,159 1,745 2,988 210.39 1,403 99.12 102.12 215.29 858.84 212.95

1000 INA RUPIAH 0.010 0.006 0.007 0.007 0.005 0.009 0.010 0.010 0.009 0.0289 0.046 0.616 0.044 0.027 0.474 0.812 0.057 0.381 0.027 0.028 0.058 0.233 0.058

100 INDIA RUPEE 2.137 1.253 1.560 1.453 1.110 1.941 2.058 2.055 1.967 6.0860 9.805 129.880 9.328 5.729 21,093 171.191 12.054 80.407 5.679 5.851 12.335 49.206 12.201

100 JAPAN YEN 1.248 0.732 0.911 0.849 0.648 1.134 1.202 1.200 1.149 3.5551 5.728 75.868 5.449 3.347 12,321 58.414 7.041 46.969 3.317 3.418 7.205 28.743 7.127

100 NORWEGIAN KRONER 17.725 10.397 12.943 12.054 9.210 16.100 17.077 17.048 16.317 50.4900 81.346 1,077 77.388 47.531 174,990 829.609 1,420 667.063 47.112 48.537 102.331 408.218 101.218

100 PHILIPPINE PESO 2.657 1.559 1.940 1.807 1.381 2.414 2.560 2.556 2.446 7.5690 12.195 161.528 11.601 7.125 26,233 124.367 212.905 14.991 7.063 7.276 15.340 61.196 15.174

100 QATAR RIYAL 37.623 22.068 27.473 25.585 19.549 34.173 36.248 36.187 34.635 107.1703 172.666 2,287 164.263 100.890 371,436 1,761 3,015 212.260 1,416 103.025 217.208 866.485 214.846

100 SAUDI RIYAL 36.519 21.420 26.666 24.834 18.975 33.170 35.184 35.124 33.618 104.0239 167.597 2,220 159.441 97.928 360,531 1,709 2,926 206.029 1,374 97.064 210.831 841.046 208.538

100 SWEDISH KRONOR 17.321 10.160 12.648 11.779 9.000 15.733 16.688 16.660 15.945 49.3400 79.493 1,052.950 75.625 46.449 171,005 810.713 1,388 97.722 651.869 46.039 47.431 398.920 98.913

100 THAI BAHT 4.342 2.547 3.171 2.953 2.256 3.944 4.183 4.176 3.997 12.3684 19.927 263.950 18.957 11.644 42,867 203.227 347.906 24.497 163.409 11.541 11.890 25.068 24.795

100 HK$ 17.512 10.271 12.787 11.909 9.099 15.906 16.872 16.843 16.121 49.8824 80.367 1,064.525 76.456 46.959 172,885 819.625 1,403 98.797 659.036 46.545 47.953 101.099 403.305

STOCK HIGH LOW CLOSE VOLUME (RM) (RM) (RM) ('000)

TGUAN 3.790 3.710 3.710 332.2PRLEXUS 0.610 0.585 0.585 512.8EG-PA 0.620 0.610 0.610 19.9KANGER 0.150 0.135 0.135 814.9BRAHIMS 0.415 0.395 0.395 457.3MUIPROP 0.255 0.240 0.255 720.1PIE 1.620 1.550 1.550 818.6POHUAT-WB 0.600 0.590 0.600 29BINACOM 0.515 0.490 0.495 2533.7FGV-C42 0.155 0.135 0.140 4305.6DSONIC-C4 0.035 0.025 0.030 1380MRCB-C28 0.070 0.070 0.070 20HSI-H2T 0.015 0.015 0.015 5.2DSONIC-C2 0.065 0.055 0.055 2080KANGER-WA 0.065 0.050 0.055 681.1HOMERIZ 0.820 0.790 0.790 731.4PWROOT 1.900 1.790 1.790 2803.9MISC-C13 0.015 0.010 0.010 289.5GESHEN 1.450 1.420 1.440 97.2SKPRES-CG 0.145 0.120 0.145 75.8FGV-C44 0.070 0.055 0.055 2584

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)

SGB-WA 0.350 0.300 0.345 10174.3CARLSBG 16.420 16.000 16.420 172.4SERBADK-CJ 0.200 0.185 0.200 103ATTA-PA 0.315 0.285 0.300 4187.4DIN040000223 98.300 97.300 98.300 0.25HEIM 19.640 19.100 19.600 82.8MYEG-C28 0.160 0.160 0.160 200DLADY 63.860 62.500 63.840 16.8F&N 30.300 29.200 29.880 260.1HSI-H4D 1.040 0.945 0.990 1750HSI-H4C 0.770 0.670 0.705 4190HSI-H4B 0.540 0.470 0.485 3123.1FBMKLCI-C3M 0.600 0.600 0.600 1000

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

China’s monthly exports of steel products

China’s real estate investment and steel output from 2014 to 2017

• IDC Malaysia FutureScapes 2018 at Sher-aton Imperial Kuala Lumpur Hotel, Jalan Sultan Ismail, Kuala Lumpur from 9.30am to noon.

• Honda Malaysia launches new Odyssey model at Setia City Convention Centre, Jalan Setia Dagang U13/AG, Setia Alam Seksyen U13, Shah Alam, from 4.30pm to 8.30pm.

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

FEB/MAR -3.0 -4.5 -4.5

INDEX AND FUTURES OPEN CHANGE INCONTRACT LAST CHANGE VOLUME INTEREST OPEN INTEREST

Money market

Commodities

FEB/MAR 5FEB/APR 7FEB/MAY 7MAR/APR 2

CPO FUTURES INDICATIVE ROLL-OVER

CPO/SOYOIL FUTURES BASIS (USD)CURRENT -74.293 MONTHS AVERAGE -96.516 MONTHS AVERAGE -90.50

OPEN CHANGE INCONTRACT LAST CHANGE VOLUME INTEREST OPEN INTEREST

FEB-18 2,500 25 1,120 2,758 -151MAR-18 2,495 27 1,567 10,289 -253APR-18 2,493 26 23,969 34,712 -189MAY-18 2,493 21 9,700 38,170 595JUN-18 2,489 21 3,886 45,630 736

Palm oil gains nearly 1% on weaker ringgit, short-covering

CPO prices react to various factors including soyoil prices, weather conditions and stockpiles. Open interest shows either increasing or decreasing market participation.

Oil prices nears one-month low

METAL & PRECIOUS METALSTIN US$/TON KLTM 21,500 50COPPER USC/IBS CMX 3.1840 -0.0140GOLD US$/TROY OZ CMX 1,336.10 1.50PLATINUM US$/TROY OZ NYMEX 996.10 -3.30PALLADIUM US$/TROY OZ NYMEX 1,028.00 -13.55SILVER USC/TROY OZ CMX 16.83 0.12ALUMINIUM RMB/TON SHF 14,410 -35ZINC RMB/TON SHF 26,935 230

ENERGYLIGHT CRUDE OIL US$/BBL NYMEX 64.80 -0.65HEATING OIL USC/GAL NYMEX 2.0170 -0.0271NATURAL GAS US$/MMBTU NYMEX 2.779 -0.013BRENT CRUDE US$/BBL ICE 67.61 -0.97GAS OIL US$/TON ICE 601.00 -8.25

CRUDE PALM OIL RM/TON MDEX 2,493 26RUBBER SEN/KG MRB 573.00 2.00CORN USC/BSH CBOT 358.25 -3.25SOYBEANS USC/BSH CBOT 971.00 -7.75WHEAT USC/BSH CBOT 440.25 -6.50LIVE CATTLE USC/IBS CME 126.13 -0.20COCOA US$/TON NYBOT 2,077 -8COFFEE USC/IBS NYBOT 122.25 -0.50SUGAR USC/IBS NYBOT 13.65 -0.03COTTON USC/IBS NYC 79.30 -0.16

AGRICULTURE UNIT EXCHANGE LAST PRICE CHANGE

Rubber - M’sia SMR 20

Sen/Kg

Jan 7, 2007 Feb 5, 2017

200

625

1050

1475

1900

573.00(+2.00)

SGS & ITS EXPORT ESTIMATES (TONNES)SHIPMENT DAYS

1 - 10TH DAYS1 - 15TH DAYS1 - 20TH DAYS1 - 25TH DAYSFULL MONTH

NOV’17 DEC’17 JAN’18

440/437 339/364 381/259 651/660 581/597 565/553 883/892 865/874 745/728 1,094/1079 1,108/1091 1,033/1,014 1,311/1,332 1,439/1422 1,313/1,290

MALAYSIAN PALM OIL BOARD

PRODUCTIONEXPORT STOCKS

FKLI

Index points Open Interest

Jan 4, 2010

2000

24000

46000

68000

90000

1200

1395

1590

1785

1980

Feb 5, 2018

1,848.00(-14.00)

Klibor

Implied interest rate (%)

Oct 1, 2000

3.70(Unch)

Feb 5, 2018

1.5

2.5

3.5

4.5

Centrifuged Latex

Sen/Kg

Jan 7, 2007

454.50(-6.00)

Feb 5, 2018

300

500

700

900

1100

CPO futures

FBM KLCI futures

FEB8 96.35 — — —MAR8 96.32 — — —APR8 96.30 — — —JUN8 96.27 — — —SEP8 96.27 — — —DEC8 96.27 — — —MAR9 96.22 — — —JUN9 96.22 — — —SEP9 96.22 — — —DEC9 96.22 — — —MAR0 96.22 — — —JUN0 96.22 — — —SEP0 96.22 — — —DEC0 96.22 — — —MAR1 96.22 — — —JUN1 96.22 — — —SEP1 96.22 — — —DEC1 96.22 — — —MAR2 96.22 — — —JUN2 96.22 — — —SEP2 96.22 — — —DEC2 96.22 — — —TOTAL 0 0

MONTH SETTLEMENT CHANGE VOLUME OPEN PRICE INTEREST

Klibor

Malaysian palm oil futures rose late yesterday, charting their fi rst session of gains in three, as the ringgit weakened and traders covered short positions. Weakness in the ringgit, in which palm oil is traded, makes the vegetable oil cheaper for holders of foreign currencies. Th e ringgit was down 0.3% at 3.8980 per US dollar at yesterday’s close of trade, after having gained more than 3% since the start of the year. Th e benchmark palm oil contract for April delivery on Bursa Malaysia Derivatives was up 0.9% at RM2,493 a tonne at the end of the trading day. It earlier rose as much as 1.2% when it hit its intraday high of RM2,496. “Th e market is projecting a weaker ringgit,” said a futures trader from Kuala Lumpur. Palm oil was supported by short-covering and forecasts of lower output, said another trader. Palm oil prices declined 0.4% in January due to a stronger ringgit and weak demand. Malaysia’s palm oil shipments in January fell 8% to 9% from a month earlier, according to data from two cargo surveyors. Palm oil output, however, is expected to decline in the fi rst quarter of the year in line with seasonal trends, reducing market supply and lending support to prices. A Reuters poll forecast that January production will fall 14.9% to 1.56 million tonnes, its lowest in seven months and the sharpest monthly drop in two years. — Reuters

SEP’17 OCT’17 NOV’17 DEC’17

1,780 2,009 1,943 1,834 1,515 1,549 1,354 1,423 2,019 2,190 2,557 2,732

MPOB FFB REF PRICE (MILL GATE PRICE)

NORTH 20.00% 545 19.00% 522 18.00% 498SOUTH 20.00% 550 19.00% 526 18.00% 502CENTRAL 20.00% 548 19.00% 524 18.00% 500EAST COAST 20.00% 546 19.00% 523 18.00% 499SABAH 22.00% 528 21.00% 507 20.00% 485SARAWAK 22.00% 534 21.00% 512 20.00% 490

REGION GRADE A GRADE B GRADE C OER (RM/TON) OER (RM/TON) OER (RM/TON)

(IN RM/TON) FEB’18 MAR’18 APR’18

CPO DELD 2,451 NO TRADE NO TRADEPK EX-MILL NO TRADE NO TRADE NO TRADECPKO DELD NO TRADE NO TRADE NO TRADERBD P.OIL FOB 2,524 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 neared their lowest in a month yesterday as rising US output and a weaker physical market added to the pressure from a widespread decline across equities and commodities. Last Friday’s US jobs report that showed the fastest wage growth in nearly nine years exacerbated a broader market sell-off that was already under way as European stocks backed off record highs, and a rising US dollar dented commodities. Brent crude futures were down 97 US cents at US$67.61 a barrel, while US West Texas Intermediate crude futures dropped 65 US cents to US$64.80. “Oil is caught up in this general risk-off move, not helped at the margins by a little bit of strength in the US dollar,” said Ric Spooner, chief market analyst at CMC Markets in Sydney. — Reuters

Commodities

shedding 5% to record its steepest fall in nearly 2½-years. — Agencies

CPO & Open Interest

CPO RM/tonne Open Interest

Jan 6, 2008 Feb 5, 2018

10000

57500

105000

152500

200000

1200

1950

2700

3450

4200

(+26)2,493

CPO vs Soyoil

CPO RM/tonne Soyoil US$/Ibs

Jan 6, 2008 Feb 5, 2018

0.3298(RM2,834/tonne)

2,493(+26)

0.000

0.175

0.350

0.525

1100

2425

3750

5075

6400 0.700

Th e US dollar remained mired near three-year lows yesterday after rebounding at the end of previous week as resurgent US wage infl ation data failed to quell scepticism among investors about the currency’s outlook. A strong US jobs report last Friday showed wages growing at their fastest pace in more than eight years, leading to a rebound for the US dollar and raising the possibility of more tightening by the US Federal Reserve than markets had anticipated. While stocks slumped yesterday and bond yields rose in response to the threat of quick policy tightening, analysts said the impact on the struggling US dollar was not so clear, as the unwinding of US dollar-funded carry trades clashed with growth in other parts of the world, especially Europe. — Reuters

US dollar rebound fi zzles despite jobs data boost

Th e FBM KLCI futures contracts on Bursa Malaysia Derivatives ended broadly lower yesterday, tracking the underlying cash market. At the close, February 2018 fell 14 points to 1,848; March 2018 dipped 16.5 points to 1,843.5; June contracted 17 points to 1,842.5; and September 2018 erased 19.5 points to 1,841.5. Turnover increased to 7,738 lots from 5,644 lots last Friday, while open interest rose to 38,154 contracts from 36,634 contracts previously. Th e underlying benchmark FBM KLCI fi nished 17.41 points lower at 1,853.07. Southeast Asian stock markets plunged yesterday as rising US bond yields on worries over the prospect of higher interest rates rattled equity investors, with Vietnam

FBM KLCI futures contracts end broadly lower

Crude Oil

US$/bbl

Apr 10, 2007 Feb 5, 2018

64.80(-0.65)

20.00

53.75

87.50

121.25

155.00

Gold

US$/troy oz

Aug 31, 2008 Feb 5, 2018

700

1020

1340

1660

1980

1,336.10(+1.50)

Long Rolls - KLCI futures

Index points

Jan 4, 2010

-4.50(-2.00)

Feb 5, 2018

-35.00

-21.75

-8.50

4.75

18.00

US Dollar

USD Index

Oct 2, 2006

71.0

79.5

88.0

96.5

105.089.262(+0.067)

Feb 5, 2018

FBMKLCI 1,853.07 -17.41 212.8M FEB 18 1,848.00 -14.00 7,333 37,048 -581MAR 18 1,843.50 -16.50 305 788 -2JUN 18 1,842.50 -17.00 73 282 0SEP 18 1,841.50 -19.50 27 36 9TOTAL 7,738 38,154 -574

FEB 18 24 4.03 5.34 4.54MAR 18 54 9.29 10.30 -1.01ROLL’S FAIR -5.55


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 . B U R SA M A L AY S I A E Q U I T Y D E R I VAT I V E 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]]

CONTRACT SETTLEMENT CHANGE HIGH LOW

KUALA LUMPUR: Th e FBM KLCI took a breather yesterday following the rapid gains since the last two weeks of 2017 to close lower amid some profi t-taking activity and the general decline in global markets. Th e FBM KLCI fell 17.41 points or 0.93% to 1,853.07. Th e fall marks the fi rst signifi cant decline in the FBM KLCI in 2018, after peaking at around the 1,870 level last week. PublicInvest head of research Ching Weng Jin said the decline in the index was due to profi t-taking activity, but added that the fundamentals of the local market remain intact. “Th e FBM KLCI fell in line with global markets, and there has been some profi t-taking activity. It’s about time the market took a breather after the rapid rise since the last few weeks of 2017. Either way, our fundamentals are still intact, so this is likely to be a short-term retreat,” said Ching. A total of 2.64 billion shares worth RM2.85 billion were done. Market breadth was negative as 777 decliners outnumbered 211 gainers, while 435 counters were unchanged. The top decliners were led by oil refiners Hengyuan Refi ning Company Bhd and Petron Malaysia Refi ning & Marketing Bhd, as well as shipping group MISC Bhd, while the gainers were led by Nestle (M) Bhd. The top active counter was Hibiscus Petroleum Bhd. Elsewhere in Asia, Japan’s Nikkei 225 fell 2.55%, Hong Kong’s Hang Seng Index contracted 1.09%, while South Korea’s Kospi was down 1.33%. — by Ahmad Naqib Idris

FBM KLCI loses 0.93% amid profit-taking, fall in global markets

KLCI CHANGE CLOSE VOLUME POINTS (RM) (RM) ('000)TELEKOM MALAYSIA -0.49 -0.080 6.130 2754.9IOI CORPORATION -0.51 -0.050 4.650 4169.8DIGI.COM -0.63 -0.050 4.930 6898.2SIME DARBY PLANTATION -0.66 -0.060 5.490 6398.1HONG LEONG BANK -0.70 -0.200 18.600 1477.3YTL CORPORATION -0.71 -0.040 1.500 6443.0PETRONAS GAS -0.77 -0.240 18.040 820.6AMMB HOLDINGS -0.78 -0.160 4.580 3603.3IHH HEALTHCARE -0.80 -0.060 5.970 8345.9GENTING MALAYSIA -0.96 -0.100 5.440 5347.7MAXIS -1.14 -0.090 6.010 3407.3AXIATA GROUP -1.17 -0.080 5.620 8728.6RHB BANK -1.24 -0.190 5.300 3746.5MAYBANK -1.41 -0.080 10.020 16510.6CIMB GROUP -2.39 -0.160 7.090 30825.3MISC -2.68 -0.370 7.200 3178.6SUB-TOTAL -17.04 OTHERS -0.37 GRAND TOTAL -17.41

1,851.50 1,842.50 1,849.00 1,840.50 1,844.50 1,839.50

Market movers

DOW JONES 25,520.96 -665.75S&P 500 2,762.13 -59.85NASDAQ 100 6,760.29 -141.21FTSE 100 7,443.43 -46.96AUSTRALIA 6,026.20 -95.20CHINA 3,487.50 25.42HONG KONG 32,245.22 -356.56INDIA 34,757.16 -309.59

INDONESIA 6,589.68 -39.15JAPAN 22,682.08 -592.45KOREA 2,491.75 -33.64PHILIPPINES 8,616.00 -194.75SINGAPORE 3,482.93 -46.89TAIWAN 10,946.25 -179.98THAILAND 1,810.32 -17.03VIETNAM 1,048.71 -56.33

CLOSE CHANGE CLOSE CHANGE

World equity indices

TURNOVER CHANGE CHANGE PRICE PE DIVIDEND (‘000) (RM) (%) (RM) RATIO YIELD (%)

Daily top 20 active stocks

NESTLE 116.600 0.700F&N 29.880 0.620DLADY 63.840 0.540DIN040000223 98.300 0.520HEIM 19.600 0.480PETDAG 25.700 0.220ENRA 2.820 0.200CARLSBG 16.420 0.180SHANG 5.050 0.100SGB 1.120 0.100KMLOONG 4.200 0.090HSI-H4D 0.990 0.085

HENGYUAN 13.040 -0.580PETRONM 11.340 -0.480HSI-C1T 1.610 -0.370MISC 7.200 -0.370LPI 19.200 -0.320HSI-C1P 1.730 -0.300ALLIANZ 12.820 -0.280BAT 33.320 -0.280PERSTIM 3.670 -0.260BIMB 4.150 -0.250SCIENTX 8.450 -0.240PETGAS 18.040 -0.240

UP CHANGE CLOSE (RM)

DOWN CHANGE CLOSE (RM)

Top gainers and losers (ranked by RM)

FBMKLCI-H4H 0.025 150.00PESTECH-CC 0.090 80.00HSI-H2U 0.055 57.14SCBUILD-WB 0.015 50.00APFT 0.015 50.00PUNCAK-WB 0.085 41.67FBMKLCI-H4M 0.035 40.00HSI-H2W 0.185 37.04MYEG-C28 0.160 33.33SPSETIA-C3 0.180 28.57TRIVE-WB 0.025 25.00FBMKLCI-H4L 0.025 25.00

HSI-H2T 0.015 -86.96MISC-C13 0.010 -71.43RHBBANK-C2 0.010 -66.67DSONIC-CZ 0.010 -66.67HSI-H2V 0.085 -57.50MRCB-C20 0.020 -55.56UEMS-C51 0.010 -50.00JCY-C4 0.010 -50.00MISC-C12 0.030 -40.00UNISEM-C2 0.015 -40.00IJM-C13 0.095 -34.48KGROUP-WA 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

FBMKLCI-H4H 0.025 150.00PESTECH-CC 0.090 80.00HSI-H2U 0.055 57.14SCBUILD-WB 0.015 50.00PUNCAK-WB 0.085 41.67FBMKLCI-H4M 0.035 40.00HSI-H2W 0.185 37.04MYEG-C28 0.160 33.33SPSETIA-C3 0.180 28.57TRIVE-WB 0.025 25.00FBMKLCI-H4L 0.025 25.00FBMKLCI-H4P 0.100 25.00

HSI-H2T 0.015 -86.96MISC-C13 0.010 -71.43RHBBANK-C2 0.010 -66.67DSONIC-CZ 0.010 -66.67HSI-H2V 0.085 -57.50MRCB-C20 0.020 -55.56UEMS-C51 0.010 -50.00JCY-C4 0.010 -50.00MISC-C12 0.030 -40.00UNISEM-C2 0.015 -40.00IJM-C13 0.095 -34.48KGROUP-WA 0.010 -33.33

UP CHANGE CLOSE (%)

DOWN CHANGE CLOSE (%)

Top gainers and losers - warrants (ranked by percentage)

HIBISCS 95,293 -7.89 -0.075 0.875 0.915 0.855EAH-WD 48,744 0.00 0.000 0.020 0.025 0.020NEXGRAM 26,251 0.00 0.000 0.035 0.040 0.035PA-WB 25,190 7.69 0.005 0.070 0.070 0.060INARI-C7 21,298 -20.00 -0.015 0.060 0.070 0.050DRBHCOMC37 19,419 1.39 0.005 0.365 0.395 0.320MRCB 19,400 -5.98 -0.070 1.100 1.160 1.100RSENA-WA 16,584 -12.50 -0.005 0.035 0.040 0.035VIVOCOM-WB 14,819 -25.00 -0.005 0.015 0.015 0.015SUMATEC-WB 14,814 -16.67 -0.005 0.025 0.030 0.025LCTITAN-CG 14,321 -13.04 -0.015 0.100 0.110 0.090MBSB-C9 14,172 -5.88 -0.005 0.080 0.085 0.075FINTEC-PA 14,129 0.00 0.000 0.070 0.070 0.065NETX-WB 12,507 0.00 0.000 0.025 0.025 0.020KBUNAI 11,734 0.00 0.000 0.070 0.070 0.070HSI-C1X 11,651 -8.24 -0.070 0.780 0.835 0.695

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

Moving average - 20-dayKL Composite Index

Volume (’mil)

Jan 2, 2008 Feb 5, 2018

1,853.07(-17.41)

1,837.06

820.0

1122.5

1425.0

1727.5

2030.0

0

300

600

900

1842.0

1843.6

1845.2

1846.8

1848.4

1850.0

1851.6

1853.2

1854.8

1856.4

1858.0

17:1516:3015:3014:3012:4511:3010:309:308:45

Index point

KL Composite Index

KLCI futures1,848.00

(-14.00)

1,853.07(-17.41)

FEB 18 1,848.00 -14.00MAR 18 1,843.50 -16.50JUN 18 1,842.50 -17.00

Jealousy is all the fun you think they had.— Erica Jong

HIBISCS 95,293.1 -0.075 -7.89 0.875 37.25 0.00SAPNRG 66,189.4 -0.030 -4.08 0.705 — 1.36SUMATEC 56,414.2 -0.010 -11.76 0.075 — 0.00PUC 50,162.6 UNCH UNCH 0.245 144.12 0.00UMWOG 49,087.0 -0.010 -2.99 0.325 — 0.00EAH-WD 48,743.9 UNCH UNCH 0.020 — 0.00AAX 44,730.4 -0.020 -4.88 0.390 54.67 0.00PA 42,033.8 UNCH UNCH 0.095 — 0.00HUAAN 41,518.0 -0.020 -3.64 0.530 — 0.00UCREST 31,572.4 -0.030 -6.67 0.420 21.53 0.00CIMB 30,825.3 -0.160 -2.21 7.090 15.17 3.45NEXGRAM 26,250.6 UNCH UNCH 0.035 — 0.00PA-WB 25,190.3 0.005 7.69 0.070 — 0.00INARI 23,099.0 -0.040 -1.26 3.130 25.16 2.71PWORTH 22,017.0 -0.010 -3.92 0.245 38.64 0.00XDL 21,600.9 -0.005 -2.78 0.175 24.00 0.00INARI-C7 21,298.1 -0.005 -7.69 0.060 — 0.00PERISAI 20,869.8 -0.005 -7.69 0.060 — 0.00XINGHE 20,727.5 UNCH UNCH 0.055 5.19 0.00DBE 20,411.3 UNCH UNCH 0.035 — 0.00

1,853.07 17.41 6,351.43 144.70 3,482.93 46.89 22,682.08 592.45 32,245.22 356.56 25,520.96 665.751,853.07 17.41 6,351.43 144.70 3,482.93 46.89 22,682.08 592.45 32,245.22 356.56 25,520.96 665.75KLCI FBM ACE FTSTI NIKKEI HANG SENG DOW JONES1,853.07 17.41 6,351.43 144.70 3,482.93 46.89 22,682.08 592.45 32,245.22 356.56 1,853.07 17.41 6,351.43 144.70 3,482.93 46.89 22,682.08 592.45 32,245.22 356.56

Documents

TUESDAY FEBRUARY 6, 2018 ISSUE 2585/2018 …tefd.theedgemarkets.com/2018/SKY/20180206pefld8.pdf · · 2018-02-05FBM KLCI 1853.07 17.41 KLCI FUTURES 1848.00 14.00 STI 3482.93 46.89