FBM KLCI 1826.95 5.20 KLCI FUTURES 1827.50 10.50 STI 3524.65 12.47 RM/USD 4.0070 CPO RM2605.

D 4.0070 CPO RM2605.00 20.00 OIL US$68.07 0.29 GOLD US$1315.40 5.00
PP 9974/08/2013 (032820)
PENINSULAR MALAYSIA RM1.50

WEDNESDAY JANUARY 10, 2018 ISSUE 2568/2018

Ekuinas sells

FINANCIAL
APIIT Group
for enterprise
value of

DAILY
RM725m
MAKE 7 HOME BUSINESS
BETTER
DECISIONS
www.theedgemarkets.com

2 THE EDGE FILE PHOTO

Pua: Did Putrajaya

fork out RM2.4b
to pay 1MDB’s debt
to IPIC?
RETRENCHED
WORKERS
4 HOME BUSINESS

Disappointing 2017
earnings weigh on
foreign interest
will be rehiredEsoon,
NTER
W !
says Miti
N O
A 5% to 5.5%
6 HOME BUSINESS economic
Palm oil export growth forecast
revenue poised to for 2018 will
hit RM80b in 2018, positively
says minister impact
7 HOME BUSINESS employment
opportunities.
AirAsia shares
ascend to Wong Ee Lin
all-time high has the story on
8 HOME BUSINESS
Page 5.
Datuk Seri Mustapa Mohamed

R&A files police

Auto sector to post higher sales in 2018
report against ex-MD
2 2  2 3 L I VE I T !

Seven ways the — Frost & Sullivan

wine world will 5 HOME BUSINESS
change this year
 FBM KLCI 1826.95 5.20 KLCI FUTURES 1827.50 10.50 STI 3524.65 12.47 RM/USD 4.0070 CPO RM2605.00 20.00 OIL US$68.07 0.29 GOLD US$1315.40 5.00
PP 9974/08/2013 (032820)
PENINSULAR MALAYSIA RM1.50

Ekuinas sells
WEDNESDAY JANUARY 10, 2018 ISSUE 2568/2018

FINANCIAL
APIIT Group
for enterprise
value of

DAILY
RM725m
MAKE 7 HOME BUSINESS
BETTER
DECISIONS
www.theedgemarkets.com

2 THE EDGE FILE PHOTO

Pua: Did Putrajaya

fork out RM2.4b
to pay 1MDB’s debt
to IPIC?
4 HOME BUSINESS
RETRENCHED
Disappointing 2017
earnings weigh on
foreign interest
WORKERS
will be rehired soon,
says Miti
A 5% to 5.5%
6 HOME BUSINESS economic
Palm oil export growth forecast
revenue poised to for 2018 will
hit RM80b in 2018, positively
says minister impact
7 HOME BUSINESS employment
opportunities.
AirAsia shares
ascend to Wong Ee Lin
all-time high has the story on
8 HOME BUSINESS
Page 5.
Datuk Seri Mustapa Mohamed

R&A files police

Auto sector to post higher sales in 2018
report against ex-MD
2 2  2 3 L I VE I T !

Seven ways the — Frost & Sullivan

wine world will 5 HOME BUSINESS
change this year

2
ON EDGE T V
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Senior Manager Elizabeth Lay
‘Building materials
not the cause of
high housing prices’
Steel, cement, ready-mixed concrete and sand are most utilised
BY W ONG E E LI N
KUALA LUMPUR: The prices of
four most-utilised building ma-
terials, namely steel, cement,
ready-mixed concrete and sand,
are not the contributing factors
in rising housing costs, says the
Malaysia Competition Commis-
sion (MyCC).
The MyCC had conducted a
market review on building mate-
rials in the construction industry
given the concerns raised by rele-
vant government agencies in rela-
tion to the rising cost of living and
the availability of less affordable
housing in the country.
The findings from the market
review show that the four build-
ing materials are not the main
factors that influence the rising
cost of housing, said MyCC in a
statement yesterday.
The market review focused on
the four most-utilised building ma-
terials namely steel, cement, ready-
mixed concrete and sand which
accounted for close to 60% of the
estimated value of the top eight
building materials used in con-
struction projects in 2016. Among
the top eight building materials are
bricks, plywood, paint and glass.
“No obvious or major anti-com-
petitive concerns were found dur-
ing this market review. However,
there are several areas that may
possibly restrict competition in
the future or competitiveness of
local industry players,” it said in
the 221-page report.
“Chief among these are the high
Pua: Did Putrajaya fork out RM2.4b to pay 1MDB’s debt to IPIC?
BY SURIN MURUGIAH
KUALA LUMPUR: Opposition law-
maker Tony Pua has demanded to
know as to how embattled state in-
vestment fund 1Malaysia Develop-
ment Bhd (1MDB) was able to make
its final US$602.7 million or RM2.4
billion settlement payment to Abu
Dhabi’s International Petroleum In-
vestment Co (IPIC) on Dec 27 last
year, four days ahead of the deadline.
In a statement yesterday, Pua,
member of parliament (MP) for Pet-
aling Jaya Utara and DAP national
publicity secretary, asked if the min-
istry of finance (MoF) had forked out
another RM2.4 billion to foot the bill
for 1MDB’s debt to IPIC.
“The problem is we all know
1MDB is completely insolvent. So,
Malaysians are rightly concerned
as to how 1MDB paid its latest in-
‘No obvious or major anti-competitive concerns were found during this market review,’
MyCC says.
financial barrier to entry for up-
stream steel and cement man-
ufacturing, import of steel from
China, as well as the common
vertical integration and territo-
rial-based operational structure
among industry players,” it added.
The report noted that other ar-
eas include the potential impact
of safeguard duty for the import
of steel (which needs to be further
assessed), lack of usage of local
materials by foreign contractors
especially those from China, and
the level of awareness among both
industry players and users of prac-
tices that may be in breach of the
Competition Act.
stalment of their debt.
“All that is stated in the official
1MDB statement is, the payment
is funded through its ‘ongoing ra-
tionalisation programme’,” he said.
Pua stresses that no one has a
clue as to what the rationalisation
programme entails.
He also raised issue with a recent
report in Singapore’s The Straits
Times and asked if the news was a
carefully planted leak to the paper,
adding the report merely identified
the anonymous buyers as “concerns
ultimately controlled by Chinese
state-owned enterprises”.
Pua claims this is not the first
time The Straits Times had carried
out hatchet stories which helped
cover up some of 1MDB’s financial
shenanigans.
“When the Bandar Malaysia sale
to an Iskandar Waterfront-led con-
WEDN ESDAY JAN UARY 1 0 , 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY
For breaking news updates go to
www.theedgemarkets.com
It has been highlighted by man-
ufacturers, distributors and con-
tractors that there is an increasing
number of construction projects
which are undertaken by con-
tractors from China, according
to the report.
“It was claimed that these pro-
jects imported most of the build-
ing materials from China, which
affected the demand for locally
produced materials. Although this
does not restrict competition, it is
a concern shared by all industry
players who requested for some
form of government intervention
to promote usage of local materi-
als,” said MyCC.
sortium was terminated out-of-
the-blue by the MoF, it was [The
Straits Times] which created a me-
dia maelstrom by reporting on May
9, 2017 that ‘government officials
and financial executives close to
the situation told The Straits Times
that negotiations with the Dalian
Wanda Group to take a central role
as master developer have reached
an advanced stage’,” he added.
He asked if 1MDB had really
succeeded in disposing of its prop-
erties in Pulau Indah and Penang
to China-owned state enterprises,
and why the absolute silence from
official sources.
“Surely if the companies own-
ing these parcels of land were sold
for billions of ringgit to foreign in-
vestors, from China or otherwise,
official transactions would have
taken place and the information
IN BRIEF
SpaceX dealt blow as
satellite goes missing
SAN FRANCISCO: A military sat-
ellite launched by Elon Musk’s
Space Exploration Technologies
appears to have crashed into the
sea following a malfunction in
the latter stages of its ascent, a
potential setback for the billion-
aire’s rocket programme. In a
mission code named Zuma, a
SpaceX Falcon 9 rocket took off
from Cape Canaveral Air Force
Station in Florida on Sunday car-
rying a classified payload. The
US strategic command, which
monitors more than 23,000
man-made objects in space,
said afterwards it isn’t tracking
any new satellites following the
launch. — Bloomberg
Airbus lifts narrow-body
output in China
BEIJING: Airbus SE will accel-
erate production of the A320
workhorse model in Chi-
na to six a month by 2020 as
the European plane-maker
seeks to meet global demand
while pursuing more orders
in Asia’s largest economy. The
narrow-body build rate at the
Tianjin plant east of here will
increase from the current four
planes a month, Airbus chief
operating officer Fabrice Bregi-
er said yesterday during a visit
to China with a trade delegation
led by French President Em-
manuel Macron. — Bloomberg
Saudi said to weigh
increasing US$10b loan
DUBAI: Saudi Arabia is consider-
ing increasing the size of a US$10
billion (RM40.1 billion) loan after
banks on the 2016 deal offered to
lend more, people familiar with
the matter said. Lenders are in
talks with the government to in-
crease the amount it borrowed,
said the people, asking not to be
identified because the discus-
sions are private. The kingdom
could add as much as US$5 bil-
lion to the loan, one of the people
said. Saudi Arabia’s ministry of
finance didn’t immediately re-
spond to requests for comment.
— Bloomberg
would be publicly available.
“More curiously, these parcels of
land in Selangor and Penang were
purchased by 1MDB for RM294 mil-
lion and RM1.1 billion respectively.
Critics were aplenty in citing both
parcels were purchased at inflated
prices. However, even so, the com-
bined purchase amounted to less
than RM1.4 billion,” he said.
Pua said it begs the question as
to which Chinese state-owned en-
terprises would pay an outrageous
RM2.4 billion for these parcels of
land, which in turn allowed 1MDB
to repay its second loan instalment
to IPIC.
“Or is it more likely that it is an-
other hoax to evade disclosing the
fact that it was really the MoF, which
directly or indirectly, repaid both
instalments amounting to US$1.24
billion to IPIC?”
4 HOME BUSINESS WEDN ESDAY JAN UARY 1 0 , 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY

Disappointing 2017 earnings

weigh on foreign interest
It makes Malaysian stocks more expensive on a PE basis compared with regional peers — Nomura
BY SA M A N THA H O as a 0.8% increase in core inflation
2017 market returns breakdown: Malaysia’s 21% return in 2017 Asean: PEG ratio due to stronger domestic demand.
KUALA LUMPUR: Weak company (US$ terms) 6
The rise in crude oil price also has
earnings have continued to dampen % change in fP/E % change in fEPS
positive ramifications for the federal
foreign interest in Malaysian equities, 70 5 government’s fiscal deficit target of
% change in FX Index total returns (US$)
making them more expensive on a 60 4 2.8%, Tan said, noting the current
price-earnings (PE) basis compared 50
3
price of US$68.11 (RM273) per barrel
with their regional peers, according 40 for brent crude oil is already above
to Nomura Global Markets Research. 30 2 the US$52 used by the government
“Margins remain a drag on cor- 20 1 to table its 2018 budget.
porate earnings due to the high cost 10
0
“We expect the government to
of doing business,” Nomura head front-load spending in the first half

Malaysia

Singapore

Thailand

Philippines

Indonesia
0
China

Korea

India

HK

Singapore

Thailand

Taiwan

Philippines

Japan

Indonesia

of Malaysia equity research Tushar
Mohata yesterday told a media brief-
ing on the research house’s outlook
for Malaysia’s economy and equity
markets in 2018.
He pointed to the disconnect
between strong economic growth,
which had helped companies im-
proved their top-line, and their mar-
gins, hit by various rising costs ac-
cording to sectors.
According to Nomura, not only
were returns on Malaysian stocks
the lowest in Asia last year, a large
portion of these returns was also
the result of changes in the foreign
exchange instead of higher forecast
earnings. (See Chart 1)
Malaysia’s forward dividend yields
were also below the historical average
of 3.4, and the average forward PE
ratio was above a mean of 15.1 times.
“On a PE-to-growth ratio basis,
Malaysia looks like the most expen-
sive market in Asean (see Chart 2),”
Mohata said, recommending inves-
tors to be selective in stock pickings
in 2018.
Nomura selects banking, con-
struction, telecommunications and
-10
-20
Source: Bloomberg, Department of Statistics Malaysia, Nomura Research
Chart 1
gaming as its top sector picks for
2018, expected to benefit indirect-
ly from a forecast improvement in
consumer confidence.
Meanwhile, Nomura expects the
consumer discretionary and utilities
sectors to see greater interest ahead
of the upcoming 14th general elec-
tion. “We expect the next general
election (to be) in early 2018 and
based on historical analyses, we ex-
pect a similar outperformance in the
consumer discretionary and utilities
sectors around the election period,”
it added.
“There is already some fragile but
positive recovery in the retail and
automotive sectors,” Mohata said,
noting the real estate sector remains
a risk, with oversupply likely to cap
any meaningful price appreciation.
Nomura is maintaining its end-
2017 FBM KLCI target of 1,860 points
Malaysia
Source: Bloomberg, Department of Statistics
Malaysia, Nomura Research
Chart 2
based on corporate earnings growth However, the upcoming election is
of 4% to 5%. The benchmark index unlikely to trigger significant market
closed 5.2 points or 0.28% lower at movements as there is less uncer-
1,826.95 yesterday. tainty over the incumbent Barisan
Mohata opines that the current National party winning at the polls,
market rally is liquidity-driven as he added.
investors want to get ahead of an On the economic front, ex-
appreciating ringgit, which slipped ports are expected to remain sol-
0.29% at 4.0095 against the US dol- id this year, leading to ongoing
lar yesterday. spillover effects into domestic
While it is difficult to say whether consumption.
there will be a short-term correction “The lift in exports is likely to be
to the current rally, he said the mar- driven by continuous demand in
ket is likely to remain bullish at least the electrical and electronics sector,
ahead of the 2017 fourth-quarter fi- which may see some moderation
nancial reporting season. considering 2017’s high pace but is
“If the cost of capital for investors still expected to perform,” said Brian
remains low, we might see a sus- Tan, Nomura economist for South-
tained inflow for the next three to east Asia.
four months,” he said, citing an ex- He said an increase in crude oil
pected appreciation in the ringgit, a price by US$10 per barrel is likely to
healthy macroeconomic outlook, and result in a 0.4% increase in the coun-
pre-election sentiments as drivers. try's current account surplus, as well
of the year ahead of the election, and
then to reduce spending post-elec-
tion,” he said.
More cash handouts and target-
ed subsidies are likely directions for
fiscal spending instead of blanket
subsidies, Tan added.
While Nomura has yet to update
its ringgit forecast, Tan opines that
the ringgit is expected to continue
appreciating gradually.
As a result, exporters may see a
partial reversal of export gains and
a slight decline in competitiveness.
“The emphasis is on ‘partial’ be-
cause the ringgit is still relatively
cheap compared with [the curren-
cies of] its regional peers,” he said,
adding that he is “not terribly wor-
ried” that an appreciating ringgit will
hamper export growth.
Although it is difficult to com-
pete with Vietnam, which has a low
base and cheaper costs of produc-
tion, Tan sees Malaysia “stacking
up quite well” as its exports remain
diversified.
Greater applications for electron-
ic products are likely to support de-
mand for Malaysian exports as well.

Extra IRB tax bill for IDimension
BY C H E ST ER TAY
KUALA LUMPUR: The Inland Rev-
enue Board (IRB) has asked IDi-
mension Consolidated Bhd to pay
an additional RM406,019 in in-
come tax and penalty.
In a filing with Bursa Malaysia,
IDimension said its wholly-owned
subsidiary IDB Interactive Sdn Bhd
received via an email a notice of
additional assessment for 2013 and
2014. This involved an additional
income tax of RM280,013 and a
45% penalty of RM126,006.
IDimension said these were
imposed by the IRB with a view
that the expenses charged in the
two years were not qualified for
tax deduction under Section 33(1)
of the Income Tax Act, 1967. “In
view that the disputed expenses
were mainly on documents relat-
ed to IDB in [the] year of assess-
ment 2013 and 2014, where IDB
was yet to be wholly owned by
the company, the company will
not pursue further appeal with
IRB,” IDimension said. In turn, the
group said it will apply to IRB to
settle the additional tax together
with the penalty imposed on IDB
in instalments.
IDimension is the latest public
listed company to be subjected to
additional tax. Last month, IRB
slapped AEON Credit Service (M)
Bhd with a RM96.82 million bill
for additional income taxes with
penalties for the years of assess-
ment 2010 to 2016.
Also last month, S P Setia Bhd’s
unit was slapped with a back tax
bill of RM75.38 million, but the
company said it has grounds to
contest the notice. In October, IRB
slapped Cocoaland Holdings Bhd
with RM5.89 million in additional
taxes and penalties. In Septem-
ber, EcoFirst Consolidated Bhd
said it was sued by the IRB over
some RM35.47 million in addi-
tional taxes and penalties. In May,
the IRB sought RM80.77 million
in additional taxes and penalties
from MK Land Holdings Bhd’s
Serba Dinamik plans private
placement to raise up to RM433.88m
wholly-owned subsidiary Saujana BY WO N G E E L IN shares, representing up to 10% of
Triangle Sdn Bhd, while Magnum its total number of issued shares
Bhd and its wholly-owned unit KUALA LUMPUR: Serba Dina- of 1.34 billion as at Jan 3, 2018.
Magnum Holdings Sdn Bhd were mik Holdings Bhd, which un- For illustrative purposes, the
served with notices of assessment derwent listing on Bursa Malay- indicative issue price of a place-
for additional taxes and penalties sia on Feb 8 last year, is seeking ment share would be RM3.25
totalling RM476.5 million. to raise up to RM433.88 million based on the five-day volume
In that same month, Country through a private placement to weighted average market price
Heights Holdings Bhd announced fund the partial development of of Serba Dinamik shares, raising
that its executive chairman and Pengerang eco-Industrial Park approximately RM433.88 million.
major shareholder Tan Sri Lee (PeIP) in Johor. Of the total gross proceeds, it
Kim Yew’s fixed deposits of some The proposed private place- plans to use RM270.49 million
RM126 million placed in a for- ment will enable the group to raise for the partial development of
eign-owned bank was seized by the the requisite funds primarily to fi- PeIP, RM44.98 million for partial
IRB in relation to RM22.5 million nance the capital expenditure for development of PICC, RM111.11
worth of tax liabilities incurred by PeIP, as well as to partly finance million for working capital for the
Country Height’s wholly-owned the development of Pengerang Tanzania project and the rest for
unit Country Heights Sdn Bhd. International Commercial Cen- expenses in relation to the pro-
The tax liabilities were accrued tre (PICC) and to meet future posed exercise.
from the years of assessment 1997 obligations for an engineering, The proposed exercise is ex-
and 1998. procurement, construction and pected to be completed in the
In April, the IRB slapped Tenaga commissioning contract under first quarter of 2018.
Nasional Bhd with an extra RM2.07 the Tanzania project, it added. Serba Dinamik shares closed
billion tax bill for the 2013 to 2014 In a filing with Bursa Malaysia nine sen or 2.58% lower at RM3.40
tax years. In October 2016, the yesterday, the engineering solu- yesterday, with a market capitali-
IRB also went after a subsidiary of tions provider said the proposed sation of RM4.54 billion. The stock
Mega First Corp Bhd for RM22.8 private placement entails the is- has risen 126.67% from its initial
million. suance of up to 133.5 million new public offering price of RM1.50.
WED N ES DAY JA N UA RY 1 0 , 20 1 8 • T HEED G E FINA NCIA L DA ILY
Retrenched
workers will be
rehired soon — Miti
A 5%-5.5% GDP forecast this year will boost job prospects
BY WO N G EE L I N
KUALA LUMPUR: Finding a job
isn’t that difficult for retrenched
workers. According to Interna-
tional Trade and Industry Minister
(Miti) Datuk Seri Mustapa Mo-
hamed, a majority of retrenched
workers has been quickly re-em-
ployed by new and expanding
businesses.
While the minister acknowl-
edges there will be retrench-
ments this year, Miti, however,
anticipates the total number of
retrenchments in 2018 may not
be as high as claimed.
“Malaysia’s sustainable eco-
nomic growth of 5.9% in the first
nine months of 2017 and a fore-
cast [gross domestic product
(GDP) growth] of around 5% to
5.5% for 2018 will have a positive
impact on employment oppor-
tunities, including in new areas
such as aerospace and the digi-
tal economy,” said Mustapa in a
statement issued yesterday after
the discussion on issues concern-
ing the cost of doing business and
employment opportunities at the
Cabinet meeting and Economic
Council meeting last week.
Mustapa also pointed out
changes in technology and in-
dustrial structure, resulting in
workers’ displacement, are the
EDITOR’S PICKS FROM
theedgemarkets.com
SC orders Singapore-based blockchain start-up
CopyCash Foundation to halt ICO set for today
BY A DA M A ZI Z
KUALA LUMPUR: The Securities
Commission Malaysia (SC) has
directed Singapore-based block-
chain start-up CopyCash Foun-
dation to halt all its activities in
Malaysia, including a planned
initial coin offering (ICO) sched-
uled today.
In a statement yesterday, the
SC said the decision comes af-
ter it found a “reasonable likeli-
hood” that disclosures in Copy-
Cash’s white paper, as well as its
representations to potential inves-
tors, will “contravene relevant re-
quirements under securities laws”.
“This directive covers all activ-
ities as described in or incidental
to CopyCash Foundation’s white
knowledge-driven economy’s fea-
tures, even in good times.
“This is also true for Malaysia
as we transition from a labour-in-
tensive to a knowledge-driven
economy. It is therefore incorrect
for some quarters to allege that
50,000 workers will be retrenched
primarily due to the rising cost of
doing business,” he said.
New manufacturing projects
implemented between 2014 and
2016 created over 153,000 jobs.
An additional 32,700 jobs in the
manufacturing sector will be cre-
ated from investments secured
in the first nine months of 2017,
said Mustapa.
Further, he noted the govern-
ment has been taking concerted
steps to prepare the workforce to
meet the changing nature of jobs,
including strategies to upgrade
skills and reskill the workforce,
especially in light of megatrends,
such as Industry 4.0 and auto-
mation.
“A number of new investments
and companies expanding last
year such as Broadcom and Osram
in Penang, Konica Minolta in Mel-
aka, Infineon in Kedah, Roland
and IKEA in Selangor, as well as
BMW in Johor, have created more
job opportunities in the country,”
said Mustapa, adding that oil and
gas companies are starting to hire
paper pursuant to the ICO, in-
cluding any roadshows, seminars
or promotional events related to
the scheme,” the SC said.
In its white paper, CopyCash
Foundation said it is a “social
travestying platform”, essential-
ly an investing platform built on
blockchain technology allowing
investors to view other investors’
trading actions, with an option to
automatically copy those actions.
CopyCash said it integrates dif-
ferent exchanges into its platform,
focusing on foreign exchanges and
cryptocurrencies in its initial stage.
Users must pay an annual fee to
use the platform, as well as com-
missions for profits generated from
the automated trading mechanism
or “copytrading”.
again, especially in the upstream
and offshore businesses as they
seek to capitalise on the high oil
price in recent times.
Mustapa said as at the third
quarter of 2017 (3Q17), the total
employed persons increased to
14.48 million from 14.42 million
in the previous quarter.
Moving forward, while the
hiring of foreign labour has been
challenging, Mustapa said Miti
will continue to engage the pri-
vate sector to bridge the gap
between industry players’ de-
mands and the government’s
overall policies.
Noting the current unem-
ployment rate of around 3.3% is
the lowest in the region and ex-
pected to remain stable, Musta-
pa said the implementation of
sound macroeconomic policies,
Budget 2018 proposals and the
11th Malaysia Plan, as well as
strong exports and continued
strong investment flows will gen-
erate more jobs locally.
A total of 2.26 million jobs
have so far been created under
the Economic Transformation
Programme. Meanwhile, a survey
by SME Corp in 3Q17 found 40%
of the small and medium enter-
prises interviewed are expecting
their businesses to improve in the
near term.
The organisation had planned
to issue 50 million of its own
cryptocurrency dubbed Copy-
Cash Coin, which piggybacks on
the Ethereum network — largely
known as the provider of cryp-
tocurrency token Ether, now the
second-largest cryptocurrency in
the world by market capitalisation.
The SC, in its statement, also
advises investors to stay cautious
of fraud risks in ICO schemes and
exercise due diligence before par-
ticipating in such schemes.
“While the SC continues to fa-
cilitate cases of digital assets in the
capital market, it remains vigilant
in monitoring ICO schemes given
the heightened risks, and will not
hesitate to take action where nec-
essary,” it added.
HOME BUSINESS 5
‘Auto sector to post
higher sales in 2018’
BY ADE LA M EG A N W IL LY
KUALA LUMPUR: Frost & Sullivan
expects vehicle sales in Malaysia to
reach 601,000 units in 2018, up 2%
from its 2017 overall target of 589,209
units, as consumer confidence im-
proves in tandem with the nation’s
economic growth.
Vivek Vaidya, the business con-
sultancy’s senior vice-president of
mobility practice for Asia-Pacific,
said a strengthening ringgit is likely
to reduce import costs of automo-
tive parts and completely built-up
models, leading to a price stabilisa-
tion this year.
“The launch of the all-new Per-
odua Myvi in [the second half of
2017 or 2H17] and other key mod-
els including the new Toyota CHR
[to be launched this year] will also
drive sales in 2018,” Vaidya told a
media briefing on the outlook for
the auto sector.
However, he noted Bank Nega-
ra Malaysia’s continuous efforts in
improving the quality of loans may
make it difficult for low-income fam-
ilies, young buyers, as well as small
and medium enterprises to secure
loans, thus affecting this year’s total
industry volume.
“Other factors such as the Na-
tional Automotive Policy (NAP),
improvements in public transpor-
tation infrastructure and the growth
of ride-sharing services will impact
the auto market in Malaysia,” he said.
While these factors will have a
long-term effect on the market, they
are unlikely to have any significant
impact in 2018, he said.
“While persistent high household
debt [will have the highest impact
on the market] and will continue
to encourage cautious spending,
expected wage growth is likely to
provide the requisite counterweight.
“In all, we expect 2018 to be
a positive year, registering good
growth. The automotive market has
bottomed out [looking at the 1.6%
Uzma gets three umbrella contracts
from Petronas Carigali
BY BI LLY TO H
KUALA LUMPUR: Uzma Bhd has
been awarded three umbrella con-
tracts by Petronas Carigali Sdn
Bhd (PCSB), the upstream arm of
Petroliam Nasional Bhd, to provide
electrical submersible pump (ESP)
and services to the latter, accord-
ing to a filing with Bursa Malaysia.
Uzma said in its filing yesterday
the contracts cover the supply of
both jointed and coiled tubing ESP
and their respective deployments,
as well as the surveillance, moni-
toring and maintenance of the ESP.
Each of the umbrella contract’s
tenure is for three years — from
Nov 20 last year to Nov 19, 2020
— with a first extension option
of one year.
Total vehicles sold
800,000
600,000
400,000
600,123
627,753
655,793
666,465
666,674
580,124
200,000
0
2011 2012 2013 2014 2015 2016
Source: MAA
projected growth in 2017’s total in-
dustry volume from 580,124 units
in 2016] and will continue to grow.”
On the revised NAP’s effective-
ness in enhancing the domestic
automotive industry, Vaidya said
Frost & Sullivan expects the policy
to boost the market’s growth further.
“We are watching it very closely,
although we do not know exactly
what will be announced. However,
we expect the NAP to provide a boost
to the auto market, with sales growth
in the later half of 2018 and 2019.”
The revised NAP will be launched
in 1H18, Malaysia Automotive In-
stitute chief executive officer Datuk
Madani Sahari was reported as say-
ing last month.
Vaidya said the times are expect-
ed to be rosy for national manufac-
turer Proton Holdings Bhd as its
partnership with China’s Zhejiang
Geely Holding Group Co Ltd paves
the way for launches of more mod-
els, improved after-sales service and
access to better technology.
“We expect many new models to
be launched under Proton’s brand-
ing, essentially Geely models. So,
Proton’s access to a large number of
models will go on — that’s for sure.
“Secondly, we have started seeing
the revamping of Proton’s network of
dealers, with upgrading of facilities
undertaken by many dealerships.
Thirdly, due to Geely’s intervention,
we’ll have greater access to better
technology.”
Uzma said the umbrella con-
tracts’ execution depends on work
orders to be issued to Uzma Engi-
neering Sdn Bhd, a wholly-owned
subsidiary of Uzma, from time to
time and at PCSB’s discretion.
“As such, there is no form val-
ue for the umbrella contracts. The
company will make the required
announcement pursuant to the
Bursa Malaysia Securities Bhd’s
Main Market listing requirements,
as and when a material sum of
work order is received under the
umbrella contracts,” it added.
At market close, Uzma’s share
price settled 2.7% lower at RM1.45,
after 1.85 million shares were trad-
ed, with a market capitalisation of
RM464.04 million. The stock has
climbed 13.3% so far this year.
6 HOME BUSINESS
Palm oil export
revenue poised to
hit RM80b in 2018
It suggests an improvement from RM75b in 2017
BY TAN XU E Y I N G
KUALA LUMPUR: Malaysia’s palm
oil export earnings are poised to
hit RM80 billion this year, accord-
ing to the plantation industries
and commodities ministry.
This would suggest an im-
provement from the RM75 billion
worth of exports of palm oil and
palm products estimated for 2017,
which would account for nearly
7% of Malaysia’s total exports.
Production, meanwhile, is ex-
pected to inch up to 20 million
tonnes in 2018, from at least 19.5
million tonnes estimated for last
year.
As at November 2017, total
exports of palm oil and palm
products stood at 22.4 million
tonnes, valued at RM71.5 billion,
translating into a 1.3% increase in
volume and a 16.2% rise in terms
of value year-on-year (y-o-y).
“We hope that by waiving the
export duty for palm oil, we can
reduce the stock level and increase
exports of palm oil,” said Plantation
Industries and Commodities Min-
ister Datuk Seri Mah Siew Keong on
the sidelines of the annual Reach
& Remind Friends of the Industry
seminar held by the Malaysian Palm
Oil Council (MPOC) here yesterday.
Malaysia has suspended export
taxes on crude palm oil (CPO) for
a three-month period starting
from Jan 8 to boost prices and
reduce high stockpiles current-
Tey Por Yee’s defamation suit resolved with apology
BY C H E ST ER TAY
KUALA LUMPUR: A former exec-
utive director of Ire-Tex Corp Bhd,
who suggested that the compa-
ny’s former substantial shareholder
Datuk Larry Tey Por Yee (pic) had
threatened two independent direc-
tors into resigning from the board,
has apologised for his remarks.
Tey filed a defamation lawsuit
against Felix Chin Wui Choong last
year following remarks Chin made
in an email to update the compa-
ny’s heads of department on the
outcome of a board meeting held
on March 13, 2017. Chin was still
an executive director of the com-
pany then.
In the email sighted by The Edge
Financial Daily yesterday, Chin
wrote that the board meeting had
“ended quite unfortunate with the
resignation of two independent
Malaysia’s CPO export value vs average price
2,800
2,700
2,600
2,500
2,400
2,300
2,200
2014 2015
Source: Bloomberg, MPOC *estimate for export value
ly measured at 2.6 million tonnes.
Mah also said the MPOC is work-
ing closely with smallholders in the
industry to increase production, by
assisting them via technology shar-
ing and the provision of replanting
grants and better quality seedlings.
However, analysts think the gov-
ernment is overly “ambitious” in its
target to reduce stockpiles by over
one million tonnes in a mere three
months via the export duty freeze.
“We are not very optimistic that
the removal of the export tax will help
jump CPO prices,” Dr Sathia Varqa,
owner and co-founder of independ-
ent online palm oil news provider,
Palm Oil Analytics, told The Edge Fi-
nancial Daily when met at the event.
While an estimated double-digit
export — due to the seasonal fac-
tors of the Lunar New Year and
Ramadhan — may keep palm oil
prices firm at about RM2,800 in
PHOTO BY SHAHRIN YAHYA
directors whose well-being were
threatened”.
Chin also alleged that he was the
last executive director on Ire-Tex’s
board threatened by Tey to quit.
“I have requested from the board
to provide me with security protec-
tion for the time being to investigate
Export Value (RM bil)
90
Average CPO price (RM per metric tonne)
80
70
60
50
40
30
20
10
0 export volume to major import-
2016 2017* 2018**
**forecast for export value
the first half of this year, Varqa ex-
pects it to turn bearish, averaging at
RM2,500 per tonne, in the second
half of the year. At the time of writ-
ing yesterday, palm oil was trading
at RM2,597 per tonne.
Its senior analyst Sam Yen also
warned of a surplus that comes
with the recovery of production this
year, due to the weak La Nina effect.
“They will have to find new mar-
kets to absorb the forecast 3% y-o-y
production growth. European de-
mand will fundamentally change,
whether we like it to, or not,” ex-
plained Yen.
Yen said Malaysia should be more
proactive in seeking new outlets to
help reduce inventories, be it market-
ing to developing countries such as
Pakistan, or other market segments
such as biodiesel, or oleochemicals.
Meanwhile, commenting on the
European Union (EU) parliament’s
this matter with [a] police report
[lodged] and [have] engaged [a]
solicitor to claim back RM16 mil-
lion for the company,” he wrote.
Chin added in the email that
the RM16 million was part of the
RM35.25 million raised through
an irredeemable convertible unse-
cured loan stock (ICULS) exercise
back in mid-June 2014.
While the entire proceeds from
the ICULS were meant for working
capital, Chin said RM16 million
was paid out in advance to a RM2
company called Future Rank Sdn
Bhd, citing purchasing machinery
as a reason.
“To date, the machines from
Sanjung AMS Sdn Bhd remain
non-operative and lying idle in
the Kulim factory. As purportedly
informed by Eric Tan from Sanjung
that the machines probably [are]
worth about RM2 million, which
WEDN ESDAY JAN UARY 1 0 , 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY
FGV expects 30% to 50% rise in
exports with export tax suspension
BY E MIR Z A IN UL
KUALA LUMPUR: Felda Global
Ventures Holdings Bhd (FGV),
the world’s largest producer of
crude palm oil (CPO), is antici-
pating a 30% to 50% rise in export
volume, following the Malaysian
government’s decision to sus-
pend CPO export tax for the first
three months of this year.
The tax suspension, the group
said in a statement yesterday, is
expected to benefit plantation
companies with significant up-
stream operations and strength-
en commodity prices for the first
quarter of this year.
FGV group president and chief
executive officer Datuk Zakaria Ar-
shad said the move is timely and
will be effective in reducing CPO
stock levels that coincide with in-
creasing demand from China for
the upcoming Chinese New Year.
“With this development, we ex-
pect a 30% to 50% increase in the
ing countries like India, Pakistan,
China and Europe. This shall also
enable us to increase supply to our
joint-venture refinery in Pakistan at
a more competitive pricing,” he said.
He said industry players have
been facing issues of high CPO
stock levels and the strength-
ening of the ringgit, which have
pressured CPO prices to hover
around RM2,500 per tonne.
With the export tax suspension
in place, FGV expects average CPO
resolution on palm oil and de-
forestation, Mah said Malaysia
can retaliate if the EU decides to
ban palm oil from its biofuel mix.
Within the next two weeks, the
EU council will vote on whether to
exclude palm oil from its biofuel
mix and renewable energy sources.
“If our product is discriminated
[in the end], we can also institute
the same thing, but we hope it
wouldn’t come to that. The min-
is a far cry from RM16 million,”
he added.
At the Kuala Lumpur Sessions
Court yesterday, Judge Rosziana-
vati Ahmad did not allow unre-
lated parties to attend the court
session considering both plaintiff
(Tey) and defendant (Chin) had
agreed to neither distribute nor
publish the apology in relation to
the settlement.
Tey and Chin were seen shaking
hands following yesterday’s court
hearing and both left the area im-
mediately.
Later in a separate meeting, Tey
told The Edge Financial Daily that
Chin’s apology proved his innocence.
“I think the court is fair and just,
and I think my reputation has been
restored by fairness. I am a credi-
ble businessman and I prove to all
today (yesterday) that I am inno-
cent,” Tey said.
prices for the first quarter of 2018
to improve slightly by trading
around RM2,650 per tonne to
RM2,750 per tonne.
Last Friday, Reuters, quoting
Plantation Industries and Com-
modities Minister Datuk Seri Mah
Siew Keong, reported Malaysia
would suspend export taxes on
CPO for a three-month period
from Monday, to boost palm oil
prices and reduce high stockpiles.
The last time Malaysia sus-
pended CPO export taxes was
from September to October
in 2014.
However, the export tax sus-
pension will be lifted before the
three-month period, if CPO
stocks fall to 1.6 million tonnes,
Mah said.
The government had earlier
set the CPO export tax at 5.5%
for this month.
Meanwhile, in commenting
the overall 2017 performance,
Zakaria said FGV’s core busi-
ness operations had performed
well, with positive growth in
fresh fruit bunch (FFB) pro-
duction, compared with 2016.
“As for 2018, we remain
committed in delivering the
Strategic Plan 2020 through
better core business perfor-
mance, [a] stronger financial
position, enhanced govern-
ance in all sectors and high
performance culture that will
deliver sustainable value to our
shareholders,” Zakaria added.
istry of international trade and
industry (Miti) is negotiating the
free trade agreement with Europe,
and palm oil will remain at the top
of the agenda,” Mah added.
“The [EU] ban is not realistic. I
am optimistic the shipments will go,
or they (the EU) may not meet their
needs,” said Varqa, adding that: “Ma-
laysia would only need to be worried
if the high anti-dumping duties on
Indonesian biodiesel are removed.”
Mitrajaya bags
RM103m project
BY A DA M A Z IZ
KUALA LUMPUR: Mitrajaya Hold-
ings Bhd has been appointed as
the main building works contrac-
tor for a public housing project in
Precint 17, Putrajaya.
The RM103.06 million contract
was awarded to the construction
firm’s wholly-owned unit, Pembi-
naan Mitrajaya Sdn Bhd, by Pu-
trajaya Homes Sdn Bhd.
The project, under the 1Malaysia
Civil Servants Housing Programme,
comprises 404 apartment units, a
block of multilevel parking, a surau,
and common facilities.
“The contract will commence
on Jan 15, 2018 for a duration of 36
months and it is expected to be com-
pleted by Jan 14, 2021,” said Mitrajaya
in a stock exchange filing yesterday.
WED N ES DAY JA N UA RY 1 0 , 20 1 8 • T HEED G E FINA NCIA L DA ILY
Ekuinas sells APIIT Group for
enterprise value of RM725m
The buyers are JV vehicles owned by the existing key management team and KV Asia Capital
BY A DA M A ZI Z
KUALA LUMPUR: Ekuiti Na-
sional Bhd (Ekuinas), a govern-
ment-linked private equity fund,
has disposed of its entire stake in
APIIT Education Group (APIIT
Group) for an enterprise value
of RM725 million.
In a statement yesterday, Ekui-
nas said the new owners of APIIT
Group are joint-venture (JV) ve-
hicles owned by the existing key
management team of APIIT Group
and KV Asia Capital — a private
equity firm that invests in midsized
companies in Southeast Asia.
Ekuinas chief executive officer
Syed Yasir Arafat Syed Abd Kadir
said the divestment will allow Ekui-
nas to recoup its cost of investment
and generate a net internal rate of
return of 22.3% and money multi-
ple of 1.6 times the capital invest-
ed, including dividends received.
It also believes it has found
the right home for APIIT Group
AirAsia shares ascend to all-time high
BY A H M AD NAQ I B I D RI S
KUALA LUMPUR: AirAsia Bhd’s
share price ascended to an all-
time high of RM3.74 yesterday
after the low-cost carrier obtained
the green light for an internal re-
organisation that would enable it
to unlock the value of each oper-
ating unit in the region.
The stock gained 15 sen or
4.18% yesterday with 26.36 mil-
lion shares traded.
According to Bloomberg data,
18 research houses have “buy”
calls on AirAsia, four “holds”
and two “sells”, with an average
12-month consensus target price
of RM3.74.
While the airline’s share price
is on a steady climb, analysts do
not expect the reorganisation to
have any immediate significant
impact on the group.
“The transfer of the listing
status of AirAsia Bhd to AirAsia
Group Bhd (AAGB) does not have
an impact on the group. Howev-
er, the group’s structure would be
more simplified, making it eas-
ier to list its subsidiaries,” said
Hong Leong Investment Bank
Bhd (HLIB) analyst Daniel Wong.
Despite the sharp rise in share
price, AAGB founder and group
chief executive officer Tan Sri
Tony Fernandes expressed his
grouses at a press conference on
Monday that AirAsia has not been
fairly valued by analysts as no
value is ascribed for the group’s
operations in Thailand, Indonesia
and the Philippines, which is why
to steer its institutions towards
continued success.
“KV Asia Capital, with its team
of reputable and experienced man-
agers, have managed, led, and de-
veloped businesses across Asia.
This will introduce new skills and
experience to the group to comple-
ment the expertise of the existing
key management team, ensuring
a smooth transition and business
continuity for the group with min-
imal disruption to the students’
learning,” he added.
“We are divesting our stake to
the new owners which include the
existing key management team of
APIIT Group that has a combined
experience of more than 100 years
in the industry. With that, it will en-
sure the interest to continue provid-
ing quality education is constantly
aligned,” Ekuinas chairman Raja
Tan Sri Arshad Raja Tun Uda said.
APIIT Group comprises the Asia
Pacific Schools (APS), Asia Pacific
University of Technology & Inno-
AirAsia Bhd
RM
4.0
RM3.74
3.5
3.0
2.5
2.0
Dec 15, 2016 Jan 9, 2018
the group is now ascribing value
to each of its associates through
the reorganisation.
However, analysts noted it is
not easy for them to value the
associates due to the lack of in-
formation.
Wong said the reorganisation
could give better valuation for
the group, if the earnings per-
formance of each subsidiary is
properly segregated.
“If everything is jumbled up
under the holding company, we
cannot separate the loss-making
units from the profitable ones,
which will give AirAsia a lower
valuation. But if the information
on the loss-making and profitable
entities are properly segregated,
it could give a better valuation as
we can assume zero valuation for
the loss-making units,” he said.
Public Investment Bank Bhd
vation (APU) and Asia Pacific In-
stitute of Information Technology
(APIIT).
Ekuinas ventured into the ed-
ucation sector through its invest-
ment in APIIT Group in February
2011, when it bought a 51% stake
for RM102 million from Sapura Re-
sources Bhd. In March 2016, the
private equity fund acquired the
remaining 49% in APIIT Group from
Sapura Resources for RM246.98
million cash. This brings its total ac-
quisition cost to RM348.98 million.
Ekuinas said throughout the in-
vestment period, it had increased
the total number of students at the
three institutions from 7,700 in 2010
to over 10,000 in 2016. Last year, APU
launched its state-of-the-art campus
at the Technology Park Malaysia.
A check with the Companies
Commission of Malaysia by The
Edge Financial Daily showed
that all three institutions were
profitable in financial years end-
ed Dec 31, 2015 and 2016 (FY15
analyst Nur Farah Syifaa Fuad
said the research house’s val-
uations did not include the as-
sociates’ operations because of
the lack of information.
“It’s quite difficult for us to
value the other operations. We
know the growth trend and fac-
tors for Malaysia but for the
Philippines and Indonesia, it
is difficult to forecast. We need
to get more information from
the management before we can
fully adjust the numbers,” she
said.
Wong expects AirAsia to re-
main on its growth trajectory
based on the group’s capac-
ity expansion and high load
factors.
“Demand is still sustaina-
ble. Yields may be down, but
it’s nothing to worry about as
the ancillary income should
be strong enough to sustain
growth,” he said.
He added that the impact
of higher jet fuel price due to
the recovery in crude oil prices
will be offset by a strengthening
ringgit and improving opera-
tional efficiency.
Under the group’s reorgani-
sation, AAGB will be taking over
the listing status of AirAsia and
housing all the group’s subsidi-
aries across the region through
a one-for-one share swap deal.
AAGB will assume the listing
status of AirAsia as an invest-
ment holding entity by March
this year, while the latter will
focus on its airline operations.
HOME BUSINESS 7
and FY16 respectively).
In FY16, APS’ net profit climbed
33.27% to RM10.04 million from
FY15, while revenue grew 17.64%
to RM34.89 million. APU saw its
net profits rise 12.39% year-on-year
(y-o-y) to RM27.39 million on the
back of a 7.08% increase in revenue
to RM99.64 million.
APIIT booked a net profit of
RM147.17 million in FY16, up
20.4% from FY15, while revenue
was lower at RM33.29 million.
However, after discarding a net
dividend payment of RM138.8 mil-
lion, APIIT’s net profit was 0.96%
lower y-o-y at RM8.37 million. It is
unclear where the monies for the
dividend payout were derived from.
In August last year, The Edge Ma-
laysia weekly reported that Ekuinas
was seeking a buyer for the insti-
tutions under its investment unit
ILMU Education Group Sdn Bhd.
It was reportedly planning to shut
down ILMU by the end of 2017, af-
ter the sale of its education assets.
(From left) M&A Securities Sdn Bhd managing director (MD) Datuk Bill Tan, TSSB MD
Lim Choon Teik, Prestar group MD Datuk Toh Yew Peng, Prestar group executive director
Toh Yew Seng, and M&A Securities head of corporate finance Gary Ting at a share sale
agreement signing ceremony yesterday.
Prestar to list unit on ACE Market
by 4Q via Tashin Holdings
BY NE I LY SYA F IQA H E US O F F
KUALA LUMPUR: Steelmaker Pre-
star Resources Bhd, planning to list
its 51%-owned manufacturing and
trading subsidiary Tashin Steel Sdn
Bhd (TSSB) on the ACE Market, will
do so via a special purpose vehicle,
Tashin Holdings Bhd, by the fourth
quarter (4Q) of this year.
TSSB is principally involved in
processing steel coils into slit coils
and steel sheets, as well as man-
ufacturing steel products such as
expanded metal products, flat and
square bars, steel pipes, steel and
checkered plates, and C Purlins.
As part of the proposed listing,
Prestar and Formula Naga Sdn Bhd
— which owns the remaining 49%
stake in TSSB — will transfer their
stakes in TSSB to Tashin Holdings
via a share sale agreement inked
yesterday, for RM144.07 million,
Prestar said in a statement.
The share sale will be satisfied
by Tashin Holdings issuing 288.14
This follows the company’s de-
cision to shelve plans to list ILMU
after finding that the sum-of-parts
valuation of the group was greater
than its entire value.
According to Ekuinas’ 2016 an-
nual report, ILMU’s revenue for
FY16 grew 3.7% y-o-y to RM421.3
million, while earnings before
interest, taxes, depreciation and
amortisation rose 4.2% y-o-y to
RM110.9 million. Total student
count, however, declined 6.4% y-o-y
to 32,506, partly attributed to the
closing down of the Kuala Lumpur
Metropolitan University (KLMU).
With APIIT Group’s divestment,
ILMU is now left with four edu-
cation brands, including Unitar
International University, Cos-
mopoint College, Kuala Lumpur
Metropolitan University College
— also parked under Cosmo-
point — and Tenby Educare Sdn
Bhd, which in total cost Ekuinas
RM229.8 million to acquire, in-
clusive of the now-defunct KLMU.
million new shares at an issue price
of 50 sen per share to Prestar and
Formula Naga. This will result in
Prestar holding a 51% stake in Tash-
in Holdings, and Formula Naga the
remaining 49%.
Subsequently, Tashin Holdings
will go for an initial public offering
(IPO) that will involve the issuance of
59.02 million new shares, equivalent
to 17% of its enlarged share capital, at
an issue price to be determined later.
Of the 59.02 million shares, 17.36
million new shares will be made
available to the public, 8.68 million
shares to eligible directors, employ-
ees and business associates, 17.36
million shares to entitled Prestar
shareholders, while the remaining
15.62 million shares will be reserved
for private placement to selected
bumiputera investors.
The IPO will also include an of-
fer for sale by Prestar and Formula
Naga of 55.2 million Tashin Hold-
ings shares, or 15.9% of Tashin’s
enlarged share capital.
8 ST O C KS W I T H M O M E N T U M
DRB-HICOM BHD (-ve)
SHARES in DRB-Hicom Bhd (fundamental:
0.85/3, valuation: 1.2/3) triggered our mo-
mentum algorithm yesterday for the third
time this month.
The counter closed nine sen or 3.69%
higher at RM2.53 yesterday with a market
capitalisation of RM4.95 billion, with 37.16
million shares traded, higher than its 200-
day average volume of 6.83 million shares.
DRB-HICOM BHD
P A RESOURCES BHD (+ve)
SHARES in P A Resources Bhd (fundamental:
0/3, valuation: 0/3), which triggered our pro-
prietary algorithm yesterday for the third time
this month, closed unchanged at 10.5 sen, with
a market capitalisation of RM94.65 million.
But trading volume surged to 123.78 mil-
lion shares, versus its 200-day average trading
volume of 5.33 million shares, making it the
ninth most active counter yesterday.
P A Resources mainly produces aluminium
billets, extrusion profiles, and provides down-
stream aluminium product-related services.
On Dec 22, the company’s new rights shares
P A RESOURCES BHD
UMW OIL & GAS CORP BHD (-ve)
SHARES in UMW Oil & Gas Corp Bhd (UM-
WOG) (fundamental: 0.2/3, valuation: 0.3/3)
also triggered our momentum algorithm
yesterday for the third time this month.
UMWOG slid three sen or 6.59% to 42.5
sen, after 425.88 million shares were traded
versus the counter’s 200-day average volume
of 23.17 million shares, making it the most
active counter yesterday. The group’s mar-
ket capitalisation stood at RM3.57 billion.
The company is mainly involved in up-
stream activities of the oil and gas industry by
providing drilling services and oilfield services.
UMW OIL & GAS CORP BHD
WEDN ESDAY JAN UARY 1 0 , 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY
Stocks with momentum were picked up using a proprietary algorithm by Asia Analytica Data Sdn Bhd and first appeared at www.theedgemarkets.com.
Please exercise your own judgement or seek professional advice for your specific investment needs. We are not responsible for your investment decisions.
www.theedgemarkets.com
Our shareholders, directors and employees may have positions in any of the stocks mentioned.
HOME BUSINESS
Last week on Jan 2, shares in DRB-Hicom
reached its highest since October 2014,
jumping 43 sen during the day to close at
RM2.26, as investors were reportedly opti-
mistic about the prospects of its subsidiary
Proton Holdings Bhd, following the latter’s
R&A files police report
strategic partnership with Chinese partner
Zhejiang Geely Holding Group Co Ltd. Since
then, the share price has continued to climb.
against ex-MD
Valuation score* 1.20 BY ADAM AZ I Z their investigation and to investigate
Fundamental score** 0.85 the reason for the withdrawal by Tan.
TTM P/E (x) 7.98 KUALA LUMPUR: R&A Telecommuni- Further development on the matter will
TTM PEG (x) - cation Group Bhd and its wholly-owned be announced to Bursa in due course,”
P/NAV (x) 0.69
subsidiary R&A Telecommunication said R&A.
Sdn Bhd (RASB) have lodged a police On April 13, 2017, R&A announced
TTM Dividend yield (%) 0.41
report against its former managing di- that it had filed a police report against
Market capitalisation (mil) 4,717.10 rector (MD) Francis Tan Hock Leong its bank-authorised signatories based
Shares outstanding (ex-treasury) mil 1,933.24 for attempting to withdraw a previous on two cases.
Beta 0.98 police report lodged by the company In the first case, two of its signatories
12-month price range 1.12-2.44 relating to unauthorised transactions had allegedly paid RM4.2 million from
*Valuation score - Composite measure of historical return & valuation
worth RM4.2 million. the company to RASB on April 1, 2014
**Fundamental score - Composite measure of balance sheet strength In a filing with Bursa Malaysia yes- without the board’s authorisation.
& profitability terday, the Practice Note 17 company In the second incident, one of RASB’s
Note: A score of 3.0 is the best to have and 0.0 is the worst to have said it and RASB had on Dec 29, 2017 signatories allegedly paid RM4.2 million
lodged the police report against Tan for from the company to Info Genetic Sdn
the attempt. Bhd, a firm which R&A said had no busi-
It added that neither the company nor
RASB had given approval or passed any
ness relations with it or RASB.
Trading in R&A shares has been halted
and free warrants started trading, with 757.23 resolution to authorise the withdrawal since Sept 14, 2016 after it failed to submit
million new shares and an equal number of of the earlier police report lodged on its regularisation plan to Bursa Securities.
free warrants. April 5, 2017. On Jan 4, the company requested for an
In its first financial quarter ended Sept 30, “The company and RASB have re- extension of time up to July 3 to submit
2017, the group’s net loss expanded to RM3.3 quested that the police continue with a new regularisation plan.
million from RM1.8 million a year ago, de-
spite revenue rising to RM28.9 million from
RM23.8 million.
This was because of higher losses at its ex-
trusion and fabrication and construction seg-
Malaysia Airlines resuming flights
ments, with the former experiencing higher to Brisbane after three-year hiatus
material costs and overheads, while the latter
saw claims rejection by a customer. BY E M I R Z AI NU L services to the Queensland capital in
August 2015, as part of its network ra-
Valuation score* 0.00 KUALA LUMPUR: Malaysia Airlines Bhd tionalisation exercise under the 12-point
Fundamental score** 0.00 will reinstate direct flights between Kuala MAS Recovery Plan announced in 2014.
TTM P/E (x) - Lumpur and Brisbane on June 6 after a Brisbane Airport Corp spokeswoman
TTM PEG (x) - three-year hiatus. Leonie Vandeven was then reported as
P/NAV (x) 2.48
In a statement yesterday, the national saying that it had no warning the flights
carrier said it will operate four times per were set to end. “We were disappointed,
TTM Dividend yield (%) -
week to Brisbane using an Airbus A330- and must confess surprised, to read the
Market capitalisation (mil) 178.89 300 with up to 290 seats. The airline will news that our partnership with Malaysia
Shares outstanding (ex-treasury) mil 1,703.76 be operating every Monday, Wednesday, Airlines spanning some 25 years has ended
Beta 1.02 Thursday and Saturday. so suddenly,” she said in The Sydney Morn-
12-month price range 0.04-0.11 “Malaysia Airlines needs to be agile ing Herald published on June 25, 2015.
*Valuation score - Composite measure of historical return & valuation
in order to respond quickly to market According to Izham, Malaysia Airlines
**Fundamental score - Composite measure of balance sheet strength demands and we are very excited to be has had a long presence in Queensland
& profitability reinstating Brisbane back to our network. since the commencement of its opera-
Note: A score of 3.0 is the best to have and 0.0 is the worst to have Brisbane is strategically placed, in close tions in Brisbane on Oct 31, 1990.
proximity to many of Queensland’s tour- Reports in Australian media yesterday
ist destinations, which will facilitate our said Malaysia Airlines’ return to Brisbane
growth plans focusing on key business
and leisure cities,” said Malaysia Airlines
is a coup for Queensland tourism, as the
four flights a week are expected to gener-
In the third quarter ended Sept 30 of fi- chief executive officer Izham Ismail in ate A$98 million (RM307.72 million) for
nancial year 2017 (3QFY17), UMWOG re- the statement. the Queensland tourism industry over
turned to the black after languishing in the Malaysia Airlines dropped its daily the next three years.
red for seven consecutive quarters.
Net profit came in at RM3.4 million in
3QFY17, compared with a net loss of RM135.4
million in the corresponding quarter a year
ago, as revenue jumped over three times to
Maybank’s Etiqa split into four
RM180.5 million from RM49.7 million. separate companies
This narrowed its nine-month FY17 net
loss to RM151.7 million from RM267.8 mil- BY SYAHIRAH SYED JAAFAR Daud for Etiqa General Takaful Bhd, Zafri
lion a year ago, as revenue grew 47.6% to Ab Halim for Etiqa Family Takaful Bhd and
RM394.7 million from RM267.3 million. KUALA LUMPUR: Etiqa, the insurance Kamaludin Ahmad for Etiqa Life Insurance
and takaful arm of Malayan Banking Bhd Bhd, with Kamaludin in an interim capacity.
Valuation score* 0.30 (Maybank), has split the company into four “We are now four organisations but
Fundamental score** 0.20 separate entities to place greater focus on still the same Etiqa, with the aim to serve
TTM P/E (x) - the respective businesses. you better as you prepare for memorable
TTM PEG (x) - In a statement yesterday, Etiqa said the milestones or unfortunate events in your
move was also to minimise risks and ensure life,” said Kamaludin, who is the CEO of
P/NAV (x) 1.60
continuous stability and to drive its vision Maybank Ageas Holdings Bhd — the par-
TTM Dividend yield (%) - to have the most efficient shareholder, cap- ent of the four new entities.
Market capitalisation (mil) 3,184.42 ital and organisational structure. Etiqa is a multi-channel distributor
Shares outstanding (ex-treasury) mil 6,998.73 “To deliver these efficiencies and to of insurance and Takaful products via its
Beta 1.79 steer Etiqa to greater heights, we have ap- 10,000-agency force, 24 branches, more
12-month price range 0.27-0.90 pointed four new chief executive officers than 350 Maybank branches, ATMs and
*Valuation score - Composite measure of historical return & valuation
for each of the four new entities,” it added. other third-party banks. Regionally, it has
**Fundamental score - Composite measure of balance sheet strength They are Fukhairudin Mohd Yusof for expanded to Singapore, the Philippines
& profitability Etiqa General Insurance Bhd, Zaharudin and Indonesia.
Note: A score of 3.0 is the best to have and 0.0 is the worst to have
1 0 P R O P E RT Y
Hong Kong’s curious disconnect
It lies between the city’s residential prices and certain stocks like Li Ka-shing’s CK Asset
BY N I SH A GOPA L A N
HONG KONG: Towering home pric-
es here might rise another 10% this
year. All the more reason to shun
developers and buy retail or even
office landlords.
That might not make sense at
first glance, but the real estate boom
hasn’t benefited developers in the
city much in the last seven years.
There’s been a disconnect, as JP-
Morgan Chase & Co analyst Cuss-
on Leung notes, between the city’s
residential prices — up 200% since
2009 — and stocks like Li Ka-shing’s
CK Asset Holdings Ltd and Hender-
son Land Development Co.
JPMorgan’s Leung said that
among reasons for this are investor
scepticism that current home prices
are sustainable, and the developers
themselves. These companies are
failing to monetise their assets; face a
lot of competition; and crucially, are
stingy about sharing their huge cash
chests as dividends and buy-backs.
There’s very little chance prices
in Hong Kong will crash, barring an
external shock on the order of the
1997-1998 Asian crisis or the 2008
global financial crunch, both of which
provoked collapses (see chart). With
savings rates at banks so low, and de-
Asia’s richest banker plans family office, spurns cryptocurrencies
BY A N TO A NTON Y
NEW DELHI: The family of Uday
Kotak, billionaire managing direc-
tor of Kotak Mahindra Bank Ltd, is
setting up an office to invest in as-
sets including private equity, stocks,
and real estate worldwide.
“The funds will be deployed in
asset classes other than debt and
cryptocurrencies,” Venkat Subra-
velopers happy to top up mortgage
borrowing, real estate is still seen
in Hong Kong as the safest store of
wealth. And as I’ve said before, it’s
going to take a lot more than four US
Federal Reserve rate hikes this year
to kill the market — even a full per-
centage-point increase is peanuts.
That’s assuming banks, flush with
deposits, pass on those rate hikes,
manian, who will be managing the
family office, said in an interview
in Mumbai last week. “We will also
stay clear of any investment oppor-
tunities that will bring us in direct
competition with the bank.”
While Subramanian didn’t dis-
close a figure, Kotak has about
US$1.2 billion (RM4.8 billion) in
cash and investable assets, accord-
ing to the Bloomberg Billionaires
which Hong Kong mirrors to keep its
currency’s peg to the US dollar intact.
On average, lenders’ loan-to-deposit
ratio is 65%, compared with 79% at
US financial institutions. The prime
lending rate, currently 5%, was last
raised in March 2006 and has been
falling from a peak of 8% in October
2006. Even if banks did raise prime
rates, Hong Kong property gains are
Index. Most of the money was raised
when he cut his stake in the bank
to meet regulatory requirements.
The Mumbai-based banker,
whose US$10.3 billion fortune
makes him the eighth-richest person
in India and the wealthiest banker in
Asia, held about 30% of Kotak Ma-
hindra Bank as of end-September,
which is worth US$9 billion based
on current prices.
WEDN ESDAY JAN UARY 1 0 , 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY
likely to slow rather than reverse. JLL,
a real estate consultancy, forecasts
residential capital values rising 10%
this year, down from a 15% pace in
2017, as more supply comes on the
market. JPMorgan’s Leung sees pric-
es increasing 10% to 15% this year.
While homebuilders lack inves-
tor love, there are property compa-
nies that are seeing gains. Shoppers
Subramanian, who is current-
ly chief executive officer of Infina
Finance Pvt Ltd, a US$470 million
long-short fund that has Kotak and
his bank as sole investors, is work-
ing with members of Kotak’s family
to put in place a team to manage
the office.
Investing in debt would bring
the family office into direct com-
petition with the bank, while pur-
from China are returning, and retail
is picking up in a city where e-com-
merce hasn’t taken off as it has in
the mainland. That’s good for mall
operators like Hysan Development
Co, which owns the Lee Gardens
complexes in Causeway Bay. Of-
fice rents may also keep rising, as
mainland firms continue to set up
shop in Central, the main business
district. Newly created business dis-
tricts like Quarry Bay at the eastern
end of Hong Kong Island benefit
the likes of Swire Properties Ltd.
That’s not to say residential de-
velopers are questionable invest-
ments. They’ve come back on top
compared with mainland Chinese
builders, whose briefly dominant
role in land purchases faded be-
cause of Beijing’s capital controls.
In addition, Sun Hung Kai Proper-
ties Ltd and Henderson Land are in
talks with the government to con-
vert idle farmland to residential use.
The fact remains, though, that
homebuilders aren’t fully benefit-
ting from the boom. And at some
point, real estate will take a hit.
While the developers have nar-
rowed the gap in recent months,
investors seem happier buying
bricks and mortars than proxies.
— Bloomberg
chases of bitcoin may prove to be
risky, Subramanian said.
“While the concept of cryptocur-
rency is alluring, as its value cannot
be influenced by any government,
the family office will not look at in-
vesting in it,” he said. Subramanian
also flagged possible regulatory
clampdowns and the addition of
new global cryptocurrencies as pos-
sible risks to value. — Bloomberg
WED N ES DAY JA N UA RY 1 0 , 20 1 8 • T HEED G E FINA NCIA L DA ILY
B R O K E R S’ C A L L 11

Destini expected to get new

New model launch MRO jobs from KTM in 2018
expected to improve Destini Bhd
(Jan 9, 65 sen)
Initiate buy with a target price
contributor is the construction
of New Generation Patrol Craft
and Offshore Patrol Vessels for

Tan Chong’s earnings

(TP) of 74 sen: Destini Bhd the Marine Maritime Enforce-
group managing director Da- ment Agency, to be delivered
tuk Rozabil @ Rozamujib Abdul by 2018 and 2020 respectively.
Rahman took over the financial- We expect Destini to bid for the
ly troubled Satang Holdings Bhd MRO of these vessels upon the
in September 2011, restructured completion of their construc-
the company and renamed it tion. We have not assumed any
Destini Bhd. He transformed potential earnings from the ves-
Tan Chong Motor Holdings Bhd Tan Chong Motor Holdings Bhd the group from a mere survival sel’s MRO.
(Jan 9, RM1.75) and safety maintenance, repair Destini is currently complet-
Upgrade to buy with a higher tar- FYE DEC (RM MIL) 2015 2016 2017F 2018F 2019F and overhaul (MRO) service ing a RM62 million KTM job to
get price (TP) of RM2.05: We raise Revenue 5,716.7 5,510.7 4,640.6 4,809.1 4,916.3 provider into a regional inte- supply 35 motor trolleys and two
Tan Chong Motor Holdings Bhd to Ebit 169.0 18.7 (61.8) 70.0 124.4 grated engineering solutions rail road vehicles by 2019. We
“buy” from “hold” and raise our TP provider with businesses in the think Destini could potentially
Pre-tax profit 115.3 (43.1) (111.6) 27.2 81.2
to RM2.05 from RM1.85 previously, marine shipbuilding, aviation, secure new MRO jobs from KTM
conservatively pegging Tan Chong at Core net profit 59.9 (58.8) (96.9) 20.5 60.5 land transport, and the oil and in 2018. Negotiations have been
a trough price-to-book value (PBV) of FD EPS (sen) 8.9 (8.8) (14.4) 3.1 9.0 gas industries. Destini, listed ongoing for the past year. We
0.5 times. Tan Chong’s earnings were EPS growth (%) (20.9) N/A N/A N/A 194.7 on the Main Board, is a syari- have not assumed any potential
previously hit by: i) a loss in market PER (x) 19.3 N/A N/A 56.3 19.1 ah-compliant stock. KTM MRO jobs.
share from a freeze in new launch- Net dividend (sen) 5.0 2.0 3.0 3.0 3.0 Management’s long-term The company is looking into
es; ii) a weak ringgit in the past two Net dividend yield (%) 2.9 1.2 1.7 1.7 1.7 strategy is to grow Destini’s MRO mergers and acquisitions (M&A)
years; and iii) heavy discounting to asset base as it aspires to be a to expand its commercial aircraft
Sources: Company, MIDF
clear off old inventories. However, regional engineering MRO ser- MRO business. Negotiations with
having seen its share price fall some vice provider. Currently, its main potential clients are ongoing but
40% in the past 24 months, we see val- back in 2012). Furthermore, with teriorated significantly in the past MRO business is providing safe- nothing has been finalised. In
ue emerging in the stock. Tan Chong Almera having been in the market year, primarily due to a freeze in new ty and survival equipment MRO 2017, the company set up a joint
now trades at just 0.4 times financial for over five years, the bulk of capital model launches since 2016, coupled services to the Royal Malaysian venture with Sapura Aero, a sub-
year 2018 (FY18) PBV amid a poten- expenditure would have been fully with aggressive launches by com- Air Force, but there is potential sidiary of Sapura Resources, to
tial turnaround in earnings over the depreciated now. petition to drive sales. This should to expand its MRO services to undertake commercial aircraft
next few years. This is premised on: The significance of Tan Chong’s reverse from 2018 as Tan Chong re- paramilitary ships and helicop- MRO in the region. As at Sep-
1) a much stronger ringgit now; 2) successful inventory pare-down is sumes new model introduction; ru- ters, and the Malaysian Railway tember 2017, Destini’s balance
successful inventory pare-down in that it: a) reduces the magnitude of moured models include Nissan Kicks (KTM) in our view. sheet showed only 0.1 times net
the past 12 months; and 3) resump- discounting given less need to do so; (compact sport utility vehicle priced Destini currently generates gearing. As such, it has room to
tion of new model launches this year b) reduces finance cost from lower well under US$19,000 [RM76,000] more than 80% of its revenue gear up if necessary to pursue
(not factored into projections yet). working capital requirement; and in the US), new Serena Hybrid and from the marine and aviation M&As to grow its MRO business.
Our FY18 is revised up to a core net c) increases Tan Chong’s exposure the new Leaf. Our recent meeting sectors. Its main marine revenue — CIMB Research, Jan 8
profit of RM21 million from a net to current foreign exchange (forex) with management suggests that Tan
loss of RM81 million previously, and levels (versus mostly RM4.20 per Chong’s 2018 launch will involve an
we introduce our FY19 earnings of US dollar exposure currently due entirely new model not currently in Destini Bhd
RM61 million. to old inventories). Tan Chong has Tan Chong’s Nissan line-up, and
Tan Chong has large exposure to been paring down these expensive management has been indicating FYE DEC (RM MIL) 2015A 2016A 2017F 2018F 2019F
US dollar imports (for completely inventories in the past two years, the market’s fast-changing prefer- Revenue 270.1 354.8 750.0 525.0 556.0
knock-down [CKD] kits), estimat- which will see it gradually increas- ence towards sports utility vehicles Operating Ebitda 39.25 61.17 58.99 70.71 82.29
ed to account for 18% to 20% of to- ing exposure to the current, much (SUVs). Tan Chong’s model line-up Net profit 21.17 33.04 32.60 40.75 48.60
tal cost. We forecast losses to nar- lower forex levels (of about RM4 per currently entails a large vacuum in
Core EPS (RM) 0.018 0.029 0.028 0.035 0.042
row and gradually hit break-even in US dollar), which is some 5% appre- the SUV segment, where the Hon-
FY18, followed by more meaningful ciation versus the RM4.20 per US da HRV and Mazda CX3 have been Core EPS growth (%) 29.5 56.1 (1.3) 25.0 19.3
earnings thereafter on the back of a dollar level. Inventory levels (com- thriving. While the 2018 launch may FD core PER (x) 34.10 21.85 22.15 17.72 14.86
stronger ringgit now. Resumption of prising mainly Almera, X-Trail and not necessarily return Tan Chong to EV/Ebitda (x) 19.18 12.77 14.28 11.29 9.38
new model introduction from 2018 Navara) have reduced by 30% as of 2014 to 2017 market share of 7% to P/FCFE (x) N/A N/A N/A 9.60 12.33
will drive a recovery in volumes and the third quarter of FY17 (3QFY17) 8%, it will almost definitely drive an Net gearing (%) 8.8 12.6 23.6 13.5 7.7
lower kit cost in US dollar terms as (RM1.3 billion) against the peak of improvement in earnings from an P/BV (x) 2.06 1.50 1.40 1.30 1.20
costing will be benchmarked against about RM2 billion in 1QFY16. Man- exceptionally depressed base (given
ROE (%) 7.07 7.94 6.55 7.63 8.39
current foreign exchange levels (rel- agement targets to reduce this to less costing at latest forex levels) and off
ative to the RM3.10 per US dollar than RM1 billion in 4QFY17. a low-base market share of just 4.8% CIMB/consensus EPS (x) 0.97 0.95 0.96
level when Almera was introduced Tan Chong’s market share de- in FY17. — MIDF Research, Jan 9 Sources: Company data, CIMB forecasts

MQREIT’s QB8 disposal seen to fund AE1s

MRCB-Quill REIT “neutral” on impact from the dis- MRCB-Quill REIT
(Jan 9, RM1.20) posal as the effect on earnings in
Maintain outp erform with QB8 is a single-storey FY18 is negligible. The net gain on FY DEC (RM MIL) 2016A 2017E 2018E
an unchanged target price of detached warehouse disposal of RM1.28 million offset Turnover 131.8 182.9 191.3
RM1.38: MRCB-Quill REIT (MQ- the loss in income from QB8 in Ebit
REIT) has entered into a sale and
with a three-storey FY18, as QB8 only makes up less PBT
100.9 125.5 131.8
62.8 92.0 95.5
purchase agreement to dispose of office building than 2% of realised net income Net profit 62.8 92.0 95.5
its industrial asset, Quill Building located in Shah Alam. on an annualised basis.
8 (QB8) — DHL XPJ to Transmark FY17 to FY18 leases up for ex- Core NP* 59.2 92.0 94.2
Corp Sdn Bhd for a cash consid- piry are minimal at 14% to 26% Consensus (CNP) n.a 89.3 93.0
eration of RM28 million, which of net lettable assets, which are Earnings revision (%) n.a n.a -1
is at a slight premium to its book preferable under current times, Core EPS (sen) 8.8 8.6 8.7
value of RM25 million, while the We were surprised as we did where the office market is facing Core EPS growth (%) 7 -2 1
group expects a net gain on dis- not expect any disposals in the an oversupply situation, given NDPS (sen) 7.5 7.6 7.6
posal of RM1.28 million. QB8 is near term due to MQREIT’s stable the risk of tenant attrition. As BVPS (RM) 1.37 1.28 1.28
a single-storey detached ware- portfolio. We believe the rationale such, we are expecting low sin-
house with a three-storey office is to unlock value to fund ongo- gle-digit reversions. Additionally, Core PER 13.8 14.1 13.9
building located in Shah Alam. ing asset enhancement initiatives we expect capital expenditure in Price/BV (x) 0.9 0.9 0.9
The disposal is expected to be (AEIs) and lighten our balance FY17 to FY18 of RM10 million to Gearing (x) 0.37 0.39 0.38
completed by the second quarter sheet to possibly make way for RM12 million for maintenance. Net dividend yield (%) 6.2 6.2 6.2
of financial year 2018 (2QFY18). future acquisitions. All in, we are — Kenanga Research, Jan 9 Source: Kenanga Research *Core NP refers to RNI
12 B R O K E R S’ C A L L WEDN ESDAY JAN UARY 1 0 , 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY

Supermax seen
Hartalega likely to use competitive
pricing for anti-microbial gloves
Hartalega Holdings Bhd billion gloves annually. We note

continuing to benefit
(Jan 9, RM10.8)
Maintain sell with a higher target
price (TP) of RM8.04: We believe
China’s anti-pollution drive should
continue in the near term, forcing
that the expansion of its Plant 4
Next Generation Integrated Glove
Manufacturing Complex (NGC)
is slightly ahead of schedule. It
has already installed 10 out of 12

from glove shortage

Chinese vinyl glove producers to lines and the target completion
grapple with strict environmental has been brought forward to this
laws. In turn, Hartalega looks set month instead of April. We believe
to continue benefitting from the the acceleration is deliberate in
current global market shortage. order to capture the current pent-
The supply gap is filled by light- up demand for its products. That
er-weight nitrile gloves (3g and said, Plant 5’s timeline for commis-
below) as product substitution. sioning in the second half of 2018
Supermax Corp Bhd Supermax Corp Bhd Hartalega Holdings Bhd’s man- (2H18) remains unchanged. Nev-
(Jan 9, RM2.31) agement shared that its gloves are ertheless, Hartalega plans to add
Upgrade to buy with a higher target FYE JUNE (RM MIL) 2016A* 2017A 2018E 2019E 2020E sold out until April 2018 and we one manufacturing line a month
price (TP) of RM3.10: We are up- Revenue 1,092.2 1,126.6 1,310.7 1,333.8 1,443.4 gathered the company is running over the next one to two years.
grading our call on Supermax Corp Ebitda 196.8 148.5 193.5 201.1 225.6 at capacity utilisation of about 92% Hartalega will likely employ a
Bhd from “hold” to “buy” on valua- Pre-tax profit 162.8 110.4 151.9 159.3 183.9
(similar to the second quarter of competitive pricing strategy to en-
tion grounds as the price earnings financial year 2018 [2QFY18] lev- courage take-up of its new anti-mi-
Net profit 103.1 70.2 112.9 118.5 136.9
discount against peers has widened el). These indicate robust short- crobial gloves (AMG). The aim is
too much, in our view. It is current- EPS (sen) 15.5 10.5 16.9 17.8 20.5 term demand and the new capacity to leverage on product innovation
ly trading at an undemanding 11.8 PER (x) 12.9 19.0 11.8 11.3 9.8 coming on stream is indeed ad- and ultimately create customer
times estimated financial year 2018 Core net profit 103.1 70.2 112.9 118.5 136.9 vantageous to Hartalega. stickiness and minimise churn.
(FY18E) earnings per share (EPS) Core EPS (sen) 15.5 10.5 16.9 17.8 20.5 Over the past two months, Har- Hartalega booked in an adjust-
(60% discount relative to peers). We Core EPS growth (%) (18.7) (31.9) 60.9 4.9 15.5 talega has added five production ed bottom line of RM106 million in
believe that Supermax, like its peers, Core PER (x) 12.9 19.0 11.8 11.3 9.8
lines, bringing the total number 2QFY18. The company is poised to
should continue to benefit from the of lines to 91. Now, the company release its 3QFY18 results on Feb
Net DPS (sen) 6.1 4.4 6.8 7.2 8.3
ongoing glove shortage, despite the is able to manufacture up to 30 6. — UOB Kay Hian, Jan 9
legal issue surrounding its founder. Dividend yield (%) 3.0 2.2 3.4 3.6 4.1
Delivery of earnings growth in FY18 EV/Ebitda (x) 7.5 11.0 8.7 8.3 7.3 Hartalega Holdings Bhd
will likely be the key rerating cata- Chg in EPS (%) 11.4 8.1 8.0
lyst. We raise the 12-month TP to Affin/Consensus (x) 1.11 1.06 1.11 FYE MARCH (RM MIL) 2016 2017 2018F 2019F 2020F
RM3.10 based on a 17.8 times 2018 *Rebased to June-end for comparison purpose Net turnover 1,498 1,822 2,495 2,921 3,365
price earnings ratio (PER). Sources: Company, Affin Hwang forecasts, Bloomberg
One of the biggest investor con- Ebitda 388 420 641 730 813
cerns is the stability of the manage- Operating profit 318 350 553 635 712
ment team, as its founder (Stanley for the company. Supermax, like its RM3.10 (previously RM2.10) based on Net profit (rep/act) 258 283 441 507 569
Thai) was recently sentenced to jail peers, will likely continue to benefit a higher multiple of 17.8 times 2018 Net profit (adj) 258 283 441 507 569
for five years for insider trading (the from the vinyl glove supply disrup- PER (from 13 times) at +1 standard EPS (sen) 15.7 17.1 26.7 30.7 34.4
case is on appeal). The board has tion in China, which should help deviation historical mean. Even at PER (x) 68.7 62.9 40.3 35.1 31.3
appointed Tan Chee Keong (Stan- drive Supermax’s earnings growth this higher target multiple, we believe
P/BV (x) 11.8 10.6 9.2 8.0 7.0
ley’s nephew) and Cecile Jaclyn Thai for FY18. We have raised our FY18 that there is upside potential, as the
(Stanley’s daughter) as executive di- to FY20 earnings by 8% to 11%, to stock would be trading at a 39% dis- EV/Ebitda (x) 45.8 42.3 27.7 24.4 21.8
rectors to help ease concerns over factor in the better growth prospects. count to the current sector forward Dividend yield (%) 0.7 0.8 1.1 1.2 1.3
succession, in our view. We believe However, consensus is less optimis- PER of 29 times. Supermax has traded Net margin (%) 17.2 15.5 17.7 17.4 16.9
that the concerns have been priced tic about Supermax’s outlook, as its at a 16% discount to the sector since Net debt/(cash)
into the current share price, and the annualised net profit based on the 2010. The biggest downside risk to our to equity (%) 10.9 11.3 (2.5) (8.4) (14.3)
result of the appeal is not likely to first quarter of FY18 (1QFY18) is 10% investment thesis would be an even Interest cover (x) 1,032.8 412.9 413.2 470.8 524.7
have a further negative impact on higher than the consensus forecast. weaker-than-expected demand for
ROE (%) 18.6 17.8 24.5 24.5 23.9
the share price. In our view, the successful delivery gloves, resulting in a longer time lag
Despite the concerns surround- of earnings growth would be the key on passing the higher production Consensus net profit - - 424 486 542
ing Supermax’s management team, rerating catalyst for the stock in the cost to its customers. — Affin Hwang UOBKH/Consensus (x) - - 1.04 1.04 1.05
we believe that it is business as usual near term. We have raised our TP to Capital Research, Jan 9 Sources: Hartalega, Bloomberg, UOB Kay Hian

Yong Tai’s Encore Melaka poised to be a success

Yong Tai Bhd Yong Tai Bhd The official opening of Encore
(Jan 9, RM1.65) There is immense Melaka by May 2018 will be a ma-
FYE JUNE (RM MIL) 2017A 2018F 2019F 2020F Maintain buy with an unchanged potential in the Melaka jor catalyst. In addition, there is
target price (TP) of RM2.10: Yong immense potential in the Melaka
Revenue 87.6 365 774 646
Tai Bhd has successfully transformed
property market which property market which is targeting
Ebitda 16.5 67.4 214 192
into a Melaka-centric township is targeting not just not just its 0.9 million local popu-
Pre-tax profit 18.4 60.2 199 180
Net profit 13.7 46.0 156 142
property developer via its integrat- its 0.9 million local lation but also 16 million tourists
ed 138-acre (55.85ha) Impression who visit the Unesco World Heritage
Net profit (pre ex) 11.5 46.0 156 142 City which has RM7.7 billion gross
population but also 16 City annually. Yong Tai’s impressive
Net profit growth (pre ex) (%) 990.4 299.8 238.3 (8.9) development value and features the million tourists who unbilled sales of RM1 billion will
EPS (sen) 3.15 10.6 22.5 20.5 first-of-its-kind theatre, the Encore visit the city annually. underpin strong earnings visibility
EPS pre ex (sen) 2.64 10.6 22.5 20.5 Melaka — an iconic tourist landmark over the next two years.
EPS growth pre ex (%) 302 300 113 (9) that showcases large-scale live cul- Given Yong Tai’s unrivalled com-
Diluted EPS (sen) 3.15 10.6 22.5 20.5
tural music performances. petitive advantages arising from its
As the first Impression Series unique tourism appeal and syner-
Net DPS (sen) 0.0 0.0 4.59 4.86
project outside China, the Strait of We are the first broker to cov- gistic property product offerings, it
BV per share (sen) 111 122 99.3 115 Malacca fronting Encore Melaka er Yong Tai. We believe its invest- is expected to deliver an exponen-
PER (x) 53.7 16.0 7.5 8.2 is poised to be a resounding suc- ment merit is underappreciated tial earnings per share (EPS) CAGR
PER pre ex (x) 63.9 16.0 7.5 8.2 cess by tapping into the booming by investors given the unique tour- of 87% over the financial year 2017
P/CF (x) nm 31.7 2,229.5 5.5 Chinese tourism market in Malay- ism-centric development in Melaka. (FY17) to FY20 period. We envis-
EV/Ebitda (x) 40.3 11.8 6.0 6.0 sia which has seen an impressive Encore Melaka offers a compelling age long-term earnings visibility
Net dividend yield (%) 0.0 0.0 2.7 2.9 China tourist arrivals’ compound value proposition given its estimated for Yong Tai as its value-adding Im-
annual growth rate (CAGR) of 11% around 20% investment return rate pression City and Encore Melaka
P/BV (x) 1.5 1.4 1.7 1.5
from 2000 to 2016 (versus 1% for over the 30-year concession period, ride on booming Chinese tourism,
Net debt/equity (x) Cash 0.1 0.2 Cash Malaysia’s overall tourist arrivals), which will transform Yong Tai into reflecting the unprecedented close
ROAE (%) 4.8 9.1 25.6 19.1 making it the third-largest tourist an emerging cash cow with strong Malaysia-China ties. — AllianceDBS
Sources: Company, AllianceDBS, Bloomberg Finance LP source market. recurring income. Research, Jan 9
WED N ES DAY JA N UA RY 1 0 , 20 1 8 • T HEED G E FINA NCIA L DA ILY
345 programmes proposed
to empower women
They are aimed at making Women Empowerment Year 2018 a success
PUTRAJAYA: The women, fami-
ly and community development
ministry will forge close coopera-
tion with the other ministries and
relevant departments, agencies and
non-governmental organisations
to empower women in the family
institution, society and national
development in conjunction with
Women Empowerment Year 2018.
Its minister, Datuk Seri Rohani
Abdul Karim, said various pro-
Appeals Court
overturns
conviction of
property agent for
drug trafficking
PUTRAJAYA: A property agent
escaped the gallows after the
Court of Appeal allowed his
appeal yesterday to set aside
his conviction and death sen-
tence for trafficking in drugs.
A three-man panel com-
prising Datuk Mohd Zawawi
Salleh, Datuk Ahmadi Asnawi
and Datuk Kamardin Hashim
discharged and acquitted Hari
Singh Kanda a/l Simseer Sin-
gh after ruling that the trial
was not conducted according
to the law.
Justice Mohd Zawawi, chair-
ing the panel, said the court
was of the opinion that the
High Court Judge’s refusal to
allow the defence to admit a
statement made by a restaurant
worker, had prejudiced the de-
fence’s case and deprived Hari
Singh Kanda the opportunity to
support his case.
The defence had sought to
admit a statement made by the
worker, a Myanmar national, who
had said that the drugs belonged
to a man named Yap.
Hari Singh Kanda, 25, clad
in red and white prison clothes,
was ecstatic upon hearing the
court’s verdict.
On July 31 last year, Hari
Singh Kanda was sentenced
to death after he was found
guilty by the High Court in Kua-
la Lumpur on the charge of traf-
ficking heroin and monoacet-
ylmorphine weighting 50.4g.
He was charged with traf-
ficking in the drugs by the road
side in front of a restaurant
at Batu 3, Jalan Ipoh on June
18, 2016.
He was represented by law-
yers Hisyam Teh Poh Teik and
Datuk Geethan Ram Vincent,
while deputy public prosecutor
Wong Poi Yoke appeared for the
prosecution. — Bernama
grammes grouped under clusters
would be carried out to make Wom-
en Empowerment Year a success.
The clusters are women and
health (lifestyle, beauty and sports),
women and safety, women and econ-
omy, women and education (training
and capacity building), and women
and culture (arts and media).
“Various engagement sessions
will continuously be held with the
strategic partners and personalities
Mustafar: First batch of maids via online
recruitment to be cleared this week
PUTRAJAYA: The first batch of 36 em-
ployers would receive their foreign
maids via the Online Maid System
(SMO) this week, said immigration
department director-general Datuk
Seri Mustafar Ali.
He said the employers had com-
pleted the registration process and
were now waiting for approval from
the Foreign Workers Medical Ex-
amination Monitoring Agency (Fo-
mema).
“After obtaining the approval, the
maids will be taken to the immigra-
tion offices to have their biometric
fingerprints taken, as well as for the
printing of Temporary Employment
Visit Pass (PLKS) and i-Kad.
“If Fomema can get it (approv-
Thailand puts the brakes on Malaysian car-jacking rings
BANGKOK: Malaysian car-jacking syn-
dicates have been using Thailand as a
transit point to smuggle stolen vehicles
into other countries in the region such
as Laos, Cambodia and Vietnam.
According to Bukit Aman CID
director Datuk Seri Wan Ahmad
Najmuddin Mohd, the Thai police
had retrieved more than 100 stolen
Malaysian vehicles in the country
since 2015 and handed them over
to its Malaysian counterpart.
“Thailand has become a tran-
sit country for Malaysia’s car-jack-
ing syndicates,” he told the media
when receiving 20 stolen Malaysian
cars, mostly luxury vehicles from the
adviser to Thai police, Gen Witaya
Prayongpan, in an official ceremony
here yesterday.
Wan Ahmad Najmuddin, who
thanked the Thai police for its ex-
cellent work in tackling the crime,
said both police forces would step
up their cooperation to bust car
theft syndicates currently operat-
ing in both countries.
Bukit Aman and the Thai police,
he said, had over the years estab-
lished good relations and coopera-
in order to garner support from all
sectors in empowering women in
this country,” she said after attend-
ing the ministry’s monthly assembly
here yesterday.
When tabling Budget 2018 last Oc-
tober, Prime Minister Datuk Seri Na-
jib Razak announced 2018 as Women
Empowerment Year in appreciation
of Malaysian women’s contributions
as the pillar of family well-being and
national development.
al) done by today, the 36 employ-
ers would be the first batch to have
succeeded in hiring foreign maids
through SMO,” he told a press confer-
ence after attending the Setia Berjasa
New Year’s Mandate ceremony and
gathering here yesterday.
Mustafar said the results of the
health screening by Fomema would
take between three and five days.
He said a total of 127,991 foreign
maids were registered in the country
as of Dec 31.
As of yesterday, the SMO site re-
corded 111,000 visitors with 3,141
employers registered as users, said
Mustafar.
“Of the 3,141 employers, 76 have
completed the registration process.
tion encompassing all fields, as was
shown recently with the arrest of six
Malaysians in Bangkok for alleged
links to a call-scam syndicate.
The CID chief said efforts were
under way to track down the Malay-
sian leader of the syndicate which
was busted in Bangkok last week.
Thai police said in a statement
issued after the handing-over cer-
emony that stolen vehicles had
been a long-standing issue and
had negatively impacted the econ-
Rohani said an estimated 345
proposed programmes had been
compiled and recorded through the
women’s development department
towards empowering women up to
the global level.
She also hoped that the Women
Empowerment Year 2018 page on
Facebook would be a platform to
obtain feedback, views and sug-
gestions to make the programmes
a success. — Bernama
Of the number, 36 employers are
waiting for the approval from Fo-
mema.
“The employers’ willingness in
providing complete documents have
also facilitated the application pro-
cess,” he explained.
Earlier in his speech, Mustafar
said the department would imple-
ment a secondary screening of vis-
itors from high-risk countries at all
international airports in the country.
“We will conduct thorough checks
on tourists, students or expatriates
who enter (the country) via visas,
biometrics (fingerprint identification
system) and passports,” he said, add-
ing that the department would not
compromise on security. — Bernama
Wan Ahmad Najmuddin
(right) and Prayongpan
taking a closer look
at one of the vehicles
returned to Malaysian
police during the
handing over of 20
stolen vehicles at
the Royal Thai Police
headquarters in
Bangkok yesterday.
Photo by Bernama
omies of both countries.
Thai Prime Minister Gen Prayut
Chan-o-cha and his deputy, Gen
Prawit Wongsuwan, had always
stressed on the importance of tack-
ling the issue as it had the potential
to lead to other criminal activities.
“ ... this is not merely about sto-
len motor vehicles but could po-
tentially finance other activities of
criminal nature such as terrorism,”
Thai police said in the statement.
— Bernama
H O M E 13
IN BRIEF
Case of injured pupil
set for fourth mention
on Feb 19
JAWI: The Magistrate’s Court
here has fixed Feb 19 for re-
mention of the case of an Eng-
lish language teacher accused
of voluntarily causing hurt to
a Year Three pupil last August.
Magistrate Hizween Azleena
Othman Kamal fixed the date
after deputy public prosecu-
tor Muhammad Uzair Abd
Munir applied for a new date
for submission of the alleged
victim’s medical report. The
teacher, Noor Idzahril Ahmad,
52, claimed trial on Dec 11 to
injuring the nine-year-old pupil
of SK Seri Sentosa, Nibong Te-
bal here on Aug 2. The charge
under Section 323 of the Penal
Code provides for a maximum
jail sentence of one year or a
fine of up to RM2,000 or both,
upon conviction. — Bernama
G25 obtains leave to
challenge book ban
KUALA LUMPUR: The group of
prominent Malay former civil
servants (G25) has obtained
leave to apply for a judicial re-
view of the ban on the book
Breaking The Silence: Voices Of
Moderation — Islam In A Con-
stitutional Democracy. Lawyer
Malik Imtiaz Sarwar, who rep-
resented five applicants from
the group, said High Court
Judge Datuk Wira Kamaluddin
Md Said granted the leave yes-
terday. He told reporters after
the proceedings in chambers
that the respondents repre-
sented by senior federal coun-
sel Suzana Atan and Shamsul
Bolhassan did not object to the
application. He said the court
fixed Jan 23 for case manage-
ment. — Bernama
Court to hear EC’s prelim-
inary objections on Jan 23
KUALA LUMPUR: The High
Court has fixed Jan 23 to hear
preliminary objections by the
Election Commission (EC) on
the application of six registered
voters of the Segamat parlia-
mentary constituency to cancel
the entry and/or retention of
102 names of army personnel
as voters in the Supplementary
Electoral Roll (RDPT) 2017 by
the EC. Lawyer N Surendran,
who represented the six voters,
told this to reporters after yes-
terday’s proceedings in Judge
Datuk Wira Kamaludin Md
Said’s chambers. — Bernama
Grass cutter gets jail, can-
ing for assaulting mother
KUANTAN: “I want to see my
mother before I serve my sen-
tence; I want to apologise to
her,” pleaded a grass cutter af-
ter he was sentenced to seven
years’ jail and three strokes of
the cane by the Sessions Court
here yesterday for injuring his
mother by assaulting her last
Thursday. According to the
charge sheet, the accused on
Jan 4 voluntarily caused hurt to
his mother, Mea’ah Abd Majid,
64, by hitting her head with the
metal shaft of a grass cutter. —
Bernama
14 C O M M E N T
Ecosystems are collapsing
Food bowls seen as next as climate change transforms environments
BY DAVI D FI CKL I NG
T
he world we grew up
in is disappearing.
From the trop-
ics to the poles, the
effects of climate
change are trans-
forming environments that hu-
mans have known since prehis-
tory.
Chances of saving the world’s
coral reefs are disappearing be-
cause of mass bleaching, accord-
ing to a paper by scientists on four
continents published in the jour-
nal Science last week. Such events,
caused by warmer-than-usual wa-
ters, had never been observed un-
til the 1980s, but are now occur-
ring once every six years. Many
marine biologists now believe
they will see the demise of cor-
al reefs worldwide within their
lifetimes.
Similar trends are afoot in
colder climes. The Arctic shows
no signs of returning to the con-
ditions of reliable ice cover that
have persisted at least since data
was first collected in the late 19th
century, scientists at the US Na-
tional Oceanic & Atmospheric
Administration wrote in an an-
nual review last month.
Permafrost temperatures hit
record-high levels in 2016, and
the region as a whole is warm-
ing at twice the global rate, they
wrote.
If you think that is the worst
thing the coming century of cli-
mate change has in store, check
what is happening to agricultural
land (see chart — Location, Lo-
cation, Location).
Production from the world’s
Hedge funds start 2018 with record US$19b bet on the euro
BY JAMIE MCGEEVER
HEDGE funds have kicked off
2018 with their biggest bet ever
on the euro rising, a clear vote of
confidence in the single currency
but, with positioning so stretched,
one which could backfire in the
near term.
Data from the Chicago Futures
Trading Commission (CFTC) show
that hedge funds and speculative
accounts ramped up their net long
euro positions by more than 35,000
contracts to 127,868 in the week to
Jan 2, a bet worth US$19.3 billion
(RM77.39 billion).
That is the largest net long euro
position since the single currency’s
inception 19 years ago, overtaking
the previous high of 119,538 con-
farms needs to grow at a headlong
pace over the coming decades.
Rising populations and growing
incomes that are already driving
up consumption of land-intensive
produce such as meat, means
demand for farm products will
rise between 70% and 110% be-
tween 2005 and 2050, according
to the UN’s Food & Agriculture
Organization.
Usable land, though, is ex-
pected to barely increase. De-
spite warmer climates opening
up frigid stretches of Canada,
Russia and China to agriculture,
desertification and degradation
elsewhere means the area of land
considered moderately or highly
suitable for agriculture will only
rise from 33.2 million sq km to
34.1 million sq km toward the
tracts registered in mid-May 2007.
The “fast money” community’s
bet on the euro has been a ma-
jor driver of the currency’s rise. It
gained 14% against the dollar last
year, its best year since 2003 and
third best ever.
It is easy to see why. Positive sur-
prises from the eurozone economy
beat positive US economic sur-
prises for much of 2017 (although
that trend reversed late last year)
and the eurozone economy grew at
2.6% in the third quarter, its fastest
since 2011.
According to the European Com-
mission, the European economy,
the bulk of which comprises the 19
nations that use the euro, grew 2.3%
last year compared to the US’ 2.2%.
The “euroboom”, as it has come
to be known, is one of the most
important components of a wider
economic upswing that now has
end of this century, according to
one 2014 study (*).
Climate change is already play-
ing a part here. Heavy spring rain-
falls in the US Midwest, which
have been linked to the effects
of global warming, are one of the
main causes of a dearth of protein
in wheat that has already caused
ructions in US grain markets.
The current freezing winter
weather could exacerbate the
same problems, while rising
carbon dioxide concentrations
themselves could be reducing
the nutrient content of crops on
a global scale.
It is too soon to despair. While
the 19th and 20th centuries’ dev-
astating famines in the British and
Chinese empires initially seemed
to confirm economist Thomas
world growth closing in on 4%.
The euro climbed to a four-
month high last week of US$1.2089
, within a whisker of breaking above
September’s peak of US$1.2092
which would have heralded a fresh
three-year peak.
Analysts at Deutsche Bank,
among others, have raised their
forecasts for the euro. They see it
reaching US$1.30 by the end of the
year on the back of strong capital
flows into the region.
ECB dilemma
But with positioning so stretched,
the question is whether the euro’s
upward momentum can be sus-
tained. The euro on Monday was
down for the second day in a row,
something not seen for a month.
It was back below US$1.20, albe-
it it only just, and recent history
suggests it will be difficult to stay
WEDN ESDAY JAN UARY 1 0 , 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY
Malthus’s predictions that the
world risked running out of food,
recent decades have demonstrat-
ed that hunger is more a result of
bad or wicked policy than envi-
ronmental constraints.
Undernourishment, which ran
as high as 20% of the world’s pop-
ulation in the early 1990s, fell to
just 10.6% in 2015, before rising
in 2016 for the first time in 14
years. The existing stock of land
would be quite adequate to meet
2050’s agricultural demands so
long as farmers manage to use
it more efficiently and profitably,
according to a 2015 study.
Indeed, at present the world
appears to be drowning in a sur-
feit of farm produce. The Bloomb- * “Marginal” land will see a more
erg Agriculture Subindex touched substantial increase, from 21 mil-
a record-low 46.8 last month due lion sq km to 24.8 million sq km.
above that level for any length of
time without fresh tailwinds.
Much depends on the relative
paths of US Federal Reserve (Fed)
and European Central Bank (ECB)
monetary policy.
Traders are betting that the Fed
will not tighten too aggressively,
while doubts are growing on how
long the ECB can stick with nega-
tive interest rates with growth so
strong and oil prices at their high-
est in three years.
Yet a strong euro will surely
make ECB policymakers think
twice about how quickly and ag-
gressively they tighten. A general
rule of thumb states that a 10%
rise in the euro corresponds with
a fall of nearly 0.5 percentage
points in inflation over the next
12 months.
Annual eurozone inflation fell
to 1.4% in December, moving away
to slumps in the price of sugar,
coffee, wheat and corn.
Such conditions will not last
forever. In years to come, China
National Chemical Corp’s takeo-
ver of Syngenta AG and the merg-
ers that created DowDuPont Inc
and Nutrien Ltd — not to mention
the pending or possible takeo-
vers of Monsanto Co by Bayer AG
and Bunge Ltd by Glencore plc
— may come to be seen as mo-
ments when far-sighted managers
looked past temporary farm gluts
to see a leaner, and more profit-
able, future. Investors who value
Mosaic Co and Deere & Co at a
premium to the S&P 500 already
seem to believe as much.
See related story on Page 21
Still, events in the tropical
oceans and the frigid Arctic
should be of concern. Coral and
ice cover can survive warming
events as long as the anomalies
are rare enough to allow ecosys-
tems to recover — but when the
blows come too close together,
the path to destruction becomes
inexorable.
The 20th century’s green rev-
olution in agriculture took place
against the backdrop of a glob-
al climate in a steady state that
allowed similar recoveries from
crop failures, but those conditions
are rapidly passing into history.
For decades now, humanity
has mostly kept its edge in the
race between farm productivity
and starvation. In the future, we
wll be running faster just to keep
up. — Bloomberg
from the ECB’s target of “below, but
close to, 2% over the medium term.”
The euro’s 14% rise against the
dollar last year (admittedly only
5% on a trade-weighted basis) will
help keep a lid on the inflationary
pressures being stoked by strong
growth and high oil prices.
When positioning was almost
as stretched back in May 2007,
hedge funds and speculators be-
gan scaling back their long po-
sitions. So much so that almost
a year later they were net short
of euros.
But the euro/dollar exchange
rate did not reverse. It went from
around US$1.35 at the CFTC
peak net long all the way through
US$1.60 by April 2008, just as global
markets were about to come crash-
ing down later that year.
Will a similar pattern be repeat-
ed this time around? — Reuters
WED N ES DAY JA N UA RY 1 0 , 20 1 8 • T HEED G E FINA NCIA L DA ILY
‘Apple needs
to take
responsibility
for technolgy
backlash’
BY JEN N I F ER SA B A
NEW YORK: The technology
backlash has caught up to Ap-
ple. Jana Partners and California
State Teachers’ Retirement Sys-
tem (CalSTRS) want the US$900
billion (RM3.61 trillion) compa-
ny to give parents better controls
over their children’s iPhones. It’s
an unusual issue for an activist,
and apps from Facebook and
Snap would make better targets.
The hedge fund and teachers’
pension giant want Apple to take
responsibility for how its prod-
ucts are affecting children. In a
letter to the board on Saturday,
the activists, including pop star
Sting and wife, Trudie Styler, as
advisers — cited research that
suggests heavy smartphone use
is linked to a rise in depression
and suicide among teens and
young adults.
Introduced more than a dec-
ade ago, the iPhone’s popularity
has spread to an ever-younger
demographic, leaving educators
and researchers scrambling to
understand how it may be af-
fecting children’s development.
Other tech outfits are culprits too
and provide rich targets. More
people have smartphones that
run on Google’s Android system
than on Apple’s operating sys-
tem. Facebook and Snapchat’s
business models depend on in-
creasing the time spent on mo-
biles, and target kids under the
age of 13 with specialised apps.
It’s a worthy theme to explore
but a departure for Jana. The
hedge fund led by Barry Rosen-
stein is best known for getting
tangible results measured in US
dollars by agitating for things
like a sale of Whole Foods or a
shake-up of the board of Tiffany.
In this case, it’s smartly teaming
up with CalSTRS, the largest US
public-sector teachers’ pension
fund and one that’s increasingly
emphasising social responsibili-
ty with its investments. Together,
the two hold roughly US$2 bil-
lion worth of Apple stock.
The fact Jana is launching a
campaign in the more squishy
territory of sustainability and
ethics could signal a broader
shift in the winds. Investors are
increasingly pushing compa-
nies to address a wider range of
issues and risks. Exxon Mobil
and climate change is one ex-
ample. Gender issues and the
ability to attract more diverse
talent are also issues that are
rising to the level of proxies.
Silicon Valley used to enjoy
an exalted status, but questions
about the role of social media
in the 2016 presidential election
and the way digital technologies
may threaten jobs and promote
monopolies are breeding scep-
ticism. The new focus on Apple
shows how much technology has
lost its halo. — Reuters
Samsung tips record
4Q operating profit
It sees this boost based on the huge demand for its memory chips
SEOUL: South Korean telecom gi-
ant Samsung Electronics expects
to post a record operating profit of
more than US$14 billion (RM56.1
billion) in the fourth quarter (4Q),
it said yesterday, boosted by the
huge demand for its memory chips.
The booming chip unit has helped
the firm overcome a bribery scandal
that saw its de facto head jailed and the
embarrassing Galaxy Note7 debacle.
Samsung estimated operating
profits would hit 15.1 trillion won
(RM60 billion) in October to Decem-
ber, nearly double the 9.2 trillion won
posted a year earlier. However, the
figure was below analyst forecasts,
which averaged 16.1 trillion won in
a survey by Bloomberg News. Full-
year operating profit was projected
at 53.6 trillion won — also a record.
But the company’s travails have
not impacted demand for Samsung
Electronics’ products. Fourth-quarter
Bitcoin ETF proposals withdrawn due
to US SEC concern — fund managers
BY TR EVOR HUNNICUTT
NEW YORK: Two US companies
shelved proposals to launch bit-
coin exchange-traded funds, citing
ongoing concerns by the Securities
and Exchange Commission, filings
showed on Monday.
Staff at the regulatory agency
“expressed concerns regarding the
liquidity and valuation” of futures
contracts based on the digital as-
set, according to one of the filings.
Intel chief says chip flaw damage contained by industry
LAS VEGAS: Intel chief Brian Krzan-
ich said on Monday that the impact
of a recently discovered vulnerability
in computer chips has been limited
due to “remarkable” collaboration
by the technology industry.
Krzanich took the unusual step
of addressing the security issue as
he delivered a keynote ahead of the
opening of the huge Consumer Elec-
tronics Show (CES) in Las Vegas, an
industry event expected to draw some
180,000 people from the sector. As yet,
Krzanich said, there is no information
to suggest any loss of data from the so-
called Meltdown and Spectre flaws,
and he added: “We are working tire-
lessly to make sure it stays that way.”
Krzanich made his most
high-profile public comments since
the release of research highlighting
vulnerabilities affecting the chips
powering most modern personal
computers and many mobile devic-
es. “The collaboration of so many
sales were projected to have jumped
23.8% year-on-year to 66 trillion won,
with full-sales estimated at 239.6 tril-
lion won. The firm’s share price sank
3.11% to 2.52 million won in Seoul,
with analysts raising concerns about
the impact of a stronger won and
lower chip prices.
See related story on Page 21
“The won-US dollar exchange rate
is worrisome,” Lee Seung-Woo, an
analyst of Eugene Investment and
Securities, said in a report before the
announcement, according to Bloomb-
erg News. But Greg Roh, an analyst at
HMC Investment Securities, said the
figures were “satisfactory” despite
missing estimates. “I think Samsung
overspent on marketing because it
was the end of the year,” Roh told AFP,
and added: “The first quarter for this
year looks good for Samsung. — AFP
The move adds a new hurdle
to the bid by Wall Street firms to
capitalise on investor interest in
cryptocurrencies, and it opens a
rare public divergence between
two financial regulatory agencies
over how to regulate them.
Trusts controlled by Rafferty
Asset Management LLC and Ex-
change Traded Concepts LLC each
cancelled plans to launch three bit-
coin funds that could be traded by
retail investors as easily as stocks.
companies [to mitigate the threat]
is truly remarkable,” Krzanich said.
“Security is job No 1 for Intel and
our industry. The primary focus of
our discussions is to keep our cus-
tomer data safe.”
W O R L D B U S I N E S S 15
IN BRIEF
Berkshire may get US$37b
book value boost from US
tax cuts — Barclays
NEW YORK: Berkshire Hatha-
way Inc, the conglomerate run
by Warren Buffett, may see
its book value (BV) grow by
US$37 billion (RM147.4 bil-
lion) because of US tax law
changes enacted by US Pres-
ident Donald Trump, Barclays
Capital analysts estimated
on Monday. BV, a key perfor-
Samsung Electronics mance measure for Buffett
Operating profit reflecting assets minus lia-
Trillion won bilities, probably rose by 12%
Estimate in the final quarter of 2017
15.1
($14.1 b) because Berkshire can lower
its tax bill on investments that
14.53 have risen in value, Barclays
14.07 analysts led by Jay Gelb wrote.
That would leave Berkshire
valued at about 1.39 times BV,
9.9 which Gelb called “attractive”,
9.22
8.14 though it would remain above
6.68 the 1.2 ratio that could prompt
6.14
5.2 Buffett to authorise share re-
purchases. — Reuters
Blackstone’s new
insurance unit targets
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 US$100b in assets
2015 2016 2017 NEW YORK: Blackstone Group
Source : Samsung.com
wants to quadruple to US$100
billion (RM401 billion) the
assets it manages at its new
unit for insurers as it seeks to
boost returns for firms strug-
gling under low interest rates,
the unit’s newly appointed
chief said on Monday. Black-
stone recruited Chris Blunt,
the former president of New
York Life’s investments group,
to run Blackstone Insurance
Solutions, a new business
Neither firm could be reached for formed late last year when
comment. Blackstone agreed to oversee
Fund managers thought the pro- US$22 billion from Fidelity &
posals had a chance at winning ap- Guaranty Life. — Reuters
proval given the launch last month
of futures contracts based on bit- GoPro cuts staff, consid-
coin on both the Chicago Mercan- ers selling company after
tile Exchange and Chicago Board weak holiday sales
Options Exchange. N E W YO R K : G o P ro a n -
Regulators have been scram- nounced on Monday that it
bling to figure out how to deal with will cut more than 20% of its
this relatively new asset, and no staff and signalled it was will-
single one has control. — Reuters ing to consider a sale follow-
ing weak holiday season sales.
The camera and technology
company said it would cut its
workforce of 1,254 to fewer
than a thousand. GoPro also
plans to exit the drone busi-
ness and chief Nicholas Wood-
Krzanich speaking man will accept a salary of just
at the Intel US$1 (RM4.01) this year. The
Keynote address company’s share price plum-
at CES in Las meted amid the disappointing
Vegas, the US, reports. — AFP
on Monday. The
Intel chief took Google engineer fired
the unusual step for sexist memo sues
of addressing the ex-employer
security issue as SAN FRANCISCO: A Google
he delivered a engineer who was fired after
keynote ahead of writing a memo defending the
the opening of the gender gap in Silicon Valley
consumer show. technology jobs as a matter of
Photo by Reuters biology has sued his former
employer for discrimination.
The Dhillon Law Group said
it was filing a class action law
Krzanich added that updates will suit on behalf of James Damore
be available for 90% of its products and others it said were discrim-
in the coming days and for the rest inated against due to their “per-
by the end of January, and urged ceived conservative political
all computer users to update as views”, their gender and their
quickly as possible. — AFP Caucasian race. — AFP
16 FO CU S
Png: Deciding what to do based on the past is no longer going to work. Photo by Samuel Isaac Chua/The Edge Singapore
Overhaul at SIA Engineering
Being weighed down by cost pressures and changes in the industry, can the company return to growth?
BY M I C HEL L E TEO
P
ng Kim Chiang, CEO of SIA En-
gineering Co (SIAEC), arrives for
the interview at a spacious and
bright lounge that seems almost
too casual for a decades-old air-
craft engineering company. In
fact, it soon emerges that the space is part
of the “innovation and technology” group,
initiated by Png himself, to help position
SIAEC for the years ahead.
The company started out as the engineer-
ing division of Singapore Airlines responsible
for the maintenance, repair and overhaul
(MRO) works of the group’s planes. It was
listed on the Singapore Exchange in 2000
and now services planes for a host of other
airlines. The company is still a 78%-owned
subsidiary of SIA and known for paying out
healthy dividends. For its latest financial
year, it paid a total dividend of 18 Singapore
cents a share, including a special dividend
of five Singapore cents a share. At its current
share price, that represents a yield of 5.6%.
Over the past decade, the company has
expanded outside of Singapore, even as it
maintains the lion’s share of maintenance
work at Changi. While the SIA group is still
a major customer accounting for a big part
of its revenue, SIAEC has since established
operations in seven other countries, provid-
ing line maintenance and heavy checks for
various airlines at 37 airports.
Lately, however, the company has been
facing stronger headwinds. New-generation
aircraft rolling off factory lines in recent years
have affected work volumes at MRO service
providers, as the newer planes have longer
maintenance intervals than the aircraft they
are replacing. Many airlines, pressured to
bring down costs to improve margins, have
tended to defer non-essential MRO work,
further driving demand down. In addition,
SIAEC faces keen competition from low-
er-cost countries in the region that are keen
on developing MRO hubs to capitalise on
fast-growing air travel dynamics.
Meanwhile, some observers have also
questioned whether SIAEC’s parentage is
now more of a hindrance to its expansion,
particularly in securing non-SIA customers.
The stock’s low free float, of 22%, is also a
concern. Last October, the stock suddenly
fell 5% over the course of a morning’s trad-
ing, to a six-year low. Despite subsequent
analysis pointing out that the decline was
triggered by a substantial block trade from
an institutional investor, rather than some-
thing being fundamentally wrong with the
company, the stock has yet to recover com-
pletely from that event. At current levels, it
is still 24% off its peak last June.
The way Png sees it, the company bene-
fits from the SIA branding — it serves as an
assurance of quality to its third-party cus-
tomers. Still, he is prepared to overhaul the
entire company to make it a more effective
player. “It’s about what we have to do and
not about what has worked for us in the past
years,” Png says. “The world has changed so
much. Deciding what to do based on the past
is no longer going to work. When I was asked
to take over, I had a different approach: Basi-
cally, to look 10 years ahead, work backwards
and decide what we must do right now for
us to be prepared [for] the future.”
Lower revenue, rising costs
Png eschews the limelight and is rather
soft-spoken, and one would struggle to hear
him above the din of engines and machinery
in the hangars. A veteran of the SIA group,
having joined in 1975, he rotated through
WEDN ESDAY JAN UARY 1 0 , 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY
the airline’s operations, aircraft and compo-
nent services, and services business units.
In April 2015, when he took over the
running of the aircraft and engine MRO
business, he had his work cut out for him.
New-generation models are more reliable,
whereas new technology would require
MRO companies such as SIAEC to update
their services in tandem. “The way aircraft
are designed these days, the manufacturer
does it to cater to the airlines’ need for lower
maintenance costs. That means a reduction
in our revenue,” Png explains.
SIAEC’s earnings performance in recent
years bears out the challenges it faces. For FY15
ended March 31, turnover was down nearly
5% y-o-y to S$1.12 billion. Earnings were down
31% at S$183.3 million. The following year, it
recorded S$176.6 million in earnings, on the
back of S$1.11 billion in turnover.
For FY17, turnover was still lower, at S$1.1
billion. Earnings rose 88% y-o-y to S$332.4
million, however, even though operating
profit for the year had fallen 31% y-o-y to
S$72 million. The improvement was due to
the S$178 million gain from divestments. The
company had sold its 10% stake in Hong Kong
Aero Engine Services (HAESL) for S$141.6
million and also received a special dividend
of S$36.4 million after HAESL divested its
20% stake in Singapore Aero Engine Ser-
vices. Without these one-off gains, SIAEC’s
net profit for the year would have been 2.6%
lower y-o-y at S$172 million.
For 1HFY18, turnover was up 2.1% y-o-y
at S$547.5 million. Core operating profit at
S$37.6 million was nearly 15% lower than
the year before. Excluding the impact from
the divestment gains the year before, earn-
ings came in 1.1% higher at S$74.3 million.
Aircraft MRO is notoriously labour-inten-
sive and costs have been rising. Staff costs
for SIAEC’s 2QFY18 ended September rose
5.3% y-o-y to S$123.3 million, the largest
expenditure component. Corrine Png, ana-
lyst at Crucial Perspective, notes in a recent
report: “Every 1% rise in staff cost cuts SIA
Engineering’s FY18 net profit by 2%, all other
things being equal.”
To be sure, the company has embarked
on internal improvements to lower costs
and raise productivity. “We adjust and fine-
tune processes and so on. But that can no
longer give us the improvements we need,”
SIAEC’s Png says. There is a need to invest,
he explains, for the company to keep ahead
in the industry and return to growth.
The long game
In February 2016, the company announced
it was setting aside up to S$50 million “over
the next few years”, with the support of the
Economic Development Board, for innova-
tion and technology initiatives. In a statement
at the time, Png said SIAEC would identify
“and gain competencies in emerging tech-
nologies that will be an integral part of the
MRO industry in the next 10 years”.
He added that the company would col-
laborate with airlines, research institutions
and technology partners to develop solu-
tions for airline customers. Key areas to be
explored include additive manufacturing,
also known as 3D printing; robotics; data
analytics; and the digitalisation of systems.
“These investments are aimed at develop-
ing innovative solutions to enhance airline
customers’ fleet operating efficiencies and
reliability while creating higher levels of
productivity and process improvements in
our business,” Png said.
Since then, he has set up the “Innovation
and Technology” group, drawing employees
CON T I N UES N EX T PAGE
WED N E S DAY JA N UA RY 1 0 , 20 1 8 • T HEED G E FINA NCIA L DA ILY
Singapore’s private-home prices up 1% in 2017
BY A N G EL A T EO
BASED on flash estimates released by The Ur-
ban Redevelopment Authority (URA) on Jan
2, the private residential property index rose
one point to 138.6 in 4Q17, up 0.7% q-o-q.
Property prices rose 1% in 2017, marking
the first y-o-y increase in prices since 2013.
Prices fell 3.1% y-o-y in 2016, 3.7% y-o-y in
2015 and 4% y-o-y in 2014.
Lee Nai Jia, head of research at Edmund
Tie & Co (ET&Co), attributes the full-year
increase in private residential property prices
to, among other factors, the easing of cool-
ing measures, bullish bids for Government
Land Sales (GLS) and collective sale sites,
as well as the stronger economic outlook
towards year-end.
Prices of non-landed private residential
properties in the Core Central Region (CCR)
saw the strongest growth, rising 1.6% q-o-q in
4Q17, compared with a 0.1% increase in 3Q17.
“According to caveats lodged with URA,
some projects that contributed to the price
growth in 4Q18 were Martin Modern,
Gramercy Park and Sophia Hills, which saw
median prices rise q-o-q by 8.3%, 4.0% and
1.8%, respectively,” comments Tricia Song,
head of research for Singapore at Colliers
International.
Meanwhile, prices in the Rest of Central
‘Company is using its strong balance sheet to start new ventures’
FROM PR EV I O U S PAG E
from various business functions throughout
the organisation — from product develop-
ment engineers to sales representatives
— who devise better ways of working. A
3D printer is used to produce replacement
parts for aircraft interiors, such as the cov-
er at the end of a seat’s armrest, or a dec-
orative drainage trap for restroom basins.
Also, 3D laser scanners have been brought
in to log the damage on an aircraft due for
repairs, which significantly cuts down the
time it takes traditional visual inspections
to do the same.
Further ahead, SIAEC is looking into de-
ploying robotics and autonomous ground
vehicles in its hangars, as well as augmented
and virtual reality technologies into its work
processes. To be sure, AR and VR are not en-
tirely new in the industry. Boeing, for one,
has its aircraft assembly workers using AR
wearables. Still, it might take SIAEC longer
to implement such programmes. VR is being
adapted for training in certain areas, but its
full deployment in operations depends on
manufacturers and aviation authorities’ ap-
proval, which is bound to take time.
“Our business is highly regulated, so what-
ever we do on an aircraft has to be according
to the strict stipulations of manufacturers
and aviation authorities,” Png explains. Still,
it does not mean engineers at SIAEC can-
not get started on new methods or equip-
ment. “The same technology can be used
on different things. So, we can start with
the [non-critical components] and build
on it,” he adds.
Nevertheless, several other initiatives
have been put into motion. For instance,
the company is close to completing the dig-
italisation of production planning systems,
which Png says would be another boost for
productivity. The move shrinks volumes of
manuals and job instructions onto mobile
tablets for engineers, who can access the
information anywhere in the airport.
The company is also analysing the tranch-
es of maintenance data it collects for ways
to improve its services. In addition, data on
aircraft movements, for instance, could be
Region (RCR) and the Outside Central Re-
gion (OCR) recorded lower q-o-q increas-
es of 0.2% and 0.6%, respectively, in 4Q17,
compared with 0.5% and 0.8% in 3Q17.
It was the same for landed property pric-
es, which rose 0.6% q-o-q in 4Q17, versus
1.2% in 3Q17.
Colliers’ Song notes that overall private
residential property prices for 2017 are 10.3%
below the 2013 peak. “We expect overall pri-
vate home prices to rise 5% in 2018, barring
unforeseen events,” she says.
According to URA, flash estimates were
calculated based on transaction prices given
in contracts submitted for stamp duty pay-
ment as well as developer sales data until
mid-December.
Meanwhile, based on flash estimates
released by HDB on Jan 2, the resale price
index for public housing fell from 132.8
points in 3Q17 to 132.6 in 4Q17, translating
into a 0.2% decrease in prices versus a 0.7%
decline in 3Q17.
According to Eugene Lim, key executive
officer of ERA Realty, resale prices of HDB Prices of non-landed private residential properties in CCR rose 1.6% in 4Q17.
flats saw a 1.5% y-o-y decline in 2017. Lim
attributes this to, among other factors, a re-
ported announcement by Minister for Nation-
al Development Lawrence Wong in March the first Build-to-Order exercise this year, and HDB will release the full and updated
that not all ageing HDB flats will undergo the which is slated for launch in February. The set of real estate statistics on Jan 26. — The
Selective En-Bloc Redevelopment Scheme. flats will be located in Tampines, Wood- Edge Singapore
SIA Engineering Co
Vol (’000) Price (S$)
25000 4.00
20000
3.75
15000
3.50
10000
3.25
5000 3.17
0 3.00
Jan 9, 2015 Jan 3, 2018
Source: Bloomberg
used to improve the company’s own oper-
ations, such as optimising the deployment
of manpower.
While robotic arms may not be in the
immediate future for SIAEC, Png does have
a vision for a hangar of the future based on
the company’s existing infrastructure and
capabilities. “You don’t want unmanned
vehicles flying around an airport, so you
can mount multiple cameras on the struc-
ture of the hangars instead,” he muses. Air-
craft inspections can certainly be done by
machines, as in the case of the company’s
3D scanners, but repairs can also be done
by machines.
Whatever the case, while there may not be
a single large-scale, high-tech, high-profile
project that will propel SIAEC onto investors’
radars, there are several smaller projects that
are ongoing and that will yield cumulative
benefits in the longer term.
Indeed, Png is keen that as many initia-
tives as possible are implemented. “There
are a number of things, except that you don’t
really see it in the workplace yet,” he says.
“We don’t have to analyse it and be so sure
that it will work for us. We should just bring
it in and try it out, and we must be prepared
to accept certain failures [during the pro-
cess]. Otherwise, nobody would want to try.
“Whatever we can do, we do so immedi-
HDB will offer about 3,600 new flats in lands, Choa Chu Kang and Geylang. URA
ately. I think, these days, they are calling it
the agile approach.”
Ultimately, as an MRO services provider,
SIAEC’s objective is to help an airline cus-
tomer keep its aircraft flying for as long, and
as reliably, as possible. Png says: “If we get it
right, it’s adding value to customers, which
would then help us secure contracts.”
Expanding joint ventures
For now, a major part of SIAEC’s revenue
still comes from work done in Singapore.
In its FY17 annual report, it notes that rev-
enues from one major customer amounted
to S$476.9 million, or 43% of total turnover
for the year.
Still, what is notable is that the compa-
ny’s share of profits from associated and
joint-venture companies has been expand-
ing steadily, from S$94.2 million in FY16 to
S$96.5 million in FY17. In 1HFY18 ended
September, this grew 16% to S$44 million.
“Working with OEMs (original equipment
manufacturers), in strategic partnerships
and joint ventures, is a strategy we set some
years back and it’s worked out quite well,”
Png says. “The idea is that, together with [an
OEM], we can grow that business better than
what we could on our own.
“The OEM has certain competencies and
a worldwide marketing network, and access
to data and info that we might not have on
our own.”
Among the 26 joint ventures and partner-
ships are the Boeing Asia Pacific Aviation
Services venture, which covers fleet man-
agement, and Heavy Maintenance Singa-
pore Services, a 65% partnership with Airbus
that provides airframe maintenance, cabin
upgrade and modification services for the
A380, A350 and A330 widebody aircraft. Last
October, SIAEC incorporated a joint-venture
company with Moog to provide MRO ser-
vices for Moog-manufactured flight control
systems fitted on new-generation aircraft,
including the A350 and Boeing 787.
These developments bode well for the
company in the longer term, analysts say,
noting that SIAEC is using its strong bal-
ance sheet, as it is in a net cash position, to
FO CU S 17
PHOTO BY SAMUEL ISAAC CHUA/THE EDGE SINGAPORE
start new ventures. “These will significant-
ly enhance SIA Engineering’s capabilities
and competitive advantage, providing new
earnings growth drivers in the longer term,”
notes analyst Corrine.
In addition, the continued growth in air
travel in the region as well as Changi Air-
port’s expansion as an air hub will sustain
demand for line maintenance, or more fre-
quent aircraft checks. Commercial aircraft
movements at Changi, for instance, grew
4.1% between 2015 and 2016. SIAEC han-
dled line maintenance work for 141,454
flights in FY17, about 3,600 more than in
the previous year.
“It’s almost like a volume business,” Png
says. “For each piece of work we do, the value
might be lower, but we just need to do a lot
more of such work. While the content per
aircraft may be lighter, there’s an increase in
the aircraft fleet size worldwide, especially
in Asia-Pacific. So, we need to be able to do
the job quicker, in a shorter frame of time,
and do more.
“If we improve on the turnaround time
for each check, then we can basically gen-
erate additional capacity out of our existing
resources. Then we can sell that capacity and
go out to secure more work.”
The market remains circumspect about
SIAEC’s stock, and analysts who track the
company are estimating earnings for the
next couple of years to be weighed down
by higher expenditure. Phillip Capital has a
“neutral” call on the stock, with a price tar-
get of S$3.35, or a forward price-to-earnings
ratio of 24.6 times. The brokerage forecasts
earnings of S$153 million for FY18 and S$157
million for FY19.
Crucial Perspective’s Corrine is more
bullish, highlighting that SIAEC is likely to
be able to sustain a dividend yield of 4% a
year, given its net cash and free cash flow
positions. She expects the company to post
earnings of S$156 million for FY18 and S$203
million by FY20. Png values SIAEC’s stock
at S$4.50 based on a discounted cash flow,
assuming long-term free cash flow of S$226
million and a weighted average cost of cap-
ital of 5%. — The Edge Singapore
18 W O R L D B U S I N E S S
Juncker seeks bigger EU
budget after Brexit
This is to meet growing needs on defence, migration, climate change, among others
BRUSSELS: European Commis-
sion chief Jean-Claude Juncker on
Monday called for nations to pay
more into the European Union (EU)
budget after 2020 to fill a Brexit void
and meet growing needs on defence,
migration and climate change.
Brussels proposed increasing
contributions from 1% of gross
domestic product (GDP) in the
2014 to 2020 budget to 1.1% of
GDP in the next multi-year budget
Finland’s Fortum
snaps up EON’s
fossil fuels stake
FRANKFURT: German energy
giant EON on Monday said it
had accepted an offer to sell
its remaining stake in fossil fu-
els spin-off Uniper to Finland’s
Fortum.
The voluntary takeover will
see EON sell its 46.65% stake
in Uniper to Fortum for €22
(RM104.06) per share, netting
the German utility company
some €3.76 billion.
The deal was widely expected
after the two groups announced
in September they were close
to an agreement, but is likely to
come in for criticism as Uniper
shares are currently trading at
around €26.
“This transaction enables us
to sell our entire Uniper stake at
an attractive price for EON,” the
German group’s chief executive
officer (CEO) Johannes Teyssen
said in a statement. “EON will
now focus fully on its custom-
ers and core businesses in the
new energy world.”
However, given Uniper’s ris-
ing stock, the Handelsblatt fi-
nancial daily said Teyssen could
expect some “critical questions”
about the deal.
Uniper’s management and
supervisory board members
had earlier urged shareholders
to reject the offer, saying it did
not reflect the company’s “true
value” and offered few strategic
benefits.
Uniper CEO Klaus Schaefer
also told German media last
month that Fortum had not
been clear about its intentions
for the company and its roughly
13,000 employees.
Fortum for its part has said it
would focus on being “an active,
supportive and reliable” share-
holder and partner to Uniper.
Fortum’s takeover offer for-
mally expires on Jan 16. EON
said management board mem-
bers holding Uniper stock pri-
vately would also be tendering
their shares to Fortum. — AFP
following Britain’s departure. The
current budget is set at €963 bil-
lion, or about US$1.1 trillion.
“We need more than 1% of Eu-
ropean GDP, quite clearly, if we are
to pursue European policies and
fund them adequately,” Juncker
told a conference in Brussels.
“It costs the European taxpayer
one cup of coffee a day. Europe
is worth more than one cup of
coffee a day.”
Fiat Chrysler boosted by
Jeep growth expectations
BY AGNIESZKA F LA K
MILAN: Fiat Chrysler (FCA) shares
hit a record high on Monday on
growing expectations that the car-
maker’s coveted Jeep brand will
unlock even greater value this year.
The stock jumped more than
20% last week on a bullish out-
look for the auto sector and me-
dia speculation that chief execu-
tive officer Sergio Marchionne’s
final year at the helm could
prompt strategic deals such as
spin-offs, technology alliances
and disposals.
That investor optimism gath-
ered momentum on Monday, with
the share price gaining another
3% after Morgan Stanley analysts
said Jeep, one of the main pil-
lars of Marchionne’s turnaround
plan and a key profit driver for the
group, could make big strides this
year as a global brand. The Ital-
ian-American carmaker declined
to comment.
Jeep is one of several brands
British shoppers are a shaky economic backstop
BY CAROL RYAN
LONDON: Britain’s shopaholics
are an increasingly shaky econom-
ic backstop. Spending using Visa
cards in 2017 was the weakest in five
years, while profit warnings from
retailers Mothercare and Deben-
hams add to the gloomy outlook.
Despite easing cost inflation and a
tighter job market, customers who
have kept the UK economy moving
are becoming less reliable.
Visa on Monday said consumer
spending using its credit and debit
cards, used for one pound in every
three spent in Britain, fell 0.3% in
2017 compared with a year earli-
er. The data do not provide a full
picture of consumer spending, as
the types of purchases that buyers
Eurosceptic campaigners in
Britain’s June 2016 referendum
called on voters to “take back
control” of British money, argu-
ing that London sent too much
to Brussels and gained little in
return.
Britain will leave the EU in
March 2019 but has agreed to
pay its financial contributions
to the bloc until the current sev-
en-year EU budget period expires
in an FCA portfolio that also in-
cludes luxury Maseratis, sporty
Alfa Romeos and mass-market
Fiats. However, it is the Jeep sport
utility vehicles (SUVs) that Mar-
chionne sees creating a high-mar-
gin brand with global appeal.
“2018 will feature a number of
operational and financial mile-
stones that can accelerate investor
appreciation of the Jeep brand’s
commercial power in a way
that can potentially drive
very positive share price
movements,” Morgan
Stanley analysts said
in their report.
The US broker es-
A filepic of Marchionne at a
conference in the US. Media
speculation that his final
year at the helm of FCA could
prompt strategic deals such
as spin-offs, technology
alliances and disposals.
Photo by Reuters
put on a Visa card may be more
discretionary. Nevertheless, the
figures contain two noteworthy
indicators. Spending in December,
a month when shoppers ought to
be in full flight, was down 1% year-
on-year. It has been five years since
Visa’s data was in the negative in the
run-up to Christmas. Meanwhile,
spending online grew just 2% last
month. A year earlier, e-commerce
was expanding at close to three
times that rate.
Slower online sales remove a
crutch for weaker retailers struggling
with escalating costs and dwindling
footfall in their bricks-and-mortar
stores. Baby products chain Moth-
ercare and department store De-
benhams reported disappointing
sales over the festive period.
WEDN ESDAY JAN UARY 1 0 , 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY
at end-2020.
However, EU Budget Com-
missioner Guenther Oettinger of
Germany said Britain’s departure
would leave a hole of €12 billion to
€13 billion, and backed Juncker’s
call for a bigger share of Europe’s
GDP to go towards the EU.
“I’m not talking about 2% or 3%.
Just 1.1 something. That is what
I’m fighting for,” Oettinger told the
same conference. — AFP
timates that Jeep could make up
nearly 70% of the company’s profit
this year.
FCA has been retooling some
US factories to boost output of
SUVs and trucks while ending pro-
duction of some sedans to boost
profitability in North America, its
biggest market.
The move is slowly paying off
and has put FCA on track
to reach its ambitious
2018 profit targets,
including erasing
all debts and gen-
erating up to €5
billion (RM23.65
billion) in net
cash by the year
end. — Reuters
This is ominous for a UK econo-
my where consumer spending has
been one of the few recent bright
spots. Some headwinds will ease
this year: retailers expect an up-
tick in sourcing costs caused by the
2016 drop in the pound to fade out,
meaning fewer price hikes to pass
on to shoppers.
However, despite a tight job mar-
ket, workers are unlikely to see a real
increase in wages before the year
end, according to the Resolution
Foundation think tank. They could
make up the shortfall by borrowing
even more: UK consumer credit is
still growing at almost 10% a year.
Yet, signs that shoppers are becom-
ing cautious will make tepid eco-
nomic growth forecasts even more
difficult to achieve. — Reuters
IN BRIEF
Swiss central bank eyes
record profit of 54 billion
Swiss francs for 2017
ZURICH: The Swiss central
bank said yesterday it expect-
ed to post a record profit of 54
billion Swiss francs (RM220.3
billion) for 2017, amid gains on
its foreign currency and gold
holdings. The Swiss National
Bank said it had raked in 49
billion Swiss francs in profits
on its foreign-currency posi-
tions alone. The value of its gold
reserves meanwhile grew by
three billion Swiss francs, while
its holdings in Swiss francs
swelled by two billion Swiss
francs, it said in a statement.
The overall expected profit is
more than double the 24.5 bil-
lion Swiss francs made by the
bank in 2016, and it comes just
two years after the bank post-
ed a loss of 23.3 billion Swiss
francs. — AFP
VW names Skoda UK
executive to head US
sales as deliveries fall
DETROIT: Volkswagen AG (VW)
on Monday named a UK-based
executive of Czech subsidiary
Skoda to replace its former head
of US sales Ron Stach, whose de-
parture was announced at the
weekend, as the German auto-
maker’s deliveries have plunged
in the world’s second-largest
auto market. Duncan Movas-
saghi will start on the job on Feb
1, VW said in a statement. He has
been serving as Skoda UK man-
aging director with full respon-
sibility for the brand in the UK.
VW said last Wednesday its US
sales rose 5.2% to 339,676 brand
models last year but plunged
19% in December after posting
their first monthly drop in 2017
in November. — Reuters
Cheese is the beef as
EU-Mexico trade
talks resume
MEXICO CITY: The Europe-
an Union (EU) and Mexico re-
sumed talks on Monday aimed
at sealing a new version of their
18-year-old trade deal, a pro-
ject that has hit several snags,
including the touchy issue of
cheese. Mexico, which sends
some 80% of its exports to the
US, is keen to diversify its trad-
ing partners because of US Pres-
ident Donald Trump’s threats to
pull out of the North American
Free Trade Agreement (Nafta).
It had been making fast progress
on modernising its 2,000 trade
deals with the EU. — AFP
Vauxhall carmaker to
cut 250 more UK jobs
LONDON: French-owned
Vauxhall said on Monday it
will axe 250 jobs on top of the
400 already planned at a car
factory in England. UK brand
Vauxhall, bought by PSA, the
maker of Peugeot and Citroen
vehicles, said more jobs would
go at the Ellesmere Port fac-
tory in northwest England. A
Vauxhall statement said the job
cuts “will support the ... move
to a single production shift at
Ellesmere” in April, where the
Astra model is made. — AFP
WED N ES DAY JA N UA RY 1 0 , 20 1 8 • T HEED G E FINA NCIA L DA ILY
Ethics watchdog
clears Canada
finance minister
of insider trading
OTTAWA: Canada’s ethics
watchdog on Monday cleared
Finance Minister Bill Morneau
of accusations that he illegally
profited from his own tax poli-
cies when he sold shares in his
family business.
Opposition parties had asked
parliament’s independent ethics
commissioner, Mary Dawson, to
probe the sale of shares in Mor-
neau Shepell in late 2015, days
before a major tax announce-
ment that sent the company’s
stock price spiralling downward.
In a letter to Morneau seen
by AFP, Dawson said: “I am of
the view that [Morneau] did
not benefit from insider infor-
mation.”
She noted that the increase
in income taxes on the country’s
highest earners that precipitated
the share sell-off had been part
of the ruling Liberals’ election
platform and was also touted
in the media a month prior to
Morneau dumping his shares,
which were worth millions of
dollars.
In a separate review, Daw-
son also cleared Morneau of
allegations that he pressed the
Bank of Canada to renew its
contract with Morneau Shep-
pell to manage its employee
pensions last year.
“I am satisfied that, as min-
ister of finance, you had no in-
volvement in the Bank of Can-
ada’s decision of the renewal of
the Morneau Shepell Inc con-
tract,” she said.
In the last months of 2017,
Morneau was a drag on his Lib-
eral party’s popularity, which
started with a backlash over
proposed changes to Canada’s
small-business-tax regime.
Almost daily attacks from
opposition benches ensued
over his failure to disclose his
full holdings to the ethics com-
missioner after he took office,
including a villa in southern
France.
Morneau defended his ac-
tions as simple administrative
failures.
It all came to a boiling point
at the end of November when
Morneau was accused of in-
sider trading, which he angrily
rejected. — AFP
Airbus to boost China output as it nears jet deal
BY T I M H EPH ER
PARIS: Airbus is set to boost pro-
duction of narrow-body jets in
China as it nears a new multi-
billion-dollar deal to supply the
world’s fastest-growing aviation
market during a visit by French
President Emmanuel Macron, in-
dustry sources said.
The deal is expected to be un-
veiled together with a package of
agreements coinciding with the
French leader’s visit, and could in-
‘Alibaba will seriously
consider HK listing’
This could provide a powerful boost to the financial hub
BY BR ENDA GOH
& JENNIFER HUGHES
SHANGHAI/HONG KONG: Alibaba
Group Holding Ltd will “serious-
ly consider” listing in Hong Kong,
founder Jack Ma said, potentially
providing a powerful boost to the
financial hub which is preparing to
allow dual-class share listings.
Ma made the comments at an
event in the city on Monday in re-
sponse to remarks made by Hong
Kong Chief Executive Carrie Lam
about how she hoped Alibaba would
consider returning to Hong Kong to
list, an Alibaba spokesperson said.
“Daring to speak like this marks
a strong commitment so we will
definitely seriously consider the
Hong Kong market,” Ma said in
response to Lam’s speech.
POLE-DANCING ROBOTS ... Robots performing pole dancing at the Sapphire Gentlemen’s Club on the sidelines of
the Consumer Electronics Show 2018 in Las Vegas, the US on Monday. The pole-dancing robots are the creation of British artist Giles
Walker, who said he designed the vaguely humanoid machines as an expression about surveillance, power and voyeurism. However,
no one would confuse the robots with real strippers, with a head made from a jettisoned surveillance camera and the rest from bits of
scrap material from mannequins and car parts. Photo by AFP
clude orders for around 100 jetlin-
ers, they added.
The final number of jets to be
sold has not been determined. Chi-
na is also said to be shopping for
larger jets like the A330.
Airbus declined comment on
Monday.
Airbus and its US rival Boeing
compete for large-scale orders in
China and such package deals are
typically rolled out during major
diplomatic events, but not without
last-minute negotiations on the
The Alibaba spokesperson said
there were no further details avail-
able.
Alibaba held its record US$25
billion public float in New York in
2014 after Hong Kong, its favoured
venue, refused to accept its govern-
ance structure where a self-selecting
group of senior managers controls
the majority of board appointments.
Hong Kong is now set to allow
dual-class shares under rule chang-
es to be proposed by the city’s stock
exchange as it raises the stakes in its
battle against New York for block-
buster Chinese initial public offer-
ings. Such shares grant differentiat-
ed voting rights and underpin the
alternative governance and share-
holding structures favoured by many
owners of new-age industries such
as technology.
quantity and price of jets.
Boeing announced a deal for
300 aircraft during a visit to Chi-
na by President Donald Trump in
November.
About one in every four planes
that Airbus produces is delivered
to China, but fewer than 8% are as-
sembled at its Tianjin facility outside
Beijing — one of four A320 assem-
bly plants including two in Europe
and one in the US.
Airbus is likely as part of any
new airplane order to agree to lift
W O R L D B U S I N E S S 19
Over US$3 billion (RM12.03 bil-
lion) worth of Alibaba shares were
traded on Monday, based on Reuters
calculations using Nasdaq data. The
stock closed at US$190.33, with 16.23
million shares traded.
That compares with the Hong
Kong Exchanges and Clearing
Ltd’s (HKEX) average daily secu-
rities turnover of HK$88.2 billion
(RM45.2 billion) in 2017.
Shares in HKEX, the city’s ex-
change operator, rose as much as
3.1% to HK$270 yesterday, their high-
est level since July 2015.
Analysts said that an Alibaba list-
ing in Hong Kong could help drive
more funds from the mainland to-
wards the city and could convince
other big firms, in particular tech-
nology-related ones, to list in the
financial hub. — Reuters
the number of aircraft assembled
in Tianjin from the current level of
around 50 a year, the sources said.
The European plane-maker is
not, however, expected to announce
a breakthrough in Chinese support
for the 544-seat A380 super-jum-
bo, whose future is threatened by
poor sales.
The Financial Times reported
earlier that Airbus was offering
an industrial partnership on the
world’s largest airliner as part of
Macron’s visit to China. — Reuters
IN BRIEF
Toyota brings the store
to you with self-driving
concept vehicle
LAS VEGAS: Self-driving buses
are not new, but Toyota’s con-
cept vehicle unveiled on Mon-
day aims to be more than just
that — a mobile platform for
e-commerce, ride-sharing and
medical services, for a start.
The Japanese auto giant’s pres-
ident Akio Toyoda unveiled the
new initiative at the Consumer
Electronics Show in Las Vegas,
seeking to get ahead of rivals of-
fering single-use autonomous
transporters. The “e-Palette”
vehicle platform features a boxy
electric-powered minibus de-
signed to handle deliveries or
even bring retail services to
consumers, but can also be
used for ride-sharing and other
purposes. — AFP
Singapore holds 17 men,
seizes tanker over alleged
Shell oil theft
SINGAPORE: Singaporean au-
thorities have arrested 17 men
for allegedly stealing fuel from a
major Shell refinery, and seized
an oil tanker and millions of
dollars in cash, police said.
The suspects, aged between
30 and 63, were detained in
raids across Singapore on Sun-
day after the Anglo-Dutch en-
ergy giant first alerted police in
August. Several of the suspects
were Shell employees. A total of
S$3.05 million (RM9.2 million)
in cash was recovered along
with a 12,000-tonne tanker.
The suspects’ bank accounts
have also been frozen, police
added. — AFP
Wal-Mart accused of
deceiving buyers of
organic eggs in lawsuit
CHICAGO: Wal-Mart Stores
Inc misled US shoppers by sell-
ing organic eggs laid by hens
raised in enclosed structures
under package labels that said
the birds had access to the out-
doors, a federal lawsuit alleged
on Monday. Wal-Mart sells car-
tons of eggs to shoppers at a pre-
mium under its Organic Mar-
ketside brand with labels saying
the eggs came from hens with
“outdoor access”, according to
the lawsuit filed by a customer.
However, the birds were raised
by Cal-Maine Foods Inc inside
enclosed structures that have
screens to let in air, the com-
plaint said. — Reuters
Hyundai bets on
hydrogen-fuel-cell car
LAS VEGAS: Hyundai unveiled
on Monday a hydrogen-fu-
el-cell-powered vehicle aimed
at showcasing its newest tech-
nologies. The South Korean
manufacturer used the 201
Consumer Electronics Show
to debut its Nexo, a sport utility
vehicle that uses voice com-
mands, artificial intelligence,
and can be transformed into
an autonomous car. Hyundai
said it planned to sell the Nexo
in California later this year, in a
bet on hydrogen even as many
rivals turn to battery power.
— AFP
20 WORLD
May’s cabinet reshuffle
marred by resignation
The exercise is branded ineffectual and shambolic
BY A L I C E RI TC H I E
LONDON: British Prime Minister
Theresa May’s long-awaited gov-
ernment reshuffle on Monday was
branded ineffectual and shambolic
after she promoted few fresh faces to
her top team and a minister resigned
rather than accept a new post.
Education Secretary Justine
Greening became the fourth min-
ister to leave the cabinet since No-
Macron wins
Chinese fans
with Mandarin
lesson
BEIJING: A behind-the-scenes
video of French President Em-
manuel Macron wrestling with
the Mandarin pronunciation
of his climate change slogan
“Make our planet great again”
has delighted Chinese social
media.
The candid footage shows
Macron sneezing and wonder-
ing when to breathe as he dili-
gently repeats the phrase after
his instructor, while a woman
touches up his make-up and
two bemused men in military
garb look on.
Macron was able to show
off his new skills in a keynote
speech on the future of Si-
no-French relations during a
stop on Monday in the north-
ern city of Xian, the starting
point of the ancient Silk Road.
But it was the video of him
learning the Chinese version
of the expression — a tongue-
in-cheek jab at US President
Donald Trump’s “Make Amer-
ica Great” campaign slogan —
that endeared him to Chinese
social media users.
“Rang,” Macron says in the
clip that was posted on Twitter
late on Monday.
“It’s like ‘Jean’, then,” he says,
referring to a French first name
that sounds like the pronuncia-
tion of the Chinese word “rang”.
Determined to properly ex-
ecute Mandarin’s notoriously
difficult tones, the president
asks: “So where am I supposed
to breathe?”
Enunciating the phrase, he
says: “Rang diqiu zaici wei-
da” — Make the planet great
again.
Macron, who speaks fluent
English, was applauded for his
efforts on China’s Twitter-like
Weibo platform yesterday. —
AFP
vember, after resisting a request to
move to the welfare and pensions
ministry.
Meanwhile Health Minister Jer-
emy Hunt convinced May at the
last minute to scrap plans to move
him to the business department,
according to media reports.
Most of her senior ministers also
kept their jobs in the reshuffle, in-
cluding Foreign Secretary Boris
Johnson, Brexit Minister David Da-
Mueller’s team, lawyers discuss
possible Trump interview — report
BY M AR K HOSENBALL
& KAREN F REIF ELD
WASHINGTON: Preliminary discus-
sions are under way for Special Coun-
sel Robert Mueller to potentially in-
terview US President Donald Trump
as part of the probe of alleged Russian
interference in the 2016 election, NBC
News reported on Monday.
Citing three people familiar with
the situation, NBC said lawyers for
Trump had met with representa-
tives of Mueller’s office in late De-
cember to talk about the logistics
of any such interview.
The discussions included the pos-
sible location and length of any inter-
China races to prevent environmental
disaster from stricken tanker
BEIJING: China raced to contain oil
leaking from an Iranian tanker strick-
en off its eastern coast yesterday amid
warnings the burning ship could
spark an environmental disaster.
The Sanchi was carrying 136,000
tonnes of light crude oil when it col-
lided with a cargo ship on Saturday
and erupted into flames 160 nautical
miles (296.32km) east of Shanghai.
If all the cargo from the tanker
spills, it would be the biggest oil
slick from a ship in decades and
could kill marine life across a vast
area, analysts have said.
The transport ministry said the
vessel was still burning yesterday.
“If the ship sinks before the oil burns
off, the clean-up procedure would be
extremely difficult. What is important
now is to understand how much of that
oil has burned off, and how much is
leaking into the sea,” Greenpeace East
Asia said in a statement to AFP.
The Chinese foreign ministry
said late on Monday that clean-
ing ships had been sent to prevent yesterday for 31 missing crew mem- search within 900 square nautical
“secondary disasters”.
Authorities widened the search sels “carrying out an uninterrupted port ministry said. — AFP
vis and Finance Minister Philip
Hammond.
The prime minister carried out
what her office called a “refresh” of
the government after sacking her
deputy Damian Green last month
in a row over pornography found
on his computer in 2008.
His departure followed those
of the defence and aid ministers
in unrelated scandals in the pre-
vious month.
view as well as legal standards and
options for its format, including writ-
ten responses instead of a formal sit-
down, according to the news network.
Mueller, under the Department
of Justice, is investigating allega-
tions of Russian meddling in the US
presidential election and possible
collusion by Trump’s campaign.
US intelligence agencies have
concluded that Russia interfered
in the election to try to help Trump
win. Russia has denied any med-
dling, and Trump has said there
was no collusion.
Democratic US Senator Richard
Blumenthal told MSNBC News on
Monday that he expected Mueller
bers, with 13 search-and-rescue ves- miles” of the tanker, China’s trans-
WEDN ESDAY JAN UARY 1 0 , 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY
May hoped the shake-up would
help her reassert authority ahead
of crunch Brexit negotiations this
year, and following a torrid 2017
in which she lost her parliamen-
tary majority in a snap election
last summer.
An interim deal on Brexit in
December appeared to give her
new impetus, and the much-an-
ticipated reshuffle was arranged.
— AFP
would try to talk to the president
in person.
“He will interview the president
face-to-face is my prediction,” said
Blumenthal, a member of the Senate
Judiciary Committee, which is con-
ducting its own Russia investigation.
Mueller’s probe so far has led to
two Trump associates, former Na-
tional Security Adviser Michael Flynn
and campaign aide George Papado-
poulos, pleading guilty to lying to FBI
agents in the investigation.
Two others, Trump’s former
campaign manager Paul Manafort
and his associate Richard Gates,
have also been indicted but have
pleaded not guilty. — Reuters
IN BRIEF
French mayor scraps
pork-free school meals
BEAUCAIRE (France): A far
right local authority in southern
France on Monday scrapped
pork-free school meals, a move
branded “anti-Muslim” or “an-
ti-Jewish” by an equality minis-
ter. Julien Sanchez, the National
Front mayor of Beaucaire, a
town south of Avignon, abol-
ished the scheme, brought in
by his predecessor, on the first
day of the new school term.
The step affects around 150 —
mainly Muslim — pupils who
take the “substitution meals”
out of local 600 students in
total. Marlene Schiappa, the
minister for sexual equality told
BFM TV the decision was “a
typical example of someone
brandishing secularism as an
anti-Muslim political weap-
on, or anti-Jewish for that mat-
ter”. In a newspaper article an-
nouncing the policy change in
December, Sanchez said the
pork-free meals were “anti-Re-
publican”. The opposition lead-
er in Beaucaire, Laure Cordelet,
called it “an attack on the rights
of children” which “stigmatises
the Maghreb (north African)
community and can in no way
be justified in the name of sec-
ularism”. — AFP
Europe, Iran to discuss
nuclear deal tomorrow
BRUXELLES (Belgium): The
European Union (EU) has
called Iranian Foreign Min-
ister Mohammad Javad Zarif
to talks in Brussels tomor-
row with his French, British
and German counterparts in
efforts to preserve the hard-
fought deal to curb Tehran’s
nuclear ambitions, the EU said
in a statement. The meeting
between Zarif and the three
European parties to the land-
mark 2015 agreement comes
after Iran warned the world
on Monday to prepare for the
withdrawal of the US. — AFP
Pro-democracy leaders
in Hong Kong court
HONG KONG: Founders of
Hong Kong’s pro-democracy
movement that sparked mass
rallies in 2014 appeared in
court yesterday. The nine de-
fendants face public nuisance
charges related to the Umbrel-
la Movement demonstrations,
which shut down several ma-
jor roads in the semi-autono-
mous Chinese city for 79 days.
Hong Kong’s government has
brought a raft of protest-relat-
ed cases against democracy
campaigners in the past few
months. — AFP
US police killed 987
people in 2017 — report
WASHINGTON: Police officers
shot and killed nearly 1,000
people in the US in 2017, slight-
ly more than the previous year,
according to a tally published
on Monday by The Washing-
ton Post. A total of 987 people
were fatally shot by US police
last year, up from 963 in 2016
and down from 995 in 2015,
the Post said. — AFP
WED N ES DAY JA N UA RY 1 0 , 20 1 8 • T HEED G E FINA NCIA L DA ILY
Samsung ends 2017 on worrisome note
Falling memory chip prices are making investors anxious, hint at a tougher 2018
BY RO BY N M A K
S
amsung Electronics is
ending its stellar year
on a slightly worrisome
note. Forecast quarter-
ly sales and operating
profit from South Korea’s
US$327 billion (RM1.31 trillion)
technology behemoth, while still
strong, fell short of expectations.
Falling memory chip prices are
making investors anxious, and hint
at a tougher 2018.
Yesterday, the smartphone-
to-chip maker said it expects
fourth-quarter operating profit of
15.1 trillion won (RM60 billion).
That’s up a blistering 64% from a
year earlier, and will probably set a
new quarterly record for the South
Korean group. However, the fig-
ure comes 5% shy of what analysts
Agriculture biotechnology vital to Malaysia’s food security
BY K K C H E T TI A R
ADVANCES in agricultural science
and technology, especially biotech-
nology, have contributed remarkably
towards increasing food production
since the mid-20th century. Global
agriculture has grown nearly threefold
over the last 50 years, in keeping pace
with population growth. Although this
ensured that enough calories are pro-
duced per capita, at least 795 million
people are still going to bed hungry
every night, according to United Na-
tions Food and Agriculture Organi-
zation estimates. Hunger and malnu-
trition affect every aspect of human
development, and persist for various
reasons, including accessibility to ar-
able land, affordable and nutritious
food, as well as other productive re-
sources, including technology.
Agricultural production needs
to increase to address this unequal
access to food and resources, and to
meet a growing world population’s
needs. It is estimated that agriculture
needs to grow nearly 70% global-
ly, and at least 100% in developing
countries by 2050, to keep pace with
population growth and shifting diets.
Challenge
Therefore, the challenge is to increase
production of nutrient-rich safe foods,
and prevent degradation of resources,
at the same time through developing
technologies that smallholders, espe-
cially those with limited resources,
can access, afford and adopt.
Over 12% or approximately 1.6
billion hectares of the world’s land
area is used for agriculture, and land
degradation has been the major cause
for the loss of the land’s productivity,
globally. Water management is anoth-
er major challenge, where 70% of all
water taken from aquifers, streams,
rivers and lakes are used for agricul-
ture. As such, to meet demand, effi-
cient water usage systems, such as the
technologically advanced drip irriga-
tion and fertigation which accounts
polled by Thomson Reuters expect-
ed, and forecast sales disappointed
too. By mid-morning Seoul time,
Samsung shares were down 2%,
underperforming the benchmark
Kospi index.
Samsung will disclose detailed
results later in the month, but an
appreciating currency and year-
end bonuses probably weighed on
performance. The former’s impact is
particularly acute for a major export-
er like Samsung. The won strength-
ened 12% against the US dollar in
2017; on Monday, it touched a three-
year high against the greenback.
To be sure, global dominance in
memory chips has lifted the scan-
dal-hit company’s fortunes: Sam-
sung is on track for record full-year
earnings in 2017, even as execu-
tives try to recover from a leader-
ship crisis. Smartphones and data
for at least a 40% increase in global
food production, need to be used.
Agriculture biotechnology has
made key contributions through ad-
vances in plant breeding such as de-
veloping improved varieties, synthet-
ic and bio-pesticides, synthetic and
bio-fertilisers, and mechanisation
of farming practices along the pro-
duction chain — from “field to fork”.
Further, molecular genetics, specifi-
cally recombinant nucleic acid tech-
nologies, including marker-assisted
selection breeding, have developed
pest-resistant high yielding varieties,
with major impacts on food safety and
costs of production from reduced us-
age of harmful and harmful pesticides.
Malaysia
Agriculture is an important sector to
Malaysia’s economy, with commer-
cial crops such as palm oil, cocoa and
rubber being the main agricultural
exports, contributing nearly 12% of
the nation’s gross national product. If
we include these commercial [com-
modity] crops, Malaysia would be
considered a net agricultural exporter.
However, if we do not, we are a net
importer, with food imports exceed-
ing RM35 billion annually, and over-
all agricultural imports — including
feed, feed ingredients, feed additives,
animal healthcare products, fertiliser
and other agro-chemical products
— exceeding RM75 billion annually.
Hence, an urgent need to formu-
late strategic policies, including those
involving science and technology
as well as funding, and regulate im-
portation to encourage the adoption
and usage of Malaysian produce.
Also, and most importantly, funding
mechanisms for research and devel-
opment (R&D) needs an overhaul to
encourage the R&D communities in
the country to consolidate their ef-
forts, and to work as teams, towards
addressing industry-related issues
with direct impact on the country’s
economy and the people’s well-being.
Here are some examples of indus-
The Samsung booth on the exhibit hall floor during the Money 20/20 conference in Las pointing results guidance, Samsung
Vegas, the US. Photo by Reuters
servers used for cloud computing of the world’s data is produced and below their two-year average of 8.8
and artificial intelligence require saved using the company’s prod- times, according to Eikon. Investors
more storage. A top Samsung ex- ucts, according to South Korea’s are bracing for more uncertainty.
ecutive recently boasted that 70% Pulse News.
try-specific issues with great impact
on the country’s economy, which re-
quire strategic and consolidated effort
by local R&D centres. The devastating
disease outbreak in papaya is on the
verge of completely wiping off our
papaya industry, once export-ori-
ented. Similarly, banana cultivation
in Peninsular Malaysia has almost
become a shifting cultivation, due to
the built-up of disease in areas with
over three years of banana cultivation.
With scientific advancements, espe-
cially in biotechnology and plant sci-
ence, we could, if we put together our
[limited] resources and expertise, find
solutions for these key issues faced
by these struggling industries, which
directly impact our economy and our
farming communities’ well-being.
Support towards industry
development
The Malaysian Bioeconomy Devel-
opment Corp’s (or formally known
as the Malaysian Biotechnology
Corp) provides support towards
industry development, especially
through its BioNexus programme,
vital towards developing the coun-
try’s bio-based economy, be it in the
AgBiotech, BioMedical or BioIn-
dustrial sectors. This effort needs
to be complemented with strategic
policy support, including funding
allocation and policies, to address
industry-relevant bottlenecks.
As a case study, if we were to con-
sider the development of Malaysia’s
and Korea’s livestock industry, started
about 30 plus years ago, we would now
be considered to be at least 30 years
behind South Korea. We are current-
ly about 20% self-sufficient with over
80% of our beef being imported, and
almost 95% reliant on imported dairy
products (or estimated at 1,000 mil-
lion litres annually). So, how would
we improve this situation? We need
a long-term strategic plan, where,
we need to firstly control imports, to
encourage better market potential
for locally-produced beef and dairy.
Then, we would need to consolidate
our R&D efforts such as programmes,
funding and expertise, towards im-
proving our animals’ genetics — be it
cattle or goat; the development of feed,
feed ingredients and feed additives;
as well as processing technologies.
Another case in point: our vege-
table production. Over 60% of Ma-
laysia’s vegetables are produced in
Cameron Highlands, however the
production, quality and safety of
some, if not all of these produce
can still be improved through using
technology, especially plant biotech-
nology. By adopting appropriate
technology, production efficien-
cies per unit area can be increased
further to at least three to fivefold.
This would reduce the need to open
up new areas for crop production,
to meet ever-increasing demand.
Infancy stage
Biotechnology is probably the most
valuable technological support, es-
pecially for crop production, where
using bio-fertiliser and bio-pesticides
will ensure the safety of vegetables
meant for human consumption. We,
as a nation, are still at an infancy
stage in the development and adop-
tion of these technologies. Even our
agriculture (fertiliser and pesticide)
subsidies do not include bio-fertiliser
and/or bio-pesticides.
By formulating and implement-
ing strategic policies — where, to
start, at least 30% of all subsidies
to farmers would include bio-fer-
tilisers and bio-pesticides — would
not only show we care for our food
safety, but also encourage the de-
velopment of the bio-fertiliser and
bio-pesticide industries, in support
of sustainable farming activities.
Malaysia’s aquaculture industry,
though not as extensive as our neigh-
bours’ (Thailand and Indonesia), is
nevertheless export-oriented, con-
tributing significantly to our econ-
omy. However, our aquaculture in-
dustry was previously severely limited
F E AT U R E 2 1
Yet, warnings of a potential cy-
clical downturn are growing. De-
mand for smartphones is cooling,
and supply is expected to increase
as competitors such as SK Hynix
and Western Digital catch up. Prices
for so-called Nand flash memory
chips, which Morgan Stanley an-
alysts estimate account for over
a fifth of 2017 operating profit at
Samsung, have started to fall. On
Nov 27, they cut their recommen-
dation on the company on concerns
of falling prices, and sent Samsung
shares down 5%.
Even before yesterday’s disap-
shares were trading at just over
seven times forward earnings, well
— Reuters
by the lack of breeding technologies
for the supply of quality fry and fin-
gerlings, to the extent that we were
over 95% reliant on imported fry and
fingerlings. This has changed with
strategic focus on R&D, including
biotechnology, in developing breed-
ing technologies for high-value fish
and shrimp species on a commer-
cial scale.
But we are far from being 100%
self-sufficient in fry and fingerling
production — a clear example of the
need for strategic planning to devel-
op our aquaculture industry using
agriculture biotechnology, which
directly impacts the industry and our
economy. The aquaculture industry
has other setbacks as well, mainly in
managing disease outbreak, requiring
strategic R&D programmes to address
them. For example, the white spot (vi-
ral) and the early mortality syndrome
are two major diseases crippling the
country’s shrimp industry, and there
is no cure to date. Any remedy for
these diseases will directly impact
the industry and the economy, es-
pecially since Malaysia is one of the
largest shrimp exporters to the US.
Moving forward
As a nation rich in diversity, talent and
resources, we must formulate strategic
policies, including allocating resources
such as funding and consolidate ex-
pertise, to execute industry-relevant
R&D projects, with direct impact on
the country’s bio-based industries and
the economy. The funding of R&D pro-
jects should also be critically reviewed
to ensure continuity and relevance to
industry — especially its impact on the
economy, employment, and benefits
to local communities.
K K Chettiar is a plant scientist and
biotechnologist, with over 30 years
of experience in agricultural and
plant science, including teaching.
He has work experience in the pri-
vate and public sectors.
22
live it!
WELLBEING . THE ARTS . WINE+DINE . STYLE+DESIGN . LEISURE
Personal
ASSISTANT
CO M PI L ED BY CL A RI ECE LEONG
WORK. LIFE. BALANCE
GIVE yourself a
pat on the back
and for surviving
the week so far,
and celebrate with
a cocktail or two at
Ril’s Bar. The mid-
week treat com-
prises free sliders
with any drink, be
it featured classic
cocktails at RM30,
house red or white
wine at RM25, or
Beefeater gin
and tonic at RM20. Indulge yourself every
Wednesday from 9pm to midnight at Ril’s Bar,
which is located on Jalan Telawi 5, Bangsar
Baru, Kuala Lumpur. For more information,
call (03) 2201 3846 or visit www.rils.com.my.
GET a triple dose of music therapy with a
line-up of three different musical acts tonight
at The Gaslight KL. PA Hafiz from the band
Speakzodiac kicks off the night with a round
of rock tunes, followed by folk singer-song-
writer Sounds of Kites, harmonising his deep
vocals to the raw melodies of his trusty guitar.
The show concludes with a folk rock number
by Gaslight regular Momin Deen. The show
takes place from 9pm to 11pm tonight at The
Gaslight KL, in Plaza Damansara, Jalan Med-
an Setia 1, Bukit Damansara, Kuala Lumpur.
Admission is priced at RM20, and patrons
are entitled to one complimentary drink.
For more information, call (017) 858 6399
or email sydjohann@gmail.com.
WATCH the new movie The Commuter. Head-
ing home on the train after a day of work,
insurance salesman Michael is approached
by a stranger out of the blue. He is then
presented with a mysterious task — uncover
the identity of an elusive passenger aboard
the train, and do so before the last stop. Yet
things are larger than they appear, and as
a sinister criminal conspiracy unfolds with
potentially deadly consequences for all pas-
sengers on board, Michael battles against
time in his apparent wild goose chase of an
investigation. The movie stars Liam Neeson,
Vera Farmiga, Sam Neill, and Patrick Wilson.
For details of ticketing and show times, visit
www.gsc.com.my.
WEDN ESDAY JAN UARY 1 0 , 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY
Winemakers at the Chapel Down Winery in Tenterden, Kent, lift a 15-litre Nebuchadnezzar bottle, the largest bottle of English Sparkling Wine ever to be
made. Photo by PA Images
SEVEN WAYS THE WINE WORLD
WILL CHANGE IN 2018
The robots are coming! first-growth Château Haut Brion) recently
launched an online retail site dedicated
England is already there; and I’ve been
impressed by new avant-garde wines
The robots are coming! to sourcing and selling large formats of
everything from Beaujolais to champagne
from cool areas of Australia and Chile.
However, I’m predicting we are about
and whisky. A Balthazar (16 bottles) of theto rediscover Spain. Popular culture ev-
BY E LI N M CCOY polished, syrah-based 2014 Domaine de idence? Rachel Lindsay, romance reali-
M
Montcalmès from the Languedoc is €479 ty TV series The Bachelorette’s star, took
ost of the wine world (RM2,266); for €15,600, you can have a her final suitors to “romantic” Rioja last
was happy to wave Salmanazar (12 bottles) of the truly fab- summer for a wine-tasting in old caves,
goodbye to 2017, a year ulous 2005 Château Haut Brion. grape stomping, and a helicopter tour
of vine-killing frosts, However, don’t think too big: the out- of vineyards.
hail, drought and de- landish Melchizedek of Champagne, the Seriously, though, a new generation
structive wildfires in equivalent of 40 bottles of fizz, has been of vignerons is bringing change to every
regions from California, to Chile, to Eu- known to spontaneously explode. region there, including classic Rioja, and
rope. The year 2018 is not only a relief; creating reds and whites from such places
it’s exciting, because it is full of promise, The year’s hotspot will be Spain as Ribeira Sacra and the Gredos moun-
with new experimentation, exploration, So many regions are poised for attention; tains with character and quality at bar-
and the continuing of trends that we en- it’s hard to single out only one. The Re- gain prices.
joyed from last year. public of Georgia has captured the nat-
The rosé juggernaut, for example, ural wine crowd’s hearts; Madeira is on Climate change is heating up
keeps crushing it. With US sales up 57% the verge of a moment; Croatia beckons; Climate change is affecting so much: The
in dollars, our must-drink-pink obsession
continues and is even fuelling interest in
rosé cider and pink gin. Also, thanks to
adventurous younger drinkers thirsty for
novelty and affordability, enthusiasm for
obscure native grapes, especially from
Italy, is still growing fast. Here’s what I
see in my crystal glass for 2018.
Big bottles will be huge
The popularity of wine in magnums —
the equivalent of a double bottle — and
other large formats seems to track the
stock market; when stocks are up, so is
big bottle demand. In the UK, wine re-
tailer Majestic reported a 378% increase
in sales of affordable supersize bottles
last year, at its 200-plus stores.
The trend started with oversize bottles
of rosé poured in Saint-Tropez, France,
and in 2017, Aldi supermarkets launched
inexpensive jeroboams (four bottles) of
prosecco in the UK for Christmas.
For those craving luxury wines, Do-
maine Clarence Dillon (which includes Vineyards in Rioja, in Basque Country, Spain. Photo by The Image Bank
 live it! 23
WED N E S DAY JA N UA RY 1 0 , 20 1 8 • T HEED G E FINA NCIA L DA ILY

WELLBEING . THE ARTS . WINE+DINE . STYLE+DESIGN . LEISURE

Rising temperatures drastically rejiggering wine geography

fear of it has encouraged winemakers to
adopt better eco-vino vineyard practices and
experiment with new grape varieties. Rising
temperatures are also drastically rejiggering
wine geography. The steady warming of Ja-
pan’s northernmost island of Hokkaido, for
example, may turn the area into a new source
of top pinot noir. Until recently, farmers had
little luck growing the grape. Now there are 33
wineries, and more are on the way. Even the
state of Maine is hosting a class this month
for farmers wanting to grow wine grapes. Is
Newfoundland next?
You’ll be buying more wine online
Despite its convenience and choices, on-
line wine shopping in the US lags way
behind China. However, expect a boost
in 2018. Primary barriers to growth have
been the high cost of shipping and the US’
complicated alcohol regulations. Consum-
ers in 44 states can have wine from any US
wineries delivered directly to their doors,
but only those in about 14 states can have
wine purchases shipped directly from out-
of-state retailers, meaning they can’t buy
many imported wines.
Enter Heini Zachariassen, wine app
Vivino founder and chief executive officer.
In December, he launched Vivino Premi-
um, aiming to be the Amazon Prime for
wine. A US$47 (RM188.47) annual mem-
bership fee gives you free shipping for D’Arenberg Cube. Photo by D’Arenberg
an amazing selection of wines, even
first growths, shipped legally because
Vivino partners with a network of local Zealand. I will be excited to visit the re- first-growth Château Latour still relies on
wine shops. A one-month free trial is cently opened giant glass Cube in an retro vineyard horses.)
even available. Australian vineyard billed as an Alternate Another example of wine artificial
JD.com, China’s second-biggest Realities Museum. intelligence (AI) is the VineScout, to
e-commerce company, plans to capture Naturally, Napa is all-in on the idea. be used in Portugal at Symington Fam-
luxury online wine shoppers there with A handful of swanky reservation-please ily Estates’ vineyards during the 2018
ultra-premium delivery service. Couriers salons with comfortable leather sofas, season to check vine vitals, such as leaf
wearing suits and white gloves had been chandeliers, art-to-buy on the walls, and temperatures. Basic models at US$12,000
delivering watches and jewellery; the playlists of oh-so-hip music opened in to US$15,000 are scheduled to go com-
expansion to wine started last month. downtown Napa last year. The top spots mercial in 2019. A home-grown AI even
so far are Brown Estate, Acumen, Black- saved US$10 million worth of wine dur-
The fizz sector will keep broadening bird, and Ackerman’s Aviary. ing Napa’s October fires.
Bubbly is still bursting old boundaries, as
I predicted last year, and prosecco is still The rise of robots in the poshest Questions remain
grabbing buzz. Because of a poor harvest, vineyards I have questions for 2018: Now that canna-
prices will go up. Look for France’s well- Wine app Vivino. Photo by Vivino When the Rothschild family of Château bis is legal in California, will wine drinkers
priced crémants from Alsace, Burgundy, Mouton-Rothschild and Château Clerc ditch pinot for pot? Will Amazon’s Alexa
Bordeaux, the Loire, and the Jura to make Milon invests in bespoke robots to remove become the new wine recommendation
a splash this year. The ‘luxury experience’ way to taste weeds from vineyards, you know the idea guru? When will the #MeToo movement
The latest luxury sparkler is the new wine is about to hit a tipping point. hit the wine industry? Will Sydney, Aus-
upscale Spanish Cava. Major champagne The crowded winery-tasting room is now In June, the company teamed up with tralia, really become the world’s largest
houses are pushing more single-vineyard totally passé. The new way to sample vino Naio Technologies in an experiment at urban vineyard?
bottles and fabulous extra-aged fizz — is all about special experiences and settings Clerc Milon using Ted, a robot that rivals Look out for my reports on these and
here’s looking at you, Cristal Vinotheque. — say, while staying at a posh Bordeaux R2D2 for cuteness. The châteaux’s manag- other vexing vino questions, coming soon.
Also, please, let’s have more neighbourhood chateau or right after picking grapes in ing director Philippe Dhalluin is convinced Oh, and whatever we do, please let’s not
champagne bars in 2018. Burgundy, or after spear-fishing in New robots are part of a “green” future. (Nearby, let blue wine happen, OK? — Bloomberg

Climate change is affecting so much: The fear of it has encouraged winemakers to adopt better eco-vino Modern robotic machinery, with supple plates used to mimic human feet, are used to crush grapes in
vineyard practices and experiment with new grape varieties. Photo by Moment RF Portugal. Photo by Getty Images Europe
2 4 S P O RT S
North Korea to send
team to Pyeongchang
Seoul is prepared to lift sanctions temporarily so the visit can take place
BY C H R I S T I NE KI M & JOSH SM ITH
SEOUL: North Korea said during
rare talks with the South yesterday
it would send a delegation to the
Pyeongchang Winter Olympics in
South Korea next month and Seoul
said it was prepared to lift some
sanctions temporarily so the visit
could take place.
At the first formal talks with
South Korea in more than two years,
North Korean officials said their
delegation to the Games would
consist of athletes, high-ranking
officials and a cheering squad.
The talks are being closely
Defending
champion Konta
knocked out in
Sydney first round
BY G R EG STU TC H B U RY
SYDNEY: Defending champion
Johanna Konta (pic) suffered a re-
versal of last year’s final when she
was bundled out in the first round
of the Sydney International by
Agnieszka Radwanska yesterday.
The Pole was overpowered in
82 minutes by the Briton in the
final last year, but repaid the fa-
vour at the Ken Rosewall Arena
of the Olympic Tennis Centre as
she raced to a 6-3, 7-5 victory.
Neither player was able to dom-
inate with their service games in
the first set, with Konta’s second
serve barely a factor as she won just
two of her 11 second-serve points
and Radwanska converted three of
her five break opportunities.
Konta again had trouble holding
serve in the second set but showed
signs of a fightback when she broke
while trailing 4-1 in the second, but
then could not push on as Radwan-
ska sealed the victory in one hour
and 49 minutes. — Reuters
PHOTO BY AFP
watched by world leaders eager
for any sign of a reduction in ten-
sion on the Korean Peninsula, amid
rising fears over North Korea’s mis-
sile launches and development of
nuclear weapons in defiance of
UN Security Council resolutions.
South Korea has unilaterally
banned several North Korean of-
ficials from entry in response to
Pyongyang’s ramped-up missile
and nuclear tests, held despite in-
ternational pressure.
However, some South Korean of-
ficials have said they see the Olym-
pics as a possible opportunity for
easing tension.
Australian Open: men to watch
Players who could win their first major at the Australian Open
Grigor Dimitrov Alexander Zverev
26 years old
Bulgaria
20
Germany
Ranking: 3 4 5
Four titles in 2017, One of just four men
including his first to beat Roger Federer
Masters crown in in 2017
Cincinnati
Never been beyond Five titles in 2017,
the semi-finals of a and reached fourth
Grand Slam round at Wimbledon
Source : ATP/AFP Photo
Wawrinka, Nadal give
Australian Open huge boost
BY GR EG STUTCHBU RY
MELBOURNE: Former champions
Stan Wawrinka and Rafa Nadal gave
Australian Open organisers a mas-
sive boost yesterday when they both
said they were looking forward to
next week’s season-opening Grand
Slam after battling long-term injuries.
The Australian Open has been
hit hard by absences with Andy
Murray, Serena Williams and Kei
Nishikori among those to have
withdrawn, while Nadal and No-
vak Djokovic have also been strug-
gling with injuries.
Wawrinka has been battling a
knee injury and has not played
since he was knocked out in the
first round of Wimbledon last year,
and the Swiss was one of the major
question marks heading into the
Foreign ministry spokesman
Roh Kyu-deok said Seoul would
consider whether it needed to take
“prior steps”, together with the UN
Security Council and other relevant
countries, to help the North Kore-
ans visit the Olympics.
At yesterday’s talks, the first since
December 2015, Seoul proposed
inter-Korean military discussions
to reduce tension on the peninsula
and a reunion of family members in
time for February’s Lunar New Year
holiday, South Korea’s vice unifica-
tion minister Chun Hae-sung said.
South Korea also proposed that
athletes from both sides march
Dominic Thiem
23
Austria
Won in Rio de Janeiro Won the Brisbane
in 2017 International on
Jan 7, 2018
Reached semi-finals Has two career wins
at Roland Garros in over Rafael Nadal
2016 and 2017
Jan 15-28 Australian Open.
“I’m really, really happy to be
back on the tour and seeing the sun,”
Wawrinka told reporters after an
event with the tournament’s ball kids
at the Melbourne Park yesterday.
“For me, the first thing is to play a
match, to play a tennis match again.
It’s been many months out of the tour.
“It’s not always the best when
you are an athlete so I’m looking
forward to it, enjoying the crowd.”
It was naturally welcome news to
Australian Open director Craig Tiley.
“There’s been a lot of questions
and in fact this is the first time pub-
licly in six months that he’s said
anything, so we are excited that he
agreed to come here and do it with
the ball kids,” Tiley said.
Tiley’s mood would have im-
proved even further after Nadal
WEDN ESDAY JAN UARY 1 0 , 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY
together at the Games’ opening
ceremony and other joint activities
during the Winter Olympics, Chun
told reporters outside the talks.
Athletes from the two Koreas have
paraded together at the opening and
closing ceremonies of major interna-
tional games before, although this
has not been seen since the 2007
Asian Winter Games in China, after
relations chilled under nearly a dec-
ade of conservative rule in the South.
It would also be the first time
since 2005 that the North will send
its female cheerleaders, dubbed
the “cheering squad of beauty” by
the South Korean media. — Reuters
Nick Kyrgios Andrey Rublev
22
Australia
20
Russia
17 32
Won his first ATP World
Tour title in 2017
(Umag)
Youngest US Open
quarter-finalist last year
since Andy Roddick
returned to the court for an exhibi-
tion match at the Kooyong Classic.
The Spaniard had also been bat-
tling a knee injury and had not
played since the season-ending
ATP Tour Finals in London.
He withdrew from a warm-up
tournament in Abu Dhabi and last
week’s Brisbane International and
had been concerned with his match
fitness.
“It was a good test for me and
good practice,” the 16-time Grand
Slam winner told reporters after his
6-4, 7-5 loss in which he appeared
to be moving freely, if not a little
rusty in his shotmaking.
“I’m good and I am here so that’s
good news and my idea is just to
keep practising the next couple of
days to be ready for the beginning
of the Australian Open.” — Reuters
IN BRIEF
Barcelona signed
Coutinho at reduce price,
says vice-president
BARCELONA: Barcelona signed
midfielder Philippe Coutinho
because it was given a signif-
icant discount on the price
Liverpool was asking for him
in the last transfer window,
vice-president Jordi Mestre said
on Monday. Coutinho became
the third-most expensive play-
er in football history when he
signed a five-and-a-half-year
contract with Barca on Monday
following a €160 million (RM765
million) deal between the clubs.
“The club has always been in-
terested in signing Coutinho,
the difference to last summer
is that there was a big cut in
price,” Mestre told reporters on
Monday at Coutinho’s official
presentation. “We won’t state
the numbers because Liverpool
don’t want us to, but there was
a big price cut.” — Reuters
China FA warns clubs over
Aubameyang ‘bidding war’
SHANGHAI: China’s football as-
sociation (FA) warned yesterday
that it would punish teams who
flout its transfer rules, following
reports two clubs were battling
to sign striker Pierre-Emerick
Aubameyang. Chinese Super
League champion Guangzhou
Evergrande is reportedly pre-
pared to pay at least €70 mil-
lion (RM335 million) for the
Borussia Dortmund attack-
er, trumping an offer by rival
Beijing Guoan. China’s FA last
year introduced a 100% tax on
incoming foreign transfers in
an effort to encourage Chinese
clubs to invest in local youth
players, but media reports sug-
gest both clubs are prepared to
either incur the penalty or find
a way to circumvent it. — AFP
ATP pledges shake-up
as four quit Auckland
AUCKLAND: Men’s tennis
boss Chris Kermode yester-
day pledged a shake-up in ATP
rules as four players pulled out
of the Auckland Classic before
their opening matches, citing
injury or illness. “Tennis is
such a physical sport that these
things are going to happen. We
are currently doing a whole re-
view process of our business
and plans for 2019,” said ATP
executive chairman Kermode.
“Ranking points, player with-
drawals and how we deal with
that is something we’ve got to
and are looking at.” — AFP
PGA Tour suspends Fritsch
for doping violation
MIAMI: Canadian golfer Brad
Fritsch has been suspended for
three months for a doping viola-
tion that he reported himself to
the US PGA Tour, the tour said
on Monday. “The PGA Tour an-
nounced today (Monday) that
Brad Fritsch has violated the PGA
Tour anti-doping policy’s ban on
the use of performance-enhanc-
ing substances and has been
suspended for three months,”
the tour said in a statement from
its Ponte Vedra Beach, Florida
headquarters. — AFP
WED N ES DAY JA N UA RY 1 0 , 20 1 8 • T HE ED G E FINA NCIA L DA ILY
Markets 2 5
BURSA MAL AYSIA MAIN MARKET

Bursa Malaysia YEAR

HIGH
YEAR
LOW
DAY
HIGH
DAY
LOW
CODE COUNTER CLOSING
(RM)
+/–
(RM)
VOL
(‘000)
VWAP*
(RM)
PE#
(X)
DY
(%)
MKT CAP
(MIL)
0.495 0.080 0.350 0.350 9954 AKNIGHT 0.350 -0.025 0.2 0.350 — — 20.3
Sectorial Movement 1.694 0.850 1.040 1.010 2674 ALCOM 1.010 -0.030 332.3 1.022 8.74 20.30 135.7
1.070 0.325 0.635 0.590 4758 ANCOM 0.615 -0.005 1494.9 0.616 7.40 — 134.7
INDICES CLOSE +/- %CHG INDICES CLOSE +/- %CHG 3.980 2.170 3.800 3.700 6556 ANNJOO 3.730 -0.070 1468 3.741 9.59 2.82 2,008.3
0.551 0.075 0.100 0.095 9342 ANZO 0.095 -0.005 5425.2 0.098 158.33 — 83.7
KLSE COMPOSITE 1,826.95 -5.20 -0.28 TECHNOLOGY 43.57 -0.90 -2.02
1.160 0.855 0.950 0.950 5568 APB 0.950 UNCH 0.1 0.950 28.11 6.84 107.2
KLSE INDUSTRIAL 3,412.67 -23.64 -0.69 FTSE BURSA 100 12,903.77 -42.72 -0.33 4.090 3.281 3.760 3.750 5015 APM 3.760 UNCH 35.9 3.759 17.76 3.86 758.0
CONSUMER PRODUCT 656.69 -0.33 -0.05 FTSE BURSA MID 70 16,716.92 -75.43 -0.45 1.194 0.865 0.955 0.930 7214 ARANK 0.930 -0.025 115.9 0.948 7.51 3.49 111.6
1.290 0.676 1.060 1.020 7162 ASTINO 1.060 UNCH 1754.3 1.039 7.55 0.94 290.6
INDUSTRIAL PRODUCT 184.38 -0.42 -0.23 FTSE BURSA SMALL CAP 18,000.62 -82.26 -0.45
1.185 0.483 0.975 0.935 7099 ATTA 0.960 -0.005 1278.4 0.955 4.06 8.23 146.7
CONSTRUCTION 324.54 -0.85 -0.26 FTSE BURSA FLEDGLING 19,511.18 -95.69 -0.49 0.625 0.200 0.270 0.230 7181 ATURMJU 0.230 -0.020 27 0.245 — — 14.1
TRADE & SERVICES 242.03 -0.69 -0.28 FTSE BURSA EMAS 13,270.33 -45.18 -0.34 2.522 1.710 2.120 2.010 8133 BHIC 2.080 UNCH 49.1 2.089 5.78 2.40 516.8
0.570 0.350 0.445 0.420 7005 BIG 0.440 -0.005 88 0.443 — — 21.2
KLSE FINANCIAL 17,148.30 -92.17 -0.53 FTSE BUR M’SIA ACE 7,009.66 11.73 0.17
0.580 0.115 0.495 0.485 7187 BKOON 0.490 0.005 139.4 0.487 153.13 — 140.4
KLSE PROPERTY 1,236.68 -6.28 -0.51 FTSE BUR EMAS SHARIAH 13,771.74 -35.46 -0.26 1.091 0.742 0.825 0.825 0168 BOILERM 0.825 UNCH 58.1 0.825 19.01 1.82 425.7
KLSE PLANTATION 8,094.73 0.34 Unch FTSE BUR HIJRAH SHARIAH 15,000.99 -41.83 -0.28 2.163 1.200 1.260 1.260 6297 BOXPAK 1.260 -0.080 5 1.260 — — 151.3
1.531 1.080 1.120 1.100 5100 BPPLAS 1.110 0.020 54.6 1.106 15.59 7.21 208.3
KLSE MINING 628.19 12.16 1.97 FTSE/ASEAN 40 11,854.11 -21.74 -0.18
0.316 0.237 0.265 0.255 9938 BRIGHT 0.260 UNCH 447.1 0.261 — — 53.4
0.800 0.285 0.740 0.730 7221 BSLCORP 0.730 UNCH 28.6 0.735 20.92 — 71.5
0.365 0.230 0.270 0.255 7188 BTM 0.260 -0.005 332.5 0.261 48.15 — 33.4
3.489 2.660 2.890 2.860 5105 CANONE 2.880 -0.020 40.5 2.877 7.82 1.39 553.4
0.035 0.005 — — 5229 CAP 0.010 — — — — — 13.6
2.168 1.730 1.920 1.810 7076 CBIP 1.830 -0.070 604.4 1.861 10.03 3.28 985.0

Bursa Malaysia Main Market 2.134 1.017 1.860

1.750 1.380
1.240 1.020 1.130
—
1.820
—
1.130
2879
8435
8044
CCM
CEPCO
CFM
1.840
1.500
1.130
-0.010

UNCH
—
372.4
—
2.5
1.849
—
1.130
37.32
—
—
8.15
—
—
308.6
67.2
46.3
1.896 1.480 1.780 1.770 5007 CHINWEL 1.770 -0.010 174.6 1.777 10.15 3.84 530.2
YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP 2.650 1.651 2.650 2.580 5797 CHOOBEE 2.600 -0.040 280.7 2.592 7.97 2.31 285.7
HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL) 1.150 0.940 — — 8052 CICB 1.030 — — — 24.58 — 51.5
CONSUMER PRODUCTS 0.075 0.040 0.050 0.050 7018 CME 0.050 UNCH 5310.6 0.050 — — 24.3
0.725 0.380 0.460 0.450 7120 ACOSTEC 0.460 -0.010 89 0.454 — — 81.8 4.628 3.300 4.060 4.000 2852 CMSB 4.010 UNCH 1313.9 4.014 17.16 1.57 4,308.2
5.800 4.359 5.400 5.400 7090 AHEALTH 5.400 -0.030 2 5.400 16.47 2.13 632.6 0.600 0.300 — — 7986 CNASIA 0.530 — — — 1.03 — 24.1
24.759 12.716 21.200 20.860 2658 AJI 21.12 -0.020 21.9 21.12 6.87 1.99 1,284.1 1.507 1.141 1.450 1.360 5071 COASTAL 1.370 -0.050 252 1.401 14.75 1.46 728.3
0.390 0.220 0.355 0.310 7051 AMTEK 0.310 -0.010 83 0.311 — — 15.5 1.150 0.670 0.790 0.760 7195 COMCORP 0.770 -0.020 1013.3 0.771 10.04 — 107.8
5.202 4.400 4.580 4.550 6432 APOLLO 4.560 UNCH 13.3 4.559 23.65 5.48 364.8 1.220 0.655 1.190 1.140 2127 COMFORT 1.180 0.010 4832.1 1.164 18.10 — 659.4
1.110 0.800 — — 7722 ASIABRN 0.910 — — — — — 72.0 2.156 1.470 1.610 1.570 5094 CSCSTEL 1.610 0.020 848.5 1.587 11.62 6.21 611.8
3.459 2.880 2.970 2.940 7129 ASIAFLE 2.940 -0.010 288.6 2.950 9.15 5.44 572.6 0.804 0.625 — — 7157 CYL 0.640 — — — 51.20 6.25 64.0
48.735 34.060 37.900 36.820 4162 BAT 36.82 -0.700 190.6 37.05 15.00 5.51 10,513.2 0.405 0.305 0.330 0.320 5082 CYMAO 0.330 0.015 35.1 0.326 — — 24.8
0.120 0.045 0.065 0.060 7243 BIOOSMO 0.060 -0.005 9767.4 0.061 — — 47.7 2.348 1.782 — — 8125 DAIBOCI 2.250 — — — 30.74 1.93 737.8
0.718 0.485 0.580 0.530 9288 BONIA 0.570 0.030 2860 0.556 18.51 2.19 459.6 1.660 0.405 1.510 1.490 8176 DENKO 1.490 UNCH 338.2 1.501 — — 171.2
1.110 0.483 0.975 0.950 7174 CAB 0.960 -0.005 1764.7 0.961 6.41 0.33 599.2 0.460 0.220 0.355 0.355 7114 DNONCE 0.355 UNCH 609 0.355 28.86 — 65.5
1.160 0.380 1.160 1.060 7154 CAELY 1.150 0.050 5366.3 1.119 52.51 0.87 92.0 0.435 0.185 0.220 0.215 5835 DOLMITE 0.215 -0.005 22.8 0.216 — — 61.3
0.415 0.260 0.405 0.390 7128 CAMRES 0.395 UNCH 722.1 0.394 19.08 2.53 77.7 0.435 0.150 0.185 0.175 5265 DOLPHIN 0.180 -0.005 2266.3 0.180 — — 44.0
16.000 13.190 15.540 15.400 2836 CARLSBG 15.44 -0.040 41.5 15.47 21.63 4.99 4,720.7 1.360 1.108 — — 7169 DOMINAN 1.340 — — — 9.44 4.48 221.4
1.230 0.607 1.160 1.120 7035 CCK 1.120 -0.030 548.6 1.133 12.19 1.79 353.2 2.600 1.123 2.600 2.400 1619 DRBHCOM 2.530 0.090 37157.4 2.522 8.27 0.40 4,891.1
2.800 1.842 2.800 2.720 7148 CCMDBIO 2.790 -0.010 288.1 2.757 19.86 2.33 778.3 1.582 0.690 1.310 1.250 7233 DUFU 1.250 -0.040 1332.6 1.274 6.21 4.40 219.3
2.549 2.070 2.210 2.180 2828 CIHLDG 2.180 -0.100 10 2.190 10.69 3.67 353.2 0.866 0.640 0.705 0.685 8907 EG 0.690 -0.010 560.4 0.693 6.41 — 183.8
0.145 0.020 0.130 0.120 5188 CNOUHUA 0.120 -0.010 3467.6 0.125 — — 80.2 1.070 0.780 0.855 0.845 9016 EKSONS 0.855 0.020 12.8 0.847 — — 140.4
3.200 1.927 2.680 2.650 7205 COCOLND 2.650 -0.020 107.5 2.651 15.02 5.85 606.3 0.870 0.535 0.810 0.765 7217 EMETALL 0.780 -0.030 1298.5 0.786 7.85 3.21 146.9
1.906 1.600 1.660 1.650 7202 CSCENIC 1.660 -0.010 94.6 1.654 16.31 6.02 200.0 0.885 0.385 — — 7773 EPMB 0.500 — — — — — 83.0
0.095 0.010 — — 5214 CSL 0.010 — — — 1.27 — 12.4 0.988 0.645 0.695 0.680 5101 EVERGRN 0.680 -0.015 1813.1 0.683 11.62 2.94 575.6
0.773 0.481 0.535 0.520 9423 CWG 0.520 UNCH 90.9 0.527 3.42 2.88 65.7 1.520 1.032 1.520 1.480 2984 FACBIND 1.480 -0.010 296 1.497 14.47 2.70 126.0
0.050 0.025 0.035 0.030 7179 DBE 0.030 UNCH 6118.7 0.033 — — 80.3 2.862 2.312 2.850 2.740 7229 FAVCO 2.790 -0.010 143.5 2.785 8.51 5.38 617.7
1.040 0.807 — — 7119 DEGEM 1.000 — — — 12.52 2.50 134.0 0.780 0.537 — — 0149 FIBON 0.640 — — — 13.22 1.72 62.7
62.000 51.497 61.000 60.500 3026 DLADY 60.70 0.200 9.4 60.70 28.87 1.65 3,884.8 2.221 2.010 2.140 2.130 3107 FIMACOR 2.140 0.030 17 2.137 18.64 5.84 524.9
0.110 0.060 0.090 0.085 7182 EKA 0.090 0.005 520 0.086 — — 28.1 1.870 1.220 1.330 1.300 5197 FLBHD 1.300 -0.040 77.4 1.310 7.09 — 134.2
0.360 0.220 0.250 0.245 9091 EMICO 0.245 -0.005 727.2 0.246 — — 23.5 0.679 0.390 0.465 0.390 5277 FPGROUP 0.460 0.025 15396.5 0.434 22.01 1.54 238.3
1.823 1.300 1.390 1.310 7149 ENGKAH 1.390 0.090 29.5 1.334 82.25 4.32 98.4 1.510 1.310 1.460 1.460 3611 GBH 1.460 UNCH 6.3 1.460 76.04 — 272.5
0.270 0.150 0.170 0.165 7208 EURO 0.165 -0.005 105 0.170 — — 44.1 2.620 1.620 1.690 1.650 7197 GESHEN 1.650 -0.020 53.7 1.669 8.41 — 132.0
0.760 0.625 0.730 0.660 7094 EUROSP 0.730 UNCH 11.6 0.708 58.40 — 32.4 0.085 0.040 0.055 0.050 5220 GLOTEC 0.050 UNCH 15648.5 0.051 — — 269.1
28.520 22.389 28.520 28.020 3689 F&N 28.28 -0.100 582.4 28.23 32.04 2.03 10,372.5 0.680 0.185 0.290 0.245 7192 GOODWAY 0.250 -0.025 1663.7 0.271 — — 27.6
1.070 0.815 — — 2755 FCW 0.850 — — — — 1.76 212.5 0.135 0.090 0.100 0.100 7096 GPA 0.100 UNCH 250 0.100 — — 98.0
0.850 0.520 0.560 0.550 8605 FFHB 0.560 UNCH 40.1 0.553 13.11 2.14 61.0 0.425 0.260 0.305 0.290 5649 GPHAROS 0.295 UNCH 668.9 0.299 — — 39.7
2.040 0.828 2.000 1.950 9172 FPI 1.980 -0.020 394.7 1.971 14.29 3.03 489.8 0.250 0.175 0.200 0.190 0136 GREENYB 0.195 UNCH 320.5 0.194 — 1.54 65.1
1.100 0.800 0.840 0.830 7184 G3 0.830 UNCH 464.2 0.830 — — 342.4 1.005 0.630 0.750 0.740 3247 GUH 0.740 0.010 77.4 0.743 20.16 4.55 205.6
2.200 0.869 2.190 2.150 5102 GCB 2.150 -0.040 383.4 2.161 16.84 1.16 1,032.3 1.180 0.340 0.930 0.930 5151 HALEX 0.930 0.005 10.2 0.930 — — 98.6
3.050 2.334 3.000 2.990 5606 GOLDIS 2.990 0.010 14 2.994 10.60 0.67 1,828.3 11.400 4.457 10.860 10.700 5168 HARTA 10.800 0.020 888 10.80 48.65 0.93 17,851.4
0.135 0.035 0.110 0.100 5187 HBGLOB 0.100 -0.005 460 0.101 20.41 — 46.8 19.200 2.400 17.360 16.860 4324 HENGYUAN 17.060 -0.220 1793.7 17.07 5.48 — 5,118.0
19.500 14.938 19.200 19.100 3255 HEIM 19.18 0.100 9.3 19.15 20.61 6.00 5,794.2 1.727 1.120 1.150 1.130 5095 HEVEA 1.130 UNCH 1883.9 1.133 7.48 6.81 631.2
10.440 8.799 9.760 9.700 3301 HLIND 9.750 -0.050 59.1 9.718 25.02 3.59 3,197.1 1.136 0.800 0.820 0.805 3298 HEXZA 0.820 0.010 125.7 0.814 — 6.10 164.3
1.008 0.900 0.915 0.900 5160 HOMERIZ 0.910 0.005 421.7 0.903 8.83 3.52 273.0 0.485 0.280 0.485 0.460 5072 HIAPTEK 0.470 -0.005 8334.3 0.469 — — 622.6
0.380 0.240 0.380 0.375 7213 HOVID 0.375 UNCH 948.7 0.375 — — 307.8 1.070 0.375 1.070 0.960 5199 HIBISCS 1.060 0.080 156347 1.021 41.57 — 1,636.6
1.237 1.061 1.150 1.140 5024 HUPSENG 1.150 0.010 290.7 1.149 20.00 3.48 920.0 1.320 0.829 1.320 1.270 7033 HIGHTEC 1.320 0.050 27.6 1.282 8.27 2.65 53.6
0.630 0.380 0.425 0.395 8478 HWATAI 0.405 -0.010 947.1 0.403 144.64 — 30.3 1.020 0.680 0.855 0.840 8443 HIL 0.840 -0.020 541.6 0.850 16.70 1.49 280.6
4.760 1.756 1.980 1.950 5107 IQGROUP 1.960 -0.010 70 1.965 10.02 5.61 172.5 0.715 0.280 0.460 0.420 5165 HOKHENG 0.430 -0.040 12 0.455 30.07 — 34.4
1.546 1.121 1.400 1.370 7152 JAYCORP 1.370 -0.020 185.8 1.381 7.48 8.03 188.0 0.550 0.020 0.550 0.495 2739 HUAAN 0.540 0.015 104660 0.526 — — 606.0
0.740 0.490 0.520 0.505 8931 JERASIA 0.520 -0.005 70.2 0.506 14.44 — 42.7 2.869 2.100 2.160 2.130 5000 HUMEIND 2.130 -0.040 8 2.139 91.81 0.94 1,020.5
1.715 1.160 1.270 1.250 7167 JOHOTIN 1.250 -0.010 643.1 1.256 9.01 2.70 388.1 0.085 0.045 0.080 0.070 9601 HWGB 0.075 -0.005 30380.3 0.076 — — 74.9
2.501 1.200 1.310 1.280 5247 KAREX 1.310 0.010 879.5 1.296 54.58 0.76 1,313.1 1.996 1.634 — — 7222 IMASPRO 1.830 — — — 34.01 1.91 146.4
3.800 2.900 2.990 2.970 7216 KAWAN 2.970 -0.010 40.7 2.978 35.06 0.63 1,067.8 0.300 0.140 0.160 0.150 7183 IRETEX 0.160 UNCH 185.1 0.154 — — 22.1
0.255 0.140 0.170 0.170 8303 KFM 0.170 -0.015 50 0.170 — — 11.6 0.085 0.050 0.060 0.055 7223 JADI 0.055 -0.005 1039.9 0.060 — — 51.8
0.920 0.700 0.730 0.720 6203 KHEESAN 0.730 UNCH 51 0.726 23.93 1.37 75.9 0.175 0.135 0.145 0.140 8648 JASKITA 0.145 UNCH 166.5 0.141 — 6.90 65.2
2.550 2.000 2.000 2.000 7062 KHIND 2.000 UNCH 3 2.000 36.17 0.50 80.1 1.120 0.920 1.020 1.020 7043 JMR 1.020 0.010 50 1.020 182.14 2.94 129.3
2.184 1.022 — — 0002 KOTRA 1.670 — — — 15.20 2.40 223.1 1.715 1.160 1.270 1.250 7167 JOHOTIN 1.250 -0.010 643.1 1.256 9.01 2.70 388.1
0.140 0.050 0.115 0.105 5172 KSTAR 0.110 0.005 10169 0.111 — — 32.2 0.310 0.180 0.245 0.235 0054 KARYON 0.235 -0.010 1476.5 0.240 21.36 1.28 111.8
5.839 4.000 4.250 4.210 7006 LATITUD 4.240 0.020 27 4.225 6.50 2.83 412.2 0.772 0.565 — — 7199 KEINHIN 0.610 — — — 11.71 2.23 66.4
1.090 0.785 1.000 0.990 9385 LAYHONG 0.990 -0.010 1477.6 0.995 19.49 0.51 602.7 0.500 0.300 0.360 0.355 6211 KIALIM 0.355 -0.025 30.5 0.360 — — 22.0
0.425 0.266 0.425 0.405 8079 LEESK 0.420 0.020 2201.6 0.415 13.73 2.38 70.5 3.080 2.860 2.980 2.930 3522 KIANJOO 2.950 0.020 149.2 2.956 18.85 1.36 1,310.3
4.303 2.907 3.480 3.430 7089 LIIHEN 3.450 0.040 367.8 3.448 8.05 4.64 621.0 2.315 1.370 1.460 1.430 5371 KIMHIN 1.450 -0.010 44 1.447 9.71 4.14 225.6
0.820 0.650 0.670 0.660 7126 LONBISC 0.670 UNCH 119.6 0.665 14.50 — 125.0 0.075 0.005 — — 5060 KINSTEL 0.005 — — — — — 5.2
1.866 1.020 1.130 1.120 7085 LTKM 1.130 -0.020 10 1.125 28.75 2.65 147.0 1.450 0.800 1.010 0.990 9466 KKB 0.995 -0.005 338 0.995 — — 256.5
7.728 3.994 5.640 5.610 7087 MAGNI 5.620 -0.020 200.5 5.620 8.46 2.49 914.6 0.380 0.220 0.300 0.275 7164 KNM 0.280 -0.010 73236.2 0.285 — — 663.4
0.045 0.010 0.015 0.010 5189 MAXWELL 0.015 UNCH 2760.5 0.015 — — 6.0 1.120 0.830 0.865 0.860 6971 KOBAY 0.860 -0.005 8.7 0.861 14.08 — 87.8
1.266 0.974 1.050 1.040 5886 MBG 1.040 0.020 3.6 1.046 — 2.88 63.2 0.266 0.180 0.215 0.205 7017 KOMARK 0.205 -0.015 161 0.208 — — 33.7
2.464 1.285 1.980 1.950 3662 MFLOUR 1.970 -0.010 248.8 1.969 13.02 3.30 1,084.1 8.700 5.529 8.620 8.450 7153 KOSSAN 8.600 -0.050 1032.1 8.526 30.80 1.28 5,499.4
0.960 0.760 — — 7935 MILUX 0.820 — — — — — 44.6 1.110 0.345 0.745 0.745 7130 KPOWER 0.745 0.015 1 0.745 — — 56.7
4.956 3.760 — — 5202 MSM 3.950 — — — — 3.54 2,776.8 5.098 4.500 4.700 4.600 3476 KSENG 4.700 0.090 60.1 4.615 21.73 2.13 1,698.9
0.035 0.030 — — 5150 MSPORTS 0.035 — — — — — 21.2 0.580 0.375 0.415 0.415 5192 KSSC 0.415 -0.005 18.8 0.415 9.04 3.61 39.8
1.826 1.184 1.370 1.370 3921 MWE 1.370 UNCH 45.9 1.370 2.30 1.46 317.2 0.775 0.295 0.510 0.485 8362 KYM 0.495 -0.015 45.4 0.490 70.71 — 74.2
105.00 71.80 105.00 102.30 4707 NESTLE 103.00 -0.400 163.6 103.57 41.70 2.62 24,153.5 7.400 5.060 6.200 6.170 3794 LAFMSIA 6.170 UNCH 87.2 6.178 — 3.24 5,242.6
4.838 3.062 — — 7060 NHFATT 3.380 — — — 11.38 3.25 254.0 0.910 0.580 0.700 0.665 9326 LBALUM 0.680 -0.010 176.7 0.677 13.68 3.68 169.0
0.130 0.055 0.070 0.065 7139 NICE 0.070 UNCH 1939.3 0.066 — — 23.3 0.601 0.425 0.540 0.540 5092 LCTH 0.540 UNCH 1639.7 0.540 15.84 4.63 194.4
0.310 0.225 0.240 0.235 7215 NIHSIN 0.235 -0.005 383.1 0.238 67.14 — 61.3 6.530 4.140 5.120 5.030 5284 LCTITAN 5.110 0.010 2294.1 5.067 9.53 — 11,792.8
0.882 0.600 0.635 0.630 5066 NTPM 0.635 0.005 46.8 0.635 16.28 3.78 713.2 0.985 0.476 0.945 0.915 5232 LEONFB 0.925 -0.020 2295.6 0.926 4.58 1.62 286.8
0.690 0.455 0.540 0.525 7071 OCR 0.535 UNCH 753 0.534 29.40 — 156.4 0.440 0.105 0.365 0.325 8745 LEWEKO 0.330 -0.010 7098.7 0.351 — — 106.2
1.765 1.240 1.310 1.250 7107 OFI 1.310 0.070 31 1.280 19.21 3.05 314.4 0.080 0.030 0.035 0.035 2887 LIONDIV 0.035 UNCH 42 0.035 — — 48.7
6.768 6.258 6.540 6.520 4006 ORIENT 6.530 UNCH 564.7 6.530 9.20 3.06 4,051.2 1.670 0.435 1.460 1.380 4235 LIONIND 1.400 -0.050 8421 1.410 7.05 — 1,005.1
5.500 2.196 5.350 5.260 7052 PADINI 5.280 -0.070 2071.6 5.307 21.71 1.89 3,473.8 0.740 0.390 0.550 0.535 9881 LSTEEL 0.535 -0.015 484.7 0.540 12.56 — 68.5
40.631 29.662 38.020 37.900 3719 PANAMY 37.90 -0.120 1.1 37.99 19.04 3.09 2,302.3 0.160 0.060 0.115 0.110 5068 LUSTER 0.110 -0.005 3819.2 0.112 — — 217.4
0.654 0.425 0.480 0.440 5022 PAOS 0.475 0.035 16.1 0.457 57.23 3.37 86.1 4.660 3.336 4.550 4.400 9199 LYSAGHT 4.500 UNCH 32.7 4.433 9.39 1.56 187.1
0.650 0.350 0.400 0.400 9407 PARAGON 0.400 -0.005 4 0.400 — — 28.0 1.830 0.622 1.770 1.650 5098 MASTEEL 1.700 -0.040 13053.3 1.689 7.41 — 536.6
0.401 0.210 0.375 0.340 6068 PCCS 0.355 -0.010 7281.6 0.358 7.98 — 74.6 0.841 0.512 0.690 0.655 7029 MASTER 0.655 -0.025 170.9 0.674 8.73 1.53 35.8
1.030 0.790 0.860 0.820 5231 PELIKAN 0.860 0.010 308.9 0.834 20.62 — 475.8 1.430 0.992 1.390 1.350 5152 MBL 1.370 -0.010 199.1 1.366 9.13 2.92 126.0
0.707 0.561 0.620 0.610 9997 PENSONI 0.620 0.010 136.4 0.613 10.03 3.23 80.4 0.870 0.668 0.790 0.770 7004 MCEHLDG 0.790 UNCH 25.2 0.777 30.98 1.90 35.1
0.235 0.155 0.180 0.175 4081 PMCORP 0.180 0.005 188 0.175 — — 139.2 0.415 0.230 0.280 0.265 3778 MELEWAR 0.270 -0.010 195.7 0.269 — — 60.9
0.795 0.451 0.665 0.635 5080 POHKONG 0.655 0.010 1110 0.657 8.12 1.53 268.8 0.789 0.508 — — 5223 MENTIGA 0.660 — — — — 1.52 46.2
2.048 1.620 1.670 1.650 7088 POHUAT 1.670 0.010 395.1 1.665 6.39 4.79 389.1 1.837 1.620 — — 6149 METROD 1.750 — — — 13.69 3.43 210.0
17.600 15.696 17.500 17.300 4065 PPB 17.40 -0.040 1445 17.39 15.56 1.44 20,627.7 1.260 0.720 0.765 0.740 5001 MIECO 0.750 UNCH 1449.1 0.749 4.86 5.33 393.8
0.720 0.480 0.505 0.505 7190 PPG 0.505 UNCH 10 0.505 16.72 2.73 50.5 0.170 0.090 0.140 0.135 7219 MINETEC 0.135 UNCH 896.9 0.135 — — 98.8
1.644 0.720 0.810 0.780 8966 PRLEXUS 0.785 -0.015 680.8 0.793 7.29 2.87 141.3 0.660 0.435 0.515 0.500 5576 MINHO 0.500 -0.015 208.1 0.507 7.14 — 109.9
1.156 0.692 1.090 1.040 7134 PWF 1.060 -0.010 596.6 1.068 9.33 3.24 181.2 4.237 3.250 3.410 3.370 5916 MSC 3.410 0.040 26 3.395 10.79 2.35 341.0
2.615 1.793 2.020 1.980 7237 PWROOT 1.980 0.010 238.3 1.994 18.17 5.81 653.7 1.766 1.280 1.430 1.380 3883 MUDA 1.380 UNCH 577.3 1.396 10.34 2.17 421.0
4.750 3.820 4.750 4.580 7084 QL 4.710 0.110 201.2 4.639 37.74 0.69 7,641.7 1.100 0.495 0.590 0.565 5087 MYCRON 0.570 -0.020 252.9 0.576 5.30 — 161.6
0.628 0.530 0.595 0.570 9946 REX 0.595 -0.005 1.1 0.593 58.91 0.84 146.7 0.240 0.005 — — 7002 NAKA 0.010 — — — — — 0.6
1.890 1.240 1.330 1.270 0183 SALUTE 1.290 0.020 706.6 1.291 24.71 1.86 500.5 0.265 0.120 — — 5025 NWP 0.140 — — — — — 53.5
1.069 0.550 0.665 0.625 5252 SASBADI 0.650 0.030 4404.3 0.642 33.85 1.03 272.4 1.163 0.538 0.900 0.880 4944 NYLEX 0.895 0.015 570.5 0.889 7.96 2.23 173.9
0.590 0.290 0.510 0.475 5157 SAUDEE 0.495 -0.015 1126.3 0.487 49.01 — 59.4 1.925 1.186 1.710 1.690 7140 OKA 1.690 -0.020 171.7 1.702 9.53 3.25 276.4
1.490 1.000 1.420 1.420 7180 SERNKOU 1.420 0.020 11.6 1.420 56.80 — 170.4 1.604 0.919 1.400 1.380 5065 ORNA 1.390 -0.020 137.3 1.392 8.62 1.80 104.6
0.845 0.590 — — 7165 SGB 0.610 — — — — — 120.1 0.110 0.043 0.110 0.095 7225 PA 0.105 UNCH 123781 0.101 — — 178.9
1.672 1.192 1.250 1.250 7412 SHH 1.250 UNCH 6.2 1.250 11.87 4.00 62.5 8.270 6.687 8.210 8.120 5183 PCHEM 8.140 -0.010 8427.7 8.147 15.86 2.95 65,120.0
1.034 0.690 0.775 0.740 7246 SIGN 0.745 -0.015 217.9 0.748 9.14 3.36 179.0 1.667 1.255 1.650 1.540 5271 PECCA 1.630 0.080 1495.2 1.612 23.52 3.07 306.4
0.915 0.473 0.690 0.630 8532 SINOTOP 0.640 0.005 420.2 0.645 87.67 — 252.7 7.901 4.000 4.430 4.360 5436 PERSTIM 4.420 0.020 33 4.403 12.04 9.05 438.9
0.865 0.505 0.550 0.545 9776 SMCAP 0.545 -0.035 20 0.548 — — 33.3 20.960 15.820 19.200 18.820 6033 PETGAS 19.000 -0.200 576 19.00 21.22 3.47 37,595.9
0.385 0.220 — — 7943 SNC 0.290 — — — — — 19.1 15.060 3.980 13.500 13.000 3042 PETRONM 13.280 -0.180 342.2 13.27 8.57 1.66 3,585.6
2.548 2.130 2.450 2.300 7103 SPRITZER 2.400 0.060 355.4 2.411 19.34 2.41 504.0 2.466 1.644 2.020 1.990 7095 PIE 1.990 UNCH 319.4 2.001 16.11 1.21 764.2
1.440 1.050 1.240 1.210 7186 SWSCAP 1.220 UNCH 95.5 1.219 20.78 0.82 178.0 5.466 1.561 4.110 4.060 7172 PMBTECH 4.060 -0.040 116.4 4.090 27.54 0.99 324.8
0.669 0.380 0.420 0.405 7082 SYF 0.410 -0.005 575.3 0.410 10.07 3.66 253.9 5.550 2.506 5.550 5.460 8869 PMETAL 5.530 0.030 5420.4 5.513 35.91 1.08 21,195.3
0.505 0.330 — — 7211 TAFI 0.400 — — — — — 32.0 0.575 0.470 — — 6637 PNEPCB 0.520 — — — 20.88 — 68.4
1.928 1.290 1.780 1.720 4405 TCHONG 1.750 0.030 266.7 1.753 — 1.14 1,176.0 0.995 0.285 0.505 0.490 8117 POLY 0.490 -0.005 120.4 0.495 2.34 — 78.4
0.800 0.375 0.475 0.455 7200 TEKSENG 0.460 -0.005 1364.5 0.463 — 4.35 160.1 0.973 0.660 0.715 0.690 8273 PPHB 0.700 -0.010 177.6 0.697 7.44 — 132.0
1.250 0.850 0.920 0.900 7252 TEOSENG 0.915 -0.005 149.8 0.909 — 1.64 274.5 0.350 0.250 — — 9458 PREMIER 0.275 — — — 916.67 — 92.7
1.455 1.160 — — 9369 TGL 1.160 — — — 12.76 4.31 47.3 1.458 0.823 1.150 1.100 9873 PRESTAR 1.110 -0.040 704.9 1.116 4.81 3.60 227.1
1.020 0.405 0.710 0.700 7230 TOMEI 0.710 -0.005 36.9 0.704 8.18 — 98.4 1.110 0.745 — — 7168 PRG 0.950 — — — 206.52 0.53 287.4
0.530 0.370 0.410 0.400 7176 TPC 0.410 0.010 55 0.406 — — 95.9 0.330 0.105 0.325 0.290 7123 PWORTH 0.310 UNCH 160809 0.313 46.97 — 297.4
6.440 4.227 6.440 6.180 4588 UMW 6.370 0.100 4874 6.316 — — 7,442.0 1.290 0.920 1.060 1.000 7544 QUALITY 1.060 0.100 1002.9 1.050 — — 61.4
2.680 1.954 2.510 2.500 7757 UPA 2.500 0.070 19 2.510 3.26 3.20 199.0 0.750 0.510 — — 7498 RALCO 0.550 — — — — — 23.1
2.470 0.756 2.050 1.960 7203 WANGZNG 1.990 -0.040 479.4 1.992 21.92 2.01 318.4 5.840 5.310 — — 7765 RAPID 5.680 — — — 516.3 — 607.2
0.175 0.050 0.175 0.165 5156 XDL 0.170 UNCH 2366.9 0.171 22.67 — 229.9 0.725 0.285 0.480 0.440 5256 REACH 0.455 -0.010 16034 0.461 350.0 — 498.9
0.665 0.365 0.600 0.590 7121 XIANLNG 0.600 UNCH 98 0.595 — — 48.0 0.655 0.365 0.400 0.390 7232 RESINTC 0.395 -0.005 56 0.394 6.75 3.04 54.2
0.125 0.020 — — 5155 XINQUAN 0.055 — — — — — 26.7 1.580 0.650 1.580 1.530 9741 ROHAS 1.550 0.010 268.7 1.563 — 0.65 732.6
2.822 2.100 2.200 2.170 5584 YEELEE 2.200 0.010 45.2 2.185 11.00 2.05 421.5 0.850 0.650 0.715 0.695 7803 RUBEREX 0.710 UNCH 964.7 0.701 9.79 2.46 179.1
1.522 1.009 1.250 1.220 5159 YOCB 1.250 0.020 5.1 1.221 9.04 4.00 200.0 5.194 3.878 — — 5134 SAB 4.450 — — — 13.71 1.12 609.4
3.190 1.822 2.680 2.650 7178 YSPSAH 2.650 -0.010 119 2.651 13.14 2.64 362.4 8.490 5.233 7.500 7.470 9822 SAM 7.480 -0.020 51.4 7.475 17.89 1.37 1,011.0
1.990 1.153 1.840 1.810 5131 ZHULIAN 1.830 UNCH 52.2 1.820 13.63 3.28 841.8 0.957 0.870 0.910 0.910 7811 SAPIND 0.910 UNCH 17 0.910 46.19 5.49 66.2
INDUSTRIAL PRODUCTS 1.237 0.700 0.830 0.805 5170 SCABLE 0.815 UNCH 505.5 0.815 — 3.68 258.4
1.393 0.985 1.020 1.000 0012 3A 1.010 UNCH 784.7 1.011 11.88 1.78 496.9 3.400 2.300 2.370 2.350 7247 SCGM 2.360 -0.010 186.5 2.358 17.81 2.54 456.9
0.210 0.085 0.145 0.140 7086 ABLEGRP 0.145 0.005 556.3 0.140 — — 38.3 0.740 0.500 — — 9237 SCIB 0.570 — — — 14.69 — 49.0
0.430 0.205 0.360 0.350 7131 ACME 0.360 0.040 32 0.358 17.48 — 78.7 9.738 6.568 9.250 8.840 4731 SCIENTX 8.900 -0.350 42.4 9.052 15.24 1.80 4,304.9
0.975 0.585 0.635 0.605 7191 ADVENTA 0.605 -0.020 45.1 0.622 672.22 — 92.4 0.345 0.250 — — 7239 SCNWOLF 0.280 — — — 147.3 — 24.5
2.307 1.971 2.060 2.060 9148 ADVPKG 2.060 0.040 0.1 2.060 23.57 2.91 42.2 0.525 0.180 0.335 0.305 7366 SCOMIEN 0.315 -0.015 1228 0.313 — — 107.8
0.220 0.135 0.170 0.160 7146 AEM 0.165 -0.005 602.9 0.166 206.25 — 49.4 1.660 0.690 0.910 0.885 7073 SEACERA 0.905 -0.010 3306 0.895 69.62 — 319.5
0.580 0.375 — — 5198 AFUJIYA 0.580 — — — 21.40 — 104.4 0.215 0.125 0.205 0.175 5145 SEALINK 0.185 -0.020 457.2 0.196 — — 92.5
0.595 0.380 — — 2682 AISB 0.415 — — — 5.16 — 59.9 0.765 0.300 0.535 0.500 5163 SEB 0.535 0.025 157 0.523 7.50 — 42.8
0.913 0.580 0.685 0.655 7609 AJIYA 0.660 -0.015 506.7 0.671 11.91 3.03 201.0 1.410 0.388 1.170 1.110 5181 SIGGAS 1.110 -0.020 2060 1.138 46.84 1.08 208.1
* Volume Weighted Average Price # PE is calculated based on latest 12 months reported Earnings Per Share
2 6 Markets WEDN ESDAY JAN UARY 1 0 , 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY

BURSA MAL AYSIA MAIN MARKET

YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP
HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL) HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL)
1.040 0.630 — — 7115 SKBSHUT 0.720 — — — 8.79 — 28.8 5.590 2.578 5.380 5.310 7668 HAIO 5.340 -0.040 416.3 5.347 21.14 2.68 1,602.6
2.350 1.199 2.350 2.270 7155 SKPRES 2.300 -0.050 4048.2 2.297 21.00 1.80 2,875.4 0.335 0.205 0.265 0.245 7253 HANDAL 0.255 -0.005 199.5 0.256 — — 40.8
2.201 1.470 1.530 1.470 7248 SLP 1.490 -0.060 35.9 1.498 19.05 2.64 472.3 9.790 8.217 9.620 9.530 3034 HAPSENG 9.550 UNCH 525.1 9.567 22.30 3.66 23,776.5
0.700 0.480 — — 7132 SMISCOR 0.490 — — — — — 22.0 0.876 0.646 0.815 0.800 2062 HARBOUR 0.815 UNCH 422 0.808 11.10 1.84 326.3
2.580 1.129 2.260 2.170 5665 SSTEEL 2.200 -0.090 894.9 2.213 7.35 1.36 952.4 4.200 3.013 4.070 3.960 5008 HARISON 3.960 -0.140 11.7 3.982 12.18 6.31 271.2
0.300 0.065 0.220 0.210 7143 STONE 0.210 -0.005 130 0.211 — — 18.9 1.560 0.396 1.560 1.540 0185 HSSEB 1.560 0.010 728.3 1.554 30.65 0.51 497.8
1.550 1.170 — — 6904 SUBUR 1.260 — — — — — 263.3 0.195 0.050 0.145 0.140 7013 HUBLINE 0.140 -0.005 20866.2 0.142 — — 300.7
2.128 1.200 1.270 1.260 7207 SUCCESS 1.270 0.010 102.7 1.268 7.37 1.97 315.6 0.480 0.210 0.300 0.280 5255 ICON 0.285 -0.010 7307.3 0.289 — — 335.5
2.945 1.756 2.110 2.050 7235 SUPERLN 2.110 0.060 343.9 2.082 16.92 1.18 337.6 6.418 5.420 5.880 5.800 5225 IHH 5.830 -0.010 4491.8 5.833 59.31 0.51 48,034.0
2.390 1.664 2.390 2.090 7106 SUPERMX 2.310 0.230 22231.3 2.204 20.46 2.38 1,571.2 0.915 0.600 0.640 0.640 5614 ILB 0.640 -0.010 6 0.640 — — 124.8
4.153 3.344 3.590 3.540 5012 TAANN 3.560 0.010 134.8 3.564 12.39 4.21 1,583.6 0.905 0.670 0.880 0.840 5673 IPMUDA 0.880 0.035 20.1 0.843 — — 63.8
0.415 0.250 0.370 0.355 5149 TAS 0.360 -0.010 396.2 0.359 — — 64.8 2.166 1.650 — — 0058 JCBNEXT 1.770 — — — 30.62 1.13 247.2
13.373 11.840 12.000 11.980 4448 TASEK 12.000 0.020 8.9 11.98 161.07 10.00 1,483.5 0.400 0.290 0.355 0.355 8672 KAMDAR 0.355 0.005 10 0.355 11.72 — 70.3
0.290 0.105 0.205 0.190 5178 TATGIAP 0.200 UNCH 2846.3 0.196 — — 34.1 1.862 1.560 1.640 1.630 6491 KFIMA 1.630 -0.010 52 1.631 21.06 5.52 460.0
1.480 0.340 1.160 1.140 7097 TAWIN 1.160 -0.010 880 1.158 6.56 — 74.6 0.900 0.291 0.895 0.870 0151 KGB 0.870 -0.025 1136.2 0.879 15.90 1.15 200.0
2.690 1.300 — — 7439 TECGUAN 1.370 — — — — — 54.9 1.680 0.850 — — 5035 KNUSFOR 0.925 — — — — — 92.2
4.803 4.010 4.150 4.120 7034 TGUAN 4.120 -0.020 90.4 4.130 9.23 2.91 557.3 1.140 0.900 0.990 0.970 5878 KPJ 0.980 0.010 1217.5 0.977 22.69 1.82 4,195.8
2.140 1.500 1.650 1.590 7374 TIENWAH 1.630 0.050 73 1.625 9.97 6.13 235.9 1.678 1.080 1.400 1.340 5843 KPS 1.340 -0.030 178.8 1.368 17.59 4.66 668.7
0.800 0.550 0.640 0.640 7854 TIMWELL 0.640 UNCH 8.9 0.640 145.45 — 57.0 0.570 0.500 0.525 0.520 9121 KPSCB 0.520 UNCH 127 0.521 9.08 — 76.9
1.069 0.935 0.975 0.965 7285 TOMYPAK 0.970 -0.010 56 0.970 16.55 3.30 407.0 0.225 0.125 0.155 0.145 4847 KTB 0.145 -0.010 375 0.147 — — 58.4
4.292 1.811 4.160 4.020 5010 TONGHER 4.020 -0.070 93.3 4.035 10.04 9.45 632.9 0.628 0.370 0.540 0.505 6874 KUB 0.535 0.025 16376.9 0.527 12.00 1.87 297.7
9.250 4.512 9.230 8.940 7113 TOPGLOV 8.990 -0.170 3780.6 9.032 31.24 1.61 11,303.3 0.355 0.210 0.225 0.225 7170 LFECORP 0.225 0.005 86.5 0.225 — — 41.8
0.850 0.500 0.700 0.600 7173 TOYOINK 0.700 0.100 8.5 0.613 — — 74.9 0.835 0.435 0.775 0.750 8486 LIONFIB 0.750 -0.020 132.1 0.763 6.29 — 173.7
0.230 0.155 0.210 0.200 4359 TURIYA 0.200 -0.010 70.1 0.202 1000.0 — 45.7 0.890 0.720 0.825 0.800 5143 LUXCHEM 0.805 -0.015 1004.6 0.813 14.88 2.89 680.1
3.410 1.604 3.330 3.170 7100 UCHITEC 3.330 0.170 2027.7 3.246 22.78 4.50 1,495.8 0.372 0.165 0.235 0.220 5078 M&G 0.225 -0.005 1301.3 0.226 — 22.22 162.9
4.930 3.300 3.390 3.300 7133 ULICORP 3.300 UNCH 48.5 3.318 19.84 3.64 479.2 2.114 1.605 1.870 1.790 3859 MAGNUM 1.820 -0.030 1323.8 1.818 13.09 7.14 2,616.7
1.347 1.040 1.120 1.120 7227 UMSNGB 1.120 -0.010 7 1.120 11.18 2.68 89.6 1.309 0.860 1.070 1.000 5264 MALAKOF 1.040 0.020 29329.1 1.030 2.12 5.77 5,200.0
1.680 0.640 0.690 0.675 4995 VERSATL 0.675 -0.010 284.1 0.677 43.83 — 79.2 0.179 0.135 0.145 0.140 3514 MARCO 0.145 UNCH 478.5 0.140 9.48 3.45 152.9
3.160 1.379 3.130 2.990 6963 VS 3.130 0.100 7275.3 3.055 22.57 1.98 4,069.3 6.437 5.387 6.070 6.000 6012 MAXIS 6.030 -0.020 2941.5 6.029 21.45 3.32 47,097.7
1.360 0.810 1.350 1.300 5142 WASEONG 1.300 -0.040 457.3 1.312 — 0.38 1,007.4 0.955 0.670 0.875 0.845 5077 MAYBULK 0.845 -0.020 509.8 0.857 — — 845.0
0.465 0.320 0.375 0.320 7226 WATTA 0.340 0.020 146.1 0.321 — — 28.7 2.576 2.010 2.470 2.400 5983 MBMR 2.410 0.010 479.5 2.446 18.65 1.87 942.0
2.210 1.724 1.920 1.900 7111 WEIDA 1.920 0.010 61 1.912 20.82 1.56 256.0 1.232 0.580 0.800 0.760 4502 MEDIA 0.760 -0.020 2307 0.779 — 10.53 843.0
1.639 1.450 1.480 1.450 7231 WELLCAL 1.460 -0.020 937.9 1.464 20.11 4.23 727.0 0.603 0.370 0.425 0.415 5090 MEDIAC 0.415 0.005 255.5 0.418 1.82 6.02 700.2
1.420 0.600 1.170 1.140 7050 WONG 1.150 -0.020 274.7 1.152 17.24 — 105.4 0.739 0.297 0.510 0.470 7234 MESB 0.475 -0.025 2852.5 0.493 — — 38.9
0.700 0.500 — — 7025 WOODLAN 0.580 — — — 28.43 — 23.2 3.978 2.249 3.820 3.780 3069 MFCB 3.790 -0.010 378.7 3.798 9.54 1.32 1,556.9
1.970 1.871 — — 5009 WTHORSE 1.970 — — — 17.78 5.08 472.8 1.160 0.625 0.965 0.905 5186 MHB 0.915 -0.030 2883.4 0.928 — — 1,464.0
1.037 0.690 0.765 0.750 4243 WTK 0.755 0.005 1001.8 0.756 — 2.65 363.4 7.900 6.960 7.680 7.470 3816 MISC 7.550 0.060 1375.8 7.552 13.81 4.11 33,701.6
1.380 0.970 1.010 0.980 7245 WZSATU 0.985 -0.005 304.6 0.988 13.44 2.03 343.6 2.606 1.770 2.300 2.050 2194 MMCCORP 2.200 0.150 4401.8 2.134 16.44 1.82 6,699.1
0.845 0.720 0.785 0.770 5048 YILAI 0.780 0.005 109.3 0.777 — — 124.8 0.430 0.225 0.410 0.400 0059 MMODE 0.405 -0.005 1430.7 0.406 — — 65.9
0.285 0.155 0.190 0.185 7020 YKGI 0.190 UNCH 370.4 0.186 — — 66.2 0.100 0.040 0.060 0.055 0043 MTRONIC 0.060 UNCH 1561.5 0.055 — — 57.0
0.692 0.380 0.425 0.405 7014 YLI 0.405 -0.025 62 0.411 — 1.23 41.7 0.280 0.130 0.240 0.235 3891 MUIIND 0.235 -0.005 7062.6 0.235 — — 689.2
CONSTRUCTION 3.050 2.090 2.610 2.580 3905 MULPHA 2.600 0.010 197.7 2.596 3.44 — 831.0
1.210 0.728 0.940 0.905 5281 ADVCON 0.905 -0.030 594.2 0.919 12.82 — 363.9 2.650 1.934 2.630 2.530 0138 MYEG 2.600 -0.030 25130.8 2.590 43.48 0.65 9,376.4
0.750 0.310 0.400 0.400 7007 ARK 0.400 UNCH 5 0.400 — — 19.5 1.610 1.340 1.460 1.430 5275 MYNEWS 1.440 UNCH 167.3 1.449 30.51 0.69 982.3
1.200 0.609 1.060 0.995 7078 AZRB 1.030 0.020 1522.6 1.029 13.04 1.46 547.5 0.910 0.540 0.565 0.540 9806 NATWIDE 0.540 -0.030 73.2 0.553 — — 64.9
0.625 0.370 0.430 0.410 5190 BENALEC 0.415 UNCH 1949.2 0.419 68.03 0.96 336.9 0.495 0.350 0.380 0.370 7241 NGGB 0.380 0.010 1336.3 0.376 — — 174.2
0.485 0.325 0.375 0.360 5932 BPURI 0.365 -0.005 677.4 0.368 48.67 — 97.5 0.140 0.050 0.070 0.065 4464 NICORP 0.065 UNCH 2897.4 0.065 — — 57.0
1.140 0.777 1.040 1.040 8761 BREM 1.040 UNCH 119.8 1.040 18.71 1.44 359.3 0.828 0.580 0.625 0.625 5533 OCB 0.625 UNCH 19.2 0.625 26.60 1.60 64.3
1.220 0.875 0.915 0.895 8591 CRESBLD 0.910 UNCH 349.9 0.907 6.62 4.40 161.0 0.985 0.750 0.910 0.890 0172 OCK 0.910 0.005 1435.2 0.909 26.84 1.10 793.0
2.086 1.437 — — 7528 DKLS 1.750 — — — 3.75 1.71 162.2 3.407 1.782 3.100 3.080 5201 OLDTOWN 3.100 0.020 1498.4 3.096 21.39 2.26 1,436.0
1.410 1.180 1.410 1.300 5253 ECONBHD 1.310 -0.020 9637.1 1.357 20.50 1.37 1,752.1 0.210 0.085 0.135 0.130 3018 OLYMPIA 0.135 UNCH 1463.4 0.133 4.31 — 138.2
1.488 0.871 1.180 1.120 8877 EKOVEST 1.130 -0.030 17885.3 1.142 21.04 1.77 2,417.3 2.350 1.120 1.490 1.420 5260 OWG 1.450 -0.040 1406.7 1.449 55.77 — 373.4
0.992 0.540 0.925 0.900 7047 FAJAR 0.915 UNCH 1530.8 0.914 8.41 2.73 341.0 0.498 0.380 0.420 0.410 8419 PANSAR 0.420 0.005 323.1 0.416 18.50 2.38 117.6
1.335 0.994 1.180 1.130 9261 GADANG 1.150 -0.020 2568.1 1.158 6.50 2.61 757.5 0.734 0.436 0.670 0.650 5125 PANTECH 0.655 -0.005 761.8 0.658 11.47 2.75 487.7
5.392 4.573 5.020 4.960 5398 GAMUDA 5.000 0.020 5498.3 4.988 18.96 2.40 12,277.8 0.735 0.505 0.570 0.540 5657 PARKSON 0.540 -0.025 787 0.551 — — 590.7
2.150 0.881 2.150 2.060 5226 GBGAQRS 2.100 -0.040 1833.6 2.117 20.57 0.24 948.7 1.288 1.086 1.210 1.200 5041 PBA 1.200 UNCH 19.7 1.204 7.00 3.33 397.5
0.920 0.510 0.640 0.600 5169 HOHUP 0.600 -0.020 504.9 0.619 5.56 — 224.9 0.150 0.099 0.135 0.120 6254 PDZ 0.130 -0.005 5351.9 0.125 — — 84.8
1.736 1.390 1.470 1.450 6238 HSL 1.470 UNCH 19.5 1.462 18.54 1.63 856.5 1.250 0.740 0.935 0.915 5133 PENERGY 0.920 -0.005 184.2 0.923 — 2.17 296.0
3.518 2.700 3.030 2.990 3336 IJM 3.030 0.020 3819.4 3.012 17.90 2.48 10,994.7 0.660 0.285 0.545 0.485 7108 PERDANA 0.520 0.010 39313.2 0.518 — — 404.8
0.740 0.525 0.590 0.580 5268 IKHMAS 0.590 0.005 372.8 0.585 22.43 0.85 312.9 0.090 0.025 0.060 0.045 0047 PERISAI 0.050 -0.005 72185.1 0.051 — — 63.0
0.405 0.275 0.390 0.370 0192 INTA 0.380 -0.005 5621.1 0.380 0.91 — 203.4 0.420 0.135 0.290 0.275 7080 PERMAJU 0.280 UNCH 3282.3 0.282 — — 54.9
0.680 0.532 0.680 0.665 8834 IREKA 0.680 0.005 86.3 0.676 — 2.94 127.0 2.000 1.510 1.970 1.830 5219 PESTECH 1.920 -0.040 1238.4 1.915 18.79 — 1,467.4
1.790 1.010 1.680 1.640 4723 JAKS 1.650 -0.030 1323.6 1.650 — — 813.0 25.500 20.824 25.500 25.120 5681 PETDAG 25.140 -0.020 1435.5 25.19 22.93 3.10 24,975.4
0.500 0.240 0.280 0.270 9083 JETSON 0.280 0.010 1395.9 0.276 — — 57.9 0.250 0.030 — — 7027 PETONE 0.055 — — — 3.53 — 2.8
4.320 2.144 4.160 4.100 7161 KERJAYA 4.120 -0.020 841.5 4.128 17.52 1.33 2,325.9 5.085 3.650 4.190 4.140 7081 PHARMA 4.180 UNCH 59.5 4.179 34.75 3.83 1,086.1
2.430 2.000 2.300 2.290 5171 KIMLUN 2.300 UNCH 108.4 2.300 10.33 2.83 737.5 0.189 0.120 0.130 0.130 7201 PICORP 0.130 -0.005 92 0.130 — 4.69 85.5
1.680 1.300 1.300 1.300 9628 LEBTECH 1.300 -0.100 0.2 1.300 77.38 — 177.4 0.420 0.230 0.260 0.260 7163 PJBUMI 0.260 UNCH 2.1 0.260 — — 21.3
1.000 0.710 0.760 0.760 5129 MELATI 0.760 UNCH 6.8 0.760 37.44 1.32 91.2 5.665 3.833 5.380 5.220 4634 POS 5.350 UNCH 563.6 5.288 41.76 2.00 4,187.9
2.560 1.200 1.950 1.940 8192 MERCURY 1.940 -0.010 8.3 1.946 6.69 6.19 78.0 2.416 1.190 1.910 1.780 5204 PRESBHD 1.840 -0.040 2585.7 1.822 59.55 1.63 890.6
0.575 0.280 0.370 0.360 5006 MERGE 0.365 0.015 10.2 0.363 — — 24.5 2.180 1.270 1.340 1.300 8346 PRKCORP 1.340 -0.050 22 1.324 — — 134.0
1.860 0.835 1.860 1.820 7595 MGB 1.850 0.050 1071.7 1.847 30.88 — 910.1 0.871 0.685 0.760 0.730 5272 RANHILL 0.735 -0.015 609.9 0.741 8.78 9.52 652.9
1.407 0.740 0.960 0.910 9571 MITRA 0.950 -0.005 5738.8 0.938 5.90 5.26 655.0 0.360 0.255 0.320 0.300 0037 RGB 0.300 -0.005 35845.2 0.307 14.85 2.00 402.2
0.425 0.210 0.270 0.265 5924 MTDACPI 0.270 0.010 71.9 0.269 — — 62.5 1.447 0.755 0.950 0.925 5278 RHONEMA 0.950 0.010 103.1 0.932 16.99 4.21 157.7
1.670 0.780 0.930 0.900 5085 MUDAJYA 0.905 -0.025 809.8 0.907 — — 547.9 0.687 0.390 0.520 0.495 8567 SALCON 0.495 -0.020 4300.7 0.505 — — 335.5
3.360 2.281 3.360 3.230 5703 MUHIBAH 3.230 -0.070 3791.3 3.274 12.17 1.70 1,557.2 1.140 0.754 1.140 1.100 5147 SAMCHEM 1.100 UNCH 3578.5 1.115 14.67 3.41 299.2
0.724 0.435 0.530 0.505 8311 PESONA 0.510 0.015 3306 0.516 15.74 3.92 354.4 0.315 0.120 0.230 0.215 9113 SANBUMI 0.220 0.005 138 0.217 — — 49.8
1.222 0.900 1.160 1.090 5070 PRTASCO 1.100 -0.040 2716 1.114 21.32 5.45 467.2 2.100 0.665 1.050 0.910 5218 SAPNRG 0.935 -0.040 388284 0.966 — 1.07 5,602.7
0.215 0.110 0.155 0.145 7145 PSIPTEK 0.155 UNCH 781.8 0.150 14.09 — 54.0 2.338 1.580 1.710 1.680 0099 SCICOM 1.690 0.010 154.6 1.693 13.32 5.33 600.7
4.137 3.209 3.780 3.780 9598 PTARAS 3.780 UNCH 26.1 3.780 23.19 5.29 624.1 0.215 0.100 0.180 0.170 7158 SCOMI 0.175 UNCH 7648.5 0.171 — — 335.6
1.140 0.600 0.750 0.715 6807 PUNCAK 0.720 -0.005 4339.6 0.733 — — 323.5 0.270 0.090 0.170 0.155 7045 SCOMIES 0.160 UNCH 18215.7 0.163 — — 374.7
1.390 0.505 0.915 0.870 5205 SENDAI 0.870 -0.025 10073.3 0.895 — — 679.6 1.160 0.930 1.150 1.150 7053 SEEHUP 1.150 0.030 5 1.150 — — 92.5
2.640 1.620 2.640 2.530 5263 SUNCON 2.600 0.080 6961.1 2.592 24.34 2.12 3,361.5 0.730 0.598 0.660 0.635 9792 SEG 0.655 UNCH 233.8 0.649 21.98 5.34 828.1
0.415 0.240 0.270 0.265 9717 SYCAL 0.270 -0.005 208.5 0.269 17.65 — 93.8 1.750 1.120 1.540 1.520 5250 SEM 1.540 UNCH 151.8 1.531 39.19 1.49 1,899.4
0.860 0.374 0.735 0.710 5054 TRC 0.730 0.010 699.6 0.723 10.44 2.60 350.8 3.600 1.465 3.490 3.350 5279 SERBADK 3.400 -0.090 5399.8 3.417 12.85 — 4,539.0
2.450 1.500 2.300 2.280 5622 TRIPLC 2.280 -0.020 103.3 2.283 10.37 — 157.2 2.960 2.040 2.850 2.640 4197 SIME 2.690 -0.100 35931.8 2.701 11.53 8.55 18,294.3
0.825 0.450 0.535 0.530 5042 TSRCAP 0.535 0.005 30 0.531 13.82 — 93.3 0.720 0.600 0.620 0.615 9431 SJC 0.615 -0.005 14 0.620 — 1.63 24.9
0.185 0.110 0.185 0.170 7070 VIZIONE 0.175 -0.005 17964 0.177 109.38 — 619.2 0.588 0.320 0.350 0.325 5242 SOLID 0.345 0.010 119.3 0.339 35.57 0.99 134.8
1.680 0.910 1.310 1.230 3565 WCEHB 1.290 -0.030 738.6 1.277 35.44 — 1,293.5 2.151 1.310 1.570 1.490 6084 STAR 1.490 -0.040 1018.5 1.518 4.22 10.07 1,100.5
2.467 1.460 1.820 1.750 9679 WCT 1.780 -0.050 5246.4 1.778 24.28 — 2,519.7 3.079 2.312 2.500 2.500 9865 SUIWAH 2.500 UNCH 0.4 2.500 13.11 0.40 152.5
0.805 0.535 0.775 0.750 7028 ZECON 0.755 -0.005 453.6 0.761 7.17 — 98.9 0.100 0.045 0.070 0.060 1201 SUMATEC 0.065 0.005 263728 0.066 — — 276.4
0.185 0.095 0.145 0.125 2283 ZELAN 0.125 -0.015 4959.7 0.136 — — 105.6 1.918 1.580 1.810 1.760 5211 SUNWAY 1.770 -0.040 2668.2 1.781 13.22 2.66 8,705.8
TRADING SERVICES 2.257 1.820 1.940 1.900 6521 SURIA 1.930 0.010 26.8 1.927 10.60 3.63 556.2
0.550 0.325 0.400 0.365 5238 AAX 0.400 0.030 75718.1 0.387 53.33 — 1,659.3 0.345 0.220 0.245 0.240 5173 SYSCORP 0.240 -0.005 640 0.242 24.24 — 288.0
0.290 0.135 0.245 0.220 5166 AEGB 0.240 0.005 6253.3 0.234 — — 297.6 0.490 0.315 0.480 0.455 7228 T7GLOBAL 0.465 -0.015 4314 0.464 16.20 — 195.0
2.664 1.640 1.720 1.680 6599 AEON 1.690 -0.010 347.3 1.695 28.36 1.78 2,372.8 1.691 1.002 1.100 1.070 8524 TALIWRK 1.090 -0.010 1487.8 1.081 24.17 7.34 1,318.3
0.435 0.165 0.275 0.265 7315 AHB 0.265 -0.015 977.9 0.271 4.76 — 46.7 2.667 1.487 2.180 2.130 5140 TASCO 2.130 -0.030 121.5 2.147 13.02 2.11 426.0
3.760 2.014 3.760 3.600 5099 AIRASIA 3.740 0.150 26358.9 3.697 6.79 4.81 12,499.0 15.940 12.465 15.940 15.820 5347 TENAGA 15.880 0.180 19750 15.86 13.01 3.84 89,975.9
9.400 5.927 9.400 8.950 5014 AIRPORT 9.050 -0.050 3654.4 9.127 81.61 1.22 15,015.7 1.404 0.829 0.930 0.910 8702 TEXCHEM 0.910 -0.005 81.7 0.915 34.73 10.99 112.9
0.370 0.110 0.215 0.195 5115 ALAM 0.200 -0.010 11970.4 0.205 — — 184.9 0.180 0.045 0.125 0.120 7206 THHEAVY 0.120 UNCH 12090.4 0.122 — — 134.5
0.140 0.070 0.100 0.095 0159 AMEDIA 0.095 UNCH 190 0.096 — — 22.7 6.586 5.707 6.200 6.020 4863 TM 6.100 -0.080 1474.9 6.098 28.36 3.54 22,923.4
7.964 6.953 7.600 7.510 6351 AMWAY 7.510 -0.050 67.3 7.537 24.36 2.66 1,234.5 0.985 0.730 0.845 0.830 0101 TMCLIFE 0.845 UNCH 329.9 0.837 56.33 0.20 1,467.2
2.340 2.120 — — 7083 ANALABS 2.150 — — — 13.52 1.51 129.1 1.806 1.290 1.360 1.350 8397 TNLOGIS 1.350 -0.010 54.5 1.359 8.36 1.48 621.4
0.055 0.015 0.030 0.025 5194 APFT 0.030 UNCH 65264.6 0.030 — — 40.3 1.060 0.450 — — 7218 TOCEAN 0.580 — — — — — 23.8
0.900 0.605 0.900 0.860 5210 ARMADA 0.870 -0.020 40409.5 0.884 — — 5,103.7 1.000 0.730 — — 5167 TURBO 0.770 — — — 19.79 — 83.2
0.220 0.105 0.155 0.150 1481 ASB 0.155 UNCH 1387.2 0.154 46.97 1.61 105.1 2.892 2.470 2.640 2.500 7137 UMS 2.640 -0.090 2.6 2.513 19.20 2.27 107.4
2.906 2.415 2.790 2.700 6399 ASTRO 2.750 -0.030 6846.2 2.755 19.52 4.18 14,338.2 0.905 0.270 0.480 0.410 5243 UMWOG 0.425 -0.030 425884 0.437 — — 2,974.5
4.780 3.954 4.280 4.200 7048 ATLAN 4.280 UNCH 3.2 4.229 21.59 2.57 1,085.6 1.294 0.995 1.070 1.060 7091 UNIMECH 1.060 0.010 42 1.065 15.30 2.83 139.1
0.365 0.280 0.330 0.325 8885 AVI 0.325 UNCH 37 0.328 — — 279.0 0.730 0.350 0.450 0.410 5754 UTUSAN 0.445 0.050 169.2 0.439 — — 49.3
1.168 0.880 0.920 0.905 7579 AWC 0.910 -0.010 378.6 0.914 11.18 2.20 247.2 1.980 1.260 1.510 1.440 7250 UZMA 1.450 -0.040 1851.6 1.467 13.86 — 464.0
5.820 4.175 5.680 5.590 6888 AXIATA 5.630 -0.050 7828.7 5.634 87.42 1.42 50,940.2 1.240 0.600 1.100 1.080 7240 VERTICE 1.090 -0.010 143.5 1.088 — — 158.3
0.653 0.329 0.445 0.435 5021 AYS 0.440 -0.005 646.5 0.439 6.84 5.68 167.4 2.140 1.695 — — 5016 WARISAN 2.000 — — — 38.68 1.50 134.4
0.740 0.285 0.385 0.355 7251 BARAKAH 0.360 -0.010 10127.8 0.367 — — 297.5 0.620 0.450 — — 7692 WIDETEC 0.575 — — — 23.96 — 25.7
2.470 1.823 2.470 2.320 5248 BAUTO 2.370 0.050 7518.9 2.374 30.86 3.80 2,741.4 4.156 3.340 3.590 3.510 5246 WPRTS 3.530 -0.050 1232.5 3.534 20.22 3.70 12,037.3
0.280 0.160 0.185 0.180 6998 BINTAI 0.180 -0.005 404.4 0.183 — — 52.1 1.448 1.020 1.220 1.180 5267 XINHWA 1.190 -0.040 744.4 1.196 25.05 0.84 257.0
6.278 5.662 6.000 6.000 5032 BIPORT 6.000 UNCH 18 6.000 18.13 3.50 2,760.0 0.075 0.020 0.025 0.025 7122 YFG 0.025 UNCH 432.9 0.025 — — 15.2
0.415 0.320 0.370 0.355 3395 BJCORP 0.360 -0.005 9873.3 0.363 — — 1,772.5 4.400 2.854 4.280 4.150 7293 YINSON 4.160 -0.130 546.5 4.211 15.82 0.96 4,546.0
1.943 1.371 1.900 1.870 5196 BJFOOD 1.870 -0.030 180.7 1.875 55.82 2.50 713.1 1.470 1.090 1.440 1.390 4677 YTL 1.440 0.020 8035 1.421 19.33 3.47 15,711.2
0.660 0.350 0.370 0.365 4219 BJLAND 0.365 -0.010 275.3 0.370 34.11 — 1,825.1 FINANCE
0.470 0.185 — — 6025 BJMEDIA 0.280 — — — — — 65.8 4.302 3.539 4.130 4.060 2488 ABMB 4.100 -0.040 680.1 4.102 12.45 3.90 6,347.2
2.884 2.213 2.330 2.300 1562 BJTOTO 2.330 0.010 767.7 2.316 12.45 6.01 3,147.9 14.600 11.782 13.780 13.600 5139 AEONCR 13.620 -0.080 91.2 13.67 67.76 3.14 3,375.8
0.135 0.080 0.100 0.090 7036 BORNOIL 0.095 0.005 252284 0.096 18.27 — 480.9 2.888 2.193 2.550 2.500 5185 AFFIN 2.510 -0.030 341.1 2.523 9.50 2.79 4,876.8
0.875 0.400 0.500 0.480 9474 BRAHIMS 0.485 -0.010 138 0.483 — — 114.6 15.600 10.047 13.240 13.220 1163 ALLIANZ 13.220 -0.020 7.4 13.22 7.89 0.68 2,308.0
3.038 2.457 2.880 2.850 2771 BSTEAD 2.870 UNCH 231.3 2.865 11.37 4.18 5,817.5 5.485 4.011 4.660 4.480 1015 AMBANK 4.480 -0.200 5026.6 4.571 10.29 3.93 13,503.5
0.620 0.280 0.445 0.380 5257 CARIMIN 0.420 -0.015 1624.1 0.421 — — 98.2 1.950 1.263 — — 5088 APEX 1.600 — — — 23.09 3.13 341.7
2.200 1.278 2.090 2.080 5245 CARING 2.080 -0.020 53.5 2.080 28.93 1.44 452.8 4.461 4.074 4.350 4.250 5258 BIMB 4.260 -0.030 676 4.266 11.34 3.29 6,976.8
3.063 1.980 2.170 2.080 2925 CCB 2.170 0.040 3.3 2.104 28.55 2.30 218.6 10.880 7.782 10.880 10.660 1818 BURSA 10.660 -0.100 542.4 10.73 26.22 3.47 5,729.8
1.440 0.870 1.120 1.070 7117 CENTURY 1.070 -0.030 686.3 1.094 23.11 2.80 420.3 6.937 4.516 6.850 6.710 1023 CIMB 6.750 -0.070 19027.6 6.760 14.13 3.70 62,272.4
0.540 0.376 0.540 0.485 7209 CHEETAH 0.485 -0.005 33.1 0.527 85.09 1.24 61.9 0.705 0.325 — — 2143 ECM 0.530 — — — 189.2 — 151.9
1.468 0.834 1.240 1.190 5273 CHINHIN 1.200 -0.030 333 1.204 15.67 3.33 667.7 1.220 1.150 1.200 1.200 5228 ELKDESA 1.200 UNCH 28 1.200 12.18 5.63 358.1
0.675 0.442 0.510 0.500 7016 CHUAN 0.505 0.015 380.2 0.501 12.66 3.56 85.2 17.800 12.666 17.800 17.400 5819 HLBANK 17.600 UNCH 737.5 17.59 16.07 2.56 38,151.8
0.150 0.065 0.120 0.115 5104 CNI 0.120 UNCH 3877.5 0.118 — — 86.4 10.100 7.327 — — 5274 HLCAP 9.790 — — — 29.92 1.94 2,417.1
1.240 0.655 0.720 0.705 5136 COMPLET 0.715 -0.015 204.1 0.709 12.54 — 88.5 17.980 14.330 17.980 17.500 1082 HLFG 17.940 UNCH 96.5 17.935 13.03 2.12 20,586.5
0.045 0.020 0.040 0.035 5037 COMPUGT 0.035 -0.005 5524.4 0.036 — — 82.2 1.140 0.716 1.020 0.990 3379 INSAS 0.995 -0.015 1832.4 1.000 4.07 1.01 689.9
2.820 2.024 2.730 2.660 5184 CYPARK 2.690 -0.010 510.9 2.686 12.27 1.93 702.7 0.400 0.165 0.360 0.345 3441 JOHAN 0.350 -0.010 3027.3 0.351 — — 218.0
0.865 0.410 0.515 0.490 5276 DANCO 0.490 0.005 1397.4 0.499 11.61 3.06 146.0 0.690 0.429 0.630 0.605 6483 KENANGA 0.620 0.010 804.6 0.618 31.31 3.63 448.0
0.105 0.055 0.090 0.080 0091 DAYA 0.085 UNCH 14525 0.085 — — 173.7 19.302 15.843 19.080 18.820 8621 LPI 18.860 -0.140 35.7 18.90 20.05 4.35 6,261.3
0.880 0.535 0.880 0.810 5141 DAYANG 0.850 0.030 10656.8 0.852 — — 820.1 0.857 0.765 0.785 0.775 1198 MAA 0.775 -0.005 53.7 0.779 8.64 11.61 212.0
1.180 0.746 1.180 1.090 5132 DELEUM 1.110 -0.050 1231.3 1.129 15.48 2.93 444.2 3.320 2.895 3.290 3.290 1058 MANULFE 3.290 UNCH 4 3.290 13.46 3.19 665.8
0.840 0.425 0.670 0.635 7212 DESTINI 0.650 0.025 24361.6 0.650 20.44 — 750.9 9.850 7.599 9.850 9.800 1155 MAYBANK 9.830 -0.020 14592.6 9.831 12.96 5.60 106,114
2.780 1.492 2.740 2.670 7277 DIALOG 2.700 -0.020 13561.1 2.691 32.97 0.98 15,232.4 1.380 0.899 1.250 1.180 1171 MBSB 1.230 -0.010 8821.8 1.221 21.17 2.44 7,287.0
5.292 3.940 3.970 3.950 5908 DKSH 3.970 0.020 7 3.961 12.58 2.39 625.9 2.840 2.190 2.440 2.410 6459 MNRB 2.440 0.020 134 2.428 7.31 — 779.8
0.683 0.257 0.565 0.535 4456 DNEX 0.540 -0.015 31032.3 0.546 12.83 0.93 947.9 1.830 1.210 1.420 1.370 5237 MPHBCAP 1.390 -0.020 304.8 1.395 14.95 — 993.9
1.335 1.023 1.300 1.240 5216 DSONIC 1.250 -0.030 6342.4 1.269 27.59 3.20 1,687.5 1.340 1.200 1.280 1.280 6009 P&O 1.280 UNCH 32.1 1.280 39.63 6.64 314.8
0.295 0.135 0.160 0.150 2097 EASTLND 0.155 UNCH 1424 0.156 — — 38.1 21.080 19.301 20.980 20.760 1295 PBBANK 20.820 UNCH 6369.1 20.81 14.70 2.83 80,826.1
0.735 0.350 0.455 0.425 5259 EATECH 0.435 -0.005 1921.5 0.438 — — 219.2 1.887 1.376 1.580 1.540 9296 RCECAP 1.570 -0.010 302.7 1.560 6.17 1.91 558.3
0.825 0.210 0.580 0.550 5036 EDARAN 0.565 0.020 561.9 0.569 — — 33.9 5.495 4.710 5.200 5.080 1066 RHBBANK 5.100 -0.090 1394.5 5.107 11.67 2.35 20,451.2
0.290 0.170 0.195 0.185 7471 EDEN 0.195 0.010 762 0.190 — — 60.7 0.708 0.451 0.695 0.665 4898 TA 0.690 0.005 3954.6 0.682 3.24 2.46 1,181.2
3.180 2.213 2.530 2.490 1368 EDGENTA 2.500 UNCH 35.5 2.504 21.20 3.20 2,079.1 4.080 3.226 3.770 3.640 6139 TAKAFUL 3.700 0.070 799.4 3.713 16.04 4.05 3,045.6
0.590 0.240 0.350 0.340 0064 EFFICEN 0.345 -0.005 1189 0.345 — — 244.6 1.620 0.980 1.130 1.080 5230 TUNEPRO 1.090 -0.010 2127.8 1.101 15.12 4.77 819.4
0.955 0.631 0.760 0.740 5081 EIG 0.740 -0.040 26.5 0.751 20.67 4.05 175.5 PROPERTIES
2.087 1.100 1.610 1.600 5208 EITA 1.600 -0.010 137.6 1.609 10.44 2.50 208.0 0.852 0.720 0.790 0.745 1007 AMPROP 0.745 -0.010 94.2 0.762 12.87 4.03 453.5
1.508 1.070 1.140 1.110 5056 ENGTEX 1.120 -0.010 1023.9 1.122 6.76 0.67 496.5 0.409 0.333 0.365 0.365 1007PA AMPROP-PA 0.365 UNCH 8 0.365 — 5.48 105.7
0.605 0.370 0.520 0.515 6939 FIAMMA 0.520 UNCH 1113.6 0.518 11.85 2.88 275.6 1.850 1.050 1.400 1.350 5959 AMVERTON 1.400 UNCH 7.6 1.380 29.35 — 511.1
0.465 0.355 0.435 0.420 9318 FITTERS 0.425 -0.005 2072.9 0.425 — — 204.2 0.230 0.150 0.170 0.165 4057 ASIAPAC 0.170 UNCH 705.2 0.166 10.83 — 175.4
1.423 1.069 1.300 1.280 7210 FREIGHT 1.300 0.010 44 1.297 10.99 3.85 242.0 7.600 6.300 6.500 6.500 2305 AYER 6.500 -0.200 1 6.500 31.06 0.77 486.5
0.505 0.173 0.495 0.475 0128 FRONTKN 0.485 -0.005 10231.1 0.484 16.39 1.03 510.9 0.525 0.420 — — 6602 BCB 0.495 — — — 23.80 — 204.2
0.295 0.160 — — 9377 FSBM 0.230 — — — — — 32.5 0.793 0.595 0.625 0.610 6173 BDB 0.615 -0.005 74 0.615 7.22 7.32 186.9
3.054 2.418 2.980 2.910 5209 GASMSIA 2.980 0.020 530.1 2.969 22.61 4.32 3,826.3 0.610 0.375 — — 9814 BERTAM 0.420 — — — 1.70 — 86.8
0.820 0.575 0.665 0.640 0078 GDEX 0.640 -0.025 2103.9 0.649 96.97 0.39 3,568.8 0.700 0.400 0.435 0.425 3239 BJASSET 0.435 0.005 663.3 0.432 6.73 — 1,112.8
6.259 4.534 5.790 5.650 4715 GENM 5.760 -0.020 5033.8 5.724 13.59 1.77 34,203.1 1.500 1.140 1.270 1.230 5738 CHHB 1.240 -0.040 65.5 1.243 — — 341.9
9.960 7.861 9.550 9.300 3182 GENTING 9.360 -0.140 4287.2 9.401 14.65 1.23 36,052.7 1.673 1.363 1.480 1.460 6718 CRESNDO 1.470 UNCH 239 1.472 9.33 4.08 412.3
0.330 0.185 0.225 0.220 5079 GETS 0.225 UNCH 2.3 0.220 — — 28.4 1.720 1.358 1.650 1.600 5049 CVIEW 1.650 0.050 60.1 1.600 5.86 9.09 165.0
3.770 2.689 3.770 3.660 3204 GKENT 3.720 -0.020 788.3 3.690 18.30 1.93 2,095.4 2.375 2.083 2.230 2.230 5355 DAIMAN 2.230 -0.020 30 2.230 22.19 2.47 473.2
0.555 0.360 0.420 0.405 7676 GUNUNG 0.420 UNCH 90.6 0.406 — — 99.2 0.993 0.477 0.580 0.560 3484 DBHD 0.560 -0.015 681.4 0.576 — — 174.4

* Volume Weighted Average Price # PE is calculated based on latest 12 months reported Earnings Per Share
WED N E S DAY JA N UA RY 1 0 , 20 1 8 • T HEED G E FINA NCIA L DA ILY
Markets 2 7
BURSA MAL AYSIA MAIN MARKET . ACE MARKET

YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP
HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL) HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL)
0.115 0.075 0.090 0.085 7198 DPS 0.090 UNCH 1403.4 0.085 — — 52.9 6.880 1.795 6.840 6.740 0097 VITROX 6.760 -0.060 446.2 6.794 39.03 0.52 3,178.3
2.089 1.350 1.490 1.430 3417 E&O 1.460 -0.010 3713.3 1.464 15.40 2.05 1,937.0 1.750 0.744 1.240 1.210 0008 WILLOW 1.210 -0.020 258.8 1.221 14.15 1.65 300.1
0.325 0.255 0.305 0.300 3557 ECOFIRS 0.300 UNCH 408 0.300 12.82 — 240.9 INFRASTRUCTURE PROJECT COMPANIES
1.720 1.340 1.440 1.390 8206 ECOWLD 1.440 0.040 3910.9 1.410 19.57 — 4,239.9 5.100 4.360 4.870 4.830 6947 DIGI 4.850 -0.020 5807.1 4.849 25.27 2.93 37,708.8
0.920 0.580 0.675 0.660 6076 ENCORP 0.660 -0.015 48.9 0.661 12.69 — 194.0 6.000 5.400 5.560 5.530 6645 LITRAK 5.560 0.010 283.9 5.551 13.53 5.40 2,934.0
3.180 1.940 2.960 2.840 8613 ENRA 2.960 0.120 8.7 2.918 38.49 1.01 403.2 9.900 7.646 9.090 9.010 5031 TIMECOM 9.050 -0.020 501.5 9.051 22.60 2.20 5,262.2
1.300 0.770 1.100 1.070 6815 EUPE 1.100 UNCH 85.6 1.080 — — 140.8 1.443 1.110 1.330 1.310 6742 YTLPOWR 1.320 -0.010 1271.4 1.315 15.46 3.79 10,766.1
0.863 0.400 0.480 0.465 7249 EWEIN 0.470 0.005 1144.6 0.470 10.54 1.06 141.7 CLOSED-END FUNDS
1.360 0.955 1.050 1.010 5283 EWINT 1.040 0.020 2431.4 1.028 — — 2,496.0 2.860 2.390 2.860 2.800 5108 ICAP 2.850 0.050 90.3 2.842 179.25 — 399.0
0.617 0.468 0.500 0.500 6041 FARLIM 0.500 UNCH 14 0.500 7.68 4.00 70.2 EXCHANGE TRADED FUNDS
0.712 0.580 0.615 0.610 5020 GLOMAC 0.610 UNCH 322 0.613 55.45 4.92 444.0 1.140 1.100 — — 0800EA ABFMY1 1.140 — — — — 4.98 1,442.6
0.511 0.363 — — 9962 GMUTUAL 0.410 — — — 10.51 4.88 154.0 2.210 1.835 2.040 2.040 0822EA CIMBA40 2.040 0.030 0.4 2.040 — 3.62 5.5
0.470 0.315 0.360 0.350 1147 GOB 0.350 UNCH 643.3 0.355 25.55 1.43 159.1 1.720 1.370 1.700 1.700 0823EA CIMBC50 1.700 UNCH 0.8 1.700 — — 16.6
0.150 0.090 0.120 0.115 7077 GSB 0.120 UNCH 336.2 0.120 — — 63.4 1.870 1.725 — — 0820EA FBMKLCI-EA 1.870 — — — — 1.76 3.1
1.426 1.092 1.160 1.130 1503 GUOCO 1.140 -0.030 211.1 1.142 6.23 1.75 798.5 1.770 1.705 1.750 1.750 0828EA GOLDETF 1.750 -0.010 2.3 1.750 — — 32.6
1.430 0.829 1.300 1.240 7105 HCK 1.300 UNCH 2.1 1.280 100.00 — 547.5 1.100 1.000 1.050 1.050 0826EA METFAPA 1.050 -0.010 7.6 1.050 — — 20.0
1.210 0.380 0.705 0.700 7010 HOOVER 0.705 UNCH 86.5 0.704 113.71 — 28.2 0.945 0.886 — — 0825EA METFSID 0.905 — — — — 2.59 48.0
1.160 0.595 0.640 0.630 5062 HUAYANG 0.635 UNCH 208.7 0.635 9.98 6.30 223.5 1.180 1.060 1.170 1.160 0821EA MYETFDJ 1.160 -0.010 635.6 1.161 — 1.92 314.9
0.648 0.510 0.550 0.535 4251 IBHD 0.545 -0.005 157.1 0.542 7.74 3.45 549.5 1.175 1.015 1.165 1.160 0824EA MYETFID 1.160 -0.005 430 1.161 — 1.31 51.0
0.990 0.755 0.895 0.895 5084 IBRACO 0.895 0.080 15 0.895 34.56 2.23 444.3 REITS
0.890 0.595 0.700 0.700 9687 IDEAL 0.700 UNCH 15 0.700 4.14 — 77.3 0.963 0.825 0.835 0.825 4952 AHP 0.830 UNCH 78.8 0.829 78.30 5.06 182.6
3.000 2.337 3.000 2.980 1597 IGB 2.990 0.010 5993.7 2.996 13.38 3.34 4,082.2 1.615 1.350 1.400 1.380 5116 ALAQAR 1.380 -0.020 134.4 1.380 16.31 5.47 1,005.0
2.158 1.790 1.940 1.900 5249 IOIPG 1.920 -0.030 7378.3 1.916 10.73 3.13 10,571.8 1.040 0.965 0.980 0.975 5269 ALSREIT 0.975 -0.005 4.4 0.976 11.65 6.41 565.5
0.620 0.315 0.335 0.330 5175 IVORY 0.335 -0.005 274.5 0.332 15.02 — 164.2 0.799 0.670 0.680 0.670 5120 AMFIRST 0.675 UNCH 365.8 0.674 18.80 6.30 463.3
3.290 0.870 1.430 1.400 1589 IWCITY 1.420 -0.010 3377.8 1.415 42.26 — 1,189.1 0.949 0.900 0.910 0.910 5127 ARREIT 0.910 -0.005 39.9 0.910 13.23 6.12 521.6
0.370 0.240 0.330 0.330 8923 JIANKUN 0.330 -0.005 100 0.330 — — 55.1 1.189 1.016 1.130 1.120 5130 ATRIUM 1.120 UNCH 5 1.120 22.00 6.38 136.4
0.143 0.085 0.100 0.095 6769 JKGLAND 0.100 UNCH 885 0.096 10.87 2.30 227.5 1.645 1.400 1.450 1.400 5106 AXREIT 1.400 -0.010 475.6 1.409 15.10 6.24 1,725.3
0.085 0.045 0.075 0.065 3115 KBUNAI 0.070 UNCH 8655.6 0.069 13.46 — 404.4 1.830 1.390 1.470 1.430 5180 CMMT 1.470 0.040 75.2 1.457 19.81 5.69 2,995.5
1.100 0.818 0.905 0.890 7323 KEN 0.895 -0.005 48.2 0.899 3.83 2.79 171.6 1.532 1.140 1.220 1.190 5121 HEKTAR 1.220 UNCH 85.8 1.197 15.33 9.37 563.6
1.330 0.995 1.110 1.100 5038 KSL 1.110 0.010 548 1.107 3.90 — 1,151.6 1.800 1.550 1.610 1.590 5227 IGBREIT 1.600 0.010 654.4 1.596 18.89 5.43 5,621.5
0.268 0.205 0.225 0.215 3174 L&G 0.220 -0.005 8834.1 0.220 7.07 — 644.5 0.991 0.830 0.860 0.850 5280 KIPREIT 0.850 -0.005 263.2 0.851 13.71 4.61 429.5
1.287 1.000 1.040 1.040 8494 LBICAP 1.040 -0.010 2.2 1.040 547.3 10.10 83.9 8.640 7.790 7.830 7.800 5235SS KLCC 7.800 UNCH 281.5 7.810 16.01 4.57 14,081.6
2.480 1.599 2.470 2.430 5789 LBS 2.460 -0.010 462.8 2.442 15.00 1.63 1,691.0 1.320 1.190 1.220 1.200 5123 MQREIT 1.200 -0.010 238.5 1.210 15.35 10.58 1,281.6
0.460 0.235 0.395 0.375 3573 LIENHOE 0.380 0.010 653.5 0.385 — — 137.5 1.866 1.590 1.640 1.620 5212 PAVREIT 1.640 0.030 129.6 1.626 16.60 4.90 4,969.4
1.690 1.180 1.250 1.190 7617 MAGNA 1.250 UNCH 118.5 1.224 — 4.80 418.6 1.900 1.575 1.740 1.720 5176 SUNREIT 1.740 UNCH 146.8 1.731 11.65 5.51 5,124.4
1.590 1.319 1.500 1.480 8583 MAHSING 1.480 UNCH 606.1 1.489 11.08 4.39 3,590.7 1.230 1.104 1.230 1.220 5111 TWRREIT 1.220 0.010 23.1 1.220 18.29 5.68 342.2
1.892 0.653 1.050 1.010 6181 MALTON 1.030 UNCH 3794 1.022 6.35 2.43 543.8 1.796 1.600 1.640 1.610 5110 UOAREIT 1.640 0.030 5.1 1.617 15.83 5.76 693.5
2.280 1.765 2.280 2.210 5236 MATRIX 2.230 -0.040 618.3 2.234 8.79 5.22 1,657.6 1.280 1.065 1.200 1.190 5109 YTLREIT 1.190 -0.010 2631.6 1.200 53.85 5.39 2,028.2
2.200 0.975 2.200 2.100 7189 MBWORLD 2.200 0.120 129.1 2.178 8.86 1.59 346.2 SPAC
1.200 0.755 0.900 0.885 5182 MCT 0.885 UNCH 1590.2 0.886 19.03 — 1,181.3 0.720 0.715 — — 5234 CLIQ 0.720 — — — — — 454.3
0.525 0.395 0.470 0.450 5040 MEDAINC 0.460 UNCH 16 0.462 — — 226.6 0.475 0.430 0.475 0.470 5270 RSENA 0.470 UNCH 523.3 0.473 — — 470.0
0.567 0.480 0.485 0.485 1694 MENANG 0.485 -0.010 13.1 0.485 21.46 — 233.2 0.480 0.475 — — 5241 SONA 0.475 — — — — — 670.1
0.605 0.285 0.390 0.375 8141 MJPERAK 0.385 -0.005 212.1 0.381 — 5.56 99.0
2.539 1.583 1.850 1.800 6114 MKH 1.840 UNCH 466.8 1.826 6.50 2.72 1,078.6
0.360 0.235 0.250 0.245 8893 MKLAND 0.245 -0.005 680.4 0.249 16.12 — 295.8
0.215 0.095 0.135 0.130 6548 MPCORP 0.130 -0.010 111 0.135 — — 37.4
1.536 0.870 1.300 1.220 1651 MRCB 1.230 -0.060 29871.6 1.252 12.04 1.95 5,395.7
1.080 0.525
0.365 0.255
0.585
0.270
0.585
0.260
9539
3913
MUH
MUIPROP
0.585
0.270
-0.010
0.005 419.6
7 0.585 —
0.266 225.00
—
—
33.0
206.3
Ace Market
1.720 1.020 1.270 1.210 5073 NAIM 1.220 -0.030 234.3 1.233 — — 305.0 YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP
2.881 2.192 2.300 2.280 5827 OIB 2.280 -0.100 17.6 2.298 8.45 3.07 330.3 HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL)
1.116 1.020 1.070 1.050 5053 OSK 1.070 UNCH 1459.3 1.065 5.34 4.67 2,242.0
1.890 1.371 1.890 1.840 1724 PARAMON 1.860 0.010 295.2 1.860 5.67 4.57 789.2 CONSUMER PRODUCTS
0.695 0.490 0.595 0.580 6912 PASDEC 0.580 UNCH 52 0.588 — — 165.9 0.285 0.205 0.255 0.245 0179 BIOHLDG 0.245 -0.005 2851.1 0.250 27.84 0.41 198.3
1.983 0.933 1.870 1.800 7055 PLB 1.850 -0.030 15 1.818 50.55 0.43 207.9 0.300 0.190 0.200 0.195 0170 KANGER 0.195 -0.005 1131.1 0.199 18.75 — 155.7
1.766 1.495 1.580 1.560 5075 PLENITU 1.560 -0.020 67 1.568 10.23 2.88 595.2 0.295 0.195 0.230 0.220 0182 LKL 0.220 Unch 745.9 0.221 100.00 1.59 94.3
0.425 0.245 0.380 0.380 2208 PTGTIN 0.380 UNCH 16.5 0.380 — — 131.5 0.450 0.200 0.315 0.305 0148 SUNZEN 0.310 Unch 309.8 0.311 29.52 0.97 149.5
1.270 0.800 0.930 0.845 4596 SAPRES 0.850 -0.030 77.4 0.878 9.01 3.53 118.7 0.065 0.030 0.055 0.050 0095 XINGHE 0.050 Unch 20106.2 0.050 4.72 — 117.4
0.820 0.545 0.610 0.590 5207 SBCCORP 0.595 0.015 930.5 0.599 — — 139.7 INDUSTRIAL PRODUCTS
1.210 0.803 1.180 1.170 2224 SDRED 1.180 0.010 653.1 1.171 9.31 2.12 502.8 0.192 0.105 0.155 0.140 0105 ASIAPLY 0.145 -0.005 3500.4 0.147 15.93 3.45 48.4
0.580 0.390 0.465 0.455 4286 SEAL 0.455 UNCH 256 0.456 — — 110.5 0.130 0.090 0.115 0.110 0072 AT 0.110 Unch 796.6 0.111 — — 46.4
2.860 2.640 2.680 2.660 6017 SHL 2.660 UNCH 14.2 2.672 7.94 — 644.0 0.445 0.255 0.330 0.320 0163 CAREPLS 0.330 0.005 1956.1 0.323 235.71 — 167.1
0.330 0.130 0.260 0.245 0102 CONNECT 0.250 Unch 7586.5 0.252 27.17 — 80.7
1.780 1.040 1.720 1.600 5288 SIMEPROP 1.640 -0.050 11878.2 1.646 1.84 — 11,153.4 0.443 0.320 0.345 0.345 0190 ESAFE 0.345 -0.005 31.2 0.345 50.74 — 83.0
0.305 0.140 0.235 0.220 4375 SMI 0.230 0.010 1122.7 0.230 1.79 — 48.3 0.505 0.235 0.290 0.280 0100 ESCERAM 0.280 -0.010 312 0.286 11.57 2.14 57.5
0.907 0.599 0.655 0.640 5213 SNTORIA 0.650 -0.005 102 0.648 9.27 — 368.7 0.370 0.215 0.290 0.280 0175 HHGROUP 0.280 -0.010 745 0.281 38.89 — 86.4
5.500 4.211 4.920 4.910 1783 SPB 4.910 UNCH 11.7 4.911 18.22 2.44 1,687.2 0.145 0.080 0.115 0.110 0160 HHHCORP 0.110 Unch 370.1 0.112 20.00 — 36.7
4.151 2.896 3.460 3.370 8664 SPSETIA 3.410 -0.010 1839.3 3.409 11.45 5.71 11,688.7 0.355 0.222 0.300 0.285 0188 HLT 0.290 -0.005 1353.9 0.292 — — 115.5
1.590 0.970 1.280 1.280 3743 SUNSURIA 1.280 -0.020 12 1.280 11.28 — 1,022.5 0.555 0.205 0.455 0.405 0162 IJACOBS 0.450 0.035 8265.9 0.431 38.14 — 61.6
1.035 0.609 0.780 0.760 1538 SYMLIFE 0.770 UNCH 280 0.765 5.65 3.90 238.7 0.153 0.090 0.110 0.105 0024 JAG 0.105 -0.005 7210.6 0.106 14.00 0.86 144.7
0.510 0.280 0.365 0.345 4022 TADMAX 0.355 UNCH 1602.5 0.360 — — 191.2 0.250 0.130 0.205 0.195 0025 LNGRES 0.200 -0.005 890.8 0.202 22.22 — 48.4
0.410 0.250 0.385 0.375 5158 TAGB 0.380 -0.005 1340 0.381 6.59 1.05 2,022.3 0.115 0.040 0.070 0.060 0070 MQTECH 0.070 0.005 7926.8 0.065 — — 29.0
0.055 0.035 0.050 0.040 2259 TALAMT 0.050 0.005 3799 0.045 — — 211.0 0.848 0.395 0.720 0.710 0049 OCNCASH 0.715 -0.005 418.6 0.711 14.80 1.12 159.4
1.465 0.995 1.060 1.050 5191 TAMBUN 1.050 UNCH 506.5 1.056 4.39 9.52 455.0 0.610 0.140 0.325 0.300 0038 PTB 0.320 0.015 200.2 0.308 — — 48.1
0.165 0.060 0.140 0.140 2429 TANCO 0.140 UNCH 476.6 0.140 — — 92.6 0.175 0.100 0.135 0.120 0133 SANICHI 0.125 -0.005 2307.6 0.127 — — 39.0
0.315 0.180 0.225 0.225 7889 THRIVEN 0.225 0.005 3.7 0.225 — — 84.8 0.060 0.025 0.045 0.040 0109 SCBUILD 0.040 Unch 2157 0.040 — — 35.3
0.085 0.040 0.050 0.040 7079 TIGER 0.050 0.005 33629.8 0.044 — — 82.6 0.440 0.125 0.425 0.410 0001 SCOMNET 0.415 -0.005 3520.7 0.417 41.09 — 100.8
0.910 0.650 0.680 0.665 5239 TITIJYA 0.680 UNCH 226.2 0.673 6.88 0.37 914.2 0.289 0.147 0.200 0.195 0028 SCOPE 0.200 0.005 440 0.198 27.40 2.50 112.1
0.290 0.140 0.195 0.185 0055 SERSOL 0.190 Unch 1146.4 0.189 — — 40.9
1.060 0.880 0.925 0.915 5401 TROP 0.925 UNCH 207.8 0.920 8.98 2.16 1,360.1 0.875 0.140 0.600 0.590 0084 TECFAST 0.595 -0.010 872.6 0.595 31.65 0.64 135.7
1.360 1.010 1.210 1.160 5148 UEMS 1.170 -0.030 6428 1.178 17.97 — 5,308.8 TECHNOLOGY
2.700 2.190 2.370 2.330 5200 UOADEV 2.370 0.040 282.6 2.352 5.96 6.33 4,110.2 0.995 0.285 0.585 0.580 0018 ACCSOFT 0.585 -0.010 15.5 0.584 27.59 — 487.2
0.525 0.210 0.285 0.270 6378 WMG 0.275 UNCH 653.2 0.277 — — 117.2 0.750 0.230 0.660 0.610 0181 AEMULUS 0.635 0.010 10069.8 0.634 36.92 — 278.7
1.110 0.905 — — 7003 Y&G 0.910 — — — 32.50 — 181.4 0.455 0.310 0.405 0.380 0119 APPASIA 0.405 0.015 2130.8 0.394 — — 139.8
1.620 1.300 1.400 1.390 3158 YNHPROP 1.400 -0.010 80.1 1.400 25.36 — 740.6 0.450 0.120 0.170 0.155 0068 ASDION 0.160 -0.005 103 0.163 — — 18.6
1.750 1.210 1.730 1.630 7066 YONGTAI 1.650 -0.040 5352.9 1.677 40.94 — 793.1 1.050 0.580 0.765 0.750 0098 BAHVEST 0.755 Unch 743.1 0.759 — — 454.3
0.670 0.500 0.540 0.530 2577 YTLLAND 0.535 -0.005 180.1 0.535 8.56 — 451.7 0.650 0.550 0.600 0.565 0195 BINACOM 0.570 -0.020 18946.7 0.581 — — 148.2
MINING 0.764 0.585 0.635 0.635 0191 CABNET 0.635 Unch 2 0.635 12.38 — 82.6
1.630 1.160 1.550 1.520 2186 KUCHAI 1.550 0.030 147.5 1.533 3.86 0.63 191.8 0.250 0.030 0.200 0.170 0152 DGB 0.190 0.010 73912.5 0.188 135.71 — 103.5
PLANTATIONS 0.160 0.030 0.150 0.140 0131 DGSB 0.140 -0.010 42992 0.144 1400.0 — 189.8
0.285 0.190 — — 7054 AASIA 0.210 — — — — — 138.6 0.068 0.040 0.045 0.040 0154 EAH 0.040 Unch 4338.8 0.041 28.57 — 139.1
20.100 17.781 19.960 19.700 1899 BKAWAN 19.720 -0.080 6.1 19.76 13.59 3.04 8,597.0 0.220 0.115 0.145 0.140 0107 EDUSPEC 0.140 -0.005 434.3 0.140 — — 140.3
8.639 8.340 — — 5069 BLDPLNT 8.340 — — — 36.50 0.48 779.8 0.500 0.080 0.425 0.415 0116 FOCUS 0.415 -0.010 734.8 0.418 — — 324.6
1.704 1.453 1.670 1.660 5254 BPLANT 1.670 UNCH 633.1 1.666 3.93 7.19 2,672.0 1.750 0.820 1.200 1.170 0104 GENETEC 1.180 -0.030 114.4 1.187 — — 41.9
1.000 0.776 0.840 0.820 8982 CEPAT 0.830 UNCH 213.7 0.828 8.87 1.81 264.3 0.090 0.035 — — 0045 GNB 0.035 — — — — — 10.1
0.195 0.075 — — 0074 GOCEAN 0.165 — — — — — 47.8
8.244 7.360 7.600 7.600 1929 CHINTEK 7.600 0.100 0.6 7.600 17.13 2.63 694.4 0.100 0.045 0.070 0.065 0174 IDMENSN 0.070 Unch 2807.2 0.066 70.00 — 38.1
0.735 0.405 0.595 0.585 3948 DUTALND 0.585 -0.010 832.8 0.589 172.06 — 495.0 0.533 0.257 0.410 0.390 0023 IFCAMSC 0.400 Unch 6010.1 0.399 21.05 1.25 243.3
9.693 7.821 — — 5029 FAREAST 8.720 — — — 9.12 3.44 1,232.9 0.145 0.060 0.135 0.120 0094 INIX 0.120 -0.015 14612.5 0.128 — — 30.4
2.108 1.468 2.030 1.950 5222 FGV 1.960 -0.040 18299.8 1.990 35.90 0.51 7,150.4 0.240 0.115 0.240 0.220 0010 IRIS 0.235 0.015 86862.4 0.231 — — 580.9
11.614 10.200 10.720 10.660 2291 GENP 10.720 0.020 317.3 10.71 20.18 1.26 8,612.4 1.450 0.266 1.330 1.290 0146 JFTECH 1.300 -0.010 137.1 1.313 37.90 0.92 273.0
0.658 0.550 0.580 0.565 7382 GLBHD 0.565 -0.015 32.3 0.579 376.67 1.77 125.9 3.398 0.818 3.140 3.030 0127 JHM 3.070 0.070 1614.9 3.080 25.54 0.49 806.8
1.430 1.105 1.370 1.370 2135 GOPENG 1.370 UNCH 15 1.370 48.58 2.92 245.7 0.270 0.150 0.210 0.200 0111 K1 0.205 -0.005 1706 0.204 — — 106.4
0.890 0.605 — — 7501 HARNLEN 0.630 — — — 18.86 — 116.9 0.460 0.100 0.165 0.150 0036 KGROUP 0.155 -0.005 18024 0.158 — — 66.3
2.700 2.429 2.560 2.550 5138 HSPLANT 2.550 -0.010 993.1 2.550 15.23 5.69 2,040.0 1.280 0.315 0.945 0.910 0176 KRONO 0.930 0.015 6489.4 0.933 21.83 — 305.0
3.519 2.670 2.670 2.670 2216 IJMPLNT 2.670 -0.020 17.9 2.670 32.72 2.62 2,351.1 0.170 0.050 0.165 0.150 0017 M3TECH 0.165 0.010 39875.6 0.160 — — 96.8
0.734 0.650 0.700 0.680 2607 INCKEN 0.700 0.020 30.5 0.691 — 1.60 294.5 0.675 0.225 0.675 0.630 0075 MEXTER 0.670 0.045 9418.3 0.653 — — 162.3
1.452 1.026 — — 6262 INNO 1.200 — — — 15.38 1.67 574.6 0.535 0.350 — — 0155 MGRC 0.395 — — — — — 40.9
4.757 4.310 4.680 4.640 1961 IOICORP 4.670 0.030 4294.3 4.660 29.96 2.03 29,345.6 1.200 0.610 0.775 0.745 0126 MICROLN 0.775 0.025 52 0.746 12.56 — 129.7
1.460 1.000 1.150 1.120 4383 JTIASA 1.120 -0.020 827.2 1.125 51.14 0.45 1,090.6 0.583 0.430 0.490 0.470 0112 MIKROMB 0.475 -0.010 2269.5 0.478 19.96 3.01 204.7
25.300 22.521 25.300 25.000 2445 KLK 25.180 0.060 1646.4 25.13 26.66 1.99 26,879.8 0.465 0.065 0.095 0.085 0085 MLAB 0.085 Unch 36106.9 0.090 — — 48.5
3.690 2.982 — — 2453 KLUANG 3.500 — — — 52.55 0.29 221.1 0.268 0.153 0.215 0.205 0034 MMAG 0.210 0.005 33150.4 0.210 — — 95.7
2.028 0.546 1.860 1.820 0113 MMSV 1.830 -0.040 618.1 1.835 14.13 1.09 298.3
4.900 3.209 4.560 4.510 5027 KMLOONG 4.540 0.030 122.5 4.519 14.67 3.74 1,415.6 0.130 0.055 0.100 0.095 0103 MNC 0.095 -0.005 9342.9 0.095 — — 45.4
0.682 0.515 0.625 0.590 1996 KRETAM 0.600 -0.015 1946.1 0.608 40.27 1.67 1,396.6 0.310 0.185 0.240 0.230 0156 MPAY 0.235 Unch 4137.4 0.233 — — 167.0
1.750 1.350 1.430 1.430 6572 KWANTAS 1.430 UNCH 21 1.430 11.22 — 445.7 0.684 0.121 0.170 0.160 0092 MTOUCHE 0.165 Unch 1690.4 0.165 23.91 — 83.9
1.500 1.170 — — 4936 MALPAC 1.200 — — — — — 90.0 1.140 0.616 1.040 0.960 0108 N2N 1.020 0.060 8381.8 1.005 22.62 1.96 486.7
0.949 0.790 0.870 0.840 5026 MHC 0.870 0.030 131.6 0.840 10.79 1.72 171.0 0.110 0.020 0.050 0.045 0020 NETX 0.050 0.005 72965.2 0.045 20.00 — 99.7
2.388 1.700 — — 5047 NPC 1.860 — — — 6.24 0.54 223.2 0.055 0.030 0.040 0.035 0096 NEXGRAM 0.040 Unch 29827.9 0.040 — — 75.3
4.206 3.671 3.760 3.700 2038 NSOP 3.700 -0.250 7.5 3.721 29.96 1.62 259.7 0.150 0.070 0.140 0.130 0026 NOVAMSC 0.135 Unch 13906.2 0.137 — — 92.2
0.315 0.185 0.220 0.195 1902 PINEPAC 0.220 0.020 88 0.200 — — 33.0 0.662 0.355 0.530 0.480 0035 OPCOM 0.490 0.040 3759.3 0.499 28.65 8.16 79.0
1.380 0.850 0.880 0.860 9695 PLS 0.860 -0.040 10 0.870 — — 281.0 0.379 0.280 0.320 0.310 0040 OPENSYS 0.310 -0.005 735.7 0.312 19.62 3.23 92.3
0.550 0.365 0.410 0.395 5113 RSAWIT 0.395 -0.015 435.5 0.398 — — 560.3 0.380 0.115 0.125 0.120 0079 ORION 0.120 -0.005 5393 0.121 — — 71.9
3.914 3.341 — — 2542 RVIEW 3.800 — — — 14.16 2.11 246.4 0.015 0.005 — — 0022 PARLO 0.050 — — — — — 0.5
3.259 2.931 3.120 3.010 2569 SBAGAN 3.120 0.120 19.8 3.064 — 0.64 207.0 0.230 0.135 0.165 0.155 0123 PRIVA 0.155 -0.005 2763.4 0.161 — — 86.5
0.720 0.510 — — 4316 SHCHAN 0.600 — — — — — 72.0 0.944 0.535 0.805 0.800 0106 REXIT 0.805 0.005 225.1 0.801 18.55 3.73 152.4
6.000 4.580 5.620 5.550 5285 SIMEPLT 5.600 -0.010 10168 5.604 10.44 — 38,084 0.430 0.261 0.335 0.330 0178 SEDANIA 0.330 -0.005 893.3 0.331 76.74 3.03 74.5
4.720 3.480 4.020 3.980 5126 SOP 3.980 UNCH 91.4 3.994 9.77 1.26 2,271.9 0.190 0.060 0.090 0.085 0060 SKH 0.090 Unch 864.8 0.086 37.50 — 49.9
1.870 1.520 1.800 1.750 5135 SWKPLNT 1.800 UNCH 19 1.797 14.54 — 504.0 0.275 0.120 0.260 0.235 0169 SMTRACK 0.260 0.020 6724.3 0.248 — — 35.3
0.343 0.205 0.260 0.245 0093 SOLUTN 0.250 -0.010 728.3 0.249 8.56 4.00 76.6
0.730 0.435 0.520 0.500 2054 TDM 0.520 0.010 1009.2 0.510 472.7 0.96 862.1 0.360 0.115 0.195 0.175 0129 SRIDGE 0.190 0.015 5100.9 0.188 — — 23.0
1.184 1.020 1.080 1.050 5112 THPLANT 1.060 -0.020 67.5 1.068 5.96 1.51 936.9 0.470 0.220 0.370 0.355 0050 SYSTECH 0.365 0.010 3377.1 0.363 68.87 0.82 126.9
1.918 1.560 1.670 1.660 9059 TSH 1.670 0.010 33.2 1.664 32.30 1.20 2,307.6 0.180 0.130 0.140 0.135 0132 TDEX 0.135 -0.005 1380.3 0.140 112.50 — 66.7
7.080 5.656 6.610 6.570 2593 UMCCA 6.610 0.020 69.4 6.597 16.90 2.72 1,385.4 0.515 0.055 0.445 0.420 0005 UCREST 0.425 -0.010 8306.3 0.429 49.42 — 146.5
28.400 25.474 28.300 28.300 2089 UTDPLT 28.300 UNCH 0.1 28.30 14.69 1.41 5,890.2 0.965 0.266 0.615 0.595 0120 VIS 0.605 -0.005 718.2 0.600 15.09 0.55 102.0
HOTELS 0.190 0.115 0.145 0.140 0069 VIVOCOM 0.140 -0.005 9527.3 0.141 33.33 — 475.1
0.628 0.505 0.530 0.520 5592 GCE 0.520 -0.005 34 0.524 — 3.85 102.4 0.155 0.070 0.140 0.135 0066 VSOLAR 0.135 -0.005 1584.8 0.135 — — 52.1
1.000 0.690 0.860 0.850 1643 LANDMRK 0.855 -0.010 475.5 0.855 — — 452.2 0.070 0.020 — — 0141 WINTONI 0.035 — — — — — 18.0
0.230 0.125 0.155 0.150 1287 PMHLDG 0.150 UNCH 115 0.150 375.0 — 139.3 0.275 0.095 0.190 0.180 0086 YGL 0.190 Unch 548.7 0.185 — — 44.1
5.588 4.832 5.020 4.960 5517 SHANG 5.000 -0.010 66.9 5.000 28.56 2.80 2,200.0 TRADING SERVICES
TECHNOLOGY 0.400 0.210 0.265 0.250 0122 AIM 0.260 0.005 610.1 0.250 — — 69.2
0.880 0.600 — — 7031 AMTEL 0.700 — — — — — 34.5 0.165 0.075 0.125 0.115 0048 ANCOMLB 0.120 Unch 948 0.120 — — 56.8
0.420 0.205 0.290 0.280 5195 CENSOF 0.285 -0.005 1612.6 0.284 — — 143.0 0.250 0.155 0.175 0.165 0187 BCMALL 0.165 -0.010 1022.5 0.168 27.97 — 69.5
0.630 0.115 0.610 0.590 0051 CUSCAPI 0.595 -0.010 5770.8 0.599 — — 295.5 0.392 0.280 0.300 0.300 0011 BTECH 0.300 Unch 57 0.300 18.99 5.33 75.6
0.800 0.303 0.800 0.745 7204 D&O 0.750 -0.040 6073.2 0.765 49.34 — 753.0 0.235 0.118 0.175 0.165 0150 FINTEC 0.165 -0.005 21448.7 0.167 1.01 — 77.3
0.710 0.165 0.350 0.330 8338 DATAPRP 0.340 -0.010 4571.1 0.336 — — 143.3 0.320 0.180 — — 0157 FOCUSP 0.215 — — — — — 35.5
0.759 0.430 0.600 0.585 0039 GFM 0.595 -0.005 284.4 0.593 24.29 2.44 254.7
0.235 0.120 0.145 0.140 0029 DIGISTA 0.140 UNCH 7925.5 0.140 — — 92.2 0.900 0.600 — — 0147 INNITY 0.610 — — — — — 84.4
1.543 1.210 1.290 1.280 5162 ECS 1.280 -0.010 42.6 1.286 8.43 4.30 230.4 0.330 0.245 0.315 0.300 0193 KAB 0.300 -0.010 8540.8 0.305 10.31 — 96.0
1.670 0.612 1.630 1.580 0065 EFORCE 1.580 -0.030 504.3 1.601 100.0 0.79 653.7 0.310 0.170 0.195 0.180 0180 KTC 0.190 -0.005 589.9 0.188 100.00 — 97.0
2.895 1.324 2.760 2.740 0090 ELSOFT 2.740 -0.020 70.4 2.741 24.42 1.82 754.6 0.350 0.135 0.240 0.210 0167 MCLEAN 0.225 0.015 1416.6 0.226 — — 40.2
1.870 0.870 1.620 1.560 0021 GHLSYS 1.580 -0.010 773.5 1.593 51.63 0.32 1,041.9 0.440 0.200 — — 0081 MEGASUN 0.230 — — — 11.56 — 50.5
0.580 0.230 0.580 0.570 0082 GPACKET 0.570 -0.005 14033.6 0.574 — — 432.5 0.280 0.170 0.200 0.180 0153 OVERSEA 0.195 -0.010 40.2 0.185 — — 48.1
0.280 0.175 0.265 0.255 0056 GRANFLO 0.255 -0.005 1300 0.257 17.59 — 123.2 0.200 0.115 0.145 0.140 0177 PASUKGB 0.145 Unch 838 0.145 — — 117.7
7.050 3.442 6.990 6.950 7022 GTRONIC 6.970 -0.020 2343.1 6.979 60.71 0.57 1,988.7 0.450 0.260 — — 0006 PINEAPP 0.440 — — — 78.57 — 21.3
0.940 0.508 0.760 0.750 5028 HTPADU 0.750 -0.020 27 0.751 8.87 6.67 75.9 0.375 0.235 0.330 0.315 0171 PLABS 0.325 Unch 2017.2 0.322 19.58 1.85 69.8
3.820 1.938 3.800 3.650 0166 INARI 3.650 -0.150 9118 3.714 28.97 2.36 7,489.6 0.350 0.123 0.315 0.295 0186 PTRANS 0.310 0.005 10754.9 0.306 13.72 2.94 389.8
0.435 0.115 0.175 0.165 9393 ITRONIC 0.170 UNCH 147 0.168 — — 17.5 0.355 0.070 0.335 0.330 0007 PUC 0.330 -0.005 31571.5 0.334 194.12 — 470.6
0.668 0.415 0.490 0.455 5161 JCY 0.475 0.020 9365.2 0.473 22.41 7.89 986.5 0.005 0.005 — — 0110 RA 0.005 — — — 10.00 — 4.8
22.700 9.402 22.700 21.440 9334 KESM 21.480 -0.720 55.1 21.85 20.37 0.58 924.0 0.615 0.285 0.425 0.405 0032 REDTONE 0.405 -0.005 633 0.411 — — 307.1
0.340 0.080 0.250 0.235 0143 KEYASIC 0.235 -0.015 10059.9 0.239 — — 209.3 0.635 0.380 0.440 0.425 0173 REV 0.435 -0.010 1361.3 0.432 1.11 — 58.6
14.410 7.423 12.660 12.400 3867 MPI 12.400 -0.400 125.8 12.48 13.50 2.34 2,602.6 0.698 0.452 0.560 0.535 0158 SCC 0.535 -0.020 108.3 0.548 12.27 5.83 75.5
0.275 0.165 0.210 0.205 0161 SCH 0.210 Unch 1070.7 0.208 48.84 — 86.6
1.467 0.965 1.380 1.350 5011 MSNIAGA 1.350 -0.030 33.5 1.358 14.30 3.70 81.5 0.300 0.145 0.190 0.185 0117 SMRT 0.190 Unch 802.9 0.188 — — 68.8
1.327 0.455 0.760 0.700 0083 NOTION 0.740 0.045 17835.9 0.735 16.19 3.72 244.7 0.295 0.100 0.295 0.280 0140 STERPRO 0.295 0.010 3067.6 0.291 — — 84.5
0.605 0.435 0.515 0.495 9008 OMESTI 0.505 -0.015 887.7 0.503 — — 217.7 0.300 0.109 0.300 0.290 0080 STRAITS 0.290 -0.005 2581.2 0.293 38.67 — 106.7
0.375 0.225 0.250 0.240 0041 PANPAGE 0.245 UNCH 1693.2 0.243 — — 65.0 0.907 0.750 0.800 0.790 0089 TEXCYCL 0.790 Unch 353.8 0.797 10.66 0.51 202.4
3.140 0.646 3.050 2.950 7160 PENTA 2.960 -0.080 2896.3 2.978 26.43 — 937.1 0.230 0.120 0.180 0.170 0145 TFP 0.170 -0.010 317 0.174 — — 34.9
0.675 0.250 0.485 0.470 9075 THETA 0.485 -0.005 171.2 0.477 — — 52.0 0.145 0.095 0.135 0.120 0165 XOX 0.125 0.005 140456 0.126 19.53 — 117.1
0.232 0.040 0.060 0.050 0118 TRIVE 0.055 UNCH 101718 0.055 110.00 — 95.9 FINANCE
4.158 2.291 3.490 3.340 5005 UNISEM 3.390 -0.020 4568.6 3.404 13.91 3.24 2,487.7 0.965 0.415 0.640 0.625 0053 OSKVI 0.640 -0.010 98.1 0.631 3.66 3.13 126.5

* Volume Weighted Average Price # PE is calculated based on latest 12 months reported Earnings Per Share
2 8 Markets WEDN ESDAY JAN UARY 1 0 , 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY

B U R S A M A L AY S I A E Q U I T Y D E R I VAT I V E S

Bursa Malaysia Equity Derivatives YEAR

HIGH
YEAR
LOW
DAY
HIGH
DAY
LOW
CODE WARRANTS CLOSE
(RM)
+/-
(RM)
VOL
(‘000)
PARENT EXE
PRICE PRICE
PR’M
(%)
EXPIRY
DATE
0.155 0.015 0.035 0.025 5247C4 KAREX-C4 0.035 0.005 440.9 1.310 1.550 22.33 30/04/2018
Main Market & Ace Market Warrants 0.185 0.050 0.060 0.050 5247C6 KAREX-C6 0.060 0.005 48.1 1.310 1.500 23.66 19/04/2018
0.060 0.035 0.050 0.050 5247C8 KAREX-C8 0.050 -0.005 301.2 1.310 1.800 43.89 31/07/2018
YEAR YEAR DAY DAY CODE WARRANTS CLOSE +/- VOL PARENT EXE PR’M EXPIRY 0.240 0.120 0.220 0.215 7161CD KERJAYA-CD 0.215 0.010 54.1 4.120 3.400 0.79 25/01/2018
HIGH LOW HIGH LOW (RM) (RM) (‘000) PRICE PRICE (%) DATE 0.265 0.155 0.230 0.220 7161CE KERJAYA-CE 0.220 Unch 1025.3 4.120 3.600 3.40 22/02/2018
0.140 0.100 0.110 0.110 7161CF KERJAYA-CF 0.110 0.005 10 4.120 4.300 15.05 09/04/2018
0.325 0.155 0.325 0.305 70310 A50CHIN-C10 0.325 0.030 7.2 8.045 7.926 4.58 28/03/2018 0.215 0.160 0.190 0.185 7161CG KERJAYA-CG 0.185 0.005 130 4.120 3.800 9.30 30/04/2018
0.245 0.150 0.245 0.235 70312 A50CHIN-C12 0.245 0.030 300 8.045 8.693 12.62 28/06/2018 0.155 0.135 0.150 0.150 7161CH KERJAYA-CH 0.150 Unch 100 4.120 4.300 19.66 24/07/2018
0.110 0.025 0.050 0.050 523810 AAX-C10 0.050 0.010 501 0.400 0.400 12.50 26/04/2018 0.490 0.090 0.420 0.405 0151WA KGB-WA 0.415 -0.005 229 0.870 0.500 5.17 12/06/2019
0.120 0.035 0.080 0.060 523811 AAX-C11 0.080 0.020 4613.5 0.400 0.380 15.00 21/06/2018 0.120 0.035 0.045 0.045 0036WB KGROUP-WB 0.045 Unch 1.5 0.155 0.200 58.06 01/05/2020
0.095 0.025 0.060 0.045 523812 AAX-C12 0.060 0.015 5684.7 0.400 0.360 8.00 30/03/2018 0.130 0.050 0.090 0.075 7164WB KNM-WB 0.085 -0.005 4083.6 0.280 1.000 287.50 21/04/2020
0.310 0.145 0.200 0.175 5238WA AAX-WA 0.200 0.020 14531.5 0.400 0.460 65.00 08/06/2020 0.095 0.060 0.070 0.070 7017WB KOMARK-WB 0.070 -0.005 219.8 0.205 0.230 46.34 21/01/2020
0.200 0.055 0.165 0.120 509953 AIRASIAC53 0.155 0.035 18965.8 3.740 3.200 -2.01 02/02/2018 0.185 0.065 0.165 0.160 7153CV KOSSAN-CV 0.165 Unch 90 8.600 7.700 2.97 19/03/2018
0.185 0.095 0.180 0.160 509958 AIRASIAC58 0.180 0.030 6861 3.740 3.300 7.49 26/04/2018 0.250 0.140 0.230 0.230 7153CW KOSSAN-CW 0.230 -0.020 100 8.600 8.000 10.41 24/08/2018
0.275 0.065 0.175 0.175 5014CT AIRPORT-CT 0.175 0.020 43 9.050 8.200 2.21 25/01/2018 0.430 0.190 0.210 0.200 5878WB KPJ-WB 0.200 Unch 289.4 0.980 1.010 23.47 23/01/2019
0.165 0.010 0.030 0.030 5014CU AIRPORT-CU 0.030 0.005 20 9.050 9.500 6.46 22/01/2018 0.320 0.015 0.035 0.035 8494WA LBICAP-WA 0.035 Unch 19 1.040 1.000 -0.48 17/04/2018
0.145 0.030 0.105 0.090 5014CV AIRPORT-CV 0.090 0.005 1696 9.050 8.800 4.20 30/04/2018 0.110 0.005 0.005 0.005 5284CA LCTITAN-CA 0.005 Unch 0.1 1.594 6.800 327.85 12/02/2018
0.215 0.165 0.215 0.215 5014CX AIRPORT-CX 0.215 0.005 50 9.050 8.580 9.06 30/08/2018 0.465 0.005 0.020 0.020 5284CE LCTITAN-CE 0.020 -0.010 476.5 5.110 5.500 8.81 30/01/2018
0.420 0.165 0.230 0.200 7609WA AJIYA-WA 0.200 -0.025 1445.3 0.660 0.920 69.70 28/08/2021 0.095 0.020 0.035 0.030 5284CG LCTITAN-CG 0.035 Unch 1226.3 5.110 6.500 31.31 30/04/2018
0.220 0.080 0.215 0.180 1015C5 AMBANK-C5 0.195 -0.020 1616.7 4.480 4.300 6.86 28/09/2018 0.300 0.055 0.200 0.170 8745WB LEWEKO-WB 0.170 -0.010 135.8 0.330 0.200 12.12 08/09/2020
0.240 0.110 0.165 0.140 6556CE ANNJOO-CE 0.145 -0.020 1479.7 3.730 3.100 0.60 02/02/2018 0.250 0.125 0.155 0.140 7126WA LONBISC-WA 0.155 0.025 43 0.670 1.000 72.39 26/01/2020
0.115 0.065 0.070 0.065 6556CG ANNJOO-CG 0.065 -0.010 890 3.730 4.380 24.92 14/05/2018 0.095 0.030 0.055 0.055 5068WA LUSTER-WA 0.055 -0.005 750 0.110 0.100 40.91 03/06/2022
0.155 0.090 0.130 0.115 6556CH ANNJOO-CH 0.115 -0.015 2553 3.730 4.000 23.27 24/07/2018 0.095 0.030 0.055 0.055 5068WB LUSTER-WB 0.055 Unch 20 0.110 0.100 40.91 26/05/2023
0.130 0.085 0.105 0.100 6556CI ANNJOO-CI 0.105 -0.010 60 3.730 3.880 20.91 31/07/2018 0.080 0.020 0.080 0.070 0017WA M3TECH-WA 0.075 0.005 23782.9 0.165 0.100 6.06 21/08/2019
0.085 0.070 0.080 0.070 6556CJ ANNJOO-CJ 0.075 -0.005 301 3.730 4.080 23.46 31/07/2018 0.120 0.015 0.040 0.040 3859C2 MAGNUM-C2 0.040 0.020 100 1.820 1.800 3.30 22/01/2018
0.030 0.005 0.015 0.010 5194WA APFT-WA 0.010 -0.005 285 0.030 0.400 1,267 13/07/2018 0.140 0.100 0.125 0.120 3859C3 MAGNUM-C3 0.120 -0.010 309 1.820 1.700 6.59 29/06/2018
0.335 0.180 0.290 0.270 0119WA APPASIA-WA 0.290 0.005 2751.2 0.405 0.130 3.70 23/12/2024 0.240 0.050 0.070 0.060 8583WB MAHSING-WB 0.065 Unch 2331.8 1.480 1.440 1.69 16/03/2018
0.100 0.005 0.065 0.040 521027 ARMADA-C27 0.050 -0.005 7387.3 0.870 0.835 1.72 02/02/2018 0.170 0.090 0.120 0.105 8583WC MAHSING-WC 0.115 0.005 146.7 1.480 2.100 49.66 21/02/2020
0.145 0.030 0.145 0.110 521028 ARMADA-C28 0.145 0.015 21 0.870 0.750 4.54 30/01/2018 0.115 0.015 0.040 0.025 5264C1 MALAKOF-C1 0.030 0.005 2800 1.040 1.000 1.92 30/01/2018
0.190 0.100 0.190 0.170 521030 ARMADA-C30 0.180 -0.010 437 0.870 0.750 6.90 29/06/2018 0.160 0.020 0.085 0.060 5264C2 MALAKOF-C2 0.075 0.005 5073 1.040 1.050 8.17 30/04/2018
0.170 0.085 0.170 0.150 521031 ARMADA-C31 0.165 -0.005 360 0.870 0.780 8.62 29/06/2018 0.090 0.015 0.055 0.035 5264C3 MALAKOF-C3 0.050 0.010 21330.2 1.040 1.000 5.77 19/03/2018
0.205 0.100 0.205 0.175 521032 ARMADA-C32 0.190 -0.005 3443.9 0.870 0.670 5.40 29/06/2018 0.090 0.030 0.085 0.065 5264C4 MALAKOF-C4 0.075 -0.005 3553.4 1.040 0.950 5.77 19/04/2018
0.095 0.040 0.095 0.075 521033 ARMADA-C33 0.085 -0.005 4006.2 0.870 0.800 9.54 24/07/2018 0.085 0.025 0.060 0.050 5264C5 MALAKOF-C5 0.055 0.005 460 1.040 1.150 18.51 29/06/2018
0.130 0.060 0.130 0.120 521035 ARMADA-C35 0.120 -0.010 1759.9 0.870 0.850 12.87 31/07/2018 0.055 0.020 0.050 0.035 5264C6 MALAKOF-C6 0.045 0.005 12978.2 1.040 1.200 21.88 29/06/2018
0.350 0.030 0.050 0.045 0068WB ASDION-WB 0.045 -0.005 100 0.160 0.500 240.63 24/03/2019 0.990 0.095 0.270 0.240 6181WB MALTON-WB 0.250 -0.020 7041.1 1.030 1.000 21.36 29/06/2018
0.105 0.065 0.080 0.080 4057WB ASIAPAC-WB 0.080 -0.005 90 0.170 0.250 94.12 25/05/2022 0.500 0.278 0.340 0.330 5236WA MATRIX-WA 0.335 -0.010 167.9 2.230 2.400 22.65 20/07/2020
0.140 0.035 0.095 0.080 6399C5 ASTRO-C5 0.090 0.005 485.2 2.750 2.900 10.36 31/07/2018 0.015 0.005 0.005 0.005 5189WA MAXWELL-WA 0.005 Unch 130.1 0.015 0.400 2,600 24/03/2020
0.075 0.055 0.075 0.075 6399C6 ASTRO-C6 0.075 0.010 10 2.750 3.100 18.18 25/06/2018 0.190 0.035 0.150 0.135 115531 MAYBANKC31 0.135 -0.010 383.7 9.830 9.500 0.76 28/02/2018
0.664 0.095 0.285 0.270 7099WB ATTA-WB 0.275 -0.010 590.1 0.960 0.870 19.27 09/05/2022 0.135 0.050 0.070 0.070 115532 MAYBANKC32 0.070 Unch 60 9.830 10.00 4.58 28/02/2018
0.165 0.045 0.125 0.110 688820 AXIATA-C20 0.110 -0.020 564.2 5.630 5.200 0.18 28/02/2018 0.280 0.125 0.280 0.260 115534 MAYBANKC34 0.265 -0.005 1372.9 9.830 9.250 0.84 30/08/2018
0.220 0.155 0.195 0.190 688822 AXIATA-C22 0.195 -0.010 100 5.630 5.000 6.13 29/06/2018 0.140 0.090 0.135 0.135 115536 MAYBANKC36 0.135 Unch 25 9.830 9.400 3.87 23/08/2018
0.400 0.180 0.400 0.385 0098WA BAHVEST-WA 0.400 0.010 882.4 0.755 0.870 68.21 20/08/2024 0.230 0.005 0.020 0.015 1171C2 MBSB-C2 0.020 Unch 1168.8 1.230 1.300 7.32 02/02/2018
0.270 0.075 0.270 0.205 5248CT BAUTO-CT 0.215 0.040 325.3 2.370 2.100 2.22 31/07/2018 0.105 0.010 0.025 0.020 1171C3 MBSB-C3 0.020 -0.005 535 1.230 1.350 13.01 28/02/2018
0.450 0.265 0.330 0.315 5258WA BIMB-WA 0.320 0.005 1656 4.260 4.720 18.31 04/12/2023 0.150 0.030 0.145 0.115 1171C4 MBSB-C4 0.135 -0.015 1871.6 1.230 1.250 12.60 29/06/2018
0.193 0.005 0.015 0.015 3239WA BJASSET-WA 0.015 0.005 1320.1 0.435 1.000 133.33 16/03/2018 0.105 0.050 0.095 0.080 1171C5 MBSB-C5 0.095 Unch 15581.9 1.230 1.050 8.54 30/04/2018
0.095 0.045 0.060 0.055 3395C5 BJCORP-C5 0.055 -0.005 734 0.360 0.350 12.50 24/07/2018 0.065 0.015 0.045 0.035 1171C6 MBSB-C6 0.040 -0.005 422 1.230 1.400 20.33 14/05/2018
0.065 0.045 0.055 0.050 3395C7 BJCORP-C7 0.050 -0.005 1652 0.360 0.385 20.83 24/08/2018 0.235 0.090 0.230 0.200 1171C7 MBSB-C7 0.225 -0.005 1621.3 1.230 1.100 7.72 28/09/2018
0.175 0.050 0.130 0.120 3395WC BJCORP-WC 0.130 0.005 657.5 0.360 1.000 213.89 29/05/2026 0.110 0.050 0.100 0.090 1171C8 MBSB-C8 0.095 -0.005 218.6 1.230 1.200 13.01 31/07/2018
0.071 0.035 0.045 0.040 7036WC BORNOIL-WC 0.045 0.005 5955.1 0.095 0.070 21.05 08/11/2025 0.260 0.040 0.110 0.075 0167WB MCLEAN-WB 0.105 0.025 377.1 0.225 0.250 57.78 07/10/2020
0.195 0.055 0.195 0.165 181814 BURSA-C14 0.170 -0.015 878.5 10.659 10.000 3.39 29/06/2018 0.085 0.025 0.040 0.035 5040WB MEDAINC-WB 0.040 0.005 5.3 0.460 0.800 82.61 22/04/2022
0.180 0.105 0.180 0.170 181815 BURSA-C15 0.170 -0.005 200 10.660 10.000 4.97 27/07/2018 0.065 0.025 0.035 0.035 5040WC MEDAINC-WC 0.035 -0.010 2 0.460 0.800 81.52 24/08/2024
0.175 0.035 0.085 0.085 102323 CIMB-C23 0.085 -0.005 500 6.750 6.500 3.22 02/02/2018 0.050 0.003 0.020 0.010 4502CK MEDIA-CK 0.020 Unch 355.6 0.760 1.000 36.84 28/02/2018
0.165 0.065 0.120 0.110 102326 CIMB-C26 0.110 0.015 80 6.750 6.880 10.07 26/04/2018 0.325 0.120 0.120 0.120 0081WA MEGASUN-WA 0.120 Unch 17.5 0.230 0.100 -4.35 29/04/2019
0.290 0.150 0.290 0.255 102328 CIMB-C28 0.255 -0.025 9481.3 6.750 6.000 4.00 30/04/2018 0.199 0.085 0.085 0.085 1694WB MENANG-WB 0.085 -0.010 11 0.485 1.000 123.71 09/07/2019
0.155 0.095 0.155 0.135 102329 CIMB-C29 0.135 -0.015 512.5 6.750 6.380 10.52 31/07/2018 0.310 0.205 0.230 0.205 7234WA MESB-WA 0.215 Unch 4071.2 0.475 0.300 8.42 27/12/2022
0.260 0.140 0.260 0.245 102330 CIMB-C30 0.245 -0.010 4290.7 6.750 6.700 10.87 29/06/2018 0.145 0.025 0.035 0.025 3069CA MFCB-CA 0.025 -0.005 90 3.790 3.950 7.19 02/02/2018
0.205 0.055 0.135 0.130 0102WA CONNECT-WA 0.135 0.005 610 0.250 0.100 -6.00 17/09/2021 0.090 0.005 0.035 0.030 5186C3 MHB-C3 0.030 -0.010 628.2 0.915 0.900 4.92 25/01/2018
0.205 0.050 0.140 0.130 0102WB CONNECT-WB 0.140 0.010 850.7 0.250 0.100 -4.00 07/06/2021 0.100 0.025 0.085 0.065 5186C5 MHB-C5 0.065 -0.015 2589.1 0.915 0.900 12.57 14/05/2018
0.330 0.030 0.325 0.310 0051WA CUSCAPI-WA 0.315 -0.010 1561.1 0.595 0.270 -1.68 24/04/2018 0.275 0.110 0.235 0.235 5186C6 MHB-C6 0.235 -0.035 18.7 0.915 0.800 7.98 30/08/2018
0.470 0.220 0.285 0.265 5276WA DANCO-WA 0.275 0.010 114.8 0.490 0.300 17.35 22/05/2022 0.120 0.050 0.105 0.090 5186C8 MHB-C8 0.095 -0.005 5436.2 0.915 0.920 21.31 24/08/2018
0.230 0.055 0.210 0.195 727718 DIALOG-C18 0.200 0.010 155.5 2.700 2.300 2.22 30/03/2018 0.070 0.025 0.045 0.045 7219WA MINETEC-WA 0.045 Unch 140 0.135 0.150 44.44 27/11/2019
0.260 0.125 0.240 0.240 727722 DIALOG-C22 0.240 0.005 85 2.700 2.200 3.70 24/07/2018 0.270 0.130 0.200 0.155 5576WC MINHO-WC 0.200 0.040 24.1 0.500 0.500 40.00 02/08/2021
0.185 0.135 0.185 0.185 727724 DIALOG-C24 0.185 0.050 10 2.700 2.400 9.44 23/08/2018 0.115 0.020 0.070 0.060 381612 MISC-C12 0.060 0.005 1533.8 7.550 7.500 1.72 30/03/2018
0.150 0.035 0.120 0.120 694721 DIGI-C21 0.120 -0.025 50 4.850 5.000 6.80 31/07/2018 0.250 0.115 0.250 0.215 381614 MISC-C14 0.220 0.015 315.7 7.550 7.050 1.39 28/09/2018
0.165 0.050 0.075 0.065 0029WB DIGISTA-WB 0.070 0.005 168.2 0.140 0.260 135.71 04/04/2023 0.600 0.200 0.340 0.285 9571WD MITRA-WD 0.310 -0.010 275.5 0.950 1.090 47.37 23/08/2020
0.370 0.055 0.240 0.230 4456WD DNEX-WD 0.230 -0.005 22283.3 0.540 0.500 35.19 30/07/2021 0.105 0.020 0.045 0.045 0085WA MLAB-WA 0.045 Unch 920.5 0.085 0.090 58.82 24/04/2020
0.145 0.050 0.055 0.055 5265WA DOLPHIN-WA 0.055 -0.005 52 0.180 0.800 375.00 29/03/2021 0.070 0.025 0.040 0.035 0085WB MLAB-WB 0.040 0.005 3891.1 0.085 0.150 123.53 10/09/2020
0.340 0.185 0.225 0.225 7169WA DOMINAN-WA 0.225 -0.005 79.8 1.340 1.300 13.81 10/09/2020 0.085 0.055 0.070 0.065 0034WB MMAG-WB 0.070 Unch 10457.6 0.210 0.200 28.57 27/11/2022
0.375 0.040 0.375 0.275 161937 DRBHCOMC37 0.330 0.040 56772.1 2.530 1.850 -0.79 30/03/2018 0.115 0.005 0.055 0.020 2194C6 MMCCORP-C6 0.045 0.020 10834.1 2.200 2.450 15.45 30/04/2018
0.330 0.035 0.330 0.280 161938 DRBHCOMC38 0.320 0.050 392 2.530 1.780 1.98 30/01/2018 0.035 0.005 0.025 0.010 2194C7 MMCCORP-C7 0.015 0.010 5178 2.200 2.600 19.89 26/02/2018
0.250 0.045 0.250 0.210 161939 DRBHCOMC39 0.250 0.040 287 2.530 1.880 3.95 30/03/2018 0.235 0.055 0.235 0.130 2194C8 MMCCORP-C8 0.220 0.095 7856.6 2.200 2.000 5.91 31/07/2018
0.220 0.030 0.220 0.165 161940 DRBHCOMC40 0.200 0.025 2753 2.530 2.000 2.77 30/03/2018 0.055 0.020 0.045 0.040 0103WA MNC-WA 0.040 Unch 210 0.095 0.100 47.37 05/11/2021
0.180 0.020 0.175 0.130 161941 DRBHCOMC41 0.155 0.015 32500 2.530 2.150 3.36 30/03/2018 0.105 0.030 0.070 0.060 5237CI MPHBCAP-CI 0.060 -0.010 80 1.390 1.500 16.55 31/05/2018
0.480 0.095 0.480 0.375 161942 DRBHCOMC42 0.435 0.040 3583.4 2.530 1.650 -0.40 31/05/2018 0.110 0.055 0.095 0.090 3867CH MPI-CH 0.095 -0.010 55 12.400 13.500 18.83 29/06/2018
0.330 0.085 0.330 0.275 161943 DRBHCOMC43 0.320 0.030 280.9 2.530 1.600 1.19 30/03/2018 0.060 0.020 0.035 0.035 0070WA MQTECH-WA 0.035 Unch 2085 0.070 0.100 92.86 21/11/2021
0.340 0.075 0.340 0.265 161944 DRBHCOMC44 0.325 0.045 4029.9 2.530 2.000 4.74 09/04/2018 0.110 0.015 0.025 0.025 165118 MRCB-C18 0.025 -0.010 120 1.230 1.484 24.16 28/02/2018
0.345 0.080 0.345 0.270 161945 DRBHCOMC45 0.310 0.025 23858 2.530 1.950 4.03 29/06/2018 0.060 0.020 0.060 0.060 165120 MRCB-C20 0.060 Unch 170 1.230 1.484 29.12 30/04/2018
0.345 0.135 0.345 0.295 161946 DRBHCOMC46 0.325 0.025 811.3 2.530 1.650 3.75 27/07/2018 0.125 0.010 0.115 0.100 165121 MRCB-C21 0.100 -0.010 10269.3 1.230 1.222 9.97 30/04/2018
0.120 0.060 0.110 0.100 5216C1 DSONIC-C1 0.100 -0.005 1618.9 1.250 1.150 8.00 19/04/2018 0.130 0.040 0.115 0.100 165123 MRCB-C23 0.100 -0.025 813.3 1.230 1.134 6.42 19/03/2018
0.080 0.055 0.070 0.070 5216C3 DSONIC-C3 0.070 0.005 30 1.250 1.280 13.60 29/06/2018 0.165 0.055 0.150 0.135 165124 MRCB-C24 0.135 -0.030 550 1.230 1.047 8.12 30/03/2018
0.080 0.035 0.050 0.050 5216CY DSONIC-CY 0.050 0.005 50 1.250 1.300 12.00 30/03/2018 0.070 0.020 0.070 0.050 165125 MRCB-C25 0.055 -0.010 22880.2 1.230 1.309 15.79 30/03/2018
0.125 0.095 0.105 0.100 341712 E&O-C12 0.100 -0.010 28 1.460 1.550 19.86 23/08/2018 0.285 0.050 0.280 0.235 165126 MRCB-C26 0.235 -0.050 4445.8 1.230 1.056 6.69 29/06/2018
0.030 0.020 0.025 0.020 0154WD EAH-WD 0.025 0.005 1019.9 0.040 0.050 87.50 25/10/2022 0.125 0.043 0.050 0.045 1651WA MRCB-WA 0.045 -0.010 7376.3 1.230 1.680 40.24 14/09/2018
0.195 0.100 0.135 0.110 3557WC ECOFIRS-WC 0.135 0.010 22.7 0.300 0.300 45.00 10/09/2019 0.440 0.295 0.425 0.405 1651WB MRCB-WB 0.410 -0.010 5769.3 1.230 1.250 34.96 29/10/2027
0.325 0.160 0.325 0.315 5253CB ECONBHD-CB 0.315 0.035 105 1.310 0.960 2.14 28/02/2018 0.193 0.035 0.060 0.050 0092WB MTOUCHE-WB 0.055 -0.005 128.9 0.165 0.480 224.24 16/03/2020
0.230 0.100 0.230 0.175 5253CF ECONBHD-CF 0.175 -0.010 2768 1.310 1.180 6.11 22/03/2018 0.090 0.060 0.080 0.075 0092WC MTOUCHE-WC 0.075 -0.005 440.6 0.165 0.200 66.67 02/11/2020
0.190 0.080 0.190 0.160 5253CG ECONBHD-CG 0.160 0.005 300 1.310 1.240 9.31 30/03/2018 0.160 0.030 0.125 0.115 5703CE MUHIBAH-CE 0.115 0.005 299.5 3.230 3.300 8.22 12/02/2018
0.080 0.070 0.080 0.070 8206CL ECOWLD-CL 0.075 -0.005 970 1.440 1.500 14.58 23/08/2018 0.110 0.005 0.050 0.040 13818 MYEG-C18 0.050 -0.005 680 2.600 2.600 4.81 25/01/2018
0.120 0.085 0.095 0.095 8206CM ECOWLD-CM 0.095 0.005 130 1.440 1.350 10.24 31/07/2018 0.115 0.030 0.115 0.095 13821 MYEG-C21 0.105 -0.005 4741.4 2.600 2.280 3.85 30/03/2018
0.070 0.060 0.070 0.065 8206CN ECOWLD-CN 0.070 0.005 1552 1.440 1.650 24.31 25/06/2018 0.120 0.035 0.115 0.110 13822 MYEG-C22 0.110 -0.005 167.3 2.600 2.400 5.00 30/03/2018
0.095 0.020 0.040 0.035 0107WA EDUSPEC-WA 0.035 -0.005 2019.6 0.140 0.180 53.57 24/12/2018 0.080 0.030 0.070 0.065 13823 MYEG-C23 0.070 -0.010 156 2.600 2.700 11.92 26/02/2018
0.557 0.283 0.415 0.400 8907WC EG-WC 0.405 -0.015 276.4 0.690 0.500 31.16 03/11/2020 0.220 0.055 0.210 0.175 13824 MYEG-C24 0.200 -0.010 9489.6 2.600 2.100 0.77 28/02/2018
0.110 0.010 0.050 0.040 8877CD EKOVEST-CD 0.045 -0.005 1789 1.130 1.150 9.73 22/02/2018 0.305 0.090 0.305 0.275 13825 MYEG-C25 0.295 -0.005 1187 2.600 2.000 2.45 29/06/2018
0.080 0.030 0.070 0.060 8877CE EKOVEST-CE 0.060 -0.005 4818.7 1.130 1.200 18.41 29/06/2018 0.350 0.165 0.340 0.305 13826 MYEG-C26 0.340 0.005 332.8 2.600 1.700 4.62 29/06/2018
0.090 0.045 0.085 0.080 8877CG EKOVEST-CG 0.085 -0.005 82 1.130 1.100 18.41 24/07/2018 0.175 0.090 0.170 0.170 13827 MYEG-C27 0.170 -0.005 260 2.600 2.300 8.08 24/07/2018
0.170 0.095 0.165 0.165 8877CH EKOVEST-CH 0.165 -0.005 50 1.130 1.000 17.70 31/07/2018 0.330 0.090 0.310 0.285 13829 MYEG-C29 0.310 -0.020 407.8 2.600 2.200 5.48 28/09/2018
0.110 0.045 0.110 0.090 8877CI EKOVEST-CI 0.095 -0.010 1185 1.130 1.200 23.01 11/06/2018 0.295 0.275 0.295 0.290 13830 MYEG-C30 0.290 -0.005 110 2.600 2.100 8.65 27/07/2018
0.065 0.045 0.050 0.050 5283CJ EWINT-CJ 0.050 0.005 745 1.040 1.200 25.00 30/08/2018 0.065 0.010 0.030 0.025 0020WB NETX-WB 0.025 -0.005 446.8 0.050 0.050 50.00 08/06/2019
0.060 0.005 0.045 0.035 06503B FBMKLCI-C3B 0.045 -0.010 500 1,826 1,800 0.25 02/02/2018 0.170 0.080 0.085 0.080 7241WA NGGB-WA 0.085 0.005 1230.4 0.380 0.600 80.26 18/10/2020
0.150 0.005 0.150 0.120 06503E FBMKLCI-C3E 0.120 -0.015 313.6 1,826 1,770 0.17 28/02/2018 0.100 0.015 0.030 0.025 7215WA NIHSIN-WA 0.025 -0.005 1103.2 0.235 0.200 -4.26 11/02/2018
0.130 0.005 0.130 0.100 06503F FBMKLCI-C3F 0.105 -0.015 515 1,826 1,780 0.30 30/03/2018 0.415 0.200 0.285 0.250 0172WA OCK-WA 0.285 0.035 9273.6 0.910 0.710 9.34 15/12/2020
0.180 0.030 0.180 0.170 06503K FBMKLCI-C3K 0.170 -0.010 105.8 1,826 1,750 0.44 29/06/2018 0.255 0.075 0.125 0.125 7071WC OCR-WC 0.125 -0.015 10 0.535 0.500 16.82 24/07/2021
0.145 0.010 0.015 0.010 06504D FBMKLCI-H4D 0.015 0.005 4212 539.94 1,800 235.31 02/02/2018 0.185 0.045 0.065 0.065 5201CB OLDTOWN-CB 0.065 -0.005 14.1 3.100 3.000 3.06 22/01/2018
0.540 0.160 0.175 0.160 06504F FBMKLCI-H4F 0.175 -0.025 100 1,826 1,800 0.44 28/02/2018 0.280 0.045 0.105 0.095 9008WB OMESTI-WB 0.100 -0.005 1510.9 0.505 0.500 18.81 30/05/2018
0.585 0.230 0.245 0.230 06504J FBMKLCI-H4J 0.245 -0.015 68 1,826 1,780 0.11 30/04/2018 0.060 0.040 0.055 0.050 0079WA ORION-WA 0.050 -0.005 6805 0.120 0.170 83.33 26/07/2022
0.205 0.035 0.045 0.040 06504M FBMKLCI-H4M 0.040 -0.005 1698 1,826 1,750 -3.12 29/06/2018 0.247 0.160 0.190 0.180 5053WC OSK-WC 0.185 0.005 140.4 1.070 1.200 29.44 22/07/2020
0.330 0.215 0.235 0.215 06504N FBMKLCI-H4N 0.230 0.005 160 1,826 1,730 -2.79 29/06/2018 0.290 0.105 0.260 0.260 7052CN PADINI-CN 0.260 0.005 50 5.280 4.500 4.92 29/06/2018
0.155 0.005 0.040 0.025 522228 FGV-C28 0.035 0.005 15577.4 1.960 2.050 9.06 02/02/2018 0.180 0.150 0.155 0.155 7052CR PADINI-CR 0.155 -0.005 10 5.280 5.350 18.94 24/08/2018
0.195 0.065 0.185 0.150 522231 FGV-C31 0.165 -0.015 13710.6 1.960 1.630 4.21 30/03/2018 0.300 0.135 0.235 0.225 5125WA PANTECH-WA 0.230 -0.010 776.2 0.655 0.500 11.45 21/12/2020
0.115 0.075 0.110 0.105 522233 FGV-C33 0.110 0.005 390 1.960 1.800 8.67 30/03/2018 0.165 0.040 0.155 0.120 129515 PBBANK-C15 0.135 -0.005 1154.9 20.820 20.300 0.74 30/04/2018
0.100 0.060 0.100 0.100 522234 FGV-C34 0.100 0.005 100 1.960 1.880 11.22 30/03/2018 0.150 0.060 0.145 0.120 6068WA PCCS-WA 0.135 -0.005 3193.2 0.355 0.600 107.04 25/12/2022
0.240 0.100 0.240 0.200 522239 FGV-C39 0.230 0.005 2496.3 1.960 1.750 9.82 31/07/2018 0.360 0.130 0.335 0.315 518313 PCHEM-C13 0.315 -0.005 247.8 8.140 7.000 -0.46 31/05/2018
0.150 0.075 0.145 0.130 522241 FGV-C41 0.135 -0.015 11602.6 1.960 2.000 17.19 25/06/2018 0.290 0.200 0.230 0.225 9997WB PENSONI-WB 0.230 0.005 237.5 0.620 0.600 33.87 20/01/2024
0.105 0.060 0.090 0.080 0150WB FINTEC-WB 0.085 -0.005 12046 0.165 0.150 42.42 03/12/2022 0.485 0.235 0.295 0.280 8311WC PESONA-WC 0.280 0.015 1085.1 0.510 0.250 3.92 27/01/2020
0.740 0.365 0.490 0.470 9261WB GADANG-WB 0.475 -0.005 1417.4 0.475 1.060 223.16 29/11/2021 0.095 0.025 0.090 0.060 5219CB PESTECH-CB 0.075 -0.010 2172.5 1.920 1.880 5.73 31/05/2018
0.110 0.025 0.075 0.065 539839 GAMUDA-C39 0.075 0.010 4020.9 5.000 5.350 11.50 31/05/2018 0.095 0.040 0.075 0.075 5219CC PESTECH-CC 0.075 -0.015 30 1.920 2.000 13.93 14/05/2018
0.175 0.120 0.175 0.165 539843 GAMUDA-C43 0.175 0.005 20.1 5.000 5.000 12.25 31/07/2018 0.155 0.020 0.155 0.140 5681CS PETDAG-CS 0.140 0.005 549.6 25.140 24.100 1.43 30/03/2018
0.165 0.145 0.165 0.165 539844 GAMUDA-C44 0.165 0.015 100 5.000 5.000 11.55 25/06/2018 0.155 0.115 0.155 0.140 5681CT PETDAG-CT 0.145 -0.005 169 25.140 26.000 10.34 11/06/2018
0.490 0.300 0.460 0.460 3611WA GBH-WA 0.460 -0.005 1 1.460 1.000 0.00 07/04/2020 0.250 0.050 0.215 0.195 6033CP PETGAS-CP 0.195 -0.025 104 19.000 18.000 3.46 31/07/2018
0.080 0.055 0.075 0.070 0078CI GDEX-CI 0.070 -0.010 100 0.640 0.700 23.59 29/06/2018 0.545 0.180 0.400 0.390 3042CD PETRONM-CD 0.395 -0.020 80 13.280 8.500 -0.30 22/02/2018
0.572 0.350 0.415 0.400 0078WB GDEX-WB 0.410 -0.015 93.3 0.640 0.383 23.83 05/02/2020 0.535 0.250 0.390 0.380 3042CE PETRONM-CE 0.390 -0.025 180.5 13.280 10.880 11.30 30/04/2018
0.235 0.025 0.025 0.025 471527 GENM-C27 0.025 -0.015 89.1 5.760 6.000 5.69 22/01/2018 0.385 0.140 0.255 0.255 3042CF PETRONM-CF 0.255 -0.020 100 13.280 11.000 5.87 09/04/2018
0.170 0.065 0.160 0.150 471529 GENM-C29 0.150 -0.005 925 5.760 5.500 5.90 31/07/2018 0.270 0.125 0.185 0.185 3042CH PETRONM-CH 0.185 -0.015 130 13.280 10.880 9.79 29/06/2018
0.250 0.100 0.240 0.220 471530 GENM-C30 0.220 -0.010 860.5 5.760 6.000 13.72 31/07/2018 0.305 0.110 0.220 0.205 3042CJ PETRONM-CJ 0.210 -0.010 400 13.280 13.000 21.61 24/07/2018
0.145 0.070 0.130 0.125 471531 GENM-C31 0.125 -0.005 438.5 5.760 5.800 11.11 24/07/2018 0.290 0.165 0.195 0.180 3042CK PETRONM-CK 0.185 -0.020 1261.5 13.280 12.500 15.02 11/06/2018
0.120 0.050 0.110 0.100 318246 GENTINGC46 0.100 -0.010 368.7 9.360 9.850 10.58 31/07/2018 0.460 0.095 0.450 0.435 8869C1 PMETAL-C1 0.445 0.005 380.7 5.530 3.800 0.90 29/06/2018
0.125 0.075 0.110 0.105 318247 GENTINGC47 0.105 -0.015 11.4 9.360 9.990 14.58 31/07/2018 0.330 0.125 0.330 0.330 8869C2 PMETAL-C2 0.330 0.030 30 5.530 4.100 3.98 29/06/2018
0.125 0.075 0.120 0.115 318248 GENTINGC48 0.115 -0.010 150 9.360 9.800 14.53 25/09/2018 0.290 0.150 0.290 0.270 8869C3 PMETAL-C3 0.280 0.005 2115.2 5.530 4.300 3.07 14/05/2018
0.130 0.070 0.130 0.120 3204CD GKENT-CD 0.120 -0.010 422.3 3.720 3.700 12.37 31/05/2018 0.270 0.145 0.265 0.250 8869C4 PMETAL-C4 0.265 0.005 5328.8 5.530 5.000 9.58 29/06/2018
0.085 0.025 0.035 0.035 0074WA GOCEAN-WA 0.035 -0.005 57 0.165 0.340 127.27 07/08/2019 0.225 0.140 0.225 0.215 8869C5 PMETAL-C5 0.225 0.005 822 5.530 5.350 15.05 24/07/2018
0.145 0.085 0.140 0.135 7022CM GTRONIC-CM 0.140 -0.005 206.6 6.970 6.600 11.76 24/07/2018 0.235 0.085 0.235 0.220 8869C6 PMETAL-C6 0.230 -0.005 1170.1 5.530 5.000 7.05 28/09/2018
0.285 0.110 0.240 0.240 7668CA HAIO-CA 0.240 0.005 20 5.340 4.380 4.49 31/05/2018 0.445 0.135 0.445 0.445 8869CY PMETAL-CY 0.445 0.070 0.1 5.530 3.900 2.71 30/03/2018
0.195 0.110 0.110 0.110 7668CD HAIO-CD 0.110 -0.005 155 5.340 5.500 11.24 30/04/2018 0.120 0.075 0.085 0.075 463413 POS-C13 0.075 -0.010 144 5.350 6.000 22.66 29/06/2018
0.195 0.085 0.145 0.140 3034CV HAPSENG-CV 0.145 -0.005 60 9.550 9.000 1.83 30/04/2018 0.120 0.095 0.100 0.095 463414 POS-C14 0.100 -0.010 448 5.350 5.400 12.15 30/08/2018
0.620 0.145 0.500 0.485 4324CI HENGYUAN-CI 0.490 -0.005 485 17.060 7.880 3.63 29/06/2018 0.215 0.100 0.165 0.155 0186WA PTRANS-WA 0.165 0.005 10687.8 0.310 0.235 29.03 19/09/2020
0.595 0.125 0.475 0.455 4324CJ HENGYUAN-CJ 0.465 -0.005 3407.7 17.060 8.580 4.81 29/06/2018 0.260 0.035 0.235 0.225 0007WA PUC-WA 0.225 -0.005 3164.2 0.330 0.100 -1.52 25/12/2024
0.480 0.300 0.400 0.365 8443WB HIL-WB 0.365 -0.035 15.3 0.840 1.080 72.02 25/10/2027 0.155 0.095 0.155 0.140 7084CI QL-CI 0.155 0.015 380 4.710 4.300 7.75 30/08/2018
0.165 0.120 0.155 0.145 0188WA HLT-WA 0.150 -0.005 827.8 0.290 0.200 20.69 27/12/2022 0.170 0.065 0.135 0.125 5256WA REACH-WA 0.125 -0.010 16343.3 0.455 0.750 92.31 12/08/2022
0.530 0.125 0.200 0.180 5169WA HOHUP-WA 0.180 -0.010 635 0.600 0.600 30.00 21/12/2018 0.180 0.065 0.145 0.130 1066C3 RHBBANK-C3 0.135 -0.010 200 5.100 5.000 5.98 29/06/2018
0.055 0.010 0.030 0.030 7013WA HUBLINE-WA 0.030 -0.005 1145 0.140 3.200 2,208 04/11/2019 0.105 0.075 0.095 0.090 1066C5 RHBBANK-C5 0.090 -0.010 178.5 5.100 5.000 8.63 31/07/2018
0.380 0.150 0.175 0.150 9687WB IDEAL-WB 0.150 -0.030 20 0.700 1.000 64.29 30/03/2021 0.090 0.035 0.060 0.055 5270WA RSENA-WA 0.060 0.005 6935 0.470 0.500 19.15 01/12/2023
0.210 0.130 0.205 0.205 16610 INARI-C10 0.205 -0.005 18.8 3.650 3.800 20.96 31/07/2018 0.075 0.005 0.015 0.010 521848 SAPNRGC48 0.015 0.010 3890.1 0.935 1.980 114.97 30/03/2018
0.195 0.140 0.195 0.175 16611 INARI-C11 0.175 -0.020 1030 3.650 3.200 11.64 30/08/2018 0.075 0.005 0.015 0.010 521849 SAPNRGC49 0.015 0.010 2757 0.935 2.080 125.67 30/03/2018
0.530 0.080 0.515 0.515 0166C3 INARI-C3 0.515 -0.015 10 3.650 2.600 3.68 30/01/2018 0.145 0.010 0.045 0.020 521850 SAPNRGC50 0.030 -0.005 20208.7 0.935 1.600 77.54 29/06/2018
0.440 0.080 0.430 0.400 0166C4 INARI-C4 0.400 -0.040 605 3.650 2.500 1.37 26/04/2018 0.080 0.005 0.020 0.010 521851 SAPNRGC51 0.010 -0.005 18127.6 0.935 1.900 105.35 09/04/2018
0.215 0.070 0.200 0.180 0166C7 INARI-C7 0.180 -0.025 2476.5 3.650 3.500 10.68 14/05/2018 0.080 0.005 0.035 0.025 521852 SAPNRGC52 0.025 -0.010 11855.8 0.935 1.580 77.01 29/06/2018
0.400 0.165 0.400 0.380 0166C8 INARI-C8 0.380 -0.020 30.5 3.650 3.200 10.58 29/06/2018 0.065 0.005 0.030 0.020 521853 SAPNRGC53 0.020 -0.005 9610.6 0.935 1.780 96.79 29/06/2018
0.490 0.150 0.465 0.425 0166C9 INARI-C9 0.430 -0.060 431 3.650 2.800 3.22 30/08/2018 0.090 0.010 0.040 0.025 521855 SAPNRGC55 0.035 -0.005 12461 0.935 1.550 77.01 24/07/2018
0.115 0.020 0.100 0.085 0094WA INIX-WA 0.090 -0.015 6951.4 0.120 0.100 58.33 16/11/2020 0.060 0.005 0.045 0.030 521856 SAPNRGC56 0.030 -0.005 2551 0.935 1.800 98.93 29/06/2018
0.545 0.170 0.390 0.365 3379WB INSAS-WB 0.370 -0.015 1630.8 0.995 1.000 37.69 25/02/2020 0.100 0.040 0.100 0.080 521857 SAPNRGC57 0.085 Unch 9141.3 0.935 1.450 77.81 25/06/2018
0.160 0.070 0.135 0.130 8834WB IREKA-WB 0.135 -0.005 54.5 0.680 1.000 66.91 25/06/2019 0.315 0.070 0.210 0.190 5157WA SAUDEE-WA 0.210 0.010 185.5 0.495 0.500 43.43 31/03/2021
0.070 0.020 0.040 0.035 7183WA IRETEX-WA 0.040 0.005 132.9 0.160 0.800 425.00 10/06/2019 0.025 0.005 0.015 0.010 0109WB SCBUILD-WB 0.010 -0.005 400 0.040 0.050 50.00 06/11/2019
0.075 0.015 0.030 0.020 5161C4 JCY-C4 0.030 0.005 453.5 0.475 0.600 32.63 30/04/2018 0.605 0.295 0.300 0.300 7247WA SCGM-WA 0.300 Unch 7.7 2.360 3.960 80.51 31/07/2020
0.095 0.015 0.040 0.030 5161C5 JCY-C5 0.035 0.010 4147 0.475 0.550 23.16 29/06/2018 0.185 0.075 0.115 0.105 0161WA SCH-WA 0.105 -0.010 505 0.210 0.100 -2.38 04/12/2021
0.080 0.020 0.030 0.025 5161C6 JCY-C6 0.030 0.010 290 0.475 0.585 29.47 29/06/2018 0.785 0.200 0.320 0.290 7073WB SEACERA-WB 0.320 -0.015 2.1 0.905 1.000 45.86 29/05/2019
0.110 0.065 0.105 0.105 8923WA JIANKUN-WA 0.105 -0.005 100 0.330 0.320 28.79 23/12/2021 0.415 0.090 0.400 0.395 5279CB SERBADK-CB 0.395 -0.020 138.2 3.400 2.500 2.57 26/02/2018
0.180 0.100 0.110 0.100 0170WA KANGER-WA 0.105 -0.005 749.7 0.195 0.100 5.13 13/04/2020 0.495 0.120 0.460 0.435 5279CC SERBADK-CC 0.435 -0.025 102.2 3.400 2.150 1.62 26/04/2018
WED N E S DAY JA N UA RY 1 0 , 20 1 8 • T HEED G E FINA NCIA L DA ILY
Markets 2 9
G L O B A L M A R K E T S . B U R S A M A L AY S I A E Q U I T Y D E R I VAT I V E S

Japan — Nikkei hits 26-year high; Fast
Retailing is top contributor
TOKYO: Japan’s Nikkei Share Average hit
a 26-year high yesterday, helped by gains
on Wall Street during a Japanese holiday,
while index heavyweight Fast Retailing
soared on strong December sales.
The Nikkei ended 0.6% higher at
23,849.99, the highest closing level since
November 1991. Japanese markets were
closed on Monday for a national holiday.
Fast Retailing Co rose 1.2% after the
clothing company said last Friday that same-
store sales at its Uniqlo clothing outlets in
Japan rose 18.1% in December on the year.
Fast Retailing added 20 points to the Nikkei
index and was the biggest contributor.
Chip-making equipment manufacturers
and electronic components makers
outperformed, with Tokyo Electron rising
1.7% and TDK Corp adding 0.9%.
Speculation the Bank of Japan (BoJ) may
wind back its monetary stimulus this year
gripped markets yesterday after the central
bank trimmed the amount of its purchases
of Japanese Government Bonds (JGBs).
Traders appeared to latch on to the BoJ
announcement that it will buy less of the
long-dated bonds, sending the US dollar
down about 0.5% against the yen and the
longer dated 20- and 40-year bond yields
up to their highest in a month.
While the move was in line with the
BoJ’s subtle reduction in its bond buying,
the so-called “stealth tapering,” traders
although its advance slowed to a crawl decline since mid-December, led by a 3.7%
said it highlighted how sensitive markets
as the healthcare and financial sectors drop in Biogen Inc and a 3.3% decline in
are to a pullback in the massive stimulus
weighed and investors awaited the start Regeneron Pharmaceuticals Inc.
that has been the centre piece of Primeof the quarterly earnings season. A 0.4% decline in the bank subsector
Minister Shinzo Abe’s “Abenomics” policies The healthcare sector was the S&P’s pressured the broader financials index,
of the past 4½-years. worst performer on Monday, and investors which fell 0.1%. Investors were waiting for
“This goes to show that the amount of
were cautious about pouring money into more details about the impact of recent US
attention being given to the word “tapering”,
bank stocks before the companies kick off corporate tax cuts in 4Q earnings calls when
or any action from the BoJ in that direction
the fourth-quarter (4Q) earnings season the reporting season began later in the week.
that could be taken as a suggestion of it.
later this week. Wells Fargo and Citigroup fell more
There’s a lot of sensitivity around it,” said
“We had a big move last week and than 1%, while Goldman Sachs declined
Bart Wakabayashi, branch manager for everyone knows earnings is coming up. 1.5%. Most big US lenders have estimated
State Street Bank in Tokyo. People don’t want to chase too much further one-off charges to their 4Q earnings on
BoJ governor Haruhiko Kuroda has when you have a round of fundamental account of US tax cuts.
repeatedly dismissed the chance of inputs in the next few weeks,” said Michael Utilities were the S&P’s biggest percentage
withdrawing stimulus any time soon, O’Rourke, chief market strategist at gainers, regaining some ground lost in the
even as some policymakers have recentlyJonesTrading in Greenwich, Connecticut. previous week along with real estate.
expressed concerns over the perceived The Dow Jones Industrial Average Caterpillar rose 2.5% to US$166.03,
demerits of monetary easing, especially the
fell 0.05% to 25,283 points; the S&P 500 just below a record high set earlier in the
hit on financial institutions’ profit margins.
gained 0.17% to 2,747.71; and the Nasdaq day, after JP Morgan upgraded the stock
Yesterday, the markets were surprised
Composite added 0.29% to 7,157.39. saying the tax overhaul could help North
by the central bank’s decision to reduce The three major indices kicked off 2018 America’s construction business cycle
its purchases of JGBs with 10 to 25 years
with their strongest first four trading days in extend in 2018.
more than a decade, according to Reuters
left to maturity as it was the first cut in that Kohl’s Corp rose 4.7% after the
tenor in more than a year. data. The Dow had its strongest start since department store operator posted far
In all, the BoJ cut buying of 10-to-25-
2003, and the Nasdaq and S&P 500 had stronger same-store sales for the holidays
year bonds and 25-to-40-year paper by ¥10
their strongest starts since 2006. than its bigger peers.
billion each, from its previous operations, Historically, the first five trading days of GoPro Inc shares ended down 12.8% at
to ¥190 billion and ¥80 billion respectively.
January can be an indicator for the market’s US$6.56 after the company said it would be
direction for the full year, according to the open to a sale but is not actively pursuing one.
US — S&P 500 keeps New Year’s rally Stock Traders Almanac. Earlier in the day, the shares lost about a third
alive; Dow eases The S&P 500’s healthcare sector ended of their value, hitting a record low of US$5.04,
0.4% lower. Last week, it rose 3.2%. after they announced preliminary 4Q revenue
NEW YORK: The S&P 500 Index extended The Nasdaq Biotech Index fell 1.4%, on that was well below expectations and said it
its winning streak for 2018 on Monday, track for its biggest one-day percentage would exit the drone business. — Reuters

Nikkei 225 Shanghai Composite Dow Jones Euro STOXX 50 Index

Index points Index points Index points Index points
23800 5800 26500 3900
3,413.90
+4.42
4825 (+0.13%)
19875 22275 3415
2,772.70
15950 3850 18050 2930
10,172.06 10,403.79
23,849.99 3,087.842
12025 +135.46 2875 13825 25,283.00
2445 3,616.45
(+0.57%) -12.87 +8.82
(-0.05%) (+0.24%)
8100 1900 9600 1960
Mar 1, 2010 Jan 9, 2018 Mar 1, 2010 Jan 9, 2018 Mar 1, 2010 Jan 8, 2018 Mar 1, 2010 Jan 8, 2018

Bursa Malaysia Equity Derivatives YEAR

HIGH
YEAR
LOW
DAY
HIGH
DAY
LOW
CODE WARRANTS CLOSE
(RM)
+/-
(RM)
VOL PARENT
(‘000)
EXE
PRICE PRICE
PR’M
(%)
EXPIRY
DATE
0.025 0.005 0.005 0.005 7079WB TIGER-WB 0.005 Unch 297.7 0.050 0.170 250.00 23/12/2018
Main Market & Ace Market Warrants 0.040 0.015 0.030 0.025 7079WC TIGER-WC 0.025 -0.005 700 0.050 0.080 110.00 11/02/2021
0.130 0.020 0.025 0.025 5031CO TIMECOM-CO 0.025 -0.005 1.6 9.050 9.750 9.67 30/04/2018
YEAR YEAR DAY DAY CODE WARRANTS CLOSE +/- VOL PARENT EXE PR’M EXPIRY 0.125 0.040 0.085 0.080 486320 TM-C20 0.080 -0.005 610.6 6.100 6.400 7.54 31/05/2018
HIGH LOW HIGH LOW (RM) (RM) (‘000) PRICE PRICE (%) DATE 0.280 0.125 0.175 0.170 0101WB TMCLIFE-WB 0.170 -0.005 500 0.845 0.750 8.88 21/06/2019
0.485 0.135 0.415 0.410 7285WA TOMYPAK-WA 0.410 -0.010 133.5 0.970 0.930 38.14 21/06/2021
0.215 0.120 0.190 0.180 5279CF SERBADK-CF 0.180 -0.025 76 3.400 2.580 7.65 31/07/2018 0.480 0.090 0.480 0.460 711320 TOPGLOV-C20 0.465 -0.005 490 8.990 5.800 0.72 30/04/2018
0.175 0.085 0.165 0.155 5279CG SERBADK-CG 0.155 -0.010 11 3.400 2.880 12.06 31/07/2018 0.380 0.125 0.380 0.335 711324 TOPGLOV-C24 0.340 -0.030 2380.7 8.990 7.000 4.72 24/07/2018
0.240 0.150 0.205 0.200 5279CH SERBADK-CH 0.205 -0.010 367.2 3.400 2.900 9.41 11/06/2018 0.280 0.095 0.280 0.255 711325 TOPGLOV-C25 0.255 -0.020 936.4 8.990 6.880 4.89 31/07/2018
0.250 0.165 0.220 0.200 5279CI SERBADK-CI 0.215 -0.005 3301.6 3.400 3.400 22.13 31/07/2018 0.485 0.155 0.480 0.450 711326 TOPGLOV-C26 0.450 -0.035 904.7 8.990 7.000 2.89 11/06/2018
0.205 0.070 0.195 0.195 7165WA SGB-WA 0.195 Unch 244.5 0.610 0.600 30.33 07/04/2021 0.325 0.155 0.230 0.190 7176WA TPC-WA 0.210 0.020 349.6 0.410 0.200 0.00 19/01/2021
0.205 0.070 0.195 0.195 7165WA SGB-WA 0.195 Unch 244.5 0.610 0.600 30.33 07/04/2021 0.060 0.017 0.030 0.025 0118WB TRIVE-WB 0.025 -0.005 4430.4 0.055 0.090 109.09 28/08/2020
0.350 0.150 0.195 0.180 7246WA SIGN-WA 0.190 -0.005 421.9 0.745 0.970 55.70 21/04/2021 0.360 0.200 0.220 0.210 5401WA TROP-WA 0.210 -0.015 391.5 0.925 1.000 30.81 06/12/2019
0.155 0.005 0.125 0.100 419715 SIME-C15 0.115 -0.015 1533.9 2.690 10.00 293.12 19/03/2018 0.425 0.120 0.170 0.170 5042WB TSRCAP-WB 0.170 Unch 15 0.535 0.700 62.62 28/12/2020
0.395 0.085 0.340 0.285 419716 SIME-C16 0.315 -0.015 1379.5 2.690 2.500 16.36 31/07/2018 0.460 0.025 0.390 0.380 0005WA UCREST-WA 0.385 -0.005 463.6 0.425 0.040 0.00 20/03/2018
0.570 0.195 0.505 0.425 419717 SIME-C17 0.440 -0.050 874.1 2.690 1.880 2.60 30/08/2018 0.060 0.005 0.035 0.025 514846 UEMS-C46 0.025 -0.005 983 1.170 1.300 13.78 30/03/2018
0.515 0.160 0.460 0.385 419718 SIME-C18 0.400 -0.045 575 2.690 2.000 4.09 30/08/2018 0.150 0.035 0.100 0.090 514847 UEMS-C47 0.090 -0.015 479 1.170 1.000 0.85 30/01/2018
0.175 0.130 0.165 0.160 5285CA SIMEPLT-CA 0.165 Unch 1310.1 5.600 5.650 12.68 30/08/2018 0.085 0.020 0.045 0.045 514850 UEMS-C50 0.045 Unch 100 1.170 1.240 13.68 26/04/2018
0.160 0.110 0.150 0.140 5285CB SIMEPLT-CB 0.145 Unch 433.3 5.600 5.800 13.93 30/08/2018 0.075 0.010 0.035 0.025 514851 UEMS-C51 0.030 -0.005 2760 1.170 1.200 7.69 22/02/2018
0.210 0.035 0.200 0.165 5288CA SIMEPROP-CA 0.175 -0.015 4477.2 1.640 1.450 9.76 30/08/2018 0.160 0.040 0.125 0.115 514852 UEMS-C52 0.120 -0.005 3737.1 1.170 1.100 6.84 31/05/2018
0.295 0.120 0.280 0.220 5288CB SIMEPROP-CB 0.235 -0.035 942 1.640 1.680 16.77 30/08/2018 0.050 0.020 0.050 0.040 514853 UEMS-C53 0.045 Unch 7239.2 1.170 1.250 15.30 30/04/2018
0.280 0.145 0.265 0.255 7155CG SKPRES-CG 0.265 -0.010 636 2.300 1.900 7.96 29/06/2018 0.220 0.015 0.220 0.175 4588C2 UMW-C2 0.220 0.045 8423.8 6.370 5.700 6.75 30/04/2018
0.200 0.160 0.200 0.195 7155CH SKPRES-CH 0.195 0.005 40 2.300 2.150 14.67 27/07/2018 0.210 0.100 0.210 0.185 4588C3 UMW-C3 0.205 0.020 753.4 6.370 5.900 8.71 11/06/2018
0.235 0.160 0.230 0.210 7155CI SKPRES-CI 0.215 -0.015 653.6 2.300 2.100 10.00 11/06/2018 0.270 0.095 0.255 0.220 5243WA UMWOG-WA 0.230 -0.015 45204.2 0.425 0.395 47.06 18/10/2024
0.245 0.040 0.050 0.050 9776WB SMCAP-WB 0.050 Unch 134.5 0.545 1.000 92.66 13/07/2018 0.105 0.040 0.060 0.060 5005C1 UNISEM-C1 0.060 -0.005 64 3.390 4.000 26.49 24/07/2018
0.344 0.120 0.125 0.125 5242WA SOLID-WA 0.125 -0.015 12.7 0.345 0.210 -2.90 16/12/2020 0.110 0.075 0.090 0.075 5005C2 UNISEM-C2 0.080 -0.005 473.6 3.390 3.650 17.11 27/07/2018
0.285 0.100 0.135 0.130 0093WA SOLUTN-WA 0.130 -0.005 195 0.250 0.200 32.00 04/07/2021 0.200 0.015 0.040 0.035 5005CZ UNISEM-CZ 0.040 Unch 1568.2 3.390 3.800 15.63 31/05/2018
0.185 0.070 0.105 0.095 8664C1 SPSETIA-C1 0.095 -0.010 102 3.410 3.409 5.40 19/03/2018 0.335 0.200 0.270 0.260 0120WB VIS-WB 0.260 -0.010 238.2 0.605 0.750 66.94 16/11/2022
0.220 0.130 0.210 0.195 8664C3 SPSETIA-C3 0.210 Unch 130.1 3.410 3.166 4.83 30/08/2018 0.365 0.115 0.355 0.355 0097CD VITROX-CD 0.355 -0.010 20 6.760 4.800 2.51 19/04/2018
0.115 0.080 0.100 0.090 8664C4 SPSETIA-C4 0.095 0.005 150 3.410 4.000 24.27 31/07/2018 0.340 0.130 0.330 0.315 0097CE VITROX-CE 0.315 -0.010 810.1 6.760 5.000 1.92 09/04/2018
0.085 0.060 0.075 0.075 8664C5 SPSETIA-C5 0.075 0.005 10 3.410 3.550 12.90 24/08/2018 0.280 0.095 0.275 0.270 0097CG VITROX-CG 0.270 -0.010 218 6.760 4.800 2.96 30/04/2018
0.180 0.115 0.140 0.140 8664CZ SPSETIA-CZ 0.140 Unch 15 3.410 3.020 4.54 26/04/2018 0.250 0.135 0.245 0.240 0097CH VITROX-CH 0.240 -0.010 72.2 6.760 6.500 17.46 31/07/2018
0.140 0.050 0.075 0.065 0129WA SRIDGE-WA 0.065 Unch 753.5 0.190 0.180 28.95 24/02/2023 0.090 0.025 0.045 0.040 0069WB VIVOCOM-WB 0.045 Unch 6120.4 0.140 0.200 75.00 07/09/2018
0.125 0.020 0.080 0.075 0140WA STERPRO-WA 0.080 Unch 922.4 0.295 0.480 89.83 17/02/2021 0.125 0.050 0.085 0.085 0069WC VIVOCOM-WC 0.085 -0.005 743.3 0.140 0.100 32.14 22/01/2020
0.150 0.020 0.050 0.030 7143WA STONE-WA 0.030 Unch 411 0.210 0.300 57.14 21/06/2020 0.115 0.055 0.085 0.085 0069WD VIVOCOM-WD 0.085 -0.005 1052.9 0.140 0.100 32.14 08/07/2020
0.190 0.095 0.190 0.185 0080WA STRAITS-WA 0.185 -0.005 4165.7 0.290 0.115 3.45 10/08/2022 0.055 0.020 0.045 0.040 7070WB VIZIONE-WB 0.040 Unch 3520.9 0.175 0.160 14.29 20/06/2018
0.060 0.015 0.045 0.040 1201WA SUMATEC-WA 0.045 0.010 4249.6 0.065 0.320 461.54 03/03/2021 0.140 0.030 0.130 0.125 7070WC VIZIONE-WC 0.125 -0.005 855.8 0.175 0.100 28.57 05/02/2022
0.060 0.015 0.030 0.020 1201WB SUMATEC-WB 0.025 Unch 36414.1 0.065 0.175 207.69 13/11/2018 0.335 0.115 0.295 0.295 6963CP VS-CP 0.295 0.005 30 3.130 2.180 -2.08 30/03/2018
0.150 0.085 0.150 0.130 5263CL SUNCON-CL 0.150 0.035 410 2.600 2.300 5.77 26/04/2018 0.330 0.105 0.300 0.265 6963CQ VS-CQ 0.295 0.035 153 3.130 2.280 1.12 30/03/2018
0.220 0.125 0.220 0.190 5263CM SUNCON-CM 0.220 0.040 472.5 2.600 2.300 3.27 31/07/2018 0.215 0.140 0.195 0.175 6963CR VS-CR 0.195 0.015 150 3.130 2.480 4.15 29/06/2018
0.120 0.075 0.120 0.120 5263CN SUNCON-CN 0.120 0.030 10 2.600 2.600 13.85 29/06/2018 0.190 0.115 0.170 0.140 6963CS VS-CS 0.170 0.025 7994.8 3.130 2.680 7.35 29/06/2018
0.165 0.110 0.165 0.165 5263CO SUNCON-CO 0.165 0.030 50 2.600 2.400 8.17 24/07/2018 0.280 0.195 0.230 0.225 6963CT VS-CT 0.225 0.010 249.8 3.130 2.800 7.43 29/06/2018
0.505 0.185 0.340 0.320 3743WA SUNSURIA-WA 0.340 0.010 0.6 1.280 1.500 43.75 22/07/2020 0.120 0.065 0.090 0.070 6963CU VS-CU 0.085 0.015 6419.5 3.130 3.500 19.97 31/05/2018
0.325 0.140 0.200 0.200 0148WA SUNZEN-WA 0.200 -0.015 10 0.310 0.100 -3.23 14/04/2019 0.085 0.050 0.060 0.050 6963CV VS-CV 0.060 0.010 70.5 3.130 3.600 22.68 14/05/2018
0.235 0.070 0.140 0.135 0148WB SUNZEN-WB 0.135 -0.005 70 0.310 0.250 24.19 25/02/2021 0.110 0.080 0.110 0.095 6963CW VS-CW 0.105 0.010 1198 3.130 3.300 17.17 24/07/2018
0.190 0.010 0.190 0.060 710627 SUPERMX-C27 0.170 0.115 64645.2 2.310 2.000 1.30 02/02/2018 0.150 0.045 0.135 0.115 9679C3 WCT-C3 0.130 -0.010 3519.3 1.780 1.700 8.29 29/06/2018
0.075 0.005 0.075 0.015 710628 SUPERMX-C28 0.070 0.055 6226 2.310 2.200 2.81 22/01/2018 0.080 0.030 0.080 0.065 9679C4 WCT-C4 0.070 -0.010 594 1.780 1.850 12.98 30/04/2018
0.170 0.020 0.170 0.065 710629 SUPERMX-C29 0.140 0.075 6075.6 2.310 1.900 1.04 30/01/2018 0.065 0.025 0.050 0.045 9679C5 WCT-C5 0.045 -0.005 100 1.780 2.200 29.92 14/05/2018
0.230 0.065 0.230 0.145 710631 SUPERMX-C31 0.210 0.075 11071.9 2.310 2.100 9.09 29/06/2018 0.570 0.180 0.320 0.285 9679WE WCT-WE 0.295 -0.015 2735.3 1.780 2.080 33.43 27/08/2020
0.240 0.090 0.240 0.155 710632 SUPERMX-C32 0.235 0.090 3599.7 2.310 1.800 8.44 24/07/2018 0.140 0.040 0.075 0.070 5246CT WPRTS-CT 0.070 -0.010 115 3.530 3.650 9.35 30/04/2018
0.255 0.085 0.255 0.140 710633 SUPERMX-C33 0.240 0.105 10220.8 2.310 1.880 12.55 24/07/2018 0.130 0.010 0.080 0.070 5156WC XDL-WC 0.075 -0.010 1740.1 0.170 0.160 38.24 02/07/2018
0.220 0.085 0.100 0.090 7082WB SYF-WB 0.090 -0.010 287 0.410 0.700 92.68 11/11/2019 0.020 0.005 0.015 0.010 0095WA XINGHE-WA 0.010 Unch 37311.1 0.050 0.100 120.00 22/03/2019
0.365 0.130 0.180 0.180 1538WB SYMLIFE-WB 0.180 -0.010 85 0.770 1.100 66.23 11/11/2020 0.110 0.040 0.065 0.055 0165WA XOX-WA 0.055 Unch 8296.3 0.125 0.200 104.00 10/02/2019
0.190 0.105 0.150 0.150 4898CG TA-CG 0.150 0.005 200 0.690 0.600 8.70 31/05/2018 0.260 0.165 0.200 0.180 7003WA Y&G-WA 0.180 -0.020 12.1 0.910 1.000 29.67 16/11/2019
0.160 0.075 0.120 0.110 4898CH TA-CH 0.115 0.015 544 0.690 0.655 11.59 31/05/2018 0.215 0.095 0.190 0.190 7293CN YINSON-CN 0.190 -0.025 50 4.160 3.600 4.81 22/03/2018
0.100 0.095 0.095 0.095 4898CI TA-CI 0.095 -0.005 10 0.690 0.705 15.94 31/05/2018 0.200 0.100 0.180 0.165 7293CO YINSON-CO 0.165 -0.020 103 4.160 4.500 20.07 29/06/2018
0.330 0.065 0.105 0.070 8524WB TALIWRK-WB 0.080 -0.020 332.2 1.090 1.700 63.30 11/11/2018 0.135 0.095 0.110 0.110 7293CP YINSON-CP 0.110 -0.010 10 4.160 4.500 18.75 11/06/2018
0.130 0.045 0.050 0.050 0132WA TDEX-WA 0.050 Unch 237 0.135 0.110 18.52 21/09/2018 0.110 0.035 0.060 0.055 7020WB YKGI-WB 0.060 Unch 424.2 0.190 0.500 194.74 28/05/2020
0.640 0.170 0.290 0.285 7200WA TEKSENG-WA 0.290 -0.005 40 0.460 0.250 17.39 29/01/2020 0.145 0.020 0.145 0.120 467712 YTL-C12 0.145 0.015 920.7 1.440 1.350 3.82 29/06/2018
0.295 0.050 0.295 0.270 534739 TENAGA-C39 0.290 0.030 3418.9 15.879 14.600 1.08 29/06/2018 0.050 0.010 0.045 0.035 467713 YTL-C13 0.045 0.005 1251 1.440 1.471 8.25 09/04/2018
0.100 0.055 0.100 0.090 534740 TENAGA-C40 0.095 0.010 4501.7 15.880 16.000 6.74 24/07/2018 0.115 0.005 0.015 0.015 6742C1 YTLPOWR-C1 0.015 Unch 330 1.320 1.400 7.20 28/02/2018
0.270 0.095 0.270 0.250 534741 TENAGA-C41 0.255 0.025 661.3 15.880 15.500 4.83 29/06/2018 0.115 0.025 0.105 0.105 6742C2 YTLPOWR-C2 0.105 -0.010 100 1.320 1.300 6.44 30/08/2018
0.165 0.095 0.165 0.155 534742 TENAGA-C42 0.155 0.005 791 15.880 15.000 3.24 11/06/2018 0.435 0.100 0.200 0.190 6742WB YTLPOWR-WB 0.195 -0.005 561.1 1.320 1.110 -1.14 11/06/2018
0.490 0.215 0.340 0.290 7252WA TEOSENG-WA 0.340 0.050 198 0.915 1.350 84.70 29/01/2020 0.095 0.025 0.045 0.035 2283WA ZELAN-WA 0.035 -0.010 852.4 0.125 0.250 128.00 25/01/2019
0.160 0.045 0.085 0.080 0145WA TFP-WA 0.085 Unch 740 0.170 0.100 8.82 15/02/2019
Please refer to the Bursa Malaysia website for the prices of loan stocks, bonds and overseas structure warrants
 3 0 Markets WEDN ESDAY JAN UARY 1 0 , 2 0 1 8 • TH EEDGE F I N AN C I AL DAI LY

INSIDER MOVES . TRADING THEMES . EVENTS . FOREX

Insider moves (Filings on Jan 8, 2018) Trading themes

Insider Moves show what substantial shareholders are doing with their stakes, which could be a signal of their views on the company’s outlook. Chicago wheat falls in early 2018
COMPANY SHARES ACQUIRED DIRECTOR/SUBSTANTIAL SHARES HELD TRANSACTION
(DISPOSED) SHAREHOLDER AFTER CHANGE DATE
AMMB (1,060,100) EMPLOYEES PROVIDENT FUND BOARD 287,436,037 3/1
ASTRO MALAYSIA 4,176,700 EMPLOYEES PROVIDENT FUND BOARD 370,990,000 4/1
AXIATA GROUP 1,645,500 EMPLOYEES PROVIDENT FUND BOARD 1,472,636,391 2/1
BERMAZ AUTO (500,000) KUMPULAN WANG PERSARAAN 66,707,720 4/1
(DIPERBADANKAN)
BURSA MALAYSIA (2,500,000) EMPLOYEES PROVIDENT FUND BOARD 40,706,894 3/1
CIMB GROUP 9,356,300 EMPLOYEES PROVIDENT FUND BOARD 1,328,642,342 26 TO 29/12
CWG 4,000,000 SAY BENG S/B 11,310,126 5/1
DIGI.COM 2,050,000 EMPLOYEES PROVIDENT FUND BOARD 1,138,816,672 2 & 3/1
DIVERSIFIED GATEWAY SOLUTIONS (4,610,000) LAU CHI CHIANG 5/1
DRB-HICOM (6,653,700) EMPLOYEES PROVIDENT FUND BOARD 107,804,841 2 & 3/1
FELDA GLOBAL VENTURES 986,000 KUMPULAN WANG PERSARAAN 265,627,100 4/1
(DIPERBADANKAN)
FOUNDPAC GROUP (1,860,000) ACME SKY 31,049,400 5/1
GADANG 1,000,000 EMPLOYEES PROVIDENT FUND BOARD 39,973,350 3/1
HOVID 15,109,700 FAJAR ASTORIA S/B 319,521,706 3 TO 5/1
IHH HEALTHCARE (919,500) EMPLOYEES PROVIDENT FUND BOARD 712,657,900 3/1
INARI AMERTRON 679,900 KUMPULAN WANG PERSARAAN 203,828,650 4/1
(DIPERBADANKAN)
INARI AMERTRON (2,800,000) HO PHON GUAN 26,533,752 3 & 4/1
IOI CORPORATION (1,014,100) EMPLOYEES PROVIDENT FUND BOARD 686,356,273 3/1
IRIS CORPORATION 1,280,000 CAPRICE DEVELOPMENT 225,998,405 4/1
JADI IMAGING (2,000,000) LIEW KIM SIONG 20,017,045 3/1
JHM CONSOLIDATION (400,100) KHOR THEAN LEE 599,900 3 & 5/1
JIANKUN INTERNATIONAL 763,700 ADVANCE INFORMATION MARKETING 11,550,900 5/1
LBI CAPITAL (620,000) NG TIONG SENG CORPORATION 11,641,000 4/1
MALAYAN BANKING 16,000,000 AMANAHRAYA TRUSTEES 3,701,203,547 4/1
- SKIM AMANAH SAHAM BUMIPUTERA
MALAYAN BANKING (4,950,000) EMPLOYEES PROVIDENT FUND BOARD 1,339,650,361 3/1
MALAYSIA AIRPORTS (657,500) EMPLOYEES PROVIDENT FUND BOARD 189,245,292 3/1 China’s net imports of refined zinc from 2009 to 2017
MALAYSIAN RESOURCES 1,257,900 LEMBAGA TABUNG HAJI 315,744,646 5/1
CORPORATION
MAXIS 2,456,300 EMPLOYEES PROVIDENT FUND BOARD 899,139,424 3/1
MAXWELL INTERNATIONAL (7,000,000) LI KWAI CHUN, HONG KONG 99,016,046 5/1

MUHIBBAH ENGINEERING (M) (1,500,000) LEMBAGA TABUNG HAJI 48,017,600 5/1

MY E.G. SERVICES 2,654,400 EMPLOYEES PROVIDENT FUND BOARD 184,922,300 27/12
PANTECH GROUP (1,248,910) KOPERASI PERMODALAN FELDA MALAYSIA 73,549,400 3 TO 5/1
PUBLIC BANK (1,885,800) EMPLOYEES PROVIDENT FUND BOARD 569,837,800 3/1
ROHAS TECNIC 4,000,000 TAN SRI NIK AWANG 206,799,241 5/1
@ WAN AZMI WAN HAMZAH
ROHAS TECNIC (4,000,000) PUAN SRI NIK ANIDA NIK MANSHOR 206,799,241 5/1
S P SETIA 113,057,807 PERMODALAN NASIONAL 960,991,362 4/1
S P SETIA 104,022,882 AMANAHRAYA TRUSTEES 887,338,103 4/1
- SKIM AMANAH SAHAM BUMIPUTERA
SAPURA ENERGY 4,948,500 EMPLOYEES PROVIDENT FUND BOARD 678,463,344 3/1
SERBA DINAMIK (2,000,000) DATO DR IR MOHD ABDUL KARIM ABDULLAH 335,871,100 5/1
SIME DARBY PLANTATION 5,384,400 EMPLOYEES PROVIDENT FUND BOARD 826,319,331 3/1
STAR MEDIA GROUP 1,223,200 EMPLOYEES PROVIDENT FUND BOARD 62,598,500 3/1
SUNWAY REAL ESTATE 2,624,000 EMPLOYEES PROVIDENT FUND BOARD 415,860,200 29/12
INVESTMENT TRUST
TENAGA NASIONAL (5,446,500) EMPLOYEES PROVIDENT FUND BOARD 664,863,782 3/1
TENAGA NASIONAL 788,700 AMANAHRAYA TRUSTEES 456,949,600 4/1
- SKIM AMANAH SAHAM BUMIPUTERA
TIME DOTCOM 4,375,700 EMPLOYEES PROVIDENT FUND BOARD 55,754,200 3/1
VERTICE (1,900,000) VISTA LESTARI DEVELOPMENT 37,085,588 5/1
WCT (863,500) LEMBAGA TABUNG HAJI 115,298,002 5/1
While every effort is made to ensure accuracy, the information presented is not an exhaustive list and is not an official record of shareholder
filings. Direct and indirect share are combined due to space constraints. Readers who are interested should check the official filings filed with
Bursa Malaysia. Note: * denotes Ace Market Stocks closest to year high Stocks closest to year low
STOCK HIGH LOW CLOSE VOLUME STOCK HIGH LOW CLOSE VOLUME
(RM) (RM) (RM) ('000) (RM) (RM) (RM) ('000)

Local events to watch out for today BAHVEST-WA

PARAMON
0.400
1.890
0.385
1.840
0.400
1.860
882.4
295.2
AXREIT
HSI-H2R
1.450
0.040
1.400
0.035
1.400
0.035
475.6
79
HIGHTEC 1.320 1.270 1.320 27.6 HSI-H2X 0.370 0.350 0.350 76
• Aariana Hospitality International, to- Bhd Sales Gallery, Lot 59244, Jalan BP SUPERMX-C30 0.575 0.345 0.560 2187.4 WELLCAL 1.480 1.450 1.460 937.9
gether with Furama Bukit Bintang Hotel, 7/15 Bandar Bukit Puchong at 10.30am. SUPERMX-C29 0.170 0.065 0.140 6075.6 IDEAL-WB 0.175 0.150 0.150 20
are jointly hosting a presentation on the • MOL Global, Inc is officially launching its SUPERMX-C32 0.240 0.155 0.235 3599.7 LEBTECH 1.300 1.300 1.300 0.2
Employment Insurance System to be im- latest mobile payment app to enable Ma- SUPERMX-C27 0.190 0.060 0.170 64645.2 UNISEM-C2 0.090 0.075 0.080 473.6
plemented with effect from January 2018 laysia to move towards a cashless econ- QL 4.750 4.580 4.710 201.2 SP500-HB 0.185 0.180 0.180 50
SUPERMX-C33 0.255 0.140 0.240 10220.8 TA-CI 0.095 0.095 0.095 10
at Furama Bukit Bintang, Saffron I and omy at Greyhound Café, Lot 02, Ground SUPERMX 2.390 2.090 2.310 22231.3 SLP 1.530 1.470 1.490 35.9
II, 27th Floor, Changkat Thambi Dollah, Floor, ANSA, 101 Jalan Bukit Bintang, SUPERMX-C31 0.230 0.145 0.210 11071.9 HSI-H4A 0.660 0.635 0.635 92.9
Kuala Lumpur from 10am to 12pm. Kuala Lumpur from 10.30am to 2pm. QL-CI 0.155 0.140 0.155 380 HSI-H2S 0.095 0.075 0.080 1614
• Kick start the new year with Kenny Rogers • Launch announcement of the Kuala Lum- HUAAN 0.550 0.495 0.540 104660.5 NATWIDE 0.565 0.540 0.540 73.2
Roasters as its Roasters Eating Day event pur International Motor Show, officiated SUPERMX-C28 0.075 0.015 0.070 6226 HSI-H2Y 0.590 0.555 0.580 549.8
returns for the ninth year at Kenny Rogers by Minister of International Trade and PA 0.110 0.095 0.105 123781.3 HSI-H2W 0.380 0.360 0.365 379
UMW 6.440 6.180 6.370 4874 MFCB-CA 0.035 0.025 0.025 90
Roasters, Mid Valley Megamall, Lot LG063, Industry Datuk Seri Mustapa Mohamed, UMW-C3 0.210 0.185 0.205 753.4 MESB-WA 0.230 0.205 0.215 4071.2
Lingkaran Syed Putra, Mid Valley City, at the Malaysia International Trade and LEESK 0.425 0.405 0.420 2201.6 ANNJOO-CJ 0.080 0.070 0.075 301
Kuala Lumpur from 10am to12.30pm. Exhibition Centre, Multipurpose Hall, MGB 1.860 1.820 1.850 1071.7 POS-C14 0.100 0.095 0.100 448
• TAHPS Group Bhd, a property and plan- Level 3, Jalan Sultan Haji Ahmad Shah, PMETAL-C2 0.330 0.330 0.330 30 FPGROUP 0.465 0.390 0.460 15396.5
tations company, will be launching a new Kuala Lumpur at 4pm. This table shows stocks that are trading near their year high. This This table shows stocks that are trading near their year low. This
brand at Bukit Hitam Development Sdn could suggest a build-up in buying momentum, or the possibility that
profit-taking activities could set in later.
could suggest a build-up in selling momentum, or the possibility that
bargain hunting could set in later.

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 $ 0.603 0.719 0.707 0.532 0.894 0.959 0.960 0.918 2.8847 4.692 59.823 4.489 2.642 9,663 45.818 80.947 5.828 36.162 2.618 2.697 5.925 23.187 5.625
EURO 1.659 1.193 1.173 0.882 1.482 1.591 1.593 1.524 4.7855 7.784 99.242 7.448 4.382 16,030 76.009 134.285 9.668 59.990 4.343 4.474 9.829 38.465 9.332
US $ 1.390 0.838 0.983 0.740 1.242 1.334 1.335 1.277 4.0110 6.524 83.180 6.242 3.673 13,435 63.707 112.552 8.103 50.281 3.640 3.750 8.238 32.240 7.822
SWISS FR 1.415 0.853 1.018 0.753 1.264 1.357 1.358 1.299 4.0812 6.638 84.636 6.352 3.737 13,671 64.822 114.521 8.245 51.161 3.704 3.816 8.382 32.804 7.958
STERLING £ 1.880 1.133 1.352 1.329 1.680 1.803 1.805 1.726 5.4229 8.820 112.460 8.440 4.966 18,165 86.132 152.170 10.955 67.980 4.921 5.070 11.138 43.589 10.575
CANADA $ 1.119 0.675 0.805 0.791 0.595 1.073 1.074 1.028 3.2282 5.251 66.946 5.024 2.956 10,813 51.274 90.586 6.522 40.468 2.930 3.018 6.630 25.948 6.295
BRUNEI $ 1.043 0.628 0.750 0.737 0.555 0.932 1.001 0.957 3.0074 4.892 62.367 4.680 2.754 10,074 47.767 84.390 6.076 37.700 2.729 2.812 6.177 24.173 5.865
SINGAPORE $ 1.042 0.628 0.749 0.736 0.554 0.931 0.999 0.957 3.0045 4.887 62.307 4.676 2.751 10,064 47.721 84.308 6.070 37.664 2.727 2.809 6.171 24.150 5.859
AUSTRALIA $ 1.089 0.656 0.783 0.770 0.579 0.973 1.044 1.045 3.1410 5.109 65.138 4.888 2.876 10,521 49.889 88.139 6.345 39.375 2.850 2.937 6.451 25.247 6.125
MALAYSIA RM 0.347 0.209 0.249 0.245 0.184 0.310 0.333 0.333 0.318 1.0000 1.627 20.738 1.556 0.916 3,350 15.883 28.061 2.020 12.536 0.908 0.935 2.054 8.038 1.950
100 CHINESE RMB 21.313 12.847 15.328 15.064 11.337 19.045 20.443 20.463 19.574 61.4810 1,275 95.683 56.300 205,939 976.509 1,725 124.204 770.709 55.794 57.483 126.270 494.177 119.890
100 BANGLAD’H TAKA 1.672 1.008 1.202 1.182 0.889 1.494 1.603 1.605 1.535 4.8221 7.843 7.505 4.416 16,152 76.589 135.311 9.742 60.448 4.376 4.509 9.904 38.759 9.403
100 DANISH KRONER 22.274 13.427 16.020 15.744 11.849 19.904 21.366 21.386 20.457 64.2550 104.51 1,333 58.840 215,231 1,020.57 1,803 129.81 805.48 58.31 60.08 131.97 516.47 125.30
100 UAE DIRHAM 37.856 22.819 27.226 26.757 20.137 33.828 36.311 36.346 34.767 109.2023 177.62 2,265 169.95 365,788 1,734 3,064 220.61 1,369 99.10 102.10 224.28 877.75 212.95
1000 INA RUPIAH 0.010 0.006 0.007 0.007 0.006 0.009 0.010 0.010 0.010 0.0299 0.049 0.619 0.046 0.027 0.474 0.838 0.060 0.374 0.027 0.028 0.061 0.240 0.058
100 INDIA RUPEE 2.183 1.316 1.570 1.543 1.161 1.950 2.094 2.096 2.004 6.2960 10.241 130.566 9.798 5.765 21,089 176.670 12.719 78.925 5.714 5.887 12.931 50.606 12.277
100 JAPAN YEN 1.235 0.745 0.888 0.873 0.657 1.104 1.185 1.186 1.135 3.5637 5.796 73.904 5.546 3.263 11,937 56.603 7.199 44.674 3.234 3.332 7.319 28.645 6.949
100 NORWEGIAN KRONER 17.159 10.344 12.341 12.129 9.128 15.334 16.459 16.475 15.759 49.5000 80.513 1,027 77.037 45.329 165,807 786.213 1,389 620.518 44.921 46.281 101.664 397.875 96.527
100 PHILIPPINE PESO 2.765 1.667 1.989 1.955 1.471 2.471 2.653 2.655 2.540 7.9772 12.975 165.431 12.415 7.305 26,721 126.703 223.846 16.116 7.239 7.459 16.384 64.120 15.556
100 QATAR RIYAL 38.199 23.026 27.473 27.000 20.320 34.134 36.640 36.676 35.082 110.1923 179.230 2,285 171.492 100.907 369,104 1,750 3,092 222.611 1,381 103.027 226.314 885.712 214.879
100 SAUDI RIYAL 37.076 22.350 26.665 26.207 19.723 33.131 35.564 35.598 34.051 106.9543 173.963 2,218 166.453 97.941 358,258 1,699 3,001 216.069 1,341 97.062 219.664 859.685 208.565
100 SWEDISH KRONOR 16.879 10.174 12.139 11.930 8.979 15.083 16.190 16.206 15.501 48.6900 79.195 1,009.733 75.776 44.587 163,094 773.348 1,366 98.364 610.365 44.186 45.524 391.364 94.947
100 THAI BAHT 4.313 2.600 3.102 3.048 2.294 3.854 4.137 4.141 3.961 12.4411 20.236 258.004 19.362 11.393 41,673 197.603 349.106 25.134 155.958 11.290 11.632 25.552 24.261
100 HK$ 17.777 10.716 12.785 12.565 9.456 15.885 17.052 17.068 16.326 51.2811 83.410 1,063.467 79.809 46.960 171,773 814.503 1,439 103.598 642.846 46.538 47.947 105.322 412.191
Note: Run your finger down the left-hand side until you reach the country of origin you plan to exchange. Then move your finger until that line intersects with the vertical column of the currency you wish to buy. The figure is how much you will get. The above rates are subject to change and provided by Thompson Reuters.
WED N ES DAY JA N UA RY 1 0 , 20 1 8 • T HE ED G E FINA NCIA L DA ILY
Markets 3 1
FUTURES . MONEY MARKET . COMMODITIES

Index futures Money market

Long Rolls - KLCI futures US Dollar Klibor
FKLI
Index points Open Interest Index points USD Index Implied interest rate (%)
105.0
1980 90000 18.00 0.00 92.519 4.5
1,827.50 (+2.00) (+0.161) 3.55
(-10.50) 96.5
(+0.05)
1785 68000 4.75
3.5

1590 -8.50 88.0

46000

2.5
1395 24000 -21.75 79.5

1200 2000 -35.00 71.0 1.5

Jan 4, 2010 Jan 9, 2018 Jan 4, 2010 Jan 9, 2018 Oct 2, 2006 Jan 9, 2018 Oct 1, 2000 Jan 9, 2018

FBM KLCI futures close FBM KLCI futures BoJ move boosts yen; US Klibor
easier INDEX AND FUTURES
CONTRACT LAST CHANGE VOLUME
OPEN CHANGE IN
INTEREST OPEN INTEREST
dollar continues recovery MONTH SETTLEMENT
PRICE
CHANGE VOLUME OPEN
INTEREST

The FBM KLCI futures contracts on Bursa FBMKLCI 1,826.95 -5.20 182.1M The yen reached a five-day high yesterday, JAN8 96.50 -0.05 — —
FEB8 96.48 -0.05 — —
Malaysia Derivatives closed easier yesterday JAN 18 1,827.50 -10.50 6,176 34,676 22 after the Bank of Japan (BoJ) trimmed its MAR8 96.45 -0.05 — —
FEB 18 1,827.00 -9.00 219 516 45
dampened by the weaker cash market. purchases of long-dated government bonds JUN8 96.40 -0.05 — —
MAR 18 1,825.00 -8.00 85 508 3
January 2018 fell 10.5 points to 1,827.5; JUN 18 1,821.50 -9.50 18 199 24
in market operations, stoking speculation SEP8 96.40 -0.05 — —
February 2018 declined nine points to 1,827; TOTAL the central bank could start to wind down DEC8 96.40 -0.05 — —
6,498 35,899 94
MAR9 96.35 -0.10 — —
March 2018 erased eight points to 1,825; and its huge stimulus policy this year. JUN9 96.35 -0.10 — —
FUTURES ROLL OVER BID OFFER CLOSE
June 2018 lost six points to 1,821.5. JAN/FEB 0.0 -0.5 0.0
Weakness against the yen was the SEP9 96.35 -0.10 — —
Turnover increased to 6,498 lots from exception for the US dollar, which was trading DEC9 96.35 -0.10 — —
Monday’s 6,088 lots, while open interest FUTURES FAIR VALUE at an 11-day high against a basket of six major MAR0 96.35 -0.10 — —
JUN0 96.35 -0.10 — —
widened to 35,899 contracts from 35,442 CONTRACT JAN 18
DAYS TO EXPIRY
22
KLIBOR DIVIDEND FAIR VALUE
3.35 0.00 4.54
currencies, continuing a recovery from four- SEP0 96.35 -0.10 — —
contracts previously. FEB 18 51 7.98 5.36 2.62 month lows plumbed at the start of the year. DEC0 96.35 -0.10 — —
The underlying benchmark FBM KLCI ROLL’S FAIR -1.92 Against the yen, the US dollar lost as MAR1 96.35 -0.10 — —
finished 5.2 points lower at 1,826.95. much as 0.5% to trade at ¥112.50 to the US JUN1 96.35 -0.10 — —
SEP1 96.35 -0.10 — —
Philippine shares jumped the most in dollar, easing back down from a two-week
DEC1 96.35 -0.10 — —
a year yesterday, hitting a record high on high of ¥113.40 touched on Monday. MAR2 96.35 -0.10 — —
foreign buying, while Vietnam climbed for Most economists surveyed in a Reuters JUN2 96.35 -0.10 — —
a second straight session to a fresh 10-year poll in December said the BoJ would start SEP2 96.35 -0.10 — —
high. of 8,923.72, with foreign investors net buying scaling back its stimulus in late 2018 or after. DEC2 96.35 -0.10 — —
TOTAL 0 0
Philippine shares rose 2% up at a record high equities worth 1.42 billion pesos. — Agencies — Reuters

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

CPO & Open Interest CPO vs Soyoil Crude Oil

Gold
US$/troy oz
CPO RM/tonne Open Interest CPO RM/tonne Soyoil US$/Ibs US$/bbl
1980
4200 200000 6400 0.700 155.00

3450 5075 0.3354 0.525 121.25

1660 1,315.40
152500 (-5.00)
(RM2,963/tonne)

2700 87.50 1340

105000 3750 0.350
62.08
(+0.35)
1950 53.75 1020
2,605 57500 2425 0.175
(-20) 2,605
1200 (-20) 700
10000 20.00
1100 0.000
Jan 6, 2008 Jan 9, 2018 Apr 10, 2007 Jan 9, 2018 Aug 31, 2008 Jan 9, 2018
Jan 6, 2008 Jan 9, 2018

Palm oil drops from 7-week top CPO futures Oil prices hit highest since Commodities

ahead of MPOB data release CONTRACT

JAN-18
LAST
2,585
CHANGE
-5
VOLUME
97
OPEN CHANGE IN
INTEREST OPEN INTEREST
1,305 -44
May 2015 AGRICULTURE
CRUDE PALM OIL
UNIT
RM/TON
EXCHANGE
MDEX
LAST PRICE CHANGE
2,605 -20
RUBBER SEN/KG MRB 584.00 10.50
FEB-18 2,602 -23 1,343 13,913 -1,391
Malaysian palm oil futures dropped over Oil prices rose further above US$68 a barrel CORN USC/BSH CBOT 348.25 1.00
MAR-18 2,605 -20 21,829 59,399 -447
SOYBEANS USC/BSH CBOT 959.25 1.00
1% in evening trade yesterday, falling from APR-18 2,594 -18 8,749 46,336 -556 yesterday, touching its highest since May
WHEAT USC/BSH CBOT 427.00 -0.75
a near seven-week high hit earlier, weighed MAY-18 2,582 -17 6,212 53,598 -489 2015, supported by Opec-led production LIVE CATTLE USC/IBS CME 119.30 -1.55
down by expectations of sluggish exports. CPO FUTURES CPO/SOYOIL cuts and expectations US crude inventories COCOA US$/TON NYBOT 1,940 24
The market also declined ahead of official INDICATIVE ROLL-OVER CURRENT FUTURES BASIS (USD) fell for an eighth week. COFFEE USC/IBS NYBOT 126.20 -1.30
JAN/FEB -17 -74.29
data from the Malaysian Palm Oil Board JAN/MAR -20 3 MONTHS AVERAGE -96.51
The Opec and allies including Russia SUGAR USC/IBS NYBOT 14.61 -0.17
(MPOB), which is forecasting stockpiles JAN/APR are keeping supply limits in place in 2018, COTTON USC/IBS NYC 78.85 0.00
-9 6 MONTHS AVERAGE -90.50
rising to their highest in over two years. FEB/MAR -3 a second year of restraint, to reduce a price- METAL & PRECIOUS METALS
TIN US$/TON KLTM 19,890 UNCH
The benchmark palm oil contract for SGS & ITS EXPORT ESTIMATES (TONNES) denting glut of oil held in inventories. COPPER USC/IBS CMX 3.2400 0.0160
March delivery on Bursa Malaysia Derivatives SHIPMENT DAYS OCT’17 NOV’17 DECT’17 Brent crude was up 29 US cents at GOLD US$/TROY OZ CMX 1,315.40 -5.00
fell 1.1% or RM20 to RM2,605 a tonne at 1 - 10TH DAYS 462/448 440/437 339/364 US$68.07 a barrel and earlier touched PLATINUM US$/TROY OZ NYMEX 962.70 -11.80
the close of trade, its sharpest daily drop in 1 - 15TH DAYS 709/690 651/660 581/597
US$68.29, its highest since May 2015. US PALLADIUM US$/TROY OZ NYMEX 1,092.80 5.05
1 - 20TH DAYS 968/951 883/892 865/874
almost three weeks. 1 - 25TH DAYS 1,197/1,178 1,094/1,079 1,108/1,091
crude rose 35 US cents to US$62.08 and also SILVER USC/TROY OZ CMX 16.98 -0.12
Earlier in the session, it had risen to its FULL MONTH reached its highest since May 2015. ALUMINIUM RMB/TON SHF 14,900 -50
1,417/1,407 1,311/1,332 1,439/1,422
ZINC RMB/TON SHF 26,200 -20
highest since Nov 24 at RM2,635 a tonne on MALAYSIAN PALM OIL BOARD “Oil prices remain on an upward
stronger demand expectations and a weaker AUG’17 SEP’17 OCT’17 NOV’17 trajectory,” said an analyst. ”In view of sharply ENERGY
LIGHT CRUDE OIL US$/BBL NYMEX 62.08 0.35
ringgit, palm oil’s currency of trade, which PRODUCTION 1,810 1,780 2,009 1,943 falling US crude oil stocks and record-high HEATING OIL USC/GAL NYMEX 2.0495 0.0145
typically makes the oil cheaper for foreign EXPORT
STOCKS
1,487
1,942
1,515
2,019
1,549
2,190
1,354
2,557
compliance with the production cuts by Opec, NATURAL GAS US$/MMBTU NYMEX 2.836 0.064
buyers and spurs demand. market participants are convinced that the BRENT CRUDE US$/BBL ICE 68.07 0.29
MPOB Palm oil physical
“The market weakened on rumours that market is continuing to tighten.” — Reuters GAS OIL US$/TON ICE 605.50 4.50
exports [from Jan 1 to 10] will come in flat or (IN RM/TON) JAN’18 FEB’18 MAC’18

lower [than the corresponding period last CPO DELD

PK EX-MILL
2,546.50 2,622.00 NO TRADE
NO TRADE 2,640.00 NO TRADE
Centrifuged Latex Rubber - M’sia SMR 20
month],” said a trader from Kuala Lumpur. CPKO DELD 5,208.50 5,142.50 NO TRADE Sen/Kg
Sen/Kg
Cargo surveyors are expected to release RBD P.OIL FOB NO TRADE NO TRADE NO TRADE 1100 1900
Malaysian palm oil shipment data after 0300 RBD P.OLEIN FOB NO TRADE NO TRADE NO TRADE
470.00
GMT today. RBD P. STEARIN FOB NO TRADE NO TRADE NO TRADE 900 (+7.50) 1475 584.00
(+10.50)
Meanwhile, official data for December MPOB FFB REF PRICE (MILL GATE PRICE)
stockpiles, production and exports from REGION GRADE A GRADE B GRADE C 700 1050
OER (RM/TON) OER(RM/TON) OER (RM/TON)
the MPOB is also scheduled for release after NORTH 20.00% 569 19.00% 544 18.00% 520
0430 GMT today. SOUTH 20.00% 572 19.00% 547 18.00% 523
500 625
In other related edible oils, the March CENTRAL 20.00% 566 19.00% 542 18.00% 517
soybean oil contract on the Chicago Board EAST COAST 20.00% 572 19.00% 547 18.00% 523 300 200
SABAH 22.00% 551 21.00% 528 20.00% 506 Jan 7, 2007 Jan 9, 2018 Jan 7, 2007 Jan 9, 2017
of Trade dropped 0.2%. — Reuters SARAWAK 22.00% 557 21.00% 534 20.00% 511
 Markets
32 WEDN ESDAY JAN UARY 1 0 , 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY

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
YOUR DAILY FINANCIAL MARKET S ROUNDUP I N S I D E R M OV E S . T R A D I N G T H E M E S . E V E N T S . FO 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
RESEARCH: TAI TS [tai@bizedge.com 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 5

KLCI 1,826.95 5.20 FBM ACE 7,009.66 11.73 FTSTI 3,524.65 12.47 NIKKEI 23,849.99 135.46 HANG SENG 31,011.41 111.88 DOW JONES 25,283.00 12.87

True strength is delicate. Market movers

— Louise Nevelson
Daily top 20 active stocks
UNUSUAL MARKET ACTIVITIES TURNOVER CHANGE CHANGE PRICE PE DIVIDEND
FBM KLCI & KLCI futures intraday (‘000) (RM) (%) (RM) RATIO YIELD (%)
STOCK VOLUME CHANGE CHANGE CLOSE HIGH LOW UMWOG 425,884.7 -0.030 -6.59 0.425 — 0.00
('000) (%) (RM) (RM) (RM) (RM) SAPNRG 388,284.0 -0.040 -4.10 0.935 — 1.03
Index point
1844.0 BORNOIL 252,284 5.56 0.005 0.095 0.100 0.090 SUMATEC 263,728.6 0.005 8.33 0.065 — 0.00
1841.6 PDZ-OR 141,715 -25.00 -0.005 0.015 0.020 0.010 BORNOIL 252,284.1 0.005 5.56 0.095 17.31 0.00
1839.2 PA-WB 101,133 0.00 0.000 0.075 0.080 0.065 PWORTH 160,809.4 UNCH UNCH 0.310 46.97 0.00
1836.8 AAX 75,718 8.11 0.030 0.400 0.400 0.365 HIBISCS 156,347.9 0.080 8.16 1.060 38.43 0.00
1834.4 PERISAI 72,185 -9.09 -0.005 0.050 0.060 0.045 PDZ-OR 141,714.6 -0.005 -25.00 0.015 — 0.00
KLCI futures APFT 65,265 0.00 0.000 0.030 0.030 0.025 XOX 140,456.4 0.005 4.17 0.125 18.75 0.00
1832.0
1829.6 1,827.50 SUPERMX-C27 64,645 209.09 0.115 0.170 0.190 0.060 PA 123,781.3 UNCH UNCH 0.105 — 0.00
(-10.50) DRBHCOMC37 56,772 13.79 0.040 0.330 0.375 0.275 HUAAN 104,660.5 0.015 2.86 0.540 — 0.00
1827.2 KL Composite Index
UMWOG-WA 45,204 -6.12 -0.015 0.230 0.255 0.220 TRIVE 101,718.3 UNCH UNCH 0.055 110.00 0.00
1824.8 M3TECH 39,876 6.45 0.010 0.165 0.165 0.150 PA-WB 101,132.6 UNCH UNCH 0.075 — 0.00
1822.4 1,826.95 XINGHE-WA 37,311 0.00 0.000 0.010 0.015 0.010 IRIS 86,862.4 0.015 6.82 0.235 — 0.00
1820.0 (-5.20)
SUMATEC-WB 36,414 0.00 0.000 0.025 0.030 0.020 AAX 75,718.1 0.030 8.11 0.400 49.33 0.00
8:45 9:30 10:30 11:30 12:45 14:30 15:30 16:30 17:15
FINTEC-PA 33,218 -5.56 -0.005 0.085 0.090 0.080 DGB 73,912.5 0.010 5.56 0.190 128.57 0.00
DRBHCOMC41 32,500 10.71 0.015 0.155 0.175 0.130 KNM 73,236.2 -0.010 -3.45 0.280 — 0.00
Daily FBM KLCI NEXGRAM 29,828 0.00 0.000 0.040 0.040 0.035 NETX 72,965.2 0.005 11.11 0.050 18.00 0.00
AIRASIA 26,359 4.18 0.150 3.740 3.760 3.600 PERISAI 72,185.1 -0.005 -9.09 0.050 — 0.00
KL Composite Index Moving average - 20-day APFT 65,264.6 UNCH UNCH 0.030 — 0.00
Table above is from Reuters Volume break 3x 5-day average volume, meaning the total number of shares
2030.0 SUPERMX-C27 64,645.2 0.105 161.54 0.170 — 0.00
1,826.95 traded for a particular counter on the previous trading day is more than triple the average volume for the
(-5.20) 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. Top gainers and losers (ranked by RM)
1727.5
UP
1425.0
1,770.46 FBM KLCI takes breather after CLOSE
CHANGE
(RM)
DOWN
CLOSE
CHANGE
(RM)

four straight days of gains SUPERMX

SUPERMX-C30
2.310
0.560
0.230
0.200
KESM
BAT
21.480
36.820
-0.720
-0.700
1122.5 DLADY 60.700 0.200 MPI 12.400 -0.400
GENP-WA 2.990 0.180 NESTLE 103.000 -0.400
KUALA LUMPUR: The FBM KLCI closed 5.2 points or 0.3% TENAGA 15.880 0.180 SCIENTX 8.900 -0.350
820.0 yesterday lower due to profit-taking after gaining for four UCHITEC 3.330 0.170 NSOP 3.700 -0.250
Jan 2, 2008 Jan 9, 2018 consecutive trading days. FBMKLCI-C3H 0.605 0.150 HENGYUAN 17.060 -0.220
At 5pm yesterday, the FBM KLCI closed at 1,826.95 points. MMCCORP 2.200 0.150 AMBANK 4.480 -0.200
900
The index erased gains after rising to its intraday high at AIRASIA 3.740 0.150 AYER 6.500 -0.200
SBAGAN 3.120 0.120 PETGAS 19.000 -0.200
1,840.35 points.
600 MBWORLD 2.200 0.120 PETRONM 13.280 -0.180
“It isn’t a massive selldown. I consider this to be light ENRA 2.960 0.120 TOPGLOV 8.990 -0.170
300 profit-taking. I think the market will come back,” Inter-
Pacific Securities Sdn Bhd research head Pong Teng Siew Top gainers and losers (ranked by percentage)
0
told theedgemarkets.com.

 
Volume (’mil) UP
Over the past week, the FBM KLCI closed higher at CHANGE DOWN CHANGE
CLOSE (%) CLOSE (%)
1,782.70 points on Jan 2 before climbing to 1,832.15 points
FBM KLCI futures on Monday. SUPERMX-C28 0.070 366.67 HSI-H2R 0.035 -56.25

CONTRACT SETTLEMENT CHANGE HIGH LOW

Yesterday, Bursa Malaysia saw 6.48 billion shares worth SUPERMX-C27 0.170 209.09 GENM-C27 0.025 -37.50
MMCCORP-C7 0.015 200.00 SP500-HB 0.180 -35.71
JAN 18 1,827.50 -10.50 1,845.50 1,826.00 RM4.41 billion traded. Notable decliners included AMMB SAPNRGC48 0.015 200.00 SCBUILD-WB 0.010 -33.33
FEB 18 1,827.00 -9.00 1,842.50 1,826.00 Holdings Bhd after the stock fell 20 sen to RM4.48 to become SAPNRGC49 0.015 200.00 APFT-WA 0.010 -33.33
MAR 18 1,825.00 -8.00 1,839.00 1,823.00
the ninth-largest decliner. SUPERMX-C29 0.140 115.38 SAPNRGC51 0.010 -33.33
The leading gainer was Supermax Corp Bhd after the MAGNUM-C2 0.040 100.00 LCTITAN-CE 0.020 -33.33
FBM KLCI sensitivity* stock rose 23 sen to RM2.31. Supermax shares rose after Affin MMCCORP-C6 0.045 80.00 MRCB-C18 0.025 -28.57

KLCI CHANGE CLOSE VOLUME Hwang Investment Bank Bhd upgraded its call on Supermax SUPERMX-C33 0.240 77.78 SAPNRGC52 0.025 -28.57
POINTS (RM) (RM) ('000) MMCCORP-C8 0.220 76.00 MHB-C3 0.030 -25.00
TENAGA NASIONAL BERHAD 1.66 0.180 15.880 19750.0
shares to “buy” from “hold”. SUPERMX-C30 0.560 64.71 PDZ-OR 0.015 -25.00
MISC 0.44 0.060 7.550 1375.8 Affin Hwang analyst Ng Chi Hoong wrote in a note SUPERMX-C32 0.235 62.07 ZELAN-WA 0.035 -22.22
YTL CORPORATION 0.36 0.020 1.440 8035.0 yesterday Affin Hwang also raised its Supermax target price
IOI CORPORATION 0.31 0.030 4.670 4294.3 to RM3.10 from RM2.10. Top gainers and losers - warrants (ranked by percentage)
KLCC PROPERTY REIT 0.00 0.000 7.800 281.5 Across Asia, MSCI’s Asia ex-Japan Stock Index was weaker
DIGI.COM -0.25 -0.020 4.850 5807.1 UP CHANGE DOWN CHANGE
MAXIS -0.25 -0.020 6.030 2941.5
by 0.11%. Hong Kong’s Hang Seng Index gained 0.36%, while CLOSE (%) CLOSE (%)
MAYBANK -0.35 -0.020 9.830 14592.6 South Korea’s Kospi decreased 0.12%. — by Wong Ee Lin SUPERMX-C28 0.070 366.67 HSI-H2R 0.035 -56.25
TELEKOM MALAYSIA -0.49 -0.080 6.100 1474.9
World equity indices SUPERMX-C27 0.170 209.09 GENM-C27 0.025 -37.50
RHB BANK -0.59 -0.090 5.100 1394.5 MMCCORP-C7 0.015 200.00 SP500-HB 0.180 -35.71
PETRONAS GAS -0.65 -0.200 19.000 576.0 CLOSE CHANGE CLOSE CHANGE SAPNRGC48 0.015 200.00 SCBUILD-WB 0.010 -33.33
AXIATA GROUP -0.74 -0.050 5.630 7828.7
DOW JONES 25,283.00 -12.87 INDONESIA 6,373.14 -12.26 SAPNRGC49 0.015 200.00 APFT-WA 0.010 -33.33
GENTING -0.88 -0.140 9.360 4287.2
S&P 500 2,747.71 4.56 JAPAN 23,849.99 135.46 SUPERMX-C29 0.140 115.38 SAPNRGC51 0.010 -33.33
AMMB HOLDINGS -0.98 -0.200 4.480 5026.6
NASDAQ 100 6,676.63 23.34 KOREA 2,510.23 -3.05 MAGNUM-C2 0.040 100.00 LCTITAN-CE 0.020 -33.33
CIMB GROUP -1.05 -0.070 6.750 19027.6
FTSE 100 7,696.51 -27.71 PHILIPPINES 8,923.72 178.60 MMCCORP-C6 0.045 80.00 MRCB-C18 0.025 -28.57
SIME DARBY -1.11 -0.100 2.690 35931.8
AUSTRALIA 6,135.81 5.43 SINGAPORE 3,524.65 12.47 SUPERMX-C33 0.240 77.78 SAPNRGC52 0.025 -28.57
SUB-TOTAL -4.58
CHINA 3,413.90 4.42 TAIWAN 10,914.89 -0.86 MMCCORP-C8 0.220 76.00 MHB-C3 0.030 -25.00
OTHERS -0.62
HONG KONG 31,011.41 111.88 THAILAND 1,795.21 2.40 SUPERMX-C30 0.560 64.71 PDZ-OR 0.015 -25.00
GRAND TOTAL -5.20
INDIA 34,443.19 90.40 VIETNAM 1,033.56 10.66 SUPERMX-C32 0.235 62.07 ZELAN-WA 0.035 -22.22
* How stock price changes affected the index on the previous trading day

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