Market Insight Friday, 23 September, 2016

16795/03/2013(031743)

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Major Highlights

 

Ringgit rallies as US hold interest rates Bank Negara reserves up 0.2% to US$97.7bn as at Sept 15 Govt approves RM28.2bn of FDIs in 1H16 US jobless claims drop to two-month low as labor market firms US existing home sales unexpectedly fall in August Gas refiners in Asia-Pacific unsuccessful in reducing imports

KLCI Performance

Bursa Malaysia Bursa Malaysia FBMKLCI FBMEMAS FBM100 FBMEMAS Shariah FBM Hijrah Shariah Volume (mn) Value (RMmn) FBMKLCI YTD Chg

Close 1,669.66 11,798.64 11,499.63 12,450.42 13,887.61 2,114.68 2,233.71

Change +/10.93 84.19 82.53 106.63 128.03 409.05 351.77

Change % 0.66 0.72 0.72 0.86 0.93 23.98 18.69 -1.35

1900 1850 1800 1750 1700 1650 1600 1550 Jul-16

Aug-16

Jun-16

Apr-16

May-16

Mar-16

Jan-16

Feb-16

Dec-15

Oct-15

Nov-15

Sep-15

Jul-15

Change % 15.00 -4.57 -5.74

Aug-15

Gainers Losers Unchanged

Change +/69 -15 -22

Jun-15

Close 529 313 361

Apr-15

1500

Scoreboard

KLCI Year-End Target: 1,729 points Sector Indices

Regional Indices

DJIA NASDAQ S&P 500 FTSE 100 Nikkei 225 HSI SHCOMP KOSPI TWSE STI JCI SET PSEi

   

May-15



Chin Hin subsidiary acquires 2 firms for RM18m BLand to buy land from BCity for RM155m Daya Materials gets RM224m construction contract Carimin Petroleum seeks to diversify into construction Malaysia Airlines finalizes US$630mil CFM Leap-1B engine order DRB-Hicom sells The Verge at 40% below earlier estimated price

Mar-15

    

Local & Global Economic News

Close 18,392.46 5,339.52 2,177.18 6,911.40 Closed 23,759.80 3,042.31 2,049.70 9,235.26 2,846.06 5,380.26 1,505.99 7,762.35

Change +/98.76 44.34 14.06 76.63 89.90 16.44 13.71 6.76 -4.68 37.67 18.82 86.93

Change % 0.54 0.84 0.65 1.12 0.38 0.54 0.67 0.07 -0.16 0.71 1.27 1.13

YTD Change 5.55 (%) 6.63 6.52 10.72 8.42 -14.04 4.51 10.76 -1.27 17.14 16.92 11.66

Market Valuation (PER) FBMKLCI SHCOMP HSI JCI SET STI PSEi The Research Team [email protected] 03-2613 1738

www.bimbsec.com.my

FY16 17.09 14.28 13.00 17.72 15.88 13.61 19.71

FY17 15.93 12.63 11.86 15.06 14.16 13.02 17.99

5Y Average 16.63 11.27 11.11 15.21 13.83 13.84 17.57

Industrial Consumer Industrial Products Construction Finance Property Plantation Technology

Close 3,134.00 602.91 144.15 288.98 14,305.73 1,210.70 7,943.14 22.72

Change +/30.40 2.96 1.08 1.54 83.78 12.11 67.55 0.12

Change % 0.98 0.49 0.75 0.54 0.59 1.01 0.86 0.53

KLCI Futures Contracts High Low Last Volume

Sep-16 1,678.00 1,657.50 1,674.50 10,279.00

Oct-16 1,677.00 1,658.00 1,673.50 1,157.00

Commodities (Most Recent Close) Close Brent Crude (USD/bbl) 47.65 WTI Crude (USD/bbl) 46.32 Gold (USD/ounce) 1,337.08 CPO (RM/MT) 2,725.00 SMR 20 (sen/kg) 595.00 Latex (sen/kg) 467.50 Soybean Oil 34.21

Change +/0.82 -0.38 -0.11 48.00 15.50 3.50 0.55

(+/- %) % 1.75 -0.82 -0.01 1.79 2.67 0.75 1.63

Change +/-0.0295 0.4400 -0.0015 0.0028

Change % -0.71 0.44 -0.17 0.21

Forex (per USD1) MYR JPY EUR SGD

Close 4.1095 100.7600 0.8922 1.3562

BIMB Securities| 1

Market Insight Major Rates KLIBOR 3-mth KLIBOR 6-mth KLIBOR 12-mth 5-yr MGS 10-yr MGS

Daily Participation 3.40% 3.53% 3.63% 3.23% 3.54%

Active Stock Sc Estate Builder Sanichi Technology Borneo Oil Uem Sunrise Malaysia Building Society

Close 0.05 0.09 0.19 1.19 0.92

Change+/0.01 0.00 0.01 0.09 0.05

(+/- %) 12.50 0.00 5.71 8.18 5.78

Close 50.00 1.80 7.79 5.04 5.72

Change+/1.20 0.20 0.19 0.18 0.16

(+/- %) 2.46 12.50 2.50 3.70 2.88

Close 58.80 4.70 35.24 4.57 6.37

Change+/-0.80 -0.30 -0.26 -0.13 -0.12

(+/- %) -1.34 -6.00 -0.73 -2.77 -1.85

Participation (%)

Bought (RMm)

Sold (RMm)

Net (RMm)

Local Inst

60.8

1,257.7

1,458.1

-200.4

Local Retail

17.0

377.0

380.3

-3.3

Foreign

22.2

599.0

395.3

203.7

Total

100.0

2,233.7

2,233.7

0.0

Top Gainers British American Tobacco Bhd Concrete Engineering Prods Kesm Industries Digi.Com DKSH Holdings Top Losers Dutch Lady Atlan Holdings Panasonic Genting Malaysia Ihh Healthcare

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Market Insight LOCAL CORPORATE NEWS Chin Hin subsidiary acquires 2 firms for RM18m Chin Hin subsidiary, PP Chin Hin SB, is acquiring Midah Industries SB and Epic Diversity SB for RM18.3m. Midah Industries manufactures quality fire doors while Epic Diversity produces smart locking solutions for doors. We believe the acquisition will provide us a minimum pre-tax profit guarantee of RM6m for the FY17 and FY18. To date, Midah and Epic have a combined book order of RM30m while the group’s book order stood at RM200m. (Source: Bernama) BLand to buy land from BCity for RM155m Berjaya Land (BLand) is proposing to acquire 871.01 acres in Ulu Selangor from BerjayaCity SB (BCity) in a related party transaction worth RM155m. The proposed acquisition provides an opportunity for the BLand group to increase its land bank. Its 100%-owned subsidiary, Alam Baiduri SB, had entered into a sale and purchase agreement with BCity, a 100%owned subsidiary of Berjaya Corp, for the acquisition of the freehold plots of land at RM177,954 per acre. The proposed acquisition will not have any material effect on the consolidated earnings of BLand for the current FY17. (Source: StarBiz) Daya Materials gets RM224m construction contract Daya Materials has secured a RM224m contract to build retail facilities in Batu Kawan, Penang, for Aspen Vision City SB. The job given to its engineering and construction unit would span 17 months. Aspen Vision City SB is a JV between Aspen Group st and Ikano Group. The 1 phase of the RM8bn Aspen Vision City, to be completed by 2019, comprises the Vervea, which is a 3 to 4-storey shop office project, the Columbia Asia Hospital, Ikea Store and Vertu Resort. (Source: StarBiz) Carimin Petroleum seeks to diversify into construction Carimin Petroleum has proposed to diversify into construction to reduce the dependency on its existing principal business in the oil and gas industry. Its construction business was expected to provide a new source of revenue. This follows the completion of its RM838,000 acquisition of 60% interest in Noblecorp Builders SB (now Carimin Bina SB/CBSB) last month. (Source: StarBiz) Malaysia Airlines finalizes US$630mil CFM Leap-1B engine order MAB has finalized a US$630m (RM2.59bn) order for Leap-1B engines with CFM International to power 25 Boeing 737 MAX aircraft. CFM International, the world’s leading supplier of commercial aircraft engines, is a 50:50 JV company between General Electric (GE) and Safran Aircraft Engines. The engine order was scheduled for delivery beginning 2020. An agreement to seal the deal between MAB and CFM International was signed on Thursday witnessed by Prime Minister Datuk Seri Najib Tun Razak. (Source: Bernama) DRB-Hicom sells The Verge at 40% below earlier estimated price DRB-Hicom indirect unit Hicom Megah SB has managed to secure a buyer for its The Verge commercial development in Singapore, but the price tag is 40% lower than the price indicated under an earlier, aborted sale agreement. Hicom Megah and the minority shareholders of Corwin Holding Pte Ltd, which owns the 8-level shopping mall plus an adjacent 8-storey building known collectively as The Verge, had inked a conditional share sale agreement to dispose their 100% equity interest as well as 866,840 redeemable preference shares in Corwin to Singapore firm Columba Holdings Pte Ltd (CHPL). (Source: The Edge)

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Market Insight LOCAL AND GLOBAL ECONOMIC NEWS Ringgit rallies as US hold interest rates The ringgit rebounded as much as 1.07% to 4.0975 against the USD yesterday following the US Fed decision to keep interest rates unchanged. The ringgit appreciated 0.79% to 4.1090 to the greenback. Notwithstanding the firmer probability of an increase in December, a less hawkish stance in 2017 is expected to cause some short-term weakness in the US dollar. However, it noted that the continued easy monetary policies of other major central banks amid still high downside risks (Brexit, economic rebalancing in China, commodity prices) would still make the US dollar attractive from the growth/rate differential angle. (Source: The Sun) Bank Negara reserves up 0.2% to US$97.7bn as at Sept 15 The international reserves of Bank Negara Malaysia rose 0.2% to US$97.7bn RM392.5bn as at Sept 15, 2016, compared to US$97.5bn RM391.9bn as at Aug 30. The reserves position is sufficient to finance 8.1 months of retained imports, and is 1.2 times the short-term external debt. The main components of the international reserves were foreign currency reserves US$89.7bn, International Monetary Fund reserves position US$800m), special drawing rights (SDRs; US$1.1bn), gold US$1.5bn, and other reserve assets (US$4.6bn). (Source: The Edge) Govt approves RM28.2bn of FDIs in 1H16 Approved foreign direct investments (FDIs) totaled RM28.2bn in the 1H16, which was nearly four-fifths of the total FDIs approved for 2015. It remains on a steady economic growth path and continues to attract FDIs. The approved direct investments in the services, manufacturing and primary sectors in 1H16, totaled RM88.4bn compared with RM125.9bn in the same period last year. (Source: StarBiz) US jobless claims drop to two-month low as labor market firms The number of Americans filing for unemployment benefits unexpectedly fell last week to a 2-month low, pointing to labor market strength that could pave the way for the Fed to raise interest rates by December. Initial claims for state unemployment benefits declined 8,000 to a seasonally adjusted 252,000 for the week ended Sept 17, the lowest level since st mid-July. Claims for the prior week were unrevised. It was the 81 consecutive week that claims remained below the 300,000 threshold, which is associated with robust labor market conditions. (Source: StarBiz) US existing home sales unexpectedly fall in August US home resales unexpectedly fell in August, crimped by a shortage of inventory that is boosting home prices faster than the pace of wage growth. Existing home sales declined 0.9% to an annual rate of 5.33m units. Economists polled by Reuters had forecast sales rising 1.1% in August to a 5.45m-unit pace. July's sales pace was also revised lower to 5.38m units from the previously reported 5.39m units. However, despite sales being at their second-lowest pace of the year, home resales were still up 0.8% from one year ago. (Source: StarBiz) Gas refiners in Asia-Pacific unsuccessful in reducing imports Despite implementing massive capacity additions, Asia-Pacific’s oil and gas refiners have been largely unsuccessful in reducing imports and, ultimately, offsetting demand growth. Over the next few years, global refiners would have to cope with several long-term challenges. These include a global supply of crude that is becoming more difficult to refine, new refineries coming online that could boost capacity beyond demand for refined products, and more stringent regulations that will force developing markets to catch up with their developed counterparts. (Source: StarBiz)

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Market Insight ECONOMIC CALENDAR Date Time

Country

09/23/2016 02:41 09/23/2016 04:16 09/23/2016 04:16 09/23/2016 04:36 09/23/2016 04:36 09/23/2016 08:30 09/23/2016 12:30 09/23/2016 12:30 09/23/2016 12:30 09/23/2016 13:00 09/23/2016 13:00 09/23/2016 13:00 09/23/2016 14:30 09/23/2016 14:45 09/23/2016 14:45 09/23/2016 15:00 09/23/2016 15:00 09/23/2016 15:00 09/23/2016 15:00 09/23/2016 15:00 09/23/2016 15:00 09/23/2016 15:00

GU AR AR CO CO JN NE NE JN SI SI SI HU FR FR FR FR FR SP SP AS AS

09/23/2016 15:30 09/23/2016 15:30 09/23/2016 15:30 09/23/2016 15:30

GE TH TH GE

09/23/2016 15:30 09/23/2016 16:00 09/23/2016 16:00

GE PD RU

09/23/2016 16:00 09/23/2016 16:00 09/23/2016 16:00 09/23/2016 16:20 09/23/2016 16:20 09/23/2016 17:00 09/23/2016 19:00 09/23/2016 20:00 09/23/2016 20:30 09/23/2016 20:30 09/23/2016 20:30 09/23/2016 20:30 09/23/2016 20:30 09/23/2016 20:30 09/23/2016 20:30 09/23/2016 20:30 09/23/2016 20:30 09/23/2016 21:00 09/23/2016 21:00 09/23/2016 21:00 09/23/2016 21:45 09/23/2016

EC EC EC TA TA HR BZ CL CA CA CA CA CA CA CA CA CA BE MX MX US RO

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Event M2 Money Supply YoY GDP YoY GDP QoQ Retail Confidence Industrial Confidence Nikkei Japan PMI Mfg GDP Constant Price NSA YoY GDP QoQ All Industry Activity Index MoM CPI YoY CPI NSA MoM CPI Core YoY Current Account NSA GDP QoQ GDP YoY Markit France Manufacturing PMI Markit France Services PMI Markit France Composite PMI PPI MoM PPI YoY Industrial Production SA MoM Industrial Prod. WDA YoY Markit/BME Germany Manufacturing PMI Foreign Reserves Forward Contracts Markit Germany Services PMI Markit/BME Germany Composite PMI Unemployment Rate Money Supply Narrow Def Markit Eurozone Manufacturing PMI Markit Eurozone Services PMI Markit Eurozone Composite PMI Money Supply M1B Daily Avg YoY Money Supply M2 Daily Avg YoY Unemployment Rate FGV CPI IPC-S PPI MoM Retail Sales MoM Retail Sales Ex Auto MoM CPI NSA MoM CPI YoY Consumer Price Index CPI Core MoM CPI Core YoY CPI SA MoM CPI Core SA MoM Business Confidence Retail Sales MoM Retail Sales YoY Markit US Manufacturing PMI Money Supply M3 YoY

Survey

Actual

Prior

Revised

Aug 2Q 2Q Aug Aug Sep P 2Q F 2Q F Jul Aug Aug Aug 2Q 2Q F 2Q F Sep P Sep P Sep P Aug Aug Jul Jul

--2.50% ----2.30% 0.60% 0.20% -0.40% 0.40% 1.10% -0.00% 1.40% 48.5 52 51.8 -----

7.30% -3.40% -2.10% 30.1 7.9 ------------------

7.20% 0.50% -0.70% 24.2 5.5 49.5 2.30% 0.60% 1.00% -0.70% -0.30% 1.00% 1740 0.00% 1.40% 48.3 52.3 51.9 0.00% -4.60% 0.10% 0.90%

-0.40% -0.50% --------------------

Sep P 16-Sep 16-Sep Sep P

53.1 --52.1

-----

53.6 $180.7b $19.8b 51.7

-----

Sep P Aug 16-Sep

53.6 8.50% --

----

53.3 8.60% 8.65t

----

Sep P Sep P Sep P Aug Aug Aug 22-Sep Aug Jul Jul Aug Aug Aug Aug Aug Aug Aug Sep Jul Jul Sep P Aug

51.5 52.8 52.8 ---0.24% -0.10% 0.50% 0.10% 1.40% 129 0.20% 2.00% 0.20% 0.20% -2.4 0.40% 7.80% 52 --

-51.7 --52.8 --52.9 --6.24% --4.70% --13.30% --0.27% --1.50% ---0.10% ---0.80% ---0.20% --1.30% --128.9 --0.00% --2.10% --0.00% --0.10% ---3.1 --1.00% --9.40% --52 --13.10% -Source: Bloomberg, BIMB Securities

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Market Insight PIVOT POINT ANALYSIS Stocks

Closing Price

S3

S2

S1

Pivot Point

R1

R2

R3

Est. Weighting.

FBMKLCI Index FBM Hijrah Shariah

1669.66 13887.61

1655.97 13730.82

1658.59 13756.95

1665.10 13835.35

1667.72 13861.48

1674.23 13939.88

1676.85 13966.01

1683.36 14044.41

n.a. n.a.

APM Automotive Delloyd Ventures MBM Resources Tan Chong UMW

3.380 n.a. 2.450 1.830 5.780

3.350 n.a. 2.405 1.815 5.630

3.365 n.a. 2.413 1.823 5.690

3.370 n.a. 2.435 1.825 5.730

3.385 n.a. 2.443 1.833 5.790

3.390 n.a. 2.465 1.835 5.830

3.405 n.a. 2.473 1.843 5.890

3.410 n.a. 2.495 1.845 5.930

0.223% 0.000% 0.32% 0.402% 2.274%

Building Materials Ann Joo Resource Alum Co of Malay Choo Bee Metal CSC Steel

1.930 0.970 2.050 1.960

1.870 0.903 1.945 1.900

1.890 0.916 1.998 1.930

1.910 0.948 2.015 1.940

1.930 0.961 2.068 1.970

1.950 0.993 2.085 1.980

1.970 1.006 2.138 2.010

1.990 1.038 2.155 2.020

0.325% 0.044% 0.075% 0.243%

Eksons Corp Engtex Group Goh Ban Huat Hiap Teck Jaks Resources Java Kim Hin Ind Kinsteel Lafarge M Cement Lion Corp Lion Industries Malaysia Smelting Masteel Melewar Ind MTD ACPI Pantech Perwaja Press Metal Southern Steel Tasek Tong Herr

0.990 1.310 1.400 0.300 1.010 0.055 1.680 0.050 8.180 0.030 0.405 3.330 0.820 0.560 0.305 0.545 0.095 4.210 1.150 14.800 2.040

n.a. 1.265 1.400 0.285 0.995 0.055 n.a. 0.043 7.805 0.015 0.375 3.270 0.805 0.500 0.260 0.530 0.088 4.165 1.120 14.770 n.a.

n.a. 1.278 1.400 0.293 1.003 0.055 n.a. 0.046 7.868 0.020 0.383 3.300 0.810 0.530 0.273 0.533 0.091 4.183 1.130 14.785 n.a.

n.a. 1.295 1.400 0.295 1.005 0.055 n.a. 0.048 8.055 0.025 0.395 3.310 0.815 0.540 0.290 0.540 0.093 4.195 1.140 14.790 n.a.

n.a. 1.308 1.400 0.303 1.013 0.055 n.a. 0.051 8.118 0.030 0.403 3.340 0.820 0.570 0.303 0.543 0.096 4.213 1.150 14.805 n.a.

n.a. 1.325 1.400 0.305 1.015 0.055 n.a. 0.053 8.305 0.035 0.415 3.350 0.825 0.580 0.320 0.550 0.098 4.225 1.160 14.810 n.a.

n.a. 1.338 1.400 0.313 1.023 0.055 n.a. 0.056 8.368 0.040 0.423 3.380 0.830 0.610 0.333 0.553 0.101 4.243 1.170 14.825 n.a.

n.a. 1.355 1.400 0.315 1.025 0.055 n.a. 0.058 8.555 0.045 0.435 3.390 0.835 0.620 0.350 0.560 0.103 4.255 1.180 14.830 n.a.

0.054% 0.135% 0.088% 0.130% 0.149% 0.003% 0.079% 0.018% 2.341% 0.013% 0.094% 0.112% 0.067% 0.043% 0.024% 0.113% 0.018% 1.861% 0.162% 0.604% 0.086%

Conglomerates Cahya Mata Sarawak Lion Diversified Hap Seng Cons MMC Sime Darby YTL Corp

3.900 0.050 7.670 2.360 7.890 1.820

3.765 0.043 7.550 2.195 7.635 1.760

3.823 0.046 7.585 2.223 7.698 1.770

3.855 0.048 7.630 2.305 7.805 1.800

3.913 0.051 7.665 2.333 7.868 1.810

3.945 0.053 7.710 2.415 7.975 1.840

4.003 0.056 7.745 2.443 8.038 1.850

4.035 0.058 7.790 2.525 8.145 1.880

1.411% 0.023% 6.431% 2.42% 16.812% 6.431%

Construction AZRB Ekovest Fajar Baru Favelle Favco Gamuda Hock Seng Lee IJM Corp Kimlun KKB Engineer MRCB

0.635 1.920 0.515 2.360 4.870 1.750 3.390 2.140 1.430 1.390

0.613 1.740 0.500 2.345 4.810 1.720 3.315 2.050 1.385 1.285

0.621 1.830 0.503 2.348 4.830 1.735 3.328 2.075 1.403 1.308

0.628 1.860 0.510 2.355 4.850 1.740 3.365 2.110 1.415 1.355

0.636 1.950 0.513 2.358 4.870 1.755 3.378 2.135 1.433 1.378

0.643 1.980 0.520 2.365 4.890 1.760 3.415 2.170 1.445 1.425

0.651 2.070 0.523 2.368 4.910 1.775 3.428 2.195 1.463 1.448

0.658 2.100 0.530 2.375 4.930 1.780 3.465 2.230 1.475 1.495

0.103% 0.553% 0.063% 0.176% 3.971% 0.324% 4.112% 0.224% 0.124% 0.974%

Autos

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Market Insight Closing Price

S3

S2

S1

Pivot Point

R1

R2

R3

Mudajaya Muhibbah Naim Hold Sunway Hldgs TRC Synergy TSR Capital Bhd Zelan

1.050 2.330 1.710 3.160 0.415 0.450 0.180

1.035 2.300 1.665 3.070 0.408 0.443 0.150

1.038 2.310 1.683 3.085 0.411 0.444 0.160

1.045 2.320 1.695 3.130 0.413 0.448 0.170

1.048 2.330 1.713 3.145 0.416 0.449 0.180

1.055 2.340 1.725 3.190 0.418 0.453 0.190

1.058 2.350 1.743 3.205 0.421 0.454 0.200

1.065 2.360 1.755 3.250 0.423 0.458 0.210

0.19% 0.38% 0.14% 2.165% 0.067% 0.026% 0.051%

Consumer/Retail Aeon Co (M) Ajinomoto Apollo Food Bonia CI Holdings Cocoaland Dutch Lady Guan Chong Hai-O Ent Hovid Hup seng Inds K-Star Sports Multi Sports Padini Parkson Holdings Pelikan International Poh Kong QL Resources Silver Bird Three-A Resource Xingquan Int’l Yee Lee Corp Zhulian

2.900 13.280 5.840 0.625 2.700 1.960 58.800 0.945 3.400 0.375 1.240 0.095 n.a. 2.860 0.785 0.745 0.495 4.410 n.a. 1.350 0.090 2.270 1.360

2.750 13.100 5.825 0.505 n.a. 1.930 57.390 0.893 3.235 0.360 1.240 0.080 n.a. 2.770 0.763 0.723 0.488 4.335 n.a. 1.320 0.083 2.255 1.300

2.775 13.180 5.833 0.538 n.a. 1.935 58.075 0.904 3.273 0.365 1.240 0.083 n.a. 2.815 0.769 0.731 0.489 4.348 n.a. 1.325 0.086 2.258 1.325

2.850 13.220 5.835 0.585 n.a. 1.950 58.330 0.928 3.345 0.370 1.240 0.090 n.a. 2.830 0.778 0.738 0.493 4.385 n.a. 1.340 0.088 2.265 1.340

2.875 13.300 5.843 0.618 n.a. 1.955 59.015 0.939 3.383 0.375 1.240 0.093 n.a. 2.875 0.784 0.746 0.494 4.398 n.a. 1.345 0.091 2.268 1.365

2.950 13.340 5.845 0.665 n.a. 1.970 59.270 0.963 3.455 0.380 1.240 0.100 n.a. 2.890 0.793 0.753 0.498 4.435 n.a. 1.360 0.093 2.275 1.380

2.975 13.420 5.853 0.698 n.a. 1.975 59.955 0.974 3.493 0.385 1.240 0.103 n.a. 2.935 0.799 0.761 0.499 4.448 n.a. 1.365 0.096 2.278 1.405

3.050 13.460 5.855 0.745 n.a. 1.990 60.210 0.998 3.565 0.390 1.240 0.110 n.a. 2.950 0.808 0.768 0.503 4.485 n.a. 1.380 0.098 2.285 1.420

1.371% 0.272% 0.157% 0.170% 0.147% 0.151% 1.267% 0.152% 0.221% 0.103% 0.334% 0.009% 0.000% 0.634% 0.286% 0.138% 0.068% 1.854% 0.000% 0.179% 0.018% 0.144% 0.211%

n.a. n.a. 1.100

n.a. n.a. 1.070

n.a. n.a. 1.080

n.a. n.a. 1.090

n.a. n.a. 1.100

n.a. n.a. 1.110

n.a. n.a. 1.120

n.a. n.a. 1.130

0.000% 0.000% 0.267%

3.990 4.150

3.900 4.105

3.925 4.113

3.960 4.135

3.985 4.143

4.020 4.165

4.045 4.173

4.080 4.195

2.135% 1.147%

4.000 2.000 4.250 n.a.

4.000 1.970 4.190 n.a.

4.000 1.985 4.205 n.a.

4.000 1.990 4.230 n.a.

4.000 2.005 4.245 n.a.

4.000 2.010 4.270 n.a.

4.000 2.025 4.285 n.a.

4.000 2.030 4.310 n.a.

0.158% 0.188% 1.497% 0.000%

2.010 1.800 2.240 0.935 2.420 0.830 0.850 9.020

1.980 1.770 2.180 0.898 2.345 0.815 0.820 8.615

1.995 1.775 2.190 0.906 2.378 0.818 0.825 8.713

2.000 1.790 2.220 0.923 2.395 0.825 0.840 8.885

2.015 1.795 2.230 0.931 2.428 0.828 0.845 8.983

2.020 1.810 2.260 0.948 2.445 0.835 0.860 9.155

2.035 1.815 2.270 0.956 2.478 0.838 0.865 9.253

2.040 1.830 2.300 0.973 2.495 0.845 0.880 9.425

0.355% 0.182% 0.205% 0.267% 0.306% 0.074% 0.079% 0.970%

Stocks

Est. Weighting

Education HELP Int’l Masterskill SEG Int’l Finance BIMB Hold. Syarikat Takaful Healthcare Apex Healthcare CCM Duopharma KPJ Healthcare Faber Group Manufacturing CBIP Chin Well Daibochi Plastic Evergreen Fibre George Kent Guh Holdings Hil Industries Hong Leong Ind

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Market Insight Closing Price

S3

S2

S1

Pivot Point

R1

R2

R3

KYM Hldgs Bhd MWE Hold Muda Hold NTPM Hold. Nylex Malaysia Perstima Scientex Sino Hua-an SLP Resources Wellcall

0.320 1.280 1.810 0.855 0.655 6.100 6.160 0.030 2.400 1.990

n.a. 1.250 n.a. 0.840 0.618 6.100 6.085 0.030 2.265 1.960

n.a. 1.255 n.a. 0.843 0.634 6.100 6.103 0.030 2.288 1.970

n.a. 1.270 n.a. 0.850 0.643 6.100 6.135 0.030 2.355 1.980

n.a. 1.275 n.a. 0.853 0.659 6.100 6.153 0.030 2.378 1.990

n.a. 1.290 n.a. 0.860 0.668 6.100 6.185 0.030 2.445 2.000

n.a. 1.295 n.a. 0.863 0.684 6.100 6.203 0.030 2.468 2.010

n.a. 1.310 n.a. 0.870 0.693 6.100 6.235 0.030 2.535 2.020

0.016% 0.099% 0.186% 0.323% 0.042% 0.204% 0.956% 0.011% 0.200% 0.222%

Media Media Chinese Star Publication Utusan Melayu

0.710 2.550 0.460

0.703 2.505 n.a.

0.704 2.513 n.a.

0.708 2.535 n.a.

0.709 2.543 n.a.

0.713 2.565 n.a.

0.714 2.573 n.a.

0.718 2.595 n.a.

0.403% 0.634% 0.017%

Oil & Gas Alam Maritim Daya Materials Dayang Ent. Deleum Dialog group ESSO Malaysia KNM Group MMHE Perisai Petroleum Petra Energy Pet Chem

0.260 0.065 0.995 1.060 1.530 4.030 0.415 1.030 0.115 0.960 6.740

0.245 0.058 0.950 1.045 1.515 3.955 0.393 1.000 0.100 0.960 6.575

0.253 0.061 0.965 1.053 1.523 3.988 0.401 1.005 0.108 0.960 6.628

0.255 0.063 0.980 1.055 1.525 4.005 0.408 1.020 0.110 0.960 6.685

0.263 0.066 0.995 1.063 1.533 4.038 0.416 1.025 0.118 0.960 6.738

0.265 0.068 1.010 1.065 1.535 4.055 0.423 1.040 0.120 0.960 6.795

0.273 0.071 1.025 1.073 1.543 4.088 0.431 1.045 0.128 0.960 6.848

0.275 0.073 1.040 1.075 1.545 4.105 0.438 1.060 0.130 0.960 6.905

0.081% 0.041% 0.294% 0.143% 2.726% 0.366% 0.298% 0.555% 0.048% 0.104% 18.159%

Pet Dag Pet Gas Ramunia Hold SAAG Cons. Sapurakencana Scomi Eng Scomi Group Shell Refining Tanjung Offshore Wah Seong Petra Perdana

23.340 21.700 0.185 n.a. 1.560 0.150 0.130 3.040 0.310 0.870 n.a.

22.800 21.460 0.163 n.a. 1.515 0.150 0.115 2.965 0.265 0.855 n.a.

23.070 21.530 0.171 n.a. 1.533 0.150 0.120 2.998 0.288 0.858 n.a.

23.160 21.620 0.178 n.a. 1.545 0.150 0.125 3.015 0.295 0.865 n.a.

23.430 21.690 0.186 n.a. 1.563 0.150 0.130 3.048 0.318 0.868 n.a.

23.520 21.780 0.193 n.a. 1.575 0.150 0.135 3.065 0.325 0.875 n.a.

23.790 21.850 0.201 n.a. 1.593 0.150 0.140 3.098 0.348 0.878 n.a.

23.880 21.940 0.208 n.a. 1.605 0.150 0.145 3.115 0.355 0.885 n.a.

7.809% 14.461% 0.070% 0.000% 3.148% 0.017% 0.083% 0.307% 0.040% 0.226% 0.000%

Plantation Batu Kawan BLD Plantation Cepat Wawasan Genting Plant Golden Land Gopeng Hap Seng Plant IJM Plant. Inch Ken Kajang IOI Keck Seng Malay Kim Loong Kretam Holdings KLK Kulim Malaysia Rimbunan Sawit

18.000 8.500 0.680 10.980 0.520 1.350 2.400 3.400 0.705 4.460 4.850 3.220 0.520 23.840 n.a. 0.490

18.000 n.a. 0.673 10.470 0.505 n.a. 2.400 3.250 0.698 4.280 4.790 3.220 0.513 23.510 n.a. 0.475

18.000 n.a. 0.676 10.555 0.510 n.a. 2.400 3.285 0.699 4.350 4.815 3.220 0.514 23.645 n.a. 0.480

18.000 n.a. 0.678 10.810 0.515 n.a. 2.400 3.350 0.703 4.400 4.830 3.220 0.518 23.730 n.a. 0.485

18.000 n.a. 0.681 10.895 0.520 n.a. 2.400 3.385 0.704 4.470 4.855 3.220 0.519 23.865 n.a. 0.490

18.000 n.a. 0.683 11.150 0.525 n.a. 2.400 3.450 0.708 4.520 4.870 3.220 0.523 23.950 n.a. 0.495

18.000 n.a. 0.686 11.235 0.530 n.a. 2.400 3.485 0.709 4.590 4.895 3.220 0.524 24.085 n.a. 0.500

18.000 n.a. 0.688 11.490 0.535 n.a. 2.400 3.550 0.713 4.640 4.910 3.220 0.528 24.170 n.a. 0.505

2.456% 0.268% 0.071% 2.928% 0.038% 0.082% 0.646% 1.008% 0.096% 9.445% 0.587% 0.337% 0.345% 8.550% 0.000% 0.234%

Stocks

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Est. Weighting

|8

Market Insight

Stocks

Closing Price

S3

S2

S1

Pivot Point

R1

R2

R3

Est. Weighting

Riverview Rubber Sarawak Plant TDM TH Plant Tradewinds Plant United Plant

3.550 1.800 0.665 1.100 n.a. 27.600

n.a. 1.800 0.658 1.040 n.a. n.a.

n.a. 1.800 0.661 1.050 n.a. n.a.

n.a. 1.800 0.663 1.080 n.a. n.a.

n.a. 1.800 0.666 1.090 n.a. n.a.

n.a. 1.800 0.668 1.120 n.a. n.a.

n.a. 1.800 0.671 1.130 n.a. n.a.

n.a. 1.800 0.673 1.160 n.a. n.a.

0.078% 0.169% 0.337% 0.327% 0.000% 1.931%

Power TNB YTL Power

14.400 1.600

14.220 1.555

14.290 1.563

14.340 1.585

14.410 1.593

14.460 1.615

14.530 1.623

14.580 1.645

27.369% 4.160%

Property A & M Realty Am Corp Prop. Symphony Life Bh Crescendo Corp Daiman Develop Damansara Realty Dijaya Dutaland E&O Global Oriental Glomac Hunza Properties IJM Land Ivory Properties KLCC Property KSL Hold. Kump Hartanah Kump Perangsang LBS Bina Group Magna Prima Mah Sing Malton MK Land Nadayu Plenitude Selangor Prop Selangor Dredging SP Setia Sunway Bhd Suria Capital Talam Corp Tebrau Teguh UEM Land WCT Wing Tai YNH Property YTL Land & Dev

1.080 0.810 0.690 1.490 2.160 0.690 n.a. 0.425 1.680 0.345 0.795 n.a. n.a. 0.405 n.a. 1.130 n.a. 1.180 1.780 1.160 1.630 0.640 0.310 n.a. 1.730 4.600 0.885 3.390 3.160 2.000 n.a. n.a. n.a. n.a. 1.070 1.620 0.575

1.005 0.795 0.668 1.490 2.145 0.668 n.a. 0.425 1.650 0.330 0.750 n.a. n.a. 0.398 n.a. 1.070 n.a. 1.165 1.765 1.025 1.585 0.625 0.303 n.a. 1.715 4.600 0.833 3.255 3.070 1.955 n.a. n.a. n.a. n.a. 1.040 1.590 0.560

1.018 0.798 0.671 1.490 2.148 0.676 n.a. 0.425 1.660 0.333 0.773 n.a. n.a. 0.399 n.a. 1.090 n.a. 1.168 1.773 1.053 1.593 0.630 0.306 n.a. 1.718 4.600 0.846 3.293 3.085 1.963 n.a. n.a. n.a. n.a. 1.045 1.595 0.568

1.055 0.805 0.683 1.490 2.155 0.683 n.a. 0.425 1.670 0.340 0.780 n.a. n.a. 0.403 n.a. 1.110 n.a. 1.175 1.775 1.115 1.615 0.635 0.308 n.a. 1.725 4.600 0.868 3.345 3.130 1.985 n.a. n.a. n.a. n.a. 1.060 1.610 0.570

1.068 0.808 0.686 1.490 2.158 0.691 n.a. 0.425 1.680 0.343 0.803 n.a. n.a. 0.404 n.a. 1.130 n.a. 1.178 1.783 1.143 1.623 0.640 0.311 n.a. 1.728 4.600 0.881 3.383 3.145 1.993 n.a. n.a. n.a. n.a. 1.065 1.615 0.578

1.105 0.815 0.698 1.490 2.165 0.698 n.a. 0.425 1.690 0.350 0.810 n.a. n.a. 0.408 n.a. 1.150 n.a. 1.185 1.785 1.205 1.645 0.645 0.313 n.a. 1.735 4.600 0.903 3.435 3.190 2.015 n.a. n.a. n.a. n.a. 1.080 1.630 0.580

1.118 0.818 0.701 1.490 2.168 0.706 n.a. 0.425 1.700 0.353 0.833 n.a. n.a. 0.409 n.a. 1.170 n.a. 1.188 1.793 1.233 1.653 0.650 0.316 n.a. 1.738 4.600 0.916 3.473 3.205 2.023 n.a. n.a. n.a. n.a. 1.085 1.635 0.588

1.155 0.825 0.713 1.490 2.175 0.713 n.a. 0.425 1.710 0.360 0.840 n.a. n.a. 0.413 n.a. 1.190 n.a. 1.195 1.795 1.295 1.675 0.655 0.318 n.a. 1.745 4.600 0.938 3.525 3.250 2.045 n.a. n.a. n.a. n.a. 1.100 1.650 0.590

0.133% 0.162% 0.072% 0.114% 0.153% 0.072% 0.000% 0.121% 0.711% 0.053% 0.194% 0.000% 0.000% 0.067% 0.000% 0.392% 0.000% 0.198% 0.378% 0.129% 1.323% 0.097% 0.126% 0.000% 0.222% 0.532% 0.127% 3.217% 2.165% 0.194% 0.000% 0.000% 0.000% 0.000% 0.171% 0.287% 0.161%

Rubber Glove Adventa Hartalega Kossan Latexx Partners Rubberex Supermax Corp

0.740 4.550 6.600 n.a. 0.785 2.130

n.a. 4.355 6.450 n.a. 0.778 2.085

n.a. 4.403 6.475 n.a. 0.781 2.108

n.a. 4.485 6.550 n.a. 0.783 2.115

n.a. 4.533 6.575 n.a. 0.786 2.138

n.a. 4.615 6.650 n.a. 0.788 2.145

n.a. 4.663 6.675 n.a. 0.791 2.168

n.a. 4.745 6.750 n.a. 0.793 2.175

0.038% 2.515% 1.421% 0.000% 0.061% 0.482%

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|9

Market Insight Closing Price

S3

S2

S1

Pivot Point

R1

R2

R3

Est. Weighting

4.790

4.655

4.688

4.745

4.778

4.835

4.868

4.925

2.021%

0.035 0.320 n.a. n.a. 0.820 0.160 3.450 0.535 0.115 7.900 0.365 35.240 n.a. n.a. 1.640 2.640 1.340

0.035 0.298 n.a. n.a. 0.783 0.153 3.360 0.520 0.108 7.585 0.358 34.370 n.a. n.a. 1.625 2.610 1.250

0.035 0.304 n.a. n.a. 0.791 0.154 3.390 0.523 0.111 7.718 0.361 34.735 n.a. n.a. 1.633 2.625 1.285

0.035 0.313 n.a. n.a. 0.808 0.158 3.420 0.530 0.113 7.795 0.363 34.950 n.a. n.a. 1.635 2.630 1.310

0.035 0.319 n.a. n.a. 0.816 0.159 3.450 0.533 0.116 7.928 0.366 35.315 n.a. n.a. 1.643 2.645 1.345

0.035 0.328 n.a. n.a. 0.833 0.163 3.480 0.540 0.118 8.005 0.368 35.530 n.a. n.a. 1.645 2.650 1.370

0.035 0.334 n.a. n.a. 0.841 0.164 3.510 0.543 0.121 8.138 0.371 35.895 n.a. n.a. 1.653 2.665 1.405

0.035 0.343 n.a. n.a. 0.858 0.168 3.540 0.550 0.123 8.215 0.373 36.110 n.a. n.a. 1.655 2.670 1.430

0.025% 0.107% 0.000% 0.000% 0.068% 0.056% 0.328% 0.371% 0.032% 0.529% 0.033% 0.721% 0.000% 0.000% 0.241% 0.652% 0.528%

5.410 5.040 0.240 6.200 6.800 7.810

5.245 4.725 0.240 6.065 6.590 7.600

5.273 4.778 0.240 6.088 6.630 7.645

5.355 4.935 0.240 6.155 6.730 7.740

5.383 4.988 0.240 6.178 6.770 7.785

5.465 5.145 0.240 6.245 6.870 7.880

5.493 5.198 0.240 6.268 6.910 7.925

5.575 5.355 0.240 6.335 7.010 8.020

16.263% 13.197% 0.055% 15.682% 8.606% 1.521%

Timber Jaya Tiasa Subur Tiasa WTK

1.270 1.500 1.090

1.180 n.a. 1.015

1.200 n.a. 1.033

1.240 n.a. 1.065

1.260 n.a. 1.083

1.300 n.a. 1.115

1.320 n.a. 1.133

1.360 n.a. 1.165

0.414% 0.095% 0.175%

Transport/Logistics Bintulu Port Airasia Century Logistic Cycle & Carriage Hubline Integrated Log. Integrax Konsortium Maybulk MISC NCB Hold Scomi Energy Ser

6.710 2.790 0.915 3.230 0.005 0.805 n.a. n.a. 0.780 7.510 n.a. 0.180

n.a. 2.670 0.885 3.080 -0.003 0.783 n.a. n.a. 0.713 7.150 n.a. 0.165

n.a. 2.720 0.898 3.105 0.001 0.791 n.a. n.a. 0.739 7.305 n.a. 0.168

n.a. 2.750 0.905 3.180 0.003 0.798 n.a. n.a. 0.758 7.390 n.a. 0.175

n.a. 2.800 0.918 3.205 0.006 0.806 n.a. n.a. 0.784 7.545 n.a. 0.178

n.a. 2.830 0.925 3.280 0.008 0.813 n.a. n.a. 0.803 7.630 n.a. 0.185

n.a. 2.880 0.938 3.305 0.011 0.821 n.a. n.a. 0.829 7.785 n.a. 0.188

n.a. 2.910 0.945 3.380 0.013 0.828 n.a. n.a. 0.848 7.870 n.a. 0.195

1.040% 2.615% 0.118% 0.110% 0.021% 0.047% 0.000% 0.000% 0.263% 11.290% 0.000% 0.142%

Water & Infrastructure PBA Hold Puncak Niaga Salcon Taliworks Corp Lingkaran Trans Protasco

1.150 1.150 0.590 n.a. 5.810 1.570

1.120 1.090 0.583 n.a. 5.780 1.510

1.130 1.105 0.584 n.a. 5.790 1.520

1.140 1.130 0.588 n.a. 5.800 1.550

1.150 1.145 0.589 n.a. 5.810 1.560

1.160 1.170 0.593 n.a. 5.820 1.590

1.170 1.185 0.594 n.a. 5.830 1.600

1.180 1.210 0.598 n.a. 5.840 1.630

0.128% 0.173% 0.128% 0.000% 1.028% 0.179%

Stocks Top Glove Technology Compugates D&O Green Tech ETI Tech Formis Resources Formosa Prosonic Frontken Globetronics JCY Int’l Key Asic MPI Notion V-Tec Panasonic Man Supportive Symphony House Uchi Tech Bhd Unisem VS Industry Telcos Axiata Group DiGi.Com Green Packet Maxis Telekom Malaysia Time Dotcom

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| 10

Market Insight Closing Price 0.370 3.740 1.610 0.220 2.170 1.790 0.435 1.900 3.960 2.030 1.490 n.a. 0.200 0.285 n.a. 2.280 3.950 0.145 0.480

Stocks Ancom Asia File bhd Boustead Heavy Eden Inc Fima Corp Kumpulan FIMA KUB Malaysia Pie Industrial Southern Acids Mega First Coastal Contract Time Engineering Sealink Int'l Shin Yang Jobstreet Corp Myeg Services Pos Malaysia Picorp Lion Forest

Note: R S Est. Weight

S3

S2

S1

0.348 3.680 n.a. 0.213 2.170 1.775 0.413 1.885 n.a. 1.955 1.445 n.a. 0.193 0.263 n.a. 2.115 3.755 0.138 0.465

0.359 3.710 n.a. 0.214 2.170 1.783 0.421 1.893 n.a. 1.978 1.463 n.a. 0.194 0.274 n.a. 2.193 3.793 0.139 0.470

0.363 3.720 n.a. 0.218 2.170 1.785 0.428 1.895 n.a. 2.005 1.475 n.a. 0.198 0.278 n.a. 2.225 3.885 0.143 0.475

Pivot Point 0.374 3.750 n.a. 0.219 2.170 1.793 0.436 1.903 n.a. 2.028 1.493 n.a. 0.199 0.289 n.a. 2.303 3.923 0.144 0.480

R1

R2

R3

0.378 3.760 n.a. 0.223 2.170 1.795 0.443 1.905 n.a. 2.055 1.505 n.a. 0.203 0.293 n.a. 2.335 4.015 0.148 0.485

0.389 3.790 n.a. 0.224 2.170 1.803 0.451 1.913 n.a. 2.078 1.523 n.a. 0.204 0.304 n.a. 2.413 4.053 0.149 0.490

0.393 3.800 n.a. 0.228 2.170 1.805 0.458 1.915 n.a. 2.105 1.535 n.a. 0.208 0.308 n.a. 2.445 4.145 0.153 0.495

Est. Weighting 0.027% 0.242% 0.135% 0.023% 0.176% 0.170% 0.082% 0.246% 0.183% 0.261% 0.266% 0.000% 0.034% 0.115% 0.000% 1.843% 1.041% 0.032% 0.037%

= Resistance = Support = Based on FBMah Mkt. Cap

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| 11

Market Insight DEFINITION OF RATINGS BIMB Securities uses the following rating system: STOCK RECOMMENDATION BUY Total return (price appreciation plus dividend yield) is expected to exceed 10% in the next 12 months. TRADING BUY Share price may exceed 15% over the next 3 months, however longer-term outlook remains uncertain. HOLD Share price may fall within the range of +/- 10% over the next 12 months TAKE PROFIT Target price has been attained. Fundamentals remain intact. Look to accumulate at lower levels. TRADING SELL Share price may fall by more than 15% in the next 3 months. SELL Share price may fall by more than 10% over the next 12 months. NOT RATED Stock is not within regular research coverage. SECTOR RECOMMENDATION OVERWEIGHT The Industry as defined by the analyst’s coverage universe, is expected to outperform the relevant primary market index over the next 12 months NEUTRAL The Industry as defined by the analyst’s coverage universe, is expected to perform in line with the relevant primary market index over the next 12 months UNDERWEIGHT The Industry as defined by the analyst’s coverage universe, is expected to underperform the relevant primary market index over the next 12 months Applicability of ratings The respective analyst maintains a coverage universe of stocks, the list of which may be adjusted according to needs. Investment ratings are only applicable to the stocks which form part of the coverage universe. Reports on companies which are not part of the coverage do not carry investment ratings as we do not actively follow developments in these companies. Disclaimer The investments discussed or recommended in this report may not be suitable for all investors. This report has been prepared for information purposes only and is not an offer to sell or a solicitation to buy any securities. The directors and employees of BIMB Securities Sdn Bhd may from time to time have a position in or either the securities mentioned herein. Members of the BIMB Group and their affiliates may provide services to any company and affiliates of such companies whose securities are mentioned herein. The information herein was obtained or derived from sources that we believe are reliable, but while all reasonable care has been taken to ensure that stated facts are accurate and opinions fair and reasonable, we do not represent that it is accurate or complete and it should not be relied upon as such. No liability can be accepted for any loss that may arise from the use of this report. All opinions and estimates included in this report constitute our judgements as of this date and are subject to change without notice. BIMB Securities Sdn Bhd accepts no liability for any direct, indirect or consequential loss arising from use of this report.

Published by

BIMB SECURITIES SB (290163-X) A Participating Organisation of Bursa Malaysia Securities Berhad Level 32, Menara Multi Purpose, Capital Square, No. 8 Jalan Munshi Abdullah, 50100 Kuala Lumpur Tel: 03-2613 1600 Fax: 03-2613 1799 http://www.bimbsec.com.my

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Azharuddin Nordin Head of Research

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