vastalux energy berhad 13.18 -0.28 -2.08 daily participation participation (%) bought (rmm) sold...

Market Insight

Monday, 21 November, 2016

16795/03/2013(031743) www.bisonline.com.my

www.bimbsec.com.my BIMB Securities| 1

Major Highlights Local & Global Economic News

IOI Corp posts 1Q net profit of RM105m, revenue up at

RM3.29bn

Tabung Haji sells 2.2% stake in BIMB for RM150m

IHH realises investments to build up capital

Mah Sing and Tropicana offer tailored financing schemes

Prestariang wins RM3.5bn job

Pintaras Jaya 1Q net profit nearly doubles on higher

construction activities

Bank Negara intervenes to support weak ringgit

Too premature to make final decision on TPP

Bank Negara won’t tolerate ringgit transactions in NDF

market

China ready to slow yuan descent

ECB chief Draghi hints at more stimulus to come

Opec moves closer to oil output deal as Iran gets new offer

Bursa Malaysia

Bursa Malaysia Close Change +/- Change % FBMKLCI 1,623.80 -2.97 -0.18

FBMEMAS 11,459.21 -0.60 -0.01

FBM100 11,170.41 -0.46 0.00

FBMEMAS Shariah 12,093.22 -5.75 -0.05

FBM Hijrah Shariah 13,460.36 -7.42 -0.06

Volume (mn) 1,390.70 2.51 0.18

Value (RMmn) 1,514.06 51.35 3.51

FBMKLCI YTD Chg -4.06 Scoreboard

Close Change +/- Change % Gainers 358 24 7.19

Losers 400 5 1.27

Unchanged 353 -18 -4.85 Regional Indices

Close Change

+/- Change %

YTD Change

(%) DJIA 18,867.93 -35.89 -0.19 8.28

NASDAQ 5,321.51 -12.46 -0.23 6.27

S&P 500 2,181.90 -5.22 -0.24 6.75

FTSE 100 6,775.77 -18.94 -0.28 8.55

Nikkei 225 17,967.41 104.78 0.59 -5.60

HSI 22,344.21 81.33 0.37 1.96

SHCOMP 3,192.86 -15.60 -0.49 -9.79

KOSPI 1,974.58 -5.97 -0.30 0.68

TWSE 9,008.79 13.53 0.15 8.04

STI 2,838.65 25.17 0.89 -1.53

JCI 5,170.11 -22.91 -0.44 12.56

SET 1,473.86 0.01 0.00 14.43

PSEi 7,067.73 17.61 0.25 1.66 Market Valuation (PER) FY16 FY17 5Y Average FBMKLCI 17.00 16.24 16.60

SHCOMP 15.08 13.31 11.08

HSI 12.40 11.36 11.05

JCI 16.97 14.15 15.23

SET 15.26 13.77 13.71

STI 13.70 13.09 13.91

PSEi 18.00 16.57 17.40 The Research Team

[email protected]

03-2613 1738

Sector Indices

Close Change +/- Change % Industrial 3,064.17 -9.56 -0.31 Consumer 586.07 0.36 0.06 Industrial Products 144.33 -0.92 -0.63 Construction 289.04 -1.16 -0.40 Finance 14,117.02 -21.64 -0.15 Property 1,167.51 4.05 0.35 Plantation 7,768.48 -25.86 -0.33 Technology 22.29 -0.03 -0.13 KLCI Futures

Contracts Nov-16 Dec-16 High 1,635.50 1,638.50 Low 1,622.00 1,625.00 Last 1,629.00 1,631.50 Volume 7,428.00 356.00 Commodities (Most Recent Close)

Close Change +/- (+/- %) % Brent Crude (USD/bbl) 46.86 0.39 0.83 WTI Crude (USD/bbl) 45.69 0.35 0.77 Gold (USD/ounce) 1,207.93 -0.59 -0.05 CPO (RM/MT) 2,869.00 -7.00 -0.24 SMR 20 (sen/kg) 714.50 42.50 6.32 Latex (sen/kg) 548.00 2.50 0.46 Soybean Oil 34.31 0.35 1.03 Forex

(per USD1) Close Change +/- Change % MYR 4.4183 0.0686 1.58 JPY 110.9100 0.7900 0.72 EUR 0.9444 0.0032 0.34 SGD 1.4263 0.0055 0.39

KLCI Performance

KLCI Year-End Target: 1,720 points

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www.bimbsec.com.my | 2

Market Insight

Major Rates

KLIBOR 3-mth 3.40% KLIBOR 6-mth 3.52% KLIBOR 12-mth 3.62% 5-yr MGS 3.59% 10-yr MGS 3.97%

Active Stock

Close Change+/- (+/- %)

APFT 0.08 0.01 14.29

Rgb International 0.26 -0.01 -1.92

Hibiscus Petroleum 0.26 0.00 0.00

Airasia X 0.40 0.02 3.90 Trive Property 0.10 0.01 11.76

Top Gainers

Close Change+/- (+/- %) British American Tobacco Bhd

44.22 0.62 1.42

Petronas Dagangan 23.78 0.34 1.45 Carlsberg Brewery Malaysia B

14.20 0.30 2.16

Iq Group 2.46 0.20 8.85

Airasia 2.72 0.19 7.51

Top Losers

Close Change+/- (+/- %)

United Plantations 27.00 -1.44 -5.06

Dutch Lady 56.82 -1.18 -2.03

Nestle 78.00 -0.50 -0.64

Petronas Gas 21.00 -0.36 -1.69

Ajinomoto 13.18 -0.28 -2.08

Daily Participation

Participation

(%) Bought (RMm)

Sold (RMm)

Net (RMm)

Local Inst 53.0 895.1 708.6 186.5

Local Retail 16.0 234.0 249.2 -15.2

Foreign 31.0 385.0 556.3 -171.3

Total 100.0 1,514.1 1,514.1 0.0

Weekly Participation

Participation

(%) Bought (RMm)

Sold (RMm)

Net (RMm)

Local Inst 55.2 5,392.0 4,292.4 1,099.6

Local Retail 14.4 1,265.5 1,227.2 38.3

Foreign 30.4 2,089.6 3,227.5 -1,137.9

Total 100.00 8,747.1 8,747.1 0.0


Market Insight

LOCAL CORPORATE NEWS IOI Corp posts 1Q net profit of RM105m, revenue up at RM3.29bn IOI Corp posted a 1Q net profit of RM104.8m from a net loss of RM744.4m a year earlier on higher income from its upstream and downstream oil palm operations. Significantly lower forex loss on its foreign currency-based borrowings also supported profit in the 1QFY17. 1QFY17 revenue rose to RM3.29bn from RM3.09bn. IOI Corp's income statement showed net forex loss on foreign currency-denominated borrowings stood at RM172m against RM853.9m a year earlier. For 1QFY17, the group reported a PBT of RM189.2m as compared to the loss before taxation of RM690.6m reported for 1QFY16. The higher PBT is due mainly to higher contribution from all segments and lower net foreign currency translation loss on foreign currency denominated borrowings. (Source: The Edge) Tabung Haji sells 2.2% stake in BIMB for RM150m Lembaga Tabung Haji has trimmed its stake in BIMB Holdings by 2.2% for around RM150m. Tabung Haji divested 35.65m shares on Nov 14 at an undisclosed price. Currently, the pilgrimage fund board still owns 812m shares or a 51.1% direct stake in BIMB, whose main subsidiaries include Bank Islam, Syarikat Takaful Malaysia and BIMB Securities. The transactions crossed in 4 blocks of shares, for a price of between RM4.20 and RM4.207 apiece. A block of 7.1m shares were traded at RM29.86m, while another block of 9.55m shares were transacted at RM40.17m. Meanwhile, a block of 9.5m shares were done at RM39.9 m, and another block of 9.5m shares changed hands for RM39.96m. (Source: The Edge) IHH realises investments to build up capital IHH’s move to pare down some of its stakes in PCH Holding (formerly known as Parkway China Holding Co Pte Ltd) will free up necessary working capital for its expansion plans in China. The move, which is deemed strategic, will give the company the necessary additional ‘firepower’ to compete in the North Asian country. It also allows IHH to gain a valuable and established partner through China-based Taikang Insurance Group to help it manoeuvre and move the business forward in a country that often comes with a steep learning curve for foreign businesses. (Source: StarBiz) Mah Sing and Tropicana offer tailored financing schemes Following the footsteps of several developers, Mah Sing and Tropicana are stepping up their marketing strategies by offering tailored financing schemes to boost sales. Mah Sing has launched a deferred financing plan under its “easy home ownership” campaign, known as Lock and Roll involving about 10 completed projects located in different parts of the country. The scheme will allow buyers to remain liquid for a generous amount of time as buyers need only serve the interest of their loan for the first 24 months. Full instalment starts from the 25th month. The mechanics of the scheme involves a buyer “locking” into a unit with a RM10,000 booking fee. (Source: StarBiz) Prestariang wins RM3.5bn job Prestariang has bagged a job to implement a government-led border transformation programme potentially worth RM3.5bn. The company had received a letter dated Nov 15, 2016, from the Home Affairs Ministry to confirm that the Cabinet has approved for the company to implement “Sistem Kawalan & Imigresen Nasional” (SKIN). The concession shall be for a period of 15 years and will consist of 3 years of build and deployment phase and 12 years of maintenance and technical operation phase. The payment to Prestariang is inclusive of all costs incurred during the build and deployment phase, maintenance and technical operation phase. The payment shall only commence upon full commissioning of the system, after 3 years, with an average annual payment of RM294.7m from year 4 to year 15 during the maintenance and technical operation phase. (Source: StarBiz) Pintaras Jaya 1Q net profit nearly doubles on higher construction activities Pintaras Jaya saw its net profit for the 1QFY17 nearly doubled to RM13.2m or 8.1 sen per share from RM6.72m or 4.1 sen a year ago. The group attributed the higher profitability to increased construction activities and higher progress profits recognised from ongoing projects, which have advanced beyond the initial stages of implementation. Pintaras Jaya's revenue for 1QFY17 also grew by 67.03% to RM59.73m from RM35.76m in previous corresponding quarter. Moving forward, the group expects its construction business to perform well for the rest of FY17 based on current order book and "satisfactory" tender book value. Despite the slowdown in the property market, the local construction industry outlook remains bright for the coming year as the government continues to focus on major infrastructure projects under Budget 2017. (Source: The Edge)


Market Insight

LOCAL AND GLOBAL ECONOMIC NEWS Bank Negara intervenes to support weak ringgit Bank Negara is intervening in markets to support the beleaguered ringgit, as regional authorities grapple with a surging dollar. The ringgit has weakened by around 5% since last 2 week’s surprise presidential election victory by US billionaire Donald Trump. Trump’s promises to ramp up spending on infrastructure and cut taxes has led to warnings of a surge in inflation. That could force the policy-setting US Fed to hike interest rates to cap prices, which has led to a rush back into the dollar. Speculation of capital controls to shield the ringgit rose after the bank issued a statement earlier last week that was widely interpreted as seeking to curb trading of ringgit futures. (Source: AFP) Too premature to make final decision on TPP Malaysia and other countries participating in the TPP agreement say that it is too premature to make a final decision on the fate of the trade pact. No decision could be made until foreign and trade policies, and the appointment of key personalities are in place in President-elect Donald Trump’s new administration. They slogged over this pact for a very long time, 5 years of intensive negotiations (to conclude the TPP). It is made up of Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, South Korea, Taiwan, Thailand, the US, and Vietnam. Malaysia participated in the TPP as it had no FTA with the US, Mexico, Canada and Peru. (Source: Bernama) Bank Negara won’t tolerate ringgit transactions in NDF market BNM will no longer tolerate ringgit transactions in the non-deliverable forward (NDF) market and its damaging influence over the onshore pricing of the local currency. The activities in the offshore market, in particular the ringgit NDF market, had brought on observable adverse impacts on the onshore market. The impact of the NDF market volatility has been clearly pervasive in the onshore market and several forex traders in the domestic market were observed to be looking towards the NDF market to provide cues in determining the opening market price for the ringgit. The sum effect of these behaviours is that we inadvertently imported the NDF volatility into the onshore market. The offshore market, which is driven by speculative interest, lacks the onshore market’s diverse spectrum of market participants and information. (Source: StarBiz) China ready to slow yuan descent Chinese policymakers have been unfazed by the yuan’s recent slide, but are ready to slow its descent for fear of fanning capital flight if the currency falls too quickly through the psychologically important 7-per-dollar level. Chinese policymakers believe the decline in the yuan since October reflects market trends, especially of late when most currencies have fallen in the face of a resurgent USD. But the yuan’s outlook is clouded by the election of Donald Trump as US president because he promised during campaigning to label China a currency manipulator on Jan 20, his 1

st day in office, and to impose tariffs on

Chinese imports. The CB is following the trend as the dollar is rising. It’s not necessary for it to resist market forces. (Source: Reuters) ECB chief Draghi hints at more stimulus to come The eurozone’s tentative recovery remained heavily reliant on the bank’s ultra-loose monetary policy, fuelling expectations of more stimulus to come. Among the factors clouding the euro area’s growth prospects were geopolitical risks, anaemic inflation and an over-reliance on the ECB’s easy money policies. The recovery remains highly reliant on a constellation of financing conditions that, in turn, depend on continued monetary support, adding that the bank was committed to preserving the very substantial degree of monetary accommodation. The remarks appeared to confirm observer expectations that the ECB will announce an extension of its 80bn-euro (RM372.8bn) a month bond-buying programme when the governing council next meets on Dec 8. (Source: Reuters) Opec moves closer to oil output deal as Iran gets new offer Opec is moving closer towards finalising this month its 1

st deal since 2008 to limit oil output, with most members prepared

to offer Iran significant flexibility on production volumes. Iran has been the main stumbling block for such a deal because Tehran wants exemptions as it tries to regain oil market share after the easing of Western sanctions in January. Iran’s rival Saudi Arabia, the biggest producer in the OPEC, has argued Iran’s output has peaked and it should not be granted major concessions. On Friday, several Opec oil ministers including Saudi Arabia’s Khalid al-Falih met in Doha on the sidelines of a gas forum. At the meeting, OPEC member countries proposed Iran cap its oil output at 3.92m bpd. (Source: Reuters)


Market Insight

ECONOMIC CALENDAR

Date Time Country Event Survey Actual Prior Revised

11/21/2016 07:00 HU Economic Sentiment Nov -- -2.2 -4.5 --

11/21/2016 07:00 HU Business Confidence Nov -- 2.8 1 --

11/21/2016 07:00 HU Consumer Confidence Index Nov -- -16.5 -20.3 --

11/21/2016 07:50 JN Trade Balance Oct ¥610.0b -- ¥498.3b ¥497.6b

11/21/2016 07:50 JN Trade Balance Adjusted Oct ¥404.3b -- ¥349.0b -- 11/21/2016 07:50 JN Exports YoY Oct -8.50% -- -6.90% --

11/21/2016 07:50 JN Imports YoY Oct -16.10% -- -16.30% --

11/21/2016 08:00 SK Imports 20 Days YoY Nov -- -- -4.60% --

11/21/2016 08:00 SK Exports 20 Days YoY Nov -- -- 1.20% --

11/21/2016 10:00 NZ Credit Card Spending MoM Oct -- -- 2.60% -- 11/21/2016 10:00 NZ Credit Card Spending YoY Oct -- -- 8.20% --

11/21/2016 10:30 TH GDP YoY 3Q 3.30% -- 3.50% --

11/21/2016 10:30 TH GDP SA QoQ 3Q 0.70% -- 0.80% --

11/21/2016 12:30 JN All Industry Activity Index MoM Sep 0.00% -- 0.20% --

11/21/2016 13:00 JN Supermarket Sales YoY Oct -- -- -3.20% --

11/21/2016 14:00 ES PPI MoM Oct -- -- 0.10% --

11/21/2016 14:00 ES PPI YoY Oct -- -- -0.90% --

11/21/2016 15:00 NE House Price Index MoM Oct -- -- 0.80% --

11/21/2016 15:00 NE House Price Index YoY Oct -- -- 5.90% --

11/21/2016 15:00 JN Convenience Store Sales YoY Oct -- -- 0.00% --

11/21/2016 16:00 SZ Money Supply M3 YoY Oct -- -- 3.00% --

11/21/2016 16:00 SP Trade Balance Sep -- -- -2560.0m --

11/21/2016 16:00 TA Export Orders YoY Oct 3.70% -- 3.90% --

11/21/2016 16:20 TA BoP Current Account Balance 3Q -- -- $17131m --

11/21/2016 17:00 LN Industrial Production YoY Oct -- -- 8.00% --

11/21/2016 17:00 SZ Total Sight Deposits 18-Nov -- -- 519.9b --

11/21/2016 17:00 SZ Domestic Sight Deposits 18-Nov -- -- 449.8b --

11/21/2016 17:30 SV PPI MoM Oct -- -- 0.10% --

11/21/2016 17:30 SV PPI YoY Oct -- -- -0.90% --

11/21/2016 19:00 IS Unemployment Rate Oct -- -- 4.90% --

11/21/2016 21:00 PD Sold Industrial Output MoM Oct -0.20% -- 10.40% --

11/21/2016 21:00 PD Sold Industrial Output YoY Oct 1.00% -- 3.20% --

11/21/2016 21:00 PD Construction Output YoY Oct -15.90% -- -15.30% --

11/21/2016 21:00 PD PPI MoM Oct 0.30% -- 0.30% --

11/21/2016 21:00 PD PPI YoY Oct 0.40% -- 0.20% --

11/21/2016 21:00 PD Retail Sales MoM Oct 4.20% -- -1.20% --

11/21/2016 21:00 PD Retail Sales YoY Oct 4.20% -- 4.80% --

11/21/2016 21:00 PD Retail Sales Real YoY Oct 5.50% -- 6.30% --

11/21/2016 21:30 US Chicago Fed Nat Activity Index Oct 0 -- -0.14 -- 11/21/2016 21:30 CA Wholesale Trade Sales MoM Sep 0.50% -- 0.80% --

11/21/2016 22:00 BE Consumer Confidence Index Nov -- -- -13 --

11/21/2016 23:00 CA Bloomberg Nanos Confidence 18-Nov -- -- 55.6 --

11/21/2016 NG GDP (YoY) 3Q -2.00% -- -2.06% --

11/21/2016 PO Current Account Balance Sep -- -- 479.4m --

11/21/2016 GH Bank of Ghana Interest Rate 21-Nov 25.00% -- 26.00% --

11/21/2016 UA Retail Trade YTD YoY Oct 3.60% -- 3.30% --

11/21/2016 RR Current Account Balance Sep -- -- -89.0m --

11/21/2016 GR Current Account Balance Sep -- -- 1821m --

11/21/2016 MU CPI Composite YoY Oct -- -- 1.59% --

11/18/2016 11/21 SO Unemployment Rate Oct 9.30% -- 9.40% --

11/21/2016 11/26 BZ Tax Collections Oct 146000m -- 94770m --

Source: Bloomberg, BIMB Securities


Market Insight

PIVOT POINT ANALYSIS

Stocks Closing

Price S3 S2 S1

Pivot Point

R1 R2 R3 Est.

Weighting.

FBMKLCI Index 1623.80 1610.57 1614.14 1619.39 1622.96 1628.21 1631.78 1637.03 n.a.

FBM Hijrah Shariah 13460.36 13348.90 13370.40 13423.21 13444.71 13497.52 13519.02 13571.83 n.a.

Autos

APM Automotive 3.440 3.410 3.420 3.430 3.440 3.450 3.460 3.470 0.238%

Delloyd Ventures n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

MBM Resources 2.500 2.470 2.485 2.490 2.505 2.510 2.525 2.530 0.35%

Tan Chong 1.860 1.860 1.860 1.860 1.860 1.860 1.860 1.860 0.429%

UMW 5.150 4.955 5.018 5.085 5.148 5.215 5.278 5.345 2.126%

Building Materials Ann Joo Resource 2.010 1.905 1.938 1.975 2.008 2.045 2.078 2.115 0.356%

Alum Co of Malay 0.950 0.950 0.950 0.950 0.950 0.950 0.950 0.950 0.045%

Choo Bee Metal 1.840 1.795 1.803 1.825 1.833 1.855 1.863 1.885 0.071%

CSC Steel 2.060 1.970 2.005 2.030 2.065 2.090 2.125 2.150 0.268%

Eksons Corp 0.950 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.054%

Engtex Group 1.200 1.200 1.200 1.200 1.200 1.200 1.200 1.200 0.131%

Goh Ban Huat 1.400 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.092%

Hiap Teck 0.300 0.293 0.296 0.298 0.301 0.303 0.306 0.308 0.136%

Jaks Resources 1.010 0.995 1.003 1.005 1.013 1.015 1.023 1.025 0.156%

Java 0.070 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.004%

Kim Hin Ind 1.590 1.575 1.583 1.585 1.593 1.595 1.603 1.605 0.079%

Kinsteel 0.040 0.033 0.036 0.038 0.041 0.043 0.046 0.048 0.015%

Lafarge M Cement 7.660 7.450 7.485 7.590 7.625 7.730 7.765 7.870 2.300%

Lion Corp 0.005 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.002%

Lion Industries 0.405 0.390 0.393 0.400 0.403 0.410 0.413 0.420 0.098%

Malaysia Smelting 3.950 3.800 3.850 3.900 3.950 4.000 4.050 4.100 0.140%

Masteel 0.820 0.775 0.793 0.805 0.823 0.835 0.853 0.865 0.071%

Melewar Ind 0.560 0.523 0.541 0.548 0.566 0.573 0.591 0.598 0.045%

MTD ACPI 0.325 0.295 0.310 0.315 0.330 0.335 0.350 0.355 0.027% Pantech 0.545 0.530 0.533 0.540 0.543 0.550 0.553 0.560 0.119%

Perwaja 0.085 0.048 0.054 0.073 0.079 0.098 0.104 0.123 0.017%

Press Metal 1.610 1.565 1.588 1.595 1.618 1.625 1.648 1.655 2.099%

Southern Steel 1.260 1.245 1.248 1.255 1.258 1.265 1.268 1.275 0.188%

Tasek 13.460 13.220 13.320 13.380 13.480 13.540 13.640 13.700 0.576%

Tong Herr 1.990 1.975 1.983 1.985 1.993 1.995 2.003 2.005 0.109%

Conglomerates

Cahya Mata Sarawak 3.630 3.540 3.580 3.600 3.640 3.660 3.700 3.720 1.378% Lion Diversified 0.030 0.030 0.030 0.030 0.030 0.030 0.030 0.030 0.015%

Hap Seng Cons 7.820 7.460 7.605 7.700 7.845 7.940 8.085 8.180 6.880%

MMC 2.350 2.290 2.315 2.330 2.355 2.370 2.395 2.410 2.53%

Sime Darby 8.040 7.830 7.870 7.970 8.010 8.110 8.150 8.250 18.875%

YTL Corp 1.520 1.475 1.498 1.505 1.528 1.535 1.558 1.565 5.654%

Construction

AZRB 0.620 0.613 0.614 0.618 0.619 0.623 0.624 0.628 0.106%

Ekovest 2.390 2.330 2.355 2.370 2.395 2.410 2.435 2.450 0.722%

Fajar Baru 0.545 0.530 0.535 0.540 0.545 0.550 0.555 0.560 0.070%

Favelle Favco 2.330 2.285 2.293 2.315 2.323 2.345 2.353 2.375 0.182%

Gamuda 4.800 4.725 4.753 4.775 4.803 4.825 4.853 4.875 4.110%

Hock Seng Lee 1.690 1.600 1.640 1.660 1.700 1.720 1.760 1.780 0.328%

IJM Corp 3.270 3.195 3.208 3.245 3.258 3.295 3.308 3.345 4.163%

Kimlun 2.200 2.155 2.163 2.185 2.193 2.215 2.223 2.245 0.241%

KKB Engineer 1.340 1.310 1.320 1.330 1.340 1.350 1.360 1.370 0.122%

MRCB 1.330 1.300 1.315 1.320 1.335 1.340 1.355 1.360 1.008%


Market Insight

Stocks Closing Price

S3 S2 S1 Pivot Point

R1 R2 R3 Est.

Weighting

Mudajaya 0.880 0.865 0.868 0.875 0.878 0.885 0.888 0.895 0.17%

Muhibbah 2.200 2.170 2.180 2.190 2.200 2.210 2.220 2.230 0.37%

Naim Hold 1.500 1.335 1.368 1.445 1.478 1.555 1.588 1.665 0.13%

Sunway Hldgs 3.040 2.965 2.978 3.015 3.028 3.065 3.078 3.115 2.182%

TRC Synergy 0.425 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.072% TSR Capital 0.470 0.470 0.470 0.470 0.470 0.470 0.470 0.470 0.029%

Zelan 0.160 0.145 0.148 0.155 0.158 0.165 0.168 0.175 0.048%

Consumer/Retail

Aeon Co (M) 2.770 2.725 2.748 2.755 2.778 2.785 2.808 2.815 1.374%

Ajinomoto 13.180 12.640 12.870 13.000 13.230 13.360 13.590 13.720 0.283%

Apollo Food 6.000 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.170%

Bonia 0.590 0.575 0.583 0.585 0.593 0.595 0.603 0.605 0.168%

CI Holdings 2.610 2.535 2.548 2.585 2.598 2.635 2.648 2.685 0.149%

Cocoaland 1.920 1.830 1.860 1.890 1.920 1.950 1.980 2.010 0.155%

Dutch Lady 56.820 53.940 55.010 55.860 56.930 57.780 58.850 59.700 1.285%

Guan Chong 1.160 1.115 1.123 1.145 1.153 1.175 1.183 1.205 0.196%

Hai-O Ent 3.640 3.595 3.608 3.625 3.638 3.655 3.668 3.685 0.248%

Hovid 0.365 0.358 0.361 0.363 0.366 0.368 0.371 0.373 0.106%

Hup seng Inds 1.170 1.140 1.150 1.160 1.170 1.180 1.190 1.200 0.331%

K-Star Sports 0.065 0.050 0.053 0.060 0.063 0.070 0.073 0.080 0.006%

Multi Sports n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

Padini 2.820 2.715 2.748 2.785 2.818 2.855 2.888 2.925 0.656%

Parkson Holdings 0.745 0.723 0.729 0.738 0.744 0.753 0.759 0.768 0.283%

Pelikan International 0.870 0.833 0.851 0.858 0.876 0.883 0.901 0.908 0.169%

Poh Kong 0.460 0.445 0.453 0.455 0.463 0.465 0.473 0.475 0.067%

QL Resources 4.400 4.340 4.360 4.380 4.400 4.420 4.440 4.460 1.940%

Silver Bird n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

Three-A Resource 1.300 1.210 1.240 1.270 1.300 1.330 1.360 1.390 0.181%

Xingquan Int’l 0.090 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.019%

Yee Lee Corp 2.260 2.215 2.233 2.245 2.263 2.275 2.293 2.305 0.151%

Zhulian 1.310 1.265 1.273 1.295 1.303 1.325 1.333 1.355 0.213%

Education

HELP Int’l n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

Masterskill n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

SEG Int’l 1.110 1.095 1.103 1.105 1.113 1.115 1.123 1.125 0.283%

Finance

BIMB Hold. 4.240 4.135 4.183 4.205 4.253 4.275 4.323 4.345 2.380%

Syarikat Takaful 4.260 4.050 4.085 4.190 4.225 4.330 4.365 4.470 1.236%

Healthcare

Apex Healthcare 4.700 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.195%

CCM Duopharma 2.080 2.035 2.058 2.065 2.088 2.095 2.118 2.125 0.205%

KPJ Healthcare 4.190 4.175 4.183 4.185 4.193 4.195 4.203 4.205 1.551%

Faber Group n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

Manufacturing

CBIP 2.000 1.910 1.925 1.970 1.985 2.030 2.045 2.090 0.370%

Chin Well 1.680 1.620 1.635 1.660 1.675 1.700 1.715 1.740 0.178%

Daibochi Plastic 2.270 2.210 2.220 2.250 2.260 2.290 2.300 2.330 0.218%

Evergreen Fibre 1.050 0.990 1.000 1.030 1.040 1.070 1.080 1.110 0.314%

George Kent 2.920 2.830 2.860 2.890 2.920 2.950 2.980 3.010 0.387%

Guh Holdings 0.840 0.825 0.833 0.835 0.843 0.845 0.853 0.855 0.078%

Hil Industries 0.880 0.858 0.869 0.873 0.884 0.888 0.899 0.903 0.086%

Hong Leong Ind 9.940 9.880 9.890 9.920 9.930 9.960 9.970 10.000 1.122%


Market Insight



R1 R2 R3 Est.

Weighting

KYM Hldgs 0.335 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.018%

MWE Hold 1.290 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.105%

Muda Hold 1.540 1.525 1.533 1.535 1.543 1.545 1.553 1.555 0.166%

NTPM Hold. 0.830 0.808 0.811 0.823 0.826 0.838 0.841 0.853 0.329%

Nylex Malaysia 0.570 0.563 0.566 0.568 0.571 0.573 0.576 0.578 0.039%

Perstima 6.630 6.510 6.560 6.590 6.640 6.670 6.720 6.750 0.233%

Scientex 6.960 6.930 6.935 6.950 6.955 6.970 6.975 6.990 1.134%

Sino Hua-an 0.030 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.012%

SLP Resources 2.390 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.209%

Wellcall 1.850 1.760 1.800 1.820 1.860 1.880 1.920 1.940 0.217%

Media

Media Chinese 0.670 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.399%

Star Publication 2.440 2.425 2.433 2.435 2.443 2.445 2.453 2.455 0.636%

Utusan Melayu 0.400 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.016%

Oil & Gas

Alam Maritim 0.210 0.203 0.204 0.208 0.209 0.213 0.214 0.218 0.069%

Daya Materials 0.060 0.060 0.060 0.060 0.060 0.060 0.060 0.060 0.039%

Dayang Ent. 0.845 0.785 0.808 0.825 0.848 0.865 0.888 0.905 0.262%

Deleum 0.940 0.918 0.924 0.933 0.939 0.948 0.954 0.963 0.133%

Dialog group 1.550 1.505 1.518 1.535 1.548 1.565 1.578 1.595 2.917%

ESSO Malaysia 4.180 4.135 4.148 4.165 4.178 4.195 4.208 4.225 0.399%

KNM Group 0.375 0.360 0.365 0.370 0.375 0.380 0.385 0.390 0.283%

MMHE 0.910 0.895 0.903 0.905 0.913 0.915 0.923 0.925 0.515%

Perisai Petroleum 0.045 0.038 0.039 0.043 0.044 0.048 0.049 0.053 0.020%

Petra Energy 0.970 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.110%

Pet Chem 6.810 6.615 6.703 6.745 6.833 6.875 6.963 7.005 19.252%

Pet Dag 23.780 23.210 23.335 23.590 23.715 23.970 24.095 24.350 8.348%

Pet Gas 21.000 20.280 20.590 20.760 21.070 21.240 21.550 21.720 14.684%

Ramunia Hold 0.120 0.105 0.108 0.115 0.118 0.125 0.128 0.135 0.048%

SAAG Cons. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

Sapurakencana 1.430 1.385 1.393 1.415 1.423 1.445 1.453 1.475 3.028%

Scomi Eng 0.165 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.020%

Scomi Group 0.105 0.098 0.101 0.103 0.106 0.108 0.111 0.113 0.071%

Shell Refining 3.020 3.005 3.013 3.015 3.023 3.025 3.033 3.035 0.320%

Tanjung Offshore 0.300 0.300 0.300 0.300 0.300 0.300 0.300 0.300 0.040%

Wah Seong 0.840 0.833 0.834 0.838 0.839 0.843 0.844 0.848 0.229%

Petra Perdana n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

Plantation

Batu Kawan 18.400 18.400 18.400 18.400 18.400 18.400 18.400 18.400 2.634%

BLD Plantation 8.500 8.500 8.500 8.500 8.500 8.500 8.500 8.500 0.281%

Cepat Wawasan 0.865 0.835 0.850 0.855 0.870 0.875 0.890 0.895 0.094%

Genting Plant 10.600 10.480 10.520 10.560 10.600 10.640 10.680 10.720 2.972%

Golden Land 0.640 0.618 0.626 0.633 0.641 0.648 0.656 0.663 0.049%

Gopeng 1.230 1.230 1.230 1.230 1.230 1.230 1.230 1.230 0.078%

Hap Seng Plant 2.440 2.425 2.433 2.435 2.443 2.445 2.453 2.455 0.690%

IJM Plant. 3.340 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 1.039%

Inch Ken Kajang 0.685 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.098%

IOI 4.370 4.310 4.330 4.350 4.370 4.390 4.410 4.430 9.710%

Keck Seng Malay 4.900 4.705 4.738 4.835 4.868 4.965 4.998 5.095 0.622%

Kim Loong 3.390 3.375 3.383 3.385 3.393 3.395 3.403 3.405 0.373%

Kretam Holdings 0.540 0.533 0.536 0.538 0.541 0.543 0.546 0.548 0.375%

KLK 23.800 23.470 23.555 23.690 23.775 23.910 23.995 24.130 8.957%

Kulim Malaysia n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

Rimbunan Sawit 0.530 0.515 0.520 0.525 0.530 0.535 0.540 0.545 0.266%


Market Insight



R1 R2 R3 Est.

Weighting

Riverview Rubber 3.500 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.080%

Sarawak Plant 1.750 1.675 1.713 1.725 1.763 1.775 1.813 1.825 0.173%

TDM 0.690 0.675 0.678 0.685 0.688 0.695 0.698 0.705 0.367%

TH Plant 1.150 1.135 1.143 1.145 1.153 1.155 1.163 1.165 0.359%

Tradewinds Plant n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

United Plant 27.000 26.940 26.960 26.980 27.000 27.020 27.040 27.060 1.983%

Power

TNB 14.220 14.040 14.100 14.160 14.220 14.280 14.340 14.400 28.359%

YTL Power 1.510 1.465 1.473 1.495 1.503 1.525 1.533 1.555 4.140%

Property

A & M Realty 1.050 1.035 1.038 1.045 1.048 1.055 1.058 1.065 0.135%

Am Corp Prop. 0.760 0.745 0.753 0.755 0.763 0.765 0.773 0.775 0.159%

Symphony Life Bh 0.665 0.658 0.659 0.663 0.664 0.668 0.669 0.673 0.073%

Crescendo Corp 1.490 1.460 1.465 1.480 1.485 1.500 1.505 1.520 0.120%

Daiman Develop 2.290 2.200 2.215 2.260 2.275 2.320 2.335 2.380 0.170%

Damansara Realty 0.620 0.613 0.616 0.618 0.621 0.623 0.626 0.628 0.068%

Dijaya n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

Dutaland 0.395 0.388 0.391 0.393 0.396 0.398 0.401 0.403 0.118%

E&O 1.480 1.420 1.445 1.460 1.485 1.500 1.525 1.540 0.658%

Global Oriental 0.310 0.295 0.300 0.305 0.310 0.315 0.320 0.325 0.050%

Glomac 0.765 0.765 0.765 0.765 0.765 0.765 0.765 0.765 0.196%

Hunza Properties n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

IJM Land n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

Ivory Properties 0.455 0.440 0.448 0.450 0.458 0.460 0.468 0.470 0.079%

KLCC Property n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

KSL Hold. 1.120 1.105 1.108 1.115 1.118 1.125 1.128 1.135 0.408%

Kump Hartanah n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

Kump Perangsang 1.260 1.230 1.240 1.250 1.260 1.270 1.280 1.290 0.222%

LBS Bina Group 1.690 1.660 1.670 1.680 1.690 1.700 1.710 1.720 0.383%

Magna Prima 0.980 0.980 0.980 0.980 0.980 0.980 0.980 0.980 0.115%

Mah Sing 1.560 1.500 1.510 1.540 1.550 1.580 1.590 1.620 1.328%

Malton 0.760 0.723 0.736 0.748 0.761 0.773 0.786 0.798 0.120%

MK Land 0.280 0.273 0.276 0.278 0.281 0.283 0.286 0.288 0.119%

Nadayu n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

Plenitude 1.650 1.650 1.650 1.650 1.650 1.650 1.650 1.650 0.222%

Selangor Prop 4.610 4.610 4.610 4.610 4.610 4.610 4.610 4.610 0.560%

Selangor Dredging 0.880 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.133%

SP Setia 3.200 3.110 3.125 3.170 3.185 3.230 3.245 3.290 3.188%

Sunway 3.040 2.965 2.978 3.015 3.028 3.065 3.078 3.115 2.182%

Suria Capital 2.050 2.005 2.018 2.035 2.048 2.065 2.078 2.095 0.209%

Talam Corp n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

Tebrau Teguh n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

UEM Land n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

WCT n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

Wing Tai 1.090 1.075 1.078 1.085 1.088 1.095 1.098 1.105 0.183%

YNH Property 1.520 1.505 1.508 1.515 1.518 1.525 1.528 1.535 0.282%

YTL Land & Dev 0.580 0.573 0.574 0.578 0.579 0.583 0.584 0.588 0.170%

Rubber Glove

Adventa 0.725 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.039%

Hartalega 4.880 4.775 4.813 4.845 4.883 4.915 4.953 4.985 2.830%

Kossan 7.000 6.760 6.800 6.920 6.960 7.080 7.120 7.240 1.582%

Latexx Partners n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

Rubberex 0.800 0.785 0.788 0.795 0.798 0.805 0.808 0.815 0.065% Supermax Corp 2.350 2.245 2.268 2.315 2.338 2.385 2.408 2.455 0.557%


Market Insight



R1 R2 R3 Est.

Weighting

Top Glove 5.300 5.015 5.068 5.205 5.258 5.395 5.448 5.585 2.346%

Technology

Compugates 0.035 0.028 0.029 0.033 0.034 0.038 0.039 0.043 0.026%

D&O Green Tech 0.305 0.290 0.293 0.300 0.303 0.310 0.313 0.320 0.107%

ETI Tech n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

Formis Resources n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

Formosa Prosonic 0.810 0.803 0.804 0.808 0.809 0.813 0.814 0.818 0.071%

Frontken 0.150 0.143 0.144 0.148 0.149 0.153 0.154 0.158 0.056%

Globetronics 3.650 3.545 3.588 3.615 3.658 3.685 3.728 3.755 0.364%

JCY Int’l 0.540 0.525 0.528 0.535 0.538 0.545 0.548 0.555 0.393%

Key Asic 0.095 0.088 0.091 0.093 0.096 0.098 0.101 0.103 0.028%

MPI 7.550 7.475 7.498 7.525 7.548 7.575 7.598 7.625 0.531%

Notion V-Tec 0.375 0.368 0.371 0.373 0.376 0.378 0.381 0.383 0.036%

Panasonic Man 35.980 35.650 35.715 35.870 35.935 36.090 36.155 36.310 0.772%

Supportive n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

Symphony House n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

Uchi Tech 1.790 1.775 1.783 1.785 1.793 1.795 1.803 1.805 0.276%

Unisem 2.330 2.240 2.275 2.300 2.335 2.360 2.395 2.420 0.604%

VS Industry 1.430 1.385 1.393 1.415 1.423 1.445 1.453 1.475 0.592%

Telcos

Axiata Group 4.560 4.380 4.445 4.500 4.565 4.620 4.685 4.740 14.456%

DiGi.Com 4.990 4.915 4.933 4.965 4.983 5.015 5.033 5.065 13.710%

Green Packet 0.230 0.215 0.218 0.225 0.228 0.235 0.238 0.245 0.056%

Maxis 5.790 5.625 5.653 5.735 5.763 5.845 5.873 5.955 15.366%

Telekom Malaysia 6.340 6.235 6.268 6.305 6.338 6.375 6.408 6.445 8.419%

Time Dotcom 7.920 7.800 7.850 7.880 7.930 7.960 8.010 8.040 1.618%

Timber

Jaya Tiasa 1.420 1.390 1.405 1.410 1.425 1.430 1.445 1.450 0.486%

Subur Tiasa 1.440 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.096%

WTK 1.090 1.015 1.038 1.065 1.088 1.115 1.138 1.165 0.184%

Transport/Logistics

Bintulu Port 6.380 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 1.037%

Airasia 2.720 2.435 2.483 2.625 2.673 2.815 2.863 3.005 2.675%

Century Logistic 0.920 0.913 0.916 0.918 0.921 0.923 0.926 0.928 0.125%

Cycle & Carriage 2.950 2.920 2.925 2.940 2.945 2.960 2.965 2.980 0.105%

Hubline 0.005 0.005 0.005 0.005 0.005 0.005 0.005 0.005 0.022%

Integrated Log. 0.860 0.800 0.830 0.840 0.870 0.880 0.910 0.920 0.052%

Integrax n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

Konsortium n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

Maybulk 0.795 0.765 0.775 0.785 0.795 0.805 0.815 0.825 0.281%

MISC 7.210 7.165 7.178 7.195 7.208 7.225 7.238 7.255 11.373%

NCB Hold n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

Scomi Energy Ser 0.150 0.143 0.144 0.148 0.149 0.153 0.154 0.158 0.124%

Water & Infrastructure

PBA Hold 1.150 1.150 1.150 1.150 1.150 1.150 1.150 1.150 0.135%

Puncak Niaga 1.000 0.985 0.993 0.995 1.003 1.005 1.013 1.015 0.158%

Salcon 0.580 0.573 0.574 0.578 0.579 0.583 0.584 0.588 0.132%

Taliworks Corp n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

Lingkaran Trans 5.900 5.810 5.845 5.870 5.905 5.930 5.965 5.990 1.096%

Protasco 1.560 1.545 1.548 1.555 1.558 1.565 1.568 1.575 0.187%


Market Insight

Note: R = Resistance S = Support Est. Weight = Based on FBMah Mkt. Cap

Stocks

Closing Price


R1 R2 R3 Est.

Weighting

Ancom 0.340 0.340 0.340 0.340 0.340 0.340 0.340 0.340 0.026% Asia File 3.800 3.785 3.788 3.795 3.798 3.805 3.808 3.815 0.259%

Boustead Heavy 1.850 1.850 1.850 1.850 1.850 1.850 1.850 1.850 0.162%

Eden Inc 0.195 0.173 0.179 0.188 0.194 0.203 0.209 0.218 0.021%

Fima Corp 2.110 2.110 2.110 2.110 2.110 2.110 2.110 2.110 0.180%

Kumpulan FIMA 1.760 1.745 1.748 1.755 1.758 1.765 1.768 1.775 0.175%

KUB Malaysia 0.355 0.348 0.349 0.353 0.354 0.358 0.359 0.363 0.070%

Pie Industrial 1.720 1.645 1.668 1.695 1.718 1.745 1.768 1.795 0.233%

Southern Acids 4.100 4.055 4.073 4.085 4.103 4.115 4.133 4.145 0.198%

Mega First 2.200 2.125 2.163 2.175 2.213 2.225 2.263 2.275 0.297%

Coastal Contract 1.390 1.360 1.375 1.380 1.395 1.400 1.415 1.420 0.261%

Time Engineering n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

Sealink Int'l 0.175 0.153 0.161 0.168 0.176 0.183 0.191 0.198 0.031%

Shin Yang 0.270 0.255 0.258 0.265 0.268 0.275 0.278 0.285 0.114%

Jobstreet Corp n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000%

Myeg Services 2.300 2.255 2.278 2.285 2.308 2.315 2.338 2.345 1.951%

Pos Malaysia 4.100 3.980 4.010 4.060 4.090 4.140 4.170 4.220 1.134%

Picorp 0.140 0.125 0.128 0.135 0.138 0.145 0.148 0.155 0.033%

Lion Forest 0.490 0.468 0.471 0.483 0.486 0.498 0.501 0.513 0.039%


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 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 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 Level 32, Menara Multi Purpose, Capital Square, No. 8 Jalan Munshi Abdullah, 50100 Kuala Lumpur Tel: 03-2613 1600 Fax: 03-2613 1799 Azharuddin Nordin http://www.bimbsec.com.my Head of Research

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 with 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 opin-ions and estimates included in this report constitute our judgement as of this date and are subject to change without notice..



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vastalux energy berhad 13.18 -0.28 -2.08 daily participation participation (%) bought (rmm) sold...

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