Corporate Guide - Malaysia, April 2014

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M a l a y s i a C o r p o r a t e G u i d e Apr i l 2014

Refer to last page for important disclosures.

Market Outlook & Strategy FBMKLCI

REVIEW: The FBMKLCI tumbled in the first half of Mar 14 amid a lack of domestic catalysts, and as sentiment turned cautious on the external front due to: a) the escalating political crisis in Ukraine, b) concerns over China’s economic growth following an unexpected slump in its exports, and c) as industrial output and retail sales had missed estimates. However, the market recovered in the second half of the month, as concerns over the Ukraine situation eased, and on positive US economic data. We note that foreign investors turned less averse to Malaysian equities, chalking up net buy trades in late-March. Buying support lifted the market to a high of 1,850.73 in late-March, before closing the month a shade lower at 1,848.42 (+0.7% mom).

STRATEGY: We maintain our end-14 FBMKLCI target at 1,900 (with upside once Tenaga Nasional comes under our coverage), pegging the market at around 15.3x prospective PE, +0.4SD vs its long-term average PE. Our outlook is premised on ample domestic liquidity, particularly for small/mid caps. Appealing investment themes include: a) MRT2 beneficiaries, and b) potential extended dry spell that could benefit Tenaga Nasional and plantation companies. We expect small/mid caps to continue outperforming, with our favourite plays being Malaysia Aica, Mah Sing Group, Perisai Petroleum, Sunway Bhd, Uzma, and NOT RATED O&G play Yinson Holdings. Large-cap stocks are expected to deliver modest returns in 2014, and our top picks are DiGi.Com, Gamuda, Genting Bhd, Maybank and SapuraKencana Petroleum. We also like NOT RATED companies Tenaga Nasional and Dialog Group. We downgraded AirAsia and Malaysia Airports to SELL, and consequently the Malaysian aviation sector to UNDERWEIGHT, on the fallout of the MH370 tragedy, particularly on expectation of lower visitor arrivals from China. We also downgraded Telekom Malaysia to a SELL following its acquisition of a 57% stake in WiMAX operator P1. TOP GAINERS & LOSERS*

From 1 Apr 13 to 31 Mar 14

1,650

1,700

1,750

1,800

1,850

1,900

Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar

* Refers to business prospects & earnings growth of the sector for the next 12 months.

(RM) Feb Mar % Chg (RM) Feb Mar % Chg

Hong Leong Capital 9.36 12.16 29.9 MAS 0.25 0.21 (16.0) Cahya Mata Sarawak 7.68 9.80 27.6 Top Glove 5.77 4.95 (14.2) Datasonic Group 3.60 4.47 24.2 KPJ Healthcare 3.37 2.99 (11.3) Coastal Contract 4.20 5.05 20.2 Media Prima 2.59 2.36 (8.9) IJM Land 2.64 2.96 12.1 UMW Holdings 11.80 10.98 (6.9) Sarawak Oil Palm 5.98 6.60 10.4 Affin 4.11 3.87 (5.8) Jaya Tiasa 2.51 2.76 10.0 IGB REIT 1.20 1.14 (5.0) Parkson Holdings 2.76 3.00 8.7 Malaysia Airport 8.38 8.00 (4.5) MISC 6.35 6.90 8.7 MSM Malaysia 4.92 4.71 (4.3) BIMB Holdings 4.00 4.33 8.3 Alliance Financial 4.58 4.41 (3.7)

* Top 100 companies by market capitalization.

SECTOR RATINGS & STOCK RECOMMENDATIONS Sector Mar/Feb (% Chg) Weighting* Top Buys

Airport (4.5) Underweight Automobile (6.9) Underweight Aviation 0.0 Underweight Banking (0.2) Market Weight Maybank, Public Bank Construction 5.4 Overweight Gamuda, IJM Corp Consumer (0.7) Underweight Exchange 0.3 Market Weight Bursa Malaysia Gaming (2.0) Overweight Genting Bhd, Magnum Glove Manufacturing (6.1) Market Weight Top Glove Media 1.3 Market Weight Astro Oil & Gas - Fabrication 5.3 Underweight Oil & Gas - Drilling & Production 1.2 Overweight Perisai Petroleum, SapuraKencana Petroleum Oil & Gas - Shipping 8.7 Market Weight Plantation 2.4 Overweight Property 2.6 Market Weight MRCB, Sunway Bhd REITs 0.8 Market Weight CapitalMalls Malaysia Trust, Sunway REIT Telecommunications 2.1 Market Weight DiGi KLCI 0.7

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Sector Performance Net Cash Total ----------------- PE ----------------- ---------- EPS Growth ---------- Net ------- Yield ------- Price/ (Debt) to Market Market 2013 2014F 2015F 2013 2015F 2015F Margin ROA ROE 2013 2014F NTA ps Equity Cap. Cap. (x) (x) (x) (%) (%) (%) (%) (%) (%) (%) (%) (x) (%) (%) (RMm)

AIRPORT 34.0 41.4 24.6 (19.8) (17.8) 68.3 9.5 4.0 8.6 1.6 1.8 n.a. (76.4) 1.2 10,917

AUTOMOBILE 14.9 13.8 13.1 (6.2) 7.5 5.6 4.8 5.2 12.2 3.3 4.0 2.0 (8.5) 1.4 12,828

AVIATION 24.8 14.0 10.0 (53.7) 77.2 39.5 7.0 2.2 7.4 1.6 1.6 1.4 (178.1) 0.8 7,092

BANKING 13.8 12.7 11.7 6.2 8.6 8.0 n.a. 1.2 15.7 3.6 4.0 2.4 n.a. 32.5 303,777

CONSTRUCTION 18.3 15.5 13.8 (6.3) 18.1 12.1 11.3 4.4 9.7 2.4 2.7 1.6 (48.7) 2.4 21,970

CONSUMER 22.4 21.3 20.6 6.2 5.2 3.8 12.8 31.3 64.8 4.0 4.0 11.0 (40.3) 5.0 56,519

EXCHANGE 23.0 21.5 20.0 15.3 7.2 7.2 36.4 8.8 20.5 6.9 4.4 5.2 45.2 0.4 4,021

GAMING 17.4 17.0 16.8 (12.9) 2.4 1.1 12.7 4.4 9.8 2.4 2.3 2.1 14.9 7.5 70,487

GLOVE MANUFACTURING 17.6 16.2 14.7 14.4 9.0 9.8 12.4 17.0 22.8 2.2 2.6 3.7 3.4 1.2 10,913

MEDIA 36.0 27.4 20.7 (0.5) 31.7 32.2 9.4 6.6 79.7 2.8 2.8 n.a. (454.9) 1.8 16,635

OIL & GAS - FABRICATION 32.6 21.3 19.3 (44.8) 53.4 10.2 8.2 5.0 9.3 1.3 1.6 2.4 13.1 0.6 6,016

OIL & GAS - DRILLING & PRODUCTION 26.5 19.3 15.9 52.2 37.7 21.6 15.1 5.3 12.2 0.3 0.3 4.9 (110.7) 4.3 40,099

OIL & GAS - SHIPPING 19.4 18.1 16.2 86.3 7.4 11.4 23.2 10.3 9.1 0.7 1.7 1.3 (23.9) 3.3 30,800

PLANTATION 21.2 19.2 17.3 (15.3) 10.2 11.2 10.0 7.7 13.4 3.2 3.1 2.9 (28.1) 13.2 123,597

PROPERTY 18.4 13.6 12.0 7.3 34.9 13.8 19.9 6.4 16.7 2.2 2.3 1.8 (51.9) 3.2 30,329

REITs 19.3 17.8 16.7 32.7 8.2 6.4 74.5 6.3 9.4 4.8 4.9 1.1 (24.2) 2.9 27,468

TELECOMMUNICATIONS 23.5 22.6 20.4 2.0 3.8 11.2 15.0 7.8 19.9 4.3 4.4 10.2 (53.1) 18.4 172,225

OVERALL (RMb) 18.1 16.5 15.0 2.0 9.9 9.8 22.4 2.4 14.3 3.3 3.4 2.9 (21.6) 100.0 936b

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Corporate Statistics Avg Daily Share Price Last Net Profit EPS PE DPS Yield Hist. Net No. of Market Book Price/ Net Cash/(Debt) to 52-Wk Price Turnover Company Ticker Rec 31/3/14 Year 2013 2014F 2015F 2013 2014F 2015F 2013 2014F 2015F 2013 2014F 2013 2014F CFPS Margin ROA ROE Shares Cap. NTA ps NTA ps Mkt Cap Equity High Low 52-Wk (RM) End (RMm) (RMm) (RMm) (sen) (sen) (sen) (x) (x) (x) (sen) (sen) (%) (%) (RM) (%) (%) (%) (m) (RMm) (RM) (x) (%) (%) (RM) (RM) ('000)

AIRPORT Malaysia Airports MAHB MK SELL 8.00 12/13 320.9 A 263.7 443.9 23.5 19.3 32.5 34.0 41.4 24.6 13.0 14.0 1.6 1.8 0.49 9.5 4.0 8.6 1,364.6 10,916.8 n.a. n.a. (31.6) (76.4) 9.78 5.68 1,675 Sector 320.9 263.7 443.9 34.0 41.4 24.6 1.6 1.8 9.5 4.0 8.6 10,916.8 n.a. (31.6) (76.4) AUTOMOBILE UMW Holdings UMWH MK SELL 10.98 12/13 862.4 A 926.8 978.9 73.8 79.3 83.8 14.9 13.8 13.1 36.0 44.0 3.3 4.0 0.85 4.8 5.2 12.2 1,168.3 12,827.9 5.41 2.0 (3.7) (8.5) 15.87 10.44 1,717 Sector 862.4 926.8 978.9 14.9 13.8 13.1 3.3 4.0 4.8 5.2 12.2 12,827.9 2.0 (3.7) (8.5) AVIATION AirAsia AIRA MK SELL 2.55 12/13 285.8 A 506.3 706.5 10.3 18.2 25.4 24.8 14.0 10.0 4.0 4.0 1.6 1.6 0.36 7.0 2.2 7.4 2,781.3 7,092.4 1.80 1.4 (123.9) (178.1) 3.54 2.18 8,608 Sector 285.8 506.3 706.5 24.8 14.0 10.0 1.6 1.6 7.0 2.2 7.4 7,092.4 1.4 (123.9) (178.1) BANKING Alliance Financial AFG MK HOLD 4.41 03/13 549.5 561.6 614.8 35.5 36.3 39.7 12.4 12.2 11.1 17.7 18.0 4.0 4.1 n.a. n.a. 1.3 13.8 1,548.1 6,827.1 2.37 1.9 n.a. n.a. 5.77 4.17 1,500 AMMB Holdings AMM MK HOLD 7.18 03/13 1,729.5 1,814.5 1,942.5 57.4 60.2 64.4 12.5 11.9 11.1 23.0 24.0 3.2 3.3 n.a. n.a. 1.4 14.1 3,014.2 21,641.8 3.06 2.3 n.a. n.a. 8.12 6.43 4,983 CIMB Group CIMB MK HOLD 7.15 12/13 4,015.2 A 4,541.5 4,928.3 48.8 55.2 59.9 14.7 13.0 11.9 24.0 23.0 3.4 3.2 n.a. n.a. 1.4 16.7 8,229.3 58,839.8 2.62 2.7 n.a. n.a. 8.70 6.67 12,678 Hong Leong Bank HLBK MK SELL 14.14 06/13 1,856.3 A 1,920.5 2,024.2 103.2 106.8 112.5 13.7 13.2 12.6 34.0 37.5 2.4 2.7 n.a. n.a. 1.2 15.0 1,798.8 25,435.1 6.43 2.2 n.a. n.a. 15.06 13.32 604 Hong Leong Financial HLFG MK SELL 15.68 06/13 1,487.7 A 1,680.2 1,789.0 141.3 159.6 169.9 11.1 9.8 9.2 36.0 40.0 2.3 2.6 n.a. n.a. 0.8 15.7 1,052.8 16,507.4 9.24 1.7 n.a. n.a. 16.36 13.50 246 Maybank MAY MK BUY 9.68 12/13 6,552.4 A 6,905.6 7,347.8 73.9 77.9 82.9 13.1 12.4 11.7 55.0 58.0 5.7 6.0 n.a. n.a. 1.2 14.9 8,867.8 85,840.2 4.51 2.1 n.a. n.a. 10.80 9.25 10,722 Public Bank (F) PBKF MK BUY 19.20 12/13 4,064.7 A 4,601.9 5,123.7 116.1 131.4 146.3 16.5 14.6 13.1 52.0 59.0 2.7 3.1 n.a. n.a. 1.4 21.1 3,502.1 67,240.8 5.26 3.7 n.a. n.a. 19.98 16.08 1,303 RHB Capital RHBC MK HOLD 8.42 12/13 1,831.2 A 1,962.2 2,129.0 71.9 77.0 83.6 11.7 10.9 10.1 16.3 31.5 1.9 3.7 n.a. n.a. 1.0 11.5 2,546.9 21,445.0 4.52 1.9 n.a. n.a. 10.92 7.14 1,580 Sector 22,086.5 23,988.0 25,899.3 13.8 12.7 11.7 3.6 4.0 n.a. 1.2 15.7 303,777.3 2.4 n.a. n.a. CONSTRUCTION Gamuda GAM MK BUY 4.71 07/13 541.4 A 670.2 746.9 23.5 29.1 32.4 20.0 16.2 14.5 12.0 15.0 2.5 3.2 0.25 13.9 5.9 12.1 2,302.7 10,845.6 2.16 2.2 (10.0) (24.4) 5.05 3.95 6,865 IJM Corporation IJM MK BUY 6.14 03/13 496.2 554.4 633.3 34.3 38.3 43.6 17.9 16.0 14.1 10.0 10.0 1.6 1.6 0.41 9.0 2.9 7.7 1,427.3 8,763.9 4.40 1.4 (43.9) (70.3) 6.15 5.30 3,010 WCT Holdings WCTHG MK HOLD 2.17 12/13 187.6 A 228.9 251.9 15.4 18.3 20.0 14.1 11.9 10.9 10.0 10.0 4.6 4.6 0.19 11.8 7.5 9.8 1,087.7 2,360.2 2.02 1.1 (37.4) (44.0) 2.74 1.99 2,442 Sector 1,225.2 1,453.5 1,632.1 18.3 15.5 13.8 2.4 2.7 11.3 4.4 9.7 21,969.7 1.6 (26.5) (48.7) CONSUMER BAT ROTH MK HOLD 59.12 12/13 823.7 A 874.7 879.5 288.5 306.3 308.0 20.5 19.3 19.2 281.0 291.0 4.8 4.9 3.17 18.2 57.0 165.8 285.5 16,880.5 0.34 n.m. (2.7) (90.7) 68.00 56.58 183 Carlsberg CAB MK HOLD 13.02 12/13 183.9 A 192.8 206.3 59.8 62.7 67.1 21.8 20.8 19.4 61.0 60.0 4.7 4.6 0.66 11.8 31.5 64.2 307.6 4,005.2 0.86 15.1 0.1 1.3 17.06 11.10 176 Guinness Anchor GUIN MK HOLD 14.08 06/13 217.6 A 203.2 216.0 72.0 67.3 71.5 19.5 20.9 19.7 68.5 64.0 4.9 4.5 0.82 13.0 28.6 58.4 302.1 4,253.5 0.98 14.3 (4.6) (52.6) 22.40 14.00 97 JT International RJR MK BUY 6.50 12/13 121.6 A 129.9 132.4 46.5 49.7 50.6 14..0 13.1 12.8 16.3 18.5 2.5 2.8 0.53 9.5 25.4 34.1 261.5 1,700.0 1.37 4.8 6.7 32.4 7.71 6.18 47 Nestle NESZ MK HOLD 66.68 12/13 561.7 A 593.3 626.8 239.5 253.0 267.3 27.8 26.4 24.9 235.0 239.0 3.5 3.6 2.86 11.7 39.6 71.7 234.5 15,636.5 3.22 20.7 (0.1) (2.3) 69.50 60.20 35 QL Resouces QLG MK HOLD 3.24 3/13 164.2 186.0 202.3 13.2 14.9 16.2 24.6 21.7 20.0 3.8 4.1 1.2 1.3 0.16 6.1 7.2 15.5 1,248.0 4,043.6 0.73 4.4 (17.8) (84.6) 3.32 2.07 770 Sector 2,072.7 2,179.9 2,263.3 22.4 21.3 20.6 4.0 4.20 12.8 31.3 64.8 46,519.3 11.0 (2.7) (40.3)

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EXCHANGE Bursa Malaysia BURSA MK HOLD 7.55 12/13 174.7 A 187.2 200.6 32.8 35.1 37.7 23.0 21.5 20.0 52.0 33.4 6.9 4.4 0.39 36.4 8.8 20.5 532.6 4,021.2 1.44 5.2 9.5 45.2 8.29 6.62 957 Sector 174.7 187.2 200.6 23.0 21.5 20.0 6.9 4.4 36.4 8.8 20.5 4,021.2 5.2 9.5 45.2 GAMING Berjaya Sports Toto BST MK HOLD 3.97 04/12 386.5 388.6 391.8 29.3 29.5 29.7 13.5 13.5 13.3 28.0 24.0 7.1 6.0 0.31 10.6 26.0 64.3 1,317.5 5,230.5 n.a. n.a. (5.8) (50.7) 4.47 3.20 1,102 Genting Bhd GENT MK BUY 10.00 12/13 1,658.3 A 1,883.9 1,914.9 44.6 50.7 51.5 22.4 19.7 19.4 12.0 13.6 1.2 1.4 0.97 10.6 2.6 7.7 3,716.9 37,168.9 5.38 1.9 13.4 21.3 10.58 8.74 2,850 Genting Malaysia GENM MK HOLD 4.20 12/13 1,677.9 A 1,551.5 1,546.6 29.6 27.4 27.3 14.2 15.4 15.4 9.5 8.7 2.3 2.1 0.38 19.2 8.7 11.2 5,671.4 23,820.0 1.95 2.2 8.6 14.3 4.55 3.46 4,007 Magnum MAG MK BUY 2.99 12/13 329.3 A 326.5 341.2 23.1 22.9 23.9 13.0 13.1 12.5 20.0 20.0 6.7 6.7 0.19 9.1 5.6 9.2 1,427.3 4,267.7 n.a. n.a. (13.8) (20.0) 3.63 2.97 1,010 Sector 4,052.0 4,150.5 4,194.5 17.4 17.0 16.8 2.4 2.3 12.7 4.4 9.8 70,487.1 2.1 8.7 14.9 GLOVE MANUFACTURING Hartalega HART MK SELL 6.85 03/13 266.9 294.5 315.6 35.7 39.4 42.2 19.2 17.4 16.2 12.3 13.6 1.8 2.0 0.37 22.8 27.7 33.9 747.0 5,117.2 1.21 5.6 3.6 26.7 7.69 4.82 614 Kossan Rubber KRI MK HOLD 4.26 12/13 137.1 A 176.6 197.9 21.4 27.6 30.9 19.9 15.4 13.8 7.0 9.7 1.6 2.3 0.30 10.7 13.4 21.4 639.5 2,724.1 1.10 3.9 (1.9) (7.9) 4.60 1.75 1,496 Top Glove TOPG MK HOLD 4.95 08/12 215.2 A 204.1 227.7 34.7 32.9 36.7 14.3 15.1 13.5 16.0 19.0 3.2 3.8 0.44 8.7 13.4 17.0 620.6 3,072.0 2.14 2.3 (1.5) (4.0) 6.70 4.84 1,233 Sector 619.2 675.2 741.2 17.6 16.2 14.7 2.2 2.6 12.4 17.0 22.8 10,913.3 3.7 0.8 3.4 MEDIA Astro ASTRO MK BUY 3.20 1/14 461.7 A 607.9 803.9 8.9 11.7 15.5 36.0 27.4 20.7 9.0 8.8 2.8 2.8 0.20 9.4 6.6 79.7 5,198.3 16,634.6 n.a. n.a. (15.4) (454.9) 3.23 2.75 3,768 Sector 461.7 607.9 803.9 36.0 27.4 20.7 2.8 2.8 9.4 6.6 79.7 16,634.6 n.a. (15.4) (454.9) OIL & GAS - FABRICATION MMHE MMHE MK HOLD 3.76 12/13 184.6 283.1 312.1 11.5 17.7 19.5 32.6 21.3 19.3 5.0 6.1 1.3 1.6 0.19 8.2 5.0 9.3 1,600.0 6,016.0 1.58 2.4 5.5 13.1 4.53 3.14 1,550 Sector 184.6 283.1 312.1 32.6 21.3 19.3 1.3 1.6 8.2 5.0 9.3 6,016.0 2.4 5.5 13.1 OIL & GAS - DRILLING & PRODUCTION Bumi Armada BAB MK HOLD 3.91 12/13 431.2 A 610.9 712.6 14.7 20.8 24.3 26.6 18.8 16.1 3.5 4.5 0.9 1.2 0.29 20.8 5.5 10.6 2,932.0 11,464.3 1.49 2.6 (27.4) (77.5) 4.18 3.68 2,241 Perisai Petroleum PPT MK BUY 1.54 12/13 62.0 A 88.3 149.4 5.7 8.1 13.8 26.9 18.9 11.2 0.0 0.0 0.0 0.0 0.10 64.3 5.6 10.4 1,084.3 1,669.8 0.83 1.9 (17.4) (42.0) 1.73 1.03 4,611 SapuraKencana Petroleum SAKP MK BUY 4.50 1/14 1,017.4 A 1,380.4 1,666.4 17.0 23.0 27.8 26.5 19.5 16.2 0.0 0.0 0.0 0.0 0.29 13.0 5.2 13.1 5,992.2 26,964.7 0.48 9.3 (40.7) (132.7) 4.96 2.95 12,639 Sector 1,510.6 2,079.6 2,528.4 26.5 19.3 15.9 0.3 0.3 15.1 5.3 12.2 40,098.8 4.9 (35.9) (110.7) OIL & GAS - SHIPPING MISC MISC MK HOLD 6.90 12/13 1,585.4 A 1,702.6 1,896.1 35.5 38.1 42.5 19.4 18.1 16.2 5.0 11.5 0.7 1.7 0.77 23.2 10.3 9.1 4,463.8 30,800.2 5.33 1.3 (17.8) (23.9) 7.10 4.19 2,770 Sector 1,585.4 1,702.6 1,896.1 19.4 18.1 16.2 0.7 1.7 23.2 10.3 9.1 30,800.2 1.3 (17.8) (23.9)

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PLANTATION Genting Plantations GENP MK SELL 10.80 12/13 227.8 A 424.7 475.6 30.0 56.0 62.7 36.0 19.3 17.2 35.8 16.8 3.3 1.6 0.39 16.5 4.8 6.7 759.0 8,197.1 4.30 2.5 0.8 1.8 11.53 8.14 354 IJM Plantations IJMP MK SELL 3.35 03/13 96.6 167.5 181.7 11.7 19.7 21.3 28.6 17.0 15.7 5.9 10.0 1.8 3.0 0.19 24.6 6.0 7.2 804.4 2,694.7 1.60 2.1 (11.0) (17.8) 3.65 2.80 283 IOI Corporation* IOI MK HOLD 4.80 06/13 1,276.5 1,593.3 1,748.5 20.1 25.1 27.5 23.9 19.1 17.4 15.5 13.2 3.2 2.8 0.35 16.2 8.4 15.0 6,349.2 30,476.0 0.64 7.5 (23.5) (54.4) 4.92 3.73 6,531 Kuala Lumpur Kepong KLK MK HOLD 24.20 09/13 891.7 1,403.2 1,487.5 83.7 131.8 139.7 28.9 18.4 17.3 50.0 65.7 2.1 2.7 1.18 10.6 8.4 13.2 1,065.0 25,772.2 7.12 3.4 (3.3) (11.8) 25.28 20.30 642 Sime Darby SIME MK HOLD 9.31 06/13 3,348.2 2,851.8 3,267.7 55.2 47.0 53.9 16.9 19.8 17.3 34.0 34.0 3.7 3.7 0.82 7.9 7.7 13.9 6,064.1 56,456.8 4.39 2.1 (11.4) (24.2) 9.97 8.69 6,239 Sector 5,840.8 6,440.5 7,161.0 21.2 19.2 17.3 3.2 3.1 10.0 7.7 13.4 123,596.8 2.9 (11.9) (28.1) PROPERTY Mah Sing MSGB MK BUY 2.18 12/13 280.6 A 332.2 412.4 19.8 23.4 29.1 11.0 9.3 7.5 8.0 9.2 3.7 8.2 0.21 14.0 6.9 17.6 1,418.0 3,091.3 1.37 1.6 (54.1) (104.6) 2.82 1.83 2,793 MRCB MRC MK BUY 1.64 12/13 (119.2)A 104.7 161.1 (7.2) 6.3 9.8 n.m 25.9 16.8 0.0 2.0 0.0 1.2 (0.03) n.m n.m n.m 1,651.3 2,708.2 0.84 2.0 (111.6) (195.6) 1.84 1.23 3,716 SP Setia SPSB MK HOLD 2.92 10/13 417.9 A 540.5 720.7 17.0 22.0 29.3 17.2 13.3 10.0 14.0 14.0 4.8 4.8 0.18 13.7 3.8 15.0 2,458.7 7,179.4 2.29 1.3 (20.6) (53.0) 3.99 2.70 2,155 Sunway Bhd SWB MK BUY 3.03 12/13 482.7 A 513.7 541.0 31.7 30.3 31.9 9.6 10.0 9.5 10.0 10.0 3.3 3.3 0.92 28.1 12.8 35.1 1,723.5 5,222.3 3.26 0.9 (24.4) (29.9) 3.61 2.46 1,166 Tropicana Corporation TRCB MK BUY 1.57 12/13 144.7 A 158.4 189.7 29.9 11.6 12.5 5.3 13.5 12.6 5.0 5.0 3.2 3.2 0.25 24.6 7.2 15.5 1,366.2 2,145.0 1.82 0.9 (66.2) (60.8) 2.20 1.19 2,561 UEM Sunrise UEMS MK SELL 2.20 12/13 443.1 A 576.3 508.3 9.8 12.7 11.2 22.5 17.3 19.6 3.0 3.0 1.4 1.4 0.14 23.9 6.2 10.2 4,537.4 9,982.4 1.19 1.8 (5.8) (10.2) 3.66 2.02 9,326 Sector 1,649.8 2,225.8 2,533.2 18.4 13.6 12.0 2.2 2.3 19.9 6.4 16.7 30,328.5 1.8 (31.1) (51.9) REITs Axis REIT AXRB MK HOLD 3.38 12/13 84.0 A 89.4 93.5 18.2 19.4 20.3 18.6 17.4 16.7 18.5 19.5 5.5 5.8 0.24 77.5 6.9 11.0 461.2 1,559.0 2.23 1.5 (31.6) (48.9) 4.18 2.80 487 CapitalMalls Malaysia Trust CMMT MK BUY 1.47 12/13 148.5 A 165.0 174.1 8.4 9.3 9.8 17.6 15.8 15.0 8.8 7.7 6.0 5.2 0.13 75.3 7.2 10.6 1,776.1 2,610.8 1.20 1.2 (29.0) (35.1) 1.96 1.32 1,180 IGB REIT IGBREIT MK HOLD 1.14 12/13 206.9 A 218.0 224.2 6.0 6.4 6.5 18.9 17.9 17.4 6.7 6.8 5.9 6.0 0.09 72.4 6.3 8.8 3,428.8 3,908.8 1.05 1.1 (25.7) (28.4) 1.42 1.12 1,737 KLCC Property KLCCSS MK HOLD 6.35 12/13 554.5 A 623.7 667.4 43.4 48.7 52.1 14.6 13.0 12.2 29.0 31.0 4.6 4.9 0.46 64.6 5.2 8.2 1,805.3 11,463.9 6.48 1.0 (10.9) (12.4) 7.75 5.47 1,168 Pavilion REIT PREIT MK BUY 1.31 12/13 213.9 A 214.0 220.2 7.1 7.1 7.3 18.4 18.4 17.9 6.9 7.6 5.3 5.8 0.11 87.1 7.6 9.6 3,011.8 3,945.5 1.17 1.1 (12.6) (14.7) 1.64 1.20 1,273 Sunway REIT SREIT MK BUY 1.36 6/13 218.8 A 233.9 263.8 7.5 8.0 9.0 18.2 17.0 15.1 8.3 8.1 6.1 6.0 0.13 94.0 7.9 12.0 2,926.3 3,979.8 1.18 1.2 (42.1) (51.4) 1.70 1.22 1,682 Sector 1,426.6 1,544.0 1,643.2 19.3 17.8 16.7 4.8 4.9 74.5 6.3 9.4 27,467.7 1.1 (20.7) (24.2) TELECOMMUNICATIONS Axiata Axiata MK HOLD 6.67 12/13 2,659.1 A 2,819.1 3,171.0 31.1 33.0 37.1 21.4 20.2 18.0 22.0 23.3 3.3 3.5 0.65 12.2 5.2 11.3 8,547.6 57,012.5 1.18 5.7 (12.3) (35.3) 7.27 6.37 10,265 DiGi.Com DIGI MK BUY 5.39 12/13 1,787.2 A 1,815.8 1,988.0 23.0 23.4 25.6 23.4 23.1 21.1 21.0 23.4 3.9 4.3 0.31 25.3 43.9 369.9 7,775.0 41,907.3 n.a. n.a. (0.8) (73.3) 5.43 4.45 9,613 Maxis Maxis MK HOLD 6.96 12/13 2,093.5 A 2,104.8 2,362.3 27.9 28.0 31.5 25.0 24.8 22.1 40.0 40.0 5.7 5.7 0.39 19.4 10.0 27.0 7,504.9 52,234.0 n.a. n.a. (12.9) (102.9) 7.32 6.48 5,710 Telekom Malaysia T MK SELL 5.89 12/13 785.9 A 867.0 934.8 22.0 24.2 26.1 26.8 24.3 22.5 26.0 22.0 4.4 3.7 1.01 9.5 4.7 14.4 3,577.4 21,070.9 1.91 3.1 (18.7) (56.2) 6.20 5.05 6,480 Sector 7,325.7 7,606.7 8,456.1 23.5 22.6 20.4 4.3 4.4 15.0 7.8 19.9 172,224.7 10.2 (10.4) (53.1) OVERALL 51.7b 56.8b 62.4b 18.1 16.5 15.0 3.3 3.4 22.4 2.4 14.3 935.7b 2.9 (8.9) (21.6)

Note: If year end is before June, earnings are shown in the previous period. * IOI Corporation: Earnings adjusted for demerger exercise.

6



Economics 2011 2012 2013F 2014F 1Q13 2Q13 3Q13 4Q13 Nov 13 Dec 13 Jan 14 Feb 14

GDP by Sector (Real) (yoy % chg) GDP 5.6 4.7 5.2 5.0 4.1 4.4 5.0 5.1 n.a. n.a. n.a. n.a Agriculture 1.0 2.1 4.5 3.5 6.0 0.4 2.1 0.2 n.a. n.a. n.a. n.a Mining & Quarrying 1.4 0.5 0.4 0.9 (1.9) 4.1 1.7 (1.5) n.a. n.a. n.a. n.a Manufacturing 4.8 3.4 4.9 4.8 0.3 3.5 4.2 5.1 n.a. n.a. n.a. n.a Construction 18.1 10.9 7.8 8.7 14.2 9.9 10.2 9.8 n.a. n.a. n.a. n.a Services 6.4 5.9 6.0 5.7 6.1 5.0 5.9 6.4 n.a. n.a. n.a. n.a Utilities 4.3 4.1 4.9 5.0 3.9 4.1 4.0 4.4 n.a. n.a. n.a. n.a Transport & Communications 7.1 7.4 7.2 6.9 6.4 7.1 8.0 8.0 n.a. n.a. n.a. n.a Commerce 4.9 6.3 5.9 5.3 6.0 5.0 6.0 8.0 n.a. n.a. n.a. n.a Finance & Business Services 7.6 3.9 5.7 6.6 6.2 2.5 3.5 3.3 n.a. n.a. n.a. n.a Government Services 9.5 8.2 7.2 6.2 7.0 7.7 9.5 8.5 n.a. n.a. n.a. n.a Other Services 3.9 5.1 5.3 4.5 5.2 5.3 5.0 5.1 n.a. n.a. n.a. n.a External Trade Exports of Goods (yoy % chg) 0.7 2.4 6.3 5.9 (2.6) (5.4) 7.6 10.2 6.7 14.4 12.2 n.a Imports of Goods (yoy % chg) 5.8 7.0 6.8 6.0 6.4 2.5 7.5 11.6 6.4 14.8 7.2 n.a Trade Balance (RMb) 96.0 70.6 73.0 77.0 16.4 8.2 18.6 27.5 9.7 9.5 6.4 n.a Current Account Balance (RMb) 57.3 37.3 45.0 55.0 8.7 2.6 9.8 16.2 n.a. n.a. n.a. n.a Monetary Data (end of period) Loans (yoy % chg) 11.1 11.2 10.0 9.0 11.5 10.0 10.6 11.2 10.5 11.2 11.3 10.8 M1 Growth (yoy % chg) 11.9 13.0 10.0 9.0 12.7 12.5 12.9 13.0 13.9 13.0 12.6 11.2 M2 Growth (yoy % chg) 9.7 8.4 8.0 8.0 9.7 9.0 8.0 8.4 7.1 8.4 7.2 6.6 Overnight Policy Rate (%) 3.00 3.00 3.25 3.50 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3-month Interbank Rate (%) 3.21 3.32 3.50 3.70 3.21 3.20 3.21 3.32 3.22 3.32 3.29 3.31 Base Lending Rate (%) 6.60 6.60 6.80 6.80 6.60 6.60 6.60 6.60 6.60 6.60 6.60 6.60 Exchange Rates (RM/US$) 3.06 3.28 3.40 3.35 3.09 3.16 3.26 3.28 3.22 3.28 3.35 3.28 Foreign Reserves (RMb) 427.2 441.7 470.0 490.0 431.3 432.8 444.6 441.9 443.8 441.7 436.0 427.6 Other Macro Variables (yoy % chg) Industrial Production Index 4.4 3.3 4.6 4.5 (0.7) 5.3 5.7 2.9 3.7 4.8 3.6 n.a. Inflation 1.7 2.1 3.0 4.0 1.5 1.8 2.2 3.0 2.9 3.2 3.4 3.5 Source: CEIC, UOB Economic-Treasury Research

7



Ranking By Market Parameters Highest PE (x) Forward Highest P/NTA (x) Historical Highest Dividend Yield (%) Historical Highest 90 days Volatility (%) Highest Market Cap (RMm)

Malaysia Airports 41.4 Nestle 20.7 Mah Sing 8.2 Tropicana Corp 34.6 Maybank 85,840 Astro 27.4 Carlsberg 15.1 Magnum 6.7 MRCB 33.5 Public Bank (F) 67,241 Nestle 26.4 Guinness Anchor 14.3 Berjaya Sports Toto 6.0 Kossan Rubber 32.5 CIMB Group 58,840 MRCB 25.9 SapuraKencana Petroleum 9.3 Maybank 6.0 JT International 32.2 Axiata 57,012 Maxis 24.8 IOI Corp 7.5 IGB REIT 6.0 WCT Holdings 29.9 Sime Darby 56,457 Telekom Malaysia 24.3 Axiata 5.7 Sunway REIT 6.0 KLCC Property 29.9 Maxis 52,234 DiGi 23.1 Hartalega 5.6 Pavilion REIT 5.8 CapitalMalls Malaysia Trust 27.7 DiGi 41,907 QL Resouces 21.7 Bursa Malaysia 5.2 Axis REIT 5.8 Perisai Petroleum 27.4 Genting Bhd 37,169 Bursa Malaysia 21.5 JT International 4.8 Maxis 5.7 Malaysia Airports 27.2 MISC 30,800 MMHE 21.3 QL Resouces 4.4 CapitalMalls Malaysia Trust 5.2 IJM Plantations 26.6 IOI Corp 30,476 Lowest PE (x) Forward Lowest P/NTA (x) Historical Lowest Dividend Yield (%) Historical Lowest 90 days Volatility (%) Lowest Market Cap (RMm)

Mah Sing 9.3 Tropicana Corp 0.9 SapuraKencana Petroleum 0.0 Axiata 7.9 Axis REIT 1,559 Hong Leong Financial 9.8 Sunway Bhd 0.9 Perisai Petroleum 0.0 Nestle 8.3 Perisai Petroleum 1,670 Sunway Bhd 10.0 KLCC Property 1.0 AirAsia 0.0 Hong Leong Bank 9.8 JT International 1,700 RHB Capital 10.9 WCT Holdings 1.1 Sunway Bhd 0.0 Public Bank (F) 9.9 Tropicana Corp 2,145 WCT Holdings 11.9 IGB REIT 1.1 MMHE 0.0 Maxis 10.7 WCT Holdings 2,360 AMMB Holdings 11.9 Pavilion REIT 1.1 Genting Bhd 1.4 Maybank 10.8 CapitalMalls Malaysia Trust 2,611 Alliance Financial 12.2 Sunway REIT 1.2 UEM Sunrise 1.4 Sime Darby 10.8 IJM Plantations 2,695 Maybank 12.4 CapitalMalls Malaysia Trust 1.2 Genting Plantations 1.6 Magnum 11.7 MRCB 2,708 CIMB Group 13.0 SP Setia 1.3 AirAsia 1.6 AMMB Holdings 12.4 Kossan Rubber 2,724 KLCC Property 13.0 MISC 1.3 MMHE 1.6 Bursa Malaysia 14.8 Top Glove 3,072

8



Share Price (RM) -------------- % Change -------------- Company 28/2/14 31/3/14 mom yoy ytd

AVIATION Malaysia Airports 8.38 8.00 (4.5) 36.5 (11.1) Sector (4.5) 36.5 (11.1) AUTOMOBILE UMW Holdings 11.80 10.98 (6.9) (17.7) (9.0) Sector (6.9) (17.7) (9.0) AVIATION AirAsia 2.55 2.55 0.0 (9.9) 15.9 Sector 0.0 (9.9) 15.9 BANKING Alliance Financial 4.58 4.41 (3.7) 0.2 (7.4) AMMB Holdings 7.24 7.18 (0.8) 9.6 (0.8) CIMB Group 7.16 7.15 (0.1) (6.3) (6.2) Hong Leong Financial 15.80 15.68 (0.8) 5.0 1.3 Hong Leong Bank 14.18 14.14 (0.3) (2.2) (1.8) Maybank 9.78 9.68 (1.0) 3.5 (2.6) Public Bank (F) 19.06 19.20 0.7 17.9 (1.7) RHB Capital 8.20 8.42 2.7 (0.4) 6.6 Sector (0.2) 4.0 (2.2) CONSTRUCTION Gamuda 4.52 4.71 4.2 16.6 (1.9) IJM Corp 5.77 6.14 6.4 12.7 4.4 WCT Holdings 2.02 2.17 7.4 (8.8) 5.9 Sector 5.4 11.5 1.4


CONSUMER BAT 60.00 59.12 (1.5) (4.9) (7.8) Carlsberg 13.16 13.02 (1.1) (5.7) 6.9 Guinness Anchor 14.60 14.08 (3.6) (23.3) (12.0) JT International 6.42 6.50 1.2 4.2 0.3 Nestle 66.80 66.68 (0.2) 9.9 (1.9) QL Resources 3.15 3.24 2.9 53.7 14.0 Sector (0.7) 1.0 (3.3) EXCHANGE Bursa Malaysia 7.53 7.55 0.3 8.6 (8.3) Sector 0.3 8.6 (8.3) GAMING Berjaya Sports Toto 3.82 3.97 3.9 (3.6) (2.0) Genting Bhd 10.10 10.00 (1.0) (0.2) (2.5) Genting Malaysia 4.35 4.20 (3.4) 16.0 (4.1) Magnum 3.09 2.99 (3.2) (17.4) (5.4) Sector (2.0) 7.5 (1.3) GLOVE MANUFACTURING Hartalega 7.00 6.85 (2.1) 38.7 (5.3) Kossan Rubber 4.39 4.26 (3.0) 140.0 (1.4) Top Glove 5.77 4.95 (14.2) (8.3) (12.1) Sector (6.1) 33.4 (6.4) MEDIA Astro 3.16 3.20 1.3 13.5 6.7 Sector 1.3 13.5 6.7

Performance At A Glance

9




PROPERTY MRCB 1.58 1.64 3.8 14.7 27.1 Mah Sing 2.07 2.18 5.3 13.7 (3.5) SP Setia 2.91 2.92 0.3 (11.5) (3.0) Sunway 2.91 3.03 4.1 17.4 11.4 Tropicana Corp 1.36 1.57 15.4 1.9 28.7 UEM Sunrise 2.20 2.20 0.0 (19.4) (6.8) Sector 2.6 (5.8) 1.6 REITs Axis REIT 3.10 3.38 9.0 (0.6) 15.4 CapitalMalls Malaysia Trust 1.47 1.47 0.0 (22.2) 5.0 IGB REIT 1.20 1.14 (5.0) (19.1) (4.2) KLCC Property 6.15 6.35 3.3 (3.5) 8.5 Pavilion REIT 1.35 1.31 (3.0) (17.6) 2.3 Sunway REIT 1.34 1.36 1.5 (10.5) 9.7 Sector 0.8 (12.9) 5.8 TELECOMMUNICATIONS Axiata 6.55 6.67 1.8 1.1 (3.3) DiGi 5.15 5.39 4.7 16.4 8.7 Maxis 6.97 6.96 (0.1) 6.6 (4.3) Telekom Malaysia 5.67 5.89 3.9 9.3 6.1 Sector 2.1 7.2 0.2 OVERALL 0.9 6.3 (0.9)


OIL & GAS - FABRICATION MMHE 3.57 3.76 5.3 (0.3) 7.4 Sector 5.3 (0.3) 7.4 OIL & GAS - DRILLING & PRODUCTION Bumi Armada 3.90 3.91 0.3 4.0 (3.0) Perisai Petroleum 1.52 1.54 1.3 42.6 (3.1) SapuraKencana Petroleum 4.43 4.50 1.6 50.0 (8.2) Sector 1.2 33.0 (6.5) OIL & GAS - SHIPPING MISC 6.35 6.90 8.7 28.5 21.1 Sector 8.7 28.5 21.1 PLANTATION Genting Plantations 10.50 10.80 2.9 24.9 (2.2) IJM Plantations 3.28 3.35 2.1 11.7 (5.6) IOI Corp 4.61 4.80 4.1 26.0 1.9 Kuala Lumpur Kepong 23.98 24.20 0.9 15.7 (2.8) Sime Darby 9.11 9.31 2.2 0.4 (2.2) Sector 2.4 10.7 (1.4)


10




Airport

86

88

90

92

94

96

98

100

Jan Feb Mar

Airport

(31 Dec 13=100)

FBMKLCI

Automobile

85

90

95

100

105

Jan Feb Mar

Automobile

(31 Dec 13=100)

FBMKLCI

Aviation

95

100

105

110

115

120

Jan Feb Mar

Av iation

(31 Dec 13=100)

FBMKLCI

Banking

95

96

97

98

99

100

Jan Feb Mar

Banking

(31 Dec 13=100)

FBMKLCI

Construction

92

94

96

98

100

102

Jan Feb Mar

Construction

(31 Dec 13=100)

FBMKLCI

Consumer

95

96

97

98

99

100

Jan Feb Mar

Consumer

(31 Dec 13=100)

FBMKLCI

11




Exchange

90

92

94

96

98

100

Jan Feb Mar

Ex change

(31 Dec 13=100)

FBMKLCI

Gaming

94

95

96

97

98

99

100

101

Jan Feb Mar

Gaming

(31 Dec 13=100)

FBMKLCI

Glove Manufacturing

88

90

92

94

96

98

100

102

Jan Feb Mar

Glov e Manufacturing

(31 Dec 13=100)

FBMKLCI

Media

95

97

99

101

103

105

107

Jan Feb Mar

Media

(31 Dec 13=100)

FBMKLCI

Oil & Gas – Fabrication

94

96

98

100

102

104

106

108

110

Jan Feb Mar

Oil & Gas - Fabrication

(31 Dec 13=100)

FBMKLCI

Oil & Gas – Drilling & Production

88

90

92

94

96

98

100

Jan Feb Mar

Oil & Gas - Drilling & Production

(31 Dec 13=100)

FBMKLCI

12




Oil & Gas – Shipping

90

95

100

105

110

115

120

125

Jan Feb Mar

Oil & Gas - Shipping

(31 Dec 13=100)

FBMKLCI

Plantation

90

92

94

96

98

100

Jan Feb Mar

Plantation

(31 Dec 13=100)

FBMKLCI

Property

92

94

96

98

100

102

Jan Feb Mar

Property

(31 Dec 13=100)

FBMKLCI

REITs

94

96

98

100

102

104

106

108

Jan Feb Mar

REITs

(31 Dec 13=100)

FBMKLCI

Telecommunications

94

95

96

97

98

99

100

101

Jan Feb Mar

Telecommunications

(31 Dec 13=100)

FBMKLCI

13



Warrants 31/3/14 Warrant Exercise Share Conversion Warrant Wrt 52-Wk Issue Years Price Price Price Price Premium Gearing High Low Size To Run Expiry (RM) (RM) (RM) (RM) (%) (x) (RM) (RM) (m)

AGRICULTURE Genting Plantations 2019 3.15 7.75 10.80 10.90 0.9 3.4 4.90 2.85 139.2 5.2 17/06/19 IJM Plantations 2014 0.735 2.62 3.35 3.36 0.1 4.6 0.92 0.59 80.1 0.6 07/11/14 Kulim 2016 0.75 3.13 3.36 3.88 15.5 4.5 0.90 0.635 156.2 1.9 26/02/16 Muar Ban Lee Group 2022 0.335 0.80 1.02 1.14 11.3 3.0 0.51 0.28 46.0 8.7 28/11/22 BUILDING MATERIAL BTM Resources 2019 0.075 1.00 0.225 1.08 377.8 3.0 0.20 0.035 18.6 5.7 20/12/19 DPS Resource 2018 0.04 0.54 0.095 0.58 510.5 2.4 0.07 0.04 66.0 3.7 03/01/18 Harvest Court 2019 0.125 0.25 0.265 0.38 41.5 2.1 0.355 0.105 80.7 5.6 19/11/19 Harvest Court 2023 0.13 0.25 0.265 0.38 43.4 2.0 0.205 0.11 33.2 9.4 25/08/23 Java Inc 2014 0.04 1.00 0.265 1.04 292.5 6.6 0.22 0.04 24.6 0.7 28/11/14 Kia Lim 2016 0.13 1.00 0.545 1.13 107.3 4.2 0.13 0.13 4.1 1.8 05/02/16 Lion Corp 2019 0.03 1.00 0.075 1.03 1273.3 2.5 0.08 0.02 36.7 5.0 14/04/19 Malaysia Steel 2015 0.345 0.67 1.01 1.02 0.5 2.9 0.58 0.22 105.4 1.6 26/10/15 Priceworth 2016 0.055 0.50 0.20 0.56 177.5 3.6 0.11 0.045 86.9 2.1 24/04/16 SWS Capita 2015 0.15 0.80 0.645 0.95 47.3 4.3 0.19 0.03 21.1 1.7 11/12/15 CONSTRUCTION Crest Builder 2015 0.665 1.00 1.50 1.67 11.0 2.3 0.89 0.185 41.3 1.5 21/10/15 Gadang 2015 0.375 1.00 1.13 1.38 21.7 3.0 0.445 0.16 19.7 1.5 29/09/15 Gamuda 2015 1.97 2.66 4.71 4.63 (1.7) 2.4 2.34 1.21 252.3 1.1 25/05/15 IJM Corp 2014 1.94 4.00 6.14 5.94 (3.3) 3.2 2.01 1.25 132.1 0.6 24/10/14 Jetson 2019 0.23 0.75 0.71 0.98 38.0 3.1 0.35 0.21 34.2 4.8 06/02/19 Kimlun 2024 0.505 1.68 1.60 2.19 36.6 3.2 0.60 0.305 60.1 10.7 03/12/24 MBSB 2016 1.18 1.00 2.18 2.18 (0.0) 1.8 2.29 1.15 506.4 2.2 31/05/16 PJI Holdings 2016 0.045 0.13 0.115 0.18 52.2 2.6 0.08 0.045 304.5 2.0 27/03/16 Resintech 2016 0.08 0.50 0.275 0.58 110.9 3.4 0.105 0.045 68.6 2.5 26/09/16 Salcon 2014 0.055 0.75 0.745 0.81 8.1 13.5 0.29 0.03 106.0 0.1 17/05/14 TRC Synergy 2016 0.155 0.61 0.55 0.77 39.1 3.5 0.23 0.115 93.5 2.3 14/07/16 TRC Synergy 2017 0.18 1.00 0.55 1.18 114.5 3.1 0.27 0.155 36.9 2.8 20/01/17 Unimech 2018 0.37 1.50 1.58 1.87 18.4 4.3 0.50 0.28 60.4 4.5 18/09/18 WCT Holdings 2016 0.415 2.04 2.17 2.46 13.1 5.2 0.705 0.375 157.3 1.9 10/03/16 WCT Holdings 2017 0.41 2.25 2.17 2.66 22.6 5.3 0.65 0.32 164.8 3.7 11/12/17 Zecon 2017 0.12 1.06 0.755 1.18 56.3 6.3 0.255 0.075 44.2 2.9 05/03/17

14




CONSUMER Asia Media 2018 0.04 0.22 0.095 0.26 173.7 2.4 0.075 0.025 412.0 3.7 01/01/18 Berjaya Food 2017 0.69 0.70 1.43 1.39 (2.8) 2.1 1.18 0.60 115.1 3.3 08/08/17 Biosis Group 2020 0.035 0.50 0.175 0.54 205.7 5.0 0.125 0.03 40.0 6.4 24/08/20 Careplus Group 2016 0.09 0.49 0.335 0.58 73.1 3.7 0.14 0.06 105.0 2.3 09/08/16 China Stationery 2017 0.05 1.15 0.20 1.20 500.0 4.0 0.115 0.045 596.3 3.5 18/09/17 DBE Gurney Resource 2016 0.03 0.10 0.07 0.13 85.7 2.3 0.045 0.025 200.0 2.0 22/03/16 EG Industries 2015 0.07 1.00 0.43 1.07 148.8 6.1 0.125 0.05 16.7 1.2 16/06/15 Farm's Best 2018 0.215 1.00 0.69 1.22 76.1 3.2 0.475 0.165 27.8 4.3 14/07/18 Fiamma 2018 0.66 1.00 1.67 1.66 (0.6) 2.5 0.75 0.40 52.4 4.6 26/11/18 Hovid 2018 0.17 0.18 0.34 0.35 2.9 2.0 0.195 0.085 381.0 4.2 05/06/18 Guan Chong 2016 0.335 1.34 1.36 1.68 23.2 4.1 0.70 0.31 89.7 1.9 16/02/16 Kuantan Flour 2016 0.15 0.51 0.535 0.66 23.4 3.6 0.18 0.06 37.2 2.5 19/10/16 Niche Capital 2017 0.135 0.16 0.06 0.30 391.7 0.4 0.225 0.095 53.1 3.3 09/08/17 Malayan Flour 2017 0.35 2.06 1.54 2.41 56.5 4.4 0.425 0.215 107.6 3.1 09/05/17 Spritzer 2016 0.66 1.18 1.76 1.84 4.5 2.7 0.77 0.19 32.7 2.7 13/12/16 Takaso 2016 0.105 0.35 0.23 0.46 97.8 2.2 0.145 0.08 56.4 2.4 04/09/16 Xidelang Holding 2015 0.05 0.35 0.285 0.40 40.4 5.7 0.285 0.035 242.0 1.1 25/04/15 Xidelang Holding 2017 0.075 0.35 0.285 0.43 49.1 3.8 0.16 0.065 181.5 2.8 22/01/17 FINANCE BIMB 2023 0.68 4.72 4.33 5.40 24.7 6.4 0.905 0.305 426.7 9.7 04/12/23 MBSB 2016 1.18 1.00 2.18 2.18 (0.0) 1.8 2.29 1.15 509.0 2.2 31/05/16 GAMING Genting Bhd 2018 2.90 7.96 10.0 10.86 8.6 3.4 3.88 2.60 764.2 4.7 18/12/18 INDUSTRIAL ABRIC 2016 0.09 0.30 0.285 0.39 36.8 3.2 0.12 0.07 49.5 2.0 07/04/16 Astral Supreme 2016 0.075 0.20 0.17 0.28 61.8 2.3 0.165 0.055 39.9 2.3 08/08/16 Astral Supreme 2018 0.08 0.20 0.17 0.28 64.7 2.1 0.175 0.055 70.4 4.2 20/06/18 Bright Packaging 2019 0.235 0.82 0.675 1.06 56.3 2.9 0.265 0.14 57.7 4.8 12/01/19 Boon Koon Group 2023 0.065 0.20 0.14 0.27 89.3 2.2 0.10 0.055 138.4 9.3 07/07/23 China Automobile Parts 2016 0.075 0.35 0.345 0.43 23.2 4.6 0.12 0.06 300.0 2.7 29/12/16 Chuan Huat 2016 0.135 0.50 0.46 0.64 38.0 3.4 0.295 0.10 41.8 1.8 06/01/16

15




Destini 2016 0.17 0.40 0.525 0.57 8.6 3.1 0.22 0.09 242.0 2.5 02/10/16 Fututech 2017 0.20 1.00 0.82 1.20 46.3 4.1 0.255 0.11 23.5 3.7 20/12/17 GBH 2020 0.805 1.00 1.76 1.81 2.6 2.2 0.82 0.16 61.9 6.0 07/04/20 Gefung 2017 0.055 0.15 0.14 0.21 46.4 2.5 0.10 0.05 21.8 2.8 19/01/17 Hap Seng Conso 2016 1.31 1.65 3.01 2.96 (1.7) 2.3 1.36 0.355 364.4 2.3 09/08/16 Hartalega 2015 2.57 4.02 6.85 6.59 (3.8) 2.7 3.70 1.06 73.1 1.2 29/05/15 Heveaboard 2020 0.705 1.00 1.45 1.71 17.6 2.1 0.80 0.155 42.7 5.9 28/02/20 Hiap Teck 2017 0.325 0.69 0.74 1.02 37.2 2.3 0.365 0.10 88.5 2.8 09/01/17 Ho Wah Genting 2015 0.07 0.20 0.19 0.27 42.1 2.7 0.22 0.065 137.9 1.0 08/04/15 Inari 2018 2.29 0.38 2.69 2.67 (0.7) 1.2 2.55 0.325 202.9 4.2 04/06/18 Integrated Rubber 2015 0.16 0.25 0.365 0.41 12.3 2.3 0.325 0.055 236.8 1.7 18/12/15 Jadi Image 2015 0.04 0.17 0.14 0.21 50.0 3.5 0.055 0.025 348.2 1.5 12/10/15 Johore Tin 2017 0.30 2.28 1.67 2.58 54.5 5.6 0.565 0.30 23.3 3.6 21/11/17 KBB Resources 2019 0.06 0.20 0.155 0.26 67.7 2.6 0.08 0.05 120.0 4.8 22/01/19 Luster Industries 2022 0.05 0.10 0.10 0.15 50.0 2.0 0.15 0.04 441.6 8.2 03/06/22 Luster Industries 2023 0.06 0.10 0.10 0.16 60.0 1.7 0.18 0.04 216.0 9.1 26/05/23 MBM Resources 2017 0.535 3.20 3.25 3.74 14.9 6.1 1.00 0.53 73.2 3.2 14/06/17 Mclean Technology 2016 0.035 0.52 0.135 0.56 311.1 3.9 0.055 0.03 58.7 2.1 09/05/16 Muar Ban Lee 2022 0.335 0.80 1.02 1.14 11.3 3.0 0.51 0.28 46.0 8.7 28/11/22 PA Resources 2015 0.045 0.50 0.135 0.55 303.7 3.0 0.065 0.035 90.2 1.3 18/07/15 Pensonic 2024 0.15 0.60 0.43 0.75 74.4 2.9 0.18 0.135 64.8 9.8 20/01/24 Perwaja 2022 0.05 1.00 0.155 1.05 577.4 3.1 0.21 0.025 280.0 7.9 28/02/22 Press Metal 2019 0.75 2.20 2.26 2.95 30.5 3.0 0.965 0.51 145.7 5.4 22/08/19 Ralco 2019 0.12 1.00 0.60 1.12 86.7 5.0 0.13 0.07 20.3 5.7 13/12/19 Rapid Synergy 2017 3.50 1.00 4.48 4.50 0.4 1.3 3.53 1.90 21.1 3.0 09/04/17 Sanichi Technology 2018 0.045 0.10 0.075 0.15 93.3 1.7 0.065 0.035 60.5 3.9 13/03/18 Seacera Group 2017 0.225 1.00 0.97 1.23 26.3 4.3 0.345 0.08 20.5 3.1 16/05/17 Sersol 2023 0.265 0.18 0.37 0.45 20.3 1.4 0.91 0.045 96.4 9.0 18/04/23 SMPC Corporation 2022 0.175 1.00 0.93 1.18 26.3 5.3 0.405 0.05 20.3 8.1 09/05/22 Scope Industries 2020 0.26 0.15 0.375 0.41 9.3 1.4 0.30 0.095 118.6 6.3 18/07/20 Toyo Ink 2018 0.10 1.50 0.68 1.60 135.3 6.8 0.185 0.095 42.8 4.1 22/04/18 OIL & GAS CLIQ Energy 2016 0.295 0.50 0.63 0.80 26.2 2.1 0.56 0.155 630.9 2.0 09/04/16 Coastal Contract 2016 1.99 3.18 5.05 5.17 2.4 2.5 2.15 0.17 60.4 2.3 18/07/16

16




Dialog 2017 1.46 2.40 3.59 3.86 7.5 2.5 1.57 0.405 198.4 2.9 12/02/17 Hibiscus 2014 1.33 0.50 1.88 1.83 (2.7) 1.4 2.16 0.80 334.4 0.3 24/07/14 Kejuruteraan Samudra 2018 0.15 0.30 0.395 0.45 13.9 2.6 0.23 0.06 71.5 3.7 01/01/18 KNM Group 2017 0.24 1.00 0.775 1.24 60.0 3.2 0.295 0.09 488.9 3.6 15/11/17 Perdana Petroleum 2015 1.20 0.71 1.91 1.91 (0.0) 1.6 1.27 0.37 76.2 1.6 26/10/15 Ramunia 2014 0.43 0.51 0.895 0.94 5.0 2.1 0.55 0.225 277.9 0.7 20/12/14 Sona Petroleum 2018 0.285 0.35 0.51 0.64 24.5 1.8 0.35 0.195 1,410.7 4.3 29/07/18 Sumatec 2021 0.18 0.32 0.285 0.50 75.4 1.6 0.635 0.045 118.8 6.9 03/03/21 Sumatec 2018 0.205 0.175 0.285 0.38 33.3 1.4 0.28 0.15 567.7 4.6 13/11/18 Tanjung Offshore 2016 0.295 0.50 0.55 0.80 44.5 1.9 0.465 0.105 37.9 2.0 07/04/16 PROPERTY Encorp 2016 0.55 1.00 1.30 1.55 19.2 2.4 0.62 0.065 32.9 2.0 17/03/16 Gabungan Aqrs 2018 0.28 1.30 1.36 1.58 16.2 4.9 0.48 0.18 160.0 4.3 20/07/18 Hunza Property 2015 0.82 1.10 1.93 1.92 (0.5) 2.4 1.44 0.59 43.6 0.9 02/03/15 Ivory Properties 2017 0.23 0.75 0.60 0.98 63.3 2.6 0.41 0.18 186.0 3.1 26/04/17 KSL Holdings 2016 0.84 1.60 2.11 2.44 15.6 2.5 1.45 0.62 96.6 2.4 19/08/16 Karambunai Corp 2023 0.03 0.131 0.09 0.16 78.9 3.0 0.04 0.025 1,015.0 9.5 20/10/23 LBI Capital 2018 0.43 1.00 1.47 1.43 (2.7) 3.4 0.56 0.20 31.2 4.0 17/04/18 LBS Bina 2018 0.755 1.00 1.73 1.76 1.4 2.3 1.19 0.31 154.1 4.2 11/06/18 Mah Sing 2018 0.54 1.98 2.18 2.52 15.6 4.0 0.96 0.39 168.1 4.0 18/03/18 Meda Inc 2021 0.125 0.50 0.75 0.63 (16.7) 6.0 0.215 0.105 53.6 7.4 13/08/21 Meda Inc 2022 0.27 0.60 0.75 0.87 16.0 2.8 0.37 0.18 114.0 8.1 23/04/22 MKH 2017 2.86 2.26 4.85 5.12 5.6 1.7 2.90 0.43 29.1 3.7 30/12/17 MRCB 2018 0.23 2.30 1.64 2.53 54.3 7.1 0.315 0.20 537.9 4.5 16/09/18 OSK Property 2017 0.735 1.00 1.66 1.74 4.5 2.3 0.845 0.175 106.2 3.4 28/08/17 PJ Development 2020 0.72 1.00 1.48 1.72 16.2 2.1 0.83 0.135 213.8 6.7 04/12/20 See Hup 2017 0.12 1.00 0.71 1.12 57.7 5.9 0.18 0.075 20.4 3.7 22/12/17 Sunway Bhd 2016 0.765 2.50 3.03 3.27 7.8 4.0 1.30 0.50 289.7 2.4 17/08/16 Symphony Life 2020 0.285 1.10 0.965 1.39 43.5 3.4 0.365 0.22 107.4 6.6 11/11/20 Tambun Indah 2017 1.29 0.60 1.95 1.89 (3.1) 1.5 1.38 0.385 44.2 3.2 30/05/17 Tropicana Corp 2019 0.805 1.00 1.57 1.81 15.0 2.0 1.09 0.45 129.8 5.6 19/11/19 YKGI Holdings 2020 0.09 0.50 0.36 0.59 63.9 4.0 0.14 0.085 95.0 6.2 28/05/20

17




SERVICES APFT 2018 0.07 0.40 0.215 0.47 118.6 3.1 0.26 0.065 78.5 4.3 13/07/18 Berjaya Corp 2022 0.155 1.00 0.53 1.16 117.9 3.4 0.26 0.10 700.1 8.1 22/04/22 Berjaya Media 2016 0.10 1.00 0.50 1.10 120.0 5.0 0.13 0.08 56.3 2.7 18/12/16 Borneo Oil 2018 0.365 1.00 0.67 1.37 103.7 1.8 0.42 0.13 53.5 3.9 28/02/18 Eduspec 2018 0.12 0.18 0.26 0.30 15.4 2.2 0.16 0.055 99.0 4.7 24/12/18 Engtex 2017 0.865 1.25 1.89 2.12 11.9 2.2 0.935 0.11 99.0 3.6 25/10/17 Engtex 2017 0.07 0.50 0.285 0.57 100.0 4.1 0.14 0.05 31.6 3.0 30/03/17 Freight Management 2017 0.835 0.97 1.83 1.81 (1.4) 2.2 0.855 0.22 24.3 2.8 08/01/17 Flonic Hi-Tec 2017 0.05 0.05 0.085 0.10 17.6 1.7 0.12 0.035 140.0 3.2 18/06/17 Frontken Corp 2015 0.03 0.18 0.105 0.21 100.0 3.5 0.055 0.025 289.0 0.9 10/03/15 FSBM Holdings 2022 0.08 0.30 0.285 0.38 33.3 3.6 0.085 0.03 59.1 8.1 16/05/22 GD Express 2015 1.53 0.195 1.78 1.73 (3.1) 1.2 2.65 0.90 101.2 1.8 07/02/16 Gunung Capital 2020 0.50 0.50 0.85 1.00 17.6 1.7 0.755 0.14 25.2 6.5 02/10/20 Hubline 2019 0.015 0.20 0.045 0.22 377.8 3.0 0.025 0.01 621.7 5.0 11/04/19 KPJ Healthcare 2015 1.80 1.13 2.99 2.93 (2.0) 1.7 5.75 1.80 134.5 0.8 10/01/15 KPJ Healthcare 2019 0.62 4.01 2.99 4.63 54.8 4.8 0.985 0.305 87.3 4.8 23/01/19 Marco 2014 0.07 0.10 0.17 0.17 0.0 2.4 0.095 0.035 354.8 0.1 26/05/14 Media Prima 2014 0.535 1.80 2.36 2.34 (1.1) 4.4 1.18 0.445 44.5 0.7 31/12/14 Pantech 2020 0.44 0.60 0.88 1.04 18.2 2.0 0.72 0.275 74.8 6.7 21/12/20 Puncak 2020 1.97 1.00 2.85 2.97 4.2 1.4 2.70 1.60 74.8 6.7 21/12/20 Puncak 2018 0.98 1.00 1.51 1.98 31.1 1.5 1.16 0.955 40.9 4.3 20/07/18 Tiong Nam Logistics 2018 0.67 1.00 1.28 1.67 30.5 1.9 0.835 0.56 210.3 4.7 26/12/18 TECHNOLOGY Asdion 2019 0.175 0.50 0.405 0.68 66.7 2.3 0.19 0.105 52.2 5.0 24/03/19 Asiaep 2014 n.a 0.10 n.a n.a. n.a. n.a. n.a. n.a. 241.9 0.4 08/09/14 AT Systematizatin 2019 0.035 0.12 0.08 0.16 93.8 2.3 0.045 0.03 196.8 4.8 28/01/19 Connectcounty Holdings 2021 0.10 0.10 0.165 0.20 21.2 1.7 0.15 0.05 60.8 7.5 18/09/21 Cuscapi 2018 0.24 0.27 0.38 0.51 34.2 1.6 0.395 0.045 123.2 4.1 24/04/18 Digistar 2017 0.135 0.13 0.225 0.27 17.8 1.7 0.235 0.105 101.8 2.8 07/02/17 Digistar 2023 0.095 0.26 0.225 0.36 57.8 2.4 0.17 0.065 74.0 9.0 04/04/23 DVM Technology 2018 0.03 0.10 0.07 0.13 85.7 2.3 0.05 0.025 290.4 4.2 02/07/18 EA Holdings 2019 0.04 0.40 0.175 0.44 151.4 4.4 0.16 0.035 116.3 1.8 07/12/15 Ewein 2017 0.31 1.00 0.605 1.31 116.5 2.0 0.48 0.07 52.7 3.5 06/10/17

18




Fast Track 2017 0.06 0.12 0.125 0.18 44.0 2.1 0.085 0.05 102.5 3.7 01/12/17 Formis Resources 2016 0.195 0.96 0.80 1.16 44.4 4.1 0.23 0.045 106.5 2.0 19/04/16 Formis Resources 2018 0.35 0.50 0.80 0.85 6.3 2.3 0.45 0.08 83.1 4.2 30/05/18 Grand-Flo Solution 2015 0.145 0.25 0.27 0.40 46.3 1.9 0.215 0.105 67.9 1.0 21/04/15 Green Packet 2014 0.10 0.95 0.455 1.05 130.8 4.6 0.225 0.085 197.6 0.5 27/09/14 Ingenuity Solutions 2016 0.045 0.10 0.10 0.15 45.0 2.2 0.085 0.04 182.4 2.3 18/07/16 Instacom Group 2018 0.105 0.33 0.24 0.44 81.3 2.3 0.19 0.09 351.1 4.4 08/09/18 Iris Corp 2016 0.37 0.15 0.515 0.52 1.0 1.4 0.47 0.055 55.3 2.2 24/06/16 Iris Corp 2016 0.365 0.15 0.515 0.52 0.0 1.4 0.47 0.06 212.3 2.0 20/04/16 K-One Technology 2015 0.215 0.22 0.325 0.44 33.8 1.5 0.305 0.04 93.6 1.7 11/12/15 Media Shoppe 2017 0.04 0.10 0.065 0.14 115.4 1.6 0.12 0.03 234.5 2.8 16/01/17 Mexter Technology 2018 0.04 0.13 0.095 0.17 78.9 2.4 0.055 0.035 89.5 4.5 17/09/18 MLabs Systems 2020 0.05 0.10 0.115 0.15 30.4 2.3 0.06 0.04 77.2 6.1 26/04/20 Mtouche 2018 0.05 0.89 0.24 0.94 291.7 4.8 0.13 0.04 45.4 3.8 17/01/18 Mtouche 2020 0.085 0.27 0.24 0.36 47.9 2.8 0.15 0.075 53.3 6.0 16/03/20 Nextnation Comm 2022 0.07 0.10 0.13 0.17 30.8 1.9 0.105 0.04 30.7 8.1 16/05/22 Nextnation Comm 2022 0.04 0.35 0.13 0.39 200.0 3.3 0.10 0.02 120.0 9.3 21/07/23 Nextnation Comm 2024 0.08 0.11 0.13 0.19 46.2 1.6 0.125 0.045 211.5 9.8 15/01/24 Notion Vtec 2015 0.105 2.55 0.60 2.66 342.5 5.7 0.28 0.095 345.3 1.0 15/04/15 Notion Vtec 2015 0.045 2.55 0.60 2.60 332.5 13.3 0.145 0.04 30.7 1.0 15/04/15 N2N Connect 2018 0.54 0.32 0.81 0.86 6.2 1.5 0.55 0.11 99.9 4.3 04/08/18 OSK Venture 2015 0.165 0.50 0.59 0.67 12.7 3.6 0.235 0.05 97.9 1.5 07/10/15 Palette Multimedia 2018 0.025 0.10 0.05 0.13 150.0 2.0 0.04 0.02 145.3 4.0 20/03/18 R&A Telecommunication 2017 0.03 0.17 0.045 0.20 344.4 1.5 0.06 0.025 87.9 3.0 22/03/17 Redtone 2015 0.49 0.25 0.725 0.74 2.1 1.5 0.60 0.18 162.4 0.9 04/03/15 SMR Technologies 2017 0.13 0.18 0.25 0.31 24.0 1.9 0.14 0.08 86.0 3.3 01/08/17 Silver Ridge Holdings 2023 0.09 0.18 0.20 0.27 35.0 2.2 0.18 0.055 55.0 8.9 24/02/23 TFP Solutions 2019 0.16 0.10 0.265 0.26 (1.9) 1.7 0.225 0.145 100.9 5.0 16/02/19 Technodex 2018 0.115 0.11 0.18 0.23 25.0 1.6 0.125 0.05 85.2 4.5 22/09/18 Unisem 2015 0.145 2.18 1.03 2.33 125.7 7.1 0.23 0.13 168.5 1.4 24/08/15 Wintoni Group 2019 0.03 0.10 0.055 0.13 136.4 1.8 0.075 0.03 216.0 5.0 23/02/19 VisDynamics 2015 0.615 0.25 0.745 0.87 16.1 1.2 0.615 0.10 50.3 2.4 01/09/16 UTILITIES YTL Power 2018 0.515 1.21 1.57 1.73 9.9 3.0 0.82 0.36 1,776.4 4.2 11/06/18

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Covered Warrants 31/3/14 Warrant Exercise Share Conversion Warrant Wrt 52-Wk Issue Days Conversion Price Price Price Price Premium Gearing High Low Size To Run Expiry Ratio (RM) (RM) (RM) (RM) (%) (x) (RM) (RM) (m) (Wrt : 1 Shr)

Affin 300614 0.005 4.40 3.87 4.42 14.1 258.0 0.13 0.005 50.0 0.2 30/06/14 3.00 Affin 270215 0.075 4.10 3.87 4.33 11.8 17.2 0.075 0.065 50.0 0.9 27/02/15 3.00 AirAsia 300514 0.005 3.15 2.55 3.17 24.1 170.0 0.155 0.005 50.0 0.2 30/05/14 3.00 AirAsia 220714 0.015 3.30 2.55 3.36 31.8 42.5 0.12 0.005 40.0 0.3 22/07/14 4.00 AirAsia 280814 0.06 2.55 2.55 2.73 7.1 14.2 0.205 0.05 100.0 0.4 22/08/14 3.00 AirAsia 280814 0.01 3.48 2.55 3.52 38.0 63.8 0.065 0.005 100.0 0.4 28/08/14 4.00 AirAsia 311014 0.05 2.60 2.55 2.75 7.8 17.0 0.175 0.04 50.0 0.6 31/10/14 3.00 AirAsia 101114 0.055 2.70 2.55 2.98 16.7 9.3 0.075 0.035 40.0 0.6 10/11/14 5.00 AirAsia 190115 0.11 2.48 2.55 2.92 14.5 5.8 0.115 0.09 100.0 0.8 19/01/15 4.00 AirAsia 270215 0.21 2.30 2.55 2.72 6.7 6.1 0.215 0.15 50.0 0.9 27/02/15 2.00 AirAsia X 230514 0.005 0.95 0.78 0.97 23.7 52.0 0.145 0.005 100.0 0.1 23/05/14 3.00 AirAsia X 230514 0.005 1.15 0.78 1.16 48.7 78.0 0.095 0.005 100.0 0.1 23/05/14 2.00 AirAsia X 230514 0.15 1.29 0.78 1.52 94.2 3.5 n.a. n.a. 100.0 0.1 23/05/14 1.50 AirAsia X 230514 0.005 1.53 0.78 1.54 96.8 156.0 0.07 0.005 100.0 0.1 23/05/14 1.00 AirAsia X 220714 0.005 1.20 0.78 1.22 55.8 52.0 0.075 0.005 40.0 0.3 22/07/14 3.00 AirAsia X 310714 0.005 1.13 0.78 1.14 46.2 78.0 0.12 0.005 50.0 0.3 31/07/14 2.00 AirAsia X 310714 0.005 1.25 0.78 1.26 61.5 78.0 0.075 0.005 50.0 0.3 31/07/14 2.00 AirAsia X 310714 0.005 1.50 0.78 1.51 93.6 78.0 0.055 0.005 50.0 0.3 31/07/14 2.00 AirAsia X 151214 0.03 1.00 0.78 1.06 35.9 13.0 0.10 0.02 40.0 0.7 15/12/14 2.00 AirAsia X 120115 0.105 0.75 0.78 0.91 16.3 5.0 0.11 0.09 100.0 0.8 12/01/15 1.50 AirAsia X 310315 0.105 0.80 0.78 0.91 16.0 7.4 0.12 0.09 50.0 1.0 31/03/15 1.00 Alam Maritim Resources 220814 0.085 1.33 1.41 1.54 9.4 6.6 0.20 0.075 100.0 0.4 22/08/14 2.50 Alam Maritim Resources 101114 0.065 1.50 1.41 1.70 20.2 7.2 0.125 0.055 40.0 0.6 10/11/14 3.00 Alam Maritim Resources 190115 0.055 1.88 1.41 2.05 45.0 8.5 0.11 0.055 100.0 0.8 19/01/15 3.00 Alam Maritim Resources 300115 0.06 1.60 1.41 1.75 24.1 9.4 0.125 0.06 50.0 0.8 30/01/15 2.50 Alliance Financial 300614 0.02 5.00 4.41 5.06 14.7 73.5 0.29 0.02 50.0 0.2 30/06/14 3.00 Allianz 100215 0.06 11.68 10.26 13.48 31.4 5.7 0.10 0.06 100.0 0.9 10/02/15 30.00 AMMB Holdings 300414 0.21 6.55 7.18 7.18 0.0 11.4 0.545 0.11 50.0 0.1 30/04/14 3.00 AMMB Holdings 300614 0.22 7.20 7.18 8.08 12.5 8.2 0.25 0.08 50.0 0.2 30/06/14 4.00 AMMB Holdings 080914 - Put Warrant 0.07 6.18 7.18 5.83 23.2 20.5 0.105 0.07 100.0 0.4 08/09/14 5.00 AMMB Holdings 080914 0.06 7.68 7.18 7.98 11.1 23.9 0.145 0.06 100.0 0.4 08/09/14 5.00 APM Automotive 190115 0.145 5.25 6.18 6.99 13.1 3.6 0.17 0.145 100.0 0.8 19/01/15 12.00 Astro 220814 0.11 3.00 3.20 3.33 4.1 9.7 0.11 0.105 100.0 0.4 22/08/14 3.00 Astro 060215 0.14 3.28 3.20 3.70 15.6 7.6 0.145 0.14 100.0 0.8 06/02/15 3.00 Astro 270215 0.205 3.00 3.20 3.41 6.6 7.8 0.205 0.205 50.0 0.9 27/02/15 2.00 Axiata 310714 0.045 6.60 6.67 6.78 1.6 37.1 0.165 0.025 50.0 0.3 31/07/14 4.00 Axiata 290914 0.08 6.20 6.67 6.84 2.5 10.4 0.125 0.08 100.0 0.5 29/09/14 8.00

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Axiata 060215 0.15 6.78 6.67 7.98 19.6 5.6 n.a. n.a. 100.0 0.8 06/02/15 8.00 BAT 300914 0.055 60.80 59.12 63.55 7.5 21.5 0.155 0.045 50.0 0.5 30/09/14 50.00 Berjaya Auto120115 0.11 1.80 1.84 2.08 12.8 6.7 0.135 0.11 100.0 0.8 12/01/15 2.50 Berjaya Auto 310315 0.105 2.00 1.84 2.32 25.8 5.8 0.105 0.105 50.0 1.0 31/03/15 3.00 Berjaya Corp 220714 0.03 0.60 0.53 0.63 18.9 17.7 0.10 0.025 40.0 0.3 22/07/14 1.00 Berjaya Corp 290814 0.04 0.57 0.53 0.60 13.2 17.7 0.11 0.035 50.0 0.4 29/08/14 0.75 Berjaya Corp 280115 0.075 0.48 0.53 0.59 11.8 4.7 0.10 0.07 100.0 0.8 28/01/15 1.50 Berjaya Corp 220115 0.15 0.55 0.53 0.70 32.1 3.5 n.a. n.a. 40.0 0.8 22/01/15 1.00 Berjaya Corp 300115 0.125 0.53 0.53 0.59 11.8 8.5 0.165 0.115 50.0 0.8 30/01/15 0.50 Berjaya Sports Toto 101114 0.125 4.00 3.97 4.75 19.6 5.3 0.125 0.10 40.0 0.6 10/11/14 6.00 Berjaya Sports Toto 300115 0.10 3.95 3.97 4.15 4.5 19.9 0.11 0.10 50.0 0.8 30/01/15 2.00 BIMB 300414 0.36 3.263 4.33 4.30 (0.7) 4.2 0.56 0.16 50.0 0.1 30/04/14 2.88 BIMB 090514 0.155 3.263 4.33 4.16 (4.0) 4.9 0.315 0.115 100.0 0.1 09/05/14 5.76 BIMB 310714 0.14 3.838 4.33 4.38 1.1 8.1 0.295 0.09 50.0 0.3 31/07/14 3.84 BIMB 280814 0.045 4.51 4.33 4.85 12.1 12.6 0.09 0.03 100.0 0.4 28/08/14 7.65 BIMB 311014 0.06 4.414 4.33 4.70 8.6 15.0 0.145 0.05 50.0 0.6 31/10/14 4.80 BIMB 100215 0.125 4.18 4.33 4.93 13.9 5.8 0.13 0.10 100.0 0.9 10/02/15 6.00 Boustead Holdings 310315 0.15 5.50 5.42 5.80 7.0 18.1 n.a. n.a. 50.0 1.0 31/03/15 2.00 Bumi Armada 300414 0.03 3.88 3.91 3.97 1.5 43.4 0.175 0.025 50.0 0.1 30/04/14 3.00 Bumi Armada 280814 0.06 3.98 3.91 4.34 11.0 10.9 0.10 0.04 100.0 0.4 28/08/14 6.00 Bumi Armada 230215 0.08 3.90 3.91 4.38 12.0 8.1 0.095 0.07 40.0 0.9 23/02/15 6.00 Bursa Malaysia 300514 0.02 7.808 7.55 7.89 4.5 96.7 0.20 0.015 50.0 0.2 30/05/14 3.90 Bursa Malaysia 221014 0.15 8.15 7.55 9.35 23.8 6.3 n.a. n.a. 100.0 0.6 22/10/14 8.00 Cahya Mata Sarawak 100714 0.69 5.10 9.80 9.93 1.3 2.0 0.69 0.105 100.0 0.3 18/07/14 7.00 Cahya Mata Sarawak 300914 0.885 4.50 9.80 9.81 0.1 1.8 1.04 0.18 50.0 0.5 30/09/14 6.00 Cahya Mata Sarawak 211114 0.225 7.45 9.80 10.15 3.6 3.6 0.35 0.11 100.0 0.6 21/11/14 12.00 Cahya Mata Sarawak 241014 0.56 5.00 9.80 9.48 (3.3) 2.2 0.56 0.135 40.0 0.6 24/10/14 8.00 Cahya Mata Sarawak 300115 0.42 7.30 9.80 10.24 4.5 3.3 0.61 0.11 50.0 0.8 30/01/15 7.00 Cahya Mata Sarawak 180315 0.245 7.88 9.80 10.82 10.4 3.3 0.355 0.155 100.0 1.0 18/03/15 12.00 CIMB Group 080914 - Put Warrant 0.085 6.08 7.15 5.57 28.4 14.0 0.135 0.085 100.0 0.4 08/09/14 6.00 CIMB Group 080914 0.085 7.58 7.15 8.09 13.1 14.0 0.18 0.075 100.0 0.4 08/09/14 6.00 CIMB Group 100914 0.08 7.20 7.15 7.84 9.7 11.2 0.18 0.015 40.0 0.4 10/09/14 8.00 Coastal Contracts 090315 0.17 4.18 5.05 5.54 9.7 3.7 0.185 0.11 100.0 0.9 09/03/15 8.00 Coastal Contracts 0310315 0.17 5.00 5.05 6.02 19.2 5.0 0.18 0.16 50.0 1.0 31/03/15 6.00 Datasonic Group 120115 0.425 3.72 4.47 6.27 40.3 1.8 0.625 0.155 100.0 0.8 12/01/15 6.00 Dayang 220414 0.48 2.12 3.75 3.72 (0.8) 2.3 0.525 0.12 100.0 0.1 22/04/14 3.33 Dayang 300414 0.995 1.80 3.75 3.79 1.1 1.9 1.00 0.24 50.0 0.1 30/04/14 2.00

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Dayang 220714 0.14 3.33 3.75 3.89 3.7 6.7 0.185 0.075 40.0 0.3 22/07/14 4.00 Dayang 280814 0.12 3.52 3.75 4.32 15.2 4.7 0.15 0.055 100.0 0.4 28/08/14 6.67 Dayang 290814 0.18 3.33 3.75 3.93 4.8 6.3 0.22 0.085 50.0 0.4 29/08/14 3.33 Dialog 300514 0.425 2.70 3.59 3.55 (1.1) 4.2 0.55 0.09 50.0 0.2 30/05/14 2.00 Dialog 031014 0.22 2.75 3.59 3.63 1.1 4.1 0.28 0.12 40.0 0.5 03/10/14 4.00 Dialog 221014 0.15 3.38 3.59 3.98 10.9 6.0 n.a. n.a. 100.0 0.6 22/10/14 4.00 Dialog 190115 0.16 3.08 3.59 3.88 8.1 4.5 0.195 0.135 100.0 0.8 19/01/15 5.00 Dialog 300115 0.15 3.40 3.59 3.85 7.2 8.0 n.a. n.a. 50.0 0.8 30/01/15 3.00 DiGi 220814 0.115 4.78 5.39 5.36 (0.6) 9.4 0.115 0.095 100.0 0.4 22/08/14 5.00 DiGi 300914 0.235 4.65 5.39 5.36 (0.6) 7.6 0.26 0.085 50.0 0.5 30/09/14 3.00 DiGi 031014 0.18 4.70 5.39 5.78 7.2 5.0 0.18 0.15 40.0 0.5 03/10/14 6.00 DiGi 060215 0.14 5.08 5.39 5.92 9.8 6.4 0.16 0.115 100.0 0.8 06/02/15 6.00 DRB-Hicom 090514 0.035 2.40 2.47 2.54 2.8 17.6 0.19 0.035 100.0 0.1 09/05/14 4.00 DRB-Hicom 310714 0.03 2.70 2.47 2.79 13.0 27.4 0.17 0.025 50.0 0.3 31/07/14 3.00 DRB-Hicom 100914 0.06 2.50 2.47 2.74 10.9 10.3 0.155 0.055 40.0 0.4 10/09/14 4.00 DRB-Hicom 221014 0.075 2.50 2.47 2.80 13.4 8.2 0.075 0.075 100.0 0.6 22/10/14 4.00 DRB-Hicom 181114 0.07 2.48 2.47 2.76 11.7 8.8 0.16 0.05 100.0 0.6 18/11/14 4.00 DRB-Hicom 151214 0.06 2.70 2.47 2.94 19.0 10.3 0.105 0.06 40.0 0.7 15/12/14 4.00 DRB-Hicom 190115 0.085 2.60 2.47 3.03 22.5 5.8 0.135 0.085 100.0 0.8 19/01/15 5.00 E&O 300414 0.23 1.65 2.12 2.11 (0.5) 4.6 0.33 0.14 50.0 0.1 30/04/14 2.00 E&O 300614 0.055 2.10 2.12 2.27 6.8 12.8 0.135 0.035 50.0 0.2 30/06/14 3.00 E&O 080914 - Put Warrant 0.06 1.58 2.12 1.40 51.4 11.8 0.09 0.06 100.0 0.4 08/09/14 3.00 E&O 080914 0.115 1.98 2.12 2.33 9.7 6.1 0.155 0.07 100.0 0.4 08/09/14 3.00 E&O 031014 0.09 2.00 2.12 2.36 11.3 5.9 0.11 0.085 40.0 0.5 03/10/14 4.00 Felda Global Ventures 300614 0.085 4.50 4.65 4.93 5.9 10.9 0.12 0.06 50.0 0.2 30/06/14 5.00 Felda Global Ventures 300914 0.18 4.25 4.65 4.79 3.0 8.6 0.20 0.12 50.0 0.5 30/09/14 3.00 Felda Global Ventures 280115 0.085 4.88 4.65 5.39 15.9 9.1 0.09 0.085 100.0 0.8 28/01/15 6.00 Gamuda 300514 0.035 4.80 4.71 4.94 4.9 33.6 0.17 0.015 50.0 0.2 30/05/14 4.00 Gamuda 290914 0.085 4.46 4.71 4.97 5.5 9.2 0.12 0.06 100.0 0.5 29/09/14 6.00 Gamuda 281114 0.095 4.88 4.71 5.45 15.7 8.3 0.125 0.075 100.0 0.7 28/11/14 6.00 Gamuda 180315 0.11 4.38 4.71 5.26 11.7 5.4 0.11 0.10 100.0 1.0 18/03/15 8.00 Gamuda 300315 0.15 4.60 4.71 5.35 13.6 6.3 n.a. n.a. 100.0 1.0 30/03/15 5.00 Gas Malaysia 310714 0.155 3.20 3.72 3.67 (1.5) 8.0 0.345 0.12 50.0 0.3 31/07/14 3.00 Gas Malaysia 181114 0.095 4.08 3.72 4.56 22.4 7.8 0.11 0.095 100.0 0.6 18/11/14 5.00 Gas Malaysia 280115 0.15 3.78 3.72 4.38 17.7 6.2 n.a. n.a. 100.0 0.8 28/01/15 4.00 Gas Malaysia 300115 0.05 4.00 3.72 4.15 11.6 24.8 0.07 0.045 50.0 0.8 30/01/15 3.00 Genting Bhd 300514 0.045 10.13 10.0 10.48 4.8 28.8 0.13 0.03 50.0 0.2 30/05/14 7.72

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Genting Bhd 180714 0.105 9.60 10.0 10.44 4.4 11.9 0.12 0.105 100.0 0.3 18/07/14 8.00 Genting Bhd 300614 0.125 10.13 10.0 11.63 16.3 6.7 0.145 0.125 50.0 0.2 30/06/14 12.00 Genting Bhd 280115 0.125 10.18 10.0 11.68 16.8 6.7 0.125 0.125 100.0 0.8 28/01/15 12.00 Genting Bhd 280115 0.115 10.00 10.0 11.15 11.5 8.7 0.115 0.105 40.0 0.9 23/02/15 10.00 Genting Malaysia 300414 0.14 3.80 4.20 4.22 0.5 10.0 0.295 0.125 50.0 0.1 30/04/14 3.00 Genting Malaysia 031014 0.08 4.00 4.20 4.56 8.6 7.5 0.12 0.08 40.0 0.5 03/10/14 7.00 Genting Malaysia 311014 0.085 4.20 4.20 4.54 8.1 12.4 0.145 0.07 50.0 0.6 31/10/14 4.00 Genting Malaysia 280115 0.15 4.48 4.20 5.38 28.1 4.7 n.a. n.a. 100.0 0.8 28/01/15 6.00 Genting Plantations 280115 0.085 10.48 10.80 12.52 15.9 5.3 0.10 0.085 100.0 0.8 28/01/15 24.00 Goldis 180315 0.15 2.18 2.04 2.63 28.9 4.5 n.a. n.a. 100.0 1.0 18/03/15 3.00 Hap Seng Consolidated 300614 0.565 1.88 3.01 3.01 0.0 2.7 0.565 0.095 50.0 0.2 30/06/14 2.00 Hap Seng Consolidated 311014 0.46 2.30 3.01 3.22 7.0 3.3 0.475 0.16 50.0 0.6 31/10/14 2.00 Hap Seng Consolidated 270215 0.165 2.80 3.01 3.13 4.0 9.1 0.19 0.115 50.0 0.9 27/02/15 2.00 Hartalega 300414 0.54 5.10 6.85 7.26 6.0 3.2 0.635 0.19 50.0 0.1 30/04/14 4.00 Hartalega 300914 0.045 7.00 6.85 7.32 6.8 21.7 0.17 0.035 50.0 0.5 30/09/14 7.00 Hartalega 031014 0.11 7.00 6.85 7.99 16.6 6.9 0.16 0.105 40.0 0.5 03/10/14 9.00 Hartalega 280115 0.15 7.48 6.85 8.98 31.1 4.6 n.a. n.a. 100.0 0.8 28/01/15 10.00 Hock Seng Lee 221014 0.15 1.81 1.76 2.19 24.1 4.7 n.a. n.a. 100.0 0.6 22/10/14 2.50 Hong Leong Bank 310714 0.105 13.70 14.14 14.54 2.8 16.8 0.175 0.09 50.0 0.3 31/07/14 8.00 Hong Leong Bank 151214 0.075 14.00 14.14 15.50 9.6 9.4 0.15 0.045 40.0 0.7 15/12/14 20.00 IGB Corp 300914 0.145 2.55 2.71 2.84 4.8 9.3 0.165 0.12 50.0 9.6 15/11/23 2.00 IHH Healthcare 300614 0.05 3.90 3.85 4.05 5.2 25.7 0.26 0.02 50.0 0.2 30/06/14 3.00 IJM Corp 300414 0.145 5.60 6.14 6.18 0.7 10.6 0.17 0.09 50.0 0.1 30/04/14 4.00 IJM Corp 281114 0.115 6.38 6.14 6.96 13.3 10.7 0.135 0.095 100.0 0.7 28/11/14 5.00 IJM Corp 180315 0.15 5.58 6.14 6.78 10.4 5.1 0.15 0.145 100.0 1.0 18/03/15 8.00 IJM Land 310714 0.11 2.60 2.96 2.93 (1.0) 9.0 0.215 0.04 50.0 0.3 31/07/14 3.00 IJM Land 300315 0.17 2.48 2.96 3.16 6.8 4.4 0.17 0.135 100.0 1.0 30/03/15 4.00 IOI Corp 300614 0.06 4.95 4.80 5.26 9.6 15.6 0.145 0.015 50.0 0.2 30/06/14 5.12 IOI Corp 281114 0.13 4.61 4.80 5.06 5.3 10.8 0.22 0.045 50.0 0.7 28/11/14 3.42 IOI Corp 120115 0.15 4.60 4.80 5.50 14.6 5.3 n.a. n.a. 100.0 0.8 12/01/15 6.00 IOI Corp 270215 0.265 4.20 4.80 5.00 4.1 6.0 0.265 0.20 50.0 0.9 27/02/15 3.00 IOI Properties 211114 0.065 2.90 2.66 3.16 18.8 10.2 0.08 0.065 100.0 0.6 21/11/14 4.00 IOI Properties 300115 0.05 3.10 2.66 3.25 22.2 17.7 0.09 0.045 50.0 0.8 30/01/15 3.00 IOI Properties 300115 0.155 2.50 2.66 2.97 11.5 5.7 0.17 0.125 50.0 0.8 30/01/15 3.00 IOI Properties 300115 0.17 2.30 2.66 2.81 5.6 5.2 0.255 0.155 50.0 0.8 30/01/15 3.00 IOI Properties 230215 0.115 2.45 2.66 2.91 9.4 5.8 0.115 0.10 40.0 0.9 23/02/15 4.00 Keck Seng 211114 0.135 6.80 6.97 7.88 13.1 6.5 0.16 0.09 100.0 0.6 21/11/14 8.00

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Keck Seng 281114 0.07 7.65 6.97 8.70 24.8 6.6 0.125 0.055 100.0 0.7 28/11/14 15.00 Kian Joo 021013 0.09 3.18 3.29 3.72 13.1 6.1 0.19 0.075 100.0 0.5 03/10/14 6.00 Kossan Rubber 220414 0.53 2.29 4.26 4.41 3.5 2.0 0.53 0.07 100.0 0.1 22/04/14 4.00 Kossan Rubber 220814 0.16 3.375 4.26 4.26 (0.1) 4.8 0.22 0.085 100.0 0.4 22/08/14 5.50 Kossan Rubber 080914 - Put Warrant 0.02 2.575 4.26 2.51 70.1 60.9 0.09 0.02 100.0 0.4 08/09/14 3.50 Kossan Rubber 080914 0.335 3.14 4.26 4.31 1.2 3.6 0.43 0.14 100.0 0.4 08/09/14 3.50 Kossan Rubber 280115 0.13 4.08 4.26 4.99 17.1 4.7 0.255 0.12 100.0 0.8 28/01/15 7.00 KPJ Healthcare 310714 0.005 4.123 2.99 4.14 38.4 185.6 0.255 0.005 50.0 0.3 31/07/14 3.22 KPJ Healthcare 281114 0.015 3.93 2.99 3.98 33.1 61.9 0.115 0.015 50.0 0.7 28/11/14 3.22 Kuala Lumpur Kepong 300514 0.205 21.00 24.20 24.08 (0.5) 7.9 0.29 0.10 50.0 0.2 30/05/14 15.00 Kuala Lumpur Kepong 280115 0.10 24.88 24.20 27.88 15.2 8.1 0.10 0.095 100.0 0.8 28/01/15 30.00 Kulim 290914 0.075 3.51 3.36 3.89 15.6 9.0 0.09 0.06 100.0 0.5 29/09/14 5.00 Kulim 311014 0.135 3.30 3.36 3.64 8.3 10.0 0.215 0.095 50.0 0.6 31/10/14 2.50 Kulim 280115 0.09 3.30 3.36 3.66 8.9 9.3 0.09 0.09 100.0 0.8 28/01/15 4.00 Lafarge Malaysia Cement 310315 0.085 9.50 9.04 10.35 14.5 10.6 0.085 0.085 50.0 1.0 31/03/15 10.00 LPI Capital 100215 0.15 17.38 16.60 23.38 40.8 2.8 n.a. n.a. 100.0 0.9 10/02/15 40.00 Magnum 310714 0.005 3.297 2.99 3.31 10.7 227.9 0.185 0.005 50.0 0.3 31/07/14 2.62 Magnum 100914 0.105 3.00 2.99 3.42 14.4 7.1 0.175 0.10 40.0 0.4 10/09/14 4.00 Magnum 311014 0.035 3.20 2.99 3.29 9.9 34.2 0.085 0.035 50.0 0.6 31/10/14 2.50 Magnum 280115 0.115 2.88 2.99 3.46 15.6 5.2 0.115 0.115 100.0 0.8 28/01/15 5.00 Mah Sing 300414 0.105 2.00 2.18 2.18 (0.2) 12.5 0.395 0.075 50.0 0.1 30/04/14 1.67 Mah Sing 300614 0.01 2.63 2.18 2.65 21.6 87.2 0.145 0.01 50.0 0.2 30/06/14 2.50 Mah Sing 211114 0.125 2.15 2.18 2.40 10.1 8.7 0.14 0.125 100.0 0.6 21/11/14 2.00 Mah Sing 281114 0.05 2.30 2.18 2.45 12.4 14.5 0.15 0.045 50.0 0.7 28/11/14 3.00 Mah Sing 281114 0.085 2.28 2.18 2.54 16.3 8.5 0.105 0.085 100.0 0.7 28/11/14 3.00 Mah Sing 300315 0.155 1.98 2.18 2.45 12.2 4.7 0.155 0.145 100.0 1.0 30/03/15 3.00 Malaysia Airports 290814 0.255 6.80 8.00 8.08 0.9 6.3 0.585 0.12 50.0 0.4 29/08/14 5.00 Malaysia Airports 311014 0.12 7.77 8.00 8.61 7.6 9.5 0.265 0.12 50.0 0.6 31/10/14 7.00 MAS 220714 0.01 0.300 0.21 0.31 46.4 28.0 0.175 0.01 40.0 0.3 22/07/14 0.75 MAS 280814 0.005 0.380 0.21 0.38 82.5 63.0 0.085 0.005 100.0 0.4 28/08/14 0.67 MAS 290814 0.02 0.310 0.21 0.32 52.4 21.0 0.18 0.01 50.0 0.4 29/08/14 0.50 MAS 101114 0.005 0.350 0.21 0.35 68.5 56.0 0.075 0.005 40.0 0.6 10/11/14 0.75 MAS 101114 - Put Warrant 0.20 0.35 0.21 0.20 5.0 1.4 0.205 0.13 40.0 0.6 10/11/14 0.75 MAS 120115 0.15 0.200 0.21 0.35 66.7 1.4 n.a. n.a. 100.0 0.8 12/01/15 1.00 MAS 190115 0.025 0.320 0.21 0.33 58.3 16.8 0.19 0.025 100.0 0.8 19/01/15 0.50 Maxis 300614 0.095 6.65 6.96 6.94 (0.4) 24.4 0.24 0.08 50.0 0.2 30/06/14 3.00 Maxis 290914 0.15 6.40 6.96 7.60 9.2 5.8 n.a. n.a. 100.0 0.5 29/09/14 8.00

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Maxis 281114 0.06 7.10 6.96 7.28 4.6 38.7 0.11 0.06 50.0 0.7 28/11/14 3.00 Maybank 300614 0.01 10.50 9.68 10.55 9.0 193.6 0.14 0.01 50.0 0.2 30/06/14 5.00 Maybank 220714 0.03 10.50 9.68 10.74 11.0 40.3 0.185 0.03 40.0 0.3 22/07/14 8.00 Maybank 290914 0.11 9.05 9.68 10.04 3.7 9.8 0.15 0.105 100.0 0.5 29/09/14 9.00 Maybank 241014 - Put Warrant 0.12 9.50 9.68 10.94 13.0 6.7 0.125 0.12 40.0 0.6 24/10/14 12.00 Maybank 241014 0.055 9.50 9.68 10.16 5.0 14.7 0.095 0.045 40.0 0.6 24/10/14 12.00 Maybank 270215 0.095 9.80 9.68 10.18 5.2 25.5 0.125 0.095 50.0 0.9 27/02/15 4.00 Maybulk 140714 0.135 1.90 2.05 2.17 5.9 7.6 0.205 0.08 40.0 0.3 14/07/14 2.00 Maybulk 451214 0.17 1.70 2.05 2.21 7.8 4.0 0.215 0.115 40.0 0.7 15/12/14 3.00 Maybulk 090315 0.155 2.08 2.05 2.39 16.6 6.6 0.155 0.155 100.0 0.9 09/03/15 2.00 Maybulk 310315 0.15 2.10 2.05 2.40 17.1 6.8 n.a. n.a. 50.0 1.0 31/03/15 2.00 MBM Resources 180814 0.15 4.28 3.25 5.48 68.6 2.7 n.a. n.a. 100.0 0.4 18/08/14 8.00 MBM Resources 300115 0.15 3.20 3.25 3.65 12.3 7.2 n.a. n.a. 50.0 0.8 30/01/15 3.00 MBM Resources 230215 0.15 3.50 3.25 4.10 26.2 5.4 n.a. n.a. 40.0 0.9 23/02/15 4.00 MBSB 300614 0.015 2.61 2.18 2.65 21.7 55.6 0.18 0.01 50.0 0.2 30/06/14 2.61 MBSB 180714 0.025 2.57 2.18 2.64 20.9 33.4 0.165 0.025 100.0 0.3 18/07/14 2.61 MBSB 280814 0.045 2.86 2.18 3.01 38.3 13.9 0.15 0.03 100.0 0.4 18/08/14 3.48 MBSB 221014 0.125 2.00 2.18 2.38 8.9 5.8 0.125 0.125 100.0 0.6 22/10/14 3.00 MBSB 300115 0.08 2.20 2.18 2.40 10.1 10.9 0.11 0.08 50.0 0.8 30/01/15 2.50 Media Prima 300514 0.15 3.00 2.36 3.30 39.8 7.9 n.a. n.a. 50.0 0.2 30/05/14 2.00 MISC 140714 0.265 5.20 6.90 6.79 (1.6) 4.3 0.33 0.115 40.0 0.3 14/07/14 6.00 MISC 290814 0.25 5.50 6.90 7.00 1.4 4.6 0.285 0.07 50.0 0.4 29/08/14 6.00 MISC 060215 0.265 5.38 6.90 7.24 4.9 3.7 0.275 0.165 100.0 0.8 06/02/15 7.00 MMC Corp 211104 0.10 2.83 2.82 3.23 14.5 7.1 0.11 0.10 100.0 0.6 21/11/14 4.00 MMC Corp 281114 0.11 2.78 2.82 3.22 14.2 6.4 0.195 0.11 100.0 0.7 28/11/14 4.00 MMC Corp 280115 0.15 3.18 2.82 4.08 44.7 3.1 n.a. n.a. 100.0 0.8 28/01/15 6.00 MMC Corp 300115 0.095 2.90 2.82 3.19 12.9 9.9 0.145 0.095 50.0 0.8 30/01/15 3.00 MMHE 300414 0.01 3.80 3.76 3.83 1.9 125.3 0.29 0.01 50.0 0.1 30/04/14 3.00 MMHE 300614 0.15 3.90 3.76 4.65 23.7 5.0 n.a. n.a. 50.0 0.2 30/06/14 5.00 MMHE 180714 0.15 3.65 3.76 4.10 9.0 8.4 n.a. n.a. 100.0 0.3 18/07/14 3.00 MMHE 280814 0.04 4.38 3.76 4.54 20.7 23.5 0.085 0.035 100.0 0.4 28/08/14 4.00 MMHE 100914 0.115 3.50 3.76 3.96 5.3 8.2 0.215 0.105 40.0 0.4 10/09/14 4.00 MMHE 090315 0.095 3.48 3.76 4.24 12.8 4.9 0.105 0.095 100.0 0.9 09/03/15 8.00 MPHB Capital 221014 0.16 1.75 1.82 1.99 9.3 7.6 0.20 0.14 100.0 0.6 22/10/14 1.50 MPHB Capital 300115 0.185 1.70 1.82 1.98 8.7 6.6 0.24 0.12 50.0 0.8 30/01/15 1.50 MRCB 090514 0.15 1.18 1.64 1.63 (0.6) 3.6 0.245 0.05 100.0 0.1 09/05/14 3.00 MRCB 300514 0.17 1.33 1.64 1.67 1.8 4.8 0.30 0.05 50.0 0.2 30/05/14 2.00

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MRCB 031014 0.09 1.60 1.64 1.87 14.0 6.1 0.105 0.055 40.0 0.5 03/10/14 3.00 MRCB 211114 0.16 1.45 1.64 1.77 7.9 5.1 0.175 0.135 100.0 0.6 21/11/14 2.00 MRCB 270215 0.15 1.50 1.64 1.80 9.8 5.5 0.15 0.12 50.0 0.9 27/02/15 2.00 MRCB 180315 0.15 1.68 1.64 2.13 29.9 3.6 n.a. n.a. 100.0 1.0 18/03/15 3.00 MSM Malaysia 300115 0.03 5.00 4.71 5.12 8.7 39.3 0.105 0.03 50.0 0.8 30/01/15 4.00 MSM Malaysia 060215 0.07 4.88 4.71 5.44 15.5 8.4 0.095 0.07 100.0 0.8 06/02/15 8.00 Mudajaya 300514 0.185 2.40 2.70 2.77 2.6 7.3 0.355 0.14 50.0 0.2 30/05/14 2.00 Mudajaya 031014 - Put Warrant 0.04 2.08 2.70 1.92 40.6 16.9 0.08 0.04 100.0 0.5 03/10/14 4.00 Mudajaya 031014 0.155 2.58 2.70 3.20 18.5 4.4 0.175 0.155 100.0 0.5 03/10/14 4.00 Mudajaya 241014 0.09 2.65 2.70 3.01 11.5 7.5 0.145 0.085 40.0 0.6 24/10/14 4.00 Mudajaya 270215 0.17 2.60 2.70 2.94 8.9 7.9 0.205 0.155 50.0 0.9 27/02/15 2.00 My E.G. Services 190115 0.11 2.68 2.83 3.34 18.0 4.3 0.165 0.08 100.0 0.8 19/01/15 6.00 My E.G. Services 300115 0.16 2.60 2.83 3.24 14.5 4.4 0.235 0.155 50.0 0.8 30/01/15 4.00 My E.G. Services 230215 0.10 3.00 2.83 3.50 23.7 5.7 0.15 0.095 40.0 0.9 23/02/15 5.00 NCB Holdings 090315 0.09 3.48 3.18 3.93 23.6 7.1 0.125 0.09 100.0 0.9 09/03/15 5.00 Padini 290814 0.115 1.80 1.91 2.03 6.3 8.3 0.14 0.045 50.0 0.4 29/08/14 2.00 Parkson 300414 0.005 4.50 3.00 4.52 50.5 200.0 0.115 0.005 50.0 0.3 30/07/14 3.00 Parkson 300914 0.025 3.50 3.00 3.58 19.2 40.0 0.17 0.02 50.0 0.5 30/09/14 3.00 Parkson 211114 0.15 3.13 3.00 3.43 14.3 10.0 n.a. n.a. 100.0 0.6 21/11/14 2.00 Parkson 300115 0.12 2.80 3.00 3.04 1.3 12.5 0.125 0.115 50.0 0.8 30/01/15 2.00 Perdana Petroleum 090315 0.115 1.80 1.91 2.26 18.3 4.2 0.14 0.105 100.0 0.9 09/03/15 4.00 Perdana Petroleum 230215 0.10 1.80 1.91 2.20 15.2 4.8 0.12 0.09 40.0 0.9 23/02/15 4.00 Perdana Petroleum 310315 0.075 2.00 1.91 2.30 20.4 6.4 0.085 0.075 50.0 1.0 31/03/15 4.00 Perisai Petroleum 180714 0.115 1.40 1.54 1.63 5.8 6.7 0.205 0.095 100.0 0.3 18/07/14 2.00 Perisai Petroleum 310714 0.065 1.55 1.54 1.68 9.1 11.8 0.20 0.06 50.0 0.3 31/07/14 2.00 Perisai Petroleum 100914 0.185 1.30 1.54 1.67 8.4 4.2 0.27 0.125 40.0 0.4 10/09/14 2.00 Perisai Petroleum 031014 0.03 1.88 1.54 1.97 27.9 17.1 0.07 0.025 100.0 0.5 03/10/14 3.00 Perisai Petroleum 090315 0.10 1.78 1.54 1.98 28.6 7.7 0.105 0.10 100.0 0.9 09/03/15 2.00 Petronas Chemicals 220414 0.145 5.88 6.91 7.04 1.9 6.0 0.145 0.135 100.0 0.1 22/04/14 8.00 Petronas Chemicals 190414 - Put Warrant 0.055 5.88 6.91 5.44 27.0 15.7 0.13 0.055 100.0 0.1 22/04/14 8.00 Petronas Chemicals 310714 0.075 6.60 6.91 6.90 (0.1) 23.0 0.195 0.07 50.0 0.3 31/07/14 4.00 Petronas Chemicals 280814 0.15 6.88 6.91 7.78 12.6 7.7 0.165 0.145 100.0 0.4 28/08/14 6.00 Petronas Chemicals 031014 0.11 6.50 6.91 7.16 3.6 10.5 0.145 0.105 40.0 0.5 03/10/14 6.00 Petronas Chemicals 280115 0.15 6.78 6.91 8.28 19.8 4.6 n.a. n.a. 100.0 0.8 28/01/15 10.00 Petronas Dagangan 080914 0.15 29.88 30.70 31.68 3.2 17.1 n.a. n.a. 100.0 0.4 08/09/14 12.00 Petronas Dagangan 080914 - Put Warrant 0.03 20.88 30.70 20.28 51.4 51.2 0.095 0.03 100.0 0.4 08/09/14 20.00 Petronas Dagangan 300914 0.23 26.50 30.70 31.10 1.3 6.7 0.29 0.20 50.0 0.5 30/09/14 20.00

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Petronas Dagangan 300115 0.115 30.00 30.70 32.88 7.1 10.7 0.12 0.115 50.0 0.8 30/01/15 25.00 Petronas Dagangan 090315 0.15 32.00 30.70 35.75 16.4 8.2 n.a. n.a. 100.0 0.9 09/03/15 25.00 Petronas Gas 080914 0.31 18.88 23.80 25.08 5.4 3.8 0.31 0.185 100.0 0.4 08/09/14 20.00 Petronas Gas 080914 - Put Warrant 0.035 17.40 23.80 16.70 42.5 34.0 0.105 0.035 100.0 0.4 08/09/14 20.00 Petronas Gas 300914 0.20 21.00 23.80 24.00 0.8 7.9 0.29 0.175 50.0 0.5 30/09/14 15.00 POS Malaysia 300414 0.19 4.35 4.77 4.92 3.1 8.4 0.56 0.075 50.0 0.1 30/04/14 3.00 POS Malaysia 300914 0.035 5.30 4.77 5.44 14.0 34.1 0.175 0.035 50.0 0.5 30/09/14 4.00 POS Malaysia 031014 0.02 6.18 4.77 6.30 32.1 39.8 0.12 0.015 100.0 0.5 03/10/14 6.00 POS Malaysia 031014 - Put Warrant 0.065 4.18 4.77 3.79 25.9 12.2 0.095 0.04 100.0 0.5 03/10/14 6.00 PPB Group 300514 0.385 12.60 16.62 16.45 (1.0) 4.3 0.405 0.14 50.0 0.2 30/05/14 10.00 PPB Group 310714 0.145 14.20 16.62 15.65 (5.8) 11.5 0.145 0.14 50.0 0.3 31/07/14 10.00 Public Bank 300614 0.38 17.00 19.20 19.66 2.4 7.2 0.45 0.085 50.0 0.2 30/06/14 7.00 Public Bank 290914 0.14 17.50 19.20 19.60 2.1 9.1 0.145 0.135 100.0 0.5 29/09/14 15.00 Public Bank 281114 0.145 18.00 19.20 19.45 1.3 13.2 0.20 0.085 50.0 0.7 28/11/14 10.00 Puncak Niaga 161214 0.08 3.10 2.85 3.58 25.6 5.9 0.155 0.05 40.0 0.7 15/12/14 6.00 Puncak Niaga 180315 0.085 3.18 2.85 3.69 29.5 5.6 0.155 0.08 100.0 1.0 18/03/15 6.00 QL Resources 311014 0.265 3.80 3.24 4.38 35.1 5.6 0.32 0.135 50.0 0.6 31/10/14 2.18 RHB Capital 220414 0.04 7.98 8.42 8.46 0.5 17.5 0.12 0.02 100.0 0.1 22/04/14 12.00 RHB Capital 300614 0.03 8.70 8.42 8.85 5.1 56.1 0.13 0.01 50.0 0.2 30/06/14 5.00 RHB Capital 220814 0.135 7.45 8.42 8.53 1.3 7.8 0.14 0.07 100.0 0.4 22/08/14 8.00 RHB Capital 031014 0.185 7.18 8.42 8.66 2.9 5.7 0.185 0.12 100.0 0.5 03/10/14 8.00 RHB Capital 270215 0.23 7.50 8.42 8.65 2.7 7.3 0.235 0.215 50.0 0.9 27/02/15 5.00 Rimbunan Sawit 290914 0.105 0.73 0.82 0.89 8.2 5.2 0.12 0.08 100.0 0.5 29/09/14 1.50 Rimbunan Sawit 311014 0.095 0.78 0.82 0.88 6.7 8.6 0.16 0.05 50.0 0.6 31/10/14 1.00 Rimbunan Sawit 151214 0.105 0.80 0.82 0.91 10.4 7.8 0.12 0.08 40.0 0.7 15/12/14 1.00 SapuraKencana Petroleum 300514 0.255 3.70 4.50 4.47 (0.8) 5.9 0.44 0.09 50.0 0.2 30/05/14 3.00 SapuraKencana Petroleum 140714 0.135 4.00 4.50 4.68 3.9 6.7 0.23 0.06 40.0 0.3 14/07/14 5.00 SapuraKencana Petroleum 100914 0.295 3.55 4.50 4.73 5.1 3.8 0.405 0.20 40.0 0.4 10/09/14 4.00 SapuraKencana Petroleum 221014 0.075 4.80 4.50 5.18 15.0 12.0 0.105 0.05 100.0 0.6 22/10/14 5.00 SapuraKencana Petroleum 241014 0.175 3.80 4.50 4.85 7.8 4.3 0.25 0.13 40.0 0.6 24/10/14 6.00 SapuraKencana Petroleum 241014 - Put Warrant 0.07 3.80 4.50 3.38 33.1 10.7 0.10 0.06 40.0 0.6 24/10/14 6.00 SapuraKencana Petroleum 190115 0.085 4.68 4.50 5.36 19.1 6.6 0.12 0.07 100.0 0.8 19/01/15 8.00 SapuraKencana Petroleum 220115 0.105 4.50 4.50 5.34 18.7 5.4 0.125 0.075 40.0 0.8 22/01/15 8.00 SapuraKencana Petroleum 300115 0.07 5.00 4.50 5.35 18.9 12.9 0.12 0.04 50.0 0.8 30/01/15 5.00 Scientex 230215 0.14 5.00 5.66 6.40 13.1 4.0 0.17 0.14 40.0 0.9 23/02/15 10.00 Scomi Energy 120115 0.13 1.00 1.01 1.26 24.8 3.9 0.135 0.13 100.0 0.8 12/01/15 2.00 Selangor Properties 300315 0.14 5.08 5.30 6.34 19.6 4.2 0.14 0.14 100.0 1.0 30/03/15 9.00

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Sime Darby 300514 0.03 9.40 9.31 9.52 2.3 77.6 0.28 0.02 50.0 0.2 30/05/14 4.00 Sime Darby 220814 0.06 9.60 9.31 10.08 8.3 19.4 0.105 0.06 100.0 0.4 22/08/14 8.00 Sime Darby 151214 0.055 9.50 9.31 10.27 10.3 12.1 0.08 0.045 40.0 0.7 15/12/14 14.00 Sime Darby 270215 0.13 8.80 9.31 9.45 1.5 14.3 0.13 0.105 50.0 0.9 27/02/15 5.00 SP Setia 300614 0.005 3.70 2.92 3.72 27.2 194.7 0.135 0.005 50.0 0.2 30/06/14 3.00 SP Setia 270215 0.205 2.75 2.92 3.16 8.2 7.1 0.24 0.185 50.0 0.9 27/02/15 2.00 Star 310714 0.01 2.88 2.37 2.90 22.4 118.5 0.13 0.005 50.0 0.3 31/07/14 2.00 Star 311014 0.13 2.40 2.37 2.60 9.5 12.2 0.19 0.05 50.0 0.6 31/10/14 1.50 Sunway Bhd 300514 0.005 3.258 3.03 3.28 8.2 151.5 0.19 0.005 50.0 0.2 30/05/14 4.00 Sunway Bhd 281114 0.15 3.00 3.03 3.45 13.9 6.7 0.15 0.10 100.0 0.7 28/11/14 3.00 Sunway Bhd 300315 0.17 2.68 3.03 3.36 10.9 4.5 0.175 0.15 100.0 1.0 30/03/15 4.00 Supermax 140714 0.24 1.90 2.60 2.62 0.8 3.6 0.405 0.16 40.0 0.3 14/07/14 3.00 Supermax 180714 0.225 2.55 2.60 3.00 15.4 5.8 0.305 0.185 100.0 0.3 18/07/14 2.00 Supermax 080914 0.115 2.58 2.60 2.81 8.1 11.3 0.325 0.10 100.0 0.4 08/09/14 2.00 Supermax 080914 - Put Warrant 0.035 1.68 2.60 1.61 61.5 37.1 0.09 0.02 100.0 0.4 08/09/14 2.00 Supermax 300914 0.125 2.40 2.60 2.78 6.7 6.9 0.26 0.105 50.0 0.5 30/09/14 3.00 Supermax 301014 0.08 2.60 2.60 2.92 12.3 8.1 0.185 0.065 40.0 0.5 03/10/14 4.00 Supermax 280115 0.075 3.08 2.60 3.46 32.9 6.9 0.225 0.07 100.0 0.8 28/01/15 5.00 Supermax 300115 0.07 2.95 2.60 3.16 21.5 12.4 0.165 0.07 50.0 0.8 30/01/15 3.00 Takaful 100215 0.18 9.38 11.94 13.34 11.7 3.0 0.215 0.13 100.0 0.9 10/02/15 22.00 Tan Chong Motor 300614 0.01 6.60 5.53 6.66 20.4 92.2 0.125 0.01 50.0 0.2 30/06/14 6.00 Tan Chong Motor 180814 0.12 6.53 5.53 7.73 39.7 4.6 0.12 0.11 100.0 0.4 18/08/14 10.00 Tan Chong Motor 300115 0.13 5.75 5.53 6.40 15.7 8.5 0.13 0.13 50.0 0.8 30/01/15 5.00 Telekom Malaysia 300914 0.19 5.30 5.89 5.87 (0.3) 10.3 0.295 0.05 50.0 0.5 30/09/14 3.00 Telekom Malaysia 220115 0.12 5.50 5.89 6.22 5.6 8.2 0.165 0.065 40.0 0.8 22/01/15 6.00 Tenaga Nasional 300514 0.82 7.77 11.96 11.87 (0.8) 2.9 1.00 0.18 50.0 0.2 30/05/14 5.00 Tenaga Nasional 300614 0.24 9.50 11.96 12.38 3.5 4.2 0.25 0.12 50.0 0.2 30/06/14 12.00 Tenaga Nasional 290814 0.505 9.00 11.96 12.03 0.6 3.9 0.56 0.115 50.0 0.4 29/08/14 6.00 Tenaga Nasional 151214 0.13 10.50 11.96 12.58 5.2 5.8 0.155 0.10 40.0 0.7 15/12/14 16.00 Tenaga Nasional 300115 0.165 10.50 11.96 11.82 (1.2) 9.1 0.19 0.11 50.0 0.8 30/01/15 8.00 Tenaga Nasional 060215 0.095 11.88 11.96 13.59 13.6 7.0 0.105 0.075 100.0 0.8 06/02/15 18.00 TDM 221014 0.075 0.95 0.92 1.06 15.5 8.2 0.12 0.07 100.0 0.6 22/10/14 1.50 TIME dotCom 290814 0.055 3.80 3.85 4.08 5.8 14.0 0.135 0.035 50.0 0.4 29/08/14 5.00 Top Glove 300914 0.015 6.40 4.95 6.49 31.1 55.0 0.10 0.015 50.0 0.5 30/09/14 6.00 Top Glove 280115 0.07 5.78 4.95 6.27 26.7 10.1 0.125 0.05 100.0 0.8 28/01/15 7.00 Top Glove 270215 0.065 5.40 4.95 5.73 15.7 15.2 0.125 0.065 50.0 0.9 27/02/15 5.00

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Tropicana Corp 300614 0.015 1.85 1.57 1.88 19.7 52.3 0.155 0.005 50.0 0.2 30/06/14 2.00 Tropicana Corp 180714 0.02 1.75 1.57 1.79 14.0 39.3 0.095 0.01 100.0 0.3 18/07/14 2.00 Tropicana Corp 220714 0.02 2.00 1.57 2.04 29.9 39.3 0.16 0.005 40.0 0.3 22/07/14 2.00 Tropicana Corp 311014 0.11 1.48 1.57 1.65 4.8 9.5 0.19 0.03 50.0 0.6 31/10/14 1.50 Tropicana Corp 270215 0.375 1.20 1.57 1.58 0.3 4.2 0.445 0.16 50.0 0.9 27/02/15 1.00 Tropicana Corp 300315 0.205 1.28 1.57 1.69 7.6 3.8 0.23 0.17 100.0 1.0 30/03/15 2.00 TSH Resources 300115 0.16 2.90 3.16 3.38 7.0 6.6 0.22 0.08 50.0 0.8 30/01/15 3.00 TSH Resources 120115 0.15 3.20 3.16 3.95 25.0 4.2 n.a. n.a. 100.0 0.8 12/01/15 5.00 Tune Ins Holdings 310714 0.06 2.00 1.97 2.12 7.6 16.4 0.25 0.03 50.0 0.3 31/07/14 2.00 Tune Ins Holdings 031014 0.045 2.28 1.97 2.42 22.6 14.6 0.085 0.045 100.0 0.5 03/10/14 3.00 Tune Ins Holdings 270215 0.165 1.85 1.97 2.18 10.7 6.0 0.165 0.125 100.0 0.9 27/02/15 2.00 UEM Sunrise 090514 0.005 2.48 2.20 2.51 13.9 88.0 0.255 0.005 100.0 0.1 09/05/14 5.00 UEM Sunrise 140714 0.005 3.00 2.20 3.03 37.5 88.0 0.14 0.005 40.0 0.3 14/07/14 5.00 UEM Sunrise 310714 0.005 2.90 2.20 2.92 32.7 110.0 0.18 0.005 50.0 0.3 31/07/14 4.00 UEM Sunrise 180814 0.005 3.18 2.20 3.21 45.9 73.3 0.055 0.005 100.0 0.4 18/08/14 6.00 UEM Sunrise 100914 0.035 2.45 2.20 2.59 17.7 15.7 0.165 0.025 40.0 0.4 10/09/14 4.00 UEM Sunrise 290914 0.11 1.90 2.20 2.34 6.4 5.0 0.15 0.08 100.0 0.5 29/09/14 4.00 UEM Sunrise 220115 0.15 2.30 2.20 3.05 38.6 2.9 n.a. n.a. 40.0 0.8 22/01/15 5.00 UEM Sunrise 300115 0.085 2.30 2.20 2.56 16.1 8.6 0.105 0.08 50.0 0.8 30/01/15 3.00 UEM Sunrise 300315 0.115 2.08 2.20 2.54 15.5 4.8 0.115 0.115 100.0 1.0 30/03/15 4.00 UMW Holdings 300514 0.005 14.20 10.98 14.25 29.8 219.6 0.16 0.005 50.0 0.2 30/05/14 10.00 UMW Holdings 181114 0.06 12.28 10.98 13.18 20.0 12.2 0.16 0.06 100.0 0.6 18/11/14 15.00 UMW Holdings 220115 0.055 12.00 10.98 13.10 19.3 10.0 0.085 0.05 40.0 0.8 22/01/15 20.00 UMW Oil & Gas 180714 0.465 2.65 4.07 4.51 10.8 2.2 0.475 0.185 100.0 0.3 18/07/14 4.00 UMW Oil & Gas 180714 0.15 3.00 4.07 3.45 (15.2) 9.0 n.a. n.a. 100.0 0.3 18/07/14 3.00 UMW Oil & Gas 180714 0.215 2.85 4.07 3.71 (8.8) 4.7 0.215 0.18 100.0 0.3 18/07/14 4.00 UMW Oil & Gas 180714 0.30 2.53 4.07 4.03 (1.0) 2.7 0.40 0.17 100.0 0.3 18/07/14 5.00 UMW Oil & Gas 101114 0.315 3.00 4.07 4.26 4.7 3.2 0.43 0.135 40.0 0.6 10/11/14 4.00 UMW Oil & Gas 101114 0.305 2.70 4.07 4.23 3.8 2.7 0.385 0.145 40.0 0.6 10/11/14 5.00 UMW Oil & Gas 181114 0.19 3.38 4.07 4.33 6.4 4.3 0.25 0.11 100.0 0.6 18/11/14 5.00 UMW Oil & Gas 181114 0.285 2.88 4.07 4.31 5.8 2.9 0.285 0.155 100.0 0.6 18/11/14 5.00 UMW Oil & Gas 181114 0.15 2.68 4.07 3.43 (15.7) 5.4 n.a. n.a. 100.0 0.6 18/11/14 5.00 UMW Oil & Gas 281114 0.35 3.10 4.07 4.15 2.0 3.9 0.525 0.19 50.0 0.7 28/11/14 3.00 UMW Oil & Gas 281114 0.455 2.80 4.07 4.17 2.3 3.0 0.50 0.24 50.0 0.7 28/11/14 3.00 UMW Oil & Gas 281114 0.55 2.50 4.07 4.15 2.0 2.5 0.73 0.275 50.0 0.7 28/11/14 3.00 UMW Oil & Gas 280115 0.11 4.58 4.07 5.24 28.7 6.2 0.17 0.11 100.0 0.8 28/01/15 6.00

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UMW Oil & Gas 120115 0.095 4.20 4.07 4.87 19.5 6.1 0.095 0.095 100.0 0.8 12/01/15 7.00 UMW Oil & Gas 220115 0.10 4.00 4.07 4.70 15.5 5.8 0.16 0.10 40.0 0.8 22/01/15 7.00 UMW Oil & Gas 300115 0.12 4.10 4.07 4.58 12.5 8.5 0.23 0.12 50.0 0.8 30/01/15 4.00 UOA Development 300414 0.045 2.10 2.17 2.19 0.9 24.1 0.37 0.015 50.0 0.1 30/04/14 2.00 UOA Development 300614 0.005 2.70 2.17 2.72 25.1 144.7 0.13 0.005 50.0 0.2 30/06/14 3.00 UOA Development 300614 0.15 2.30 2.17 2.75 26.7 4.8 n.a. n.a. 50.0 0.2 30/06/14 3.00 UOA Development 180814 0.04 2.48 2.17 2.64 21.7 13.6 0.085 0.04 100.0 0.4 18/08/14 4.00 UOA Development 311014 0.045 2.30 2.17 2.41 11.2 19.3 0.08 0.02 50.0 0.6 31/10/14 2.50 UOA Development 300315 0.155 1.88 2.17 2.35 8.1 4.7 0.155 0.155 100.0 1.0 30/03/15 3.00 Wah Seong 140714 0.055 2.00 1.91 2.11 10.5 17.4 0.135 0.04 40.0 0.3 14/07/14 2.00 Wah Seong 300914 0.195 1.70 1.91 1.99 4.3 6.5 0.30 0.08 50.0 0.5 30/09/14 1.50 Wah Seong 180315 0.15 2.00 1.91 2.60 36.1 3.2 n.a. n.a. 100.0 1.0 18/03/15 4.00 WCT Holdings 310714 0.02 2.55 2.17 2.59 19.4 54.3 0.155 0.015 50.0 0.3 31/07/14 2.00 WCT Holdings 080914 - Put Warrant 0.15 1.88 2.17 2.18 0.5 7.2 n.a n.a 100.0 0.4 08/09/14 2.00 WCT Holdings 080914 0.16 2.58 2.17 2.90 33.6 6.8 0.18 0.16 100.0 0.4 08/09/14 2.00 WCT Holdings 211114 0.115 2.20 2.17 2.43 12.0 9.4 0.135 0.115 100.0 0.6 21/11/14 2.00 WCT Holdings 220115 0.08 2.20 2.17 2.44 12.4 9.0 0.09 0.06 40.0 0.8 22/01/15 3.00 WCT Holdings 180315 0.15 2.28 2.17 2.73 25.8 4.8 n.a. n.a. 100.0 1.0 18/03/15 3.00 Westports 241014 0.085 2.40 2.53 2.74 8.3 7.4 0.15 0.085 40.0 0.6 24/10/14 4.00 Westports 241014 0.05 2.80 2.53 3.00 18.6 12.7 0.08 0.05 40.0 0.6 24/10/14 4.00 Westports 311014 0.14 2.30 2.53 2.58 2.0 9.0 0.24 0.14 50.0 0.6 31/10/14 2.00 Westports 311014 0.10 2.50 2.53 2.70 6.7 12.7 0.185 0.10 50.0 0.6 31/10/14 2.00 Westports 311014 0.045 2.70 2.53 2.79 10.3 28.1 0.11 0.045 50.0 0.6 31/10/14 2.00 Westports 060215 0.15 2.28 2.53 3.03 19.8 3.4 n.a. n.a. 100.0 0.8 06/02/15 5.00 Yison 090315 0.165 7.28 8.84 9.76 10.4 3.6 0.20 0.15 100.0 0.9 09/03/15 15.00 Yison 310315 0.13 9.00 8.84 10.30 16.5 6.8 0.15 0.11 50.0 1.0 31/03/15 10.00 YTL Corp 300414 0.01 1.60 1.53 1.62 5.6 102.0 0.21 0.005 50.0 0.1 30/04/14 1.50 YTL Corp 180714 0.04 1.65 1.53 1.71 11.8 25.5 0.14 0.04 100.0 0.3 18/07/14 1.50 YTL Corp 300914 0.085 1.50 1.53 1.63 6.4 12.0 0.275 0.085 50.0 0.5 30/09/14 1.50 YTL Corp 101114 0.045 1.60 1.53 1.74 13.4 11.3 0.085 0.03 40.0 0.6 10/11/14 3.00 YTL Power 310714 0.085 1.52 1.57 1.65 4.8 12.9 0.265 0.065 50.0 0.3 31/07/14 1.43 YTL Power 100914 0.085 1.43 1.57 1.67 6.5 6.5 0.17 0.08 40.0 0.4 10/09/14 2.86 YTL Power 220115 0.065 1.71 1.57 1.90 21.0 8.5 0.11 0.065 40.0 0.8 22/01/15 2.86 Zhulian 311014 0.02 3.95 2.90 4.03 39.0 36.3 0.395 0.02 50.0 0.6 31/10/14 4.00 Zhulian 060215 0.01 5.38 2.90 5.46 88.3 36.3 0.06 0.005 100.0 0.8 06/02/15 8.00 Zhulian 230215 0.095 3.00 2.90 3.57 23.1 5.1 0.11 0.09 40.0 0.9 23/02/15 6.00

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Covered Warrants – Overseas 31/3/14 Warrant Exercise Share Conversion Warrant Wrt 52-Wk Issue Days Conversion Price Price Price Price Premium Gearing High Low Size To Run Expiry Ratio (RM) (RM) (RM) (RM) (%) (x) (RM) (RM) (m) (Wrt : 1 Shr)

Apple 211014 (a) 0.11 538.88 536.74 622.80 16.0 6.4 0.175 0.11 40.0 0.5 21/10/14 2,500

Apple 200115 (a) 0.11 520.00 536.74 620.70 15.6 5.3 0.17 0.095 40.0 0.8 20/01/15 3,000

BRKB 160414 (a) 1.78 0.00 124.97 121.11 (3.1) 1.0 1.78 1.31 100.0 0.0 16/04/14 223

Citibank 310714 (a) 0.055 50.00 47.60 54.20 13.9 11.3 0.13 0.05 40.0 0.3 31/07/14 250

Citibank 200115 (a) 0.055 55.00 47.60 60.87 27.9 8.1 0.055 0.05 40.0 0.8 20/01/15 350

Facebook 310714 (a) 1.13 26.00 60.24 60.48 0.4 1.7 1.48 0.465 40.0 0.3 31/07/14 100

Facebook 211014 (a) 0.18 58.88 60.24 72.61 20.5 4.4 0.285 0.11 100.0 0.5 21/10/14 250

Facebook 200115 (a) 0.125 55.00 60.24 71.40 18.5 3.7 0.205 0.11 40.0 0.8 21/01/15 430

Genting Singapore 310714 (b) 0.12 1.35 1.335 1.53 15.0 7.2 0.12 0.11 40.0 0.3 31/07/14 4.0

Genting Singapore 270215 (b) 0.07 1.40 1.335 1.48 10.9 16.5 0.08 0.07 50.0 0.9 27/02/15 3.0

Google 310714 (a) 0.275 900 558 1,152 106.5 2.2 0.365 0.125 40.0 0.3 31/07/14 3,000

Google 211014 (a) 0.28 988 558 1,244 123.1 2.2 0.345 0.16 100.0 0.5 21/10/14 3,000

Ishares Silver Trust 201015 (a) 0.11 19.00 19.04 n.a. n.a. n.a. 0.15 0.11 40.0 0.8 20/01/15 100

MGM China 200115 (c) 0.075 33.93 27.35 37.48 37.0 7.7 0.125 0.075 40.0 0.8 21/01/15 20

Prada 200115 (c) 0.05 70.00 60.70 n.a. n.a. n.a. 0.07 0.05 40.0 0.8 20/01/15 50

Sands China 310714 (c) 0.40 40.00 57.95 58.93 1.7 3.1 0.585 0.18 40.0 0.3 31/07/14 20

SPDR® Gold Trust (a) 0.12 125.00 123.61 139.65 13.0 8.4 0.24 0.095 40.0 0.3 31/07/14 400

Thai Beverage 300914 (b) 0.165 0.465 0.605 1.05 73.7 1.0 0.17 0.165 50.0 0.5 30/09/14 1.5

Toyota 310714 (d) 0.045 6,500 5826.0 6,855 17.7 16.4 0.15 0.035 40.0 0.3 31/07/14 250

Twitter 201015 (a) 0.115 60.00 46.67 n.a. n.a. n.a. 0.19 0.115 40.0 0.8 20/01/15 460

Uniqlo 310714 (d) 0.095 35,000 37435.0 40,994 9.5 6.2 0.195 0.07 40.0 0.3 31/07/14 2,000

Yahoo (a) 0.145 36.88 35.90 43.52 21.2 5.4 0.215 0.14 100.0 0.5 21/10/14 150

(a) In US$, except warrant price. (b) In S$, except warrant price. (c) In HK$, except warrant price. (d) In JPY, except warrant price.

31



Diary Of Events

Thursday Tuesday Sunday Monday Wednesday Friday Saturday

– Feb Trade Figures

– 31 Mar Foreign Reserves

– Feb IPI – Feb Manufacturing Sales

– CapialMalls Malaysia Trust (1Q14)

– Mar CPI

– Bursa Malaysia (1Q14)

– Nestle (1Q14)

5

13 14 15 16 17 18 19

6 8 9 10 11 12 7

2 3 4 1

32



Diary Of Events

Thursday Tuesday Sunday Monday Wednesday Friday Saturday

– 15 Apr Foreign Reserves – Axis REIT (1Q14)

– Public Bank (1Q14)

– Pavilion REIT (1Q14) – BAT (1Q14)

– Malaysia Airports (1Q14) – DiGi (1Q14)

– Mar Monetary & Loan Figures – Sunway REIT (1Q14)

20 21 22 23 24 25 26

27 28 29 30

33



Disclosures As of 4 April 2014, the analyst and his/her immediate family do not hold positions in the respective securities recommended in this report. We have based this document on information obtained from sources we believe to be reliable, but we do not make any representation or warranty nor accept any responsibility or liability as to its accuracy, completeness or correctness. Expressions of opinion contained herein are those of UOB Kay Hian Research Pte Ltd only and are subject to change without notice. Any recommendation contained in this document does not have regard to the specific investment objectives, financial situation and the particular needs of any specific addressee. This document is for the information of the addressee only and is not to be taken as substitution for the exercise of judgement by the addressee. This document is not and should not be construed as an offer or a solicitation of an offer to purchase or subscribe or sell any securities. UOB Kay Hian and its affiliates, their Directors, officers and/or employees may own or have positions in any securities mentioned herein or any securities related thereto and may from time to time add to or dispose of any such securities. UOB Kay Hian and its affiliates may act as market maker or have assumed an underwriting position in the securities of companies discussed herein (or investments related thereto) and may sell them to or buy them from customers on a principal basis and may also perform or seek to perform investment banking or underwriting services for or relating to those companies. UOB Kay Hian (U.K.) Limited, a UOB Kay Hian subsidiary which distributes UOB Kay Hian research for only institutional clients, is an authorised person in the meaning of the Financial Services and Markets Act 2000 and is regulated by Financial Services Authority (FSA). In the United States of America, this research report is being distributed by UOB Kay Hian (U.S.) Inc (“UOBKHUS”) which accepts responsibility for the contents. UOBKHUS is a broker-dealer registered with the U.S. Securities and Exchange Commission and is an affiliate company of UOBKH. Any U.S. person receiving this report who wishes to effect transactions in any securities referred to herein should contact UOBKHUS, not its affiliate. The information herein has been obtained from, and any opinions herein are based upon sources believed reliable, but we do not represent that it is accurate or complete and it should not be relied upon as such. All opinions and estimates herein reflect our judgement on the date of this report and are subject to change without notice. This report is not intended to be an offer, or the solicitation of any offer, to buy or sell the securities referred to herein. From time to time, the firm preparing this report or its affiliates or the principals or employees of such firm or its affiliates may have a position in the securities referred to herein or hold options, warrants or rights with respect thereto or other securities of such issuers and may make a market or otherwise act as principal In transactions in any of these securities. Any such non-U.S. persons may have purchased securities referred to herein for their own account in advance of release of this report. Further information on the securities referred to herein may be obtained from UOBKHUS upon request. UOB Kay Hian (Malaysia) Holdings Sdn Bhd (210102-T) Suite 19-02, 19th Floor, Menara Keck Seng, 203 Jalan Bukit Bintang, 55100 Kuala Lumpur, Malaysia. Tel: (603) 2147 1988, Fax: (603) 2147 1983 http://research.uobkayhian.com

Corporate Guide - Malaysia, April 2014

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Transcript of Corporate Guide - Malaysia, April 2014