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New Zealand’s foreign homebuyers ban to start early 2018 PA G E 2

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WEDNESDAY NOVEMBER 1, 2017 ISSUE 2523/2017

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




1 1 H O M E

1 2 C O M M E N T

FGV names two palm oil experts as directors

AG says police probe into 1MDB lacks evidence

Fraud losses since 2013 have reached almost RM5b, says Nur Jazlan

AirAsia to sell more stakes in non-fl ying businesses

Noh Omar: Homebuyers lost RM6.2m in scams

Biggest stock collapse in world history has no end in sight

Former JCorp CEO Muhammad Ali passes away at 70 4 H O M E B U S I N E S S

PHOTO BY SHAHRIN YAHYA

Undeterred, the tycoon has put forward a bid to Ekovest shareholders to

take IWCity private.Chester Tay has the

story on Page 3.

U d t d th t

LIM KANG HOO SUFFERS SETBACK

in IWH-IWCity merger

Jacinda Ardern

2 WEDNESDAY NOVEMBER 1, 2017 • THEEDGE FINANCIAL DAILY

For breaking news updates go towww.theedgemarkets.com

O N E D G E T V


BY C H A R LOT T E G R E E N F I E L D

Employers can apply for foreign maid permits online from Jan 1SEPANG: From Jan 1, employ-ers can apply for foreign maid permits from the immigration department via an online sys-tem, according to Immigration Department director-general Datuk Seri Mustafar Ali. “Ap-plications can be made directly without an agent or mediator, and it is expected to take seven to 16 days [to process],” he said yesterday. He said the direct re-cruitment of foreign maids from source countries would reduce the cost and burden for em-ployers, who only pay around RM3,600 to RM3,800, unlike payments made to agents pre-viously. “Th e cost involves fees for levy, a visit pass [for tempo-rary work], visa and processes set according to the respective countries, as well as fl ight cost,” he said. — Bernama

Apologise or face legal action, Apandi reminds Raja PetraPUTRAJAYA: Attorney-General Tan Sri Mohamed Apandi Ali said he will institute legal ac-tion against Raja Petra Kamaru-din if the blogger refuses to apologise over an article on alleged corruption. However, he said he is not giving any spe-cifi c time frame for the latter to apologise but it should not be too long following messages and signals sent through the media to Raja Petra to apolo-gise. Raja Petra had posted two articles on his Malaysia Today blog alleging Mohamed Apandi was involved in an act of cor-ruption. — Bernama

MCMC meets service providers over alleged sale of consumer dataCYBERJAYA: The Malaysian Communications and Multime-dia Commission (MCMC) has met with telecommunications companies over the alleged sale of consumer data believed to be obtained illegally. MCMC chief operating offi cer Dr Mazlan Is-mail said the meeting was held to seek cooperation from all the companies, and for them to be kept up to speed on the issue. On Monday, Inspector-Gener-al of Police Tan Sri Mohamad Fuzi Harun confi rmed that po-lice were investigating a claim involving a data breach of 46.2 million mobile phone subscrib-ers locally. — Bernama

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WELLINGTON: New Zealand Prime Minister Jacinda Ardern (pic) said yesterday a ban on foreigners buy-ing existing homes would begin ear-ly 2018, but the restrictions would not apply to Australians.

Ardern campaigned in the re-cent New Zealand election to re-strict foreign buyers to reduce de-mand, while the country tackles what her Labour party says is a housing crisis left unresolved by the previous National administration.

“We are determined to make it easier for Kiwis to buy their fi rst home, so we are stopping foreign speculators buying houses and driving up prices. Kiwis should not be outbid like this,” said Ardern in an emailed statement, using the colloquial term for New Zealanders.

Th e politically sensitive housing crunch has seen prices rise more than 50% nationally in the last dec-ade. In Auckland, prices have al-most doubled in that period. Th e central bank sees fast-rising prices as a major economic risk.

Th e ban would not apply to Aus-

Foreign homebuyers ban to start early 2018New Zealand PM says restrictions will not apply to Australians

tralians, Ardern said, given New Zealanders are exempt from home ownership restrictions in neigh-bouring Australia, where many New Zealanders live. Ardern told reporters that legislation would be introduced in parliament by Dec 25.

The restrictions are being fast-tracked so that Labour would not have to renegotiate foreign invest-ment provisions in the Trans-Pacifi c Partnership (TPP) deal, after a long series of talks to revive the agreement since the US pulled out in January.

Th e TPP currently requires its 11 member states to give foreign inves-tors equal treatment to locals un-less there are specifi c exemptions.

New Zealand has no such grounds for an outright ban on overseas investment in housing, but its Overseas Investment Act is exempted from the trade deal.

Adding housing to that legis-lation, Labour will be able to go ahead with the ban without having to request any changes to the TPP when ministers meet on the side-lines of the Asia-Pacifi c Economic Cooperation meeting in Vietnam next week to fi nalise the agreement.

Ardern said New Zealand would instead focus on renegotiating rules allowing investors to sue mem-ber countries included in the TPP, though she acknowledges it would be diffi cult to get large changes so late in negotiations.

Some government fi gures show the number of home sales includ-ing foreigners is only around 3%, though Labour has criticised that data and says it excludes many types of owners, including those who purchase properties through trusts.

“It is very important that we pre-serve these rights for New Zealand,” Trade Minister David Parker told reporters. — Reuters

KUALA LUMPUR: CIMB Group Holdings Bhd’s 92.5%-owned In-donesian banking arm PT Bank CIMB Niaga Tbk (CIMB Niaga) re-ported a net profi t of 2.2 trillion ru-piah (RM686.45 million) for the fi rst nine months ended Sept 30, 2017 (9MFY17), up 69.1% from 1.3 trillion rupiah in the same period last year.

In a statement yesterday, CIMB Niaga said the stronger net profi t was due to a 5.4% year-on-year (y-o-y) growth in net interest income to 9.37 trillion rupiah in 9MFY17 from 8.89 trillion rupiah, and a 16.4% decline in provision expense.

“Considering the relatively soft underlying economic activity, we are pleased to announce a contin-ued improvement in our fi nancial performance for 9MFY17. Our oper-

CIMB Niaga’s 9M net profi t jumps 69% BY C H E S T E R TAY

BY K E I T H Z H A I

SINGAPORE: National Trades Union Congress Secretary-General Chan Chun Sing — touted by the Singapore media as one of several front runners to be the fourth prime minister — said the country’s bigger task ahead is to attract “committed people” to take over from his batch of leaders as the city-state prospers.

Th e bigger challenge “is really

Singapore says fi nding new leaders is next challengewhat’s beyond the fourth generation”, Chan, 48, — who is also a Minister in the Prime Ministers Offi ce — said at a Foreign Correspondents Asso-ciation event in Singapore on Mon-day. “Th e more successful you are, the more diffi cult it is to fi nd people prepared to put aside their personal aspirations to come forth to serve.”

Chan said Singapore’s key policies are formed by the leadership team, and apart from the next premier’s

personality and style, the direction won’t change dramatically to cause disruption or discon-tinuity. Prime Minister Lee Hsien Loong has said his successor must be ready to take over after the next election, due by early 2021.

“All of us have to be prepared to do the job when called upon,” he said in

response to a question on whether he would put his hand up for

the role. “In Singapore, lead-ership is a responsibility to be borne, and not a position to be sought.” — Bloomberg

ating income grew 5.1% y-o-y while costs were under control, rising only 0.8% y-o-y, below the infl ation rate of 3.7%,” said CIMB Niaga president director Tigor M Siahaan.

Th e decline in provision expense also resulted in lower credit charg-es of 2.34% compared with 2.77% a year ago, he said. Given the current economic environment, he said his team will continue the company’s prudent approach to loan growth, prioritising asset quality.

As at 9MFY17, CIMB Niaga’s total assets grew 6.3% y-o-y to 252.13 trillion rupiah, making it the fi fth-largest bank by assets in In-donesia. Total gross loans climbed 2.7% y-o-y to 178.8 trillion rupiah. Of the total loans, corporate loans made up 36%, followed by consum-er loans at 28%, micro, small and medium enterprise (SME) loans

(19%), and commercial loans (17%).“Our strategy to focus on mort-

gage and the SME segment is build-ing traction and has grown 12.1% and 14.5% y-o-y respectively,” Tig-or said.

Total third party deposits stood at 187.25 trillion rupiah as at 9MFY17, underpinned by a 6.2% y-o-y growth in current account, savings account (Casa), which pushed up CIMB Niaga’s Casa ratio by 70 basis points (bps) y-o-y to 53.28%.

As for syariah banking, CIMB Niaga’s Islamic Business Unit’s total fi nancing jumped 82.5% y-o-y to 14.84 trillion rupiah, with third-par-ty deposits climbing 81.3% y-o-y to 16.84 trillion rupiah as at 9MFY17.

CIMB Niaga’s capital adequacy ratio stood at 18.96% as at 9MFY17, up 82bps y-o-y from the same pe-riod last year.

REUTERS

Chan: The bigger challenge ‘is really what’s beyond the

fourth generation’. Photo by Reuters

H O M E B U S I N E S S 3WEDNESDAY NOVEMBER 1, 2017 • THEED G E FINANCIAL DAILY

KUALA LUMPUR: Attorney-Gen-eral (AG) Tan Sri Mohamed Apandi Ali said yesterday he had directed the police to make further investi-gation into state-owned strategic investment fund 1Malaysia Devel-opment Bhd (1MDB) following the lack of evidence in certain areas, according to a Bernama report.

“When the investigation papers are referred to us, we go through them. [When] we fi nd a lack of evi-dence, we give instructions that the team should carry out investigations in certain areas. Th ose areas I cannot disclose. Th e investigation is still on.

“About 20 to 25% of the investiga-tion papers need to be reviewed,” he reportedly told a press conference here yesterday. He also noted there were reports that the 1MDB case had been thrown out, which he said were “not correct”, according to a report by Malaysiakini.

The AG was commenting on Minister in the Prime Minister’s Department Datuk Seri Azalina Oth-man Said’s statement on Monday, which revealed that he on Oct 24 directed the police to reinvestigate the 1MDB fund scandal. Azalina

Police probe into 1MDB lacks evidence, says Attorney-General

BY A D A M A Z I Z

Target structure

KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGV) an-nounced two boardroom changes yesterday, in line with the appoint-ment of “subject matter experts” proposed by chairman Datuk Wira Azhar Abdul Hamid earlier last month, the day FGV chief execu-tive offi cer Datuk Zakaria Arshad returned to offi ce.

Azhar said on Oct 9 that FGV intended to appoint the subject matter experts to the board as part of a new management structure to improve operational and fi nancial performances of its core plantation business, and ensure sustainable growth going forward.

In a fi ling yesterday, FGV wel-comed Datuk Dr Salmiah Ahmad and Dr Mohamed Nazeeb P Alith-ambi as independent non-executive directors, eff ective immediately.

“We are confi dent the appoint-ments of Datuk Dr Salmiah and Dr Mohamed Nazeeb will further

FGV names two palm oil experts as directors

strengthen the composition of the FGV board. Being subject matter experts in their respective fi elds, both professionals have the right experience and expertise to help move FGV forward, in generating sustainable returns for our share-holders and stakeholders,” said Azhar in a separate statement.

A former FGV board member in 2014, Salmiah had spent 27 years with the Malaysian Palm Oil Board (MPOB) in several capacities, with her last position as the deputy di-rector-general (DG) of services. She was also the first woman to be appointed as the DG of the Ma-laysian Rubber Board — a position she held from 2010 to 2015. She recently served a two-year term as the chief executive offi cer of the International Rubber Consortium Ltd from 2015 to 2017.

Mohamed Nazeeb, on the other hand, had served Sime Darby Bhd for 30 years, and was Sime Darby Plantation head of research and development, as well as head of

plantation advisory, until recently. He holds a doctorate of philosophy in agronomy, and is also a former MPOB board member. “[Mohamed] Nazeeb’s distinguished career and track record in the palm oil sector augur well for FGV, especially with him being a well-respected voice in agronomy,” said FGV.

Th e plantation group also an-nounced the resignation of Datuk Mohd Zafer Mohd Hashim from the board and as chairman of its audit committee. Mohd Zafer cited professional commitments as the reason for his exit.

“While looking for a suitable can-didate with fi nancial background to replace him, the board has ap-pointed Datuk Yahaya Abd Jabar as chairman of the audit commit-tee and Datuk Mohamed Suffi an Awang as an additional member of the audit committee,” FGV said.

FGV shares closed 1.06% or two sen higher at RM1.91 yesterday, giving it a market capitalisation of RM6.97 billion.

KUALA LUMPUR: Tycoon Tan Sri Lim Kang Hoo has suff ered a setback with his plan to merge Iskandar Waterfront Holdings Sdn Bhd (IWH) with its 38.35%-owned associate Iskandar Waterfront City Bhd (IWCity), which would see the establishment of one of the largest listed property developers on Bursa Malaysia.

In a surprise announcement yesterday, IWCity said the compa-ny and IWH have mutually agreed to terminate the proposed merger.

Th is follows a decision by the owners of the lands that were supposed to be injected into the enlarged IWH — Sultan of Johor Sultan Ibrahim Sultan Iskandar and Kumpulan Prasarana Rakyat Johor Sdn Bhd (KPRJ) — to pull out of their participation in the restructuring exercise between the two companies.

“[Th eir pullout] will result in an unexpected substantial variation and reduction in the scale and scope of the proposed restructur-ing exercise,” IWCity told Bursa Malaysia yesterday.

As such, IWCity said the imple-mentation of the proposed merg-er scheme and the proposed re-structuring exercise is no longer consistent with the anticipated

Lim Kang Hoo suff ers setback in IWH-IWCity mergerUndeterred, the tycoon has put forward a bid to Ekovest shareholders to take IWCity private

BY C H E S T E R TAY benefi ts and intentions which were originally envisaged by IWH.

“Th e parties are [also] unlikely to be in a position to fulfi l the con-ditions precedent contemplated in the merger agreement within the originally anticipated time frame for fulfi lment/obtainment,” it added.

However, the failed IWH-IWCity merger did not hold Lim back from exploring new opportunities. Lim, who is major shareholder and execu-tive chairman of Ekovest Bhd, is now proposing Ekovest to buy the rest of the 62% shares not owned by IWH in IWCity through either a cash consid-eration of RM1.50 per share, valuing the company at RM1.25 billion, or a one-for-one share swap deal.

Lim and parties acting in concert currently own a controlling 63% stake in IWH, while KPRJ owns the remaining 37% stake. And Lim, through IWH, owns 38.35% of IW-City. He also owns a 32.38% stake in Ekovest.

It is understood that Lim intends to take IWCity private under the new proposal.

“Essentially, what the new pro-posal tries to achieve is to privatise IWCity. It is a good investment deal for Ekovest as the RM1.50 off er price represents a 60% discount over the open market value of IWCity. Th e is-suance of new shares at a premium of 28% to Ekovest’s current market

price is also a good deal for Ekovest,” a source familiar with the proposed deal told Th e Edge Financial Daily yesterday.

Th e source said IWCity has an indicative open market value of RM3.68 billion.

Th is implied that the 62% IW-City stake Ekovest is acquiring is worth some RM2.3 billion or RM4.44 per share, which means that the off er price of RM1.50 per share or RM777.84 million is a 66% discount to IWCity’s indicative market value.

In May, IWH entered into a merg-er agreement with IWCity for a pro-posed one-for-one merger off er to

take up the remaining 62% equity in the latter and assume the latter’s listing status. Th e board of directors of IWCity had until yesterday to de-liberate on the proposed merger off er by IWH, after two extensions.

In tandem with the proposed merger, IWH was to have embarked on a proposed restructuring exercise with Lim —who is director cum ex-ecutive vice-chairman of IWH — via an internal rationalisation of minor-ity stakes within the IWH Group and various Johor state entities including KPRJ to consolidate the land bank under IWH. Th is will see an injection of 3,593 acres (1,454ha) of land with

an open market value of RM4.1 billion into IWH.

In a separate fi ling yesterday, Ekovest said it had last Friday re-ceived a proposal letter from Lim to acquire the 62% stake in IWCity, which currently has 1,052 acres of land bank mainly in Johor.

Lim is also proposing to the board of IWH, which owns a 38% stake in IWCity, not to accept the off er from Ekovest. All parties have until Nov 30 to deliberate on Lim’s proposals.

Astramina Advisory Sdn Bhd has been appointed as the fi nan-cial adviser for the proposed ac-quisition.

When contacted, the advisory fi rm’s managing director Wong Muh Rong said her team had eval-uated the pros and cons of the proposed deal thoroughly.

“Before proceeding, we got all the support of all [major] share-holders and directors for decisions made,” she added.

Trading in both Ekovest and IWCity shares have been halted since Monday and will resume trading today. Ekovest’s share price last closed at RM1.16 last Friday, valuing the group at RM2.48 billion, while IWCity’s stock settled at RM1.40, bring-ing it a market capitalisation of RM1.17 billion.

issued the statement in response to Puchong member of parliament Gobind Singh Deo, who asked why there was a delay in concluding the case, as police submitted the investigation papers to the AG’s Chambers on April 12.

On Sept 20, Inspector-General of Police Tan Sri Mohamad Fuzi Harun was also reported as saying that the police had wrapped up their investigations into 1MDB. Malaysi-akini wrote that when asked if the missing evidence included inves-tigations into businessman Low Taek Jho, Mohamed Apandi said he was being goaded to reveal fur-ther information and subsequently declined to comment.

Low has been closely linked to 1MDB, where allegedly billions of ringgit was claimed to have been siphoned off by certain individuals. Low, however, has denied the alle-gations directed at him. Investiga-tions related to 1MDB centering on alleged fi nancial irregularities and possible money laundering have been initiated in several countries, including Singapore, Switzerland and the US.

SOURCE: EKOVEST

4 H O M E B U S I N E S S WEDNESDAY NOVEMBER 1, 2017 • THEEDGE FINANCIAL DAILY

Nur Jazlan: Fraud losses since 2013 have reached almost RM5b

Muhammad Ali passes away at 70Najib: He made huge contribution to JCorp, corporate sector

KUALA LUMPUR: Sunway Real Estate Investment Trust (REIT) kicked off its financial year 2018 (FY18) with a strong first-quarter performance, with net property income (NPI) rising 15.5% year-on-year (y-o-y) to RM111.99 mil-lion on the back of higher reve-nue and lower property operating expenses.

Quarterly revenue increased 9.5% to RM141.17 million in the three months ended Sept 30, 2017 (1QFY18) from RM128.88 million in 1QFY17, mainly contributed by higher revenue across all seg-ments.

It also proposed an income dis-

tribution per unit (DPU) for 1QFY18 of 2.67 sen, payable on Nov 29.

In a statement yesterday, Sun-way REIT said its retail segment’s revenue improved by 3.9% y-o-y to RM103.6 million in 1QFY18, underpinned by the high aver-age occupancy rates of all retail malls in its stable of asset portfo-lio, mainly due to higher average gross rent for Sunway Pyramid shopping mall. The segment’s NPI also increased 9.4% y-o-y to RM78.3 million on the back of higher revenue and lower prop-erty operating cost.

The hotel segment, meanwhile, saw revenue and NPI increase 40.9% and 43.7% y-o-y respective-ly, in 1QFY18, primarily attribut-

able to full resumption of oper-ation at Sunway Pyramid Hotel following the completion of its refurbishment in June.

In addition, Sunway Putra Ho-tel enjoyed higher average oc-cupancy and average daily rates during the quarter, benefited from higher demand from the South-east Asian Games 2017 and the Asean Para Games 2017 held in August and September respec-tively.

As for the office segment, Sun-way REIT said it reported a reve-nue and NPI growth of 8.1% and 8.5% y-o-y respectively, largely attributable to higher average oc-cupancy rates at Menara Sunway and Sunway Putra Tower.

KUALA LUMPUR: Property devel-oper LBS Bina Group Bhd has pro-posed to split its shares on a one-to-two basis, followed by a bonus issuance on the basis of one bonus share for every 10 split shares held.

In a fi ling with Bursa Malaysia, LBS said the fi rst will result in the subdivision of every one existing share into two ordinary shares, on an entitlement date to be fi xed.

Subsequently the group will un-dertake the bonus issue, which will involve the issuance of up to 162.99 million new shares on a one-for-10 basis.

LBS said the proposed share split is expected to improve trading li-quidity of its shares while the bo-nus issue aims to reward existing shareholders for their loyalty and continuing support.

Th e bonus issue shall be eff ect-ed by way of capitalising the share

premium and retained profits of the company, it said. Th e share split requires shareholders’ approval at an extraordinary general meeting.

LBS expects both of these pro-posed exercises to be completed by the fi rst quarter of 2018.

Th e group’s share price slid three sen or 1.54% to close at RM1.92 yes-terday, giving it a market capitalisa-tion of RM1.31 billion. Year to date, the stock has gained 18.52% from RM1.62 on Jan 2.

KUALA LUMPUR: Former Johor Corp (JCorp) president and chief executive offi cer (CEO) Tan Sri Muhammad Ali Hashim passed away yesterday at the age of 70 after a battle with cancer, accord-ing to a Bernama report.

Muhammad Ali died at about 3.30pm at KPJ Damansara Spe-cialist Hospital. Th e report stat-ed, citing close family members of the deceased, that he was ad-mitted to the hospital for cancer treatment two months ago.

According to the World Islam-ic Countries University Leaders Summit Secretariat, Muhammad Ali was recognised as an out-standing Malaysian corporate entrepreneur after a successful 28-year career as CEO of JCorp between 1982 and 2010.

At the end of his tenure as CEO, JCorp was recognised as one of Malaysia’s outstanding

corporations with more than 280 companies and 65,000 employ-ees. Eight companies were list-ed including New Britain Palm Oil Ltd (NBPOL) on the London Stock Exchange (LSE), bringing a total market capitalisation of RM18.1 billion at end-2010.

Most of these companies have been privatised such as KFC Holdings (Malaysia) Bhd, Kulim (Malaysia) Bhd, Sindo-ra Bhd and QSR Brands Bhd, as well as NBPOL, which was del-isted from LSE in 2015. Kulim has sold its stake in NBPOL to Sime Darby Bhd.

Among the JCorp companies that are still listed on Bursa Ma-laysia today are KPJ Healthcare Bhd, Al-Aqar Healthcare Real Estate Investment Trust and Da-mansara Realty Bhd.

Muhammad Ali was also pres-ident of the Malaysian Islam-ic Chamber of Commerce and chairman of Awqaf Holdings Ma-

laysia Bhd — Malaysia’s fi rst com-munity-driven Corporate Waqf.

In October 2015, he was listed as one of the Muslim 500 — the World’s 500 Most Infl uential Mus-lims 2016, by Th e Royal Islamic Strategic Studies Centre head-quartered in Amman, Jordan.

Prime Minister Datuk Seri Na-jib Razak, in his tweet yesterday, expressed his condolences to the family of the late Muhammad Ali, saying the latter had made a huge contribution to JCorp and the corporate sector.

For former managing director and independent non-executive director of KPJ Healthcare Tan Sri Datin Paduka Siti Sadiah Sheikh Bakir, Muhammad Ali is remem-bered as a man who had dedicated himself to the corporate world.

“His tagline was ‘Business Ji-had, Corporate Waqf’, which was a community driven waqf for all Ummah,” she told Th e Edge Fi-nancial Daily.

Sunway REIT 1Q net property income up 15.5% y-o-y

LBS plans one-to-two share split, one-for-10 bonus issue

BY A D E L A M EG A N W I L LY

BY S U L H I A Z M A N

BY TA N X U E Y I N G

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

KUALA LUMPUR: Individuals have lost RM4.92 billion to fraud in the country since 2013, according to Deputy Home Minister Datuk Nur Jazlan Mohamed.

Between 2013 and Oct 11, 2017, a total of 2,590 complaints related to fraud were received, with more than 1.73 million individuals — locals and foreigners — falling victim to scams, Nur Jazlan revealed in Parliament yesterday.

Th ese fraud cases included on-line purchase fraud (e-commerce), ‘African scam’ (love scam), online gambling and investment scam (get-rich-quick schemes), he added.

Nur Jazlan said while the Roy-al Malaysia Police (PDRM) pay at-tention to such fraudulent criminal cases which are “widespread and cause huge amounts of losses to the victims”, the public are urged to be more vigilant and cautious.

“PDRM always focus on criminal cases related to fraud. They have traced, apprehended and charged individuals guilty of these crimes, including those who gave these crim-inals access to their bank accounts to carry out these fraud-enabling activities,” he said.

“Th ese people use various modus

EDITOR’S PICKS FROMtheedgemarkets.com

operandi in their activities to deceive their victims, whether face-to-face or via online. Th is is why everyone needs to be careful and avoid taking part in any get-rich-quick schemes without running a background check on the service providers.”

Nur Jazlan noted that a fraudulent case comes to light only when a po-lice report is made, usually “after one to two years of investing”.

He was responding to a parlia-mentary question by Mukah mem-ber of parliament (MP) Datuk Seri Dr Muhammad Leo Michael Toyad Ab-dullah and Lanang MP Alice Lau on measures taken to address this issue.

“A report is made only after a scheme has been running for one to two years. Th is is because when an investor gets his or her return on investments, they would assume all is well. But when the payment stops, only then they feel something is amiss and lodge a police report,” Nur Jazlan said.

“Th e authorities will constantly monitor. If a case is made, the min-istry will also investigate. If the sus-pect is in the country, then he will be caught by our authorities. But if he or she is out of the country or the crime is committed overseas, then we will have to seek cooperation from foreign authorities.”

Inclusivity measures to cater for B40 group incomplete, says economist

PETALING JAYA: An independent economist says the government’s initiative under the New Economic Model (NEM) and various meas-ures under Budget 2018 to deal with economic inclusivity and the inequality issue, particularly aff ect-ing the bottom 40% of the house-hold income group (B40), are in-complete.

Th is, said Tan Sri Dr Kamal Sal-ih, is because the intervention ap-proach has not changed from the measures announced 50 years ago.

According to the former eco-nomic and development studies professor, the NEM — still con-taining elements of ethnicity — remains a “peculiar economic sit-uation in Malaysia” and should be replaced by a fresh economic plan to address “the kind of macroeco-nomics nuances”.

“We are concerned about the impact from the goods and services tax (GST) as well as the rising cost of living on the B40 group. Our models of intervention are still the same as they were done 50 years ago,” Ka-mal said at a forum entitled “Th e Reform Programme for Dynamic Sustainable Development” organ-ised by the Jeff rey Cheah Institute of Southeast Asia and the Malaysian Economic Association.

In calling for the fresh plan, Ka-mal said it should address income inequality, which has been on the

rising trend and contributes 95% of the total inequality chunk.

Describing the intervention ap-proach as “basically standing still”, Kamal questions the measures in-troduced for the B40 group, which bear similar resemblance to the establishment of various rural de-velopment initiatives in the past 50 years, such as the formation of Majlis Amanah Rakyat to enhance bumiputeras’ economic well-being.

Even though Malaysia has man-aged to resolve the absolute poverty issue, Kamal said, “Relative poverty will always be there, represented by this new B40 group.”

To solve the overall inclusivity and terminate the inequality issue, Kamal said the only approach is to pave the way for those in the B40 group to exit and then enter the next group level.

In addition, Kamal stresses that the government’s cash transfer pro-gramme as well as subsidy-related measures are not the correct way to solve inclusivity and economic inequality problems.

Criticising the continuation of programmes such as the 1Malaysia People’s Aid (BR1M), Kamal said the government must educate the B40 group of the old adage that “teach a man to fi sh and you feed him for a lifetime”.

Kamal said the diff erence in in-come gap between the richest 10% of the population and the B40 is still “very huge”.

BY C H E S T E R TAY


AirAsia to sell more stakes in other sectors Sale of interest in non-fl ying businesses is to fund special dividends

BY J A M I E F R E E D

SINGAPORE: AirAsia Bhd yester-day said it plans to sell more stakes in non-fl ying businesses to fund special dividends to shareholders after announcing a new ground handling joint venture (JV) with Singapore’s SATS Ltd.

Th e low-cost carrier, which ex-pects S$119.3 million (RM370.62 million) in proceeds from the SATS deal, is close to selling some or all of its aircraft leasing arm and its remaining 25% stake in a travel booking JV with Expedia Inc, its founder and group chief executive officer (CEO) Tan Sri Tony Fer-nandes said.

The airline will also consider the sale of stakes in its food, engi-neering and duty-free businesses in the future, although no talks on those have begun, Fernandes said.

“We are going to special div-idend those things out,” he told Reuters after a media briefi ng on the SATS deal.

“There is a whole pipeline of those assets. We do joint ventures

and eventually we will dispose of those joint ventures. Th ey are not core. But the relationship will al-ways stay.”

Earlier this year, AirAsia got US$100 million from the sale of a 50% stake in aviation academy Asian Aviation Centre of Excellence to CAE International Holding Ltd.

While Fernandes did not give details on the special dividend, an-alysts at Kenanga Investment Bank Bhd said it could be up to 11 sen a share after the SATS deal.

Th e optimism drove up the air-line’s shares by 5%, or 16 sen, to a close of RM3.34 yesterday, their biggest daily percentage rise since May.

Fernandes said he hoped to complete the sale of the leasing business, which two sources in March valued at US$900 million, by the end of the year.

He said talks with potential buyers had dragged on because AirAsia wanted to ensure it had the right balance between receiv-ing a high upfront price and en-suring its leasing costs were rea-

BY A D A M A Z I Z

KUALA LUMPUR: AirAsia Bhd shares rose in active trading yesterday after an assurance by founder Tan Sri Tony Fernandes that the budget airline will stick to its promise to reward share-holders with special dividends.

Th e stock rose 16 sen or 5.03% to RM3.34, giving the budget air-line a market capitalisation of nearly RM11.2 billion. A total of 16.33 million shares changed hands during the day.

On Monday, AirAsia announced a joint venture (JV) with Singapore Changi Airport gateway services and food solutions provider SATS Ltd. Th e JV will involve share swaps, and share sale worth S$119.3 mil-lion (RM370.62 million) by AirAsia to SATS.

“Delivering to shareholders what we promised. Special div-idends. Strategy is clear. Create business from assets either phys-ical or digital. Get a JV business partner to run and grow busi-ness,” Fernandes said on Twitter after the announcement.

Reuters meanwhile reported that AirAsia plans to sell more stakes in non-fl ying business-es to fund special dividends to shareholders.

Upon conclusion of the JV deal by end-November, AirAsia will own 40% of SATS subsidiary SATS Ground Services Singapore

AirAsia shares up on special dividend pledge

Pte Ltd. On the other hand, SATS will own 49% in AirAsia’s Malay-sian ground handling arm, Ground Team Red Sdn Bhd (GTR).

AirAsia’s ground handling oper-ations in Th ailand, Indonesia and the Philippines will also be inject-ed into the JV in future, said CIMB Research in a note yesterday.

Th e research house highlighted two other ongoing negotations by AirAsia for the sale of equity stakes in its leasing arm and its online trav-el agency, worth a combined RM1.03 per share.

“AirAsia is still negotiating the sale of around a 70% stake in Asia Aviation Capital Ltd, at a whole-company valuation of some US$1 billion (RM4.23 billion), and also a sale of its remaining 25% interest in AAE Travel Pte Ltd for

around US$100 million in our estimate,” said CIMB Research.

“We are raising our target price to RM3.67, adding an additional special dividend per share (DPS) of 11 sen arising from the sale of GTR, taking the expected total special DPS to RM1.27.

“Th e core earnings of the AirA-sia group have been valued at nine times 2018 price-to-earnings ratio (PER), which is low relative to the low-cost carrier sector av-erage of 15 times,” it said.

In a separate note, PublicIn-vest Research viewed AirAsia’s JV with SATS and the GTR share sale as positive for the group.

“We view the disposal of its ground handling services busi-ness positively as it helps to real-ise the underlying value of non-core assets within the group, as well as to improve the group’s cash fl ows and strengthen its bal-ance sheet.

“AirAsia will be realising a gain on disposal of RM365.7 million in the fourth quarter ending Dec 31, 2017, boosting its headline profi t by 23.6%,” said the research house.

Meanwhile, CIMB Research said that the long-term earnings impact from the JV “may be neutral”.

“While ground handling is currently treated as part of its costs, in future AirAsia will have to enter into arms-length com-mercial contracts with GTR for its ground handling needs.”

BY A D A M A Z I Z

KUALA LUMPUR: Measures and structural reforms proposed in Budget 2018 to enhance Ma-laysia’s productivity should be implemented in a sustained manner to turn around the na-tion’s weak structural story, said Morgan Stanley Asia Pacifi c Re-search.

In a report yesterday, the re-search house noted Malaysia’s strategy to sustain growth by im-proving the quality of human cap-ital and spurring productive capi-tal expenditure since the country “can no longer capitalise on low labour cost arbitrage”.

“In our view, Malaysia’s me-dium-term structural story is not compelling and is one of the weakest in Asean, given the erosion in its non-commodity competitiveness over time.

“Structural reforms will take time to yield productivity gains and sustained implementation would be needed to turn around Malaysia’s weak structural story,” said Morgan Stanley.

Th e research house also re-ferred to the cyclical nature of pre-election budgets which fea-

‘Budget 2018 structural reforms need sustained implementation’

ture feel-good initiatives such as tax rate cuts, special payouts and toll removals.

“Historically, sequential mo-mentum in domestic demand components such as private consumption tends to improve in the run-up to elections — likely because of fiscal meas-ures — before subsequently tapering.

“We believe the proposed budget measures are likely to lead to a repeat of such growth patterns around the election cy-cle,” it added.

Overall, Morgan Stanley said the government appears to be balancing between the need to maintain fiscal consolidation and supporting growth at the same time.

“Th e fi scal defi cit is expected to narrow in 2018, with revenue growth expected to pick up slight-ly, while expenditure growth is expected to moderate.

“Th e shift in expenditure mix — such as towards higher allo-cation for subsidies and social assistance — would likely ben-efit economic segments such as consumption,” added the re-search house.

sonable in the future.“I think now we have got a very

good deal which is a win-win situ-ation,” he said, without identifying the buyer.

Fernandes said he would prefer for AirAsia to keep a stake in the business rather than sell it entire-ly as it was doing with the SATS JV, but it was a decision for the board.

As part of the SATS deal, AirAsia will receive a 40% stake in ground handling at the new Terminal 4 at Singapore’s Changi Airport, while SATS will get a 49% stake in AirAsia’s Malaysian ground handling unit.

The pair will be targeting third-party ground handling con-tracts in Malaysia, and possibly in Indonesia, Th ailand and the Phil-ippines at a later date, SATS CEO Alex Hungate said.

“We get to use those assets for a broader base of customers and we get a better return on assets,” he said.

AirAsia has ground handling operations at 15 airports in Malay-sia but no third-party contracts at present. — Reuters

BY C H E S T E R TAY

KUALA LUMPUR: Moody’s In-vestors Service has downgraded the issuer rating for Sime Darby Bhd, which is in the midst of a demerger, to Baa3 from Baa1, with a stable rating outlook.

“Th e downgrade refl ects a sig-nifi cant reduction in Sime Dar-by’s scale and cash fl ow, and in particular, a weakening in its business profi le, because it can no longer benefi t from the diver-sifi cation aff orded by its plan-tation and property business-es, which are more profitable than the rest of its operations,” Moody’s vice-president and sen-ior analyst Jacintha Poh said in a statement yesterday.

Th e rating action concludes its review of Sime Darby’s rating for downgrade, which was ini-tiated on Feb 3, after the group announced a plan to create three standalone businesses. Under the move, the group will retain its motor, industrial, logistics and other businesses, while listing its plantation (Sime Darby Planta-tion Bhd) and property (Sime Darby Property Bhd) divisions on Bursa Malaysia. The group expects the demerger to be com-pleted by end-2017.

Moody’s believes Sime Darby’s Baa3 rating will be supported by its strong global positioning within its motor and industrial businesses, where it has a long operating track record and en-joys a broad presence across the Asia-Pacifi c.

Moody’s said Sime Darby has the second-largest Bayer-

Moody's downgrades Sime Darby to Baa3 on demerger

ische Motoren Werke Aktieng-esellschaft (BMW) dealership globally and the third-largest Cat-erpillar Inc dealership globally. “Looking ahead, we expect Sime Darby will maintain market lead-ership positions for its motor and industrial businesses, supporting stable leverage and interest cov-erage ratios within its Baa3-rating threshold,” Poh said.

Moody’s also expects Sime Darby to keep a heavy reliance on short-term funding, though refi -nancing risk is partially mitigated by Sime Darby’s superior access to funding, given its ownership by government-linked shareholders.

As at Sept 30, Sime Darby was 6% directly owned by Permoda-lan Nasional Bhd (PNB), 43% by Skim Amanah Saham Bumiput-era, 7% by other PNB-managed funds, and 11% by the Employees Provident Fund.

Meanwhile, the stable rating outlook refl ects Moody’s expec-tation that Sime Darby’s motor business will remain stable, while its industrial business will im-prove on the back of stronger coal prices.

Moody’s also expects Sime Dar-by to continue to demonstrate a disciplined financial policy, in-cluding low debt levels, though it said the rating is unlikely to be up-graded over the next 12-18 months, given its small scale and inherent cyclicality in its operations.

But a track record of maintain-ing stable cash fl ow and strong credit metrics with reduced reli-ance on short-term funding will lead to positive momentum for the rating, it added.

RM

2.0

2.5

3.0

3.5

4.0

Oct 10, 2016 Oct 31, 2017

AirAsia Bhd

RM3.34

6 H O M E B U S I N E S S WEDNESDAY NOVEMBER 1, 2017 • THEEDGE FINANCIAL DAILY

BAT shares down; Press Metal hits all-time highShare price movements come ahead of potential changes in FBM KLCI components

BY N E I LY S YA F I Q A H E U S O F F


BY A D A M A Z I Z

BY A N E T T E A PA P D U R AY

KUALA LUMPUR: After seven straight quarterly losses, Malay-sia Marine and Heavy Engineering Holdings Bhd (MHB) reported a net profi t in the third quarter ended Sept 30, 2017 (3QFY17), on lower operating loss from its heavy engi-neering division, mainly from the fi nalisation of completed projects in the current quarter under review.

Th e group posted a net profi t of RM16.41 million in 3QFY17 com-pared to a net loss of RM4.53 mil-lion in 3QFY16. It posted an earn-ings per share of one sen compared to a loss per share of 0.3 sen a year

KUALA LUMPUR: Globetronics Technology Bhd’s net profi t jumped 57% year-on-year (y-o-y) to RM14.38 million in the third quarter ended Sept 30, 2017 (3QFY17), from RM9.15 million, as it recorded higher volume loadings and began production of new products for certain customers.

Its filing with Bursa Malaysia yesterday showed a net foreign ex-change (forex) gain of RM55,000 recognised during the quarter, com-pared to a loss of RM1 million a year ago, which also boosted earnings.

MHB returns to profi t in 3Qago. Th is was despite a lower rev-enue of RM215.35 million against RM333.49 million a year ago.

In a fi ling with Bursa Malaysia yesterday, MHB said revenue from its marine division declined 14% year-on-year to RM97.7 million in 3QFY17, mainly due to lower value and number of vessels repaired.

“Following the decrease in rev-enue, the operating profi t of RM17 million was RM2.9 million lower than the corresponding quarter’s profi t of RM19.9 million,” it said.

The group also saw its share of loss in joint ventures increase to RM1.3 million in 3QFY17 from RM600,000 a year ago, mainly due

to recognition of additional pro-duction costs and delays in ongo-ing projects.

For the cumulative nine months (9MFY17), MHB narrowed its net loss to RM13.9 million from RM14.63 million a year ago. Reve-nue fell 20.2% to RM708.46 million from RM887.66 million in 9MFY16.

On prospects, MHB said while crude oil prices have slightly im-proved following Opec’s and non-Opec members’ production com-mitment, the oil and gas outlook remains uncertain with height-ened geopolitical concerns. “Ro-bust shale production activities will keep oil price subdued over a

prolonged period,” it added.MHB said it remains committed

to its strategy in managing costs, op-timising its resources and improv-ing operational effi ciency to com-bat the challenging environment.

“Replenishment of order book from the marine segment and off -shore services is progressing and remains a priority. While the group has successfully secured several off shore fabrication projects dur-ing the period, the majority of the contributions will only be realised in 2018 and beyond,” it noted.

MHB shares closed up 6.5 sen or 8.61% at 82 sen yesterday, with a mar-ket capitalisation of RM1.31 billion.

Globetronics 3Q earnings jump 57% as revenue strengthensBY TA N X U E Y I N G Quarterly revenue grew 66% y-o-y

to RM87.01 million from RM52.46 million. Th is pushed its net profi t for the first nine months of 2017 (9MFY17) up 35% y-o-y to RM26.11 million from RM19.35 million. Rev-enue grew 18% to RM199.77 million from RM168.61 million.

Globetronics also highlighted its Southeast Asia segment recorded sales increase in 9MFY17, as com-pared with the preceding corre-sponding period.

It noted the improved revenue and earnings for 9MFY17 came from a pick-up in volume loadings

from the mass production of new products for certain customers and lower net forex loss of RM1.6 mil-lion, compared with RM3 million a year ago.

Additionally, it said it has recog-nised a higher gain in the disposal of property, plant and equipment worth RM1.1 million in the current cumulative period, compared with RM22,000 last year.

For the remaining quarter of FY17, the group expects to see “sig-nifi cant improvements in business and volume loadings” for all its major product portfolios.

“Th e group will continue to focus on escalating up the value chain and riding on new research and de-velopment initiatives in the design and development of new products with our key customers. Th e initi-atives are expected to result in the manufacturing of additional prod-ucts in 2018,” it said.

Globetronics fi nished at RM6.59 yesterday. Its share price was up four sen or 0.61% after some 1.30 million shares were traded, with a market capitalisation of RM1.88 billion. Th e counter has climbed some 84% in the past 12 months.

KUALA LUMPUR: British Ameri-can Tobacco (M) Bhd (BAT) shares were down yesterday, while Press Metal Aluminium Holdings Bhd hit a record high, ahead of potential changes in the component stocks of the FBM KLCI index.

BAT touched an intraday low of RM39.06 before closing at RM39.20, its lowest closing price since fi nish-ing at RM37.86 on Dec 30, 2011. At yesterday’s closing price, the com-pany’s market capitalisation stood at RM11.19 billion.

Press Metal hit an intraday high of RM4.50 before closing at RM4.43, an all-time high close, with a market capitalisation of RM16.7 billion.

In a note to investors yesterday, AmInvestment Bank highlights the possibility of BAT being removed from the FBM KLCI as a compo-nent stock. Th e research fi rm said there are two possible scenarios of BAT being removed from the index, according to FTSE Bursa Malaysia Index Series’ ground rules.

Under the fi rst scenario, BAT is removed if its market capitalisa-tion ranking of eligible securities drops to 36 or lower. As of Mon-day, BAT’s market capitalisation was ranked 36th.

In the second scenario, BAT is replaced as the lowest ranked com-ponent security by a new security. Th is occurs if the market capitali-sation ranking of eligible securities rises to 25 or higher. As of Monday,

Press Metal’s market capitalisation was ranked 24th.

AmInvestment said the market capitalisation ranking will be deter-mined based on the last trading day of November — on Nov 30. “Mean-while, the eff ective replacement will take place on the trading day after the third Friday of December — on Monday, Dec 18,” it said.

However, AmInvestment point-ed out the share price performance

tied to the inclusion and exclu-sion of the FBM KLCI index may be heavily obfuscated by compa-ny-specifi c factors.

It cited the case of SapuraKen-cana Petroleum Bhd (now known as Sapura Energy Bhd), replaced by IJM Bhd as a component stock on Dec 19, 2016 after the former’s market capitalisation ranking fell to 37th spot.

“Notably, the subsequent altera-tion did not have the expected im-pact. In fact, the opposite occurred with Sapura outperforming IJM on every basis measured — ab-solute returns, relative returns of FBM KLCI and relative return to sector benchmarks,” said the re-search fi rm.

AmInvestment has a “sell” call on BAT, with a fair value of RM36.70. “Aside from the potential capital market impact on BAT, we think that perpetual regulatory hurdles and disruptive substitute tobacco products do not justify its lofty val-uations, with forward price earnings of 19.8 times versus the historical average of 17.7 times,” the fi rm said.

RM

38

42

46

50

Nov 1, 2016 Oct 31, 2017

British American Tobacco (M) Bhd

RM39.2

RM

1

2

3

4

5

Nov 1, 2016 Oct 31, 2017

Press Metal Aluminium Holdings Bhd

RM4.43

KUALA LUMPUR: Benalec Holdings Bhd is selling sev-en leasehold plots measur-ing 216,427 sq m at Kelebang, Melaka, for RM100.17 million in cash.

In a filing with Bursa Ma-laysia yesterday, Benalec said its indirect wholly-owned subsidiaries — Sentosa-cove Development Sdn Bhd, Oceanview Realty Sdn Bhd, and Strategic Cove Sdn Bhd — entered into a sale and purchase agreement with the purchaser Titanium Hallmark Sdn Bhd.

Under the deal, Benalec ex-pects to realise a net gain of RM24.7 million representing earnings per share of about three sen apiece. Proceeds from the land sale, Benalec said, will be used to fi nance its ongoing reclamation projects and to meet its working capital re-quirements.

“Th e disposal is in Benalec’s ordinary course of business. Th e disposal provides an av-enue for Benalec to monetise and crystallise the value of its land bank and at the same time, improve the company’s cash fl ow,” it added.

KUAL A LUMPUR : Theta Edge Bhd, a subsidiary of Lembaga Tabung Haji, has been slapped with an unu-sual market activity (UMA) query from Bursa Malaysia on the sharp rise in its stock price recently.

In a statement yesterday, Bursa said investors are advised to take note of Theta Edge’s reply to the UMA query when making their investment de-cision.

Theta Edge shares rose as much as 46.7% to its intra-day high of 67.5 sen in early trade, before closing 11 sen or 23.91% higher at 57 sen — its highest closing since May 21 this year — with 14.67 million shares done. It was one of the top gainer counters on Bursa yesterday, with a market capi-talisation of RM68.64 million.

Th e stock has been trading in a 52-week range of 25 sen to 68 sen.

For the second quarter end-ed June 30, 2017, the infor-mation and communications technology service provider reported a net loss of RM1.89 million, versus a net profi t of RM135,000 a year ago. Revenue fell 41.6% to RM22.79 million from RM38.99 million.

Benalec sells seven Melaka plots for RM100.17m

Bursa Malaysia slaps Theta Edge with UMA


UEM Sunrise’s land sale to improve net gearingTh e disposal allows it to unlock the value of its vast land banks

KUALA LUMPUR: Gagasan Nadi Cergas Bhd, a building construc-tion player, is seeking to list on the ACE Market of Bursa Ma-laysia to diversify into property development.

In its draft prospectus, Gaga-san Nadi said it intends to issue 140 million new shares, equiva-lent to 18.6% of its enlarged share capital. Of this, 100 million shares will be allocated to selected in-vestors by way of private place-ment, 20 million shares to the Malaysian public, and another 20 million shares to eligible di-rectors and employees.

Th e group is also off ering to sell 60 million existing shares, equivalent to 7.97% of its en-larged share capital, to selected investors via private placement.

Th e total amount of proceeds from the initial public off ering and the issue price of the shares were not disclosed in the draft prospectus. The proceeds are earmarked for future property development activities, capi-tal expenditure for the cooling system for the supply of chilled water to a shopping mall, besides working capital for a construc-tion project.

“We intend to leverage from our competency in building con-struction to carry out property

Gagasan Nadi seeks listing on ACE Market to diversify into property development


KUALA LUMPUR: The net gear-ing of UEM Sunrise Bhd is expect-ed to improve to 0.42 times from 0.47 times as at its second fi nan-cial quarter ended June 30, 2017 (2QFY17), with the sale of 163.92 acres (66.34ha) of land in Iskandar Puteri, Johor, to Country View Bhd for RM310 million, according to analysts tracking the stock.

MIDF Research, in a note yes-terday following UEM Sunrise’s announcement on Monday it had inked an agreement for the pro-posed sale, said the disposal should improve UEM Sunrise’s balance sheet, with net gearing estimated to improve to 0.42 times from 0.47 times as at end of 2QFY17.

PublicInvest Research con-curred, expecting the gearing im-provement on completion of the deal by 3QFY18, though it said no details on potential profi t have been disclosed as yet.

It also said the price of RM310 million or RM43.4 per sq ft for the land is within the valuations carried

out on the plot by Asian Pullprop Sdn Bhd of RM307 million and Jones Lang Wootton of RM300 million.

“We are positive about this lat-est land disposal as this would al-low the group to monetise its vast land bank in Iskandar Johor and redeploy the capital either to pare down its debt or invest in new land bank,” PublicInvest said.

Hong Leong Investment Bank (HLIB) Research deems the pric-ing “fair”. “Th e pricing works out to be RM43.4 per sq ft, which is fair as compared with the previous trans-acted price of RM40 per sq ft dur-ing the land exchange with Kuala Lumpur Kepong Bhd (KLK) when forming the joint venture (JV) back in 2014,” it said in a note to clients.

In 2014, KLK and UEM Sunrise formed two JV companies — Scope Energy Sdn Bhd and Aura Muhibah Sdn Bhd — to undertake proper-ty development projects in Johor.

HLIB Research said the sale is in line with UEM Sunrise’s strategy as a master developer in Gerbang Nusajaya to unlock the land val-ue and spur future growth. “Post

disposal, UEM Sunrise still owns about 6,400 acres of land within the Iskandar Puteri region,” it said.

Nevertheless, MIDF Research is "neutral" about the land disposal, saying UEM Sunrise has always been exploring ways to monetise its vast land banks in Iskandar Puteri.

“UEM Sunrise has a vast land-bank of more than 10,000 acres in Johor while [the] remaining acreage for Iskandar Puteri stood at 6,552 acres, which makes up 50% of the group’s total land bank. Th e land dis-posal allows UEM Sunrise to unlock value of its vast land banks,” it added.

But pending further details from management, MIDF Research is maintaining its earnings forecast for UEM Sunrise — a core net in-come of RM240 million for FY17 and RM199 million for FY18.

It is also keeping its “neutral” call on UEM Sunrise with a target price (TP) of RM1.24, premised on the fl at-tish property outlook in Johor, while PublicInvest maintained its “outper-form” call on the stock with a TP of RM1.50, and HLIB Research kept its "hold" call, with a TP of RM1.18.

development business to expand our revenue stream”, said Gaga-san Nadi in the document.

Th e group has identifi ed three property developments, two of which are 1Malaysia Civil Serv-ants Housing Project (PPA1M) developments within Kuala Lumpur and Selangor, and the other a mixed development in Putrajaya for the Asean Football Federation.

Th e group commenced busi-ness activities in 1995 as a con-tractor of building construction work under the name of Nadi Cergas.

Group managing director Wan Azman Wan Kamal and execu-tive director Datuk Seri Subahan Kamal, a former Umno state as-semblyman of Selangor, acquired shares in the group in 2000.

Gagasan Nadi is currently engaged in the construction of non-residential and residen-tial buildings, mostly in public sector projects. Other than stu-dent hostels, government offi c-es, campuses for public tertiary education institutions, aircraft hangars and training institu-tions, the company constructs buildings under government initiative programmes, such as PR1MA Homes (1Malaysia Peo-ple’s Housing Programme), Ru-mah Selangorku, Felda housing and PPA1M programmes.

BY TA N X U E Y I N G

8 ST O C KS W I T H M O M E N T U M WEDNESDAY NOVEMBER 1, 2017 • THEEDGE FINANCIAL DAILY


Stocks with momentum were picked up using a proprietary algorithm by Asia Analytica Data Sdn Bhd and fi rst appeared at www.theedgemarkets.com. Please exercise your own judgement or seek professional advice for your specifi c investment needs. We are not responsible for your investment decisions.

Our shareholders, directors and employees may have positions in any of the stocks mentioned.

P RO P E RT YSHARES in Guan Chong Bhd (fundamental: 0.6/3, valuation: 0.5/3) triggered our momen-tum algorithm for the fourth time since July this year. It closed fi ve sen or 2.63% up at RM1.95 yesterday, after 1.69 million shares were trad-ed, compared with its 200-day average trading volume of 552,983.

Last month, the Johor-based manufacturer of cocoa ingredients announced it was acquiring assets of two bankrupt New Jersey companies, Cocoa Services LLC and Morgan Drive Associ-ates LLC, for US$8.39 million (RM35.43 million).

Th ese assets include a fully furnished build-ing, plants for butter melting, butter deodoris-ing, and liquor melting, all intellectual property assets, and fi nished goods and ongoing work.

Guan Chong will fund the buy via inter-nal funds and banking facilities, with the buy expected to be fi nalised in the fourth quarter ending Dec 31, 2017.

For the fi rst half of fi nancial year 2017 end-ed June 30, the company’s net profi t grew 18% to RM28.64 million from RM24.36 million a year ago.

SHARES in HeiTech Padu Bhd (fundamental: 0.8/3, valuation: 2.0/3), which triggered our momentum algorithm yesterday for the ninth time this year, settled 1.5 sen or 1.66% higher at 92 sen, with 1.62 million shares done, ver-sus its 200-day average volume of 233,573.

Th e information technology systems and technology services provider made three project win annoucements in the month of October.

On Monday, HeiTech Padu said it has secured a three-year contract from the im-

migration department for the MyIMMS Ap-plication Maintenance Service, for a sum of RM42.43 million.

Last week, it said it won an RM19.2 million contract to undertake mechanical and elec-trical works for renewable energy substations in Perak, scheduled to end on May 28, 2018.

Earlier, on Oct 17, the company said it was awarded with three contracts to estab-lish high voltage interconnection facilities for three solar plants in Kedah, Melaka, and Terengganu for a sum of RM75.16 million.

SHARES in Menang Corp (M) Bhd (fundamen-tal: 0.45/3, valuation: 1.10/3), which closed unchanged at 90.5 sen yesterday, triggered our momentum algorithm for the fourth time this year. It saw some 201,100 shares done, versus its 200-day average volume of 491,002.

For the fi nancial year ended June 30, 2017 (FY17), Menang Corp registered a 65% year-on-year decline in net profi t to RM11.31 mil-lion from RM32.22 million, while revenue decreased 41% to RM109.57 million from

RM186.13 million.In its FY17 annual report published yester-

day, the company said it is currently fi nalising construction accounts for its private fi nance initiative (PFI) projects, and will be consist-ently receiving availability and maintenance charges for the next 18 years.

Moving forward, the group is also planning to restructure fi nancing for its PFI projects to save on interest costs in FY18, besides seek-ing more such projects with the government.

KUALA LUMPUR: Eastern & Oriental Bhd (E&O) expects its third joint venture (JV) project with Japanese real estate developer Mitsui Fudosan Co Ltd on Jalan Conlay here to be completed by the end of next year.

“Th e design plans are still being fi nalised but it’s going to be another iconic project that we will unfold when the time is right,” said E&O’s managing director Kok Tuck Cheong yesterday.

Th e project, launched in 2015, is a joint development of a plot of freehold land meas-uring 5,812 sq m at the intersection of Jalan Conlay and Jalan Kia Peng in the city centre.

E&O fi rst collaborated with Mitsui Fu-dosan in a marketing collaboration in 2011, followed by a JV development in 2013 to build Th e Mews on Jalan Yap Kwan Seng, some 2.6km from Jalan Conlay.

Kok, who was speaking to reporters dur-ing a ceremony to commemorate the com-pletion of Th e Mews, said the Th e Mews — with an estimated gross development value of RM469 million — features 256 custom-de-signed units with a built-up area of between 922 sq ft and 2,619 sq ft. Th e property has received a take-up rate of 75% so far, with most buyers being foreigners.

When asked about the recently an-nounced Budget 2018, Kok said it has giv-en incentives for property developers to expand further towards aff ordable housing.

KUALA LUMPUR: Hap Seng Consoli-dated Bhd is eyeing an annual rental in-come of up to RM21 million from its new commercial building Menara Hap Seng 3 here on offi ce-space demand from for-eign multinational companies (MNCs).

Th e planned 26-storey Menara Hap Seng 3 along Jalan Sultan Ismail here has a net lettable area of 240,000 sq ft.

Hap Seng Land Sdn Bhd chief operating offi cer — property division (West Malaysia) David Khor said construction cost for the project is about RM312 million, which will be funded fully via internal funds.

“We hope to get close to full take-up

E&O to complete third Mitsui JV by end-2018BY S YA H I R A H S Y E D J A A FA R

BY W O N G E E L I N

Hap Seng Consolidated eyes foreign MNCs for Menara Hap Seng 3

GUAN CHONG BHD Valuation score*Fundamental score**TTM P/E (x)TTM PEG (x)P/NAV (x)TTM Dividend yield (%)Market capitalisation (mil)Shares outstanding (ex-treasury) milBeta12-month price range

0.500.60

18.9710.212.051.58

908.04477.91

0.640.87-1.90

*Valuation score - Composite measure of historical return & valuation**Fundamental score - Composite measure of balance sheet strength& profitabilityNote: A score of 3.0 is the best to have and 0.0 is the worst to have

HEITECH PADU BHD Valuation score*Fundamental score**TTM P/E (x)TTM PEG (x)P/NAV (x)TTM Dividend yield (%)Market capitalisation (mil)Shares outstanding (ex-treasury) milBeta12-month price range

2.000.808.30

-0.525.52

91.61101.23

0.610.49-0.91


MENANG CORP (M) BHD Valuation score*Fundamental score**TTM P/E (x)TTM PEG (x)P/NAV (x)TTM Dividend yield (%)Market capitalisation (mil)Shares outstanding (ex-treasury) milBeta12-month price range

1.100.45

21.37(0.33)

0.79-

241.73267.11

0.450.69-1.00


GUAN CHONG BHD (-ve)

HEITECH PADU BHD (-ve)

MENANG CORP (M) BHD (-ve)

To encourage construction of more aff ordable homes, Prime Minister Datuk Seri Najib Razak announced under the budget that the 1Malaysia People’s Hous-ing Programme (PR1MA) step-up fi nanc-ing scheme would be extended to private developers.

Under the scheme, which was limited to buyers of PR1MA homes, housebuyers are allowed to take higher end-fi nancing as the loan instalments will be lower for the fi rst fi ve years before being “stepped-up” from the sixth year.

“Th is (the budget) has provided a big step in increasing home ownership and developers too will be encouraged to go towards this segment. Th ough we are more focused on premier lifestyle properties, we acknowledge the eff orts made by the gov-ernment,” Kok said.

Meanwhile, Mitsui Fudosan has con-tinued to expand its presence in Malaysia, according to Mitsui Fudosan Malaysia Sdn Bhd’s managing director, Takehito Fukui.

Th e group has two commercial projects here, the Mitsui Outlet Park KLIA Sepang at Sepang, and its upcoming mall — tentative-ly named Mitsui Shopping Park LaLaport Kuala Lumpur — based at the Bukit Bintang City Centre development, which is slated to open its doors by 2021.

On Bursa Malaysia, E&O shares slid one sen or 0.65% to settle at RM1.54 with a mar-ket capitalisation of RM1.98 billion.

rate within the fi rst year after completion of construction (of Menara Hap Seng 3),” Khor told reporters after Menara Hap Seng 3’s ground-breaking ceremony here yesterday.

Hap Seng Land is the property arm of Hap Seng Consolidated, the businesses of which include oil palm plantation and car dealership.

Khor said the duration for Menara Hap Seng 3’s construction is 26 months for completion by end of 2019.

He added that Hap Seng Consolidat-ed’s Menara Hap Seng 1 and Menara Hap Seng 2 along Jalan P Ramlee here are close to full occupancy, hence the development of Menara Hap Seng 3.

(From left) E&O marketing and sales senior general manager Wayne Wong, Kok, Fukui and Mitsui Fudosan (Asia) Malaysia Sdn Bhd residential department general manager Shigeki Komi at the ceremony to commemorate the completion of The Mews yesterday. Photo by Suhaimi Yusuf

B R O K E R S’ C A L L / T E C H N I C A L S 9WEDNESDAY NOVEMBER 1, 2017 • THEED G E FINANCIAL DAILY

Market set to stage technical rebound

Apex Healthcare’s new plant seen to double production capacity

BY B E N N Y L E E

Daily FBM KLCI chart as at October 27, 2017.

The market was most of the time bearish last week but a strong re-bound last Friday snapped a two-week decline. The market

rebounded strongly as a positive re-action to the tabling of the national budget. One of the highlights was a reduction in income tax rates and this will give the people more mon-ey to spend, save or invest.

The benchmark FBM KLCI in-creased 0.3% in a week to 1,746.13 points last Friday, after rebounding from a low of 1,736.00 points. Yes-terday, the index closed at 1,747.92 points.

Trading volume declined last week as market participants were staying on the sidelines ahead of the national budget. Th e average daily trading volume declined to 2.7 billion shares from 3.1 billion shares two weeks ago. Th e average daily trading value declined to RM2.4 billion from RM2.8 billion.

Foreign institutions remained net sellers last week. Net selling from foreign institutions was RM92 mil-lion, and net buying from local in-stitutions and local retailers was RM79 million and RM13 million respectively.

In the FBM KLCI, gainers parred decliners. However, FBM KLCI component heavyweight Tena-ga Nasional Bhd’s (TNB) bullish performance lifted the index. Th e top gainers for the week were TNB (+4.5% in a week to RM14.96), Axi-ata Group Bhd (+3.5% to RM5.34), and Maxis Bhd (+3.2% to RM5.89).

Th e top decliners were YTL Corp Bhd (-6.5% to RM1.29), British American Tobacco (Malaysia) Bhd (-4.4% to RM40.50), and Genting Malaysia Bhd (-4% to RM5.02).

Global market performances were generally bullish last week. In Asia, the bullish performance was led by Japan’s Nikkei 225 in-dex that rose 2.6% in a week to a historical high at slightly above 22,000 points. Th e US market was fi rm and near historical high. Th e European markets were led by France’s CAC40 index, which rose to its highest level since January 2008, and Germany’s DAX, which climbed to a historical high.

The US dollar continued to

strengthen against major curren-cies. Th e US dollar index increased from 93.7 points two weeks ago to 94.8 points last Friday. Th e ringgit weakened against the greenback from RM4.22 to RM4.24 to a US dollar.

Prices of major commodities were bullish in the past one week. However, the Commodity Exchange gold price fell 0.6% in a week to US$ 1,274.60 (RM5,391.56) an ounce last Friday. Crude oil (Brent) jumped 4.4% to US$60.50 per barrel, the high-est since July 2015. Locally, crude palm oil futures increased 2.7% in a week to RM2,817 per tonne.

The bearish momentum was strengthening last week but the strong rebound last Friday caused the bearish momentum to ease. However, the market was still bear-ish as the FBM KLCI was not able to climb above the broken support level at 1,750 points.

Chart-wise, the FBM KLCI re-

mained bearish below the short-term 30-day moving average and the Ichimoku Cloud indicator. However, the index rebounded to the long-term 200-day moving average.

Th e bearish momentum eased. Th e Relative Strength Index and mo-mentum oscillator indicators contin-ued rebounding from their oversold levels and this indicated that the market was in a bargain-hunting mode. However, the moving average convergence divergence indicator was still below its moving average.

Last week, we expected some technical rebound as the index was at its six-month low. However, the market sentiment was bearish and any rebound would also attract sell-ers like what we have seen in the past one month. At 1,750 points, sellers could be attracted.

Th e bearish trend reversal from the double-top chart pattern for-mation was still valid as the index was below the broken neckline of the pattern at 1,750 points. Hence-forth, we expect the FBM KLCI to test this level in the immediate term of a week.

If the FBM KLCI fails to over-come this level, then expect it to trend lower towards 1,710 points. However, we may see a possible change in trend as the index can climb above 1,750 points and stay above this level.

Th e above commentary is solely used for educational purposes and is the contributor’s point of view using technical analysis. Th e com-mentary should not be construed as investment advice or any form of recommendation. Should you need investment advice, please consult a licensed investment adviser.

Apex Healthcare Bhd (Oct 31, RM5.12)Initiate coverage with buy and a target price (TP) of RM6.10: Apex Healthcare Bhd is an integrated pharmaceutical company. We like the company for its solid earnings delivery and strong balance sheet (net cash of RM79 million). Th e new oral solid-dosage plant that will be

completed in the fi rst half of 2018 (1H18) and the recent European Union (EU) good manufacturing practice (GMP) certifi cation award are positive catalysts. We forecast a 2016 to 2020 earnings per share (EPS) compound annual growth rate (CAGR) of 18%.

Since being listed in 2000, Apex’s revenue and core net profi t had

Apex Healthcare Bhd

FYE DEC (RM MIL) 2015A 2016A 2017E 2018E 2019E

Revenue 526.9 581.3 628.4 694.8 777.5Ebitda 56.6 55.6 60.3 69.1 84.5Pre-tax profit 45.8 46.3 51.0 58.5 73.0Net profit 34.3 35.0 38.5 44.2 55.2EPS (RM) 0.29 0.30 0.33 0.38 0.47PER 17.4 17.1 15.5 13.5 10.8Core net profit 30.0 33.7 38.5 44.2 55.2Core EPS (RM) 0.26 0.29 0.33 0.38 0.47Core EPS growth (%) -9 12 14 15 25Core PER 19.9 17.7 15.5 13.5 10.8Net DPS (RM) 0.1 0.1 0.1 0.2 0.2Dividend yield (%) 2 2 3 3 4EV/Ebitda 9.3 9.3 8.8 7.8 6.1ROE (%) 11 11 12 13 15ROA (%) 9 9 9 9 11BPS (RM) 2.5 2.7 2.9 3.1 3.4PBR (x) 2.1 1.9 1.8 1.7 1.5Affin/Consensus (x) 1.00 1.09 1.29Sources: Company, Bloomberg, Affin Hwang forecasts

grown at 10% and 9% CAGRs, reach-ing RM580 million and RM33.7 million respectively in 2016. We forecast a top-line CAGR of 11% over 2016 to 2020, in line with the high-single-digit growth rate of the pharmaceutical industry.

Apex is currently building a new oral solid-dosage plant, named SPP NOVO, which is expected to double production capacity by 1H18. Apex has also been awarded EU GMP certifi cation, which is mandatory to penetrate into the EU and other de-veloped markets. Th e contribution from the new plant should be more meaningful from 2019 onwards and we forecast the manufacturing di-vision’s revenue to grow at a 15% CAGR over 2016 to 2020.

About 26% of Apex’s revenue is de-rived from its in-house brands while the rest is from third-party products. Going forward, Apex aims to increase the contribution of in-house prod-ucts, especially the Xepa-branded products once SPP NOVO is com-pleted. We forecast the contribution to rise up to 30% of total revenue by 2020. Th is should contribute posi-

tively to the bottom line as in-house products enjoy much better margins.

We initiate coverage with a “buy” rating and a 12-month TP

of RM6.10 based on a 2018 forecast price-earnings ratio of 16 times. — Affi n Hwang Investment Bank Research, Oct 31

The bearish momentum was

strengthening last week but the strong rebound last Friday caused the bearish

momentum to ease.

About 26% of Apex’s revenue is derived from its in-house brands while the rest is from third-party products.

1 0 B R O K E R S’ C A L L WEDNESDAY NOVEMBER 1, 2017 • THEEDGE FINANCIAL DAILY

Revival of construction sector drivers in Budget 2018

Earnings forecasts for Maybank remain the sameMalayan Banking Bhd (Oct 31, RM9.25)Maintain market perform with a target price (TP) of RM9.50: PT Maybank Indonesia (Maybank Indonesia) posted a nine-month financial year 2017 (9MFY17) net profi t of 1,449 billion rupiah (RM451.57 million) which im-proved 12% year-on-year (y-o-y). No dividends announced as ex-pected. Earnings forecasts for the Maybank Group are unchanged as we expect Maybank Indonesia’s FY17 profi t before tax contribution to be small at less than 10%.

Pending the group’s full-year re-sults next month, our TP of RM9.50 and market perform call are main-tained.

9MFY17 earnings improved 12% y-o-y to 1,449 billion rupiah as per-formances were healthy across the board. Th e improved performance was supported by falling impair-ment allowances of 15% to 1,340 bil-lion rupiah. Top line rose 5.2% y-o-y to 7,868 billion rupiah as both fund-and fee-based incomes registered commendable performance at 4% y-o-y and 8% y-o-y, respective-ly. Th e commendable fund-based growth of 4% y-o-y was supported by better loans of 4% y-o-y and on better net interest margin (NIM) which improved by 35 basis points (bps) to 5.2%. Better performance from fee-based income was driven mainly by gains in investment sales of 308% y-o-y to 478 billion rupiah as fee and commission income, as well as forex gains fell 34% y-o-y and 26% y-o-y, respectively.

Scicom (MSC) Bhd (Oct 31, RM1.89)Initiate coverage with buy and a tar-get price of RM2.36: Scicom (MSC) Bhd provides business process out-sourcing (BPO) to various corpora-tions as well as the back-end solution to the government’s one-stop visa centre for foreign students known as Education Malaysia Global Services (EMGS). Its serves end customers from 86 countries and derives 70% of its sales out of Malaysia.

Scicom was set up in 1997 as a call centre and has over the years evolved to be the one of the largest BPO companies in Malaysia and Sri Lanka. It hires 2,800 staff to serve some 50 customers from diff erent countries. Its diverse customer base includes companies from the gam-ing, aviation, telecommunication and consumer industries.

Scicom has not made any loss-es prior to and since listing. From financial year 2014 (FY14), the company included a new stream of income from the provision of back-end solutions to EMGS, which is under a multi-year concession, that started since 2013.

Although without a formal divi-dend policy, Scicom has been gen-erous with its dividend payout. Th e company has paid out more than 70% of its profi ts since FY14. We expect similar payout ratios going forward, which translates into an attractive yield of 4.8% for forecast-ed FY18F and FY19F.

Scicom’s share price has fallen from a high of RM2.40 to RM1.83 recently as investors anticipate nor-malised corporate tax rates upon expiry of its MSC status, which will impact its bottom line starting from the second quarter of FY18. — MIDF Research, Oct 31

Construction sectorMaintain overweight: Major sector drivers were more in focus in Budget 2018. We observe that rail, aff ordable housing, roads/highways and water infrastructure are major segments that would benefi t from the govern-ment’s high-impact projects initiative and spending next year. Th e RM210 billion compiled value of projects under Budget 2018 comprises rail and public transport (73%), rural infrastructure, private-fi nance ini-tiative and schools (19%), with the rest being roads, public housing, and water infrastructure.

Notably, major contracts that will be implemented within fi ve to eight years from 2018 are pub-lic transport/rail, including i) the RM55 billion East Coat Rail Link (ECRL), ii) the RM50 billion to RM60 billion Kuala Lumpur-Singa-pore High Speed Rail, iii) the RM40 billion MRT 3 (Circle Line) and iv) the RM9 billion Gemas-Johor Baru electrifi ed rail double track-ing (though it was not highlighted in the Budget). Th e RM32 billion MRT 2 (SSP Line) and RM9 billion

Malayan Banking Bhd

FYE DEC (RM MIL) 2016A 2017E 2018E

Net interest inc. 11,568 11,541 12,096Islamic banking inc. 4,189 4,875 5,054Non-interest inc. 6,506 5,846 6,622Total income 22,263 22,263 23,771Pre-tax profit 8,844 8,795 9,220Net profit (NP) 6,743 6,464 6,777Consensus NP 7,103.5 7,744.1EPS (RM) 67.8 65.0 68.2EPS growth (%) -3.1 -4.1 4.8DPS (RM) 52.0 50.1 52.5BV/share (RM) 6.9 7.5 7.8NTA/share (RM) 6.2 6.8 7.1ROE (%) 10.4 9.1 9.0PER (x) 13.6 14.2 13.6Price/Book (x) 1.50 1.37 1.31Price/NTA (x) 1.34 1.24 1.19Dividend yield (%) 5.6 5.4 5.7Source: Kenanga Research

Construction sector comparison

COMPANY RECOM. TARGET MKT CORE P/E 3-YEAR RECURRING EV/EBITDA DIVIDEND PRICE PRICE CAP (X) EPS P/BV ROE (X) YIELD (LOCAL (LOCAL (US$ CAGR (X) (%) (%) CURR) CURR) MIL) CY2017 CY2018 (%) CY2017 CY2018 CY2017 CY2018 CY2019 CY2017 CY2018 CY2017 CY2018

Gamuda Add RM5.20 RM6.15 3,009 11.9 9.8 14.1 1.62 1.54 8.9 10.0 11.2 20.0 16.4 2.3 2.3IJM Corp Bhd Add RM3.26 RM3.87 2,788 17.3 16.6 4.6 1.58 1.54 9.0 9.4 10.5 18.4 15.9 1.8 1.7Muhibbah Engineering Add RM2.89 RM3.36 327 10.6 10.0 12.7 1.31 1.24 12.7 12.8 13.5 4.3 3.7 1.5 1.5Protasco Add RM1.17 RM1.43 117 18.6 11.7 10.2 1.39 1.43 7.1 12.1 16.4 18.2 13.8 3.2 5.1Salcon Hold RM0.42 RM0.45 67 12.9 11.8 29.7 0.57 0.57 4.5 4.8 4.8 0.6 0.6 4.7 5.9Sunway Bhd Add RM1.69 RM2.09 1,933 14.4 13.6 3.5 1.37 1.30 8.2 9.9 10.2 17.9 15.6 1.5 1.5WCT Holdings Hold RM1.61 RM1.97 534 14.8 14.3 29.6 0.68 0.66 4.6 4.7 5.0 35.2 33.1 1.5 1.5YTL Corp Hold RM1.29 RM1.46 3,268 40.2 15.2 na 0.99 0.99 2.4 6.5 8.9 12.6 10.5 5.7 6.6Average 15.3 13.5 7.1 1.57 1.51 8.4 9.2 10.2 18.0 15.1 1.9 1.9 Source: CIMB Research, Company

A blip in the 9MFY17 performance was higher operating expenditure of 8% y-o-y to 4,501 billion rupiah which pushed cost-to-income ratio by two percentage points to 57%.

Loans improved y-o-y by 80bps to 4% y-o-y (versus system loans of

about 8% y-o-y) driven by consum-er banking (+41% y-o-y) which con-tributed 40% of its loan book. Loans from corporate banking fell 28% y-o-y and contributed 20% of its loan book (third quarter fi nancial year 2016 [3QFY16]: 29%). Slight uptick in its loan-to-deposit ratio to 93% was recorded as loans out-paced deposits (+3% y-o-y versus system growth of about 9% y-o-y.

On a positive note, despite de-posits outpacing current account, savings account (Casa) growth (+2% y-o-y) Casa ratio was still strong and stable at 38%, which supported the high NIM. We also

believed that the strong NIM was further supported by better asset pricing as average lending yields rose 25bps y-o-y versus falling cost of funds at -52bps y-o-y.

Asset quality improved, albeit slightly as gross impaired loans fell 3bps to 4% and with impairment allowances falling, credit cost was down 36bps to 1.6%.

Earlier this year, management guided for a cautious 2017 and ex-pected to benefi t from Indonesia’s infrastructure spending, Tax Am-nesty bill and stable interest rates.

While interest rates are stable, the expected pick-up in infra-structure spending is still want-ing; hence, the poor performance of business lending. We expect asset quality to be stable for FY17 with lower credit costs as the expected spike in non-performing loans is unlikely to happen with stable in-terest rates and infl ation cost under control. While loan growth has been challenging (we expect a growth of 3%-4% y-o-y versus FY16: 5.6%) we expect better performance in NIM from better asset pricing and strong Casa.

Earnings forecasts for Maybank Group are left unchanged as Maybank Indonesia’s contribu-tion to the overall group’s PBT is relatively small (FY16 and fi rst half FY17 [1HFY17]: less than 10%). As 3QFY17 results were poor with soft-er loans in 1HFY17, we are inclined to believe that Maybank Indonesia’s pre-tax contribution will be less than 10% of the group’s FY17 pre-tax. — Kenanga Research, Oct 31

LRT 3 (Bandar Utama-Klang Line), which have largely been awarded, will ramp-up construction works next year.

Th e MRT 3 (Circle Line) project is targeted to be completed in 2025, two years earlier than the original target of 2027. Our cost estimate based on an assumed 40km align-ment and MRT 2-benchmarked RM1 billion cost/km puts an RM40 billion estimated price tag for the

project, which could be up for cab-inet approval by mid-2018, going by our previous industry checks. Funding mechanism for the MRT 3 was not detailed. MRT 3 will be the fi nal high-capacity rail network in Kuala Lumpur.

Compared with our compila-tion for Budget 2017, the combined allocation for public housing pro-jects surged more than eightfold to RM3.5 billion under Budget 2018,

while the budget for water/elec-tricity infrastructure surged 60% to RM3.1 billion. Allocation for the construction of non-tolled roads (excluding road maintenance and the Pan Borneo Highway) surged 81% to RM2.4 billion. Separately, the RM2 billion allocation for Pan Borneo Highway is likely to focus on the 11 awarded packages in Sar-awak and the fi ve awarded in Sabah.

Overall, Budget 2018 places pri-

ority on outstanding major rail con-tracts, mainly the RM55 billion ECRL. Gamuda remains our top big-cap rail pick, while IJM Corp could emerge as one of the early rail winners. Pro-tasco could benefi t from the public housing contracts, while the surge in water infrastructure allocation could be positive for Salcon. Maintain “overweight”. Delays and funding is-sues are key downside risks. — CIMB Research, Oct 31

Scicom pays out generousdividend yieldof 4.8%

Management expects to benefi t from Indonesia’s infrastructure spending,

Tax Amnesty bill and stable interest rates.

H O M E 1 1WEDNESDAY NOVEMBER 1, 2017 • THEED G E FINANCIAL DAILY

PUTRAJAYA: The Court of Ap-peal upheld a High Court decision which overturned the University of Malaya’s (UM) disciplinary action against fi ve of its former students for their involvement in a talk fea-turing Datuk Seri Anwar Ibrahim in October 2014.

A three-man bench, compris-ing Justices Datuk David Wong Dak Wah, Datuk Yaacob Md Sam and Datuk Zabariah Mohd Yu-sof, unanimously dismissed the appeal brought by UM students’ disciplinary committee, its appeal committee, its board of directors, its treasurer and the university with cost set at RM2,000.

Wong, who chaired the panel, held that there was no appeala-ble error made by the High Court judge. He made the decision af-ter hearing the submission from Mubashir Mansor representing UM, adding the court need not necessarily hear the submission from New Sin Yew who repre-sented the students.

On July 29, 2016, the Shah Alam High Court allowed a ju-dicial review fi led by the former students of the university against the disciplinary committee that found them guilty on disciplinary charges and imposed punishment of either suspension, a fi ne or a stern warning.

Th e students — former Persat-uan Mahasiswa Universiti Malaya president Fahmi Zainol and his then-committee members Saf-wan Shamsuddin, Adam Fistival Wilfrid, Haw Yu Hong and Khairol Najib Hashim — graduated last year and this year respectively.

Mubashir said he would seek instructions on whether to bring the matter to the Federal Court. — Bernama

Appeals Court upholds High Court decision on 5 ex-students

Noh Omar: Homebuyers lost RM6.2m in scamsProperty sale advertisements must now be approved by housing controller

BY A D E L A M EG A N W I L LY

KUALA LUMPUR: Th e urban wellbe-ing, housing and local government ministry (KPKT) has established a special committee to investigate af-fordable housing scams, which re-sulted in homebuyers losing RM6.2 million to unlicensed housing de-velopers.

Urban Wellbeing, Housing and Local Government Minister Tan Sri Noh Omar said the special com-mittee, which held its fi rst meeting on Sept 27, seeks, among others, to identify the gap between the Hous-ing Development (Control and Li-

censing) Act 1966 [Act 118] under the ministry’s jurisdiction, and the Consumer Protection Act 1999 (Act 599) under the jurisdiction of the do-mestic trade, cooperatives and con-sumerism ministry, which focuses on immovable assets or properties.

Noh was responding to a parlia-mentary question by Setiu member of parliament Datuk Che Moham-ad Zulkifl y Jusoh about fraud cases involving purchases of properties locally.

According to Noh, the National Housing Department received a total of 192 complaints related to frauds involving purchases of properties be-

tween Jan 1, 2013 and Oct 30, 2017. Of that, 107 cases have been solved while the remaining 85 are still pend-ing action.

On complaints filed with the Tribunal for Homebuyers’ Claim from Jan 1, 2014 to Sept 30, 2017, the agency received a total of 7,413 complaints. Noh said 7,108 cases had been settled as at Sept 30, while the remaining 305 are pending action.

To curb further property-related frauds, Noh said new conditions have been imposed on the Advertisement and Sale Permit, where the advertise-ment for every property sale to be shared in the mass media must be

approved by the housing controller.“KPKT is aware of frauds commit-

ted even through advertisements in the mass media, be it television or newspaper, which is why the public can easily be deceived. Th ey assume these are advertisements and prod-ucts off ered by licensed or legitimate property developers or agents,” Noh said.

“We have issued a circular to me-dia outlets to inform them about the publishing of advertisements in fu-ture — for every product or service intended for promotion or sale, the materials will need to be approved by the National Housing Department.”

KUALA LUMPUR: Legal action will be taken against developers found to have fl outed the Environmental Impact Assessment (EIA) conditions and caused fl ash fl oods at the Federal Highway on Monday.

Natural Resources and Environ-ment Minister Datuk Seri Dr Wan Junaidi Tuanku Jaafar said an initial investigation shows that rubbish and mud from construction sites were swept into a monsoon drain during heavy rain from 1pm to 4pm.

“I believe this happened because

the project developers failed to build retention ponds and garbage traps. Th e Department of Environment will take action against the developers if the projects were approved after Au-gust 2015, when new EIA conditions were enforced. “However, we can-not act if the projects were approved before August 2015 but Kuala Lum-pur City Hall can act since approval comes under them,” he told a press conference at the parliament build-ing yesterday.

A heavy downpour caused fl ash

fl oods in Bangsar South, Pantai Da-lam and the Federal Highway on Monday, resulting in a massive traf-fi c snarl on the stretch linking Kuala Lumpur to Shah Alam.

Wan Junaidi said the drainage ca-pacity and the culverts in Kuala Lum-pur could still accommodate heavy rain without causing flash floods. “Data from the monitoring station in the area found the nearby river still has a high capacity of about 1.5m and is capable of accommodating heavy rainfall.” — Bernama

‘Legal action against builders who fl out EIA conditions’

KUALA LUMPUR: Datuk Seri Na-jib Razak has rubbished a claim that says about 300,000 Malaysian Indians are without citizenship papers.

Th e prime minister said the claim is a lie because only about 2,500 citizenship applications had been received from Malaysian Indians, including those born before inde-pendence and whose births were not registered.

Th e MyDaftar initiative, which covers every part of the country, did not fi nd 300,000 stateless Malaysian Indians as claimed by the opposi-tion, he said, adding that the matter had even been brought to the UK parliament’s attention.

“Th is is a fairy tale. We only have 2,500 applications [for citizenship from Malaysian Indians]. It is just like the claim that we brought in 40,000 Bangladeshi voters in the last general election, that the coun-try would go bankrupt, and many other baseless stories,” he said when handing over citizenship documents to Malaysian Indians here.

Also present at the event were

Tunku Aziz fails to strike out Mukhriz’s defamation suitKUALA LUMPUR: Former DAP vice-chairman Tunku Abdul Aziz Tunku Ibrahim has failed to dismiss Datuk Seri Mukhriz Mahathir’s defamation suit against him over social media statements he made implying the former Kedah menteri be-sar had a secret pact with DAP adviser Lim Kit Siang. Tunku Abdul Aziz’s application was re-jected by Justice Datuk Nordin Hassan who found the state-ments had indeed referred to Mukhriz, besides other issues in the suit that warrant a hear-ing. Th e court ordered the ap-plicant to pay RM4,000 in cost to Mukhriz and set Jan 11-12 and Jan 18-19 next year for tri-al. — Bernama ‘Datuk Seri’ remanded for four days over assaultKUALA LUMPUR: A man with the title “Datuk Seri” is being remanded for four days, from yesterday, over the assault of three Rela (People’s Volunteer Corps) members while on duty at a temple in Kampung Baru Ampang last Friday. Th e order for remand until Nov 3 was is-sued by Magistrate Mohamad Firdaus Sadina Ali after allow-ing the application from the police. Th e 29-year-old man is being remanded to assist in the investigation under Section 186 of the Penal Code for prevent-ing public servants from carry-ing out their duties and under Section 353 for using criminal force. — Bernama

Bersih 2.0 launches elec-tion monitoring exerciseKUALA LUMPUR: Election watchdog Bersih 2.0 has launched a campaign to mon-itor the 14th general election for irregularities. The coali-tion called for 3,000 volun-teers and 100 coordinators to monitor 29 zones through-out the country to ensure a clean election. Th e initiative is a joint eff ort of Bersih 2.0, human rights groups Suaram and Pusat Komas as well as other citizens groups, Bersih 2.0 said in a statement. Th e ex-ercise will be aimed at observ-ing the Election Commission, political parties and election candidates, it said. Singapore fi les written observations on ICJ caseSINGAPORE: Singapore’s Min-istry of Foreign Aff airs said the republic has fi led its written observations on Malaysia’s request for interpretation of the International Court of Jus-tice’s (ICJ) 2008 judgement concerning sovereignty over Pedra Branca, Middle Rocks and South Ledge. In a state-ment, it said Singapore fi led the documents with the ICJ on Oct 30. Th e ministry said Sin-gapore’s written observations are a comprehensive rebuttal to Malaysia’s request for inter-pretation of the judgement. — Bernama

I N BR I E F

PM rubbishes claim of 300,000 stateless Indians

Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi, Feder-al Territories Minister Datuk Seri Tengku Adnan Tengku Mansor, MIC president Datuk Seri Dr S Subra-maniam and leaders of MyPPP, All Malaysian Indian Progressive Front and Makkal Sakti.

Najib said the government that

he leads is committed to solving the issue of Malaysian Indian citi-zenship, and had set up the Special Implementation Task Force under the Special Unit for Socio-Economic Development of the Indian Commu-nity which has been implementing the MyDaftar initiative since 2011. — Bernama

A segment of the 177 Malaysian Indians taking the oath of loyalty before receiving their citizenship documents in Kuala Lumpur yesterday. Photo by Bernama

1 2 C O M M E N T WEDNESDAY NOVEMBER 1, 2017 • THEEDGE FINANCIAL DAILY

Should Trump be terrifi ed?Manafort indictment does not implicate campaign, but could Trump face investigation into fi nances?

BY K A N A N I S H I Z AWA & A I B I N G G U O

Special Counsel Robert Mueller unfurled his first federal indictment on Monday in his probe of possible collusion among Donald Trump

(pic), his presidential campaign and Russia, filing federal fraud charges against Paul Manafort — Trump’s former campaign manager and a globe-trotting political consultant whose business came to include work for allies of the Kremlin.

Manafort and one of his busi-ness associates, Rick Gates, are ac-cused in a 31-page indictment of a number of fi nancial crimes that occurred between 2006 and 2016, including money laundering, tax fraud, and failure to disclose pay-ments from foreign companies and bank accounts, and failure to regis-ter as an agent of the Ukraine gov-ernment. As the indictment outlines in withering detail, Manafort “con-spired to defraud the United States.” (Manafort and Gates have pleaded not guilty, according to CNN).

What the indictment does not do (at least not yet, since other charges

It is going to take more than the big-gest stock slump in world history to convince analysts that PetroChina Co has fi nally hit bottom.

Ten years after PetroChina peaked on its fi rst day of trading in Shanghai, the state-owned energy producer has lost about US$800 billion (RM3.38 billion) of market value — a sum large enough to buy every listed company in Italy, or circle the Earth 31 times with US$100 bills.

In current dollar terms, it is the world’s biggest-ever wipe-out of shareholder wealth. And it may only get worse. If the average analyst esti-mate compiled by Bloomberg proves right, PetroChina’s Shanghai shares will sink 16% to an all-time low in the next 12 months.

Th e stock has been pummelled by some of China’s biggest economic policy shifts of the past decade, in-cluding the government’s move away from a commodity-intensive devel-opment model and its attempts to clamp down on speculative manias.

Th row in oil’s 44% drop over the last 10 years and Chinese President Xi Jinping’s ambitious plans to pro-mote electric vehicles, and it is easy to see why analysts are still bearish. It does not help that PetroChina shares trade at 36 times estimated 12-month earnings, a 53% premium versus global peers.

“It’s going to be tough times ahead for PetroChina,” said Toshihiko Taka-

against Manafort could be added later) is put the president of the US in immediate legal peril.

It is worth pointing out that Manafort’s work for the Trump campaign is not mentioned in the indictment, although statements he made during his three-month tenure as campaign chairman in 2016 are cited. In that context, Manafort’s fi nancial wheeling and dealing in Eastern Europe and the fun stuff he did with payments he apparently went out of his way to mask (US$655,000 on landscaping, US$849,000 on clothes) do not yet intersect with the Oval Offi ce.

Manafort is also someone Trump himself is probably not too con-cerned about. Yes, the indictment gives Mueller and his Justice Depart-ment team the leverage they need to squeeze Manafort for more juice on Trump that they do not already have, of course. But to the extent that any of that revolves around collusion with Russia to tip the 2016 campaign in Trump’s favour, well, Trump is much less exposed. Collu-sion is not a federal crime (though some campaign actions relating to collusion could be crimes).

But Trump has other reasons to be concerned, because the Mana-fort indictment may off er a blue-

print of the kind of charges Mueller may ultimately bring against Trump himself — charges involving fi nan-cial crimes such as money launder-ing and tax evasion, listed in pain-ful detail for all the nation to see.

While Team Trump is pushing the idea that Manafort’s shady deal-ings are his own problem, they also make him a model Trump associ-ate. Th e president, never one to fol-low rules, has repeatedly gone into business with career criminals over the years, including guys like Felix Sater of the Bayrock Group. An im-migrant to the US from the former Soviet Union, Sater has organised crime ties and links to Russia, all of which are surely on Mueller’s radar.

Mueller’s pursuit of the money trail is likely what Trump fears the most

in the Russia probe, not collusion. An investigation into his own fi nan-cial and business history as well as the dealings of family members like Kushner — and his three eldest chil-dren, Donald Jr, Ivanka and Eric — are more threatening than anything else Mueller might be weighing.

Since before Trump was even in-augurated, son-in-law Jared Kush-ner has scrambled to arrange fi -nancing for his family’s troubled skyscraper, 666 Fifth Avenue. His solicitations involved Chinese fi -nanciers, and he met with a prom-inent Russian banker during the same period (though he denies talking business with the Russian). Mueller is reportedly focused on Kushner as part of his investigation.

A barometer of how much all of this concerns Trump is, as always, Twitter. Trump has been pressing his case against the media and law enforcement on Twitter for more than a week, repeatedly trying to say they should shift the focus from him and Russia to “Crooked Hillary” and her web of nefarious deals.

In part, this is due to recent re-porting that the infamous Steele dossier exploring Trump’s possible Russian confl icts was funded by Democrats, a fact that was already known for about a year. Trump

pounced on that news to suggest that the entire Russia probe sprang into existence because of the dos-sier and, ergo, was a “witch hunt” orchestrated by Democrats.

Th e Mueller indictment, as does most of the fact pattern surround-ing the Russian probe, shreds the idea that the Steele dossier was the foundational document for law en-forcement and intelligence agen-cies interested in Trump’s intersec-tions with Russia. Investigators are clearly exploring multiple tracks.

Trump (as well as loyalists like Roger Stone and Sebastian Gorka) also went into defensive overdrive on Twitter over the weekend, after CNN broke the news last Friday evening that Mueller was likely to fi le charges against someone in the Trump orbit.

It is useful to the president to try to bring the focus back on “collu-sion” and away from other subjects like “obstruction” or “fraud,” but his Twitter feed would not be on fi re if he was not seriously worried. And the president may be fuming because when he stares at the Mueller indict-ment, he might be concerned that he is staring into a mirror. — Bloomberg

Biggest stock collapse in world history has no end in sight

moto, a Singapore-based money manager at Asset Management One, which oversees about US$800 million in Asia. “Why would anyone want to buy the stock when it’s trading for more than 30 times earnings?”

Of course, many of the factors behind PetroChina’s slump have been outside the company’s control. When it listed in Shanghai in 2007, bubbles in both oil and the Chinese equity market were primed to burst, while the global fi nancial crisis was just around the corner. Measured against the 73% drop in China’s CSI 300 Energy Index over the past dec-ade, PetroChina’s 82% retreat does not look quite so bad.

And as Citigroup Inc analyst Nel-son Wang points out, most of Pet-roChina shares are owned by the Chinese government, so the hit to minority investors has not been as big as the loss in total market value might suggest.

On Hong Kong’s exchange, where PetroChina fi rst listed in April 2000, stockholders have enjoyed strong long-term gains. Th e company’s so-called H shares have returned about 735% since their debut, outpacing the city’s benchmark Hang Seng Index by more than 500 percentage points. (Dual listings are common among Chinese companies, which often sell stock to international investors

in Hong Kong.)Th e H shares, which account for

less than 12% of PetroChina’s total shares outstanding and trade at a discount to their Shanghai coun-terparts, may rise 31% over the next year, according to the latest price target from Laban Yu, a Hong Kong-based analyst at Jeff eries Group LLC.

A spokesman for Beijing-based PetroChina declined to comment. Th e company on Monday reported third-quarter net income of 4.69 bil-lion yuan (RM2.99 billion), trailing a JPMorgan Chase & Co estimate of 7.57 billion yuan.

When it comes to PetroChina’s Shanghai-traded shares, analysts are

unusually pessimistic. Th e energy producer is one of just a handful of large-cap Chinese companies with more sell ratings than buys.

Valuation is one reason for ana-lysts’ bearish outlook. Even after its slump, PetroChina’s forward price-to-earnings ratio in Shanghai is 80% higher than its historical average. And while the shares were more richly valued in 2007, it seems improba-ble that China’s government would allow such heady market conditions to return anytime soon.

Even if the government does loos-en its grip, today’s market darlings are more likely to be found in the technology and consumer indus-tries than in “old economy” sectors like oil. President Xi, who cemented his status as China’s strongest leader in decades at last week’s Commu-nist Party congress, has emphasised the need for more environmental-ly-friendly growth. His government is rolling out one of the world’s big-gest electric car programmes and has pledged to cap China’s carbon emissions by 2030.

For Andrew Clarke, director of trading at Mirabaud Asia Ltd in Hong Kong, it adds up to an uncertain out-look for China’s national oil cham-pion. Asked whether PetroChina will ever climb back to its 2007 high, Clarke, who is 50, had this to say: “Maybe one day, but it depends how long your time frame is. I’m pretty sure I will be dead before that hap-pens again.” — Bloomberg

BY T I M OT H Y L O ’ B R I E N

See related story on Page 19

W O R L D B U S I N E S S 1 3WEDNESDAY NOVEMBER 1, 2017 • THEED G E FINANCIAL DAILY

Singapore opens new, high-tech airport terminalSINGAPORE: Singapore’s Changi Airport opened a cut-ting-edge terminal yesterday with a fully automated check-in system including facial scan-ning and computerised bag-gage drop points, but some passengers struggled with the new technology. Terminal 4, built at a cost of S$985 million (RM3.06 billion), will have an annual capacity of 16 million people and is aimed at coping with an expected increase in passenger numbers through one of Asia’s top travel hubs. On its fi rst day of operations, not everyone managed to get to grips with the check-in ma-chines, forcing travellers to use counters manned by airport staff instead. — AFP

Bank of Japan keeps policy steadyTOKYO: Th e Bank of Japan (BoJ) kept monetary policy steady and roughly maintained its ambi-tious price forecasts yesterday, pointing to signs of growing strength in the economy that policymakers hope will accel-erate infl ation towards its elu-sive 2% target. Board newcomer Goushi Kataoka made no pro-posal on additional easing, defy-ing market expectations he might do so after dissenting from last month’s BoJ’s decision to keep policy steady. But he said the central bank should make clear its readiness to expand stimulus again and commit, via its bond purchases, to keeping the yield on longer-term bonds low, ac-cording to a statement issued by the central bank. — Reuters

Google ditches autopilot driving featureATWATER, California: Alpha-bet Inc’s self-driving car unit stopped developing features that required drivers to take control in dangerous situations, its chief executive said on Mon-day, as autopilot reliance left users prone to distractions and ill-prepared to manoeuvre. Th e decision followed experiments of the technology in Silicon Valley that showed test users napping, putting on make-up and fi ddling with their phones as the vehicles travelled up to 56mph (90kph). “What we found was pretty scary,” John Krafcik, the head of Waymo, said on Monday. — Reuters

Panasonic 2Q profi t up 6% on automotive demandTOKYO: Japan’s Panasonic Corp reported a 6% increase in second-quarter (2Q) oper-ating profi t yesterday, beating analyst estimates, as it began to tap growing demand for elec-trifi cation from automakers. The electronics maker said July-to-September profi t rose to ¥112.7 billion (RM4.21 bil-lion) from ¥106.3 billion a year earlier. That compared with a Th omson Reuters Starmine SmartEstimate of ¥96.46 billion drawn from the forecasts of 10 analysts. — Reuters

I N BR I E F‘Sinopec mulls US oil projects’Th is comes as Trump is set to visit Beijing next week

TOKYO: Japan Airlines (JAL) yes-terday upgraded its full-year fore-cast as it booked a modest gain in half-year net profi t thanks to solid domestic and international sales.

JAL said net profit rose 9.2% year-on-year to ¥78 bil-lion (RM2.91 billion) for the six months to September.

Revenue for the period in-creased 6.2% to ¥692.3 billion, as the airline said it enjoyed robust inbound demand from overseas and buoyant outbound demand.

“Demand for business use remains strong, while the indus-try’s sentiment has recovered from last year, when the avia-tion industry faced the impact of terrorism,” Hiroshi Hasega-wa, an analyst at SMBC Nikko Securities in Tokyo, said before the earnings announcement.

“Domestic flights are in good shape on the back of the nation’s economic recovery, while a steady inbound fl ow of foreign visitors to Japan con-tinues to sustain the earnings of Japanese airline companies ahead of the 2020 Tokyo Olym-pics,” Hasegawa told AFP.

Th e company, which raised its annual forecast just three months ago, again upgraded its full-year projections. It now sees ¥121 billion in net profi t for the fi scal year to March 2018 — up from ¥108 billion forecast earlier.

Th e airline projected annu-al sales at ¥1.366 trillion com-pared with ¥1.348 trillion fore-cast before.

JAL was once a symbol of Ja-pan’s rise from the ashes of de-feat in World War II as it ferried the country’s newly rich tourists around the world. But it was forced to accept a government bailout after a high-profi le bank-ruptcy restructuring in 2010.

After slashing routes and cut-ting costs, the carrier relisted on the Tokyo bourse two years later and has continued a steady as-cent. “Since JAL has wound up its recovery stage from its crisis, we are focusing on its growth strategies,” Hasegawa said.

Rival carrier All Nippon Airways is scheduled to an-nounce its half-year earnings today. — AFP

Tailwinds for Japan Airlines spark earnings upgrade

BY F LO R E N C E TA N

TOKYO: Sony said yesterday it ex-pects to book record annual profi ts as it pushes on with a turnaround driven by the PlayStation games di-vision and a booming smartphone parts business while it also scored a hit with the newest Spider-Man movie.

Th e once ailing electronics giant and PlayStation console maker is eyeing a net profi t of ¥380 billion

CLIMBING FIGURES ... Nintendo Co’s Switch console just accomplished something its last major console, the Wii U, never could: sell over four million units in a single six-month period. The Kyoto-based consumer electronics company now predicts it will sell 14 million Switch units in the period ending March 2018, up from 10 million. ‘All the pieces are falling into place for them to boost production even more next year,’ said Kazunori Ito, an analyst at Morningstar Investment Services in Tokyo. ‘The Wii sold 100 million, and this number is starting to creep into people’s minds when thinking about prospects for the Switch.’ — Bloomberg

Sony forecasts record profi ts, scores Spider-Man movie hitBY M I WA S UZ U K I (RM14.19 billion) for the fi scal year

to March 2018, compared with the previous ¥369.4 billion record a decade ago. It also expects oper-ating profit to be a highest-ever ¥630 billion, beating a record set two decades ago.

Net profi t for the latest quarter to September was more than 27 times higher than a year earlier, while revenue expanded by 22%. Operating profi t jumped more than fourfold in the latest period, part-

ly due to a rebound after deadly quakes in southern Japan hit pro-duction last year.

Th e Tokyo-based company cited improved results in its semiconduc-tor business, which includes image sensors found in smartphone cam-eras. Th e results marked a come-back for the electronics and enter-tainment giant, which has struggled with huge losses in recent years.

Sony also said things were look-ing up at the movie division. “Motion

pictures sales increased signifi cantly due to the strong worldwide theat-rical performance of Spider-Man: Homecoming,” the firm said in a statement.

Profi tability in televisions and other home appliances also im-proved as the group shifted to high-er-end models, while revenue from fi nancial services jumped due part-ly to better investment returns.

A cheaper yen is also expected to contribute to Sony’s revenue. — AFP

SINGAPORE: China’s state oil ma-jor Sinopec is evaluating two pro-jects in the US that could boost Gulf Coast crude oil exports and also expand storage facilities in the Caribbean, two people famil-iar with the matter said yesterday, with US President Donald Trump set to visit Beijing next week.

With US-China energy trade like-ly to feature prominently during Trump’s visit, the people said one of the projects could see Sinopec partnering with US commodities trader Freepoint Commodities LLC and US private equity fi rm ArcLight Capital Partners LLC.

Th e trio is mulling building a pipeline to move shale oil from the Permian basin in Texas to the US Gulf Coast for export, they said.

Th is project also includes the con-struction of a terminal that can load two million barrels of crude onboard a very large crude carrier (VLCC), they said. Th is will reduce a big chunk of logistics costs incurred for US crude exports, making the oil more compet-itive in Asia, the sources said.

ArcLight and Freepoint are among the US energy and com-modities fi rms that will make up a major part of a business delegation visiting Beijing when Trump goes to China next week.

Sinopec and the US fi rms have

also been exploring an expansion of oil storage at Limetree Bay (LB) Terminals in St Croix, US Virgin Islands, in the Caribbean, and re-starting an idled refi nery at the same site, the people said. Th ey declined to be identifi ed because they were not authorised to speak to media.

Th e Chinese company, which is Asia’s largest oil refi ner, ArcLight and Freepoint declined to comment.

“Th ere is room for energy co-operation between China and the United States, but the projects will have to be commercially viable before the companies reach any agreement,” one of the people familiar with the matter said. —Reuters

1 4 W O R L D B U S I N E S S WEDNESDAY NOVEMBER 1, 2017 • THEEDGE FINANCIAL DAILY

Trump expected to announce Fed choice tomorrow — offi cialWASHINGTON: US President Donald Trump is expected to announce his choice to lead the US Federal Reserve (Fed) tomorrow, a US official said on Monday. Trump said last week he had “somebody very specifi c in mind. I think every-body will be very impressed.” He has not publicly ruled out renominating current Fed chair Janet Yellen to a second four-year term, but US media have reported that Jerome Powell, a current Fed governor, is the likely candidate. Trump has eagerly dismantled signature policies of the Obama adminis-tration, making Yellen, an Oba-ma appointee, an enticing tar-get. — AFP

BP beats 3Q forecasts, announces share buy-back programmeLONDON: British oil producer BP beat analysts’ expectations for third-quarter (3Q) earnings yesterday and said it would buy back shares to dilute the impact of its scrip dividend programme. BP reported 3Q underlying replacement cost profi t, the company’s defi ni-tion of net income, of US$1.87 billion (RM7.91 billion), ex-ceeding analysts’ forecasts of US$1.58 billion. Th at doubled a profi t of US$933 million a year earlier and US$684 million in the 2Q of 2017, when the com-pany took a large write-down on exploration. — Reuters

Advertising giant WPP lowers full-year expectations againLONDON: WPP, the world’s biggest advertising company battling a slowdown in client spending, lowered expecta-tions for full-year organic net sales and profi t margin yester-day, two months after an earlier downgrade sent shock waves through the industry. Led by the high-profi le British busi-nessman Martin Sorrell, WPP said it had suff ered in North America from the loss of two big accounts, VW and AT&T, and from the fall in spending from consumer goods groups such as Unilever and Procter & Gamble. — Reuters

British government weighs big cut in top stake on gambling machinesLONDON: The maximum stake allowed on gambling machines in British betting shops could be cut to as little as £2 (RM11.18) from £100, the government said yesterday, dealing a blow to bookmakers who rely on them to boost rev-enue. Following a review of the fi xed-odds betting terminals, which critics say are highly ad-dictive, the government said the cut was among a number of options. The government has launched a 12-week con-sultation to look at cutting the maximum stake to between £50 and £2. — Reuters

I N BR I E FAirbus legal risks spread to USTh e unexpected disclosure overshadows third-quarter earnings

BY T I M H E P H E R & C Y R I L A LT M E Y E R

BY B E N J A M I N D K AT Z

& C H R I S TO P H E R J A S P E R

BY P E T E R T H A L L A R S E N

BY M I C H A E L A R N O L D

PARIS: Airbus said yesterday it had uncovered problems involving the use of sales agents to sell US arms technology, dragging the US for the fi rst time into a growing cor-ruption scandal at Europe’s largest aerospace fi rm.

Airbus also warned of a material impact from potential fi nes resulting from existing bribery investigations in the UK and France surrounding

the use of middlemen in airplane sales, which have also triggered a sweeping internal investigation.

But it said it was too early to gauge the size or timing of these or the outcome of the latest US-re-lated fi ndings.

Airbus said it had discovered inaccuracies in past declarations to the US State Department under Part 130 of the US International Traffi c in Arms Regulations, a sec-tion of US law covering the use of

commissions to sell arms.Finance director Harald Wilhelm

stressed the European company had not disclosed any secrets about sen-sitive US technology and that the is-sue was restricted to the use of sales agents and commissions. “Th is is about defence equipment and ser-vices related to it,” he told reporters.

Airbus has been badly shaken by the existing corruption probes, which have already clipped aircraft sales.

Th e unexpected disclosure over-

shadowed third-quarter earnings which showed a sightly narrow-er-than-expected 4% decline on lower aircraft deliveries.

Airbus, the world’s second larg-est planemaker after Boeing , post-ed quarterly core operating earn-ings of €697 million (RM3.4 billion) as revenues rose 2%. It took a fur-ther small charge for the troubled A400M military programme and warned of further changes later in the year. — Reuters

LONDON: Ryanair Holdings plc’s second-quarter earnings fell 2% as the carrier paid out €25 million (RM123.15 million) in refunds after a pilot shortage led it to cancel fl ights for more than 700,000 passengers.

Ryanair has scrapped more than 20,000 fl ights amid a botched re-scheduling of pilot leave and the poaching of staff by rivals includ-ing Norwegian Air Shuttle ASA.

Ryanair quarterly profi t dips as O’Leary grapples with pilot crisis

Th e cuts have slowed expansion plans, encouraged cockpit crew to push for unionisation and sparked consumer backlash. Despite those headwinds, chief executive offi cer (CEO) Michael O’Leary stood by a forecast for full-year profi t in the range of €1.4 billion to €1.45 billion.

Net income in the three months to Sept 30 fell to €895 million from €912 million a year earlier, Dub-lin-based Ryanair said yesterday. Analysts had anticipated a fi gure of €937 million, based on the av-

erage of eight estimates compiled by Bloomberg.

Th e CEO pledged to carry on with a review of pilot rotas, bases and pay as the company seeks a permanent settlement to a crisis that originat-ed with a mismanaged response to changes in Irish labour laws. O’Leary said the bungle had resulted from a “perfect storm” that also included an insufficient focus on pilot re-cruitment over the summer and a bottleneck in deploying new offi cers following training. — Bloomberg

TEL AVIV: A Tel Aviv-based start-up backed by easyJet plc and a co-founder of Waze Inc aims to do for ski vacations what Booking.com did for hotel customers.

WeSki, launched last month by four Israeli ski buddies, allows groups to organise all-inclusive ski vacations that are customised to their needs and, the founders say, cheaper than packages off ered by agents.

“Skiing is fun. Organising a ski trip is less fun,” WeSki co-founder Yotam Idan told reporters in Tel Aviv.

Israel, which is more known for beaches or desert, might not seem the most promising market to launch a skiing app. Th e country has only one ski resort — on Mount Hermon in the Golan Heights, which Israel captured from Syria in the 1967 Mid-dle East war and annexed in 1981, a move not recognised internationally. Only three Israelis have competed in Olympic skiing competitions, and the country has never won a medal of any kind at a Winter Olympics games.

Idan had to explain to Israeli jour-nalists the basic elements of a ski trip such as equipment, chairlifts and apres-ski leisure. According to WeSki data, some 50,000 Israelis have gone skiing or snowboarding, out of a population of about 8.7 million.

WeSki users can book a package involving all the elements of a ski trip, send friends a group invite

Start-up backed by Waze co-founder aims to redefi ne ski trips

and have everyone pay separately based on the extras they choose. Th e site’s algorithm surveys more than 100 tourism providers to put together a package tailored for each group’s needs.

Waze co-founder Uri Levine is among the backers who helped WeTrip, the tourism start-up be-hind WeSki, raise US$1 million (RM4.23 million). Waze was sold to Alphabet Inc in 2013 for a re-

ported US$1.1 billion.Eventually WeTrip aims to off er

other personalised vacation pack-ages centred around activities such as diving, cycling or windsurfi ng — social holidays that a group can plan and reserve together. For now, packages are only available from the UK or Israel to ski resorts in France, but Idan hopes to market WeSki in other parts of Europe by next year. — Bloomberg

A group picture of three of the WeSki co-founders. WeSki allows groups to organise all-inclusive customised ski vacations and, the founders say, cheaper than packages off ered by agents. Photo by Bloomberg

LONDON: Fresh from defl ecting a takeover from one US rival, the Dutch group Akzo Nobel con-fi rmed on Monday that it is con-sidering merging its paint unit with former DuPont subsidiary Axalta. A combination makes sense. But new chief executive offi cer (CEO) Th ierry Vanlanck-er is busy grappling with weak results and a chemicals spin-off .

Th e €20 billion (RM98.43 billion) Dulux owner has already resisted a €25 billion bid from paint mak-er PPG and grappled with activist investor Elliott Advisors this year. It pledged to spin off or sell its spe-cialty chemicals division and boost margins at its coatings businesses. Its CEO and fi nance chief stepped down. Since taking over in July, Van-lancker has twice lowered the fi rm’s guidance for 2017 earnings. Th is is not an encouraging backdrop.

Th ere is some logic to combining the world’s third- and fourth-largest paint makers. Bernstein analysts reckon Akzo and Axalta could cut costs by €250 million or 2% of their combined paint revenue, though competition regulators may de-mand disposals. Taxed at Akzo’s 26% rate and capitalised, the syn-ergies would be worth €1.9 billion. Th at helps explain the US$1.2 bil-lion (RM5.1 billion) jump in Axalta’s market value after Reuters reported the talks last Friday.

It’s hard to see how the deal can be a true “merger of equals”, as Akzo suggested in its statement. Th e Dutch group’s chemicals arm could fetch between €8 billion and €12 billion. Take the midpoint of this range, deduct it from Akzo’s enterprise value of €21.1 billion, and assume the group’s €1.7 billion of debt stays with the paint business.

In the above scenario, Akzo’s eq-uity would still be worth some 35% more than Axalta’s infl ated market value. Th e worry for Akzo share-holders is that the Dutch company could be willing to hand most of the benefi ts of a deal to Axalta in an at-tempt to escape another bid from PPG, which will be free to renew its pursuit in December. — Reuters

Axalta deal complicates Akzo’s juggling act

W O R L D B U S I N E S S 1 5WEDNESDAY NOVEMBER 1, 2017 • THEED G E FINANCIAL DAILY

New-generation leaders for Samsung ElectronicsCompany is to reward shareholders with US$26 billion until 2020

LONDON: Prospective buyers of HSBC shares may question the upside for a bank already trad-ing at a chunky 1.3 times its tan-gible book value, a premium to European peers. Third-quarter results provided a rough guide for potential bulls. Th e message to incoming chief executive offi cer (CEO) John Flint is clear: more of the same, please.

True, HSBC’s adjusted pre-tax profi t for the quarter was 1% lower than in the same period last year as costs grew faster than income. More signifi cant, however, is the 6% year-on-year jump in pre-tax profi t from Asia, that accounts for around 70% of HSBC’s earnings. Robust economic growth there meant lending in the third quarter was 17% higher than a year ago.

HSBC’s undiminished abil-ity to attract deposits — savers’ balances have increased by 5% this year — means it has plenty of spare ammunition for lending. Th e bank’s loan to deposit ratio remains a relatively conservative 70%. Th ough it’s strange to hear an institution founded in Hong Kong and Shanghai 152 years ago talk of a “pivot to Asia”, the region continues to off er promise.

HSBC’s large pool of dollar-de-

HSBC investors to new CEO: more of the same, please

BY J OYC E L E E

SEOUL: South Korean technology giant Samsung Electronics Co Ltd named a new generation of top managers yesterday and prom-ised to reward shareholders with US$26 billion (RM109.98 billion) in payouts to 2020, as it reported record third-quarter (3Q) profit.

The world’s biggest maker of semiconductors, televisions and smartphones replaced its three main businesses’ leaders — chief financial officer Lee Sang-hoon as the likely new board chairman, and said veteran co-chief exec-utive officers JK Shin and Yoon Boo-keun would resign.

The shake-up at South Korea’s biggest company is designed to ease investors’ concerns about a leadership vacuum following group scion Jay Y Lee’s arrest and conviction on bribery charges earlier this year.

“It’s a younger generation

of leaders, but the divisional structure has not fundamental-ly changed,” research firm CEO Score head Park Ju-gun said.

The new appointees are long-serving Samsung insiders whose elevations suggest conti-nuity rather than any new direc-tion at the US$348 billion com-pany.

Kim Ki-nam, 59, was appoint-ed to lead the Device Solutions division which makes compo-nents including memory chips,

the major driver of the firm’s re-cord 3Q profit of 14.5 trillion won (RM60 billion).

Park Jung-hoon, fund man-ager at HDC Asset Management which holds Samsung Electronics shares, said there had been “some concerns” that Kim would move to expand chip capacity and up-set the currently favourable sup-ply-demand balance.

“However, today’s (yesterday) [post-earnings call with analysts] said the chip business will focus on profitability, and not market share, suggesting they will con-tinue the current course without deviation, which put our minds to rest,” he told Reuters.

Samsung also said Koh Dong-jin, 56, would head the Infor-mation Technology and Mobile Communications, and Kim Hyun-suk, 56, would lead the Consumer Electronics.

The changes are effective im-mediately. — Reuters

nominated and sterling accounts is turning from a drag to a source of strength. Th e bank reckons each 25 basis-point rise in dollar in-terest rates in the US and Hong Kong roughly yields an additional US$330 million (RM1.4 billion) in net interest income. A similar up-tick in UK borrowing costs would add an extra US$106 million. As the US Federal Reserve tightens, and the Bank of England prepares to do so, HSBC’s lowly net interest margin of 1.63% should expand and revenues increase. Th at in turn will help boost the bank’s return on tangible equity which, at 9.3% for the fi rst nine months of 2017, is already close to its 10% target.

Formally taking charge in Feb-ruary, Flint has scope to make further improvements. A strategic review may question the utility of having a Mexican bank. HSBC’s 19% stake in China’s Bank of Com-munications looks increasingly hard to justify. Yet, these prob-lems are minor when compared to the challenges faced by some of HSBC’s European peers.

Before Monday, HSBC shares had beaten the STOXX Europe 600 Banks Index by 3% this year. Favourable economic tailwinds should give Flint scope to en-sure further outperformance. — Reuters

BY C H R I S TO P H E R T H O M P S O N

It’s a younger generation of leaders,

but the divisional structure has not

fundamentally changed.

1 6 F O C U S WEDNESDAY NOVEMBER 1, 2017 • THEEDGE FINANCIAL DAILY

BY T R I N I T Y C H UA , M I C H E L L E T EO

& C H A N C H A O P E H

PHOTO BY SAMUEL ISAAC CHUA/THE EDGE SINGAPORE

Desmond Kuek, CEO of SMRT Corp, worked hard last year to persuade shareholders of the company to accept an of-fer from Temasek Holdings to take the company private

via a scheme of arrangement. SMRT’s busi-ness, he said, needed a restructuring that was best done away from the glare of the public market. “The privatisation allows an environment where this can be focused on much more decisively and allows us to bring about those changes in a more deter-mined way, without the short-term pres-sures of earnings expectations,” Kuek said in an interview with The Edge Singapore in September last year.

Days before the scheme of arrangement was unveiled, SMRT had also announced the transition of its rail business to a new rail fi nancing framework (NRFF). Th e NRFF mitigates the revenue and earnings risk for SMRT, through a risk-sharing mechanism with the Land Transport Authority (LTA). However, LTA’s sharing of the downside risk is limited. At the same time, the NRFF caps SMRT’s earnings potential from the rail business. Together, the introduction of the NRFF and the privatisation of SMRT were supposed to be good for commuters as well as investors. As it happened, shareholders of SMRT accepted the off er from Temasek, and the company was taken private on Oct 31.

Almost exactly one year on, a host of statistics suggest that SMRT’s rail reliability is good and getting better. Its train service availability, measured as a percentage of trains that operate on schedule, is 99.6%. The international average is 98%. Other facilities, such as ticketing machines and escalators, function at or near 100%. On the North-South and East-West lines, the average number of delays exceeding fi ve

minutes has fallen to 0.33 per 100,000km travelled, for the fi rst eight months of this year. In 2011, that fi gure was 1.8. Th e num-ber of trains that had to be taken out of ser-vice has fallen from 3.32 per 100,000km in 2012, to 1.42 at the last count. Th e number of disruptions lasting over 30 minutes has fallen from nine last year to two on each line in the fi rst eight months of this year. Th ese numbers do not take into account weather and signalling-test-related delays.

Yet, many commuters are apparently still unhappy. LTA tells Th e Edge Singapore the reliability of the train network has im-proved signifi cantly in the fi rst half of this year. “Commuters may feel that these [re-liability] fi gures do not match up to their own experience on the ground as the fi gures exclude delays due to the testing of the new signalling system. We have not included the delays as they arise from this once-in-30-years renewal programme. We expect the frequency of these delays to fall as the new signalling system for the North-South Line stabilises in the next few months,” says an LTA spokesperson in an email response.

Th e simmering discontent boiled over on the weekend of Oct 7 and 8, when train ser-vices on the North-South Line were disrupted for roughly 20 hours, owing to fl ooding in the tunnels between the Bishan and Braddell MRT stations. Th e disruption is estimated to have aff ected some 250,000 commuters. Even now, nearly a fortnight after top offi cials of SMRT held a press conference to explain what happened and apologise, many people are still talking about the incident.

Meanwhile, it does not seem like the fi -nancial performance of SMRT’s rail business has improved. Th e way SMRT reports its revenue has changed since its privatisation, so the numbers are not strictly comparable. In FY16 ended March, revenue from its rail business increased 4% y-o-y to S$681 mil-lion. Earnings before interest and tax (Ebit) declined 23% y-o-y to S$7.4 million. Th is

works out to an Ebit margin of just 1.1%. SMRT’s non-rail revenue — which in-

cludes taxis, buses, advertising and engi-neering services — increased 6% y-o-y to S$615.6 million. Ebit increased 22.6% y-o-y to S$133.3 million. Th e Ebit margin for the rental business was 62%, while that for the advertising business was 58%.

For FY17, rail-related revenue was S$812 million. However, this fi gure now includes advertising and rental income from rail-way stations and trains. Pre-tax earnings were S$27.3 million, which works out to an Ebit margin of 3.5%. Th is is lower than the historical average for the rail business. Last year, SMRT’s then-CEO Manfred Seah said the company’s historical margin for the rail business over the past fi ve years had been more than 10%. As it happens, 3.5% is the threshold for risk-sharing with LTA. Th e NRFF has a provision for LTA to share 50% of the shortfall if Ebit falls below 3.5%.

While SMRT was listed, many commut-ers blamed the company’s profi t-driven ap-proach for the disruptions and delays. Th e company’s assets, they claimed, were not well maintained because of a focus on cost-cut-ting. Th ey also suggested that management was distracted by other more profi table busi-nesses, such as rentals and advertising. Even now, the government is reviewing its policy of allowing rail operators to run non-tran-sit businesses. LTA has called a tender for a consultant to provide advisory services for the rail non-fare business.

Is stripping SMRT of its more profi table units the answer to improving public trans-portation in Singapore? Should SMRT be made to adopt ever more stringent mainte-nance standards and procedures? Or, could there be other important issues that need to be addressed?

Effi ciency versus redundancyTo answer these questions, some context is necessary. In 1982, a provisional mass rapid

transit authority made a decision to build two lines at an estimated cost of S$5 billion. SMRT, then known as Singapore Mass Rapid Transit, began operations in 1987 with an inaugural service between Yio Chu Kang and Toa Payoh on the North-South Line. Th e year after, 15 more stations were opened and the MRT system was offi cially launched by the late Prime Minister Lee Kuan Yew. And, in 1990, the Boon Lay MRT station was opened, marking the completion of the East-West Line.

It was not until 1995, though, that LTA was formed. In 1996, LTA published a white paper setting out its transport vision for the country. Th e range of transport services en-visioned included an MRT system to serve “heavy transit corridors”, light rail transit sys-tems to serve as feeders to the MRT network, and buses to serve the less-heavy corridors.

LTA also expressed an intention to expand the rail network progressively, with plans for a 160km network, including a 20km North-East Line and a 20km Northshore Line. Giv-en the high costs of expanding the rail net-work, LTA proposed that the government provide the initial transport infrastructure. Commuters would then be responsible for the cost of operating that infrastructure and funding new infrastructure. Th is would be paid for through fares charged by the public transport operators.

Some transport experts say this focus on effi ciency prevented a faster development of a train system and now limits the options that commuters have when disruptions occur. According to them, other urban cities such as Seoul and Tokyo have train networks that are comprehensive enough such that when one line breaks down, commuters simply move to parallel lines. In Singapore, the next best option is bus services. But it takes at least 15 buses to carry the number of passengers in a single train. During peak hours, trains carry as many as 2,000 passengers each.

CONTINUES NEXT PAGE

Rail painTrain operator SMRT was taken out of the public market almost exactly one

year ago, but it is in the public eye more than ever. Now, continued disruptions

to its train service suggest its profi t-driven model is not the problem.

F O C U S 1 7WEDNESDAY NOVEMBER 1, 2017 • THEED G E FINANCIAL DAILY

SMRT had not been allowed to raise fares to a level to recoup various costs

“When we fi rst started building the rail, Singapore was by no means a rich country,” says Walter Theseira, a professor of eco-nomics at the Singapore University of So-cial Sciences (SUSS). “[It would have been fi nancially risky] given our public fi nanc-es at that time if we built not just the rails but alternative routes as well. It only made sense to build the trains along the greatest concentration of demand.”

Also, compared with other major cities, residents in Singapore live in estates con-centrated along the train lines. Most people work in either the city centre or regional hubs such as Jurong East. “Other countries [like London] are not so monocentric,” says Th eseira, “so, over time, they built more lines to create redundancy. But this is created or-ganically [through the way the population travels]. Most cities with greater redundan-cies are [that way] because of the way the population and workplaces are scattered.”

Interestingly, the concentration of estates in Singapore was deliberate. LTA’s white pa-per had stated an intention to “integrate ur-ban development with town planning”, with

the highest building densities concentrated at and around MRT stations.

Terence Fan, a transport specialist at Singapore Management University (SMU), says one solution would be to begin build-ing parallel MRT lines. “Or perhaps simply

2000SMRT is listed on July 26 at 61 cents. The IPO is oversubscribed by five times and “performed reasonably well in a nerv-ous market”.

2001SMRT announces a merger with TIBS, which is completed in December. It also clinches a contract to run Circle Line, which will ex-pand its network by 38% when operations start in 2006. Th e Circle Line would even-tually start running only in 2009 because of the Nicoll Highway accident.

The company declared its interest to grow advertising and commercial revenue.

2002Th e branch line to Changi Airport starts running. Th e Bukit Panjang LRT system experiences a series of breakdowns. Initi-atives are introduced to increase revenue from advertising by adding more space within stations and trains.

In January, Kwek Siew Jin, president and CEO of SMRT, swaps places with Boey Tak Hap, CEO of Singapore Power. Kwek was a former chief of navy and Boey, a former chief of army. In December, Boey resigns for “health and personal reasons”. Saw Phaik Hwa, who had 19 years of experience at DFS Venture Singapore, is given the job. She would soon bring in former colleagues from DFS to staff senior management ranks. Yeo Meng Hin is made executive vice-pres-ident for human resource and corporate services and Teo Chew Hoon appointed vice-president of commercial business at SMRT Investments.

2003Bukit Panjang LRT continues to be a prob-lem, with three disruptions, including a six-day-long breakdown, in late October.

2004SMRT reports fi rst full year of fi nancials with Saw at the helm. Revenue is down 2.7% y-o-y to S$667.3 million, but earnings rise 24.2% y-o-y to S$89.5 million, led by non-fare revenue. More plans are put in place to grow this segment of the pie, such as the refurbishment of the Raffl es Place MRT station and 11 other stations.

2005Non-fare revenue helps to drive earnings growth of 41.8% y-o-y to S$126.9 million, on the back of just 0.9% growth in revenue to S$673.5 million. Dividends are raised. SMRT benchmarks itself against global metro operators; leads in punctuality, costs and manpower effi ciencies.

2006Shop space inventory rises to 23,800 sq m, with occupancy rates up from 95% as at March 31, 2005 to 98% as at March 31, 2006. Dhoby Ghaut station undergoes extensive refurbishment to create more leasable space.

2007Partnership agreement is inked with Cit-ibank, giving the bank space at stations to open branches. A co-branded cred-it card that doubles up as a fare card is launched. Upgrading commences for 66 of the fi rst-generation trains, which promises savings in repair and maintenance costs.

2008Ridership begins growing at a faster clip: up 7.9% to 469.3 million from a year ago.

2009Ridership grows 8.7% y-o-y to 510.2 mil-lion. Train network expands only slightly

to 53 stations and 106 trains, mainly from the Boon Lay extension of Pioneer and Joo Koon stations as well as the fi rst fi ve Circle Line stations from Bartley to Marymount.

2010Earnings rise just 0.1% y-o-y to $162.9 mil-lion as fares are cut to help the public cope with the economic downturn caused by the global fi nancial crisis. Revenue rises just 1.8% y-o-y in spite of a 5.2% increase in ridership to 536.6 million. Eleven new Circle Line stations are opened, adding another 11km to the network.

2011To ease over-crowding, a new platform is opened at Jurong East station to allow an additional 55 train trips during the morn-ing peak period.

The ruling party suffers an unprece-dented backlash during the general elec-tion. Then transport minister Raymond Lim leaves Cabinet, replaced by Lui Tuck Yew. SMRT’s earnings fall for the first time on higher staff and related costs, although full-year ridership rises 12.6% to 603.9 million.

Two massive, unprecedented disruptions happen on the evenings of Dec 15 and 17. A Committee of Inquiry is later convened while board member Ong Ye Kung heads a separate internal inquiry committee.

2012Saw, having served as CEO for nine years, steps down. Tan Ek Kia, a board member, is appointed interim CEO until October, when former chief of defence force Des-mond Kuek is appointed president and CEO. Th e company’s revenue crosses the billion-dollar mark for the fi rst time, but earnings fall 25.6% y-o-y to $119.9 million. Ridership surges 8.3% to 654.4 million.

2013Ridership grows 5.6% y-o-y to 690.9 million. SMRT slashes its dividend per share from 7.45 Singapore cents in the previous year to 2.5 cents, distributing just 45.6% of FY13 earn-ings and short of the dividend policy of 60%.

2014Th e replacement of rail sleepers is carried out, as part of a system-wide renewal programme. Installation begins for a new signalling system that can bring down frequency between trains to just 100 seconds. LTA introduces a one-year trial to ease peak-hour traffi c. Commuters who end their train journey by 7.45am at 16 stations will travel for free and those who exit by 8am get a discount of 50 Singapore cents. Th e scheme has since been extended.

2015Full-year earnings reverse downtrend, ris-ing 47% to S$91 million, thanks to reduced losses from bus operations. In July, servic-es on North-South and East-West lines are disrupted during the evening peak hour, owing to a power fault.

2016Two SMRT trainee technicians, Nasrulhudin Najumudin and Muhammad Asyraf, part of SMRT’s eff orts to beef up its maintenance eff orts, are hit and killed by a train near Pasir Ris station.

SMRT reveals that its rail business suf-fered an operating loss of S$9.6 million for FY16 ended March.

In July, LTA announced that SMRT will transit to a new rail fi nancing framework. Temasek Holdings makes a S$1.68 per share off er to privatise the company, valuing it at S$2.6 billion (RM8.09 billion). Th e deal is approved by shareholders on Sept 29. SMRT is delisted on Oct 31. — Compiled by Chan Chao Peh

In hindsightRunning through SMRT’s 16 years as a listed company, some observations can be made: Saw Phaik Hwa’s appointment came after SMRT had already decided to grow its rentals business; the local train network’s capacity growth was disrupted by a major accident; and the Bukit Panjang LRT has been facing issues for years. And Desmond Kuek was not the fi rst former general to head SMRT.

building an extra track that runs on a sepa-rate power grid to allow trains to continue to move when the normal tracks experience outages,” he says. But he adds that this would be an expensive exercise.

Another problem is that SMRT had not

been allowed to increase its fares to a level that would have allowed it to comfortably re-coup the costs of operating and maintaining its trains and invest in additional capacity. Train fares are set by the Public Transport Council (PTC). In the decade to 2013, when the PTC announced a new fare framework, train fares were more or less stagnant.

In 2008, LTA updated its vision with a Land Transport Master Plan that seemed to recognise some of the challenges of the transport network. It announced its inten-tions to double the train network to 278km by 2020, from 138km at the time. Within the CBD and fringe employment centres at River Valley, Rochor, Newton and Out-ram, the aim is for commuters to have ac-cess to a train station within a fi ve-minute walk. To pay for the expanded network, LTA proposed some changes to the fi nanc-ing framework so that new lines could be implemented earlier even if they were not viable on their own.

Somewhat puzzling, however, was the introduction of LTA’s new role as a “central bus network planner”. LTA propounded a

CONTINUES ON PAGE 18

FROM PREVIO U S PAGE

Compared with other major cities, residents in Singapore live in estates concentrated along the train lines.

1 8 F O C U S WEDNESDAY NOVEMBER 1, 2017 • THEEDGE FINANCIAL DAILY

FROM PAGE 17“hub-and-spoke system”, with feeder bus services taking commuters to transfer hubs so that they could complete their journeys on the MRT or on “trunk buses”. Th is rep-resented a signifi cant change in tone. “Th e entire public transport system should be treated as a whole, not separate parts that is buses versus trains,” the masterplan said. Having many direct bus services would “compromise the overall effi ciency of the public transport system”.

Th en, in its 2013 Land Transport Master Plan, LTA dropped all mention of a hub-and-spoke system. Instead, it emphasised the need to “spread out demand by encouraging off -peak travel” and give commuters more travel options by making it easier to catch a taxi or take part in car-sharing services. By 2030, it plans for eight in 10 homes to be within a 10-minute walk of a train station. And, the bus network will be adjusted “not just to facilitate your connecting journey on our expanded rail system but also to help you reach more places directly and more conveniently”.

Th e continued dissatisfaction with train services suggests that there is still more to be done to expand the whole system, and ensure that commuters have real alternatives when disruptions occur. Lee Der-Horng, a transport researcher at the National Uni-versity of Singapore, says the growth of the MRT network may well mean higher public spending. “I think the population growth will be a major factor for [MRT planning]. If we start having more lines, we’ve got to start thinking about their sustainability,” he says, adding that in bus planning, it is important that “we do not remove bus routes because of MRT lines”.

Park Byung Joon, an urban transport expert at SUSS, suggests that some reform of bus routes might be helpful too. “Lots of bus routes are very long [today]. But we can look into rerouting buses to reduce travel time and provide shorter routes such as constant loops within towns.” Th is may take some load off the train systems.

Hsu Yu-Ting, assistant professor at the National Taiwan University’s department of civil engineering, adds that relying too much on a single mode of transport is not wise. “Over-reliance on a single transportation mode not only leads to serious disruption or suspension during its breakdown but also limits the service coverage of public transport,” he says.

What’s wrong at SMRT?For his part, SMRT CEO Kuek concedes that some of the blame for the disruptions in train services lies with the company. “Much progress has been made with the inculca-tion of a positive work culture, but there remain some deep-seated cultural issues within the company that have needed more time than anticipated to root out,” he said at a press conference on Oct 16. “We have identifi ed that the level of accountability by supervisors is an area that needs to be strengthened. Th e level of ownership and responsibility over what is not working well and the openness in which some of these issues on the ground are reported are areas that we seek to improve.”

Kuek’s comments came after Transport Minister Khaw Boon Wan laid the blame for the Oct 7 and 8 breakdowns squarely on SMRT’s shoulders. At the press confer-ence, LTA and SMRT officials explained that the fl ooding had occurred because two switches failed at the same time. During a downpour, rainwater fl ows into storm-water pits. Th e water tank at Bishan has a 5,000 cu m capacity — roughly that of two Olympic-sized swimming pools. Th e tank is linked to three pumps that are capable of pumping 85 litres of water per second. Th ese pumps are controlled in a single circuit by a stop switch at the bottom of the tank and

three fl oat switches above it. On Oct 7, the stop switch did not work. An alarm switch, meant to act as a fail-safe and using a sep-arate circuit, also failed.

Th e stop switch may not have been ac-tivated due to the build-up of sludge at the bottom of the tank. SMRT says a maintenance check should have taken place in Septem-ber but was delayed for a month, owing to a lack of available track access slots. Main-tenance was slated to take place on Oct 12. SMRT says the maintenance team respon-sible for the anti-fl ood prevention system at Bishan station will have their bonuses cut to inculcate a sense of accountability. At the press conference, Khaw also suggested that it may be necessary to update maintenance policies. “Do you inspect every week? Every month? Right now, it is every quarter. Maybe it is not frequent enough. Th at, we have to change,” he says.

Will these measures achieve any thing? According to former SMRT employees, main-tenance frequencies and procedures are typically based on manufacturers’ stand-ards. Some maintenance plans have to be approved by LTA. Also, SMRT Trains CEO Lee Ling Wee says the sludge build-up was below the switches. Moreover, clearing sludge is not part of the maintenance regime. And, defer-ment for annual servicing is allowed for up to a month under the existing maintenance

A better transparent system also needs better accountability, decision-making

policy. Meanwhile, regional senior engineers point out that switches in anti-fl ooding sys-tems are essentially maintenance-free.

Engineers and transport experts who spoke to Th e Edge Singapore suggest that there may be other more important issues to consider. For instance, how do transport operators report and respond to issues in the system? Are there guidelines for staff to report anomalies? How does SMRT keep track of and respond to problems when staff fl ag them?

“Th ere may be a limited amount of track time to fi x everything [as] teams compete for slots. If you are in charge of component A that has historically never failed, you can easily see how diffi cult it is to argue to be prioritised,” says Th eseira of SUSS. SMRT has only three to fi ve hours of engineering time a night.

SMRT will now also set up a remote mon-itoring system that can send text alerts when water levels rise above a certain level. Pump controls will be relocated to allow staff to turn them on without track access. Radar sensors are also being added to monitor wa-ter levels. Th e train operator has appointed a new chief maintenance offi cer to oversee all maintenance works. SMRT’s chief tech-nology offi cer will also lead the future sys-tems division, which will implement new technologies for predictive maintenance. SMRT aims to hire another 200 rail engineers by 2020. It currently has 500 rail engineers. It will also set up Independent Readiness Inspection teams, which will report to the SMRT Board Audit and Risk Committee.

Do we have the right system?It seems unlikely that any of these measures will immediately satisfy disgruntled commut-ers, or put an end to the public discussion about the city state’s train and bus servic-es. In fact, on Oct 23, an announcement by LTA that it will cut the vehicle growth rate to zero stirred up the issue again. Th e more people have to rely on public transport net-works, the more urgently standards need to be boosted.

Could the manner in which the operators and regulators are held accountable be the problem? David Metz, honorary professor at the centre for transport studies, Univer-sity College London, says good transport networks require good leadership. “Owner-ship is probably less important than polit-ical leadership that sets high standards. In London, we have an elected mayor who is responsible for the city’s transport system and who would be criticised by the media, public and political opponents if there were rail breakdowns. In contrast, for the nation-al rail network, where routes are franchised to private-sector companies, leadership is lacking.”

Th ere are also interesting diff erences be-tween the nature of the train system in Sin-gapore and that in Hong Kong. Th e operator of the Hong Kong train system is MTR Corp, a public-listed company that is hugely prof-itable. Even its fare business makes money. MTR sets its fares based on a fi xed formula, and does not need permission to raise them. It also has diverse businesses, including real estate and overseas operations.

Ultimately, a better transport network needs more than just better maintenance and operating procedures. It also needs better accountability and decision-making. — Th e Edge Singapore

An SMRT train leaves a station in Singapore. SMRT will now also set up a remote monitoring system that can send text alerts when water levels rise above a certain level. Photo by Reuters

People embark an SMRT train during morning rush hour in Singapore. SMRT aims to hire another 200 rail engineers by 2020. It currently has 500 rail engineers. Photo by Reuters

W O R L D 1 9WEDNESDAY NOVEMBER 1, 2017 • THEED G E FINANCIAL DAILY

China, S Korea agree to shelve THAAD spatMove boosts stocks, paves the way for closer ties

BY K A N G A KO N G & J I Y E U N L E E

BY C H R I S S T R O H M

Mueller’s Trump collusion road map

North Korea denies involvement in WannaCry cyberattack

SEOUL: South Korea and China agreed to move beyond a year-long dispute over Seoul’s decision to de-ploy a US missile shield, boosting stocks and paving the way for clos-er ties between the two countries.

Th e nations agreed to restore bilateral relations to a “normal development path swiftly,” South Korea’s foreign ministry said in a statement. Chinese President Xi Jinping plans to meet South Ko-rean counterpart Moon Jae-in at the Asia-Pacifi c Economic Coop-eration summit in Vietnam next month, Nam Gwan-pyo, a South Korean national security offi cial, told reporters separately.

Th e Terminal High Altitude Area

Defense system, known as THAAD, is designed to defend South Korea from an attack by North Korea. While Moon initially called for a review of the deployment, his government backed the system as Kim Jong-un’s regime accelerated eff orts to obtain the capability to hit the continental US with a nuclear weapon.

Th e won extended gains after news of the agreement, appreci-ating as much as 0.3% against the US dollar as of 11.07am.

China is South Korea’s largest trading partner, buying about a quar-ter of the country’s exports. Th e de-ployment of THAAD has shaved 0.4 percentage points off South Korea’s gross domestic product expansion in 2017, according to Bank of Korea estimates, preventing it from growing

at the fastest pace since 2011.Th e agreement comes shortly

before US President Donald Trump visits Asia. China has strongly op-posed the introduction of the US-made system, saying it would break the “strategic equilibrium in the region.”

In a statement, the two sides agreed that “South Korea-China relations are very important, and in accordance with the spirit of joint documents, decided to de-velop their strategic cooperation partnership.”

Lotte Shopping Co and duty-free store operator Hotel Shilla Co rose after the agreement. Hyundai Motor Co rebounded along with its sup-plier Mando Corp, and Hyundai Mobis Co. — Bloomberg

WASHINGTON: Th e indictment of President Donald Trump’s for-mer campaign chairman cap-tured the top headlines, but a second action by special coun-sel Robert Mueller may have re-vealed more about the direction of his secretive investigation.

Mueller signalled on Monday that he’s aggressively pursuing leads that Trump or those around him may have colluded in Russia’s meddling in last year’s presiden-tial campaign by disclosing a plea agreement with George Papado-poulos, who served as a foreign policy adviser during Trump’s campaign. Papadopoulos pleaded guilty on Oct 5 to lying to Federal Bureau of Investigation inves-tigators about his contacts with Russian operatives and is now cooperating with prosecutors.

Th at may ultimately prove as worrisome for Trump and his law-yers as the action against former campaign chief Paul Manafort and his long-time deputy Rick Gates, who were charged with crimes including money laundering and illegal foreign lobbying. Th ey were placed under house arrest as fl ight risks after pleading not guilty.

In combination, court fi lings released by Mueller on Manafort,

BY E D D AV I E S

JAKARTA: Indonesia’s capital has shut a hotel and spa complex for alleged vice, city offi cials said on Monday, after Islamist groups in the Muslim-majority country had urged Jakarta’s governor to act on a campaign pledge to shut the premises.

Th e Alexis Hotel, whose web-site describes it as a “dreamland for men”, became embroiled in the city’s recent election when the new governor, Anies Baswedan, promised in a televised debate

SEOUL: North Korea has slammed Britain for accusing it of being be-hind a global ransomware attack that hit the National Health Service, calling the allegation a “wicked at-tempt” to further tighten interna-tional sanctions against Pyongyang.

A third of Britain’s public hos-pitals were aff ected by the Wanna-Cry worm in May, according to a government report.

Up to 300,000 computers in 150 countries were hit by Wan-naCry, which seized systems and demanded payment in Bitcoin to

BY J U L I E A S T R I D T H O M S E N

& S T I N E J A C O B S E N

COPENHAGEN: Danish inventor Peter Madsen has admitted to dismembering Swedish journalist Kim Wall on board his submarine in August and dumping her body parts in the sea, but he still denies killing her, police said on Monday.

Th e police said in a statement Madsen had told them in an Oct 14 interrogation that Wall, 30, had died from carbon monoxide poi-soning inside the submarine, while he was on the deck of the vessel.

Th e police would now gather additional information from coro-ners and submarine experts from the Danish defence command.

In past court hearings, Madsen

Gates and Papadopoulos show that federal investigators have access to years of tax records and inter-national fi nancial information, as well as emails and other commu-nications, for offi cials who served on Trump’s campaign. Th e docu-ments also reveal that interactions between the campaign and Russia occurred earlier, and were deeper, than previously documented.

Papadopoulos told investiga-tors that before joining Trump’s campaign he spoke to “an overseas professor” who “told him about the Russians possessing ‘dirt’ on then-candidate Hillary Clinton in the form of ‘thousands of emails,”’ according to court documents.

In truth, the court fi ling said, the conversation occurred after Papadopoulos became a Trump campaign adviser in March 2016, and the “professor only took inter-est” in him “because of his status in the campaign.” It said the professor also introduced Papadopoulos to a “female Russian national” who was introduced as “a relative of Russian President Vladimir Putin with connections to senior Russian government offi cials.”

Trump had named Papadopou-los as one of his foreign policy ad-visers and called him an “excellent guy” in a Washington Post interview that month. — Bloomberg

return control to users.Some researchers have pointed

the finger at Pyongyang, saying that the code used was similar to past hacks blamed on Kim Jong-un’s regime.

British Home Offi ce Minister Ben Wallace told the BBC last week that London was “as sure as possible” that North Korea was responsible.

But a spokesman for the North’s Korea-Europe Association denied the accusations and warned Britain against “groundless speculation”.

“Th is is an act beyond the limit of

our tolerance and it makes us ques-tion the real purpose behind the UK’s move,” he said, in a statement carried by the offi cial Korean Central News Agency late on Monday.

“Th e moves of the UK govern-ment to doggedly associate the DPRK with the cyberattack can-not be interpreted in any other way than a wicked attempt to lure the international community into harbouring greater mistrust of the DPRK,” the spokesman said, using the initials of the North’s offi cial name. — AFP

Danish submarine owner admits to dismembering journalist — police

said that Wall had died accidentally after being hit by a heavy hatch cov-er on his UC3 Nautilus submarine.

Th e police said they would now extend the charges against Madsen — which already include murder and mutilating Wall’s body — to include sexual assault without in-tercourse, based on 14 interior and exterior stab wounds to the jour-nalist’s genitals.

“Kim Wall had suff ered 14 stabs in and around the genitals and it is due to these stabs that we have said that there must have been a sexual motive,” police spokesman Jens Moller Jensen told journalists in Copenhagen.

Madsen denies the murder and sexual assault charges. — Reuters

Jakarta closes Alexis Hotel to shut it and accused his prede-cessor of only acting against more downmarket venues off ering vice and drugs.

Edy Junaedi, head of the Jakarta Capital Investment and One-stop In-tegrated Services agency, confi rmed by telephone on Monday that the hotel’s permit had not been renewed.

Islamist groups had previously sent a letter to authorities demand-ing the hotel be closed, but later called off a proposed protest rally outside the venue for security and technical reasons, state news agen-cy Antara said. — Reuters

20 live it! W E L L B E I N G . T H E A R T S . W I N E + D I N E . S T Y L E + D E S I G N . L E I S U R E

WEDNESDAY NOVEMBER 1, 2017 • THEEDGE FINANCIAL DAILY

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

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

THIS new month, break out of your shell by joining the Broadway Theatre Society Malaysia (BTSM). Whether it’s singing, dancing, or acting that you’re passionate about, BTSM has it — the three groups within the society are the BAVE Community Choir, the Broadway Dance Group and the Repertory Theatre Club. The BTSM strives to provide various activities and performance opportu-nities for their members, such as through re-citals, concerts and corporate performances. All three groups are open to anyone aged 18 and above with a passion for the stage arts, and best of all, no audition or prior experi-ence is required to become a member. The BTSM is located in Dataran Cascades, on Jalan PJU5/1, Kota Damansara PJU5, Pet-aling Jaya, Selangor. For more details, visit www.btsmalaysia.com or call (03) 7610 0879.

DRINK Heineken to win exciting rewards under the “Heineken Live Your Music” campaign. All through November, 100 music experiences are up for grabs for Heineken Malaysia con-sumers and their friends, including fl ights and tickets to various music events, as well as the grand prize of the Heineken Live Your Music Ultimate Music Journey to the USA. For every bottle or glass consumed, a point is rewarded on a scratch card with a unique code to be submitted via SMS, after which points will be updated on an online leader-board. For more information, or to view the leaderboard, visit www.heineken.com/my.

E N J O Y t h e evening with a small dog who thinks he’s a bal-lerina. Dogs Don’t Do Ballet, based on Anna Kemp’s children’s book of the same name, is a light-hearted comedy, where Biff spends his spare time practising his pliés and pirouettes, instead of doing other dog things like peeing on fi re hydrants. The story is brought to life using skilful puppetry and original music, a guar-antee for a delightful time at the theatre for children and adults alike. Biff dances at the PJ Live Arts from today to Nov 23. For ticket-ing and showtimes, visit www.pjlivearts.my.

In 1999, English playwright Sa-rah Kane wrote 4.48 Psychosis, a non-narrative play which echoes her experience with severe clini-cal depression. The play is Kane’s most fragmented piece of work,

presented as episodes in the protagonist’s stream of consciousness; it was also her last work — shortly after completing the play, Kane committed suicide at the age of 28. The play premiered posthumously in 2000 at the Royal Court Theatre in Lon-don, and since then, each production of the play has varied greatly, owing to the vague nature of the script.

Ahead of Kelvin Wong’s upcoming production of this play, we spoke to the director and founder of local theatrical company Theatresauce to discuss his take on this intense piece of theatre and how he’s made 4.48 Psychosis his own.

Live It!: Why did you choose to stage 4.48 Psychosis?Kelvin Wong: I first directed this play two years ago in New York, as my fi nal project in graduate school. Back then, I directed it as an experiment in style, as a culmination of everything I had learnt, and so the subject matter did not stand out as much. Th is time round, I delved into the subject matter itself, as I realised that the subject of clinical depression has become a major topic on social media. It also became more of a personal thing, as after returning from New York, I got into

Director Kelvin Wong

gives his take on English

playwright Sarah Kane’s

4.48 Psychosis

MENTAL GAMES

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

a bout of depression myself, where I was questioning my purpose and ambitions. When I picked up the play again, I found a lot of similarities between what Kane went through and what I was going through. Having spoken to my friends and class-mates, I then realised that depression was not something that I was going through alone, but something that a lot of people battle at some point in their lives, and that nobody wants to admit it or knows how to express it. Th is is why 4.48 Psychosis has become such an important production, as well as a very personal one, because even though clinical depression is quite prevalent in our society today, we don’t know how to deal with it, or how to help our loved ones when they experience it.

Tell us about the challenges you faced in directing 4.48 Psychosis.Th e original script is non-narrative and non-linear, and so there is no explicit sto-ry. Th e play is made up of episodes that the protagonist goes through while bat-tling depression, put together to create a sort of montage. Th at makes it challenging to put up, because I had no specifi c story to refer to, and so there was no sure way of telling if what I was doing was right or wrong. What I did was come in as a direc-tor and set my own rules and boundaries to work with, and from there I was able to gauge whether I was closer to the story I wanted to tell as a director.

What was the general concept you had in mind when you interpreted the script for the stage?I drew from my own experience with depression, where I felt like our minds travel from one place to another. And so in the play, each episode is a world on its own. If there were a story, it would be the story of a person travelling through diff erent places in her head while trying to fi nd light amidst all the darkness. Th is is where sound and lighting comes in to

bring our audience aboard the roller-coaster ride of our protagonist’s mind, travelling from a game show to a clinic to a dance club. Every world is distinct, but there are symbols and motifs in each world that connect the stream of con-sciousness throughout the entire play.

Th e Netfl ix series 13 Reasons Why re-cently sparked a controversy over its graphically explicit depiction of the main character’s suicide. The show received a lot of criticism for glamor-ising suicide, as well as for handling the topic of suicide irresponsibly and insensitively. In light of that, how did you handle the similarly sensitive topic of clinical depression in 4.48 Psychosis?What I have seen in previous productions of 4.48 Psychosis is that, even from the very beginning, we see that the protag-onist wants to die, which can get a little grating as the rest of the play is just about “I want to die, I want to die”. Th e direction we have chosen to take, however, is to show that while the protagonist has a lot of darkness in her mind, she does want to get out and she does try very hard to save her life. Th erefore the play is not so much about suicide —because it is not about suicide — as it is about someone who is struggling to stay alive, but has reach the end of her road and really does not know what to do. We hope that the audience can then empathise with her and understand her choice to leave this world and go somewhere else, regardless of whether she does take her life or not.

I think glamorising suicide comes from using a popular medium, such as televi-sion, to clearly carve out and highlight the moment in which suicide takes place. None of that happens in our production of 4.48 Psychosis, as there is no explicit suicide scene, but rather the focus is on the battle the protagonist fi ghts to get out of her predicament. Th ere are peo-

CONTINUES NEXT PAGE

The focus is on the battle the protagonist fi ghts to get out of her predicament.

live it! 21

W E L L B E I N G . T H E A R T S . W I N E + D I N E . S T Y L E + D E S I G N . L E I S U R E

WEDNESDAY NOVEMBER 1, 2017 • THEED G E FINANCIAL DAILY

SPEND BY F R E D E R I K B A L FO U R & D A N I E L A W E I

The Hong Kong shopping experience is changing

‘What is light, and how do we fi nd light when darkness approaches?’

ple around her within the play who try to help her — there is a psychiatrist, a father, and a friend — but they don’t know how to either, which is quite refl ective of our world today, where none of us know how to deal with depression. Which is why we have collaborated with groups like Th e Mind Psychological Services and Training, as well as Relate Malaysia, to set up booths outside the theatre for anyone who wants more information on mental health. We will also have post-performance conver-sations with the audience after the shows on Fridays and Saturdays, accompanied by licensed clinical psychologists.

Is there a specific impact you intend

for the audience to feel from watching the play?We hope that the play will become a starting point for people to talk about depression, and help make it less of a taboo. If you had depression a hundred years ago, people would probably think you were crazy. Now-adays, while depression remains a taboo topic, people are slowly becoming more comfortable talking about it – but it is still not enough. Also, just because people talk about it, doesn’t mean depression simply goes away. Do we know how to cope with it, or how to help and support one another through it? It is not something that is taught in school — we are taught civic conscious-ness and how to be a good Malaysian, but there is very little on how to take care of

ourselves. And so through the play, we pose the question “what is light, and how do we fi nd light when darkness approaches?” — light being our dreams, hopes and ambi-tions, and darkness being cynicism, doubt and fear. When we fi nd ourselves caught in this rut, what are we going to do?

Does the play actually answer these questions?No, and I think that is exactly the point. Th e play does not explicitly give a solution for dealing with depression. Th is is not an ac-ademic presentation of depression, where you are presented with solutions. What you would experience by watching the play is empathy for someone going through that journey and deciding to end it, for you to

then come up with your own conclusions as to what you would do when faced with such a situation — be it whether you expe-rience depression fi rst-hand, or a friend of yours experiences it. Instead of providing you with answers, it is meant to raise even more questions, and the answers will then come from yourself. Th at is how I feel we can change the world that we live in.

4.48 Psychosis runs from tomorrow until Nov 12 at the Indicine in Kuala Lumpur Performing Arts Centre. Th e production features Phraveen Arikiah, Claudia Low, Alex Chua and Veshalini Naidu. For tick-eting and showtimes, visit www.klpac.org or call (03) 4047 9000.

FROM PR E V I O U S PAGE

TO gauge how much the Hong Kong shop-ping experience is changing, take a walk through Pacifi c Place mall. Burberry Group plc has shrunk its store and the space now also houses a Pure Yoga studio and juice bar. A Coach outlet has been replaced by a tea company. Some of Louis Vuitton’s space has given way to a Southern California-style bar and restaurant.

Gone are the days when Chinese would queue up to get inside Prada, Gucci and Tif-fany, and leave laden with luxury handbags and watches. Th e wealthiest now travel fur-ther afi eld, and even those who visit Hong Kong are cutting back. Average spending per overnight visitor, of whom three quar-ters come from China, dropped 8.8% in the island city last year. Luxury goods have been the hardest hit, with August sales less than a third of their April peak in 2013 before China cracked down on conspicuous consumption.

Buying habits of Chinese shoppers have also evolved, as they have become more comfortable buying luxury brands at home or online, and have become more price-sen-sitive when shopping abroad. Th is is having an impact on the US$390 billion (RM1.65 trillion) global luxury goods market and nowhere is it being felt more than at Hong Kong’s malls.

Since the downturn, Pacifi c Place owner Swire Properties Ltd has refreshed its tenant mix to cater to changing spending habits and woo new visitors. It has signed 30 new tenants and doubled the number of food and beverage outlets in the past 18 months. Other landlords, including Wharf Holdings Ltd and Hysan Development Co, are also including more lifestyle and food outlets.

Still, as visitor arrivals and retail sales start to rebound, there’s limited upside for Hong Kong’s landlords, said Patrick Wong, Bloomberg Intelligence property analyst in Hong Kong. “Receipts might be stable and resilient, but if things turn better, they may not be able to capture the growth there,” he said.

Glittering diamondsFor mall owners, broadening their mix of tenants is helping blunt the negative impact of lower retail sales, although a return to the heady times looks unlikely. No matter how many cups of cold brew Starbucks sells, or shoes Nike fl ogs, they won’t be enough to off set the drop in sales of US$10,000 hand-bags and glittering diamond necklaces. Landlords earn less through the portion of receipts tenants must share with them,

and they’ve had to drop base rents for new tenants as well.

In the fi rst half, retail revenue for Swire dropped 0.2% and Hysan’s fell 0.1%, said Wong. Meanwhile Wharf, Hong Kong’s biggest retail landlord, saw sales growth of 3% because its mammoth Harbour City mall is less reliant on luxury sales.

Still, performance might have been weak-er had Swire left things as they were. “Th e revamp of our tenant mix has put us in a strong position for 2017, especially with sales at our mall improving since mid-2016, even amid a very challenging retail market,” Fiona Shiu, general manager of Pacifi c Place said in an email.

Pacifi c Place mall posted sales growth in the fi rst two quarters of 2017. Traffi c has

been encouraging, with increased car park use, it said. “We are confi dent that this pos-itive trend will continue,” said Shiu.

While Burberry, Diane von Furstenburg Studio LP and LVMH Moet Hennessy Lou-is Vuitton have decreased the size of their stores in Pacifi c Place, they aren’t pulling out altogether. Coach, which no longer has an outlet in the mall, said it is investing to renovate its Hong Kong locations and re-mains committed to the market.

“It’s a cycle, luxury brands won’t abandon Hong Kong, they will reduce the number of their stores,” said Nicholas Bradstreet, a managing director at Savills plc in Hong Kong. “Hong Kong has always been very resilient, but there is a caveat, it is not go-ing to bounce back to the heyday of 2013.”

Huge evolutionAudemars Piguet Holding SA’s chief executive offi cer (CEO) Francois-Henry Bennahmias, agrees, noting that the exclusive Swiss watch-maker will have eight Hong Kong stores by year end, down from 16 at the beginning of 2016. “Th e wealthiest people on the planet don’t go to stores as much, stores have to go to them. Th at gold hunt that we lived for 20 years in the biggest avenues in the world is gone for luxury brands,” he said in an inter-view. “We are going to see a huge evolution in the next years.”

His message to landlords? “I say if you push us too far again, we will leave. Th ere is a limit to what can be digested by a brand fi nancially, and if goes too far then we will do something else, will go somewhere else.”

Swire’s new tenants include a barber sa-lon cum whisky-tasting spot and a Japanese green tea dessert shop, services you can’t get online. “More owners are trying to bring more traffi c in and they have to increase the dwell time,” said Bradstreet. “Consumers who spend more time in a shopping centre are going to spend more money.”

Food and beverageLast year, the average Chinese tourist trav-elling overseas spent about 17% less on shopping, but more on leisure and enter-tainment, according to the consultancy Oliver Wyman.

Hong Kong isn’t the only Asian city where things are evolving. Mall operators in Sin-gapore have turned to unique lifestyle or dining concepts to stand out in a compet-itive landscape. Th e proportion of food and beverage tenants in Singapore malls has doubled to 40% in the last 10 years, accord-ing to Desmond Sim, head of research for Singapore and Southeast Asia at real-estate services fi rm CBRE Ltd.

Burberry has renegotiated leases and is keeping a tight control on all operating expenses, the company’s then CEO Chris-topher Bailey said in November.

For Pure, whose owners are said to be seeking to sell a controlling stake in the gym chain, the new high-profi le location in Hong Kong is a bonus. “Having Pure Yoga Pacifi c Place in the prime space of Hong Kong’s premium lifestyle and shopping destina-tion, alongside luxury brands such as Prada, Hermes and Louis Vuitton, is a testament to the increased signifi cance of health and wellness in the city,” the company said in an email. — Bloomberg

The new Pure Yoga studio at Pacifi c Place mall in Hong Kong. Photo by Bloomberg

A fi lepic of a window display outside a Gucci store at Tsim Sha Tsui shopping district in Hong Kong. Gone are the days when Chinese would queue up to get inside Prada, Gucci and Tiff any, and leave laden with luxury handbags and watches. Photo by Reuters

2 2 F E AT U R E WEDNESDAY NOVEMBER 1, 2017 • THEEDGE FINANCIAL DAILY

Singapore is fi nding it harder to grow, literallyNeighbouring countries have banned sand exports to the Lion City over the years

BY M E L I S S A C H EO K

Singapore’s ministry of national development says the country has been recycling excavated materials from construction sites to use in some projects, and last year, it piloted a new method to reclaim land that uses less sand than traditional ways. Photo by Bloomberg

In Singapore, sand is just as precious a resource as oil and water. Securing a steady sup-ply is proving to be trickier these days.

By filling the sea along its coasts with imported sand, the tiny island nation has expanded its physical size by about 24% since 1960, according to data from the Singapore Land Authority.

At just 278 square miles (72,001.7ha), the country is small-er in size than New York City. Yet some of Singapore’s key assets — like its shipping port, one of the world’s busiest, and the airport, which is rated among the world’s best — cur-rently sit on land that didn’t previ-ously exist. Th e same goes for many of the new skyscrapers that make up the iconic skyline of the city, like the Marina Bay Sands hotel and casino.

Getting a steady supply of sand to keep extending the shoreline has become more complicated over the years. Singapore’s biggest suppliers in the past, including Indonesia and Vietnam, have halted some sand exports amid environmental con-cerns and political considerations about shipping lanes and territorial boundaries.

In July, Cambodia became the latest country to ban sand ship-ments to Singapore following pres-sure from activists alarmed by the

negative consequences of massive dredging on coastal mangroves.

Singapore imported 38.6 million tonnes of sand last year, according to data from the United Nations, with more than half of that coming from Malaysia. Authorities there reviewed a decision last year on a total ban, allowing purchases on a case-to-case basis, according to Malaysia’s ministry of natural re-sources and environment.

Singapore’s government says it has measures in place to ensure it’s prepared for a disruption in sand imports, “such as tapping on oth-er sources from a diverse range of countries” and seeking alternative ways to reclaim land.

“We will also continue to explore

new and innovative means to reduce Singapore’s reliance on sand,” the ministry of national development said in a response to questions. For example, Singapore has been recy-cling excavated materials from con-struction sites to use in some pro-jects, and last year, it piloted a new method to reclaim land that uses less sand than traditional ways, it said.

The government has plans to continue expanding its land size and said in a 2013 proposal that it expects to increase its land size to 296 square miles by 2030 to further support economic and population growth. Th e proposal is undergoing its regular review, according to the ministry of national development. — Bloomberg

BY A D A M M I N T E R

China could fi x Puerto Rico’s failing power system

LAST weekend, offi cials in Puerto Rico announced that they’re pulling the plug on a controversial US$300 million (RM1.26 billion) contract to rebuild the island’s electrical grid after Hurricane Maria.

Th e previous contractor, White-fi sh Energy Holdings LLC, a Mon-tana company with just two full-time employees prior to the award, will leave the island within 30 days, while offi cials try to fi nd an alter-native plan.

With no resolution in sight, and roughly 70% of the island’s residents still without power, Puerto Rico should turn to companies with real expertise in repairing power grids in developing regions.

Of these, none would be a better fi t than State Grid Corp of China. Th e mere idea might raise nation-al security alarms in Washington. But it’s worth asking: What would it look like if China’s biggest power company were given the chance to

rebuild Puerto Rico’s grid?It’s a question that should have

been asked long before Hurricane Maria. A 2016 independent assess-ment of the Puerto Rico Electric Power Authority (Prepa), the is-land’s electric utility, noted that its “transmission and distribution systems are falling apart quite lit-erally” and that it is “failing at the basic mandate of an electric util-ity, which is to safely and reliably supply electricity to its customers”.

Making matters worse, fossil fu-els, all imported, account for 98% of electricity generation, leaving the utility vulnerable to physical and market disruptions. In 2017, Prepa fi led for bankruptcy.

Th anks to Maria, Prepa is now in the unfortunate position of having to both restore power and create a modern grid that delivers reliable energy.

Funding for the former task has been secured; it’s unclear who will pay for the latter. But in all like-lihood, Puerto Rico will need to privatise its electric grid and hand the upgrade and operations to an outside contractor.

If that happens, State Grid would be a good fit.

Formed in 2002, it’s now the dominant electrical utility in Chi-na, serving one in seven people on the planet.

Much of that growth has been achieved by building in some of the world’s most inaccessible terrain.

In 2014, State Grid began work on a US$1 billion, 945-mile (1,521km) transmission line in a mountainous area between Ti-bet and Sichuan Province that re-quired workers to labour at 12,500 ft (3,810m), on average. Puerto Rico’s terrain — though diffi cult — is comparatively simple (and low-altitude).

State Grid also works fast. Th e

Tibet line was completed in less than a year, well ahead of schedule.

Last year, China announced a US$107 billion programme to up-grade its rural grid over four years. Th at project will serve hundreds of millions of people.

Puerto Rico, with a population of 3.4 million, doesn’t even have a timeframe for its upgrade; State Grid could undoubtedly make it happen quickly.

More crucially, it would be able to do it well. Over the past 20 years, State Grid has become one of the world’s leading developers of re-newable energy generation and transmission technologies.

Both will be crucial if Puerto Rico is going to wean itself off its fi nancially and environmentally ruinous dependence on imported fossil fuels.

Meanwhile, State Grid has been an eager adopter of “smart grid” tech-nologies that can adjust power fl ows for effi ciency and safety, which could go a long way toward preventing or mitigating future disasters.

But perhaps most important, State Grid has the money and the

desire to do the job. It generates nearly as much revenue in a year as Boeing Co and Apple Inc combined.

Since 2009, it has offi cially “gone global” with investments in Brazil, Portugal, Australia, Italy and the Philippines, where it runs the na-tional grid. Given the chance for a similar concession in Puerto Rico — with the potential for both profi t and prestige — there’s little ques-tion that it would say yes.

To be sure, there would be some national security concerns about such a deal. China could, for in-stance, threaten to shut down the grid in a theoretical confrontation with the US.

But many of these concerns could be allayed beforehand — for in-stance, by requiring that the actual operation of the concession be re-stricted to locals and US citizens, and that the technology involved be subjected to regular security audits.

These don’t seem like insur-mountable obstacles. And from the perspective of Puerto Ricans going on a second month without electricity, there isn’t much left to lose. — Bloomberg

Puerto Rico will need to privatise

its electric grid and hand the upgrade

and operations to an outside contractor.

S P O RT S 2 3WEDNESDAY NOVEMBER 1, 2017 • THEED G E FINANCIAL DAILY

Under Armour slashes forecasts It struggled against fi erce competition from Nike, Adidas

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

BY G AYAT H R E E G A N E S A N

BY K E N F E R R I S & G E N E C H E R RY

BENGALURU: Under Armour Inc slashed 2017 forecasts and report-ed its fi rst quarterly fall in revenue since going public as the sportswear fi rm struggled against fi erce com-petition from Nike and Adidas in North America.

Shares in the maker of Stephen Curry basketball shoes, already

among the worst performing stocks on the S&P 500 in the past year, fell 16% to US$13.82 (RM58.46) in pre-market trading.

Rival Nike also fell as did shares in several retail chains which sell Under Armour’s products — Dick’s Sporting, Finish Line and Hibbet.

Th e sportswear maker struggled again in its biggest market, North America, as a lack of innovation

coupled with an intensifying price war among retailers ate into profi ts.

One part of the company’s trou-bles is linked to the waning de-mand for athleisure fashion, where customers wear exercise clothing in both casual and formal envi-ronments.

Retail chains which stocked these items heavily not long ago are now reducing shelf space, spur-

ring a 12% decline in wholesale revenue for Under Armour.

Th e repositioning of Adidas, an underdog only two years ago in North America, has also exacer-bated Under Armour’s problems as the German fi rm won back cus-tomers with cleverly tweaked retro lines of shoes.

Under Armour’s revenue fell 4.5% year-on-year in the quarter

ended Sept 30, its first such de-cline since going public in 2005. Th e company also blamed “oper-ational challenges” related to the upgrading of its IT systems for the drop in sales.

Th e Baltimore, Maryland-based company cut its forecast for the percentage rise in full-year revenue to the low single-digits from 9% to 11% earlier. — Reuters

PYEONGCHANG: With little more than 100 days to go before the 2018 Winter Olympics in South Korea, chief organiser Lee Hee-beom has dismissed fears of a potential attack by the nuclear-armed North as an “exaggeration”.

Several countries have expressed concerns about the Pyeongchang Games, which will take place in February just 80km from the heavily fortifi ed Demilitarised Zone, which divides the Korean Peninsula.

North Korea carried out its sixth nuclear test in September — by far its most powerful yet — and has lobbed missiles over Japan into the Pacifi c, while trading insults and threats of war with Washington.

But Lee told AFP that worries about a possible attack on Pyeong-chang were overblown, and although contingency plans are in place, he does not believe they will be needed.

“Korea was not divided yes-terday, Korea has been divided since 1945,” the president of the Pyeongchang Organising Com-mittee for the Olympic Games

Nuclear attack fears ‘exaggeration’, says Pyeongchang Games chief

said in an interview.Th e South has held several “very

safe and secure sports events”, he said. “Pyeongchang is not the ex-ception,” he added, calling fears of an attack “a kind of exaggeration”.

France, Germany, and Austria have raised concerns about the safety of their athletes during the Games, while Britain has drawn up evacuation plans in case of an emergency. — AFP

Lee (right) taking over the Olympic fl ame from Greek Olympic Committee president Spyros Kapralos during a handover ceremony held at the Panathenaic Stadium in Athens, Greece yesterday. Lee told AFP that worries about a possible attack on Pyeongchang were overblown, and although contingency plans are in place, he does not believe they will be needed. Photo by AFP

LONDON: Britain’s Olympic and world champion Mo Farah (pic) has split with long-time coach Al-berto Salazar because he wants to move back to London with his family, he said in an interview on Monday.

Distance great Farah, who moved to Portland, Oregon in 2011 to work with distance guru Salazar, said the decision had nothing to do with doping alle-gations surrounding the coach, which had been denied.

“I’m not leaving the Nike Ore-gon Project and Alberto Sala-zar because of the doping allegations,” Farah, 34, was quoted as saying by Th e Sun newspaper’s website (www.thesun.co.uk).

“Th is situation has been going on for over two years, if I was going to leave be-cause of that I would have done [so].”

In February, Salazar denied administering banned sup-p l e m e n t s to his ath-

letes and issued a fi rm rebuttal of what he said were false alle-gations against him in a British newspaper.

Th e Sunday Times reported that American Salazar had used pro-hibited infusions of supplements to improve the performance of his runners, citing what the news-paper said was a leaked US An-ti-Doping Agency (USADA) report.

But Farah said on Monday’s interview: “As I’ve always said, I am [a] fi rm believer in clean sport and I strongly believe that anyone who breaks the rules should be punished.

“If Alberto had crossed the line I would be out the door but USADA has not charged him with anything. If I had ever had any reason to doubt Alberto, I would not have stood by him all this time.”

— Reuters

Farah splits with coach Salazar, moving back to London

2 4 S P O RT S WEDNESDAY NOVEMBER 1, 2017 • THEEDGE FINANCIAL DAILY

Woods announces return in NovemberHe is to come back at the Hero World Challenge in the Bahamas

I N BR I E F

ALL-NEW SUPERBIKES ... BMW Motorrad Malaysia introduces the all-new (from left) BMW G 310 GS, BMW HP4 Race and BMW S 1000 XR at the Malaysian Motorcycle Grand Prix (MotoGP) 2017 at the Sepang International Circuit last Friday. The premium motorcycle maker continues to excite fans in the country with maximum sporting performance and reliable rugged adventure motorcycles at the MotoGP 2017. BMW Motorrad Malaysia head Owen Riley said, “If the MotoGP is the largest motorcycle racing event in Malaysia, then it is only natural that the event is also where BMW Motorrad Malaysia will have our biggest presence and showing of the year. This year, we are presenting three new motorcycles which motorrad fans here have been waiting for since they were fi rst teased at the EICMA exhibition in Milan last year! The all-new BMW HP4 Race — our pure racing superbike created only for the race track! The much anticipated all-new BMW 310 GS and the super adventure sports tourer, BMW S 1000 XR.”

LOS ANGELES: Tiger Woods will make his latest return from long-term injury at the Hero World Chal-lenge in the Bahamas next month, the former world No 1 confi rmed on Monday.

Th e 14-time major champion has not played since February af-ter recurring back problems which forced him to miss the 2015-2016 season.

“I am excited to return to com-

petitive golf at the Hero World Chal-lenge,” said Woods, who also made his last comeback at the tourna-ment in Albany which benefi ted his charity foundation.

Woods is included in an 18-man fi eld featuring many of golf’s elite, including world No 1 Dustin John-son and world No 2 Jordan Spieth.

Woods has not played a com-petitive round since firing a 77 in the first round of the Dubai

Desert Classic in February.Woods withdrew from the event

the next day and underwent another back operation in April, his fourth back surgery in all, that sidelined him for the remainder of the season.

Since then, Woods has posted videos during his battle to regain fi tness, most recently footage of him fi ring a “stinger” shot with a long iron.

During his latest injury layoff ,

Woods served as a US team assis-tant captain at the Presidents Cup last month where he said he was uncertain if he would ever return to competitive golf.

Th e golf superstar has also bat-tled demons in his private life, and was arrested for driving under the infl uence in May after being found asleep in his Mercedes-Benz by the side of a road near his home in Florida. — AFP

SYDNEY: Australia will conduct a world-fi rst trial of red and yellow cards for coaches and other football team offi cials aimed at improving their behaviour on the touchlines, it was announced yesterday.

Th e new measures will be in-troduced this weekend in the do-mestic A-League and the wom-en’s W-League.

Approval for the move was giv-en by the International Football Advisory Board, which comprises the four British football associa-tions (England, Scotland, Wales and Northern Ireland) and world body Fifa.

“Referees already have a process which is by way of conversation to coaches to warn them before re-moving them from the technical area after poor behaviour,” said A-League head Greg O’Rourke.

“Essentially, this trial will visualise those steps and as such better communicate to fans that the referees are giving the coach-es and others formal warnings.”

Th e consequence of accumu-lating cards will be the same as for players, with two yellows in a single match resulting in a send-ing-off and automatic suspension from the next game.

Coaches will earn cautions for dissent, provocative gesturing or entering the opposition’s tech-nical area, among other things.

They will be red-carded for offences including kicking or throwing water bottles, abusive language, spitting at someone, or holding up a game by holding onto the ball or obstructing a player.

“It will help fans and viewers better understand the issues that match offi cials face on a weekly basis and help promote respect towards them,” added O’Rourke.

“Importantly it will send a strong message throughout the game at grass-roots level that poor behaviour towards match offi cials and opposition team of-fi cials is unacceptable and carries consequences.” — AFP

Australia to trial yellow, red cards for coaches

Malaysia fi ned US$30,000 over ‘dog’ chantsKUALA LUMPUR: Malay-sia’s football body was fined US$30,000 (RM126,900) yes-terday after the national team’s fans chanted “dogs” at support-ers from Singapore and Brunei during matches at the Southeast Asian Games. Malaysian sup-porters chanted “Brunei dogs should just be killed” during their side’s 2-1 victory over the neighbouring country on Aug 14 at the Kuala Lumpur-hosted tournament, the Asian Football Confederation (AFC) said. Two days later the fans also chanted that Singaporeans were “dogs” as Malaysia beat the city state 2-1. Th e AFC’s disciplinary com-mittee fi ned the Football Asso-ciation of Malaysia US$15,000 for each of the offences. The AFC also issued a warning to the Hong Kong Football Associ-ation after home fans booed the Chinese national anthem during an Asian Cup qualifi er against Malaysia this month. — AFP

Witchcraft helped us win, says Sri Lanka captainCOLOMBO: Sri Lanka’s sur-prise two-match Test cricket win against Pakistan this month was down to witchcraft, captain Dinesh Chandimal said yester-day, drawing mockery on social media. Chandimal told reporters he had received a special bless-ing from a meyni, or sorcerer, ahead of the two-match series in the United Arab Emirates. “I am always ready to accept the blessings of anyone — whether it is a meyni or any clergy,” Chan-dimal told reporters after return-ing to Colombo. “You can have talent, but without this blessing you can’t move forward.” — AFP

Austria’s Schlierenzauer out with knee injuryVIENNA: Austria’s record-break-ing ski jumper Gregor Schlieren-zauer will miss the start of the World Cup season next month after a fresh knee injury during a training session, the nation-al skiing federation said yester-day. Schlierenzauer, one of the sport’s most successful athletes with 53 World Cup victories and a four-time Olympic medallist, toppled over as he tried to brake on a training slope in Ramsau am Dachstein on Monday. Hospital checks revealed a tear on the in-side of the right knee and bleed-ing in his thigh, the federation’s doctor Wulf Gloetzer said. — AFP

Chinese star trio fi ned for rare revoltSHANGHAI: Table tennis au-thorities hit world No 1 Ma Long and two other Chinese stars with US$20,000 (RM84,600) fi nes yes-terday but stopped short of sus-pending them after they quit a tournament in protest at their coach’s removal. Th e Internation-al Table Tennis Federation (ITTF) said that Ma, Fan Zhendong and Xu Xin — the three top-ranked players in the world — “damaged the reputation of the ITTF” and “let down the global fans at the China Open”. — AFP

BY I A N R A N S O M

MELBOURNE: Australia’s embat-tled football association has post-poned an emergency general meet-ing (EGM) it had hoped would end a bitter power struggle between clubs and administrators, and stave off the threat of a Fifa takeover of the domestic game.

Football Federation Australia (FFA) chairman Steven Lowy had called the EGM for today, hoping to ram through the association’s preferred model for the congress which elects members to its exec-utive board, despite strident oppo-sition from A-League club owners and players.

However, the FFA said in a state-ment yesterday said it had agreed to push the meeting back to Nov 27 after requests from board members, “to enable further consultation be-tween all stakeholders”.

Th e meeting will now be held only three days before Fifa’s dead-line to establish a more democratic executive.

If no solution is reached by Nov 30, the global body has said it will

Australia FA postpones meeting as Fifa intervention looms

instal a “normalisation committee”, which would eff ectively take over governance of the sport.

A joint Fifa-Asian Football Con-federation delegation came to Aus-tralia in August to try to help end the deadlock but failed to broker an agreement between the war-ring parties.

Th e dispute centres on the mem-bership of the congress, which has representatives of the country’s nine states and territories but cur-rently just one delegate for all 10 clubs in the top-fl ight A-League and none representing the players.

Th e clubs, who say they gener-ate 80% of revenues for football in Australia, want at least fi ve seats but the FFA have off ered them only four, along with one each for the players’ union and a women’s foot-ball representative on an expanded 15-member congress.

Th e postponement of the meet-ing followed a Fairfax Media report yesterday that said Victoria state’s football association had rejected the FFA’s proposed model and de-manded the board call off the EGM. — Reuters

2 5


YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL)

Bursa Malaysia Main Market YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL)

Bursa Malaysia

KLSE COMPOSITE 1,747.92 -0.43 -0.02

KLSE INDUSTRIAL 3,196.77 -19.92 -0.62

CONSUMER PRODUCT 626.88 0.10 0.02

INDUSTRIAL PRODUCT 165.82 -0.54 -0.32

CONSTRUCTION 328.64 -1.58 -0.48

TRADE & SERVICES 230.95 0.54 0.23

KLSE FINANCIAL 16,268.47 -9.33 -0.06

KLSE PROPERTY 1,239.44 -8.84 -0.71

KLSE PLANTATION 7,999.02 -10.61 -0.13

KLSE MINING 603.87 8.10 1.36

INDICES CLOSE +/- %CHGTECHNOLOGY 39.45 0.02 0.05

FTSE BURSA 100 12,233.12 0.16 Unch

FTSE BURSA MID 70 15,474.10 11.91 0.08

FTSE BURSA SMALL CAP 17,433.83 6.77 0.04

FTSE BURSA FLEDGLING 19,606.28 91.15 0.47

FTSE BURSA EMAS 12,597.27 0.49 Unch

FTSE BUR M’SIA ACE 6,940.17 39.26 0.57

FTSE BUR EMAS SHARIAH 13,082.72 16.34 0.13

FTSE BUR HIJRAH SHARIAH 14,273.57 25.14 0.18

FTSE/ASEAN 40 10,724.01 24.68 0.23

INDICES CLOSE +/- %CHG

Sectorial Movement

CONSUMER PRODUCTS 0.725 0.400 0.450 0.430 7120 ACOSTEC 0.450 UNCH 139.5 0.436 — — 80.0 5.130 4.077 — — 7090 AHEALTH 5.120 — — — 16.72 2.25 599.8 24.759 12.174 19.900 19.400 2658 AJI 19.880 UNCH 8.8 19.557 6.63 2.11 1,208.7 0.390 0.220 0.330 0.330 7051 AMTEK 0.330 -0.010 24 0.330 — — 16.5 5.846 4.950 5.020 4.970 6432 APOLLO 4.970 UNCH 41 4.984 25.00 5.03 397.6 1.110 0.800 1.040 1.040 7722 ASIABRN 1.040 UNCH 3.3 1.040 — — 82.3 3.667 3.000 3.100 3.030 7129 ASIAFLE 3.030 UNCH 33.3 3.038 10.42 5.28 590.1 49.279 39.060 40.600 39.060 4162 BAT 39.200 -1.300 662.2 39.543 15.97 5.18 11,192.8 0.120 0.045 0.075 0.065 7243 BIOOSMO 0.075 0.005 6264.4 0.070 — — 59.7 0.740 0.540 0.660 0.640 9288 BONIA 0.660 0.010 849.9 0.654 16.79 1.89 532.1 1.100 0.483 1.030 1.010 7174 CAB 1.010 -0.020 1582.8 1.014 7.21 0.32 625.3 0.527 0.400 — — 7154 CAELY 0.435 — — — 8.38 2.30 34.8 0.340 0.260 0.305 0.300 7128 CAMRES 0.305 0.005 59 0.302 25.42 3.28 60.0 16.000 13.019 16.000 15.860 2836 CARLSBG 15.940 -0.060 42.5 15.918 22.25 4.83 4,873.6 1.180 0.539 1.150 1.110 7035 CCK 1.130 0.010 643.9 1.130 14.00 1.77 356.4 2.355 1.842 2.130 2.120 7148 CCMDBIO 2.120 -0.010 14 2.125 20.70 3.07 591.4 2.607 2.153 — — 2828 CIHLDG 2.250 — — — 13.46 3.56 364.5 0.060 0.020 0.055 0.045 5188 CNOUHUA 0.050 UNCH 2111.9 0.050 — — 33.4 3.200 1.812 2.830 2.800 7205 COCOLND 2.830 0.030 168 2.802 15.63 5.48 647.5 1.960 1.608 1.800 1.790 7202 CSCENIC 1.800 -0.010 151 1.797 17.31 5.56 216.9 0.095 0.030 0.065 0.055 5214 CSL 0.065 0.015 32468.9 0.060 8.23 — 80.8 0.794 0.495 0.515 0.510 9423 CWG 0.510 -0.005 21.8 0.514 2.86 2.94 64.4 0.050 0.025 0.035 0.030 7179 DBE 0.035 0.005 3224.7 0.033 350.00 — 55.7 1.000 0.807 0.955 0.950 7119 DEGEM 0.950 0.060 3.7 0.951 9.08 2.63 127.3 60.520 52.364 60.040 60.000 3026 DLADY 60.040 UNCH 2.7 60.016 26.94 1.67 3,842.6 0.115 0.070 0.090 0.085 7198 DPS 0.090 UNCH 123 0.085 — — 52.9 0.110 0.020 0.095 0.090 7182 EKA 0.090 -0.005 4019.3 0.090 — — 28.1 0.360 0.140 0.275 0.265 9091 EMICO 0.265 -0.010 433.1 0.266 15.77 — 25.4 1.823 1.350 — — 7149 ENGKAH 1.350 — — — 60.54 4.44 95.5 0.270 0.175 0.185 0.180 7208 EURO 0.185 UNCH 50.1 0.180 — — 49.5 0.760 0.630 0.710 0.710 7094 EUROSP 0.710 UNCH 11 0.710 33.02 — 31.5 26.000 21.887 25.300 25.220 3689 F&N 25.300 0.080 544.8 25.287 26.23 2.27 9,279.5 1.070 0.815 — — 2755 FCW 0.880 — — — 266.67 1.70 220.0 0.850 0.520 0.690 0.675 8605 FFHB 0.690 0.015 80.8 0.680 11.60 1.74 75.2 1.550 0.730 1.550 1.500 9172 FPI 1.540 UNCH 1192 1.529 14.05 3.90 380.9 0.980 0.255 0.850 0.835 7184 G3 0.850 0.010 90 0.838 — — 350.6 1.970 0.873 1.970 1.890 5102 GCB 1.950 0.050 1685.6 1.944 19.90 1.15 936.3 2.999 2.334 — — 5606 GOLDIS 2.660 — — — 6.99 0.75 1,626.5 0.135 0.030 0.105 0.095 5187 HBGLOB 0.100 0.005 4252.4 0.100 18.52 — 46.8 19.500 14.730 18.980 18.900 3255 HEIM 18.980 0.100 159.7 18.972 21.07 6.06 5,733.8 10.600 8.914 9.630 9.600 3301 HLIND 9.610 0.010 79.6 9.605 28.69 3.64 3,151.2 1.008 0.836 0.990 0.970 5160 HOMERIZ 0.970 0.020 863 0.976 10.21 2.06 291.0 0.380 0.240 0.365 0.365 7213 HOVID 0.365 UNCH 9220.3 0.365 — — 299.6 1.258 1.094 1.150 1.120 5024 HUPSENG 1.150 UNCH 686.3 1.144 20.00 3.48 920.0 0.630 0.410 — — 8478 HWATAI 0.445 — — — 185.42 — 33.3 4.880 2.107 3.240 3.180 5107 IQGROUP 3.200 -0.070 105.9 3.208 11.42 3.44 281.7 1.610 1.168 1.520 1.510 7152 JAYCORP 1.510 -0.020 105.7 1.513 8.34 6.62 207.2 0.740 0.505 0.555 0.550 8931 JERASIA 0.555 0.025 79.9 0.551 12.28 — 45.5 2.598 1.370 1.640 1.610 5247 KAREX 1.640 0.020 395 1.625 58.78 0.61 1,643.9 3.800 2.960 3.150 3.140 7216 KAWAN 3.140 UNCH 81.5 3.140 31.98 0.60 1,128.9 0.260 0.040 0.170 0.170 8303 KFM 0.170 UNCH 11 0.170 — — 11.6 0.920 0.700 0.750 0.720 6203 KHEESAN 0.740 0.025 138 0.735 19.32 1.35 77.0 2.550 2.020 2.200 2.200 7062 KHIND 2.200 -0.020 1 2.200 23.43 4.55 88.1 2.210 1.025 1.750 1.750 0002 KOTRA 1.750 0.020 5.2 1.750 18.70 2.29 233.6 0.140 0.050 0.075 0.070 5172 KSTAR 0.075 0.005 671.3 0.071 — — 22.0 6.000 4.500 4.640 4.550 7006 LATITUD 4.640 0.060 99.1 4.581 6.53 2.59 451.0 1.090 0.785 1.030 1.010 9385 LAYHONG 1.020 0.010 2296.1 1.014 27.79 0.49 620.9 0.377 0.261 0.320 0.320 8079 LEESK 0.320 UNCH 30 0.320 11.47 3.13 53.7 4.350 2.723 4.150 4.070 7089 LIIHEN 4.140 0.080 531.3 4.132 10.09 3.86 745.2 0.820 0.710 0.725 0.715 7126 LONBISC 0.725 -0.005 67.5 0.719 9.35 — 135.2 1.866 1.196 — — 7085 LTKM 1.350 — — — 21.06 2.22 175.6 7.797 3.886 6.960 6.850 7087 MAGNI 6.960 0.010 58.9 6.943 9.75 1.80 1,132.6 0.045 0.010 0.025 0.025 5189 MAXWELL 0.025 UNCH 160 0.025 — — 10.0 1.266 0.974 — — 5886 MBG 1.050 — — — — 2.86 63.8 2.464 1.266 1.950 1.920 3662 MFLOUR 1.940 -0.010 155.7 1.938 14.51 3.35 1,067.6 0.960 0.770 — — 7935 MILUX 0.820 — — — — — 44.6 5.005 3.770 4.020 4.000 5202 MSM 4.020 0.070 3 4.013 — 3.48 2,826.0 0.035 0.030 — — 5150 MSPORTS 0.035 — — — — — 21.2 1.826 1.184 1.400 1.380 3921 MWE 1.400 0.020 16 1.393 2.39 1.43 324.2 88.800 72.360 88.800 88.000 4707 NESTLE 88.500 0.740 112.8 88.485 33.47 3.05 20,753.3 4.880 3.021 3.400 3.400 7060 NHFATT 3.400 UNCH 10.9 3.400 9.90 3.24 255.5 0.130 0.060 0.070 0.065 7139 NICE 0.070 UNCH 382.4 0.066 — — 23.3 0.315 0.230 0.305 0.290 7215 NIHSIN 0.300 0.005 5256.7 0.298 125.00 — 72.2 0.882 0.730 0.755 0.745 5066 NTPM 0.745 -0.010 242.5 0.750 15.85 3.22 836.8 0.690 0.360 0.555 0.545 7071 OCR 0.550 UNCH 307.5 0.550 35.26 — 160.8 1.778 1.345 1.450 1.430 7107 OFI 1.440 -0.020 41.5 1.444 19.86 2.78 345.6 6.792 6.258 6.570 6.540 4006 ORIENT 6.550 0.010 771.7 6.552 10.07 3.05 4,063.6 4.800 2.208 4.800 4.640 7052 PADINI 4.720 0.060 1013.8 4.718 19.73 2.12 3,105.3 40.300 29.318 39.040 39.000 3719 PANAMY 39.020 0.020 10 39.017 18.49 3.00 2,370.3 0.747 0.485 0.500 0.500 5022 PAOS 0.500 0.010 5 0.500 48.54 3.20 90.6 0.650 0.360 — — 9407 PARAGON 0.410 — — — — — 28.7 0.660 0.310 0.560 0.560 6068 PCCS 0.560 UNCH 4 0.560 — — 33.6 1.030 0.780 0.860 0.840 5231 PELIKAN 0.860 0.010 184.6 0.847 26.14 — 475.8 0.235 0.145 0.205 0.175 4081 PMCORP 0.195 0.020 3589.5 0.193 — — 150.8 0.795 0.441 0.640 0.630 5080 POHKONG 0.635 -0.005 121.9 0.637 8.82 1.57 260.6 2.080 1.480 2.010 2.000 7088 POHUAT 2.010 0.010 138.8 2.007 7.53 3.98 458.7 17.217 15.086 16.800 16.600 4065 PPB 16.780 0.020 393.9 16.779 15.01 1.49 19,892.7 0.720 0.499 — — 7190 PPG 0.630 — — — 20.79 2.19 63.0 1.659 1.120 1.230 1.200 8966 PRLEXUS 1.230 0.030 43.3 1.223 9.32 2.44 221.5 1.156 0.655 1.060 1.050 7134 PWF 1.060 UNCH 59.9 1.053 10.62 3.64 181.1 2.655 1.904 2.100 2.050 7237 PWROOT 2.100 0.040 508.8 2.073 17.50 5.48 693.2 4.030 3.820 3.900 3.850 7084 QL 3.890 -0.010 599.1 3.874 35.99 0.84 6,311.3 0.628 0.367 0.555 0.545 9946 REX 0.545 -0.010 93 0.549 37.59 0.92 134.4 1.890 1.210 1.490 1.460 0183 SALUTE 1.470 -0.020 360.5 1.469 29.52 1.63 570.4 1.069 0.800 0.860 0.840 5252 SASBADI 0.840 -0.010 1475.1 0.847 21.43 1.79 352.0 0.590 0.275 0.470 0.465 5157 SAUDEE 0.470 UNCH 120.1 0.467 522.22 — 56.4 1.430 1.000 1.250 1.200 7180 SERNKOU 1.200 UNCH 418.3 1.200 102.56 — 144.0 0.845 0.580 0.645 0.645 7165 SGB 0.645 -0.005 16 0.645 — — 123.0 1.848 1.350 1.390 1.390 7412 SHH 1.390 0.020 4 1.390 13.23 3.60 69.5 1.070 0.800 0.895 0.880 7246 SIGN 0.890 0.020 1085.7 0.887 10.23 2.81 213.9 0.915 0.323 0.605 0.580 8532 SINOTOP 0.605 0.015 25.3 0.589 42.61 — 238.9 0.865 0.520 0.570 0.540 9776 SMCAP 0.570 0.035 30.9 0.547 — — 34.8 0.385 0.200 0.320 0.315 7943 SNC 0.320 UNCH 3 0.317 — — 21.1 2.548 2.130 2.290 2.240 7103 SPRITZER 2.250 0.020 6.2 2.246 19.07 2.57 410.9 1.440 1.020 1.260 1.210 7186 SWSCAP 1.260 -0.010 25.7 1.244 193.85 0.79 183.8 0.669 0.455 0.460 0.455 7082 SYF 0.455 -0.005 366.7 0.456 8.02 2.20 281.8 0.505 0.280 — — 7211 TAFI 0.420 — — — — — 33.6 1.928 1.620 1.640 1.620 4405 TCHONG 1.620 -0.010 48.7 1.629 — 1.23 1,088.6 0.979 0.475 0.490 0.485 7200 TEKSENG 0.485 -0.005 729 0.485 35.14 4.12 168.8 1.250 0.850 0.950 0.930 7252 TEOSENG 0.950 0.015 17.2 0.941 — 1.58 285.0 1.510 1.300 — — 9369 TGL 1.300 — — — 11.73 3.85 53.0 1.020 0.400 0.845 0.840 7230 TOMEI 0.840 -0.005 4.5 0.841 10.81 — 116.4 0.560 0.385 0.405 0.395 7176 TPC 0.405 0.005 340 0.401 — — 94.7 6.080 4.089 5.330 5.240 4588 UMW 5.240 -0.090 400.4 5.264 — 3.82 6,121.9 2.549 1.907 2.540 2.530 7757 UPA 2.540 0.010 8.4 2.532 3.38 3.15 202.1 1.668 0.677 1.510 1.460 7203 WANGZNG 1.510 0.050 4.9 1.470 17.74 2.65 241.6 0.325 0.080 0.290 0.280 5156 XDL 0.280 UNCH 829.9 0.283 24.78 — 188.7 0.615 0.360 0.605 0.580 7121 XIANLNG 0.605 0.020 1197.3 0.593 — — 48.4 0.125 0.020 — — 5155 XINQUAN 0.055 — — — — — 26.7 2.822 2.120 2.200 2.190 5584 YEELEE 2.190 -0.010 92.3 2.190 11.35 2.05 419.6 1.560 1.034 1.270 1.250 5159 YOCB 1.270 0.010 260 1.269 8.93 3.94 203.2 3.190 1.744 3.060 2.970 7178 YSPSAH 3.050 0.050 357.6 3.034 14.76 2.30 417.1 1.934 1.146 1.810 1.780 5131 ZHULIAN 1.790 0.010 71.8 1.790 13.33 3.35 823.4INDUSTRIAL PRODUCTS 1.420 0.922 1.120 1.100 0012 3A 1.100 -0.020 799 1.114 12.35 1.31 541.2 0.210 0.085 0.135 0.135 7086 ABLEGRP 0.135 -0.005 127.1 0.135 — — 35.6 0.430 0.200 0.395 0.395 7131 ACME 0.395 UNCH 2 0.395 — — 86.3 0.975 0.585 0.670 0.655 7191 ADVENTA 0.655 -0.015 462.1 0.658 192.65 — 100.1 2.376 2.030 2.180 2.030 9148 ADVPKG 2.180 0.040 10.1 2.179 23.44 5.50 44.7 0.220 0.135 0.170 0.165 7146 AEM 0.170 UNCH 241 0.170 566.67 — 50.9 0.500 0.365 0.410 0.410 5198 AFUJIYA 0.410 -0.060 5 0.410 19.43 — 73.8 0.595 0.405 0.450 0.445 2682 AISB 0.445 UNCH 42.7 0.446 31.56 — 64.3 0.913 0.561 0.680 0.675 7609 AJIYA 0.675 UNCH 146 0.676 12.18 2.96 205.6

0.300 0.065 0.220 0.215 9954 AKNIGHT 0.220 0.100 20 0.220 — — 12.8 1.694 0.650 1.200 1.190 2674 ALCOM 1.190 -0.030 120.7 1.195 13.55 17.23 159.9 1.070 0.315 0.680 0.665 4758 ANCOM 0.670 UNCH 888 0.669 8.26 — 146.7 3.860 1.874 3.770 3.690 6556 ANNJOO 3.750 0.040 731.6 3.734 10.96 2.80 2,007.5 0.551 0.095 0.110 0.105 9342 ANZO 0.110 0.005 14129.5 0.105 — — 96.9 1.160 0.825 — — 5568 APB 1.030 — — — 12.09 6.31 116.3 4.090 3.176 3.650 3.650 5015 APM 3.650 UNCH 43.5 3.650 15.55 3.97 735.8 1.240 0.827 1.140 1.110 7214 ARANK 1.110 -0.030 241.8 1.124 8.22 2.70 133.2 1.290 0.671 0.985 0.965 7162 ASTINO 0.975 -0.010 364.5 0.976 7.74 1.03 267.3 1.331 0.543 0.910 0.885 7099 ATTA 0.895 0.005 2365.3 0.894 3.46 8.83 136.8 0.970 0.230 0.255 0.255 7181 ATURMJU 0.255 0.005 8 0.255 — — 15.6 2.550 1.679 — — 8133 BHIC 2.070 — — — 5.46 1.45 514.3 0.570 0.380 0.405 0.385 7005 BIG 0.405 0.020 21.4 0.390 — — 19.5 0.580 0.100 0.520 0.520 7187 BKOON 0.520 UNCH 348.2 0.520 — — 148.1 1.091 0.742 0.860 0.850 0168 BOILERM 0.850 -0.005 153.7 0.856 20.63 1.76 438.6 2.425 1.440 — — 6297 BOXPAK 1.440 — — — — — 172.9 1.558 1.150 1.170 1.160 5100 BPPLAS 1.160 0.010 20.5 1.162 17.93 6.90 217.7 0.316 0.237 0.290 0.285 9938 BRIGHT 0.285 -0.005 554.5 0.288 — — 58.5 0.675 0.275 0.620 0.600 7221 BSLCORP 0.600 -0.010 222.3 0.603 17.96 — 58.8 0.365 0.210 0.275 0.255 7188 BTM 0.260 -0.015 161.2 0.270 49.06 — 33.3 3.726 2.820 2.880 2.850 5105 CANONE 2.850 -0.060 28.9 2.866 6.98 1.40 547.6 0.035 0.005 — — 5229 CAP 0.010 — — — — — 13.6 2.168 1.883 1.940 1.900 7076 CBIP 1.930 0.020 179.3 1.925 8.64 3.11 1,038.8 1.810 0.833 1.550 1.490 2879 CCM 1.550 0.050 2678 1.536 49.68 3.23 779.8 1.750 1.450 — — 8435 CEPCO 1.450 — — — — — 64.9 1.240 1.020 — — 8044 CFM 1.240 — — — — — 50.8 1.896 1.433 1.770 1.720 5007 CHINWEL 1.720 -0.020 122.5 1.749 10.12 3.95 515.2 2.550 1.546 2.470 2.430 5797 CHOOBEE 2.440 0.020 212 2.443 8.93 2.46 268.2 1.150 0.920 — — 8052 CICB 1.000 — — — 28.90 — 50.0 0.075 0.050 0.050 0.050 7018 CME 0.050 UNCH 50 0.050 — — 24.3 4.628 3.476 3.720 3.700 2852 CMSB 3.700 UNCH 1658.3 3.703 16.05 1.70 3,975.2 0.600 0.200 0.515 0.515 7986 CNASIA 0.515 UNCH 20 0.515 0.99 — 23.4 1.507 1.141 1.280 1.270 5071 COASTAL 1.270 -0.010 35.5 1.277 13.71 1.57 675.1 1.150 0.665 0.830 0.805 7195 COMCORP 0.815 -0.015 932.8 0.815 7.82 — 114.1 1.180 0.645 1.060 1.030 2127 COMFORT 1.030 -0.030 3307.5 1.041 16.61 — 575.6 2.156 1.630 1.760 1.720 5094 CSCSTEL 1.730 -0.020 1021.1 1.732 10.40 5.78 657.4 0.829 0.655 — — 7157 CYL 0.700 — — — 50.72 5.71 70.0 0.405 0.280 0.330 0.325 5082 CYMAO 0.325 UNCH 69 0.329 — — 24.4 2.369 1.790 2.260 2.240 8125 DAIBOCI 2.260 0.010 16.5 2.244 32.47 1.90 741.0 1.660 0.345 1.450 1.420 8176 DENKO 1.420 UNCH 219.4 1.428 — — 148.3 0.460 0.220 0.385 0.370 7114 DNONCE 0.370 -0.010 1242.3 0.374 — — 68.0 0.435 0.230 — — 5835 DOLMITE 0.240 — — — — — 68.4 0.435 0.155 0.235 0.210 5265 DOLPHIN 0.225 0.015 5705.2 0.223 — — 54.9 1.330 1.069 1.320 1.290 7169 DOMINAN 1.320 UNCH 75.6 1.306 9.12 4.55 218.1 1.848 0.914 1.750 1.690 1619 DRBHCOM 1.700 -0.040 5412 1.707 — 0.59 3,286.5 1.582 0.537 1.450 1.430 7233 DUFU 1.430 UNCH 358 1.438 7.26 3.85 250.9 0.866 0.640 0.755 0.740 8907 EG 0.755 0.005 863.7 0.747 6.94 — 199.7 1.070 0.825 0.860 0.855 9016 EKSONS 0.860 UNCH 17.2 0.859 — — 141.2 0.870 0.510 0.770 0.755 7217 EMETALL 0.755 -0.015 43.1 0.765 13.96 3.31 129.2 0.885 0.385 0.530 0.505 7773 EPMB 0.530 0.025 25.3 0.520 — — 88.0 0.443 0.330 0.385 0.380 0190 ESAFE 0.380 -0.005 12.4 0.381 11.66 — 91.4 1.076 0.740 0.780 0.765 5101 EVERGRN 0.770 0.005 701.2 0.770 12.56 2.60 651.7 0.863 0.400 0.480 0.460 7249 EWEIN 0.470 0.010 1762.6 0.472 12.11 1.06 141.7 1.500 1.021 1.490 1.450 2984 FACBIND 1.490 UNCH 22 1.463 14.67 2.68 126.9 2.862 2.160 2.830 2.760 7229 FAVCO 2.810 0.020 152.8 2.811 8.22 5.34 622.1 0.800 0.495 0.675 0.650 0149 FIBON 0.675 0.010 400.4 0.668 15.38 1.63 66.2 2.274 1.906 2.180 2.160 3107 FIMACOR 2.160 UNCH 21 2.164 16.04 5.79 529.8 1.870 1.436 1.520 1.510 5197 FLBHD 1.510 UNCH 182.5 1.510 7.61 9.93 155.8 1.500 1.330 1.420 1.400 3611 GBH 1.400 UNCH 77.2 1.415 93.33 — 261.3 2.590 1.520 2.560 2.430 7197 GESHEN 2.540 0.100 1356.7 2.513 10.83 — 203.2 0.085 0.040 0.055 0.050 5220 GLOTEC 0.055 0.005 1260 0.052 — — 296.0 0.695 0.185 0.220 0.220 7192 GOODWAY 0.220 -0.020 42 0.220 — — 24.3 0.135 0.085 0.120 0.115 7096 GPA 0.120 0.005 2326.6 0.115 21.05 — 117.7 0.425 0.255 0.305 0.295 5649 GPHAROS 0.295 -0.010 182 0.300 — — 39.7 0.250 0.175 0.220 0.210 0136 GREENYB 0.215 -0.005 1819.8 0.213 307.14 2.79 71.8 0.145 0.085 0.135 0.130 7077 GSB 0.135 0.005 2085.9 0.130 — — 71.3 1.005 0.755 0.790 0.780 3247 GUH 0.780 UNCH 92.1 0.785 18.10 4.32 216.8 1.180 0.235 0.875 0.865 5151 HALEX 0.870 0.005 189.5 0.868 — — 92.2 7.770 4.468 7.670 7.510 5168 HARTA 7.620 UNCH 763.8 7.603 38.74 1.12 12,580.2 1.390 0.829 1.380 1.380 7105 HCK 1.380 0.010 10 1.380 766.67 — 581.2 8.680 1.990 8.590 8.310 4324 HENGYUAN 8.470 0.110 2137.4 8.511 5.18 — 2,541.0 1.757 1.212 1.690 1.670 5095 HEVEA 1.670 -0.010 214.3 1.679 9.55 4.43 931.8 1.200 0.900 1.000 0.985 3298 HEXZA 0.995 -0.005 231.4 0.993 8.96 5.03 199.4 0.450 0.270 0.425 0.420 5072 HIAPTEK 0.425 0.005 3391.4 0.421 — 0.71 559.2 0.765 0.255 0.730 0.710 5199 HIBISCS 0.710 -0.015 18483.4 0.716 9.18 — 1,096.2 1.253 0.829 — — 7033 HIGHTEC 1.130 — — — 7.08 3.10 45.9 1.020 0.653 0.930 0.900 8443 HIL 0.900 0.030 3.9 0.905 20.13 1.39 301.0 0.405 0.270 — — 5165 HOKHENG 0.350 — — — 24.82 — 28.0 0.350 0.020 0.350 0.300 2739 HUAAN 0.310 0.080 272147 0.317 — — 347.9 3.176 2.130 2.500 2.500 5000 HUMEIND 2.500 UNCH 10.1 2.500 64.10 0.80 1,197.7 0.075 0.045 0.055 0.050 9601 HWGB 0.055 UNCH 2002.6 0.055 — — 54.9 0.890 0.595 — — 9687 IDEAL 0.710 — — — 4.63 — 78.4 2.070 1.670 1.800 1.800 7222 IMASPRO 1.800 -0.020 1 1.800 25.00 1.94 144.0 0.300 0.160 0.180 0.175 7183 IRETEX 0.175 UNCH 67.7 0.177 — — 24.2 0.085 0.050 0.065 0.060 7223 JADI 0.060 0.005 4735.4 0.060 — — 56.5 0.175 0.135 — — 8648 JASKITA 0.155 — — — — 6.45 69.7 1.120 0.892 — — 7043 JMR 1.000 — — — 303.03 3.00 126.8 1.715 0.902 1.400 1.340 7167 JOHOTIN 1.390 0.040 1740.5 1.369 7.36 2.34 403.5 1.460 1.000 1.200 1.160 4383 JTIASA 1.170 UNCH 2005.6 1.178 97.50 0.43 1,139.2 0.310 0.160 0.265 0.255 0054 KARYON 0.265 0.005 982.2 0.260 28.49 1.13 126.1 0.853 0.666 — — 7199 KEINHIN 0.735 — — — 10.59 2.04 72.8 0.500 0.300 — — 6211 KIALIM 0.325 — — — — — 20.1 3.080 2.733 2.960 2.950 3522 KIANJOO 2.950 -0.020 11.3 2.954 11.82 1.36 1,310.3 2.363 1.511 1.700 1.670 5371 KIMHIN 1.700 0.030 27 1.687 8.29 3.53 264.5 0.075 0.025 0.030 0.025 5060 KINSTEL 0.025 UNCH 3594.9 0.025 — — 26.2 1.460 0.800 0.860 0.840 9466 KKB 0.860 0.015 587.1 0.847 — 4.65 221.7 0.410 0.220 0.290 0.280 7164 KNM 0.280 -0.005 5711.6 0.283 — — 603.7 1.129 0.830 0.855 0.855 6971 KOBAY 0.855 0.005 9.8 0.855 16.29 — 87.3 0.355 0.240 0.295 0.280 7017 KOMARK 0.280 -0.015 631.2 0.288 — — 34.9 7.360 5.565 7.220 7.200 7153 KOSSAN 7.220 -0.020 32.3 7.211 27.66 1.52 4,617.0 1.110 0.345 0.850 0.830 7130 KPOWER 0.830 UNCH 34 0.839 — — 60.6 5.098 4.587 4.820 4.790 3476 KSENG 4.790 -0.010 20.8 4.799 16.03 2.09 1,731.5 0.580 0.365 0.450 0.445 5192 KSSC 0.450 -0.005 138 0.449 9.89 3.33 43.2 0.775 0.295 0.555 0.530 8362 KYM 0.550 0.005 77.1 0.532 35.48 — 82.4 8.130 5.060 7.070 6.810 3794 LAFMSIA 6.960 -0.120 358.8 6.864 — 2.87 5,913.9 0.910 0.552 0.760 0.740 9326 LBALUM 0.760 0.010 996.8 0.753 11.48 3.29 188.8 0.608 0.444 0.470 0.465 5092 LCTH 0.465 -0.005 70.3 0.466 13.76 5.38 167.4 6.530 4.140 5.280 5.170 5284 LCTITAN 5.280 0.040 843.4 5.226 8.19 — 12,185.1 0.910 0.422 0.835 0.820 5232 LEONFB 0.830 0.005 606.1 0.829 4.74 1.81 257.3 0.440 0.100 0.295 0.290 8745 LEWEKO 0.290 -0.005 157.4 0.291 — — 93.3 0.080 0.025 0.050 0.045 2887 LIONDIV 0.045 UNCH 24.1 0.047 — — 62.6 1.480 0.355 1.360 1.340 4235 LIONIND 1.350 UNCH 1129.1 1.353 8.75 — 969.2 0.740 0.350 0.640 0.630 9881 LSTEEL 0.630 0.005 567 0.634 8.77 — 80.7 0.160 0.050 0.130 0.125 5068 LUSTER 0.130 0.005 815.5 0.125 — — 256.9 3.890 3.336 3.550 3.550 9199 LYSAGHT 3.550 UNCH 5 3.550 8.99 1.97 147.6 1.403 0.535 1.290 1.270 5098 MASTEEL 1.280 UNCH 633 1.276 12.23 — 397.6 0.841 0.467 0.705 0.700 7029 MASTER 0.705 UNCH 180.3 0.703 10.65 1.42 38.5 1.410 0.973 1.380 1.360 5152 MBL 1.380 UNCH 352.7 1.372 10.01 2.90 127.0 0.870 0.618 — — 7004 MCEHLDG 0.800 — — — 28.47 1.88 35.5 0.635 0.250 0.255 0.255 3778 MELEWAR 0.255 -0.015 3 0.255 — — 57.5 0.789 0.478 0.640 0.640 5223 MENTIGA 0.640 UNCH 10 0.640 492.31 1.56 44.8 2.560 1.129 2.210 2.040 8192 MERCURY 2.080 UNCH 374.2 2.115 6.85 5.77 83.6 1.837 1.596 1.750 1.750 6149 METROD 1.750 UNCH 6 1.750 12.73 3.43 210.0 1.260 0.379 1.190 1.180 5001 MIECO 1.180 -0.020 2154.4 1.181 8.90 3.39 619.5 0.170 0.075 0.145 0.135 7219 MINETEC 0.140 UNCH 4813.1 0.139 — — 102.4 0.660 0.485 0.495 0.495 5576 MINHO 0.495 UNCH 10 0.495 8.29 — 108.8 4.403 3.433 3.600 3.560 5916 MSC 3.560 -0.050 38 3.577 8.62 2.25 356.0 1.766 1.370 1.510 1.490 3883 MUDA 1.490 -0.010 93 1.502 18.63 2.01 454.5 1.170 0.720 0.780 0.755 5087 MYCRON 0.770 0.015 831.4 0.769 6.44 — 218.3 0.240 0.035 0.125 0.125 7002 NAKA 0.125 -0.025 2.8 0.125 — — 6.9 0.265 0.145 0.155 0.155 5025 NWP 0.155 -0.005 225.5 0.155 — — 56.0 1.190 0.535 0.960 0.950 4944 NYLEX 0.955 0.010 276.9 0.955 8.99 2.09 185.6 1.925 1.099 1.740 1.710 7140 OKA 1.710 UNCH 71.6 1.714 9.59 3.22 279.7 1.510 0.865 1.400 1.400 5065 ORNA 1.400 0.010 102.5 1.400 8.87 2.14 105.4 0.085 0.050 — — 7225 PA 0.065 — — — — — 61.5 0.015 0.005 — — 0022 PARLO 0.005 — — — — — 0.5 7.670 6.328 7.500 7.340 5183 PCHEM 7.370 -0.130 5550.9 7.409 14.36 3.26 58,960.0 1.893 1.390 1.420 1.400 5271 PECCA 1.410 UNCH 98.3 1.405 18.05 3.55 265.1 0.730 0.580 0.635 0.630 9997 PENSONI 0.635 0.005 123.5 0.633 11.38 6.30 82.3 7.901 5.000 5.490 5.000 5436 PERSTIM 5.030 -0.670 486.6 5.100 9.06 7.95 499.5 21.430 17.797 18.180 17.980 6033 PETGAS 18.040 -0.060 3249.9 18.100 20.09 3.60 35,696.3 11.820 3.941 11.820 11.440 3042 PETRONM 11.700 0.200 325.3 11.702 8.80 1.88 3,159.0 2.466 1.595 2.110 2.090 7095 PIE 2.090 -0.020 93.2 2.101 16.00 1.15 802.6 3.440 1.418 3.440 3.350 7172 PMBTECH 3.350 0.060 444.3 3.387 23.14 1.19 268.0 4.500 2.516 4.500 4.330 8869 PMETAL 4.430 0.120 8429 4.442 30.30 1.24 16,591.1 0.575 0.450 — — 6637 PNEPCB 0.530 — — — 17.15 — 69.7 0.995 0.270 0.500 0.480 8117 POLY 0.500 -0.010 567.3 0.496 2.52 — 80.0 0.973 0.536 0.785 0.760 8273 PPHB 0.760 -0.010 1268.2 0.771 8.32 — 143.2 0.365 0.250 — — 9458 PREMIER 0.275 — — — 343.75 — 92.7 1.480 0.569 1.350 1.330 9873 PRESTAR 1.340 -0.010 710.6 1.339 5.71 2.99 274.1 1.110 0.635 1.010 0.995 7168 PRG 1.000 UNCH 50 1.000 88.50 0.50 302.0 0.330 0.090 0.260 0.250 7123 PWORTH 0.250 -0.010 9385 0.253 42.37 — 232.7 1.290 0.950 — — 7544 QUALITY 1.030 — — — — — 59.7 0.750 0.510 — — 7498 RALCO 0.660 — — — — — 27.7 5.840 5.310 5.670 5.670 7765 RAPID 5.670 -0.010 46 5.670 776.71 — 606.1 0.745 0.285 0.415 0.405 5256 REACH 0.405 -0.010 3367.2 0.410 9.51 — 444.0 0.655 0.390 0.410 0.410 7232 RESINTC 0.410 UNCH 40 0.410 6.80 2.93 56.3 1.410 0.595 1.360 1.320 9741 ROHAS 1.360 0.050 159.3 1.341 — — 642.8 0.850 0.705 0.750 0.735 7803 RUBEREX 0.735 -0.005 97.1 0.736 8.86 1.70 185.4 5.194 3.858 — — 5134 SAB 4.630 — — — 13.40 1.08 634.0 8.490 4.773 7.300 7.300 9822 SAM 7.300 -0.080 8.5 7.300 21.15 1.41 986.7 0.979 0.826 — — 7811 SAPIND 0.880 — — — 15.04 6.82 64.0 1.256 0.984 1.010 1.010 5170 SCABLE 1.010 UNCH 70 1.010 19.09 2.97 320.2 3.426 2.811 2.880 2.850 7247 SCGM 2.880 0.010 35.8 2.862 21.19 2.08 557.6

* Volume Weighted Average Price # PE is calculated based on latest 12 months reported Earnings Per Share

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

2 6 WEDNESDAY NOVEMBER 1, 2017 • THEEDGE FINANCIAL DAILY



0.740 0.510 0.595 0.555 9237 SCIB 0.560 -0.060 3.6 0.556 15.77 — 45.3 9.850 6.359 8.920 8.850 4731 SCIENTX 8.900 0.010 202.4 8.888 16.25 1.80 4,303.7 0.345 0.250 0.285 0.270 7239 SCNWOLF 0.280 -0.010 330 0.282 — — 24.5 0.525 0.160 0.300 0.300 7366 SCOMIEN 0.300 UNCH 68 0.300 — — 102.6 1.660 0.660 0.890 0.880 7073 SEACERA 0.890 -0.010 1379.1 0.885 48.37 — 308.0 0.230 0.130 0.150 0.150 5145 SEALINK 0.150 0.005 248.4 0.150 — — 75.0 0.765 0.255 — — 5163 SEB 0.570 — — — 9.33 — 45.6 1.410 0.388 1.010 0.980 5181 SIGGAS 1.000 0.015 862.1 0.994 47.39 1.20 187.5 1.040 0.630 — — 7115 SKBSHUT 0.680 — — — 11.99 — 27.2 1.850 1.199 1.780 1.750 7155 SKPRES 1.770 UNCH 2551.4 1.770 17.65 2.34 2,212.8 2.225 1.760 — — 7248 SLP 1.870 — — — 23.11 1.97 592.7 0.700 0.525 — — 7132 SMISCOR 0.585 — — — — — 26.2 2.580 1.021 2.280 2.200 5665 SSTEEL 2.240 0.040 229.4 2.229 10.13 1.34 968.1 0.300 0.065 0.225 0.215 7143 STONE 0.215 0.005 2.8 0.222 — — 19.3 1.550 1.230 1.280 1.260 6904 SUBUR 1.280 0.020 49.1 1.274 — — 267.5 4.256 1.657 — — 7207 SUCCESS 3.450 — — — 8.54 1.45 423.3 2.960 1.764 2.190 2.150 7235 SUPERLN 2.190 0.030 190.2 2.163 16.39 1.26 350.4 2.324 1.690 1.800 1.770 7106 SUPERMX 1.770 -0.030 3451.7 1.779 17.72 3.11 1,203.9 4.153 3.311 3.740 3.690 5012 TAANN 3.690 -0.060 198.4 3.718 10.47 4.07 1,641.5 0.510 0.350 0.380 0.370 4022 TADMAX 0.375 0.005 3612.8 0.376 — — 202.0 0.415 0.235 0.340 0.330 5149 TAS 0.335 0.010 145 0.334 — — 60.3 13.861 11.949 12.980 12.900 4448 TASEK 12.900 0.300 18.2 12.901 106.52 9.30 1,594.7 14.236 13.340 — — 4448P TASEK-PA 13.340 — — — — 5.25 4.5 0.290 0.100 0.165 0.165 5178 TATGIAP 0.165 UNCH 197.7 0.165 — — 25.6 1.480 0.300 1.340 1.290 7097 TAWIN 1.310 0.010 1214.4 1.308 11.53 — 84.2 2.920 1.300 1.360 1.330 7439 TECGUAN 1.330 UNCH 54.5 1.334 — — 53.3 4.803 3.876 4.480 4.410 7034 TGUAN 4.470 0.050 1900.2 4.432 9.34 2.68 593.4 2.140 1.581 1.640 1.640 7374 TIENWAH 1.640 -0.040 2 1.640 6.74 6.10 237.4 0.800 0.550 — — 7854 TIMWELL 0.630 — — — 143.18 — 56.1 1.080 0.945 1.080 1.030 7285 TOMYPAK 1.060 0.030 1399.9 1.056 17.52 3.02 444.7 3.790 1.749 3.640 3.630 5010 TONGHER 3.630 -0.100 1 3.631 10.50 8.26 571.5 6.800 4.512 6.500 6.320 7113 TOPGLOV 6.400 -0.050 1539.8 6.411 24.11 2.27 8,042.5 0.850 0.495 — — 7173 TOYOINK 0.680 — — — — — 72.8 0.230 0.145 0.205 0.200 4359 TURIYA 0.205 0.005 50 0.202 — — 46.9 2.980 1.611 2.930 2.890 7100 UCHITEC 2.920 0.020 760.8 2.903 20.55 4.45 1,300.8 4.930 3.310 4.300 4.220 7133 ULICORP 4.300 0.060 48.8 4.245 21.76 2.79 624.4 1.347 1.130 — — 7227 UMSNGB 1.170 — — — 8.85 2.56 93.6 1.680 0.670 0.940 0.915 4995 VERSATL 0.935 0.020 4122.9 0.930 118.35 — 109.7 3.160 1.321 3.090 3.060 6963 VS 3.080 -0.010 2841.3 3.080 23.30 1.59 3,826.4 1.030 0.750 0.945 0.940 5142 WASEONG 0.940 -0.005 131.7 0.943 — 0.53 728.4 0.485 0.345 — — 7226 WATTA 0.360 — — — — — 30.4 2.210 1.566 1.970 1.930 7111 WEIDA 1.950 UNCH 151 1.949 18.84 1.54 260.0 1.537 1.139 1.390 1.390 7231 WELLCAL 1.390 0.020 15.4 1.390 20.14 4.42 692.1 0.525 0.300 0.315 0.310 6378 WMG 0.310 -0.005 329.2 0.310 — — 132.1 1.400 0.600 1.390 1.330 7050 WONG 1.360 UNCH 299.2 1.366 35.88 — 124.7 0.700 0.515 — — 7025 WOODLAN 0.620 — — — 17.22 — 24.8 2.084 1.836 1.960 1.960 5009 WTHORSE 1.960 UNCH 2 1.960 20.72 5.10 470.4 1.096 0.745 0.815 0.805 4243 WTK 0.810 -0.005 591.2 0.810 — 2.47 389.9 1.380 0.992 1.110 1.100 7245 WZSATU 1.110 UNCH 179.8 1.102 12.70 1.80 387.3 0.850 0.720 0.800 0.775 5048 YILAI 0.800 0.015 614.1 0.789 4000 — 128.0 0.345 0.180 0.195 0.180 7020 YKGI 0.185 -0.010 1350.7 0.183 — — 64.4 0.700 0.380 0.450 0.440 7014 YLI 0.450 0.015 17.9 0.440 11.36 1.11 46.3 0.700 0.380 0.450 0.440 7014 YLI 0.450 -0.010 40 0.446 11.36 1.11 46.3CONSTRUCTION 1.190 0.728 1.150 1.130 5281 ADVCON 1.140 0.010 824.9 1.137 15.99 — 458.4 0.750 0.280 — — 7007 ARK 0.410 — — — — — 20.0 1.200 0.589 1.160 1.140 7078 AZRB 1.150 UNCH 718.2 1.150 14.80 1.30 611.3 0.793 0.581 0.620 0.610 6173 BDB 0.610 -0.010 35.6 0.610 7.16 7.38 185.4 0.625 0.351 0.440 0.415 5190 BENALEC 0.430 0.010 4156.2 0.434 30.50 0.93 349.1 0.495 0.325 0.385 0.375 5932 BPURI 0.380 -0.005 1442.3 0.380 108.57 — 101.5 1.120 0.777 1.090 1.000 8761 BREM 1.090 0.040 71.5 1.051 52.91 1.38 376.6 1.220 0.849 1.050 1.020 8591 CRESBLD 1.040 -0.010 458.2 1.033 8.64 3.85 184.0 2.086 1.437 1.820 1.820 7528 DKLS 1.820 0.020 2 1.820 3.48 1.65 168.7 3.210 1.749 3.160 3.100 5253 ECONBHD 3.110 -0.040 323.1 3.130 20.61 1.45 1,663.9 1.520 0.985 — — 8877 EKOVEST 1.160 — — — 22.39 1.72 2,481.5 1.010 0.526 0.910 0.900 7047 FAJAR 0.905 0.005 1487.8 0.906 8.45 2.76 333.8 1.370 0.885 1.270 1.240 9261 GADANG 1.260 -0.010 633.7 1.254 7.12 2.38 829.4 5.459 4.541 5.290 5.220 5398 GAMUDA 5.250 -0.010 7356.2 5.256 21.17 2.29 12,889.0 1.960 0.815 1.960 1.900 5226 GBGAQRS 1.960 0.060 2516.5 1.944 21.28 — 854.1 0.920 0.660 0.710 0.705 5169 HOHUP 0.710 UNCH 316.9 0.710 5.17 — 266.2 1.736 1.430 1.540 1.530 6238 HSL 1.540 UNCH 210.2 1.540 17.32 1.56 897.3 3.557 2.998 3.240 3.140 3336 IJM 3.190 -0.040 4503 3.183 17.32 2.35 11,574.7 0.740 0.561 0.600 0.600 5268 IKHMAS 0.600 0.005 4 0.600 115.38 0.83 318.2 0.395 0.275 0.385 0.360 0192 INTA 0.375 0.005 8496.8 0.375 0.46 — 200.7 0.705 0.550 0.600 0.600 8834 IREKA 0.600 -0.005 25 0.600 — 3.33 102.5 1.790 0.985 1.480 1.410 4723 JAKS 1.480 0.070 4064.2 1.460 — — 728.4 0.500 0.240 0.285 0.280 9083 JETSON 0.280 -0.005 101.6 0.282 — — 57.9 3.920 1.996 3.920 3.900 7161 KERJAYA 3.920 0.010 68.2 3.905 17.70 1.40 2,207.8 2.380 1.890 2.320 2.300 5171 KIMLUN 2.310 0.010 79.1 2.304 10.15 2.81 738.4 1.500 1.390 — — 9628 LEBTECH 1.500 — — — 58.59 — 204.7 1.113 0.780 0.810 0.780 5129 MELATI 0.800 -0.015 84.9 0.796 6.51 2.19 96.0 0.575 0.270 0.360 0.350 5006 MERGE 0.360 0.020 26 0.360 257.14 — 24.1 1.407 0.900 0.945 0.940 9571 MITRA 0.940 UNCH 299.9 0.943 5.61 5.32 648.1 1.480 0.780 1.470 1.430 7595 MLGLOBAL 1.470 0.010 228.4 1.449 26.44 — 580.1 0.425 0.285 0.295 0.295 5924 MTDACPI 0.295 -0.005 51 0.295 — — 68.3 1.670 0.725 1.240 1.200 5085 MUDAJYA 1.200 -0.040 143.1 1.219 — — 726.5 2.980 2.046 2.900 2.850 5703 MUHIBAH 2.850 -0.040 1196.6 2.889 11.22 1.93 1,374.0 0.724 0.419 0.565 0.555 8311 PESONA 0.560 UNCH 216.6 0.561 18.18 3.57 389.1 2.490 1.132 2.170 2.120 7055 PLB 2.170 -0.010 8.6 2.160 63.64 0.46 198.1 1.254 0.924 1.150 1.130 5070 PRTASCO 1.140 -0.010 854.8 1.143 18.66 5.26 484.1 0.215 0.095 0.160 0.155 7145 PSIPTEK 0.155 -0.005 1613.4 0.156 15.82 — 54.0 4.270 3.201 3.980 3.980 9598 PTARAS 3.980 UNCH 20.6 3.980 17.93 5.03 657.1 1.390 0.490 0.995 0.945 5205 SENDAI 0.975 0.025 7117.6 0.974 — 0.51 759.1 2.430 1.513 2.330 2.300 5263 SUNCON 2.300 -0.030 978.2 2.304 22.09 2.39 2,973.7 0.415 0.255 0.285 0.280 9717 SYCAL 0.280 0.005 133.6 0.280 16.77 — 89.7 0.860 0.364 0.790 0.770 5054 TRC 0.775 -0.020 231.1 0.778 9.63 2.45 372.4 2.320 1.500 2.210 2.140 5622 TRIPLC 2.180 0.040 677.7 2.177 14.20 — 149.9 0.825 0.430 0.530 0.525 5042 TSRCAP 0.525 -0.005 53.1 0.525 8.65 — 91.6 0.170 0.110 0.170 0.160 7070 VIZIONE 0.165 UNCH 45222.2 0.166 126.92 — 583.9 1.680 0.890 1.270 1.230 3565 WCEHB 1.240 -0.020 240.6 1.244 32.46 — 1,243.4 2.467 1.490 1.720 1.650 9679 WCT 1.660 -0.040 2987.9 1.674 26.10 1.80 2,349.6 0.670 0.535 0.660 0.645 7028 ZECON 0.660 0.005 449.9 0.649 5.61 — 86.5 0.185 0.100 0.135 0.130 2283 ZELAN 0.130 UNCH 275.5 0.131 — — 109.8TRADING SERVICES 0.550 0.350 0.380 0.375 5238 AAX 0.375 UNCH 3024.2 0.376 18.29 — 1,555.6 0.290 0.135 0.225 0.200 5166 AEGB 0.210 0.010 18580.7 0.214 — — 86.1 2.822 1.950 2.070 2.030 6599 AEON 2.070 0.040 219.6 2.043 36.38 1.45 2,906.3 0.435 0.160 0.310 0.305 7315 AHB 0.310 UNCH 328.3 0.308 10.62 — 54.6 3.530 2.014 3.380 3.190 5099 AIRASIA 3.340 0.160 16325.6 3.311 6.34 5.39 11,162.2 9.336 5.838 8.520 8.280 5014 AIRPORT 8.280 -0.170 2315.8 8.459 119.48 1.33 13,738.1 0.370 0.110 0.215 0.205 5115 ALAM 0.210 -0.005 4154.7 0.213 — — 194.1 0.270 0.070 0.090 0.090 0159 AMEDIA 0.090 0.005 310.3 0.090 — — 21.6 8.020 7.002 7.180 7.170 6351 AMWAY 7.170 -0.010 22.2 7.171 21.57 2.79 1,178.6 2.340 2.133 2.280 2.280 7083 ANALABS 2.280 0.070 10 2.280 11.86 1.43 136.9 0.085 0.015 0.035 0.030 5194 APFT 0.030 UNCH 7236.8 0.030 — — 37.2 0.825 0.500 0.730 0.720 5210 ARMADA 0.730 0.005 12131.6 0.727 — 1.12 4,282.4 0.220 0.100 0.155 0.150 1481 ASB 0.155 0.005 805.5 0.150 36.90 1.61 105.1 2.940 2.439 2.840 2.810 6399 ASTRO 2.810 -0.010 1761.3 2.818 19.80 4.09 14,651.0 4.780 3.954 — — 7048 ATLAN 4.290 — — — 21.64 2.56 1,088.2 0.365 0.305 — — 8885 AVI 0.340 — — — — — 291.9 1.180 0.739 1.020 1.010 7579 AWC 1.010 -0.010 33 1.014 12.21 1.98 270.3 5.400 4.047 5.400 5.340 6888 AXIATA 5.390 0.050 16739.8 5.380 81.17 1.48 48,501.2 0.653 0.272 0.490 0.490 5021 AYS 0.490 UNCH 355 0.490 8.05 5.10 186.4 0.740 0.410 0.430 0.420 7251 BARAKAH 0.430 -0.005 1806.6 0.424 — — 355.0 2.179 1.823 2.080 2.040 5248 BAUTO 2.040 -0.030 1313.1 2.056 24.23 4.98 2,355.6 0.495 0.365 0.405 0.405 7241 BHS 0.405 UNCH 173 0.405 — — 185.6 0.280 0.160 0.215 0.195 6998 BINTAI 0.205 0.005 7779.2 0.205 — — 59.4 6.330 5.750 — — 5032 BIPORT 5.930 — — — 17.70 3.71 2,727.8 2.760 1.577 2.430 2.410 5275 BISON 2.420 0.010 347.1 2.420 34.33 0.83 825.4 0.410 0.306 0.335 0.330 3395 BJCORP 0.335 0.005 9204.8 0.332 10.50 — 1,649.4 1.943 1.371 1.500 1.490 5196 BJFOOD 1.490 -0.010 16.3 1.496 47.45 — 568.2 0.700 0.380 0.380 0.380 4219 BJLAND 0.380 UNCH 37.5 0.380 5.68 — 1,900.1 0.470 0.205 0.240 0.220 6025 BJMEDIA 0.240 0.020 11.3 0.238 — — 56.4 3.044 2.213 2.420 2.380 1562 BJTOTO 2.410 -0.020 866.9 2.393 12.85 5.81 3,256.0 0.135 0.090 0.095 0.090 7036 BORNOIL 0.095 0.005 47039 0.095 10.11 — 452.0 0.875 0.505 0.540 0.540 9474 BRAHIMS 0.540 0.005 10 0.540 — — 127.6 3.070 2.482 3.070 3.020 2771 BSTEAD 3.020 -0.030 434.5 3.043 25.15 4.64 6,121.5 0.620 0.280 0.490 0.470 5257 CARIMIN 0.480 -0.010 2059.5 0.478 — — 112.3 2.000 1.278 1.850 1.820 5245 CARING 1.820 -0.030 12 1.825 25.31 1.65 396.2 3.289 2.130 2.250 2.220 2925 CCB 2.230 -0.010 16.2 2.232 11.71 2.24 224.7 1.440 0.835 1.180 1.160 7117 CENTURY 1.170 -0.010 526 1.172 24.89 2.56 459.5 0.550 0.385 — — 7209 CHEETAH 0.535 — — — 35.20 1.12 68.3 1.468 0.819 1.310 1.300 5273 CHINHIN 1.310 0.010 341 1.307 15.96 3.05 728.9 0.675 0.417 0.510 0.510 7016 CHUAN 0.510 UNCH 65 0.510 11.46 3.53 86.0 0.110 0.065 0.085 0.080 5104 CNI 0.080 -0.005 305.6 0.082 — — 57.6 1.240 0.650 0.730 0.710 5136 COMPLET 0.730 0.020 2.9 0.712 12.17 — 90.3 0.040 0.020 0.030 0.025 5037 COMPUGT 0.030 UNCH 1660.5 0.026 — — 70.4 2.820 1.995 2.650 2.600 5184 CYPARK 2.650 0.010 104.2 2.626 13.30 1.96 691.6 0.865 0.482 0.510 0.505 5276 DANCO 0.510 0.005 294.3 0.509 12.69 2.94 152.0 0.105 0.050 0.085 0.080 0091 DAYA 0.080 -0.010 13085.4 0.081 — — 152.8 1.290 0.730 0.880 0.865 5141 DAYANG 0.865 -0.015 694.5 0.872 — — 834.6 1.076 0.746 0.980 0.965 5132 DELEUM 0.965 -0.015 127 0.977 18.17 3.37 386.2 0.875 0.465 0.490 0.480 7212 DESTINI 0.485 UNCH 1992.7 0.484 16.67 — 560.3 2.300 1.456 2.270 2.250 7277 DIALOG 2.260 UNCH 13308 2.260 32.90 1.17 12,750.1 6.252 4.312 4.680 4.660 5908 DKSH 4.680 -0.170 1.1 4.662 16.34 2.03 737.8 0.683 0.219 0.505 0.475 4456 DNEX 0.485 0.010 91669.2 0.492 12.31 1.03 850.9 1.433 1.031 1.250 1.200 5216 DSONIC 1.230 0.030 1400 1.234 29.15 3.25 1,660.5 0.295 0.155 0.180 0.175 2097 EASTLND 0.180 0.005 224.5 0.175 — — 44.2 0.765 0.350 0.490 0.480 5259 EATECH 0.485 -0.005 467.5 0.485 — 4.64 244.4 0.825 0.200 0.695 0.635 5036 EDARAN 0.670 0.010 1293.3 0.674 — — 40.2 0.290 0.165 0.185 0.185 7471 EDEN 0.185 UNCH 624 0.185 — — 57.6 3.266 2.213 2.680 2.630 1368 EDGENTA 2.640 0.020 183.3 2.641 17.96 3.03 2,195.5 0.590 0.220 0.480 0.460 0064 EFFICEN 0.470 UNCH 10365.8 0.471 — — 333.3 0.976 0.758 — — 5081 EIG 0.805 — — — 16.91 3.73 190.9

2.087 1.090 1.810 1.770 5208 EITA 1.810 -0.010 24.7 1.787 12.03 2.21 235.3 1.508 1.090 1.190 1.170 5056 ENGTEX 1.170 -0.020 754.5 1.175 6.72 0.85 494.4 0.605 0.370 0.525 0.515 6939 FIAMMA 0.515 -0.010 35.4 0.520 10.40 2.91 273.0 0.440 0.355 0.410 0.400 9318 FITTERS 0.405 -0.005 978.1 0.408 — — 194.6 1.423 1.050 1.260 1.240 7210 FREIGHT 1.250 UNCH 5.1 1.251 10.71 4.00 232.7 0.445 0.133 0.440 0.420 0128 FRONTKN 0.425 UNCH 12884.9 0.429 16.35 1.18 447.7 0.295 0.150 — — 9377 FSBM 0.235 — — — — — 33.2 3.054 2.352 2.800 2.770 5209 GASMSIA 2.770 -0.030 28.7 2.790 21.18 4.64 3,556.7 0.820 0.610 0.675 0.660 0078 GDEX 0.665 UNCH 3005.1 0.667 99.25 0.38 3,708.2 6.259 4.331 5.140 5.030 4715 GENM 5.030 -0.080 18004.3 5.076 10.31 2.03 29,868.4 9.960 7.382 9.170 9.020 3182 GENTING 9.050 -0.110 11176.4 9.070 12.17 1.27 34,858.5 0.330 0.185 — — 5079 GETS 0.215 — — — — — 27.1 3.320 2.704 3.270 3.200 3204 GKENT 3.240 -0.010 666 3.233 16.68 2.21 1,825.0 0.555 0.300 0.420 0.395 7676 GUNUNG 0.420 0.025 133.5 0.410 — — 99.2 5.600 2.184 5.450 5.290 7668 HAIO 5.450 0.110 478 5.346 23.35 2.63 1,635.4 0.335 0.200 — — 7253 HANDAL 0.235 — — — — — 37.6 9.380 7.307 9.310 9.170 3034 HAPSENG 9.280 -0.030 550.4 9.252 21.84 3.77 23,104.2 0.895 0.660 0.710 0.700 2062 HARBOUR 0.710 0.015 412.1 0.701 10.60 2.11 284.3 4.120 3.013 4.120 4.100 5008 HARISON 4.120 0.020 39.4 4.117 12.78 6.07 282.2 1.210 0.386 1.180 1.160 0185 HSSEB 1.180 0.010 920.7 1.178 24.79 0.53 376.5 0.195 0.050 0.185 0.180 7013 HUBLINE 0.180 UNCH 54794.8 0.183 75.00 — 308.5 0.480 0.210 0.295 0.280 5255 ICON 0.280 -0.010 1600.3 0.287 — — 329.6 6.567 5.512 5.690 5.610 5225 IHH 5.640 -0.010 5222 5.645 50.63 0.53 46,468.6 0.920 0.675 0.700 0.690 5614 ILB 0.700 UNCH 3.1 0.697 — — 136.5 0.900 0.670 — — 5673 IPMUDA 0.750 — — — — 4.00 54.4 2.166 1.385 1.800 1.800 0058 JCBNEXT 1.800 UNCH 7 1.800 31.75 1.11 252.0 0.310 0.235 0.270 0.260 8923 JIANKUN 0.270 0.005 201.3 0.266 — — 45.0 0.395 0.295 0.355 0.355 8672 KAMDAR 0.355 UNCH 20 0.355 — — 70.3 1.862 1.606 1.690 1.680 6491 KFIMA 1.680 -0.020 12.9 1.685 18.30 5.36 474.1 0.739 0.236 0.715 0.665 0151 KGB 0.665 -0.030 4373.9 0.688 13.35 1.50 152.8 1.680 1.000 — — 5035 KNUSFOR 1.010 — — — — — 100.6 1.140 0.944 1.040 1.010 5878 KPJ 1.020 -0.030 3406.4 1.022 29.14 1.72 4,366.2 1.678 1.022 1.430 1.410 5843 KPS 1.420 -0.010 104.5 1.419 1183. 4.40 708.6 0.570 0.485 0.535 0.535 9121 KPSCB 0.535 UNCH 14 0.535 11.56 — 79.1 0.225 0.115 0.160 0.150 4847 KTB 0.160 0.005 240.7 0.154 — — 64.4 0.628 0.299 0.490 0.475 6874 KUB 0.475 UNCH 1219.3 0.482 9.37 2.11 264.3 0.380 0.230 — — 7170 LFECORP 0.255 — — — — — 47.4 0.825 0.420 0.730 0.710 8486 LIONFIB 0.730 0.015 52.8 0.715 11.28 — 169.0 0.890 0.449 0.800 0.790 5143 LUXCHEM 0.795 0.005 1674.3 0.793 14.70 2.93 671.7 2.222 1.643 1.770 1.750 3859 MAGNUM 1.750 -0.010 1098.4 1.759 13.14 6.86 2,516.1 1.488 0.968 1.030 1.000 5264 MALAKOF 1.030 0.030 3199.1 1.020 14.95 5.83 5,150.0 0.179 0.135 0.150 0.145 3514 MARCO 0.145 UNCH 2641.3 0.150 8.73 3.45 152.9 6.493 5.368 5.960 5.930 6012 MAXIS 5.950 0.030 4107.7 5.949 21.17 3.36 46,472.6 0.955 0.670 0.890 0.870 5077 MAYBULK 0.885 0.005 637.3 0.880 — — 885.0 2.576 2.010 2.070 2.060 5983 MBMR 2.060 -0.010 10.1 2.070 12.49 2.18 805.2 1.247 0.655 0.845 0.830 4502 MEDIA 0.835 -0.015 3486.3 0.837 — 9.58 926.2 0.668 0.420 0.430 0.425 5090 MEDIAC 0.430 0.005 811.9 0.430 1.89 7.14 725.5 1.370 0.550 1.190 1.150 7234 MESB 1.160 -0.020 1050.8 1.170 — — 63.3 3.978 2.101 3.580 3.510 3069 MFCB 3.510 -0.050 119.9 3.538 8.78 1.42 1,441.8 1.160 0.625 0.830 0.750 5186 MHB 0.820 0.065 4739.9 0.814 — — 1,312.0 7.752 6.720 7.050 6.910 3816 MISC 6.950 -0.060 2000.9 6.943 16.36 2.01 31,023.4 2.606 1.770 2.000 1.820 2194 MMCCORP 1.990 0.150 3222.1 1.937 12.31 2.01 6,059.7 0.430 0.205 0.430 0.395 0059 MMODE 0.415 0.005 4171.9 0.414 — — 67.5 0.100 0.045 0.055 0.050 0043 MTRONIC 0.050 UNCH 10959.4 0.055 — — 47.5 0.280 0.115 0.240 0.175 3891 MUIIND 0.225 0.045 67172.1 0.217 — — 659.8 3.050 2.000 2.510 2.500 3905 MULPHA 2.500 UNCH 77.8 2.502 5.09 — 799.0 2.370 1.950 2.210 2.160 0138 MYEG 2.190 -0.020 15488.5 2.183 39.32 0.63 7,897.8 0.910 0.680 — — 9806 NATWIDE 0.705 — — — — — 84.8 0.140 0.055 0.080 0.075 4464 NICORP 0.080 UNCH 613.4 0.076 6.72 — 70.1 0.828 0.631 — — 5533 OCB 0.710 — — — 14.09 1.41 73.0 0.985 0.750 0.890 0.885 0172 OCK 0.890 -0.010 34.8 0.889 27.30 0.67 775.6 3.407 1.763 2.570 2.550 5201 OLDTOWN 2.570 0.010 482 2.566 18.34 2.72 1,190.5 0.210 0.070 0.140 0.130 3018 OLYMPIA 0.140 0.005 10560.7 0.135 5.22 — 143.3 2.530 1.120 1.240 1.220 5260 OWG 1.220 UNCH 214.6 1.226 49.19 — 314.2 0.498 0.380 0.435 0.420 8419 PANSAR 0.425 0.010 353.6 0.430 25.15 2.35 119.0 0.740 0.425 0.695 0.675 5125 PANTECH 0.690 0.010 3000.8 0.686 12.08 2.61 513.0 0.760 0.510 0.655 0.640 5657 PARKSON 0.650 0.005 285.2 0.649 — — 711.0 1.310 1.085 1.250 1.240 5041 PBA 1.240 0.010 71.1 1.240 6.50 3.23 410.8 0.085 0.040 0.055 0.050 6254 PDZ 0.055 0.005 3400.1 0.050 28.95 — 47.8 1.250 0.876 1.050 1.030 5133 PENERGY 1.050 UNCH 75.9 1.035 — 1.90 337.8 1.550 1.540 — — 7108 PERDANA 1.540 — — — — — 1,198.8 0.100 0.035 0.045 0.040 0047 PERISAI 0.040 UNCH 5240.4 0.044 — — 50.4 0.420 0.115 0.310 0.295 7080 PERMAJU 0.295 -0.005 5783 0.301 — — 57.8 1.770 1.510 1.660 1.630 5219 PESTECH 1.660 0.040 2230.3 1.650 13.01 — 1,268.7 25.100 22.389 24.260 23.960 5681 PETDAG 23.960 -0.140 326 24.145 23.70 3.01 23,803.2 0.250 0.030 — — 7027 PETONE 0.055 — — — 1.61 — 2.8 5.524 4.060 4.060 4.060 7081 PHARMA 4.060 -0.010 2 4.060 25.88 3.69 1,054.9 0.189 0.118 0.135 0.135 7201 PICORP 0.135 UNCH 85 0.135 — 4.52 88.8 0.420 0.230 — — 7163 PJBUMI 0.300 — — — — — 24.6 5.665 3.685 5.500 5.450 4634 POS 5.490 0.020 306.3 5.472 46.53 1.95 4,297.4 2.516 1.601 1.720 1.710 5204 PRESBHD 1.710 -0.010 399.3 1.716 74.35 1.90 827.6 2.180 1.410 1.650 1.520 8346 PRKCORP 1.540 0.020 21.5 1.529 — — 154.0 0.350 0.123 0.320 0.305 0186 PTRANS 0.320 0.010 10180 0.315 12.96 2.28 402.3 0.883 0.790 0.800 0.795 5272 RANHILL 0.795 UNCH 37.3 0.798 11.17 9.81 706.2 0.360 0.205 0.315 0.310 0037 RGB 0.310 -0.005 9600.8 0.310 15.27 1.94 415.5 0.687 0.390 0.425 0.420 8567 SALCON 0.425 UNCH 1397.6 0.422 — — 288.0 1.134 0.762 1.030 1.000 5147 SAMCHEM 1.000 UNCH 1148.6 1.013 17.04 3.50 272.0 0.315 0.115 0.240 0.235 9113 SANBUMI 0.235 -0.005 791.2 0.238 — — 53.2 2.364 1.700 1.910 1.890 0099 SCICOM 1.890 UNCH 745.4 1.899 14.56 4.76 671.8 0.215 0.090 0.170 0.160 7158 SCOMI 0.165 -0.005 1221.8 0.163 — — 316.4 0.270 0.090 0.155 0.140 7045 SCOMIES 0.150 UNCH 710.2 0.147 — — 351.3 1.160 0.950 — — 7053 SEEHUP 1.050 — — — — 6.86 54.9 0.769 0.645 0.665 0.650 9792 SEG 0.665 0.005 276.3 0.658 26.08 5.26 840.7 1.750 1.120 1.560 1.500 5250 SEM 1.560 0.050 474.6 1.515 44.83 1.47 1,924.1 2.100 1.324 1.610 1.550 5218 SENERGY 1.600 0.020 10951.3 1.587 222.22 0.63 9,587.4 2.760 1.475 2.670 2.600 5279 SERBADK 2.630 0.010 3964.2 2.621 10.25 — 3,511.1 9.700 7.735 9.270 9.070 4197 SIME 9.200 -0.070 6531.6 9.175 33.53 2.50 62,567.7 0.734 0.600 — — 9431 SJC 0.620 — — — 33.16 1.61 25.1 1.380 0.980 1.010 0.995 5242 SOLID 0.995 -0.015 84.4 1.000 36.18 0.80 166.6 2.151 1.630 1.740 1.690 6084 STAR 1.690 -0.010 812.1 1.702 30.12 8.88 1,248.2 3.090 2.280 — — 9865 SUIWAH 2.650 — — — 13.90 0.38 161.7 0.100 0.045 0.055 0.050 1201 SUMATEC 0.050 UNCH 23622.8 0.050 — — 202.9 1.918 1.196 1.730 1.690 5211 SUNWAY 1.730 0.030 3516.4 1.711 13.10 2.72 8,508.4 2.257 1.865 2.010 1.980 6521 SURIA 2.010 -0.080 27.5 1.998 9.46 3.48 579.2 0.345 0.230 0.245 0.240 5173 SYSCORP 0.245 UNCH 70 0.241 51.04 — 294.0 0.490 0.285 0.405 0.405 7228 T7GLOBAL 0.405 UNCH 211.2 0.405 21.54 — 154.5 1.722 1.230 1.260 1.250 8524 TALIWRK 1.250 -0.010 606.8 1.251 23.58 6.40 1,511.9 2.667 1.467 2.380 2.350 5140 TASCO 2.350 UNCH 115 2.357 14.83 1.91 470.0 15.460 12.832 15.000 14.740 5347 TENAGA 15.000 0.200 14304.6 14.928 12.29 2.60 84,885.2 1.550 0.990 1.030 1.000 8702 TEXCHEM 1.000 -0.010 57.9 1.007 54.05 20.00 124.1 0.180 0.045 0.120 0.105 7206 THHEAVY 0.115 -0.005 12944.2 0.112 — — 128.9 6.586 5.601 6.350 6.100 4863 TM 6.350 0.240 9945.4 6.222 31.73 3.40 23,862.9 0.990 0.730 0.865 0.850 0101 TMCLIFE 0.855 -0.005 1129.7 0.858 57.00 0.14 1,484.5 1.806 1.459 1.520 1.490 8397 TNLOGIS 1.490 -0.030 261.8 1.503 9.19 1.34 685.5 1.060 0.410 — — 7218 TOCEAN 0.570 — — — 44.88 — 23.4 1.000 0.735 0.825 0.825 5167 TURBO 0.825 -0.010 1 0.825 29.26 6.06 89.1 2.892 2.400 — — 7137 UMS 2.650 — — — 16.79 2.26 107.8 0.915 0.270 0.335 0.320 5243 UMWOG 0.320 UNCH 30911 0.326 — — 2,239.6 1.294 1.010 1.050 1.030 7091 UNIMECH 1.050 0.010 53 1.039 16.30 2.86 137.8 0.730 0.365 0.385 0.380 5754 UTUSAN 0.385 0.005 12 0.381 — — 42.6 1.980 1.280 1.450 1.440 7250 UZMA 1.450 UNCH 101.9 1.446 14.40 — 464.0 1.240 0.600 1.180 1.150 7240 VOIR 1.180 0.010 735.1 1.156 — — 171.3 2.140 1.655 — — 5016 WARISAN 1.990 — — — — 1.51 133.7 0.600 0.420 — — 7692 WIDETEC 0.590 — — — 35.76 — 26.4 4.291 3.542 3.720 3.680 5246 WPRTS 3.710 -0.010 1363.7 3.705 21.24 3.52 12,651.1 1.448 1.020 1.210 1.170 5267 XINHWA 1.200 0.040 3174.6 1.183 25.26 0.83 259.2 0.075 0.020 0.030 0.030 7122 YFG 0.030 UNCH 730 0.030 — — 18.3 4.030 2.794 4.030 3.950 7293 YINSON 3.960 -0.040 375.1 3.978 16.75 1.01 4,327.5 1.517 1.260 1.300 1.260 4677 YTL 1.270 -0.020 8860.1 1.274 16.87 3.94 13,856.4FINANCE 4.400 3.446 3.750 3.690 2488 ABMB 3.690 -0.050 604.4 3.721 10.95 4.34 5,712.5 14.000 11.782 14.000 13.900 5139 AEONCR 13.900 -0.080 213.8 13.942 69.15 3.08 3,436.8 2.949 2.086 2.580 2.560 5185 AFFIN 2.560 -0.030 112.8 2.565 8.58 2.93 4,973.9 15.600 9.492 — — 1163 ALLIANZ 14.160 — — — 8.25 0.64 2,471.8 15.100 9.511 — — 1163PA ALLIANZ-PA 14.000 — — — — 0.77 1,215.1 5.551 3.754 4.350 4.280 1015 AMBANK 4.280 -0.070 2248.6 4.304 9.67 4.11 12,900.7 1.950 1.263 1.700 1.700 5088 APEX 1.700 UNCH 3 1.700 23.19 2.94 363.1 4.610 3.996 4.390 4.380 5258 BIMB 4.390 0.010 379.7 4.390 12.46 2.96 7,189.7 10.760 7.782 10.000 9.900 1818 BURSA 9.990 -0.010 542.4 9.988 24.57 3.70 5,369.6 6.937 4.305 6.190 6.100 1023 CIMB 6.140 0.040 16527.1 6.153 13.07 4.07 55,580.0 0.705 0.320 0.510 0.505 2143 ECM 0.505 0.005 51.5 0.510 54.30 — 144.7 1.218 1.150 1.200 1.200 5228 ELKDESA 1.200 -0.010 13.5 1.200 12.18 5.60 357.4 16.000 12.414 15.940 15.720 5819 HLBANK 15.940 UNCH 864 15.928 15.21 2.82 34,553.4 10.100 7.327 — — 5274 HLCAP 9.790 — — — 29.83 1.94 2,417.1 17.735 13.892 16.820 16.600 1082 HLFG 16.700 -0.220 194.3 16.704 12.68 2.28 19,163.5 2.610 2.590 — — 6688 HWANG 2.610 — — — 18.60 1.15 666.0 1.140 0.666 1.010 0.985 3379 INSAS 0.985 -0.010 825.6 1.000 3.61 1.02 682.9 1.040 0.901 0.990 0.975 3379PA INSAS-PA 0.990 0.010 145.9 0.983 — 6.06 131.3 0.395 0.150 0.290 0.275 3441 JOHAN 0.280 0.010 15652.4 0.279 — — 174.4 0.690 0.415 0.540 0.535 6483 KENANGA 0.535 UNCH 43.9 0.536 32.82 4.21 386.6 19.302 15.252 18.240 18.180 8621 LPI 18.220 0.020 21 18.214 19.37 4.50 6,048.8 0.857 0.771 0.800 0.800 1198 MAA 0.800 UNCH 66 0.800 8.54 11.25 218.8 3.300 2.895 — — 1058 MANULFE 3.160 — — — 11.70 3.32 639.5 9.629 7.202 9.280 9.200 1155 MAYBANK 9.250 0.010 11073.1 9.252 12.51 5.95 98,020.6 1.380 0.850 1.120 1.100 1171 MBSB 1.110 -0.010 2934.8 1.110 20.98 2.70 6,576.1 2.840 2.290 2.300 2.300 6459 MNRB 2.300 UNCH 6 2.300 7.88 — 735.1 1.830 1.160 1.330 1.310 5237 MPHBCAP 1.320 0.010 193.9 1.314 15.73 — 943.8 1.289 1.230 — — 6009 P&O 1.260 — — — 27.21 6.90 309.9 20.900 18.835 20.540 20.420 1295 PBBANK 20.460 -0.040 9728.2 20.494 14.45 2.88 79,428.6 1.887 1.179 1.650 1.610 9296 RCECAP 1.620 -0.030 273.9 1.621 6.57 1.85 575.7 5.495 4.477 5.080 5.010 1066 RHBBANK 5.080 0.020 1969.1 5.059 11.52 2.36 20,371.0 0.708 0.422 0.640 0.630 4898 TA 0.640 0.015 506.1 0.633 3.01 2.66 1,095.6 4.250 3.580 3.850 3.820 6139 TAKAFUL 3.850 0.030 10.9 3.839 16.69 4.07 3,169.1 1.620 0.980 1.230 1.210 5230 TUNEPRO 1.220 0.010 688.5 1.221 16.42 4.26 917.1

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


2 7




PROPERTIES 0.852 0.713 0.800 0.790 1007 AMPROP 0.795 -0.005 153.2 0.791 46.76 3.77 483.9 1.850 0.990 1.300 1.300 5959 A&M 1.300 UNCH 9.6 1.300 25.69 — 474.6 0.230 0.145 0.185 0.175 4057 ASIAPAC 0.175 -0.005 6593.8 0.179 15.63 — 177.8 0.525 0.420 0.490 0.475 6602 BCB 0.490 0.005 49.5 0.477 19.92 — 202.1 0.650 0.425 — — 9814 BERTAM 0.435 — — — 1.75 — 89.9 1.400 0.790 1.090 1.070 3239 BJASSET 1.070 -0.020 160.7 1.074 — — 1,272.4 1.500 1.040 1.330 1.300 5738 CHHB 1.300 UNCH 33 1.306 — — 358.4 1.673 1.363 1.570 1.540 6718 CRESNDO 1.540 UNCH 23.4 1.561 10.30 3.90 431.9 1.720 1.320 1.640 1.630 5049 CVIEW 1.630 UNCH 20 1.635 5.79 9.20 163.0 2.440 2.100 2.350 2.350 5355 DAIMAN 2.350 0.040 23 2.350 20.87 2.34 498.7 1.040 0.500 0.665 0.630 3484 DBHD 0.660 0.035 1409 0.655 — — 204.2 2.089 1.373 1.540 1.500 3417 E&O 1.540 0.010 462.4 1.531 18.58 1.95 2,043.1 0.325 0.250 0.320 0.310 3557 ECOFIRS 0.310 -0.005 1666.1 0.315 15.05 — 249.0 1.720 1.300 1.560 1.540 8206 ECOWLD 1.550 -0.010 444.1 1.550 20.86 — 4,563.8 0.920 0.570 — — 6076 ENCORP 0.770 — — — 6.25 — 226.3 3.180 1.930 2.700 2.600 8613 ENRA 2.700 0.050 130 2.675 32.73 1.11 367.8 1.300 0.740 1.200 1.180 6815 EUPE 1.190 0.010 314.4 1.189 — — 152.3 1.360 1.000 1.050 1.040 5283 EWINT 1.050 UNCH 211 1.042 — — 2,520.0 0.617 0.468 0.505 0.505 6041 FARLIM 0.505 -0.005 11 0.505 10.18 3.96 70.9 0.744 0.610 0.660 0.655 5020 GLOMAC 0.655 -0.015 31 0.655 19.04 4.58 476.7 0.523 0.367 0.395 0.385 9962 GMUTUAL 0.385 -0.015 25 0.388 8.73 5.19 144.6 0.470 0.290 0.375 0.375 1147 GOB 0.375 UNCH 399 0.375 7.67 1.33 170.5 1.426 1.092 1.180 1.140 1503 GUOCO 1.170 -0.010 367.7 1.147 6.39 1.71 819.5 0.570 0.370 0.450 0.440 7010 HOOVER 0.450 0.020 15.3 0.444 44.12 — 18.0 1.180 0.780 0.790 0.780 5062 HUAYANG 0.780 -0.015 999.2 0.782 12.26 5.13 274.6 0.648 0.542 0.595 0.580 4251 IBHD 0.580 -0.015 917.8 0.585 8.24 3.24 584.7 1.050 0.755 — — 5084 IBRACO 0.870 — — — 30.85 4.02 431.9 2.938 2.318 2.820 2.800 1597 IGB 2.800 UNCH 118.5 2.814 9.74 3.57 3,822.8 2.231 1.798 2.010 1.990 5249 IOIPG 1.990 -0.010 2855.2 2.000 11.39 3.02 10,957.2 0.620 0.370 0.385 0.375 5175 IVORY 0.385 0.005 184.3 0.379 16.11 — 188.7 3.290 0.785 — — 1589 IWCITY 1.400 — — — — — 1,172.3 0.146 0.095 0.105 0.105 6769 JKGLAND 0.105 -0.005 476 0.105 15.44 2.19 238.9 0.085 0.040 0.070 0.065 3115 KBUNAI 0.070 UNCH 247.5 0.065 15.22 — 404.4 1.100 0.798 — — 7323 KEN 0.940 — — — 4.33 2.66 180.2 1.330 0.995 1.260 1.240 5038 KSL 1.260 UNCH 338.9 1.252 4.10 — 1,307.3 0.279 0.210 0.225 0.220 3174 L&G 0.220 -0.005 2630.5 0.223 7.38 — 644.4 1.287 1.010 — — 8494 LBICAP 1.040 — — — — 10.10 83.9 2.057 1.546 1.960 1.910 5789 LBS 1.920 -0.030 755.5 1.933 11.95 2.08 1,303.0 0.460 0.235 0.350 0.350 3573 LIENHOE 0.350 UNCH 536.3 0.350 — — 126.6 1.690 0.941 1.340 1.300 7617 MAGNA 1.340 UNCH 24.1 1.313 67.00 4.48 448.8 1.580 1.281 1.560 1.540 8583 MAHSING 1.540 -0.030 148.5 1.552 11.54 4.22 3,724.5 1.940 0.619 1.240 1.230 6181 MALTON 1.240 0.010 1377.5 1.239 9.90 2.02 654.6 2.300 1.798 2.260 2.240 5236 MATRIX 2.250 UNCH 450.1 2.251 9.00 4.89 1,665.8 1.833 0.975 1.650 1.640 7189 MBWORLD 1.650 0.050 8 1.648 6.86 2.12 259.7 1.200 0.750 0.840 0.840 5182 MCT 0.840 0.040 1.2 0.840 17.68 — 1,121.2 0.525 0.400 0.410 0.400 5040 MEDAINC 0.405 -0.005 120 0.405 35.84 — 199.5 1.020 0.680 0.920 0.905 1694 MENANG 0.905 UNCH 201.1 0.905 21.34 — 241.7 0.605 0.250 0.395 0.370 8141 MJPERAK 0.380 0.005 350 0.385 90.48 5.63 97.7 2.614 2.060 2.100 2.070 6114 MKH 2.070 -0.020 359.3 2.083 5.34 3.27 1,166.4 0.360 0.250 0.270 0.265 8893 MKLAND 0.270 -0.005 205 0.270 18.00 — 326.0 0.215 0.085 0.140 0.140 6548 MPCORP 0.140 -0.010 1.6 0.140 — — 40.3 1.536 0.870 1.100 1.050 1651 MRCB 1.060 -0.070 19538.6 1.071 10.18 2.26 4,648.3 1.080 0.540 0.585 0.585 9539 MUH 0.585 0.025 13.5 0.585 — — 33.0 0.365 0.230 0.310 0.295 3913 MUIPROP 0.305 0.015 1875.5 0.302 338.89 — 233.0 1.900 1.140 1.180 1.160 5073 NAIM 1.170 -0.010 262.4 1.164 — — 292.5 2.910 2.192 2.500 2.500 5827 OIB 2.500 UNCH 0.1 2.500 9.41 2.80 362.2 1.679 1.322 1.580 1.570 5053 OSK 1.580 0.010 923.9 1.580 8.97 4.75 2,216.6 1.849 1.285 1.750 1.740 1724 PARAMON 1.750 UNCH 60 1.749 11.47 4.86 742.5 0.695 0.445 0.645 0.640 6912 PASDEC 0.645 UNCH 28.4 0.645 — — 184.5 1.820 1.540 1.700 1.660 5075 PLENITU 1.700 0.010 10.1 1.669 12.93 2.65 648.6 0.425 0.225 0.370 0.360 2208 PTGTIN 0.370 -0.010 40 0.365 — — 128.1 1.270 0.915 — — 4596 SAPRES 0.955 — — — 1.24 3.14 133.3 0.820 0.655 0.670 0.660 5207 SBCCORP 0.660 -0.010 7.5 0.663 — — 155.0 1.139 0.764 1.070 1.060 2224 SDRED 1.060 UNCH 123.6 1.067 8.11 2.36 451.7 0.580 0.370 0.460 0.450 4286 SEAL 0.450 -0.010 21.5 0.453 — — 109.3 2.860 2.704 2.800 2.790 6017 SHL 2.790 -0.040 11 2.796 8.36 7.17 675.5 0.305 0.140 0.240 0.235 4375 SMI 0.235 UNCH 238.5 0.235 1.64 — 49.3 1.000 0.690 0.745 0.730 5213 SNTORIA 0.735 -0.005 55.7 0.738 10.25 — 366.8 5.190 4.211 4.810 4.800 1783 SPB 4.800 UNCH 15.5 4.803 12.73 2.50 1,649.4 4.264 2.937 3.350 3.250 8664 SPSETIA 3.270 -0.060 1124.2 3.281 11.05 6.12 9,883.1 1.590 0.895 1.390 1.380 3743 SUNSURIA 1.380 -0.010 47.3 1.382 13.52 — 1,102.4 1.035 0.604 0.880 0.855 1538 SYMLIFE 0.870 0.015 286 0.861 6.04 3.45 269.7 0.410 0.220 0.385 0.370 5158 TAGB 0.380 0.005 2066.5 0.379 7.74 1.05 2,022.3 7.600 6.353 — — 2305 TAHPS 6.950 — — — 31.41 0.72 520.2 0.055 0.035 0.050 0.045 2259 TALAMT 0.045 -0.005 78 0.046 — — 189.9 1.465 1.090 1.190 1.160 5191 TAMBUN 1.180 0.020 339.2 1.175 4.85 8.47 511.3 0.165 0.055 0.150 0.140 2429 TANCO 0.145 0.005 3453.9 0.144 — — 95.9 0.315 0.170 0.260 0.255 7889 THRIVEN 0.260 0.005 126.6 0.256 — — 97.9 0.085 0.040 0.050 0.045 7079 TIGER 0.050 0.005 4880.6 0.045 — — 81.3 1.900 1.380 1.540 1.520 5239 TITIJYA 1.530 0.030 199.4 1.538 7.83 0.33 799.8 1.060 0.900 1.010 0.995 5401 TROP 1.000 UNCH 637.3 0.999 9.73 2.00 1,465.8 1.360 0.995 1.130 1.110 5148 UEMS 1.110 -0.010 3547.3 1.123 20.56 1.44 5,036.6 2.700 2.096 2.580 2.500 5200 UOADEV 2.550 0.020 187.3 2.552 6.17 5.88 4,422.3 0.525 0.300 0.315 0.310 6378 WMG 0.310 -0.005 329.2 0.310 — — 132.1 1.279 0.866 — — 7003 Y&G 0.950 — — — 14.64 — 189.4 1.620 1.330 1.410 1.390 3158 YNHPROP 1.410 UNCH 14.3 1.404 22.10 — 745.9 1.680 1.160 1.620 1.600 7066 YONGTAI 1.610 UNCH 1147.9 1.618 44.97 — 703.0 0.670 0.550 0.565 0.555 2577 YTLLAND 0.555 UNCH 53.2 0.560 54.95 — 468.6MINING 1.630 1.150 1.490 1.470 2186 KUCHAI 1.490 0.020 128.5 1.473 4.11 0.65 184.4PLANTATIONS 0.285 0.195 0.210 0.205 7054 AASIA 0.210 UNCH 371.2 0.206 — — 138.6 20.100 17.198 19.800 19.800 1899 BKAWAN 19.800 -0.140 5.4 19.800 12.60 2.78 8,631.8 8.639 8.380 8.380 8.380 5069 BLDPLNT 8.380 -0.120 1.4 8.380 50.36 0.48 783.5 1.666 1.349 1.640 1.610 5254 BPLANT 1.610 -0.020 598.3 1.620 16.72 8.70 2,576.0 1.000 0.761 0.930 0.915 8982 CEPAT 0.915 -0.005 227.7 0.920 8.73 1.64 291.4 8.244 7.360 7.900 7.880 1929 CHINTEK 7.900 0.100 1.7 7.891 40.66 2.41 721.8 0.735 0.385 0.710 0.670 3948 DUTALND 0.675 -0.055 31460.5 0.685 198.53 — 571.1 9.800 7.359 — — 5029 FAREAST 9.500 — — — 8.71 3.16 1,343.2 2.178 1.412 1.930 1.890 5222 FGV 1.910 0.020 11977.8 1.908 107.30 0.52 6,968.0 11.614 10.066 10.680 10.600 2291 GENP 10.680 0.060 279.5 10.648 19.08 1.26 8,580.0 0.658 0.560 0.590 0.580 7382 GLBHD 0.580 -0.015 487.4 0.587 47.54 1.72 129.3 1.410 1.105 1.400 1.400 2135 GOPENG 1.400 UNCH 2 1.400 47.14 2.86 251.1 0.890 0.670 0.720 0.720 7501 HARNLEN 0.720 UNCH 51.5 0.720 37.70 — 133.5 2.700 2.286 2.670 2.670 5138 HSPLANT 2.670 0.020 5 2.670 14.17 5.43 2,136.0 3.616 2.830 2.950 2.870 2216 IJMPLNT 2.870 0.010 2.4 2.937 23.68 2.44 2,527.3 0.734 0.650 0.690 0.680 2607 INCKEN 0.685 UNCH 12.5 0.688 201.47 1.64 288.2 1.452 0.784 1.240 1.230 6262 INNO 1.240 0.030 10.1 1.235 15.16 1.61 593.8 4.757 4.208 4.550 4.430 1961 IOICORP 4.460 -0.060 4716.6 4.477 38.25 2.13 28,026.0 25.137 22.521 24.700 24.100 2445 KLK 24.600 UNCH 1128.6 24.618 23.01 2.03 26,260.6 3.700 2.990 3.580 3.580 2453 KLUANG 3.580 0.080 4 3.580 122.60 0.28 226.2 4.740 3.104 4.740 4.580 5027 KMLOONG 4.630 0.080 137.6 4.665 15.41 3.67 1,443.7 0.695 0.501 0.560 0.560 1996 KRETAM 0.560 UNCH 60 0.560 29.63 1.79 1,303.5 1.750 1.340 1.480 1.450 6572 KWANTAS 1.480 0.030 6.9 1.468 10.93 — 461.3 1.550 1.240 — — 4936 MALPAC 1.290 — — — — — 96.8 0.963 0.790 0.890 0.870 5026 MHC 0.870 UNCH 5.1 0.886 10.33 1.72 171.0 2.388 1.700 1.990 1.990 5047 NPC 1.990 0.090 3.9 1.990 6.55 0.50 238.8 4.239 3.900 3.990 3.970 2038 NSOP 3.990 0.040 41 3.984 32.31 1.50 280.1 0.315 0.190 0.210 0.205 1902 PINEPAC 0.210 UNCH 230 0.210 — — 31.5 1.380 0.960 — — 9695 PLS 0.960 — — — — — 313.6 0.550 0.400 0.410 0.410 5113 RSAWIT 0.410 UNCH 459.9 0.410 — — 581.6 4.100 3.444 3.650 3.650 2542 RVIEW 3.650 0.030 2 3.650 15.01 1.64 236.7 3.280 2.900 2.990 2.990 2569 SBAGAN 2.990 -0.010 4 2.990 — 0.67 198.3 0.720 0.505 0.575 0.575 4316 SHCHAN 0.575 UNCH 7 0.575 — — 69.0 4.660 3.480 4.660 4.400 5126 SOP 4.580 0.170 465.5 4.545 11.67 1.09 2,614.2 1.850 1.520 1.690 1.680 5135 SWKPLNT 1.680 UNCH 95.9 1.680 11.62 — 470.4 0.730 0.495 0.535 0.525 2054 TDM 0.525 0.005 713.6 0.530 50.48 0.95 870.4 1.207 0.998 1.120 1.100 5112 THPLANT 1.100 -0.010 96 1.109 5.89 5.45 972.2 1.928 1.560 1.700 1.680 9059 TSH 1.700 0.020 317.7 1.695 45.21 1.18 2,349.1 6.830 5.330 6.760 6.650 2593 UMCCA 6.760 0.100 76.3 6.687 16.17 2.96 1,416.1 28.700 25.323 27.460 27.380 2089 UTDPLT 27.420 0.080 36.9 27.396 14.81 1.46 5,707.0HOTELS 0.628 0.483 0.540 0.540 5592 GCE 0.540 0.025 2 0.540 — 3.70 106.4 1.000 0.680 0.730 0.725 1643 LANDMRK 0.730 UNCH 205 0.728 — — 386.1 0.230 0.115 0.190 0.160 1287 PMHLDG 0.180 0.015 5093.7 0.176 — — 167.2 5.588 4.832 5.300 5.140 5517 SHANG 5.200 -0.100 104 5.187 29.75 2.69 2,288.0TECHNOLOGY 0.715 0.585 0.700 0.635 7031 AMTEL 0.635 0.005 17.1 0.690 — — 31.3 0.420 0.180 0.300 0.285 5195 CENSOF 0.295 0.005 5499.4 0.294 — — 148.0 0.430 0.105 0.425 0.380 0051 CUSCAPI 0.405 -0.015 62666.3 0.403 — — 197.1 0.729 0.283 0.660 0.655 7204 D&O 0.655 -0.005 694.2 0.657 43.09 — 655.5 0.710 0.110 0.245 0.205 8338 DATAPRP 0.235 0.035 88975.1 0.230 — — 99.0 0.235 0.140 0.150 0.145 0029 DIGISTA 0.145 -0.005 955.2 0.148 — — 95.5 1.578 1.304 1.380 1.370 5162 ECS 1.380 UNCH 22.3 1.378 8.68 4.35 248.4 1.540 0.539 1.530 1.500 0065 EFORCE 1.500 UNCH 3381.1 1.512 97.40 0.83 620.6 2.917 1.216 2.590 2.570 0090 ELSOFT 2.590 0.020 33.2 2.584 21.86 1.93 712.6 1.870 0.790 1.580 1.550 0021 GHLSYS 1.570 0.020 1600.6 1.571 52.16 0.32 1,035.3 0.455 0.210 0.400 0.395 0082 GPACKET 0.395 UNCH 2707.1 0.396 3.60 — 299.7 0.280 0.175 0.255 0.245 0056 GRANFLO 0.255 0.010 925.5 0.248 — — 123.2 6.650 3.190 6.590 6.420 7022 GTRONIC 6.590 0.040 1304.2 6.497 68.22 0.61 1,878.8 0.940 0.490 0.940 0.895 5028 HTPADU 0.920 0.015 1618.5 0.922 8.15 5.43 93.1 2.870 1.956 2.850 2.790 0166 INARI 2.810 -0.030 5086.2 2.810 24.00 2.65 5,688.6 0.435 0.080 0.190 0.185 9393 ITRONIC 0.185 -0.005 310 0.187 — — 19.0 0.675 0.445 0.540 0.515 5161 JCY 0.540 0.015 3263 0.530 33.96 8.33 1,121.5 16.960 8.460 16.920 16.800 9334 KESM 16.920 UNCH 10.4 16.894 16.53 0.74 727.8 0.340 0.060 0.270 0.245 0143 KEYASIC 0.245 -0.015 27440 0.255 — — 218.1 14.520 7.086 14.060 13.900 3867 MPI 13.920 0.020 47.5 13.947 14.86 1.94 2,921.6 1.467 0.960 1.320 1.320 5011 MSNIAGA 1.320 0.090 0.2 1.320 17.65 3.79 79.7 1.327 0.343 0.720 0.705 0083 NOTION 0.715 0.005 3330.9 0.713 10.64 3.85 236.4 0.605 0.430 0.475 0.470 9008 OMESTI 0.470 UNCH 369.2 0.470 — — 202.5 0.375 0.245 0.285 0.265 0041 PANPAGE 0.280 0.015 4074.5 0.276 — — 74.3 5.080 1.190 4.780 4.740 7160 PENTA 4.780 0.040 219.1 4.760 20.01 — 700.6 0.675 0.250 0.675 0.470 9075 THETA 0.570 0.110 14669.9 0.584 — — 61.1

Ace Market YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL)

0.275 0.078 0.155 0.135 0118 TRIVE 0.135 -0.005 201088 0.143 56.25 — 186.4 4.207 2.184 4.040 3.990 5005 UNISEM 4.000 -0.030 569.6 4.007 16.58 2.75 2,935.3 5.300 1.727 5.030 5.000 0097 VITROX 5.030 0.040 207.2 5.010 31.56 0.65 2,364.9 1.750 0.690 1.160 1.140 0008 WILLOW 1.150 -0.010 109.2 1.147 14.02 1.74 285.2INFRASTRUCTURE PROJECT COMPANIES 5.087 4.583 5.010 4.970 6947 DIGI 5.000 0.020 9143.3 4.996 26.06 2.84 38,875.0 6.000 5.293 5.900 5.890 6645 LITRAK 5.890 UNCH 310.8 5.890 14.40 5.09 3,107.8 0.372 0.215 0.240 0.240 5078 M&G 0.240 -0.005 194 0.240 — 20.83 173.7 1.140 0.700 0.735 0.725 6807 PUNCAK 0.730 -0.010 523.1 0.729 — — 328.0 9.900 7.490 9.220 9.140 5031 TIMECOM 9.180 0.010 471.8 9.184 20.50 2.17 5,337.7 1.443 1.283 1.310 1.290 6742 YTLPOWR 1.300 UNCH 1853 1.301 14.91 3.85 10,602.8CLOSED-END FUNDS 2.760 2.360 2.680 2.670 5108 ICAP 2.680 UNCH 27 2.673 168.55 — 375.2EXCHANGE TRADED FUNDS 1.140 1.070 — — 0800EA ABFMY1 1.140 — — — — 4.98 1,505.3 2.210 1.690 1.930 1.930 0822EA CIMBA40 1.930 UNCH 1.6 1.930 — 3.83 5.2 1.700 1.290 1.700 1.690 0823EA CIMBC50 1.700 UNCH 26.4 1.690 — — 16.6 1.865 1.700 1.825 1.800 0820EA FBMKLCI-EA 1.800 -0.040 56.9 1.822 — 1.83 3.0 1.100 0.977 — — 0826EA METFAPA 1.095 — — — — — 20.8 0.952 0.893 0.913 0.910 0825EA METFSID 0.913 0.003 55 0.911 — 2.56 48.4 1.115 1.045 1.110 1.110 0821EA MYETFDJ 1.110 0.030 1 1.110 — 2.01 308.5 1.120 1.015 1.070 1.070 0824EA MYETFID 1.070 0.005 4 1.070 — 1.42 54.4REITS 1.000 0.860 — — 4952 AHP 0.870 — — — 65.41 4.83 191.4 1.615 1.378 — — 5116 ALAQAR 1.480 — — — 17.94 5.10 1,077.8 1.040 0.966 1.040 0.995 5269 ALSREIT 1.040 0.045 38.2 1.014 12.12 6.01 603.2 0.828 0.705 0.715 0.710 5120 AMFIRST 0.715 0.005 7.6 0.714 21.80 5.68 490.8 0.965 0.863 0.945 0.945 5127 ARREIT 0.945 UNCH 16.1 0.945 13.74 5.94 541.7 1.210 1.025 1.160 1.160 5130 ATRIUM 1.160 UNCH 10.2 1.160 22.79 6.16 141.3 1.689 1.497 1.540 1.540 5106 AXREIT 1.540 UNCH 55.2 1.540 16.61 5.47 1,702.0 1.664 1.400 1.480 1.460 5180 CMMT 1.480 0.010 1217.6 1.461 19.95 5.66 3,015.9 1.532 1.192 1.290 1.280 5121 HEKTAR 1.290 0.010 151 1.287 12.54 8.86 595.9 1.750 1.406 1.660 1.640 5227 IGBREIT 1.650 -0.010 1133.4 1.650 20.42 5.26 5,788.6 1.008 0.881 0.930 0.920 5280 KIPREIT 0.930 UNCH 658.5 0.924 22.04 3.68 469.9 8.010 7.187 8.000 7.740 5235 KLCC 8.000 0.240 1084.8 7.846 16.41 4.46 14,442.7 1.320 1.129 1.280 1.270 5123 MQREIT 1.280 0.010 26 1.271 15.76 9.91 1,367.0 1.866 1.551 1.710 1.690 5212 PAVREIT 1.710 0.010 421.3 1.701 17.31 4.70 5,181.5 1.750 1.547 1.740 1.720 5176 SUNREIT 1.720 -0.010 4083 1.721 11.94 5.34 5,065.5 1.220 1.095 1.200 1.190 5111 TWRREIT 1.190 UNCH 50 1.194 17.84 5.82 333.8 1.796 1.620 1.640 1.640 5110 UOAREIT 1.640 -0.010 5.4 1.640 15.46 5.76 693.5 1.220 1.025 1.220 1.210 5109 YTLREIT 1.210 -0.010 128.3 1.216 — 5.78 2,062.3SPAC 0.720 0.715 — — 5234 CLIQ 0.720 — — — — — 454.3 0.480 0.475 — — 5241 SONA 0.475 — — — — — 670.1

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


CONSUMER PRODUCTS 0.285 0.195 0.255 0.250 0179 BIOHLDG 0.255 Unch 1197.2 0.255 19.92 — 206.1 0.310 0.200 0.220 0.210 0170 KANGER 0.220 0.005 7082.2 0.216 23.16 — 175.7 0.450 0.200 0.320 0.320 0148 SUNZEN 0.320 Unch 361.9 0.320 46.38 — 154.3 0.065 0.025 0.065 0.060 0095 XINGHE 0.060 Unch 54767.5 0.060 4.84 — 140.9INDUSTRIAL PRODUCTS 0.245 0.137 0.205 0.190 0105 ASIAPLY 0.195 0.005 2933 0.197 21.43 2.56 65.0 0.130 0.090 0.110 0.105 0072 AT 0.110 Unch 3425.2 0.109 — — 45.4 0.445 0.245 0.355 0.350 0163 CAREPLS 0.350 -0.005 2361.9 0.351 — — 177.2 0.330 0.110 0.205 0.200 0102 CONNECT 0.200 -0.005 600 0.200 21.51 — 64.4 0.505 0.315 0.330 0.320 0100 ESCERAM 0.320 -0.005 314.8 0.326 13.22 — 65.8 0.370 0.215 0.330 0.320 0175 HHGROUP 0.320 -0.005 1001.7 0.324 228.57 — 98.8 0.145 0.065 0.125 0.115 0160 HHHCORP 0.115 -0.005 1814.9 0.119 18.25 — 38.3 0.555 0.180 0.445 0.430 0162 IJACOBS 0.440 0.010 1382 0.440 25.29 — 60.2 0.165 0.095 0.150 0.145 0024 JAG 0.145 -0.005 3956.7 0.146 19.59 0.69 183.6 0.250 0.130 0.220 0.210 0025 LNGRES 0.210 -0.005 1839.7 0.214 21.88 — 50.8 0.145 0.040 0.070 0.065 0070 MQTECH 0.070 Unch 1081.7 0.065 — — 29.0 0.860 0.365 0.695 0.685 0049 OCNCASH 0.695 0.005 152.3 0.686 14.27 1.01 155.0 0.610 0.130 0.290 0.280 0038 PTB 0.280 -0.005 32.2 0.286 — — 42.1 0.175 0.125 0.135 0.130 0133 SANICHI 0.130 Unch 2268.8 0.130 — — 39.5 0.060 0.025 0.040 0.040 0109 SCBUILD 0.040 Unch 261 0.040 — — 35.3 0.325 0.110 0.320 0.295 0001 SCOMNET 0.305 -0.010 5200.1 0.307 29.61 — 74.1 0.289 0.142 0.235 0.225 0028 SCOPE 0.230 0.005 1427.8 0.230 28.05 2.17 128.9 0.290 0.120 0.190 0.190 0055 SERSOL 0.190 -0.005 519 0.190 — — 40.9 0.875 0.133 0.835 0.825 0084 TECFAST 0.825 Unch 1000.3 0.829 47.41 0.46 188.2TECHNOLOGY 0.995 0.225 0.680 0.655 0018 ACCSOFT 0.680 0.030 11.3 0.658 29.31 — 566.3 0.750 0.160 0.640 0.625 0181 AEMULUS 0.630 0.005 4242.1 0.633 75.90 — 276.5 0.455 0.240 0.390 0.370 0119 APPASIA 0.390 0.015 2375.1 0.382 — — 122.4 0.450 0.145 0.195 0.185 0068 ASDION 0.195 0.010 553.2 0.190 — — 22.7 1.050 0.615 0.650 0.630 0098 BAHVEST 0.630 Unch 209.5 0.636 — — 378.1 0.764 0.585 0.640 0.605 0191 CABNET 0.625 0.020 378.1 0.622 10.25 — 81.3 0.100 0.030 0.095 0.080 0152 DGB 0.090 Unch 13172.1 0.089 — — 48.4 0.075 0.025 0.055 0.045 0131 DGSB 0.050 Unch 26391.7 0.050 83.33 — 67.8 0.068 0.028 0.050 0.045 0154 EAH 0.045 Unch 12213.5 0.045 40.91 — 156.5 0.235 0.115 0.145 0.130 0107 EDUSPEC 0.135 Unch 3339.4 0.138 — — 135.2 0.500 0.070 0.440 0.410 0116 FOCUS 0.425 0.015 4607.2 0.426 — — 330.4 1.700 0.815 1.700 1.630 0104 GENETEC 1.680 0.060 2894.4 1.677 — — 59.6 0.759 0.431 0.610 0.590 0039 GFM 0.600 Unch 680.5 0.598 24.49 2.42 256.9 0.090 0.035 0.055 0.050 0045 GNB 0.055 Unch 2826.9 0.053 — — 15.9 0.195 0.070 0.170 0.165 0074 GOCEAN 0.170 0.005 176.1 0.167 283.33 — 44.8 0.100 0.040 0.080 0.075 0174 IDMENSN 0.075 Unch 1369.9 0.075 — — 40.8 0.533 0.227 0.405 0.390 0023 IFCAMSC 0.395 0.005 9250.9 0.399 23.24 1.27 240.3 0.100 0.060 0.080 0.075 0094 INIX 0.075 Unch 191 0.075 — — 19.0 0.220 0.100 0.170 0.165 0010 IRIS 0.165 Unch 1114.3 0.166 — — 407.9 2.290 0.450 2.050 2.030 0146 JFTECH 2.030 -0.020 98.1 2.034 40.12 0.99 255.8 3.420 0.594 3.000 2.980 0127 JHM 2.980 -0.020 145.3 2.992 26.30 — 783.1 0.270 0.130 0.190 0.190 0111 K1 0.190 Unch 238.4 0.190 — — 98.6 0.460 0.102 0.175 0.160 0036 KGROUP 0.165 Unch 13997.1 0.169 — — 70.6 1.230 0.230 1.230 1.150 0176 KRONO 1.210 0.040 11365.4 1.193 30.33 — 359.8 0.170 0.045 0.155 0.150 0017 M3TECH 0.150 Unch 11912.9 0.150 — — 88.0 0.650 0.220 0.610 0.580 0075 MEXTER 0.580 -0.020 923.9 0.590 — — 129.6 0.590 0.405 — — 0155 MGRC 0.420 — — — 63.64 — 43.5 1.200 0.855 1.000 0.990 0126 MICROLN 1.000 0.010 63.4 0.996 28.17 — 167.4 0.595 0.319 0.495 0.490 0112 MIKROMB 0.495 Unch 1649.7 0.490 19.49 2.89 213.3 0.465 0.065 0.105 0.095 0085 MLAB 0.100 0.005 54899.4 0.100 50.00 — 57.1 0.315 0.160 0.275 0.265 0034 MMAG 0.270 Unch 15899.5 0.271 — — 82.0 2.028 0.498 1.850 1.800 0113 MMSV 1.850 0.040 1885.6 1.833 17.39 1.08 301.6 0.130 0.055 0.100 0.090 0103 MNC 0.095 Unch 23520.9 0.095 52.78 — 45.4 0.310 0.155 0.270 0.260 0156 MPAY 0.260 -0.005 5714.3 0.265 — — 184.7 0.684 0.121 0.215 0.195 0092 MTOUCHE 0.195 Unch 34394.5 0.205 47.56 — 99.3 1.140 0.616 1.110 1.060 0108 N2N 1.080 Unch 5107.3 1.084 26.09 1.85 515.3 0.110 0.015 0.055 0.050 0020 NETX 0.050 Unch 9425.8 0.053 55.56 — 76.3 0.055 0.035 0.040 0.035 0096 NEXGRAM 0.035 -0.005 320.5 0.037 — — 65.9 0.125 0.070 0.115 0.105 0026 NOVAMSC 0.110 Unch 8179 0.110 — — 75.2 0.662 0.536 0.560 0.555 0035 OPCOM 0.555 Unch 7.4 0.556 16.28 7.21 89.5 0.408 0.310 0.325 0.315 0040 OPENSYS 0.325 0.005 230.8 0.319 19.94 3.08 96.8 0.380 0.120 0.130 0.125 0079 ORION 0.130 Unch 1321 0.130 — — 77.9 0.455 0.055 0.440 0.415 0005 PALETTE 0.420 Unch 13328.3 0.422 48.84 — 137.8 0.230 0.135 0.170 0.165 0123 PRIVA 0.170 Unch 746.9 0.170 — — 94.9 0.195 0.055 0.180 0.170 0007 PUC 0.180 0.005 16606.2 0.174 75.00 — 233.5 0.980 0.555 0.800 0.795 0106 REXIT 0.800 0.005 115.1 0.799 18.96 5.00 151.5 0.375 0.227 0.330 0.325 0178 SEDANIA 0.330 Unch 496.9 0.330 — 3.03 74.5 0.190 0.055 0.090 0.090 0060 SKH 0.090 Unch 1404 0.090 37.50 — 49.9 0.300 0.155 0.185 0.170 0117 SMRT 0.175 0.005 4090.5 0.177 — — 63.2 0.185 0.100 0.165 0.155 0169 SMTRACK 0.160 0.005 6571.2 0.162 — — 18.0 0.343 0.247 0.285 0.280 0093 SOLUTN 0.285 Unch 359 0.285 8.26 3.51 87.3 0.360 0.100 0.155 0.155 0129 SRIDGE 0.155 Unch 30 0.155 — — 18.8 0.470 0.165 0.415 0.400 0050 SYSTECH 0.415 0.015 7231.7 0.411 55.33 0.72 144.3 0.180 0.140 0.155 0.150 0132 TDEX 0.150 0.005 3016 0.150 136.36 — 62.0 1.480 0.214 1.150 1.120 0120 VIS 1.150 Unch 244.7 1.140 20.00 0.43 129.2 0.190 0.115 0.145 0.135 0069 VIVOCOM 0.140 Unch 13037 0.140 22.58 — 471.6 0.155 0.065 0.135 0.130 0066 VSOLAR 0.135 0.005 10402.2 0.133 — — 50.4 0.070 0.020 — — 0141 WINTONI 0.035 — — — — — 18.0 0.275 0.080 0.225 0.210 0086 YGL 0.220 0.005 1680.1 0.218 — — 51.1TRADING SERVICES 0.400 0.150 — — 0122 AIM 0.280 — — — — — 74.5 0.165 0.060 0.130 0.125 0048 ANCOMLB 0.130 Unch 641.1 0.130 — — 61.5 0.235 0.118 0.170 0.160 0150 ASIABIO 0.170 0.010 9850.9 0.167 1.38 — 76.6 0.250 0.155 0.195 0.180 0187 BCMALL 0.185 0.005 8129 0.187 40.22 — 77.9 0.392 0.291 0.330 0.330 0011 BTECH 0.330 Unch 12 0.330 20.37 4.85 83.2 0.320 0.170 0.190 0.190 0157 FOCUSP 0.190 -0.025 1 0.190 — — 31.4 1.210 0.386 1.180 1.160 0185 HSSEB 1.180 0.010 920.7 1.178 24.79 0.53 376.5 0.900 0.575 — — 0147 INNITY 0.700 — — — 66.67 — 96.9 0.310 0.200 0.215 0.210 0180 KTC 0.210 Unch 1172.1 0.210 95.45 — 107.2 0.350 0.130 0.205 0.195 0167 MCLEAN 0.200 -0.005 275 0.200 95.24 — 35.8 0.440 0.240 0.250 0.245 0081 MEGASUN 0.245 -0.015 35 0.248 11.04 — 53.7 0.280 0.165 0.200 0.190 0153 OVERSEA 0.200 -0.010 30.1 0.190 333.33 — 49.3 0.200 0.115 0.165 0.155 0177 PASUKGB 0.155 -0.010 996.8 0.160 — — 125.8 0.450 0.230 — — 0006 PINEAPP 0.450 — — — 236.84 — 21.8 0.375 0.216 0.330 0.325 0171 PLABS 0.325 -0.005 349.3 0.327 17.96 2.15 69.8 0.005 0.005 — — 0110 RA 0.005 — — — 2.63 — 4.8 0.615 0.280 0.420 0.405 0032 REDTONE 0.405 -0.015 15.1 0.410 — — 307.0 0.635 0.140 0.600 0.570 0173 REV 0.570 -0.020 10059.9 0.581 4.83 — 76.7 0.726 0.477 0.540 0.530 0158 SCC 0.530 -0.010 130.6 0.537 14.68 5.72 74.8 0.275 0.160 0.220 0.215 0161 SCH 0.215 Unch 1096.9 0.215 51.19 3.95 88.6 0.230 0.100 0.175 0.165 0140 STERPRO 0.165 -0.005 1478.8 0.169 — — 46.1 0.295 0.103 0.275 0.270 0080 STRAITS 0.270 Unch 427.5 0.270 50.94 — 99.3 1.360 0.955 1.330 1.310 0089 TEXCYCL 1.320 -0.020 214.6 1.321 13.64 0.38 225.4 0.230 0.100 0.180 0.175 0145 TFP 0.180 Unch 867.1 0.178 — — 36.9 0.145 0.095 0.115 0.110 0165 XOX 0.110 Unch 2292.5 0.110 — — 103.1FINANCE 0.965 0.386 0.740 0.720 0053 OSKVI 0.725 -0.005 174.9 0.729 2.60 2.76 143.3

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WEDNESDAY NOVEMBER 1, 2017 • THEEDGE FINANCIAL DAILY 2 8

Bursa Malaysia Equity Derivatives

0.190 0.155 0.190 0.190 70310 A50CHIN-C10 0.190 0.030 20 7.912 8.425 10.09 28/03/2018 0.120 0.075 0.080 0.075 523811 AAX-C11 0.080 Unch 466.8 0.375 0.380 22.67 21/06/2018 0.310 0.160 0.195 0.190 5238WA AAX-WA 0.195 Unch 2230.1 0.375 0.460 74.67 08/06/2020 0.330 0.050 0.185 0.180 7315WB AHB-WB 0.185 0.005 62.5 0.310 0.200 24.19 28/08/2019 0.200 0.080 0.120 0.095 509953 AIRASIAC53 0.120 0.025 2999.7 3.340 3.200 6.59 02/02/2018 0.150 0.035 0.050 0.040 509955 AIRASIAC55 0.045 0.010 303 3.340 4.000 23.40 29/12/2017 0.210 0.105 0.145 0.115 509956 AIRASIAC56 0.140 0.030 7398.9 3.340 2.900 4.43 29/12/2017 0.185 0.115 0.145 0.125 509958 AIRASIAC58 0.145 0.030 558.8 3.340 3.300 16.17 26/04/2018 0.165 0.050 0.050 0.050 5014CU AIRPORT-CU 0.050 -0.005 16 8.280 9.500 17.45 22/01/2018 0.145 0.055 0.060 0.060 5014CV AIRPORT-CV 0.060 Unch 138 8.280 8.800 11.35 30/04/2018 0.420 0.160 0.230 0.225 7609WA AJIYA-WA 0.230 Unch 135.1 0.675 0.920 70.37 28/08/2021 0.135 0.040 0.045 0.040 1015C1 AMBANK-C1 0.040 Unch 1154.3 4.280 5.000 19.63 30/04/2018 0.280 0.115 0.225 0.220 6556CD ANNJOO-CD 0.225 -0.005 292 3.750 3.000 1.00 08/12/2017 0.240 0.110 0.205 0.190 6556CE ANNJOO-CE 0.205 Unch 594.5 3.750 3.100 7.27 02/02/2018 0.165 0.125 0.140 0.135 6556CF ANNJOO-CF 0.140 0.005 1011.3 3.750 4.000 22.72 30/04/2018 0.095 0.090 0.095 0.090 6556CG ANNJOO-CG 0.095 Unch 160 3.750 4.380 27.69 14/05/2018 0.275 0.040 0.050 0.045 9342WA ANZO-WA 0.045 -0.005 81 0.110 0.250 168.18 19/11/2019 0.335 0.130 0.265 0.250 0119WA APPASIA-WA 0.260 0.010 1354 0.390 0.130 0.00 23/12/2024 0.255 0.100 0.130 0.125 521024 ARMADA-C24 0.130 0.005 460 0.730 0.600 0.00 30/11/2017 0.100 0.025 0.030 0.030 521027 ARMADA-C27 0.030 Unch 67 0.730 0.835 18.49 02/02/2018 0.100 0.045 0.055 0.055 521028 ARMADA-C28 0.055 -0.005 2380 0.730 0.750 11.03 30/01/2018 0.115 0.105 0.115 0.105 521032 ARMADA-C32 0.105 Unch 563.5 0.730 0.670 10.48 29/06/2018 0.350 0.045 0.050 0.045 0068WB ASDION-WB 0.050 Unch 1745.6 0.195 0.500 182.05 24/03/2019 0.110 0.045 0.055 0.055 0150WA ASIABIO-WA 0.055 Unch 519.3 0.170 0.300 108.82 19/04/2024 0.105 0.070 0.090 0.090 4057WB ASIAPAC-WB 0.090 Unch 240 0.175 0.250 94.29 25/05/2022 0.145 0.055 0.110 0.095 0105WA ASIAPLY-WA 0.100 0.005 665.3 0.195 0.100 2.56 13/12/2020 0.210 0.055 0.120 0.120 6399C1 ASTRO-C1 0.120 Unch 100 2.810 2.600 1.07 30/11/2017 0.765 0.110 0.265 0.250 7099WB ATTA-WB 0.250 -0.015 357.8 0.895 1.000 39.66 09/05/2022 0.045 0.030 0.035 0.035 0072WA AT-WA 0.035 Unch 685 0.110 0.270 177.27 28/01/2019 0.120 0.060 0.060 0.060 0072WB AT-WB 0.060 Unch 16.6 0.110 0.090 36.36 17/10/2019 0.100 0.045 0.085 0.085 688820 AXIATA-C20 0.085 0.005 50 5.390 5.200 2.78 28/02/2018 0.115 0.095 — — 688821 AXIATA-C21 0.095 — — 5.390 5.350 6.31 19/03/2018 0.730 0.210 0.590 0.570 7078WA AZRB-WA 0.590 0.020 53.2 1.150 0.700 12.17 13/05/2024 0.330 0.180 0.260 0.250 0098WA BAHVEST-WA 0.260 Unch 230 0.630 0.870 79.37 20/08/2024 0.050 0.050 — — 4162CH BAT-CH 0.050 — — 39.200 52.00 37.76 07/12/2017 0.100 0.005 0.005 0.005 4162CI BAT-CI 0.005 Unch 50 13.674 46.00 237.87 02/02/2018 0.085 0.055 0.065 0.055 4162CJ BAT-CJ 0.055 -0.015 1103.2 39.200 43.50 14.48 31/07/2018 0.120 0.010 0.030 0.025 5248CR BAUTO-CR 0.030 Unch 193.8 2.040 2.100 5.88 29/12/2017 0.085 0.035 — — 5248CS BAUTO-CS 0.050 — — 2.040 2.100 7.84 08/01/2018 0.120 0.055 — — 524801 BAUTO-MC01 0.060 — — 2.040 2.150 11.27 14/12/2017 0.170 0.095 0.120 0.115 7241WA BHS-WA 0.120 Unch 434.7 0.405 0.600 77.78 18/10/2020 0.150 0.150 — — 5258CV BIMB-CV 0.150 — — 4.390 4.600 18.45 12/02/2018 0.450 0.260 0.290 0.290 5258WA BIMB-WA 0.290 -0.005 79.8 4.390 4.720 14.12 04/12/2023 0.155 0.065 0.110 0.095 6998WA BINTAI-WA 0.105 0.015 1590.3 0.205 0.200 48.78 15/06/2020 0.230 0.095 0.150 0.145 0179WA BIOHLDG-WA 0.145 -0.005 202 0.255 0.220 43.14 05/01/2022 0.400 0.095 0.165 0.165 3239WA BJASSET-WA 0.165 0.005 4 1.070 1.000 8.88 16/03/2018 0.075 0.025 0.025 0.025 3395C4 BJCORP-C4 0.025 Unch 100 0.335 0.350 11.94 28/12/2017 0.160 0.060 0.090 0.090 3395WB BJCORP-WB 0.090 -0.005 215.5 0.335 1.000 225.37 22/04/2022 0.175 0.050 0.110 0.105 3395WC BJCORP-WC 0.105 -0.005 1169 0.335 1.000 229.85 29/05/2026 0.370 0.040 0.310 0.310 7187WA BKOON-WA 0.310 Unch 115.5 0.520 0.200 -1.92 07/07/2023 0.066 0.025 — — 7036WB BORNOIL-WB 0.030 — — 0.095 0.060 -5.26 28/02/2018 0.071 0.035 0.045 0.040 7036WC BORNOIL-WC 0.040 -0.005 1621.4 0.095 0.070 15.79 08/11/2025 0.065 0.040 0.050 0.045 7036WD BORNOIL-WD 0.050 0.005 594.7 0.095 0.070 26.32 29/05/2027 0.115 0.029 0.110 0.105 9938WB BRIGHT-WB 0.105 Unch 1192.5 0.285 0.650 164.91 12/01/2019 0.070 0.015 0.055 0.055 2771CL BSTEAD-CL 0.055 0.005 50 3.020 3.000 3.89 30/11/2017 0.435 0.060 0.205 0.205 181811 BURSA-C11 0.205 Unch 219 9.990 8.900 -0.65 30/11/2017 0.315 0.030 0.035 0.030 181812 BURSA-C12 0.035 Unch 123 9.990 10.50 6.68 30/11/2017 0.150 0.050 0.060 0.055 181813 BURSA-C13 0.055 Unch 56.5 9.990 10.50 7.86 30/03/2018 0.115 0.100 0.100 0.100 181814 BURSA-C14 0.100 Unch 100 9.990 10.00 6.11 29/06/2018 0.150 0.025 0.025 0.025 181801 BURSA-MC01 0.025 Unch 0.1 9.990 11.00 11.61 14/12/2017 0.900 0.303 0.835 0.820 7174WA CAB-WA 0.830 Unch 242.7 1.010 0.170 -0.99 08/02/2020 0.090 0.045 0.045 0.045 7076CF CBIP-CF 0.045 -0.005 56 1.930 2.200 18.65 26/02/2018 0.470 0.290 0.360 0.335 7076WA CBIP-WA 0.340 -0.020 19 1.930 2.400 41.97 06/11/2019 0.220 0.045 0.130 0.120 5195WB CENSOF-WB 0.125 0.005 1531 0.295 0.460 98.31 07/10/2019 0.310 0.015 — — 102321 CIMB-C21 0.015 — — 4.635 6.200 34.90 31/10/2017 0.335 0.110 0.130 0.115 102322 CIMB-C22 0.130 0.010 537.7 6.140 5.700 1.30 24/11/2017 0.175 0.070 0.075 0.075 102323 CIMB-C23 0.075 0.005 950 6.140 6.500 12.58 02/02/2018 0.155 0.025 0.030 0.025 102324 CIMB-C24 0.030 0.005 1760 6.140 7.000 15.96 28/12/2017 0.210 0.070 0.070 0.070 102325 CIMB-C25 0.070 Unch 50 6.140 7.000 18.00 12/02/2018 0.165 0.095 — — 102326 CIMB-C26 0.095 — — 6.140 6.880 19.79 26/04/2018 0.110 0.020 0.030 0.025 102327 CIMB-C27 0.030 0.005 3191.6 6.140 7.700 27.36 19/03/2018 0.240 0.190 0.205 0.205 102328 CIMB-C28 0.205 Unch 35 6.140 6.000 11.07 30/04/2018 0.035 0.020 — — 2852C7 CMSB-C7 0.020 — — 3.700 5.000 37.84 30/11/2017 0.205 0.045 0.110 0.110 0102WA CONNECT-WA 0.110 Unch 20 0.200 0.100 5.00 17/09/2021 0.205 0.045 — — 0102WB CONNECT-WB 0.115 — — 0.200 0.100 7.50 07/06/2021 0.250 0.025 0.210 0.185 0051WA CUSCAPI-WA 0.195 -0.015 19106.2 0.405 0.270 14.81 24/04/2018 0.470 0.280 0.300 0.290 5276WA DANCO-WA 0.290 Unch 120 0.510 0.300 15.69 22/05/2022 0.035 0.005 0.020 0.015 7179WB DBE-WB 0.015 Unch 758.5 0.035 0.050 85.71 22/01/2022 0.030 0.005 0.020 0.020 0152WA DGB-WA 0.020 Unch 250 0.090 0.110 44.44 22/04/2018 0.180 0.085 0.155 0.155 727716 DIALOG-C16 0.155 -0.005 360 2.260 1.950 0.00 24/11/2017 0.425 0.105 0.385 0.370 727717 DIALOG-C17 0.375 Unch 350 2.260 1.900 0.66 02/02/2018 0.110 0.055 0.095 0.095 727718 DIALOG-C18 0.095 0.005 63.5 2.260 2.300 11.44 30/03/2018 0.130 0.105 — — 727719 DIALOG-C19 0.120 — — 2.260 2.080 7.96 29/06/2018 0.180 0.095 — — 727701 DIALOG-MC01 0.175 — — 2.260 1.950 1.77 14/12/2017 0.100 0.015 0.045 0.045 694719 DIGI-C19 0.045 0.005 16 5.000 5.100 3.80 02/02/2018 0.075 0.025 — — 694720 DIGI-C20 0.030 — — 5.000 5.200 5.80 22/12/2017 0.130 0.130 — — 694721 DIGI-C21 0.130 — — 5.000 5.000 3.90 31/07/2018 0.165 0.050 0.085 0.080 0029WB DIGISTA-WB 0.085 Unch 100.1 0.145 0.260 137.93 04/04/2023 0.370 0.045 0.235 0.220 4456WD DNEX-WD 0.220 0.005 47237 0.485 0.500 48.45 30/07/2021 0.280 0.060 0.210 0.200 7114WA DNONCE-WA 0.205 -0.005 1830 0.370 0.250 22.97 25/11/2020 0.145 0.055 0.075 0.065 5265WA DOLPHIN-WA 0.070 0.010 1543.1 0.225 0.800 286.67 29/03/2021 0.340 0.180 — — 7169WA DOMINAN-WA 0.295 — — 1.320 1.300 20.83 10/09/2020 0.070 0.035 0.045 0.045 7198WB DPS-WB 0.045 Unch 95 0.090 0.100 61.11 15/01/2025 0.380 0.115 0.325 0.310 161930 DRBHCOMC30 0.310 -0.005 56.4 1.700 1.100 1.18 30/11/2017 0.125 0.040 0.065 0.055 161937 DRBHCOMC37 0.055 -0.010 1456 1.700 1.850 15.29 30/03/2018 0.050 0.030 0.030 0.030 161941 DRBHCOMC41 0.030 Unch 331 1.700 2.150 31.76 30/03/2018 0.140 0.095 0.120 0.115 161942 DRBHCOMC42 0.115 -0.005 157.5 1.700 1.650 10.59 31/05/2018 0.125 0.090 0.105 0.100 161943 DRBHCOMC43 0.100 -0.010 1706 1.700 1.600 11.76 30/03/2018 0.115 0.090 — — 161944 DRBHCOMC44 0.095 — — 1.700 2.000 28.82 09/04/2018 0.120 0.075 — — 5216C1 DSONIC-C1 0.105 — — 1.230 1.150 10.57 19/04/2018 0.105 0.085 0.105 0.095 5216C2 DSONIC-C2 0.105 0.020 70 1.230 1.180 13.01 29/06/2018 0.080 0.070 0.080 0.080 5216C3 DSONIC-C3 0.080 0.005 81 1.230 1.280 17.07 29/06/2018 0.135 0.025 — — 5216CV DSONIC-CV 0.035 — — 1.230 1.300 11.38 31/10/2017 0.080 0.005 — — 5216CW DSONIC-CW 0.005 — — 1.230 1.400 14.84 31/10/2017 0.080 0.040 0.055 0.055 5216CX DSONIC-CX 0.055 0.005 56 1.230 1.250 12.80 30/01/2018 0.080 0.040 0.060 0.060 5216CY DSONIC-CY 0.060 0.005 1200 1.230 1.300 15.45 30/03/2018 0.055 0.030 0.045 0.045 5216CZ DSONIC-CZ 0.045 0.005 16 1.230 1.380 19.51 30/03/2018 0.320 0.120 0.150 0.145 3417WB E&O-WB 0.150 Unch 61.7 1.540 2.600 78.57 21/07/2019 0.033 0.010 0.025 0.025 0154WB EAH-WB 0.025 Unch 15.5 0.045 0.120 222.22 24/02/2019 0.033 0.013 0.030 0.030 0154WC EAH-WC 0.030 0.005 2509.1 0.045 0.100 188.89 18/06/2019 0.195 0.095 0.145 0.130 3557WC ECOFIRS-WC 0.135 -0.005 478.8 0.310 0.300 40.32 10/09/2019 0.250 0.080 0.220 0.220 5253CA ECONBHD-CA 0.220 -0.005 270 3.110 2.500 1.61 30/11/2017 0.290 0.160 0.285 0.285 5253CB ECONBHD-CB 0.285 -0.005 10 3.110 2.400 4.66 28/02/2018 0.155 0.105 0.130 0.130 5253CE ECONBHD-CE 0.130 -0.010 15 3.110 2.900 9.97 30/04/2018 0.185 0.125 0.150 0.150 5253CF ECONBHD-CF 0.150 -0.005 725 3.110 2.950 9.32 22/03/2018 0.190 0.045 0.045 0.045 8206CF ECOWLD-CF 0.045 -0.010 0.1 1.550 1.600 7.58 02/02/2018 0.170 0.045 0.050 0.050 8206CG ECOWLD-CG 0.050 Unch 355 1.550 1.500 3.23 30/11/2017 0.175 0.040 0.040 0.040 8206CH ECOWLD-CH 0.040 -0.005 20 1.550 1.600 7.10 08/12/2017 0.710 0.365 0.440 0.435 8206WA ECOWLD-WA 0.440 -0.005 92.5 1.550 2.080 62.58 26/03/2022 0.095 0.040 0.055 0.045 0107WA EDUSPEC-WA 0.050 0.005 7033.6 0.135 0.180 70.37 24/12/2018 1.200 0.360 1.180 1.140 0065WA EFORCE-WA 1.170 0.020 695.6 1.500 0.340 0.67 17/07/2019 0.557 0.283 0.470 0.460 8907WC EG-WC 0.465 Unch 870.9 0.755 0.500 27.81 03/11/2020 0.030 0.005 0.020 0.015 7182WA EKA-WA 0.020 -0.005 2245.5 0.090 0.200 144.44 22/01/2019 0.060 0.005 0.005 0.005 5283CE EWINT-CE 0.005 Unch 343 1.050 1.350 29.76 30/11/2017 0.450 0.240 0.250 0.245 5283WA EWINT-WA 0.250 Unch 73.1 1.050 1.450 61.90 02/04/2022 0.570 0.145 0.470 0.455 7047WB FAJAR-WB 0.465 Unch 1460.1 0.905 0.700 28.73 24/09/2019 0.580 0.190 0.190 0.190 06501Z FBMKLCI-C1Z 0.190 -0.090 10 1,747 1,740 1.72 30/11/2017 0.095 0.010 0.030 0.025 06503E FBMKLCI-C3E 0.025 -0.005 53 1,242 1,770 43.46 28/02/2018 0.050 0.025 0.025 0.025 06503F FBMKLCI-C3F 0.025 Unch 50 1,242 1,780 44.24 30/03/2018 0.060 0.050 0.055 0.055 06503I FBMKLCI-C3I 0.055 -0.005 30 1,747 1,755 1.98 30/04/2018 0.160 0.020 0.025 0.025 06502Z FBMKLCI-H2Z 0.025 -0.005 50 1,747 1,765 1.98 30/11/2017 0.120 0.050 0.080 0.075 06504C FBMKLCI-H4C 0.080 0.010 200 1,747 1,785 5.33 29/12/2017 0.135 0.075 0.095 0.095 06504D FBMKLCI-H4D 0.095 -0.005 50 1,747 1,800 6.79 31/01/2018 0.345 0.290 0.290 0.290 06504E FBMKLCI-H4E 0.290 -0.015 500 1,747 1,720 1.72 28/02/2018 0.195 0.145 0.155 0.145 06504H FBMKLCI-H4H 0.155 0.005 1940 1,747 1,780 6.27 30/03/2018 0.155 0.025 0.040 0.035 522228 FGV-C28 0.040 Unch 4124.2 1.910 2.050 12.57 02/02/2018 0.195 0.095 0.145 0.140 522230 FGV-C30 0.145 0.005 1260 1.910 1.600 5.03 28/12/2017 0.150 0.085 0.150 0.140 522231 FGV-C31 0.145 Unch 4158.3 1.910 1.630 4.32 30/03/2018 0.100 0.065 0.100 0.100 522234 FGV-C34 0.100 0.015 100 1.910 1.880 14.14 30/03/2018 0.065 0.045 0.060 0.055 522236 FGV-C36 0.060 -0.005 5208.5 1.910 2.300 29.84 26/02/2018 0.110 0.065 0.110 0.100 522237 FGV-C37 0.105 Unch 11982 1.910 1.900 12.12 30/01/2018 0.130 0.090 0.130 0.130 522238 FGV-C38 0.130 0.010 300 1.910 1.850 13.87 19/04/2018 0.205 0.175 0.205 0.200 522239 FGV-C39 0.200 0.005 230 1.910 1.750 9.95 31/07/2018 0.130 0.065 0.090 0.080 9318WB FITTERS-WB 0.080 -0.005 159 0.405 1.000 166.67 12/10/2019 0.425 0.030 0.365 0.355 0116WC FOCUS-WC 0.360 Unch 5135.3 0.425 0.050 -3.53 06/11/2019 0.740 0.230 0.500 0.490 9261WB GADANG-WB 0.490 -0.010 869.8 0.490 1.060 216.33 29/11/2021 0.045 0.040 0.040 0.040 539838 GAMUDA-C38 0.040 Unch 11 5.250 5.680 12.76 30/04/2018 0.110 0.045 0.075 0.075 539839 GAMUDA-C39 0.075 0.005 354 5.250 5.350 6.19 31/05/2018 1.480 1.140 1.290 1.250 5398WE GAMUDA-WE 1.250 -0.040 523.6 5.250 4.050 0.95 06/03/2021 0.630 0.120 0.630 0.580 5226WA GBGAQRS-WA 0.630 0.050 18357.4 1.960 1.300 -1.53 20/07/2018 0.490 0.300 0.400 0.400 3611WA GBH-WA 0.400 Unch 51 1.400 1.000 0.00 07/04/2020 0.125 0.050 0.065 0.060 0078CF GDEX-CF 0.060 0.005 1470 0.665 0.650 11.28 02/02/2018 0.075 0.040 0.045 0.045 0078CH GDEX-CH 0.045 Unch 1500 0.665 0.780 27.44 28/02/2018 0.572 0.410 0.455 0.440 0078WB GDEX-WB 0.440 -0.010 287.3 0.665 0.383 23.68 05/02/2020 0.300 0.025 0.030 0.025 471524 GENM-C24 0.025 -0.005 420 5.030 5.500 11.08 29/12/2017 0.180 0.030 0.035 0.030 471526 GENM-C26 0.035 Unch 2645 5.030 5.900 20.43 02/02/2018

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


0.165 0.035 0.035 0.035 471528 GENM-C28 0.035 -0.005 1240.8 5.030 6.300 27.75 28/02/2018 3.850 2.580 2.780 2.780 2291WA GENP-WA 2.780 -0.060 3 10.680 7.750 -1.40 17/06/2019 0.180 0.020 0.025 0.020 318242 GENTINGC42 0.025 0.005 713 9.050 9.500 6.63 29/12/2017 0.100 0.080 0.085 0.080 318246 GENTINGC46 0.080 -0.005 161 9.050 9.850 13.26 31/07/2018 1.950 1.240 1.550 1.500 3182WA GENTING-WA 1.520 -0.030 1507 9.050 7.960 4.75 18/12/2018 0.155 0.090 0.135 0.135 3204CA GKENT-CA 0.135 -0.005 132.6 3.240 2.880 9.72 31/05/2018 0.090 0.080 0.090 0.090 3204CD GKENT-CD 0.090 0.005 284 3.240 3.700 25.31 31/05/2018 0.230 0.070 0.135 0.125 1147WA GOB-WA 0.135 Unch 101.1 0.375 0.800 149.33 24/12/2019 0.055 0.025 0.050 0.045 7096WA GPA-WA 0.045 -0.005 4465 0.120 0.100 20.83 03/06/2025 0.275 0.095 0.165 0.165 7676WB GUNUNG-WB 0.165 0.005 50 0.420 0.400 34.52 02/10/2020 0.285 0.110 0.255 0.255 7668CA HAIO-CA 0.255 0.040 10 5.450 4.380 3.76 31/05/2018 0.220 0.195 0.220 0.220 7668CB HAIO-CB 0.220 0.025 100 5.450 4.680 6.06 31/05/2018 0.195 0.140 0.155 0.155 7668CD HAIO-CD 0.155 0.015 10 5.450 5.500 12.29 30/04/2018 0.130 0.085 0.100 0.090 3034CV HAPSENG-CV 0.100 0.005 345.2 9.280 9.000 2.37 30/04/2018 0.380 0.190 0.275 0.225 2062WC HARBOUR-WC 0.275 0.025 35 0.710 1.560 158.45 03/04/2021 0.220 0.180 0.200 0.190 5168C2 HARTA-C2 0.200 0.005 850 7.620 7.450 13.52 21/06/2018 0.170 0.070 0.145 0.145 5168CZ HARTA-CZ 0.145 Unch 18 7.620 7.500 8.89 12/02/2018 0.560 0.450 0.460 0.460 7105WA HCK-WA 0.460 -0.035 10 1.380 0.960 2.90 26/09/2027 0.745 0.310 0.470 0.430 4324CA HENGYUAN-CA 0.455 0.025 727.9 8.470 6.000 13.81 22/02/2018 0.470 0.270 0.340 0.330 4324CB HENGYUAN-CB 0.340 0.020 100 8.470 8.800 27.98 28/02/2018 0.430 0.255 0.355 0.340 4324CD HENGYUAN-CD 0.340 0.010 1017.9 8.470 7.000 14.76 19/03/2018 0.410 0.170 0.220 0.210 4324CE HENGYUAN-CE 0.210 Unch 635 8.470 8.800 26.21 19/03/2018 0.310 0.175 0.210 0.200 4324CF HENGYUAN-CF 0.200 0.010 1593 8.470 8.880 28.45 22/03/2018 0.230 0.125 0.220 0.195 4324CH HENGYUAN-CH 0.205 0.010 7742.8 8.470 8.000 23.49 29/06/2018 0.225 0.075 0.195 0.185 5072WB HIAPTEK-WB 0.185 -0.005 2197.4 0.425 0.500 61.18 23/06/2021 0.385 0.265 0.295 0.290 5160WA HOMERIZ-WA 0.295 0.005 105 0.970 0.920 25.26 09/07/2020 0.225 0.115 0.190 0.185 7213WB HOVID-WB 0.190 Unch 4465.5 0.365 0.180 1.37 05/06/2018 0.105 0.020 0.100 0.095 7013WB HUBLINE-WB 0.095 -0.005 840 0.180 0.200 63.89 20/12/2020 0.045 0.015 0.030 0.025 9601WD HWGB-WD 0.030 Unch 20.1 0.055 0.080 100.00 15/03/2021 0.235 0.135 0.160 0.160 4251WA IBHD-WA 0.160 -0.015 12 0.580 1.410 170.69 08/10/2019 0.055 0.015 0.035 0.035 0174WA IDMENSN-WA 0.035 Unch 39 0.075 0.100 80.00 14/07/2020 0.105 0.085 0.100 0.085 333611 IJM-C11 0.085 -0.020 204 3.190 3.300 8.11 31/07/2018 0.195 0.010 0.010 0.010 3336C5 IJM-C5 0.010 -0.005 100 1.090 3.500 222.48 29/12/2017 0.055 0.030 0.030 0.030 3336C8 IJM-C8 0.030 -0.010 20 3.190 3.580 15.99 30/04/2018 0.050 0.020 0.020 0.020 3336C9 IJM-C9 0.020 -0.005 30 3.190 3.780 21.00 30/04/2018 0.355 0.075 0.345 0.330 0166C2 INARI-C2 0.335 -0.010 129 2.810 2.150 0.36 08/12/2017 0.185 0.080 0.175 0.165 0166C3 INARI-C3 0.165 -0.010 1583.9 2.810 2.600 6.03 30/01/2018 0.265 0.095 0.265 0.265 0166C6 INARI-C6 0.265 Unch 5 2.810 2.400 4.27 30/04/2018 0.085 0.080 0.085 0.080 0166C7 INARI-C7 0.085 Unch 2324 2.810 3.500 33.63 14/05/2018 0.690 0.165 0.690 0.665 0166CZ INARI-CZ 0.665 -0.025 1987.1 2.810 1.800 -0.44 29/12/2017 0.350 0.175 0.345 0.340 16601 INARI-MC01 0.345 -0.005 740 2.810 2.150 1.07 14/12/2017 2.050 1.300 2.030 2.000 0166WB INARI-WB 2.010 -0.020 54 2.810 0.800 0.00 17/02/2020 0.050 0.015 0.040 0.040 0094WA INIX-WA 0.040 Unch 130 0.075 0.100 86.67 16/11/2020 0.545 0.160 0.385 0.380 3379WB INSAS-WB 0.380 Unch 793 0.985 1.000 40.10 25/02/2020 0.115 0.115 0.115 0.115 196115 IOICORP-C15 0.115 -0.035 50 4.460 4.550 7.82 31/07/2018 0.070 0.025 0.055 0.050 0024WA JAG-WA 0.055 Unch 711.7 0.145 0.100 6.90 14/08/2019 0.075 0.045 0.055 0.045 5161C4 JCY-C4 0.055 0.005 2154.2 0.540 0.600 21.30 30/04/2018 0.110 0.060 0.075 0.075 8923WA JIANKUN-WA 0.075 Unch 20 0.270 0.320 46.30 23/12/2021 0.830 0.205 0.480 0.445 7167WA JOHOTIN-WA 0.470 0.015 1483.4 1.390 0.850 -5.04 21/11/2017 0.150 0.025 0.050 0.040 4383CO JTIASA-CO 0.040 -0.005 1497.6 1.170 1.200 9.40 08/01/2018 0.105 0.050 0.095 0.085 4383CP JTIASA-CP 0.085 -0.005 200.2 1.170 1.150 9.19 30/01/2018 0.225 0.110 0.130 0.130 0170WA KANGER-WA 0.130 Unch 20 0.220 0.100 4.55 13/04/2020 0.105 0.015 0.025 0.020 5247C1 KAREX-C1 0.025 -0.005 145.6 1.640 1.950 23.48 28/12/2017 0.155 0.070 0.140 0.140 5247C4 KAREX-C4 0.140 0.005 50 1.640 1.550 7.32 30/04/2018 0.180 0.135 0.165 0.165 5247C6 KAREX-C6 0.165 Unch 20 1.640 1.500 11.59 19/04/2018 0.200 0.005 0.010 0.010 5247CZ KAREX-CZ 0.010 Unch 20 1.640 2.200 35.37 02/02/2018 0.035 0.010 0.020 0.020 3115WC KBUNAI-WC 0.020 Unch 40 0.070 0.131 115.71 20/10/2023 0.175 0.070 0.155 0.155 7161CB KERJAYA-CB 0.155 0.005 50 3.920 3.350 3.25 30/11/2017 0.220 0.120 0.195 0.195 7161CD KERJAYA-CD 0.195 0.010 310 3.920 3.400 4.15 25/01/2018 0.240 0.155 0.240 0.235 7161CE KERJAYA-CE 0.235 0.015 225 3.920 3.600 9.82 22/02/2018 0.130 0.110 0.120 0.120 7161CF KERJAYA-CF 0.120 0.005 50 3.920 4.300 21.94 09/04/2018 0.490 0.075 0.410 0.380 0151WA KGB-WA 0.380 -0.010 878.4 0.665 0.500 32.33 12/06/2019 0.140 0.010 0.035 0.035 0036WA KGROUP-WA 0.035 Unch 539.3 0.165 0.400 163.64 02/07/2018 0.120 0.035 0.055 0.050 0036WB KGROUP-WB 0.050 Unch 3013.8 0.165 0.200 51.52 01/05/2020 0.815 0.600 0.630 0.610 5171WA KIMLUN-WA 0.630 0.005 29.6 2.310 1.680 0.00 12/03/2024 0.135 0.065 0.070 0.065 7164WB KNM-WB 0.070 Unch 959.3 0.280 1.000 282.14 21/04/2020 0.135 0.070 0.100 0.095 7017WB KOMARK-WB 0.095 -0.005 844.5 0.280 0.300 41.07 21/01/2020 0.085 0.065 0.075 0.075 7153CV KOSSAN-CV 0.075 -0.005 57.3 7.220 7.700 13.92 19/03/2018 0.430 0.103 0.300 0.300 5878WB KPJ-WB 0.300 Unch 39.7 1.020 1.010 28.43 23/01/2019 0.085 0.010 0.085 0.060 3794CC LAFMSIA-CC 0.070 0.005 2201.7 6.960 7.000 5.60 02/02/2018 0.700 0.450 0.675 0.675 9385WA LAYHONG-WA 0.675 Unch 10 1.020 0.400 5.39 13/10/2021 1.090 0.620 0.955 0.955 5789WA LBS-WA 0.955 Unch 16.5 1.920 1.000 1.82 11/06/2018 0.835 0.390 0.720 0.705 5789WB LBS-WB 0.705 -0.005 359.8 1.920 1.250 1.82 04/10/2020 0.110 0.015 0.030 0.030 5284CA LCTITAN-CA 0.030 -0.010 1762.1 5.280 6.800 31.06 12/02/2018 0.080 0.010 0.010 0.010 5284CB LCTITAN-CB 0.010 Unch 55 3.460 7.800 126.59 12/02/2018 0.265 0.035 0.080 0.080 5284CD LCTITAN-CD 0.080 -0.005 211.4 5.280 6.500 27.65 30/01/2018 0.465 0.100 0.190 0.180 5284CE LCTITAN-CE 0.185 -0.010 316.1 5.280 5.500 14.68 30/01/2018 0.120 0.015 0.035 0.035 5284CF LCTITAN-CF 0.035 -0.005 1050 5.280 6.280 23.58 30/01/2018 0.095 0.020 0.045 0.045 5284CG LCTITAN-CG 0.045 -0.005 576.6 5.280 6.500 28.22 30/04/2018 0.250 0.150 0.170 0.160 7126WA LONBISC-WA 0.160 -0.010 11.4 0.725 1.000 60.00 26/01/2020 0.095 0.020 0.060 0.060 5068WA LUSTER-WA 0.060 Unch 38 0.130 0.100 23.08 03/06/2022 0.095 0.020 0.060 0.060 5068WB LUSTER-WB 0.060 Unch 950 0.130 0.100 23.08 26/05/2023 0.080 0.015 0.075 0.065 0017WA M3TECH-WA 0.075 0.005 21073.2 0.150 0.100 16.67 21/08/2019 0.750 0.285 0.500 0.500 7617WB MAGNA-WB 0.500 -0.030 4 1.340 0.900 4.48 04/09/2020 0.240 0.050 0.100 0.100 8583WB MAHSING-WB 0.100 -0.005 1730.7 1.540 1.440 0.00 16/03/2018 0.170 0.085 0.135 0.120 8583WC MAHSING-WC 0.125 Unch 99.4 1.540 2.100 44.48 21/02/2020 0.160 0.065 0.070 0.065 5264C2 MALAKOF-C2 0.070 0.005 760 1.030 1.050 8.74 30/04/2018 0.090 0.050 0.050 0.050 5264C3 MALAKOF-C3 0.050 -0.005 300 1.030 1.000 6.80 19/03/2018 0.090 0.080 0.080 0.080 5264C4 MALAKOF-C4 0.080 -0.005 550 1.030 0.950 7.77 19/04/2018 0.085 0.065 0.065 0.065 5264C5 MALAKOF-C5 0.065 Unch 250 1.030 1.150 21.12 29/06/2018 0.990 0.095 0.440 0.430 6181WB MALTON-WB 0.435 0.010 4095.9 1.240 1.000 15.73 29/06/2018 0.125 0.115 0.120 0.120 5236CI MATRIX-CI 0.120 -0.005 8.8 2.250 2.240 10.22 22/03/2018 0.500 0.278 0.360 0.350 5236WA MATRIX-WA 0.360 -0.005 109.4 2.250 2.400 22.67 20/07/2020 0.180 0.120 0.180 0.180 6012C3 MAXIS-C3 0.180 0.030 0.6 5.950 5.600 1.68 30/04/2018 0.190 0.050 0.060 0.060 115531 MAYBANKC31 0.060 -0.005 1568 9.250 9.500 4.65 28/02/2018 0.705 0.380 0.645 0.630 5152WA MBL-WA 0.640 -0.010 1522.9 1.380 0.800 4.35 28/11/2022 0.125 0.005 0.005 0.005 1171C1 MBSB-C1 0.005 -0.010 20 0.370 1.300 254.05 24/11/2017 0.230 0.020 0.025 0.025 1171C2 MBSB-C2 0.025 Unch 48 1.110 1.300 19.37 02/02/2018 0.105 0.025 0.035 0.030 1171C3 MBSB-C3 0.030 -0.005 3406.1 1.110 1.350 27.03 28/02/2018 0.040 0.040 0.040 0.040 1171C6 MBSB-C6 0.040 Unch 160 1.110 1.400 33.33 14/05/2018 0.260 0.040 0.085 0.085 0167WB MCLEAN-WB 0.085 -0.025 12.8 0.200 0.250 67.50 07/10/2020 0.085 0.025 0.035 0.035 5040WB MEDAINC-WB 0.035 Unch 70 0.405 0.800 106.17 22/04/2022 0.065 0.025 0.035 0.035 5040WC MEDAINC-WC 0.035 -0.010 7 0.405 0.800 106.17 24/08/2024 0.065 0.020 0.035 0.035 4502CJ MEDIA-CJ 0.035 Unch 2230 0.835 1.000 28.14 25/01/2018 0.100 0.015 0.030 0.030 4502CK MEDIA-CK 0.030 Unch 429 0.835 1.000 26.95 28/02/2018 0.365 0.140 0.200 0.200 1694WB MENANG-WB 0.200 Unch 116.9 0.905 1.000 32.60 09/07/2019 0.515 0.095 0.470 0.440 0075WA MEXTER-WA 0.455 -0.010 899.4 0.580 0.130 0.86 17/09/2018 2.330 0.600 1.810 1.800 3069WA MFCB-WA 1.810 0.010 134.5 3.510 2.220 14.81 08/04/2020 0.090 0.015 0.050 0.035 5186C3 MHB-C3 0.045 0.010 9239 0.820 0.900 20.73 25/01/2018 0.075 0.055 0.075 0.055 5186C5 MHB-C5 0.065 Unch 4982.2 0.820 0.900 25.61 14/05/2018 0.070 0.020 0.055 0.050 7219WA MINETEC-WA 0.050 -0.005 465 0.140 0.150 42.86 27/11/2019 0.270 0.150 0.185 0.160 5576WC MINHO-WC 0.185 -0.005 4.1 0.495 0.500 38.38 02/08/2021 0.115 0.025 0.025 0.025 381612 MISC-C12 0.025 Unch 220 6.950 7.500 8.99 30/03/2018 0.600 0.265 0.290 0.290 9571WD MITRA-WD 0.290 Unch 106 0.940 1.090 46.81 23/08/2020 1.060 0.505 0.530 0.505 6114WB MKH-WB 0.510 -0.025 421.2 2.070 1.550 -0.48 29/12/2017 0.105 0.016 0.055 0.045 0085WA MLAB-WA 0.050 Unch 2838.3 0.100 0.090 40.00 24/04/2020 0.070 0.035 0.045 0.035 0085WB MLAB-WB 0.040 Unch 22367.9 0.100 0.150 90.00 10/09/2020 0.895 0.320 0.895 0.885 7595WA MLGLOBAL-WA 0.890 0.005 131.5 1.470 0.500 -5.44 27/10/2019 0.115 0.010 0.030 0.015 2194C6 MMCCORP-C6 0.025 0.010 11245.4 1.990 2.450 25.63 30/04/2018 0.025 0.015 0.025 0.020 2194C7 MMCCORP-C7 0.025 0.010 314.4 1.990 2.600 33.79 26/02/2018 0.110 0.055 0.110 0.065 2194C8 MMCCORP-C8 0.110 0.050 2527.1 1.990 2.000 8.79 31/07/2018 0.055 0.020 0.045 0.040 0103WA MNC-WA 0.040 Unch 1800 0.095 0.100 47.37 05/11/2021 0.070 0.020 0.040 0.035 0070WA MQTECH-WA 0.040 0.005 1470.1 0.070 0.100 100.00 21/11/2021 0.110 0.015 0.030 0.030 165118 MRCB-C18 0.030 -0.005 360 1.060 1.484 44.89 28/02/2018 0.070 0.010 0.060 0.045 165121 MRCB-C21 0.050 -0.010 3807.2 1.060 1.222 21.43 30/04/2018 0.100 0.040 0.090 0.075 165123 MRCB-C23 0.075 -0.020 310 1.060 1.134 19.37 19/03/2018 0.120 0.055 0.105 0.095 165124 MRCB-C24 0.095 -0.015 964 1.060 1.047 17.56 30/03/2018 0.055 0.020 0.050 0.050 165125 MRCB-C25 0.050 -0.005 100 1.060 1.309 33.37 30/03/2018 0.180 0.050 0.150 0.125 165126 MRCB-C26 0.130 -0.040 1610.3 1.060 1.056 12.99 29/06/2018 0.125 0.043 0.090 0.075 1651WA MRCB-WA 0.075 -0.010 8719.4 1.060 2.300 124.06 14/09/2018 0.193 0.026 0.080 0.070 0092WB MTOUCHE-WB 0.075 0.005 539.9 0.195 0.540 215.38 16/03/2020 0.370 0.105 0.235 0.230 5703CD MUHIBAH-CD 0.235 -0.020 5 2.850 2.600 2.22 29/12/2017 0.255 0.060 0.135 0.125 13816 MYEG-C16 0.125 -0.010 6730.3 2.190 2.000 2.74 02/02/2018 0.170 0.015 0.035 0.030 13817 MYEG-C17 0.030 -0.005 885.5 2.190 2.300 8.45 30/11/2017 0.070 0.040 0.055 0.055 13821 MYEG-C21 0.055 0.010 20 2.190 2.280 14.16 30/03/2018 0.065 0.045 0.060 0.060 13822 MYEG-C22 0.060 -0.005 200 2.190 2.400 17.81 30/03/2018 0.060 0.035 0.045 0.045 13823 MYEG-C23 0.045 Unch 400 2.190 2.700 29.45 26/02/2018 0.120 0.065 0.110 0.100 13824 MYEG-C24 0.105 -0.005 5064 2.190 2.100 8.36 28/02/2018 0.155 0.095 0.150 0.140 13825 MYEG-C25 0.145 -0.010 545.1 2.190 2.000 6.22 29/06/2018 0.215 0.175 0.210 0.210 13826 MYEG-C26 0.210 -0.005 37.5 2.190 1.700 6.39 29/06/2018 0.750 0.220 0.710 0.680 0108WA N2N-WA 0.710 0.020 78.1 1.080 0.320 -4.63 06/04/2018 0.065 0.005 0.035 0.030 0020WB NETX-WB 0.035 Unch 1149.3 0.050 0.050 70.00 08/06/2019 0.030 0.015 0.020 0.020 0096WA NEXGRAM-WA 0.020 Unch 827.4 0.035 0.100 242.86 16/05/2022 0.035 0.015 0.025 0.025 0096WC NEXGRAM-WC 0.025 0.005 3.2 0.035 0.100 257.14 15/01/2024 0.100 0.030 0.075 0.065 7215WA NIHSIN-WA 0.075 0.010 8338.2 0.300 0.200 -8.33 11/02/2018 0.415 0.190 0.280 0.270 0172WA OCK-WA 0.270 -0.005 204.5 0.890 0.710 10.11 15/12/2020 0.255 0.060 0.130 0.125 7071WC OCR-WC 0.130 0.005 268.1 0.550 0.500 14.55 24/07/2021 0.280 0.045 0.065 0.060 9008WB OMESTI-WB 0.065 0.005 71.1 0.470 0.500 20.21 30/05/2018 0.370 0.195 0.280 0.265 5053WC OSK-WC 0.280 Unch 94 1.580 1.800 31.65 22/07/2020 0.540 0.180 0.540 0.540 7052CK PADINI-CK 0.540 0.050 7 4.720 3.200 2.12 28/02/2018 0.335 0.235 0.315 0.310 7052CL PADINI-CL 0.310 0.005 50 4.720 3.670 4.03 26/02/2018 0.180 0.105 0.165 0.160 7052CN PADINI-CN 0.160 0.005 470 4.720 4.500 8.90 29/06/2018 0.100 0.095 0.100 0.100 7052CP PADINI-CP 0.100 Unch 30 4.720 4.880 22.46 31/07/2018 0.405 0.025 0.370 0.350 0005WA PALETTE-WA 0.360 Unch 3626.1 0.420 0.040 -4.76 20/03/2018 0.300 0.080 0.225 0.215 5125WA PANTECH-WA 0.225 0.010 793.6 0.690 0.500 5.07 21/12/2020 0.300 0.105 0.240 0.230 5125WB PANTECH-WB 0.240 Unch 748.1 0.690 0.500 7.25 21/12/2021 0.270 0.130 0.145 0.130 5022WA PAOS-WA 0.145 Unch 5.5 0.500 0.500 29.00 14/12/2021 0.110 0.080 0.080 0.080 129516 PBBANK-C16 0.080 Unch 8 20.460 20.80 4.79 30/04/2018 0.210 0.150 0.170 0.160 518313 PCHEM-C13 0.170 -0.020 77.5 7.370 7.000 3.05 31/05/2018 0.290 0.200 0.225 0.215 9997WB PENSONI-WB 0.225 -0.005 104.6 0.635 0.600 29.92 20/01/2024 0.485 0.220 0.330 0.330 8311WC PESONA-WC 0.330 -0.005 58.9 0.560 0.250 3.57 27/01/2020 0.460 0.180 0.360 0.340 3042CD PETRONM-CD 0.350 0.015 301 11.700 8.500 8.55 22/02/2018

Main Market & Ace Market Warrants

MarketsG L O B A L M A R K E T S . B U R S A M A L A Y S I A E Q U I T Y D E R I V A T I V E S

WEDNESDAY NOVEMBER 1, 2017 • THEED G E FINANCIAL DAILY 2 9

Please refer to the Bursa Malaysia website for the prices of loan stocks, bonds and overseas structure warrants

Australia/New Zealand — Australian shares end lower but see best month of 2017; NZ at record high

SYDNEY: Australian shares relinquished early gains to end lower yesterday, as materials stocks took a slow down in China’s manufacturing sector as a sign of cooling demand in the world’s second-largest economy. China, which is among the largest markets for raw materials from Australia, saw factory activity cool more than expected in October in the face of a weakening property market and tighter pollution rules that are forcing many steels mills, smelters and factories to curtail output over the winter. The S&P/ASX 200 Index fell 0.17% to 5,909.017 points at the close of trade. It rose 0.27% on Monday, and gained about 4% in October, its best month in 2017 and is hovering near six-month highs. Financials stocks also dipped in line with their peers in the US, with the Australian fi nancial index ending 0.58% lower. Wall Street pulled back from record-high territory on Monday as investors assessed US President Donald Trump’s plan for corporate tax cuts. The “big four” banks in Australia all ended lower, with Westpac Banking Corp serving as the biggest drag on the fi nancial index. The Australian corporate regulator accused Westpac of playing a leading role in the widespread manipulation of an

important fi nancial trading rate as it took the country’s No 2 lender to court yesterday. On the other hand, consumer staples stocks ranked among the gainers on the benchmark index, with wholesaler Metcash Ltd ending about 1.5% higher. Energy stocks were also stronger, with Woodside Petroleum closing higher after agreeing to sell up to 12 LNG cargoes to German utility RWE between 2018 and 2020. Meanwhile, New Zealand shares crawled to a record high, as gains in utilities and energy stocks slightly trounced lagging consumer staples and healthcare stocks. New Zealand’s benchmark S&P/NZX 50 Index rose 0.03% or 2.36 points to fi nish the session at 8,146.34, its best close on record. The New Zealand benchmark rose about 2.7% in October, also posting its best month in 2017. Energy retailer Contact Energy Ltd ended at a more than 2½-year high, while Fisher and Paykel Healthcare Corp Ltd closed 1.6% lower. Elsewhere, property shares were mixed following new restrictions imposed on the sector. New Zealand Prime Minister Jacinda Ardern said yesterday a ban on foreigners buying existing homes would begin in early 2018, but the restrictions would not apply to Australians. Goodman Property Trust ended at a three-week low, while Precinct Properties New Zealand Ltd ended 1.3% higher.

US — Wall Street slips as Merck drops; tax talk rattles

NEW YORK: Wall Street pulled back from record-high territory on Monday, weighed down by a drop in Merck shares and a report that US lawmakers are discussing a gradual phase-in of much-anticipated corporate tax cuts. Market watchers pointed to declines steepening after a Bloomberg report that the House of Representatives was discussing a gradual cut in corporate tax rates over several years. “A lot of people are looking to that corporate tax cut as a reason for the next leg up in stocks,” said Rick Meckler, president of LibertyView Capital Management in Jersey City, New Jersey. Investors were also digesting the impact on US President Donald Trump’s agenda from news that his former campaign manager, Paul Manafort, was charged with money laundering in the federal probe into Russian meddling in the 2016 presidential election. “We are in a market that has just been on an absolute low-volatility, steady climb for quite a while, so you don’t need much of a reason for it to take a periodic step back, particularly a small step back,” he said. The Dow Jones Industrial Average fell 0.36% to 23,348.74 points; the S&P 500 Index lost 0.32% to 2,572.83; and the Nasdaq Composite dropped 0.03% to 6,698.96. Stocks pared losses late in the day amid

signs that Trump was close to picking US Federal Reserve (Fed) governor Jerome Powell as head of the US central bank. The New York Times reported Trump was “expected to” name Powell as soon as tomorrow to replace Janet Yellen as Fed chair, after Reuters reported earlier that Trump was likely to pick him. The tech-heavy Nasdaq touched an intraday record high earlier in the session before pulling back. The S&P tech sector rose 0.4%, following big gains on Friday in the wake of a strong batch of earnings. Apple shares rose 2.3% after analysts pointed to strong demand for the iPhone X. Merck shares fell 6.1% after a setback to its key cancer medicine. The stock was among the top drags on the S&P 500 and Dow industrials. In other corporate news, the board of Japan’s SoftBank Group Corp is having doubts about the merger it has been negotiating between its US wireless subsidiary Sprint Corp and T-Mobile US Inc, due to fears of losing control of a combined entity, a source familiar with the matter told Reuters. Sprint shares fell 9.3% and T-Mobile ended off 5.4%. Market watchers readied for another big week of corporate results. With more than half the S&P 500 reported, third-quarter earnings are expected to have climbed 6.7%, up from an expectation of 5.9% growth at the start of October, according to Thomson Reuters. — Reuters

ASX 200Index points

4,686.53

Mar 1, 2010 Oct 31, 2017

5,909.017-10.063

(-0.17%)

3450

4300

5150

6000

Shanghai CompositeIndex points

3,087.842

Mar 1, 2010 Oct 31, 2017

1900

2875

3850

4825

58003,393.34

+3.00(+0.09%)

Dow JonesIndex points

10,403.79

Mar 1, 2010 Oct 30, 2017

23,348.74-85.45

(-0.36%)

9600

13325

17050

20775

24500

Euro STOXX 50 IndexIndex points

2,772.70

Mar 1, 2010 Oct 30, 2017

3,662.18+9.95

(+0.27%)1960

2445

2930

3415

3900

Bursa Malaysia Equity Derivatives

0.340 0.265 0.340 0.335 3042CE PETRONM-CE 0.340 0.010 81 11.700 10.88 22.05 30/04/2018 0.245 0.185 0.210 0.210 3042CF PETRONM-CF 0.210 0.010 242.5 11.700 11.00 15.56 09/04/2018 0.200 0.140 0.190 0.175 3042CG PETRONM-CG 0.190 0.005 169.9 11.700 9.88 16.92 29/06/2018 0.175 0.125 0.165 0.160 3042CH PETRONM-CH 0.165 0.010 419.5 11.700 10.88 21.20 29/06/2018 0.285 0.260 0.275 0.275 3042CI PETRONM-CI 0.275 -0.010 100 11.700 11.10 18.38 29/06/2018 0.220 0.095 0.220 0.200 8869C1 PMETAL-C1 0.215 0.025 538.1 4.430 3.800 5.19 29/06/2018 0.195 0.125 0.195 0.185 8869C2 PMETAL-C2 0.195 0.015 53 4.430 4.100 14.56 29/06/2018 0.160 0.150 0.160 0.150 8869C3 PMETAL-C3 0.155 Unch 413 4.430 4.300 14.56 14/05/2018 0.570 0.220 0.570 0.555 8869CT PMETAL-CT 0.570 0.030 92.4 4.430 2.900 4.06 30/04/2018 0.390 0.170 0.390 0.370 8869CU PMETAL-CU 0.390 0.020 290 4.430 3.000 2.93 19/03/2018 0.320 0.160 0.320 0.315 8869CV PMETAL-CV 0.320 0.005 115 4.430 3.300 3.39 22/03/2018 0.195 0.130 0.195 0.195 8869CX PMETAL-CX 0.195 Unch 1.2 4.430 3.580 7.22 31/05/2018 4.070 2.200 4.070 3.980 8869WC PMETAL-WC 4.050 0.120 310.8 4.430 0.390 0.23 22/08/2019 1.050 0.640 0.955 0.950 7088WB POHUAT-WB 0.955 -0.005 161.5 2.010 1.000 -2.74 21/10/2020 0.185 0.100 0.125 0.125 463411 POS-C11 0.125 Unch 222.9 5.490 5.300 6.79 30/04/2018 0.110 0.090 0.110 0.110 463413 POS-C13 0.110 0.005 15 5.490 6.000 24.32 29/06/2018 0.710 0.250 0.620 0.620 7168WA PRG-WA 0.620 0.010 5 1.000 0.375 -0.50 06/07/2019 0.710 0.400 0.430 0.425 8966WA PRLEXUS-WA 0.430 Unch 25 1.230 1.200 32.52 14/06/2021 0.145 0.040 0.100 0.095 7145WA PSIPTEK-WA 0.095 -0.005 396.7 0.155 0.100 25.81 16/11/2019 0.215 0.100 0.200 0.185 0186WA PTRANS-WA 0.190 Unch 21960 0.320 0.235 32.81 19/09/2020 0.140 0.020 0.095 0.090 0007WA PUC-WA 0.095 Unch 2885.7 0.180 0.100 8.33 25/12/2024 0.145 0.015 0.090 0.085 0007WB PUC-WB 0.085 -0.005 5304 0.180 0.100 2.78 15/02/2019 0.750 0.235 0.600 0.600 7134WA PWF-WA 0.600 0.020 10 1.060 0.620 15.09 20/07/2021 0.170 0.050 0.115 0.105 5256WA REACH-WA 0.110 -0.005 6698.1 0.405 0.750 112.35 12/08/2022 0.110 0.015 0.015 0.015 1066C2 RHBBANK-C2 0.015 -0.005 164 3.795 5.600 48.75 28/02/2018 0.090 0.040 0.050 0.050 5270WA RSENA-WA 0.050 Unch 550.1 0.455 0.500 20.88 01/12/2023 0.150 0.035 0.040 0.040 0133WD SANICHI-WD 0.040 Unch 12.4 0.130 0.300 161.54 21/07/2019 0.315 0.065 0.235 0.225 5157WA SAUDEE-WA 0.235 0.005 221 0.470 0.500 56.38 31/03/2021 0.025 0.005 0.010 0.010 0109WB SCBUILD-WB 0.010 Unch 100 0.040 0.050 50.00 06/11/2019 0.605 0.305 0.480 0.390 7247WA SCGM-WA 0.390 0.005 40.9 2.880 3.960 51.04 31/07/2020 0.185 0.055 0.130 0.125 0161WA SCH-WA 0.130 Unch 585.8 0.215 0.100 6.98 04/12/2021 0.190 0.055 0.130 0.125 0028WA SCOPE-WA 0.130 Unch 41.8 0.230 0.150 21.74 17/07/2020 0.785 0.160 0.390 0.380 7073WB SEACERA-WB 0.385 Unch 54.7 0.890 1.000 55.62 29/05/2019 0.270 0.005 0.030 0.020 521838 SENERGYC38 0.030 0.005 1078.1 1.600 1.650 6.88 30/11/2017 0.100 0.005 0.015 0.015 521845 SENERGYC45 0.015 Unch 1580 1.600 2.000 26.88 28/02/2018 0.120 0.040 0.060 0.055 521846 SENERGYC46 0.060 0.005 9909.9 1.600 1.700 14.88 30/01/2018 0.130 0.030 0.060 0.055 521847 SENERGYC47 0.060 0.005 1022 1.600 1.700 13.75 30/01/2018 0.075 0.030 0.040 0.040 521849 SENERGYC49 0.040 0.005 20 1.600 2.080 35.00 30/03/2018 0.145 0.060 0.100 0.090 521850 SENERGYC50 0.100 0.010 1561 1.600 1.600 12.50 29/06/2018 0.080 0.045 0.060 0.060 521851 SENERGYC51 0.060 0.005 199.5 1.600 1.900 26.25 09/04/2018 0.130 0.110 0.130 0.130 521854 SENERGYC54 0.130 0.015 1100 1.600 1.500 14.06 31/05/2018 0.330 0.115 0.285 0.280 5279CA SERBADK-CA 0.280 -0.010 537 2.630 2.000 2.66 02/02/2018 0.255 0.120 0.245 0.240 5279CC SERBADK-CC 0.245 -0.005 150 2.630 2.150 9.70 26/04/2018 0.200 0.090 0.170 0.165 5279CD SERBADK-CD 0.170 0.005 230 2.630 2.600 18.25 30/03/2018 0.215 0.085 0.120 0.120 0055WA SERSOL-WA 0.120 -0.005 100 0.190 0.180 57.89 18/04/2023 0.205 0.055 0.160 0.150 7165WA SGB-WA 0.155 -0.010 60.2 0.645 0.600 17.05 07/04/2021 0.205 0.055 0.160 0.150 7165WA SGB-WA 0.155 -0.010 60.2 0.645 0.600 17.05 07/04/2021 0.350 0.210 0.285 0.255 7246WA SIGN-WA 0.265 0.020 1553.4 0.890 0.970 38.76 21/04/2021 0.190 0.025 0.040 0.030 419714 SIME-C14 0.035 -0.005 3122.3 9.200 9.000 -0.27 29/12/2017 0.055 0.035 0.040 0.035 419715 SIME-C15 0.035 -0.005 146 9.200 10.00 10.60 19/03/2018 0.440 0.120 0.390 0.380 7155CE SKPRES-CE 0.390 -0.005 55 1.770 1.200 0.85 25/01/2018 0.245 0.110 0.205 0.205 7155CF SKPRES-CF 0.205 -0.005 100 1.770 1.400 2.26 08/01/2018 0.815 0.475 0.550 0.550 5242WA SOLID-WA 0.550 0.030 1 0.995 0.500 5.53 16/12/2020 0.285 0.155 0.170 0.165 0093WA SOLUTN-WA 0.170 0.005 85.2 0.285 0.200 29.82 04/07/2021 0.160 0.070 0.070 0.070 8664C2 SPSETIA-C2 0.070 Unch 50 3.270 3.600 15.44 30/03/2018 0.140 0.050 0.060 0.060 0129WA SRIDGE-WA 0.060 Unch 112 0.155 0.180 54.84 24/02/2023 0.150 0.010 0.010 0.010 6084CE STAR-CE 0.010 Unch 598 1.690 2.261 35.07 26/02/2018 0.180 0.095 0.170 0.165 0080WA STRAITS-WA 0.165 Unch 824 0.270 0.115 3.70 10/08/2022 0.135 0.085 0.105 0.105 5263CL SUNCON-CL 0.105 0.005 50 2.300 2.300 13.70 26/04/2018 0.080 0.075 0.080 0.080 5263CN SUNCON-CN 0.080 Unch 100 2.300 2.600 23.48 29/06/2018 0.505 0.150 0.365 0.360 3743WA SUNSURIA-WA 0.365 -0.015 19.7 1.380 1.500 35.14 22/07/2020



0.735 0.305 0.660 0.635 5211WB SUNWAY-WB 0.640 -0.015 3710.1 1.730 1.860 44.51 03/10/2024 0.155 0.010 0.025 0.025 710627 SUPERMX-C27 0.025 -0.005 4975.3 1.770 2.000 15.82 02/02/2018 0.065 0.020 0.020 0.020 710628 SUPERMX-C28 0.020 -0.005 720 1.770 2.200 27.12 22/01/2018 0.090 0.030 0.035 0.030 710629 SUPERMX-C29 0.035 Unch 1929.5 1.770 1.900 13.47 30/01/2018 0.290 0.090 0.155 0.140 710630 SUPERMX-C30 0.150 -0.020 573.2 1.770 1.850 12.99 29/06/2018 0.220 0.120 0.130 0.120 7082WB SYF-WB 0.120 -0.005 695.8 0.455 0.700 80.22 11/11/2019 0.365 0.125 0.220 0.220 1538WB SYMLIFE-WB 0.220 0.005 110 0.870 1.100 51.72 11/11/2020 0.160 0.115 0.115 0.115 4898CH TA-CH 0.115 -0.015 150 0.640 0.655 20.31 31/05/2018 0.330 0.130 0.170 0.130 8524WB TALIWRK-WB 0.170 0.020 15.1 1.250 1.700 49.60 11/11/2018 0.130 0.050 0.060 0.060 0132WA TDEX-WA 0.060 0.005 210 0.150 0.110 13.33 21/09/2018 0.285 0.055 0.210 0.180 534735 TENAGA-C35 0.195 0.035 1598.4 15.000 13.80 -0.20 30/11/2017 0.165 0.090 0.135 0.135 534736 TENAGA-C36 0.135 0.010 100 15.000 13.00 0.17 30/11/2017 0.190 0.050 0.130 0.085 534739 TENAGA-C39 0.130 0.025 3485.4 15.000 14.60 1.67 29/06/2018 0.160 0.040 0.090 0.080 0145WA TFP-WA 0.090 0.005 842.2 0.180 0.100 5.56 15/02/2019 3.350 2.490 2.930 2.890 7034WA TGUAN-WA 2.930 Unch 19.2 4.470 1.500 -0.89 09/10/2019 0.025 0.005 0.010 0.010 7079WB TIGER-WB 0.010 Unch 50.1 0.050 0.170 260.00 23/12/2018 0.125 0.050 0.080 0.075 486320 TM-C20 0.080 0.010 180 6.350 6.400 3.31 31/05/2018 0.300 0.125 0.190 0.185 0101WB TMCLIFE-WB 0.185 -0.005 394.1 0.855 0.750 9.36 21/06/2019 0.810 0.510 0.520 0.510 8397WC TNLOGIS-WC 0.510 -0.010 78.5 1.490 1.000 1.34 26/12/2018 0.485 0.127 0.485 0.460 7285WA TOMYPAK-WA 0.475 0.010 1301.4 1.060 0.930 32.55 21/06/2021 0.360 0.035 0.285 0.255 711317 TOPGLOV-C17 0.255 -0.020 415 6.400 5.200 -0.82 29/12/2017 0.205 0.060 0.165 0.165 711318 TOPGLOV-C18 0.165 Unch 75 6.400 5.400 1.13 30/11/2017 0.210 0.080 0.155 0.155 711319 TOPGLOV-C19 0.155 -0.005 30 6.400 6.100 7.42 12/02/2018 0.205 0.090 0.160 0.160 711320 TOPGLOV-C20 0.160 -0.005 130 6.400 5.800 8.13 30/04/2018 0.325 0.295 0.310 0.295 711321 TOPGLOV-C21 0.295 -0.030 76.4 6.400 5.650 4.41 31/07/2018 0.205 0.070 0.160 0.160 711301 TOPGLOV-MC01 0.160 -0.005 40 6.400 5.600 2.50 14/12/2017 0.200 0.010 0.025 0.020 7173WA TOYOINK-WA 0.025 Unch 103.5 0.680 1.500 124.26 20/04/2018 0.360 0.200 0.290 0.275 5401WA TROP-WA 0.285 Unch 424.5 1.000 1.000 28.50 06/12/2019 0.175 0.005 0.005 0.005 5230CN TUNEPRO-CN 0.005 Unch 80 0.605 1.500 149.17 30/11/2017 0.060 0.015 0.020 0.020 514846 UEMS-C46 0.020 Unch 804.7 1.110 1.300 19.37 30/03/2018 0.150 0.075 0.090 0.080 514847 UEMS-C47 0.080 -0.005 3014.5 1.110 1.000 4.50 30/01/2018 0.075 0.030 0.040 0.035 514851 UEMS-C51 0.035 Unch 1490.5 1.110 1.200 14.41 22/02/2018 0.160 0.080 0.095 0.095 514852 UEMS-C52 0.095 Unch 75 1.110 1.100 9.80 31/05/2018 0.045 0.040 0.045 0.045 514853 UEMS-C53 0.045 Unch 7459.9 1.110 1.250 21.53 30/04/2018 0.125 0.065 0.065 0.065 4588C2 UMW-C2 0.065 -0.005 135 5.240 5.700 14.98 30/04/2018 0.195 0.095 0.195 0.180 5243WA UMWOG-WA 0.185 -0.005 13344.9 0.320 0.395 81.25 18/10/2024 0.195 0.050 0.055 0.050 7091WA UNIMECH-WA 0.050 -0.005 104.6 1.050 1.500 47.62 18/09/2018 0.395 0.195 0.305 0.305 5005CV UNISEM-CV 0.305 0.005 60 4.000 3.100 0.38 30/11/2017 0.150 0.095 0.120 0.120 0097CG VITROX-CG 0.120 0.005 11.8 5.030 4.800 14.51 30/04/2018 0.090 0.025 0.050 0.045 0069WB VIVOCOM-WB 0.045 Unch 62 0.140 0.200 75.00 07/09/2018 0.125 0.050 0.085 0.080 0069WC VIVOCOM-WC 0.085 Unch 1158.2 0.140 0.100 32.14 22/01/2020 0.115 0.055 0.085 0.080 0069WD VIVOCOM-WD 0.085 Unch 361.3 0.140 0.100 32.14 08/07/2020 0.055 0.020 0.050 0.045 7070WB VIZIONE-WB 0.045 Unch 582 0.165 0.160 24.24 20/06/2018 0.125 0.030 0.120 0.115 7070WC VIZIONE-WC 0.115 Unch 2633.3 0.165 0.100 30.30 05/02/2022 0.735 0.210 0.715 0.705 7240WA VOIR-WA 0.715 -0.010 323.5 1.180 0.500 2.97 31/03/2024 0.215 0.140 0.210 0.205 6963CR VS-CR 0.210 0.005 10.1 3.080 2.480 7.79 29/06/2018 0.190 0.115 0.180 0.170 6963CS VS-CS 0.170 -0.005 20 3.080 2.680 9.09 29/06/2018 0.115 0.105 0.115 0.110 6963CU VS-CU 0.110 -0.005 55 3.080 3.500 24.35 31/05/2018 0.055 0.005 0.015 0.010 0066WA VSOLAR-WA 0.010 Unch 2466.5 0.135 0.120 -3.70 01/12/2017 1.510 0.240 1.430 1.380 6963WA VS-WA 1.400 -0.030 5231.9 3.080 1.650 -0.97 06/01/2019 0.150 0.055 0.105 0.100 9679C3 WCT-C3 0.105 -0.005 501 1.660 1.700 13.48 29/06/2018 0.080 0.040 0.070 0.060 9679C4 WCT-C4 0.065 Unch 1380.5 1.660 1.850 20.45 30/04/2018 0.665 0.015 0.055 0.040 9679WD WCT-WD 0.050 Unch 6514.1 1.660 1.710 6.02 11/12/2017 0.570 0.175 0.295 0.290 9679WE WCT-WE 0.290 -0.005 576 1.660 2.080 42.77 27/08/2020 0.930 0.540 0.690 0.660 7245WA WZSATU-WA 0.690 Unch 15.8 1.110 0.500 7.21 28/10/2024 0.020 0.005 0.010 0.010 0095WA XINGHE-WA 0.010 Unch 440 0.060 0.100 83.33 22/03/2019 0.110 0.035 0.060 0.050 0165WA XOX-WA 0.055 Unch 2319 0.110 0.200 131.82 10/02/2019 0.130 0.050 0.055 0.050 7020WB YKGI-WB 0.050 -0.005 1013.4 0.185 0.500 197.30 28/05/2020 1.130 0.735 1.080 1.070 7066WA YONGTAI-WA 1.070 Unch 239.9 1.610 0.500 -2.48 24/06/2020 0.090 0.050 0.050 0.050 467712 YTL-C12 0.050 -0.010 90 1.270 1.350 10.24 29/06/2018 0.050 0.030 0.030 0.030 467713 YTL-C13 0.030 -0.005 20 1.270 1.471 20.43 09/04/2018 0.090 0.005 0.010 0.005 4677C9 YTL-C9 0.005 -0.005 515.8 0.635 1.400 122.05 07/12/2017 0.115 0.020 0.025 0.025 6742C1 YTLPOWR-C1 0.025 -0.010 20 1.300 1.400 9.62 28/02/2018 0.435 0.205 0.220 0.220 6742WB YTLPOWR-WB 0.220 Unch 36.9 1.300 1.110 2.31 11/06/2018 0.100 0.040 0.045 0.040 2283WA ZELAN-WA 0.045 Unch 1280.7 0.130 0.250 126.92 25/01/2019

Main Market & Ace Market Warrants

MarketsI N S I D E R M O V E S . T R A D I N G T H E M E S . E V E N T S . F O R E X


Local events to watch out for today

While every eff ort is made to ensure accuracy, the information presented is not an exhaustive list and is not an offi cial record of shareholder fi lings. Direct and indirect share are combined due to space constraints. Readers who are interested should check the offi cial fi lings fi led with Bursa Malaysia. Note: * denotes Ace Market

7-ELEVEN MALAYSIA 432,000 DYMM SULTAN IBRAHIM JOHOR 109,192,000 20, 24 & 25/10ASIA FILE CORPORATION (159,400) AMANAHRAYA TRUSTEES 41,000,000 26/10 - SKIM AMANAH SAHAM BUMIPUTERAASTRO MALAYSIA (1,492,500) EMPLOYEES PROVIDENT FUND BOARD 314,391,800 26/10BERMAZ AUTO 717,900 EMPLOYEES PROVIDENT FUND BOARD 148,852,246 23/10BIMB 30,750,000 LEMBAGA TABUNG HAJI 870,039,300 26/10BOUSTEAD 382,000 LEMBAGA TABUNG ANGKATAN TENTERA 1,252,426,418 25 & 26/10BUMI ARMADA 3,995,900 EMPLOYEES PROVIDENT FUND BOARD 348,530,995 23 & 25/10BURSA MALAYSIA 67,200 EMPLOYEES PROVIDENT FUND BOARD 38,339,794 25/10CAHYA MATA SARAWAK 50,000 LEMBAGA TABUNG HAJI 90,703,600 26/10CAPITALAND M’SIA MALL TRUST 26,000 EMPLOYEES PROVIDENT FUND BOARD 197,459,400 25/10DGB ASIA 1,000,000 KUA KHAI SHYUAN 1,000,000 27/10DIALOG GROUP 2,228,700 EMPLOYEES PROVIDENT FUND BOARD 702,338,950 25/10DIGI.COM (47,888) EMPLOYEES PROVIDENT FUND BOARD 1,042,500,739 20, 23 & 25/10DRB-HICOM 181,800 EMPLOYEES PROVIDENT FUND BOARD 113,456,041 23/10FELDA GLOBAL VENTURES (1,000,000) KOPERASI PERMODALAN FELDA MALAYSIA 203,581,808 26 & 27/10FRASER & NEAVE 13,800 EMPLOYEES PROVIDENT FUND BOARD 41,968,330 23/10GAMUDA (1,210,100) EMPLOYEES PROVIDENT FUND BOARD 293,364,805 25/10GENTING PLANTATIONS (3,566,200) EMPLOYEES PROVIDENT FUND BOARD 118,496,800 25/10GOH BAN HUAT 11,205,400 PARAGON ADVENTURE 117,205,780 26 & 27/10HIAP HUAT 250,000 BU YAW SENG 24,304,400 27/10HONG LEONG BANK 86,300 EMPLOYEES PROVIDENT FUND BOARD 269,071,121 25/10IGB REAL ESTATE INVT 72,300 EMPLOYEES PROVIDENT FUND BOARD 249,049,913 25/10IJM CORPORATION (159,300) AMANAHRAYA TRUSTEES 212,290,700 26/10 - SKIM AMANAH SAHAM BUMIPUTERAINARI AMERTRON (174,000) EMPLOYEES PROVIDENT FUND BOARD 104,818,150 25/10INTA BINA GROUP (2,759,000) YAP YOON KONG 18,808,900 30/10KUALA LUMPUR KEPONG (112,500) EMPLOYEES PROVIDENT FUND BOARD 127,740,688 25/10KUMPULAN POWERNET (300,000) WOO WAI MUN 5,569,408 27/10LAFARGE MALAYSIA 394,562 EMPLOYEES PROVIDENT FUND BOARD 68,420,467 23 & 25/10MALAYAN BANKING (5,000,000) AMANAHRAYA TRUSTEES 3,690,000,000 26/10 - SKIM AMANAH SAHAM BUMIPUTERAMALAYAN BANKING 1,691,700 EMPLOYEES PROVIDENT FUND BOARD 1,289,441,461 25/10MALAYSIA AIRPORTS (936,300) EMPLOYEES PROVIDENT FUND BOARD 186,251,692 25/10MAXIS (1,355,000) EMPLOYEES PROVIDENT FUND BOARD 858,575,824 25/10MEDIA PRIMA 119,800 MORGAN STANLEY & CO. LLC. US 100,308,000 26/10MESB 65,500 IHSAN OSMAN 5,059,100 25 & 26/10MITRAJAYA 710,000 EMPLOYEES PROVIDENT FUND BOARD 41,556,000 23 & 24/10MNRB (500,000) AMANAHRAYA TRUSTEES 139,380,000 26/10 - SKIM AMANAH SAHAM BUMIPUTERAMUHIBBAH ENGINEERING (M) (100,000) LEMBAGA TABUNG HAJI 48,727,100 26/10NESTLE (MALAYSIA) (15,100) EMPLOYEES PROVIDENT FUND BOARD 19,535,800 23 & 25/10NOTION VTEC (774,800) LEMBAGA TABUNG HAJI 19,091,303 20 & 23/10OLDTOWN (695,200) MAWER INVESTMENT MANAGEMENT 38,068,050 26/10OLDTOWN (100,000) FRANKLIN RESOURCES, INC. US 27,842,925 26/10POS MALAYSIA (1,168,400) EMPLOYEES PROVIDENT FUND BOARD 61,207,536 25/10PPB GROUP 151,700 EMPLOYEES PROVIDENT FUND BOARD 117,589,379 25/10PRESTARIANG (43,000) AIA 47,057,100 26/10PRG 65,300 WANG JING 24,284,600 27/10PROTASCO 50,000 EMPLOYEES PROVIDENT FUND BOARD 37,090,340 25/10PUBLIC BANK (293,900) EMPLOYEES PROVIDENT FUND BOARD 551,502,400 25/10PUNCAK NIAGA 53,100 LEMBAGA TABUNG HAJI 45,612,600 26/10SERN KOU RESOURCES 800,000 CIMB COMMERCE TRUSTEE 7,143,600 25/10SKP RESOURCES (1,170,000) EMPLOYEES PROVIDENT FUND BOARD 72,120,100 25/10SUNWAY 4,121,200 EMPLOYEES PROVIDENT FUND BOARD 246,354,521 23 & 25/10SUNWAY REAL ESTATE INVT 2,533,600 EMPLOYEES PROVIDENT FUND BOARD 403,831,600 24 & 25/10TA GLOBAL 1,983,000 DATUK TIAH THEE KIAN 524,408,238 27 & 30/10TELEKOM MALAYSIA 1,897,000 EMPLOYEES PROVIDENT FUND BOARD 657,736,901 25/10TENAGA NASIONAL (4,000,000) EMPLOYEES PROVIDENT FUND BOARD 655,752,282 25/10TIME DOTCOM 195,500 EMPLOYEES PROVIDENT FUND BOARD 33,614,700 25/10TOP GLOVE CORPORATION 80,600 EMPLOYEES PROVIDENT FUND BOARD 68,759,629 23 & 25/10TOP GLOVE CORPORATION (100,000) TAN SRI DATO’ SERI ARSHAD AYUB 900,000 27/10UEM SUNRISE 319,500 LEMBAGA TABUNG HAJI 327,250,400 26/10VOIR (3,000,000) VISTA LESTARI DEVELOPMENT 53,785,588 26/10WCT 550,000 EMPLOYEES PROVIDENT FUND BOARD 113,142,508 23/10YINSON (102,500) EMPLOYEES PROVIDENT FUND BOARD 114,916,416 25/10ZECON (500,000) DAWLA CAPITAL 53,189,475 25/10

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

Insider moves (Filings on Oct 30, 2017)Insider Moves show what substantial shareholders are doing with their stakes, which could be a signal of their views on the company’s outlook.

Note: Run your fi nger down the left-hand side until you reach the country of origin you plan to exchange. Then move your fi nger until that line intersects with the vertical column of the currency you wish to buy. The fi gure is how much you will get. The above rates are subject to change and provided by Thompson Reuters.

Foreign exchange rates NZ EURO US SWISS BRIT CANADA BRUNEI S’PORE AUST M’SIA CHINA BANGL’H DENM’K UAE INA INDIA JAPAN NORWAY PHIL QATAR SAUDI SWEDEN THAI HK

NZ $ 0.588 0.684 0.683 0.518 0.879 0.932 0.932 0.894 2.8971 4.538 56.744 4.378 2.514 9,282 44.317 77.560 5.600 35.328 2.493 2.567 5.730 22.739 5.339

EURO 1.700 1.163 1.161 0.880 1.494 1.584 1.584 1.519 4.9237 7.713 96.438 7.441 4.272 15,775 75.318 131.815 9.518 60.041 4.236 4.363 9.738 38.645 9.073

US $ 1.461 0.860 0.998 0.757 1.285 1.362 1.362 1.305 4.2325 6.630 82.900 6.396 3.673 13,560 64.745 113.311 8.182 51.613 3.641 3.750 8.371 33.220 7.800

SWISS FR 1.464 0.861 1.002 0.758 1.287 1.364 1.365 1.308 4.2406 6.643 83.059 6.409 3.680 13,586 64.869 113.528 8.198 51.711 3.648 3.757 8.387 33.284 7.815

STERLING £ 1.930 1.136 1.321 1.319 1.697 1.799 1.800 1.725 5.5928 8.761 109.543 8.452 4.853 17,918 85.553 149.728 10.812 68.201 4.812 4.955 11.062 43.897 10.306

CANADA $ 1.137 0.669 0.778 0.777 0.589 1.060 1.060 1.016 3.2948 5.161 64.534 4.979 2.859 10,556 50.401 88.207 6.369 40.178 2.835 2.919 6.517 25.860 6.072

BRUNEI $ 1.073 0.631 0.734 0.733 0.556 0.943 1.000 0.959 3.1080 4.868 60.875 4.697 2.697 9,957 47.543 83.206 6.008 37.900 2.674 2.754 6.147 24.394 5.727

SINGAPORE $ 1.073 0.631 0.734 0.733 0.556 0.943 1.000 0.959 3.1078 4.868 60.871 4.697 2.697 9,957 47.540 83.201 6.008 37.898 2.674 2.754 6.147 24.393 5.727

AUSTRALIA $ 1.119 0.658 0.766 0.765 0.580 0.984 1.043 1.043 3.2421 5.079 63.501 4.900 2.813 10,387 49.595 86.796 6.267 39.535 2.789 2.873 6.412 25.447 5.975

MALAYSIA RM 0.345 0.203 0.236 0.236 0.179 0.304 0.322 0.322 0.308 1.0000 1.566 19.587 1.511 0.868 3,204 15.297 26.772 1.933 12.194 0.860 0.886 1.978 7.849 1.843

100 CHINESE RMB 22.035 12.966 15.083 15.054 11.414 19.376 20.540 20.542 19.691 63.8390 1,250 96.477 55.394 204,527 976.550 1,709 123.408 778.477 54.925 56.563 126.264 501.060 117.643

100 BANGLAD’H TAKA 1.762 1.037 1.206 1.204 0.913 1.550 1.643 1.643 1.575 5.1056 7.998 7.716 4.430 16,357 78.100 136.684 9.870 62.259 4.393 4.524 10.098 40.073 9.409

100 DANISH KRONER 22.840 13.439 15.634 15.604 11.831 20.083 21.290 21.292 20.410 66.1700 103.65 1,296 57.417 211,995 1,012.21 1,771 127.91 806.90 56.93 58.63 130.87 519.36 121.94

100 UAE DIRHAM 39.780 23.406 27.229 27.177 20.606 34.978 37.080 37.083 35.546 115.2453 180.52 2,257 174.17 369,222 1,763 3,085 222.78 1,405 99.15 102.11 227.94 904.54 212.38

1000 INA RUPIAH 0.011 0.006 0.007 0.007 0.006 0.009 0.010 0.010 0.010 0.0312 0.049 0.611 0.047 0.027 0.477 0.836 0.060 0.381 0.027 0.028 0.062 0.245 0.058

100 INDIA RUPEE 2.256 1.328 1.545 1.542 1.169 1.984 2.103 2.103 2.016 6.5372 10.240 128.041 9.879 5.672 20,944 175.011 12.637 79.717 5.624 5.792 12.930 51.309 12.047

100 JAPAN YEN 1.289 0.759 0.883 0.881 0.668 1.134 1.202 1.202 1.152 3.7353 5.851 73.161 5.645 3.241 11,967 57.139 7.221 45.550 3.214 3.310 7.388 29.318 6.883

100 NORWEGIAN KRONER 17.856 10.506 12.222 12.199 9.249 15.700 16.644 16.645 15.956 51.7300 81.032 1,013 78.177 44.887 165,732 791.317 1,385 630.815 44.507 45.834 102.314 406.018 95.329

100 PHILIPPINE PESO 2.831 1.666 1.938 1.934 1.466 2.489 2.639 2.639 2.529 8.2005 12.846 160.619 12.393 7.116 26,273 125.444 219.541 15.853 7.055 7.266 16.219 64.364 15.112

100 QATAR RIYAL 40.119 23.606 27.461 27.409 20.782 35.277 37.397 37.399 35.850 116.2296 182.067 2,277 175.653 100.854 372,376 1,778 3,112 224.685 1,417 102.982 229.884 912.263 214.189

100 SAUDI RIYAL 38.957 22.923 26.666 26.615 20.180 34.255 36.314 36.316 34.812 112.8637 176.794 2,211 170.566 97.933 361,592 1,726 3,022 218.178 1,376 97.104 223.227 885.845 207.987

100 SWEDISH KRONOR 17.452 10.269 11.946 11.923 9.040 15.345 16.268 16.269 15.595 50.5600 79.199 990.293 76.409 43.872 161,984 773.420 1,354 97.738 616.548 43.500 44.797 396.835 93.173

100 THAI BAHT 4.398 2.588 3.010 3.004 2.278 3.867 4.099 4.100 3.930 12.7408 19.958 249.548 19.255 11.055 40,819 194.897 341.092 24.629 155.366 10.962 11.289 25.199 23.479

100 HK$ 18.731 11.021 12.821 12.797 9.703 16.470 17.460 17.461 16.738 54.2649 85.003 1,062.859 82.008 47.086 173,854 830.094 1,453 104.900 661.727 46.688 48.080 107.328 425.914

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

BARAKAH-LA 0.415 0.400 0.400 427TOPGLOV-C21 0.310 0.295 0.295 76.4FBMKLCI-C1Z 0.190 0.190 0.190 10MEDAINC 0.410 0.400 0.405 120MALAKOF-C4 0.080 0.080 0.080 550BAT 40.600 39.060 39.200 662.2GENM-C25 0.005 0.005 0.005 102.5YTL-C13 0.030 0.030 0.030 20BAT-CJ 0.065 0.055 0.055 1103.2GENM-C24 0.030 0.025 0.025 420IJM-C8 0.030 0.030 0.030 20MALAKOF-C3 0.050 0.050 0.050 300IJM-C9 0.020 0.020 0.020 30IJM-C11 0.100 0.085 0.085 204SIME-C15 0.040 0.035 0.035 146YTL 1.300 1.260 1.270 8860.1A50CHIN-H6 0.415 0.410 0.410 58.6GENTINGC46 0.085 0.080 0.080 161CBIP-CF 0.045 0.045 0.045 56MBSB-C6 0.040 0.040 0.040 160MBSB-C1 0.005 0.005 0.005 20

This table shows stocks that are trading near their year low. This could suggest a build-up in selling momentum, or the possibility that bargain hunting could set in later.

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

ALSREIT 1.040 0.995 1.040 38.2PMBTECH 3.440 3.350 3.350 444.3HAIO-CB 0.220 0.220 0.220 100POS-C13 0.110 0.110 0.110 15IOICORP-C15 0.115 0.115 0.115 50FGV-C39 0.205 0.200 0.200 230PMETAL-C1 0.220 0.200 0.215 538.1PMETAL-CT 0.570 0.555 0.570 92.4PMETAL-C2 0.195 0.185 0.195 53PMETAL-CU 0.390 0.370 0.390 290MBSB-C6 0.040 0.040 0.040 160PMETAL 4.500 4.330 4.430 8429PMETAL-WC 4.070 3.980 4.050 310.8KRONO 1.230 1.150 1.210 11365.4GBGAQRS 1.960 1.900 1.960 2516.5INARI-C7 0.085 0.080 0.085 2324THETA 0.675 0.470 0.570 14669.9GBGAQRS-WA 0.630 0.580 0.630 18357.4SOP 4.660 4.400 4.580 465.5PMETAL-C3 0.160 0.150 0.155 413MMCCORP-C8 0.110 0.065 0.110 2527.1

This table shows stocks that are trading near their year high. This could suggest a build-up in buying momentum, or the possibility that profi t-taking activities could set in later.

Trading themes

Stocks closest to year high Stocks closest to year low

Best place for groceries

As online grocers like Amazon look for ways to tap the US market, they are fi nding that Americans remain fi ercely loyal to their local supermarkets.

London Metal Exchange January to September volumes year-on-year change

• Th e Economist’s Sustainability Summit Asia 2017 at Sunway Resort Hotel and Spa, Per-siaran Lagoon, Bandar Sunway, Petaling Jaya, Selangor from 8am to 5.30pm.

• Media launch of AmBank BizRACE Entre-preneurship Challenge at Kuala Lumpur Convention Centre, Jalan Pinang, Kuala Lumpur at 10.30am.

MarketsF U T U R E S . M O N E Y M A R K E T . C O M M O D I T I E S

3 1


Index futures

FUTURES FAIR VALUECONTRACT DAYS TO EXPIRY KLIBOR DIVIDEND FAIR VALUE

FUTURES ROLL OVER BID OFFER CLOSE

OCT/NOV — — 3.0

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

Money market

Commodities

NOV/DEC -1NOV/JAN -24NOV/FEB -41DEC/JAN -23

CPO FUTURES INDICATIVE ROLL-OVER

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

OPEN CHANGE INCONTRACT LAST CHANGE VOLUME INTEREST OPEN INTEREST

NOV-17 2,792 -14 262 2,173 -103DEC-17 2,793 -22 1,256 14,892 -1,191JAN-18 2,816 -23 15,038 61,083 786FEB-18 2,833 -23 3,555 28,174 565MAR-18 2,847 -18 3,132 38,751 67

Palm oil falls after four straight sessions of gains

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

Oil prices near two-year highs as supply cuts bite

METAL & PRECIOUS METALSTIN US$/TON KLTM 19,650 -200COPPER USC/IBS CMX 3.1230 0.0040GOLD US$/TROY OZ CMX 1,274.00 -3.70PLATINUM US$/TROY OZ NYMEX 919.20 -3.50PALLADIUM US$/TROY OZ NYMEX 961.35 6.70SILVER USC/TROY OZ CMX 16.83 -0.02ALUMINIUM RMB/TON SHF 16,365 -15ZINC RMB/TON SHF 25,970 460

ENERGYLIGHT CRUDE OIL US$/BBL NYMEX 54.06 -0.09HEATING OIL USC/GAL NYMEX 1.8715 -0.0047NATURAL GAS US$/MMBTU NYMEX 3.090 -0.010BRENT CRUDE US$/BBL ICE 60.77 -0.13GAS OIL US$/TON ICE 548.75 1.25

CRUDE PALM OIL RM/TON MDEX 2,816 -23RUBBER SEN/KG MRB 588.00 7.00CORN USC/BSH CBOT 348.50 -0.25SOYBEANS USC/BSH CBOT 974.50 1.75WHEAT USC/BSH CBOT 424.75 -2.50LIVE CATTLE USC/IBS CME 123.20 -0.20COCOA US$/TON NYBOT 2,100 -11COFFEE USC/IBS NYBOT 128.60 -0.85SUGAR USC/IBS NYBOT 14.81 0.02COTTON USC/IBS NYC 69.48 -0.17

AGRICULTURE UNIT EXCHANGE LAST PRICE CHANGE

Rubber - M’sia SMR 20

Sen/Kg

Jan 7, 2007 Oct 31, 2017

200

625

1050

1475

1900

588.00(+7.00)

SGS & ITS EXPORT ESTIMATES (TONNES)SHIPMENT DAYS

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

AUG’17 SEPT’17 OCT’17

363/355 397/380 462/448 537/512 652/626 709/690 693/679 878/852 968/951 956/934 1,106/1,085 1,197/1,178 1,259/1,243 1,385/1,373 1,417/1,407

MALAYSIAN PALM OIL BOARD

PRODUCTIONEXPORT STOCKS

FKLI

Index points Open Interest

Jan 4, 2010

2000

24000

46000

68000

90000

1200

1395

1590

1785

1980

Oct 31, 2017

1,746.50(-2.00)

Klibor

Implied interest rate (%)

Oct 1, 2000

3.50(Unch)

Oct 31, 2017

1.5

2.5

3.5

4.5

Centrifuged Latex

Sen/Kg

Jan 7, 2007

459.50(-11.00)

Oct 31, 2017

300

500

700

900

1100

CPO futures

FBM KLCI futures

NOV7 96.52 — — —DEC7 96.50 — — —JAN8 96.50 — — —MAR8 96.50 — — —JUN8 96.50 — — —SEP8 96.50 — — —DEC8 96.50 — — —MAR9 96.50 — — —JUN9 96.50 — — —SEP9 96.50 — — —DEC9 96.50 — — —MAR0 96.50 — — —JUN0 96.50 — — —SEP0 96.50 — — —DEC0 96.50 — — —MAR1 96.50 — — —JUN1 96.50 — — —SEP1 96.50 — — —DEC1 96.50 — — —MAR2 96.50 — — —JUN2 96.50 — — —SEP2 96.50 — — —TOTAL 0 0

MONTH SETTLEMENT CHANGE VOLUME OPEN PRICE INTEREST

Klibor

Malaysian palm oil futures fell yesterday after four straight sessions of gains on weakness in related edible oils, while shipment data from cargo surveyors did little to support the market. The benchmark palm oil contract for January delivery on Bursa Malaysia Derivatives was down 0.9% or RM23 to RM2,816 a tonne after posting its biggest intraday percentage drop in three weeks. It has risen 4.5% so far this month, charting a third monthly gain in four. “Th e market is down on a correction and due to externals. Th ey didn’t go up, so palm followed,” said a trader referring to soyoil on the US Chicago Board of Trade and China’s Dalian Commodity Exchange. “Exports also came in within market expectations,” he said. Malaysian palm oil shipments in October rose 2.5% from the previous month, according to data from cargo surveyor Intertek Testing Services. Another cargo surveyor, Societe Generale de Surveillance, showed export gains of 2.3% for the same time period. Gains in exports have been slowing since mid-September as demand ebbs after the major festivities of Deepavali in India and the Mid-Autumn festival in China. Palm oil usage usually slows during winter in markets such as China and Europe as the tropical oil solidifi es in cold temperatures. — Reuters

JUN’17 JULY’17 AUG’17 SEP’17

1,514 1,827 1,810 1,780 1,379 1,398 1,487 1,515 1,527 1,784 1,942 2,019

MPOB FFB REF PRICE (MILL GATE PRICE)

NORTH 20.00% 647 19.00% 619 18.00% 592SOUTH 20.00% 650 19.00% 623 18.00% 595CENTRAL 20.00% 645 19.00% 617 18.00% 589EAST COAST 20.00% 644 19.00% 617 18.00% 589SABAH 22.00% 627 21.00% 602 20.00% 577SARAWAK 22.00% 634 21.00% 608 20.00% 582

REGION GRADE A GRADE B GRADE C OER (RM/TON) OER (RM/TON) OER (RM/TON)

(IN RM/TON) OCT’17 NOV’17 DEC’17

CPO DELD 2,782.50 2,796.50 NO TRADEPK EX-MILL NO TRADE 2,793.50 NO TRADECPKO DELD NO TRADE 5,853.00 5,886.50RBD P.OIL FOB NO TRADE NO TRADE NO TRADERBD P.OLEIN FOB NO TRADE NO TRADE NO TRADERBD P. STEARIN FOB NO TRADE NO TRADE NO TRADE

MPOB Palm oil physical

Oil prices steadied yesterday after a week of gains as the prospect of increasing US exports dampened bullish sentiment that has driven Brent to more than two-year highs above US$60 per barrel. Iraq’s move to increase oil exports from its southern ports by 220,000 barrels per day (bpd) to 3.45 million bpd to make up for supply disruptions from its northern Kirkuk fi elds also weighed on prices, traders said. Brent oil was down 13 US cents at US$60.80 a barrel, not far off July 2015-highs reached earlier this week, and up around 37% since their 2017 lows last June. US crude oil was nine US cents lower at US$54.06, still near its highest since February and also not far off its highest for more than two years. Traders and brokers said investors were adjusting positions after price rises of around 5% in October. — Reuters

Commodities

Singapore shares closed down 0.1%, while Indonesia gained 0.53%. — Agencies

CPO & Open Interest

CPO RM/tonne Open Interest

Jan 6, 2008 Oct 31, 2017

10000

57500

105000

152500

200000

1200

1950

2700

3450

4200

(-23)2,816

CPO vs Soyoil

CPO RM/tonne Soyoil US$/Ibs

Jan 6, 2008 Oct 31, 2017

0.3489(RM3,255/tonne)

2,816(-23)

0.000

0.175

0.350

0.525

1100

2425

3750

5075

6400 0.700

The US dollar brushed off news that investigators had charged US President Donald Trump’s former campaign manager yesterday, putting it on track for its best month since February. It had earlier slipped to an 11-day low against the yen, as investors turned cautious following news that Paul Manafort and another Trump aide, Rick Gates, had been charged in a probe into Russian interference during last year’s elections. But it recovered to trade up 0.2% on the day against the Japanese currency — which is often sought at times of political or fi nancial uncertainty — at ¥113.40. “Markets have got used to every now and again having a bad Trump story,” UBS Wealth Management currency strategist Constantin Bolz in Zurich, said.— Reuters

US dollar heads for best month since February with rebound

Th e FBM KLCI futures contracts on Bursa Malaysia Derivatives closed lower yesterday in line with the underlying cash market. October 2017 shed four points to 1,743.5; November 2017 eased two points at 1,746.5; December 2017 declined one point to 1,749; while March 2018 fell 0.5 of-a-point to 1,750. Turnover fell to 8,086 lots from Monday’s 9,557 lots, with open interest amounting to 32,961 contracts from 35,446 contracts on Monday. Th e underlying benchmark FBM KLCI fi nished 0.43 of-a-point lower to 1,747.92. Southeast Asian stocks were largely subdued yesterday after data showed China’s factory growth slowed more than expected in October, with Vietnam dropping nearly 1%, while Th ailand’s index gained for the sixth session on strong industrial output data.

FBM KLCI futures contracts close lower

Crude Oil

US$/bbl

Apr 10, 2007 Oct 31, 2017

54.06(-0.09)

20.00

53.75

87.50

121.25

155.00

Gold

US$/troy oz

Aug 31, 2008 Oct 31, 2017

700

1020

1340

1660

1980

1,274.00(-3.70)

Long Rolls - KLCI futures

Index points

Jan 4, 2010

3.00(+1.50)

Oct 31, 2017

-35.00

-21.75

-8.50

4.75

18.00

US Dollar

USD Index

Oct 2, 2006

71.0

79.5

88.0

96.5

105.094.626(+0.066)

Oct 31, 2017

FBMKLCI 1,747.92 -0.43 854.53M OCT 17 1,743.50 -4.00 3,458 7,603 -4,966NOV 17 1,746.50 -2.00 4,550 24,653 1,156DEC 17 1,749.00 -1.00 61 435 5MAR 18 1,750.00 -0.50 17 270 0TOTAL 8,086 32,961 -3,805

OCT 17 1 0.00 0.00 0.00NOV 17 31 4.57 1.93 2.64ROLL’S FAIR 2.64


Markets Y O U R D A I L Y F I N A N C I A L M A R K E T S R O U N D U P

F U T U R E S . M O N E Y M A R K E T . C O M M O D I T I E S PA G E 3 1

I N S I D E R M O V E S . T R A D I N G T H E M E S . E V E N T S . F O R E X PA G E 3 0

G L O BA L M A R K E T S . B U R SA M A L AY S I A E Q U I T Y D E R I VAT I V E S PA G E 2 9

M A I N M A R K E T . A C E M A R K E T L I ST I N G PA G E 2 5RESEARCH: TAI TS [[email protected]; SUGUMARAN [[email protected]]

CONTRACT SETTLEMENT CHANGE HIGH LOW

KUALA LUMPUR: Last-minute bargain hunting dampened losses but could not help lift the FBM KLCI out of the red yesterday, after the index was dragged down by a slew of foreign sell-off s an hour before close. Th e benchmark index eked minimal gains in early trade and traded mostly sideways throughout the day before the steep sell-off , hitting a low of 1,742.6 before closing at 1,747.92, down 0.02% or 0.43 points. “Foreign funds sold off non-government-linked company (GLC) shares such as British American Tobacco, Genting and Sime Darby,” said Inter-Pacifi c Securities research head Pong Teng Siew. “Th e local funds have bought into GLCs like Tenaga National Bhd, but there was more profi t-taking after a few days of uptrend,” he told theedgemarkets.com. Th e local equity market also took cue from news about uncertainties on the highly anticipated tax cut bill in the US, which has a self-imposed deadline set yesterday, added Pong. Wall Street pulled back from record-high territory on Monday, weighed down by a drop in drugmaker Merck and a report that US lawmakers are discussing gradual phase-in corporate tax cuts rather than reducing it all at once, Reuters reported. Across Asia, Hong Kong’s Hang Seng Index slipped 0.32%, South Korea’s Kospi rose 0.86%, while Japan’s Nikkei 225 traded fl attish to close 0.06 points lower. Bursa Malaysia saw 420 gainers and 412 losers, while 461 counters traded unchanged. Some 3.15 billion shares were traded, for a total value of RM2.78 billion. — by Adam Aziz

FBM KLCI in the red despite late bargain hunting

KLCI CHANGE CLOSE VOLUME POINTS (RM) (RM) ('000)TENAGA NASIONAL BERHAD 1.86 0.200 15.000 14304.6TELEKOM MALAYSIA 1.48 0.240 6.350 9945.4AXIATA GROUP 0.74 0.050 5.390 16739.8KLCC PROP REIT 0.71 0.240 8.000 1084.8CIMB 0.60 0.040 6.140 16527.1MAXIS BERHAD 0.39 0.030 5.950 4107.7AMMB -0.35 -0.070 4.280 2248.6YTL CORPORATION -0.36 -0.020 1.270 8860.1HONG LEONG FINANCE -0.42 -0.220 16.700 194.3MISC BERHAD -0.44 -0.060 6.950 2000.9BRITISH AMERICAN TOBACCO -0.61 -1.300 39.200 662.2IOI CORP -0.62 -0.060 4.460 4716.6GENTING -0.70 -0.110 9.050 11176.4GENTING MALAYSIA -0.78 -0.080 5.030 18004.3SIME DARBY -0.78 -0.070 9.200 6531.6PETRONAS CHEMICAL -1.71 -0.130 7.370 5550.9SUB-TOTAL -0.99 OTHERS 0.56 GRAND TOTAL -0.43

1,748.50 1,742.50 1,750.00 1,743.00 1,751.50 1,747.00

Market movers

DOW JONES 23,348.74 -85.45S&P 500 2,572.83 -8.24NASDAQ 100 6,227.59 14.12FTSE 100 7,487.81 -17.22AUSTRALIA 5,909.02 -10.06CHINA 3,393.34 3.01HONG KONG 28,245.54 -90.65INDIA 33,213.13 -53.03

INDONESIA 6,005.78 31.71JAPAN 22,011.61 -0.06KOREA 2,523.43 21.50PHILIPPINES 8,365.26 69.31SINGAPORE 3,374.08 -1.89TAIWAN 10,793.80 36.93THAILAND 1,721.37 2.71VIETNAM 837.28 -7.92

CLOSE CHANGE CLOSE CHANGE

World equity indices

TURNOVER CHANGE CHANGE PRICE PE DIVIDEND (‘000) (RM) (%) (RM) RATIO YIELD (%)

Daily top 20 active stocks

NESTLE 88.500 0.740TASEK 12.900 0.300TM 6.350 0.240KLCC 8.000 0.240PETRONM 11.700 0.200TENAGA 15.000 0.200SOP 4.580 0.170AIRASIA 3.340 0.160MMCCORP 1.990 0.150PMETAL 4.430 0.120PMETAL-WC 4.050 0.120HENGYUAN 8.470 0.110

BAT 39.200 -1.300PERSTIM 5.030 -0.670HLFG 16.700 -0.220AIRPORT 8.280 -0.170DKSH 4.680 -0.170BKAWAN 19.800 -0.140PETDAG 23.960 -0.140PCHEM 7.370 -0.130LAFMSIA 6.960 -0.120BLDPLNT 8.380 -0.120MBSB-C6 0.040 -0.110GENTING 9.050 -0.110

UP CHANGE CLOSE (RM)

DOWN CHANGE CLOSE (RM)

Top gainers and losers (ranked by RM)

MMCCORP-C8 0.110 83.33AKNIGHT 0.220 83.33MMCCORP-C6 0.025 66.67MMCCORP-C7 0.025 66.67APFT-WA 0.015 50.00HUAAN 0.310 34.78CSL 0.065 30.00AIRASIAC55 0.045 28.57MHB-C3 0.045 28.57AIRASIAC56 0.140 27.27AIRASIAC53 0.120 26.32AIRASIAC58 0.145 26.09

MBSB-C6 0.040 -73.33MBSB-C1 0.005 -66.67MBSB-C5 0.065 -56.67YTL-C9 0.005 -50.00GENM-C25 0.005 -50.00INARI-C7 0.085 -43.33ANNJOO-CG 0.095 -36.67IJM-C5 0.010 -33.33FBMKLCI-C1Z 0.190 -32.14YTLPOWR-C1 0.025 -28.57RHBBANK-C2 0.015 -25.00IJM-C8 0.030 -25.00

UP CHANGE CLOSE (%)

DOWN CHANGE CLOSE (%)

Top gainers and losers (ranked by percentage)

FBM KLCI & KLCI futures intraday

Daily FBM KLCI

FBM KLCI sensitivity*

FBM KLCI futures

MMCCORP-C8 0.110 83.33MMCCORP-C6 0.025 66.67MMCCORP-C7 0.025 66.67APFT-WA 0.015 50.00AIRASIAC55 0.045 28.57MHB-C3 0.045 28.57AIRASIAC56 0.140 27.27AIRASIAC53 0.120 26.32AIRASIAC58 0.145 26.09NEXGRAM-WC 0.025 25.00GENTINGC42 0.025 25.00TENAGA-C39 0.130 23.81

MBSB-C6 0.040 -73.33MBSB-C1 0.005 -66.67MBSB-C5 0.065 -56.67YTL-C9 0.005 -50.00GENM-C25 0.005 -50.00INARI-C7 0.085 -43.33ANNJOO-CG 0.095 -36.67IJM-C5 0.010 -33.33FBMKLCI-C1Z 0.190 -32.14YTLPOWR-C1 0.025 -28.57RHBBANK-C2 0.015 -25.00IJM-C8 0.030 -25.00

UP CHANGE CLOSE (%)

DOWN CHANGE CLOSE (%)

Top gainers and losers - warrants (ranked by percentage)

HUAAN 272,148 34.78 0.080 0.310 0.350 0.300DNEX 91,669 2.11 0.010 0.485 0.505 0.475DATAPRP 88,975 17.50 0.035 0.235 0.245 0.205MUIIND 67,172 25.00 0.045 0.225 0.240 0.175MLAB 54,899 5.26 0.005 0.100 0.105 0.095XINGHE 54,768 0.00 0.000 0.060 0.065 0.060DNEX-WD 47,237 2.33 0.005 0.220 0.235 0.220BORNOIL 47,039 5.56 0.005 0.095 0.095 0.090MTOUCHE 34,395 0.00 0.000 0.195 0.215 0.195CSL 32,469 30.00 0.015 0.065 0.065 0.055TRIVE-WB 23,757 0.00 0.000 0.040 0.045 0.040MLAB-WB 22,368 0.00 0.000 0.040 0.045 0.035PTRANS-WA 21,960 0.00 0.000 0.190 0.200 0.185M3TECH-WA 21,073 7.14 0.005 0.075 0.075 0.065CUSCAPI-WA 19,106 -7.14 -0.015 0.195 0.210 0.185GBGAQRS-WA 18,357 8.62 0.050 0.630 0.630 0.580

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

Table above is from Reuters Volume break 3x 5-day average volume, meaning the total number of shares traded for a particular counter on the previous trading day is more than triple the average volume for the last 5 trading days. The table captures the build-up of interest in these companies and is thus a gauge of market expectations for these counters.

UNUSUAL MARKET ACTIVITIES

* How stock price changes affected the index on the previous trading day

Moving average - 20-dayKL Composite Index

Volume (’mil)

Jan 2, 2008 Oct 31, 2017

1,747.92(-0.43)

1,751.71

820.0

1122.5

1425.0

1727.5

2030.0

0

300

600

900

1742

1743

1744

1745

1746

1747

1748

1749

1750

1751

1752

17:1516:3015:3014:3012:4511:3010:309:308:45

Index point

KL Composite Index

KLCI futures

1,746.50(-2.00)

1,747.92(-0.43)

OCT 17 1,743.50 -4.00NOV 17 1,746.50 -2.00DEC 17 1,748.50 -1.00

The ultimate inspiration is the deadline. — Nolan Bushnell

HUAAN 272,147.6 0.080 34.78 0.310 — 0.00TRIVE 201,088.7 -0.005 -3.57 0.135 58.33 0.00DNEX 91,669.2 0.010 2.11 0.485 12.06 1.05DATAPRP 88,975.1 0.035 17.50 0.235 — 0.00MUIIND 67,172.1 0.045 25.00 0.225 — 0.00CUSCAPI 62,666.3 -0.015 -3.57 0.405 — 0.00MLAB 54,899.4 0.005 5.26 0.100 47.50 0.00HUBLINE 54,794.8 UNCH UNCH 0.180 75.00 0.00XINGHE 54,767.5 UNCH UNCH 0.060 4.84 0.00DNEX-WD 47,237.0 0.005 2.33 0.220 — 0.00BORNOIL 47,039.0 0.005 5.56 0.095 9.57 0.00VIZIONE 45,222.2 UNCH UNCH 0.165 126.92 0.00MTOUCHE 34,394.5 UNCH UNCH 0.195 47.56 0.00CSL 32,468.9 0.015 30.00 0.065 6.33 0.00DUTALND 31,460.5 -0.055 -7.53 0.675 214.71 0.00UMWOG 30,911.0 UNCH UNCH 0.320 — 0.00KEYASIC 27,440.0 -0.015 -5.77 0.245 — 0.00DGSB 26,391.7 UNCH UNCH 0.050 83.33 0.00TRIVE-WB 23,756.5 UNCH UNCH 0.040 — 0.00SUMATEC 23,622.8 UNCH UNCH 0.050 — 0.00

1,747.92 0.43 6,940.17 39.26 3,374.08 1.89 22,011.61 0.06 28,245.54 90.65 23,348.74 85.451,747.92 0.43 6,940.17 39.26 3,374.08 1.89 22,011.61 0.06 28,245.54 90.65 23,348.74 85.45KLCI FBM ACE FTSTI NIKKEI HANG SENG DOW JONES1,747.92 0.43 6,940.17 39.26 3,374.08 1.89 22,011.61 0.06 28,245.54 90.65 1,747.92 0.43 6,940.17 39.26 3,374.08 1.89 22,011.61 0.06 28,245.54 90.65

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