FRIDAY APRIL 22, 2016 ISSUE 2152/2016 FINANCIAL DAILYtefd.theedgemarkets.com/2016/TEP/20160422gxbg37.pdf · Celcom will not be drawn into a ... 2 FRIDAY APRIL 22, ... ed investors

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IHH unit to be Bulgaria’s largest private healthcare provider6 H O M E B U S I N E S S

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FRIDAY APRIL 22, 2016 ISSUE 2152/2016

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



1 4 C O M M E N T

Maxis’ 1Q profi t up 26% on higher post-paid revenue

Celcom will not be drawn into a price war

Malakoff allocates RM900m capex for 2016

How the fi nancial crisis made Europe stronger




Maxis’ 1Q profit up fi26% on higher post-paid revenue


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FBM KLCI 1721.47 12.56 KLCI FUTURES 1722.50 17.50 STI 2960.78 10.83 RM/USD 3.8880 CPO RM2734.00 25.00 OIL US$45.90 0.10 GOLD US$1259.70 6.30

IHH unit to be Bulgaria’s largest private healthcare provider6 H O M E B U S I N E S S

FINANCIALFINANCIALDAILYDAILY

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FRIDAY APRIL 22, 2016 ISSUE 2152/2016




1 4 C O M M E N T

Maxis’ 1Q profi t up 26% on higher post-paid revenue



How the fi nancial crisis made Europe stronger

2 FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY

For breaking news updates go towww.theedgemarkets.com

O N E D G E T V

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Talking Edge: Lay Hong’s JV aims for local and overseas expansion

BY V I C TO R I A S T I LW E L L

BY P O OJ A T H A K U R

February US home prices rise 0.4% from January — FHFABOSTON: US home prices rose 0.4% in February from the prior month, according to the Fed-eral Housing Finance Agency (FHFA), as job growth fuelled demand for a scant supply of listings. Th e gain matched the median estimate of 19 econo-mists, according to data com-piled by Bloomberg. Prices climbed 5.6% from a year ear-lier, the agency said yesterday in a report from Washington. “You’ve got increasing numbers of buyers coming up against a stock of existing homes that’s essentially unchanged since the beginning of 2012,” said Matthew Pointon, US econ-omist for Capital Economics Ltd. “Th at leads to high prices because it becomes a sellers’ market.” — Bloomberg

Indonesia hopes forEuropean Union free-trade dealBRUSSELS: Th e European Un-ion (EU) has agreed to start free-trade talks with Indonesia, EU Commission president Jean-Claude Juncker said yester-day, as the growth-hungry bloc presses for improved economic ties with Asian countries. Junck-er said he and EU Trade Com-missioner Cecilia Malmstrom made progress on Wednesday in discussions with Indone-sian President Joko Widodo. “We have concluded yesterday (Wednesday) ... preparatory dis-cussions for a comprehensive economic partnership agree-ment and that’s good news both for Indonesia and the European Union,” Juncker told a joint news conference yesterday. — Reuters

RM713m KP OrionTower to be tallestbuilding in East CoastKUANTAN: Th e RM713 million KP Orion Tower, a 28-storey building, would be the tallest building in the East Coast come end-2018. Michael Orion Sdn Bhd chairman, Michael Ong, said the KP Orion Tower site was located on a 414ha land leased by Kuantan Port Au-thorithy. “Begining Septem-ber, the tower will be built in three phases on 6ha at the Free Trade Zone,” he told reporters. “Th e tower will house three- and four-star hotels, design-er-brand outlets and smart-space offi ces.” — Bernama

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Filepic of a Lloyds Bank branch in central London. Lloyds said the job cuts are part of the reduction of about 9,000 roles. Photo by Reuters

LONDON: State-backed Lloyds Banking Group is axing about 625 jobs, according to the Unite union, making a further round of job losses under an aggressive cost-cutting plan.

Th e cuts apply mainly to back-of-fi ce roles and more than 80 IT roles will be transferred from Britain to India, Unite said.

“Unite has made it clear that ‘effi ciency’ cannot simply mean axing more jobs while expecting the same work to fall on fewer shoul-ders,” Unite said. “Th e bank forgets that these relentless cuts have a human cost.”

Th e job cuts are part of the re-duction of about 9,000 roles, rough-ly 10% of its workforce, announced two years ago.

Lloyds said there would be a net reduction of 430 jobs when newly created roles are included. It is closing 21 branches in July as customers increasingly bank online and more functions are automated.

Lloyds was rescued with a £20.5

WASHINTON: Jobless claims un-expectedly decreased to the lowest level since 1973 as the US labour market remains a pillar of support in the world’s largest economy.

New applications for unem-ployment benefi ts fell by 6,000 to 247,000 in the week ended April 16, data from the US Labor Depart-ment showed yesterday. Th e medi-an forecast of economists surveyed by Bloomberg called for 265,000 claims. Th e number of Americans already on benefi t rolls declined to a more than 15-year low.

Limited dismissals signal that employers are still optimistic about the US demand outlook. Econo-mists are banking on the job mar-

Lloyds axing about 625 UK jobs — unionIn a further round of cuts under aggressive cost-cutting plan

billion taxpayer-funded bailout dur-ing the 2007 to 2009 fi nancial crisis, leaving the state holding 43%. Th e government has since reduced its holding to less than 10%, raising around £16 billion (RM89.4 billion).

Earlier this year, Lloyds reward-ed investors with a surprise £2 bil-lion payout, as the bank moves closer to returning to private hands.

Unite said the latest job losses will be followed by a recruitment freeze in several divisions, while

many staff will have to go through a new assessment process, increas-ing fears of further cuts.

Th e union said three out of four staff are reporting symptoms of stress, while four out of fi ve are work-ing unpaid overtime every week.

“Where it is necessary for employ-ees to leave the company, it will look to achieve this by off ering voluntary redundancy,” Lloyds said in a state-ment. “Compulsory redundancies will always be a last resort.” — Reuters

US jobless claims unexpectedly drop to lowest level since 1973

ket to support consumer spending and help prop up economic growth after a weak fi rst quarter.

“Overall, the trend remains one of low initial claims for unemploy-ment and is generally still indicative of a strong labour market, which should remain supportive of spend-ing and housing activity,” Gregory Daco, head of US macroeconomics at Oxford Economics Ltd, said be-fore the report. “It’s reassuring to see that businesses are still hiring and that they’re not laying off as much.”

Economists’ estimates in the Bloomberg survey for weekly job-less claims ranged from 245,000 to 285,000. Filings, which are the low-est since the week ended Nov 24, 1973, fell from an unrevised 253,000.

While claims were estimated for

Washington DC, there was nothing unusual in the data, according to the US Labor Department.

Th e four-week moving average of claims, a less volatile measure than the weekly fi gures, decreased to 260,500 from 265,000.

Th e number of people continu-ing to receive jobless benefi ts fell by 39,000 to 2.14 million in the week ended April 9, the fewest since No-vember 2000. Th e unemployment rate among people eligible for ben-efi ts held at 1.6%. Th ese data are reported with a one-week lag.

First-time claims have held be-low 300,000 — a level economists typically associate with robust la-bour conditions — for 59 consecu-tive weeks, the longest such stretch since 1973. — Bloomberg

SINGAPORE: Gambling tycoon Shel-don Adelson, whose Las Vegas Sands Corp owns Singapore’s landmark Marina Bay Sands, said he’s consid-ering selling the casino resort’s retail assets after a government-imposed moratorium expires next year.

Th e company had spoken to po-tential buyers, chairman Adelson said in a conference call after Las

Sands’ Adelson mulls Singapore mall sale after restriction endsVegas-based Sands announced fi rst-quarter results on Wednesday.

“We have been approached. We have been talking to people,” said Adelson. Capitalisation rates at the 800,000 sq ft (74,322 sq m) mall, locat-ed in Singapore’s prominent down-town district, “are attractive, and we may or may not sell a portion”.

Th e world’s largest casino op-erator missed analyst estimates as profi t shrank amid a sharp decline

in gambling at Sands China Ltd, its main Macau unit. The Hong Kong-listed company’s shares fell 4.9% to HK$29.05 (RM112.71) by the close of trading yesterday, the lowest level in more than a month, even as Adelson bet Macau would see future improvement from mass-market gamblers and tourists.

Las Vegas Sands “always has thoughts of monetising anything” except its core casino assets, Adelson

said. Th e company’s casino licence in Singapore doesn’t allow it to do so until 2017, and the 82-year-old said he will discuss this when he meets the city state’s government next month.

In Singapore, casino revenue at Marina Bay Sands plunged 28% to US$453.1 million (RM1.76 billion) in the fi rst quarter, while mall reve-nue decreased 2% to US$39 million, according to the parent company’s statement. — Bloomberg

4 H O M E B U S I N E S S FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY

Malaysia pays bigger premium in debt saleAs 1MDB delays interest payment

BY C H E S T E R TAY

BY TA N S I E W M U N G

KUALA LUMPUR: Malaysia paid a bigger premium to bondholders to own some of its new Islamic debt as a delayed interest payment by its troubled state investment fund weighed on demand.

Th e government priced US$1 bil-lion (RM3.88 billion) of 10-year notes at a wider spread than an off ering a year ago. Th e sale, which also includ-ed US$500 million of 30-year notes, drew US$6.3 billion of orders, com-pared with US$9 billion for an issu-ance of the same size in April 2015.

Malaysia warned investors that it faces as much as US$4.5 billion in potential liabilities as government investment company 1Malaysia Development Bhd (IMDB) remains locked in a dispute with Abu Dha-bi’s sovereign wealth fund over debt obligations. Th e disagreement has led to a delay in an interest payment of US$50 million on 1MDB bonds, hurting confi dence in the sovereign fund just when the outlook for the oil exporter was improving amid a stabilisation in crude and strength in the ringgit.

“The 1MDB risk might have spooked investors’ sentiment this round as it reemerged when the deal was about to close,” said Fakrizzaki Ghazali, a Kuala Lum-pur-based strategist at RHB Re-search Institute Sdn Bhd.

Abu Dhabi’s International Pe-troleum Investment Co (IPIC) en-tered an agreement with 1MDB in May 2015 to provide the latter with cash to settle some liabilities in ex-change for a transfer of assets, as well as assume interest obligations on US$3.5 billion of debt. Th e failure to repay the loan of US$1.1 billion

means 1MDB and its sole share-holder, Malaysia’s fi nance ministry, are eff ectively in default, IPIC said in a stock exchange fi ling last week.

Th e government addressed its potential liability in the 1MDB-IPIC dispute in the sukuk off ering document. If 1MDB is unable to make payments as they fall due, “the government does not believe that any amounts that it would be required to pay with respect to the indebtedness of 1MDB would be material to the government.”

1MDB’s president Arul Kanda Kandasamy said in an interview with Bloomberg on Tuesday that he sees an “amicable resolution” with IPIC. It remains unclear who will honour the interest payment that was due on Monday and has a fi ve-day grace period.

While Malaysia paid a bigger pre-mium over US Treasuries for the 10-year bonds, the spread was narrower on the 30-year debt compared with the 2015 issuance. Th e sukuk due in 2046 was sold at 4.08%, a premium of 145 points versus 170 previously. Th ose due in 2026 were sold at 3.179%, a spread of 135 basis points (bps) compared with last year’s 115bps.

“Market sentiment in the Asian dollar credit space is still margin-ally positive,” said Winson Phoon, a fi xed-income analyst at Maybank Investment Bank Bhd in Kuala Lum-pur. “Th e recent negative news fl ow is seemingly a replay of what hap-pened a few months back, and this time round it doesn’t seem to have impacted negatively on the pricing for this sukuk.”

Th e funds raised will partly be used to refi nance US$1.2 billion

of Islamic bonds maturing in July. Malaysia’s existing 10-year sukuk, sold in April 2015 at a coupon of 3.043%, yielded 3.04% yesterday, while the 4.236% securities due in 2045 were paying 3.97%, data com-piled by Bloomberg show.

For the 10-year sukuk, 65% was taken up by investors in Asia, 19% from the Middle East, 11% in Eu-rope and 5% in the United States, according to an emailed statement from the fi nance ministry. About 54% of the 30-year debt was distrib-uted to Asia, 12% to Europe, 24% to the US and 10% to the Middle East.

“We are pleased with the in-vestors’ response and confi dence in Malaysia’s credit standing,” Tan Sri Dr Mohd Irwan Serigar Abdul-lah, secretary-general of Treasury at the Ministry of Finance, said in the statement. “Th is is a remarka-ble achievement as demonstrated by the tight pricing and excellent response on this landmark sukuk.”

While sentiment for the ringgit improved, the cost to insure the nation’s sovereign bonds increased this week as the saga over 1MDB took on a new twist. Th e govern-ment’s debt is rated the fourth-low-est investment grade by all the three major ratings companies.

Five-year credit default swaps on Malaysia’s sovereign debt climbed to a six-week high of 168 on Wednesday, according to CMA prices. Th e con-tracts rose above 245 in September, the highest in more than six years.

CIMB Group Holdings Bhd, HSBC Holdings plc, JP Morgan Chase & Co. and Malayan Banking Bhd. were the joint bookrunners and lead manag-ers. — Bloomberg

KUALA LUMPUR: Rubber glove prices, which have increased since early this month, are expected to rise further on costlier raw materials and as Malaysian manufacturers contend with a stronger ringgit.

Malaysian Rubber Glove Man-ufacturers Association (Margma) said in a statement yesterday that the industry has also taken into account the impact of the antici-pated rise in minimum wage and the natural gas price.

“Prices of rubber gloves are ex-pected to rise further on the back of a continuous rise in the costs of production inputs, including nat-ural rubber latex and nitrile latex, which are the two main ingredients in glove making.

“Adding to the cost of raw ma-terial rises, the weakening of the US dollar against our ringgit also means that glove manufacturers will be getting less ringgit for their exports,” Margma said.

According to the association, the natural rubber latex price has increased to an average of RM4.55 a kilogramme (kg) now, from RM3.55 a kg in February this year.

Meanwhile, the price of synthet-ic rubber or nitrile latex has risen to the current average of US$1,020 a tonne (RM3,957.6), from US$960 a tonne in February.

Margma also noted that the ring-git has strengthened to about 3.88 against the US dollar now, from a high of 4.58 last year.

“Th us, it is absolutely necessary for glove manufacturers to increase their prices in order to pay for the increased production costs.

“Th e exchange rate has a direct bearing on profi tability and this sit-uation is very closely monitored by all manufacturers and if need be, prices will be adjusted every two weeks instead of the usual month-ly pricing regime of the industry during this fluctuating business environment,” Margma said.

As the industry has anticipated

KUALA LUMPUR: Lysaght Galva-nized Steel Bhd, a low-profi le traf-fi c pole maker, announced yester-day that Annie Chew Meu Jong, the eldest daughter of the group’s late founder Chew Kar Heing who has been reportedly wrestling for con-trol of the group since Kar Heing’s demise in 2014, does not actually have a substantial stake in the group.

Th is is despite her position as man-aging director (MD) of Chew Bros (M) Sdn Bhd, a private vehicle that owns a 40% stake in Lysaght (M) Sdn Bhd (Lysaght Malaysia), which in turn holds a 55.14% stake in Lysaght.

In a Bursa Malaysia fi ling yes-terday, Lysaght said “at the time of review of its draft audited accounts by the board of director, she (Meu Jong) realised that her position as MD of Chew Bros does not deem her to hold interest in Lysaght Ma-laysia”. Th e fi ling also said the grant of probate for Kar Heing’s will was obtained on July 10, 2015, and that his shares went to his estate.

In other words, Meu Jong, who is an Australian national, has ceased to be a substantial shareholder of the group since March 30, 2016. She is left with 0.076% held under her husband, Ho Lam Fook.

Meu Jong fi rst emerged as a sub-

stantial shareholder with a 55.26% indirect stake in Lysaght in late Sep-tember 2014, following her father’s passing at the age of 81 in February that same year.

Subsequently, Meu Jong has been seen as wrestling for control of Ly-saght with the stake she held.

Th e power tussle was believed to be between Meu Jong and Liew Hoi Foo, the MD of Lysaght and hus-band to Kar Heing’s second daugh-ter Chew Mee Lee. Liew is the one to whom Kar Heing passed the baton to when he retired in 2004 as MD.

Th e tension between Meu Jong and Liew apparently surfaced when Meu Jong objected to Lysaght’s proposal in

May 2014 for a share split, bonus issue and free warrants, which resulted in the plan being aborted in March 2015.

However, in late June 2015, Meu Jong had issued a statement to refute the perception of a family tussle, and pointed out that contradicting views were normal in a business.

Meu Jong had also said that the reappointment of Liew as MD in the group’s annual general meeting held earlier that same month showed a clear indication that there was no family feud over Lysaght’s leadership.

Yesterday, Lysaght closed fi ve sen or 1.43% higher at RM3.55, giving it a market capitalisation of RM146.36 million.

Lysaght founder’s daughter Meu Jong has no substantial stake in company

M’sian rubber glove manufacturers say prices to rise further

these additional costs, prices for delivery in the forward months will be adjusted accordingly, it said, adding that all costs will be passed down to the buyers usually.

However, the association em-phasises that its members are well poised to weather these increases and believes that the industry is able to navigate this slight turbulence.

“Our prices still remain com-petitive as the rise in the cost of raw material is universal while our advanced technology production lines are very cost effi cient,” it said.

Last year, the rubber glove in-dustry recorded a RM13.1 billion export revenue in 2015, a 22% in-crease from RM10.71 billion in 2014.

Nonetheless, the news on the price hike did not lend support to the glove makers’ share prices which have been on the downtrend in the past few months. Th e world’s largest rubber glove manufacturer, Top Glove Corp Bhd fell eight sen or 1.56% to RM5.05. Year to date (YTD), the stock has fallen 25.5%.

Although its peers such as Su-permax Corp Bhd and Kossan Rub-ber Industries Bhd rose marginally by one and two sen respectively to RM2.80 and RM6.35 yesterday, both counters had depreciated 13.58% and 31.72% since the beginning of this year.

Hartalega Holdings Bhd, which was unchanged at RM4.59 yester-day, has also shed 22.7% YTD.

Filepic of Meu Jong who has ‘ceased to be a substantial shareholder of the group since March 30, 2016’.

Adding to the cost of raw material rises,

the weakening of the US dollar against our ringgit also

means that glove manufacturers will be getting less ringgit for

their exports.

www.southkey.com.my


IHH unit to be Bulgaria’s largest healthcare providerTh e RM437.3m deal involves acquiring Tokuda Group, merging with City Clinic Group

BY S A N G E E T H A A M A R T H A L I N G A M

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

BY M E E N A L A K S H A N A

BY A H M A D N A Q I B I D R I S


KUALA LUMPUR: Aeon Cred-it Service (M) Bhd recorded a net profit of RM68.13 million or 45.08 sen per share, on rev-enue of RM258.29 million for the fourth quarter ended Feb 29 (4QFY16).

For the full financial year 2016 (FY16), net profit totalled RM228.22 million or 149.02 sen per share, while revenue amounted

KUALA LUMPUR: Compugates Holdings Bhd’s 70%-owned sub-sidiary, Compugates Development and Mining Sdn Bhd, plans to dis-pose of a piece of land in Dengkil, Selangor, to Bangsawan Bumima-ju Sdn Bhd for RM62.12 million.

KUALA LUMPUR: NWP Holdings Bhd, whose share prices jumped 230% to 33 sen within a month, saw its second-largest shareholder Cashfl ow Budget Sdn Bhd sell a 7.56% stake at 25 sen in the timber product company.

Th is leaves Cashfl ow Budget with barely three million shares, or just 0.1% stake, in NWP.

According to a fi ling with Bursa

Aeon Credit’s FY16 net profi t rises 5.79%

Compugates unit to dispose of Dengkil land for RM62.12m

NWP’s major shareholder cashes out at share price rally

MOST VIEWED STORIES ONtheedgemarkets.com

Maxis 1QFY15 2QFY15 3QFY15 4QFY15 1QFY16

Net profit (RM ‘000) 410,000 441,000 420,000 468,000 518,000Subscription base (‘000) 12,192 12,214 11,956 11,579 11,164

KUALA LUMPUR: Maxis Bhd report-ed a 26.3% increase in net profi t for the fi rst quarter ended March 31, 2016 (1QFY16) to RM518 million, from RM410 million in the same quarter a year ago, mainly due to a rise in post-paid telecommunication revenue and lower operating costs.

Revenue amounted to RM2.14 billion, down by a marginal 0.4% compared with RM2.15 billion in 1QFY15, the company said in a fi l-ing with Bursa Malaysia.

Maxis said its post-paid reve-nue grew 2.3% to RM994 million in 1QFY16 from RM972 million a year ago, driven by a solid base of high average revenue per user (Arpu) for MaxisONE plan sub-scriptions.

Prepaid revenue came in 3.5% lower at RM1.01 billion, against RM1.05 billion in 1QFY15. Maxis said that while there was continued good traction on mobile Internet Arpu, subscription was impacted by price-focused competition.

Th e group declared a tax-free fi rst interim dividend of fi ve sen per share to be paid on June 29. Th e dividend ex-date falls on May 27.

Maxis chief executive officer Morten Lundal, in a separate state-ment, said the group managed to

Maxis’ 1Q profi t up 26.3% on higher post-paid revenue

KUALA LUMPUR: IHH Healthcare Bhd’s indirect 59.6%-owned Turkish entity Acibadem Saglik Hizmetleri Ve Ticaret AS plans to acquire Bul-garia’s largest healthcare provider, Tokuda Group, and merge with the City Clinic Group, in a cumulative deal amounting to RM437.3 million.

Th e transactions will lead to the creation of the largest private health-care provider in Bulgaria, and one of the leading healthcare institutions in Central and Eastern Europe, IHH said in a statement.

“This deal signifies IHH’s con-tinued commitment to expand in markets where there is a growing demand for quality healthcare.

“With this transaction, we are con-

fi dent our sustained growth path will continue to create further long-term value for our shareholders,” said IHH managing director and chief execu-tive offi cer Dr Tan See Leng.

For the fi rst deal, Acibadem en-tered into a share purchase agree-ment (SPA) with vendor Dr Torao Tokuda and Tokushukai Inc on Wednesday to acquire Tokush-ukai-Sofia EOOD and the latter’s subsidiaries (collectively Tokuda Group) for €65 million (RM286.13 million) cash.

Tokuda Group is a private state-of-the-art tertiary hospital with 550 beds, an outpatient medical centre, a clinical research centre, a pharmacy and an hospice in Sofi a, Bulgaria.

Acibadem incorporated a fully controlled company under Dutch

laws, special purpose vehicle Aci-badem City Clinic BV (Acibadem SPV), to undertake the proposed acquisition of Tokuda Group.

IHH added that Acibadem will guarantee the obligations of Aci-badem SPV pursuant to the Tokuda Group SPA, which will see the latter consolidated as an indirect subsid-iary of IHH.

In the second deal involving the merger with City Clinic Group, IHH said Acibadem and Clinical Hospital Acibadem Sistina Skopje, a 30%-indi-rect subsidiary of IHH, entered into a share sale purchase agreement with 11 entities and individuals to buy the share capital of City Hospitals and Clinics AD (City Clinic Group) and its subsidiaries for €10.97 million from shareholders who are cashing out,

with an allotment of shares equiv-alent to €23.37 million or 23.5% of Acibadem SPV to shareholders who will take part in the merged entity (rollover sellers).

Th e allotment excludes the roll-over sellers’ cash subscription.

City Clinic Group is a leading high-quality integrated healthcare provider in Bulgaria, operating in Sofi a, Varna and Burgas. It also has the only Joint Commission Interna-tional-accredited hospital in Bulgaria.

As a result of the transactions, Acibadem SPV will fully own the City Clinic Group, while its shareholding structure will be changed to 61.5% Acibadem, 15% Acibadem Sistina, and 23.5% in the hands of the roll-over sellers.

IHH’s effective interest in Aci-

report a similar revenue and profi t as last year’s “in a turbulent market context” with numerous promo-tional activities.

“We are particularly happy with the progress of our MaxisONE fam-ily, which is nearing one million customers. We are also proud of our expanding and industry leading long-term evolution (LTE) network which has reached over 74% of the country, driven by the signifi cant increase of more than 100% in 4G device penetration in our customer base,” he said.

He added that Maxis is also pro-gressing well in its transformation towards an all-digital environment, in particular welcoming a high in-crease in customers using its apps as their primary channel for inter-action.

“It’s obvious that Malaysians love the Internet and they want much more of it. For Maxis, it’s not just about providing lots of data, but also to enable our customers to do more with their data on Malaysia’s No1 network” said Lundal.

He said Maxis will announce “further innovations in this direc-tion” today.

Maxis shares closed up two sen (0.34%) at RM5.95 yesterday for a market capitalisation of RM44.76 billion.

badem SPV will be 41.2%. As such, upon completion of the deal, City Clinic Group will be consolidated as an indirect subsidiary of IHH.

Further, the shareholders of Aci-badem SPV will enter into a share-holders’ agreement to regulate their relationship in the SPV, which will contain a put option for the rollover sellers to sell their stake in the SPV to Acibadem at a consideration to be fi xed.

Th e deals are expected to be com-pleted in three months.

IHH rose one sen or 0.15% to close at RM6.68 yesterday for a market capitalisation of RM54.94 billion.

Tan: This deal signifi es IHH’s continued commitment to expand in markets where there is a growing demand for quality healthcare. Photo by Sam Fong

to RM965.23 million, the company said in a fi ling with Bursa Malaysia.

Aeon Credit did not provide comparative year-on-year fi gures as it had changed its fi nancial year end to Feb 28 from Feb 20.

However, in notes accompany-ing its results, Aeon Credit said it had recorded a 10.74% and 5.79% growth in revenue and net profi t respectively for FY16.

It said it achieved a profi t before tax of RM90.55 million for 4QFY16

Based on its bourse fi ling yester-day, the 25.09ha land is designated for agricultural use, with a net book value of RM3.76 million as at Dec 31, 2015. Its market value stood at RM60 million, as appraised by Ir-hamy and Co Chartered Surveyors Sdn Bhd.

Th e parties will execute the sale

Malaysia, Cashfl ow Budget sold 24.2 million shares in the loss-making company yesterday at 25 sen per share — eight sen or 24.24% low-er than yesterday’s closing price of 33 sen.

Sepang Heights Sdn Bhd is the largest shareholder of the compa-ny, with a 50.11% stake. Meanwhile, its chief executive offi cer Wong See Ming holds a 6.06% shareholding.

Th e timber products manufactur-er was queried by the stock exchange

(up 22.33% from 4QFY15) and of RM301.59 million for FY16 as a whole (up 4.26% from FY15. Th e 4QFY16 revenue of RM258.90 million represented a 14.1% in-crease over the RM258.29 million reported for 4QFY15.

Aeon Credit said its non-per-forming loans ratio stood at 2.47% as at Feb 29, 2016 compared with 2.76% as at Feb 28, 2015, while receivables rose 19.66% to RM5.4 billion from RM4.52 billion.

and purchase agreement within 14 working days after the pur-chaser pays a deposit of 8% of the disposal price, amounting to RM4.97 million.

Compugates closed un-changed at 4.5 sen yesterday for a market capitalisation of RM96.04 million.

on Tuesday on its recent sharp rise in share price and trading volume. However, the company informed Bursa later that it was unaware of the reasons behind the share price rally.

For the fi nancial year ended Aug 31, 2015 (FY15), NWP post-ed a net loss of RM2.22 million compared with RM3.44 million in FY14. Revenue nearly doubled to RM17.56 million from RM8.96 million in FY14.

H O M E B U S I N E S S 7FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY

CSI rises in 1Q, but people still cautiousConsumers to put spending plans on hold — Mier

BY K A M A R U L A N WA R

KUALA LUMPUR: The Consumer Sentiment Index (CSI) tabulated by the Malaysian Institute of Eco-nomic Research (Mier) rose to 72.9 points in the first quarter of 2016 (1Q16) — its first increase after six consecutive quarters of deteriorating performance. The index hit new all-time lows in the past two quarters, falling to 63.8 in 4Q15.

On a year-on-year basis, the in-dex has inched up by 0.3 points from 1Q15. However, Mier said it was still below the threshold of confi dence of 100 points — a level that Malaysians had not gone to since 2Q14.

Mier executive director Pro-fessor Dr Zakariah Abdul Rashid said the rebound in 1Q16 does not mean that people are becoming more buoyant with their fi nancial outlook. Rather, consumers have become resigned to the current economic conditions.

“Many of us agree that we are facing [a] high cost of living now. And everybody is accepting that as a fact, and there’s nothing much that

they can do about it anymore,” he told reporters after presenting the 1Q16 update at Mier’s 21st Corpo-rate Economic Briefi ng.

“The sub-indices of the CSI showed that consumers were show-ing a cautious mood on their spend-ing plans,” he said.

In its quarterly report, Mier said while consumers’ anxieties over possible price increases had abat-ed, they were still going to put their spending plans on hold at least through the fi rst half of this year.

It noted that apart from furni-ture, there were less people who wanted to buy household goods and houses in 1Q16, compared to the same period last year.

Mier added that there was an in-crease in consumers having plans to buy used cars in 1Q16, with 35% opting for a second-hand car, ver-sus 32% in 4Q15 and 27% in 1Q15.

Th e latest quarter, however, had less Malaysians fearing a worse in-come in the future, with a 9% fall to 41% compared to 4Q15.

“Financial optimism can be de-tected most signifi cantly among consumers in the low-income, east-ern, and rural categories,” said Mier, noting that 22% of consumers in these categories expect an income upgrade soon, while for urbanites it was 15%.

“Th e extent to which consum-ers’ spending will depend on their disposable incomes. Th at is why wages, salaries, and benefi ts always play a crucial role in the economy’s future,” said the institute.

“Th e question is whether or not pay raises are able to keep in line with, if not ahead of infl ation.”

Zakariah, during his presenta-tion, said he had suggested to the government to create a cost of liv-ing index, in order to better gauge Malaysians’ spending and living standards.

% (y-o-y growth) 2016 2017

Real GDP 4.2 4.5-5.5Privateconsumption 5.2 5.6Privateinvestment 5.6 6.6Exports of goodsand services 2.7 3

Mier key economic forecasts

BY K A M A R U L A N WA R

KUALA LUMPUR: Malaysian Insti-tute of Economic Research (Mier) executive director Prof Dr Zakariah Abdul Rashid said that the ringgit has stabilised to the range of 3.8 to 4 against the US dollar. However, what he cannot project is investor sentiment and confi dence towards Malaysia — which plays a huge role in the movement of the local currency exchange.

Political issues especially, he said, plays a huge role in infl uenc-ing people’s sentiment. “[Th e ring-git] It still continues to be aff ected by domestic issues pertaining to 1MDB (1Malaysia Development Bhd) and Deklarasi Rakyat,” Zaka-riah said.

“Right now I see the ringgit to be trading between 3.80 and 4 [to the US dollar by year end]. But I don’t know what would happen; next month Tan Sri Dr Zeti Akhtar Aziz will no longer be the gover-nor of Bank Negara Malaysia. I’m sure this will aff ect sentiment. We also shouldn’t discount elements of overreaction of these expected events.

“Th e sentiment and confi dence are very important; we can’t fore-cast people’s sentiment,” said Zaka-

‘Political sentiment a drag on ringgit’s movement’


KUALA LUMPUR: Business confi -dence in Malaysia picked up slightly in the fi rst quarter of 2016 (1Q16) but remains “very weak” with the fall in oil prices weighing on the economy and business revenues, according to a survey.

Th e joint survey by the Associa-tion of Chartered Certifi ed Account-ants (ACCA) and Institute of Man-agement Accountants (IMA) showed that although oil prices recovered in 1Q16, the proportion of Malay-sian companies reporting a fall in revenues rose again in the quarter.

Th is suggests that the negative eff ects of the previous collapse are still feeding through the economy, said ACCA in a statement yesterday.

“Nevertheless, Malaysia’s econ-omy has at least weathered the fall in oil prices better than most big producers, growing by a relatively healthy 4.5% in 4Q15.

“Moreover, the recovery in prices has helped to stabilise the ringgit, which is important given that Ma-laysia’s foreign currency-denom-inated external debt is unusually high,” it added.

Th e number of Malaysian com-panies reporting negative eff ects from recent currency movements fell from 66% in 4Q15 to 48% in 1Q16, said ACCA.

Business confi dence in M’sia remains very weak — ACCA

The Global Economic Con-ditions (GCE) survey by ACCA and IMA took place between Feb 26 and March 15 with 1,200 re-sponses from its members glob-ally, which included 100 chief financial officers.

ACCA Malaysia head David Chin said the global economic picture painted by the survey is “not a pretty one” if North America is taken out of the equation.

“Emerging markets are especially under pressure. Revenues for com-modities fi rms have collapsed since mid-2014. And business confi dence in China has fallen to its lowest level since our records began.

“Th is clearly has a knock-on ef-fect for Malaysia but confi dence is on the rise despite these global pressures and the nervousness in China. As a result, business confi -dence in the wider Asia-Pacifi c re-gion continued to recover from the decline in late 2015 when business-es around the region were spooked by turmoil in China’s fi nancial mar-kets,” said Chin.

Traditionally, Chin said Asia-Pacifi c was an open region that was reliant on exports, thus the slump in global trade helps explain why more businesses in the region have reported a fall of 63% in profi table opportunities and 57% in income than almost anywhere else.

riah after presenting the fi rst quar-ter’s economic update at Mier’s 21st Corporate Economic Briefi ng.

He said that Malaysia’s currency was badly aff ected last year mainly because people overreacted to cer-tain political issues. Now, however, these “non-economic issues”, in his opinion, seemed to have lost their fervour.

“Th ey are losing momentum al-ready, while the opposition keeps on trying to maintain the momen-tum. But what is the feeling of the

rakyat? Th at element is still impor-tant aff ecting the sentiment. Right now people are still following [these developments], but perhaps not as enthusiastic as before.”

Zakariah said that political is-sues aside, China’s economic slow-down can be a major factor towards the ringgit’s performance. As the world’s second-largest economy is Malaysia’s biggest trading partner, a drop in demand can aff ect Ma-laysia’s trade fi gures, which are part of the indicators investors look at.

On a bright note, he said, if crude oil prices continue to be traded above the price range of US$30 (RM116.40) to US$35 a barrel im-puted in the government’s recali-brated budget this year, Malaysia can easily achieve its 3.1% fi scal defi cit target — or an “even bet-ter” result. He assumed oil price will average between US$35 and US$45 for the year.

BY C H E N S H AUA F U I

KUALA LUMPUR: Eversendai Corp Bhd’s wholly-owned subsidiary Eversendai Energia Sdn Bhd (EESB) is being sued by Poratha Corp Sdn Bhd (PCSB) which is claiming RM7.45 million and 5% interest for fl ue gas desulfurisation (FGD) ducting, miscel-laneous piping works, fi refi ghting pip-ing works and other incidental costs.

In a fi ling to the local bourse yes-terday, Eversendai said EESB had re-ceived a signed and sealed writ sum-mons and statement of claim dated April 15, 2016 from Messrs Sandosh Anandan, acting for PCSB yesterday.

PCSB was claiming a total sum of RM7.45 million from EESB for FGD


KUALA LUMPUR: Hibiscus Petrole-um Bhd has fi led a statement of claim at Singapore’s high court against Rex International Holding Ltd (RIH) and its wholly-owned subsidiary, Rex In-ternational Investments Pte Ltd (RII), for losses suff ered from Lime Petro-leum Plc (Lime)’s interest.

Hibiscus told Bursa Malaysia yes-terday that the claim was fi led by its wholly-owned subsidiary, Gulf Hi-biscus Limited (GHL). Th is move was followed by GHL’s claims against the directors and general manager of Lime Petroleum Norway AS on April 1.

Th e claims are based on conspira-cy, wrongful interference, unjust en-

Eversendai unit sued for RM7.45m

Hibiscus claims compensation from RIH

richment and inducement of breach of contract, while the claims' estimat-ed value needs to be assessed, it said.

“Th e company and its subsidi-aries fully reserve all rights and will continue to act accordingly to safe-guard their interests,” it emphasised.

Recall GHL had bought a 35% stake in Lime for US$55 million in 2012 as its maiden acquisition to become a full-fl edged listed company from a special purpose acquisition company.

However, Lime had undergone a restructuring exercise, causing a dispute to occur between RII and Hibiscus.

Yesterday, Hibiscus rose one sen or 2.56% to 20 sen for a market capi-talisation of RM232.22 million.

ducting, miscellaneous piping works and fi refi ghting piping works with 5% interest per annum on the judgement amount calculated from the judge-ment date until the date of full set-tlement and other incidental costs.

“Th e company is of the view that EESB has a very good defence against the plaintiff ’s claims,” Eversendai said.

Th e construction company said case management is fi xed on May 16, 2016 at Shah Alam High Court.

It also said the company would make further announcement on the development of the above matter as and when necessary.

Eversendai closed two sen or 2.14% higher at 72 sen for a market capitalisation of RM553.34 million.

Zakariah: The sentiment and confi dence are very important; we can’t forecast people’s sentiment. Photo by Patrick Goh


Carlsberg expects tough year ahead


KUALA LUMPUR: CIMB Thai Bank PCL, a 93.71%-indirect sub-sidiary of CIMB Group Hold-ings Bhd, posted a consolidated net profi t of 327.3 million baht (RM36.17 million) for the fi rst quarter ended March 31, 2016 (1QFY16), an increase of 150.6% compared with 1QFY15.

CIMB Group said the high-er profit was largely due to a growth in net interest income and a decrease in operating expenses. This was, however, partially off set by lower net fee, service income and other oper-ating income.

Meanwhile, its provisions in-creased by 12.6% year-on-year (y-o-y) due to the group’s cau-tious stance amid volatile eco-nomic environment, it said in a fi ling with Bursa Malaysia.

It said CIMB Th ai’s consolidat-ed operating income increased by 11.8% to 3.32 billion baht.

CIMB Thai’s president and chief executive offi cer Subhak Siwaraksa said in a statement that the higher operating income was underpinned by higher net interest income of 476 million baht, a rise of 24.9% y-o-y, aris-ing from a growth of loans and lower interest expenses.

Its net fee and service income decreased by 18.3%, a result of

CIMB Thai’s 1Q net profi t jumps 150.6% on higher net interest income, lower operating expenses

lower debt capital market and insurance fees.

As at March 31, CIMB Th ai’s total gross loans stood at 200.4 billion baht, an increase of 0.7% from Dec 31, 2015.

The group’s deposits stood at 205.8 billion baht, a decrease of 5.7% from 218.4 billion baht at Dec 31, 2015. As a result, the modifi ed loan-to-deposit ratio increased to 97.4% from 91.1%.

Gross non-performing loans (NPL) stood at 6.2 billion baht, with a gross NPL ratio of 3%, a decrease from 3.1% as at Dec 31, 2015.

“The reduction in NPL was mainly due to more stringent credit risk assessments, effec-tive risk management policies, improvements in loan collection processes and better manage-ment,” it said.

Adhering to a more conserv-ative reserve policy, CIMB Th ai’s loan loss coverage ratio increased to 115% as at March 31, from 106.5% at Dec 31, 2015.

As at 31 March, the group’s to-tal provisions stood at 7.1 billion baht, showing an excess of 3.3 bil-lion baht over Bank of Th ailand’s reserve requirements.

Th e group’s total consolidat-ed capital funds stood at 34.6 billion baht. Th e Bank of Inter-national Settlements ratio was 15%, of which 10.8% comprises Tier-1 capital.

KUALA LUMPUR: The recent RM9.83 billion acquisition of Edra Power Holdings Sdn Bhd — itself the largest single foreign invest-ment in Malaysia — by China Gen-eral Nuclear Power Corp (CGN) puts Malaysia in a strong position to develop Asean’s power sector, Edra president and executive di-rector Datuk Mark Ling (pic) said yesterday.

He told Bernama that Edra, backed by CGN’s capitalisation of US$60 billion (RM232.8 billion), is now able to link through the Trans-Asean grids from the Phil-ippines to Sabah, down to Sarawak and Sumatera.

“We are now able to immediate-ly further enhance opportunities and commitments, opportunities which have been knocking at our door previously, but which we were unable to entertain,” he said.

CGN, the world’s leading clean energy company, completed its acquisition of Edra, Malaysia’s sec-ond-largest independent power producer (IPP) last month, which made it the country’s biggest merg-er and acquisition deal for this year.

Edra was formed in 2014 from the consolidation of three major IPPs in Malaysia — Powertek En-ergy Group, KLPP Group and Jimah Energy Group — each with an im-pressive history in the develop-ment, operation and maintenance of power plants.

Ling said the Malaysian gov-ernment had been looking at the submarine cable, which itself would have at least one belt of electric-ity to serve the re-gion from South-east Asia to China.

“Eventually, Malaysia will be

looking to go across to Bangladesh and India and the populations are here,” he said.

Edra has a portfolio of 13 pow-er and desalination plants in fi ve countries including Egypt, Bang-ladesh and Pakistan.

He said because of Edra’s back-ground in these countries, it has the privilege to understand the power purchase agreements besides being familiar with the energy commis-sions in such places.

“We have very good working re-lationships with these countries, so you would see that we were built

on these assets and relation-ships, and hence CGN sees Edra and appre-ciates the value that it represents.

“So when the company looks at valuing and revaluing its assets, it needs to tag along with all the time frame of the power purchase agreements to get the best value. So with this, the diversity of the regions and diversity of assets, it would be Europe. We may look into North Africa where Egypt is ... this is the scenario which we would like to develop,” he added.

Ling also spoke of two major features prevailing in the power industry, the ability to capitalise and fund acquisitions as well as the development works.

Edra has this, thanks to CGN, which allowed the company to pen-etrate the market in a very serious manner.

And backed by the workforce and experiences of 30,000 CGN employees, Edra would then look to regionalise and localise the areas of its operations.

“In the case of Edra, in Egypt and Bangladesh we employ mainly locals, and in Malaysia, 100% of the manage-ment is retained. Th e greatest value we can give our employees is to allow them to have the best experience and the best training so that they would be the best in the market,” he said.

On a personal note, Ling, who hails from Sarawak, said: “It has been my greatest honour looking after all the power companies in Malaysia, to be the fi rst Sarawakian leading Edra with CGN being the largest nuclear company in China.”

“And to actually have a Sarawa-kian leading Edra, it’s a great hon-our for us Sarawakians, we have to understand that we have got no barriers in convincing the rest of the world that we can do it. And I will be looking seriously into ave-nues of new energy businesses in Sarawak”. — Bernama

Malaysia poised to develop Asean’s power sector with CGN’s acquisition of Edra

Company however will not reduce investment in its brand, says managing director

BY Y I M I E YO N G

KUALA LUMPUR: Carlsberg Brew-ery Malaysia Bhd is facing a tough year as the slower economic growth in Malaysia and Singapore is pull-ing consumers away from beer, in addition to the recent increase in excise duty locally.

“We see subdued consumer senti-ment; spending power will not come up during the year,” Carlsberg man-aging director Henrik Juel Andersen told reporters after the company’s annual general meeting yesterday.

He said even though it is a tough year moving forward, there are still opportunities for growth.

“We can still improve our effi -ciency and cost management,” he

said, adding that the brewer will not reduce its investment in its brands.

Andersen, who will be assuming new position in Carlsberg group in Laos, also expressed his disappoint-ment towards the excise duty hike on March 1, which he described as “hefty”, and favours the importers of foreign beer and liquor over lo-cal beer producers.

The new tax regime saw the quantum of a tax increase on lo-cally produced beer, stout and cider, ranging from 10% to 99%.

“It has forced us to increase our price,” he said, adding that this may encourage an illicit trading of beers.

With the new tax regime, in which excise duty is based on alcohol con-tent, Andersen said the brewer does

not rule out the possibility of launch-ing products with lower alcohol content, but will always be mindful of what consumers want.

Asked if Carlsberg will further in-crease its price when the anti-prof-iteering period ends on June 30, Andersen said he would not rule out the possibility of such move.

“Th e tax increased two months ago, we did not pass all the taxes on our prices. We have to absorb part of the tax increase, which is also why we can’t rule out we will not adjust the prices,” he said.

Carlsberg passed down two thirds of the tax increase to consumers by raising its selling prices early last month. Th ere is an average price increase of 3% to 5% in its products.

Th e Price Control and Anti-Profi -teering Act 2011, via the Price Control and Anti-Profi teering Regulations 2014, forbids any net profi t margin rise for 18 months, starting Jan 2 last year, to prevent profi teering post-goods and services tax. Th e freeze in price rise will end on June 30 this year.

While majority of its revenue comes from domestic business, Andersen said Carlsberg’s export business had helped the company at times it faced fl uctuation in the local currency.

Th e company exports to Singa-pore, Hong Kong, Th ailand, Taiwan and Laos.

For its fi nancial year ended Dec 31, 2015, Carlsberg registered a slight increase of 2.05% in net profi t compared with a year ago.

THE EDGE FILE PHOTO

Andersen: We see subdued consumer sentiment; spending power will not come up during the year. Photo by Kenny Yap

We are now able to immediately further

enhance opportunities and commitments,

opportunities which have been knocking at

our door previously, but which we were

unable to entertain.

H O M E B U S I N E S S 9FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY

Celcom will not be drawn into a price warInstead it will spend smart and save costs across the board

BY C H E S T E R TAY



BY A H M A D N A Q I B I D R I S

KUALA LUMPUR: Celcom Axia-ta Bhd said profi t margin erosion is inevitable with the stiff com-petition in the local mobile tele-communication industry. Th us, it is undertaking various “smart spending” and cost-saving meas-ures across the board to support its bottom line.

It also intends to remain rational and not be drawn into a spiralling price war.

“We have to be very rational, and not be drawn into a spiralling price war,” chief executive offi cer Datuk Seri Shazalli Ramly told a media briefi ng yesterday on the launch of the company’s new mo-bile Internet data plan catering to premium segment customers.

The new data plan encom-passes an aggregate 18GB mobile Internet monthly quota, with a monthly fee of RM150 for unlim-ited voice call services.

Shazalli conceded that Celcom’s new off ering, dubbed FIRST Plat-inum, will result in a slight dip in postpaid average revenue per user (Arpu) for the second quarter of 2016, as customers switch from voice to data.

“But there will be a downward trend in Arpu, particularly when customers [begin to] migrate from voice to data. But the monetisa-tion will start when more custom-ers start using more data. We are seeing this already for those who [bought] our data plan last year. Th e increase in Arpu correlates

KUALA LUMPUR: Malakoff Corp Bhd has allocated RM900 million in capital expenditure (capex) for its expansion plans this year, of which RM700 million has been earmarked for the new 1,000mw Tanjung Bin Energy power plant.

Malakoff acting chief executive of-fi cer Habib Husin said the independ-ent power producer (IPP) is eyeing opportunities for expansion both domestically and overseas to meet its targeted capacity of 10,000mw by 2020.

Despite the large amount of capex, Malakoff will maintain its 70% divi-dend payout policy as the allocation for expansion has been fully funded, said Habib.

“We have an abundance of land bank in strategic locations where our power plants are located, so there are opportunities for domestic re-powering and expansion.

“We are also looking at opportu-nities in Southeast Asia, such as in the Philippines and Indonesia, and also in developed markets where there are pockets of opportunity, as well as the Middle Eastern and North African regions,” said Habib at the press conference after the IPP’s annual general meeting yesterday.

Habib said the group held sev-eral acquisition talks overseas, but declined to reveal the details as dis-cussions are still ongoing.

Executive vice-president Shaha-rul Farez Hassan said the new plant commenced operations last month, with an expected contribution of about RM500 million per year.

For fi nancial year ended Dec 31, 2015 (FY15), the group paid out a to-tal dividend of seven sen per share, equivalent to 77% of its earnings for the year.

Th e group reported a 33% jump

KUALA LUMPUR: Bumi Armada Bhd is claiming US$283.51 million (RM1.1 billion) from Australia-based Woodside Energy Julimar Pty Ltd for the termination of its RM1.46 bil-lion charter contract for the Armada Claire fl oating production storage and offl oading (FPSO) unit.

Th e sum comprises US$275.81 million as termination payment, and US$7.7 million for work done and materials supplied pursuant to the contract, according to Bumi Arma-da’s fi ling yesterday.

Th e claims were made in a state-ment of claim fi led and served in the Supreme Court of Western Australia by Bumi Armada’s wholly-owned unit Armada Balnaves Pte Ltd (ABPL)

KUALA LUMPUR: Th e total econom-ic cost of El Nino to Asean economies could exceed US$10 billion (RM38.80 billion) and could rise further if it persists beyond the second quarter of this year, says economist Rajiv Biswas.

Biswas, the Asia-Pacific chief economist at IHS Global Insight, said the adverse eff ects of the El Nino weather phenomenon are expect-ed to continue through the second quarter, reducing production of key commodities including rice, palm oil and sugar.

He said El Nino has created severe drought conditions in many parts of the region including Malaysia, where water levels in dams and rivers have been falling.

“Th e falling water levels in some dams may force the government to give priority to households by divert-ing water supplies away from irriga-

with the consumption of data,” he said.

Celcom’s postpaid Arpu for fi -nancial year ended Dec 31, 2015 (FY15) declined by 4.49% to RM85 from RM89 in FY14.

As for postpaid subscribers, Cel-com saw a fl at growth to 2.8 million subscribers as at 4QFY15. But Shaz-alli said there has been a huge jump in the number of postpaid subscrib-ers recently because of Celcom’s overall product off erings, instead of any particular product.

“We used to sell 45 postpaid plans per day, but now we sell more than 3,000 postpaid plans per day,” he said.

Earlier this month, Maxis Bhd had been accused of unfair treat-ment by favouring certain custom-ers. Th is created a social media fu-rore which led to an apology by the group’s chief executive Morten

Lundal and head of consumer busi-ness Dushyanthan Vaithiyanathan.

Meanwhile, Celcom’s chief fi -nancial offi cer Christopher Tiffi n also reiterated that the company is targeting a capital expenditure (capex) of RM1.2 billion this year, as reported by local media pre-viously.

“Last year we spent about 12% of our revenue as capex. Th is year we hope to increase to about 15% to 16%,” he told Th e Edge Financial Daily, but declined to elaborate ahead of the release of 1QFY16 fi -nancial results on May 18.

Celcom is the Malaysian unit of Axiata Group Bhd, which also has operations in countries like Indo-nesia, Sri Lanka, and Bangladesh.

Axiata closed three sen or 0.51% higher at RM5.88 yesterday, giving it a market capitalisation of RM51.7 billion.


in its net profi t to RM453.23 million for FY15, from RM341.55 million a year earlier, while revenue fell 5% year-on-year to RM5.3 billion from RM5.59 billion.

A large portion of its revenues are generated from domestic operations, accounting for 90% of its top-line, while the balance comes from its overseas operations in Saudi Ara-bia, Bahrain, Algeria and Australia.

Going forward, Shaharul said the group would either set up new plants or expand through acquisi-tions of other plants. He added that the main domestic opportunities this year would be in renewable energy, with the government’s large-scale solar generation target of 200mw per annum from 2017 to 2020.

Meanwhile, chairman Tan Sri Syed Anwar Jamalullail, said the group is bidding for waste-to-power plants projects by the Energy Com-mission and noted that the group’s gearing is still low, giving it room to raise capital if the need arises.

“Our gearing is still low at about 2.3 times, so we can still raise funds for more capex,” he said, adding that there is still space for a 1,000mw plant besides the Tanjung Bin En-ergy plant.

On the 3.93 billion dinar (RM139.78 million) suit against Malakoff ’s 35.7%-owned unit Alm-iyah Attilemcania SPA related to the seawater desalination plant in Alge-ria, Shaharul said the unit is still un-dergoing the appeal process.

“Th at’s still going through the legal process but at this point in time, the liability has not crystal-lised. It’s still going through the appeal process and we are in the fi nal stage. Unfortunately, this may take another two to three years to resolve itself, given the experience we have had with the legal system in Algeria,” he said.

‘El Nino’s economic cost to Asean could exceed RM38b’

tion uses in some Malaysian states,” he said in a statement yesterday.

Biswas said El Nino has also im-pacted palm oil production in Ma-laysia and Indonesia which together account for 85% of global output.

Malaysian palm oil production volume in March 2016 was 18% lower year-on-year, he noted.

Persistent drought conditions in Sabah, which produces 12% of world palm oil output, have reduced the outlook for Malaysian palm oil pro-duction and have pushed up palm oil prices during the last two months, he added.

Biswas said that in Th ailand, El Nino has caused severe drought in some farming regions, and will re-duce output of key Th ai agricultural crops, including rice and sugar.

The overall impact of El Nino could detract over 0.5% from Th ai gross development product (GDP) growth in 2016, he said.

Bumi Armada seeks US$283.51m from Woodside against Woodside yesterday.

Th is follows the writ of summons fi led by ABPL against Woodside on March 14 after the purported ter-mination of the FPSO contract by Woodside via the issuance of a no-tice on March 4.

Th e writ then had sought for an unquantifi ed amount of damages from the repudiation of the contract.

“Under the statement of claim, ABPL has made a claim for damages in general for such repudiation, and the amount of such damages has now been quantifi ed by ABPL to in-clude the sum of US$275,813,698.63 (being the amount of the termi-nation payment to which ABPL is entitled had the contract been terminated without breach),” said Bumi Armada.

It is also seeking any addition-al damages for loss of bargain caused to ABPL as a consequence of Woodside’s repudiation of the contract. Further, an additional sum of US$7.7 million is sought for work done and materials supplied pursu-ant to the contract, it said.

Bumi Armada said it was of the view that there are reasonable grounds to expect a favourable out-come with respect to ABPL’s primary claim against Woodside on the repu-diation of the contract.

Bumi Armada’s shares closed 2 sen or 2.58% higher at 79.5 sen yes-terday, valuing it at RM4.66 billion. Th e termination of the FPSO con-tract had previously sent its shares tumbling from RM1 on March 4, to as low as 71 sen on April 18.

Celcom Axiata chief marketing offi cer Zalman Aefendy Zainal Abidin (left) and Shazalli (right) with senior management at the launch. Photo by Shahrin Yahya

1 0 ST O C KS W I T H M O M E N T U M FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY

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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.

BRO K E R S’ C A L LSHARES in Ikhmas Jaya (fundamental: N/A, valuation: N/A) triggered our momentum algorithm for the fi rst time yesterday. Its share price rose 4.03% to 77.5 sen — high-est closing in six months with 28.1 million shares traded.

On Wednesday, AmInvest Research main-tained a “buy” call for Ikhmas Jaya with a target price of RM1. On April 11, Ikhmas Jaya agreed and accepted a letter of award from MRCB Sentral Properties Sdn Bhd to undertake subcontract foundation works

for the proposed exhibition centre and ho-tel at Plot P of the Cyberjaya City Centre development.

The contract value of the project is RM32.86 million and will last seven months with an expected completion date on Nov 30, 2016. Ikhmas Jaya is principally engaged in engineering and construction involving piling and foundation works, bridge con-struction, building construction and other civil works. Ikhmas was listed on July 27, 2015 with an initial off ering price of 57 sen.

SHARES in OKA Corp Bhd (fundamental: 2.4/3, valuation: 1.8/3) went up 4.52% or 4.5 sen to its fi ve-year high of RM1.04 with 2.94 million shares changing hands. OKA last featured in “Stocks With Momentum” on Feb 17 and has since increased 10.1%.

Year to date, the stock is up 12.4%. In its third fi nancial quarter ended Dec 31, 2015, the group’s net profi t grew 2.44% to RM5.33 million although revenue slipping 3% to RM37.7 million. For the cumulative nine

months ended Dec 31, 2015, its net profi t expanded 13.5% to RM151.1 million albeit revenue dropping 6.34%.

OKA is currently trading at a trailing price-earnings ratio of 10.05 times and is 1.23 times its book value. Its balance sheet as at Dec 31, 2015 was commendable with its cash balance increasing 166.6% to RM17.4 million and maintaining a zero borrowing. Its average 10-year dividend was also quite decent at 5.09%.

SHARES in Wang-Zheng Bhd (fundamental: 2.1/3, valuation: 2.6/3) were unchanged at its three-month high of 76 sen, with barely 100,000 shares changing hands yesterday.

On April 6, the board of directors of Wang-Zheng proposed the payment of a fi rst and fi nal single-tier dividend of 6% or three sen per share in respect of the fi nancial year end-ed Dec 31, 2015, subject to the approval of the shareholders during the next annual general meeting. In its fourth fi nancial quarter end-

ed Dec 31 2015, the group’s net profi t surged 89.6% to RM1.98 million while its revenue improved 12.2%. Th e improved profi t was mainly due to improved sales and margin in the processed paper products segment.

It is currently trading with a trailing price-earnings ratio of 8.86 times and is 0.71 times its book value. Wang-Zheng also has a decent average 10-year dividend of about 4.61%. Th e company has been profi t-making for the last 10 years.

Public Bank Bhd(April 21, RM19.10)Maintain buy with a target price (TP) of RM21.80: Public Bank Bhd (PBB) report-ed a fi rst fi nancial quarter ended March 31, 2016 (1QFY16) net profi t of RM1.3 billion (+5% year-on-year [y-o-y]), which is within our and market’s expectations.

Operating income was largely in line with our estimate, underpinned by robust non-interest income growth (+12.4% y-o-y), driven by exceptionally strong foreign-exchange (forex) income (+77.6% y-o-y), fees and unit trust in-come; and a 10% growth in fund-based income, with net interest margin (NIM) staying fl at y-o-y at 2.2%. Meanwhile, lower impaired loan allowances (-11% y-o-y) resulted in an annualised net credit cost of 10 basis points (bps), out-performing our forecast of 18bps for 2016, as we did not factor in recoveries.

Th e increase in operating expenses (+12.2% y-o-y) has resulted in an uptick of 50bps y-o-y in 1QFY16 cost-to-income ratio to 31.5%. On a quarter-on-quar-

Eastern & Oriental Bhd(April 21, RM1.59)Maintain trading buy with a lower tar-get price (TP) of RM2.20: Eastern & Oriental Bhd (E&O) confi rmed that it will terminate the proposed listing of its overseas assets due to unstable global market conditions and exchange-rate volatility. It was reported earlier that it might defer the listing due to the weak UK stock market conditions.

To recap, the group had earlier planned to list its overseas assets on the Alternative Investment Market (AIM) of the London Stock Exchange, which would serve as its UK platform to invest abroad and also deconsoli-date its debt (the net debt is expected to be reduced to 0.54 times with the proposed listing).

Now, with the listing terminated, the group’s net gearing is expected to be hovering at about 0.7 times. We un-derstand that the group would incur about £1.4 million (RM7.81 million)

Public Bank’s 1Q net profi t within expectations

ter (q-o-q) basis, core net profi t declined by 11.2% due to a sharp credit recovery in 4QFY15 and a 5.3% q-o-q increase in overheads. Th ough operating income is still holding up well q-o-q, our 2016 fore-casts have taken into account a potential moderation in earnings driven by NIM compression and slower loan growth.

PBB’s loans saw an annualised growth rate of 8.4% (5.5% after including eff ect of forex translation) versus industry growth of 2% and an annualised growth rate of 10.1% for deposits (7.3% after including eff ect of forex translation) compared to an industry contraction. In order to counter a potential moderation in earnings driv-en by slower future loan growth and po-tential NIM compression, management reiterated plans to boost non-interest income growth via sales of unit trusts, structured products and increasing sourc-es of fee income.

Maintain “buy” on PBB, with a 12-month TP of RM21.80, at a 2.5 times price-to-book value multiple on a 2016 return on equity of 14.5%. — Affi n Hwang Capital, April 21

Eastern & Oriental’s proposedAIM listing terminated

cost in relation to the proposed fl otation. As such, we adjusted our fi nancial year 2016 net profi t by about -9% to account for the listing cost. Th is came as a nega-tive surprise for us as we had expected the group to deconsolidate its overseas debt to lighten its balance sheet. Its net gearing as at third fi nancial quarter ended Dec 31, 2015, stood at about 0.7 times, which could go higher if presales are slower than expected or the timing for the Sri Tanjung Pinang Phase 2 strategic partnership is taking longer than expected.

We maintain “trading buy”, but lower our TP to RM2.20 (from RM2.60 previous-ly), pegged higher at about 40% discount to our revised net asset value estimate of RM3.70 per share. We are of the opinion that developers should maintain strong balance sheets, especially in this diffi cult trading environment.

Earnings will be slow in the interim, given current soft demand and the newly launched projects are still at preliminary stages. — PublicInvest Research, April 21

IKHMAS JAYA GROUP 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

----

2.04-

387.40520.00

1.030.56-0.82

*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

OKA CORP 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

1.802.409.76

(0.86)1.194.48

157.35158.14

1.310.67-1.03


WANG-ZHENG 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

2.602.108.860.100.713.29

120.52158.58

0.320.43-0.79


IKHMAS JAYA GROUP BHD (-ve)

OKA CORP BHD (+ve)

WANG-ZHENG BHD (-ve)

Public Bank Bhd

FYE DEC (RM MIL) 2014 2015 2016E 2017E 2018E

Total income 8,673.4 9,545.8 9,877.4 10,573.0 11,367.1Pre-provisioning profit 6,067.5 6,630.6 6,790.3 7,163.2 7,699.3Pre-tax profit 5,814.3 6,491.4 6,275.1 6,655.8 7,200.9Net profit 4,518.8 5,062.2 4,724.3 5,012.3 5,425.2Core net profit 4,518.8 4,955.1 4,724.3 5,012.3 5,425.2Core EPS (sen) 123.7 128.3 121.7 129.1 139.7Core EPS growth (%) 6.6 3.7 (5.2) 6.1 8.2Core PER (x) 15.4 14.8 15.6 14.7 13.6ROE (%) 18.7 17.1 14.5 14.3 14.2BV/share 7.27 8.09 8.69 9.41 10.21P/BV 2.6 2.4 2.2 2.0 1.9DPS (sen) 54.0 56.0 57.0 59.0 62.0Dividend yield (%) 2.8 2.9 3.0 3.1 3.3Affin/Consensus (x) - - 0.9 0.9 1.0Source: Company, Affin Hwang forecasts, Bloomberg

B R O K E R S’ C A L L / T E C H N I C A L S 1 1FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY

ment level of 1,728.54 to a recent high of 1,729.13 on April 14, 2014. Some heavier selling at that level had caused the index to decline and move into a neutral phase for its 18-day and 40-day simple moving aver-ages (SMAs) on its short-term daily chart. However, the index’s price bars are above the 50-day and 200-day daily SMAs and this may depict a better upward phase for the FBM KLCI in the medium to longer term.

Th e index’s daily signals are mainly mixed, with its Commodity Channel Index (CCI), Directional Movement Index (DMI) and oscillator indicators showing buy signals. Its moving aver-age convergence divergence (MACD) and stochastic indicators are currently

negative though. As such, the index’s support levels are seen at 1,676, 1,698 and 1,709, while profi t-taking at the resistance areas of 1,721, 1,729 and 1,746 may cap the index’s rise.

Despite the steady tone for the FBM KLCI, we are recommending a chart “sell” on Cahya Mata Sar-awak Bhd (CMSB). Th e company is involved in cement manufacturing, construction materials, trading, con-struction, road maintenance, prop-erty development, fi nancial services, smelting and education. A check on the Bloomberg consensus reveals that four research houses cover this stock, with four “hold” calls.

Maybank Investment Bank Bhd’s analyst recently downgraded CMSB from a “buy” call to a “hold” call with a target price from RM5.05 to RM4.60. CMSB’s forward earnings growth would be driven by Sacofa Sdn Bhd’s contribution, effi ciency gains from its new cement plant,

increased construction materials demand and higher construction earnings. However, the earnings may be crimped by potential losses from OM Materials (S) Pte Ltd in 2016 and lower road maintenance earnings.

CMSB’s chart trend on the dai-ly and weekly time frames is fi rmly down. From a weekly Wave 5 and all-time high of RM5.98 (July 2015), its prices have turned down strongly on the daily and weekly time frames to a weekly Wave 3 low of RM4.03 (April 2016). CMSB has traced out a head-and-shoulders top, with a very obvious “neckline” breakdown below the key support of RM4.69.

As prices broke above their recent key critical support levels of RM4.69 and RM5, look to sell CMSB on any rallies to its resistance areas as the moving averages depict a very fi rm short- to medium-term downtrend for this stock. Th e daily and week-ly indicators (like the CCI, DMI,

MACD, oscillator and stochastic) have issued clear sell signals and now show fi rm and obvious indi-cations of CMSB’s eventual plunge towards much lower levels.

It would attract very weak buy-ing activities at the support levels of RM3.25, RM3.74 and RM4.03. We expect CMSB to witness very heavy activities at its resistance levels of RM4.09, RM4.69 and RM5. Its clear downside targets are lo-cated at RM3.73, RM3.40, RM2.67 and RM2.02.

Lee Cheng Hooi is the regional chartist at Maybank Kim Eng. Th e views ex-pressed in the article are the opinions of the writer and should not be con-strued as investment advice. Please exercise your own judgment or seek professional advice for your invest-ment decisions. Technical reports ap-pear every Wednesday and Friday.

American equity markets inched up on Wednes-day as crude oil rose to a new recent high of US$44.94 (RM174.37). Investors focused on a

slate of corporate earnings from IBM and Goldman Sachs that were gen-erally better-than-expected in results season. The Dow gained 42.67 points to 18,096.27, while the S&P 500 inched up 1.6 points to end at 2,102.4.

Th e FBM KLCI moved in a very narrow range of 16.77 points for the week with marginally higher volumes of 1.49 billion shares to 1.99 billion shares traded. Th e index closed at 1,721.47 yesterday, up 12.56 points from the previous day as blue-chip stocks like British American Tobac-co (Malaysia) Bhd, Genting Bhd, Hong Leong Financial Group Bhd, Petronas Gas Bhd, Public Bank Bhd, Tenaga Nasional Bhd and Westports Holdings Bhd caused the index to rise on buying activities. Th e ring-git remained steady against the US dollar at 3.8790 despite Brent crude rising to US$44.60 per barrel.

Th e FBM KLCI rose on a rally from the 801.27 low (October 2008) to its 1,896.23 all-time high (July 2014) and it represents an extended Elliott Wave “fl at” rebound in a “pseudo-bull” rise completed. Th e next few months’ in-dex price movements since July 2014 comprised key swings of 1,671.82 (low), 1,867.53 (high), 1,503.68 (low), 1,727.41 (high), 1,600.92 (low) and 1,729.13 (high).

Th e index managed to surpass the key 62% Fibonacci retrace-

Index may retest 1,729.13 BY L E E C H E N G H O O I

Cost initiatives remain on track to lower opexCIMB Group Holdings Bhd (April 21, RM4.92)Upgrade to buy with a higher tar-get price (TP) of RM5.50: We met CIMB Group Holdings Bhd chief fi nancial offi cer Shahnaz Jammal for company updates. We gather that the asset quality of the group’s loans in Malaysia remain stable with no upticks in impairments of retail loans as expected earlier.

Meanwhile, in Indonesia, there were no new segments showing a rise in non-performing loans oth-er than commodities (coal and coal-related loans), which had been highlighted earlier with substantial provisions already made. Provi-sions are likely to be still elevated for CIMB Niaga in the fi rst quarter of financial year 2016 (1QFY16) and 2QFY16 before improvements, albeit not drastic, are seen in the second half of FY16 (2HFY16).

Cost-rationalisation initiatives are on track and the cost-to-income (CI) ratio on business-as-usual basis is likely to improve to 53% in FY16. On business-as-usual basis, the group is targeting to control the growth of its operating expenditure (opex) to 3%

year-on-year (y-o-y) for FY16. We understand the cost initi-

atives undertaken are on track to reduce its CI ratio towards 50% under its T18 target.

For FY16, it is expected that the group’s CI ratio be improved to 53% from 55.6% as at the end of FY15. Th e benefi t of the reduction in opex from its mutual separation scheme exer-cise will be realised in FY16.

As at December 2015, CIMB Th ai branches have already been reduced to 130 from over 160 and are expected to be scaled back further from 130 to between 80 and 90 branches by 2018.

Challenges remain in growing net operating income in 1QFY16, but improvement has been seen in market business in March 2016.

We understand from the meeting that market business (fi xed income

and equity capital market) was still challenging in the fi rst two months of calendar year 2016, but in March 2016, a pickup in momentum has been seen. Meanwhile, foreign ex-change (forex) business continues to be decent due to market volatility.

Management continues to main-tain its guidance for FY16. Man-agement continues to guide a net interest margin (NIM) compression of 5 basis points (bps) to 10bps from 2.66% as at end-FY15.

By countries, NIM in Malaysia will contract by 5bps to 10bps, while in Indonesia, management is guiding for CIMB Niaga’s NIM to drop by 20bps to below 5% due to portfolio rebalancing towards higher quality credits and shorter-term working capital facilities, and its strategy to refocus on growing mortgage loans.

NIMs for Th ailand and Singapore are likely to be fl at with a marginal improvement for Singapore due to optimisation of liquidity. Th e group is maintaining its loan growth of 10% for FY16 with Malaysia growing by a single digit, Indonesia by 7% to 8%, and Th ailand and Singapore by double digits.

Th e group recorded a common equity tier 1 (CET1) ratio of 10.3% in FY15.

Over the next 12 months, we understand that the group targets to raise its CET1 ratio by 30bps to 50bps with a 4bp to 5bp uplift in the ratio coming from the group’s disposal of its 51% stake held by its two subsidiaries CIG Bhd and CIMB Niaga in PT CIMB Sun Life (insurance company in Indonesia) to Sun Life Assurance for 550 billion rupiah (RM162 million).

We upgrade to “buy” from “trading buy” with a revised TP of RM5.50 after rolling over our valuation period to FY17 at 1 times price-book multiple.

We remain positive on the group’s cost initiatives in gradu-ally lowering its CI ratio and are expecting improvement in its net profi t for FY16 and FY17.

We see sentiment on the stock improving with a pickup in foreign shareholdings to 28.2% in March 2016 from a low of 26.6% in January.

1QFY16 results of CIMB Niaga and CIMB Group are expected to be released on April 28 and May 26 re-spectively. — MIDF Research, April 21

CIMB Group Holdings Bhd FYE DEC 31 (RM MIL) 2014 2015 2016F 2017F

Net interest income 8,656 9,337 9,988 10,844Islamic banking income 1,461 1,569 1,679 1,601Non-interest income 4,029 4,490 4,352 4,464Total income 14,146 15,396 16,020 16,910Pre-tax profit 4,276 3,914 5,150 6,062Net profit 3,107 2,850 3,955 4,536Core net profit 3,159 3,411 3,955 4,536Core EPS (sen) 38.1 40.2 46.0 53.0PER (x) 12.8 12.1 10.6 9.2Net dividend (sen) 21.0 14.0 19.0 21.0Net dividend yield (%) 4.3 2.9 3.9 4.3BVPS (sen) 4.44 4.81 5.14 5.49PBV (x) 1.1 1.0 0.9 0.9ROE (%) 9.3 8.6 9.3 10.0Source: MIDF Research

1 2 H O M E FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY

Ambrin: Learn from weaknessTo avoid a repeat of the extravagance, wastefulness, abuse

KUANTAN: Government depart-ments and agencies should learn from the weaknesses pointed out by the auditor-general to avoid a repeat of the extravagance, waste-fulness and abuse.

Auditor-general Tan Sri Am-brin Buang said elements such as effi ciency, economy and eff ective-ness should always be practised in the management of public funds so that every sen spent provides maximum benefi t.

“Th e principle of value for mon-ey in government spending must be given serious attention because negative things will give a bad im-pression among the public about the ability of civil servants in man-aging their funds.

“If this happens, it will tarnish the good name of heads of departments and the agencies. Th erefore, always give serious attention in matters relating to fi nance by ensuring all procedures are followed to avoid being reprimanded by the auditors,” he said at the opening of Wisma Au-dit Pahang by the Sultan of Pahang, Sultan Ahmad Shah, here yesterday.

Also present at the ceremony were the Tengku Mahkota of Pa-hang, Tengku Abdullah Sultan Ah-mad Shah and Pahang Menteri Besar Datuk Seri Adnan Yaakob.

Th e building that costs RM19.5 million was fully completed in Jan-uary 2013 before being handed over to the National Audit Department on August 26, 2013.

Ambrin hoped government departments and agencies take measures to improve planning, implementation and monitoring to avoid project delay which will result in higher cost.

“Government agencies must also implement value management in the management of development projects. Ensure that the programmes or pro-jects really benefi t the target groups as it will raise public confi dence in the ability of civil servants,” he said.

As a professional and independ-ent body, said Ambrin, the National Audit Department strives to foster good governance among govern-ment departments and agencies en-trusted with prudent management of public funds. — Bernama

KUALA LUMPUR: Th e local ani-mation sector shows encouraging growth, notching up an export val-ue of RM101 million last year, said Communications and Multimedia Minister Datuk Seri Dr Salleh Said Keruak.

He said the local animation in-dustry was gaining ground in the overseas market, showing an in-crease in export value of RM35 million, compared with the RM66 million earned in 2014.

However, domestic sales val-ue of the industry dropped from RM137 million in 2014 to RM127 million last year, he said.

“As of Dec 31, 2015, there are 114 companies with MSC Malaysia status which are involved in the animation subsectors,” he said in reply to a question from Senator Datuk Norliza Abdul Rahim on the prospects of the local animation industry and the government’s plans to make animation films a product which could be pro-moted to generate revenue for the country.

Salleh said the ministry through its agencies such as the National Film Development Corporation (Finas), the Malaysia Digital Economy Cor-poration (MDEC) and the Commu-nications and Multimedia Commis-sion (SKMM) also put emphasis on programmes for the development of the local animation industry.

It had also drawn up a strategic plan for the development of the industry beginning 2010.

“The ministry through Finas has created the Digital Content Industry Fund to develop the cre-ative industry, including the lo-cal animation industry. Th is fund will also assist local entrepreneurs produce animation products with commercial value which can gen-erate income for the nation.

“In 2015, the government pro-vided RM10.3 million under the fund for 10 animation projects to help the production of local ani-mation fi lms.

Salleh said local animation fi lms had also penetrated the interna-tional market and the quality of production had been acknowl-edged.

Th ese include the fi lm BoBoiBoy which began screening on April 3, 2016, collecting RM16 million in two weeks.

It was also released in Indonesia on April 13.

He said examples of other local animation films and series which had penetrated the global market were Upin & Ipin, and Saladin.

He added that the ministry through MDEC also organised var-ious activities such as advisory ser-vices, promotions and supervising the participation of local anima-tion fi lms in the global platform to help market animation products and encourage income-generat-ing activities through intellectual property monetisation.

“Programmes such as brand-ing and merchandising are im-portant components which must be promoted and absorbed in the development of the local creative industry,” he said.

He added that the business of merchandising of toys, clothes, playgrounds and sale of image rights would create business op-portunities and generate income for branded products such as an-imation fi lms and short stories.

Salleh also said there was no monopoly of local animation com-panies and the government al-ways encouraged more compa-nies to be involved in the industry which has a high commercial value. — Bernama

Signs of life in local animation industry

PUTRAJAYA: Th e Court of Appeal has dismissed former Langkawi Wanita Umno member Anina Saadudin’s ap-peal over her expulsion from the party, ruling that a political party’s decision, whether right or wrong, is not subject to review or appeal in the courts.

Justice Datuk David Wong Dak Wah, chaired the three-man bench, also held that Section 18C of the Societies Act 1966 clearly exclud-ed the jurisdiction of the courts to hear or entertain disputes between members of a political party.

He said that was the intention of Parliament in enacting the law that states that disputes between mem-bers of a political party must be re-solved outside the court’s arena.

“To put it in plain and simple lan-guage, Section 18C means whatever decision, rightly or wrongly, taken by a political party is not subject to any form of review or appeal before the courts,” said Judge Wong.

Judge Wong, who sat with Justices Datuk Dr Badariah Sahamid and Har-mindar Singh Dhaliwal, said that was

the understanding or contract agreed to by all members of a political party.

“To allow any challenge of the aforesaid understanding on the ground that it is unfair and unjust or breach of natural justice in the face of Section 18C would equate to this court making or enacting law which, in our view, must remain al-ways in the purview of Parliament.

“Until such time that Section 18C has been declared unconstitutional, it remains good law and this court is duty bound to give eff ect to it,” he said.

However, the panel was of the view that there was no legal impediment to Anina to launch another action to challenge Section 18C as being ultra vires the Federal Constititution.

Th e court ordered Anina to pay RM10,000 costs to the respondents, Umno secretary-general Datuk Seri Tengku Adnan Tengku Mansor and Umno executive secretary Datuk Ab Rauf Yusoh.

Anina was appealing against the decision of the High Court which had struck out her suit against Tengku Ad-

nan and Ab Rauf after allowing the duo’s application to strike out the suit.

On Dec 7 last year, High Court Justice S Nantha Balan struck out Anina’s suit, ruling that it had no jurisdiction to hear her dispute in the party as it was clear that Section 18C did not permit the court to ad-judicate on the dispute pertaining to Anina’s membership in Umno.

On Oct 5 last year, Anina fi led the suit against Tengku Adnan and Ab Rauf seeking, among others, an order that the two termination letters issued by Tengku Adnan were invalid and had no eff ect on her membership.

Anina lost her membership in the party ipso facto when she com-menced legal action against Prime Minister Datuk Seri Najib Razak on Aug 28 last year based on Clause 20.7 of the Umno constitution.

Th e clause states that a member who brings any party matters or membership rights to court before fully complying with party regula-tions will automatically lose his or her membership. — Bernama

Court dismisses Anina’s appeal over expulsion from Umno

KUALA LUMPUR: Malaysian fi re-arms and ammunitions manufac-turing company, Aegis Malinnov Sdn Bhd, is expected to launch its first semi-automatic M1P 9mm calibre pistol by the third quarter of this year.

Its chairman, Tan Sri Datuk Hashim Meon, said the compa-ny, which was licensed by the home ministry, was in a process of apply-ing for endurance testing from the Science and Technology Research Institute for Defence (Stride).

He said the process was ex-pected to take at least two to three months to complete.

“After that, we can market the company’s fi rst pistol. As a start, we are targeting to sell it locally, to the security forces, such as the police and army as well as licensed fi rearm owners.

“After we have strengthened our reputation in the local market, we will explore wider market over-seas,” he told Bernama when met

at the 15th Defence Services Asia Exhibition and Conference at Putra World Trade Centre here yesterday.

The company’s research and development team had taken al-most six years to create the M1P 9mm calibre pistol which had met international standards and market requirements, Hashim said.

“Most of the team members have military background and high skills in handling weapons. It has cer-tainly helped us to produce the best products from our factory in Technology Park Malaysia here.

“In terms of design, we are using local expertise. However, we still use imported manufacturing ma-chines to make the pistol,” he said.

For long-term development, Hashim said the company was col-laborating with Stride and Univer-siti Pertahanan Nasional Malay-sia to develop two other military products, namely rocket-propelled grenade and mortar launcher. — Bernama

Malaysian-made pistol to enter market by year end

FOR THE PEOPLE … Sarawak’s People’s Party president Tan Sri Dr James Jemut Masing (second from left), who is also Sarawak’s land development minister, watching a traditional dance ‘Datun Julut’ before launching a public fl oating jetty and waiting facility at Balui Lake in the Bakun Dam area. He is accompanied by Hulu Rajang member of parliament Datuk Wilson Ugak Kumbong (left), Balui Lake Belaga Natives Association chairman Tony Kulleh (second from right) and Sarawak Hidro managing director Zulkifl e Osman (right). The fl oating jetty and waiting facility costing about RM800,000 is a part of the Bakun Dam operator Sarawak Hidro’s corporate social responsibility programme. Photo by Bernama

H O M E 1 3FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY

KUALA LUMPUR: Th e move to ban the use of polystyrene food containers, including plates and cups, should not just be champi-oned by Johor and Perak.

Th e ban should also be imple-mented by the rest of the coun-try to ensure rapid reduction of the styrofoam impact on land-fi lls and the environment, says Malaysian Environmental NGOs chairman Yasmin Rasyid.

“If every Malaysian dispos-es of one styrofoam container irresponsibly, we will end up with 30 million pieces of fl oating toxic waste in our river systems and oceans.

“So, the earlier we implement the ban and focus on improv-ing the systems, the faster we can reduce the impact [from the perspective of waste] on our landfi lls and environment,” she told Bernama yesterday.

Perak and Johor are moving towards a ban on polystyrene containers and plastic bags. For Perak, the ban is eff ective June next year.

Johor Menteri Besar Datuk Seri Mohamed Khaled Nordin is expected to announce the ban at the tabling of the 2017 state budget by year end.

Yasmin said while she ap-plauded the move by the two states, she nevertheless had some reservations about the matter.

“I suspect the civil society groups and non-governmental organisations will be observing closely, as a ban without eff ective enforcement is merely empty talk. We would like to see the government agencies fi rst walk the talk by banning the use of polystyrene containers in all gov-ernment cafeterias and govern-ment events.

“You can do this (the ban) overnight but you can’t expect the people to change over-night. Thus, the state govern-ment should be spelling out its step-by-step plan to the public and hope to gain their support,” she added.

Polystyrene, a non-biode-gradable material made from petroleum-based compounds, pollutes waterways, which con-tributes to flash floods when drainage systems are blocked

Polystyrene ban should cover all states, say environmentalists

RM2.9b in deals sealed at Defence Services Asia 2016A 56% increase compared with RM1.86b recorded in 2014

KUALA LUMPUR: The Defence Services Asia (DSA) 2016 Exhibi-tion and Conference sealed deals worth RM2.9 billion, a 56% increase compared with RM1.86 billion at DSA 2014.

In total, this year’s edition saw 10 contract documents and four letters of acceptance, three letters of intent and seven memoranda of understanding signed, according to data released by the organiser, DSA Sdn Bhd.

Defence Minister Datuk Seri Hishammuddin Hussein said the impressive increase in value gave a signal that Malaysia and the region’s defence industry had the capacity for even further growth.

“We look forward to the pros-pect of more deals in future DSAs,” he said at the closing ceremony of the 15th DSA, which ended yes-terday.

Th e minister said the acquisition of military assets would take time to deliver but despite the current economic challenges, parties that undertook commitments at the DSA looked at medium- and long-term relationships.

“It was no cosmetic. I went as witness only for those contracts that will roll out. Th is RM2.9 billion deals signed must be delivered,” he said at a press conference.

The four-day DSA 2016 has played host to over 300 top gov-

ernment offi cials and foreign del-egations from over 45 countries.

Hishammuddin also pointed out that the fi rst three days of the exhibition drew more than 38,000 trade visitors from over 77 coun-tries, exceeding the earlier expec-tations of 34,000.

“This year also saw a re-cord-breaking 1,200 participat-ing companies representing more than 60 countries from the global defence and security industries.

“Th is is the highest number of participants that we have attracted to date,” he said.

He also announced that DSA 2018 will be held from April 16 to 18, 2018 in Kuala Lumpur. — Bernama

KUCHING: DAP announced yes-terday that it will contest 30 seats in the 11th Sarawak state election, and has named 29 of its candidates, with the candidate for Baleh seat to be announced tomorrow.

Chong Chieng Jen said the last-minute change in the candi-date to be fi elded for Baleh seat was due to the decision of Larry Sng Wei Shin to resign as Sarawak Workers Party (SWP) president on Wednesday night.

Sng, the former assemblyman for Pelagus, was supposed to con-test the new state seat N63 Bukit Goram.

Following Sng’s decision, DAP decided to move its candidate for Baleh seat, Larry Anak Asap, to contest in Bukit Goram.

Th e party already has a potential candidate for Baleh, but will only announce it later, he told a press conference here yesterday.

Chong said most of DAP’s 29

candidates were new faces.Th ey were Mordi Anak Bimol

(Tasik Biru), Wong King Wei (Pa-dungan), Violet Yong Wui Wui (Pending), Chong Chieng Jen (Kota Sentosa), Chiew Wang See (Batu Kawah), Abdul Aziz Isa Marindo (Stakan), Sanjan Anak Daik (Mam-bong), Andrew Nyabe (Kedup) and Edward Luak (Bukit Semuja).

Leon Jimat (Simanggang), Yong Siew Wei (Repok), Ting Tze Fui (Meradong), Rinda Juliza Anak Al-

exander (Pakan), Richard Anak Lias (Ngemah), Irene Mary Chang Oi (Bukit Assek), Yap Hoi Liong (Du-dong), Chiew Sung Ngie (Bawang Assan), David Wong (Pelawan), Frankie Bendindang (Pelagus), Paren Anak Nyawi (Katibas).

Larry Anak Asap (Bukit Goram), Kenneth Adan Silek (Murum), Chiew Chiu Sing (Tanjong Batu), Leighton Manjah (Kemena), Baba Anak Emperan (Samalaju), Alan Ling Sie Kiong (Piasau), Dr Ting

Tiong Choon (Pujut), Baru Langub (Senadin) and Paul Raja (Mulu).

He said of the total, six were women, and all of them were pro-fessionals, with four of them law-yers, one a professional nurse and the other, a chemist.

“I must admit that this time around, we will have some diffi -culties in the Chinese urban seats, because of Chief Minister Tan Sri Adenan Satem’s popularity,” he added. — Bernama

DAP to contest 30 seats in Sarawak

WORLD’S BIGGEST BAG … Shoppers at the Aeon Mall in Bukit Mertajam posing for a photograph with the world’s biggest bag, which was certifi ed by the Guinness Book of World Records yesterday. An army of 1,492 participants from various non-governmental groups and government agencies used 2,984 pieces of used shirts to produce the giant bag in six months. The holdall, which is 7.62m long, 5.44m high and 3.04m wide, notched the record on May 29, 2015. The giant bag is being displayed along with various creative sewing works at shopping centres for an exhibition organised by the Creative Sewing Art Association’s Penang branch. The exhibition ends on May 1. Photo by Bernama

with plastic wastes.Yasmin also noted that be-

sides the impact on the envi-ronment, there are also health concerns due to chemicals that could leach from polystyrene packaging into hot food.

Centre for Environment, Technology and Development Malaysia chairman and execu-tive director Gurmit Singh noted that polystyrene containers or packaging took a much longer time to degrade.

“They create problems in drains, worsen litter and are a headache at landfi lls.

“Many of them also serve as mosquito breeding grounds,” he told Bernama.

Gurmit said the problems that concerned the food industry were also relevant to the wid-er use of styrofoam elsewhere but “the authorities are silent on these”.

Asked if restaurants would increase the price of takeaway foods because of the shift to us-ing biodegradable packaging, he said restaurant owners or manufacturers of the packaging should not take advantage of the situation to make higher profi ts.

Over 100 US and Canadian as well as some European and Asian cities such as Muntinlupa in the Philippines have banned polystyrene food packaging be-cause of the negative impact on humans and the environment. — Bernama

Yasmin: If every Malaysian disposes of one styrofoam container irresponsibly, we will end up with 30 million pieces of fl oating toxic waste in our river systems and oceans.

1 4 C O M M E N T FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY

How the fi nancial crisis made Europe strongerCountries responded by improving public fi nances and pushing through deep reforms

BY K A L I N A N E V J A N S E

Application icons displayed on a smartphone. The company has six products with more than a billion monthly active users each: Search, Maps, the Chrome browser, YouTube, Google Play and Gmail. Photo by Reuters

THE European Commission looks poised to accuse Google of breaking competition rules with the contracts it off ers mobile phone makers that use its Android operating system. Europe’s competition commission-er, Margrethe Vestager, indicated as much in a speech on Monday. Just as with an earlier antitrust decision on Google, the bureaucrats are wrong: It’s preposterous to accuse Google of stifl ing innovation. Yet Google shouldn’t fi ght them: It’s perfectly able to compete without trying to negotiate an unfair advantage.

Th e commission started its in-vestigation a year ago. Its gripe with Google is that the search giant is twisting phone manufacturers’ arms to preinstall a package of basic apps, including email and a suite of cloud-based offi ce programmes, and make Google the default search engine.

Vestager said in her speech that Google’s actions may be hurting other innovators: “Our concern is that, by requiring phone makers and operators to preload a set of Google apps, rather than letting them decide for themselves which apps to load, Google might have cut

Google should stop fi ghting antitrust chargesBY LEONID BERSHIDSKY off one of the main ways that new

apps can reach customers.”Mobile is where Google’s growth

is these days. According to chief executive officer Sundar Pichai, the company has six products with more than a billion monthly ac-tive users each: Search, Maps, the Chrome browser, YouTube, Google Play and Gmail. All of these are pre-installed on most mobile phones us-ing Android, and they draw eyeballs to the advertising that provides 90% of the company’s revenue. Ruth Po-rat, chief fi nancial offi cer of Google’s parent company Alphabet, said on the most recent earnings call that mobile search was the “primary driver” of revenue growth.

Google estimates that 30% of all online purchases are now made on mobile phones, making mobile ads through multiple channels both ef-fective and lucrative. A lawyer for Oracle, which is suing Google for alleged copyright infringements, revealed in a January court hearing that Google paid Apple, its leading mobile operating system competitor, US$1 billion in 2014 to be the default search engine on its mobile devices.

Th e lawyer estimated that An-droid has generated US$31 billion (RM120 billion) in revenue and US$22 billion in profi t since its 2008 launch, even though the operating

system is free to manufacturers. Th e way it makes that money — and the enormous profi t margin — is by increasing the audience for Google-served ads.

It’s natural, then, for Google to use every opportunity to make its apps prominent on any new phone, and its best shot is through Android. In the fi nal quarter of 2015, some 68% of all mobile phones sold in Europe ran Android, and in almost every case Google’s app package was installed, and Google was the default search engine.

Th e Android maker uses a combi-nation of carrot and stick to achieve this. It doesn’t pay the phone makers the way it pays Apple: Instead, it of-fers support and shares ad revenue, and also makes entry to its Google Play Store, which now features about two million apps, conditional on the preloading of its other products.

Russia was the fi rst country to declare these practices illegal. Yan-dex, the search company that beats Google in Russia, complained that it was struggling to place its apps on new phones because of Google

resistance, and the Federal Anti-monopoly Service ruled in its fa-vour. Google fought back, but the Moscow Court of Arbitration ruled against the US company last month.

Now, the same may happen in Europe. Google’s position — that manufacturers can use Android without any help from Google and that consumers make the fi -nal choice on which apps to use — will probably prove indefensible here, too. For one thing, access to the Google Play Store is the main reason Android beats most other operating systems and competes successfully against Apple’s iOS.

Abandoning restrictive agree-ments with manufacturers would go a long way toward making Google’s business model more secure, based on brand loyalty rather than nego-tiations with a small number of in-dustrial companies that will always be looking for alternatives. Google needs to take the leap — and do-ing it before the courts rule would be a strong move. As a consumer, I for one would welcome it and keep using my Google apps — but because they’re good, not because I’m lazy. — Bloomberg View

Leonid Bershidsky is a Bloomberg View columnist.

Europe is back in the game. Having suffered the worst financial and economic crisis of the last 80 years, Europe took decisive action to

improve its public finances, push through deep reforms, and estab-lish new institutions to manage and prevent crises better. The changes are structural and long-lasting and make Europe more competitive. Europe is stronger, better equipped and in the midst of ambitious new financial and economic initiatives.

Th e global crisis hit Europe twice. Th e fi rst strike came from abroad in 2007. In the United States, markets had ignored credit risk in subprime mortgage markets. A lack of fi nan-cial supervision allowed opaque fi nancial instruments to fl ourish, aggravating the problem. As a result, the US banking system underwent a dramatic bailout in September 2008.

European banks suff ered in the fallout. Two years later, a second crisis erupted in the euro area. Years of unsustainable government poli-cies had caused defi cits and debt burdens to mushroom and bloated pre-crisis wages and housing prices.

As the situation worsened, Europe took courageous decisions to put the continent back on a fi rm footing.

Five key responses combined to steer Europe out of the crisis.

First, crisis-hit countries like Ireland and Spain pushed through badly needed reforms, improv-ing public fi nances and increasing competitiveness.

Second, EU economic govern-ance was strengthened. Th e Euro-pean Commission received new powers to enforce the Stability and Growth Pact, issue country-specifi c recommendations (the European semester), and underline obstacles that need to be removed to foster growth. Eurostat, Europe’s statistical agency, became more powerful in cross-checking and challenging the data received from each country.

Th ird, euro area countries creat-ed the European Stability Mecha-nism (ESM), and its predecessor the European Financial Stability Facil-ity. Th ese institutions were a great success: No country was forced to leave the euro area, the cash-for-re-form approach worked, and growth accelerated in countries that im-plemented reforms. Importantly, no European taxpayer money was spent on the rescue programmes.

Th e ESM raises the funds needed in capital markets through highly rated bonds, and passes on the low funding cost to programme coun-tries at rates today of around 1% to 2%. Th is approach produces budget savings for programme countries, particularly Greece, which would pay much more if it were to tap cap-ital markets independently.

Fourth, the European Central Bank’s (ECB) unconventional meas-ures helped. The ECB expanded its balance sheet like the Federal Reserve, Bank of Japan and Bank of England, provided unlimited li-quidity for banks, started a bond purchasing programme to avoid low infl ation, which also made it easier for banks to lend and boost inves-tor sentiment. Th e euro weakened, which helped to increase exports.

Finally, the Banking Union was established: New institutions were

created to monitor macro-prudential risks and supervise banks, securities markets and insurance companies. Th e Single Supervisory Mechanism is the centrepiece of this initiative; it oversees the 130 largest euro area banks. During the crisis, EU banks also padded out their capital, in-creasing their capital base by €600 billion (RM2.6 trillion) since 2008.

Th e results are impressive. Th e crisis-hit countries implemented radical reforms. Th ey now head mul-tiple international rankings, earning the sobriquet “reform champions”.

Th ey did so by improving their public fi nances, reducing defi cits, and cutting labour costs to make themselves more competitive. Th e euro area outperformed the US, Japan and the United Kingdom in fiscal terms: The aggregate euro area budget defi cit was signifi cant-ly smaller than these three peers. And fi nally, some of the crisis coun-tries are becoming growth leaders. In 2015, Ireland hit a record high 6.9% gross domestic product growth and Spain 3.2%. Ireland’s growth matched China’s, while Spain’s is al-most a third again as high as the US’ (2.5%) over the same period. Th ese are extraordinary achievements.

During the crisis, Europe picked

up the pace of policy reform and inte-gration with three big initiatives that merit close attention. Th ey will set the economic and fi nancial agenda for the next fi ve to 10 years and will be key to Europe’s economic future.

Europe’s Banking Union is mov-ing forward. On Jan 1, 2016, the new European mechanism to resolve failing banks went live. Th e Single Resolution Mechanism’s goal is to resolve distressed banks at the lowest cost to taxpayers.

Th e presidents of the ECB, Eu-rogroup, European Commission, European Council and European Parliament presented a plan, the Five Presidents Report, to further deepen Economic and Monetary Union over the next 10 years, or through 2025.

Europe has put together the building blocks for a bright future; its citizens can justly be proud of these achievements. Realising this ambitious agenda will make Europe stronger, more infl uential, and en-sure it maintains its position as an economic powerhouse. — CNBC

Kalin Anev Janse is secretary general of the European Stability Mechanism.For more, visit www.cnbc.com

W O R L D B U S I N E S S 1 5FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY

Japan to fi nance US$2.6b monorail in PanamaPANAMA CITY: Japan on Wednesday agreed to fi nance a US$2.6 billion (RM10.09 billion) monorail Panama intends to have built by 2022 as an exten-sion of its young metro system, the Panamanian government said. “Th is fi nancing Japan is giving us today is recognition of the solidity and credibility of Panama,” a statement quoted President Juan Carlos Varela saying during a visit to Tokyo. Th e cost of the monorail project makes it the biggest in Panama after a massive expansion of its century-old canal, which is to be inaugurated in June after an investment of over US$5 bil-lion. — AFP

Ma says won’t interfere in SCMP editorial freedomSHANGHAI: Th e new boss of Hong Kong’s South China Morn-ing Post (SCMP), Jack Ma, has promised not to interfere in ed-itorial decisions, in an apparent bid to assuage concerns about the paper’s independence un-der his e-commerce giant Alib-aba Group Holding Ltd. Alibaba completed its US$266 million (RM1.03 billion) purchase of the SCMP, announced in December, earlier this month. “I have nei-ther the experience nor desire to interfere with the newsroom operation. I will not take part in the editorial decision-making,” Ma said in an interview with the SCMP posted on its website, but reserved the right to weigh in as a reader. — Reuters

Ericsson shares dropmost in a year STOCKHOLM: Ericsson AB shares fell the most in a year af-ter its fi rst-quarter sales missed analysts’ estimates, showing the Swedish company’s eff orts to expand beyond a shrinking wireless-network market are failing to boost growth. Sales fell 2.4% to 52.2 billion kro-nor (RM24.96 billion), the mo-bile-network equipment and software maker said yester-day. Analysts predicted 54.4 billion kronor, the average of estimates compiled by Bloomb-erg. Th e shares fell as much as 11%, the biggest intraday drop since April 2015, and declined 7.5% to 72.95 kronor at 9.17am in Stockholm. — Bloomberg

Sony cuts FY15 profi t estimate by 9.4%TOKYO: Japanese electronics fi rm Sony Corp cut its profi t es-timate by 9.4% for the fi nancial year that ended in March, as slowing global smartphone sales dented demand for its camera modules. Sony said yesterday it is estimating an operating profi t of ¥290 billion (RM10.27 billion) for the year, down from a previ-ously estimated ¥320 billion, cit-ing weaker demand for camera modules. Th e company booked an impairment loss of ¥59.6 bil-lion as it wrote down the value of the camera module business to match a weaker sales prospect. — Reuters

I N BR I E F

Mitsubishi nosedivesFuel-cheating scandal wipes US$2.5b off market value

BY G I N A C H O N

SHANGHAI: China suspended new registrations of finance companies nationwide as au-thorities started a crackdown on Internet fi nance, business magazine Caixin reported, cit-ing unidentifi ed people familiar with the matter.

Applicants with fi nance-re-lated names or businesses can no longer simply register with local offi ces of the State Admin-istration for Industry & Com-merce, Caixin reported yes-terday. Firms will instead fi rst need approvals from fi nancial regulators, it said.

The change is part of a campaign to clean up online fi nance that began last Th urs-day and will end by January next year, the magazine said. China Business News reported yesterday that the government’s eff orts will last for a year.

While the government calls it a “special Internet finance crackdown”, the campaign also covers some offl ine fi nancial businesses such as wealth man-agement, according to China Business News. Th e initiative will focus on areas such as third-party payments, peer-to-peer lending, crowdfunding and online insurance, according to the news service. — Bloomberg

‘China suspends registrations of fi nance fi rms’

TOKYO: Mitsubishi Motors shares nosedived again yester-day as panicked selling wiped about US$2.5 billion (RM9.7 bil-lion) off the automaker’s market value in just two sessions after its shock admission that it cheated on fuel-effi ciency tests.

The embattled stock went into freefall, plunging to ¥583 (RM20.65), down 20%, after los-ing 15% on Wednesday when the news fi rst broke.

Yesterday’s drop came as Jap-anese transport ministry offi cials descended on a company research and development centre in the city of Nagoya, in a sign that the gov-ernment may slap the under-fi re company with heavy fi nes over the scandal, local media said.

“Th is has critically damaged consumers’ trust and it won’t be tolerated,” top government spokesman Yoshihide Suga said yesterday. “It’s an extremely se-rious issue.”

Mitsubishi admitted on Wednesday that unnamed em-ployees rigged tests to make some of its cars seems more fuel-ef-fi cient than they were. It said it would halt production and sales of

SYDNEY: Australian banks yesterday promised unprecedented reforms to protect consumers and boost transparency following revelations of misconduct and ahead of a federal election set to be fought partly over calls for tougher sector oversight.

Th e package includes review-ing sales commissions, support-ing whistle-blower employees and blacklisting individuals for poor conduct, the Australian Bankers Association (ABA) said.

WASHINGTON: Outside sharehold-ers may need Washington’s help to stop cheap Chinese buyouts. In-vestors are miff ed at a recent wave of off ers for US-listed companies from the People’s Republic. Th e problem is that the companies are domiciled in off shore centres with fewer protections.

Cheap fi nancing and the prom-ise of higher valuations on Chinese exchanges have prompted a wave of US-listed companies to take themselves private. Since the be-ginning of 2015, executives and large shareholders at 34 companies have launched off ers with a total value of US$38 billion (RM147.4 billion), ac-

Australian banks unveil reformsBY S WAT I PA N D E Y The politically charged an-

nouncement is the fi rst coordinat-ed industry-wide step by Austral-ia’s biggest banks to clean up their act in the wake of reputationally damaging probes into wealth mis-management, insurance scams and benchmark-interest-rate rigging.

“We are very conscious that there are issues out there that people are concerned about,” ABA chief execu-tive Steven Munchenberg told report-ers yesterday. “We are now respond-ing to some of the current concerns.”

Major lenders National Australia

Bank, Commonwealth Bank, Westpac and ANZ Banking Group successful-ly pulled through the 2008 fi nancial crisis but are now facing mounting criticism over misconduct even as they continue to deliver record profi ts.

Th e plan announced yesterday, parts of which are subject to regula-tory approval or legislative reform, would be overseen by an independ-ent expert, the ABA said, although it gave no details about specific measures that would be taken.

Th e review would also look at the sensitive issue of remunera-

tion, sales targets and incentives that have encouraged mis-selling of fi nancial products, Munchen-berg said.

It comes as political pressure is piling on Prime Minister Malcolm Turnbull to order a high-powered judicial inquiry into fi nancial indus-try misconduct as he campaigns for a federal election in July. Turnbull and the ABA have rejected calls from the opposition Labor Party for a royal commission into the industry, saying the existing watchdog and self-regu-lation are enough. — Reuters

Aikawa attending a news conference on the issue of misconduct in fuel-effi ciency tests at the transport ministry in Tokyo on Wednesday. Photo by Reuters

the aff ected vehicle models — min-icars sold in Japan including some made for rival Nissan — and warned that the number of cars involved in the scandal would likely rise.

Th e embarrassing revelation fol-lows a massive pollution-cheating scandal at Volkswagen that erupted in September and which the German giant is still struggling to overcome.

Mitsubishi’s top executive con-ceded on Wednesday that the brew-ing crisis would take a bite out of the automaker’s bottom line, as it wid-ens its probe to cars sold overseas.

“This is not a simple problem

Investors need help to stop cheap Chinese buyoutscording to Th omson Reuters data.

Th ese buyouts often look favour-able to insiders. Take the US$565 million bid for Country Style Cook-ing Restaurant. Th e acquiring con-sortium controls 69% of the fast-food chain, which has more than 330 restaurants in south-west China. Even though its off er was pitched at a measly 10% premi-um, and infl uential proxy adviser Institutional Shareholder Servic-es recommended voting against it, shareholders overwhelmingly approved the deal on Wednesday.

Or consider the US$1.4 billion bid for Chinese social networking site Renren, led by two executives who control 49% of votes. Angry investors think the price should be

much higher, pointing to Renren’s 25% stake in fi nancial start-up SoFi, which could be valued at US$30 billion in an initial public off ering.

Shareholders have little option but to fume, though. Th at’s because many US-listed Chinese fi rms are domiciled in the Cayman Islands. Th e off shore centre allows investors to wave through deals on a simple two-thirds majority of the votes cast. By contrast, US states like Delaware require a majority of independent shareholders to approve any trans-action involving corporate insiders.

Investors could yet fi nd an au-dience in Washington, where pol-iticians of all stripes are more than happy to blast Chinese advantages in trade and other issues. Share-

holders could plead for greater protection from foreign compa-nies listed on US exchanges. Hear-ings on the issue could provoke a crackdown by regulators, which currently only require disclosures of material information. Liability is imposed only in cases of fraud. Boston-based investor Heng Ren recently implored shareholders to contact lawmakers.

Any regulatory action would probably come too late to help mi-nority investors in the current crop of buyouts. But political pressure might make it harder for overseas companies to take advantage of such loopholes. At the very least, it would make investors pay closer attention to the risks they face. — Reuters

BY J U N LU O

and we need time [to assess the impact],” Mitsubishi president Tet-suro Aikawa told a news briefi ng. “But I’m sure there will be an im-pact. Th e damage will be big.”

Th e falsifi ed fi gures were dis-covered after Nissan found incon-sistencies in fuel-economy data. Japan’s No 2 automaker said it would halt sales of the aff ected minicars, but added that it had no immediate plans to change its business relationship with Mitsubishi, which also makes Lancer cars and the Outlander sport utility vehicle. — AFP

1 6 F O C U S FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY

Utilities and marine conglomer-ate Semb corp Industries has seen its shares leap as much as 30% since the beginning of February, fuelled by a re-covery in oil prices. Indeed,

Sembcorp has traditionally been a proxy to the offshore and marine sector, because of its 61% stake in the world’s second-largest rigbuilder, Sembcorp Marine.

Yet, Sembcorp’s utilities business has been rising in prominence, as the group has expanded its portfolio of power generation and water treatment assets, particularly in emerging markets. Now, with earnings con-tributions from its off shore and marine divi-sion likely to wane, the value of Sembcorp’s burgeoning utilities business could fi nally shine through.

In 2013 and 2014, Sembcorp’s utilities division contributed about 55% and 51%, respectively, of the group’s earnings. Last year, the utilities business all but held up the group’s bottom line as SembMarine posted its fi rst full-year loss in a decade. Th e slump at Semb Marine was no surprise. In fact, shares in Sembcorp and Semb Ma-rine had been sinking since oil prices began their steep descent in mid-2014. By Jan 21, shares in Sembcorp had hit a fi ve-year low of S$2.16 (RM6.22), a level that ascribed very little value to its off shore and marine business, and from which it was certain to rebound strongly on any good news in the energy sector.

Th is week, shares in off shore and ma-rine stocks are likely to be heavily traded, as the market digests the outcome of the Organization of the Petroleum Exporting Countries meeting held in Doha on April 17. Oil traded at a 2016 high of US$44.69 (RM173.39) a barrel as this newspaper went to print, while SembMarine and Keppel Corp were also rallying strongly. Even if a deal to

Value in utilitiesSembcorp Industries is now more a utilities play than ever

BY M I C H E L L E T EO

restrict supply is struck at the meeting, it seems unlikely that there will be an imme-diate improvement in capital expenditure in the energy sector that leads to stronger orders for these companies. In addition, the margins on new orders are unlikely to be as high as when oil traded at US$100 a barrel.

On the other hand, Sembcorp’s utili-ties division, which develops, owns and operates significant power and industri-al water treatment assets across Asia and the Middle East, is set to generate more income for the group next year. It is still inking new agreements and expanding into new markets. Any significant selloff in the weeks ahead on a shift in outlook for SembMarine might create a buying opportunity for long-term investors who want to take a position in a promising global utilities play.

Emerging utility pipelineLast year marked the 20th year of operations for Sembcorp’s utilities business. From a

single utilities plant on Jurong Island, the business now has a range of energy assets — from gas and coal to renewable ener-gy plants — and water treatment facilities spanning 15 countries. In 2015, the utilities division’s facilities overseas accounted for about 60% of its core earnings.

A major achievement for the year was the completion and fi ring-up of Sembcorp’s fi rst thermal power project in India. Th e Th ermal Powertech Corp India (TPCIL) coal-fi red power plant, in which Sembcorp holds a ma-jority 67.4% share, employs what is termed “supercritical” technology, which essential-ly skips the water boiling that convention-al coal-fi red power plants use to generate steam. Supercritical power plants result in higher effi ciencies, as well as less coal per megawatt-hour, which in turn means less fuel costs and lower emissions.

“It’s really the most diffi cult project Semb-corp Utilities has performed over the last 20 years,” Tang Kin Fei, chief executive offi cer (CEO) of Sembcorp, told the analysts and

bankers at the company’s results briefi ng in February. Th e TPCIL plant started com-mercial operations in September, and has already signed up 86% of its 1,320mw ca-pacity under long-term power purchase agreements. Th e plant is part of the Sem-bcorp power complex in Andhra Pradesh, which has a capacity to generate 2,640mw of electricity, which meets about 40% of the state’s power needs.

In fact, India is proving to be a key growth market for Sembcorp, accounting for about 40% of the utilities business. With a growing middle-class, as well as continued urbani-sation and industrialisation in the country, the Indian government expects an electricity baseload defi cit of between 8% and 10% to last until 2022.

Over the past year, Sembcorp has ex-panded its presence in the country, includ-ing acquiring a stake in renewable energy company Green Infra, which has wind- and solar-powered assets in six states. All in, Sembcorp has about 3,500mw of power ca-pacity in operation and under development in India, which is roughly enough to cater to slightly more than half of Singapore’s energy needs.

Sembcorp is also expanding its portfolio of power projects in China and has secured new power projects in Myanmar and Bang-ladesh. Tang says the pipeline of projects will generate income for the group from 2017, but he cautions that with the gener-al economic gloom globally, growth in the energy generation segment in particular could slow. “Th is is our growth story in the coming years.”

As at end-2015, Sembcorp had more than 10,600mw of power capacity in operation and under development. Th ese include re-newable energy projects such as wind- and solar-powered facilities in China and India.

Tang says Sembcorp aims to grow its renewable energy capacity by 500mw to 1,000mw a year, with a focus on solar-pow-

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The Sembcorp Gayatri Power Complex which houses TPCIL and NCC power projects in Andhra Pradesh. Photo by Sembcorp Industries

F O C U S 1 7FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY

BY B E N N Y TA N

ered facilities. “We believe the future of the world is going [for] less carbon emission and this area has growth potential for the long term, in addition to thermal power,” he says.

To be sure, the group’s businesses in emerging markets are budding just as it becomes more diffi cult at home. In Singa-pore, there has been an oversupply of power generation capacity, which has meant lower power margins for producers such as Sem-bcorp. Consequently, earnings contribution from Singapore has gradually fallen from S$262.6 million in fi nancial year 2012 (FY12), to S$146.8 million last year. By contrast, overseas utilities’ earnings contributions have risen from S$127.8 million in FY11 to S$223.9 million last year.

Overall, Sembcorp’s utilities business re-corded a net profit of S$701.5 million for FY15. Th is was boosted by a S$370 million gain from the sale of its waste management business in Australia, as well as its water busi-ness in Bournemouth, the United Kingdom and in China. According to Tang, this is one of the ways in which Sembcorp is working to improve shareholder value, by selling as-sets “that have achieved maximum value” and reinvesting the gains in assets “in high-er-growth areas”.

Underwater valueDespite its growing utilities portfolio, Sem-bcorp could still get whipsawed by devel-opments in the upstream energy sector. And, clearly, business has not been great at its off shore and marine business arm. In January, shares in SembMarine hit a low of S$1.30, about 23% of the peak at which they traded fi ve years ago.

In a March 30 note on Keppel Corp high-lighting the “unsustainable rally” in oil pric-es, Maybank Kim Eng analyst Yeak Chee Keong writes that rig fundamentals have not improved. “[Th e] CEO of oilfi eld ser-vices giant Schlumberger [Paal Kibsgaard] also remarked that the oil services industry is in a full-scale cash crisis. Unless we see a sustained oil rally past US$60 a barrel, capex for the oil industry will remain sub-dued. We even see cracks emerging in the

fl oating liquefi ed natural gas market, which some industry players have been placing their hopes on.”

DBS Group Research noted in a recent sector report that the Sete Brasil orders, which both SembMarine and Keppel have, are at risk of cancellation, “as bankruptcy is just a step away for the Brazilian entity”. In addition, the glut of vessels and equipment will take time to ease, especially on the back of lower exploration activity, which means a further slowing of order wins is expected.

For FY15, SembMarine reported a 15% decline in revenue to S$4.97 billion, and a 35% decline in operating profi t to S$459 million. After factoring in S$609 million in impairments and provisions for rig deliv-eries that have been delayed or deferred, including S$239 million for the Sete Brasil projects, SembMarine recorded a net loss of S$290 million. As at end-2015, SembMarine had net gearing of 1.03 times, up from just 0.2 times a year ago. SembMarine said in a statement accompanying the results that the current downcycle in the off shore and marine sector “is expected to be more pro-tracted than previous cycles”.

SembMarine builds more than just off -shore rigs, though. During a briefi ng in Feb-ruary, Tang took pains to lay out SembMa-rine’s full scope of capabilities, including the design, construction, repair and upgrade of other vessels and platforms. Th ese include LNG carriers and modularised LNG and liq-uefi ed petroleum gas terminals that can be moved around and redeployed in shallow waters. Tang also highlights that SembMarine has secured S$3.2 billion worth of contracts to supply equipment and services that are not related to oil and gas exploration and production. As at end-2015, its order book totalled S$10.4 billion.

CIMB analyst Lim Siew Khee, who tracks both Sembcorp and SembMarine, says the fulfi lment of such contracts, outside of rig-building and other oil and gas exploration and production work, will contribute to SembMarine’s earnings. “So, you can’t put SembMarine at zero [in terms of valuation] because it is still recognising revenue.”

Keppel may have run too far too fast

ALONG with Sembcorp Industries, Keppel Corp has been one of the best-performing blue-chip stocks in recent weeks. Apart from the generally fi rm market tone, Kep-pel has been getting a lift from fi rmer oil prices, which could be an indication of a better outlook for its off shore and marine (O&M) division.

Indeed, on April 6, Keppel said its Bras-FELS shipyard had clinched a fl oating pro-duction storage and offloading module fabrication and integration project from its existing customer MODEC Off shore Produc-tion Systems (Singapore). Th e value of this contract is worth more than BRL500 million (S$190 million or RM547.26 million).

Yet, the rally in Keppel might be over-done. In January, the market was ascrib-ing practically no value to its O&M unit. That has since changed, but there is a wide variation in opinion on where we go from here.

Among the most bullish is RHB Re-

search Institute. According to the research house, the market has underestimated the resilience of Keppel’s O&M segment. It val-ues this key division of Keppel’s at 3.4 times book value, translating into S$4.66 billion, or S$2.57 per Keppel share. Based on its sum-of-the-parts (SOTP) valuation, the research house derived a price target of S$8.08. It has a “buy” call on the stock.

OCBC Investment Research values Kep-pel’s O&M segment at book value, or about S$1.37 billion. Th is translates into 76 cents a share. Based on its SOTP valuation, and further applying a 10% discount, the research house has a fair-value estimate of S$5.07. Th e research fi rm has a “hold” recommen-dation on the stock.

According to OCBC Investment Re-search, Keppel should be viewed increas-ingly as a property play, as the O&M seg-ment could see a continued lack of earnings clarity with low oil prices. Also, the research firm notes that the property segment ac-counted for 46% of the group’s earnings in 2015, while the O&M and infrastruc-

ture segments contributed 32% and 14% respectively.

CIMB values Keppel’s O&M segment at four times book value, or S$5.48 billion, translating into S$3.02 a share. Based on its revalued net asset value (RNAV), the re-search house has a target price of S$5.53. It

‘SembMarine can weather any storm now and in the future’

Tang has also sought to reassure share-holders that SembMarine can hold its own. “We must remember that downcycles are not new to the industry. Having been in the business for more than 50 years, SembMa-rine has gone through many such cycles, and has always emerged stronger,” he says in the latest annual report. “I have no doubt that, as an integrated company, it will be able to weather this storm and any other challenges that it may face in the future.”

What is Sembcorp worth?Despite his optimism about SembMarine, Tang has emphatically denied talk of Sem-bcorp possibly taking advantage of its de-pressed shares and taking the unit private. “We are not white knights,” Tang said in Feb-ruary, when asked. “As you know the marine outlook today is not clear, so why would I want to pump in more money right now? [If] it’s at a very low price, [the] stakeholders want to throw away at a very low price, then I cannot refuse a very good off er.” Sembcorp had tried to take SembMarine private in 2002, but failed to muster suffi cient acceptances from minority shareholders of the rigbuilder.

Tang went on to say that Sembcorp was more focused on its utilities and urban development businesses. “We have so many new developments, new projects, new opportunities we can pursue, why not pursue those businesses?” he said. “Why look inward?”

So, what is the value of Sembcorp’s two main units? And, what would be a good entry level for investors eyeing the expansion of its utilities business?

Given the volatility in the oil sector, the estimates vary signifi cantly. For instance, Lim reckons that Sembcorp’s utilities and industrial parks’ businesses are worth about S$2.40 a share. She cur-rently has a price target of S$3.10 for the stock. On the other hand, OCBC Investment Research’s L ow Pei Han ascribes a fair-value estimate

for SembMarine of S$1.08, and factoring in an earnings multiple of 8.5 times for utilities, has a fair value for Sembcorp of S$3.21 a share, based on a sum-of-the-parts valuation.

On those fair-value estimates, there seems little further upside to shares in Sembcorp. If the stock were to sink back to the S$2.50 level, investors with a long-term horizon would probably earn a decent return. At current levels, Sembcorp is trading at about 10 times its earnings, and just 80% of its net asset value of S$3.60 a share. Sembcorp is scheduled to release the results of its 1QFY16 fi nancial performance in early May. — Th e Edge Singapore

Tang: The future of the world is going [for] less carbon emission and this area has growth potential for the long term. Photo by Samuel Isaac Chua/The Edge Singapore

has a “hold” recommendation on the stock.Meanwhile, Maybank Kim Eng has been

warning since the end of last month that the run-up in Keppel is unsustainable. By its es-timates, unless oil prices surge past US$60 (RM232.80) a barrel, weakness at Keppel’s O&M division is likely to eclipse its prop-erty and infrastructure divisions. Using an SOTP model, Maybank Kim Eng values the stock at S$4.42.

With shares in Keppel already trading above all but the most bullish prognoses in the market, even with the recent recov-ery in oil prices, it seems that its shares have run up too far too fast. — Th e Edge Singapore

Th is is an edited and updated version of an investment view that ran in the Port-folio section of the Singapore Market Re-port on April 11. For a free subscription to the Singapore Market Report, visit www.theedgemarkets.com/sg and click on the registration ad.

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1 8 W O R L D B U S I N E S S FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY

SABMiller sales advance on gains in Africa, Latin AmericaLONDON: SABMiller plc, the brewer that’s due to be bought by rival Anheuser-Busch InBev SA/NV (AB InBev) later this year, reported a gain in fourth-quarter beer shipments, led by growth in Africa and Latin America. Or-ganic lager volume rose 3% in the three months ended March 31, London-based SABMiller said in a statement yesterday. Net producer revenue, a meas-ure that excludes excise taxes, increased 5% for the year. Th e maker of Blue Moon wheat ale and Pilsner Urquell lager is cut-ting costs as it awaits approval from regulators for its takeover by Leuven, Belgium-based AB InBev. — Bloomberg

Sete Brasil shareholders approve plan to fi le for bankruptcySAO PAULO: Shareholders of oil-rig venture Sete Brasil Par-ticipacoes SA agreed to a plan to fi le for bankruptcy protec-tion after its single client failed to present a viable book order. A Sete Brasil offi cial confi rmed on Wednesday that investors are backing the plan. Share-holders had set that day as a deadline for Petroleo Brasilei-ro SA to propose a book order that could pay back the capi-tal they had injected into the company. Petrobras, which is a shareholder and Sete’s only client, didn’t vote. Th e com-pany may list about 18 billion reais (RM19.78 billion) in lia-bilities. — Bloomberg

Microsoft says game over for productionof Xbox 360BENGALURU: Microsoft Corp said on Wednesday it would stop production of its popu-lar Xbox 360 video game con-sole, which helped the compa-ny gain a fi rm foothold in the market. More than 80 million units of the console have been sold since it was launched in 2005. Xbox 360 introduced Mi-crosoft’s Kinect motion-sensing game device. Th e company has also introduced the ability for users to play games launched for the Xbox 360 on its latest console. Microsoft currently off ers over 100 video game titles as a part of its “backward com-patibility” feature. — Reuters

Apple delays earnings report for Campbell memorialSAN FRANCISCO: Apple Inc delayed its second-quarter earn-ings report by one day to Tues-day, rescheduling so employees can attend the Monday memo-rial service for former director Bill Campbell. Campbell died this week at age 75 after a bat-tle with cancer. He worked as a marketing executive at Apple in the 1980s, and was a close friend of co-founder Steve Jobs and an adviser to current chief execu-tive offi cer Tim Cook. Campbell served on the Apple board from 1997 to 2014. — Bloomberg

I N BR I E FECB to fi re back at GermanyAfter its offi cials dispute the bank’s recipe for tackling eurozone’s woes

BY B A L A Z S KO R A N Y I & F R A N C E S C O C A N E PA

NEW YORK: Yahoo’s fi rst quarter is the last straw. An 11% drop in reve-nue for the fi rst three months of the year puts an exclamation point on the lack of progress in almost four years with Marissa Mayer as chief executive offi cer (CEO). Google and Facebook are cleaning up in digital advertising, especially mobile. It’s time to offl oad Yahoo’s core busi-ness before bidders like Verizon lose interest.

Mayer’s enthusiasm is unfl ag-ging. Even after the poor showing reported on Tuesday, which in-cluded an operating loss of US$167 million (RM647.96 million), she keeps touting her ability to kick-start growth while considering other alternatives. It’s hard to see what options are left.

Th e US$34 billion company’s so-called “mavens” are moving at an analogue pace. Th is Mayer-named collection of mobile, social, native and video ads represent a little more than a third of Yahoo’s top-line and only grew 7% in the fi rst quarter. By comparison, Facebook’s mobile ad-vertising revenue rose 81% in the fourth quarter from a year earlier, and accounted for nearly the entire US$5.8 billion generated.

Marissa Mayer has only one last job to do at Yahoo

FRANKFURT: European Central Bank (ECB) president Mario Draghi was due to drive home the case for ultra-loose monetary policy yester-day, hitting back after a barrage of criticism from German offi cials who dispute the bank’s recipe for tackling the eurozone’s economic malaise.

Having yet to implement or fully explain some of the measures he announced last month, Draghi is set to give investors more informa-tion about the ECB’s latest plan to buy corporate bonds.

LONDON: Pay is not the only thing HSBC investors will challenge ex-ecutives over at today’s annual meeting in London. Calls for re-assurance on dividends, Chinese expansion and succession plan-ning are all set to feature in the meeting.

Concerns about moving to Asia, which dominated last year’s event, have been replaced by a litany of fresh worries, topped by fears about whether an 8% dividend yield can be sustained as the global economy stalls.

“Owners of the stock need to be aware that there is a very high probability that HSBC is going to have to cut its dividend in the next 12 to 18 months,” said Ian Tab-berer, a fund manager at Hender-son Global Investors, which holds HSBC shares.

“Th ey (HSBC) appear to jump head fi rst into markets where sup-ply of capital is increasing, the price they can fetch comes down and they end up hurting them-selves,” he said, referring to a push into mainland China, under HS-BC’s “Asia Pivot” strategy.

BERLIN: Embattled German carmaker Volkswagen (VW) will off er US$5,000 (RM19,400) to each US buyer of its diesel cars which were installed with emissions-cheating software in a bid to avoid a major court case, Die Welt newspaper reported yesterday.

The US cases have been con-solidated in a Federal Court in San Francisco under Judge Charles Breyer who had given VW until yesterday to come up with a plan to deal with some 600,000 cars which had their engines rigged to make them appear less polluting.

According to Die Welt, the deal,

Widely expected to hold interest rates unchanged at record lows, the ECB will want to see how the two stimulus packages announced since December play out before unveiling any new measure, but Draghi will also reaffi rm his guid-ance for low or even lower rates for many years to come.

Th e ECB has been easing policy aggressively, cutting rates deeper into negative territory and expand-ing asset buys in a bid to prop up in-fl ation after sinking oil prices pushed it into negative territory — all but erasing hope it can lift it back to its 2% target over the next two years.

Although market-based infl ation expectations have refused to budge, oil prices are rising and the March stimulus package supported both sentiment and fi nancial market con-ditions, giving the ECB reason for cautious optimism, analysts said.

Indeed, the ECB’s biggest head-ache this time may be a nasty spat with Berlin after Finance Minister Wolfgang Schaeuble said that mon-etary policy was causing “extraor-dinary” problems for Germany and was in part to blame for the rise of the right-wing anti-immigration Alternative for Germany.

Th e ECB seems to have the edge

in the debate for now after Schae-uble backtracked on some of his comments and Bundesbank chief Jens Weidmann, the ECB’s biggest critic to date, spoke out in favour of central bank independence, arguing that the ECB’s expansionary mone-tary policy stance was appropriate.

But Schaeuble, who said late on Wednesday it made no sense for interest rates to be at zero or below for a long time, is unlikely to retreat to the sidelines.

Draghi will likely reject the Ger-man’s criticism, outlining an even darker path for growth and infl a-tion if the ECB gives up. — Reuters

HSBC faces pay pressure and dividend fearsBY S I N E A D C R U I S E Chief executive offi cer Stuart

Gulliver and chairman Douglas Flint are both big believers in the potential of China’s Pearl River Delta, home to 11 industrial cities set to fuse into one megapolis, but the big pay-off may not come until long after they have left the bank, analysts warn.

Investor advisory fi rm Pensions & Investment Research Consult-ants (PIRC) has urged sharehold-ers to reject HSBC’s pay plans and oppose Flint’s re-election.

HSBC said the documents pre-dated a reform of its business model, but the saga is a setback to attempts to overhaul the bank’s im-age, after a series of scandals and a year after revelations its Swiss business helped clients dodge tax.

Investors are also keen for an update on HSBC’s search for a chairman and new chief executive offi cer. HSBC has already said it was looking for a replacement for Flint, 60, and aims to nominate his successor in 2017.

PIRC has also criticised Gulliv-er’s bonus, which exceeded 200% of his salary and benefi ts package, which is worth 50% of his base pay. — Reuters

VW to off er US owners US$5,000 over emissions scandal

Most companies put a gloss on themselves when they’re up for sale to woo suitors. Yahoo, which has lurched from strategy to strategy, is struggling to manage even that. Mayer is making potential bidders listen to pre-recorded messages while providing little fi nancial de-tail, according to media reports. It suggests there may be something messy inside or that the CEO isn’t especially keen to sell.

Despite having to press one for the pitch book, there is interest nonetheless. Telecom titan Ver-izon signalled it would bid in an attempt to marry Yahoo with AOL, which it acquired last year for US$4 billion. Private-equity fi rm TPG and the digital-advertising remains of the phone book publisher Yellow Pages also may be in the mix.

Some potential bidders already have hung up on Yahoo. Comcast, AT&T, Time and Barry Diller’s in-ternet hodgepodge IAC are among those that media reports say con-sidered making an off er but didn’t. Yahoo expects the second quarter will be even worse, with at least a 12% decline in sales from a year ago. Given that outlook, Mayer only has one last job to do at Yahoo. She may be running short on time, howev-er, to get this one right. — Reuters

BY J E N N I F E R S A B A

agreed with the US authorities, doesn’t resolve all the issues but would leave VW picking up the cost of recalling and modifying the off ending vehicles in addition to paying out US$5,000 to each of the aff ected owners.

VW has been engulfed in a global scandal since it was revealed last year that the German automaker had in-stalled software into 11 million diesel engines worldwide that intentional-ly skewed emissions values during testing. Th e US deal is likely to serve as a reference point for damages for European VW clients. — AFP

Filepic of a VW logo. VW has been engulfed in a global scandal since last year. Photo by Reuters

W O R L D 1 9FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY

‘Brussels airport bomber worked there for fi ve years’BRUSSELS: One of the jihad-ists who blew themselves up at Brussels airport last month had in fact worked at the site for fi ve years until 2012, Bel-gium’s VTM television report-ed on Wednesday. It had al-ready emerged earlier that Najim Laachraoui also briefl y worked as a cleaner at the Euro-pean Parliament several years ago. He was one of two suicide bombers at Brussels airport on March 22 in coordinated at-tacks that also struck a metro station in the city, killing 32 peo-ple overall. For fi ve years until 2012, Laachraoui “worked ... at Brussels airport”, Flemish-lan-guage VTM reported, adding that he had been recruited by a temp agency. — AFP

US Army captain helps foil Denmark school attack plot WASHINGTON: A US Army captain in Iraq helped crack a plot to bomb a Danish school after gleaning crucial details from documents recovered from extremists, the Pentagon said on Wednesday. Army Captain Bradley Grimm, who is based at al-Asad airbase in Iraq’s Anbar province, had “helped develop a system to speed the fl ow of intelligence from here on the ground to various national cap-itals,” Baghdad-based spokes-man Colonel Steve Warren said. Grimm gleaned “actionable in-telligence” from “captured doc-uments” belonging to foreign fi ghters with ties to Denmark, Warren said. — AFP

Last known Ebola patient discharged in Guinea CONAKRY: Guinea’s health au-thorities and the medical charity treating the last known Ebola patient in the country said on Wednesday that he had been discharged after successfully recovering from the disease. Th e elderly man, named Gba-na Kalivogui, was shown smil-ing broadly in images released by the Alima medical charity, which treated him at their ded-icated unit in the southern city of Nzerekore. “Th e last current confi rmed case of Ebola hospi-talised in Nzerekore left last night (Tuesday) fully recovered, and has gone home,” said Fode Tass Sylla, a spokesman for Guinea’s Ebola response unit. — AFP

MPs urge British govt to recognise IS ‘genocide’LONDON: British lawmakers voted on Wednesday to urge the government to recognise the Is-lamic State (IS) jihadist group’s attacks on minorities in Iraq and Syria as genocide. Members of parliament unanimously ap-proved the motion — which is not binding on the government — by 278 votes to zero. Th e vote in the 650-seat lower House of Commons calls on ministers to accept formally that IS actions against Christian, Yazidi and oth-er religious and ethnic minori-ties in Syria and Iraq constitute genocide. — AFP

I N BR I E FEcuador to hike taxes, sell assets To fund multibillion-dollar quake rebuilding

BY A N A I S A B E L M A R T I N E Z & D I EG O O R É

PEDERNALES/QUITO: Ecuador will temporarily increase some taxes, sell assets, and may issue new bonds on the international market to fund a multibillion-dollar reconstruction after a devastating 7.8 magnitude quake, a sombre President Rafael Correa said on Wednesday.

The death toll from Ecuador’s weekend earthquake neared 600 and rescue missions ebbed as the traumatised Andean nation braced itself for long and costly rebuilding.

“It’s hard to imagine the mag-nitude of the tragedy. Every time we visit a place, there are more

BEIRUT: Hundreds of sick or wounded Syrians and their fam-ilies were being evacuated from besieged rebel- and regime-held towns for treatment yesterday as relief eff orts intensifi ed even as peace talks falter.

Th e evacuees, who were “in urgent need of life-saving med-ical attention,” according to the United Nations, were bussed out of their enclaves late on Wednes-day in a joint operation with the Syrian Arab Red Crescent.

In a carefully synchronised operation, they were all brought to a staging area in a rebel-held part of central Syria at dawn yes-terday before being transported on for treatment, the Syrian Ob-servatory for Human Rights said.

Exactly 250 of the evacu-ees were brought out of the besieged rebel-held towns of Madaya and Zabadani, north-west of Damascus.

Th e same number were evac-uated from the besieged govern-ment-held towns of Fuaa and Kafraya, southwest of Aleppo.

Th e Observatory said some of the pro-government evacu-ees were already beginning to arrive in the regime heartland province of Latakia on the Med-iterranean coast.

Th e evacuees from Madaya and Zabadani were being taken for treatment in the rebel-held province of Idlib on the Turk-ish border.

Th e staging area at Qalaat al-Madiq, a medieval castle in central Hama province, has been used in similar evacuation operations in the past.

In December, rebels who quit the last opposition-held district of the central city of Homes were bussed out to Idlib province via Qalaat al-Madiq.

Aid deliveries to Fuaa, Ka-fraya, Madaya, and Zabadani always occur simultaneously and in equal amounts, and a similar stipulation applied for those being evacuated. — AFP

MEXICO CITY: A massive explosion rocked a major petrochemical facil-ity of Mexican national oil company Pemex in the Gulf state of Veracruz on Wednesday, killing at least three people, injuring dozens more, and pumping a cloud of noxious chem-icals into the sky.

Luis Felipe Puente, head of fed-eral emergency services, told Reu-ters that three people had died in the blast. Pemex confi rmed that three of its workers had died, and said another 136 were injured, of which 88 were still in the hospital.

Th e fi rm said the explosion, which sent a huge, dark plume of smoke billowing upwards, occurred just af-ter 3pm (2000 GMT) at the facility’s chlorinate 3 plant near the port of Coatzacoalcos, one of the company’s top oil export hubs.

Local emergency officials said hundreds of people had been evac-uated from the site. Television foot-age showed an initial burst of fl ames followed by a tower of thick smoke. A company offi cial said local oil ex-ports were unaff ected.

What caused the blast was un-clear, but Pemex initially warned

KUWAIT CITY: Peace talks between Yemen’s warring factions are on hold pending the arrival of rebel representatives to the United Na-tions (UN)-backed negotiations, diplomats told AFP yesterday.

Th e talks were initially scheduled to start on Monday, and any further delay could dash hopes of ending Yemen’s war after the government delegation threatened to pull out if

meetings did not begin immediately.“According to the latest informa-

tion, the rebel delegation should ar-rive in Kuwait by the end of the day,” said one diplomat close to the talks.

“As a result, the talks could be de-layed further until Friday (today),” another diplomat said.

On Wednesday, UN spokesman Stephane Dujarric said negotiations would begin in Kuwait yesterday.

Th e rebels only agreed to join the talks after they said they re-ceived assurances from the UN that pro-government forces would respect a ceasefi re which has been violated by warring parties since it came into eff ect on April 11.

Th ere was still no word yesterday from the rebels on their expected time of arrival.

Representatives of the Iran-

backed Huthi insurgents and their allies left Sanaa on Wednesday for Oman and they are expected to continue on to Kuwait.

But they were still in Oman yes-terday morning, according to dip-lomats.

In Yemen itself, fi ghting wore on on several fronts, military sources said, as each side blamed the other for truce breaches. — AFP

problems,” Correa said, fresh from touring the disaster zone.

Th e leftist leader estimated the disaster had infl icted US$2 billion (RM7.76 billion) to US$3 billion of damage and could knock two to three percentage points off growth, mean-ing the economy will almost certainly shrink this year. Lower oil revenue had already left the poor nation of 16 million people facing near-zero growth and lower investment.

In addition to US$600 million in credit from multilateral lenders, Cor-rea, an economist, announced a raft of measures to help repair homes, roads, and bridges along the dev-astated Pacifi c Coast.

“We’re looking at the possibility

of issuing bonds on the international market,” he said on Wednesday af-ternoon, without providing details.

Ecuador had been saying before the quake that current high yields would make it too expensive to is-sue debt. Yields on its bonds are close to 11 percentage points high-er than comparable US Treasury debt, according to JPMorgan data, and creditors are likely to be wary after the quake.

Correa’s government in 2008 had defaulted on debt with a similar yield, calling the value unfair. His govern-ment has since returned to Wall Street and Ecuador currently has some US$3.5 billion worth of bonds in cir-culation. — Reuters

Th ree dead, dozens injured in blast at chemical plant in Mexico

local residents to keep away from the site due to what it described as a dissipating cloud of toxic fumes. Television footage showed rain clouds gathering above the plant as evening fell.

“The current situation at the plant ... is under control and there is no risk to the population,” Pemex said later in the evening on its of-fi cial Twitter account.

Pemex chief executive offi cer Jose Antonio Gonzalez travelled to Coatzacoalcos late on Wednesday to oversee the response.

Petroquimica Mexicana de Vin-ilo, a vinyl petrochemical plant that is a joint venture between Pemex’s petrochemical unit and Mexican plastic pipe maker Mex-ichem was the facility hit by the blast. — Reuters

Start of Yemen peace talks pushed back again — diplomats

Hundreds evacuated from besieged Syria towns

Smoke rising from the explosion site at Pemex’s Pajaritos petrochemical complex in Coatzacoalcos, Veracruz state, Mexico, on Wednesday. Photo by Reuters

Evacuees were in urgent need of

life-saving medical attention.

2 0 W O R L D FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY

I N BR I E FTurnbull admits government hack attacksUnveils multimillion-dollar cybersecurity scheme

SYDNEY: Australia unveiled a mul-timillion-dollar cyber scheme to combat hacking yesterday, as Prime Minister Malcolm Turnbull ac-knowledged an attack on the coun-try’s weather bureau but stopped short of blaming it on China.

Th e Australian leader added that it was safe to assume “eff orts are made by foreign actors, both gov-ernmental and non-governmental, to penetrate” local agencies.

“I can confi rm reports that the Bureau of Meteorology suff ered a signifi cant cyber intrusion which was fi rst discovered early last year, and the Department of Parliamen-tary Services suff ered a similar in-trusion in recent years,” Turnbull said in Sydney as he announced A$230 million (RM697 million) in new government funding.

“I don’t have anything further to add than what I’ve said today (yes-

terday),” he replied when asked at a press conference if the weather bureau attack came from China.

The Australian Broadcasting Corp in December cited an un-named offi cial blaming Beijing for the major cyber attack, where hack-ers got inside computer systems at the bureau, which owns one of the nation’s largest supercomputers and has links to the defence de-partment.

Turnbull said the new funding, which comes on top of an alloca-tion of A$400 million over the next decade to strengthen cybersecurity, would include support for regular meetings among government, busi-nesses and researchers on tackling emerging concerns. Th e additional money would also help to boost international eff orts, particularly in the Indo-Pacifi c region, to take down cybercriminals. — AFP

BY T H O M A S WAT K I N S

WASHINGTON: Th e United States Air Force for the fi rst time deployed a B-52 bomber against the Islam-ic State (IS), the Pentagon said on Wednesday as it ramps up a 20-month campaign to smash the jihadists.

Th e bombing mission, in which a hulking B-52 destroyed a weap-ons storage facility south of Mosul in Iraq, comes the same week that Defense Secretary Ash Carter visited Baghdad and announced extra US troops, cash and equipment for the anti-IS campaign in Iraq.

In other signs of an increasing tempo, US commandos working with Kurdish troops conducted a raid targeting a senior IS fi gure and the Pentagon said it has changed how air strikes risking civilian deaths are approved.

Under the new rules, authority now comes from the commanding three-star US general in Baghdad, instead of going through a four-star at the US Central Command’s head-quarters in Florida.

Baghdad-based military spokes-man Colonel Steve Warren insisted the changes do not lessen oversight

Washington ups pressure on IS with fi rst B-52 bomber strike

B-52 bomber

Source : Boeing

US Air Force has deployed a B-52 bomber for the first time againstthe Islamic State group, says Pentagon

Weight: 83,250 kg Take-off weight. 219,600 kg (max)

Crew: 5

Armament:Approx. 31,500 kg mixed ordnance (bombs, mines, missiles, smart weapons)

Can be modified to carry air-launched cruise missiles, decoy missiles

Engine:8 Pratt & Whitney turbofan engines(thrust up to 7,700 kg each)

Speed: Mach 0.86 (1,046 kph)

Range: 14,200 km

Ceiling: 15,150 m

Wingspan: 56.4 m

Length: 48.5 m

Height: 12.4 m

standards in determining when ci-vilian losses are an acceptable risk.

“Th is does not translate into more civilian casualties, this translates into a more rapid execution of strikes,” Warren said.

Th e Pentagon has acknowledged

26 civilian deaths due to US-led co-alition strikes since the campaign began in August 2014 in Iraq, and credits the use of guided missiles in keeping the number relatively low — though independent observers say the fi gure is far higher. — AFP

China exported military drones to more than 10 nations — reportBEIJING: China has exported military drones to more than 10 countries in deals worth hun-dreds of millions of dollars, and plans to sell unmanned craft ca-pable of launching laser-guided bombs, state-run media said yesterday. Chinese drones “have bigger payloads, which means they can carry more weapons” than their competitors, Shi Wen, chief drone designer at the Chi-na Academy of Aerospace Aero-dynamics, told the China Daily newspaper. Chinese companies dominate the global market for commercial drones, but the rare interview is a sign that Beijing is seeking to promote itself as a manufacturer of unmanned military surveillance and killing machines. — AFP

Chinese state media name President Xi ‘commander-in-chief’BEIJING: Chinese state media unveiled a new title for Pres-ident Xi Jinping, calling him “commander-in-chief” of the country’s new joint forces battle command centre, as he seeks to consolidate power over the mil-itary. State-run Xinhua news agency and state broadcaster CCTV both carried reports in English and Chinese referring to Xi by the new description for the fi rst time after he vis-ited the command centre on Wednesday. As well as pres-ident, Xi is general secretary of the Communist Party — the position from which he derives his power — and also chairman of the Central Military Com-mission. — AFP

Australian TV crew fl y home after Beirut kidnap dealSYDNEY: An Australian tele-vision crew accused of aiding a mother in the botched kid-napping of her two children in Lebanon fl ew home yester-day amid reports of a multi-million-dollar deal struck with the father to drop abduction charges. Brisbane mother Sally Faulkner and the Channel Nine team were arrested and charged last week after Faulkner’s son and daughter were snatched in broad daylight on a Beirut street. But they were released on bail on Wednesday after the father, Ali al-Amin, decided not to pursue the charges in court. — AFP

Thai junta chief plays down autonomy for rebellious southBANGKOK: Thailand’s junta chief yesterday played down the idea of greater autonomy for the country’s Muslim-major-ity south, a key demand of rebels who have fought the state for 12 years. Prayut Chan-ocha’s mil-itary government, which came to power through a 2014 coup, has said it is ready to talk with in-surgents but has failed to launch full-scale negotiations or drasti-cally curb violence. — AFP

BY MY N A R D O M A C A R A I G

MANILA: Trash-talking Philip-pine presidential favourite Rodri-go Duterte has warned he is pre-pared to cut diplomatic ties with the United States and Australia after their ambassadors criticised his joke about the jailhouse rape of a missionary.

Duterte also told the ambas-sadors to “shut their mouths”, as controversy continued to rage over his comments in which he said he wanted to have been the fi rst to

SEOUL: North Korea yesterday crowed over the recent shock electoral defeat of the South’s ruling party, calling it a political “death sentence” handed down on President Park Geun-Hye.

Last week’s ballot saw Park’s conservative Saenuri Party lose its parliamentary majority for the first time in 16 years, as voters registered their dissatis-faction with the her economic record and soaring youth un-employment.

Th e result handed the coun-try’s three centre-left opposi-tion parties a combined 167 seats in the 300-seat legislature.

The crushing defeat left Park, who has less than two years left of her single, fi ve-year term, a lame duck leader who will struggle to push through her reform agenda.

For North Korea, which has stepped up its personal attacks on Park to extreme levels in recent months, it was a result to revel in.

“Th rough the elections, the South Korean people placed a death sentence on the con-frontational policies of the Park Geun-Hye forces that drove North-South relations to ca-tastrophe,” said a spokesman for the Committee for the Peaceful Reunifi cation of Korea.

Th e defeat left Park a “veg-etable president” and one of the political “living dead”, the spokesman said in a statement carried by the North’s offi cial KCNA news agency. — AFP

N Korea hails electoral ‘death sentence’ on South’s president

Duterte says he may cut US, Australia ties

rape the Australian woman who was brutalised and murdered in a 1989 prison riot.

“If I become president, go ahead and sever [diplomatic ties],” Duterte, 71, said on the campaign trail on Wednesday night, referring to the relationships with the US and Australia, two of the Philippines’ closest allies.

Duterte, who while campaigning has promised to kill tens of thou-sands of criminals, recounted at a recent rally the riot events as part of his tough-on-crime pitch to voters.

“I was mad she (the Australian lay missionary) was raped, but she was so beautiful. I thought, the mayor should have been fi rst,” he told the crowd.

Australian ambassador Aman-da Gorely criticised his remarks this week, saying on Twitter: “Rape and murder should nev-er be joked about or trivialised. Violence against women and girls is unacceptable anytime, anywhere”.

US ambassador Philip Goldberg later agreed with her. — AFP

The defeat left Park a ‘vegetable

president’ and one of the political ‘living dead’.

F O C U S 2 1FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY

Kelvin Teo, a Harvard Business School student building a web-based peer-to-peer lending start-up as part of his curric-ulum, pitched the project to a potential partner: DBS Group

Holdings Ltd, Southeast Asia’s biggest bank. Omitting his student status, he emailed the proposal last October to chief executive of-ficer (CEO) Piyush Gupta out of the blue.

At DBS’s Singapore headquarters, the CEO received the message. Gupta had been seeking ways to harness the Internet to im-prove banking services and Teo’s venture, Funding Societies, might work. Th ree hours later, Gupta sent his reply: interested.

Today, Teo, 29, and his classmate and Funding Societies co-founder, Reynold Wijaya, 27, are seven weeks from graduation at Har-vard in Boston. Th ey also have deals signed or pending with DBS and other Southeast Asia banks to collaborate with their start-up, which connects investors with borrowers from small and medium-sized businesses.

Th eir success as entrepreneurs, while still enrolled in the top US MBA programme, shows how banks in Asia are eager to join with fi nancial technology fi rms rather than get beaten by them. In a global survey of fi nancial services executives by Pricewa-terhouseCoopers, 95% of bankers said part of their business might be lost to fi ntech companies.

“Th e disruption of the fi nancial sector is clearly underway,” the New York-based consulting fi rm said last month in a report. “Given the speed of technology development, incumbents cannot aff ord to ignore fi ntech.” Forming partnerships with innovators is the leading response by banks, the fi rm said.

Teo and Wijaya are capitalising on this phenomenon, as well as their ties to South-east Asia. Th ey are among what they estimate as the 15 students in their Harvard Business School class who come from the region. While fi ntech is booming in China, it lags in

Two Harvard students arechanging lending in Southeast Asia

Th ey are capitalising on the fi ntech phenomenon

BY CHANYAPORN CHANJAROEN & GRACE HUANG

Wijaya (left, with Teo): SMEs have a lot of potential and helping them will also help the country. Photo by Bloomberg

Southeast Asia. Wijaya says basic fi nancing for small and medium-sized businesses is lacking in nations such as Indonesia, his home. “SMEs (small to medium-sized en-terprises) have a lot of potential and helping them will also help the country,” he said.

When accounting company KPMG and Sydney-based investment fi rm H2 Ventures ranked the top 100 fi ntech start-ups last year, eight Chinese fi rms made the list, led by Shanghai-based Zhong An Online P&C In-surance. Th ere were two from Southeast Asia.

Attracting capitalTravelling to the region during school breaks, the students raised US$1.2 million (RM4.6 million) from venture capitalists in Singa-pore and Jakarta to back their project, which will also earn them academic credit. Th ey pooled another US$400,000 on their own.

Th eir biggest investor, Indonesia-based Alpha JWC Ventures, became interested after its managing partner and co-founder, Will Ongkowidjaja, learned about Funding Societies through a network of former McK-insey & Co employees. He used to work in Jakarta for the New York-based management consulting fi rm and Teo is a former analyst in the company’s Singapore offi ce.

“Th e guys are really aggressive and their execution is very quick,” Ongkowidjaja said. “Th ey are very focused on doing the right thing and having social impact.”

Freenyan Liwang, president director at PT Bank Sinarmas, a Jakarta-based lender controlled by billionaire Eka Tjipta Widjaja, also heard about the start-up and sought out the entrepreneurs. In February, the bank became escrow agent for the fi rm while it weighs closer ties.

“We are now into a digital era and all these young people can make it happen,” Liwang said. “I am 50-something — I have to learn from them.”

Th e students began working on Funding Societies in a tiny room off one of the tunnels between buildings on campus. Th ey often debated strategy until midnight.

Th e company opened an offi ce in Sin-gapore last May and in January a second location in Jakarta. Th ere, it operates under the name Modalku, meaning “my capital” in Bahasa Indonesia, the local language.

The start-up, now with 39 employees, has arranged US$5.5 million in loans, Teo said. Funding Societies charges a 3% to 4% origination fee to borrowers and keeps 1% of repayments to investors. Th e students have not drawn a salary. Before graduation next month, a partnership with DBS may come through.

“We expect to share details soon,” Grace Ngoh, a spokeswoman for the lender, said in an email.

Last year, Kuala Lumpur-based Malayan Banking Bhd named Funding Societies as a fi nalist in a fi ntech competition.

Teo and Wijaya are benefi ciaries of Har-vard Business School’s recent emphasis on entrepreneurship. Since 2011, students have been required to take a year-long course called Field, an acronym of Field Immersion Experiences for Leadership Development. Enrollees must create a business around a new product or service aimed at an interna-tional partner. Funding Societies is an inde-pendent project under faculty supervision.

Personal historyIt was at an assigned group dinner during their fi rst week at Harvard that Teo and Wijaya met in the 2014 fall term. Th ey im-mediately connected. Teo is from Senai, Malaysia; his mother is a retired school-teacher and father a former manager at a palm plantation company. Wijaya’s parents built Jakarta-based PT United Family Food into a multinational corporation with more than 4,000 employees.

Prior to Harvard, Teo graduated in ac-counting from National University of Sin-gapore, worked in the city at McKinsey and later as an analyst for New York-based buy-out fi rm KKR & Co. Wijaya, an engineering graduate from the University of Michigan in Ann Arbor, joined his family’s company.

“Th ey are the new generation of social entrepreneurs,” said Jay K Rosengard, an adjunct lecturer at Harvard University’s John F Kennedy School of Government, in Cam-bridge, Massachusetts, one of the students’ mentors. “Th ey understand the need to be profi table themselves”, while also helping other Southeast Asian businesses to succeed.

“The fact that they want to go back to contribute, it’s wonderful,” he added. — Bloomberg LP

Proportion of executives who see their business at risk from fi ntech fi rms over fi ve years

Percentage

Source: PwC Global Fintech Survey 2016

Fintech invasion

Brokerage services

SME banking

Investment & wealth

Fund transfer & payments

Consumer banking

0 4020 6010 5030 8070

22 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

FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY

Rhapsody in BlueGershwin and Bernstein: composers whose music fi t perfectly together, especially with charismatic English conductor and pianist Wayne Marshall in the mix. Ger-shwin dared to bring jazz into the concert hall with his sparkling Rhapsody in Blue. Bernstein’s supercharged dances from West Side Story will make you want to shout Mambo, while his memorable tunes from Porgy and Bess are guaranteed to delight. Th e Malaysian Philharmonic Orchestra presents Rhapsody in Blue together with Mar-shall tonight and tomorrow night at 8.30, at the Dewan Filharmonik Petronas (DFP), KLCC. Tickets are priced from RM60 to RM270 and can be purchased by calling (03) 2331 7007 or by visiting www.mpo.com.my.

WEEKENDby numbers

Your quick guide to rest and relaxation. By Su Ann Quah

22.04.16 to 24.04.16

2 concerts to catch at the DFP

2 interesting exhibitions at the

Kuala Lumpur Convention Centre

Malaysia International Jewellery Festival Be captivated by brilliant gemstones, hand-crafted precious metals and one-of-a-kind jewellery pieces at the 26th Malaysia Interna-tional Jewellery Festival this weekend at the Kuala Lumpur Convention Centre. Since 1994, this exhibition has been attracting thousands of international trade buyers and hundreds of jewellery exhibitors from countries such as Hong Kong, Japan, Dubai, Cambodia, Italy, India, Th ailand, Indonesia, Sri Lanka, Rus-sia, Turkey and Singapore. Entrance is free, and visitors will have the chance to listen to a broad spectrum of speakers challenge and debate about topics in the industry. Get instant access to rare, limited jewellery col-lections and get expert advice on the best wearables this season. Th e Malaysia Inter-national Jewellery Festival takes place from today to Monday. For more information, visit www.mij.com.my.

Home & Property Investment Fair Property investment has never been as crucial as it is now. With the implementation of the goods and services tax, stricter loan regulations and the increase in property prices, owning a home has become almost impossible. Are developers changing up the rules of the game? Are there more fl exible payment options and benefi ts? Th is three-day property fair will highlight new and upcoming residential developments from prominent developers across the region. Gain informative insights on property investments and more by attending our free seminars. Th ese seminar sessions are hosted by renowned speakers such as Ishmael Ho, Teoh Eng Poh, Gary Chua and more. Th e Home & Property Investment Fair runs from today to Sunday and admission is free; fi nd more details on expo.iproperty.com/MY.

Haydn’s DrumrollMusic by two of England’s fi nest composers of the early 20th century forms the core of this eclectic programme. Gerald Finzi’s Romance for String Orchestra is highly passionate in character and rich in melodic ideas. Th is gem is followed by another, Herbert Howells’ Elegy, which provides a beautiful example of the Brit-ish pastoral tradition. Framing these miniatures is a spiff y overture, performed by the Malaysian Philharmonic Youth Orchestra with Ciaran McAuley as conductor. Support our young, talented musicians this Sunday at Haydn’s Drumroll. Tickets are priced from RM60 to RM100, and can be purchased by calling (03) 2331 7007 or by visiting www.mpo.com.my.

live it! 23

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


2 new skills to learn

2 New movies to hit the silver screens

1 unforgettable Wild Wild West experience

Eye in the SkyColonel Katherine Powell (Helen Mirren) is a London-based military intelligence offi cer who is remotely commanding a top secret drone operation, which entails her team to capture a group of dangerous terrorists from their safe-house in Nairobi, Kenya. As the terrorists are about to embark on a deadly suicide mission, Powell’s mission suddenly changes from “capture” to “kill”. But when an unforeseen collateral damage in the form of a nine-year-old enters the kill zone, it triggers an international dispute over the con-sequences of modern warfare. Eye in the Sky examines the legal, ethical and political dilemmas presented by drone warfare against terrorists, and the civilians who inadvert-ently come into harm’s way.

The Huntsman: Winter’s WarIn this prequel to the Brothers Grimm fairytale, Snow White, evil Queen Ravenna (Char-lize Th eron) betrays her good sister, Freya (Emily Blunt), causing her to retreat to a king-dom far to the north. With her heart now unable to love, she demands that no two in her legion of deadly huntsmen should ever fall in love. When the two queens start a war for domination, Freya’s most elite huntsman, Eric (Chris Hemsworth), and fellow warrior, Sara (Jessica Chastain), are the only heroes standing between them. With the stunning use of CGI and showcasing a star-studded cast, this fi lm opens the Hollywood summer blockbuster season with an unforgettable tale.

French desserts Chef Pierre brings with him 30 years of culinary expertise and specialises in Mediterranean French cuisine, in addition to being a certifi ed trainer for apprentices in France. Learn how to make biscuit cuiller, chocolate mousse with dark, milk and white chocolate, chocolate glazing and a trio of choco-late cake in jars. Th is class take place at 10.30am to 1.30pm tomorrow at ILOHA Culture Centre Cooking & Language Studio, 21-1 Jalan Telawi 2, Bangsar Baru, Kuala Lumpur. Th ere is a special promotional price of RM180 (usual price RM360) for this class, so be sure to email [email protected] for more information on how to participate.

Dressmaking Always wanted to make your own clothes to wear? Whether off -the-rack clothes are never your size, the prints are not to your liking or if you love the feel of certain fabrics more than others, making your own clothing is really much easier than you think. Head over to Hobby N Coff ee at Taman Tun Dr Ismail tomorrow to learn how to make your own clothes, with lessons taught by LARK Accessories founder Ng Ching Ching. Th e class starts at 10.30am and runs for about fi ve hours. Th e fee of RM300 includes materials, two drinks and the use of their sewing ma-chines and other tools. To reserve a spot or for more information, visit www.facebook.com/sewmuchawesomemy. Hobby N Cof-fee is located at Level 1, 12 Jalan Tun Mohd Fuad 2, Taman Tun Dr Ismail, Kuala Lumpur.

If Th e High Chaparral brings back memories of the times you wished you were a cowboy riding the range, the Wild Wild West theme night is for you, pardner! Until Sunday at the Patio, on Level Two of the First World Plaza in Genting Highlands, this stagecoach of delight will happen from 5pm to 3am daily. A host of beer promotions with brands such as Heineken, Tiger and Guinness will be available, and a bot-tle of Jack Daniels whiskey is priced at only RM380. Patio is also off ering some home-on-the-range grub such as peri-peri chicken wings, fried chicken sausages, potato wedges and breaded onion rings. If a good ol’ hoe-down is what you want after eating your fi ll, take to the dance fl oor with the resident band Fiezzta who performs today from 9.30pm to 1.45am, and from 9pm to 2.45am tomorrow and on Sunday. For more information, call (03) 2718 1118 or logon to www.rwgenting.com

2 4 F E AT U R E FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY

Jade to help Malaysian students run enterprisesTh ey will set up and develop non-profi t real-life businesses

BY N U R U N N A S I H A H A H M A D R A S H I D

Brussels-based Euro-pean Confederation of Junior Enterprises (Jade) is keen to help university students in Malaysia acquire and

sharpen their entrepreneurial skills by operating business ventures known as Junior Enterprise (JE).

Under the JE concept, students will set up and develop non-profi t real-life businesses to learn about successes or failures associated with a business venture while still at university.

“JE dramatically improves a stu-dent’s career perspective with 60% of them usually fi nding work before ending their studies,” Jade vice-pres-ident Marion Depouilly told Berna-ma in an interview recently.

She said that 26% of junior entre-preneurs from JE end up starting their own business within the fi rst three years upon graduation while some companies in Europe also insist on employing only people with JE expe-rience because they are already well versed in running a business.

Jade is an international umbrella organisation of enterprises across Europe, with a network of 14 na-tional federations and consulta-tive members from Europe, and a total of up to 280 JEs generating more than €16 million (RM70.29 million) annually.

Depouilly said Jade expects to create the fi rst Malaysian JE soon through the winning team at the

NINETY-year-old Ivan Shamya-nok says the secret to a long life is not leaving your birthplace, even when it is a Belarusian vil-lage poisoned with radioactive fallout from a nuclear disaster.

On April 26, 1986, a botched test at a nuclear plant in Cherno-byl, Ukraine, then a Soviet repub-lic, sent clouds of smouldering nuclear material across swathes of Europe and forced more than 100,000 people to leave a per-manently contaminated “exclu-sion zone” stretching across the Ukraine-Belarus border.

Shamyanok’s village of Tulgo-vich is on the edge of the zone, which at 2,600 sq km is roughly the size of Luxembourg. But he and his wife turned down the off er to relocate and never felt any ill eff ects from the radiation.

“So far, so good. The doctors came yesterday, put me on the bed and checked and measured me. Th ey said ‘Everything’s fi ne with you, granddad,’” Shamyanok said.

“My sister lived here with her husband. Th ey decided to leave and soon enough they were in the ground ... Th ey died from anxie-ty. I’m not anxious. I sing a little, take a turn in the yard, take things slowly like this and I live,” he said.

Arena of Youth (AoY) competition of the “Rebuild It Green” (Rig) seg-ment for university students held in conjunction with the International Construction Week.

Th e Construction Industry De-velopment Board has come on board with the seed money for the winning team to set up the JE, for which Jade will provide training and support.

Universiti Teknologi Mara won the Rig competition with its Disas-ter Management & Mitigation Plan, whereby students had to concep-tualise the best ideas to mitigate the impact of natural disasters in Malaysia. Th e winning team will be able to seek advice from Jade on how it wants to start the JE initiative.

Th e other contestants — from Universiti Kuala Lumpur, KDU University College, Penang and Asia-Pacifi c University — were also encouraged to explore the possibil-ity of setting up JEs on their own.

Depouilly, along with Jade global public aff airs senior project man-ager Ana Carolina Zimmermann, were among the members of the jury at the AoY competition. Both Depouilly, who is from France, and Brazilian Zimmermann are also executive board members of Jade.

Zimmermann said that for JEs to fl ourish, there is no need for a large amount of seed money as even without it, students can learn how to be good entrepreneurs as they would be exposed early to both suc-cesses and failures of businesses.

She said that JEs, besides be-

coming an entrepreneurial training ground to help university students gain employment with large and reputable corporations, also as-sist small and medium enterpris-es (SMEs) to procure products or professional services at lower cost.

“SMEs or other companies also have the confi dence that they are dealing with JEs that have the re-search backing of their universities as well as mentoring from those who had graduated,” said Zimmermann.

Jade hopes to assist Malaysian university students establish between 10 and 15 JEs in the near and medi-um term. Th e JEs will be developed solely by Malaysian students in any fi eld, providing services for organisa-tions under the guidance of teachers and professionals, while enhancing their own learning at the same time.

Th e JE concept operates like a real SME, whereby students own the business, acquire external projects, generate revenue, practise what they learn in lectures, and build social and professional networks.

Th e students need to adhere to corporate governance principles such as having an executive board, management council and their own regulations.

“We believe that Malaysian stu-dents have the entrepreneurial mindset as refl ected by the grow-ing economy in Malaysia,” Depouil-ly said, adding that “once they are ready to start, we will give them not just training but the support to get them engaged with the other parts of the JE network as well.” — Bernama

A rural retirement in Chernobyl’s radioactive shadowBY VA S I LY F E D O S E N KO Th e forthcoming 30th anni-

versary of the disaster has shone a new light on the long-term hu-man impact of the worst nuclear meltdown in history.

Shamyanok said life didn’t change much after the meltdown at Chernobyl, the world’s worst nuclear disaster. He and his fami-ly continued to eat vegetables and fruit grown in their own backyard and kept cows, pigs and chickens for the meat, milk and eggs.

Now that his wife has died and children moved away, he and his nephew, who lives on the other side of the village, are the only people left. “Will people move back? No, they won’t come back. Th e ones who wanted to have died already.”

Shamyanok lives a quiet life. He gets up at 6am when the national anthem is played on the radio, lights his cast iron stove to heat his break-fast and feeds his pigs and his dog.

A mobile shop operating out of the back of a car visits the vil-lage twice a week and on Satur-days Shamyanok’s granddaughter comes to cook food for the week and clean his house.

He said he doesn’t have any problem with his health, but takes medication sometimes and drinks a small glass of vodka be-fore meals “to help the appetite”. — Reuters

Shamyanok drinking tea in his house at the village of Tulgovichi on April 2. He and his nephew, who lives on the other side of the village, are the only people left after the Chernobyl nuclear disaster 30 years ago. Photo by Reuters

4.98 128.98

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 1,721.47 12.56 0.73

KLSE INDUSTRIAL 3,280.22 17.14 0.53

CONSUMER PRODUCT 596.39 2.67 0.45

INDUSTRIAL PRODUCT 145.39 0.84 0.58

CONSTRUCTION 294.67 3.97 1.37

TRADE & SERVICES 233.01 2.00 0.87

KLSE FINANCIAL 14,913.42 68.88 0.46

KLSE PROPERTY 1,187.09 -0.01 Unch

KLSE PLANTATION 7,761.91 32.27 0.42

KLSE MINING 502.55 8.10 1.64

INDICES CLOSE +/- %CHGTECHNOLOGY 22.26 0.04 0.18

FTSE BURSA 100 11,661.77 84.02 0.73

FTSE BURSA MID 70 13,335.75 92.34 0.70

FTSE BURSA SMALL CAP 15,779.26 78.30 0.50

FTSE BURSA FLEDGLING 15,981.05 77.69 0.49

FTSE BURSA EMAS 11,969.99 84.58 0.71

FTSE BUR M’SIA ACE 5,718.85 52.09 0.92

FTSE BUR EMAS SHARIAH 12,523.13 77.26 0.62

FTSE BUR HIJRAH SHARIAH 14,033.55 88.63 0.64

FTSE/ASEAN 40 9,371.58 7.54 0.08

INDICES CLOSE +/- %CHG

Sectorial Movement

CONSUMER PRODUCTS 0.745 0.550 0.725 0.715 7120 ACOSTEC 0.725 0.010 123 0.719 13.35 — 128.9 4.334 3.400 — — 7090 AHEALTH 3.770 — — — 12.90 2.92 441.6 9.600 5.327 9.590 9.420 2658 AJI 9.450 -0.080 36.6 9.485 14.41 2.12 574.5 0.480 0.220 — — 7051 AMTEK 0.220 — — — — — 11.0 6.320 4.052 5.920 5.860 6432 APOLLO 5.920 0.060 13.9 5.890 13.70 4.22 473.6 2.410 1.150 — — 7722 ASIABRN 1.200 — — — — 0.42 94.9 5.299 2.977 4.280 4.280 7129 ASIAFLE 4.280 0.020 18 4.280 11.26 3.74 818.8 64.898 52.361 54.380 53.920 4162 BAT 53.980 0.100 121 54.046 16.94 5.78 15,412.9 0.100 0.040 0.045 0.045 7243 BIOOSMO 0.045 UNCH 900.5 0.045 — — 22.4 1.086 0.620 0.635 0.625 9288 BONIA 0.630 UNCH 336.8 0.630 14.58 2.98 508.0 1.870 0.880 1.630 1.600 7174 CAB 1.630 0.010 107.3 1.625 15.44 — 279.7 0.660 0.427 0.525 0.510 7154 CAELY 0.525 UNCH 23.9 0.515 5.83 1.90 42.0 0.445 0.230 0.290 0.280 7128 CAMRES 0.290 UNCH 136.4 0.285 7.71 — 56.3 14.100 11.300 13.860 13.760 2836 CARLSBG 13.800 0.020 133.8 13.794 19.54 5.22 4,251.5 1.310 0.720 1.210 1.180 7035 CCK 1.200 0.010 222.3 1.206 13.45 2.50 189.2 2.925 2.460 2.590 2.590 7148 CCMDBIO 2.590 UNCH 15.5 2.590 11.73 3.67 722.5 1.970 0.444 1.280 1.210 9423 CHEEWAH 1.260 -0.030 5 1.234 6.95 1.59 53.0 3.290 1.670 2.710 2.710 2828 CIHLDG 2.710 -0.060 3 2.710 17.14 — 439.0 0.090 0.035 0.040 0.040 5188 CNOUHUA 0.040 -0.005 242 0.040 — — 26.7 2.417 1.222 2.120 2.090 7205 COCOLND 2.120 0.030 121 2.106 14.81 3.48 485.1 1.400 1.055 1.400 1.380 7202 CSCENIC 1.400 0.010 187.9 1.396 14.69 7.14 168.7 0.175 0.065 0.105 0.105 5214 CSL 0.105 -0.005 2373 0.105 2.31 — 130.5 0.075 0.040 0.050 0.045 7179 DBE 0.050 UNCH 764 0.047 — — 39.3 0.983 0.785 — — 7119 DEGEM 0.800 — — — 9.28 1.88 107.2 53.560 40.852 53.560 53.100 3026 DLADY 53.400 0.300 7.5 53.477 24.24 1.87 3,417.6 0.165 0.065 0.110 0.105 7198 DPS 0.110 UNCH 1189.8 0.109 — — 64.7 0.265 0.105 0.125 0.115 7182 EKA 0.120 -0.005 37756.8 0.120 — — 37.4 0.280 0.165 0.205 0.200 5091 EKOWOOD 0.205 0.005 70.1 0.202 — — 34.4 0.460 0.190 0.300 0.295 9091 EMICO 0.300 0.005 297.5 0.295 4.28 — 28.8 2.620 1.693 2.140 2.140 7149 ENGKAH 2.140 -0.010 1 2.140 41.96 3.04 151.4 0.325 0.225 0.245 0.235 7208 EURO 0.240 0.005 301.4 0.240 27.91 — 58.3 0.940 0.640 0.800 0.800 7094 EUROSP 0.800 0.040 11 0.800 — — 35.5 21.300 16.745 21.300 20.680 3689 F&N 21.000 0.600 88.5 20.962 21.24 2.74 7,702.3 0.940 0.475 0.675 0.670 9776 FARMBES 0.675 0.005 40.5 0.672 — — 41.2 1.407 0.990 — — 2755 FCW 1.000 — — — 34.36 1.50 250.0 1.220 0.360 1.000 0.975 8605 FFHB 1.000 UNCH 35.6 0.978 13.30 — 83.6 0.966 0.553 0.840 0.830 9172 FPI 0.840 UNCH 191.3 0.835 12.98 8.33 207.8 14.680 11.735 14.680 14.600 3255 GAB 14.640 -0.020 229.3 14.637 17.78 4.85 4,422.7 1.640 0.720 1.130 1.080 5102 GCB 1.090 0.010 729.3 1.103 22.95 — 523.4 2.750 2.070 2.750 2.720 5606 GOLDIS 2.750 0.010 222.4 2.737 15.32 0.73 1,679.3 1.190 0.930 1.190 1.170 5606PA GOLDIS-PA 1.190 0.010 20.4 1.179 — 3.36 541.9 0.175 0.040 — — 5187 HBGLOB 0.045 — — — — — 21.1 7.450 4.307 7.450 7.290 3301 HLIND 7.380 0.190 157.5 7.387 10.91 4.34 2,419.9 1.196 0.860 0.895 0.870 5160 HOMERIZ 0.895 0.020 533.7 0.886 9.53 4.47 268.5 0.552 0.391 0.440 0.435 7213 HOVID 0.435 UNCH 624 0.435 16.23 2.30 353.1 5.280 2.850 4.200 4.180 7141 HUATLAI 4.200 0.190 1.4 4.186 8.79 — 363.9 1.416 0.819 1.330 1.310 5024 HUPSENG 1.320 -0.010 289.9 1.323 19.30 3.03 1,056.0 0.480 0.340 0.440 0.440 8478 HWATAI 0.440 0.010 2 0.440 293.33 — 32.9 3.102 1.816 1.970 1.940 5107 IQGROUP 1.940 -0.020 34 1.953 9.28 4.12 170.8 1.420 0.623 1.000 0.990 7152 JAYCORP 1.000 0.040 75.7 0.993 7.87 4.00 137.3 1.170 0.450 0.670 0.655 8931 JERASIA 0.655 -0.020 11.8 0.668 4.72 — 53.7 3.160 2.427 2.620 2.590 5247 KAREX 2.590 UNCH 558.8 2.606 33.16 0.64 2,596.2 3.965 1.804 3.390 3.350 7216 KAWAN 3.370 -0.020 7.9 3.373 20.33 0.74 793.2 0.295 0.025 0.055 0.055 8303 KFM 0.055 -0.005 25 0.055 — — 3.8 0.935 0.560 0.755 0.745 6203 KHEESAN 0.755 0.005 65 0.749 14.17 — 72.9 2.632 1.742 — — 7062 KHIND 2.050 — — — 13.29 3.41 82.1 1.200 0.920 1.050 1.030 0002 KOTRA 1.030 -0.020 20.2 1.030 23.73 — 136.4 0.115 0.045 0.055 0.050 5172 KSTAR 0.055 UNCH 0.3 0.052 — — 14.7 8.100 5.160 5.690 5.520 7006 LATITUD 5.600 UNCH 34.9 5.585 6.16 2.14 544.4 9.700 2.950 9.180 9.140 9385 LAYHONG 9.150 0.050 14.3 9.152 23.75 — 536.0 0.360 0.130 0.330 0.320 7943 LCHEONG 0.330 -0.005 475.6 0.324 — — 21.8 0.405 0.215 0.285 0.285 8079 LEESK 0.285 UNCH 337.5 0.285 9.60 — 47.8 2.917 2.010 2.440 2.350 7089 LIIHEN 2.430 0.090 881.6 2.396 7.59 3.57 437.4 0.925 0.700 0.785 0.780 7126 LONBISC 0.785 UNCH 18 0.783 8.43 — 146.4 2.343 1.422 1.550 1.550 7085 LTKM 1.550 UNCH 17 1.550 10.46 3.23 201.7 4.585 2.017 4.350 4.250 7087 MAGNI 4.280 -0.030 94.6 4.284 8.72 1.87 696.5 0.175 0.045 0.050 0.045 5189 MAXWELL 0.045 -0.005 840.2 0.049 — — 18.0 1.529 1.141 1.240 1.230 3662 MFLOUR 1.230 -0.010 90.9 1.240 32.28 3.25 676.8 1.120 0.810 — — 7935 MILUX 0.940 — — — 159.32 — 51.1 1.368 1.080 — — 5886 MINTYE 1.200 — — — 16.60 2.50 73.0 5.226 4.507 4.950 4.880 5202 MSM 4.950 0.070 18.5 4.912 12.64 5.25 3,479.8 0.140 0.045 0.055 0.055 5150 MSPORTS 0.055 UNCH 1013 0.055 — — 33.4 1.650 1.100 — — 3921 MWE 1.410 — — — 22.07 0.94 326.5 76.900 68.737 75.580 74.700 4707 NESTLE 74.700 -0.300 1.4 75.154 29.65 3.21 17,517.2 2.800 2.186 — — 7060 NHFATT 2.720 — — — 10.62 3.68 204.4 0.245 0.080 0.110 0.110 7139 NICE 0.110 UNCH 601 0.110 — — 33.3 0.370 0.220 0.295 0.280 7215 NIHSIN 0.285 -0.015 5343.6 0.286 29.38 1.75 67.7 1.079 0.614 0.985 0.965 5066 NTPM 0.970 UNCH 899.4 0.969 17.73 0.82 1,089.5 0.580 0.460 0.510 0.490 7071 OCR 0.500 0.010 246.2 0.500 — — 105.8 2.518 1.841 2.400 2.360 7107 OFI 2.390 -0.010 68.8 2.387 19.70 2.09 573.6 7.728 6.368 7.000 6.980 4006 ORIENT 6.980 -0.030 89.9 6.995 16.54 1.72 4,330.3 2.200 1.214 2.200 2.090 7052 PADINI 2.150 0.020 2019.9 2.176 12.90 4.65 1,414.5 30.200 19.941 29.600 28.600 3719 PANAMY 29.000 0.300 32.6 29.268 13.10 1.72 1,761.6 0.785 0.600 — — 5022 PAOS 0.705 — — — 26.21 3.55 85.1 0.370 0.200 — — 9407 PARAGON 0.300 — — — 22.22 — 21.0 0.885 0.275 — — 6068 PCCS 0.665 — — — — — 39.9 1.200 0.755 0.830 0.825 5231 PELIKAN 0.830 0.005 191 0.830 — — 459.2 0.325 0.175 0.285 0.285 4081 PMCORP 0.285 UNCH 938 0.285 24.57 — 220.4 0.580 0.402 0.530 0.525 5080 POHKONG 0.530 UNCH 263.1 0.530 37.59 1.89 217.5 2.099 1.410 1.510 1.460 7088 POHUAT 1.500 0.030 449.3 1.492 7.09 2.33 340.2 16.980 14.244 16.480 16.280 4065 PPB 16.360 0.060 482.3 16.328 18.45 1.53 19,394.8 0.614 0.458 — — 7190 PPG 0.580 — — — 20.94 2.16 58.0 2.728 1.641 1.850 1.790 8966 PRLEXUS 1.850 0.070 151.6 1.834 8.53 1.54 218.5 1.470 0.945 1.450 1.420 7134 PWF 1.430 -0.020 180.9 1.439 16.16 4.20 111.2 2.931 1.615 2.150 2.100 7237 PWROOT 2.140 -0.010 42.5 2.141 11.25 3.74 650.7 4.650 3.662 4.480 4.410 7084 QL 4.480 0.060 224.1 4.450 27.91 0.95 5,591.2 1.710 1.340 — — 9946 REX 1.500 — — — 22.26 — 92.5 1.450 1.250 1.260 1.250 5252 SASBADI 1.260 -0.010 370.9 1.259 20.36 1.98 352.0 0.546 0.300 0.315 0.305 5157 SAUDEE 0.310 UNCH 1515 0.310 — — 37.2 0.930 0.480 0.925 0.905 7180 SERNKOU 0.920 UNCH 284 0.910 26.29 — 110.4 0.965 0.490 0.965 0.900 7165 SGB 0.950 0.045 13147.2 0.940 — — 99.3 0.115 0.075 0.115 0.105 7165PA SGB-PA 0.110 0.005 38437.8 0.114 — — 57.5 2.450 0.890 1.800 1.750 7412 SHH 1.800 0.040 37.3 1.787 6.66 5.56 90.0 1.546 0.771 1.020 1.000 7246 SIGN 1.000 -0.010 311.5 1.012 9.47 5.00 240.0 0.065 0.040 0.050 0.050 8532 SINOTOP 0.050 UNCH 285 0.050 45.45 — 98.7 2.750 1.671 2.750 2.680 7103 SPRITZER 2.700 0.020 245 2.725 13.91 1.85 414.4 1.520 0.730 1.230 1.210 7186 SWSCAP 1.220 -0.070 14 1.223 254.17 — 178.0 0.745 0.365 0.590 0.570 7082 SYF 0.590 0.025 1896.4 0.582 10.81 — 361.0 0.510 0.280 — — 7211 TAFI 0.330 — — — — — 26.4 3.086 2.262 2.300 2.300 4405 TCHONG 2.300 UNCH 90 2.300 20.05 2.17 1,545.6 1.300 0.355 1.210 1.170 7200 TEKSENG 1.180 0.010 2758.9 1.187 14.01 0.85 366.1 2.011 1.040 1.330 1.300 7252 TEOSENG 1.320 UNCH 43.2 1.323 9.09 1.89 396.0 1.610 1.184 1.460 1.460 9369 TGL 1.460 0.100 2 1.460 22.29 5.14 59.5 0.575 0.445 — — 7230 TOMEI 0.485 — — — — 2.06 67.2 0.470 0.170 0.410 0.405 7176 TPC 0.405 UNCH 154 0.409 14.78 — 94.7 10.724 6.250 6.880 6.810 4588 UMW 6.850 0.050 367.7 6.851 — 2.92 8,002.8 2.430 1.530 2.150 2.150 7757 UPA 2.150 UNCH 3.6 2.150 8.90 3.72 171.1 0.850 0.430 0.760 0.760 7203 WANGZNG 0.760 UNCH 100 0.760 8.86 3.29 121.6 0.098 0.045 0.045 0.045 5156 XDL 0.045 -0.005 150 0.045 23.68 — 121.3 0.670 0.300 0.470 0.415 7121 XIANLNG 0.470 0.040 402.8 0.455 45.19 — 34.2 0.630 0.260 0.285 0.280 5155 XINQUAN 0.285 UNCH 508.2 0.282 0.86 6.42 138.3 2.410 1.430 2.410 2.380 5584 YEELEE 2.390 UNCH 272.1 2.397 13.61 1.26 446.1 0.555 0.190 0.555 0.545 7184 YEN 0.555 0.010 1267.7 0.550 — — 69.4 1.147 0.797 0.920 0.920 5159 YOCB 0.920 -0.005 43 0.920 7.73 4.35 147.2 3.490 1.517 2.310 2.290 7178 YSPSAH 2.310 0.020 22.8 2.299 10.67 2.81 311.0 2.084 1.354 1.500 1.490 5131 ZHULIAN 1.500 0.010 24.3 1.495 14.51 4.00 690.0INDUSTRIAL PRODUCTS 1.236 0.883 1.060 1.050 0012 3A 1.060 -0.010 178.6 1.058 20.78 1.32 417.2 0.210 0.095 0.100 0.100 7086 ABLEGRP 0.100 UNCH 100 0.100 — — 26.4 0.640 0.470 0.520 0.515 7061 ABRIC 0.515 0.005 488.5 0.518 — — 75.8 0.450 0.280 — — 7131 ACME 0.280 — — — 9.36 — 61.2 1.070 0.845 — — 7191 ADVENTA 0.855 — — — 40.14 — 130.6 2.454 1.850 2.200 2.150 9148 ADVPKG 2.150 -0.100 10.1 2.177 14.73 5.58 44.1

0.200 0.105 0.110 0.105 7146 AEM 0.110 0.005 377 0.105 — — 26.1 0.465 0.325 — — 5198 AFUJIYA 0.440 — — — 27.33 — 79.2 0.400 0.260 — — 2682 AISB 0.355 — — — — — 46.8 4.790 2.200 3.290 3.260 7609 AJIYA 3.290 0.020 41 3.280 10.38 1.82 250.5 0.505 0.110 0.200 0.200 9954 AKNIGHT 0.200 0.050 125 0.200 — — 11.6 0.850 0.610 0.805 0.790 2674 ALCOM 0.805 0.010 52.2 0.798 23.13 6.21 108.1 0.535 0.335 0.365 0.360 4758 ANCOM 0.360 -0.005 103.3 0.364 133.33 — 78.8 1.260 0.620 1.260 1.200 6556 ANNJOO 1.230 -0.010 1243.8 1.231 — 2.44 642.9 0.360 0.120 0.250 0.245 9342 ANZO 0.245 UNCH 1355 0.246 — — 72.6 1.520 1.033 — — 5568 APB 1.100 — — — 10.01 5.91 124.2 5.073 3.730 3.920 3.900 5015 APM 3.920 0.020 2.6 3.915 12.68 4.97 790.3 0.730 0.382 0.680 0.665 7214 ARANK 0.680 0.010 207.7 0.670 6.45 3.31 81.6 0.853 0.543 0.640 0.625 7162 ASTINO 0.640 0.020 117 0.635 9.38 3.05 175.4 0.215 0.100 — — 7070 ASUPREM 0.115 — — — — — 33.6 0.810 0.500 0.540 0.540 7099 ATTA 0.540 0.020 11.1 0.540 1.78 — 38.3 1.650 0.510 1.650 1.620 7181 ATURMJU 1.640 0.030 3998.7 1.636 — — 100.2 2.480 1.560 1.700 1.700 8133 BHIC 1.700 -0.050 2.5 1.700 — — 422.4 0.795 0.285 0.695 0.675 7005 BIG 0.675 -0.005 373.8 0.682 13.42 — 32.5 0.150 0.090 0.115 0.115 7187 BKOON 0.115 UNCH 170 0.115 — — 31.8 1.571 0.980 1.030 1.020 0168 BOILERM 1.030 0.010 84.1 1.029 17.70 1.70 531.5 3.100 2.150 2.540 2.500 6297 BOXPAK 2.540 -0.010 4.4 2.508 16.46 — 152.5 1.985 0.777 1.490 1.480 5100 BPPLAS 1.490 0.020 132 1.486 12.65 4.03 279.7 0.585 0.285 0.320 0.320 9938 BRIGHT 0.320 -0.005 5.8 0.320 — — 52.6 0.295 0.175 0.250 0.245 7221 BSLCORP 0.245 -0.010 11 0.250 — — 24.0 0.455 0.150 0.215 0.215 7188 BTM 0.215 UNCH 96 0.215 — — 26.9 5.170 2.000 4.540 4.330 5105 CANONE 4.440 0.040 970.3 4.446 9.93 0.90 853.2 0.286 0.055 0.065 0.060 5229 CAP 0.065 UNCH 2033.5 0.060 1.64 — 75.5 2.350 1.576 2.350 2.280 7076 CBIP 2.290 0.030 733.8 2.309 12.91 2.62 1,232.6 1.100 0.846 0.975 0.965 2879 CCM 0.965 UNCH 20 0.968 14.80 2.59 441.6 1.690 1.150 1.500 1.450 7171 CENBOND 1.500 0.050 39.1 1.467 12.11 4.00 180.0 2.560 1.380 — — 8435 CEPCO 1.900 — — — 5.51 — 85.1 1.500 1.140 — — 8044 CFM 1.150 — — — — — 47.2 2.284 1.234 1.640 1.620 5007 CHINWEL 1.630 -0.010 706.2 1.632 7.99 4.81 488.2 1.688 1.340 1.580 1.530 5797 CHOOBEE 1.580 0.050 25 1.554 29.04 3.80 173.6 1.230 0.640 — — 8052 CICB 0.720 — — — — 2.43 33.0 0.095 0.040 0.055 0.050 7018 CME 0.055 0.005 13098 0.050 — — 24.3 5.977 4.030 4.140 4.040 2852 CMSB 4.090 0.050 4726.6 4.091 17.57 1.10 4,394.2 0.520 0.160 — — 7986 CNASIA 0.210 — — — — — 9.5 3.081 1.423 1.690 1.640 5071 COASTAL 1.680 0.040 1358.7 1.670 6.47 2.38 893.1 0.910 0.200 0.765 0.730 7195 COMCORP 0.750 0.020 8949 0.751 7.55 — 105.0 1.000 0.670 0.785 0.775 2127 COMFORT 0.785 0.005 321.2 0.779 15.83 — 438.7 1.450 0.880 1.430 1.420 5094 CSCSTEL 1.420 -0.020 230.5 1.424 9.78 5.63 539.6 1.008 0.630 — — 7157 CYL 0.905 — — — 15.26 6.63 90.5 0.440 0.275 0.365 0.365 5082 CYMAO 0.365 UNCH 10 0.365 — — 27.4 2.398 1.621 2.120 2.100 8125 DAIBOCI 2.100 UNCH 28.5 2.103 21.43 2.80 573.8 0.475 0.225 0.380 0.370 8176 DENKO 0.375 0.005 526 0.376 8.95 — 39.2 0.308 0.170 0.220 0.210 7114 DNONCE 0.215 0.005 10972.7 0.215 179.17 — 38.8 0.635 0.250 0.340 0.330 5835 DOLMITE 0.335 -0.005 35.2 0.336 209.38 — 90.0 0.510 0.331 — — 5835PA DOLMITE-PA 0.510 — — — — — 6.3 0.920 0.660 0.715 0.680 5265 DOLPHIN 0.695 0.020 2220.9 0.689 2.69 — 154.3 1.536 1.091 1.150 1.130 7169 DOMINAN 1.140 -0.010 14.3 1.136 8.27 3.18 188.1 1.895 0.940 1.040 1.010 1619 DRBHCOM 1.020 -0.020 3035.7 1.022 — 5.88 1,971.9 0.675 0.250 0.500 0.485 7233 DUFU 0.490 0.010 1282.2 0.492 7.87 4.08 86.0 1.260 0.406 0.870 0.835 8907 EG 0.865 0.030 2448.6 0.856 4.46 — 183.0 1.600 1.000 1.140 1.130 9016 EKSONS 1.130 UNCH 68.4 1.133 — — 185.6 0.410 0.190 0.380 0.345 7217 EMETALL 0.370 -0.020 576.8 0.365 10.14 — 63.3 0.817 0.591 0.620 0.610 7773 EPMB 0.620 UNCH 28.1 0.618 24.90 1.61 102.9 1.683 0.995 1.110 1.070 5101 EVERGRN 1.100 0.040 3055.2 1.095 9.16 0.91 931.1 1.560 0.600 0.935 0.915 7249 EWEIN 0.920 -0.005 90.1 0.921 15.59 0.54 204.1 1.273 0.918 1.070 1.070 2984 FACBIND 1.070 0.010 10 1.070 15.09 2.34 91.1 3.210 2.274 2.700 2.680 7229 FAVCO 2.690 -0.040 153 2.685 6.20 4.46 591.4 0.835 0.347 0.520 0.515 0149 FIBON 0.515 -0.010 101 0.516 11.24 2.04 50.5 2.686 1.977 2.260 2.260 3107 FIMACOR 2.260 -0.040 8 2.260 10.82 5.53 554.3 3.090 1.174 2.280 2.150 5197 FLBHD 2.230 0.070 2840.2 2.218 7.25 6.73 230.1 1.645 1.370 — — 3611 GBH 1.430 — — — 3.49 10.49 266.8 2.970 0.650 1.640 1.530 7197 GESHEN 1.630 0.090 181.9 1.570 9.86 — 130.4 0.075 0.040 0.055 0.050 5220 GLOTEC 0.050 UNCH 18701.4 0.050 — — 269.1 0.400 0.200 0.230 0.200 7192 GOODWAY 0.230 UNCH 10.1 0.212 — — 25.4 0.135 0.080 — — 7096 GPA 0.080 — — — — — 78.4 0.630 0.285 0.355 0.345 5649 GPHAROS 0.355 0.015 61.9 0.348 — — 47.8 0.312 0.173 0.280 0.270 0136 GREENYB 0.270 -0.005 2991.4 0.274 14.21 2.78 90.1 0.135 0.070 — — 7077 GSB 0.100 — — — — — 52.8 1.080 0.870 0.895 0.885 3247 GUH 0.885 -0.005 40.6 0.888 23.54 5.65 245.9 0.750 0.320 0.515 0.505 5151 HALEX 0.515 0.005 260.1 0.508 — — 54.6 6.124 4.370 4.590 4.480 5168 HARTA 4.590 UNCH 3313.6 4.524 29.67 1.63 7,532.3 3.500 2.890 — — 7105 HCK 3.310 — — — 15.63 — 183.5 1.790 1.110 1.230 1.180 5095 HEVEA 1.220 0.030 4192.4 1.213 6.64 1.43 554.1 0.985 0.706 0.895 0.870 3298 HEXZA 0.895 0.025 247.2 0.879 10.98 5.03 179.3 0.570 0.200 0.455 0.420 5072 HIAPTEK 0.425 -0.010 6842.4 0.437 — 0.71 305.3 0.905 0.130 0.210 0.200 5199 HIBISCS 0.200 0.005 5159.8 0.205 — — 226.6 1.800 0.934 — — 7033 HIGHTEC 1.200 — — — 7.84 2.92 48.7 0.990 0.530 — — 8443 HIL 0.740 — — — 11.88 2.03 206.2 0.430 0.310 0.340 0.315 5165 HOKHENG 0.330 0.020 80.1 0.321 28.45 — 26.4 0.105 0.025 0.035 0.030 2739 HUAAN 0.030 UNCH 2635.5 0.032 — — 33.7 4.030 2.880 3.210 3.180 5000 HUMEIND 3.180 -0.020 167.9 3.185 21.60 0.94 1,523.5 0.152 0.055 0.065 0.060 9601 HWGB 0.060 UNCH 469.5 0.061 — — 54.4 0.960 0.760 — — 9687 IDEALUBB 0.780 — — — — — 86.2 2.070 1.371 2.070 2.050 7222 IMASPRO 2.060 -0.010 295 2.060 16.51 1.70 164.8 0.425 0.220 0.225 0.225 7183 IRETEX 0.225 0.005 75 0.225 — — 30.0 0.120 0.045 0.100 0.095 7223 JADI 0.095 -0.005 505.1 0.099 12.67 — 89.5 0.190 0.135 0.150 0.150 8648 JASKITA 0.150 0.005 10 0.150 29.41 2.00 67.4 0.300 0.075 — — 2747 JAVA 0.085 — — — — — 14.7 1.320 0.920 1.090 1.080 7043 JMR 1.090 UNCH 22 1.081 59.24 2.75 138.2 2.830 1.210 1.800 1.750 7167 JOHOTIN 1.780 0.010 327.2 1.773 9.60 2.25 166.1 1.810 1.051 1.470 1.420 4383 JTIASA 1.440 0.010 2275.9 1.453 21.79 0.69 1,402.2 0.230 0.145 0.180 0.175 0054 KARYON 0.180 0.005 47.3 0.176 15.13 2.22 85.6 1.290 0.353 0.945 0.900 7199 KEINHIN 0.945 0.045 397.2 0.928 9.33 1.06 93.6 0.985 0.430 0.600 0.580 6211 KIALIM 0.600 0.020 21 0.599 13.86 — 37.2 3.440 2.730 3.430 3.350 3522 KIANJOO 3.380 0.030 547.2 3.379 11.43 0.59 1,501.3 2.600 1.394 2.000 1.910 5371 KIMHIN 1.990 0.100 68.4 1.949 8.07 1.51 309.7 0.205 0.070 0.090 0.080 5060 KINSTEL 0.080 -0.010 7690.8 0.084 — — 83.9 2.110 1.280 1.670 1.640 9466 KKB 1.660 0.010 184.7 1.656 16.42 2.41 427.9 0.715 0.390 0.515 0.500 7164 KNM 0.505 0.010 30566.5 0.507 17.00 — 1,088.8 2.703 0.937 1.440 1.430 6971 KOBAY 1.430 -0.030 11.8 1.430 7.67 2.10 97.4 0.775 0.335 0.555 0.555 7017 KOMARK 0.555 UNCH 128.1 0.555 — — 69.2 9.500 5.490 6.350 6.290 7153 KOSSAN 6.350 0.020 359.1 6.324 19.97 1.89 4,060.6 0.600 0.400 0.480 0.470 7130 KPOWER 0.475 -0.005 20 0.475 — — 26.8 5.740 4.286 5.200 5.120 3476 KSENG 5.130 UNCH 30.6 5.139 13.63 1.95 1,854.4 0.538 0.330 — — 5192 KSSC 0.375 — — — 19.23 2.13 36.0 0.600 0.390 0.420 0.410 8362 KYM 0.420 0.010 300 0.417 — — 63.0 9.855 8.167 9.120 8.930 3794 LAFMSIA 9.120 0.170 1231.6 8.980 30.81 3.40 7,749.2 0.590 0.384 0.575 0.555 9326 LBALUM 0.570 0.010 1690.2 0.565 11.31 3.51 141.6 0.819 0.424 0.725 0.690 5092 LCTH 0.725 0.030 4609 0.712 10.45 5.52 261.0 0.605 0.420 0.510 0.505 5232 LEONFB 0.505 UNCH 699.8 0.509 8.47 2.97 156.6 0.205 0.110 0.130 0.130 8745 LEWEKO 0.130 UNCH 375.2 0.130 — — 41.8 0.075 0.030 0.050 0.045 3581 LIONCOR 0.045 UNCH 486.5 0.050 — — 59.2 0.117 0.045 0.065 0.060 2887 LIONDIV 0.065 0.005 4591.5 0.064 — — 90.5 0.475 0.220 0.475 0.450 4235 LIONIND 0.460 UNCH 5943.1 0.465 — — 330.2 0.295 0.110 0.290 0.275 9881 LSTEEL 0.290 UNCH 69.1 0.286 — — 37.1 0.120 0.060 0.075 0.070 5068 LUSTER 0.075 UNCH 2836 0.072 — — 129.9 4.250 3.180 3.550 3.490 9199 LYSAGHT 3.550 0.050 22 3.519 9.05 — 147.6 0.865 0.330 0.725 0.705 5098 MASTEEL 0.705 -0.015 1039.2 0.710 — 0.92 172.4 0.828 0.502 — — 7029 MASTER 0.605 — — — 11.22 1.65 33.0 0.555 0.350 — — 8095 MAYPAK 0.380 — — — — — 16.0 0.889 0.652 0.790 0.790 5152 MBL 0.790 0.005 53.1 0.790 11.14 3.80 72.7 0.380 0.175 0.355 0.340 3778 MELEWAR 0.345 -0.005 1021.2 0.347 143.75 — 78.2 0.805 0.500 0.550 0.550 5223 MENTIGA 0.550 UNCH 19.3 0.550 17.30 — 38.5 1.650 1.090 — — 8192 MERCURY 1.210 — — — 8.64 4.96 48.6 2.100 1.640 — — 6149 METROD 1.870 — — — 8.39 3.21 224.4 1.340 0.605 0.840 0.815 5001 MIECO 0.840 0.015 524.2 0.832 9.46 — 176.4 0.095 0.060 0.095 0.090 7219 MINETEC 0.090 UNCH 1618 0.090 — — 59.9 1.920 0.790 1.400 1.260 5576 MINHO 1.350 0.090 809.9 1.320 8.80 — 148.3 0.660 0.325 0.600 0.590 7595 MLGLOBAL 0.590 -0.010 278.4 0.591 5.20 — 52.9 2.760 2.090 2.560 2.550 5916 MSC 2.550 0.020 27.6 2.555 122.60 — 255.0 2.600 1.040 1.870 1.860 3883 MUDA 1.870 UNCH 128 1.870 21.74 1.60 570.4 1.200 0.810 0.840 0.840 7004 MULTICO 0.840 0.005 15 0.840 — — 37.3 0.425 0.210 0.420 0.395 5087 MYCRON 0.395 -0.015 854.7 0.408 4.42 — 112.0 0.200 0.080 — — 7002 NAKA 0.100 — — — — — 5.5 0.340 0.100 0.340 0.305 5025 NWP 0.330 0.015 2015.4 0.325 — — 105.6 0.705 0.454 0.590 0.580 4944 NYLEX 0.590 UNCH 42 0.584 20.70 3.39 114.7 1.060 0.647 1.050 1.000 7140 OKA 1.040 0.045 2936.4 1.039 9.65 2.88 164.5 1.300 0.890 0.995 0.990 5065 ORNA 0.990 -0.010 16 0.992 10.43 2.53 74.5 0.080 0.050 — — 7225 PA 0.060 — — — — — 56.8 7.511 5.096 6.740 6.680 5183 PCHEM 6.730 0.040 3038.8 6.729 19.34 2.67 53,840.0 1.740 1.650 1.680 1.650 5271 PECCA 1.660 -0.020 5363.6 1.664 — — 312.1 0.735 0.377 0.710 0.680 9997 PENSONI 0.710 0.035 1890 0.700 4.62 4.93 92.1 6.180 3.822 5.990 5.750 5436 PERSTIM 5.990 0.140 30.2 5.831 10.76 6.34 594.8 0.330 0.085 0.125 0.120 5146 PERWAJA 0.120 -0.010 201 0.122 — — 67.2 23.312 19.898 22.500 21.800 6033 PETGAS 22.080 0.200 629.1 22.133 21.98 2.72 43,690.4 7.310 2.550 5.450 5.400 3042 PETRONM 5.450 UNCH 46.7 5.425 6.67 — 1,471.5 14.100 5.460 13.420 13.400 7095 PIE 13.400 -0.040 80.6 13.403 20.95 0.90 1,029.2 1.089 0.766 0.960 0.950 7172 PMBTECH 0.950 UNCH 202 0.958 9.53 4.21 76.0 3.261 1.375 3.090 2.980 8869 PMETAL 3.030 0.070 2989.2 3.040 28.19 2.48 3,935.5 0.650 0.430 — — 6637 PNEPCB 0.500 — — — — — 65.7 0.480 0.345 0.380 0.370 8117 POLY 0.380 0.030 7.1 0.370 9.18 — 60.8 1.170 0.650 0.890 0.880 8273 PPHB 0.880 0.005 32 0.884 6.80 — 96.7 0.380 0.305 0.340 0.340 9458 PREMIER 0.340 0.005 37.8 0.340 82.93 — 114.6 0.570 0.400 0.540 0.530 9873 PRESTAR 0.530 UNCH 61.5 0.534 8.69 3.77 96.5 1.180 0.450 1.120 1.100 7168 PRG 1.100 -0.010 293.1 1.110 26.25 0.91 162.9 0.200 0.105 0.120 0.110 7123 PWORTH 0.110 -0.005 3029.8 0.115 20.37 — 72.0 1.750 1.360 — — 7544 QUALITY 1.500 — — — — — 86.9 0.950 0.690 — — 7498 RALCO 0.790 — — — 13.46 — 33.2 6.330 5.470 6.020 6.000 7765 RAPID 6.020 -0.010 408.9 6.014 — — 526.5 0.505 0.224 0.365 0.365 7232 RESINTC 0.365 -0.005 162.5 0.365 7.54 6.85 50.1

* 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 FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY



0.960 0.633 0.840 0.800 7803 RUBEREX 0.840 UNCH 288.5 0.818 12.94 3.57 192.6 4.200 3.154 3.680 3.660 5134 SAB 3.660 -0.100 3.5 3.677 18.60 1.37 501.2 8.280 2.745 6.520 6.430 9822 SAM 6.510 0.060 167.5 6.478 9.09 1.83 562.0 1.243 0.777 1.050 1.030 7811 SAPIND 1.030 0.010 33.1 1.039 9.69 5.83 75.0 1.870 1.130 1.570 1.540 5170 SCABLE 1.560 0.020 379.9 1.557 12.43 3.85 494.6 3.248 1.644 3.000 2.960 7247 SCGM 3.000 UNCH 16.8 2.979 16.89 3.67 396.0 1.070 0.700 0.860 0.800 9237 SCIB 0.860 0.025 3.5 0.826 260.61 — 63.3 13.600 6.410 13.040 12.960 4731 SCIENTX 13.000 0.020 244.4 12.995 13.51 1.69 2,990.0 0.925 0.280 0.325 0.320 7239 SCNWOLF 0.325 UNCH 104 0.325 — — 28.4 0.380 0.230 0.240 0.240 7366 SCOMIEN 0.240 0.005 45 0.240 16.22 — 82.1 1.350 0.526 0.910 0.895 7073 SEACERA 0.900 -0.005 511.8 0.903 58.82 3.33 170.6 0.435 0.230 — — 5145 SEALINK 0.245 — — — — — 122.5 0.770 0.325 0.350 0.325 5163 SEB 0.325 -0.015 55 0.340 — 6.15 26.0 6.350 2.600 3.160 3.100 4324 SHELL 3.100 -0.020 181.7 3.113 2.64 — 930.0 0.695 0.365 0.475 0.475 5181 SIGGAS 0.475 UNCH 8 0.475 13.89 1.47 89.1 0.720 0.480 0.620 0.620 7115 SKBSHUT 0.620 -0.020 10 0.620 — — 24.8 1.556 0.817 1.340 1.330 7155 SKPRES 1.330 -0.010 237.3 1.334 19.39 1.47 1,497.8 2.388 0.940 2.110 2.090 7248 SLP 2.110 UNCH 12 2.098 19.15 1.42 521.9 0.850 0.610 — — 7132 SMISCOR 0.750 — — — 83.33 3.33 33.6 1.170 0.690 1.130 1.110 5665 SSTEEL 1.110 -0.020 288.3 1.118 — — 465.6 0.470 0.200 0.360 0.355 7143 STONE 0.360 0.005 115 0.360 — — 32.4 2.240 1.500 — — 6904 SUBUR 1.650 — — — — — 344.9 2.550 1.300 — — 7207 SUCCESS 2.300 — — — 9.86 3.48 276.0 2.320 1.107 1.980 1.960 7235 SUPERLN 1.960 UNCH 97.7 1.970 9.61 2.55 156.8 3.534 1.870 2.800 2.740 7106 SUPERMX 2.800 0.010 1636.9 2.775 15.00 1.43 1,904.4 5.750 3.126 4.820 4.720 5012 TAANN 4.800 0.050 464.3 4.793 9.45 4.17 1,779.5 0.440 0.240 0.410 0.390 4022 TADMAX 0.400 -0.010 2355.8 0.401 2.61 — 178.1 0.830 0.370 0.415 0.400 5149 TAS 0.405 -0.015 912.9 0.407 5.34 — 72.9 15.760 13.828 15.700 15.660 4448 TASEK 15.700 0.060 2.2 15.675 20.90 7.01 1,940.9 15.800 14.900 — — 4448P TASEK-PA 15.800 — — — — 6.96 5.3 0.185 0.080 — — 5178 TATGIAP 0.110 — — — — — 17.1 0.450 0.215 — — 7097 TAWIN 0.320 — — — 17.78 — 20.6 2.210 0.700 1.250 1.220 7439 TECGUAN 1.250 0.010 82.5 1.241 6.52 — 50.1 1.720 0.685 — — 9741 TECNIC 1.410 — — — 0.61 — 57.0 0.495 0.220 0.375 0.365 6378 TEKALA 0.365 -0.010 119.1 0.368 — — 55.8 3.530 1.650 3.150 3.090 7034 TGUAN 3.150 UNCH 44.5 3.109 8.67 2.22 331.6 3.260 1.562 2.420 2.380 7374 TIENWAH 2.390 -0.010 349.7 2.397 6.79 7.53 230.6 0.800 0.640 — — 7854 TIMWELL 0.690 — — — 56.10 — 61.4 2.929 1.393 2.390 2.370 7285 TOMYPAK 2.390 UNCH 139.3 2.389 11.28 4.18 261.6 2.300 1.660 — — 5010 TONGHER 2.030 — — — — 5.91 258.7 7.030 4.870 5.150 5.020 7113 TOPGLOV 5.050 -0.080 6630.5 5.067 15.41 1.98 6,335.7 0.745 0.530 — — 7173 TOYOINK 0.635 — — — 144.32 1.57 67.9 0.215 0.140 0.150 0.150 4359 TURIYA 0.150 -0.005 8 0.150 19.74 — 34.3 1.750 1.360 1.730 1.700 7100 UCHITEC 1.710 0.010 125 1.717 13.08 6.43 676.3 5.569 2.749 5.450 5.450 7133 ULICORP 5.450 -0.030 5 5.450 29.32 2.20 791.3 1.332 0.681 1.070 1.060 7227 UMSNGB 1.070 -0.030 64.2 1.069 8.86 2.80 85.6 0.820 0.610 — — 4995 VERSATL 0.730 — — — — — 85.7 1.633 1.130 1.240 1.210 6963 VS 1.220 -0.010 3847.9 1.221 19.68 4.84 1,425.9 1.408 0.715 0.835 0.805 5142 WASEONG 0.820 0.020 4234.1 0.825 67.21 3.66 635.4 0.400 0.275 — — 7226 WATTA 0.340 — — — — — 28.7 2.150 1.377 1.750 1.730 7111 WEIDA 1.740 UNCH 74 1.736 8.40 1.72 232.0 2.865 1.609 2.510 2.500 7231 WELLCAL 2.510 -0.010 321 2.501 20.99 3.67 832.5 0.670 0.490 — — 7050 WONG 0.510 — — — — — 46.8 0.580 0.410 — — 7025 WOODLAN 0.410 — — — 28.67 — 16.4 2.407 2.054 2.200 2.170 5009 WTHORSE 2.200 0.030 8 2.191 13.57 4.55 528.0 1.550 0.895 1.280 1.240 4243 WTK 1.250 0.020 877.2 1.259 10.02 1.46 601.7 1.570 0.830 0.965 0.955 7245 WZSATU 0.955 -0.005 117.8 0.958 12.87 1.75 318.9 1.080 0.790 0.945 0.925 5048 YILAI 0.945 0.025 267.5 0.931 15.88 2.12 151.2 0.300 0.160 0.235 0.225 7020 YKGI 0.230 UNCH 102.1 0.230 — — 80.1 0.810 0.510 0.580 0.580 7014 YLI 0.580 UNCH 40 0.580 — — 58.8CONSTRUCTION 0.560 0.260 — — 7007 ARK 0.300 — — — 17.34 — 13.8 0.775 0.505 0.715 0.705 7078 AZRB 0.715 0.010 351.7 0.713 15.08 2.80 345.7 1.003 0.511 0.690 0.675 6173 BDB 0.690 0.010 96.3 0.676 7.49 5.80 209.7 0.815 0.495 0.525 0.515 5190 BENALEC 0.520 0.005 277 0.520 346.67 0.58 422.1 0.568 0.330 0.410 0.410 5932 BPURI 0.410 UNCH 36.8 0.410 23.98 4.88 95.8 1.103 0.847 0.905 0.900 8761 BREM 0.905 UNCH 44.4 0.903 17.50 3.31 312.7 1.158 0.840 0.915 0.905 8591 CRESBLD 0.905 -0.005 250.4 0.909 13.92 4.14 160.1 1.859 1.540 1.700 1.700 7528 DKLS 1.700 0.040 4 1.700 6.32 1.76 157.6 1.410 0.753 1.410 1.360 5253 ECONBHD 1.390 0.030 2310.1 1.394 12.59 1.80 743.7 1.460 0.835 1.460 1.380 8877 EKOVEST 1.460 0.090 6333.9 1.422 54.28 1.37 1,249.0 0.620 0.330 0.610 0.600 7047 FAJAR 0.610 0.005 339.9 0.605 32.11 2.05 201.3 2.580 1.100 2.130 2.070 9261 GADANG 2.110 0.050 1774.1 2.108 5.70 2.37 496.1 5.070 3.665 4.950 4.850 5398 GAMUDA 4.950 0.050 5626.8 4.916 18.67 2.42 11,940.2 1.373 0.780 0.850 0.830 5226 GBGAQRS 0.835 UNCH 122.3 0.835 — — 326.4 1.490 0.780 0.940 0.925 5169 HOHUP 0.940 0.015 2255.6 0.936 4.59 — 327.4 1.398 1.301 — — 5169PA HOHUP-PA 1.340 — — — — 1.87 10.6 1.420 1.290 — — 5169PB HOHUP-PB 1.290 — — — — 1.16 23.9 2.140 1.601 1.950 1.920 6238 HSL 1.930 UNCH 933.5 1.934 13.92 1.35 1,124.6 3.651 2.844 3.600 3.520 3336 IJM 3.600 0.060 4712.3 3.564 14.80 2.36 12,913.1 0.835 0.540 0.805 0.755 5268 IKHMAS 0.775 0.030 28064.5 0.786 13.34 — 403.0 0.863 0.480 — — 8834 IREKA 0.555 — — — — — 94.8 1.280 0.630 1.120 1.110 4723 JAKS 1.110 -0.010 978.7 1.119 11.71 — 486.6 0.455 0.195 0.220 0.215 9083 JETSON 0.220 0.005 228 0.216 22.22 — 41.4 1.860 1.170 1.830 1.810 7161 KERJAYA 1.830 0.030 30.9 1.820 10.32 1.64 486.4 1.060 0.740 0.915 0.910 3565 KEURO 0.910 -0.010 41 0.911 910.00 — 912.5 1.960 1.050 1.880 1.850 5171 KIMLUN 1.870 0.020 385 1.868 7.79 2.03 562.1 1.540 1.090 — — 9628 LEBTECH 1.540 — — — — — 210.2 1.287 0.663 0.840 0.785 5129 MELATI 0.800 -0.035 58 0.805 17.06 2.19 96.0 0.485 0.325 0.360 0.360 5006 MERGE 0.360 0.010 10 0.360 8.41 — 24.1 1.336 1.020 1.280 1.260 9571 MITRA 1.270 UNCH 541.3 1.270 9.01 2.62 816.6 0.370 0.190 — — 5924 MTDACPI 0.275 — — — — — 63.7 1.520 0.840 1.290 1.220 5085 MUDAJYA 1.260 0.020 1114 1.263 — — 696.0 2.701 1.497 2.410 2.340 5703 MUHIBAH 2.410 0.040 1207 2.403 13.41 1.66 1,137.2 0.985 0.355 0.370 0.365 8311 PESONA 0.365 UNCH 486.5 0.367 18.43 2.74 238.7 1.556 1.172 1.240 1.240 7055 PLB 1.240 0.040 1 1.240 26.33 4.03 113.2 1.994 1.366 1.780 1.700 5070 PRTASCO 1.770 0.060 2963.5 1.762 8.95 5.08 599.7 0.235 0.110 0.120 0.120 7145 PSIPTEK 0.120 UNCH 20 0.120 20.00 — 38.0 4.063 2.905 3.650 3.590 9598 PTARAS 3.600 UNCH 50.1 3.612 16.82 5.00 588.7 1.050 0.660 0.715 0.705 5205 SENDAI 0.715 0.015 78.1 0.709 9.90 1.75 553.4 1.720 0.954 1.670 1.600 5263 SUNCON 1.650 0.050 9117.7 1.653 16.79 2.42 2,133.3 0.530 0.330 0.360 0.360 9717 SYCAL 0.360 0.005 30 0.360 7.03 — 115.3 0.525 0.265 0.485 0.475 5054 TRC 0.480 0.005 858.8 0.477 7.51 1.35 230.6 1.740 0.845 1.460 1.450 5622 TRIPLC 1.460 0.010 25.5 1.451 12.75 — 96.9 0.792 0.438 0.545 0.525 5042 TSRCAP 0.525 0.005 60.2 0.538 19.16 1.70 91.6 1.760 1.083 1.680 1.660 9679 WCT 1.670 UNCH 1470.2 1.670 8.89 1.17 2,099.8 0.865 0.555 0.750 0.750 7028 ZECON 0.750 -0.005 150.8 0.750 — — 89.3 0.395 0.200 0.225 0.215 2283 ZELAN 0.225 0.010 1717 0.218 6.23 — 190.1TRADING SERVICES 0.395 0.150 0.395 0.380 5238 AAX 0.380 -0.005 115472 0.385 — — 1,576.3 0.595 0.270 0.300 0.300 5166 AEGB 0.300 0.010 0.1 0.300 — 33.33 123.0 3.300 2.470 2.880 2.820 6599 AEON 2.820 -0.010 61.2 2.832 29.65 1.77 3,959.3 0.235 0.135 0.210 0.200 7315 AHB 0.210 -0.005 1265.9 0.206 22.58 — 33.6 2.367 0.765 2.150 2.110 5099 AIRASIA 2.140 UNCH 13512.1 2.131 11.04 1.87 5,955.6 6.970 4.220 6.860 6.580 5014 AIRPORT 6.860 0.270 569.2 6.696 — 1.11 11,382.1 0.725 0.340 0.405 0.360 5115 ALAM 0.390 0.035 28441.4 0.386 6.96 — 360.5 0.095 0.080 0.090 0.090 0159 AMEDIA 0.090 UNCH 88 0.090 — — 21.6 10.626 8.984 — — 6351 AMWAY 9.600 — — — 2.78 4.17 1,578.1 2.780 1.518 2.220 2.220 7083 ANALABS 2.220 UNCH 2 2.220 10.54 1.35 133.3 0.345 0.045 0.070 0.060 5194 APFT 0.060 -0.005 18141.9 0.067 — — 26.1 1.308 0.700 0.830 0.780 5210 ARMADA 0.795 0.020 94346.5 0.807 — 2.05 4,663.7 0.175 0.105 0.120 0.110 1481 ASB 0.120 0.005 230.1 0.114 — 2.08 79.7 3.160 2.385 2.920 2.870 6399 ASTRO 2.920 0.030 1007.4 2.903 24.96 3.77 15,198.6 5.150 4.160 5.150 4.800 7048 ATLAN 5.120 0.120 66.1 5.014 28.30 5.37 1,298.7 0.495 0.285 0.495 0.475 7579 AWC 0.495 0.020 10476.7 0.487 14.60 — 128.5 6.785 5.270 5.910 5.760 6888 AXIATA 5.880 0.030 2466.5 5.866 19.93 3.74 51,877.4 0.299 0.203 0.275 0.265 5021 AYS 0.275 0.015 9.9 0.270 7.26 4.55 104.6 1.060 0.690 0.740 0.710 7251 BARAKAH 0.725 0.010 1911.2 0.725 30.21 2.76 597.8 0.599 0.335 0.490 0.480 7241 BHS 0.485 0.005 418.2 0.485 — — 203.3 0.450 0.195 0.275 0.270 6998 BINTAI 0.275 0.005 190.3 0.271 — — 59.0 7.190 6.347 — — 5032 BIPORT 6.800 — — — 24.52 3.24 3,128.0 1.370 1.080 1.230 1.180 5275 BISON 1.220 0.040 1206.2 1.211 — — 378.3 2.802 1.740 2.260 2.180 5248 BJAUTO 2.250 0.060 4283.7 2.232 12.91 4.29 2,579.9 0.462 0.336 0.395 0.385 3395 BJCORP 0.390 UNCH 4226.1 0.389 — 2.56 1,822.5 2.834 1.890 1.900 1.890 5196 BJFOOD 1.900 UNCH 535.3 1.891 37.48 1.71 718.5 0.855 0.610 0.700 0.695 4219 BJLAND 0.695 UNCH 50 0.698 — — 3,475.2 0.480 0.330 — — 6025 BJMEDIA 0.400 — — — — — 94.0 3.427 2.823 3.160 3.110 1562 BJTOTO 3.130 0.020 565.2 3.140 15.09 5.26 4,228.7 0.215 0.119 0.150 0.145 7036 BORNOIL 0.150 UNCH 7465 0.147 19.74 — 445.9 1.170 0.555 0.960 0.945 9474 BRAHIMS 0.945 -0.005 219.2 0.950 — — 223.3 4.443 3.630 3.900 3.880 2771 BSTEAD 3.880 UNCH 133.9 3.892 303.13 5.15 4,012.6 1.090 0.450 0.495 0.470 5257 CARIMIN 0.490 0.020 13.1 0.482 — — 114.6 2.140 0.990 — — 5245 CARING 1.750 — — — 28.93 1.14 381.0 3.930 2.030 3.550 3.460 2925 CCB 3.540 0.040 56.9 3.508 6.84 1.41 356.6 1.092 0.713 0.910 0.890 7117 CENTURY 0.900 -0.005 837.2 0.899 10.42 4.44 338.2 0.513 0.332 — — 7209 CHEETAH 0.450 — — — 31.03 1.67 57.4 0.633 0.400 0.430 0.420 7016 CHUAN 0.430 UNCH 45 0.426 — 1.33 72.5 0.105 0.060 0.085 0.085 5104 CNI 0.085 UNCH 50 0.085 — 3.53 61.2 1.040 0.650 0.780 0.775 5136 COMPLET 0.775 -0.005 20 0.775 25.00 3.87 94.9 0.060 0.040 0.045 0.045 5037 COMPUGT 0.045 UNCH 3706.8 0.045 75.00 — 96.0 2.070 1.390 2.040 2.010 5184 CYPARK 2.030 UNCH 1080.7 2.022 9.68 2.46 504.8 0.140 0.080 0.085 0.080 0091 DAYA 0.080 UNCH 2484.9 0.080 — — 138.9 2.770 0.990 1.390 1.330 5141 DAYANG 1.370 0.050 4208.9 1.362 7.00 5.11 1,201.6 1.662 0.870 1.240 1.220 5132 DELEUM 1.230 0.030 270.8 1.229 11.09 4.47 492.0 0.685 0.480 0.615 0.605 7212 DESTINI 0.610 0.005 732.8 0.609 23.46 — 564.6 1.679 1.284 1.600 1.580 7277 DIALOG 1.600 0.020 6853.3 1.596 28.52 1.38 8,381.2 5.321 3.530 3.900 3.860 5908 DKSH 3.870 -0.030 39.8 3.879 16.57 2.45 610.1 1.697 0.972 1.370 1.340 5216 DSONIC 1.350 -0.010 1836 1.352 35.71 1.48 1,822.5 0.430 0.240 0.280 0.255 2097 EASTLND 0.260 UNCH 15.9 0.272 7.10 — 63.9 1.476 0.732 1.140 1.130 5259 EATECH 1.130 -0.010 392.4 1.134 14.52 1.99 569.5 0.450 0.210 0.275 0.270 5036 EDARAN 0.275 UNCH 0.3 0.272 — — 16.5 0.325 0.195 0.250 0.240 7471 EDEN 0.240 UNCH 2096.9 0.242 — — 74.7 3.830 2.718 3.830 3.720 1368 EDGENTA 3.810 0.110 3031.7 3.793 16.22 3.94 3,168.5 0.366 0.178 0.290 0.285 0064 EFFICEN 0.290 UNCH 631.2 0.289 4.14 — 205.6

1.097 0.810 — — 5081 EIG 0.850 — — — 9.48 4.12 197.5 1.567 1.047 — — 5208 EITA 1.350 — — — 8.30 2.96 175.5 1.450 0.710 1.400 1.380 7189 EKIB 1.390 0.020 34.6 1.390 25.55 — 127.7 1.380 0.966 1.140 1.110 5056 ENGTEX 1.130 -0.020 1552.2 1.124 8.31 0.88 343.6 0.802 0.481 0.695 0.665 6939 FIAMMA 0.685 0.015 1195.4 0.682 5.48 3.65 363.0 0.689 0.425 0.480 0.465 9318 FITTERS 0.470 UNCH 1541.3 0.472 22.38 — 225.7 1.519 1.217 — — 7210 FREIGHT 1.280 — — — 10.78 3.91 222.6 0.340 0.145 0.175 0.165 0128 FRONTKN 0.170 UNCH 11549.3 0.170 42.50 — 179.1 0.440 0.110 — — 9377 FSBM 0.160 — — — — — 20.4 2.794 1.892 2.370 2.300 5209 GASMSIA 2.350 0.060 47.3 2.332 28.45 3.52 3,017.4 1.800 0.815 1.610 1.570 0078 GDEX 1.600 UNCH 232.7 1.590 64.52 0.63 2,213.2 4.640 3.722 4.560 4.470 4715 GENM 4.560 0.070 3003.6 4.529 20.53 1.56 27,077.5 9.900 6.510 9.600 9.060 3182 GENTING 9.600 0.460 3028.8 9.416 25.71 0.36 35,934.7 1.880 1.034 1.760 1.720 3204 GKENT 1.750 0.030 325.1 1.745 10.48 2.00 525.7 0.503 0.380 0.435 0.430 7676 GUNUNG 0.435 -0.020 291.2 0.432 — 1.38 102.7 2.580 1.773 2.560 2.540 7668 HAIO 2.560 UNCH 21 2.543 14.58 5.86 517.6 0.070 0.060 — — 7110 HAISAN 0.065 — — — — — 5.2 0.410 0.265 0.285 0.285 7253 HANDAL 0.285 UNCH 13 0.285 7.92 — 45.6 7.930 3.958 7.660 7.600 3034 HAPSENG 7.650 UNCH 1475.2 7.618 18.10 2.61 17,874.5 1.412 1.190 1.210 1.190 2062 HARBOUR 1.210 UNCH 101.9 1.198 9.24 2.07 484.5 3.467 2.800 3.020 3.010 5008 HARISON 3.020 UNCH 38 3.020 13.21 4.97 206.8 0.017 0.005 0.010 0.005 7013 HUBLINE 0.010 UNCH 142.2 0.009 — — 106.0 0.725 0.250 0.400 0.370 5255 ICON 0.385 0.015 6760.4 0.387 — — 453.2 6.750 5.320 6.700 6.620 5225 IHH 6.680 0.010 7563.8 6.674 58.70 0.45 54,937.6 0.882 0.683 0.810 0.795 5614 ILB 0.795 -0.020 26.7 0.809 — 3.14 141.5 1.630 0.920 — — 5673 IPMUDA 1.020 — — — 42.15 — 73.9 0.335 0.205 0.255 0.240 8923 JIANKUN 0.255 0.005 298 0.248 — — 38.7 1.980 1.450 — — 0058 JOBST 1.680 — — — 9.26 1.49 235.2 0.490 0.315 0.370 0.370 8672 KAMDAR 0.370 0.010 12 0.370 — — 73.3 0.450 0.290 0.315 0.315 5079 KBES 0.315 UNCH 20 0.315 — — 39.7 1.971 1.638 1.900 1.880 6491 KFIMA 1.890 0.010 85.6 1.886 11.46 4.50 523.5 0.408 0.230 0.250 0.250 0151 KGB 0.250 UNCH 46 0.250 — 2.00 55.0 1.944 1.250 — — 5035 KNUSFOR 1.450 — — — 83.33 3.45 144.5 4.379 3.904 4.290 4.220 5878 KPJ 4.220 -0.070 139.1 4.242 32.31 1.66 4,457.5 1.499 0.955 1.080 1.060 5843 KPS 1.060 -0.010 315.2 1.071 13.37 3.77 528.9 0.650 0.350 0.605 0.590 9121 KPSCB 0.600 UNCH 249.3 0.596 2.80 — 88.7 0.345 0.190 0.200 0.195 4847 KTB 0.195 UNCH 796.8 0.195 62.90 — 78.5 0.455 0.235 0.285 0.285 6874 KUB 0.285 UNCH 442.9 0.285 19.79 — 158.6 0.350 0.165 — — 7170 LFECORP 0.285 — — — 29.08 — 51.7 0.770 0.500 0.710 0.700 8486 LIONFIB 0.705 UNCH 277.1 0.706 — — 163.3 1.940 0.969 1.720 1.710 5143 LUXCHEM 1.720 UNCH 44.7 1.716 11.39 3.78 458.2 2.666 2.392 2.450 2.420 3859 MAGNUM 2.430 UNCH 888.8 2.436 15.09 6.58 3,493.7 1.855 1.165 1.690 1.670 5264 MALAKOF 1.680 UNCH 271.1 1.683 3.43 4.17 8,400.0 0.185 0.135 0.160 0.155 3514 MARCO 0.155 UNCH 167.8 0.155 8.29 1.29 163.4 7.034 5.516 6.000 5.930 6012 MAXIS 5.950 0.020 2568.2 5.952 25.61 3.36 44,686.0 1.248 0.510 0.940 0.900 5077 MAYBULK 0.920 0.010 8260.9 0.923 — 1.09 920.0 3.410 1.914 2.180 2.150 5983 MBMR 2.160 -0.020 189.5 2.163 10.50 3.24 843.9 1.587 0.997 1.460 1.440 4502 MEDIA 1.460 0.010 520.2 1.449 11.68 6.85 1,619.4 0.750 0.484 0.710 0.705 5090 MEDIAC 0.710 0.005 11 0.709 10.55 5.93 1,197.9 1.000 0.650 0.740 0.665 7234 MESB 0.740 0.005 25 0.703 151.02 — 31.1 2.306 1.654 1.780 1.770 3069 MFCB 1.780 0.010 187.7 1.774 6.09 4.29 715.4 1.380 0.875 1.340 1.290 5186 MHB 1.290 -0.010 1860.9 1.311 46.74 — 2,064.0 9.171 7.227 9.000 8.800 3816 MISC 8.900 UNCH 1315.7 8.898 16.11 3.37 39,727.8 2.754 1.490 2.110 2.080 2194 MMCCORP 2.100 UNCH 271.3 2.093 26.18 1.81 6,394.6 0.540 0.330 0.360 0.360 0059 MMODE 0.360 UNCH 53 0.360 6.28 2.78 58.6 0.125 0.060 0.070 0.070 0043 MTRONIC 0.070 UNCH 50 0.070 11.67 — 53.1 0.240 0.155 0.180 0.175 3891 MUIIND 0.180 UNCH 1247.2 0.176 — — 527.9 0.400 0.245 0.295 0.280 3905 MULPHA 0.285 -0.010 2615.6 0.287 3.59 — 671.4 2.380 1.241 2.080 2.050 0138 MYEG 2.060 -0.010 7059.3 2.067 48.93 0.58 4,952.7 1.150 0.560 0.800 0.740 9806 NATWIDE 0.800 0.080 15 0.772 — — 48.1 0.135 0.070 0.070 0.070 4464 NICORP 0.070 -0.005 40 0.070 38.89 — 60.4 1.007 0.660 — — 5533 OCB 0.800 — — — 14.11 2.50 82.3 0.840 0.583 0.840 0.820 0172 OCK 0.830 UNCH 2153.1 0.831 20.75 0.72 657.6 1.706 1.207 1.440 1.420 5201 OLDTOWN 1.430 0.010 36.8 1.432 14.52 4.20 662.4 0.150 0.085 0.100 0.100 3018 OLYMPIA 0.100 UNCH 235 0.100 11.49 — 102.3 2.750 1.646 2.380 2.330 5260 OWG 2.370 0.060 621 2.355 28.01 — 554.6 0.501 0.378 — — 8419 PANSAR 0.425 — — — 13.71 5.29 119.0 0.720 0.445 0.595 0.580 5125 PANTECH 0.595 0.020 324.2 0.589 9.55 3.53 366.8 2.045 0.865 0.950 0.930 5657 PARKSON 0.945 0.010 1012.4 0.941 — — 1,033.7 1.410 0.896 1.120 1.110 5041 PBA 1.110 UNCH 219.2 1.115 12.63 3.38 367.7 0.145 0.055 0.075 0.070 6254 PDZ 0.070 UNCH 1071 0.071 — — 60.9 1.427 0.816 1.330 1.260 5133 PENERGY 1.330 0.070 384.5 1.298 8.35 1.50 427.9 1.570 1.320 — — 7108 PERDANA 1.540 — — — — 1.30 1,198.8 0.590 0.230 0.280 0.255 0047 PERISAI 0.270 0.020 30899.9 0.266 — — 330.1 0.245 0.135 0.155 0.150 7080 PERMAJU 0.150 -0.005 30.8 0.155 — — 29.4 7.047 4.718 6.610 6.600 5219 PESTECH 6.600 -0.080 5.5 6.604 16.22 1.06 1,231.5 26.089 18.351 24.040 23.640 5681 PETDAG 23.820 0.060 164.7 23.816 29.97 2.52 23,664.1 0.250 0.030 — — 7027 PETONE 0.055 — — — 0.48 — 2.8 7.184 5.176 5.700 5.650 7081 PHARMA 5.650 -0.050 5.7 5.669 17.41 5.31 1,462.7 0.270 0.155 0.160 0.160 7201 PICORP 0.160 UNCH 101 0.160 — 2.38 105.3 0.420 0.210 — — 7163 PJBUMI 0.215 — — — — — 10.8 5.058 2.040 2.670 2.620 4634 POS 2.640 0.020 112.7 2.650 20.66 4.96 1,417.7 3.259 1.559 2.900 2.890 5204 PRESBHD 2.890 -0.020 2606 2.890 81.18 1.30 1,398.8 3.310 2.410 2.570 2.510 8346 PRKCORP 2.570 0.020 2.7 2.514 3.06 — 257.0 1.150 1.000 1.110 1.070 5272 RANHILL 1.100 0.020 740.4 1.091 26.25 — 977.1 0.200 0.100 0.160 0.155 0037 RGB 0.160 0.005 11005.5 0.160 9.58 3.13 210.9 0.450 0.340 0.390 0.380 8885 RPB 0.390 UNCH 21.3 0.383 — — 334.8 0.921 0.545 0.660 0.650 8567 SALCON 0.655 0.005 949.5 0.654 19.85 4.58 443.9 0.935 0.603 0.755 0.755 5147 SAMCHEM 0.755 UNCH 10 0.755 25.42 4.64 102.7 0.660 0.430 0.450 0.430 7185 SAMUDRA 0.450 UNCH 27.1 0.440 8.75 — 83.6 0.205 0.090 0.120 0.120 9113 SANBUMI 0.120 -0.005 96 0.120 — — 22.7 2.450 1.543 2.380 2.310 0099 SCICOM 2.380 0.080 193.6 2.367 21.23 3.36 846.0 0.255 0.135 0.195 0.185 7158 SCOMI 0.190 UNCH 9986.3 0.190 7.04 — 364.3 0.495 0.195 0.240 0.230 7045 SCOMIES 0.235 0.005 2469.2 0.235 11.03 — 550.3 1.310 0.968 — — 7053 SEEHUP 1.100 — — — 4.80 4.09 57.5 1.404 1.210 1.250 1.210 9792 SEG 1.230 UNCH 464.4 1.226 32.98 10.57 920.2 1.747 1.293 1.390 1.370 5250 SEM 1.390 0.010 860.4 1.381 30.48 1.65 1,714.4 9.157 6.485 7.990 7.880 4197 SIME 7.970 0.070 2010.6 7.948 25.04 3.14 50,426.8 0.900 0.720 — — 9431 SJC 0.740 — — — 22.16 1.35 30.0 2.846 1.360 1.810 1.780 5218 SKPETRO 1.790 0.020 24040.3 1.791 — 1.13 10,726.0 1.530 1.330 1.340 1.330 5242 SOLID 1.340 0.010 30 1.333 28.76 1.94 221.9 2.470 2.206 2.460 2.440 6084 STAR 2.440 UNCH 4.2 2.443 13.56 7.38 1,802.1 3.427 2.448 — — 9865 SUIWAH 2.500 — — — 18.78 2.40 152.5 0.230 0.100 0.135 0.125 1201 SUMATEC 0.130 0.010 21878.2 0.129 11.71 — 457.3 2.658 1.877 2.270 2.250 6521 SURIA 2.250 -0.020 33 2.262 4.94 3.11 648.4 0.495 0.330 0.385 0.385 5173 SYSCORP 0.385 UNCH 56 0.385 104.05 — 462.0 1.662 1.192 1.320 1.300 8524 TALIWRK 1.310 0.010 421.3 1.312 17.31 6.11 1,584.4 2.191 1.471 1.570 1.570 5140 TASCO 1.570 0.020 3.8 1.570 11.33 2.87 314.0 14.600 10.103 14.600 14.340 5347 TENAGA 14.500 0.100 11937.3 14.499 14.25 2.00 81,832.4 1.850 1.229 1.720 1.690 8702 TEXCHEM 1.690 -0.040 22.6 1.713 20.86 8.88 209.7 0.510 0.300 0.310 0.305 7228 TGOFFS 0.310 UNCH 178 0.308 — — 118.3 0.345 0.130 0.145 0.135 7206 THHEAVY 0.140 0.010 12355.1 0.141 — — 157.0 7.337 5.792 6.730 6.690 4863 TM 6.730 0.030 6753 6.708 35.95 3.18 25,290.9 0.815 0.460 0.790 0.780 0101 TMCLIFE 0.785 UNCH 215.5 0.785 69.47 0.18 1,360.3 1.500 0.882 1.340 1.320 8397 TNLOGIS 1.320 -0.010 135.5 1.330 7.03 3.03 555.3 0.550 0.330 — — 7218 TOCEAN 0.480 — — — 80.00 — 19.7 3.006 2.661 — — 5711 TSTORE 2.760 — — — 18.54 1.36 189.1 1.321 0.900 0.980 0.970 5167 TURBO 0.980 0.030 15.6 0.976 12.52 5.10 105.8 2.989 2.218 2.710 2.700 7137 UMS 2.700 UNCH 7.3 2.703 6.51 2.22 109.9 2.380 0.860 0.990 0.950 5243 UMWOG 0.965 0.025 11467.1 0.971 — 1.04 2,086.3 1.430 1.130 1.340 1.250 7091 UNIMECH 1.330 0.070 276.3 1.304 15.08 3.38 171.0 0.750 0.500 0.525 0.520 5754 UTUSAN 0.520 0.005 14.3 0.525 — — 57.6 2.600 1.560 2.040 1.940 7250 UZMA 2.000 0.070 1123.4 1.990 93.02 1.89 581.9 0.815 0.360 — — 7240 VOIR 0.720 — — — — — 95.0 3.000 2.130 2.300 2.300 5016 WARISAN 2.300 UNCH 0.2 2.300 130.68 3.04 154.6 0.545 0.420 — — 7692 WIDETEC 0.440 — — — 20.66 — 19.7 4.541 3.566 4.280 4.180 5246 WPRTS 4.270 0.090 6238.4 4.248 28.85 2.60 14,560.7 1.438 0.744 1.060 1.030 5267 XINHWA 1.040 0.010 356.8 1.049 11.49 1.44 187.2 0.105 0.025 0.035 0.035 7122 YFG 0.035 UNCH 461.3 0.035 — — 21.3 3.236 2.310 2.740 2.710 7293 YINSON 2.740 0.010 41.6 2.714 12.94 0.55 2,994.3 0.880 0.435 0.880 0.860 7066 YONGTAI 0.870 0.005 1425.7 0.870 110.13 — 139.5 1.710 1.349 1.640 1.620 4677 YTL 1.630 0.010 5903.6 1.630 18.48 5.83 17,594.2FINANCE 14.355 10.780 12.800 12.700 5139 AEONCR 12.780 0.020 1.9 12.752 63.58 4.65 1,840.3 2.961 2.073 2.360 2.330 5185 AFFIN 2.360 0.020 934.5 2.350 12.42 3.39 4,585.4 4.717 3.070 4.150 4.060 2488 AFG 4.140 0.080 3023.7 4.121 13.02 3.48 6,409.2 13.200 9.770 10.220 10.220 1163 ALLIANZ 10.220 -0.200 0.2 10.220 5.56 0.49 1,730.3 13.400 9.650 — — 1163PA ALLIANZ-PA 10.380 — — — — 0.58 955.4 6.224 4.126 4.650 4.600 1015 AMBANK 4.640 0.040 4202.3 4.623 9.04 4.38 13,985.8 1.970 1.351 1.800 1.700 5088 APEX 1.750 0.050 4.5 1.759 19.27 6.86 373.7 4.148 3.170 3.950 3.820 5258 BIMB 3.900 0.050 288.2 3.888 10.98 3.13 6,195.8 8.950 7.329 8.920 8.850 1818 BURSA 8.880 -0.020 114.3 8.886 23.89 3.89 4,749.6 6.092 3.841 4.930 4.850 1023 CIMB 4.920 0.050 12700.8 4.906 14.60 2.85 41,954.2 0.500 0.310 0.355 0.355 2143 ECM 0.355 0.005 0.5 0.355 8.24 — 101.7 1.321 1.192 1.240 1.230 5228 ELKDESA 1.240 UNCH 204.9 1.240 8.88 5.53 229.2 13.633 11.509 13.620 13.520 5819 HLBANK 13.620 0.100 1014.8 13.584 12.50 2.95 29,524.3 10.100 7.327 — — 5274 HLCAP 10.100 — — — 30.40 0.84 2,493.7 16.346 12.153 15.500 15.120 1082 HLFG 15.500 0.300 400.6 15.244 10.26 2.42 17,786.5 2.640 1.778 2.180 2.170 6688 HWANG 2.170 -0.010 15 2.179 14.94 4.61 553.7 1.035 0.572 0.710 0.700 3379 INSAS 0.705 UNCH 446.2 0.702 5.64 1.42 488.8 0.920 0.842 0.910 0.910 3379PA INSAS-PA 0.910 UNCH 24.9 0.910 — 4.40 120.7 0.195 0.105 0.115 0.115 3441 JOHAN 0.115 UNCH 142 0.115 — — 71.6 2.650 1.608 2.500 2.490 5096 KAF 2.500 UNCH 14.5 2.498 51.12 4.00 300.0 0.764 0.460 0.520 0.515 6483 KENANGA 0.520 UNCH 10 0.519 33.33 1.92 380.5 15.804 13.847 15.700 15.520 8621 LPI 15.700 0.080 6 15.601 15.83 4.46 5,212.2 0.990 0.624 0.980 0.970 1198 MAA 0.975 UNCH 92.7 0.971 11.76 6.15 285.4 3.127 2.650 2.910 2.890 1058 MANULFE 2.890 0.050 9.5 2.896 13.07 3.46 584.8 9.200 8.180 9.070 8.990 1155 MAYBANK 9.010 -0.020 9255.9 9.012 12.51 5.99 88,022.5 2.189 1.260 1.360 1.350 1171 MBSB 1.350 -0.010 378.8 1.354 13.93 7.41 3,833.2 4.180 2.820 3.000 3.000 6459 MNRB 3.000 -0.050 25.2 3.000 9.17 — 639.2 1.970 1.290 1.460 1.440 5237 MPHBCAP 1.450 UNCH 154.9 1.449 16.37 — 1,036.8 1.477 1.227 1.330 1.320 6009 P&O 1.330 UNCH 37 1.329 13.30 7.29 327.1 19.380 16.745 19.260 19.020 1295 PBBANK 19.100 0.080 5818.1 19.092 14.57 2.93 74,148.8 0.960 0.727 0.805 0.785 9296 RCECAP 0.790 -0.010 744.3 0.793 23.10 1.90 269.4

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




7.749 4.911 6.280 6.240 1066 RHBCAP 6.280 0.030 703.3 6.265 10.81 1.91 19,309.0 0.704 0.505 0.555 0.545 4898 TA 0.555 0.005 568.4 0.551 — 3.24 950.1 4.440 3.654 4.080 4.050 6139 TAKAFUL 4.080 0.020 161.3 4.056 21.32 3.52 3,346.3 1.860 1.100 1.410 1.390 5230 TUNEPRO 1.390 -0.010 722.5 1.397 15.16 2.91 1,044.9PROPERTIES 0.992 0.693 0.905 0.895 1007 AMPROP 0.900 -0.010 49.8 0.901 6.35 3.33 540.9 1.138 0.760 0.945 0.915 5959 A&M 0.915 -0.020 241 0.927 14.01 1.64 334.0 0.507 0.354 0.460 0.445 1007PA AMPROP-PA 0.445 UNCH 24.4 0.449 — 4.49 131.6 0.295 0.155 0.190 0.185 4057 ASIAPAC 0.185 -0.005 506.5 0.189 0.48 1.62 183.6 0.680 0.490 0.500 0.490 6602 BCB 0.500 UNCH 57 0.493 5.94 — 206.3 0.710 0.475 — — 9814 BERTAM 0.515 — — — 8.37 — 106.5 0.909 0.721 0.800 0.790 3239 BJASSET 0.800 UNCH 129 0.794 23.05 1.25 890.4 1.420 0.900 — — 5738 CHHB 1.020 — — — — — 281.2 2.362 1.590 1.690 1.670 6718 CRESNDO 1.680 -0.010 112.3 1.681 21.43 2.98 471.2 2.648 1.434 — — 5049 CVIEW 1.530 — — — 7.23 13.07 153.0 2.595 1.939 2.330 2.310 5355 DAIMAN 2.320 0.010 63.9 2.321 16.32 2.16 492.3 1.080 0.430 0.840 0.820 3484 DBHD 0.835 0.015 157.5 0.836 — — 258.3 1.949 1.380 1.600 1.550 3417 E&O 1.590 0.010 353.4 1.576 13.05 1.89 2,003.1 0.355 0.210 0.240 0.230 3557 ECOFIRS 0.240 UNCH 336.6 0.236 9.06 — 175.2 1.850 1.170 1.350 1.300 8206 ECOWLD 1.310 -0.010 6318.9 1.314 45.17 — 3,097.2 1.510 0.680 0.700 0.680 6076 ENCORP 0.700 UNCH 6.3 0.693 53.03 — 195.1 2.950 1.750 — — 8613 ENRA 2.130 — — — 28.51 — 290.1 1.000 0.655 0.800 0.780 6815 EUPE 0.800 0.020 60.7 0.785 13.40 1.88 102.4 0.626 0.445 0.530 0.525 6041 FARLIM 0.525 0.015 38 0.528 5.80 9.52 73.7 0.931 0.710 0.820 0.820 5020 GLOMAC 0.820 -0.005 50 0.820 6.70 5.18 596.8 0.502 0.332 0.395 0.395 9962 GMUTUAL 0.395 UNCH 3.5 0.395 9.27 5.06 148.4 0.665 0.425 0.515 0.505 1147 GOB 0.505 UNCH 2548.7 0.507 4.20 — 229.6 1.459 1.005 1.250 1.210 1503 GUOCO 1.240 -0.010 64.7 1.228 4.22 1.61 868.6 0.750 0.430 — — 7010 HOOVER 0.550 — — — — — 22.0 2.041 1.547 1.840 1.830 5062 HUAYANG 1.830 0.010 109.5 1.832 4.08 7.10 483.1 0.668 0.455 0.550 0.520 4251 IBHD 0.540 0.025 2486.7 0.542 13.33 2.80 535.7 1.313 0.950 1.020 1.020 5084 IBRACO 1.020 UNCH 2 1.020 14.01 3.43 506.3 2.824 2.213 2.560 2.470 1597 IGB 2.510 0.020 1330.8 2.488 15.80 3.98 3,425.6 2.450 1.735 2.420 2.390 5249 IOIPG 2.410 0.010 1344.7 2.404 9.68 2.49 10,660.9 0.480 0.315 0.365 0.360 5175 IVORY 0.360 -0.005 90.6 0.363 8.45 — 160.4 1.340 0.745 0.840 0.805 1589 IWCITY 0.825 0.015 3196.5 0.825 76.39 — 552.5 0.325 0.185 0.210 0.205 6769 JKGLAND 0.210 UNCH 59 0.206 8.37 0.95 159.2 0.080 0.040 0.050 0.050 3115 KBUNAI 0.050 UNCH 282 0.050 — — 288.8 1.217 0.850 — — 7323 KEN 1.020 — — — 7.85 2.94 195.6 2.004 1.200 1.280 1.270 5038 KSL 1.280 0.010 162 1.276 4.60 5.47 1,296.1 0.539 0.324 0.350 0.345 3174 L&G 0.350 0.005 241.6 0.346 7.99 5.71 382.6 1.548 1.209 1.390 1.370 8494 LBICAP 1.390 0.010 123.2 1.379 6.49 3.60 104.8 1.630 1.179 1.590 1.570 5789 LBS 1.590 0.010 260.6 1.583 11.24 2.04 878.6 0.385 0.230 0.255 0.250 3573 LIENHOE 0.255 0.005 10 0.251 — — 92.2 1.129 0.805 0.995 0.990 7617 MAGNA 0.995 0.005 43 0.995 1.65 8.04 331.2 1.692 1.240 1.560 1.510 8583 MAHSING 1.520 -0.030 1510.2 1.521 9.52 4.28 3,662.3 0.929 0.607 0.730 0.720 6181 MALTON 0.725 0.010 1297.9 0.724 9.77 4.14 325.1 2.649 1.999 2.570 2.540 5236 MATRIX 2.560 -0.010 557 2.551 6.58 5.62 1,443.9 1.380 1.032 — — 5182 MCT 1.230 — — — 21.39 1.63 1,641.8 0.635 0.495 0.520 0.515 5040 MEDAINC 0.520 -0.005 473 0.520 — — 256.1 0.930 0.555 0.860 0.840 1694 MENANG 0.855 0.020 1070.4 0.852 6.94 — 228.4 0.440 0.275 0.320 0.300 8141 MJPERAK 0.320 0.015 3.8 0.304 6.57 — 63.5 2.810 1.842 2.710 2.670 6114 MKH 2.680 -0.030 190.9 2.686 9.49 2.61 1,124.1 0.457 0.286 0.365 0.365 8893 MKLAND 0.365 UNCH 273.6 0.365 10.86 8.22 440.7 0.255 0.145 — — 6548 MPCORP 0.180 — — — — — 51.8 1.482 0.775 1.260 1.230 1651 MRCB 1.250 0.010 3013.5 1.246 6.75 2.00 2,233.2 1.500 0.850 — — 9539 MUH 0.880 — — — 5.57 — 49.6 0.390 0.265 0.315 0.290 3913 MUIPROP 0.315 0.025 1078.1 0.300 — — 240.7 2.980 1.950 2.400 2.360 5073 NAIM 2.380 -0.010 103.5 2.382 16.43 1.47 595.0 2.980 1.379 2.570 2.550 5827 OIB 2.550 UNCH 14.6 2.565 11.95 2.94 369.4 1.993 1.473 1.660 1.650 5053 OSK 1.650 -0.010 158.7 1.654 3.48 3.03 2,314.8 2.051 1.374 1.560 1.540 1724 PARAMON 1.550 0.020 86.1 1.553 10.41 4.84 655.5 0.580 0.280 0.325 0.315 6912 PASDEC 0.315 -0.010 99 0.320 — — 64.9 1.477 1.253 1.400 1.370 1945 PJDEV 1.400 -0.010 16.5 1.388 11.23 5.36 740.4 2.343 1.679 1.770 1.730 5075 PLENITU 1.730 -0.050 2 1.750 3.96 2.60 660.1 0.300 0.195 — — 2208 PTGTIN 0.240 — — — — — 83.1 1.730 0.715 1.150 1.130 4596 SAPRES 1.130 -0.030 78 1.145 53.30 2.21 157.7 1.201 0.625 0.720 0.715 5207 SBCCORP 0.720 0.005 45.4 0.716 11.39 2.22 169.1 1.016 0.855 1.010 0.995 2224 SDRED 1.000 UNCH 87.5 1.005 5.86 3.00 426.1 0.750 0.450 0.480 0.475 4286 SEAL 0.475 -0.005 61.9 0.480 — — 105.2 3.308 2.740 2.930 2.930 6017 SHL 2.930 UNCH 2 2.930 6.78 8.53 709.4 0.205 0.130 0.150 0.140 4375 SMI 0.140 -0.005 17.2 0.144 — — 29.4 1.097 0.735 0.790 0.775 5213 SNTORIA 0.790 UNCH 15.2 0.777 12.62 2.53 382.4 5.482 4.111 5.090 5.030 1783 SPB 5.040 -0.060 94.7 5.077 3.33 2.38 1,731.8 3.462 2.800 3.330 3.220 8664 SPSETIA 3.300 -0.010 1098.1 3.302 10.79 2.94 8,673.9 1.189 0.810 0.855 0.845 3743 SUNSURIA 0.845 0.005 71.4 0.850 15.04 — 675.0 3.404 2.836 3.160 3.100 5211 SUNWAY 3.150 0.030 283.9 3.135 7.54 3.49 6,260.9 0.845 0.690 0.725 0.725 1538 SYMLIFE 0.725 0.005 10 0.725 22.04 6.90 224.8 0.325 0.225 0.240 0.240 5158 TAGB 0.240 UNCH 272.4 0.240 29.27 4.17 1,277.2 8.648 6.000 — — 2305 TAHPS 6.400 — — — 20.30 5.00 479.1 0.085 0.045 0.055 0.050 2259 TALAMT 0.055 0.005 16255.8 0.055 137.50 — 232.1 1.762 1.133 1.430 1.400 5191 TAMBUN 1.420 0.030 363.7 1.419 5.94 6.83 603.2 0.195 0.095 0.115 0.105 2429 TANCO 0.115 UNCH 194.9 0.108 — — 38.5 0.760 0.275 0.280 0.280 7889 THRIVEN 0.280 UNCH 28 0.280 96.55 — 105.5 0.099 0.045 0.055 0.050 7079 TIGER 0.055 0.005 5837 0.051 — — 76.5 1.944 1.350 1.490 1.440 5239 TITIJYA 1.490 UNCH 244 1.469 6.76 3.02 536.4 1.149 0.774 1.010 1.000 5401 TROP 1.010 UNCH 249 1.002 6.76 6.93 1,461.9 1.370 0.755 1.080 1.060 5148 UEMS 1.060 UNCH 3458.5 1.067 18.69 2.83 4,809.7 2.280 1.680 2.210 2.190 5200 UOADEV 2.190 -0.010 1246 2.200 7.79 5.94 3,330.5 1.601 1.113 — — 2976 WINGTM 1.200 — — — 9.20 2.50 584.4 1.764 0.756 — — 7003 Y&G 1.140 — — — 7.86 7.68 227.3 2.100 1.535 2.050 1.990 3158 YNHPROP 2.000 -0.100 2715.7 2.032 42.92 — 882.9 0.800 0.595 0.645 0.635 2577 YTLLAND 0.640 -0.005 82.2 0.641 18.39 — 540.4MINING 1.400 1.140 1.240 1.240 2186 KUCHAI 1.240 0.020 7 1.240 — 0.69 153.4PLANTATIONS 2.020 1.000 1.870 1.810 7054 AASIA 1.860 -0.010 176.2 1.837 — 1.08 223.2 18.360 16.560 17.920 17.880 1899 BKAWAN 17.880 UNCH 6.2 17.897 9.63 2.80 7,794.8 9.500 7.612 — — 5069 BLDPLNT 8.710 — — — — 0.23 814.4 1.568 1.053 1.510 1.490 5254 BPLANT 1.490 -0.010 38.8 1.500 30.28 — 2,384.0 0.830 0.685 0.745 0.730 8982 CEPAT 0.740 0.010 37.2 0.737 23.27 2.70 235.7 9.141 7.500 — — 1929 CHINTEK 8.000 — — — 28.28 2.00 730.9 0.595 0.380 0.475 0.460 3948 DUTALND 0.475 0.015 506.6 0.463 6.72 — 401.9 8.194 6.910 — — 5029 FAREAST 7.800 — — — 15.47 3.85 1,102.8 2.104 1.166 1.510 1.480 5222 FGV 1.500 0.020 7640 1.497 128.21 4.00 5,472.2 11.560 8.494 10.700 10.540 2291 GENP 10.640 0.080 1894.5 10.587 43.29 0.52 8,383.5 1.780 1.037 1.450 1.450 7382 GLBHD 1.450 UNCH 7 1.450 — 0.69 323.2 1.450 0.886 — — 2135 GOPENG 1.360 — — — 33.09 2.21 243.9 1.160 0.790 0.875 0.875 7501 HARNLEN 0.875 -0.025 7 0.875 — 9.14 162.3 2.518 1.881 2.410 2.410 5138 HSPLANT 2.410 UNCH 8 2.410 19.98 3.32 1,928.0 3.800 2.990 3.520 3.510 2216 IJMPLNT 3.520 -0.050 41 3.518 61.01 1.70 3,099.6 0.745 0.605 0.720 0.705 2607 INCKEN 0.720 0.020 102.5 0.712 — — 302.9 0.785 0.545 0.700 0.690 6262 INNO 0.690 -0.010 29.9 0.696 13.94 — 329.9 5.040 3.622 4.480 4.390 1961 IOICORP 4.460 0.040 6036.9 4.454 — 1.79 28,819.7 24.780 19.357 24.160 23.880 2445 KLK 24.000 0.080 1118.4 23.974 17.61 1.88 25,620.1 3.569 2.891 — — 2453 KLUANG 3.300 — — — — 0.30 208.5 3.600 2.146 3.390 3.380 5027 KMLOONG 3.380 UNCH 8 3.380 14.26 3.85 1,053.9 0.645 0.345 0.580 0.575 1996 KRETAM 0.575 UNCH 505.5 0.576 — — 1,078.1 3.970 2.410 3.970 3.960 2003 KULIM 3.970 0.010 828.9 3.962 38.92 2.39 5,563.6 1.920 1.410 — — 6572 KWANTAS 1.500 — — — — — 467.5 1.860 1.500 — — 4936 MALPAC 1.750 — — — — — 131.3 0.995 0.800 — — 5026 MHC 0.940 — — — 46.53 2.13 184.8 2.850 1.930 — — 5047 NPC 2.330 — — — — 0.43 279.6 5.033 3.900 — — 2038 NSOP 4.100 — — — 47.79 1.46 287.8 0.350 0.200 — — 1902 PINEPAC 0.280 — — — — — 41.9 1.220 0.800 — — 9695 PLS 1.030 — — — — — 336.5 0.675 0.465 0.585 0.560 5113 RSAWIT 0.585 0.020 664.7 0.576 — — 829.8 4.080 3.442 3.800 3.800 2542 RVIEW 3.800 0.040 16 3.800 39.34 1.58 246.4 3.300 2.653 3.120 3.100 2569 SBAGAN 3.100 -0.020 10 3.110 — 0.65 205.6 0.825 0.450 — — 4316 SHCHAN 0.700 — — — — — 80.5 5.030 3.610 4.520 4.450 5126 SOP 4.500 -0.050 41.6 4.500 23.39 1.11 1,986.8 2.189 1.654 2.040 2.010 5135 SWKPLNT 2.020 0.020 7 2.027 26.51 3.71 565.6 0.810 0.510 0.760 0.750 2054 TDM 0.755 0.010 286.9 0.754 15.07 1.99 1,118.7 1.610 1.090 1.260 1.240 5112 THPLANT 1.260 0.010 98.6 1.251 17.95 1.59 1,113.7 1.680 1.150 1.470 1.410 5251 TMAKMUR 1.450 0.040 1452.1 1.435 10.83 10.34 577.3 2.350 1.730 2.120 2.090 9059 TSH 2.090 -0.020 160.8 2.106 — 1.20 2,811.9 6.312 5.280 6.020 6.000 2593 UMCCA 6.020 0.010 31.1 6.017 25.48 2.66 1,259.5 27.680 24.620 — — 2089 UTDPLT 26.700 — — — 18.15 1.50 5,557.2HOTELS 0.780 0.515 — — 5592 GCE 0.565 — — — — 3.54 111.3 1.430 0.840 0.960 0.925 1643 LANDMRK 0.960 0.035 29.1 0.926 — — 461.6 0.345 0.205 0.335 0.330 1287 PMHLDG 0.330 -0.010 553.6 0.334 3300 — 306.5 6.966 5.300 5.640 5.600 5517 SHANG 5.640 0.010 29.2 5.606 19.14 2.48 2,481.6TECHNOLOGY 0.900 0.630 — — 7031 AMTEL 0.675 — — — 40.66 — 33.3 0.455 0.195 0.275 0.270 5195 CENSOF 0.275 0.010 2212.5 0.270 11.60 — 138.0 0.240 0.100 0.105 0.100 0051 CUSCAPI 0.100 -0.005 13 0.101 — — 43.6 0.430 0.240 0.305 0.300 7204 D&O 0.305 0.005 275 0.301 29.33 — 301.2 0.255 0.130 0.155 0.155 8338 DATAPRP 0.155 -0.005 38 0.155 — — 59.4 0.235 0.155 0.165 0.165 0029 DIGISTA 0.165 0.005 419.1 0.165 — — 84.0 0.320 0.180 0.240 0.235 4456 DNEX 0.235 -0.005 1506 0.239 16.32 — 182.2 1.780 1.160 1.710 1.680 5162 ECS 1.690 -0.010 300.6 1.697 9.44 3.55 304.2 1.060 0.517 0.960 0.925 0065 EFORCE 0.960 0.030 1990.3 0.940 26.30 3.13 198.5 2.056 1.149 1.700 1.680 0090 ELSOFT 1.680 -0.020 63 1.698 11.63 4.76 304.3 1.280 0.710 0.910 0.875 0021 GHLSYS 0.900 0.035 1005.7 0.897 56.25 — 585.7 0.305 0.185 0.265 0.245 0082 GPACKET 0.260 0.010 11111 0.258 — — 179.5 0.319 0.240 0.255 0.250 0056 GRANFLO 0.255 UNCH 100 0.255 10.08 3.92 123.2 6.795 5.055 5.380 5.340 7022 GTRONIC 5.370 0.020 331.2 5.348 21.18 2.05 1,513.6 0.743 0.550 — — 5028 HTPADU 0.590 — — — 64.84 3.39 59.7 3.924 2.181 2.990 2.840 0166 INARI 2.970 -0.010 10529 2.911 16.21 2.61 2,839.5 0.240 0.100 0.160 0.130 9393 ITRONIC 0.160 0.025 555.2 0.131 — — 16.4 0.872 0.555 0.710 0.695 5161 JCY 0.705 0.005 2888.9 0.703 7.16 9.57 1,463.7 5.950 2.785 4.400 4.340 9334 KESM 4.350 -0.020 32.4 4.362 6.86 0.69 187.1 0.250 0.060 0.195 0.190 0143 KEYASIC 0.195 UNCH 863.2 0.191 — — 162.7 10.700 5.564 7.120 7.080 3867 MPI 7.120 -0.030 317.7 7.118 9.37 2.95 1,494.4

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)

1.400 0.890 1.080 1.000 5011 MSNIAGA 1.080 0.100 33.7 1.009 — — 65.2 0.495 0.360 0.400 0.395 0083 NOTION 0.395 UNCH 237 0.395 — — 106.8 0.765 0.410 0.460 0.445 9008 OMESTI 0.460 0.010 116.5 0.451 — — 179.2 0.360 0.280 — — 0041 PANPAGE 0.295 — — — 16.39 — 71.2 0.915 0.560 0.665 0.650 7160 PENTA 0.665 0.020 930.4 0.661 7.42 — 96.1 0.480 0.235 0.465 0.455 9075 THETA 0.460 UNCH 38 0.457 20.44 — 49.3 0.105 0.035 0.040 0.035 0118 TRIVE 0.035 UNCH 95 0.036 — — 42.3 2.566 1.526 2.330 2.260 5005 UNISEM 2.270 -0.040 906.8 2.282 10.40 4.41 1,665.8 3.840 2.684 3.790 3.750 0097 VITROX 3.760 0.010 185.9 3.759 19.76 0.53 879.5 0.960 0.640 0.735 0.730 0008 WILLOW 0.735 0.005 264 0.734 9.89 2.72 182.3INFRASTRUCTURE PROJECT COMPANIES 5.998 4.640 4.680 4.650 6947 DIGI 4.680 0.020 2929.3 4.672 21.13 4.70 36,387.0 5.260 3.614 5.250 5.230 6645 LITRAK 5.250 0.030 662.3 5.250 17.89 4.76 2,744.2 1.950 1.010 1.320 1.270 6807 PUNCAK 1.290 -0.030 2127.8 1.284 — — 579.6 0.575 0.335 0.405 0.390 5078 SILKHLD 0.400 0.010 1161.1 0.400 — — 280.6 7.924 5.245 7.310 7.290 5031 TIMECOM 7.310 0.010 271.3 7.299 8.99 0.92 4,207.6 1.600 1.400 1.520 1.500 6742 YTLPOWR 1.520 0.010 812.5 1.516 11.99 6.58 12,314.4CLOSED-END FUNDS 2.380 2.100 2.350 2.340 5108 ICAP 2.340 -0.010 21.6 2.341 — — 327.6EXCHANGE TRADED FUNDS 1.088 1.035 — — 0800EA ABFMY1 1.083 — — — — 5.24 1,370.5 1.870 1.550 — — 0822EA CIMBA40 1.635 — — — — 3.83 2.2 1.565 1.015 1.150 1.135 0823EA CIMBC50 1.145 -0.005 42.4 1.141 — — 14.1 1.870 1.580 — — 0820EA FBMKLCI-EA 1.765 — — — — 1.42 3.0 1.010 0.900 0.942 0.942 0826EA METFAPA 0.942 -0.003 3 0.942 — — 17.9 1.015 0.850 — — 0825EA METFSID 0.885 — — — — 2.43 17.7 1.175 0.990 1.095 1.095 0821EA MYETFDJ 1.095 0.005 5 1.095 — 2.16 275.4 1.075 0.940 — — 0824EA MYETFID 1.030 — — — — 3.06 22.2REITS 1.104 0.875 1.030 1.020 4952 AHP 1.030 UNCH 21 1.026 8.37 6.80 103.0 1.570 1.243 — — 5116 ALAQAR 1.530 — — — 15.92 5.03 1,114.2 1.112 0.881 0.990 0.985 5269 ALSREIT 0.985 -0.005 5.5 0.986 38.63 1.22 571.3 0.899 0.705 0.735 0.730 5120 AMFIRST 0.730 -0.010 148 0.735 17.26 6.12 501.1 0.890 0.746 0.890 0.890 5127 ARREIT 0.890 UNCH 16 0.890 8.55 7.04 510.2 1.116 0.974 1.090 1.080 5130 ATRIUM 1.090 0.010 11.4 1.080 8.60 7.57 132.8 1.756 1.490 1.670 1.620 5106 AXREIT 1.620 -0.020 226.9 1.652 18.43 5.19 1,781.7 1.500 1.206 1.470 1.460 5180 CMMT 1.470 0.010 47.4 1.470 12.18 5.85 2,981.6 1.520 1.348 1.510 1.510 5121 HEKTAR 1.510 UNCH 36.2 1.510 126.89 6.95 605.0 1.570 1.199 1.510 1.480 5227 IGBREIT 1.490 UNCH 642.9 1.492 20.30 5.42 5,181.7 7.500 6.800 7.220 7.200 5235SS KLCC 7.220 0.030 833.7 7.207 11.52 4.80 13,034.5 1.160 0.954 1.150 1.140 5123 MQREIT 1.140 0.010 256.5 1.144 10.85 3.65 754.0 1.820 1.346 1.690 1.680 5212 PAVREIT 1.690 UNCH 960.1 1.690 18.06 4.87 5,103.5 1.650 1.401 1.600 1.590 5176 SUNREIT 1.600 -0.010 1668.9 1.600 8.52 5.54 4,708.3 1.220 1.045 1.200 1.190 5111 TWRREIT 1.200 0.010 59 1.199 13.04 5.78 336.6 1.640 1.397 1.610 1.610 5110 UOAREIT 1.610 UNCH 5 1.610 6.17 6.84 680.8 1.080 0.946 1.070 1.060 5109 YTLREIT 1.060 -0.010 1095.6 1.060 83.46 7.22 1,403.9SPAC 0.705 0.650 0.680 0.680 5234 CLIQ 0.680 UNCH 50 0.680 — — 429.0 0.695 0.595 0.680 0.680 5256 REACH 0.680 UNCH 390.1 0.680 — — 868.9 0.475 0.415 0.440 0.430 5241 SONA 0.435 -0.005 9633.4 0.435 — — 613.7

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 0.480 0.225 0.375 0.370 0179 BIOHLDG 0.370 Unch 920.5 0.371 23.72 — 185.0 0.320 0.095 0.220 0.200 0170 KANGER 0.220 0.020 6399.6 0.213 13.17 — 148.2 0.429 0.240 0.275 0.270 0148 SUNZEN 0.270 -0.005 310.8 0.275 — 1.70 129.3 0.075 0.050 0.055 0.055 0095 XINGHE 0.055 Unch 2522.4 0.055 1.62 1.82 129.2INDUSTRIAL PRODUCTS 0.345 0.175 0.270 0.255 0105 ASIAPLY 0.270 0.005 4710.6 0.262 11.30 2.22 71.2 0.150 0.060 0.060 0.060 0072 AT 0.060 Unch 204 0.060 — — 26.0 0.610 0.405 0.415 0.410 0163 CAREPLS 0.410 0.005 97.5 0.413 24.70 0.41 157.6 0.320 0.110 0.160 0.145 0102 CONNECT 0.160 0.020 8529.9 0.153 12.80 — 34.7 0.605 0.260 0.550 0.530 0100 ESCERAM 0.550 0.010 1334 0.544 16.52 — 113.0 0.065 0.040 0.045 0.040 0109 FLONIC 0.040 Unch 102 0.045 — — 32.0 0.880 0.355 0.450 0.430 0175 HHGROUP 0.430 -0.015 1905.3 0.434 15.09 0.77 132.7 0.140 0.070 0.115 0.110 0160 HHHCORP 0.115 Unch 4812.6 0.115 — — 38.3 0.390 0.110 0.155 0.155 0162 IJACOBS 0.155 -0.005 82.2 0.155 — — 21.0 0.165 0.085 0.105 0.095 0024 JAG 0.100 Unch 14411 0.101 — 5.00 114.4 0.240 0.120 0.145 0.145 0025 LNGRES 0.145 0.005 0.1 0.145 — — 35.1 0.170 0.065 0.090 0.085 0070 MQTECH 0.085 Unch 2180 0.085 — — 23.7 0.500 0.293 0.385 0.380 0049 OCNCASH 0.385 0.005 142 0.385 9.63 1.82 85.9 0.180 0.105 0.170 0.155 0038 PTB 0.165 0.015 2868.5 0.164 16.02 — 24.8 0.105 0.045 0.050 0.045 0133 SANICHI 0.050 Unch 770.1 0.050 17.86 — 57.2 0.160 0.085 0.120 0.120 0001 SCOMNET 0.120 -0.005 160 0.120 9.84 — 29.2 0.220 0.120 — — 0028 SCOPE 0.150 — — — — — 83.3 0.415 0.120 0.125 0.120 0055 SERSOL 0.120 -0.010 2635.6 0.121 — — 25.8 0.270 0.165 — — 0084 TECFAST 0.200 — — — 13.33 — 34.2TECHNOLOGY 0.250 0.100 0.215 0.200 0018 ACCSOFT 0.200 Unch 111 0.207 — — 128.1 0.615 0.310 0.325 0.310 0181 AEMULUS 0.320 0.010 1297.9 0.317 12.50 — 140.4 0.270 0.105 0.105 0.105 0119 APPASIA 0.105 Unch 44.2 0.105 — — 29.5 1.600 0.300 0.305 0.300 0068 ASDION 0.305 -0.005 79.5 0.303 — — 35.5 0.015 0.005 — — 0039 ASIAEP 0.010 — — — — — 8.1 1.310 0.805 0.870 0.855 0098 BAHVEST 0.870 0.020 196.7 0.862 241.67 — 375.9 0.095 0.005 — — 0022 CYBERT 0.005 — — — — — 0.5 0.135 0.050 0.055 0.050 0152 DGB 0.055 0.005 130 0.053 — — 26.9 0.120 0.050 0.055 0.055 0131 DGSB 0.055 Unch 4051.1 0.055 78.57 — 74.6 0.150 0.060 0.110 0.105 0154 EAH 0.105 Unch 778 0.106 — — 156.5 0.420 0.190 0.280 0.280 0107 EDUSPEC 0.280 Unch 230.1 0.280 24.78 — 237.1 0.095 0.045 0.070 0.065 0116 FOCUS 0.070 Unch 64.4 0.070 — — 50.1 0.315 0.125 0.135 0.130 0104 GENETEC 0.130 -0.010 1129.7 0.134 6.07 — 45.7 0.065 0.035 0.035 0.035 0045 GNB 0.035 -0.005 181.4 0.035 12.96 — 10.1 0.160 0.080 — — 0074 GOCEAN 0.085 — — — — — 22.4 0.155 0.065 0.070 0.065 0174 IDMENSN 0.070 Unch 235.1 0.068 — — 34.6 1.854 0.460 0.720 0.710 0023 IFCAMSC 0.715 0.005 5788.5 0.714 18.01 1.40 434.9 0.150 0.045 0.045 0.045 0094 INIX 0.045 Unch 20 0.045 — — 18.8 0.325 0.150 0.170 0.155 0010 IRIS 0.165 0.005 26039.5 0.164 — — 352.5 0.854 0.523 — — 0146 JFTECH 0.615 — — — 28.21 1.63 77.5 0.565 0.150 0.505 0.490 0127 JHM 0.505 0.010 509.4 0.500 9.62 — 62.1 0.670 0.180 0.260 0.250 0111 K1 0.255 Unch 2600.5 0.255 10.20 1.96 120.5 0.080 0.040 0.065 0.065 0036 KGROUP 0.065 Unch 50 0.065 — — 41.5 0.415 0.100 0.230 0.225 0176 KRONO 0.230 Unch 947.6 0.227 17.83 — 54.5 0.190 0.105 0.185 0.175 0017 M3TECH 0.180 0.010 2158.9 0.180 — — 35.5 0.120 0.050 — — 0075 MEXTER 0.075 — — — — — 14.8 0.970 0.460 — — 0155 MGRC 0.610 — — — 18.10 — 57.4 1.950 0.560 1.140 1.100 0126 MICROLN 1.120 -0.020 172.7 1.111 15.91 — 170.4 0.588 0.281 0.530 0.525 0112 MIKROMB 0.525 Unch 535.4 0.525 16.51 2.10 160.6 0.115 0.060 — — 0085 MLAB 0.075 — — — — — 14.0 0.090 0.055 0.060 0.060 0034 MMAG 0.060 -0.005 1189.3 0.060 — — 57.2 0.859 0.451 0.495 0.490 0113 MMSV 0.495 0.005 80.7 0.493 9.98 4.04 80.7 0.320 0.175 0.240 0.240 0103 MNC 0.240 -0.020 13 0.240 — — 22.7 0.365 0.180 0.240 0.235 0156 MPAY 0.240 Unch 707 0.239 — — 170.5 0.210 0.075 0.135 0.135 0092 MTOUCHE 0.135 0.005 1548.8 0.135 — — 31.3 1.058 0.599 0.835 0.825 0108 N2N 0.830 0.005 356.7 0.830 39.15 2.41 395.3 0.075 0.025 0.040 0.040 0020 NETX 0.040 -0.005 30 0.040 — — 25.0 0.135 0.050 0.060 0.055 0096 NEXGRAM 0.060 0.005 1386.8 0.057 3.90 — 113.0 0.250 0.085 — — 0026 NOVAMSC 0.095 — — — 135.71 — 56.6 1.102 0.536 0.630 0.620 0035 OPCOM 0.625 0.005 42.3 0.626 11.47 3.20 100.8 0.333 0.270 0.290 0.290 0040 OPENSYS 0.290 Unch 512.6 0.290 11.11 3.03 86.4 0.730 0.165 0.510 0.470 0079 ORION 0.485 -0.015 3790.9 0.492 — — 58.7 0.100 0.030 0.095 0.085 0005 PALETTE 0.090 0.005 7082.2 0.090 12.16 — 28.8 0.430 0.150 0.190 0.190 0123 PRIVA 0.190 Unch 90 0.190 35.85 1.32 106.1 0.180 0.070 0.075 0.075 0007 PUC 0.075 Unch 1751 0.075 14.15 — 80.9 0.728 0.313 0.495 0.485 0106 REXIT 0.495 0.005 121 0.490 12.63 4.04 93.7 0.165 0.030 0.040 0.040 0135 SCN 0.040 0.005 200 0.040 — — 8.0 0.644 0.307 0.395 0.385 0178 SEDANIA 0.390 0.005 451.6 0.389 31.71 — 78.0 0.160 0.065 0.070 0.065 0060 SKH 0.065 -0.005 855 0.070 — — 36.0 0.520 0.170 0.200 0.200 0117 SMRT 0.200 -0.005 70.1 0.200 — — 57.1 0.175 0.070 0.075 0.070 0169 SMTRACK 0.075 0.005 3896.7 0.075 — — 24.0 0.450 0.267 0.400 0.380 0093 SOLUTN 0.395 0.020 4145.3 0.393 14.36 2.53 79.0 0.200 0.080 — — 0129 SRIDGE 0.120 — — — — — 14.5 0.387 0.151 0.170 0.165 0050 SYSTECH 0.170 Unch 209.7 0.170 41.46 3.53 53.9 0.160 0.100 0.115 0.115 0132 TDEX 0.115 Unch 215 0.115 — — 43.2 0.410 0.140 0.185 0.185 0120 VIS 0.185 Unch 50 0.185 — — 20.5 0.340 0.075 0.320 0.310 0069 VIVOCOM 0.315 0.005 33965 0.314 75.00 — 815.0 0.460 0.065 0.085 0.085 0066 VSOLAR 0.085 Unch 869 0.085 — — 25.8 0.390 0.025 0.035 0.030 0141 WINTONI 0.030 Unch 147 0.032 — — 15.4 0.355 0.110 0.120 0.120 0086 YGL 0.120 Unch 5 0.120 — — 23.2 0.560 0.451 0.530 0.525 0009 YTLE 0.525 -0.005 61.2 0.530 20.35 7.62 708.8TRADING SERVICES 0.270 0.150 0.230 0.230 0122 AIM 0.230 0.020 2 0.230 92.00 — 61.2 0.180 0.095 — — 0048 ANCOMLB 0.095 — — — — — 45.0 0.105 0.040 0.050 0.045 0150 ASIABIO 0.045 Unch 1359 0.045 — — 39.0 0.320 0.196 — — 0011 BTECH 0.235 — — — 12.63 2.68 59.2 0.320 0.190 — — 0157 FOCUSP 0.190 — — — 23.75 5.26 31.4 0.600 0.350 0.500 0.475 0081 IDEAL 0.475 -0.005 1483 0.486 19.23 — 89.2 0.760 0.300 — — 0147 INNITY 0.655 — — — 30.90 — 90.7 0.475 0.260 0.360 0.355 0180 KTC 0.355 -0.005 1204.6 0.358 21.52 — 181.5 0.250 0.155 — — 0167 MCLEAN 0.185 — — — 7.37 — 33.1 0.240 0.140 0.175 0.175 0153 OVERSEA 0.175 Unch 26 0.175 — 1.71 42.9 0.245 0.120 0.185 0.185 0177 PASUKGB 0.185 Unch 78.5 0.185 71.15 — 60.0 0.400 0.280 — — 0006 PINEAPP 0.300 — — — — — 14.6 0.303 0.168 0.255 0.250 0171 PLABS 0.250 -0.005 347.7 0.250 13.44 2.80 51.7 0.040 0.005 — — 0110 RA 0.005 — — — — — 4.8 0.290 0.130 — — 0080 RAYA 0.235 — — — — — 33.7 0.815 0.500 0.545 0.545 0032 REDTONE 0.545 Unch 2 0.545 — 0.37 412.7 0.970 0.480 0.510 0.510 0173 REV 0.510 -0.010 25 0.510 31.29 — 68.7 2.670 1.700 2.240 2.000 0158 SCC 2.240 0.260 63.8 2.150 15.02 2.23 95.8 0.303 0.195 0.215 0.210 0161 SCH 0.210 -0.005 130 0.212 26.92 7.14 86.6 0.480 0.325 — — 0137 STEMLFE 0.470 — — — — 6.38 116.3 0.055 0.030 0.035 0.035 0140 STERPRO 0.035 Unch 1153.5 0.035 — — 34.6 1.490 0.450 1.010 1.010 0089 TEXCYCL 1.010 Unch 16 1.010 22.60 0.50 172.5 0.235 0.100 — — 0145 TFP 0.130 — — — 50.00 — 26.7 0.705 0.110 0.135 0.130 0165 XOX 0.130 Unch 6794.8 0.131 11.30 — 72.3FINANCE 0.570 0.390 0.470 0.445 0053 OSKVI 0.470 0.020 3.5 0.466 — 4.26 92.9

MarketsB 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

FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY 2 8

Bursa Malaysia Equity Derivatives

0.240 0.035 0.240 0.220 5238WA AAX-WA 0.225 Unch 94751.3 0.380 0.460 80.26 08/06/2020 0.130 0.050 0.115 0.100 0018WA ACCSOFT-WA 0.110 Unch 525 0.200 0.100 5.00 18/01/2019 0.095 0.005 0.015 0.010 6599CE AEON-CE 0.010 -0.005 721.3 2.820 3.150 12.77 30/06/2016 0.285 0.220 0.235 0.235 6599CF AEON-CF 0.235 0.010 10 2.820 2.650 6.47 31/01/2017 0.150 0.080 0.135 0.125 5185CT AFFIN-CT 0.135 0.005 490.5 2.360 2.400 7.42 30/09/2016 0.130 0.060 0.110 0.105 7315WB AHB-WB 0.110 Unch 323 0.210 0.200 47.62 28/08/2019 0.250 0.015 0.240 0.230 509922 AIRASIAC22 0.230 -0.010 280 2.140 1.650 -1.40 29/04/2016 0.840 0.320 0.830 0.820 509926 AIRASIAC26 0.820 -0.005 42 2.140 0.900 -0.47 18/07/2016 0.310 0.085 0.300 0.295 509927 AIRASIAC27 0.300 -0.005 188.5 2.140 1.280 1.87 28/10/2016 0.110 0.040 0.100 0.095 509929 AIRASIAC29 0.095 -0.005 1155 2.140 2.000 4.56 31/05/2016 0.370 0.185 0.365 0.365 509930 AIRASIAC30 0.365 Unch 1 2.140 2.000 27.57 31/01/2017 0.215 0.060 0.210 0.205 509931 AIRASIAC31 0.205 Unch 933.5 2.140 1.500 1.71 15/08/2016 0.330 0.125 0.315 0.305 509932 AIRASIAC32 0.310 -0.005 713 2.140 1.500 6.31 30/09/2016 0.185 0.145 0.170 0.165 509933 AIRASIAC33 0.170 -0.010 353 2.140 2.100 17.99 28/10/2016 0.105 0.005 0.055 0.055 9342WA ANZO-WA 0.055 Unch 22.8 0.245 0.250 24.49 19/11/2019 0.095 0.015 0.035 0.025 5194WA APFT-WA 0.025 Unch 4915.6 0.060 0.400 608.33 13/07/2018 0.180 0.055 0.065 0.065 0119WA APPASIA-WA 0.065 0.005 60 0.105 0.130 85.71 23/12/2024 0.045 0.030 0.040 0.035 521010 ARMADA-C10 0.035 0.005 110 0.795 1.080 44.65 28/11/2016 0.100 0.010 0.035 0.020 521011 ARMADA-C11 0.030 0.010 26820.7 0.795 1.000 33.33 07/10/2016 0.070 0.015 0.020 0.015 521012 ARMADA-C12 0.020 0.005 868.7 0.795 1.150 49.69 29/07/2016 0.125 0.045 0.050 0.050 521013 ARMADA-C13 0.050 0.005 22.2 0.795 1.000 38.36 30/09/2016 0.050 0.030 0.050 0.040 521014 ARMADA-C14 0.045 0.005 5197.8 0.795 0.950 30.82 30/09/2016 0.130 0.010 0.035 0.030 5210C6 ARMADA-C6 0.030 Unch 19889.3 0.795 1.000 33.33 30/08/2016 0.155 0.030 0.055 0.045 5210C8 ARMADA-C8 0.050 0.005 5108 0.795 0.880 26.42 28/11/2016 0.135 0.025 0.035 0.030 5210C9 ARMADA-C9 0.030 -0.005 2391.5 0.795 0.980 32.70 28/11/2016 0.050 0.015 0.020 0.020 0150WA ASIABIO-WA 0.020 -0.005 160 0.045 0.100 166.67 19/04/2024 0.160 0.095 0.155 0.150 0105WA ASIAPLY-WA 0.155 Unch 7011.7 0.270 0.100 -5.56 13/12/2020 0.125 0.105 0.125 0.120 6399CV ASTRO-CV 0.120 0.015 162 2.920 3.000 10.96 31/01/2017 0.050 0.005 0.005 0.005 7070WA ASUPREM-WA 0.005 Unch 200 0.115 0.200 78.26 08/08/2016 0.860 0.130 0.660 0.660 7099WC ATTA-WC 0.660 Unch 0.1 0.540 1.000 207.41 18/11/2024 0.080 0.025 0.030 0.025 0072WA AT-WA 0.030 Unch 100.2 0.060 0.120 150.00 29/01/2019 0.170 0.010 0.015 0.015 6888C4 AXIATA-C4 0.015 Unch 160 5.880 6.400 9.61 29/07/2016 0.380 0.150 0.320 0.305 7078WA AZRB-WA 0.320 0.015 113 0.715 0.700 42.66 13/05/2024 0.150 0.015 0.020 0.020 4162CE BAT-CE 0.020 0.005 120 53.980 57.000 7.45 29/07/2016 0.210 0.080 0.150 0.150 7241WA BHS-WA 0.150 Unch 374 0.485 0.600 54.64 18/10/2020 0.485 0.225 0.355 0.345 5258WA BIMB-WA 0.350 Unch 602.5 3.900 4.720 30.00 04/12/2023 0.310 0.090 0.140 0.135 6998WA BINTAI-WA 0.140 Unch 171.3 0.275 0.200 23.64 15/06/2020 0.165 0.070 0.075 0.070 5248CJ BJAUTO-CJ 0.075 0.005 258.2 2.250 2.400 16.67 18/07/2016 0.135 0.060 0.105 0.090 5248CK BJAUTO-CK 0.105 0.015 451.9 2.250 2.000 0.56 31/05/2016 0.100 0.075 0.085 0.085 5248CM BJAUTO-CM 0.085 0.005 145 2.250 2.100 8.44 28/11/2016 0.060 0.035 0.035 0.035 3395C1 BJCORP-C1 0.035 Unch 500 0.390 0.430 21.92 30/08/2016 0.105 0.050 0.070 0.070 3395CZ BJCORP-CZ 0.070 Unch 60 0.390 0.370 12.82 31/10/2016 2.190 1.150 1.150 1.150 5196WA BJFOOD-WA 1.150 -0.040 2.8 1.900 0.700 -2.63 08/08/2017 0.100 0.005 0.010 0.010 6025WA BJMEDIA-WA 0.010 -0.020 100 0.400 0.870 120.00 16/12/2016 0.173 0.060 0.075 0.075 7036WB BORNOIL-WB 0.075 -0.005 1.8 0.150 0.100 16.67 28/02/2018 0.105 0.065 0.090 0.085 7036WC BORNOIL-WC 0.085 -0.005 3846.8 0.150 0.100 23.33 08/11/2025 0.330 0.060 0.100 0.100 7188WB BTM-WB 0.100 -0.005 100 0.215 0.200 39.53 23/10/2024 1.330 0.410 1.020 1.020 7174WA CAB-WA 1.020 Unch 20 1.630 0.550 -3.68 08/02/2020 0.038 0.005 0.005 0.005 5229WA CAP-WA 0.005 Unch 150 0.065 1.354 1,990 29/12/2016 0.285 0.075 0.090 0.085 0163WA CAREPLS-WA 0.085 -0.005 155 0.410 0.320 -1.22 09/08/2016 0.205 0.170 0.195 0.195 7076CC CBIP-CC 0.195 0.025 11.5 2.290 2.150 10.92 11/11/2016 0.505 0.255 0.500 0.485 7076WA CBIP-WA 0.485 0.015 257.4 2.290 2.400 25.98 06/11/2019 0.245 0.085 0.110 0.100 5195WB CENSOF-WB 0.110 Unch 218.8 0.275 0.460 107.27 07/10/2019 0.140 0.070 0.120 0.115 102310 CIMB-C10 0.115 -0.005 155 4.920 4.800 9.25 10/08/2016 0.185 0.010 0.015 0.010 1023C9 CIMB-C9 0.015 Unch 490 4.920 5.100 4.88 29/04/2016 0.190 0.005 0.015 0.010 2852CM CMSB-CM 0.015 0.010 18798.2 4.090 5.200 29.71 08/06/2016 0.120 0.010 0.015 0.010 2852CN CMSB-CN 0.010 Unch 4020.5 4.090 5.000 24.21 08/06/2016 0.200 0.050 0.105 0.095 0102WA CONNECT-WA 0.105 0.010 728.8 0.160 0.100 28.13 17/09/2021 0.045 0.010 0.015 0.015 5214WA CSL-WA 0.015 Unch 10 0.105 1.150 1,009 18/09/2017 0.155 0.045 0.085 0.085 5141CW DAYANG-CW 0.085 0.005 20 1.370 1.500 25.00 07/10/2016 0.265 0.125 0.210 0.190 7212WA DESTINI-WA 0.195 -0.010 1283.7 0.610 0.400 -2.46 03/10/2016 0.465 0.255 0.390 0.375 7277WA DIALOG-WA 0.385 0.005 222.9 1.600 1.190 -1.56 10/02/2017 0.065 0.035 0.045 0.040 694711 DIGI-C11 0.045 0.005 25 4.680 5.400 19.23 28/10/2016 0.125 0.020 0.020 0.020 6947C7 DIGI-C7 0.020 Unch 20 4.680 5.000 10.26 18/07/2016 0.110 0.035 0.040 0.040 0029WA DIGISTA-WA 0.040 -0.005 265 0.165 0.130 3.03 07/02/2017 0.095 0.045 0.045 0.045 0029WB DIGISTA-WB 0.045 -0.005 50 0.165 0.260 84.85 04/04/2023 0.110 0.065 0.105 0.100 7114WA DNONCE-WA 0.105 Unch 2038.2 0.215 0.250 65.12 25/11/2020 0.255 0.175 0.200 0.190 5265WA DOLPHIN-WA 0.195 -0.005 4093.4 0.695 0.800 43.17 29/03/2021 0.420 0.215 0.260 0.250 7169WA DOMINAN-WA 0.250 -0.010 10 1.140 1.300 35.96 10/09/2020 0.065 0.015 0.035 0.035 7198WA DPS-WA 0.035 Unch 20.5 0.110 0.540 422.73 03/01/2018 0.105 0.030 0.060 0.055 7198WB DPS-WB 0.055 -0.005 1131 0.110 0.100 40.91 15/01/2025 0.110 0.005 0.015 0.015 161916 DRBHCOMC16 0.015 Unch 250 1.020 1.400 40.20 30/08/2016 0.050 0.010 0.015 0.010 161918 DRBHCOMC18 0.015 0.005 1545.1 1.020 1.300 31.13 29/07/2016 0.215 0.070 0.135 0.120 161919 DRBHCOMC19 0.130 -0.005 1964.7 1.020 1.000 10.78 30/11/2016 0.115 0.055 0.060 0.060 161920 DRBHCOMC20 0.060 -0.005 725.1 1.020 1.100 22.55 30/11/2016 0.210 0.115 0.120 0.115 161921 DRBHCOMC21 0.115 -0.005 349.9 1.020 0.950 10.05 15/12/2016 0.250 0.055 0.075 0.070 5216CD DSONIC-CD 0.070 -0.010 1160 1.350 1.180 0.37 28/04/2016 0.110 0.050 0.065 0.065 5216CL DSONIC-CL 0.065 Unch 250 1.350 1.420 24.44 29/07/2016 0.145 0.105 0.105 0.105 5216CN DSONIC-CN 0.105 Unch 52.7 1.350 1.450 26.85 23/11/2016 0.155 0.085 0.095 0.090 3417C4 E&O-C4 0.095 Unch 770 1.590 1.500 12.26 23/11/2016 0.095 0.005 0.015 0.010 3417CZ E&O-CZ 0.010 Unch 387.5 1.590 1.814 15.92 08/06/2016 0.425 0.110 0.195 0.195 3417WB E&O-WB 0.195 -0.005 59.8 1.590 2.600 75.79 21/07/2019 0.090 0.020 0.055 0.050 0154WB EAH-WB 0.055 Unch 68.7 0.105 0.120 66.67 24/02/2019 0.090 0.025 0.055 0.055 0154WC EAH-WC 0.055 -0.005 150 0.105 0.100 47.62 18/06/2019 0.200 0.080 0.140 0.125 3557WC ECOFIRS-WC 0.140 -0.010 2.4 0.240 0.300 83.33 10/09/2019 0.120 0.010 0.010 0.010 8206CB ECOWLD-CB 0.010 -0.005 57.5 1.310 1.680 30.15 30/06/2016 0.700 0.340 0.420 0.405 8206WA ECOWLD-WA 0.420 Unch 43.5 1.310 2.080 90.84 26/03/2022 0.180 0.095 0.180 0.175 1368CG EDGENTA-CG 0.180 0.020 320 3.810 3.230 3.67 31/10/2016 0.540 0.170 0.475 0.440 0065WA EFORCE-WA 0.470 0.030 1160.3 0.960 0.680 19.79 17/07/2019 0.815 0.390 0.545 0.520 8907WC EG-WC 0.540 0.025 1213.5 0.865 0.500 20.23 03/11/2020 0.065 0.020 0.035 0.030 7182WA EKA-WA 0.035 0.005 1488 0.120 0.200 95.83 22/01/2019 0.550 0.180 0.550 0.480 8877WB EKOVEST-WB 0.550 0.070 3360.9 1.460 1.350 30.14 25/06/2019 0.330 0.090 0.115 0.100 7149WA ENGKAH-WA 0.115 0.015 51 2.140 3.500 68.93 25/09/2017 0.625 0.300 0.380 0.380 5056WA ENGTEX-WA 0.380 Unch 225 1.130 0.830 7.08 25/10/2017 0.860 0.200 0.310 0.305 7249WA EWEIN-WA 0.305 -0.005 287.9 0.920 0.610 -0.54 09/06/2017 0.230 0.060 0.215 0.210 7047WB FAJAR-WB 0.210 -0.005 542.6 0.610 0.700 49.18 24/09/2019 0.285 0.085 0.200 0.200 9776WB FARMBES-WB 0.200 0.020 0.1 0.675 1.000 77.78 13/07/2018 0.265 0.065 0.075 0.070 65018 FBMKLCI-C18 0.075 0.010 101 1,721 1,680 0.64 29/04/2016 0.190 0.050 0.130 0.115 65022 FBMKLCI-C22 0.130 0.020 321.3 1,721 1,630 -0.03 29/04/2016 0.205 0.020 0.025 0.025 65024 FBMKLCI-C24 0.025 0.005 170 1,721 1,720 0.93 31/05/2016 0.660 0.235 0.250 0.250 65026 FBMKLCI-C26 0.250 0.015 15 1,721 1,750 5.29 31/05/2016 0.790 0.280 0.320 0.305 65028 FBMKLCI-C28 0.320 0.040 40 1,721 1,670 1.66 31/05/2016 0.120 0.030 0.035 0.035 0650C3 FBMKLCI-C3 0.035 -0.005 334.2 1,721 1,708 2.12 30/06/2016 0.125 0.050 0.100 0.095 65034 FBMKLCI-C34 0.095 0.010 539.7 1,721 1,660 0.30 30/06/2016 0.225 0.065 0.070 0.070 65036 FBMKLCI-C36 0.070 0.005 50 1,721 1,770 4.85 30/06/2016 0.195 0.045 0.075 0.070 0650C4 FBMKLCI-C4 0.070 Unch 1026 1,721 1,700 1.47 29/07/2016 0.045 0.015 0.020 0.020 65040 FBMKLCI-C40 0.020 0.005 403.5 1,721 1,800 5.38 29/07/2016 0.370 0.180 0.180 0.180 65044 FBMKLCI-C44 0.180 -0.005 10 1,721 1,720 3.05 29/07/2016 0.405 0.350 0.355 0.355 65046 FBMKLCI-C46 0.355 -0.020 10 1,721 1,640 1.45 29/07/2016 0.190 0.145 0.180 0.170 65048 FBMKLCI-C48 0.180 0.015 316.1 1,721 1,600 0.27 30/08/2016 0.245 0.190 0.240 0.240 65052 FBMKLCI-C52 0.240 0.010 515 1,721 1,570 0.97 30/08/2016 0.200 0.175 0.195 0.185 65054 FBMKLCI-C54 0.195 0.020 358 1,721 1,595 0.59 30/09/2016 0.710 0.180 0.195 0.180 65029 FBMKLCI-H29 0.180 -0.070 44 1,721 1,630 -2.70 31/05/2016 0.900 0.325 0.345 0.325 65031 FBMKLCI-H31 0.325 -0.035 1537 1,721 1,710 4.06 31/05/2016 0.265 0.040 0.050 0.040 65037 FBMKLCI-H37 0.040 -0.010 2255.4 1,721 1,680 -0.78 30/06/2016 0.280 0.095 0.095 0.095 65039 FBMKLCI-H39 0.095 Unch 87 1,721 1,570 -6.04 30/06/2016 0.365 0.150 0.150 0.150 65041 FBMKLCI-H41 0.150 -0.025 22 1,721 1,650 0.21 30/06/2016 0.190 0.025 0.025 0.025 65043 FBMKLCI-H43 0.025 -0.005 95.3 1,721 1,600 -6.04 29/07/2016 0.130 0.025 0.030 0.025 65053 FBMKLCI-H53 0.025 -0.010 330 1,721 1,570 -7.78 30/08/2016 0.155 0.075 0.085 0.075 65059 FBMKLCI-H59 0.075 -0.010 806.9 1,721 1,650 -1.10 30/09/2016 0.195 0.175 0.185 0.175 65061 FBMKLCI-H61 0.175 -0.020 83 1,721 1,710 6.46 31/10/2016 0.640 0.030 0.030 0.030 0650HV FBMKLCI-HV 0.030 -0.005 450 1,721 1,658 -2.24 30/06/2016 0.625 0.075 0.095 0.085 0650HW FBMKLCI-HW 0.090 -0.005 2109.7 1,721 1,700 2.24 29/07/2016 0.675 0.060 0.475 0.470 8605WB FFHB-WB 0.475 0.005 105.7 1.000 0.500 -2.50 30/03/2017 0.080 0.050 0.065 0.060 522210 FGV-C10 0.060 Unch 195 1.500 1.550 18.53 30/09/2016 0.210 0.025 0.050 0.050 5222C6 FGV-C6 0.050 0.005 968.2 1.500 1.500 10.00 29/07/2016 0.340 0.065 0.070 0.070 5222C8 FGV-C8 0.070 0.005 100 1.500 1.500 9.33 18/07/2016 0.150 0.010 0.020 0.015 5222C9 FGV-C9 0.020 0.010 601 1.500 1.900 31.20 31/05/2016 0.240 0.095 0.130 0.130 9318WB FITTERS-WB 0.130 Unch 250 0.470 1.000 140.43 12/10/2019 0.035 0.010 0.015 0.015 0109WB FLONIC-WB 0.015 Unch 50 0.040 0.050 62.50 06/11/2019 0.200 0.065 0.070 0.070 539824 GAMUDA-C24 0.070 -0.010 100 4.950 4.750 7.27 28/07/2016 0.255 0.145 0.220 0.205 539826 GAMUDA-C26 0.220 0.005 55.4 4.950 4.500 4.24 30/11/2016 1.160 0.805 1.090 1.080 5398WE GAMUDA-WE 1.090 Unch 7064.7 4.950 4.050 3.84 06/03/2021 0.500 0.085 0.130 0.115 5226WA GBGAQRS-WA 0.115 -0.010 822.1 0.835 1.300 69.46 20/07/2018 0.640 0.340 0.500 0.500 3611WA GBH-WA 0.500 0.095 1 1.430 1.000 4.90 07/04/2020 0.195 0.010 0.090 0.080 0078CB GDEX-CB 0.080 -0.005 78 1.600 1.500 3.75 08/06/2016 0.155 0.065 0.125 0.115 471512 GENM-C12 0.125 0.010 90 4.560 4.250 1.43 31/05/2016

YEAR YEAR DAY DAY CODE WARRANTS CLOSE +/- VOL PARENT EXE PR’M EXPIRY HIGH LOW HIGH LOW (RM) (RM) (‘000) PRICE PRICE (%) DATE


3.200 1.500 2.800 2.770 2291WA GENP-WA 2.800 0.050 43 10.640 7.750 -0.85 17/06/2019 0.250 0.045 0.195 0.165 318224 GENTINGC24 0.195 0.040 441.5 9.600 8.000 -0.42 08/06/2016 0.580 0.185 0.525 0.470 318225 GENTINGC25 0.520 0.070 2368 9.600 7.000 0.00 18/07/2016 0.505 0.065 0.435 0.390 318227 GENTINGC27 0.435 0.070 225.1 9.600 7.400 -0.26 31/05/2016 0.220 0.090 0.180 0.165 318228 GENTINGC28 0.180 0.025 961.7 9.600 7.800 3.75 23/11/2016 0.220 0.165 0.185 0.170 318229 GENTINGC29 0.185 0.020 174 9.600 9.300 13.26 30/11/2016 2.380 0.530 1.960 1.820 3182WA GENTING-WA 1.960 0.140 5177.9 9.600 7.960 3.33 18/12/2018 0.165 0.065 0.130 0.130 70010 GLD-C10 0.130 -0.005 105 459.81 444.82 6.92 29/09/2016 0.265 0.125 0.185 0.180 1147WA GOB-WA 0.180 Unch 607.9 0.505 0.800 94.06 24/12/2019 0.055 0.025 0.030 0.030 7096WA GPA-WA 0.030 -0.005 209.5 0.080 0.100 62.50 03/06/2025 0.180 0.060 0.135 0.135 7676WB GUNUNG-WB 0.135 -0.005 30 0.435 0.400 22.99 02/10/2020 6.200 2.520 5.900 5.890 3034WA HAPSENG-WA 5.900 -0.030 21.6 7.650 1.650 -1.31 09/08/2016 0.460 0.305 0.350 0.340 2062WC HARBOUR-WC 0.340 Unch 145.9 1.210 1.560 57.02 03/04/2021 0.120 0.035 0.035 0.035 5168CS HARTA-CS 0.035 -0.005 280 4.590 6.000 36.82 31/01/2017 1.510 0.625 0.965 0.920 5095WB HEVEA-WB 0.950 0.025 782.6 1.220 0.250 -1.64 28/02/2020 0.180 0.025 0.115 0.100 5072WA HIAPTEK-WA 0.110 Unch 3390.7 0.425 0.690 88.24 09/01/2017 0.945 0.370 0.495 0.480 5169WA HOHUP-WA 0.495 0.010 254.4 0.940 0.600 16.49 21/12/2018 0.370 0.220 0.260 0.250 7213WB HOVID-WB 0.260 0.010 109.2 0.435 0.180 1.15 05/06/2018 1.060 0.005 0.005 0.005 65115 HSI-C15 0.005 Unch 10 10,775 23,800 120.91 28/04/2016 1.380 0.010 0.030 0.025 65116 HSI-C16 0.030 0.010 158 10,775 22,400 108.13 28/04/2016 1.730 0.125 0.420 0.305 65117 HSI-C17 0.400 0.110 6442.3 10,775 21,000 98.23 28/04/2016 0.550 0.050 0.130 0.110 65118 HSI-C18 0.130 0.045 53.5 10,775 24,200 125.67 29/06/2016 0.840 0.130 0.245 0.200 65119 HSI-C19 0.230 0.035 19787.2 10,775 22,800 113.51 29/06/2016 1.210 0.280 0.605 0.530 65120 HSI-C20 0.600 0.085 624 10,775 21,400 103.61 29/06/2016 0.630 0.305 0.630 0.565 65121 HSI-C21 0.625 0.070 87.2 10,775 22,000 109.39 28/07/2016 1.000 0.490 0.990 0.955 65122 HSI-C22 0.980 0.115 31 10,775 20,600 99.36 28/07/2016 1.490 0.780 1.490 1.460 65123 HSI-C23 1.490 0.130 28 10,775 19,200 90.63 28/07/2016 1.180 0.650 1.180 1.180 65124 HSI-C24 1.180 0.050 5 10,775 20,200 97.33 30/08/2016 0.550 0.295 0.550 0.545 65130 HSI-C30 0.550 0.065 60 10,775 22,400 112.47 29/09/2016 0.880 0.550 0.880 0.830 65132 HSI-C32 0.880 0.100 25 10,775 21,000 102.24 29/09/2016 1.310 0.335 0.375 0.335 65125 HSI-H25 0.340 -0.065 742 10,775 19,000 79.17 28/07/2016 1.650 0.610 0.635 0.610 65127 HSI-H27 0.610 -0.085 25.6 10,775 20,400 94.42 28/07/2016 0.735 0.205 0.240 0.205 65129 HSI-H29 0.235 -0.005 176.6 10,775 17,000 59.72 30/08/2016 1.070 0.400 0.400 0.400 65131 HSI-H31 0.400 -0.040 10 10,775 18,400 74.10 30/08/2016 1.500 0.615 0.625 0.615 65133 HSI-H33 0.615 -0.065 45 10,775 19,800 88.89 30/08/2016 0.560 0.330 0.340 0.330 65135 HSI-H35 0.330 -0.045 20 10,775 17,800 67.95 29/09/2016 0.845 0.510 0.515 0.510 65137 HSI-H37 0.510 -0.050 46 10,775 19,200 82.44 29/09/2016 1.250 0.780 0.800 0.780 65139 HSI-H39 0.785 -0.070 25 10,775 20,600 97.73 29/09/2016 0.230 0.100 0.130 0.120 6238CD HSL-CD 0.120 -0.005 642 1.930 2.000 12.95 11/11/2016 0.010 0.005 0.005 0.005 7013WA HUBLINE-WA 0.005 Unch 76 0.010 0.160 1,550.0 04/11/2019 0.010 0.005 0.005 0.005 7013WB HUBLINE-WB 0.005 Unch 6500 0.010 0.010 50.00 20/12/2020 0.030 0.020 0.025 0.025 9601WD HWGB-WD 0.025 Unch 48 0.060 0.180 241.67 15/03/2021 0.360 0.155 0.205 0.180 4251WA IBHD-WA 0.200 0.020 40.5 0.540 1.410 198.15 08/10/2019 0.235 0.160 0.185 0.180 9687WB IDEALUBB-WB 0.185 0.010 10 0.780 1.000 51.92 30/03/2021 0.460 0.245 0.380 0.365 0081WA IDEAL-WA 0.380 0.010 115.2 0.475 0.100 1.05 29/04/2019 0.105 0.090 0.095 0.095 5225CY IHH-CY 0.095 -0.005 10 6.680 6.700 8.83 30/09/2016 0.055 0.005 0.005 0.005 3336CW IJM-CW 0.005 Unch 75 3.600 3.940 9.65 31/05/2016 0.435 0.130 0.130 0.130 0166CJ INARI-CJ 0.130 -0.035 100 2.970 2.640 2.90 18/07/2016 0.215 0.040 0.080 0.065 0166CL INARI-CL 0.080 -0.020 90.2 2.970 2.864 13.67 28/10/2016 0.270 0.035 0.045 0.035 0166CN INARI-CN 0.045 Unch 1230 2.970 3.200 13.80 31/05/2016 0.075 0.065 0.075 0.065 0166CP INARI-CP 0.075 -0.075 923.3 2.970 3.700 34.68 30/09/2016 0.110 0.075 0.085 0.075 0166CQ INARI-CQ 0.085 Unch 261.1 2.970 3.500 29.29 28/10/2016 2.320 0.813 1.460 1.380 0166WB INARI-WB 1.420 -0.030 861.3 2.970 1.600 1.68 17/02/2020 0.040 0.015 0.020 0.015 0094WA INIX-WA 0.015 Unch 60 0.045 0.100 155.56 16/11/2020 0.425 0.150 0.195 0.185 3379WB INSAS-WB 0.195 0.005 894.9 0.705 1.000 69.50 25/02/2020 0.225 0.095 0.110 0.105 1961C9 IOICORP-C9 0.105 0.005 276.3 4.460 4.700 13.62 30/12/2016 0.190 0.005 0.020 0.015 0010WA IRIS-WA 0.020 0.010 2344.6 0.165 0.150 3.03 24/06/2016 0.155 0.035 0.035 0.035 5175WA IVORY-WA 0.035 Unch 236.9 0.360 0.750 118.06 26/04/2017 0.095 0.035 0.040 0.035 0024WA JAG-WA 0.040 Unch 1694.3 0.100 0.100 40.00 14/08/2019 0.135 0.030 0.035 0.035 5161CU JCY-CU 0.035 -0.005 20 0.705 0.790 21.99 07/10/2016 0.120 0.050 0.060 0.060 8923WA JIANKUN-WA 0.060 Unch 200 0.255 0.320 49.02 23/12/2021 0.935 0.120 0.340 0.325 7167WA JOHOTIN-WA 0.335 Unch 409 1.780 2.280 46.91 21/11/2017 0.370 0.105 0.210 0.190 4383CE JTIASA-CE 0.205 0.015 763 1.440 1.100 4.86 18/07/2016 0.115 0.070 0.070 0.070 4383CG JTIASA-CG 0.070 -0.005 30 1.440 1.750 41.94 15/08/2016 0.075 0.045 0.050 0.045 4383CI JTIASA-CI 0.050 Unch 90 1.440 1.700 33.68 28/11/2016 0.130 0.095 0.105 0.100 4383CJ JTIASA-CJ 0.100 Unch 6260 1.440 1.500 25.00 30/09/2016 0.240 0.075 0.080 0.080 5247CL KAREX-CL 0.080 0.005 20 2.590 3.000 24.07 29/07/2016 0.030 0.010 0.010 0.010 3115WC KBUNAI-WC 0.010 -0.005 20 0.050 0.131 182.00 20/10/2023 0.960 0.350 0.950 0.940 7161WA KERJAYA-WA 0.945 0.005 49.9 1.830 0.880 -0.27 20/12/2017 0.330 0.040 0.040 0.040 3565WE KEURO-WE 0.040 Unch 81.1 0.910 1.180 34.07 26/08/2016 0.865 0.260 0.800 0.790 5171WA KIMLUN-WA 0.790 0.020 300.1 1.870 1.680 32.09 12/03/2024 0.200 0.065 0.090 0.085 7164WA KNM-WA 0.090 0.010 10716.8 0.505 0.980 111.88 15/11/2017 0.240 0.090 0.135 0.130 7164WB KNM-WB 0.130 Unch 1574.6 0.505 1.000 123.76 21/04/2020 0.585 0.130 0.360 0.350 7017WB KOMARK-WB 0.355 0.005 44 0.555 0.300 18.02 21/01/2020 0.700 0.470 0.600 0.555 5878WB KPJ-WB 0.600 0.020 121 4.220 4.010 9.24 23/01/2019 1.250 0.430 0.470 0.465 5038WA KSL-WA 0.470 -0.010 100 1.280 0.800 -0.78 19/08/2016 0.640 0.260 0.365 0.350 8494WA LBICAP-WA 0.350 -0.005 67 1.390 1.000 -2.88 17/04/2018 0.700 0.300 0.570 0.565 5789WA LBS-WA 0.570 Unch 72 1.590 1.000 -1.26 11/06/2018 0.450 0.215 0.400 0.400 5789WB LBS-WB 0.400 Unch 557.6 1.590 1.250 3.77 04/10/2020 0.060 0.025 0.035 0.030 5068WA LUSTER-WA 0.035 0.005 770.6 0.075 0.100 80.00 03/06/2022 0.060 0.025 0.035 0.035 5068WB LUSTER-WB 0.035 Unch 1000 0.075 0.100 80.00 26/05/2023 0.470 0.240 0.275 0.250 7617WB MAGNA-WB 0.275 -0.005 69.4 0.995 0.900 18.09 04/09/2020 0.130 0.045 0.130 0.110 8583C2 MAHSING-C2 0.110 -0.020 221.1 1.520 1.450 2.63 30/09/2016 0.372 0.130 0.240 0.230 8583WB MAHSING-WB 0.235 -0.005 829.1 1.520 1.440 10.20 16/03/2018 0.220 0.100 0.160 0.155 8583WC MAHSING-WC 0.155 -0.005 714.7 1.520 2.100 48.36 21/02/2020 0.105 0.065 0.080 0.080 5264CL MALAKOF-CL 0.080 Unch 20 1.680 1.650 12.50 29/07/2016 0.100 0.060 0.075 0.075 5264CM MALAKOF-CM 0.075 -0.005 100 1.680 1.600 8.63 28/11/2016 0.185 0.115 0.150 0.150 5264CN MALAKOF-CN 0.150 Unch 300 1.680 1.600 8.63 30/12/2016 0.330 0.130 0.140 0.140 6181WB MALTON-WB 0.140 Unch 130 0.725 1.000 57.24 29/06/2018 0.155 0.125 0.125 0.125 5236CE MATRIX-CE 0.125 Unch 20 2.560 2.350 1.56 31/05/2016 0.070 0.005 0.005 0.005 6012CQ MAXIS-CQ 0.005 -0.005 57.8 5.950 7.200 21.34 30/06/2016 0.170 0.060 0.100 0.065 6012CT MAXIS-CT 0.065 -0.030 60.5 5.950 6.300 9.16 30/12/2016 0.030 0.010 0.010 0.010 5189WA MAXWELL-WA 0.010 Unch 5 0.045 0.400 811.11 24/03/2020 0.105 0.040 0.085 0.080 115517 MAYBANKC17 0.080 -0.005 1230.1 9.010 8.200 -0.11 18/07/2016 0.235 0.150 0.190 0.185 115519 MAYBANKC19 0.190 -0.005 1045 9.010 8.600 0.72 30/12/2016 0.555 0.040 0.055 0.055 5983WA MBMR-WA 0.055 Unch 100 2.160 3.200 50.69 14/06/2017 1.220 0.290 0.340 0.330 1171WA MBSB-WA 0.335 Unch 138.1 1.350 1.000 -1.11 31/05/2016 0.110 0.030 0.035 0.035 5040WB MEDAINC-WB 0.035 Unch 1570 0.520 0.600 22.12 22/04/2022 0.110 0.020 0.030 0.030 5040WC MEDAINC-WC 0.030 Unch 6 0.520 0.800 59.62 24/08/2024 0.315 0.130 0.280 0.250 1694WB MENANG-WB 0.260 0.010 1569.7 0.855 1.000 47.37 09/07/2019 0.045 0.010 0.020 0.015 0075WA MEXTER-WA 0.015 Unch 1655 0.075 0.130 93.33 17/09/2018 0.370 0.305 0.345 0.340 3069WA MFCB-WA 0.340 -0.005 579 1.780 2.220 43.82 08/04/2020 0.430 0.135 0.170 0.135 3662WB MFLOUR-WB 0.135 -0.005 140.5 1.230 2.060 78.46 09/05/2017 0.140 0.005 0.035 0.020 5186CX MHB-CX 0.025 -0.005 4479.1 1.290 1.250 0.78 29/04/2016 0.485 0.210 0.485 0.420 5186CY MHB-CY 0.440 -0.010 220.4 1.290 0.900 3.88 30/11/2016 0.225 0.120 0.225 0.200 5186CZ MHB-CZ 0.205 -0.015 2274.3 1.290 1.000 9.30 15/12/2016 0.210 0.115 0.140 0.140 3816C2 MISC-C2 0.140 Unch 320 8.900 8.000 2.47 08/06/2016 0.780 0.280 0.660 0.655 9571WC MITRA-WC 0.660 0.005 21.1 1.270 0.600 -0.79 04/07/2016 0.575 0.235 0.540 0.530 9571WD MITRA-WD 0.540 0.010 763.2 1.270 1.090 28.35 23/08/2020 1.260 0.500 1.190 1.170 6114WB MKH-WB 1.170 -0.030 24 2.680 1.890 14.18 29/12/2017 0.360 0.115 0.300 0.280 7595WA MLGLOBAL-WA 0.300 0.015 112.6 0.590 0.500 35.59 27/10/2019 0.240 0.025 0.105 0.100 2194C1 MMCCORP-C1 0.105 Unch 291.2 2.100 2.100 10.00 30/09/2016 0.205 0.005 0.010 0.010 1651C5 MRCB-C5 0.010 Unch 100 1.250 1.500 20.80 31/05/2016 0.530 0.020 0.265 0.245 1651C6 MRCB-C6 0.260 0.010 37.4 1.250 1.000 0.80 08/06/2016 0.240 0.075 0.150 0.140 1651WA MRCB-WA 0.145 0.005 4995.3 1.250 2.300 95.60 14/09/2018 0.030 0.010 0.015 0.010 5150WA MSPORTS-WA 0.015 Unch 48.1 0.055 0.180 254.55 09/11/2017 0.035 0.010 0.020 0.020 0092WA MTOUCHE-WA 0.020 Unch 50 0.135 0.890 574.07 17/01/2018 0.465 0.120 0.350 0.350 0138CN MYEG-CN 0.350 -0.005 160 2.060 1.225 1.94 30/08/2016 0.300 0.155 0.190 0.190 0138CS MYEG-CS 0.190 -0.020 10 2.060 1.590 4.85 30/08/2016 0.360 0.160 0.215 0.215 0138CT MYEG-CT 0.215 Unch 190 2.060 1.775 7.04 30/09/2016 0.180 0.080 0.080 0.080 0138CU MYEG-CU 0.080 Unch 2929 2.060 2.300 23.30 29/07/2016 0.235 0.120 0.120 0.120 0138CV MYEG-CV 0.120 -0.015 50 2.060 2.250 23.79 28/10/2016 0.100 0.045 0.050 0.045 0138CW MYEG-CW 0.050 Unch 616 2.060 2.350 25.00 23/11/2016 0.065 0.020 0.030 0.025 0096WA NEXGRAM-WA 0.030 0.005 555.3 0.060 0.100 116.67 16/05/2022 0.035 0.015 0.020 0.015 0096WB NEXGRAM-WB 0.020 Unch 78.1 0.060 0.260 366.67 21/07/2023 0.090 0.020 0.045 0.040 7139WA NICE-WA 0.045 0.010 168.5 0.110 0.160 86.36 09/08/2017 0.240 0.150 0.205 0.195 0172WA OCK-WA 0.205 Unch 6465.6 0.830 0.710 10.24 15/12/2020 0.195 0.100 0.135 0.130 7071WB OCR-WB 0.135 0.005 90.5 0.500 0.350 -3.00 02/09/2016 0.470 0.255 0.310 0.300 5053WC OSK-WC 0.305 Unch 165.5 1.650 1.800 27.58 22/07/2020 0.085 0.010 0.075 0.065 0005WA PALETTE-WA 0.070 0.005 4418.4 0.090 0.040 22.22 20/03/2018 0.060 0.005 0.005 0.005 5657CO PARKSON-CO 0.005 Unch 100 0.945 2.170 130.61 31/05/2016 0.165 0.010 0.025 0.015 5657CP PARKSON-CP 0.020 Unch 3359.3 0.945 1.000 8.99 31/05/2016 0.100 0.010 0.035 0.030 1295C4 PBBANK-C4 0.030 Unch 473.6 19.100 19.300 2.62 30/06/2016 0.280 0.130 0.275 0.255 9997WB PENSONI-WB 0.270 0.015 759.3 0.710 0.600 22.54 20/01/2024 0.085 0.015 0.025 0.020 5146WA PERWAJA-WA 0.025 Unch 780.5 0.120 1.000 754.17 28/02/2022 0.510 0.120 0.145 0.145 8311WC PESONA-WC 0.145 Unch 103 0.365 0.250 8.22 27/01/2020 0.310 0.075 0.120 0.110 5681CP PETDAG-CP 0.110 Unch 63.5 23.820 23.000 2.10 30/06/2016 0.185 0.065 0.080 0.070 5681CQ PETDAG-CQ 0.075 0.010 123.8 23.820 24.860 9.40 31/10/2016 0.130 0.010 0.015 0.010 6033CM PETGAS-CM 0.015 0.005 131.1 22.080 24.000 9.38 30/06/2016 0.600 0.330 0.400 0.390 1945WC PJDEV-WC 0.400 0.010 25.2 1.400 1.000 0.00 04/12/2020 0.125 0.005 0.125 0.115 8869CL PMETAL-CL 0.125 0.020 927.5 3.030 2.500 3.14 08/06/2016 0.750 0.235 0.750 0.725 8869CN PMETAL-CN 0.740 0.065 70 3.030 1.600 1.65 18/07/2016

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Singapore stocks — Straits Times Index fi nishes 0.24% higher at 2,957.15 points

SINGAPORE: Singapore stocks ended higher 0.37% at 2,960.78 points yester-day, as Asian stock markets rallied again as another surge in oil prices and gains on Wall Street reinforced optimism over the world economy. Singapore Exchange (SGX) fell 2.98% to S$7.81 after turning in almost fl at earn-ings of S$89.2 million for the third quarter ended March 2016 from S$88.2 million a year ago. It said on Wednesday its revenue rose 3% to S$205.8 million for the quarter from S$199.3 million a year ago. Metro Holdings closed 4.2% higher at S$1 with 2.1 million shares changing hands. The property developer and operator of de-partment stores received a query from the SGX regarding its unusual trading activity and whether the company was aware of any information not previously disclosed that might have explained the trading. China Star Food, the manufacturer and retailer of sweet potato snacks, rose another 31% to 38 Singapore cents on its second day of trading. On its trading de-but on Wednesday, the stock had closed at 29 Singapore cents, 26% higher than its placement price of 23 Singapore cents. The company had raised S$5.8 million by selling 25.25 million placement shares. SunMood Food Company rose 4.4% to close at 4.7 Singapore cents after the food

distributor’s subsidiary clinched several sales orders to introduce a range of fruits and fruit-related products such as frozen durians and young coconuts. SunMoon Distribution & Trading entered into the deals with Shanghai YIGUO E-Commerce Co, an existing customer that supplies food and beverages in China. It also has a partner-ship with Alibaba.com since 2014.

Japanese stocks — Nikkei hits 2½-month high on sliding yen, rising hopes of BoJ easing

TOKYO: Japanese stocks rose to a 2½-month high yesterday after the yen resumed a weakening trend against the US dollar amid a bounce in oil prices and growing expectations of further easing from the Bank of Japan (BoJ). The Nikkei Share Average climbed 2.7% or 457.08 points to end the day at 17,363.62, its highest level since Feb 3. “It’s nice to see the Nikkei blast up above 17,000 points but it’s hard to imagine that we’ll hold this level with so much global uncertainty and geopolitical risk,” said Gavin Parry, managing director at Parry International Trading. “It’s only a matter of time before we see another exogenous shock that sends the yen higher due to its status as a safe-ha-ven currency,” he added. “From what we know so far it’s all very domestic, with no US impact and no impact

in Europe, and I think people are a bit hasty to cast this in the same light as the Volkswa-gen scandal. But of course the facts aren’t all in yet, so it’s hard to know for sure.” Mitsubishi Motor Corp shares remained untraded yesterday as sell orders piled up throughout the session after the automaker said on Wednesday that it had manipulat-ed test data to overstate the fuel economy of 625,000 cars sold in Japan. Mitsubishi Motor’s stock ended the day 20.5% lower at a record low of ¥583. Fujifi lm Holdings Corp ended the day 6.3% higher after The Nikkei business daily reported the imaging company would project a record group operating profi t of around ¥220 billion for the fi scal year ending March 2017.

Australian stocks — Australian shares surge on commodities bounce, New Zealand hits new high

SYDNEY: Australian shares hit their highest close in three-and-a-half months yester-day as surging prices for oil and iron ore lifted major mining and energy companies, while New Zealand shares edged up to a fresh record. The S&P/ASX 200 Index rose 56.76 points or 1.09% to 5,272.713 at the close of trade, its third day of gains in a row. Driving the gains was a rousing recov-ery in iron ore, Australia’s single biggest export earner, which hit 10-month highs amid a jump in steel prices in China.

“The Chinese stimulus driven surge in commodities continued to rally industrial metals,” says broker IGN, noting steel re-bar futures in Shanghai climbed over 6% on Wednesday to their highest since Sep-tember 2014. “Unsurprisingly, the energy and materials sectors were the strongest performers in most markets.” The energy sector jumped 0.54%, while basic materials added 1.96%. BHP Billiton rose 3.49% to its highest since early No-vember, while Rio Tinto added 2.43% to reach ground last trod in October. Gold miner Oz Minerals was another gainer, reaching a three-year peak after reaffirming its production guidance. Conglomerate Wesfarmers put on 2.78% after reporting solid food and liquor sales. New Zealand’s benchmark S&P/NZX 50 Index added 4.8 points or 0.1% to fi nish the session at 6,906.1, a new all-time peak. Air New Zealand lost 3.04% after the airline announced its March group load factors were down 2.4%. Telecommunications company Spark NZ led losses, falling 1.5% while Contact Energy slipped 1.3%. The New Zealand subsidiaries of Aus-tralian banks were the top performers, with Australia and New Zealand Banking rising 2.7% and Westpac up 2.3%. Infrastructure company Infratil was up 1.2% after announcing a US$30 million deal with electric vehicle company Wrightspeed Inc. — Agencies

FT Straits TimesIndex points

Mar 1, 2010

2,774.06

2,960.78+10.83

(+0.37%)

Apr 21, 2016

2400

2700

3000

3300

3600

Nikkei 225Index points

10,172.06

Mar 1, 2010 Apr 21, 2016

8100

11275

14450

17625

20800

17,363.62+457.08

(+2.70%)

ASX 200Index points

4,686.53

Mar 1, 2010 Apr 21, 2016

5,272.713+56.760

(+1.09%)3800

4630

5460

6290

Shanghai CompositeIndex points

3,087.842

Mar 1, 2010 Apr 21, 2016

1900

2875

3850

4825

5800 2,952.89-19.69

(-0.66%)

Bursa Malaysia Equity Derivatives

0.200 0.105 0.200 0.180 8869CO PMETAL-CO 0.195 0.035 284 3.030 2.700 14.85 15/12/2016 2.220 0.705 1.970 1.900 8869WC PMETAL-WC 1.940 0.060 641.9 3.030 1.100 0.33 22/08/2019 1.110 0.645 0.685 0.670 7088WB POHUAT-WB 0.680 0.010 305 1.500 1.000 12.00 21/10/2020 0.195 0.005 0.010 0.005 4634CU POS-CU 0.005 Unch 155.7 2.640 5.500 108.90 31/05/2016 0.280 0.020 0.110 0.100 4634CV POS-CV 0.105 Unch 1171.2 2.640 2.770 12.88 31/10/2016 0.115 0.085 0.085 0.085 4634CW POS-CW 0.085 -0.010 20 2.640 3.000 24.91 11/10/2016 0.205 0.010 0.075 0.075 5204CB PRESBHD-CB 0.075 -0.005 150 2.890 2.500 -3.11 29/04/2016 0.195 0.155 0.165 0.160 5204CD PRESBHD-CD 0.165 Unch 150 2.890 3.000 18.08 11/10/2016 0.405 0.160 0.375 0.370 7168WA PRG-WA 0.370 -0.005 226.3 1.100 0.750 1.82 06/07/2019 0.155 0.055 0.060 0.060 7145WA PSIPTEK-WA 0.060 Unch 0.2 0.120 0.100 33.33 16/11/2019 0.120 0.035 0.040 0.040 0007WA PUC-WA 0.040 Unch 290 0.075 0.100 86.67 25/12/2024 0.035 0.020 0.025 0.025 0007WB PUC-WB 0.025 Unch 38 0.075 0.100 66.67 15/02/2019 0.180 0.010 0.015 0.015 6807CH PUNCAK-CH 0.015 Unch 180 1.290 1.767 39.16 18/07/2016 0.130 0.080 0.105 0.105 7084CH QL-CH 0.105 0.005 10 4.480 4.400 12.28 23/11/2016 0.090 0.030 0.040 0.040 5256WA REACH-WA 0.040 Unch 400 0.680 0.750 16.18 12/08/2022 0.150 0.015 0.035 0.025 7232WA RESINTC-WA 0.025 -0.010 101 0.365 0.500 43.84 29/09/2016 0.115 0.070 0.090 0.085 5270WA RSENA-WA 0.090 0.005 16714.8 0.410 0.500 43.90 01/12/2023 0.055 0.015 0.020 0.015 0133WC SANICHI-WC 0.015 Unch 94.8 0.050 0.100 130.00 24/09/2019 0.150 0.100 0.105 0.105 5157WA SAUDEE-WA 0.105 Unch 158.6 0.310 0.500 95.16 31/03/2021 0.530 0.090 0.285 0.275 7073WA SEACERA-WA 0.280 -0.005 190.1 0.900 1.000 42.22 16/05/2017 0.320 0.080 0.090 0.090 0055WA SERSOL-WA 0.090 Unch 100 0.120 0.180 125.00 18/04/2023 0.200 0.070 0.170 0.170 4197C3 SIME-C3 0.170 0.010 1 7.970 7.900 7.65 30/09/2016 0.050 0.005 0.015 0.010 0060WA SKH-WA 0.010 Unch 4301.9 0.065 0.100 69.23 16/01/2017 0.160 0.020 0.035 0.035 521815 SKPETROC15 0.035 0.005 200 1.790 2.200 29.75 30/08/2016 0.325 0.010 0.055 0.045 521816 SKPETROC16 0.050 0.005 7831.2 1.790 1.800 6.15 31/05/2016 0.275 0.070 0.125 0.120 521817 SKPETROC17 0.125 0.005 1122 1.790 1.700 12.43 30/09/2016 0.145 0.020 0.025 0.025 521818 SKPETROC18 0.025 0.005 200 1.790 2.000 17.32 08/06/2016 0.285 0.135 0.150 0.150 521820 SKPETROC20 0.150 -0.005 10 1.790 1.600 10.34 18/07/2016 0.140 0.040 0.040 0.040 521824 SKPETROC24 0.040 Unch 1100 1.790 2.100 25.14 30/08/2016 0.210 0.030 0.035 0.035 5218HC SKPETRO-HC 0.035 -0.005 266 1.790 1.700 -1.12 31/05/2016 1.050 0.300 0.770 0.765 7155WA SKPRES-WA 0.765 -0.010 144.1 1.330 0.550 -1.13 27/06/2017 0.345 0.060 0.095 0.095 0117WA SMRT-WA 0.095 Unch 50 0.200 0.180 37.50 01/08/2017 1.000 0.795 0.880 0.875 5242WA SOLID-WA 0.880 0.050 1.5 1.340 0.500 2.99 16/12/2020 1.550 0.620 1.550 1.450 7103WA SPRITZER-WA 1.470 -0.010 105.4 2.700 1.180 -1.85 13/12/2016 0.090 0.040 0.040 0.040 0129WA SRIDGE-WA 0.040 Unch 42.5 0.120 0.180 83.33 24/02/2023 0.230 0.065 0.145 0.145 7143WA STONE-WA 0.145 -0.005 10 0.360 0.300 23.61 21/06/2020 0.155 0.055 0.065 0.065 1201WA SUMATEC-WA 0.065 0.005 50 0.130 0.320 196.15 03/03/2021 0.150 0.040 0.055 0.050 1201WB SUMATEC-WB 0.050 Unch 11021.7 0.130 0.175 73.08 13/11/2018 0.195 0.090 0.160 0.160 5263CA SUNCON-CA 0.160 0.030 340 1.650 1.400 4.24 28/07/2016 0.170 0.075 0.140 0.130 5263CB SUNCON-CB 0.140 0.015 369.9 1.650 1.450 9.09 07/10/2016 0.235 0.110 0.205 0.190 5263CC SUNCON-CC 0.205 0.025 457.8 1.650 1.450 6.52 28/10/2016 0.085 0.070 0.085 0.085 5263CD SUNCON-CD 0.085 0.010 95 1.650 1.800 21.97 28/10/2016 1.260 0.630 0.900 0.870 5211WA SUNWAY-WA 0.900 0.005 68 3.150 2.250 0.00 17/08/2016 0.140 0.060 0.095 0.095 0148WB SUNZEN-WB 0.095 Unch 8 0.270 0.250 27.78 25/02/2021 0.270 0.055 0.055 0.055 710610 SUPERMX-C10 0.055 -0.005 100 2.800 3.170 21.07 31/10/2016 0.120 0.085 0.105 0.105 710616 SUPERMX-C16 0.105 -0.005 20 2.800 2.750 16.96 30/09/2016 0.765 0.170 0.385 0.360 7106C5 SUPERMX-C5 0.385 -0.005 2276.5 2.800 2.100 2.50 18/07/2016 0.400 0.085 0.165 0.160 7106C6 SUPERMX-C6 0.165 -0.010 210 2.800 2.200 -0.21 29/04/2016 0.310 0.055 0.075 0.070 7106C8 SUPERMX-C8 0.075 Unch 70.1 2.800 3.000 17.86 25/08/2016 0.235 0.045 0.050 0.045 7106C9 SUPERMX-C9 0.050 -0.005 559.1 2.800 3.300 25.89 29/07/2016 0.345 0.135 0.205 0.200 7082WB SYF-WB 0.205 0.005 1652.3 0.590 0.700 53.39 11/11/2019 0.295 0.155 0.195 0.195 1538WB SYMLIFE-WB 0.195 0.005 42 0.725 1.100 78.62 11/11/2020 0.200 0.070 0.075 0.070 5012CF TAANN-CF 0.070 -0.025 25 4.800 5.500 21.88 30/09/2016 0.080 0.050 0.055 0.055 5012CG TAANN-CG 0.055 -0.015 40 4.800 5.800 28.85 28/11/2016 1.280 0.480 0.825 0.800 5191WA TAMBUN-WA 0.825 0.025 20.7 1.420 0.600 0.35 30/05/2017



0.125 0.030 0.115 0.105 534719 TENAGA-C19 0.105 Unch 913 14.499 13.500 1.80 08/06/2016 0.595 0.360 0.595 0.585 534722 TENAGA-C22 0.590 0.015 130 14.500 10.500 0.90 30/09/2016 0.325 0.325 0.325 0.325 534724 TENAGA-C24 0.325 0.175 22 14.500 12.000 2.93 18/07/2016 0.155 0.005 0.155 0.150 534726 TENAGA-C26 0.150 0.005 18 14.500 12.880 4.34 30/08/2016 0.200 0.150 0.200 0.195 534727 TENAGA-C27 0.195 0.005 78 14.500 13.700 7.26 30/08/2016 2.550 0.600 1.840 1.820 7034WA TGUAN-WA 1.820 -0.070 76.9 3.150 1.500 5.40 09/10/2019 0.120 0.005 0.025 0.025 9075WA THETA-WA 0.025 Unch 15.2 0.460 1.199 166.09 04/07/2016 0.180 0.070 0.080 0.080 7889WB THRIVEN-WB 0.080 -0.010 3 0.280 0.640 157.14 05/10/2020 0.025 0.005 0.010 0.010 7079WB TIGER-WB 0.010 Unch 471.8 0.055 0.170 227.27 23/12/2018 0.025 0.015 0.020 0.020 7079WC TIGER-WC 0.020 Unch 340 0.055 0.080 81.82 11/02/2021 0.165 0.075 0.160 0.155 486312 TM-C12 0.160 0.005 194 6.730 6.500 3.71 30/11/2016 0.260 0.105 0.235 0.230 0101WB TMCLIFE-WB 0.230 Unch 758 0.785 0.750 24.84 21/06/2019 0.680 0.300 0.490 0.480 8397WC TNLOGIS-WC 0.480 -0.015 55 1.320 1.000 12.12 26/12/2018 0.080 0.030 0.035 0.030 7113C1 TOPGLOV-C1 0.035 Unch 1165.4 5.050 7.000 46.93 31/01/2017 1.050 0.045 0.045 0.045 7113C3 TOPGLOV-C3 0.045 -0.010 40 5.050 7.660 55.69 15/08/2016 0.195 0.160 0.175 0.160 7113C5 TOPGLOV-C5 0.160 -0.025 60 5.050 5.800 30.06 28/10/2016 0.470 0.115 0.180 0.180 7113CW TOPGLOV-CW 0.180 -0.025 50 5.050 4.040 6.73 28/10/2016 0.465 0.130 0.150 0.145 7113CX TOPGLOV-CX 0.150 -0.010 942.8 5.050 4.625 9.41 10/08/2016 0.885 0.145 0.175 0.145 7113CY TOPGLOV-CY 0.150 -0.040 902.2 5.050 5.250 11.39 31/05/2016 0.170 0.025 0.135 0.120 5054WA TRC-WA 0.125 -0.005 674.1 0.480 0.500 30.21 20/01/2017 0.080 0.005 0.030 0.025 5054WB TRC-WB 0.030 Unch 37.8 0.480 0.610 33.33 14/07/2016 0.085 0.005 0.015 0.015 0118WA TRIVE-WA 0.015 0.005 200 0.035 0.100 228.57 06/01/2017 0.390 0.195 0.295 0.295 5401WA TROP-WA 0.295 -0.015 116 1.010 1.000 28.22 06/12/2019 0.250 0.155 0.190 0.190 5042WB TSRCAP-WB 0.190 0.005 29.1 0.525 0.700 69.52 28/12/2020 0.380 0.020 0.130 0.120 514818 UEMS-C18 0.120 -0.005 93.7 1.060 0.930 4.72 30/08/2016 0.295 0.040 0.060 0.060 514819 UEMS-C19 0.060 0.005 554 1.060 1.000 2.83 29/04/2016 0.150 0.040 0.045 0.045 514820 UEMS-C20 0.045 Unch 331 1.060 1.000 7.08 18/07/2016 0.130 0.040 0.045 0.040 514822 UEMS-C22 0.045 -0.020 15.2 1.060 1.200 21.70 28/07/2016 0.120 0.050 0.070 0.060 5243C3 UMWOG-C3 0.060 0.005 2734.7 0.965 1.070 20.21 31/10/2016 0.110 0.065 0.075 0.065 5243C4 UMWOG-C4 0.070 Unch 119.5 0.965 1.020 27.46 30/11/2016 0.060 0.055 0.055 0.055 5243C5 UMWOG-C5 0.055 Unch 600 0.965 1.300 43.26 15/12/2016 0.075 0.005 0.015 0.010 5243CY UMWOG-CY 0.010 0.005 2962.4 0.965 1.600 68.91 29/07/2016 0.125 0.015 0.020 0.020 5243CZ UMWOG-CZ 0.020 0.005 1175 0.965 1.200 29.53 18/07/2016 0.250 0.090 0.150 0.130 7091WA UNIMECH-WA 0.130 0.005 107.6 1.330 1.500 22.56 18/09/2018 0.155 0.010 0.015 0.010 5005CH UNISEM-CH 0.010 -0.010 200.2 2.270 2.280 2.64 28/04/2016 0.160 0.040 0.080 0.075 5005CJ UNISEM-CJ 0.075 -0.020 85 2.270 2.050 3.52 29/07/2016 0.150 0.011 0.140 0.130 0069WB VIVOCOM-WB 0.135 Unch 21120.5 0.315 0.240 19.05 07/09/2018 0.240 0.022 0.225 0.215 0069WC VIVOCOM-WC 0.215 Unch 8654.2 0.315 0.100 0.00 22/01/2020 0.175 0.055 0.065 0.065 6963CA VS-CA 0.065 0.005 0.2 1.220 1.380 29.10 28/10/2016 0.150 0.030 0.030 0.030 6963CB VS-CB 0.030 -0.010 200 1.220 1.480 28.69 28/10/2016 0.120 0.020 0.020 0.020 6963CD VS-CD 0.020 Unch 110 1.220 1.600 36.72 29/07/2016 0.075 0.060 0.060 0.060 6963CF VS-CF 0.060 Unch 10 1.220 1.300 23.77 30/09/2016 0.175 0.015 0.035 0.035 0066WA VSOLAR-WA 0.035 -0.005 20 0.085 0.120 82.35 01/12/2017 0.515 0.290 0.305 0.295 6963WA VS-WA 0.300 Unch 1743.2 1.220 1.650 59.84 06/01/2019 0.195 0.100 0.175 0.175 9679CW WCT-CW 0.175 0.070 2.6 1.670 1.700 22.75 30/09/2016 0.165 0.125 0.125 0.125 9679CX WCT-CX 0.125 Unch 30 1.670 1.600 10.78 30/12/2016 0.290 0.100 0.255 0.245 9679WD WCT-WD 0.255 Unch 116 1.670 1.710 17.66 11/12/2017 0.280 0.130 0.210 0.205 9679WE WCT-WE 0.205 -0.005 270.9 1.670 2.080 36.83 27/08/2020 1.077 0.497 0.585 0.585 7245WA WZSATU-WA 0.585 -0.005 2.4 0.955 0.500 13.61 28/10/2024 0.045 0.010 0.015 0.015 5156WC XDL-WC 0.015 Unch 600 0.045 0.115 188.89 02/07/2018 0.025 0.015 0.015 0.015 0095WA XINGHE-WA 0.015 Unch 280 0.055 0.100 109.09 22/03/2019 0.065 0.040 0.045 0.045 0165WA XOX-WA 0.045 Unch 50 0.130 0.200 88.46 10/02/2019 1.100 0.200 0.400 0.400 7003WA Y&G-WA 0.400 -0.010 2.8 1.140 1.000 22.81 16/11/2019 0.100 0.025 0.045 0.040 7020WB YKGI-WB 0.045 0.005 135.7 0.230 0.500 136.96 28/05/2020 0.195 0.085 0.150 0.145 4677C2 YTL-C2 0.145 -0.005 200 1.630 1.500 0.92 31/05/2016 0.130 0.110 0.125 0.110 4677C3 YTL-C3 0.110 -0.020 540 1.630 1.550 8.59 28/11/2016 0.500 0.330 0.390 0.385 6742WB YTLPOWR-WB 0.390 0.005 75 1.520 1.140 0.66 11/06/2018 0.260 0.070 0.140 0.140 7028WA ZECON-WA 0.140 0.005 0.2 0.750 1.060 60.00 03/03/2017 0.270 0.110 0.120 0.115 2283WA ZELAN-WA 0.120 0.005 300.1 0.225 0.250 64.44 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 (4,000,000) BERJAYA RETAIL 627,315,700 15/4ABLEGROUP 100,000 YEOH CHONG KEAT 663,800 19/4AEON CO (M) 800,000 MITSUBISHI UFJ FINANCIAL GROUP INC. 274,723,828 14/4 (JAPAN)AJIYA 125,000 YEOMAN 3-RIGHTS VALUE ASIA FUND 4,000,000 15/4ALLIANCE FINANCIAL GROUP (320,000) EMPLOYEES PROVIDENT FUND BOARD 249,394,640 15/4BERJAYA AUTO 23,762,700 EMPLOYEES PROVIDENT FUND BOARD 107,303,120 15/4BERJAYA AUTO (89,746,600) BERJAYA GROUP 160,852,700 14 & 15/4BUMI ARMADA (1,444,100) EMPLOYEES PROVIDENT FUND BOARD 432,287,600 15/4CAHYA MATA SARAWAK 3,920,800 EMPLOYEES PROVIDENT FUND BOARD 111,266,027 14 & 15/4CIMB GROUP 952,938 MITSUBISHI UFJ FINANCIAL GROUP INC. 817,211,104 11 - 13/4 (JAPAN) CIMB GROUP (7,590,500) EMPLOYEES PROVIDENT FUND BOARD 1,273,191,590 12 & 13/4DIGI.COM 606,800 EMPLOYEES PROVIDENT FUND BOARD 944,219,840 13 & 15/4EDEN INC. (3,000,000) SERATA PADU S/B 45,794,171 15/4EMAS KIARA INDUSTRIES 1,830,000 KIM FENG CAPITAL S/B 45,020,000 18/4GOLDIS 997,200 TAN CHIN NAM 263,951,210 14, 15 18 & 19/4HONG LEONG BANK (194,900) EMPLOYEES PROVIDENT FUND BOARD 289,198,071 15/4IGB CORPORATION 119,000 EMPLOYEES PROVIDENT FUND BOARD 68,916,072 15/4IGB REAL ESTATE MGMT TRUST 150,000 EMPLOYEES PROVIDENT FUND BOARD 232,768,113 15/4IHH HEALTHCARE (1,490,900) EMPLOYEES PROVIDENT FUND BOARD 732,899,000 15/4IJM CORPORATION (2,308,700) AMANAHRAYA TRUSTEES 293,688,000 15 & 18/4 - SKIM AMANAH SAHAM BUMIPUTERAIJM CORPORATION (950,000) EMPLOYEES PROVIDENT FUND BOARD 476,788,078 15/4INARI AMERTRON 200,000 MAI MANG LEE 21,815,189 19/4INARI AMERTRON 209,800 EMPLOYEES PROVIDENT FUND BOARD 69,787,427 15/4IOI CORPORATION (3,400,300) EMPLOYEES PROVIDENT FUND BOARD 460,774,273 15/4KINSTEEL (6,200,000) KIN KEE S/B 148,903,955 18 & 19/4KPJ HEALTHCARE (1,179,200) EMPLOYEES PROVIDENT FUND BOARD 126,797,995 14 & 15/4KUALA LUMPUR KEPONG 497,000 AMANAHRAYA TRUSTEES 63,924,800 15 & 18/4 - SKIM AMANAH SAHAM BUMIPUTERAMALAKOFF CORPORATION (314,900) EMPLOYEES PROVIDENT FUND BOARD 811,324,933 15/4MALAYAN BANKING 2,367,100 EMPLOYEES PROVIDENT FUND BOARD 1,422,395,483 15/4MALAYAN BANKING 504,500 AMANAHRAYA TRUSTEES 3,535,985,589 15/4 - SKIM AMANAH SAHAM BUMIPUTERAMAXIS 2,709,000 EMPLOYEES PROVIDENT FUND BOARD 608,618,034 13 & 15/4MENANG CORPORATION (M) 1,665,800 TOH MAY FOOK 21,174,500 13/4MMAG 263,000 FIRSTWIDE SUCCESS S/B 160,822,124 18/4NEW HOONG FATT 120,100 YEOMAN 3-RIGHTS VALUE ASIA FUND 4,725,000 15/4OPCOM (156,000) M OCEAN CAPITAL S/B 42,701,425 13/4ORIENTAL 160,000 MITSUBISHI UFJ FINANCIAL GROUP INC. 72,782,400 14/4 (JAPAN) PETRONAS GAS 173,900 EMPLOYEES PROVIDENT FUND BOARD 232,920,600 15/4PPB GROUP (90,400) EMPLOYEES PROVIDENT FUND BOARD 84,146,879 15/4PUBLIC BANK (2,099,100) EMPLOYEES PROVIDENT FUND BOARD 520,268,668 15/4SAPURAKENCANA PETROLEUM 3,276,200 EMPLOYEES PROVIDENT FUND BOARD 840,798,100 15/4SCICOM (MSC) 185,000 LEO SURESH ARIYANAYAKAM 85,958,963 18 & 19/4SIME DARBY (760,100) EMPLOYEES PROVIDENT FUND BOARD 761,127,609 15/4SUNWAY R. ESTATE INVEST TRUST 800,000 AMANAHRAYA TRUSTEES 289,511,500 18/4 - SKIM AMANAH SAHAM BUMIPUTERASYARIKAT TAKAFUL MALAYSIA (142,900) EMPLOYEES PROVIDENT FUND BOARD 87,114,700 13 - 15/4TALAM TRANSFORM (500,000,000) KUMPULAN EUROPLUS 492,840,517 18/4TAMBUN INDAH LAND (73,700) EMPLOYEES PROVIDENT FUND BOARD 22,942,500 15/4TELEKOM MALAYSIA (7,000,000) EMPLOYEES PROVIDENT FUND BOARD 500,887,936 14 & 15/4TELEKOM MALAYSIA 3,767,600 AMANAHRAYA TRUSTEES 496,194,295 14 & 15/4 - SKIM AMANAH SAHAM BUMIPUTERATIEN WAH PRESS (639,100) LEMBAGA TABUNG ANGKATAN TENTERA 9,144,100 14 & 15/4UMW 500,000 EMPLOYEES PROVIDENT FUND BOARD 207,082,393 14/4WCT 527,600 EMPLOYEES PROVIDENT FUND BOARD 89,910,580 15/4YNH PROPERTY (243,000) DATO DR YU KUAN CHON 131,144,907 15, 18 & 19/4YONG TAI 1,420,000 BOO KUANG LOON 16,457,800 18/4YTL CORPORATION (2,000,000) EMPLOYEES PROVIDENT FUND BOARD 719,851,747 15/4

COMPANY SHARES ACQUIRED DIRECTOR/SUBSTANTIAL SHARES HELD TRANSACTION (DISPOSED) SHAREHOLDER AFTER CHANGE DATE

Insider moves (Filings on Apr 20, 2016)

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.

• Introducing the New MINI Clubman at EX8, Jalan SS13/4, Industrial Estate, Subang Jaya, Selangor at 10.30am.

• Ajiya Bhd’s annual general meeting at VIP Hotel, Batu 1, Jalan Buloh Kasap,

Segamat, Johor, 11.30am.• Malaysia International Jewellery Festival

2016 (Spring Edition) Opening Ceremo-ny at Hall 5, Kuala Lumpur Convention Centre, Kuala Lumpur at 2.30pm.

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 $ 0.615 0.696 0.676 0.484 0.881 0.937 0.937 0.892 2.7091 4.506 54.467 4.574 2.556 9,155 46.200 76.360 5.656 32.394 2.534 2.609 5.645 24.356 5.398

EURO 1.627 1.132 1.100 0.788 1.434 1.524 1.524 1.451 4.4077 7.332 88.618 7.442 4.158 14,896 75.168 124.238 9.202 52.705 4.123 4.245 9.185 39.627 8.783

US $ 1.437 0.883 0.971 0.696 1.267 1.346 1.346 1.281 3.8930 6.476 78.270 6.573 3.673 13,156 66.390 109.730 8.127 46.551 3.641 3.749 8.112 35.000 7.758

SWISS FR 1.480 0.909 1.030 0.717 1.304 1.386 1.386 1.319 4.0084 6.668 80.590 6.768 3.781 13,546 68.358 112.983 8.368 47.931 3.749 3.860 8.353 36.037 7.988

STERLING £ 2.065 1.269 1.437 1.396 1.820 1.934 1.935 1.841 5.5939 9.305 112.467 9.445 5.277 18,905 95.397 157.672 11.678 66.889 5.232 5.387 11.656 50.292 11.147

CANADA $ 1.135 0.697 0.790 0.767 0.549 1.063 1.063 1.012 3.0736 5.113 61.796 5.190 2.900 10,387 52.417 86.634 6.417 36.753 2.875 2.960 6.405 27.633 6.125

BRUNEI $ 1.068 0.656 0.743 0.722 0.517 0.941 1.000 0.952 2.8927 4.812 58.159 4.884 2.729 9,776 49.331 81.535 6.039 34.590 2.706 2.786 6.028 26.007 5.764

SINGAPORE $ 1.067 0.656 0.743 0.721 0.517 0.941 1.000 0.952 2.8916 4.810 58.136 4.882 2.728 9,772 49.313 81.504 6.037 34.577 2.705 2.785 6.025 25.997 5.762

AUSTRALIA $ 1.122 0.689 0.781 0.758 0.543 0.989 1.050 1.051 3.0385 5.054 61.090 5.130 2.866 10,269 51.818 85.645 6.343 36.333 2.842 2.926 6.332 27.318 6.055

MALAYSIA RM 0.369 0.227 0.257 0.249 0.179 0.325 0.346 0.346 0.329 1.0000 1.663 20.105 1.688 0.943 3,380 17.054 28.186 2.088 11.958 0.935 0.963 2.084 8.990 1.993

100 CHINESE RMB 22.191 13.639 15.442 14.998 10.747 19.559 20.782 20.790 19.785 60.1170 1,209 101.503 56.714 203,167 1,025.223 1,694 125.505 718.854 56.232 57.893 125.270 540.480 119.796

100 BANGLAD’H TAKA 1.836 1.128 1.278 1.241 0.889 1.618 1.719 1.720 1.637 4.9738 8.274 8.398 4.692 16,809 84.822 140.194 10.384 59.475 4.652 4.790 10.364 44.717 9.911

100 DANISH KRONER 21.862 13.437 15.214 14.776 10.588 19.270 20.475 20.482 19.492 59.2270 98.52 1,191 55.874 200,159 1,010.04 1,669 123.65 708.21 55.40 57.04 123.42 532.48 118.02

100 UAE DIRHAM 39.128 24.049 27.229 26.445 18.949 34.488 36.644 36.658 34.886 106.0012 176.32 2,131 178.97 358,233 1,808 2,988 221.30 1,268 99.15 102.08 220.88 953.00 211.23

1000 INA RUPIAH 0.109 0.067 0.076 0.074 0.053 0.096 0.102 0.102 0.097 0.2959 0.492 5.949 0.500 0.279 5.046 8.340 0.618 3.538 0.277 0.285 0.617 2.660 0.590

100 INDIA RUPEE 2.164 1.330 1.506 1.463 1.048 1.908 2.027 2.028 1.930 5.8638 9.754 117.893 9.901 5.532 19,817 165.280 12.242 70.117 5.485 5.647 12.219 52.718 11.685

100 JAPAN YEN 1.310 0.805 0.911 0.885 0.634 1.154 1.226 1.227 1.168 3.5478 5.901 71.330 5.990 3.347 11,990 60.503 7.407 42.423 3.319 3.417 7.393 31.896 7.070

100 NORWEGIAN KRONER 17.681 10.867 12.304 11.950 8.563 15.584 16.559 16.565 15.764 47.9000 79.678 963 80.875 45.188 161,879 816.876 1,350 572.768 44.804 46.128 99.812 430.643 95.451

100 PHILIPPINE PESO 3.087 1.897 2.148 2.086 1.495 2.721 2.891 2.892 2.752 8.3629 13.911 168.139 14.120 7.889 28,263 142.619 235.721 17.459 7.822 8.054 17.426 75.186 16.665

100 QATAR RIYAL 39.463 24.255 27.462 26.671 19.112 34.783 36.958 36.972 35.185 106.9094 177.836 2,149 180.508 100.857 361,302 1,823 3,013 223.193 1,278 102.955 222.774 961.165 213.039

100 SAUDI RIYAL 38.330 23.559 26.674 25.906 18.563 33.785 35.898 35.911 34.175 103.8410 172.732 2,088 175.327 97.962 350,933 1,771 2,927 216.787 1,242 97.130 216.380 933.578 206.925

100 SWEDISH KRONOR 17.714 10.888 12.327 11.972 8.579 15.614 16.590 16.596 15.794 47.9900 79.828 964.853 81.027 45.273 162,183 818.411 1,353 100.188 573.844 44.888 46.215 431.452 95.630

100 THAI BAHT 4.106 2.524 2.857 2.775 1.988 3.619 3.845 3.847 3.661 11.1229 18.502 223.629 18.780 10.493 37,590 189.688 313.515 23.221 133.003 10.404 10.711 23.178 22.165

100 HK$ 18.524 11.385 12.891 12.519 8.971 16.327 17.348 17.355 16.516 50.1830 83.476 1,008.944 84.730 47.342 169,594 855.810 1,414 104.766 600.067 46.940 48.327 104.570 451.168

STOCK HIGH LOW CLOSE VOLUME (RM) (RM) (RM) ('000)

HSI-HU 0.080 0.045 0.050 31848.4CHINA50-HJ 0.255 0.240 0.240 74FBMKLCI-H29 0.195 0.180 0.180 44FBMKLCI-C44 0.180 0.180 0.180 10FBMKLCI-H31 0.345 0.325 0.325 1537TENAGA-C24 0.325 0.325 0.325 22HSI-HY 1.100 1.020 1.020 12.8INARI-CQ 0.085 0.075 0.085 261.1HSI-HW 0.380 0.330 0.345 15351.1HSI-H25 0.375 0.335 0.340 742HSI-HX 0.685 0.615 0.625 522.6HSI-HV 0.525 0.400 0.420 1023.2

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)

AAX-WA 0.240 0.220 0.225 94751.3EKOVEST 1.460 1.380 1.460 6333.9SGB 0.965 0.900 0.950 13147.2HLIND 7.450 7.290 7.380 157.5PMETAL-CO 0.200 0.180 0.195 284SGB-PA 0.115 0.105 0.110 38437.8YEELEE 2.410 2.380 2.390 272.1AAX 0.395 0.380 0.380 115472.7PMETAL-CN 0.750 0.725 0.740 70SPRITZER-WA 1.550 1.450 1.470 105.4SUNCON-CD 0.085 0.085 0.085 95SPRITZER 2.750 2.680 2.700 245

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

Russia’s debt

Bank of Russia key rate, infl ation and GDP growth

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

APR/MAY -8.5 -10.0 -8.5

INDEX AND FUTURES OPEN CHANGE INCONTRACT LAST CHANGE VOLUME INTEREST OPEN INTEREST

Money market

Commodities

MAY/JUN -25MAY/JUL -24MAY/AUG -3JUN/JUL 1

CPO FUTURES INDICATIVE ROLL-OVER

CPO/SOYOIL FUTURES BASIS (USD)CURRENT -75.053 MONTHS AVERAGE -75.086 MONTHS AVERAGE -83.90

OPEN CHANGE INCONTRACT LAST CHANGE VOLUME INTEREST OPEN INTEREST

MAY-16 2,710 18 180 6,265 -248JUN-16 2,735 26 6,037 44,280 -13,626JUL-16 2,734 25 20,780 94,212 -191AUG-16 2,713 26 7,875 46,571 2,118SEP-16 2,685 28 5,983 41,584 -721

Palm oil up for fourth day on lower production outlook

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

Oil higher as IEA expects biggest non-Opec output fall in 25 years

METAL & PRECIOUS METALSTIN US$/TON KLTM 17,100 UNCHCOPPER USC/IBS CMX 2.27 0.02GOLD US$/TROY OZ CMX 1,259.70 6.30PLATINUM US$/TROY OZ NYMEX 1,029.80 2.40PALLADIUM US$/TROY OZ NYMEX 615.15 UNCHSILVER USC/TROY OZ CMX 17.37 0.24ALUMINIUM RMB/TON SHF 12,395 340ZINC RMB/TON SHF 15,345 140

ENERGYLIGHT CRUDE OIL US$/BBL NYMEX 44.22 0.04HEATING OIL USC/GAL NYMEX 1.3416 0.0033NATURAL GAS US$/MMBTU NYMEX 2.192 0.012BRENT CRUDE US$/BBL ICE 45.90 0.10GAS OIL US$/TON ICE 398.50 11.75

CRUDE PALM OIL RM/TON MDEX 2,734 25RUBBER SEN/KG MRB 602.00 10.00CORN USC/BSH CBOT 400.50 5.75SOYBEANS USC/BSH CBOT 1,031.50 21.75WHEAT USC/BSH CBOT 508.75 4.50LIVE CATTLE USC/IBS CME 117.275 -1.30COCOA US$/TON NYBOT 3,096 14COFFEE USC/IBS NYBOT 130.35 1.65SUGAR USC/IBS NYBOT 15.80 -0.01COTTON USC/IBS NYC 63.78 -0.31

AGRICULTURE UNIT EXCHANGE LAST PRICE CHANGE

Rubber - M’sia SMR 20

Sen/Kg

Jan 7, 2007 Apr 21, 2016

200

575

950

1325

1700

602.00(+10.00)

SGS & ITS EXPORT ESTIMATES (TONNES)SHIPMENT DAYS

1 - 10TH DAYS1- 15TH DAYS1 - 20TH DAYS1 - 25TH DAYSFULL MONTH

FEB’16 MAR’16 APR’16

197/250 308/328 305/321 420/408 416/451 500/484 582/595 718/713 724/738 781/788 883/887 —/— 956/943 1,168/1,175 —/—

MALAYSIAN PALM OIL BOARD

PRODUCTIONEXPORT STOCKS

FKLI

Index points Open Interest

Jan 4, 2010

2000

24000

46000

68000

90000

1220

1410

1600

1790

1980

Apr 21, 2016

1,722.50(+17.50)

Klibor

Implied interest rate (%)

Oct 1, 2000 Apr 21, 2016

3.65(Unch)

1.5

2.5

3.5

4.5

Centrifuged Latex

Sen/Kg

Jan 7, 2007

485.50(+5.00)

Apr 21, 2016

300

500

700

900

1100

CPO futures

FBM KLCI futures

MAY6 96.32 — — —JUN6 96.35 — — —JUL6 96.35 — — —SEP6 96.35 — — —DEC6 96.35 — — —MAR7 96.35 — — —JUN7 96.30 — — —SEP7 96.26 — — —DEC7 96.21 — — —MAR8 96.21 — — —JUN8 96.21 — — —SEP8 96.21 — — —DEC8 96.21 — — —MAR9 96.21 — — —JUN9 96.21 — — —SEP9 96.21 — — —DEC9 96.21 — — —MAR0 96.21 — — —JUN0 96.21 — — —SEP0 96.21 — — —DEC0 96.21 — — —MAR1 96.21 — — —TOTAL 0 0

MONTH SETTLEMENT CHANGE VOLUME OPEN PRICE INTEREST

Klibor

Malaysian palm oil futures rose for a fourth consecutive session yesterday, hitting their highest in more than two weeks, on expec-tations of lower production following hot and dry weather brought on by the El Nino weather pattern. Purchases by palm oil importers, includ-ing top buyer India, are running behind schedule and a rush to cover supplies could stoke further gains in the market that has climbed 11% this year, traders said. Th e palm oil contract for July delivery on Bursa Malaysia Derivatives closed 0.9% or RM25 higher at RM2,734 per tonne. “Our prognosis is that with lower produc-tion and higher consumption of biodiesel this year, the stage is set for the next rally and prices can range between RM2,800 to RM2,900 in the second quarter,” said a trader. “Consumers, especially our main buyers, have not covered enough — Pakistan, Bang-ladesh and India. It will be a supply driven push initially before demand kicks in.” Exports of Malaysian palm oil products for April 1 to 20 rose 0.9% to 724,169 tonnes from 717,670 tonnes shipped during March 1 to 20, cargo surveyor Societe Generale de Surveillance said earlier this week. Malaysian palm oil inventories in March fell below 2 million tonnes for the fi rst time in a year as buyers rushed to stock up on the tropical oil before a tax on exports kicked in, off setting a seasonal jump in output. — Reuters

DEC’15 JAN’16 FEB’16 MAR’16

1,399 1,130 1,043 1,220 1,483 1,279 1,085 1,334 2,631 2,308 2,169 1,885

MPOB FFB REF PRICE (MILL GATE PRICE)

NORTH 20.00% 597 19.00% 571 18.00% 545SOUTH 20.00% 602 19.00% 575 18.00% 549CENTRAL 20.00% 603 19.00% 576 18.00% 550EAST COAST 20.00% 598 19.00% 572 18.00% 546SABAH 22.00% 580 21.00% 557 20.00% 533SARAWAK 22.00% 590 21.00% 564 20.00% 540

REGION GRADE A GRADE B GRADE C OER (RM/TON) OER (RM/TON) OER (RM/TON)

(IN RM/TON) APR’2016 MAY’2016 JUN’2016

CPO DELD 2,680 2,695 2,695PK EX-MILL 2,395 2,385 2,380CPKO DELD 5,084 5,060 5,055RBD P.OIL FOB 2,762 2,765 2,769RBD P.OLEIN FOB 2,777 2,781 2,781RBD P.STEARIN FOB 2,602 2,591 2,583

MPOB Palm oil physical

Crude prices fi rmed yesterday after the Inter-national Energy Agency (IEA) said non-Or-ganization of the Petroleum Exporting Coun-tries production would fall this year by the most in a generation and help rebalance a market dogged by oversupply. IEA chief Fatih Birol said low oil prices had cut investment by about 40% over the past two years, with sharp falls in the United States, Canada, Latin America and Russia. Benchmark Brent crude futures were up 10 US cents at US$45.90 a barrel. US crude futures were four US cents higher at US$44.22. Both have gained about 70% from lows hit between January and February. “It looks very strong at the moment, sen-timent is bullish, technicals look fi ne, so I rather see prices rising further from here,” Commerzbank analyst Carsten Fritsch said. — Reuters

Commodities

Th ailand’s SET Index closed at its high-est since Oct 27, up 0.6% from a day earlier, driven by energy stocks. — Agencies

CPO & Open Interest

CPO RM/tonne Open Interest

Jan 6, 2008 Apr 21, 2016

10000

57500

105000

152500

200000

1200

1950

2700

3450

4200

(+25)2,734

CPO vs Soyoil

CPO RM/tonne Soyoil US$/Ibs

Jan 6, 2008 Apr 21, 2016

3,033(RM0.3539/tonne)

2,734(+25) 0.0000

0.1825

0.3650

0.5475

0.7300

1200

2500

3800

5100

6400

Th e euro rose to the day’s high against the US dollar yesterday after the European Central Bank (ECB) held interest rates unchanged at record lows, as expected, with the focus now turning to president Mario Draghi’s press conference. Th e euro was up 0.3% at US$1.1322, and has gained 4.6% since the last ECB meeting on March 10 when the ECB eased policy. Against the yen, it edged higher to ¥124.25. Draghi is likely to drive home the case for ultra-loose monetary policy, but any hint that current policy settings are appropriate for the time being could see the euro rise towards US$1.15, a level seen last in October last year. At yesterday’s meeting, the ECB kept its rate on bank overnight deposits, general-ly seen as its primary interest rate tool, at 0.4%.— Reuters

Euro climbs, focus on policy signals from Draghi

Th e FBM KLCI futures contract on Bursa Ma-laysia Derivatives ended higher yesterday, tracking the strong performance of the un-derlying cash market. Th e benchmark FBM KLCI closed 12.56 points higher at 1,721.47. Spot contract April 2016 added 17.5 points to 1,722.5; May 2016 gained 14.5 points to 1,714.5; June 2016 rose 11 points to 1,707 and September 2016 improved nine points to 1,696. Turnover rose to 9,342 lots from 6,282 lots recorded Wednesday, while open interest increased to 45,460 contracts from 41,687 contracts previously. Southeast Asian stock markets gained yesterday on an overnight rally in oil prices with the Th ai index closing at its highest in nearly six months while Malaysian stocks ended a three-day fall.

FBM KLCI futures higher in line with cash market

Crude Oil

US$/bbl

Apr 10, 2007 Apr 21, 2016

44.22(+0.04)

20.00

53.75

87.50

121.25

155.00

Gold

US$/troy oz

Aug 31, 2008 Apr 21, 2016

1,259.70(+6.30)

700

1020

1340

1660

1980

Long Rolls - KLCI futures

Index points

Jan 4, 2010 Apr 21, 2016

-8.50(-3.50)

-35.00

-21.75

-8.50

4.75

18.00

EURO

Euro/USD

Jan 2, 2006

1.02

1.16

1.30

1.44

1.1322(+0.0027)

Apr 21, 2016

1.58

FBMKLCI 1,721.47 12.56 134.4M APR 16 1,722.50 17.50 8,053 42,189 -1,206MAY 16 1,714.50 14.50 1,143 2,627 207JUN 16 1,707.00 11.00 130 539 23SEP 16 1,696.00 9.00 16 105 2TOTAL 9,342 45,460 -974

APR 16 9 1.26 5.83 -4.57MAY 16 41 6.31 12.55 -6.24ROLL’S FAIR -1.67


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 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: Th e FBM KLCI rose 12.56 points or 0.7% at 1,721.47 points to its intraday high yesterday, tracking regional shares’ upward movement as crude oil climbed above US$46 a barrel. Across Asia, Japan’s Nikkei 225 rose 2.7% while Hong Kong’s Hang Seng added 1.82%. Reuters reported that world stock markets climbed to their highest in almost fi ve months yesterday after a surge in oil prices boosted risk appetite, while the euro steadied ahead of a European Central Bank meeting. Brent crude, the international benchmark, extended Wednesday’s strong gains to hit a fi ve-month peak just above US$46 a barrel after the International Energy Agency said 2016 would see the biggest fall in non-Organization of the Petroleum Exporting Countries production in a generation. In Malaysia, JF Apex Securities Bhd senior analyst Lee Cherng Wee told theedgemarkets.com that yesterday’s pos-itive performance was mainly because of regional factors as US markets and crude oil rose overnight. “Th e outlook will be clearer by the second half, after look-ing at crude oil prices’ movements and corporate earnings,” Lee noted. Across Bursa Malaysia, there were 1.99 billion shares val-ued at RM1.95 billion traded. Gainers outpaced decliners at 507 and 351 respectively. Th e most-actively traded stock was AirAsia X Bhd. Fraser & Neave Holdings Bhd was the biggest gainer. Th e largest decliner was Nestle (Malaysia) Bhd. — by Kamarul Anwar

FBM KLCI rises 12.56points as oil climbs above US$46

KLCI CHANGE CLOSE VOLUME POINTS (RM) (RM) ('000)GENTING 2.92 0.460 9.600 3028.8TENAGA NASIONAL 0.96 0.100 14.500 11937.3SIME DARBY 0.75 0.070 7.970 2010.6CIMB GROUP 0.72 0.050 4.920 12700.8GENTING MALAYSIA 0.70 0.070 4.560 3003.6PETRONAS GAS 0.67 0.200 22.080 629.1HONG LEONG FINANCE 0.58 0.300 15.500 400.6PETRONAS CHEMICAL 0.54 0.040 6.730 3038.8PUBLIC BANK 0.53 0.080 19.100 5818.1WESTPORTS HOLDINGS 0.52 0.090 4.270 6238.4AXIATA GROUP 0.45 0.030 5.880 2466.5IOI CORPORATION 0.44 0.040 4.460 6036.9HONG LEONG BANK 0.37 0.100 13.620 1014.8DIGI.COM 0.26 0.020 4.680 2929.3MAXIS 0.25 0.020 5.950 2568.2MAYBANK -0.33 -0.020 9.010 9255.9SUB-TOTAL 10.34 OTHERS 2.22 GRAND TOTAL 12.56

1,725.00 1,707.00 1,715.50 1,700.00 1,709.00 1,697.00

Market movers

DOW JONES 18,096.27 42.67S&P 500 2,102.40 1.60NASDAQ 100 4,540.44 3.35FTSE 100 6,410.26 4.91AUSTRALIA 5,272.71 56.76CHINA 2,952.89 -19.69HONG KONG 21,622.25 385.94INDIA 25,880.38 36.20

INDONESIA 4,903.09 26.49JAPAN 17,363.62 457.08KOREA 2,022.10 16.27PHILIPPINES 7,257.85 56.48SINGAPORE 2,960.78 10.83TAIWAN 8,568.65 54.17THAILAND 1,423.90 8.94VIETNAM 575.73 7.70

CLOSE CHANGE CLOSE CHANGE

World equity indices

TURNOVER CHANGE CHANGE PRICE PE DIVIDEND (‘000) (RM) (%) (RM) RATIO YIELD (%)

Daily top 20 active stocks

F&N 21.000 0.600GENTING 9.600 0.460HLFG 15.500 0.300DLADY 53.400 0.300PANAMY 29.000 0.300AIRPORT 6.860 0.270SCC 2.240 0.260PETGAS 22.080 0.200HLIND 7.380 0.190HUATLAI 4.200 0.190TENAGA-C24 0.325 0.175LAFMSIA 9.120 0.170

NESTLE 74.700 -0.300ALLIANZ 10.220 -0.200HSI-HV 0.420 -0.180HSI-HY 1.020 -0.160YNHPROP 2.000 -0.100SAB 3.660 -0.100ADVPKG 2.150 -0.100HSI-H27 0.610 -0.085HSI-HX 0.625 -0.085AJI 9.450 -0.080PESTECH 6.600 -0.080TOPGLOV 5.050 -0.080

UP CHANGE CLOSE (RM)

DOWN CHANGE CLOSE (RM)

Top gainers and losers (ranked by RM)

CMSB-CM 0.015 200.00TENAGA-C24 0.325 116.67IRIS-WA 0.020 100.00FGV-C9 0.020 100.00UMWOG-CY 0.010 100.00WCT-CW 0.175 66.67HSI-C18 0.130 52.94TRIVE-WA 0.015 50.00BAC-C7 0.075 50.00TWITTER-C3 0.015 50.00HSI-C16 0.030 50.00DRBHCOMC18 0.015 50.00

BJMEDIA-WA 0.010 -66.67HSI-HU 0.050 -56.52INARI-CP 0.075 -50.00UNISEM-CH 0.010 -50.00MAXIS-CQ 0.005 -50.00KBUNAI-WC 0.010 -33.33AEON-CE 0.010 -33.33ECOWLD-CB 0.010 -33.33MAXIS-CT 0.065 -31.58UEMS-C22 0.045 -30.77HSI-HV 0.420 -30.00FBMKLCI-H53 0.025 -28.57

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

CMSB-CM 0.015 200.00TENAGA-C24 0.325 116.67IRIS-WA 0.020 100.00FGV-C9 0.020 100.00UMWOG-CY 0.010 100.00WCT-CW 0.175 66.67HSI-C18 0.130 52.94TRIVE-WA 0.015 50.00BAC-C7 0.075 50.00TWITTER-C3 0.015 50.00HSI-C16 0.030 50.00DRBHCOMC18 0.015 50.00

BJMEDIA-WA 0.010 -66.67HSI-HU 0.050 -56.52INARI-CP 0.075 -50.00UNISEM-CH 0.010 -50.00MAXIS-CQ 0.005 -50.00KBUNAI-WC 0.010 -33.33AEON-CE 0.010 -33.33ECOWLD-CB 0.010 -33.33MAXIS-CT 0.065 -31.58UEMS-C22 0.045 -30.77HSI-HV 0.420 -30.00FBMKLCI-H53 0.025 -28.57

UP CHANGE CLOSE (%)

DOWN CHANGE CLOSE (%)

Top gainers and losers - warrants (ranked by percentage)

ARMADA 94,347 2.58 0.020 0.795 0.830 0.780PERISAI 30,900 8.00 0.020 0.270 0.280 0.255ALAM 28,441 9.86 0.035 0.390 0.405 0.360IKHMAS 28,065 4.03 0.030 0.775 0.805 0.755ARMADA-C11 26,821 50.00 0.010 0.030 0.035 0.020IRIS 26,040 3.13 0.005 0.165 0.170 0.155ARMADA-C6 19,889 0.00 0.000 0.030 0.035 0.030CMSB-CM 18,798 200.00 0.010 0.015 0.015 0.010GLOTEC 18,701 0.00 0.000 0.050 0.055 0.050RSENA-WA 16,715 5.88 0.005 0.090 0.090 0.085TALAMT 16,256 10.00 0.005 0.055 0.055 0.050CME 13,098 10.00 0.005 0.055 0.055 0.050THHEAVY 12,355 7.69 0.010 0.140 0.145 0.135FRONTKN 11,549 0.00 0.000 0.170 0.175 0.165UMWOG 11,467 2.66 0.025 0.965 0.990 0.950RGB 11,006 3.23 0.005 0.160 0.160 0.155

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

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1,721.47 12.56 5,718.85 52.09 2,960.78 10.83 17,363.62 457.08 21,622.25 385.94 18,096.27 42.671,721.47 12.56 5,718.85 52.09 2,960.78 10.83 17,363.62 457.08 21,622.25 385.94 18,096.27 42.67KLCI FBM ACE FTSTI NIKKEI HANG SENG DOW JONES1,721.47 12.56 5,718.85 52.09 2,960.78 10.83 17,363.62 457.08 21,622.25 385.94 1,721.47 12.56 5,718.85 52.09 2,960.78 10.83 17,363.62 457.08 21,622.25 385.94

Moving average - 20-dayKL Composite Index

Volume (’mil)

Jan 2, 2008 Apr 21, 2016

1,721.47(+12.56)

1,716.73

820.0

1102.5

1385.0

1667.5

1950.0

0

300

600

900

1707.0

1708.7

1710.4

1712.1

1713.8

1715.5

1717.2

1718.9

1720.6

1722.3

1724.0

17:1516:3015:3014:3012:4511:3010:309:308:45

Index point

KL Composite Index

KLCI futures

1,722.50 (+17.50)

1,721.47(+12.56)

APR 16 1,722.50 17.50MAY 16 1,714.50 14.50JUN 16 1,707.00 11.00

Every great dream begins with a dreamer.— Harriet Tubman

AAX 115,472.7 -0.005 -1.30 0.380 — 0.00AAX-WA 94,751.3 UNCH UNCH 0.225 — 0.00ARMADA 94,346.5 0.020 2.58 0.795 — 2.10SGB-PA 38,437.8 0.005 4.76 0.110 — 0.00EKA 37,756.8 -0.005 -4.00 0.120 — 0.00VIVOCOM 33,965.0 0.005 1.61 0.315 73.81 0.00HSI-HU 31,848.4 -0.065 -56.52 0.050 — 0.00PERISAI 30,899.9 0.020 8.00 0.270 — 0.00KNM 30,566.5 0.010 2.02 0.505 16.67 0.00ALAM 28,441.4 0.035 9.86 0.390 6.34 0.00IKHMAS 28,064.5 0.030 4.03 0.775 12.82 0.00ARMADA-C11 26,820.7 0.010 50.00 0.030 — 0.00IRIS 26,039.5 0.005 3.13 0.165 — 0.00SKPETRO 24,040.3 0.020 1.13 1.790 — 1.14SUMATEC 21,878.2 0.010 8.33 0.130 10.81 0.00VIVOCOM-WB 21,120.5 UNCH UNCH 0.135 — 0.00SONA-WA 20,406.0 UNCH UNCH 0.040 — 0.00ARMADA-C6 19,889.3 UNCH UNCH 0.030 — 0.00HSI-C19 19,787.2 0.035 17.95 0.230 — 0.00CMSB-CM 18,798.2 0.010 200.00 0.015 — 0.00

TEP 2 FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY

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NEWS HIGHLIGHTS from TheEdgeProperty.com

LAUNCHES + EVENTS If you have any real estate-related events, email us at [email protected]. Events listed here will also appear on TheEdgeProperty.com.

Homedec Sabah 2016 Date: April 22 to 24 (Fri to Sun)Time: 11am to 9pm Venue: 1 Borneo Exhibition Hall, S-701, Jalan Sulaman, 88400 Kota Kinabalu, SabahContact: (03) 7982 4668Organiser: CIS Network Sdn BhdHomedec Kota Kinabalu showcases renovation and home decoration products like bed and living, windows, door and roofi ng, stone and tiles, decoration and lighting, kitchen cabinet and wardrobe, landscape and ID clinic, home appliances and furniture.

Malaysia International Home Renovation ExpoDate: April 22 to 24 (Fri to Sun)Time: 11am to 9pm Venue: Mid Valley Exhibition Centre, Level 31, The Gardens South Tower, Mid Valley City, Lingkaran Syed Putra, 59200 Kuala LumpurContact: (03) 9056 3323 Organiser: EG Groups Holding Sdn BhdMalaysia International Home Renovation Expo will be showcasing a wide variety of products of home furnishings and home textiles, providing an insight to interior design, renovation, decoration and refurbishing as well as landscape.

International Real Estate Research Symposium(IRERS 2016) Date: April 26 to 28 (Tues to Thurs)Time: 2pm to 10pm (Tues);9am to 5pm (Wed and Thurs)Venue: Putra World Trade Centre (PWTC), 41, Jalan Tun Ismail, 50480 Kuala Lumpur, Federal Territory Kuala LumpurContact: (03) 7803 6006Organiser: National Institute of Valuation (INSPEN)IRERS 2016 provides a platform for industry experts, practitioners, policymakers, academics and institutions to discuss topics and ideas on the changing faces of today’s real estate market. Participants will need to register online and pay a registration fee.

Power Property Investment TalkDate: April 23 and 24 (Sat and Sun)Time: 11am to 6pm Venue: D’sara Sentral Sales Gallery, Jalan Sungai Buloh, SelangorContact: (03) 9221 6888Organiser: Mah Sing GroupHo Chin Soon and Ishmael Ho, chairman and CEO respectively, of Ho Chin Soon Research will be sharing their insights in two talks - “The future trend and changing dynamic of real estate in Greater Klang Valley” and “Sungai Buloh, transformed by two confi rmed MRT lines”. Participants need to register online to get free admission tickets to this investment talk.

EcoWorld’s Batu Kawan Insight Talk Date: April 24 (Sun) Time: 2pmVenue: EcoWorld Gallery @ Eco Meadows, Lot 740, Jalan Paboi, Mukim 14, 14100 Simpang Ampat, PenangContact: (04) 510 2255Organiser: Eco World Development Group BhdThe project architect Datuk Jong East Full of East Design Architect will be sharing his view on the Batu Kawan property market. The marketing representatives of EcoWorld will also be introducing the company’s EcoWorld HomePlus package to visitors.

Mah Sing Hawaiian-themed Food Trucks Fest Date: April 23 (Sat) Time: 3pm to 8pm Venue: M Residence Clubhouse, Jalan Bandar Tasik Puteri, 48020 Rawang, SelangorContact: (03) 6092 8188Organiser: Mah Sing Group BhdThe Food Trucks Fest will feature 10 food trucks off ering various types of food and beverages. Besides a wide selection of food, there will also be exciting games for visitors with mystery prizes to be won.

Crest Builder Holdings Bhd has enterd into a joint venture (JV) with Prasarana Malaysia Bhd and Detik Utuh Sdn Bhd to develop Latitud 8, a 2.72-acre mixed-com-mercial development which has a total gross development value (GDV) of RM1.1 billion.

Crest Builder group managing director Eric Yong said the 43-sto-rey single block mixed commercial development, which is located at the Dang Wangi LRT station at Jalan Ampang, Kuala Lumpur, will feature a lifestyle retail podi-um with business and convention

LRT Kelana Jaya Line extension on track to start operations end-JuneTh e construction of the new LRT Kelana Jaya Line extension pro-ject (LEP) is currently progress-ing to the fi nal stage, and the line is on track to begin operations at end-June this year, said infra-structure operator Prasarana Rail and Infrastructure Projects Sdn Bhd (Praise) CEO Datuk Zohari Sulaiman last week.

Kelana Jaya LEP covers a dis-tance of 17.4km, starting from Kelana Jaya station and passing through 12 new stations, includ-ing Ara Damansara, Subang Jaya and USJ, before ending at Putra Heights, which is an integrated station with the extended Am-pang Line.

Th e new Kelana Jaya extend-ed line is connected to the KTM Komuter network at Subang Jaya station and the Bus Rapid Transit – Sunway Line at USJ 7 station.

With the extended network, the Kelana Jaya LRT alignment will run for a total length of 46.4km, covering key commercial and highly-populated residential areas like Petaling Jaya, Bangsar, Gom-bak, Taman Melati, Setiawangsa and Kuala Lumpur’s central busi-ness district.

facilities, offi ce space, small offi ce/fl exible offi ce (SoFo), small offi ce/home offi ce (SoHo) and duplexes, as well as a rooftop lounge and bar.

“We plan to soft launch the res-idential units in Singapore and Hong Kong as well as Malaysia by December this year as we ex-pect the market sentiment to im-prove in the third quarter. The estimated selling price averages RM1,300 psf,” he added during the press conference after the ground-breaking ceremony.

The development started its construction last month and it is

expected to be com-pleted by 2020. Th is project will also be the fi rst transit-ori-ented development (TOD) in Malaysia, which is construct-ed directly above an active and operating LRT station.

Latitud 8 at Jalan Ampang to be unveiled by year-end

WCT Holdings Bhd is set to launch the fi rst phase of luxury condominium development Th e Waltz Residences at Paradigm Garden City, Overseas Union Garden (OUG), Kuala Lumpur in 2Q2016, said WCT Holdings man-

aging director Taing Kim Hwa last week.

The Waltz Residences com-prises two tower blocks and 419 units. Taing, however, declined to provide further details such as built-ups and prices of the con-

do units.“It is currently open for regis-

tration and we will announce the other details of the project such as the built-ups and prices once we are ready,” he told Th eEdge-Property.com.

WCT Holdings to launch fi rst phase of OUG luxury condos in 2Q2016

Brand New Launch of Manchester City Centre Residential Project Date: April 23 and 24 (Sat and Sun)Time: 10am to 7pm Venue: Irving Suite, Level 5, E&O Hotel, 10, Lebuh Farquhar, 10200 George Town, Penang, and Davidson Room 1&2, Jalan Stesen Sentral 2, Kuala Lumpur Sentral, 50470 Kuala Lumpur.Contact: (016) 228 8691Organiser: Cornerstone International Properties Cornerstone International Properties together with its UK developer will be unveiling Affi nity Living Riverside - a brand new purpose-built residential property in the heart of Manchester with 2-bedroom units, with selling prices starting from £280,000.

Johawaki Development to launch fi nal phase of Avanti ResidencesJohawaki Development Sdn Bhd is set to launch the third and fi nal phase of its Avanti Residences in Saujana Permai U17, Shah Alam over two days starting May 7.

“Th e fi nal phase [with 38 units of semi-detached houses] of the development will be the bigger units, with built-ups from 3,090 sq ft onwards. Th e gross development value (GDV) of the fi nal phase is around RM40 million to RM50 million,” said Johawaki Develop-ment director Mohamad Akmal Datuk Johari at a media briefi ng last week.

Th e fi rst and second phases of the project comprising 22 and 24 units respectively were launched in September last year. Each semi-dee unit has six bedrooms and fi ve bathrooms.

trendingnow

TEP 3FRIDAY APRIL 22, 2016 • THEED G E FINANCIAL DAILY

The Parque Residences fi rst phase 30% sold before offi cial launch

Deputy Finance Minister Datuk Chua Tee Yong expects the Malaysian housing property mar-ket to further soften this year. He sees de-

velopers focusing on the more af-fordably-priced homes.

He is correct on both counts.Speaking to reporters after

launching the National Property Information Centre’s (Napic) 2015 Property Market Report on April 19, the deputy minister said the unsold housing stock – and by extension the country’s property overhang – could be reduced with fewer high-end homes launches.

Property overhang units must not be confused with unsold stock. Th e government has defi ned overhang units as properties that are com-pleted and issued with Certifi cates of Fitness for Occupation (CFO) or Temporary Certifi cates of Fitness for Occupation (TCFO), but remain unsold despite having been put on the market for at least nine months.

As at end-2015, Malaysia’s hous-

Half of overhang housing units are priced at RM300,000 and below

KENNY YAP / TheEdgeProperty.com

PROPERTY CHAT

BY TA N A I L E N G

KOTA KEMUNING: Th e fi rst phase of Th e Parque Residences in Eco Sanctuary has seen 30% of its condominium units sold since the project opened for sale early this year, said Eco World Development Group Bhd (EcoWorld) general manager Ho Kwee Hong.

She told Th eEdgeProperty.com that sales were moving slowly but steadily and the company plans to offi cially launch phases one and two, either at the end of this year or early next year.

“Th e Parque Residences consists of six 20 to 25-storey residential blocks which house 1,000 high-rise units. Th e fi rst phase of three blocks comprises 597 units with built-up sizes ranging from 516 sq ft to 1,388 sq ft. Th e selling price starts from RM400,000 or averages RM700 psf,” she said.

The 27-acre development is the third phase of the 308-acre Eco Sanctuary town-ship at the south of Kota Kemuning.

Th e township development consists of landed homes, condominiums, wellness apartments, shop offi ces, a strip mall, offi ce towers, a hotel and a convention centre.

Th e facilities of Th e Parque Residences include a swimming pool, indoor badminton and futsal courts, cafe and entertainment room, gymnasium, jogging path, yoga deck

and community garden.Th ere will also be a shuttle bus service

connecting Th e Parque Residences to the commercial hub – Eco Sanctuary City – which is situated in the township.

“Besides that, there will be a space allo-cated for spa services and we are currently looking for a spa operator to serve the res-idents,” she added.

Ho noted that the full-fl edge facilities have attracted many buyers to start their family or their retirement plan here.

“Th ere are customers who bought a unit

here as their retirement home, as Th e Par-que Residences has complete amenities, beautiful greenery and a safe environment. Most of them are currently staying in landed homes and want to downsize their hous-es as their children have left home,” she explained.

She said there are also some young buy-ers who cannot aff ord the landed homes in Eco Sanctuary and have chosen to start with high-rise units in the township before up-grading their property in the future.

Th e Parque Residences is also the fi rst high-rise residential development in Eco Sanctuary, and is expected to be complet-ed by end-2018.

Ho added that the residents of Eco Sanc-tuary will enjoy greater accessibility follow-ing the completion of the fi rst stretch of the West Coast Expressway – linking Banting and Port Klang to Taiping – which is slated to be completed by end-2018 or early 2019.

Th is highway will be connected to the Kuala Lumpur-Kuala Selangor Expressway (LATAR Expressway) which enables users to bypass the heavy traffi c to Petaling Jaya.

Besides this, Eco Sanctuary is connected to four highways: the Shah Alam Express-way (KESAS), Th e Kemuning-Shah Alam Highway (LKSA), North South Expressway Central Link (ELITE) and Th e South Klang Valley Expressway (SKVE).

Ho: The full facilities of The Parque Residences have attracted buyers looking for retirement homes.

An artist’s impression of The Parque Residences.

NEWS

ing overhang units totalled 11,316 and these were worth RM5.9 billion, up by 16.3% in volume and 56% in value from those in 2014.

It would be simplistic to assume that the higher-end homes account for most of the country’s overhang units. Or that people are no longer interested in investing in more ex-pensive homes.

Consider this – residential prop-erty priced at RM500,000 and more accounted for less than one third of the housing property overhang in

2015. On the fl ipside, houses that are priced at RM300,000 or less made up half of the overhang numbers. In fact, homes priced at RM100,000 and below accounted for about 15% of the overhang. (Refer to chart).

Of the total 3,577 overhang units priced at RM500,000 and above, Johor housed 930 units, Penang (705), Selangor (512) and Kuala Lumpur (427).

Why are the cheaper homes not selling? One would have expected these to be snapped up, right?

Poor take-ups for the low- and low-medium cost homes are noth-ing new. Th ey have been subjects of debate and discussion in the property fraternity for years.

Issues hampering sales would include that of inconvenient loca-tion, lack of accessibility and un-suitable design of the product. Th e inability to secure end-fi nancing is another main problem.

As for the overhang of high-er-priced homes, developers have pointed to the Bumiputera quota.

Land is a state matter. Th e Bu-miputera quota varies not just from state to state, but also between zones in a state. For instance, in Melaka, the city centre has a quota of 40% while outside the city, it is 60%.

In Selangor, the quota can go up to as high as 70% while in Johor, it is 40%. In KL, it is 30%.

Bumiputera units that are un-sold can be released from the quo-ta – meaning they can be sold to non-Bumiputeras – but the process varies from state to state, entailing diff ering durations and payments to the respective states.

Clearly, the implementation of a structured and transparent re-lease mechanism for all Bumiput-era units would help reduce the overhang of the upper-mid and high-end homes.

There must be a will to clear the overhang units – and the an-swer does not lie with just reduc-ing supply.

Au Foong Yee is the managing di-rector of The Edge Communications and The Edge Property. She was formerly the executive editor of Property and Retailing at The Edge Malaysia. She can be contacted at [email protected]

BY AU FO O N G Y E EMalaysian residential property overhang as at 2015

Property price range Overhang units (value)

393 (RM14.93 mil)

1,354 (RM109.2 mil)

655 (RM86.13 mil)

901 (RM56.45 mil)

1,013 (RM239.36 mil)

860 (RM394.53 mil)

1,246 (RM451.14 mil)

860 (RM394.53 mil)

2,190 (RM1.52 bil)

1,387 (RM2.55 bil)

RM50,000 or less

RM50,001-RM100,000

RM100,001-RM150,000

RM150,001-RM200,000

RM200,001-RM250,000

RM250,001-RM300,000

RM300,001-RM400,000

RM400,001-RM500,000

RM500,001-RM1 mil

Over RM1 mil

SOURCE: NAPIC

NEWSTEP 4 FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY

Opportunities in a volatile market

1

2

KUALA LUMPUR: UEM Sunrise Bhd will launch Melia Residences, the fi rst freehold landed strata res-idential development in Gerbang Nusajaya, Iskandar Malaysia, this Saturday with selling prices from RM596,000 to RM1.5 million.

Th e company’s chief operating officer (commercial) Raymond Cheah said phase one of Melia Residences comprises 125 units of 2-storey terraced houses with built-up sizes ranging from 2,006 sq ft to 2,594 sq ft.

“Currently, there are 901 inter-ested buyers who have registered with us. I am confi dent all the units in the fi rst phase will be sold before we launch the second phase in June,” he told reporters during the press conference of UEM Sunrise’s mar-keting campaign “Signature Selec-tion – Rendezvous in France 2016”.

Phase two of Melia Residences consists of 150 units of 2-storey terraced houses.

Th e fi rst and second phases of Melia Residences have a gross de-velopment value (GDV) of RM196 million and are estimated to be completed by 2019.

UEM Sunrise to unveil Melia Residences this weekend

BY TA N A I L E N G

KENNY YAP / TheEdgeProperty.com PATRICK GOH / TheEdgeProperty.com SUHAIMI YUSUF / TheEdgeProperty.com

HARIS HASSAN / TheEdgeProperty.com

UEM SUNRISE

SATURDAY, APRIL 30, 2016, 9AM SHARP – 1PMSUNWAY PUTRA HOTEL, KUALA LUMPUR

Riding out the storm:PITFALLSTO AVOID

SUPPORTED BY

PRESENTED BY

Th eEdgeProperty.com

BY C I T Y & C O U N T RY

The Malaysian property market has been on a downward slide for the past two years or so. With an uncertain economy and few signs of the property market bouncing back in the near term, are there still opportunities for investors?

Sarena Cheah, Sunway Bhd managing director of the Proper-ty Development Division for Ma-laysia and Singapore, believes that property investments have always proved to be resilient across eco-nomic cycles and there will still be pockets of opportunities even in weak market conditions.

“Properties within mature lo-cations that are well served and connected will remain in demand. The completion of new transport infrastructure will add to the ex-citement of these locations,” says Cheah.

Sarah Lim, Kenanga Investment Bank Bhd head of equity research, takes a more cautious view of the property sector. She notes that fundamental data reveals that it is going through some structur-al adjustments that may change the traditional property cycle al-together.

“Th e issues involved extend into the banking system,” says Lim.

She adds that there has been talk that the incoming Bank Negara Malaysia governor will introduce measures to boost the property sector within the fi rst six to nine

months of the appointment to re-vive the market.

Th e Real Estate and Housing Developers’ Association Malay-sia and other property developers have also continued to campaign to bring back the Developers Inter-est Bearing Scheme for fi rst-time house buyers, says Lim.

“However, it appears that there are a lot of concerns about whether it will aff ect the banking system’s future asset quality or it will in-crease the default rate down the road if these loan applicants do not have the right credit standing to start off with.

“There is no easy monetary solution in sight and measures

for fi rst-time homebuyers may not impact developers’ sales mean-ingfully due to the current rebates and easy financing schemes. It may present more future risks for the banking system,” opines Lim.

If other options prove to be too volatile, investors may want to look at investing in real estate invest-ment trusts (REITs), says Axis REIT Managers Bhd CEO and fi nance director Leong Kit May.

A REIT is a defensive invest-ment option in a volatile market due to its predictability in income distribution and the potential cap-ital appreciation.

“This is because Malaysian REITs are required to distribute

at least 90% of their distributable income to enjoy tax exemption on their income,” says Leong.

She adds that investing in REITs also allows investors access to a portfolio of quality real estate while benefi ting from a favoura-ble tax regime and a high level of governance.

Cheah, Lim and Leong will dis-cuss these matters at the panel dis-cussion, “Where to put your money — real estate, stocks or REITs?” at The Edge Investment Forum on Real Estate 2016. It will be held at Sunway Putra Hotel in Kuala Lum-pur on April 30. Th e theme of the forum is “Riding out the storm: Pitfalls to avoid”.

Lim: The issues involved extend into the banking system

Cheah: Properties within mature locations that are well served and connected will remain in demand

Leong says investing in REITs allows investors access to a portfolio of quality real estate

1. Cheah (left) and UEM Sunrise Bhd chief fi nancial offi cer Azhar Othman launching the ‘Signature Selection – Rendezvous in France 2016’ campaign

2. An artist’s impression of Melia Residences in Gerbang Nusajaya

France 2016” campaign, where buy-ers will have an opportunity to par-ticipate in a lucky draw – 28 winners will go to France to watch the quar-ter-fi nal, semi-fi nal or grand fi nal matches of European Football 2016.

Th e other properties of the “Sig-nature Selection – Rendezvous in France 2016” campaign include Schubert, Schumann 2, Beethoven and Verdi “eco-dominiums” high-rise homes at Symphony Hills in Cyberjaya; Begonia in Bangi Serene Heights; Residensi 22; Residensi Sefi na as well as 11 Mont’Kiara in Kuala Lumpur.

“In Southern Malaysia, we have Noble Park, Inspiration Park and Residensi Ledang – all located in East Ledang, Estuari Gardens, Tee-ga and Almas in Puteri Harbour as well as Twin Villas of Nusa Idaman,” he added.

The lucky draw will be held on June 18, 2016 at Publika Shopping Gallery in Solaris Dutamas, Kua-la Lumpur.

“Th e campaign runs from April 1 to May 31. Currently, there are 60 purchasers participating in the campaign; we anticipate more participants after today’s offi cial launch,” Cheah added.

“Th e 73.64-acre Melia Residences will off er 625 units with three layout selections. Th e third and fourth phas-es will be unveiled next year,” he said.

Cheah noted that the devel-opment is about 800m from the proposed High Speed Rail (HSR) station, which could be the main catalyst of capital appreciation for the property market in Gerbang Nusajaya.

Melia Residences is one of the projects under UEM Sunrise’s “Sig-nature Selection – Rendezvous in

TEP 5FRIDAY APRIL 22, 2016 • THEED G E FINANCIAL DAILY

JPPH aims to introduce rental data by October this year

PUTRAJAYA: Th e Valuation and Property Ser-vices Department (JPPH) aims to provide rental data on a subscription basis by October this year, said director general Datuk Faizan Abdul Rahman.

The department aims to provide rental data for all kinds of properties – starting with the Klang Valley – which the market “is in dire need of”, he told Th eEdgeProperty.com in an interview.

“Rental yield is the rental amount divided by capital value. Without the rental amount, we cannot produce rental yield for investors. With this rental data, we will give a fair valua-tion of the rental value from our side,” he said.

JPPH had initially aimed to roll out the

SHAHRIN YAHYA / TheEdgeProperty.com

Putra World Trade Centre (PWTC), Kuala Lumpur from April 26 to 28.

One of the biggest events on The National Institute of Valuation’s (INSPEN) calendar is undoubtedly The International Real Estate Research Symposium 2016 (IRERS), a bien-nial event that aims to gather real estate researchers from around the world to share their latest research with each other and pro-fessionals in the real estate industry.

Into its eighth edition, the symposium themed “Leading the Way: Innovation in Real Estate” will be held at the Putra World Trade Centre (PWTC), Kuala Lumpur from April 26 to 28.

Topics include valuation and pricing; real estate development and management; real estate market analysis and investment; in-dustry cycles; land use planning; intellectual properties; and ICT in real estate.

Meanwhile, researchers – including recipi-ents of the National Real Estate Research Fund – can disseminate their fi ndings there. There will also be three plenary sessions, where about 80 papers are expected to be presented in three parallel sessions.

The symposium is being held in collab-oration with the Royal Institution of Survey-ors Malaysia (RISM); University of Western Sydney, Australia; University of Ulster, UK; Queensland University of Technology, Aus-tralia; and University of Reading, Malaysia. TheEdgeProperty.com is the media partner.

IRERS brings academics and industry players together

BY N ATA L I E K H O O

Faizan: With this rental data, we will give a fair valuation of the rental value from our side.

data by 3Q2015, covering Johor, Penang and Selangor. Howev-er, it faced problems with the quality of the data it received.

Th e department’s source of rental data are stamped ten-ancy agreements from the In-land Revenue Board of Malaysia (LHDN). Th e agreements are supposed to be fi lled up by the property owners – through the PDS 49(A) form, either manually or online via the Stamp Assessment and Payment System (STAMPS).

However, the manual forms were only re-cently updated to include the information that JPPH needs to capture, while JPPH and LHDN are updating STAMPS.

On the other hand, the forms are sometimes incorrectly fi lled. Owners may be reluctant to disclose certain information, or third parties such as clerks and runners who are employed to fi ll up these forms do not have enough in-formation on the property.

Th e information that JPPH needs diff ers according to property type. “For a 2-storey ter-raced house, we need basic information such as how much is the rental and the address of the house. We don’t need the built-up of the house or the land size.”

However, for properties such as retail lots, JPPH needs to capture information such as the size and level of the lots, due to the large variance between such properties.

JPPH is now working on getting the ba-sic data for retail lots out, before it addresses alternative rental agreements such as prof-it-sharing models.

Faizan said the government is also working on a number of issues related to the issuance of vacant possession (VP) and strata titles to speed up transactions and, consequently, the output of data.

“In Malaysia, the strata title is not issued upon VP. So a transaction that was performed 10 years ago may only be issued the strata title today,” said Faizan.

As no stamp duty is charged until the strata title is issued for primary sales from develop-ers, this causes delays in JPPH collecting data from LHDN.

“With the new Strata Management Act implemented by the Housing Ministry that came into operation in June last year, we hope that eventually the stamp duty would not be based on the title [such as in Singa-pore], but on the agreement instead. Espe-cially in an active market, we are behind time,” said Faizan.

NEWS

PENTHOUSESFOR RM1 MILLION

AND BELOW

BY R A C H E L C H E W

Do you think that owning a penthouse is out of your league? Well, we found some of these units for less than RM1 million – in the Klang Valley no less.

A penthouse is often a luxury apart-ment unit on the top-most fl oor of an

apartment or condominium building. It often comes with larger built-up sizes than the standard units in a project. A common feature of penthouses is the panoramic views they off er.

It is believed that the idea of a penthouseapartment was born in the 1920s in the US when economic growth brought on a construction boom to New York City. Th e demand for luxury living in urban centres led to the creation of theseexclusive units on the top floor or floors ofapartment buildings.

One of the earliest penthouses in the city was publisher Conde Nast’s duplex penthouse at 1040 Park Avenue, where in 1924 the building’s roofspaces were transformed into a grand duplex for Nast.

According to PA International Property Consultants managing director Jerome Hong, penthouses usually exude a sense of exclusivity, luxury, sophistication and style.

“Features that diff erentiate penthouses from the majority of units in the condominium build-ing may include the fact that such units are very limited in number within a development and are usually set on the highest fl oors with views of the surrounding skyline,” Hong says.

Penthouses may come as duplexes or triplexes, with luxury fi nishing, fi ttings, their own roof ter-races, and maybe even their own private entrances or lift lobbies.

We have gone through some of the current list-ings of penthouses for sale in the Klang Valley on Th eEdgeProperty.com and noted that it is possible to own a penthouse unit for less than RM1 million.

There was even one 1,500 sq ft unit going for RM498,000 at Tiara Duta in the more affordable Selangor side of Ampang. Besides, the condo block only has fi ve storeys so it does not off er much of a view.

So, if you are thinking of a penthouse to call your own, here are seven random picks from a number of penthouse listings on Th eEdgeProperty.com (as at April 12) going for RM1 million and below within the Klang Valley.

Get your own slice of the ‘high’ life(As listed on TheEdgeProperty.com as at April 12, 2016)

NEWSTEP 8 FRIDAY APRIL 22, 2016 • THEEDGE FINANCIAL DAILY

BY R A C H E L C H E W A N D

N ATA L I E K H O O

Property market dips in 2015, expected to stabilise

The property market in 2015 at a glance

In line with expectations, Malaysia’s property market in 2015 did not perform as well as it did in 2014.

According to the Prop-erty Market Report 2015 by

National Property Informa-tion Centre (Napic) released on Tuesday, there were 362,105 trans-actions worth RM149.9 billion recorded in 2015, indicating a decline of 5.7% in volume and 8% in value.

Residential remained the big-gest contributor to property trans-

The overall property market performanceVolume and value of transactions

New launch VS sold performance

Price movementMalaysian HousePrice Index

Loan approval rate

Sub-sector contributionto transactions

Residential market performanceVolume and value of transactions

2011 2012 2013 2014 2015 2011 2012 2013 2014 2015

Residential65.2%

Residential unsold units status

As at4Q15:

227 points(+5.8% annually)

95,161.82(50.9%)

186,790.70

92,834.05(47.9%)

193,743.44

121,000.60(49.2%)

245,903.78

121,091.53(52.9%)

228,944.37

103,412.12(50.2%)

206,031.79

2011 2012 2013 2014 2015

Loanapplications

Loanapprovals

Total transactions:362,105

Agricultural18.4%

Unsold:41,184

Sold:29,089

Units launched:70,273

Volume Value (RM billion)

Overhang

Under construction

Not constructed

Volume Value (RM billion)

138

143

152

163

150430,403

457,520

381,130

384,060

362,105

269,789

272,669

246,225

247,251

235,967

62

68

72

82

73

14,38212,571

14,306 13,471

10,704

19,607

15,091

13,5479,733

11,316

40,175

50,491

52,028

53,476

68,760

2011 2012 2013 2014 2015

Industrial1.9%

Commercial8.8%

Developmentland 5.7%

SOURCE: PROPERTY MARKET REPORT 2015

actions last year despite a slight drop in volume – by 4.6% to 65.2% – and value – by 10.5% to 49%.

In terms of new residential launches, 41,184 (58.6%) units out of 70,273 units were unsold in 2015.

Meanwhile, higher overhang units were recorded in 2015. There were 11,316 overhang units worth RM5.9 billion, up by 16.3% in vol-ume and 56% in value.

According to Napic, overhang units are those completed with Certificate of Completion and Compliance or Temporary Cer-tificate of Fitness for Occupation, but remained unsold for more than nine months.

Meanwhile, unsold properties under construction are those with building plan approvals and under construction; and unsold prop-erties not constructed are those with building plan approvals but are not yet constructed. Both will be considered unsold if they re-main unsold for more than nine months after launched.

Deputy Finance Minister Datuk Chua Tee Yong commented that 2015’s performance was due to the poor market sentiment and cooling measures.

“However, cooling measures did help in slowing residential price growth,” Chua noted during

the press conference of the report launch event.

As at 4Q2015, the Malaysian House Price Index stood at 227.5 points, up by 5.8% on an annual basis.

“From 2011 to 2015, the range of residential property price growth was either in the double digits, or high single digit. In 2014, it grew by 7%,” said Chua, attribut-ing this to the cooling measures.

KGV-Lambert Smith Hamp-t o n ( M ) S d n Bh d d i re c t o r Anthony Chua told TheEdgeProp-erty.com that this result has prov-en that cooling measures did help in lowering property prices. “Pric-

es are still growing but not as high as previous years. I think this is good news to serious homebuy-ers. However, I don’t think prices will go down further this year.”

He foresees no significant price changes this year. “The in-dex should remain at this level, if not lower, this year given the current poor sentiment.”

Commenting on the 50.2% high loan rejection rate recorded last year, Chua said the loan rejection rate since 2011 to 2015 ranges be-tween 47.9% and 52.9%.

“Therefore, as 50.2% is within the range, it is in the acceptable level.”

Documents

FRIDAY APRIL 22, 2016 ISSUE 2152/2016 FINANCIAL DAILYtefd.theedgemarkets.com/2016/TEP/20160422gxbg37.pdf · Celcom will not be drawn into a ... 2 FRIDAY APRIL 22, ... ed investors