MONDAY SEPTEMBER 11, 2017 ISSUE 2488/2017 ...tefd.theedgemarkets.com/2017/TEP/20170911m71j12.pdfGeneral Manager Kingston Low (012) 278 5540 Senior Sales Managers Fong Lai Kuan (012)

FBM KLCI 1779.90 3.08 KLCI FUTURES 1771.50 0.50 STI 3228.56 0.50 RM/USD 4.1920 CPO RM2766.00 16.00 OIL US$53.78 0.71 GOLD US$1347.30 0.80

Zahid: Aung San Suu Kyi should use her human rights fi ghter status to save Rohingya PA G E 2

FINANCIALDAILY

w w w . t h e e d g e m a r k e t s . c o m

M A K E B E T T E RDECISIONS

PP 9974/08/2013 (032820)PENINSULAR MALAYSIA RM1.50

MONDAY SEPTEMBER 11, 2017 ISSUE 2488/2017

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



1 0 H O M E

1 7 F O C U S

2 1 L I VE I T !

IBS adoption still low — survey

Hektar REIT banks on turnover lease

Toyo Ink’s hunt for partners in power venture at tail end

GDP fi gures hide pockets of poverty — economist

Booming Myanmar gets a crash course in capitalism

Th is US$208,800 convertible is your next step after a Porsche 911

Hai-O set for further growth3 H O M E B U S I N E S S

Tourist arrivals remain flat despite WEAK RINGGIT

Statistics show a 0.9% y-o-y drop for the January-May period. Billy Toh has the story on Page 3.



1 0 H OOO M EM EM EM EM EE

1 7 F O C U S



GDP figures hide fipockets of poverty — economist


w a SSSSttttttaaaaaaaattttttttiiiiiiiisssssssttttttttiiiiiiiiccccss shhhowp 0.9% y-o-y dropy-for the January

May period.May periodBilly Toh has the story on Page 3.

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FBM KLCI 1779.90 3.08 KLCI FUTURES 1771.50 0.50 STI 3228.56 0.50 RM/USD 4.1920 CPO RM2766.00 16.00 OIL US$53.78 0.71 GOLD US$1347.30 0.80

Zahid: Aung San Suu Kyi should use her human rights fi ghter status to save Rohingya PA G E 2

FINANCIALFINANCIALDAILYDAILY

w w w . t h e e d g e m a r k e t s . c o m

M A K E B E T T E RDECISIONS

PP 9974/08/2013 (032820)PENINSULAR MALAYSIA RM1.50

MONDAY SEPTEMBER 11, 2017 ISSUE 2488/2017




1 0 H O M E

1 7 F O C U S

2 1 L I VE I T !

IBS adoption still low — survey



GDP fi gures hide pockets of poverty — economist


Th is US$208,800 convertible is your next step after a Porsche 911

Hai-O set for further growth3 H O M E B U S I N E S S

Tourist arrivals remain flat despite WEAK RINGGIT

Statistics show a 0.9% y-o-y drop for the January-May period. Billy Toh has the story on Page 3.

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2 MONDAY SEPTEMBER 11, 2017 • THEEDGE FINANCIAL DAILY

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AmanahRaya gains a Vista, and Vizione gets approval

BY LU C O L I N G A

BY D M I T RY Z H D A N N I KO V

& R O N B O U S S O

Asean-Korea FTA tradeincreases by 92.3%KUALA LUMPUR: Bilateral trade between Asean and South Korea has increased by 92.3% to US$118.84 billion (RM499.13 billion) in 2016 from US$61.81 billion in 2006 since the Ase-an-Korea Free Trade Area (Ase-an-Korea FTA) took effect in 2007. Economic ministers from Asean and South Korea met last Friday in Pasay City, the Philip-pines, for the 14th AEM-ROK Consultations, co-chaired by the Philippines’ secretary of trade and industry Ramon M Lopez and South Korea Trade Minister Kim Hyun-chong. Th e ministers reaffi rmed their commitment to strengthen economic coopera-tion, the international trade and industry ministry said in a state-ment yesterday. — Bernama

171 Malaysian SMEs at 14th CaexpoNANNING: Some 171 small and medium enterprises (SMEs) will showcase their products and services at the 14th Chi-na-Asean Expo (Caexpo), which will kick off tomorrow, said Ma-laysia External Trade Develop-ment Corp (Matrade). Caexpo, co-sponsored by China and the 10 Asean countries, is aimed at promoting cooperation and common development of China and Asean. Martade director of China Unit Ong Yew Chee said 60% of the participating compa-nies comprised new companies, given the burgeoning demand and strong purchasing power of Chinese consumers last year. He said the companies were main-ly from the food and beverages, lifestyle, healthcare and services sectors. — Bernama

Up to fi ve million AirAsia seats up for grabsKUALA LUMPUR: Up to fi ve mil-lion seats are on off er on airasia.com and the AirAsia mobile app until Sunday for travel between March 1, 2018 and November 21, 2018. AirAsia, in a statement, said guests can enjoy fares from as low as RM0 to destinations from Kuala Lumpur to Penang, Johor Baru, Brunei, Lombok, Shantou, Kolkata, Phnom Penh, Pattaya, Davao and many more on AirA-sia fl ights, as well as from RM199 from Kuala Lumpur to Taipei, Shanghai, Sydney and others on AirAsia X fl ights. Guests travel-ling on AirAsia X can also expe-rience its award-winning Premi-um Flatbed from RM699 from Kuala Lumpur to Perth, Seoul, Osaka, Taipei and other desti-nations. — Bernama

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Suu Kyi should save RohingyaZahid: She should use her human rights fi ghter status

PUTRAJAYA: Myanmar leader Aung San Suu Kyi has been urged to use her experience in fi ghting for de-mocracy and human rights to stop the atrocities by the country’s mil-itary against the ethnic Rohingya.

Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said as a leader who was once award-ed the Nobel Peace Prize, Suu Kyi should no longer remain silent and treat the recognition as something meaningless to the world.

“If in the past she could fi ght for democracy and liberation until her struggles were recognised by the world, she should now translate that into action on the Rohingya issue which is happening in her own country.

“Th is world recognition for her should be accompanied by appro-priate action, and not just be a pup-pet for the world to see,” Ahmad Zahid said this at the closing of the Merdeka Rides 2017 organised by the Superbikers Association of Malaysia (SAM) here yesterday. Th e event was also participated by riders from Indonesia, Th ailand, Singapore and Brunei.

He said that while other coun-tries were showing concern over the plight of the Rohingya through the various forms of aid given, the

LONDON: When oil giant Saudi Ar-amco discloses its fi nancials for the fi rst time next year, it must either surprise investors with world record profi ts or reduce its aspirations for a US$2 trillion (RM8.4 trillion) valua-tion in its initial public off ering (IPO).

Investors have long debated whether Aramco could be valued anywhere close to US$2 trillion, the fi gure suggested by Saudi Crown Prince Mohammed bin Salman, who wants to raise cash through the IPO to fi nance investments aimed at helping wean the world’s biggest oil exporting nation off dependen-cy on crude.

Based on Aramco’s oil reserves of 261 billion barrels and a valuation of US$7 to US$8 per barrel in line with recent industry acquisitions — such as Total’s purchase of Maersk’s oil assets — Aramco warrants close to the US$2 trillion valuation.

But that is not the only metric for an energy fi rm’s worth. By other measures, Aramco’s target valua-tion may be challenging.

Most other metrics for the world’s largest oil-producing com-pany are simply not known and will not be disclosed until Aramco publishes fi nancial results before the planned IPO next year.

Yet a simple calculation using globally accepted ratios for Ara-mco’s peers — enterprise value versus earnings before interest, tax-es, depreciation and amortisation (Ebitda) — shows the Saudi fi rm has to report Ebitda in the region of US$130 billion to achieve a US$2 trillion valuation.

Such an Ebitda fi gure would be a global fi rst. No fi rm in any in-dustry has reported Ebitda above US$100 billion.

By comparison, Apple, the tech-nology giant and the world’s most valuable listed fi rm that is worth more than US$830 billion, reported Ebitda of US$82 billion in 2015, ac-cording to Th omson Reuters Eikon data. — Reuters

A Saudi Aramco surprise next year?

NEW YORK: A slump in Gold-man Sachs’ long-dominant trad-ing business has sharpened ques-tions about the Wall Street kingpin’s strategy as technological change disrupts the fi nance industry.

“Goldman Sachs has run out of steam,” said Richard Bove, analyst

Slumping Goldman Sachs faces questions about running out of steamat Vertical Research. “It needs inspi-ration. It needs new management, new businesses, new activities.”

Long associated with the super rich and powerful, Goldman Sachs has been involved in complex and sometimes controversial transac-tions and dealings.

Its global alumni include Europe-an Central Bank head Mario Draghi

and several current White House of-fi cials, including Treasury Secretary Steven Mnuchin and National Eco-nomic Council director Gary Cohn.

Gregori Volokhine, president of Meeschaert Capital markets, said the 148-year-old fi rm “must be reinvented”.

Goldman reported an unprece-dented 40% plunge in revenues for

trading in fi xed income, commod-ities and currencies in the second quarter, a performance that lagged that of rivals JPMorgan Chase and Morgan Stanley.

Bove wants the fi rm to acknowl-edge that many high-risk transac-tions that once boosted results are no longer bankable and it sees new opportunities ahead. — AFP

international community was also waiting for the same action from the Myanmar leader.

Suu Kyi needed to translate the feelings shared by the world by do-ing something, which should rightly be demonstrated by her as a Nobel Peace Prize winner, he added.

Suu Kyi received the Nobel Peace Prize in 1991 when she was under house arrest for going against the regime of Myanmar’s military junta in her fi ght for democracy and hu-man rights in her country.

Ahmad Zahid also urged former United Nations secretary-general Kofi Annan to play a bigger role in calling on the other international organisations to show concern for the fate of the ethnic Rohingya.

He said religious and racial dif-ferences should be no obstacle and, in fact, international organisations and the world community should be made aware of their role in as-sisting in the name of humanity.

At the event, Ahmad Zahid also launched the Rohingya Humanitar-ian Fund drive by SAM and, within eight minutes, a sum of RM7,838 was raised. — Bernama

Suu Kyi received the Nobel Peace Prize in 1991 when she was under house arrest for going against the regime of Myanmar’s military junta in her fi ght for democracy and human rights in her country. Photo by AFP

See related stories on Pages 16 & 17

See related story on Page 12

H O M E B U S I N E S S 3MONDAY SEPTEMBER 11, 2017 • THEED G E FINANCIAL DAILY

Tourist arrivals remain fl at despite weak ringgitStatistics show a 0.9% y-o-y drop for the January-May period

BY B I L LY TO H

BY W O N G E E L I N

KUALA LUMPUR: Much has been talked about how the weaker ringgit will draw more tourists to the coun-try, but the statistics do not seem to refl ect this.

Th e overall tourist arrivals, how-ever, slipped lower by 0.9% year-on-year (y-o-y) to 10.82 million visitors compared with a year ago, according to Tourism Malaysia.

One saving grace is that the num-ber of tourists coming from China has gone up by 7.8% in the fi rst fi ve months of the year.

To put things into perspective, the tourist arrivals so far is also lower by 0.61% than the fi ve-year average of tourist arrivals in the fi rst fi ve months of the year.

Another data to ponder is that while overall visitors from Asean countries to Malaysia have increased by 0.62% to 8.22 million visitors in January to May, fi ve out of nine Asean countries have seen a decline, includ-ing Singapore, Indonesia, the Phil-ippines, Cambodia and Myanmar. Tourist arrivals from Brunei saw the highest growth among Asean coun-

tries, which saw an increase of 37.7% to 741,420 tourists.

Tourism was the third largest con-tributor to the Malaysian economy in 2016 and is expected to remain so for the year. Lacklustre statistics on tourist arrivals may not augur well.

Granted, the KL2017 Southeast Asian Games (SEA Games), which recently concluded, was only held in August, the latest offi cial data re-leased by Tourism Malaysia with the cooperation of immigration depart-ment only covers until the end of May this year.

Tourism and Culture Minister Da-tuk Seri Mohamed Nazri Abdul Aziz had reportedly said that 700,000 for-eign tourist arrivals were expected in conjunction with the SEA Games.

Julia Goh, an economist with UOB Malaysia, told Th e Edge Financial Daily that the lagging data provid-ed by Tourism Malaysia might not be refl ective of the current situation especially with tourist arrivals ex-pected to increase in the second half of this year.

“If you look at the data released by Malaysia Airports [Holdings Bhd] (MAHB) on passenger traffi c in the

Tourist arrivals (Jan-May)

Source: Tourism Malaysia

20172016201520142013

(mil)

9.8

10

10.2

10.4

10.6

10.8

11

11.2

11.4

11.6

11.8

20162015201420132012

Advertising and promotion budget for Tourism and Culture Ministry

(RM mil)

Source: Tourism Malaysia

0

50

100

150

200

250

300

airports, it shows that international passengers have increased,” Goh said.

According to her, the increase in tourist arrivals is expected, espe-cially given the weak ringgit, which is deemed to be attractive at current levels. Goh pointed out that while the ringgit has strengthened further against the US dollar, it has remained relatively fl at against most currencies in the region.

At the beginning of the year, tourist arrivals were expected to grow this year with 2017 being Asean@50 Year

and as Malaysia played host to the SEA Games and Asean Para Games. Th e data released by MAHB also saw that passenger traffi c in the inter-national sector has grown by 14.8% y-o-y to 28 million for the period of January to July this year, with about 13.8 million to Asean destinations while the remaining 14.2 million to non-Asean destinations.

An analyst who covered the avi-ation, airport and tourism sectors, concluded that the data could be an indication that more Malaysians are

travelling abroad despite the weak ringgit, which in turn helped to lift the passenger traffi c in the interna-tional sector.

“If you look at some of the hotel operators such as Shangri-La, you could see a drop in occupancy rate in Kuala Lumpur and Penang. We will still need to wait for the offi cial data to gauge how the tourism sector will fare this year,” he said.

Just recently, the Malaysia Mara-thon Kuala Lumpur 2017, which had targeted to attract at least 5,000 par-ticipants from China, was scrapped after the organisers failed to sign up the minimum number of China par-ticipants required.

A fund manager, who is positive that the weak ringgit would help to boost the prospects of the aviation, airport and leisure industries, said that the tourism tax is more likely to hurt the budget hotel operators.

According to him, Genting Ma-laysia Bhd, KLCCP Stapled Group, AirAsia Bhd and MAHB are some of the companies listed on the stock exchange that are viewed to benefi t from the increase in tourist arrivals in the second half of this year.

KUALA LUMPUR: Strong earnings growth in Hai-O Enterprise Bhd has helped lift its share price to an all-time high. With its earnings expected to rise further, analysts remain positive about the wellness and multilevel marketing (MLM) group’s growth and stock price.

Upon its listing in 1996, the counter generally hovered around the RM1.50 level in subsequent years and only managed to rise to as high as RM2.03 in March 2010. However, in August 2016, the price surged beyond that level and thereafter maintained its upward trajectory, reaching an all-time high of RM4.51 last Friday.

Over the past 12 months, Hai-O’s share price has more than doubled, bringing its market capitalisation to RM1.31 billion.

“Basically, we’re quite positive on consumer stocks. Th ere is an indica-tion that consumption is coming back. Th ere is a sign of recovery,” said a fund manager who declined to be named.

Th e Malaysian Institute of Eco-nomic Research’s Consumer Sen-timent Index (CSI) has been rising gradually for the past three quarters from 69.8 points to 80.7. However, it is still below the optimism threshold level of 100 points.

“For Hai-O, it has in the past few quarters showed good development,” the fund manager told Th e Edge Fi-nancial Daily via the phone. “Th eir

Hai-O set for further growthstrategy to focus on the halal market is a good strategy, compared with oth-er multilevel marketing companies; especially in Malaysia where the ma-jority of the people are bumiputera,”

He said Hai-O also has a resilient growth in terms of distributors as well as membership. And the change in product strategy is showing good growth in earnings.

“We think that there is still strong earnings growth in the quarters to come. We still see some room [to grow],” he said.

Th e fund manager highlighted that Hai-O’s share price is driven by the strong earnings growth. When asked if now is a good time for investors to buy the stock, he said so long as the earnings are growing, he sees no rea-son to not invest in Hai-O.

An analyst with a local research house said that compared with its peer Amway (M) Holdings Bhd, Hai-O has more room to grow as the goods from its MLM division are more aff ordable.

He added that the cost of goods for its MLM division is mainly denomi-nated in ringgit, while Amway’s is in US dollars. Th us, the strengthening ringgit is less likely to impact on Hai-O’s earnings in the MLM division.

However, the analyst is of view that both Hai-O and Amway are “pretty much the same”.

An analyst from TA Securities Sdn Bhd, meanwhile, said consumer sentiment is expected to stay fl at for the rest of 2017. However, it is seen

RM

1

2

3

4

5

Aug 17, 2016 Sept 8, 2017

Hai-O Enterprise Bhd

RM4.51

FY17FY16FY15

Note: FYE April 30

FY14FY13

Hai-O Enterprise Bhd’s net profit and revenue

RM mil

0

100

200

300

400

500

Net profit Revenue

47

.15

40

.27

29

.76

36

.34

59

.26

26

6.5

3

25

3.4

2

23

9.8

5

29

7.6

3 40

3.9

9

to be better in 2018.Given that the cost of living keeps

on increasing, she said it will be a push factor for the people to have MLM as a second job or part-time job.

Moving forward, Hai-O managing director Tan Keng Kang said the group is working on enticing the buzzing young generation to be its distribu-tors and buyers, via the MLM scheme with its consumer products such as food and beverage, fashion, and skin and beauty care products.

Hai-O will be expanding its MLM business by venturing into fashion and beauty care under the brand “In-fi nence”, supported by the expertise of its non-independent and non-execu-tive director Professor Datuk Dr Choo Yeang Keat, more popularly known as Jimmy Choo, said Tan.

“Th e reason why we chose all these products (fashion, beauty and skin care) is because it is easy to duplicate from the overseas market as well,” Tan told Th e Edge Financial Daily. He add-ed that these products are not subject to a lot of rules and regulations as in the case of food supplements.

“Since it is for consumption, the regulations are very strict and it takes a very long time to get the approv-als,” he said. Tan also said Hai-O will continuously look for other innova-tive ways to diversify and will also be constantly launching new products.

Hai-O currently has about 150,000 active distributors and is looking at an additional 5,000 active distributors monthly. Tan also mentioned that the group is exploring overseas markets, in particular Vietnam.

On the impact of the e-commerce business on its MLM business, Tan said it actually complements the group’s existing business. He said that the group has allocated RM10 million for capital expenditure this year to upgrade its warehouse to ca-ter for e-commerce growth.

Currently, e-commerce contrib-utes about 10% of its total revenue.

In addition, Hai-O, which has been registering double-digit growth in both top line and bottom line for the past two fi nancial years, expects the trend to continue for the fi nancial year ending April 30, 2018 (FY18), driven by the MLM division.

For FY17, its net profi t rose 63.07% to RM59.26 million from RM36.34 million a year earlier, with revenue up 35.74% to RM403.99 million from RM297.63 million. Th e net profi t mar-gin stood at 14.67% compared with 12.21% in FY16.

While the group’s wholesale and retail divisions experienced margin-al declines in sales over the past two financial years, Tan is expecting a reversal in FY18.

“As [the] economy improves and consumer sentiment slightly im-proves, the GST (goods and services tax) impact is still there. But, having said that, it has become more accept-able. And people dare to spend more these days,” Tan also said.

Tan added that he is optimistic about the group’s overall performance across all divisions in FY18.

4 H O M E B U S I N E S S MONDAY SEPTEMBER 11, 2017 • THEEDGE FINANCIAL DAILY

Hup Seng Industries looks to new markets for growth

IBS adoption still low — surveyHigh initial cost among hurdles faced by stakeholders

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

BY B I L LY TO HHup Seng Industries’ net profit

(RM mil)

*Financial years ended Dec 31Source: Annual Report

FY

16

FY

15

FY

14

FY

13

FY

12

0

10

20

30

40

50

60

32.5436.74 38.15

54.7349.41

KUALA LUMPUR: While much has been said about the advantages of using the Industrialised Building System (IBS) method for construc-tion, adoption is still slow due to the various hurdles faced by stake-holders in applying the technology.

According to a survey by the Construction Industry Develop-ment Board (CIDB), private sec-tor adoption is still low at around 15%, while government projects are seeing higher adoption at 70%.

“For government projects, there is a requirement for projects that exceed RM10 million to have a min-imum IBS score of 70 which is al-ready in place. Currently about 70% of government projects meet that requirement.

“For the private sector, our sur-vey showed that IBS usage was only at 15% but that was three years ago. We are doing another study now to determine the cur-rent rate of IBS adoption in private sector developments,” said CIDB chief executive offi cer Datuk Ah-mad Asri Abdul Hamid.

Th e slow adoption is defi -nitely not a supply issue, as CIDB said there are over 230 suppliers of IBS components in Malaysia, which are cur-rently operating at only 50% to 60% capacity due to a lack of demand.

Several construction play-ers and property develop-ers have also set up their own facilities and have plans to further ramp up their production capacity despite

the subdued demand.Gamuda Bhd has the capacity

to produce about 3,000 units per year with its current IBS facility in Sepang and plans to set up a second one in Banting by end-2018, which will boost its capacity to 8,000 units per year.

ML Global Bhd has partnered China’s Sany Construction for a RM40 million IBS plant in Nilai with a capacity of 2,000 units per year.

Meanwhile, China’s Country Garden Pacifi c View Sdn Bhd, the developer of the Forest City project, has an IBS facility in Johor with the capacity to produce up to one mil-lion square metres of built-up area.

High initial costsOne of the main headwinds for the wide adoption of IBS is the cost fac-tor. Currently, the usage of IBS in development projects costs more than the conventional method due to a lack of economies of scale.

Hua Yang Bhd chief executive offi cer Ho Wen Yan said the costs are higher in the initial phases of

IBS usage but hopes that it will become lower with

greater adoption.The developer is

actively using IBS, with up to 70% adop-tion rate for its pro-

jects in Ipoh and 20% to 30% adop-tion rate for its high-rise projects in the Klang Valley.

“In the initial phases of adop-tion, the costs are a bit higher. But as we become more familiar and adopt it in more of our projects, then the costs will average down.

“We are working towards that. I think it will become more manage-able in the short term, but currently the cost is about 15% to 20% higher than the conventional construction method,” said Ho.

Th e higher cost associated with the usage of IBS is partly due to logistics cost, as it can be expensive to transport huge components from the factory to the construction site.

IBS manufacturers also have a limited range due to the challenge in transporting huge components, making it expensive and unviable to transport components beyond a 200km radius.

Besides that, Master Builders Association Malaysia (MBAM) president Foo Chek Lee said con-tractors would also need to invest in the proper equipment that can lift these heavy components for as-sembly at the building site, which are quite costly.

“IBS needs heavy lifting equip-ment and what we use now is not sufficient to cater for that. The price of the equipment is also high at present and the government should seriously look into how they can lower the tax on these heavy equipment to encourage the local industry to take up IBS,” said Foo.

No fully integrated suppliersBesides the cost factor, another hurdle for the mass adoption of

IBS is the fragmented supply of components in Malaysia.

For example, Hua Yang currently works with several diff erent sup-pliers to source for components, as currently no single supplier can cater to the developer’s needs.

“We can’t fi nd a full system to adopt yet and we get our compo-nents on a piecemeal basis, like certain systems for the structure and certain systems for mechanical and electrical components and so on,” said Ho.

However, this issue may be ad-dressed in a few years’ time when Country Garden fully completes its IBS plant, which will see a to-tal of six factories at the 417-acre (168.75ha) site in Johor to sup-port the equivalent of six million square metres, potentially making it the largest IBS manufacturer in the world.

Gamuda’s RM350 million IBS facility in Banting will manufacture a wider range of high quality IBS components, with the capacity to produce up to 5,000 units per year.

Amendments to regulations neededAmendments to current building laws are also needed in order to achieve economies of scale, as dif-ferent localities enforce diff erent standards of measurements for the IBS components under the Uniform Building By-Laws (UBBL).

MBAM honorary adviser and past president Datuk Ng Kee Leen said this makes it a hassle as sup-pliers will have to manufacture different components based on the diff ering requirements.

“Every local council has its own UBBL, with diff erent measurement

standards. Since IBS has standard sized panels and components, the authorities will need to change the law to follow one standard.

“If everything follows the same standards of measurement, it will be easier and more economical to build. On the other hand, it will not be economical to manufacture IBS components if diff erent local-ities enforce diff erent standards,” said Ng.

Th is is also part of the reason behind Singapore’s successful adoption of IBS, as the island state’s uniform standards make it easier for manufacturers to meet the re-quirements.

Despite the headwinds faced in mass adoption, stakeholders are hopeful that the government’s move to make it mandatory by 2020 will push demand for IBS construction.

“When IBS is made mandatory, the demand will increase and the factories will supply more. I am sure we will see more factories opening up when the demand picks up.

“If we manage to make it man-datory by 2020, I’m sure the con-struction costs will be lower than the conventional method,” said Ahmad Asri.

MBAM also hopes that the gov-ernment pushes through with the mandatory requirement, but said more government projects are needed to encourage adoption, for greater economies of scale.

“If there are only one or two pro-jects, it’s not economical. If there is demand, there will be an increase in supply. I believe some other companies are also planning for IBS following the government’s announcement of its decision on this,” said Ng.

KUALA LUMPUR: Hup Seng In-dustries Bhd is targeting new mar-kets and new products in search of growth following a moderation in earnings since hitting a peak in 2015, when revenue totalled RM286.86 million and net profi t stood at RM54.73 million.

Executive director Kerk Chian Tung said the group has tapped into the Chinese market with its biscuits and crackers (excluding oat cookies) which are being sold to retailers, distributors and hyper-markets in that country.

She shared with Th e Edge Finan-cial Daily via an email exchange that Hup Seng Industries has many plans to push for new products that can reach more diverse mar-ket segments.

Th e group mentioned in its latest fi nancial result statement that the development of new markets such as China has started to bear fruits.

Kerk said Hup Seng intends to

grow the export contribution by about RM10 million in the next four years.

As at the end of 2016, exports made up about 28% of the group’s revenue or RM79.98 million.

Hup Seng’s revenue for the fi rst six months ended June 30, 2017 (1HFY17) grew 3.5% to RM143.1 million, from RM138.26 million a year earlier as a result of the strong exports to its existing markets and China.

Th is was despite a slight decline in domestic sales of about RM2 mil-lion or 2% due to some problems in the Sabah and Sarawak market. Kerk explained that one of the shoplots belonging to the group’s agents was burnt down while biscuit demand has dropped in the Sabah and Sar-awak market following a reduction in the number of foreign workers there.

She said that while the disrup-tion from the fi re-ravaged shoplot is a one-off problem, it will take some time for the agent to set up the physical shop.

Despite a return to growth tra-jectory for the group’s revenue in 1HFY17 after a slight decline in the previous year, Hup Seng’s net profi t for the period fell by 14.3% to RM20.60 million from RM24.03 million in 1HFY16 as profi t perfor-mance was hurt by the overall rise in raw material prices.

Th is indicated that the net profi t margin has fallen to 14.4%, which

is lower than the group’s fi ve-year average net profi t margin of 15.7%. Th e last time Hup Seng’s net profi t margin was below 14.5% was back in 2012.

Half of the raw materials for the group are made up of palm oil, wheat fl our, milk-based products, chocolate chips and sugar.

Hup Seng has not raised its sell-ing price since 2011, which has led to a squeeze in its margin as seen in its latest fi nancial results. Asked whether the group will increase the prices of its products or repackage to improve the margin of its prod-ucts, Kerk said there are no plans to increase, reprice or repackage its products.

“Cost-efficiency, waste man-agement and maintaining good quality,” she said when asked about the strategies to improve margin.

TA Securities, which has a “buy” call for Hup Seng with a target price of RM1.50 (indicating an upside potential of about 25%), said that despite the absence of price in-

creases, export sales and improved consumer sentiment have sup-ported the group’s top-line growth.

“We believe that bottom-line growth will be supported by de-clining commodity prices like palm oil and sugar in 2HFY17. Note that raw materials account for around 80% of the costs of sales,” said TA Securities analyst Damia Othman in a note.

Another analyst said the strong balance sheet of Hup Seng gives the group an edge amid a tougher period for snack foods and con-fectionery makers. Hup Seng had a cash balance of RM91.5 million and zero borrowings as at June 30, 2017, giving the company suffi -cient buff er through challenging times.

At its latest share price of RM1.19, Hup Seng is trading at a trailing price-earnings ratio of 20.7 times with a dividend yield of about 3.4%. Year to date, the counter has remained relatively fl at with a total return of about 3.4%.

Ho: In the initial phases of adoption, the costs are a bit

higher. But as we become more familiar and adopt it in

more of our projects, then the costs

will average down. Photo by Shahrin Yahya

H O M E B U S I N E S S 5MONDAY SEPTEMBER 11, 2017 • THEED G E FINANCIAL DAILY

Hektar REIT banks on turnover leaseRetail-focused trust manages rental pressures by charging according to tenants’ sales

BY E M I R Z A I N U L & B I L LY TO H

KUALA LUMPUR: Turnover rent structure has helped Hektar Real Estate Investment Trust (Hektar REIT) to manage rental pressures amid a weak retail environment coupled with the overbuilding of malls in the Klang Valley.

Hektar Asset Management Sdn Bhd, the manager of Hektar REIT, said that while the average rental reversion measured on base rent was reduced by 7.1% in the first half of 2017, the lower base rent was covered by turnover rent.

The base rent is a fixed initial rent that has been agreed upon while turnover rent depends on the annual turnover of the retail’s business.

“When the tenants do well and their sales go up, then they can afford to pay more rent as a per-centage of that (increased rev-enue),” said Hektar Asset Man-agement chief executive officer Datuk Hisham Othman,

“This structure also allowed us to monitor the performance of our tenants and by having their sales figures in hand, we can foresee the direction of where the busi-ness is heading,” Hisham told The Edge Financial Daily.

“So, as a landlord, we can take action in advance to find replace-ments or help them with market-ing,” he added, noting that tenants are generally keen with the new rental structure especially in the current macroeconomic climate.

Unlike most REITs, Hektar REIT is a retail-focused invest-ment trust with a diversified port-folio in secondary cities apart from one in the Klang Valley. This has given the management an advantage as they would be able to introduce existing brands in the Klang Valley that have yet to have a presence in these cities.

Subang Parade, which is the only mall under its portfolio sit-uated in the Klang Valley and the main contributor to its earnings, has seen a negative rental rever-sion measured on base rent but a 2% growth in its monthly moving average turnover rent.

Another notable decline in its base rent is the Mahkota Parade in Melaka, which has fallen by 10.8%. However, when measured on its moving average turnover rent, it had grown by 198% as at June 30.

Hisham said Hektar REIT is also at the design stage to revamp Subang Parade to cater to current consumer needs. The renovation is expected to be implemented in stages, with the first stage involv-ing the expansion of its food and beverages (F&B) area, taking ad-vantage of the sector’s resilience amid the current weak economic sentiment.

“We realise that the F&B offer-ings in Subang Parade need to be stepped up, and we have plans for that. The design is almost com-

Apple’s new phone to be called ‘iPhone X’, code leaks showPage 12

*plete and we will tender this out soon,” he said.

The investment for asset en-hancement initiatives (AEI) for Subang Parade will be higher than the RM23 million spent on AEI in Landmark Central, another mall under Hektar REIT’s portfolio, located in Kulim, Kedah.

The AEI on Landmark Central involved massive renovations and reconstruction on every floor, car park, toilets, food court, corridors and walkways. Hashim said that the upgrade has created new net lettable areas covering 20,000 sq ft with 24 new lots, of which 21 has secured tenants.

“The new tenants are doing their fit-out right now, and we’re looking to officially launch the renovated area by the end of De-cember,” Hisham added.

Going forward, Hektar REIT is also looking to introduce edutain-ment components in its malls to appeal to children in an educa-tional sense while having fun.

On threats from the emerging e-commerce business, Hisham said there was a trend of con-vergence between traditional bricks and mortar shops with online retail stores. Thus, as on-line businesses grow rapidly, one way to expand the business is to set up a physical store. Similar-ly, a business that already has its own physical store may want to increase its presence online in order to expand its reach of customers.

“For example, we have a cake shop [tenant] in Subang Parade. Before they set up a shop in Subang Parade, they were doing good busi-ness online. In fact, that was how they became known. When they put up a physical store where cus-tomers can eat at ... their sales is currently one of the best,” he said.

Hektar REIT’s portfolio also comprises Wetex Parade in Muar, Johor and Central Square in Sun-gai Petani, Kedah. These malls

together with Subang Parade, Mahkota Parade and Landmark Central have a combined value of RM1.09 billion.

The soon-to-be completed ac-quisition of 1Segamat Shopping Centre in Segamat, Johor will con-tribute to Hektar REIT’s revenue from 2018 onwards. The acqui-sition was initiated in June last year and the rights issue to fund the acquisition has been report-ed to be oversubscribed by 13%.

Hektar REIT’s portfolio had boasted an average of 93% occu-pancy rate for the past 10 years. Most notably, its Wetex Parade in Muar has enjoyed a 100% oc-cupancy rate. This is partly due to the group’s strategy of focus-ing on malls that are situated in secondary cities which do not entail much competition.

Asked whether there were any other target acquisitions, Hisham

said that while buying oppor-tunities were abundant, Hektar REIT only focused on those with high-yielding potentials.

A fund manager with a local asset management firm told The Edge Financial Daily that while retail malls are still in a challeng-ing environment, Hektar REIT’s dividend yield appears attractive.

“In the assumption [that] wage growth kicked in and the con-sumer sentiment index contin-ued to inch up, it makes sense to take some position now as it has a limited downside,” he said.

Historically, the average dis-tribution yield for Hektar REIT is about 8% since its listing, and has seen its portfolio expand from two malls to six malls, including the 1Segamat Shopping Centre.

Hektar REIT, which last traded at RM1.28, has a trailing 12-month dividend yield of about 8.9%.

Hisham: This structure also allowed us to monitor the performance of our tenants and by having their sales fi gures in hand, we can foresee the direction of where the business is heading. Photo by Shahrin Yahya

6 H O M E B U S I N E S S MONDAY SEPTEMBER 11, 2017 • THEEDGE FINANCIAL DAILY

Toyo Ink’s hunt for partners in power venture at tail endPPA talks on the project expected to be completed by 2QFY19

BY TA N X U E Y I N G &

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

BY K A N G S I E W L I

KUALA LUMPUR: Established in 1979, Toyo Ink Group Bhd clocked in a peak annual revenue of RM110 million for the fi nancial year ended March 31, 2011 (FY11). But its top line has since deteriorated due to tough economic conditions.

“Revenue has been going south, while expenses, salaries and capital investments are going up. Margins are being squeezed. With all things considered, we decided to embark on our diversifi cation programme. Th at was in 2008,” its managing di-rector Steven Song told Th e Edge Fi-nancial Daily in a recent interview.

Those efforts resulted in the printing ink and material manu-facturer signing a memorandum of understanding in August 2013 with the ministry of industry and trade of Vietnam, to develop a 2x1,000 megawatt (MW) coal-fi red ther-mal power plant — Song Hau 2 — in Hau Giang, Vietnam, on a build-operate-transfer basis, with a concession period of 25 years.

Fast forward to January this year, Toyo Ink signed a land lease agree-ment with the Vietnamese authori-ties for the plot on which the power plant will be located.

“Th ere are two ways to expand, either by increasing capital expend-iture [to upgrade or buy machinery] and go into new markets, or diver-sify [into new business segments].

KUALA LUMPUR: New York-listed Boston Scientifi c Corp has com-menced operation at its new man-ufacturing plant in Batu Kawan Industrial Park, Penang. Th is is the 19th global manufacturing facility for the medical device giant, and its fi rst in Asia.

An offi cial opening ceremony will take place in February next year.

According to its vice-president and general manager of manufac-turing and distribution for Malaysia Dave Mitchell, the company has injected “hundreds of million of ringgit” into the new plant, with plans to add as many as 400 new local jobs over two years.

Boston Scientifi c’s investment is great news for Malaysia, which has seen several multinational compa-nies, including Seagate Technology plc, Western Digital Corp, British American Tobacco (Malaysia) Bhd and JT International Bhd, shift their manufacturing operations out of the country to lower-cost countries in recent years.

Boston Scientifi c’s fi rst Asian factory in Penang starts operation

Boston Scientifi c’s new manu-facturing plant spans 375,000 sq ft over a 20-acre (8.1ha) parcel. Th e facility will begin producing two of the company’s medical prod-ucts that are used in cardiovascu-lar and endoscopy this year, before expanding its production to include

the urology product families next year. Boston Scientifi c has more than 13,000 products in its global portfolio.

Mitchell said capacity utilisa-tion of the new plant will be low in the fi rst two years as regulatory approvals may slow the pace at

which new products get to market.“We expect the plant to operate

at 30% of its capacity by 2019. Th at’s because for each product we move in, it might take a year (to get to market),” he told Th e Edge Finan-cial Daily in an interview.

Boston Scientifi c already has a presence in Malaysia since 1997 through its commercial sales offi ce in Kuala Lumpur.

Mitchell said Boston Scientifi c began contemplating an expansion of its global production base two years ago and received the support from its board of directors to set up a manufacturing plant in Penang in December 2015.

“We had identifi ed the need a couple of years ago to add capac-ity to support our global growth. We had then looked around the world and identifi ed what are the appropriate areas for us to invest in,” he recalled.

Th e company ultimately selected the Penang site for its high-skilled workforce, infrastructure to sup-port manufacturing and business friendliness.

“Asia is a signifi cant region for us. Th e company derives almost 20% of its global sales from Asia. As we looked at our global footprint, a natural step was to have a manu-facturing facility in Asia,” Mitchell noted. Th e Asian medical devices market is reportedly valued at over US$6.5 billion (RM27.3 billion).

He added that the new facility will be producing products for the company’s global markets. Present-ly, Boston Scientifi c supplies med-ical technologies to more than 100 countries, out of which 15 are in Asia.

“Our focus here is not only on manufacturing, but to be able to provide value-added services. A natural outgrowth would be re-search and development (R&D) activities,” he added. In Asia, Bos-ton Scientifi c currently operates R&D centres in India and China.

For the year ended Dec 31, 2016 (FY16), Boston Scientifi c achieved a revenue of US$8.39 billion, a 12% growth from the previous year. Th e company is expecting revenue for FY17 to be in a range of US$8.675 billion to US$8.875 billion.

Song: For us, the energy business is more stable than oil and gas. Photo by Sam Fong

Mitchell: Our focus here is not only on manufacturing, but to be able to provide value-added services. A natural outgrowth would be research and development activities.

For us, the energy business is more stable than oil and gas as every household and industry needs elec-tricity,” Song said.

He also acknowledged that once the Vietnam power plant begins op-erations and generates income for the group, the energy segment will become Toyo Ink’s main revenue contributor. But for now, the group can still make do with its reliance on the ink business, owing to its diverse customer base.

Th e group fell into the red with a net loss of RM7.51 million for FY17, against a net profi t of RM1.47 million in FY16, mainly because it recognised provisions for impair-ment of goodwill of some RM8.76 million, and a RM360,000 invest-ment in a subsidiary. Annual reve-nue declined 2% to RM79.7 million from RM81.74 million.

For the fi rst quarter ended June 30 (1QFY18), it recorded a modest net profi t of RM39,000, down 95% year-on-year (y-o-y) — though rev-enue strengthened 2% to RM20.41 million from RM19.93 million — as it registered lower sales profi t.

The group expects its power plant venture to generate an annual revenue of about US$800 million to US$900 million (RM3.36 billion to RM3.78 billion). Based on feasibil-ity studies, the project could easily generate an annual net profi t of US$200 million, Song said.

He said the group is now work-ing on bringing negotiations on the

matter of tariff s to a close. It aims to resolve the “last mile” issue — the power purchasing agreement (PPA) — with which it will secure the Investment Certifi cate (IC) is-sued by Vietnam’s planning and investment ministry and eventually kick-start the project.

“We are at the tail end of fi n-ishing it (PPA). Hopefully, we can complete it by the second quarter of the next [fi nancial] year (2QFY19) … but the earlier the better,” he said.

Still, with an estimated project cost of US$3.45 billion, Song said Toyo Ink “will not have the fi nancial muscle to stomach it (the project)” on its own.

Hence, Toyo Ink is looking at jointly developing the project via a special purpose vehicle (SPV) with a partner, but will retain a 40% equity interest to remain the single largest shareholder of the project.

“We have readied a few equity partners who are willing to join us in undertaking this project,” Song said. He declined to reveal their identities, but said they are ener-gy players.

“Th ere will be a few partners. Since we ventured into energy, we have been speaking to people and they have agreed on the fi nancing part as they have the capabilities ... I think we are ready,” he added. Th e SPV will fund about 25% of the total cost, said Song, while the re-maining 75% will be fi nanced via bank borrowings.

Th at means Toyo Ink will still have to fork out about US$300 mil-lion for the project, said Song. Th e sum, he said, includes some US$70 million development cost it has spent on the project in the past decade for feasibility studies on the power plant. “Th e divestment of the 60% [stake in the SPV] is expected to allow Toyo to recover US$112 million, and the balance needed will be raised via invest-ment bankers’ advisory service,” said Song. A rights issue or bonds issue will be among its choices.

If all goes well and project fi -nancing is secured, Song said Toyo Ink will begin construction of the power plant in 2019. Th e fi rst unit of the power plant is antici-pated to commence op-erations in 2023 — six years from now — with the second unit set to

come on stream six months later.Song said the new energy ven-

ture should be able to provide a steady recurring income to the group over a 25-year concession period.

Song said power plant players in Vietnam get a “major” incentive from the government — income is only taxable from the fi fth year of operation. Subsequently, power plant players will only be taxed up to 10% of the plant’s income.

Meanwhile, Song said the group does not expect to pump capital expenditure (capex) into its ink manufacturing division for the next one to two years, citing a weak eco-nomic environment and competi-

tion as reasons.“Th e cake isn’t growing

bigger when there are so many players. So, it’s cut-throat competition ... for us, we will look at more ways to increase our revenue,” he added.

ST O C KS W I T H M O M E N T U M 7MONDAY SEPTEMBER 11, 2017 • THEED G E FINANCIAL DAILY

DGB ASIA BHD (-ve)

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

0.901.20

611.36-

0.72-

26.90537.90

1.940.03-0.07

*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

MALAYSIA STEEL WORKS (KL) BHD (+ve)

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

0.900.60

11.08-

0.58-

331.71251.29

0.880.66-1.32


M3 TECHNOLOGIES (ASIA) BHD (-ve)

M3 TECHNOLOGIES (ASIA) BHD Valuation score*Fundamental score**TTM P/E (x)TTM PEG (x)P/NAV (x)TTM Dividend yield (%)Market capitalisation (mil)Shares outstanding (ex-treasury) milBeta12-month price range

0.301.65

--

1.13-

61.35584.29

0.790.05-0.11


NEW YORK: At a time when commer-cial property purchases have slowed to a trickle, Manhattan landlords who can’t sell are still getting money out of their buildings — by turning to lenders.

A growing chasm between what buyers are willing to pay and what sellers think their properties are worth has put the brakes on deals. In New York City, trans-actions in the fi rst half of the year tumbled about 50% from the same period in 2016, to US$15.4 billion (RM64.68 billion), the slowest start since 2012, according to re-search fi rm Real Capital Analytics Inc.

At the same time, the market for debt on commercial properties is booming. Investors of all stripes — from banks and insurance companies to hedge funds and private equity fi rms — are plough-ing into real estate loans as an alterna-tive to lower-yielding bonds. Th at’s giv-ing building owners another option to capitalise on gains if their plans to sell don’t work out.

“Sellers have a number in mind, and the market is not there right now,” said Aaron Appel, a managing director of bro-kerage Jones Lang LaSalle Inc. “Owners are pulling out capital” by refi nancing loans instead of fi nding buyers, he said.

In 237 Park Avenue, Walton Street Capital hired a broker in March to sell its

stake in the midtown Manhattan tower, acquired in a partnership with RXR Realty for US$810 million in 2013. After several months of marketing, the Chicago-based fi rm opted instead for US$850 million in loans that value the 21-storey building at more than US$1.3 billion, according to fi nancing documents. Th e owners kept about US$23.4 million.

“Th e basic trend is you have a really strong debt market and a sales market that has hit the pause button while it seeks to fi nd price discovery,” said Scott Rechler, the chief executive offi cer of RXR.

A representative of Walton Street de-clined to comment.

Th e debt market has become so ap-pealing that landlords are looking at mort-gage options while simultaneously put-ting out feelers for buyers, said Rechler, whose company owns US$15 billion of real estate throughout New York, New Jer-sey and Connecticut. Th at’s a departure for Manhattan’s property owners, who in prior years would pursue one track at a time, he said.

Typically, a lender would rather see excess cash put back into the building for renovation and maintenance, rather than into the landlord’s pocket, Levy said. But given how competitive the lending landscape has become, it’s now easier for borrowers to negotiate more-favourable terms. — Bloomberg

RIO DE JANEIRO: Local offi cials in Brazil said last Friday they have asked the govern-ment to off er property deeds to thousands of people living without formal titles in the Amazon rainforest who advocates say are at risk of losing their rights to live on the land. Th e request by the Federal Prose-cutor’s Offi ce in Para state would aff ect an area of 2,500 sq km (965 sq m), part of a region called the Marajo Archipelago that is owned by the federal government.

Th e offi cials said they have been re-questing federal government measures for over a year, without getting any response.

Without formal titles, residents risk losing their homes if the government opts

to sell the land or the industry eyes the property for its own use, advocates have said. Titles also can help residents seeking infrastructure or services.

Land rights are a particularly big issue in Brazil, where the government has said an estimated 100 million people, half of its population, cannot prove full legal ownership of their homes. Many live in sprawling urban slums or favelas, which fi rst developed as squatter communities.

Brazil’s federal government depart-ment handling the rainforest case told the Thomson Reuters Foundation it is identifying areas of land belong to the government to begin the process of pro-viding titles to traditional communities living there. — Reuters

www.theedgemarkets.com

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

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

P RO P E RT Y

Manhattan landlords that can’t fi nd buyers turn to borrowing insteadBY S A R A H M U L H O L L A N D

BY K A R L A M E N D E S

Brazilian offi cials seek land rights for rainforest dwellers at risk

SHARES in DGB Asia Bhd (fundamental: 1.2/3, valuation: 0.9/3) triggered our momentum al-gorithm last Friday for the second time this year.

Th e counter closed unchanged at half a sen, with some 6.8 million shares traded, com-pared with its 200-day average volume of 1.76 million shares.

In July this year, Asia Bioenergy Technolo-gies Bhd (AsiaBio) became a substantial share-holder of DGB Asia after acquiring shares in the latter through a private placement.

AsiaBio’s wholly-owned unit Perfect Power Group Ltd paid RM1.84 million to acquire 48.9 million shares in DGB Asia at 37.62 sen apiece.

Following the acquisition, AsiaBio holds a 9.09% stake in the enlarged share capital of DGB Asia, a software and technology services provider that owns automatic identifi cation and data capture technology.

Th e stock has a 12-month price-earnings ratio of 611.36 times and with a market capi-talisation of RM26.9 million.

SHARES in Malaysia Steel Works (KL) Bhd (Masteel) (fundamental: 0.6/3, valuation: 0.9/3) triggered our momentum algorithm last Friday for the second time this year.

Th e counter closed half a sen higher at RM1.37, with some 15.9 million shares trad-ed, compared with its 200-day average vol-ume of 2.03 million shares.

In June this year, Masteel said it will can-cel the dividend entitlement announced on April 27, which would have seen shareholders

receive a fi nal dividend of 0.85 sen per share for the fi nancial year ended Dec 31, 2016.

Th e steel bar maker said this was because the resolution on the payment of the fi nal div-idend was not passed in its annual general meeting last Th ursday. Only 2.47% of the total voting rights were in favour of the resolution.

Th e stock is trading at a trailing 12-month price-earnings ratio of 11.08 times, and has a market capitalisation of RM353.5 million based on its last traded price.

SHARES in M3 Technologies (Asia) Bhd (fun-damental: 1.65/3, valuation: 0.3/3) triggered our momentum algorithm last Friday for the third time this year.

Th e counter closed half a sen lower, with a market capitalisation of RM58.4 million.

Th ere were some 32.8 million shares trad-ed, compared with its 200-day average of 3.82 million shares.

In April, M3 Technologies announced the shipping of its fi rst batch of 10,000 T-Bike Smart Assistant for Vehicles devices to In-donesia’s largest mobile operator, Telkomsel.

T-Bike is an innovative machine-to-ma-chine initiative that uses an implanted device housing a special SIM card with which vehicle owners can monitor, guide and control their vehicles directly from a smartphone.

Th e shipment of T-Bike devices is part of a two-year master purchase agreement signed between M3 Technologies’ Indonesian sub-sidiary PT Surya Genta Perkasa (Mobiletren) and Telkomsel to buy an estimated 285,000 units of T-Bikes valued at 160.33 billion ru-piah (RM51 million). Th e stock is trading at 1.13 times its book value.

8 B R O K E R S’ C A L L MONDAY SEPTEMBER 11, 2017 • THEEDGE FINANCIAL DAILY

Eversendai Corp Bhd(Sept 8, RM1.06)Maintain sell with an unchanged target price (TP) of 58 sen: We attended Eversendai Corp Bhd’s results briefi ng for its second quar-ter of fi nancial year 2017 (2QFY17). While the profi t margin recovered after a major kitchen-sinking exer-cise in 2016, there are still lingering concerns about the lift boat project and elevated receivables.

Th e management is confi dent of hitting RM2 billion revenue this year, a target set by the company about fi ve years ago. For the fi rst six months of FY17 (1HFY17), it recorded a revenue of RM861.8 million, versus RM862.3 million in 1HFY16. We forecast a revenue of RM1819.6 million for FY17.

Year to date, Eversendai has secured a total of RM1.377 billion of new contracts, of which close to 70% of the new orders came from the Middle East. Th e company is optimistic about securing at least RM2 billion of new jobs in FY17, largely in line with our assump-tion of RM2 billion for FY17. Its outstanding order book declined from RM3.2 billion a quarter ago to RM2.7 billion. Th is would provide earnings visibility to the company for the next two years. It currently has a tender book of RM12 billion, mainly for projects in the Mid-dle East. Th e management sees plenty of opportunities in Saudi Arabia and the United Arab Emir-ates markets.

Eversendai confi dent of hitting RM2b revenue target this year

SCGM Bhd(Sept 8, RM2.97)Reiterate outperform with a high-er target price of RM3.63: SCGM Bhd registered core earnings of RM5.4 million for its fi rst quarter of fi nancial year 2018 (1QFY18), a healthy increase of 12.5% year-on-year (y-o-y).

Th e higher earnings were led mainly by commendable local sales numbers, up 64% y-o-y while export sales increased by 11.8% y-o-y. Th e results were in line with our full-year estimates but they fell below consensus expectations, making only 19.5%. A fi rst inter-im dividend per share of 1.5 sen (versus two sen in 1QFY17) was declared for the quarter.

Th e group registered strong rev-enue growth to RM53.6 million,

7-Eleven Malaysia Holdings Bhd(Sept 8, RM1.45)Reiterate reduce with an un-changed target price (TP) of RM1.00: We attended 7-Eleven Malaysia Holdings Bhd’s analyst briefing for its second quarter of financial year 2017 (2QFY17) along with 10 sell-side analysts. It was chaired by the group’s newly appointed chief executive offi cer (CEO) Ho Meng and deputy CEO Hishamuddin Hassan. Th e briefi ng bore no major surprises and mainly discussed the company’s 2QFY17 results as well as the progress of its “Back to Basics” programme.

To recap, 7-Eleven’s 2QFY17 sales increased 9.8% year-on-year (y-o-y) but core net profi t fell 33% y-o-y to RM10.2 million. During the briefi ng, management shared that the profi t decline was further aggravated by the higher-than-nor-mal inventory write-down (a usual industry practice known as shrink-age) as it removed non-contribut-ing inventories from its stores. Th e group expects this to normalise and even out in the next few quarters.

More notably, the group report-ed its fi rst positive same-store-sales growth (SSSG) of 2.4% y-o-y after eight consecutive quarters of neg-ative growth, which brought its cu-mulative SSSG to -2% y-o-y. Th is was attributed to higher volume growth for its food and beverages and general merchandise products as well as the boost from Hari Raya festivities. Cigarette sales contribu-tion in the fi rst six months of FY17 declined two percentage points to 37% (versus 39%). In addition, av-erage ticket spend per customer for 2QFY17 was healthy and saw

SCGM Bhd FYE APRIL (RM MIL) 2016A 2017A 2018F 2019F 2020F CAGR (%)

Revenue 133.5 178.8 210.5 248.9 288.2 21.2Gross profit 39.1 41.0 48.4 57.2 66.3 14.1Pre-tax profit 25.8 26.6 30.1 34.4 39.8 11.5Core net profit 20.2 23.0 25.6 29.2 33.9 13.8EPS (sen) 10.4 11.9 13.2 15.1 17.5 13.8PER (x) 28.9 25.4 22.8 20.0 17.3 -DPS (sen) 6.8 5.7 7.3 8.3 9.6 -Dividend yield (%) 2.3 1.9 2.4 2.8 3.2 -Sources: Company, PublicInvest Research estimates

7-Eleven aims to be lowest cost operator in industry

7-Eleven Malaysia Holdings Bhd

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

Revenue 2,006 2,103 2,286 2,512 2,752Operating Ebitda 122.9 124.2 121.2 135.1 150.8Net profit 55.80 52.17 45.68 51.45 58.48Core EPS (RM) 0.045 0.042 0.037 0.042 0.047Core EPS growth (%) (2.1) (6.5) (12.4) 12.6 13.7FD core PER (x) 31.17 33.33 38.07 33.80 29.74DPS (RM) 0.051 0.047 0.026 0.029 0.033Dividend yield (%) 3.62 3.33 1.84 2.07 2.35EV/Ebitda (x) 13.17 13.20 13.56 12.08 10.67P/FCFE (x) 37,001 46 62 37 27Net gearing (%) (70.5) (68.6) (60.2) (61.0) (67.7)P/BV (x) 10.22 11.92 10.90 9.94 9.03ROE (%) 27.5 33.0 29.9 30.8 31.8CIMB/consensus EPS (x) 0.90 0.89 0.86Sources: Company data, CIMB forecasts

an uptick of 2.6% y-o-y.Management remains optimis-

tic about its new “Back to Basics” programme and targets to have its combined distribution centre (CDC) break even by end-FY17. It plans to bring down its overall end-to-end supply chain operating costs, particularly for its warehous-ing, staff and transportation over-heads to achieve cost effi ciencies while aiming to increase its CDC charges and allowances to its sup-pliers. It aims to be the lowest cost operator in the industry.

Other key briefi ng highlights in-cluded: i) management will tight-en its promotional campaigns and continuously work with suppliers to maintain its margins as it makes a conscious eff ort to protect profi t-ability; ii) the group will maintain its store expansion programme at 150 stores per annum in FY18; and

iii) management shared that if the 10-cigarette pack is successfully implemented, it will attract more footfall to its stores as consumers would replenish more often.

Our earnings estimates are in-tact. While we commend manage-ment’s eff orts in tightening costs and boosting efficiency, we ad-vocate investors to wait and see how well the new strategy is ex-ecuted. We retain our “reduce” call with a TP of RM1.00, pegged at 24 times FY18 price-earnings ratio (PER), in line with regional peer average. 7-Eleven is current-ly trading at FY17/FY18 PERs of 38 times/34 times versus its mod-est FY17-FY19 earnings per share compound annual growth rate of 4%. Upside risks include fast-er-than-expected execution of its cost-savings programme. — CIMB Research, Sept 7

SCGM displays strong start to FY18

Eversendai Corp Bhd

FYE DEC (RM MIL) 2015 2016 2017F 2018F 2019F

Revenue 1,788.8 1,582.4 1,819.6 2,014.6 1,840.1Ebitda 143.2 (200.4) 221.9 221.2 183.6Dep & amortisation (31.9) (42.1) (82.7) (78.9) (75.5)Net finance cost (32.6) (24.7) (64.2) (55.2) (26.1)PBT 68.2 (267.2) 75.0 87.1 81.9Taxation (6.0) (6.9) (7.5) (8.7) (8.2)MI 6.3 4.8 3.2 3.8 3.5Net profit 55.9 (278.9) 64.2 74.6 70.2Core net profit 47.4 (160.4) 64.2 74.6 70.2GDPS (sen) 0.5 0.0 1.0 1.0 1.0Dividend yield (%) 0.5 0.0 0.9 0.9 0.9Source: TA Securities

up 41.7% y-o-y in 1QFY18 on the back of better plastic packaging product sales from local demand (up 64% y-o-y) while the export sales market also grew (up 11.8%).

Local sales made up 66% during the quarter compared with 57% in 1QFY17. Th ermoform lunch-box sales generated about RM6.8 million (4QFY17: RM8 million, 3QFY17: RM10.3 million, 2QFY17: RM2 million, 1QFY17: RM1.4 mil-lion), helped by increased aware-ness of the regulatory ban on the use of polystyrene as food pack-aging.

Stripping out the exceptional items, the group’s core earnings grew 12.5% y-o-y to RM5.4 million in 1QFY18, mainly driven by im-proved sales from its plastic pack-aging products. Nevertheless, gross

earnings margin further declined from 14.2% to 12.2%, dragged by a substantial 45% increase in op-erating expenses likely due to an increase in resin cost, depreciation of property, plant and equipment,

electricity cost and packaging ma-terials.

Th e ban of polystyrene as takea-way food containers in Kuala Lum-pur has been in eff ect since the start of the month. We believe the

ban could be the next key growth driver of SCGM’s sales in the up-coming quarters as Kuala Lumpur, the capital of Malaysia, has an es-timated population of 1.8 million while the Greater Kuala Lumpur, also known as the Klang Valley, has a big population of 7.3 million. Given that it is the most populous city in Malaysia, the regulatory ban on polystyrene is expected to af-fect many consumption patterns and likely lead to changes in other states as well.

We like the company for its: i) recession-proof business; ii) substantial capacity expansion in the pipeline; and iii) double-dig-it growth in the biodegradable plastic packaging products for the next few years. — PublicInvest Re-search, Sept 8

Th e management updated that the fi rst lift boat was at a tail-end stage with 95% completion while the second lift boat was 60% com-pleted. Th ere is a delay in the com-pletion of fi rst lift boat from 3QFY17 to end-FY17. We understand that the client, Vahana Offshore (S) Pte Ltd, is currently negotiating a charter contract for the lift boat.

No changes to our TP of 58 sen, based on six times calendar year 2018 earnings per share. Th is is af-ter applying two times price-earn-ings ratio (PER) multiple discount to our target PER multiple of eight times. Th e discount is in view of sizeable receivables, which in-creased to RM1.664 billion, to-gether with a relatively high net gearing level of marginally above one times. We maintain “sell” call as we think the share price has run ahead of its fundamentals. We will revisit the target PER when the fi rst lift boat is delivered to the client and the concerns about the receivables and gearing level are allayed. — TA Research, Sept 8

The management sees plenty of

opportunities in Saudi Arabia and the United Arab Emirates

markets.

B R O K E R S’ C A L L 9MONDAY SEPTEMBER 11, 2017 • THEED G E FINANCIAL DAILY

Margins pressures to weigh in on GDEX earningsAuto sector 2Q17

earnings show improvements

GD Express Carrier Bhd

FYE JUNE (RM MIL) 2017A 2018E 2019E

Revenue 250.5 290.5 378.4Ebit 45.9 51.7 67.4PBT 44.5 50.1 65.5Net profit 36.8 40.1 49.1Core net profit 36.8 40.1 49.1Consensus (NP) 46.4 55.2Earnings revision (%) -12.9 -19.0Core EPS (sen) 0.6 0.6 0.8CNP growth (%) 6.9 8.9 22.5DPS (sen) 0.3 0.3 0.3BV/Share (RM) 0.07 0.07 0.07Core PER 112.8 103.7 84.6PBV (x) 9.8 9.6 9.0Net gearing N cash N cash N cashDividend yield (%) 0.4 0.4 0.4Source: Kenanga Research

Automotive sectorMaintain overweight: Th e ringgit strengthened further to RM4.21 to the US dollar (USD) last Th ursday, marking the strongest level reached in the past 10 months. Th is is al-ready close to our in-house eco-nomics team’s year-end target of RM4.20 to USD. Year-to-date (YTD) average rates now stand at RM4.36 to USD and are inching closer to our financial year 2017 forecast (FY17F) assumption of an average RM4.30 to USD for auto stocks un-der coverage.

In comparison, the recently re-ported fi rst half of 2017 (1H17) earn-ings came on the back of still infl ated RM4.39 to USD levels (second quar-ter of 2017 [2Q17]: RM4.33 to USD). Th e current development underpins our bullish stance on the sector and our view that FY17F earnings will be backloaded on the back of more aggressive launches and the ringgit strength in 2H17.

Of the auto players under cover-age, UMW Toyota Motor Sdn Bhd has the largest exposure to USD given that all its imported completely knocked down (CKD) kits and completely built up (CBU) vehicles from Th ailand are transacted in USD. Given low locali-sation rates (of 20%-60%) relative to the national makes (of 80%-95%), we estimate around half of total compo-nent costs are imported.

Tan Chong Motor Holdings Bhd, meanwhile, is estimated to have about 80% (of total imported costs) exposure to USD imports with the rest in Japanese yen. Every 1% change in USD impacts our FY18F by 4.7% for UMW (group) and 16% for Tan Chong. As Tan Chong is loss-making

(relative to the steady state earnings of RM200 million to RM300 million per annum prior to the downcycle), it is more sensitive to foreign exchange (forex) changes now.

Th e ringgit has also strengthened against the yen in the past six months and currently stands at RM3.88: ¥100. Notably, the YTD rate of RM3.89: ¥100 is already above our calendar year 2018/2019 forecast (CY18/19F) assumption of RM3.90: ¥100. Bermaz Auto Bhd (BAuto) is a key benefi ciary of the ringgit strength against the yen as its imports are 100% exposed to the latter. BAuto is exposed to the yen via CBU imports, whereas its CKD vehicles, the CX5 and Mazda 3 models, are purchased at a fi xed ringgit price from 30%-owned Mazda Malaysia Sdn Bhd (MMSB), which is the importer of Mazda CKD kits and the assembler.

To make this possible, MMSB absorbs yen volatilities from CKD imports, which means that MMSB also benefi ts from the current ringgit strength. We estimate that every 1% strengthening of the ringgit against the yen impacts BAuto’s FY18F (end-ing in April) earnings by 3%.

Perusahaan Otomobil Kedua Sdn Bhd (Perodua) is another bene-fi ciary given its exposure to the yen (and partly USD). Every 1% change in the yen impacts our FY17F by 1%. UMW Holdings Bhd is the larg-est shareholder of Perodua with a 38% stake.

Th e recently reported 2Q17 earn-ings have already shown improve-ments for the auto sector. UMW autos’ pre-tax improved 14% quar-ter-on-quarter (q-o-q) to RM99 million, while Tan Chong’s losses

narrowed 35% q-o-q to a net loss of RM23 million in 2Q17 on the back of improved volumes and slight im-provement in foreign exchange (fo-rex).

BAuto will release its 1QFY18 (ended July 31, 2017) results this week. The group should benefit immediately from the sharp forex improvement since April 2017 in the upcoming results as it no longer hedges its forex position.

Mazda’s total industry volume (TIV) has been weak YTD due to run-out of the current generation CX5, but we expect this to improve signifi cantly once the second-gen-eration CX5 is launched by month end. Th e CX5 is one of BAuto’s big-gest sellers accounting for 30%-40% of Mazda’s TIV.

Volume recovery has been healthy at a YTD TIV growth of 4.7%; Honda (up 29% YTD) and Toyota (up 22% YTD) are leading this TIV growth.

BAuto is our top sector pick at an unchanged target price (TP) of RM2.55 per share. Key catalysts over the next 12 months: i) A 30% year-on-year increase in FY18F TIV driven mainly by the launch of the new CX5 this month and the CX9 in July; ii) a more than doubling in associate earnings contribution to group (via 30%-owned MMSB and 29%-owned Inokom Corp Sdn Bhd) given a massive export market ex-pansion which will triple MMSB’s prospective market; and iii) attrac-tive dividend yield of 8% under-pinned by net cash which accounts for 12% of market capitalisation and a solid 8% free cash fl ow to equity (FCFE) yield in FY18F. — MIDF Research, Sept 8

GD Express Carrier Bhd(Sept 8, 66 sen)Maintain outperform with a low-er target price (TP) of 45 sen: We returned from GD Express Carrier Bhd’s (GDEX) briefi ng with a more cautious outlook over likely margin pressures amid increasing compe-tition, coupled with an expected increase in eff ective tax rates fol-lowing the expiration of existing Malaysian Industrial Development Authority (Mida) tax incentives.

As such, fi nancial year 2018/2019 estimated (FY18/19E) earnings forecasts are trimmed by 13%-19%. Meanwhile, plans for its secondary sorting hub have been called off , as GDEX opts to focus on continued expansion of its main hub.

With most of the private place-ment funds still intact, we believe future inorganic growth is still like-ly. After a +56% price rally since our initiation on GDEX, we believe that foreseeable positives are well priced in at current levels.

Th e increasing competitiveness of the industry following the en-trance of new players, coupled with continued market share competi-tion among existing established players, were highlighted to us.

Going forward, we believe GDEX is likely to continue facing margin pressures, given the price-elastic

nature of the business, as well as GDEX’s continued eff orts in retain-ing and increasing market share.

Additionally, GDEX’s Mida tax incentives are expiring by the end of this month. With no further de-velopments regarding an exten-sion, we expect forward eff ective tax rates to increase accordingly.

Following continued restructur-ing eff orts, GDEX’s average sorting capacity has increased to about 90,000 parcels per day from about 78,000 parcels per day last year.

Its fl eet size has also increased accordingly to 831 from 654 last year. Meanwhile, we gathered that the plan for its secondary sorting hub in Sungai Buloh has been called off . Instead, GDEX is opting to focus on further upgrading its ex-isting main sorting hub in Petaling Jaya, Selangor, with installation of a new sorting line currently in the pipeline to ease existing sorting constraints.

Post-briefi ng, we have tweaked our FY18-19E earnings forecasts downwards by 13%-19%, to ac-count for: i) higher effective tax rates; and ii) margin pressures on its express delivery business. Fol-lowing that, our discounted cash fl ow (DCF)-derived TP is lowered to 45 sen, from 48 sen previously. — Kenanga Research, Sept 8

1 0 H O M E MONDAY SEPTEMBER 11, 2017 • THEEDGE FINANCIAL DAILY

GDP fi gures hide pockets of povertySpecifi c groups are much worse off than growth numbers implied, says economist

BY R A S H B E H A R I B H AT TA C H A R J E E

KUALA LUMPUR: Although the offi cial poverty rate is a mere 0.6%, there are pockets of the poor in Malaysia that are comparable to parts of Africa and South Asia, says the author of bestselling book Th e Colour of Inequality.

Citing a range of statistics to il-lustrate this stark reality, Dr Mu-hammed Abdul Khalid, the founder and chief economist of economic and policy research consultancy DM Analytics, said that the nation should discard its “fetish” for gross domestic product (GDP) fi gures and strive to make growth inclusive.

Belying the national poverty rate, he said, specifi c groups in the coun-try are much worse off than the growth numbers implied.

KUALA LUMPUR: Malaysia plays a significant and highly regard-ed role as a trading and political partner of the US in the Southeast Asian region, says Prime Minister Datuk Seri Najib Razak.

He said this is despite the fact that Malaysia is much smaller than

the US — a superpower which is the second-largest investor of Malaysia.

In a recent blog post on Naji-bRazak.com, Najib said of his work-ing visit to the US from today to Wednesday on the invitation of US President Donald Trump: “Th rough this visit, I will emphasise bilater-

al discussions and aim for a more dynamic economic growth.”

The prime minister said he would also discuss with Trump on antiterrorism issues in the re-gion and the humanitarian crisis faced by the Rohingya in Myanmar.

“God willing, this visit will be

fruitful and further strengthen Ma-laysia-US relations,” he said.

Najib said Malaysians receive 10-year multiple-entry visit visas to the US, and that the country is in the final stages of qualifying for the Visa Waiver Programme. — Bernama

PUTRAJAYA: All motorcycle asso-ciations in the country have been brought under the umbrella of the Federation of Malaysian Motor-ing Associations (GPPM), Deputy Prime Minister Datuk Seri Dr Ah-mad Zahid Hamidi announced yesterday.

He said GPPM affi liate mem-bers would include associations of small bikers, hence providing equal treatment to all motorcycle lovers, as well as to facilitate organising of programmes that would benefit the society.

“All this while, motorcycling is regarded as an activity for the elites. Th at is why, I thank the small bikers or kapcai motorcyclists who also contribute to the community and to provide equality for all bikers, I announce the set-up of GPPM to bring together all motorcycle associations under one roof,” he said when closing the Merdeka Rides 2017 programme organised by the Superbikers Association of Malaysia (SAM).

Th e programme, which started in Jeli, Kelantan, last Monday and ended in Putrajaya on Saturday, involved 600 high-powered motor-cycles, where the bikers stopped at several locations in the rural areas

For example, poverty among the Orang Asli is 33%, Sabah bu-miputera 20% and Sarawak bumi-putera 7%. For the old, the rate is also higher than the national fi gure, Muhammed told a seminar entitled “Policy Imperatives to Drive Future Growth” last Th ursday.

A particular concern is that of childhood poverty. According to the Economic Planning Unit’s Voluntary National Review report last month on the United Nations Sustainable Development Goals, the prevalence of stunted children below fi ve years of age is at 20.7%.

Th is is higher than in some Afri-can countries, Muhammed noted, and a surprise given that Malaysia is an upper middle-income country.

“Let’s not get too obsessed with GDP,” he said. “How GDP is gen-

erated, whether it is inclusive and sustainable are more important.”

Instead, Muhammed suggested that attention be directed towards a number of key issues, including refocusing on poverty, fi scal policy reform and increasing development expenditure for poorer regions.

He pointed out that growth with equity is important for three main reasons: Firstly, low levels of in-equality are associated with sus-tainable, stable growth; secondly, countries with high levels of pov-erty usually have many health and social issues; and thirdly, equitable growth is conducive to political and social stability.

Among other things, Mu-hammed pointed out that the gap between the richest and poorest states in Malaysia is widening.

For instance, he said, GDP of Kuala Lumpur is equivalent to that of South Korea, so if Kuala Lumpur were a nation, it would already be in the high-income category.

“On the other hand, Kelantan, one hour’s fl ight away, has a GDP that is between that of Sri Lanka and Indonesia,” said Muhammed.

Other insights into imbalances among particular groups include the fi nding that intra-ethnic disparity in wealth is the highest among the Chinese, rather than among bumi-putera, as is commonly believed.

In terms of longevity, Indian males fare the worst, having the same life expectancy as in Bangla-desh, a much poorer nation.

Th e seminar was co-organised by the Jeff rey Cheah Institute and the Malaysian Economic Association.

Najib: US-Malaysia ties in Southeast Asia signifi cant

Zahid announces formation of bikers’ umbrella group

ALOR SETAR: Pulau Langkawi is set to emerge as the largest fi shery centre in Southeast Asia with the launch of a US$12 million (RM50.4 million) massive cage fi sh cultiva-tion project by Singapore-based Fishance Bhd in collaboration with the Kedah state government.

Launched in August 2016, the project aims to produce more than 100,000 tonnes of fi sh annually.

Kedah state women, develop-ment, agriculture and agro-based, entrepreneur development, com-munity welfare committee chair-man Datuk Suraya Yaacob said the aquaculture company, which spe-cialises in fi sh farms, was the best partner to make the project a reality.

“We want to make Langkawi the biggest fi shery centre in Southeast Asia. About 3,000 fi sh cages would be immersed in the waters off Pu-lau Langgun to catch sea bass and snappers,” she told reporters after receiving a mock cheque, on behalf of the state government, for RM1.295 million from Fishance chief execu-tive offi cer Alexey Dorin. — Bernama

to carry out activities with the local community.

Th e deputy prime minister also launched a fund to help the Ro-hingya people, especially for SAM members, and spontaneously lift-ed the hat he was wearing to be passed around.

“We want to show the world that

bikers also care for the suff erings of the Rohingya people,” he said.

At the event, Ahmad Zahid, who is also SAM executive chairman, launched the vehicle registration numbers beginning with SAM 1 to SAM 9999, which had been ap-proved by the Road Transport De-partment. — Bernama

Police seize drugs worth RM13,000 in KamuntingTAIPING: Police arrested two men and seized drugs valued at RM13,000 in the vicinity of the Taiping Golf Resort, Kamunting, near here on Saturday. District Police Chief ACP Harrith Kam Abdullah said both suspects, aged 28 and 34 from Kamunt-ing and Johor Baru respective-ly, were detained at about 4am on Saturday by a team from the narcotics division of the dis-trict police headquarters fol-lowing information received from members of the public. Harrith Kam said a check on an apartment via a key from one of the suspects discovered 445g of heroin and 0.05g of sya-bu believed to be for distribu-tion in Kamunting and Taiping. — Bernama

CCTVs at public places may be made compulsoryJOHOR BARU: Th e home min-istry is in the midst of formu-lating a law relating to the closed-circuit television cam-era (CCTV) system to control and expand its use in the coun-try. Deputy Home Minister Da-tuk Nur Jazlan Mohamed said it was aimed at increasing secu-rity, as well as preventing and recording crime at public plac-es, and hence the installation of the system would probably be made compulsory. He said, at present, the CCTV system is not widely used and is still recording and storing images and visuals in a passive way, which could not be processed with software. — Bernama

Sultan Ibrahim launches Mersing Harbour CentreMERSING: Mersing Harbour Centre, a RM12 million busi-ness hub for small and medium enterprises (SMEs), was offi cial-ly opened by the Sultan of Johor, Sultan Ibrahim Sultan Iskandar, yesterday in conjunction with the Kembara Mahkota Johor 2017. Th e centre will house 50 SMEs including participants of the East Coast Economic Re-gion Development Council Em-power Programme. It will also be equipped with a car park, a tourist information counter, ex-hibition hall, surau, childrens’ playground and other amenities for the convenience of tourists and locals. — Bernama

RM30,000 donation for nature educationKUALA LUMPUR: Th e Veritas Design Group, which is com-mitted to environmental sus-tainability, presented a cheque of RM30,000 to the Malaysian Nature Society in conjunction with the fi rm’s 30th anniversa-ry celebrations recently. The contribution was made from the Veritas Fund for Excellence, which has environmental sus-tainability as one of the pri-mary focuses of its corporate social responsibility scheme. Th e contribution will be used to fund the association’s Natural Classroom: Connecting Chil-dren with Nature programme.

I N BR I E F

‘Langkawi to become biggest fi shing centre in Southeast Asia’

Bikers participating in the closing ceremony of the Merdeka Rides 2017 programme at Dataran Putrajaya yesterday. Photo by Bernama

C O M M E N T 1 1MONDAY SEPTEMBER 11, 2017 • THEED G E FINANCIAL DAILY

Trust issues?China targets a US$3 trillion shadow banking industry

BY E N G E N T H A M

As a flood of unreg-ulated cash swirls through the Chi-nese economy, Bei-jing has been taking aim at the trust com-

panies whose unrestrained lending practices are worrying regulators.

Th e trusts, at the heart of a vast shadow banking industry, are being pressured to step up compliance and background checks, and are being pushed towards greater transparency.

But the fast-growing 20 trillion yuan (RM12.6 trillion) industry, whose lending operations are cloaked behind opaque structures, will be tough to rein in, according to employees at some trusts.

A regulatory sanction against one trust, Shanghai International Trust, and a legal case against an-other, National Trust, off er rare in-sights into the industry, and reveals just how hard it will be to police it.

Shanghai Trust was fi ned 200,000 yuan for selling a product that vio-lated leverage rules, according to a regulator’s notice in January. Under these rules, property developers are only allowed to borrow up to three times their existing net assets.

According to two people with direct knowledge of the case, an unknown sum was loaned by China Construction Bank through Shang-hai Trust to Cinda Asset Manage-ment Company. Cinda then invest-ed the cash.

One of the sources said Cinda used the cash to acquire land, a sector rife with speculation that regulators have singled out as a “risky” destination for trust company loans. Th e source provided no further details.

Steel loansTh e case against National Trust, which had revenue of 655 million yuan in 2016, involves wealth man-agement products linked to the steel industry.

Th e trust was sued in June this year by eight investors who allege it misrepresented the risks involved in products it sold them and failed to adequately assess the guarantor’s creditworthiness.

Th e trust skirted restrictions on loans to the steel industry by us-ing the products to raise money to lend to a subsidiary of Bohai Steel Group, according to Tang Chunlin, a lawyer at Yingke Law Firm, who is representing the investors.

Th e plaintiff s invested diff erent sums in the wealth management products, which National Trust promised would deliver an annual return of over 9%. National Trust lent the money collected to a Bohai subsidiary, Tianjin Iron and Steel Group Co, according to documents reviewed by Reuters.

Bohai Steel Group, which is un-dergoing a state-fi nanced restruc-turing, has liabilities of around 192 billion yuan.

National Trust has now defaulted on the product, according to Tang and Gongyu Zhou, one of the eight

investors, because Tianjin Iron and Steel is unable to pay back its loan. Th e products were also illegally sold via third-party non-fi nancial insti-tutions, Tang and Zhou said.

Structural concernsOne of the biggest challenges facing regulators is that many trusts employ a baffl ing array of structures, and fun-nel money through complex webs of benefi ciaries, which makes untan-gling transactions extremely diffi cult.

Nine people working at trusts, in-cluding the two with knowledge of the Shanghai Trust case, said such complex structures were often de-liberately used to sidestep lending restrictions on banks and borrowers.

“Really, only the project man-ager knows exactly how the mon-ey fl ows,” said a senior employee at one trust fi rm.

Insurance linkThe practices of the trusts, and the speed at which the industry is growing, have made them a target for Beijing as it tries to keep a lid on risky lending, cool overheated markets and control corporate debt.

In April, Deng Zhiyi, head of the China Banking Regulatory Com-mission’s (CBRC) trust department, warned of “severe risks” from funds fl owing into the real estate, coal and steel sectors through trusts.

While the companies are over-seen by the CBRC, they are not held to the same standards as banks. For example, they do not have to meet the same capital adequacy standards.

However, the regulator set out in detail in April certain structures that the trusts should not use, such as money-pooling schemes and structuring products to avoid re-strictions on leverage.

Th at was “a signal for fi nancial institutions that from a legal and enforcement perspective, we are entering a stricter period,” said Arm-strong Chen, fi nancial compliance partner at King & Wood Mallesons.

Trust fi rms will also have to start registering the details of their prod-ucts, identifying the ultimate bor-rower of funds, this year, said Chen, who is in regular contact with the regulators.

Th e Shanghai Trust case also re-fl ected the tougher line being taken by regulators. Th e fi ne would have been negligible for the state-owned company, one of the largest trusts with a total of 3.89 billion yuan in revenue at the end of 2016.

But according to three diff er-ent sources with direct knowledge, Shanghai Trust was also barred from selling products to insurers for three years.

Compliance eff ortsSome of the trusts are already re-sponding to the government pressure.

Anxin Trust is increasing the number of onsite visits by staff and has doubled its compliance team, said a person with direct knowledge of the company’s ac-tivities. Th e trust is also looking at less risky deals.

A spokesman for Anxin said man-aging risk was a priority for the trust.

China Industrial International Trust is requiring staff to include photos of site visits to prevent them from faking trips.

Documents have to be signed by all participants face-to-face, said a person with direct knowledge of the company’s operations. Th e company declined to comment.

Despite these changes, the gov-ernment’s job managing the trusts keeps growing.

“Th e demand for trust loans is in-creasing,” an internal report at a large trust fi rm in May said. “In the past, state-owned-enterprises would not consider such loans, but are now con-sidering them,” said the report, add-ing that the trend started in March.

A source made the report avail-able to Reuters on the condition the name of the company was not disclosed. — Reuters

Th e next oil major? Service fi rm Schlumberger’s big bet on production

THE world’s largest oilfi eld ser-vices company, Schlumberger NV, is spending billions of dollars buying stakes in its customers’ oil and gas projects — investing in the same ventures it supplies with equipment and expertise.

Th e new business model gives Schlumberger a say in drilling decisions, oilfi eld management and even on hiring other Schlum-berger units for service contracts, the company has told investors.

Th e expanded operational au-thority saves Schlumberger from bidding for each of the many jobs that typically require separate contracts on a large drilling pro-ject — eff ectively locking out the fi rm’s competitors.

Schlumberger’s gamble could upend the service business model throughout the industry, as rivals including General Electric Co’s unit Baker Hughes say they are considering whether to adopt similar strategies.

Th e model can supercharge profi ts on a given job but also ramps up risk, giving the firm more exposure to global oil price swing.

Traditionally, oil producers manage the risk and make the fi nancial and operational deci-sions on projects; they pay ser-vice providers a fee to carry out individual jobs.

Despite early setbacks, Schlumberger has committed cash to growing the division, called Schlumberger Production Management, since its launch in 2011. Last year, it generat-ed US$1.4 billion in revenue. It had investment of US$2.6 bil-lion (RM10.92 billion) as of June 30, Schlumberger executive vice president Patrick Schorn told in-vestors earlier this summer.

This year, the company stepped up the fi nancing role, opening a standalone investment fund to provide fi nancing for the ventures.

In June, Schlumberger agreed to invest US$700 million in an oil exploration project with Nigeri-an National Petroleum Corp and First Exploration & Production that would require global oil pric-es of between US$50 to US$60 a barrel to achieve a 20% profi t, re-search house Bernstein estimat-ed in a report published in July.

Competing with customersAs Schlumberger’s production

business has grown, it has nego-tiated deals that include equity in oil and gas fi elds and as well as deals that give the fi rm payment based on oil and gas output, ac-cording to interviews with cus-tomers, partners, investors and former Schlumberger executives.

Schlumberger this year agreed to contribute US$390 million for a 49% stake in a venture with YPF in Argentina’s Vaca Muerta shale fi eld, which has attracted international oil fi rms including

Chevron and Royal Dutch Shell.Schlumberger chief executive

offi cer (CEO) Paal Kibsgaard has downplayed the potential for its production business to compete with its own oil company cus-tomers.

Schorn insisted this spring that the business is “not signifi -cantly changing the risk profi le ... the biggest risk remains the cyclical nature” of the oil and gas industry.

Capability and cashInvestors say Schlumberger, which held US$6.22 billion in cash and short-term investments at June 30, is strong enough to handle any increased risks and the price volatility of its invest-ments in long-term projects.

As both project manager and service provider, Schlumberger also has an enviable level of con-trol over operations, said Mike Breard of Dallas-based wealth management fi rm Hodges Cap-ital, which invests in oilfi eld ser-vice companies.

British-based natural gas ex-plorer Sound Energy plc was happy to give Schlumberger full rights to the service contracts on drilling projects in Morocco in exchange for a Schlumberger investment amounting to 27% of total costs, said the chief of Brit-ish-based natural gas explorer.

Schlumberger will get 27.5% of revenue from the oil produced.

Th e duo has completed three wells in Morocco and plans to drill three more by year end.

Schlumberger’s appetite for these ventures is spurring rivals to consider similar fi nancing and services deals. Baker Hughes re-cently agreed to provide about US$10 million in financing to Twinza Oil’s fi rst off shore gas fi eld in Papua New Guinea, supplying the cash to prove the merits of the fi eld.

Risk and lossIn 2014 and 2015, Schlumberg-er took nearly US$400 million in combined write-offs on oil production investments, includ-ing an Eagle Ford shale fi eld in south Texas that struggled after oil prices crashed.

It also is owed about US$900 million by Ecuador. In July, the South American country said it had negotiated a payment plan that includes an expanded contract that has Schlumberger agreeing to invest another US$1 billion in the venture.

Th e write-downs have stirred some on Wall Street to question whether Schlumberger should take more conservative path with its oil production partnerships.

Th e fi rm’s production division “used to focus on production management of well understood low-risk oil fields,” said Colin Davies, a Bernstein oilfi eld ser-vices analyst. “Now it has expand-ed into frankly somewhat more speculative ventures.” — Reuters

BY L I Z H A M P TO N

1 2 W O R L D B U S I N E S S MONDAY SEPTEMBER 11, 2017 • THEEDGE FINANCIAL DAILY

Australian banks may exit wealth managementWELLINGTON: Australian banks are likely to get out of their wealth-management businesses without the need for government to force divestment, according to the head of a parliamentary banking inquiry. “You will see over time banks will get out of their wealth management busi-nesses because it is an area that has caused them problems and it’s a relatively small proportion of their business,” ruling Liberal Party lawmaker David Coleman told Sky News Australia yester-day. Th e opposition Labour Party wants a royal commission into the banking industry. Th e gov-ernment’s response is closer scrutiny on how retail interest rates are being set, Coleman said. — Bloomberg

‘Uber to face FBI probeas compliance chief exits’NEW YORK/SAN FRANCIS-CO: Uber Technologies Inc is under investigation by federal authorities in New York for its alleged use of a spyware pro-gramme designed to under-mine competition for its digital ride-hailing service, accord-ing to people familiar with the matter. Uber’s global head of compliance, Joseph Spiegler, resigned last week, according to two people familiar with the matter. Uber is now searching for a replacement to report di-rectly to its new chief executive offi cer Dara Khosrowshahi, one of the people said. Th e ride-hail-ing company faces three major US legal probes. — Bloomberg

Russia makes U-turnon cryptocurrencies MOSCOW: Russia is drawing up rules about how to conduct ini-tial coin off erings (ICOs), break-ing ranks with China after Presi-dent Vladimir Putin signalled his approval for digital currencies. While China slapped a blanket ban on ICOs this month, the gov-ernment here plans to regulate cryptocurrencies like securities rather than outlawing them, Fi-nance Minister Anton Siluanov told reporters last Friday. Appe-tite for the new instruments has been growing ever since Putin gave his blessing for Russia to develop blockchain, the tech-nology underlying bitcoin. — Bloomberg

‘PBOC to remove reserve rule for forex forwards’NEW YORK/BEIJING: China’s central bank will eff ectively re-move a reserve requirement for trading foreign currency (forex) forwards — a move that may slow the pace of yuan appreci-ation after its biggest two-week surge in at least a decade — ac-cording to people familiar with the matter. Eff ective today, the People’s Bank of China (PBOC) will stop requiring financial institutions to set aside cash when buying dollars for clients through currency forwards, the people said. Th e PBOC didn’t immediately reply to a fax seek-ing comment. — Bloomberg

I N BR I E FChina to ban saleof fossil fuel carsIt is aimed at expediting eff orts in developing electric vehicles

Global insurance giants mayget anotherbite at theChina market

BEIJING: China will set a deadline for automakers to end sales of fossil fuel-powered vehicles, a move aimed at pushing companies to speed up eff orts in developing electric vehicles for the world’s biggest auto market.

Xin Guobin, the vice-minister of industry and information technology, said the government is working with other regulators on a timetable to end production and sales. Th e move will have a profound impact on the envi-ronment and growth of China’s auto industry, Xin said at an auto forum in Tianjin on Saturday.

A ban on combustion-engine ve-hicles will help push both local and

global automakers to shift towards electric vehicles, a carrot-and-stick approach that could boost sales of energy-effi cient cars and trucks and reduce air pollution while serving the strategic goal of cutting oil imports. The government offers generous subsidies to makers of new-energy vehicles. It also plans to require au-tomakers to earn enough credits or buy them from competitors with a surplus under a new cap-and-trade programme for fuel economy and emissions.

Honda Motor Co will launch an electric car for the China market next year, its China chief operating offi cer Yasuhide Mizuno said at the same forum. The Japanese carmaker is

developing the vehicle with Chinese joint ventures of Guangqi Honda Au-tomobile Co and Dongfeng Honda Automobile Co and will create a new brand with them, he said.

Internet entrepreneur William Li’s Nio will start selling ES8, a sport-util-ity vehicle powered only with batter-ies, in mid-December. Th e start-up is working with state-owned Anhui Jianghuai Automobile Group, which also is in a venture with Volkswagen AG to introduce an electric sport util-ity vehicle next year.

China, seeking to meet its promise to cap its carbon emissions by 2030, is the latest country to unveil plans to phase out vehicles running on fossil fuels. — Bloomberg

RIYADH: Plans to sell a stake in Saudi Arabian Oil Co are “well underway”, the government said on Saturday, as the kingdom redrafts one of its key economic blueprints to elimi-nate overlap with other reform pro-grammes.

Th e government’s privatisation programme “continues to gain trac-tion”, the ministry of culture and infor-mation said in a statement. Offi cials have said the kingdom plans to sell as much as 5% of Aramco next year in what could be the world’s biggest initial public off ering (IPO).

“Th e IPO process is well underway and Saudi Aramco remains focused

on ensuring that all IPO-related re-quirements are completed on time and to the very highest standards,” it said.

Th e statement comes after an of-fi cial document seen by Bloomberg News showed that authorities are re-drafting the National Transformation Programme (NTP), a plan to overhaul the kingdom’s government and econ-omy as it grapples with low oil prices. Th e revamp won’t change key fi scal or energy-related targets, but it is needed to match it with Crown Prince Mohammed Salman’s broader Saudi Vision 2030, which includes a sepa-rate programme for the Aramco IPO.

Th e NTP’s revision “represents learning and progress, and provides a

stronger foundation for the necessary reforms and progress for the country”, the ministry said. It said more than half the objectives under the previous version have been assigned to diff er-ent entities or programmes.

Th e original NTP was designed to overhaul the Saudi bureaucracy, and set targets for each ministry to achieve by 2020. Th e plan, however, was overshadowed by the prince’s Vision 2030, a broader blueprint for life after oil that calls for selling shares in Saudi Aramco and creating the world’s largest sovereign wealth fund.

Consultants and civil servants be-gan redrafting the NTP in July. It out-lines a 16-week schedule to develop the programme. — Bloomberg

SAN FRANCISCO: Apple Inc’s most important new phone for years will be called the iPhone X, according to a leak of the company’s latest mobile operating system on Saturday.

Strings of software code inside of the leaked operating system, fi rst detailed by Apple news website 9to5Mac, show that the expected three new phones will be called the iPhone 8, iPhone 8 Plus and iPhone X. App and game developer Steven Troughton-Smith discovered the names in the software and tweeted about it on Saturday.

Th e iPhone 8 and iPhone 8 Plus are successors to the current iPhone models, while the iPhone X is the premium version with an all-new de-sign, crisper OLED screen, improved cameras, and a 3D facial recognition

WASHINGTON: Global insur-ers may get another bite at the Chinese cherry. After meeting with representatives from sever-al foreign operators, Chen Wen-hui, vice-chairman of the China Insurance Regulatory Commis-sion, pledged to further open the market. Executives have heard such promises before, but a recent shake-up of the industry and its regulator by Beijing could provide real opportunities.

Multinational insurers have struggled in China. Equity caps restrict ownership in several busi-ness lines and the notoriously conservative industry watchdog often protects local champions. Th e regulator’s unease with for-eign fi rms, combined with wide discretion over approvals and li-censing, is often cited as a reason why only the biggest global in-surers continue to operate in the market, including Chubb, MetLife and Manulife.

Th at dynamic may change, re-fl ecting concerns the domestic insurance industry needs more discipline. New rules on equity investments, along with trading and fundraising bans for some fi rms, have crimped the likes of Anbang, Foresea Life (a unit of Baoneng), Evergrande Life and others reliant on universal life insurance, which combines short-term investments and life insur-ance. Two prolifi c insurance boss-es, Wu Xiaohui of Anbang and Yao Zhenhua of Foresea, have been detained and barred from the industry respectively.

China’s insurance watchdog has been upended too. An an-ti-corruption probe brought down its former chairman in April and has left the organisation keen to avoid any whiff of collusion with the enterprises it oversees. Th at’s why the regulator is reluctant to approve all but the most mundane deals, regardless of whether they meet stated requirements.

Th ough China may be diffi cult to navigate, there are good fi nan-cial reasons why international players want to stick around and expand in the Middle Kingdom. Th e insurance penetration rate, or gross written premiums as a share of gross domestic product was just 2.4% in China at the end of last year. Th at compares with 15% in Hong Kong and 16% in Taiwan, according to research by Allianz.

In a sense, multinationals can position themselves as the anti-Anbangs: providing solid brands with superior actuarial know-how, sound investment practices and a long-term focus. Chen’s meeting last week with the leaders of foreign insurers was held under the “return insurance to its roots” banner. While the goal may be to exert better practices by domestic insurers, it’s an opportu-nity international players should keenly exploit. — Reuters

Saudi Arabia says Aramco IPO on track as it redrafts reform plan

Apple’s new phone to be called ‘iPhone X’, code leaks show

scanner for unlocking the device.Th e “X” in the iPhone’s name may

be a reference to this model being a special 10th anniversary edition.

Th e iPhone 8 and iPhone 8 Plus will look similar to the iPhone 7 and iPhone 7 Plus, but include faster processors, Bloomberg News has reported.

Th e new devices will be unveiled

at an event tomorrow. An Apple spokesman declined to comment.

Th e leaked operating system cor-roborates earlier Bloomberg News re-ports that the premium X device will replace the usual Touch ID fi ngerprint scanner with a face unlock feature.

Apple will call the enhancement Face ID, according to the code. — Bloomberg

A hopeful render of the new Apple iPhone 8. Photo by Twitter

BY C H R I S TO P H E R B E D D O R

BY YA N Z H A N G

BY M A R K G U R M A N

BY V I V I A N N E R E I M

W O R L D B U S I N E S S 1 3MONDAY SEPTEMBER 11, 2017 • THEED G E FINANCIAL DAILY

Lilly takes on Pfi zer, Novartis It staked its claim for sales in a new class of breast cancer drugs

BY BILL BERKROT & BEN HIRSCHLER

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

NEW YORK/MADRID: Eli Lilly staked its claim for a slice of sales in a new class of breast cancer drugs yesterday as clinical data showed adding its medicine abemaciclib to standard therapy reduced the risk of disease progression by 46%.

Experts at the European Socie-ty for Medical Oncology congress in Madrid said the experimental drug’s effi cacy was comparable to that of rival drugs from Pfi zer and Novartis already on the market.

Abemaciclib, like Pfizer’s Ibrance and Novartis’s Kisqali, be-longs to a class of oral medicines called CDK 4/6 inhibitors that block cancer cells’ ability to divide and proliferate.

Adding abemaciclib to standard endocrine therapy led to signifi cant tumour shrinkage in 59% of patients compared with 44% in those on en-docrine drugs alone in the ongoing

study dubbed Monarch-3.For the study’s main goal of pro-

gression-free survival (PFS), wom-en who only received endocrine therapy of letrozole or anastrazole on average went 14.7 months be-fore disease worsening.

Not enough patients on abemac-iclib had seen their disease worsen after 18 months of treatment to cal-culate the median PFS for this group.

Evandro de Azambuja (pic), a

breast cancer expert at the Jules Bordet Institute, who was not in-volved in the study, said the rival drugs from Lilly, Pfi zer and Novar-tis all appeared “quite similar” in terms of effi cacy.

“I don’t think there is a preferred drug at this moment. It will depend on availability in diff erent countries and also cost,” he told reporters in Madrid.

Abemaciclib is given continu-ously rather than the on-and-off cycles used for its approved rivals as it does not cause as high rates of neutropenia, a suppression of white blood cells that can lead to infection. It does, however, cause more diarrhoea.

Pfi zer’s Ibrance, which was fi rst to market, is currently the market leader, ahead of Kisqali, but in-dustry analysts forecast the new Lilly drug will reach annual sales of US$1.8 billion by 2023, according to Th omson Reuters data. — Reuters

LONDON: Th e likes of SEB, Handels-banken and Nordea are stable, well capitalised and dull. Investors have spurned them in favour of eurozone banks. Yet the Swedes’ generous div-idends are attractive — and if Nor-dea’s move to Finland leads to lighter regulation, they may get more so.

The Swedes have market cap-italisations considerably higher than their book value because their charms are pretty well-fl agged. Th eir capital ratios are high; they pay 70% of their earnings to investors and their average costs are just 44% of income — all of which knock most European banks into a cocked hat.

What stops them rising higher are the onerous demands of Swedish regulators and politicians plus the risk of rising household indebted-ness. Th e former prompted Nordea’s decision to relocate its headquarters to Finland, a move it claims would save it €1.1 billion (RM5.56 billion). Peers could follow if Sweden insists on tougher regulation. Besides, core tier 1 ratios already average over 20%, well in excess of European rivals.

Household debt cannot be down-played. Th e average Swede has debt equivalent to around 180% of net disposable income, compared with a eurozone average of around 120%,

Swedish banks unfairly left out in the cold

according to Organization for Eco-nomic Cooperation and Develop-ment data. However, Moody’s be-lieves the banks could withstand house price falls of up to 30% with a limited impact on earnings.

While shares in the Swedish banks have slid, those in Italian, German and Spanish banks have rallied sharply this year, buoyed by the prospect of rising rates and bet-ter economic growth, after trading at deep discounts to book value. Analysts’ consensus, compiled by Berenberg, projects a 15% annu-al earnings growth for European banks over the next three years. But whatever the optimism over interest rates rising, short-term euro interbank off ered rates — against which many eurozone loans are actually priced — have declined. Loan growth also remains subdued.

Th e potential for earnings dis-appointment in the eurozone thus remains high. Moreover, Sweden’s remaining banks — which already have dividend yields of 5% or 6% compared with 3.5% for the Euro Stoxx bank index — have an op-portunity to press the regulator to go easier on capital requirements and fees, unless it wants others to go the way of Nordea. Th at suggests they deserve a warmer reception. — Reuters

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1 4 W O R L D MONDAY SEPTEMBER 11, 2017 • THEEDGE FINANCIAL DAILY

Aussie gay marriage rally draws record crowd ahead of postal viteSYDNEY: More than 20,000 peo-ple rallied in Sydney yesterday urging the legalisation of same-sex marriage, days ahead of a contentious postal survey on the issue that has divided the country. Organisers said the gathering was Australia’s larg-est gay rights demonstration, as a diverse range of people clad in rainbow colours converged on the heart of the city to insist on equal rights. “We are blown away by the response,” Cat Rose from Community Action Against Homophobia said. “Th e force we have shown today (yesterday) puts us in a good stead to win this battle over the next couple of months.” Th ough the postal ballot is non-binding, a “yes” vote is expected to lead to the le-galisation of same-sex marriage which could further fracture the government of Prime Minister Malcolm Turnbull. Ballots will be mailed out from tomorrow, with a result expected some time in November. — Reuters

Yemen says seven al-Qaeda militants killed — reportDUBAI: A series of US drone strikes killed seven al-Qaeda mil-itants on Saturday in the central province of al-Baidha, al-Masdar news website reported. Citing unnamed local offi cials, the web-site said the fi rst attack targeted two militants on a motorbike, killing one and wounding the other. A second strike killed three and wounded others rushing to rescue the victim of the fi rst at-tack. A third killed three militants near the houses at the village of Quraidah in the al-Sumah dis-trict, according to the website. — Bloomberg

Denmark suspends UN refugee resettlement schemeSTOCKHOLM: Denmark won’t allow any refugees into the country this year under a United Nations (UN) programme and will seek fl exibility in determin-ing how many may resettle in the future instead of a set quo-ta, the ministry of immigration and integration said. Since 1989, Denmark has pledged to take 500 refugees a year selected by the UN for resettlement. The programme is separate from European Union eff orts to dis-tribute migrants among mem-ber states. — Bloomberg

‘N Korea’s reckless behaviour needs global response’LONDON: North Korea’s “reck-less behaviour” is a global threat and requires a global response, the head of the Nato military alliance said yesterday. Nato is not directly involved in the crisis, which saw Pyong-yang carry out its sixth and most powerful nuclear test a week ago, but has repeatedly called on North Korea to aban-don its nuclear and ballistic missile programmes. — Reuters

I N BR I E FJapan backs fresh sanction proposal on PyongyangTh is includes barring crude oil shipments to N Korea, banning its textile exports

BERLIN: German Chancellor Angela Merkel told a newspa-per she would be prepared to become involved in a diplomatic initiative to end the North Korean nuclear and missiles programme, and suggested the Iran nuclear talks could be a model.

South Korea on Saturday braced for a possible further missile test by North Korea as it marked its founding anniver-sary, just days after its sixth and largest nuclear test rattled glob-al fi nancial markets and further escalated tensions in the region.

“If our participation in talks is desired, I will immediately say yes,” Merkel told Frankfurter All-gemeine Sonntagszeitung in an interview set to be published yesterday.

She pointed to negotiations that led to a landmark nuclear agreement between Iran and world powers in 2015. Back then, Germany and the fi ve countries on the United Nations Security Council with veto power took part in talks that led to Iran agree-ing to curb its nuclear work in return for the lifting of most sanc-tions. Merkel said that was “a long but important time of diploma-cy” that ultimately had a “good end” last year, referring to when the deal was implemented.

“I could imagine such a for-mat being used to end the North Korea confl ict. Europe and espe-cially Germany should be pre-pared to play a very active part in that,” Merkel added.

She said she thought the only way to deal with North Korea’s nuclear programme was to come to a diplomatic solution, adding: “A new arms race starting in the region would not be in anyone’s interests.” — Reuters

Merkel suggests Iran-style talks for North Korea issues

BY P E T E R PA E , L I N LY L I N

& S H I N S H OJ I

BY M I C H E L L E M A R T I N

SEOUL/LONDON/TOKYO: Japan backed a US push for the United Na-tions Security Council to vote today on fresh sanctions against North Ko-rea, saying that Kim Jong-un’s nuclear programme poses the most serious threat since World War II.

Defence Minister Itsunori Onod-era yesterday urged tougher sanc-tions including curbing oil supplies to North Korea. He warned that the

WASHINGTON: A phone call be-tween the leaders of Qatar and Saudi Arabia to help defuse a three-month political crisis ended up causing a fresh spat.

Th e conversation between Qatari ruler Sheikh Tamim Hamad Al Th ani and Saudi Crown Prince Moham-med Salman was reported by the offi cial news services in both coun-tries in the early hours of Saturday. Sheikh Tamim made the call and “expressed his desire” to start a dia-logue to discuss the demands of the four countries boycotting Qatar, ac-cording to the state-run Saudi Press Agency (SPA).

But shortly after the statement, the kingdom dismissed Qatar’s claim that US President Donald Trump helped

coordinate the call and said it will suspend talks until a clarifi cation is issued. “Th e call was at the request of Qatar to discuss its desire to talk to the four countries about their de-mands,” SPA reported.

Th e fresh dispute underscores the depth of the crisis that broke out in June when Saudi Arabia, the United Arab Emirates, Bahrain and Egypt severed diplomatic and transport links with Qatar, an unprecedented move in the history of the six-nation Gulf Cooperation Council. Th e Sau-di-led bloc accuses Qatar of backing terrorism and has presented Sheikh Tamim with 13 demands that include shutting down Al Jazeera television and scaling back ties with Iran. Qa-tar denies the charges and says the boycott is an attempt to undermine its sovereignty.

Qatar’s version of events “shows that it has yet to understand that the Kingdom of Saudi Arabia is not ready to tolerate altering agreements and facts”, the Saudi offi cial said.

Last Friday’s phone call took place after a separate conversation between Sheikh Tamim and Trump. Th e presi-dent also called Saudi Arabia’s Prince Mohammed, according to SPA, but it wasn’t clear whether he made that call before or after the new dispute.

Trump has stepped up his eff orts to resolve the crisis. “I do believe we will solve it ,” he told a White House news conference with the emir of Kuwait, Shiekh Sabah Al-Ahmed Al-Sabah last Th ursday. “If we don’t solve it, I will be a mediator right here in the White House” and “we will have something very quickly”. — Bloomberg

Phone call about Qatar crisis sparks off new problem

CONGRATULATIONS AND CELEBRATION ... North Korean leader Kim Jong-un yesterday hosted a massive celebration to congratulate his nuclear scientists and technicians who steered the country’s sixth and largest nuclear test a week ago, its offi cial news agency said yesterday. The US and its allies had been bracing for another long-range missile launch in time for the 69th anniversary of North Korea’s founding on Saturday, but no fresh provocations were spotted while the North held numerous events to mark the holiday. Throughout last week, South Korean offi cials had warned the North could launch another intercontinental ballistic missile in defi ance of UN sanctions and amid an escalating stand-off with the US. Photo by Reuters

regime’s advances in missile technol-ogy are complicating Japan’s ability to intercept them.

“Japan’s security environment in-cluding North Korea is increasingly grave — perhaps it’s the most serious state in the post-war period,” Onod-era told public broadcaster NHK. “If North Korea-bound oil, mainly com-ing from China, decreases through pressure by the international com-munity, it will be diffi cult for North Korea to operate its missile brigades.” US President Donald Trump’s ad-

ministration is pushing the Security Council to adopt a united stance as Kim gets closer to being able to strike the US with a nuclear weapon. China and Russia, which can veto any UN measures, have expressed scepti-cism that tough sanctions will stop North Korea’s nuclear push and have pushed for peace talks.

Th e US has warned that time is running out to act. North Korea det-onated its sixth and most powerful nuclear bomb last Sunday, which it said was a hydrogen device. South

Korea has detected moves that in-dicate it may soon launch another intercontinental ballistic missile.

Kim has said he won’t negotiate unless the US drops its “hostile pol-icies”.

Th e US has circulated a draft res-olution that would, aside from bar-ring crude oil shipments to North Korea, ban the nation’s exports of textiles and prohibit employment of its guest workers by other countries, according to a diplomat at the world body. — Bloomberg

BY Z A I D S A B A H & Z A I N A B FAT TA H

W O R L D 1 5MONDAY SEPTEMBER 11, 2017 • THEED G E FINANCIAL DAILY

Cruise lines send ships to Caribbean on hurricane rescue missionLOS ANGELES: Royal Caribbe-an Cruises Ltd and Norwegian Cruise Line Holdings Ltd are sending some of their empty ships to the Caribbean to help evacuate stranded tourists and bring much-needed supplies to islands severely damaged by Hurricane Irma. Norwegian ex-pects to pick up 2,000 travellers unable to leave the island of St Th omas prior to the storm. Its ship, Norwegian Sky, is sailing from its present location off the coast of Cancun, Mexico, and is expected to arrive in St Th om-as today. Royal Caribbean said two of its vessels would go to St Th omas and St Maarten, starting yesterday, and two more were waiting to assist in Key West and Tampa, Florida, should they be needed. — Bloomberg

World Health Organiza-tion sounds alarm over DR Congo cholera caseKINSHASA (DR Congo): Th e World Health Organization (WHO) on Saturday sound-ed the alarm over a cholera outbreak in the Democratic Republic of Congo which has already claimed 528 lives and reached “worrying propor-tions”. Th e UN says cholera is a major public health problem in the country with millions of cases registered every year. Last year, the disease claimed 817 lives there, according to the WHO. “Th e cholera out-break in the Democratic Re-public of Congo has reached worrying proportions with 20 out of 26 provinces aff ected by the disease,” the UN agency said in a statement. — AFP

Portuguese medics clear woman’s bid to bear grandchildLISBON: Portugal has approved its fi rst surrogate mother — a 50-year-old grandmother who will bear a child to allow her daughter to start a family, media reports said on Saturday. Th e Portuguese Council for Assist-ed Birth late last Friday unan-imously approved the request of a 30-year-old woman who cannot bear children following a surgical procedure for endo-metriosis, the Expresso week-ly said. “Despite several other cases put forward, only this one was examined by the council and unanimously approved,” a statement said. — AFP

Japan railway lets felines roam to raise awareness of straysOGAKI (Japan): A Japanese civic group teamed up with a railway operator yesterday to let some 30 cats roam on a local train at an event, hoping it will raise awareness of the culling of stray cats. Passengers on a local train in Ogaki, in central Japan, were greeted by meowing compan-ions on a moving train, where some passengers mingled with the felines while others enjoyed lunch. — Reuters

I N BR I E FHurricanes smash Atlantic’s recordIrma, Jose, Katia have been working overtime in the last three days

BY K AT E S P R I N G E R

NEW YORK: Hurricanes are atmos-pheric machines that consume heat from the ocean and expel it as ex-traordinary wind speed. Over the last three days, Irma, Jose, and, to a lesser extent, Katia have been working overtime.

Forecasters use many metrics to describe the severity of a storm, but the most dramatic may be the accu-mulated cyclone energy index (ACE). Th e calculation is a function of wind speed measurements sampled every six hours. It provides an overall sense of a storm’s power. Hurricane Harvey hit south-eastern Texas as a Category 4 storm on the wind scale, with top winds above 209.215kph, and fi n-ished with an ACE of 11.1.

Irma, a Category 4 storm expect-ed to make landfall in Florida yes-terday morning has an ACE of 58.09 so far, according to data from the

Tropical Meteorology Project at Col-orado State University. Th e record holder for the Atlantic is Hurricane Ivan which scored a 70.4 on the ACE index in September 2004 according to research scientist Phil Klotzbach.

Scientists are increasingly com-fortable connecting human-driven climate change to the ocean condi-tions powering these storms.

Th e ACE can also track 24-hour totals of cyclone activity. Irma and its two siblings, Jose (Category 4), and Katia (now a tropical depres-sion), made last Wednesday and Thursday the fourth- and third-most violent dates in the history of ACE Atlantic-basin record-keeping. Sept 11, 1961, saw four simultane-ous major Atlantic cyclones, Betsy, Carla, Debbie, and Esther — all Category 3 or higher.

Last Friday broke that almost

56-year-old power record by more than 12%.

France’s meteorological agen-cy on Saturday issued its highest warning for the Caribbean islands of St Martin and St Barts as Jose bore down, three days after they were hit by Irma.

As reported by AFP, the alert warned of a “dangerous event of ex-ceptional intensity,” as Irma passed at a distance of around 100km.

Th e islands could expect winds that could reach 120kph, up to 100mm of rain and waves of be-tween 6m to 8m, forecasters said.

Irma strengthened as it churned towards south-western Florida, threatening severe damage in Tam-pa and other cities facing the Gulf of Mexico in what could end up being the most expensive storm in US history. — Bloomberg

HONG KONG: Proboscis monkeys, fl ying foxes, waterfalls, and sunrise canopy walks — the remote region of Temburong, in Brunei, is a nat-ural wonderland.

But separated from Brunei’s main region by a slice of Malay-sia, it isn’t the easiest place to reach.

In 2019, a 30km viaduct will change that by connecting this forested exclave of Brunei to the mainland.

Once built, it will reduce the journey time to the region to 20 minutes by car.

Connecting Brunei ... with BruneiLocated on Borneo island, Bru-

nei has two main regions, which are separated by Malaysia’s Sarawak.

Blessed with oil and natural gas, Brunei was the world’s fi fth richest country in 2016, with a GPD (based on purchasing power parity) of US$79,710, according to Global Finance magazine.

In recent years, declining oil prices have inspired a new focus on tourism.

“Th e bridge is part of the sultan-ate’s eff orts to diversify the economy and end over-reliance on hydrocar-bons,” Patrick Cooke, regional editor of Oxford Business Group, tells CNN.

“It’s hoped that the bridge will open the region up to further inter-national tourism and investment.”

By 2020, the ministry of prima-ry Resources and tourism hopes to have increased tourist arrivals in Brunei from 218,000 in 2015 to 450,000 by 2020, under its 2016-2020 Strategic Plan.

“Temburong is expected to play a big role in the fulfi lment of this plan,” says Cooke.

The challenge, he explains, is to ensure the new bridge creates economic opportunities with-out sacrificing the area’s natural beauty. — CNN

New cancer treatments come with rare risks for some

MINNEAPOLIS: Nausea, vom-iting and hair loss appear like clockwork with chemotherapy. Patients know to expect them and doctors, even those who don’t normally treat cancer, know how to handle them.

A potent new generation of therapies that harness the body’s immune system has brought promising results for deadly cancers, and also some unpredictable side eff ects — ranging from a light rash to shingles to severely damaged organs. When or if they’ll strike is anyone’s guess.

“It’s such a roll of the dice,” said Betsy Plimack, an oncol-ogist with expertise in bladder cancer at Fox Chase Cancer Center in Philadelphia. “It’s high risk, high reward. May-be you’ll be one of those peo-ple who have zero side eff ects and whose tumour shrinks, or maybe your tumour will grow right through it and you’ll be debilitated with some auto-immune event.”

For many patients, the risk is worth it. Th e drugs, known as immunotherapies, have pro-longed lives and sometimes put what seemed like incurable tu-mours in remission, even after other treatments failed.

Th e drug was followed by the arrival of blockbuster treat-ments including Merck & Co’s Keytruda, a drug for cancers including melanoma and lung cancer that analysts predict will reach more than US$11 billion in sales in 2023.

As drug makers seek approval for more cancers and combine treatments to increase their po-tency, more complications will arise. Th e safety risks could ulti-mately limit the drugs’ use.

Last week, US regulators suspended several experi-mental trials using cocktails of immunotherapy drugs in patients with multiple myelo-ma and other blood cancers. Clinical studies being run by Bristol-Myers, Celgene Corp, AstraZeneca plc and Roche Holding AG were paused after patients with multiple myelo-ma died in a trial of Merck’s Keytruda. — Bloomberg

BY M I C H E L L E FAY C O R T E Z

Some unpredictable side eff ects range

from a light rash to shingles to severely

damaged organs.

1 6 F O C U S MONDAY SEPTEMBER 11, 2017 • THEEDGE FINANCIAL DAILY

Suu Kyi under attack over response to Rohingya crisisForeign investment fell 30% last fi scal year after a record US$9.5b in the preceding 12 months

BY J A S O N KO U T S O U K I S & K YAW T H U

PHOTOS BY AFP

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01. Suu Kyi is now under attack over her response to a fresh round of violence that has seen more than 145,000 minority Rohingya Muslims fl ee into neighbouring Bangladesh since last month.

02. A protester burning a picture of Suu Kyi in front of Myanmar embassy in Jakarta on Sept 2.

For decades Myanmar’s leader Aung San Suu Kyi was one of the globe’s most famous political prisoners, winning a Nobel Peace Prize and receiving tributes from world lead-ers and rock stars like U2’s Bono.

Now she is under attack over her response to a fresh round of violence that has seen more than 145,000 minority Rohingya Muslims fl ee into neighbouring Bangladesh since last month. Myanmar’s army said more than 400 people have died in the past few weeks and most of them are “militants,” while human-rights groups say hundreds of villagers have been killed.

Th e crisis threatens to sap investor confi -dence in the fast-growing Southeast Asian na-tion, which saw the US and European nations drop sanctions after the military junta released Suu Kyi from house arrest in 2010. Foreign companies that rushed in are again worried about risks from human rights concerns.

“It certainly impacts sentiment,” said Hal G Bosher, chief executive offi cer of Yoma Bank in Myanmar’s fi nancial capital Yan-gon. “Th e Rohingya issue is giving foreign investors pause that maybe this is not the perfect story we had hoped.”

Suu Kyi, 72, fought back last Wednesday. In a readout of a phone call with Turkey President Recep Tayyip Erdogan, she said “a huge iceberg of misinformation” is creating divisions in society to promote the interests of terrorists.

Fake news“We know very well, more than most, what it means to be deprived of human rights and democratic protection,” she said. “So we make sure that all the people in our coun-try are entitled to protection of their rights.”

Zaw Htay, the official spokesman for Myanmar’s central government, said that attacks by Muslim militants are not getting enough attention. As many as 100 Rohingya targeted 25 locations in late August, killing a dozen security personnel.

“In the international community, people are spreading fake news on social media,” Zaw Htay said. “Th ey don’t emphasise the killing; they only emphasise the clearance operation conducted by the security forces. We see this is not fair.” Myanmar security offi cials blamed members of the Muslim minority for setting

Tough positionSuu Kyi, who became Myanmar’s de facto leader after elections in 2015, has found her-self caught between a world worried about the fate of the Rohingya and local interests concerned about terrorism.

Publicly criticising the violence in Rakhine risks hurting the popularity of her National League for Democracy (NLD) and could upset Myanmar’s former military rulers who still have signifi cant power, said David Dapice, a fellow and economist of the Myanmar Program at the Ash Center in the Harvard Kennedy School.

UN Secretary-General Antonio Guterres last Tuesday warned that Myanmar faced the risk of ethnic cleansing. He demurred on a question on whether Suu Kyi should speak out more against human-rights abuses, saying the UN wants “a Myanmar where the Rohingya population will see their rights fully respected.”

An open letter by anti-apartheid social activist Archbishop Emeritus Desmond Tutu to Su Kyi said: “In my heart, you are a dearly beloved younger sister. For years, I have a picture of you on my desk to remind me of the injustice and sacrifi ce you endured out of your love and commitment for Myanmar’s people. You symbolised righteousnes ...”

“My dear sister: if the political price of your ascension to the highest offi ce in Myanmar is your silence, the price is surely too steep. A country that is not at peace with itself, that fails to acknowledge and protect the dignity and worth of all its people, is not a free country.

“As we witness the unfolding horror, we pray for you to be courageous and resilient again. We pray for you to speak out for jus-tice, human rights and the unity of your people,” Tutu said.

At home, Suu Kyi risks losing support if she even acknowledges that Myanmar has a Rohingya population — something the junta never did.

OverwhelmedFive UN agencies are working with aid

groups to help Rohingya who have fl ed, Rob-ert Watkins, the resident coordinator in Bangla-desh, said by email. Th e most urgent needs in-clude fi nding space for shelter in a border area.

“We are of course overwhelmed at this mo-ment by a quickly evolving situation,” he said.

While Rakhine currently attracts very little onshore foreign investment, mainly due to its remoteness, the perception of increased secu-rity risks will reinforce its unattractiveness for investors, said Vicky Bowman, director of the Myanmar Centre for Responsible Business in Yangon. Most aff ected are companies dealing with tourism and oil and gas, she said.

Still promisingForeign investment plunged 30% last fi scal year after overseas investors pumped a re-cord US$9.5 billion into the economy in the preceding 12 months. Th e investment short-fall coincided with concern over the direction of the government’s economic agenda and increased attention over Rakhine.

Myanmar still has a bright economic outlook as it builds off a low base. Th e Asian Development Bank forecasts growth at 7.7% for 2017 and 8% in 2018.

Bosher at Yoma Bank, which in June an-nounced a two-year partnership with the Netherlands’ Rabobank Groep to off er fi nan-cial products targeting agriculture, said that investors in emerging markets are used to doing business in countries with ethnic strife.

“Th e promise of Myanmar has not been dulled by this,” Bosher said. “Everyone with a conscience is unhappy about it. But — with-out any moral consideration, purely from a commercial point of view — this crisis has very little bearing on the commercial opportunities of Myanmar. I’m not necessarily happy about that, but that’s the way it is.” — Bloomberg

fi re to their own homes and vehicles in a tour of a still smouldering Rohingya village last Th ursday, according to the Associated Press.

Many of the country’s 53 million people view the 800,000 Rohingya, who are denied citizenship, as illegal migrants from what is now Bangladesh.

F O C U S 1 7MONDAY SEPTEMBER 11, 2017 • THEED G E FINANCIAL DAILY

Filepic of the Sule Pagoda in Yangon. Poverty persists in Myanmar; real growth has slowed and the currency has tumbled as foreigners defer their investment plans. Photo by Bloomberg

BY K A R L L E S T E R M YA P

MYANMAR’S economy is among the glob-al pacesetters in terms of growth. By most other measures, it is one of the laggards — a legacy of fi ve decades of isolationist mil-itary rule. Th e optimism that greeted the Southeast Asian country’s opening up to the world has been tempered by economic realities, even after Aung San Suu Kyi’s party formed a new government last year. Pover-ty persists; real growth has slowed and the currency has tumbled as foreigners defer their investment plans.

1) What happened to the fl ood of overseas investment?Foreigners pumped in a record US$9.4 bil-lion in the year though March 2016, up from less than US$2 billion fi ve years earlier, when the junta began to loosen the political reins. But the fl ow has stemmed, with investment down to US$5.8 billion with two months of the current fi scal year uncounted. Th e main reason: Businesses put their plans on hold in anticipation of clearer economic policies from the new government. Some investors were put off by international condemnation of the treatment of the country’s Rohingya Muslims, which has led human rights groups to criticise Suu Kyi and is a reminder that the generals still hold great sway. And there was a backlog in approving investment during the switch of power.

2) So this is just a pause?Probably. The attractions for investors re-main: a low-wage population of 54 million people hungry for goods, services and better infrastructure, and the proximity to the giant

WHILE international pressure mounts upon Nobel peace prize winner Aung Sun Suu Kyi to stop what some are calling war crimes, Myan-mar’s army chief has continually defended his forces’ actions against the Rohingya people.

A recent report by online web portal, Th e Independent, said Senior General Min Aung Hlaing — who was speaking at a recent press conference in the country’s capital — had blamed the crisis on the need to complete “unfi nished business” left over from World War Two. Th e report said — without absolving the present Myanmar government of responsibility for what is happening in the country — that looking at the nation’s history it is important to see how colonialism laid the groundwork for what appear to be ongoing massacres.

“In 1948 British Rule ended in Burma; the military regime thus began to create a new sense of nationhood, during which the scapegoating of the Rohingya started man-ifesting within the Myanmar public. Visi-bly diff erent from the Burmese due to their darker skin colour and religion, the popular myth is that Rohingya communities came from Bangladesh. In fact though, they have deep historical and ancestral roots belong-ing to the postcolonial borders of Myanmar.”

Similarities with Bangladeshi communi-ties is natural due to Arakan neighbouring the Bangladeshi province of Chittagong: indeed, the separation of these provinces and the implementation of borders were a product of colonial rule.”

Th e British had actually promised inde-pendence, said Th e Independent report, to the Rohingya during the war with Japan, though the promise was subsequently revoked. Pre-dicting the escalating tensions between the Rohingya and other Burmese ethnic commu-nities, some Rohingyas had even petitioned

for inclusion into East Pakistan (now known as Bangladesh) during the 1947 partition.

Th e article by Th e Independent did not go into the details of postcolonial identi-ties — as no factors should on any grounds de-legitimise the Rohingyas right to citi-zenship today or their entitlement to basic humans rights within Myanmar.

According to the report, the historical progression of the present persecution could be traced back to 1962 when a mili-tary coup swept to power.

In order to establish a mandate for them to rule, the military began to use religion as an indication of whether one was a proper citizen of the state, exploiting Buddhism to justify their nationalism.

Th e Independent report said in 1974, the Rohingya had their identity stripped and were classifi ed as “foreigners” by the state. Th is led to large numbers of Rohingya fl eeing to neighbouring countries.

In 1982 the Citizenship law was enacted,

which not only excluded the Rohingya from attaining citizenship but also denying them the right to live in Myanmar unless they had solid evidence to show their ancestors lived there prior to independence — even though such citizenship documents for most communities are impossible to obtain.

Known as illegal Bangladeshi immi-grants, the report said Myanmar authori-ties had refused to use the term Rohingya, legitimising the systematic erasure of the Rohingya as an identity.

According to Th e Independent report, in 2013, Win Myaing, the offi cial spokeman of the Rakhine State Government said: “How can it be ethnic cleansing? Th ey are not an ethnic group.”

By referring to them as Bangladeshi Mus-lims the state not only presents them as a symbol of Muslim invasion (which is seen as a global problem) but also as the “Ben-gali Muslim”, which has been constructed as an ethnically inferior identity and used throughout the Indian subcontinent to justify and legitimise genocide, whether within the Bangladeshi Liberation War or the Nellie massacre in Assam, India.

Th e report went on to say: “Violence has been escalating dangerously after the 2012 Rakhine State riots, with thousands killed and more than 125,000 Rohingya Muslims displaced. Since then more than 140,000 Rohingya have been forced to fl ee Myanmar altogether, becoming refugees in neighbouring countries, facing diff erent levels of prejudices within Bangladesh, India, Th ailand and Malaysia. Earlier this year more than 1,000 Rohingya were killed in a new crackdown by the Myanmar state, the report said, quoting UN offi cials. Th e Rohingya also describe military tactics of

systematic rape being used against them.”Th e Independent’s report said: “Myanmar’s

government and military now stand accused of war crimes. Th e international communi-ty meanwhile refuses to act; and the British government has blood on its hands after sell-ing more than £500,000 worth of weapons to Myanmar over the past three years.”

It said the Rohingya needed urgent action; most were living in refugee camps, denied cit-izenship, basic healthcare and employment.

Th e Independent’s report went on to blunt-ly say: “Th e destruction of an ethnic group is genocide and the continual indiff erence by the international community only enables and legitimises Myanmar’s violence.”

Bernama reported last Th ursday that the Organisation of Islamic Cooperation (OIC) secretary-general Dr Yousef Al-Othaimeen had urged the European Union and UN agencies to take decisive action to alleviate the suff ering of the Rohingya people and end the ongoing crisis in the Rakhine State of Myanmar.

Th e OIC in a statement said that Al-Oth-aimeen had addressed the matter in sep-arate letters to the High Representative of the European Union for Foreign Affairs and Security Policy, Federica Mogherini; UN High Commissioner for Human Rights, Zeid Ra’ad Al Hussein; and UN High Com-missioner for Refugees Filippo Grandi.

On the issue of continuous oppression of the Rohingya Muslim minority in Rakh-ine, Myanmar should be brought to the UN in order to fi nd solutions, said Malaysia’s Deputy Foreign Minister Datuk Seri Reezal Merican Naina Merican.

According to the Bernama report Reezal said Malaysia could not act alone as it re-quired the cooperation of other countries to help solve the problem.

Western colonialism created the blueprint for Rohingya genocide in Myanmar

Senior General Min blamed the crisis on the need to complete ‘unfi nished business’ left over from World War Two.

Booming Myanmar gets a crash course in capitalismmarkets of India and China. Add to that the US lifting of the last of its decades-long sanctions late last year. Th en there is Nobel Peace Prize winner Suu Kyi’s star appeal, which she put to use on a 2016 promotional tour that took in China, India, Japan, the UK and the US.

3) Any new legislation coming?An investment law that will make it easier for foreign companies to gain tax incentives and a companies law that will allow overseas in-vestors to buy up to 35% equity in local fi rms before they’re considered foreign-owned.

4) What about the economy?Some are concerned whether Suu Kyi, the de facto head of government, and her Na-tional League for Democracy party are up to the task of managing the US$63 billion (RM265.23 billion) economy. But growth continues at breakneck speed: the World Bank forecasts expansion of about 7% per year through 2019. Infl ation has wiped off some of the gloss, but is expected to ease.

5) Is life changing for the better?Not always. Slums are expanding as villagers fl ock to the cities for work, with 41% of the urban population now living in shantytowns. And for those with a home or business, soar-ing rents are squeezing tenants who must pay six months’ or a year’s rent upfront. Myanmar scores badly on economic basics such as life expectancy (65.8 years) and child mortality (72 deaths per 1,000 before the age of fi ve versus a regional average of 30). A quarter of the popu-lation live below the poverty line. Substandard road and port infrastructure and access to elec-tricity remain challenges in an economy that is reliant on minerals, oil, gas and agriculture.

7) Why is the currency suff ering?Th e drop in foreign investment and slowing exports widened the current account defi cit, plunging the kyat to its lowest level in De-cember since the exchange rate regime was liberalised in April 2012. Th e central bank has little ammunition to fi ght the decline, with just US$5 billion of estimated reserves. Th e diff erence between the offi cial rate and the informal market rate has grown and pol-icymakers have reacted by limiting dollar cash withdrawals.

8) What about stocks and bonds?The Yangon Stock Exchange, now a year old, is home to just four companies. Foreign investment in stocks is forbidden (offi cials plan to change that) and an investor must physically go to the market or speak with a broker to execute a trade. Deals worth more than US$8,000 have to be approved by the securities commission, which is known to reject many such trades. Eff orts are under-way to develop the domestic debt market, with the government recently expanding Treasury bill auctions through the introduc-tion of six- and 12-month bills. Authorities started bond auctions in September 2016.

9) Can Myanmar overcome the hurdles?As the US Chamber of Commerce put it: “Th e process of registering and operating a foreign entity in Myanmar is opaque and the legisla-tive and regulatory climate is, at best, uncer-tain.” But as Tom Platts, head of Stephenson Harwood LLP’s Myanmar practice, added: “You cannot revamp the political, legal, so-cial and economic infrastructure of a coun-try overnight, particularly one with as many complexities as Myanmar.” — Bloomberg

6) What should the government do?Th e World Bank says the government’s “over-arching priority” is to strengthen the clarity, communication and credibility of economic policies. It called for the release of an eco-nomic vision that balances fi scal prudence and the need to expand public services. The International Monetary Fund wants the central bank to phase out fi nancing of the fi scal defi cit and employ more proac-tive liquidity management. More broadly, some critics argue Suu Kyi has taken on too much and needs to delegate some of her responsibilities.

1 8 H O M E B U S I N E S S MONDAY SEPTEMBER 11, 2017 • THEEDGE FINANCIAL DAILY

1 S P Setia deputy president and chief op-erating officer Datuk Wong Tuck Wai (centre) receiving a token of appreciation from global bike-sharing company Mo-bike vice-president (VP) of international expansion Chris Martins at Setia Alam and Setia Eco Park in Shah Alam on Sept 6. Also seen in the picture is S P Setia ex-ecutive VP Datuk Koe Peng Kang (left).

2 (From left) Citibank Malaysia country head retail banking, mortgages and wealth management Rakesh Kaul and consumer business manager Elaine Fan, together with Templeton Emerging Markets Group executive chairman Dr Mark Mobius and country head of Malaysia Avinash Satwal-ekar at the launch of an enhanced Citigold offering, its premier relationship banking

account, which delivers a more person-alised and digital experience, in Kuala Lumpur on Sept 7.

3 (From left) Sultan of Perak Sultan Nazrin Muizzuddin Shah, Sunway University pro-chancellor professor Tan Sri Dr Lin See Yan, and Jeffrey Cheah Foundation founding trustee and Sunway University chancellor Tan Sri Dr Jeffrey Cheah at the launch by Sultan Nazrin of Lin’s second book Turbulence in Trying Times. What Are We to Do? at Sunway University in Bandar Sunway, Subang Jaya on Sept 8.

4 A ribbon-cutting ceremony to officiate the launching of Kelantan Pavilion un-der the Malaysia Airports Holdings Bhd (MAHB) Joyful Malaysia initiative with

Kelantan Tourism in Sepang, Selangor on Sept 10. Seen here were (from left) Culture, Tourism and Heritage Kelantan chairman Mejar (R) Datuk Md Anizam Ab Rahman (front row, second from left), his wife Datin Nor Asikin Ahmad (extreme left), MAHB managing director Datuk Badlisham Ghazali (front row, third from left) and wife Datin Rogayah Ibrahim, and MAHB senior general manager Zainol Mohd Isa (extreme right).

5 Veritas Design Group celebrated its 30th anniversary in Kuala Lumpur recently. From humble beginnings as a small archi-tectural practice in Kuala Lumpur, and later in Penang and Johor Baru, it has expand-ed throughout the region and is said to be one of Asean’s largest multi-disciplinary

design practices. Seen here were Federal Territories Minister Datuk Seri Tengku Adnan Tengku Mansor, who was guest of honour at the anniversary celebration function together with the principals and executive committee of Veritas.

6 CIMB Foundation chairman Tan Sri Md Nor Yusof (second from left), Squash Rac-quets Association of Malaysia president Huang Ying How (second from right) and team manager and coach Andrew Cross (extreme left) with the CIMB Foundation Junior Squash Development Programme players and champions of the Asian Jun-ior Individual Championships, Amman, Jordan and recent SEA Games 2017 at an appreciation dinner held by CIMB Foun-dation in Kuala Lumpur recently.

WEEK IN FOCUS

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TM-IRDA MOU ... Telekom Malaysia Bhd (TM) deputy group chief executive offi cer (CEO) Datuk Bazlan Osman (right) exchanging documents with Iskandar Regional Development Authority (IRDA) CEO Datuk Ismail Ibrahim in Kuala Lumpur on Sept 7 after the signing of a memorandum of understanding (MoU) between the two companies to drive smart solutions in Iskandar Malaysia. Looking on is Prime Minister Datuk Seri Najib Razak (centre).

H O M E B U S I N E S S 1 9MONDAY SEPTEMBER 11, 2017 • THEED G E FINANCIAL DAILY

7 Mah Sing Group chief sales officer Gerard Yuen (left) and chief executive officer Da-tuk Ho Hon Sang showcasing recently Mah Sing’s RM23 million Rewards Reloaded plus Rush for Your Gold campaign which runs from Sept 1 to Dec 31 in Kuala Lumpu. Mah Sing is giving out a total of 75 gold bars to eligible customers who purchase one of the group’s properties. Customers stand a chance to take home one of the two grand prizes which are 200gm pure 999 gold bars.

8 Eco World Development Group Bhd (EcoWorld) opened its latest sales gal-lery, the EcoWorld Gallery @ Eco Forest, Semenyih in Selangor on Sept 9. Eco For-est is the group’s second development in the vicinity, following Eco Majestic de-velopment which was launched in 2014.

The developer also took the opportunity to unveil its show village featuring eight show units. Seen here was Team EcoWorld (in white uniform) with invited guests and members of the public at the Sept 9 event.

9 Telekom Malaysia Bhd (TM) and Grab signed a memorandum of understanding (MoU) covering three areas of potential collaboration, which include utilising GrabforWork, Grab’s corporate transport management solution for both TM Group employees and customers, providing more convenience and added mobility to their lifestyle. Seen at the MoU sign-ing here recently were (from left) Grab Malaysia head of sales (Grab for Work) Casey Chung, TM chief digital officer Ahmad Azhar Yahya, Grab co-founder

Tan Hooi Ling, Webe Digital Sdn Bhd chief executive officer Moharmustaqeem Mohammed, TM New Media executive vice-president Jeremy Kung, and Grab Malaysia head of business development Tan Jiong Jian.

10 AirAsia Group Bhd chief executive officer (CEO) Tan Sri Tony Fernandes

(third from right), AirAsia X Group CEO Datuk Kamarudin Meranun (third from left) and AirAsia Big Loyalty CEO Datuk Eddy Leong (centre) launched AirAsia’s Freedom Flyer Programme in Sepang, Sel-angor on Sept 8. The programme is aimed at making it easier, faster and better for loyal guests to earn AirAsia Big Points. Also present at the launch (not in the photo) were AirAsia Malaysia CEO Aireen Omar,

AirAsia X Malaysia CEO Benyamin Ismail, AirAsia Philippines CEO Captain Dexter Comendador, AirAsia India CEO Amar Abrol, AirAsia China president Kathleen Tan and AirAsia Group chief commercial officer Siegtraund Teh.

11 (From left) I-Bhd executive chairman Tan Sri Lim Kim Hong and Second

Minister of International Trade and In-dustry Datuk Seri Ong Ka Chuan at a recent progress development briefing by Central Pattana Plc (CPN Thailand) executive vice-president Dr Nattakit Tangpoonsinthana and CPN Malaysia chief operating officer Anthony Dylan at CPN Thailand’s maiden international project Central i-City Shopping Centre which is slated to open in October 2018.

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

MONDAY SEPTEMBER 11, 2017 • THEEDGE FINANCIAL DAILY

PersonalASSISTANTC O M P I L E D BY S H A L I N I Y E A P

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

JAZZ band MJQ and Kirana Kay will be per-forming at No Black Tie tonight. Unwind to the band’s jazzy beats with Tay Cher Siang (piano), Julian Chan (saxaphone), Seiichi Fukuyama (bass), Eddie Wen (trumpets) and Toru Watanabe who make up the band. Kay is known for her modern contemporary rep-ertoire of jazz, pop rock, traditional Malay songs, R & B and soul. Tickets are priced at RM53 (cover charge) and RM183.30 (dinner concert) for the 9pm show at 17 Jalan Mesui, off Jalan Nagasari, Kuala Lumpur. Visit www.noblacktie.com.my or call (03) 2142 3737 for more information.

UNPARALLELED Eye Beyond Sight is a joint exhibition by young artists Aimi Atikah and Nik Mohd Shahfi z which sees artists use met-aphors and symbolism in their storytelling to create meaning based on their experienc-es. View their artworks at G13 Gallery, GL13 Ground Floor, Block B Kelana Square, SS7/26 Kelana Jaya, Petaling Jaya. Admission is free. Visit www.g13gallery.com or call (03) 7880 0991 for more information.

SAVOUR a generous buff et spread of Middle Eastern cuisine at One World Hotel’s Cinna-mon Coff ee House all this month. Some of the dishes are hummus, tabbouleh, bamieh, shor-bet adas, lamb kabsa with cous cous, shish tawook chicken, kofta beef, bak-lava, fatayeh and turmeric cake, just to name a few. There will also be a rich va-riety of Japanese, Western, Chinese, Malay and Indian cuisine to choose from. The Arabi-an Night promo-tion is priced at RM118 nett per adult and RM59 nett per child (aged six to 12 years old) and available from 6.30pm to 10.30pm daily. Call (03) 7681 1157 or email to [email protected] for reservations and further enquiries.

RED-CARPET READYTh ere were quite a few gorgeous outfi ts that made their debut during the Venice Film Festival from Aug 30 to Sept 9. Here are our picks of some of the best. Compiled by Anandhi Gopinath

Alessandra Ambrosio in Alberta Ferreti.

Ethan Hawke in Jaeger-LeCoultre’s Master Ultra-Thin Moon. Amal Clooney in Versace.

Penelope Cruz in Versace. Isabeli Fontana in Chopard jewellery.

Jennifer Lawrence in Dior.

Soo Joo Park in Iris Van Herpen.Rita Hayek in Jaeger-LeCoultre’s Reverso One Duetto Moon.

live it! 21

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

MONDAY SEPTEMBER 11, 2017 • THEED G E FINANCIAL DAILY

CARS BY H A N N A H E L L I OT T

This US$208,800 convertible is your next step after a Porsche 911ON the rarefi ed shores of Monterey Bay dur-ing Pebble Beach car week, it takes a lot to get noticed. Leave your modern-day Mercedes and BMW at home, smooth as they may be.

One thing that will get attention is the latest car from McLaren, the 570S Spider. I know because when I drove it on a certain curve along Monterey’s Laureles Grade re-cently, a group of fanboys gathered to shoot it as I passed by, and when I got out to pho-tograph the car myself, they swarmed it like bees to honey.

No surprise. Th e US$208,800 (RM876,960) hardtop convertible is sculpted like a marble Venus and can hit 60mph (96.56kph) in 3.1 seconds. It’s fresh, fi erce meat on the auto market. And it’s going to be the British racing brand’s biggest seller in 2018.

The star leading the chargeNext year is going to be huge for McLaren. Six years after it opened a dealership in New-port Beach, California, awareness stateside has reached an all-time high: Global sales doubled after the debut of the US$200,000 570S last year, with North American sales surpassing 1,000 cars for the fi rst time, an increase of 106% since 2015. Th e brand an-nounced its fourth consecutive year of profi t-ability for 2016 and growth across all regions worldwide; total sales hit 3,286 cars last year, up from 1,654 in 2015.

According to registration data from IHS Markit, the biggest group of buyers is just the right set: Porsche owners. Dealers report that wait lists for new models have reached as long as six months.

Th ere are two reasons why it’s great for the Woking, England-based marque that many Porsche enthusiasts are hoping to add a McLaren to their stable. First, Porsche drivers are extremely discerning and devoted when it comes to pure driving performance. Th ey don’t settle for empty, fl ashy looks with an imposing price tag. Second, those buyers who own top-tier Porsches are also likely able to aff ord a McLaren. Th e 570S starts at a price point just about where most of the higher-tuned 911s leave off — and that’s no accident.

But I digress. This piece is about the pre-production, Sicilian yellow 570S Spi-der that was such a treat for me to drive, even among the other thrilling press cars I tested in the same weekend. For a further chill up your spine and rattle in your ribs, you will want to splash out for the US$285,000

McLaren 720S. But that one is sold out until next summer, and the 570S Spider is better suited as a daily driver anyway.

The ‘practical’ McLarenTh e 570S Spider comes with a 562hp, 3.8-li-tre twin-turbo V-8 engine and a rear-wheel-drive, seven-speed gearbox. And it weighs just 2,895 pounds (1,313kg) at its lightest (no gasoline or other fl uids), hundreds of pounds less than even an entry-level 911 Carrera. Its top speed is 204mph, or 196mph with the top down.

I didn’t take it to 204mph on the windy roads around Monterey — big surprise. But I can vouch for the immediate, stirring, seam-less acceleration you will feel the instant you press the pedal. Rather than barrelling down the road or lunging forward like a monster, the car feels integrated into the asphalt it-self, gliding past mile markers like a Learjet. Do not buy the 570S if you are a hesitant driver; the two of you will fi nd yourselves incompatible.

Th at said, this is the most practical of any car McLaren sells. Its Ultimate Series cars, like the US$3 million P1 GTR, are ruthless objects built for the track. Th e Super Series includes cars like that 710hp 720, which is street-legal but most at home on a track — away from potholes and police. Th e base-lev-el Sport Series, on the other hand, off ers an

eased suspension, more creature comforts, higher clearance and better fuel effi ciency (16mpg [6.80kpl] in the city; 23mpg on the highway), which allow for comfortable dai-ly driving. Normal, Sport, and Track modes help even out the diff erence between city and highway routes. Th ere’s even an extra storage compartment behind the headrest available when the top is deployed.

Th e 570S Spider in particular is special because it uses the same exact carbon-fi -bre MonoCell II structure and engine as the coupe version, which means it drives with the rigidity and responsiveness of a coupe — rather than the less nimble feel that can come with many convertibles. Although it’s US$20,000 more, it will certainly outsell the coupe version of the 570S. Consider the US$203,000 Porsche 911 Turbo S Cabriolet and US$177,100 Audi R8 V-10 Spyder its closest competitors.

Just the beginningInside, thank goodness, McLaren has cured its former technological weaknesses (weird fonts and colours on the lackadaisical, not-in-tuitive touchscreen, namely). Primary inte-rior components such as the steering wheel, window switch and central seven-inch info-tainment screen sparkle in a black metallic fi nish. Front and rear parking sensors and a decent rear-view camera come standard, as

do voice control, Bluetooth/USB compati-bility and a four-speaker audio system that could be enhanced a bit, truth be told. (You are going to want those parking cameras for sure, particularly for a small blind spot over your left shoulder as you hit reverse.)

Th e seats are deep and fi rm; the head- and legroom are ample enough for those who are 6ft or taller. Carbon fi bre through-out pushed the price of the one I drove to US$240,000.

In fact, the design of the car excels both inside and out, especially the lightness of the twin-hinged dihedral doors, which open with the gentle press of a single fi nger. I also appreciated that the rear window could be left up or down depending on driver prefer-ence, unlike a few other convertibles I have driven lately.

As expected, the 570S comes with a fi xed rear spoiler 12mm taller than the one on the coupe, a rear diff user, aero blades, a front splitter and carbon ceramic disc brakes, but for all that — plus Pirelli P Zero Corsa tyres with 10-spoke alloy wheels that act like jewellery — it manages to stop just short of looking gaudy.

If you splurge on anything, make it the US$4,090 sport exhaust package (to your neighbours: “Sorry not sorry”) and the US$6,800 luxury pack that includes pow-er-adjustable heated sport seats, an adjust-able steering wheel, soft-close doors, and a Bowers & Wilkins 12-speaker audio system. Th ose are essentials anyway. (McLaren also unveiled three exclusive colours for the 570S Spider. I really liked the Curacao blue option; the jet black and Sicilian yellow one I drove costs an additional US$3,110.)

Want one? Don’t delay. Th ey go on sale this month. It won’t be the most collectible McLaren ever — that status belongs to those in the upper echelons of performance and price, but it will be the McLaren you actually drive. And love.

What’s more, the brand is spending US$1.24 billion on research and develop-ment over the next six years, with plans to introduce 15 all-new cars or derivatives of existing cars in that time frame. One will be a fully electric concept car, which, if it goes to production, will be even more of a game changer for the brand than the Sport Series has been.

So, there’s going to be plenty to see. Th e McLaren 570S Spider is just a fraction of it. Stay tuned. — Bloomberg

The dihedral doors swing open lightly with the push of a button. Photos by Bloomberg

The interior is cased in Alcantara and supple leather, with ample headroom and legroom. The McLaren 570S Spider is an exceptional car that’s capable of keeping up with Ferrari but useful as a daily driver.

2 2 F E AT U R E MONDAY SEPTEMBER 11, 2017 • THEEDGE FINANCIAL DAILY

Merkel and the refugeesHow a German leader emerged from political abyss

BY N O A H B A R K I N

Near the end of a recent campaign speech in northern Germany, Chancel-lor Angela Merkel (pic) turned to Eu-

rope’s refugee crisis of 2015 and offered her audience a comforting dual message.

Germans should be proud of the warm welcome they gave hun-dreds of thousands of asylum seek-ers, many of them fl eeing war and persecution in the Middle East, she told an audience of over 1,000 gathered in the fi shing village of Steinhude.

Th en she shifted gears: “What happened in 2015 cannot, should not and must not happen again.”

It is a phrase she has used re-peatedly in market squares across Germany as she campaigns for a fourth term in a federal election on Sept 24 that she is widely ex-pected to win. Two years since she opened Germany’s borders to asy-lum seekers to avert what she says was a looming humanitarian dis-aster, and saw her popularity slide as a result, Merkel has climbed her way out of the deepest hole of her political career.

There are many factors behind her comeback. But few are as im-portant as her skill at spinning a narrative about the refugee cri-sis that many Germans can sup-

port, whether they cheered or condemned her actions of 2015.

“Merkel is not running on a policy of open borders, and that fi ts perfectly with the mood in the country,” said Robin Alexander, the author of a bestselling book on the German government’s handling of the refugee crisis.

“Many people like the image of Germany as a model of humani-tarian virtue. But they know the country could not continue to welcome refugees like it did. It is this set of feelings that Merkel is appealing to.”

By end-2015, 890,000 asylum seekers had entered Germany, many without proper identity checks. Merkel’s actions divided Europe and led to a surge in anti-immigrant sentiment. The hard-right Alternative for Germany (AfD) party seems sure to enter par-liament for the first time.

A year after her de-cision, her populari-ty rating had plunged 30 points to 45% and she faced questions about whether she would run for chancellor again. Yet to-day, 63% of Germans say she is doing a good job

and, according to a Bertelsmann Foundation survey last week, 59% believe the country is on the right track. One of her top aides said: “We have gotten to a point where the refugee issue is no longer a negative for Merkel.”

No alternativeMerkel has been helped by ex-ternal events such as Brexit and Donald Trump’s US presiden-tial election victory, which rein-forced her appeal as a guarantor of stability.

A decision by Macedonia in early 2016 to shut its border with Greece stemmed the fl ow of refu-gees, easing pressure on Germany.

It has not suff ered a large-scale Islamist attack. But

Merkel’s knack for un-derstanding how

Germans tick has also been crucial.

At many pub-lic appearances, she is confronted

by anti-immigration p r o t e s t e r s

w h o t r y to drown

out her speeches with whistles and chants of “Merkel must go”. But the protesters were dwarfed by supporters who applauded her message.

“I’m not sure if there was an-other way to handle the refugee crisis. Th ose refugees had to go somewhere,” said Willi Kordes, 70, who runs a sewage treatment fi rm in nearby Vlotho.

Working in her favour in the election is the fact that many of Germany’s other established par-ties, including the centre-left So-cial Democrats, led by her main challenger Martin Schulz, backed her open-door policy.

Th e AfD has come off its 2016 highs in the polls. Th e one main-stream party that has offered a hard-line alternative, the Christian Social Union (CSU), is the Bavarian sister party to Merkel’s Christian Democratic Union. A vote for the CSU is akin to a vote for Merkel.

Dirty workA crucial factor behind Merkel’s rebound has been the decline in asylum seekers entering Germa-ny. About 280,000 arrived in 2016, with another drop likely this year.

Merkel takes credit for this, pointing to a deal she brokered between the European Union and Turkey, under which Ankara has cut the number of migrants cross-ing into Europe via its territory.

But critics say the closing of Bal-kan borders — which Merkel pub-licly opposed — was the real driver.

Some see parallels with her be-haviour in the eurozone financial crisis, when European Central Bank president Mario Draghi’s pledge to do “whatever it takes” to keep the currency bloc togeth-er, allowing her to stick to a hard line towards euro states such as Greece.

In the refugee crisis, it has been countries like Macedonia, Turkey and Hungary — which shut down routes the refugees used — that have done Merkel’s “dirty work”, allowing her to maintain the im-age of a caring leader.

Some right-wing voters may have fl ed for the AfD, but polls suggest young, urban voters who traditionally lean left could fill the gap.

Germany’s economy has been strong enough to absorb the in-fl ux of refugees without big cracks emerging in society. In reaction to its Nazi past, Germany has emerged as a more open, toler-ant country than many assumed when the crisis hit.

A survey published this month ranking the top fears of the Ger-mans put terrorism at the top. But a separate poll for the Bild news-paper showed that they do not see curbing immigration as a priority. — Reuters

NEW YORK is one of the world’s most popular tourist destinations. Th ose from Taiwan love to experience fi rst-hand the city’s famous attractions — the Statue of Liberty, Times Square and, of course, the very nerve centre of global aff airs: Th e headquarters of the United Nations (UN).

Th ese landmarks are symbols of equality, diversity and freedom. Re-grettably, the brilliant lustre of these ideals has become tarnished of late as more and more visitors from Taiwan fi nd themselves being turned away from the UN grounds, discriminat-ed against simply because of their country of origin. Th e UN is about people, yet the universality of hu-man rights that the UN proclaims does not extend to Taiwan and its 23 million people.

Th is mistreatment dates back to 1971, when our government lost its representation in the UN. In the intervening decades, Taiwan has met with challenges and isolation with respect to its international sit-uation. Nevertheless, this adversity has propelled us forward and we have never retreated, for we believe that

Taiwan, a valuable partner for sustainable development goalsBY DAVID TAWEI LEE those who follow the path of virtue

can never truly be alone.As Taiwan’s foreign aff airs minis-

ter, I have always marvelled at how our experience in such areas as environmental protection, public health and medicine, agriculture, education, and information and communications technology has helped our partners develop and grow. We are committed to contin-uing our interaction and coopera-tion with our friends and partners, and to maintaining global peace, security and prosperity through mutually benefi cial collaboration.

Rejecting Taiwan runs counter to common senseDespite Taiwan’s eff orts and the recognition they have earned, the need for universality and repeated pledge to leave no one behind, the UN seems content to leave Taiwan behind. Th is May, Taiwan was re-fused attendance at the 70th World Health Assembly, despite having participated as an observer for eight consecutive years previously.

Rejecting Taiwan — which has invested over US$6 billion (RM25.2 billion) in international medical and humanitarian aid eff orts since 1996 — runs counter to common sense and creates a blind spot in

the World Health Organization’s operations, just like the one that cost lives during the 2003 severe acute respiratory syndrome epidemic. Th is unjust treatment has not deterred Taiwan from carrying out its duties to its people and the international community. Taiwan has brought its laws and regulations in line with the UN’s human rights conventions, and in terms of living up to democratic values, Taiwan has worked as hard as any country to advance equality.

Taiwan elected its fi rst female president in 2016, and 38% of its lawmakers are women. It is also home to a vibrant civil society whose civic organisations constant-ly reach out to the world.

Whenever disasters strike, res-cue workers from Taiwan’s non-gov-ernmental organisations (NGOs) are right there on the ground, pro-viding assistance. Taiwan is also working on its fi rst voluntary na-tional review, which will document many of its concrete achievements regarding the UN Sustainable De-velopment Goals (SDGs).

On public health and medicine, Taiwan has in recent years worked with other countries to fi ght such in-fectious diseases as the Middle East respiratory syndrome, Ebola and Zika.

Taiwan has also been promoting

a green economy and green ener-gy, aiming to raise the proportion of renewable energy generated for the country’s power supply to 20% by 2025, while also aiming to lower carbon emissions to at least 50% below 2005 levels by 2050.

Holders of Taiwan passports en-joy visa-free travel or other forms of travel convenience to 165 countries and territories. Yet, they are unable to take even a single step inside the headquarters of the UN.

For years, representatives of Taiwan’s many NGOs involved in indigenous, labour, environmen-tal and women’s rights have been barred from attending meetings and conferences held at the UN’s New York headquarters and at the Palais des Nations in Geneva. Tai-wanese journalists are not allowed to cover UN meetings in person.

PRC exerts far more infl uence on UN than it does on TaiwanThese discriminatory measures put in place by UN bureaucrats — targeted specifically against the people of Taiwan — are inappro-priately justifi ed by the invocation and misuse of 1971’s General As-sembly Resolution 2758 (XXVI).

While it seated the People’s Re-public of China (PRC) in the UN,

this resolution did not address the issue of representation of Taiwan and its people in the UN; much less did it give the PRC the right to represent the people of Taiwan.

Th e PRC does not now, nor has it ever, held jurisdiction over Taiwan. Evidenced by the ban on Taiwan-ese inside the UN headquarters, the PRC exerts far more infl uence on the UN than it does on Taiwan.

Th e preamble of the UN Char-ter speaks powerfully of the UN’s mission to “reaffi rm faith in funda-mental human rights, in the dignity and worth of the human person, in the equal rights of men and wom-en and of nations large and small”.

Taiwan believe its involvement, especially when the UN is calling for the universal implementation of the SDGs, would benefi t all. Our absence will continue to cripple the eff ectiveness of this global eff ort.

Taiwan can do much to help the world build a more sustainable fu-ture. Our people need the interna-tional community to support our aspirations and right to fair treat-ment by the UN. At the very least, stop turning us away at the door.

Dr David Tawei Lee is Taiwan’s foreign aff airs minister.

S P O RT S 2 3MONDAY SEPTEMBER 11, 2017 • THEED G E FINANCIAL DAILY

Arthur Ashe Stadium a monument 20 years laterUS Open has celebrated its diversity and tolerance on and off the court

Hansen : Scrumhalf Smith back to speed up All Blacks game WELLINGTON: Scrumhalf Aar-on Smith will return to the All Blacks’ starting side for their Rugby Championship match against a resurgent South Af-rica in Auckland on Saturday in an attempt to speed up the world champions’ game. TJ Perenara started in the No 9 shirt against the Pumas on Sat-urday in New Plymouth and the All Blacks scored six tries in the 39-22 victory, but coach Steve Hansen said he felt Smith would give them more oppor-tunities against the Springboks. “I think we saw there is a diff er-ence between the speed of ball when Aaron’s there,” Hansen told reporters in New Plymouth yesterday. — Reuters

Hickey resigns fromIOC executive boardamid ticket scandalWELLINGTON: Ireland’s former Olympic chief Pat Hickey has resigned from the Internation-al Olympic Committee’s (IOC) executive board after becom-ing embroiled in a ticket-selling scandal at last year’s Rio Games. Hickey, 72, was arrested by Bra-zilian police during the Games and held in jail. He was even-tually released on bail after the Association of National Olym-pic Committees loaned him the money to allow him to return to Ireland. He has maintained he is innocent of all charges. Hickey’s trial has been set for late Novem-ber, Irish media reported last week. — Reuters

India recall pacemen Umesh, Shami forAustralia ODIsMUMBAI: India have re-called fast bowlers Moham-med Shami and Umesh Ya-dav for the fi rst three one-day internationals (ODIs) against Australia while they continue to rest their front-line spin-ners. Yadav and Shami were part of the test squad which blanked Sri Lanka 3-0 but were rested from the subsequent fi ve-match ODI series, which the tourists also swept. Fast bowler Shardul Th akur, who played two matches in the se-ries and took a single wicket, was dropped from the 16-man squad for the series against Australia. — Reuters

Cheika wants Wallabies to channel Beale’s attitudeSYDNEY: Australia coach Mi-chael Cheika is hoping the at-titude of Kurtley Beale rubs off on some of his teammates as the Wallabies head to Canberra still looking for their fi rst win of the Rugby Championship. Th e livewire centre returned to the green and gold for the competition after injuries and a spell in England kept him out of test rugby for the better part of two years and he has been a revelation. His third try in as many games won him the Man

of the Match award in Perth on Saturday — Reuters

I N BR I E F

Th ompson races away from Ko to win Indy eventBY G E N E C H E R RY

BY D AV E J A M E S

RALEIGH: American Lexi Th omp-son won her fi nal-round showdown with joint overnight leader Lydia Ko, racing away from the former world No 1 to clinch the Indy Women in Tech Championship by four strokes on Saturday.

Th ompson fi red a four-under 68 at the Brickyard Crossing Golf Course to fi nish with a 19-under to-tal of 197 and hit peak form ahead of Evian Championship in France.

“It’s a big confi dence booster go-ing into the last major of the year,” said Th ompson, who is projected to improve to second in world rankings.

“I knew my game was in a good spot. I really committed to my shots this week (last week) and had some fun.”

Ko shot a 72 to fi nish outright second, one stroke ahead of Aus-tralia’s Minjee Lee, the New Zea-lander’s challenge fading with a double-bogey at the par-four 11th.

Holding a four-stroke lead, Th ompson’s drive found water at the 16th but the bogey did noth-ing to stop the 22-year-old from South Florida as she birdied the par-four 18th to capture her ninth LPGA victory.

She opened the three-day tour-nament with an eye-catching 63 and followed that up with a 66 for her second win of the year.

In keeping with the theme of the Indy 500, Th ompson took a pair of victory laps around the famed oval next to the course, joining Indian-apolis Motor Speedway president Doug Boles in a pace car. — Reuters

Thompson celebrating with her trophy after winning the Indy Women In Tech Championship at the Brickyard Crossing Golf Course in Indiana, the US on Saturday. Photo by AFP

NEW YORK: Rafael Nadal could wrap up a 16th Grand Slam title and third at the US Open (Malay-sian time at 4am today) but has to fi nd a way past the almost un-breakable spirit of South Africa’s Kevin Anderson.

Th e 31-year-old Spaniard, who captured a 10th Roland Garros in June and was runner-up to Roger Federer at the Australian Open in January, was the overwhelming favourite.

He was the world No 1 playing in his 23rd Slam fi nal and who won his fi rst major as a 19-year-old at the sixth attempt.

Anderson, two weeks older, was playing in his fi rst fi nal at the Slams after a career stretching 32 majors.

Nadal’s 73 career titles also dwarfed Anderson’s modest three.

But the Spaniard was wary of

Nadal eyes sweet sixteen against Anderson

NEW YORK: When Sloane Stephens and Madison Keys walked into Ar-thur Ashe Stadium on Saturday for their US Open fi nal, they passed by a small but weighty notice stamped on the court: “Arthur Ashe Stadi-um 20 Years”.

It was not something they would have paid much heed to, if any, but just as it was 20 years ago when Chanda Rubin played the first match on the renamed show court, the signifi cance will manifest itself in years to come.

As racial tensions fl are across

the US, the US Open has celebrated its diversity and tolerance on and off the court.

It was 60 years ago that Althea Gibson won her fi rst US Open and 20 since the biggest stage in tennis was renamed to honour Arthur Ashe, the player, humanitarian and activist.

Those efforts to open up the sport were dramatically reflect-ed in last week’s American sweep of all four spots in the women’s semi-fi nals. Two of those players — Venus Williams and Stephens — are African-Americans and Keys is bi-racial.

“I don’t think there is any other word to describe it than ‘amazing’ for me and Maddie,” said Stephens after beating Venus Williams to reach her fi rst Grand Slam fi nal.

“Obviously, Venus, we are follow-ing in her footsteps. She’s been here. She’s represented the game so well as an African-American woman.

“Maddie and I are here to join her and represent, just as well as Venus has in the past and honoured to be here.”

And before the Williams sisters there was Ashe, the winner of three Grand Slam titles. He was the fi rst black player selected to the US Da-

vis Cup team and was also awarded the Presidential Medal of Freedom.

Th e sight of a black man on Wim-bledon’s manicured lawns, French Open clay and Australian and US Open hard courts was once as jar-ring as it is now routine.

Charismatic African-American Frances Tiafoe ignited a sold-out Arthur Ashe stadium as he battled Roger Federer in a fi rst-round thrill-er before surrendering in fi ve sets.

The crowd was roaring again on Saturday when Stephens swept past Keys 6-3, 6-0 to claim the fi nal women’s Grand Slam title of the year. — Reuters

Oosthuizen breaks arm, Louw joins Springboks squad

BY S T E V E K E AT I N G

BY N I C K M U LV E N N E Y

SYDNEY: Springboks prop Coe-nie Oosthuizen broke his arm in Saturday’s 23-23 draw against Australia in Perth and has been replaced in the squad for the trip to New Zealand by Wilco Louw, South Africa Rugby said yesterday.

Tighthead Oosthuizen sus-tained the injury in the second half of the match at Perth Oval and will return to South Africa to see a specialist in Durban.

Th e uncapped Louw, 23, is another hefty tighthead who has impressed with the Stormers in Super Rugby and represented South Africa “A” in their victo-ry over the French Barbarians in Durban in June. — Reuters

the challenge posed by 6ft 8in (2.02m) Anderson’s deadly serve.

At the US Open, the South African fired 114 aces and

had been broken just fi ve times in 108 service games.

He had also unleashed the tournament’s third fastest serve of 137 mph

(220.4kph).“It’s a very tough one. He’s

a huge player with an unbe-lievable serve and he plays so well on these kinds of surfaces,” said Nadal of a player he has known since he was 12 years old. — AFP

Nadal in action against Juan Martin del Potro of Argentina in the men’s singles semi-fi nals of the 2017 US Open in New York City last Friday. Photo by Reuters

2 4 S P O RT S MONDAY SEPTEMBER 11, 2017 • THEEDGE FINANCIAL DAILY

Evergrande facing historic challenge against SIPGWith 7 players from China national team, Scolari feels his team may have advantage

BY M I C H A E L C H U R C H

BY N I C K M U LV E N N E Y

Hazard needs time to get back to his best, says ConteBENGALURU: Chelsea manager Antonio Conte has welcomed the return of Eden Hazard from injury during their Premier League win over Leicester City on Saturday but said the Bel-gian playmaker needs time to get back to 100%. Hazard, who recovered from an ankle frac-ture sustained in June, played for the fi nal 12 minutes as Chel-sea ground out a 2-1 win with goals from striker Alvaro Morata and midfi elder N’Golo Kante to go third in the table. “Th is is good news for us,” Conte told the club’s website. “For sure he needs time to be 100% but for us his recovery is very important.” Chelsea are back in Champi-ons League action today, where they face Azerbaijan’s Qarabag at Stamford Bridge and Conte said he would be patient with Hazard. — Reuters

Cyclist dies from crash near Vuelta fi naleALTO DE L’ANGLIRU (Spain): A 29-year-old Spanish woman has died after crashing into a wall on her bike near the fi nish line of the penultimate stage of the Vuelta a Espana on Satur-day. Th e 20th stage of the three-week race around Spain took place in poor weather condi-tions with rain and fog aff ecting the climb to Alto de l’Angliru in the north-western region of Asturias. “Th e young cyclist ... died as a consequence of severe injuries suff ered after losing control of her bike and colliding with a wall,” the Asturian centre of emergency coordination said in a statement. — AFP

Football legends beat Iraq team 5-4BASRA (Iraq): A team of foot-balling legends including Spain’s Michel Salgado and Inter Milan defender Marco Materazzi beat an Iraqi side 5-4 in an exhibition match in Basra on Saturday. Some 65,000 football-starved spectators in Iraq, which in 2013 became subject to a Fifa ban because of continuing violence, fi lled the stadium for the game. Th e vis-itors included Argentine Her-nan Crespo, Dutch midfi elder Edgar Davids, Brazilians Zico and Rivaldo and Portuguese player Deco. — AFP

Bosse ‘much better’ after attackANGERS (France): World 800m champion Pierre-Ambroise Bosse said on Saturday he was “much better” after a vicious assault that left him with “mul-tiple facial fractures” although he had still not resumed train-ing. Bosse, 25, was victim of a late night attack in a casino car park in his one-time train-ing base of Gujan-Mestras in south-western France. French police have since arrested a 24-year-old man in connection with the assault, which forced Bosse to put an early end to his season. — AFP

I N BR I E F

HONG KONG: Guangzhou Ever-grande will need to make history today if they are to maintain their pursuit of a clean sweep of trophies when they face Shanghai SIPG in the second leg of the quarter-fi nals of the Asian Champions League.

SIPG thrashed Evergrande 4-0 in Shanghai last month and the two-time champions host the re-turn meeting knowing no team

has overturned a four-goal defi cit in the quarter-fi nals.

Luiz Felipe Scolari’s Evergrande currently lead the Chinese Super League standings by eight points from SIPG while the teams are also due to meet in the second leg of the Chinese FA Cup later in the month, with SIPG holding a 2-1 advantage.

But with Evergrande welcoming back seven players from the China national team who were eliminated from qualifying for the World Cup

last week, Scolari believes his team now may have an advantage.

“SIPG and Evergrande have the same problem with fatigue,” said Brazil’s 2002 World Cup-win-ning coach after their 3-1 win over Changchun Yatai in the Chinese Super League last Friday.

Evergrande, meanwhile, are aiming to claim the title for the third time in fi ve seasons having previously won the continental crown in 2013 and 2015.

Th e winner will face Japanese opposition in the semi-fi nals, with Kawasaki Frontale holding a 3-1 advantage from the fi rst leg over fellow J League side Urawa Red Diamonds.

Urawa, winners of the title in 2007, hold what could be a precious away goal thanks to Yuki Muto’s strike, even if Toru Oniki’s Kawa-saki have the upper hand after two goals from Yu Kobayashi and one from Elsinho. — Reuters

TOKYO: Yoshihide Kiryu gave Ja-pan’s burgeoning sprint reputation another hefty boost when he became only the second Asian-born athlete to run under 10 seconds for the 100m on Saturday.

Th e 21-year-old, who won a 4x100m relay silver at the Rio Olympics and a bronze at the World Championships last month, ran 9.98 at an intercolle-giate meet in Fukui to become the fi rst Japanese to dip under the barrier.

“I’m thrilled to have done it in my last 100 race of the season,” Kiryu told the Kyodo news agency. “I’d been stuck for four years and I managed to rewrite my own record at last.

“I’m on the starting block of the world now that I’ve run a nine. I’m so grateful to my coach and trainer. It still hasn’t sunk in yet.”

China’s Su Bingtian was the fi rst Asian-born athlete to run under 10 seconds when he clocked 9.99 in Oregon in May 2015, while the Asian record of 9.91 is owned by Ni-gerian-born Qatari Femi Ogunode.

Kiryu ran a wind-assisted 9.87 as a teenager at the Texas relays in March 2015 but his previous best legal run was the 10.01 he ran as a schoolboy in 2013 and again last year.

“Everyone remembers the fi rst person to do anything,” he added.

“Even though I never said it, ever since I ran the 10.01 in high school, I wanted to be the fi rst to do it. I don’t think I would have been able to do it if I didn’t believe it.”

Japan’s growing strength in sprint-ing is such that Kiryu failed to make team for the individual event at last month’s World Championships in Lon-don after fi nishing fourth in the trials.

With the Tokyo Olympics only three years away, Japan Associa-tion of Athletics Federations head of development Koji Ito said he thought Kiryu’s breakthrough could prove a watershed for the country’s sprinters. — Reuters

MESSI TREBLE STRETCHES BARCA ... Lionel Messi celebrating scoring their second goal with Jordi Alba on Saturday’s La Liga in Barcelona, Spain. An insatiable Messi hit a hat-trick as Barcelona hammered Espanyol 5-0 in a local derby on Saturday to make it three wins from three and take full advantage after La Liga champions Real Madrid were held to a 1-1 draw at home to Levante. The Argentine was handed a slice of luck with his fi rst goal, which should have been ruled out for off side, and then showed no mercy to Espanyol, moving on to fi ve goals in three league games as record signing Ousmane Dembele came off the bench in the second half to make his Barca debut. Late goals from Gerard Pique and Luis Suarez completed the thrashing, with Dembele grabbing an assist, laying on the pass for the Uruguayan’s goal. Photo by Reuters

Sprinter Kiryu off ers Japan 2020 hopes by dipping under 10 seconds

MOSCOW: Th e World Cup trophy tour began a worldwide tour in Moscow on Saturday at a ceremo-ny attended by Russian President Vladimir Putin and Fifa chief Gi-anni Infantino.

Ten months before the 2018 World Cup kicks off there, the cere-mony took place at Luzhniki stadi-um, which has been fully renovated and will also host the fi nal and fi ve other matches.

Th e event was also attended by football stars of the past — Bebeto of Brazil and former French striker David Trezeguet.

Putin has promised that his coun-try will complete the preparations

for hosting the tournament on time.“Everything is going according to

scedule, everything is supported by the fi nancial backing,” Putin said.

Infantino said he was confi dent Russia would put on a tournament to remember.

“Th e World Cup is the most fa-mous sports symbol, it’s unique,” he said.

“We will tell Russia and the en-tire world what a competition will take place here in 2018. I’m con-fi dent that it will be a remarkable tournament.”

Th e Fifa boss said he was im-pressed with the modernisation of the Luzhniki stadium.

“The stadium is absolutely amazing. It’s very beautiful and it has absolutely everything that a stadium of the highest class should have,” Infantino said.

Th e World Cup trophy will be showcased in 24 Russian cities and more than 50 countries around the globe giving fans an opportunity to see the most coveted prize in world football.

Th e World Cup will be played between June 14 and July 15 at 12 venues in 11 cities — Moscow, Saint Petersburg, Sochi, Kazan, Saransk, Kaliningrad, Volgograd, Rostov-on-Don, Nizhny Novgorod, Yekaterin-burg and Samara. — AFP

World Cup trophy startstour in Moscow

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 1,779.90 -3.08 -0.17

KLSE INDUSTRIAL 3,208.72 3.58 0.11

CONSUMER PRODUCT 625.94 0.84 0.13

INDUSTRIAL PRODUCT 160.43 0.89 0.56

CONSTRUCTION 331.46 -2.35 -0.70

TRADE & SERVICES 232.47 -0.46 -0.20

KLSE FINANCIAL 16,726.53 -14.99 -0.09

KLSE PROPERTY 1,261.58 0.06 Unch

KLSE PLANTATION 7,890.21 9.01 0.11

KLSE MINING 656.56 12.16 1.89

INDICES CLOSE +/- %CHGTECHNOLOGY 37.77 0.01 0.03

FTSE BURSA 100 12,357.52 -14.13 -0.11

FTSE BURSA MID 70 15,262.92 9.89 0.06

FTSE BURSA SMALL CAP 16,878.16 45.47 0.27

FTSE BURSA FLEDGLING 19,000.16 92.60 0.49

FTSE BURSA EMAS 12,689.28 -11.37 -0.09

FTSE BUR M’SIA ACE 6,649.58 -38.58 -0.58

FTSE BUR EMAS SHARIAH 12,886.14 1.79 0.01

FTSE BUR HIJRAH SHARIAH 14,107.48 -11.76 -0.08

FTSE/ASEAN 40 10,553.75 69.56 0.66

INDICES CLOSE +/- %CHG

Sectorial Movement

CONSUMER PRODUCTS 0.740 0.445 0.460 0.455 7120 ACOSTEC 0.455 -0.005 40 0.459 568.75 5.49 80.9 4.950 3.702 4.940 4.940 7090 AHEALTH 4.940 UNCH 2 4.940 16.13 2.33 578.7 24.759 11.853 19.460 19.060 2658 AJI 19.160 -0.200 71.4 19.210 6.39 2.19 1,164.9 0.380 0.220 0.280 0.280 7051 AMTEK 0.280 -0.020 15 0.280 — — 14.0 6.007 4.970 5.060 5.000 6432 APOLLO 5.000 -0.080 10 5.036 25.15 5.00 400.0 1.110 0.800 — — 7722 ASIABRN 0.940 — — — — — 74.4 3.771 3.140 3.290 3.290 7129 ASIAFLE 3.290 UNCH 62.7 3.290 11.32 4.86 640.8 49.279 39.201 44.480 43.840 4162 BAT 44.180 -0.420 134.8 44.196 16.51 4.87 12,614.7 0.120 0.035 0.070 0.065 7243 BIOOSMO 0.070 UNCH 364 0.068 — — 55.7 0.740 0.540 0.625 0.610 9288 BONIA 0.615 -0.005 4930.8 0.619 15.65 2.03 495.9 1.100 0.483 1.030 1.000 7174 CAB 1.000 -0.030 1997 1.012 7.14 0.32 615.9 0.540 0.425 0.440 0.430 7154 CAELY 0.430 -0.025 391.3 0.430 8.29 2.33 34.4 0.340 0.260 0.280 0.280 7128 CAMRES 0.280 UNCH 39.9 0.280 23.33 3.57 55.1 15.200 13.107 15.000 14.880 2836 CARLSBG 15.000 0.040 88.4 14.946 20.94 5.13 4,586.2 1.140 0.519 0.945 0.930 7035 CCK 0.930 -0.015 916.9 0.933 11.52 2.15 293.3 2.388 1.867 2.170 2.090 7148 CCMDBIO 2.130 0.020 243.5 2.111 20.80 3.05 594.2 2.700 2.250 2.260 2.250 2828 CIHLDG 2.250 UNCH 112 2.252 13.46 2.22 364.5 0.060 0.020 0.050 0.045 5188 CNOUHUA 0.045 UNCH 3288.4 0.045 — — 30.1 3.200 1.812 2.840 2.830 7205 COCOLND 2.840 0.010 6.5 2.837 15.68 5.46 649.8 1.960 1.575 1.850 1.820 7202 CSCENIC 1.850 0.030 172 1.844 17.79 5.41 222.9 0.095 0.030 0.070 0.060 5214 CSL 0.060 UNCH 45196.5 0.064 7.59 — 74.6 0.810 0.540 0.550 0.540 9423 CWG 0.545 -0.010 100.3 0.546 3.02 6.42 45.9 0.050 0.025 0.030 0.025 7179 DBE 0.025 -0.005 1090 0.027 250.0 — 34.5 1.000 0.740 — — 7119 DEGEM 0.990 — — — 9.46 2.53 132.7 59.883 52.364 59.180 58.600 3026 DLADY 59.100 0.480 107.6 59.099 26.52 1.69 3,782.4 0.115 0.070 0.095 0.090 7198 DPS 0.090 UNCH 614.8 0.090 — — 52.9 0.105 0.020 0.080 0.075 7182 EKA 0.080 UNCH 50.2 0.080 — — 25.0 0.360 0.140 0.255 0.235 9091 EMICO 0.250 0.015 2480.6 0.246 14.88 — 24.0 1.948 1.372 1.450 1.410 7149 ENGKAH 1.450 -0.040 91 1.426 65.02 4.14 102.6 0.270 0.180 0.185 0.185 7208 EURO 0.185 UNCH 21 0.185 24.03 — 49.5 0.800 0.630 — — 7094 EUROSP 0.730 — — — 33.80 — 32.4 26.000 21.887 24.700 24.400 3689 F&N 24.540 0.060 59.5 24.527 25.44 2.34 9,000.7 1.205 0.815 0.880 0.860 2755 FCW 0.880 UNCH 0.6 0.873 72.73 1.70 220.0 0.850 0.520 0.630 0.590 8605 FFHB 0.610 0.005 236.4 0.607 10.25 1.97 66.5 1.350 0.707 1.270 1.230 9172 FPI 1.260 -0.010 1779.7 1.251 11.50 4.76 311.7 0.750 0.255 0.740 0.720 7184 G3 0.725 0.005 163.4 0.731 — — 299.1 1.670 0.885 1.580 1.540 5102 GCB 1.560 UNCH 383.4 1.566 15.92 1.44 749.0 2.999 2.334 2.700 2.680 5606 GOLDIS 2.700 UNCH 20 2.693 7.09 0.74 1,650.8 0.135 0.030 0.135 0.115 5187 HBGLOB 0.115 -0.010 6007.5 0.122 — — 53.8 19.580 15.038 19.580 19.320 3255 HEIM 19.500 0.200 113.7 19.441 21.65 5.90 5,890.9 10.600 8.426 10.020 9.810 3301 HLIND 10.000 0.010 33.4 9.971 29.85 3.50 3,279.0 1.008 0.822 0.950 0.935 5160 HOMERIZ 0.940 -0.010 298.6 0.941 9.89 2.13 282.0 0.395 0.240 0.315 0.310 7213 HOVID 0.315 UNCH 480.8 0.313 — — 258.6 1.280 1.113 1.190 1.180 5024 HUPSENG 1.190 0.010 234.7 1.188 20.70 3.36 952.0 0.630 0.445 — — 8478 HWATAI 0.450 — — — 187.5 — 33.7 4.880 2.020 3.770 3.630 5107 IQGROUP 3.630 -0.130 245.8 3.693 12.96 3.03 319.5 1.570 1.054 1.460 1.430 7152 JAYCORP 1.440 -0.020 130.2 1.442 8.79 3.47 197.6 0.740 0.505 0.540 0.530 8931 JERASIA 0.530 0.010 3.2 0.533 11.73 — 43.5 2.598 1.370 1.520 1.410 5247 KAREX 1.510 0.090 2126.4 1.469 54.12 1.32 1,513.6 3.800 3.360 3.450 3.360 7216 KAWAN 3.450 0.070 11.2 3.409 35.13 0.54 1,240.3 0.260 0.040 — — 8303 KFM 0.185 — — — — — 12.6 0.920 0.725 0.765 0.765 6203 KHEESAN 0.765 UNCH 26.5 0.765 16.38 1.31 79.6 2.700 2.020 2.200 2.200 7062 KHIND 2.200 UNCH 3 2.200 23.43 4.55 88.1 2.210 0.995 — — 2 KOTRA 1.940 — — — 20.73 1.03 258.9 0.140 0.050 0.105 0.095 5172 KSTAR 0.100 UNCH 1451.4 0.097 — — 29.3 6.000 4.540 4.640 4.540 7006 LATITUD 4.580 -0.070 897.9 4.605 6.45 2.62 445.2 1.010 0.785 0.985 0.970 9385 LAYHONG 0.980 -0.005 1012.5 0.981 26.70 0.51 596.6 0.377 0.261 0.315 0.315 8079 LEESK 0.315 0.010 166.9 0.315 11.29 3.17 52.9 3.458 2.705 3.310 3.250 7089 LIIHEN 3.290 -0.020 651 3.275 8.02 4.86 592.2 0.820 0.710 0.745 0.730 7126 LONBISC 0.745 0.015 372.8 0.735 9.61 — 139.0 1.890 1.212 1.500 1.440 7085 LTKM 1.500 0.020 32 1.450 23.40 2.00 195.2 7.920 3.865 7.600 7.450 7087 MAGNI 7.500 -0.080 236.5 7.525 10.16 1.87 1,220.5 0.045 0.010 0.040 0.030 5189 MAXWELL 0.035 0.005 7188.1 0.035 — — 14.0 1.266 0.974 — — 5886 MBG 1.020 — — — 23.78 2.94 62.0 2.464 1.266 2.110 2.060 3662 MFLOUR 2.090 0.020 321.1 2.072 15.63 3.11 1,150.1 0.960 0.770 — — 7935 MILUX 0.770 — — — — — 41.9 5.005 3.770 3.800 3.770 5202 MSM 3.800 -0.050 22.2 3.792 — 3.68 2,671.3 0.035 0.030 — — 5150 MSPORTS 0.035 — — — — — 21.2 1.826 1.184 — — 3921 MWE 1.430 — — — 2.44 1.40 331.1 85.720 72.360 85.720 84.240 4707 NESTLE 84.420 -0.340 549.7 84.955 31.92 3.20 19,796.5 4.880 2.944 3.590 3.530 7060 NHFATT 3.590 0.010 7.2 3.565 10.45 3.06 269.8 0.130 0.060 0.065 0.065 7139 NICE 0.065 0.005 0.5 0.065 18.57 — 21.6 0.315 0.230 0.260 0.255 7215 NIHSIN 0.260 0.005 391 0.255 108.33 — 62.0 0.905 0.750 0.795 0.790 5066 NTPM 0.795 UNCH 333 0.793 18.07 3.02 892.9 0.690 0.360 0.585 0.570 7071 OCR 0.580 0.005 262.8 0.579 — — 154.1 0.250 0.045 0.135 0.130 7071PA OCR-PA 0.130 UNCH 5139.5 0.134 — — 83.8 1.789 1.353 — — 7107 OFI 1.580 — — — 21.79 2.53 379.2 6.863 6.315 6.700 6.660 4006 ORIENT 6.680 0.020 86.9 6.681 10.27 2.99 4,144.2 4.650 2.222 4.650 4.450 7052 PADINI 4.560 0.050 1425.6 4.572 19.06 2.19 3,000.1 38.700 29.318 38.700 38.260 3719 PANAMY 38.500 0.240 533.9 38.402 18.24 3.04 2,338.7 0.774 0.495 0.510 0.505 5022 PAOS 0.505 -0.015 90 0.507 49.03 3.23 91.5 0.650 0.310 0.400 0.400 9407 PARAGON 0.400 -0.020 5 0.400 — — 28.0 0.660 0.310 0.585 0.575 6068 PCCS 0.585 UNCH 180.4 0.581 — — 35.1 1.060 0.735 0.845 0.840 5231 PELIKAN 0.840 UNCH 69.5 0.841 25.53 — 464.8 0.235 0.145 0.175 0.175 4081 PMCORP 0.175 -0.005 102.7 0.175 9.72 — 135.3 0.635 0.441 0.635 0.615 5080 POHKONG 0.635 0.025 2253.3 0.629 14.43 1.57 260.6 2.060 1.451 1.790 1.750 7088 POHUAT 1.760 -0.030 280.6 1.768 6.55 4.55 400.0 17.217 15.086 16.920 16.740 4065 PPB 16.820 0.080 279.9 16.789 15.05 1.49 19,940.1 0.720 0.499 — — 7190 PPG 0.580 — — — 19.14 2.38 58.0 1.659 1.150 1.160 1.150 8966 PRLEXUS 1.160 UNCH 412.1 1.159 8.15 2.59 208.8 1.190 0.655 1.190 1.170 7134 PWF 1.180 0.010 1053.2 1.180 19.83 3.39 198.3 2.705 1.906 2.130 2.070 7237 PWROOT 2.080 -0.020 212.7 2.085 17.33 5.53 686.1 3.940 3.151 3.940 3.770 7084 QL 3.940 0.190 745.9 3.826 25.08 0.83 6,392.4 2.510 1.467 2.300 2.280 9946 REX 2.280 -0.010 28.6 2.288 39.38 0.88 140.6 1.890 1.140 1.390 1.320 183 SALUTE 1.350 UNCH 638.9 1.358 27.11 1.78 523.8 1.069 0.800 0.810 0.805 5252 SASBADI 0.805 -0.005 178.4 0.809 20.54 1.86 337.4 0.540 0.275 0.475 0.455 5157 SAUDEE 0.460 0.010 196.3 0.461 511.1 — 55.2 1.430 1.000 — — 7180 SERNKOU 1.390 — — — 118.8 — 166.8 0.845 0.580 — — 7165 SGB 0.650 — — — — — 111.2 0.270 0.060 0.230 0.215 7165PA SGB-PA 0.230 -0.010 40 0.220 — — 102.9 1.867 1.380 1.400 1.380 7412 SHH 1.400 UNCH 4.9 1.388 13.26 7.14 70.0 1.070 0.800 0.890 0.875 7246 SIGN 0.890 UNCH 49.7 0.882 10.23 — 213.9 0.915 0.215 0.675 0.675 8532 SINOTOP 0.675 UNCH 147 0.675 50.00 — 266.6 0.865 0.540 0.620 0.600 9776 SMCAP 0.620 0.005 14 0.601 — — 37.9 0.385 0.200 — — 7943 SNC 0.320 — — — — — 21.1 2.548 2.130 2.160 2.150 7103 SPRITZER 2.150 -0.010 15 2.153 18.22 2.69 392.6 1.440 1.020 1.080 1.070 7186 SWSCAP 1.080 0.010 42 1.080 166.1 0.93 157.5 0.669 0.455 0.465 0.460 7082 SYF 0.465 0.005 619.5 0.463 7.45 2.15 287.9 0.505 0.280 0.390 0.380 7211 TAFI 0.390 UNCH 20.9 0.390 — — 31.2 1.979 1.651 1.700 1.660 4405 TCHONG 1.700 0.020 1071 1.700 — 1.18 1,142.4 1.304 0.505 0.530 0.525 7200 TEKSENG 0.530 0.005 278.3 0.527 38.41 3.77 184.5 1.250 0.850 0.915 0.905 7252 TEOSENG 0.905 UNCH 640.7 0.911 17.78 1.66 271.5 1.510 1.258 — — 9369 TGL 1.370 — — — 12.36 5.47 55.8 0.870 0.400 0.870 0.845 7230 TOMEI 0.855 0.015 900.2 0.855 11.00 — 118.5 0.560 0.390 0.415 0.415 7176 TPC 0.415 UNCH 10 0.415 — — 97.0 6.080 4.089 5.560 5.430 4588 UMW 5.450 -0.140 316.5 5.465 — 3.67 6,367.2 2.640 1.934 2.640 2.610 7757 UPA 2.640 0.040 35.8 2.633 3.51 3.03 210.1 1.668 0.677 1.360 1.310 7203 WANGZNG 1.360 UNCH 70.5 1.334 15.98 2.94 217.6 0.325 0.080 0.255 0.250 5156 XDL 0.250 -0.005 195.4 0.251 22.12 — 168.5 0.615 0.360 0.585 0.585 7121 XIANLNG 0.585 UNCH 20 0.585 — — 46.8 0.125 0.020 — — 5155 XINQUAN 0.055 — — — — — 26.7 2.822 2.130 2.190 2.130 5584 YEELEE 2.130 -0.030 153.8 2.156 11.04 2.11 408.1 1.560 1.034 1.350 1.320 5159 YOCB 1.340 -0.010 126.4 1.338 9.42 2.99 214.4 3.190 1.744 2.700 2.640 7178 YSPSAH 2.650 -0.040 164.4 2.660 12.83 2.64 362.2 1.934 1.146 1.710 1.670 5131 ZHULIAN 1.710 0.020 165.8 1.694 14.75 3.51 786.6INDUSTRIAL PRODUCTS 1.420 0.922 1.290 1.280 12 3A 1.280 -0.020 489 1.284 14.37 1.13 629.8 0.210 0.085 0.140 0.130 7086 ABLEGRP 0.135 0.005 1360.4 0.135 — — 35.6 0.400 0.200 — — 7131 ACME 0.320 — — — — — 69.9 0.795 0.625 0.635 0.630 7191 ADVENTA 0.630 UNCH 22 0.633 3150 — 96.3 2.376 2.045 — — 9148 ADVPKG 2.200 — — — 18.29 5.45 45.1 0.220 0.135 0.170 0.170 7146 AEM 0.170 UNCH 65 0.170 566.6 — 50.9 0.500 0.365 — — 5198 AFUJIYA 0.420 — — — 23.33 — 75.6 0.635 0.405 0.450 0.450 2682 AISB 0.450 UNCH 10 0.450 31.91 — 65.0

0.913 0.561 0.740 0.730 7609 AJIYA 0.740 0.010 222 0.734 10.69 2.70 225.4 0.160 0.065 — — 9954 AKNIGHT 0.080 — — — — — 4.7 1.694 0.610 1.290 1.240 2674 ALCOM 1.260 -0.020 507.3 1.267 14.35 16.27 169.3 1.070 0.315 0.695 0.665 4758 ANCOM 0.690 0.020 2082.5 0.688 8.66 — 151.1 3.750 1.625 3.750 3.650 6556 ANNJOO 3.740 0.090 2058.1 3.713 10.93 2.81 1,995.3 0.551 0.095 0.115 0.105 9342 ANZO 0.115 0.005 26666.1 0.111 — — 93.5 1.100 0.825 1.030 1.030 5568 APB 1.030 UNCH 10 1.030 12.09 6.31 116.3 4.090 3.176 3.600 3.560 5015 APM 3.560 0.010 10.8 3.564 15.16 4.21 717.7 1.240 0.760 1.140 1.120 7214 ARANK 1.140 0.010 448.5 1.131 7.71 2.63 136.8 1.290 0.671 1.130 1.100 7162 ASTINO 1.130 UNCH 514.4 1.112 8.17 0.88 309.8 1.480 0.428 1.030 1.000 7099 ATTA 1.020 UNCH 1005.5 1.012 3.94 7.66 117.3 0.975 0.230 — — 7181 ATURMJU 0.230 — — — — — 14.1 2.550 1.472 2.190 2.190 8133 BHIC 2.190 0.060 1 2.190 5.78 1.37 544.1 0.570 0.380 — — 7005 BIG 0.385 — — — — — 18.5 0.580 0.095 0.505 0.490 7187 BKOON 0.505 0.015 2440.4 0.499 — — 140.3 1.091 0.742 0.855 0.825 168 BOILERM 0.850 0.005 155.1 0.840 20.63 1.76 438.6 2.425 1.510 — — 6297 BOXPAK 1.510 — — — — — 181.3 1.563 1.200 1.220 1.210 5100 BPPLAS 1.210 -0.010 52.8 1.218 18.70 6.61 227.1 0.400 0.300 0.315 0.310 9938 BRIGHT 0.310 -0.005 95 0.314 — — 50.9 0.675 0.210 0.520 0.510 7221 BSLCORP 0.515 UNCH 119 0.514 6.30 — 50.5 0.365 0.210 — — 7188 BTM 0.250 — — — 47.17 — 31.8 3.785 3.130 3.170 3.130 5105 CANONE 3.160 -0.010 268.1 3.137 7.73 1.27 607.2 0.035 0.005 — — 5229 CAP 0.010 — — — — — 13.6 2.168 1.883 1.970 1.950 7076 CBIP 1.960 UNCH 415.3 1.957 8.78 3.06 1,055.0 1.810 0.833 1.440 1.440 2879 CCM 1.440 -0.010 1 1.440 46.15 3.47 659.0 1.800 1.450 — — 8435 CEPCO 1.750 — — — — — 78.4 1.210 1.020 — — 8044 CFM 1.160 — — — — — 47.6 1.940 1.466 1.750 1.740 5007 CHINWEL 1.740 -0.010 130.7 1.743 10.24 3.91 521.2 2.400 1.546 2.270 2.220 5797 CHOOBEE 2.240 0.050 525.8 2.248 8.20 2.68 246.2 1.150 0.900 — — 8052 CICB 1.000 — — — 28.90 — 50.0 0.075 0.050 0.060 0.055 7018 CME 0.055 0.005 6023.8 0.055 — — 26.7 4.628 3.476 4.100 4.030 2852 CMSB 4.100 0.010 774.9 4.096 17.78 1.54 4,404.9 0.600 0.200 — — 7986 CNASIA 0.510 — — — 0.98 — 23.1 1.559 1.150 1.230 1.210 5071 COASTAL 1.230 0.010 297.6 1.221 13.24 1.63 653.9 1.150 0.665 0.750 0.740 7195 COMCORP 0.745 -0.005 457 0.748 7.02 — 104.3 1.010 0.645 0.970 0.940 2127 COMFORT 0.960 -0.010 8405.9 0.954 11.03 — 536.4 2.156 1.630 1.710 1.650 5094 CSCSTEL 1.680 0.030 2448 1.682 10.10 5.95 638.4 0.015 0.005 — — 22 CYBERT 0.005 — — — — — 0.5 0.829 0.655 0.660 0.660 7157 CYL 0.660 UNCH 4 0.660 52.38 6.06 66.0 0.405 0.280 0.325 0.325 5082 CYMAO 0.325 0.015 10 0.325 — — 24.4 2.369 1.742 2.180 2.180 8125 DAIBOCI 2.180 UNCH 6.5 2.180 31.32 1.97 714.8 1.510 0.315 1.230 1.230 8176 DENKO 1.230 UNCH 36.4 1.230 — — 128.5 0.330 0.220 0.315 0.310 7114 DNONCE 0.310 0.005 452 0.310 — — 56.5 0.435 0.230 0.260 0.260 5835 DOLMITE 0.260 -0.040 10 0.260 118.1 — 74.1 0.450 0.155 0.205 0.200 5265 DOLPHIN 0.200 -0.010 268 0.203 — — 44.4 1.310 1.066 1.310 1.290 7169 DOMINAN 1.310 0.010 107.1 1.294 9.05 4.58 216.2 1.848 0.914 1.620 1.580 1619 DRBHCOM 1.620 0.020 2769.7 1.607 — 0.62 3,131.8 1.606 0.540 1.560 1.510 7233 DUFU 1.520 -0.040 934 1.528 7.71 2.96 266.7 0.985 0.745 0.760 0.750 8907 EG 0.755 0.005 383.8 0.754 6.94 — 159.7 1.070 0.825 0.850 0.835 9016 EKSONS 0.850 0.025 9.5 0.843 — — 139.6 0.840 0.510 0.815 0.780 7217 EMETALL 0.800 0.010 1882.1 0.803 14.79 3.13 136.9 0.885 0.385 0.530 0.530 7773 EPMB 0.530 -0.015 37 0.530 — — 88.0 0.443 0.330 0.380 0.355 190 ESAFE 0.355 -0.005 176.6 0.356 10.89 — 85.4 1.115 0.740 0.810 0.790 5101 EVERGRN 0.790 -0.010 3602.1 0.800 12.89 2.53 668.7 0.863 0.490 0.500 0.495 7249 EWEIN 0.500 UNCH 132 0.497 12.89 1.00 150.8 1.380 1.011 1.290 1.290 2984 FACBIND 1.290 UNCH 15 1.290 12.70 1.94 109.9 2.862 2.160 2.620 2.580 7229 FAVCO 2.620 -0.010 134.7 2.597 7.67 5.73 580.1 0.800 0.495 0.635 0.635 149 FIBON 0.635 0.010 3.5 0.635 14.46 1.97 62.2 2.274 1.906 2.210 2.180 3107 FIMACOR 2.180 -0.020 10.4 2.206 16.18 5.73 534.7 1.870 1.417 1.520 1.490 5197 FLBHD 1.510 -0.020 589.4 1.502 7.61 9.93 155.8 1.420 1.330 1.330 1.330 3611 GBH 1.330 UNCH 4.1 1.330 151.1 — 248.2 2.590 1.450 2.490 2.350 7197 GESHEN 2.490 0.090 385.8 2.375 10.62 — 199.2 0.085 0.040 0.055 0.050 5220 GLOTEC 0.050 UNCH 1639.5 0.053 — — 269.1 0.735 0.185 — — 7192 GOODWAY 0.205 — — — — — 22.7 0.135 0.085 0.105 0.105 7096 GPA 0.105 UNCH 200 0.105 18.42 — 103.0 0.425 0.255 0.270 0.270 5649 GPHAROS 0.270 -0.005 84 0.270 — — 36.3 0.245 0.185 0.195 0.190 136 GREENYB 0.195 -0.005 41.1 0.192 37.50 3.08 65.1 0.145 0.085 0.105 0.105 7077 GSB 0.105 UNCH 30 0.105 — — 55.4 1.050 0.800 0.840 0.830 3247 GUH 0.830 -0.010 202.1 0.834 11.74 4.22 230.7 1.180 0.235 0.760 0.760 5151 HALEX 0.760 UNCH 70.9 0.760 — — 80.6 7.400 4.251 6.900 6.760 5168 HARTA 6.900 UNCH 962.2 6.814 35.08 1.23 11,386.4 1.390 0.829 1.270 1.270 7105 HCK 1.270 UNCH 44 1.270 705.56 — 534.9 8.680 1.990 7.900 7.710 4324 HENGYUAN 7.740 -0.150 1190.4 7.793 4.73 — 2,322.0 1.780 1.123 1.530 1.490 5095 HEVEA 1.510 UNCH 2758.7 1.510 8.64 4.90 822.9 1.200 0.858 0.915 0.910 3298 HEXZA 0.915 -0.005 118.5 0.913 8.24 4.92 183.3 0.430 0.265 0.430 0.410 5072 HIAPTEK 0.420 UNCH 30490.6 0.419 14.14 0.71 552.3 0.560 0.185 0.440 0.425 5199 HIBISCS 0.435 UNCH 6120 0.434 5.63 — 655.0 1.276 0.840 — — 7033 HIGHTEC 1.000 — — — 6.78 3.50 40.6 1.226 0.785 — — 8443 HIL 0.995 — — — 18.53 1.51 277.3 0.405 0.270 0.330 0.330 5165 HOKHENG 0.330 UNCH 8 0.330 23.40 — 26.4 0.245 0.020 0.245 0.185 2739 HUAAN 0.235 0.055 313392 0.219 — — 263.7 3.236 2.130 2.390 2.210 5000 HUMEIND 2.390 0.180 138.5 2.334 61.28 0.84 1,145.0 0.075 0.045 0.060 0.050 9601 HWGB 0.055 0.005 25909. 0.054 — — 54.9 0.890 0.595 — — 9687 IDEALUBB 0.770 — — — 5.63 — 85.1 2.070 1.690 1.790 1.750 7222 IMASPRO 1.770 -0.090 13 1.767 24.72 1.98 141.6 0.300 0.160 — — 7183 IRETEX 0.180 — — — — — 24.9 0.085 0.050 0.060 0.055 7223 JADI 0.060 0.005 8203 0.056 — — 56.5 0.175 0.135 0.140 0.140 8648 JASKITA 0.140 UNCH 25 0.140 — 7.14 62.9 0.110 0.030 — — 2747 JAVA 0.035 — — — — — 6.1 1.120 0.892 1.100 1.100 7043 JMR 1.100 -0.010 5 1.100 333.3 2.73 139.5 1.729 0.825 1.450 1.380 7167 JOHOTIN 1.420 0.030 1722.6 1.423 7.52 1.85 398.8 1.460 1.000 1.050 1.030 4383 JTIASA 1.040 -0.010 793.9 1.042 86.67 1.25 1,012.7 0.310 0.160 0.260 0.255 54 KARYON 0.255 UNCH 769 0.255 27.42 — 121.3 0.870 0.680 0.790 0.790 7199 KEINHIN 0.790 UNCH 19.9 0.790 11.10 1.90 78.2 0.500 0.310 0.310 0.310 6211 KIALIM 0.310 UNCH 30 0.310 — — 19.2 3.060 2.733 2.900 2.900 3522 KIANJOO 2.900 -0.010 38.5 2.900 11.62 1.38 1,288.1 2.363 1.511 1.710 1.710 5371 KIMHIN 1.710 -0.010 33 1.710 8.34 3.51 266.1 0.075 0.025 0.040 0.035 5060 KINSTEL 0.040 0.005 3487 0.038 — — 42.0 1.490 0.890 0.900 0.890 9466 KKB 0.890 -0.005 214 0.892 — 4.49 229.4 0.425 0.220 0.240 0.230 7164 KNM 0.235 UNCH 5876 0.235 — — 506.7 1.129 0.751 0.825 0.810 6971 KOBAY 0.810 -0.010 62 0.821 13.06 — 82.7 0.367 0.240 0.250 0.250 7017 KOMARK 0.250 UNCH 133.5 0.250 — — 31.2 7.360 5.565 7.000 6.810 7153 KOSSAN 7.000 0.100 1106.4 6.923 26.82 1.57 4,476.3 1.110 0.345 0.825 0.800 7130 KPOWER 0.825 0.005 94.3 0.821 — — 57.1 5.140 4.624 4.970 4.950 3476 KSENG 4.970 0.010 9.7 4.960 16.63 2.01 1,796.5 0.580 0.365 0.515 0.495 5192 KSSC 0.505 0.005 802.1 0.507 11.10 2.97 48.5 0.775 0.295 0.580 0.545 8362 KYM 0.565 UNCH 48.9 0.555 21.65 — 84.7 8.400 5.060 6.010 5.580 3794 LAFMSIA 5.950 0.280 1672.6 5.894 — 3.36 5,055.7 0.940 0.570 0.825 0.795 9326 LBALUM 0.815 0.020 6290.6 0.811 11.27 3.07 202.5 0.608 0.444 0.475 0.470 5092 LCTH 0.475 UNCH 19.6 0.474 14.05 5.26 171.0 6.530 4.140 5.550 5.360 5284 LCTITAN 5.510 0.160 6220.9 5.483 8.55 — 12,715.9 0.844 0.422 0.830 0.795 5232 LEONFB 0.820 0.035 4979.2 0.813 4.68 1.83 254.2 0.440 0.100 0.265 0.265 8745 LEWEKO 0.265 0.005 450.1 0.265 — — 85.3 0.080 0.020 0.050 0.050 2887 LIONDIV 0.050 UNCH 705.4 0.050 — — 69.6 1.290 0.320 1.290 1.210 4235 LIONIND 1.270 0.050 10436.9 1.257 8.25 — 911.7 0.665 0.350 0.645 0.610 9881 LSTEEL 0.645 0.035 4199 0.630 8.98 — 82.6 0.160 0.050 0.135 0.130 5068 LUSTER 0.130 UNCH 1234.8 0.132 — — 256.9 3.890 3.336 — — 9199 LYSAGHT 3.740 — — — 9.47 1.87 155.5 1.410 0.645 1.410 1.290 5098 MASTEEL 1.370 0.050 15900.2 1.358 10.90 — 350.0 0.841 0.467 0.630 0.630 7029 MASTER 0.630 0.005 0.5 0.630 9.52 1.59 34.4 1.170 0.948 1.090 1.090 5152 MBL 1.090 UNCH 55.3 1.090 7.90 3.67 100.3 0.870 0.618 0.835 0.835 7004 MCEHLDG 0.835 0.025 0.1 0.835 21.92 1.80 37.1 0.660 0.250 0.295 0.280 3778 MELEWAR 0.290 0.015 1001.6 0.289 — — 65.4 0.789 0.478 — — 5223 MENTIGA 0.665 — — — 511.5 1.50 46.6 1.426 1.110 1.300 1.300 8192 MERCURY 1.300 UNCH 2 1.300 4.28 9.23 52.2 1.837 1.596 — — 6149 METROD 1.700 — — — 12.36 3.53 204.0 1.220 0.335 1.220 1.170 5001 MIECO 1.200 0.020 5593.4 1.204 9.05 3.33 630.0 0.170 0.075 0.170 0.160 7219 MINETEC 0.165 0.010 33896 0.162 — — 120.7 0.715 0.510 0.515 0.515 5576 MINHO 0.515 UNCH 20 0.515 8.86 — 113.1 4.403 3.079 3.610 3.600 5916 MSC 3.610 UNCH 25 3.608 8.74 2.22 361.0 1.785 1.373 1.410 1.380 3883 MUDA 1.410 0.020 170.3 1.391 17.63 2.13 430.1 1.200 0.685 0.830 0.775 5087 MYCRON 0.820 0.055 3752.1 0.804 6.40 — 232.5 0.240 0.035 — — 7002 NAKA 0.120 — — — — — 6.6 0.385 0.145 0.150 0.150 5025 NWP 0.150 UNCH 55 0.150 — — 54.2 1.190 0.535 0.955 0.930 4944 NYLEX 0.945 0.015 638.3 0.945 8.91 2.12 183.6 1.970 1.125 1.800 1.790 7140 OKA 1.790 -0.030 156.3 1.796 10.03 3.07 292.4 1.510 0.865 1.490 1.450 5065 ORNA 1.450 -0.030 513.3 1.472 9.18 2.07 109.1 0.085 0.050 0.055 0.050 7225 PA 0.055 UNCH 812 0.050 — — 52.1 7.670 6.270 7.470 7.390 5183 PCHEM 7.450 0.050 5539.3 7.451 14.51 3.22 59,600.0 2.020 1.450 1.490 1.450 5271 PECCA 1.450 -0.010 370 1.464 18.57 2.76 272.6 0.801 0.600 0.670 0.600 9997 PENSONI 0.610 -0.040 4252.9 0.624 12.45 4.92 79.1 7.901 5.980 6.080 6.060 5436 PERSTIM 6.060 -0.020 20.5 6.077 10.91 6.60 601.8 21.740 17.797 18.280 17.820 6033 PETGAS 18.180 -0.020 276.8 18.061 20.25 3.58 35,973.3 9.900 3.883 9.480 9.330 3042 PETRONM 9.400 -0.080 266.9 9.392 7.07 2.34 2,538.0 2.466 1.595 2.320 2.310 7095 PIE 2.320 UNCH 216.6 2.316 17.76 1.03 891.0 2.569 1.271 2.320 2.300 7172 PMBTECH 2.310 0.010 33.4 2.311 15.95 1.73 184.8 3.810 2.516 3.790 3.700 8869 PMETAL 3.760 0.060 6400.4 3.737 25.72 1.46 14,052.9 0.575 0.450 — — 6637 PNEPCB 0.505 — — — 13.32 — 66.4 0.995 0.270 0.385 0.355 8117 POLY 0.380 0.015 261.1 0.370 1.92 — 60.8 1.670 0.920 1.400 1.360 8273 PPHB 1.390 0.010 492.1 1.380 8.56 — 152.8 0.365 0.250 — — 9458 PREMIER 0.275 — — — 343.7 — 92.7 1.480 0.569 1.470 1.400 9873 PRESTAR 1.430 0.010 3075.8 1.440 6.10 2.10 290.1 1.110 0.635 1.010 1.000 7168 PRG 1.010 UNCH 148.2 1.006 89.38 0.50 302.9 0.330 0.085 0.250 0.235 7123 PWORTH 0.245 0.010 20754.4 0.242 94.23 — 228.0 1.350 1.070 1.200 1.150 7544 QUALITY 1.150 -0.050 593 1.182 — — 66.7 0.800 0.510 — — 7498 RALCO 0.580 — — — — — 24.3 5.840 5.310 — — 7765 RAPID 5.700 — — — 780.8 — 609.3 0.745 0.285 0.300 0.290 5256 REACH 0.300 UNCH 2715.3 0.296 7.04 — 328.9 0.655 0.390 0.420 0.410 7232 RESINTC 0.410 UNCH 249 0.415 6.45 2.93 56.3 1.410 0.595 1.410 1.360 9741 ROHAS 1.390 0.030 2093.9 1.388 — — 555.8 0.834 0.705 — — 7803 RUBEREX 0.735 — — — 8.86 1.70 185.4 5.194 3.759 4.580 4.560 5134 SAB 4.560 0.010 9 4.574 13.20 1.10 624.4 8.490 4.773 7.180 6.870 9822 SAM 6.880 UNCH 94.6 6.924 19.94 1.49 866.3 0.979 0.826 — — 7811 SAPIND 0.930 — — — 10.99 6.45 67.7

* 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 MONDAY SEPTEMBER 11, 2017 • THEEDGE FINANCIAL DAILY



1.266 0.984 1.030 1.030 5170 SCABLE 1.030 -0.010 43.3 1.030 19.47 2.91 326.6 3.450 2.870 3.000 2.940 7247 SCGM 2.970 -0.050 235.6 2.964 17.64 2.02 575.0 0.740 0.510 0.520 0.520 9237 SCIB 0.520 -0.010 10 0.520 14.65 — 42.1 9.350 5.900 9.350 9.000 4731 SCIENTX 9.270 0.220 1025.5 9.255 20.32 1.73 4,482.6 0.345 0.250 0.295 0.295 7239 SCNWOLF 0.295 UNCH 60 0.295 — — 25.8 0.525 0.135 0.245 0.245 7366 SCOMIEN 0.245 -0.010 20 0.245 — — 83.8 1.660 0.660 0.995 0.935 7073 SEACERA 0.975 0.035 10575.5 0.971 51.86 3.08 337.4 0.230 0.135 0.135 0.135 5145 SEALINK 0.135 UNCH 20 0.135 — — 67.5 0.765 0.250 0.550 0.550 5163 SEB 0.550 UNCH 6 0.550 — — 44.0 1.410 0.388 1.180 1.140 5181 SIGGAS 1.150 -0.010 1620.8 1.158 54.50 1.04 215.6 1.040 0.550 — — 7115 SKBSHUT 0.760 — — — 13.40 — 30.4 1.530 1.220 1.480 1.460 7155 SKPRES 1.470 -0.020 1156.7 1.469 14.66 2.82 1,837.8 2.225 1.881 1.950 1.950 7248 SLP 1.950 UNCH 4 1.950 24.10 1.89 618.1 0.700 0.530 0.530 0.530 7132 SMISCOR 0.530 -0.050 10.1 0.530 — — 23.7 2.320 0.928 2.320 2.180 5665 SSTEEL 2.300 0.120 2174.9 2.254 10.40 1.30 991.2 0.300 0.065 — — 7143 STONE 0.250 — — — — — 22.5 1.550 1.230 — — 6904 SUBUR 1.300 — — — — — 271.7 4.320 1.643 3.410 3.400 7207 SUCCESS 3.400 -0.010 38 3.401 8.42 1.47 417.2 2.960 1.764 2.880 2.820 7235 SUPERLN 2.830 -0.040 241.8 2.838 18.94 0.97 452.8 2.324 1.770 1.840 1.810 7106 SUPERMX 1.830 -0.010 537 1.825 17.53 1.37 1,244.7 4.153 3.272 3.680 3.600 5012 TAANN 3.660 -0.030 81.8 3.652 10.38 4.10 1,628.1 0.510 0.350 0.370 0.360 4022 TADMAX 0.370 0.005 1791.6 0.367 — — 199.3 0.415 0.235 0.265 0.260 5149 TAS 0.260 -0.010 90 0.262 — — 46.8 14.282 11.949 12.820 12.700 4448 TASEK 12.800 0.100 4 12.785 105.70 9.38 1,582.4 0.290 0.100 0.185 0.170 5178 TATGIAP 0.185 0.015 1807.4 0.178 — — 28.7 1.360 0.300 1.260 1.240 7097 TAWIN 1.250 UNCH 666.6 1.255 11.00 — 80.4 2.920 1.050 1.610 1.610 7439 TECGUAN 1.610 -0.020 1.8 1.610 9.22 — 64.6 4.803 3.817 4.150 4.110 7034 TGUAN 4.140 0.020 70.7 4.129 8.65 2.90 548.5 2.166 1.592 1.730 1.710 7374 TIENWAH 1.730 0.030 28.2 1.711 7.11 5.78 250.4 0.800 0.560 — — 7854 TIMWELL 0.620 — — — 140.9 — 55.2 1.080 0.595 0.955 0.945 7285 TOMYPAK 0.945 UNCH 362.5 0.950 15.62 3.39 396.3 3.780 1.749 3.360 3.300 5010 TONGHER 3.360 UNCH 108.2 3.318 9.72 8.93 529.0 5.878 4.476 5.660 5.540 7113 TOPGLOV 5.580 -0.080 2008.4 5.577 23.36 2.60 7,010.1 0.850 0.495 0.725 0.710 7173 TOYOINK 0.720 -0.025 107 0.720 — — 77.0 0.230 0.145 — — 4359 TURIYA 0.185 — — — — — 42.3 2.460 1.528 2.460 2.370 7100 UCHITEC 2.420 -0.030 1620.3 2.403 17.03 5.37 1,077.2 4.930 3.310 4.400 4.380 7133 ULICORP 4.400 UNCH 8.9 4.396 22.27 2.73 638.9 1.367 1.150 — — 7227 UMSNGB 1.210 — — — 9.15 2.48 96.8 1.680 0.700 0.790 0.775 4995 VERSATL 0.785 UNCH 515.6 0.779 99.37 — 92.1 2.480 1.277 2.480 2.430 6963 VS 2.470 0.020 5290.1 2.463 22.29 1.96 2,986.4 1.030 0.750 0.985 0.970 5142 WASEONG 0.975 0.015 314 0.976 — 0.51 755.5 0.485 0.345 — — 7226 WATTA 0.415 — — — — — 35.1 2.170 1.471 1.920 1.890 7111 WEIDA 1.920 0.010 146.5 1.898 18.55 1.56 256.0 2.349 1.741 2.140 2.100 7231 WELLCAL 2.110 -0.010 622.2 2.120 20.41 4.00 700.4 0.525 0.229 0.390 0.385 6378 WMG 0.390 -0.005 19 0.387 — — 166.2 0.845 0.600 0.720 0.715 7050 WONG 0.720 -0.005 135 0.719 130.9 — 66.0 0.700 0.475 — — 7025 WOODLAN 0.530 — — — 14.72 — 21.2 2.084 1.836 1.970 1.970 5009 WTHORSE 1.970 -0.010 6 1.970 20.82 5.08 472.8 1.096 0.785 0.790 0.785 4243 WTK 0.785 -0.005 295.5 0.786 — 2.55 377.9 1.380 0.953 1.100 1.080 7245 WZSATU 1.080 0.010 191.1 1.090 12.36 1.85 376.8 0.865 0.720 0.750 0.725 5048 YILAI 0.750 0.025 24 0.749 34.72 — 120.0 0.400 0.185 0.205 0.190 7020 YKGI 0.200 0.005 997.9 0.198 — — 69.7 0.700 0.380 0.450 0.440 7014 YLI 0.450 UNCH 41 0.445 11.36 1.11 46.3CONSTRUCTION 1.200 0.735 1.070 1.050 5281 ADVCON 1.070 0.010 1284.8 1.054 15.01 — 430.2 0.750 0.280 — — 7007 ARK 0.410 — — — — — 20.0 1.200 0.600 1.190 1.160 7078 AZRB 1.160 -0.010 515.7 1.167 14.93 1.72 616.6 0.793 0.581 0.630 0.610 6173 BDB 0.630 0.005 63 0.618 6.43 7.14 191.4 0.625 0.351 0.420 0.420 5190 BENALEC 0.420 -0.005 194.8 0.420 30.00 1.67 341.0 0.510 0.325 0.360 0.355 5932 BPURI 0.355 -0.010 128 0.358 101.43 — 94.8 1.052 0.777 0.935 0.910 8761 BREM 0.935 -0.005 128.1 0.934 65.38 1.60 323.0 1.220 0.849 1.080 1.050 8591 CRESBLD 1.050 -0.030 779.4 1.055 8.72 3.81 185.8 2.086 1.437 1.850 1.830 7528 DKLS 1.850 0.050 5.5 1.839 3.54 1.62 171.5 3.210 1.475 3.160 3.090 5253 ECONBHD 3.110 0.030 879.9 3.126 20.61 1.45 1,663.9 1.520 0.985 1.150 1.120 8877 EKOVEST 1.120 -0.020 1356.1 1.128 21.62 1.07 2,395.9 1.010 0.487 0.895 0.880 7047 FAJAR 0.890 -0.005 1242.3 0.887 8.31 2.81 327.6 1.370 0.885 1.240 1.210 9261 GADANG 1.230 0.020 1815.5 1.229 9.23 2.28 809.1 5.459 4.541 5.400 5.320 5398 GAMUDA 5.330 -0.070 4422.1 5.357 19.82 2.25 13,073.4 1.740 0.815 1.720 1.680 5226 GBGAQRS 1.720 -0.020 1541.2 1.705 18.68 — 739.5 0.920 0.700 0.740 0.710 5169 HOHUP 0.720 UNCH 178.3 0.726 4.32 — 269.9 1.778 1.440 1.490 1.480 6238 HSL 1.490 UNCH 20.6 1.489 16.76 1.61 868.2 3.557 2.998 3.410 3.360 3336 IJM 3.380 -0.050 3235.4 3.387 18.35 2.22 12,262.2 0.740 0.561 0.650 0.640 5268 IKHMAS 0.640 -0.010 62.6 0.647 123.08 0.78 339.4 0.360 0.280 0.300 0.295 192 INTA 0.295 -0.010 433.4 0.300 0.36 — 157.9 0.710 0.510 0.630 0.605 8834 IREKA 0.630 0.025 10 0.607 — — 107.6 1.790 0.975 1.380 1.330 4723 JAKS 1.380 0.040 440.4 1.357 — — 665.5 0.500 0.210 0.260 0.255 9083 JETSON 0.255 -0.005 201.8 0.255 — — 52.7 3.760 1.996 3.730 3.650 7161 KERJAYA 3.730 0.070 1123.1 3.708 16.84 1.47 2,089.9 2.380 1.890 2.170 2.170 5171 KIMLUN 2.170 0.010 8.3 2.170 9.53 3.00 693.6 1.540 1.010 — — 9628 LEBTECH 1.500 — — — 58.59 — 204.7 1.240 0.684 — — 5129 MELATI 0.830 — — — 6.75 2.11 99.6 0.575 0.240 0.380 0.355 5006 MERGE 0.380 0.020 94.4 0.367 271.4 — 25.5 1.407 1.070 1.140 1.110 9571 MITRA 1.120 0.020 6249.8 1.127 6.68 4.46 772.2 1.340 0.685 1.280 1.270 7595 MLGLOBAL 1.270 UNCH 71 1.271 22.84 — 501.1 0.440 0.250 — — 5924 MTDACPI 0.315 — — — — — 73.0 1.670 0.725 1.100 1.030 5085 MUDAJYA 1.100 0.050 712.8 1.054 — — 607.7 2.980 2.046 2.900 2.870 5703 MUHIBAH 2.870 -0.030 275 2.894 11.29 1.92 1,383.7 0.724 0.385 0.570 0.565 8311 PESONA 0.570 UNCH 388.6 0.568 18.51 3.51 380.3 2.490 1.132 — — 7055 PLB 2.080 — — — 61.00 0.48 189.9 1.273 0.924 1.030 1.020 5070 PRTASCO 1.020 0.010 543 1.022 16.69 5.88 433.2 0.215 0.095 0.135 0.130 7145 PSIPTEK 0.130 -0.005 538.3 0.135 13.27 — 45.3 4.270 3.125 3.890 3.870 9598 PTARAS 3.880 -0.070 196.7 3.880 17.48 5.15 640.1 1.390 0.435 1.080 1.040 5205 SENDAI 1.060 -0.010 2253.1 1.056 — 0.47 821.0 2.410 1.533 2.330 2.280 5263 SUNCON 2.300 0.020 3498.6 2.305 22.09 2.39 2,973.7 0.415 0.255 0.265 0.260 9717 SYCAL 0.265 0.005 166.5 0.263 15.87 — 84.9 0.860 0.364 0.835 0.820 5054 TRC 0.835 0.005 3858.9 0.830 10.37 2.28 401.2 2.320 1.500 1.690 1.670 5622 TRIPLC 1.670 UNCH 30 1.679 10.63 — 114.6 0.825 0.430 0.650 0.645 5042 TSRCAP 0.645 -0.015 25.3 0.649 10.63 — 112.5 0.145 0.110 0.140 0.130 7070 VIZIONE 0.135 UNCH 6114.4 0.135 122.73 — 118.1 1.680 0.890 1.280 1.240 3565 WCEHB 1.250 -0.020 445.1 1.258 32.72 — 1,253.4 2.467 1.575 1.820 1.770 9679 WCT 1.770 -0.030 3592.5 1.798 27.83 1.68 2,505.2 0.670 0.535 0.595 0.585 7028 ZECON 0.595 -0.005 258 0.593 5.06 — 70.9 0.200 0.100 0.125 0.120 2283 ZELAN 0.120 UNCH 358.9 0.124 — — 101.4TRADING SERVICES 0.550 0.350 0.375 0.365 5238 AAX 0.370 UNCH 12348.3 0.370 18.05 — 1,534.8 0.250 0.135 0.170 0.155 5166 AEGB 0.170 UNCH 374 0.158 — — 69.7 2.960 1.980 2.120 2.040 6599 AEON 2.060 0.020 369.2 2.051 36.20 1.46 2,892.2 0.435 0.160 0.365 0.350 7315 AHB 0.350 0.005 2855.2 0.356 11.99 — 56.0 3.570 2.086 3.570 3.390 5099 AIRASIA 3.530 0.130 23614.4 3.505 6.70 5.10 11,797.2 9.336 5.838 9.160 8.960 5014 AIRPORT 8.990 -0.090 3835.8 9.025 129.7 1.22 14,916.1 0.370 0.110 0.180 0.175 5115 ALAM 0.180 UNCH 2520.3 0.177 — — 166.4 0.270 0.070 0.085 0.085 159 AMEDIA 0.085 UNCH 38.4 0.085 — — 20.4 8.372 7.002 7.350 7.300 6351 AMWAY 7.310 0.010 36.5 7.306 21.99 2.74 1,201.7 2.378 2.133 2.160 2.160 7083 ANALABS 2.160 UNCH 2 2.160 10.91 1.50 129.7 0.085 0.015 0.025 0.020 5194 APFT 0.020 UNCH 3987 0.024 — — 20.7 0.825 0.500 0.755 0.740 5210 ARMADA 0.750 0.005 10230.8 0.749 — 1.09 4,399.7 0.220 0.100 0.150 0.145 1481 ASB 0.150 0.005 180.5 0.146 35.71 1.67 101.6 2.863 2.466 2.700 2.650 6399 ASTRO 2.680 -0.020 1306.4 2.668 22.54 4.29 13,961.5 4.836 4.000 4.250 4.100 7048 ATLAN 4.250 -0.020 3 4.197 21.44 3.76 1,078.0 1.180 0.739 1.030 0.980 7579 AWC 0.990 -0.030 2887.8 1.001 11.97 1.52 264.6 5.593 4.085 5.100 5.050 6888 AXIATA 5.090 UNCH 4087 5.081 76.66 1.57 45,800.6 0.653 0.272 0.530 0.510 5021 AYS 0.525 0.020 3327.8 0.520 8.62 4.76 199.7 0.740 0.430 0.465 0.445 7251 BARAKAH 0.450 0.010 2698.3 0.458 — — 371.5 2.209 1.840 2.050 1.910 5248 BAUTO 2.030 0.110 2852 2.005 19.79 5.74 2,343.7 0.495 0.365 0.380 0.375 7241 BHS 0.380 UNCH 278 0.375 — — 174.2 0.280 0.170 0.175 0.175 6998 BINTAI 0.175 UNCH 84 0.175 — — 50.7 6.567 5.860 — — 5032 BIPORT 5.900 — — — 17.61 3.73 2,714.0 2.760 1.577 2.550 2.520 5275 BISON 2.550 UNCH 15.7 2.540 40.03 0.78 790.7 0.410 0.306 0.330 0.325 3395 BJCORP 0.330 0.005 1715 0.327 11.62 — 1,624.8 1.956 1.380 1.480 1.470 5196 BJFOOD 1.470 UNCH 1191.2 1.470 48.51 — 560.6 0.700 0.400 0.410 0.400 4219 BJLAND 0.405 -0.005 59 0.404 6.85 — 2,025.1 0.470 0.205 0.330 0.280 6025 BJMEDIA 0.280 -0.005 1.5 0.289 — — 65.8 3.258 2.250 2.280 2.260 1562 BJTOTO 2.270 UNCH 1150.5 2.269 12.90 6.17 3,066.8 0.135 0.092 0.100 0.095 7036 BORNOIL 0.100 0.005 2927.7 0.099 10.87 — 454.6 0.875 0.505 0.530 0.520 9474 BRAHIMS 0.520 0.005 138.1 0.527 — — 122.9 2.789 2.510 2.690 2.660 2771 BSTEAD 2.690 -0.010 249.3 2.680 22.40 5.20 5,452.6 0.390 0.280 0.305 0.300 5257 CARIMIN 0.305 -0.005 62 0.301 — — 71.3 1.990 1.300 — — 5245 CARING 1.720 — — — 28.52 0.87 374.5 3.397 2.130 2.250 2.240 2925 CCB 2.240 UNCH 11 2.245 11.76 2.23 225.7 1.440 0.835 1.090 1.070 7117 CENTURY 1.080 UNCH 261.5 1.079 22.98 2.78 424.2 0.470 0.385 — — 7209 CHEETAH 0.445 — — — 29.28 1.69 56.8 1.490 0.832 1.330 1.310 5273 CHINHIN 1.320 0.010 1062.1 1.322 16.08 3.03 716.6 0.675 0.412 0.545 0.530 7016 CHUAN 0.535 UNCH 237.4 0.539 12.02 3.36 90.2 0.100 0.065 — — 5104 CNI 0.075 — — — — — 54.0 1.240 0.650 0.750 0.730 5136 COMPLET 0.750 -0.030 138.3 0.742 12.50 — 92.8 0.040 0.020 0.025 0.020 5037 COMPUGT 0.025 UNCH 7565.8 0.025 — — 53.4 2.820 1.936 2.480 2.420 5184 CYPARK 2.480 0.020 38.4 2.444 12.71 2.10 647.1 0.865 0.482 0.590 0.575 5276 DANCO 0.590 0.005 200 0.584 14.68 2.54 175.8 0.105 0.050 0.060 0.060 91 DAYA 0.060 -0.005 219.9 0.060 — — 114.6 1.290 0.730 0.975 0.950 5141 DAYANG 0.970 UNCH 407.3 0.964 — — 935.9 1.112 0.746 0.820 0.800 5132 DELEUM 0.820 0.020 227.3 0.810 15.44 3.96 328.2 0.895 0.560 0.580 0.565 7212 DESTINI 0.570 0.005 2065.2 0.572 19.59 — 658.5 2.110 1.426 2.110 2.070 7277 DIALOG 2.080 UNCH 5285.1 2.089 30.28 1.15 11,734.6 6.537 4.312 4.820 4.800 5908 DKSH 4.800 -0.100 5 4.808 16.75 1.98 756.8 0.683 0.219 0.485 0.470 4456 DNEX 0.475 0.005 13686.6 0.478 12.06 1.05 832.7 1.591 1.040 1.130 1.060 5216 DSONIC 1.120 0.060 3991.8 1.114 26.54 3.57 1,512.0 0.295 0.155 0.175 0.165 2097 EASTLND 0.170 0.005 127.6 0.170 — — 41.8 0.860 0.350 0.420 0.405 5259 EATECH 0.405 UNCH 960.1 0.411 — 5.56 204.1 0.370 0.200 0.260 0.245 5036 EDARAN 0.260 0.035 8 0.247 — — 15.6 0.290 0.165 0.205 0.200 7471 EDEN 0.205 0.005 667.6 0.202 — — 63.8 3.341 2.213 2.650 2.600 1368 EDGENTA 2.600 -0.050 1843.6 2.612 17.69 3.08 2,162.2 0.590 0.220 0.335 0.335 64 EFFICEN 0.335 0.005 224.3 0.335 — — 237.6 1.000 0.776 — — 5081 EIG 0.850 — — — 17.86 3.53 201.6 2.087 1.090 1.710 1.670 5208 EITA 1.710 0.010 87.5 1.705 11.37 2.34 222.3 1.508 1.102 1.220 1.160 5056 ENGTEX 1.190 0.020 3066.2 1.191 6.84 0.84 440.9

0.624 0.370 0.520 0.520 6939 FIAMMA 0.520 -0.005 50.5 0.520 10.51 2.88 275.6 0.440 0.355 0.380 0.370 9318 FITTERS 0.380 UNCH 47.1 0.373 — — 182.6 1.468 1.084 1.290 1.280 7210 FREIGHT 1.290 0.010 40.1 1.288 11.05 3.88 240.1 0.425 0.135 0.395 0.375 128 FRONTKN 0.375 -0.010 14852.2 0.383 14.42 1.33 395.0 0.295 0.150 0.245 0.240 9377 FSBM 0.245 0.015 85 0.244 — — 34.6 3.096 2.384 2.930 2.860 5209 GASMSIA 2.870 -0.030 43.5 2.902 21.94 4.48 3,685.1 0.820 0.615 0.670 0.655 78 GDEX 0.660 -0.005 4008.6 0.662 98.51 0.38 3,680.3 6.302 4.225 5.940 5.850 4715 GENM 5.860 -0.090 7097.5 5.872 12.01 1.74 34,796.9 10.000 7.449 9.960 9.840 3182 GENTING 9.960 -0.020 2957.5 9.905 13.40 1.15 38,075.6 0.330 0.185 — — 5079 GETS 0.200 — — — — — 25.2 3.010 2.730 2.770 2.740 3204 GKENT 2.740 -0.010 1485.9 2.745 14.74 2.43 1,543.4 0.555 0.300 — — 7676 GUNUNG 0.395 — — — — — 93.3 4.510 2.084 4.510 4.490 7668 HAIO 4.510 0.010 161.1 4.500 21.97 3.18 1,346.9 0.335 0.200 0.215 0.205 7253 HANDAL 0.215 0.005 56.2 0.207 — — 34.4 9.350 7.192 9.060 9.020 3034 HAPSENG 9.050 -0.110 125.2 9.044 21.29 3.87 22,531.6 0.994 0.660 0.720 0.660 2062 HARBOUR 0.690 0.015 4.8 0.675 8.30 2.90 276.3 4.077 2.938 3.890 3.880 5008 HARISON 3.880 -0.020 42.7 3.889 12.03 6.44 265.7 1.210 0.386 1.190 1.130 185 HSSEB 1.130 -0.050 1580.1 1.157 23.74 0.56 360.6 0.150 0.050 0.065 0.060 7013 HUBLINE 0.065 0.005 1975.3 0.061 27.08 — 76.2 0.480 0.210 0.225 0.220 5255 ICON 0.225 -0.005 239.8 0.224 — — 264.9 6.666 5.512 5.980 5.860 5225 IHH 5.860 -0.120 4700.7 5.876 52.60 0.51 48,280.9 0.920 0.710 0.710 0.710 5614 ILB 0.710 -0.005 35.9 0.710 — — 138.5 1.000 0.670 — — 5673 IPMUDA 0.685 — — — — 4.38 49.6 2.166 1.325 1.700 1.700 58 JCBNEXT 1.700 0.050 5.8 1.700 29.98 1.18 238.0 0.310 0.235 0.270 0.255 8923 JIANKUN 0.270 UNCH 90.5 0.270 — — 45.0 0.395 0.295 — — 8672 KAMDAR 0.365 — — — — — 72.3 1.862 1.606 1.710 1.690 6491 KFIMA 1.710 UNCH 67.3 1.704 18.63 5.26 482.6 0.739 0.236 0.620 0.615 151 KGB 0.615 -0.010 297.1 0.616 12.35 1.63 141.3 1.680 1.020 1.060 1.060 5035 KNUSFOR 1.060 0.010 10 1.060 — 1.89 105.6 4.290 3.803 4.230 4.200 5878 KPJ 4.230 UNCH 90.3 4.218 30.24 1.65 4,526.1 1.678 1.022 1.310 1.300 5843 KPS 1.300 -0.010 61.3 1.304 1083.3 4.81 648.7 0.590 0.485 0.530 0.520 9121 KPSCB 0.530 0.005 97.1 0.525 11.45 — 78.3 0.225 0.115 0.145 0.145 4847 KTB 0.145 UNCH 60 0.145 — — 58.4 0.628 0.299 0.530 0.510 6874 KUB 0.515 UNCH 4618.1 0.520 11.50 1.94 286.6 0.380 0.240 0.260 0.255 7170 LFECORP 0.255 UNCH 269.6 0.256 27.13 — 46.3 0.650 0.420 0.535 0.520 8486 LIONFIB 0.535 0.015 113.5 0.530 8.27 — 123.9 0.890 0.449 0.850 0.815 5143 LUXCHEM 0.845 UNCH 1649.6 0.842 15.23 2.76 713.9 2.306 1.670 1.890 1.870 3859 MAGNUM 1.880 0.010 485.6 1.880 14.11 6.38 2,703.0 1.592 0.968 1.100 1.080 5264 MALAKOF 1.080 -0.010 5157.3 1.090 2.20 5.56 5,400.0 0.179 0.135 0.145 0.140 3514 MARCO 0.145 UNCH 349 0.140 8.73 3.45 152.9 6.493 5.368 5.800 5.740 6012 MAXIS 5.790 0.020 1564.8 5.778 20.89 3.45 45,222.9 0.955 0.670 0.830 0.810 5077 MAYBULK 0.820 0.015 1944.1 0.822 — — 820.0 2.636 2.054 2.150 2.150 5983 MBMR 2.150 UNCH 10 2.150 13.04 2.09 840.4 1.322 0.655 0.700 0.695 4502 MEDIA 0.700 UNCH 1632.1 0.698 — 11.43 776.4 0.687 0.475 0.485 0.475 5090 MEDIAC 0.485 0.005 188.3 0.480 2.13 6.33 818.3 1.070 0.550 0.860 0.850 7234 MESB 0.860 0.020 30 0.855 — — 36.1 4.000 1.925 3.690 3.420 3069 MFCB 3.690 0.260 654.1 3.561 9.23 1.36 1,484.3 1.160 0.625 0.670 0.645 5186 MHB 0.650 0.010 891.1 0.656 — — 1,040.0 7.752 6.720 7.390 7.280 3816 MISC 7.340 UNCH 393.3 7.324 17.28 1.91 32,764.2 2.606 2.154 2.350 2.300 2194 MMCCORP 2.350 0.010 1096.4 2.341 14.54 1.70 7,155.9 0.395 0.205 0.305 0.300 59 MMODE 0.300 0.005 225.3 0.300 — 2.00 48.8 0.100 0.045 0.045 0.045 43 MTRONIC 0.045 UNCH 99.8 0.045 — — 42.7 0.280 0.115 0.180 0.170 3891 MUIIND 0.175 -0.005 865.9 0.175 — — 513.2 3.050 1.950 2.350 2.330 3905 MULPHA 2.340 -0.020 25.2 2.339 4.77 — 747.9 2.370 1.385 2.070 2.030 138 MYEG 2.050 0.010 6837.6 2.051 36.80 0.67 7,392.9 0.910 0.345 0.715 0.710 9806 NATWIDE 0.715 -0.015 19.1 0.715 — — 86.0 0.140 0.055 0.075 0.065 4464 NICORP 0.070 UNCH 8165 0.070 5.93 — 61.4 0.828 0.631 — — 5533 OCB 0.740 — — — 14.68 1.35 76.1 0.985 0.750 0.925 0.920 172 OCK 0.925 -0.005 98.2 0.923 28.37 0.65 806.1 3.460 1.775 2.760 2.740 5201 OLDTOWN 2.750 UNCH 394.4 2.746 19.63 2.55 1,273.9 0.210 0.070 0.160 0.150 3018 OLYMPIA 0.150 -0.010 17081.3 0.155 5.60 — 153.5 2.540 1.140 1.160 1.140 5260 OWG 1.150 -0.010 404.2 1.150 46.37 — 296.1 0.498 0.380 0.385 0.385 8419 PANSAR 0.385 UNCH 28.9 0.385 22.78 2.60 107.8 0.680 0.432 0.640 0.625 5125 PANTECH 0.630 -0.010 1064.8 0.633 13.10 2.73 468.1 0.885 0.510 0.540 0.530 5657 PARKSON 0.535 UNCH 329.1 0.534 — — 585.2 1.310 1.066 1.250 1.240 5041 PBA 1.250 0.010 140 1.242 6.55 3.20 414.1 0.095 0.040 0.065 0.050 6254 PDZ 0.055 0.010 42839.5 0.057 28.95 — 47.8 1.250 0.876 0.990 0.970 5133 PENERGY 0.980 -0.015 98.7 0.973 — 2.04 315.3 1.550 1.540 — — 7108 PERDANA 1.540 — — — — — 1,198.8 0.155 0.040 0.050 0.045 47 PERISAI 0.045 -0.005 643 0.045 — — 56.7 0.390 0.115 0.390 0.355 7080 PERMAJU 0.385 0.020 9118.6 0.374 — — 75.4 1.770 1.510 1.630 1.630 5219 PESTECH 1.630 UNCH 253.8 1.630 12.77 — 1,244.3 25.100 22.389 24.460 24.200 5681 PETDAG 24.220 -0.260 110.5 24.241 23.96 2.97 24,061.5 0.250 0.030 — — 7027 PETONE 0.055 — — — 8.33 — 2.8 5.524 4.140 4.200 4.190 7081 PHARMA 4.190 -0.010 13.2 4.196 26.70 3.58 1,088.7 0.189 0.118 0.135 0.135 7201 PICORP 0.135 UNCH 130.9 0.135 — 4.52 88.8 0.420 0.225 0.300 0.275 7163 PJBUMI 0.275 -0.020 6.2 0.299 — — 22.6 5.665 3.117 5.470 5.430 4634 POS 5.450 -0.010 843.3 5.453 46.19 1.96 4,266.1 2.516 1.601 1.800 1.780 5204 PRESBHD 1.790 0.010 161.7 1.791 77.83 1.82 866.4 2.270 1.450 1.490 1.450 8346 PRKCORP 1.460 -0.030 123.5 1.454 — — 146.0 0.395 0.155 0.395 0.375 186 PTRANS 0.390 0.015 16695.1 0.384 14.72 1.15 445.7 0.914 0.790 0.815 0.800 5272 RANHILL 0.815 0.010 43.5 0.807 11.45 9.57 724.0 0.360 0.165 0.290 0.285 37 RGB 0.285 -0.005 4719.8 0.285 14.04 2.11 381.4 0.360 0.305 0.330 0.325 8885 RPB 0.325 -0.005 25 0.328 — — 279.0 0.687 0.390 0.410 0.400 8567 SALCON 0.405 0.005 4418.8 0.404 — — 274.5 1.147 0.770 0.860 0.820 5147 SAMCHEM 0.850 0.030 2282.4 0.848 14.48 4.12 231.2 0.315 0.110 0.290 0.275 9113 SANBUMI 0.275 -0.015 4469.9 0.281 — — 62.3 2.364 1.951 2.060 2.040 99 SCICOM 2.040 0.010 62.9 2.047 15.72 4.41 725.1 0.215 0.090 0.130 0.125 7158 SCOMI 0.130 UNCH 3910.2 0.127 — — 249.3 0.270 0.090 0.105 0.100 7045 SCOMIES 0.105 -0.005 357 0.104 — — 245.9 1.160 0.950 0.950 0.950 7053 SEEHUP 0.950 UNCH 13.4 0.950 — 7.58 49.7 0.769 0.559 0.680 0.670 9792 SEG 0.670 -0.010 90.9 0.672 26.27 5.22 847.0 1.911 1.120 1.460 1.430 5250 SEM 1.450 0.010 239.2 1.441 41.67 1.59 1,788.4 2.100 1.324 1.550 1.520 5218 SENERGY 1.550 -0.010 4859.1 1.534 73.11 0.65 9,287.8 2.250 1.475 2.250 2.170 5279 SERBADK 2.230 0.030 5438.4 2.227 8.69 — 2,977.1 9.700 7.319 9.090 9.030 4197 SIME 9.070 0.040 5135.5 9.071 30.95 2.98 61,683.6 0.789 0.650 — — 9431 SJC 0.650 — — — 34.76 1.54 26.3 1.380 1.080 1.110 1.080 5242 SOLID 1.110 UNCH 86.3 1.099 36.04 0.72 185.8 2.550 2.140 2.370 2.360 6084 STAR 2.370 UNCH 1609.2 2.364 42.25 6.33 1,750.4 3.090 2.262 2.780 2.780 9865 SUIWAH 2.780 -0.020 0.1 2.780 16.66 1.26 169.6 0.100 0.045 0.050 0.045 1201 SUMATEC 0.050 UNCH 4740.3 0.049 — — 193.3 4.520 2.850 4.520 4.420 5211 SUNWAY 4.450 0.050 3898.1 4.459 14.44 2.00 9,361.6 2.257 1.865 2.100 2.080 6521 SURIA 2.100 -0.010 24 2.093 9.88 3.33 605.2 0.345 0.235 0.250 0.245 5173 SYSCORP 0.245 UNCH 160.9 0.246 51.04 — 294.0 0.490 0.285 0.385 0.375 7228 T7GLOBAL 0.385 0.010 486 0.382 20.48 — 146.9 1.722 1.370 — — 8524 TALIWRK 1.390 — — — 26.23 5.76 1,681.2 2.667 1.419 2.400 2.340 5140 TASCO 2.350 -0.040 75 2.374 14.83 1.91 470.0 14.800 12.832 14.600 14.520 5347 TENAGA 14.580 0.020 8937.8 14.559 11.86 2.67 82,508.4 1.573 1.070 1.120 1.090 8702 TEXCHEM 1.100 -0.050 82 1.098 59.46 18.18 136.5 0.195 0.045 0.055 0.055 7206 THHEAVY 0.055 0.005 714.8 0.055 — — 61.7 6.698 5.690 6.450 6.350 4863 TM 6.400 -0.010 633.8 6.393 31.98 3.38 24,050.8 0.990 0.735 0.745 0.735 101 TMCLIFE 0.735 -0.005 700.7 0.738 61.25 0.16 1,276.1 1.806 1.459 1.600 1.580 8397 TNLOGIS 1.600 0.010 480.3 1.595 9.87 1.25 732.2 1.060 0.380 0.640 0.590 7218 TOCEAN 0.630 0.020 55.4 0.614 39.38 — 25.8 1.000 0.735 — — 5167 TURBO 0.775 — — — 27.48 6.45 83.7 2.892 2.400 — — 7137 UMS 2.700 — — — 17.11 2.22 109.9 0.945 0.280 0.335 0.315 5243 UMWOG 0.335 0.010 25811 0.325 — — 724.3 1.294 1.020 — — 7091 UNIMECH 1.030 — — — 15.99 2.91 135.1 0.730 0.365 — — 5754 UTUSAN 0.395 — — — — — 43.7 1.980 1.280 1.330 1.310 7250 UZMA 1.320 0.010 76 1.320 13.11 — 422.4 1.080 0.600 1.020 1.000 7240 VOIR 1.020 0.020 133.5 1.006 — — 148.1 2.140 1.655 1.990 1.980 5016 WARISAN 1.980 -0.010 52.4 1.980 — 1.52 133.1 0.580 0.420 — — 7692 WIDETEC 0.580 — — — 35.15 — 26.0 4.330 3.542 3.870 3.790 5246 WPRTS 3.870 0.050 623.5 3.830 22.15 3.38 13,196.7 1.448 1.020 1.100 1.060 5267 XINHWA 1.080 UNCH 369 1.076 22.98 0.93 233.3 0.075 0.020 0.035 0.035 7122 YFG 0.035 UNCH 899 0.035 — — 21.3 3.679 2.794 3.670 3.600 7293 YINSON 3.650 0.010 680 3.644 16.99 0.55 3,988.7 1.715 1.380 1.420 1.380 4677 YTL 1.390 -0.030 20290.3 1.392 18.19 3.60 15,165.7FINANCE 13.674 11.980 12.800 12.460 5139 AEONCR 12.800 0.180 28.4 12.681 10.46 3.28 2,764.8 2.949 2.018 2.650 2.590 5185 AFFIN 2.610 UNCH 646.8 2.629 8.75 2.87 5,071.1 4.400 3.446 3.900 3.850 2488 AFG 3.890 -0.100 362.5 3.880 11.55 4.11 6,022.1 15.600 9.492 14.520 14.520 1163 ALLIANZ 14.520 UNCH 1.4 14.520 8.46 0.62 2,533.8 15.100 9.511 14.020 14.020 1163PA ALLIANZ-PA 14.020 0.020 0.2 14.020 — 0.77 1,217.6 5.551 3.754 4.330 4.290 1015 AMBANK 4.290 -0.020 5216.8 4.307 9.70 4.10 12,930.9 1.950 1.263 1.950 1.780 5088 APEX 1.810 0.020 1075.2 1.854 24.69 2.76 386.5 4.610 3.782 4.400 4.380 5258 BIMB 4.400 UNCH 31 4.381 12.49 2.95 7,206.1 10.760 7.782 10.420 10.200 1818 BURSA 10.420 UNCH 725.7 10.314 26.54 3.55 5,600.8 7.080 4.394 6.870 6.760 1023 CIMB 6.760 -0.150 6674.1 6.770 14.39 2.96 61,192.3 0.705 0.320 0.545 0.525 2143 ECM 0.545 0.005 824 0.528 58.60 — 156.2 1.218 1.065 1.160 1.160 5228 ELKDESA 1.160 UNCH 144.5 1.160 11.78 5.79 338.5 16.300 12.501 15.640 15.440 5819 HLBANK 15.640 0.160 473.4 15.51 14.92 2.62 33,903.1 10.100 7.327 — — 5274 HLCAP 9.980 — — — 30.43 1.20 2,464.0 17.735 13.892 17.100 16.740 1082 HLFG 16.940 -0.060 35.8 16.84 12.86 2.24 19,438.9 2.610 2.590 — — 6688 HWANG 2.610 — — — 20.03 1.15 666.0 1.140 0.642 1.030 0.985 3379 INSAS 1.020 0.045 5198 1.009 3.74 0.98 707.2 0.970 0.892 0.960 0.960 3379PA INSAS-PA 0.960 UNCH 8.4 0.960 — 6.25 127.3 0.395 0.125 0.310 0.305 3441 JOHAN 0.305 UNCH 2229 0.306 — — 190.0 0.690 0.415 0.525 0.525 6483 KENANGA 0.525 UNCH 46.1 0.525 32.21 4.29 379.3 19.302 15.214 17.880 17.820 8621 LPI 17.820 -0.020 60.8 17.85 19.86 4.60 5,916.0 0.917 0.800 0.820 0.820 1198 MAA 0.820 -0.005 68 0.820 8.75 10.98 224.3 3.260 2.702 — — 1058 MANULFE 3.200 — — — 11.84 3.28 647.6 9.840 7.250 9.640 9.490 1155 MAYBANK 9.600 0.110 17531 9.558 12.98 5.42 101,488 1.380 0.816 1.260 1.230 1171 MBSB 1.240 -0.020 2982.1 1.243 23.44 2.42 7,346.3 2.840 2.440 2.530 2.490 6459 MNRB 2.490 -0.040 196.2 2.501 8.53 — 795.8 1.830 1.160 1.440 1.430 5237 MPHBCAP 1.430 -0.010 64 1.434 17.04 — 1,022.5 1.309 1.250 1.260 1.260 6009 P&O 1.260 UNCH 32.3 1.260 19.66 7.70 309.9 20.740 18.835 20.600 20.560 1295 PBBANK 20.600 0.020 4079.5 20.58 15.00 2.86 79,972.0 1.887 1.110 1.660 1.630 9296 RCECAP 1.630 -0.030 385.2 1.642 6.61 1.84 578.5 5.550 4.473 5.070 5.000 1066 RHBBANK 5.000 -0.050 637.2 5.017 11.34 2.40 20,050.2 0.708 0.422 0.680 0.670 4898 TA 0.675 -0.005 839.9 0.675 3.17 2.52 1,155.5 4.250 3.800 3.910 3.840 6139 TAKAFUL 3.890 -0.010 189.9 3.894 17.18 4.03 3,202.0 1.629 0.980 1.180 1.140 5230 TUNEPRO 1.160 0.010 3359.6 1.159 15.61 4.48 872.0PROPERTIES 0.852 0.713 0.795 0.790 1007 AMPROP 0.795 0.005 56.1 0.792 46.76 3.77 483.7

MarketsB U R S A M A L A Y S I A M A I N M A R K E T


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1.850 0.990 1.380 1.370 5959 A&M 1.370 UNCH 82.9 1.371 27.08 — 500.1 0.430 0.345 0.400 0.395 1007PA AMPROP-PA 0.395 -0.005 15.2 0.397 — 5.06 114.6 0.230 0.145 0.160 0.155 4057 ASIAPAC 0.160 0.010 792.2 0.156 17.98 — 160.8 0.550 0.420 0.450 0.450 6602 BCB 0.450 0.015 5 0.450 18.29 — 185.6 0.665 0.430 0.430 0.430 9814 BERTAM 0.430 UNCH 40 0.430 1.73 — 88.9 1.400 0.720 1.240 1.210 3239 BJASSET 1.240 0.010 57 1.234 — — 1,474.5 1.500 1.030 1.350 1.300 5738 CHHB 1.350 0.050 11 1.327 — — 372.2 1.706 1.390 1.540 1.480 6718 CRESNDO 1.540 0.040 27.1 1.492 6.31 3.25 431.9 1.720 1.235 — — 5049 CVIEW 1.620 — — — 5.42 9.26 162.0 2.390 2.100 2.270 2.270 5355 DAIMAN 2.270 UNCH 4.2 2.270 20.16 2.42 481.7 1.040 0.500 0.530 0.520 3484 DBHD 0.525 UNCH 267.2 0.525 — — 162.4 2.130 1.400 1.660 1.610 3417 E&O 1.650 0.010 236.4 1.633 19.90 1.82 2,189.1 0.325 0.250 0.295 0.290 3557 ECOFIRS 0.295 UNCH 213 0.291 15.13 — 236.9 1.720 1.260 1.580 1.540 8206 ECOWLD 1.560 UNCH 8433.1 1.558 18.51 — 4,593.2 0.920 0.570 0.780 0.760 6076 ENCORP 0.760 -0.020 104.5 0.766 5.81 — 223.4 3.180 1.850 2.800 2.750 8613 ENRA 2.800 0.120 6.4 2.780 33.94 1.07 381.4 1.240 0.740 1.040 1.030 6815 EUPE 1.040 UNCH 71.1 1.035 — — 133.1 1.360 1.000 1.090 1.070 5283 EWINT 1.090 0.020 327.7 1.078 — — 2,616.0 0.617 0.468 0.520 0.520 6041 FARLIM 0.520 0.005 20 0.520 5.94 3.85 73.0 0.787 0.610 0.650 0.640 5020 GLOMAC 0.650 0.010 13 0.648 4.33 4.62 473.1 0.523 0.367 0.415 0.415 9962 GMUTUAL 0.415 0.005 1 0.415 9.41 4.82 155.9 0.470 0.290 0.400 0.395 1147 GOB 0.395 UNCH 580.5 0.398 8.08 1.27 179.6 1.450 1.110 1.190 1.130 1503 GUOCO 1.160 0.020 61.6 1.147 6.38 1.72 812.5 0.570 0.370 — — 7010 HOOVER 0.460 — — — 45.10 — 18.4 1.407 0.800 0.830 0.820 5062 HUAYANG 0.820 -0.010 97.1 0.828 7.45 4.88 288.6 0.648 0.537 0.570 0.565 4251 IBHD 0.565 0.005 501.2 0.566 8.03 3.33 569.4 1.050 0.755 0.880 0.850 5084 IBRACO 0.880 0.010 7.5 0.855 31.21 3.98 436.8 2.938 2.318 2.830 2.830 1597 IGB 2.830 UNCH 159.5 2.830 9.84 3.53 3,863.8 2.312 1.798 2.080 2.040 5249 IOIPG 2.040 -0.020 9016 2.063 11.17 2.94 11,232.5 0.620 0.370 — — 5175 IVORY 0.390 — — — 20.74 — 191.1 3.290 0.785 1.310 1.290 1589 IWCITY 1.290 -0.010 2579.4 1.296 — — 1,080.2 0.161 0.095 0.100 0.100 6769 JKGLAND 0.100 UNCH 246.6 0.100 14.71 2.30 227.5 0.085 0.040 0.070 0.065 3115 KBUNAI 0.070 0.005 4709.1 0.070 15.22 — 404.4 1.100 0.798 0.950 0.925 7323 KEN 0.950 UNCH 4.8 0.926 4.37 2.63 182.1 1.330 0.995 1.270 1.240 5038 KSL 1.260 0.020 424.1 1.255 4.10 — 1,307.3 0.312 0.210 0.220 0.215 3174 L&G 0.215 UNCH 4548.8 0.217 7.21 — 629.7 1.287 1.051 1.110 1.100 8494 LBICAP 1.100 0.020 15.8 1.104 — 9.55 88.7 2.057 1.546 1.900 1.860 5789 LBS 1.880 -0.020 1024.3 1.871 11.70 2.13 1,275.4 0.460 0.235 0.375 0.355 3573 LIENHOE 0.365 0.010 306.4 0.369 — — 132.0 1.690 0.941 1.360 1.360 7617 MAGNA 1.360 -0.020 53 1.360 68.00 4.41 455.5 1.625 1.281 1.480 1.460 8583 MAHSING 1.470 -0.010 523.3 1.469 11.02 4.42 3,554.1 1.940 0.594 1.160 1.060 6181 MALTON 1.130 0.070 13520.8 1.132 9.03 2.21 596.4 2.828 2.280 2.820 2.800 5236 MATRIX 2.800 UNCH 754.7 2.808 8.96 4.91 1,642.6 1.880 1.000 1.530 1.530 7189 MBWORLD 1.530 UNCH 27 1.530 6.36 — 240.8 1.200 0.750 — — 5182 MCT 0.900 — — — 18.95 — 1,201.3 0.525 0.405 0.430 0.425 5040 MEDAINC 0.430 UNCH 7.1 0.429 — — 211.8 1.020 0.680 0.880 0.845 1694 MENANG 0.855 UNCH 31.1 0.852 7.14 — 228.4 0.605 0.250 0.400 0.395 8141 MJPERAK 0.400 UNCH 485 0.398 95.24 5.35 102.8 2.614 2.060 2.120 2.080 6114 MKH 2.110 0.020 393.5 2.098 5.44 3.21 1,184.4 0.360 0.260 0.265 0.260 8893 MKLAND 0.265 UNCH 164.5 0.265 17.67 — 319.9 0.215 0.085 0.150 0.150 6548 MPCORP 0.150 UNCH 100 0.150 — — 43.1 1.761 1.130 1.200 1.180 1651 MRCB 1.180 -0.010 1087.7 1.193 9.90 2.33 2,587.3 1.080 0.595 0.600 0.600 9539 MUH 0.600 UNCH 13.9 0.600 — — 33.9 0.365 0.230 0.290 0.275 3913 MUIPROP 0.285 UNCH 277 0.287 316.67 — 217.8 1.900 1.140 1.220 1.180 5073 NAIM 1.180 0.010 13.5 1.193 — — 295.0 2.978 2.192 2.320 2.320 5827 OIB 2.320 UNCH 5 2.320 8.73 3.02 336.1 1.710 1.346 1.640 1.630 5053 OSK 1.640 UNCH 315.1 1.639 9.31 4.57 2,300.7 1.849 1.257 1.780 1.770 1724 PARAMON 1.780 UNCH 113.5 1.778 11.66 4.78 755.2 0.695 0.445 0.605 0.600 6912 PASDEC 0.600 UNCH 150 0.601 — — 171.6 1.820 1.540 1.660 1.610 5075 PLENITU 1.660 -0.020 11 1.616 12.58 2.71 633.3 0.365 0.225 0.350 0.345 2208 PTGTIN 0.345 UNCH 305 0.346 — — 119.4 1.270 0.900 1.000 0.990 4596 SAPRES 1.000 0.010 14 0.999 1.34 3.00 139.6 0.820 0.665 0.670 0.665 5207 SBCCORP 0.665 -0.005 79.7 0.666 — — 156.2 1.160 0.785 1.100 1.090 2224 SDRED 1.090 UNCH 31.5 1.092 8.34 2.29 464.5 0.580 0.370 0.455 0.435 4286 SEAL 0.435 -0.010 20.3 0.455 32.22 — 105.7 2.926 2.761 2.850 2.850 6017 SHL 2.850 UNCH 3.3 2.850 8.54 7.02 690.1 0.305 0.135 0.230 0.225 4375 SMI 0.225 -0.010 432.5 0.230 1.67 — 47.2 1.000 0.690 0.800 0.795 5213 SNTORIA 0.800 UNCH 28.9 0.797 11.16 — 399.3 5.190 4.211 4.860 4.820 1783 SPB 4.830 -0.030 5.2 4.847 10.85 2.48 1,659.7 4.311 2.970 3.640 3.580 8664 SPSETIA 3.630 UNCH 1449.3 3.629 5.29 5.51 10,840.4 1.590 0.820 1.440 1.420 3743 SUNSURIA 1.430 -0.020 122.7 1.428 14.01 — 1,142.3 1.035 0.604 0.880 0.875 1538 SYMLIFE 0.880 UNCH 405 0.880 7.80 3.41 272.8 0.410 0.215 0.390 0.375 5158 TAGB 0.380 -0.005 1528.4 0.382 7.74 1.05 2,022.3 7.600 6.135 — — 2305 TAHPS 7.010 — — — 31.68 0.71 524.7 0.055 0.035 0.055 0.050 2259 TALAMT 0.055 0.005 1966.7 0.052 — — 232.1 1.465 1.190 1.210 1.200 5191 TAMBUN 1.210 0.010 28.4 1.210 4.97 8.26 524.3 0.140 0.055 0.110 0.100 2429 TANCO 0.110 0.010 2400.8 0.105 — — 72.8 0.315 0.170 0.275 0.240 7889 THRIVEN 0.270 0.025 302 0.263 — — 101.7 0.085 0.040 0.060 0.055 7079 TIGER 0.060 UNCH 1836.1 0.057 — — 88.3 1.930 1.420 1.550 1.490 5239 TITIJYA 1.500 0.010 298 1.505 7.67 0.33 615.0 1.044 0.937 0.950 0.940 5401 TROP 0.945 UNCH 421.4 0.944 9.19 2.61 1,385.1 1.360 0.995 1.200 1.170 5148 UEMS 1.180 -0.010 539.3 1.178 21.85 1.36 5,354.2 2.680 2.096 2.600 2.570 5200 UOADEV 2.590 -0.010 221.8 2.588 6.27 5.79 4,491.7 0.525 0.229 0.390 0.385 6378 WMG 0.390 -0.005 19 0.387 — — 166.2 1.279 0.866 — — 7003 Y&G 0.955 — — — 14.71 — 190.4 1.630 1.330 1.410 1.390 3158 YNHPROP 1.410 0.010 323 1.404 22.10 — 745.9 1.610 1.070 1.440 1.430 7066 YONGTAI 1.440 UNCH 162.6 1.438 40.79 — 627.4 0.670 0.550 0.560 0.555 2577 YTLLAND 0.560 UNCH 45 0.560 55.45 — 472.8MINING 1.620 1.150 1.620 1.570 2186 KUCHAI 1.620 0.030 401.4 1.597 — 0.52 200.5PLANTATIONS 0.285 0.195 — — 7054 AASIA 0.200 — — — 200.00 — 132.0 19.575 17.198 18.900 18.900 1899 BKAWAN 18.900 UNCH 26.9 18.900 12.03 2.91 8,239.5 8.639 8.380 8.400 8.400 5069 BLDPLNT 8.400 -0.050 0.3 8.400 50.48 0.48 785.4 1.666 1.349 1.630 1.610 5254 BPLANT 1.610 -0.020 2147.5 1.630 16.72 8.70 2,576.0 1.000 0.648 0.950 0.935 8982 CEPAT 0.945 UNCH 890.6 0.942 9.02 1.59 300.9 8.244 7.360 — — 1929 CHINTEK 7.900 — — — 40.66 2.41 721.8 0.650 0.385 0.610 0.580 3948 DUTALND 0.600 0.005 6882.3 0.592 38.46 — 507.7 9.100 7.205 — — 5029 FAREAST 9.000 — — — 8.25 3.33 1,272.5 2.506 1.412 1.680 1.590 5222 FGV 1.640 0.050 13322.7 1.638 92.13 0.61 5,983.0 11.679 10.122 10.720 10.660 2291 GENP 10.720 0.060 156.9 10.710 19.15 1.26 8,612.0 0.663 0.501 — — 7382 GLBHD 0.560 — — — 45.90 1.79 124.8 1.406 1.105 — — 2135 GOPENG 1.400 — — — 47.14 2.86 251.1 0.890 0.700 0.700 0.700 7501 HARNLEN 0.700 -0.010 5 0.700 36.65 — 129.8 2.630 2.267 2.620 2.600 5138 HSPLANT 2.600 -0.020 105 2.610 13.80 5.58 2,080.0 3.616 2.932 3.050 3.050 2216 IJMPLNT 3.050 -0.010 2 3.050 25.17 2.30 2,685.8 0.734 0.650 0.680 0.675 2607 INCKEN 0.680 UNCH 38 0.675 200.0 1.65 286.1 1.475 0.619 1.160 1.150 6262 INNO 1.160 0.010 59.6 1.156 14.18 1.72 555.5 4.757 4.208 4.570 4.530 1961 IOICORP 4.550 -0.010 3248.4 4.550 39.02 2.09 28,591.6 25.137 22.521 24.840 24.620 2445 KLK 24.740 0.120 4179.2 24.724 23.14 2.02 26,410.1 3.680 2.990 3.680 3.600 2453 KLUANG 3.600 -0.080 2 3.640 123.29 0.28 227.4 3.980 3.026 3.930 3.920 5027 KMLOONG 3.920 0.040 18.4 3.924 14.70 3.83 1,222.3 0.695 0.491 0.560 0.540 1996 KRETAM 0.540 -0.015 762.6 0.547 28.57 1.85 1,256.9 1.750 1.240 — — 6572 KWANTAS 1.450 — — — 10.71 — 451.9 1.550 1.240 — — 4936 MALPAC 1.300 — — — 125.00 — 97.5 0.963 0.790 0.890 0.890 5026 MHC 0.890 0.020 5 0.890 10.57 1.69 174.9 2.388 1.700 — — 5047 NPC 1.990 — — — 7.62 0.50 238.8 4.239 3.900 4.000 3.950 2038 NSOP 3.950 0.040 2.2 3.996 31.98 1.52 277.3 0.315 0.190 0.225 0.225 1902 PINEPAC 0.225 UNCH 1 0.225 — — 33.7 1.380 0.920 — — 9695 PLS 1.020 — — — — — 333.2 0.550 0.400 0.405 0.400 5113 RSAWIT 0.405 UNCH 329 0.401 — — 574.5 4.100 3.346 — — 2542 RVIEW 3.700 — — — 15.21 1.62 239.9 3.280 2.900 3.130 3.090 2569 SBAGAN 3.090 -0.150 2 3.110 — 0.65 205.0 0.720 0.505 0.590 0.590 4316 SHCHAN 0.590 UNCH 1 0.590 17.61 — 70.8 3.965 3.480 3.860 3.780 5126 SOP 3.800 -0.030 375.4 3.803 9.68 1.32 2,169.0 1.850 1.520 1.560 1.550 5135 SWKPLNT 1.550 UNCH 7 1.551 10.72 — 434.0 0.730 0.500 0.520 0.510 2054 TDM 0.520 0.010 256.1 0.515 50.00 0.96 862.1 1.207 0.998 1.080 1.060 5112 THPLANT 1.080 UNCH 66 1.074 5.78 5.56 954.6 1.928 1.560 1.690 1.670 9059 TSH 1.680 UNCH 35.1 1.681 44.68 1.19 2,321.4 6.450 5.330 6.380 6.350 2593 UMCCA 6.370 0.050 23 6.361 15.76 3.14 1,333.6 28.700 25.323 28.040 27.700 2089 UTDPLT 27.700 -0.460 3.6 28.022 14.96 1.44 5,765.3HOTELS 0.628 0.483 — — 5592 GCE 0.540 — — — — 3.70 106.4 1.000 0.680 0.815 0.795 1643 LANDMRK 0.795 -0.010 167.7 0.803 — — 420.5 0.255 0.115 0.165 0.155 1287 PMHLDG 0.165 UNCH 1028.8 0.163 — — 153.3 5.620 4.860 5.100 5.040 5517 SHANG 5.040 -0.060 40.2 5.050 28.83 2.78 2,217.6TECHNOLOGY 0.715 0.585 — — 7031 AMTEL 0.630 — — — 57.27 — 31.0 0.420 0.180 0.275 0.265 5195 CENSOF 0.275 0.010 1680 0.271 — — 138.0 0.400 0.105 0.250 0.240 51 CUSCAPI 0.245 -0.005 885.3 0.242 — — 118.3 0.729 0.283 0.600 0.590 7204 D&O 0.595 -0.005 723.4 0.595 39.14 — 594.1 0.710 0.110 0.380 0.375 8338 DATAPRP 0.375 -0.005 1641.5 0.376 — — 158.0 0.235 0.140 0.150 0.145 29 DIGISTA 0.150 UNCH 1007.3 0.149 — — 89.9 1.578 1.304 1.350 1.340 5162 ECS 1.350 UNCH 33.2 1.344 8.50 4.44 243.0 1.230 0.539 1.220 1.160 65 EFORCE 1.200 0.020 2219.3 1.192 77.92 1.04 496.5 2.950 1.134 2.700 2.640 90 ELSOFT 2.700 UNCH 152.9 2.684 22.78 1.85 742.9 1.870 0.790 1.690 1.660 21 GHLSYS 1.670 -0.010 1058.5 1.675 55.48 0.30 1,101.3 0.455 0.210 0.345 0.335 82 GPACKET 0.345 0.005 3178.3 0.339 3.14 — 261.8 0.280 0.175 0.245 0.240 56 GRANFLO 0.245 UNCH 550.6 0.243 — — 118.4 6.560 2.924 6.560 6.500 7022 GTRONIC 6.550 0.020 555.8 6.538 67.81 0.61 1,866.2 0.923 0.490 0.740 0.720 5028 HTPADU 0.730 -0.015 135.1 0.732 6.47 6.85 73.9 2.650 1.980 2.550 2.520 166 INARI 2.550 0.020 2374.4 2.541 21.78 2.92 5,115.7 0.435 0.075 0.190 0.190 9393 ITRONIC 0.190 -0.005 20 0.190 — — 19.5 0.688 0.453 0.550 0.540 5161 JCY 0.540 UNCH 1135.4 0.544 33.96 8.33 1,121.5 16.216 7.459 14.800 14.500 9334 KESM 14.800 -0.040 37 14.561 16.46 0.44 636.6 0.180 0.060 0.160 0.150 143 KEYASIC 0.150 -0.005 4058.2 0.154 — — 133.5 14.300 7.086 13.940 13.760 3867 MPI 13.900 0.040 164.6 13.892 14.84 1.94 2,917.4 1.467 0.960 1.320 1.240 5011 MSNIAGA 1.320 -0.010 24.8 1.265 17.65 3.79 79.7 1.327 0.343 1.030 1.010 83 NOTION 1.020 0.010 281.6 1.020 15.18 2.70 337.2 0.605 0.430 0.460 0.450 9008 OMESTI 0.460 -0.015 21 0.455 — — 198.1 0.375 0.250 0.270 0.265 41 PANPAGE 0.265 -0.005 606.6 0.265 — — 70.4 5.080 1.120 4.880 4.710 7160 PENTA 4.710 -0.130 726.4 4.758 19.72 — 690.3 0.610 0.250 0.370 0.370 9075 THETA 0.370 0.005 51.2 0.370 — — 39.7 0.197 0.073 0.120 0.110 118 TRIVE 0.115 UNCH 10045.1 0.112 52.27 — 153.7 4.207 2.184 4.120 4.030 5005 UNISEM 4.080 0.010 349.2 4.069 16.92 2.70 2,994.0

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)

4.800 1.727 4.570 4.460 97 VITROX 4.500 -0.050 1177.6 4.491 28.23 0.72 2,115.4 1.750 0.626 1.350 1.330 8 WILLOW 1.330 -0.010 390.3 1.335 16.22 1.50 329.8INFRASTRUCTURE PROJECT COMPANIES 5.087 4.583 4.880 4.840 6947 DIGI 4.880 0.010 2890.5 4.869 24.55 4.04 37,942.0 6.150 5.431 5.950 5.850 6645 LITRAK 5.950 0.070 418.9 5.878 14.55 5.04 3,135.5 0.372 0.215 0.240 0.225 5078 M&G 0.240 0.015 1360.1 0.234 — 20.83 173.7 1.180 0.700 0.735 0.700 6807 PUNCAK 0.705 -0.030 2307.6 0.711 — — 316.7 9.900 7.284 9.410 9.330 5031 TIMECOM 9.410 0.010 80.9 9.379 21.02 2.11 5,471.5 1.539 1.400 1.420 1.400 6742 YTLPOWR 1.410 -0.010 1459.1 1.410 16.23 3.55 11,481.8CLOSED-END FUNDS 2.690 2.290 2.660 2.620 5108 ICAP 2.660 -0.020 30.8 2.642 231.30 — 372.4EXCHANGE TRADED FUNDS 1.137 1.070 — — 0800EA ABFMY1 1.137 — — — — 5.00 1,501.3 2.000 1.680 2.000 1.990 0822EA CIMBA40 2.000 0.030 20.5 2.000 — 3.70 2.7 1.670 1.290 1.620 1.610 0823EA CIMBC50 1.620 UNCH 7.7 1.614 — — 15.8 1.865 1.700 1.850 1.850 0820EA FBMKLCI-EA 1.850 UNCH 5.4 1.850 — 1.78 3.1 1.075 0.977 — — 0826EA METFAPA 1.075 — — — — — 20.4 0.952 0.900 — — 0825EA METFSID 0.900 — — — — 2.60 47.7 1.115 1.045 — — 0821EA MYETFDJ 1.105 — — — — 2.02 307.1 1.110 1.010 — — 0824EA MYETFID 1.100 — — — — 1.38 55.9REITS 1.039 0.880 0.895 0.890 4952 AHP 0.895 UNCH 23 0.894 67.29 4.69 196.9 1.659 1.415 — — 5116 ALAQAR 1.500 — — — 18.18 5.03 1,092.3 1.050 0.995 1.040 1.020 5269 ALSREIT 1.020 -0.020 3.4 1.022 11.89 6.13 591.6 0.828 0.710 0.715 0.710 5120 AMFIRST 0.715 UNCH 162 0.715 21.80 5.68 490.8 0.980 0.858 0.955 0.950 5127 ARREIT 0.955 0.005 283.9 0.951 13.88 5.87 547.4 1.170 0.978 1.140 1.140 5130 ATRIUM 1.140 UNCH 10 1.140 22.71 5.96 138.9 1.689 1.497 1.590 1.590 5106 AXREIT 1.590 UNCH 0.7 1.590 16.53 5.33 1,757.2 1.664 1.422 1.480 1.460 5180 CMMT 1.480 UNCH 314.6 1.468 19.73 5.66 3,011.3 1.532 1.192 1.280 1.270 5121 HEKTAR 1.270 UNCH 63.1 1.272 12.34 9.00 586.2 1.750 1.406 1.710 1.690 5227 IGBREIT 1.710 UNCH 2983.1 1.702 21.16 5.08 5,999.1 1.008 0.881 0.945 0.940 5280 KIPREIT 0.940 -0.005 56.6 0.940 22.27 3.11 475.0 8.007 7.187 7.850 7.790 5235SS KLCC 7.810 UNCH 40.7 7.815 16.02 4.56 14,099.7 1.320 1.129 1.300 1.300 5123 MQREIT 1.300 UNCH 276.1 1.300 16.01 9.76 1,388.4 1.866 1.551 1.740 1.730 5212 PAVREIT 1.740 UNCH 1631.3 1.734 17.37 4.62 5,272.4 1.749 1.547 1.720 1.710 5176 SUNREIT 1.720 UNCH 138.3 1.719 11.94 5.34 5,065.5 1.220 1.095 — — 5111 TWRREIT 1.220 — — — 17.50 5.68 342.2 1.796 1.561 1.640 1.640 5110 UOAREIT 1.640 UNCH 4 1.640 15.46 5.76 693.5 1.209 1.019 1.200 1.190 5109 YTLREIT 1.190 UNCH 288.3 1.192 — 5.87 2,028.2SPAC 0.720 0.680 — — 5234 CLIQ 0.720 — — — — — 454.3 0.480 0.460 — — 5241 SONA 0.475 — — — — — 670.1

MarketsB U R S A M A L A Y S I A M A I N M A R K E T . A C E M A R K E T


CONSUMER PRODUCTS 0.285 0.195 0.265 0.255 179 BIOHLDG 0.255 Unch 10364.2 0.260 19.92 — 205.9 0.310 0.200 0.225 0.220 170 KANGER 0.225 0.010 422.9 0.221 23.68 — 179.7 0.450 0.200 0.355 0.350 148 SUNZEN 0.350 Unch 465 0.352 50.72 — 168.8 0.065 0.025 0.065 0.060 95 XINGHE 0.060 -0.005 15040.9 0.060 5.71 — 140.9INDUSTRIAL PRODUCTS 0.245 0.137 0.175 0.170 105 ASIAPLY 0.170 0.005 116 0.172 18.68 2.94 56.7 0.095 0.030 0.040 0.035 72 AT 0.040 Unch 36749.3 0.040 — — 49.5 0.445 0.245 0.315 0.300 163 CAREPLS 0.310 Unch 4473.3 0.307 55.36 0.97 149.8 0.330 0.085 0.220 0.195 102 CONNECT 0.210 0.010 3074.2 0.207 22.58 — 67.6 0.520 0.335 0.395 0.355 100 ESCERAM 0.380 0.030 718.6 0.376 12.26 1.58 78.1 0.350 0.215 0.315 0.305 175 HHGROUP 0.305 -0.010 1664.5 0.311 217.86 — 94.2 0.145 0.065 0.105 0.100 160 HHHCORP 0.105 0.005 824.5 0.100 16.67 — 35.0 0.555 0.165 0.350 0.335 162 IJACOBS 0.345 Unch 1716.2 0.341 19.83 — 46.8 0.165 0.095 0.145 0.135 24 JAG 0.140 Unch 71574.7 0.141 18.92 0.71 177.2 0.250 0.125 0.195 0.185 25 LNGRES 0.190 -0.005 2210.6 0.190 19.79 — 46.0 0.150 0.040 0.050 0.050 70 MQTECH 0.050 Unch 1319 0.050 — — 20.7 0.860 0.361 0.720 0.695 49 OCNCASH 0.700 -0.015 1157.2 0.705 14.37 1.00 156.1 0.610 0.130 0.285 0.275 38 PTB 0.280 Unch 300.6 0.277 — — 42.1 0.175 0.150 0.175 0.165 133 SANICHI 0.165 -0.005 2707.7 0.167 — — 47.2 0.060 0.025 0.035 0.030 109 SCBUILD 0.035 Unch 490.2 0.033 — — 30.9 0.220 0.110 0.175 0.165 1 SCOMNET 0.165 Unch 742.1 0.169 16.02 — 40.1 0.289 0.142 0.225 0.220 28 SCOPE 0.225 0.005 33.1 0.220 27.44 2.22 126.1 0.290 0.115 0.185 0.175 55 SERSOL 0.180 0.005 2251.9 0.181 — — 38.8 1.025 0.177 1.000 0.975 84 TECFAST 0.980 -0.010 2615.3 0.989 42.06 0.51 167.7TECHNOLOGY 0.995 0.160 0.820 0.730 18 ACCSOFT 0.730 -0.040 157.6 0.749 — — 607.9 0.750 0.160 0.610 0.590 181 AEMULUS 0.595 -0.010 4398.9 0.598 71.69 — 261.1 0.455 0.170 0.345 0.335 119 APPASIA 0.340 0.010 265 0.342 — — 106.7 0.450 0.145 0.170 0.150 68 ASDION 0.150 -0.020 127.5 0.165 — — 17.4 1.100 0.615 0.680 0.665 98 BAHVEST 0.675 0.005 912.8 0.673 — — 405.0 0.770 0.615 0.630 0.615 191 CABNET 0.625 -0.005 233 0.618 10.25 — 81.3 0.065 0.030 0.050 0.045 152 DGB 0.050 Unch 6832.6 0.049 — — 26.9 0.075 0.025 0.045 0.040 131 DGSB 0.045 0.010 14046.6 0.044 75.00 — 61.0 0.120 0.050 0.090 0.075 154 EAH 0.085 0.010 41093.6 0.079 42.50 — 126.7 0.260 0.120 0.135 0.130 107 EDUSPEC 0.135 0.010 1239.8 0.130 23.68 — 125.9 0.295 0.060 0.245 0.245 116 FOCUS 0.245 Unch 96.6 0.245 — — 190.4 1.220 0.815 1.170 1.080 104 GENETEC 1.130 -0.020 131 1.112 — — 40.1 0.759 0.431 0.645 0.630 39 GFM 0.635 -0.010 684.7 0.633 25.92 2.28 271.8 0.090 0.030 0.075 0.070 45 GNB 0.075 Unch 1990.2 0.070 — — 21.7 0.185 0.070 0.160 0.160 74 GOCEAN 0.160 Unch 69 0.160 266.67 — 42.1 0.100 0.040 0.065 0.055 174 IDMENSN 0.060 0.005 3280.9 0.060 — — 29.7 0.533 0.227 0.390 0.380 23 IFCAMSC 0.380 -0.010 2015.2 0.383 22.35 1.32 231.2 0.100 0.060 0.075 0.070 94 INIX 0.075 0.010 1020.2 0.070 27.78 — 19.0 0.220 0.100 0.195 0.180 10 IRIS 0.185 -0.005 23388.2 0.187 — — 457.3 2.290 0.450 2.000 1.940 146 JFTECH 1.960 Unch 608.9 1.959 38.74 0.26 247.0 3.420 0.594 3.230 3.120 127 JHM 3.150 -0.080 854.8 3.151 27.04 — 827.8 0.270 0.130 0.190 0.190 111 K1 0.190 Unch 250 0.190 — — 98.6 0.115 0.025 0.035 0.030 36 KGROUP 0.035 0.005 6588.6 0.030 — — 59.9 1.130 0.230 1.040 0.960 176 KRONO 0.960 -0.060 15747.4 0.993 24.06 — 285.5 0.110 0.045 0.110 0.100 17 M3TECH 0.100 -0.005 32768.3 0.104 — — 58.7 0.450 0.220 0.450 0.400 75 MEXTER 0.440 0.035 4163.8 0.428 — — 98.0 0.590 0.420 — — 155 MGRC 0.450 — — — 70.31 — 46.6 1.400 0.855 1.020 0.990 126 MICROLN 0.995 0.010 237 0.999 28.03 — 166.5 0.595 0.316 0.485 0.465 112 MIKROMB 0.475 0.005 5085.3 0.477 19.23 1.66 204.7 0.465 0.065 0.165 0.140 85 MLAB 0.140 -0.020 97601.3 0.153 70.00 — 81.8 0.200 0.160 0.185 0.185 34 MMAG 0.185 Unch 46.2 0.185 — — 50.8 2.050 0.503 1.940 1.860 113 MMSV 1.860 -0.060 3249.2 1.885 17.48 1.08 303.2 0.245 0.055 0.070 0.070 103 MNC 0.070 Unch 1250 0.070 38.89 — 33.5 0.310 0.150 0.255 0.250 156 MPAY 0.255 0.005 2988.7 0.250 — — 181.2 0.735 0.130 0.210 0.205 92 MTOUCHE 0.205 Unch 8069.2 0.205 186.36 — 26.1 0.990 0.616 0.990 0.955 108 N2N 0.960 0.015 12886.9 0.972 23.19 2.08 458.0 0.110 0.015 0.050 0.045 20 NETX 0.045 Unch 3413.3 0.046 — — 56.3 0.065 0.035 0.045 0.040 96 NEXGRAM 0.040 Unch 28048 0.040 — — 75.3 0.115 0.070 0.085 0.085 26 NOVAMSC 0.085 Unch 820.3 0.085 — — 58.1 0.662 0.536 0.560 0.555 35 OPCOM 0.555 -0.005 102.3 0.559 16.28 7.21 89.5 0.414 0.315 0.330 0.325 40 OPENSYS 0.330 0.005 78.8 0.326 16.26 3.03 98.3 0.380 0.125 0.135 0.130 79 ORION 0.130 -0.005 764 0.131 — — 77.9 0.250 0.045 0.250 0.215 5 PALETTE 0.235 0.015 77429.9 0.236 — — 75.1 0.230 0.135 0.165 0.155 123 PRIVA 0.155 -0.010 659.9 0.158 — — 86.5 0.175 0.055 0.155 0.140 7 PUC 0.140 Unch 99334.8 0.147 58.33 — 174.0 0.980 0.501 0.870 0.860 106 REXIT 0.860 -0.010 231.9 0.867 21.66 4.65 162.8 0.375 0.218 0.345 0.330 178 SEDANIA 0.340 0.005 2798.3 0.337 — 2.94 76.8 0.190 0.055 0.120 0.115 60 SKH 0.115 -0.005 1277.2 0.117 47.92 — 63.8 0.300 0.155 0.175 0.170 117 SMRT 0.175 0.005 23.6 0.174 — — 63.2 0.165 0.100 0.150 0.140 169 SMTRACK 0.145 Unch 113 0.144 — — 15.0 0.355 0.232 0.295 0.280 93 SOLUTN 0.295 0.020 4598.8 0.287 8.55 3.39 90.4 0.360 0.080 0.215 0.205 129 SRIDGE 0.205 -0.005 4597.1 0.210 — — 24.8 0.470 0.155 0.415 0.400 50 SYSTECH 0.400 -0.010 4109.7 0.407 53.33 0.75 139.1 0.190 0.140 0.145 0.140 132 TDEX 0.140 Unch 320 0.140 127.27 — 57.9 1.480 0.189 1.370 1.300 120 VIS 1.330 0.010 729.1 1.332 21.04 0.38 147.2 0.230 0.115 0.135 0.130 69 VIVOCOM 0.130 -0.005 9261.7 0.130 20.97 — 423.4 0.145 0.065 0.100 0.100 66 VSOLAR 0.100 Unch 1106 0.100 — — 37.4 0.070 0.020 — — 141 WINTONI 0.035 — — — — — 18.0 0.275 0.080 0.185 0.175 86 YGL 0.185 0.010 344.2 0.179 — — 43.0TRADING SERVICES 0.400 0.150 — — 122 AIM 0.270 — — — — — 71.8 0.165 0.060 0.100 0.100 48 ANCOMLB 0.100 Unch 51.5 0.100 — — 47.3 0.240 0.120 0.135 0.130 150 ASIABIO 0.135 Unch 426.8 0.134 1.10 — 60.8 0.275 0.155 0.180 0.175 187 BCMALL 0.175 Unch 937.1 0.178 38.04 — 73.7 0.404 0.300 0.325 0.315 11 BTECH 0.315 -0.010 33.2 0.316 19.44 5.08 79.4 0.320 0.170 — — 157 FOCUSP 0.200 — — — — — 33.0 1.210 0.386 1.190 1.130 185 HSSEB 1.130 -0.050 1580.1 1.157 23.74 0.56 360.6 0.900 0.540 — — 147 INNITY 0.750 — — — 71.43 — 103.8 0.310 0.220 0.225 0.225 180 KTC 0.225 Unch 50 0.225 31.69 — 114.8 0.350 0.130 0.225 0.220 167 MCLEAN 0.220 -0.015 122.6 0.221 104.76 — 39.3 0.440 0.250 0.255 0.250 81 MEGASUN 0.255 -0.015 84.4 0.254 11.49 — 55.9 0.280 0.165 0.220 0.220 153 OVERSEA 0.220 0.015 20.2 0.220 110.00 — 54.2 0.200 0.115 0.150 0.145 177 PASUKGB 0.150 Unch 348.9 0.148 — — 121.7 0.450 0.230 — — 6 PINEAPP 0.415 — — — 218.42 — 20.1 0.375 0.201 0.325 0.320 171 PLABS 0.325 Unch 387.7 0.324 18.68 2.15 69.8 0.005 0.005 — — 110 RA 0.005 — — — 2.63 — 4.8 0.615 0.280 0.430 0.410 32 REDTONE 0.430 Unch 34.3 0.417 — — 325.8 0.525 0.140 0.470 0.450 173 REV 0.455 0.010 2575 0.458 3.86 — 61.3 0.726 0.477 0.580 0.570 158 SCC 0.580 0.005 81 0.571 16.07 5.22 81.9 0.275 0.160 0.220 0.200 161 SCH 0.215 0.015 2773.9 0.211 126.47 3.95 88.6 0.230 0.100 0.185 0.170 140 STERPRO 0.180 0.010 13149.5 0.180 — — 50.3 0.230 0.103 0.215 0.210 80 STRAITS 0.210 Unch 2034.6 0.211 80.77 — 77.3 1.360 0.955 1.260 1.240 89 TEXCYCL 1.260 0.010 18 1.251 13.02 0.40 215.2 0.230 0.100 0.180 0.170 145 TFP 0.180 0.010 795 0.174 — — 36.9 0.155 0.095 0.110 0.100 165 XOX 0.110 0.005 26730.1 0.105 — — 93.7FINANCE 0.965 0.386 0.765 0.725 53 OSKVI 0.750 0.030 1312.9 0.754 2.69 2.67 148.2

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

MONDAY SEPTEMBER 11, 2017 • THEEDGE FINANCIAL DAILY 2 8

Bursa Malaysia Equity Derivatives

0.110 0.065 0.070 0.070 523810 AAX-C10 0.070 -0.005 50 0.370 0.400 27.03 26/04/2018 0.070 0.065 0.070 0.070 523812 AAX-C12 0.070 Unch 160 0.370 0.360 20.00 30/03/2018 0.310 0.160 0.205 0.200 5238WA AAX-WA 0.205 Unch 1275.5 0.370 0.460 79.73 08/06/2020 0.860 0.105 0.690 0.630 0018WA ACCSOFT-WA 0.690 Unch 8 0.730 0.100 8.22 18/01/2019 0.120 0.035 0.065 0.060 7146WA AEM-WA 0.060 -0.005 216.9 0.170 0.250 82.35 17/12/2019 0.465 0.110 0.270 0.270 5139CB AEONCR-CB 0.270 0.015 150 12.800 10.761 -2.17 16/10/2017 0.040 0.015 0.030 0.030 2488CT AFG-CT 0.030 0.015 10 3.890 4.600 20.57 22/12/2017 0.330 0.050 0.255 0.240 7315WB AHB-WB 0.245 0.010 2065.8 0.350 0.200 27.14 28/08/2019 0.330 0.070 0.265 0.235 509947 AIRASIAC47 0.250 0.020 6444.2 3.530 2.600 -5.10 31/10/2017 0.235 0.110 0.140 0.110 509952 AIRASIAC52 0.140 0.025 1547.4 3.530 3.200 2.55 31/10/2017 0.200 0.090 0.145 0.120 509953 AIRASIAC53 0.140 0.020 3213.6 3.530 3.200 2.55 02/02/2018 0.180 0.050 0.080 0.055 509954 AIRASIAC54 0.070 0.015 14542.1 3.530 3.600 7.34 31/10/2017 0.150 0.080 0.105 0.100 509955 AIRASIAC55 0.105 0.015 200 3.530 4.000 21.35 29/12/2017 0.210 0.135 0.190 0.175 509956 AIRASIAC56 0.180 0.020 1160.1 3.530 2.900 3.57 29/12/2017 0.220 0.145 0.220 0.190 509957 AIRASIAC57 0.220 0.035 23.8 3.530 3.200 9.35 08/01/2018 0.510 0.130 0.425 0.400 5014CS AIRPORT-CS 0.400 -0.020 56.4 8.990 7.350 1.78 02/02/2018 0.145 0.095 0.130 0.130 5014CV AIRPORT-CV 0.130 0.005 20 8.990 8.800 8.01 30/04/2018 0.420 0.160 0.285 0.280 7609WA AJIYA-WA 0.285 Unch 210.1 0.740 0.920 62.84 28/08/2021 0.135 0.055 0.060 0.060 1015C1 AMBANK-C1 0.060 0.005 346.3 4.290 5.000 20.75 30/04/2018 0.610 0.065 0.080 0.075 1015CX AMBANK-CX 0.075 -0.005 346 4.290 4.150 1.11 29/09/2017 0.440 0.030 0.035 0.035 1015CY AMBANK-CY 0.035 Unch 150 4.290 5.000 18.59 31/10/2017 0.315 0.140 0.275 0.260 6556CC ANNJOO-CC 0.275 0.020 380 3.740 2.800 0.60 31/10/2017 0.270 0.115 0.250 0.230 6556CD ANNJOO-CD 0.250 0.015 619.9 3.740 3.000 3.61 08/12/2017 0.215 0.110 0.215 0.200 6556CE ANNJOO-CE 0.210 0.010 1821.5 3.740 3.100 8.16 02/02/2018 0.275 0.040 0.055 0.045 9342WA ANZO-WA 0.055 0.005 255.1 0.115 0.250 165.22 19/11/2019 0.335 0.100 0.230 0.230 0119WA APPASIA-WA 0.230 Unch 30 0.340 0.130 5.88 23/12/2024 0.100 0.025 0.035 0.035 521027 ARMADA-C27 0.035 Unch 24 0.750 0.835 16.00 02/02/2018 0.100 0.060 0.085 0.080 521028 ARMADA-C28 0.085 Unch 2680 0.750 0.750 12.47 30/01/2018 0.350 0.050 0.055 0.050 0068WB ASDION-WB 0.055 Unch 97 0.150 0.500 270.00 24/03/2019 0.110 0.045 0.050 0.050 0150WA ASIABIO-WA 0.050 Unch 373.4 0.135 0.300 159.26 19/04/2024 0.145 0.055 0.085 0.080 0105WA ASIAPLY-WA 0.085 0.005 61.5 0.170 0.100 8.82 13/12/2020 0.210 0.055 0.075 0.070 6399C1 ASTRO-C1 0.075 -0.005 300 2.680 2.600 2.61 30/11/2017 0.765 0.100 0.270 0.260 7099WB ATTA-WB 0.265 0.005 179 1.020 1.000 24.02 09/05/2022 0.035 0.010 0.020 0.015 0072WA AT-WA 0.020 Unch 1876.4 0.040 0.090 175.00 28/01/2019 0.040 0.020 0.025 0.020 0072WB AT-WB 0.025 Unch 729.5 0.040 0.030 37.50 17/10/2019 0.120 0.010 0.010 0.010 688818 AXIATA-C18 0.010 Unch 50 5.090 5.150 2.26 18/09/2017 0.100 0.045 0.075 0.075 688820 AXIATA-C20 0.075 Unch 10 5.090 5.200 8.06 28/02/2018 0.730 0.210 0.610 0.565 7078WA AZRB-WA 0.585 -0.015 340.9 1.160 0.700 10.78 13/05/2024 0.280 0.180 0.260 0.235 0098WA BAHVEST-WA 0.250 0.015 1710.9 0.675 0.870 65.93 20/08/2024 0.120 0.010 0.035 0.020 5248CR BAUTO-CR 0.030 0.010 724.3 2.030 2.100 6.40 29/12/2017 0.070 0.035 0.050 0.050 5248CS BAUTO-CS 0.050 0.015 60 2.030 2.100 8.37 08/01/2018 0.170 0.100 0.105 0.100 7241WA BHS-WA 0.105 0.005 12.1 0.380 0.600 85.53 18/10/2020 0.450 0.260 0.310 0.305 5258WA BIMB-WA 0.305 -0.005 244.3 4.400 4.720 14.20 04/12/2023 0.155 0.070 0.080 0.080 6998WA BINTAI-WA 0.080 Unch 50 0.175 0.200 60.00 15/06/2020 0.230 0.095 0.165 0.155 0179WA BIOHLDG-WA 0.160 0.005 3899.9 0.255 0.220 49.02 05/01/2022 0.160 0.060 0.080 0.080 3395WB BJCORP-WB 0.080 0.005 90 0.330 1.000 227.27 22/04/2022 0.175 0.050 0.095 0.095 3395WC BJCORP-WC 0.095 Unch 300 0.330 1.000 231.82 29/05/2026 0.370 0.035 0.300 0.290 7187WA BKOON-WA 0.300 0.010 3814 0.505 0.200 -0.99 07/07/2023 0.081 0.035 0.045 0.040 7036WC BORNOIL-WC 0.045 Unch 297 0.100 0.070 15.00 08/11/2025 0.065 0.040 0.045 0.045 7036WD BORNOIL-WD 0.045 Unch 93.5 0.100 0.070 15.00 29/05/2027 0.135 0.045 0.060 0.060 7188WA BTM-WA 0.060 Unch 30 0.250 0.940 300.0 20/12/2019 0.435 0.060 0.310 0.295 181811 BURSA-C11 0.300 Unch 258.2 10.420 8.900 -0.19 30/11/2017 0.315 0.070 0.135 0.135 181812 BURSA-C12 0.135 Unch 250 10.420 10.500 6.60 30/11/2017 0.150 0.050 0.120 0.100 181813 BURSA-C13 0.120 0.005 287.7 10.420 10.500 6.53 30/03/2018 0.900 0.303 0.840 0.810 7174WA CAB-WA 0.820 -0.025 472.8 1.000 0.170 -1.00 08/02/2020 0.090 0.070 0.070 0.070 7076CF CBIP-CF 0.070 -0.005 50 1.960 2.200 19.39 26/02/2018 0.470 0.290 0.340 0.340 7076WA CBIP-WA 0.340 -0.020 31.5 1.960 2.400 39.80 06/11/2019 0.220 0.045 0.110 0.105 5195WB CENSOF-WB 0.105 Unch 293.3 0.275 0.460 105.45 07/10/2019 0.310 0.100 0.225 0.225 102321 CIMB-C21 0.225 0.015 20 6.760 6.200 3.37 31/10/2017 0.335 0.150 0.305 0.285 102322 CIMB-C22 0.285 Unch 445.1 6.760 5.700 1.18 24/11/2017 0.155 0.085 0.125 0.125 102324 CIMB-C24 0.125 Unch 50 6.760 7.000 10.95 28/12/2017 0.035 0.025 0.035 0.035 2852C7 CMSB-C7 0.035 Unch 10 4.100 5.000 26.22 30/11/2017 0.205 0.040 0.105 0.105 0102WA CONNECT-WA 0.105 0.005 122 0.210 0.100 -2.38 17/09/2021 0.205 0.035 0.100 0.100 0102WB CONNECT-WB 0.100 0.010 108 0.210 0.100 -4.76 07/06/2021 0.250 0.025 0.075 0.070 0051WA CUSCAPI-WA 0.070 -0.005 315 0.245 0.270 38.78 24/04/2018 0.470 0.295 0.355 0.345 5276WA DANCO-WA 0.355 -0.005 171 0.590 0.300 11.02 22/05/2022 0.035 0.005 0.010 0.010 7179WB DBE-WB 0.010 Unch 40 0.025 0.050 140.0 22/01/2022 0.030 0.005 0.010 0.010 0152WA DGB-WA 0.010 -0.005 80 0.050 0.110 140.0 22/04/2018 0.105 0.060 0.100 0.090 727715 DIALOG-C15 0.090 Unch 14 2.080 1.850 1.92 31/10/2017 0.240 0.105 0.225 0.210 727717 DIALOG-C17 0.220 0.010 141.3 2.080 1.900 1.92 02/02/2018 0.130 0.120 0.130 0.130 727701 DIALOG-MC01 0.130 0.010 398.4 2.080 1.950 6.25 14/12/2017 0.165 0.050 0.070 0.065 0029WB DIGISTA-WB 0.070 -0.005 60 0.150 0.260 120.00 04/04/2023 0.370 0.045 0.230 0.215 4456WD DNEX-WD 0.220 0.005 25141.3 0.475 0.500 51.58 30/07/2021 0.140 0.060 0.110 0.105 7114WA DNONCE-WA 0.105 Unch 1556.1 0.310 0.250 14.52 25/11/2020 0.145 0.055 0.065 0.060 5265WA DOLPHIN-WA 0.060 Unch 376.6 0.200 0.800 330.00 29/03/2021 0.340 0.180 0.290 0.275 7169WA DOMINAN-WA 0.290 0.010 40.1 1.310 1.300 21.37 10/09/2020 0.040 0.005 0.005 0.005 7198WA DPS-WA 0.005 Unch 8.8 0.090 0.540 505.56 03/01/2018 0.070 0.035 0.045 0.045 7198WB DPS-WB 0.045 Unch 280 0.090 0.100 61.11 15/01/2025 0.380 0.115 0.260 0.250 161930 DRBHCOMC30 0.260 0.010 795 1.620 1.100 0.00 30/11/2017 0.195 0.055 0.065 0.055 161933 DRBHCOMC33 0.065 0.010 4050.6 1.620 1.650 9.88 31/10/2017 0.255 0.110 0.120 0.110 161934 DRBHCOMC34 0.110 -0.015 20 1.620 1.500 6.17 24/11/2017 0.170 0.070 0.075 0.070 161936 DRBHCOMC36 0.075 0.005 313.6 1.620 1.900 26.54 29/12/2017 0.125 0.055 0.060 0.060 161937 DRBHCOMC37 0.060 Unch 100 1.620 1.850 21.60 30/03/2018 0.075 0.045 0.050 0.050 161939 DRBHCOMC39 0.050 0.005 84 1.620 1.880 25.31 30/03/2018 0.050 0.030 0.030 0.030 161941 DRBHCOMC41 0.030 Unch 120 1.620 2.150 38.27 30/03/2018 0.075 0.075 0.075 0.075 5216C1 DSONIC-C1 0.075 Unch 50 1.120 1.150 16.07 19/04/2018 0.135 0.025 0.045 0.040 5216CV DSONIC-CV 0.045 0.015 110 1.120 1.300 24.11 31/10/2017 0.080 0.005 0.010 0.005 5216CW DSONIC-CW 0.005 -0.015 430 1.120 1.400 26.12 31/10/2017 0.320 0.120 0.180 0.180 3417WB E&O-WB 0.180 -0.010 1.5 1.650 2.600 68.48 21/07/2019 0.065 0.020 0.045 0.040 0154WB EAH-WB 0.040 Unch 3047.6 0.085 0.120 88.24 24/02/2019 0.065 0.025 0.045 0.040 0154WC EAH-WC 0.045 0.010 2859.1 0.085 0.100 70.59 18/06/2019 0.195 0.090 0.135 0.130 3557WC ECOFIRS-WC 0.130 -0.005 104.2 0.295 0.300 45.76 10/09/2019 0.250 0.080 0.235 0.225 5253CA ECONBHD-CA 0.230 0.015 1716.9 3.110 2.500 2.57 30/11/2017 0.155 0.105 0.145 0.145 5253CE ECONBHD-CE 0.145 -0.010 42.1 3.110 2.900 11.90 30/04/2018 0.185 0.125 0.170 0.165 5253CF ECONBHD-CF 0.170 -0.010 378.8 3.110 2.950 11.25 22/03/2018 0.170 0.120 0.160 0.150 5253CG ECONBHD-CG 0.150 Unch 57 3.110 3.100 14.15 30/03/2018 0.190 0.090 0.095 0.090 8206CF ECOWLD-CF 0.095 Unch 285 1.560 1.600 11.70 02/02/2018 0.170 0.080 0.085 0.080 8206CG ECOWLD-CG 0.085 Unch 250 1.560 1.500 7.05 30/11/2017 0.175 0.070 0.075 0.070 8206CH ECOWLD-CH 0.075 Unch 300 1.560 1.600 9.78 08/12/2017 0.710 0.365 0.470 0.450 8206WA ECOWLD-WA 0.465 0.005 62.5 1.560 2.080 63.14 26/03/2022 0.120 0.045 0.065 0.050 0107WA EDUSPEC-WA 0.060 0.005 2938.7 0.135 0.180 77.78 24/12/2018 0.945 0.360 0.865 0.825 0065WA EFORCE-WA 0.865 0.035 1701.7 1.200 0.340 0.42 17/07/2019 0.670 0.360 0.370 0.365 8907WC EG-WC 0.370 -0.005 313 0.755 0.500 15.23 03/11/2020 0.030 0.005 0.015 0.010 7182WA EKA-WA 0.015 0.005 1176.4 0.080 0.200 168.75 22/01/2019 0.140 0.020 0.025 0.020 8877CA EKOVEST-CA 0.025 Unch 290.5 1.120 1.600 46.21 08/12/2017 0.090 0.045 0.050 0.050 8877CC EKOVEST-CC 0.050 Unch 251.1 1.120 1.300 27.23 28/12/2017 0.110 0.090 0.095 0.090 8877CD EKOVEST-CD 0.090 -0.005 60 1.120 1.150 18.75 22/02/2018 0.085 0.030 0.035 0.035 887701 EKOVEST-MC01 0.035 0.005 50 1.120 1.400 31.25 14/12/2017 1.350 0.315 0.705 0.695 8877WB EKOVEST-WB 0.695 -0.005 1219 1.120 0.480 4.91 25/06/2019 0.630 0.310 0.350 0.320 5056WA ENGTEX-WA 0.350 0.025 1486.8 1.190 0.830 -0.84 25/10/2017 0.060 0.010 0.010 0.010 5283CE EWINT-CE 0.010 -0.005 26 1.090 1.350 26.15 30/11/2017 0.450 0.245 0.250 0.250 5283WA EWINT-WA 0.250 -0.005 1634.8 1.090 1.450 55.96 02/04/2022 0.570 0.100 0.440 0.430 7047WB FAJAR-WB 0.440 Unch 534 0.890 0.700 28.09 24/09/2019 0.180 0.115 0.145 0.145 06501R FBMKLCI-C1R 0.145 0.010 10 1,779 1,670 -0.47 29/09/2017 0.120 0.065 0.080 0.080 06501U FBMKLCI-C1U 0.080 0.015 25 1,779 1,715 -0.50 31/10/2017 0.080 0.025 0.040 0.035 06501X FBMKLCI-C1X 0.035 0.005 390 1,779 1,765 0.54 30/11/2017 0.030 0.005 0.030 0.030 06503B FBMKLCI-C3B 0.030 Unch 135 1,779 1,800 2.31 31/01/2018 0.160 0.035 0.035 0.035 06502Z FBMKLCI-H2Z 0.035 -0.010 116 1,779 1,765 0.54 30/11/2017 0.480 0.310 0.320 0.310 06504B FBMKLCI-H4B 0.320 -0.020 13.5 1,779 1,790 4.17 30/11/2017 0.120 0.065 0.065 0.065 06504C FBMKLCI-H4C 0.065 -0.005 35 1,779 1,785 2.84 29/12/2017 0.135 0.090 0.090 0.090 06504D FBMKLCI-H4D 0.090 -0.005 348 1,779 1,800 4.67 31/01/2018 0.345 0.310 0.310 0.310 06504E FBMKLCI-H4E 0.310 -0.010 400 1,779 1,720 0.12 28/02/2018 0.540 0.490 0.490 0.490 06504F FBMKLCI-H4F 0.490 -0.015 10 1,779 1,800 6.64 28/02/2018 0.070 0.015 0.015 0.015 522225 FGV-C25 0.015 Unch 250 1.640 2.600 61.28 31/10/2017 0.135 0.005 0.010 0.005 522226 FGV-C26 0.010 0.005 1905 1.640 2.200 35.73 31/10/2017 0.085 0.005 0.010 0.005 522227 FGV-C27 0.005 Unch 6599.2 1.640 2.450 50.15 16/10/2017 0.155 0.035 0.055 0.045 522228 FGV-C28 0.050 0.010 274 1.640 2.050 32.62 02/02/2018 0.130 0.045 0.070 0.050 522229 FGV-C29 0.050 Unch 622.3 1.640 2.100 35.67 08/01/2018 0.195 0.095 0.115 0.100 522230 FGV-C30 0.105 0.010 7548.6 1.640 1.600 15.49 28/12/2017 0.145 0.085 0.115 0.095 522231 FGV-C31 0.105 0.010 4130 1.640 1.630 15.40 30/03/2018 0.150 0.095 0.115 0.105 522232 FGV-C32 0.110 0.015 750 1.640 1.650 17.38 30/01/2018 0.060 0.045 0.050 0.050 522236 FGV-C36 0.050 0.005 200 1.640 2.300 49.39 26/02/2018 0.090 0.065 0.080 0.070 522237 FGV-C37 0.070 Unch 370 1.640 1.900 25.67 30/01/2018 0.740 0.230 0.540 0.525 9261WB GADANG-WB 0.535 0.010 1489.6 0.535 1.060 198.13 29/11/2021 0.130 0.075 0.075 0.075 539836 GAMUDA-C36 0.075 -0.005 10 5.330 5.350 6.00 08/12/2017 0.120 0.110 0.120 0.115 539841 GAMUDA-C41 0.115 0.005 44 5.330 5.600 12.62 30/03/2018 1.480 1.140 1.350 1.340 5398WE GAMUDA-WE 1.340 Unch 728 5.330 4.050 1.13 06/03/2021 0.455 0.120 0.390 0.370 5226WA GBGAQRS-WA 0.385 -0.020 7716.7 1.720 1.300 -2.03 20/07/2018 0.330 0.100 0.135 0.135 0078CD GDEX-CD 0.135 -0.005 58 0.660 0.600 6.25 31/10/2017 0.075 0.055 0.060 0.060 0078CH GDEX-CH 0.060 Unch 3680 0.660 0.780 31.82 28/02/2018 0.572 0.415 0.450 0.435 0078WB GDEX-WB 0.435 -0.010 387.5 0.660 0.383 23.86 05/02/2020 0.300 0.130 0.175 0.170 471524 GENM-C24 0.170 Unch 0.2 5.860 5.500 4.01 29/12/2017

YEAR YEAR DAY DAY CODE WARRANTS CLOSE +/- VOL PARENT EXE PR’M EXPIRY HIGH LOW HIGH LOW (RM) (RM) (‘000) PRICE PRICE (%) DATE


0.180 0.100 0.120 0.120 471526 GENM-C26 0.120 0.005 50.1 5.860 5.900 9.90 02/02/2018 0.235 0.155 0.165 0.165 471527 GENM-C27 0.165 -0.005 100 5.860 6.000 12.24 22/01/2018 0.165 0.115 0.140 0.140 471528 GENM-C28 0.140 0.010 30 5.860 6.300 16.11 28/02/2018 0.180 0.070 0.110 0.100 318242 GENTINGC42 0.110 0.010 729 9.960 9.500 2.01 29/12/2017 1.950 1.240 1.780 1.730 3182WA GENTING-WA 1.780 0.030 2143.1 9.960 7.960 -2.21 18/12/2018 0.230 0.070 0.130 0.120 1147WA GOB-WA 0.130 0.005 200.8 0.395 0.800 135.44 24/12/2019 0.055 0.025 0.035 0.035 7096WA GPA-WA 0.035 Unch 300 0.105 0.100 28.57 03/06/2025 0.150 0.110 0.150 0.150 7668CA HAIO-CA 0.150 Unch 255 4.510 4.380 13.75 31/05/2018 0.130 0.095 0.105 0.105 3034CV HAPSENG-CV 0.105 0.010 20 9.050 9.000 5.25 30/04/2018 0.380 0.190 0.205 0.205 2062WC HARBOUR-WC 0.205 0.005 2.7 0.690 1.560 155.80 03/04/2021 0.400 0.130 0.280 0.280 5168CX HARTA-CX 0.280 -0.005 20 6.900 5.120 -1.45 31/10/2017 0.165 0.100 0.105 0.100 5168CZ HARTA-CZ 0.105 Unch 160 6.900 7.500 17.07 12/02/2018 0.745 0.310 0.395 0.380 4324CA HENGYUAN-CA 0.380 -0.015 906.1 7.740 6.000 16.80 22/02/2018 0.470 0.270 0.345 0.335 4324CB HENGYUAN-CB 0.335 -0.015 1168 7.740 8.800 39.66 28/02/2018 0.430 0.255 0.320 0.310 4324CD HENGYUAN-CD 0.310 -0.015 47 7.740 7.000 22.48 19/03/2018 0.410 0.170 0.205 0.195 4324CE HENGYUAN-CE 0.195 -0.010 297.7 7.740 8.800 36.37 19/03/2018 0.310 0.175 0.200 0.190 4324CF HENGYUAN-CF 0.195 -0.005 415.6 7.740 8.880 39.92 22/03/2018 1.540 0.915 1.260 1.240 5095WB HEVEA-WB 1.250 Unch 175.3 1.510 0.250 -0.66 28/02/2020 0.220 0.075 0.210 0.195 5072WB HIAPTEK-WB 0.200 Unch 8765.8 0.420 0.500 66.67 23/06/2021 0.530 0.220 0.250 0.220 5169WA HOHUP-WA 0.230 Unch 577.6 0.720 0.600 15.28 21/12/2018 0.390 0.270 0.300 0.300 5160WA HOMERIZ-WA 0.300 -0.005 40 0.940 0.920 29.79 09/07/2020 0.225 0.115 0.150 0.145 7213WB HOVID-WB 0.145 -0.005 43.5 0.315 0.180 3.17 05/06/2018 0.075 0.020 0.030 0.030 7013WB HUBLINE-WB 0.030 0.005 0.9 0.065 0.200 253.85 20/12/2020 0.045 0.015 0.030 0.025 9601WD HWGB-WD 0.025 Unch 8623.4 0.055 0.080 90.91 15/03/2021 0.055 0.015 0.030 0.025 0174WA IDMENSN-WA 0.030 0.005 4150.1 0.060 0.100 116.67 14/07/2020 0.115 0.025 0.030 0.025 5225C3 IHH-C3 0.025 -0.015 1390 5.860 6.300 8.79 29/12/2017 0.130 0.035 0.035 0.035 5225C4 IHH-C4 0.035 -0.025 50 5.860 6.000 5.38 29/09/2017 0.120 0.035 0.040 0.040 3336C4 IJM-C4 0.040 0.005 100 3.380 3.500 8.28 31/10/2017 0.280 0.070 0.205 0.205 0166C1 INARI-C1 0.205 -0.060 5 2.550 2.100 -1.57 29/09/2017 0.275 0.075 0.220 0.220 0166C2 INARI-C2 0.220 Unch 165 2.550 2.150 1.57 08/12/2017 0.165 0.100 0.150 0.120 0166C3 INARI-C3 0.150 Unch 20.1 2.550 2.600 15.49 30/01/2018 0.205 0.095 0.155 0.155 0166C6 INARI-C6 0.155 -0.010 30.3 2.550 2.400 6.27 30/04/2018 1.830 1.300 1.700 1.690 0166WB INARI-WB 1.700 Unch 697.1 2.550 0.800 -1.96 17/02/2020 0.045 0.015 0.030 0.030 0094WA INIX-WA 0.030 0.005 2715 0.075 0.100 73.33 16/11/2020 0.545 0.160 0.410 0.395 3379WB INSAS-WB 0.405 0.015 2670.6 1.020 1.000 37.75 25/02/2020 0.180 0.055 0.065 0.065 196113 IOICORP-C13 0.065 Unch 30 4.550 4.400 0.99 31/10/2017 0.070 0.020 0.045 0.035 7183WA IRETEX-WA 0.045 Unch 70.1 0.180 0.800 369.44 10/06/2019 0.070 0.025 0.055 0.050 0024WA JAG-WA 0.055 Unch 4687.6 0.140 0.100 10.71 14/08/2019 0.120 0.005 0.010 0.010 5161C2 JCY-C2 0.010 -0.005 2010 0.540 0.635 19.44 16/10/2017 0.830 0.205 0.580 0.515 7167WA JOHOTIN-WA 0.580 0.070 700.9 1.420 0.850 0.70 21/11/2017 0.150 0.030 0.035 0.035 4383CO JTIASA-CO 0.035 Unch 788 1.040 1.200 22.12 08/01/2018 0.225 0.110 0.140 0.140 0170WA KANGER-WA 0.140 -0.005 22 0.225 0.100 6.67 13/04/2020 0.105 0.020 0.025 0.025 5247C1 KAREX-C1 0.025 0.005 220 1.510 1.950 34.11 28/12/2017 0.075 0.030 0.035 0.035 5247C2 KAREX-C2 0.035 0.005 56 1.510 1.900 31.62 02/02/2018 0.115 0.070 0.105 0.090 5247C4 KAREX-C4 0.105 0.035 214.2 1.510 1.550 13.08 30/04/2018 0.095 0.070 0.070 0.070 5247C5 KAREX-C5 0.070 -0.005 90 1.510 1.550 16.56 28/02/2018 0.035 0.010 0.025 0.025 3115WC KBUNAI-WC 0.025 Unch 955 0.070 0.131 122.86 20/10/2023 0.490 0.070 0.475 0.465 7161CA KERJAYA-CA 0.470 0.015 300 3.730 2.600 1.21 29/09/2017 0.155 0.070 0.135 0.125 7161CB KERJAYA-CB 0.135 0.010 2100.6 3.730 3.350 6.10 30/11/2017 0.200 0.120 0.185 0.180 7161CD KERJAYA-CD 0.180 0.010 502.7 3.730 3.400 8.04 25/01/2018 0.215 0.155 0.195 0.180 7161CE KERJAYA-CE 0.195 0.010 260 3.730 3.600 12.20 22/02/2018 2.850 1.090 2.800 2.800 7161WA KERJAYA-WA 2.800 0.050 2 3.730 0.880 -1.34 20/12/2017 0.490 0.070 0.365 0.350 0151WA KGB-WA 0.365 Unch 145.8 0.615 0.500 40.65 12/06/2019 0.035 0.003 0.015 0.010 0036WA KGROUP-WA 0.010 0.005 5664.2 0.035 0.100 214.29 02/07/2018 0.030 0.010 0.015 0.010 0036WB KGROUP-WB 0.010 -0.005 1053.3 0.035 0.050 71.43 01/05/2020 0.880 0.600 0.640 0.640 5171WA KIMLUN-WA 0.640 -0.010 10 2.170 1.680 6.91 12/03/2024 0.065 0.005 0.005 0.005 7164WA KNM-WA 0.005 Unch 0.1 0.235 0.980 319.15 15/11/2017 0.145 0.065 0.075 0.065 7164WB KNM-WB 0.075 0.005 1.8 0.235 1.000 357.45 21/04/2020 0.160 0.070 0.075 0.075 7017WB KOMARK-WB 0.075 Unch 42 0.250 0.300 50.00 21/01/2020 1.500 0.410 1.500 1.430 5878WB KPJ-WB 1.490 0.040 122 4.230 4.010 30.02 23/01/2019 0.130 0.085 0.090 0.090 5038CH KSL-CH 0.090 0.005 100 1.260 1.300 21.03 08/01/2018 0.085 0.010 0.020 0.015 3794CC LAFMSIA-CC 0.020 0.010 240 5.950 7.000 19.33 02/02/2018 0.650 0.450 0.580 0.580 9385WA LAYHONG-WA 0.580 Unch 2 0.980 0.400 0.00 13/10/2021 0.320 0.085 0.090 0.085 8494WA LBICAP-WA 0.090 -0.010 59 1.100 1.000 -0.91 17/04/2018 0.835 0.390 0.640 0.620 5789WB LBS-WB 0.620 -0.020 489.9 1.880 1.250 -0.53 04/10/2020 0.085 0.015 0.075 0.060 5284CA LCTITAN-CA 0.065 0.010 1429 5.510 6.800 28.13 12/02/2018 0.080 0.015 0.035 0.025 5284CB LCTITAN-CB 0.030 Unch 7111 5.510 7.800 43.74 12/02/2018 0.260 0.050 0.095 0.095 5284CC LCTITAN-CC 0.095 Unch 93 5.510 7.500 41.29 30/01/2018 0.265 0.035 0.095 0.085 5284CD LCTITAN-CD 0.095 0.005 319 5.510 6.500 23.14 30/01/2018 0.465 0.100 0.340 0.325 5284CE LCTITAN-CE 0.330 0.010 10867.8 5.510 5.500 17.79 30/01/2018 0.120 0.015 0.065 0.055 5284CF LCTITAN-CF 0.060 Unch 12545.5 5.510 6.280 21.60 30/01/2018 0.095 0.020 0.060 0.050 5284CG LCTITAN-CG 0.060 0.005 5139.1 5.510 6.500 24.50 30/04/2018 0.300 0.040 0.155 0.150 8745WB LEWEKO-WB 0.155 -0.020 115 0.265 0.200 33.96 08/09/2020 0.250 0.150 0.205 0.200 7126WA LONBISC-WA 0.205 0.005 79 0.745 1.000 61.74 26/01/2020 0.095 0.020 0.070 0.065 5068WA LUSTER-WA 0.065 Unch 268.1 0.130 0.100 26.92 03/06/2022 0.095 0.020 0.070 0.070 5068WB LUSTER-WB 0.070 Unch 500 0.130 0.100 30.77 26/05/2023 0.060 0.015 0.060 0.045 0017WA M3TECH-WA 0.050 Unch 36689 0.100 0.100 50.00 21/08/2019 0.750 0.275 0.520 0.520 7617WB MAGNA-WB 0.520 0.020 6 1.360 0.900 4.41 04/09/2020 0.120 0.075 0.120 0.115 3859C2 MAGNUM-C2 0.115 Unch 90 1.880 1.800 7.98 22/01/2018 0.100 0.005 0.015 0.010 3859CY MAGNUM-CY 0.015 0.005 15.2 1.880 2.120 15.16 31/10/2017 0.265 0.070 0.075 0.070 8583WB MAHSING-WB 0.070 Unch 506.1 1.470 1.440 2.72 16/03/2018 0.160 0.065 0.140 0.110 5264C2 MALAKOF-C2 0.140 -0.005 106.7 1.080 1.050 10.19 30/04/2018 0.990 0.090 0.460 0.425 6181WB MALTON-WB 0.445 0.020 22202.3 1.130 1.000 27.88 29/06/2018 0.630 0.350 0.455 0.445 5236WA MATRIX-WA 0.445 -0.010 86.5 2.800 2.400 1.61 20/07/2020 0.015 0.005 0.010 0.010 5189WA MAXWELL-WA 0.010 Unch 2020 0.035 0.400 1,072 24/03/2020 0.230 0.115 0.130 0.130 115528 MAYBANKC28 0.130 0.010 16 9.600 9.500 3.29 31/10/2017 0.230 0.115 0.150 0.135 115529 MAYBANKC29 0.150 0.020 360 9.600 9.000 0.78 16/10/2017 0.165 0.105 0.105 0.105 115530 MAYBANKC30 0.105 -0.020 50 9.600 9.100 3.54 24/11/2017 0.190 0.095 0.120 0.100 115531 MAYBANKC31 0.120 0.025 1040 9.600 9.500 2.71 28/02/2018 0.585 0.365 0.490 0.480 5152WA MBL-WA 0.490 0.010 172.6 1.090 0.800 18.35 28/11/2022 0.105 0.065 0.075 0.070 1171C3 MBSB-C3 0.075 Unch 10073.7 1.240 1.350 20.97 28/02/2018 0.170 0.080 0.095 0.095 1171CW MBSB-CW 0.095 -0.005 5 1.240 1.150 8.06 28/11/2017 0.090 0.010 0.020 0.010 1171CY MBSB-CY 0.020 Unch 2357.8 1.240 1.250 5.65 29/09/2017 0.080 0.025 0.025 0.025 1171CZ MBSB-CZ 0.025 Unch 3913.2 1.240 1.450 21.98 30/11/2017 0.260 0.040 0.110 0.090 0167WB MCLEAN-WB 0.100 Unch 83.4 0.220 0.250 59.09 07/10/2020 0.085 0.025 0.040 0.035 5040WB MEDAINC-WB 0.040 Unch 60.1 0.430 0.800 95.35 22/04/2022 0.065 0.025 0.040 0.040 5040WC MEDAINC-WC 0.040 -0.005 85.1 0.430 0.800 95.35 24/08/2024 0.045 0.005 0.010 0.010 4502CI MEDIA-CI 0.010 Unch 40 0.700 1.150 67.14 31/10/2017 0.015 0.005 0.005 0.005 450201 MEDIA-MC01 0.005 Unch 50 0.700 1.200 72.86 14/12/2017 0.365 0.140 0.215 0.210 1694WB MENANG-WB 0.210 Unch 225 0.855 1.000 41.52 09/07/2019 0.310 0.095 0.310 0.255 0075WA MEXTER-WA 0.280 0.015 8231.8 0.440 0.130 -6.82 17/09/2018 0.145 0.070 0.100 0.080 3069CA MFCB-CA 0.100 0.025 377.5 3.690 3.950 19.24 02/02/2018 0.165 0.085 0.085 0.085 3069CB MFCB-CB 0.085 -0.005 30 3.690 4.000 18.77 22/01/2018 2.330 0.525 1.830 1.700 3069WA MFCB-WA 1.830 0.120 255.5 3.690 2.220 9.76 08/04/2020 0.070 0.020 0.070 0.055 7219WA MINETEC-WA 0.065 0.010 29376.2 0.165 0.150 30.30 27/11/2019 0.325 0.170 0.175 0.170 5576WC MINHO-WC 0.175 -0.005 420.1 0.515 0.500 31.07 02/08/2021 0.600 0.365 0.410 0.400 9571WD MITRA-WD 0.405 0.020 377.8 1.120 1.090 33.48 23/08/2020 0.100 0.005 0.005 0.005 6114CC MKH-CC 0.005 Unch 60 2.110 2.661 26.88 31/10/2017 1.085 0.505 0.550 0.505 6114WB MKH-WB 0.550 0.040 237 2.110 1.550 -0.47 29/12/2017 0.105 0.016 0.060 0.050 0085WA MLAB-WA 0.050 -0.005 2777.8 0.140 0.100 7.14 24/04/2020 0.880 0.280 0.745 0.740 7595WA MLGLOBAL-WA 0.745 -0.005 11.5 1.270 0.500 -1.97 27/10/2019 0.115 0.075 0.075 0.075 2194C6 MMCCORP-C6 0.075 -0.010 100 2.350 2.450 10.64 30/04/2018 0.070 0.020 0.025 0.025 0070WA MQTECH-WA 0.025 Unch 700.1 0.050 0.100 150.00 21/11/2021 0.060 0.010 0.010 0.010 165116 MRCB-C16 0.010 Unch 3 1.180 2.100 80.68 29/12/2017 0.065 0.040 0.050 0.050 165121 MRCB-C21 0.050 -0.005 100 1.180 1.400 25.00 30/04/2018 0.100 0.085 0.085 0.085 165123 MRCB-C23 0.085 Unch 13 1.180 1.300 24.58 19/03/2018 0.175 0.080 0.090 0.085 1651WA MRCB-WA 0.085 Unch 1438.3 1.180 2.300 102.12 14/09/2018 0.220 0.030 0.090 0.080 0092WB MTOUCHE-WB 0.085 Unch 785 0.205 0.540 204.88 16/03/2020 0.245 0.165 0.185 0.185 13813 MYEG-C13 0.185 -0.010 20 2.050 1.600 5.12 29/12/2017 0.190 0.040 0.050 0.040 13815 MYEG-C15 0.050 0.005 365.4 2.050 2.000 4.63 29/09/2017 0.255 0.070 0.100 0.095 13816 MYEG-C16 0.100 Unch 1773.6 2.050 2.000 7.32 02/02/2018 0.170 0.045 0.050 0.050 13817 MYEG-C17 0.050 Unch 1550 2.050 2.300 18.29 30/11/2017 0.110 0.040 0.045 0.045 13818 MYEG-C18 0.045 Unch 149.2 2.050 2.600 32.32 25/01/2018 0.120 0.080 0.095 0.090 13824 MYEG-C24 0.095 Unch 3140.8 2.050 2.100 14.49 28/02/2018 0.480 0.115 0.295 0.275 0138C8 MYEG-C8 0.295 -0.015 777 2.050 1.567 0.41 31/10/2017 0.605 0.220 0.605 0.565 0108WA N2N-WA 0.595 0.020 335.5 0.960 0.320 -4.69 06/04/2018 0.065 0.005 0.030 0.020 0020WB NETX-WB 0.025 Unch 19614.8 0.045 0.050 66.67 08/06/2019 0.030 0.015 0.020 0.020 0096WA NEXGRAM-WA 0.020 Unch 200 0.040 0.100 200.00 16/05/2022 0.035 0.015 0.025 0.020 0096WC NEXGRAM-WC 0.025 0.005 231 0.040 0.100 212.50 15/01/2024 0.415 0.190 0.305 0.295 0172WA OCK-WA 0.300 -0.005 1374.6 0.925 0.710 9.19 15/12/2020 0.255 0.060 0.145 0.140 7071WC OCR-WC 0.145 0.010 338.7 0.580 0.500 11.21 24/07/2021 0.185 0.130 0.140 0.135 5201CA OLDTOWN-CA 0.135 -0.005 150 2.750 2.800 16.55 02/02/2018 0.280 0.045 0.055 0.055 9008WB OMESTI-WB 0.055 Unch 100 0.460 0.500 20.65 30/05/2018 0.370 0.195 0.280 0.280 5053WC OSK-WC 0.280 -0.010 46 1.640 1.800 26.83 22/07/2020 0.500 0.180 0.500 0.450 7052CK PADINI-CK 0.480 0.015 999.1 4.560 3.200 1.75 28/02/2018 0.325 0.235 0.325 0.300 7052CL PADINI-CL 0.310 0.005 53.5 4.560 3.670 7.68 26/02/2018 0.330 0.155 0.330 0.290 7052CM PADINI-CM 0.330 0.030 1416.8 4.560 3.750 7.57 22/02/2018 0.200 0.025 0.200 0.150 0005WA PALETTE-WA 0.190 0.030 64630.7 0.235 0.040 -2.13 20/03/2018 0.300 0.080 0.210 0.205 5125WA PANTECH-WA 0.205 -0.005 349.8 0.630 0.500 11.90 21/12/2020 0.300 0.105 0.230 0.225 5125WB PANTECH-WB 0.225 -0.005 151.8 0.630 0.500 15.08 21/12/2021 0.100 0.030 0.065 0.030 129514 PBBANK-C14 0.030 Unch 28 20.600 21.000 3.11 29/09/2017 0.160 0.105 0.160 0.160 518312 PCHEM-C12 0.160 0.010 8 7.450 7.500 8.19 26/02/2018 0.210 0.150 0.210 0.200 518313 PCHEM-C13 0.210 0.010 165 7.450 7.000 3.83 31/05/2018 0.255 0.035 0.130 0.110 5183C9 PCHEM-C9 0.120 Unch 898 7.450 7.000 -0.40 29/09/2017 0.400 0.200 0.245 0.215 9997WB PENSONI-WB 0.230 -0.010 178.1 0.610 0.600 36.07 20/01/2024 0.485 0.170 0.320 0.305 8311WC PESONA-WC 0.320 Unch 77.4 0.570 0.250 0.00 27/01/2020 0.130 0.085 0.115 0.105 5681CS PETDAG-CS 0.105 Unch 489.7 24.220 24.100 3.84 30/03/2018 0.150 0.020 0.020 0.020 6033CO PETGAS-CO 0.020 Unch 630 18.180 19.800 9.90 29/12/2017

Main Market & Ace Market Warrants

MarketsG L O B A L M A R K E T S . B U R S A M A L A Y S I A E Q U I T Y D E R I V A T I V E S

MONDAY SEPTEMBER 11, 2017 • THEED G E FINANCIAL DAILY 2 9

Please refer to the Bursa Malaysia website for the prices of loan stocks, bonds and overseas structure warrants

Wall Street ahead — S&P 500 slips as Hurricane Irma nears Florida; tech falls

NEW YORK: The S&P 500 Index ended slightly lower last Friday as investors braced for potential damage from Hurricane Irma as it drove towards Florida, while a decline in big tech names like Apple and Facebook pushed the Nasdaq down more sharply. The Dow Jones Industrial Average eked out a gain, helped by a 4% rise in shares of insurer Travelers. Insurer shares rose broadly, with the Dow’s Insurance Index up 2.1%, recouping some losses after being under pressure recently as the southern US braced for another powerful storm closely on the heels of Hurricane Harvey. Irma, one of the most powerful Atlantic storms in a century, lashed Cuba and the Bahamas as it drove towards Florida, while US officials were preparing a massive response to the storm. “Investors are really in a wait-and-see mode given their concern about the impact of Hurricane Irma on Florida and wherever else it ends up going,” said Kate Warne, investment strategist at Edward Jones in St Louis. “Overall, we are seeing the market and investors sort of hunker down to see what the damage and destruction turns out to be”. The Dow rose 0.06% to 21,797.79 points; the S&P 500 lost 0.15% to 2,461.43; and the Nasdaq Composite fell 0.59% to 6,360.19. The tech sector, which has outperformed all other major groups this year, ended

down 0.9%. Shares in Apple were down 1.6%, while shares in Facebook fell 1.3%. Energy shares fell 1.1% as oil prices dropped on worries that commerce and energy demand in Florida and the south-east would be hit hard due to Irma. Shares in Home Depot and Lowe’s Cos, which have gained amid of the arrival of the storms, rose last Friday. The stocks were up 1.1% each. Major indices all posted declines for the week after two weeks of gains. Geopolitical concerns kept investors on edge as South Korea prepared for a possible further missile test by North Korea on Saturday, days after its sixth and largest nuclear test. “It’s a confl uence of concerns that have been hovering over the market, everything from North Korea ... and obviously the hurricane and the damage that will ensue,” said Quincy Krosby, chief market strategist at Prudential Financial in Newark, New Jersey. Despite those macro concerns, the benchmark S&P 500 still is within about 1% of its all-time closing high as investors point to strong corporate earnings and solid economic data as supporting stocks. Equifax was the biggest percentage loser on the S&P, falling 13.7%, after the provider of consumer credit scores said personal details of as many as 143 million US consumers were hacked. Kroger shares fell 7.5% after the biggest US supermarket owner reported a quarterly profi t drop amid an intensifying grocery price war.

Global markets — Southeast Asian stocks most end on cautious note ahead of China infl ation data

BENGALURU: Most Southeast Asian stock markets ended on a cautious note in lacklustre trade last Friday ahead of the release of China’s infl ation data on Saturday. The infl ation rate in the world’s second largest economy is expected to have picked up to 1.6% year-on-year in August from 1.4% in the previous month, which would be the fi rst uptick in four months. “After a week full of uncertainties, investors might be exercising caution before the release of China’s consumer price index data that could further impact the market,” said Fiorenzo Jesus, an analyst with RCBC Securities. Data released earlier in the day showed China’s August imports grew at a better-than-expected pace of 13.3% from a year earlier, while exports rose 5.5%, roughly in line with expectations. Last Friday, China blue-chip CSI 300 Index fell 0.1% to 3,825.99 points, while the Shanghai Composite Index (SSEC) was fl at at 3,365.24 points. For the week, both CSI 300 and SSEC shed 0.1%. Indonesian shares rose 0.4% to their highest close in a week, but fell 0.1% on the week. Consumer discretionary stocks led the gains last Friday with Astra International Tbk PT rising 2.3%, while Bank Mandiri

Tbk PT gained 1.9% to its highest close in two weeks. Thai shares rose as much as 0.9% to their highest since May 2013 before trimming gains to close slightly higher. They closed at their highest in more than four years and posted their fourth straight weekly gain. Financials led the rise with Kasikornbank PCL rising 1.5% to its highest close in more than two years, while Siam Commercial Bank PCL gained 1%. Malaysian shares closed down 0.2% with IHH Healthcare Bhd falling 2% to its lowest close since July 4. The stock index gained for a second consecutive week, adding 0.4%. Singapore shares were up marginally last Friday but fell 1.5% last week, snapping two straight weekly gain. Philippine shares closed fl at, gaining 0.81% for the week. Vietnam shares extended gains into a seventh session, and added 1.6% in their third straight weekly rise. Japan’s Nikkei Share Average dropped to four-month lows last Friday, while the broader Topix was almost fl at as investors held off buying on concerns North Korea could launch another missile on Saturday to mark its founding day. The Nikkei fell 0.6% to 19,274.82, its lowest close since April 28. The broader Topix was down 0.3% at 1,593.54. The pan-European FTSEurofi rst 300 Index rose 0.17% and MSCI’s gauge of stocks across the globe edged up 0.01%. — Reuters

Dow JonesIndex points

10,403.79

Mar 1, 2010 Sept 8, 2017

21,797.79+13.01

(+0.06%)

9600

12825

16050

19275

22500

Euro STOXX 50 IndexIndex points

2,772.70

Mar 1, 2010 Sept 8, 2017

3,447.69+0.03

(+0.00%)1960

2445

2930

3415

3900

Shanghai CompositeIndex points

3,087.842

Mar 1, 2010 Sept 8, 2017

1900

2875

3850

4825

58003,365.24

-0.25(-0.01%)

FT Straits TimesIndex points

Mar 1, 2010

2,774.06

3,228.56+0.50

(+0.02%)

Sept 8, 2017

2400

2700

3000

3300

3600

Bursa Malaysia Equity Derivatives

0.315 0.085 0.225 0.220 3042CC PETRONM-CC 0.225 -0.010 734 9.400 6.500 -2.13 29/09/2017 0.460 0.180 0.250 0.235 3042CD PETRONM-CD 0.240 -0.015 355.1 9.400 8.500 21.06 22/02/2018 0.225 0.100 0.220 0.215 8869CS PMETAL-CS 0.220 Unch 220 3.760 3.080 11.17 30/04/2018 0.400 0.220 0.395 0.380 8869CT PMETAL-CT 0.390 0.010 1560.1 3.760 2.900 8.24 30/04/2018 0.260 0.170 0.250 0.240 8869CU PMETAL-CU 0.250 0.010 80 3.760 3.000 6.38 19/03/2018 0.215 0.160 0.210 0.200 8869CV PMETAL-CV 0.210 0.005 799.5 3.760 3.300 10.11 22/03/2018 0.150 0.130 0.150 0.150 8869CX PMETAL-CX 0.150 0.005 15 3.760 3.580 19.15 31/05/2018 0.160 0.135 0.150 0.145 8869CY PMETAL-CY 0.150 -0.005 912.4 3.760 3.900 19.68 30/03/2018 0.210 0.200 0.210 0.205 8869CZ PMETAL-CZ 0.210 0.005 60 3.760 3.300 10.11 30/03/2018 3.400 2.200 3.350 3.330 8869WC PMETAL-WC 3.350 Unch 30.3 3.760 0.390 -0.53 22/08/2019 1.050 0.640 0.800 0.790 7088WB POHUAT-WB 0.790 -0.010 186.3 1.760 1.000 1.70 21/10/2020 0.185 0.100 0.145 0.140 463411 POS-C11 0.140 Unch 775.7 5.450 5.300 8.81 30/04/2018 0.370 0.140 0.210 0.210 4634C9 POS-C9 0.210 Unch 20 5.450 4.900 7.25 16/10/2017 0.710 0.225 0.600 0.595 7168WA PRG-WA 0.595 -0.005 71.5 1.010 0.375 -3.96 06/07/2019 0.710 0.420 0.435 0.420 8966WA PRLEXUS-WA 0.435 Unch 55.1 1.160 1.200 40.95 14/06/2021 0.145 0.040 0.075 0.075 7145WA PSIPTEK-WA 0.075 Unch 345 0.130 0.100 34.62 16/11/2019 0.140 0.020 0.095 0.075 0007WA PUC-WA 0.080 0.005 11690.1 0.140 0.100 28.57 25/12/2024 0.145 0.015 0.090 0.075 0007WB PUC-WB 0.075 Unch 34099.4 0.140 0.100 25.00 15/02/2019 0.550 0.205 0.205 0.205 6807WB PUNCAK-WB 0.205 Unch 0.7 0.705 1.000 70.92 20/07/2018 0.750 0.235 0.670 0.655 7134WA PWF-WA 0.665 0.015 425.8 1.180 0.620 8.90 20/07/2021 0.170 0.025 0.075 0.070 5256WA REACH-WA 0.075 0.005 2302 0.300 0.750 175.00 12/08/2022 0.090 0.050 0.060 0.055 5270WA RSENA-WA 0.055 -0.005 3321 0.455 0.500 21.98 01/12/2023 0.120 0.015 0.015 0.015 0133WB SANICHI-WB 0.015 -0.015 37.2 0.165 0.630 290.91 13/03/2018 0.120 0.025 0.040 0.035 0133WC SANICHI-WC 0.035 -0.005 360.1 0.165 0.630 303.03 24/09/2019 0.150 0.060 0.080 0.075 0133WD SANICHI-WD 0.080 0.005 700.3 0.165 0.300 130.30 21/07/2019 0.290 0.065 0.265 0.235 5157WA SAUDEE-WA 0.255 0.015 1951.4 0.460 0.500 64.13 31/03/2021 0.025 0.005 0.015 0.015 0109WB SCBUILD-WB 0.015 Unch 630 0.035 0.050 85.71 06/11/2019 0.605 0.305 0.470 0.465 7247WA SCGM-WA 0.465 Unch 34.5 2.970 3.960 48.99 31/07/2020 0.185 0.055 0.130 0.105 0161WA SCH-WA 0.125 0.015 2359.3 0.215 0.100 4.65 04/12/2021 0.190 0.055 0.150 0.125 0028WA SCOPE-WA 0.150 0.025 50.1 0.225 0.150 33.33 17/07/2020 0.785 0.160 0.460 0.405 7073WB SEACERA-WB 0.455 0.045 1096.5 0.975 1.000 49.23 29/05/2019 0.270 0.015 0.030 0.025 521838 SENERGYC38 0.025 -0.010 1034 1.550 1.650 9.68 30/11/2017 0.055 0.005 0.005 0.005 521842 SENERGYC42 0.005 -0.005 2450 1.550 2.200 43.06 31/10/2017 0.110 0.050 0.075 0.070 521846 SENERGYC46 0.075 0.005 400.4 1.550 1.700 20.81 30/01/2018 0.110 0.055 0.085 0.080 521847 SENERGYC47 0.085 0.015 500 1.550 1.700 20.65 30/01/2018 0.200 0.115 0.190 0.175 5279CA SERBADK-CA 0.185 0.005 2908.9 2.230 2.000 10.43 02/02/2018 0.145 0.090 0.135 0.135 5279CB SERBADK-CB 0.135 Unch 25 2.230 2.500 27.24 26/02/2018 0.170 0.120 0.170 0.170 5279CC SERBADK-CC 0.170 0.015 60 2.230 2.150 19.28 26/04/2018 0.120 0.090 0.120 0.110 5279CD SERBADK-CD 0.120 0.005 1246.7 2.230 2.600 32.74 30/03/2018 0.155 0.115 0.155 0.150 5279CE SERBADK-CE 0.150 0.030 80 2.230 2.200 18.83 30/03/2018 0.215 0.075 0.120 0.110 0055WA SERSOL-WA 0.120 0.010 62 0.180 0.180 66.67 18/04/2023 0.190 0.040 0.055 0.050 419714 SIME-C14 0.055 0.005 980.3 9.070 9.000 2.26 29/12/2017 0.230 0.120 0.200 0.200 7155CE SKPRES-CE 0.200 -0.005 100 1.470 1.200 2.04 25/01/2018 0.130 0.110 0.125 0.125 7155CF SKPRES-CF 0.125 Unch 50 1.470 1.400 12.24 08/01/2018 0.245 0.070 0.080 0.075 9776WB SMCAP-WB 0.080 0.005 239.8 0.620 1.000 74.19 13/07/2018 0.835 0.600 0.650 0.600 5242WA SOLID-WA 0.650 -0.030 25.5 1.110 0.500 3.60 16/12/2020 0.285 0.135 0.180 0.175 0093WA SOLUTN-WA 0.180 0.005 817.9 0.295 0.200 28.81 04/07/2021 0.160 0.115 0.155 0.150 8664C2 SPSETIA-C2 0.155 -0.005 280 3.630 3.600 9.85 30/03/2018 0.210 0.045 0.085 0.080 8664CV SPSETIA-CV 0.085 -0.010 160 3.630 3.400 3.03 31/10/2017 0.400 0.080 0.200 0.190 8664CW SPSETIA-CW 0.200 Unch 640 3.630 3.400 1.93 29/12/2017 0.200 0.020 0.050 0.050 8664CY SPSETIA-CY 0.050 Unch 25.3 3.630 3.900 10.19 08/12/2017 0.180 0.140 0.180 0.180 8664CZ SPSETIA-CZ 0.180 0.005 0.4 3.630 3.100 5.23 26/04/2018 0.140 0.035 0.070 0.065 0129WA SRIDGE-WA 0.070 Unch 257.8 0.205 0.180 21.95 24/02/2023 0.125 0.020 0.065 0.060 0140WA STERPRO-WA 0.065 0.005 114 0.180 0.480 202.78 17/02/2021 0.165 0.095 0.150 0.145 0080WA STRAITS-WA 0.150 0.005 4281.4 0.210 0.115 26.19 10/08/2022



0.065 0.015 0.030 0.025 1201WA SUMATEC-WA 0.030 0.005 1.1 0.050 0.320 600.00 03/03/2021 0.060 0.015 0.020 0.015 1201WB SUMATEC-WB 0.020 0.005 201 0.050 0.175 290.00 13/11/2018 0.125 0.085 0.115 0.115 5263CL SUNCON-CL 0.115 -0.010 30 2.300 2.300 15.00 26/04/2018 0.505 0.150 0.390 0.385 3743WA SUNSURIA-WA 0.385 0.005 66.3 1.430 1.500 31.82 22/07/2020 0.235 0.060 0.155 0.150 0148WB SUNZEN-WB 0.150 Unch 691.7 0.350 0.250 14.29 25/02/2021 0.155 0.020 0.025 0.020 710627 SUPERMX-C27 0.025 Unch 41.9 1.830 2.000 12.02 02/02/2018 0.085 0.050 0.055 0.055 710629 SUPERMX-C29 0.055 Unch 50 1.830 1.900 13.14 30/01/2018 0.220 0.125 0.135 0.125 7082WB SYF-WB 0.135 0.005 530.7 0.465 0.700 79.57 11/11/2019 0.365 0.125 0.235 0.235 1538WB SYMLIFE-WB 0.235 0.010 0.5 0.880 1.100 51.70 11/11/2020 0.330 0.160 0.175 0.170 8524WB TALIWRK-WB 0.170 -0.005 12 1.390 1.700 34.53 11/11/2018 0.130 0.050 0.060 0.055 0132WA TDEX-WA 0.060 0.005 692.7 0.140 0.110 21.43 21/09/2018 0.195 0.085 0.150 0.145 534735 TENAGA-C35 0.145 0.005 445 14.580 13.800 0.62 30/11/2017 0.150 0.130 0.140 0.140 534701 TENAGA-MC01 0.140 Unch 30 14.580 14.000 4.66 14/12/2017 0.490 0.235 0.330 0.320 7252WA TEOSENG-WA 0.320 0.010 149.9 0.905 1.350 84.53 29/01/2020 0.160 0.040 0.100 0.085 0145WA TFP-WA 0.090 0.005 500 0.180 0.100 5.56 15/02/2019 3.350 2.600 2.640 2.620 7034WA TGUAN-WA 2.620 Unch 26 4.140 1.500 -0.48 09/10/2019 0.105 0.060 0.065 0.060 7889WB THRIVEN-WB 0.065 0.005 152.3 0.270 0.640 161.11 05/10/2020 0.025 0.005 0.010 0.010 7079WB TIGER-WB 0.010 Unch 1049 0.060 0.170 200.00 23/12/2018 0.040 0.010 0.025 0.025 7079WC TIGER-WC 0.025 Unch 693.2 0.060 0.080 75.00 11/02/2021 0.115 0.110 0.115 0.110 486320 TM-C20 0.115 Unch 60 6.400 6.400 3.59 31/05/2018 0.315 0.125 0.155 0.140 0101WB TMCLIFE-WB 0.150 -0.005 1197.6 0.735 0.750 22.45 21/06/2019 0.810 0.560 0.600 0.595 8397WC TNLOGIS-WC 0.600 Unch 102.3 1.600 1.000 0.00 26/12/2018 0.485 0.109 0.410 0.400 7285WA TOMYPAK-WA 0.410 0.015 202.4 0.945 0.930 41.80 21/06/2021 0.200 0.035 0.125 0.120 711317 TOPGLOV-C17 0.125 Unch 155.9 5.580 5.200 3.27 29/12/2017 0.200 0.030 0.035 0.035 7173WA TOYOINK-WA 0.035 Unch 70 0.720 1.500 113.19 20/04/2018 0.360 0.210 0.230 0.210 5401WA TROP-WA 0.210 -0.020 30.1 0.945 1.000 28.04 06/12/2019 0.425 0.110 0.225 0.225 5042WB TSRCAP-WB 0.225 -0.020 45 0.645 0.700 43.41 28/12/2020 0.175 0.005 0.025 0.020 5230CN TUNEPRO-CN 0.025 0.005 2550.3 1.160 1.500 32.54 30/11/2017 0.150 0.035 0.045 0.040 514841 UEMS-C41 0.040 -0.010 40 1.180 1.140 3.39 31/10/2017 0.100 0.015 0.025 0.025 514845 UEMS-C45 0.025 Unch 50 1.180 1.200 7.42 31/10/2017 0.060 0.040 0.050 0.050 514846 UEMS-C46 0.050 0.010 5 1.180 1.300 15.47 30/03/2018 0.150 0.095 0.120 0.120 514847 UEMS-C47 0.120 Unch 700 1.180 1.000 5.08 30/01/2018 0.075 0.050 0.060 0.060 514851 UEMS-C51 0.060 0.005 47.6 1.180 1.200 11.86 22/02/2018 0.125 0.080 0.095 0.090 4588C2 UMW-C2 0.090 0.010 77.1 5.450 5.700 12.84 30/04/2018 0.080 0.005 0.005 0.005 524316 UMWOG-C16 0.005 -0.005 4150 0.335 0.750 126.87 31/10/2017 0.110 0.005 0.005 0.005 524317 UMWOG-C17 0.005 Unch 15 0.335 0.800 140.30 24/11/2017 0.195 0.070 0.090 0.080 7091WA UNIMECH-WA 0.090 0.015 68.7 1.030 1.500 54.37 18/09/2018 0.130 0.025 0.050 0.045 0069WB VIVOCOM-WB 0.045 Unch 5769.1 0.130 0.200 88.46 07/09/2018 0.145 0.050 0.070 0.070 0069WC VIVOCOM-WC 0.070 -0.005 685.1 0.130 0.100 30.77 22/01/2020 0.145 0.055 0.070 0.070 0069WD VIVOCOM-WD 0.070 Unch 1331.5 0.130 0.100 30.77 08/07/2020 0.055 0.020 0.040 0.035 7070WB VIZIONE-WB 0.040 Unch 921.2 0.135 0.160 48.15 20/06/2018 0.095 0.030 0.085 0.075 7070WC VIZIONE-WC 0.085 0.005 2814.8 0.135 0.100 37.04 05/02/2022 0.650 0.200 0.570 0.565 7240WA VOIR-WA 0.570 Unch 55 1.020 0.500 4.90 31/03/2024 0.345 0.155 0.345 0.345 6963CM VS-CM 0.345 0.040 6.4 2.470 1.800 0.81 30/11/2017 0.170 0.115 0.170 0.170 6963CP VS-CP 0.170 0.030 3 2.470 2.180 8.91 30/03/2018 0.150 0.105 0.150 0.150 6963CQ VS-CQ 0.150 0.010 8.3 2.470 2.280 10.53 30/03/2018 0.055 0.010 0.015 0.010 0066WA VSOLAR-WA 0.010 -0.005 10.2 0.100 0.120 30.00 01/12/2017 0.745 0.240 0.745 0.725 6963WA VS-WA 0.735 0.010 14558 2.470 1.650 -3.44 06/01/2019 0.170 0.010 0.015 0.015 9679C2 WCT-C2 0.015 0.005 393 1.770 2.300 31.64 08/12/2017 0.340 0.010 0.020 0.010 9679CZ WCT-CZ 0.010 Unch 160 1.770 2.000 13.84 31/10/2017 0.665 0.150 0.165 0.155 9679WD WCT-WD 0.155 -0.010 1867 1.770 1.710 5.37 11/12/2017 0.570 0.175 0.315 0.305 9679WE WCT-WE 0.305 -0.010 1193.8 1.770 2.080 34.75 27/08/2020 0.220 0.020 0.135 0.130 5156WC XDL-WC 0.135 0.005 30.1 0.250 0.160 18.00 02/07/2018 0.020 0.005 0.020 0.015 0095WA XINGHE-WA 0.015 -0.005 3930 0.060 0.100 91.67 22/03/2019 0.110 0.035 0.060 0.055 0165WA XOX-WA 0.055 0.005 2939.8 0.110 0.200 131.82 10/02/2019 0.185 0.050 0.070 0.060 7020WB YKGI-WB 0.065 0.005 2715.5 0.200 0.500 182.50 28/05/2020 1.100 0.645 0.940 0.930 7066WA YONGTAI-WA 0.935 0.010 92 1.440 0.500 -0.35 24/06/2020 0.100 0.020 0.030 0.025 4677C8 YTL-C8 0.030 Unch 90.1 1.390 1.500 10.07 29/12/2017 0.090 0.035 0.040 0.035 4677C9 YTL-C9 0.040 Unch 315.8 1.390 1.400 6.47 07/12/2017 0.115 0.040 0.055 0.055 6742C1 YTLPOWR-C1 0.055 Unch 316 1.410 1.400 3.19 28/02/2018 0.450 0.280 0.300 0.290 6742WB YTLPOWR-WB 0.295 -0.005 138.9 1.410 1.140 1.77 11/06/2018

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 HOLDINGS 1,100,000 DYMM SULTAN IBRAHIM JOHOR 103,500,000 5 & 6/9ASTRO MALAYSIA HOLDINGS (513,000) EMPLOYEES PROVIDENT FUND BOARD 323,937,600 5/9BUMI ARMADA 4,000,000 EMPLOYEES PROVIDENT FUND BOARD 337,294,880 29/8CAHYA MATA SARAWAK (924,100) DATO SRI MAHMUD ABU BEKIR TAIB 32,244,255 5 & 6/9CIMB GROUP HOLDINGS (582,900) KUMPULAN WANG PERSARAAN 517,370,025 28 - 30/8 (DIPERBADANKAN)CIMB GROUP HOLDINGS 10,686,900 EMPLOYEES PROVIDENT FUND BOARD 1,187,195,723 22 - 24/8DIALOG GROUP (3,144,800) EMPLOYEES PROVIDENT FUND BOARD 686,389,450 30/8DIGI.COM 1,244,300 EMPLOYEES PROVIDENT FUND BOARD 1,056,987,254 28 & 30/8DRB-HICOM 494,700 LEMBAGA TABUNG HAJI 121,881,800 5/9GAMUDA (2,000,000) EMPLOYEES PROVIDENT FUND BOARD 282,328,905 30/8GLOBETRONICS TECHNOLOGY (1,003,300) KUMPULAN WANG PERSARAAN 5/9 (DIPERBADANKAN)GUH HOLDINGS (209,700) WAN ISMAIL WAN NIK 3,490,250 5 & 6/9HARN LEN CORPORATION (5,000,000) LOW NAM HUI @ SONS S.B 30/8HARTALEGA HOLDINGS (517,000) EMPLOYEES PROVIDENT FUND BOARD 118,077,500 30/8HONG LEONG BANK 890,600 EMPLOYEES PROVIDENT FUND BOARD 269,830,921 30/8HUBLINE 14,000,000 PAU CHIONG CHING 104,296,173 5/9IGB REAL ESTATE (2,836,400) KUMPULAN WANG PERSARAAN 214,732,000 5 & 6/9INVESTMENT TRUST (DIPERBADANKAN) IJM CORPORATION 290,000 LEMBAGA TABUNG HAJI 214,854,500 5/9INARI AMERTRON 1,193,500 KUMPULAN WANG PERSARAAN 161,787,050 5 & 6/9 (DIPERBADANKAN) IOI CORPORATION 996,100 EMPLOYEES PROVIDENT FUND BOARD 584,598,073 30/8IOI PROPERTIES GROUP 2,039,308 EMPLOYEES PROVIDENT FUND BOARD 276,150,543 30/8KENANGA INVESTMENT BANK (204,000) DEUTSCHE BANK AG, GERMANY 54,613,101 5/9KUALA LUMPUR KEPONG (480,700) EMPLOYEES PROVIDENT FUND BOARD 165,287,988 30/8LAFARGE MALAYSIA (500,000) EMPLOYEES PROVIDENT FUND BOARD 71,078,589 30/8LAND & GENERAL 1,000,000 MAYLAND PARKVIEW 994,476,900 30/8 & 5/9LUSTER INDUSTRIES 3,000,000 PUAH CHENG PENG 96,864,500 5/9MADIA PRIME 195,900 MORGAN STANLEY & CO. LLC. US 84,225,200 5/9MAGNI-TECH INDUSTRIES (750,000) PERBADANAN NASIONAL 8,731,500 6/9MAH SING GROUP 444,300 EMPLOYEES PROVIDENT FUND BOARD 212,359,661 5/9MALAYAN BANKING 2,573,769 EMPLOYEES PROVIDENT FUND BOARD 1,269,483,761 30/8MALAYSIA AIRPORTS HOLDINGS (163,125) EMPLOYEES PROVIDENT FUND BOARD 170,488,292 29 & 30/8MAXIS 2,226,100 EMPLOYEES PROVIDENT FUND BOARD 824,090,627 29 & 30/8MITRAJAYA HOLDINGS (2,633,300) EMPLOYEES PROVIDENT FUND BOARD 38,302,200 29 & 30/8POS MALAYSIA (171,400) EMPLOYEES PROVIDENT FUND BOARD 58,016,936 30/8PPB GROUP (198,600) EMPLOYEES PROVIDENT FUND BOARD 113,778,625 30/8PUBLIC BANK (1,545,200) EMPLOYEES PROVIDENT FUND BOARD 510,531,800 30/8SKP RESOURCES (397,800) EMPLOYEES PROVIDENT FUND BOARD 72,351,300 30/8TELEKOM MALAYSIA 958,100 EMPLOYEES PROVIDENT FUND BOARD 666,863,474 30/8TENAGA NASIONAL (2,700,000) KUMPULAN WANG PERSARAAN 308,992,925 5 & 6/9 (DIPERBADANKAN)TIONG NAM LOGISTICS HOLDINGS 160,700 EMPLOYEES PROVIDENT FUND BOARD 22,440,200 29/8TOP GLOVE CORPORATION (801,700) EMPLOYEES PROVIDENT FUND BOARD 97,700,046 28 & 30/8TRC SYNERGY (2,065,300) LEMBAGA TABUNG HAJI 41,076,952 5/9YINSON HOLDINGS 193,800 EMPLOYEES PROVIDENT FUND BOARD 121,480,600 30/8YINSON HOLDINGS (219,700) KUMPULAN WANG PERSARAAN 83,144,900 5/9 (DIPERBADANKAN)

COMPANY SHARES ACQUIRED DIRECTOR/SUBSTANTIAL SHARES HELD TRANSACTION (DISPOSED) SHAREHOLDER AFTER CHANGE DATE

Insider moves (Filings on Sept 7, 2017)Insider Moves show what substantial shareholders are doing with their stakes, which could be a signal of their views on the company’s outlook.

Note: Run your fi nger down the left-hand side until you reach the country of origin you plan to exchange. Then move your fi nger until that line intersects with the vertical column of the currency you wish to buy. The fi gure is how much you will get. The above rates are subject to change and provided by Thompson Reuters.

Foreign exchange rates NZ EURO US SWISS BRIT CANADA BRUNEI S’PORE AUST M’SIA CHINA BANGL’H DENM’K UAE INA INDIA JAPAN NORWAY PHIL QATAR SAUDI SWEDEN THAI HK

NZ $ 0.604 0.727 0.686 0.551 0.883 0.975 0.975 0.902 3.0500 4.707 59.176 4.493 2.669 9,593 46.350 78.362 5.623 36.968 2.646 2.725 5.762 24.061 5.677

EURO 1.656 1.204 1.137 0.912 1.463 1.615 1.615 1.493 5.0519 7.797 98.017 7.442 4.421 15,889 76.772 129.795 9.314 61.232 4.383 4.514 9.544 39.854 9.404

US $ 1.376 0.831 0.944 0.758 1.215 1.342 1.342 1.241 4.1970 6.477 81.430 6.182 3.673 13,200 63.780 107.831 7.738 50.870 3.642 3.750 7.929 33.110 7.813

SWISS FR 1.457 0.880 1.059 0.802 1.287 1.421 1.421 1.314 4.4446 6.859 86.234 6.547 3.889 13,979 67.543 114.192 8.194 53.871 3.856 3.971 8.397 35.063 8.274

STERLING £ 1.816 1.097 1.320 1.246 1.604 1.771 1.771 1.638 5.5400 8.550 107.487 8.160 4.848 17,424 84.189 142.336 10.214 67.148 4.807 4.950 10.467 43.705 10.313

CANADA $ 1.132 0.684 0.823 0.777 0.623 1.104 1.104 1.021 3.4532 5.329 66.999 5.087 3.022 10,861 52.477 88.721 6.367 41.855 2.996 3.085 6.524 27.242 6.428

BRUNEI $ 1.026 0.619 0.745 0.704 0.565 0.906 1.000 0.925 3.1281 4.828 60.691 4.608 2.737 9,838 47.537 80.368 5.767 37.915 2.714 2.795 5.910 24.678 5.823

SINGAPORE $ 1.025 0.619 0.745 0.704 0.565 0.906 1.000 0.925 3.1277 4.827 60.684 4.607 2.737 9,837 47.531 80.358 5.766 37.910 2.714 2.795 5.909 24.674 5.822

AUSTRALIA $ 1.109 0.670 0.806 0.761 0.611 0.980 1.081 1.082 3.3828 5.221 65.633 4.983 2.960 10,639 51.407 86.912 6.237 41.002 2.935 3.023 6.391 26.687 6.297

MALAYSIA RM 0.328 0.198 0.238 0.225 0.181 0.290 0.320 0.320 0.296 1.0000 1.543 19.402 1.473 0.875 3,145 15.197 25.692 1.844 12.121 0.868 0.893 1.889 7.889 1.861

100 CHINESE RMB 21.245 12.826 15.439 14.579 11.696 18.764 20.714 20.717 19.155 64.7960 1,257 95.445 56.703 203,793 984.682 1,665 119.462 785.368 56.220 57.895 122.418 511.175 120.616

100 BANGLAD’H TAKA 1.690 1.020 1.228 1.160 0.930 1.493 1.648 1.648 1.524 5.1541 7.954 7.592 4.510 16,210 78.325 132.421 9.502 62.471 4.472 4.605 9.738 40.661 9.594

100 DANISH KRONER 22.258 13.438 16.175 15.274 12.254 19.659 21.703 21.705 20.069 67.8880 104.77 1,317 59.409 213,518 1,031.67 1,744 125.16 822.84 58.90 60.66 128.26 535.57 126.37

100 UAE DIRHAM 37.466 22.620 27.227 25.710 20.627 33.092 36.531 36.536 33.780 114.2725 176.36 2,217 168.33 359,404 1,737 2,936 210.68 1,385 99.15 102.10 215.89 901.49 212.72

1000 INA RUPIAH 0.010 0.006 0.008 0.007 0.006 0.009 0.010 0.010 0.009 0.0318 0.049 0.617 0.047 0.028 0.483 0.817 0.059 0.385 0.028 0.028 0.060 0.251 0.059

100 INDIA RUPEE 2.158 1.303 1.568 1.481 1.188 1.906 2.104 2.104 1.945 6.5804 10.156 127.673 9.693 5.759 20,696 169.066 12.132 79.759 5.709 5.880 12.432 51.913 12.249

100 JAPAN YEN 1.276 0.770 0.927 0.876 0.703 1.127 1.244 1.244 1.151 3.8922 6.007 75.516 5.733 3.406 12,242 59.148 7.176 47.176 3.377 3.478 7.353 30.706 7.245

100 NORWEGIAN KRONER 17.784 10.737 12.924 12.204 9.791 15.707 17.340 17.342 16.034 54.2400 83.709 1,052 79.896 47.465 170,593 824.266 1,394 657.423 47.061 48.463 102.475 427.899 100.966

100 PHILIPPINE PESO 2.705 1.633 1.966 1.856 1.489 2.389 2.638 2.638 2.439 8.2504 12.733 160.074 12.153 7.220 25,949 125.378 211.973 15.211 7.158 7.372 15.587 65.087 15.358

100 QATAR RIYAL 37.788 22.814 27.461 25.931 20.804 33.376 36.845 36.850 34.071 115.2547 177.873 2,236 169.772 100.860 362,493 1,751 2,961 212.490 1,397 102.980 217.749 909.243 214.544

100 SAUDI RIYAL 36.695 22.154 26.667 25.181 20.202 32.411 35.779 35.783 33.085 111.9200 172.727 2,171 164.860 97.941 352,005 1,701 2,875 206.342 1,357 97.107 211.449 882.935 208.336

100 SWEDISH KRONOR 17.354 10.477 12.611 11.909 9.554 15.328 16.921 16.923 15.647 52.9300 81.687 1,026.948 77.967 46.319 166,473 804.358 1,360 97.585 641.545 45.924 47.293 417.564 98.528

100 THAI BAHT 4.156 2.509 3.020 2.852 2.288 3.671 4.052 4.053 3.747 12.6759 19.563 245.938 18.672 11.093 39,868 192.631 325.674 23.370 153.640 10.998 11.326 23.948 23.596

100 HK$ 17.613 10.634 12.800 12.087 9.697 15.557 17.174 17.176 15.881 53.7209 82.908 1,042.293 79.132 47.011 168,960 816.377 1,380 99.043 651.131 46.611 47.999 101.494 423.803

STOCK HIGH LOW CLOSE VOLUME (RM) (RM) (RM) ('000)

G3-OR 0.940 0.700 0.875 1420.4KAWAN 3.450 3.360 3.450 11.2OWG 1.160 1.140 1.150 404.2FBMKLCI-H4D 0.090 0.090 0.090 348DSONIC-C1 0.075 0.075 0.075 50ECOWLD-CF 0.095 0.090 0.095 285FBMKLCI-H4C 0.065 0.065 0.065 35FBMKLCI-H4B 0.320 0.310 0.320 13.5PUNCAK 0.735 0.700 0.705 2307.6MEDIAC 0.485 0.475 0.485 188.3IHH-C3 0.030 0.025 0.025 1390IHH-C4 0.035 0.035 0.035 50FBMKLCI-H2Z 0.035 0.035 0.035 116CANONE 3.170 3.130 3.160 268.1DRBHCOMC34 0.120 0.110 0.110 20SMISCOR 0.530 0.530 0.530 10.1MYEG-C15 0.050 0.040 0.050 365.4MBSB-CY 0.020 0.010 0.020 2357.8PRLEXUS-WA 0.435 0.420 0.435 55.1HARBOUR 0.720 0.660 0.690 4.8PRKCORP 1.490 1.450 1.460 123.5MSM 3.800 3.770 3.800 22.2SOLID-WA 0.650 0.600 0.650 25.5DSONIC-CW 0.010 0.005 0.005 430SHH 1.400 1.380 1.400 4.9

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)

M3TECH 0.110 0.100 0.100 32768.3MASTEEL 1.410 1.290 1.370 15900.2SSTEEL 2.320 2.180 2.300 2174.9QL 3.940 3.770 3.940 745.9UCHITEC 2.460 2.370 2.420 1620.3PWF 1.190 1.170 1.180 1053.2G3-OR 0.940 0.700 0.875 1420.4MINETEC 0.170 0.160 0.165 33896GTRONIC 6.560 6.500 6.550 555.8KPJ-WB 1.500 1.430 1.490 122SUNWAY 4.520 4.420 4.450 3898.1ANNJOO-PA 2.420 2.330 2.410 206.7VS-WA 0.745 0.725 0.735 14558ANNJOO 3.750 3.650 3.740 2058.1DSONIC-C1 0.075 0.075 0.075 50SSTEEL-LB 2.160 2.050 2.160 164.5ROHAS 1.410 1.360 1.390 2093.9N2N 0.990 0.955 0.960 12886.9SPSETIA-CZ 0.180 0.180 0.180 0.4AIRASIAC57 0.220 0.190 0.220 23.8SERBADK 2.250 2.170 2.230 5438.4SERBADK-CD 0.120 0.110 0.120 1246.7MEXTER-WA 0.310 0.255 0.280 8231.8MIECO 1.220 1.170 1.200 5593.4N2N-WA 0.605 0.565 0.595 335.5

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

Participation in the US labour market

• Opening ceremony of Malaysia Busi-ness Events Week 2017 by Tourism and Culture Minister Datuk Seri Mohamed Nazri at One World Hotel, First Avenue, Bandar Utama City Centre, Petaling Jaya at 7.30am.

• Th e Selangor-Asean Business Conference, the second component of the ongoing Selangor International Business Summit 2017 at Setia City Convention Centre, Ballroom, Jalan Setia Dagang AG U13/AG, Setia Alam Seksyen, Shah Alam at 9am.

• Prize-giving ceremony for Perodua ser-vice and win contest at Bangunan Per-odua Sentral, 4th Floor, Lot 11 and 12, Jalan 19/1, Seksyen 19, Petaling Jaya from 9.45am to 12.30pm.

• Affi n Bank Group prize-giving ceremony for “OMG Returns! Bigger Th an Ever” cam-

paign at Menara Affi n, Jalan Raja Chulan, Kuala Lumpur from 10am to 1pm.

• Hong Leong Islamic Bank Bhd (HLISB) and Unit Peneraju Agenda Bumiputra (Teraju) entering into a cooperation agree-ment where HLISB is to be one of Teraju’s panel banks under its High Performing Bumiputera Companies (TERAS) pro-gramme. The exchange of documents will be held at Royale Chulan Daman-sara, Royale Ballroom, Petaling Jaya from 2.45pm to 5.30pm.

• Malaysian Institute of Accountants’s 50th Anniversary Commemorative Lecture on Trust by Tan Sri Ranjit Ajit Singh, sharing his personal experience, thoughts and ideas on the topic Trust. Event will be held at Securities Commission Malaysia, Persiaran Bukit Kiara, Bukit Damansara, Kuala Lumpur from 6.30pm to 9.30pm.

Tracking participations since the end of the recession.

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

SEP/OCT 0.5 -0.5 0.0

INDEX AND FUTURES OPEN CHANGE INCONTRACT LAST CHANGE VOLUME INTEREST OPEN INTEREST

Money market

Commodities

SEP/OCT -5SEP/NOV -6SEP/DEC -3OCT/NOV -1

CPO FUTURES INDICATIVE ROLL-OVER

CPO/SOYOIL FUTURES BASIS (USD)CURRENT -74.293 MONTHS AVERAGE -96.516 MONTHS AVERAGE -90.50

OPEN CHANGE INCONTRACT LAST CHANGE VOLUME INTEREST OPEN INTEREST

SEP-17 2,760 -8 262 1,369 -718OCT-17 2,765 -10 936 12,372 -1,838NOV-17 2,766 -16 28,788 71,200 60DEC-17 2,763 -24 10,089 30,863 -1,048JAN-18 2,773 -17 9,945 33,574 -1,654

Palm oil prices drop on profi t booking

CPO prices react to various factors including soyoil prices, weather conditions and stockpiles. Open interest shows either increasing or decreasing market participation.

US oil slides 3% as Irma threatens demand

METAL & PRECIOUS METALSTIN US$/TON KLTM 20,830 30COPPER USC/IBS CMX 3.0360 -0.1025GOLD US$/TROY OZ CMX 1,347.30 0.80PLATINUM US$/TROY OZ NYMEX 1,013.80 -4.50PALLADIUM US$/TROY OZ NYMEX 931.25 -17.60SILVER USC/TROY OZ CMX 18.05 0.01ALUMINIUM RMB/TON SHF 15,840 -260ZINC RMB/TON SHF 24,335 -565

ENERGYLIGHT CRUDE OIL US$/BBL NYMEX 47.48 -1.61HEATING OIL USC/GAL NYMEX 1.7512 -0.0177NATURAL GAS US$/MMBTU NYMEX 2.965 -0.088BRENT CRUDE US$/BBL ICE 53.78 -0.71GAS OIL US$/TON ICE 527.50 1.50

CRUDE PALM OIL RM/TON MDEX 2,766 -16RUBBER SEN/KG MRB 686.50 -18.00CORN USC/BSH CBOT 344.25 2.50SOYBEANS USC/BSH CBOT 956.50 -6.75WHEAT USC/BSH CBOT 413.75 0.25LIVE CATTLE USC/IBS CME 112.850 1.725COCOA US$/TON NYBOT 1,940 34COFFEE USC/IBS NYBOT 130.65 1.50SUGAR USC/IBS NYBOT 14.60 -0.04COTTON USC/IBS NYC 73.40 0.48

AGRICULTURE UNIT EXCHANGE LAST PRICE CHANGE

Rubber - M’sia SMR 20

Sen/Kg

Jan 7, 2007 Sept 8, 2017

200

625

1050

1475

1900

686.50(-18.00)

SGS & ITS EXPORT ESTIMATES (TONNES)SHIPMENT DAYS

1 - 10TH DAYS1 - 15TH DAYS1 - 20TH DAYS1 - 25TH DAYSFULL MONTH

JUN’17 JUL’17 AUG’17

367/367 381/360 363/355 524/509 616/599 537/512 710/721 818/797 693/679 996/986 1,044/1,017 956/934 1,210/1,190 1,260/1,239 1,259/1,243

MALAYSIAN PALM OIL BOARD

PRODUCTIONEXPORT STOCKS

FKLI

Index points Open Interest

Jan 4, 2010

2000

24000

46000

68000

90000

1200

1395

1590

1785

1980

Sept 8, 2017

1,771.50(-0.50)

Klibor

Implied interest rate (%)

Oct 1, 2000

3.50(Unch)

Sept 8, 2017

1.5

2.5

3.5

4.5

Centrifuged Latex

Sen/Kg

Jan 7, 2007

590.00(+6.00)

Sept 8, 2017

300

500

700

900

1100

CPO futures

FBM KLCI futures

SEP7 96.53 — — —OCT7 96.51 — — —NOV7 96.50 — — —DEC7 96.48 — — —MAR8 96.48 — — —JUN8 96.48 — — —SEP8 96.48 — — —DEC8 96.48 — — —MAR9 96.48 — — —JUN9 96.48 — — —SEP9 96.48 — — —DEC9 96.48 — — —MAR0 96.48 — — —JUN0 96.48 — — —SEP0 96.48 — — —DEC0 96.48 — — —MAR1 96.48 — — —JUN1 96.48 — — —SEP1 96.48 — — —DEC1 96.48 — — —MAR2 96.48 — — —JUN2 96.48 — — —TOTAL 0 0

MONTH SETTLEMENT CHANGE VOLUME OPEN PRICE INTEREST

Klibor

Malaysian palm oil futures fell last Friday as traders took profi ts from an intraday high that almost touched the 6½-month high hit in the previous session. A strengthening ringgit and softer soyoil have also dragged on the tropical oil. The benchmark palm oil contract for November delivery on Bursa Malaysia Derivatives slid 0.7% to RM2,766. Prices ended up 2.1% for the week thanks to the high reached last Th ursday when the futures contract rose to RM2,782 a tonne on hopes of the European Union taking action on anti-dumping duties. But a futures trader based in Kuala Lumpur said market talk of improved exports for the Sept 1 to Sept 10 period failed to push palm oil prices beyond the high achieved last Th ursday. “Market rumour on exports being higher supported a bounce [in second-half trading] but a failure to test last Thursday’s high encouraged profi t taking,” the trader said, adding that softer soybean oil also added pressure to palm oil. Th e Malaysian Palm Oil Board is due to release August production and export data today. Th e Chicago Board of Trade soybean oil contract fell 0.2%. Another trader said the ringgit’s rally, gaining strength for the past four days, continued to weigh on palm oil. — Reuters

APR’17 MAY’17 JUN’17 JUL’17

1,548 1,655 1,514 1,827 1,283 1,506 1,379 1,398 1,600 1,558 1,527 1,784

MPOB FFB REF PRICE (MILL GATE PRICE)

NORTH 20.00% 616 19.00% 589 18.00% 563SOUTH 20.00% 621 19.00% 594 18.00% 567CENTRAL 20.00% 615 19.00% 588 18.00% 561EAST COAST 20.00% 615 19.00% 589 18.00% 562SABAH 22.00% 598 21.00% 573 20.00% 549SARAWAK 22.00% 605 21.00% 580 20.00% 555

REGION GRADE A GRADE B GRADE C OER (RM/TON) OER (RM/TON) OER (RM/TON)

(IN RM/TON) AUG’17 SEP’17 OCT’17

CPO DELD 2,754.50 NO TRADE NO TRADEPK EX-MILL 2,650.00 NO TRADE NO TRADECPKO DELD 5,502.50 5,373.50 5,373.50RBD P.OIL FOB NO TRADE NO TRADE NO TRADERBD P.OLEIN FOB NO TRADE NO TRADE NO TRADERBD P. STEARIN FOB NO TRADE NO TRADE NO TRADE

MPOB Palm oil physical

US crude prices tumbled down more than 3% last Friday worries that energy demand would be hit hard as Hurricane Irma, one of the most powerful storms in a century, headed towards Florida and the south-east. Irma, the second major hurricane to approach the US in two weeks was forecast to slam southern Florida yesterday. It has already killed 14 and destroyed islands in the Caribbean, with Hurricane Jose heading for the Caribbean Leeward islands, close on the heels of Irma. US crude settled down US$1.61 or 3.3% at US$47.48 a barrel. Brent crude was down 71 US cents or 1.3% to US$53.78 a barrel after reaching its highest level since April at US$54.87. Brent ended the week up 1.9%, while US crude was up 0.4%, paring most of its earlier weekly gains on worries on the continued impact of hurricanes on demand and supply. — Reuters

Commodities

likely consolidate sideways at between 1,760 points and 1,780. — Bernama

CPO & Open Interest

CPO RM/tonne Open Interest

Jan 6, 2008 Sept 8, 2017

10000

57500

105000

152500

200000

1200

1950

2700

3450

4200

(-16)2,766

CPO vs Soyoil

CPO RM/tonne Soyoil US$/Ibs

Jan 6, 2008 Sept 8, 2017

0.3491(RM3,226/tonne)

2,766(-16)

0.000

0.175

0.350

0.525

1100

2425

3750

5075

6400 0.700

Th e US dollar hit a more than 2½-year low against a basket of major rivals last Friday on reduced expectations for another US Federal Reserve (Fed) rate increase this year, while the euro hit multi-year highs in the wake of a European Central Bank (ECB) meeting. New York Fed President William Dudley, while saying in a speech last Th ursday that the central bank should continue gradually raising US interest rates, sounded slightly less confi dent than in his previous hawkish comments. Th e tone reduced demand for the US dollar and helped knock the greenback to a roughly 10-month low against the yen to ¥107.33. Concerns over the impending short-term impact of Hurricane Irma on the US economy also weighed on the US dollar, analysts said. — Reuters

US dollar extends drop on outlook for Fed, ECB policy

Th e FBM KLCI futures contracts on Bursa Malaysia Derivatives closed lower last Friday in tandem with the weaker performance of the underlying cash market. September 2017 and December 2017 slid 0.5-point each to 1,771.5 and 1,768.5 respectively; March 2018 fell two points to 1,767, while October 2017 was traded unchanged at 1,771.5. Turnover fell to 3,418 lots from 4,352 lots last Th ursday, while open interest narrowed to 28,398 contracts from 30,292 contracts. Th e underlying benchmark FBM KLCI fi nished 3.08 points lower at 1,779.9. Th e FBM KLCI futures contract is expected to trade sideways this week, tracking the performance of the underlying cash market, a dealer said. The dealer said the FBM KLCI would

FBM KLCI futures contracts close lower

Crude Oil

US$/bbl

Apr 10, 2007 Sept 8, 2017

47.48(-1.61)

20.00

53.75

87.50

121.25

155.00

Gold

US$/troy oz

Aug 31, 2008 Sept 8, 2017

700

1020

1340

1660

1980

1,347.30(+0.80)

Long Rolls - KLCI futures

Index points

Jan 4, 2010

0.00(Unch)

Sept 8, 2017

-35.00

-21.75

-8.50

4.75

18.00

US Dollar

USD Index

Oct 2, 2006

71.0

79.5

88.0

96.5

105.0 91.352(-0.311)

Sept 8, 2017

FBMKLCI 1,779.90 -3.08 133.1M SEP 17 1,771.50 -0.50 3,232 27,630 -339OCT 17 1,771.50 UNCH 156 420 78DEC 17 1,768.50 -0.50 21 279 8MAR 18 1,767.00 -2.00 9 69 -4TOTAL 3,418 28,398 -257

SEP 17 21 3.26 7.22 -3.96OCT 17 53 8.23 9.60 -1.37ROLL’S FAIR 2.59


Markets Y O U R D A I L Y F I N A N C I A L M A R K E T S R O U N D U P

F U T U R E S . M O N E Y M A R K E T . C O M M O D I T I E S PA G E 3 1

I N S I D E R M O V E S . T R A D I N G T H E M E S . E V E N T S . F O R E X PA G E 3 0

G L O BA L M A R K E T S . B U R SA M A L AY S I A E Q U I T Y D E R I VAT I V E S PA G E 2 9

M A I N M A R K E T . A C E M A R K E T L I ST I N G PA G E 2 5RESEARCH: TAI TS [[email protected]; SUGUMARAN [[email protected]]

CONTRACT SETTLEMENT CHANGE HIGH LOW

KUALA LUMPUR: Th e FBM KLCI saw a modest pullback last Friday on profi t-taking, erasing gains accumulated over the past two trading days. Th e benchmark index closed the day 3.08 points or 0.17% lower at 1,779.9. It opened at 1,781.07 points and moved between 1,775.06 and 1,782.81. Malacca Securities head of research Victor Wan said the index’s retreat was a “healthy pullback”, as gains in the market, which largely refl ected the positive economic outlook, were overdone. “Th ere are very few catalysts at this point, as the market has gone up by about 8% year-to-date. The gains were overdone so it is expected that the market pulls back today (last Friday),” Wan told theedgemarkets.com. On the broader market, however, gainers outpaced decliners by 473 to 384, while 404 counters were unchanged. Trading volume rose to 2.97 billion shares worth RM2.27 billion, from 2.63 billion shares valued at RM2.41 billion last Th ursday. Red chip company Sino Hua-An International Bhd was the most active counter with 313.39 million shares exchanged. It closed at 23.5 sen, up 5.5 sen or 30.56%. Elsewhere in the region, indices were mostly in the red in tandem with geopolitical risks and natural disasters which spooked investors in the US. Th is, however, excluded Hong Kong’s Hang Seng, which rose 145.55 points or 0.53% to 27,668.4, supported by the strengthening of the Hong Kong dollar. — by Tan Xue Ying

FBM KLCI closes lower on profi t-taking

KLCI CHANGE CLOSE VOLUME POINTS (RM) (RM) ('000)MAYBANK 1.92 0.110 9.600 17531.0PETRONAS CHEMICAL 0.66 0.050 7.450 5539.3HONG LEONG BANK 0.57 0.160 15.640 473.4SIME DARBY 0.45 0.040 9.070 5135.5WESTPORTS HOLDINGS 0.28 0.050 3.870 623.5MAXIS 0.26 0.020 5.790 1564.8K.LUMPUR KEPONG 0.21 0.120 24.740 4179.2BRITISH AMERICAN TOBACCO -0.20 -0.420 44.180 134.8IJM CORPORATION -0.30 -0.050 3.380 3235.4RHB BANK -0.33 -0.050 5.000 637.2PETRONAS DAGANG -0.43 -0.260 24.220 110.5HAP SENG CONSOLIDATED -0.45 -0.110 9.050 125.2YTL CORPORATION -0.54 -0.030 1.390 20290.3GENTING MALAYSIA -0.88 -0.090 5.860 7097.5IHH HEALTHCARE -1.63 -0.120 5.860 4700.7CIMB GROUP -2.24 -0.150 6.760 6674.1SUB-TOTAL -2.65 OTHERS -0.43 GRAND TOTAL -3.08

1,775.00 1,771.00 1,774.00 1,771.50 1,772.00 1,768.00

Market movers

DOW JONES 21,797.79 13.01S&P 500 2,461.43 -3.67NASDAQ 100 5,913.37 -50.94FTSE 100 7,377.60 -19.38AUSTRALIA 5,672.62 -17.27CHINA 3,365.24 -0.25HONG KONG 27,668.47 145.55INDIA 31,687.52 24.78

INDONESIA 5,857.12 24.81JAPAN 19,274.82 -121.70KOREA 2,343.72 -2.47PHILIPPINES 8,022.75 -0.23SINGAPORE 3,228.56 0.50TAIWAN 10,609.95 71.44THAILAND 1,635.61 2.95VIETNAM 801.20 4.48

CLOSE CHANGE CLOSE CHANGE

World equity indices

TURNOVER CHANGE CHANGE PRICE PE DIVIDEND (‘000) (RM) (%) (RM) RATIO YIELD (%)

Daily top 20 active stocks

DLADY 59.100 0.480LAFMSIA 5.950 0.280MFCB 3.690 0.260PANAMY 38.500 0.240SCIENTX 9.270 0.220HEIM 19.500 0.200QL 3.940 0.190HUMEIND 2.390 0.180AEONCR 12.800 0.180LCTITAN 5.510 0.160HLBANK 15.640 0.160AIRASIA 3.530 0.130

UTDPLT 27.700 -0.460BAT 44.180 -0.420NESTLE 84.420 -0.340PETDAG 24.220 -0.260AJI 19.160 -0.200CIMB 6.760 -0.150SBAGAN 3.090 -0.150HENGYUAN 7.740 -0.150UMW 5.450 -0.140IQGROUP 3.630 -0.130PENTA 4.710 -0.130SP500-HA 0.515 -0.120

UP CHANGE CLOSE (RM)

DOWN CHANGE CLOSE (RM)

Top gainers and losers (ranked by RM)

KGROUP-WA 0.010 100.00AFG-CT 0.030 100.00LAFMSIA-CC 0.020 100.00FGV-C26 0.010 100.00MAGNUM-CY 0.015 50.00DSONIC-CV 0.045 50.00KAREX-C4 0.105 50.00BAUTO-CR 0.030 50.00EKA-WA 0.015 50.00WCT-C2 0.015 50.00BAUTO-CS 0.050 42.86SUMATEC-WB 0.020 33.33

DSONIC-CW 0.005 -75.00SANICHI-WB 0.015 -50.00DSONIC-C1 0.075 -50.00SENERGYC42 0.005 -50.00UMWOG-C16 0.005 -50.00IHH-C4 0.035 -41.67IHH-C3 0.025 -37.50KGROUP-WB 0.010 -33.33VSOLAR-WA 0.010 -33.33DGB-WA 0.010 -33.33JCY-C2 0.010 -33.33EWINT-CE 0.010 -33.33

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

KGROUP-WA 0.010 100.00AFG-CT 0.030 100.00LAFMSIA-CC 0.020 100.00FGV-C26 0.010 100.00MAGNUM-CY 0.015 50.00DSONIC-CV 0.045 50.00KAREX-C4 0.105 50.00BAUTO-CR 0.030 50.00EKA-WA 0.015 50.00WCT-C2 0.015 50.00BAUTO-CS 0.050 42.86SUMATEC-WB 0.020 33.33

DSONIC-CW 0.005 -75.00SANICHI-WB 0.015 -50.00DSONIC-C1 0.075 -50.00SENERGYC42 0.005 -50.00UMWOG-C16 0.005 -50.00IHH-C4 0.035 -41.67IHH-C3 0.025 -37.50KGROUP-WB 0.010 -33.33VSOLAR-WA 0.010 -33.33DGB-WA 0.010 -33.33JCY-C2 0.010 -33.33EWINT-CE 0.010 -33.33

UP CHANGE CLOSE (%)

DOWN CHANGE CLOSE (%)

Top gainers and losers - warrants (ranked by percentage)

PUC 99,335 0.00 0.000 0.140 0.155 0.140JAG 71,575 0.00 0.000 0.140 0.145 0.135PDZ 42,840 22.22 0.010 0.055 0.065 0.050EAH 41,094 13.33 0.010 0.085 0.090 0.075M3TECH-WA 36,689 0.00 0.000 0.050 0.060 0.045PUC-WB 34,099 0.00 0.000 0.075 0.090 0.075MINETEC 33,896 6.45 0.010 0.165 0.170 0.160M3TECH 32,768 -4.76 -0.005 0.100 0.110 0.100MINETEC-WA 29,376 18.18 0.010 0.065 0.070 0.055NEXGRAM 28,048 0.00 0.000 0.040 0.045 0.040XOX 26,730 4.76 0.005 0.110 0.110 0.100HWGB 25,909 10.00 0.005 0.055 0.060 0.050YTL 20,290 -2.11 -0.030 1.390 1.420 1.380NETX-WB 19,615 0.00 0.000 0.025 0.030 0.020DGSB 14,047 28.57 0.010 0.045 0.045 0.040FPGROUP 12,364 -1.19 -0.010 0.830 0.870 0.805

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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Moving average - 20-dayKL Composite Index

Volume (’mil)

Jan 2, 2008 Sept 8, 2017

1,779.90(-3.08)

1,773.23

820.0

1122.5

1425.0

1727.5

2030.0

0

300

600

900

1770.0

1771.3

1772.6

1773.9

1775.2

1776.5

1777.8

1779.1

1780.4

1781.7

1783.0

17:1516:3015:3014:3012:4511:3010:309:308:45

Index point

KL Composite Index

KLCI futures1,771.50

(-0.50)

1,779.90(-3.08)

SEP 17 1,771.50 -0.50OCT 17 1,771.50 UNCHDEC 17 1,768.50 -0.50

Where words fail, music speaks. — Hans Christian Andersen

HUAAN 313,392.6 0.055 30.56 0.235 — 0.00TITIJYA-PR 133,102.3 UNCH UNCH 0.010 — 0.00PUC 99,334.8 UNCH UNCH 0.140 58.33 0.00MLAB 97,601.3 -0.020 -12.50 0.140 80.00 0.00PALETTE 77,429.9 0.015 6.82 0.235 — 0.00JAG 71,574.7 UNCH UNCH 0.140 18.92 0.71PALETTE-WA 64,630.7 0.030 18.75 0.190 — 0.00CSL 45,196.5 UNCH UNCH 0.060 7.59 0.00PDZ 42,839.5 0.010 22.22 0.055 23.68 0.00EAH 41,093.6 0.010 13.33 0.085 37.50 0.00AT 36,749.3 UNCH UNCH 0.040 — 0.00M3TECH-WA 36,689.0 UNCH UNCH 0.050 — 0.00PUC-WB 34,099.4 UNCH UNCH 0.075 — 0.00MINETEC 33,896.0 0.010 6.45 0.165 — 0.00M3TECH 32,768.3 -0.005 -4.76 0.100 — 0.00HIAPTEK 30,490.6 UNCH UNCH 0.420 14.14 0.71MINETEC-WA 29,376.2 0.010 18.18 0.065 — 0.00NEXGRAM 28,048.0 UNCH UNCH 0.040 — 0.00XOX 26,730.1 0.005 4.76 0.110 — 0.00ANZO 26,666.1 0.005 4.55 0.115 — 0.00

1,779.90 3.08 6,649.58 38.58 3,228.56 0.50 19,274.82 121.70 27,668.47 145.55 21,797.79 13.011,779.90 3.08 6,649.58 38.58 3,228.56 0.50 19,274.82 121.70 27,668.47 145.55 21,797.79 13.01KLCI FBM ACE FTSTI NIKKEI HANG SENG DOW JONES1,779.90 3.08 6,649.58 38.58 3,228.56 0.50 19,274.82 121.70 27,668.47 145.55 1,779.90 3.08 6,649.58 38.58 3,228.56 0.50 19,274.82 121.70 27,668.47 145.55