FBM KLCI 1828.63 2.60 KLCI FUTURES 1833.50 Unch STI 3541.91 8.30 RM/USD 3.9520 CPO RM2485.

9520 CPO RM2485.00 33.00 OIL US$68.67 0.48 GOLD US$1336.60 0.50
PP 9974/08/2013 (032820)
PENINSULAR MALAYSIA RM1.50

THURSDAY JANUARY 18, 2018 ISSUE 2574/2018

FINANCIAL
DAILY
www.theedgemarkets.com
MAKE
BETTER
DECISIONS
EU lawmakers poised to adopt plan
to remove palm oil from biofuel mix
PA G E 2

3 HOME BUSINESS

Ekuinas sells Tenby

Education Group

Green Packet
4 HOME BUSINESS

Mah Sing partners

EduCity to
provide student
accommodation set to announce
RM300M E N T E R
5 HOME BUSINESS

No housing bubble
brewing in Malaysia
NOW!
DEAL WITH
— CBRE|WTW
6 HOME BUSINESS

MYTV
Poh Kong eyes
repeat of FY17
stellar performance
9 P R O P E RT Y

S P Setia to preview The contract could help the

UNO Melbourne in loss-making communication and
KL this weekend technology services firm become
profitable again — sources.
Chester Tay has the story on Page 3.

12 HOME More changes at the top at MSM

Visa-free travel to Its CEO is said to have resigned after disagreement over ED appointment
the US not likely 4 HOME BUSINESS
soon — envoy
 FBM KLCI 1828.63 2.60 KLCI FUTURES 1833.50 Unch STI 3541.91 8.30 RM/USD 3.9520 CPO RM2485.00 33.00 OIL US$68.67 0.48 GOLD US$1336.60 0.50
PP 9974/08/2013 (032820)
PENINSULAR MALAYSIA RM1.50

THURSDAY JANUARY 18, 2018 ISSUE 2574/2018

FINANCIAL
DAILY
www.theedgemarkets.com
MAKE
BETTER
DECISIONS
EU lawmakers poised to adopt plan
to remove palm oil from biofuel mix
PA G E 2

3 HOME BUSINESS

Ekuinas sells Tenby

Education Group

Green Packet
4 HOME BUSINESS

Mah Sing partners

EduCity to
provide student
accommodation set to announce
RM300M
5 HOME BUSINESS

No housing bubble
brewing in Malaysia

DEAL WITH
— CBRE|WTW
6 HOME BUSINESS

MYTV
Poh Kong eyes
repeat of FY17
stellar performance
9 P R O P E RT Y

S P Setia to preview The contract could help the

UNO Melbourne in loss-making communication and
KL this weekend technology services firm become
profitable again — sources.
Chester Tay has the story on Page 3.

12 H O M E More changes at the top at MSM

Visa-free travel to Its CEO is said to have resigned after disagreement over ED appointment
the US not likely 4 HOME BUSINESS
soon — envoy
2 T HUR SDAY JAN UARY 1 8, 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY
ON EDGE T V
www.theedgemarkets.com
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BUSINESS DEVELOPMENT
Senior Manager Elizabeth Lay
Move to eliminate palm
oil from biofuel mix
The EU Parliament plans push to endorse a legislative campaign
BRUSSELS: The European Parlia-
ment is poised to endorse a legis-
lative campaign to remove palm
oil from the list of designated re-
newable fuels after 2020, due to
concerns about its environmental
impact, a move that risks a trade
conflict with producers in Asia.
The three biggest political
groups in the European Union’s
(EU) assembly agreed to sponsor
an amendment to a draft law on
renewable energy (RE) that calls
for reducing to zero “the contribu-
tion from biofuels and bioliquids
produced from palm oil” as of
2021. Following a debate on the
proposal that was scheduled for
5pm on Monday in Strasbourg,
France, the EU Parliament was set
to hold a plenary vote yesterday.
“There is a broad majority sup-
porting the amendment and it is
set to go through,” Swedish law-
maker Fredrick Federley, over-
seeing the draft law on behalf
of the Liberal group in the EU
Parliament, said in an interview.
“There are concerns about palm
oil’s sustainability and we see
massive support from citizens
and politicians to end public sup-
port for it.”
The vote later this week will de-
fine the Parliament’s position for
talks with EU governments about
the final shape of the RE law. The
negotiating stance of EU member
states, agreed on in December,
does not include any provisions
to ban palm oil. The two parties
will need to reach a compromise
that also requires the approval of
the European Commission, which
proposed the post-2020 law on
renewables in November 2016.
Johor Sultan receives his own Flintstones car
BY ROZANNA LATIFF
KUALA LUMPUR: A Malaysian
sultan, known for his love of cars,
was this week given his very own
car right out of history, but he
won’t be getting blisters on his
feet driving it around.
Johor ruler Sultan Ibrahim Sul-
tan Iskandar was given a work-
ing replica of the car from the
1960s cartoon The Flintstones
by a fellow royal from Pahang,
according to a post on the Johor
Sultan’s official Facebook page
on Monday.
However, unlike the original
“footmobile”, which Fred Flint-
stone had to power with his feet,
Sultan Ibrahim’s car comes with Ibrahim’s favourite cartoon, the
its own engine. The Flintstones, post said.
produced by Hanna-Barbera and Malaysia has nine sultans, who
set in the Stone Age, is Sultan reign ceremonially in their own
Mah: EU’s move unjustified, discriminatory
BY S AM ANTHA HO
KUALA LUMPUR: Plantation In-
dustries and Commodities Min-
ister Datuk Seri Mah Siew Keong
yesterday slammed the European
Parliament’s decision to ban all
palm oil biofuels from the bloc’s
renewable energy (RE) in future,
calling the move unjustified and
discriminatory.
In a strongly-worded state-
ment, Mah said the move is a
“wholly unjustified blockade”
against Malaysia as it would allow
all other oilseed crops to contin-
ue operating under the European
Union’s (EU) RE directive.
“This is a clear case of discrimi-
nation against palm oil-producing
countries. The EU is practising a
form of crop apartheid. The Ma-
laysian government views this as
an unacceptable and protection-
ist trade barrier, and a breach of
the EU’s World Trade Organiza-
tion’s commitments,” he said.
Mah said the Malaysian gov-
ernment will take any action nec-
essary to protect its 650,000 palm
oil small farmers’ rights and se-
Producing nations
Malaysian Plantation Industries and
Commodities Minister Datuk Seri
Mah Siew Keong said last week that
Malaysia is prepared to retaliate and
other producing nations may follow
suit, if the EU excludes palm oil from
its biofuel mix. Forty-six per cent
of total palm oil imports into the
For breaking news updates go to
www.theedgemarkets.com
cure the future of the palm oil
sector that has lifted millions of
Malaysians out of poverty.
“Protectionist discrimination
against Malaysian palm oil ex-
ports will not be tolerated. The EU
Parliament’s decision to discrim-
inate against palm oil biofuels
will negatively impact European
trade in and cooperation with
Malaysia, and the wider South-
east Asian region.”
Malaysia is urging European
governments and the EU Coun-
cil to reject the EU Parliament’s
position on palm oil biofuels.
“The parliament’s blockade will
risk the the EU Council’s work in
creating European jobs and ex-
panding bilateral trade and other
strategic interests in Southeast
Asia,” said Mah.
Mah also dismisses the EU Par-
liament’s allegations concerning
local oil palm plantations’ impact
on the environment, saying it is
“demonstrably false”.
“Malaysia has one of the most
advanced forest protection re-
gimes in the world, as recognised
by the UN and the World Bank,
28-nation bloc are used for biofuels.
The EU aims to boost the share of
renewables in energy consumption
to at least 27% by 2030, with the tar-
get creating demand for clean fuels.
The EU Parliament’s push is sup-
ported by environmental lobbies,
which argue that Europe should end
support for high-emission biodiesel
A vehicle
replicating the
‘footmobile’
in The
Flintstones
seen in Johor
Baru this
week. Photo
by Reuters
states as well as take turns every
five years to serve as Yang di-Per-
tuan Agong, the country’s head
of state. — Reuters
among others. Malaysia’s forest
protection is vastly superior to
that of almost every EU mem-
ber state.
“Malaysian palm oil export-
ers are able to meet the strict-
est standards in sustainability
required by our European cus-
tomers, and Malaysian palm oil
biofuel exporters have been cer-
tified as sustainable by leading
European sustainability schemes,
including the German Interna-
tional Sustainability and Carbon
Certification, as recognised by
the EU Commission.
“Malaysia has proven
world-leading sustainable palm
oil practices, as confirmed by the
EU Commission’s own recognised
sustainability schemes.”
Mah said the EU Parliament’s
attempt to denigrate Malaysia
is insulting and has no basis, in
terms of facts.
Palm oil accounts for RM70
billion of Malaysia’s annual ex-
port revenue and around 7.5%
of its exports. About 39% of all
oil palm plantations in Malaysia
are cultivated by small farmers.
from palm oil, rapeseed and soy.
“Palm oil biofuel drives deforest-
ation and the draining of wetlands,
making biodiesel from palm oil
three times worse for the climate
than fossil diesel,” said Laura Buffet,
clean fuels manager at Transport
and Environment lobby in Brus-
sels. — Bloomberg
Khazanah launches
up to US$320.8m
exchangeable
sukuk
HONG KONG: Malaysian sov-
ereign wealth fund Khazan-
ah Nasional Bhd has launched
exchangeable sukuk to raise
US$309.4 million (RM1.22 bil-
lion) to US$320.8 million.
The zero-coupon sukuk are
exchangeable into H-shares in
Citic Securities. They have a tenor
of five years and an investor put
after three years.
The sukuk are offered with a
yield-to-maturity of 0% and an ex-
change premium of 35% to 40% over
the reference price of HK$18.9722
(RM9.47). CIMB and JP Morgan are
joint book runners. Citic Securities
shares jumped 8.09% to HK$19.50
yesterday. — Reuters
THU R S DAY JA N UA RY 1 8 , 20 1 8 • T HEED G E FINA NCIA L DA ILY
‘Green Packet set to
announce RM300m
deal with MYTV’
The contract could help the loss-making firm become profitable
BY CH E ST E R TAY
KUALA LUMPUR: Green Packet Bhd
is expected to announce that it has
bagged a deal worth RM300 million
from television broadcasting com-
pany MYTV Broadcasting Sdn Bhd
as early as today, people familiar
with the matter said, who believe
that the contract will help Green
Packet become profitable again.
According to sources, the con-
tract will entail Green Packet sup-
plying set-top boxes to MYTV — the
company selected back in 2014 to
spearhead the national digital ter-
restrial television (DTT) roll-out.
It is understood that the con-
tract was awarded directly to Green
Packet, which has been contracted
to develop the decoders and supply
4.2 million units to MYTV.
“The other contender for this
contract did not meet the techni-
cal requirement. They encountered
some technical issues with their
own products during the tendering
stage, especially in terms of produc-
ing viewership data,” one source told
The Edge Financial Daily.
“It (Green Packet) is expected
to make a public announcement
soon, either tomorrow (today) or
[on] Friday (tomorrow), on the mat-
ter,” another source said.
In October last year, MYTV’s
chief executive officer was report-
ed as saying that the new set-top
boxes to be distributed in the DTT
roll-out will have the ability to poll
viewership data and provide for
Ekuinas sells Tenby Education Group
BY A D EL A MEGA N WI L LY
& W O N G EE L I N
KUALA LUMPUR : Govern-
ment-linked private equity fund
Ekuiti Nasional Bhd (Ekuinas) has
sold its 100% shares in Tenby Ed-
ucation Group to International
Schools Partnership (ISP). Howev-
er, it did not disclose pricing details.
In a statement yesterday, Ekui-
nas chairman Raja Tan Sri Arshad
Raja Tun Uda said the divestment
is part of Ekuinas’ “prudent invest-
ment strategy to ensure a positive
internal rate of return (IRR)”.
“Additionally, Ekuinas believes
that ISP, which has the required re-
sources and operational expertise,
will be able to support and guide
the group towards continued suc-
cess,” he added.
over-the-top (OTT) and other future
interactive services. MYTV is wholly
owned by Altel Holdings Sdn Bhd,
which in turn is wholly owned by
Altel Group Sdn Bhd. Altel Group is
jointly owned by Datuk Hilmi Mohd
Noor and Azman Hanafi Abdullah.
News reports surfaced as early
as last year that Green Packet was
close to bagging a contract to supply
set-top boxes to MYTV. However,
the contract amount was unknown.
For the cumulative nine months
ended Sept 30, 2017, Green Packet
posted a net loss of RM18.38 million,
compared to a net profit of RM66.44
million a year ago on lower software
and devices sales, while revenue
came in flat at RM259.18 million
from RM256.6 million.
On Feb 17 last year, Green Pack-
et completed the subscription of a
20% stake in China-based Shenzhen
Memo Technology Co Ltd for 10
million yuan cash.
Shenzhen Memo’s principal
businesses are the sales of elec-
tronic products, import and export
of domestic trading, goods and tech-
nologies, including the provision
of smart-home Internet products
and services and home OTT boxes.
Sources told The Edge Financial
Daily that Shenzhen Memo will
manufacture the set-top boxes for
Green Packet, which will then sup-
ply them to MYTV.
“With 4.2 million households
receiving the free digital television
decoders, the business of managing
these set-top boxes can spur other
According to Ekuinas, the sale
marks its eighth divestment, bring-
ing total realisation proceeds to more
than RM1 billion, including the di-
vestment of its 42.3% stake in Icon
Offshore Bhd last year.
“We are pleased that after eight
years in operation, our divestment
initiatives are progressing rapidly to
accelerate the realisation of our in-
vestments. The time and economic
climate are right for us to exit Tenby
as the divestment enables Ekuinas to
generate positive returns to maintain
the funds’ performances,” Ekuinas
chief executive officer (CEO) Syed
Yasir Arafat Syed Abd Kadir said.
“Through this divestment, Ekui-
nas will substantially cover its origi-
nal cost of investment and generate
a positive IRR of 45.7% and money
multiples of 2.5 times the capital
opportunities, such as digital wal-
lets [which offer incentives] such as
cash rebates where consumers can
use to top up their services under
MYTV,” a source said.
“There are some 7.2 million
households in Malaysia, so apart
from supplying to the 4.2 million
BR1M (1Malaysia People’s Aid) re-
cipients, Green Packet would also
be able to sell the set-top boxes in
the open market,” the source added.
In June last year, Prime Minister
Datuk Seri Najib Razak announced
that the government will give out
free digital television decoders to
4.2 million BR1M recipients in Ma-
laysia in phases until the end of
this year. The free decoders, worth
RM199 each, would be provided
by the government to bridge the
gap between rural and urban com-
munities.
On Dec 15 last year, Green Packet
also announced that it was team-
ing up with Asia Television Digi-
tal Media (M) Sdn Bhd (ATVM) —
whose ultimate holding company
is Hong Kong-listed Co-Prosperity
Holdings Ltd — to jointly operate
broadcasting television (TV) chan-
nels in Malaysia.
ATVM was reportedly desirous of
collaborating with Green Packet and
will invest HK$50 million (RM25.1
million) in the project.
Green Packet shares rose one sen
or 1.75% to close at 58 sen yesterday,
giving it a market capitalisation of
RM435.59 million. The counter has
risen 115% over the past year.
invested, including dividends re-
ceived,” he added.
Established in Ipoh in 1960, Ten-
by is an education group in Malaysia
offering private national and interna-
tional curriculums across six campus-
es in Ipoh, Penang, Miri, Setia Alam,
Johor Baru and Semenyih.
Via its investment in Tenby, Ekui-
nas said it has undertaken a few ini-
tiatives to aggressively grow Tenby’s
revenue and earnings such as increas-
ing student numbers from about 4,600
to over 5,000, and driving expansion
through the opening of Tenby Ecohill
in 2016 and Tenby Tropicana Aman,
which is scheduled for a 2018 opening.
ISP was founded by a team of
experienced school operators with
both educational and commercial
expertise, managing and provid-
ing education to 16,000 students
HOME BUSINESS 3
SERC sees ringgit at 3.8 by end-2018
as Malaysia readies for OPR hike
BY BI LLY TO H
KUALA LUMPUR: The ringgit is
projected to trade between 3.8000
and 3.9000 against the US dollar
by end-2018, amid stronger crude
oil prices and as Malaysia raises
its key interest rate, according to
Socio-Economic Research Cen-
tre (SERC) executive director Lee
Heng Guie.
In fact, Lee expects the central
bank to raise rates as early as next
week, when the monetary policy
committee meets for the first time
this year. “Looking at the current
economic environment, it is ready
for a monetary policy review. Al-
though the economic growth is
expected to moderate, it is main-
ly due to the high-base effect and
at about 5%, it is still a credible
growth. At this level, the market
is able to absorb a small rate hike
of 25 basis points (bps),” Lee said
during a media briefing on SERC’s
quarterly economic tracker and
outlook for 2018.
While Lee expects one rate hike
of 25bps for 2018, he said the mar-
ket needs to brace for the possibil-
ity for further hikes if the country
continues to see steady economic
growth, demand-induced price
pressure and a narrowing yield
gap in 2018.
According to Lee, a synchro-
nised tightening in the global mon-
etary policy in 2018 or a faster-
than-expected rate hike in the US
are factors the central bank will
have to consider.
While he noted that the US
Federal Reserve had started on
a gradual rate hike and to shrink
its balance sheet last year, the Eu-
ropean Central Bank and Bank of
Japan had continued on its mon-
etary stimulus. But a convergence
in tightening monetary stance is
possible this year, he said. Other
external factors to watch out for are
geopolitical tensions in the Middle
East and between the US and North
Korea. On the local currency, he
said “the impending 14th general
election could provide the ringgit
with headwinds in the first half of
in Pre-K-13 schools across Europe,
North America, Central America
and the Middle East.
Ekuinas said Tenby presents an
opportunity for ISP to expand into
the Asean market, complementing
the existing strengths of Tenby and
adding a new dimension brought on
by their educational and commercial
expertise as well as their experiences
from schools in other countries under
its portfolio. With Tenby, ISP’s port-
folio of schools will increase to 25.
“We are extremely pleased with
our acquisition of Tenby, which is our
first acquisition in Southeast Asia. This
demonstrates our ambition to grow
our partnerships across different re-
gions all over the world,” said Steve
Brown, who is CEO of ISP.
Last week, Ekuinas announced the
disposal of its entire stake in APIIT
the year”, while “good economic
and financial fundamentals remain
supportive of the ringgit, which is
fundamentally undervalued”.
Lee said the stronger ringgit
seen in 2017 is an indication that
the local currency has bottomed,
amid support from stronger crude
oil prices. He expects the Brent
crude oil price to average about
US$60 (RM237) to US$65 per bar-
rel this year. At the time of writing,
Brent was trading at US$69.12 per
barrel.
On inflation, SERC is projecting
it will moderate to 3.5% in 2018
compared with the 3.9% estimat-
ed for 2017, partly aided by a high
base effect, and as gross domes-
tic product (GDP) growth is seen
moderating to 5.1% in 2018, from
an expected 5.8% to 6% in 2017.
“While we expect growth to
moderate in 2018, we see an up-
side risk to our projection. Certain
sectors such as [the] semiconduc-
tor and electronics [sectors] are
still very good. The oil price has
also strengthened. If it remains at
this level, it will be good for Ma-
laysia,” said Lee. He anticipates all
economic sectors to grow this year,
albeit at a slower pace. The servic-
es, manufacturing and construc-
tion sectors will continue to lead.
Drivers of services are steady
domestic spending, higher tour-
ists’ arrivals, logistic services and
financial services. As for the man-
ufacturing sector, growth will be
underpinned by export-oriented
industries, specifically demand
for electronics and electrical prod-
ucts, refined petroleum and build-
ing materials, food products and
transport equipment.
GDP growth could trend higher
if exports strengthen further this
year despite the high base set in
2017, where export growth is ex-
pected to hit 19.8%, said Lee.
Meanwhile, the construction
sector’s growth this year will be
sustained by mega infrastructure
projects like the East Coast Rail
Link, the mass rapid transit and
the electrified double-track Ge-
mas-Johor Baru railway line.
Education Group for an enterprise
value of RM725 million.
The new owners of APIIT Group
are joint-venture vehicles owned
by the existing key management
team of APIIT Group and KV Asia
Capital — a private equity firm that
invests in midsized companies in
Southeast Asia.
APIIT Group comprises the Asia
Pacific Schools, Asia Pacific Univer-
sity of Technology & Innovation and
Asia Pacific Institute of Information
Technology.
With the disposals of Tenby and
APIIT Group, ILMU is now left with
three education brands, including
Unitar International University,
Cosmopoint College and Kuala
Lumpur Metropolitan Universi-
ty College — also parked under
Cosmopoint.
4 HOME BUSINESS
More changes at the top
at MSM — sources
Its CEO is said to have resigned after disagreement over ED appointment
BY WONG EE L I N
KUALA LUMPUR: MSM Malay-
sia Holdings Bhd, the country’s
largest refined sugar producer,
will likely see more changes to its
management structure, according
to sources.
A source familiar with the matter
said MSM is to see the departure
of its current president and group
chief executive officer (CEO) Mo-
hamad Amri Sahari@Khuzari, who
has tendered his resignation after
disagreeing with the group’s major
shareholder Felda Global Ventures
Holdings Bhd (FGV) over the re-
cent appointment of an executive
director (ED) to MSM’s board.
MSM is a 51%-owned unit of
publicly traded FGV, which in turn
is controlled by the Federal Land
Development Authority.
When contacted yesterday, an
MSM official told The Edge Finan-
cial Daily that she was unaware of
Mah Sing partners EduCity for student housing
BY N E I LY SYA FI QA H EU SO FF
KUALA LUMPUR: Mah Sing Group
Bhd has teamed up with EduCity
Iskandar Malaysia Sdn Bhd, a whol-
ly-owned subsidiary of Iskandar
Investment Sdn Bhd, to provide
student accommodation at Phase
2 of Mah Sing’s Meridin@Medini
Executive Suites in Iskandar Put-
eri, Johor.
The property group yesterday
signed a memorandum of under-
standing (MoU) with EduCity to offer
183 fully furnished apartment units,
which would cater to 370 students,
out of 583 available units.
Mah Sing chief executive officer
Datuk Ho Hon Sang (pic) said the
Meridin@Medini project is located
3.6km from EduCity and will be the
first external student accommoda-
tion provider for Iskandar Malaysia’s
education hub.
“We will provide first-class fa-
cilities to the students who study at
EduCity with the starting price from
Parlo exits GN3 status after regularisation completion
BY A H M AD NAQ I B I D RI S
KUALA LUMPUR: Vehicle-tracking
solutions provider Parlo Bhd is no
longer classified as a Guidance Note
3 (GN3) company as it has managed
to regularise its operations.
“With the completion of the com-
pany’s regularisation plan, Parlo has
regularised its financial condition
Mohamad Amri’s resignation, add-
ing that “the CEO is still around
today (yestreday)”.
Mohamad Amri started his ca-
reer as a factory engineer at Felda
Palm Industries Sdn Bhd (1989), a
mill manager of Hamparan Badai
Oil Mill (1996) and was a general
manager at Felda Palm Industries
Sdn Bhd in 2004. Subsequently, he
moved to MSM Perlis Sdn Bhd as
its general manager in 2004 and
was promoted to senior general
manager in 2008 and became its
CEO in 2010.
He was appointed MSM dep-
uty CEO in 2011. He assumed his
current post in July 2016 follow-
ing the passing of Datuk Sheikh
Awab Sheikh Abod while in office
in April 2016.
According to MSM’s Annu-
al Report 2016, Mohamad Amri
is notably known for his strong
core values and has built a career
spanning 27 years with Felda and
RM850 per month per student. We
will also provide two-way bus shuttle
services between Meridin@Medini
and EduCity for students staying at
our development,” Ho told a press
conference.
He said the partnership with Edu-
City is an ongoing one because there
will be a continuous flow of students
coming to study at the education
hub. “It is as far as the moon and
stars; there is no timeline to end the
partnership,” he quipped.
Phase 2 of Meridin@Medini fea-
tures Meridin Executive Suites, Me-
ridin Walk Lifestyle Mall and two
blocks of hotel suites, namely Ram-
ada Meridin and Ramada Encore
Meridin.
The project has seen a take-up
rate of 60% and the group targets to
hand over the keys to purchasers by
the first quarter of 2018.
“There is a potential growth in
Meridin@Medini in terms of price
and rental yield. With high-speed
rail coming in, we see a tremendous
and level of operations and no longer
triggers any of the criteria under Par-
agraph 2.1 of GN3 of the ACE Market
Listing Requirements,” said Bursa
Securities in a filing yesterday. The
suspension of Parlo shares will be
lifted effective today.
Along with the resumption of trad-
ing, Bursa has granted Parlo listing
and quotation of an additional 354.03
MSM Group, along with his vast
work experience in the sugar in-
dustry. At present, he sits on the
board of several companies within
MSM Group.
MSM has seen several chang-
es to its management team and
board since last year.
On June 1, 2017, Raja Faridah
Raja Ahmad was appointed MSM
chief financial officer, replacing
Aznur Kama Azmir whose second-
ment contract from FGV to MSM
ended on May 31, 2017.
On Sept 26, 2017, FGV chair-
man Datuk Wira Azhar Abdul
Hamid was appointed non-in-
dependent and non-executive
chairman of MSM, a post left
vacant when Tan Sri Mohd Isa
Abdul Samad resigned as chair-
man of both MSM and FGV in
June the same year amid a board-
room tussle at FGV. Azhar, 56,
was appointed FGV chairman
on Sept 8, 2017.
PHOTO BY PATRICK GOH
influx in Johor,” said Ho.
He said students have the op-
tion of choosing a studio unit or a
twin-sharing studio unit, which have
built-up space ranging from 341 sq
ft to 603 sq ft.
The units come with induction
cooker, heated shower, air condi-
tioner, lightings, mattress, wardrobe,
study tables, chairs as well as fridge.
million new shares issued pursuant
to its regularisation plan, comprising
the acquisition of its shares from sev-
eral shareholders, a debt settlement
agreement with a former shareholder
and a private placement exercise of
up to 84.01 million shares.
Parlo shares were suspended from
trading on Jan 28, 2016, with the coun-
ter last traded at 0.5 sen, after the com-
T HUR SDAY JAN UARY 1 8, 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY
Pursuant to this, Datuk Ros-
ini Abdul Samad ceased to be
MSM acting chairman — a role
she assumed on June 19, 2017,
but continued to be a member of
the group’s board. MSM also an-
nounced the resignation of Datuk
Noor Ehsanuddin Mohd Harun
Narrashid due to professional and
personal reasons.
More recently, on Dec 11, 2017,
MSM non-independent director
Datuk Khairil Anuar Aziz, 50, was
redesignated as executive direc-
tor of the group. Khairil was the
officer-in-charge to helm the du-
ties and responsibilities of FGV’s
group president and CEO in July
last year, following the leave of
absence of Datuk Zakaria Arshad.
Khairil’s redesignation trig-
gered rumours that he is about
to take the helm of MSM.
MSM shares closed unchanged
at RM4.08 yesterday, with a market
capitalisation of RM2.87 billion.
EduCity chairman Datuk Khairil
Anwar Ahmad said the partnership
with Mah Sing would provide more
options for students to consider as
accommodation is a crucial aspect
of their daily life.
“We are giving another oppor-
tunity for the students to consider
although we encourage students to
stay within the campus in their first
and second years, because some
students prefer more privacy and
choose to stay further from cam-
pus,” he said, adding that EduCity
has about 3,000 students.
On the outlook for Mah Sing this
year, Ho reiterated that the group
would continue to focus on deliv-
ering affordable properties priced
from RM400,000 to RM500,000 each.
“From the market feedback and
our analysis we believe that there is
still a good response to properties at
affordable prices,” he said.
Mah Sing’s share price closed at
RM1.47 yesterday, giving it a mar-
ket capitalisation of RM3.57 billion.
pany — then known as Cybertowers
Bhd — triggered the GN3 criteria in
October 2013.
The company triggered Paragraph
2.1 (a) and (b), which state that the
shareholders’ equity of a listed corpo-
ration must be above 25% of its issued
capital and the incurring of a loss in a
financial year equal to or exceeding
the amount of its shareholders’ equity.
Tatt Giap
founder ceases
to be substantial
shareholder
BY S A MA N T H A H O
KUALA LUMPUR: Tatt Giap
Group Bhd founder Datuk Siah
Kok Poay has ceased to be a sub-
stantial shareholder of the group
after disposing of another 8.36
million shares in the company,
or a 4.9% stake, yesterday.
Siah, who is also Tatt Giap
executive chairman, sold the
shares via his private vehicle
Giapxin Sdn Bhd, leaving him
with a 3.39% stake in the group,
the group’s filings with the stock
exchange showed.
According to Bloomberg data,
the 8.36 million shares crossed
in a single transaction at 12 sen
per share, or RM1 million in all,
yesterday afternoon. At the time
of writing, it was unknown who
the buyer of the stake was.
The trading price represents
a 7.5 sen discount to Tatt Giap’s
closing price of 19.5 sen yester-
day, after it gained 0.5 sen or
2.63%. The group has a market
capitalisation of RM33.27 million.
Siah has been trimming his
stake in the steel maker over
the last few months. On Dec 26,
Penang property magnate Tan
Sri Ooi Kee Liang emerged as
a substantial shareholder after
buying a 7.62% stake from Siah.
D’Nonce confirms
MD looking to
sell a substantial
stake
BY S A MA N T H A H O
KUALA LUMPUR : D’Nonce
Technology Bhd group man-
aging director (MD), CEO and
single largest shareholder, Law
Kim Choon, is looking to sell a
substantial block of his shares
in the company.
Earlier yesterday, a local news
outlet reported that the company
was the target of a takeover ex-
ercise, with preliminary negotia-
tions ongoing at the shareholder
level, according to sources.
“The single largest shareholder
confirmed that he is in the midst
of negotiation with potential in-
vestors,” D’Nonce said in a filing
with the stock exchange in re-
sponse to the report.
It added that the terms of the
transaction have yet to be final-
ised and that the company would
make the necessary announce-
ment when the transaction is
concluded.
D’Nonce was in the limelight
in late 2016 when it said one of
its major shareholders was in
talks with poultry and egg player
Lay Hong Bhd for a stake in the
company.
Shares in D’Nonce closed
up four sen or 10.81% at a two-
month high of 41 sen yesterday,
giving the group a market cap-
italisation of RM75.65 million.
THU R S DAY JA N UA RY 1 8 , 20 1 8 • T HEED G E FINA NCIA L DA ILY
No housing bubble
brewing in Malaysia
— CBRE|WTW
Market seen ‘uneventful’ this year despite overhang concerns
BY TA N XUE Y I N G
KUALA LUMPUR: There are no signs
of a housing bubble in the Malaysian
property market, which is expected
to stay “uneventful” this year despite
some property overhang concerns,
according to CBRE|WTW.
“The bubble will not happen. We
have not seen panic selling happen-
ing in Malaysia, and there is no price
overheating,” its managing director
Foo Gee Jen said at a press confer-
ence after the company’s “2018 Asia
Pacific Real Estate Market Outlook:
Malaysia” briefing here yesterday.
Foo stressed that signs of pan-
ic selling and overhang issues are
prevalent only in certain sub-loca-
tions, such as in Cyberjaya, where
vacancy rates are generally higher.
Elsewhere, take-up rates are still
at “reasonable” levels, he said, cit-
ing the landed residential segment,
whose rate hovers at 65% to 70%.
The reported 130,000 units of over-
hang residential properties as of the
first quarter of 2017 (1Q17) — as an-
nounced by Second Finance Minister
Datuk Seri Johari Abdul Ghani last
October — will eventually be ab-
sorbed by the market as developers
have slowed their launches, said Foo.
Pricing too has moderated about
5% to 8% in the past three years,
thanks to various cooling measures
introduced by Bank Negara Malay-
sia, such as the real property gains
tax and foreign ownership restric-
tions, to curb
b speculations which led
to disproportionate
ortionate appreciation,
according to o Foo. He also noted
that wages increased
ncreased 5% to 6.5%
in the same period.
In the first
irst half of 2017
(1H17), residential
sidential transac-
tions in Malaysia
alaysia declined
by 7% year-on-year
-on-year (y-o-y),
compared with a 14.5% y-o-y
decline in 1H16,
H16, based on data
from CBRE|WTW.WTW.
Foo hinted
ed that volume had
picked up moving into
Russian hospitals key to Malaysian small-cap UCrest
BY C H O O N G EN HA N
KUALA LUMPUR: UCrest Bhd, a
healthcare application develop-
er and network solution provider,
expects revenue to surge by eight
to 10 times this year, boosted by
orders from Russia, Eg Kah Yee, its
chairman and founder, said in an
interview on Jan 11.
The company has been contract-
ed to help build a national cloud
4Q17, as developers took steps to
re-strategise in response to market
needs and offer products ranging
between RM300,000 and RM500,000
in and outside the Klang Valley.
The challenge moving forward,
however, is to fill up affordable
housing schemes, he said, which
are seeing a mismatch in location
and public reception, as well as small
offices home offices (Sohos) and
small offices versatile offices (Sovos)
launched in the past five years.
Iskandar Malaysia’s high-rise
home units up 95% from 2016
Meanwhile, CBRE|WTW observed
that there is a looming supply in
Iskandar Malaysia, not just in the
residential segment, but also in its
retail and office segments, in 2018
and beyond.
Upcoming mega developments
in Iskandar Malaysia are expected
to raise the supply of high-rise resi-
dential units to 82,478 units in 2018,
from 71,862 units estimated for 2017,
compared with 42,254 units in 2016
— a 95% increase in two years’ time.
Competition in the region’s office
space is also expected to intensify
within the next three years, as there
will be an influx of 2.7 million sq ft,
contributed by seven office build-
ings in the pipeline, such as Me-
nara JLand and Menara MBJB, said
CBRE|WTW director Tan Ka Leong.
“We foresee that once these
buildings are completed, the office
sector [in Iskandar Malaysia] will
see a challenging peri-
od in getting tenants
for new buildings,”
said Tan.
Foo: About 60%
of the office
buildings in Kuala
Lumpur have
ageing issues.
Photo by Mohd
Suhaimi Yusuf
network for Russia’s public hospital
system; and a network to help the
Russian government save costs and
lighten the burden on the nation’s
healthcare system.
The current contract is to pro-
vide equipment for the cloud net-
work for 20 hospitals. Russia has
about 20,000 healthcare facilities,
according to Eg.
“It’s probably not even a drop
in the ocean,” said Eg, referring to
The office property sector in Ma-
laysia is not looking too positive for
the older, non-dual-compliant office
buildings.
“About 60% of the office buildings
in Kuala Lumpur have ageing issues;
I doubt they are price-competitive,”
said Foo, adding that they may lack
behind in trends of high-speed In-
ternet access and lifts, high ceilings
and large floor plates. “We foresee
there will be a lot of challenges to
the older buildings, [with] increas-
ing vacancy rates — to an alarming
level of closer to 20% — from 16% to
17% at the moment,” he explained.
As such, Foo urged older office
spaces to look into readaptation of
use, such as converting into hotels and
in-city residential units. This has been
seen in the retail sector, where some
neighbourhood malls have tried to
keep afloat by reshaping their tenant
mix to feature more food and bever-
age outlets, and increased activities.
Hotel, industrial segments most
positive
Of all property segments, hotels and
industrial are the ones seen as having
the most optimistic outlook for 2018
and beyond, driven by the tourism
industry and technological revolu-
tion, said CBRE|WTW.
This is true in Penang, where its
industrial property sector is expect-
ed to be sustained by manufacturing
investment and reinvestment in the
state, particularly electrical and elec-
ttronics businesses. In Kuala Lumpur,
business activity evolution spanning
b upgrade KLIA satellite building
tthe manufacturing and services sec-
ttors is slowly transforming demand
ffor industrial production and inven-
ttory spaces, said CBRE|WTW direc-
ttor Ungku Iskandar Ungku Ismail.
Meanwhile, the increasing pop-
ularity of tourist accommodation
u has secured a RM12.93 million con-
platform Airbnb is expected to only
p tract to upgrade the satellite build-
pose minimal impact on the hotel
p ing at the Kuala Lumpur Interna-
property sector. Such impact, if any,
p tional Airport (KLIA) Complex.
iis seen as limited to three-star ho-
ttels, he added.
its current orders. There’s a “long
way to go”. Eg said UCrest is now
working with other companies to
expand into other republics, with-
out naming them.
The company’s current order
book is worth about RM30 million,
which comes from units of Russian
Telecom Equipment Co, part of
Russia’s state-owned Rostec.
UCrest’s breakthrough came
when Russia passed a legislation
HOME BUSINESS 5
NEWS IN BRIEF
Eversendai bags two contracts worth
RM272m for structural steel works
BY WO NG E E L IN
KUALA LUMPUR: Eversendai
Corp Bhd has bagged two con-
tracts worth RM272 million to un-
dertake structural steel works for
a mixed-use development and a
luxury high-end residential tower.
The contracts were secured via
its wholly-owned unit Eversen-
dai Engineering LLC Dubai (EVS
Dubai). The mixed use develop-
ment is the One Za’abeel, while
the residential tower is the Ad-
dress Tower Residence IL Primo.
In a filing with Bursa Malay-
sia yesterday, Eversendai said
the One Za’abeel contract was
awarded by Dubai’s ALEC En-
gineering and Contracting LLC,
RAM puts RM845m MRCB Southern
Link sukuk on negative rating watch
BY ADELA MEGAN WILLY
KUALA LUMPUR: RAM Rating
Services Bhd has placed the BB3
rated MRCB Southern Link Bhd’s
RM845 million senior sukuk on
its rating watch, with a negative
outlook, following the abolition
of toll collection on the 8.62km
Eastern Dispersal Link (EDL)
on Jan 1, and the takeover of the
link by the government.
Negotiations are now ongo-
ing between the EDL toll con-
cessionaire — MRCB Lingkaran
Selatan Sdn Bhd — and the gov-
ernment to mutually terminate
the EDL concession, and to fix
a final settlement amount, RAM
said in a statement yesterday.
RAM expects to resolve the
rating watch once details of the
proposed settlement and repay-
ment of the company’s sukuk
Fajarbaru bags RM12.93m job to
BY AHM A D N AQ IB ID R IS
KUALA LUMPUR: Fajarbaru Build-
er Group Bhd’s (FBG) subsidiary
Fajarbaru Builder Group Sdn Bhd
In a filing with the bourse, the
company said the contract is for a
to facilitate a new online, nation-
wide patient record database and
telemedicine, wrote Nigel Foo, an
analyst at CIMB, in a non-rated
report dated Oct 18, 2017.
UCrest posted a RM3 million net
profit for the first quarter ended
Aug 30, 2017, versus a net loss of
RM516,000 a year ago. It is sched-
uled to report its second-quarter
results by end-January.
The company’s shares have
while the IL Primo Address Tow-
er deal was awarded by Turkey’s
TAV Construction.
“All relevant approvals with re-
gard to awards of the contracts have
been secured today (yesterday),”
said Eversendai, adding the con-
tacts are to be completed in 2020.
It said the new contracts should
contribute positively to its earnings
and net assets per share from the
financial year ending Dec 31, 2018,
until completion of the jobs.
Eversendai shares rose 1.5 sen
or 1.79% to 85.5 sen yesterday,
after 5.99 million shares were
traded, giving it a market value
of RM667.75 million. Over the
past 12 months, the stock has
climbed some 33% from 62 sen.
obligations are made available.
It said as at Dec 31, 2017,
MRCB Southern Link’s cash bal-
ances stood at RM17.45 million.
Given the absence of toll revenue
since Jan 1, this cash pile won’t
be sufficient to settle ensuing
principal and profit payments
on its senior sukuk, it said.
RAM estimates the drawdown
of the company’s finance service
reserve account bank-guarantee
facility to alleviate cash short-
falls in honouring its financial
obligations up to June.
If negotiations on the final
settlement are prolonged and
in the absence of support from
shareholders or any other exter-
nal liquidity, the senior sukuk’s
rating is expected to be down-
graded in anticipation of a po-
tential default by year end, it
added.
period of fourteen months, start-
ing from Feb 1, 2018 to March 31,
2019, and will entail works for the
mezzanine floor, passenger floor
and ground floor.
“The contract is expected to
contribute positively to the earn-
ings and net assets of the FBG
group for the financial years end-
ing June 30, 2018, and June 30,
2019,” it said.
surged 585% over the past six
months through Tuesday, when
it settled at 44.5 sen, making it the
best performer out of 111 compa-
nies listed on Bursa Malaysia’s ACE
Market during the period.
Eg is also the owner of Key ASIC
Bhd, a chip designer with business
ties to Russian companies, which
have resulted in expansion of the
relationship to healthcare applica-
tion. — Bloomberg
6 HOME BUSINESS
Poh Kong eyes repeat of
FY17 stellar performance
Jeweller calls bitcoin a bubble, says gold a better investment tool
BY A DA M A ZI Z
KUALA LUMPUR: Poh Kong Hold-
ings Bhd, which registered a dou-
ble-digit growth in net profit for
the financial year ended July 31,
2017 (FY17), is optimistic about
matching, or even outdoing, the
stellar performance in FY18.
Its executive chairman Datuk
Choon Yee Siong (pic) said this can
be achieved if the upward trend in
gold prices seen in 2017 continues,
further aided by improving demand
for its jewellery products, still a ma-
jor contributor to the group.
“We are expecting FY18 to be
better than FY17. Overall, the global
economy is picking up, including
that in Malaysia,” Choon told re-
porters after the jeweller’s annual
general meeting yesterday.
He said the better economy,
alongside Malaysians’ gradual ac-
ceptance of the goods and services
tax, has resulted in higher con-
Malaysian, Philippine bonds find
little love amid tightening bets
BY L I AU Y- SI NG & D I TA S LOP EZ
KUALA LUMPUR/MANILA: The
new year is likely to bring little
cheer for local-currency bonds in
Malaysia and the Philippines as
bets that central banks in the two
nations will tighten policy soon
keep buyers at bay.
UOB Asset Management Ltd pre-
dicts Bank Negara Malaysia (BNM)
and Bangko Sentral ng Pilipinas
(BSP) will raise their benchmark
interest rates at least twice in 2018
as inflation quickens, with the pos-
sibility that BSP may hike a third
time. The countries saw tepid in-
vestor appetite for their debts in
2017, as Malaysia had its weight-
ing in the JPMorgan Chase & Co’s
bond indices reduced, and losses
in the peso hurt sentiment towards
Philippine notes.
“We expect muted foreign in-
flows to Malaysia’s and the Philip-
pines’ local-currency bond markets
to persist in 2018,” said Florencia
Di Gregorio, Singapore-based vice-
president for emerging markets
fixed income at UOB Asset, which
oversaw about US$25.2 billion
(RM99.54 billion) as of end-No-
vember. “As such, we remain de-
fensive about Malaysian and Phil-
ippine government bonds.”
Calls for higher rates in the Phil-
ippines come even as the cen-
tral bank has been downplaying
the need for them. Its governor
Nestor Espenilla said on Tuesday
the monetary authority is still stud-
sumer spending — this was seen
in the pickup in Poh Kong’s sales
in recent quarters.
“Gold analysts are expecting [the
gold price] to be around US$1,350
(RM5,332.50) to US$1,400 [per
ounce] in the short term. If gold
prices continue to trend upwards,
it would also enhance the sales of
gold bullion and gold bars among
investors,” added Choon.
Poh Kong currently maintains an
inventory of some RM540 million
worth of merchandise, enough to
last the group an average of three to
four months, said Choon, also Poh
Kong’s group managing director.
This has indirectly allowed Poh
Kong to benefit if stocks acquired
earlier are sold at higher prevailing
prices, but Choon said there is no
plan to further leverage on that.
“The inventory is allocated on [a]
per-store basis — a comfortable
level for us at the moment.”
The higher demand for jewel-
ying the possible effects of higher
taxes on inflation projections. “I
wouldn’t put it as if we are itching
to raise interest rates,” Espenilla
said in an interview at his office
in Manila.
However, economists’ forecasts
still suggest rate hikes are probable.
The BSP, which next reviews policy
on Feb 8, will deliver at least two
25-basis point increases in its key
rate by end-2018, according to a
Bloomberg survey. A separate poll
has 12 of 22 economists predicting
BNM to raise the benchmark rate
by end-March. Its next meeting is
on Jan 25.
Foreign holdings of Malaysian
sovereign bonds declined by US$1.8
billion last year, the first drop since
2008. Nikko Asset Management Ltd,
“neutral” on Philippine and Malay-
sian government notes, said there
is a possibility that price pressures
could worsen.
“If we see signs that inflation
is rising faster-than-expected in
these countries, leading to a higher
chance of more than one hike, we
are likely to take a more bearish
stance,” said Edward Ng, a fixed-in-
come portfolio manager in Sin-
gapore at Nikko, which oversaw
US$194.7 billion as of end-Sep-
tember.
One-year interest-rate swaps for
the Philippines are trading near a
seven-year high reached in Decem-
ber. Similar swaps for Malaysia are
close to a 21-month high reached
in November.
lery and gold products seen by Poh
Kong in FY17 had extended to the
first quarter of FY18 (ended Oct
31, 2017), with net profit tripling
to RM5.36 million. Revenue grew
19.1% to RM220.93 million, driven
by its retail division.
Poh Kong operates 94 branches
in Peninsular Malaysia, with
another one in the pipe-
line. The new outlet’s
location has not been
identified, but Choon
said it is not in East
Malaysia for now.
The jeweller will
also continue to mar-
ket its products via
e-commerce, which
saw double-dig-
it revenue
growth year-
on-year in
FY17, thanks
to an inflow
of new buy-
Currency seems to be another
key risk for investors in Philippine
bonds. The peso, which slipped for a
fifth straight year in 2017 amid a de-
terioration in the current account,
is already down 1.5% this month,
making it 2018’s worst performer
in emerging Asia.
However, BNP Paribas Asset
Management said there are other
reasons that make bonds in Malay-
sia and the Philippines attractive
for global investors.
Having experienced outflows,
Malaysia is one of the few coun-
tries with a lower share of foreign
ownership than a few years ago,
according to Jean-Charles Sambor,
deputy head of emerging-mar-
ket debt in London at BNP Pari-
bas, which oversees €571 billion
(RM2.735 trillion) globally. For
the Philippines, the recent sell-off
should offer some opportunities
as real interest rates are now more
appealing, he said.
“We are overall positive on these
two markets,” Sambor said. Ma-
laysia’s overall fundamentals are
“sound, with [a] healthy balance
of payments and no sign of fiscal
slippage” and the recent pickup
in yields in the Philippines “could
provide a good opportunity to add
some” exposure, he added.
Even so, Manila-based First
Metro Investment Corp sees the
possibility of higher consumption
taxes in the Philippines bolstering
inflation and putting upward pres-
sure on bond yields. — Bloomberg
T HUR SDAY JAN UARY 1 8, 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY
ers, and improved trust by repeat
customers who purchased its more
expensive products.
Poh Kong first entered the digi-
tal sphere in 2012, but Choon said
it has only seen a significant con-
tribution last year. “It is not just
cheaper products; we are seeing
people purchasing gold bars on-
line, and slightly higher-priced
jewellery as well. We see this
as the trend to go.”
Choon conceded that there
is intensified competition in
the e-commerce market,
but said “trust is always an
issue for online shopping”.
Poh Kong’s offline pres-
ence has helped
position it as a
trusted jewel-
ler among on-
line shoppers,
he added.
On a re-
lated matter,
THE EDGE FILE PHOTO
Lenders want Maxis to inject
US$1b into sister company Aircel
BY C H E S T E R TAY
KUALA LUMPUR: Lenders want
Aircel Ltd promoter, Maxis Bhd, to
inject at least US$1 billion (RM3.95
billion) into the former so it can
meet financial obligations, accord-
ing to a report by India’s business
news portal, Business Standard.
The report, published on Tues-
day, said Maxis’ sister company,
also involved in providing cellu-
lar services, is facing 170 billion
Indian rupee (RM10.49 billion)
of non-performing assets, and its
lenders have issued a warning that
it either infuses more funds into
the company or go to the National
Companies Law Tribunal (NCLT).
“The lenders have called a
meeting on Jan 19 to take a final
call on the company’s future,” the
report read. Aircel is 74%-owned
by Binariang GSM Sdn Bhd, which
in turn owns a 64.91% stake in
Maxis.
The news report also noted that
with Aircel planning to shut servic-
Grab buys India-based payment
start-up iKaaz
SINGAPORE: Ride-hailing firm
Grab said it has acquired an In-
dia-based payment start-up,
iKaaz, to help expand its digital
payment platform GrabPay.
Grab said iKaaz’s technology
flexibility and scalability make
it suitable for Southeast Asia’s
diverse payment landscape and
Choon takes a swipe on investing
in cryptocurrencies, calling it a
bubble. “In intrinsic value and
hedge against economic uncer-
tainties, gold is a better [invest-
ment] tool.
“Of course we see this [trend in]
cryptocurrencies as a bubble. The
risks [in cryptocurrencies] are actu-
ally very high,” he said, when asked
if people are dropping gold for cryp-
tocurrencies such as bitcoin.
Alongside several other pre-
cious metals, spot gold has risen
over 2.5% since the beginning of
the year to above US$1,330 per
ounce, thanks to a weaker US
dollar. Meanwhile, bitcoin, hav-
ing experienced a meteoric rise
in value last year, has declined
22% year-to-date to just above the
US$11,100 range.
Poh Kong’s share price closed
unchanged at 64.5 sen yesterday,
with a market capitalisation of
RM264.68 million.
es in six areas in India, lenders are
expecting the company’s financial
metrics to fall further.
“It has been a roller-coaster
journey for Maxis in India. It has
invested close to US$7 billion in
India’s wireless telephony market
but has not made any money,” the
report said.
It also cited an Aircel spokes-
man as saying the promoter is
committed to its India operations.
“Banking sources said if money
were not invested in Aircel by
March to repay its debt, they will
have no choice but to send the
company to the NCLT for reso-
lution under the Insolvency and
Bankruptcy Code,” said the report.
Aircel, it noted, had defaulted
on repayment of interest on its
debt obligations worth 174 bil-
lion Indian rupee, due to its weak
liquidity position, which wors-
ened after the launch of Jio’s free
services in September 2016. Jio
is a long-term evolution mobile
network operator in India.
large unbanked population.
The iKaaz team will join Gr-
ab’s research and development
centre in Bangalore, India.
The company did not dis-
close the deal’s value. Last year,
Grab bought Indonesian on-
line payment start-up Kudo.
— Reuters
8 ST O C KS W I T H M O M E N T U M
BORNEO AQUA HARVEST BHD (+ve)
SHARES in Borneo Aqua Harvest Bhd (fun-
damental: 0.8/3, valuation: 0.3/3) triggered
our momentum algorithm yesterday for the
first time this year.
The counter closed up 2.5 sen or 3.01%
at 85.5 sen, with 3.56 million shares traded,
exceeding its 200-day average volume of
408,015 shares.
Borneo Aqua reported a net loss of RM3.25
million for the second financial quarter
ended Sept 30, 2017 (2QFY18) compared
with a net profit of RM147,000 a year ago
BORNEO AQUA HARVEST BHD
KIA LIM BHD (+ve)
SHARES in Kia Lim Bhd (fundamental:
0.75/3, valuation: 0.9/3) triggered our mo-
mentum algorithm yesterday for the first
time this year.
The counter closed one sen or 2.33% lower
at 42 sen, with 799,200 shares done, higher
than its 200-day average volume of 51,728
shares.
In the third quarter ended Sept 30, 2017
(3QFY17), Kia Lim posted a net profit of
RM524,000 against a net loss of RM1.65 mil-
KIA LIM BHD
KOMARKCORP BHD (-ve)
SHARES in Komarkcorp Bhd (fundamental:
0.95/3, valuation: 0.9/3) triggered our mo-
mentum algorithm yesterday for the first
time this year.
The counter closed up 0.5 sen or 2.38% at
21.5 sen, with 1.63 million shares changing
hands, far exceeding its 200-day average
volume of 306,349 shares.
Komarkcorp saw its net loss widen to
RM3.7 million for the second financial
quarter ended Oct 31, 2017 (2QFY18), from
RM2.34 million a year ago, on severe com-
KOMARKCORP BHD
T HUR SDAY JAN UARY 1 8, 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY
Stocks with momentum were picked up using a proprietary algorithm by Asia Analytica Data Sdn Bhd and first appeared at www.theedgemarkets.com.
Please exercise your own judgement or seek professional advice for your specific investment needs. We are not responsible for your investment decisions.
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Our shareholders, directors and employees may have positions in any of the stocks mentioned.
HOME BUSINESS
on high fatality of grouper fish fry at the
nursery centre.
Its quarterly revenue fell 5.07% to RM5.65
million, from RM5.96 million in 2QFY17.
For its cumulative six months of FY18,
M’sia IT spending to grow
it reported a net loss of RM4.33 million
compared with a net profit of RM582,000
a year ago, while revenue declined
5.7% this year — Gartner
2.92% to RM17.43 million from RM17.96
million. BY NE I LY SYAFI QAH E U S O F F ing projected to grow 9.5% this year, and
At the current share price, Borneo Aqua to continue to grow another 8.4% in 2019,
is trading at 2.9 times its book value. KUALA LUMPUR: Spending on technol- to total US$421 billion.
ogy products and services in Malaysia is Organisations are expected to increase
Valuation score* 0.30 expected to rise 5.7% to RM65.2 billion this spending on enterprise application software
Fundamental score** 0.80 year from RM61.6 billion in the previous in 2018, with more of the budget shifting to
TTM P/E (x) - year, according to research and advisory software as a service (SaaS), as the grow-
TTM PEG (x) - firm Gartner Inc. ing availability of SaaS-based solutions is
P/NAV (x) 1.77
Comparatively, worldwide information encouraging new adoption and spending
technology (IT) spending is forecasted to across many subcategories, such as finan-
TTM Dividend yield (%) -
total U$3.7 trillion this year, up 4.5% over cial management systems, human capital
Market capitalisation (mil) 499.46 2017’s spending of US$3.5 billion, accord- management and analytic applications,
Shares outstanding (ex-treasury) mil 601.76 ing to its latest forecast. according to Gartner.
Beta 0.65 “Global IT spending growth began to Globally, it expects the devices segment
12-month price range 0.59-1.00 turnaround in 2017 with continued growth to grow 5.6% this year to US$704 billion from
*Valuation score - Composite measure of historical return & valuation
expected over the next few years. However, US$667 billion last year, after the segment
**Fundamental score - Composite measure of balance sheet strength uncertainty looms as organisations consid- grew for the first time in two years in 2017
& profitability er the potential impacts of Brexit, currency by climbing 5.7%.
Note: A score of 3.0 is the best to have and 0.0 is the worst to have fluctuations, and a possible global reces- End-user spending on mobile phones is
sion,” Gartner’s research vice-president expected to rise marginally as average sell-
John-David Lovelock said in a statement ing prices continue to creep upward, even
yesterday. as unit sales are forecasted to be lower, it
Notwithstanding this uncertainty, busi- said. PC growth is expected to be flat in 2018.
lion a year ago due to better overall margin. nesses will continue to invest in IT as they Meanwhile, it noted that the impact of
Its quarterly revenue, however, slipped anticipate revenue growth, though their the iPhone 8 and iPhone X was minimal in
2.82% to RM9.24 million from RM9.51 mil- spending patterns will shift, Lovelock said, 2017, as expected. However, iOS shipments
lion in 3QFY16. “Projects in digital business, blockchain, are expected to grow 9.1% this year.
For the cumulative nine months of FY17, Internet of things, and progression from big “Looking at some of the key areas driving
Kia Lim saw its net loss widen to RM3.63 mil- data to algorithms, to machine learning, to spending over the next few years, Gartner
lion from RM3.07 million a year ago, while artificial intelligence (AI), will continue to forecasts US$2.9 trillion in new business
revenue declined 15.06% to RM29 million, be main drivers of growth,” he said. value opportunities attributable to AI by
from RM34.15 million. The research firm highlighted that enter- 2021, as well as the ability to recover 6.2
At the current share price, Kia Lim is trad- prise software continues to exhibit strong billion hours of worker productivity," Love-
ing at 0.37 times its book value. growth, with worldwide software spend- lock added.
Valuation score* 0.90
Fundamental score** 0.75
TTM P/E (x) - Malaysian infrastructure firms among those
TTM PEG (x)
P/NAV (x)
-
0.38 with stronger credit profiles in the region
TTM Dividend yield (%) -
BY C HRI S TO P HE R LI M to mention other potential stresses, such
Market capitalisation (mil) 26.63 as rising interest rates or lower-than-ex-
Shares outstanding (ex-treasury) mil 61.94 KUALA LUMPUR: S&P Global Ratings pected revenues.
Beta 1.03 expects infrastructure companies in Ma- “We believe infrastructure majors with
12-month price range 0.31-0.49 laysia, Singapore, Thailand and the Philip- ratios of debt to Ebitda above 5.5 times
*Valuation score - Composite measure of historical return & valuation
pines to maintain stronger credit profiles could face financial pressure. So could
**Fundamental score - Composite measure of balance sheet strength and lower leverage than their Indian and companies using a higher proportion of
& profitability Indonesian peers. debt [more than three times equity] to fund
Note: A score of 3.0 is the best to have and 0.0 is the worst to have The global rating agency is of the view new investments,” said Dangra.
that credit trends among infrastructure “By our estimates, leverage will rise for
firms in South Asia and Southeast Asia Indonesian infrastructure companies and
could diverge further from one another, fall for Indian firms, on average,” he added.
given plans for substantial investments in S&P noted that countries in the region
petition in the label printing industry and regional infrastructure. are investing heavily to improve the quality
over-reliance on a single large customer. Capital expenditure (capex) burdens will and scale of economic growth.
Its quarterly revenue dipped 7% to be a key driver of ratings in South Asian and “The region’s power utilities will con-
RM14.24 million, from RM15.31 million Southeast Asian infrastructure-related com- tinue to lead capex, largely on the back of
in 2QFY17. panies amid substantial spending plans. high investments in Indonesia and India.
For its cumulative six months of FY18, its “[However,] we do not expect that credit In our opinion, regulatory frameworks will
net loss narrowed to RM3.68 million from profiles will deteriorate for companies op- support returns of utilities in most South
RM9.6 million a year ago, while revenue erating in sectors with strong regulations, Asia and Southeast Asia countries amid
declined 10.41% to RM30.02 million from or those with financial cushions in balance high capital spending. However, Indonesia
RM33.51 million. sheets to withstand higher capex,” said and the Philippines face higher regulatory
At the current share price, Komarkcorp is S&P analyst Abhishek Dangra in a report risks in this sector.
trading at 0.37 times its book value. on “Bridging infrastructure gaps in India “Renewable energy is set for strong
and Asean could create credit divides” growth from a low base, but the finan-
Valuation score* 0.90 yesterday. cial positions of sector players will remain
Fundamental score** 0.95 The rating agency estimates that revenue stretched amid aggressive capex and ear-
TTM P/E (x) - growth of between 4% and 6% on average ly-stage portfolios. We foresee strong de-
TTM PEG (x) - and stable earnings before interest, taxes, mand supporting the transportation in-
P/NAV (x) 0.48
depreciation and amortisation (Ebitda) frastructure sector, but a slower pickup in
margins will support operating cash flows volume for ports,” said S&P.
TTM Dividend yield (%) -
for the 24 infrastructure-related companies The rating agency also believes that
Market capitalisation (mil) 33.07 it rates in South Asia and Southeast Asia. the region’s substantial investments in
Shares outstanding (ex-treasury) mil 157.46 As regulations are uneven across in- infrastructure will support growth and
Beta 1.10 dustries and countries, some sectors are development in the region. “Beyond reg-
12-month price range 0.18-0.25 susceptible to negative surprises that could ulatory risks, in the medium- to long-term,
*Valuation score - Composite measure of historical return & valuation
undermine cash flows, it noted. infrastructure in South Asia and Southeast
**Fundamental score - Composite measure of balance sheet strength “More highly leveraged companies will Asia also faces risk from disruption and
& profitability be more vulnerable to regulatory risks, not technological advancements,” it added.
Note: A score of 3.0 is the best to have and 0.0 is the worst to have
THU R S DAY JA N UA RY 1 8 , 20 1 8 • T HEED G E FINA NCIA L DA ILY
S P Setia to preview
UNO Melbourne
in Kuala Lumpur
It is a freehold development with a 65-storey tower
BY RO S A LYNN POH
KUALA LUMPUR: S P Setia Bhd is
set to preview its sixth Melbourne
project called UNO Melbourne
this weekend at Setia Interna-
tional Centre here.
Acquired in June last year from
Singaporean developer Tong Eng
for A$61 million, UNO Melbourne
is a freehold development with a
65-storey tower comprising some
retail, residential units and a hotel.
“There are not many new
apartment projects coming up
this year and next year. Not many
property developers are able to
get loans from banks and there
are changes in the permit regime.
And that is why we are optimistic
and confident that the property
market will strengthen.
“I expect the apartment mar-
ket in Melbourne to grow even
stronger in 2019,” S P Setia chief
executive officer of Australian
operations Choong Ka Wai said
during a media trip there recently.
The developer is targeting own-
er occupiers, young families, young
couples, investors, downsizers and
residents who frequent Melbourne
for this particular project. The 65-sto-
rey landmark will include 486 units
of apartments and 256 hotel rooms.
The apartment units range
from one bedroom and one study
(about 549 sq ft), two bedrooms
and one bath (about 646 sq ft) to
three bedrooms and one study
(about 1,109 sq ft).
An artist’s impression of UNO
Melbourne. The 65-storey landmark
will include 486 units of apartments
and 256 hotel rooms.
Prices of the units range be-
tween A$499,000 (RM1.58 mil-
lion) and A$1.45 million per unit.
UNO Melbourne includes a
heritage building, of which its
facade will be kept, ground floor
retail on its podium, a childcare
centre, a hotel and apartments.
The project has a gross devel-
opment value of A$395 million
(RM1.25 billion), excluding its
hotel component. It is situated
close to Queen Victoria Market
and major universities.
Choong said it is looking at a
four-star hotel for UNO Melbourne.
“Hotel business is actually very lu-
crative. All four- to five-star hotels
here have 88% to 91% occupancy.
Both Sydney and Melbourne have
higher hotel occupancy rates com-
pared with other states in Austral-
ia,” he added.
Apart from Malaysia, previews
for the development have been
planned for Jakarta, Singapore and
Hong Kong.
So far, Choong said 122 units
have been taken up within three
weeks. Elenberg Fraser, the archi-
tect firm for UNO Melbourne, has
designed at least six other skyscrap-
pers within the vicinity.
The developer’s last project
launch was in the middle of last
year for its iconic Sapphire By The
Gardens on Exhibition Street.
The development features two
towers — a 57-storey residential
tower and Shangri-La Hotel. It is
located across Carlton Gardens, a
Unesco World Heritage site. Sap-
phire By The Gardens will have 500
hotel rooms in one tower and 345
luxury apartments in the other, and
these two towers will be connected
via a sky bridge. So far, 95% of the
apartments have been taken up.
P R O P E RT Y 9
(From left) Jai, Rosewood Hotel Group group chief operating officer Symon Bridle,
WCT Holdings Bhd group managing director Datuk Lee Tuck Fook, Employees
Provident Fund head of private markets Rohaya Mohammad Yusof and WCT
Holdings Bhd deputy managing director Goh Chin Liong at the opening of the
New World Petaling Jaya Hotel in Kelana Jaya yesterday.
WCT, EPF launch New World
Petaling Jaya Hotel
BY WO NG K IN G WA I “This entire development is
called Paradigm Integrated De-
PETALING JAYA: WCT Holdings velopment. The first component
Bhd and the Employees Provi- that was ready was Paradigm PJ
dent Fund (EPF) opened the New and then we had the office tower
World Petaling Jaya Hotel at the called the Ascent, which is doing
Paradigm Integrated Develop- well with a number of multina-
ment in Kelana Jaya yesterday. tional companies there. Those
The hotel is managed by New tenants of the office tower will
World Hotels & Resorts, which is be the natural users of the hotel.
one of the brands under Rose- The hotel is the last component
wood Hotels & Resorts — owned we are adding to the develop-
by Hong Kong-based New World ment,” said Ng.
Development, and is its first prop- He added that there is one
erty in Malaysia. more parcel of land nearby,
The hotel, which is jointly which WCT will develop a resi-
owned by WCT and EPF, shares dential project called “Sapphire
a single 30-storey tower with a Residence” that will be launched
residential component called Az- in the second quarter of this year.
ure Residences. The hotel rooms According to the hotel’s general
are situated from the 19th floor. manager Jai Kishan, New World
The hotel is one component of Petaling Jaya Hotel’s rooms will be
the RM1.8 billion Paradigm inte- released in phases and the full in-
grated commercial development, ventory of rooms will be available
which also includes Paradigm for booking by Chinese New Year.
Mall and The Ascent corporate “The hotel is different from what
office tower. exist in Malaysia and [design-wise]
At the press conference, WCT it is contemporary, alive and with
director of corporate strategy Ng a lot of natural light and colours,”
Chee Kiet revealed that the invest- he said. “It will be a welcoming,
ment for the hotel totalled RM300 residential-style home base to con-
million and he believes it will be duct business and to discover the
a welcome addition to the area. area’s many attractions.”
10 B R O K E R S’ C A L L T HUR SDAY JAN UARY 1 8, 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY

Ta Ann’s SPB stake buy

seen boosting productivity
Ta Ann Holdings Bhd
(Jan 17, RM3.46)
Maintain outperform with an un-
changed target price of RM4.14:
We attended Ta Ann Holdings Bhd’s
analyst briefing on Tuesday and
was furnished with more details
about the recent proposed acqui-
sition of a 30.3% stake in Sarawak
Plantation Bhd (SPB). Manage-
ment explained the rationale of
acquiring the stake as in line with
management’s long-term target
of achieving 100,000ha land bank.
Although SPB’s fresh fruit bunch
(FFB) yield is unattractive, man-
agement believes it is able to bring
in the required technical expertise
to help propel productivity.
Although we reckon that the pro-
posed acquisition is fairly priced,
there are few key issues that Ta Ann
needs to look into. Firstly, it is the
low FFB yield of 12.38 tonnes per its expertise knowledge in the water Ta Ann Holdings Bhd
ha, which is significantly lower than control system and planting terrain,
Ta Ann’s 18 tonnes per ha and SPB’s given that Ta Ann’s strength lies in FYE DEC (RM MIL) 2015A 2016A 2017F 2018F 2019F CAGR (%)
average of 16.13 tonnes per ha. Sec- the peat soil planting area. It will Revenue 1,048.3 1,147.8 1,139.0 1,135.3 1,158.4 2.5
ondly, out of 34,837ha planted area also bring in new machineries to
Gross profit 246.8 184.9 185.4 185.4 189.6 -6.4
under SPB, 23.2% or 8,083ha fall un- improve the productivity of mineral
der the encumbered area or disputed land plantation. Should these plans Pre-tax profit 234.2 175.8 176.6 180.8 189.0 -5.2
area, which could conflict with native be implemented successfully, it is Core net profit 151.0 129.2 128.2 131.4 137.6 -2.3
customary rights. Ta Ann’s manage- projected to see a normalised FFB EPS (sen) 33.9 29.0 28.8 29.5 30.9 -2.3
ment will start initiating talks with the production yield within the next PER (x) 10.3 12.0 12.1 11.8 11.3
locals upon the completion of the two years and may be on a par with DPS (sen) 16.7 9.2 10.0 10.2 10.7
proposed acquisition. It is confident Ta Ann’s own FFB yield by 2020. Dividend yield (%) 4.8 2.6 2.9 2.9 3.1
of seeking a 30% recovery every year The proposed stake acquisition
Sources: Company, PublicInvest Research estimates
from 2018, based on its experience in will require shareholders’ approv-
dealing with the locals on the logging al, which is scheduled to be held
site. If the recovery plan is success- in March. It is believed the compa- sitting on a cash pile of RM283 to 18% for the next two years, bank-
ful, it could contribute a 7% to 22% ny may consider the possibility of million, Ta Ann plans to fund the ing on the young age profile. For the
increase in FFB production to SPB strengthening its stake in SPB if it RM169 million stake acquisition, timber segment, log production vol-
over the next five years. sees potential opportunities arise mainly via bank borrowings, while ume is expected to rise from this year,
About 34,000ha of SPB’s land in the future. Ultimately, Ta Ann the remaining RM39 million will be driven by an increased contribution
is on mineral soil, while the re- is aiming for a controlling stake in funded by its own cash. from plantation logs, while natural
maining 10,000ha is on peat soil. Ta the targeted company. Ta Ann’s FFB production is ex- log production will improve by 10%.
Ann’s management plans to share Despite a low gearing level and pected to see a decent growth of 10% — PublicInvest Research, Jan 17

MISC 1H18 profit seen unexciting Good earnings visibility for Gabungan
AQRS; order book prospects good
on flattish LNG, offshore growth Gabungan AQRS Bhd
(Jan 17, RM1.93)
mentation of the project. We cut our
earnings forecasts by 6% to 13% for
Downgrade to hold with a reduced financial year 2017 (FY17) to FY19.
MISC Bhd MISC Bhd target price (TP) of RM2.14: Ber- Assuming the project kicks off in the
(Jan 17, RM7.44) nard Lim, the chief financial officer fourth quarter of 2018, we estimate
Maintain hold with a target price FYE DEC (RM MIL) 2015 2016 2017F 2018F 2019F (CFO) of Gabungan AQRS Bhd, sold that the One Jesselton project will
(TP) of RM6.85: MISC Bhd’s earn- Net turnover 10,908 9,597 9,796 10,064 10,956 his 11.5% stake in Ganjaran Gembi- contribute 4%/9% of earnings be-
ings will likely be unexciting for the Ebitda 4,319 4,458 4,576 4,573 5,024
ra Sdn Bhd, which holds an 11.8% fore interest and tax in FY18/FY19.
first half of 2018 (1H18). Liquefied stake in AQRS, to Datuk Azizan Jaa- The outstanding order book of
natural gas (LNG) earnings growth Operating profit 2,837 2,453 2,355 2,338 2,566 far, but he retains a 2.1% direct stake RM2.6 billion is equivalent to 11.8
is expected to be flattish year-on- Net profit (rep/act) 2,468 2,582 2,422 2,071 2,217 in the company. He left to pursue times FY16 construction revenue,
year, while offshore earnings may Net profit (adj) 2,797 1,948 2,009 2,071 2,217 other business interests. Following providing good earnings visibility.
decline due to five contracts expir- EPS (sen) 62.7 43.6 45.0 46.4 49.7 the sale, Azizan owns a 97% stake Prospects to grow the order book
ing in 2018/2019. Hence, any in- PER (x) 12.0 17.2 16.7 16.2 15.1 in Ganjaran Gembira. Paul Ow, is good as Gabungan AQRS plans
flection point for earnings growth P/B (x) 0.9 0.9 0.9 0.9 0.8 chief operating officer of Gabun- to tender for the Pan Borneo High-
will depend on tankers; however, EV/Ebitda (x) 9.3 9.0 8.8 8.8 8.0
gan AQRS, disposed of his stake in way Sabah and East Coast Rail
rates may remain low until a pick- Ganjaran Gembira on Aug 21, 2017 Link projects.
up in 2H18. We cut profit after Dividend yield (%) 4.0 4.0 4.5 4.6 5.0 to Azizan. Paul retains a 7.4% direct We trim our revalued net asset
tax forecast slightly on a lower US Net margin (%) 22.6 26.9 24.7 20.6 20.2 stake in the company. valuation (RNAV)/share estimate to
dollar to ringgit exchange rate. We Net debt/(cash) to equity (%) 2.4 15.9 13.7 14.1 17.4 Gabungan AQRS and Tera Capi- RM2.38 from RM2.40 to reflect the
maintain “hold” with an adjusted Interest cover (x) 18.0 18.0 11.8 15.1 13.2 tal Ltd have mutually agreed to fur- lower discounted cash flow valua-
sum-of-parts TP of RM6.85, noting ROE (%) 7.8 7.0 6.3 5.3 5.6 ther extend the expiry date of the tion for the One Jesselton project,
it is below the current price due to Consensus net profit - - 2,220 2,240 2,340 memorandum of understanding partly offset by a lower net debt with
offshore risk (entry price: RM6.40). UOBKH/Consensus (x) - - 0.90 0.92 0.95
signed to jointly develop the One a delay in capital expenditure for the
Global fourth quarter of 2017 Jesselton Waterfront mixed devel- project. The strong outperformance
Sources: MISC, Bloomberg, UOB Kay Hian
(4Q17) spot tanker earnings have opment project in Kota Kinabalu to of Gabungan AQRS’ share price has
resumed the downtrend and were May 31, 2018 from Jan 17, 2018. This narrowed the potential upside to
below profit break-even. This was FSOs. Excluding Gumusut, the could lead to a delay in the imple- 6%. — Affin Hwang Capital, Jan 17
due to an influx of tanker deliver- MISC’s petroleum offshore average firm contract ten-
ies, despite 4Q being a high season fleet has a 47:53 ure is less than four years (lower Gabungan AQRS Bhd
for tanker demand. Recall that
MISC’s petroleum fleet has a 47:53
term:spot ratio. versus Yinson Holdings Bhd and
Bumi Armada Bhd). FYE DEC (RM MIL) 2015 2016 2017E 2018E 2019E
term:spot ratio. The majority of Despite the deliveries of two Revenue 272.5 356.7 467.1 784.7 1,002.6
the fleet are Aframaxes, working in new Seri class LNG vessels in 1H18, Ebitda 16.1 68.4 72.3 111.7 161.9
the US Gulf for lightering services. carriers and shuttle tankers. the operating fleet will increase Pre-tax profit (7.9) 43.6 65.2 81.1 129.1
These Aframaxes are under the While new floating storage and by one vessel to 28 in 2018 (due Net profit (9.7) 22.6 49.5 63.3 100.7
Carribean-US Gulf routes, which offloading (FSO) Benchamas 2 will to the disposal of Aman Bintulu). EPS (sen) (0.9) 5.0 9.6 11.5 17.9
chart high spot rates of US$15,000 start up in 2Q18 (less than US$10 LNG Puteri Firuz is now looking
PER (x) (223.2) 40.7 21.1 17.5 11.3
(RM59,250) to US$25,000. We un- million earnings per annum), this for a recharter (due to a charter
derstand that lightering demand merely offsets the natural decline swap agreement with Puteri Intan Core net profit (9.7) 22.0 26.1 63.3 100.7
had been high during 4Q17 (after of the finance lease income from 1). The 28 operating fleet includes Core EPS (sen) (0.9) 4.8 5.4 11.5 17.9
Hurricane Harvey/Irma), though existing contracts. 2018 will see two idle LNG vessels, two spot and Core EPS growth (%) NA NA 12.0 112.2 55.0
demand had recently normal- expiries of two FSOs, namely Ang- two suspended contracts (Yemen Core PER (x) (223.2) 41.7 37.2 17.5 11.3
ised. Overall, we believe 4Q17 si (extension) and Puteri Dulang LNG). The other offsetting earnings Net DPS (sen) 0.0 0.0 2.0 3.0 4.0
petroleum earnings could likely (firm), and floating production factor is that Seri Balhaf and Seri Dividend yield (%) 0.0 0.0 1.0 1.5 2.0
be flattish quarter-on-quarter, as storage and offloading (FPSO) Balqis should expect to recognise
EV/Ebitda (x) 64.4 14.1 13.4 9.4 6.6
the wider losses on the spot fleet Ruby 2 (firm). 2019 will see the accrued Yemen income of US$9
could be offset by a strong light- firm expiries of FSO Orkid and million per quarter from 2018, Chg in EPS (%) (6.2) (13.1) (10.1)
ering performance, and new time FPSO Bunga Kertas. Out of 14 off- versus US$18 million per quarter Affin/Consensus (x) 1.3 0.8 1.0
charters from very large crude shore assets, MISC has two idle in 2017. — UOB Kay Hian, Jan 17 Sources: Company, Affin Hwang estimates, Bloomberg
THU R S DAY JA N UA RY 1 8 , 20 1 8 • T HEED G E FINA NCIA L DA ILY
Sturdy earnings
growth ahead seen
for VS Industry
VS Industry Bhd
(Jan 17, RM3.05)
Maintain buy with an unchanged
fair value (FV) of RM3.30: We re-
iterate our “buy” recommenda-
tion on VS Industry Bhd with un-
changed forecasts and FV of RM3.30
per share. Our FV is pegged at a cal-
endar year 2018 forecast price-earn-
ings ratio of 15 times. We believe the
selldown of VS Industry shares over
the past few days has created a buy-
ing opportunity for investors. In our
opinion, the knee-jerk reaction was
likely caused by a misconception
about the impact of a depreciating
US dollar on VS Industry’s earnings.
Recall that in fourth quarter of
financial year 2017 (4QFY17), VS
Industry’s key customer introduced
a cost pass-through mechanism
that was meant to eliminate the ef-
fects of currency movements. This
followed Bank Negara Malaysia’s
ruling that mandated all domestic
trades among residents be made in
ringgit. Subsequently, all transac-
tions between VS Industry and the
key customer have been conducted
in ringgit as opposed to US dollar
previously. In a nutshell, unlike
many exporting companies, US
dollar movements have marginal
impact on VS Industry’s earnings.
However, we take note that about
20% of VS Industry’s sales are still
denominated in US dollars. Fac-
toring in the effect of some natural
hedge, our sensitivity analysis sug-
gests that every 2% appreciation/
depreciation in the US dollar would
TM’s tie-up with TNB expected to accelerate
Malaysia’s fibre broadband network reach
Telekom Malaysia Bhd
(Jan 17, RM6.11)
Maintain outperform with an un-
changed target price of RM6.85:
Telekom Malaysia Bhd (TM) and
Tenaga Nasional Bhd (TNB) have
signed a memorandum of under-
standing (MoU) to jointly develop
an implementation plan to deliver
the government’s Nationwide Fiberi-
sation Plan (NFP). The collaboration
is set to capitalise on the combined
strength of both government-linked
companies in terms of reach, infra-
structure, and expertise, which could
enable the most efficient cost struc-
ture, and further accelerate Malay-
sia’s fibre broadband network reach.
The MoU is subject to a definitive
agreement to be signed between
the parties upon finalisation of the
commercial terms.
To recap, the government has
earlier announced the 2017-2019
NFP, which aims to connect some
six million premises, including an
VS Industry Bhd
FYE JULY (RM MIL) 2017
Revenue 3,281.4
Core net profit 164.9
FD core EPS (sen) 14.0
FD core EPS growth (%) 32.2
Consensus net profit - 246.1
DPS (sen) 5.9
PER (x) 20.5
EV/Ebitda (x) 11.9
Dividend yield (%) 1.9
ROE (%) 16.1
Net gearing (%) 34.2
Sources: AmInvestment Bank, company report
VS Industry is also
well prepared for more
contract wins with
its upcoming factory
that could house
up to 12 additional
assembly lines.
improve/reduce earnings by 1%.
From our checks with manage-
ment, operations of VS Industry re-
main on track. Operations in China
are expected to return to the black
in the next quarter, and box-build
orders have started picking up as
additional assembly lines came on
stream in October and November
2017. Therefore, we expect earn-
estimated two million premises in
the rural areas to a fibre network.
A three-tier model would be es-
tablished, where the first tier would
involve utilising TNB’s fibre trunk
network for wholesale backhaul ser-
vices. The second tier would involve
wholesale service provider(s) to offer
last-mile access, while the third-tier
providers would comprise existing
telecommunication companies of-
fering retail services to consumers
and businesses. The plan is in line
with Prime Minister Datuk Seri Na-
jib Razak’s Budget 2017 announce-
ment to double broadband speeds
at lower prices by 2019. The author-
ities subsequently announced the
appointment of Broadnet Network,
in which the ministry of finance will
own a golden share, to build a high-
speed broadband infrastructure in
December last year.
The government’s NFP is set to
expand the country’s fixed-broad-
band infrastructure and benefit the
B R O K E R S’ C A L L 11
YTL Corp’s KL-Singapore
HSR operating company
bid looks promising
YTL Corp Bhd
(Jan 17, RM1.51)
Maintain buy with a higher target
price of RM1.69: We are optimistic
about YTL Corp Bhd’s chances to
bid for the Kuala Lumpur-Singapore
High-Speed Rail’s (HSR) operating
company (OpCo) tender. OpCo is
one of the three main components
of the Kuala Lumpur-Singapore
2018F 2019F 2020F HSR’s structure — project delivery
4,864.7 5,809.1 7,174.9 partner (PDP) and assets compa-
294.0 347.7 424.2
ny (AssetsCo) being the other two.
The OpCo tender, once it is called,
25.0 23.7 28.9 would be more relevant to YTL Corp,
78.3 (5.2) 22.0 in our view, given its experience in
309.4 370.5 the 45%-owned Express Rail Link
10.4 9.9 12.1 Sdn Bhd (ERL) — the sole domestic
11.5 12.1 9.9 HSR service concession built at only
7.8 5.9 4.8 RM35 million per km — arguably the
3.4 3.3 4.0
lowest cost in the region.
We do not expect the OpCo ten- Even excluding Kuala Lumpur-
25.7 22.1 20.8 der to require a significant amount Singapore HSR, YTL Corp is targeting
14.9 nm nm of capital expenditure compared to a significant jump in outstanding order
the AssetsCo, as a typical rail oper- book of up to RM12 billion (RM400
ating and maintenance model does million currently).
ings to go into full swing in second not purchase the rolling stock and
half of FY18 as the group captures would mainly generate fare and non- YTL Corp or 45%-owned ERL would
contribution from the new lines.
VS Industry is also well prepared
fare revenues once the HSR is in op-
erations. As such, the OpCo would
be looking to rake in foreign part-
ners for the Kuala Lumpur-Singa-
for more contract wins with its up- therefore be the most relevant ten- pore HSR tenders, we believe the
coming factory that could house up der for YTL Corp’s ERL, given ERL’s group would be leveraging its exist-
to 12 additional assembly lines. The
group is currently in talks with an
14-year track record in operating
its 57km HSR service (both direct
ing domestic partnerships. ERL is
currently 45% owned by YTL Corp,
American-lifestyle product compa- airport express and transit service). 36% by Lembaga Tabung Haji, 10%
ny to secure new jobs. If awarded, While ERL’s chief executive of- by SIPP Rail Sdn Bhd, and 9% by
we estimate that the contract(s) ficer has highlighted in an interview Trisilco Equity.
would expand VS Industry’s reve- with Nikkei Markets that the com- Even excluding Kuala Lum-
nue by RM1 billion to RM1.5 billion, pany will be tendering for the Kuala pur-Singapore HSR, the group is
and lift the company’s fair value to Lumpur-Singapore HSR’s OpCo, we targeting a significant jump in out-
more than RM4.00 per share. Note also gather that at the group lev- standing order book of up to RM12
that the potential contribution from el, YTL Corp, via its joint venture billion (RM400 million currently).
these contracts has not been fac- (JV) that is vying for a substantial While the press recently reported
tored in our earnings projections. package of the RM8.9 billion Ge- that the group had secured the RM8.9
All in, we believe fundamen- mas-Johor Baru rail double-track- billion Gemas-Johor Baru rail project
tals of the company remain in- ing project, would also be keen to contract (via a JV with SIPP Rail),
tact and sturdy earnings growth bid for the PDP domestic portion of the group has yet to make an official
lie ahead. — AmInvestment Bank the Kuala Lumpur-Singapore HSR announcement, which we suspect,
Research, Jan 17 civil work. Alternatively, securing is pending the finalisation of the de-
the Kuala Lumpur-Singapore HSR tails of the contract.
civil work portion is also a possibil- We trim financial year 2018
ity given YTL Corp’s RM2.4 billion (FY18)-FY20 earnings per share
ERL construction track record.
YTL Corp has now emerged as
forecast due to housekeeping. How-
ever, we raise our revalued net asset
one of the five known JV/consor-
tiums that are bidding for the PDP,
valuation (RNAV)-based TP as we
narrow our RNAV discount from
OpCo, and AssetsCo tenders for the 20% to 10% to reflect the renewed
whole nation as many rural areas Kuala Lumpur-Singapore HSR pro- construction outlook in 2018. —
still do not have high-speed broad- ject. While it remains to be seen if CIMB Research, Jan 16
band. Despite several players pro-
viding broadband services, pricing YTL Corp Bhd
and network quality are still incom-
parable against other countries. The
(RM 2016A 2017A 2018F 2019F 2020F
government has launched several FYE JUNE MIL)
broadband initiative plans to increase Revenue 15,378 14,728 15,738 16,337 16,967
the broadband penetration rate in Operating Ebitda 2,195 2,234 3,393 3,442 3,678
different zones/areas. With the right Net profit 916 796 815 862 1,056
broadband policies and strategies in Core EPS (RM) (0.03) (0.02) 0.08 0.08 0.10
place, we believe the country is on Core EPS growth (%) (3,604) (39) 6 22
the right track to achieve its targets FD core PER (x) NA NA 19.38 18.32 14.97
set out in the 11th Malaysia Plan.
DPS (RM) 0.10 0.05 0.08 0.08 0.10
We are keeping our financial
year 2017 (FY17)/FY18 earnings Dividend yield (%) 6.33 3.33 5.16 5.46 6.68
forecasts unchanged as the defini- EV/Ebitda (x) 20.21 18.21 12.15 12.13 11.53
tive agreement is yet to be finalised. P/FCFE (x) 56.17 NA 20.51 20.36 15.18
Having said that, we are “neutral” Net gearing (%) 107 92 88 84 81
as the positive catalyst (where we P/BV (x) 1.07 1.16 1.16 1.16 1.16
believe TM is set be appointed the ROE (%) (2.23) (1.42) 5.97 6.31 7.73
key second-tier provider under
% change in core
the NFP) could be overshadowed
by the potential cut in broadband EPS estimates (1.18) (1.13) (0.94)
pricing by 2019. — Kenanga Re- CIMB/consensus EPS (x) 1.19 1.09 1.25
search, Jan 17 Sources: Company data, CIMB forecasts
12 H O M E T HUR SDAY JAN UARY 1 8, 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY

Visa-free travel to US not IN BRIEF

Police take statements

from 31 over falling chair

likely soon — envoy

Its embassy in Kuala Lumpur would still work with the Malaysian govt on the matter
ALOR SETAR: The US will not in-
crease the number of countries
under its Visa Waiver Programme
(VWP) in the short term, says US
Ambassador to Malaysia Kamala
Shirin Lakhdir.
However, the US Embassy in
Kuala Lumpur would continue to
work with the Malaysian govern-
ment to get Malaysia listed in the
VWP, she said.
“We will continue to work with
Malaysia, particularly the home af-
fairs ministry and immigration, but,
for the moment, we are not adding
new countries [to the VWP],” Ka-
mala said.
Malaysia expressed its desire to
get listed in the US’ VWP during talks
between Prime Minister Datuk Seri
Najib Razak and then US president
Barack Obama when the latter vis-
ited Malaysia in April 2014.
The programme would enable
Malaysians to enter and stay in the
US without a visa for a maximum of
90 days for tourism or business. Cur-
rently, citizens of 38 countries and
territories are eligible for visa-free
entry into the US under the VWP.
Kamala said if Malaysians were
interested to travel to or study in
the US, the obstacle usually is not
the visa.
“I would like to tell Malaysians,
if you apply for a student visa to the
US, your chances of getting a visa
are 99% [according to last year’s
statistics], and for travel and offi-
cial purposes, the chances are 97%.”
Kamala spoke to reporters after
visiting the American Corner at the
Kedah state library here yesterday.
She also said this year, Kedah
would receive 12 teachers under
the Fulbright English Teaching As-
sistant Programme to guide local
English-language teachers while
serving as cultural ambassadors
for the US and improving Malay-
sian students’ ability in the English
language. — Bernama
that hit teen
KUALA LUMPUR: Police have
recorded statements from 31
persons in an investigation into
a teenage boy’s death after being
hit by a falling office chair. The
object was believed to have been
dropped from an upper floor of
the Seri Pantai flats in Pantai Da-
lam on Monday. City police chief
Datuk Mazlan Lazim said all of
them comprised witnesses and
residents of the 21-storey flat.
“The crime scene investigation
unit has also taken the deoxy-
ribonucleic acid (DNA) sam-
ple from the chair and five wit-
nesses whose statements were
recorded for analysis,” he said in
a statement yesterday. The case
has been classified as murder
under Section 302 of the Penal
Code. He said the victim’s body
was sent to the Universiti Malaya
Medical Centre for post-mortem
but the report was not ready yet.
— Bernama

How will Pakatan Harapan Appeals Court upholds Over 64,000 cops to be
deployed for GE14
fare in GE14? RM1,500 fine on Seri JOHOR BARU: The police will
be deploying more than 64,000
officers and men nationwide to
Politweet's forecast of Peninsular Malaysia
parliamentary seats contested by Setia assemblyman ensure a smooth 14th general
election (GE14), which must
be called by Aug 24 this year.
opposition coalition Bukit Aman Internal Security
PUTRAJAYA: The Court of Appeal fine was raised to over RM2,000. and Public Order Department
has upheld the RM1,500 fine im- Article 64(1)(e) of the Selan- director Datuk Seri Zulkifli Ab-
Peninsular Malaysia Peninsular Malaysia posed by the High Court on Seri gor Constitution says a person is dullah said the police are fully
estimated support, GE13 predicted support, 2017Q1 Setia assemblyman Nik Nazmi Nik disqualified from being a mem- prepared, including in terms
Ahmad for organising the “Black ber of the state legislative assem- of equipment and training, to
505” rally without a permit in 2013. bly if he is convicted of an offence face GE14. He said apart from
A three-man panel — Judges Da- and sentenced to prison for not polling centres, police person-
tuk Wira Mohtarudin Baki, Datuk less than a year and fined no less nel would also be assigned to
38% 39% Yaacob Md Sam and Datuk Abdul than RM2,000 unless he received operations rooms and other
Leaning Leaning Karim Abdul Jalil — unanimously a pardon. locations. — Bernama
44% BN 44% BN
Leaning Leaning dismissed the prosecution’s appeal Nik Nazmi, 35, was fined
Opposition Opposition to increase the fine. RM1,500, in default two weeks’ jail, New mayor for Penang
Justice Mohtarudin, who chaired by the High Court in Shah Alam on Island City Council
18% 17% the panel, said there was no merit Dec 8, 2016 after he pleaded guilty GEORGE TOWN: Penang Island
Fence Fence
Sitters Sitters in the submission made by deputy to the charge of failing to inform the City Council (MBPP) secretary
public prosecutor K Mangai. “The Petaling Jaya police chief within 10 Yew Tung Seang has been ap-
RM1,500 fine imposed by the High days before organising the rally at pointed Penang Island’s new
Court is not manifestly inadequate,” the Petaling Jaya Municipal Council mayor, succeeding retiring Da-
Peninsular Malaysia Peninsular Malaysia he said. Mohtarudin added that Nik Stadium at 8.30pm on May 3, 2013. tuk Maimunah Mohd Sharif on
predicted support, PPBM predicted support, PKR Nazmi, as an elected representa- He paid the fine. Jan 19. State Local Government,
contested seats, 2017Q1 contested seats, 2017Q1 tive, should not act above the law. Mangai pressed for the fine Traffic Management and Flood
The court’s decision means Nik to be raised to RM5,000, saying Mitigation Committee chairman
Nazmi is eligible to contest in the that RM1,500 was manifestly in- Chow Kon Yeow said the Penang
27% upcoming 14th general election adequate and that public interest state executive council had ac-
Leaning (GE14). He could have been dis- would only be served if the fine cepted a recommendation to
Opposition 39%
40% Leaning qualified from contesting if the was deterrent. — Bernama appoint architect Yew as the new
62% Leaning BN mayor. The state government
Leaning Opposition also appointed Addnan Mohd
11% BN
Fence Razali as the new MBPP secre-
Sitters 21%
Fence
Legal firm fails to get order on TNB refund tary, effective Jan 19 as well, he
said here yesterday. — Bernama
Sitters

IPOH: The High Court has dis- method or how it should be made. Rela part of national
missed a legal firm’s application for TNB is still making the payment security system — MB
Peninsular Malaysia Peninsular Malaysia a mandamus order against the en- and consumers do not incur any ARAU: The People’s Volunteer
predicted support, DAP predicted support, AMANAH ergy, green technology and water loss, he said. He also said no man- Corps (Rela) is part of a security
contested seats, 2017Q1 contested seats, 2017Q1 minister and the Energy Commis- damus order could be issued as system component that comple-
sion (EC) in connection with Tena- under the Energy Commission Act ments other uniformed bodies in
ga Nasional Bhd’s (TNB) method 2001, the power of the minister is defending national sovereignty,
17% of rebate payment to consumers. not absolute. said Menteri Besar Datuk Seri
Leaning
BN Judge Datuk Che Mohd Ruzi- Messrs BH Koh, Soong, Zarin & Azlan Man. “We have to under-
35%
Leaning ma Ghazali dismissed the appli- Partners had filed applications for stand Rela’s duties; we cannot
50% BN cation by Messrs BH Koh, Soong, a judicial review and a mandamus belittle their role and efforts be-
20% Leaning
63% Fence Opposition Zarin & Partners on the grounds order to compel the energy, green cause each security body will
Leaning Sitters
Opposition
that the matter was a question of technology and water minister, as have its own specialities. I am
15% law involving other consumers’ the first respondent, to order the EC confident the policymakers, the
Fence interests. (the second respondent), the regu- home ministry, had thought of
Sitters In the judgement, he said the lator for TNB, to reflect the annual the specific task for Rela mem-
court found the rebate payment as rebate in consumers’ January bills, bers when stationing them in the
Source: Politweet, Jan 2018
stipulated by the law was 2.5% a year, instead of adding the amount into Eastern Sabah Security Zone,” he
but the law did not state the payment their deposit. — Bernama said here yesterday. — Bernama
THU R S DAY JA N UA RY 1 8 , 20 1 8 • T HEED G E FINA NCIA L DA ILY
Big business scrambling to
conform with China’s world view
Intolerance for slights shows Beijing’s geopolitical clout
BY A N G U S WHI T L EY
M
ultinational busi-
nesses keen for
a slice of the
w o r l d’s f a s t-
est-growing con-
sumer market are
finding they have to increasingly
conform to China’s world view if they
want to stay in Beijing’s good graces.
Companies from Marriott Inter-
national Inc to Qantas Airways Ltd
are scrambling to fall in line with
China’s stance on the treatment of
territorial disputes, or risk missing
the biggest market opportunity some
of them have ever known. In the past
week, they have been checking the
wording on websites and other ma-
terial for references — some of which
have been in public view for years —
that might cause offence, while also
offering apologies and acknowledge-
ment of China’s sovereignty.
The state can quickly and easily
punish defiant companies, said Stu-
art Orr, a professor at Deakin Univer-
sity’s faculty of business and law in
Melbourne who has studied China
for more than a decade. “I am not
aware of any industries that are so
critical to China that China would
feel the need to accommodate them,”
Orr said. “I don’t think these com-
panies really have a lot of leverage.”
Please remove the punchbowl before markets get any crazier
BY JARED DILLIAN
EVERYONE knows that when the
shoeshine boy gives you stock tips,
it is time to grab the canned goods
and head for the hills. It happened
to me in 2000 at the height of the
dot-com bubble. A San Francisco
cab driver gave me advice on trad-
ing options. I am sure most people
have had similar experiences in
the current bull market. One of my
subscribers says he was upbraided
by a burlesque dancer (do not ask)
for not owning Bitcoin.
There is plenty of goofiness to
go around. You may have heard
that Kodak, after missing out on
digital photography, is attempt-
ing to recover with a blockchain
product and, of course, an initial
coin offering. A Hooters franchisee
started its own cryptocurrency re-
wards programme. Long Island Iced
Tea became Long Blockchain and
the stock soared five-fold in a day.
This is the type of stuff we saw in
1999, when stocks would skyrocket
China is demanding that interna-
tional companies respect the gov-
ernment’s position on long-stand-
ing territorial disputes from Taiwan
to Tibet. Australian airline Qantas,
which flies to Beijing and Shanghai,
said this week it had incorrectly
listed on its website some Chinese
territories as “countries” and the
company was fixing the error. Delta
Air Lines Inc, apparel maker Inditex
SA and Marriott were singled out
last week by Chinese authorities
for similar transgressions.
Foreign corporations “should re-
spect China’s sovereignty and ter-
ritorial integrity, abide by China’s
laws and respect Chinese people’s
national feelings,” Foreign Ministry
spokesman Lu Kang said during a
Jan 12 press conference. “This is the
minimum requirement for any enter-
prise to invest, operate and conduct
cooperation in another country.”
Keeping China happy can be a
daunting exercise, as many compa-
nies are finding. Complying with a
broad crackdown on the categorisa-
tion of disputed lands would require
trawling through decades of online
archives for possible violations, even
for companies that have sold goods
and services in China for years.
A survey of some of the largest
foreign companies doing business
in China suggests many may have
work to do if they want to fully com-
ply with the government. Of the 10
biggest firms generating at least 20%
after companies’ added “dot-com”
to their names. But there are even
bigger, more sinister distortions to-
day. A huge run-up in the price of
Ripple, the cryptocurrency that is
supposed to facilitate financial trans-
fers, left one of its founders sitting
on a fortune that made him one of
the richest five people in the world.
My definition of a bubble is when
people make money out of all pro-
portion to their intelligence or work
ethic, and it seems to apply here.
Of course, no discussion of cryp-
tocurrencies could be complete
without Dogecoin, the token that
was launched as a joke but has at-
tained a US$2 billion (RM7.9 bil-
lion) valuation. That is only slightly
less silly than the virtual cats, the
“Cryptokitties” that people are buy-
ing with Ethereum to the tune of
hundreds of thousands of dollars.
Of course, there is plenty of spec-
ulation to go around in the stock
market, where the Intercontinental
Exchange listed futures on FANG
stocks, because we apparently need
more leverage on Facebook, Amazon.
com, Netflix and Google-parent Al-
phabet Inc than Regulation T mar-
Xi: We will never allow any
person, any group, any
political party, at any time,
in any way, to split from any
part of China’s territory.
Photo by Bloomberg
of revenue from China and its terri-gised for listing Tibet and Taiwan
tories, at least six describe Taiwan as
as nations and called it “an inad-
a country on their websites, accord-vertent error with no business or
ing to data compiled by Bloomberg. political intention.” Starbucks Corp,
The references span press releases, which opens a store in China every
careers pages, business overviews 15 hours, said that while its major
and technical support pages. websites “respectfully reflect” the
China claims democratic Taiwan Chinese territories, the company
as a province, even though the two is updating some minor sites that
sides have been ruled separately forwere not accurate.
almost 70 years. The former colo- Bellamy’s Australia Ltd, the baby
nies of Hong Kong and Macau are food maker that relies on China and
special administrative regions, withHong Kong for almost one third of
greater control over local affairs. its annual revenue, on Tuesday said
Tibet is an autonomous region, it changed the reference to Hong
but home to a movement seeking Kong on its website, noting it took
an end to China’s “occupation.” the action voluntarily.
In many cases, the violations
‘Inadvertent error’ involve lists showing where a com-
Companies say any infringements pany has operations or where an
are simply oversights. Delta apolo- airline flies to. An aviation and trav-
The economy needs you is probably not sustainable.
There is the time that Tony Rob-
rate hikes to curb bins and Pitbull headlined a real es-
speculative excess. tate conference in Toronto, the time
Boost rates 200 basis that a painting went for US$450
million, the time that a wristwatch
points and all this went for US$17 million, the time
crazy stuff goes away. that SoftBank invested US$300 mil-
lion in a dog-walking app, the time
that bonds of a corporate borrower
rated BBB traded at a negative yield
gins allows on individual shares. The in Europe, the craft beer bubble,
exchange-traded fund world is a bit the Instagram “influencer” bubble,
like ice skating, where everyone was and Tiffany’s “Everyday Objects”
satisfied with triple-leveraged ETFs campaign, with a ball of yarn sell-
for years, but now quadruple-lev- ing for US$9,000.
eraged ETFs have appeared on the Some people do not like to trade
scene. Speaking of ETFs, the indus- by anecdote, and you could cer-
try is meeting surging demand for tainly dismiss one or two of these
marijuana stocks by offering a junior anecdotes in isolation, but taken
marijuana growers ETF, in case you together, there is a great big pile
needed a little more volatility than of evidence that financial markets
“large-cap” marijuana stocks provide. have reached the speculative mania
While we are on volatility, you phase. It is a frenzy. In 2009, people
may have heard about the Home were so scarred that they refused to
Depot logistics manager who turned dip a toe back into a market that was
his side job shorting the VIX into run- clearly going higher. Now, people
ning a US$100-million-plus hedge turn up their nose at anything less
fund. That strategy, of course, de- than a 50,000% return, which seems
pends on volatility staying low, which to be easily obtained by buying the
anyone above the age of 30 will tell latest alt-coin.
COMMENT 13
el boom across Asia has increased
online exposure to territory cate-
gorisations that China will not al-
low. The solution to such a prob-
lem can be as simple as changing a
“Countries” heading to “Countries/
Regions.”
Regional status
The greater intolerance for slights
regarding such territories mirrors
China growing economic and ge-
opolitical clout and President Xi
Jinping’s tightening grip on power.
Chinese leaders have expressed
alarm over “separatist” movements
after Taiwan elected a president
from a pro-independence party
and anti-China activists secured
seats on Hong Kong’s legislature.
“We will never allow any per-
son, any group, any political par-
ty, at any time, in any way, to split
from any part of China’s territory,”
Xi said in November 2016, accord-
ing to the official Xinhua news
agency.
Political conflicts are not just
restricted to territorial issues, as
Marriott discovered this week even
after apologising for its website in-
cident. It found itself in an awkward
situation after being notified that
one of its hotels in China displayed
decorative copies of a book that
alleges government abuse of the
banned Falun Gong spiritual group.
The hotel promptly removed the
cardboard copies. — Bloomberg
The US Federal Reserve’s (Fed)
response to all of this has been to
engage in a ridiculous discussion
about inflation targeting. Policymak-
ers are still concerned about the rate
of inflation being too low and are
seemingly oblivious to the signs of
excess speculation all around them.
There was a time when back-to-back
speculative bubbles had so damaged
the economy and investor psyche
that the thought of allowing a third
one to form would have been un-
conscionable — and yet, here we are.
Leave the inflation target aside for
a moment, and the insanity of trying
to create more inflation. The Fed’s
unwritten mandate is to take away
the punchbowl when the party gets
out of hand. Is there really a risk of
plunging the US into a Japan-style
deflationary depression by having
positive real interest rates? I do not
think there is. The economy needs
higher rates, but not because of any
threat of faster inflation. The econ-
omy needs rate hikes to curb spec-
ulative excess. Boost rates 200 basis
points and all this crazy stuff goes
away. People might even keep cash
in a bank account. — Bloomberg
14 W O R L D B U S I N E S S
VW to defend global sales crown
Strong China presence, new SUVs cushion the carmaker from the €17b diesel hit
BY C H R I S TOPH RAU WA L D
FRANKFURT: Volkswagen AG’s
(VW) global deliveries rose to a fresh
record last year as robust customer
demand largely countered the dra-
matic financial fallout from the Ger-
man manufacturer’s diesel-emis-
sion crisis and most likely kept the
German manufacturer ahead of
Japanese rival Toyota Motor Corp.
Worldwide sales of the group’s
cars, trucks and buses jumped 4.3%
to 10.7 million vehicles in 2017,
VW said yesterday in an emailed
statement.
“We are grateful to our custom-
ers for their trust,” its chief execu-
tive officer Matthias Mueller said
in the statement. “We will continue
to do everything we can in 2018 to
meet and exceed the expectations
of our customers all over the world,”
he said. Toyota has forecast about
10.4 million vehicles sales for 2017
and is scheduled to release the final
number later this month.
A strong presence in China and
a slew of new sport utility vehicles
Sweet deal:
Nestle sells US
candy to Ferrero
for US$2.8b
GENEVA: Nestle said on Tuesday
it had agreed to sell its US candy
business to Italy’s Ferrero for 2.7
billion Swiss francs (US$2.8 bil-
lion or RM11.06 billion) in cash
as the Swiss food giant shakes up
its product portfolio.
Ferrero, known for its Tic
Tac, Nutella and Ferrero Rocher
brands but which has tradition-
ally preferred organic growth to
acquisitions, will now be picking
up Crunch, Butterfinger and Baby
Ruth from Nestle.
The sale will make Ferrero the
third-largest confectionary com-
pany in the US market.
According to media reports,
Ferrero competed with major
chocolate manufacturer Her-
shey and private funds, including
Rhone Capital, to secure the deal.
Its executive chairman Giovanni
Ferrero said that after the acquisi-
tion the Ferrero Group “will have
substantially greater scale, a broader
offering of high-quality products to
customers ...” in the US, the world’s
largest confectionary market.
Nestle’s chief executive Mark
Schneider said the deal “allows
Nestle to invest and innovate
across a range of categories where
we see strong future growth and
hold leadership positions, such
as pet care, bottled water, coffee,
frozen meals and infant nutrition.
Nestle has begun to reposi-
tion itself since Schneider, who
previously headed up German
healthcare group Fresenius, took
over the reins of the Swiss firm at
the start of last year. — AFP
(SUVs) like the VW Tiguan and the
Skoda Kodiaq helped cushion an
unprecedented cash outflow of
about €17 billion (RM82.41 bil-
lion) last year that was triggered
by the September 2015 revelation
of diesel-engine emission-control
rigging. The undiminished popu-
larity of its vehicles is vital to gener-
ating the funds Volkswagen needs
Airbus gets early 2018 jump on
rival Boeing with Mexico order
MEXICO CITY: Airbus got an ear-
ly jump on rival Boeing for 2018
with news on Tuesday that low-
cost Mexican airline Volaris has
ordered 80 of its popular A320
planes for a total US$9.3 billion
(RM36.74 billion).
The planned purchase, which
entails deliveries over the next eight
years, comes after the European
Aerospace giant overtook Boeing
last year in terms of aircraft orders,
booking 1,109 against the US com-
pany’s 718.
“The announcement of the in-
vestment in 80 Airbus aircraft by Vol-
aris for a total US$9.3 billion is very
important,” Mexican Communica-
Sugar-for-supplement swap will test Nestlé boss
BY CAROL RYAN
LONDON: Nestlé is parting ways
with LaffyTaffy and Runts. The Swiss
food group agreed on Tuesday to
sell its US candy brands to Italy’s
Ferrero for a sweet US$2.8 billion
(RM11.06 billion) to invest in prod-
ucts with better growth prospects
than junk food. But high valua-
tions for alternatives like vitamin
pills limit new boss Mark Schnei-
der’s opportunities to make Nestlé
a clean-living champion.
Privately owned Italian choc-
olatier Ferrero is paying richly to
bulk up on brands like Butterfinger
and Babyruth. The price is twice the
multiple of earnings before interest,
taxes, depreciation and amortisa-
to emerge from the crisis, while it
also makes hefty investments in
new technologies such as electric
and self-driving cars.
The Wolfsburg-based compa-
ny, which comprises a stable of 12
automotive brands including the
Porsche sports car marque, Scania
heavy-duty trucks and Ducati mo-
torbikes, will seek to sustain sales
tions Minister Gerardo Ruiz said,
accompanied by Volaris executives.
Volaris chief executive officer
Enrique Beltranena said it was “the
biggest plane order signed in the
history” of Mexico.
He said 40 of the planes will be
delivered between 2018 and 2021
and the rest by 2026.
Volaris, created in 2006, has
routes across Mexico and to 78
destinations abroad. Last year, it
transported more than 320,000
passengers.
Airbus said its 2017 performance
for commercial plane deliveries
was a company record, reflecting
15 consecutive years of growth.
tion that Unilever secured in selling
its slow-growth margarine busi-
ness to private-equity group KKR
in mid-December, or roughly 20
times, according to a person close to
the deal. Ferrero gets the third spot
behind Hershey and Mars in a trou-
bled US confectionery market that
is currently growing at just 1% per
year, based on Euromonitor data.
Nestlé’s newish boss will now
plough the proceeds into more at-
tractive and higher-growth prod-
ucts like pet food, bottled water
and consumer healthcare, singled
out for focus during the company’s
strategy day in September. He has
spent US$2.3 billion on probiotics
maker Atrium Innovations and is
the front runner to buy German
T HUR SDAY JAN UARY 1 8, 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY
momentum this year with models
including an updated version of the
VW Touareg SUV, the new Virtus
in South America and add a large
SUV to the line-up of its Spanish
Seat nameplate. The Audi division,
VW’s largest earnings contributor
will roll out its first all-electric mod-
el dubbed E-tron and the new Q8
flagship SUV. — Bloomberg
At the end of 2017, Airbus’ over-
all backlog stood at 7,265 aircraft
valued at US$1.059 trillion at list
prices, the company said.
Its A320 family of short- and
medium-haul jets is a production
mainstay, and Airbus has invested
in new-generation versions of it that
are more fuel-efficient.
In contrast, sales of Airbus’s
flagship giant A380 double-deck-
er planes have been disappoint-
ing, with only 317 ordered since
its launch in 2007. The company
has suggested further A380 pro-
duction could be threatened if key
customer Emirates did not order
any more. — AFP
drugmaker Merck’s healthcare
business, Bloomberg has report-
ed, which makes Seven Seas nu-
tritional supplements.
Still, high valuations make the
sugar-for-supplement swap that bit
trickier to pull off. Take the Merck
consumer-healthcare business.
At a mooted price of US$5 billion,
or 4.7 times sales, the business
would generate a post-tax return
on investment of just 4%, based
on the operating profit margin of
below 25% that analysts reckon
big pharma groups get from their
consumer arms. In the search for
top-line growth, that may seem less
than important. But moderation
is healthy in all things — not just
sugar. — Reuters
IN BRIEF
Thomas Cook partners
with fintech firm for pay-
per-day travel insurance
LONDON: British travel com-
pany Thomas Cook has part-
nered with fintech firm Revo-
lut to launch a “pay-per-day”
travel insurance service which
automatically provides users
with medical cover by tracking
their location through their mo-
bile phones. Revolut, the digi-
tal bank start-up, said it could
pinpoint customers’ location
through its app technology and
automatically turn on the cov-
erage when required, starting
at less than £1 (RM5.46) a day.
“We wanted to create a type
of insurance that uses tech-
nology to help our customers
and only cover you on the days
you actually needed to be cov-
ered,” Revolut chief executive
officer Nikolay Storonsky said
in a statement. Revolut was
founded in July 2015 and has
grown quickly, with 1.2 mil-
lion users globally and around
600,000 in Britain. — Reuters
French group Alstom
3Q sales rise, company
keeps financial targets
PARIS: French manufacturing
group Alstom, which has agreed
to merge its rail operations with
Germany’s Siemens, reported
higher third-quarter (3Q) sales
and kept its 2020 financial tar-
gets. Alstom, in which French
conglomerate Bouygues owns a
stake, said sales rose 6.4% from a
year ago to €1.76 billion (RM8.53
billion). Alstom confirmed its
2020 financial goals, which en-
tail targets of aiming for sales to
grow organically by 5% a year
by 2020, and for an adjusted
earnings before interest and tax
margin of around 7% by 2020.
— Reuters
Heathrow begins consul-
tation on airport expan-
sion, motorway move
LONDON: Heathrow Airport
launched a 10-week public
consultation on its proposed
expansion yesterday, saying it
would ask locals for their views
on issues such as the rerouting
of a major motorway near the
airport and the length of a new,
third runway. Prime Minister
Theresa May backed a US$22
billion (RM86.9 billion) ex-
pansion of the London hub,
which is the biggest airport
in Europe, in October 2016,
after decades of government
indecision. — Reuters
Burberry holiday sales
miss estimates as
Gobbetti pushes change
PARIS: Burberry Group plc’s
holiday sales fell short of es-
timates as its chief executive
officer Marco Gobbetti began
implementing his plan to give
the UK-based trench coat mak-
er a high-fashion facelift. Retail
revenue rose 2% on a compa-
rable basis for the quarter end-
ed Dec 31, the London-based
company said yesterday, miss-
ing the 4% growth predicted by
analysts in a Bloomberg News
survey. — Bloomberg
THU R S DAY JA N UA RY 1 8 , 20 1 8 • T HEED G E FINA NCIA L DA ILY
Uber’s next ride-
share could be in
Southeast Asia;
Grab another
sensible partner
BY CL A R A F E RREI RA - MA RQUES
SINGAPORE: Uber’s next ride-
share could be in Southeast Asia.
After struggling in China and Rus-
sia, the app operator swapped its
businesses there for a stake in Didi
and a joint venture with Yandex.
Another sensible partner would
be Grab, which shares a backer
in SoftBank.
The stretch from Indonesia to
Myanmar is a huge market. With
few barriers to entry and a number
of logistical problems to resolve,
though, Uber rivals such as Singa-
pore-based Grab and Indonesia’s
Go Jek have grown quickly. They
confronted the region’s chaotic
traffic and attracted less affluent
clients. Uber, by comparison, took
longer to accept cash, for example.
All are paying a hefty price to
compete. Grab’s aggressive push
into 168 cities and a lead position
with double Uber’s growth in app
downloads last year, according
to data from App Annie, has not
come cheap. Uber, which is build-
ing out in the region under former
Goldman Sachs executive Brooks
Entwistle, argues that its expan-
sion is more sustainable.
Its broader challenge is its
chief executive Dara Khosrow-
shahi’s plan for an initial public
offering in 2019. In addition to
cleaning up a slew of past scan-
dals, he will have to point to a
stronger income statement. A
wider net loss of some US$1.5
billion (RM5.93 billion) in the
third quarter suggests that there
is much work to be done.
Its broader challenge
is its chief executive
Dara Khosrowshahi’s
plan for an initial
public offering in 2019.
In addition to offloading costly
operations in places like China,
Uber also recently dumped its car
leasing business in Singapore. It
merged with the city state’s larg-
est taxi operator in exchange for
access to more drivers.
India is another costly place
to do business, but one that may
hold greater promise for Uber.
Following a similar playbook
in Southeast Asia as in China,
though, would make sense. In
August 2016, Uber swapped its
Chinese subsidiary for a roughly
20% stake in local rival Didi Chux-
ing. There are risks inherent to
such manoeuvres. Local operators
don’t always stay local. Grab, for
example, could easily go global,
and become an Uber competitor
in, say, Australia, or beyond.
Continuing to burn cash is
hardly sustainable, though. And
regional partnerships at least
provide hedges of sorts. Uber’s
route to the public markets war-
rants a detour in Southeast Asia.
— Reuters
‘Crackdown
ongoing on murky
conglomerates’
China’s banking regulator signals continuation of such efforts
BY JUN LUO
SHANGHAI: China’s banking reg-
ulator vowed to take action against
those who built large financial con-
glomerates through complex own-
ership structures and fraudulent
capital injections, signalling last
year’s government crackdown on
such entities is poised to continue.
Such operations have become
major obstacles to the nation’s ef-
forts to deepen financial reform and
safeguard banking stability, Guo
Shuqing, chairman of the China
Banking Regulatory Commission,
said in an interview published by
the official People’s Daily yesterday.
Some shareholders used banks as
their “ATM machines” and “reck-
‘Hyundai Motor Group to
invest RM85.22b over five years’
SEOUL: Hyundai Motor Group
plans to invest about 23 trillion
won (RM85.22 billion) over the next
five years in areas such as electric
cars, self-driving automobiles and
artificial intelligence, South Korea’s
finance ministry said yesterday.
The announcement comes as
South Korea’s second-largest con-
glomerate, which also includes
Kia Motors, is foraying into newer
growth areas after its sales slumped
last year due to an inadequate prod-
uct line-up in the US and diplomat-
ic tensions with China.
Hyundai Motor Group will also
target hiring about 45,000 people
for the next five years, the ministry
said in a statement after Finance
Minister Kim Dong-yeon’s visit to
Hyundai Motor earlier yesterday.
Besides electric and self-driving
cars, the planned 23 trillion won
will also include investments in
fields such as batteries and hydro-
Morgan Stanley sees ample runway for Asian airport growth
BY ABHISHEK V ISHNOI
SINGAPORE: Asian airport opera-
tors’ earnings, and their share prices,
may be ready to take off.
Rising wealth, improving con-
nectivity and social media pene-
tration will spur spending on inter-
national air travel, Morgan Stanley
analysts including Daniel Lau wrote
in a research report on Tuesday.
Operating profit growth for airports
lessly conducted unfair connect-
ed transactions to line their own
pockets”, he was quoted as saying.
Guo, almost one year into the
job, has launched a campaign to
root out malpractice and strengthen
controls over the banking industry
amid surging risks from poor cor-
porate governance, violation of
lending policies and cross-holding
of financial products. He didn’t
specify in the interview which en-
tities might be targeted.
“The tone of Guo Shuqing’s in-
terview sounds stern,” said Zhou
Hao, an economist at Commer-
zbank AG in Singapore. “The biggest
obstacle for such reforms is that
they hurt the interests of conglom-
erates that profit from the existing
gen energy, as well as start-ups, the
ministry said.
A Hyundai Motor Co spokes-
woman confirmed the hiring plan,
but did not comment on the invest-
ment sum. She said the statement
was discussed with the company
beforehand.
“Global trends are changing
fast,” Hyundai Motor vice-chair-
man Chung Eui-sun said, according
under the firm’s coverage will pick
up to a 9.5% compounded annual
growth rate between 2017 and 2022,
from 6.1% in the last five years.
Morgan Stanley’s key stock picks
include Japan Airport Terminal Co,
Airports of Thailand PCL, Shang-
hai International Airport Co and
Sydney Airport.
While earnings growth will sup-
port valuations, risks include the
loss of duty-free operators, higher
W O R L D B U S I N E S S 15
environment. I do expect China to
take measures that directly tackle
these problems despite the pains.”
Last year, the heads of two well-
known Chinese conglomerates —
Tomorrow Holding Co and Anbang
Insurance Group Co — were de-
tained by authorities.
An affiliate of state-owned Citic
Group agreed to buy a US$1.4 billion
(RM5.53 billion) stake in Hengtou
Securities Co earlier this month, a
move people with knowledge of the
matter said is part of the break-up
of financier Xiao Jianhua’s Tomor-
row Holding. China’s government
has ordered Tomorrow Holding to
divest many of its financial assets as
part of a plan to break up Xiao’s em-
pire, the people said. — Bloomberg
Hyundai Motor
Group will target
hiring about
45,000 people
for the next five
years, South
Korea’s finance
ministry says in a
statement. Photo
by Reuters
to the statement. “We will recruit
better, top-level talent in these new
businesses and develop them go-
ing forward.”
Hyundai Motor said earlier this
month it had invested in Southeast
Asian ride-hailing firm Grab, as it
seeks to expand into the region to
reduce its reliance on China follow-
ing a damaging diplomatic row be-
tween Seoul and Beijing. — Reuters
capital expenditure and rising in-
terest rates, according to the note,
which didn’t include fuel costs on
the list.
Crude oil prices near a three-
year high have started weighing
on some Chinese airline stocks.
Brent crude in London closed
above US$70 (RM276.50) on Mon-
day, threatening to boost the big-
gest operating cost for carriers. —
Bloomberg
IN BRIEF
Qantas named as least
fuel-efficient airline to
fly the Pacific
SYDNEY: Qantas Airways Ltd
is the least fuel-efficient and
burns the most carbon of major
airlines that fly across the Pacif-
ic Ocean, according to a report
by the International Council on
Clean Transportation (ICCT).
Qantas burns an average of
one litre of aviation fuel to fly
a passenger 22km, 64% more
than the 36km achieved by the
region’s two most efficient car-
riers — Hainan Airlines Hold-
ing Co and All Nippon Airways
Co — according to a study by
the researcher that exposed
Volkswagen AG’s emission
cheating. The ICCT looked at
20 airlines that operate flights
from the mainland US to East
Asia and Oceania in 2016. —
Bloomberg
Toyota completes review
of Kobe materials, says
no problems found
TOKYO: Toyota Motor Corp
said yesterday it had com-
pleted an investigation of
parts that were supplied by
Kobe Steel Ltd with falsified
data, and found that they had
caused no problems to its ve-
hicles’ quality or performance.
Kobe Steel admitted in Octo-
ber that it had falsified data on
product quality and specifica-
tions, rocking supply chains
around the world in a fresh
blow to Japan’s reputation as
a high-quality manufacturer.
Toyota in November provided
a partial result of its review of
Kobe materials and had said it
would provide a full update at
a later date. — Reuters
Fast Retailing to launch
Uniqlo brand in Sweden
this year
TOKYO: Japan’s Fast Retailing
Co said yesterday it planned
to launch its Uniqlo clothing
brand in Sweden with a first
store opening in Stockholm this
fall, in a move that would chal-
lenge rival H&M in its home
market. The store would mark
the cut-price brand’s first en-
try in the Nordic region, Ja-
pan’s top apparel retailer said.
Uniqlo, known for its cheap,
high-tech clothes, is hugely
popular in China and other
Asian markets but has fewer
than 70 stores in all of Europe.
— Reuters
Ride-hailing firm Grab
buys India-based
payment start-up
SINGAPORE: Southeast Asian
ride-hailing firm Grab said it
had acquired an India-based
payment start-up, iKaaz, to
help expand its digital payment
platform GrabPay. Grab, which
competes with Uber Technol-
ogies, said the flexibility and
scalability of iKaaz’s technol-
ogy made it ideally suitable for
Southeast Asia’s diverse pay-
ment landscape and large un-
banked population. The iKaaz
team will join Grab’s research
and development centre in
Bangalore, India. — Reuters
16 FO CU S
Centurion Corp’s balancing act
The rapidly expanding student accommodation unit will see increased contribution in the coming years
BY C EC I LI A C H OW
O
n Jan 5, listed prop-
erty companies Cen-
turion Corp and Lian
Beng Group, togeth-
er with the Associa-
tion of Process In-
dustry (Aspri), celebrated the official
opening of Aspri-Westlite Dormitory
Papan.
Construction of the S$200
million project took less than 15
months, with Temporary Occupa-
tion Permit obtained in May 2016.
Aspri-Westlite Dormitory Papan,
which comprises twin 18-storey
blocks with a total of 7,900 beds, is
the first purpose-built workers’ dor-
mitory that incorporates a 40,000
sq ft training centre. Owned and
operated by Aspri, the training cen-
tre is designed to meet the needs
of workers from the process, con-
struction and maintenance (PCM)
industry.
The development has been
billed as the first workers’ dormi-
tory with a “live-learn-play” con-
cept. The aim of Aspri’s training
centre is to upgrade the skills and
productivity as well as quality of
life of the residents at the dormi-
tory. The domitory’s location just
a 12-minute drive from the Jurong
Island checkpoint means greater
Bin (left), Centurion executive director of accommodation business, and CEO Kong
convenience as it reduces commute
time for PCM industry employees
working on Jurong Island.
“This integrated model — Live,
Learn, Play — is an advancement
in how we treat our foreign work-
ers,” said Tharman Shanmugarat-
nam, deputy prime minister and
coordinating minister for econom-
ic and social policies, who was
T HUR SDAY JAN UARY 1 8, 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY
the guest of honour at the official
opening of Aspri-Westlite Dormi-
tory Papan on Jan 5. “It is a far cry
from the norm we saw in foreign
worker dormitories less than a
decade ago.”
With 7,886 out of a total of 7,900
beds taken up today, Aspri-Westlite
Dormitory Papan has an occupancy
rate of close to 100%. “There were
some challenges initially as the oil
and gas sector wasn’t doing too well
when the project was completed,”
relates Kong Chee Min, Centuri-
on Corp CEO. “By engaging plant
owners and embarking on joint
marketing efforts with our partners,
we managed to arrive at 100% oc-
cupancy within a year.”
One of the biggest owner-
operators in workers’ housing
Centurion first entered the pur-
pose-built workers’ dormitory busi-
ness in 2011 with 5,300 beds. The
company is the result of a reverse
acquisition of JM Summit, a firm
that started in 1981 as a manu-
facturer of audio cassette tapes in
Singapore. It was one of the market
leaders in optical storage media
industry when it was listed on the
Singapore Exchange in 1995.
Since its diversification into
the accommodation business in
2011, Centurion has become one
PHOTOS BY ALBERT CHUA/
The Aspri-Westlite
Dormitory on
Jalan Papan has a
capacity of 7,900 beds
and was completed in
May 2016
of the biggest owner-operators of
purpose-built workers’ housing in
Singapore. Today, it has a portfo-
lio of four workers’ dormitories in
Singapore branded Westlite — in
Mandai, Toh Guan, Woodlands and
Jalan Papan — with a total of 26,100
beds. This excludes its fifth prop-
erty, the 8,600-bed Westlite Tuas,
which will close this month as the
lease on the land ends on Jan 30.
Further growth in Malaysia
Outside Singapore, the group has
six Westlite dormitories in Johor,
Malaysia, with a total of 23,700 beds.
In Penang, a 6,600-bed Westlite dor-
mitory is slated for completion in
3Q18 and a second 6,100-bed dor-
mitory is in the pipeline. When the
Penang dormitories are completed
later this year, the Westlite portfolio
of workers’ dormitories in Malay-
sia will have a total of 36,400 beds,
exceeding the Singapore portfolio’s
26,100 beds.
“We do see a bit more growth in
Malaysia, with the two new dormi-
tories in the pipeline in Penang,”
says Tony Bin, Centurion execu-
tive director of accommodation
business.
Although land cost is higher
in Singapore, so are rates per bed
per month, points out Centurion’s
CON T I N UES N EX T PAGE
THU R S DAY JA N UA RY 1 8 , 20 1 8 • T HEED G E FINA NCIA L DA ILY
FO CU S 17

Company to expand worker

accommodation business
beyond Malaysia, Singapore
FROM PR EV I O U S PAG E
Kong. “You’re talking about S$260
(RM780) per bed per month in
Singapore versus RM120 per bed
per month in Malaysia,” he says.
“Therefore, in Malaysia, it has to
be a volume business, while in Sin-
gapore, we differentiate ourselves
through quality.”
According to Centurion’s latest
results (3Q17), its Westlite Wood-
lands has 100% occupancy, while
Westlite Toh Guan and Westlite
Mandai are at 95%.
Slight premium
While other workers’ dormitory
operators have slashed rates to stay
competitive, Westlite’s dormitories
still command “a slight premium”,
given their “uniqueness and val-
ue-add proposition to employers”,
says Centurion’s Bin.
In a report dated Nov 10, 2017,
Phillip Capital investment analyst
Jeremy Teong estimated that the
bed rates at all the Westlite dormi-
tories are at a 10%-to-14% premium
to market rates.
In Malaysia, Westlite dormi-
tories had a portfolio occupancy
rate of 86% as at 3Q17, up from
82% in 2Q17 and 74% in 1Q17,
according to Phillip Capital. The
improvement in occupancy is
caused by two factors: the crack-
down on illegal worker dormitories
that has resulted in more foreign
workers being housed in pur-
pose-built accommodation, and an
increase in the number of workers
allowed in certain sectors. “We can
expect positive rental reversion
in 2018 as policy continues to be
favourable,” says Phillip Capital’s
Teong.
Centurion is looking at expand-
ing the worker accommodation
business beyond Singapore and
Malaysia. In December 2013, the
company announced that it had
acquired a 77,715 sq ft piece of land
in Jakarta, Indonesia, for S$800,000.
The intention was to build 750 apart-
ment units to house workers and
mid-level executives working in the
industrial parks nearby. The pro-
ject “is still on the drawing board”,
says Bin.
In 2014, Centurion indicated
that it was exploring countries in
the Middle East for its worker ac-
accommodation assets with a ca-
pacity of 2,420 beds across the UK,
including Bristol, Manchester and
Newcastle.
In February 2017, Centurion
announced that it was branding its
student accommodation “dwell”.
The company also rolled out a new
mobile app to enhance the expe-
rience of its student residents. The
app can be used by residents to One of the 494 apartments in the 18-storey twin-tower blocks at the Aspri-Westlite Dormitory Papan. Each apartment contains eight
request for maintenance services, bunk beds, an en suite kitchen and shower/toilets.
book facilities and receive notifica-
tions on status of parcel delivery as
well as information on upcoming
events for the student community.
The mobile app was launched
at nine of Centurion’s student ac-
commodation properties — eight
in the UK and one in Singapore.
The sole student accommodation
asset in Singapore is the 332-bed
dwell Selegie, strategically located
near Singapore Management Uni-
versity, LaSalle College of the Arts,
Nanyang Academy of Fine Arts and
Kaplan City Campus.
Last March, Centurion acquired
a freehold site in Adelaide for A$3.5
million to develop a purpose-built
student dormitory with 280 beds.
This marks its second student ac-
commodation asset in Australia.
The total cost of the project, in-
cluding construction, is projected
to be A$45.5 million. The property, The air-conditioned gym is very popular among the residents of the dormitory
located within walking distance
of the University of Adelaide and CENTURION CORP
University of South Australia, is ex- US$89.5 million. The money was
pected to be completed by 4Q18, in used to acquire the six assets in
time for the student intake in the the US. The assets have also been
2019 academic year. branded dwell, and will be man-
In May, Centurion under- aged by dwell US Student Living,
took an asset enhancement pro- a joint venture between Centuri-
gramme at RMIT Village, its first on and a student accommodation
student accommodation asset in manager in the US.
Australia. The A$30 million en- Centurion holds 28.7% of the
hancement works are expected to Centurion US Student Housing
be completed in 4Q18, ahead of Fund. The remainder is owned by
the 2019 academic year. It will in- third-party investors.
clude the building of a new 11-sto-
rey wing, comprising studios and ‘Better balance’
four- and five-bedroom en suite The injection of the US portfo-
apartments that will add 160 new lio brings Centurion’s total stu-
beds and increase the total num- dent accommodation portfolio
ber of beds at RMIT Village by to 5,665 beds. In FY16 ended
35% to 616. December, the latest full-year
results available, workers’ ac-
Entering the US commodation still contributed Dwell College & Crown in New Haven, Connecticut, is a 160-bed student
Last year, Centurion made its to 71% of revenue, while the stu- accommodation building located near Yale University
maiden foray into the US. The com- dent accommodation business
pany announced in July its plan accounted for 27%. Centurion CENTURION CORP

commodation business. “But we
won’t be venturing in very aggres-
sively because we’re evaluating
other risks as well and prioritising
our resources,” says Kong.
Rapid growth in student
accommodation
It was also in 2014 that Centu-
rion ventured into the student
accommodation business with
acquisitions in Australia and the
UK. Centurion acquired its maid-
en student accommodation as-
set, RMIT Village in Melbourne,
Australia, for A$60 million at the
start of 2014. The purpose-built
student accommodation contains
229 apartments and has a capac-
ity of 456 beds. The group now
owns and operates eight student
to buy a portfolio of five student
accommodation assets with a to-
tal of 1,936 beds across four states
— Alabama, Florida, Texas and
Wisconsin — for about US$136
million.
This was followed in August by
its plan to acquire College & Crown,
a student accommodation asset
with 160 units and a capacity of
204 beds near Yale University in
New Haven, Connecticut. The pur-
chase price of the asset was US$70
million. This brought its total US
portfolio to six assets with a total
of 2,017 beds.
In November, Centurion an-
nounced that it had closed its in-
augural private fund, the Centurion
US Student Housing Fund, with
an aggregate committed capital of
expects contribution from student
accommodation to increase in
FY17. “For diversification purpos-
es, we want to see a better balance
of about 50:50,” says Kong.
The profit margin for workers’
accommodation is slightly higher,
owing to the lower operating costs
for workers’ dormitories, which also
need less maintenance and space
per bed, compared with student
accommodation, says Kong.
Even though workers’ accom-
modation provides better margins,
the student accommodation busi-
ness is “far more resilient” and less
affected by shifts in the economic
cycle, notes Kong. “The student ac-
commodation business has greater
scope for expansion and scaleabil- A student apartment at dwell The Towers on State, a 127-unit, 231-bed student
ity.” — The Edge Singapore accommodation near the University of Wisconsin-Madison
18 W O R L D B U S I N E S S
European car sales rise
Peugeot and Renault SUVs were among those that propelled demand in 2017
BY TOM LAVELL & JANA RANDOW
FRANKFURT: European car sales
reached a 10-year high last year as
widening economic growth boosted
consumer confidence, with sport utili-
ty vehicles (SUVs) from French manu-
facturers Peugeot and Renault, Italian
competitor Alfa Romeo and Japanese
rival Toyota propelling demand.
Registrations in 2017 increased
Bitcoin steadies after 26% slump as traders brave volatility
US indoor
farming start-
up eyes China, HONG KONG: Bitcoin continues Kong after slumping as much as 26% “The dilemma is that once you stop
to wobble, trading near US$11,000 on Tuesday, according to Bloomberg pricing Bitcoin and its derivatives as
Japan roll-out (RM43,450) a day after losing a quar- composite pricing. Rival cryptocur- new assets that will head to the moon,
ter of its value as traders sought a floor rencies Ripple and Ethereum swung the pricing model is more conven-
— CEO for pricing amid growing concern reg- between gains and losses.
ulators around the world will move
BY D O M I N I Q U E PAT TON
BEIJING: Ambitious US indoor
farming start-up Plenty Inc is
seeking urban sites for new
farms in Chinese cities as part
of a global drive to set up high-
tech facilities growing organ-
ic vegetables in warehouses
under banks of light-emitting
diode (LED) lights.
Matt Barnard, chief exec-
utive officer (CEO) of the San
Francisco-based firm which
counts Amazon Inc founder Jeff
Bezos and Japanese tech player
SoftBank Corp among its back-
ers, told Reuters yesterday that
China could potentially host
at least 300 of Plenty’s farms.
Plenty is currently hiring in
China and scouting for loca-
tions and distributors in Bei-
jing, Shanghai and Shenzhen,
Barnard said in an interview
in Beijing. The company has
already hired a team in Japan
and has “locked down” a few
farm sites there, according to
Barnard, also a co-founder. He
did not disclose financial or in-
vestment targets for the expan-
sion of the firm which currently
operates just one farm, in San
Francisco, with another due
to open in Seattle in the first
half of 2018.
“We see a massive opportu-
nity to get [a] people product
that tastes better, and also has
health and safety that far sur-
passes anything on the market
today,” Barnard said.
Plenty’s farming model
means growing vegetables and
herbs on vertical towers in-
doors, with hydroponic systems
delivering nutrients to plants
and LED lighting designed to
stimulate rapid growth all-year
round. That could be a big draw
in China, which has less than
a third of the arable land per
person compared with the US.
— Reuters
3.3% to 15.6 million vehicles, the
Brussels-based European Automo-
bile Manufacturers’ Association said
yesterday in a statement. The fig-
ure was the highest since a record
16 million autos were delivered in
2007. December sales dropped 4.8%
from a year earlier to 1.14 million
vehicles, hurt by extra days off for
Christmas versus the 2016 period.
The economy of the countries
BY ERIC LAM The largest digital currency rose research and strategy with Rafiki Cap-
1% to US$10,831 at 12.20pm in Hong ital, said in a Tuesday note to clients.
“Cryptocurrency holders are try-
ahead with new rules to restrict the ing to decide whether to abandon are still trading amid the sell-off.
burgeoning cryptocurrency industry. Bitcoin,” Steven Englander, head of — Bloomberg
GE’s legacy losses reinforce case for break-up
BY TOM BUER KLE
NEW YORK: General Electric’s (GE)
profligate past is haunting its future.
A fresh US$6.2 billion (RM24.5 bil-
lion) post-tax charge relating to rein-
surance — a business the company
exited over a decade ago — shows
the challenge of managing a con-
glomerate. As chief executive officer
John Flannery struggles to reshape
the US$163 billion outfit, it’s anoth-
er reason to consider a break-up.
In the 1980s and 1990s, legend-
ary boss Jack Welch built GE Cap-
ital, the finance unit, into a behe-
moth that threatened to overwhelm
the group’s industrial operations.
Jeff Immelt, who took over from
Welch and recently handed the
torch to Flannery, pruned the fi-
nancial-services arm aggressively
after the 2008-2009 financial crisis.
GE sold or spun off its reinsur-
sharing the euro probably expand-
ed at its fastest rate in a decade last
year, according to European Cen-
tral Bank estimates, and unemploy-
ment was at the lowest since 2009
across the region, including all-time
lows in Germany and Poland. SUVs
gaining customers in 2017 included
Renault SA’s Captur and the Logan
MCV Stepway from the company’s
Dacia division, as well as the newly
tional and much less breathtaking.”
At least some retail investors
ance operations between 2004 and
2006 but remained on the hook for
certain risks, including long-term
care policies. With people living
longer and healthcare costs con-
tinuing to rise, that exposure has
climbed sharply. Hence the latest
hit to earnings and the company’s
plan to bolster its insurance reserves
by US$15 billion over seven years.
The “deeply disappointing”
charge, as Flannery put it on Tues-
day, raises the question of wheth-
er time bombs lurk elsewhere. GE
Capital last year suspended div-
idends to its parent, which had
been projected at some US$4 bil-
lion over 2017 and 2018. Flannery
said the subsidiary can finance it-
self, but with the charge boosting
its debt-to-equity ratio to 7.1 times
from 4.6 times, the risk is now that it
could become a drain on the group.
With GE’s stock down more than
T HUR SDAY JAN UARY 1 8, 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY
introduced Peugeot 5008 and Citro-
en C3 Aircross from PSA Group and
Alfa Romeo’s Stelvio.
The European car market’s growth
is likely to slow in 2018, with Renault
predicting a 1% gain and research
company Evercore ISI foreseeing
“flat” demand. Among the top 10
car sellers in Europe, Toyota Motor
Corp posted the steepest increase
last year, at 12%. — Bloomberg
3% by midday, its decline over the
past 12 months totals 42%, com-
pared with a 23% gain for the S&P
500 Index. The slide has wiped more
than US$110 billion off the mar-
ket capitalisation of what was the
world’s most valuable company at
the turn of the century.
Flannery said he’s considering
all options. Separating businesses
prevents them endangering each
other, making a break-up or sepa-
rate listings for the group’s power,
healthcare and aviation business-
es a serious possibility. GE took a
step in that direction last year by
merging its oil and gas division
with Baker Hughes. Yet analysts at
Cowen reckon GE’s parts are worth
no more than US$15 a share, less
than its current stock price, making
the financial benefits questionable.
For Flannery, breaking up may be
hard to do. — Reuters
IN BRIEF
Ford projects
lower-than-expected
2017 profits
DETROIT: Ford on Tuesday pro-
jected 2017 earnings below the
level expected by analysts and
said results this year would be
even lower. The second-biggest
US car company forecast adjust-
ed earnings per share of US$1.78
(RM7.03), five US cents below
analyst expectations, according
to data released ahead of a pres-
entation by Ford chief finan-
cial officer Bob Shanks at the
Deutsche Bank auto conference
on Tuesday night. Ford blamed
“external headwinds” includ-
ing high commodity costs and
unfavourable exchange rates
for the weaker 2018 forecast,
which sees adjusted earnings
falling to US$1.45 to US$1.70
per share. — AFP
Pearson says
restructuring to support
underlying profit growth
LONDON: Pearson said plans
to cut staff and sell assets would
help the education group eke out
underlying growth in 2018 while
its North American business
continued to weigh on perfor-
mance. Hit by the shift to digital
from paper textbooks, Pearson
has cut thousands of jobs and
launched a rental and online
business following a string of
profit warnings. It said pressures
in North America had contin-
ued as retail partners remained
cautious, with sales in US higher
education courseware down 3%
on an underlying basis, in line
with the lower end of its revised
guidance range. — Reuters
Citigroup reports
US$18b loss on
one-time tax items
NEW YORK/BENGALURU: Cit-
igroup Inc posted an US$18
billion (RM71.1 billion) quar-
terly loss on Tuesday because of
charges related to a new US tax
law, but its adjusted earnings
beat Wall Street expectations
and management signalled that
the bank may soon lift finan-
cial performance targets. The
law, signed by US President
Donald Trump last month, has
made fourth-quarter earnings
a messy ordeal for big banks.
It forces them to take one-time
hits on earnings held abroad
and change the treatment of
deferred tax assets, both of
which affect Citigroup in par-
ticular. — Reuters
Wal-Mart to offer
pill-dissolving product
to battle opioid abuse
NEW YORK: Wal-Mart Stores
Inc, seeking to curb opioid
abuse, will offer its pharmacy
customers a product that dis-
solves unwanted or expired
prescription drugs. Customers
filling a new Class II opioid pre-
scription at any of Wal-Mart’s
4,700 US pharmacies will now
receive a packet of DisposeRx, a
powder that — when mixed into
a pill bottle with warm water —
creates a safe, biodegradable
gel, the company said in a state-
ment yesterday. — Bloomberg
THU R S DAY JA N UA RY 1 8 , 20 1 8 • T HEED G E FINA NCIA L DA ILY
US, allies vow to halt N Korea sanctions busting
BY M I C H E L COMTE & DAVE CLAR K
VANCOUVER/WASHINGTON: The
US and its allies on Tuesday vowed
tougher measures to halt North Ko-
rean sanctions busting, including
naval security operations to prevent
maritime smuggling.
Secretary of State Rex Tillerson
and Canada’s Foreign Minister
Chrystia Freeland, hosts of talks
in Vancouver, urged world powers
US withholds
US$65m from
UN agency for
Palestinians
BY DAVE C L A RK
WASHINGTON: The US held back
US$65 million (RM256.75 mil-
lion) that had been destined for
the UN relief agency for Pales-
tinians on Tuesday, two weeks
after President Donald Trump
threatened future payments.
State Department officials in-
sisted the decision was not taken
to pressure Palestinian leaders,
but because the US wants other
countries to help pay for and re-
form UN Relief and Works Agency
(UNRWA).
But the call came after a be-
hind-the-scenes tussle between
hawks who want to cut all aid to
Palestinians and officials con-
cerned about the humanitarian
and diplomatic fallout.
The State Department said
US$60 million of what had been
a planned US$125 million pack-
age would go through to keep the
agency running, but the rest will
be withheld for now.
“This is not aimed at punishing
anyone,” spokesperson Heather
Nauert told reporters.
“The United States govern-
ment, and the Trump administra-
tion, believe that there should be
more so-called burden-sharing
to go around,” she said.
“We would like other coun-
tries, in fact other countries that
criticise the United States for
what they believe to be our po-
sition vis-a-vis the Palestinians
... to step forward.”
The head of the UNRWA for
Palestinian Refugees, Pierre Kra-
henbuhl, expressed alarm and
immediately called on other UN
members to contribute.
He said the US$60 million
would keep schools and hospi-
tals open for now, but noted that
it was dramatically lower than the
US$350 million Washington paid
over the course of 2017.
“Funding UNRWA or any hu-
manitarian agency is the discre-
tion of any sovereign member
state of the United Nations,” he
said, in a statement.
“At the same time, given the
long, trusted, and historic re-
lationship between the United
States and UNRWA, this reduced
contribution threatens one of the
most successful and innovative
human development endeavours
in the Middle East.” — AFP
to support “maritime interdiction”
measures.
And, along with Japan, South
Korea and the other powers gath-
ered for the high-level meeting, they
recommitted to “the complete, ver-
ifiable and irreversible denuclear-
isation of the Korean Peninsula”.
The warning of robust new tac-
tics to intercept illicit shipments
of nuclear materials or sanc-
tions-busting imports was the most
Bannon refuses to
answer questions
He says he is under orders from the White House
WASHINGTON: Former Donald
Trump adviser Steve Bannon on
Tuesday refused to answer questions
from a congressional committee
probing the president’s campaign
links to Russia, saying he was under
orders from the White House not to.
Bannon was quizzed voluntarily
behind closed doors by the House of
Representatives Intelligence Com-
mittee, the first time he has testified
in the probe investigating whether
Trump’s campaign colluded with
Russia in its bid to influence the
2016 US elections.
It was unlikely to be Bannon’s
last such testimony: The New York
Times and The Washington Post re-
ported late on Tuesday that Bannon
has been subpoenaed by Robert
Mueller, the Justice Department
special counsel investigating the
same issue.
concrete measure to come out of
a two-day meeting to which China
and Russia were not invited.
Many observers, including Bei-
jing and Moscow themselves, had
questioned the value of holding a
meeting of former Korea War allies
to discuss an issue when China’s
support remains the key to diplo-
matic success.
Others had noted a stark differ-
ence in tone between the hawkish
That made Bannon the first per-
son from Trump’s inner circle to re-
ceive a grand jury subpoena from
Mueller in the probe, which is also
looking at whether Trump has tried
to obstruct the investigation.
When appearing before the Intel-
ligence Committee, Bannon refused
to answer a number of questions,
citing “executive privilege” allowing
the president to keep information
from the public.
“Steve Bannon and his attorney
asserted a remarkably broad defi-
nition of executive privilege,” Rep-
resentative Jim Himes, a Demo-
cratic member of the committee,
said on CNN.
“Now remember, it’s the presi-
dent who has the executive privilege
and so they went back, conferred
with the White House, and the White
House said that anything that hap-
Japanese envoy, Foreign Minister
Taro Ono, and South Korea’s more
cautious Kang Kyung-wha, who
said recent inter-Korea talks were a
sign sanctions are already working.
But after the meeting was done,
Tillerson insisted the allies will re-
main united and continue to work
with China and Russia to enforce
UN-backed sanctions and force
Kim Jong-un to negotiate his own
nuclear disarmament. — AFP
pened, any communications that
happened while Steve Bannon was
in the White House or during the
transition, any communications
were off limits,” Himes said.
“There were an awful lot of ques-
tions we weren’t able to answer
based on this novel theory of ex-
ecutive privilege,” he said.
The committee itself eventually
subpoenaed Bannon for refusing to
answer its questions, reports said.
Still, he again baked after the White
House was consulted, said Repre-
sentative Adam Schiff, the top Dem-
ocrat on the committee.
Bannon “got the same instruc-
tion back again. Basically, ‘we don’t
care whether it’s under compulso-
ry process or a voluntary basis —
we’re instructing you, effectively
putting in place a gag rule,’” said
Schiff. — AFP
BEAUTY IN THE
COLD ... In the city of
Yakutsk, Russia, temperatures
in recent days nudged -50˚C.
Never mind how cold it gets,
life goes on as normal at the
outdoor fish market in Yakutsk.
In recent days the temperature is
almost as low as it gets in Siberia,
with Oymyakon — the coldest
village in the world — recording
an official low of -59˚C. Some
residents recorded temperatures
as low as -67˚C at their
properties, in touching distance of
-67.7˚C, the coldest-ever officially
recorded for a permanently
inhabited settlement anywhere
in the world, and the frostiest
in the Northern hemisphere.
Photo by Anastasia Gruzdeva @
Instragram
W O R L D 19
IN BRIEF
Ex-CIA agent arrested with
top secret information
WASHINGTON: US authori-
ties said on Tuesday they had
arrested a former Central In-
telligence Agency (CIA) agent,
Hong Kong resident Jerry Chun
Shing Lee, after discovering he
had an unauthorised notebook
that had the identities of under-
cover US spies. Lee, a natural-
ised US citizen also known as
Zhen Cheng Li, was arrested
late on Monday after he arrived
at JFK International Airport in
New York. The Department of
Justice said Lee, 53, grew up
in the US and served in the US
Army before joining the CIA
as a case officer in 1994. He
served in unnamed overseas
locations and left the agency
in 2007, later apparently tak-
ing a job in Hong Kong. — AFP
Fake medicines
flourish in Africa
ABIDJAN (Ivory Coast): There’s
nothing covert about Roxy — a
huge market in Abidjan sell-
ing counterfeit medicine, the
scourge of Africa and the cause
of around 100,000 deaths annu-
ally on the world’s poorest con-
tinent. Located in the bustling
Adjame quarter of Ivory Coast’s
main city and commercial hub,
the haven for fake medicine has
been targeted time and again
by authorities and stockpiles
burnt. But it resurfaces every
time. “The police hassle us
but they themselves buy these
medicines,” said Mariam, one
of the many mainly illiterate
vendors who hawk everything
from painkillers and antibiotics
to anti-malaria and anti-retro-
viral treatments. — AFP
US Navy commanders
face charges
WASHINGTON: The com-
manders of two US Navy ships
involved in collisions that left
17 sailors dead face charges
including negligent homi-
cide and dereliction of duty,
the Navy said on Tuesday. The
USS John S McCain collided
with an oil tanker in August
2017, killing 10 sailors, while
the USS Fitzgerald smashed
into a cargo ship in June, leav-
ing seven dead. The deadly col-
lisions highlighted leadership
failures and the stresses of fre-
quent deployments across the
Pacific region, but also shined
a spotlight on sailors not pay-
ing proper attention in busy
shipping lanes. — AFP
32 bodies found in mass
graves in Mexico
MEXICO CITY: At least 32 bod-
ies have been found in mass
graves in Mexico’s north-west-
ern state of Nayarit, authori-
ties said on Tuesday. “The first
grave was located on Saturday.
There were nine bodies,” in a
rural area not far from a ba-
nana farm, an official in the
local prosecutors’ office told
AFP on condition of anonym-
ity because the official was not
authorised to speak to media.
Two other graves were detected
nearby,” the source said. — AFP
20 WORLD
Threat of North Korea war
growing despite talks
Tillerson rejected proposal calling for a ‘freeze’ on US-South Korea military exercises
BY N I C K WA D H A MS
VANCOUVER: The US Secretary of
State Rex Tillerson offered a sober-
ing assessment about the possibil-
ity of war with North Korea, saying
advances in that country’s nuclear
programme mean the situation is
“very tenuous”.
“We have to recognise that threat
is growing and if North Korea does
not choose engagement, discussion,
negotiations, then they themselves
will trigger an option,” Tillerson told
HK’s Joshua Wong jailed for blocking clearing work
HONG KONG: Hong Kong activist
Joshua Wong yesterday was jailed for
three months for obstructing clear-
ance of a major encampment during
mass pro-democracy protests in 2014,
the second time he has been impris-
oned over the rallies.
Former top
judges also
criticise India’s
chief justice
BY RUPAM JAIN
NEW DELHI: Four former sen-
ior Indian judges on Sunday
released a letter in support of a
group of Supreme Court judges
who last Friday openly criticised
the way the top court was func-
tioning. The retired judges, in-
cluding a former Supreme Court
judge and a chief justice of the
Delhi High Court, confirmed
they had issued an open letter
to India’s chief justice after four
Supreme Court judges held a
press conference last Friday,
where one of them warned that
the nation’s democracy was un-
der threat because of the way the
top court was being run.
The Supreme Court’s four
sitting judges had criticised the
distribution of cases to judges
and raised concerns about ju-
dicial appointments in the na-
tion’s highest court under Chief
Justice Dipak Misra. “We agree
with the four judges that though
India’s chief justice is the mas-
ter of roster and can designate
benches for allocation of work,
this does not mean it can be
done in an arbitrary manner
in such that sensitive and im-
portant cases are sent to hand-
picked benches of junior judges
by the chief justice,” the former
judges said. — Reuters
reporters on Tuesday, shortly before
North Korea resumed talks with
Seoul on joining next month’s Olym-
pic Games in South Korea.
“We’re at a very tenuous stage in
terms of how far North Korea has
taken their programme,” he said.
Tillerson spoke in Vancouver,
where top diplomats from 20 nations
gathered to explore new ways to en-
force sanctions and choke off North
Korea’s economy. The meeting came
at a time of heightened anxiety over
the threat of war, exacerbated last
Joshua, 21, who had pleaded guilty
to the contempt charge, was already
on bail pending an appeal over a six-
month sentence for another offence
related to the Umbrella Movement.
It comes as some fear prison terms
for leading campaigners are discour-
The Bayeux Tapestry, dating back around 1077, depicts the story of William the Conqueror and the Battle of Hastings in 1066 and is
displayed in Bayeux, in Normandy. Photo by Bayeux Museum
France to loan Bayeux Tapestry to UK — reports
LONDON: The Bayeux Tapestry
could be displayed in Britain after
France agreed in principle to the
historic artwork leaving the coun-
try for the first time in 950 years,
according to British media.
French President Emmanuel
Macron is expected to announce
the proposed loan of the tapes-
try, depicting the Norman Con-
quest of England, during a visit to
Britain last Thursday, according
to The Times. The BBC and The
weekend when officials in Hawaii
erroneously sent out a warning that
a ballistic missile was heading to-
wards the islands.
In his remarks, Tillerson rejected
any proposal calling for a “freeze” on
US-South Korean military exercises
to get talks started, a recommenda-
tion repeatedly made by China and
Russia. Kim Jong-un’s government
has said its weapons programme
is essential to its survival and has
repeatedly said the US’ joint drills
with South Korea threaten it.
aging young people from expressing
their views and muzzling freedom
of speech in the semi-autonomous
city, where there are growing signs
that China is increasing its control.
Fellow activist Raphel Wong yes-
terday was jailed for four months and
Guardian also reported the pro-
posed loan.
Preparations for the relocation
are underway following months
of discussions between cultural
officials in both countries, but it
is contingent on tests showing the
11th-century embroidery can be
moved safely, The Times said.
However, it could be five years
before the tapestry, nearly 70m (230
ft) long and 50cm high, actually ar-
rives on British shores, the paper
T HUR SDAY JAN UARY 1 8, 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY
Tillerson declined to comment
on the possibility of a limited
pre-emptive strike against North
Korea, and also wouldn’t address an
interview with the Wall Street Jour-
nal published last week in which US
President Donald Trump refused to
say whether he’d spoken with Kim.
“The North Koreans know our
channels are open and they know
where to find us,” he said, later add-
ing: “It’s time to talk, but they have
to take the step that says they want
to talk.” — Bloomberg
15 days over the same incident.
Ahead of the hearing, Joshua — the
teenage face of the Umbrella Move-
ment — said he had “no regrets” about
his involvement. “They can lock up
our bodies but they can’t lock up our
minds,” he told reporters. — AFP
added. No decision has been made
about where it would be displayed
during the loan, it said citing Brit-
ish officials.
The Bayeux tapestry, dating back
around 1077, depicts the story of
William the Conqueror and the
Battle of Hastings in 1066 and is
displayed in Bayeux, in Norman-
dy. While it has rarely been moved,
it was displayed in Paris in 1804,
and again briefly at the Louvre in
1945. — AFP
IN BRIEF
China says Taiwan’s
permission to open new
air route not needed
BEIJING: The Chinese govern-
ment said yesterday it does not
need Taiwan’s permission to
open new air routes, after Taipei
complained that a new route
over the narrow Taiwan Strait
that separates the two is a secu-
rity and safety risk. Beijing has
taken an increasingly hostile
stance towards Taipei since the
election two years ago of Taiwan
President Tsai Ing-wen from the
pro-independence Democratic
Progressive Party. There would
be no impact on aviation safe-
ty for Taiwan, Ma Xiaoguang,
spokesman for China’s Taiwan
Affairs Office, said, adding the
route is needed to alleviate pres-
sure on busy routes over south-
eastern China between Hong
Kong and Shanghai. — Reuters
Thai court drops royal
insult case over 16th
century duel
BANGKOK: A Thai court has
dropped a case against an el-
derly historian accused of in-
sulting the monarchy when he
questioned official accounts of
a 16th-century elephant battle.
Thailand’s strict lese majeste law
carries a maximum sentence of
15 years per charge. Sulak Sivar-
aksa, 85, welcomed the decision
by a Bangkok military court to
drop proceedings against him.
However, Sulak was unapolo-
getic over comments made at
a 2014 seminar that took issue
with the official narrative sur-
rounding an elephant-mounted
duel between a Thai king and
Burmese crown prince said to
have taken place more than 400
years ago. — AFP
Indonesia sends military
to help fight health crisis
in Papua
JAKARTA: Indonesia is de-
ploying military paramedics
to carry food and vaccines to
a remote part of its eastern-
most province of Papua, where
reports say at least 61 infants
died from malnutrition and dis-
eases such as measles. Papua
is one of Indonesia’s poorest
provinces despite being rich in
resources and President Joko
Widodo (Jokowi) pledged to
speed its development when
he came to power in 2014. The
health ministry said in a state-
ment it is sending 39 health
workers to remote Asmat re-
gency. — Reuters
Mauritius battens down
as cyclone heads for is-
land nation
PORT LOUIS: Mauritius closed
its main airport and stock ex-
change as the Indian Ocean
island nation braced for a cy-
clone of up to 120km per hour.
Tropical cyclone Berguitta is
about 300km northeast of Mau-
ritius and heading towards it at
a speed of about 7 km per hour,
the country’s meteorological
services said in a statement.
The storm is forecast to make
landfall overnight, it said. —
Bloomberg
THU R S DAY JA N UA RY 1 8 , 20 1 8 • T HEED G E FINA NCIA L DA ILY
F E AT U R E 2 1

Global economy set to do well

But Monetary Authority of Singapore managing director says risks loom this year

T
here are “good rea-
sons” to be optimistic
about global econom-
ic growth this year, but
Monetary Authority of
Singapore managing
director Ravi Menon cautioned that
policymakers will need to watch
out for inflation, protectionism and
financial instability risks — or the
three bears that could derail the
current Goldilocks economy.
Speaking at the UBS Wealth In-
sights Conference held at the Ma-
rina Bay Convention Centre on
Monday, Menon noted that many
analysts have characterised the
healthy growth, low inflation and
easy financial conditions as a Gold-
ilocks scenario: A global economy
that is “chugging along, not too hot,
not too cold”. He said: “The Gold-
ilocks scenario — at least for this
year — is a reasonable baseline
view. But we need to be watchful
of the three bears who may show
up at the front door any time.”
Menon described 2017 as a good
year for the global economy, with
the world gross domestic product
(GDP) estimated to have grown by
3.8%, “significantly higher” than the
3.2% in 2016. “This is the strongest
pace of expansion since the rebound
from the global financial crisis in
2010. All indications are that 2018
will be another good year,” he said,
adding that most major economies
are expected to continue strength-
ening in the coming months.
The International Monetary Fund
expects growth this year to be even
better, said Menon. Spelling out the
factors behind the optimism, he
said that investment expenditure,
which had been largely missing from
the GDP growth numbers since the
global financial crisis, was “coming
back”. Global fixed investments re-
bounded by almost 6% last year,
after contracting in the previous
two years. Global trade growth also
almost doubled to 4% last year, out-
pacing world GDP growth. “This has
arrested a worrying trend since 2011,
with global trade growing slower
than global GDP,” Menon said.
Nevertheless, it is the “broad-
based, geographical spread” of
the economic expansion which is
perhaps the strongest basis for its
durability, he stressed. “The rising
tide is lifting most boats,” he added.
Menon noted that the advanced
economies are leading the charge:
The US economy is expected to
grow at or above trend, while the
eurozone economy was “proba-
bly the most pleasant surprise of
2017”. The Japanese economy also
recorded the longest growth streak
in 16 years, with a resurgence in
exports and investment.
However, the “three grumpy
bears may not be far away”, Me-
non warned. “A striking feature of
the global economy is how subdued
inflation has been despite broad-
based economic expansion and
highly accommodative monetary
policies,” he pointed out. He noted
that based on conventional wisdom,
there should be signs of inflation in
the world economy by now.
Historically, inflation comes from
high-wage growth in a tight labour
market during the late stages of the
business cycle, he said. But while
cyclical conditions are now tight in
major economies, especially in the
US, wage growth has remained at
around 2.5%, below the pre-crisis
average of 3.5%. “Whenever cen-
tral bankers gather these days, this
phenomenon of ‘missing inflation’
is often the main topic of discus-
sion,” he said.
The “first and simplest explana-
tion” is that the headline measure
of unemployment may be un-
Menon described 2017 as a good
year for the global economy, with
the world gross domestic product
estimated to have grown by 3.8%,
‘significantly higher’ than the 3.2%
in 2016. Photo by Reuters
derstating the level of slack in the
economy. Other reasons were the
effects of globalisation and tech-
nology which have dampened wage
growth. “More broadly, the spread
of e-commerce has been eroding
the monopolistic pricing power of
traditional retailers and wholesal-
ers of goods and services — the so-
called Amazon Effect’,” Menon said.
On the risk of protectionism, he
noted that this was the biggest fear
this time last year, in the wake of
populist backlashes against globali-
sation. “The great relief of 2017 was
that this risk did not materialise suf-
ficiently to threaten the global econ-
omy or financial markets,” Menon
said. But he warned against com-
placency, as the underlying causes
for populist anger and support for
protectionism are
deeply rooted.
Turning to the
global financial system, he noted
that it has been made more robust
and resilient by the wide-ranging
post-crisis regulatory reforms.
Nevertheless, there is the risk of
financial instability “mainly due to
the build-up of leverage in recent
years”. In emerging Asia, for exam-
ple, corporate debt issuance has in-
creased as much as US$200 billion
per annum since 2014, three times
the average volume in the preced-
ing five years. In China, the Bank
for International Settlements has
estimated that total leverage in the
system has reached almost 260% of
GDP last year.
Apart from the “three bears”
which could hurt the global econ-
omy, Menon also cited geopolitical
risks such as the situations in the Ko-
rean Peninsula, the South China Sea
and the Middle East. “Unlike fairy
tales which tend to have a ‘happily
ever after’ ending, the real world
is characterised by cycles of
good times and bad times,”
he said. “Let us hope and
work for the former, but
also prepare for the lat-
ter. And the best way to
prepare for bad times is
to avoid excesses and
build up buffers dur-
ing good times.”
— TODAYonline

SEA plastic recyclers hope to clean up after China ban

BY M I C H AEL TAY LOR
WHEN Seah Kian Hoe was 10 years
old, he would jump on the back
of his parent’s small truck during
the school holidays and help them
collect scrap, going door-to-door
around neighbourhoods in Johor.
Taking their haul back to the
family yard, they would spend
hours separating the glass bottles,
aluminium cans, discarded news-
papers and metal.
Seah now employs 350 people to
help him run Heng Hiap Industries
Sdn Bhd, one of Malaysia’s top five
plastic recycling businesses which
processes about 40,000 tonnes of
waste per year from both domestic
and overseas suppliers. “Thirty-five
years ago, it was just scavenging —
a very different era compared with
now,” Seah told Reuters. “I wanted
to get into the recycling business
and do it differently.”
Heng Hiap Industries is just one
of the Southeast Asian (SEA) plas-
tic recycling companies gearing
up to benefit from China’s deci-
sion to ban imports of plastic waste
from the start of 2018. Before the
ban, which shocked many in the
industry, China was the world’s
dominant importer of such waste.
In 2016, it imported 7.3 million
tonnes of waste plastics, valued at
US$3.7 billion, accounting for 56%
of world imports.
Over the past two decades, Chi-
na was keen to suck in as much recycling capacities in an effort to Malaysia, Vietnam, Indonesia and what plastics enter their countries,
plastic waste as possible, helping reduce exports. But industry offi- Thailand are among the SEA coun- and stop illegal practices.
feed its manufacturing expansion. cials say this could take years and tries that have attracted Chinese Greenpeace East Asia plastics
But policymakers took action after a may still not be enough. “If anyone investors in the plastic recycling campaigner Liu Hua wants to see
string of scandals involving unscru- has a problem selling their scrap sector over the past year, keen to companies use less plastic packag-
pulous players in the waste market. plastics right now, they should not fill the void left in China, industry ing in the longer-term, but for now,
Plastic China, an award-winning be complaining — they should be officials said. Most have yet to de- SEA governments should strength-
documentary released in late 2016, looking at themselves because this velop their own domestic recycling en environmental controls to limit
ignited further public outrage by ... has been on the cards for quite collection and public awareness of the spread of hazardous chemical
highlighting the human and envi- a while,” said Damien van Leuven, the issue, but their access to cheap waste and any negative impact on
ronmental costs of the under-reg- founder of Vanden Global, an inter- labour and close proximity to Chi- human health, he said.
ulated, Wild West-style recycling national plastic recycling company na’s manufacturing industries work Steve Wong, executive president
industry. As part of efforts to clean based in Hong Kong. in their favour. of the China Scrap Plastics Associa-
up China’s environment, including Faced with growing stockpiles tion, called for stronger controls on
promoting electric cars and cut- of plastic waste, many British and Time to regulate imports, licence issuance and envi-
ting coal use, Beijing launched a US companies are either burning Preliminary data from the BIR, ronmental inspections of factories.
campaign against harmful “foreign some plastics for energy recovery shared with Reuters, showed im- As awareness rises over the dan-
garbage” last year. Some of the or sending the materials to landfill, ports of plastic waste into SEA are gers of allowing plastic waste to
worst-hit exporters of plastic waste several industry researchers told already rising fast. Due partly to a end up in the sea where it poisons
are based in the US and Britain — Reuters. Both of these methods will ramp-up in shipments in the final fish and can enter the human food
leaving those two countries scram- have a catastrophic impact on the quarter of last year, the BIR esti- chain, recycling capacity will need
bling to find alternative places to environment, they warned. mates that annual imports of plas- to grow considerably worldwide.
take their rubbish. “Do they (China) care about tic scrap into Malaysia jumped to In Malaysia, Seah remembers
“The industry was not prepared the global environment or only 450,000 to 500,000 tonnes in 2017 how his parents were once ashamed
for it,” said Surendra Patawari Bo- their own environment because from 288,000 tonnes in 2016. Vi- they made a living from collecting
rad, a businessman who runs a re- we are land-filling perfectly good etnam’s imports rose by 62% to and reusing scrap, believing it to be
cycling company in Belgium and materials now because of the ac- 500,000 to 550,000 tonnes for 2017, a profession that was not respected.
the US and chairs the plastics com- tions that they’re taking,” said Adi- while Thailand and Indonesia But when his recycling company
mittee at the Brussels-based Bureau na Renee Adler, senior director for showed increases of up to 117% received an international award for
of International Recycling (BIR). “I international relations at the Insti- and 65% respectively. environmental leadership in 2013,
used to say about Europe and the tute for Scrap Recycling Industries The industry fears, however, it helped change their minds. SEA
US, if China gets a cold, we get a in Washington. that a flood of unregulated plas- nations now face a similar battle to
fever, and if China gets a fever, we The labour-intensive job of tak- tic waste to these countries could shift perceptions of the recycling
get pneumonia,” he added. ing bales of plastic waste to be bro- lead to similar problems as those industry.
ken down, cleaned, separated into experienced in China, resulting in “I don’t believe there is a global
‘No complaining’ different plastic resins and finally copy-cat bans. Industry officials plastic pollution problem — there is
Unable to send their plastic waste to made into pellets ready to be re- have urged SEA nations to tight- a global plastic ignorance problem,”
China, Britain and the US are now shaped into new products is now en health and safety regulations, said Seah. “It is a substance with
likely to increase their domestic expected to fall to SEA countries. so that they can properly monitor a lot of hidden values.” — Reuters
22
live it!
T HUR SDAY JAN UARY 1 8, 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY

WELLBEING . THE ARTS . WINE+DINE . STYLE+DESIGN . LEISURE

Personal Japan's sewerage

industry has found
a way to clean up its

ASSISTANT
CO M PI L ED BY CL A RI ECE LEONG
dirty and smelly image:
elaborately designed
and colourful manhole
covers with 12,000 local
varieties nationwide.
Photo by AFP
WORK. LIFE. BALANCE

HEAD over to Pisco Bar tonight for a wild

Latin Night. The party kicks off with a live
band, featuring singer Greg Ramanado. What
with the lively, upbeat music, you will be
dancing and swinging the night away in no
time. Since dancing can get tiring after a
while, you can always take a break to enjoy
the tantalising tapas and refreshing cocktails
available on the night, and then it’s back to
the dance floor to get back into the groove.
Latin Night begins at 9.30pm tonight, at Pisco
Bar on Jalan Mesui, Off Jalan Nagasari, Kuala

HELLO KITTY
Lumpur. For more information, call (03) 2142
2900 or email info@piscobarkl.com.

TRANSLATION is given a new meaning when
artist Hyrul Anuar translates Malay prov-
erbs into works of art. In his new exhibition,
Menjemur Sementara Hari Masih Panas, the
Japan’s severage two phoenixes on its manholes.
He later learnt the imaginary birds
industry’s new way to were a symbol of the town’s rise from a
1945 devastating US air raid and a deadly
clean up dirty, smelly earthquake three years later.
“I sometimes do research on why the
image includes the icon town has that particular design. I’m im-
pressed whenever I find out, it represents
sewerage in society, has released 1.4 million
cards of 293 different covers.
The cards are free but they can only be
obtained through local offices, thus working
as a tourist magnet.
They are numbered in chronological order
and come with the manhole’s exact GPS in-
formation for the convenience of manholers.

Aswara graduate showcases six years of visual
and digital artwork, offering a glimpse into his
career as a digital art director, film director,
animator and artist. The exhibition features
The Visual Series of Malay Proverbs, where
proverbial phrases are given shape and colour
in a digital art project, created with the use of
the Mobile Sketch app on the Samsung Galaxy
Note 3. The exhibition takes place today and
tomorrow, from 10am to 9pm, at White Box,
Publika Shopping Gallery, Jalan Dutamas 1,
Solaris Dutamas, Kuala Lumpur. Admission
is free of charge. For more information, email
hyrulanuar@live.com.
READ Shari Lape-
na’s 2017 novel, The
Couple Next Door. A
young couple attends
a dinner party at their
next-door neighbours’
house, despite not be-
ing allowed to bring
their six-month old
daughter and their
babysitter cancelling
on them at the last
minute. They turn on
the baby monitor and take turns checking on
her every half hour, but at the end of the night
they come home to an ajar front door and an
empty cot. In the ensuing investigation and
desperate hunt for the child, old secrets are
unearthed and unravelled, secrets that put the
family on the verge of further collapse. The
paperback novel is available online at www.
kinokuniya.com.my for RM35.95.
J
the town’s history and culture,” said Mori- “We believe Japanese manholes are cul-
apan’s sewerage industry has moto, who coined the word “manholer” tural products we can boast to the world,”
found a way to clean up its dirty for like-minded people. said Hideto Yamada, a GKP planning official.
and smelly image: elaborately de- Designed manholes cost more but And when a real cover does become avail-
signed and colourful manhole cov- appeal to a Japanese sense of detail, the able, demand is brisk.
ers with 12,000 local varieties na- 48-year-old Morimoto told AFP. The eastern city of Maebashi held a highly
tionwide — including, of course, He has already visited all the designed competitive lottery in October as its offer to
a Hello Kitty design. manholes in his local area. “Now I have sell 10 used manhole covers — 40kg of iron
Appealing to a Japanese love of detail to travel far,” he admits. — at ¥3,000 (RM107.31) each was swamped
and “kawaii” (“cute”), bespoke manhole “It’s treasure hunting for adults.” with more than 190 bids.
covers adorn the streets of 1,700 towns, “Manholers” take pictures of the cov-
cities and villages across Japan and have ers they visit, with the more obsessive Non-slip
spawned a collection craze among so- taking rubbings. The history of decorating manhole covers in
called “manholers”. For others, the interest lies more in Japan dates back 40 years to a bid to improve
The designs represent an instant guide “cover bonsai”, plants growing on soil ac- the image of the sewerage system, according
to a place as they feature its history, folk- cumulated on and around covers. to GKP’s Yamada.
lore or speciality goods: a castle design More than 3,000 people attended a Cover designs must have the same friction
for an ancient town, a bay bridge for a “manhole summit” in western Japan in level no matter which direction humans or
port and Mt Fuji for a city at the foot of November. cars come from, so that people do not slip
Japan’s iconic mountain. over them.
As for Tama City, located in the western‘Under the cover’ This need for friction resulted in placing
sprawl of greater Tokyo, locals are pinning And manhole covers are not simply there extra streaks of clouds, sea waves or tiny stars
their hopes on a more modern Japanese to hide away dirty sewers, enthuses Tet- in the background, giving birth to “condensed
icon — Hello Kitty — to attract tourists, suro Sasabe, who is interested in covers designs”, Yamada said.
alongside the town’s theme park show- for telecoms infrastructure. Overall, there are some 15 million man-
casing much-loved children’s character “I’m interested in why the manhole holes in Japan, of which only a fraction
from the Sanrio company. is there, where it leads to — I’d say I’m have colourful designed covers, carefully
“We’d be happy if people come and take interested in what’s under the manhole hand-painted.
some time for a stroll in our town while covers,” he said. A plain cover costs some US$600
looking for the Hello Kitty manholes,” said He noted that there is a story even to (RM2,370) but a colourful, designed one
Mikio Narashima, who heads the city’s sew- plain covers — such as finding the logos can be double that depending on the number
age system division, after the city installed
of now-defunct companies. of colours used and the level of detail used.
the first of the 10 designed covers. Given their size, the covers cannot eas- The craze has since spread online with
ily be collected in the same way people abundant information on where to find the
‘Treasure hunting for adults’ hoard stamps and coins. best manholes via the hashtag #manhotalk.
Veteran spotter Shoji Morimoto said his But to satisfy collectors’ desire, the An extensive collection can be seen at Ja-
passion for covers was fuelled after notic- private-public GKP network designed to pan Society of Manhole Covers: http://sky.
ing that the central city of Fukui sported promote awareness of the importance of geocities.jp/usagigasi1f/ — AFP

THU R S DAY JA N UA RY 1 8 , 20 1 8 • T HEED G E FINA NCIA L DA ILY
WATCHES BY JOE THOM P SON
A complete guide to the modern era of watchmaking
OVER the course of the last few months,
Hodinkee editor-at-large Joe Thompson has
written an extremely in-depth history of the
watch industry as it has changed and evolved
over the last 50 years or so. The series was
broken out into four parts (OK, technically
five, since one of the sections was actually
two separate stories itself), looking at the
Part 1: The quartz revolution
Our story starts in the last week of De-
cember 1960. The world didn’t know
it yet, but quartz watches were about
to completely take over, changing how
most people keep time on a daily basis.
The Japanese were at the forefront of
this revolution, but the Swiss quickly
realised they had to get in the game
too or risk obsolescence. There’s no
way to overstate the impact of this
first revolution and its effects are felt
through the other three too.
Montblanc expands sports watches in Rolex, Breitling price range
BY T H O M A S MU L I ER
MONTBLANC, the pen-maker that be-
gan making Swiss watches two decades
ago, is shoring up its credentials as it ex-
pands with sports models near the price
range where Rolex Group and Breitling
AG timepieces start.
The brand, owned by Geneva-based
luxury-goods maker Richemont, is intro-
ducing a line of Timewalker sports watch-
es with a mountain-climbing theme this
year after entering the category last year
with a collection based on racing. Already
strong in the €2,000 (RM9,673)-to-€4,000
price bracket, Montblanc is sharpening
its focus on the €4,000-to-€6,000 range,
according to Davide Cerrato, managing
director of its watch business.
Those price segments are becom-
ing more competitive as watchmakers
try to lure buyers by providing better
value, the executive said. Demand for
extremely high-end watches has been
dented in the past half-decade as China
waged a campaign against corruption
live it! 23
WELLBEING . THE ARTS . WINE+DINE . STYLE+DESIGN . LEISURE
PHOTOS BY BLOOMBERG
invention of quartz watches, the explosion Here we have rounded up the entire
of fashion watch brands, the reinvigoration series, so you can catch up on any instal-
of mechanical watchmaking, and the early ment you may have missed or do a quick
days of the smartwatch. Frankly, there is no- little historical review as 2017 closed. The
body on planet earth with a better first-hand entire saga comes in at a little over 15,000
understanding of the people, products, and words, and every single one is worth your
strange little events that have shaped watch- time. Get a cup of coffee (or something
making during this time than Joe. stronger), sit back, and enjoy.
Part 2: The fashion watch revolution
By the time this chapter in the story starts,
quartz watches had all but completely
supplanted mechanical watches on wrists
worldwide. Now major international com-
panies were realising the potential of more
affordable quartz watches to become se-
rious fashion statements, and a number
of important brands — many of them still
around today, in some form or another —
grew to fill this new space.
Part 4: The smartwatch
revolution
For the final chapter of the story, Joe
Part 3: The mechanical watch looks at the smartwatch and how
revolution the very concept of an advanced,
We take the reality of mechanical watch- multipurpose digital timekeeper has
es completely for granted today. It would evolved over the last few decades.
never occur to most modern enthusiasts The road from Dick Tracey’s wrist
that less than 30 years ago it was entirely communicator to the Apple Watch
conceivable that the mechanical watch was anything but a straight path, and
would go extinct before the end of the 20th there were some pretty entertaining
century. Luckily for us, some very smart detours along the way. The best part
people with some very bold ideas came here is that the end is yet to be writ-
along and reinvented what a mechanical ten. — Bloomberg
watch could be in a big way.
and smuggling, which shrank the world’s
biggest market for Swiss watches. Many
brands have cut prices by as much as 30%,
meaning more producers are competing on
the entry level, Cerrato said.
“There is this strong battle in value that
is coming up,” Cerrato said.
Montblanc has also been expanding in the
€20,000-and-higher end of the market with
watches made at the Villeret in Switzerland,
site of Minerva, a 160-year-old producer that
Richemont bought in 2006. Such pieces in-
clude monopusher chronographs that sell
for €25,000 to €30,000, which is a fraction of
the price of those made by Patek Philippe SA
and Richemont’s A Lange & Soehne.
Cerrato said the price range from €6,000 to
€20,000 is one of the toughest segments because
that’s where most Swiss watchmakers aim.
Entering sports watches may also give Mont-
blanc a leg up in the US, where about 80% of
the market is in that segment, Cerrato said.
Montblanc is among the brands present-
ing this week at the Salon International de
la Haute Horlogerie, the annual high-end
watch fair in Geneva. — Bloomberg Montblanc 1858 Collection. Photo by Bloomberg
2 4 S P O RT S
‘Future of tennis’ Kostyuk
to face fourth seed next
The 15-year-old is to meet Svitolina in the third round of the Australian Open
BY DA N I EL H I CKS
MELBOURNE: Teenage sensation
Marta Kostyuk was hailed as the
“future of tennis” yesterday after
she became the youngest Australian
Open second-round winner since
“Swiss Miss” Martina Hingis in 1996.
The 15-year-old was rewarded
with an all-Ukrainian clash against
fourth seed Elina Svitolina as her
fairytale run at the year’s first Grand
Slam continued with a win over
local wildcard Olivia Rogowska
6-3, 7-5.
It had commentators gushing
that Kostyuk was “the future of ten-
nis” as she extended her winning
streak at Melbourne Park to an in-
credible 11 matches after lifting
the Australian Open girls’ title in gentlemen. Fifteen years of age,”
2017 and coming through quali- said former British No 1 Sam Smith
fying this year.
Williams pin
their hopes on
youngest line-up
BY A L A N B A L D WI N
LONDON: Former world
champions Williams have put
their faith in the youngest and
least experienced driver line-
up on the Formula One start-
ing grid, and it could come
back and bite them.
Canadian Lance Stroll (19)
and Russian rookie Sergey
Sirotkin (22), the latter an-
nounced on Tuesday, will
be the rawest pairing to start
a season for the team who
were third overall in 2015 but
have been fifth for the past
two years.
Winners of nine construc-
tors’ and seven drivers’ crowns
between 1980 and 1997, Wil-
liams finished far behind
Mercedes, Ferrari, Red Bull
and Force India last year and
2018 could be even tougher
with McLaren and Renault
likely to be on the rise.
Sirotkin was a development
driver for Renault last year but
was passed over in favour of
Spaniard Carlos Sainz when it
came to choosing a replace-
ment for underperforming
Briton Jolyon Palmer.
Unlike McLaren, who have
two-time world champion
Fernando Alonso and have
just ditched Honda for Re-
nault power after three dis-
mal seasons, Williams now
have no previous grand prix
winners in one of their race
cars. — Reuters
Kostyuk celebrating her victory
against Rogowska during
their women’s singles second
round match on day three of
the Australian Open tennis
tournament in Melbourne
yesterday. Photo by AFP
“This is the future, ladies and
on Australia’s Channel 7. “This is an
Koreas to form unified ice hockey
team in Olympics
BY HYONHEE SHIN & CHRISTINE KIM
SEOUL: The two Koreas will field a
combined women’s ice hockey team
and march together under one flag
at next month’s Winter Olympics in
the South, Seoul said yesterday, after
a new round of talks amid a thaw in
cross-border ties.
North and South Korea have been
talking since last week — for the
first time in more than two years
— about the Olympics, offering a
respite from a months-long stand-
off over Pyongyang’s pursuit of nu-
clear and missile programmes, al-
Abuse victims face convicted Nassar in court
BY GEOF F ROBINS & C HRI S LE FKO W
LANSING (US): Victims of disgraced
former USA Gymnastics team doctor
Larry Nassar (pic) confronted him
at a sentencing hearing on Tues-
day with gut-wrenching emotional
accounts of the trauma and scars
stemming from his sexual abuse.
Nassar, 54, has pleaded guilty to a
total of 10 counts of criminal sexual
conduct in two counties in Michi-
gan, and could face life in prison.
His best-known victims of sexu-
al abuse under the guise of medi-
cal treatment were members of the
Olympic gold-medal winning gym-
nastics team including stars such as
Simone Biles, Aly Raisman, McKayla
Maroney and Gabby Douglas.
But Tuesday’s hearing revealed
the extent of his crimes: More than
incredible story. This is the future of
tennis on your screen.”
Before the start of this week Ko- seed Peng Shuai in straight sets in
styuk’s total career prize money was just 57 minutes. — AFP
though Japan urged caution about
the North’s “charm offensive”.
The two Koreas will compete as a
unified team in the Olympics for the
first time, though they have joined
forces at other international sports
events before.
North Korea will send a delega-
tion of more than 400, including 230
cheerleaders, 140 artists and 30 taek-
wondo players for a demonstration,
a joint press statement released by
Seoul’s unification ministry said,
adding the precise number of ath-
letes will be hammered out after
discussions with the IOC (Interna-
REUTERS
100 victims have come forward, in-
cluding his one-time family babysit-
ter and athletes in several women’s
sports programmes at Michigan
State University, where he worked.
“You used my body for six years
for your own sexual gratification,”
Kyle Stephens, Nassar’s former
T HUR SDAY JAN UARY 1 8, 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY
US$6,733 (RM26,595.35), but she
already has plans for the bumper
US$142,500 pay day she will earn
even if she loses to Svitolina in the
third round.
“Maybe I will get presents for my
family, first of all, of course, because
I have big family,” she said. “And
then for myself a bit. Yeah.”
Playing since the age of five and
watched by tennis-playing mum
and coach Talina Beyko, who once
reached 391st in the world, in her
player’s box on Margaret Court Are-
na, Kostyuk said she had been used
to setting new standards.
“I think I broke some records
every year so I feel OK about it,”
she said.
In the first round she had dis-
mantled Chinese No 1 and 25th
tional Olympic Committee).
Prior to the Games, the sides will
carry out joint training for skiers at
the North’s Masik Pass resort and a
cultural event at the Mount Kum-
gang resort, for which Seoul officials
plan to visit the sites next week.
The delegation is expected to
begin arriving in South Korea on
Jan 25, the statement said.
Seoul had proposed a joint ice
hockey team, which triggered an
angry response from athletes in
the South suddenly being told they
may have to play alongside total
strangers. — Reuters
babysitter, told a hushed Lansing,
Michigan, courtroom. “That is un-
forgivable.”
Addressing the slight, bespecta-
cled Nassar directly, Stephens said:
“Little girls don’t stay little forever.
“They grow into strong women
that return to destroy your world.”
Former gymnast Alexis Moore
said: “He betrayed my trust, took
advantage of my youth and sexu-
ally abused me hundreds of times.”
“Are you remorseful for your
actions and all the lives you have
changed forever?” Moore asked the
former doctor in court.
Dressed in blue prison garb, Nas-
sar spent most of the time looking
down as the women and girls spoke,
occasionally holding his head in his
handcuffed hands or wiping away
tears. — AFP
IN BRIEF
Ex-Wallaby Smith
arrested in Tokyo on
‘cabbie assault’
TOKYO: Legendary Wallaby
George Smith has been arrest-
ed in Tokyo, police said yes-
terday, after he allegedly re-
fused to pay his taxi fare and
then assaulted the driver. The
37-year-old flanker is suspect-
ed of running away from a taxi
without paying roughly ¥10,000
(RM357.50) for the fare near
his home in the small hours
of Dec 31, according to Tokyo
Metropolitan Police. The driver
chased Smith, who then alleg-
edly punched the driver in his
face, causing “injuries that re-
quire two weeks to fully heal,”
police spokesman Naoto Waka-
bayashi told AFP. Smith, who is
now playing for Japan’s Suntory
Sungoliath team, was drunk at
the time and was arrested on
the spot by a police officer, the
spokesman said. — AFP
Former McLaren boss
Whitmarsh takes on
new F1 role
LONDON: Former McLaren
team boss Martin Whitmarsh
is returning to Formula One
(F1) in a temporary role ad-
vising the sport’s governing
body on cost control measures.
A spokesman for the Interna-
tional Automobile Federation
said on Tuesday that the Briton
had been invited to help them
“in defining financial regu-
lations for fair and sustaina-
ble competition.” Whitmarsh
left former world champions
McLaren, a team he had been
with for 25 years, in 2014 when
his predecessor Ron Dennis
resumed control. Dennis has
since also left McLaren and
sold his shares. — Reuters
Karlovic becomes oldest
man in third round of
Australian Open
MELBOURNE: Croatia’s Ivo Kar-
lovic became the oldest man
to reach the third round of the
Australian Open for 40 years
when he edged Japan’s Yuichi
Sugita in five sets in withering
heat yesterday. Karlovic, 39 next
month, served down 53 aces as
he came through 7-6(3) 6-7(3)
7-5 4-6 12-10 in four hours 33
minutes — the longest match
in the tournament so far. He
will face Italian Andreas Seppi
in round three when he will be
the oldest player to contest that
round since Ken Rosewall, aged
44, in 1978 when the draw was
only 64. — Reuters
Chinese fans round on
Tevez after holiday barb
SHANGHAI: Furious Chinese
football fans branded Carlos
Tevez shameless and “a rat”
yesterday after the Argentine
striker described his ill-fated
spell at Shanghai Shenhua as a
“holiday for seven months”. The
33-year-old struggled for form
and fitness during a disastrous
stint in China, where he was
among the best-paid players in
the world on a reported week-
ly salary of €730,000 (RM3.53
million). — AFP
THU R S DAY JA N UA RY 1 8 , 20 1 8 • T HE ED G E FINA NCIA L DA ILY
Markets 2 5
BURSA MAL AYSIA MAIN MARKET

Bursa Malaysia YEAR

HIGH
YEAR
LOW
DAY
HIGH
DAY
LOW
CODE COUNTER CLOSING
(RM)
+/–
(RM)
VOL
(‘000)
VWAP*
(RM)
PE#
(X)
DY
(%)
MKT CAP
(MIL)
0.495 0.080 0.400 0.330 9954 AKNIGHT 0.350 0.010 243.8 0.365 — — 20.3
Sectorial Movement 1.694 0.850 0.970 0.960 2674 ALCOM 0.970 0.005 112 0.966 8.39 21.13 130.3
1.070 0.325 0.595 0.580 4758 ANCOM 0.590 UNCH 260.3 0.585 7.10 — 129.2
INDICES CLOSE +/- %CHG INDICES CLOSE +/- %CHG 3.980 2.170 3.630 3.560 6556 ANNJOO 3.560 -0.050 887.9 3.581 9.15 2.95 1,918.7
0.551 0.075 0.095 0.090 9342 ANZO 0.090 -0.005 2405.3 0.091 150.00 — 79.3
KLSE COMPOSITE 1,828.63 2.60 0.14 TECHNOLOGY 40.67 -0.35 -0.85
1.160 0.855 — — 5568 APB 0.930 — — — 27.51 6.99 105.0
KLSE INDUSTRIAL 3,338.35 -18.07 -0.54 FTSE BURSA 100 12,848.37 12.55 0.10 4.090 3.281 3.820 3.810 5015 APM 3.820 -0.030 1.1 3.811 18.04 3.80 770.1
CONSUMER PRODUCT 656.93 -0.92 -0.14 FTSE BURSA MID 70 16,420.29 -3.14 -0.02 1.194 0.865 0.890 0.870 7214 ARANK 0.870 -0.020 168 0.880 7.02 3.74 104.4
1.290 0.676 1.070 1.050 7162 ASTINO 1.070 UNCH 1108.3 1.061 7.62 0.93 293.3
INDUSTRIAL PRODUCT 181.42 -0.64 -0.35 FTSE BURSA SMALL CAP 17,528.90 -150.53 -0.85
1.185 0.483 1.020 0.995 7099 ATTA 0.995 -0.015 1120.6 1.004 4.21 7.94 153.7
CONSTRUCTION 320.54 -0.72 -0.22 FTSE BURSA FLEDGLING 19,219.45 -157.22 -0.81 0.625 0.200 0.230 0.230 7181 ATURMJU 0.230 0.005 45.6 0.230 — — 14.1
TRADE & SERVICES 240.16 0.10 0.04 FTSE BURSA EMAS 13,191.73 3.69 0.03 2.522 1.710 2.150 2.110 8133 BHIC 2.110 -0.010 24.5 2.130 5.86 2.37 524.2
0.570 0.350 0.405 0.395 7005 BIG 0.400 0.005 51 0.400 — — 19.2
KLSE FINANCIAL 17,246.20 55.40 0.32 FTSE BUR M’SIA ACE 6,806.18 25.42 0.37
0.580 0.115 0.460 0.450 7187 BKOON 0.450 -0.010 542.9 0.454 140.63 — 129.0
KLSE PROPERTY 1,224.35 -8.51 -0.69 FTSE BUR EMAS SHARIAH 13,618.51 -21.92 -0.16 1.091 0.742 0.815 0.810 0168 BOILERM 0.815 UNCH 150.8 0.811 18.78 1.84 420.5
KLSE PLANTATION 8,075.23 -20.45 -0.25 FTSE BUR HIJRAH SHARIAH 14,916.18 11.35 0.08 2.144 1.200 — — 6297 BOXPAK 1.290 — — — — — 154.9
1.531 1.080 1.100 1.090 5100 BPPLAS 1.090 -0.010 37 1.094 15.31 7.34 204.6
KLSE MINING 932.15 -16.22 -1.71 FTSE/ASEAN 40 12,020.64 -25.09 -0.21
0.316 0.237 0.270 0.255 9938 BRIGHT 0.260 -0.015 601 0.261 — — 53.4
0.800 0.285 0.720 0.720 7221 BSLCORP 0.720 0.015 54 0.720 20.63 — 70.6
0.365 0.230 0.260 0.250 7188 BTM 0.250 -0.010 90.6 0.254 46.30 — 32.1
3.489 2.660 — — 5105 CANONE 2.910 — — — 7.90 1.37 559.2
0.035 0.005 — — 5229 CAP 0.010 — — — — — 13.6
2.132 1.701 1.780 1.770 7076 CBIP 1.780 UNCH 22.7 1.775 9.75 3.37 958.1

Bursa Malaysia Main Market 2.350 1.023 2.230

1.750 1.380
1.240 1.020 1.100
—
2.150
—
1.100
2879
8435
8044
CCM
CEPCO
CFM
2.160
1.530
1.100
-0.070

UNCH
—
221.6
—
2
2.178
—
1.100
43.81
—
—
6.94
—
—
362.2
68.5
45.1
1.896 1.557 1.820 1.800 5007 CHINWEL 1.800 -0.010 341.9 1.813 10.32 3.78 539.2
YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP 2.650 1.651 2.560 2.530 5797 CHOOBEE 2.530 0.010 60.1 2.533 7.75 2.37 278.1
HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL) 1.150 0.940 — — 8052 CICB 1.070 — — — 25.54 — 53.5
CONSUMER PRODUCTS 0.075 0.040 0.055 0.050 7018 CME 0.055 UNCH 1150.5 0.055 — — 26.7
0.725 0.380 0.460 0.430 7120 ACOSTEC 0.450 0.010 682.7 0.452 — — 80.0 4.628 3.300 4.120 4.090 2852 CMSB 4.120 UNCH 2180.1 4.107 17.63 1.53 4,426.4
5.800 4.389 5.590 5.500 7090 AHEALTH 5.500 UNCH 19.2 5.530 16.77 2.09 644.3 0.600 0.300 0.535 0.530 7986 CNASIA 0.530 -0.020 7.5 0.533 1.03 — 24.1
24.759 13.053 21.040 20.940 2658 AJI 21.040 0.080 59.8 21.02 6.84 2.00 1,279.2 1.507 1.141 1.360 1.350 5071 COASTAL 1.350 -0.030 46 1.360 14.53 1.48 717.7
0.390 0.220 0.250 0.250 7051 AMTEK 0.250 -0.080 11.2 0.250 — — 12.5 1.150 0.670 0.855 0.800 7195 COMCORP 0.810 -0.050 3912.6 0.823 10.56 — 113.4
5.202 4.400 4.550 4.550 6432 APOLLO 4.550 UNCH 13.7 4.550 23.60 5.49 364.0 1.220 0.670 1.130 1.090 2127 COMFORT 1.100 -0.010 3428.4 1.106 16.87 — 614.7
1.110 0.800 0.955 0.900 7722 ASIABRN 0.955 UNCH 6 0.909 — — 75.6 2.147 1.470 1.580 1.540 5094 CSCSTEL 1.550 -0.020 187.1 1.554 11.18 6.45 589.0
3.423 2.830 2.860 2.830 7129 ASIAFLE 2.840 -0.030 250.6 2.847 8.84 5.63 553.1 0.804 0.625 0.640 0.640 7157 CYL 0.640 0.005 15 0.640 51.20 6.25 64.0
48.735 32.200 33.500 32.200 4162 BAT 32.600 -0.600 648.4 32.74 13.28 6.23 9,308.3 0.405 0.305 0.325 0.325 5082 CYMAO 0.325 -0.015 5 0.325 — — 24.4
0.120 0.050 0.065 0.060 7243 BIOOSMO 0.060 UNCH 3334.9 0.060 — — 47.7 2.348 1.782 2.280 2.200 8125 DAIBOCI 2.280 UNCH 18.2 2.225 31.15 1.91 747.6
0.718 0.485 0.530 0.520 9288 BONIA 0.520 -0.010 153.5 0.524 16.88 2.40 419.3 1.800 0.405 1.800 1.540 8176 DENKO 1.800 0.230 2430 1.714 — — 206.8
1.110 0.915 0.935 0.920 7174 CAB 0.925 UNCH 542 0.929 6.18 0.35 577.6 0.460 0.220 0.420 0.390 7114 DNONCE 0.410 0.040 5676.6 0.407 32.28 — 75.6
1.370 0.380 1.370 1.160 7154 CAELY 1.210 -0.100 5422 1.237 55.25 0.83 96.8 0.435 0.185 — — 5835 DOLMITE 0.205 — — — — — 58.4
0.415 0.260 0.375 0.365 7128 CAMRES 0.370 -0.005 549.3 0.368 17.87 2.70 72.8 0.435 0.150 0.175 0.170 5265 DOLPHIN 0.170 -0.005 235.7 0.171 — — 41.5
16.000 13.228 15.960 15.700 2836 CARLSBG 15.960 0.100 77.3 15.82 22.36 4.82 4,879.7 1.400 1.108 1.340 1.300 7169 DOMINAN 1.340 0.020 66.9 1.319 9.44 4.48 221.4
1.230 0.607 1.070 1.050 7035 CCK 1.070 UNCH 171.4 1.060 11.64 1.87 337.4 2.600 1.123 2.530 2.470 1619 DRBHCOM 2.490 -0.010 8348.3 2.493 8.14 0.40 4,813.8
3.030 1.842 2.880 2.830 7148 CCMDBIO 2.860 -0.010 61.5 2.854 20.36 2.27 797.8 1.582 0.700 1.200 1.170 7233 DUFU 1.200 0.020 421.1 1.179 5.96 4.58 210.6
2.549 2.070 2.170 2.160 2828 CIHLDG 2.160 -0.010 8.1 2.166 10.59 3.70 349.9 0.866 0.640 0.670 0.660 8907 EG 0.660 -0.010 579.8 0.662 6.13 — 175.8
0.145 0.020 0.115 0.110 5188 CNOUHUA 0.110 -0.005 1401.8 0.115 — — 73.5 1.070 0.780 — — 9016 EKSONS 0.810 — — — — — 133.0
3.200 1.937 2.690 2.690 7205 COCOLND 2.690 UNCH 28.5 2.690 15.25 5.76 615.5 0.870 0.535 0.800 0.785 7217 EMETALL 0.785 -0.005 225.9 0.792 7.90 3.18 147.8
1.906 1.600 1.650 1.640 7202 CSCENIC 1.640 UNCH 22.5 1.645 16.11 6.10 197.6 0.885 0.385 — — 7773 EPMB 0.510 — — — — — 84.6
0.095 0.010 — — 5214 CSL 0.010 — — — 1.27 — 12.4 0.988 0.605 0.650 0.605 5101 EVERGRN 0.610 -0.030 6145.7 0.623 10.43 3.28 516.3
0.773 0.481 0.515 0.510 9423 CWG 0.510 -0.005 51 0.511 3.36 2.94 64.4 1.520 1.032 1.490 1.480 2984 FACBIND 1.480 -0.010 235.8 1.490 14.47 2.70 126.0
0.050 0.025 0.035 0.030 7179 DBE 0.030 UNCH 3617 0.034 — — 80.3 2.862 2.407 2.760 2.750 7229 FAVCO 2.760 -0.040 7 2.753 8.41 5.43 611.1
1.040 0.807 — — 7119 DEGEM 1.000 — — — 12.52 2.50 134.0 0.780 0.537 0.600 0.595 0149 FIBON 0.595 -0.005 35 0.596 12.29 1.85 58.3
62.000 51.497 60.860 60.320 3026 DLADY 60.860 -0.020 1.5 60.57 28.95 1.64 3,895.0 2.221 2.010 — — 3107 FIMACOR 2.090 — — — 18.21 5.98 512.6
0.110 0.060 0.090 0.085 7182 EKA 0.090 UNCH 675 0.086 — — 28.1 1.870 1.220 1.290 1.260 5197 FLBHD 1.260 UNCH 33.2 1.274 6.87 — 130.0
0.360 0.220 0.245 0.235 9091 EMICO 0.240 -0.010 309.9 0.240 — — 23.0 0.679 0.390 0.410 0.395 5277 FPGROUP 0.395 UNCH 3228.8 0.405 18.90 1.80 204.6
1.823 1.300 — — 7149 ENGKAH 1.310 — — — 77.51 4.58 92.7 1.510 1.310 1.450 1.450 3611 GBH 1.450 -0.010 5 1.450 75.52 — 270.6
0.270 0.150 — — 7208 EURO 0.160 — — — — — 42.8 2.620 1.520 1.550 1.520 7197 GESHEN 1.520 -0.030 259.8 1.530 7.75 — 121.6
0.760 0.625 — — 7094 EUROSP 0.700 — — — 56.00 — 31.1 0.085 0.040 0.065 0.055 5220 GLOTEC 0.060 UNCH 133574 0.060 — — 322.9
28.800 22.389 28.480 28.380 3689 F&N 28.420 0.060 480.7 28.41 32.20 2.02 10,423.8 0.675 0.185 0.260 0.240 7192 GOODWAY 0.245 0.005 704.6 0.252 — — 27.1
1.070 0.815 — — 2755 FCW 0.850 — — — — 1.76 212.5 0.135 0.090 0.095 0.095 7096 GPA 0.095 UNCH 303.5 0.095 — — 93.1
0.850 0.495 0.530 0.500 8605 FFHB 0.500 UNCH 249.1 0.509 11.71 2.40 54.5 0.425 0.260 0.295 0.290 5649 GPHAROS 0.290 -0.010 50 0.294 — — 39.0
2.040 0.828 1.850 1.820 9172 FPI 1.830 -0.010 448.1 1.832 13.20 3.28 452.7 0.250 0.175 0.195 0.195 0136 GREENYB 0.195 UNCH 97.3 0.195 — 1.54 65.1
1.100 0.800 0.820 0.815 7184 G3 0.815 UNCH 18 0.816 — — 336.2 1.005 0.630 0.715 0.715 3247 GUH 0.715 UNCH 3 0.715 19.48 4.71 198.7
2.200 0.869 2.140 2.060 5102 GCB 2.060 -0.080 156.2 2.084 16.13 1.21 989.1 1.180 0.415 0.920 0.920 5151 HALEX 0.920 -0.020 12.5 0.920 — — 97.5
3.050 2.334 3.000 2.980 5606 GOLDIS 2.980 UNCH 45 2.987 10.57 0.67 1,822.2 11.400 4.457 11.100 10.700 5168 HARTA 11.100 0.360 1296 10.98 50.00 0.90 18,347.2
0.135 0.035 0.090 0.075 5187 HBGLOB 0.085 -0.005 5824.2 0.080 17.35 — 39.8 19.200 2.400 14.760 13.700 4324 HENGYUAN 13.800 -0.540 4383.2 14.27 4.44 — 4,140.0
19.500 14.938 19.200 19.140 3255 HEIM 19.160 0.020 138.4 19.16 20.59 6.00 5,788.2 1.727 1.060 1.120 1.080 5095 HEVEA 1.110 0.020 1975.2 1.111 7.35 6.94 620.0
10.440 8.799 9.790 9.670 3301 HLIND 9.790 0.090 39.9 9.700 25.12 3.58 3,210.2 1.136 0.780 0.800 0.780 3298 HEXZA 0.790 UNCH 96 0.783 — 6.33 158.3
1.008 0.875 0.890 0.880 5160 HOMERIZ 0.890 0.015 195.6 0.888 8.63 4.72 267.0 0.485 0.290 0.475 0.465 5072 HIAPTEK 0.465 -0.005 2701.8 0.468 — — 616.4
0.380 0.285 0.360 0.355 7213 HOVID 0.355 UNCH 795.8 0.355 — — 291.4 1.170 0.375 1.110 1.050 5199 HIBISCS 1.070 -0.050 38617.7 1.076 41.96 — 1,652.0
1.237 1.061 1.140 1.130 5024 HUPSENG 1.140 0.020 167.3 1.133 19.83 3.51 912.0 1.340 0.829 — — 7033 HIGHTEC 1.280 — — — 8.23 2.73 52.0
0.630 0.380 0.425 0.400 8478 HWATAI 0.420 0.015 737.9 0.415 150.00 — 31.4 1.020 0.680 0.860 0.850 8443 HIL 0.850 -0.010 52 0.851 16.90 1.47 283.9
4.760 1.756 1.800 1.770 5107 IQGROUP 1.770 -0.020 107.6 1.788 9.05 6.21 155.8 0.715 0.280 0.435 0.425 5165 HOKHENG 0.425 -0.010 99.2 0.429 29.72 — 34.0
1.546 1.121 1.380 1.350 7152 JAYCORP 1.350 -0.010 169.5 1.358 7.37 8.15 185.3 0.665 0.020 0.550 0.520 2739 HUAAN 0.525 -0.030 35964.9 0.533 — — 589.2
0.740 0.490 0.500 0.495 8931 JERASIA 0.495 0.005 25.3 0.500 13.75 — 40.6 2.869 2.080 2.150 2.100 5000 HUMEIND 2.100 UNCH 6 2.108 90.52 0.95 1,006.1
1.715 1.160 1.400 1.320 7167 JOHOTIN 1.320 -0.090 3025.8 1.361 9.51 2.56 409.8 0.085 0.045 0.070 0.065 9601 HWGB 0.070 -0.005 4728.4 0.070 — — 69.9
2.501 1.200 1.320 1.290 5247 KAREX 1.310 UNCH 996.9 1.305 54.58 0.76 1,313.1 1.996 1.634 — — 7222 IMASPRO 1.820 — — — 33.83 1.92 145.6
3.800 2.900 2.950 2.950 7216 KAWAN 2.950 0.030 15.8 2.950 34.83 0.64 1,060.6 0.300 0.140 — — 7183 IRETEX 0.150 — — — — — 20.7
0.255 0.140 — — 8303 KFM 0.180 — — — — — 12.3 0.085 0.050 0.080 0.070 7223 JADI 0.070 -0.010 12835.4 0.075 — — 65.9
0.920 0.700 — — 6203 KHEESAN 0.730 — — — 23.93 1.37 75.9 0.175 0.135 0.140 0.140 8648 JASKITA 0.140 UNCH 714.2 0.140 — 7.14 62.9
2.537 1.990 — — 7062 KHIND 2.000 — — — 36.17 0.50 80.1 1.120 0.920 1.010 1.010 7043 JMR 1.010 0.015 45 1.010 180.36 2.97 128.1
2.184 1.022 — — 0002 KOTRA 1.670 — — — 15.20 2.40 223.1 1.715 1.160 1.400 1.320 7167 JOHOTIN 1.320 -0.090 3025.8 1.361 9.51 2.56 409.8
0.140 0.055 0.130 0.120 5172 KSTAR 0.125 0.005 5508.3 0.124 — — 36.6 0.310 0.185 0.230 0.225 0054 KARYON 0.230 UNCH 338 0.230 20.91 1.30 109.4
5.839 4.000 4.250 4.170 7006 LATITUD 4.190 -0.030 42 4.195 6.43 2.86 407.3 0.772 0.565 — — 7199 KEINHIN 0.570 — — — 10.94 2.39 62.1
1.090 0.785 0.990 0.970 9385 LAYHONG 0.990 0.010 302.2 0.979 19.49 0.51 602.7 0.500 0.300 0.455 0.420 6211 KIALIM 0.420 -0.010 799.2 0.439 — — 26.0
0.435 0.271 0.425 0.415 8079 LEESK 0.415 UNCH 439.1 0.419 13.56 2.41 69.6 3.080 2.850 2.950 2.850 3522 KIANJOO 2.850 -0.100 267.3 2.876 18.21 1.40 1,265.9
4.303 2.907 3.340 3.290 7089 LIIHEN 3.310 -0.010 415.8 3.311 7.72 4.83 595.8 2.315 1.370 1.500 1.460 5371 KIMHIN 1.500 UNCH 2.2 1.496 10.04 4.00 233.4
0.820 0.595 0.635 0.625 7126 LONBISC 0.630 -0.005 755.8 0.632 13.64 — 117.5 0.075 0.005 — — 5060 KINSTEL 0.005 — — — — — 5.2
1.866 1.020 1.100 1.080 7085 LTKM 1.080 -0.040 23 1.092 27.48 2.78 140.5 1.450 0.800 0.990 0.985 9466 KKB 0.985 -0.005 32.3 0.985 — — 253.9
7.728 4.206 5.420 5.190 7087 MAGNI 5.230 -0.180 757.3 5.305 7.87 2.68 851.1 0.375 0.220 0.270 0.260 7164 KNM 0.265 -0.010 19115.1 0.266 — — 627.9
0.045 0.010 0.040 0.015 5189 MAXWELL 0.035 0.015 78263.5 0.031 — — 14.0 1.120 0.830 0.860 0.860 6971 KOBAY 0.860 -0.010 51.3 0.860 14.08 — 87.8
1.266 0.974 1.000 1.000 5886 MBG 1.000 -0.030 3 1.000 16.29 3.00 60.8 0.266 0.180 0.220 0.210 7017 KOMARK 0.215 0.005 1628.4 0.214 — — 35.4
2.464 1.285 2.130 2.110 3662 MFLOUR 2.110 -0.040 69.6 2.117 13.95 3.08 1,161.1 8.700 5.529 8.290 8.150 7153 KOSSAN 8.260 0.070 2284.4 8.255 29.58 1.33 5,282.0
0.960 0.760 — — 7935 MILUX 0.830 — — — — — 45.2 1.110 0.345 0.735 0.735 7130 KPOWER 0.735 UNCH 60 0.735 — — 56.0
4.956 3.760 4.110 4.080 5202 MSM 4.080 UNCH 28.7 4.102 — 3.43 2,868.2 5.098 4.500 4.800 4.670 3476 KSENG 4.800 0.010 32.5 4.735 22.19 2.08 1,735.1
0.035 0.030 — — 5150 MSPORTS 0.035 — — — — — 21.2 0.580 0.375 0.410 0.410 5192 KSSC 0.410 UNCH 15 0.410 8.93 3.66 39.4
1.826 1.224 1.390 1.370 3921 MWE 1.380 UNCH 63.9 1.383 2.32 1.45 319.6 0.775 0.300 0.500 0.475 8362 KYM 0.475 -0.035 197.6 0.480 67.86 — 71.2
107.00 71.80 107.00 106.30 4707 NESTLE 106.600 0.500 226.5 106.56 43.16 2.53 24,997.7 7.230 5.060 6.120 6.080 3794 LAFMSIA 6.100 0.020 648.9 6.100 — 3.28 5,183.1
4.838 3.091 3.320 3.320 7060 NHFATT 3.320 -0.060 5 3.320 11.18 3.31 249.5 0.910 0.580 0.640 0.635 9326 LBALUM 0.640 UNCH 105.4 0.639 12.88 3.91 159.0
0.130 0.055 0.075 0.065 7139 NICE 0.070 UNCH 3100.3 0.070 — — 23.3 0.601 0.425 0.545 0.545 5092 LCTH 0.545 UNCH 723.6 0.545 15.98 4.59 196.2
0.310 0.225 0.235 0.230 7215 NIHSIN 0.230 -0.005 1128.5 0.230 65.71 — 60.6 6.530 4.140 5.080 5.000 5284 LCTITAN 5.060 UNCH 865.8 5.060 9.43 — 11,677.4
0.882 0.600 0.615 0.605 5066 NTPM 0.605 -0.010 562.5 0.610 15.51 3.97 679.5 0.985 0.486 0.880 0.875 5232 LEONFB 0.875 -0.005 717.5 0.877 4.34 1.71 271.3
0.690 0.460 0.535 0.530 7071 OCR 0.535 UNCH 49.1 0.535 29.40 — 156.4 0.440 0.115 0.320 0.310 8745 LEWEKO 0.310 0.005 552.3 0.313 — — 99.8
1.765 1.190 1.210 1.190 7107 OFI 1.190 -0.010 582.9 1.191 17.45 3.36 285.6 0.080 0.030 0.040 0.035 2887 LIONDIV 0.040 UNCH 50 0.036 — — 55.7
6.768 6.258 6.610 6.500 4006 ORIENT 6.510 UNCH 761.7 6.511 9.17 3.07 4,038.8 1.670 0.450 1.330 1.300 4235 LIONIND 1.310 UNCH 1315.6 1.311 6.60 — 940.5
5.500 2.196 5.260 5.120 7052 PADINI 5.200 -0.090 995.1 5.191 21.38 1.92 3,421.1 0.740 0.390 0.510 0.500 9881 LSTEEL 0.505 0.005 216.7 0.504 11.85 — 64.7
40.631 30.301 37.500 37.420 3719 PANAMY 37.500 -0.100 0.6 37.48 18.84 3.12 2,278.0 0.160 0.080 0.110 0.105 5068 LUSTER 0.105 UNCH 692.5 0.105 — — 207.5
0.654 0.425 0.435 0.425 5022 PAOS 0.430 -0.010 64.2 0.429 51.81 3.72 77.9 4.660 3.345 4.500 4.390 9199 LYSAGHT 4.390 0.050 4.1 4.393 9.16 1.59 182.5
0.650 0.350 — — 9407 PARAGON 0.390 — — — — — 27.3 1.830 0.622 1.690 1.660 5098 MASTEEL 1.680 0.020 2005.1 1.673 7.33 — 530.3
0.401 0.210 0.330 0.320 6068 PCCS 0.330 -0.005 871.2 0.326 7.42 — 69.3 0.841 0.541 0.645 0.640 7029 MASTER 0.640 -0.020 41.2 0.643 8.53 1.56 35.0
1.030 0.790 0.850 0.850 5231 PELIKAN 0.850 0.005 2 0.850 20.38 — 470.3 1.430 0.992 1.390 1.360 5152 MBL 1.380 -0.010 356.3 1.373 9.20 2.90 133.3
0.707 0.561 0.625 0.615 9997 PENSONI 0.625 UNCH 9.5 0.620 10.11 3.20 81.0 0.870 0.675 — — 7004 MCEHLDG 0.770 — — — 30.20 1.95 34.2
0.235 0.155 0.180 0.175 4081 PMCORP 0.180 -0.005 673.1 0.180 — — 139.2 0.400 0.230 0.255 0.250 3778 MELEWAR 0.250 UNCH 40 0.253 — — 56.4
0.795 0.451 0.650 0.635 5080 POHKONG 0.645 UNCH 220.3 0.646 7.99 1.55 264.7 0.789 0.513 — — 5223 MENTIGA 0.660 — — — — 1.52 46.2
2.048 1.590 1.610 1.590 7088 POHUAT 1.600 0.010 183.4 1.599 6.13 5.00 372.8 1.837 1.620 — — 6149 METROD 1.620 — — — 12.68 3.70 194.4
17.600 15.696 17.420 17.380 4065 PPB 17.400 -0.020 2002.4 17.38 15.56 1.44 20,627.7 1.260 0.660 0.695 0.660 5001 MIECO 0.660 -0.035 3916.3 0.674 4.28 6.06 346.5
0.720 0.480 0.510 0.500 7190 PPG 0.500 -0.010 9.6 0.509 16.56 2.76 50.0 0.170 0.090 0.130 0.130 7219 MINETEC 0.130 UNCH 260 0.130 — — 95.1
1.623 0.711 0.735 0.720 8966 PRLEXUS 0.720 -0.015 140.5 0.726 6.69 3.13 129.6 0.660 0.435 0.495 0.475 5576 MINHO 0.480 -0.010 78.2 0.485 6.86 — 105.5
1.133 0.683 1.010 1.000 7134 PWF 1.000 UNCH 43.4 1.007 8.80 3.43 172.9 4.237 3.250 3.740 3.680 5916 MSC 3.700 -0.040 29.4 3.708 11.71 2.16 370.0
2.615 1.793 1.920 1.880 7237 PWROOT 1.890 -0.030 313.7 1.895 17.34 6.08 624.0 1.766 1.280 1.350 1.320 3883 MUDA 1.320 -0.020 118 1.332 9.90 2.27 402.7
4.840 3.820 4.820 4.760 7084 QL 4.770 -0.050 156.1 4.789 38.22 0.69 7,739.0 1.030 0.495 0.525 0.515 5087 MYCRON 0.520 -0.005 115.1 0.522 4.84 — 147.4
0.628 0.530 — — 9946 REX 0.595 — — — 58.91 0.84 146.7 0.240 0.005 — — 7002 NAKA 0.010 — — — — — 0.6
1.890 1.170 1.230 1.170 0183 SALUTE 1.170 -0.050 374.6 1.191 22.41 2.05 454.0 0.265 0.120 — — 5025 NWP 0.140 — — — — — 53.5
1.069 0.550 0.610 0.580 5252 SASBADI 0.595 0.015 1467.2 0.594 30.99 1.13 249.4 1.163 0.552 0.830 0.825 4944 NYLEX 0.825 0.005 139.2 0.826 7.34 2.42 160.3
0.590 0.290 — — 5157 SAUDEE 0.475 — — — 37.40 — 62.7 1.925 1.196 1.650 1.620 7140 OKA 1.630 UNCH 27.1 1.626 9.19 3.37 266.6
1.690 1.000 1.690 1.570 7180 SERNKOU 1.680 0.120 353.2 1.615 67.20 — 201.6 1.604 0.929 1.400 1.330 5065 ORNA 1.340 UNCH 45.2 1.333 8.31 1.87 100.8
0.845 0.590 0.700 0.680 7165 SGB 0.685 -0.035 57.5 0.692 — — 134.9 0.120 0.043 0.115 0.105 7225 PA 0.110 0.005 63664.4 0.110 — — 187.4
1.672 1.160 1.200 1.160 7412 SHH 1.180 -0.010 16 1.181 11.21 4.24 59.0 8.280 6.687 8.260 8.150 5183 PCHEM 8.170 -0.020 13200.7 8.180 15.91 2.94 65,360.0
1.034 0.690 0.710 0.695 7246 SIGN 0.695 -0.010 320.8 0.703 8.53 3.60 167.0 1.667 1.255 1.590 1.550 5271 PECCA 1.560 -0.020 47 1.571 22.51 3.21 293.3
0.915 0.473 0.610 0.590 8532 SINOTOP 0.590 -0.020 50 0.602 80.82 — 233.0 7.901 4.000 4.230 4.220 5436 PERSTIM 4.230 -0.120 1.1 4.229 11.52 9.46 420.1
0.865 0.505 0.580 0.550 9776 SMCAP 0.550 -0.030 71.1 0.554 — — 33.6 20.285 15.820 18.360 17.620 6033 PETGAS 17.940 -0.420 665.6 17.94 20.04 3.68 35,498.5
0.385 0.220 — — 7943 SNC 0.280 — — — — — 18.5 15.060 3.980 12.500 12.080 3042 PETRONM 12.140 -0.140 273.8 12.32 7.84 1.81 3,277.8
2.548 2.130 — — 7103 SPRITZER 2.410 — — — 19.42 2.40 506.1 2.466 1.742 1.940 1.890 7095 PIE 1.900 -0.020 314.7 1.904 15.38 1.26 729.7
1.440 1.050 1.220 1.220 7186 SWSCAP 1.220 0.020 67 1.220 20.78 0.82 178.0 5.466 1.561 4.000 3.950 7172 PMBTECH 3.950 -0.070 71.3 3.981 26.80 1.01 316.0
0.669 0.380 0.385 0.380 7082 SYF 0.385 UNCH 399.8 0.383 9.46 3.90 238.4 5.750 2.506 5.740 5.550 8869 PMETAL 5.630 -0.120 7707.9 5.630 36.56 1.07 21,740.1
0.505 0.360 — — 7211 TAFI 0.400 — — — — — 32.0 0.575 0.470 — — 6637 PNEPCB 0.520 — — — 20.88 — 68.4
1.928 1.290 1.840 1.820 4405 TCHONG 1.820 UNCH 1635.8 1.821 — 1.10 1,223.0 0.995 0.285 0.565 0.510 8117 POLY 0.540 0.010 1000.4 0.542 2.58 — 86.4
0.800 0.375 0.440 0.420 7200 TEKSENG 0.420 -0.010 123.9 0.430 — 4.76 146.2 0.973 0.660 0.695 0.680 8273 PPHB 0.690 0.005 27.7 0.686 7.33 — 130.2
1.250 0.850 0.925 0.905 7252 TEOSENG 0.925 0.020 305.1 0.916 — 1.62 277.5 0.340 0.250 — — 9458 PREMIER 0.275 — — — 916.6 — 92.7
1.455 1.160 — — 9369 TGL 1.200 — — — 13.20 4.17 48.9 1.458 0.823 1.080 1.060 9873 PRESTAR 1.060 -0.020 137.9 1.067 4.59 3.77 216.9
1.020 0.405 0.705 0.695 7230 TOMEI 0.700 -0.020 130 0.699 8.06 — 97.0 1.110 0.780 0.950 0.930 7168 PRG 0.930 UNCH 37.5 0.933 202.17 0.54 281.5
0.530 0.370 — — 7176 TPC 0.395 — — — — — 92.3 0.330 0.105 0.295 0.285 7123 PWORTH 0.285 -0.010 15115.9 0.287 43.18 — 286.8
6.980 4.246 6.820 6.540 4588 UMW 6.820 0.110 1742.5 6.688 — — 7,967.8 1.290 0.920 — — 7544 QUALITY 1.150 — — — — — 66.7
2.680 1.954 2.440 2.430 7757 UPA 2.430 -0.020 3 2.433 3.17 3.29 193.4 0.750 0.510 — — 7498 RALCO 0.550 — — — — — 23.1
2.470 0.756 1.850 1.750 7203 WANGZNG 1.770 -0.050 252.9 1.791 19.49 2.26 283.2 5.840 5.310 — — 7765 RAPID 5.670 — — — 515.45 — 606.1
0.175 0.050 0.175 0.160 5156 XDL 0.175 0.010 16063.3 0.168 23.33 — 236.7 0.675 0.285 0.455 0.440 5256 REACH 0.455 0.005 3281.6 0.447 350.00 — 498.9
0.665 0.365 0.600 0.600 7121 XIANLNG 0.600 -0.010 15 0.600 — — 48.0 0.655 0.365 0.390 0.390 7232 RESINTC 0.390 UNCH 13.5 0.390 6.67 3.08 53.5
0.125 0.020 — — 5155 XINQUAN 0.055 — — — — — 26.7 1.580 0.680 1.500 1.490 9741 ROHAS 1.490 -0.010 49.5 1.496 — 0.67 704.3
2.822 2.100 2.320 2.280 5584 YEELEE 2.310 -0.010 520.8 2.305 11.55 1.95 442.6 0.838 0.641 0.685 0.675 7803 RUBEREX 0.685 0.005 30.3 0.683 9.45 2.55 172.8
1.522 1.009 1.180 1.170 5159 YOCB 1.170 UNCH 72.1 1.173 8.46 4.27 187.2 5.194 3.878 4.200 4.200 5134 SAB 4.200 -0.090 9 4.200 12.94 1.19 575.1
3.190 1.841 2.580 2.550 7178 YSPSAH 2.580 0.010 14.9 2.565 12.79 2.71 352.8 8.490 5.233 7.390 7.350 9822 SAM 7.350 -0.020 5 7.370 17.58 1.40 993.5
2.060 1.153 1.950 1.920 5131 ZHULIAN 1.920 -0.030 187.1 1.925 14.30 3.13 883.2 0.957 0.860 0.870 0.865 7811 SAPIND 0.865 0.005 10.9 0.866 43.91 5.78 63.0
INDUSTRIAL PRODUCTS 1.237 0.700 0.750 0.745 5170 SCABLE 0.745 -0.005 21 0.745 — 4.03 236.2
1.393 0.985 1.060 1.040 0012 3A 1.050 0.010 655.4 1.049 12.35 1.71 516.6 3.400 2.280 2.370 2.330 7247 SCGM 2.370 UNCH 33.6 2.354 17.89 2.53 458.8
0.210 0.085 0.125 0.125 7086 ABLEGRP 0.125 -0.005 250 0.125 — — 33.0 0.740 0.500 0.595 0.570 9237 SCIB 0.570 0.035 14.3 0.590 14.69 — 49.0
0.430 0.205 — — 7131 ACME 0.355 — — — 17.23 — 77.6 9.738 6.608 8.750 8.590 4731 SCIENTX 8.620 -0.110 113.4 8.635 14.76 1.86 4,169.5
0.975 0.585 0.630 0.620 7191 ADVENTA 0.620 -0.010 11 0.625 688.89 — 94.7 0.345 0.250 — — 7239 SCNWOLF 0.270 — — — 142.1 — 23.6
2.307 1.971 — — 9148 ADVPKG 2.040 — — — 23.34 2.94 41.8 0.525 0.195 0.330 0.320 7366 SCOMIEN 0.325 -0.010 563.5 0.327 — — 111.2
0.220 0.135 0.160 0.160 7146 AEM 0.160 UNCH 14 0.160 200.00 — 47.9 1.660 0.690 0.780 0.765 7073 SEACERA 0.780 -0.010 429.2 0.772 60.00 — 283.3
0.580 0.375 — — 5198 AFUJIYA 0.580 — — — 21.40 — 104.4 0.215 0.125 0.170 0.165 5145 SEALINK 0.165 -0.005 96 0.168 — — 82.5
0.595 0.375 — — 2682 AISB 0.400 — — — 4.98 — 57.8 0.765 0.300 0.665 0.640 5163 SEB 0.650 UNCH 408 0.650 9.12 — 52.0
0.913 0.580 0.630 0.615 7609 AJIYA 0.620 UNCH 168 0.617 11.19 3.23 188.8 1.410 0.388 1.070 1.030 5181 SIGGAS 1.030 -0.030 627.6 1.042 43.46 1.17 193.1
* Volume Weighted Average Price # PE is calculated based on latest 12 months reported Earnings Per Share
2 6 Markets T HUR SDAY JAN UARY 1 8, 2 0 1 8 • TH E EDGE FI N AN C I AL DAI LY

BURSA MAL AYSIA MAIN MARKET

YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP
HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL) HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL)
1.040 0.630 — — 7115 SKBSHUT 0.765 — — — 9.34 — 30.6 0.335 0.205 0.240 0.240 7253 HANDAL 0.240 UNCH 20 0.240 — — 38.4
2.350 1.199 2.130 1.980 7155 SKPRES 2.000 -0.040 20506.4 2.060 18.26 2.08 2,500.4 9.790 8.217 9.760 9.670 3034 HAPSENG 9.690 -0.010 501.4 9.701 22.63 3.61 24,125.0
2.201 1.470 1.490 1.490 7248 SLP 1.490 -0.040 500 1.490 19.05 2.64 472.3 0.876 0.646 0.825 0.815 2062 HARBOUR 0.815 -0.010 124 0.816 11.10 1.84 326.3
0.700 0.480 — — 7132 SMISCOR 0.600 — — — — — 26.9 4.200 3.013 4.020 4.020 5008 HARISON 4.020 0.020 1 4.020 12.37 6.22 275.3
2.580 1.129 2.150 2.080 5665 SSTEEL 2.130 0.050 346.5 2.120 7.12 1.41 922.1 1.630 0.416 1.560 1.530 0185 HSSEB 1.560 0.020 370.8 1.543 30.65 0.51 497.8
0.300 0.070 0.190 0.190 7143 STONE 0.190 -0.030 20 0.190 — — 17.1 0.195 0.050 0.125 0.110 7013 HUBLINE 0.115 -0.010 69126.1 0.115 — — 247.0
1.550 1.170 — — 6904 SUBUR 1.260 — — — — — 263.3 0.480 0.210 0.265 0.250 5255 ICON 0.250 -0.015 1531.6 0.256 — — 294.3
2.128 1.200 1.260 1.220 7207 SUCCESS 1.250 -0.010 83.8 1.228 7.25 2.00 310.6 6.388 5.420 6.000 5.940 5225 IHH 6.000 0.040 3452.5 5.976 61.04 0.50 49,437.5
2.945 1.756 2.110 2.050 7235 SUPERLN 2.090 UNCH 209.3 2.089 16.76 1.20 334.4 0.915 0.600 0.630 0.620 5614 ILB 0.620 -0.020 14.8 0.621 — — 120.9
2.460 1.664 2.460 2.280 7106 SUPERMX 2.390 0.090 11953.8 2.379 21.17 2.30 1,625.6 0.905 0.670 — — 5673 IPMUDA 0.870 — — — — — 63.0
4.104 3.344 3.500 3.430 5012 TAANN 3.460 -0.030 384.8 3.459 12.04 4.34 1,539.2 2.166 1.650 1.790 1.780 0058 JCBNEXT 1.780 -0.010 54.6 1.784 30.80 1.12 248.6
0.415 0.250 0.340 0.330 5149 TAS 0.335 -0.015 226.9 0.334 — — 60.3 0.400 0.290 0.355 0.355 8672 KAMDAR 0.355 -0.005 8.5 0.355 11.72 — 70.3
13.373 11.840 12.000 12.000 4448 TASEK 12.000 UNCH 12.4 12.00 161.07 10.00 1,483.5 1.862 1.560 1.630 1.620 6491 KFIMA 1.620 -0.020 7 1.623 20.93 5.56 457.2
0.290 0.105 0.195 0.190 5178 TATGIAP 0.195 0.005 563 0.191 — — 33.3 0.900 0.291 0.820 0.805 0151 KGB 0.820 0.005 624.3 0.816 14.99 1.22 188.5
1.480 0.375 1.150 1.120 7097 TAWIN 1.150 UNCH 978.3 1.142 6.50 — 73.9 1.680 0.850 — — 5035 KNUSFOR 0.925 — — — — — 92.2
2.690 1.300 1.340 1.320 7439 TECGUAN 1.320 UNCH 33.8 1.330 — — 52.9 1.140 0.900 0.980 0.965 5878 KPJ 0.970 UNCH 1313 0.969 22.45 1.84 4,153.0
4.803 4.010 4.070 4.060 7034 TGUAN 4.070 -0.020 87.2 4.065 9.12 2.95 550.6 1.678 1.080 1.300 1.270 5843 KPS 1.300 UNCH 104.1 1.279 17.06 4.81 648.7
2.140 1.500 — — 7374 TIENWAH 1.590 — — — 9.72 6.29 230.1 0.570 0.500 0.515 0.515 9121 KPSCB 0.515 0.005 43 0.515 8.99 — 76.1
0.800 0.550 — — 7854 TIMWELL 0.640 — — — 145.45 — 57.0 0.225 0.125 0.140 0.140 4847 KTB 0.140 UNCH 737.2 0.140 — — 56.4
1.069 0.935 1.040 1.020 7285 TOMYPAK 1.040 0.010 866 1.032 17.75 3.08 436.4 0.628 0.370 0.500 0.490 6874 KUB 0.490 -0.005 1265.3 0.493 10.99 2.04 272.7
4.292 1.820 4.160 4.020 5010 TONGHER 4.020 0.040 29.2 4.027 10.04 9.45 632.9 0.340 0.205 0.205 0.205 7170 LFECORP 0.205 UNCH 20 0.205 — — 38.1
9.300 4.467 9.060 8.750 7113 TOPGLOV 9.000 0.240 4083.4 8.963 31.27 1.61 11,315.9 0.835 0.435 0.720 0.720 8486 LIONFIB 0.720 -0.010 15 0.720 6.04 — 166.7
0.850 0.500 — — 7173 TOYOINK 0.600 — — — — — 64.2 0.890 0.720 0.800 0.780 5143 LUXCHEM 0.790 UNCH 267.2 0.788 14.60 2.95 667.4
0.230 0.155 0.190 0.190 4359 TURIYA 0.190 UNCH 16 0.190 950.00 — 43.5 0.372 0.165 0.205 0.200 5078 M&G 0.200 -0.005 285 0.201 — 25.00 144.8
3.410 1.604 2.960 2.850 7100 UCHITEC 2.950 0.050 1857.4 2.927 20.18 5.08 1,325.1 2.114 1.605 1.830 1.800 3859 MAGNUM 1.800 -0.030 1629.2 1.801 12.95 7.22 2,587.9
4.930 3.150 3.300 3.250 7133 ULICORP 3.300 0.040 12.7 3.267 19.84 3.64 479.2 1.281 0.860 0.955 0.920 5264 MALAKOF 0.930 -0.030 8328.9 0.937 1.90 6.45 4,650.0
1.347 1.040 1.150 1.080 7227 UMSNGB 1.150 0.020 17.1 1.121 11.48 2.61 92.0 0.179 0.135 0.140 0.135 3514 MARCO 0.140 0.005 447 0.138 9.15 3.57 147.6
1.680 0.640 0.685 0.650 4995 VERSATL 0.685 0.015 355.9 0.665 44.48 — 80.4 6.437 5.387 6.050 5.970 6012 MAXIS 6.020 0.020 3175.4 6.017 21.42 3.32 47,019.6
3.210 1.374 3.060 2.900 6963 VS 3.050 0.120 13348.1 3.001 21.99 2.03 3,990.7 0.955 0.670 0.835 0.815 5077 MAYBULK 0.815 UNCH 41.1 0.818 — — 815.0
1.380 0.810 1.380 1.260 5142 WASEONG 1.360 0.100 3380.7 1.337 — 0.37 1,053.8 2.576 2.010 2.410 2.390 5983 MBMR 2.390 -0.010 704.7 2.400 18.50 1.88 934.2
0.465 0.320 0.325 0.325 7226 WATTA 0.325 -0.005 7 0.325 — — 27.5 1.232 0.580 0.715 0.695 4502 MEDIA 0.710 -0.005 717.2 0.705 — 11.27 787.5
2.210 1.724 1.910 1.880 7111 WEIDA 1.880 -0.030 104.5 1.898 20.39 1.60 250.7 0.603 0.370 0.400 0.390 5090 MEDIAC 0.390 UNCH 225.6 0.396 14.61 6.41 658.0
1.639 1.450 1.470 1.460 7231 WELLCAL 1.460 -0.010 76.5 1.466 20.11 4.23 727.0 0.739 0.297 0.415 0.395 7234 MESB 0.405 -0.010 3546.3 0.400 — — 33.2
1.420 0.600 1.190 1.140 7050 WONG 1.150 -0.030 248.7 1.155 17.24 — 105.4 3.978 2.358 3.780 3.740 3069 MFCB 3.740 UNCH 47 3.745 9.41 1.34 1,536.3
0.700 0.500 — — 7025 WOODLAN 0.600 — — — 29.41 — 24.0 1.160 0.625 0.880 0.815 5186 MHB 0.815 -0.055 1458.9 0.837 — — 1,304.0
1.970 1.871 — — 5009 WTHORSE 1.930 — — — 17.42 5.18 463.2 7.900 6.960 7.590 7.390 3816 MISC 7.440 0.040 1248.6 7.444 13.61 4.17 33,210.6
1.037 0.690 0.735 0.725 4243 WTK 0.730 -0.010 420 0.731 — 2.74 351.4 2.606 1.770 2.130 2.050 2194 MMCCORP 2.060 -0.020 1325.7 2.073 15.40 1.94 6,272.8
1.380 0.945 0.970 0.945 7245 WZSATU 0.950 -0.015 255.1 0.962 12.96 2.11 331.4 0.440 0.225 0.405 0.390 0059 MMODE 0.395 -0.010 1320.5 0.398 — — 64.3
0.845 0.720 0.770 0.770 5048 YILAI 0.770 UNCH 40 0.770 — — 123.2 0.100 0.040 0.060 0.055 0043 MTRONIC 0.060 0.005 18059.3 0.055 — — 57.0
0.285 0.155 0.175 0.175 7020 YKGI 0.175 -0.005 44.8 0.175 — — 61.0 0.280 0.130 0.235 0.225 3891 MUIIND 0.225 -0.005 5138.9 0.229 — — 659.8
0.692 0.380 0.400 0.390 7014 YLI 0.395 UNCH 132.1 0.394 — 1.27 40.7 3.050 2.090 2.580 2.570 3905 MULPHA 2.580 -0.010 61.9 2.578 3.41 — 824.6
CONSTRUCTION 2.720 1.934 2.610 2.560 0138 MYEG 2.590 -0.010 4548.7 2.584 43.31 0.66 9,340.3
1.210 0.728 0.845 0.840 5281 ADVCON 0.840 -0.020 152.8 0.841 11.90 — 337.7 1.610 1.340 1.490 1.470 5275 MYNEWS 1.480 0.010 504.2 1.479 31.36 0.68 1,009.6
0.750 0.315 — — 7007 ARK 0.380 — — — — — 18.5 0.910 0.515 0.545 0.535 9806 NATWIDE 0.535 -0.010 132.5 0.539 — — 64.3
1.200 0.609 1.000 0.980 7078 AZRB 0.985 -0.015 111 0.985 12.47 1.52 523.6 0.495 0.350 0.375 0.370 7241 NGGB 0.375 0.005 481.6 0.374 — — 171.9
0.625 0.370 0.400 0.395 5190 BENALEC 0.395 -0.005 471.1 0.398 64.75 1.01 320.7 0.140 0.050 0.065 0.065 4464 NICORP 0.065 UNCH 3547.7 0.065 — — 57.0
0.485 0.325 0.340 0.340 5932 BPURI 0.340 -0.005 75 0.340 45.33 — 90.8 0.828 0.580 0.670 0.650 5533 OCB 0.650 UNCH 32 0.656 27.66 1.54 66.9
1.140 0.781 — — 8761 BREM 1.040 — — — 18.71 1.44 359.3 0.985 0.750 0.900 0.890 0172 OCK 0.890 UNCH 208.6 0.895 26.25 1.12 775.6
1.220 0.875 0.900 0.890 8591 CRESBLD 0.895 UNCH 259 0.897 6.51 4.47 158.3 3.374 1.765 3.060 3.050 5201 OLDTOWN 3.050 -0.010 123.3 3.054 21.05 2.30 1,412.9
2.086 1.437 1.710 1.710 7528 DKLS 1.710 UNCH 1 1.710 3.66 1.75 158.5 0.210 0.085 0.135 0.130 3018 OLYMPIA 0.135 UNCH 3512.2 0.130 4.31 — 138.2
1.410 1.180 1.330 1.270 5253 ECONBHD 1.310 -0.010 2862 1.306 20.50 1.37 1,752.1 2.230 1.120 1.410 1.390 5260 OWG 1.390 -0.010 302.4 1.398 53.46 — 371.3
1.488 0.871 1.110 1.080 8877 EKOVEST 1.080 -0.030 9932.5 1.087 20.11 1.85 2,310.3 0.498 0.380 0.435 0.430 8419 PANSAR 0.430 -0.005 140 0.434 18.94 2.33 120.4
0.992 0.545 0.870 0.835 7047 FAJAR 0.845 0.005 750.5 0.845 7.77 2.96 314.9 0.734 0.436 0.660 0.645 5125 PANTECH 0.645 -0.015 1084.8 0.652 11.30 2.79 480.3
1.335 1.004 1.130 1.110 9261 GADANG 1.110 UNCH 4330.4 1.118 6.27 2.70 731.2 0.735 0.505 0.540 0.530 5657 PARKSON 0.540 UNCH 292.3 0.536 — — 590.7
5.392 4.573 5.150 5.030 5398 GAMUDA 5.100 0.020 3751.9 5.087 19.34 2.35 12,524.5 1.288 1.096 1.210 1.180 5041 PBA 1.180 -0.030 48 1.198 6.88 3.39 390.9
2.160 0.891 2.020 1.880 5226 GBGAQRS 1.930 -0.090 3823.8 1.930 18.90 0.26 877.0 0.165 0.099 0.140 0.125 6254 PDZ 0.135 0.005 9629.5 0.132 — — 88.0
0.920 0.510 0.610 0.600 5169 HOHUP 0.600 -0.010 282.5 0.603 5.56 — 224.9 1.250 0.740 0.905 0.900 5133 PENERGY 0.905 UNCH 114.4 0.903 — 2.21 291.2
1.736 1.390 1.470 1.460 6238 HSL 1.470 UNCH 28.5 1.460 18.54 1.63 856.5 0.660 0.285 0.495 0.455 7108 PERDANA 0.465 -0.025 8005.9 0.468 — — 362.0
3.518 2.700 3.000 2.950 3336 IJM 3.000 0.010 2486 2.988 17.72 2.50 10,885.8 0.090 0.025 0.085 0.065 0047 PERISAI 0.075 -0.015 235572 0.073 — — 94.6
0.740 0.525 0.565 0.550 5268 IKHMAS 0.565 -0.010 289.3 0.562 21.48 0.88 299.6 0.420 0.155 0.265 0.260 7080 PERMAJU 0.265 UNCH 417 0.264 — — 51.9
0.820 0.532 0.745 0.730 8834 IREKA 0.740 -0.005 176.8 0.736 — 2.70 138.2 2.070 1.510 2.020 1.960 5219 PESTECH 2.000 0.010 2487.6 1.991 19.57 — 1,528.6
1.790 1.010 1.770 1.730 4723 JAKS 1.770 0.020 2627.5 1.746 — — 872.2 25.500 20.824 24.720 24.640 5681 PETDAG 24.700 -0.020 797.1 24.68 22.53 3.16 24,538.3
0.500 0.240 0.265 0.255 9083 JETSON 0.255 -0.005 218.1 0.259 — — 52.7 0.250 0.030 — — 7027 PETONE 0.055 — — — 3.53 — 2.8
4.320 2.163 4.080 4.040 7161 KERJAYA 4.070 -0.010 135.4 4.062 17.30 1.35 2,297.6 5.085 3.650 4.100 4.080 7081 PHARMA 4.100 -0.030 41.5 4.092 34.08 3.90 1,065.3
2.430 2.000 2.250 2.250 5171 KIMLUN 2.250 -0.030 77.2 2.250 10.10 2.89 721.5 0.189 0.120 0.130 0.125 7201 PICORP 0.130 UNCH 53.5 0.129 — 4.69 85.5
1.680 1.300 — — 9628 LEBTECH 1.300 — — — 77.38 — 177.4 0.420 0.230 — — 7163 PJBUMI 0.265 — — — — — 21.7
1.000 0.710 0.790 0.750 5129 MELATI 0.790 UNCH 16 0.762 38.92 1.27 94.8 5.665 3.833 5.190 5.100 4634 POS 5.110 -0.080 788.1 5.120 39.89 2.09 4,000.0
2.560 1.210 1.980 1.970 8192 MERCURY 1.970 0.010 7 1.973 6.80 6.09 79.2 2.416 1.190 1.870 1.760 5204 PRESBHD 1.830 0.030 781.5 1.821 59.22 1.64 885.7
0.575 0.290 0.355 0.345 5006 MERGE 0.345 -0.010 70 0.352 — — 23.1 2.180 1.270 1.300 1.270 8346 PRKCORP 1.290 -0.010 20.5 1.274 — — 129.0
1.930 0.835 1.710 1.700 7595 MGB 1.710 UNCH 109.8 1.710 28.55 — 841.7 0.871 0.685 0.765 0.730 5272 RANHILL 0.745 0.035 1831.7 0.750 8.90 4.03 661.8
1.407 0.740 0.945 0.935 9571 MITRA 0.940 UNCH 782.8 0.937 5.84 5.32 648.1 0.360 0.255 0.290 0.285 0037 RGB 0.285 -0.005 3695.2 0.285 14.11 2.11 382.1
0.425 0.210 — — 5924 MTDACPI 0.295 — — — — — 68.3 1.447 0.755 0.950 0.940 5278 RHONEMA 0.945 0.010 70.9 0.944 16.91 2.65 156.9
1.670 0.780 0.910 0.880 5085 MUDAJYA 0.910 0.020 275.6 0.900 — — 550.9 0.687 0.390 0.480 0.475 8567 SALCON 0.475 -0.005 431.2 0.476 — — 321.9
3.360 2.301 3.320 3.240 5703 MUHIBAH 3.270 -0.020 850.5 3.284 12.32 1.68 1,576.5 1.240 0.754 1.200 1.170 5147 SAMCHEM 1.180 -0.020 909.6 1.187 15.73 3.18 321.0
0.724 0.435 0.475 0.460 8311 PESONA 0.460 -0.015 445.3 0.469 14.20 4.35 319.6 0.315 0.130 0.200 0.195 9113 SANBUMI 0.195 UNCH 68 0.195 — — 44.1
1.203 0.900 1.120 1.100 5070 PRTASCO 1.110 0.010 388.2 1.102 21.51 5.41 471.4 2.100 0.665 0.845 0.795 5218 SAPNRG 0.810 -0.035 98616.1 0.817 — 1.23 4,853.6
0.215 0.115 0.150 0.140 7145 PSIPTEK 0.145 -0.010 1446.8 0.142 13.18 — 50.6 2.338 1.580 1.680 1.650 0099 SCICOM 1.650 -0.030 126 1.658 13.00 5.45 586.5
4.137 3.209 3.800 3.790 9598 PTARAS 3.800 -0.010 110 3.800 23.31 5.26 627.6 0.430 0.200 0.285 0.280 7158 SCOMI 0.285 UNCH 1384.4 0.280 — — 273.2
1.140 0.600 0.700 0.685 6807 PUNCAK 0.700 0.015 300.5 0.693 — — 314.5 0.270 0.090 0.135 0.130 7045 SCOMIES 0.130 -0.005 4168 0.134 — — 304.4
1.390 0.505 0.860 0.825 5205 SENDAI 0.855 0.015 5986.9 0.847 — — 667.8 1.430 0.930 1.430 1.380 7053 SEEHUP 1.400 0.010 21.4 1.403 — — 112.6
2.640 1.620 2.580 2.510 5263 SUNCON 2.520 -0.020 2252.5 2.521 23.60 2.18 3,258.1 0.730 0.598 0.655 0.650 9792 SEG 0.655 UNCH 796.2 0.652 21.98 5.34 828.1
0.415 0.240 0.275 0.265 9717 SYCAL 0.270 UNCH 570.5 0.272 17.65 — 93.8 1.750 1.120 1.560 1.520 5250 SEM 1.560 0.030 272.5 1.544 39.69 1.47 1,924.1
0.860 0.374 0.685 0.680 5054 TRC 0.685 UNCH 166.9 0.683 9.80 2.77 329.1 3.600 1.465 3.450 3.380 5279 SERBADK 3.400 -0.050 524.4 3.402 12.85 — 4,539.0
2.450 1.500 2.250 2.250 5622 TRIPLC 2.250 UNCH 0.4 2.250 10.23 — 155.1 2.960 2.040 2.730 2.670 4197 SIME 2.720 0.010 14185.7 2.706 11.65 8.46 18,498.3
0.825 0.450 0.500 0.490 5042 TSRCAP 0.490 -0.010 57 0.492 12.66 — 85.5 0.720 0.600 — — 9431 SJC 0.680 — — — — 1.47 27.6
0.200 0.110 0.180 0.170 7070 VIZIONE 0.175 UNCH 25018.3 0.176 109.38 — 619.2 0.588 0.320 0.340 0.330 5242 SOLID 0.340 -0.005 260.6 0.337 35.05 1.00 132.9
1.680 0.970 1.220 1.190 3565 WCEHB 1.220 UNCH 270 1.207 33.52 — 1,223.3 2.151 1.310 1.450 1.410 6084 STAR 1.420 -0.010 101.5 1.428 4.02 10.56 1,048.8
2.467 1.460 1.690 1.640 9679 WCT 1.660 -0.020 1454.4 1.660 22.65 — 2,349.9 3.079 2.312 — — 9865 SUIWAH 2.450 — — — 12.85 0.41 149.5
0.805 0.535 0.720 0.715 7028 ZECON 0.715 -0.010 97.3 0.720 6.79 — 93.7 0.130 0.045 0.115 0.090 1201 SUMATEC 0.100 -0.020 509754 0.101 — — 425.3
0.185 0.095 0.130 0.120 2283 ZELAN 0.130 UNCH 2884.9 0.124 — — 109.8 1.918 1.580 1.680 1.650 5211 SUNWAY 1.670 -0.010 2352.2 1.663 12.47 2.81 8,214.3
TRADING SERVICES 2.257 1.820 1.900 1.860 6521 SURIA 1.900 0.030 5.7 1.889 10.43 3.68 547.5
0.550 0.325 0.395 0.385 5238 AAX 0.385 -0.010 4576.3 0.388 51.33 — 1,597.0 0.345 0.220 0.235 0.235 5173 SYSCORP 0.235 UNCH 164.9 0.235 23.74 — 282.0
0.290 0.135 0.240 0.220 5166 AEGB 0.220 -0.015 2464.8 0.229 — — 272.8 0.535 0.315 0.510 0.490 7228 T7GLOBAL 0.500 UNCH 4530.8 0.498 17.42 — 209.7
2.664 1.640 1.700 1.640 6599 AEON 1.680 0.010 839.9 1.668 28.19 1.79 2,358.7 1.691 1.002 1.100 1.080 8524 TALIWRK 1.090 0.010 225.4 1.096 24.17 7.34 1,318.3
0.435 0.165 0.245 0.235 7315 AHB 0.245 UNCH 489.5 0.240 4.40 — 43.1 2.667 1.487 2.100 2.080 5140 TASCO 2.100 0.020 27.2 2.085 12.84 2.14 420.0
3.990 2.191 3.900 3.830 5099 AIRASIA 3.900 0.070 9482 3.854 7.08 4.62 13,033.7 15.980 12.465 15.980 15.780 5347 TENAGA 15.820 -0.060 9161.2 15.81 12.96 3.86 89,635.9
9.400 6.036 9.040 8.800 5014 AIRPORT 9.030 UNCH 2426.4 8.969 81.42 1.22 14,982.5 1.404 0.829 0.910 0.895 8702 TEXCHEM 0.895 -0.025 99.7 0.903 34.16 11.17 111.1
0.370 0.110 0.185 0.180 5115 ALAM 0.180 -0.005 5130.3 0.183 — — 166.4 0.180 0.045 0.125 0.115 7206 THHEAVY 0.115 -0.010 16805.4 0.119 — — 128.9
0.140 0.070 0.090 0.085 0159 AMEDIA 0.085 UNCH 144.4 0.089 — — 20.4 6.586 5.707 6.110 5.980 4863 TM 6.110 0.110 2279.9 6.016 28.41 3.54 22,961.0
7.964 6.953 7.890 7.800 6351 AMWAY 7.890 0.100 17.8 7.837 25.59 2.53 1,297.0 0.985 0.730 0.830 0.820 0101 TMCLIFE 0.820 -0.010 78 0.824 54.67 0.21 1,423.8
2.340 2.110 2.150 2.110 7083 ANALABS 2.130 -0.020 18.5 2.139 13.40 1.53 127.9 1.806 1.290 1.320 1.290 8397 TNLOGIS 1.290 -0.030 223.2 1.295 7.99 1.55 593.8
0.055 0.015 0.030 0.025 5194 APFT 0.030 UNCH 1140 0.026 — — 40.3 1.060 0.500 0.695 0.650 7218 TOCEAN 0.695 0.045 129.7 0.663 — — 28.5
0.900 0.605 0.840 0.825 5210 ARMADA 0.830 -0.015 8248.1 0.828 — — 4,869.0 1.000 0.730 0.770 0.770 5167 TURBO 0.770 0.035 2 0.770 19.79 — 83.2
0.220 0.105 0.145 0.140 1481 ASB 0.140 -0.005 797.3 0.144 42.42 1.79 94.9 2.892 2.460 2.730 2.600 7137 UMS 2.730 0.130 2 2.607 19.85 2.20 111.1
2.906 2.415 2.680 2.600 6399 ASTRO 2.630 -0.050 2401.4 2.629 18.67 4.37 13,712.5 0.871 0.270 0.415 0.380 5243 UMWOG 0.385 -0.020 149573 0.396 — — 2,694.5
4.780 3.954 4.400 4.310 7048 ATLAN 4.390 0.050 40.5 4.347 31.61 7.06 1,113.5 1.294 0.995 1.050 1.040 7091 UNIMECH 1.040 -0.010 20 1.043 15.01 2.88 136.4
0.365 0.280 0.335 0.325 8885 AVI 0.335 -0.005 43.6 0.335 — — 287.6 0.730 0.350 0.560 0.535 5754 UTUSAN 0.550 -0.025 75 0.542 — — 60.9
1.168 0.840 0.875 0.840 7579 AWC 0.845 -0.030 596.8 0.850 10.38 2.37 229.7 1.980 1.260 1.570 1.540 7250 UZMA 1.570 UNCH 304.6 1.561 15.01 — 502.4
5.820 4.175 5.550 5.470 6888 AXIATA 5.550 UNCH 5394.9 5.537 86.18 1.44 50,217.2 1.240 0.600 0.850 0.775 7240 VERTICE 0.780 -0.070 1600.1 0.811 — — 113.3
0.653 0.329 0.425 0.415 5021 AYS 0.415 -0.005 285.1 0.419 6.45 6.02 157.9 2.140 1.724 2.020 2.020 5016 WARISAN 2.020 UNCH 1.3 2.020 39.07 1.49 135.7
0.740 0.285 0.325 0.300 7251 BARAKAH 0.300 -0.025 4040 0.312 — — 247.9 0.620 0.450 — — 7692 WIDETEC 0.570 — — — 23.75 — 25.5
2.449 1.807 2.340 2.280 5248 BAUTO 2.300 -0.050 1320.7 2.314 29.95 3.91 2,667.8 4.147 3.340 3.500 3.450 5246 WPRTS 3.500 0.050 1060.4 3.489 20.05 3.73 11,935.0
0.280 0.160 0.175 0.170 6998 BINTAI 0.170 -0.005 512.5 0.171 — — 49.2 1.448 1.020 1.180 1.170 5267 XINHWA 1.180 UNCH 125 1.178 24.84 0.85 254.9
6.278 5.662 6.000 5.900 5032 BIPORT 5.900 -0.100 12.1 5.927 17.82 3.56 2,714.0 0.075 0.020 0.030 0.025 7122 YFG 0.025 -0.010 1806 0.029 — — 15.2
0.415 0.320 0.355 0.345 3395 BJCORP 0.345 -0.010 7492.8 0.349 — — 1,698.6 4.400 2.933 4.150 4.000 7293 YINSON 4.110 0.080 1190.9 4.032 15.63 0.97 4,491.4
1.933 1.364 1.830 1.790 5196 BJFOOD 1.790 -0.040 79.1 1.803 53.43 2.61 682.9 1.510 1.090 1.510 1.470 4677 YTL 1.510 0.010 4574.4 1.498 20.27 3.31 16,474.9
0.645 0.330 0.335 0.330 4219 BJLAND 0.335 -0.005 215.5 0.334 31.31 — 1,675.1 FINANCE
0.470 0.185 0.210 0.210 6025 BJMEDIA 0.210 -0.055 0.2 0.210 — — 49.4 4.302 3.539 4.200 4.170 2488 ABMB 4.200 0.020 3299 4.190 12.75 3.81 6,502.0
2.884 2.213 2.390 2.360 1562 BJTOTO 2.390 0.030 1555.9 2.377 12.77 5.86 3,229.0 14.600 11.782 13.740 13.640 5139 AEONCR 13.740 0.040 162.8 13.67 68.36 3.11 3,412.4
0.135 0.080 0.090 0.085 7036 BORNOIL 0.085 UNCH 27079.1 0.088 16.35 — 430.6 2.888 2.193 — — 5185 AFFIN 2.530 — — — 9.58 2.77 4,915.7
0.875 0.400 0.480 0.465 9474 BRAHIMS 0.465 -0.005 116.6 0.469 — — 109.9 15.600 10.107 13.260 13.200 1163 ALLIANZ 13.240 -0.040 20 13.24 7.90 0.91 2,311.5
3.038 2.457 2.810 2.780 2771 BSTEAD 2.780 -0.040 1025.2 2.791 11.01 4.32 5,635.0 5.485 4.011 4.770 4.710 1015 AMBANK 4.750 -0.050 2567.9 4.748 10.91 3.71 14,317.4
0.620 0.280 0.430 0.405 5257 CARIMIN 0.405 UNCH 2504.8 0.420 — — 94.7 1.950 1.263 — — 5088 APEX 1.600 — — — 23.09 3.13 341.7
2.200 1.278 2.060 2.050 5245 CARING 2.060 UNCH 40 2.051 28.65 1.46 448.5 4.461 4.000 4.060 4.000 5258 BIMB 4.040 -0.020 1181.6 4.003 10.75 3.47 6,616.5
3.063 1.980 2.120 2.100 2925 CCB 2.110 -0.110 11.6 2.113 27.76 2.37 212.6 10.880 7.782 10.660 10.560 1818 BURSA 10.560 -0.040 246.1 10.60 25.97 3.50 5,676.0
1.440 0.870 1.020 1.000 7117 CENTURY 1.000 -0.030 586.2 1.008 21.60 3.00 393.4 6.937 4.516 6.810 6.740 1023 CIMB 6.770 -0.020 7927.1 6.785 14.17 3.69 62,457.0
0.540 0.376 — — 7209 CHEETAH 0.455 — — — 79.82 1.32 58.1 0.705 0.325 0.520 0.500 2143 ECM 0.520 -0.005 5.2 0.501 185.71 — 149.0
1.468 0.844 1.200 1.180 5273 CHINHIN 1.200 UNCH 50.5 1.194 15.67 3.33 667.7 1.250 1.150 1.250 1.210 5228 ELKDESA 1.210 UNCH 152.6 1.220 12.28 5.58 361.1
0.675 0.442 0.485 0.485 7016 CHUAN 0.485 -0.005 30 0.485 12.16 3.71 81.8 18.200 12.666 18.200 17.380 5819 HLBANK 17.800 0.580 887.4 17.79 16.25 2.53 38,585.4
0.150 0.065 0.145 0.135 5104 CNI 0.140 0.005 6800.3 0.139 — — 100.8 10.100 7.327 — — 5274 HLCAP 9.790 — — — 29.92 1.94 2,417.1
1.240 0.660 0.800 0.740 5136 COMPLET 0.770 UNCH 411.6 0.772 13.51 — 95.3 17.980 14.330 17.800 17.760 1082 HLFG 17.780 UNCH 480.3 17.78 12.91 2.14 20,402.9
0.045 0.020 0.035 0.030 5037 COMPUGT 0.030 -0.005 4404 0.031 — — 70.4 1.140 0.745 1.020 0.990 3379 INSAS 0.995 0.010 2159.8 1.004 4.07 1.01 689.9
2.820 2.034 2.670 2.630 5184 CYPARK 2.670 -0.010 37.6 2.646 12.18 1.95 697.4 0.400 0.165 0.350 0.325 3441 JOHAN 0.350 0.020 4929.7 0.342 — — 218.0
0.865 0.410 0.435 0.435 5276 DANCO 0.435 -0.005 76.7 0.435 10.31 3.45 129.6 0.690 0.429 0.620 0.615 6483 KENANGA 0.615 UNCH 133.5 0.616 31.06 3.66 444.4
0.110 0.055 0.105 0.090 0091 DAYA 0.095 -0.010 48613.4 0.096 — — 194.1 20.280 15.843 19.980 19.880 8621 LPI 19.940 -0.040 70.6 19.95 21.10 3.61 6,619.8
0.895 0.535 0.860 0.825 5141 DAYANG 0.835 -0.010 2343.1 0.835 — — 805.6 0.857 0.765 0.780 0.775 1198 MAA 0.775 UNCH 48 0.778 8.64 11.61 212.0
1.190 0.746 1.140 1.110 5132 DELEUM 1.110 -0.020 179.7 1.117 15.48 2.93 444.2 3.320 2.895 3.290 3.290 1058 MANULFE 3.290 UNCH 3 3.290 13.46 3.19 665.8
0.840 0.425 0.605 0.585 7212 DESTINI 0.585 -0.010 5929.7 0.597 18.40 — 675.8 9.880 7.599 9.880 9.830 1155 MAYBANK 9.880 0.030 6245.6 9.859 13.03 5.57 106,774.7
2.780 1.492 2.640 2.580 7277 DIALOG 2.630 -0.010 20630.9 2.607 32.11 1.01 14,837.5 1.380 1.006 1.190 1.130 1171 MBSB 1.130 -0.030 10892.7 1.152 19.45 2.65 6,694.6
5.292 3.820 3.890 3.820 5908 DKSH 3.860 -0.040 49 3.852 12.23 2.46 608.6 2.840 2.190 2.640 2.590 6459 MNRB 2.640 0.020 135 2.611 7.91 — 843.8
0.683 0.262 0.525 0.490 4456 DNEX 0.495 -0.030 30373.3 0.501 11.76 1.01 869.0 1.850 1.210 1.640 1.570 5237 MPHBCAP 1.590 -0.030 640.6 1.593 17.10 — 1,136.9
1.335 1.023 1.190 1.170 5216 DSONIC 1.170 -0.010 360.4 1.176 25.83 3.42 1,579.5 1.340 1.200 1.280 1.270 6009 P&O 1.280 UNCH 15.5 1.279 39.63 6.64 314.8
0.295 0.135 0.150 0.145 2097 EASTLND 0.150 0.005 95.6 0.145 — — 36.9 21.080 19.301 20.920 20.860 1295 PBBANK 20.880 UNCH 5517.3 20.88 14.75 2.83 81,059.0
0.725 0.350 0.450 0.435 5259 EATECH 0.445 -0.010 508 0.440 — — 224.3 1.850 1.349 1.520 1.500 9296 RCECAP 1.500 -0.020 170.5 1.506 5.89 2.00 534.0
0.930 0.210 0.760 0.690 5036 EDARAN 0.690 -0.055 489.6 0.710 — — 41.4 5.495 4.710 5.300 5.160 1066 RHBBANK 5.250 0.070 3947 5.248 12.01 2.29 21,052.7
0.290 0.170 0.185 0.185 7471 EDEN 0.185 -0.005 567.1 0.185 — — 57.6 0.708 0.456 0.680 0.665 4898 TA 0.680 UNCH 569.2 0.671 3.19 2.50 1,164.1
3.180 2.213 2.530 2.500 1368 EDGENTA 2.530 0.030 22.8 2.510 21.46 3.16 2,104.0 4.080 3.226 3.700 3.580 6139 TAKAFUL 3.620 -0.020 18.3 3.621 15.69 4.14 2,979.8
0.590 0.240 0.305 0.295 0064 EFFICEN 0.295 -0.015 1230.5 0.299 — — 209.2 1.620 0.980 1.080 1.050 5230 TUNEPRO 1.060 -0.010 1660.2 1.061 14.70 4.91 796.9
0.955 0.631 — — 5081 EIG 0.700 — — — 19.55 4.29 166.0 PROPERTIES
2.087 1.100 1.630 1.620 5208 EITA 1.630 -0.020 13 1.624 10.63 2.45 211.9 0.852 0.720 0.750 0.750 1007 AMPROP 0.750 UNCH 13.8 0.750 12.95 4.00 456.5
1.508 1.070 1.090 1.070 5056 ENGTEX 1.080 UNCH 696.7 1.080 6.51 0.69 478.8 0.409 0.333 0.395 0.365 1007PA AMPROP-PA 0.395 0.030 3.7 0.386 — 5.06 114.4
0.605 0.370 0.510 0.510 6939 FIAMMA 0.510 UNCH 44.8 0.510 11.62 2.94 270.3 1.850 1.060 1.370 1.360 5959 AMVERTON 1.360 -0.040 62 1.367 28.51 — 496.5
0.465 0.355 0.420 0.415 9318 FITTERS 0.420 UNCH 408 0.417 — — 201.8 0.230 0.150 0.165 0.160 4057 ASIAPAC 0.160 -0.005 2631.7 0.161 10.19 — 165.1
1.423 1.069 1.280 1.280 7210 FREIGHT 1.280 -0.010 5 1.280 10.82 3.91 238.3 7.600 6.300 — — 2305 AYER 6.800 — — — 32.49 0.74 509.0
0.525 0.173 0.480 0.460 0128 FRONTKN 0.465 -0.010 9234.6 0.467 15.71 1.08 489.8 0.525 0.420 — — 6602 BCB 0.470 — — — 22.60 — 193.9
0.295 0.160 — — 9377 FSBM 0.230 — — — — — 32.5 0.793 0.595 0.610 0.610 6173 BDB 0.610 UNCH 21 0.610 7.16 7.38 185.4
3.054 2.418 2.870 2.850 5209 GASMSIA 2.850 -0.020 695.2 2.863 21.62 4.51 3,659.4 0.605 0.375 — — 9814 BERTAM 0.400 — — — 1.62 — 82.7
0.820 0.575 0.630 0.620 0078 GDEX 0.625 -0.005 669.5 0.626 94.70 0.40 3,485.5 0.700 0.400 0.435 0.430 3239 BJASSET 0.435 -0.005 220 0.433 6.73 — 1,112.8
6.259 4.543 5.570 5.400 4715 GENM 5.570 0.080 9253 5.467 13.15 1.83 33,074.9 1.500 1.140 1.220 1.220 5738 CHHB 1.220 -0.050 12 1.220 — — 336.4
9.960 8.008 9.610 9.400 3182 GENTING 9.610 0.130 3772.7 9.562 15.05 1.20 37,015.6 1.673 1.363 1.490 1.450 6718 CRESNDO 1.450 UNCH 12.2 1.457 9.20 4.14 406.7
0.330 0.185 0.230 0.230 5079 GETS 0.230 -0.010 5 0.230 — — 29.0 1.720 1.455 1.600 1.600 5049 CVIEW 1.600 -0.080 10 1.600 5.68 9.38 160.0
3.770 2.689 3.760 3.680 3204 GKENT 3.750 0.040 929.2 3.738 18.45 1.91 2,112.3 2.375 2.083 2.190 2.180 5355 DAIMAN 2.180 -0.010 10.9 2.187 21.69 2.52 462.6
0.555 0.360 0.480 0.420 7676 GUNUNG 0.430 -0.030 6184.1 0.460 — — 101.6 0.993 0.477 0.520 0.520 3484 DBHD 0.520 -0.005 58.5 0.520 — — 163.5
5.590 2.688 5.300 5.190 7668 HAIO 5.240 -0.020 242.3 5.215 20.74 2.73 1,572.8 0.115 0.075 0.085 0.085 7198 DPS 0.085 -0.005 262.6 0.085 — — 50.0

* Volume Weighted Average Price # PE is calculated based on latest 12 months reported Earnings Per Share
THU R S DAY JA N UA RY 1 8 , 20 1 8 • T HEED G E FINA NCIA L DA ILY
Markets 2 7
BURSA MAL AYSIA MAIN MARKET . ACE MARKET

YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP
HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL) HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL)
2.089 1.350 1.450 1.430 3417 E&O 1.440 UNCH 424 1.440 15.19 2.08 1,910.5 1.750 0.744 1.150 1.130 0008 WILLOW 1.150 0.020 20 1.146 13.45 1.74 285.2
0.325 0.255 0.295 0.295 3557 ECOFIRS 0.295 UNCH 275.3 0.295 12.61 — 236.9 INFRASTRUCTURE PROJECT COMPANIES
1.720 1.340 1.440 1.420 8206 ECOWLD 1.430 -0.010 670 1.426 19.43 — 4,210.4 5.100 4.360 4.830 4.750 6947 DIGI 4.820 0.050 2740.6 4.800 25.12 2.95 37,475.5
0.920 0.580 0.740 0.725 6076 ENCORP 0.740 UNCH 401.2 0.728 14.23 — 217.5 6.000 5.400 5.770 5.730 6645 LITRAK 5.770 0.020 52.1 5.738 14.05 5.20 3,044.9
3.180 1.940 — — 8613 ENRA 2.960 — — — 38.49 1.01 403.2 9.900 7.724 8.990 8.920 5031 TIMECOM 8.990 UNCH 510.6 8.953 22.45 2.21 5,227.3
1.300 0.770 1.100 1.040 6815 EUPE 1.040 -0.040 219.3 1.043 — — 133.1 1.443 1.110 1.320 1.280 6742 YTLPOWR 1.320 0.030 1743.7 1.310 15.46 3.79 10,766.1
0.863 0.400 0.420 0.410 7249 EWEIN 0.420 UNCH 411.6 0.417 9.42 1.19 126.7 CLOSED-END FUNDS
1.360 0.955 1.060 1.030 5283 EWINT 1.050 0.010 1482.6 1.046 — — 2,520.0 2.880 2.390 2.860 2.840 5108 ICAP 2.840 -0.020 28 2.852 178.62 — 397.6
0.617 0.468 0.510 0.500 6041 FARLIM 0.500 UNCH 101 0.506 7.68 4.00 70.2 EXCHANGE TRADED FUNDS
0.647 0.527 0.575 0.555 5020 GLOMAC 0.560 -0.010 51.6 0.561 56.00 4.88 448.3 1.140 1.100 — — 0800EA ABFMY1 1.140 — — — — 4.98 1,442.6
0.511 0.363 0.410 0.385 9962 GMUTUAL 0.395 -0.010 171.5 0.390 10.13 5.06 148.4 2.210 1.835 — — 0822EA CIMBA40 2.040 — — — — 3.62 5.5
0.470 0.315 0.330 0.320 1147 GOB 0.325 -0.005 433.1 0.324 23.72 1.54 147.8 1.740 1.370 1.740 1.740 0823EA CIMBC50 1.740 0.030 1.8 1.740 — — 17.0
0.150 0.090 0.110 0.110 7077 GSB 0.110 UNCH 1090.9 0.110 — — 58.1 1.875 1.725 — — 0820EA FBMKLCI-EA 1.875 — — — — 1.76 3.1
1.426 1.100 1.140 1.130 1503 GUOCO 1.130 -0.020 152.9 1.130 6.17 1.77 791.5 1.775 1.705 — — 0828EA GOLDETF 1.775 — — — — — 33.0
1.430 0.829 — — 7105 HCK 1.280 — — — 98.46 — 539.1 1.100 1.000 — — 0826EA METFAPA 1.080 — — — — — 20.5
1.210 0.380 0.750 0.750 7010 HOOVER 0.750 UNCH 25.8 0.750 120.97 — 30.0 0.945 0.886 — — 0825EA METFSID 0.916 — — — — 2.55 48.5
1.160 0.595 0.725 0.675 5062 HUAYANG 0.685 -0.025 379 0.697 10.77 5.84 241.1 1.180 1.060 — — 0821EA MYETFDJ 1.150 — — — — 1.94 312.2
0.648 0.510 0.540 0.535 4251 IBHD 0.535 UNCH 78.4 0.536 7.60 3.51 539.4 1.175 1.015 — — 0824EA MYETFID 1.160 — — — — 1.31 51.0
0.990 0.755 0.905 0.850 5084 IBRACO 0.905 0.085 20.2 0.891 34.94 2.21 449.2 REITS
0.890 0.595 — — 9687 IDEAL 0.700 — — — 4.14 — 77.3 0.963 0.810 0.815 0.815 4952 AHP 0.815 UNCH 1 0.815 76.89 5.15 179.3
3.000 2.337 2.980 2.970 1597 IGB 2.970 UNCH 2235.4 2.970 13.29 3.37 4,054.9 1.615 1.350 1.380 1.370 5116 ALAQAR 1.370 -0.010 11.2 1.380 16.19 5.51 997.7
2.158 1.790 1.980 1.950 5249 IOIPG 1.980 UNCH 1699.3 1.955 11.07 3.03 10,902.2 1.040 0.965 0.975 0.975 5269 ALSREIT 0.975 UNCH 4.1 0.975 11.65 6.41 565.5
0.620 0.315 0.330 0.325 5175 IVORY 0.325 0.005 110 0.328 14.57 — 159.3 0.799 0.670 0.680 0.675 5120 AMFIRST 0.675 UNCH 31 0.678 18.80 6.30 463.3
3.290 0.870 1.390 1.380 1589 IWCITY 1.380 -0.020 1029.3 1.382 41.07 — 1,155.6 0.949 0.900 0.910 0.905 5127 ARREIT 0.910 0.005 14.7 0.907 13.23 6.12 521.6
0.370 0.245 0.340 0.330 8923 JIANKUN 0.335 0.010 1053.2 0.333 — — 55.9 1.189 1.016 1.110 1.090 5130 ATRIUM 1.090 -0.020 111.6 1.100 21.41 6.56 132.8
0.143 0.085 0.090 0.090 6769 JKGLAND 0.090 UNCH 983.9 0.090 9.78 2.56 204.7 1.645 1.390 1.460 1.440 5106 AXREIT 1.450 UNCH 538.8 1.449 15.64 6.03 1,786.9
0.085 0.050 0.070 0.065 3115 KBUNAI 0.065 -0.005 3260 0.070 12.50 — 375.5 1.830 1.390 1.420 1.400 5180 CMMT 1.410 0.010 209.2 1.410 19.00 5.94 2,873.2
1.100 0.818 0.880 0.880 7323 KEN 0.880 UNCH 37 0.880 3.77 2.84 168.7 1.532 1.140 1.220 1.210 5121 HEKTAR 1.220 UNCH 44.9 1.211 15.33 9.37 563.6
1.330 0.995 1.080 1.060 5038 KSL 1.070 -0.010 223.7 1.071 3.76 — 1,110.1 1.800 1.550 1.620 1.600 5227 IGBREIT 1.610 -0.010 2575.4 1.609 19.01 5.39 5,656.7
0.268 0.205 0.220 0.215 3174 L&G 0.215 -0.005 2640.3 0.215 6.91 — 629.9 0.991 0.830 0.860 0.840 5280 KIPREIT 0.840 -0.020 289 0.847 13.55 4.67 424.5
1.287 1.000 1.040 1.010 8494 LBICAP 1.040 0.030 21.1 1.038 547.37 10.10 83.9 8.640 7.780 7.920 7.860 5235SS KLCC 7.900 -0.050 993.3 7.900 16.22 4.51 14,262.1
2.480 1.637 2.340 2.310 5789 LBS 2.340 -0.010 1205.6 2.323 14.27 1.71 1,618.3 1.320 1.190 1.220 1.210 5123 MQREIT 1.220 0.010 79.8 1.212 15.60 10.40 1,303.0
0.460 0.235 0.375 0.360 3573 LIENHOE 0.370 -0.005 287.6 0.363 — — 133.8 1.866 1.590 1.640 1.610 5212 PAVREIT 1.610 -0.010 386.8 1.613 16.30 4.99 4,878.5
1.690 1.180 1.300 1.300 7617 MAGNA 1.300 0.050 0.5 1.300 — 4.62 435.4 1.900 1.593 1.740 1.720 5176 SUNREIT 1.730 UNCH 3562.1 1.732 11.58 5.54 5,095.0
1.590 1.319 1.480 1.460 8583 MAHSING 1.470 -0.010 205.9 1.464 11.00 4.42 3,566.9 1.230 1.123 1.210 1.210 5111 TWRREIT 1.210 UNCH 57.1 1.210 18.14 5.73 339.4
1.892 0.653 1.000 0.960 6181 MALTON 0.995 0.020 1245.2 0.978 6.14 2.51 525.5 1.796 1.600 1.620 1.610 5110 UOAREIT 1.620 UNCH 12.7 1.615 15.64 5.83 685.1
2.280 1.765 2.200 2.190 5236 MATRIX 2.200 UNCH 270.6 2.196 8.68 5.30 1,635.3 1.280 1.094 1.210 1.190 5109 YTLREIT 1.190 -0.020 1321.9 1.200 53.85 5.39 2,028.2
2.310 1.073 2.230 2.180 7189 MBWORLD 2.180 -0.090 6.6 2.210 8.78 1.61 343.1 SPAC
1.200 0.755 0.880 0.875 5182 MCT 0.875 -0.005 257.2 0.875 18.82 — 1,167.9 0.720 0.715 — — 5234 CLIQ 0.720 — — — — — 454.3
0.525 0.395 0.450 0.440 5040 MEDAINC 0.450 UNCH 12 0.441 — — 221.6 0.480 0.430 0.475 0.470 5270 RSENA 0.470 UNCH 132 0.471 — — 470.0
0.567 0.460 0.470 0.465 1694 MENANG 0.470 0.005 250.4 0.466 20.80 — 226.0 0.480 0.475 — — 5241 SONA 0.475 — — — — — 670.1
0.605 0.285 0.375 0.360 8141 MJPERAK 0.365 0.005 57 0.368 — 5.86 93.8
2.539 1.583 1.790 1.750 6114 MKH 1.760 -0.020 77.9 1.767 6.21 2.84 1,032.3
0.360 0.235 0.240 0.240 8893 MKLAND 0.240 UNCH 336.2 0.240 15.79 — 289.7
0.215 0.095 0.135 0.135 6548 MPCORP 0.135 -0.005 620.6 0.135 — — 38.8
1.536 0.870 1.240 1.160 1651 MRCB 1.170 -0.070 16330.2 1.187 11.45 2.05 5,132.5
1.080 0.525
0.365 0.255
1.720 1.020
—
0.270
1.150
—
0.255
1.090
9539
3913
5073
MUH
MUIPROP
NAIM
0.600
0.255
1.090
—
-0.015
-0.060
165.5
322.6
— — —
0.263 212.50
1.116 —
—
—
—
33.9
194.8
272.5
Ace Market
2.881 2.192 — — 5827 OIB 2.280 — — — 8.45 3.07 330.3 YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP
1.116 1.020 1.070 1.050 5053 OSK 1.070 0.010 354.4 1.062 5.34 4.67 2,242.0 HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL)
1.980 1.371 1.920 1.890 1724 PARAMON 1.920 0.010 208.4 1.904 5.85 4.43 814.6
0.695 0.490 0.600 0.575 6912 PASDEC 0.600 0.020 203 0.590 — — 171.6 CONSUMER PRODUCTS
1.983 1.051 — — 7055 PLB 1.850 — — — 50.55 0.43 207.9 0.285 0.210 0.250 0.245 0179 BIOHLDG 0.250 Unch 609.1 0.248 28.41 0.40 202.3
1.766 1.495 1.540 1.540 5075 PLENITU 1.540 UNCH 8 1.540 10.10 2.92 587.6 0.300 0.190 0.195 0.190 0170 KANGER 0.195 Unch 450 0.193 18.75 — 155.7
0.425 0.250 0.400 0.390 2208 PTGTIN 0.400 UNCH 55 0.393 — — 138.4 0.295 0.195 0.200 0.200 0182 LKL 0.200 Unch 257.5 0.200 90.91 1.75 85.8
1.270 0.800 0.860 0.855 4596 SAPRES 0.855 -0.005 40 0.855 9.07 3.51 119.4 0.450 0.220 0.290 0.290 0148 SUNZEN 0.290 Unch 139 0.290 27.62 1.03 139.9
0.820 0.540 0.560 0.540 5207 SBCCORP 0.540 -0.010 229.5 0.548 — — 126.8 0.085 0.030 0.085 0.065 0095 XINGHE 0.070 0.010 271600 0.074 6.60 — 164.4
1.012 0.671 0.925 0.905 2224 SDRED 0.905 -0.035 225.3 0.915 7.14 2.76 385.6 INDUSTRIAL PRODUCTS
0.580 0.390 0.445 0.440 4286 SEAL 0.445 0.005 17.5 0.443 — — 108.1 0.192 0.105 0.135 0.120 0105 ASIAPLY 0.125 -0.010 4400.1 0.126 13.74 4.00 42.9
0.130 0.090 0.110 0.110 0072 AT 0.110 Unch 30 0.110 — — 46.4
2.860 2.640 — — 6017 SHL 2.660 — — — 7.94 — 644.0 0.445 0.255 0.310 0.305 0163 CAREPLS 0.305 -0.005 548.6 0.309 217.86 — 154.4
1.780 1.040 1.560 1.520 5288 SIMEPROP 1.550 0.030 7301.9 1.548 1.74 — 10,541.3 0.330 0.130 0.200 0.195 0102 CONNECT 0.200 Unch 901.2 0.198 21.74 — 64.8
0.305 0.140 0.210 0.200 4375 SMI 0.200 -0.010 160 0.205 1.55 — 42.0 0.443 0.320 0.335 0.330 0190 ESAFE 0.330 -0.005 30 0.334 48.53 — 79.4
0.907 0.599 0.635 0.615 5213 SNTORIA 0.635 UNCH 264.1 0.631 9.06 — 360.2 0.505 0.235 0.285 0.275 0100 ESCERAM 0.275 Unch 154.7 0.278 11.36 2.18 56.5
5.500 4.211 4.990 4.890 1783 SPB 4.890 -0.110 4.2 4.910 18.14 2.45 1,680.3 0.370 0.215 0.260 0.255 0175 HHGROUP 0.260 Unch 710 0.260 36.11 — 80.3
4.151 2.896 3.300 3.280 8664 SPSETIA 3.300 UNCH 4080.7 3.292 11.08 5.90 11,312.4 0.145 0.080 0.105 0.105 0160 HHHCORP 0.105 Unch 465.8 0.105 19.09 — 35.0
1.590 0.970 1.280 1.270 3743 SUNSURIA 1.270 0.010 127.3 1.271 11.19 — 1,014.5 0.355 0.222 0.295 0.285 0188 HLT 0.285 -0.010 557.6 0.290 — — 113.5
1.035 0.609 0.765 0.760 1538 SYMLIFE 0.760 -0.005 42 0.765 5.58 3.95 235.6 0.555 0.205 0.425 0.410 0162 IJACOBS 0.415 0.010 1283.3 0.418 35.17 — 56.8
0.510 0.280 0.340 0.335 4022 TADMAX 0.335 -0.015 130.2 0.338 — — 180.4 0.153 0.090 0.105 0.100 0024 JAG 0.100 Unch 1524.5 0.100 13.33 0.90 137.8
0.410 0.250 0.385 0.380 5158 TAGB 0.385 UNCH 1348 0.385 6.67 1.04 2,048.9 0.250 0.130 0.190 0.185 0025 LNGRES 0.190 Unch 273.8 0.189 21.11 — 46.0
0.055 0.035 0.045 0.040 2259 TALAMT 0.045 UNCH 2509.8 0.045 — — 189.9 0.115 0.040 0.075 0.065 0070 MQTECH 0.070 0.010 23556.3 0.070 — — 29.0
1.465 0.995 1.070 1.050 5191 TAMBUN 1.060 UNCH 204.7 1.060 4.43 9.43 459.3 0.848 0.395 0.700 0.690 0049 OCNCASH 0.690 -0.005 240.4 0.693 14.29 1.16 153.9
0.165 0.060 0.140 0.140 2429 TANCO 0.140 UNCH 585.8 0.140 — — 92.6 0.610 0.140 0.300 0.295 0038 PTB 0.295 -0.010 50 0.297 — — 44.4
0.315 0.180 — — 7889 THRIVEN 0.225 — — — — — 84.8 0.175 0.100 0.135 0.130 0133 SANICHI 0.135 Unch 408.7 0.131 — — 42.2
0.085 0.040 0.045 0.040 7079 TIGER 0.040 -0.005 3090 0.041 — — 67.0 0.060 0.025 0.040 0.035 0109 SCBUILD 0.040 Unch 436 0.039 — — 35.3
0.910 0.650 0.730 0.705 5239 TITIJYA 0.710 -0.010 525.5 0.718 7.19 0.35 954.5 0.440 0.125 0.390 0.375 0001 SCOMNET 0.380 Unch 1102.4 0.381 37.62 — 92.3
1.060 0.880 0.915 0.905 5401 TROP 0.915 0.005 261.9 0.909 8.88 2.19 1,345.4 0.289 0.147 0.195 0.185 0028 SCOPE 0.195 0.005 188.2 0.188 26.71 2.56 109.3
0.290 0.140 0.180 0.175 0055 SERSOL 0.175 Unch 220 0.180 — — 37.7
1.360 1.010 1.160 1.140 5148 UEMS 1.150 -0.010 1744.9 1.151 17.67 — 5,218.1 0.875 0.140 0.520 0.500 0084 TECFAST 0.505 0.005 907.6 0.510 26.86 0.75 115.2
2.700 2.200 2.470 2.440 5200 UOADEV 2.470 -0.010 1275.1 2.458 6.21 6.07 4,283.6 TECHNOLOGY
0.525 0.210 0.300 0.295 6378 WMG 0.295 -0.010 166.7 0.299 — — 125.7 0.995 0.285 0.600 0.600 0018 ACCSOFT 0.600 Unch 10 0.600 28.30 — 499.7
1.110 0.905 0.950 0.950 7003 Y&G 0.950 -0.020 1.4 0.950 33.93 — 189.4 0.750 0.230 0.640 0.610 0181 AEMULUS 0.640 0.030 7827.3 0.631 37.21 — 280.9
1.620 1.300 1.430 1.390 3158 YNHPROP 1.410 -0.010 192.1 1.405 25.54 — 745.9 0.455 0.310 0.380 0.370 0119 APPASIA 0.375 -0.005 1562.4 0.377 — — 129.4
1.750 1.210 1.640 1.590 7066 YONGTAI 1.600 -0.040 1157.8 1.619 39.70 — 769.0 0.450 0.120 0.185 0.170 0068 ASDION 0.170 -0.005 894.3 0.178 — — 19.8
0.670 0.500 0.525 0.515 2577 YTLLAND 0.515 UNCH 186 0.520 8.24 — 434.8 1.010 0.580 0.860 0.820 0098 BAHVEST 0.855 0.025 3560.8 0.844 — — 514.5
MINING 0.650 0.535 0.570 0.535 0195 BINACOM 0.545 -0.020 5744.7 0.546 — 0.92 141.7
2.820 1.170 2.420 2.250 2186 KUCHAI 2.300 -0.040 670.8 2.350 5.73 0.42 284.6 0.764 0.585 0.620 0.620 0191 CABNET 0.620 Unch 16 0.620 12.09 — 80.6
PLANTATIONS 0.250 0.030 0.140 0.125 0152 DGB 0.130 -0.010 13469.2 0.131 92.86 — 74.5
0.285 0.190 — — 7054 AASIA 0.200 — — — — — 132.0 0.160 0.030 0.130 0.120 0131 DGSB 0.125 -0.010 61260.8 0.125 1250.0 — 169.5
20.100 18.150 19.820 19.800 1899 BKAWAN 19.800 -0.080 349.7 19.800 13.65 3.03 8,631.8 0.068 0.040 0.050 0.045 0154 EAH 0.050 0.005 12282.5 0.046 35.71 — 173.9
8.639 8.340 — — 5069 BLDPLNT 8.340 — — — 36.50 0.48 779.8 0.215 0.115 0.135 0.130 0107 EDUSPEC 0.130 -0.010 730.2 0.132 — — 130.2
1.704 1.461 1.680 1.660 5254 BPLANT 1.680 0.010 2727.5 1.670 3.96 7.14 2,688.0 0.500 0.080 0.415 0.410 0116 FOCUS 0.410 -0.010 509.8 0.410 — — 320.9
1.000 0.776 0.845 0.820 8982 CEPAT 0.825 -0.015 444.1 0.825 8.81 1.82 262.7 1.750 0.820 1.150 1.130 0104 GENETEC 1.150 0.040 11.4 1.141 — — 40.8
8.141 7.268 — — 1929 CHINTEK 7.960 — — — 17.94 2.51 727.3 0.090 0.035 — — 0045 GNB 0.035 — — — — — 10.1
0.735 0.415 0.590 0.575 3948 DUTALND 0.585 -0.005 1018.3 0.582 172.06 — 495.0 0.195 0.080 0.160 0.160 0074 GOCEAN 0.160 Unch 340 0.160 — — 46.4
0.100 0.045 0.060 0.060 0174 IDMENSN 0.060 Unch 3274.4 0.060 60.00 — 32.6
9.693 7.821 — — 5029 FAREAST 8.720 — — — 9.12 3.44 1,232.9 0.533 0.330 0.370 0.360 0023 IFCAMSC 0.360 -0.010 2459.4 0.362 18.95 1.39 219.0
2.180 1.468 2.060 1.930 5222 FGV 1.980 -0.070 14852.9 2.015 36.26 0.51 7,223.3 0.145 0.060 0.105 0.100 0094 INIX 0.100 -0.005 3052 0.101 — — 25.4
11.614 10.200 10.640 10.500 2291 GENP 10.540 -0.100 436.3 10.542 19.84 1.28 8,468.0 0.245 0.115 0.225 0.205 0010 IRIS 0.220 0.015 33245.1 0.218 — — 543.8
0.658 0.550 0.560 0.560 7382 GLBHD 0.560 UNCH 51 0.560 373.33 1.79 124.8 1.450 0.275 1.170 1.130 0146 JFTECH 1.170 0.040 78.2 1.144 34.11 1.03 245.7
1.440 1.105 1.380 1.380 2135 GOPENG 1.380 UNCH 10 1.380 48.94 2.90 247.5 3.398 0.838 3.090 3.030 0127 JHM 3.090 0.040 324.8 3.064 25.71 0.49 812.1
0.890 0.605 — — 7501 HARNLEN 0.650 — — — 19.46 — 120.6 0.270 0.150 0.195 0.195 0111 K1 0.195 -0.005 357 0.195 — — 101.2
2.700 2.550 2.550 2.550 5138 HSPLANT 2.550 UNCH 9.6 2.550 15.23 5.69 2,040.0 0.460 0.100 0.140 0.130 0036 KGROUP 0.135 -0.005 7248 0.135 — — 57.8
3.519 2.470 2.510 2.470 2216 IJMPLNT 2.490 UNCH 122.3 2.488 30.51 2.81 2,192.6 1.280 0.315 0.800 0.755 0176 KRONO 0.755 -0.010 5099.4 0.779 17.72 — 247.6
0.940 0.650 0.735 0.700 2607 INCKEN 0.715 -0.015 459.9 0.714 — 1.57 300.8 0.180 0.050 0.150 0.145 0017 M3TECH 0.145 Unch 8776.5 0.146 — — 85.1
1.452 1.026 1.110 1.090 6262 INNO 1.100 -0.010 29 1.097 14.10 1.82 526.7 0.690 0.225 0.660 0.635 0075 MEXTER 0.640 -0.015 579.1 0.645 — — 155.5
4.757 4.310 4.660 4.630 1961 IOICORP 4.660 0.030 9066.6 4.648 29.89 2.04 29,282.8 0.535 0.350 — — 0155 MGRC 0.350 — — — — — 36.2
1.460 1.000 1.100 1.080 4383 JTIASA 1.090 -0.010 1074.9 1.088 49.77 0.46 1,061.4 1.200 0.610 0.750 0.695 0126 MICROLN 0.750 0.005 39.5 0.727 12.16 — 125.5
25.400 22.521 25.280 25.180 2445 KLK 25.200 -0.020 1282 25.201 26.68 1.98 26,901.1 0.583 0.430 0.455 0.440 0112 MIKROMB 0.445 Unch 410.4 0.448 18.70 3.21 191.7
5.000 2.982 4.260 4.180 2453 KLUANG 4.200 -0.090 12 4.199 63.06 0.24 265.3 0.465 0.065 0.090 0.085 0085 MLAB 0.085 -0.005 4039.6 0.085 — — 48.5
4.835 3.176 4.380 4.300 5027 KMLOONG 4.380 0.070 24.2 4.355 14.15 3.88 1,365.7 0.268 0.153 0.190 0.180 0034 MMAG 0.180 -0.005 7035.6 0.183 — — 82.0
0.682 0.515 0.630 0.615 1996 KRETAM 0.620 UNCH 2008.9 0.626 41.61 1.61 1,443.1 2.028 0.561 1.730 1.680 0113 MMSV 1.700 -0.010 309.7 1.702 13.13 1.18 277.1
1.750 1.350 1.430 1.430 6572 KWANTAS 1.430 0.030 20 1.430 11.22 — 445.7 0.130 0.055 0.100 0.095 0103 MNC 0.095 Unch 4043.9 0.095 — — 45.4
0.310 0.185 0.220 0.215 0156 MPAY 0.215 Unch 1723 0.215 — — 152.8
1.500 1.170 — — 4936 MALPAC 1.200 — — — — — 90.0 0.684 0.121 0.155 0.145 0092 MTOUCHE 0.150 Unch 881.9 0.150 21.74 — 76.3
0.949 0.790 0.840 0.840 5026 MHC 0.840 -0.005 10 0.840 10.42 1.79 165.1 1.140 0.616 1.030 0.990 0108 N2N 1.010 Unch 2023.2 1.009 22.39 1.98 482.0
2.388 1.700 — — 5047 NPC 1.810 — — — 6.07 0.55 217.2 0.110 0.020 0.050 0.040 0020 NETX 0.050 0.005 545194 0.046 20.00 — 114.8
4.206 3.671 — — 2038 NSOP 3.900 — — — 31.58 1.54 273.8 0.055 0.030 0.045 0.040 0096 NEXGRAM 0.045 0.005 44678.2 0.040 — — 84.7
0.315 0.185 0.230 0.210 1902 PINEPAC 0.230 UNCH 13 0.218 — — 34.5 0.150 0.070 0.125 0.115 0026 NOVAMSC 0.120 Unch 7433.7 0.120 — — 82.0
1.380 0.850 — — 9695 PLS 0.865 — — — — — 282.6 0.662 0.355 0.400 0.385 0035 OPCOM 0.395 Unch 308.7 0.391 23.10 10.13 63.7
0.550 0.365 0.380 0.370 5113 RSAWIT 0.370 -0.010 996.9 0.374 — — 524.8 0.379 0.280 0.305 0.300 0040 OPENSYS 0.305 -0.005 482.3 0.304 19.30 3.28 90.9
4.000 3.341 3.920 3.920 2542 RVIEW 3.920 0.020 1 3.920 14.61 2.04 254.2 0.380 0.115 0.150 0.135 0079 ORION 0.135 -0.005 23181.4 0.140 — — 80.9
4.180 2.931 3.570 3.500 2569 SBAGAN 3.500 -0.100 30.4 3.542 — 0.57 232.2 0.015 0.005 — — 0022 PARLO 0.050 — — — — — 0.5
0.720 0.510 0.610 0.610 4316 SHCHAN 0.610 -0.020 20 0.610 — — 73.2 0.230 0.135 0.155 0.145 0123 PRIVA 0.145 Unch 1304 0.150 — — 80.9
6.000 4.580 5.520 5.430 5285 SIMEPLT 5.500 UNCH 9453.7 5.500 10.25 — 37,404.6 0.944 0.535 0.785 0.780 0106 REXIT 0.785 Unch 215.3 0.785 18.09 3.82 148.6
4.720 3.480 4.110 4.070 5126 SOP 4.100 -0.020 9.8 4.087 10.06 1.22 2,340.4 0.430 0.261 0.330 0.325 0178 SEDANIA 0.330 Unch 488.9 0.330 76.74 3.03 74.5
1.890 1.520 1.810 1.800 5135 SWKPLNT 1.800 -0.010 168.4 1.801 14.54 — 504.0 0.190 0.060 0.090 0.085 0060 SKH 0.085 Unch 4817.9 0.085 35.42 — 47.1
0.730 0.435 0.500 0.495 2054 TDM 0.495 -0.005 397.7 0.496 450.00 1.01 820.6 0.280 0.120 0.255 0.245 0169 SMTRACK 0.250 Unch 8374.9 0.252 — — 34.0
1.184 1.020 1.090 1.070 5112 THPLANT 1.080 0.010 18.1 1.075 6.07 1.48 954.6 0.343 0.205 0.240 0.235 0093 SOLUTN 0.235 Unch 146.7 0.235 8.05 4.26 72.0
1.918 1.560 1.660 1.650 9059 TSH 1.650 UNCH 110.6 1.650 31.91 1.21 2,280.0 0.360 0.115 0.240 0.230 0129 SRIDGE 0.240 0.005 6346.9 0.237 — — 29.0
0.470 0.220 0.330 0.320 0050 SYSTECH 0.320 -0.010 943.5 0.327 60.38 0.94 111.3
7.080 5.656 6.610 6.580 2593 UMCCA 6.600 -0.040 142 6.590 16.88 2.73 1,383.3 0.180 0.130 0.140 0.135 0132 TDEX 0.135 Unch 387 0.140 112.50 — 66.7
28.500 25.724 28.200 27.920 2089 UTDPLT 27.960 -0.240 1299 27.959 14.51 1.43 5,819.4 0.515 0.055 0.455 0.435 0005 UCREST 0.445 Unch 6060.6 0.447 51.74 — 167.6
HOTELS 0.965 0.266 0.570 0.540 0120 VIS 0.560 0.015 588.2 0.555 13.97 0.59 94.4
0.628 0.505 0.530 0.530 5592 GCE 0.530 -0.005 44.5 0.530 — 3.77 104.4 0.190 0.115 0.140 0.135 0069 VIVOCOM 0.135 Unch 15584.4 0.135 32.14 — 458.2
1.000 0.690 0.840 0.825 1643 LANDMRK 0.825 -0.015 248.1 0.831 — — 436.3 0.155 0.070 0.135 0.135 0066 VSOLAR 0.135 Unch 1845 0.135 — — 52.1
0.230 0.125 0.155 0.150 1287 PMHLDG 0.150 -0.005 335 0.150 375.00 — 139.3 0.060 0.020 — — 0141 WINTONI 0.035 — — — — — 18.0
5.588 4.832 5.020 4.940 5517 SHANG 5.020 -0.030 2.4 5.010 28.67 2.79 2,208.8 0.275 0.105 0.180 0.180 0086 YGL 0.180 Unch 279.9 0.180 — — 41.8
TECHNOLOGY TRADING SERVICES
0.880 0.600 — — 7031 AMTEL 0.660 — — — — — 32.5 0.400 0.210 — — 0122 AIM 0.250 — — — — — 66.5
0.420 0.205 0.265 0.255 5195 CENSOF 0.255 -0.010 699.6 0.258 — — 127.9 0.165 0.075 0.115 0.115 0048 ANCOMLB 0.115 Unch 149.9 0.115 — — 54.4
0.630 0.130 0.570 0.545 0051 CUSCAPI 0.560 0.010 4627.1 0.560 — — 280.7 0.250 0.155 0.170 0.165 0187 BCMALL 0.170 Unch 424.2 0.168 28.81 — 71.6
0.800 0.303 0.685 0.670 7204 D&O 0.670 -0.025 2680.9 0.674 44.08 — 673.9 0.392 0.280 0.300 0.300 0011 BTECH 0.300 Unch 10 0.300 18.99 5.33 75.6
0.710 0.165 0.305 0.285 8338 DATAPRP 0.290 -0.015 3361.3 0.293 — — 122.2 0.235 0.118 0.155 0.150 0150 FINTEC 0.150 Unch 8378.8 0.150 0.92 — 70.3
0.235 0.120 0.130 0.125 0029 DIGISTA 0.130 0.005 1310.5 0.129 — — 85.6 0.320 0.180 — — 0157 FOCUSP 0.190 — — — — — 31.4
1.543 1.210 1.300 1.280 5162 ECS 1.290 -0.010 84.8 1.285 8.49 4.26 232.2 0.759 0.430 0.565 0.530 0039 GFM 0.550 -0.005 873.3 0.550 22.45 2.64 235.5
1.670 0.652 1.570 1.520 0065 EFORCE 1.530 -0.030 323.4 1.540 96.84 0.82 633.0 0.900 0.600 — — 0147 INNITY 0.620 — — — — — 85.8
2.895 1.324 2.700 2.690 0090 ELSOFT 2.700 -0.040 88.4 2.698 24.06 1.85 743.6 0.330 0.245 0.280 0.270 0193 KAB 0.275 -0.005 2721.4 0.275 9.45 — 88.0
0.310 0.170 0.215 0.200 0180 KTC 0.205 Unch 684.5 0.206 107.89 — 104.6
1.870 0.870 1.530 1.490 0021 GHLSYS 1.530 0.010 240 1.517 50.00 0.33 1,009.0 0.350 0.145 — — 0167 MCLEAN 0.190 — — — — — 34.0
0.590 0.230 0.590 0.555 0082 GPACKET 0.580 0.010 18899.8 0.575 — — 440.1 0.440 0.200 0.215 0.205 0081 MEGASUN 0.210 Unch 54 0.211 10.55 — 46.1
0.280 0.185 0.255 0.240 0056 GRANFLO 0.240 -0.005 125.8 0.247 16.55 — 115.9 0.280 0.170 — — 0153 OVERSEA 0.200 — — — — — 49.3
7.050 3.578 6.540 6.470 7022 GTRONIC 6.490 UNCH 1014.7 6.493 56.53 0.62 1,852.6 0.200 0.115 0.135 0.135 0177 PASUKGB 0.135 Unch 489 0.135 — — 109.6
0.940 0.523 0.745 0.740 5028 HTPADU 0.740 -0.005 51 0.744 8.75 6.76 74.9 0.450 0.260 0.440 0.400 0006 PINEAPP 0.400 -0.040 2.1 0.402 71.43 — 19.4
3.820 1.938 3.330 3.290 0166 INARI 3.320 UNCH 4705 3.308 26.35 2.59 6,826.8 0.364 0.228 0.335 0.330 0171 PLABS 0.330 -0.005 188 0.332 19.88 1.82 70.9
0.435 0.125 0.210 0.190 9393 ITRONIC 0.205 0.015 438.5 0.203 — — 21.1 0.350 0.127 0.295 0.285 0186 PTRANS 0.290 -0.005 4607.2 0.290 12.83 3.14 364.6
0.668 0.415 0.450 0.440 5161 JCY 0.445 -0.005 965.9 0.444 20.99 8.43 924.2 0.355 0.075 0.320 0.300 0007 PUC 0.300 -0.010 112031 0.309 176.47 — 444.5
22.635 9.374 20.200 20.020 9334 KESM 20.100 UNCH 40.1 20.068 19.06 0.62 864.6 0.005 0.005 — — 0110 RA 0.005 — — — 10.00 — 4.8
0.340 0.080 0.210 0.200 0143 KEYASIC 0.205 -0.005 5437.9 0.207 — — 182.6 0.615 0.285 0.380 0.375 0032 REDTONE 0.375 Unch 120.2 0.376 — — 284.3
14.410 7.452 11.960 11.740 3867 MPI 11.740 -0.060 426.4 11.827 12.78 2.47 2,464.0 0.635 0.380 0.420 0.410 0173 REV 0.415 -0.005 390.2 0.413 1.06 — 55.9
1.467 0.965 1.320 1.310 5011 MSNIAGA 1.310 0.010 15 1.313 13.88 3.82 79.1 0.698 0.452 0.550 0.540 0158 SCC 0.540 -0.010 68 0.540 12.39 5.78 76.2
1.327 0.455 0.750 0.720 0083 NOTION 0.735 UNCH 2456.1 0.737 16.08 3.74 243.0 0.275 0.165 0.210 0.205 0161 SCH 0.210 0.010 6715.4 0.206 48.84 — 86.6
0.605 0.435 0.515 0.505 9008 OMESTI 0.510 0.010 124.4 0.511 — — 219.8 0.300 0.145 0.205 0.190 0117 SMRT 0.195 -0.010 317.6 0.198 — — 70.6
0.375 0.225 0.240 0.240 0041 PANPAGE 0.240 UNCH 611.3 0.240 — — 63.7 0.315 0.100 0.310 0.290 0140 STERPRO 0.290 -0.020 902.4 0.298 — — 85.5
3.140 0.660 2.870 2.790 7160 PENTA 2.820 -0.040 2122.8 2.818 25.18 — 892.8 0.300 0.109 0.290 0.285 0080 STRAITS 0.285 Unch 516.6 0.285 38.00 — 104.9
0.675 0.250 0.480 0.460 9075 THETA 0.465 -0.015 168.7 0.468 — — 49.9 0.907 0.750 — — 0089 TEXCYCL 0.780 — — — 10.53 0.51 199.8
0.230 0.125 0.155 0.150 0145 TFP 0.150 -0.005 150 0.152 — — 30.8
0.232 0.040 0.050 0.045 0118 TRIVE 0.050 UNCH 35491.2 0.050 100.00 — 92.7 0.145 0.095 0.125 0.120 0165 XOX 0.120 Unch 22096.3 0.122 18.75 — 112.4
4.158 2.291 3.310 3.160 5005 UNISEM 3.200 -0.100 2509.6 3.203 13.13 3.44 2,348.3 FINANCE
6.880 1.795 6.330 6.080 0097 VITROX 6.200 -0.150 261.4 6.177 35.80 0.56 2,915.1 0.965 0.415 0.615 0.615 0053 OSKVI 0.615 -0.005 0.3 0.615 3.52 3.25 121.5
* Volume Weighted Average Price # PE is calculated based on latest 12 months reported Earnings Per Share
2 8 Markets T HUR SDAY JAN UARY 1 8, 2 0 1 8 • TH E EDGE FI N AN C I AL DAI LY

B U R S A M A L AY S I A E Q U I T Y D E R I VAT I V E S

Bursa Malaysia Equity Derivatives YEAR

HIGH
YEAR
LOW
DAY
HIGH
DAY
LOW
CODE WARRANTS CLOSE
(RM)
+/-
(RM)
VOL PARENT
(‘000)
EXE
PRICE PRICE
PR’M
(%)
EXPIRY
DATE

Main Market & Ace Market Warrants 0.180

0.170
0.005
0.065
0.010
0.125
0.005
0.120
471526
471529
GENM-C26
GENM-C29
0.010
0.125
-0.005
-0.005
801
570
3.620
5.570
5.900
5.500
64.23
7.72
02/02/2018
31/07/2018
0.250 0.100 0.180 0.160 471530 GENM-C30 0.180 -0.005 2416.1 5.570 6.000 15.80 31/07/2018
YEAR YEAR DAY DAY CODE WARRANTS CLOSE +/- VOL PARENT EXE PR’M EXPIRY 0.145 0.070 0.105 0.095 471531 GENM-C31 0.105 -0.010 6389.5 5.570 5.800 13.18 24/07/2018
HIGH LOW HIGH LOW (RM) (RM) (‘000) PRICE PRICE (%) DATE 0.250 0.195 0.210 0.195 471532 GENM-C32 0.210 -0.005 124.2 5.570 5.100 6.64 27/07/2018
0.505 0.155 0.505 0.505 70310 A50CHIN-C10 0.505 0.060 5 8.366 7.844 2.82 28/03/2018 0.120 0.050 0.115 0.110 318246 GENTINGC46 0.115 0.015 118.5 9.610 9.850 8.48 31/07/2018
0.390 0.150 0.390 0.340 70312 A50CHIN-C12 0.350 -0.010 1215 8.365 8.603 9.12 28/06/2018 0.125 0.075 0.115 0.110 318247 GENTINGC47 0.115 0.010 140 9.610 9.990 12.33 31/07/2018
0.120 0.035 0.070 0.070 523811 AAX-C11 0.070 -0.005 581.2 0.385 0.380 16.88 21/06/2018 0.205 0.090 0.205 0.200 3204CA GKENT-CA 0.205 0.015 13 3.750 2.880 4.13 31/05/2018
0.310 0.145 0.190 0.180 5238WA AAX-WA 0.190 Unch 1023.7 0.385 0.460 68.83 08/06/2020 0.130 0.070 0.125 0.120 3204CD GKENT-CD 0.120 Unch 138.1 3.750 3.700 11.47 31/05/2018
0.140 0.005 0.005 0.005 6599CK AEON-CK 0.005 Unch 150 0.840 2.250 169.05 22/02/2018 0.230 0.085 0.100 0.095 1147WA GOB-WA 0.100 Unch 291 0.325 0.800 176.92 24/12/2019
0.330 0.065 0.130 0.120 7315WB AHB-WB 0.120 -0.010 212 0.245 0.200 30.61 28/08/2019 0.085 0.025 0.035 0.035 0074WA GOCEAN-WA 0.035 -0.005 1090 0.160 0.340 134.38 07/08/2019
0.230 0.055 0.200 0.190 509953 AIRASIAC53 0.200 0.005 1058 3.900 3.200 -2.56 02/02/2018 0.055 0.030 0.035 0.035 7096WA GPA-WA 0.035 Unch 4099.3 0.095 0.100 42.11 03/06/2025
0.220 0.095 0.200 0.190 509958 AIRASIAC58 0.200 -0.010 505.2 3.900 3.300 5.13 26/04/2018 0.275 0.110 0.150 0.140 7676WB GUNUNG-WB 0.140 Unch 306.1 0.430 0.400 25.58 02/10/2020
0.145 0.030 0.100 0.070 5014CV AIRPORT-CV 0.075 Unch 312.6 9.030 8.800 3.27 30/04/2018 0.195 0.090 0.095 0.090 7668CD HAIO-CD 0.090 -0.005 159.8 5.240 5.500 11.83 30/04/2018
0.420 0.165 0.185 0.180 7609WA AJIYA-WA 0.185 -0.005 293.1 0.620 0.920 78.23 28/08/2021 0.195 0.085 0.170 0.165 3034CV HAPSENG-CV 0.165 -0.010 35 9.690 9.000 1.39 30/04/2018
0.135 0.010 0.075 0.070 1015C1 AMBANK-C1 0.075 Unch 1698 4.750 5.000 10.00 30/04/2018 0.605 0.130 0.575 0.575 5168C1 HARTA-C1 0.575 -0.010 20 11.100 6.500 0.00 30/04/2018
0.145 0.055 0.120 0.120 1015C3 AMBANK-C3 0.120 -0.010 800 4.750 4.700 7.28 30/03/2018 0.675 0.180 0.615 0.610 5168C2 HARTA-C2 0.615 0.035 51.5 11.100 7.450 0.36 21/06/2018
0.260 0.080 0.250 0.230 1015C5 AMBANK-C5 0.250 Unch 43.8 4.750 4.300 3.68 28/09/2018 0.530 0.245 0.500 0.450 5168C3 HARTA-C3 0.500 0.020 182.5 11.100 9.600 9.01 31/07/2018
0.240 0.085 0.115 0.105 6556CE ANNJOO-CE 0.110 Unch 1221.9 3.560 3.100 0.98 02/02/2018 0.340 0.180 0.305 0.275 5168C4 HARTA-C4 0.305 0.020 3340.7 11.100 9.400 6.67 24/08/2018
0.170 0.085 0.100 0.100 6556CF ANNJOO-CF 0.100 -0.005 291.4 3.560 4.000 24.44 30/04/2018 0.355 0.260 0.315 0.305 5168C5 HARTA-C5 0.315 0.010 46.1 11.100 10.000 8.54 25/06/2018
0.115 0.045 0.050 0.050 6556CG ANNJOO-CG 0.050 Unch 210 3.560 4.380 29.07 14/05/2018 0.670 0.070 0.655 0.620 5168CZ HARTA-CZ 0.655 -0.015 4.1 11.100 7.500 0.02 12/02/2018
0.155 0.090 0.100 0.090 6556CH ANNJOO-CH 0.100 Unch 100 3.560 4.000 26.97 24/07/2018 1.170 0.170 0.685 0.580 4324CE HENGYUAN-CE 0.590 -0.050 1620.4 13.800 8.800 2.25 19/03/2018
0.130 0.070 0.080 0.080 6556CI ANNJOO-CI 0.080 -0.005 280.2 3.560 3.880 22.47 31/07/2018 0.995 0.125 0.645 0.590 4324CH HENGYUAN-CH 0.590 -0.035 4406.3 13.800 8.000 9.28 29/06/2018
0.085 0.060 0.060 0.060 6556CJ ANNJOO-CJ 0.060 -0.015 10 3.560 4.080 26.40 31/07/2018 0.620 0.145 0.390 0.360 4324CI HENGYUAN-CI 0.360 -0.015 435.8 13.800 7.880 9.28 29/06/2018
0.160 0.125 0.135 0.135 6556CK ANNJOO-CK 0.135 Unch 314.5 3.560 4.400 36.87 28/09/2018 0.595 0.125 0.370 0.320 4324CJ HENGYUAN-CJ 0.320 -0.020 2361.4 13.800 8.580 8.55 29/06/2018
0.275 0.030 0.040 0.040 9342WA ANZO-WA 0.040 Unch 14.2 0.090 0.250 222.22 19/11/2019 0.850 0.150 0.430 0.380 4324CK HENGYUAN-CK 0.380 -0.020 167.2 13.800 10.500 25.65 24/07/2018
0.265 0.040 0.050 0.050 9342WB ANZO-WB 0.050 Unch 2.4 0.090 0.250 233.33 25/08/2023 0.830 0.280 0.520 0.480 4324CL HENGYUAN-CL 0.480 Unch 41 13.800 10.600 18.55 31/07/2018
0.070 0.030 0.045 0.040 9342WC ANZO-WC 0.040 Unch 592 0.090 0.200 166.67 18/06/2020 0.670 0.310 0.375 0.325 4324CM HENGYUAN-CM 0.325 -0.020 3362.2 13.800 12.300 19.75 25/06/2018
0.335 0.180 0.280 0.270 0119WA APPASIA-WA 0.280 Unch 995 0.375 0.130 9.33 23/12/2024 0.290 0.160 0.200 0.170 4324CN HENGYUAN-CN 0.175 -0.015 6864.3 13.800 24.000 90.40 28/09/2018
0.100 0.005 0.025 0.015 521027 ARMADA-C27 0.020 -0.015 7931.9 0.830 0.835 3.01 02/02/2018 0.225 0.080 0.200 0.195 5072WB HIAPTEK-WB 0.200 0.005 1215.2 0.465 0.500 50.54 23/06/2021
0.240 0.085 0.160 0.155 521029 ARMADA-C29 0.160 -0.025 836.5 0.830 0.750 4.82 29/06/2018 0.480 0.300 0.375 0.360 8443WB HIL-WB 0.360 -0.035 28 0.850 1.080 69.41 25/10/2027
0.190 0.100 0.140 0.140 521030 ARMADA-C30 0.140 -0.010 150 0.830 0.750 7.23 29/06/2018 0.190 0.120 0.150 0.145 0188WA HLT-WA 0.145 -0.015 1116.1 0.285 0.200 21.05 27/12/2022
0.205 0.100 0.165 0.150 521032 ARMADA-C32 0.155 -0.010 560 0.830 0.670 5.00 29/06/2018 0.530 0.125 0.180 0.170 5169WA HOHUP-WA 0.180 -0.005 113.3 0.600 0.600 30.00 21/12/2018
0.095 0.040 0.070 0.065 521033 ARMADA-C33 0.065 -0.005 3122.7 0.830 0.800 10.48 24/07/2018 0.375 0.205 0.210 0.205 5160WA HOMERIZ-WA 0.205 -0.005 11 0.890 0.920 26.40 09/07/2020
0.090 0.040 0.065 0.060 521034 ARMADA-C34 0.060 -0.010 246.2 0.830 0.850 15.42 25/09/2018 0.225 0.135 0.180 0.175 7213WB HOVID-WB 0.175 Unch 268 0.355 0.180 0.00 05/06/2018
0.130 0.060 0.095 0.095 521035 ARMADA-C35 0.095 -0.005 50 0.830 0.850 15.00 31/07/2018 0.105 0.020 0.065 0.060 7013WB HUBLINE-WB 0.060 -0.010 2020.2 0.115 0.200 126.09 20/12/2020
0.350 0.030 0.055 0.050 0068WB ASDION-WB 0.055 0.005 208.7 0.170 0.500 226.47 24/03/2019 0.050 0.015 0.035 0.030 9601WD HWGB-WD 0.035 Unch 706 0.070 0.080 64.29 15/03/2021
0.105 0.065 0.085 0.075 4057WB ASIAPAC-WB 0.085 Unch 96.2 0.160 0.250 109.38 25/05/2022 0.235 0.105 0.115 0.115 4251WA IBHD-WA 0.115 -0.005 107.4 0.535 1.410 185.05 08/10/2019
0.121 0.035 0.060 0.050 0105WA ASIAPLY-WA 0.060 -0.005 102.3 0.125 0.100 28.00 13/12/2020 0.055 0.020 0.025 0.025 0174WA IDMENSN-WA 0.025 -0.005 30 0.060 0.100 108.33 14/07/2020
0.075 0.045 0.060 0.055 0105WB ASIAPLY-WB 0.055 -0.005 127 0.125 0.100 24.00 12/12/2022 0.150 0.090 0.125 0.115 5225C5 IHH-C5 0.115 -0.010 850 6.000 5.800 4.33 26/04/2018
0.140 0.035 0.055 0.050 6399C5 ASTRO-C5 0.050 -0.010 700 2.630 2.900 13.12 31/07/2018 0.175 0.070 0.175 0.175 5225C6 IHH-C6 0.175 0.015 400 6.000 5.700 3.75 31/07/2018
0.075 0.050 0.055 0.050 6399C6 ASTRO-C6 0.050 -0.025 20 2.630 3.100 21.67 25/06/2018 0.105 0.020 0.020 0.020 333610 IJM-C10 0.020 Unch 400 3.000 3.500 18.67 30/04/2018
0.664 0.095 0.295 0.265 7099WB ATTA-WB 0.285 0.005 640 0.995 0.870 16.08 09/05/2022 0.105 0.035 0.055 0.055 333611 IJM-C11 0.055 Unch 750 3.000 3.300 13.21 31/07/2018
0.608 0.145 0.285 0.255 7099WC ATTA-WC 0.255 -0.040 12.1 0.995 0.870 13.07 18/11/2024 0.160 0.090 0.110 0.110 333613 IJM-C13 0.110 -0.005 65 3.000 3.000 11.00 24/08/2018
0.120 0.040 0.055 0.055 0072WB AT-WB 0.055 Unch 50 0.110 0.090 31.82 17/10/2019 0.080 0.055 0.070 0.065 333614 IJM-C14 0.070 0.010 105 3.000 3.300 17.00 25/06/2018
0.165 0.045 0.080 0.080 688820 AXIATA-C20 0.080 -0.015 150 5.550 5.200 -0.54 28/02/2018 0.210 0.130 0.135 0.135 16610 INARI-C10 0.135 -0.005 1046 3.320 3.800 26.66 31/07/2018
0.220 0.155 0.175 0.170 688822 AXIATA-C22 0.175 -0.005 50 5.550 5.000 5.86 29/06/2018 0.195 0.115 0.120 0.120 16611 INARI-C11 0.120 Unch 417.8 3.320 3.200 14.46 30/08/2018
0.730 0.235 0.450 0.450 7078WA AZRB-WA 0.450 Unch 5 0.985 0.700 16.75 13/05/2024 0.440 0.080 0.285 0.285 0166C4 INARI-C4 0.285 Unch 75 3.320 2.500 1.05 26/04/2018
0.490 0.180 0.490 0.460 0098WA BAHVEST-WA 0.490 0.015 3517.8 0.855 0.870 59.06 20/08/2024 0.700 0.095 0.460 0.460 0166C6 INARI-C6 0.460 -0.020 55 3.320 2.400 0.00 30/04/2018
0.085 0.020 0.025 0.025 4162CJ BAT-CJ 0.025 Unch 100 32.600 43.500 35.35 31/07/2018 0.215 0.070 0.110 0.095 0166C7 INARI-C7 0.095 -0.015 5341.1 3.320 3.500 14.01 14/05/2018
0.270 0.075 0.205 0.185 5248CT BAUTO-CT 0.190 -0.030 123.9 2.300 2.100 3.70 31/07/2018 0.490 0.150 0.315 0.290 0166C9 INARI-C9 0.315 0.020 615.5 3.320 2.800 5.69 30/08/2018
0.150 0.010 0.010 0.010 5258CV BIMB-CV 0.010 -0.025 500 1.155 4.600 301.73 12/02/2018 0.115 0.020 0.075 0.065 0094WA INIX-WA 0.070 -0.005 2527.4 0.100 0.100 70.00 16/11/2020
0.100 0.090 0.090 0.090 5258CW BIMB-CW 0.090 -0.010 12.3 4.040 4.500 20.30 21/09/2018 0.545 0.180 0.365 0.345 3379WB INSAS-WB 0.350 -0.010 787.2 0.995 1.000 35.68 25/02/2020
0.450 0.265 0.305 0.295 5258WA BIMB-WA 0.305 Unch 533.5 4.040 4.720 24.38 04/12/2023 0.145 0.085 0.135 0.135 196115 IOICORP-C15 0.135 -0.005 0.3 4.660 4.550 4.16 31/07/2018
0.230 0.105 0.145 0.140 0179WA BIOHLDG-WA 0.145 0.005 984 0.250 0.220 46.00 05/01/2022 0.210 0.070 0.150 0.140 8834WB IREKA-WB 0.140 -0.010 312 0.740 1.000 54.05 25/06/2019
0.193 0.005 0.010 0.005 3239WA BJASSET-WA 0.005 -0.005 433 0.435 1.000 131.03 16/03/2018 0.070 0.020 0.035 0.030 7183WA IRETEX-WA 0.035 0.005 504.5 0.150 0.800 456.67 10/06/2019
0.095 0.045 0.050 0.045 3395C5 BJCORP-C5 0.050 Unch 1275.3 0.345 0.350 15.94 24/07/2018 0.063 0.027 0.040 0.040 0024WA JAG-WA 0.040 Unch 30 0.100 0.100 40.00 14/08/2019
0.070 0.030 0.035 0.035 3395C6 BJCORP-C6 0.035 Unch 500 0.345 0.420 31.88 31/07/2018 0.045 0.020 0.030 0.030 0024WB JAG-WB 0.030 Unch 1077.5 0.100 0.150 80.00 15/11/2020
0.065 0.045 0.045 0.045 3395C7 BJCORP-C7 0.045 -0.005 344.9 0.345 0.385 24.64 24/08/2018 0.095 0.015 0.020 0.020 5161C3 JCY-C3 0.020 -0.005 100 0.445 0.550 28.09 19/04/2018
0.160 0.070 0.085 0.085 3395WB BJCORP-WB 0.085 -0.005 838.8 0.345 1.000 214.49 22/04/2022 0.095 0.015 0.025 0.025 5161C5 JCY-C5 0.025 -0.005 3065 0.445 0.550 29.21 29/06/2018
0.175 0.050 0.110 0.110 3395WC BJCORP-WC 0.110 -0.005 1420 0.345 1.000 221.74 29/05/2026 0.080 0.020 0.020 0.020 5161C6 JCY-C6 0.020 Unch 140 0.445 0.585 35.96 29/06/2018
0.370 0.050 0.270 0.270 7187WA BKOON-WA 0.270 Unch 46.5 0.450 0.200 4.44 07/07/2023 0.170 0.050 0.055 0.055 9083WB JETSON-WB 0.055 Unch 45 0.255 0.750 215.69 06/02/2019
0.071 0.035 0.040 0.040 7036WC BORNOIL-WC 0.040 Unch 6971.5 0.085 0.070 29.41 08/11/2025 0.125 0.065 0.125 0.110 8923WA JIANKUN-WA 0.115 0.010 699.8 0.335 0.320 29.85 23/12/2021
0.065 0.035 0.045 0.040 7036WD BORNOIL-WD 0.040 -0.005 80.9 0.085 0.070 29.41 29/05/2027 0.105 0.005 0.005 0.005 4383CP JTIASA-CP 0.005 -0.005 50 0.545 1.150 112.39 30/01/2018
0.135 0.029 0.090 0.085 9938WB BRIGHT-WB 0.085 -0.005 296 0.260 0.650 182.69 12/01/2019 0.180 0.090 0.100 0.090 0170WA KANGER-WA 0.095 Unch 720.2 0.195 0.100 0.00 13/04/2020
0.135 0.040 0.060 0.050 7188WA BTM-WA 0.060 Unch 15.1 0.250 0.940 300.00 20/12/2019 0.155 0.015 0.030 0.025 5247C4 KAREX-C4 0.030 Unch 133.3 1.310 1.550 21.76 30/04/2018
0.150 0.020 0.075 0.070 181813 BURSA-C13 0.070 -0.005 132.8 10.560 10.500 2.75 30/03/2018 0.095 0.090 0.095 0.090 5247C9 KAREX-C9 0.095 Unch 116.2 1.310 1.400 25.00 28/09/2018
0.195 0.055 0.175 0.155 181814 BURSA-C14 0.175 0.020 117.1 10.560 10.000 4.64 29/06/2018 0.035 0.010 0.025 0.025 3115WC KBUNAI-WC 0.025 Unch 301.2 0.065 0.131 140.00 20/10/2023
0.470 0.225 0.250 0.230 7076WA CBIP-WA 0.250 -0.010 77.7 1.780 2.400 48.88 06/11/2019 0.490 0.090 0.380 0.345 0151WA KGB-WA 0.375 -0.005 112.2 0.820 0.500 6.71 12/06/2019
0.220 0.055 0.115 0.110 5195WB CENSOF-WB 0.110 -0.005 234 0.255 0.460 123.53 07/10/2019 0.140 0.010 0.020 0.015 0036WA KGROUP-WA 0.020 Unch 130.1 0.135 0.400 211.11 02/07/2018
0.290 0.150 0.270 0.260 102328 CIMB-C28 0.265 Unch 3306.2 6.770 6.000 4.28 30/04/2018 0.120 0.035 0.040 0.040 0036WB KGROUP-WB 0.040 Unch 720.4 0.135 0.200 77.78 01/05/2020
0.155 0.095 0.145 0.145 102329 CIMB-C29 0.145 0.010 96 6.770 6.380 11.37 31/07/2018 0.130 0.050 0.075 0.070 7164WB KNM-WB 0.070 -0.005 636.8 0.265 1.000 303.77 21/04/2020
0.260 0.140 0.245 0.245 102330 CIMB-C30 0.245 Unch 350 6.770 6.700 10.55 29/06/2018 0.095 0.060 0.075 0.070 7017WB KOMARK-WB 0.075 0.005 890.5 0.215 0.230 41.86 21/01/2020
0.160 0.155 0.160 0.155 285211 CMSB-C11 0.160 Unch 634.6 4.120 4.100 18.93 28/09/2018 0.250 0.140 0.215 0.200 7153CW KOSSAN-CW 0.215 0.010 540 8.260 8.000 13.77 24/08/2018
0.120 0.070 0.100 0.100 2852C8 CMSB-C8 0.100 -0.020 100.5 4.120 4.200 14.08 29/06/2018 0.250 0.125 0.145 0.130 7126WA LONBISC-WA 0.140 0.010 28.1 0.630 1.000 80.95 26/01/2020
0.205 0.050 0.110 0.100 0102WB CONNECT-WB 0.100 -0.015 1 0.200 0.100 0.00 07/06/2021 0.240 0.040 0.050 0.040 8583WB MAHSING-WB 0.040 -0.010 2179.7 1.470 1.440 0.68 16/03/2018
0.330 0.035 0.270 0.250 0051WA CUSCAPI-WA 0.260 0.010 1233.3 0.560 0.270 -5.36 24/04/2018 0.170 0.090 0.100 0.100 8583WC MAHSING-WC 0.100 -0.020 109.7 1.470 2.100 49.66 21/02/2020
0.810 0.305 0.495 0.495 8125WB DAIBOCI-WB 0.495 Unch 0.2 2.280 2.500 31.36 19/06/2022 0.160 0.020 0.045 0.040 5264C2 MALAKOF-C2 0.040 -0.005 1570 0.930 1.050 17.20 30/04/2018
0.470 0.220 0.230 0.230 5276WA DANCO-WA 0.230 -0.015 66 0.435 0.300 21.84 22/05/2022 0.090 0.015 0.035 0.030 5264C3 MALAKOF-C3 0.030 -0.010 1977.4 0.930 1.000 13.98 19/03/2018
0.035 0.005 0.020 0.015 7179WB DBE-WB 0.015 Unch 640 0.030 0.050 116.67 22/01/2022 0.090 0.030 0.050 0.045 5264C4 MALAKOF-C4 0.045 -0.005 250 0.930 0.950 11.83 19/04/2018
0.220 0.120 0.155 0.150 3484WA DBHD-WA 0.150 -0.005 38.2 0.520 0.580 40.38 27/11/2020 0.085 0.025 0.030 0.030 5264C5 MALAKOF-C5 0.030 -0.015 299.9 0.930 1.150 28.49 29/06/2018
0.040 0.005 0.020 0.020 0152WA DGB-WA 0.020 Unch 2948.5 0.130 0.110 0.00 22/04/2018 0.055 0.020 0.030 0.025 5264C6 MALAKOF-C6 0.025 -0.005 2369.8 0.930 1.200 33.06 29/06/2018
0.230 0.055 0.175 0.165 727718 DIALOG-C18 0.175 Unch 205 2.630 2.300 2.76 30/03/2018 0.180 0.135 0.140 0.135 5264C7 MALAKOF-C7 0.135 -0.010 520 0.930 0.850 13.17 28/09/2018
0.205 0.100 0.170 0.170 727720 DIALOG-C20 0.170 Unch 100 2.630 2.220 3.80 29/06/2018 0.990 0.095 0.215 0.195 6181WB MALTON-WB 0.200 -0.010 3683.7 0.995 1.000 20.60 29/06/2018
0.375 0.115 0.285 0.260 727723 DIALOG-C23 0.280 -0.010 886.9 2.630 2.300 3.42 30/08/2018 0.500 0.278 0.315 0.310 5236WA MATRIX-WA 0.310 -0.030 39.1 2.200 2.400 23.18 20/07/2020
0.190 0.135 0.155 0.155 727724 DIALOG-C24 0.155 -0.010 15.5 2.630 2.400 8.94 23/08/2018 0.195 0.100 0.180 0.175 6012C3 MAXIS-C3 0.180 0.005 52 6.020 5.600 0.50 30/04/2018
0.140 0.075 0.110 0.095 727725 DIALOG-C25 0.100 -0.005 1188 2.630 2.900 18.63 31/07/2018 0.135 0.050 0.065 0.065 115532 MAYBANKC32 0.065 -0.005 1995 9.880 10.000 3.85 28/02/2018
0.025 0.001 0.005 0.005 694719 DIGI-C19 0.005 Unch 100 0.774 5.100 560.21 02/02/2018 0.295 0.125 0.285 0.275 115534 MAYBANKC34 0.285 0.005 315 9.880 9.250 0.84 30/08/2018
0.150 0.035 0.120 0.095 694721 DIGI-C21 0.120 0.020 20.2 4.820 5.000 7.47 31/07/2018 0.705 0.400 0.635 0.620 5152WA MBL-WA 0.635 -0.005 46.2 1.380 0.800 3.99 28/11/2022
0.370 0.055 0.215 0.205 4456WD DNEX-WD 0.205 -0.015 9878.7 0.495 0.500 42.42 30/07/2021 0.105 0.005 0.010 0.005 1171C3 MBSB-C3 0.005 -0.015 1100 0.565 1.350 140.71 28/02/2018
0.280 0.060 0.230 0.205 7114WA DNONCE-WA 0.225 0.020 3763.9 0.410 0.250 15.85 25/11/2020 0.150 0.030 0.120 0.110 1171C4 MBSB-C4 0.110 -0.005 185 1.130 1.250 20.35 29/06/2018
0.145 0.050 0.060 0.060 5265WA DOLPHIN-WA 0.060 -0.005 100 0.170 0.800 405.88 29/03/2021 0.105 0.050 0.075 0.065 1171C5 MBSB-C5 0.065 -0.005 10527.1 1.130 1.050 10.18 30/04/2018
0.340 0.185 0.220 0.220 7169WA DOMINAN-WA 0.220 -0.020 50 1.340 1.300 13.43 10/09/2020 0.065 0.015 0.030 0.025 1171C6 MBSB-C6 0.025 -0.005 1411 1.130 1.400 28.32 14/05/2018
0.070 0.035 0.045 0.045 7198WB DPS-WB 0.045 Unch 111.7 0.085 0.100 70.59 15/01/2025 0.255 0.090 0.200 0.175 1171C7 MBSB-C7 0.175 -0.005 2464.3 1.130 1.100 12.83 28/09/2018
0.375 0.040 0.335 0.305 161937 DRBHCOMC37 0.315 -0.010 3454.4 2.490 1.850 -0.40 30/03/2018 0.110 0.050 0.080 0.075 1171C8 MBSB-C8 0.080 0.005 18.3 1.130 1.200 20.35 31/07/2018
0.330 0.035 0.300 0.300 161938 DRBHCOMC38 0.300 0.005 20 2.490 1.780 1.61 30/01/2018 0.085 0.025 0.045 0.045 5040WB MEDAINC-WB 0.045 0.005 3.3 0.450 0.800 87.78 22/04/2022
0.250 0.045 0.215 0.215 161939 DRBHCOMC39 0.215 0.005 50 2.490 1.880 1.41 30/03/2018 0.310 0.190 0.205 0.195 7234WA MESB-WA 0.195 -0.010 1587.6 0.405 0.300 22.22 27/12/2022
0.220 0.030 0.190 0.185 161940 DRBHCOMC40 0.190 0.010 133 2.490 2.000 3.21 30/03/2018 0.090 0.005 0.010 0.010 5186C3 MHB-C3 0.010 -0.005 250 0.815 0.900 12.88 25/01/2018
0.180 0.020 0.150 0.135 161941 DRBHCOMC41 0.135 -0.005 1777.1 2.490 2.150 2.61 30/03/2018 0.120 0.040 0.065 0.065 5186C4 MHB-C4 0.065 -0.005 480 0.815 0.850 20.25 30/04/2018
0.480 0.095 0.440 0.425 161942 DRBHCOMC42 0.435 -0.005 246 2.490 1.650 1.20 31/05/2018 0.100 0.025 0.050 0.045 5186C5 MHB-C5 0.045 -0.015 1592.6 0.815 0.900 21.47 14/05/2018
0.340 0.075 0.305 0.285 161944 DRBHCOMC44 0.290 -0.025 668.5 2.490 2.000 3.61 09/04/2018 0.120 0.050 0.075 0.070 5186C8 MHB-C8 0.075 -0.005 12074.2 0.815 0.920 31.29 24/08/2018
0.345 0.080 0.315 0.295 161945 DRBHCOMC45 0.295 -0.010 1732.3 2.490 1.950 4.38 29/06/2018 0.080 0.045 0.055 0.055 5186C9 MHB-C9 0.055 -0.025 10 0.815 1.000 42.94 25/06/2018
0.190 0.150 0.170 0.160 161948 DRBHCOMC48 0.160 -0.015 339 2.490 2.200 10.84 21/09/2018 0.270 0.130 0.160 0.150 5576WC MINHO-WC 0.160 0.005 55.9 0.480 0.500 37.50 02/08/2021
0.175 0.160 0.175 0.160 161949 DRBHCOMC49 0.170 Unch 3794.8 2.490 3.000 40.96 31/10/2018 0.115 0.020 0.050 0.045 381612 MISC-C12 0.050 0.010 686.6 7.440 7.500 2.82 30/03/2018
0.120 0.060 0.070 0.070 5216C1 DSONIC-C1 0.070 -0.005 100 1.170 1.150 10.26 19/04/2018 0.250 0.115 0.220 0.190 381614 MISC-C14 0.190 0.005 110.7 7.440 7.050 1.78 28/09/2018
0.080 0.045 0.045 0.045 5216C4 DSONIC-C4 0.045 Unch 20 1.170 1.350 23.08 11/06/2018 0.600 0.200 0.290 0.290 9571WD MITRA-WD 0.290 -0.010 8.4 0.940 1.090 46.81 23/08/2020
0.100 0.060 0.065 0.060 5216C5 DSONIC-C5 0.060 -0.005 233.4 1.170 1.290 20.51 31/07/2018 0.115 0.005 0.030 0.025 2194C6 MMCCORP-C6 0.030 -0.005 350.7 2.060 2.450 21.84 30/04/2018
0.125 0.090 0.095 0.090 341712 E&O-C12 0.095 Unch 620 1.440 1.550 20.83 23/08/2018 0.035 0.005 0.005 0.005 2194C7 MMCCORP-C7 0.005 -0.005 1005 1.030 2.600 153.64 26/02/2018
0.320 0.060 0.135 0.115 3417WB E&O-WB 0.125 -0.005 33.4 1.440 2.600 89.24 21/07/2019 0.265 0.055 0.140 0.130 2194C8 MMCCORP-C8 0.140 -0.005 418.5 2.060 2.000 7.28 31/07/2018
0.033 0.010 0.020 0.020 0154WB EAH-WB 0.020 0.005 215 0.050 0.090 120.00 24/02/2019 0.180 0.030 0.120 0.110 5237CI MPHBCAP-CI 0.115 -0.010 150 1.590 1.500 8.81 31/05/2018
0.230 0.100 0.170 0.130 5253CF ECONBHD-CF 0.150 -0.015 5442.8 1.310 1.180 3.82 22/03/2018 0.060 0.020 0.040 0.035 0070WA MQTECH-WA 0.035 0.005 12461 0.070 0.100 92.86 21/11/2021
0.190 0.080 0.150 0.135 5253CG ECONBHD-CG 0.140 Unch 60 1.310 1.240 7.48 30/03/2018 0.110 0.015 0.020 0.015 165118 MRCB-C18 0.015 -0.010 240.7 1.170 1.484 29.03 28/02/2018
0.125 0.055 0.075 0.075 5253CH ECONBHD-CH 0.075 -0.010 75 1.310 1.360 10.69 09/04/2018 0.100 0.030 0.060 0.045 165119 MRCB-C19 0.045 -0.015 635 1.170 1.379 24.56 30/04/2018
0.140 0.075 0.105 0.105 5253CI ECONBHD-CI 0.105 -0.015 100 1.310 1.340 14.47 24/07/2018 0.125 0.010 0.095 0.075 165121 MRCB-C21 0.080 -0.015 4291.7 1.170 1.222 13.37 30/04/2018
0.590 0.305 0.405 0.375 5253WA ECONBHD-WA 0.395 0.015 6074.3 1.310 1.250 25.57 02/01/2023 0.130 0.040 0.090 0.075 165123 MRCB-C23 0.075 -0.020 1077.2 1.170 1.134 8.15 19/03/2018
0.100 0.055 0.065 0.065 8206CK ECOWLD-CK 0.065 -0.005 482 1.430 1.500 13.99 31/07/2018 0.070 0.020 0.050 0.035 165125 MRCB-C25 0.040 -0.010 1629.4 1.170 1.309 19.04 30/03/2018
0.080 0.070 0.075 0.075 8206CL ECOWLD-CL 0.075 -0.005 50.1 1.430 1.500 15.38 23/08/2018 0.285 0.050 0.230 0.200 165126 MRCB-C26 0.205 -0.035 1728 1.170 1.056 9.36 29/06/2018
0.120 0.010 0.095 0.010 8206CM ECOWLD-CM 0.095 -0.010 400 1.430 1.350 11.01 31/07/2018 0.115 0.085 0.100 0.085 165127 MRCB-C27 0.085 -0.015 1770 1.170 1.300 29.27 28/09/2018
0.070 0.060 0.065 0.065 8206CN ECOWLD-CN 0.065 -0.005 40 1.430 1.650 24.48 25/06/2018 0.125 0.035 0.045 0.035 1651WA MRCB-WA 0.040 -0.005 11107.4 1.170 1.680 47.01 14/09/2018
0.710 0.340 0.375 0.345 8206WA ECOWLD-WA 0.355 -0.005 408.7 1.430 2.080 70.28 26/03/2022 0.440 0.295 0.390 0.375 1651WB MRCB-WB 0.375 -0.015 4472.6 1.170 1.250 38.89 29/10/2027
0.030 0.010 0.015 0.015 7182WA EKA-WA 0.015 -0.005 7.5 0.090 0.200 138.89 22/01/2019 0.335 0.060 0.295 0.275 13816 MYEG-C16 0.295 0.020 1232.9 2.590 2.000 0.00 02/02/2018
0.110 0.010 0.035 0.030 8877CD EKOVEST-CD 0.035 -0.005 6111.6 1.080 1.150 12.96 22/02/2018 0.110 0.005 0.030 0.025 13818 MYEG-C18 0.030 -0.005 720 2.590 2.600 3.28 25/01/2018
0.175 0.085 0.150 0.140 8877CF EKOVEST-CF 0.140 -0.010 2555.2 1.080 1.000 17.22 29/06/2018 0.130 0.030 0.100 0.090 13821 MYEG-C21 0.095 -0.005 3271.3 2.590 2.280 2.70 30/03/2018
0.110 0.045 0.075 0.075 8877CI EKOVEST-CI 0.075 -0.005 100 1.080 1.200 25.00 11/06/2018 0.245 0.055 0.205 0.185 13824 MYEG-C24 0.205 0.010 921.6 2.590 2.100 1.66 28/02/2018
0.450 0.200 0.230 0.220 5283WA EWINT-WA 0.230 0.010 800.8 1.050 1.450 60.00 02/04/2022 0.365 0.165 0.310 0.310 13826 MYEG-C26 0.310 0.015 3.2 2.590 1.700 1.54 29/06/2018
0.570 0.150 0.480 0.460 7047WB FAJAR-WB 0.470 -0.005 404.8 0.845 0.700 38.46 24/09/2019 0.345 0.090 0.305 0.285 13829 MYEG-C29 0.305 0.045 395 2.590 2.200 5.55 28/09/2018
0.060 0.005 0.040 0.040 06503B FBMKLCI-C3B 0.040 -0.005 7 1,828 1,800 -0.03 02/02/2018 0.065 0.010 0.030 0.025 0020WB NETX-WB 0.030 0.005 44349 0.050 0.050 60.00 08/06/2019
0.150 0.005 0.120 0.120 06503E FBMKLCI-C3E 0.120 -0.005 101.1 1,828 1,770 0.08 28/02/2018 0.030 0.015 0.025 0.015 0096WA NEXGRAM-WA 0.025 0.005 787.9 0.045 0.100 177.78 16/05/2022
0.175 0.020 0.165 0.165 06503I FBMKLCI-C3I 0.165 -0.005 2.5 1,828 1,755 0.49 30/04/2018 0.100 0.010 0.015 0.010 7215WA NIHSIN-WA 0.010 -0.005 3655.4 0.230 0.200 -8.70 11/02/2018
0.540 0.160 0.170 0.160 06504F FBMKLCI-H4F 0.160 -0.005 166.8 1,828 1,800 0.19 28/02/2018 0.255 0.075 0.130 0.130 7071WC OCR-WC 0.130 -0.005 122 0.535 0.500 17.76 24/07/2021
0.170 0.005 0.005 0.005 06504G FBMKLCI-H4G 0.005 -0.010 140 222.58 1,770 696.31 28/02/2018 0.280 0.045 0.085 0.060 9008WB OMESTI-WB 0.080 0.005 164.1 0.510 0.500 13.73 30/05/2018
0.215 0.020 0.025 0.025 06504H FBMKLCI-H4H 0.025 0.005 300.1 1,133 1,780 58.14 30/03/2018 0.095 0.040 0.080 0.070 0079WA ORION-WA 0.070 -0.005 11932.2 0.135 0.170 77.78 26/07/2022
0.370 0.105 0.110 0.110 06504I FBMKLCI-H4I 0.110 0.005 40 1,828 1,700 -5.83 30/04/2018 0.520 0.155 0.430 0.425 7052CM PADINI-CM 0.425 -0.025 360 5.200 3.750 0.72 22/02/2018
0.330 0.215 0.235 0.230 06504N FBMKLCI-H4N 0.230 0.010 749 1,828 1,730 -2.88 29/06/2018 0.195 0.140 0.145 0.145 7052CQ PADINI-CQ 0.145 -0.020 40 5.200 5.300 15.87 23/08/2018
0.495 0.385 0.405 0.385 06504O FBMKLCI-H4O 0.385 -0.010 725 1,828 1,810 3.19 29/06/2018 0.300 0.135 0.230 0.210 5125WA PANTECH-WA 0.220 -0.015 378.3 0.645 0.500 11.63 21/12/2020
0.155 0.005 0.040 0.010 522228 FGV-C28 0.015 -0.020 5123 1.980 2.050 5.43 02/02/2018 0.300 0.145 0.240 0.215 5125WB PANTECH-WB 0.235 0.010 167.4 0.645 0.500 13.95 21/12/2021
0.245 0.065 0.205 0.160 522231 FGV-C31 0.170 -0.035 14746.7 1.980 1.630 3.79 30/03/2018 0.090 0.020 0.090 0.075 7225WB PA-WB 0.085 0.005 92215.3 0.110 0.060 31.82 17/12/2022
0.150 0.075 0.125 0.125 522233 FGV-C33 0.125 -0.015 75 1.980 1.800 9.85 30/03/2018 0.150 0.060 0.125 0.120 6068WA PCCS-WA 0.125 -0.005 621.2 0.330 0.600 119.70 25/12/2022
0.130 0.060 0.090 0.090 522234 FGV-C34 0.090 -0.015 100 1.980 1.880 8.59 30/03/2018 0.360 0.130 0.345 0.325 518313 PCHEM-C13 0.325 -0.010 160 8.170 7.000 -0.40 31/05/2018
0.125 0.025 0.080 0.050 522237 FGV-C37 0.050 -0.040 170 1.980 1.900 1.77 30/01/2018 0.290 0.200 0.240 0.220 9997WB PENSONI-WB 0.235 -0.005 51.3 0.625 0.600 33.60 20/01/2024
0.165 0.060 0.115 0.110 522238 FGV-C38 0.110 -0.030 170 1.980 1.850 7.32 19/04/2018 0.485 0.235 0.250 0.245 8311WC PESONA-WC 0.250 -0.005 150 0.460 0.250 8.70 27/01/2020
0.315 0.100 0.255 0.210 522239 FGV-C39 0.230 -0.040 2421.6 1.980 1.750 8.71 31/07/2018 0.115 0.025 0.095 0.085 5219CB PESTECH-CB 0.095 0.010 526.7 2.000 1.880 3.50 31/05/2018
0.135 0.050 0.115 0.105 522240 FGV-C40 0.105 -0.015 2603.8 1.980 2.200 23.31 29/06/2018 0.155 0.020 0.090 0.075 5681CS PETDAG-CS 0.085 -0.005 295 24.700 24.100 1.01 30/03/2018
0.190 0.075 0.155 0.125 522241 FGV-C41 0.130 -0.020 8335.5 1.980 2.000 15.45 25/06/2018 0.250 0.050 0.135 0.115 6033CP PETGAS-CP 0.120 -0.035 309.5 17.940 18.000 6.02 31/07/2018
0.215 0.160 0.185 0.160 522242 FGV-C42 0.165 -0.030 7325.6 1.980 1.900 18.46 28/09/2018 0.545 0.180 0.330 0.305 3042CD PETRONM-CD 0.330 0.050 89 12.140 8.500 2.64 22/02/2018
0.185 0.135 0.155 0.135 522243 FGV-C43 0.135 -0.015 2024 1.980 2.000 18.06 21/09/2018 0.535 0.250 0.320 0.290 3042CE PETRONM-CE 0.290 -0.035 180.6 12.140 10.880 13.51 30/04/2018
0.130 0.065 0.080 0.075 9318WB FITTERS-WB 0.075 -0.010 138.6 0.420 1.000 155.95 12/10/2019 0.385 0.140 0.205 0.190 3042CF PETRONM-CF 0.190 -0.020 280 12.140 11.000 9.39 09/04/2018
0.060 0.015 0.030 0.030 539837 GAMUDA-C37 0.030 -0.005 475.6 5.100 5.450 10.39 30/04/2018 0.305 0.140 0.185 0.155 3042CG PETRONM-CG 0.155 -0.030 40 12.140 9.880 6.92 29/06/2018
0.095 0.045 0.080 0.080 539840 GAMUDA-C40 0.080 0.005 399.2 5.100 5.650 18.63 21/06/2018 0.455 0.230 0.280 0.280 3042CI PETRONM-CI 0.280 -0.005 2 12.140 11.100 14.50 29/06/2018
0.160 0.095 0.145 0.135 539842 GAMUDA-C42 0.140 0.005 723 5.100 4.800 7.84 27/07/2018 0.305 0.110 0.175 0.160 3042CJ PETRONM-CJ 0.160 -0.010 567 12.140 13.000 26.85 24/07/2018
0.195 0.120 0.195 0.175 539843 GAMUDA-C43 0.185 0.005 1316.1 5.100 5.000 10.74 31/07/2018 0.155 0.115 0.125 0.115 3042CL PETRONM-CL 0.115 -0.010 65 12.140 15.800 45.78 21/09/2018
0.195 0.145 0.180 0.180 539844 GAMUDA-C44 0.180 0.010 20 5.100 5.000 10.39 25/06/2018 0.500 0.095 0.490 0.410 8869C1 PMETAL-C1 0.475 -0.015 235.6 5.630 3.800 1.24 29/06/2018
0.125 0.005 0.010 0.005 0078CF GDEX-CF 0.010 Unch 1100 0.625 0.650 6.40 02/02/2018 0.355 0.125 0.350 0.350 8869C2 PMETAL-C2 0.350 -0.005 70 5.630 4.100 3.91 29/06/2018
0.572 0.350 0.410 0.400 0078WB GDEX-WB 0.400 Unch 111.3 0.625 0.383 25.20 05/02/2020 0.325 0.150 0.310 0.285 8869C3 PMETAL-C3 0.305 -0.020 1903.6 5.630 4.300 3.46 14/05/2018
THU R S DAY JA N UA RY 1 8 , 20 1 8 • T HEED G E FINA NCIA L DA ILY
Markets 2 9
G L O B A L M A R K E T S . B U R S A M A L AY S I A E Q U I T Y D E R I VAT I V E S

China — Stocks end mixed as consumer, Beijing has vowed to fend off local US — Wall Street eases as oil prices, Earlier on Tuesday, the Dow had broken
real estate firms take breather government debt risks in 2018, aiming to General Electric fall above the 26,000 mark for the first time
crack down on illegal financing guarantees as fourth-quarter earnings season got off
SHANGHAI: China stocks ended mixed as policymakers look to rein in a massive NEW YORK: Wall Street paused its rally on to a strong start following upbeat results
yesterday, with gains in banking and debt pile and reduce financial risks facing Tuesday, weighed down by weakness in from UnitedHealth and Citigroup.
infrastructure firms offset by losses in the economy. General Electric (GE) shares and as lower UnitedHealth rose 1.9% after the largest
consumer and real estate shares. In 2017, local governments issued a oil prices dragged down the energy sector. US health insurer reported results that beat
The Shanghai Composite Index (SSEC) total of 4.36 trillion yuan worth of bonds, The energy sector fell 1.2% as Brent estimates and raised its 2018 earnings
rose 8.08 points or 0.24% at 3,444.67 and the Ministry of Finance said in a statement crude oil shed some of its recent gains, outlook.
the blue-chip CSI 300 Index was down on its website. falling nearly US$1 per barrel. More than three quarters of the 30 S&P
10.36 points or 0.24% to 4,248.12 at the Local governments were allowed to Industrials and materials were the other 500 companies that have reported so far
closing bell. swap 2.77 trillion yuan last year in higher- major laggards on the S&P 500 Index, have topped profit estimates, according to
The smaller Shenzhen Index ended cost, maturing debt into lower-cost, longer- down 0.9% and 1.2% respectively. Thomson Reuters.
down 0.3% and the start-up board ChiNext term bonds to help ease their debt burdens. GE fell 2.9% after raising the prospect “You’d typically see and expect the
Composite Index was higher by 0.72%. That compared with 4.9 trillion yuan of of breaking itself up and announcing more markets to interpret that in a positive
The largest percentage gainers in the bonds swapped in 2016. than US$11 billion in charges from its long- manner, but a lot of indices have moved
SSEC were Xinjiang Korla Pear Co Ltd up Hong Kong’s Hang Seng Index rose to term care insurance portfolio and new US back. What’s held them back seems to
10.03%, followed by Lawton Development a fresh closing peak yesterday, aided by tax laws. be company-specific,” said Shawn Cruz,
Co Ltd gaining 9.98% and Beijing Airport continued strength in index heavyweight The CBOE Volatility Index, a widely senior trading specialist at TD Ameritrade
High-Tech Park Co Ltd up by 9.97%. Hong Kong Exchanges and Clearing followed measure of market anxiety, rose in Chicago, making reference to GE.
The largest percentage losses in the (HKEx). HKEx jumped more than 2% to to a more than one-month high of 11.66. Cruz added that the Federal Reserve
SSEC were China Jushi Co Ltd down 2½-year highs. “Lower energy prices are taking us down Bank of New York’s business conditions
9.98%, followed by Shanghai Shimao Co At close of trade, the Hang Seng Index a little bit,” said Tracie McMillion, head of index, which came in slightly below
Ltd losing 9.33% and Changchun Gas Co was up 78.66 points or 0.25% at 31,983.41. global asset allocation strategy at Wells expectations on Tuesday, may have also
Ltd down by 8.74%. The Hang Seng China Enterprises Index Fargo Investment Institute in Winston- contributed to Wall Street’s dip.
China’s outstanding local government rose 81.5 points or 0.64% to 12,868.78. Salem, North Carolina. Merck surged 5.8% after early results
debt rose 7.5% at the end of 2017 from The sub-index of the Hang Seng tracking But, she added, “investors are continuing from a key study showed its blockbuster
the previous year, according to Reuters energy shares dipped 1.3%, while the IT to move into equities as they see returns. drug Keytruda and two chemotherapy
calculations, but remained within the sector rose 0.71%, the financial sector was It’s feeding on itself, becoming a virtuous medicines helped lung cancer patients
government’s target. 0.6% higher and property sector dipped cycle, enticing more people in.” live longer and stopped the disease from
Outstanding local government debt 1.01% . The Dow Jones Industrial Average advancing.
was at 16.47 trillion yuan, finance ministry The top gainer on Hang Seng was China fell 10.33 points or 0.04% to 25,792.86; Viacom fell 7% after sources told
data showed yesterday. China capped the Mengniu Dairy Co Ltd up 5.3%, while the the S&P 500 lost 9.82 points or 0.35% Reuters CBS Corp and the company
size of provincial government debt at 18.8 biggest loser was Country Garden Holdings to 2,776.42; and the Nasdaq Composite were not in active merger discussions.
trillion yuan for 2017. Co Ltd which was down 5.51%. dropped 37.38 points or 0.51% to 7,223.69. — Reuters

Shanghai Composite Hang Seng Dow Jones Euro STOXX 50 Index

Index points Index points Index points
Index points
5800 31500 26500 3900
3,444.67
+8.08
27580 21,056.93
4825 (+0.24%) 22275 3415
2,772.70
3850 23660 18050 2930
10,403.79
3,087.842
2875 19740 13825 25,792.86 2445 3,622.01
31,983.41 -10.33 +10.20
+78.66 (-0.04%) (+0.28%)
1900 15820 (+0.25%) 9600 1960
Mar 1, 2010 Jan 17, 2018 Mar 1, 2010 Jan 17, 2018 Mar 1, 2010 Jan 16, 2018 Mar 1, 2010 Jan 16, 2018

Bursa Malaysia Equity Derivatives YEAR

HIGH
YEAR
LOW
DAY
HIGH
DAY
LOW
CODE WARRANTS CLOSE
(RM)
+/-
(RM)
VOL PARENT
(‘000)
EXE
PRICE PRICE
PR’M
(%)
EXPIRY
DATE
0.235 0.080 0.125 0.120 0148WB SUNZEN-WB 0.125 -0.015 30 0.290 0.250 29.31 25/02/2021
Main Market & Ace Market Warrants 0.215 0.010 0.215 0.120 710627 SUPERMX-C27 0.195 0.065 28771 2.390 2.000 0.00 02/02/2018
0.100 0.005 0.100 0.040 710628 SUPERMX-C28 0.085 0.040 2118.4 2.390 2.200 0.94 22/01/2018
YEAR YEAR DAY DAY CODE WARRANTS CLOSE +/- VOL PARENT EXE PR’M EXPIRY 0.200 0.020 0.200 0.140 710629 SUPERMX-C29 0.160 0.035 189.6 2.390 1.900 0.25 30/01/2018
HIGH LOW HIGH LOW (RM) (RM) (‘000) PRICE PRICE (%) DATE 0.650 0.090 0.650 0.520 710630 SUPERMX-C30 0.610 0.090 885.5 2.390 1.850 2.93 29/06/2018
0.270 0.065 0.270 0.205 710631 SUPERMX-C31 0.240 0.030 3003.8 2.390 2.100 7.95 29/06/2018
0.300 0.145 0.285 0.265 8869C4 PMETAL-C4 0.275 -0.020 777 5.630 5.000 8.35 29/06/2018 0.255 0.090 0.255 0.200 710632 SUPERMX-C32 0.240 0.040 5813 2.390 1.800 5.44 24/07/2018
0.255 0.140 0.240 0.220 8869C5 PMETAL-C5 0.230 -0.015 410 5.630 5.350 13.41 24/07/2018 0.255 0.085 0.240 0.180 710633 SUPERMX-C33 0.210 0.030 21044.2 2.390 1.880 5.02 24/07/2018
0.275 0.085 0.255 0.230 8869C6 PMETAL-C6 0.250 -0.020 1428.9 5.630 5.000 6.57 28/09/2018 0.365 0.135 0.170 0.170 1538WB SYMLIFE-WB 0.170 -0.005 40.6 0.760 1.100 67.11 11/11/2020
0.220 0.190 0.220 0.205 8869C7 PMETAL-C7 0.205 -0.015 72.5 5.630 6.300 26.47 28/09/2018 0.330 0.065 0.075 0.070 8524WB TALIWRK-WB 0.070 0.005 62.2 1.090 1.700 62.39 11/11/2018
0.685 0.170 0.660 0.655 8869CU PMETAL-CU 0.655 -0.015 250 5.630 3.000 -0.18 19/03/2018 0.640 0.170 0.245 0.240 7200WA TEKSENG-WA 0.245 -0.010 25 0.420 0.250 17.86 29/01/2020
1.050 0.640 0.660 0.650 7088WB POHUAT-WB 0.660 0.010 34 1.600 1.000 3.75 21/10/2020 0.295 0.050 0.295 0.270 534739 TENAGA-C39 0.275 -0.010 789.7 15.820 14.600 0.98 29/06/2018
0.185 0.055 0.075 0.065 463411 POS-C11 0.075 -0.005 1405 5.110 5.300 10.32 30/04/2018 0.105 0.040 0.050 0.050 7889WB THRIVEN-WB 0.050 0.005 40 0.225 0.640 206.67 05/10/2020
0.120 0.065 0.070 0.065 463413 POS-C13 0.065 -0.005 235.6 5.110 6.000 26.96 29/06/2018 0.025 0.005 0.010 0.005 7079WB TIGER-WB 0.010 0.005 1389 0.040 0.170 350.00 23/12/2018
0.710 0.200 0.240 0.235 8966WA PRLEXUS-WA 0.235 -0.025 17.2 0.720 1.200 99.31 14/06/2021 0.280 0.125 0.170 0.170 0101WB TMCLIFE-WB 0.170 0.005 274.7 0.820 0.750 12.20 21/06/2019
0.145 0.055 0.095 0.085 7145WA PSIPTEK-WA 0.090 -0.005 400.8 0.145 0.100 31.03 16/11/2019 0.620 0.080 0.585 0.540 711319 TOPGLOV-C19 0.585 0.050 465 9.000 6.100 0.28 12/02/2018
0.260 0.035 0.215 0.205 0007WA PUC-WA 0.205 -0.005 3872.7 0.300 0.100 1.67 25/12/2024 0.500 0.090 0.470 0.460 711320 TOPGLOV-C20 0.470 0.035 203.2 9.000 5.800 1.00 30/04/2018
0.245 0.020 0.215 0.200 0007WB PUC-WB 0.200 -0.005 12515.3 0.300 0.100 0.00 15/02/2019 0.695 0.170 0.615 0.585 711322 TOPGLOV-C22 0.600 0.015 421 9.000 6.800 1.56 31/05/2018
0.480 0.055 0.090 0.080 6807WB PUNCAK-WB 0.080 -0.020 6.5 0.700 1.000 54.29 20/07/2018 0.645 0.135 0.605 0.550 711323 TOPGLOV-C23 0.590 0.040 242.8 9.000 6.500 1.72 28/09/2018
0.750 0.240 0.545 0.510 7134WA PWF-WA 0.510 -0.040 14.4 1.000 0.620 13.00 20/07/2021 0.380 0.125 0.340 0.315 711324 TOPGLOV-C24 0.340 0.030 1647.7 9.000 7.000 4.60 24/07/2018
0.110 0.005 0.030 0.015 1066C2 RHBBANK-C2 0.030 0.020 3029.1 5.250 5.600 8.38 28/02/2018 0.280 0.095 0.260 0.240 711325 TOPGLOV-C25 0.260 0.015 793.5 9.000 6.880 5.33 31/07/2018
0.180 0.065 0.175 0.150 1066C3 RHBBANK-C3 0.175 0.015 307.5 5.250 5.000 5.24 29/06/2018 0.490 0.155 0.450 0.410 711326 TOPGLOV-C26 0.450 0.045 1774.5 9.000 7.000 2.78 11/06/2018
0.105 0.050 0.080 0.080 1066C4 RHBBANK-C4 0.080 0.005 50 5.250 5.300 7.05 30/04/2018 0.255 0.200 0.235 0.215 711327 TOPGLOV-C27 0.235 0.020 2425.1 9.000 8.500 12.72 21/09/2018
0.105 0.075 0.100 0.100 1066C5 RHBBANK-C5 0.100 0.005 20 5.250 5.000 6.67 31/07/2018 0.165 0.115 0.130 0.115 7100CA UCHITEC-CA 0.130 0.010 5155.2 2.950 3.880 46.07 28/09/2018
0.090 0.035 0.055 0.050 5270WA RSENA-WA 0.050 -0.005 3129.4 0.470 0.500 17.02 01/12/2023 0.460 0.025 0.405 0.385 0005WA UCREST-WA 0.400 0.015 602 0.445 0.040 -1.12 20/03/2018
0.145 0.010 0.025 0.025 521850 SAPNRGC50 0.025 -0.005 1613.5 0.810 1.600 103.70 29/06/2018 0.150 0.035 0.075 0.075 514847 UEMS-C47 0.075 -0.025 300 1.150 1.000 0.00 30/01/2018
0.080 0.005 0.010 0.005 521851 SAPNRGC51 0.010 0.005 557 0.810 1.900 137.04 09/04/2018 0.085 0.020 0.035 0.035 514850 UEMS-C50 0.035 -0.010 100 1.150 1.240 13.91 26/04/2018
0.065 0.005 0.015 0.010 521853 SAPNRGC53 0.015 0.005 690 0.810 1.780 125.31 29/06/2018 0.075 0.010 0.020 0.020 514851 UEMS-C51 0.020 -0.010 100 1.150 1.200 7.83 22/02/2018
0.090 0.010 0.025 0.020 521855 SAPNRGC55 0.025 0.005 3954.4 0.810 1.550 100.62 24/07/2018 0.160 0.040 0.115 0.110 514852 UEMS-C52 0.110 -0.015 453.2 1.150 1.100 7.61 31/05/2018
0.100 0.040 0.060 0.055 521857 SAPNRGC57 0.060 -0.010 929.8 0.810 1.450 97.53 25/06/2018 0.270 0.015 0.250 0.230 4588C2 UMW-C2 0.250 0.010 1409.6 6.820 5.700 1.91 30/04/2018
0.170 0.125 0.130 0.125 521858 SAPNRGC58 0.130 -0.010 570 0.810 0.880 35.93 30/08/2018 0.270 0.095 0.210 0.185 5243WA UMWOG-WA 0.190 -0.020 56741.7 0.385 0.395 51.95 18/10/2024
0.175 0.115 0.135 0.115 521859 SAPNRGC59 0.130 -0.015 3538.1 0.810 0.800 22.84 21/09/2018 0.110 0.045 0.055 0.055 5005C2 UNISEM-C2 0.055 -0.005 829 3.200 3.650 20.94 27/07/2018
0.315 0.070 0.195 0.195 5157WA SAUDEE-WA 0.195 0.005 30 0.475 0.500 46.32 31/03/2021 0.735 0.210 0.580 0.520 7240WA VERTICE-WA 0.580 -0.055 5.2 0.780 0.500 38.46 31/03/2024
0.025 0.005 0.010 0.010 0109WB SCBUILD-WB 0.010 -0.005 141.8 0.040 0.050 50.00 06/11/2019 0.335 0.200 0.265 0.255 0120WB VIS-WB 0.265 0.010 77 0.560 0.750 81.25 16/11/2022
0.605 0.295 0.355 0.300 7247WA SCGM-WA 0.355 0.055 31.1 2.370 3.960 82.07 31/07/2020 0.340 0.130 0.240 0.205 0097CE VITROX-CE 0.205 -0.035 120 6.200 5.000 0.48 09/04/2018
0.185 0.080 0.110 0.105 0161WA SCH-WA 0.110 0.005 1087.9 0.210 0.100 0.00 04/12/2021 0.250 0.135 0.190 0.175 0097CH VITROX-CH 0.175 -0.015 155 6.200 6.500 21.77 31/07/2018
0.785 0.200 0.280 0.250 7073WB SEACERA-WB 0.280 0.025 50.1 0.780 1.000 64.10 29/05/2019 0.055 0.020 0.045 0.040 7070WB VIZIONE-WB 0.040 -0.005 1316 0.175 0.160 14.29 20/06/2018
0.635 0.115 0.555 0.555 5279CA SERBADK-CA 0.555 -0.030 40 3.400 2.000 -0.37 02/02/2018 0.350 0.115 0.300 0.290 6963CP VS-CP 0.290 0.060 65 3.050 2.180 0.00 30/03/2018
0.240 0.150 0.200 0.190 5279CH SERBADK-CH 0.190 0.005 155 3.400 2.900 7.65 11/06/2018 0.330 0.105 0.270 0.230 6963CQ VS-CQ 0.265 0.070 239 3.050 2.280 0.82 30/03/2018
0.250 0.165 0.210 0.200 5279CI SERBADK-CI 0.200 -0.015 705 3.400 3.400 20.59 31/07/2018 0.215 0.120 0.180 0.155 6963CR VS-CR 0.180 0.010 842.9 3.050 2.480 4.92 29/06/2018
0.215 0.090 0.105 0.105 0055WA SERSOL-WA 0.105 -0.010 20 0.175 0.180 62.86 18/04/2023 0.190 0.090 0.150 0.120 6963CS VS-CS 0.145 0.020 6650.6 3.050 2.680 6.89 29/06/2018
0.280 0.070 0.255 0.225 7165WA SGB-WA 0.255 -0.015 636 0.685 0.600 24.82 07/04/2021 0.280 0.135 0.215 0.180 6963CT VS-CT 0.215 0.035 6437.7 3.050 2.800 9.43 29/06/2018
0.280 0.070 0.255 0.225 7165WA SGB-WA 0.255 -0.015 636 0.685 0.600 24.82 07/04/2021 0.120 0.035 0.070 0.050 6963CU VS-CU 0.065 0.005 14164.2 3.050 3.500 21.15 31/05/2018
0.155 0.005 0.090 0.075 419715 SIME-C15 0.090 0.010 1169.2 2.720 10.000 284.19 19/03/2018 0.085 0.025 0.050 0.035 6963CV VS-CV 0.050 0.005 4316.5 3.050 3.600 24.59 14/05/2018
0.570 0.195 0.460 0.445 419717 SIME-C17 0.460 0.020 81.1 2.720 1.880 2.94 30/08/2018 0.120 0.060 0.095 0.075 6963CW VS-CW 0.090 0.005 1345 3.050 3.300 18.52 24/07/2018
0.515 0.160 0.440 0.400 419718 SIME-C18 0.440 0.030 225 2.720 2.000 5.88 30/08/2018 0.150 0.045 0.100 0.100 9679C3 WCT-C3 0.100 -0.005 150 1.660 1.700 12.95 29/06/2018
0.210 0.035 0.150 0.135 5288CA SIMEPROP-CA 0.140 -0.005 1231.5 1.550 1.450 11.61 30/08/2018 0.570 0.180 0.275 0.270 9679WE WCT-WE 0.275 Unch 967.4 1.660 2.080 41.87 27/08/2020
0.295 0.120 0.195 0.180 5288CB SIMEPROP-CB 0.195 0.005 350.1 1.550 1.680 20.97 30/08/2018 0.040 0.010 0.010 0.010 5246CS WPRTS-CS 0.010 -0.005 50 2.320 4.100 78.02 12/02/2018
0.140 0.125 0.130 0.125 5288CC SIMEPROP-CC 0.130 -0.005 305 1.550 1.780 27.42 30/08/2018 0.140 0.040 0.060 0.060 5246CT WPRTS-CT 0.060 Unch 150 3.500 3.650 9.43 30/04/2018
0.770 0.120 0.590 0.575 7155CE SKPRES-CE 0.575 0.020 10 2.000 1.200 3.13 25/01/2018 0.930 0.525 0.530 0.530 7245WA WZSATU-WA 0.530 -0.010 8 0.950 0.500 8.42 28/10/2024
0.280 0.135 0.225 0.185 7155CG SKPRES-CG 0.200 -0.005 1598.3 2.000 1.900 17.00 29/06/2018 0.130 0.010 0.065 0.065 5156WC XDL-WC 0.065 -0.005 100 0.175 0.160 28.57 02/07/2018
0.200 0.080 0.130 0.130 7155CH SKPRES-CH 0.130 0.020 95 2.000 2.150 23.75 27/07/2018 0.020 0.005 0.020 0.015 0095WA XINGHE-WA 0.015 Unch 144403.8 0.070 0.100 64.29 22/03/2019
0.235 0.075 0.155 0.120 7155CI SKPRES-CI 0.125 -0.005 10903.1 2.000 2.100 17.50 11/06/2018 0.110 0.040 0.060 0.055 0165WA XOX-WA 0.060 Unch 3694.2 0.120 0.200 116.67 10/02/2019
0.344 0.120 0.125 0.125 5242WA SOLID-WA 0.125 -0.010 22.3 0.340 0.210 -1.47 16/12/2020 0.215 0.095 0.155 0.140 7293CN YINSON-CN 0.155 0.025 800 4.110 3.600 2.68 22/03/2018
0.185 0.060 0.065 0.060 8664C1 SPSETIA-C1 0.060 -0.005 290 3.300 3.409 6.85 19/03/2018 0.200 0.100 0.150 0.130 7293CO YINSON-CO 0.150 0.010 415.3 4.110 4.500 20.44 29/06/2018
0.180 0.110 0.110 0.110 8664CZ SPSETIA-CZ 0.110 -0.005 50 3.300 3.020 4.49 26/04/2018 0.135 0.080 0.095 0.085 7293CP YINSON-CP 0.095 0.010 123 4.110 4.500 18.73 11/06/2018
0.140 0.050 0.080 0.075 0129WA SRIDGE-WA 0.075 -0.005 372.5 0.240 0.180 6.25 24/02/2023 0.110 0.035 0.050 0.050 7020WB YKGI-WB 0.050 -0.005 122.5 0.175 0.500 214.29 28/05/2020
0.125 0.020 0.095 0.085 0140WA STERPRO-WA 0.085 -0.005 2677.7 0.290 0.480 94.83 17/02/2021 0.215 0.020 0.215 0.180 467712 YTL-C12 0.215 Unch 600 1.510 1.350 3.64 29/06/2018
0.115 0.015 0.095 0.075 1201WA SUMATEC-WA 0.085 -0.015 7764.2 0.100 0.320 305.00 03/03/2021 0.065 0.010 0.060 0.055 467713 YTL-C13 0.055 -0.010 240 1.510 1.471 4.53 09/04/2018
0.055 0.015 0.045 0.035 1201WB SUMATEC-WB 0.040 -0.010 49286.5 0.100 0.175 115.00 13/11/2018 0.115 0.005 0.015 0.015 6742C1 YTLPOWR-C1 0.015 0.005 34.2 1.320 1.400 7.20 28/02/2018
0.230 0.125 0.215 0.180 5263CM SUNCON-CM 0.180 -0.010 3114.2 2.520 2.300 3.77 31/07/2018 0.115 0.025 0.110 0.110 6742C2 YTLPOWR-C2 0.110 0.020 5 1.320 1.300 6.82 30/08/2018
0.505 0.185 0.340 0.340 3743WA SUNSURIA-WA 0.340 0.025 0.1 1.270 1.500 44.88 22/07/2020 0.435 0.100 0.190 0.170 6742WB YTLPOWR-WB 0.185 0.005 322.6 1.320 1.110 -1.89 11/06/2018
0.735 0.305 0.570 0.560 5211WB SUNWAY-WB 0.570 0.005 476.8 1.670 1.860 45.51 03/10/2024 0.095 0.025 0.040 0.030 2283WA ZELAN-WA 0.030 -0.010 475.1 0.130 0.250 115.38 25/01/2019
0.325 0.140 0.185 0.175 0148WA SUNZEN-WA 0.185 -0.015 18.7 0.290 0.100 -1.72 14/04/2019
Please refer to the Bursa Malaysia website for the prices of loan stocks, bonds and overseas structure warrants
 3 0 Markets T HUR SDAY JAN UARY 1 8, 2 0 1 8 • TH E EDGE FI N AN C I AL DAI LY

INSIDER MOVES . TRADING THEMES . EVENTS . FOREX

Insider moves (Filings on Jan 16, 2018) Trading themes

Insider Moves show what substantial shareholders are doing with their stakes, which could be a signal of their views on the company’s outlook. Europe’s wind power capacity
COMPANY SHARES ACQUIRED DIRECTOR/SUBSTANTIAL SHARES HELD TRANSACTION
(DISPOSED) SHAREHOLDER AFTER CHANGE DATE
AMFIRST REAL ESTATE (13,650,000) JADELINE CAPITAL 15/1
INVESTMENT TRUST
APFT (45,000,000) LOW THE BENG 12/1
AXIS REAL ESTATE 2,000,000 EMPLOYEES PROVIDENT FUND BOARD 174,601,571 11/1
INVESTMENT TRUST
BERMAZ AUTO (1,154,300) AMANAHRAYA TRUSTEES 62,680,600 12/1
- SKIM AMANAH SAHAM BUMIPUTERA
BERMAZ AUTO (1,663,000) EMPLOYEES PROVIDENT FUND BOARD 153,044,426 11/1
BIMB 1,000,000 AMANAHRAYA TRUSTEES 87,290,339 12/1
- SKIM AMANAH SAHAM BUMIPUTERA
BUMI ARMADA 2,971,100 EMPLOYEES PROVIDENT FUND BOARD 368,904,795 11/1
DAGANG NEXCHANGE (15,000,000) AZMAN KARIM 90,740,944 15/1
DIALOG GROUP 2,386,400 EMPLOYEES PROVIDENT FUND BOARD 571,159,550 11/1
DIGI.COM (1,156,500) KUMPULAN WANG PERSARAAN 417,381,600 15/1
(DIPERBADANKAN)
DIGI.COM 4,515,000 EMPLOYEES PROVIDENT FUND BOARD 1,155,649,772 11/1
DRB-HICOM 5,916,800 EMPLOYEES PROVIDENT FUND BOARD 119,447,041 9 - 11/1
FELDA GLOBAL VENTURES (3,250,000) KOPERASI PERMODALAN FELDA MALAYSIA 195,813,408 12 & 15/1

FOCUS POINT 1,000,000 KELVIN LIAW KAI XUAN 1,000,000 16/1

FOCUS POINT (1,000,000) DATIN GOH POI EONG 21,464,699 16/1
GAMUDA 1,402,000 EMPLOYEES PROVIDENT FUND BOARD 291,358,005 11/1
HOVID 19,600,400 FAJAR ASTORIA 368,430,706 12/1
HUBLINE 7,021,400 IBRAHIM BAKI 261,818,500 11/1
IGB REAL ESTATE 2,000,000 EMPLOYEES PROVIDENT FUND BOARD 309,891,513 11/1
INVESTMENT TRUST
INARI AMERTRON 1,581,700 EMPLOYEES PROVIDENT FUND BOARD 108,559,900 11/1
INARI AMERTRON 4,540,900 KUMPULAN WANG PERSARAAN 209,372,550 15/1
(DIPERBADANKAN)
INARI AMERTRON (1,000,000) HO PHON GUAN 25,183,752 11/1
IOI CORPORATION 3,000,000 EMPLOYEES PROVIDENT FUND BOARD 693,302,873 11/1
LEE SWEE KIAT GROUP 2,300,000 LEE AH BAH @ LEE SWEE KIAT 2,300,000 12/1
MAH SING GROUP 3,000,000 EMPLOYEES PROVIDENT FUND BOARD 226,179,761 12/1
MALAKOFF CORPORATION (1,788,500) EMPLOYEES PROVIDENT FUND BOARD 582,926,433 10/1
MISC (1,000,000) EMPLOYEES PROVIDENT FUND BOARD 262,233,411 8/1
MUHIBBAH ENGINEERING (M) (2,297,400) LEMBAGA TABUNG HAJI 41,862,600 12/1
PANTECH GROUP (2,073,300) KOPERASI PERMODALAN FELDA MALAYSIA 68,674,400 12 & 15/1
PETRONAS CHEMICALS GROUP (1,440,500) EMPLOYEES PROVIDENT FUND BOARD 650,342,400 10 & 11/1
PUBLIC BANK (1,068,900) EMPLOYEES PROVIDENT FUND BOARD 554,338,100 11/1
SAPURA ENERGY (15,000,000) EMPLOYEES PROVIDENT FUND BOARD 580,903,044 11/1
SIME DARBY PLANTATION 4,078,900 EMPLOYEES PROVIDENT FUND BOARD 848,447,331 11/1
SIME DARBY PROPERTY 2,720,000 AMANAHRAYA TRUSTEES 2,907,410,700 12/1
- SKIM AMANAH SAHAM BUMIPUTERA
SKP RESOURCES 2,252,500 KUMPULAN WANG PERSARAAN 162,795,000 15/1
(DIPERBADANKAN)
TATT GIAP GROUP 8,360,000 DATO’ LIANG CHEE FONG 8,360,000 15/1
TENAGA NASIONAL (1,191,000) AMANAHRAYA TRUSTEES 439,623,800 12/1
- SKIM AMANAH SAHAM BUMIPUTERA
TENAGA NASIONAL 3,962,500 EMPLOYEES PROVIDENT FUND BOARD 652,605,382 11/1
While every effort is made to ensure accuracy, the information presented is not an exhaustive list and is not an official record of shareholder
filings. Direct and indirect share are combined due to space constraints. Readers who are interested should check the official filings filed with
Bursa Malaysia. Note: * denotes Ace Market

Local events to watch out for today

Stocks closest to year high Stocks closest to year low
• Malaysian Income Distribution in a Global Industry in 2017 and Outlook in 2018” STOCK HIGH LOW CLOSE VOLUME STOCK HIGH LOW CLOSE VOLUME
Context seminar by Khazanah Nasional Bhd at Menara Miti, Seminar Room 1, Level (RM) (RM) (RM) ('000) (RM) (RM) (RM) ('000)

and Khazanah Research Institute featur- 1, Jalan Sultan Haji Ahmad Shah, Kuala DENKO 1.800 1.540 1.800 2430 SALUTE 1.230 1.170 1.170 374.6
ing Ravi Kanbur and Branko Milanovic at Lumpur from 10am to noon. HSI-C1X 0.710 0.640 0.710 2142.1 MBSB-C3 0.010 0.005 0.005 1100
HSI-C3A 0.735 0.685 0.735 265 ASIAFLE 2.860 2.830 2.840 250.6
Mercu UEM, Odyssey Hall, Level 7, Kuala • Tenaga Nasional Bhd, as host of Aesieap
GPACKET 0.590 0.555 0.580 18899.8 FGV-C43 0.155 0.135 0.135 2024
Lumpur Sentral at 8.30am 2017/2018 will organise a soft launch for WASEONG 1.380 1.260 1.360 3380.7 BIMB-CW 0.090 0.090 0.090 12.3
• Labuan International Business and Fi- Cepsi 2018 at Kuala Lumpur Convention HSI-C1T 1.740 1.740 1.740 5 KIANJOO 2.950 2.850 2.850 267.3
nancial Centre is envisaged to undergo Centre, Room 304 and 305, Level 3, Kuala HSI-C1V 1.530 1.460 1.530 77.8 PETRONM-CL 0.125 0.115 0.115 65
transformation in key areas under the new Lumpur at 10.30am. SERNKOU 1.690 1.570 1.680 353.2 MRCB-C27 0.100 0.085 0.085 1770
Labuan Development Blueprint which is • Signing ceremony between Johawaki Group SUPERMX-C32 0.255 0.200 0.240 5813 SBCCORP 0.560 0.540 0.540 229.5
SUPERMX-C27 0.215 0.120 0.195 28771 WPRTS-CS 0.010 0.010 0.010 50
to be launched by Prime Minister Datuk and Fairfield by Marriott Kuala Lumpur, at
SUPERMX-C29 0.200 0.140 0.160 189.6 HSI-H4A 0.515 0.470 0.475 568
Seri Najib Razak at Financial Park Labuan, JW Marriott, Bukit Bintang, Kuala Lumpur SUPERMX-C30 0.650 0.520 0.610 885.5 HSI-H2W 0.270 0.225 0.235 2067.5
Jalan Merdeka, Labuan at 9am. from 11am to 1pm. SUPERMX 2.460 2.280 2.390 11953.8 HSI-H2Y 0.430 0.390 0.415 3022.6
• Launch of the New Volvo XC60 at Sheraton • Media Prima Television Networks will be SUPERMX-C28 0.100 0.040 0.085 2118.4 EG-PA 0.680 0.660 0.660 157.9
Petaling Jaya, Grand Ballroom, Jalan Utara having its biggest and annual trade screen- TOPGLOV-C28 0.220 0.190 0.215 661.4 EVERGRN 0.650 0.605 0.610 6145.7
C, Petaling Jaya from 9.30am to noon. ings at The Majestic Hotel, Majestic Ball- IHH-C6 0.175 0.175 0.175 400 IJMPLNT 2.510 2.470 2.490 122.3
HLBANK 18.200 17.380 17.800 887.4 FGV-C42 0.185 0.160 0.165 7325.6
• The Institute for Democracy and Economic room, Level 2,Jalan Sultan Hishamuddin,
SUPERMX-C31 0.270 0.205 0.240 3003.8 MIECO 0.695 0.660 0.660 3916.3
Affairs will be discussing the issue entitled Kuala Lumpur at 3pm. SEEHUP 1.430 1.380 1.400 21.4 SPSETIA-CZ 0.110 0.110 0.110 50
“Illicit Trade in Malaysia: Causes and Con- • BMW Group Malaysia welcomes the GKENT-CA 0.205 0.200 0.205 13 HSI-H2S 0.035 0.025 0.025 314
sequences” at Intercontinental Hotel Kuala first-ever BMW 5 Series Hybrid with eDrive JIANKUN-WA 0.125 0.110 0.115 699.8 DKSH 3.890 3.820 3.860 49
Lumpur, Jalan Ampang from 9.30am. Technology — the All-New BMW 530e at ELKDESA 1.250 1.210 1.210 152.6 BAT 33.500 32.200 32.600 648.4
• International trade and industry ministry Le Blanc Bangsar, Jalan Maarof, Kuala This table shows stocks that are trading near their year high. This This table shows stocks that are trading near their year low. This
(Miti) holds “Updates of the Automotive Lumpur at 6.30pm. could suggest a build-up in buying momentum, or the possibility that could suggest a build-up in selling momentum, or the possibility that
profit-taking activities could set in later. bargain hunting could set in later.

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 $ 0.595 0.727 0.701 0.527 0.904 0.966 0.962 0.912 2.8752 4.676 60.397 4.433 2.669 9,707 46.435 80.536 5.730 36.928 2.646 2.726 5.859 23.228 5.682
EURO 1.680 1.221 1.178 0.886 1.518 1.622 1.616 1.532 4.8295 7.853 101.449 7.447 4.484 16,304 77.997 135.276 9.624 62.028 4.444 4.578 9.842 39.017 9.543
US $ 1.376 0.819 0.965 0.725 1.244 1.328 1.324 1.255 3.9560 6.433 83.100 6.100 3.673 13,355 63.890 110.809 7.884 50.809 3.640 3.750 8.062 31.960 7.817
SWISS FR 1.426 0.849 1.037 0.752 1.289 1.377 1.372 1.301 4.1012 6.669 86.150 6.324 3.808 13,846 66.235 114.876 8.173 52.674 3.774 3.888 8.358 33.133 8.104
STERLING £ 1.897 1.129 1.378 1.330 1.714 1.831 1.825 1.730 5.4530 8.867 114.546 8.408 5.063 18,409 88.067 152.741 10.867 70.036 5.017 5.169 11.113 44.054 10.775
CANADA $ 1.106 0.659 0.804 0.776 0.583 1.068 1.064 1.009 3.1808 5.172 66.816 4.905 2.953 10,738 51.370 89.096 6.339 40.853 2.927 3.015 6.482 25.697 6.285
BRUNEI $ 1.036 0.617 0.753 0.726 0.546 0.936 0.996 0.945 2.9778 4.842 62.552 4.592 2.765 10,053 48.092 83.409 5.934 38.246 2.740 2.823 6.068 24.057 5.884
SINGAPORE $ 1.039 0.619 0.755 0.729 0.548 0.940 1.004 0.948 2.9884 4.860 62.775 4.608 2.775 10,089 48.263 83.706 5.955 38.382 2.750 2.833 6.090 24.143 5.905
AUSTRALIA $ 1.096 0.653 0.797 0.769 0.578 0.991 1.059 1.055 3.1525 5.126 66.222 4.861 2.927 10,643 50.913 88.303 6.282 40.489 2.901 2.989 6.424 25.469 6.230
MALAYSIA RM 0.348 0.207 0.253 0.244 0.183 0.314 0.336 0.335 0.317 1.0000 1.626 21.006 1.542 0.928 3,376 16.150 28.010 1.993 12.844 0.920 0.948 2.038 8.079 1.976
100 CHINESE RMB 21.388 12.733 15.545 14.994 11.277 19.333 20.651 20.578 19.507 61.4950 1,292 94.821 57.094 207,606 993.152 1,723 122.549 789.815 56.583 58.296 125.321 496.809 121.518
100 BANGLAD’H TAKA 1.656 0.986 1.203 1.161 0.873 1.497 1.599 1.593 1.510 4.7605 7.741 7.340 4.420 16,071 76.883 133.344 9.487 61.142 4.380 4.513 9.701 38.460 9.407
100 DANISH KRONER 22.556 13.429 16.394 15.813 11.893 20.389 21.779 21.702 20.572 64.8540 105.46 1,362 60.213 218,946 1,047.40 1,817 129.24 832.96 59.67 61.48 132.17 523.95 128.16
100 UAE DIRHAM 37.461 22.302 27.226 26.263 19.752 33.862 36.170 36.042 34.166 107.7078 175.15 2,263 166.08 363,620 1,739 3,017 214.64 1,383 99.10 102.10 219.50 870.16 212.84
1000 INA RUPIAH 0.010 0.006 0.007 0.007 0.005 0.009 0.010 0.010 0.009 0.0296 0.048 0.622 0.046 0.028 0.478 0.830 0.059 0.380 0.027 0.028 0.060 0.239 0.059
100 INDIA RUPEE 2.154 1.282 1.565 1.510 1.136 1.947 2.079 2.072 1.964 6.1919 10.069 130.068 9.547 5.749 20,904 173.438 12.339 79.526 5.697 5.870 12.619 50.023 12.236
100 JAPAN YEN 1.242 0.739 0.902 0.871 0.655 1.122 1.199 1.195 1.132 3.5701 5.806 74.994 5.505 3.315 12,053 57.658 7.115 45.853 3.285 3.384 7.276 28.842 7.055
100 NORWEGIAN KRONER 17.453 10.390 12.685 12.235 9.202 15.776 16.851 16.792 15.918 50.1800 81.600 1,054 77.374 46.589 169,407 810.414 1,406 644.490 46.172 47.570 102.262 405.397 99.159
100 PHILIPPINE PESO 2.708 1.612 1.968 1.898 1.428 2.448 2.615 2.605 2.470 7.7860 12.661 163.553 12.005 7.229 26,285 125.745 218.089 15.516 7.164 7.381 15.867 62.902 15.386
100 QATAR RIYAL 37.800 22.504 27.473 26.500 19.931 34.168 36.497 36.368 34.475 108.6813 176.732 2,283 167.578 100.904 366,906 1,755 3,044 216.583 1,396 103.027 221.482 878.020 214.761
100 SAUDI RIYAL 36.689 21.842 26.665 25.721 19.345 33.164 35.425 35.299 33.462 105.4877 171.539 2,216 162.654 97.939 356,125 1,704 2,955 210.219 1,355 97.062 214.974 852.219 208.450
100 SWEDISH KRONOR 17.067 10.160 12.404 11.965 8.999 15.427 16.479 16.420 15.565 49.0700 79.795 1,030.769 75.662 45.558 165,659 792.487 1,374 97.788 630.234 45.150 46.517 396.429 96.965
100 THAI BAHT 4.305 2.563 3.129 3.018 2.270 3.891 4.157 4.142 3.926 12.3780 20.128 260.014 19.086 11.492 41,788 199.906 346.713 24.667 158.978 11.389 11.734 25.225 24.460
100 HK$ 17.601 10.478 12.792 12.339 9.280 15.910 16.994 16.934 16.053 50.6057 82.292 1,063.028 78.030 46.984 170,844 817.289 1,417 100.848 649.958 46.563 47.973 103.130 408.836
Note: Run your finger down the left-hand side until you reach the country of origin you plan to exchange. Then move your finger until that line intersects with the vertical column of the currency you wish to buy. The figure is how much you will get. The above rates are subject to change and provided by Thompson Reuters.
THU R S DAY JA N UA RY 1 8 , 20 1 8 • T HE ED G E FINA NCIA L DA ILY
Markets 3 1
FUTURES . MONEY MARKET . COMMODITIES

Index futures Money market

Long Rolls - KLCI futures EURO Klibor
FKLI
Index points Open Interest Index points Euro/USD Implied interest rate (%)
1980 90000 18.00 -1.00 1.58 4.5
1,833.50 (-1.50) 3.55
(Unch) (Unch)
1785 68000 4.75 1.44
3.5
1.2206
1590 46000 -8.50 1.30 (-0.0053)

2.5
1395 24000 -21.75 1.16

1200 2000 -35.00 1.02 1.5

Jan 4, 2010 Jan 17, 2018 Jan 4, 2010 Jan 17, 2018 Jan 2, 2006 Jan 17, 2018 Oct 1, 2000 Jan 17, 2018

FBM KLCI futures FBM KLCI futures Euro drops after hitting a Klibor
contracts end mostly lower INDEX AND FUTURES
CONTRACT LAST CHANGE VOLUME
OPEN CHANGE IN
INTEREST OPEN INTEREST
three-year high on ECB talk MONTH SETTLEMENT
PRICE
CHANGE VOLUME OPEN
INTEREST

The FBM KLCI futures contracts on Bursa FBMKLCI 1,828.63 2.60 151.6M The euro fell nearly 0.5% yesterday after JAN8 96.56 0.06 — —
FEB8 96.48 — — —
Malaysia Derivatives ended mostly lower JAN 18 1,833.50 0.00 3,579 34,650 724 rocketing to a fresh three-year high above MAR8 96.45 — — —
yesterday despite the higher cash market. FEB 18 1,833.00 -1.00 68 463 5
US$1.2206 as some investors ramped up JUN8 96.40 — — —
MAR 18 1,832.00 -0.50 41 487 -4
At the close, January 2018 was flat at JUN 18 1,829.00 -0.50 10 187 2
bullish bets about the currency, though SEP8 96.40 — — —
1,833.5; February 2018 slipped one point to TOTAL concerns voiced by policymakers this week DEC8 96.40 — — —
3,698 35,787 727
MAR9 96.35 — — —
1,833; while March 2018 and June 2018 eased damped broader optimism. JUN9 96.35 — — —
0.5 point each to 1,832 and 1,829 respectively. FUTURES
JAN/FEB
ROLL OVER BID
0.0
OFFER
-1.0
CLOSE
-1.0
Reflecting the apparent disquiet among SEP9 96.35 — — —
Turnover increased to 4,802 lots from some European Central Bank (ECB) DEC9 96.35 — — —
Monday’s 2,493 lots, while open interest FUTURES FAIR VALUE policymakers about the euro’s vigour, a MAR0 96.35 — — —
JUN0 96.35 — — —
widened to 36,231 contracts from 33,539 CONTRACT JAN 18
DAYS TO EXPIRY
14
KLIBOR DIVIDEND FAIR VALUE
2.07 0.00 4.54
remark by ECB policymaker Ewald Nowotny SEP0 96.35 — — —
contracts previously. FEB 18 43 6.68 5.36 1.32 that the euro’s recent strength against the US DEC0 96.35 — — —
The underlying benchmark FBM KLCI ROLL’S FAIR -3.22 dollar is “not helpful” encouraged a bout of MAR1 96.35 — — —
finished 2.60 points higher at 1,828.63. profit-taking before a policy meeting next JUN1 96.35 — — —
SEP1 96.35 — — —
Vietnamese stocks posted their biggest loss week.
DEC1 96.35 — — —
in well over a year yesterday and Indonesia “The euro’s strength will cause some MAR2 96.35 — — —
marked a new closing high for a second session, concerns to the ECB and it will definitely JUN2 96.35 — — —
while others in the region were largely muted. complicate their policymaking thinking, SEP2 96.35 — — —
Earlier in the day, Asian equities retreated shares were pummelled by falling oil and and some investors are taking profits after DEC2 96.35 — — —
TOTAL 0 0
from record highs as the region’s resource commodity prices. — Agencies the recent rally,” said an analyst. — Reuters

Commodities CPO prices react to various factors including soyoil prices, weather conditions and stockpiles. Open interest shows either increasing or decreasing market participation.

CPO & Open Interest CPO vs Soyoil Crude Oil

Gold
US$/troy oz
CPO RM/tonne Open Interest CPO RM/tonne Soyoil US$/Ibs US$/bbl
1980
4200 200000 6400 0.700 155.00

3450 5075 0.3298 0.525 121.25

1660 1,336.60
152500 (-0.50)
(RM2,873/tonne)

2700 87.50 1340

105000 3750 0.350
63.42
(-0.31)
1950 53.75 1020
2,485 57500 2425 0.175
(-33) 2,485
1200 (-33) 700
10000 20.00
1100 0.000
Jan 6, 2008 Jan 17, 2018 Apr 10, 2007 Jan 17, 2018 Aug 31, 2008 Jan 17, 2018
Jan 6, 2008 Jan 17, 2018

Palm oil slumps to three- CPO futures Oil edges back from early Commodities

week low on firm ringgit CONTRACT

FEB-18
LAST
2,477
CHANGE
-27
VOLUME
223
OPEN CHANGE IN
INTEREST OPEN INTEREST
6,175 -392
gains, but prices still supported AGRICULTURE
CRUDE PALM OIL
UNIT
RM/TON
EXCHANGE
MDEX
LAST PRICE CHANGE
2,485 -33
RUBBER SEN/KG MRB 591.50 -7.50
MAR-18 2,483 -32 4,093 10,289 -2,539
Malaysian palm oil futures slumped to a Oil prices weakened following early gains CORN USC/BSH CBOT 348.50 0.25
APR-18 2,485 -33 25,084 34,712 1,081
SOYBEANS USC/BSH CBOT 966.25 -1.75
three-week low yesterday evening as a firmer MAY-18 2,482 -33 7,977 38,170 920 yesterday, but remained underpinned
WHEAT USC/BSH CBOT 416.75 0.25
ringgit and weak demand weighed on the JUN-18 2,475 -27 3,494 45,630 1,888 by tightening supply and strong global LIVE CATTLE USC/IBS CME 120.38 0.93
market. CPO FUTURES CPO/SOYOIL demand. COCOA US$/TON NYBOT 1,947 -4
The benchmark palm oil contract for April INDICATIVE ROLL-OVER CURRENT FUTURES BASIS (USD) Tighter fundamentals have lifted both COFFEE USC/IBS NYBOT 123.25 0.30
FEB/MAR -6 -74.29
delivery on Bursa Malaysia Derivatives was FEB/APR -8 3 MONTHS AVERAGE -96.51
crude futures benchmarks about 13% SUGAR USC/IBS NYBOT 13.78 0.01
down 1.2% at RM2,485 a tonne, a second FEB/MAY above levels in early December, helped COTTON USC/IBS NYC 81.85 -0.01
-5 6 MONTHS AVERAGE -90.50
straight session of decline. Earlier in the MAR/APR -2 by production curbs by Opec and Russia, METAL & PRECIOUS METALS
TIN US$/TON KLTM 20,370 120
session, it dropped as much as 1.9% to SGS & ITS EXPORT ESTIMATES (TONNES) as well as by healthy demand growth. COPPER USC/IBS CMX 3.2065 -0.0130
RM2,471, the weakest since Dec 26. SHIPMENT DAYS NOV’17 DECT’17 JAN’18 Global benchmark Brent curde futures GOLD US$/TROY OZ CMX 1,336.60 -0.50
“The market is down on lack of demand, 1 - 10TH DAYS 440/437 339/364 359/380 were at US$68.67 a barrel, down 48 US cents PLATINUM US$/TROY OZ NYMEX 1,003.20 0.30
causing stocks to remain high,” said a trader 1 - 15TH DAYS 651/660 581/597 552/564
from the last close, after hitting US$69.37. PALLADIUM US$/TROY OZ NYMEX 1,091.50 10.90
from Kuala Lumpur. “The stronger ringgit 11 -- 20TH DAYS
25TH DAYS
883/892
1,094/1,079
865/874
1,108/1,091
—/—
—/—
Brent on Monday rose to US$70.37 a barrel, SILVER USC/TROY OZ CMX 17.15 0.00
has also impacted demand, putting us at FULL MONTH its highest since December 2014. ALUMINIUM RMB/TON SHF 14,555 -80
1,311/1,332 1,439/1,422 —/—
ZINC RMB/TON SHF 25,970 -85
uncompetitive levels again.” MALAYSIAN PALM OIL BOARD US West Texas Intermediate (WTI)
Another trader said the market is also SE’P’17 OCT’17 NOV’17 DEC’17 crude futures were at US$63.42 a barrel, ENERGY
LIGHT CRUDE OIL US$/BBL NYMEX 63.42 -0.31
expected to be cautious ahead of a European PRODUCTION 1,780 2,009 1,943 1,834 down 31 US cents on the day and down HEATING OIL USC/GAL NYMEX 2.0433 -0.0153
Union (EU) vote to curb palm oil imports. EXPORT
STOCKS
1,515
2,019
1,549
2,190
1,354
2,557
1,423
2,732
from an earlier high of US$63.96. WTI hit NATURAL GAS US$/MMBTU NYMEX 2.981 0.019
Europe is Malaysia’s second-largest export US$64.89 on Tuesday, also the highest since BRENT CRUDE US$/BBL ICE 68.67 -0.48
MPOB Palm oil physical
market, but the European Parliament backed December 2014. — Reuters GAS OIL US$/TON ICE 607.50 -7.25
a call last April for greater vetting of palm (IN RM/TON) JAN’18 FEB’18 MAC’18

oil and other vegetable oils used in biofuels CPO DELD

PK EX-MILL
2,492.00 2,480.00
NO TRADE NO TRADE NO TRADE
2,420.00 Centrifuged Latex Rubber - M’sia SMR 20
in an effort to prevent the EU’s post-2020 CPKO DELD 4,892.00 NO TRADE NO TRADE Sen/Kg
Sen/Kg
renewable transport targets from leading RBD P.OIL FOB NO TRADE NO TRADE NO TRADE 1100 1900
to deforestation. RBD P.OLEIN FOB NO TRADE NO TRADE NO TRADE
493.00
A large portion of Europe’s palm oil RBD P. STEARIN FOB NO TRADE NO TRADE NO TRADE 900 (-3.50) 1475 591.50
imports is used to make biofuels. The EU MPOB FFB REF PRICE (MILL GATE PRICE) (-7.50)

Parliament is set to vote on the proposal REGION GRADE A GRADE B GRADE C 700 1050
OER (RM/TON) OER(RM/TON) OER (RM/TON)
yesterday. NORTH 20.00% 560 19.00% 535 18.00% 511
Continued appreciation in the ringgit SOUTH 20.00% 560 19.00% 536 18.00% 512
500 625
and listless competing vegetable oils may CENTRAL 20.00% 553 19.00% 529 18.00% 505
also weigh on the market and hamper any EAST COAST 20.00% 556 19.00% 532 18.00% 508 300 200
SABAH 22.00% 538 21.00% 516 20.00% 494 Jan 7, 2007 Jan 17, 2018 Jan 7, 2007 Jan 17, 2017
recovery, he said. — Reuters SARAWAK 22.00% 544 21.00% 521 20.00% 499
 Markets
32 T HUR SDAY JAN UARY 1 8, 2 0 1 8 • TH E EDGE FI N AN C I AL DAI LY

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
YOUR DAILY FINANCIAL MARKET S ROUNDUP I N S I D E R M OV E S . T R A D I N G T H E M E S . E V E N T S . FO 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
RESEARCH: TAI TS [tai@bizedge.com] 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 5

KLCI 1,828.63 2.60 FBM ACE 6,806.18 25.42 FTSTI 3,541.91 8.30 NIKKEI 23,868.34 83.47 HANG SENG 31,983.41 78.66 DOW JONES 25,792.86 10.33

Nothing is so firmly believed as that which we least Market movers

know. — Michel de Montaigne
Daily top 20 active stocks
UNUSUAL MARKET ACTIVITIES TURNOVER CHANGE CHANGE PRICE PE DIVIDEND
FBM KLCI & KLCI futures intraday (‘000) (RM) (%) (RM) RATIO YIELD (%)
STOCK VOLUME CHANGE CHANGE CLOSE HIGH LOW NETX 545,194.4 0.005 11.11 0.050 18.00 0.00
('000) (%) (RM) (RM) (RM) (RM) SUMATEC 509,754.4 -0.020 -16.67 0.100 — 0.00
1836.0
Index point 1,833.50 NETX 545,194 11.11 0.005 0.050 0.050 0.040 XINGHE 271,600.5 0.010 16.67 0.070 5.66 0.00
(Unch)
1834.4 XINGHE 271,601 16.67 0.010 0.070 0.085 0.065 PERISAI 235,572.3 -0.015 -16.67 0.075 — 0.00
1832.8 XINGHE-WA 144,404 0.00 0.000 0.015 0.020 0.015 UMWOG 149,573.0 -0.020 -4.94 0.385 — 0.00
1831.2 PA-WB 92,215 6.25 0.005 0.085 0.090 0.075 XINGHE-WA 144,403.8 UNCH UNCH 0.015 — 0.00
MAXWELL 78,264 75.00 0.015 0.035 0.040 0.015 GLOTEC 133,574.8 UNCH UNCH 0.060 — 0.00
1829.6 1,828.63
KLCI futures (+2.60) UMWOG-WA 56,742 -9.52 -0.020 0.190 0.210 0.185 PUC 112,031.5 -0.010 -3.23 0.300 182.35 0.00
1828.0
SUMATEC-WB 49,287 -20.00 -0.010 0.040 0.045 0.035 SAPNRG 98,616.1 -0.035 -4.14 0.810 — 1.18
1826.4
NEXGRAM 44,678 12.50 0.005 0.045 0.045 0.040 PA-WB 92,215.3 0.005 6.25 0.085 — 0.00
1824.8 NETX-WB 44,349 20.00 0.005 0.030 0.030 0.025 MAXWELL 78,263.5 0.015 75.00 0.035 — 0.00
1823.2 KL Composite Index MAXWELL-WA 32,902 100.00 0.005 0.010 0.010 0.005 HUBLINE 69,126.1 -0.010 -8.00 0.115 — 0.00
1821.6 SUPERMX-C27 28,771 50.00 0.065 0.195 0.215 0.120 PA 63,664.4 0.005 4.76 0.110 — 0.00
1820.0 FINTEC-PA 26,819 0.00 0.000 0.075 0.080 0.070 DGSB 61,260.8 -0.010 -7.41 0.125 1,350.00 0.00
8:45 9:30 10:30 11:30 12:45 14:30 15:30 16:30 17:15
MQTECH 23,556 16.67 0.010 0.070 0.075 0.065 UMWOG-WA 56,741.7 -0.020 -9.52 0.190 — 0.00
SUPERMX-C33 21,044 16.67 0.030 0.210 0.240 0.180 SUMATEC-WB 49,286.5 -0.010 -20.00 0.040 — 0.00
Daily FBM KLCI GPACKET 18,900 1.75 0.010 0.580 0.590 0.555 DAYA 48,613.4 -0.010 -9.52 0.095 — 0.00
MTRONIC 18,059 9.09 0.005 0.060 0.060 0.055 NEXGRAM 44,678.2 0.005 12.50 0.045 — 0.00
KL Composite Index Moving average - 20-day NETX-WB 44,349.0 0.005 20.00 0.030 — 0.00
Table above is from Reuters Volume break 3x 5-day average volume, meaning the total number of shares
2030.0 HIBISCS 38,617.7 -0.050 -4.46 1.070 43.92 0.00
1,828.63 traded for a particular counter on the previous trading day is more than triple the average volume for the
(+2.60) 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. Top gainers and losers (ranked by RM)
1727.5
UP
1425.0
1,795.09 FBM KLCI up on 11th-hour CLOSE
CHANGE
(RM)
DOWN
CLOSE
CHANGE
(RM)

spike as Bursa small caps fall HLBANK

NESTLE
17.800
106.600
0.580
0.500
BAT
HENGYUAN
32.600
13.800
-0.600
-0.540
1122.5 HARTA 11.100 0.360 PETGAS 17.940 -0.420
TOPGLOV 9.000 0.240 UTDPLT 27.960 -0.240
KUALA LUMPUR: The FBM KLCI rose 2.6 points or 0.1% DENKO 1.800 0.230 MAYBANKC37 0.140 -0.210
820.0 yesterday after an 11th-hour spike and as the ringgit HSI-C3B 0.985 0.185 MAGNI 5.230 -0.180
Jan 2, 2008 Jan 17, 2018 strengthened against major currencies. HSI-C3A 0.735 0.135 VITROX 6.200 -0.150
At 5pm, the FBM KLCI closed at 1,828.63 points after GENTING 9.610 0.130 PETRONM 12.140 -0.140
900
falling to its intraday low at 1,821.54. The FBM KLCI reversed UMS 2.730 0.130 HENGYUAN-CA 0.975 -0.135
VS 3.050 0.120 HSI-H4C 0.750 -0.130
losses as FBM KLCI-linked Hong Leong Bank Bhd and
600 SERNKOU 1.680 0.120 KAREX-C9 0.095 -0.125
Genting Bhd shares rose among Bursa Malaysia top gainers. UMW 6.820 0.110 PERSTIM 4.230 -0.120
300 Bursa small-cap stocks fell. The FBM Small Cap Index
fell 150.53 points or 0.85% to close at 17,528.90 points. Top gainers and losers (ranked by percentage)
0
Across Bursa, 4.97 billion shares valued at RM2.79 billion

 
Volume (’mil)
were traded. Hong Leong Bank was the top gainer, while UP CHANGE DOWN CHANGE
CLOSE (%) CLOSE (%)
Genting Bhd was the eighth-largest advancer.
FBM KLCI futures AmInvestment Bank Bhd analyst Lim Sae Wai told RHBBANK-C2 0.030 200.00 MBSB-C3 0.005 -75.00

CONTRACT SETTLEMENT CHANGE HIGH LOW

theedgemarkets.com : “The Small-Cap Index is going through MAXWELL-WA 0.010 100.00 BIMB-CV 0.010 -71.43
SAPNRGC51 0.010 100.00 FBMKLCI-H4G 0.005 -66.67
JAN 18 1,833.50 UNCH 1,835.00 1,822.50 a steeper correction, but its recent peak in early January was TIGER-WB 0.010 100.00 MAYBANKC37 0.140 -60.00
FEB 18 1,833.00 -1.00 1,833.50 1,824.00 pretty overboard, so it is not surprising to see a bit of a pullback. SUPERMX-C28 0.085 88.89 FGV-C28 0.015 -57.14
MAR 18 1,832.00 -0.50 1,833.50 1,823.50
There is a perceived negative sentiment on the weaker US MAXWELL 0.035 75.00 KAREX-C9 0.095 -56.82
dollar towards selected export-oriented companies.” APFT-WA 0.015 50.00 MMCCORP-C7 0.005 -50.00
FBM KLCI sensitivity* The ringgit strengthened against the US dollar and SAPNRGC53 0.015 50.00 BJASSET-WA 0.005 -50.00

KLCI CHANGE CLOSE VOLUME Singapore dollar. Compared to the US dollar, the ringgit YTLPOWR-C1 0.015 50.00 JTIASA-CP 0.005 -50.00
POINTS (RM) (RM) ('000) SUPERMX-C27 0.195 50.00 FGV-C37 0.050 -44.44
HONG LEONG BANK 2.06 0.580 17.800 887.4
appreciated to its strongest level yesterday at 3.9435. Over VS-CQ 0.265 35.90 ARMADA-C27 0.020 -42.86
GENTING 0.82 0.130 9.610 3772.7 the last one year, the exchange rate was between 3.9435 and EAH-WB 0.020 33.33 MRCB-C18 0.015 -40.00
GENTING MALAYSIA 0.78 0.080 5.570 9253.0 4.4618.
TELEKOM MALAYSIA 0.68 0.110 6.110 2279.9 Against the Singapore dollar yesterday, the ringgit Top gainers and losers - warrants (ranked by percentage)
DIGI.COM 0.64 0.050 4.820 2740.6 apreciated to its firmest point at 2.9833. Over the last one
IHH HEALTHCARE 0.54 0.040 6.000 3452.5 UP CHANGE DOWN CHANGE
MAYBANK 0.53 0.030 9.880 6245.6
year, the exchange rate was between 2.9833 and 3.1786. CLOSE (%) CLOSE (%)
RHB BANK 0.46 0.070 5.250 3947.0 — by Adam Aziz RHBBANK-C2 0.030 200.00 MBSB-C3 0.005 -75.00
IOI CORPORATION 0.31 0.030 4.660 9066.6
World equity indices MAXWELL-WA 0.010 100.00 BIMB-CV 0.010 -71.43
MISC 0.29 0.040 7.440 1248.6 SAPNRGC51 0.010 100.00 FBMKLCI-H4G 0.005 -66.67
MAXIS 0.26 0.020 6.020 3175.4 CLOSE CHANGE CLOSE CHANGE TIGER-WB 0.010 100.00 MAYBANKC37 0.140 -60.00
PETRONAS CHEMICAL -0.26 -0.020 8.170 13200.7
DOW JONES 25,792.86 -10.33 INDONESIA 6,444.52 14.83 SUPERMX-C28 0.085 88.89 FGV-C28 0.015 -57.14
CIMB GROUP -0.30 -0.020 6.770 7927.1
S&P 500 2,776.42 -9.82 JAPAN 23,868.34 -83.47 APFT-WA 0.015 50.00 KAREX-C9 0.095 -56.82
TENAGA NASIONAL -0.56 -0.060 15.820 9161.2
NASDAQ 100 6,737.14 -21.40 KOREA 2,515.43 -6.31 SAPNRGC53 0.015 50.00 MMCCORP-C7 0.005 -50.00
PRESS METAL -0.76 -0.120 5.630 7707.9
FTSE 100 7,755.93 -13.21 PHILIPPINES 8,848.99 -16.14 YTLPOWR-C1 0.015 50.00 BJASSET-WA 0.005 -50.00
PETRONAS GAS -1.36 -0.420 17.940 665.6
AUSTRALIA 6,015.81 -32.82 SINGAPORE 3,541.91 -8.30 SUPERMX-C27 0.195 50.00 JTIASA-CP 0.005 -50.00
SUB-TOTAL 4.12
CHINA 3,444.67 8.08 TAIWAN 11,004.80 18.69 VS-CQ 0.265 35.90 FGV-C37 0.050 -44.44
OTHERS -1.52
HONG KONG 31,983.41 78.66 THAILAND 1,828.88 7.05 EAH-WB 0.020 33.33 ARMADA-C27 0.020 -42.86
GRAND TOTAL 2.60
INDIA 35,081.82 310.77 VIETNAM 1,034.69 -28.27 SUPERMX-C29 0.160 28.00 MRCB-C18 0.015 -40.00
* How stock price changes affected the index on the previous trading day

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