FBM KLCI 1792.79 10.09 KLCI FUTURES 1799.50 5.50 STI 3464.28 33.98 RM/USD 4.0120 CPO RM2607.

33.98 RM/USD 4.0120 CPO RM2607.00 75.00 OIL US$66.88 0.31 GOLD US$1316.00 0.10
PP 9974/08/2013 (032820)
PENINSULAR MALAYSIA RM1.50

THURSDAY JANUARY 4, 2018 ISSUE 2564/2018

FINANCIAL
DAILY
www.theedgemarkets.com
MAKE
BETTER
DECISIONS
Malaysia’s office market crash
unlikely, but glut to persist — Savills
4 HOME BUSINESS

3 HOME BUSINESS

Perennial, Shun Tak

in US$1.2b JV to
invest in healthcare
projects in China
5 HOME BUSINESS SAMLING
Westports’ 2017
container volume
falls 9.5% PLANNING R
5 HOME BUSINESS

‘Asia-based
exporters advised
RM1 BILLION IPO ENOW!
N T E

to hedge US dollar
proceeds’
for Bentley
6 HOME BUSINESS

Smoke to clear for

dealer
Malaysia’s tobacco It is
i exploring
l i d duall listing
li ti off
market auto ops in Kuala Lumpur,
13 HOME Singapore later this year
Decision to quash — sources.
Zakir ban bid on Story on Page 2.
Feb 13
2 3 L I VE I T !

A debonair Renault
Koleos 4WD SUV
Pre-election rally may be getting started
Trading volume surpassed five billion shares for the first time
since March last year 3 H O M E B U S I N E S S

There is no mystery
about a Girard-Perregaux,
simply more than two centuries of craftsmanship
and a perpetual commitment to perfection.

LAUREATO, STEEL CASE, 41 MM, LIMITED EDITION OF 225 PIECES

 FBM KLCI 1792.79 10.09 KLCI FUTURES 1799.50 5.50 STI 3464.28 33.98 RM/USD 4.0120 CPO RM2607.00 75.00 OIL US$66.88 0.31 GOLD US$1316.00 0.10
PP 9974/08/2013 (032820)
PENINSULAR MALAYSIA RM1.50

THURSDAY JANUARY 4, 2018 ISSUE 2564/2018

FINANCIAL
DAILY
www.theedgemarkets.com
MAKE
BETTER
DECISIONS
Malaysia’s office market crash
unlikely, but glut to persist — Savills
4 HOME BUSINESS

3 HOME BUSINESS

Perennial, Shun Tak

in US$1.2b JV to
invest in healthcare
projects in China
5 HOME BUSINESS SAMLING
Westports’ 2017
container volume
falls 9.5% PLANNING
5 HOME BUSINESS

‘Asia-based
exporters advised
RM1 BILLION IPO
to hedge US dollar
proceeds’
for Bentley
6 HOME BUSINESS

Smoke to clear for

dealer
Malaysia’s tobacco It is
i exploring
l i d duall listing
li ti off
market auto ops in Kuala Lumpur,
13 H O M E Singapore later this year
Decision to quash — sources.
Zakir ban bid on Story on Page 2.
Feb 13
23 L I VE I T !

A debonair Renault
Koleos 4WD SUV
Pre-election rally may be getting started
Trading volume surpassed five billion shares for the first time
since March last year 3 H O M E B U S I N E S S

There is no mystery
about a Girard-Perregaux,
simply more than two centuries of craftsmanship
and a perpetual commitment to perfection.

LAUREATO, STEEL CASE, 41 MM, LIMITED EDITION OF 225 PIECES

2 T HU R SDAY JAN UARY 4, 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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(266980-X)
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BUSINESS DEVELOPMENT
Senior Manager Elizabeth Lay
‘Samling plans RM1b
IPO for Bentley dealer’
It’s said to be exploring dual listing of auto ops in KL, S’pore this year
BY ELFF IE CHEW
KUALA LUMPUR: Samling Group,
the Malaysian timber giant, is
planning an initial public offering
(IPO) of its automotive operations
that could raise more than RM1
billion, people with knowledge
of the matter said.
Samling is working with ad-
visers to explore a possible dual
listing of the business in Kua-
la Lumpur and Singapore later
this year, according to the people.
The share sale could include Sam-
ling’s domestic car dealership di-
vision as well as operations under
StarChase, a luxury auto distributor
backed by the group’s controlling
Yaw family, one of the people said,
asking not to be identified because
Stock fund that beats 95% of
peers ignores CEO talk, research
BY JONAS CHO WALS G ARD
STOCKHOLM: Reading brokerage
research and meeting chief execu-
tive officers (CEOs) are a waste of
time for this fund manager.
Both are unlikely to provide
any useful information to beat the
market, according to Kurt Kara,
head of value equities at Copen-
hagen-based Maj Invest.
“The best research is the one
you generate internally,” Kara said
in a phone interview. “We want to
create our own mindset, logic and
reasoning.”
For the Maj Invest Value Aktier
fund, that philosophy has paid off
in a 16% return on average in the
past five years. That’s better than
95% of its peers, according to data
compiled by Bloomberg.
the information is private.
StarChase runs dealerships in
Hong Kong and mainland China
selling brands including Porsche,
Aston Martin and Volvo. In 2014, it
paid S$455 million to acquire Unit-
ed Engineers Ltd’s Wearnes Auto-
motive Pte unit, which distributes
Bentley and Jaguar cars in Singapore
and Indonesia. Samling itself sells
Bentley, Mitsubishi and Honda ve-
hicles in Malaysia and provides af-
ter-sales services for those marques,
according to its website.
Any deal will add to the US$11.3
billion raised through first-time
share sales in Southeast Asia last
year, up from US$6.1 billion in
2016, data compiled by Bloomberg
show. Samling would join Malay-
sian state-backed hospital oper-
Kara and his team members use
three steps in their investment pro-
cess. The first is a scoring system of
20,000 lines of code that Kara pro-
grammed himself. It looks at 6,000
to 7,000 stocks globally, scoring
them on about 150 metrics based
on fundamentals and valuation.
What comes out on top is then culled
based on the probability of account-
ing fraud, internal rate of return and
the CEO’s efficiency. The final step
is making a decision to invest.
“We combine our knowledge
with the machine’s,” said Kara, who
oversees US$5.5 billion (RM22.14
billion). “That’s a better approach
than just filtering stocks using
screens and just buying cheaply
because we’re value investors.”
The fund, started in 2005, holds
25 to 35 stocks to give it enough di-
For breaking news updates go to
www.theedgemarkets.com
ator IHH Healthcare Bhd, which
completed a dual listing in Kuala
Lumpur and Singapore in 2012.
Deliberations are at an early
stage, and Samling may opt to list
the business in only one stock mar-
ket, according to one of the people.
A representative for Samling,
based in Sarawak, didn’t imme-
diately respond to requests for
comment. StarChase didn’t imme-
diately answer a call to its Shang-
hai office and an email sent to a
general inquiry address.
Samling, founded in 1963, is
focused on forestry management
and timber production as well as
wood product manufacturing. It
is also involved in oil palm culti-
vation and property development.
— Bloomberg
versification, according to Kara, who
previously worked at Danske Bank.
The biggest holdings are MTU Aero
Engines AG, Taiwan Semiconduc-
tor Manufacturing Co, and General
Motors Co, which the fund bought
three to four months ago.
As money has piled into the so-
called disruptive technology com-
panies, Kara now sees opportunity
in the “hated” stocks, perceived as
being “covered by dust”, such as
railway and trading companies.
The fund doesn’t hold Apple Inc,
Alphabet Inc, Facebook, Inc or Am-
azon.com Inc, mainly due to over-
valuation.
“The biggest risk right now is re-
lated to the disruptive stocks,” he
said. “People have put too much
of a price tag on these stocks and
bitcoin as well,” — Bloomberg
IN BRIEF
Selangor Dredging
declares special
dividend of 19 sen
KUALA LUMPUR: Selangor
Dredging Bhd (SDB) has de-
clared a special dividend of 19
sen per share from proceeds of
the group’s sale of Wisma Sel-
angor Dredging. The dividend
is payable on Jan 29 with the ex-
date set on Jan 16, SDB said in a
filing with Bursa Malaysia. SDB
had announced the disposal of
Wisma Selangor Dredging to
Golden Eagle Realty Sdn Bhd,
a company owned by business-
man Tan Sri Koo Yuen Kim, for
RM480 million on June 20 last
year. Apart from using the gross
proceeds to settle outstanding
debts (RM248.75 million), work-
ing capital (RM103.07 million),
and repay borrowings (RM19.2
million), SDB had proposed to
distribute RM80.96 million of
the proceeds to shareholders
via a special dividend. — By
Sangeetha Amarthalingam
No fanfare for Indonesia
as economy hits
trillion-dollar mark
JAKARTA: Indonesia’s economy,
the largest in Southeast Asia, hit
a milestone last year by reaching
US$1 trillion (RM4.02 trillion),
yet the mood wasn’t celebratory
as the government continued to
miss its revenue targets. Gross
domestic product (GDP) was
an estimated US1.004 trillion in
2017, but economic growth was
probably lower than the 5.2% in-
itially projected. Despite having
the fourth-biggest population
in the world, the government
collects little tax from its citi-
zens. Government revenue was
14% of GDP in 2016, lower than
its peers, and a key obstacle to
faster growth and credit-rating
upgrades. — Bloomberg
MyEG launches
employer-foreign worker
matching service
KUALA LUMPUR: My EG Ser-
vices Bhd (MyEG) yesterday
launched a new commercial
service to provide job match-
ing and placement services to
match Malaysian employers
with foreign workers. “This ser-
vice complements the com-
pany’s other existing foreign
worker-related services, includ-
ing the online renewal of work
permits and the rehiring pro-
gramme as well as the respec-
tive online renewal of foreign
worker insurance,” said MyEG
in a filing with Bursa Malaysia.
— By Syahirah Syed Jaafar
GIC JV buys US
student housing
portfolio for US$1.1b
SINGAPORE: The joint venture
(JV) formed by Singapore sover-
eign wealth fund GIC, the Can-
ada Pension Plan Investment
Board and The Scion Group, has
acquired a student housing port-
folio in the US for approximately
US$1.1 billion (RM4.42 billion).
According to a Straits Times re-
port, the portfolio consists of 24
assets located in 20 university
campus markets across the US,
comprising 13,666 beds.
THU R S DAY JA N UA RY 4 , 20 1 8 • T HE ED G E FINA NCIA L DA ILY
Pre-election rally may be getting started
Trading volume surpassed five billion shares for the first time since March last year
BY B I L LY TOH
KUALA LUMPUR: Malaysia’s stock
market showed first signs of the
much-anticipated pre-election rally
yesterday, as market breadth turned
bullish with 771 stocks advanced
compared with 305 declines.
Trading volume surpassed five
billion shares for the first time since
March last year, with 5.11 billion
shares worth RM3.68 billion traded
yesterday compared with Tuesday’s
3.7 billion shares worth RM2.11 bil-
lion. This has prompted some ana-
lysts to suggest a pre-election rally
could be at play.
Stocks likely to benefit in the run-
up to the 14th general election (GE14)
also moved to the upside yester-
day. Shares in Malaysian Resourc-
es Corp Bhd (MRCB) climbed 7.8%
to RM1.25, while DRB-Hicom Bhd
traded up 1.8% to RM2.30. My EG
Services Bhd (MyEG) gained more
than 10% to RM2.46, and was among
the top gainers. UMW Oil & Gas Corp
Bhd shares rose 1.5% to 33 sen, while
KUB Malaysia Bhd added 3.5% to
44.5 sen and Felda Global Ventures
Holdings Bhd (FGV) shares were up
3.3% at RM1.86.
“The stock market is showing a
very positive trend upwards as vol-
ume hit 5.1 billion shares, while close
to 800 counters were in positive ter-
ritory. It is likely the momentum is in
anticipation of the country’s general
election [taking place] in the first half
of this year,” Hong Leong Investment
Bank head of retail research Loui Low
told The Edge Financial Daily on the
phone yesterday.
This means the dissolution of par-
liament is likely to happen in Feb-
ruary.
Historically, the Malaysian equity
market would see a rally before par-
liament is dissolved.
Maybank Investment Bank head
of research Wong Chew Hann said
Perennial, Shun Tak in JV to invest in healthcare in China
BY S UPR I YA SU REND RA N
KUALA LUMPUR: Singapore Ex-
change-listed real estate and health-
care company Perennial Real Estate
Holdings Ltd has set up a joint ven-
ture (JV) with Shun Tak Holdings
Ltd and five others, with a targeted
capital commitment of up to US$1.2
billion (RM4.8 billion) to invest in
healthcare integrated mixed-use
developments that are connected
to the high-speed railway (HSR)
in China.
In a statement yesterday, Peren-
nial said the JV vehicle, Perennial
HC Holdings Pte Ltd, will invest,
acquire and develop large-scale
— and predominantly healthcare
— integrated mixed-use develop-
ments which are connected to HSR
stations.
Perennial, through its subsidiary,
will hold a 45% stake in the JV vehi-
KLCI 30-day volatility
25
GE13, May 5, 2013
20
15
10
5
0
Jan 2010
June
Nov
April 2011
Sept
Feb 2012
July
Dec
May 2013
Oct
March 2014
Aug
Jan 2015
June
Nov
April 2016
Sept
Feb 2017
July
Dec
Sources: Bloomberg, Maybank KE
there could be a combination of
factors contributing to yesterday’s
strong market performance, noting
that regional markets were also on
an uptrend.
“Foreign investors have also
turned net buyers recently, favour-
able to the equity market,” she told
The Edge Financial Daily.
In Maybank Kim Eng Research’s
regional research report dated Jan 2,
Wong is expecting a period of volatil-
ity in equities and the ringgit in the
run-up to, and post polling day, with
a sizeable political newsflow possi-
bly having an impact on investors’
sentiments.
“Assuming parliament is dissolved
just after the Chinese New Year (Feb
16 and 17), we could potentially see
higher activity in equities from Janu-
ary to [the] GE14 and some trading
opportunities may manifest.
“Our end-2018 FBM KLCI tar-
get of 1,840 points is based on 15.6
times 12-month forward earnings,”
she added.
Affin Hwang Asset Management
director of equity strategies and ad-
visory Gan Eng Peng pointed out
yesterday’s spike in the stock market
cle. The remainder is to be held by
a consortium of partners, compris-
ing a subsidiary of Shun Tak (30%),
Bangkok Bank Public Co Ltd (10%),
a subsidiary of BreadTalk Group
Ltd (5%), an investment vehicle of
Perennial chairman Kuok Khoon
Hong (4%), S1F Pte Ltd (4%), and a
subsidiary of Wilmar International
Ltd (2%). The JV agreement among
the partners was inked yesterday.
Khoon Hong, the nephew of Ma-
laysian tycoon Robert Kuok, is also
the chairman and chief executive
officer (CEO) of Wilmar. Shun Tak
is controlled by Macau gambling
king Stanley Ho.
“The first close of the total cap-
ital commitment to the JV vehicle
amounted to US$500 million,” Per-
ennial said.
The group's committed capital
contribution for its 45% stake for
the first closing amounts to US$225
KLCI performance against the volume traded on the
Malaysian stock exchange
Volume traded (Bil shares)
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0 800
Jan 3, 2007
Source: Bloomberg
was initially seen on a few political-
ly-linked counters such as MRCB,
DRB-Hicom and FGV, which quickly
spread to the rest of the market.
“Retail participation was much
higher than normal. This is probably
the early stages of a second-tier ral-
ly. We expect active rotation among
the names at high volume and this
is a trading market,” Gan said via a
text message.
CIMB Investment Bank head
of Malaysia Research Ivy Ng also
opines that yesterday’s strong mar-
ket performance signals the start of
the pre-election rally.
“The strong KLCI performance
could be due to the January effect
and [the] pre-GE14 rally as a spe-
cial Barisan Nasional (BN) supreme
council meeting will be held today
(yesterday) to discuss the prepara-
tions for GE14. January is historically
a good month for Bursa Malaysia
and historically, it has chalked up a
gain of 1.9% month-on-month over
the past 40 years,” Ng told The Edge
Financial Daily via an email.
Rakuten Trade Sdn Bhd vice-pres-
ident of research Vincent Lau con-
curs.
million, which will be funded pro-
gressively upon capital call through
internal cash and/or bank borrow-
ings.
Positioned as one-stop regional
healthcare hubs, the HSR health-
care integrated mixed-use devel-
opments, typically measuring be-
tween 300,000 sq m and 800,000 sq
m in total gross floor area (GFA),
are expected to host healthcare
real estates featuring core medi-
cal facilities, including various types
of specialised hospitals, as well as
medical centres, eldercare homes
and nursing homes.
There will also be complementa-
ry medical and healthcare-related
service facilities, including diagnos-
tic centres, pharmacies and genom-
ic laboratories, besides hotels, retail
units, serviced apartments, offices,
and small offices/home offices.
The potential total capital com-
HOME BUSINESS 3
FBM KLCI Index
2,000
1,800
1,600
1,400
1,200
1,000
Jan 3, 2018
“This could be the beginning
of the much anticipated pre-elec-
tion rally. There was [a] news report
talking about a special BN supreme
council meeting on the preparations
for the upcoming election. Most in-
vestors probably didn’t want to miss
out on the rally and the positive sen-
timent eventually spilled over to the
broader market. If you look at com-
panies such as KUB, FGV, MyEG and
MRCB, most of them are starting to
pick up.
“I think this is just the start of the
anticipated pre-election rally and
there are still legs for the market to
go further,” Lau said on the phone.
He also opines that the current
market provides a good opportunity
for investors to trade, with the KLCI
on track to breach the 1,800-point
level. The KLCI closed up 10.09 points
or 0.57% at 1,792.79 yesterday.
However, Inter-Pacific Securities
Sdn Bhd head of research Pong Teng
Siew believes the stock market ral-
ly is not sustainable, recommend-
ing investors to take profit now as
trading volume hovers above five
billion shares.
“The last time we saw volume
mitment of US$1.2 billion is ex-
pected to provide the JV with an
investment capacity to build a sig-
nificant healthcare-centric portfo-
lio in China.
In connection with the JV, Per-
ennial and Shun Tak will set up
an asset and project management
company and a hotel management
company to manage the asset, pro-
ject and hotel management aspects
of the developments, with Perenni-
al’s wholly-owned subsidiary to be
appointed as the property manager.
Perennial CEO Pua Seck Guan
said the group currently has two
existing HSR projects in China, one
in Chengdu and the other in Xi’an.
“With the establishment of this
US$1.2 billion JV vehicle, we are
excited about the potential to grow
our HSR portfolio to up to eight pro-
jects with a total GFA of over four
million square metres, positioning
traded over six billion shares was
in March last year. So, if the mar-
ket continues to see higher volume
in the near term, it is better to take
profit and by the end of the month,
you should have taken all the profit
that you can,” he said.
Rather, Pong reckons yesterday’s
strong market performance was the
result of continuous stimulus pro-
grammes by central banks worldwide
except that in the US.
“The [global] market was very
unnatural today (yesterday). Prac-
tically everywhere is going through
an upswing cycle including in Malay-
sia due to the stimulus programme
from central banks around the world.
Markets are awashed with money;
investors are reacting the only way
they can — being bullish,” he said.
Pong opines that the market is
overbought despite the good eco-
nomic indicators in the country,
as they did not translate into better
corporate earnings during the third
quarter ended Sept 30, 2017. He also
noted that cost escalation was ob-
vious for Malaysian companies as
observed from the quarterly results.
A fund manager with a local asset
management reckons local institu-
tional funds will gradually take profit
as the election date draws closer.
“This (strong market perfor-
mance) was obviously the begin-
ning of the pre-election rally. We
could take advantage of the rally by
taking some profits as we approach
the election.
“While it appears that the incum-
bents are on a stronger footing now,
the risk of an unprecedented victory
by the opposition at the ballot box
has not been priced in. There will be
a knee-jerk reaction if that happens,
and we don’t want to be caught off
guard. I think when parliament is
dissolved, foreign investors could
turn net sellers or stay on the side-
lines,” he said.
Perennial as a leading player with
the largest HSR portfolio,” he said.
“The JV also marks our first foray
into the hospitality business with
the hotel management partnership
with Shun Tak, which has a strong
track record in property develop-
ment and asset management, par-
ticularly in the hospitality industry.
The potential portfolio of HSR pro-
jects is expected to create a sizeable
hotel portfolio,” he added.
Overall, Pua said the synergies
that can be created between the
various real estate components and
businesses are expected to max-
imise the value of Perennial’s real
estate, medical, healthcare and el-
dercare businesses.
“The income contributions from
the various management business-
es are also expected to deliver sta-
ble income streams in the coming
years,” he said.
4 HOME BUSINESS
Office market crash
unlikely, but glut to persist
Overall occupancy has fallen to about 70% — Savills Malaysia
BY C H E STER TAY &
C H R I STOPH ER L I M
KUALA LUMPUR: The oversupply
in the Malaysian office market is
expected to continue in 2018, but
unlikely to cause the market to
crash, while rental rates should re-
main resilient throughout the year,
according to real estate advisory
firm Savills (Malaysia) Sdn Bhd.
If the office market were to
crash, it would have done so in 2016
or 2017, Savills Malaysia executive
chairman Datuk Christopher Boyd
said yesterday at a press briefing
to unveil the firm’s top property
picks for 2018.
“It is undoubtedly weak, but in
my view it has found some level
of stability. It is highly unlikely to
drop sharply in 2018, but develop-
ers will continue to offer rent-free
periods and other concessions to
remain competitive. Office rentals
have been remarkably resilient; we
don’t anticipate any crash in 2018,”
he said, adding the total marketed
office space in the Klang Valley now
TRX among Savills’ top property picks of 2018
BY C H ESTER TAY &
C H R I STOPH ER L I M
KUALA LUMPUR: Optimistic
about the year ahead despite a
still slow property market, real
estate advisory firm Savills (Ma-
laysia) Sdn Bhd yesterday un-
veiled its top four property picks
of 2018, including the Malay-
sian government’s Tun Razak
Exchange (TRX) project.
Savills Malaysia managing di-
rector Datuk Paul Khong (pic)
said TRX will emerge as the “most
successful” commercial devel-
opment in the country in 2018,
followed by properties adjacent
to the mass rail transit (MRT) sys-
tem, logistics-related industrial
properties, and retail properties.
Khong said when the firm an-
alysed the first-decade devel-
opment progress of several re-
nowned projects in Malaysia,
it found TRX will have the
fastest development pace
when compared with
Bangsar South, Kuala
Lumpur City Centre,
Mid Valley City and KL
Sentral.
“It had attracted in-
ternational and domestic
institutions in one cen-
tral precinct, and many of
them are not speculative,
PHOTO BY SUHAIMI YUSUF
stands at 120 million sq ft.
“It’s a very sizeable market in-
deed. Over four years, annual new
supply [will be] about five million
sq ft per annum, while the take-
up rate is approximately two mil-
lion sq ft.”
Boyd also said Savills Malaysia
had estimated the take-up rate for
2017 was about 1.2 million sq ft,
compared with 700,000 sq ft in 2016.
“So, the market does have an
element of oversupply, not life
threatening, but still enough to
keep office rentals quite stable.
We haven’t seen a crash, but of
course neither have we seen any
sharp appreciation.”
Based on the firm’s observation,
Boyd said overall occupancy in
the Malaysian office market has
dropped to about 70% currently.
However, he is unfazed. “I have
seen occupancy go below 70%, and
they recovered,” he said.
“What we are seeing now is,
well-established tenants in an ex-
isting building for six or maybe nine
years are able to move into newer
with the buyers occupying the
building themselves,” he said.
On the 106-storey Signature
Tower (Mulia Exchange 106) of-
fice building slated to be Malay-
sia’s tallest skyscraper, Khong
said Savills Malaysia has learnt
that the project has an asking
rental rate of about RM13 per sq ft
per month, excluding incentives.
“But [such information] are
speculative; they (TRX master
developer) haven’t made any
announcement. They keep it very
close to their chest. There are also
fiscal and financial incentives
in TRX, which would be worth
an equivalent of RM2 per sq ft,”
he said.
“The Signature Tower cap-
tures the top end of the office
market with double-digit rentals
and may not affect the general
grade A offices, with rentals of
RM5 to RM8 per sq ft. It (the tow-
er) covers a specific and
high-end segment of
the market, where
tenant profiles
may differ.”
Apart from the
Signature Tower,
reportedly with
a total lettable
area of three mil-
lion sq ft,
buildings, and take advantage of
better quality and higher specifica-
tion office buildings without paying
very much more rent. This is very
good for the industry as a whole.”
Boyd noted some older build-
ings, such as those over 30 years
old, and with lower density are
getting ripe for redevelopment.
“Tenants are willing to pay a lit-
tle bit more for better spaces, and
we will see a gradual reduction of
old stocks as old buildings are re-
developed. Bear in mind that some
of the older buildings were built in
very low density or plot ratio, per-
haps four or five times to site area.
Whereas now, particularly in [Kuala
Lumpur’s] Golden Triangle area, it
is not unusual to see approvals for
twice that density or more.”
Boyd said the anticipated de-
mand recovery in the residential
market in 2017 did not material-
ise, but he believes it will pick up
this year.
“There is no supply side crisis in
the residential market. In fact, new
developments are actually taking
TRX 10-year development
progress chart
% of Completion by Year 10
(%)
70
TRX
60
50 Bangsar South
KLCC
40
Mid Valley City
30
20 KL Sentral
10
0 hub.”
0 1 2 3 4 5 6 7 8 9 10
Source: Savills (Malaysia)
Khong said the oncoming office
supply would result in rentals to
be relatively flat in 2018. “It will
be a strong tenants’ market and
landlords will be competing hard
to fill their buildings.”
Khong also said the MRT sys-
tem would “create a new property
yardstick in 2018”, with properties
increasingly assessed by their dis-
tances from MRT stations.
“The MRT is providing a credi-
ble public transportation network
that is long overdue in this city.
This will [place the] focus [on]
demand around [MRT] stations
and reshape the pattern of prop-
erty values in greater KL.”
Meanwhile, Khong said logis-
tics-related industrial properties
are Savills Malaysia’s third pick
for 2018 as this sector is driven by
increasing e-commerce activities.
T HU R SDAY JAN UARY 4, 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY
place at a very low pace, which is
fine, because demand is also quite
subdued. But for Malaysia, being
such a young country, the demand
for accommodation will grow. We
can’t foresee anything this year
that will put a dampener on the
residential market.”
On retail properties, Savills Ma-
laysia deputy executive chairman
Allan Soo said established malls
will continue to enjoy high rent-
al and occupancy rates in 2018,
while new entrants will struggle
to attract tenants.
“Occupancy rate at established
malls is easily in the high nineties
or 100%. For newer ones (malls),
many of them are struggling at
60% and below. It would take them
some time to come up to even 80%,”
he said.
Meanwhile, he said rentals for
established players have hit a very
high benchmark of RM200 per sq ft.
“That is incredible, based on when
some of them started in 1998, the
highest benchmark rental was only
RM32 per sq ft.”
Other than land adjacent to
ports and airports, Khong said
certain strategic urban locations
would also be highly sought after
to be tenants’ sub-distribution
centres.
“There will be some major ac-
quisitions and development of
logistics assets as e-commerce
gathers pace, primarily with Al-
ibaba’s move into greater KL to
adopt it as its regional logistics
Savills Malaysia deputy exec-
utive chairman Allan Soo added
that the Malaysian retail scene
represents a “huge” opportuni-
ty for additional foreign brands
to establish their presence here.
“Malaysia is likely to be the top
destination for new retail brands
expanding into Southeast Asia as
there are less administrative pro-
cedures in Malaysia compared
with other countries in this re-
gion such as Indonesia.
“Malaysia provides the best
ease-of-access and the most
promising demographics. In
2017, we saw the entry of new-
to-market names such as Max, a
highly successful fashion brand
from Dubai; HLA, a high street
major from China; and LC Wai-
kiki and De Facto from Turkey.
Malaysia is attractive for many
reasons, and for most retailers,
it is easy, transparent and geo-
graphically strategic,” he said.
Wah Seong
to pay Dutch
firm £500,000
to settle
dispute
BY S A N G E E T H A
A MA RT H A L IN G A M
KUALA LUMPUR: Wah Seong Corp
Bhd will pay Dutch pipe coating
solutions fabricator and installer
Bauhuis BV £500,000 (RM2.71 mil-
lion) as part of a settlement agree-
ment, bringing an end to arbitration
proceedings in London between
the two parties.
The settlement follows an out-
standing payment claim of €3.9
million (RM18.63 million) by Bau-
huis against Wah Seong’s indirect
wholly-owned subsidiary Wasco
Coatings HK Ltd, Wah Seong said
in a filing with Bursa Malaysia yes-
terday.
The claim is for the supply of
pipe coating equipment to be in-
stalled and commissioned by Bau-
huis at a pipe manufacturing plant
in Regina, Canada, under a contract
signed in 2015.
Wasco in turn filed a counter-
claim of US$20.57 million (RM82.69
million) against Bauhuis for alleged
cost overruns and delays.
Wah Seong alleged
that Bauhuis did
not deliver all the
equipment to Wasco
while some were
defective or not fit for
the purpose.
Last November, Wah Seong said
Bauhuis had delayed in the delivery
of the equipment or obtaining the
Canadian Standards Association
approval for pipe coating equip-
ment. It said some of it required
modification because it did not
meet the specifications stated in
the 2015 contract.
Wah Seong alleged that Bauhuis
did not deliver all the equipment to
Wasco while some were defective
or not fit for the purpose, resulting
in additional cost, and losses. It
also delayed the start-up of its pipe
coating operations.
This caused a dispute between
Wasco and Bauhuis over the pay-
ment in light of the various breach-
es of the contract, followed by the
arbitration.
In its filing with Bursa Malaysia
yesterday, Wah Seong said Wasco
and Bauhuis have entered into a
settlement agreement with Wasco
agreeing to a full and final settle-
ment of £500,000 to Bauhuis.
Wah Seong said once the settle-
ment is received by Bauhuis, the
latter would instruct its solicitor to
write to the London Court of Inter-
national Arbitration to suspend the
arbitration proceedings.
Wah Seong’s share price climbed
22 sen or 20.18% to RM1.31 yester-
day, with a market capitalisation
of RM1.01 billion. The stock has
gained 60.74% in a year, and is at
its highest level since May 2015.
THU R S DAY JA N UA RY 4 , 20 1 8 • T HE ED G E FINA NCIA L DA ILY
Westports’ 2017 container
volume falls 9.5%
Less traffic due to M&A among global shipping lines
BY SU P R I YA SU REND RA N
KUALA LUMPUR: Westports
Holdings Bhd handled 9.5%
less container traffic last year,
which the terminal operator in
November last year attributed
to the industry’s recent mergers
and acquisitions among global
container shipping lines.
In 2017, it handled nine mil-
lion TEUs (20-foot equivalent
units) of containers, compared
with 9.95 million TEUs in 2016.
In a statement yesterday,
Westports pointed out that the
result is, however, within its vol-
‘Asia exporters should hedge US dollar proceeds’
BY S AM A N T HA H O
KUALA LUMPUR: Asia-based ex-
porters are advised to at least partially
hedge their upcoming US dollar pro-
ceeds, “no matter how unfavourable
the current exchange rate is”, as the
greenback is expected to continue
weakening, says UOB Global Eco-
nomics and Markets Research.
“For Asia-based exporters, this
is a painful start to the year due to
the strength of Asian currencies,” the
research house said in a foreign ex-
change (forex) strategy note yesterday.
In contrast, Asia-based importers
can afford to take a wait-and-see ap-
proach to see how low the US dollar
trades before committing to US dol-
lar-denominated purchases, said UOB
head of markets strategy Heng Koon
How and forex strategist Peter Chia.
“The pace at which the US dollar
weakens has indeed been faster than
we anticipated,” said the pair, who
FGV gets RSPO certs for eight mills, targets eight more by March
BY S AN G EETHA A MA RTHA L I NGAM
KUALA LUMPUR: Felda Global Ven-
tures Holdings Bhd (FGV), whose
share price climbed as much as 8.9%
yesterday to RM1.96, has secured
Roundtable on Sustainable Palm
Oil (RSPO) certification for eight mill
complexes at the end of last year, and
aims to get eight more mill complex-
es certified by the same by March.
In a statement, FGV said the
eight newly RSPO-certified mills are
expected to produce over 200,000
tonnes of certified sustainable
palm oil (CSPO) and almost 60,000
tonnes of certified sustainable palm
kernel oil (CSPK).
Aside from capitalising on the pre-
mium offered, FGV will be able to
ume guidance of being lower by
between 7% and 12% than in 2016.
It provided the guidance when an-
nouncing its second-quarter 2017
results in July last year.
In November last year, its chief
executive officer Ruben Emir Gnan-
alingam noted that the container
shipping industry had gone through
unprecedented recalibration and re-
alignment processes which affected
almost all major liners.
“The industry’s recent mergers
and acquisitions have affected our
container volume handled, espe-
cially of trans-shipment boxes. At
Westports, we now serve as one of
had anticipated an environment of
a weak greenback in 2018, driven by
various drivers for a stronger euro,
stronger commodities-related cur-
rencies like the ringgit and Australian
dollar, and stronger Asian currencies.
Nevertheless, they think it is pre-
mature to update the point forecasts
in their Quarterly Global Outlook
Q12018, though they maintained
that the drivers for a weaker US
dollar “remain entrenched”.
“Three key negative drivers re-
inforce US dollar weakness as we
start 2018. These are global mon-
etary policy convergence as other
central banks play catch-up with
the Fed (US Federal Reserve) in
terms of normalising policy, a US
tax reform that is of little help to the
US dollar and ongoing flattening
of the US yield curve,” they said.
In Asia, they said various Asian
central banks are on track to join the
Fed in hiking rates. “We forecast that
access markets in the European Un-
ion (EU) and North America, as well
as customers that demand certified
palm oil products, the statement read.
“This is indeed a good start to the
year, thanks to the committed work-
force in FGV who have embraced
our transformative sustainability
programme that we embarked on
in May 2016,” said FGV group pres-
ident and chief executive officer
Datuk Zakaria Arshad.
In May 2016, while FGV re-
mained a member of RSPO, it with-
drew its RSPO P&C certificates for
its mill complexes, as it acknowl-
edged that there were labour and
social issues along its supply chain
that needed to be addressed.
“We feel it is important to ad-
the Southeast Asian trans-ship-
ment hubs for Ocean Alliance, and
also as a port of call for a service
under The Alliance,” he had said.
Ocean Alliance members com-
prise Cosco Container Lines, CMA
CGM, Evergreen Line and Orient
Overseas Container Line.
Westports said the Ocean Alli-
ance members are among the key
clients of the terminal and the al-
liance unveiled its Day One Prod-
uct — which sets out the proposed
Ocean Alliance’s network — before
the commencement of its services
on April 1, 2017.
In December 2017, the Ocean
US dollar expected to
continue to weaken
105
DXY (US$ Index)
ADXY (Asia US$ Index),
Inverted − RHS
100
95
90
85
80
Jan
March
May
July
Sept
Nov
2017
Sources: Bloomberg, UOB Global
Economics & Markets Research
the People’s Bank of China (PBoC),
Bank of Korea (BoK) and Bank Ne-
gara Malaysia (BNM) will deliver at
least a 25bps (basis points) rate hike
each in the first half, with possibly
dress the areas where there were
the most concerns first,” he said.
This year, besides the eight ad-
ditional RSPO-certified mills, FGV
expects to see more than 30 mill com-
plexes audited by RSPO and the Ma-
laysian Sustainable Palm Oil (MSPO)
body by end-December, he said.
“One of our key strategies has
been the introduction of our Group
Sustainability Policy (GSP) which
applies throughout our operations,
subsidiaries and contractors to ad-
dress the gaps and create a more
inclusive supply chain. The GSP
places greater emphasis on enhanc-
ing value for our shareholders and
stakeholders in a sustainable and
inclusive manner,” said Zakaria.
FGV plans to see its 70 palm oil
HOME BUSINESS 5
Alliance announced the Day Two
Product service offering that will
commence in April this year. “Port
Klang continues to be one of the
leading trans-shipment hubs in
the region for Ocean Alliance,”
added Westports.
Westports handled a record
container volume of 9.95 million
TEUs in 2016, which was an im-
provement of 10% over the previ-
ous year’s 9.05 million TEUs — also
a record volume then.
Westports shares closed down
four sen or 1.05% at RM3.75 yes-
terday, bringing a market capital-
isation of RM12.79 billion.
BNM front-loading their rate hike,”
the duo added.
On the US tax reform, the duo
100
noted there was a lot of hope “in-
correctly placed on the potential
102 that repatriation of offshore retained
earnings by US corporates will re-
104
juvenate the US dollar”. But it’s now
106 clear that not only is the bulk of off-
shore retained earnings already in
108 US dollars, most US corporates are
rather cash-rich now and have little
110
incentive to repatriate their offshore
112 retained earnings, they said.
Meanwhile, a lack of clear ev-
Jan
2018
idence that inflation may pick up
in the US has resulted in a flatten-
ing US yield curve, with the yield
for 10-year US Treasuries stuck at
2.4% over the past year, they not-
ed. “This ongoing flattening of the
yield curve weighs down on the US
dollar and is seen as a lack of con-
viction by the market on inflation
expectations,” they added.
mill complexes certified by RSPO
and the MSPO by the end of 2021.
FGV shares pared some gains to
close at RM1.86 yesterday — still up
3.33%, after 38.05 million shares
were exchanged — with a market
capitalisation of RM6.79 billion.
“The rise in share price could
be related to the foreign funds but
I think the disposal of our stake in
AXA Affin GI (AXA Affin General
Insurance Bhd) could be viewed
positively for investors as we focus
more on our core businesses,” Zaka-
ria told The Edge Financial Daily
when contacted.
After a quiet week last week, the
stock market is viewing the sale of
the insurance business positively,
said MIDF Amanah Investment
TDM gets
land grant in
Terengganu
for plantation
expansion
BY SYAHIRAH SYED JAAFAR
KUALA LUMPUR: TDM Bhd, con-
trolled by the Terengganu state via
Terengganu Inc Sdn Bhd with a
61.15% stake, has accepted land
totalling 4,515ha in Kemaman and
Dungun offered by the Terengganu
state government through a grant,
which is in line with TDM’s do-
mestic plantation expansion plan.
TDM’s current land bank in
Terengganu stands at 31,848ha
and the acceptance of the land,
together with the proposed ac-
quisition of a controlling stake in
Ladang Rakyat Trengganu Sdn Bhd
which was announced on Feb 27,
2017, will increase TDM’s total land
bank in Terengganu to 47,830ha.
In July last year, the company
applied to the Terengganu gov-
ernment for land in Hutan Sim-
pan Sungai Nipah, Kemaman and
Hutan Simpan Rasau, Dungun.
“The state had approved TDM’s
application for the land as per the
terms and conditions set out in its
letters dated Dec 26 and 28, 2017
respectively,” TDM said in a filing
with Bursa Malaysia yesterday.
“The state had agreed to convert
the land from forest reserves to gov-
ernment land and that the state will
replace the affected areas with other
land as forest reserves,” it added.
TDM will pay RM250 per ha
per year to a trust fund for wild-
life conservation and conflict
management. It will also prepare
a report of environment regula-
tions to the Department of Envi-
ronment and the state.
“The effects of the grant are still
at [the] premature stage as of to date,
and TDM is currently in the process
of examining and assessing the im-
pact of the grant on its net assets,
earnings and gearing of TDM for the
financial year ending Dec 31, 2018.
“Barring any unforeseen cir-
cumstances, the grant is expect-
ed to contribute positively to the
future earnings of TDM,” it said.
TDM shares closed un-
changed at 46 sen yesterday,
bringing a market capitalisation
of RM770.91 million.
Bank Bhd analyst Alan Lim.
“Although the stake was sold last
week, fund managers are back this
week after the New Year holiday.
There is interest in the stock because
it could be a sign that the manage-
ment is focusing on its plantation and
sugar business. It is a positive devel-
opment,” he said over the phone.
On Dec 28, FGV’s indirect sub-
sidiary Felda Marketing Services
Sdn Bhd (Felma) completed the
disposal of almost its entire stake
in AXA Affin GI to Affin Bank Bhd
(12.87%) and AXA Asia (3.13%) for
RM224.38 million in all.
It had RM19.05 million shares in
the general insurer, representing a
16% stake. The disposal left Felma
with just 100 shares in AXA Affin GI.
6 HOME BUSINESS
Smoke to clear for tobacco market
UOB Kay Hian’s Khoo believes the worst is over for the industry and BAT Malaysia will see moderate recovery
BY A D EL A MEGA N WI L LY
KUALA LUMPUR: The local to-
bacco industry, hit hard by the
proliferation of illicit cigarettes
following sharp increases in re-
tail prices of their legal counter-
parts in recent years, is expected
to get a much-needed reprieve
this year, say analysts.
They are of the view that ciga-
rette sales volume, which began
to stabilise in the third quarter
of last year (3Q17), will sustain
into the new year, driven by a
stronger economy which in turn
will give consumers more dis-
posable income.
However, this outlook is bar-
ring any unpredictable shocks
such as another duty hike on
tobacco products.
“We think demand should
improve as disposable income
improves alongside economic
growth. While tobacco is argua-
bly more of a [consumer] discre-
tionary rather than a necessity,
an improved economy should
trickle down to better tobacco
consumption, provided there is
no hike in duties or prices,” UOB
Kay Hian head of research for
Malaysia Vincent Khoo told The
Edge Financial Daily via email.
He believes it is unlikely for
the government to raise excise
duties, noting that this will lead
to the overall government reve-
nue from the tobacco industry
to decline.
NEWS IN BRIEF
Kerjaya Prospek to undertake six-for-five bonus,
six-for-20 bonus warrants issues
BY SU P RI YA SU REN D RAN
KUALA LUMPUR: Kerjaya Pros-
pek Group Bhd has proposed to
undertake a bonus issue of 677.44
million new shares on the basis
of six bonus shares for every five
existing shares held in the com-
pany, on an entitlement date to
be determined later.
It is also proposing a bonus
issue of up to 169.36 million new
warrants in Kerjaya, on the basis
of six bonus warrants for every 20
existing shares held on the same
entitlement date as the proposed
bonus issue.
In a filing with Bursa Malaysia
yesterday, Kerjaya said the pro-
posals are intended to reward its
shareholders, enabling them to
have greater participation in the
company’s equity.
The proposals are also expect-
ed to improve the trading liquid-
ity and marketability of Kerjaya
shares on Bursa Malaysia, while
increasing the capital base of the
Based on the finance ministry’s
Malaysian Economy — third-quar-
ter 2017 report, indirect tax col-
lection dropped 7.3% to RM14.6
billion, from RM15.7 billion in
3Q16 due to lower excise duties
collection by 26.4%, particularly
from locally manufactured cig-
arettes.
Khoo described 2017 as “a bad
year, business-, profit- and share
price-wise”. This is specifically so
for the only public listed tobac-
co product manufacturer, Brit-
ish American Tobacco (Malaysia)
Bhd (BAT Malaysia). And
it did not help that the
stock lost its spot on
the FBM KLCI com-
ponent stocks list.
The other two
main players, Phil-
ip Morris (Malay-
sia) Sdn Bhd and
Khoo described 2017 as
‘a bad year, business-,
profit- and share price-
wise’. The Edge file
photo
The gross proceeds
to be raised from
the exercise will be
utilised as additional
working capital for
the group.
company, it added.
Upon completion of the pro-
posals, the enlarged share cap-
ital of Kerjaya on a fully diluted
basis will amount to RM911.94
million comprising 1.41 billion
shares, from RM312.22 million
comprising 564.53 million shares
as at Dec 27, 2017.
Kerjaya said the proposed
bonus shares will be issued as
fully paid, at nil consideration
and without capitalisation of the
company’s reserves.
Meanwhile, the gross proceeds
expected to be raised upon full
JT International Bhd, are private
entities and are not covered by
research analysts.
After five years of consecutive
revenue growth, BAT Malaysia
posted a 4.5% decline in revenue
to RM4.58 billion in the financial
year ended Dec 31, 2015 (FY15),
and dropped a further 18% to
RM3.76 billion in FY16.
For the first three quarters of
FY17 (9MFY17), BAT Malaysia
booked in a revenue of RM2.3 bil-
lion, down 21% from RM2.92 bil-
lion a year ago. Net profit was also
down 7.3% to RM401.49 million
in 9MFY17 from RM432.95
million in 9MFY16.
The escalating illegal
cigarette trade has al-
ways been the legal to-
bacco industry’s Achil-
les heel. Times were
made harder with the
implementation of the
goods and services tax
in April 2015, which lim-
ited consumers’ dispos-
able income, but it was
dealt a major blow follow-
ing the government’s
decision to in-
crease the ex-
cise duty on
cigarettes by
40% in No-
vember that
year.
Never-
theless,
Khoo be-
exercise of the bonus warrants
based on the indicative exercise
price of RM1.59 per bonus war-
rant are RM269.3 million.
“The gross proceeds to be
raised from the exercise will be
utilised as additional working cap-
ital for the group,” said Kerjaya.
The bonus warrants will have
a tenure of five years commenc-
ing on and including the date of
their issuance.
The proposals are expected to
be completed by the first quar-
ter of 2018.
Kerjaya has recently an-
nounced a record nine-month
performance for the period end-
ed Sept 30, 2017, delivering a net
profit of RM97.1 million on a
revenue of RM703.4 million. The
group’s net cash position stood at
RM163 million as at Sept 30, 2017.
The group’s current outstand-
ing order book amounted to
RM3.2 billion and the year-to-
date win for 2017 contracts to-
talled RM1.4 billion.
T HU R SDAY JAN UARY 4, 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY
lieves the worst is over for the
tobacco industry, although he is
quick to point out the need for
stricter enforcement by the au-
thorities.
“Based on BAT Malaysia’s
[3QFY17 report] as of August, the
illicit market accounted for 56% of
the entire tobacco market. While
this was a decline from a peak of
59% in April, this was still a whop-
ping increase of about 20 basis
points from two years ago.
“While it looks like the worst is
over in terms of illicit cigarettes’
cannibalisation of the duty-paid
market, there still needs to be
more effective enforcement to
bring the illicit trade down fur-
ther,” he added.
He is expecting BAT Malaysia
to post a growth in profit this year,
supported by a mild improvement
in sales volume, cost savings re-
sulting from the shutdown of its
Petaling Jaya manufacturing plant
in 2016 and a recovery in con-
sumption.
“We should see a moderate
recovery this year, led by a mild
improvement in volume and cost
savings from BAT Malaysia’s plant
shutdown. Further, improvements
in our country’s economy should
filter down to better consumption
trends amid stronger consuming
power,” Khoo said.
“Historically, tobacco leaf cost
is very high in Malaysia as our
farmers have been less productive
internationally.
ACE Market-bound QES Group to
offer 151.66 million shares in IPO
BY NE I LY SYA F IQA H E US O F F
KUALA LUMPUR: QES Group Bhd,
en route to list on the ACE Market
of Bursa Malaysia by the first quar-
ter of this year, has appointed M&A
Securities Sdn Bhd as underwriter
for the initial public offering (IPO).
The IPO exercise entails the
issuance of 151.66 million new
shares in QES, representing 20%
of its enlarged share capital.
It also comprises sale of 75.83
million shares by the existing
shareholders to selected bumi-
putera investors by way of private
placement.
In a statement yesterday, QES
said M&A Securities will under-
write 47.18 million new shares
made available to the Malaysian
public and its eligible directors
and employees.
The remaining 104.48 million
new shares are earmarked for pri-
vate placement to selected investors.
QES managing director and
president Chew Ne Weng said the
Also, volumes are shrinking
so the utilisation of the plant
would have been very low, and
it wouldn’t make sense for BAT
Malaysia to continue producing
locally,” he added.
TA Securities analyst Damia
Othman is of the view that BAT
Malaysia’s move to shut down its
manufacturing plant in Petaling
Jaya was a good one, cost-wise.
She said the research firm is
projecting a lower rate of reve-
nue decline for BAT Malaysia
in FY18.
“We still project a drop in
revenue by 6.9% year-on-year
in FY18 [of RM2.87 billion], al-
though this is less than what is
expected for FY17 [of RM3.08
billion], which is an estimated
decline of 18%,” Damia told The
Edge Financial Daily.
BAT Malaysia in early October
2017 introduced the RM12-per-
pack Rothmans brand which, ac-
cording to Damia, is expected to
strengthen the group’s portfolio
mix and support sales. Exclud-
ing Rothmans, BAT Malaysia
also sells premium brands such
as Dunhill, Pall Mall and Peter
Stuyvesant, which are priced
between RM15.50 and RM17
per 20-stick pack.
BAT Malaysia shares closed
eight sen or 0.21% higher at
RM38.02 yesterday, with a mar-
ket capitalisation of RM10.84
billion. The stock’s price has
fallen 16% over the past year.
listing exercise would enable QES
to strengthen its position in the
inspection, test and measurement
equipment industry as it embarks
on the next phase of its business
expansion plans.
“By being a listed entity, we
hope to further increase confidence
among our investors, stakeholders
and customers while we contin-
ue to work towards enhancing the
long-term value of our company
by providing quality products and
services across our distribution and
manufacturing divisions,” he added.
QES has grown organically in
the past 26 years since its inception.
Proceeds from the IPO will be
used mainly for capital expendi-
ture to purchase demonstration
equipment for its distribution di-
vision, tools and accessories and
new information technology equip-
ment for operational use; repay bor-
rowings; development of three key
products under its manufacturing
division; for working capital; and to
defray listing expenses for the IPO.
8 ST O C KS W I T H M O M E N T U M T HU R SDAY JAN UARY 4, 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.
www.theedgemarkets.com
Our shareholders, directors and employees may have positions in any of the stocks mentioned.

APPASIA BHD (-ve) APPASIA BHD FY14 FY15 FY16 FY2017Q3

(ALL FIGURES IN MYR MIL) 31/12/2014 31/12/2015 31/12/2016 30/9/2017
SHARES in AppAsia Bhd (fundamental: 0.95/3, viding payment card and acquiring services.
valuation: 0/3) closed one sen or 2.63% up AppAsia and ASB expect to sign the share sale Financials
at 39 sen yesterday, after 3.82 million shares agreement by Feb 28, or a period mutually Turnover 14.9 10.1 4.7 65.0
were traded, compared to its 200-day average agreed by both parties. EBITDA (9.0) (4.5) (6.0) 1.9
trading volume of 1.07 million shares. Separately, in last November it signed the Interest expense 0.1 0.0 0.0 0.0
In December, AppAsia signed a memoran- master license agreement with China Mobile Pre-tax profit (13.3) (5.1) (6.9) 1.8
dum of understanding with Advance Synergy International Ltd, under which AppAsia will Net profit - owners of company (13.2) (5.2) (6.9) 1.7
Bhd (ASB) to buy an 80% stake in the latter’s be the content provider to CMI in their digital Fixed assets - PPE 0.3 1.3 1.2 0.7
indirect wholly-owned unit, Synergy Cards content business partnership in China and Total assets 5.0 15.2 10.2 16.6
Sdn Bhd. Synergy Cards is involved in pro- overseas markets. Shareholders' fund 4.9 15.2 10.0 16.4
Gross borrowings 0.5 - - -
APPASIA BHD Valuation score* 0.00 Net debt/(cash) (2.0) (11.7) (5.2) (10.4)
Fundamental score** 0.95
TTM P/E (x) -
TTM PEG (x) - APPASIA BHD FY14 FY15 FY16 ROLLING 12-MTH

P/NAV (x) 7.98 RATIOS 31/12/2014 31/12/2015 31/12/2016

TTM Dividend yield (%) - DPS ($) - - - -
Market capitalisation (mil) 131.18 Net asset per share ($) 0.02 0.05 0.04 0.05
ROE (%) (120.71) (51.52) (54.33) (16.22)
Shares outstanding (ex-treasury) mil 345.20
Turnover growth (%) 10.50 (32.52) (53.75) 1,305.38
Beta 0.62 Net profit growth (%) - - - -
12-month price range 0.32-0.43 Net margin (%) (88.44) (51.41) (147.07) (2.69)
*Valuation score - Composite measure of historical return & valuation ROA (%) (117.03) (51.21) (53.93) (16.06)
**Fundamental score - Composite measure of balance sheet strength Current ratio (x) 3.36 7.08 4.15 1.27
& profitability Gearing (%) - - - -
Note: A score of 3.0 is the best to have and 0.0 is the worst to have
Interest cover (x) (126.32) (113.48) (643.86) (105.75)

FACB INDUSTRIES INC BHD (-ve) FACB INDUSTRIES INC BHD FY15 FY16 FY17 FY2018Q1
(ALL FIGURES IN MYR MIL) 30/6/2015 30/6/2016 30/6/2017 30/9/2017
SHARES in FACB Industries Inc Bhd (funda- lower earnings were due to higher marketing
mental: 1.5/3, valuation: 2/3) triggered our and distribution costs, as well as lower profit Financials
momentum algorithm yesterday for the first from its Chinese associates. Turnover 56.1 51.9 55.8 8.8
time in almost two years. The group expects its performance for the EBITDA (1.0) (0.8) 4.6 0.1
The counter inched up one sen or 0.66% to financial year ending June 30, 2018 to be chal- Interest expense - - - -
RM1.52 after 378,600 shares were traded, com- lenging, due to weak domestic consumer sen- Pre-tax profit 8.4 8.5 13.4 2.1
pared to its 200-day average trading volume timent and higher raw material costs. Net profit - owners of company 4.7 4.6 8.5 1.0
of 83,301 shares. In the first financial quarter FACB principally makes and sells bedding Fixed assets - PPE 5.9 5.6 5.3 5.2
ended Sept 30, 2017, the group’s net profit fell products under its flagship brand Dreamland. Total assets 224.6 223.8 232.1 233.8
28.5% to RM994,000 from RM1.39 million a Its acting chief executive officer Teo Hock Kee Shareholders' fund 205.8 207.3 213.4 214.7
year ago, despite an 8.5% rise in revenue to resigned on Dec 31 due to personal commit- Gross borrowings - - - -
RM8.79 million from RM8.10 million. The ments. Net debt/(cash) (150.6) (156.4) (160.5) (163.0)

FACB INDUSTRIES INC BHD Valuation score* 2.00

Fundamental score** 1.50 FACB INDUSTRIES INC BHD FY15 FY16 FY17 ROLLING 12-MTH
TTM P/E (x) 15.60 RATIOS 30/6/2015 30/6/2016 30/6/2017
TTM PEG (x) 0.14 DPS ($) 0.03 0.03 - 0.03
P/NAV (x) 0.59 Net asset per share ($) 2.45 2.47 2.54 2.56
TTM Dividend yield (%) 1.66 ROE (%) 2.27 2.25 4.05 3.87
Market capitalisation (mil) 126.66 Turnover growth (%) (7.86) (7.54) 7.58 11.94
Net profit growth (%) (92.93) (2.25) 83.43 109.17
Shares outstanding (ex-treasury) mil 83.88
Net margin (%) 8.47 8.95 15.26 15.33
Beta 0.58 ROA (%) 2.09 2.07 3.73 3.57
12-month price range 1.06-1.51 Current ratio (x) 16.87 16.33 24.72 23.46
*Valuation score - Composite measure of historical return & valuation Gearing (%) - - - -
**Fundamental score - Composite measure of balance sheet strength Interest cover (x) - - - -
& profitability
Note: A score of 3.0 is the best to have and 0.0 is the worst to have

MALAYSIAN RESOURCES CORP BHD (-ve) MALAYSIAN RESOURCES CORP BHD FY14 FY15 FY16 FY2017Q3
RATIOS 31/12/2014 31/12/2015 31/12/2016 30/9/2017
SHARES in Malaysian Resources Corp Bhd wholly-owned subsidiary, 59INC Sdn Bhd,
(MRCB) (fundamental: 0.8/3, valuation: which owns three pieces of land in Setapak Financials
(ALL FIGURES IN MYR MIL)
1.4/3) triggered our momentum algorithm measuring 111,195 sq m, for a mixed devel- Turnover 1,514.8 1,696.7 2,408.1 1,134.1
yesterday for the first time since Novem- opment, for RM100.14 million cash. EBITDA 329.0 463.7 616.2 85.2
ber 2015. MRCB and the pilgrim fund’s whol- Interest expense 171.2 184.8 175.9 41.4
The counter closed nine sen or 7.76% ly-owned TH Properties Sdn Bhd have inked Pre-tax profit 220.6 370.1 392.6 52.3
higher at RM1.25 after some 82.5 million agreements to form a joint venture for the Net profit - owners of company 152.6 330.4 267.4 28.1
shares were traded, versus its 200-day aver- development to be undertaken by 59INC. Fixed assets - PPE 1,465.9 1,547.5 1,614.2 1,693.4
age trading volume of 10.17 million shares. The proposed mixed development will com- Total assets 4,471.4 4,793.3 5,317.0 6,132.5
On Dec 26, MRCB said Lembaga Tabung prise apartment blocks, a shopping centre, Shareholders' fund 1,985.3 2,260.1 2,925.8 2,991.5
Haji will be purchasing a 70% stake in its car parks, shop offices and other facilities. Gross borrowings 3,683.7 3,387.4 2,937.1 4,179.9
Net debt/(cash) 3,019.7 2,863.5 2,212.7 3,398.6
MALAYSIAN RESOURCES CORP BHD Valuation score* 1.40
Fundamental score** 0.80
TTM P/E (x) 20.35 MALAYSIAN RESOURCES CORP BHD FY14 FY15 FY16 ROLLING 12-MTH
TTM PEG (x) 0.15 RATIOS 31/12/2014 31/12/2015 31/12/2016
P/NAV (x) 1.70 RATIOS
DPS ($) 0.03 0.03 0.03 0.03
TTM Dividend yield (%) 1.18 Net asset per share ($) 1.13 1.27 1.36 0.68
Market capitalisation (mil) 5,088.63 ROE (%) 8.34 15.56 10.31 9.31
Turnover growth (%) 60.99 12.01 41.92 95.35
Shares outstanding (ex-treasury) mil 4,386.75
Net profit growth (%) - 116.46 (19.08) 135.70
Beta 1.09 Net margin (%) 10.08 19.47 11.10 7.25
12-month price range 0.88-1.52 ROA (%) 4.21 7.13 5.29 4.50
*Valuation score - Composite measure of historical return & valuation Current ratio (x) 1.27 1.17 1.33 1.48
**Fundamental score - Composite measure of balance sheet strength Gearing (%) 152.11 126.69 75.63 113.61
& profitability Interest cover (x) 1.92 2.51 3.50 3.11
Note: A score of 3.0 is the best to have and 0.0 is the worst to have
1 0 P R O P E RT Y
Land is underrated as a
source of wealth
In the long term, housing does about as well as stocks
BY N OAH SMI TH
NEW YORK: When most think of
wealth in the modern economy,
they tend to think of stocks and
bonds. The word “capital” is often
synonymous with corporate own-
ership. Land wealth, meanwhile, is
often relegated to a footnote. People
own houses, but vast fortunes are
made in the stock market, while
the fates of nations rise and fall
with the bond market.
In the US, the bursting of the
housing bubble has given some
the idea that land appreciates more
slowly than other assets. If one
looks only at capital gains, stocks
have outperformed housing by a
wide margin in recent decades.
But ignoring land is a mistake.
Despite the explosive growth of
corporations since the Industrial
Revolution, land still represents a
huge per cent of all the wealth in
the economy.
What’s more, focusing only on
capital gains neglects the extremely
important fact that land earns in-
come from rent. If you live in your
own house, this income is implicit
— living in your own home means
you don’t have to pay rent to some-
one else. But if you’re a landlord,
you get cheques every month, just
like stockholders receive quarterly
dividends. And in the same way that
a stockholder can use dividends to
buy more shares, a landlord can use
rental income to buy more property.
Thus, rent needs to be counted in
the return to housing.
And that total return is higher
than people realise. According to
new research, the return on resi-
dential real estate has been as high
as or higher than the return on eq-
uity. As modern economies have
grown and developed, owners of
the ground on which we live have
been steadily enriched.
In their new paper, titled The
Rate of Return on Everything, 1870-
2015, economists Oscar Jorda,
Katharina Knoll, Dmitry Kuvshi-
nov, Moritz Schularick and Alan
Taylor compare stocks, bonds and
housing over the past century and
a half. Housing is by far the hardest
asset to measure. Knoll and Schu-
larick, together with Thomas Steger,
have worked heroically to overcome
these data deficiencies and create
a long-term database of housing
prices in advanced economies.
T HU R SDAY JAN UARY 4, 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY
Here is a sampling of their re-
sults (see chart).
The UK is one of the few coun-
tries Jorda et al survey where stocks
have significantly outperformed
housing over the long run. In most
countries, the returns are compa-
rable, and in some places such as
France and Japan, housing has done
much better. It’s much less volatile
than stocks, too. Now, there are ca-
veats to this result. Data from the
19th century is notoriously patchy
and unreliable — Knoll and Schu-
larick have done the best they can
to abstract across differences in lo-
cation, quality and data gaps, but
there are always assumptions in-
volved. Furthermore, it’s inherently
difficult to compare the return on
a real asset such as housing to that
of a paper asset like stocks, where
price changes are easy to document.
Housing also involves maintenance
costs, physical depreciation, vacan-
cy costs, the cost of searching for
tenants and capital losses to things
like fire, flood and war. Also, it’s im-
portant to remember that returns
change over time. Stock markets
have gotten more developed in rich
countries in the past few decades,
making it easier for small investors
to put their money into equities.
Over the long term, housing
has been a great investment. That
doesn’t mean that investors should
ditch their stocks and run out to
buy houses. But it does mean that
a wise investor should diversify
into land by buying things like real
estate investment trusts.
The more important implica-
tion, however, is for inequality. To
some degree, housing acts as an
equaliser between the rich and the
middle class, since the latter puts
more of its wealth into real estate
by virtue of buying homes. So in
order to address wealth inequality,
it’s important to focus on land. Even
after the rise of the modern corpo-
rate economy, unequal ownership
of the most basic and ancient asset
of them all is still creating big divi-
sions in our society. — Bloomberg
THU R S DAY JA N UA RY 4 , 20 1 8 • T HE ED G E FINA NCIA L DA ILY
Time for a correction this week
BY B EN N Y L EE
T
he FBM KLCI ended
with a two-and-a-half-
year high last Friday
with a 9.4% increase
year-on-year. Decem-
ber was a strong bull-
ish month as the market was win-
dow-dressed until the last minute last
Friday. The performance in Decem-
ber alone overcame the decline in the
second half of 2017. The FBM KLCI
increased 2.1% in a week to 1,796.81
points, after a 14-point jump in the
last second of trading last Friday.
The FBM KLCI closed at 1,792.79
points yesterday.
Trading volume was higher last
week but the trading value dropped.
The average daily trading volume
increased to 2.6 billion shares from
2.5 billion shares two weeks ago.
The average daily trading value
fell to RM2.2 billion from RM2.5
billion two weeks ago, an indica-
tion of lower participation from
institutions.
Foreign institutions were net
buyers last week, presumably on a
stronger ringgit. Net buying from
foreign institutions was RM165 mil-
lion, while net selling from local
institutions and local retailers was
RM23 million and RM142 million
respectively.
Last week, gainers beat declin-
ers 13 to two on the FBM KLCI. Top
gainers for the week were KLCC
Properties & REITS — Stapled Se-
curities Bhd (+10.2% to RM8.64),
MRCB’s infrastructure outlook increasingly rail-focused
Malaysian Resources Corp Bhd
(Jan 3, RM1.25)
Maintain add with a higher tar-
get price (TP) of RM1.31: With
2018 being an “election year”,
along with a massive pipeline
of infrastructure projects (driv-
en by rail), we are turning more
upbeat on Malaysian Resources
Corp Bhd (MRCB).
The group’s infrastructure out-
look is shaping up to be more
rail-focused (Kuala Lumpur-Sin-
gapore high-speed rail’s [HSR]
and East Coast Rail Link [ECRL]),
especially for the Gamuda Bhd-
MRCB joint venture, which will
be gunning for the project de-
livery partner (PDP) scope of
the HSR project. Supported by
Gamuda’s rail credentials, MRCB
could land its second, but much
larger-scaled, PDP contract af-
ter the light rail transit Line 3’s
RM9 billion.
To l l c o l l e c t i o n f o r t h e
100%-owned Eastern Dispersal
Link (EDL) was abolished on Jan
1, 2018. This is part of the govern-
ment’s initiative under Budget 2018,
whereby toll collections for three
highways, namely Batu Tiga, Shah
Alam and Sungai Rasau in Selangor,
Bukit Kayu Hitam in Kedah, and
Daily FBM KLCI chart as at December 29, 2017.
Press Metal Bhd (+7.4% to RM5.39)
and DiGi.com Bhd (+6.3% in a
week to RM5.10). Top decliners
were Telekom Malaysia Bhd (-3.1%
to RM6.30), Westports Holdings
Bhd (-1.1% to RM3.70) and Hap
Seng Consolidated Bhd (-0.5% to
RM9.55).
Global markets were mixed last
week. In Asia, Hong Kong rose to
near historical highs but Japan’s
Nikkei declined. The US Dow Jones
Industrial Average fell along with
most European markets. However,
London’s FTSE continued to climb
to historical highs.
the EDL, will be discontinued. The
expected annual toll compensation
is RM70 million as reported by the
press, which quoted the second fi-
nance minister.
The Edge Markets reported re-
cently that MRCB has been invited
by the works ministry to commence
negotiations on terms of the “mu-
tual termination agreement” for
the EDL’s concession.
We view this development posi-
tively as it would bring MRCB clos-
er to concluding the delayed EDL
deal, carve RM1.1 billion of the
EDL sukuk (25% of total debt) off
its balance sheet, and remove a
big overhang on the share price.
With an EDL sale, its end-Septem-
ber 2017 net gearing of 1.1 times
would drop to 0.75 times (by our
estimates).
We believe MRCB’s construction
prospects would be enhanced by
potential new rail tenders. MRCB
and Gamuda Bhd will be collective-
ly bidding for the PDP role of the
HSR infrastructure construction
on the Malaysian side. Based on
our calculation and an assumed
6% PDP fee, financial year ending
Dec 31, 2019 (FY19) to FY20 earn-
ings per share could nearly double
with the HSR PDP scope.
The US dollar weakened. The
US Dollar Index fell to 92.3 points
last Friday from 93.3 points a week
before. The ringgit strengthened
against the US dollar and closed
at RM4.04 against the greenback
last Friday from RM4.08 the week
before.
Prices of major commodities
continued to increase. Crude oil
(Brent) increased 2.4% in a week
to US$66.62 (RM267.81) per bar-
rel. The Commodity Exchange gold
price climbed to a three-month
high last week and closed 2% high-
er at US$1,305.10 an ounce. Crude
Malaysian Resources Corp Bhd
FYE DEC (RM MIL)
Revenue
Operating Ebitda
Net profit
Core EPS (RM)
Core EPS growth (%)
FD Core PER (x)
DPS (RM)
Dividend yield (%)
EV/Ebitda (x)
P/FCFE (x)
Net gearing (%)
P/BV (x)
ROE (%)
CIMB/consensus EPS (x)
Sources: Company data, CIMB forecasts
We believe the worst is over for
its share price, having fallen 3.5%
in 2017. The stock trades at a 20%
discount to its fully diluted revised
net asset value (RNAV) of RM1.45.
This is unjustified, in our view,
given the renewed infrastructure/
order replenishment outlook and
revival of the EDL divestment an-
gle, which is long overdue.
We think the group’s RM2.9 bil-
lion total value of jobs in tender has
B R O K E R S’ C A L L / T E C H N I C A L S 11
Furthermore, the Bollinger Bands
are expanding; the index is trad-
ing at the top band. The Average
Directional Index indicator is also
rising, indicating good bullish mo-
mentum. However, these oscillators
are also indicating that the index
is getting overbought.
There is a clear indication that
the FBM KLCI is in a bullish trend.
However, we expect a correction for
the FBM KLCI after a one-month
rally. Furthermore, the last-min-
ute increase last Friday was too
superficial and the futures mar-
ket was not convinced. The FBM
KLCI futures closed at a 11-point
discount against the index last Fri-
day at 1,785 points.
We expect a rough start this year
but the bullish trend should con-
tinue. The FBM KLCI is at a 2.5-
year high and technically the chart
should indicate a strong bullish
trend and therefore the index is
expected to climb higher. Howev-
er, we expect some correction for
the one-month rally and the index
palm oil futures rebounded and could pull back to the support lev-
increased 1.6% in a week to close el between 1,760 and 1,770 points.
at RM2,498 per tonne last Friday. The index may continue its bullish
The FBM KLCI is strongly bull- trend to record highs this year if it
ish above the short- and long-term can stay above the support level.
30- and 200-day moving averages.
The index has also climbed strongly
above the Ichimoku Cloud indica- The above commentary is solely
tor. In fact, all trend indicators on used for educational purposes and
the chart are showing strong bull- is the writer’s point of view using
ish trends. technical analysis. The commen-
Momentum indicators like the tary should not be construed as an
Relative Strength Index, moving investment advice or any form of
average convergence divergence recommendation. Should you need
and momentum oscillator also in- investment advice, please consult a
dicate strong bullish momentum. licensed investment adviser.
2015A 2016A 2017F 2018F DEC-19F
1,697 2,408 2,432 2,554 2,681
159.9 313.3 259.8 316.2 333.6
330.4 267.4 100.1 131.3 142.1
0.033 0.062 0.023 0.030 0.033
73.7 84.1 (62.6) 31.2 8.2
34.72 18.85 52.91 42.27 39.05
0.013 0.015 0.015 0.015 0.015
1.08 1.29 1.29 1.29 1.29
48.24 22.55 20.61 17.56 16.34
5.74 N/A N/A 9.87 19.18
155 73 11 16 13
2.81 1.72 1.11 1.18 1.17
8.6 11.3 2.7 3.0 3.3
0.92 0.97 0.65
A filepic of MRCB corporate office in
Jalan Tun Sambanthan, Kuala Lumpur
more upside in 2018. Our assumed Sentral, Kuala Lumpur.
RM800 million job wins per annum
could be exceeded if it achieves
higher-than-expected success rates
for its rail tenders. land banks (at an unchanged 10%
We believe the rail contract news RNAV discount). We expect more
flow in the first half of 2018 could details of the HSR PDP tenders in
revive sentiment on the stock. We the next two to three months. Po-
retain “add”, in view of the likely tential PDP awards are likely by
positive construction news flow in mid-2018. A key downside risk is
the months ahead. Our TP is raised weak job wins. — CIMB Research,
as we revise the value of selected Jan 2
12 B R O K E R S’ C A L L
A better 2018 for power utilities
Power utilities sector
Maintain overweight. Big cap Tena-
ga Nasional Bhd (TNB) (outperform;
target price [TP]: RM17.17) finally
had a better performance in 2017
with share price rising 12.45% while
the Independent Power Producers
(IPPs) performed poorly for another
year as YTL Power International Bhd
(market perform; TP: RM1.30) and
Malakoff Corp Bhd (outperform;
TP: RM1.25) saw their share pric-
es contracting 9.16% and 28.96%
respectively in 2017.
With the general election (GE14)
around the corner and a new base
tariff for the second regulatory pe-
riod from January 2018 remaining
unchanged at 38.53 sen/kWh. This
is no surprise as the fuel costs will
be adjusted by way of surcharge
in the case of higher cost or rebate
should actual fuel costs go lower
than preference price.
Having said that, it remains
earnings neutral to TNB, which also
means that the integrated utility
should warrant a higher price-earn-
ings-ratio valuation as fuel risk is
pass-through. Meanwhile, as the
cut in capacity payments for Gen1
IPPs has already been reflected in
the latest earnings, we believe the
selling pressure on YTL Power and
Malakoff should have abated. Thus,
a better year for the sector in 2018.
We expect TNB’s earnings to
grow further on the back of 2.1%
electricity demand growth in 2018,
to be led by domestic and commer-
cial segments, while YTL Power
New and matured hospitals
seen as KPJ’s growth drivers
KPJ Healthcare Bhd
(Jan 3, 98 sen)
Maintain buy with an unchanged
target price of RM1.06: KPJ Health-
care Bhd disclosed in our recent
meeting with the management that
it is in an advance stage of disposing
Jeta Garden, its care centre for the
aged in Australia.
It is currently in the midst of re-
aligning its operations to focus on
delivering medical services. Jeta
Garden will be sold at net tangible
asset value and the proceeds will
be recognised as a gain on disposal.
We understand that the disposal
will only be completed by the first
half of financial year ending Dec 30,
2018 (FY18) following an extraordi-
nary general meeting in February
2018. Therefore, Jeta Garden will
still be consolidated in FY17.
We also understand that KPJ Per-
lis which is slated to be completed
in December 2017 is now waiting for
the clearance from the ministry of
health. It will be ready for operation
sometime in January 2018.
As for the rest of its expansion
plan, the hospitals that are expected
to be opened after KPJ Perlis from
FY18 to FY19 would be KPJ Bandar
Dato’ Onn in Johor, KPJ Kuching, KPJ
Miri and expansion of KPJ Sabah.
Power utilities sector peer comparison
PRICE @
15-DEC-
2017 MKT CAP
NAME (RM) (RM MIL)
Malakof 0.93 4,624.4
Pestech 1.65 1,261.1
Tenaga 15.42 87,369.5
YTL POWR 1.29 10,226.0
Source: Kenanga Research
should see a rebound in earnings
as the Paka Power Plant recom-
menced in September last year
after it resolved the dispute with
TNB pertaining to a land issue.
Meanwhile, Malakoff ’s earn-
ings are likely to be flattish given
that upside is capped by a cut in
Segari Energy Venture Sdn Bhd
(SEV)’s capacity payment follow-
ing the power purchase agreement
(PPA) extension contract. Moving
forward, operational efficiency is
the key to determine TNB’s bottom
line as fuel cost risk is eliminated by
the Imbalance Cost Pass Through
(ICPT) mechanism.
TNB has indicated its keen inter-
est in offshore expansion to drive
earnings growth, although it does
not expect to provide material im-
pact anytime in the near future.
On the other hand, YTL Power’s
dividend payout could be lower as
it needs to conserve cash for two
greenfield projects, namely PT Tan-
jung Jati coal-fired power plant in
Indonesia and Attarat Power’s oil
shale-fired power plant in Jordan
KPJ is also planning to expand
its footprint in Indonesia in the me-
dium to long term. Management
believes that there is still value in
Indonesia which is home to 255 mil-
lion people as its gross margins in
Indonesia remain high at 45% when
compared against gross margins in
Malaysia which tend to be to the
tune of about 38% to 40%.
KPJ is also interested in Indo-
nesia due to its lower labour costs
and plenty of underserved areas.
Also, by targeting to operate in cities
outside of Jakarta which are under-
served, it will also avoid competing
head-on with Indonesia’s private
healthcare service providers such
as Mitra Keluarga Karyasehat and
Siloam Hospitals in terms of getting
medical doctors to have practices in
the hospital.
We understand from manage-
ment that there will be no new in-
jection of greenfield hospitals into
Al-Aqar REIT until FY19 as the com-
pany is trying to exhaust its reinvest-
ment allowance tax on newly built
greenfield hospitals.
However, there is a likelihood that
KPJ will inject the expansions on
matured existing hospitals that have
been completed instead from FY18.
We are making no changes to
NDIV. HISTORICAL
PER (X) YLD. ROE P/BV
CY16 CY17 CY18 (%) (%) (X)
13.0 15.4 15.3 4.5 5.7 0.8
16.9 15.3 14.6 2.0 25.5 3.1
13.3 14.1 13.0 3.1 12.6 1.5
13.4 13.3 11.4 3.9 5.1 0.8
over the next three to four years.
Meanwhile, Malakoff is still ac-
tively looking for offshore merg-
ers and acquisitions (M&A) and
greenfield opportunity to sustain
earnings growth given the cut in
SEV’s capacity payments.
Elsewhere, Pestech International
Bhd (outperfrom; TP: RM2) should
see earnings growth on the back of
its RM1.5 billion order book cou-
pled with new contract flows to
keep earnings momentum.
The government had agreed
to subsidise RM929.4 million or
1.8 sen/kWh for first half of 2018
(1H18). This also means that there
is no change in the new base tariff
at 38.53 sen/kWh which started
from Monday. This is against our
expectation of a higher base tariff,
given the rising fuel costs where the
government already subsidised a
total of 2.54 sen/kWh in 2H17.
We believe the maintaining of
the new base tariff could be due to
the upcoming GE14, which is due
any time before August.
However, while the balance of
our forecasts at this juncture as we
opine that KPJ is on track to meet
our earnings projections.
We are positive on the fact that
KPJ has decided to exit Jeta Garden
as we opine that the business has
remained loss-making since it was
acquired in 2010, and is showing
no sign of turning around anytime
soon.
This is despite the continuous
effort by the management to turn
around the operation, including
adding more capacity to the facili-
ty in 2015. Furthermore, we believe
that the management will be able to
use the proceeds from the disposal
to pare down debts (circa 0.71 times)
and reinvest in expanding existing
hospitals which will benefit KPJ in
the future.
Going forward, we opine that
growth will continue to be driven
by higher contribution from newly
opened hospitals, as well as im-
provements in contribution from
its more matured hospitals.
We also view that the improving
ringgit against the US dollar will
bode well for KPJ as it will reduce
the volatility and the cost of medical
consumables which in turn will re-
sult in higher profitability. — MIDF
Research, Jan 3
T HU R SDAY JAN UARY 4, 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY
NET PROFIT (RM MIL)
CY16 CY17 CY18
355.46 299.73 301.66
74.55 82.65 86.41
6,553.63 6,197.82 6,730.07
765.20 766.55 894.54
PPA savings fund of about RM40
million as of end-December is high-
ly unlikely to be sufficient to net
off the rising fuel costs; question
remains on whether the govern-
ment will allow TNB to raise tariff
rates in the future.
Nonetheless, under the ICPT
framework principle, fuel cost risk is
passed through to end-consumers;
thus, with neutral impact on TNB’s
earnings. In our view, we believe
TNB will be allowed to continue
passing through fuel cost risk to
end-consumers in the future. As
such, consumers are likely to pay
for the surcharge should ICPT un-
der-recovery situation persist in the
future especially after GE14.
Despite relatively defensive
earnings, the power utility sector
is trading at undemanding valu-
ations. This is fairly unwarrant-
ed, especially for TNB given its in-
dex-linked heavyweight status and
earnings quality profile where the
ICPT mechanism frees it from fuel
cost movement risk.
Meanwhile, selling pressure on
Yinson Holdings’ three FPSOs
progressing well
Yinson Holdings Bhd
(Jan 3, RM4.04)
Maintain buy with an unchanged
target price (TP) of RM4.45: De-
velopments on Yinson Holding
Bhd’s three floating production
storage and offloadings (FPSOs)
(Lam Son, Four Rainbow and JAK)
are progressing well with minor
hiccups.
Our estimates are unchanged.
Yinson remains our preferred Ma-
laysia oil and gas play — steady
financials, lean/focused manage-
ment team with strong growth pros-
pects and undemanding valuations.
Our TP is sum-of-parts-based.
Yinson has finalised the set-
tlement and amendment agree-
ment with PetroVietnam Technical
Services Corp (PTSC) regarding
the termination notice for FPSO
Lam Son. Yinson will receive a ter-
mination fee of US$213.6 million
(RM871 million) by Jan 26, 2018.
However, we understand that
the net compensation (less out-
standing loan fees) is about US$31
million. This is 1/3 below our initial
estimate of US$47 million.
That said, the shortfall (that is
6 sen to net present value [NPV])
should be covered by the finali-
sation of the new letter of award
(LoA) for FPSO Lam Son (currently
on letter of intent [LoI]), due an-
ytime soon.
CY17 NP CY18 NP TARGET
GROWTH GROWTH PRICE
(%) (%) (RM) RATING
-15.7 0.6 1.25 Outperform
10.9 4.6 2.00 Outperform
-5.4 8.6 17.17 Outperform
0.2 16.7 1.30 Market Perform
Malakoff has somewhat abated and
it is now trading at 41% discount to
its sum-of-parts (SOP) valuations
which appear to be attractive, in
our view. We believe Malakoff could
be a dark horse as in the stretched
valuation in which we remove the
problematic SEV, T4 power plant
and all associate valuations, its SOP
of RM1.08 per share is still higher
than current price.
Besides, any M&A opportunity
should boost sentiment. On the
other hand, we are neutral on YTL
Power as it is expected to distrib-
ute lower dividend payout at least
in the next three to four years as
it needs to conserve cash for two
greenfield projects namely PT Tan-
jung Jati coal-fired power plant in
Indonesia and Attarat Power’s oil
shale-fired power plant in Jordan.
Elsewhere, we continue to like
alternative play Pestech for its earn-
ings growth story as well expected
maiden recurring income from the
consensus asset Diamond Power
starting this month. — Kenanga
Research, Jan 3
The FPSO has been on an im-
mediate redeployment since July 1,
2017. We estimate the LoA would
add between 4 sen and 10 sen (on
three-year firm) and from 6 sen to
13 sen (three-year extension) re-
spectively, based on daily charter
rates of US$50,000 to US$100,000
(previous charter US$200,000). We
exclude the earnings impact of the
new LoA in our model for now.
Yinson has acquired the re-
maining 49% of FPSO Four Rain-
bow from Four Vanguard Servicos
E Navegacao for US$9 million. We
see this as a strong sign of deploy-
ing this asset for JX Nippon oil and
gas’s Layang project.
Recall that TH Heavy Engineer-
ing Bhd has agreed to novate this
job to Yinson. Both parties are in
advanced talks with further details
due soon.
There is a one- to three-month
delay to Yinson’s sale of the 26%
stake in FPSO JAK to Sumitomo
Corp, K-Line and Development
Bank of Japan for US$117 million.
We now expect the deal to be
concluded by first quarter ending
April 30, 2019. Layang job aside,
there are two to three firm ten-
ders that Yinson is prospecting.
Winning any of these could lead
to further potential upside to earn-
ings and NPV. — Maybank IB Re-
search, Jan 3
THU R S DAY JA N UA RY 4 , 20 1 8 • T HE ED G E FINA NCIA L DA ILY
Ex-businessman
charged with
cheating in sale
of luxury cars
KUALA LUMPUR: An older brother
of a businessman known as “Datuk
Kabi” pleaded not guilty in three
Sessions Courts here yesterday to
four counts of cheating in connec-
tion with the sale of luxury cars and
settlement of a car loan.
In the court before Judge Has-
bullah Adam, Datuk C Anand
Raja, 44, was charged with two
counts of cheating.
He was alleged to have cheat-
ed Khoo Jia Rui, 20, by deceiv-
ing him into selling a Merce-
dez-Benz E300 Bluetec Hybrid
car for RM232,000 and also Kelvin
Tan Voon Toong, 42, in the sale
of an Audi A5 car for RM160,000.
Former businessman Anand
Raja is currently serving a three-
year jail sentence for cheating at
the Sungai Buloh Prison.
In the court before Judge Datuk
Habibah Mohamed Yusof, Anand
Raja was charged with cheating
Mohd Yusof Abdul Manan, 60, by de-
ceiving him into believing he could
help settle Mohd Yusof’s car loan.
This led Mohd Yusof to put
RM7,630 into a Public Bank ac-
count belonging to A Premalatha.
In the court before Judge Syed
Faisal Syed Amir, Anand Raja plead-
ed not guilty to a charge of cheat-
ing Mohd Yusof by deceiving the
latter into selling a Honda Accord
2.0 VTI-L (A) car for RM104,000.
Anand Raja was alleged to
have committed all the offenc-
es in Laman Damai Sari, off Mont
Kiara here, between Aug 9, 2016
and May 31 last year.
The charges were made under
Section 420 of the Penal Code,
which provides for imprison-
ment of up to 10 years, and with
whipping, and a fine.
Deputy public prosecutor No-
razlin Mohamad Yusoff, who pros-
ecuted, offered bail at RM46,000
in one surety for the charges, but
lawyer Thiru Kumar, represent-
ing Anand Raja, requested for the
amount to be reduced as his client,
the sole family breadwinner, was
facing financial problems.
The court set bail at RM46,000 in
one surety for all charges and fixed
Feb 5 for mention. — Bernama
Decision to quash Zakir ban bid on Feb 13
KUALA LUMPUR: The Kuala Lum-
pur High Court has fixed Feb 13 for
clarification and decision on the
application by Deputy Prime Min-
ister Datuk Seri Dr Ahmad Zahid
Hamidi and four others to strike
out an originating summons filed
by Hindu Rights Action Force (Hin-
draf) chairman P Waytha Moorthy
and 18 others.
The originating summons sought
a court declaration that internation-
al Islamic preacher Dr Zakir Naik
is a threat to national security and
not be allowed to be in Malaysia.
Judge Datin Azizah Nawawi fixed
the date in chambers after hearing
submissions from lawyers R Ken-
gadharan and S Karthigesan rep-
EC objects to voters’
bid for judicial review
Their appeal must first be settled at the local inquiry — counsel
KUALA LUMPUR: The Election
Commission (EC) has filed a pre-
liminary objection against the ap-
plication by 48 registered voters in
the Segamat parliamentary constit-
uency to obtain a judicial review of
the suspension of 949 names from
the 2017 third-quarter Supplemen-
tary Electoral Roll (RDPT) for the
area by the EC.
Senior federal counsel Suzana
Atan said the objection was made
on the grounds that all 48 appli-
cants had to settle their appeal on
the matter through the local inquiry
before submitting an application
in court.
She said the application for the
judicial review was premature be-
cause the appeal process through
PM monitoring flood situation in six states
KUALA LUMPUR: Prime Minister
Datuk Seri Najib Razak said yester-
day he is monitoring the situation
in the flood-hit states and ensuring
adequate aid is given to victims.
Najib reminded all the affected
resenting Waytha Moorthy and the
18 others as the plaintiffs.
Also submitting in the proceed-
ings were Senior Federal Counsel
Suzana Atan and Shamsul Bolhas-
san, representing Ahmad Zahid,
also the home minister, the Ma-
laysian Immigration Department
director-general, the National Reg-
istration Department director-gen-
eral, inspector-general of police
and the government of Malaysia,
all named as the defendants.
Lawyer Adnan Seman appeared
for Pribumi Perkara Malaysia (Per-
kasa) president Datuk Ibrahim Ali,
an intervenor in the case.
Kengadharan, when met by re-
porters, said he had submitted that
the local inquiry was still ongoing.
She said the court had set Jan 8
for a decision on the preliminary
objection by the EC against the
application, filed by Abdul Wahab
Hassan and 47 registered voters of
the Segamat parliamentary con-
stituency.
She was speaking to report-
ers after yesterday’s proceedings
in chambers before Judge Datin
Azizah Nawawi. Also present was
lawyer Gobind Singh Deo repre-
senting all the applicants.
Gobind, when met by reporters,
said there was a legal provision en-
abling the applicants to make an
application in court, although the
local inquiry was still under way.
The applicants filed for the ju-
people to give priority to their own
safety, adhere to the authorities’
advice and be steadfast.
The government would ensure
adequate aid is given to all the
affected people, he said in a post
all the plaintiffs had locus standi to
resort to the action as it concerned
public interest. “Dr Zakir must leave
the country because he is a threat
to national security,” he said.
Shamsul said he submitted that
the plaintiffs’ action was an abuse of
the judicial process as they should
have filed an application for a judi-
cial review and not an originating
summons.
“The plaintiffs have no locus stan-
di to file the originating summons on
the grounds that they failed to prove
how they are affected by the defend-
ants’ decisions,” he said.
Adnan, meanwhile, said he had
submitted that the decision by the
home minister or immigration di-
dicial review on Dec 14, 2017 via
Messrs JM Lee & Co, and named
the EC and the Johor registrar for
the EC, Shafie Taib, as the first and
second respondents.
They were applying for a cer-
tiorari order to revoke the entry
and retain the 949 names in the
supplementary roll.
They also applied for a declara-
tion that the entry of the 949 names
into the voters’ roll was unconsti-
tutional because they did not meet
the requirements of Article 119 of
the Federal Constitution.
They claimed that the entry of
the names of Persons Denied in
the electoral roll was unreason-
able, irrational and unbalanced.
— Bernama
Food vendor Sulaini
Abdullah, 54 (left),
and his niece Siti
Nur Maisarah Razak,
16, braving rising
flood waters to
continue trading at
their stall in Taman
Sungai Isap Damai in
Kuantan yesterday.
Photo by Bernama
on his Twitter account.
The floods have struck Pahang,
Johor, Terengganu, Kelantan, Sa-
bah and Sarawak, with many people
evacuated to relief centres and sever-
al schools have closed. — Bernama
rector-general to grant permanent
resident status to Zakir cannot be
challenged in court.
In the originating summons filed
on March 1 last year, Waytha Moorthy
and the 18 others comprising politi-
cians, lawyers and non-governmental
organisations, had wanted the court
to declare the world famous preacher
posed a threat to racial and religious
harmony in the country and should
be arrested forthright.
They also claimed Zakir had
encouraged terrorism, had been
banned from entering several coun-
tries over suspected involvement
with certain terrorist groups and had
instigated foreigners in the country
to disturb the peace. — Bernama
H O M E 13
IN BRIEF
Murder case in tahfiz
school fire transferred
to High Court
KUALA LUMPUR: The Mag-
istrate’s Court here has trans-
ferred to the High Court the
case of two 16-year-old boys
charged with the murder of 21
students and two teachers of
Pusat Tahfiz Darul Ittifaqiyah
last September by allegedly
setting fire to the religious
residential school. Magistrate
Siti Radziah Kamarudin made
the decision after the case was
mentioned in court where
she allowed the application
by deputy public prosecutors
Nordin Ismail and Nurakmal
Farhan Aziz under Section
177A of the Criminal Proce-
dure Code to transfer the case
to the High Court. Howev-
er, no date was set for case
mention in the High Court.
— Bernama
Police dismiss claim on
Chereh Dam’s imminent
collapse
KUANTAN: The police have
dismissed as untrue a claim
on social media that the Che-
reh Dam in Sungai Lemb-
ing is at risk of collapsing at
any time. Kuantan district
police chief ACP Abdul Aziz
Salleh said the public should
also not share the wrong in-
formation on Facebook or
WhatsApp. “Such things can
cause anxiety among the peo-
ple ... [we] don’t know what
their motive is but it only cre-
ates panic,” he said yesterday.
— Bernama
Dr Mahathir accuses
Hadi of being a turncoat
PUTRAJAYA: Tun Dr Mahathir
Mohamad accused PAS pres-
ident Datuk Seri Abdul Hadi
Awang yesterday of being a
turncoat, saying PAS turned
down political cooperation
with Pakatan Harapan (PH)
to split the opposition vote
and help Barisan Nasion-
al (BN) win in the upcom-
ing 14th general election
(GE14). PH chairman said
Abdul Hadi knew PAS would
not win many seats by going
it alone in GE14 but he was
going ahead just to help BN.
Dr Mahathir spoke to the me-
dia in conjunction with the
launch of the weekly policy
talk sessions dubbed “Hara-
pan Baru (Policy Talks)” here.
— Bernama
Grand-uncle of Selangor
Sultan dies
SHAH ALAM: Tengku Aris Te-
menggong Selangor, Tengku
Datuk Setia Muhammad Yu-
sof Shah Alhaj, 91, grand-un-
cle of Sultan of Selangor, Sul-
tan Sharafuddin Idris Shah,
passed away at Tengku Amp-
uan Rahimah Hospital, Klang,
at 11.15am yesterday. Ac-
cording to a Selangor palace
source, the remains of Teng-
ku Muhammad Yusof Shah,
who died of old age, was laid
to rest at the royal mausole-
um in Klang at about 5pm.
— Bernama
14 C O M M E N T T HU R SDAY JAN UARY 4, 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY

A Trump Christmas carol

US on the lookout for further reductions to the UN
BY JEF F REY D SACHS US$5.3 billion, US$285 million less
than the 2016-2017 budget. Annu-
al spending will be around US$2.7
billion. The US share will be 22%,
litical base. Most Americans recog- it repudiates international law. In
By brazenly nise the enormous value of the UN the case of Jerusalem, resolutions
proclaiming the and support it, but the right-wing adopted by the General Assembly
right to override fringe among Republican voters and the Security Council have re-

T
his Christmas, Amer-
ica’s gift to the world
was a US$285 million
(RM1.15 billion) cut
in the UNs’ regular
budget. Technically,
the UN regular budget reflects a
consensus decision of the body’s
193 member states, but the US was
clearly the prime mover in push-
ing for the cut. Indeed, Nikki Ha-
ley, the US ambassador to the UN,
accompanied the Christmas Eve
announcement with a warning that
the US would be on the lookout for
further reductions.
Ebenezer Scrooge could not
have done better. The budget cuts
will make it that much harder for
UN agencies to prevent wars, help
millions of people displaced by
conflicts, feed and clothe hungry
children, fight emerging diseases,
provide safe water and sanitation,
and promote access to education
and health care for the poor.
President Donald Trump and
Haley make much of the bloated
costs of UN operations, and there
certainly is room for some trimming.
But the world receives an astound-
ing return on its investments in the
UN, and member countries should
be investing far more, not less, in
its organisations and programmes.
Consider the sums. The UN reg-
ular budget for the two-year peri-
od 2018-2019 will stand at around
or around US$580 million per year,
equivalent to around US$1.80 per
American per year.
What will Americans get for their
US$1.80 per year? For starters, the
UN regular budget includes the op-
erations of the General Assembly,
the Security Council, and the Secre-
tariat (including the Secretary-Gen-
eral’s office, the Department for
Economic and Social Affairs, the
Department of Political Affairs,
and administrative staff ). When a
dire threat to peace arises, such as
the current standoff between the
US and North Korea, it is the UN’s
Department of Political Affairs that
often facilitates vital, behind-the-
scenes diplomacy.
In addition, the UN regular
budget includes allocations for the
UN Children’s Fund (Unicef ), the
UN Development Programme, the
World Health Organization, the UN
High Commissioner for Refugees,
the UN High Commissioner for
Human Rights, the UN’s regional
bodies (for Asia, Africa, Europe, Lat-
in America), the UN Environment
Programme, the Office for the Co-
ordination of Humanitarian Affairs
(for disaster response), the World
Meteorological Organization, the
UN Office on Drugs and Crime, UN
Women (for women’s rights), and
many other agencies, each special-
ising in global responses to crises,
conflicts, poverty, displacement,
environmental hazards, diseases,
international law,
the US threatens the
edifice of international
cooperation under the
UN Charter.
or other public needs.
Many of the UN organisations
receive additional “voluntary” con-
tributions from individual countries
interested in supporting special-
ised initiatives by agencies such
as Unicef and the World Health
Organization. After all, those agen-
cies have a unique global mandate
and political legitimacy, and the
capacity to operate in all parts of
the world.
The silliness of the US attack on
the size of the UN budget is best
seen by comparing it to the Pen-
tagon’s budget. The US currently
spends around US$700 billion per
year on defence, or roughly US$2
billion per day. Thus, the total an-
nual UN regular budget amounts to
around one day and nine hours of
US military spending. The US share
of the UN regular budget equals
roughly seven hours of Pentagon
spending. Some waste.
Trump and Haley are squeezing
the UN budget for three reasons.
The first is to play to Trump’s po-
views the UN as an affront to the
US. A 2016 Pew Survey put US pub-
lic approval of the UN at 64%, with
just 29% viewing it unfavourably.
Yet the Texas Republican Party, for
example, has repeatedly called on
the US to leave the UN.
The second reason is to save on
wasteful programmes, which is
necessary in any ongoing organi-
sation. The mistake is to slash the
overall budget, rather than reallo-
cate funds and increase outlays on
vitally needed programmes that
fight hunger and disease, educate
children, and prevent conflicts.
The third, and most dangerous
reason for cutting the UN’s budget
is to weaken multilateralism in the
name of American “sovereignty.”
America is sovereign, Trump and
Haley insist, and therefore can do
what it wants, regardless of oppo-
sition by the UN or any other group
of countries.
In her recent speech to the UN
General Assembly session on Jeru-
salem, where member states over-
whelmingly rejected America’s uni-
lateral recognition of Jerusalem as
the capital of Israel, Haley told the
rest of the world: “America will put
our embassy in Jerusalem. That is
what the American people want
us to do, and it is the right thing to
do. No vote in the UN will make
any difference on that.”
This approach to sovereignty is
exceedingly risky. Most obviously,
peatedly declared the final status of
Jerusalem to be a matter of interna-
tional law. By brazenly proclaiming
the right to override international
law, the US threatens the edifice of
international cooperation under
the UN Charter.
Yet another grave danger is to
the US itself. When America stops
listening to other countries, its vast
military power and arrogance of-
ten lead to self-inflicted disasters.
America Firsters like Trump and
Haley bristle when other countries
oppose US foreign policy; but these
other countries are usually giving
good and frank advice that the US
would be wise to heed. The Security
Council’s opposition to the US-led
war in Iraq in 2003, for example, was
not intended to weaken America,
but to protect it, Iraq, and indeed
the world, from America’s rage and
blindness to the facts.
“Bah! Humbug!” said Scrooge.
But Charles Dickens’s point was
precisely that Scrooge was the
great loser from his arrogance,
miserliness, and insolence. —
Project Syndicate
Jeffrey D Sachs, professor of sustain-
able development and professor of
health policy and management at
Columbia University, is director of
Columbia’s Center for Sustainable
Development and the UN Sustaina-
ble Development Solutions Network.

The best way to respond to Iran protests

BY AMIR HANDJANI
IRAN’S deadly wave of protests has
taken the government and security
forces by surprise.
What started off in the holy city
of Mashhad as demonstrations over
unpaid wages and inflation quick-
ly spread throughout the country,
widening to include grievances
about government mismanage-
ment, corruption and Tehran’s in-
volvement in Iraq, Lebanon and
Syria. Unlike the mainly urban
demonstrations that followed the
contested 2009 election, these pro-
tests have spread to Ahvaz, Ker-
manshah, Rasht and Qazvin — all
rural and relatively poorer cities.
The national groundswell means
that the government must take
these demonstrations seriously.
Here are five points for policy-
makers to consider:
1. Economics 101
The overarching theme of these pro-
tests seems to be Iran’s perpetually
mismanaged economy. Inflation, un-
employment, corruption and years of
sanctions have led to a shadow finan-
cial system that often benefits elites
and leaves the middle class and poor
further behind every year. President
Hassan Rouhani’s first campaign for
the presidency in 2013 was framed in
terms of getting a nuclear deal done
and unshackling Iran’s economy from
years of sanctions. Yet while sanctions
certainly exacerbated long-standing
structural problems of a mostly state-
run economy, they were not the un-
derlying cause of Iran’s woes.
Unemployment today in Iran
stands at 12% (youth unemploy-
ment is above 20%). Inflation since
the 1979 revolution has fluctuated
between 17% during the 1980s to a
peak of 49% during the 1990s. In the
early 2000s, under the stewardship
of reformist President Mohammad
Khatami, it was tamed at around 15%
but then skyrocketed again under
firebrand President Mahmoud Ah-
madinejad to 30% — the latter occur-
ring at a time when oil prices were
at record highs and Iran’s currency
had devalued by more than 450%.
To Rouhani’s credit, his admin-
istration has had some success in the fact that it is now being expressed that the US president is deeply un-
taming inflation (it stands at closer to by poorer Iranians traditionally con- popular among Iranians, who view
10% today) and Iran’s economy has sidered to be the regime’s base of sup- his administration as hostile to
rebounded considerably since nucle- port makes it particularly noteworthy. them, not just their government.
ar-related sanctions were lifted two His travel ban on Iranians has torn
years ago. The International Mone- See related story on Page 20 families apart and offended Amer-
tary Fund recently forecast growth at icans who have Iranian relatives no
4.2% this year, after Iran’s economy However, broad segments of longer able to visit them.
grew at 7% last year. However, it is Iranian society may not share the Trump’s refusal to certify Iranian
unclear who has benefited from this protesters’ opposition to Iran’s in- compliance with the nuclear deal
improvement. Those protesting have volvement in these countries. Is- (despite all evidence to the con-
seen their purchasing power decrease lamic State (IS) and Wahhabi Islam, trary), his attempts to discourage
as prices have steadily risen and sub- the state-sponsored religion of Sau- other countries from engaging Iran
sides cut. Rouhani’s supporters argue di Arabia, are viewed as existential and his wholesale embrace of Saudi
that it will take time for the average threats by many Iranians. They be- Arabia’s narrative blaming Tehran
Iranians to feel the benefits of sanc- lieve that it is better to fight Sunni for all conflicts in the Middle East
tions relief and for the economy to fundamentalism in Iraq and Syria make him a strange bedfellow for
stabilise; those protesting have lost rather than inside Iran’s borders. Iran’s protesters.
hope that reforms can make their The attacks last summer by IS on a Foreign interference in Iran’s
lives better in any meaningful way. religious shrine and parliament in internal affairs has left deep scars
Tehran drove this point home. Wash- in the consciousness of the Irani-
2. The role of Iran’s regional ington, Riyadh and Tel Aviv should an public for decades. The Trump
policy not expect the protests to have an administration should be mindful
Over the years, many protesters in impact on Iran’s regional policies. of exploiting the demonstrations
Iran have chanted slogans against and risk tainting the protesters as
Iran’s activist foreign policy. The 3. Trump’s support does not foreign agents, an easy tagline the
slogans amount to this: why is the help the protesters regime uses to discredit dissidents.
government spending money on US President Donald Trump has
Iraq, Syria and Lebanon and not taken to Twitter to announce his 4. What will happen next?
spending it on its own people? support for the protesters. His It is difficult to say at this nascent
This is a legitimate grievance, and words ring hollow. The fact remains CON T I N UES N EX T PAGE
THU R S DAY JA N UA RY 4 , 20 1 8 • T HE ED G E FINA NCIA L DA ILY
‘S Korea to look at boosting outflows on won rally’
BY CYNTHIA KIM & SHIN-HYUNG LEE
SEOUL: South Korea will look at
ways to direct capital flows offshore
if the won continues to soar, peo-
ple familiar with the matter said,
a move that could take heat out
of the currency without upsetting
Washington over the thorny topic
of foreign exchange management.
Asia’s fourth-largest economy
is highly reliant on shipments of
high-end goods such as ships, au-
tomobiles and electronics for its
growth but also had one of the re-
Pakistan allows
use of Chinese
yuan for trade,
investment
ISLAMABAD: Pakistan will
allow the Chinese yuan to be
used for imports, exports, and
financing transactions for bi-
lateral trade and investment
activities, in a move econo-
mists said yesterday would
simplify a massive Chinese
investment project.
Both public and private
sector enterprises may use
the yuan for bilateral trade
and investment, the central
State Bank of Pakistan said in
a statement issued on Tues-
day.
“As per current foreign ex-
change regulations, Chinese
yuan is an approved foreign
currency for denominating
foreign-currency transactions
in Pakistan,” it said.
“In terms of regulations in
Pakistan, Chinese yuan is at
par with other international
currencies such as US dol-
lar, euro and Japanese yen,”
it added.
The bank said that in light
of a massive Chinese infra-
structure project in Pakistan,
the move would “yield long-
term benefits for both the
countries”.
The China-Pakistan Eco-
nomic Corridor (CPEC),
a U S$54 billion project
launched in 2013 linking
western China to the Indian
Ocean via Pakistan, has been
hailed as a “game changer” by
Pakistani officials.
They hope the power sta-
tions and transmission lines
built as part of the project will
help ease Pakistan’s chronic
power crisis.
Economic analyst and
former government advis-
er on finance Salman Shah
welcomed the State Bank of
Pakistan’s move, saying that
avoiding dollar transactions
in the implementation of
CPEC would “simplify mat-
ters very considerably”.
The Chinese economy is
now one of the biggest in the
world, he said, justifying the
use of the Chinese currency
of choice. — AFP
gion’s hottest currencies in 2017,
which has weighed on its export
competitiveness.
People familiar with the matter
told Reuters yesterday the nation’s
foreign exchange authorities may
look into ways to spur investment
abroad should the local currency
appreciate on a consistent basis.
This would be separate to reg-
ulators’ market operations to curb
the won’s volatility, which would
still be conducted when required.
A spokesperson for the finance
ministry, which is responsible for
Ant Financial drops
MoneyGram deal
Alibaba’s affiliate fails to get approval from US regulators
BEIJING: Ant Financial, an affili-
ate of Chinese Internet titan Alib-
aba, has been forced to abandon
a US$1.2 billion (RM4.82 billion)
deal to buy US remittances firm
MoneyGram after failing to get
approval from regulators in Wash-
ington.
The decision by the Committee
on Foreign Investment (CFIUS)
will deal a blow to Alibaba boss
Jack Ma’s push into the world’s
biggest financial market and fol-
lows a number of moves to prevent
Chinese purchases of US firms.
The companies jointly an-
nounced the termination of the
proposed takeover on Tuesday,
with MoneyGram chief executive
Alex Holmes saying: “The geopo-
litical environment has changed
considerably since we first an-
nounced the proposed transac-
tion with Ant Financial nearly a
year ago.
“Despite our best efforts to
work cooperatively with the US
government, it has now become
clear that [the] CFIUS will not ap-
Vital for Rouhani to listen to grievances
F ROM P REVIOUS PAG E
stage. The protests have been small
and scattered. No indigenous lead-
ership has been identified. Most
Iranians have chosen to stay away
for fear of reprisals — at least 14
people have died and hundreds
have been arrested so far — or be-
cause they prefer to work within
a political system they have lived
under for 38 years to effect change
rather than starting from scratch.
It is vital for President Rouhani to
listen to the grievances of the dem-
onstrators. He needs to deliver on
his campaign promises of econom-
ic and social reforms. That means
confronting elements of the deep
state, nepotism and corruption.
He can even utilise these protests
foreign exchange regulation, de-
clined to comment on the matter.
The sources did not provide de-
tails of the potential measures and
declined to elaborate when asked if
the steps could include tax breaks
similar to those announced in 2015.
Back then, South Korea offered
up to 10 years in tax exemptions on
investment gains from funds that
put more than 60% of assets into
overseas stocks. The scheme took
effect in February 2016 and expired
in December.
Rising domestic interest rates,
prove this merger.”
The deal, announced a year
ago, had been submitted to the
CFIUS several times, but failed to
allay concerns about the security
of US customers’ data.
“We hope the US can create a
to strengthen his mandate.
5. The fallout for Iranian
politics
Despite the portrayal of Iranian pol-
itics as a monolith by many Western
analysts, it is highly factionalised
with competing power centres and
a myriad of special interests. Expect
hard-line factions close to Ebrahim
Raisi, Rouhani’s main rival in last
year’s election, and the security ser-
vices to blame President Rouhani
for the protests. They will portray
his government as having failed
the urban poor and exaggerating
the benefits of the nuclear deal.
On the other side, expect Rouhani
supporters to blame hard-line fac-
tions for blocking needed economic
W O R L D B U S I N E S S 15
strong exports and heightened US
scrutiny on South Korea’s foreign
exchange regime have made it
harder for Seoul to tame the won,
which rose 13% last year, its best
annual gain in 13 years.
Measures that encourage cap-
ital out of the country could help
policymakers remove some of the
upward pressure on the curren-
cy without needing to use direct
intervention in the foreign ex-
change market, a sticking point
in Seoul’s relations with Wash-
ington. — Reuters
Ma’s push into the US, the world’s
biggest financial market, will be
dealt a blow by the decision of the
CFIUS. Photo by Reuters
level playing field and predicta-
ble environment for Chinese en-
terprises to invest and start up
businesses in the US,” Chinese
foreign ministry spokesman Geng
said during a regular news briefing
in response to a question about
the deal.
Controlled by Ma, Ant Finan-
cial — which provides mobile pay-
ment, lending and credit servic-
es to a mostly Chinese clientèle
— has looked to expand abroad
along with Alibaba, China’s largest
e-commerce platform.
Nasdaq-listed MoneyGram
shares sank in after-hours trading.
The two companies will still
look to cooperate in other ways
despite the setback, Doug Feagin,
president of Ant Financial Interna-
tional, said in a statement. — AFP
reforms and stifling the relaxation
of Islamic dress code on women.
Both groups will aim to influ-
ence the Supreme Leader Ayatol-
lah Khamenei, who will stay above
the fray — at least in public. He
will reprimand all sides for using
the protests for political gain. He
will blame outsiders, particularly
those in the West for fomenting
instability. In private, however, he
should back Rouhani and give him
the latitude to aggressively pursue
his agenda. He should remind hard-
liners that time and demograph-
ics are not on their side as 60% of
Iran’s population is under 30. If
the government’s only response
is to contain the protests by force,
more will follow. — Reuters
IN BRIEF
Indonesia sells 25.5
trillion rupiah in bond
auction, above target
JAKARTA: Indonesia’s govern-
ment sold 25.5 trillion rupiah
(RM7.61 billion) in a bond auc-
tion yesterday, higher than an
indicative target of 17 trillion
rupiah, its financing and risk
management office said in a
statement. The ministry sold
T-bills maturing in April 2018
with a weighted average yield of
4.18900%, while T-bills maturing
in January 2019 had a weight-
ed average yield of 4.98840%.
Bonds maturing in May 2023
were sold with a weighted aver-
age yield of 5.79996%. Those ma-
turing in May 2028 had a weight-
ed average yield of 6.23665%.
The weighted average yield for
bonds maturing in May 2038 was
6.99998%, lower than 7.26298%
from the previous auction on
Nov 14. The total incoming bids
reached 86.21 trillion rupiah at
yesterday’s auction, compared
with 38.92 trillion rupiah bids in
the previous auction. — Reuters
Banks ‘reticent’ about
working with Sudan
— finance minister
KHARTOUM (Sudan): Suda-
nese Finance Minister Moham-
med Osman al-Rikabi said on
Tuesday that banks across the
world are still wary of working
with Khartoum despite the US
ending a trade embargo. The
US ditched its 20-year trade
embargo against Khartoum in
October, citing improvement
made by Sudan in its human
rights record, but still includes
it on a blacklist of “state spon-
sors of terrorism”. “We did not
benefit from the lifting of the
embargo. World banks are still
reticent about doing business
with Sudanese banks,” Rikabi
told reporters. Under the terms
of the US embargo, Sudanese
banks could not receive money
transfers from abroad. — AFP
China says hopes US can
create level playing field
BEIJING: China said yesterday
it hopes the US can create a lev-
el playing field and a predict-
able environment for Chinese
enterprises. The comment from
foreign ministry spokesman
Geng Shuang at a regular news
conference was in response
to a question from reporters
about a US government panel’s
rejection of Ant Financial’s ac-
quisition of US money transfer
company MoneyGram Interna-
tional Inc over national security
concerns. — Reuters
HK’s Clear Media says
employee stole 76m yuan
HONG KONG: Clear Media Ltd
said yesterday one of its em-
ployees had “illegally misap-
propriated” about 76 million
yuan (RM46.98 million) of the
outdoor advertising firm’s funds.
A cashier at the firm’s finance
department had confessed to
Chinese police to stealing the
funds that had been deposited
with a mainland bank, Clear
Media said in a filing with the
Hong Kong bourse. — Reuters
16 FO CU S
UOL stays nimble
It has benefited from the pickup in sentiment and buying activity in Singapore’s residential market
BY C EC I LI A C H OW
A
year before the collective sale
fever started raging, UOL
Group and United Industrial
Corp (UIC) quietly picked up
Raintree Gardens, a privatised
HUDC estate, for S$334.2 mil-
lion, or S$797 psf per plot ratio (ppr). Then,
in a private treaty in January 2017, they
purchased 45 Amber Road, a 70,000 sq ft
freehold site for S$156 million (S$1,063 psf
ppr), from developer Sin Lai Huat.
“Fortunately, we bought these two pieces
of land at relatively reasonable prices before
intense competition drove land prices up,”
says Liam Wee Sin, deputy group CEO of
UOL Group.
At end-September, UOL Group purchased
Nanak Mansions en bloc for S$201.1 million
(S$1,429 psf ppr) in a joint venture with sis-
ter company Kheng Leong Co, the privately
held property vehicle of the family of Wee
Cho Yaw, former UOB chairman.
Prices of subsequent collective sale sites
in the prime District 15 neighbourhoods of
Amber Road and Meyer Road have since ris-
en. In early October, Amber Park was sold for
S$906.7 million (S$1,515 psf ppr), followed
by the S$146.99 million (S$1,536 psf ppr)
sale of Parkway Mansion in mid-December.
‘Disconnect’ between prices of land and
private homes
“Each new en bloc sale or government land
sale seems to have set the benchmark for
the next tender, fuelling the escalating land
prices,” says Liam. He sees a “disconnect”
between the prices of land and the end-prod-
uct — private homes.
According to URA data, private-home
prices showed an uptick of 0.7% in 3Q17 af-
ter 15 consecutive quarters of price declines.
Based on transacted prices of en bloc sites
sold in prime District 15 alone, freehold
land prices have soared 44.5% in terms of
psf ppr over the last 12 months. Thus, Liam
says, “we will be more selective in bidding
for sites with good attributes and where
asking prices are reasonable”.
UOL has been buying en bloc sites over
the past 20 years, starting with the one for
Novena Suites in 1997, followed by the one for
The Sunshine on Upper Serangoon Road and
1 Moulmein Rise in 1999. The latest acquisi-
tion was Nanak Mansions on Meyer Road.
UOL will develop the former Raintree Gardens into
a 728-unit private condo with a 20m riverfront.
Photo by JLL
T HU R SDAY JAN UARY 4, 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY
UOL and Kheng Leong purchased Nanak Mansions for S$201.1 million (S$1,429 psf ppr) in September; it will be redeveloped into a 68-unit high-end condo. Photo by JLL
“En bloc sites have been a great way to has been appointed the architect for the 70% sold as at end-September, according
replenish our land bank and a source of project, which will capitalise on its serene to UOL’s 3QFY17 results announcement. It
freehold land,” says Liam. surroundings and the 20m riverfront. It will has since been fully sold and is scheduled
be a scheme “inspired by nature” featuring for completion by end-2018.
Launch of Amber 45, Raintree Gardens sky gardens and lush landscaping, says Liam. At Principal Garden on Prince Charles
UOL plans to launch two projects this year: WOHA was the architect behind UOL’s Crescent, only three of a total of 663 units
45 Amber Road (Amber 45) in 1H18 and the other projects: five-star hotel Parkroyal on are available for sale. The project is a joint
new development at Raintree Gardens in Pickering, Newton Suites and One Moulmein venture between UOL and Kheng Leong,
Potong Pasir in 2H18. Rise, which are all award-winning projects. and was launched in October 2015. Mean-
According to Liam, with a plot ratio of 2.1, UOL has also engaged WOHA to design while, the 505-unit The Clement Canopy, a
the site at 45 Amber Road will be developed its new development at Nanak Mansions. joint venture between UOL and UIC, was
into a 21-storey, 139-unit residential tower. Sitting on a prime freehold site of 109,631 launched in February this year and is al-
The freehold project will have full-fledged sq ft off Meyer Road, the site will be rede- ready 84% sold. All these projects — such as
condo facilities, including a 50m swimming veloped into a boutique 68-unit, high-end Riverbank, Botanique at Bartley, Principal
pool and tennis court. The project is designed condo. Likewise, it will be a sustainable Garden and The Clement Canopy — are 99-
by ADDP Architects, which was the archi- design with a focus on greenery, says Liam. year leasehold condos developed on sites
tect for The Clement Canopy, UOL’s condo purchased in government land tenders.
project at Clementi Avenue 1, launched in Existing launches substantially sold
February this year. Like The Clement Can- The developer has also benefited from the Roll-out of maiden London project
opy, the new project at 45 Amber Road will pickup in both sentiment and buying ac- Beyond Singapore, UOL is looking to launch
not feature one-bedroom units; the smallest tivity in the residential market. Its 555-unit its project in London called One Bishops-
will be two-bedroom units. Riverbank at Fernvale, launched in Febru- gate Plaza, a redevelopment of the former
At Raintree Gardens, UOL is developing ary 2014, is fully sold and was completed Heron Plaza, which was purchased in Au-
a 20-storey development with a total of 728 in March this year. The 797-unit Botanique gust 2014. The 42-storey One Bishopsgate
units, given its higher plot ratio of 2.8. WOHA at Bartley, launched in March 2015, was Plaza will comprise 160 apartments and
236 hotel rooms branded Pan Pacific Lon-
don. “The key advantage is its location in
the City of London, right next to Liverpool
Station and linked to Crossrail with direct
access to Heathrow Airport and Canary
Wharf,” says Liam.
He adds that UOL is “still confident” about
the UK market. “In the micro-market of Bish-
opsgate, there’s still scarcity in terms of both
hotel rooms and apartments,” he says. “We
believe housing demand will still be healthy.”
In Shanghai, UOL has a mixed-use devel-
opment in the Changfeng Ecological Business
Park called Park Eleven. It is a joint-venture
project with Kheng Leong and UIC. The first
phase of 168 units was launched in October
2016 and more than 90% was sold. UOL plans
to launch the second phase next year. The
development has 398 residential units and
4,000 sq m of retail space.
In Singapore, Liam sees buying momen-
tum continuing into 2018. “But if developers
are buying land at higher price points, they
Newton Suites is a redevelopment of an en bloc site, Liam: We will be more selective in bidding for sites will be testing their products at higher pric-
one of 21 purchased by UOL over the past 20 years. with good attributes and where asking prices are es,” he says. “So, we still have to wait and see
Photo by UOL Group reasonable. Photo by The Edge Singapore how things pan out.” — The Edge Singapore
THU R S DAY JA N UA RY 4 , 20 1 8 • T HEED G E FINA NCIA L DA ILY
FO CU S 17

DBS puts the D in Gandalf and conjures up blue skies

BY CH AN C HAO PEH
FIRST, there were the FANG stocks — Face-
book, Amazon.com, Netflix and Alphabet’s
Google. Then, FANG became FAANG, with
iPhone maker Apple added to the mix. Now,
DBS Group Holdings has come up with an-
other acronym for big technology stocks
changing the world — GANDALF (as in the
wizard from The Lord of the Rings), which
includes the FAANG stocks plus LinkedIn
and itself.
It is rather contrived, of course. LinkedIn
is now part of Microsoft, after being acquired
in December 2016. More to the point, DBS is
the archetypal established player that would
potentially have the most to lose in the face
of technology-driven disruption. Yet, DBS
is determined to avoid succumbing to this
fate and has been relentless in its effort to
harness technology and make use of data to
protect its turf and fuel its growth.
To its credit, much of that work has been
done in-house, underscoring its commitment
to being a technology company of sorts. In
2009, about 85% of its technology functions
were outsourced. Now, about 85% is done
internally. “If you want to be a technology
company, you’d better own your own tech-
nology,” says Piyush Gupta, CEO of DBS.
Among other things, DBS has consoli-
dated its data centres and moved a lot of
its computing systems onto the cloud. It
has introduced the “digibank”, essentially
a smartphone app that makes it easier for
customers to perform common transactions
such as fund transfers. There are also other
apps that are more specialised, such as the
“PayLah!” mobile wallet.
While much of this sounds prosaic, the
DBS Group Holdings Ltd
Vol(mil)
80
S$24.55
70
60
50
40
30
20
10
0 10
Dec 26, 2014 Dec 21, 2017
things that DBS claims to be able to do with
its grasp of technology and data are quite in-
teresting. For instance, the bank says it can
predict when its relationship managers are
poised to resign by analysing data on their
sales performance and other behavioural
patterns. DBS also says the digitalisation
of its operations has improved its cost-to-
income ratio, from 45% in 2014 to an annu-
alised 42.5% this year.
The gains were especially pronounced
for the bank’s consumer and small and me-
dium-sized enterprise businesses in Sin-
gapore and Hong Kong, which generate a
combined 44% of the bank’s total income.
Between 2015 and this year, the annualised
cost-to-income ratio for the Singapore and
Hong Kong consumer and SME markets
combined improved from 49% to 43%.
These business segments have also been
getting more profitable. Their return on eq-
uity improved from 22% in 2015 to 24% this
year. The entire group chalked up an ROE
of 11.2% in 2015 and 9.7% last year. Income took that of Singapore Telecommunications.
for the Singapore and Hong Kong consumer Yet, bank stocks in general have done well.
S$
and SME markets grew at a compounded The other two local banks, Oversea-Chi-
25
11% a year since 2015, versus 4% a year for nese Banking Corp and United Overseas
the entire bank. Bank, have seen their shares gain 37.33%
DBS says customers who predominant- and 27.89% respectively this year. And, for
20 ly use its digital platforms have generated all its progress in digitalisation, earnings at
a 23% compound annual growth rate in DBS are still greatly influenced by factors
income, and an ROE of 27%. By contrast, related to the banking cycle. For 3QFY17,
15 so-called “traditional” customers are a -2% DBS reported a 23% y-o-y earnings decline
CAGR drag on income and generate an ROE to S$822 million, owing to a near-doubling
of only 19%. In addition, digital consumer in provisions of S$815 million, much of it
customers are being acquired by the bank related to troubled borrowers in the oil and
at 43% of the cost of acquiring traditional gas sector.
customers. Similarly, digital SME custom- For now, Credit Suisse is forecasting an
ers are being acquired at 54% of the cost of ROE of 12.1% to 12.2% for 2018 and 2019,
acquiring traditional SME customers. and it has a price target of S$27.40 (RM82.75)
Gupta says he had wanted to disclose for the stock. It remains to be seen whether
this data last year, but was held back by the Gupta, like the wizard Gandalf, will be able
board. The go-ahead was finally given after to conjure up even bluer skies. — The Edge
three years of data had been carefully ana- Singapore
lysed. Now, DBS is guiding for a bank-wide
ROE of 13.5% to 14.5% a year, discernibly
higher than its historical peak of
12.7% achieved in 2006 as well
as 10.3% achieved last year and Gupta: If you want to be
9.7% this year. a technology company,
If DBS is indeed able to deliver you’d better own your
such a level of ROE over the next own technology. Photo by
five years, it would translate into Samuel Isaac Chua/The
a share price of between S$43.70 Edge Singapore
and S$47.80 under a “blue sky”
scenario, according to Credit
Suisse.
So, is DBS about to join the ranks of the
FANG stocks? Certainly, its shares have en-
joyed a FANG-esque rally recently. Since the
beginning of the year, they have jumped
more than 42%. And, on Nov 17, the
market capitalisation of DBS over-

ComfortDelGro teams up with Uber after once-lofty shares take a beating

BY T R I N I T Y C H UA
DURING the uncertain years following the
global financial crisis, ComfortDelGro Corp
offered investors a seemingly reliable com-
bination of growth and dividends. Between
2010 and 2015, its annual dividends increased
from 5.5 Singapore cents a share to nine Sin-
gapore cents, while its shares climbed nearly
90%. During the same period, the Straits Times
Index fell 0.4%. But things started going wrong
for the company last year.
The emergence of ride-hailing apps such as
Grab and Uber not only gave an alternative to
commuters fed up with not being able to find a
taxi when they needed one, they also provided
cabbies with potentially more lucrative jobs.
Taxis drivers typically pay daily rents of S$75
to S$105, while private cars can be hired for as
little as S$45. Grab and Uber have also offered
bonuses for drivers who clock a certain num-
ber of rides. Some drivers who spoke to The
Edge Singapore estimate that they can break
even after driving a private hire car for only
three hours, compared with six hours with a
cab. And, this is not unique to Singapore. A re-
port by Oxford Martin School’s Carl Benedikt
Frey suggests that Uber drivers in the US earn
more than traditional taxi drivers.
The result has been taxi drivers abandon-
ing their cabs in droves, making it harder for
ComfortDelGro to keep its fleet fully rented.
According to the local papers, at least 3,000
drivers switched their cab for a private car in
the last few months. In July, Singapore’s taxi
fleet stood at 25,325, down 10% y-o-y.
ComfortDelGro itself had a fleet of 15,472
cabs in July, down 11% y-o-y. By September,
the figure had shrunk further, to 14,823, the
smallest fleet in eight years. While Comfort-
DelGro had been able to achieve a 100% taxi
hire-out rate in the past, the numbers began
to falter last year. Its taxi idle rate widened
ComfortDelGro’s fleet of taxis shrank to 14,823 in September, the smallest number in eight years. Photo by
Samuel Isaac Chua/The Edge Singapore
from 3.5% in 1QFY17 to 5% in 2QFY17 and
then, 5.4% in 3QFY17.
This trend could affect ComfortDelGro in
other markets. In China, where the company
has more than 10,000 vehicles, Didi Chuxing
is making big strides after squeezing Uber out
in 2016. In Vietnam, where ComfortDelGro
has two taxi companies, Grab is also eating
into the taxi market by offering consumers
heavy discounts.
For its FY14, ComfortDelGro’s taxi business
accounted for 31.7% of its total revenue and
34.1% of its total operating profit. Some 75%
of its taxi revenue and 66% of the division’s
operating profit came from Singapore. The
group stopped disclosing its taxi revenue and
operating profit by country after 3QFY15. But
things have clearly worsened for the business
as well as the whole group since then.
For 3QFY17, ComfortDelGro reported an
8.2% y-o-y decline in earnings to S$80.1 mil-
lion on a 2.4% fall in revenue to S$991 mil-
lion. Revenue from the group’s taxi business
fell 11.2% y-o-y to S$298.3 million. This year
alone, ComfortDelGro has seen its market
value shrink by S$1.2 billion. Its shares are
down 25% this year, closing at a 52-week low
of S$1.91 on Dec 21.
But ComfortDelGro is not going down
without fight. In August, the company an-
nounced a likely alliance with Uber. And,
earlier this month, it struck a deal to acquire
a 51% stake in Uber’s car rental arm, Lion City
Rentals (LCR). The deal is valued at S$642
million, with a cash consideration of S$295
million. LCR has a fleet of 14,000 vehicles and
a utilisation rate of 90%. As part of the deal,
ComfortDelGro’s cabbies will be able to use
the Uber drivers’ app.
On the face of it, the deal makes sense.
Uber only got into the car rental business in
order to support its ride-hailing business in
Singapore. And, ComfortDelGro will now have
a foothold in a car rental business to offset its
shrinking taxi rental operation.
The financial impact in the near term is
unlikely to be significant, though. UOB Kay
Hian (UOBKH) expects the deal with Uber to
add 5% to ComfortDelGro’s FY18 earnings.
UOBKH projects revenue to grow marginally
by 1% to S$3.97 billion in FY18, but net profit
to fall 3.7% to S$291 million, before recovering
slightly to S$298.1 million in FY19.
Yet, the long-term impact of acquiring a
51% stake in LCR is unclear. For one thing,
Uber is itself in a desperate war with Grab.
While Grab and Uber drivers as well as pas-
sengers are benefiting from all manner of
promotions now, things could be very dif-
ferent in a couple of years. In fact, Japanese
conglomerate SoftBank Group, which is a
backer of Grab, is now in talks to buy a stake
in Uber. The move could lead to Grab and
Uber working together.
What would that mean for ComfortDelGro
and LCR? “If Grab and Uber start working to-
gether, the combined entity will have ways to
circumvent LCR to further grow its combined
private hire fleet, and so the strategic value
of the shares in LCR held by Uber would be
less valuable to ComfortDelGro,” says Ter-
ence Fan, a transport economist at Singapore
Management University.
Indeed, after a small fillip of excitement
when the LCR deal was announced, shares
in ComfortDelGro have continued sliding.
— The Edge Singapore
18 W O R L D B U S I N E S S
ECB governor calls for tax,
regulation on bitcoin
He labels the cryptocurrency an object of speculation, a tool for money laundering
Nowotny addressing a news conference in Vienna, Austria, on March 30, 2017. The head
of Austria’s central bank says people are now asking him on the Vienna metro whether
they should buy bitcoin, rather than gold as in the past. Photo by Reuters
BP sets US$1.5b
charge for US
tax changes
BY RO N B OU SSO
LONDON: Oil giant BP will
take a one-off US$1.5 billion
(RM6.03 billion) charge to ad-
just to new US tax rules, but ex-
pects a long-term boost from
the corporate-friendly tax rates,
it said on Tuesday.
BP’s rival Royal Dutch Shell
said last week it would incur a
one-off charge of US$2 billion
to US$2.5 billion for the US tax
changes.
Like BP, Shell and many oth-
er international companies said
they expected a long-term posi-
tive impact on US earnings from
the massive US$1.5 trillion tax
overhaul that US President Don-
ald Trump signed into law last
month. It cuts the corporate rate
from 35% to 21% and temporar-
ily reduces the tax burden for
most individuals as well.
But BP said that in the short
term, lower tax rates will affect
its deferred tax assets and lia-
bilities, resulting in a one-off,
non-cash charge of US$1.5 bil-
lion to its 2017 fourth-quarter
results which are due to be an-
nounced on Feb 8.
“The ultimate impact of the
change in the US corporate in-
come tax rate is subject to a num-
ber of complex provisions in the
legislation which BP is review-
ing,” BP said in a statement.
The British company’s
shares closed down about 1%
on Tuesday. The adjustment
will not affect BP’s cash flow in
the fourth quarter. — Reuters
BERLIN: A top European Cen-
tral Bank (ECB) official yesterday
called for governments to reg-
ulate and tax bitcoin, labelling
the cryptocurrency an object of
speculation and a tool for money
laundering.
“One ought to apply what the
basic rule is in any other finan-
cial transaction: everyone involved
should reveal their identity,” ECB
governing council member Ewald
Nowotny told the German daily
Sueddeutsche Zeitung.
“We need a value-added tax on
bitcoin, since it’s not a currency,”
said Nowotny, who is head of Aus-
tria’s central bank.
Nowotny’s comments echo
those of other ECB officials, who
regard the bitcoin’s spectacular
surge in value as a bubble, rather
than a sign it could be a digital com-
petitor to the euro single currency
MiFID reprieve for EU clearing houses
BY HUW JONES a derivative contract within the
same exchange group that traded
LONDON: Regulators have grant- the contract.
ed a last-minute reprieve to three But Britain’s Financial Conduct
clearing houses in Germany and Authority (FCA) said it received
Britain from having to give cus- applications for an open-access
tomers more choices under new waiver from ICE Futures Europe
European Union (EU) market rules and from the London Metal Ex-
that came into effect yesterday. change (LME).
One of the aims of the rules, This means the exchanges would
known as the Markets in Financial not yet have to make changes to al-
Instruments Directive, or MiFID low customers to clear contracts
II, is to make it easier for people to elsewhere.
choose where to clear the listed de- The FCA said it has decided to
rivatives contracts they buy and sell. grant transitional arrangements
This would be done through in the interests of ensuring there
the “open access” rule, which is an “orderly functioning market”.
stops any requirement to clear “Accordingly, with effect from
Group takes legal action that could block Niki sale to IAG
BY DOUGLAS BUSV I NE
& THOM AS SEYTHA L
FRANKFURT: A group representing
airline passengers has taken legal
action to shift insolvency proceed-
ings for budget airline Niki to Aus-
tria from Germany, in a move that
could endanger the sale of the Air
Berlin unit to Britain’s IAG.
Fairplane, seeking to recover
more than €1 million (RM5.8 mil-
lion) it says Niki owes to passengers,
filed separate legal cases on Tues-
day to block insolvency proceed-
ings in Berlin and to open them
instead in Austria.
Although the sum sought is rel-
atively small, a spokesman for Air Vueling operation that was agreed
Berlin liquidator Lucas Floether last week. “If the complaint be-
said the complaint could derail fore the Charlottenburg Court [in
the sale of Niki to IAG’s low-cost Berlin] succeeds, the sale of Niki
T HU R SDAY JAN UARY 4, 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY
used by its 19 member nations.
Nevertheless, the “digital gold”
is a concern for central bankers as
it can allow money launderers to
dodge around increasingly strict
rules in the traditional financial
system.
“It can’t be allowed that we have
just decided to stop printing €500
(RM2,416) notes to fight money
laundering, that we have slapped
strict rules on every tiny savings
club, and then have to watch people
blithely laundering money around
the globe with bitcoin,” Nowot-
ny said.
While blasting the cryptocur-
rency’s bubble-like characteristics,
Nowotny acknowledged the topic
had “reached the heart of society”,
with people now asking him on the
Vienna metro whether they should
buy bitcoin, rather than gold as in
the past. — AFP
Jan 3, 2018, ICE Futures Europe
and LME will not be required to
consider open-access requests ...
as they relate to exchange-traded
derivatives, until the expiry of the
transitional period on July 3, 2020.”
BaFin, the German market reg-
ulator, announced late on Tues-
day that it had granted the same
time-limited waiver to Deutsche
Boerse’s Eurex Clearing arm.
Some EU policymakers and
Deutsche Boerse had warned about
financial stability risks from open-
ing up derivatives clearing to com-
petition, but critics had said this
was an excuse to prevent compe-
tition. — Reuters
to IAG would be greatly endan-
gered,” the spokesman said. A rul-
ing by the court on the case was
due this week.
British Airways’ owner IAG said
last Friday it would buy Niki for €20
million and provide up to €16.5 mil-
lion in additional liquidity to the
company. The sale to IAG, which
had been in exclusive talks to ac-
quire the airline, appeared to mark
the final chapter in the demise of
Air Berlin, the former No 2 German
air carrier that earlier owned Niki.
Fairplane argues however that
Niki, which is registered as a com-
pany in Austria, had been profita-
ble but had lost access to bridge
financing when insolvency pro-
ceedings were opened in Germany
in December, grounding planes and
stranding passengers. — Reuters
IN BRIEF
Britain interested in
joining TPP trade deal
after Brexit — paper
LONDON: Britain is interest-
ed in joining the Trans-Pacific
Partnership (TPP) trade bloc
after it leaves the European
Union, the Financial Times
(FT) newspaper said. The FT
said that Britain had started
informal talks about join-
ing the bloc in a bid to boost
post-Brexit exports. Although
the US pulled out of the talks
to form the bloc nearly a year
ago, other TPP countries have
pledged to move forward with
plans for a trade group. The
TPP has so far involved only
countries around the Pacific
Rim such as Japan, Canada and
Mexico. However, Junior Trade
Minister Greg Hands said there
was no geographical restriction
that would prevent Britain’s
participation. — Reuters
PSH, Valeant to appear
in court over insider
trading suit settlement
BENGALURU: A US court on
Tuesday asked Valeant Phar-
maceuticals International Inc
and activist investor Bill Ack-
man’s Pershing Square (PSH)
to appear for a hearing to dis-
cuss the proposed settlement
in an insider trading lawsuit.
The hearing, set for Jan 16,
comes after Pershing Square
and Valeant last week decided
to pay US$290 million (RM1.16
billion) to settle the lawsuit that
accused them of insider trading
before bidding for Allergan plc
in 2014. The lawsuit was filed on
behalf of investors who sold Al-
lergan shares in the two months
before Pershing Square Capital
Management and Valeant made
an unsolicited US$51 billion bid
for Allergan. — Reuters
Ryanair applies for UK
licence ahead of Brexit
LONDON: Irish low-cost carrier
Ryanair said on Tuesday it had
applied for a British operating
licence in case Britain leaves the
European Union next year with-
out an aviation deal. Other air-
lines have made similar moves
amid concerns that Brexit could
severely disrupt air traffic be-
tween Britain and continental
Europe. “Ryanair today (yester-
day) confirmed that a subsidi-
ary company, Ryanair UK, filed
an application on Dec 21 for an
Air Operator’s Certificate with
the Civil Aviation Authority in
the UK,” a spokesman for the
airline said. — AFP
Airbnb says court
dismisses Aimco lawsuit
BENGALURU: Airbnb said a
US district court dismissed a
lawsuit by Apartment Invest-
ment & Management Co that
claimed the short-term rent-
al website allowed tenants to
break their lease agreements
through unauthorised sublets.
The real estate investment trust
claimed tenants frustrated with
Airbnb left Aimco properties
and also alleged that Airbnb
activities caused its properties
“reputational harm”. — Reuters
THU R S DAY JA N UA RY 4 , 20 1 8 • T HE ED G E FINA NCIA L DA ILY
Spotify hit
with new
copyright suit
in US
NEW YORK: A music publish-
er is seeking at least US$1.6
billion (RM6.44 billion) from
Spotify for alleged copyright
violations, the latest lawsuit to
hit the fast-growing streaming
company.
Wixen Music Publish-
ing Inc, which holds rights
to songs of major artistes
including Neil Young, The
Doors, Tom Petty and Santa-
na, charged in a lawsuit that
Spotify failed to seek licences
for significant parts of its 30
million-song catalogue.
“While Spotify has become
a multibillion-dollar com-
pany, songwriters and their
publishers, such as Wixen,
have not been able to fairly
and rightfully share in Spoti-
fy’s success, as Spotify has in
many cases used their music
without a licence and without
compensation,” said the law-
suit filed last week in a federal
court in Los Angeles.
The lawsuit said that Spot-
ify initially tried to work with
record labels but, “in a race
to be first to market, made
insufficient efforts to collect
the required musical compo-
sition information”.
Wixen, which is seeking a
jury trial against the Swedish
company, presented a list of
10,784 songs for which it ques-
tioned Spotify’s permission
to stream.
The publisher said it was
seeking the maximum allowed
US$150,000 in damages for
copyright damages for each
song, meaning an award of
at least US$1.6 billion, along
with the fees of its lawyers.
Even if unsuccessful, law-
suits amount to a headache
for Spotify as the company
considers going public.
Spotify, which has been
valued at anywhere from
US$8 billion to $16 billion,
has maintained its dominance
as streaming rapidly grows
and transforms the recorded
music market. — AFP
TV content wars will have grisly season finale
BY J E N N I F ER SA B A
NEW YORK: The golden age of TV
programming is heading for a grisly
finale. Netflix, Amazon, Apple, and
Hulu are on course to boost their
spending on new shows and mov-
ies at a faster clip than the growth of
the overall video-streaming market.
Consolidation among traditional
media groups is only adding to the
frenzy. Something will have to give.
Netflix set off the arms race.
In 2017, the company founded
by Reed Hastings directed US$6
billion (RM24.15 billion) towards
licensing and original series like
Stranger Things. In 2018, execu-
tives plan to earmark up to US$8
billion for content, a 33% increase
Wall Street carries
momentum into 2018
Major indices up, driven mostly by gains in tech stocks
BY SRUTHI SHANKAR
BENGALURU: Wall Street’s major in-
dices were higher on the first trading
session of 2018 on Tuesday, driven by
gains in technology and consumer
discretionary stocks, setting the stage
for another robust year for equities.
Major stock indices closed out
2017 with their best performances
since 2013 and the rally is widely ex-
pected to continue this year, helped
by a cut in corporate taxes that is
anticipated to boost profits as well
as the economy.
“It is seasonally a very good time
for equities as new money comes
into work,” said John Brady, senior
vice-president at futures brokerage
RJ O’Brien & Associates in Chicago.
“It seems as if most economists
have raised their GDP (gross do-
mestic product) forecasts for 2018,
and we’re going to get some form
of a fiscal stimulus into an econo-
my that has a tight labour market.
The market is pricing all of this in.”
Gains in Apple, Facebook, Al-
phabet and Microsoft pulled the
Legal cannabis to generate
US$40b, 400,000 jobs — study
LOS ANGELES: The legal cannabis
sector is expected to generate US$40
billion (RM161.04 billion) and more
than 400,000 jobs by 2021 in the US,
according to a study released on
Tuesday.
The estimate by consulting firm
Arcview includes direct purchases
by consumers of US$20.8 billion and
indirect revenue for growers and vari-
ous subcontractors, as well as money
spent with businesses not affiliated
year-on-year (y-o-y). Across the
industry, the number of original
TV shows has more than doubled
to 455 between 2010 and 2016,
according to research firm Mof-
fettNathanson.
Along with Amazon, Hulu and
Apple, the total spending on con-
tent by the big four media upstarts
in 2018 will mushroom some 30%
y-o-y to US$18 billion, according
to a Reuters forecast based on an-
alysts’ estimates. Yet the entire
global video-streaming market is
expected to increase 16% to about
US$21 billion, reckons PwC.
That means there has never
been a better time to be a couch
potato, but it’s glum news for the
companies themselves. The tangle
A man holding an iPhone X and high-fiving Apple employees as he walks into the
new Apple Visitor Center in California. Apple was one of the tech firms to pull the
technology index higher by about 1%, following a 37% surge in 2017. Photo by Reuters
technology index higher by about
1%, following a 37% surge in 2017
that made it the best performing
S&P sector.
The S&P 500 Consumer Discre-
tionary Index was up 1.35%, boosted
by a 1.4% gain in Amazon and a 3%
increase in Walt Disney.
At 1728 GMT, the Dow Jones In-
dustrial Average was up 49.97 points,
with the sector such as supermarkets.
The projection would represent
a rise of 150% on the US$16 billion
revenue recorded in 2017, accord-
ing to the study, released the day
after recreational use of marijuana
became legal in California.
Arcview and its partner in the re-
search, BDS Analytics, expect US$4
billion in taxes to be generated with-
in three years. The new regime will
lead to the creation of nearly 100,000
of options in streaming services
and programming chasing a finite
number of subscribers suggests
the industry is entering into an
unsustainable investment battle
— and a potential price war may
follow as players try to rake in extra
market share.
Netflix looks like a survivor. It
was a first mover in video streaming
a decade ago, and has 100 million
global customers. The snag is that
it is burning cash — up to US$2.5
billion in 2017. Competitors Apple
and Amazon could easily outmatch
Netflix on content budgets if they
decided to abandon financial rea-
son. Amazon for instance coughed
up US$250 million for rights to
the Lord of the Rings TV series,
W O R L D B U S I N E S S 19
or 0.2%, at 24,769.19 and the S&P 500
Index was up 16.7 points, or 0.62%,
at 2,690.31. The Nasdaq Compos-
ite was up 82.61 points, or 1.2%, at
6,986.00.
Advancing issues outnumbered
decliners on the New York Stock
Exchange by 1,786 to 1,073. On the
Nasdaq, 2,019 issues rose and 902
fell. — Reuters
cannabis industry jobs in California
by 2021, about a third of the nation-
wide figure and 146,000 jobs overall
when indirect effects are considered.
California, the most populous US
state, became the largest legal mar-
ket for marijuana in the world on
Monday, and public reaction to the
law change has been enthusiastic,
with long lines and stock shortages
reported at clinics already licensed
and open. — AFP
according to a report in Deadline
Hollywood. Facebook and Alpha-
bet’s YouTube are lurking in the
shadows, but that could change.
Hulu, with its hydra-headed
ownership split among Twen-
ty-First Century Fox, Comcast,
Walt Disney and Time Warner, is
in a weaker position. Its owners
are separately planning their own
direct-to-consumer products, add-
ing to the competition. Then there
is the possibility of consolidation
as media firms bulk up their own
content to feed their services. In the
latest example, Disney has agreed
to buy some of Fox including its
stake in Hulu for US$52 billion. The
result is too many characters chas-
ing not enough action. — Reuters
IN BRIEF
Amazon says over five
billion items shipped
in 2017 via Prime
BENGALURU: Online retailer
Amazon.com Inc said on Tues-
day it shipped over five billion
items worldwide via its sub-
scription-based Prime service
in 2017 while adding more new
members than ever before. The
e-commerce giant claimed that
its Fire TV Stick and voice-con-
trolled smart device Echo Dot
were the best-selling products
among US Prime members
from any manufacturer in any
category across all of its prod-
uct offerings. Amazon Prime,
which offers its users services
like free two-day shipping for
certain purchases, unlimited
streaming of movies and TV
shows with Prime Video, has
been attracting more subscrib-
ers every year with a presence
in 16 countries. — Reuters
American Airlines, South-
west employees to get
bonus after tax reform
BENGALURU: No 1 US airline
American Airlines Group Inc
and peer Southwest Airlines
Co on Tuesday said they would
give their employees a US$1,000
(RM4,026) bonus in light of the
recent tax reform bill. American
Airlines will distribute the bonus
to each team member, exclud-
ing officers, at its mainline and
wholly-owned regional carriers,
according to an internal memo
seen by Reuters. Southwest said
it also donated US$5 million to
charitable causes and that it was
increasing its fleet investment
with Boeing. — Reuters
Brazil closes 2017 with
trade surplus 40.5%
higher than previous year
BRASILIA: Brazil’s road to eco-
nomic recovery has passed an-
other milestone with official
data showing on Tuesday that
the country finished 2017 with
a record trade surplus 40.5%
higher than in the previous year.
The US$67 billion (RM269.748
billion) surplus was in line with
market projections and within
the US$65 billion to US$70 bil-
lion range forecast by the gov-
ernment. Brazil’s economy is
projected to grow 2% this year,
according to an annual report
by the UN-backed Economic
Commission for Latin America
and the Caribbean released last
month. — AFP
Top Canadian CEOs made
more than 200 times
average worker — study
MONTREAL: Canada’s 100 high-
est paid chief executive officers
(CEOs) made more than 200
times the income of the ordinary
worker in 2016, raking in an av-
erage C$10.4 million (RM33.4
million), a study found on Tues-
day. The Canadian Centre for
Policy Alternatives said CEOs’
pay in 2016 was the highest it
had been since the 2008 global
recession. Salary accounted for
only 11% of their pay, compared
to 14% in 2008, due to the rising
share of bonuses and stocks in
executive compensation. — AFP
20 WORLD
N Korea reopens border hotline
This is hours after Trump said his nuclear button is ‘bigger and more powerful’
BY C H R I S T I NE KI M
SEOUL: North Korea reopened a
long-closed border hotline with
South Korea yesterday, hours af-
ter US President Donald Trump
appeared to mock the North’s lead-
er by saying he has a “bigger and
more powerful” nuclear button
than he does.
The North’s decision to open
the border phone line came a
day after South Korea proposed
high-level discussions amid a
tense stand-off over North Korea’s
Indonesia
launches cyber
agency
JAKARTA: Indonesia launched a
new cybersecurity agency yester-
day as the world’s biggest Muslim
majority country moves to tackle
online religious extremism and a
flood of fake news on social media.
Millions of Indonesians are
going online for the first time
just as concern about Internet
hoaxes reaches a fevered pitch.
One of the most high-profile
cases in recent times was a false
claim circulating on social me-
dia in December that Beijing
was seeking to wage biologi-
cal warfare against Indonesia.
The viral hoax prompted the
Chinese embassy to issue a
statement saying that the re-
ports were “misleading”.
Yesterday, Indonesian presi-
dent Joko Widodo named Major
General Djoko Setiadi, former
chairman of the country’s encryp-
tion agency, to lead the new body.
Setiadi’s task will include
cracking down on terrorist net-
works which communicate on-
line and combating online hate
speech that has been blamed
for driving fundamentalism in
the country. — AFP
Iran holds pro-government rallies after sixth day of protests
BY B OZO RGMEH R SH A RAFEDIN
LONDON: Pro-government rallies
in several Iranian cities drew thou-
sands of marchers yesterday, fol-
lowing six days of rare unrest that
took the country’s leaders off guard.
State television broadcast live
pictures of rallies in Kermanshah,
Ilam and Gorgan, where marchers
waved Iranian flags and pictures
of Supreme Leader Ayatollah Ali
Khamenei.
The boldest challenge to Iran’s
established order in almost a decade
had continued into Tuesday night,
with postings and video footage on
social media showing riot police
missile and nuclear programmes.
That followed North Korean
leader Kim Jong-un’s New Year
address in which he said he was
open to speaking with the South
and would consider sending a del-
egation to the Winter Olympics to
be held just across the border in
Pyeongchang in February.
US officials said Washington
would not take any talks between
North and South Korea seriously
if they did not contribute to denu-
clearising North Korea. A State De-
partment spokesman said North
NORTH KOREA’S ‘CHILLING’ WEAPON ... Children posing for a photo before an ice sculpture depicting a
Hwasong-15 intercontinental ballistic missile (ICBM) and self-propelled launcher, as people marked the new year at the Pyongyang
Ice Sculpture Festival on Kim Il Sung Square in Pyongyang on Dec 31. The official Rodong Sinmun newspaper ran a report yesterday
showing smiling spectators dressed in thick winter coats posing in front of the replica on New Year’s Eve, waving cameras and
smartphones to grab a shot. Pyongyang says the weapon depicted in the sculpture, a Hwasong-15 ICBM, which it tested in November,
is capable of hitting the US mainland. Photo by AFP
deployed in force in several cities.
Hours earlier, Khamenei ac-
cused Iran’s foes of fomenting the
unrest.
Yesterday marchers voiced their
support for Khamenei, chanting:
“The blood in our veins is a gift to
our leader” and “we will not leave
our leader alone”.
The protests, which began over
economic hardships, have taken on
a rare political dimension, with a
growing number of young people
calling on Khamenei to step down.
They are the biggest since unrest
in 2009 that followed the disput-
ed re-election of then president
Mahmoud Ahmadinejad.
Korea “might be trying to drive a
wedge of some sort”.
Kim ordered the reopening of
the hotline at the truce village of
Panmunjom at 0630 GMT yester-
day, when South Korean officials
at the border received a call from
the North, the South’s unification
ministry said in a text message.
Officials on both sides were
checking the line and conducting
a conversation for about 20 min-
utes, the contents of which were
not disclosed by the ministry.
That gesture came only hours af-
At least 21 people have been
killed during the unrest, including
two members of the security forces.
More than 450 protesters have
been arrested in the capital Tehran
in recent days, and hundreds of
others were detained around the
country, according to officials. A
judicial official said some could
face the death penalty.
“The seditionist rioters should
be executed,” marchers chanted
yesterday, while posters they car-
ried said hostile “hidden hands”
guided from the US, Israel and the
UK should be cut off.
In at attempt to control the flow
of information and calls for an-
T HU R SDAY JAN UARY 4, 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY
ter Trump, who has mocked Kim as
“Little Rocket Man”, again ridiculed
the North Korean leader on Twitter.
“Will someone from his depleted
and food starved regime please in-
form him that I too have a nuclear
button, but it is a much bigger and
more powerful one than his, and
my button works!” Trump tweeted.
While appearing to open the door
to discussing taking part in the Win-
ter Olympics, Kim also warned that
he would push ahead with “mass
producing” nuclear warheads in de-
fiance of UN sanctions. — Reuters
ti-government gatherings, Tehran
authorities have restricted access
to the Telegram messaging app and
Instagram, owned by Facebook Inc.
High prices, alleged corruption
and mismanagement are fuelling
the anger.
President Hassan Rouhani
championed a deal struck with
world powers in 2015 to curb Iran’s
nuclear programme in return for
the lifting of most international
sanctions.
However, he has failed to de-
liver on promises of prosperity in
the Opec oil producer where youth
unemployment reached 28.8% last
year. — Reuters
IN BRIEF
Suicide victim video by
YouTube star sparks
anger in Japan
TOKYO: Japanese social media
reacted with a storm of out-
rage to a video by YouTube star
Logan Paul showing a suicide
victim in a forest near Mount
Fuji, as anger spread over the
now-deleted video yesterday.
Angry comments flooded Twit-
ter after Paul, who gained no-
toriety on social media and has
a popular video blog or “vlog”,
apologised for the footage,
which was reportedly viewed
six million times. The video
shows the 23-year-old discov-
ering a body in Aokigahara, a
dense woodland at the foot
of Mount Fuji known as “the
Japanese Suicide Forest”, in a
country that has long strug-
gled with some of the highest
suicide rates in the developed
world. As news of the video and
apology was reported in Japan
yesterday, social media erupted
with indignation over the film,
which showed a man who had
hanged himself. — AFP
Taiwanese ordered to pay
mother for raising him
TAIPEI: Taiwan’s top court
has ordered a dentist to pay
his mother around NT$22.33
million (RM2.99 million) as
reimbursement for the money
she spent raising and educat-
ing him. The supreme court
on Tuesday upheld a previ-
ous ruling that the 41-year-old,
identified by his family name
Chu, should honour a contract
he signed with his mother 20
years ago promising to refund
her. The plaintiff, surnamed
Lo, divorced her husband in
1990 and raised their two sons
on her own. Worried that no-
body would look after her when
she got old, Lo signed the con-
tracts with her sons after they
both turned 20, stipulating that
they must pay her 60% of the
net profit from their incomes.
— AFP
Peru bus plunge kills 48
— officials
LIMA: A bus plunged over a
seaside cliff in Peru on Tues-
day, killing at least 48 people
after a collision with a truck on
a precarious stretch known as
the “devil’s curve”, officials said.
The bus was travelling from
Huacho, 130km north of the
capital, to Lima with 55 pas-
sengers and two crew on board
when it went off the road about
midday. It plunged 100m and
landed upside down on rocks
at the edge of the sea. — AFP
Two children die in
Vietnam explosion
BAC NINH (Vietnam): A baby
boy and a five-year-old girl
were killed in an explosion east
of Vietnam’s capital Hanoi early
yesterday that destroyed sever-
al houses and wounded at least
eight other people. Authorities
are investigating the cause of
the blast in the Bac Ninh prov-
ince’s Yen Phong district, which
occurred at 4.30am demolish-
ing buildings. — AFP
THU R S DAY JA N UA RY 4 , 20 1 8 • T HE ED G E FINA NCIA L DA ILY
Time for Jack Ma to step up
Alibaba founder needs to prove he is serious about coming to the US
BY T I M C UL PA N
I
guess a handshake with US
president-to-be was not a
help after all.
A year after Chinese bil-
lionaire Jack Ma met with
then US President-elect Don-
ald Trump, the founder of Aliba-
ba Group Holding Ltd has finally
given up on his bid to buy Money-
Gram International Inc for US$18
(RM72.36) per share.
The Committee on Foreign In-
vestment (CFIUS) in the US dragged
its feet on giving the thumbs-up to
Ant Financial’s takeover, but bear in
mind it is not their call. An actual
decision is made by the president,
based on the recommendation of
CFIUS. Trump has shown a willing-
ness to ignore advice in the past, so
Ma was probably hoping that trend
would continue.
Trump himself played up the
prospect of Alibaba creating a mil-
lion of US jobs, the kind of “guanxi”
Ma figured should garner some
Criminal world is dropping bitcoin for another currency
BY O LG A K HA RI F
BITCOIN is losing its lustre with
some of its earliest and most avid
fans — criminals — giving rise to
a new breed of virtual currency.
Privacy coins such as monero,
designed to avoid tracking, have
climbed faster over the past two
months as law enforcers adopt
software tools to monitor people
using bitcoin. A slew of analyt-
ic firms such as Chainalysis are
getting better at flagging digital
hoards linked to crime or money
laundering, alerting exchanges and
preventing conversion into tradi-
tional cash.
The European Union’s law en-
forcement agency, Europol, raised
alarms three months ago, writing
in a report that “other cryptocur-
rencies such as monero, ethereum
and Zcash are gaining popularity
within the digital underground”.
Online extortionists, who use ran-
somware to lock victims’ comput-
ers until they fork over a payment,
have begun demanding those cur-
rencies instead. On Dec 18, hackers
attacked up to 190,000 WordPress
sites per hour to get them to pro-
duce monero, according to security
company Wordfence.
For ransomware attacks, monero
is now “one of the favourites, if not
the favourite”, Matt Suiche, founder
of Dubai-based security firm Co-
mae Technologies, said in a phone
interview (see chart).
Monero quadrupled in value to
favours in Washington. In truth,
that one million jobs figure was
the result of some very creative
mathematics by Alibaba.
By September, I was predicting
the transaction would fail, and that
Ma should give up. What he should
have been doing over the past few
months was preparing a Plan B.
And do not be surprised if such an
US$349 (RM1,402.98) in the final
two months of 2017, according
to coinmarketcap.com, placing it
among a number of upstart coins
that rose faster than bitcoin, the
world’s most valuable digital cur-
rency. Bitcoin roughly doubled in
the same period, data compiled by
Bloomberg show. Monero’s price
has climbed another 7% so far
this year, according to coinmar-
ketcap.com.
In monero’s case, criminals are
snapping it up because bitcoin’s
underlying technology can work
against them. Called blockchain,
the digital ledger meticulously re-
cords which addresses send and
alternative does get announced.
Ma wanted MoneyGram to help
connect consumer markets in the
US and China. Now, instead of a
takeover, the two plan to “explore
and develop initiatives to bring
together capabilities in remittance
and digital payments to provide
respective customers with us-
er-friendly, rapid-response, and
receive transactions, including the
exact time and amount — great
data to use as evidence. Match
an address to a crime and then
watch the bitcoin universe care-
fully, and you can see the funds
disappear and reappear in other
locations.
Started in 2014, monero is very
different. It encrypts the recipient’s
address on its blockchain and gen-
erates fake addresses to obscure
the real sender. It also obscures the
amount of the transaction.
The techniques are so potent
that software that flags coins sus-
pected of being obtained through
crime now tags just about anything
low-cost money transfer services”.
Frankly, that sounds like a
placeholder comment whipped up
by a committee of public relations
executives. It is buzzword-heavy
and meaningless. But since Ant
is a private company, it does not
have to worry about keeping share-
holders happy.
MoneyGram, on the other hand,
converted into or out of monero as
high risk, according to Pawel Kus-
kowski, chief executive officer of
Coinfirm, which helps exchanges
and other companies avoid tainted
money. That compares with only
about 10% of bitcoin, he said.
“What we treat ‘high risk’ is
something that’s anonymising
funds,” he said in a phone inter-
view. “How are you going to prove
that these funds are not coming
from illegal sources?”
Monero is one of many priva-
cy-focused coins, each offering dif-
ferent security features. Its main
competitor, Zcash — which is not
known to have a significant criminal
F E AT U R E 2 1
might want to hope that Euronet
Worldwide Inc follows through on
its marriage proposal. The Lea-
wood, Kansas-based rival hinted as
much just hours after the Ant-Mon-
eyGram announcement.
I do not think that this “explore
and develop” proposal with Mon-
eyGram is the Plan B Ma needs to
make it in the US payments indus-
try. He would do better building out
the business himself. Spreading
Alipay to US stores is a good first
step, but that merely caters to Chi-
nese shoppers (see chart).
A locally built payments plat-
form with its own brand and US
leadership may be a better bet. Ma
could model it on Alipay if he wants,
but he would do well to make it for
Americans, by Americans. To date,
Alibaba’s forays in the West have
gone nowhere and I don’t think
the company has really tried that
hard despite all the public pro-
nouncements.
With the failure of this deal, it is
time for Ma to show the grit he is
renowned for, and prove he’s really
serious about coming to America.
— Bloomberg
following — can offer even better
privacy protection. Instead of cre-
ating fake addresses to hide send-
ers, it encrypts their true address.
That makes it impossible to identify
senders by looking for correlations
in addresses used in multiple trans-
actions to pinpoint the real one — a
vulnerability for monero. Develop-
ers of the coin have made progress
in reducing it, though.
Still, Princeton University re-
searchers recently developed a
tool that helps them analyse Zcash
transactions at least to some extent
— but they have not been able to
crack monero. And Zcash high-se-
curity features cannot be used on
disposable burner phones, a fa-
vourite of criminals eager to stay
anonymous.
Developers behind monero say
they simply create a coin that pro-
tects privacy. Most people use it le-
gitimately — they just do not want
others to know whether they are
buying a coffee or a car, Riccardo
Spagni, core developer at monero,
said in a phone interview.
Yet criminals are probably only
a fraction of monero’s users, ac-
cording to Lucas Nuzzi, a senior
analyst at Digital Asset Research,
which provides research to insti-
tutional investors.
“As with any disruptive technol-
ogy, many of the initial use cases
revolve around illicit activities,” he
wrote in an email. But as everyday
people grow concerned about pri-
vacy and surveillance, “there is
utility in these currencies that go
beyond just a means of exchange
for illicit goods”. — Bloomberg
22
live it!
WELLBEING . THE ARTS . WINE+DINE . STYLE+DESIGN . LEISURE
Personal
ASSISTANT
CO M PI L ED BY CL A RI ECE LEONG
WORK. LIFE. BALANCE
WITNESS two indie music acts at The Gas-
light tonight. Founded in Kuala Lumpur in
2013, the quartet Lukarts chose to be differ-
ent and paved their own way into the modern
pop scene. Sharing the night is alternative
indie duo Shuuna, originating from Sungai
Petani and Shah Alam, who released their
first EP last year and are currently working
on their first album. The two bands kick off
the night at 9pm tonight, at The Gaslight KL
in Plaza Damansara, Jalan Medan Setia 1,
Bukit Damansara, Kuala Lumpur. The cover
charge is RM20, which includes a free drink.
For more information, call (03) 2011 4047 or
email sydjohann@gmail.com.
GOOD food is the
way to start off a
good year, so take
your family, friends
or significant oth-
er out for dinner at
Koyaku Japanese
Dining and Grill. For
just RM160, indulge
in fresh, live oysters
all the way from the
US, complemented
with a free flow of hot or cold sake. The
Sake and Oyster Fest takes place from 6pm
to 9.30pm tonight. Koyaku Japanese Dining
and Grill is located on the ground floor of
the Podium Block, Faber Tower, Jalan Desa
Bahagia, Taman Desa, Kuala Lumpur. For
further details, call (03) 7984 4688.
LAUGH for a good cause with The Laughing
Gas. The stand-up comedy open mic show
dedicates its 23rd episode, Gives Back, to
charity, donating the proceeds of their show
to Meals For All in an effort to help provide
meals for the underprivileged. Look out for
Kavin Jayaram and Papi Zak, who have worked
together on Red FM, as well as a line-up of
amateur comics. The show starts at 8.30pm
tonight, at Morningwood Café, Jalan SS15/8,
SS15, Subang Jaya, Selangor. Tickets are priced
at RM10 and can be purchased at the door,
or by emailing gasketawa@gmail.com. For
more information on the charity cause Meals
For All, email ramesh.vadiveloo@gmail.com.
T HU R SDAY JAN UARY 4, 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY
DESIGN-DRIVEN
Six unmissable
exhibitions in 2018
J
ewellery by artists, reminders
of the Soviet era, and a history
of the nightclub — just some of
the exhibitions that design lovers
won’t want to miss in 2018.
From Calder to Koons, Jewelry
by Artists, Diane Venet’s Perfect
Collection
March 7 to July 8
Musée des Arts Décoratifs, Paris
www.lesartsdecoratifs.fr
Diane Venet has collected jewellery by
artists for over 30 years, and will exhibit
her 230-piece collection at this show in A brooch by Orlan. Part of ‘From Calder to
Paris, alongside other jewellery loaned by Koons, Jewelry by Artists, Diane Venet’s
galleries, collectors and the families of art- Perfect Collection’, from March 7 to July 8,
ists. Organised in chronological order and 2018 at the Musée des Arts Décoratifs, Paris.
by theme, jewellery created by 150 artists,
including Niki de Saint Phalle, Salvador
Dali and Pablo Picasso, will be on display. ing from post-war USSR until the Olympic Surrealist spoon-brooch with watch-comb by
Games of 1980, through a collection of Salvador Dalí. Part of ‘From Calder to Koons,
Night Fever. Designing Club Culture daily objects and graphics, which speak Jewelry by Artists, Diane Venet’s Perfect
1960-Today volumes about life in the Soviet Union Collection’, from March 7 to July 8, 2018 at the
March 17 to Sept 9 at that time. Each section represents a Musée des Arts Décoratifs, Paris.
Vitra Design Museum, Weil am Rhein different aspect of Soviet life and cul-
www.design-museum.de ture: childhood and leisure, sports and
Nightclubs and discos are hotbeds of public events, furniture and household jects that demonstrate the power of de-
contemporary culture, and they were products, even precision engineering and sign in shaping the world of tomorrow.
there at the birth of avant-garde move- industrial production.
ments that questioned the established Kwab. Dutch Design in the Age of
codes of social life. These extraordinary Peter Ghyczy: 50 years of Rembrandt
places merge design, graphics and art functionalism June 29 to Sept 26
with sound, light, fashion and special Feb 7 to March 11 Rijksmuseum, Amsterdam
effects. The Vitra Design Museum’s exhi- Brussels Design Museum https://www.rijksmuseum.nl
bition examines the role of design in the www.adamuseum.be In the 17th century, fantasy sea creatures,
history of the nightclub. It features films, The Brussels Design Museum — known scary monsters and strange body shapes
vintage photos, posters, flyers, fashion, as the ADAM — is also staging the very reminiscent of molten candle wax deco-
music and light installations to take vis- first exhibition dedicated to the designerrated jugs, furniture, and smart interiors.
itors on a journey to a world of glamour Peter Ghyczy. He is probably best known This trend was known as the auricular style.
and subculture. for his Garden Egg Chair designed in 1968.
It was a Dutch decorative arts movement
which won over the rest of Europe, particu-
Soviet Design. Red Wealth The Future Starts Here larly Germany and France, and can even
Jan 24 to May 21 From May 12 be seen in some of Rembrandt’s works.
Brussels Design Museum Victoria & Albert Museum, London This exhibition at the Rijksmuseum fea-
www.adamuseum.be www.vam.ac.uk/ tures the auricular style in over a hundred
This exhibition takes us back in time, start- The V&A has put together a hundred ob- works of art from the Golden Age. — AFP
‘Night Fever. Designing Club Culture 1960-Today’, ‘Soviet Design. Red Wealth’, from Jan 24 to ‘Peter Ghyczy: 50 Years of Functionalism’
from March 17 to Sept 9, 2018 at the Vitra Design May 21, 2018 at the Brussels Design Museum. from Feb 7 to March 11, 2018 at the Brussels
Museum in Weil am Rhein, Germany. Design Museum.
 live it! 23
THU R S DAY JA N UA RY 4 , 20 1 8 • T HEED G E FINA NCIA L DA ILY

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

CARS BY RI CHARD TENG

A debonair Renault Koleos 4WD SUV

IT was exactly a year ago when I laid my
hands on the Renault Koleos sport utility
vehicle (SUV) and it was an invigorating
test drive in a good-looking premium
SUV. A year later, it is still as gallant;
however, the new variant is a four-wheel
drive (4WD) with a power tailgate which
you can swipe your foot under the rear
bumper to open.
Driving it
It was fun spending a few days with this
new 4WD Koleos. A grocery trip to the
neighbourhood supermarket saw a family
of five, about to get into their car a few
parking lots away, talking about and ad-
miring the Koleos. The words “beautiful
front”, “stylish rear” and “this SUV looks
really nice and elegant” were audible and
these descriptions will undoubtedly put
a smile on the Renault designers’ faces.
On the Karak highway, I took the car
to Genting Highlands for a quick two-day
family trip. The spacious luggage space
(542 litres and 1,690 litres with the rear
seats folded down) was exactly what we
needed, comfortably fitting our group of
five who brought along much luggage.
The driver and passengers enjoyed the
drive and the ample cabin space.
It was a good ride up to the highlands,
and likewise the descent. The auto 4WD
mode was a nice feature during the drive, The 4WD Koleos has a power tailgate which you can swipe your foot under the rear bumper to open.
providing top-notch intervention behind
the scenes to ensure the car stayed on
course whenever I strayed off the roads.
The X-tronic Continuously Variable pastime of hardcore off-roading may not The rest of the cabin area augments the with those by its Japanese and Korean
Transmission gearbox worked very well be their cup of tea. The only let down dur- overall premium set-up of the Koleos. To competitors.
too, but I could still very much feel a ing my driving experience was the rather further enhance it, I would recommend The Renault Koleos 2.5L 4WD is sold
whirring and the typical continuously shoddy tyres — they were noisy and had having powered seats for the front pas- at RM201,800, about 10% higher than the
variable transmission’s “rubber band less-than-ideal grip. senger — this would be ideal compared 2WD variant.
effect”. Together with the 2.5 QR25 DE with the current set-up where only the
engine (170PS) and the auto 4WD mode, The interior driver enjoys electric seat adjustments.
the behemoth Renault Koleos SUV makes The premium-style interior is highly iden- For more exclusivity, a panoramic roof Richard Teng (rtengh@gmail.com) is a re-
a pleasant, friendly drive. tical to the 2WD variant and the showpiece or at least a sun roof would be much formed boy racer who grew up down south.
I managed to briefly take it off-road is still the large 8.7 inch-link two tablet, por- welcomed. His motoring philosophy is “power is noth-
to test its 4WD qualities as well as the trait-style touchscreen control — easy to use ing without control”. He spent his younger
differential lock mode, which worked and works very well too. Currently, Renault To sum it up days studying and repairing 4x4s and of-
seamlessly while providing excellent trac- is only one of three manufacturers to fea- The Renault Koleos 4WD is a good option froad motorcycles, and was an avid fan of
tion during my journey on dry mud and ture this large tablet-style control in their in the crowded SUV segment. It looks deb- heavily souped-up racing cars.
sand surfaces. It was easy and fun driving production vehicles. The German, Japanese onair, imposing and stylish, complete with
along the two-kilometre dirt track, one and Korean rivals have yet to have it. To me, a premium continental-style cabin and For more information on the new Renault
that was not exactly challenging though. this makes the SUV unique. It also provides a top-notch drive experience. It justifies Koleos, visit www.renault.com.my or www.
For potential buyers of this car, the a nice premium touch to the whole package. the slightly higher price tag compared facebook.com/RenaultMalaysia.

The differential lock mode works seamlessly while providing excellent traction while moving on dry mud The showpiece is the large 8.7 inch-link two tablet, portrait-style touchscreen control — easy to use
and sand surfaces. and works very well.
2 4 S P O RT S
South Korea is ‘well prepared’
Host says it is ready if North takes part in Pyeongchang Winter Olympics
SEOUL: Host South Korea is well
prepared should North Korea de-
cide to take part in the Pyeong-
chang Winter Olympics, with a
cruise ship ready to transport and
accommodate its athletes, organ-
isers said yesterday.
Lee Hee-beom, head of the 2018
Olympic organising committee,
said they had long been preparing
for the North’s attendance at what
he described as the “largest-ever
Confident Spieth
ready to be ‘the
man’ in 2018
BY A N D REW B OTH
CARY: Jordan Spieth’s victory in
last year’s British Open had boost-
ed his self-belief, convinced him
to ignore any critical naysayers
and gave him the confidence to
become “the man” in golf in 2018,
even if Tiger Woods was planning
a comeback. The 24-year-old Spi-
eth, who clinched his third major
title at Royal Birkdale, recognised
that he was now under a relentless
spotlight, but the three-shot win
over fellow American Matt Kuchar
had helped release that pressure.
“The Open Championship just
did wonders for me, individually,
not only my view of myself but
being the man in the arena,” the
world No 2 told reporters in Ha-
waii ahead of today’s first round
at the Tournament of Champions.
“I’m the one out there putting
it on the line every week. I’m go-
ing to fail and learn; I’m going to
succeed. But I’m the one in the
arena.” — Reuters
Philippines
tightens criteria
for 2018 Asian
Games hopefuls
MANILA: Filipino athletes eyeing
a spot at the 2018 Asian Games
may have their work cut out ahead
of this year’s regional Olympics
in Indonesia after officials said
only medal holders need to apply.
The Southeast Asian nation,
which is known as a chronic
underachiever in internation-
al sporting competitions, made
the announcement yesterday as
it looks to boost the number of
accolades it brings home.
Camacho said only those who
won a medal at the 2014 Asian
Games or a gold or silver at the
2017 Southeast Asian Games
would be eligible for the 2018
event. Medallists at regional-level
tournaments or athletes who equal
or surpass Asian records will also
be considered, he added. — AFP
winter festival in history”.
“We’re making preparations in
case North Korea sends not only
its athletes but a cheering squad
and support staff as well,” Lee said.
“The International Olympic
Committee has also said several
times that it would support North
Korea’s participation,” Lee added.
North Korean leader Kim Jong-
un said in a new-year speech that
his country wished success for the
Aguero (third from right) scoring City’s third goal of the Premier League match between City and Watford at the Etihad Stadium in
Manchester, the UK, on Tuesday. Photo by Reuters
Quick-fire City back in the
groove, Llorente fires Spurs
BY STEV EN GRIFF IT HS
LONDON: Raheem Sterling scored
the fastest goal of the Premier
League season as leader Manches-
ter City got back on track with a 3-1
win against Watford on Tuesday,
while Fernando Llorente put Tot-
tenham on course for a 2-0 victory
at his former club Swansea.
Sterling struck after just 38 sec-
onds before Christian Kabasele’s
first-half own goal put Pep Guar-
diola’s side in control at Eastlands.
Sergio Aguero made it three as
City gave the perfect response after
its 18-game winning run was ended
in a goalless draw at Crystal Palace
on Sunday.
Unbeaten City is 15 points clear
of second-placed Manchester
United as it continues to turn the
title race into a lengthy corona-
tion party.
Guardiola had complained that
the hectic festive fixture schedule
was a “disaster” after City striker
Gabriel Jesus suffered a knee-lig-
ament injury at Palace.
But Guardiola was able to re-
place the Brazilian with Sergio
Aguero, while David Silva returned
from a two-game absence.
City, playing its fourth match in
11 days, was ahead inside a minute
as Sterling met Leroy Sane’s cross
with a near-post finish for his 18th
goal this season.
Olympics, to be held from Feb 9 to
25, and would consider sending a
delegation.
Seoul and organisers have billed
the Winter Games as a “peace
Olympics” and have been keen
for the North to take part.
But the main venues are just
80km from the heavily fortified
border and the build-up to the
event has been overshadowed by
high tensions over the North’s nu-
Having won 6-0 at Watford in
September, City looked on course
for another rout in the 13th minute
when Watford’s Kabasele sliced an
attempted clearance into his own
net from Kevin De Bruyne’s cross.
Yet they had to wait 50 minutes
to score again as Argentine forward
Aguero netted from close range for
his 16th goal of the season.
Andre Gray’s 82nd-minute goal
for Watford came way too late to
avoid a sixth defeat in its last seven
league matches.
“We played really well. After
dropping two points, we spoke
about our reaction because big
teams drop points but not too
much,” Guardiola said.
With Harry Kane only fit enough
for a place on the bench after
illness, former Swansea striker Llor-
ente made his first league start for
Tottenham at the rain-lashed Lib-
erty Stadium.
Llorente marked the occasion
with a 12th-minute goal, the Span-
iard powering home a header from
Christian Eriksen’s free kick despite
Swansea’s appeals for offside.
Puddles all over the pitch made
it hard for Tottenham to establish
its smooth-passing game and Kane,
who finished 2017 with consecutive
hat-tricks, was sent on for Llorente
after 68 minutes.
Kane made his presence felt with
a perfect pass to Dele Alli and the
T HU R SDAY JAN UARY 4, 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY
clear and missile tests.
Governor Choi Moon-soon of
the Gangwon province, where the
event is sited, has said the province
is willing to send a cruise ship to
the North to take its delegation to
the South’s port of Sokcho near the
Olympic venues.
Choi said he had made the of-
fer to a North Korean official, who
reacted positively and promised
to convey it to leader Kim. — AFP
Tottenham midfielder finished at
the second attempt to wrap up the
points in the 89th minute.
Tottenham moves above Arsenal
into fifth place and sits four points
behind fourth-placed Liverpool
with a game in hand.
Andy Carroll’s stoppage-time
strike sealed a vital 2-1 win for West
Ham against second-bottom West
Bromwich Albion at the London
Stadium.
West Brom is winless in 20 top-
flight fixtures — only three clubs
have endured longer runs without
a victory in the Premier League:
Derby with 32, Sunderland with
26, and Norwich with 21.
Crystal Palace came from behind
to win 2-1 at Southampton, thanks
to Luka Milivojevic’s late goal.
Palace fell behind in the 17th
minute as Saints striker Shane Long
scored for the first time since Feb-
ruary last year.
Long’s fine finish raced into the
top corner from Jeremy Pied’s cross.
But Palace equalised in the 69th
minute when Scotland midfielder
James McArthur volleyed home
from Christian Benteke’s header.
And Serbia midfielder Milivo-
jevic redeemed himself for miss-
ing a last-minute penalty against
Manchester City at the weekend
as his long-range curler in the 80th
minute lifted Palace away from the
relegation zone. — AFP
IN BRIEF
Arsenal manager
Wenger claims referees
are stuck in 1950s
LONDON: Arsenal manager Ar-
sene Wenger has slammed Pre-
mier League referees by claim-
ing they are stuck in the 1950s.
Wenger pointedly said Mike
Dean “saw what he wanted to
see” at the Hawthorns stadium,
where a controversial late pen-
alty was conceded by Arsenal’s
Calum Chambers in Sunday’s
draw at West Bromwich Albion,
and believes referees in England
need to sharpen up. “That is not
the rhythm of a modern society.
People want crisp, sharp action,
and the referee has to make sure
that that happens,” said Wenger.
“This is the 1950s, where the
guy talks to him — ‘If you’re not
nice, I might punish you’. Come
on, let’s not waste time.” — AFP
Svitolina smashes Konjuh
to reach quarter-finals
in Brisbane
BRISBANE: Ukraine’s Elina Svi-
tolina continued her impressive
start to the season when she de-
molished Croatian Ana Konjuh
6-3, 6-1 in the second round
of the Brisbane International
yesterday. Svitolina took just
64 minutes to see off Konjuh at
the Pat Rafter Arena and book
an enticing quarter-final show-
down with Britain’s Johanna
Konta. The 23-year-old Svitolina
started the week as world No 6
but would finish it as No 4 if she
wins the tournament. She won
five tournaments in 2017 and
goes into the Australian Open
as a serious contender for the
year’s first Grand Slam. — AFP
Whistle-blower free to
pass evidence to Fifa
PARIS: Whistle-blower Grig-
ory Rodchenkov, who says he
has information on doping in
Russian football, is now free
from legal restraints and can
give evidence to Fifa, the World
Anti-Doping Agency (Wada)
told AFP on Tuesday. “The fact
is that Dr Rodchenkov has only
recently become available to
testify in legal proceedings be-
ing undertaken by IFs (interna-
tional federations), which he
was unable to do previously due
to restrictions put in place by US
law enforcement as a result of
an ongoing investigation in the
United States,” a Wada spokes-
person explained. — AFP
Ferrari pays tribute as
Schumacher turns 49
MILAN: Italian Formula One
(F1) team Ferrari paid tribute to
Michael Schumacher yesterday
as the former seven-time world
champion turned 49 years. “To-
day (yesterday) Michael turns
49; our thoughts are always with
him. #Keepfighting #ForzaMi-
chael,” the Italian stable wrote
on its Twitter account, Scuder-
ia Ferrari. The retired German
racing ace, widely regarded as
one of the greatest F1 drivers
ever, suffered catastrophic brain
injuries in a skiing accident in
2013 and has been receiving
care at his home in Switzerland
since. — AFP
THU R S DAY JA N UA RY 4 , 20 1 8 • T HEED 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 0.065 0.345 0.320 9954 AKNIGHT 0.340 -0.020 38.6 0.324 — — 19.8
Sectorial Movement 1.694 0.850 0.915 0.850 2674 ALCOM 0.905 0.055 484.9 0.890 7.83 22.65 121.6
1.070 0.320 0.590 0.550 4758 ANCOM 0.585 0.045 2883.8 0.574 7.04 — 128.1
INDICES CLOSE +/- %CHG INDICES CLOSE +/- %CHG 3.980 2.046 3.930 3.870 6556 ANNJOO 3.900 UNCH 571.5 3.902 10.02 2.69 2,099.5
0.551 0.075 0.095 0.085 9342 ANZO 0.090 UNCH 25572.1 0.093 150.00 — 79.3
KLSE COMPOSITE 1,792.79 10.09 0.57 TECHNOLOGY 42.57 0.48 1.14
1.160 0.855 0.945 0.945 5568 APB 0.945 UNCH 35 0.945 27.96 6.88 106.7
KLSE INDUSTRIAL 3,309.16 39.64 1.21 FTSE BURSA 100 12,588.46 100.05 0.80 4.090 3.272 3.700 3.640 5015 APM 3.670 0.020 71.9 3.682 17.34 3.95 739.9
CONSUMER PRODUCT 643.14 4.31 0.67 FTSE BURSA MID 70 16,061.02 225.75 1.43 1.194 0.865 0.910 0.880 7214 ARANK 0.910 0.035 469.6 0.896 7.34 3.57 109.2
1.290 0.676 1.010 0.990 7162 ASTINO 1.010 UNCH 2037.8 0.999 7.19 0.99 276.9
INDUSTRIAL PRODUCT 177.62 1.13 0.64 FTSE BURSA SMALL CAP 17,274.47 149.00 0.87
1.185 0.483 0.975 0.930 7099 ATTA 0.935 0.020 1957.7 0.952 3.95 8.45 142.9
CONSTRUCTION 315.21 5.64 1.82 FTSE BURSA FLEDGLING 18,916.37 270.73 1.45 0.625 0.230 — — 7181 ATURMJU 0.235 — — — — — 14.4
TRADE & SERVICES 235.21 1.82 0.78 FTSE BURSA EMAS 12,930.37 103.41 0.81 2.522 1.710 1.810 1.740 8133 BHIC 1.810 0.060 35.1 1.763 5.03 2.76 449.7
0.570 0.350 0.390 0.360 7005 BIG 0.385 -0.010 43.1 0.372 — — 18.5
KLSE FINANCIAL 16,924.57 112.97 0.67 FTSE BUR M’SIA ACE 6,830.20 118.17 1.76
0.580 0.110 0.495 0.475 7187 BKOON 0.485 0.005 175.1 0.480 151.56 — 139.0
KLSE PROPERTY 1,228.69 23.64 1.96 FTSE BUR EMAS SHARIAH 13,293.95 120.36 0.91 1.091 0.742 0.820 0.815 0168 BOILERM 0.815 UNCH 168.3 0.816 18.78 1.84 420.5
KLSE PLANTATION 7,944.19 29.81 0.38 FTSE BUR HIJRAH SHARIAH 14,472.84 137.00 0.96 2.163 1.200 1.230 1.220 6297 BOXPAK 1.220 -0.030 10.6 1.223 — — 146.5
1.531 1.080 1.120 1.110 5100 BPPLAS 1.110 UNCH 23 1.118 15.59 7.21 208.3
KLSE MINING 575.50 Unch Unch FTSE/ASEAN 40 11,670.99 119.89 1.04
0.316 0.237 0.260 0.255 9938 BRIGHT 0.255 UNCH 306.4 0.257 — — 52.4
0.800 0.285 0.770 0.740 7221 BSLCORP 0.770 0.065 214.6 0.752 22.06 — 75.5
0.365 0.230 0.250 0.245 7188 BTM 0.245 UNCH 180 0.245 45.37 — 31.5
3.489 2.660 2.860 2.850 5105 CANONE 2.860 -0.040 71 2.859 7.76 1.40 549.6
0.035 0.005 — — 5229 CAP 0.010 — — — — — 13.6
2.168 1.730 1.800 1.780 7076 CBIP 1.790 0.030 114.4 1.791 9.81 3.35 963.5

Bursa Malaysia Main Market 2.134 1.005 1.870

1.750 1.380
1.240 1.020
—
—
1.840
—
—
2879
8435
8044
CCM
CEPCO
CFM
1.850
1.460
1.130
-0.010
—
—
3311.2
—
—
1.853
—
—
37.53
—
—
8.11
—
—
310.2
65.4
46.3
1.896 1.471 1.820 1.790 5007 CHINWEL 1.790 UNCH 87.4 1.811 10.26 3.80 536.2
YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP 2.600 1.594 2.600 2.510 5797 CHOOBEE 2.590 0.090 709.2 2.569 7.94 2.32 284.6
HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL) 1.150 0.940 — — 8052 CICB 1.030 — — — 24.58 — 51.5
CONSUMER PRODUCTS 0.075 0.040 0.045 0.045 7018 CME 0.045 UNCH 1647.1 0.045 — — 21.8
0.725 0.380 0.475 0.460 7120 ACOSTEC 0.475 0.010 216.4 0.466 — — 84.5 4.628 3.300 3.860 3.800 2852 CMSB 3.850 UNCH 143 3.843 16.47 1.64 4,136.3
5.800 4.194 5.460 5.450 7090 AHEALTH 5.450 0.020 68.2 5.450 16.62 2.11 638.4 0.600 0.280 0.500 0.500 7986 CNASIA 0.500 0.005 4 0.500 0.97 — 22.7
24.759 12.716 21.380 21.180 2658 AJI 21.200 UNCH 13.2 21.207 6.90 1.98 1,288.9 1.507 1.141 1.290 1.280 5071 COASTAL 1.290 0.020 1771.7 1.290 13.89 1.55 685.8
0.390 0.220 0.365 0.315 7051 AMTEK 0.365 0.030 1.1 0.361 — — 18.2 1.150 0.670 0.745 0.730 7195 COMCORP 0.740 0.010 580.8 0.739 9.65 — 103.6
5.202 4.400 4.500 4.460 6432 APOLLO 4.480 0.050 34.8 4.490 23.24 5.58 358.4 1.220 0.645 1.190 1.140 2127 COMFORT 1.140 -0.040 4554.9 1.156 17.48 — 637.0
1.110 0.800 0.890 0.890 7722 ASIABRN 0.890 0.055 6.2 0.890 — — 70.4 2.156 1.470 1.590 1.560 5094 CSCSTEL 1.570 UNCH 342 1.576 11.33 6.37 596.6
3.459 2.880 2.960 2.900 7129 ASIAFLE 2.960 0.060 64.9 2.915 9.21 — 576.5 0.804 0.625 0.655 0.650 7157 CYL 0.650 0.010 15.1 0.653 52.00 6.15 65.0
48.735 34.060 38.440 37.720 4162 BAT 38.020 0.080 59.6 38.101 15.48 5.34 10,855.9 0.405 0.305 0.315 0.315 5082 CYMAO 0.315 0.005 9.9 0.315 — — 23.6
0.120 0.045 0.055 0.050 7243 BIOOSMO 0.055 UNCH 5481.5 0.051 — — 43.7 2.348 1.782 2.280 2.250 8125 DAIBOCI 2.280 UNCH 21.1 2.273 31.15 1.91 747.6
0.718 0.485 0.535 0.520 9288 BONIA 0.520 -0.005 943.9 0.525 16.88 2.40 419.3 1.660 0.405 1.480 1.450 8176 DENKO 1.480 0.030 102 1.475 — — 170.1
1.110 0.483 0.990 0.960 7174 CAB 0.975 0.010 2779.8 0.974 6.51 0.33 608.1 0.460 0.220 0.355 0.350 7114 DNONCE 0.350 -0.010 661.7 0.354 28.46 — 64.5
0.860 0.380 0.825 0.730 7154 CAELY 0.780 -0.045 4189.8 0.779 35.62 1.28 62.4 0.435 0.185 0.210 0.200 5835 DOLMITE 0.200 -0.010 56.2 0.201 — — 57.0
0.415 0.260 0.395 0.370 7128 CAMRES 0.380 0.005 1318.6 0.378 18.36 2.63 74.8 0.435 0.150 0.190 0.180 5265 DOLPHIN 0.185 -0.005 762.8 0.185 — — 45.2
16.000 13.190 15.200 15.100 2836 CARLSBG 15.180 UNCH 162.5 15.163 21.27 5.07 4,641.3 1.360 1.108 1.360 1.310 7169 DOMINAN 1.360 0.040 67.5 1.335 9.58 4.41 224.7
1.230 0.607 1.150 1.100 7035 CCK 1.140 0.040 1058.5 1.128 12.40 1.75 359.5 2.510 1.093 2.510 2.270 1619 DRBHCOM 2.300 0.040 69958.7 2.410 7.52 0.43 4,446.4
2.650 1.842 2.640 2.610 7148 CCMDBIO 2.640 0.020 2399.8 2.621 18.79 2.46 736.5 1.582 0.652 1.260 1.200 7233 DUFU 1.210 -0.020 1362.4 1.229 6.01 4.55 212.3
2.549 2.070 2.270 2.180 2828 CIHLDG 2.180 -0.020 10.5 2.206 10.69 3.67 353.2 0.866 0.640 0.680 0.670 8907 EG 0.675 0.005 816.2 0.676 6.27 — 179.8
0.145 0.020 0.145 0.125 5188 CNOUHUA 0.135 0.005 23364.9 0.136 — — 90.2 1.070 0.780 — — 9016 EKSONS 0.780 — — — — — 128.1
3.200 1.927 2.630 2.620 7205 COCOLND 2.630 0.010 10 2.627 14.91 5.89 601.7 0.870 0.535 0.790 0.750 7217 EMETALL 0.785 0.035 1440.5 0.774 7.90 3.18 147.8
1.906 1.600 1.670 1.650 7202 CSCENIC 1.670 0.030 74.9 1.657 16.40 5.99 201.2 0.885 0.385 — — 7773 EPMB 0.500 — — — — — 83.0
0.095 0.010 — — 5214 CSL 0.010 — — — 1.27 — 12.4 0.997 0.645 0.705 0.670 5101 EVERGRN 0.690 0.025 4755.7 0.690 11.79 2.90 584.0
0.773 0.481 0.530 0.515 9423 CWG 0.515 -0.020 121.7 0.519 3.39 2.91 65.0 1.530 1.060 1.530 1.520 2984 FACBIND 1.520 0.010 378.6 1.528 14.86 2.63 129.4
0.050 0.025 0.035 0.030 7179 DBE 0.035 0.005 77253.1 0.030 — — 93.7 2.862 2.236 2.630 2.600 7229 FAVCO 2.630 -0.020 736.5 2.612 8.02 5.70 582.3
1.040 0.807 0.995 0.980 7119 DEGEM 0.980 -0.060 8 0.986 12.27 2.55 131.3 0.780 0.537 0.610 0.605 0149 FIBON 0.605 0.005 17.5 0.606 12.50 1.82 59.3
62.000 51.497 61.000 60.500 3026 DLADY 60.500 -0.300 4.1 60.790 28.78 1.65 3,872.0 2.221 1.871 2.070 2.010 3107 FIMACOR 2.050 UNCH 82 2.049 17.86 6.10 502.8
0.110 0.060 0.090 0.085 7182 EKA 0.085 UNCH 1661.5 0.088 — — 26.5 1.870 1.220 1.250 1.240 5197 FLBHD 1.250 UNCH 228.5 1.248 6.82 — 129.0
0.360 0.220 0.240 0.235 9091 EMICO 0.240 0.005 279.1 0.238 — — 23.0 0.679 0.465 0.485 0.465 5277 FPGROUP 0.475 -0.005 1985 0.478 22.73 1.49 246.1
1.823 1.300 — — 7149 ENGKAH 1.310 — — — 77.51 4.58 92.7 1.510 1.310 — — 3611 GBH 1.480 — — — 77.08 — 276.2
0.270 0.150 0.160 0.160 7208 EURO 0.160 UNCH 75 0.160 — — 42.8 2.620 1.590 1.720 1.660 7197 GESHEN 1.660 -0.020 97.4 1.695 8.47 — 132.8
0.760 0.625 0.735 0.735 7094 EUROSP 0.735 0.010 1 0.735 58.80 — 32.6 0.085 0.040 0.050 0.045 5220 GLOTEC 0.045 -0.005 15293 0.046 — — 242.2
27.020 22.389 27.000 26.880 3689 F&N 26.960 0.100 358 26.923 30.54 2.13 9,888.3 0.695 0.185 0.215 0.195 7192 GOODWAY 0.215 0.030 116 0.206 — — 23.8
1.070 0.815 0.850 0.850 2755 FCW 0.850 UNCH 0.4 0.850 — 1.76 212.5 0.135 0.090 0.095 0.095 7096 GPA 0.095 0.005 294.8 0.095 — — 93.1
0.850 0.520 0.545 0.530 8605 FFHB 0.530 -0.005 140.1 0.534 12.41 2.26 57.8 0.425 0.260 0.275 0.275 5649 GPHAROS 0.275 0.010 70 0.275 — — 37.0
2.030 0.809 2.030 1.930 9172 FPI 1.940 0.020 2098.8 1.981 14.00 3.09 479.9 0.250 0.175 0.200 0.190 0136 GREENYB 0.200 UNCH 235.5 0.194 — 1.50 66.7
1.100 0.800 — — 7184 G3 0.830 — — — — — 342.4 1.005 0.630 0.695 0.695 3247 GUH 0.695 0.005 31 0.695 18.94 4.85 193.1
2.200 0.869 2.200 2.130 5102 GCB 2.160 0.020 368.6 2.165 16.91 1.16 1,037.1 1.180 0.250 0.945 0.915 5151 HALEX 0.945 0.025 36.9 0.930 — — 100.2
3.050 2.334 3.000 2.950 5606 GOLDIS 3.000 0.040 13.4 2.982 10.64 0.67 1,834.4 11.400 4.457 10.600 10.340 5168 HARTA 10.400 -0.260 996.9 10.454 46.85 0.96 17,190.2
0.135 0.030 0.105 0.090 5187 HBGLOB 0.100 0.005 1826.3 0.098 20.41 — 46.8 19.200 2.020 18.660 17.220 4324 HENGYUAN 17.400 -0.560 4954.8 17.848 5.59 — 5,220.0
19.500 14.938 19.200 19.000 3255 HEIM 19.200 0.160 273.9 19.073 20.64 5.99 5,800.3 1.727 1.130 1.200 1.150 5095 HEVEA 1.160 UNCH 2916.4 1.168 7.68 6.64 648.0
10.440 8.799 9.840 9.650 3301 HLIND 9.700 -0.050 71.2 9.684 24.89 3.61 3,180.7 1.136 0.800 0.810 0.805 3298 HEXZA 0.810 -0.005 105.5 0.809 — 6.17 162.3
1.008 0.900 0.910 0.900 5160 HOMERIZ 0.905 UNCH 349.7 0.904 8.78 3.54 271.5 0.450 0.280 0.425 0.415 5072 HIAPTEK 0.415 -0.005 6892.4 0.418 — — 547.7
0.380 0.240 0.380 0.375 7213 HOVID 0.375 UNCH 1298 0.375 — — 307.8 0.935 0.375 0.935 0.915 5199 HIBISCS 0.920 -0.005 25633.8 0.924 36.08 — 1,420.4
1.237 1.061 1.100 1.090 5024 HUPSENG 1.100 0.010 68.5 1.099 19.13 3.64 880.0 1.253 0.829 — — 7033 HIGHTEC 1.130 — — — 7.08 3.10 45.9
0.630 0.380 — — 8478 HWATAI 0.420 — — — 150.0 — 31.4 1.020 0.680 0.810 0.780 8443 HIL 0.800 0.010 85.4 0.793 15.90 1.56 267.2
4.760 1.756 1.980 1.950 5107 IQGROUP 1.950 -0.030 176.8 1.956 9.97 5.64 171.7 0.715 0.280 0.525 0.480 5165 HOKHENG 0.495 0.015 110.3 0.498 34.62 — 39.6
1.546 1.121 1.400 1.380 7152 JAYCORP 1.390 UNCH 180 1.388 7.59 7.91 190.8 0.480 0.020 0.480 0.415 2739 HUAAN 0.460 0.040 164430 0.449 — — 516.3
0.740 0.490 0.505 0.495 8931 JERASIA 0.505 0.005 96.7 0.496 14.03 — 41.4 2.869 2.100 2.130 2.100 5000 HUMEIND 2.110 -0.040 157.8 2.103 90.95 0.95 1,010.9
1.715 1.160 1.260 1.200 7167 JOHOTIN 1.230 0.030 928.5 1.228 8.86 2.75 381.9 0.085 0.045 0.080 0.070 9601 HWGB 0.075 0.010 44044.3 0.074 — — 74.9
2.501 1.200 1.300 1.270 5247 KAREX 1.280 -0.010 531.8 1.282 53.33 0.78 1,283.0 2.025 1.634 1.810 1.810 7222 IMASPRO 1.810 UNCH 1 1.810 33.64 1.93 144.8
3.800 2.900 2.990 2.940 7216 KAWAN 2.990 -0.020 17.1 2.971 35.30 0.63 1,075.0 0.300 0.140 0.155 0.150 7183 IRETEX 0.155 UNCH 77 0.151 — — 21.4
0.255 0.130 0.155 0.155 8303 KFM 0.155 UNCH 37 0.155 — — 10.6 0.085 0.050 0.060 0.055 7223 JADI 0.060 UNCH 3162.3 0.055 — — 56.5
0.920 0.700 0.735 0.705 6203 KHEESAN 0.735 UNCH 167 0.720 24.10 1.36 76.4 0.175 0.135 0.135 0.135 8648 JASKITA 0.135 UNCH 352 0.135 — 7.41 60.7
2.550 2.020 2.020 2.020 7062 KHIND 2.020 UNCH 2 2.020 36.53 0.50 80.9 1.120 0.920 1.080 1.010 7043 JMR 1.080 0.060 61.1 1.021 192.86 2.78 136.9
2.184 1.022 1.680 1.680 0002 KOTRA 1.680 -0.120 1 1.680 15.29 2.38 224.4 1.715 1.160 1.260 1.200 7167 JOHOTIN 1.230 0.030 928.5 1.228 8.86 2.75 381.9
0.140 0.050 0.110 0.100 5172 KSTAR 0.110 0.010 7595.3 0.103 — — 32.2 0.310 0.180 0.240 0.235 0054 KARYON 0.240 0.005 1414.6 0.236 21.82 1.25 114.2
5.839 4.000 4.330 4.260 7006 LATITUD 4.320 -0.020 37 4.299 6.62 2.78 419.9 0.772 0.565 — — 7199 KEINHIN 0.570 — — — 10.94 2.39 62.1
1.090 0.785 0.970 0.960 9385 LAYHONG 0.970 UNCH 2613.1 0.970 19.09 0.52 590.5 0.500 0.300 0.380 0.355 6211 KIALIM 0.375 0.020 98.5 0.362 — — 23.2
0.395 0.266 0.375 0.370 8079 LEESK 0.375 0.005 535.6 0.371 12.25 2.67 62.9 3.080 2.860 2.990 2.970 3522 KIANJOO 2.990 UNCH 12 2.981 19.11 1.34 1,328.1
4.303 2.896 3.580 3.400 7089 LIIHEN 3.440 -0.120 909 3.467 8.02 4.65 619.2 2.315 1.370 1.470 1.420 5371 KIMHIN 1.440 0.010 175.2 1.439 9.64 4.17 224.1
0.820 0.650 0.665 0.650 7126 LONBISC 0.660 0.005 215 0.655 14.29 — 123.1 0.075 0.005 0.010 0.005 5060 KINSTEL 0.005 UNCH 6645.5 0.006 — — 5.2
1.866 1.020 1.090 1.080 7085 LTKM 1.090 0.020 52.9 1.088 27.74 2.75 141.8 1.450 0.800 0.990 0.970 9466 KKB 0.980 0.010 226.7 0.981 — — 252.6
7.728 3.984 5.690 5.650 7087 MAGNI 5.690 UNCH 468.4 5.659 8.56 2.46 925.9 0.380 0.220 0.235 0.225 7164 KNM 0.230 0.005 32959.2 0.230 — — 545.0
0.045 0.010 0.020 0.015 5189 MAXWELL 0.020 UNCH 98 0.018 — — 8.0 1.120 0.830 0.865 0.865 6971 KOBAY 0.865 UNCH 0.5 0.865 14.16 — 88.3
1.266 0.974 — — 5886 MBG 1.010 — — — — 2.97 61.4 0.266 0.180 0.210 0.200 7017 KOMARK 0.210 0.010 81 0.201 — — 34.9
2.464 1.285 1.970 1.910 3662 MFLOUR 1.950 0.050 281.4 1.941 12.89 3.33 1,073.1 8.500 5.529 8.100 8.000 7153 KOSSAN 8.100 0.010 148.3 8.045 29.01 1.36 5,179.7
0.960 0.760 — — 7935 MILUX 0.820 — — — — — 44.6 1.110 0.345 0.790 0.730 7130 KPOWER 0.780 0.020 114.2 0.745 — — 59.4
4.956 3.760 — — 5202 MSM 4.100 — — — — 3.41 2,882.2 5.098 4.500 4.630 4.600 3476 KSENG 4.610 UNCH 45.8 4.618 21.31 2.17 1,666.4
0.035 0.030 — — 5150 MSPORTS 0.035 — — — — — 21.2 0.580 0.370 0.430 0.400 5192 KSSC 0.425 0.020 52.1 0.404 9.26 3.53 40.8
1.826 1.184 1.300 1.280 3921 MWE 1.300 0.020 31 1.290 2.18 1.54 301.0 0.775 0.295 — — 8362 KYM 0.490 — — — 70.00 — 73.4
103.20 71.80 102.40 100.60 4707 NESTLE 102.000 0.900 70.2 101.956 41.30 2.65 23,919.0 7.400 5.060 6.300 6.160 3794 LAFMSIA 6.200 0.040 154.7 6.221 — 3.23 5,268.1
4.838 3.062 — — 7060 NHFATT 3.380 — — — 11.38 3.25 254.0 0.910 0.580 0.670 0.630 9326 LBALUM 0.655 0.025 391 0.653 13.18 3.82 162.8
0.130 0.055 0.065 0.055 7139 NICE 0.065 0.005 2092.4 0.061 — — 21.6 0.601 0.425 0.540 0.535 5092 LCTH 0.535 -0.005 1018.4 0.535 15.69 4.67 192.6
0.310 0.225 0.235 0.225 7215 NIHSIN 0.230 0.005 2012.7 0.229 65.71 — 59.6 6.530 4.140 5.030 4.780 5284 LCTITAN 4.910 0.160 6073.3 4.937 9.15 — 11,331.3
0.882 0.600 0.635 0.630 5066 NTPM 0.630 0.010 461.4 0.631 16.15 3.81 707.6 0.970 0.451 0.960 0.930 5232 LEONFB 0.945 0.005 2806.4 0.949 4.68 1.59 293.0
0.690 0.440 0.550 0.535 7071 OCR 0.550 UNCH 1354.7 0.545 30.22 — 160.8 0.440 0.105 0.315 0.310 8745 LEWEKO 0.315 UNCH 636.7 0.310 — — 101.4
1.765 1.300 1.370 1.310 7107 OFI 1.320 -0.050 84.3 1.329 19.35 3.03 316.8 0.080 0.025 0.040 0.035 2887 LIONDIV 0.040 0.005 368 0.035 — — 55.7
6.768 6.258 6.550 6.540 4006 ORIENT 6.540 UNCH 23.8 6.540 9.21 3.06 4,057.4 1.670 0.405 1.520 1.480 4235 LIONIND 1.500 0.030 5070.7 1.502 7.55 — 1,076.9
5.500 2.196 5.330 5.160 7052 PADINI 5.310 0.110 535.7 5.246 21.83 1.88 3,493.5 0.740 0.390 0.520 0.500 9881 LSTEEL 0.520 0.015 1105 0.513 12.21 — 66.6
40.631 29.196 38.520 38.500 3719 PANAMY 38.500 -0.020 2.3 38.504 19.34 3.04 2,338.7 0.160 0.050 0.110 0.105 5068 LUSTER 0.105 UNCH 2619.5 0.105 — — 207.5
0.654 0.425 0.470 0.450 5022 PAOS 0.470 0.035 1.5 0.457 56.63 3.40 85.1 4.400 3.336 4.400 4.020 9199 LYSAGHT 4.400 0.380 125.7 4.178 9.18 1.59 183.0
0.650 0.350 0.435 0.380 9407 PARAGON 0.435 0.005 20.5 0.381 — — 30.5 1.830 0.622 1.830 1.790 5098 MASTEEL 1.790 -0.020 3044.7 1.808 7.81 — 565.0
0.401 0.210 0.235 0.225 6068 PCCS 0.235 0.010 3070.3 0.230 5.28 — 49.4 0.841 0.467 0.675 0.645 7029 MASTER 0.670 0.025 443.1 0.662 8.93 1.49 36.6
1.030 0.790 — — 5231 PELIKAN 0.860 — — — 20.62 — 475.8 1.430 0.992 1.260 1.220 5152 MBL 1.260 0.030 144.9 1.245 8.40 3.17 115.9
0.707 0.561 — — 9997 PENSONI 0.605 — — — 9.79 3.31 78.4 0.870 0.668 0.780 0.755 7004 MCEHLDG 0.780 -0.020 7 0.761 30.59 1.92 34.6
0.235 0.145 0.185 0.185 4081 PMCORP 0.185 0.010 0.1 0.185 — — 143.1 0.415 0.230 0.255 0.240 3778 MELEWAR 0.255 0.010 426.2 0.247 — — 57.5
0.795 0.446 0.655 0.620 5080 POHKONG 0.650 0.030 1327.3 0.641 8.05 1.54 266.7 0.789 0.493 — — 5223 MENTIGA 0.660 — — — — 1.52 46.2
2.048 1.651 1.760 1.740 7088 POHUAT 1.750 UNCH 580.5 1.747 6.70 4.57 407.8 1.837 1.596 — — 6149 METROD 1.750 — — — 13.69 3.43 210.0
17.600 15.539 17.280 17.080 4065 PPB 17.120 0.040 552 17.116 15.31 1.46 20,295.8 1.260 0.720 0.760 0.720 5001 MIECO 0.725 -0.035 8281.6 0.737 4.70 5.52 380.6
0.720 0.480 0.505 0.495 7190 PPG 0.505 0.025 13.9 0.501 16.72 2.73 50.5 0.170 0.090 0.140 0.135 7219 MINETEC 0.135 UNCH 758 0.137 — — 98.8
1.644 0.720 0.765 0.720 8966 PRLEXUS 0.730 -0.030 1569.3 0.745 6.78 3.08 131.4 0.660 0.435 0.480 0.480 5576 MINHO 0.480 0.005 20 0.480 6.86 — 105.5
1.156 0.677 1.000 0.975 7134 PWF 1.000 0.015 526.3 0.985 8.80 3.86 170.9 4.237 3.250 3.330 3.330 5916 MSC 3.330 0.020 12.5 3.330 10.53 2.40 333.0
2.615 1.793 1.900 1.880 7237 PWROOT 1.880 -0.020 121.6 1.888 17.25 6.12 620.7 1.766 1.280 1.390 1.350 3883 MUDA 1.370 0.020 122.1 1.371 10.27 2.19 417.9
4.440 3.820 4.440 4.360 7084 QL 4.440 0.100 260 4.397 35.58 0.74 7,203.6 1.100 0.495 0.550 0.540 5087 MYCRON 0.550 0.010 219.4 0.544 5.12 — 156.0
0.628 0.530 0.600 0.590 9946 REX 0.595 0.005 99 0.594 58.91 0.84 146.7 0.240 0.005 — — 7002 NAKA 0.010 — — — — — 0.6
1.890 1.240 1.350 1.310 0183 SALUTE 1.320 -0.030 664 1.323 25.29 1.82 512.2 0.265 0.120 0.130 0.120 5025 NWP 0.130 0.010 836.4 0.127 — — 49.7
1.069 0.550 0.600 0.570 5252 SASBADI 0.580 UNCH 1184.2 0.581 30.21 2.59 243.1 1.163 0.528 0.885 0.865 4944 NYLEX 0.880 0.015 586.5 0.879 7.83 2.27 171.0
0.590 0.290 0.475 0.455 5157 SAUDEE 0.465 0.005 401.8 0.461 46.04 — 55.8 1.925 1.148 1.730 1.660 7140 OKA 1.670 -0.030 642.6 1.687 9.42 3.29 273.1
1.490 1.000 1.490 1.420 7180 SERNKOU 1.420 UNCH 200 1.439 56.80 — 170.4 1.604 0.919 1.410 1.370 5065 ORNA 1.380 0.010 131.6 1.388 8.56 1.81 103.8
0.845 0.590 — — 7165 SGB 0.615 — — — — — 121.1 0.080 0.043 0.080 0.070 7225 PA 0.070 UNCH 57985.2 0.074 — — 119.3
1.672 1.192 1.250 1.230 7412 SHH 1.230 -0.020 38.7 1.234 11.68 4.07 61.5 8.040 6.687 8.040 7.850 5183 PCHEM 7.950 0.100 7964.3 7.962 15.49 3.02 63,600.0
1.034 0.690 0.705 0.690 7246 SIGN 0.695 0.005 257.3 0.696 8.53 3.60 167.0 1.667 1.255 1.540 1.510 5271 PECCA 1.530 UNCH 411.6 1.526 22.08 3.27 287.6
0.915 0.473 0.640 0.635 8532 SINOTOP 0.635 -0.005 57.2 0.638 86.99 — 250.8 7.901 4.000 4.130 4.080 5436 PERSTIM 4.080 UNCH 3.8 4.100 11.11 9.80 405.2
0.865 0.505 0.540 0.540 9776 SMCAP 0.540 0.020 36.9 0.540 — — 33.0 20.979 15.820 18.260 17.600 6033 PETGAS 17.940 0.420 967.6 17.953 20.04 3.68 35,498.5
0.385 0.220 0.285 0.280 7943 SNC 0.285 0.005 7 0.281 — — 18.8 15.060 3.980 14.160 13.480 3042 PETRONM 13.640 -0.260 900.9 13.789 8.81 1.61 3,682.8
2.548 2.130 2.320 2.310 7103 SPRITZER 2.310 -0.010 52.3 2.310 18.61 2.51 485.1 2.466 1.634 1.980 1.920 7095 PIE 1.970 0.050 175 1.959 15.95 1.22 756.6
1.440 1.050 1.240 1.220 7186 SWSCAP 1.220 UNCH 81.7 1.228 20.78 0.82 178.0 5.466 1.502 4.240 4.010 7172 PMBTECH 4.110 UNCH 179.7 4.112 27.88 0.97 328.8
0.669 0.380 0.395 0.385 7082 SYF 0.395 0.005 695.3 0.391 9.71 3.80 244.6 5.448 2.506 5.310 5.230 8869 PMETAL 5.270 -0.040 7444.4 5.258 34.22 1.14 20,198.8
0.505 0.330 — — 7211 TAFI 0.400 — — — — — 32.0 0.575 0.470 0.530 0.505 6637 PNEPCB 0.530 0.025 14 0.509 21.29 — 69.7
1.928 1.290 1.460 1.410 4405 TCHONG 1.450 0.070 96.4 1.447 — 1.38 974.4 0.995 0.275 0.470 0.445 8117 POLY 0.465 0.020 399.7 0.457 2.22 — 74.4
0.800 0.375 0.395 0.390 7200 TEKSENG 0.390 UNCH 448.9 0.390 — 5.13 135.8 0.973 0.660 0.705 0.665 8273 PPHB 0.700 0.035 500.7 0.686 7.44 — 132.0
1.250 0.850 0.890 0.870 7252 TEOSENG 0.870 -0.025 708.3 0.874 — 1.72 261.0 0.350 0.250 — — 9458 PREMIER 0.275 — — — 916.6 — 92.7
1.455 1.160 1.160 1.160 9369 TGL 1.160 -0.100 1.5 1.160 12.76 4.31 47.3 1.458 0.823 1.150 1.080 9873 PRESTAR 1.140 0.070 2529.3 1.126 4.94 3.51 233.3
1.020 0.400 0.760 0.730 7230 TOMEI 0.745 0.025 86.5 0.740 8.58 — 103.3 1.110 0.735 0.960 0.950 7168 PRG 0.950 -0.015 129.9 0.954 206.5 0.53 287.4
0.530 0.370 — — 7176 TPC 0.380 — — — — — 88.8 0.330 0.105 0.260 0.250 7123 PWORTH 0.255 UNCH 13260.2 0.255 38.64 — 244.7
6.080 4.089 5.280 5.120 4588 UMW 5.270 0.180 720.8 5.218 — — 6,156.9 1.290 0.920 — — 7544 QUALITY 0.920 — — — — — 53.3
2.680 1.935 2.500 2.500 7757 UPA 2.500 0.040 3 2.500 3.26 3.20 199.0 0.750 0.510 — — 7498 RALCO 0.530 — — — — — 22.2
2.470 0.756 2.210 1.980 7203 WANGZNG 1.990 -0.010 1473 2.067 21.92 2.01 318.4 5.840 5.310 — — 7765 RAPID 5.690 — — — 517.27 — 608.2
0.325 0.100 0.295 0.285 5156 XDL 0.290 UNCH 1791.8 0.288 19.33 — 195.4 0.725 0.285 0.420 0.405 5256 REACH 0.405 -0.015 6921.8 0.416 311.54 — 444.0
0.665 0.365 0.610 0.605 7121 XIANLNG 0.610 -0.005 24 0.607 — — 48.8 0.655 0.365 0.365 0.365 7232 RESINTC 0.365 -0.005 20 0.365 6.24 3.29 50.1
0.125 0.020 — — 5155 XINQUAN 0.055 — — — — — 26.7 1.510 0.632 1.480 1.460 9741 ROHAS 1.480 0.010 129.7 1.473 — 0.68 699.5
2.822 2.100 2.210 2.170 5584 YEELEE 2.210 0.030 62.2 2.188 11.05 2.04 423.4 0.850 0.650 0.675 0.660 7803 RUBEREX 0.670 -0.005 539 0.668 9.24 2.61 169.0
1.522 1.009 1.220 1.180 5159 YOCB 1.220 0.040 76.1 1.198 8.82 4.10 195.2 5.194 3.878 4.480 4.300 5134 SAB 4.480 0.230 2.6 4.307 13.81 1.12 613.5
3.190 1.822 2.800 2.710 7178 YSPSAH 2.800 0.050 35.5 2.756 13.88 2.50 382.9 8.490 4.793 7.600 7.490 9822 SAM 7.560 0.060 69.2 7.535 18.09 1.36 1,021.9
1.990 1.153 1.800 1.790 5131 ZHULIAN 1.800 UNCH 69.7 1.798 13.40 3.33 828.0 0.957 0.824 — — 7811 SAPIND 0.870 — — — 44.16 5.75 63.3
INDUSTRIAL PRODUCTS 1.237 0.700 0.715 0.705 5170 SCABLE 0.715 UNCH 184.2 0.710 — 4.20 226.7
1.393 0.985 1.040 1.000 0012 3A 1.020 0.025 235.3 1.023 12.00 1.76 501.8 3.400 2.500 2.640 2.500 7247 SCGM 2.510 -0.090 331.9 2.537 18.94 2.39 485.9
0.210 0.085 0.130 0.130 7086 ABLEGRP 0.130 UNCH 630 0.130 — — 34.3 0.740 0.500 — — 9237 SCIB 0.520 — — — 13.40 — 44.7
0.430 0.200 — — 7131 ACME 0.320 — — — 15.53 — 69.9 9.738 6.559 8.820 8.660 4731 SCIENTX 8.820 0.130 156.1 8.763 15.10 1.81 4,266.2
0.975 0.585 0.600 0.590 7191 ADVENTA 0.600 0.005 69.5 0.592 176.47 — 91.7 0.345 0.250 — — 7239 SCNWOLF 0.285 — — — 150.0 — 24.9
2.307 1.971 — — 9148 ADVPKG 2.020 — — — 23.11 2.97 41.4 0.525 0.160 0.250 0.245 7366 SCOMIEN 0.245 -0.005 501 0.249 — — 83.8
0.220 0.135 0.160 0.150 7146 AEM 0.160 0.010 241 0.155 200.00 — 47.9 1.660 0.690 0.920 0.860 7073 SEACERA 0.915 0.040 5316.2 0.902 70.38 — 323.0
0.500 0.375 0.450 0.420 5198 AFUJIYA 0.450 0.040 23 0.423 16.61 — 81.0 0.215 0.125 0.135 0.130 5145 SEALINK 0.130 -0.010 233.1 0.135 — — 65.0
0.595 0.380 0.410 0.405 2682 AISB 0.410 0.020 47 0.410 5.10 — 59.2 0.765 0.285 0.470 0.470 5163 SEB 0.470 UNCH 20.2 0.470 6.59 — 37.6
0.913 0.580 0.620 0.600 7609 AJIYA 0.615 0.015 652.8 0.607 11.10 3.25 187.3 1.410 0.388 1.110 1.060 5181 SIGGAS 1.070 0.010 1698.7 1.085 45.15 1.12 200.6
* Volume Weighted Average Price # PE is calculated based on latest 12 months reported Earnings Per Share
2 6 Markets T HU R SDAY JAN UARY 4, 2 0 1 8 • TH EEDGE F I 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 0.760 — — — 9.28 — 30.4 5.590 2.514 5.500 5.410 7668 HAIO 5.470 -0.030 301.9 5.437 21.65 2.62 1,641.6
2.320 1.199 2.240 2.180 7155 SKPRES 2.190 -0.030 2836.2 2.206 20.00 1.89 2,737.9 0.335 0.200 0.235 0.230 7253 HANDAL 0.235 0.005 14 0.234 — — 37.6
2.201 1.610 1.710 1.690 7248 SLP 1.700 -0.120 49.9 1.700 21.74 2.32 538.8 9.790 8.217 9.660 9.540 3034 HAPSENG 9.540 -0.040 686.8 9.584 22.28 3.67 23,751.6
0.700 0.510 — — 7132 SMISCOR 0.510 — — — — — 22.8 0.876 0.646 0.815 0.785 2062 HARBOUR 0.805 0.020 783.2 0.799 10.97 1.86 322.3
2.580 1.129 2.340 2.280 5665 SSTEEL 2.320 0.030 954.3 2.319 7.75 1.29 1,004.4 4.200 3.013 — — 5008 HARISON 3.950 — — — 12.15 6.33 270.5
0.300 0.065 — — 7143 STONE 0.200 — — — — — 18.0 1.490 0.391 1.480 1.440 0185 HSSEB 1.480 0.040 396.2 1.458 29.08 0.53 472.2
1.550 1.170 — — 6904 SUBUR 1.260 — — — — — 263.3 0.195 0.050 0.145 0.135 7013 HUBLINE 0.140 UNCH 64808.9 0.140 — — 300.7
2.128 1.200 1.270 1.250 7207 SUCCESS 1.260 -0.010 11 1.258 7.31 1.98 313.1 0.480 0.210 0.265 0.240 5255 ICON 0.260 0.015 14389.9 0.255 — — 306.1
2.945 1.756 2.070 2.040 7235 SUPERLN 2.050 0.020 306.3 2.052 16.44 1.22 328.0 6.418 5.420 5.940 5.810 5225 IHH 5.880 -0.020 3222.8 5.891 59.82 0.51 48,446.0
2.120 1.664 1.990 1.950 7106 SUPERMX 1.970 0.030 2028.2 1.967 17.45 2.79 1,339.9 0.915 0.600 0.650 0.650 5614 ILB 0.650 UNCH 20 0.650 — — 126.8
4.153 3.344 3.600 3.530 5012 TAANN 3.570 -0.010 60.1 3.563 12.43 4.20 1,588.1 0.900 0.670 — — 5673 IPMUDA 0.890 — — — — — 64.5
0.415 0.250 0.310 0.290 5149 TAS 0.310 0.010 401.1 0.301 — — 55.8 2.166 1.650 1.750 1.720 0058 JCBNEXT 1.750 UNCH 66 1.749 30.28 1.14 244.4
13.373 11.949 12.100 12.000 4448 TASEK 12.000 -0.080 4 12.02 161.07 10.00 1,483.5 0.400 0.290 0.350 0.350 8672 KAMDAR 0.350 UNCH 7.1 0.350 11.55 — 69.3
0.290 0.105 0.180 0.170 5178 TATGIAP 0.170 0.005 1034 0.173 — — 29.0 1.862 1.560 1.600 1.600 6491 KFIMA 1.600 UNCH 63 1.600 20.67 5.63 451.6
1.480 0.320 1.160 1.140 7097 TAWIN 1.140 -0.020 668 1.149 6.45 — 73.3 0.900 0.276 0.880 0.860 0151 KGB 0.860 -0.005 2420.8 0.871 15.72 1.16 197.7
2.690 1.300 1.370 1.370 7439 TECGUAN 1.370 UNCH 8.8 1.370 — — 54.9 1.680 0.850 — — 5035 KNUSFOR 0.925 — — — — — 92.2
4.803 4.010 4.180 4.140 7034 TGUAN 4.150 -0.010 514.4 4.151 9.30 2.89 561.3 1.140 0.900 0.985 0.970 5878 KPJ 0.980 UNCH 1326.4 0.976 22.69 1.82 4,195.8
2.140 1.500 1.570 1.550 7374 TIENWAH 1.570 0.030 8.8 1.558 9.60 6.37 227.2 1.678 1.080 1.300 1.280 5843 KPS 1.300 UNCH 96.3 1.294 17.06 4.81 648.7
0.800 0.550 0.630 0.620 7854 TIMWELL 0.630 0.010 1900 0.628 143.18 — 56.1 0.570 0.500 0.520 0.520 9121 KPSCB 0.520 0.010 143.2 0.520 9.08 — 76.9
1.069 0.935 0.980 0.960 7285 TOMYPAK 0.980 0.005 156.6 0.969 16.72 3.27 411.2 0.225 0.125 0.150 0.140 4847 KTB 0.150 0.015 1907.9 0.145 — — 60.4
4.292 1.802 4.120 4.020 5010 TONGHER 4.100 0.080 54.5 4.082 10.24 9.27 645.5 0.628 0.370 0.460 0.435 6874 KUB 0.445 0.015 9759.2 0.447 9.98 2.25 247.6
8.190 4.512 8.050 7.850 7113 TOPGLOV 7.900 -0.070 1347.8 7.918 27.45 1.84 9,932.9 0.380 0.215 0.220 0.215 7170 LFECORP 0.215 -0.005 320 0.219 — — 40.0
0.850 0.495 0.630 0.630 7173 TOYOINK 0.630 UNCH 18 0.630 — — 67.4 0.835 0.435 0.715 0.715 8486 LIONFIB 0.715 0.015 10 0.715 6.00 — 165.6
0.230 0.150 — — 4359 TURIYA 0.190 — — — 950.00 — 43.5 0.890 0.720 0.755 0.735 5143 LUXCHEM 0.755 0.005 615.4 0.742 13.96 3.09 637.9
3.410 1.595 3.240 3.040 7100 UCHITEC 3.120 -0.130 3108.5 3.107 21.34 4.81 1,401.5 0.372 0.165 0.190 0.180 5078 M&G 0.190 0.010 424.4 0.185 — 26.32 137.5
4.930 3.340 3.460 3.340 7133 ULICORP 3.350 -0.050 59.9 3.378 20.14 3.58 486.4 2.114 1.605 1.780 1.740 3859 MAGNUM 1.770 0.030 998.1 1.762 12.73 7.34 2,544.8
1.347 1.040 1.150 1.040 7227 UMSNGB 1.150 0.030 8.1 1.099 11.48 2.61 92.0 1.309 0.860 0.975 0.895 5264 MALAKOF 0.930 0.040 42525.6 0.937 1.90 6.45 4,650.0
1.680 0.640 0.675 0.650 4995 VERSATL 0.670 0.005 630.8 0.665 43.51 — 78.6 0.179 0.135 0.140 0.135 3514 MARCO 0.135 UNCH 1593.4 0.135 8.82 3.70 142.3
3.160 1.359 3.020 2.960 6963 VS 2.970 -0.030 4112.1 2.987 21.41 2.09 3,832.8 6.437 5.387 6.030 5.950 6012 MAXIS 5.950 -0.050 4647.7 5.999 21.17 3.36 46,472.9
1.360 0.800 1.360 1.100 5142 WASEONG 1.310 0.220 5051.8 1.238 — 0.38 1,015.1 0.955 0.670 0.840 0.815 5077 MAYBULK 0.840 0.025 372.9 0.825 — — 840.0
0.465 0.320 — — 7226 WATTA 0.320 — — — — — 27.0 2.576 2.010 2.340 2.230 5983 MBMR 2.330 0.100 370.4 2.319 18.03 1.93 910.8
2.210 1.714 1.900 1.880 7111 WEIDA 1.900 0.030 26.6 1.898 20.61 1.58 253.3 1.232 0.580 0.745 0.710 4502 MEDIA 0.715 -0.015 4555 0.727 — 11.19 793.1
1.639 1.125 1.530 1.480 7231 WELLCAL 1.530 0.040 152.7 1.507 21.07 4.03 761.9 0.603 0.370 0.400 0.400 5090 MEDIAC 0.400 UNCH 248.9 0.400 1.76 6.25 674.9
1.420 0.600 1.170 1.140 7050 WONG 1.170 0.020 380.2 1.149 17.54 — 107.3 0.739 0.297 0.535 0.520 7234 MESB 0.525 -0.010 76.1 0.527 — — 43.0
0.700 0.500 — — 7025 WOODLAN 0.535 — — — 26.23 — 21.4 3.978 2.111 3.730 3.680 3069 MFCB 3.720 0.030 201 3.715 9.36 1.34 1,528.1
1.968 1.871 1.940 1.940 5009 WTHORSE 1.940 0.020 5 1.940 17.51 5.15 465.6 1.160 0.625 0.835 0.815 5186 MHB 0.820 UNCH 794.2 0.823 — — 1,312.0
1.037 0.690 0.725 0.705 4243 WTK 0.725 0.010 243.1 0.715 — 2.76 349.0 7.679 6.960 7.510 7.270 3816 MISC 7.350 -0.070 941.9 7.422 13.44 4.22 32,808.9
1.380 0.970 0.990 0.970 7245 WZSATU 0.975 UNCH 362 0.976 13.30 2.05 340.2 2.606 1.770 2.080 2.030 2194 MMCCORP 2.040 0.040 611 2.051 15.25 1.96 6,211.9
0.845 0.720 0.780 0.770 5048 YILAI 0.775 0.005 62.6 0.778 — — 124.0 0.430 0.215 0.410 0.400 0059 MMODE 0.400 -0.005 552.2 0.403 — — 65.1
0.285 0.155 0.175 0.170 7020 YKGI 0.170 UNCH 105 0.171 — — 59.2 0.100 0.040 0.055 0.050 0043 MTRONIC 0.050 -0.005 1114 0.050 — — 47.5
0.692 0.380 0.400 0.400 7014 YLI 0.400 -0.020 23 0.400 — 1.25 41.2 0.280 0.120 0.240 0.225 3891 MUIIND 0.235 0.005 14469.2 0.232 — — 689.2
CONSTRUCTION 3.050 2.090 2.590 2.570 3905 MULPHA 2.580 0.010 94.1 2.577 3.41 — 824.6
1.210 0.728 0.885 0.855 5281 ADVCON 0.870 0.015 542.1 0.874 12.32 — 349.8 2.520 1.950 2.520 2.220 0138 MYEG 2.460 0.230 52727.3 2.423 41.14 0.69 8,871.5
0.750 0.290 — — 7007 ARK 0.400 — — — — — 19.5 1.610 1.340 1.400 1.400 5275 MYNEWS 1.400 -0.030 300 1.400 29.66 0.71 955.0
1.200 0.609 1.010 0.955 7078 AZRB 1.010 0.055 2061.2 0.981 12.78 1.49 536.9 0.910 0.610 — — 9806 NATWIDE 0.620 — — — — — 74.5
0.625 0.366 0.410 0.390 5190 BENALEC 0.400 0.005 1221.7 0.397 65.57 1.00 324.7 0.495 0.350 0.375 0.365 7241 NGGB 0.375 UNCH 846.2 0.373 — — 171.9
0.485 0.325 0.350 0.335 5932 BPURI 0.350 0.010 504.4 0.342 46.67 — 93.5 0.140 0.050 0.070 0.065 4464 NICORP 0.065 0.005 18970.5 0.065 — — 57.0
1.140 0.777 1.050 1.030 8761 BREM 1.050 -0.040 68.3 1.048 18.88 1.43 362.7 0.828 0.580 0.580 0.580 5533 OCB 0.580 -0.040 10 0.580 24.68 1.72 59.7
1.220 0.875 0.925 0.885 8591 CRESBLD 0.920 0.040 412.3 0.906 6.70 4.35 162.8 0.985 0.750 0.910 0.900 0172 OCK 0.900 UNCH 222.4 0.909 26.55 1.11 784.3
2.086 1.437 — — 7528 DKLS 1.710 — — — 3.66 1.75 158.5 3.407 1.782 3.110 3.090 5201 OLDTOWN 3.090 UNCH 328.7 3.097 21.33 2.27 1,431.4
1.270 1.180 1.220 1.190 5253 ECONBHD 1.220 0.010 2746.9 1.204 19.09 1.48 1,631.8 0.210 0.075 0.135 0.125 3018 OLYMPIA 0.130 0.010 10551.5 0.129 4.15 — 133.0
1.488 0.871 1.050 0.930 8877 EKOVEST 1.020 0.095 62707.7 1.000 18.99 1.96 2,182.0 2.370 1.120 1.470 1.360 5260 OWG 1.380 -0.020 2956 1.433 53.08 — 355.4
0.992 0.540 0.890 0.800 7047 FAJAR 0.890 0.090 2721.4 0.846 8.18 2.81 331.6 0.498 0.380 0.400 0.400 8419 PANSAR 0.400 0.005 17 0.400 17.62 2.50 112.0
1.335 0.994 1.190 1.140 9261 GADANG 1.160 0.020 6219.3 1.167 6.56 2.59 764.1 0.734 0.431 0.650 0.640 5125 PANTECH 0.645 -0.005 450.5 0.645 11.30 2.79 480.2
5.392 4.573 4.960 4.850 5398 GAMUDA 4.940 0.100 2986.9 4.935 18.73 2.43 12,130.4 0.735 0.505 0.520 0.510 5657 PARKSON 0.520 0.010 642.4 0.517 — — 568.8
2.010 0.876 1.990 1.950 5226 GBGAQRS 1.980 0.030 1448.5 1.960 19.39 0.25 893.9 1.288 1.086 1.180 1.180 5041 PBA 1.180 0.010 11.1 1.180 6.88 3.39 390.9
0.920 0.510 0.570 0.550 5169 HOHUP 0.560 UNCH 201 0.556 5.19 — 209.9 0.258 0.099 0.140 0.110 6254 PDZ 0.140 0.030 7026.3 0.124 — — 91.3
1.736 1.390 1.450 1.420 6238 HSL 1.450 0.020 260.1 1.422 18.28 1.66 844.9 1.250 0.740 0.815 0.810 5133 PENERGY 0.810 UNCH 133.7 0.810 — 2.47 260.6
3.518 2.700 3.070 3.010 3336 IJM 3.070 0.060 2856.9 3.053 18.13 2.44 11,139.8 0.660 0.285 0.340 0.320 7108 PERDANA 0.325 0.005 15352.9 0.332 — — 253.0
0.740 0.525 0.565 0.550 5268 IKHMAS 0.565 0.005 111.1 0.558 21.48 0.88 299.6 0.095 0.025 0.035 0.030 0047 PERISAI 0.030 UNCH 395 0.033 — — 37.8
0.405 0.275 0.370 0.360 0192 INTA 0.360 UNCH 4240.5 0.367 0.86 — 192.7 0.420 0.130 0.280 0.255 7080 PERMAJU 0.270 0.015 2376.5 0.273 — — 52.9
0.680 0.532 0.655 0.645 8834 IREKA 0.645 -0.005 155.5 0.651 — 3.10 120.4 1.770 1.510 1.720 1.700 5219 PESTECH 1.710 0.010 4026.4 1.706 16.73 — 1,306.9
1.790 1.010 1.600 1.530 4723 JAKS 1.600 0.070 4174.1 1.579 — — 788.4 24.890 20.824 24.700 24.300 5681 PETDAG 24.500 0.140 1228.6 24.54 22.34 3.18 24,339.6
0.500 0.240 0.270 0.255 9083 JETSON 0.265 -0.005 263.6 0.259 — — 54.8 0.250 0.030 — — 7027 PETONE 0.055 — — — 3.53 — 2.8
4.150 2.134 4.150 4.010 7161 KERJAYA 4.080 0.050 742.5 4.097 17.35 1.35 2,303.3 5.085 3.650 4.300 4.200 7081 PHARMA 4.220 -0.110 85.1 4.219 35.08 3.79 1,096.4
2.430 2.000 2.210 2.200 5171 KIMLUN 2.200 UNCH 8.3 2.206 9.88 2.95 705.2 0.189 0.120 0.125 0.125 7201 PICORP 0.125 UNCH 15 0.125 — 4.88 82.3
1.500 1.390 — — 9628 LEBTECH 1.400 — — — 83.33 — 191.1 0.420 0.230 — — 7163 PJBUMI 0.270 — — — — — 22.1
1.000 0.710 0.760 0.755 5129 MELATI 0.755 -0.045 30 0.760 37.19 1.32 90.6 5.665 3.754 5.390 5.290 4634 POS 5.300 UNCH 1458.8 5.353 41.37 2.02 4,148.7
2.560 1.200 1.970 1.930 8192 MERCURY 1.950 0.020 21.7 1.943 6.73 6.15 78.4 2.416 1.190 1.590 1.510 5204 PRESBHD 1.510 -0.010 1524.9 1.541 48.87 1.99 730.8
0.575 0.280 0.380 0.345 5006 MERGE 0.345 0.005 27.2 0.356 — — 23.1 2.180 1.270 1.330 1.280 8346 PRKCORP 1.310 0.030 2.9 1.293 — — 131.0
1.407 0.740 0.855 0.805 9571 MITRA 0.840 0.035 4347.5 0.831 5.22 5.95 579.2 0.871 0.685 0.730 0.720 5272 RANHILL 0.730 0.010 566.4 0.725 8.72 9.59 648.5
1.770 0.830 1.760 1.740 7595 MLGLOBAL 1.760 0.010 539.2 1.748 29.38 — 865.6 0.360 0.255 0.295 0.280 0037 RGB 0.290 0.010 17948.5 0.288 14.36 2.07 388.8
0.425 0.210 0.245 0.245 5924 MTDACPI 0.245 0.005 0.3 0.245 — — 56.8 1.447 0.755 0.995 0.965 5278 RHONEMA 0.970 -0.030 341.2 0.977 17.35 4.12 161.0
1.670 0.780 0.970 0.920 5085 MUDAJYA 0.940 0.025 256.5 0.935 — — 569.1 0.687 0.390 0.495 0.475 8567 SALCON 0.495 0.025 5790.7 0.485 — — 335.5
2.980 2.203 2.930 2.820 5703 MUHIBAH 2.870 0.020 2340.4 2.865 10.81 1.92 1,383.7 1.122 0.754 1.100 1.050 5147 SAMCHEM 1.070 0.020 3274.5 1.078 14.27 3.50 291.0
0.724 0.435 0.470 0.455 8311 PESONA 0.465 0.005 353.4 0.463 14.35 4.30 323.1 0.315 0.120 0.215 0.195 9113 SANBUMI 0.210 0.015 180.5 0.202 — — 47.5
1.254 0.924 1.130 1.080 5070 PRTASCO 1.120 0.050 1673.7 1.103 21.71 5.36 475.7 2.100 0.665 0.715 0.670 5218 SAPNRG 0.690 0.015 114837 0.698 — 1.45 4,134.6
0.215 0.100 0.155 0.145 7145 PSIPTEK 0.155 0.010 4027.9 0.150 14.09 — 54.0 2.338 1.580 1.720 1.670 0099 SCICOM 1.680 -0.020 271.4 1.699 13.24 5.36 597.2
4.137 3.209 3.720 3.710 9598 PTARAS 3.720 UNCH 29 3.718 22.82 5.38 614.2 0.215 0.100 0.170 0.160 7158 SCOMI 0.165 UNCH 8011.5 0.165 — — 316.4
1.140 0.600 0.665 0.640 6807 PUNCAK 0.640 0.010 2163.3 0.650 — — 287.5 0.270 0.090 0.125 0.120 7045 SCOMIES 0.125 UNCH 3624.4 0.125 — — 292.7
1.390 0.505 0.865 0.840 5205 SENDAI 0.855 0.010 6223.7 0.853 — — 667.8 1.160 0.930 1.060 1.060 7053 SEEHUP 1.060 -0.090 4.8 1.060 — — 85.3
2.530 1.620 2.510 2.460 5263 SUNCON 2.510 0.050 1277.7 2.483 23.50 2.19 3,245.2 0.730 0.598 0.685 0.665 9792 SEG 0.670 UNCH 138.1 0.673 22.48 5.22 847.0
0.415 0.240 0.250 0.240 9717 SYCAL 0.250 0.005 168.3 0.245 16.34 — 86.8 1.750 1.120 1.550 1.530 5250 SEM 1.530 -0.020 162.1 1.540 38.93 1.50 1,887.1
0.860 0.364 0.665 0.620 5054 TRC 0.660 0.030 471.3 0.653 9.44 2.88 317.1 3.380 1.465 3.380 3.180 5279 SERBADK 3.340 0.120 5103.3 3.317 12.63 — 4,458.9
2.450 1.500 2.330 2.290 5622 TRIPLC 2.320 UNCH 94 2.302 10.55 — 160.0 2.470 2.040 2.470 2.210 4197 SIME 2.410 0.190 37804.4 2.384 10.33 9.54 16,390.0
0.825 0.450 0.500 0.490 5042 TSRCAP 0.500 0.015 198.9 0.498 12.92 — 87.2 0.720 0.600 — — 9431 SJC 0.620 — — — — 1.61 25.1
0.175 0.110 0.160 0.150 7070 VIZIONE 0.155 UNCH 10294.7 0.155 96.88 — 548.5 0.588 0.320 — — 5242 SOLID 0.350 — — — 29.66 0.97 136.8
1.680 0.895 1.210 1.170 3565 WCEHB 1.200 0.020 365.1 1.195 32.97 — 1,203.3 2.151 1.310 1.520 1.460 6084 STAR 1.490 0.020 1747.2 1.491 4.22 10.07 1,100.5
2.467 1.460 1.690 1.600 9679 WCT 1.610 UNCH 7627 1.650 21.96 — 2,279.1 3.079 2.312 2.600 2.460 9865 SUIWAH 2.600 0.160 100 2.473 13.63 0.38 158.6
0.805 0.535 0.695 0.680 7028 ZECON 0.695 0.020 329.2 0.685 6.60 — 91.1 0.100 0.045 0.055 0.045 1201 SUMATEC 0.050 UNCH 22245.7 0.050 — — 212.6
0.185 0.095 0.120 0.105 2283 ZELAN 0.120 0.010 2549.1 0.115 — — 101.4 1.918 1.580 1.810 1.700 5211 SUNWAY 1.780 0.080 7954.7 1.764 13.29 2.64 8,754.9
TRADING SERVICES 2.257 1.820 1.880 1.860 6521 SURIA 1.880 0.040 9.1 1.869 10.32 3.72 541.8
0.550 0.325 0.375 0.355 5238 AAX 0.365 0.010 24834.4 0.365 48.67 — 1,514.1 0.345 0.220 0.230 0.220 5173 SYSCORP 0.225 UNCH 455.9 0.224 22.73 — 270.0
0.290 0.135 0.220 0.205 5166 AEGB 0.210 UNCH 5411.3 0.214 — — 260.4 0.490 0.315 0.445 0.425 7228 T7GLOBAL 0.445 0.025 6694.8 0.436 15.51 — 186.7
2.664 1.640 1.690 1.660 6599 AEON 1.660 -0.020 452.2 1.675 27.85 1.81 2,330.6 1.691 1.002 1.220 1.130 8524 TALIWRK 1.210 0.100 4149.5 1.172 26.83 6.61 1,463.5
0.435 0.160 0.275 0.265 7315 AHB 0.265 -0.010 597.7 0.268 4.76 — 46.7 2.667 1.467 2.300 2.180 5140 TASCO 2.180 0.020 60.4 2.221 13.33 2.06 436.0
3.530 2.014 3.440 3.340 5099 AIRASIA 3.410 0.070 8703.2 3.403 6.19 5.28 11,396.1 15.440 12.465 15.420 15.220 5347 TENAGA 15.300 0.080 10311.2 15.31 12.53 3.99 86,689.6
9.336 5.908 8.850 8.700 5014 AIRPORT 8.740 0.050 2077.7 8.762 78.81 1.26 14,501.3 1.404 0.829 0.945 0.935 8702 TEXCHEM 0.945 0.015 20 0.940 36.07 10.58 117.3
0.370 0.110 0.190 0.175 5115 ALAM 0.180 UNCH 6368.9 0.181 — — 166.4 0.180 0.045 0.105 0.100 7206 THHEAVY 0.100 UNCH 2144.5 0.100 — — 112.1
0.140 0.070 0.100 0.090 0159 AMEDIA 0.095 0.005 2550.5 0.094 — — 22.7 6.586 5.688 6.210 6.140 4863 TM 6.150 -0.020 1120.5 6.161 28.59 3.51 23,111.3
7.964 6.953 7.370 7.330 6351 AMWAY 7.350 -0.020 16.4 7.350 23.84 2.72 1,208.2 0.985 0.730 0.855 0.840 0101 TMCLIFE 0.850 0.005 318.2 0.843 56.67 0.20 1,475.9
2.340 2.120 2.150 2.150 7083 ANALABS 2.150 0.020 10 2.150 13.52 1.51 129.1 1.806 1.290 1.330 1.320 8397 TNLOGIS 1.330 UNCH 158.3 1.322 8.24 1.50 612.2
0.055 0.015 0.030 0.020 5194 APFT 0.030 0.005 27688.5 0.025 — — 37.2 1.060 0.450 — — 7218 TOCEAN 0.580 — — — — — 23.8
0.825 0.605 0.775 0.760 5210 ARMADA 0.775 0.015 12921.4 0.768 — — 4,546.4 1.000 0.730 0.780 0.730 5167 TURBO 0.780 UNCH 7.7 0.743 20.05 — 84.2
0.220 0.100 0.150 0.140 1481 ASB 0.145 UNCH 2147.3 0.146 43.94 1.72 98.3 2.892 2.470 — — 7137 UMS 2.730 — — — 19.85 2.20 111.1
2.906 2.415 2.690 2.580 6399 ASTRO 2.690 0.100 3472.3 2.657 19.09 4.28 14,025.3 0.915 0.270 0.340 0.325 5243 UMWOG 0.330 0.005 69229.3 0.334 — — 2,309.6
4.780 3.954 4.280 4.170 7048 ATLAN 4.280 0.030 11 4.249 21.59 2.57 1,085.6 1.294 0.995 1.030 1.020 7091 UNIMECH 1.020 UNCH 41.7 1.023 14.72 2.94 133.8
0.365 0.280 0.340 0.325 8885 AVI 0.340 0.015 8.5 0.330 — — 291.9 0.730 0.350 0.390 0.390 5754 UTUSAN 0.390 0.010 0.5 0.390 — — 43.2
1.168 0.880 0.960 0.885 7579 AWC 0.925 0.040 634.7 0.927 11.36 2.16 251.3 1.980 1.260 1.320 1.260 7250 UZMA 1.290 -0.020 1896.8 1.304 12.33 — 412.8
5.490 4.175 5.420 5.390 6888 AXIATA 5.420 0.030 6601.6 5.411 84.16 1.48 49,039.9 1.240 0.600 1.110 1.070 7240 VERTICE 1.100 UNCH 1542.9 1.097 — — 159.7
0.653 0.319 0.465 0.455 5021 AYS 0.455 0.005 1219.3 0.459 7.08 5.49 173.1 2.140 1.655 2.000 2.000 5016 WARISAN 2.000 UNCH 26.1 2.000 38.68 1.50 134.4
0.740 0.285 0.300 0.285 7251 BARAKAH 0.295 0.010 3866.1 0.292 — — 243.8 0.620 0.435 — — 7692 WIDETEC 0.575 — — — 23.96 — 25.7
2.240 1.823 2.190 2.170 5248 BAUTO 2.170 -0.010 3213.2 2.178 28.26 4.15 2,509.7 4.195 3.340 3.800 3.660 5246 WPRTS 3.750 -0.040 680.2 3.735 21.48 3.49 12,787.5
0.280 0.160 0.180 0.170 6998 BINTAI 0.180 UNCH 420.6 0.175 — — 52.1 1.448 1.020 1.250 1.240 5267 XINHWA 1.240 -0.010 24.2 1.242 26.11 0.81 267.8
6.278 5.662 — — 5032 BIPORT 6.180 — — — 18.67 3.40 2,842.8 0.075 0.020 0.030 0.020 7122 YFG 0.030 UNCH 91.1 0.025 — — 18.3
0.415 0.320 0.355 0.335 3395 BJCORP 0.350 0.010 30964 0.346 — — 1,723.3 4.050 2.824 4.050 4.000 7293 YINSON 4.040 0.040 1587.2 4.023 15.36 0.99 4,414.9
1.943 1.371 1.810 1.790 5196 BJFOOD 1.800 UNCH 60 1.798 53.73 2.59 686.4 1.480 1.090 1.350 1.320 4677 YTL 1.340 UNCH 3197 1.340 17.99 3.73 14,620.1
0.670 0.350 0.360 0.355 4219 BJLAND 0.360 UNCH 1812.7 0.359 33.64 — 1,800.1 FINANCE
0.470 0.185 0.280 0.280 6025 BJMEDIA 0.280 -0.040 0.4 0.280 — — 65.8 4.302 3.539 4.080 4.040 2488 ABMB 4.060 UNCH 740.4 4.057 12.33 3.94 6,285.3
2.884 2.213 2.290 2.250 1562 BJTOTO 2.290 0.030 3260.2 2.278 12.23 6.11 3,093.9 14.600 11.782 13.760 13.600 5139 AEONCR 13.760 -0.020 90.1 13.64 68.46 3.11 3,410.4
0.135 0.080 0.090 0.085 7036 BORNOIL 0.090 UNCH 11210.4 0.086 9.57 — 455.6 2.888 2.193 2.390 2.330 5185 AFFIN 2.370 0.030 979.6 2.373 8.97 2.95 4,604.8
0.875 0.400 0.480 0.470 9474 BRAHIMS 0.470 0.010 146.9 0.474 — — 111.1 15.600 10.047 — — 1163 ALLIANZ 13.500 — — — 8.06 0.67 2,356.9
3.038 2.457 2.900 2.880 2771 BSTEAD 2.900 UNCH 225.3 2.895 11.49 4.14 5,878.3 5.485 4.011 4.600 4.460 1015 AMBANK 4.560 0.110 6094.2 4.566 10.48 3.86 13,744.7
0.620 0.280 0.365 0.355 5257 CARIMIN 0.365 0.005 580.6 0.360 — — 85.4 1.950 1.263 1.480 1.460 5088 APEX 1.460 -0.020 12.1 1.480 21.07 3.42 311.8
2.200 1.278 2.070 2.060 5245 CARING 2.070 -0.010 19 2.066 28.79 1.45 450.7 4.461 4.074 4.350 4.290 5258 BIMB 4.290 0.010 2.5 4.338 11.42 3.26 7,025.9
3.063 1.980 2.160 2.000 2925 CCB 2.070 -0.110 30 2.057 27.24 2.42 208.5 10.760 7.782 10.420 10.120 1818 BURSA 10.400 0.280 4793.2 10.33 25.58 3.56 5,590.0
1.440 0.865 1.050 1.020 7117 CENTURY 1.040 0.020 373 1.036 22.46 2.88 408.5 6.937 4.324 6.580 6.500 1023 CIMB 6.530 0.030 24802.6 6.525 13.67 3.83 60,242.8
0.538 0.376 — — 7209 CHEETAH 0.470 — — — 82.46 1.28 60.0 0.705 0.325 0.515 0.515 2143 ECM 0.515 0.010 18.6 0.515 183.93 — 147.6
1.468 0.834 1.200 1.190 5273 CHINHIN 1.190 UNCH 66 1.192 15.54 3.36 662.1 1.220 1.150 1.220 1.200 5228 ELKDESA 1.220 0.020 18.3 1.212 12.39 5.53 364.1
0.675 0.442 0.495 0.480 7016 CHUAN 0.495 0.015 123.5 0.486 12.41 3.64 83.5 17.100 12.666 17.100 16.900 5819 HLBANK 17.000 -0.020 1577.7 17.01 15.52 2.65 36,851.2
0.150 0.065 0.130 0.125 5104 CNI 0.130 0.005 2853 0.126 — — 93.6 10.100 7.327 — — 5274 HLCAP 9.790 — — — 29.92 1.94 2,417.1
1.240 0.655 0.680 0.680 5136 COMPLET 0.680 UNCH 75 0.680 11.93 — 84.2 17.960 13.880 17.960 17.880 1082 HLFG 17.920 0.040 568.7 17.91 13.01 2.12 20,563.5
0.040 0.020 0.035 0.030 5037 COMPUGT 0.030 UNCH 18128.1 0.034 — — 70.4 1.140 0.696 0.970 0.945 3379 INSAS 0.965 0.025 1173.4 0.960 3.95 1.04 669.1
2.820 2.024 2.650 2.470 5184 CYPARK 2.610 0.130 408.3 2.568 13.10 1.99 681.8 0.400 0.160 0.375 0.360 3441 JOHAN 0.365 -0.010 5370.1 0.364 — — 227.4
0.865 0.410 0.450 0.420 5276 DANCO 0.440 0.015 300.5 0.430 10.43 3.41 131.1 0.690 0.419 0.555 0.545 6483 KENANGA 0.550 UNCH 291.3 0.551 27.78 4.09 397.4
0.105 0.055 0.085 0.075 0091 DAYA 0.080 0.005 15806.7 0.080 — — 163.4 19.302 15.710 18.160 18.120 8621 LPI 18.120 -0.020 71 18.13 19.27 4.53 6,015.6
0.837 0.535 0.725 0.700 5141 DAYANG 0.710 0.005 2702.4 0.710 — — 685.0 0.857 0.765 0.780 0.770 1198 MAA 0.775 0.005 15.5 0.772 8.64 11.61 212.0
1.076 0.746 0.950 0.910 5132 DELEUM 0.920 -0.020 615 0.926 12.83 3.53 368.2 3.320 2.895 — — 1058 MANULFE 3.300 — — — 13.50 3.18 667.8
0.840 0.425 0.590 0.560 7212 DESTINI 0.560 -0.010 19216.8 0.577 17.61 — 646.9 9.800 7.523 9.780 9.660 1155 MAYBANK 9.780 0.120 13945.3 9.712 12.90 5.62 105,489.4
2.540 1.492 2.540 2.490 7277 DIALOG 2.500 UNCH 12349.5 2.510 30.53 1.06 14,104.1 1.380 0.884 1.180 1.120 1171 MBSB 1.150 0.020 19747.5 1.152 19.79 2.61 6,813.1
5.292 3.940 4.100 4.050 5908 DKSH 4.050 0.010 8 4.063 12.83 2.35 638.5 2.840 2.190 2.350 2.300 6459 MNRB 2.350 0.050 38 2.305 7.04 — 751.1
0.683 0.243 0.555 0.525 4456 DNEX 0.540 0.010 74423.9 0.540 12.83 0.93 947.9 1.830 1.210 1.280 1.230 5237 MPHBCAP 1.270 0.030 716 1.264 13.66 — 908.1
1.335 1.023 1.270 1.170 5216 DSONIC 1.220 0.040 8690.7 1.226 26.93 3.28 1,647.0 1.300 1.210 1.280 1.250 6009 P&O 1.250 0.010 75.2 1.251 38.70 6.80 307.4
0.295 0.135 0.140 0.135 2097 EASTLND 0.135 UNCH 414.8 0.137 — — 33.2 21.080 19.127 20.860 20.740 1295 PBBANK 20.760 UNCH 3908.6 20.76 14.66 2.84 80,593.2
0.735 0.350 0.390 0.380 5259 EATECH 0.380 -0.010 796.8 0.384 — — 191.5 1.887 1.317 1.550 1.490 9296 RCECAP 1.550 0.050 566.9 1.532 6.09 1.94 551.2
0.825 0.210 0.545 0.535 5036 EDARAN 0.540 -0.005 121.8 0.541 — — 32.4 5.495 4.555 5.170 5.030 1066 RHBBANK 5.140 0.080 2474.2 5.138 11.76 2.33 20,611.6
0.290 0.170 0.180 0.175 7471 EDEN 0.180 UNCH 390.4 0.179 — — 56.0 0.708 0.436 0.620 0.605 4898 TA 0.620 0.010 954.2 0.614 2.91 2.74 1,061.4
3.266 2.213 2.540 2.470 1368 EDGENTA 2.480 0.020 539.6 2.502 21.03 3.23 2,062.4 4.080 3.226 3.640 3.560 6139 TAKAFUL 3.600 -0.050 47.2 3.609 15.60 4.17 2,963.3
0.590 0.235 0.350 0.335 0064 EFFICEN 0.345 0.010 3236.6 0.344 — — 244.6 1.620 0.980 1.130 1.080 5230 TUNEPRO 1.100 0.020 1704.8 1.102 15.26 4.73 826.9
0.955 0.631 0.780 0.780 5081 EIG 0.780 0.080 0.7 0.780 21.79 3.85 185.0 PROPERTIES
2.087 1.100 1.620 1.610 5208 EITA 1.610 UNCH 58 1.615 10.50 2.48 209.3 0.852 0.720 0.750 0.745 1007 AMPROP 0.750 0.005 72.5 0.746 12.95 4.00 456.5
1.508 1.070 1.110 1.080 5056 ENGTEX 1.090 -0.010 2582.8 1.092 6.57 0.69 483.2 0.409 0.333 0.355 0.355 1007PA AMPROP-PA 0.355 UNCH 4.1 0.355 — 5.63 102.9
0.605 0.370 0.535 0.505 6939 FIAMMA 0.530 0.025 564.2 0.511 12.07 2.83 280.9 1.850 0.990 1.400 1.350 5959 AMVERTON 1.400 UNCH 29 1.379 29.35 — 511.1
0.440 0.355 0.405 0.400 9318 FITTERS 0.405 UNCH 353 0.400 — — 194.6 0.230 0.150 0.165 0.160 4057 ASIAPAC 0.165 0.005 2469.8 0.160 10.51 — 170.3
1.423 1.050 1.310 1.270 7210 FREIGHT 1.300 0.030 177.4 1.297 10.99 3.85 242.0 7.600 6.300 — — 2305 AYER 6.700 — — — 32.01 0.75 501.5
0.505 0.168 0.505 0.485 0128 FRONTKN 0.485 0.005 30182.6 0.494 16.39 1.03 510.9 0.525 0.420 0.500 0.490 6602 BCB 0.500 0.010 12 0.495 24.04 — 206.3
0.295 0.160 — — 9377 FSBM 0.230 — — — — — 32.5 0.793 0.595 0.610 0.600 6173 BDB 0.600 -0.010 51 0.604 7.04 7.50 182.3
3.054 2.352 2.900 2.840 5209 GASMSIA 2.900 0.040 318.7 2.874 22.00 4.43 3,723.6 0.610 0.375 — — 9814 BERTAM 0.410 — — — 1.66 — 84.8
0.820 0.575 0.640 0.605 0078 GDEX 0.635 0.025 2851.9 0.624 96.21 0.39 3,540.9 0.700 0.405 0.455 0.440 3239 BJASSET 0.440 -0.015 1182.3 0.445 6.81 — 1,125.6
6.259 4.408 5.820 5.750 4715 GENM 5.800 0.020 8451.2 5.791 13.69 1.76 34,440.7 1.500 1.140 1.320 1.260 5738 CHHB 1.280 -0.020 21.8 1.299 — — 352.9
9.960 7.724 9.500 9.300 3182 GENTING 9.370 0.060 3418 9.437 14.67 1.23 36,091.2 1.673 1.363 1.490 1.480 6718 CRESNDO 1.480 -0.020 9 1.482 9.39 4.05 415.1
0.330 0.185 — — 5079 GETS 0.205 — — — — — 25.8 1.720 1.358 1.510 1.510 5049 CVIEW 1.510 UNCH 2 1.510 5.36 9.93 151.0
3.670 2.689 3.620 3.500 3204 GKENT 3.610 0.110 857.3 3.570 17.76 1.99 2,033.4 2.375 2.063 2.240 2.200 5355 DAIMAN 2.200 UNCH 34.6 2.212 21.89 2.50 466.8
0.555 0.360 0.425 0.370 7676 GUNUNG 0.425 0.045 54.7 0.375 — — 100.4 0.993 0.477 0.545 0.520 3484 DBHD 0.545 0.030 484.7 0.536 — — 169.2

* Volume Weighted Average Price # PE is calculated based on latest 12 months reported Earnings Per Share
THU R S DAY JA N UA RY 4 , 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)
0.115 0.075 0.085 0.080 7198 DPS 0.085 0.005 476.6 0.085 — — 50.0 6.520 1.736 6.310 6.190 0097 VITROX 6.210 -0.010 1945.8 6.220 35.85 0.56 2,919.7
2.089 1.350 1.430 1.420 3417 E&O 1.430 UNCH 1061.9 1.428 15.08 2.10 1,897.2 1.750 0.729 1.240 1.180 0008 WILLOW 1.230 0.050 1149.4 1.207 14.39 1.63 305.0
0.325 0.255 0.305 0.300 3557 ECOFIRS 0.305 UNCH 246 0.302 13.03 — 245.0 INFRASTRUCTURE PROJECT COMPANIES
1.720 1.340 1.440 1.380 8206 ECOWLD 1.400 0.010 2083 1.401 19.02 — 4,122.1 5.100 4.360 4.930 4.880 6947 DIGI 4.880 -0.010 5186.2 4.895 25.43 2.91 37,942.0
0.920 0.575 0.655 0.650 6076 ENCORP 0.655 0.010 13 0.651 12.60 — 192.5 6.000 5.400 5.610 5.490 6645 LITRAK 5.610 0.120 589.5 5.502 13.66 5.35 2,960.4
3.180 1.940 — — 8613 ENRA 2.890 — — — 37.58 1.04 393.6 9.900 7.607 9.110 8.960 5031 TIMECOM 9.000 -0.100 4636.2 9.000 22.48 2.21 5,233.1
1.300 0.770 1.110 1.090 6815 EUPE 1.100 UNCH 58.2 1.096 — — 140.8 1.443 1.110 1.310 1.270 6742 YTLPOWR 1.310 0.040 1757 1.292 15.34 3.82 10,684.3
0.863 0.400 0.440 0.430 7249 EWEIN 0.440 UNCH 149 0.437 9.87 1.14 132.7 CLOSED-END FUNDS
1.360 0.955 1.020 1.010 5283 EWINT 1.020 -0.010 249.5 1.013 — — 2,448.0 2.860 2.390 2.850 2.780 5108 ICAP 2.850 0.010 6.2 2.797 179.25 — 399.0
0.617 0.468 0.500 0.490 6041 FARLIM 0.500 0.010 52 0.492 7.68 4.00 70.2 EXCHANGE TRADED FUNDS
0.712 0.580 0.610 0.600 5020 GLOMAC 0.610 UNCH 24 0.606 55.45 4.92 444.0 1.140 1.100 — — 0800EA ABFMY1 1.140 — — — — 4.98 1,442.6
0.511 0.363 0.415 0.385 9962 GMUTUAL 0.410 0.010 130 0.402 10.51 4.88 154.0 2.210 1.790 1.970 1.965 0822EA CIMBA40 1.970 0.005 14 1.969 — 3.75 5.3
0.470 0.300 0.335 0.325 1147 GOB 0.335 0.010 659.9 0.331 24.45 1.49 152.3 1.720 1.350 1.680 1.680 0823EA CIMBC50 1.680 0.005 1.5 1.680 — — 16.4
0.150 0.090 0.115 0.110 7077 GSB 0.110 UNCH 847 0.110 — — 58.1 1.865 1.700 — — 0820EA FBMKLCI-EA 1.850 — — — — 1.78 3.1
1.426 1.092 1.150 1.130 1503 GUOCO 1.140 -0.010 276.6 1.139 6.23 1.75 798.5 1.770 1.705 1.770 1.770 0828EA GOLDETF 1.770 0.015 5 1.770 — — 32.9
1.430 0.829 — — 7105 HCK 1.320 — — — 101.5 — 555.9 1.100 1.000 — — 0826EA METFAPA 1.060 — — — — — 20.1
1.210 0.380 0.800 0.750 7010 HOOVER 0.800 0.050 51.5 0.790 129.03 — 32.0 0.952 0.886 — — 0825EA METFSID 0.900 — — — — 2.60 47.7
1.160 0.595 0.610 0.605 5062 HUAYANG 0.610 UNCH 371.1 0.610 9.59 6.56 214.7 1.140 1.060 — — 0821EA MYETFDJ 1.135 — — — — 1.96 313.6
0.648 0.510 0.535 0.530 4251 IBHD 0.530 UNCH 179.4 0.532 7.53 3.55 534.3 1.140 1.015 — — 0824EA MYETFID 1.135 — — — — 1.34 54.5
1.020 0.755 — — 5084 IBRACO 0.815 — — — 31.47 2.45 404.6 REITS
0.890 0.595 0.700 0.700 9687 IDEAL 0.700 0.025 9 0.700 4.14 — 77.3 0.963 0.830 0.850 0.830 4952 AHP 0.850 0.020 8.1 0.830 80.19 4.94 187.0
2.980 2.328 2.970 2.960 1597 IGB 2.960 UNCH 59.7 2.961 13.25 3.38 4,041.3 1.615 1.350 1.410 1.370 5116 ALAQAR 1.400 0.010 14 1.405 16.55 5.39 1,019.5
2.158 1.790 1.950 1.830 5249 IOIPG 1.950 0.110 1937.4 1.891 10.90 3.08 10,737.0 1.040 0.965 0.985 0.975 5269 ALSREIT 0.975 0.005 14.9 0.977 11.65 6.41 565.5
0.620 0.315 0.335 0.320 5175 IVORY 0.335 0.015 301 0.326 15.02 — 164.2 0.799 0.670 0.680 0.670 5120 AMFIRST 0.675 UNCH 105.4 0.675 18.80 6.30 463.3
3.290 0.800 1.460 1.410 1589 IWCITY 1.420 UNCH 11338.4 1.438 42.26 — 1,189.1 0.949 0.900 0.910 0.905 5127 ARREIT 0.905 UNCH 48 0.907 13.15 6.15 518.8
0.370 0.240 0.370 0.290 8923 JIANKUN 0.330 0.025 2131.4 0.317 — — 55.1 1.189 1.007 1.120 1.110 5130 ATRIUM 1.120 0.010 20.5 1.115 22.00 6.38 136.4
0.143 0.085 0.095 0.090 6769 JKGLAND 0.090 UNCH 2108 0.092 13.24 2.56 204.7 1.645 1.440 1.480 1.460 5106 AXREIT 1.480 0.010 330.7 1.471 15.97 5.91 1,823.8
0.085 0.045 0.070 0.065 3115 KBUNAI 0.065 UNCH 17102.7 0.065 12.50 — 375.5 1.830 1.390 1.470 1.420 5180 CMMT 1.440 0.010 223.2 1.434 19.41 5.81 2,934.4
1.100 0.818 — — 7323 KEN 0.890 — — — 3.81 2.81 170.6 1.532 1.140 1.190 1.180 5121 HEKTAR 1.190 UNCH 82.4 1.182 14.95 9.61 549.7
1.330 0.995 1.090 1.050 5038 KSL 1.070 0.010 1028.5 1.071 3.76 — 1,110.1 1.800 1.550 1.630 1.600 5227 IGBREIT 1.600 -0.010 827.4 1.617 18.89 5.43 5,621.5
0.268 0.205 0.220 0.210 3174 L&G 0.215 0.005 7969.2 0.215 6.91 — 629.9 0.991 0.830 0.865 0.845 5280 KIPREIT 0.865 UNCH 74.3 0.850 13.95 4.53 437.1
1.287 1.000 1.030 1.000 8494 LBICAP 1.030 0.020 57.5 1.020 542.11 10.19 83.1 8.640 7.438 8.000 7.870 5235SS KLCC 7.890 -0.020 167.1 7.908 16.19 4.52 14,244.1
2.380 1.533 2.380 2.360 5789 LBS 2.370 UNCH 661.9 2.369 14.45 1.69 1,628.2 1.320 1.165 1.240 1.230 5123 MQREIT 1.240 UNCH 1337.1 1.240 15.86 10.23 1,324.3
0.460 0.235 0.345 0.335 3573 LIENHOE 0.345 0.020 429.9 0.341 — — 124.8 1.866 1.590 1.620 1.610 5212 PAVREIT 1.620 UNCH 188 1.615 16.40 4.96 4,908.8
1.690 1.180 — — 7617 MAGNA 1.300 — — — — 4.62 435.4 1.900 1.575 1.720 1.700 5176 SUNREIT 1.710 0.010 915.9 1.710 11.45 5.61 5,036.1
1.590 1.319 1.490 1.450 8583 MAHSING 1.490 0.030 377.7 1.472 11.15 4.36 3,614.8 1.220 1.095 1.210 1.200 5111 TWRREIT 1.210 -0.010 43.7 1.208 18.14 5.73 339.4
1.892 0.634 1.020 0.930 6181 MALTON 0.975 0.040 7952.5 0.975 6.01 2.56 514.8 1.796 1.600 1.610 1.610 5110 UOAREIT 1.610 -0.010 5 1.610 15.54 5.86 680.8
2.258 1.765 2.210 2.190 5236 MATRIX 2.210 0.010 668.2 2.200 8.71 5.27 1,642.1 1.280 1.027 1.220 1.210 5109 YTLREIT 1.220 0.010 129.4 1.214 55.20 5.25 2,079.4
2.020 0.975 2.000 1.990 7189 MBWORLD 2.000 UNCH 26 1.991 8.05 1.75 314.8 SPAC
1.200 0.755 0.860 0.840 5182 MCT 0.845 0.015 3883.1 0.845 18.17 — 1,127.9 0.720 0.715 — — 5234 CLIQ 0.720 — — — — — 454.3
0.525 0.395 0.450 0.435 5040 MEDAINC 0.450 -0.030 1.4 0.443 — — 221.6 0.475 0.430 0.465 0.465 5270 RSENA 0.465 UNCH 500 0.465 — — 465.0
1.020 0.745 0.915 0.880 1694 MENANG 0.915 0.025 468.4 0.898 22.48 — 244.4 0.480 0.475 — — 5241 SONA 0.475 — — — — — 670.1
0.605 0.255 0.380 0.345 8141 MJPERAK 0.375 0.020 721 0.372 — 5.71 96.4
2.539 1.583 1.840 1.710 6114 MKH 1.830 0.150 1660.4 1.783 6.46 2.73 1,072.3
0.360 0.235 0.245 0.235 8893 MKLAND 0.240 0.005 557.9 0.239 15.79 — 289.7
0.215 0.095 0.150 0.120 6548 MPCORP 0.150 0.040 1945 0.139 — — 43.1
1.536 0.870 1.270 1.170 1651 MRCB 1.250 0.090 82501.5 1.233 12.23 1.92 5,483.4
1.080 0.525
0.365 0.260
0.620
0.270
0.585
0.270
9539
3913
MUH
MUIPROP
0.620
0.270
0.030
UNCH 1015
9 0.612 —
0.270 225.00
—
—
35.0
206.3
Ace Market
1.760 1.020 1.220 1.200 5073 NAIM 1.200 -0.030 357.4 1.208 — — 300.0 YEAR YEAR DAY DAY CODE COUNTER CLOSING +/– VOL VWAP* PE# DY MKT CAP
2.881 2.192 2.380 2.380 5827 OIB 2.380 UNCH 10 2.380 8.82 2.94 344.8 HIGH LOW HIGH LOW (RM) (RM) (‘000) (RM) (X) (%) (MIL)
1.116 1.020 1.060 1.040 5053 OSK 1.060 0.020 456.9 1.048 5.29 4.72 2,221.0
1.849 1.314 1.830 1.790 1724 PARAMON 1.810 0.020 778.2 1.808 5.51 4.70 768.0 CONSUMER PRODUCTS
0.695 0.490 0.595 0.585 6912 PASDEC 0.590 0.015 192.5 0.587 — — 168.7 0.285 0.205 0.255 0.245 0179 BIOHLDG 0.250 Unch 2379.5 0.249 28.41 0.40 202.3
1.983 0.901 1.870 1.820 7055 PLB 1.870 0.050 13 1.850 50.95 0.43 210.2 0.300 0.190 0.225 0.200 0170 KANGER 0.205 Unch 7248.5 0.213 19.71 — 163.7
1.766 1.495 1.600 1.570 5075 PLENITU 1.570 0.010 9.6 1.582 10.30 2.87 599.0 0.295 0.195 0.205 0.200 0182 LKL 0.205 -0.005 120 0.202 93.18 1.71 87.9
0.425 0.245 — — 2208 PTGTIN 0.375 — — — — — 129.8 0.450 0.200 0.300 0.300 0148 SUNZEN 0.300 Unch 227.5 0.300 28.57 1.00 144.7
1.270 0.800 0.835 0.820 4596 SAPRES 0.835 0.035 6.5 0.832 8.85 3.59 116.6 0.065 0.030 0.050 0.045 0095 XINGHE 0.050 0.005 5152.7 0.046 4.72 — 117.4
0.820 0.545 0.570 0.560 5207 SBCCORP 0.560 UNCH 207 0.560 — — 131.5 INDUSTRIAL PRODUCTS
1.139 0.793 1.070 1.060 2224 SDRED 1.060 -0.010 85.9 1.063 8.36 2.36 451.7 0.192 0.105 0.135 0.125 0105 ASIAPLY 0.130 -0.005 722.3 0.130 14.29 3.85 43.4
0.580 0.380 0.435 0.420 4286 SEAL 0.435 0.010 90 0.429 — — 105.7 0.130 0.090 0.115 0.110 0072 AT 0.115 Unch 861.6 0.110 — — 48.5
0.445 0.255 0.320 0.315 0163 CAREPLS 0.320 0.005 780.2 0.320 228.57 — 162.0
2.860 2.680 2.710 2.690 6017 SHL 2.700 UNCH 19.7 2.702 8.06 — 653.7 0.330 0.120 0.225 0.210 0102 CONNECT 0.220 Unch 2646.5 0.218 23.91 — 70.9
1.780 1.040 1.560 1.460 5288 SIMEPROP 1.520 0.060 6153.6 1.515 1.70 — 10,337.3 0.443 0.320 0.330 0.320 0190 ESAFE 0.325 Unch 190.2 0.328 47.79 — 78.2
0.305 0.140 0.215 0.205 4375 SMI 0.210 0.010 367.2 0.207 1.63 — 44.1 0.505 0.235 0.290 0.285 0100 ESCERAM 0.285 -0.005 123 0.290 11.78 2.11 58.6
0.907 0.599 0.685 0.675 5213 SNTORIA 0.685 0.015 60 0.676 9.77 — 388.6 0.370 0.215 0.275 0.275 0175 HHGROUP 0.275 0.005 354.5 0.275 38.19 — 84.9
5.500 4.211 4.880 4.840 1783 SPB 4.880 0.050 5.7 4.866 18.11 2.46 1,676.8 0.145 0.075 0.120 0.105 0160 HHHCORP 0.115 0.010 5630.5 0.112 20.91 — 38.3
4.151 2.878 3.450 3.370 8664 SPSETIA 3.380 0.010 2305.3 3.396 11.35 5.76 11,585.9 0.355 0.222 0.295 0.275 0188 HLT 0.290 0.005 1829.2 0.284 — — 115.5
1.590 0.970 1.300 1.280 3743 SUNSURIA 1.300 UNCH 32.5 1.296 11.45 — 1,038.5 0.555 0.205 0.410 0.405 0162 IJACOBS 0.405 -0.005 622.2 0.406 34.32 — 55.4
1.035 0.609 0.740 0.720 1538 SYMLIFE 0.735 0.015 101.2 0.734 5.40 4.08 227.9 0.153 0.090 0.100 0.095 0024 JAG 0.095 -0.005 1155.2 0.097 12.67 0.95 130.9
0.510 0.280 0.340 0.300 4022 TADMAX 0.340 0.040 5814.4 0.328 — — 183.1 0.250 0.130 0.210 0.200 0025 LNGRES 0.205 Unch 1111.7 0.204 22.78 — 49.6
0.410 0.245 0.375 0.365 5158 TAGB 0.370 0.005 1062.9 0.370 6.41 1.08 1,969.0 0.115 0.040 0.070 0.060 0070 MQTECH 0.060 -0.005 14505.6 0.065 — — 24.9
0.055 0.035 0.045 0.040 2259 TALAMT 0.040 UNCH 177 0.040 — — 168.8 0.848 0.390 0.715 0.700 0049 OCNCASH 0.710 0.010 491.3 0.704 14.70 1.13 158.3
1.465 0.995 1.040 1.010 5191 TAMBUN 1.030 0.010 437.9 1.028 4.30 9.71 446.3 0.610 0.140 0.280 0.275 0038 PTB 0.275 Unch 60 0.278 — — 41.4
0.165 0.060 0.165 0.150 2429 TANCO 0.155 UNCH 1259.3 0.155 — — 102.6 0.175 0.100 0.115 0.110 0133 SANICHI 0.115 0.005 1599.6 0.112 — — 35.9
0.315 0.175 0.225 0.220 7889 THRIVEN 0.220 0.005 50 0.220 — — 82.9 0.060 0.025 0.045 0.040 0109 SCBUILD 0.045 0.005 11904.4 0.041 — — 39.7
0.085 0.040 0.045 0.040 7079 TIGER 0.045 UNCH 1547 0.043 — — 74.3 0.440 0.125 0.440 0.410 0001 SCOMNET 0.420 0.010 14897.6 0.426 41.58 — 102.1
0.910 0.650 0.685 0.655 5239 TITIJYA 0.665 -0.025 776 0.666 6.73 0.38 894.0 0.289 0.147 0.205 0.190 0028 SCOPE 0.195 Unch 271.8 0.194 26.71 2.56 109.3
1.060 0.880 0.920 0.910 5401 TROP 0.920 0.005 356.2 0.917 8.93 2.17 1,352.8 0.290 0.140 0.180 0.165 0055 SERSOL 0.175 Unch 769.3 0.173 — — 37.7
1.360 1.010 1.180 1.110 5148 UEMS 1.170 0.070 10855.3 1.151 17.97 — 5,308.8 0.875 0.137 0.615 0.590 0084 TECFAST 0.600 0.005 2035.1 0.605 31.91 0.63 136.9
TECHNOLOGY
2.700 2.190 2.420 2.380 5200 UOADEV 2.420 UNCH 162.1 2.391 6.09 6.20 4,196.9 0.995 0.285 0.595 0.560 0018 ACCSOFT 0.590 -0.015 46 0.581 27.83 — 491.3
0.525 0.210 0.235 0.220 6378 WMG 0.235 0.015 341.7 0.225 — — 100.1 0.750 0.210 0.680 0.660 0181 AEMULUS 0.675 0.010 3005.3 0.671 39.24 — 296.2
1.190 0.950 — — 7003 Y&G 1.000 — — — 35.71 — 199.4 0.455 0.310 0.400 0.385 0119 APPASIA 0.390 0.010 3823 0.389 — — 134.6
1.620 1.300 1.420 1.400 3158 YNHPROP 1.410 -0.010 265.2 1.406 25.54 — 745.9 0.450 0.120 0.185 0.155 0068 ASDION 0.165 0.020 590.4 0.172 — — 19.2
1.680 1.210 1.620 1.540 7066 YONGTAI 1.590 0.050 4691.4 1.585 39.45 — 764.2 1.050 0.580 0.715 0.660 0098 BAHVEST 0.710 0.045 1472.2 0.700 — — 427.2
0.670 0.500 0.525 0.510 2577 YTLLAND 0.525 0.015 134.4 0.521 8.40 — 443.3 0.764 0.585 0.660 0.640 0191 CABNET 0.650 Unch 180.3 0.651 12.67 — 84.5
MINING 0.230 0.030 0.230 0.180 0152 DGB 0.215 0.035 103257 0.206 153.57 — 115.9
1.630 1.150 1.440 1.400 2186 KUCHAI 1.420 UNCH 103.5 1.419 3.54 0.68 175.7 0.145 0.025 0.145 0.135 0131 DGSB 0.140 Unch 72836.8 0.138 1400.0 — 189.8
PLANTATIONS 0.068 0.028 0.045 0.040 0154 EAH 0.045 0.005 4541.7 0.041 32.14 — 156.5
0.285 0.190 0.200 0.200 7054 AASIA 0.200 UNCH 52 0.200 — — 132.0 0.220 0.115 0.135 0.130 0107 EDUSPEC 0.135 Unch 626.2 0.135 — — 135.2
20.100 17.742 — — 1899 BKAWAN 19.800 — — — 13.65 3.03 8,631.8 0.500 0.080 0.425 0.415 0116 FOCUS 0.420 0.005 1195.2 0.419 — — 328.5
8.639 8.340 — — 5069 BLDPLNT 8.340 — — — 36.50 0.48 779.8 1.750 0.820 1.220 1.200 0104 GENETEC 1.210 Unch 110.2 1.204 — — 42.9
1.704 1.453 1.690 1.650 5254 BPLANT 1.680 0.030 1229 1.672 3.96 7.14 2,688.0 0.090 0.035 — — 0045 GNB 0.035 — — — — — 10.1
1.000 0.776 0.820 0.805 8982 CEPAT 0.815 UNCH 192.7 0.814 8.71 1.84 259.5 0.195 0.075 0.170 0.165 0074 GOCEAN 0.170 0.005 285.6 0.165 — — 49.3
8.244 7.360 — — 1929 CHINTEK 7.550 — — — 17.02 2.65 689.8 0.100 0.040 0.070 0.065 0174 IDMENSN 0.070 0.005 5750.4 0.069 70.00 — 38.1
0.735 0.395 0.595 0.555 3948 DUTALND 0.595 0.050 4032.8 0.579 175.00 — 503.4 0.533 0.252 0.390 0.375 0023 IFCAMSC 0.385 0.005 5845.8 0.382 20.26 1.30 234.2
9.693 7.821 9.000 9.000 5029 FAREAST 9.000 UNCH 4 9.000 9.41 3.33 1,272.5 0.145 0.060 0.145 0.135 0094 INIX 0.140 0.005 12292.6 0.140 — — 35.4
2.108 1.468 1.960 1.810 5222 FGV 1.860 0.060 38051.5 1.896 34.07 0.54 6,785.6 0.220 0.110 0.205 0.185 0010 IRIS 0.200 0.010 69797.1 0.196 — — 494.4
11.614 10.200 10.680 10.380 2291 GENP 10.500 UNCH 513.3 10.475 19.77 1.29 8,435.7 1.450 0.266 1.360 1.310 0146 JFTECH 1.330 0.030 338.3 1.334 38.78 0.90 279.3
3.398 0.788 3.000 2.970 0127 JHM 3.000 Unch 520.4 2.984 24.96 0.50 788.4
0.658 0.550 — — 7382 GLBHD 0.590 — — — 393.3 1.69 131.5 0.270 0.150 0.210 0.200 0111 K1 0.200 Unch 1466.4 0.206 — — 103.8
1.430 1.105 1.370 1.370 2135 GOPENG 1.370 UNCH 139.5 1.370 48.58 2.92 245.7 0.460 0.100 0.160 0.150 0036 KGROUP 0.155 Unch 21307.2 0.157 — — 66.3
0.890 0.605 0.630 0.630 7501 HARNLEN 0.630 0.010 0.2 0.630 18.86 — 116.9 1.280 0.310 0.945 0.905 0176 KRONO 0.935 0.030 6679.1 0.929 21.95 — 306.7
2.700 2.362 2.570 2.550 5138 HSPLANT 2.550 UNCH 522 2.550 15.23 5.69 2,040.0 0.170 0.045 0.145 0.140 0017 M3TECH 0.140 Unch 6033.7 0.141 — — 82.2
3.519 2.700 2.750 2.730 2216 IJMPLNT 2.750 0.040 157 2.749 33.70 2.55 2,421.6 0.650 0.225 0.600 0.575 0075 MEXTER 0.575 -0.015 899.5 0.584 — — 139.1
0.734 0.650 0.685 0.675 2607 INCKEN 0.685 -0.010 40 0.675 — 1.64 288.2 0.535 0.350 — — 0155 MGRC 0.350 — — — — — 36.2
1.452 1.026 — — 6262 INNO 1.170 — — — 15.00 1.71 560.3 1.200 0.610 0.755 0.745 0126 MICROLN 0.755 -0.005 55 0.749 12.24 — 126.4
4.757 4.310 4.570 4.520 1961 IOICORP 4.530 -0.010 2810.2 4.536 29.06 2.10 28,465.9 0.583 0.430 0.470 0.460 0112 MIKROMB 0.465 0.005 602.5 0.466 19.54 3.08 200.4
1.460 1.000 1.120 1.090 4383 JTIASA 1.110 0.010 2110 1.106 50.68 0.45 1,080.8 0.465 0.065 0.090 0.085 0085 MLAB 0.085 -0.005 4444.5 0.086 — — 48.5
25.137 22.521 24.960 24.640 2445 KLK 24.800 0.080 704.4 24.783 26.26 2.02 26,474.1 0.268 0.153 0.215 0.200 0034 MMAG 0.205 -0.005 4908.5 0.207 — — 93.4
3.690 2.982 — — 2453 KLUANG 3.500 — — — 52.55 0.29 221.1 2.028 0.527 1.820 1.760 0113 MMSV 1.800 0.020 894.3 1.794 13.90 1.11 293.4
4.900 3.209 4.520 4.360 5027 KMLOONG 4.490 0.150 82.4 4.464 14.51 3.79 1,400.0 0.130 0.055 0.090 0.085 0103 MNC 0.090 Unch 1011.8 0.089 — — 43.1
0.682 0.515 0.540 0.535 1996 KRETAM 0.535 UNCH 441 0.536 35.91 1.87 1,245.3 0.310 0.170 0.240 0.225 0156 MPAY 0.240 0.015 14428.2 0.237 — — 170.5
1.750 1.350 1.410 1.410 6572 KWANTAS 1.410 UNCH 20 1.410 11.06 — 439.5 0.684 0.121 0.170 0.160 0092 MTOUCHE 0.165 Unch 1298.4 0.165 23.91 — 83.9
1.500 1.200 — — 4936 MALPAC 1.200 — — — — — 90.0 1.140 0.616 0.970 0.915 0108 N2N 0.970 0.050 4095.6 0.950 21.51 2.06 462.8
0.949 0.790 0.880 0.840 5026 MHC 0.845 0.015 91.7 0.849 10.48 1.78 166.1 0.110 0.020 0.045 0.040 0020 NETX 0.045 0.005 17650 0.044 18.00 — 88.8
2.388 1.700 — — 5047 NPC 1.950 — — — 6.54 0.51 234.0 0.055 0.030 0.040 0.035 0096 NEXGRAM 0.035 -0.005 492 0.036 — — 65.9
4.206 3.671 3.800 3.700 2038 NSOP 3.800 UNCH 11 3.736 30.77 1.58 266.8 0.145 0.070 0.145 0.140 0026 NOVAMSC 0.140 -0.005 13329.2 0.141 — — 95.7
0.662 0.355 0.375 0.360 0035 OPCOM 0.365 Unch 683 0.366 21.35 10.96 58.9
0.315 0.185 — — 1902 PINEPAC 0.200 — — — — — 30.0
0.379 0.280 0.300 0.290 0040 OPENSYS 0.300 0.010 523.6 0.294 18.99 3.33 89.4
1.380 0.850 — — 9695 PLS 0.850 — — — — — 277.7 0.380 0.115 0.135 0.115 0079 ORION 0.125 0.005 21467.2 0.125 — — 74.9
0.550 0.365 0.395 0.375 5113 RSAWIT 0.395 0.020 517.6 0.385 — — 560.3 0.015 0.005 — — 0022 PARLO 0.050 — — — — — 0.5
3.914 3.341 — — 2542 RVIEW 3.850 — — — 14.35 2.08 249.7 0.230 0.135 0.165 0.160 0123 PRIVA 0.165 0.005 1445.5 0.160 — — 92.1
3.259 2.891 3.070 3.070 2569 SBAGAN 3.070 -0.010 6.6 3.070 — 0.65 203.6 0.944 0.535 0.810 0.780 0106 REXIT 0.805 0.025 312.8 0.802 18.55 3.73 152.4
0.720 0.510 — — 4316 SHCHAN 0.600 — — — — — 72.0 0.430 0.261 0.340 0.325 0178 SEDANIA 0.330 0.005 769.3 0.333 76.74 3.03 74.5
6.000 4.580 5.530 5.450 5285 SIMEPLT 5.500 0.010 8627.8 5.499 10.25 — 37,404.6 0.190 0.055 0.095 0.085 0060 SKH 0.090 0.005 5142.6 0.090 37.50 — 49.9
4.720 3.480 3.960 3.900 5126 SOP 3.900 -0.060 130.4 3.938 9.57 1.28 2,226.2 0.275 0.120 0.225 0.215 0169 SMTRACK 0.220 0.005 1531.9 0.217 — — 29.9
1.870 1.520 1.770 1.760 5135 SWKPLNT 1.760 0.010 65.8 1.762 14.22 — 492.8 0.343 0.205 0.240 0.225 0093 SOLUTN 0.240 0.015 1114.8 0.232 8.22 4.17 73.5
0.730 0.435 0.470 0.460 2054 TDM 0.460 UNCH 353.7 0.464 418.18 1.09 762.6 0.360 0.115 0.180 0.170 0129 SRIDGE 0.170 -0.010 337.5 0.176 — — 20.6
1.184 1.020 1.080 1.040 5112 THPLANT 1.050 -0.010 137 1.053 5.90 1.52 928.0 0.470 0.220 0.375 0.355 0050 SYSTECH 0.365 0.015 6633.8 0.364 68.87 0.82 126.9
1.918 1.560 1.660 1.650 9059 TSH 1.660 UNCH 103 1.654 32.11 1.20 2,293.8 0.180 0.130 0.140 0.135 0132 TDEX 0.135 -0.005 272.5 0.135 112.50 — 66.7
7.080 5.656 6.600 6.520 2593 UMCCA 6.590 0.070 44.6 6.572 16.85 2.73 1,381.2 0.515 0.055 0.465 0.440 0005 UCREST 0.455 0.010 18622 0.454 52.91 — 155.8
28.400 25.474 28.060 28.000 2089 UTDPLT 28.000 -0.040 8.4 28.059 14.53 1.43 5,827.8 0.965 0.224 0.620 0.590 0120 VIS 0.600 -0.020 2008.3 0.601 14.96 0.55 101.1
HOTELS 0.190 0.115 0.140 0.135 0069 VIVOCOM 0.140 Unch 6158.4 0.139 33.33 — 475.1
0.628 0.505 — — 5592 GCE 0.525 — — — — 3.81 103.4 0.155 0.070 0.140 0.135 0066 VSOLAR 0.135 -0.005 1644 0.135 — — 52.1
1.000 0.690 0.875 0.855 1643 LANDMRK 0.860 0.010 820.4 0.866 — — 454.8 0.070 0.020 — — 0141 WINTONI 0.035 — — — — — 18.0
0.230 0.125 0.155 0.150 1287 PMHLDG 0.150 -0.005 295 0.153 375.00 — 139.3 0.275 0.090 0.190 0.180 0086 YGL 0.185 -0.005 285.6 0.184 — — 43.0
5.588 4.832 5.070 5.020 5517 SHANG 5.070 0.050 12 5.066 28.95 2.76 2,230.8 TRADING SERVICES
0.400 0.210 0.255 0.255 0122 AIM 0.255 0.005 1 0.255 — — 67.8
TECHNOLOGY 0.165 0.070 0.120 0.110 0048 ANCOMLB 0.110 0.005 316.7 0.115 — — 52.1
0.880 0.600 0.670 0.670 7031 AMTEL 0.670 0.005 10 0.670 — — 33.0 0.250 0.155 0.175 0.165 0187 BCMALL 0.170 0.005 1912.1 0.170 28.81 — 71.6
0.420 0.200 0.290 0.280 5195 CENSOF 0.285 0.010 5534.5 0.284 — — 143.0 0.392 0.280 0.290 0.280 0011 BTECH 0.280 -0.010 30 0.283 17.72 5.71 70.6
0.630 0.110 0.630 0.590 0051 CUSCAPI 0.595 -0.005 17446.1 0.606 — — 295.4 0.235 0.118 0.170 0.155 0150 FINTEC 0.165 0.005 50037.1 0.164 1.01 — 76.7
0.790 0.298 0.790 0.760 7204 D&O 0.760 -0.025 7321.7 0.770 50.00 — 763.1 0.320 0.180 0.190 0.190 0157 FOCUSP 0.190 Unch 95 0.190 — — 31.4
0.710 0.135 0.350 0.330 8338 DATAPRP 0.350 0.020 14108.7 0.342 — — 147.5 0.759 0.430 0.550 0.505 0039 GFM 0.545 0.035 636.3 0.526 22.24 2.66 233.3
0.235 0.120 0.125 0.125 0029 DIGISTA 0.125 0.005 1932.8 0.125 — — 82.3 0.900 0.600 0.620 0.610 0147 INNITY 0.610 -0.030 22 0.615 — — 84.4
1.543 1.210 1.250 1.240 5162 ECS 1.250 UNCH 19 1.244 8.23 4.40 225.0 0.330 0.245 0.325 0.300 0193 KAB 0.315 0.015 28295.2 0.315 10.82 — 100.8
1.670 0.583 1.640 1.540 0065 EFORCE 1.580 0.030 2833.6 1.598 100.00 0.79 653.7 0.310 0.170 0.185 0.175 0180 KTC 0.185 Unch 232.5 0.179 97.37 — 94.4
2.895 1.324 2.750 2.690 0090 ELSOFT 2.700 -0.010 92.2 2.712 24.06 1.85 743.6 0.350 0.135 — — 0167 MCLEAN 0.170 — — — — — 30.4
1.870 0.870 1.560 1.510 0021 GHLSYS 1.520 -0.020 420.8 1.538 49.67 0.33 1,002.4 0.440 0.200 0.205 0.205 0081 MEGASUN 0.205 -0.005 0.6 0.205 10.30 — 45.0
0.580 0.230 0.580 0.540 0082 GPACKET 0.560 -0.010 16442.9 0.565 — — 424.9 0.280 0.170 0.225 0.175 0153 OVERSEA 0.195 0.020 171 0.178 — — 48.1
0.280 0.175 0.240 0.235 0056 GRANFLO 0.235 -0.005 124 0.235 16.21 — 113.5 0.200 0.115 0.145 0.140 0177 PASUKGB 0.145 Unch 2832.9 0.142 — — 117.7
6.900 3.384 6.700 6.480 7022 GTRONIC 6.700 0.110 973.4 6.620 58.36 0.60 1,911.5 0.450 0.260 0.390 0.360 0006 PINEAPP 0.390 0.005 11 0.363 69.64 — 18.9
0.940 0.508 0.740 0.700 5028 HTPADU 0.740 0.040 80.9 0.715 8.75 6.76 74.9 0.375 0.235 0.310 0.300 0171 PLABS 0.310 0.010 1307.7 0.308 18.67 2.26 66.6
3.600 1.938 3.600 3.420 0166 INARI 3.580 0.150 15918.2 3.525 28.41 2.40 7,346.0 0.350 0.123 0.300 0.285 0186 PTRANS 0.295 0.010 7807.7 0.293 13.05 2.47 370.9
0.435 0.115 0.145 0.145 9393 ITRONIC 0.145 -0.005 25 0.145 — — 14.9 0.355 0.065 0.340 0.325 0007 PUC 0.335 -0.005 24330 0.333 197.06 — 469.8
0.668 0.415 0.450 0.430 5161 JCY 0.440 0.010 2327.3 0.440 20.75 8.52 913.8 0.005 0.005 — — 0110 RA 0.005 — — — 10.00 — 4.8
20.500 9.402 20.200 19.500 9334 KESM 20.000 0.380 40.5 19.893 18.96 0.63 860.3 0.615 0.280 0.425 0.405 0032 REDTONE 0.405 -0.005 589.2 0.413 — — 307.1
0.635 0.380 0.425 0.405 0173 REV 0.420 0.010 1113.7 0.415 1.07 — 56.5
0.340 0.075 0.260 0.245 0143 KEYASIC 0.250 0.005 23504 0.252 — — 222.6 0.698 0.452 0.510 0.510 0158 SCC 0.510 Unch 25.7 0.510 11.70 6.12 72.0
14.410 7.208 12.680 12.300 3867 MPI 12.460 0.140 322.2 12.574 13.57 2.33 2,615.2 0.275 0.165 0.200 0.195 0161 SCH 0.200 Unch 435 0.198 47.62 4.25 82.4
1.467 0.965 1.200 1.200 5011 MSNIAGA 1.200 -0.030 2 1.200 12.71 4.17 72.5 0.300 0.145 0.185 0.175 0117 SMRT 0.175 -0.005 877.4 0.181 — — 63.3
1.327 0.448 0.665 0.620 0083 NOTION 0.645 0.015 3446.1 0.649 14.11 4.26 213.3 0.275 0.100 0.275 0.265 0140 STERPRO 0.275 0.010 7812.7 0.272 — — 78.7
0.605 0.435 0.550 0.525 9008 OMESTI 0.535 0.005 1658 0.539 — — 230.5 0.295 0.109 0.290 0.275 0080 STRAITS 0.280 0.005 12542 0.281 37.33 — 103.0
0.375 0.225 0.260 0.245 0041 PANPAGE 0.260 0.005 3644.7 0.259 — — 69.0 0.907 0.750 0.800 0.780 0089 TEXCYCL 0.800 0.010 59.6 0.798 10.80 0.50 205.0
3.140 0.614 3.020 2.820 7160 PENTA 2.850 -0.090 5753.8 2.881 25.45 — 902.3 0.230 0.120 0.155 0.150 0145 TFP 0.155 0.010 62.6 0.152 — — 31.8
0.675 0.250 0.490 0.470 9075 THETA 0.490 0.010 220.5 0.479 — — 52.5 0.145 0.095 0.110 0.100 0165 XOX 0.105 Unch 23109 0.105 16.41 — 98.4
0.232 0.040 0.050 0.045 0118 TRIVE 0.045 -0.005 5334.5 0.046 21.43 — 78.2 FINANCE
4.158 2.262 3.660 3.550 5005 UNISEM 3.560 -0.100 898 3.564 14.61 3.09 2,612.4 0.965 0.415 0.650 0.610 0053 OSKVI 0.635 -0.015 50.9 0.631 3.63 3.15 125.5

* Volume Weighted Average Price # PE is calculated based on latest 12 months reported Earnings Per Share
2 8 Markets T HU R SDAY JAN UARY 4, 2 0 1 8 • TH EEDGE F I 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
0.055 0.025 0.035 0.035 7096WA GPA-WA 0.035 Unch 570.5 0.095 0.100 42.11 03/06/2025
Main Market & Ace Market Warrants 0.130 0.085 0.105 0.105 7022CM GTRONIC-CM 0.105 -0.010 5 6.700 6.600 11.83 24/07/2018
0.275 0.110 0.120 0.120 7676WB GUNUNG-WB 0.120 0.005 60.9 0.425 0.400 22.35 02/10/2020
0.195 0.110 0.130 0.130 7668CD HAIO-CD 0.130 0.005 325 5.470 5.500 10.05 30/04/2018
YEAR YEAR DAY DAY CODE WARRANTS CLOSE +/- VOL PARENT EXE PR’M EXPIRY 0.600 0.130 0.520 0.500 5168C1 HARTA-C1 0.500 -0.040 76.3 10.400 6.500 0.96 30/04/2018
HIGH LOW HIGH LOW (RM) (RM) (‘000) PRICE PRICE (%) DATE 0.675 0.180 0.545 0.540 5168C2 HARTA-C2 0.540 -0.035 32 10.400 7.450 2.79 21/06/2018
0.530 0.245 0.430 0.405 5168C3 HARTA-C3 0.430 0.010 123 10.400 9.600 12.98 31/07/2018
0.340 0.180 0.260 0.245 5168C4 HARTA-C4 0.245 -0.030 1053 10.400 9.400 9.23 24/08/2018
0.315 0.155 0.275 0.275 70310 A50CHIN-C10 0.275 0.020 8 7.921 7.975 5.89 28/03/2018 0.355 0.260 0.265 0.260 5168C5 HARTA-C5 0.260 -0.015 20 10.400 10.00 12.40 25/06/2018
0.225 0.150 0.225 0.225 70312 A50CHIN-C12 0.225 0.055 20 7.921 8.747 14.69 28/06/2018 1.170 0.170 1.110 0.965 4324CE HENGYUAN-CE 0.975 -0.055 613.3 17.400 8.800 1.01 19/03/2018
0.110 0.025 0.040 0.040 523810 AAX-C10 0.040 0.005 110 0.365 0.400 20.55 26/04/2018 1.080 0.175 1.050 0.870 4324CF HENGYUAN-CF 0.890 -0.040 265.5 17.400 8.880 2.18 22/03/2018
0.120 0.035 0.060 0.050 523811 AAX-C11 0.055 0.005 1120 0.365 0.380 19.18 21/06/2018 1.280 0.265 1.200 1.100 4324CG HENGYUAN-CG 1.130 -0.040 33.1 17.400 7.000 5.17 30/03/2018
0.095 0.025 0.050 0.040 523812 AAX-C12 0.045 0.005 830 0.365 0.360 13.42 30/03/2018 0.995 0.125 0.965 0.810 4324CH HENGYUAN-CH 0.850 -0.060 7342.7 17.400 8.000 4.60 29/06/2018
0.310 0.145 0.185 0.175 5238WA AAX-WA 0.175 -0.005 5231.2 0.365 0.460 73.97 08/06/2020 0.620 0.145 0.600 0.520 4324CI HENGYUAN-CI 0.525 -0.030 2596.1 17.400 7.880 5.63 29/06/2018
0.120 0.035 0.055 0.050 7146WA AEM-WA 0.055 Unch 814 0.160 0.250 90.63 17/12/2019 0.595 0.125 0.580 0.500 4324CJ HENGYUAN-CJ 0.510 -0.030 10142.7 17.400 8.580 7.93 29/06/2018
0.330 0.060 0.135 0.125 7315WB AHB-WB 0.125 -0.005 322.2 0.265 0.200 22.64 28/08/2019 0.850 0.150 0.810 0.695 4324CK HENGYUAN-CK 0.740 -0.015 3878.7 17.400 10.50 36.90 24/07/2018
0.200 0.055 0.080 0.065 509953 AIRASIAC53 0.075 0.010 4224.7 3.410 3.200 0.44 02/02/2018 0.830 0.280 0.775 0.670 4324CL HENGYUAN-CL 0.675 -0.055 1662.1 17.400 10.60 7.47 31/07/2018
0.220 0.060 0.070 0.070 509957 AIRASIAC57 0.070 Unch 15 3.410 3.200 0.00 08/01/2018 0.670 0.330 0.635 0.515 4324CM HENGYUAN-CM 0.550 -0.030 10778.2 17.400 12.30 11.78 25/06/2018
0.185 0.095 0.130 0.120 509958 AIRASIAC58 0.130 0.015 2426 3.410 3.300 12.02 26/04/2018 0.225 0.075 0.180 0.175 5072WB HIAPTEK-WB 0.175 -0.005 1682.4 0.415 0.500 62.65 23/06/2021
0.510 0.130 0.335 0.295 5014CS AIRPORT-CS 0.310 0.020 267.7 8.740 7.350 0.06 02/02/2018 0.150 0.120 0.150 0.135 0188WA HLT-WA 0.140 0.005 1512.5 0.290 0.200 17.24 27/12/2022
0.275 0.065 0.105 0.105 5014CT AIRPORT-CT 0.105 0.010 2 8.740 8.200 1.03 25/01/2018 0.385 0.220 0.250 0.230 5160WA HOMERIZ-WA 0.240 0.010 22 0.905 0.920 28.18 09/07/2020
0.145 0.030 0.065 0.060 5014CV AIRPORT-CV 0.060 -0.005 321.1 8.740 8.800 5.49 30/04/2018 0.225 0.115 0.195 0.195 7213WB HOVID-WB 0.195 Unch 100 0.375 0.180 0.00 05/06/2018
0.420 0.165 0.205 0.185 7609WA AJIYA-WA 0.200 0.010 1132.2 0.615 0.920 82.11 28/08/2021 0.055 0.010 0.035 0.025 7013WA HUBLINE-WA 0.025 -0.005 400.4 0.140 3.200 2,203 04/11/2019
0.135 0.010 0.040 0.025 1015C1 AMBANK-C1 0.040 0.015 2725.8 4.560 5.000 12.28 30/04/2018 0.105 0.020 0.085 0.080 7013WB HUBLINE-WB 0.080 Unch 397.1 0.140 0.200 100.00 20/12/2020
0.145 0.055 0.095 0.095 1015C3 AMBANK-C3 0.095 0.015 140 4.560 4.700 9.95 30/03/2018 0.050 0.015 0.040 0.035 9601WD HWGB-WD 0.040 Unch 19993.8 0.075 0.080 60.00 15/03/2021
0.200 0.080 0.200 0.170 1015C5 AMBANK-C5 0.195 0.035 925.3 4.560 4.300 4.99 28/09/2018 0.055 0.015 0.030 0.030 0174WA IDMENSN-WA 0.030 -0.005 43.5 0.070 0.100 85.71 14/07/2020
0.240 0.110 0.185 0.180 6556CE ANNJOO-CE 0.180 -0.005 1488.6 3.900 3.100 0.26 02/02/2018 0.105 0.035 0.060 0.050 333611 IJM-C11 0.055 0.010 1887.5 3.070 3.300 10.63 31/07/2018
0.170 0.095 0.125 0.120 6556CF ANNJOO-CF 0.120 Unch 568.5 3.900 4.000 15.79 30/04/2018 0.023 0.003 0.005 0.005 3336C7 IJM-C7 0.005 Unch 100 1.495 3.800 155.18 12/02/2018
0.115 0.065 0.080 0.080 6556CG ANNJOO-CG 0.080 Unch 150 3.900 4.380 21.13 14/05/2018 0.170 0.130 0.170 0.160 16610 INARI-C10 0.165 0.020 499.7 3.580 3.800 19.97 31/07/2018
0.155 0.090 0.140 0.135 6556CH ANNJOO-CH 0.135 0.005 1305.7 3.900 4.000 20.56 24/07/2018 0.165 0.140 0.165 0.155 16611 INARI-C11 0.165 0.025 251 3.580 3.200 12.43 30/08/2018
0.275 0.030 0.045 0.040 9342WA ANZO-WA 0.045 Unch 77.7 0.090 0.250 227.78 19/11/2019 0.435 0.080 0.435 0.385 0166C3 INARI-C3 0.435 0.065 100 3.580 2.600 0.57 30/01/2018
0.265 0.040 0.050 0.050 9342WB ANZO-WB 0.050 Unch 137 0.090 0.250 233.33 25/08/2023 0.380 0.080 0.380 0.340 0166C4 INARI-C4 0.380 0.065 1480 3.580 2.500 1.68 26/04/2018
0.070 0.030 0.040 0.035 9342WC ANZO-WC 0.040 0.005 4370.2 0.090 0.200 166.67 18/06/2020 0.550 0.135 0.550 0.550 0166C5 INARI-C5 0.550 0.020 400 3.580 2.400 -2.23 22/02/2018
0.030 0.005 0.015 0.010 5194WA APFT-WA 0.015 0.010 1019.7 0.030 0.400 1,283 13/07/2018 0.595 0.095 0.595 0.540 0166C6 INARI-C6 0.595 0.060 377.9 3.580 2.400 0.28 30/04/2018
0.335 0.180 0.280 0.260 0119WA APPASIA-WA 0.270 0.010 4941.8 0.390 0.130 2.56 23/12/2024 0.165 0.070 0.165 0.135 0166C7 INARI-C7 0.165 0.020 9098.7 3.580 3.500 11.59 14/05/2018
0.100 0.005 0.010 0.005 521027 ARMADA-C27 0.010 0.005 1652.5 0.775 0.835 9.03 02/02/2018 0.345 0.165 0.345 0.310 0166C8 INARI-C8 0.345 0.055 55.5 3.580 3.200 10.59 29/06/2018
0.100 0.030 0.050 0.040 521028 ARMADA-C28 0.045 0.010 415.4 0.775 0.750 3.16 30/01/2018 0.405 0.150 0.405 0.360 0166C9 INARI-C9 0.395 0.050 799.8 3.580 2.800 3.04 30/08/2018
0.155 0.085 0.110 0.100 521029 ARMADA-C29 0.110 0.010 1217.4 0.775 0.750 7.42 29/06/2018 0.115 0.020 0.110 0.105 0094WA INIX-WA 0.110 Unch 6005 0.140 0.100 50.00 16/11/2020
0.145 0.100 0.125 0.115 521032 ARMADA-C32 0.120 0.005 3132.8 0.775 0.670 6.58 29/06/2018 0.545 0.165 0.340 0.315 3379WB INSAS-WB 0.340 0.030 4956.2 0.965 1.000 38.86 25/02/2020
0.060 0.040 0.050 0.045 521033 ARMADA-C33 0.045 Unch 3566 0.775 0.800 13.68 24/07/2018 0.120 0.085 0.120 0.120 196115 IOICORP-C15 0.120 0.005 0.1 4.530 4.550 6.40 31/07/2018
0.060 0.040 0.045 0.045 521034 ARMADA-C34 0.045 Unch 730 0.775 0.850 20.13 25/09/2018 0.070 0.020 0.040 0.035 7183WA IRETEX-WA 0.040 Unch 109.2 0.155 0.800 441.94 10/06/2019
0.070 0.060 0.070 0.070 521035 ARMADA-C35 0.070 0.005 300 0.775 0.850 19.61 31/07/2018 0.063 0.023 0.035 0.035 0024WA JAG-WA 0.035 Unch 254.7 0.095 0.100 42.11 14/08/2019
0.350 0.030 0.055 0.040 0068WB ASDION-WB 0.050 0.010 972.2 0.165 0.500 233.33 24/03/2019 0.045 0.020 0.030 0.025 0024WB JAG-WB 0.025 -0.005 881.1 0.095 0.150 84.21 15/11/2020
0.105 0.065 0.085 0.065 4057WB ASIAPAC-WB 0.085 Unch 1.1 0.165 0.250 103.03 25/05/2022 0.095 0.015 0.025 0.020 5161C3 JCY-C3 0.025 0.010 5840 0.440 0.550 30.68 19/04/2018
0.121 0.035 0.050 0.050 0105WA ASIAPLY-WA 0.050 -0.010 18.3 0.130 0.100 15.38 13/12/2020 0.075 0.015 0.020 0.020 5161C4 JCY-C4 0.020 Unch 150 0.440 0.600 40.91 30/04/2018
0.060 0.045 0.060 0.055 0105WB ASIAPLY-WB 0.055 -0.005 3280.9 0.130 0.100 19.23 12/12/2022 0.095 0.015 0.030 0.025 5161C5 JCY-C5 0.025 0.005 915 0.440 0.550 30.68 29/06/2018
0.140 0.035 0.060 0.060 6399C5 ASTRO-C5 0.060 Unch 306.6 2.690 2.900 11.15 31/07/2018 0.110 0.065 0.090 0.080 8923WA JIANKUN-WA 0.090 0.005 743.8 0.330 0.320 24.24 23/12/2021
0.664 0.095 0.305 0.280 7099WB ATTA-WB 0.285 0.020 2507 0.935 0.870 23.53 09/05/2022 0.190 0.100 0.115 0.110 0170WA KANGER-WA 0.115 0.005 355.5 0.205 0.100 4.88 13/04/2020
0.608 0.145 0.290 0.265 7099WC ATTA-WC 0.280 0.020 159.3 0.935 0.870 22.99 18/11/2024 0.155 0.015 0.020 0.020 5247C4 KAREX-C4 0.020 -0.005 400 1.280 1.550 23.44 30/04/2018
0.045 0.020 0.030 0.030 0072WA AT-WA 0.030 Unch 10 0.115 0.270 160.87 28/01/2019 0.035 0.010 0.025 0.020 3115WC KBUNAI-WC 0.020 Unch 711 0.065 0.131 132.31 20/10/2023
0.120 0.040 0.060 0.055 0072WB AT-WB 0.060 0.005 50.1 0.115 0.090 30.43 17/10/2019 0.225 0.120 0.220 0.185 7161CD KERJAYA-CD 0.220 0.040 575 4.080 3.400 2.21 25/01/2018
0.730 0.230 0.530 0.390 7078WA AZRB-WA 0.510 0.060 332.5 1.010 0.700 19.80 13/05/2024 0.265 0.155 0.240 0.210 7161CE KERJAYA-CE 0.215 0.010 1767.5 4.080 3.600 4.04 22/02/2018
0.355 0.180 0.355 0.300 0098WA BAHVEST-WA 0.350 0.045 2237.7 0.710 0.870 71.83 20/08/2024 0.215 0.160 0.195 0.180 7161CG KERJAYA-CG 0.180 0.015 516 4.080 3.800 9.90 30/04/2018
0.085 0.030 0.035 0.035 4162CJ BAT-CJ 0.035 -0.005 249 38.02 43.50 16.71 31/07/2018 0.155 0.135 0.150 0.145 7161CH KERJAYA-CH 0.145 0.010 170 4.080 4.300 20.32 24/07/2018
0.450 0.265 0.300 0.290 5258WA BIMB-WA 0.300 0.010 238.3 4.290 4.720 17.02 04/12/2023 0.490 0.090 0.435 0.420 0151WA KGB-WA 0.420 Unch 497.4 0.860 0.500 6.98 12/06/2019
0.155 0.065 0.085 0.085 6998WA BINTAI-WA 0.085 Unch 97.7 0.180 0.200 58.33 15/06/2020 0.140 0.010 0.020 0.020 0036WA KGROUP-WA 0.020 Unch 141.4 0.155 0.400 170.97 02/07/2018
0.230 0.095 0.145 0.135 0179WA BIOHLDG-WA 0.145 0.005 1936.5 0.250 0.220 46.00 05/01/2022 0.120 0.035 0.045 0.045 0036WB KGROUP-WB 0.045 0.005 160 0.155 0.200 58.06 01/05/2020
0.193 0.010 0.015 0.010 3239WA BJASSET-WA 0.015 Unch 30.1 0.440 1.000 130.68 16/03/2018 0.815 0.555 0.600 0.600 5171WA KIMLUN-WA 0.600 -0.015 35.9 2.200 1.680 3.64 12/03/2024
0.095 0.045 0.055 0.050 3395C5 BJCORP-C5 0.055 0.010 2233 0.350 0.350 15.71 24/07/2018 0.135 0.050 0.060 0.055 7164WB KNM-WB 0.060 Unch 562.2 0.230 1.000 360.87 21/04/2020
0.070 0.030 0.040 0.035 3395C6 BJCORP-C6 0.040 0.010 2728.9 0.350 0.420 31.43 31/07/2018 0.095 0.060 0.080 0.060 7017WB KOMARK-WB 0.080 0.010 63 0.210 0.300 80.95 21/01/2020
0.065 0.045 0.050 0.050 3395C7 BJCORP-C7 0.050 0.005 50 0.350 0.385 24.29 24/08/2018 0.430 0.103 0.200 0.185 5878WB KPJ-WB 0.200 -0.015 21.8 0.980 1.010 23.47 23/01/2019
0.160 0.060 0.095 0.090 3395WB BJCORP-WB 0.095 0.005 600.1 0.350 1.000 212.86 22/04/2022 0.810 0.465 0.635 0.635 9385WA LAYHONG-WA 0.635 0.005 10 0.970 0.400 6.70 13/10/2021
0.175 0.050 0.115 0.115 3395WC BJCORP-WC 0.115 Unch 766 0.350 1.000 218.57 29/05/2026 1.100 0.400 1.100 1.090 5789WB LBS-WB 1.100 Unch 51.8 2.370 1.250 -0.84 04/10/2020
0.370 0.045 0.285 0.280 7187WA BKOON-WA 0.280 -0.005 120 0.485 0.200 -1.03 07/07/2023 0.110 0.005 0.005 0.005 5284CA LCTITAN-CA 0.005 Unch 1812 1.594 6.800 327.85 12/02/2018
0.066 0.025 0.025 0.025 7036WB BORNOIL-WB 0.025 Unch 249 0.090 0.060 -5.56 28/02/2018 0.265 0.005 0.005 0.005 5284CD LCTITAN-CD 0.005 Unch 500 0.715 6.500 811.19 30/01/2018
0.071 0.035 0.040 0.035 7036WC BORNOIL-WC 0.040 0.005 6498.6 0.090 0.070 22.22 08/11/2025 0.465 0.005 0.025 0.010 5284CE LCTITAN-CE 0.020 0.010 1905 4.910 5.500 13.24 30/01/2018
0.065 0.035 0.045 0.040 7036WD BORNOIL-WD 0.040 Unch 380.1 0.090 0.070 22.22 29/05/2027 0.095 0.020 0.040 0.030 5284CG LCTITAN-CG 0.035 0.010 7403.7 4.910 6.500 36.66 30/04/2018
0.135 0.029 0.085 0.080 9938WB BRIGHT-WB 0.080 Unch 680.6 0.255 0.650 186.27 12/01/2019 0.300 0.055 0.180 0.175 8745WB LEWEKO-WB 0.180 Unch 35 0.315 0.200 20.63 08/09/2020
0.135 0.040 0.060 0.060 7188WA BTM-WA 0.060 Unch 85 0.245 0.940 308.16 20/12/2019 0.095 0.025 0.050 0.045 5068WA LUSTER-WA 0.050 Unch 190 0.105 0.100 42.86 03/06/2022
0.150 0.020 0.065 0.035 181813 BURSA-C13 0.060 0.025 2323.6 10.400 10.500 3.85 30/03/2018 0.080 0.015 0.065 0.060 0017WA M3TECH-WA 0.065 Unch 10138.2 0.140 0.100 17.86 21/08/2019
0.125 0.055 0.125 0.100 181814 BURSA-C14 0.125 0.035 2586 10.400 10.000 3.37 29/06/2018 0.140 0.100 0.110 0.110 3859C3 MAGNUM-C3 0.110 0.005 10 1.770 1.700 8.47 29/06/2018
0.140 0.105 0.140 0.130 181815 BURSA-C15 0.135 0.030 170 10.400 10.000 5.24 27/07/2018 0.065 0.060 0.065 0.060 858312 MAHSING-C12 0.065 -0.085 1013 1.490 1.550 12.75 31/07/2018
0.920 0.765 0.800 0.765 7174WA CAB-WA 0.780 -0.005 257.2 0.975 0.170 -2.56 08/02/2020 0.060 0.060 0.060 0.060 858313 MAHSING-C13 0.060 Unch 316.5 1.490 1.600 15.44 25/06/2018
0.470 0.225 0.260 0.240 7076WA CBIP-WA 0.260 0.015 143.1 1.790 2.400 48.60 06/11/2019 0.240 0.050 0.060 0.050 8583WB MAHSING-WB 0.060 0.005 1946 1.490 1.440 0.67 16/03/2018
0.220 0.050 0.130 0.120 5195WB CENSOF-WB 0.125 0.005 2814.2 0.285 0.460 105.26 07/10/2019 0.170 0.085 0.100 0.100 8583WC MAHSING-WC 0.100 -0.010 161.8 1.490 2.100 47.65 21/02/2020
0.175 0.035 0.065 0.060 102323 CIMB-C23 0.065 -0.010 2400 6.530 6.500 5.02 02/02/2018 0.115 0.015 0.020 0.020 5264C1 MALAKOF-C1 0.020 0.005 1915 0.930 1.000 11.83 30/01/2018
0.110 0.005 0.020 0.015 102327 CIMB-C27 0.020 0.005 81 6.530 7.700 19.14 19/03/2018 0.160 0.020 0.040 0.030 5264C2 MALAKOF-C2 0.035 0.010 2929.3 0.930 1.050 16.67 30/04/2018
0.240 0.150 0.235 0.225 102328 CIMB-C28 0.230 0.010 8205.5 6.530 6.000 5.97 30/04/2018 0.090 0.015 0.030 0.015 5264C3 MALAKOF-C3 0.020 -0.010 32279.7 0.930 1.000 11.83 19/03/2018
0.225 0.140 0.220 0.210 102330 CIMB-C30 0.210 Unch 7547.5 6.530 6.700 12.89 29/06/2018 0.090 0.030 0.060 0.035 5264C4 MALAKOF-C4 0.040 0.005 16950.9 0.930 0.950 10.75 19/04/2018
0.205 0.050 0.140 0.125 0102WA CONNECT-WA 0.140 0.010 74.9 0.220 0.100 9.09 17/09/2021 0.085 0.025 0.040 0.030 5264C5 MALAKOF-C5 0.040 0.015 1020 0.930 1.150 30.11 29/06/2018
0.205 0.050 0.125 0.110 0102WB CONNECT-WB 0.110 -0.010 314 0.220 0.100 -4.55 07/06/2021 0.055 0.020 0.050 0.025 5264C6 MALAKOF-C6 0.030 -0.005 5942.4 0.930 1.200 33.87 29/06/2018
0.330 0.025 0.330 0.310 0051WA CUSCAPI-WA 0.310 Unch 9559.6 0.595 0.270 -2.52 24/04/2018 0.990 0.095 0.285 0.225 6181WB MALTON-WB 0.265 0.045 34010.5 0.975 1.000 29.74 29/06/2018
0.035 0.005 0.020 0.015 7179WB DBE-WB 0.020 Unch 2535 0.035 0.050 100.00 22/01/2022 0.500 0.278 0.330 0.320 5236WA MATRIX-WA 0.330 -0.005 83.9 2.210 2.400 23.53 20/07/2020
0.220 0.120 0.180 0.160 3484WA DBHD-WA 0.175 0.020 440.2 0.545 0.580 38.53 27/11/2020 0.015 0.005 0.005 0.005 5189WA MAXWELL-WA 0.005 Unch 30 0.020 0.400 1,925 24/03/2020
0.635 0.105 0.635 0.615 727717 DIALOG-C17 0.620 Unch 60 2.500 1.900 0.80 02/02/2018 0.190 0.035 0.135 0.110 115531 MAYBANKC31 0.135 0.025 1858.1 9.780 9.500 1.28 28/02/2018
0.150 0.055 0.145 0.135 727718 DIALOG-C18 0.145 0.005 699.9 2.500 2.300 5.34 30/03/2018 0.135 0.050 0.070 0.065 115532 MAYBANKC32 0.065 0.010 1800 9.780 10.000 4.91 28/02/2018
0.195 0.125 0.195 0.195 727722 DIALOG-C22 0.195 0.020 30 2.500 2.200 7.50 24/07/2018 0.255 0.125 0.255 0.240 115534 MAYBANKC34 0.250 0.010 2011.5 9.780 9.250 0.97 30/08/2018
0.245 0.115 0.245 0.220 727723 DIALOG-C23 0.230 0.005 899.5 2.500 2.300 5.80 30/08/2018 0.160 0.130 0.160 0.150 115535 MAYBANKC35 0.160 0.010 1193.8 9.780 9.600 5.52 25/09/2018
0.100 0.075 0.090 0.090 727725 DIALOG-C25 0.090 0.005 50 2.500 2.900 23.92 31/07/2018 0.125 0.090 0.125 0.120 115536 MAYBANKC36 0.125 0.005 365 9.780 9.400 3.78 23/08/2018
0.150 0.035 0.145 0.135 694721 DIGI-C21 0.145 0.010 0.3 4.880 5.000 6.92 31/07/2018 0.705 0.400 0.560 0.550 5152WA MBL-WA 0.560 0.010 204.8 1.260 0.800 7.94 28/11/2022
0.165 0.050 0.065 0.060 0029WB DIGISTA-WB 0.065 0.005 65 0.125 0.260 160.00 04/04/2023 0.230 0.005 0.015 0.010 1171C2 MBSB-C2 0.010 Unch 972.3 0.774 1.300 69.25 02/02/2018
0.370 0.055 0.245 0.225 4456WD DNEX-WD 0.230 -0.005 79302.1 0.540 0.500 35.19 30/07/2021 0.105 0.010 0.020 0.015 1171C3 MBSB-C3 0.020 Unch 430 1.150 1.350 20.87 28/02/2018
0.280 0.060 0.185 0.175 7114WA DNONCE-WA 0.180 -0.005 1462 0.350 0.250 22.86 25/11/2020 0.115 0.030 0.075 0.055 1171C4 MBSB-C4 0.065 0.005 3168.6 1.150 1.250 14.35 29/06/2018
0.070 0.035 0.050 0.050 7198WB DPS-WB 0.050 Unch 10 0.085 0.100 76.47 15/01/2025 0.105 0.050 0.080 0.065 1171C5 MBSB-C5 0.075 0.005 45667.5 1.150 1.050 10.87 30/04/2018
0.345 0.040 0.345 0.230 161937 DRBHCOMC37 0.250 0.010 111344.7 2.300 1.850 2.17 30/03/2018 0.065 0.015 0.030 0.025 1171C6 MBSB-C6 0.030 Unch 4800.2 1.150 1.400 26.96 14/05/2018
0.310 0.035 0.310 0.225 161938 DRBHCOMC38 0.225 0.040 3177 2.300 1.780 1.85 30/01/2018 0.185 0.090 0.185 0.145 1171C7 MBSB-C7 0.165 0.025 1734.4 1.150 1.100 10.00 28/09/2018
0.230 0.045 0.230 0.160 161939 DRBHCOMC39 0.170 0.010 2504.4 2.300 1.880 3.91 30/03/2018 0.085 0.050 0.080 0.075 1171C8 MBSB-C8 0.080 0.005 250 1.150 1.200 18.26 31/07/2018
0.195 0.030 0.195 0.130 161940 DRBHCOMC40 0.140 0.015 3630.3 2.300 2.000 5.22 30/03/2018 0.260 0.040 0.075 0.055 0167WB MCLEAN-WB 0.075 Unch 30.2 0.170 0.250 91.18 07/10/2020
0.180 0.020 0.180 0.105 161941 DRBHCOMC41 0.130 0.030 46678.6 2.300 2.150 10.43 30/03/2018 0.050 0.003 0.010 0.005 4502CK MEDIA-CK 0.010 Unch 1785 0.715 1.000 42.66 28/02/2018
0.425 0.095 0.425 0.330 161942 DRBHCOMC42 0.335 -0.005 11491.7 2.300 1.650 0.87 31/05/2018 0.365 0.140 0.155 0.145 1694WB MENANG-WB 0.155 0.005 247.6 0.915 1.000 26.23 09/07/2019
0.310 0.085 0.310 0.240 161943 DRBHCOMC43 0.255 0.020 1661 2.300 1.600 2.83 30/03/2018 0.515 0.100 0.450 0.430 0075WA MEXTER-WA 0.445 Unch 210.5 0.575 0.130 0.00 17/09/2018
0.315 0.075 0.315 0.220 161944 DRBHCOMC44 0.230 0.010 11892.2 2.300 2.000 6.96 09/04/2018 0.090 0.005 0.015 0.010 5186C3 MHB-C3 0.010 -0.005 838.3 0.820 0.900 12.20 25/01/2018
0.315 0.080 0.315 0.230 161945 DRBHCOMC45 0.240 0.010 21673.4 2.300 1.950 7.74 29/06/2018 0.120 0.040 0.060 0.060 5186C4 MHB-C4 0.060 Unch 300 0.820 0.850 18.29 30/04/2018
0.325 0.135 0.325 0.250 161946 DRBHCOMC46 0.265 Unch 4184.9 2.300 1.650 6.30 27/07/2018 0.100 0.025 0.045 0.040 5186C5 MHB-C5 0.045 0.005 1582.9 0.820 0.900 20.73 14/05/2018
0.105 0.075 0.105 0.090 5216C2 DSONIC-C2 0.090 0.010 161 1.220 1.180 11.48 29/06/2018 0.225 0.110 0.160 0.150 5186C6 MHB-C6 0.160 0.005 168.7 0.820 0.800 13.17 30/08/2018
0.080 0.055 0.070 0.065 5216C3 DSONIC-C3 0.065 0.010 550 1.220 1.280 15.57 29/06/2018 0.075 0.050 0.065 0.065 5186C8 MHB-C8 0.065 0.005 4.3 0.820 0.920 28.05 24/08/2018
0.070 0.050 0.070 0.055 5216C4 DSONIC-C4 0.060 0.010 2068 1.220 1.350 20.49 11/06/2018 0.070 0.025 0.050 0.045 7219WA MINETEC-WA 0.045 Unch 575.7 0.135 0.150 44.44 27/11/2019
0.090 0.060 0.090 0.070 5216C5 DSONIC-C5 0.080 0.015 8140.7 1.220 1.290 18.85 31/07/2018 0.270 0.130 0.190 0.155 5576WC MINHO-WC 0.190 0.035 50 0.480 0.500 43.75 02/08/2021
0.080 0.015 0.030 0.020 5216CX DSONIC-CX 0.025 0.005 1310 1.220 1.250 7.58 30/01/2018 0.115 0.020 0.055 0.040 381612 MISC-C12 0.045 -0.005 1647.5 7.350 7.500 3.88 30/03/2018
0.320 0.060 0.125 0.095 3417WB E&O-WB 0.120 -0.005 164.1 1.430 2.600 90.21 21/07/2019 0.195 0.115 0.195 0.170 381614 MISC-C14 0.195 Unch 140 7.350 7.050 3.21 28/09/2018
0.033 0.010 0.020 0.020 0154WB EAH-WB 0.020 Unch 550 0.045 0.090 144.44 24/02/2019 0.600 0.200 0.265 0.250 9571WD MITRA-WD 0.260 0.020 151.3 0.840 1.090 60.71 23/08/2020
0.030 0.020 0.020 0.020 0154WD EAH-WD 0.020 Unch 1255.8 0.045 0.050 55.56 25/10/2022 0.105 0.020 0.045 0.040 0085WA MLAB-WA 0.045 Unch 103.1 0.085 0.090 58.82 24/04/2020
0.195 0.100 0.115 0.115 3557WC ECOFIRS-WC 0.115 Unch 195.8 0.305 0.300 36.07 10/09/2019 0.070 0.025 0.030 0.030 0085WB MLAB-WB 0.030 Unch 221 0.085 0.150 111.76 10/09/2020
0.185 0.100 0.130 0.125 5253CF ECONBHD-CF 0.125 -0.010 3950.1 1.220 1.180 9.02 22/03/2018 1.200 0.335 1.190 1.170 7595WA MLGLOBAL-WA 1.190 0.010 134.5 1.760 0.500 -3.98 27/10/2019
0.095 0.075 0.075 0.075 5253CI ECONBHD-CI 0.075 -0.010 200 1.220 1.340 19.18 24/07/2018 0.085 0.055 0.085 0.070 0034WB MMAG-WB 0.075 -0.005 56098.3 0.205 0.200 34.15 27/11/2022
0.100 0.055 0.070 0.060 8206CK ECOWLD-CK 0.065 Unch 810 1.400 1.500 16.43 31/07/2018 0.115 0.005 0.020 0.015 2194C6 MMCCORP-C6 0.020 0.005 546.8 2.040 2.450 22.06 30/04/2018
0.120 0.090 0.095 0.090 8206CM ECOWLD-CM 0.095 -0.020 950.1 1.400 1.350 13.39 31/07/2018 0.170 0.055 0.130 0.130 2194C8 MMCCORP-C8 0.130 0.015 140 2.040 2.000 7.60 31/07/2018
0.070 0.060 0.065 0.065 8206CN ECOWLD-CN 0.065 -0.005 1550 1.400 1.650 27.14 25/06/2018 0.055 0.020 0.040 0.035 0103WA MNC-WA 0.040 0.005 735.2 0.090 0.100 55.56 05/11/2021
0.710 0.340 0.385 0.365 8206WA ECOWLD-WA 0.370 0.005 103.6 1.400 2.080 75.00 26/03/2022 0.105 0.030 0.040 0.040 5237CI MPHBCAP-CI 0.040 0.005 100 1.270 1.500 24.41 31/05/2018
0.095 0.020 0.035 0.035 0107WA EDUSPEC-WA 0.035 Unch 570 0.135 0.180 59.26 24/12/2018 0.105 0.055 0.090 0.080 3867CH MPI-CH 0.090 0.005 125 12.46 13.50 17.74 29/06/2018
1.360 0.370 1.280 1.190 0065WA EFORCE-WA 1.250 0.050 1175.7 1.580 0.340 0.63 17/07/2019 0.060 0.020 0.035 0.030 0070WA MQTECH-WA 0.030 Unch 2793.8 0.060 0.100 116.67 21/11/2021
0.557 0.283 0.400 0.390 8907WC EG-WC 0.395 0.005 388.4 0.675 0.500 32.59 03/11/2020 0.110 0.015 0.025 0.020 165118 MRCB-C18 0.025 0.005 880 1.250 1.484 22.17 28/02/2018
0.030 0.010 0.020 0.015 7182WA EKA-WA 0.020 0.005 488 0.085 0.200 158.82 22/01/2019 0.100 0.030 0.065 0.065 165119 MRCB-C19 0.065 0.025 15 1.250 1.379 19.38 30/04/2018
0.145 0.005 0.005 0.005 8877CB EKOVEST-CB 0.005 Unch 50 0.995 1.400 41.71 08/01/2018 0.060 0.020 0.055 0.040 165120 MRCB-C20 0.055 0.015 1653 1.250 1.484 26.36 30/04/2018
0.110 0.010 0.035 0.020 8877CD EKOVEST-CD 0.025 0.010 30485.7 1.020 1.150 17.65 22/02/2018 0.120 0.010 0.120 0.090 165121 MRCB-C21 0.100 0.015 21796.4 1.250 1.222 8.21 30/04/2018
0.080 0.030 0.060 0.040 8877CE EKOVEST-CE 0.050 0.010 24441.2 1.020 1.200 28.92 29/06/2018 0.125 0.055 0.125 0.110 165122 MRCB-C22 0.125 0.040 60 1.250 1.178 11.70 26/04/2018
0.130 0.085 0.130 0.100 8877CF EKOVEST-CF 0.125 0.030 22470.7 1.020 1.000 21.32 29/06/2018 0.115 0.040 0.115 0.095 165123 MRCB-C23 0.110 0.030 8602 1.250 1.134 6.11 19/03/2018
0.065 0.045 0.065 0.060 8877CG EKOVEST-CG 0.060 0.015 2230.2 1.020 1.100 24.31 24/07/2018 0.140 0.055 0.140 0.115 165124 MRCB-C24 0.135 0.030 16092.1 1.250 1.047 6.39 30/03/2018
0.130 0.095 0.130 0.105 8877CH EKOVEST-CH 0.125 0.030 746 1.020 1.000 22.55 31/07/2018 0.060 0.020 0.060 0.050 165125 MRCB-C25 0.060 0.015 12258.4 1.250 1.309 14.77 30/03/2018
0.070 0.045 0.070 0.050 8877CI EKOVEST-CI 0.060 0.015 4917.1 1.020 1.200 29.41 11/06/2018 0.250 0.050 0.250 0.195 165126 MRCB-C26 0.235 0.050 6435.8 1.250 1.056 4.98 29/06/2018
1.350 0.475 0.640 0.550 8877WB EKOVEST-WB 0.635 0.090 7853 1.020 0.480 9.31 25/06/2019 0.125 0.043 0.055 0.045 1651WA MRCB-WA 0.045 -0.005 24541 1.250 1.680 38.00 14/09/2018
0.120 0.005 0.005 0.005 5283CA EWINT-CA 0.005 -0.030 10 0.146 1.200 728.77 02/02/2018 0.440 0.295 0.440 0.405 1651WB MRCB-WB 0.405 -0.010 34384.3 1.250 1.250 32.40 29/10/2027
0.450 0.200 0.215 0.210 5283WA EWINT-WA 0.210 -0.005 2370.9 1.020 1.450 62.75 02/04/2022 0.193 0.035 0.050 0.050 0092WB MTOUCHE-WB 0.050 Unch 177.3 0.165 0.480 221.21 16/03/2020
0.570 0.145 0.505 0.430 7047WB FAJAR-WB 0.505 0.085 3674.2 0.890 0.700 35.39 24/09/2019 0.090 0.060 0.080 0.075 0092WC MTOUCHE-WC 0.075 Unch 541 0.165 0.200 66.67 02/11/2020
0.040 0.005 0.020 0.015 06503B FBMKLCI-C3B 0.015 Unch 187.3 889.94 1,800 103.44 02/02/2018 0.160 0.030 0.045 0.030 5703CE MUHIBAH-CE 0.035 -0.010 420 2.870 3.300 17.06 12/02/2018
0.505 0.180 0.340 0.330 06503D FBMKLCI-C3D 0.340 0.055 100 1,792 1,770 2.52 28/02/2018 0.255 0.060 0.250 0.105 13816 MYEG-C16 0.225 0.120 5010.9 2.460 2.000 -0.41 02/02/2018
0.095 0.005 0.080 0.065 06503E FBMKLCI-C3E 0.075 0.010 224.5 1,792 1,770 0.82 28/02/2018 0.110 0.005 0.035 0.005 13818 MYEG-C18 0.035 0.015 788 2.460 2.600 9.25 25/01/2018
0.080 0.005 0.080 0.060 06503F FBMKLCI-C3F 0.075 0.020 551.9 1,792 1,780 1.38 30/03/2018 0.120 0.015 0.045 0.035 13820 MYEG-C20 0.045 0.030 220 2.460 2.600 9.35 22/01/2018
0.120 0.020 0.120 0.120 06503I FBMKLCI-C3I 0.120 0.020 1 1,792 1,755 1.24 30/04/2018 0.090 0.030 0.090 0.050 13821 MYEG-C21 0.085 0.040 7556.7 2.460 2.280 6.50 30/03/2018
0.145 0.035 0.145 0.145 06503J FBMKLCI-C3J 0.145 0.030 200 1,792 1,740 1.10 31/05/2018 0.060 0.030 0.060 0.035 13823 MYEG-C23 0.055 0.010 3712.6 2.460 2.700 16.46 26/02/2018
0.130 0.030 0.130 0.130 06503K FBMKLCI-C3K 0.130 0.030 16 1,792 1,750 1.24 29/06/2018 0.175 0.055 0.175 0.085 13824 MYEG-C24 0.155 0.070 114612.9 2.460 2.100 1.75 28/02/2018
0.145 0.020 0.020 0.020 06504D FBMKLCI-H4D 0.020 -0.010 1817.1 1,191 1,800 52.21 02/02/2018 0.255 0.090 0.255 0.155 13825 MYEG-C25 0.245 0.105 1652.8 2.460 2.000 3.71 29/06/2018
0.170 0.020 0.020 0.020 06504G FBMKLCI-H4G 0.020 -0.015 200 890.35 1,770 99.92 28/02/2018 0.300 0.165 0.300 0.240 13826 MYEG-C26 0.295 0.085 1836.5 2.460 1.700 5.08 29/06/2018
0.215 0.045 0.050 0.045 06504H FBMKLCI-H4H 0.050 -0.010 510 1,792 1,780 0.68 30/03/2018 0.150 0.090 0.150 0.115 13827 MYEG-C27 0.145 0.045 620.5 2.460 2.300 11.18 24/07/2018
0.585 0.305 0.315 0.305 06504J FBMKLCI-H4J 0.315 -0.245 6 1,792 1,780 2.80 30/04/2018 0.260 0.090 0.260 0.210 13829 MYEG-C29 0.240 0.100 760.4 2.460 2.200 6.50 28/09/2018
0.180 0.035 0.040 0.035 06504K FBMKLCI-H4K 0.035 -0.015 346 1,564 1,755 13.32 30/04/2018 0.065 0.010 0.025 0.025 0020WB NETX-WB 0.025 Unch 1758 0.045 0.050 66.67 08/06/2019
0.170 0.040 0.045 0.040 06504L FBMKLCI-H4L 0.045 -0.010 226 1,792 1,740 -1.69 31/05/2018 0.025 0.010 0.010 0.010 0096WB NEXGRAM-WB 0.010 -0.005 70 0.035 0.260 671.43 21/07/2023
0.205 0.065 0.065 0.065 06504M FBMKLCI-H4M 0.065 -0.020 10 1,792 1,750 -0.57 29/06/2018 0.170 0.085 0.090 0.085 7241WA NGGB-WA 0.090 Unch 60.1 0.375 0.600 84.00 18/10/2020
0.330 0.285 0.285 0.285 06504N FBMKLCI-H4N 0.285 -0.030 100 1,792 1,730 -0.32 29/06/2018 0.100 0.015 0.025 0.015 7215WA NIHSIN-WA 0.020 Unch 4149 0.230 0.200 -4.35 11/02/2018
0.495 0.490 0.495 0.490 06504O FBMKLCI-H4O 0.495 -0.295 100 1,792 1,810 6.49 29/06/2018 0.415 0.195 0.265 0.260 0172WA OCK-WA 0.265 0.010 632.8 0.900 0.710 8.33 15/12/2020
0.155 0.005 0.020 0.010 522228 FGV-C28 0.010 Unch 8915.8 1.860 2.050 11.56 02/02/2018 0.255 0.075 0.135 0.130 7071WC OCR-WC 0.130 0.005 366.9 0.550 0.500 14.55 24/07/2021
0.026 0.005 0.005 0.005 522229 FGV-C29 0.005 Unch 112.5 0.338 2.100 525.00 08/01/2018 0.075 0.045 0.060 0.060 5201CD OLDTOWN-CD 0.060 0.005 50 3.090 3.080 9.39 30/03/2018
0.190 0.065 0.190 0.120 522231 FGV-C31 0.130 0.005 34230.1 1.860 1.630 5.11 30/03/2018 0.280 0.045 0.130 0.110 9008WB OMESTI-WB 0.125 0.015 7821.9 0.535 0.500 16.82 30/05/2018
0.150 0.055 0.100 0.090 522232 FGV-C32 0.100 0.010 1347.5 1.860 1.650 2.15 30/01/2018 0.060 0.040 0.060 0.045 0079WA ORION-WA 0.055 0.005 13803.6 0.125 0.170 80.00 26/07/2022
0.115 0.075 0.095 0.075 522233 FGV-C33 0.085 0.010 812 1.860 1.800 10.48 30/03/2018 0.247 0.160 0.175 0.165 5053WC OSK-WC 0.165 Unch 44.5 1.060 1.200 28.77 22/07/2020
0.100 0.060 0.090 0.065 522234 FGV-C34 0.070 0.010 860 1.860 1.880 12.37 30/03/2018 0.520 0.155 0.445 0.430 7052CM PADINI-CM 0.445 0.005 305 5.310 3.750 -0.05 22/02/2018
0.065 0.025 0.035 0.025 522236 FGV-C36 0.025 -0.010 2307.9 1.860 2.300 27.69 26/02/2018 0.290 0.105 0.250 0.225 7052CN PADINI-CN 0.250 0.015 103 5.310 4.500 3.58 29/06/2018
0.110 0.025 0.070 0.040 522237 FGV-C37 0.050 0.010 5593.2 1.860 1.900 8.33 30/01/2018 0.180 0.150 0.160 0.150 7052CR PADINI-CR 0.160 0.005 2675 5.310 5.350 18.83 24/08/2018
0.130 0.060 0.115 0.085 522238 FGV-C38 0.105 0.040 870 1.860 1.850 13.58 19/04/2018 0.300 0.110 0.215 0.200 5125WA PANTECH-WA 0.215 0.015 241.7 0.645 0.500 10.85 21/12/2020
0.205 0.100 0.200 0.170 522239 FGV-C39 0.180 0.015 4633.1 1.860 1.750 11.02 31/07/2018 0.300 0.130 0.225 0.205 5125WB PANTECH-WB 0.220 0.010 70.6 0.645 0.500 11.63 21/12/2021
0.105 0.050 0.105 0.075 522240 FGV-C40 0.085 0.015 72509.7 1.860 2.200 28.79 29/06/2018 0.265 0.095 0.110 0.110 5022WA PAOS-WA 0.110 -0.015 30 0.470 0.500 29.79 14/12/2021
0.130 0.075 0.130 0.105 522241 FGV-C41 0.110 0.010 3293 1.860 2.000 20.54 25/06/2018 0.045 0.020 0.045 0.035 7225WB PA-WB 0.040 Unch 76040.7 0.070 0.060 42.86 17/12/2022
0.110 0.045 0.065 0.055 0150WA FINTEC-WA 0.065 0.010 1758.6 0.165 0.300 121.21 19/04/2024 0.165 0.040 0.135 0.120 129515 PBBANK-C15 0.120 -0.005 120.1 20.76 20.30 0.67 30/04/2018
0.090 0.060 0.090 0.080 0150WB FINTEC-WB 0.085 0.010 429.2 0.165 0.150 42.42 03/12/2022 0.080 0.060 0.080 0.060 6068WA PCCS-WA 0.080 Unch 8192.9 0.235 0.600 189.36 25/12/2022
0.130 0.065 0.070 0.065 9318WB FITTERS-WB 0.070 0.005 188.2 0.405 1.000 164.20 12/10/2019 0.300 0.130 0.300 0.250 518313 PCHEM-C13 0.300 0.055 1014.3 7.950 7.000 1.26 31/05/2018
0.425 0.035 0.355 0.350 0116WC FOCUS-WC 0.355 Unch 670 0.420 0.050 -3.57 06/11/2019 0.220 0.140 0.220 0.210 518314 PCHEM-C14 0.220 0.035 203.5 7.950 7.300 5.66 29/06/2018
0.950 0.630 0.710 0.710 7184WA G3-WA 0.710 -0.050 15 0.830 0.100 -2.41 02/10/2022 0.290 0.200 0.210 0.210 9997WB PENSONI-WB 0.210 Unch 30 0.605 0.600 33.88 20/01/2024
0.740 0.365 0.445 0.430 9261WB GADANG-WB 0.440 0.015 4832.9 0.440 1.060 240.91 29/11/2021 0.485 0.235 0.240 0.235 8311WC PESONA-WC 0.240 Unch 55.1 0.465 0.250 5.38 27/01/2020
0.110 0.025 0.045 0.040 539839 GAMUDA-C39 0.045 0.010 1818.6 4.940 5.350 11.03 31/05/2018 0.085 0.050 0.055 0.050 5219CA PESTECH-CA 0.055 Unch 340 1.710 1.880 16.37 31/05/2018
0.095 0.045 0.070 0.070 539840 GAMUDA-C40 0.070 Unch 10 4.940 5.650 21.46 21/06/2018 0.050 0.025 0.035 0.030 5219CB PESTECH-CB 0.035 0.005 320.3 1.710 1.880 14.04 31/05/2018
0.120 0.020 0.030 0.025 539841 GAMUDA-C41 0.030 0.010 499.9 4.940 5.600 15.49 30/03/2018 0.070 0.040 0.045 0.045 5219CC PESTECH-CC 0.045 Unch 16 1.710 2.000 23.54 14/05/2018
0.125 0.095 0.125 0.115 539842 GAMUDA-C42 0.125 0.010 730 4.940 4.800 9.82 27/07/2018 0.130 0.020 0.075 0.065 5681CS PETDAG-CS 0.075 0.005 1652.9 24.500 24.100 1.43 30/03/2018
0.150 0.120 0.145 0.145 539843 GAMUDA-C43 0.145 0.005 151.2 4.940 5.000 11.49 31/07/2018 0.125 0.115 0.125 0.125 5681CT PETDAG-CT 0.125 0.010 26 24.500 26.000 12.24 11/06/2018
0.160 0.145 0.160 0.145 539844 GAMUDA-C44 0.155 Unch 480 4.940 5.000 12.20 25/06/2018 0.145 0.050 0.140 0.095 6033CP PETGAS-CP 0.140 0.040 1247.1 17.940 18.000 6.97 31/07/2018
1.480 1.060 1.190 1.160 5398WE GAMUDA-WE 1.190 0.020 697.1 4.940 4.050 6.07 06/03/2021 0.545 0.180 0.450 0.435 3042CD PETRONM-CD 0.435 -0.020 322 13.640 8.500 0.59 22/02/2018
0.650 0.130 0.645 0.620 5226WA GBGAQRS-WA 0.640 0.010 4219.6 1.980 1.300 -2.02 20/07/2018 0.535 0.250 0.435 0.415 3042CE PETRONM-CE 0.420 -0.020 93 13.640 10.880 10.56 30/04/2018
0.490 0.300 0.465 0.465 3611WA GBH-WA 0.465 -0.015 7 1.480 1.000 -1.01 07/04/2020 0.385 0.140 0.325 0.280 3042CF PETRONM-CF 0.325 0.010 121.4 13.640 11.000 9.24 09/04/2018
0.125 0.005 0.015 0.005 0078CF GDEX-CF 0.015 0.005 253 0.635 0.650 5.91 02/02/2018 0.305 0.140 0.255 0.235 3042CG PETRONM-CG 0.235 -0.010 160 13.640 9.880 6.89 29/06/2018
0.080 0.055 0.065 0.060 0078CI GDEX-CI 0.065 0.010 290 0.635 0.700 23.54 29/06/2018 0.270 0.125 0.230 0.200 3042CH PETRONM-CH 0.210 -0.010 211 13.640 10.880 10.56 29/06/2018
0.070 0.045 0.060 0.050 0078CJ GDEX-CJ 0.060 0.010 900 0.635 0.700 21.57 31/07/2018 0.305 0.110 0.245 0.220 3042CJ PETRONM-CJ 0.225 -0.020 760 13.640 13.000 20.05 24/07/2018
0.572 0.350 0.405 0.390 0078WB GDEX-WB 0.400 0.010 198 0.635 0.383 23.23 05/02/2020 0.290 0.165 0.235 0.200 3042CK PETRONM-CK 0.210 -0.015 964 13.640 12.500 14.74 11/06/2018
0.180 0.005 0.040 0.035 471526 GENM-C26 0.035 0.005 1122 5.800 5.900 4.44 02/02/2018 0.425 0.095 0.390 0.385 8869C1 PMETAL-C1 0.385 -0.010 330.2 5.270 3.800 1.33 29/06/2018
0.165 0.015 0.050 0.045 471528 GENM-C28 0.050 0.010 200 5.800 6.300 11.72 28/02/2018 0.270 0.150 0.250 0.235 8869C3 PMETAL-C3 0.250 0.005 340.8 5.270 4.300 5.31 14/05/2018
0.165 0.065 0.165 0.160 471529 GENM-C29 0.165 Unch 358 5.800 5.500 6.21 31/07/2018 0.270 0.145 0.225 0.215 8869C4 PMETAL-C4 0.225 -0.005 2563.1 5.270 5.000 11.95 29/06/2018
0.250 0.100 0.250 0.240 471530 GENM-C30 0.245 0.005 814.7 5.800 6.000 14.01 31/07/2018 0.215 0.140 0.195 0.190 8869C5 PMETAL-C5 0.190 -0.005 204 5.270 5.350 17.74 24/07/2018
0.135 0.070 0.135 0.135 471531 GENM-C31 0.135 Unch 22 5.800 5.800 11.17 24/07/2018 0.220 0.085 0.190 0.190 8869C6 PMETAL-C6 0.190 -0.010 769 5.270 5.000 9.30 28/09/2018
0.120 0.050 0.110 0.095 318246 GENTINGC46 0.110 0.020 271.1 9.370 9.850 10.99 31/07/2018 0.460 0.110 0.460 0.435 8869CQ PMETAL-CQ 0.435 0.035 32 5.270 2.680 0.38 30/04/2018
0.125 0.075 0.115 0.105 318247 GENTINGC47 0.115 0.025 110.1 9.370 9.990 15.21 31/07/2018 0.615 0.170 0.570 0.570 8869CU PMETAL-CU 0.570 -0.015 65 5.270 3.000 0.19 19/03/2018
0.120 0.075 0.120 0.120 318248 GENTINGC48 0.120 0.010 100 9.370 9.800 14.83 25/09/2018 0.505 0.185 0.500 0.500 8869CZ PMETAL-CZ 0.500 0.045 10 5.270 3.300 0.57 30/03/2018
0.195 0.090 0.190 0.165 3204CA GKENT-CA 0.190 0.030 602.2 3.610 2.880 6.09 31/05/2018 1.050 0.740 0.760 0.740 7088WB POHUAT-WB 0.750 -0.020 384.9 1.750 1.000 0.00 21/10/2020
0.180 0.130 0.160 0.160 3204CB GKENT-CB 0.160 -0.005 300 3.610 3.180 5.82 31/05/2018 0.185 0.055 0.120 0.095 463411 POS-C11 0.100 0.010 12278.2 5.300 5.300 8.49 30/04/2018
0.130 0.070 0.115 0.095 3204CD GKENT-CD 0.110 0.015 1821.2 3.610 3.700 14.68 31/05/2018 0.120 0.075 0.090 0.085 463413 POS-C13 0.090 Unch 1375 5.300 6.000 25.94 29/06/2018
0.230 0.075 0.110 0.110 1147WA GOB-WA 0.110 Unch 30 0.335 0.800 171.64 24/12/2019 0.110 0.100 0.110 0.100 463414 POS-C14 0.110 0.010 600.3 5.300 5.400 14.34 30/08/2018
0.085 0.025 0.040 0.040 0074WA GOCEAN-WA 0.040 Unch 2245 0.170 0.340 123.53 07/08/2019
THU R S DAY JA N UA RY 4 , 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 extend rally, consumer
and transport firms lend support
SHANGHAI: China stocks rose for a fourth
straight session yesterday, aided by strong
gains in consumer and transport firms.
The Shanghai Composite Index (SSEC)
was up 20.78 points or 0.62% at 3,369.11.
The blue-chip CSI 300 Index was
up 0.59%, with its financial sector sub-
index flat, the consumer staples sector up
1.2%, the real estate index up 0.59% and
healthcare sub-index up 0.03%.
The smaller Shenzhen Index ended
up 0.77% and the start-up board ChiNext
Composite Index was higher by 1.45%.
At 07.02 GMT, the yuan was quoted at
6.5102 per US dollar, 0.24% weaker than
the previous close of 6.4949.
The largest percentage gainers in the
SSEC were Hebei Baoshuo Co Ltd up
10.04%, followed by Anhui Leimingkehua
Co Ltd gaining 10.03% and Shanghai Tongji
Science and Technology Industrial Co Ltd
up by 10.03%.
The largest percentage losses in
the SSEC were Jiangsu Protruly Vision
Technology Group Co Ltd down 5.01%,
followed by BOCO Inter-Telecom Co Ltd
losing 4.98% and Hangzhou TianMuShan
Pharmaceutical Enterprise Co Ltd down
by 4.39%.
China’s ride-hailing application Didi
Chuxing has agreed to acquire a majority
stake in Brazilian app 99, newspaper Valor
Economico said yesterday, citing sources
familiar with the talks.
According to the paper, Didi valued 99
at US$1 billion, and acquired stakes owned
by current shareholders Riverwood Capital,
Monashees Inc, Qualcomm Ventures, Tiger
Global Management LLC and Softbank
Group Corp.
Hong Kong shares rose for the seventh
straight session yesterday to a fresh decade-
high, aided by strength in index heavyweight
Tencent and consumer goods stocks.
The Hang Seng index was up 45.64
points or 0.15% at 30,560.95 and the Hang
Seng China Enterprises index rose 0.17%
to 12,088.99.
The sub-index of the Hang Seng tracking
energy shares rose 0.2%, while the IT sector
rose 1.07%, the financial sector was 0.09%
lower and the property sector rose 0.09%.
The top gainer on Hang Seng was Geely
Automobile Holdings Ltd up 3.47%, while
the biggest loser was PetroChina Co Ltd
which was down 1.97%.
The top gainers among H-shares
were Air China Ltd up 6.65%, followed
by Zhuzhou CRRC Times Electric Co Ltd
gaining 2.65% and BYD Co Ltd up by
2.58%.
The short and one-factor leveraged
Hang Seng Index, which is designed to
replicate the payoff of a short or leveraged
portfolio and is linked to the movements of
the Hang Seng Index, was lower by 0.15%
on the day at 4,829.6 points.
Europe — Shares see faltering start to the trading year since 2014, supported
2018 as autos weigh benchmarks with oil majors across the
region rising in concert with crude.
MILAN: European stocks faltered at the More broadly, trading volumes in
start of the trading year on Tuesday as European equities remained muted as
autos stocks fell and strength in the euro traders came back from holidays and
weighed, while trading was cautious ahead of the launch of new rules for the
ahead of the launch of a major reform of region’s financial markets.
European Union financial markets. In other eye-catching moves, Lufthansa
The pan-European STOXX 600 Index slipped 1.4% after British Airways owner
dipped 0.2%, while eurozone leading IAG agreed to buy Air Berlin’s insolvent
STOXX 50 Index shed 0.39% at the close Austrian airline Niki.
of trade. The German carrier had backed out of a
Autos stocks were 0.1% lower, dented deal to buy Niki’s assets in mid-December
by weaker car registrations data. due to competition concerns.
New car sales in France fell 0.51% “The circa 20 planes not acquired
in December 2017 and the share of new through Niki are a loss but not significant
diesel cars dipped below 50% for the first for the Lufthansa investment case from
time since 2000. our point of view,” said Bernstein analysts.
A trader also pointed to a report in Germany-listed shares in South African
Britain’s Daily Telegraph citing forecasts retailer Steinhoff surged 10% to the top
that UK car registrations data, due out of the STOXX, despite the firm saying
tomorrow, would show a 5% decline in its 2015 results would also have to be
new car sales. restated.
Schaeffler fell 4.9%, while BMW and The company also said its internal
Volkswagen were both around 0.5% lower, review of accounting irregularities was
recovering early losses slightly. progressing.
Basic resources stocks also bounced Broker moves also drove trading: an
back from early declines with the sector upgrade to “buy” from Sydbank sent wind
index rising 1.2%. turbine maker Vestas Wind up 2.6% after
The mining sector built on the five-year the company secured several new orders.
high it reached at the end of last week, The Danish bank said a flurry of new
riding a wave of rising copper and other orders and less uncertainty in the US
base metal prices. market indicated activity in 2018 could
Oil, which marked its highest start to be higher than expected. — Reuters

Shanghai Composite Hang Seng Euro STOXX 50 Index Dow Jones

Index points Index points
Index points Index points
5800 30500 3900 26500
3,369.11
+20.78
(+0.62%)
4825 26830 21,056.93 3415 22275
2,772.70
3850 23160 2930 18050
10,403.79
3,087.842
2875 19490 2445 3,490.19 13825 24,824.01
30,560.95 -13.77 +104.79
+45.64 (-0.39%) (+0.42%)
1900 15820 (+0.15%) 1960 9600
Mar 1, 2010 Jan 3, 2018 Mar 1, 2010 Jan 3, 2018 Mar 1, 2010 Jan 2, 2018 Mar 1, 2010 Jan 2, 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
0.165 0.090 0.125 0.120 710632 SUPERMX-C32 0.125 0.005 470 1.970 1.800 10.41 24/07/2018
Main Market & Ace Market Warrants 0.150
0.220
0.085
0.085
0.110
0.095
0.105
0.085
710633
7082WB
SUPERMX-C33
SYF-WB
0.105
0.085
-0.005
Unch
242
420
1.970
0.395
1.880
0.700
11.42
98.73
24/07/2018
11/11/2019
0.365 0.130 0.170 0.135 1538WB SYMLIFE-WB 0.165 -0.015 40.5 0.735 1.100 72.11 11/11/2020
YEAR YEAR DAY DAY CODE WARRANTS CLOSE +/- VOL PARENT EXE PR’M EXPIRY 0.190 0.105 0.105 0.105 4898CG TA-CG 0.105 -0.010 200 0.620 0.600 13.71 31/05/2018
HIGH LOW HIGH LOW (RM) (RM) (‘000) PRICE PRICE (%) DATE 0.330 0.065 0.115 0.090 8524WB TALIWRK-WB 0.110 0.030 227.6 1.210 1.700 49.59 11/11/2018
0.130 0.045 0.050 0.050 0132WA TDEX-WA 0.050 Unch 80 0.135 0.110 18.52 21/09/2018
0.710 0.200 0.230 0.215 8966WA PRLEXUS-WA 0.215 Unch 359.6 0.730 1.200 93.84 14/06/2021 0.220 0.050 0.215 0.205 534739 TENAGA-C39 0.205 0.010 698.6 15.300 14.600 2.12 29/06/2018
0.145 0.045 0.095 0.090 7145WA PSIPTEK-WA 0.095 0.005 677 0.155 0.100 25.81 16/11/2019 0.090 0.055 0.075 0.070 534740 TENAGA-C40 0.070 0.005 396 15.300 16.000 9.15 24/07/2018
0.215 0.100 0.165 0.140 0186WA PTRANS-WA 0.160 0.020 12132.6 0.295 0.235 33.90 19/09/2020 0.210 0.095 0.205 0.195 534741 TENAGA-C41 0.200 0.010 175 15.300 15.500 7.19 29/06/2018
0.260 0.030 0.230 0.220 0007WA PUC-WA 0.225 -0.005 4395.2 0.335 0.100 -2.99 25/12/2024 0.135 0.095 0.120 0.120 534742 TENAGA-C42 0.120 Unch 10 15.300 15.000 5.10 11/06/2018
0.245 0.020 0.215 0.205 0007WB PUC-WB 0.205 -0.010 11245.8 0.335 0.100 -8.96 15/02/2019 0.490 0.215 0.285 0.285 7252WA TEOSENG-WA 0.285 -0.005 10 0.870 1.350 87.93 29/01/2020
0.750 0.235 0.500 0.490 7134WA PWF-WA 0.500 Unch 36.4 1.000 0.620 12.00 20/07/2021 0.160 0.045 0.065 0.065 0145WA TFP-WA 0.065 0.005 100 0.155 0.100 6.45 15/02/2019
0.115 0.095 0.115 0.115 7084CI QL-CI 0.115 0.020 15 4.440 4.300 9.80 30/08/2018 0.025 0.005 0.010 0.005 7079WB TIGER-WB 0.005 Unch 1155.2 0.045 0.170 288.89 23/12/2018
0.170 0.065 0.120 0.115 5256WA REACH-WA 0.120 Unch 5607.8 0.405 0.750 114.81 12/08/2022 0.130 0.020 0.025 0.020 5031CO TIMECOM-CO 0.025 Unch 560 9.000 9.750 10.28 30/04/2018
0.110 0.005 0.010 0.010 1066C2 RHBBANK-C2 0.010 Unch 100 2.530 5.600 122.53 28/02/2018 0.280 0.125 0.180 0.175 0101WB TMCLIFE-WB 0.180 Unch 637.1 0.850 0.750 9.41 21/06/2019
0.170 0.065 0.150 0.135 1066C3 RHBBANK-C3 0.150 0.005 160 5.140 5.000 6.03 29/06/2018 0.810 0.330 0.375 0.370 8397WC TNLOGIS-WC 0.375 0.005 130 1.330 1.000 3.38 26/12/2018
0.090 0.035 0.050 0.045 5270WA RSENA-WA 0.050 0.005 1745 0.465 0.500 18.28 01/12/2023 0.485 0.135 0.420 0.410 7285WA TOMYPAK-WA 0.420 Unch 47 0.980 0.930 37.76 21/06/2021
0.150 0.030 0.035 0.035 0133WD SANICHI-WD 0.035 Unch 281 0.115 0.300 191.30 21/07/2019 0.420 0.080 0.370 0.365 711319 TOPGLOV-C19 0.365 Unch 80 7.900 6.100 0.32 12/02/2018
0.100 0.005 0.010 0.005 521845 SAPNRGC45 0.005 Unch 4900.2 0.690 2.000 191.30 28/02/2018 0.350 0.090 0.320 0.315 711320 TOPGLOV-C20 0.315 -0.005 209.4 7.900 5.800 1.33 30/04/2018
0.075 0.005 0.005 0.005 521849 SAPNRGC49 0.005 -0.005 800 0.690 2.080 202.90 30/03/2018 0.735 0.280 0.680 0.640 711321 TOPGLOV-C21 0.645 Unch 88.8 7.900 5.650 0.09 31/07/2018
0.080 0.005 0.005 0.005 521851 SAPNRGC51 0.005 Unch 100 0.690 1.900 176.81 09/04/2018 0.460 0.170 0.410 0.385 711322 TOPGLOV-C22 0.390 Unch 724 7.900 6.800 5.33 31/05/2018
0.080 0.005 0.015 0.010 521852 SAPNRGC52 0.015 0.005 4132.1 0.690 1.580 135.51 29/06/2018 0.425 0.135 0.385 0.355 711323 TOPGLOV-C23 0.365 -0.005 379.8 7.900 6.500 3.07 28/09/2018
0.065 0.005 0.010 0.005 521853 SAPNRGC53 0.010 0.005 619.1 0.690 1.780 162.32 29/06/2018 0.255 0.125 0.220 0.220 711324 TOPGLOV-C24 0.220 Unch 178 7.900 7.000 8.38 24/07/2018
0.140 0.010 0.010 0.010 521854 SAPNRGC54 0.010 Unch 770 0.690 1.500 121.01 31/05/2018 0.200 0.095 0.180 0.170 711325 TOPGLOV-C25 0.170 -0.005 403.8 7.900 6.880 8.61 31/07/2018
0.090 0.010 0.015 0.010 521855 SAPNRGC55 0.015 0.005 300 0.690 1.550 131.16 24/07/2018 0.320 0.155 0.275 0.275 711326 TOPGLOV-C26 0.275 -0.005 200 7.900 7.000 6.01 11/06/2018
0.060 0.040 0.050 0.045 521857 SAPNRGC57 0.045 Unch 4410 0.690 1.450 126.45 25/06/2018 0.325 0.160 0.175 0.175 7176WA TPC-WA 0.175 0.010 10 0.380 0.200 -1.32 19/01/2021
0.025 0.005 0.020 0.015 0109WB SCBUILD-WB 0.015 Unch 8620.4 0.045 0.050 44.44 06/11/2019 0.060 0.017 0.025 0.020 0118WB TRIVE-WB 0.025 Unch 2026.4 0.045 0.090 155.56 28/08/2020
0.605 0.295 0.400 0.330 7247WA SCGM-WA 0.330 Unch 29.4 2.510 3.960 70.92 31/07/2020 0.360 0.200 0.215 0.210 5401WA TROP-WA 0.215 0.005 116.9 0.920 1.000 32.07 06/12/2019
0.185 0.075 0.105 0.100 0161WA SCH-WA 0.105 0.005 196.9 0.200 0.100 2.50 04/12/2021 0.460 0.025 0.420 0.395 0005WA UCREST-WA 0.400 0.005 1941 0.455 0.040 -3.30 20/03/2018
0.785 0.200 0.340 0.315 7073WB SEACERA-WB 0.340 0.020 59 0.915 1.000 46.45 29/05/2019 0.060 0.005 0.025 0.015 514846 UEMS-C46 0.025 0.005 1166.6 1.170 1.300 13.78 30/03/2018
0.540 0.115 0.540 0.475 5279CA SERBADK-CA 0.535 0.045 141.5 3.340 2.000 -0.07 02/02/2018 0.150 0.035 0.095 0.060 514847 UEMS-C47 0.095 0.030 4183 1.170 1.000 1.71 30/01/2018
0.350 0.090 0.350 0.320 5279CB SERBADK-CB 0.350 0.050 10.5 3.340 2.500 1.05 26/02/2018 0.075 0.025 0.045 0.040 514848 UEMS-C48 0.045 0.015 470 1.170 1.300 18.80 30/04/2018
0.430 0.120 0.430 0.375 5279CC SERBADK-CC 0.430 0.065 376.2 3.340 2.150 2.99 26/04/2018 0.045 0.020 0.035 0.025 514849 UEMS-C49 0.035 0.010 90 1.170 1.380 23.93 30/04/2018
0.320 0.090 0.320 0.275 5279CD SERBADK-CD 0.300 0.040 30 3.340 2.600 4.79 30/03/2018 0.075 0.010 0.035 0.020 514851 UEMS-C51 0.035 0.020 1220.1 1.170 1.200 8.55 22/02/2018
0.390 0.115 0.390 0.365 5279CE SERBADK-CE 0.390 0.025 175 3.340 2.200 0.90 30/03/2018 0.160 0.040 0.115 0.075 514852 UEMS-C52 0.115 0.045 8512.5 1.170 1.100 6.30 31/05/2018
0.180 0.120 0.180 0.180 5279CF SERBADK-CF 0.180 0.020 100 3.340 2.580 9.58 31/07/2018 0.045 0.020 0.045 0.030 514853 UEMS-C53 0.045 0.015 14738 1.170 1.250 15.30 30/04/2018
0.155 0.085 0.155 0.145 5279CG SERBADK-CG 0.155 0.030 756 3.340 2.880 14.07 31/07/2018 0.060 0.045 0.060 0.050 514854 UEMS-C54 0.060 0.015 120 1.170 1.400 27.35 11/06/2018
0.195 0.150 0.195 0.165 5279CH SERBADK-CH 0.185 0.020 110 3.340 2.900 8.98 11/06/2018 0.125 0.015 0.040 0.035 4588C2 UMW-C2 0.040 0.005 529.7 5.270 5.700 11.95 30/04/2018
0.205 0.165 0.205 0.175 5279CI SERBADK-CI 0.200 0.030 244.5 3.340 3.400 22.75 31/07/2018 0.270 0.095 0.185 0.175 5243WA UMWOG-WA 0.180 0.010 36544.6 0.330 0.395 74.24 18/10/2024
0.205 0.065 0.190 0.175 7165WA SGB-WA 0.190 0.005 65 0.615 0.600 28.46 07/04/2021 0.195 0.035 0.045 0.040 7091WA UNIMECH-WA 0.045 Unch 85 1.020 1.500 51.47 18/09/2018
0.205 0.065 0.190 0.175 7165WA SGB-WA 0.190 0.005 65 0.615 0.600 28.46 07/04/2021 0.200 0.015 0.045 0.045 5005CZ UNISEM-CZ 0.045 Unch 36 3.560 3.800 10.53 31/05/2018
0.350 0.150 0.160 0.155 7246WA SIGN-WA 0.160 0.005 189.4 0.695 0.970 62.59 21/04/2021 0.735 0.210 0.690 0.610 7240WA VERTICE-WA 0.690 Unch 20.2 1.100 0.500 8.18 31/03/2024
0.055 0.005 0.045 0.025 419715 SIME-C15 0.035 0.010 4025.4 2.410 10.000 322.20 19/03/2018 0.335 0.200 0.275 0.265 0120WB VIS-WB 0.265 -0.010 446.3 0.600 0.750 69.17 16/11/2022
0.185 0.085 0.185 0.120 419716 SIME-C16 0.165 0.045 5903.5 2.410 2.500 17.43 31/07/2018 0.320 0.115 0.280 0.280 0097CD VITROX-CD 0.280 Unch 40 6.210 4.800 4.35 19/04/2018
0.355 0.195 0.355 0.260 419717 SIME-C17 0.325 0.075 436.4 2.410 1.880 4.98 30/08/2018 0.315 0.130 0.250 0.240 0097CE VITROX-CE 0.245 0.010 150 6.210 5.000 4.19 09/04/2018
0.305 0.160 0.305 0.215 419718 SIME-C18 0.275 0.065 753.6 2.410 2.000 5.81 30/08/2018 0.265 0.095 0.210 0.210 0097CG VITROX-CG 0.210 Unch 170 6.210 4.800 4.35 30/04/2018
0.160 0.130 0.160 0.160 5285CA SIMEPLT-CA 0.160 0.010 655 5.500 5.650 14.36 30/08/2018 0.225 0.135 0.190 0.190 0097CH VITROX-CH 0.190 0.005 43.7 6.210 6.500 23.03 31/07/2018
0.140 0.110 0.140 0.140 5285CB SIMEPLT-CB 0.140 Unch 520 5.500 5.800 15.64 30/08/2018 0.090 0.025 0.040 0.035 0069WB VIVOCOM-WB 0.035 -0.005 6678.8 0.140 0.200 67.86 07/09/2018
0.150 0.035 0.150 0.115 5288CA SIMEPROP-CA 0.135 0.020 6051.8 1.520 1.450 13.16 30/08/2018 0.125 0.050 0.085 0.080 0069WC VIVOCOM-WC 0.085 Unch 400.8 0.140 0.100 32.14 22/01/2020
0.200 0.120 0.200 0.150 5288CB SIMEPROP-CB 0.180 0.030 1878.1 1.520 1.680 22.37 30/08/2018 0.115 0.055 0.085 0.085 0069WD VIVOCOM-WD 0.085 Unch 460 0.140 0.100 32.14 08/07/2020
0.450 0.110 0.410 0.395 7155CF SKPRES-CF 0.395 -0.015 56 2.190 1.400 0.00 08/01/2018 0.055 0.020 0.035 0.035 7070WB VIZIONE-WB 0.035 -0.005 1550 0.155 0.160 25.81 20/06/2018
0.275 0.145 0.240 0.225 7155CG SKPRES-CG 0.225 -0.015 2246.4 2.190 1.900 9.36 29/06/2018 0.125 0.030 0.105 0.100 7070WC VIZIONE-WC 0.105 Unch 222 0.155 0.100 32.26 05/02/2022
0.235 0.160 0.185 0.185 7155CI SKPRES-CI 0.185 -0.010 50 2.190 2.100 12.79 11/06/2018 0.215 0.140 0.180 0.170 6963CR VS-CR 0.170 -0.005 225 2.970 2.480 6.40 29/06/2018
0.366 0.120 0.120 0.120 5213WA SNTORIA-WA 0.120 -0.070 1.1 0.685 0.570 0.73 15/04/2019 0.190 0.115 0.150 0.135 6963CS VS-CS 0.135 -0.010 1285 2.970 2.680 8.42 29/06/2018
0.285 0.100 0.130 0.115 0093WA SOLUTN-WA 0.125 0.010 553.1 0.240 0.200 35.42 04/07/2021 0.280 0.205 0.215 0.205 6963CT VS-CT 0.205 -0.005 225 2.970 2.800 11.53 29/06/2018
0.185 0.070 0.105 0.095 8664C1 SPSETIA-C1 0.095 -0.030 140.2 3.380 3.409 6.34 19/03/2018 0.120 0.065 0.075 0.070 6963CU VS-CU 0.070 Unch 225.6 2.970 3.500 24.92 31/05/2018
0.160 0.045 0.070 0.065 8664C2 SPSETIA-C2 0.070 0.010 208.9 3.380 3.507 8.79 30/03/2018 0.085 0.050 0.050 0.050 6963CV VS-CV 0.050 -0.005 30 2.970 3.600 27.95 14/05/2018
0.220 0.130 0.220 0.200 8664C3 SPSETIA-C3 0.200 -0.020 203.4 3.380 3.166 5.19 30/08/2018 0.110 0.080 0.090 0.090 6963CW VS-CW 0.090 Unch 59.9 2.970 3.300 21.72 24/07/2018
0.115 0.080 0.095 0.095 8664C4 SPSETIA-C4 0.095 -0.010 230 3.380 4.000 25.37 31/07/2018 0.150 0.045 0.100 0.080 9679C3 WCT-C3 0.085 0.010 8122.4 1.610 1.700 14.83 29/06/2018
0.180 0.115 0.140 0.140 8664CZ SPSETIA-CZ 0.140 -0.010 40 3.380 3.020 5.47 26/04/2018 0.080 0.030 0.055 0.045 9679C4 WCT-C4 0.045 Unch 5937.4 1.610 1.850 21.34 30/04/2018
0.140 0.050 0.070 0.065 0129WA SRIDGE-WA 0.070 Unch 472.2 0.170 0.180 47.06 24/02/2023 0.065 0.025 0.035 0.030 9679C5 WCT-C5 0.035 Unch 1405 1.610 2.200 42.08 14/05/2018
0.150 0.005 0.005 0.005 6084CE STAR-CE 0.005 Unch 550 0.805 2.261 182.21 26/02/2018 0.090 0.065 0.090 0.085 9679C6 WCT-C6 0.085 -0.005 338 1.610 1.780 26.40 31/07/2018
0.125 0.020 0.075 0.070 0140WA STERPRO-WA 0.075 0.005 733.2 0.275 0.480 101.82 17/02/2021 0.570 0.180 0.290 0.255 9679WE WCT-WE 0.275 0.015 2935.9 1.610 2.080 46.27 27/08/2020
0.150 0.020 0.020 0.020 7143WA STONE-WA 0.020 -0.005 211.3 0.200 0.300 60.00 21/06/2020 0.140 0.040 0.115 0.110 5246CT WPRTS-CT 0.115 0.010 553 3.750 3.650 6.53 30/04/2018
0.180 0.095 0.180 0.165 0080WA STRAITS-WA 0.175 0.010 6924.8 0.280 0.115 3.57 10/08/2022 0.930 0.525 0.545 0.530 7245WA WZSATU-WA 0.545 0.020 11.8 0.975 0.500 7.18 28/10/2024
0.065 0.015 0.030 0.025 1201WA SUMATEC-WA 0.025 -0.005 497.4 0.050 0.320 590.00 03/03/2021 0.220 0.020 0.120 0.105 5156WC XDL-WC 0.120 Unch 750 0.290 0.160 -3.45 02/07/2018
0.060 0.015 0.015 0.015 1201WB SUMATEC-WB 0.015 -0.005 589.2 0.050 0.175 280.00 13/11/2018 0.020 0.005 0.010 0.005 0095WA XINGHE-WA 0.005 -0.005 550 0.050 0.100 110.00 22/03/2019
0.185 0.125 0.175 0.160 5263CM SUNCON-CM 0.175 0.015 2345.8 2.510 2.300 3.83 31/07/2018 0.110 0.040 0.050 0.045 0165WA XOX-WA 0.050 0.005 4843.1 0.105 0.200 138.10 10/02/2019
0.135 0.110 0.135 0.130 5263CO SUNCON-CO 0.135 0.020 1000 2.510 2.400 9.06 24/07/2018 0.260 0.165 0.200 0.200 7003WA Y&G-WA 0.200 Unch 1.1 1.000 1.000 20.00 16/11/2019
0.090 0.005 0.005 0.005 3743CA SUNSURIA-CA 0.005 Unch 120 0.640 1.600 151.56 26/02/2018 0.110 0.035 0.050 0.050 7020WB YKGI-WB 0.050 0.005 0.5 0.170 0.500 223.53 28/05/2020
0.505 0.180 0.350 0.340 3743WA SUNSURIA-WA 0.350 0.010 76 1.300 1.500 42.31 22/07/2020 1.130 0.825 1.120 1.050 7066WA YONGTAI-WA 1.090 0.050 967.3 1.590 0.500 0.00 24/06/2020
0.735 0.305 0.640 0.600 5211WB SUNWAY-WB 0.620 0.020 1407.1 1.780 1.860 39.33 03/10/2024 0.090 0.020 0.085 0.075 467712 YTL-C12 0.085 0.010 309.2 1.340 1.350 7.09 29/06/2018
0.235 0.070 0.135 0.135 0148WB SUNZEN-WB 0.135 0.005 0.1 0.300 0.250 28.33 25/02/2021 0.050 0.010 0.025 0.025 467713 YTL-C13 0.025 Unch 30 1.340 1.471 13.40 09/04/2018
0.155 0.010 0.040 0.030 710627 SUPERMX-C27 0.035 0.005 2999.9 1.970 2.000 5.08 02/02/2018 0.115 0.005 0.015 0.010 6742C1 YTLPOWR-C1 0.015 0.005 450 1.310 1.400 8.02 28/02/2018
0.065 0.005 0.015 0.010 710628 SUPERMX-C28 0.015 0.005 654.2 1.970 2.200 13.58 22/01/2018 0.095 0.025 0.095 0.095 6742C2 YTLPOWR-C2 0.095 0.010 5 1.310 1.300 6.49 30/08/2018
0.090 0.020 0.040 0.035 710629 SUPERMX-C29 0.040 0.010 6055.3 1.970 1.900 2.74 30/01/2018 0.435 0.100 0.180 0.150 6742WB YTLPOWR-WB 0.180 0.030 384.2 1.310 1.110 -1.53 11/06/2018
0.340 0.090 0.275 0.250 710630 SUPERMX-C30 0.260 0.010 337.7 1.970 1.850 7.11 29/06/2018 0.095 0.025 0.035 0.030 2283WA ZELAN-WA 0.035 Unch 836.2 0.120 0.250 137.50 25/01/2019
0.155 0.065 0.115 0.110 710631 SUPERMX-C31 0.110 0.005 420 1.970 2.100 17.77 29/06/2018
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 4, 2 0 1 8 • TH EEDGE FI N AN C I AL DAI LY

INSIDER MOVES . TRADING THEMES . EVENTS . FOREX

Insider moves (Filings on Jan 2, 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. Asia-Pacific equities analyst revisions score
COMPANY SHARES ACQUIRED DIRECTOR/SUBSTANTIAL SHARES HELD TRANSACTION
(DISPOSED) SHAREHOLDER AFTER CHANGE DATE Large- and mid-cap stocks ranked on StarMine’s measure of change in analyst sentiment.
ASTRO MALAYSIA 1,202,100 EMPLOYEES PROVIDENT FUND BOARD 361,068,200 28/12
BARAKAH OFFSHORE PETROLEUM 10,230,000 NIK HAMDAN BIN DAUD 331,396,337 29/12
BUMI ARMADA 552,400 EMPLOYEES PROVIDENT FUND BOARD 376,707,195 26/12
CAHYA MATA SARAWAK (1,250,000) DATO SRI MAHMUD ABU BEKIR TAIB 26,819,255 29/12
CAHYA MATA SARAWAK 256,000 EMPLOYEES PROVIDENT FUND BOARD 131,729,127 26 & 27/12
CCM DUOPHARMA BIOTECH (204,665,784) CHEMICAL COMPANY OF MALAYSIA 28/12
CHEETAH 3,500,000 CHIA KEE FOO 69,999,919 28/12
CUSCAPI (3,959,000) HER CHOR SIONG 12,963,577 28 & 29/12
DIALOG GROUP (200,000) EMPLOYEES PROVIDENT FUND BOARD 564,866,150 27/12
DIGI.COM 1,648,100 EMPLOYEES PROVIDENT FUND BOARD 1,135,595,172 26 & 27/12
DIVERSIFIED GATEWAY (20,000,000) OMESTI 229,157,709 28 & 29/12
SOLUTIONS
EASTERN & ORIENTAL 937,200 LEMBAGA TABUNG HAJI 98,502,500 27 & 28/12
GADANG 785,700 EMPLOYEES PROVIDENT FUND BOARD 38,172,650 27/12
GD EXPRESS CARRIER 856,600 TEONG TECK LEAN 2,180,301,708 22/12
GLOBETRONICS TECHNOLOGY 339,100 EMPLOYEES PROVIDENT FUND BOARD 30,110,700 27/12
HAP SENG PLANTATIONS 267,500 LEMBAGA TABUNG HAJI 61,461,000 28/12
HOVID 13,256,600 FAJAR ASTORIA 297,187,406 27 & 28/12
INARI AMERTRON 237,400 EMPLOYEES PROVIDENT FUND BOARD 106,603,700 27/12
MALAYAN BANKING 13,000,000 AMANAHRAYA TRUSTEES 3,679,421,211 28/12
- SKIM AMANAH SAHAM BUMIPUTERA
MALAYAN BANKING (635,900) EMPLOYEES PROVIDENT FUND BOARD 1,344,656,561 27/12
MALAYSIA AIRPORTS (294,500) EMPLOYEES PROVIDENT FUND BOARD 190,725,092 27/12
MAXIS 2,645,400 EMPLOYEES PROVIDENT FUND BOARD 895,144,224 26 & 27/12
MAXWELL INTERNATIONAL (21,000,000) LI KWAI CHUN, HONG KONG 106,016,046 29/12

MEDIA PRIMA 2,297,000 MORGAN STANLEY & CO. LLC. US 136,390,300 28/12
MMAG 12,000,000 CHAN SWEE YING 102,354,900 29/12 Monthly price change in local currency terms December 2017
MY E.G. SERVICES 8,500,000 ASIA INTERNET 1,086,280,444 2/1
OPCOM (420,100) DATO’ SERI MUKHRIZ MAHATHIR 39,256,000 28/12
ORIENTAL 500,000 EMPLOYEES PROVIDENT FUND BOARD 56,463,016 27/12
PETRONAS CHEMICALS GROUP 442,700 EMPLOYEES PROVIDENT FUND BOARD 647,324,500 27/12
PETRONAS GAS 314,000 EMPLOYEES PROVIDENT FUND BOARD 190,953,100 27/12
POS MALAYSIA (425,000) EMPLOYEES PROVIDENT FUND BOARD 63,300,500 27/12
PUBLIC BANK 1,018,100 EMPLOYEES PROVIDENT FUND BOARD 572,200,400 27/12
SAPURA ENERGY (5,000,000) AMANAHRAYA TRUSTEES 398,019,800 28/12
- SKIM AMANAH SAHAM BUMIPUTERA
SAPURA ENERGY (2,419,100) EMPLOYEES PROVIDENT FUND BOARD 686,664,844 27/12
SEACERA GROUP 467,900 ZULKARNIN BIN ARRIFIN 56,627,740 29/12
SIME DARBY 917,400 EMPLOYEES PROVIDENT FUND BOARD 759,113,010 26 & 27/12
SIME DARBY PLANTATION 5,899,000 EMPLOYEES PROVIDENT FUND BOARD 809,532,931 26 & 27/12
SIME DARBY PROPERTY 1,564,200 EMPLOYEES PROVIDENT FUND BOARD 734,572,210 27/12
STERLING PROGRESS 28,597,100 SEG CAPITAL INTELLIGENCE 28,597,100 29/12
SUNWAY 418,100 EMPLOYEES PROVIDENT FUND BOARD 269,014,002 27/12
SUNWAY REAL ESTATE (1,017,000) AMANAHRAYA TRUSTEES 160,835,100 28/12
INVESTMENT TRUST - SKIM AMANAH SAHAM BUMIPUTERA
SUNWAY REAL ESTATE 1,000,000 EMPLOYEES PROVIDENT FUND BOARD 411,935,500 27/12
INVESTMENT TRUST
TELEKOM MALAYSIA (382,700) AMANAHRAYA TRUSTEES 429,881,300 28/12
- SKIM AMANAH SAHAM BUMIPUTERA
TELEKOM MALAYSIA (160,000) EMPLOYEES PROVIDENT FUND BOARD 675,868,101 27/12
TENAGA NASIONAL 538,100 AMANAHRAYA TRUSTEES 457,721,100 27/12
- SKIM AMANAH SAHAM BUMIPUTERA
TENAGA NASIONAL 12,669,300 EMPLOYEES PROVIDENT FUND BOARD 669,350,282 22,26 & 27/12
TENAGA NASIONAL 2,271,200 KUMPULAN WANG PERSARAAN 341,701,125 28/12
(DIPERBADANKAN)
TOP GLOVE CORPORATION 386,700 EMPLOYEES PROVIDENT FUND BOARD 76,068,544 27/12
UEM SUNRISE 352,900 LEMBAGA TABUNG HAJI 337,430,500 28/12 Stocks closest to year high Stocks closest to year low
VERSATILE CREATIVE 1,704,000 DATO’ WONG KONG CHOONG 10581600 5, 6 & 22/12 STOCK HIGH LOW CLOSE VOLUME STOCK HIGH LOW CLOSE VOLUME
@ LEONG KONG CHOONG (RM) (RM) (RM) ('000) (RM) (RM) (RM) ('000)
WAH SEONG CORPORATION (1,596,600) EMPLOYEES PROVIDENT FUND BOARD 40,545,370 27/12
QL 4.440 4.360 4.440 260 UZMA 1.320 1.260 1.290 1896.8
YINSON 528,500 EMPLOYEES PROVIDENT FUND BOARD 127,941,716 27/12
INARI-WB 2.780 2.610 2.780 354.4 SCGM 2.640 2.500 2.510 331.9
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 LYSAGHT 4.400 4.020 4.400 125.7 HSI-H2Q 0.010 0.010 0.010 200
Bursa Malaysia. Note: * denotes Ace Market PCHEM-C13 0.300 0.250 0.300 1014.3 HARTA-C5 0.265 0.260 0.260 20
PCHEM 8.040 7.850 7.950 7964.3 ASIAPAC-WB 0.085 0.065 0.085 1.1
WASEONG 1.360 1.100 1.310 5051.8 ULICORP 3.460 3.340 3.350 59.9
INARI-C3 0.435 0.385 0.435 100 KOMARK-WB 0.080 0.060 0.080 63

Local events to watch out for today INARI-C9

INARI-C8
0.405
0.345
0.360
0.310
0.395
0.345
799.8
55.5
PRLEXUS
VS-CV
0.765
0.050
0.720
0.050
0.730
0.050
1569.3
30
INARI-C11 0.165 0.155 0.165 251 AMFIRST 0.680 0.670 0.675 105.4
INARI 3.600 3.420 3.580 15918.2 FBMKLCI-H4M 0.065 0.065 0.065 10
• Scomi Group Bhd’s extraordinary gener- personality, Angel Wong Chui Ling at The SERBADK-CE 0.390 0.365 0.390 175 ECOWLD-CM 0.095 0.090 0.095 950.1
al meeting at Bukit Kiara Equestrian and Cellar Signature, C-GF-6 and 7, Ground PCHEM-C14 0.220 0.210 0.220 203.5 WZSATU 0.990 0.970 0.975 362
Country Resort, Dewan Berjaya, Jalan Bukit Floor Sky Park, One City, Subang Jaya BURSA-C14 0.125 0.100 0.125 2586 HSI-H2T 0.115 0.115 0.115 2
Kiara, off Jalan Damansara, Kuala Lumpur from 10.30am to 1pm. MYEG-C25 0.255 0.155 0.245 1652.8 MUHIBAH-CE 0.045 0.030 0.035 420
at 10am. • Institute for Democracy and Economic MYEG 2.520 2.220 2.460 52727.3 BJASSET-WA 0.015 0.010 0.015 30.1
MYEG-C24 0.175 0.085 0.155 114612.9 LFECORP 0.220 0.215 0.215 320
• 11street, with Just Order Conveniently on Affairs invites you to Pascal Lamy — Im-
MYEG-C21 0.090 0.050 0.085 7556.7 FBMKLCI-H4J 0.315 0.305 0.315 6
Mobile, invites you to cook up 10 prosperity portance of Global trade in the age of ris- MYEG-C29 0.260 0.210 0.240 760.4 UMSNGB 1.150 1.040 1.150 8.1
dishes to unveil the start of 10-episode on- ing protectionism — at Intercontinental MYEG-C27 0.150 0.115 0.145 620.5 FGV-C36 0.035 0.025 0.025 2307.9
line cooking show, featuring a prominent Hotel, Jalan Ampang, Kuala Lumpur at INARI-C4 0.380 0.340 0.380 1480 SAPNRGC49 0.005 0.005 0.005 800
chef in Malaysia chef Cheah Kee Khiang, 3.30 to 5pm. This table shows stocks that are trading near their year high. This This table shows stocks that are trading near their year low. This
and hosted by well-known host and TV 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 $ 0.592 0.711 0.694 0.524 0.890 0.949 0.945 0.907 2.8543 4.620 58.785 4.404 2.611 9,578 45.164 79.778 5.762 35.455 2.588 2.666 5.811 22.962 5.557
EURO 1.690 1.202 1.173 0.886 1.504 1.604 1.598 1.533 4.8244 7.808 99.360 7.444 4.413 16,189 76.338 134.843 9.738 59.927 4.374 4.506 9.822 38.812 9.393
US $ 1.407 0.832 0.976 0.737 1.252 1.335 1.330 1.276 4.0150 6.498 82.690 6.195 3.673 13,473 63.530 112.220 8.105 49.873 3.640 3.750 8.174 32.300 7.817
SWISS FR 1.441 0.853 1.024 0.755 1.283 1.368 1.362 1.307 4.1133 6.657 84.715 6.347 3.763 13,803 65.086 114.967 8.303 51.094 3.729 3.842 8.374 33.091 8.009
STERLING £ 1.908 1.129 1.356 1.324 1.698 1.811 1.803 1.731 5.4455 8.813 112.152 8.403 4.982 18,273 86.166 152.202 10.992 67.643 4.937 5.086 11.086 43.808 10.602
CANADA $ 1.124 0.665 0.799 0.780 0.589 1.066 1.062 1.019 3.2071 5.190 66.051 4.949 2.934 10,762 50.747 89.639 6.474 39.838 2.908 2.996 6.529 25.801 6.244
BRUNEI $ 1.054 0.623 0.749 0.731 0.552 0.938 0.996 0.956 3.0075 4.867 61.940 4.641 2.751 10,092 47.589 84.060 6.071 37.358 2.727 2.809 6.123 24.195 5.856
SINGAPORE $ 1.058 0.626 0.752 0.734 0.554 0.942 1.004 0.960 3.0195 4.887 62.188 4.659 2.762 10,133 47.778 84.395 6.095 37.507 2.737 2.820 6.147 24.291 5.879
AUSTRALIA $ 1.102 0.652 0.784 0.765 0.578 0.981 1.046 1.042 3.1462 5.092 64.797 4.855 2.878 10,558 49.783 87.937 6.351 39.081 2.852 2.939 6.405 25.311 6.126
MALAYSIA RM 0.350 0.207 0.249 0.243 0.184 0.312 0.333 0.331 0.318 1.0000 1.618 20.595 1.543 0.915 3,356 15.823 27.950 2.019 12.422 0.907 0.934 2.036 8.045 1.947
100 CHINESE RMB 21.647 12.807 15.389 15.022 11.347 19.266 20.545 20.463 19.639 61.7880 1,273 95.340 56.525 207,342 977.689 1,727 124.723 767.515 56.017 57.713 125.790 497.076 120.301
100 BANGLAD’H TAKA 1.701 1.006 1.209 1.180 0.892 1.514 1.614 1.608 1.543 4.8555 7.858 7.492 4.442 16,294 76.830 135.711 9.801 60.313 4.402 4.535 9.885 39.062 9.454
100 DANISH KRONER 22.705 13.433 16.141 15.756 11.901 20.208 21.549 21.463 20.599 64.8080 104.89 1,335 59.288 217,477 1,025.48 1,811 130.82 805.03 58.75 60.53 131.94 521.37 126.18
100 UAE DIRHAM 38.297 22.658 27.226 26.575 20.074 34.084 36.346 36.202 34.744 109.3112 176.91 2,251 168.67 366,816 1,730 3,055 220.65 1,358 99.10 102.10 222.54 879.39 212.83
1000 INA RUPIAH 0.010 0.006 0.007 0.007 0.005 0.009 0.010 0.010 0.009 0.0298 0.048 0.614 0.046 0.027 0.472 0.833 0.060 0.370 0.027 0.028 0.061 0.240 0.058
100 INDIA RUPEE 2.214 1.310 1.574 1.536 1.161 1.971 2.101 2.093 2.009 6.3198 10.228 130.158 9.752 5.781 21,207 176.639 12.757 78.503 5.730 5.903 12.866 50.842 12.305
100 JAPAN YEN 1.253 0.742 0.891 0.870 0.657 1.116 1.190 1.185 1.137 3.5778 5.790 73.686 5.521 3.273 12,006 56.613 7.222 44.443 3.244 3.342 7.284 28.783 6.966
100 NORWEGIAN KRONER 17.356 10.269 12.339 12.044 9.097 15.447 16.472 16.407 15.746 49.5400 80.177 1,020 76.441 45.320 166,242 783.886 1,385 615.373 44.913 46.273 100.855 398.542 96.454
100 PHILIPPINE PESO 2.820 1.669 2.005 1.957 1.478 2.510 2.677 2.666 2.559 8.0504 13.029 165.800 12.422 7.365 27,015 127.384 225.010 16.250 7.298 7.519 16.389 64.764 15.674
100 QATAR RIYAL 38.644 22.863 27.473 26.816 20.256 34.393 36.676 36.530 35.059 110.3022 178.517 2,272 170.198 100.907 370,142 1,745 3,083 222.653 1,370 103.027 224.557 887.366 214.758
100 SAUDI RIYAL 37.509 22.192 26.665 26.028 19.660 33.382 35.598 35.457 34.029 107.0610 173.272 2,205 165.197 97.941 359,265 1,694 2,992 216.110 1,330 97.062 217.958 861.291 208.448
100 SWEDISH KRONOR 17.209 10.182 12.234 11.942 9.020 15.316 16.333 16.268 15.612 49.1200 79.498 1,011.641 75.793 44.936 164,832 777.240 1,373 99.152 610.156 44.532 45.880 395.163 95.637
100 THAI BAHT 4.355 2.577 3.096 3.022 2.283 3.876 4.133 4.117 3.951 12.4303 20.118 256.006 19.180 11.371 41,712 196.688 347.429 25.091 154.406 11.269 11.610 25.306 24.202
100 HK$ 17.994 10.646 12.792 12.487 9.432 16.015 17.078 17.010 16.325 51.3611 83.125 1,057.797 79.251 46.986 172,353 812.701 1,436 103.676 637.994 46.564 47.974 104.563 413.193
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 4 , 20 1 8 • T HEED G E FINA NCIA L DA ILY
Markets 3 1
FUTURES . MONEY MARKET . COMMODITIES

Index futures Money market

FKLI Long Rolls - KLCI futures US Dollar Klibor
Index points Open Interest Index points USD Index Implied interest rate (%)
105.0
1980 90000 18.00 -1.50 92.084 4.5
1,799.50 (+0.50) (+0.212) 3.50
(+5.50) (Unch)
4.75 96.5
1785 68000
3.5

1590 -8.50 88.0

46000

2.5
1395 24000 -21.75 79.5

1200 2000 -35.00 71.0 1.5

Jan 4, 2010 Jan 3, 2018 Jan 4, 2010 Jan 3, 2018 Oct 2, 2006 Jan 3, 2018 Oct 1, 2000 Jan 3, 2018

FBM KLCI futures FBM KLCI futures US dollar rebound leaves Klibor
contracts close firmer INDEX AND FUTURES
CONTRACT LAST CHANGE VOLUME
OPEN CHANGE IN
INTEREST OPEN INTEREST
investors disinterested MONTH SETTLEMENT
PRICE
CHANGE VOLUME OPEN
INTEREST

The FBM KLCI futures contracts on FBMKLCI 1,792.79 10.09 85M The US dollar bounced yesterday, snapping JAN8 96.55 — — —
FEB8 96.53 — — —
Bursa Malaysia Derivatives closed firmer JAN 18 1,799.50 5.50 6,955 30,787 1,597 a three-week losing streak as investors MAR8 96.50 — — —
yesterday, tracking the bullish underlying FEB 18 1,798.00 4.00 115 188 73
consolidated positions before manufacturing JUN8 96.45 — — —
MAR 18 1,795.00 6.00 91 510 9
cash market. JUN 18 1,791.50 7.50 29 168 13
data and minutes of a December US Federal SEP8 96.45 — — —
At close, January 2018 was 5.5 points TOTAL Reserve meeting due later in the day. DEC8 96.45 — — —
7,190 31,653 1,692
MAR9 96.45 — — —
higher at 1,799.5; February 2018 gained But despite the US dollar’s rebound, JUN9 96.45 — — —
four points to 1,798; March 2018 rose six FUTURES
JAN/FEB
ROLL OVER BID
-0.5
OFFER
-1.5
CLOSE
-1.5
market strategists remain downbeat about SEP9 96.45 — — —
points to 1,795; while June 2018 bagged the prospects of the greenback in the near DEC9 96.45 — — —
7.5 points to 1,791.5. FUTURES FAIR VALUE term on concerns that future US rate hikes MAR0 96.45 — — —
JUN0 96.45 — — —
Turnover increased to 7,190 lots from CONTRACT
JAN 18
DAYS TO EXPIRY
28
KLIBOR DIVIDEND FAIR VALUE
4.19 0.00 4.54
were broadly priced into the markets. SEP0 96.45 — — —
Tuesday’s 5,241 lots, while open interest FEB 18 57 8.70 5.36 3.34 “From a DXY basis, there is very little DEC0 96.45 — — —
widened to 31,653 contracts from 27,874 ROLL’S FAIR -1.20 going on for the US dollar from current levels MAR1 96.45 — — —
contracts, previously. as we are seeing the continuation of very easy JUN1 96.45 — — —
SEP1 96.45 — — —
The underlying benchmark FBM KLCI financial conditions with accompanying
DEC1 96.45 — — —
finished 10.09 points higher at 1,792.79. fiscal stimulus,” said Timothy Graf, head MAR2 96.45 — — —
Most Southeast Asian stock markets rose of macro strategy for EMEA at State Street JUN2 96.45 — — —
yesterday, tracking broader Asian shares Global Markets referring to the US dollar’s SEP2 96.45 — — —
that marked a 10-year top on improved the Philippine and Thai indices hitting trade-weighted basket against its rivals by DEC2 96.45 — — —
TOTAL 0 0
prospects for global economic growth, with record closing highs. — Agencies its popular acronym. — 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 Gold

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

3450 5075 0.3392 0.525 121.25

1660
152500 (RM3,000/tonne) 1,316.00
(-0.10)
2700 3750 87.50
1340
105000 0.350
60.66
(+0.29)
1950 2425 0.175 53.75 1020
2,607 57500
(+75) 2,607
1200 (+75) 700
10000 1100 0.000 20.00
Jan 6, 2008 Jan 3, 2018 Apr 10, 2007 Jan 3, 2018 Aug 31, 2008 Jan 3, 2018
Jan 6, 2008 Jan 3, 2018

Palm oil rises nearly 3% as CPO futures Oil hits new 2½-year high Commodities

demand outlook improves CONTRACT

JAN-18
LAST
2,555
CHANGE
83
VOLUME
499
OPEN CHANGE IN
INTEREST OPEN INTEREST
1,999 -854
as higher output looms AGRICULTURE
CRUDE PALM OIL
UNIT
RM/TON
EXCHANGE
MDEX
LAST PRICE CHANGE
2,607 75
RUBBER SEN/KG MRB 572.00 -9.00
FEB-18 2,594 85 10,704 33,676 -2,438
Malaysian palm oil futures surged nearly Oil prices rose yesterday to new 2½-year CORN USC/BSH CBOT 354.25 1.00
MAR-18 2,607 75 37,621 78,650 -1,851
SOYBEANS USC/BSH CBOT 955.00 3.25
3% to their highest in a month yesterday on APR-18 2,612 63 8,226 44,067 227 high as robust output in the US and Russia
WHEAT USC/BSH CBOT 436.00 2.50
expectations for strengthening demand in MAY-18 2,613 56 11,882 56,881 -147 balanced tensions from a sixth day of unrest LIVE CATTLE USC/IBS CME 124.10 -0.70
coming weeks. CPO FUTURES CPO/SOYOIL in Opec member Iran. COCOA US$/TON NYBOT 1,918 -17
The benchmark palm oil contract for March INDICATIVE ROLL-OVER CURRENT FUTURES BASIS (USD) US West Texas Intermediate crude futures COFFEE USC/IBS NYBOT 131.75 -0.65
JAN/FEB -39 -74.29
delivery on Bursa Malaysia Derivatives rose JAN/MAR -52 3 MONTHS AVERAGE -96.51
were at US$60.66 a barrel, up 29 US cents SUGAR USC/IBS NYBOT 15.20 0.01
2.9% at RM2,607 a tonne, its strongest daily gain JAN/APR from their last close and their highest level COTTON USC/IBS NYC 78.21 0.07
-57 6 MONTHS AVERAGE -90.50
in about nine months. It earlier hit RM2,612, FEB/MAR -13 since June 2015. METAL & PRECIOUS METALS
TIN US$/TON KLTM 19,850 -150
its highest level since Dec 4. SGS & ITS EXPORT ESTIMATES (TONNES) Brent crude futures, the international COPPER USC/IBS CMX 3.2535 -0.0245
“The market is reacting towards the SHIPMENT DAYS OCT’17 NOV’17 DEC’17 benchmark for oil prices were at US$66.88 GOLD US$/TROY OZ CMX 1,316.00 -0.10
anticipation of better exports going forward,” 1 - 10TH DAYS 462/448 440/437 339/364 a barrel, up 31 US cents but still trailing PLATINUM US$/TROY OZ NYMEX 946.30 2.00
1 - 15TH DAYS 709/690 651/660 581/597
said a futures trader in Kuala Lumpur. Tuesday’s high of US$67.29 that was the PALLADIUM US$/TROY OZ NYMEX 1,067.40 -10.70
Another trader said demand from China 11 -- 20TH DAYS
25TH DAYS
968/951
1,197/1,178
883/892 865/874
1,094/1,079 1,108/1,091
most since May 2015. SILVER USC/TROY OZ CMX 17.06 -0.10
should pick up ahead of the Chinese New FULL MONTH Ca r s t e n F r i t s c h, a n a na l y s t at ALUMINIUM RMB/TON SHF 15,165 -95
1,417/1,407 1,311/1,332 1,439/1,422
ZINC RMB/TON SHF 25,765 -85
Year celebrations next month. MALAYSIAN PALM OIL BOARD Commerzbank, warned that prices faced
“We may experience a rally this month on AUG’17 SEP’17 OCT’17 NOV’17 a correction as support lent by unrest in ENERGY
LIGHT CRUDE OIL US$/BBL NYMEX 60.66 0.29
the back of better demand and firmer external PRODUCTION 1,810 1,780 2,009 1,943 Iran will weaken unless the situation begins HEATING OIL USC/GAL NYMEX 2.0444 0.0113
pricing,” he added, referring to soyoil on both EXPORT
STOCKS
1,487
1,942
1,515
2,019
1,549
2,190
1,354
2,557
to affect oil production, which is not yet NATURAL GAS US$/MMBTU NYMEX 2.911 -0.062
the Chicago Board of Trade (CBoT) and China’s the case, or the US re-imposes sanctions. BRENT CRUDE US$/BBL ICE 66.88 0.31
MPOB Palm oil physical
Dalian Commodity Exchange (DCE). — Reuters GAS OIL US$/TON ICE 602.00 5.00
Palm oil prices track the performance (IN RM/TON) JAN’18 FEB’18 MAR’18

of other edible oils, as they compete for a CPO DELD

PK EX-MILL
2,485
2,396
NO TRADE NO TRADE
NO TRADE NO TRADE
Centrifuged Latex Rubber - M’sia SMR 20
share in the global vegetable oils market. CPKO DELD 4,993 NO TRADE NO TRADE Sen/Kg Sen/Kg
The March soybean oil contract on the CBoT RBD P.OIL FOB NO TRADE NO TRADE NO TRADE 1100 1900
saw overnight gains of 0.9%, and was last up RBD P.OLEIN FOB NO TRADE NO TRADE NO TRADE
468.00
by 0.7% yesterday. In other related oils, May RBD P. STEARIN FOB NO TRADE NO TRADE NO TRADE 900 (-7.00) 1475 572.00
(-9.00)
soybean oil on the DCE was up 0.2%, while the MPOB FFB REF PRICE (MILL GATE PRICE)
DCE January palm oil contract gained 0.5%. REGION GRADE A GRADE B GRADE C 700 1050
OER (RM/TON) OER(RM/TON) OER (RM/TON)
Malaysian palm oil shipments, which NORTH 20.00% 553 19.00% 529 18.00% 505
gained 6% to 9% on the month in December SOUTH 20.00% 561 19.00% 536 18.00% 512
500 625

according to cargo surveyor data, are CENTRAL 20.00% 549 19.00% 525 18.00% 501
expected to rise further in January on EAST COAST 20.00% 553 19.00% 529 18.00% 505 300 200

improved demand from China. — Reuters SABAH SARAWAK

22.00% 535
22.00% 541
21.00% 513
21.00% 519
20.00% 491
20.00% 496
Jan 7, 2007 Jan 3, 2018 Jan 7, 2007 Jan 3, 2017
 Markets
32 T HU R SDAY JAN UARY 4, 2 0 1 8 • TH EEDGE F I 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; SUGUMARAN [sagu@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 1,792.79 10.09 FBM ACE 6,830.20 118.17 FTSTI 3,464.28 33.98 NIKKEI 22,764.94 19.04 HANG SENG 30,560.95 45.64 DOW JONES 24,824.01 104.79

It is a profitable thing, if one is wise, Market movers

to seem foolish. — Aeschylus
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 HUAAN 164,430.9 0.040 9.52 0.460 — 0.00
('000) (%) (RM) (RM) (RM) (RM) SAPNRG 114,837.0 0.015 2.22 0.690 — 1.48
Index point
1807.0 MYEG-C24 114,613 82.35 0.070 0.155 0.175 0.085 MYEG-C24 114,612.9 0.025 19.23 0.155 — 0.00
1804.7 KLCI futures DRBHCOMC37 111,345 4.17 0.010 0.250 0.345 0.230 DRBHCOMC37 111,344.7 -0.050 -16.67 0.250 — 0.00
1,799.50 DGB-WA 91,672 -14.29 -0.005 0.030 0.040 0.025 DGB 103,257.5 0.035 19.44 0.215 128.57 0.00
1802.4 (+5.50)
1800.1 MRCB 82,502 7.76 0.090 1.250 1.270 1.170 DGB-WA 91,672.0 -0.005 -14.29 0.030 — 0.00
1797.8 DNEX-WD 79,302 -2.13 -0.005 0.230 0.245 0.225 MRCB 82,501.5 0.090 7.76 1.250 11.35 2.07
DBE 77,253 16.67 0.005 0.035 0.035 0.030 DNEX-WD 79,302.1 -0.005 -2.13 0.230 — 0.00
1795.5
KL Composite Index PA-WB 76,041 0.00 0.000 0.040 0.045 0.035 DBE 77,253.1 0.005 16.67 0.035 — 0.00
1793.2 1,792.79
(+10.09) FGV-C40 72,510 21.43 0.015 0.085 0.105 0.075 PA-WB 76,040.7 UNCH UNCH 0.040 — 0.00
1790.9 DRBHCOM 69,959 1.77 0.040 2.300 2.510 2.270 DNEX 74,423.9 0.010 1.89 0.540 12.59 0.94
1788.6 IRIS 69,797 5.26 0.010 0.200 0.205 0.185 DGSB 72,836.8 UNCH UNCH 0.140 1,400.00 0.00
1786.3 EKOVEST 62,708 10.27 0.095 1.020 1.050 0.930 FGV-C40 72,509.7 -0.005 -5.56 0.085 — 0.00
1784.0 MMAG-PA 57,664 0.00 0.000 0.095 0.100 0.085 DRBHCOM 69,958.7 0.040 1.77 2.300 7.39 0.44
8:45 9:30 10:30 11:30 12:45 14:30 15:30 16:30 17:15
FINTEC-PA 56,782 12.50 0.010 0.090 0.095 0.075 IRIS 69,797.1 0.010 5.26 0.200 — 0.00
MMAG-WB 56,098 -6.25 -0.005 0.075 0.085 0.070 UMWOG 69,229.3 0.005 1.54 0.330 — 0.00
Daily FBM KLCI MYEG 52,727 10.31 0.230 2.460 2.520 2.220 HUBLINE 64,808.9 UNCH UNCH 0.140 — 0.00
FINTEC 50,037 3.13 0.005 0.165 0.170 0.155 EKOVEST 62,707.7 0.095 10.27 1.020 17.23 2.16
KL Composite Index Moving average - 20-day PA 57,985.2 UNCH UNCH 0.070 — 0.00
Table above is from Reuters Volume break 3x 5-day average volume, meaning the total number of shares
2030.0 MMAG-PA 57,663.7 UNCH UNCH 0.095 — —
1,792.79 traded for a particular counter on the previous trading day is more than triple the average volume for the
(+10.09) 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
1,750.60 FBM KLCI up as Bursa volume CLOSE
CHANGE
(RM)
DOWN
CLOSE
CHANGE
(RM)

tops five billion shares NESTLE

TASEK-PA
102.000
13.840
0.900
0.500
HENGYUAN
DLADY
17.400
60.500
-0.560
-0.300
1122.5 PETGAS 17.940 0.420 FBMKLCI-H4O 0.495 -0.295
LYSAGHT 4.400 0.380 PETRONM 13.640 -0.260
KUALA LUMPUR: The FBM KLCI rose 10.09 points or 0.6% KESM 20.000 0.380 HARTA 10.400 -0.260
820.0 to 1,792.79 yesterday, while trading volume across Bursa HSI-C1R 1.510 0.310 FBMKLCI-H4J 0.315 -0.245
Jan 2, 2008 Jan 3, 2018 Malaysia topped five billion shares on Malaysia’s 14th HENGYUAN-CC 1.450 0.300 TGUAN-LA 4.100 -0.200
general election cue. BURSA 10.400 0.280 GENP-WA 2.710 -0.140
900
Such sentiment was apparent as investors bought MYEG 2.460 0.230 UCHITEC 3.120 -0.130
SAB 4.480 0.230 KOTRA 1.680 -0.120
Malaysian government-linked stocks like Petronas Gas
600 WASEONG 1.310 0.220 LIIHEN 3.440 -0.120
Bhd and Sime Darby Bhd, according to fund managers. A50CHIN-C9 1.220 0.190 SLP 1.700 -0.120
300 Bloomberg quoted Areca Capital Sdn Bhd chief executive
officer Danny Wong Teck Meng as saying “investors are Top gainers and losers (ranked by percentage)
0
buying into the nation’s government-linked companies

 
Volume (’mil)
ahead of a national election” this year. UP CHANGE DOWN CHANGE
CLOSE (%) CLOSE (%)
Inter-Pacific Securities Sdn Bhd head of research Pong
FBM KLCI futures Teng Siew told theedgemarkets.com that Malaysian shares PCCS-WA 0.080 1,500.00 EWINT-CA 0.005 -85.71

CONTRACT SETTLEMENT CHANGE HIGH LOW

rose “due to the stimulus programme from central banks MYEG-C20 0.045 200.00 MAHSING-C12 0.065 -56.67
APFT-WA 0.015 200.00 XINGHE-WA 0.005 -50.00
JAN 18 1,799.50 5.50 1,807.50 1,795.50 around the world”. UEMS-C51 0.035 133.33 HSI-H2T 0.115 -50.00
FEB 18 1,798.00 4.00 1,806.00 1,796.00 Across Bursa yesterday, trading volume was 5.11 MYEG-C16 0.225 114.29 SAPNRGC49 0.005 -50.00
MAR 18 1,795.00 6.00 1,802.50 1,790.00
billion shares worth RM3.68 billion. Yesterday, the bourse ARMADA-C27 0.010 100.00 FBMKLCI-H4J 0.315 -43.75
recorded a trading volume of 3.69 billion shares worth SAPNRGC53 0.010 100.00 FBMKLCI-H4G 0.020 -42.86
FBM KLCI sensitivity* RM2.11 billion. LCTITAN-CE 0.020 100.00 FBMKLCI-H4O 0.495 -37.34

KLCI CHANGE CLOSE VOLUME Yesterday, Bursa shares rose 28 sen to RM10.40 to MYEG-C21 0.085 88.89 SNTORIA-WA 0.120 -36.84
POINTS (RM) (RM) ('000) MYEG-C24 0.155 82.35 NEXGRAM-WB 0.010 -33.33
MAYBANK 2.13 0.120 9.780 13945.3
become the seventh-largest gainer across the exchange. MYEG-C18 0.035 75.00 FBMKLCI-H4D 0.020 -33.33
SIME DARBY 2.12 0.190 2.410 37804.4 Across Asian markets, Japan’s Nikkei Share Average MYEG-C25 0.245 75.00 HSI-H2Q 0.010 -33.33
PETRONAS GAS 1.37 0.420 17.940 967.6 lost 0.8%, while South Korea’s Kospi rose 0.27% and Hong
PETRONAS CHEMICAL 1.32 0.100 7.950 7964.3 Kong’s Hang Seng Index gained 0.15%. Top gainers and losers - warrants (ranked by percentage)
TENAGA NASIONAL 0.75 0.080 15.300 10311.2 MSCI’s Index of Asia-Pacific shares outside Japan
AMMB HOLDINGS 0.55 0.110 4.560 6094.2 UP CHANGE DOWN CHANGE
RHB BANK 0.53 0.080 5.140 2474.2
rose 0.4%, having jumped 1.4% on Tuesday in its best CLOSE (%) CLOSE (%)
CIMB GROUP 0.46 0.030 6.530 24802.6 performance since last March. — by Chester Tay MYEG-C20 0.045 200.00 EWINT-CA 0.005 -85.71
AXIATA GROUP 0.45 0.030 5.420 6601.6
World equity indices APFT-WA 0.015 200.00 MAHSING-C12 0.065 -56.67
GENTING 0.38 0.060 9.370 3418.0 UEMS-C51 0.035 133.33 HSI-H2T 0.115 -50.00
NESTLE (M) 0.35 0.900 102.000 70.2 CLOSE CHANGE CLOSE CHANGE MYEG-C16 0.225 114.29 SAPNRGC49 0.005 -50.00
PETRONAS DAGANG 0.23 0.140 24.500 1228.6
DOW JONES 24,824.01 104.79 INDONESIA 6,251.48 -87.76 LCTITAN-CE 0.020 100.00 XINGHE-WA 0.005 -50.00
PRESS METAL -0.25 -0.040 5.270 7444.4
S&P 500 2,695.81 22.20 JAPAN 22,764.94 -19.04 SAPNRGC53 0.010 100.00 FBMKLCI-H4J 0.315 -43.75
IHH HEALTHCARE -0.27 -0.020 5.880 3222.8
NASDAQ 100 6,511.34 114.92 KOREA 2,486.35 6.70 ARMADA-C27 0.010 100.00 FBMKLCI-H4G 0.020 -42.86
MISC -0.51 -0.070 7.350 941.9
FTSE 100 7,648.10 -39.67 PHILIPPINES 8,724.13 165.71 MYEG-C21 0.085 88.89 FBMKLCI-H4O 0.495 -37.34
MAXIS -0.64 -0.050 5.950 4647.7
AUSTRALIA 6,070.38 9.10 SINGAPORE 3,464.28 33.98 MYEG-C24 0.155 82.35 SNTORIA-WA 0.120 -36.84
SUB-TOTAL 8.93
CHINA 3,369.11 20.78 TAIWAN 10,801.57 90.84 MYEG-C25 0.245 75.00 MALAKOF-C3 0.020 -33.33
OTHERS 1.16
HONG KONG 30,560.95 45.64 THAILAND 1,778.53 24.82 MYEG-C18 0.035 75.00 HSI-H2Q 0.010 -33.33
GRAND TOTAL 10.09
INDIA 33,799.38 -18.88 VIETNAM 1,005.67 9.90 BURSA-C13 0.060 71.43 FBMKLCI-H4D 0.020 -33.33
* How stock price changes affected the index on the previous trading day

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