Today s Highlights. Outside Malaysia. Company Update HSS Engineers (BUY, maintain) - Exciting potential
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- Victor Stevenson
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1 Jun-16 Oct-16 Feb-17 Jun June 2017 Today s Highlights Company Update HSS Engineers (BUY, maintain) - Exciting potential Company Update SP Setia (N/A) - Equity issuances to fund acquisition Outside Malaysia US stocks little changed as consumer staples, real estate drop Bursa Malaysia KLCI 52-wk range Mkt Cap (RMbn) 1, Vol (m shrs) 1, Value (RMm) 1, KLCI futures (spot) 1, KLCI futures (1-mth) 1, KLCI Index (12-mth) Jobless claims show tight US labor market even with increase Biggest banks clear their first hurdle in Fed's stress tests ECB said to spurn active role in overhaul of Euribor rate May vows EU citizens' rights in UK as leaders await full offer Taiwan holds rates as stronger currency extends room to wait Continuity and intuition guide new Philippine central bank chief Oil lingers below $43 after entering bear market on glut worries Other Markets Key Indicators C OM M OD ITIES C U R R EN C IES Lat est chg ( %) Lat est Y t d chg ( %) CPO (RM /Tonne) RM /US$ Spot 2, RM per 100 Yen 3.85 (0.5) 3-mth futures 2, RM /S$ Yen/US$ Brent Crude Oil (US$/brl) Eur/US$ 0.90 (5.6) Spot RM /AUD mth futures M A LA Y SIA IN T ER EST R A T ES Lat est Y t d chg ( b p s) Gold (US$/oz) OPR (%) Spot mth Klibor (%) mth futures M aybank BR (%) *as at 1 July 2016 Top 5 Gainers Price (RM) chg (RM) % chg AJI BAT AEONCR VITROX SAM Top 5 Losers Price (RM) chg (RM) % chg PETDAG PETRONM HENGYUAN DLADY EDGENTA Top 5 Value Traded Price (RM) chg (RM) Val (RMm) TENAGA unch CIMB 6.65 unch PBBANK unch MAYBANK SIME Key Equity Indices Close % chg Ytd chg (%) KLCI 1, Dow Jones 21, Nasdaq 6, FTSE100 7, East. Europe 2, Mexico 49, Shenzen B 1, Shanghai B 3, Hong Kong 25, Korea 2, Singapore 3, Indonesia 5, Philippines 7, Thailand 1, Vietnam India 31, Taiwan 10, Page 1 of 7
2 Outside Malaysia US stocks little changed as consumer staples, real estate drop US stocks drifted lower as consumer staples and real estate shares declined and US Treasury bonds strengthened. The S&P 500 slipped less than 0.1% to 2, The Dow Jones Industrial Average declined points (0.1%) to 21, Jobless claims show tight US labor market even with increase The slight gain in filings for US unemployment benefits last week is still consistent with a resilient job market. Initial jobless claims increased by 3k to 241k against forecast of 240k. Continuing claims rose by 8k to 1.94mil in week ended June 10. Four-week average of initial claims rose to 244,750. Biggest banks clear their first hurdle in Fed's stress tests Thirty-four of the largest banks operating in the US cleared a Federal Reserve stress test of their ability to withstand economic shocks, showing firms are getting the hang of the once-dreaded reviews -- a trend that may continue if the Trump administration dials them back. Every bank subject to the annual tests first phase exceeded minimum thresholds. ECB said to spurn active role in overhaul of Euribor rate The European Central Bank won t overhaul or substitute Euribor, insisting instead that the financial industry take the lead. Concerns over the reliability of Euribor, the benchmark interest rate for $180 trillion a year of intra-bank lending, have mounted as banks pull out of rate-setting panels in the wake of the UK s Libor-rigging scandal. May vows EU citizens' rights in UK as leaders await full offer Prime Minister Theresa May s proposal to safeguard residency rights of European Union citizens currently living in the UK met a tepid reception from EU leaders, who stressed that many issues remain unresolved. May told EU leaders that almost all 3 million EU citizens in the UK will be able to continue living there after Brexit, saying she wanted to offer them as much certainty as possible about their futures. Taiwan holds rates as stronger currency extends room to wait Taiwan kept its benchmark interest rate unchanged for a fourth-straight quarter as policy makers assess the impact of a strengthening currency and the robustness of economic expansion. Policy makers held the discount rate for banks at a six-year low of 1.375%, the central bank said in a statement. Continuity and intuition guide new Philippine central bank chief Expect policy continuity, but prepare for a new style and approach, said Nestor Espenilla, 58, who takes over on July 3. I respond to moments and situations, I trust my instincts, he said. He balances that with the right dose of pragmatism, he said, having honed his skills at the central bank since the debt crisis in the 1980s. Oil lingers below $43 after entering bear market on glut worries Oil closed below $43 a barrel for a second day as brimming supplies work against OPEC-led efforts to reduce a glut. Brent for August settlement climbed $0.40 to end the session at $45.22 a barrel. Source: Bloomberg (Maisarah Razali; ; maisarah.razali@affinhwang.com) Page 2 of 7
3 Market Summary Table 1: Off Market transactions Shares Price (RM) Vol (m) Val (RMm) Type BARAKAH D AEM D OCR D GBGAQRS D APPASIA D ASIAPLY D BAUTO D Source: Bloomberg Table 2: Shares Buyback/ Resale Company* Date Units Treasury Transaction BKAWAN 22-Jun-17 6,000 32,526,231 Shares Buy Back *Only FBM100 Component Stocks Table 3: ESOS Company* Date Units Transaction *Only FBM100 Component Stocks Table 4: Entitlements Company Entitlement Ex-Date Lodgement Payment SCC Bonus Issue 6-Jul Jul-17 - SCC Subdivision 6-Jul Jul-17 - Table 5: Bursa Malaysia Trade Statistics Participant (%) Bought (RMm) Sold (RMm) Net (RMm) Local Institution Local Retail Foreign Total Page 3 of 7
4 Fig 6: Shareholdings change Substantial shareholder Date Transaction Units Company EPF 19-Jun-17 Acquired 2,568,200 AIRPORT EPF 19-Jun-17 Disposed 1,412,900 ASTRO EPF 19-Jun-17 Acquired 2,527,400 AXIATA EPF 19-Jun-17 Disposed 1,248,300 AXIATA LTH 20-Jun-17 Disposed 10,500,000 BIMB EPF 15 to 16-Jun-17 Acquired 13,600,000 CIMB EPF 15 to 16-Jun-17 Disposed 3,447,200 CIMB LTH 20-Jun-17 Acquired 1,500,000 CMSB EPF 19-Jun-17 Acquired 2,035,300 DIALOG EPF 19-Jun-17 Acquired 2,219,200 DIGI EPF 19-Jun-17 Disposed 102,600 DIGI LTH 19-Jun-17 Acquired 263,400 FGV KOPERASI PERMODALAN FELDA 20-Jun-17 Acquired 500,000 FGV EPF 19-Jun-17 Acquired 22,600 GENP EPF 16 to 19-Jun-17 Disposed 58,100 GENP EPF 19-Jun-17 Acquired 60,000 HARTA EPF 19-Jun-17 Disposed 989,300 HLBANK EPF 19-Jun-17 Disposed 91,100 IOICORP ASB 20-Jun-17 Disposed 1,126,800 KLCC ASB 20-Jun-17 Acquired 100,000 LITRAK KWAP 19-Jun-17 Disposed 800,000 MALAKOF EPF 19-Jun-17 Acquired 3,701,400 MAYBANK EPF 19-Jun-17 Disposed 1,300,000 MAYBANK LTH 20-Jun-17 Acquired 1,000,000 MMCCORP EPF 19-Jun-17 Acquired 30,000 NESTLE EPF 19-Jun-17 Disposed 203,900 ORIENT EPF 19-Jun-17 Acquired 388,800 PBBANK EPF 19-Jun-17 Disposed 403,200 PBBANK EPF 19-Jun-17 Disposed 239,300 PPB EPF 19-Jun-17 Acquired 700,000 SENERGY EPF 19-Jun-17 Disposed 279,700 SENERGY KWAP 19-Jun-17 Acquired 1,000,000 SIME EPF 19-Jun-17 Acquired 5,592,300 SIME ASB 19-Jun-17 Acquired 5,000,000 SIME EPF 16-Jun-17 Disposed 556,300 SIME EPF 19-Jun-17 Disposed 123,500 SUNWAY EPF 15 to 16-Jun-17 Acquired 251,300 TAKAFUL EPF 14 to 16-Jun-17 Disposed 385,999 TAKAFUL EPF 19-Jun-17 Acquired 6,000,000 TENAGA ASB 20-Jun-17 Disposed 2,565,000 TENAGA KWAP 19-Jun-17 Acquired 357,200 TIMECOM EPF 19-Jun-17 Acquired 2,300,000 TM EPF 19-Jun-17 Disposed 18,100 TOPGLOV KWAP 16 to 19-Jun-17 Acquired 1,038,400 UMW EPF 19-Jun-17 Disposed 459,700 YINSON Page 4 of 7
5 Fig 7: Dividend Entitlement Stocks Particulars DPS (sen) Announce Ex-Date Lodge Payment AEONCR Final Dividend Apr Jun Jun Jul-17 IHH First and Final Dividend Mar Jun Jun Jul-17 DKSH Final Dividend Apr Jun Jun Jul-17 LEONFB Final Dividend Apr Jun Jun Jul-17 UCHITEC Final Dividend Apr Jun Jun Jul-17 TA Final Dividend Apr Jun Jun Jul-17 TAGB Final Dividend Apr Jun Jun Jul-17 PRG Final Dividend Apr Jun Jun Jul-17 UCHITEC Final Dividend Apr Jun Jun Jul-17 ADVPKG Final Dividend Apr Jun Jun Jul-17 HARISON Final Dividend Apr Jun Jun Jul-17 MANULFE First and Final Dividend Apr Jun Jun Jul-17 MASTEEL Final Dividend Apr Jun Jun Jul-17 ORIENT Final Dividend Apr Jun Jun Jul-17 WANGZNG Final Dividend Apr Jun Jun Jul-17 SOP First and Final Dividend Apr Jun Jun Jul-17 GOPENG Final Dividend May Jun Jun Jul-17 EITA First Interim Dividend May Jun Jun Jul-17 FREIGHT First Interim Dividend May Jun Jun Jul-17 IJM Second Interim Dividend May Jun Jun Jul-17 IJMPLNT Interim Dividend May Jun Jun Jul-17 CHUAN Final Dividend May Jun Jun Jul-17 KPJ Interim Dividend May Jun Jun Jul-17 GKENT Final Dividend May Jun Jun Jul-17 IQGROUP Interim Dividend May Jun Jun Jul-17 DEGEM Final Dividend Jun Jun Jun Jul-17 TDM Final Dividend Jun Jun-17 3-Jul Jul-17 POHUAT First Interim Dividend Mar Jun-17 4-Jul-17 2-Aug-17 ASTRO First Interim Dividend Jun Jun-17 4-Jul Jul-17 KIMHIN Final Dividend Apr-17 3-Jul-17 5-Jul Jul-17 ALCOM Final Dividend May-17 3-Jul-17 5-Jul Jul-17 TOPGLOV First Interim Dividend Jun-17 3-Jul-17 5-Jul Jul-17 KGB Final Dividend Apr-17 4-Jul-17 6-Jul Jul-17 MBG First and Final Dividend May-17 5-Jul-17 7-Jul-17 2-Aug-17 SUPERMX Interim Dividend May-17 5-Jul-17 7-Jul Jul-17 SUPERLN Interim Dividend Jun-17 5-Jul-17 7-Jul Jul-17 SCIENTX Interim Dividend Jun-17 5-Jul-17 7-Jul Jul-17 KIMLUN Final Dividend Jun-17 6-Jul Jul-17 8-Aug-17 CANONE First and Final Dividend Apr-17 7-Jul Jul Jul-17 LBS Interim Dividend Apr-17 7-Jul Jul Jul-17 LIIHEN Final Dividend Apr-17 7-Jul Jul Jul-17 YOCB Interim Dividend May-17 7-Jul Jul Jul-17 BAUTO Interim Dividend Jun-17 7-Jul Jul Jul-17 SCGM Interim Dividend Jun-17 7-Jul Jul Jul-17 SAM Special Dividend Jun-17 9-Jul Jul Jul-17 VS Interim Dividend Jun Jul Jul Aug-17 BJFOOD Interim Dividend Jun Jul Jul Jul-17 VS Interim Dividend Jun Jul Jul Jul-17 Page 5 of 7
6 Stocks Particulars DPS (sen) Announce Ex-Date Lodge Payment IBHD Final Dividend Jun Jul Jul Jul-17 KEN First and Final Dividend Apr Jul Jul Jul-17 KEN First and Final Dividend Apr Jul Jul Jul-17 FARLIM First and Final Dividend Apr Jul Jul Jul-17 BIPORT First Interim Dividend May Jul Jul Jul-17 D&O Interim Dividend May Jul Jul Aug-17 KLK Interim Dividend May Jul Jul Jul-17 JAYCORP First Interim Dividend Jun Jul Jul Jul-17 MITRA First and Final Dividend Apr Jul Jul-17 8-Aug-17 EWEIN First and Final Dividend May Jul Jul Aug-17 BKAWAN Interim Dividend May Jul Jul Aug-17 YINSON Final Dividend May Jul Jul Aug-17 BJTOTO Interim Dividend Jun Jul Jul-17 9-Aug-17 KPS Final Dividend Mar Jul Jul Aug-17 CHOOBEE Final Dividend May Jul Jul Aug-17 SAM First Interim Dividend Jun Jul Jul Aug-17 UMCCA Special Dividend Jun Jul Jul Aug-17 UMCCA Second Interim Dividend Jun Jul Jul Aug-17 TGUAN Final Dividend Apr Jul Jul Aug-17 HIL First and Final Dividend Apr Jul Jul Aug-17 RUBEREX First Interim Dividend May Jul Jul Aug-17 ENGKAH Final Dividend Apr Jul Jul Aug-17 DKLS First and Final Dividend Apr Jul Jul Aug-17 REX Interim Dividend May Jul Jul Aug-17 EVERGRN Final Dividend Apr Jul-17 2-Aug Aug-17 KMLOONG Final Dividend Mar-17 9-Aug Aug Aug-17 CRESNDO Final Dividend Mar-17 9-Aug Aug Aug-17 LBS Final Dividend Apr Aug Aug Aug-17 IKHMAS Final Dividend Apr Aug Aug Aug-17 ELKDESA Final Dividend Jun Aug Aug Sep-17 MSNIAGA First Interim Dividend Jun Aug Aug Aug-17 PANSAR First and Final Dividend Jun Aug Aug-17 6-Sep-17 PTRANS Second Interim Dividend Jun Aug Aug Sep-17 MAHSING First and Final Dividend Apr Aug-17 4-Sep Sep-17 FAVCO First and Final Dividend Apr-17 5-Sep-17 7-Sep Sep-17 MUHIBAH First and Final Dividend Apr-17 5-Sep-17 7-Sep Sep-17 ATTA Final Dividend Jun Sep Sep Oct-17 WEIDA First and Final Dividend Jun-17 5-Oct-17 9-Oct Sep-17 Page 6 of 7
7 Equity Rating Structure and Definitions BUY Total return is expected to exceed +10% over a 12-month period HOLD Total return is expected to be between -5% and +10% over a 12-month period SELL Total return is expected to be below -5% over a 12-month period NOT RATED Affin Hwang Investment Bank Berhad does not provide research coverage or rating for this company. Report is intended as information only and not mendation The total expected return is defined as the percentage upside/downside to our target price plus the net dividend yield over the next 12 months. OVERWEIGHT Industry, as defined by the analyst s coverage universe, is expected to outperform the KLCI benchmark over the next 12 months NEUTRAL Industry, as defined by the analyst s coverage universe, is expected to perform inline with the KLCI benchmark over the next 12 months UNDERWEIGHT Industry, as defined by the analyst s coverage universe is expected to under-perform the KLCI benchmark over the next 12 months This report is intended for information purposes only and has been prepared by Affin Hwang Investment Bank Berhad (14389-U) ( the Company ) based on sources believed to be relia by the Company, and as such the Company does not give any guarantee, representation or warranty (express or implied) as to the adequacy, accuracy, reliability or completeness of th Facts, information, views and/or opinion presented in this report have not been reviewed by, may not reflect information known to, and may present a differing view expressed by other personnel. Reports issued by the Company, are prepared in accordance with the Company s policies for managing conflicts of interest arising as a result of publication and distribution o Company, its associates and/or any person related to it be liable in any manner whatsoever for any consequences (including but are not limited to any direct, indirect or consequential lo reliance on the information and/or opinion provided or rendered in this report. Any opinions or estimates in this report are that of the Company, as of this date and subject to change with construed as an offer to sell or a solicitation of an offer to buy any securities. The Company and/or any of its directors and/or employees may have an interest in the securities mentione take proprietary positions that are inconsistent with the recommendations or views in this report. Comments and recommendations stated here rely on the individual opinions of the ones providing these comments and recommendations. These opinions may not fit to your financial s evaluation is essential. Investors are advised to independently evaluate particular investments and strategies and to seek independent financial, legal and other advice on the informatio participating in any of the securities or investment strategies or transactions discussed in this report. Third-party data providers make no warranties or representations of any kind relating to the accuracy, completeness, or timeliness of the data they provide and shall not have liability fo The Company s research, or any portion thereof may not be reprinted, sold or redistributed without the consent of the Company. The Company, is a participant of the Capital Market Development Fund-Bursa Research Scheme, and will receive compensation for the participation. This report is printed and published by: Affin Hwang Investment Bank Berhad (14389-U) A Participating Organisation of Bursa Malaysia Securities Berhad 22nd Floor, Menara Boustead, 69, Jalan Raja Chulan, Kuala Lumpur, Malaysia. T : F : research@affinhwang.com Page 7 of 7
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More informationBanking. OPR cut effect yet to be seen. Overweight (maintain) Sector Update
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More informationSunway Construction. BUY (maintain) Upside 28% 18 April Price Target: RM1.98 Previous Target: RM1.74. Company Update.
More to come Sunway Construction (Suncon) was awarded the RM1.2bn Klang Valley MRT Line 2 (MRT2) project on 29 March 2016. This lifts its order book to RM4.8bn, equivalent to 2.5x FY15 revenue, improving
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A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 S E C T O R R E P O R T Thursday, March 20, 2014 FBM KLCI: 1,817.44 Sector:
More informationSunway Construction SCGB MK Sector: Construction
Building jobs replenishment; upgrading to Buy We upgrade Sunway Construction (Suncon) to BUY from Hold with an unchanged 12M TP of RM2.45, based on a 10% discount to RNAV. We believe Suncon is an apolitical
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More informationCompany Note Company Update. Sime Darby Berhad. Meet The Enlarged Sime Darby. Target Price Raised to RM12.40.
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More informationMarket Access. Results Review (1Q16) M&A Securities. Dialog Group Berhad. Well On Track. Results Review HOLD (TP: RM1.60)
M&A Securities Results Review (1Q16) PP14767/09/2012(030761) Dialog Group Berhad HOLD (TP: RM1.60) Wednesday, November 18, 2015 Well On Track Results Review Actual vs. expectations. Dialog Group Berhad
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Focused on lifting of RSPO suspension IOI is focused on taking corrective actions for early lifting of the RSPO membership suspension. We believe a prolonged suspension will have significant impact on
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Manulife Investment Growth high 8.5 Growth / Equity 15 To provide Unit Holders with medium- to long-term capital growth through investments in a diversified portfolio of equities. 10 5 5 The is designed
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By the Kenanga Research Team l research@kenanga.com.my KLCI BURSA 23-Jul RSI (13D) SMAVG (21D) KLCI 1,871.8 41.1 1,883.4 FTSE EMAS 13,073.9 49.8 13,101.0 FTSE Smallcap 18,834.7 84.8 18,352.8 FTSE MESDAQ
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By the Kenanga Research Team l research@kenanga.com.my KLCI BURSA 8-Jul RSI (13D) SMAVG (21D) KLCI 1,892.7 60.7 1,883.2 FTSE EMAS 13,163.7 68.3 13,047.7 FTSE Smallcap 18,364.8 86.0 17,924.8 FTSE MESDAQ
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More informationMarket Access. Company Update. M&A Securities. Public Bank Berhad. Wednesday, April 27, BUY (Target Price: RM21.38) Proves to be Bellwether
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M&A Securities Results Review 1Q15 PP14767/09/2012(030761) Axiata Group Berhad Wednesday, May 20, 2015 HOLD (TP:RM7.40) Slow in Recovery Results Review Actual vs. expectations. Axiata Group Bhd (Axiata)
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