Today s Highlights. Outside Malaysia. Results Note Genting Plant (SELL, maintain) - Below expectation, maintain SELL

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1 Today s Highlights Results Note Genting Plant (SELL, maintain) - Below expectation, maintain SELL Results Note Malakoff (HOLD, downgrade) - Dim showing Bursa M alaysia KLCI 52-wk range Mkt Cap (RMbn) 1, Vol (m shrs) 1, Value (RMm) 1, KLCI futures (spot) 1, KLCI futures (1-mth) 1, Results Note Lafarge Malaysia (HOLD, maintain) - Integration cost and pricing pressure KLCI Index ( 12 - mt h) 1900 Results Note UMW-OG (SELL, maintain) - Rigs utilisation continues to disappoint Outside Malaysia US stocks decline amid focus on interest rates, looming data Apr 15 Jul 15 Oct 15 Jan 16 Apr 16 Fed s Harker sees two to three rate hikes in 2016 as prices gain Euro area growth seen slowing as outlook clouds amid weak orders French services lead pickup in private-sector growth, PMIs show Euro area confronts Greek debt spiral with IMF demanding action Brexit is one of the biggest risks seen by World Bank, Kim says Japan April trade surplus 823.5bn, beats estimates Oil trades near US$48 as producers work to resume output in Canada Top 5 Gainers Price (RM ) chg (RM ) % chg UTDPLT AJI BAT TAHPS PETDAG Top 5 Losers Price (RM ) chg (RM ) % chg FLBHD 2.07 (0.27) (11.54) CARLSBG (0.20) (1.52) AHEALTH 3.88 (0.17) (4.20) HEIM (0.16) (1.07) CANONE 3.81 (0.12) (3.05) Top 5 Value Traded Price (RM ) chg (RM ) V al (RM m) TENAGA MAYBANK PBBANK AIRASIA 2.31 (0.02) PCHEM Key Equity Indices Close % chg Ytd chg (%) KLCI (3.8) Other Markets Key Indicators COMMODITIES CURRENCIES Latest chg (%) Latest Ytd chg (%) CPO (RM/Tonne) RM/US$ Spot (Jan) 2,519.0 (1.5) RM per 100 Yen 3.70 (3.6) 3-mth futures (Mar) 2, RM/S$ Yen/US$ Brent Crude Oil (US$/brl) Eur/US$ 0.89 (3.2) Spot 48.1 (0.7) RM/AUD mth futures 48.6 (0.6) MALAYSIA INTEREST RATES Latest Ytd chg (bps) Gold (US$/oz) OPR (%) Spot (0.1) 3-mth Klibor (%) 3.67 (17.0) 1-mth futures (0.1) Maybank BR (%) *as at 31 Dec 2014 Dow Jones (0.0) 0.4 Nasdaq (0.1) (4.8) FTSE (0.3) (1.4) East. Europe (0.6) (8.6) M exico Shenzen B (22.3) Shanghai B (20.2) Hong Kong (0.2) (9.4) Korea (0.7) Singapore (4.1) Indonesia Philippines Thailand (0.3) 7.6 Vietnam (0.6) 6.2 India (0.3) (3.1) Taiwan (2.5) Page 1 of 8

2 Outside Malaysia US stocks decline amid focus on interest rates, looming data US stocks slipped amid a late-day pullback, as investors awaited further direction on the health of the economy and prospects for higher interest rates. The S&P 500 fell 0.2% to 2, The Dow Jones Industrial Average lost 8.01 points (0.1%) to 17, Fed s Harker sees two to three rate hikes in 2016 as prices gain Federal Reserve Bank of Philadelphia President Patrick Harker said that he could see two to three rate hikes in 2016 and that prices will return towards the central bank s inflation target over the medium term. Harker emphasized that the US has continued to grow in spite of global headwinds and he called the labor market extraordinarily dynamic. Euro area growth seen slowing as outlook clouds amid weak orders Growth in the euro area s private sector unexpectedly slowed in May, signaling that the region won t maintain the strong pace of expansion recorded at the start of the year. A Purchasing Managers Index slipped to 52.9 from 53 in April, Markit Economics said. Economists surveyed by Bloomberg predicted an increase to French services lead pickup in private-sector growth, PMIs show Growth in France s private-sector economy accelerated more than analysts anticipated in May, despite a continued contraction in manufacturing, as services expanded at the fastest rate in seven months. A PMI for both industries rose to 51.1 from 50.2 in April, Markit Economics said. That compares with a median forecast of 50.4 in a Bloomberg survey. Euro area confronts Greek debt spiral with IMF demanding action Five years after handing Greece the biggest sovereign-debt write-off in history, European policy makers have come full circle for a real discussion on debt relief. Euro-area finance ministers convene in Brussels, primarily to discuss the disbursement of a proposed 11bn (US$12.3bn) in aid for Greece, but also on how to ease its 321bn of debt through lengthening loan maturities, lowering interest rates and postponing payments. Brexit is one of the biggest risks seen by World Bank, Kim says Global uncertainty caused by a possible UK exit from the European Union is a threat to developing nations that are already reeling from the commodity slump, World Bank President Jim Yong Kim said. We focus mostly on low- and middle-income countries, but we do want to emphasize the point that the stability of the British economy is important for the stability of the global economy, he said. Japan April trade surplus 823.5bn, beats estimates Japan s exports fell for a seventh consecutive month in April as the yen strengthened, underscoring the growing challenges to Prime Minister Shinzo Abe s efforts to revive economic growth. Overseas shipments declined 10.1% yoy in April, the Ministry of Finance said. The median estimate of economists surveyed by Bloomberg was for a 9.9% drop. Imports fell 23.3%, leaving a trade surplus of 823.5bn (US$$7.5bn). Oil trades near US$48 as producers work to resume output in Canada Oil traded near $48 a barrel as producers in Canada worked to resume operations after wildfires and Iran continued to increase exports. Brent for July settlement slipped US$0.37 cents (0.8%) to US$48.35 a barrel. Source: Bloomberg (Lim Yee Ping; ; yeeping.lim@affinhwang.com) Page 2 of 8

3 Market Summary Table 1: Off Market transactions Shares Price (RM) Vol (m) Val (RMm) Type* TDEX D YOCB D Source: Bloomberg Table 2: Shares Buyback/ Resale Company* Date Units Treasury Transaction HAPSENG 23-May 972,100 61,899,400 Share Resale/ Cancellation PARKSON 23-May 260,000 40,418,980 Share Buyback YINSON 23-May 6,900 1,714,000 Share Buyback * Only FBM100 Component Stocks Source : Bursa Malaysia Table 3: ESOS Company* Date Units Transaction * Only FBM100 Component Stocks Source : Bursa Malaysia Table 4: Entitlements Company Entitlement Ex-Date Lodgement Payment Source : Bursa Malaysia Page 3 of 8

4 Fig 5: Shareholding change Substantial Shareholder Date Transaction Units Company EPF 18-May-16 Acquired 377,900 AFG EPF 18-May-16 Acquired 340,300 AIRPORT EPF 17-May-16 Disposed 200,000 AIRPORT EPF 17-May-16 Disposed 500,000 AMBANK EPF 18-May-16 Acquired 21,800 BJAUTO EPF 11 to 13-May-16 Acquired 20,464,800 CIMB EPF 13-May-16 Disposed 7,500,000 CIMB EPF 18-May-16 Acquired 631,500 CMSB EPF 18-May-16 Acquired 1,567,500 DIALOG EPF 18-May-16 Acquired 683,000 DIGI EPF 18-May-16 Disposed 144,200 ECOWLD EPF 18-May-16 Acquired 385,000 GENP EPF 17-May-16 Disposed 110,000 HARTA EPF 18-May-16 Disposed 586,700 HLBANK Lembaga Tabung Haji 19 to 20-May-16 Acquired 53,500 HSPLANT EPF 18-May-16 Acquired 1,526,400 IGBREIT EPF 13 to 18-May-16 Disposed 19,226,200 IHH EPF 18-May-16 Acquired 858,000 IJM EPF 18-May-16 Disposed 764,600 IJM EPF 18-May-16 Disposed 3,000,000 IOICORP Amanah Raya Trustees 16 to 18-May-16 Disposed 1,298,900 KLCC EPF 18-May-16 Disposed 500,000 KLK EPF 18-May-16 Acquired 10,000 MAHSING Kumpulan Wang Persaraan 12-May-16 Acquired 220,500 MALAKOF EPF 17-May-16 Disposed 1,000,000 MALAKOF EPF 18-May-16 Acquired 1,680,500 MAXIS EPF 18-May-16 Acquired 3,532,300 MAYBANK EPF 13-May-16 Disposed 5,400,000 MAYBANK EPF 13 to 16-May-16 Acquired 1,376,400 MISC EPF 18-May-16 Acquired 600,000 PAVREIT EPF 18-May-16 Acquired 3,148,100 PBBANK EPF 18-May-16 Disposed 1,773,000 PBBANK KWAP 10-May-16 Acquired 374,000 PETGAS KWAP 11 to 12-May-16 Acquired 425,000 PETGAS EPF 17-May-16 Disposed 128,000 PETGAS EPF 18-May-16 Disposed 456,700 PPB EPF 18-May-16 Acquired 151,800 SPSETIA EPF 16 to 17-May-16 Acquired 431,000 SUNREIT EPF 18-May-16 Acquired 38,500 TAKAFUL EPF 18-May-16 Acquired 356,500 TIME EPF 16 to 18-May-16 Acquired 6,000,000 TM EPF 18-May-16 Acquired 854,100 TOPGLOV EPF 18-May-16 Acquired 1,221,400 UOADEV EPF 18-May-16 Acquired 120,000 WCT Lembaga Tabung Haji 20-May-16 Acquired 500,000 WCT EPF 18-May-16 Acquired 500,000 YINSON EPF 18-May-16 Acquired 141,000 YTL Source: Bursa Malaysia Page 4 of 8

5 Fig 6: Dividend Entitlement Stocks Particulars DPS (sen) Announce Ex-Date Lodge Payment DIGI First Interim Dividend Apr May May Jun-16 GASMSIA Final Dividend Apr May May Jun-16 MASTER Interim Dividend May May May Jun-16 MSM Final Dividend Apr May May Jun-16 TSH First and Final Dividend Apr May May Jun-16 AIRASIA First and Final Dividend Mar May May Jun-16 ASIAPLY Final Dividend Apr May May Jun-16 DNEX Interim Dividend May May May Jun-16 PICORP Final Dividend Apr May May Jun-16 ADVPKG Final Dividend Apr May May Jun-16 ALLIANZ First and Final Dividend Apr May May Jun-16 ALLIANZ Preference Share First and Final Dividend Apr May May Jul-16 CCK First and Final Dividend Apr May May Jun-16 DUFU Final Dividend Apr May May Jun-16 IFCAMSC First and Final Dividend Apr May May Jun-16 MANULFE First and Final Dividend Apr May May Jun-16 MAXIS Interim Dividend Apr May May Jun-16 MJPERAK First Interim Dividend May May May Jun-16 SALCON First and Final Dividend Apr May May Jun-16 SIGGAS First and Final Dividend Apr May May Jun-16 TRC First and Final Dividend Apr May May Jun-16 UEMS First and Final Dividend Apr May May Jun-16 PARAMON Final Dividend Apr May-16 1-Jun Jun-16 ECS Final Dividend Feb May-16 2-Jun Jun-16 LUXCHEM Final Dividend Mar May-16 2-Jun Jun-16 TOMYPAK Interim Dividend May May-16 2-Jun Jun-16 AMWAY First Interim Dividend May-16 1-Jun-16 3-Jun Jun-16 APEX Final Dividend Feb-16 1-Jun-16 3-Jun Jun-16 CENTURY Interim Dividend May-16 1-Jun-16 3-Jun-16 5-Jul-16 CYL Second Interim Dividend Mar-16 1-Jun-16 3-Jun Jun-16 FFHB Final Dividend Apr-16 1-Jun-16 3-Jun Jun-16 KOSSAN Final Dividend Mar-16 1-Jun-16 3-Jun Jun-16 MEDIA Final Dividend Mar-16 1-Jun-16 3-Jun Jun-16 PADINI Special Dividend May-16 1-Jun-16 3-Jun Jun-16 PADINI Interim Dividend May-16 1-Jun-16 3-Jun Jun-16 PHARMA Interim Dividend May-16 1-Jun-16 3-Jun-16 1-Jul-16 TAANN First Interim Dividend May-16 1-Jun-16 3-Jun Jun-16 TEXCYCL Interim Dividend May-16 1-Jun-16 3-Jun Jun-16 TUNEPRO Final Dividend May-16 1-Jun-16 3-Jun Jun-16 APM Final Dividend Apr-16 2-Jun-16 6-Jun Jun-16 SHANG Final Dividend Feb-16 2-Jun-16 4-Jun Jun-16 TECFAST Final Dividend Apr-16 2-Jun-16 6-Jun Jun-16 TURBO Final Dividend Apr-16 2-Jun-16 6-Jun Jun-16 HARTA Interim Dividend May-16 3-Jun-16 7-Jun Jun-16 BPLANT First Interim Dividend May-16 6-Jun-16 8-Jun Jun-16 Source: Bursa Malaysia Page 5 of 8

6 Stocks Particulars DPS (sen) Announce Ex-Date Lodge Payment CCM Final Dividend Feb-16 6-Jun-16 8-Jun Jun-16 SIGN Special Dividend May-16 6-Jun-16 8-Jun-16 4-Jul-16 FAREAST Final Dividend Apr-16 7-Jun-16 9-Jun Jun-16 HSL Final Dividend Apr-16 7-Jun-16 9-Jun Jun-16 KUB Final Dividend Apr-16 7-Jun-16 9-Jun Jun-16 MMODE First and Final Dividend Apr-16 7-Jun-16 9-Jun Jun-16 TIENWAH Final Dividend Feb-16 7-Jun-16 9-Jun Jun-16 APEX Final Dividend Apr-16 8-Jun Jun Jun-16 BPPLAS First Interim Dividend May-16 8-Jun Jun Jun-16 HAPSENG First Interim Dividend May-16 8-Jun Jun Jun-16 INARI Interim Dividend May-16 8-Jun Jun Jun-16 LYSAGHT Final Dividend Apr-16 8-Jun Jun-16 1-Jul-16 PETRONM Final Dividend Apr-16 8-Jun Jun Jun-16 KEN First and Final Dividend Mar-16 9-Jun Jun Jun-16 KSENG Final Dividend Apr-16 9-Jun Jun Jul-16 DIALOG Interim Dividend May Jun Jun Jun-16 JOBST Final Dividend Apr Jun Jun Jun-16 LIIHEN First Interim Dividend May Jun Jun Jun-16 PTARAS Interim Dividend May Jun Jun Jul-16 TONGHER Final Dividend Apr Jun Jun Jun-16 EATECH Final Dividend May Jun Jun Jun-16 KSENG First and Final Dividend Apr Jun Jun-16 1-Jul-16 NHFATT Final Dividend Apr Jun Jun-16 1-Jul-16 OCB First and Final Dividend Apr Jun Jun Jul-16 ORIENT Special Dividend Apr Jun Jun Jul-16 ORIENT Final Dividend Apr Jun Jun Jun-16 SENDAI Final Dividend Apr Jun Jun-16 1-Jul-16 AEON First and Final Dividend Apr Jun Jun Jun-16 ASTRO Final Dividend Apr Jun Jun Jun-16 MATRIX Interim Dividend May Jun Jun Jun-16 PESONA Final Dividend Apr Jun Jun Jun-16 PRTASCO Final Dividend Mar Jun Jun-16 4-Jul-16 SMISCOR First and Final Dividend Apr Jun Jun-16 4-Jul-16 FGV Final Dividend Apr Jun Jun Jun-16 GTRONIC Final Dividend Apr Jun Jun-16 5-Jul-16 GTRONIC Special Dividend Apr Jun Jun Jul-16 KIANJOO First and Final Dividend Mar Jun Jun-16 7-Jul-16 MMCCORP Final Dividend Apr Jun Jun-16 1-Jul-16 KIMHIN Final Dividend Apr Jun Jun Jul-16 CAREPLS First and Final Dividend Apr Jun Jun Jul-16 MFCB Final Dividend Apr Jun Jun Jul-16 WTHORSE Final Dividend Apr Jun Jun Jul-16 LEONFB Final Dividend Apr Jun Jun Jul-16 SJC Final Dividend Apr Jun Jun Jul-16 DKSH Final Dividend Apr Jun Jun Jul-16 AEONCR Final Dividend Apr Jun Jun Jul-16 ACOSTEC First and Final Dividend Apr Jun Jun Jul-16 CSCSTEL Final Dividend Feb Jun Jun Jul-16 GENM Final Dividend Apr Jun Jun Jul-16 GENP Final Dividend Apr Jun Jun Jul-16 GENTING Final Dividend Apr Jun Jun Jun-16 Source: Bursa Malaysia Page 6 of 8

7 Stocks Particulars DPS (sen) Announce Ex-Date Lodge Payment GRANFLO First and Final Dividend Apr Jun Jun Jul-16 HARISON Final Dividend Apr Jun Jun Jul-16 IHH First and Final Dividend Mar Jun Jun Jul-16 KPJ Interim Dividend May Jun Jun Jul-16 LAFMSIA First Interim Dividend May Jun Jun Jul-16 METROD Final Dividend Feb Jun Jun Jul-16 PRG Final Dividend Apr Jun Jun Jul-16 RGB Final Dividend Apr Jun Jun Jul-16 TA Final Dividend Apr Jun Jun Jul-16 TAGB Final Dividend Apr Jun Jun Jul-16 UCHITEC Final Dividend Apr Jun Jun Jul-16 VITROX Final Dividend Apr Jun Jun Jul-16 VITROX Special Dividend Apr Jun Jun Jul-16 WANGZNG First and Final Dividend Apr Jun Jun Jul-16 YSPSAH Final Dividend Apr Jun Jun Jul-16 BLDPLNT First and Final Dividend Apr Jun-16 1-Jul Jul-16 JOHOTIN Final Dividend Apr Jun-16 1-Jul Jul-16 RUBEREX First Interim Dividend May Jun-16 1-Jul Jul-16 SCABLE Final Dividend Mar Jun-16 1-Jul Jul-16 MINTYE First and Final Dividend May-16 4-Jul-16 8-Jul Jul-16 CANONE First and Final Dividend Apr-16 5-Jul Jul Jul-16 TEOSENG Final Dividend Apr-16 5-Jul Jul Aug-16 LIIHEN Final Dividend Apr-16 8-Jul Jul Aug-16 FARLIM First and Final Dividend Apr Jul Jul Aug-16 KGB Final Dividend Apr Jul Jul Jul-16 KGB Final Dividend Apr Jul Jul-16 9-Aug-16 IPMUDA First and Final Dividend Apr Jul Jul Aug-16 UPA First and Final Dividend Apr Jul Jul-16 2-Aug-16 KLK Interim Dividend May Jul Jul Aug-16 KIMLUN Final Dividend Apr Jul Jul Aug-16 MITRA First and Final Dividend Apr Jul Jul Aug-16 BKAWAN Interim Dividend May Jul Jul Aug-16 KPS Final Dividend Mar Jul Jul Aug-16 ASB First and Final Dividend Apr Jul Jul Aug-16 ENGKAH Final Dividend Apr Jul Jul Aug-16 PRESTAR Final Dividend Apr Jul Jul Aug-16 TGUAN Final Dividend Apr Jul Jul Aug-16 ARMADA Final Dividend Apr Jul-16 1-Aug Aug-16 FAVCO First and Final Dividend Apr Jul-16 1-Aug Aug-16 MUHIBAH First and Final Dividend Apr Jul-16 1-Aug-16 9-Sep-16 YINSON Final Dividend May-16 2-Aug-16 4-Aug Aug-16 CRESNDO Final Dividend Mar Aug Aug-16 5-Sep-16 KMLOONG Final Dividend Mar Aug Aug-16 9-Sep-16 IKHMAS Final Dividend Apr Aug Aug Sep-16 LBS First and Final Dividend Apr Aug Aug-16 5-Sep-16 FITTERS First and Final Dividend Apr Aug Aug-16 9-Sep-16 MAHSING First and Final Dividend Apr Aug-16 2-Sep Sep-16 Source: Bursa Malaysia Page 7 of 8

8 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 as a recommendation 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) (formerly known as HwangDBS Investment Bank Berhad) ( the Company ) based on sources believed to be reliable. However, such sources have not been independently verified 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 the information and/or opinion provided or rendered in this report. 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 business units within the Company, including investment banking 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 of investment research reports. Under no circumstances shall the 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 losses, loss of profit and damages) arising from the use of or 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 without prior notice. Under no circumstances shall this report be 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 mentioned therein. The Company may also make investment decisions or 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 status, risk and return preferences and hence an independent evaluation is essential. Investors are advised to independently evaluate particular investments and strategies and to seek independent financial, legal and other advice on the information and/or opinion contained in this report before investing or 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 for any damages of any kind relating to such data. 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) (formerly known as HwangDBS Investment Bank Berhad) A Participating Organisation of Bursa Malaysia Securities Bhd Chulan Tower Branch, 3rd Floor, Chulan Tower, No 3, Jalan Conlay, Kuala Lumpur. research@affinhwang.com Tel : Fax : Page 8 of 8