Today s Highlights. Outside Malaysia. Company Note Superlon (Not Rated) - Insulated growth
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- Magnus Robinson
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1 Today s Highlights Company Note Superlon (Not Rated) - Insulated growth Outside Malaysia Sales of new US homes rise to second-fastest pace since 2008 Consumer sentiment in US at 12-year high after Trump win French jobless claims decline for third month in November UK current-account deficit widens; GDP growth revised up B ursa M alaysia KLCI 52-wk range M kt Cap (RM bn) 1, Vol (m shrs) Value (RMm) 1, KLCI futures (spot) 1, KLCI futures (1-mth) 1, KLC I Ind ex ( 12 - mt h) President Xi open to growth in China falling below 6.5% Brazil s public accounts worsen in November as slump drags on Dec-15 Apr-16 Aug-16 Dec-16 T o p 4 Gainers Price ( R M ) chg ( RM ) % chg DLADY WARISAN PANAM Y AEONCR PHARM A T o p 5 Lo sers Price ( R M ) chg ( RM ) % chg BAT HEIM M PI HLFG KLK T o p 5 V alue Traded Price ( R M ) chg ( RM ) V al ( R M m) TENAGA PBBANK unch PCHEM M AYBANK KLK Key Equit y Indices C lo se % chg Y t d chg ( %) KLCI 1, Other Markets Key Indicators COMMODITIES CURRENCIES Latest chg (%) Latest Ytd chg (%) CPO (RM/Tonne) RM/US$ 4.47 (4.0) Spot (Jan) 3, RM per 100 Yen 3.82 (6.4) 3-mth futures (Mar) 3,060.0 (0.5) RM/S$ 3.09 (1.7) Yen/US$ Brent Crude Oil (US$/brl) Eur/US$ Spot RM/AUD 3.23 (2.6) 1-mth futures MALAYSIA INTEREST RATES Latest Ytd chg (bps) Gold (US$/oz) OPR (%) 3.00 (25.0) Spot mth Klibor (%) 3.41 (43.0) 1-mth futures Maybank BR (%) *as at 1 July 2016 Dow Jones 19, Nasdaq 5, FTSE100 7, East. Europe 2, M exico 45, Shenzen B 1, Shanghai B 3, Hong Kong 21, Korea 2, Singapore 2, Indonesia 5, Philippines 6, Thailand 1, Vietnam India 26, Taiwan 9, Page 1 of 6
2 Outside Malaysia **US stock market closed due to Christmas Day** Sales of new US homes rise to second-fastest pace since 2008 Purchases of new US homes increased in November to the second-fastest pace in almost nine years as the beginning of a spike in mortgage rates persuaded buyers to quickly sign contracts. Sales rose 5.2% to a fourmonth high of a 592,000 annualized pace, Commerce Department data showed. The median forecast in a Bloomberg survey was for a 2.1% gain to 575,000. Consumer sentiment in US at 12-year high after Trump win Consumer confidence jumped to the highest level since 2004, extending a surge in Americans optimism for their finances and the US economy following Donald Trump s election victory. The University of Michigan said that its final index of sentiment rose to 98.2 from 93.8 in November. The median projection in a Bloomberg survey called for 98, equal to the preliminary reading released earlier this month. French jobless claims decline for third month in November France s jobless claims declined for the third month in November, the longest streak since early 2008, in a recovery that comes too late to rescue the presidency of Francois Hollande. The number of people actively looking for work fell 0.9%, or 31,800, last month to 3.45m, the Labor Ministry said. That compared with an estimate of 3.48m, according to a Bloomberg survey of economists. UK current-account deficit widens; GDP growth revised up The UK current-account deficit widened in 3Q16 as Britain posted its worst trade performance in almost three years. The difference between money coming into the UK and money sent out was 25.5bn (US$31.3bn), the Office for National Statistics said. That s equal to 5.2% of gross domestic product. The trade deficit widened to 2.8%, the most since 4Q13. President Xi open to growth in China falling below 6.5% President Xi Jinping isn t wedded to China s 6.5% economic growth objective due to concerns about rising debt and an uncertain global environment after Donald Trump s election win in the US, according to a person familiar with the situation. Xi told a meeting of the Communist Party s financial and economic leading group this week that China doesn t need to meet the objective if doing so creates too much risk, said the person, who asked not to be named because the discussions were private. Leaders at the gathering agreed that the US$11tron economy would remain stable with slower growth as long as employment stays firm, the person said. Brazil s public accounts worsen in November as slump drags on Brazil s public accounts deteriorated in November as the country s worst recession in a century drags on, according to a partial snapshot of government finances published by the national treasury. The central government s primary budget deficit, which excludes interest payments and the finances of states and municipalities, hit 38.4bn reais in November, its worst-ever result for the month. That compares with a oneoff surplus of 40.8bn reais in October and a median forecast of a 41bn reais deficit from analysts surveyed by Bloomberg. **Oil market closed due to Christmas Day** Source: Bloomberg (Lim Yee Ping; ; yeeping.lim@affinhwang.com) Page 2 of 6
3 Market Summary Table 1: Off Market transactions Shares Price (RM) Vol (m) Val (RMm) Type* CYPARK D TITIJYA D KLCC D PAVREIT D BURSA D LITRAK D SIME D MAXIS D IJM D BIMB D GESHEN D ECOFIRS D Source: Bloomberg Table 2: Shares Buyback/ Resale Company* Date Units Treasury Transaction SUNWAY 23-Dec 250,000 38,199,800 Share Buyback * Only FBM100 Component Stocks Table 3: ESOS Company* Date Units Transaction * Only FBM100 Component Stocks Table 4: Entitlements Company Entitlement Ex-Date Lodgement Payment MYEG Bonus Issue 28-Dec 30-Dec - MALTON Loan Stock Interest 28-Dec 30-Dec 12-Jan-17 KOBAY Bonus Issue 28-Dec 30-Dec - VIZIONE-LA Others 5-Jan 9-Jan - VIZIONE Rights Issue 5-Jan 9-Jan - XINHWA Bonus Issue 6-Jan 10-Jan - Table 5: Bursa Malaysia Trade Statistics Participant Participation (%) Bought (RMm) Sold (RMm) Net (RMm) Local Institution Local Retail Foreign Total , , Page 3 of 6
4 Fig 6: Shareholdings change Substantial Shareholder Date Transaction Units Company Amanah Raya Trustees 21-Dec-16 Disposed 51,500 AIRPORT EPF 20-Dec-16 Disposed 600,000 AMBANK Amanah Raya Trustees 21-Dec-16 Acquired 969,100 BIMB EPF 14 to 16-Dec-16 Acquired 9,477,100 CIMB EPF 13 to 19-Dec-16 Disposed 11,203,816 CIMB EPF 20-Dec-16 Acquired 2,359,500 DIALOG EPF 20-Dec-16 Acquired 1,709,800 DIGI EPF 16 to 19-Dec-16 Acquired 208,300 F&N Amanah Raya Trustees 21-Dec-16 Disposed 349,900 F&N EPF 20-Dec-16 Disposed 207,400 GAMUDA EPF 20-Dec-16 Disposed 1,000,000 GENP EPF 20-Dec-16 Disposed 141,300 HARTA EPF 20-Dec-16 Acquired 902,700 HLBANK EPF 20-Dec-16 Disposed 664,500 HLBANK EPF 20-Dec-16 Acquired 800,000 IGBREIT EPF 20-Dec-16 Disposed 1,403,600 IGBREIT EPF 20-Dec-16 Acquired 2,287,500 IHH EPF 20-Dec-16 Acquired 1,500,000 IJM Amanah Raya Trustees 21-Dec-16 Disposed 5,008,900 IJM EPF 20-Dec-16 Acquired 500,000 INARI EPF 20-Dec-16 Disposed 2,000,000 INARI EPF 20-Dec-16 Acquired 400,000 IOICORP EPF 20-Dec-16 Disposed 286,300 IOICORP EPF 20-Dec-16 Acquired 168,500 IOIPG EPF 20-Dec-16 Acquired 100,000 KLK EPF 20-Dec-16 Disposed 538,400 KLK EPF 20-Dec-16 Acquired 1,795,900 MAYBANK Amanah Raya Trustees 21-Dec-16 Disposed 760,500 MAYBANK EPF 19-Dec-16 Acquired 69,200 NESTLE EPF 20-Dec-16 Acquired 1,260,000 PBBANK EPF 20-Dec-16 Disposed 3,707,800 PBBANK EPF 20-Dec-16 Acquired 2,831,900 PCHEM EPF 20-Dec-16 Disposed 1,317,600 PETGAS EPF 20-Dec-16 Disposed 228,700 PPB EPF 20-Dec-16 Disposed 662,400 SKPETRO EPF 20-Dec-16 Acquired 1,000,000 SPSETIA Amanah Raya Trustees 21-Dec-16 Acquired 1,310,000 SUNREIT EPF 20-Dec-16 Disposed 3,000,000 SUNREIT EPF 20-Dec-16 Acquired 287,900 TAKAFUL EPF 20-Dec-16 Disposed 150,000 TAKAFUL Amanah Raya Trustees 19 to 20-Dec-16 Acquired 9,768,700 TENAGA EPF 19-Dec-16 Disposed 4,869,500 TENAGA EPF 19 to 20-Dec-16 Acquired 1,160,800 TM Amanah Raya Trustees 20 to 21-Dec-16 Disposed 252,000 TM EPF 20-Dec-16 Acquired 1,464,500 TOPGLOV EPF 20-Dec-16 Disposed 200,000 WCT EPF 20-Dec-16 Acquired 500,000 YINSON EPF 20-Dec-16 Disposed 349,500 YINSON EPF 20-Dec-16 Disposed 1,351,500 YTL EPF 1 to 20-Dec-16 Disposed 302,000 YTLPOWR Source: Bursa Malaysia Page 4 of 6
5 Fig 7: Dividend Entitlement Stocks Particulars DPS (sen) Announce Ex-Date Lodge Payment CHEEWAH First and Final Dividend Oct Dec Dec-16 9-Jan-17 SCIENTX Final Dividend Sep Dec Dec Jan-17 IQGROUP Interim Dividend Nov Dec Dec Jan-17 PTRANS Second Interim Dividend Nov Dec Dec Jan-17 PRLEXUS Final Dividend Nov Dec Dec Jan-17 UCHITEC Interim Dividend Dec Dec Dec Jan-17 ADVPKG Interim Dividend Dec Dec Dec Jan-17 KRETAM Interim Dividend Dec Dec Dec Jan-17 PLABS Interim Dividend Dec Dec Dec Jan-17 PESTECH Final Dividend Dec Dec Dec Jan-17 BIMB Interim Dividend Dec Dec Dec Jan-17 DSONIC Second Interim Dividend Dec Dec-16 3-Dec Jan-17 SUCCESS Interim Dividend Dec Dec-16 3-Jan Jan-17 SUPERLN Interim Dividend Dec Dec-16 3-Jan Jan-17 FLBHD Interim Dividend Dec Dec-16 3-Jan Jan-17 IMASPRO First and Final Dividend Oct Dec-16 4-Jan Jan-17 GREENYB Final Dividend Nov Dec-16 4-Jan Jan-17 SURIA Interim Dividend Dec Dec-16 4-Jan Jan-17 FACBIND Final Dividend Oct-16 3-Jan-17 5-Jan Jan-17 GAMUDA First Interim Dividend Dec-16 3-Jan-17 5-Jan Jan-17 CBIP Second Interim Dividend Dec-16 3-Jan-17 5-Jan Jan-17 P&O First Interim Dividend Dec-16 3-Jan-17 5-Jan Jan-17 RANHILL Interim Dividend Dec-16 3-Jan-17 5-Jan Jan-17 HIAPTEK Final Dividend Nov-16 4-Jan-17 6-Jan Jan-17 SCC Interim Dividend Nov-16 4-Jan-17 6-Jan Jan-17 CYL Interim Dividend Dec-16 4-Jan-17 6-Jan Jan-17 TAKAFUL Interim Dividend Dec-16 4-Jan-17 6-Jan Jan-17 BAUTO Second Interim Dividend Dec-16 5-Jan-17 9-Jan Jan-17 BJTOTO Second Interim Dividend Dec-16 5-Jan-17 9-Jan Jan-17 KESM Final Dividend Oct-16 6-Jan Jan Jan-17 TOPGLOV Final Dividend Nov-16 6-Jan Jan Jan-17 PRTASCO Interim Dividend Nov-16 9-Jan Jan Jan-17 UMCCA First Interim Dividend Dec-16 9-Jan Jan-17 9-Jan-17 VS Final Dividend Nov Jan Jan Jan-17 RVIEW Interim Dividend Dec Jan Jan Jan-17 ELKDESA Interim Dividend Nov Jan Jan-17 8-Feb-17 BENALEC Final Dividend Oct Jan Jan Feb-17 PRESTAR Interim Dividend Nov Jan Jan Feb-17 F&N Final Dividend Dec Jan Jan-17 6-Feb-17 TAMBUN Interim Dividend Nov Jan Jan Feb-17 OLDTOWN Interim Dividend Nov Jan Jan Feb-17 DNEX Second Interim Dividend Dec Jan Jan Feb-17 POHKONG First and Final Dividend Nov Feb Feb-17 9-Mar-17 BKAWAN Final Dividend Nov Feb Feb Mar-17 KLK Final Dividend Nov Feb Feb Mar-17 PLB First and Final Dividend Dec Feb Feb Mar-17 VS First Interim Dividend Dec Feb Feb Mar-17 SYF First and Final Dividend Nov Mar Mar Mar-17 Source: Bursa Malaysia Page 5 of 6
6 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 6 of 6
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