Today s Highlights. Outside Malaysia. Company Update Superlon (NOT RATED) - Master in insulation

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1 Sep-15 Dec-15 Mar-16 Jun-16 Sep October 2016 Today s Highlights Company Update Superlon (NOT RATED) - Master in insulation Economy Malaysia Trade - Exports turned positive in August, up 1.5% yoy Economy Malaysia Foreign Reserves - Reserves rose slightly to US$97.7bn as at end-september Economy Budget 2017 Preview -People and business-friendly Budget in the offing B ursa M alaysia KLCI 52-wk range M kt Cap (RM bn) 1, Vol (m shrs) 1, Value (RMm) 1, KLCI futures (spot) 1, KLCI futures (1-mth) 1, KLC I Ind ex ( 12 - mt h) Outside Malaysia 1550 US stocks retreat as jobs data keep Fed on track to tighten Payrolls in US rise 156,000 as more Americans seek work Fed s Fischer says job gains contrast with poor growth in US German production jumps most since January on investment UK manufacturers post modest recovery from Brexit shock Kuroda signals BOJ may delay hitting inflation target to 2018 China foreign-exchange reserves drop as yuan pressures build Oil declines after Russia sees no deal with OPEC next week Other Markets Key Indicators COMMODITIES CURRENCIES Latest chg (%) Latest Ytd chg (%) CPO (RM/Tonne) RM/US$ Spot (Jan) 2,650.0 (1.5) RM per 100 Yen 4.04 (11.5) 3-mth futures (Mar) 2,561.0 (0.7) RM/S$ Yen/US$ Brent Crude Oil (US$/brl) Eur/US$ 0.89 (3.0) Spot 49.8 (1.2) RM/AUD 3.15 (0.2) 1-mth futures 50.4 (1.2) MALAYSIA INTEREST RATES Latest Ytd chg (bps) Gold (US$/oz) OPR (%) 3.00 (25.0) Spot (0.1) 3-mth Klibor (%) 3.40 (44.0) 1-mth futures (0.1) Maybank BR (%) *as at 1 July 2016 T o p 5 Gainers Price ( R M ) chg ( R M ) % chg PANAM Y UTDPLT HUATLAI TIENWAH GKENT T o p 5 Lo sers Price ( R M ) chg ( R M ) % chg BAT (0.58) (1.18) APEX 4.30 (0.30) (6.52) PETDAG (0.18) (0.76) UM W 5.89 (0.11) (1.83) ULICORP 3.98 (0.11) (2.69) T o p 5 V alue T rad ed Price ( R M ) chg ( R M ) V al ( R M m) TENAGA unch PBBANK (0.08) KLK CIM B TELEKOM 6.73 (0.02) Key Equity Indices C lo se % chg Y t d chg ( %) KLCI (0.1) (1.6) Dow Jones (0.2) 4.7 Nasdaq (0.3) 5.7 FTSE East. Europe (0.7) (7.4) M exico (0.7) 10.7 Shenzen B NT NT (13.6) Shanghai B NT NT (15.1) Hong Kong (0.4) 8.8 Korea (0.6) 4.7 Singapore (0.3) (0.3) Indonesia (0.6) 17.1 Philippines (0.5) 9.0 Thailand (0.6) 16.8 Vietnam (0.5) 18.1 India (0.2) 7.4 Taiwan (0.2) 11.1 Page 1 of 6

2 Outside Malaysia US stocks retreat as jobs data keep Fed on track to tighten US stocks slipped, as jobs data showing steady growth in the labor market kept the Federal Reserve on track to carry out an interest rate increase this year. The S&P 500 Index slipped 0.3% to 2, The Dow Jones Industrial Average lost points (0.2%) to 18, Payrolls in US rise 156,000 as more Americans seek work Employers continued to add to payrolls in September as record openings drew more Americans into the workforce and most found jobs, indicating the US labor market is settling into a pace that will support the economy. The 156,000 increase followed a 167,000 rise in August that was more than previously estimated, a Labor Department report showed. The median forecast surveyed by Bloomberg called for a reading of 172,000. Fed s Fischer says job gains contrast with poor growth in US Federal Reserve Vice Chairman Stanley Fischer said US job creation was continuing at a pace fully consistent with lower unemployment, but continued to contrast with a weak overall economic expansion. The problem in the economy is the difference between the remarkable success of policy at reducing unemployment, and the very low rate of growth in gross domestic product, said Fischer. German production jumps most since January on investment German industrial production jumped more than economists estimated in August on surging output of investment goods, according to figures released by the Economy Ministry. Output, adjusted for seasonal swings and inflation, rose 2.5% from July, when it dropped 1.5%. The median forecast in a Blomberg survey was for 1% gain. UK manufacturers post modest recovery from Brexit shock UK manufacturers staged a modest rebound from the initial shock of the Brexit vote, as a weaker pound boosted overseas demand for cars. Output rose 0.2% in August, less than the 0.4% predicted in a Bloomberg survey, Office for National Statistics data showed. It followed a 0.9% drop in July in the aftermath of the shock decision to leave the European Union. Kuroda signals BOJ may delay hitting inflation target to 2018 Governor Haruhiko Kuroda gave the clearest signal yet that the Bank of Japan (BOJ) may postpone the forecast date for achieving its 2% inflation target to 2018, even with economic growth set to accelerate next year. It may take slightly more months to reach the 2% inflation rate than the current forecast to hit it in the coming fiscal year, Kuroda said. China foreign-exchange reserves drop as yuan pressures build China s foreign-exchange reserves declined more than expected in September, amid speculation the central bank resumed selling dollars to support the yuan. The stockpile shrank to US$3.17trn last month, the People s Bank of China (PBOC) said in a statement. That s the lowest since April 2011 and below the median estimate of US$3.18trn in a Bloomberg survey of economists. Oil declines after Russia sees no deal with OPEC next week WTI fell below US$50 a barrel after Russia cast doubt over a deal any time soon with OPEC, following the group s pledge to reduce production. Brent for December settlement fell US$0.58 (1.1%) to US$51.93 a barrel. 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* DBE D BISON D TTJ D GNC D RAYA D TEKS D LAY D Source: Bloomberg Table 2: Shares Buyback/ Resale Company* Date Units Treasury Transaction SUNWAY 7-Oct 150,000 27,611,900 Shares Buyback PARKSON 7-Oct 140,000 13,931,880 Shares Buyback * Only FBM100 Component Stocks Source : Bursa Malaysia Table 3: ESOS Company* Date Units Transaction * Only FBM100 Component Stocks Table 4: Entitlements Company Entitlement Ex-Date Lodgement Payment MINTYE Right Issue 19-Oct 21-Oct - Source : Bursa Malaysia Page 3 of 6

4 Fig 5: Shareholding change Substantial Shareholder Date Transaction Units Company EPF 4-Oct-16 Disposed 454,800 AIRPORT Amanah Raya Trustees 4 to 5-Oct-16 Disposed 409,500 AIRPORT EPF 4-Oct-16 Acquired 4,193,000 ARMADA EPF 29-Sep-16 Disposed 8,000,000 ARMADA Amanah Raya Trustees 4-Oct-16 Acquired 62,000 BJAUTO EPF 22 to 30-Sep-16 Acquired 107,145,704 CIMB EPF 22 to 30-Sep-16 Disposed 105,741,004 CIMB EPF 4-Oct-16 Disposed 1,000,000 CMMT EPF 4-Oct-16 Acquired 3,000,000 DIALOG Amanah Raya Trustees 4 to 5-Oct-16 Disposed 2,000,000 DIGI EPF 29-Sep to 4-Oct-16 Disposed 3,305,000 DIGI EPF 30-Sep to 4-Oct-16 Acquired 226,400 F&N Amanah Raya Trustees 30-Sep-16 Acquired 500,000 F&N EPF 30-Sep-16 Disposed 425,800 F&N Amanah Raya Trustees 4 to 5-Oct-16 Disposed 2,512,600 GAMUDA EPF 4-Oct-16 Acquired 622,600 GENP EPF 4-Oct-16 Disposed 879,700 HARTA EPF 4-Oct-16 Acquired 4,100 HLBANK Lembaga Tabung Haji 4 to 5-Oct-16 Acquired 100,200 HSPLANT EPF 4-Oct-16 Acquired 1,649,700 IGBREIT EPF 4-Oct-16 Disposed 300,000 IGBREIT EPF 4-Oct-16 Acquired 106,100 IHH EPF 4-Oct-16 Acquired 550,000 IJM EPF 4-Oct-16 Acquired 1,830,600 IJMPLNT EPF 4-Oct-16 Disposed 399,500 IOICORP Amanah Raya Trustees 5-Oct-16 Disposed 8,821,600 KLCC Amanah Raya Trustees 5-Oct-16 Disposed 8,821,600 KLCC EPF 4-Oct-16 Acquired 2,456,100 KLK Amanah Raya Trustees 4 to 5-Oct-16 Disposed 1,926,000 KLK Amanah Raya Trustees 4 to 5-Oct-16 Acquired 3,173,000 MAHSING EPF 4-Oct-16 Disposed 1,394,800 MAHSING EPF 29-Sep to 4-Oct-16 Disposed 2,757,400 MAXIS EPF 28-Sep-16 Acquired 57,696,919 MAYBANK Lembaga Tabung Haji 4 to 5-Oct-16 Disposed 1,000,000 MMCCORP EPF 30-Sep-16 Disposed 1,200 PANAMY Lembaga Tabung haji 4-Oct-16 Acquired 450,000 PARKSON EPF 4-Oct-16 Acquired 2,085,500 PBBANK EPF 4-Oct-16 Acquired 5,200,000 PCHEM EPF 4-Oct-16 Acquired 494,400 PETGAS EPF 4-Oct-16 Acquired 393,200 POS EPF 4-Oct-16 Disposed 121,400 POS EPF 4-Oct-16 Acquired 286,000 PPB EPF 30-Sep-16 Acquired 374,900 SIME EPF 29-Sep to 4-Oct-16 Disposed 7,500,000 SKPETRO EPF 4-Oct-16 Acquired 1,354,500 SPSETIA EPF 4-Oct-16 Disposed 400,000 SPSETIA Amanah Raya Trustees 4-Oct-16 Acquired 464,000 SUNREIT EPF 4-Oct-16 Disposed 500,000 SUNREIT Amanah Raya Trustees 5-Oct-16 Disposed 759,800 SUNWAY EPF 4-Oct-16 Acquired 56,100 TAKAFUL EPF 30-Sep to 4-Oct-16 Acquired 6,787,700 TENAGA EPF 30-Sep-16 Disposed 880,000 TENAGA EPF 4-Oct-16 Acquired 4,355,300 TM Amanah Raya Trustees 4 to 5-Oct-16 Disposed 4,344,000 TM EPF 4-Oct-16 Acquired 100,000 TOPGLOV EPF 30-Sep-16 Acquired 1,100,600 UMWOG EPF 4-Oct-16 Disposed 601,200 UMWOG EPF 4-Oct-16 Acquired 20,100 UOADEV EPF 4-Oct-16 Disposed 1,378,200 UOADEV EPF 4-Oct-16 Acquired 1,500,000 WPRTS EPF 4-Oct-16 Disposed 689,400 WPRTS EPF 4-Oct-16 Disposed 27,700 YINSON EPF 4-Oct-16 Acquired 2,687,600 YTL Source: Bursa Malaysia Page 4 of 6

5 Fig 6: Dividend Entitlement Stocks Particulars DPS (sen) Announce Ex-Date Lodge Payment BJFOOD First Interim Dividend Sep Oct Oct Oct-16 MAGNI Final Dividend Aug Oct Oct Oct-16 MAGNI Special Dividend Aug Oct Oct Oct-16 MAGNI Interim Dividend Sep Oct Oct Oct-16 GKENT Interim Dividend Sep Oct Oct Nov-16 LAYHONG Final Dividend Sep Oct Oct-16 3-Nov-16 LBS Special Dividend Aug Oct Oct Nov-16 ORIENT Interim Dividend Sep Oct Oct Nov-16 OSK Interim Dividend Sep Oct Oct Oct-16 SOLID Final Dividend Aug Oct Oct Oct-16 SUNWAY Interim Dividend Sep Oct Oct Oct-16 TASCO Final Dividend Jul Oct Oct Oct-16 VS Interim Dividend Sep Oct Oct Oct-16 SBCCORP First and Final Dividend Jul Oct Oct-16 3-Nov-16 AEONCR Interim Dividend Oct Oct Oct-16 7-Nov-16 P&O Interim Dividend Oct Oct Oct-16 9-Nov-16 CCMDBIO Interim Dividend Aug Oct Oct Nov-16 GTRONIC Special Dividend Aug Oct Oct-16 3-Nov-16 GTRONIC Second Interim Dividend Aug Oct Oct-16 3-Nov-16 CRESNDO Interim Dividend Sep Oct Oct Nov-16 SHANG Interim Dividend Aug Oct Oct Nov-16 CIHLDG Final Dividend Sep Oct Oct Nov-16 CHINWEL Second Interim Dividend Aug Oct Oct Nov-16 KSENG Interim Dividend Aug Oct Oct Nov-16 KEINHIN First and Final Dividend Aug Oct Oct Nov-16 KMLOONG Interim Dividend Sep Oct Oct Nov-16 YTL Interim Dividend Aug Oct Oct Nov-16 YTLPOWR Interim Dividend Aug Oct Oct Nov-16 CCM Interim Dividend Aug Oct-16 1-Nov Nov-16 EMETALL Interim Dividend Sep Oct-16 1-Nov Nov-16 FREIGHT Second Interim Dividend Aug Oct-16 1-Nov Nov-16 CSCENIC First Interim Dividend Aug Oct-16 2-Nov Nov-16 HLBANK Final Dividend Sep Oct-16 2-Nov Nov-16 HLCAP Final Dividend Oct-16 1-Nov-16 3-Nov Nov-16 SUIWAH First and Final Dividend Sep-16 1-Nov-16 3-Nov Nov-16 OKA Final Dividend Jul-16 2-Nov-16 4-Nov Nov-16 GADANG First and Final Dividend Sep-16 8-Nov Nov Nov-16 HAIO Final Dividend Aug-16 9-Nov Nov Nov-16 SPRITZER First and Final Dividend Sep-16 9-Nov Nov Nov-16 PLENITU Final Dividend Oct Nov Nov Nov-16 ATTA Special Dividend Oct Nov Nov Dec-16 ATTA Second Interim Dividend Oct Nov Nov Dec-16 POHUAT Interim Dividend Sep Nov Nov Dec-16 BONIA Final Dividend Oct Nov Nov Dec-16 GLOMAC Final Dividend Aug Nov Nov-16 8-Dec-16 FIBON Final Dividend Sep-16 6-Dec-16 8-Dec Dec-16 DAIMAN First and Final Dividend Aug-16 7-Dec-16 9-Dec Dec-16 APOLLO First and Final Dividend Jun-16 8-Dec Dec-16 9-Jan-17 LATITUD First and Final Dividend Sep Dec Dec Jan-17 PENSONI Final Dividend Sep Dec Dec Dec-16 PTARAS Final Dividend Sep Dec Dec Jan-17 SCIENTX Final Dividend Sep Dec Dec Jan-17 BENALEC Final Dividend Oct Jan Jan Feb-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