Today s Highlights. Outside Malaysia. Company Update WCT Holdings (BUY, maintain) - New chapter

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1 Oct-15 Jan-16 Apr-16 Jul-16 Oct-16 2 November 2016 Today s Highlights Bursa Malaysia KLCI 52-wk range Company Update WCT Holdings (BUY, maintain) - New chapter Outside Malaysia US stocks fall to July low as election anxiety rises amid Fed US manufacturing expands at modest pace as orders moderate UK factories hail pound boost to exports, fret about costs Mkt Cap (RMbn) 1, Vol (m shrs) 1, Value (RMm) 1, KLCI futures (spot) 1, KLCI futures (1-mth) 1, KLCI Index (12-mth) BOJ stands pat even as it delays timing of inflation goal RBA holds cash rate as brisk housing market outweighs CPI China factory gauge jumps to two-year high, services strengthen 1550 Top 5 Gainers New Zealand jobless rate falls to lowest since 2008 Oil falls to one-month low, shrugging off fuel pipeline blast Price (RM) chg (RM) % chg DLADY (0.10) (0.2) KESM 9.38 (0.33) (3.4) GKENT AXIATA 4.92 (0.11) (2.2) PMETAL 2.25 (0.03) (1.3) Top 5 Losers Price (RM) chg (RM) % chg BAT PANAMY GENP PPB CARLSBG (0.08) (0.55) Top 5 Value Traded Price (RM) chg (RM) Val (RMm) TENAGA (0.08) PBBANK NESTLE (0.02) 2.03 SIME CIMB 5.03 unch Key Equity Indices Close % chg Ytd chg (%) Other Markets Key Indicators KLCI (1.3) Dow Jones (0.1) 3.5 Nasdaq (0.0) 2.9 COMMODITIES CURRENCIES Latest chg (%) Latest Ytd chg (%) CPO (RM/Tonne) RM/US$ Spot (Jan) 2,764.0 (0.9) RM per 100 Yen 4.02 (11.2) 3-mth futures (Mar) 2,763.0 (0.9) RM/S$ Yen/US$ Brent Crude Oil (US$/brl) Eur/US$ 0.90 (1.8) Spot 46.9 (3.8) RM/AUD 3.20 (1.9) 1-mth futures 47.5 (3.8) MALAYSIA INTEREST RATES Latest Ytd chg (bps) Gold (US$/oz) OPR (%) 3.00 (25.0) Spot (0.3) 3-mth Klibor (%) 3.40 (44.0) 1-mth futures (0.3) Maybank BR (%) *as at 1 July 2016 FTSE (0.6) 10.8 East. Europe (0.7) (8.5) Mexico Shenzen B (0.1) (10.2) Shanghai B (0.1) (11.8) Hong Kong (0.1) 5.6 Korea (0.6) 1.7 Singapore (0.1) (2.4) Indonesia Philippines NA Thailand Vietnam (0.9) 16.9 India NA Taiwan (0.2) 11.2 Page 1 of 7

2 Outside Malaysia US stocks fall to July low as election anxiety rises amid Fed US stocks fell to the lowest since July, as concern over everything from presidential politics to Federal Reserve rate hikes and coming data on the labor market sent gauges of anxiety surging. The S&P 500 Index declined 0.7% to 2, The Dow slipped points (0.6%) to 18, US manufacturing expands at modest pace as orders moderate America s factories barely expanded last month as faster production cushioned a slowdown in orders that signals the manufacturing sector is plodding along. The Institute for Supply Management s index rose to 51.9 in October from 51.5 the previous month, figures from the group showed. The median forecast in a Bloomberg survey called for UK factories hail pound boost to exports, fret about costs UK manufacturers are continuing to benefit as the pound s depreciation helps exports, though many are also taking a cost hit from the currency. IHS Markit s Purchasing Managers Index showed that export orders rose at a robust pace in October, with increased sales to the European Union, the US and China. The headline factory gauge was at 54.3 last month, down from a two-year high of 55.5 in September. BOJ stands pat even as it delays timing of inflation goal The Bank of Japan (BOJ) kept its monetary policy unchanged while delaying the projected timing for reaching its inflation goal beyond Haruhiko Kuroda s term. The BOJ kept its target for the 10-year government bond yields at around zero percent, and left the policy rate on a portion of commercial bank reserves at minus 0.1%. It said consumer prices excluding fresh food would "increase toward 2%" in the second half a period that runs through March RBA holds cash rate as brisk housing market outweighs CPI Reserve Bank of Australia (RBA) Governor Philip Lowe kept interest rates unchanged, signaling he s prepared to tolerate weak inflation to avoid further stoking briskly rising property prices and household debt. Lowe opted not to react to soft consumer prices growth last quarter and held the cash rate at 1.5%, in line with median forecast in a Bloomberg survey. China factory gauge jumps to two-year high, services strengthen China s official factory gauge rose to the highest since July 2014, led by new orders, suggesting the economy s stabilization continued into 4Q16 as robust consumption underpins demand. Manufacturing purchasing managers index rose to 51.2 in October, the National Bureau of Statistics said, from 50.4 in the prior two months. PMI beat all economist forecasts in a Bloomberg survey, with a median estimate of New Zealand jobless rate falls to lowest since 2008 New Zealand unemployment fell to near an eight-year low in 3Q16 as more people entered the work force and successfully found jobs. The jobless rate fell to 4.9% from a revised 5% three months earlier, Statistics New Zealand said. That s the lowest since 4Q08 and compares with the median analyst forecast of 5.1% in a Bloomberg survey. Oil falls to one-month low, shrugging off fuel pipeline blast Oil slipped to a one-month low as speculation that US crude stockpiles increased last week outweighed the impact of a fuel pipeline blast. Brent for January settlement declined US$0.47 (1%) to US$48.14 a barrel. Source: Bloomberg (Lim Yee Ping; ; yeeping.lim@affinhwang.com) Page 2 of 7

3 Market Summary Table 1: Off Market transactions Shares Price (RM) Vol (m) Val (RMm) Type* WCT D OCR D TSTORE D REACH D PBBANK D Source: Bloomberg Table 2: Shares Buyback/ Resale Company* Date Units Treasury Transaction * 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 SOP Right Issue 11-Nov 15-Nov - Source : Bursa Malaysia Page 3 of 7

4 Fig 5: Shareholding change Substantial Shareholder Date Transaction Units Company Aberdeen Asset Management Asia Ltd 28-Oct-16 Acquired 22,100 AEON Aberdeen Asset Management Plc 28-Oct-16 Acquired 180,600 AEON EPF 27-Oct-16 Acquired 49,700 AEON EPF 27-Oct-16 Acquired 156,800 AIRPORT Amanah Raya Trustees 27 to 28-Oct-16 Disposed 2,002,100 AIRPORT EPF 26-Oct-16 Acquired 100 AMBANK Amanah Raya Trustees 27-Oct-16 Acquired 3,004,400 ARMADA EPF 26-Oct-16 Acquired 130,900 BIMB Lembaga Tabung Haji 28-Oct-16 Acquired 34,400,000 BIMB Amanah Raya Trustees 27-Oct-16 Disposed 119,700 BIMB EPF 26-Oct-16 Acquired 3,760,200 CIMB EPF 26-Oct-16 Disposed 2,261,500 CIMB Amanah Raya Trustees 27 to 28-Oct-16 Acquired 2,861,100 CMMT EPF 27-Oct-16 Acquired 2,496,000 DIALOG EPF 27-Oct-16 Disposed 3,000,000 DIALOG EPF 27-Oct-16 Acquired 592,500 DIGI Amanah Raya Trustees 27-Oct-16 Acquired 1,000,000 DIGI EPF 27-Oct-16 Acquired 232,800 DRBHCOM Amanah Raya Trustees 27 to 28-Oct-16 Acquired 828,400 F&N EPF 27-Oct-16 Acquired 18,600 GAMUDA Amanah Raya Trustees 27 to 28-Oct-16 Acquired 2,166,300 GAMUDA EPF 27-Oct-16 Disposed 55,800 GENP EPF 27-Oct-16 Disposed 66,100 HARTA EPF 27-Oct-16 Acquired 231,500 HLBANK EPF 27-Oct-16 Acquired 429,600 IHH Lembaga Tabung Haji 27-Oct-16 Acquired 522,500 IJM EPF 27-Oct-16 Acquired 1,209,600 INARI EPF 27-Oct-16 Disposed 1,023,000 INARI EPF 27-Oct-16 Acquired 1,755,400 IOICORP Amanah Raya Trustees 27-Oct-16 Disposed 1,332,400 IOICORP EPF 27-Oct-16 Acquired 565,400 KLK Amanah Raya Trustees 27 to 28-Oct-16 Disposed 222,800 LITRAK Lembaga Tabung Haji 27 to 28-Oct-16 Acquired 2,000,000 MAHSING EPF 27-Oct-16 Acquired 54,000 MAXIS Amanah Raya Trustees 27-Oct-16 Disposed 9,900 MAXIS EPF 26-Oct-16 Disposed 1,000,000 MAXIS EPF 24 to 27-Oct-16 Disposed 12,004,663 MAYBANK EPF 26-Oct-16 DRP 31,394,595 MAYBANK EPF 21-Oct-16 Acquired 151,600 MISC Lembaga Tabung Haji 28-Oct-16 Acquired 47,500 MMHE Lembaga Tabung Haji 28-Oct-16 Acquired 82,600 MRCB EPF 27-Oct-16 Disposed 65,800 NESTLE EPF 27-Oct-16 Acquired 255,900 PBBANK EPF 27-Oct-16 Disposed 1,757,900 PBBANK EPF 27-Oct-16 Acquired 2,572,900 PCHEM EPF 27-Oct-16 Disposed 848,900 PETGAS EPF 27-Oct-16 Acquired 290,000 POS EPF 27-Oct-16 Disposed 672,800 POS EPF 27-Oct-16 Acquired 158,200 PPB Lembaga Tabung Haji 27 to 28-Oct-16 Acquired 381,500 PUNCAK EPF 27-Oct-16 Acquired 828,700 SIME Amanah Raya Trustees 27-Oct-16 Acquired 3,000,000 SIME Source: Bursa Malaysia Page 4 of 7

5 Substantial Shareholder Date Transaction Units Company EPF 27-Oct-16 Disposed 4,379,500 SIME EPF 27-Oct-16 Acquired 2,065,200 SPSETIA EPF 26 to 27-Oct-16 Acquired 141,400 SUNWAY Amanah Raya Trustees 28-Oct-16 Acquired 530,000 TM Amanah Raya Trustees 27-Oct-16 Acquired 2,483,800 TM EPF 25 to 27-Oct-16 Disposed 5,330,700 TM EPF 27-Oct-16 Acquired 709,000 TOPGLOV EPF 26-Oct-16 Disposed 250,000 WCT EPF 27-Oct-16 Acquired 50,000 WPRTS EPF 27-Oct-16 Acquired 42,972,300 YINSON Source: Bursa Malaysia Page 5 of 7

6 Fig 6: Dividend Entitlement Stocks Particulars DPS (sen) Announce Ex-Date Lodge Payment BCMALL First Interim Dividend Oct-16 3-Nov-16 7-Nov Nov-16 YINSON Special Dividend Oct-16 3-Nov-16 7-Nov Nov-16 IBRACO First Interim Dividend Oct-16 7-Nov-16 9-Nov Nov-16 GADANG First and Final Dividend Sep-16 8-Nov Nov Nov-16 CVIEW Second Interim Dividend Oct-16 9-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 BAT Interim Dividend Oct Nov Nov Nov-16 PAOS Interim Dividend Oct Nov Nov Nov-16 NESTLE Second Interim Dividend Oct Nov Nov-16 2-Dec-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 HEXZA Final Dividend Oct Nov Nov-16 8-Dec-16 GUOCO Final Dividend Oct Nov Nov-16 8-Dec-16 POHUAT Interim Dividend Sep Nov Nov Dec-16 TEKSENG Interim Dividend Oct Nov Nov Dec-16 SUPERMX Final Dividend Oct Nov Nov Dec-16 BONIA Final Dividend Oct Nov Nov Dec-16 GLOMAC Final Dividend Aug Nov Nov-16 8-Dec-16 MAXIS Interim Dividend Oct Nov Nov Dec-16 DIGI Interim Dividend Oct Nov-16 1-Dec Dec-16 MALTON First and Final Dividend Oct Nov-16 1-Dec Dec-16 PANTECH Second Interim Dividend Oct Nov-16 1-Dec Dec-16 TGL Final Dividend Oct Nov-16 1-Dec Dec-16 CHEETAH First and Final Dividend Oct Nov-16 2-Dec Dec-16 DIALOG Final Dividend Oct Nov-16 2-Dec Dec-16 HWANG Final Dividend Nov Nov-16 2-Dec Dec-16 KAREX Final Dividend Oct-16 1-Dec-16 5-Dec Dec-16 KLUANG First and Final Dividend Oct-16 1-Dec-16 5-Dec Dec-16 KUCHAI First and Final Dividend Oct-16 1-Dec-16 5-Dec Dec-16 SBAGAN First and Final Dividend Oct-16 1-Dec-16 5-Dec 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 PECCA Final Dividend Oct-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 AWC Final Dividend Oct Dec Dec Jan-17 SIGN Final Dividend Oct Dec Dec-16 9-Jan-17 YOCB Final Dividend Oct Dec Dec Jan-17 PTARAS Final Dividend Sep Dec Dec Jan-17 CHEEWAH First and Final Dividend Oct Dec Dec-16 9-Jan-17 SCIENTX Final Dividend Sep Dec Dec Jan-17 IMASPRO First and Final Dividend Oct Dec-16 4-Jan Jan-17 FACBIND Final Dividend Oct-16 3-Jan-17 5-Jan Jan-17 KESM Final Dividend Oct-16 6-Jan Jan Jan-17 BENALEC Final Dividend Oct Jan Jan Feb-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 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 7 of 7