Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Market Insight Wednesday, 9 November, 2016 16795/03/2013(031743) www.bisonline.com.my Major Highlights Petronas Dagangan posts better earnings on improved margins Hartalega Q2 net profit rises to RM71.22m IOI Properties group member offers S$2.6bn for Marina Bay land FGV signs MoU with Sabah Forestry Dept Ekovest bags RM157m contract from DBKL Titijaya partners CREC for RM2.1bn project Bursa Malaysia Bursa Malaysia Close Change +/- Change % FBMKLCI 1,663.82 13.23 0.80 FBMEMAS 11,698.74 81.63 0.70 FBM100 11,409.10 84.60 0.75 FBMEMAS Shariah 12,282.63 60.79 0.50 FBM Hijrah Shariah 13,702.86 66.77 0.49 Volume (mn) 1,247.15-236.19-15.92 Value (RMmn) 1,707.99-21.51-1.24 FBMKLCI YTD Chg -1.70 Scoreboard Close Change +/- Change % Gainers 441 72 19.51 Losers 320-65 -16.88 Unchanged 348-31 -8.18 Regional Indices Close Change +/- Change % YTD Change DJIA 18,332.74 73.14 0.40 5.21 NASDAQ 5,193.49 27.32 0.53 3.72 S&P 500 2,139.56 8.04 0.38 4.68 FTSE 100 6,843.13 36.23 0.53 9.62 Nikkei 225 17,171.38-5.83-0.03-9.78 HSI 22,909.47 108.07 0.47 4.54 SHCOMP 3,147.89 14.55 0.46-11.06 KOSPI 2,003.38 5.80 0.29 2.14 TWSE 9,217.43 27.59 0.30 10.55 STI 2,820.24 19.29 0.69-2.17 JCI 5,470.68 84.47 1.57 19.11 SET 1,509.84 7.57 0.50 17.22 PSEi 7,307.80 110.61 1.54 5.12 Market Valuation (PER) FY16 FY17 5Y Average FBMKLCI 17.03 15.88 16.60 SHCOMP 14.77 13.06 11.08 HSI 12.67 11.57 11.05 JCI 17.99 15.14 15.23 SET 15.61 14.15 13.71 STI 13.62 13.02 13.91 PSEi 18.53 17.05 17.40 The Research Team bimbresearch@bimbsec.com.my 03-2613 1738 Local & Global Economic News Malaysia's Q3 growth seen picking up despite commodities drag Unsold new London luxury-home glut to reach record on oversupply UK factory output surges on repair and maintenance German industrial output down in September OPEC raises oil-demand forecast on outlook for cheaper crude KLCI Performance 1900 1850 1800 1750 1700 1650 1600 1550 1500 KLCI Year-End Target: 1,720 points Sector Indices Close Change +/- Change % Industrial 3,155.99 16.68 0.53 Consumer 600.72 3.66 0.61 Industrial Products 146.35 0.21 0.14 Construction 289.94 0.41 0.14 Finance 14,454.90 144.27 1.01 Property 1,176.18 3.07 0.26 Plantation 7,808.46 54.06 0.70 Technology 22.56 0.19 0.85 KLCI Futures Contracts Oct-16 Nov-16 High 1,661.50 1,661.00 Low 1,648.50 1,650.00 Last 1,660.50 1,661.00 Volume 8,584.00 409.00 Commodities (Most Recent Close) Close Change +/- (+/- %) % Brent Crude (USD/bbl) 46.04-0.11-0.24 WTI Crude (USD/bbl) 44.98-0.05-0.11 Gold (USD/ounce) 1,275.65-4.51-0.35 CPO (RM/MT) 2,843.00 54.00 1.94 SMR 20 (sen/kg) 658.00 24.50 3.87 Latex (sen/kg) 504.50 3.50 0.70 Soybean Oil 35.31 0.52 1.49 Forex (per USD1) Close Change +/- Change % MYR 4.2017 0.0024 0.06 JPY 105.1600 0.7000 0.67 EUR 0.9070 0.0012 0.13 SGD 1.3864-0.0031-0.22 www.bimbsec.com.my BIMB Securities 1
Major Rates KLIBOR 3-mth 3.40% KLIBOR 6-mth 3.52% KLIBOR 12-mth 3.62% 5-yr MGS 3.33% 10-yr MGS 3.65% Active Stock Close Change+/- (+/- %) Rgb International 0.25 0.00 0.00 Airasia X 0.44 0.01 1.16 Hibiscus Petroleum 0.30-0.01-3.23 Perisai Petroleum 0.05-0.01-10.00 K-Star Sports 0.09-0.02-19.05 Daily Participation Participation (%) Bought (RMm) Sold (RMm) Net (RMm) Local Inst 61.0 996.3 1,086.0-89.7 Local Retail 12.8 200.6 237.2-36.6 Foreign 26.2 511.1 384.8 126.3 Total 100.0 1,708.0 1,708.0 0.0 Top Gainers Close Change+/- (+/- %) British American Tobacco 48.36 1.40 2.98 Kossan Rubber Industries 6.87 0.21 3.15 Perusahaan Sadur Timah 6.85 0.18 2.70 Dutch Lady 58.70 0.14 0.24 Rhb Bank 4.73 0.13 2.83 Top Losers Close Change+/- (+/- %) Panasonic Manufacturing 36.12-0.38-1.04 Pie Industrial 1.71-0.17-9.04 Tasek Corp 13.82-0.12-0.86 Carlsberg Brewery 14.50-0.10-0.68 Hong Leong Industries 9.65-0.09-0.92 www.bimbsec.com.my 2
LOCAL CORPORATE NEWS Petronas Dagangan posts better earnings on improved margins PetDag earnings rose 13.7% to RM248.76m for the 3Q due to improved margins in diesel, aviation and fuel oil. This was despite a 14.9% drop in revenue to RM5.54bn. The lower revenue was a result of a decrease in the average selling price of 13%, coupled with a lower sales volume of 2%. The drop in the average selling price was due to the fall in Mean of Platts Singapore (MOPS) prices. Although the average selling prices for the retail and commercial segments slid 15% and 11% respectively, both segments recorded higher operating profits. (Source: StarBiz) Hartalega Q2 net profit rises to RM71.22m Hartalega reported a higher net profit of RM71.22m for the 2Q on the back of continuing expansion via its Next Generation Integrated Glove Manufacturing Complex (NGC). The 2Q net profit was an increase from the RM60.41m that the company recorded during the corresponding period last year. Its revenue for the quarter also rose to RM436.98m compared to RM379.35m a year ago. For the cumulative 6 month period ended Sept 30, the company reported a net profit of RM127.39m and a revenue of RM838.8m. Both figures represent a rise from last year, where it recorded a net profit and revenue of RM123.09m and RM699.86m, respectively. (Source: StarBiz) IOI Properties group member offers S$2.6bn for Marina Bay land Wealthy Link Pte Ltd has made the highest bid of S$2.6bn (RM7.88bn) to buy land in Singapore s downtown Marina Bay in a tender that attracted 7 property developers. The price offered by Wealthy Link, part of IOI Properties, is a reflection of the steady restoration of investor confidence in the Singapore office market. Grade A office market has been down for the past 6Q, but was likely to recover post-2017 when new supply is completed. A decision on the tender award would be taken after all the bids had been evaluated. (Source: StarBiz) FGV signs MoU with Sabah Forestry Dept FGV has signed a MoU with the Sabah Forestry Department to explore the possibility of collaborating with each other. The MoU sets out the understanding and intention of the parties and shall be for a period of two years or any extended period as agreed in writing by the parties. The collaboration involves the rehabilitation of riparian and forest buffer zone that lies between the forest reserve and FGV estate in Sahabat, Sabah. (Source: TheEdge) Ekovest bags RM157m contract from DBKL Ekovest via its unit EkoRiver Construction SB, has secured an improvement and beautification works contract, worth RM157.25m, from the Kuala Lumpur City Hall (DBKL). The contract consisted of 2 packages, one that involved Dataran Merdeka and Jalan Tun Perak to Jalan Tun Tan Cheng Lock and the second one was Masjid India. The contract also included the construction of an interceptor system and related works to improve the river water quality including the water treatment system along Sungai Gombak and Sungai Klang under the River of Life project. (Source: Bernama) Titijaya partners CREC for RM2.1bn project Titijaya Land subsidiary Titijaya Resources SB, has signed an agreement with CREC Development (M) SB for a mixed development project at Embassy Row in Jalan Ampang, Kuala Lumpur. The proposed development on 6.06 acres is expected to have a gross development value of RM2.1bn. To carry out the project, the 2 companies acquired Ampang Avenue Development SB, whose subsidiary is the registered proprietor of the land, for RM80m. The signing marked an important milestone for Titijaya in its efforts to broaden its revenue stream. (Source: StarBiz) Cahya Mata opens Sabah and Sarawak s first integrated cement plant Cahya Mata Sarawak (CMSB), an investment holding company, on Tuesday opened its RM190m integrated cement plant in Jalan Mambong, off Borneo Heights Road, here. The new plant, CMSB s third and largest cement grinding plant, is the first integrated cement plant in Sabah and Sarawak, and adjoins the group s clinker plant. The 1m tonne grinding plant incorporated state of the art European technology comprising a ball mill (with a rated capacity of 150 tonnes/hour), a high efficiency separator, 2 units of 10,000 tonnes concrete silos, four-line bulk loaders and a 3,000 bag per hour packing and palletising machine. (Source: Bernama) www.bimbsec.com.my 3
LOCAL AND GLOBAL ECONOMIC NEWS Malaysia's Q3 growth seen picking up despite commodities drag Malaysia's growth is expected to steady in the 3Q, breaking a 5Q sequence of declines, with analysts reckoning on domestic demand offsetting weak global demand for the Southeast Asian country's oil, gas and commodity exports. The median forecast in a Reuters poll of 14 economists was for annual growth to hit 4.1% in July-September, a slight improvement on the 2Q 4.0% growth. Though it was the weakest performance since a 1.2% contraction in the 3Q of 2009, the bright spots for the 2Q were strong growth in domestic demand and private investment. (Source: Reuters) Unsold new London luxury-home glut to reach record on oversupply The number of unsold central London homes under construction will reach a record high this year as developers bets on rising demand for luxury homes risk going sour. Homes currently being built that have yet to find a buyer will reach 10,829 in 2016, a 24% rise from the end of last year. That s the highest figure since the researcher started collating the data in 2009. The number of completed unsold homes will jump to 779 units from 285, the data shows. (Source: Bloomberg) UK factory output surges on repair and maintenance UK manufacturing surged the most in 5 months in September, led by repair and maintenance of transport equipment including ships and machinery. Factory output rose 0.6%, exceeding forecasts for a 0.4% increase. Total industrial production dropped 0.4%, as continued maintenance at North Sea oilfields dragged oil and gas extraction down 4.5%. The ONS also revised its estimate for 3Q industrial output to a larger 0.5% decline, compared with 0.4% in last month s GDP data. That report also showed the economy grew a better-than-expected 0.5% in the quarter, led by the services sector. (Source: Bloomberg) German industrial output down in September German industrial production fell at its fastest rate in more than 2 years in September while the trade surplus shrank, data showed, denting expectations of a strong end to the year for Europe s biggest economy. Industrial output dropped a biggerthan-expected 1.8% on the month. That was the biggest drop since August 2014. For the 3Q, output edged up 0.3% from the second, driven by a 0.95 increase in construction. High order levels in construction and improved sentiment indicators point to a certain revival in the manufacturing sector in the coming months. (Source: Reuters) OPEC raises oil-demand forecast on outlook for cheaper crude OPEC raised its forecast for global oil demand next year and through the end of the decade, anticipating that cheaper crude will spur consumption even as economic growth slows. Demand will reach 95.3m barrels a day in 2017. That s an increase of 300,000 barrels a day from last year s forecast. The OPEC also raised its outlook for oil use in 2018, 2019 and 2020, when it sees demand reaching 98.3m barrels a day, or 900,000 more than the group projected in its previous annual outlook. OPEC cut its estimates for crude prices by US$20 a barrel for each year from 2016 to 2020, compared with its previous outlook. The group assumes crude will average US$40 a barrel in 2016, and it raised its projected price by US$5 a barrel in each of the following years through 2020. Brent has averaged about US$44 a barrel so far this year. (Source: Bloomberg) www.bimbsec.com.my 4
ECONOMIC CALENDAR Date Time Country Event Survey Actual Prior Revised 11/09/2016 01:27 EG Gross Official Reserves Oct -- 19.1b 19.6b -- 11/09/2016 04:29 CR Money Supply M3 YoY Oct -- 13.42% 12.96% 14.23% 11/09/2016 04:31 EL CPI MoM Oct -- 0.30% -0.30% -- 11/09/2016 04:32 EL CPI YoY Oct -- -0.90% 1.00% -- 11/09/2016 05:45 NZ Card Spending Retail MoM Oct 0.40% 0.60% 1.90% 2.00% 11/09/2016 05:45 NZ Card Spending Total MoM Oct -- 0.60% 2.00% 2.10% 11/09/2016 07:00 SK Unemployment rate SA Oct 4.00% 3.70% 4.00% -- 11/09/2016 07:30 AU Westpac Consumer Conf Index Nov -- 101.3 102.4 -- 11/09/2016 07:30 AU Westpac Consumer Conf SA MoM Nov -- -1.10% 1.10% -- 11/09/2016 07:50 JN BoP Current Account Balance Sep 2020.0b -- 2000.8b -- 11/09/2016 07:50 JN BoP Current Account Adjusted Sep 1630.0b -- 1975.7b -- 11/09/2016 07:50 JN Trade Balance BoP Basis Sep 668.8b -- 243.2b -- 11/09/2016 07:50 JN Bank Lending Incl Trusts YoY Oct 2.20% -- 2.20% -- 11/09/2016 07:50 JN Bank Lending Ex-Trusts YoY Oct -- -- 2.20% -- 11/09/2016 09:30 CH CPI YoY Oct 2.10% -- 1.90% -- 11/09/2016 09:30 CH PPI YoY Oct 0.90% -- 0.10% -- 11/09/2016 12:15 UE Dubai Economy Tracker SA Oct -- -- 55.1 -- 11/09/2016 12:30 JN Bankruptcies YoY Oct -- -- -3.41% -- 11/09/2016 13:00 JN Eco Watchers Survey Current Oct 44.4 -- 44.8 -- 11/09/2016 13:00 JN Eco Watchers Survey Outlook Oct 47.8 -- 48.5 -- 11/09/2016 13:30 NE Manufacturing Production MoM Sep -- -- -0.90% -- 11/09/2016 13:30 NE Manufacturing Production YoY Sep -- -- 2.20% -- 11/09/2016 13:30 NE Industrial Sales YoY Sep -- -- 0.10% -- 11/09/2016 14:00 ES Trade Balance Sep -- -- -79.7m -- 11/09/2016 14:00 ES Imports YoY Sep -- -- 8% -- 11/09/2016 14:00 ES Exports YoY Sep -- -- 12% -- 11/09/2016 15:00 TH BoT Benchmark Interest Rate 9-Nov 1.50% -- 1.50% -- 11/09/2016 15:00 RO Trade Balance Sep -- -- -1016.1 -- 11/09/2016 15:30 FR Bank of France Bus. Sentiment Oct 99 -- 98 -- 11/09/2016 16:00 DE Current Account (Seasonally Adjusted) Sep 13.0b -- 12.0b -- 11/09/2016 16:00 DE Trade Balance ex Ships Sep 5.8b -- 5.2b -- 11/09/2016 16:00 SO Trade Balance Sep -- -- 216.1m -- 11/09/2016 16:00 HU Trade Balance Sep P 1000m -- 591m -- 11/09/2016 16:00 CZ CPI MoM Oct 0.20% -- -0.20% -- 11/09/2016 16:00 SI Automobile COE Open Bid Cat A 9-Nov -- -- 50991 -- 11/09/2016 16:00 CZ CPI YoY Oct 0.60% -- 0.50% -- 11/09/2016 16:00 SI Automobile COE Open Bid Cat B 9-Nov -- -- 56410 -- 11/09/2016 16:00 SI Automobile COE Open Bid Cat E 9-Nov -- -- 56340 -- 11/09/2016 17:00 BP Trade Balance Sep -- -- -0.5b -- 11/09/2016 17:00 LN Trade Balance Sep -- -- -0.14b -- 11/09/2016 17:00 LN CPI MoM Oct 0.70% -- 0.60% -- 11/09/2016 17:00 LN CPI YoY Oct 0.90% -- 0.80% -- 11/09/2016 17:30 UK Visible Trade Balance GBP/Mn Sep - 11363 -- - 12112 -- 11/09/2016 17:30 UK Trade Balance Non EU GBP/Mn Sep - 3450 -- - 3756 -- 11/09/2016 17:30 UK Trade Balance Sep - 3950 -- - 4733 -- 11/09/2016 17:30 SA SACCI Business Confidence Oct -- -- 90.3 -- 11/09/2016 17:30 SV Trade Balance Sep -- -- -0.009b -- 11/09/2016 18:00 GR Industrial Production YoY Sep -- -- -0.30% -- 11/09/2016 18:00 HU Budget Balance YTD Oct -- -- -2.4b -- 11/09/2016 19:00 LV Trade Balance Sep -- -- -177.0m -- 11/09/2016 19:00 PO Trade Balance Sep -- -- -1160m -- Source: Bloomberg, BIMB Securities www.bimbsec.com.my 5
Stocks Closing Price PIVOT POINT ANALYSIS Pivot S3 S2 S1 Point R1 R2 R3 Est. Weighting. FBMKLCI Index 1663.82 1647.59 1650.30 1658.41 1661.12 1669.23 1671.94 1680.05 n.a. FBM Hijrah Shariah 13702.86 13611.56 13628.61 13672.43 13689.48 13733.30 13750.35 13794.17 n.a. Autos APM Automotive 3.420 3.315 3.333 3.385 3.403 3.455 3.473 3.525 0.232% Delloyd Ventures n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% MBM Resources 2.600 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.35% Tan Chong 1.900 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.431% UMW 5.600 5.330 5.420 5.510 5.600 5.690 5.780 5.870 2.271% Building Materials Ann Joo Resource 2.060 1.925 1.978 2.015 2.068 2.105 2.158 2.195 0.358% Alum Co of Malay 0.960 0.945 0.948 0.955 0.958 0.965 0.968 0.975 0.045% Choo Bee Metal 1.850 1.790 1.800 1.830 1.840 1.870 1.880 1.910 0.070% CSC Steel 2.080 1.915 1.943 2.025 2.053 2.135 2.163 2.245 0.266% Eksons Corp 0.955 0.933 0.944 0.948 0.959 0.963 0.974 0.978 0.053% Engtex Group 1.240 1.195 1.203 1.225 1.233 1.255 1.263 1.285 0.133% Goh Ban Huat 1.420 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.092% Hiap Teck 0.310 0.295 0.298 0.305 0.308 0.315 0.318 0.325 0.138% Jaks Resources 1.030 1.015 1.018 1.025 1.028 1.035 1.038 1.045 0.157% Java 0.080 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.005% Kim Hin Ind 1.640 1.625 1.628 1.635 1.638 1.645 1.648 1.655 0.080% Kinsteel 0.045 0.038 0.039 0.043 0.044 0.048 0.049 0.053 0.016% Lafarge M Cement 7.910 7.730 7.770 7.850 7.890 7.970 8.010 8.090 2.333% Lion Corp 0.005 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.002% Lion Industries 0.400 0.378 0.386 0.393 0.401 0.408 0.416 0.423 0.096% Malaysia Smelting 3.740 3.680 3.705 3.720 3.745 3.760 3.785 3.800 0.130% Masteel 0.840 0.788 0.814 0.823 0.849 0.858 0.884 0.893 0.071% Melewar Ind 0.610 0.588 0.596 0.603 0.611 0.618 0.626 0.633 0.048% MTD ACPI 0.355 0.318 0.324 0.343 0.349 0.368 0.374 0.393 0.029% Pantech 0.545 0.538 0.541 0.543 0.546 0.548 0.551 0.553 0.116% Perwaja 0.070 0.070 0.070 0.070 0.070 0.070 0.070 0.070 0.014% Press Metal 1.650 1.530 1.570 1.610 1.650 1.690 1.730 1.770 2.113% Southern Steel 1.230 1.185 1.203 1.215 1.233 1.245 1.263 1.275 0.180% Tasek 13.820 13.640 13.730 13.760 13.850 13.880 13.970 14.000 0.581% Tong Herr 1.990 1.990 1.990 1.990 1.990 1.990 1.990 1.990 0.107% Conglomerates Cahya Mata Sarawak 3.680 3.590 3.620 3.650 3.680 3.710 3.740 3.770 1.373% Lion Diversified 0.025 0.018 0.021 0.023 0.026 0.028 0.031 0.033 0.012% Hap Seng Cons 7.800 7.695 7.718 7.765 7.788 7.835 7.858 7.905 6.742% MMC 2.370 2.265 2.283 2.335 2.353 2.405 2.423 2.475 2.51% Sime Darby 8.310 8.175 8.208 8.265 8.298 8.355 8.388 8.445 19.167% YTL Corp 1.590 1.515 1.533 1.565 1.583 1.615 1.633 1.665 5.811% Construction AZRB 0.625 0.618 0.619 0.623 0.624 0.628 0.629 0.633 0.105% Ekovest 2.250 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.668% Fajar Baru 0.575 0.545 0.560 0.565 0.580 0.585 0.600 0.605 0.072% Favelle Favco 2.370 2.310 2.325 2.350 2.365 2.390 2.405 2.430 0.182% Gamuda 4.900 4.810 4.835 4.870 4.895 4.930 4.955 4.990 4.121% Hock Seng Lee 1.730 1.700 1.705 1.720 1.725 1.740 1.745 1.760 0.330% IJM Corp 3.270 3.225 3.243 3.255 3.273 3.285 3.303 3.315 4.090% Kimlun 2.220 2.160 2.185 2.200 2.225 2.240 2.265 2.280 0.239% KKB Engineer 1.380 1.350 1.365 1.370 1.385 1.390 1.405 1.410 0.124% MRCB 1.320 1.275 1.298 1.305 1.328 1.335 1.358 1.365 0.983% www.bimbsec.com.my 6
Stocks Closing Price S3 S2 S1 Pivot Point R1 R2 R3 Est. Weighting Mudajaya 0.945 0.923 0.926 0.938 0.941 0.953 0.956 0.968 0.18% Muhibbah 2.230 2.155 2.188 2.205 2.238 2.255 2.288 2.305 0.37% Naim Hold 1.420 1.360 1.390 1.400 1.430 1.440 1.470 1.480 0.12% Sunway Hldgs 3.010 2.935 2.968 2.985 3.018 3.035 3.068 3.085 2.126% TRC Synergy 0.425 0.410 0.415 0.420 0.425 0.430 0.435 0.440 0.071% TSR Capital 0.460 0.430 0.445 0.450 0.465 0.470 0.485 0.490 0.028% Zelan 0.155 0.148 0.151 0.153 0.156 0.158 0.161 0.163 0.045% Consumer/Retail Aeon Co (M) 2.850 2.820 2.825 2.840 2.845 2.860 2.865 2.880 1.389% Ajinomoto 13.420 13.390 13.395 13.410 13.415 13.430 13.435 13.450 0.283% Apollo Food 6.000 6.000 6.000 6.000 6.000 6.000 6.000 6.000 0.167% Bonia 0.605 0.598 0.599 0.603 0.604 0.608 0.609 0.613 0.169% CI Holdings 2.520 2.520 2.520 2.520 2.520 2.520 2.520 2.520 0.142% Cocoaland 2.010 2.010 2.010 2.010 2.010 2.010 2.010 2.010 0.160% Dutch Lady 58.700 58.070 58.175 58.490 58.595 58.910 59.015 59.330 1.304% Guan Chong 1.160 1.115 1.128 1.145 1.158 1.175 1.188 1.205 0.192% Hai-O Ent 3.860 3.785 3.808 3.835 3.858 3.885 3.908 3.935 0.259% Hovid 0.375 0.368 0.369 0.373 0.374 0.378 0.379 0.383 0.106% Hup seng Inds 1.230 1.215 1.218 1.225 1.228 1.235 1.238 1.245 0.342% K-Star Sports 0.085 0.048 0.066 0.073 0.091 0.098 0.116 0.123 0.008% Multi Sports n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Padini 2.880 2.805 2.823 2.855 2.873 2.905 2.923 2.955 0.658% Parkson Holdings 0.755 0.740 0.743 0.750 0.753 0.760 0.763 0.770 0.282% Pelikan International 0.895 0.888 0.891 0.893 0.896 0.898 0.901 0.903 0.170% Poh Kong 0.470 0.470 0.470 0.470 0.470 0.470 0.470 0.470 0.067% QL Resources 4.450 4.360 4.380 4.420 4.440 4.480 4.500 4.540 1.928% Silver Bird n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Three-A Resource 1.250 1.220 1.230 1.240 1.250 1.260 1.270 1.280 0.171% Xingquan Int l 0.090 0.090 0.090 0.090 0.090 0.090 0.090 0.090 0.018% Yee Lee Corp 2.310 2.265 2.273 2.295 2.303 2.325 2.333 2.355 0.151% Zhulian 1.350 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.216% Education HELP Int l n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Masterskill n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% SEG Int l 1.110 1.080 1.090 1.100 1.110 1.120 1.130 1.140 0.278% Finance BIMB Hold. 4.300 4.210 4.250 4.270 4.310 4.330 4.370 4.390 2.372% Syarikat Takaful 4.250 4.160 4.175 4.220 4.235 4.280 4.295 4.340 1.211% Healthcare Apex Healthcare 4.600 4.525 4.538 4.575 4.588 4.625 4.638 4.675 0.187% CCM Duopharma 2.150 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.208% KPJ Healthcare 4.200 4.170 4.180 4.190 4.200 4.210 4.220 4.230 1.527% Faber Group n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Manufacturing CBIP 1.990 1.945 1.953 1.975 1.983 2.005 2.013 2.035 0.362% Chin Well 1.670 1.625 1.643 1.655 1.673 1.685 1.703 1.715 0.174% Daibochi Plastic 2.220 2.190 2.195 2.210 2.215 2.230 2.235 2.250 0.210% Evergreen Fibre 1.040 0.965 0.998 1.015 1.048 1.065 1.098 1.115 0.306% George Kent 2.680 2.575 2.613 2.645 2.683 2.715 2.753 2.785 0.349% Guh Holdings 0.875 0.845 0.860 0.865 0.880 0.885 0.900 0.905 0.080% Hil Industries 0.850 0.850 0.850 0.850 0.850 0.850 0.850 0.850 0.082% Hong Leong Ind 9.650 9.305 9.473 9.535 9.703 9.765 9.933 9.995 1.070% www.bimbsec.com.my 7
Stocks Closing Price S3 S2 S1 Pivot Point R1 R2 R3 Est. Weighting KYM Hldgs 0.335 0.305 0.310 0.325 0.330 0.345 0.350 0.365 0.017% MWE Hold 1.250 1.220 1.225 1.240 1.245 1.260 1.265 1.280 0.100% Muda Hold 1.680 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.178% NTPM Hold. 0.840 0.825 0.830 0.835 0.840 0.845 0.850 0.855 0.328% Nylex Malaysia 0.590 0.568 0.576 0.583 0.591 0.598 0.606 0.613 0.039% Perstima 6.850 6.565 6.613 6.755 6.803 6.945 6.993 7.135 0.236% Scientex 6.660 6.555 6.578 6.625 6.648 6.695 6.718 6.765 1.066% Sino Hua-an 0.025 0.025 0.025 0.025 0.025 0.025 0.025 0.025 0.010% SLP Resources 2.330 2.225 2.278 2.295 2.348 2.365 2.418 2.435 0.200% Wellcall 1.910 1.910 1.910 1.910 1.910 1.910 1.910 1.910 0.220% Media Media Chinese 0.685 0.685 0.685 0.685 0.685 0.685 0.685 0.685 0.401% Star Publication 2.470 2.440 2.455 2.460 2.475 2.480 2.495 2.500 0.633% Utusan Melayu 0.400 0.400 0.400 0.400 0.400 0.400 0.400 0.400 0.015% Oil & Gas Alam Maritim 0.220 0.205 0.213 0.215 0.223 0.225 0.233 0.235 0.071% Daya Materials 0.055 0.048 0.051 0.053 0.056 0.058 0.061 0.063 0.035% Dayang Ent. 0.780 0.758 0.769 0.773 0.784 0.788 0.799 0.803 0.237% Deleum 0.975 0.938 0.951 0.963 0.976 0.988 1.001 1.013 0.135% Dialog group 1.520 1.490 1.500 1.510 1.520 1.530 1.540 1.550 2.809% ESSO Malaysia 4.190 4.100 4.115 4.160 4.175 4.220 4.235 4.280 0.393% KNM Group 0.395 0.380 0.388 0.390 0.398 0.400 0.408 0.410 0.292% MMHE 0.990 0.975 0.978 0.985 0.988 0.995 0.998 1.005 0.550% Perisai Petroleum 0.045 0.030 0.038 0.040 0.048 0.050 0.058 0.060 0.020% Petra Energy 0.960 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.107% Pet Chem 6.950 6.770 6.810 6.890 6.930 7.010 7.050 7.130 19.303% Pet Dag 23.360 23.060 23.180 23.260 23.380 23.460 23.580 23.660 8.057% Pet Gas 22.020 21.750 21.875 21.930 22.055 22.110 22.235 22.290 15.127% Ramunia Hold 0.145 0.130 0.135 0.140 0.145 0.150 0.155 0.160 0.056% SAAG Cons. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Sapurakencana 1.560 1.530 1.535 1.550 1.555 1.570 1.575 1.590 3.245% Scomi Eng 0.175 0.168 0.169 0.173 0.174 0.178 0.179 0.183 0.021% Scomi Group 0.110 0.103 0.106 0.108 0.111 0.113 0.116 0.118 0.073% Shell Refining 3.050 3.020 3.035 3.040 3.055 3.060 3.075 3.080 0.318% Tanjung Offshore 0.315 0.285 0.290 0.305 0.310 0.325 0.330 0.345 0.042% Wah Seong 0.870 0.855 0.863 0.865 0.873 0.875 0.883 0.885 0.233% Petra Perdana n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Plantation Batu Kawan 18.320 18.290 18.295 18.310 18.315 18.330 18.335 18.350 2.577% BLD Plantation 8.510 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.276% Cepat Wawasan 0.805 0.798 0.801 0.803 0.806 0.808 0.811 0.813 0.086% Genting Plant 10.600 10.330 10.435 10.510 10.615 10.690 10.795 10.870 2.919% Golden Land 0.610 0.603 0.606 0.608 0.611 0.613 0.616 0.618 0.046% Gopeng 1.380 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.086% Hap Seng Plant 2.400 2.400 2.400 2.400 2.400 2.400 2.400 2.400 0.666% IJM Plant. 3.500 3.485 3.488 3.495 3.498 3.505 3.508 3.515 1.070% Inch Ken Kajang 0.690 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.097% IOI 4.450 4.360 4.375 4.420 4.435 4.480 4.495 4.540 9.715% Keck Seng Malay 4.760 4.595 4.668 4.705 4.778 4.815 4.888 4.925 0.594% Kim Loong 3.290 3.275 3.283 3.285 3.293 3.295 3.303 3.305 0.355% Kretam Holdings 0.535 0.513 0.516 0.528 0.531 0.543 0.546 0.558 0.365% KLK 23.860 23.470 23.645 23.730 23.905 23.990 24.165 24.250 8.822% Kulim Malaysia n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Rimbunan Sawit 0.495 0.480 0.488 0.490 0.498 0.500 0.508 0.510 0.244% www.bimbsec.com.my 8
Stocks Closing Price S3 S2 S1 Pivot Point R1 R2 R3 Est. Weighting Riverview Rubber 3.580 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.081% Sarawak Plant 1.750 1.750 1.750 1.750 1.750 1.750 1.750 1.750 0.170% TDM 0.670 0.648 0.659 0.663 0.674 0.678 0.689 0.693 0.350% TH Plant 1.100 1.085 1.093 1.095 1.103 1.105 1.113 1.115 0.338% Tradewinds Plant n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% United Plant 27.480 27.330 27.405 27.430 27.505 27.530 27.605 27.630 1.982% Power TNB 14.320 14.110 14.215 14.250 14.355 14.390 14.495 14.530 28.058% YTL Power 1.450 1.420 1.425 1.440 1.445 1.460 1.465 1.480 3.906% Property A & M Realty 1.050 1.050 1.050 1.050 1.050 1.050 1.050 1.050 0.133% Am Corp Prop. 0.785 0.733 0.741 0.768 0.776 0.803 0.811 0.838 0.162% Symphony Life Bh 0.665 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.071% Crescendo Corp 1.470 1.440 1.455 1.460 1.475 1.480 1.495 1.500 0.116% Daiman Develop 2.240 2.225 2.228 2.235 2.238 2.245 2.248 2.255 0.164% Damansara Realty 0.635 0.620 0.623 0.630 0.633 0.640 0.643 0.650 0.068% Dijaya n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Dutaland 0.400 0.355 0.370 0.385 0.400 0.415 0.430 0.445 0.118% E&O 1.580 1.505 1.518 1.555 1.568 1.605 1.618 1.655 0.690% Global Oriental 0.315 0.315 0.315 0.315 0.315 0.315 0.315 0.315 0.050% Glomac 0.765 0.758 0.761 0.763 0.766 0.768 0.771 0.773 0.192% Hunza Properties n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% IJM Land n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Ivory Properties 0.470 0.455 0.463 0.465 0.473 0.475 0.483 0.485 0.080% KLCC Property n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% KSL Hold. 1.120 1.105 1.108 1.115 1.118 1.125 1.128 1.135 0.400% Kump Hartanah n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Kump Perangsang 1.250 1.175 1.203 1.225 1.253 1.275 1.303 1.325 0.217% LBS Bina Group 1.710 1.680 1.690 1.700 1.710 1.720 1.730 1.740 0.380% Magna Prima 0.990 0.990 0.990 0.990 0.990 0.990 0.990 0.990 0.114% Mah Sing 1.530 1.500 1.505 1.520 1.525 1.540 1.545 1.560 1.280% Malton 0.675 0.653 0.659 0.668 0.674 0.683 0.689 0.698 0.105% MK Land 0.295 0.288 0.291 0.293 0.296 0.298 0.301 0.303 0.123% Nadayu n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Plenitude 1.750 1.675 1.688 1.725 1.738 1.775 1.788 1.825 0.232% Selangor Prop 4.800 4.650 4.675 4.750 4.775 4.850 4.875 4.950 0.573% Selangor Dredging 0.845 0.823 0.834 0.838 0.849 0.853 0.864 0.868 0.125% SP Setia 3.280 3.115 3.178 3.225 3.288 3.335 3.398 3.445 3.210% Sunway 3.010 2.935 2.968 2.985 3.018 3.035 3.068 3.085 2.126% Suria Capital 2.080 2.020 2.030 2.060 2.070 2.100 2.110 2.140 0.208% Talam Corp n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Tebrau Teguh n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% UEM Land n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% WCT n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Wing Tai 1.090 1.060 1.075 1.080 1.095 1.100 1.115 1.120 0.180% YNH Property 1.580 1.550 1.555 1.570 1.575 1.590 1.595 1.610 0.288% YTL Land & Dev 0.590 0.583 0.584 0.588 0.589 0.593 0.594 0.598 0.170% Rubber Glove Adventa 0.770 0.673 0.694 0.738 0.759 0.803 0.824 0.868 0.041% Hartalega 4.780 4.645 4.698 4.735 4.788 4.825 4.878 4.915 2.724% Kossan 6.870 6.615 6.658 6.785 6.828 6.955 6.998 7.125 1.525% Latexx Partners n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Rubberex 0.800 0.793 0.794 0.798 0.799 0.803 0.804 0.808 0.064% Supermax Corp 2.190 2.070 2.090 2.150 2.170 2.230 2.250 2.310 0.510% www.bimbsec.com.my 9
Stocks Closing Price S3 S2 S1 Pivot Point R1 R2 R3 Est. Weighting Top Glove 4.850 4.790 4.805 4.830 4.845 4.870 4.885 4.910 2.109% Technology Compugates 0.035 0.035 0.035 0.035 0.035 0.035 0.035 0.035 0.026% D&O Green Tech 0.310 0.303 0.304 0.308 0.309 0.313 0.314 0.318 0.106% ETI Tech n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Formis Resources n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Formosa Prosonic 0.810 0.810 0.810 0.810 0.810 0.810 0.810 0.810 0.070% Frontken 0.145 0.138 0.139 0.143 0.144 0.148 0.149 0.153 0.053% Globetronics 3.780 3.705 3.723 3.755 3.773 3.805 3.823 3.855 0.370% JCY Int l 0.525 0.518 0.521 0.523 0.526 0.528 0.531 0.533 0.376% Key Asic 0.100 0.100 0.100 0.100 0.100 0.100 0.100 0.100 0.029% MPI 7.900 7.840 7.865 7.880 7.905 7.920 7.945 7.960 0.546% Notion V-Tec 0.370 0.363 0.366 0.368 0.371 0.373 0.376 0.378 0.034% Panasonic Man 36.120 35.400 35.760 35.880 36.240 36.360 36.720 36.840 0.762% Supportive n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Symphony House n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Uchi Tech 1.810 1.765 1.783 1.795 1.813 1.825 1.843 1.855 0.274% Unisem 2.420 2.270 2.295 2.370 2.395 2.470 2.495 2.570 0.617% VS Industry 1.430 1.385 1.393 1.415 1.423 1.445 1.453 1.475 0.581% Telcos Axiata Group 4.840 4.735 4.758 4.805 4.828 4.875 4.898 4.945 15.075% DiGi.Com 5.040 4.980 4.990 5.020 5.030 5.060 5.070 5.100 13.605% Green Packet 0.225 0.218 0.221 0.223 0.226 0.228 0.231 0.233 0.054% Maxis 5.920 5.680 5.730 5.840 5.890 6.000 6.050 6.160 15.436% Telekom Malaysia 6.510 6.465 6.473 6.495 6.503 6.525 6.533 6.555 8.494% Time Dotcom 8.000 7.940 7.950 7.980 7.990 8.020 8.030 8.060 1.606% Timber Jaya Tiasa 1.370 1.340 1.350 1.360 1.370 1.380 1.390 1.400 0.460% Subur Tiasa 1.480 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.097% WTK 1.060 1.030 1.040 1.050 1.060 1.070 1.080 1.090 0.176% Transport/Logistics Bintulu Port 6.760 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 1.080% Airasia 2.820 2.775 2.783 2.805 2.813 2.835 2.843 2.865 2.725% Century Logistic 0.930 0.915 0.918 0.925 0.928 0.935 0.938 0.945 0.124% Cycle & Carriage 3.060 3.030 3.035 3.050 3.055 3.070 3.075 3.090 0.107% Hubline 0.010 0.003 0.004 0.008 0.009 0.013 0.014 0.018 0.044% Integrated Log. 0.900 0.855 0.873 0.885 0.903 0.915 0.933 0.945 0.054% Integrax n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Konsortium n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Maybulk 0.745 0.730 0.733 0.740 0.743 0.750 0.753 0.760 0.259% MISC 7.210 7.180 7.190 7.200 7.210 7.220 7.230 7.240 11.174% NCB Hold n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Scomi Energy Ser 0.150 0.143 0.146 0.148 0.151 0.153 0.156 0.158 0.122% Water & Infrastructure PBA Hold 1.150 1.135 1.138 1.145 1.148 1.155 1.158 1.165 0.132% Puncak Niaga 1.030 0.955 0.988 1.005 1.038 1.055 1.088 1.105 0.160% Salcon 0.595 0.580 0.585 0.590 0.595 0.600 0.605 0.610 0.133% Taliworks Corp n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Lingkaran Trans 5.900 5.900 5.900 5.900 5.900 5.900 5.900 5.900 1.077% Protasco 1.550 1.460 1.490 1.520 1.550 1.580 1.610 1.640 0.183% www.bimbsec.com.my 10
Stocks Closing Price S3 S2 S1 Pivot Point R1 R2 R3 Est. Weighting Ancom 0.350 0.350 0.350 0.350 0.350 0.350 0.350 0.350 0.026% Asia File 3.800 3.695 3.738 3.765 3.808 3.835 3.878 3.905 0.254% Boustead Heavy 2.040 2.025 2.033 2.035 2.043 2.045 2.053 2.055 0.176% Eden Inc 0.195 0.195 0.195 0.195 0.195 0.195 0.195 0.195 0.021% Fima Corp 2.110 2.095 2.098 2.105 2.108 2.115 2.118 2.125 0.177% Kumpulan FIMA 1.770 1.740 1.745 1.760 1.765 1.780 1.785 1.800 0.173% KUB Malaysia 0.360 0.345 0.353 0.355 0.363 0.365 0.373 0.375 0.070% Pie Industrial 1.710 1.485 1.568 1.635 1.718 1.785 1.868 1.935 0.228% Southern Acids 4.120 4.015 4.053 4.085 4.123 4.155 4.193 4.225 0.196% Mega First 2.280 2.250 2.265 2.270 2.285 2.290 2.305 2.310 0.302% Coastal Contract 1.480 1.465 1.473 1.475 1.483 1.485 1.493 1.495 0.273% Time Engineering n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Sealink Int'l 0.200 0.170 0.175 0.190 0.195 0.210 0.215 0.230 0.035% Shin Yang 0.260 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.108% Jobstreet Corp n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Myeg Services 2.420 2.330 2.350 2.390 2.410 2.450 2.470 2.510 2.017% Pos Malaysia 4.090 3.985 4.003 4.055 4.073 4.125 4.143 4.195 1.112% Picorp 0.140 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.032% Lion Forest 0.480 0.428 0.436 0.463 0.471 0.498 0.506 0.533 0.038% Note: R S Est. Weight = Resistance = Support = Based on FBMah Mkt. Cap www.bimbsec.com.my 11
DEFINITION OF RATINGS BIMB Securities uses the following rating system: STOCK RECOMMENDATION BUY Total return (price appreciation plus dividend yield) is expected to exceed 10% in the next 12 months. TRADING BUY Share price may exceed 15% over the next 3 months, however longer-term outlook remains uncertain. HOLD Share price may fall within the range of +/- 10% over the next 12 months TAKE PROFIT Target price has been attained. Fundamentals remain intact. Look to accumulate at lower levels. TRADING SELL Share price may fall by more than 15% in the next 3 months. SELL Share price may fall by more than 10% over the next 12 months. NOT RATED Stock is not within regular research coverage. SECTOR RECOMMENDATION OVERWEIGHT The Industry as defined by the analyst s coverage universe, is expected to outperform the relevant primary market index over the next 12 months NEUTRAL The Industry as defined by the analyst s coverage universe, is expected to perform in line with the relevant primary market index over the next 12 months UNDERWEIGHT The Industry as defined by the analyst s coverage universe, is expected to underperform the relevant primary market index over the next 12 months Applicability of ratings The respective analyst maintains a coverage universe of stocks, the list of which may be adjusted according to needs. Investment ratings are only applicable to the stocks which form part of the coverage universe. Reports on companies which are not part of the coverage do not carry investment ratings as we do not actively follow developments in these companies. Disclaimer The investments discussed or recommended in this report may not be suitable for all investors. This report has been prepared for information purposes only and is not an offer to sell or a solicitation to buy any securities. The directors and employees of BIMB Securities Sdn may from time to time have a position in or either the securities mentioned herein. Members of the BIMB Group and their affiliates may provide services to any company and affiliates of such companies whose securities are mentioned herein. The information herein was obtained or derived from sources that we believe are reliable, but while all reasonable care has been taken to ensure that stated facts are accurate and opinions fair and reasonable, we do not represent that it is accurate or complete and it should not be relied upon as such. No liability can be accepted for any loss that may arise from the use of this report. All opinions and estimates included in this report constitute our judgements as of this date and are subject to change without notice. BIMB Securities Sdn accepts no liability for any direct, indirect or consequential loss arising from use of this report. Published by BIMB SECURITIES SB (290163-X) A Participating Organisation of Bursa Malaysia Securities Level 32, Menara Multi Purpose, Capital Square, No. 8 Jalan Munshi Abdullah, 50100 Kuala Lumpur Tel: 03-2613 1600 Fax: 03-2613 1799 http://www.bimbsec.com.my Azharuddin Nordin Head of Research www.bimbsec.com.my 12