Market Insight. Thursday, 26 May, 2016

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 Market Insight Thursday, 26 May, 2016 16795/03/2013(031743) www.bisonline.com.my Major Highlights Axiata Q1 earnings off to slow start at RM368.3m Telekom Malaysia Q1 earnings up 150% to RM322m UMW Toyota Motors investing RM2bn in plant for EEV units Barakah consortium bags RM84.1m Rapid contract Petronas clarifies reports on sale of assets and stake Sime Darby Q3 earnings up 60% to RM663m Internal funds to finance UMW s new RM2bn vehicle manufacturing plant Heavy industries unit pulls down Boustead s results Bursa Malaysia Bursa Malaysia Close Change +/- Change % FBMKLCI 1,630.96 5.12 0.31 FBMEMAS 11,412.03 17.82 0.16 FBM100 11,106.64 22.76 0.21 FBMEMAS Shariah 11,948.76 19.36 0.16 FBM Hijrah Shariah 13,347.88 34.08 0.26 Volume (mn) 1,733.24 3.85 0.22 Value (RMmn) 1,810.63 24.92 1.40 FBMKLCI YTD Chg -3.64 Scoreboard Close Change+/- (+/- %) Gainers 303-31 -9.28 Losers 509 59 13.11 Unchanged 360-20 -5.26 Regional Indices Close Change (+/-) Change (+/- %) YTD Chg (%) DJIA 17,851.51 145.46 0.82 2.45 NASDAQ 4,894.89 33.84 0.70-2.25 S&P 500 2,090.54 14.48 0.70 2.28 FTSE 100 6,262.85 43.59 0.70 0.33 Nikkei 225 16,757.35 258.59 1.57-11.96 HSI 20,368.05 537.62 2.71-7.06 SHCOMP 2,815.09-6.58-0.23-20.46 KOSPI 1,960.51 22.83 1.18-0.04 TWSE 8,396.20 95.54 1.15 0.70 STI 2,766.66 16.43 0.60-4.03 JCI 4,772.98 62.19 1.32 3.92 SET 1,397.63 13.37 0.97 8.51 PSEi 7,463.95 107.23 1.46 7.36 Market Valuation (PER) FY16 FY17 5Y Average FBMKLCI 14.79 13.73 15.71 SHCOMP 12.87 11.35 11.08 HSI 11.07 10.06 11.05 JCI 15.15 13.15 15.23 SET 14.99 13.17 13.71 STI 12.46 11.90 13.91 PSEi 19.07 17.24 17.40 The Research Team bimbresearch@bimbsec.com.my 03-26131735 Local & Global Economic News Malaysian palm oil price gains for 2 nd straight session out pacing stronger ringgit Fed survey lays bare US economic divide US states stung by drop in April income tax revenue ECB credit buying to start small, betting on issue boom Thailand's Vehicle Production Up 11.5% In April BSI Singapore shutdown a wake-up call for private banks in Asia KLCI Performance 1900 1850 1800 1750 1700 1650 1600 1550 1500 KLCI Year-End Target: 1,780 points Sector Indices Close Change+/- (+/- %) Industrial 3,084.31 19.34 0.63 Consumer 584.68-0.89-0.15 Industrial Products 139.84 0.49 0.35 Construction 284.99-0.27-0.09 Finance 14,243.39 55.31 0.39 Property 1,146.33-2.07-0.18 Plantation 7,465.75 12.28 0.16 Technology 21.37 0.10 0.47 KLCI Futures Contracts May-16 Jun-16 High 1,633.50 1,630.00 Low 1,625.50 1,623.00 Last 1,631.00 1,628.00 Volume 7,830.00 3,220.00 Commodities (Most Recent Close) Close Change +/- (+/- %) % Brent Crude (USD/bbl) 49.74 1.13 2.32 WTI Crude (USD/bbl) 49.56 0.07 0.14 Gold (USD/ounce) 1,224.47-2.15-0.18 CPO (RM/MT) 2,545.00 43.00 1.72 SMR 20 (sen/kg) 505.50 14.50 2.95 Latex (sen/kg) 463.50-4.00-0.86 Soybean Oil 31.34 0.45 1.46 Forex (per USD1) Close Change +/- Change % MYR 4.1035 0.0210 0.51 JPY 110.1900 0.2000 0.18 EUR 0.8965-0.0011-0.12 SGD 1.3783-0.0033-0.24 www.bimbsec.com.my BIMB Securities 1

Major Rates KLIBOR 3-mth 3.67% KLIBOR 6-mth 3.79% KLIBOR 12-mth 3.87% 5-yr MGS 3.49% 10-yr MGS 3.92% Active Stock Close Change+/- (+/- %) Airasia X 0.39-0.02-3.75 Vivocom 0.29-0.02-6.45 China Automobile 0.05-0.01-9.09 Netx 0.04 0.00 0.00 Airasia 2.22-0.06-2.59 Daily Participation Participation (%) Bought (RMm) Sold (RMm) Net (RMm) Local Institution 55.7 1105.0 910.8 194.2 Local Retail 18.6 359.1 314.4 44.7 Foreign 25.7 346.6 585.5-238.9 Total 100.0 1,810.7 1,810.7 0.0 Top Gainers Close Change+/- (+/- %) Nestle 76.00 0.48 0.64 Petronas Gas 21.52 0.34 1.61 Heineken 15.02 0.28 1.90 British American 50.06 0.26 0.52 Globetronics 3.61 0.26 7.76 Top Losers Close Change+/- (+/- %) Petron Refining & M 4.47-0.76-14.53 Ajinomoto 12.78-0.50-3.77 Dutch Lady 55.06-0.44-0.79 Latitude Tree Holdings 5.33-0.40-6.98 Tahps 6.23-0.27-4.15 www.bimbsec.com.my 2

LOCAL CORPORATE NEWS Axiata Q1 earnings off to slow start at RM368.3m Axiata Group saw 37% lower earnings at RM368.3m for the Q1 ended March 31, 2016, on the back of stiff competition for Celcom in the postpaid and overseas foreign workers (OFW) segments. Its performance was also impacted by higher depreciation and amortisation charges, higher net finance costs and lower share of profit from associates, despite higher earnings before interest, tax, depreciation and amortisation (Ebitda). (Source: StarBiz) Telekom Malaysia Q1 earnings up 150% to RM322m Telekom earnings for its Q1 surged 150% to RM322.43m versus RM128.91m a year ago. The revenue grew 2.9% on-year to RM2.85bn from RM2.77bn, driven mainly by higher contribution from Internet services revenue. EPS were 8.58 sen compared with 3.47 sen previously. Elaborating on the financial results, group operating profit (EBIT) for Q1 grew 15% onyear to RM279.9m compared to RM243.4m a year earlier due to higher revenue and better cost management. (Source: StarBiz) UMW Toyota Motors investing RM2bn in plant for EEV units UMW Toyota Motors SB is investing RM2bn for the construction of a new assembly and manufacturing plant in Klang which is set to commence operations in 2019. The new plant which encompasses 670,000 square metres will be situated in Bukit Raja, Klang. It will have an initial production volume of 50,000 vehicles and will primarily be focused on passenger cars and energy efficient vehicles (EEV). Combined, the new plant and the group's existing plant in Shah Alam will have a total production capacity of between 90,000 and 100,000 vehicles per annum. (Source: StarBiz) Barakah consortium bags RM84.1m Rapid contract Barakah Offshore Petroleum unit, PBJV Group SB, in consortium with Macfeam SB, has received a LoA from PRPC Utilities and Facilities SB for a contract worth RM84.1m. The contract entailed the procurement, construction and commissioning of underground pressurised non-metallic piping firewater network for the east side of utilities, interconnecting, offsite facilities in the Petronas Refinery and Petrochemical Integrated Development project. The work would be carried out and completed in 20 months from April this year (Source: StarBiz) Petronas clarifies reports on sale of assets and stake Petronas) has clarified that it has not been and is not in any discussions with any Russian party over the purported sale of specific assets and stakes. The national oil company said on Wednesday there was a number of recent press reports originating from Russia on the purported discussions. It issued the statement to clarify the reports. (Source: StarBiz) Sime Darby Q3 earnings up 60% to RM663m Sime Darby earnings jumped 60% to RM663.5m in the Q3 ended March 31, 2016, boosted by its asset monetisation exercise. The earnings were higher than the RM414.61m a year ago. Its pre-tax profit rose 26% to RM791.66m from RM630.32m. Its revenue was up 2.4%to RM10.23bn compared with RM9.99bn. EPS were 10.5 sen from 6.68 sen a year ago. (Source: StarBiz) Internal funds to finance UMW s new RM2bn vehicle manufacturing plant The construction of UMW Toyota Motor SB new RM2bn vehicle manufacturing plant in Bukit Raja, Klang, does not require any debt undertaking and will solely be financed by internal funds. The investment would not present any cash-flow issues at the parent-company level. UMW Toyota is a JV company 51% owned by UMW Holdings, while the Toyota Group owns the other 49%. (Source: StarBiz) Heavy industries unit pulls down Boustead s results Boustead slipped into a loss attributable to shareholders of RM21.5m for the Q1 ended March 31, 2016, compared with small earnings of RM100,000 a year earlier. The company only managed a net profit of RM9.5m against RM69.5m in the corresponding period of 2015 despite a RM34.6m gain on disposal of plantation land in the quarter under review (none in Q1 2015). The profits attributable to non-controlling interests and holders of perpetual sukuk were RM12.8m and RM18.2m respectively. (Source: StarBiz) www.bimbsec.com.my 3

LOCAL AND GLOBAL ECONOMIC NEWS Malaysian palm oil price gains for 2nd straight session out pacing stronger ringgit Malaysian palm oil futures rose for a second consecutive day, making their sharpest gains in three weeks and outpacing a stronger ringgit as they track improving rival oils in China. The ringgit, in which palm oil is traded, strengthened 0.5% to reach 4.1010 against the dollar in the evening, making palm more expensive for foreign currency holders. Palm prices had earlier recorded two weeks of losses tracking China's commodities sell-off. (Source: Reuters) Fed survey lays bare US economic divide Almost half of American families say they would struggle to pay for emergency expenses and those with a high school degree or less are most likely to say their well-being has declined. The annual survey, in its 3 rd year, takes the pulse on the financial situation of US families, which has been a key issue ahead of this year's presidential election. It found that Americans with a bachelor's degree or higher were "by far" most likely to say that they are doing OK financially or living comfortably and report an improvement in their finances over the past year. Roughly one third of US adults have achieved at least a bachelor's degree. (Source: Bernama) US states stung by drop in April income tax revenue US state personal income taxes tumbled in the key revenue month of April due to lower investment returns from weaker equities and energy prices in 2015. This April, personal income tax (PIT) revenue fell by an average of 9.88% compared to the same month last year in the 32 US states and Puerto Rico for which Reuters has data. Taxes on wages and investment income are a top revenue source for the 43 states that collect it. April is the most important revenue month because it contains the tax filing deadline and the tendency of taxpayers who owe money to wait until the last minute to pay. (Source: Reuters) ECB credit buying to start small, betting on issue boom The ECB will aim to start small when it begins buying corporate debt in June, seeking first to lure new issuers and then slowly raise the monthly pace of purchases to 5-10bn euros. Investment-grade corporate bonds issued in euros are the latest addition to a growing list of assets the ECB is buying as part of its 1.74trn euro effort (1.33trn pounds) to boost economic growth in the euro zone via lower borrowing costs. The difficulty is that the 600bn euro market for such notes is largely limited to big corporations in France and the Netherlands that already enjoy easy access to credit. (Source: Reuters) Thailand's Vehicle Production Up 11.5 Per Cent In April Thailand's manufacture of vehicles increased 11.5% in April to 138,237 units but overall vehicle production between January and April fell 0.52% to 645,111 units. Last month's domestic vehicle sales improved 1.7% to 54,986 units. This is mainly due to the economic recovery and the effects of the government's stimulus measures. Thailand exported 388,251 vehicles from January to April including engines and spare parts worth 206.637bn Baht (RM1=12.49 Baht) while export value for the four months increased 8.86% YoY. (Source: Bernama) BSI Singapore shutdown a wake-up call for private banks in Asia Singapore's drastic move to shut Swiss bank BSI's operations in the city-state over its dealings with scandal-hit Malaysian fund 1MDB is a wake-up call for wealth managers in Asia, which had been spared the large fines and sanctions seen in the West. The private bank is the first casualty of money-laundering probes in at least 6 jurisdictions into state investor 1Malaysia Development. The Monetary Authority of Singapore (MAS) did not name 1MDB in a statement on Tuesday announcing it was shutting down of BSI's business for serious breaches of anti-money laundering requirements and gross misconduct by some staff. (Source: Reuters) www.bimbsec.com.my 4

ECONOMIC CALENDAR Date Time Country Event Survey Actual Prior Revised 05/26/2016 00:00 FR Total Jobseekers Apr 3535.5k 3511.1k 3531.0k -- 05/26/2016 00:00 FR Jobseekers Net Change Apr 4.5-19.9-60 -- 05/26/2016 02:19 CR Consumer Confidence Index May -- 38.6 39.7 -- 05/26/2016 03:00 BZ Formal Job Creation Total Apr -62500-62844 -118776 -- 05/26/2016 03:58 BI CPI YoY Apr -- 0.10% 0.10% -- 05/26/2016 05:00 SK Consumer Confidence May -- 99 101 -- 05/26/2016 05:32 PN Economic Activity Index NSA YoY Mar -- 3.70% 4.30% -- 05/26/2016 06:14 GU Leading Interest Rate 25-May -- 3.00% 3.00% -- 05/26/2016 07:50 JN PPI Services YoY Apr 0.20% -- 0.20% -- 05/26/2016 07:50 JN Japan Buying Foreign Bonds 20-May -- -- 1121.8b -- 05/26/2016 07:50 JN Japan Buying Foreign Stocks 20-May -- -- - 152.1b -- 05/26/2016 07:50 JN Foreign Buying Japan Bonds 20-May -- -- 348.4b -- 05/26/2016 07:50 JN Foreign Buying Japan Stocks 20-May -- -- 71.7b -- 05/26/2016 09:00 CH Swift Global Payments CNY Apr -- -- 1.88% -- 05/26/2016 09:30 AU Private Capital Expenditure 1Q -3.50% -- 0.80% -- 05/26/2016 13:00 SI Industrial Production SA MoM Apr 1.60% -- 1.00% -- 05/26/2016 13:00 SI Industrial Production YoY Apr -0.20% -- -0.50% -- 05/26/2016 14:00 FI Retail Sales Volume YoY Apr P -- -- 0.90% -- 05/26/2016 15:00 HU Unemployment Rate Apr 5.90% -- 6.00% -- 05/26/2016 15:00 SW Consumer Confidence May 98 -- 97.1 -- 05/26/2016 15:00 SW Manufacturing Confidence s.a. May 108.6 -- 107.9 -- 05/26/2016 15:00 SW Economic Tendency Survey May 105.5 -- 104.6 -- 05/26/2016 15:00 SP GDP QoQ 1Q F 0.80% -- 0.80% -- 05/26/2016 15:00 SP GDP YoY 1Q F 3.40% -- 3.40% -- 05/26/2016 15:15 SZ Industrial Output WDA YoY 1Q -- -- -4.50% -- 05/26/2016 15:15 SZ Industry & Construction Output WDA YoY 1Q -- -- -4.50% -- 05/26/2016 15:30 SW PPI MoM Apr -- -- 0.80% -- 05/26/2016 15:30 SW PPI YoY Apr -- -- -3.70% -- 05/26/2016 15:30 SW Trade Balance Apr 2.5b -- 3.9b -- 05/26/2016 16:00 IT Retail Sales MoM Mar -- -- 0.30% -- 05/26/2016 16:00 IT Retail Sales YoY Mar -- -- 2.70% -- 05/26/2016 16:30 UK BBA Loans for House Purchase Apr 44700 -- 45096 -- 05/26/2016 16:30 HK Exports YoY Apr -7.60% -- -7.00% -- 05/26/2016 16:30 HK Imports YoY Apr -5.50% -- -5.80% -- 05/26/2016 16:30 HK Trade Balance Apr -42.0b -- -47.0b -- 05/26/2016 16:30 UK GDP QoQ 1Q P 0.40% -- 0.40% -- 05/26/2016 16:30 UK GDP YoY 1Q P 2.10% -- 2.10% -- 05/26/2016 16:30 UK Private Consumption QoQ 1Q P 0.50% -- 0.60% -- 05/26/2016 16:30 UK Government Spending QoQ 1Q P 0.40% -- 0.30% -- 05/26/2016 16:30 UK Gross Fixed Capital Formation QoQ 1Q P 0.90% -- -1.10% -- 05/26/2016 16:30 UK Exports QoQ 1Q P 0.10% -- 0.10% -- 05/26/2016 16:30 UK Imports QoQ 1Q P 1.00% -- 0.90% -- 05/26/2016 16:30 UK Index of Services MoM Mar 0.20% -- 0.10% -- 05/26/2016 16:30 UK Index of Services 3M/3M Mar 0.60% -- 0.70% -- 05/26/2016 16:30 UK Total Business Investment QoQ 1Q P -- -- -2.00% -- 05/26/2016 16:30 UK Total Business Investment YoY 1Q P -- -- 3.00% -- 05/26/2016 17:00 IT Hourly Wages MoM Apr -- -- 0.00% -- 05/26/2016 17:00 IT Hourly Wages YoY Apr -- -- 0.80% -- 05/26/2016 17:30 SA PPI MoM Apr 0.90% -- 0.70% -- 05/26/2016 17:30 SA PPI YoY Apr 7.30% -- 7.10% -- 05/26/2016 19:00 UA Key Rate 26-May 19.00% -- 19.00% -- 05/26/2016 20:30 US Initial Jobless Claims 21-May 275k -- 278k -- 05/26/2016 20:30 US Continuing Claims 14-May 2142k -- 2152k -- 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 1630.96 1619.65 1621.62 1627.19 1629.16 1634.73 1636.70 1642.27 n.a. FBM Hijrah Shariah 13347.88 13250.22 13271.61 13315.33 13336.72 13380.44 13401.83 13445.55 n.a. Autos APM Automotive 3.720 3.720 3.720 3.720 3.720 3.720 3.720 3.720 0.259% Delloyd Ventures n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% MBM Resources 2.150 2.105 2.128 2.135 2.158 2.165 2.188 2.195 0.30% Tan Chong 1.990 1.960 1.970 1.980 1.990 2.000 2.010 2.020 0.463% UMW 5.150 4.655 4.873 4.985 5.203 5.315 5.533 5.645 2.144% Building Materials Ann Joo Resource 0.995 0.905 0.948 0.965 1.008 1.025 1.068 1.085 0.177% Alum Co of Malay 0.875 0.875 0.875 0.875 0.875 0.875 0.875 0.875 0.042% Choo Bee Metal 1.520 1.460 1.470 1.500 1.510 1.540 1.550 1.580 0.059% CSC Steel 1.360 1.330 1.340 1.350 1.360 1.370 1.380 1.390 0.179% Eksons Corp 1.140 1.110 1.120 1.130 1.140 1.150 1.160 1.170 0.065% Engtex Group 1.150 1.135 1.138 1.145 1.148 1.155 1.158 1.165 0.124% Goh Ban Huat 1.400 1.400 1.400 1.400 1.400 1.400 1.400 1.400 0.093% Hiap Teck 0.265 0.205 0.223 0.245 0.263 0.285 0.303 0.325 0.067% Jaks Resources 0.880 0.820 0.848 0.860 0.888 0.900 0.928 0.940 0.137% Java 0.085 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.005% Kim Hin Ind 1.940 1.835 1.863 1.905 1.933 1.975 2.003 2.045 0.097% Kinsteel 0.080 0.073 0.076 0.078 0.081 0.083 0.086 0.088 0.030% Lafarge M Cement 8.200 7.900 7.980 8.100 8.180 8.300 8.380 8.500 2.483% Lion Corp 0.040 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.019% Lion Industries 0.345 0.330 0.335 0.340 0.345 0.350 0.355 0.360 0.086% Malaysia Smelting 2.610 2.505 2.558 2.575 2.628 2.645 2.698 2.715 0.093% Masteel 0.560 0.530 0.540 0.550 0.560 0.570 0.580 0.590 0.049% Melewar Ind 0.370 0.325 0.335 0.355 0.365 0.385 0.395 0.415 0.030% MTD ACPI 0.250 0.250 0.250 0.250 0.250 0.250 0.250 0.250 0.021% Pantech 0.575 0.553 0.556 0.568 0.571 0.583 0.586 0.598 0.125% Perwaja 0.105 0.105 0.105 0.105 0.105 0.105 0.105 0.105 0.021% Press Metal 2.890 2.800 2.845 2.860 2.905 2.920 2.965 2.980 1.339% Southern Steel 0.930 0.923 0.926 0.928 0.931 0.933 0.936 0.938 0.139% Tasek 14.800 14.650 14.725 14.750 14.825 14.850 14.925 14.950 0.639% Tong Herr 2.040 1.995 2.008 2.025 2.038 2.055 2.068 2.085 0.091% Conglomerates Cahya Mata Sarawak 3.510 3.345 3.383 3.455 3.493 3.565 3.603 3.675 1.344% Lion Diversified 0.050 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.025% Hap Seng Cons 7.820 7.655 7.683 7.765 7.793 7.875 7.903 7.985 6.340% MMC 2.130 2.085 2.098 2.115 2.128 2.145 2.158 2.175 2.31% Sime Darby 7.490 7.355 7.383 7.445 7.473 7.535 7.563 7.625 16.888% YTL Corp 1.600 1.555 1.568 1.585 1.598 1.615 1.628 1.645 5.941% Construction AZRB 0.715 0.678 0.694 0.703 0.719 0.728 0.744 0.753 0.123% Ekovest 1.580 1.370 1.440 1.510 1.580 1.650 1.720 1.790 0.482% Fajar Baru 0.590 0.583 0.584 0.588 0.589 0.593 0.594 0.598 0.076% Favelle Favco 2.680 2.620 2.640 2.660 2.680 2.700 2.720 2.740 0.210% Gamuda 4.760 4.685 4.698 4.735 4.748 4.785 4.798 4.835 4.094% Hock Seng Lee 1.680 1.620 1.640 1.660 1.680 1.700 1.720 1.740 0.329% IJM Corp 3.480 3.390 3.405 3.450 3.465 3.510 3.525 3.570 4.450% Kimlun 1.770 1.725 1.738 1.755 1.768 1.785 1.798 1.815 0.190% KKB Engineer 1.450 1.420 1.430 1.440 1.450 1.460 1.470 1.480 0.133% MRCB 1.170 1.140 1.150 1.160 1.170 1.180 1.190 1.200 0.787% www.bimbsec.com.my 6

Stocks Closing Price S3 S2 S1 Pivot Point R1 R2 R3 Est. Weighting Mudajaya 1.220 1.175 1.183 1.205 1.213 1.235 1.243 1.265 0.23% Muhibbah 2.230 2.200 2.210 2.220 2.230 2.240 2.250 2.260 0.38% Naim Hold 1.810 1.675 1.738 1.765 1.828 1.855 1.918 1.945 0.15% Sunway Hldgs 3.030 2.970 2.980 3.010 3.020 3.050 3.060 3.090 2.126% TRC Synergy 0.445 0.423 0.434 0.438 0.449 0.453 0.464 0.468 0.076% TSR Capital Bhd 0.520 0.505 0.513 0.515 0.523 0.525 0.533 0.535 0.032% Zelan 0.180 0.173 0.174 0.178 0.179 0.183 0.184 0.188 0.054% Consumer/Retail Aeon Co (M) 2.750 2.720 2.725 2.740 2.745 2.760 2.765 2.780 1.376% Ajinomoto 12.780 11.340 11.840 12.300 12.800 13.260 13.760 14.220 0.277% Apollo Food 5.840 5.825 5.833 5.835 5.843 5.845 5.853 5.855 0.166% Bonia 0.565 0.543 0.554 0.558 0.569 0.573 0.584 0.588 0.162% CI Holdings 2.640 2.580 2.595 2.620 2.635 2.660 2.675 2.700 0.152% Cocoaland 1.990 1.915 1.953 1.965 2.003 2.015 2.053 2.065 0.162% Dutch Lady 55.060 53.890 54.445 54.670 55.225 55.450 56.005 56.230 1.256% Guan Chong 1.040 0.980 1.010 1.020 1.050 1.060 1.090 1.100 0.177% Hai-O Ent 2.600 2.525 2.548 2.575 2.598 2.625 2.648 2.675 0.179% Hovid 0.390 0.368 0.374 0.383 0.389 0.398 0.404 0.413 0.113% Hup seng Inds 1.350 1.320 1.325 1.340 1.345 1.360 1.365 1.380 0.385% K-Star Sports 0.045 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.004% Multi Sports 0.035 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.008% Padini 2.360 2.315 2.338 2.345 2.368 2.375 2.398 2.405 0.553% Parkson Holdings 0.875 0.845 0.858 0.865 0.878 0.885 0.898 0.905 0.328% Pelikan International 0.800 0.778 0.781 0.793 0.796 0.808 0.811 0.823 0.156% Poh Kong 0.505 0.498 0.501 0.503 0.506 0.508 0.511 0.513 0.074% QL Resources 4.340 4.280 4.300 4.320 4.340 4.360 4.380 4.400 1.930% Silver Bird n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Three-A Resource 1.290 1.185 1.233 1.255 1.303 1.325 1.373 1.395 0.181% Xingquan Int l 0.265 0.250 0.253 0.260 0.263 0.270 0.273 0.280 0.056% Yee Lee Corp 2.310 2.265 2.278 2.295 2.308 2.325 2.338 2.355 0.154% Zhulian 1.390 1.345 1.368 1.375 1.398 1.405 1.428 1.435 0.228% 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 1.210 1.180 1.185 1.200 1.205 1.220 1.225 1.240 0.311% Finance BIMB Hold. 3.970 3.820 3.850 3.920 3.950 4.020 4.050 4.120 2.248% Syarikat Takaful 3.880 3.835 3.853 3.865 3.883 3.895 3.913 3.925 1.134% Healthcare Apex Healthcare 3.790 3.685 3.733 3.755 3.803 3.825 3.873 3.895 0.158% CCM Duopharma 2.270 2.195 2.228 2.245 2.278 2.295 2.328 2.345 0.226% KPJ Healthcare 4.230 4.110 4.130 4.190 4.210 4.270 4.290 4.350 1.570% Faber Group n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Manufacturing CBIP 2.090 2.030 2.060 2.070 2.100 2.110 2.140 2.150 0.391% Chin Well 1.680 1.650 1.655 1.670 1.675 1.690 1.695 1.710 0.179% Daibochi Plastic 2.100 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.204% Evergreen Fibre 1.130 1.100 1.115 1.120 1.135 1.140 1.155 1.160 0.341% George Kent 1.650 1.560 1.600 1.620 1.660 1.680 1.720 1.740 0.177% Guh Holdings 0.850 0.850 0.850 0.850 0.850 0.850 0.850 0.850 0.080% Hil Industries 0.840 0.803 0.819 0.828 0.844 0.853 0.869 0.878 0.083% Hong Leong Ind 8.190 8.160 8.170 8.180 8.190 8.200 8.210 8.220 0.932% www.bimbsec.com.my 7

Stocks Closing Price S3 S2 S1 Pivot Point R1 R2 R3 Est. Weighting KYM Hldgs Bhd 0.400 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.021% MWE Hold 1.380 1.335 1.343 1.365 1.373 1.395 1.403 1.425 0.113% Muda Hold 1.970 1.715 1.758 1.885 1.928 2.055 2.098 2.225 0.214% NTPM Hold. 0.920 0.883 0.896 0.908 0.921 0.933 0.946 0.958 0.368% Nylex Malaysia 0.550 0.535 0.543 0.545 0.553 0.555 0.563 0.565 0.038% Perstima 5.920 5.905 5.908 5.915 5.918 5.925 5.928 5.935 0.210% Scientex 12.700 12.220 12.350 12.540 12.670 12.860 12.990 13.180 1.043% Sino Hua-an 0.025 0.018 0.021 0.023 0.026 0.028 0.031 0.033 0.010% SLP Resources 2.300 2.270 2.285 2.290 2.305 2.310 2.325 2.330 0.203% Wellcall 2.430 2.385 2.398 2.415 2.428 2.445 2.458 2.475 0.287% Media Media Chinese 0.740 0.718 0.724 0.733 0.739 0.748 0.754 0.763 0.445% Star Publication 2.360 2.315 2.338 2.345 2.368 2.375 2.398 2.405 0.621% Utusan Melayu 0.475 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.019% Oil & Gas Alam Maritim 0.340 0.325 0.333 0.335 0.343 0.345 0.353 0.355 0.112% Daya Materials 0.080 0.073 0.074 0.078 0.079 0.083 0.084 0.088 0.049% Dayang Ent. 1.060 1.000 1.025 1.040 1.065 1.080 1.105 1.120 0.331% Deleum 1.150 1.120 1.135 1.140 1.155 1.160 1.175 1.180 0.164% Dialog group 1.540 1.480 1.500 1.520 1.540 1.560 1.580 1.600 2.884% ESSO Malaysia 4.470 3.840 4.085 4.260 4.505 4.680 4.925 5.100 0.430% KNM Group 0.460 0.438 0.446 0.453 0.461 0.468 0.476 0.483 0.350% MMHE 1.170 1.140 1.150 1.160 1.170 1.180 1.190 1.200 0.667% Perisai Petroleum 0.250 0.243 0.246 0.248 0.251 0.253 0.256 0.258 0.109% Petra Energy 1.270 1.270 1.270 1.270 1.270 1.270 1.270 1.270 0.145% Pet Chem 6.490 6.160 6.240 6.380 6.460 6.600 6.680 6.820 18.503% Pet Dag 23.520 22.980 23.100 23.340 23.460 23.700 23.820 24.060 8.327% Pet Gas 21.520 20.860 21.020 21.300 21.460 21.740 21.900 22.180 15.175% Ramunia Hold 0.100 0.078 0.089 0.093 0.104 0.108 0.119 0.123 0.040% SAAG Cons. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Sapurakencana 1.610 1.580 1.585 1.600 1.605 1.620 1.625 1.640 3.438% Scomi Eng 0.240 0.225 0.228 0.235 0.238 0.245 0.248 0.255 0.029% Scomi Group 0.180 0.173 0.176 0.178 0.181 0.183 0.186 0.188 0.122% Shell Refining 3.080 3.005 3.023 3.055 3.073 3.105 3.123 3.155 0.329% Tanjung Offshore 0.320 0.298 0.304 0.313 0.319 0.328 0.334 0.343 0.044% Wah Seong 0.705 0.683 0.694 0.698 0.709 0.713 0.724 0.728 0.194% Petra Perdana n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Plantation Batu Kawan 17.600 17.300 17.450 17.500 17.650 17.700 17.850 17.900 2.544% BLD Plantation 8.750 8.525 8.563 8.675 8.713 8.825 8.863 8.975 0.292% Cepat Wawasan 0.685 0.655 0.668 0.675 0.688 0.695 0.708 0.715 0.075% Genting Plant 10.680 10.260 10.330 10.540 10.610 10.820 10.890 11.100 3.003% Golden Land 1.430 1.385 1.393 1.415 1.423 1.445 1.453 1.475 0.110% Gopeng 1.410 1.350 1.360 1.390 1.400 1.430 1.440 1.470 0.090% Hap Seng Plant 2.400 2.325 2.338 2.375 2.388 2.425 2.438 2.475 0.684% IJM Plant. 3.320 3.320 3.320 3.320 3.320 3.320 3.320 3.320 1.042% Inch Ken Kajang 0.700 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.101% IOI 4.220 4.130 4.150 4.190 4.210 4.250 4.270 4.310 9.465% Keck Seng Malay 5.020 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.643% Kim Loong 3.310 3.280 3.290 3.300 3.310 3.320 3.330 3.340 0.367% Kretam Holdings 0.555 0.555 0.555 0.555 0.555 0.555 0.555 0.555 0.371% KLK 23.020 22.150 22.495 22.730 23.075 23.310 23.655 23.890 8.736% Kulim Malaysia 4.020 4.005 4.008 4.015 4.018 4.025 4.028 4.035 1.838% Rimbunan Sawit 0.515 0.508 0.511 0.513 0.516 0.518 0.521 0.523 0.260% www.bimbsec.com.my 8

Stocks Closing Price S3 S2 S1 Pivot Point R1 R2 R3 Est. Weighting Riverview Rubber 3.820 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.088% Sarawak Plant 1.900 1.900 1.900 1.900 1.900 1.900 1.900 1.900 0.189% TDM 0.690 0.683 0.686 0.688 0.691 0.693 0.696 0.698 0.364% TH Plant 1.130 1.100 1.115 1.120 1.135 1.140 1.155 1.160 0.356% Tradewinds Plant n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% United Plant 26.600 26.600 26.600 26.600 26.600 26.600 26.600 26.600 1.970% Power TNB 14.000 13.880 13.930 13.960 14.010 14.040 14.090 14.120 28.157% YTL Power 1.450 1.420 1.430 1.440 1.450 1.460 1.470 1.480 3.988% Property A & M Realty 1.080 1.050 1.055 1.070 1.075 1.090 1.095 1.110 0.141% Am Corp Prop. 0.900 0.840 0.863 0.880 0.903 0.920 0.943 0.960 0.189% Symphony Life Bh 0.690 0.660 0.668 0.680 0.688 0.700 0.708 0.720 0.076% Crescendo Corp 1.590 1.575 1.583 1.585 1.593 1.595 1.603 1.605 0.129% Daiman Develop 2.240 2.195 2.218 2.225 2.248 2.255 2.278 2.285 0.168% Damansara Realty 0.680 0.650 0.665 0.670 0.685 0.690 0.705 0.710 0.075% Dijaya n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Dutaland 0.450 0.443 0.444 0.448 0.449 0.453 0.454 0.458 0.136% E&O 1.550 1.490 1.520 1.530 1.560 1.570 1.600 1.610 0.693% Global Oriental 0.490 0.483 0.486 0.488 0.491 0.493 0.496 0.498 0.079% Glomac 0.800 0.755 0.768 0.785 0.798 0.815 0.828 0.845 0.206% 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 0.450 0.435 0.443 0.445 0.453 0.455 0.463 0.465 0.071% KLCC Property n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% KSL Hold. 1.160 1.145 1.148 1.155 1.158 1.165 1.168 1.175 0.416% Kump Hartanah n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Kump Perangsang 0.985 0.963 0.966 0.978 0.981 0.993 0.996 1.008 0.175% LBS Bina Group 1.570 1.540 1.545 1.560 1.565 1.580 1.585 1.600 0.315% Magna Prima 0.985 0.970 0.975 0.980 0.985 0.990 0.995 1.000 0.116% Mah Sing 1.500 1.485 1.493 1.495 1.503 1.505 1.513 1.515 1.288% Malton 0.695 0.673 0.679 0.688 0.694 0.703 0.709 0.718 0.111% MK Land 0.330 0.315 0.320 0.325 0.330 0.335 0.340 0.345 0.142% Nadayu n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Plenitude 1.720 1.690 1.705 1.710 1.725 1.730 1.745 1.750 0.234% Selangor Prop 4.900 4.900 4.900 4.900 4.900 4.900 4.900 4.900 0.600% Selangor Dredging 0.990 0.983 0.986 0.988 0.991 0.993 0.996 0.998 0.150% SP Setia 3.160 3.055 3.083 3.125 3.153 3.195 3.223 3.265 2.960% Sunway Bhd 3.030 2.970 2.980 3.010 3.020 3.050 3.060 3.090 2.126% Suria Capital 2.250 2.145 2.163 2.215 2.233 2.285 2.303 2.355 0.231% 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 1.130 1.100 1.105 1.120 1.125 1.140 1.145 1.160 0.191% YNH Property 1.950 1.845 1.878 1.915 1.948 1.985 2.018 2.055 0.293% YTL Land & Dev 0.615 0.608 0.611 0.613 0.616 0.618 0.621 0.623 0.182% Rubber Glove Adventa 0.800 0.785 0.793 0.795 0.803 0.805 0.813 0.815 0.044% Hartalega 4.280 4.175 4.193 4.245 4.263 4.315 4.333 4.385 2.503% Kossan 6.800 6.545 6.588 6.715 6.758 6.885 6.928 7.055 1.550% Latexx Partners n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Rubberex 0.780 0.750 0.763 0.770 0.783 0.790 0.803 0.810 0.064% Supermax Corp 2.620 2.515 2.568 2.585 2.638 2.655 2.708 2.725 0.627% www.bimbsec.com.my 9

Stocks Closing Price S3 S2 S1 Pivot Point R1 R2 R3 Est. Weighting Top Glove 5.190 4.995 5.083 5.125 5.213 5.255 5.343 5.385 2.317% Technology Compugates 0.045 0.038 0.041 0.043 0.046 0.048 0.051 0.053 0.034% D&O Green Tech 0.300 0.300 0.300 0.300 0.300 0.300 0.300 0.300 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 0.765 0.750 0.755 0.760 0.765 0.770 0.775 0.780 0.067% Frontken 0.150 0.143 0.144 0.148 0.149 0.153 0.154 0.158 0.056% Globetronics 3.610 3.130 3.225 3.450 3.545 3.770 3.865 4.090 0.363% JCY Int l 0.650 0.635 0.640 0.645 0.650 0.655 0.660 0.665 0.477% Key Asic 0.160 0.145 0.153 0.155 0.163 0.165 0.173 0.175 0.048% MPI 7.390 7.255 7.278 7.345 7.368 7.435 7.458 7.525 0.524% Notion V-Tec 0.395 0.358 0.374 0.383 0.399 0.408 0.424 0.433 0.038% Panasonic Man 29.280 28.980 29.040 29.180 29.240 29.380 29.440 29.580 0.634% 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 Bhd 1.730 1.610 1.665 1.690 1.745 1.770 1.825 1.850 0.240% Unisem 2.270 2.135 2.193 2.225 2.283 2.315 2.373 2.405 0.594% VS Industry 1.240 1.210 1.215 1.230 1.235 1.250 1.255 1.270 0.514% Telcos Axiata Group 5.400 5.160 5.230 5.320 5.390 5.480 5.550 5.640 16.979% DiGi.Com 4.420 4.315 4.358 4.385 4.428 4.455 4.498 4.525 12.247% Green Packet 0.255 0.248 0.249 0.253 0.254 0.258 0.259 0.263 0.062% Maxis 5.560 5.350 5.385 5.490 5.525 5.630 5.665 5.770 14.881% Telekom Malaysia 6.670 6.580 6.605 6.640 6.665 6.700 6.725 6.760 8.932% Time Dotcom 7.210 7.075 7.138 7.165 7.228 7.255 7.318 7.345 1.479% Timber Jaya Tiasa 1.260 1.200 1.220 1.240 1.260 1.280 1.300 1.320 0.435% Subur Tiasa 1.540 1.540 1.540 1.540 1.540 1.540 1.540 1.540 0.103% WTK 1.150 1.090 1.110 1.130 1.150 1.170 1.190 1.210 0.196% Transport/Logistics Bintulu Port 7.000 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 1.147% Airasia 2.260 2.125 2.183 2.215 2.273 2.305 2.363 2.395 2.241% Century Logistic 0.805 0.798 0.799 0.803 0.804 0.808 0.809 0.813 0.110% Cycle & Carriage 3.210 3.180 3.185 3.200 3.205 3.220 3.225 3.240 0.115% Hubline 0.010 0.003 0.004 0.008 0.009 0.013 0.014 0.018 0.038% Integrated Log. 0.795 0.773 0.784 0.788 0.799 0.803 0.814 0.818 0.049% 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 0.770 0.718 0.734 0.753 0.769 0.788 0.804 0.823 0.274% MISC 7.530 7.320 7.365 7.460 7.505 7.600 7.645 7.740 11.978% NCB Hold n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Scomi Energy Ser 0.215 0.208 0.209 0.213 0.214 0.218 0.219 0.223 0.179% Water & Infrastructure PBA Hold 1.120 1.090 1.100 1.110 1.120 1.130 1.140 1.150 0.132% Puncak Niaga 1.190 1.145 1.158 1.175 1.188 1.205 1.218 1.235 0.190% Salcon 0.625 0.610 0.618 0.620 0.628 0.630 0.638 0.640 0.148% Taliworks Corp n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Lingkaran Trans 5.350 5.275 5.288 5.325 5.338 5.375 5.388 5.425 0.997% Protasco 1.700 1.670 1.675 1.690 1.695 1.710 1.715 1.730 0.204% www.bimbsec.com.my 10

Stocks Closing Price S3 S2 S1 Pivot Point R1 R2 R3 Est. Weighting Others Ancom 0.355 0.340 0.343 0.350 0.353 0.360 0.363 0.370 0.027% Asia File bhd 4.350 4.350 4.350 4.350 4.350 4.350 4.350 4.350 0.297% Boustead Heavy 1.560 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.138% Eden Inc 0.220 0.220 0.220 0.220 0.220 0.220 0.220 0.220 0.024% Fima Corp 2.200 2.065 2.133 2.155 2.223 2.245 2.313 2.335 0.189% Kumpulan FIMA 1.840 1.795 1.813 1.825 1.843 1.855 1.873 1.885 0.182% KUB Malaysia 0.325 0.310 0.313 0.320 0.323 0.330 0.333 0.340 0.064% Pie Industrial 13.100 12.740 12.910 12.980 13.150 13.220 13.390 13.460 0.359% Southern Acids 3.870 3.840 3.845 3.860 3.865 3.880 3.885 3.900 0.189% Mega First 1.700 1.670 1.685 1.690 1.705 1.710 1.725 1.730 0.231% Coastal Contract 1.590 1.515 1.533 1.565 1.583 1.615 1.633 1.665 0.301% Time Engineering n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 0.000% Sealink Int'l 0.215 0.200 0.208 0.210 0.218 0.220 0.228 0.230 0.038% Shin Yang 0.345 0.330 0.335 0.340 0.345 0.350 0.355 0.360 0.148% Jobstreet Corp 1.810 1.810 1.810 1.810 1.810 1.810 1.810 1.810 0.090% Myeg Services 2.000 1.940 1.970 1.980 2.010 2.020 2.050 2.060 1.714% Pos Malaysia 2.670 2.520 2.595 2.620 2.695 2.720 2.795 2.820 0.511% Picorp 0.155 0.133 0.144 0.148 0.159 0.163 0.174 0.178 0.036% Lion Forest 0.650 0.650 0.650 0.650 0.650 0.650 0.650 0.650 0.053% 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 Bhd 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 Bhd 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 Berhad 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 Thong Pak Leng www.bimbsec.com.my 12