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Kenanga Today

03 October 2017

BURSA 2-Oct Day chg % chg


KLCI
FTSE EMAS
1,754.8
12,513.6
-0.8
-17.7
-0.05%
-0.14%
Research Highlights
FTSE Smallcap 16,870.7 -80.27 -0.47% NEWS HIGHLIGHTS
FTSE MESDAQ 6,557.2 -11.7 -0.18%
KLSE Mkt Cap 1,755.8 -4.8 -0.27% Aramco seals deals in two facilities (Comment included in
(RM'b)
Kenanga Today)
BURSA DAILY TRADING PARTICIPATION
Participation Net (RM m) Value (%)
TNB proposes 13 collaborative projects with Belgium's Elia
Local Institution 95.7 55..5%
Local Retail -16.5 20.7% System Operator
Foreign -79.2 23.8%
Sime Darby novates Islamic programmes to property arm
INDICES 2-Oct Day chg % chg
Dow Jones 22,557.6 152.5 0.68%
Lotte Chemical gets DOE stop-work order to fix odour emission
S&P 500 2,529.1 9.8 0.39%
NASDAQ 6,516.7 20.8 0.32%
FTSE-100 7,438.8 66.1 0.90% Uchi Tech unit granted 5-year pioneer status from MIDA
Nikkei 225 20,400.8 44.5 0.22%
SHCOMP N.A. N.A. N.A. MACRO BITS
HSI N.A. N.A. N.A.
STI 3,262.1 42.19 1.31% Global outlook remains buoyant
KOSPI N.A. N.A. N.A.
TWSE 10,465.2 135.2 1.31% Septembers PMI edged below 50, bogged down by weak demand
JCI 5,914.0 13.176 0.22%
SET 1,688.6 15.5 0.93%
ASEAN PMI slightly less optimistic
FOREX 2-Oct 29-Sep % chg
USD/MYR: 4.2343 4.2205 0.33% Thai Sept headline consumer price index up 0.86 pct y/y, above
EUR/USD: 1.1746 1.1814 -0.58%
forecast
GBP/USD: 1.3311 1.3398 -0.65%
USD/YEN: 112.78 112.51 0.24%
USD/SGD: 1.3613 1.3576 0.27% Indonesia's inflation eased in September to 3.72%, weighed by
USD/HKD: 7.8114 7.8110 0.01% food prices

KEY STATS
August 2017 - Euro area unemployment at 9.1% - EU28 at 7.6%
KLCI Spot
Vol (m shares): 2,232.5 2,021.3 10.45%
Value (RMm): 1,739.8 2,130.7 -18.35%
Saudi economy contracts in first two quarters of 2017
KLCI Future
October-17 1,747.0 1,751.5 -0.26% IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)
November-17 1,749.5 1,751.5 -0.11%
CPO Price 2,671.0 2,695.0 -0.89%
Market Strategy: 4Q17 Investment Strategy
(RM/tonne)
Soybean (US$/bu) 957.3 968.3 -1.14% On Our Technical Watch: GCB, MUDAJYA
SoyOil (USc/lb) 32.7 32.8 -0.37%
Gold (US$/troy oz) 1,275.8 1,281.5 -0.44% Economic Viewpoint: Malaysia Manufacturing PMI
Nymex crude oil 50.6 51.7 -2.11%
(US$/bbl)
Latex (RM/kg) 4.85 4.94 -1.82%
Tin (US$/mt) 20,842.0 20,845.0 -0.01%

Top Volume Top Gainer Top Loser


%Chg Vol %Chg Vol %Chg
Stock Price Stock Price Stock Price Vol (m)
(+/-) (m) (+/-) (m) (+/-)
1 CIMB 6.34 0.6 17.60 AMBANK 4.40 0.9 1.14 TM 6.30 -3.1 2.45
2 MAYBANK 9.55 0.2 12.60 PBBANK 20.58 0.7 3.44 KLCC 7.82 -2.3 0.37
3 IOICORP 4.53 -0.2 10.50 CIMB 6.34 0.6 17.60 BAT 42.92 -1.9 0.20
4 TENAGA 14.32 0.0 10.50 ASTRO 2.83 0.4 1.47 WPRTS 3.75 -1.6 0.86
5 SIME 9.00 -0.2 7.35 IJM 3.31 0.3 1.55 GENM 5.30 -1.5 4.54
6 AXIATA 5.25 0.2 5.54 KLK 24.62 0.2 0.23 IHH 5.70 -0.9 3.59
7 GENM 5.30 -1.5 4.54 PPB 16.90 0.2 0.41 GENTING 9.48 -0.7 1.75
8 PCHEM 7.30 0.1 4.00 MAYBANK 9.55 0.2 12.60 HLFG 16.50 -0.6 0.27
9 IHH 5.70 -0.9 3.59 DIGI 4.91 0.2 2.45 PETDAG 24.22 -0.4 0.29
10 PBBANK 20.58 0.7 3.44 RHBBANK 5.04 0.2 0.75 MISC 7.28 -0.3 0.76
Note: * KL Composite Index (FBMKLCI) component stocks0020

PP7004/02/2013(031762) Page 1 of 15
Kenanga Today
03 October 2017

Corporate News
Aramco seals deals in two facilities
The state oil company of Saudi Arabia, Saudi Aramco has taken up
strategic stakes in two petrochemical plants in Pengerang as part of its
estimated USD7b investment in the project. It will be taking up a 50.0%
stake and assumed the proportionate share of borrowings in a plant, under
PRPC Polymers Sdn Bhd that produces polymers for USD900.0m from
Petronas Chemcials Group Bhd. Saudi Aramco has also sealed an
agreement to take up a 50.0% equity interest and shareholder loans in
PRPC Refinery and Cracker Sdn Bhd Petronas unit, Petronas Refinery
and Petrochemical Corp Sdn Bhd. (The Star)
Comment: This news was not unexpected given the earlier announcement
of Saudi Aramco's participation in the RAPID project. To recap, the PRPC
Polymers project was announced in Nov 2015 with the award of EPCC
contract for a 900 ktpa Polypropylene (PP) plant worth USD482.0m to a
consortium which consists of TECNIMONT of Italy and Huanqiu
Contracting of China. The PP plant is expected to be completed by April
2019. We are positive on the divestment which could lessen PCHEM's
financial burden while it is able to leverage on Saudi Aramcos experiences
in execution implementation and operation of similar large-scale and
integrated petrochemical project, i.e., Sadara Chemical Company. This is
a win-win situation for both parties. As the project completion date is
beyond our earnings forecast horizon, we keep our estimates and OP
rating with price target unchanged at RM7.85.
TNB proposes 13 collaborative projects with Belgium's Elia
System Operator
Tenaga Nasional Bhd (TNB) has proposed 13 collaborative projects under
a two-year strategic collaboration to share best practices in capacity
building with European transmission system operator Elia System
Operator SA. TNB chief executive officer (CEO) said the projects would
benefit TNBs role in the regional Asean Power Grid (APG) initiative. The
utility giant achieved a significant milestone for APG at the recent Asean
Ministers on Energy Meeting in Manila, with the joint signing of an energy
purchase and wheeling agreement by TNB, Laos Electricite du Laos and
Thailands Electricity Generating Authority of Thailand. (The Edge)
Sime Darby novates Islamic programmes to property arm
Sime Darby Bhd has novated its rights and obligations under two Islamic
programmes to Sime Darby Property Bhd with effect from Sept 29, 2017.
The programmes comprise an Islamic Medium Term Note Programme of
RM4.5b and Islamic Commrcial Paper/Islamic Medium Term Note
Programme of RM500.0m with a combined master limit of RM4.5b in
nominal value. The announcement comes as part of Sime Darby's
proposed internal restructuring as it pursues a pure-play strategy that
involves spinning off its plantation and property businesses as separate
listings on Bursa Malaysia. (The Star)

PP7004/02/2013(031762) Page 2 of 15
Kenanga Today
03 October 2017

Lotte Chemical gets DOE stop-work order to fix odour emission


Lotte Chemical Titan Holding Bhd (LCT) has received a stop-work order
from the Department of Environment (DOE) on its KBR Catalytic Olefins
Technology catalytic cracking reactor (K-COT) within its TE3 Project for
the company, to mitigate and reduce odour emission and eliminate surface
oil sheen/film discharge. In a filing with Bursa Malaysia, LCT said the order
from the DOE was issued on Oct 1. LCT added that the company was
attending to remedial actions and will provide an update in due course.
LCT said the commissioning and the commercial startup of its TE3 Project
remains on target for completion by the fourth quarter of 2017. (The Edge)
Uchi Tech unit granted 5-year pioneer status from MIDA
Uchi Technologies Bhd said its wholly-owned subsidiary Uchi
Optoelectronic (M) Sdn Bhd has been granted pioneer status by the
Malaysian Investment Development Authority (MIDA). In a filing with Bursa
Malaysia today, Uchi Tech said the pioneer status was for the "design,
development and manufacturing of real-time centralised energy
measurement and control system, high precision hot fluid temperature
control system, and ultra-low temperature and mass sensing control
system for bio-chem equipments". It said the letter was received on Sept
21, 2017 and that the pioneer status is valid for five years from the
production date, which will be fixed by the authorities later. (The Edge)

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PP7004/02/2013(031762) Page 3 of 15
Kenanga Today
03 October 2017

Macro Bits
Global
Global outlook remains buoyant. Globally, the PMI was unchanged from Augusts 75-month high of 53.2. This
coincided with strong and sustained PMI readings among the advanced market economies (AME). The Eurozone
sustained sharp PMI improvements with a reading of 58.2 (Aug: 57.4) while the US clocked a PMI of 53.0 (Aug:
52.8), pointing to further strength in the AME growth story. Back in Asia, both China and Japan likewise saw
above-50 reading at 51.0 and 52.9 respectively (Aug: 51.6 and 52.2 respectively). (See Economic Viewpoint:
Malaysia Manufacturing PMI)

Malaysia
Septembers PMI edged below 50, bogged down by weak demand. Malaysias Manufacturing Purchasing
Mangers Index (PMI) dipped back to slightly below the 50.0 neutral threshold in September to 49.9 after Augusts
50.4 reading. New orders remained weak with declines observed for both domestic and export demand.
However, despite weak new orders, output growth continued to rise, albeit at a slower pace from August. With
new orders remaining weak overall, purchasing activity declined, along with stock of purchases and finished
goods. (See Economic Viewpoint: Malaysia Manufacturing PMI)

Asia-Pacific
ASEAN PMI slightly less optimistic. The Nikkei ASEAN Manufacturing Purchasing Managers Index was
recorded at 50.3 (Aug: 50.4), just a notch lower than the previous month. The four countries recording an
expansion include Vietnam (53.3), Philippines (50.8), Indonesia (50.4) and Thailand (50.3) while the remaining
countries reporting sub-50 reading include Malaysia, Myanmar (49.4) and Singapore (48.6). This comes as both
Singapore and Malaysia PMI deteriorated to a sub-50 growth while Thailands PMI improved. (See Economic
Viewpoint: Malaysia Manufacturing PMI)
Thai Sept headline consumer price index up 0.86% y/y, above forecast. Headline consumer price index
increased 0.86% in September from a year earlier, after a 0.32% rise in August. A Reuters poll projected a rise of
0.45% in September. The Bank of Thailand (BOT) has forecast 2017 headline inflation of 0.6%, below its 1-4%
target range. The BOT left its policy interest rate unchanged at 1.50% last week, shrugging off calls from the
government and businesses for a cut to contain the baht's strength. The rate has been at that level since April
2015. (Reuters)
Indonesia's inflation eased in September to 3.72%, weighed by food prices. September's consumer price
index, a gauge of inflation, rose 3.72% compared with the same period a year ago, slowing from August's 3.82%
rise, the official Statistics Agency said Monday. Compared the month before, prices rose 0.13%, after falling
0.07% in August. (Dow Jones)

Europe
August 2017 - Euro area unemployment at 9.1% - EU28 at 7.6%. The euro area (EA19) seasonally-adjusted
unemployment rate was 9.1% in August 2017, stable compared to July 2017 and down from 9.9% in August
2016. This remains the lowest rate recorded in the euro area since February 2009. The EU28 unemployment rate
was 7.6% in August 2017, down from 7.7% in July 2017 and from 8.5% in August 2016. This is the lowest rate
recorded in the EU28 since November 2008. (Eurostats)

Middle East
Saudi economy contracts in first two quarters of 2017. General Authority for Statistics figures show that gross
domestic product shrank by 2.3% in the second quarter compared with the first three months of 2017, mainly
over low oil prices and less production. GDP in the first quarter contracted by 3.7% compared with the last
quarter of 2016. (AFP)

PP7004/02/2013(031762) Page 4 of 15
Kenanga Today
03 October 2017

Rights Issue
Company Basis Exercise Price Ex-date
ASIA POLY HOLDINGS 1 ICPS for 1 Shares; 1 Warrant for To Be Determined Later To Be Determined Later
BERHAD 4 ICPS
ATTA GLOBAL GROUP 8 ICPS for 1 Share RM0.06 To Be Determined Later
BERHAD
ASIA BIOENERGY 10 ICPS & 1 Warrant for 5 shares To Be Determined Later To Be Determined Later
TECHNOLOGIES BERHAD
CHEE WAH CORPORATION 1 Right Share for 2 Shares To Be Determined Later To Be Determined Later
BERHAD
FOCUS DYNAMICS GROUP 2 Right Shares for 2 Shares; 1 To Be Determined Later To Be Determined Later
BERHAD Warrants for 2 Right Shares
HO HUP CONSTRUCTION 1 Right Share for 5 Shares; 1 To Be Determined Later To Be Determined Later
COMPANY BHD Warrant for 1 Right Shares
LONDON BISCUITS BERHAD 1 Right Share for 3 Shares, 1 To Be Determined Later To Be Determined Later
Warrant for 1 Right Shares
MMAG HOLDINGS BERHAD 1 Right Shares for 2 Shares; 3 To Be Determined Later To Be Determined Later
Warrants for 2 Right Shares
MELEWAR INDUSTRIAL 1 Right Share for 1 Share, 1 RM0.20 To Be Determined Later
GROUP BERHAD Warrant for 2 Right Shares
MYCRON STEEL BERHAD 1 Right Share for 5 Shares; 1 RM0.50 To Be Determined Later
Warrant for 2 Rights Share
NICHE CAPITAL EMAS 4 Rights Shares for 1 Share, 2 To Be Determined Later To Be Determined Later
HOLDINGS BERHAD Warrants for 4 Rights Shares
PASDEC HOLDINGS BERHAD 2 Rights for 5 Shares; 1 Warrants RM0.30 To Be Determined Later
for 1 Right Shares
PCCS GROUP BERHAD 5 Right Shares for 2 Shares; 3 To Be Determined Later To Be Determined Later
Warrants for 5 Right Shares
PDZ HOLDINGS BHD 4 Right Shares & 3 Warrants for 2 To Be Determined Later To Be Determined Later
Shares
PNE PCB BERHAD 12 ICPS & 1 Warrant for 2 Shares To Be Determined Later To Be Determined Later

PRICEWORTH 2 Right Shares for 1 Shares To Be Determined Later To Be Determined Later


INTERNATIONAL BERHAD
P.A. RESOURCES BERHAD 4 Right Shares for 5 Shares, 1 To Be Determined Later To Be Determined Later
Warrant for 1 Right Share
R&A TELECOMMUNICATION 2 Right Shares & 1 Warrant for 2 To Be Determined Later To Be Determined Later
GROUP BERHAD Shares
SARAWAK OIL PALMS 2 Right Shares for 7 Shares To Be Determined Later To Be Determined Later
BERHAD
SC ESTATE BUILDER BERHAD 5 Right Shares for 1 Shares; 2 To Be Determined Later To Be Determined Later
Warrants for 5 Right Shares
SENTORIA GROUP BERHAD 4 Warrants for 10 Shares To Be Determined Later To Be Determined Later

SINMAH CAPITAL BERHAD 5 Rights Shares for 2 Shares; 1 To Be Determined Later To Be Determined Later
Rights Warrant for 4 Rights
Shares
SMTRACK BERHAD 3 Rights Shares for 2 Shares, 2 To Be Determined Later To Be Determined Later
Warrants for 3 Rights Shares
S P SETIA BERHAD 2 RCPS for 5 Shares To Be Determined Later To Be Determined Later

SUMATEC RESOURCES 6 Rights for 5 Shares; 1 Warrant To Be Determined Later To Be Determined Later
BERHAD for 2 Right Shares
TADMAX RESOURCES 2 Right Shares for 5 Shares; 7 To Be Determined Later To Be Determined Later
BERHAD Warrants for 4 Right Shares
TIGER SYNERGY BERHAD 3 ICPS for 1 Shares; 1 Warrant for To Be Determined Later To Be Determined Later
105 ICPS
VIZIONE HOLDINGS BERHAD 2 Rights for 1 Shares; 1 Warrants To Be Determined Later To Be Determined Later
for 2 Right Shares
VSOLAR GROUP BERHAD 3 Rights for 1 Shares; 1 Warrant RM0.10 To Be Determined Later
for 2 Right Shares
WONG ENGINEERING 1 Rights for 2 Shares RM0.60 To Be Determined Later
CORPORATION BERHAD
Source: Bursa Malaysia

PP7004/02/2013(031762) Page 5 of 15
Kenanga Today
03 October 2017

Rights Issue
Company Basis Exercise Price Ex-date
ZECON BERHAD 5 RCULs for 3 Shares RM0.50 To Be Determined Later

Source: Bursa Malaysia

This section is intentionally left blank

PP7004/02/2013(031762) Page 6 of 15
Kenanga Today
03 October 2017

Bonus Issue
Company Basis Ex-date
ATLAN HOLDINGS BHD 2 Warrants for 5 Shares To Be Determined Later

ECONPILE HOLDINGS BERHAD 1 Bonus for 4 Split Shares, 1 Warrant for 4 To Be Determined Later
Split Shares
FOUNDPAC GROUP BERHAD 2 Bonus for 5 Shares To Be Determined Later

GLOMAC BERHAD 1 Bonus for 10 Shares To Be Determined Later

HIL INDUSTRIES BERHAD 1 Bonus, 1 Warrant for 5 Shares To Be Determined Later

HLT GLOBAL BERHAD 1 Bonus for 2 Shares,3 Warrants for 4 To Be Determined Later
Shares
JAG BERHAD 1 Bonus for 13 Shares,2 Warrants for 13 To Be Determined Later
Shares
JF TECHNOLOGY BERHAD 2 Bonus for 3 Shares To Be Determined Later

KEIN HING INTERNATIONAL BERHAD 1 Bonus for 10 Shares To Be Determined Later

LONDON BISCUITS BERHAD 1 Bonus for 1 Right Share To Be Determined Later

MENANG CORPORATION (M) BERHAD 4 Bonus for 5 Shares To Be Determined Later

OSK HOLDINGS BERHAD 1 Bonus for 2 Shares To Be Determined Later

PENTAMASTER CORPORATION 2 Bonus for 25 Shares To Be Determined Later


BERHAD
PLB ENGINEERING BERHAD 1 Bonus for 4 Shares To Be Determined Later

SEACERA GROUP BERHAD 2 Warrants for 5 Shares To Be Determined Later

SENTORIA GROUP BERHAD 1 Bonus for 10 Shares To Be Determined Later

SOLID AUTOMOTIVE BERHAD 1 Share for 6 Split Shares To Be Determined Later

TECHFAST HOLDINGS BERHAD 1 Bonus for 3 Shares To Be Determined Later

TEX CYCLE TECHNOLOGY (M) BERHAD 1 Bonus for 2 Shares To Be Determined Later

TRIVE PROPERTY GROUP BERHAD 1 Bonus for 6 Shares To Be Determined Later

VISDYNAMICS HOLDINGS BERHAD 1 Bonus for 2 Shares, 1 Warrant for 4 To Be Determined Later
Shares
ZECON BERHAD 1 Bonus for 1 Share To Be Determined Later

Source: Bursa Malaysia

PP7004/02/2013(031762) Page 7 of 15
Kenanga Today
03 October 2017

Private Placement
Company Remark
AE MULTI HOLDINGS BERHAD 27,036,700 shares or 10% of the issued and paid-up capital of AEM

AHB HOLDINGS BERHAD 23,116,300 shares or 10% of the issued and paid-up capital of AHB

ANCOM LOGISTICS BERHAD 47,329,000 shares or 10% of the issued and paid-up capital of ANCOMLB

APFT BERHAD 333,339,700 shares or 30% of the issued and paid-up capital of APFT

APPASIA BERHAD 47,574,500 shares or 10% of the issued and paid-up capital of APPASIA

ARK RESOURCES BERHAD 14,602,000 shares or 30% of the issued and paid-up capital of ARK

ASIA BIOENERGY TECHNOLOGIES 152,061,340 shares or 10% of the issued and paid-up capital of ASIABIO
BERHAD
ASIA POLY HOLDINGS BERHAD 303,190,880 shares or 10% of the issued and paid-up capital of ASIAPLY

AXIS REAL ESTATE INVESTMENT TRUST 250,750,952 shares or 20% of the issued and paid-up share capital of
AXIS-REIT
BHS INDUSTRIES BERHAD 61,743,550 shares or 10% of the issued and paid-up share capital of BHS

B.I.G. INDUSTRIES BERHAD 4,809,220 shares or 10% of the issued and paid-up share capital of BIG

BINA PURI HOLDINGS BERHAD 26,128,420 shares or 10% of the issued and paid-up share capital of
BINAPURI
BIOALPHA HOLDINGS BERHAD 17,718,962 shares or 5% of the issued and paid-up share capital of
BIOHLDG
BISON CONSOLIDATED BERHAD 31,007,000 shares or 10% of the issued and paid-up share capital of
BISON
CHEMICAL COMPANY OF MALAYSIA 45,463,185 shares or 10% of the issued and paid-up share capital of
BERHAD CCMB
CENTRAL INDUSTRIAL CORPORATION 4,220,000 shares or 9.2% of the issued and paid-up share capital of CICB
BERHAD
CME GROUP BERHAD 1,225,350,715 shares or 10% of the issued and paid-up share capital of
CME
COMPUGATES HOLDINGS BERHAD 213,428,900 shares or 10% of the issued and paid-up share capital of
COMPUGT
CWORKS SYSTEMS BERHAD 12,100,100 shares or 10% of the issued and paid-up share capital of
CWORKS
DIGISTAR CORPORATION BERHAD 67,318,476 shares or 10% of the issued and paid-up share capital of
DIGISTAR
DOLPHIN INTERNATIONAL BERHAD 27,700,000 shares or 10% of the issued and paid-up capital of DOLPHIN

D'NONCE TECHNOLOGY BHD 36,080,800 shares or 20% of the issued and paid-up capital of DNONCE

ECO WORLD DEVELOPMENT GROUP 591,066,319 shares or 25% of the issued and paid-up capital of ECOWLD
BERHAD
ENCORP BERHAD 131,556,380 shares or 10% of the issued and paid-up capital of ENCORP

ENGTEX GROUP BERHAD 44,550,000 shares or 10% of the issued and paid-up capital of ENGTEX

EONMETALL GROUP BHD 17,117,100 shares or 10% of the issued and paid-up capital of
EONMETALL
EURO HOLDINGS BERHAD 24,300,000 shares or 10% of the issued and paid-up capital of EURO

EWEIN BERHAD 22,264,800 shares or 10% of the issued and paid-up capital of EWEIN

EVERSENDAI CORPORATION BERHAD 77,389,900 shares or 10% of the issued and paid-up capital of
EVERSENDAI
FAJARBARU BUILDER GROUP BHD 47,683,179 shares or 10% of the issued and paid-up capital of FAJAR

FSBM HOLDINGS BERHAD 127,656,700 shares or 10% of the issued and paid-up capital of FBSM

G NEPTUNE BHD 86,625,000 shares or 30% of the issued and paid-up capital of GNB

Source: Bursa Malaysia

PP7004/02/2013(031762) Page 8 of 15
Kenanga Today
03 October 2017

Private Placement
Company Remark
GABUNGAN AQRS BERHAD 55,036,849 shares or 10% of the issued and paid-up capital of GBAQRS

GREEN OCEAN CORPORATION BERHAD 32,921,686 shares or 10% of the issued and paid-up capital of GOCEAN

HIBISCUS PETROLEUM BERHAD 144,384,429 shares or 10% of the issued and paid-up share capital of
HIBISCS
HO WAH GENTING BERHAD 94,694,800 shares or 10% of the issued and paid-up share capital of
HOWAH
HUBLINE BERHAD 2,917,020,684 shares or 30% of the issued and paid-up share capital of
HUBLINE
IDIMENSION CONSOLIDATED BHD 74,238,642 shares or 10% of the issued and paid-up share capital of
IDMENSN
IKHMAS JAYA GROUP BERHAD 52,000,000 shares or 10% of the issued and paid-up share capital of
IKHMAS
INTEGRATED LOGISTICS BHD 172,737,228 shares or 10% of the issued and paid-up share capital of ILB

IRE-TEX CORPORATION BERHAD 13,372,156 shares or 10% of the issued and paid-up share capital of ITCB

JAG BERHAD 153,844,000 shares or 10% of the issued and paid-up capital of JAG

KRONOLOGI ASIA BERHAD 27,037,200 shares or 10% of the issued and paid-up capital of KAB

KEY ALLIANCE GROUP BERHAD 871,200,000 shares or 10% of the issued and paid-up capital of KGROUP

KUMPULAN POWERNET BERHAD 6,922,794 shares or 10% of the issued and paid-up capital of KPOWER

LFE CORPORATION BERHAD 18,156,570 shares or 10% of the issued and paid-up capital of LFECORP

LONDON BISCUITS BERHAD 22,381,500 shares or 10% of the issued and paid-up capital of LONBISC

LUSTER INDUSTRIES BHD 2,464,079,015 shares or 10% of the issued and paid-up capital of
LUSTER
M N C WIRELESS BERHAD 9,447,350 shares or 10% of the issued and paid-up share capital of MNC

MALAYSIAN GENOMICS RESOURCE 94,100,480 shares or 10% of the issued and paid-up share capital of
CENTRE BERHAD MGRC
MALAYSIA STEEL WORKS (KL) BHD 24,300,000 shares or 10% of the issued and paid-up share capital of
MASTEEL
MESB BERHAD 12,600,000 shares or 30% of the issued and paid-up share capital of
MESB
MINETECH RESOURCES BERHAD 99,749,800 shares or 10% of the issued and paid-up share capital of
MINETEC
MINHO (M) BERHAD 32,955,300 shares or 10% of the issued and paid-up share capital of
MINHO
ML GLOBAL BERHAD 47,414,419 shares or 10% of the issued and paid-up share capital of
MLGLOBAL
MTOUCHE TECHNOLOGY BERHAD 23,154,000 shares or 10% of the issued and paid-up share capital of
MTOUCHE
MUHIBBAH ENGINEERING (M) BHD 48,245,925 shares or 10% of the issued and paid-up share capital of
MUHIBAH
NEXGRAM HOLDINGS BERHAD 188,073,400 shares or 10% of the issued and paid-up share capital of
NEXGRAM
NOVA MSC BERHAD 155,022,635 shares or 20% of the issued and paid-up share capital of
NOVAMSC
NWP HOLDINGS BERHAD 32,000,000 shares or 10% of the issued and paid-up share capital of NWP

OMESTI BERHAD 59,899,800 shares or 10% of the issued and paid-up share capital of
OMESTI
ONLY WORLD GROUP HOLDINGS BERHAD 24,288,499 shares or 10% of the issued and paid-up share capital of
OWG
O&C RESOURCES BERHAD 23,945,800 shares or 10% of the issued and paid-up share capital of
OCR
PALETTE MULTIMEDIA BERHAD 43,578,900 shares or 10% of the issued and paid-up share capital of
PALETTE
Source: Bursa Malaysia

PP7004/02/2013(031762) Page 9 of 15
Kenanga Today
03 October 2017

Private Placement
Company Remark
PANPAGES BERHAD 24,135,000 shares or 10% of the issued and paid-up share capital of
PANPAGE
PERDANA PETROLEUM BERHAD 77,847,094 shares or 10% of the issued and paid-up share capital of
PERDANA
PERISAI PETROLEUM TEKNOLOGI BHD 119,272,400 shares or 10% of the issued and paid-up share capital of
PERISAI
PRICEWORTH INTERNATIONAL BERHAD 64,203,342 shares or 10% of the issued and paid-up share capital of PWI

SANBUMI HOLDINGS BERHAD 52,240,000 shares or 30% of the issued and paid-up share capital of
SANBUMI
SARAWAK CONSOLIDATED INDUSTRIES 36,397,125 shares or 45% of the issued and paid-up share capital of SCIB
BERHAD
SCGM BHD 13,200,000 shares or 10% of the issued and paid-up share capital of
SCGM
SCIENTEX BERHAD 46,355,800 shares or 10% of the issued and paid-up share capital of
SCIENTX
SEAL INCORPORATED BERHAD 215,506,184shares or 10% of the issued and paid-up share capital of
SEAL
SIME DARBY BERHAD 316,353,626 shares or 5% of the issued and paid-up share capital of
SIME
SMTRACK BERHAD 26,007,100 shares or 30% of the issued and paid-up share capital of
SMTRACK
SPRITZER BHD 27,387,225 shares or 15% of the issued and paid-up share capital of
SPRITZER
SUMATEC RESOURCES BERHAD 386,611,000 shares or 10% of the issued and paid-up share capital of
SUMATEC
SYCAL VENTURES BERHAD 96,074,868 shares or 30% of the issued and paid-up share capital of SVB

TADMAX RESOURCES BERHAD 37,275,744 shares or 10% of the issued and paid-up share capital of
TADMAX
TATT GIAP GROUP BERHAD 15,510,000 shares or 10% of the issued and paid-up share capital of
TATGIAP
TDM BERHAD 148,166,168 shares or 10% of the issued and paid-up share capital of
TDM
TEK SENG HOLDINGS BERHAD 36,00,000 shares or 10% of the issued and paid-up share capital of
TEKSENG
TITIJAYA LAND BERHAD 36,666,600 shares or 10% of the issued and paid-up share capital of
TITIJYA
TSH RESOURCES BERHAD 25,000,000 shares or 1.84% of the issued and paid-up share capital of
TSH
TSR CAPITAL BERHAD 11,330,000 shares or 10% of the enlarged issued and paid-up capital of
TSRCAP
VERSATILE CREATIVE BERHAD 11,064,308 shares or 10% of the issued and paid-up capital of VERSATL

VISDYNAMICS HOLDINGS BERHAD 11,069,530 shares or 10% of the issued and paid-up capital of VHB

VIVOCOM INTL HOLDINGS BERHAD 435,155,910 shares or 10% of the issued and paid-up capital of
VIVOCOM
WCT HOLDINGS BERHAD 125,000,000 shares or 10% of the issued and paid-up capital of WCT

XIAN LENG HOLDINGS BERHAD 7,232,400 shares or 10% of the issued and paid-up capital of XIANLING

XOX BERHAD 85,182,000 shares or 10% of the issued and paid-up capital of XOX

YEN GLOBAL BERHAD 12,500,000 shares or 10% of the issued and paid-up capital of YEN

YONG TAI BERHAD 43,000,000 shares or 9.87% of the issued and paid-up capital of
YONGTAI
YTL HOSPITALITY REIT 800,611,111 shares or 60% of the issued and paid-up share capital of
YTLREIT
Source: Bursa Malaysia

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Kenanga Today
03 October 2017

Dividend
Company Ex-date Remark
ES CERAMICS TECHNOLOGY BERHAD 03-Oct-17 Single Tier Dividend of 0.6 sen per share

LB ALUMINIUM BERHAD 03-Oct-17 Single Tier Dividend of 2.5 sen per share

SELANGOR DREDGING BERHAD 03-Oct-17 Single Tier Dividend of 2.5 sen per share

SKP RESOURCES BHD 03-Oct-17 Special Dividend of 4.15 sen per share

CAELY HOLDINGS BHD 04-Oct-17 Single Tier Dividend of 1 sen per share

NTPM HOLDINGS BERHAD 05-Oct-17 Single Tier Dividend of 0.8 sen per share

WEIDA (M) BHD 05-Oct-17 Single Tier Dividend of 3 sen per share

BERJAYA SPORTS TOTO BERHAD 06-Oct-17 Single Tier Dividend of 4 sen per share

BERMAZ AUTO BERHAD 09-Oct-17 Single Tier Dividend of 1.5 sen per share

AXIATA GROUP BERHAD 10-Oct-17 Single Tier Dividend of 5 sen per share, tax
exempt
CIMB GROUP HOLDINGS BERHAD 10-Oct-17 Single Tier Dividend of 13 sen per share

BERJAYA FOOD BERHAD 11-Oct-17 Single Tier Dividend of 1 sen per share

GEORGE KENT (MALAYSIA) BERHAD 11-Oct-17 Single Tier Dividend of 2.5 sen per share

MAGNI-TECH INDUSTRIES BERHAD 11-Oct-17 Single Tier Dividend of 3.5 sen per share

MAGNI-TECH INDUSTRIES BERHAD 11-Oct-17 Special Dividend of 4 sen per share

CARING PHARMACY GROUP BERHAD 12-Oct-17 Single Tier Dividend of 3 sen per share, tax
exempt
PACIFIC & ORIENT BERHAD 12-Oct-17 Special Dividend of 1.5 sen per share

TROPICANA CORPORATION BERHAD 12-Oct-17 Single Tier Dividend of 2 sen per share

V.S. INDUSTRY BERHAD 12-Oct-17 Special Dividend of 1 sen per share

LAY HONG BERHAD 13-Oct-17 Single Tier Dividend of 0.5 sen per share

SUNWAY BERHAD 13-Oct-17 Single Tier Dividend of 3 sen per share

KUMPULAN H & L HIGH-TECH BERHAD 16-Oct-17 Single Tier Dividend of 1.5 sen per share

CCM DUOPHARMA BIOTECH BERHAD 17-Oct-17 Single Tier Dividend of 2.5 sen per share

KECK SENG (MALAYSIA) BERHAD 19-Oct-17 Single Tier Dividend of 4 sen per share

SHANGRI-LA HOTELS (MALAYSIA) BERHAD 20-Oct-17 Single Tier Dividend of 3 sen per share

SOLUTION ENGINEERING HOLDINGS BERHAD 24-Oct-17 Special Dividend of 1 sen per share

YTL CORPORATION BERHAD 24-Oct-17 Single Tier Dividend of 5 sen per share

MB WORLD GROUP BERHAD 26-Oct-17 Single Tier Dividend of 3.5 sen per share

C.I. HOLDINGS BERHAD 27-Oct-17 Single Tier Dividend of 8 sen per share

CRESCENDO CORPORATION BERHAD 27-Oct-17 Single Tier Dividend of 3 sen per share

FREIGHT MANAGEMENT HOLDINGS BERHAD 27-Oct-17 Single Tier Dividend of 3.5 sen per share

HONG LEONG BANK BERHAD 27-Oct-17 Single Tier Dividend of 30 sen per share

KEIN HING INTERNATIONAL BERHAD 27-Oct-17 Single Tier Dividend of 1.5 sen per share

Source: Bursa Malaysia

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Kenanga Today
03 October 2017

Dividend
Company Ex-date Remark
KIM LOONG RESOURCES BERHAD 27-Oct-17 Single Tier Dividend of 9 sen per share

HLT GLOBAL BERHAD 30-Oct-17 Single Tier Dividend of 1 sen per share

CHIN WELL HOLDINGS BERHAD 31-Oct-17 Single Tier Dividend of 3.3 sen per share

OKA CORPORATION BERHAD 31-Oct-17 Single Tier Dividend of 3.5 sen per share

CLASSIC SCENIC BERHAD 01-Nov-17 Single Tier Dividend of 5 sen per share

PLENITUDE BERHAD 01-Nov-17 Single Tier Dividend of 4.5 sen per share

PRESTAR RESOURCES BERHAD 01-Nov-17 Single Tier Dividend of 2 sen per share

SOLID AUTOMOTIVE BERHAD 02-Nov-17 Single Tier Dividend of 0.5 sen per share

HAI-O ENTERPRISE BERHAD 08-Nov-17 Single Tier Dividend of 11 sen per share

POH HUAT RESOURCES HOLDINGS BERHAD 13-Nov-17 Single Tier Dividend of 2 sen per share

YLI HOLDINGS BERHAD 13-Nov-17 Single Tier Dividend of 0.5 sen per share

GADANG HOLDINGS BHD 15-Nov-17 Single Tier Dividend of 3 sen per share

SUIWAH CORPORATION BERHAD 16-Nov-17 Single Tier Dividend of 1 sen per share

NYLEX (MALAYSIA) BERHAD 20-Nov-17 Single Tier Dividend of 2 sen per share

PERAK TRANSIT BERHAD 22-Nov-17 Single Tier Dividend of 0.25 sen per share

GLOMAC BERHAD 28-Nov-17 Single Tier Dividend of 1.5 sen per share

YINSON HOLDINGS BERHAD 28-Nov-17 Single Tier Dividend of 4 sen per share

CWG HOLDINGS BERHAD 06-Dec-17 Single Tier Dividend of 1.5 sen per share

DAIMAN DEVELOPMENT BERHAD 06-Dec-17 Single Tier Dividend of 5.5 sen per share

FIBON BERHAD 06-Dec-17 Single Tier Dividend of 1.1 sen per share

APOLLO FOOD HOLDINGS BERHAD 08-Dec-17 Single Tier Dividend of 25 sen per share

JF TECHNOLOGY BERHAD 14-Dec-17 Single Tier Dividend of 2 sen per share

PINTARAS JAYA BHD 26-Dec-17 Single Tier Dividend of 12 sen per share

POH HUAT RESOURCES HOLDINGS BERHAD 27-Dec-17 Special Dividend of 1 sen per share

TIEN WAH PRESS HOLDINGS BERHAD 27-Dec-17 Single Tier Dividend of 2 sen per share

Source: Bursa Malaysia

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Kenanga Today
03 October 2017

Relevant Fundamental Data*


Est.Curr Consensus
Price Mkt Cap Historical Est. Next Hist. Hist.
NAME Yr PER Target Sector
(RM) (RM'mn) PER (x) Yr PER (x) PBV (x) ROE
(x) Price (RM)
ASIA POLY HOLDINGS 0.18 58.37 20.83 N.A. N.A. 0.93 5% N.A. Chemicals
BERHAD
ATTA GLOBAL GROUP 0.84 124.60 3.44 N.A. N.A. 0.52 13% N.A. Industrial Metals &
BERHAD Mining
ASIA BIOENERGY 0.15 65.29 1.14 N.A. N.A. 0.93 72% N.A. Equity Investment
TECHNOLOGIES BERHAD Instruments
CHEE WAH N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. Household Goods &
CORPORATION BERHAD Home Construction
FOCUS DYNAMICS 0.37 283.64 N.A. N.A. N.A. 9.53 -34% N.A. Electronic & Electrical
GROUP BERHAD Equipment
HO HUP CONSTRUCTION 0.67 251.16 4.88 3.35 2.79 0.79 17% 1.69 Construction &
COMPANY BHD Materials
LONDON BISCUITS 0.74 138.04 N.A. 7.40 6.73 0.34 N.A. 0.82 Food Producers
BERHAD
MMAG HOLDINGS 0.24 64.58 N.A. N.A. N.A. 1.25 -37% N.A. Software & Computer
BERHAD Services
MELEWAR INDUSTRIAL 0.29 64.27 N.A. N.A. N.A. 0.27 -29% N.A. Industrial Metals &
GROUP BERHAD Mining
MYCRON STEEL BERHAD 0.78 219.75 6.48 N.A. N.A. 0.59 10% N.A. Industrial Metals &
Mining
NICHE CAPITAL EMAS 0.06 19.98 N.A. N.A. N.A. 1.01 -13% N.A. Personal Goods
HOLDINGS BERHAD
PASDEC HOLDINGS 0.61 174.45 N.A. N.A. N.A. 0.54 -8% N.A. Real Estate
BERHAD Investment & Services
PCCS GROUP BERHAD 0.54 32.11 4.97 N.A. N.A. 0.35 -3% N.A. Personal Goods

PDZ HOLDINGS BHD 0.05 43.47 22.73 N.A. N.A. 1.56 -13% N.A. Industrial
Transportation
PNE PCB BERHAD 0.54 71.01 32.53 N.A. N.A. 1.03 6% N.A. Electronic & Electrical
Equipment
PRICEWORTH 0.26 234.12 39.84 12.75 8.50 0.76 2% N.A. Construction &
INTERNATIONAL BERHAD Materials
P.A. RESOURCES 0.06 56.79 N.A. N.A. N.A. 0.75 -14% N.A. Industrial Metals &
BERHAD Mining
R&A N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. Software & Computer
TELECOMMUNICATION Services
GROUP BERHAD
SARAWAK OIL PALMS 4.06 2,317.41 10.38 13.53 13.40 1.15 12% 4.00 Food Producers
BERHAD
SC ESTATE BUILDER 0.03 26.49 N.A. N.A. N.A. 0.85 -6% N.A. Industrial Engineering
BERHAD
SENTORIA GROUP 0.84 418.30 11.72 13.55 8.40 0.96 9% 0.98 Real Estate
BERHAD Investment & Services
SINMAH CAPITAL 0.59 36.04 N.A. N.A. N.A. 0.39 12% N.A. Food Producers
BERHAD
SMTRACK BERHAD 0.14 15.21 N.A. N.A. N.A. 0.59 -52% N.A. Electronic & Electrical
Equipment
S P SETIA BERHAD 3.50 10,452.40 12.35 13.57 15.56 1.25 10% 3.99 Real Estate
Investment & Services
SUMATEC RESOURCES 0.06 212.64 N.A. N.A. N.A. 0.34 -11% N.A. Oil Equipment,
BERHAD Services &
Distribution
TADMAX RESOURCES 0.36 193.74 N.A. N.A. N.A. 0.61 -6% N.A. Real Estate
BERHAD Investment & Services
TIGER SYNERGY BERHAD 0.06 85.63 N.A. N.A. N.A. 0.38 -3% N.A. Real Estate
Investment & Services
VIZIONE HOLDINGS 0.15 131.23 214.29 16.67 8.33 1.75 1% N.A. Leisure Goods
BERHAD
VSOLAR GROUP BERHAD 0.11 41.09 N.A. N.A. N.A. 2.20 -21% N.A. Software & Computer
Services
WONG ENGINEERING 0.85 77.35 22.41 N.A. N.A. 1.43 1% N.A. Industrial Engineering
CORPORATION BERHAD
ZECON BERHAD 0.55 72.06 4.67 N.A. N.A. 0.61 14% N.A. Construction &
Materials
ATLAN HOLDINGS BHD 4.28 1,085.62 21.59 26.75 26.75 2.13 11% 6.00 General Retailers

ECONPILE HOLDINGS 3.00 1,605.00 19.88 16.22 14.63 5.28 29% 2.95 Construction &
BERHAD Materials
FOUNDPAC GROUP 0.82 301.55 27.91 N.A. N.A. 4.47 19% N.A. Electronic & Electrical
BERHAD Equipment

*Company with Right issue, Bonus issue, Dividend going Ex within one month
Sources: Bloomberg, Kenanga Research

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Kenanga Today
03 October 2017

List of Oversold Stocks (14-Day RSI<30-mark)


NAME* LAST PRICE RSI_14D RSI_9D RSI_3D LOW 30D
IKHMAS JAYA GROUP BHD 0.590 18.08 10.92 0.61 0.585
STAR MEDIA GROUP BHD 1.690 18.90 16.13 18.54 1.630
RAPID SYNERGY BHD 5.530 22.34 12.31 0.11 5.400
A & M REALTY BHD 1.280 22.35 14.04 0.74 1.270
MBM RESOURCES BERHAD 2.050 25.19 21.68 24.26 2.030
SUPERMAX CORP BHD 1.700 25.55 20.72 5.31 1.690
MPHB CAPITAL BHD 1.340 26.25 22.32 7.58 1.320
PESONA METRO HOLDINGS 0.505 26.36 23.92 12.99 0.505
FAVELLE FAVCO BHD 2.610 27.58 25.39 21.93 2.580
CAN-ONE BHD 2.920 27.66 28.79 48.49 2.870
SEACERA GROUP BHD 0.905 27.78 26.61 16.67 0.895
SUPERLON HOLDINGS BHD 2.280 28.03 21.56 17.25 2.200
FAJARBARU BUILDER GROUP BHD 0.845 28.30 22.22 5.09 0.840
TAMBUN INDAH LAND BHD 1.130 28.52 28.19 21.72 1.120
CAPITALAND MALAYSIA MALL TRU 1.420 28.73 23.13 6.05 1.400
WELLCALL HOLDINGS BHD 1.300 28.79 23.56 17.59 1.290
THREE-A RESOURCES BHD 1.120 29.36 28.57 28.04 1.120
MMC CORP BHD 2.110 29.57 28.48 45.95 2.050
MALAYSIA BUILDING SOCIETY 1.130 29.75 23.14 18.46 1.110
EVERSENDAI CORP BHD 0.830 29.88 28.82 43.23 0.800
MITRAJAYA HOLDINGS BHD 1.040 29.98 32.08 32.13 1.020
*Only for stocks with market cap >RM300m
Source: Bloomberg

List of Overbought Stocks (14-Day RSI>70-mark)


NAME* LAST PRICE RSI_14D RSI_9D RSI_3D HIGH 30D
7-ELEVEN MALAYSIA HOLDINGS B 1.570 84.63 93.10 99.74 1.570
BREM HOLDING BHD 1.110 78.69 88.28 99.76 1.120
PARKSON HOLDINGS BHD 0.645 78.34 83.63 89.08 0.665
LAY HONG BHD 1.040 77.38 80.30 90.88 1.050
SARAWAK OIL PALMS BERHAD 4.060 76.35 81.19 95.59 4.080
GUAN CHONG BHD 1.740 75.62 81.93 95.27 1.770
BOUSTEAD HOLDINGS BHD 2.950 75.58 79.91 95.17 2.950
KIM LOONG RESOURCES BHD 4.150 74.85 82.05 96.23 4.200
AXIATA GROUP BERHAD 5.250 74.24 79.40 95.58 5.260
YONG TAI BHD 1.620 72.21 73.14 62.98 1.660
SENTORIA GROUP BHD 0.840 72.01 82.38 98.30 0.850
*Only for stocks with market cap >RM300m
Source: Bloomberg

List of Oversold Warrants (14-Day RSI<30-mark)


NAME LAST PRICE RSI_14D RSI_9D RSI_3D LOW 30D EXPIRY DATE
LOTTE CHEMICA-CC 0.055 21.52 18.81 1.06 0.055 30/1/2018
CIMB GROUP HO-C21 0.085 21.77 16.53 23.62 0.080 31/10/2017
ENGTEX GROUP BHD-WA 0.255 22.67 15.65 0.85 0.255 25/10/2017
CIMB GROUP HO-C22 0.180 24.35 18.24 27.19 0.170 24/11/2017
LOTTE CHEMICA-CE 0.150 24.73 16.56 0.64 0.150 30/1/2018
MALAYSIAN RES CORP-WA 0.055 24.77 20.25 16.52 0.050 16/9/2018
MEDIA PRIMA B-CK 0.025 25.55 26.30 23.16 0.015 28/2/2018
CIMB GROUP HO-C24 0.055 25.75 20.47 14.12 0.050 28/12/2017
WCT HOLDINGS BHD-WD 0.055 25.88 24.61 22.63 0.050 11/12/2017
GENTING BHD-C42 0.055 26.66 18.50 1.60 0.055 29/12/2017
GADANG HOLDINGS -WB 0.480 27.40 19.76 2.38 0.480 29/11/2021
SIME DARBY BE-C14 0.035 29.62 28.49 14.30 0.035 29/12/2017
UEM SUNRISE B-C47 0.090 29.83 22.59 1.59 0.090 30/1/2018
Source: Bloomberg

List of Overbought Warrants (14-Day RSI>70-mark)


NAME LAST PRICE RSI_14D RSI_9D RSI_3D HIGH 30D EXPIRY DATE
FOCUS DYNAMICS TECHNO-WC 0.295 75.42 83.69 98.26 0.295 6/11/2019
HUBLINE -WB 0.050 75.24 82.54 97.16 0.055 20/12/2020
V.S. INDUSTRY BERHAD-WA 0.970 72.87 71.41 64.26 1.000 6/1/2019
D'NONCE TECHNOLOGY-WA 0.140 70.02 70.26 62.91 0.145 25/11/2020
Source: Bloomberg

PP7004/02/2013(031762) Page 14 of 15
Kenanga Today
03 October 2017

Stock Ratings are defined as follows:

Stock Recommendations

OUTPERFORM : A particular stocks Expected Total Return is MORE than 10%


MARKET PERFORM : A particular stocks Expected Total Return is WITHIN the range of -5% to 10%
UNDERPERFORM : A particular stocks Expected Total Return is LESS than -5%

Sector Recommendations***

OVERWEIGHT : A particular sectors Expected Total Return is MORE than 10%


NEUTRAL : A particular sectors Expected Total Return is WITHIN the range of -5% to 10%
UNDERWEIGHT : A particular sectors Expected Total Return is LESS than -5%

***Sector recommendations are defined based on market capitalisation weighted average expected total
return for stocks under our coverage.

This document has been prepared for general circulation based on information obtained from sources believed to be reliable but we do not
make any representations as to its accuracy or completeness. Any recommendation contained in this document does not have regard to the
specific investment objectives, financial situation and the particular needs of any specific person who may read this document. This
document is for the information of addressees only and is not to be taken in substitution for the exercise of judgement by addressees.
Kenanga Investment Bank Berhad accepts no liability whatsoever for any direct or consequential loss arising from any use of this document
or any solicitations of an offer to buy or sell any securities. Kenanga Investment Bank Berhad and its associates, their directors, and/or
employees may have positions in, and may effect transactions in securities mentioned herein from time to time in the open market or
otherwise, and may receive brokerage fees or act as principal or agent in dealings with respect to these companies.

Published and printed by:

KENANGA INVESTMENT BANK BERHAD (15678-H)


Level 12, Kenanga Tower, 237, Jalan Tun Razak, 50400 Kuala Lumpur, Malaysia Chan Ken Yew
Telephone: (603) 2172 0880 Website: www.kenanga.com.my E-mail: research@kenanga.com.my Head of Research

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